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1 'financial
The
UfltnirrciZtl
lire-rade
Published every Saturday by WILLIAM B. DANA COMPANY,Front, Pine and
Depeyster Sta., N. Y.C. William B. Dana Preat.,• Jacob Seibert Jr., Vice-Prest.
and See.; Arnold G. Dana, Treas. Addressee of all, Office of the Company.
VOL.89. NOVEMBER 6, 1909. NO 2315.
CLEARINGS-FOR OCTOBER, SINCE JANUARY 1 AND FOR WEEK ENDING OCTOBER 30.
Ten Months.
October.
Clearings at1909.
New York
Philadelphia
Pittsburgh
Baltimore
Buffalo
Albany
Washington
Rochester
Scranton
Syracuse
Reading
Wilmington
Wilkes-Barre
Wheeling
Harrisburg
Trenton.
York
Erie
Greensburg
Binghamton
Chester
Altoona
Franklin
Frederick
Total Middle
Boston
Providence
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford
Lowell
IIolyoke
Total New England
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis
Columbus
Toledo
Peoria
Grand Rapids
Dayton
Evansville
Kalamazoo
Springfield, Ill
Fort Wayne
Youngstown
Lexington
Akron
Rockford
Canton
South Bend
Quincy
Bloomington
Springfield, Ohio _ _
Decatur
Mansfield
Jackson
Jacksonville, Ill
Danville
Ann Arbor
Adrian
Total Middle West_
Details of Pacific on
Total Pacific
Kansas City
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Wichita
Lincoln
Davenport
Topeka
Cedar Rapids
Colorado Springs _ _
Pueblo
Fremont
Total other West
St. Louis
New Orleans
Louisville
Houston
Galveston
Richmond
Atlanta
Memphis
Savannah
Fort Worth.
Nashville
Norfolk
Augusta
Birmingham
Little Rock
Jacksonville
Chattanooga
Charleston
Knoxville
Mobile
Oklahoma
Macon
Columbia
Beaumont
Austin
Columbus, Ga
Wilmington, N.C-Vicksburg
Valdosta
Guthrie
Total Southern_ Total all
Outside New York_
ir
1908.
Inc. or
Dec.
1909.
1908.
$
84,618,422,863 61,818,570,935
10,052,341,546 7,234,271,773
5.648,284,308 4,829.074,142
9
+28
653,660,090
510,805,099 4
179,621.750 +21.8 1,912,190,248 1,714,247,310
218,862,865
108,860,384 +23.0 1,183.119,346 1,011,966,314
133,896,763
337,450,572
381,690,714
36,544,225 +14.9
41,986,764
229.321,298
238,484,852
26,648,868 +3.1
27,467,197
226,024,509
272,383,592
24,908,255 +20.5
30.003,374
143.836,975
163,825,403
15,801,620 +8.6
17,164,064
94,736.088
105,125,448
10,336,129 +8.5
11,212,807
86,812,331
88.431,981
9,808,124 +5.0
10,297,181
53,051,058
62,906,392
1
7.7
18
+
6,280,920 +
7,359,731
51,544,187
58,180,502
5,486,628 +26.7
6,952,777
49,784,748
53,829,794
5,837,309
6,230,972
58,963,311
68,692,538
6,533,830 +19.1
7,778,923
44 610 199
52,900 531
4,940,150 +21.5
6,003,528
33,184,421
63,962,102
6,087.070 +11.5
6,786,683
32,845,353
3,562,221 +13.1
4,028,070
36,398,579
25,405,781
29,829,327
+21,8
2,774,706
3,379,970
21,332,648
23,087,355
2,968,863 +4.3
2,573,111
19,522,900
2,046,900 -8.7
19,812,900
1,868,600
20,523 164
19,531,475
1,994,530 +10.0
2,194,643
1,930,174
17,285,988
+0.7
18,991,918
1,942,972
11,030,784
11,604,986
1,025 746
1.150,000 -10.8
1,030,686 +13.3
9,411,138
1,108,321
10,807,580
11,249,400,010 8,203,647,144 +37.1 95,076,409,917 70,907,274,224
5.906,493,074
665,368,349 +15.6 6,905,444,365
769,364,375
273,332,100
316,413.100
37,593,700 +14.7
43,125,000
137,981,960
149,872,284
14,208,815 -8.4
13,300,425
102,268,362
114,205,658
10,741,788 +15.8
12,441,932
75,659,972
87,972,979
7,941,238 +20.8
9,595,761
76,065,825
74,209,878
8,565,313 -2.8
8,330,802
61,761,331
70,634,510
6,960,935 +13.7
7,913,794
39,572,721
48,805,056
5,400,917 +13.1
6,107,115
40,823,833
31,921,926
4,280,598 +28.9
5,529,456
20,154,106
19,845,697
2,249,511 -3.3
2,174,084
18,606,717
21,763,702
2,007,451 +20.3
2,414,155
765,318,615 +15.0 7,850,099,271 8,743,409,885
880,298,879
1,213,651,405 1,079,730,730 +12.3 11,394.101,889 9,700,023,063
112,376,000
104,257,750 +7.8 1,111,166,200 1,006,514,900
620,475,509
711,144,311
81,328,861
66,059,026 +23.1
551.273,980
627,180,564
70,000,000
57,218,876 +22.3
446,232,196
55.582,182
491,565,850
52,757,711 +5.4
308,920,053
341,650,024
34,917,262
34,132,849 +0.8
209,750,000
26,602,300
250.330,900
23,276,000 +14.3
155,122,197
171,219,835
17,952,402
14,890,169 +22.2
107,461,600
119,059,383
12,884,899 +3.2
13,297,355
88,215,222
100,879,601
9,594,773 +16.5
11,174,657
66,383,416
81,211 747
7,488,293 +17.4
8.790,904
76,675,471
85,505,100
8,675,410 +9.7
9,517,779
41,157,174
51,805,454
4,502,294 +29.9
5,850,374
35,159,901
42,308,392
3,692,653 +5.3
3,889,546
34,077,431
39,326,717
3,488,394 +16.8
4,073,001
28,253,870
38,599,245
3,482,736 +18.7
4,133.058
26,478,231
28.249,786
3,233,895
2,832,248 +22.8
25,241,185
31,508,156
2,844,000 +29.2
3,675,760
24,910,499
28,698,948
2,902,424 +6.3
3,086,718
18,687,381
30,877,431
2,690,994 +19.3
3,210,285
17,617.779
1,965,254 +25.6
2,469,239
20,441,288
+17.2
2,241.358
21,222,072
23,799,461
2,627,147
1,997,505 +12.4
20,817,816
22,303,953
2,244,008
1,815,039 +26.7
17,437,241
2,299,529
21,409,885
1,823,781
1,570,869 +16.1
17,224,441
18,384,859
1,483,380 +12 8
1,670,728
13.564,695
15,304,253
1,520,160 +13.8
1,729,892
13,593,945
14,920,847
1,097,115 +6.7
1,171,698
12,312,734
10,747,481
1,425,856 +18.1
1,685,896
15,780,804
13,566,477
711,392 +152.3
1,794,861
8,045,108
6,067,881
1 097,615
1.148,561
111,953 -4.3
107,108
1,705,467,427 1,512,937,860 +12.7 15,950,328,586 13,723,988,682
page 1199.
383,831,145 +17.3 3,910,077,457 3.222,071,127
450,018,553
188,570,539 +31.2 1,946,556,632 1,491,383,844
244,890,607
795.670,315
853,200,633
127,012,234 +8.4
137,661,163
493,592,311
610,502,358
56,290,531 +27.5
71,797,504
392,305,439
410,896,821
46,281,283 +16.6
53,953,487
330,931,311
380.201.126
39,718,521 +14.2
45,353,380
214,005,174
254,214,268
28,572,550
22,240,821 +28.5
121,269,093
152,917,834
16,525,282
13,168,330 +25.5
114,110,226
90,789,339
12,949,854
11,440,332 +13.1
58,838,639
103,758,338
12.198,368
6,400,059 +90.6
62,298,741
50,188,677
6,697,465
5,650,488 +18.5
45,873,746
6,601,020
54,839,439
5,939,147 +11.1
43,197,296
5,068,480
56,599,358
4,910,391 +3.2
34.191,547
5,084,733
44,898,907
3.849,734 +32.1
2,732,675
27,868,380
29,543,911
3,186,152 -14.2
2,669,022
21,013,795
23,740,350
2,192,930 +21.7
1,808,976
13,784,181
15,217,124
1,814,759 +12.0
654,557,546
536,466,231 +21.0 5,055,771,544 4,282.231,405
338,644,934
282,186,594 +20.0 2,801,395,932 2,509,289,382
87,860,443
696,620,482
817,336,855
68,259,720 +28.7
53,140,144
469,697,672
529,379,148
47,496,143 +11.9
55,086,624
411,380,121
526,197,344
80,399,708 -8.8
32,701,500
280,493,600
263,845,000
41,938,000 -22.0
32,357,880
241,062,435
289,419,161
27,484,999 +17.7
57,003,635
180,818.274
25,769,400 +121.2
289.050,493
196,837,265
26,337,231 +39.0
220,045,708
38,600,196
37,775,113
152,638,472
188.544,432
26,259,703 +43.8
34,007,378
198,045,607
266,397,856
29,291,625 +16.1
15,237,835
12,639,998 +20.6
133,709,593
158,367,869
15,959,441
85,287,447
117,022,598
11,229,927 +42.1
16,205,560
11,480,574 +41.2
65.137,903
81,839.118
8,957,411 +22.1
75,351,804
10,939,831
85,272,618
54,864,071
89,059,330
8,138,343 +22.2
9,945,804
59,874,884
6,584,845 +28.8
74,010,527
8.479,188
6,847.710 +6.9
56.846,176
61,512,110
7,073,800
52,765,521
7.005,989 +43 7
60,870,188
10,070,934
6,488,762 +21 2
59,169,664
65,740,398
7,863,960
5,935,690 +10.1
52,871,692
56,659,959
6,534,810
40,603,071
5,619,084 +91.8
40,603,071
10,588,784
3,971,541 +80.2
27.725,347
37,147,561
8,363,784
2,888,342 +62.7
24,389,501
30,683,029
4,665,390
22,801,954
2,425,789 +11.3
26,244,280
2,699,381
3,597,183 +12.9
22,198,099
4,061,302
30,000,200
1,840,188 +14.9
14,414,182
14,887,032
2,105,228
1,777,032 +59.7
12,137,003
17,012,123
2,837,881
13,885,234
12,262,775
1,723,595 +1.6
1,751,286
5,386,521
1,007,113
6,992,339
789,071 +27.6
10,035.027
1,927,085
13,100,438
1,548,221 4-24.5
02
911,474,0
746,592,398 +22.1 7,161,133,850 6,146,802,177
15,851,214,417 12,148,793,193 +30.5 135,003.820,625 105,025,757,300
1,798,872,871 4,914,521,420 +18.0 50,385,397,7821 43,207,186,365
Table Clearings by Telegraph and Canadian C eating. on Page 1199.
Week ending October 30.
Inc. or
Dec.
1
++1
+
176
3
:6
1.
+17.0
1
3.0
14
+
+
+20.5
3..9
10
$1
8
+1.9
+18.6
+12.9
+8.1
5
.6
186.
4t1
.
1909.
1908.
$
2,273,329,338 1,557,851,179
141,966,816 106,441,706
48,741,182
38,437.883
32,553,526
23,286,006
9,369,918
7,276,907
6,962,762
6,268,684
6,543,346
4,989,275
3,225,138
2,789,581
2,801,910
2,238,043
2 003 989
1 865,008
1,484,027
1,224,768
1,480,245
1,058.338
1,405,234
1,312,648
1,577,698
1,301,343
1,304,481
964,485
1,460,351
1,253,603
782.931
840,567
573,642
763,475
568,152
544.486
388,000
364,900
391.927
470,829
392,092
403,833
240,000
216.000
Inc or
Dec.
1907.
1906.
$
$
416.0 1,659,364,874 1,973,259,499
+33.4 147,498,561 161.947,160
50,788,825
+26.8
51,174,284
30,390,941
30,861,966
+39.8
7,293,740
+28.8
8,537 40
7,031,752
+13.2
5,780,63r
5,567,361
+31.1
6,605,99
4,745.949
+15.5
4.173,275
+16.2
2,186,527
2,439,89
+7.4
2,779,24.
2,158,535
+21.2
1,319,523
1,439,10
+39.9
1,283.16
1,409,573
1,356,19
1.069,261
+7.1
+21.2
970,417
1,130,89
+35.3
1,047,47
'910,337
+16.5
834,87
+10.2
+31.1
833,523
658,666
483,316
497,01
+4.4
453,600
461,600
-6.0
603,436
518,387
+20.2
+3.0
300,000
243,887
-10.0
+10.8
+17.5
+8.2
-1.5
+5.1
-1.7
-4.9
+14.8
+34.1 2,538,837,717 1,760,852.513 +44.2 1,927,739,228 2.253,919,942
+16.9 169,542,081 138,554,649 +22.4 179,250,349 189,849,380
7,879,000
7,387,300
7,384,800 +9.2
+15.8
8,067,900
3,848,700
3,377,289
3,064,733
2,915,260 +6.1
+8.6
2,501,889
2,324,46
2,108,163 +15.4
+11.7
2,433,060
1,989.848
2,182,98
1,614,361 +23.6
1,995,000
+163
2,147,622
2,478,07
1,575,588 +16.9
-2.4
1,824,674
1,717,48'
1,604,815
1,337,492 +18.8
+14.4
1,588,908
1.322,730
+22.8
1,803,10
1,187.218 +28.4
1,501,926
1,317,913
• 1,390,889
1,266,79
1,056,236 +31.6
+27.9
583,98
406,323 +13.9
411,919
+1.6
422,263
482.713
565,5
405,471 +16.5
684.726
+17.0
+16.4
192,317,147 158,545,561 +21.3 202,917,371 213,558,542
+17.5 273.343,330 231,293,925 +18.2 233,608,66
255,309,403
+10.4
21,359,300 +16.9
24,979,600
24,397,65
28,189,900
19,518,822
17,165,53
13,964,095 +29.4
+14.6
18,067,096
12,472,895
+13.8
14,496.70
11,431,995 +25.2
14,307,538
10,663,07
10,669,360 +14.5
10,307,137
+10.2
12,213,101
7,569,852
7,802,79
6,725,037 +14.4
+10.6
7,692,262
,
I
.
I
5,032,100
4,950,I
4,945,400 +16.9
+19.3
6,782,100
4,035,24
4,176,306
3,029,142 +35.1
+10.4
4,192,168
3,152,360
2,593,71
2,573,559 +24.6
+10.8
3,205,276
2,345,331
2,437,68
1,927,320 +26.4
+14.4
2,435,195
1,800,884
1,580.69
1,461,167 +23 3
+22.3
1,802,819
1,698,185
1,985,76
+11.5
2,118,692
1,715,830 +23.5
968,608
1,036,26
946.472 +26.5
+25.9
1,197,794
804,388
713,633 +22.1
+20.3
871,581
843,80
770,498
752,44
+15.4
960,337
742,174 +29.4
606.443
+36.6
850 000
635,60
612,720 +38.7
668,176
+6.7
690,192
692.49
624,606 +10.5
635,731
+24.8
966,000
485,00
635,000 +52.1
+15.2
533,878
713,786
585,59
553.405 +28.9
499,566
+85.2
632,074
495,935
590,824 +7.0
+16.1
547,102
480,962
418.923 +30.6
553,658
+12.1
501,812
428,602
589,290
419.073 +40.6
475,736
404,547
457,746
415,605
+7.1
+22.8
413.041
349,611 +31.5
440,508
459.797
314,310
378,263
40b,622
297,530 +27.2
+6.7
323,767
390.021
292,031 +22.6
+13.5
357,992
255.743
258,3
299,476 +8.5
+9.8
325,000
224,834
388,257
212,450 +2 3
+14.6
217.443
300,413 +41.5
+16.3
425,031
86,933
141,81
121.069 +42.7
+32.6
172.724
30.00
21,059 -1.8
+4.6
20,728
+16.2 380,718,948 319,662,204 +19.1 334.613,241 330,062.554
81.458,51
+21.4
79,702,898 +31.0
97,587,781
104,429,790
29,175,355
38,752,41:
+30.5
56,423,188
37,561,910 +50.2
25.042 139
27,294,39
-6.7
24,194,281 +19.9
29,020,860
9,788.996
+23.7
12,678,13
10.741,382 +44.2
15,491,078
10 801.242
+4.7
13,345 597
9,982,343 +36.2
13,603,871
+14.9
8,080,298
7,684.519
8,362,934 +13.5
9,494,398
3,760,792
4,111,272 +49.4
+18.8
4,923,658
6.143,973
+26.1
2 938 322
3,412,675
3.063,837
2,530,159 +34.9
1,860,899
2,541,345
2,032,90
2,094.391 +20.9
+25.7
1,.86,255
1,446,74
1,382,551 +106.7
+76.3
2,858,572
+24.1
1,642,69'
1,051,175 +40.8
1,330,260
1,478,414
1,229,96
1,141,407
+21.5
1,214,362
+19.5
1,475,000
931,18c
907,051
+31.1
1,102,743 +0.6
1,109,880
864,40
597,198
729.233 +61.7
+30.7
1,179,487
700.00$
568.195
664,678 +8.9
614,544
+6.8
654,25
489,901
413,780 +24.7
+13.0
515,968
345,294
226,676
281,888 +46.0
+10.4
411.583
99,057,852
+18.1
145,774,834 106,319,082 +37.1 116,432,134
59,116,553
58,873,578
59,316,815 +22.6
72,720,664
+11.6
23,618,508
+12.8
21,783,862
17,685,096
15,327,607 +42.1
13,387,121
12,718,480
+12.7
9,107.691 +23.3
11,225,607
14,891,418
14,011,381
+27.9
15,600.000
15,957,500 -2.2
-6.0
9,740,000
7,050,500
7,705,000
8,467,500 -9.0
+20.1
6,520,375
6,238,079
7,590,842
6,120,000 +24.0
5,344,026
5,401.012
4,827,098 +147.1
+59.9
11,929,355
5,466,315
6,663,020
6,035,738 +21.6
+11.8
8,331,871
6,475,404
5,114,653 +53.9
+23.5
7,427,552
7,870.088
4,609,676
6,328,083 +32.8
3,795.080
+34.5
8.401,982
2.461,647 +44.8
4,250,319
+18.4
3,320,839
3,563,106
2.693,045 +50.5
3.129,848
+37.2
2,744,439
4,052,834
2,432,789 +54.0
2,600,466
2,519,862
+25.3
3,745,236
1,984,700 +37.5
+13.2
2,728,817
2,605,587
2,139,039
1,790,510 +28.1
2,257,022
+25.9
1,677,201
1,486,430
1,425,620 +36.4
1,929,135
1,168,742
1,268,509
+24.0
1,401,951 +6.1
1,487.708
1,400,000
1,300,000
+8.2
2,034,190
+15.4
1,374,726
1,678,062
1,398,576 +45.5
1,640,761
1,529,042
1,554,054
1,396,321 +17.5
+11.1
+7.2
1,351,797
1,710,707
1,466,062
1,299.377 +4.0
2,593,251
1,000,000
+79.7
896,166
1,312,671 +97.8
1,044,275
+34.0
1,175,000
800,000
789,184 +48.9
+25.8
+15.1
538,021
450,000
495,
477,043 +12.8
1,032,281
+35.5
882,065 +55.9
+3.1
+40.2
481,162
-11.7
390,741 +23.1
+11.3
+30.5
+16.5 203,769,392 158,518.905 +28.5 162,359,334 172,257,22
+28.5 3,565,647,828 2,583,601,163 +38.0 2,825,171,822 8.166,443,398
+16.6 1,293,318,490 1,025,749,984 +20.0 1,165,808,948 1,193,183,89
- Not Included In total for month and ten months; comparison Inoiliap eta.
1184
THE CHRONICLE
THE FINANCIAL SITUATION.
The Government's Treasury and financial statements for the first of the month possess unusual interest this time by reason of the reduced reserves of
our Clearing-House banks and the high money rates
prevailing abroad. The demand for money at this
centre is always active in the autumn, when the new
season's crops are moving to market and when trade
and financial transactions, too, are on an increasing
scale after the summer interval of relative quiet.
Owing to the inelasticity of our currency system, it
has been the policy of successive Secretaries of the
Treasury at Washington to accumulate more or less
money during the spring and summer and to let the
accumulations out again, in one way or another, during the autumn, and thus help the banks in a measure
to meet the drain upon their funds. Since the panic
of 1907 the United States Treasury has not been in
the flush condition in which we had been wont to see
it, but as a matter of fact the course of the Treasury
Department the present year has been practically the
same as in other years. The Treasury during the
summer took a substantial sum of money out of the
banks and since the first of August has been paying it
back again. This is the conspicuous fact which a
study of the Treasury's statistics reveals, and in view
of the greatly reduced cash balance that the Government is necessarily carrying, owing to its shortened
revenues, the circumstance is worthy of note.
In July, it may be remembered, the national bank
depositaries were called upon to return a further portion of the Government deposits still held by them.
We say a "further" amount, because the total of such
deposits in the banks had previously been heavily reduced. The effect of the additional recalls during
July was to reduce the aggregate of deposits with the
banks some $20,000,000—that is, from $74,698,615 on
July 1 to $54,022,746 on Aug. 1. With the repayment of this money into the Treasury, Government
money holdings increased by nearly a corresponding
amount, rising from $300,341,525 to $319,094,235
Aug. 1. Since the latter date, the Treasury has been
paying this money out again, at first in only a small
way, but latterly at an accelerating rate. In August,
cash in Sub-Treasuries was reduced $3,200,700, bringing the holdings Sept. 1 down to $315,893,508. During September a further decrease of $6,561,701 occurred, reducing the aggregate of cash Oct. 1 to $309,331,807. For Nov. 1 the aggregate of cash is only
$293,070,458. This means that during October over
163 million dollars of Treasury money holdings went
to reinforce supplies in the banks, while for the three
months from Aug. 1 to Nov. 1 the diminution of Treasury holdings and the corresponding addition to the
stock outside the Treasury was over $26,000,000.
At a time when our Clearing-House banks were
called upon to supply not only the demand from the
interior sections of the country but also more or less
gold for export to Brazil and considerable amounts
for shipment to Canada, the relief thus afforded was
certainly welcome. The addition to current supplies
in this way will help to explain why call money on the
Stock Exchange, which touched 6% early in October,
has latterly been quoted as low as 4%, notwithstanding the pressure exerted by the high discount rates
abroad. It is further worthy of note that the Treasury
[VoL. Lxxxxx.
has been steadily augmenting its supply of gold while
decreasing its total money holdings. For Nov. 1 the
net stock of gold in the Sub-Treasury—that is, after
allowing for the gold represented by outstanding gold
certificates—was $254,735,467; this compares with
$242,873,342 Oct. 1, $237,184,857 Sept. 1, $235,720,333 Aug. 1 and but $223,184,405 July 1. The result
was attained by reducing the holdings of bank notes,
of silver and of fractional silver. During the last three
months the aggregate of bank notes held has diminished from $27,406,977 to $2,220,867, the silver in
Government vaults from $19,172,878 to $12,113,630
and the fractional silver from $26,571,114 to $17,952,453, besides which there has been a reduction of
pretty nearly 'a million dollars in the amount of
minor coin held.
The fact that Government disbursements were running in excess of receipts of course played its part in
reducing Treasury money holdings. And yet that that
has not been the only factor in the Treasury outflow
is evident from the circumstance that in October the
excess of disbursements was only $4,707,000, whereas
the reduction in cash holdings for the month, as we
have already seen, was no less than $16,241,349. The
difference represents mainly the greater extent to
which current liabilities have been paid up. It may
be supposed that as the Treasury available cash balance is now so much smaller than it was, Treasury
money holdings are at a very low ebb. Quite
the contrary is the case. We have already seen that
on Nov. 1 1909 the total was $293,070,458, but on
Nov. 1 of last year the amount was only $290,464,703,
while on Dec. 1 of last year it was no more than $281,981,409. It is true, nevertheless, that the available
cash balance—that is, the amount remaining after
providing for current liabilities and the $150,000,000
gold reserve—is now but $89,103,079, whereas twelve
months ago it was $166,882,253. More than the
whole decrease, however, is found in the reduction of
Government deposits in the banks. As the available
cash balance was reduced from month to month
through the accruing deficits of revenue to meet disbursements, the Government gradually recalled its
deposits with the banks, and as a consequence the total
of the same the first of the present month was only
$49,497,654, as against $131,693,493 on Nov. 1 of
last year.
The total of these deposits is now so small that
there is little room for further reduction, and to that
extent the Treasury will lose its control over the
money currents unless, indeed, it should resort to
the issue of Treasury certificates as suggested, or
should undertake to sell some more Panama Canal
bonds. Of the $49,497,654 in the depositary banks
on Nov. 1, $12,585,761 represented balances to the
credit of disbursing officers, and which are necessary
to the conduct of the Government business. It does
not follow that because the available cash balance is
down to $89,000,000,dn issue of Treasury certificates
is imminent. Just what balance the Treasury shall
carry is a matter of executive discretion, but a good
deal of loose and illogical talk is indulged in in speaking
of the Treasury's needs. With a Government deficit
of only three to four million dollars a month, the
Secretary might, it is conceivable, let things run along
till the end of the fiscal year without any special risk.
In the discussions of the matter, however, it is a habit
Nov. 6 1909.3
THE CHRONICLE
1185
over real and alleged human rights, for even if an
appeal to the Supreme Court will lie (as to which there
is a divergence of professional opinion), it can hardly
be supposed that the final tribunal will reverse a finding of this nature.
The history of the case is briefly that the "Federationist," the organ of the labor unions, was publishing
in 1907 the name of the Bucks Stove & Range Co. of
St. Louis in what it called its "unfair" or "We Don't
Patronize" list, this being a public application of the
boycott. The company claimed that the course pursued was largely damaging to it in point of business,
and it brought an action in the District, because the
Federation of Labor makes its headquarters there.
In December of 1907 the District Court granted a temporary injunction, which was made permanent in
March following, after a full hearing, the Federation
being forbidden to publish the company's name or to
do or attempt anything aimed to interfere with its
business. From this an appeal was taken, and in
March of the present year the injunction order was
affirmed. In the meantime the labor leaders had continued to treat the order with flagrant contempt, and
last December Justice Wright of the District Supreme
Court sentenced the offenders to jail. Now the
highest Court of the District has confirmed the sentences of twelve, nine and six months'imprisonment,
respectively, of the three leaders above named.
Disregard of the injunction was open and admitted,
so that the question raised concerns the right of a
citizen to defy a court when he deems such court
One of the minor results of Tuesday's elections brings wrong. Mr. Gompers, who is on record as calling for
to mind again the career of Mayor Tom Johnson of and predicting what he calls a "progressive" judiciary,
Cleveland. On Aug. 3 the three-cent fare was de- says that he "cannot surrender constitutionally guarfeated in that city by a majority of 3,942 in a total vote anteed rights because a judge will issue an injunction
of about 66,000 at a referendum election. This was invading and denying those rights." He is ready to
generally understood as putting an end to Mr. Johnson go to jail, if need be, he loftily says, and will "have
politically, inasmuch as it was an issue which made the consciousness that other men have been compelled
him Mayor in 1901 and he had been so identified to suffer in defense of justice and right in the cause of
with it that he bore the familiar name of "Three-Cent" humanity and the defense of human liberty."
This martyr's pose reduces, upon analysis, to the
Johnson. He rallied himself, however, and became
once more a candidate, but is now defeated by a proposition that a private interpretation of the Conplurality of over 3,000, which may be somewhat in- stitution can override the judicial one. If sound, such
creased by fuller returns. Probably this will be final, an attitude would mean that each man is a law unto
yet some emotional spasm, excited by fresh promises himself whenever he differs from law as expounded
after those which have failed have had time to be by the persons designated for that work; and if a man
may defy an order of court he may defy a verdict of a
forgotten, may bring him again to the front.
The expectations of universal transfers and reduced jury, provided he chooses to consider either in the
fares were attractive, but in practiec they did not wrong. A natural corollary is that nobody is bound
work out according to program; and now, it would to obey a law unless he approves such law. The stateseem, the public is tired of the whole controversy. ment of such propositions is sufficient, for a private
It is human disposition to "want," and to take, all judgment which is not to submit itself implies return
the low fares and other boons which can be had, with- to anarchy by at once desocializing the social state.
There is a speciousness in the plea that Mr. Gompers
out much inquiry at whose expense the gift is to come
and what will be its effects. The disposition is just. is standing for personal freedom, but it does not bear
as strong in New York, as shown by the still unex- examination. The right to think as one pleases is
hausted determination to force the single fare to Coney not attacked, nor is the right to speak as one pleases,
Island without regard to the financial practicability within certain limits. Each one of us is free to dissent
of granting it; but when promises made are not ful- privately from any judicial decision; he may profilled, resentment must be expected. Cleveland has nounce the judge mistaken, and may give his reasons;
had her trial of unwarrantable experiments and aban- he may even express an unfavorable opinion of the
judge himself. Yet there are limits which all lawyers
dons them. The lesson might well be noted here.
and most laymen recognize and obey. Courts are
The affirmation by the Court of Appeals of the Dis- subject to criticism, but they will not allow defiance;
trict of Columbia of jail sentences upon Messrs. Gom- and even if there be some possibility of some limitation
pers, Mitchell and Morrison for contempt of a court of the power of injunctions,there is not likely to beany
order probably marks the end of a two-years struggle impairment of the power to punish contempt.
of newspaper writers to deduct from the available
cash balance—in this instance $89,103,079—the deposits in the national banks ($49,497,654) and the
cash to the credit of the Philippine Islands ($6,107,046), and to take the difference and say that this
difference, namely $33,498,379, represents the working balance of the Treasury.
As a matter of fact the cash on deposit with the
banks is as much a part of the working balance of the
Treasury as the money which it holds in Sub-Treasury
vaults. The amounts to the credit of disbursing. officers are obviously kept for the very purpose of meeting
current liabilities. With reference to the immediate
future, it is well enough to bear in mind that money
keeps coming in from current revenues at the rate of
considerably over $50,000,000 a month, and that this
goes a long way towards meeting current disbursements. But as showing that the Treasury is still in
a comfortable position, after two years of accruing
deficits, it is only necessary to point out that on
Nov. 1 the total of current liabilities was no more
than $109,572,079, whereas the Government had
$293,070,458 of cash in Sub-Treasuries, including
the $150,000,000 of gold reserve, and $143,070,458
without the gold reserve, and had in addition $55,604,700 of cash in banks and to the credit of the
Philippine Islands. We do not mean to say that it
may not be deemed best to issue Treasury certificates,
but simply that at this time there is nothing very
urgent in the Treasury situation.
1186
THE CHRONICLE
Further, Mr. Gompers's pose as a defender of personal liberty becomes even ludicrous when the nature
of the case is looked into. For the principle of the
open shop is directly and prominently involved. The
metal polishers employed by the Bucks company demanded a nine-hour day, and struck when that was
refused. The company stood upon its right to conduct its business in its own ways, so long as it broke
no law of the land and kept all contracts with its men;
it insisted upon freedom to deal with men without
outside dictation. The Federation insisted upon the
dictation, and sought to enforce that by the public
boycott. No issue could be more sharply drawn.
The liberty for which Mr. Gompers and his associates
are contending is the liberty of a man to work and of
another man to employ, according to the notions of
liberty held by Mr. Gompers; he is an apostle of liberty
according to his own interpretation of that. Federated
labor says to the employer: "Unless you conduct
your business by our rules, you shall have no labor
and we will boycott your goods besides;" and it says
to the workmen: "Unless you join us and obey our
rules, we will see that you find no work."
This is plainly an organized tyranny under the name
of liberty, and the issue concerns all classes. In attempting to set their organization above the courts
the labor leaders have overstepped, and the check will
be timely and wholesome.
In its stock allotment of this week the Pennsylvania Railroad returns to old practice. The new
stock is offered to shareholders at par. This was the
course pursued up to eight years ago, but in 1901 and
again in 1903 large offerings were made at 120, or
$60 per $50 share. The issue of 1901 was $50,500,800
and that of 1903 was $75,094,750, making an aggregate of $125,595,550,on which the company obtained
a premium of 20%. Over $30,000,000 of the convertible bond issue of 1902 has been converted into
stock at $70 per share and thus the company obtained
a premium of 40% on all stock so issued. On the
small amount of stock issued in exchange for the convertibles issued in 1905, the company has obtained a
premium of 50%, the stock being issued in exchange
at $75 per share. The decision of the board, therefore, to make an allotment of stock of 25% at par,
amounting to nearly $80,000,000, means somewhat
of a change. But it must be remembered that the
1903 issue had to be underwritten, and the stock
dropped below the subscription price before the expiration of the subscription period. It was not of
course desirable to run the risk of such an experience
on the present occasion. The stock now sells at 143
but even as recently as last February it sold as low as
126(or within 6 points of 120),and as the final payment
on the present offering will not be due until next
June, it was the part of wisdom to guard against contingencies and to offer the stock at a price low enough
to preclude the possibility of failure. Furthermore,
last year dividends on the shares were reduced from
7% to 6%. In being offered new stock at par the
shareholders will get "rights" which will serve as compensation for the reduction in dividends and afford
warrant for delaying a return to the old rate. The
rights sold yesterday at
A change of importance is the decision to make the
dividend payable quarterly instead of semi-annually,
[VOL. Lxxxsx.
which has been the established custom. This change,
like the issue of stock at par, will be very acceptable
to the shareholders. The total authorized stock of the
Pennsylvania Railroad is $500,000,000. There is outstanding about $320,000,000. Of the balance of
$180,000,000 the new issue will absorb about $80,000,000 and approximately $90,000,000 must be reserved to care for the convertible bonds. The surplus
stock authorized and not appropriated is about
$10,000,000.
The privilege now afforded of obtaining new stock
at par should be an inducement to the owners of the
convertible 33's of 1915 to exchange their bonds for
stock, and it is not improbable that the management
had this point in view when they offered the new
shares at par. The proposition figures out in this
manner: The owner of three $1,000 bonds, by conversion, may obtain 40 shares of stock, the market
value of which at $71 is $2,840. The exchange being
made before Nov. 15 the investor may acquire ten
additional shares having a market value of $710 at
a cost of $500, showing a profit of $210, which, added
to the market value of the 40 shares, indicates that the
investor will receive $3,050 for his bonds, which now
have a market.value of only $2,880, at the quotation
of 96. By making the exchange and taking his portion of the new stock at par the investor thus realizes
a profit of $170 on three $1,000 bonds, or about $57
on each $1,000 bond. All restrictions having been
removed on the method of converting the issue maturing in 1912, which are convertible at $70 per share,
these bonds too can be exchanged, the profit from the
operation, however, being smaller because of the higher
market value of the bonds maturing in 1912.
With the proceeds of the stock issue the Pennsylvania Railroad will pay $60,000,000 of secured notes
maturing March next and $20,000,000 of general 6s
which mature July 1st 1910. The annual interest on
the notes and bonds to be retired amounts to $4,200,000 and the dividends on the stock which will replace
them will amount to $4,800,000 at the present rate of
6%, so that the increased annual disbursement will
be only $600,000.
The agitation started by one or two national banks
to have exchange paid for on delivery is meeting with
vigorous opposition from private bankers and is not
even unanimously supported by the national institutions. Another conference was held on Thursday,
but it was attended by only half the number who were
present at the first meeting held on Sept. 9, a fact that
was interpreted as significant of a lack of cordiality
regarding the proposal. The committee recommended
that all exchange be paid for on delivery, but when
the sentiment of the meeting had been ascertained
the matter was referred back for further consideration
with a view to devising some arrangement whereby
private firms would .be placed on an equality with the
banks in having checks promptly cleared. In the
event of Friday payment after bank hours, the banks
would have the use of the money the following day,
whereas private dealers in exchange would not be able
to get their checks in before the clearing hour, which
is 10 o'clock.
Foreign Budgets continue to cause more or less
unrest. The Greek revolt crudely planned by Lieut.
Nov. 6 1909.1
THE CHRONICLE
Tibaldos was the culmination of dissatisfaction over
fiscal questions, and although the revolutionists have
been captured, the problem of adjusting the finances
of Greece has not yet been solved. The tragedy that
led to the fall of Senor Maura's Ministry in Spain
was indirectly due to discontent over economic conditions. The lamentable assassination last week of
Prince Ito, the ablest statesman in the Orient, was
incited by indignation over the attitude of Japan in
Korea. Germany's great Chancellor, Prince Buelow,
lost his power because of his unpopular Budget proposals. The Dual Monarchy has experienced a political crisis over its Budget. Great Britain is at this
moment in the throes of the most serious political
crisis the country has faced in recent times, also on
account of the Budget; the measure has at last been
passed by the House of Commons (receiving on
Thursday 379 votes to 149 votes), but the real fight
will begin in the House of Lords on Nov. 22. The
underlying cause of much that has taken place is to
be found in rapidly increasing expenditures for naval
and military ambitions, expenditures that, unless
dictated by some degree of prudence, may prove even
more embarrassing in the not distant future.
The United States is keenly interested in the Budget
proposals of foreign nations at this time,since our new
tariff law has changed our relations with other countries. On Sunday last our reciprocal commercial
agreements with France, Switzerland and Bulgaria
expired, our treaties with Great Britain and Germany
terminate in February next, while in August next our
present arrangements with Spain, Italy, Portugal and
The Netherlands will become non-effective. The
French Government is carefully considering what
attitude it shall adopt in order to evade the maximum
duties the President may in his wisdom impose upon
the goods of nations that do not accord us favorable
treatment. The German Reichstag is to be opened
by Emperor William on Nov. 30, and the business interests of the United States are concerned over the
stand that may be taken towards our exports. Under
all these circumstances our foreign trade movements,
which have been considerably complicated during the
last six months, may be influenced by special tariff
considerations. Importers and exporters are hopeful
that both our own Government and the government
of each foreign country affected by the new tariff
will act in the spirit of conciliation and co-operation
that was manifested here last Sunday when the New
York Customs House remained open to enable French
exporters to have a valuable cargo of wines brought
into port under the old schedule that expired on that
date.
1187
another deep-rooted reason. The rate of disbursement to holders can be regulated in accordance with
profits, whereas interest on bonded indebtedness is a.
fixed charge, failure to meet which involves foreclosure. No company cares to increase its fixed
charges if other means of attaining the desired results
can be found. And in the case of corporations whose
stocks sell in the open market well above par, it is
easy enough to issue additional amounts when the
funds thus raised are to be applied to purposes approved by directors and stockholders.
Three important railroads have lately decided to increase their capital stock; the New York New Haven
& Hartford stockholders sanctioned the issue of
$50,000,000, the Pennsylvania directors have, as noted
above, adopted a plan to distribute about $80,000,000,
and the New York Central board has applied to the
Public Service Commission for permission to issue
almost $45,000,000. The money market, however,
will not be subjected to severe strain because of this
financing,inasmuch as the whole of the $175,000,000
here mentioned will not be offered in the immediate
future, while payment for the new shares actually
sold will be spread over many months, thus relieving
the companies of unnecessary dividend or interest
charges.
Perhaps a word of explanation concerning this
year's "new financing" will serve to remove some of the
misunderstanding and loose information associated
with this subject. Records have occasionally been
compiled to show that upwards of one billion dollars
of "new securities" have been issued by railroad
and industrial corporations in the United States within
the space of twelve months. These figures are apt to
be misleading unless accompanied by proper definitions of what they represent. For example while it is
strictly true that the Pennsylvania RR. will distribute
almost $80,000,000 new capital stock, the fact is that
virtually every dollar of this amount will be used in
paying off short-term notes that fall due in March and
bonds maturing in July of next year. The New York
Central directors explicitly state that $25,000,000 of the
new stock they propose to sell will be applied to
meeting a similar amount of notes that fall due in
February next, and at least $20,000,000 of the New
Haven issue will be needed to meet maturities. While,
therefore, as much as a billion dollars of various kinds
of new securities may be announced in the course of a
year, it would be unwise to base any calculations on
the theory that so huge a sum of absolutely new
capital is actually provided. Next year alone there
will mature short-term obligations aggregating upwards of $400,000,000—largely reflecting borrowing
Various considerations are inducing our large rail- during the 1906-1907 monetary stringency—and much
roads to seek new capital by the issue of stock instead of the current year's financing has been to provide for
of bonds. Perhaps one reason for the preponderance these maturities.
of stock issues is to be found in the unsatisfactory
state of the bond market and the conspicuous activity
Bank clearings continue in no uncertain way to
in stock speculation. The principal underwriters agree reflect the active business in progress in almost all
that the demand for gilt-edged securities yielding 4% sections of the United States. In whatever direction
or less is so disappointingly light, even from banks we look the bank exchanges indicate a volume of busiand other financial institutions, that they do not care ness not only much greater than at the same time ill
to accept the risk that would to-day attend a large 1908, but also well uh to or in excess of earlier years.
offering on terms that would have been acceptable to Apparently the general business of the country is
investors a year ago or even six months ago. Stock rapidly getting back to a practical normal basis of
issues are favored by well-established corporations for operations. In the iron trade all previous records
1188
THE CHRONICLE
[VOL. Lxxxix.
outward trend of aliens was a little heavier than during
recent earlier months. In the aggregate, however, as
for each preceding month of 1909, the influx well
exceeded the efflux, giving a further noticeable gain in
foreign-born population. Through all ports of entry
the arrivals of immigrant aliens for September this
year were 67,619, which contrasts with 38,238 in 1908
and the record September total of 98,694 in 1907. The
details of the September 1909 statement indicate that,
as in previous months of the year, the arrivals from
Italy formed the largest contingent, numbering 12,462,
or nearly three times as many as came in a year ago.
Arrivals of Hebrews and Poles also continue relatively
large, although gradually decreasing in volume the last
few months. The feature of most recent reports,
however, has been the increasing inflow from Northern
Europe, culminating in September with a movement
from Germany and 'France greater than in the corresponding month of either 1908, 1907 or 1906, and a
much freer immigration from Great Britain and Ireland
and Scandinavian countries.
For the nine months of 1909 the aggregate influx
of immigrant aliens seems decidedly heavy as contrasted with the movement for the same period of
1908, but relatively moderate when compared
with either 1907 or 1906. It reached 727,737 this year,
against 286,246 in 1908 and 1,038,603 two years ago.
The monthly arrivals also include those aliens-classed
as non-immigrant-returning from a sojourn abroad.
They numbered 17,469 in September this year, against
18,397 in the month last year and 16,593 two years
ago, and for the nine months aggregated 145,357 and
98,548 and 127,457 respectively. The combined alien
inflow in the month was consequently 85,088, against
only 56,635 in 1908 and 115,287 in 1907, with the nine
months' total 873,094 this year, 384,794 last year and
1,166,150 two years ago.
The situation as regards the outward flow of aliens
remains about as before. Departures continue moderate in volume, having reached _about 27,000 in September, and comparing with 42,224 in the month last
year and 43,734 in 1907. Furthermore, for the period
from Jan. 1 to Sept. 30 this year they were only
198,430, against 479,291 and 304,249 respectively for
the like intervals of the preceding two years. Striking
a balance between the inward and outward movements, we learn that while in September of the present
year there was a net gain of 58,088 in foreign-born
population, 1908 exhibited an increase of only 14,411,
and for the nine months of 1909 our net increase is
674,664, against a decrease of 94,497 last year. The
excess for each period in 1907 was heavy-71,553 and
861,901 respectively.
Since the close of September immigration has proceeded at a slightly higher rate,the arrivals of steerage
passengers at the port of New York for the month
of October having been 57,578, against 53,412
for the previous month, 60,715 for the whole
country in October 1908 and 129,564 in 1907. Departures, however, are appreciably smaller than in
Immigration into the United States, according to 1908 or 1907, a further gain in population of about
official reports, continues along moderate lines; at 55,000 is likely for October 1909, which contrasts with
1907.
the same time the statement for September shows a 20,864 in the month last year and 73,738 in
greater influx of aliens during that month than in
The Pennsylvania Railroad, whose lines grideither July or August of the current calendar year,and
also an appreciably larger movement than in the iron the mineral and manufacturing districts of the
corresponding period a year ago. Concurrently, the Middle and Middle Western States, is getting the bene-
are being surpassed, as is evident from the fact that
the "Iron Age" of this city reports the make of iron in
the United States for October at 2,592,516 tons (or
at the rate of 30,000,000 tons a year), comparing with
2,385,206 tons in September and the previous maximum of 2,336,972 tons in October 1907.
Our compilation of clearings on the first page of
this issue indicates that of the 127 cities included only
9 fail to report gains over last year in October and but
6 in the ten months. For the whole country the expansion in October as compared with 1908 was 30.5%
and for the ten months reached 28.5%. Contrasted
with two years ago, furthermore, the increases are
14.8% and 7.1% respectively, and with 1906 they
reach 9% and 2.3%. Outside of New York the month's
total exhibits a gain of 18% and that for the ten
months an addition of 16.6% compared with a year
ago, while contrasted with 1907 the augmentation
shown is 3.4% and 1.1% respectively and with 1906
is 11.8% and 11.8%. At many cities the October
1909 clearings were in excess of any previous monthly
record. This is true of such important centres as
Chicago, Kansas City, St. Louis, Denver, Omaha,
Seattle, Washington, Savannah, Richmond, Atlanta
and Augusta. At New York the dctober 1909 total
has been exceeded only once-in January 1906, when
the stock market was very active-and then not by a
very appreciable amount.
At the New York Stock Exchange dealings in shares
in October were greater than in the month a year
ago, the comparison being between 21,739,514 shares
of a par value of $2,041,672,200 this year and 14,266,901 shares with a par of $1,302,230,375 in 1908. For
the ten months transactions this year reached 178,302,309 shares, against only 149,237,666 shares a year
ago, and contrasted with 1907 the aggregate of dealings shows a small increase. Bond dealings continue
very noticeably larger than for earlier years. At
Boston bond transactions were smaller in volume in
October this year than last, the totals having been
$2,088,700 and $3,106,800 respectively; but share
sales, at 1,221,233 shares, were heavier than in the
preceding month or in October 1908. The ten
months' total is 11,641,196 shares, against 9,772,377
shares for the like period last year. Philadelphia's
October dealings were 768,763 shares, against 811,147
shares in 1908, and the ten months' aggregates were
8,099,732 shares and 6,468,957 shares respectively.
The Canadian clearings exhibit for the month and
ten months is also a very favorable. For the thirteen
cities included in our table the aggregate for October
exhibits an increase over the corresponding period
of 1908 of 26.1%, especially large gains being shown
at. some points. The total for the ten months since
Jan 1 is 24.2% more than the 1908 results for the same
period. Compared with 1907 gains of 31.6% and
14.5% invectively are disclosed. It is also to be remarked that the month's totals at six of the cities
made new records.
Nov. 6 1909
THE CHRONICLE
fit of the wonderful activity of the iron and steel. industry, with the resulting great demand for coal, of
which latter the Pennsylvania is the largest carrier
in the country, and its monthly returns of earnings
are now reflecting that. fact. The statement for September has been issued this week, and it shows gains
in gross earnings which run very close to last year's
losses, while the expansion in the net exceeds last
year's reduction, thus showing that revenues are
getting back to the old basis. On the lines directly
operated east of Pittsburgh and Erie there is an increase of $1,755,300 in gross earnings, with an increase
of $942,000 in net earnings; while on the lines directly
operated west of Pittsburgh and Erie there is $1,826,500 gain in gross with $867,400 gain in net. For the
combined lines,therefore,we have an improvement of
$3,581,800 in the gross and of $1,809,400 in the net.
Last year the combined lines showed $3,696,000 loss in
gross with $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 comparison.
Lines East of
Pt1t3buroh.
1909.
1908.
1907.
1906.
1905.
1904.
September.
Gross earnings 13,844,559 12.089.259 14,450,859 13,059,859 12,334,159 10,383,650
Oper. expenses 9,273,082 8,459,782 10,132,282 8.274.282 7,555,782 6,492,240
Net earnings 4,571,477 3,629,477 4,318,577 4,785,577 4,778,377 3,896,410
Jan. 110 Sept. 30.
Gross earnings 110448 272 99,030,272 123714772 108406 072 97,007,772 86,865,319
Oper. expenses 78,741,871 71,446.671 89,806,471 75,106,671 68,747,171 60,507,353
P4et earnings 31,706,401 27,592,601 33.908,301 33,299,401 28,260,601 26,267,966
The November 1 and the May 1 settlements abroad
are always heavier than in other months during the
year; hence a strain upon banking resources usually
occurs at these dates. This week's foreign bank statements prove no exception to this rule. On Monday
the Imperial Bank of Germany reported a loss of $10,700,000 in gold on hand, an increase of $22,000,000 in
note circulation and an expansion of $31,720,000 in
loans and discounts; no change was made in the bank
rate, but international bankers in New York are advised that unless next week's returns show distinct
improvement, an advance to 6% is not unlikely on
Monday, although it should be added that marked contraction in liabilities is expected. The Bank of England succeeded in obtaining $3,750,000 new bar gold
in the open market on Monday at the minimum price,
77 shillings 9 pence, yet Thursday's weekly report disclosed a decrease of £175,104 in coin and bullion, and
a total loss of £513,000 reserves, bringing the ratio
down to 45.42%, against 45.80% a week ago. The
London Stock Exchange disliked this showing, and
securities declined on apprehensions that the discount
rate would be again raised this month. Even the Bank
of France, which has remained impervious to attempted demands upon its unparalleled holdings of
gold, this week records a loss of almost $4,000,000 gold
and of fully $1,000,000 silver, simultaneously with the
unusual increase of $49,300,000 in bills discounted
and of almost $55,000,000 in circulation. Although
the open market rate of discount has advanced to 3%,
which is level with the official minimum, there has
been no intimation that the directors contemplate
any advance in the latter. One significant movement
has been the doubling within a fortnight of the Paris
rate for call loans—prets d'argent au jour le jour; these
1189
were quoted at 134% in the second half of October,
whereas yesterday 3@4% was demanded. The Bank
of Bombay on Thursday raised its rate from 3% to 4%.
Local money rates have declined this week, following the Nov. 1 payments of interest and dividends by
corporations, whereas at most foreign centres discounts
have been firmer. The weakness here developed in
face of active speculation in stocks and moderately extensive payments on balance to the local Sub-Treasury.
Up till TInirsday lenders of time, money on Stock Exchange collateral held out as a rule for 43
4% for all
maturities, while 4% was the ruling rate for call funds.
On that day the charge for four, five and six months'
accommodation was lowered to 4%; ninety days'
loans were quoted 4M @43
4%, with business done at
both figures. On Friday the tone was firmer again,
lenders asking 49% for all maturities; loans were
made as a rule at that figure, the range being
43
/
4%. Call money opened the week at 4% and the
high figure of 5% was reached on Monday; the low rate
was 3%% and the ruling rate 4%. This, also, was
the prevailing rate on Wednesday, when the range was
3@4%. On Thursday a minimum of 3% was recorded, and for the first time since Oct. 1 the ruling
charge for the day was below 4%, the rate being
4%• On Friday the range was 33/ to 4%, so
33
that the average quotation for the week was a shade
under 4%. Very few loans are now made at banks
and trust companies on terms different from those
quoted at the Stock Exchange. Commercial paper is
drawn somewhat more freely than can be discounted
on a basis attractive to the drawers. The inquiry from
downtown banks and from the growing number of
trust companies that handle these bills is restricted,
owing to the rates now obtainable on stock loans,
while Western cities are buying sparingly. The demands from Southern banks have not broadened appreciably. The range for prime four to six months'
single names is 5@5M% and for good names
6%. Scarcely any sixty to ninety days' endorsed
bills receivable are on offer; the nominal range is
4%@5Y
1%.
The Bank of England did not on Thursday advance
its 5% minimum discount rate, but as the proportion
of reserve to liabilities this week shows no improvement, fears are entertained that the governors may
deem a 6% charge necessary to attract gold. The
private, or open market, rate for ninety day bills in
London has this week ruled at 43' @,4%%, with the
rate yesterday 45A%,and 60-day bills quoted at 4%%.
At Paris the discount rate has ranged from 2%@
3%, with the higher figure quoted yesterday. The
Berlin rate is 4%@4%%,against 4 5-16% a week ago.
According to our special cable from London, the Bank
of England, notwithstanding its purchase of new gold
on Monday', lost £175,104 bullion during the week,
and held £32,198,727 at the close of the week. Our
correspondent further advises us that while purchases
in the open market were large, they were overbalanced
by exports to South America and shipments to the
interior. The details of the movement into and out
of the Bank were as follows: Imports, £875,000 (of
which £56,000 from Switzerland and £819,000 bought
in the open market); exports, £376,000 (of which
£250,000 to South America and £126,000 to various
[VOL. Lxxxix
THE CHRONICLE
1190
3s. Cotton for payment ranged from 482@
destinations), and shipments of £674,000 net to the 4 83/
1 and grain for payment from 4 83@4 839.
4
823.
Britain.
interior of Great
The foreign exchange market has been quieter. The
Stock Exchange holiday in London and the general
holiday in Paris on Monday restricted operations,
while on the following day there was a holiday here.
Fluctuations in rates were within narrow ranges, but
the undertone was somewhat weaker. Cotton bills
appeared in volume both on Monday and Wednesday,
grain bills are a little more in evidence, and during the
last few days finance bills have begun to reappear,
although not in large amount. One interesting development has been fairly heavy buying of long sterling
in New York by Paris; within the last ten days Paris
checks gradually declined from 5 16% less 1-16 to
5 173. The principal exchange bankers declare that
securities are still arriving in New York from Europe,
chiefly from London, but that the inflow has been
much lighter than is often represented. Finance bills
drawn during the summer are beginning to mature
abroad, thus affording an indication of how foreign
bankers intend to handle this phase of what has been
not quite accurately called a serious situation. It can
be stated that so far no widespread difficulty has been
experienced in effecting renewals in London or in
obtaining favorable treatment in Paris. Consequently
comparatively few finance bills are being paid off, and
there are not wanting signs that new ones will be placed
this month. No gold exports have been made from
New York this week, nor has the foreign drain upon
London been quite so severe. November is ordinarily
a month of gold imports here, but with sight drafts
at 4 87 or higher, no inflow is, of Course, feasible.
Compared with Friday of last week, rates for exchange on Saturday advanced 5 to 10 points, sixty
days selling at 4 8330@4 8340, demand at 4 8730@
4 8740 and cables at 4 8775@4 8780. On Monday
(which was a Stock Exchange holiday in London and
a general holiday in Paris) business was quiet at 4 8330
@4 8335 for sixty days, 4 8725@4 8730 for demand
and 4 8775 ®4 8780 for cables. Tuesday was a holiday
here, owing to the municipal election. On Wednesday
cotton bills were offered in quantity and rates weakened
to 4 8325@4 8330 for sixty days, 4 8715@4 8720 for
demand and 4 8765@4 8770 for cables. On Thursday
trading was dull at sagging quotations, the close being
at 4 8315(0 8325 for sixty days, 4 8705@4 8710 for
demand and 4 8755@4 8765 for cables. On Friday
rates were about 5 points higher.on the rise in private
discounts abroad.
The following shows daily posted rates for sterling
exchange by some of the leading drawers:
)60 days 4 84
Brown
ISIght._ 4 88
Brothers & Co
160 days 4 84
Kidder,
1Sight__ 4 88
Peabody & Co
160 days 4 84
Bank British
North America -- - _Sight __ 4 88
Bank of
160 days 4 84
Wight__ 4 88
Montreal
Canadian Bank
J60 days 4 84
of Commerce
Sight__ 4 83
Heidelbach, Ickel160 days 4 84
heimer & Co
Wight__ 4 88
Lazard
160 days 4 84
Freres
Wight__ 4 88
160 days 4 84
Merchants' Bank
1Sight. 4 88
of Canada
cc xwm
mocsoxxxxx.xxx
m.x,4.w.i.o.i.m4.013,,o.,.m4.
=
Fri., Mon., Tues., Wed., Thurs., Fri.,
Oct. 29. Nov. 1. Nov. 2. Nov. 3. Nov. 4. Nov. 5.
H
0
L
I
D
A
Y
84
88
84
88
8415
88%
84
88
8415
38
84
88
84
88
84
88
84
88
84
88
841,5
8815
84
88
843
88
84
88
84
88
84
88
84
83
84
88
84%
883.
84
88
84%
88
84
88
84
88
84
88
The market closed on Friday at 4 8310@4 8325 for
sixty days, 4 8710@4 8715 for demand and 4 8760@
4 8770 for cables. Commercial on banks was quoted
at 4 8270(0 8285 and documents for payment 4 82®
The following gives the week's movement of money
to and from the interior by the New York banks.
Week ending November 5 1909.
Shipped by
Received by
N. Y. Banks. N. 1'. Banks.
Currency _
Gold
Total gold and legal tenders
Net Interior
Movement.
$6,067,000
942,000
$7,420,000 Loss $1,353,000
1.062,000 Loss
120,000
$7,009,000
$8,482,000 Loss $1,473,000
With the Sub-Treasury operations the result is as
follows:
Week ending November 5 1909.
Banks' interior movement, as above
Sub-Treasury operations
Total gold and legal tenders
Into
Banks.
Out of
Banks.
Net Change in
Bank Holdings.
$7,009,000
23,600,000
$8,482,000
27,900,000
.OSS
$30,60,000
oss
$36.3S2.000Foss
$1,473,000
4,300,000
$5,773,000
The following table indicates the amount of bullion
in the principal European banks.
.
November 5 1908.
November 4 1909.
Banks of
Gold.
£
England__ 32,198,727
France __ 144,031,401
Germany 34,827,550
Russia — 139,255,000
Aus.-Hun_ 57,294,000
Spain___ 16,076,000
Italy ____ 38,307,000
Netherl'ds 10,523,000
Nat. Belg. 4,110,667
Sweden __ 4,380,000
Switzeri'd. 4,952,000
Norway __ 1,895,000
Silver.
Total.
Gold.
£
£
32,198,727 35,866,490
35,628.360 179,659,760 132,782,513
11,442,700 46,270,250 42,425,000
6,922,000 146,177,000121,445,000
11,863,000 69,157,000 48.668,000
31,028,000 47,104,000 15,761,000
4,100,000 42,407,000 36,928,000
2,777,200 13,300,200 7,773,300
2,055,333 6,166,000 4,094,000
4,380,000 4,252,000
4,952,000 4,659,000
1,895,000 1,730,00
£
Silver.
Total.
..£
35,866,490
35,496,669 68,279,182
10,800,000 53,225,000
6,603,000, 28,048,000
12,356,00 61,024,000
32,923,000 48,684,000
4,425,000 41,353,000
3,977,800 11,751,100
2.047,000 6,141,000
4,252,000
4,659,000
1,730.000
£
Tot. week.487,850,344 105,816,593593,666,937 456,384,303 108,628,469 r65,012,772
Tot. prey.491,265,281 106,590,260597,855,541 456,191,530 110,446.634 66,638,164
THE NEW YORK CITY ELECTION.
We do not remember any previous contest in
New York politics with so singular a result as that
which has come about from last Tuesday's municipal
election. Nothing perhaps could better illustrate the
unusual character of the outcome than the fact that
when the returns were practically all in, on election
night, the adherents of one party were cheering over
their victory in the streets; whereas, on the ensuing
morning, when a little thought had been given to the
various results, the same people were frankly acknowledging defeat, while the opposite party was in a
state of the highest exaltation. It was not new information or new figures which caused this outright reversal of sentiment, but revision of opinion as to the
figures at hand in the first place. In view of this
curious phase of political judgment on the vote, it
will be worth while to glance back at the series of
events which have ended in the election of Judge Gaynor on the Tammany ticket and in the failure of every
other Tammany candidate to come within hailing
distance of an election.
The city campaign itself, which really began only a
few weeks ago, has been quite as much out of the ordinary as the election results. The selection by Tammany of Judge Gaynor as its candidate for Mayor
was, in the first piace, singular in itself; because Mr.
Gaynor had in the past been unsparing in his denunciation of the Tammany government. This left it
a matter of opinion whether the party had chosen
Judge Gaynor because they feared defeat without
him, or because his nomination had been forced upon
them from within their own ranks. Meantime the
attitude of the anti-Tammany party was even more
curious. The early efforts at fusion between the
Republican and Independent factions in the city did
not promise either an interesting or effective campaign. A general sentiment of apathy appeared to
Nov. 6 1909.
THE CHRONICLE
pervade the community, and in the end, although
joint nominations were agreed upon by the two
Fusion elements, it was done in a perfunctory way,
and only after certain factions which had been invited
to the Fusion deliberations had publicly withdrawn
from them.
Hardly, however, had the campaign got fully under
way when a sudden revival of popular interest was
most noticeable—displayed, as it often is, by very
heavy registration on the fourth day allotted for that
purpose, when the three preceding days had fallen far
below the average. This reviving interest was in
turn in great measure the result of another singular
incident—namely,the projecting of Mr. Hearst into
the campaign on an independent nomination, this
time apparently against his will, and with the Fusion
candidates for all offices but Mayor placed on the
ticket with him.
Here was a situation perplexing in an unusual degree to political prophets. The course of the campaign threw comparatively little light upon its real
significance. That the Fusion canvass was pursued
with rather unexpected energy counted for much;
but this appeared to be offset by the fact that the
Hearst campaign for the ticket mostly made up of the
Fusion nominees was conducted in a most perfunctory
way, and apparently with no organized machinery
to bring out the vote. In the public speeches at
meetings of all three factions, there was a constant
tendency to descend to personalities regarding the
various candidates—a fact which has usually, in the
past, indicated lack of definite issues and fear by the
leaders that the voters were taking little interest in
the contest. Such was the complexity ofthese various
influences during the campaign that on the eve of
election even old hands in the political betting
ring were willing to take no chances except in backing
the prospects of Judge Gaynor's election to the Mayoralty—a reasonably safe presumption, since the opposition to his candidacy, unlike the rest of the ticket,
was divided between two separate candidates.
The actual results of this curious campaign were
not, however, as surprising as the perplexing canvass
seemed to indicate. We have noted already that
except for Judge Gaynor's election to the Mayoralty,
the Fusion nominees have been elected in every instance. When the figures in detail are reviewed,
however, it will be found that both results were
logical and all but automatic. For instance, the vote
for Mayor in the Greater City was 250,000 for Gaynor,
177,000 for Bannard and 153,000 for Hearst. This
gave Judge Gaynor the handsome plurality of 73,000.
If, however, the Bannard and Hearst votes had been
cast for a single candidate, the vote would have
totaled 330,000, and when we examine the vote for
Comptroller in the Greater City, where the Fusion
and Hearst tickets had the same candidate on
their tickets, the figures show that the Fusion nominee
received 324,000, against 250,000 for the Tammany
candidate.
In other words, although the Tammany candidate
for Comptroller received almost exactly the same vote
as its candidate for Mayor, it was the influence of the
combined opposition which defeated him. Even in
the case of offices on Manhattan Island alone, concerning which it had been supposed that Tammany's
prospects were extremely good, the vote for Mayor
1191
and for District Attorney and President of the Borough are consistent. In that part of the Greater City,
Judge Gaynor received 134,000 votes, Mr. Bannard
86,800 and Mr. Hearst 86,900. The sum of the
Bannard and Hearst votes was 173,700, and the
Fusion candidate for District Attorney, who appeared
on both the Fusion and Hearst tickets, polled 166,000
votes, while his opponent polled 139,500. Here again
it was merely the influence of the two opposing factions which insured the independent victory.
When one asks the meaning of this very interesting
result, the first answer obviously is that it shows the
possibility, in the City of New York, of a successful
independent campaign for city officers, even in a year
when no special excitement one way or the other has
been aroused. There has been no Lexow investigation
this year, as there was on the eve of Mr. Strong's
election to the Mayoralty in 1894. There has been no
"whirlwind campaign" such as that with which District Attorney Jerome, in 1901, carried Mayor Low
into office with himself. There has not even been
the argument of hard times and general dissatisfaction. The inference therefore is by no means unwarranted that the people of New York have it fairly
in their hands to choose a competent and independent
city government whenever they see fit.
The other phase of this interesting election lies in
the fact that all the official associates of the Mayor
during the next four years, so far as those associates
were fixed by public vote, were chosen from the
tickets which did not bear his name. The Mayor still
has control of bureau appointments, and in such
matters as the Police Department he will exercise
quite as great power as did his predecessor. But on
the Board of Estimate, which passes on the city's
plans for revenue and expenditure, the composition
of the board brings it about that the successful Fusion
nominees will have an overwhelming majority vote.
Under the Charter arrangement, by which a certain
number of votes in the Board of Estimate is allotted
to each of the eight elected public officers, the Mayor
casts three and the other seven members of the Board
thirteen.
On the face of things, it might be said that the
position is unfortunate, since the executive head of
the city would be thereby confronted with a necessarily hostile financial board. Such ill results might
be looked for in a similar case in Federal politics, or
even in New York's case, if this week's election had
been fought out on purely partisan lines. But it was
not so fought out, and when all phases of the situation are considered, we can see no possible reason for
imagining why Judge Gaynor and his associates on
the Board of Estimate should not proceed to conduct
the finances of the city with as little friction as might
be expected in a directors' board of a great business
corporation. The questions which will come before
this board are not questions of party politics; they are
not even, to any appreciable extent, questions of
patronage. They have to do with two very formidable
problems—first, reconstruction of the city's financial
methods so that the constant piling up of debt may
at least be held in check; second, the pruning of the
expenses and the prevention of waste and extravagance in the administration of the city government.
These are questions which appeal to the business
instincts of any man of intelligence. In ascribing
1492
THE CHRONICLE
such a quality alike to Judge Gaynor and to his Fusion
associates in the new city government, we simply
express our belief that a very unusual opportunity for
solving the problems of the past dozen years presents
itself both to the city and to the new city administration.
THE ROCK ISLAND COMPANY AND ITS
CONSTITUENT PROPERTIES.
An investigation into the condition and prospects
of the Rock Island Company involves a study of the
results and condition of the two great railroad properties which it controls and from the operation of which
all of its income is derived on its security holdings in
the same. The distinctive feature of the annual reports of these constituent companies is the improvement shown as compared with twelve months ago, thus
correspondingly improving the situation of the Rock
Island Company. This improvement is observable not
alone in the income and operating results of the two
companies, but extends to their finances. Quite a
floating debt existed at the end of the previous fiscal
year, owing to the large amount of work the companies
had been engaged in and the inability to float at
satisfactory prices the securities issued in payment
of the same. Decidedly more satisfactory financial
conditions prevailed during the twelve months under
review, and as a consequence the floating debt now is
of merely normal proportions, such as can be readily
and easily managed. Accordingly, this one-time cloud
upon the affairs of the two companies has been removed. Hence the Rock Island Company, by reason
of its ownership in the stock of the two companies, is
now in position to enjoy the advantages that must
accrue from the development of their traffic and income, unaffected by considerations appertaining to
their finances.
The reports of the two sub-companies are alike in
showing increases in both the gross revenues and the
net revenues, and therefore in leaving considerable
increases in the amounts available for the shares on
the operations of the twelve months. Taking up first
the report of the Chicago Rock Island & Pacific Railway Co., it is found that as compared with the year
preceding gross revenue was added to in the sum of
$2,700,690, or 4.62%, and net revenue in amount of
$2,323,374, or 14.21%. Ignoring differences from
year to year arising out of the changes in the classification of revenues and expenses made by the Statistician of the Inter-State Commerce Commission, the
gross for the latest year is even better than it was
two years ago, before the depression in business, and
hence is the very largest ever reached. Briefly, total
operating revenue for 1909 was $61,184,887, against
$58,484,197 for 1908 and $60,138,673 for 1907. In
the case of the net the amount still falls below that
of two years ago, even after the late year's improvement, the comparison being $18,671,391 for 1909,
against $16,348,017 for 1908 and $19,325,851 for 1907.
Of the $2,323,374 recovery in net earnings in 1909,
$480,969 was eaten up by increased taxes, leaving the
actual gain in net income $1,842,405. From the
remarks in the report it appears that a part of the
rise in the taxes follows from exceptional causes, yet
the tendency of this item is steadily upward year by
year, and even if the total:for 1909 at $2,270,864 should
be substantially reduced, it would yet stand consider-
[VOL. Lxxxix.
ably larger than the total for 1908 at $1,789,894 and
still larger than the total for 1907 at $1,676,038.
The quick recovery in gross earnings in the late year,
bringing the amount as just shown above that of two
years ago by a million dollars, is a distinction and
achievement which few large systems have been able
to duplicate. There is another particular in which
the operating results for the Chicago Rock Island &
Pacific (and for that matter also the St. Louis &
San Francisco, as we shall presently see) differ from
those of most other large systems,namely,in recording
a larger total of operating expenses. In the case of
these other companies the feature has been the way
expenses have been cut down. On the Rock Island
Lines, on the other hand, the aggregate of expenses
for 1909 is $42,513,495, which compares with $42,136,180 for 1908, showing a small addition. Analysis
of the expense accounts, however, makes it plain that
in certain directions expenses were heavily reduced,
the same as on other lines, indicating greater efficiency
of operations and various economies. For instance, in
the transportation expenses there was a diminution
of $752,289 and in the traffic expenses a decrease of
$45,259. In the decrease in transportation cost the
lower price of fuel was an item of no little consequence,
and the greater use of fuel oil operated to the same
end. The company used 15,513,519 gallons of oil in
1909, against only 244,625 gallons in 1908. Counting
147 gallons of fuel oil as the equivalent of a ton of
coal, the supply of fuel in the latest year cost only
$2 01 per ton, against $2 13 the previous year. The
management also succeeded in effecting economy in its
train service, actually reducing its freight train mileage
in face of an addition of nearly 4% to the number
of tons of freight carried one mile. This brought the
train-load of revenue freight up from 254 tons in 1908
to 264 tons in 1909, and the total train-load (including
company freight) from 288 tons to 300 tons.
The rise in total expenses, in face of the decrease in
the transportation and traffic expenses, is explained
by an augmentation of $973,805 in the expenditures
for maintenance of way and structures, of $154,298 in
expenditures for maintenance of equipment and of
$46,760 in the general expenses. The increase under
the first two heads, of course, indicate merely that the
company was liberal in its maintenance outlays.
We have spoken above of the gain in the traffic
of the system during the late year. This extended to
both the passenger and the freight service and would
seem to have followed from business recovery. The
freight traffic, even after the late year's recovery, does
not equal the total of two years ago, but the passenger
traffic and passenger revenue rose in both years and
are much the largest in the history of the company
The total number of tons of freight carried was
17,145,657 in 1909, against 15,877,646 tons in 1908
and 17,412,333 tons in 1907. Of the increase of
1,268,011 tons in the late year, only 99,492 tons was
contributed by agricultural products and 72,366 tons
by animals and animal products. On the other hand,
606,048 tons additional came from the traffic in
mineral products (largely coal and stone), 208,135
tons from forest products, 265,422 tons from manufactures and 16,548 tons from other commodities. Thus
the gains have come chiefly in the classes of traffic
which indicate business recovery and general industrial
growth and development.
Nov.6 1909.)
THE CHRONICLE
The company did not enlarge its dividend distribution, but with the improvement in its net earnings
had an increased amount available for dividends, notwithstanding that there was some increase in the fixed
charges. The dividends paid out of the year's earnings aggregated 531%, the same as in the previous
fiscal year, and called for $3,930,018. The sum
available for dividends was $6,166,230, leaving a
surplus above the dividends in amount of $2,236,212.
The latter is just about equivalent to 3% additional on
the $75,000,000 stock of the Chicago Rock Island &
Pacific Railway Co.
Should there be a similar income the current fiscal
year, and should the extra 3% be paid out in the shape
of additional dividends, the result would be important
in its bearing upon the income of the Rock Island
Company. As is doubtless known, the Rock Island
Company is merely a holding company and its income
consists entirely of the dividends received by it on its
holdings of the stock of the Chicago Rock Island &
Pacific. The Rock Island Company owns the whole
capital stock of the Chicago Rock Island & Pacific
Railroad Co., an intermediate concern, which in turn
owns $70,386,100 of the $74,859,600 capital stock of
the Chicago Rock Island & Pacific Railway Co., and
this intermediate concern also owns $28,940,300 of the
$29,000,000 common stock of the St. Louis & San
Francisco Railroad Co. No dividends have ever been
paid on St. Louis & San Francisco common. The
514% dividends paid on Chicago Rock Island & Pacific
shares yielded to the Rock Island Company just a little
more than sufficient to pay the interest on the two
issues of collateral trust bonds which the Chicago Rock
Island & Pacific Railroad Co. has outstanding, aggregating $87,750,880. If, now, the Chicago Rock Island
& Pacific Ry. should pay 3% additional in dividends, this 3% would give the Rock Island Company an added income of $2,111,583, or somewhat in excess of 4% on the $49,270,690 preferred stock outstanding of the Rock Island Company.
With reference to the finances of the Chicago Rock
Island & Pacific Ry., the company's funded debt increased during the twelve months $3,775,000, but the
equipment notes decreased $1,051,541 and the twoyear notes for $6,000,000 were paid off on April 11909.
Altogether, there was a decrease in the funded and
other fixed interest-bearing debt of $3,276,541. On
the other hand, $4,944,000 of first and refunding mortgage bonds which had been pledged as security for
the two-year notes were released and disposed of. At
the same time $3,747,000 of the same issue of bonds
held among the free assets in the treasury were also
disposed of. Out of the proceeds of these sales the
company was able to provide for its new construction
needs and its outlays for additions and improvements and reduce the total of notes payable from
$3,520,000 June 30 1908 to $1,590,000 on June 30
1909.
It is, however, in the case of the St. Louis & San
Francisco that the greatest change in financial condition has been wrought. On June 30 of last year this
company had notes payable outstanding to an aggregate of $11,987,035. Now the amount of such notes
out is only $1,713,329. The company also had other
obligations of large extent maturing. Thus it had
$7,124,900 of five-year 4176% notes due Dec. 1 1908
1193
and it had $15,529,929 of St. Louis Memphis & Southeastern Railroad Co. five-year 432% bonds due June 1
1909. Here was a total of over 341A million dollars
of obligations which had to be met within the twelve
months. Through the aid of important financial interests, notably Speyer & Co., the task was successfully
accomplished. The floating debt, we have already
seen, was cut down to small figures. Cash for the
redemption of the St. Louis Memphis & Southeastern
bonds was deposited before the required date with the
Bankers' Trust Co. Of the $7,124,900 notes, $999,900
was paid off on Dec. 1 1908 and the remaining $6,125,000 extended for one year to Dec. 11909. This latter
date has not yet arrived, but the notes were all taken
up shortly after the close of the fiscal year—that is, on
Aug. 6 1909.
As to the method by which this extensive financing
was effected, it was accomplished through the sale of
$35,000,000 of general lien 5% gold bonds. With the
proceeds of this sale the payment of the matured under-.
lying lien bonds, equipment obligations and floating
debt was arranged. Of the $35,000,000 general lien.
bonds,only $22,756,164 was a new issue, but in addi—
tion $17,509,043 of the same bonds had been held in,
the company's treasury at the close of the preceding:
year. The two together made $40,265,207, and after
the sale of the $35,000,000 referred to, $5,265,261
still remained in the company's treasury among its
current assets on June 30 1909. It is rather noteworthy that after all the financial operations of the
year, and after providing for the cost of some new
construction work, the net increase in funded debt and
equipment notes for the fiscal year has been no more
than $6,813,771. We might add that in the case of
the Chicago & Eastern Illinois, which is a controlled
property, there has also been a reduction during the
year in floating debt, the aggregate of bills payable
for June 30 1909 being only $1,425,000, against
$2,395,000 June 30 1908.
With reference to the income and operating results
of the St. Louis & San Francisco RR.,the comparisons
are much the same as in the case of the Chicago Rock
Island & Pacific. By this we mean that there has
been a very substantial increase in both the gross
revenues and the net revenues and that aggregate
expenses were larger than in the preceding year,
though, as in the Rock Island case, there were important savings under several main heads. We shall use
the figures exclusive of the results for the:Chicago &
Eastern Illinois, though they are given both ways in
the report. Stated in brief, total operating revenue
increased $2,389,605, or nearly 7%, while expenses
were added to in amount of $156,728, leaving-a.
gain in
the net of $2,232,876, or over 20%. On this road
also there was a tremendous jump in the item of taxes,
the payments for this purpose in 1909 having been
$1,544,604, as against only $948,414 in 1908, thus
cutting.the improvement in net down to $1,636,687.
At the same time there was a falling off in the miscellaneous income, while fixed charges were considerably
larger than in the preceding year. Nevertheless, on
the operations of 1909 a surplus remains over and
above the fixed charges and the small amount required
to pay the 4% dividend on the first preferred stock of $1,128,843, as against a similar surplus in the previous fiscal year of only
$259,324.
1194
THE CHRONICLE
In the St. Louis & San Francisco case total revenues
have not quite got back to the figures of two years
ago, and freight revenues are considerably below the
amount then reached. The commodities statistics in
the report show that besides the gains in the items of
traffic indicating industrial growth and expansion, the
St. Louis & San Francisco had the advantage of a
larger agricultural tonnage. But that was simply
because it had sustained a large reduction in this
tonnage in the previous year. The total increase in
the freight traffic as compared with the previous year
was 1,051,108 tons (which is more than the loss in the
previous year, the falling off from 1907 being in the
tonnage movement one mile), and of this increase
273,336 tons was in the agricultural tonnage and
40,653 tons in the tonnage in animals and animal products. In the mineral tonnage, the net addition was
only 6,310 tons, but in the lumber and forest tonnage
the gain was no less than 628,535 tons, while the tonnage of manufactures increased 78,590 tons and of
other commodities 23,684. Altogether the figures
here, as with the Rock Island Ry.,indicate satisfactory
general growth and development.
The St. Louis & San Francisco's increase in expenses
in the late year followed mainly (as in the Rock Island
case) from larger maintenance outlays; $423,199 more
was spent for ma intenance of way and structures and
$79,408 more for maintenance of equipment. In the
transportation expenses there was a saving of $369,549.
The company reduced its freight-train mileage in face
of a larger freight tonnage and increased its average
train-load (including company freight) from 242 tons
to 256 tons. There was a noteworthy gain in passenger revenues, but the average rate received per passenger per mile was still further reduced, having been for
1909 only 2.07 cts., against 2.15 cts. in 1908 and
2.56 cts. in 1907. A similar decrease occurred on the
Rock Island Lines, where the average in the latest
year was only 1.88 cts., against 1.89 cts. in 1908 and
2.23 cts. in 1907. These reductions indicate how the
two properties have suffered through the lower passenger rates forced upon the lines by State legislatures and
railroad commissions in the territory traversed by the
roads.
In the Rock Island Company report there are summaries showing the general results for all the roads
controlled., namely the Rock Island Lines, together
with the St. Louis & San Francisco, the Chicago &
Eastern Illinois and the Evansville & Terre Haute
and the Evansville & Indianapolis. In 1908 total
operating revenue of the combined roads had dropped
from $112,063,689 to $107,237,129; 1909 sees the total
back to $111,744,240. Net income, however, less
taxes, after having dropped from $34,486,947 to
$28,022,281, has recovered only to $31,610,507. In
the final result there is a surplus above fixed charges
and the dividends paid of $3,561,144 for 1909, as
against only $1,331,359 for 1908, but comparing with
$9,476,396 in 1907. A considerable part of the
mileage of this combination of roads traverses the
section of the Southwest where some of the crops the
present season have not been as good as they were last
season. Still, while there may be some loss of tonnage
on that account in the current fiscal year, it would
seem as if, with the general improvement in business
all over the country,there should be steady progress
toward larger totals.
[VoL. Lxxxix
THE CHICAGO BURLINGTON & QUINCY
REPORT.
Though very little of the stock of the Chicago Burlington & Quincy Railroad Co. remains outstanding in
the hands of private owners, the Great Northern Ry.
and the Northern Pacific Ry owning jointly $107,613,500 out of the $110,839,100 stock, the affairs of the
road and its operating, income and financial results
possess much interest by reason of the size of the
system (it comprising 9,279 miles of road), and the
further fact that it is now and always has been one
of the best managed railroad properties in the country.
Obviously, also, the progress and prosperity of the
company are matters of importance to the shareholders of the Great Northern and the Northern
Pacific, owing to the large equity which these two
companies have in the property.
One would expect a property so situated as the
Burlington & Quincy, and so carefully and progressively administered, to reveal the prevailing trend displayed by railroads generally in the United States
as far as revenues and expenses are concerned, and
that is precisely what we find. As compared with the
preceding year the changes are not very large, particularly bearing in mind the magnitude of the road's
ono--'-'ons, but the showing is in substantial accord
with that for most other Western systems for the same
period of twelve months. By this we mean that gross
revenues have been somewhat larger, while at the
same time expenses have been moderately reduced, the
two together working a substantial improvement in
net earnings. Stated briefly, gross earnings were
added to in amount of $955,293 (slightly more than
1%), while expenses were curtailed in the sum of
$637,465 (this also being slightly more than 1%), thus
producing a gain in net of $1,592,759, or somewhat
over 6%%•
The saving in expenses may be said to have been
mainly in the cost of conducting transportation. As
far as the maintenance outlays are concerned, there
was a decrease of $1,400,262 in the expenditures for
maintenance of way and structures, but $1,008,805
more was spent for maintenance of equipment, and
there was an increase of $294,430 in the general expenses and of $39,816 in the traffic expenses. No
detailed statement of the outlays is given under any
of the leading heads, but the general conclusion which
the figures authorize is that the management was
liberal in its maintenance outlays, the same as in the
past, notwithstanding that the general business situation was depressed the first half of the twelve months
and did not become positively bright and promising
until the second half of the fiscal year. The inference
we have drawn would seem to be particularly admissible in view of the large augmentation in expenses in
the years immediately preceding. The accounts for
the last two fiscal periods are on the new basis of
accounting ordered by the Inter-State Commerce Commission, and this renders comparisons with previous
years, made in accordance with a different system of
classification, both for revenues and expenses,difficult.
It may be affirmed, however, with entire confidence
that in face of a loss in 1907-08 of about 33/i million
dollars in gross earnings, expenses in the aggregate
(not counting the "general" expenses, in which the
changes in classification chiefly came in) remained
Nov. 6 1909.1
THE CHRONICLE
1195
substantially the same as in the previous fiscal year, certain statistics with regard to the traffic operations
indicating that very little saving took place or could of the last seven years, and we also include the figures
for two earlier years (though these latter are notably
be effected.
than
imperfect), for the purpose of indicating in a graphic
Prior to 1907-08 no fact was more prominent
the tremendous increase in expenditures-to an extent way the progress made. The table is as follows.
that wiped out almost entirely the gain in gross
Miles
Average Earns. Rate
Tons
Tons of
Train- per mile per ton
Run by
Moved
Revenue
earnings resulting from the growth in the traffic of the
mile.
run.
Load.
Trains.
Year.
One Mite.
Freight.
in
system. We gave the figures bearing on this point
V11
.
1908-09____ 25,439,521 6,682,388,326 17,491,315 382.04 $3.02 .9 ri
24,964,341 6,655,887,419 17,552,515 379.20 3.02
our review of the report for 1907-08. We showed 1907-08____
1906-07____ 25,471,938 7,169,527,073 18,410,855 389.42 3.07
2.94
1905-06..___
6,347,902,891 17,394,484 364.94
2.73 .4 "
that in 1906-07 the gain in gross earnings had been 1904-05____ 23,627,716
20,901,008 5,241,159,515 16,052,182 326.51
1903-04____ 20,634,024 5,207,483,649 18,760,861 277.57 2.38 8.6 "
had
1902-03____ 20,049,276 4,931,185,014 18,545,775 265.89 2.31 .7 "
no less than $8,326,580, while the addition to net
1901-02
4,001,631,245 18,324,905 218.37 1.96 8.96"
*3,350,000,000 19,168,750 *180.00
been no more than $885,235, of which, moreover, in- 1900-01..
creased taxes had consumed $793,910, leaving the * In part estimated.
It was in 1901 that the Burlington & Quincy came
actual improvement in net earnings for that year as
but
under
the joint control of the Great Northern and the
the result of the $8,326,580 addition to gross of
of
Pacific. In the year ending June 30 1901
Northern
$91,325. In the year before (1905-06) an increase
road
had
an
moved, roughly, 3,350,000,000 tons of
the
with
$8,173,625 in the gross had been attended
For 1908-09 the revenue tonnage
mile.
one
freight
was
actual loss in net of $1,059,684, and this loss
one
mile
aggregated 6,682,388,326 tons,
transported
the
that
raised still further to $1,234,574 by the fact
.100%. But observe that in
of
an
increase
showing
for
company was obliged to pay out $174,890 more
of miles run by the freight
the
number
year
the
latest
taxes. In other words, for these two years combined
of tonnage was only
this
trains
to
volume
doubled
haul
the result had been that an addition of $16,500,206
miles in 1901.
19,168,750
against
to gross earnings had left net income, above expenses 17,491,315 miles, as
it was neces1900-01
in
while
way,
another
and taxes, smaller by $1,143,249. On top of this Stated in
miles in
19,168,750
run
trains
to
freight
there came a further loss in net in 1907-08 whose sary for the
mile,
one
freight
of
tons
3,350,000,000
precise extent cannot be measured by reason of the order to move
one
tons
6,682,388,326
moved
trains
changes in accounting methods. Bearing this in in 1908-09 the
of
This
means
miles.
17,491,315
only
mind, the recovery now shown of $1,592,759 for mile by running
more
correspondingly
train
hauled
each
that
course
190S-09 does not seem striking or remarkable, but on
the whole rather moderate, thus bearing out the con- tons of freight-that is, carried a greatly increased
clusion expressed above that current outlays were on load. In turn the trains have earned more per mile run
notwithstanding the decrease in the average rate rethe usual liberal scale.
per ton per mile. There are n'o statistics
ceived
slightly
were
revenues
It is noteworthy that freight
to show the train earnings per mile in 1900-01;
available
differences
lower even in the latest year (disregarding
they earned only $1 96 per mile run; in
1901-02
in
that may be due to changes in accounting methods),
the other hand, they earned 8302 per
on
1908-09,
notwithstanding the large loss in the preceding year,
run.
the cornparison being $52,768,763 for 1909, against mile
The Burlington & Quincy in the late year had in$53,036,305 for 1908 and $56,516,689 in 1907. The
fixed charges of over $900,000 to meet. This
creased
volume of freight traffic was somewhat larger, howfrom the sale of $16,000,000 general mortgage
followed
the
in
ever, and the decrease followed from a decline
of 1958 in the previous year and a further
bonds
4%
having
per
rate
this
received
average
ton per mile,
of the same issue of bonds in the
$20,000,000
of
sale
for
mills
7.9
for
mills
1909,
as
against 8.0
been only
under
review. On the other hand, the
months
twelve
tons
of
of
number
The
1908.
freight moved was
charged to income in 1909
betterments
of
in
24,964,341
against
aggregate
1908 and 25,471,938
25,439,521,
$3,225,993 in 1908.
against
$2,268,816,
the
only
Evidently
or
proportion
of local
was
tons in 1907.
on the operaremains
surplus
a
the
that
is
while
result
increased
final
of
The
proportion
short-haul freight
betterabove
and
over
months,
Taking
twelve
the
the
of
diminished.
tions
tonnage
long-haul traffic
on the
dividends
8%
and
the
the
charges
of
fixed
of
volume
and
ment
transbasis
movement one mile as the
sursimilar
a
against
1909,
for
$1,202,191
of
at
shares,
stands
6,682,388,326,
portation, the comparison
Had
year.
fiscal
previous
plus
the
only
in
of
$22,366
7,169,against
as
but
against 6,655,887,419 for 1908,
527,073 for 1907. Passenger revenues increased in the betterment appropriation, however, been the
both years. The feature here, however, has been the same in 1909 as in 1908, the surplus would have been
great decline in rates, the average for the latest year only $245,014.
The chief event of the year was the purchase of a
having been 1.86 cents and for 1908 1.85 cents, as
against 2.07 cents for 1907. This decline reflects the majority of the stock of the Colorado & Southern Ry.
action of State legislatures and railroad commis- The cost, according to the balance sheet, was $16,sions in ordering compulsory reductions in passenger 416,337. The net addition to the company's funded
debt for the twelve months was $20,309,000. As the
rates.
expenditures were very small, the comconstruction
often
traffic
have
the
in
to
referred
the
expansion
We
to add very largely to its holdings of
able
was
pany
operating
and
system
to
of
the
the
development
of
efficiency attained since the taking over of the prop- cash out of the proceeds of the bond sales,even after
erty by the Great Northern and the Northern Pacific. paying for its investment in the Colorado & Southern.
But this is a feature which never loses interest. As Accordingly we find the cash on hand for June 30 1909
an indication of what has been accomplished in that reported at $15,064,572, as against only $5,273,702
respect, we bring forward here again a little tabular on June 30 1908. President George B. Harris exstatement given by us in previous annual reviews and presses the opinion that the acquisition of the Coloadd the figures for the latest year. The table shows rado & Southern will prove beneficial to both roads.
d6
1196
THE CHRONICLE
There is no reason to doubt that fact. Very likely,
however,the purchase will not prove directly profitable
to its full extent for the time being. The number of
shares of Colorado & Southern stock acquired is not
stated in the report, but is known to have been $23,657,500 of common. At the present rate of dividends
on these shares, namely 2%, the annual return will be
$473,150. In the fiscal year ending June 30 1909 the
Colorado & Southern earned a surplus above the 2%
dividend of $898,859, but on the other hand it owns a
half-interest in the Trinity & Brazos Valley Ry.,
which on its operations for the twelve months netted
a deficit of $902,023. Until the liability on that
account is greatly reduced,it hardly seems likely that
the dividend distribution will be enlarged, even if
earnings continue to increase as they have been doing
in the new or current fiscal year.
ITEMS ABOUT BANKS, BANKERS AND TRUST 0
.
—The public sales of bank stocks this week aggregate only
37 shares, of which 32 shares were sold at auction and 5
shares at the Stock Exchange. The transactions in trust
company stocks reach a total of 35 shares. Ten shares of
Farmers' Loan & Trust Co. stock were sold at 1880, an advance of 570 points over the price paid in March, when the
last previous public sale was made. The table below,
given in our usual form, shows the actual sales of New York
City bank stocks made during the week at auction and at
the Stock Exchange. Extensive tables showing the bid and
asked quotations, deposits, surplus, &c., of banks and trust
companies in all important cities of 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
department of the paper, and will be found to-day on pages
1204 and 1205.
Shares. BANKS—New York.
Low. High. Close. Last previous sale.
•5 Commerce, Nat. Bank of
192
192
192
Oct. 1909— 189
32 Phenix National Bank
175
175
175
Mch. 1909— 1803'I
TRUST COMPANIES—New York.
160
165
20 Carnegie Trust Co
165
Oct. 1909— 165
10 Farmers' Loan Fc Trust Co_ _ _1880 1880 1880
Mch. 1909-1310
1 N. Y. Life Ins. & Trust Co_1115 1115 1115
Sept. 1909-1100
TRUST COMPANY—Brooklyn.
90
90
4 Williamsburg Trust Cox
90
Sept. 1908— 80 M
• Sold at the Stock Exchange. z Voting trust certificates.
—A new record in clearing transactions was attained at
the New York Clearing House on Wednesday, when the
total exchanges amounted to $736,461,549. The previous
high record was established on Jan. 3 1906, when the exchanges were $686,844,891, and the total transactions, including balances, were $712,467,036. Wednesday's balances
of $27,672,394 brought the total transactions of that day
up to $764,133,943. This showing was attributed to the
large interest and dividend disbursements of Nov. 1 and the
accumulated business resulting from the Election Day holiday.
the sense of the bankers of group No. 5 that it would be inadvisable for
Wisconsin to adopt such a law until the constitutionality had been passed
upon by the United States Supreme Court, and until such a law had been
more fully tested in those States which now have the law in operation,and
that, therefore, we suggest to the committee on legislation of the Wisconsin
Bankers' Association that they request the Governor to refrain from submitting the question of a guaranty deposit law for Wisconsin to the proposed special session of the Legislature.
Another resolution adopted at the meeting advocates
changes in the law so as to permit national banks to loan a
certain portion of their deposits (at least 20%) on real estate
security. J. K. Ilsley, President of the Marshall & Ilsley
Bank of Milwaukee, and George E. Roberts, President of the
Commercial National Bank of Chicago, were speakers at the
Convention, Mr. Ilsley presenting his view of the guaranty
of deposits as seen in Oklahoma, and Mr. Roberts taking the
Central Bank as his theme. Mr. Ilsley happened to be in
Oklahoma at the time of the suspension of the Columbia
Bank & Trust Co. of Oklahoma City. He had accompanied
there the Committee on Banking which had been appointed
at the last session of the Wisconsin Legislature to investigate
the principle of the guaranty of bank deposits, and which
had accidentally directed its studies just at that time to that
centre, Oklahoma having been selected by reason of the fact
that it is the only State where such a law has been in operation for any considerable period. In his comments on the
subject, Mr. Ilsley expressed it as his firm belief that not
only is the principle of deposit guaranty absolutely wrong,
but that in practice such a law will bring disaster to the
entire community. This, he declared, is being shown at the
present time in Oklahoma. Furthermore, he said, it is a
fair inference that the law has produced unsound banking
conditions in Oklahoma of which more evidence is likely to
come to the surface in the near future. As to the necessity
for proper safeguards for the protection of the depositors
and stockholders, Mr. Ilsley said:
"While I have no faith in the guaranty idea, I do not think we should sit
still and make no effort to improve the management and regulation of banks
on proper lines. Some way, for instance, should be found to prevent one
man being left to run a bank as he pleases, without check or hindrance by
fellow officers or directors. Improvements also in the examinations made by
the national and State banking departments should be brought about. In
our State, Bank Commissioner Bergh, I believe, is doing all that can be
expected of him, with the means at his command; but the law under which
he acts can be considerably strengthened.
"But, above all, there should be a stronger spirit of co-operation among
bankers themselves for the honor and good of their profession. The special
examiners employed by a number of clearing-house associations are doing
excellent work,and the system is approved by conservative bankers wherever
it has been tried.
"I have been told recently by bankers of Minneapolis and Kansas City
that they would not be without their own clearing-house examiners, who,
In several instances, have already been the means of correcting abuses which,
If allowed to run, might have led to serious trouble. While the Milwaukee
clearing house has not yet adopted the plan, it has been discussed, and I
hope it will not be long before it is put in operation there. In the meantime
several Milwaukee banks employ chartered accountants annually to go over
their affairs and report in detail to the directors. Eventually I expect that
the clearing-house associations in all our cities will find it desirable to fall in
line, and by voluntary co-operation put in force improved methods for the
protection of their depositors and stockholders.
Mr. Roberts, in his advocacy of the Central Bank plan,
argued that "it offers a more comprehensive treatment of the
currency problem than any other plan. It provides abundant elasticity under responsible control. It provides a
fiscal agency for the Government through which its enormous
collections and disbursements may be handled with the least
disturbance to the money market. It would give unity and
cohesion and elasticity to our entire banking system which
—Lee McClung, the new Treasurer of the United States, can be given in no other way."
who succeeds Charles H. Treat, resigned, was sworn into
—Members of Group 2 of the Ohio Bankers' Association
office on the 1st inst. On the same date A. Piatt Andrew declared
themselves as opposed to the establishment of
took the oath of office as Director of the Mint, to which he postal
savings banks by the Government in resolutions
was recently chosen. Mr. Andrew, who has been assisting adopted at a
meeting held at Findlay on October 25. They
the National Monetary Commission in its currency studies, also declared the
guaranty of bank deposits to be inimical
will accompany Senator Aldrich on his tour of lectures in the to sound and safe
banking.
West, returning to Washington to assume the duties of his
statement with regard to the affairs of the defunct
—A
new post about the middle of the month.
Columbia Bank & Trust Co. of Oklahoma City was issued by
No successor has as yet been named to James B. Reynolds,
Bank Commissioner A. M. Young on Oct. 30. Mr.
State
who retired on the 1st inst. as an Assistant Secretary of the
Young reports that since the State took charge of the instiTreasury to become a member of the Tariff Board.
tution on Sept. 28 it has liquidated $2,489,372 of the bank's
—At its annual meeting at Waukesha, Wis., on Oct. 29, liabilities. The
liabilities still outstanding are reported as
Group 5 of the Wisconsin Bankers' Association adopted the $411,675, in addition to which the
institution owes $210,000
following resolution urging the Committee on Legislation to of State and county
funds, which it is stated have not yet
request the Governor to refrain from proposing 'egisla- been paid and which are not included by Comthissioner
tion for the guaranty of deposits:
Young among the ordinary liabilities of the bank, for the
Resolved, That in view of the recent decision of the United States Court
for Nebraska against the constitutionality of the guaranty-deposit law, reason that he declares the surety companies are liable for
and in view of the involved situation in Oklahoma at the present time, it is the amount. In the work of liquidating the bank $503,725
Nov. 6 1909.1
THE CHRONICLE
1197
of the State guaranty fund has been used. The following Copper Bank, but not directors, will be added thereto.
statement concerning the assets of the institution is taken The entire board will consist of:
Daniel Barnes, William B. Boulton, Thomas P. Fowler, Horace E.
from the "Chicago Record-Herald":
Garth,
Hentz, Thomas H. Hubbard, William A. Jamison, Clarence
At the present time he (Commissioner Young) has assets of the bank in
his possession amounting to a total of $1,199,600. Of this amount probably $200,000 could be referred to as first-class assets. Almost a million
dollars of these assets are of doubtful class. In his report Commissioner
Young sets forth $937,818 as "bills receivable." Overdrafts found in the
bank at the time of its failure to the amount of $63,857 50 have not been
collected. In his statement Mr. Young sets forth that W. L. Norton and
others have assigned to the State Banking Board additional securities to
aid in the work of liquidation as follows: Negotiable notes, $240,600;
bonds delivered and guaranteed, $124,000; oil-producing properties an_
praised at $183,000, making a total of $563,600. To this Mr. Young adds
the bank's assets, which he has not yet realized upon,amounting to $1,199,600 63. This gives him a grand total of $1,763,200 63, which he may yet
call upon in the work of liquidation. These assets are to be called upon
to meet the $411,675 41 of the bank's general liabilities, the $210,000 of
State and county deposits yet unpaid and the $502,725 25 of the State
guaranty fund which has been used.
Henry
H. Kelsey, Andrew A. Knowles, Lowell Lincoln, Gates W. McGarrah,
V. Event Macy, Henry R. Mallory, Edgar L. Marston, S. T. Morgan,
Alexander E. Orr, Nicholas F. Palmer, Charles M. Pratt, George W.
Quintard, Anton A. Raven, Percy A. Rockefeller, Henry B. Stokes and
John T. Willets (the foregoing being representatives of the Mechanics-) and
the following from the National Copper: F. Lothrop Ames, James M.
Beck, James C.- Bishop, Charles F. Brooker, W. R. Craig, H. 0. Havemeyer, H. H. Hewitt, James Jourdan, Adolph Lewisohn, William A.
Paine, Robert C. Pruyn, F. W. Roebling, Charles H. Sabin, George R.
Sheldon, R. M. Stuart-Wortley, John D. Ryan and Thomas F. Cole.
The new bank will have its quarters at 35 Wall St., the
present offices of the Mechanics'. The National Copper
Bank is located at 115 Broadway. The noteworthy growth
of this institution since the date of its opening on May 1 1907
has been commented on from time to time in these columns.
—The managers of the foreign exchange departments of Its resources at the time of the last call of the Comptroller
the local banking institutions held another meeting this of the Currency (Sept. 1) were $42,032,691, With gross deweek to discuss the reforms under consideration with regard posits on the same of $36,301,481. The Mechanics' Nato foreign exchange operations. Plans to this end were in- tional on that date showed resources of $63,734,426 and
stituted early in September, when a committee was named gross deposits of $55,430,475. The Copper Bank has a
to report on various propositions, chief of which concerns capital and surplus of $2,000,000 each and undivided profits
the advisability of placing the exchange dealings on a cash of $734,333. The Mechanics' has a capital and surplus of
basis. It is understood that the committee at Thursday's $3,000,000 each, with undivided profits of $767,338. The
meeting reported in favor of this move, recommending standing and prominence of President McGarrah as a New
payment upon delivery of the exchange instead of a day York Clearing House banker and his long and successful
or two after delivery, as is now the case. Opposition to the business career are well known in financial circles. He comproposed plan,. however, was expressed by some of those in menced work as a clerk in the Goshen National Bank,
attendance, the contention being made that the change Goshen, N. Y., in 1881, started in New York as check clerk
would result in a disadvantage to the private bankers, of the New York Produce Exchange Bank in 1883, later
where they were unable to deposit their checks on the day becoming its Assistant Cashier. During 1898 Mr. Mcof the sale, owing to their receipt after banking hours. In Garrah was chosen Cashier of the Leather Manufacturers'
view of this the committee was directed to seek to perfect National Bank and elected President of the institution in
arrangements whereby the private bankers may be enabled 1902. When this bank was merged with the Mechanics'
to clear their checks early the following morning, this action National Bank in 1904, Mr. McGarrah was made President
being followed by an adjournment of the meeting. Emil of the consolidated institution.
Mr Sabin's early start was made as a bank clerk in the
Carlbach, of J. & W. Seligman & Co., has been made a
member of the committee appointed on Sept. 9, consisting National Commercial Bank of Albany during 1891; leaving
of John E. Gardin, James M. Donald, Edward F. Whitney, there he became teller of the Park Bank, Albany; afterMax May, Stephen H. Voorhees and Charles R. Scott. wards Cashier of the National City Bank, Albany;
returning once more to the National Commercial Bank to
Clifford P. Hunt is Secretary of the committee.
be its Vice-President and Manager. When a metropolitan
—William H. Taylor, who was a Vice-President of the
bank for the copper interests was talked about in 1907, he
in
early
Bowling Green Trust Co. prior to its consolidation
his office with the Albany institution and came
resigned
the year with the Equitable Trust Co., has become Chairit. The resources and position of the
organize
to
here
National
man of the executive committee of the Mercantile
Copper Bank are the result of two and a half years '
National
Bank of this city.
of his able management.
—F. C. Walcott, who several months ago became asso—John Stewart Kennedy, a notable philanthropist and
ciated with the banking firm of William P. Bonbright & Co., formerly prominent as a financier, died on Sunday, Oct. 31,
has resigned as Vice-President of the Knickerbocker Trust at his residence in this city. Mr.. Kennedy was in his
Co. of this city. Francis Henderson, while continuing as eightieth year. He was born in Scotland, near Glasgow, on
Trust Officer of the institution, will discharge the duties Jan. 4 1830. His start in business was begun at the age of
which had devolved upon the retiring Vice-President.
thirteen in a shipping office, where he remained for four
—John J. Henderson, of the firm of Newburger, Hender- years, when he entered the service of a coal and iron concern.
son & Loeb, has been chosen to the board of the Continental In 1850, at the age of twenty years, an offer to travel in
Title & Trust Co. of Philadelphia, succeeding Ephraim the United States and Canada for two years in the interest
Brice, deceased.
of a London firm engaged in the iron and metal trades
—A consolidation planned between two of the larger was accepted by him, and at the conclusion of that period
banks of the city will result in an institution which, with he returned to Scotland to assume charge of the firm's
aggregate resources in the neighborhood of $100,000,000, branch there. Mr. Kennedy again identified himself with
will take a leading position among the local financial organi- business affairs here in 1857, becoming associated with the
zations. The banks to be united are the Mechanics' National banking firm of M. K. Jesup & Co., in which he was a partBank and the National Copper Bank, the first named one ner for ten years, retiring from membership therein in 1867.
of the oldest of the city's banks, its organization dating from While he was affiliated with the house, a Chicago branch was
1810, and the Copper Bank one of the newer institutions, established under the name of Jesup, Kennedy & Co. In
having been in operation less than three years. The bank 1868 he founded the firm of J. S Kennedy & Co. He retired
growing out of the union will be styled the Mechanics' & from this connection in 1883, his nephew succeeding him as
Metals National Bank, and it is to have a capital of $6,000,- head of the firm, the name thereupon becoming J. Kennedy
000. Gates W. McGarrah, the present head of the Mechan- Tod & Co. Mr. Kennedy figured as prominently in railroad
ics', will be President of the consolidated institution, and activities as in banking affairs. As an associate of J. J. Hill
Charles H. Sabin, President of the National Copper Bank, in the railroad development of the Northwest he was interwill be First Vice-President. It is stated that the consoli- ested in the construction of what is now the Great Northern
dation as originally contemplated was along the lines of Ry. He was a member of the syndicate which contracted
the English plan of joint general managers with equal with the Canadian Government to construct the Canadian
powers, but as this was not feasible under the national Pacific Ry., and was also one of the incorporators, appointed
banking laws, an arrangement was made which gives Mr. by Congress, of the Union Pacific Ry. His railroad connecSabin equal powers and duties with Mr. McGarrah. The tions at the time of his death were as director of the New
directorate of the new bank will be made up of both boards York Chicago & St. Louis RR. Co., the Northern Pacific, the
of the consolidating institutions, and in addition John D. Cleveland & Pittsburgh RR., the Pittsburgh Fort Wayne
Ryan and Thomas F. Cole, who are Vice-Presidents of the & Chicago and the Albany & Susquehanna RR. He was
1198
THE CHRONICLE
also on the directorate of the following financial institutions:
The Central Trust Co., the United States Trust Co., the Title
Guarantee & Trust Co., the Bank of the Manhattan Co.
and the Hudson Trust Co. of New Jersey. Both a large
share of his time and money was given by Mr. Kennedy
in the furtherance of charitable and educational pursuits,
but in view of his policy of keeping the knowledge of such
benefactions as much as possible from the public, their extent is likely to remain unknown. One of his principal gifts
was the endowment of $1,000,000 made a year ago to the
Presbyterian Hospital, of which he was President for twentyfive years, besides which he gave $400,000 for the erection of
a nurses' home opposite the hospital. In 1893 the United
Charities Building, at Fourth Avenue and 22d Street, was
given by Mr. Kennedy in trust to four societies—the Charity
Organization Society, the City Mission and Tract Society,
the Association for Improving the Condition of the Poor
and the Children's • Aid Society—enabling them to occupy
their offices practically rent free. Other large gifts were the
presentation of $500,000 to Columbia College and $250,000
to the School of Philanthropy of the Charity Organization
Society. Mr. Kennedy was at one time a Vice-President of
the New York Chamber of Commerce. A special committee
of the Chamber, appointed by President J. Edward Simmons, attended the funeral on Wednesday.
—Col. Samuel Endicott Peabody, formerly President of
the American Loan & Trust Co. of Boston (now the American
Trust Co.) and a banker of international repute, died on the
30th ult. Mr. Peabody was born in Salem, Mass., in 1825,
and was a direct descendant of John Endicott, the first
Governor of the Massachusetts Bay Colony. During the
seventies Mr. Peabody was a partner in the London banking
house of J. S. Morgan & Co., which succeeded the firm of
George Peabody & Co. After spending some years abroad,
he returned to this country, becoming a director of the
American Loan & Trust Co., later serving as its President,
and still later as chairman of its board of directors. He
had also formerly been President of the Salem National
Bank. At the time of his death he was a director in that
institution, a trustee of the Massachusetts Electric Companies and a director of the Electric Corporation and the
Eastern Audit Co. A son, George Lee Peabody, is one of
the members of the banking firm of Lee, Higginson & Co.
—The Agricultural National Bank of Pittsfield, Mass.,
has issued invitations for the informal inspection of its new
bank building and safe-deposit vaults to-day, the 6th inst.
—Improvements which have been designed in the building
occupied by the Market Street National Bank of Philadelphia at 1107 Market Street will result in practically an entirely new home for the institution. It is planned to completely remodel the present structure, although the bank
will continue to conduct business on the premises during
the work of reconstruction. The principal alterations will
be those in the front portion of the structure; this part will
be removed and will be replaced .by Georgia white marble
in Greek architectural effect, with two large Corinthian
columns on either side. The entrance doors will be of
wrought-iron grill, with Greek design, conforming with the
rest of the exterior. The interior alterations call for a
wainscoting the entire length of the structure of Italian
Pavanazzo marble, which will also be used in the vestibule
and along the lower part of the counter. There will also be
a new skylight, which will extend from the Market Street
entrance back to the director& rooms. All the woodwork and desk furniture is to be of mahogany. It is expected that about six months' time will be required in which
to complete the changes. The bank has a capital of $1,000,000, surplus and net profits (Sept. 1) of $1,087,097, deposits
of $11,440,300 and total resources of $14,517,297. George
H. Earle Jr., President, is assisted in the management by
James F. Sullivan and George D. McCreary, Vice-Presidents,
and William P. Sinnett, Cashier.
[VOL. Lxxxix.
—David P. Black was last week named by Judge Kunkel
at Harrisburg as receiver of the Land Trust Co. of Pittsburgh and Harry S. Calvert was appointed receiver of the
Mercantile Trust Co. of that city. In view of his appointment Mr. Calvert has tendered his resignation as Secretary
of the Pennsylvania State Railroad Commission. The two
institutions closed their doors on Sept. 28. The Land Trust
held a controlling interest, it is understood,in the Mercantile.
A petition was presented by H. M. Scott, a stockholder and
counsel for a committee of stockholders, asking for the
appointment as receiver of both companies of 0. P. Cochran,
who,it was said, had agreed, if appointed, to settle in full with
all depositors within thirty days.
—The seven-year sentence imposed in July 1907 on Thomas
W. Harvey,formerly a teller in the Enterprise National Bank
of Allegheny, which failed in October 1905, has been commuted to three years by President Taft. With the time
allowed for good behavior, his release from the penitentiary
will occur in September 1910. Harvey was indicted on
charges of aiding and abetting the deceased Cashier, T. Lee
Clark, in misapplying the funds of the institution. The
appeal, it is stated, was made chiefly on the ground that he
was a tool and not a principal. The sentences of two other
employees of the bank, Edward P. McMillan and Charles
Menzemer, were commuted last year by President Roosevelt.
—The directors of the Guardian Trust Co. of Pittsburgh,
Pa., have elected Christopher Magee Vice-President of the
institution.
—On Oct. 18 Wm. H. Peck, for more than twenty-seven
years Cashier of the Third National Bank of Scranton, Pa.,
was elected its President. J. L. Connell, eldest son of the
late Hon. Wm. Connell, who was President for over twentynine years to the time of his death, was elected Vice-President; B. B. Hicks, connected with the bank for more than
sixteen years, was elected Cashier,.and Chas. R. Connell
was chosen a director to fill the vacancy caused by the death
of his father, the former President. The directors are:
James Archbald, Geo. H. Catlin, J. L. Connell, Chas. R.
Connell, Luther Keller, W. A. May and Wm. H. Peck.
—The Baltimore "Sun" in its issue of Oct. 27 reports
that the suggestion made by some of the holders of the preferred stock of the Maryland Trust Co. of Baltimore that the
holdings of this class of stock be surrendered on payment
of par and accumulated dividends was voted down by the
directors on Tuesday, the 26th ult. The suggestion that
the stock be retired was made originally, it is stated, by the
largest holders, who considered it an opportune time for its
retirement. The preferred stock,amounting to $1,000,000,
and bearing interest at 6%, was issued at the time of the
company's reorganization in 1905. There is also a common
stock issue of $1,000,000.
—The Government's petition for the cancellation of the
$50,000 bond of John R. Walsh and his commitment to
jail pending the settlement of his case was denied by the
U. S. Circuit Court of Appeals at Chicago in a decision
handed down on Oct. 28. Mr. Walsh has been under a
five-year sentence for more than a year on charges alleging
misapplication of the funds of the failed Chicago National
Bank. The verdict of the lower Court was sustained early
last month by the Appellate Court, and pending a hearing
before the Ti. S. Supreme Court he had been permitted to
be at liberty under his original bond of $50,000. It is
claimed that the movement to have the bond canceled was
due to the fear that Mr. Walsh might forfeit it and leave the
country: Judge Grosscup, in reading the decision of himself and his associates, Judges Baker and Seaman, said:
Nothing is brought to our attention In the petition that shows any
greater likelihood that the plaintiff In error will not remain in the jurisdiction of the Court, to answer to the final order of the Court, than ordinarily exists In criminal cases at this stage of the procedure. To sustain,
therefore, the prayer of this petition would be to say that no convicted
man whose conviction has been affirmed shall be allowed to be out on ball
pending a petition for rehearing or an application to the Supreme Court
for writ of certiorari. This is not the attitude that Courts of Appeal ought
to take towards parties whose appeals have not been finally passed upon.
The petition is denied.
This action does not, however, preclude the Government from keeping
plaintiff In error under such surveillance as it may deem proper, nor from
asking for increased ball. The matter of Increased bail is not before us in
this petition.
•
—The jury in the case of David J. Richardson, former
Cashier of the failed Cosmopolitan National Bank of Pittsburgh, on the 1st inst. returned a verdict of guilty on 24 of
the 26 counts in the indictment charging the making of false
entries in the books of the bank and false reports to .the
An application for a rehearing of the case before the U. S.
Comptroller of the Currency. The bank suspended on Circuit Court of Appeals was filed by Mr. Walsh's counsel
Sept. 5 1908.
on the 4th inst.
Nov. 6 1909.j
1199
THE CHRONICLE
It is understood that Mr. Walsh has not met the quarterly
interest payment of $71,218 due Sept. 30 on his indebtedness
of $7,121,887 to the Chicago Clearing-House banks, although
Oct. 28 was the last day of grace allowed under the agreement. Negotiations have been reported as in progress
for the sale of his railroad properties, and it seems likely
that the Clearing House will await the outcome of these
proceedings. Reports from Chicago yesterday stated that
the guarantors of the note had transferred $1,000,000 in
real estate to the First National Bank, as agent for the
Clearing House, to secure the interest on the note.
-Charles F. Spalding, a Chicago capitalist and a director
in the Commercial National Bank and Hibernian Banking
Association of Chicago and the First National Bank of
Marinette, Wis., died on October 24 after three weeks' illness. He was President of the Spalding Lumber Co., resident Vice-President of the American Surety Co. of New York,
and a director in the North Shore Electric Co., the Fox River
Valley Telegraph & Telephone Co., the Holcombe-Hayes
Co., etc. He was also a prominent member in the leading
Chicago clubs.
-John J. Bryant Jr., Secretary of the Farwell Trust Co.
of Chicago, on the 1st inst. resigned his position to engage
in a somewhat different line of business. A. G. Lester,
for the present, will combine the offices of Vice-President and
Secretary for the Farwell Trust Co.
-A meeting of Group No. 3 of the Missouri Bankers'
Association will be held at St. Joseph on Thursday, the
11th inst.
-The directors of the St. Louis Union Trust Co. of St.
Louis have elected John D. Filley to the newly-created office
of Vice-Chairman of the board of directors. Mr. Filley
had been President of the company for the past year, having
been chosen as successor to Thomas W. West when the
latter became Chairman of the Board of Directors, in which
post he still continues. The new President of the institution is N. A. McMillan, who has heretofore been a VicePresident. The personnel of the staff is otherwise unchanged, with John F. Shepley, R. S. Brookings and H. C.
Haarstick as Vice-Presidents; Thomas H. West Jr., Secretary; F. V. Dubrouillet, Treasurer; F. X. Ryan, Assistant
Secretary; J. S. Walker, Assistant Treasurer; Isaac II. Orr,
Trust Officer, and A. C. Stewart, Counsel.
-The officers chosen for the new Drovers' National Bank
of Kansas City, Mo., are I. W. Avitt, President; Thomas G.
Hutt, Vice-President, and Robert E. Booth, Cashier. The
bank has a capital of $200,000 and surplus of $20,000, the
stock, in $100 shares, having been disposed of at $110 per
share.
-At a meeting of the directors of the Appomattox Trust
Co. of Petersburg, Va., on the 21st ult., William L. Zimmer was elected President, succeeding Charles Hall Davis,
resigned, and W. A. North was appointed acting Cashier, to
fill the vacancy caused by the resignation of Carter R.
Bishop. Mr. Zimmer is a new member of the directorate,
with which the retiring President continues to be identified.
-Herbert W. Jackson has been elected President of the
Virginia Trust Company of Richmond, succeeding James N.
Boyd, who has become First Vice-President of the institution. John M. Miller Jr., Vice-President and Cashier of the
First National Bank of Richmond, has been chosen Second
Vice-President of the trust company. Both Messrs. Jackson and Miller were lately elected directors of the institution
and members of its executive committee. With his election
to the head of the company, Mr. Jackson resigns as Cashier
of the Commercial National Bank of Raleigh, N. C. The
stockholders of the Virginia Trust on the 1st inst. ratified the
proposition to increase the capital from $500,000 to $1,000,000. The enlarged capital becomes full paid in nine months.
-Homer S. King, who declined re-election as President of
the Bank of California, San Francisco at the annual meeting
on Oct. 13, has been succeeded in that office by Frank
B. Anderson, heretofore Vice-President. Mr. King continues
as a director of the institution.
Ten Months.
October.
Clearings at
1908.
1909
CanadaMontreal
Toronto
Winnipeg
Vancouver_ _
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria
Edmonton_ _ _ _
Regina
Inc. or
Dec. I
Inc. or
Dec.
1908.
1909.
% '
186,061,093 140,602,161 +32.3 1,476,759,485 1,185,025,737 +24.6
133,768,916 115,724,711 +15.6 1,156,179,446 921,608.405 +25 5
97,862,863 73,794,782 +32.6 558,602,559 452,429,936 +23.5
31,019,956 17,502,569 +77.2 223,818,013 148,135,866 +51.1
15,243,203 14,594,847 +4.4 141,603.864 126,994,060 +11.5
90.209,745 +5.3
10,530.055 10,023,826 +5.1. 94,990,161
74,277,457 +4.7
77,738,333
7,840,632 8,147,193 -3.8
58,898,405 +15.2
8.056,929 6,813,326 +18.2, 67,871,512
55,054,427 +6.2
6,454,628 7,720.337 -16.4; 58,483,694
49,450,499 +51.1
74,744,399
9,581.691 6,491.078 +47.6
46,677,885 +8.7
5,271,849 4,816,683 +9.4. 50,738,437
45,367,098 +22.1
6,873,867 5,062,689 +35.8; 55,395,818
30,279,001 +34.7
4,464,143 3,429,841 +30.2! 40,775.157
tal.
to
in
d
include
Not
3,769,900
Total Canada 523.029,825 414,724,043 +26.1 4,077.700,878 3,284,408,521 +24.2
The clearings for the week ending Oct. 30 make quite a
satisfactory comparison with thesame week of 1908, the increase in the aggregate having been 18.1%.
Week ending October 30.
Clearings at1908.
1909.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
Calgary
London
Victoria
Edmonton
Regina
36,288,073
27,500.000
20,585,412
6,293,357
3,151,348
2,172,716
1,482,199
1,523,680
1,370.891
2,265,901
1,059,420
1,222,191
948,806
831,875
Inc. or
Dec.
1906.
1907.
29,992,107 +21.0 29,376,111 29,342,775
25,285,089 +8.8 22,393,037 26.771,330
17,355,939 +18.6 12,614,071 14,065,387
3,406,549 +84.7 3,369,514 3,086,291
2,848,785 +10.6 2,245,548 2,463,572
2,104,321 +3.2 1,843,812 1,489,963
1,529,269 -3.1 1,617,560 1,883,601
1,360.993 +12.0 1,832,136 1,930,361
896,691 1,023,224
1,549,747 -11.5
1,366,160 +65.9 1,099,953 1,300,969
973,728 +8.8 1,140,126 1.173,594
1,227,383 -0.4 1,039,342 1,131,456
696,960
691,063
644,051 +47.3
Not Incl. In total.
105,863,994 89,614,121 +18.1 80,158,964 86.359,483
Total Canada
Clearings by Telegraph-Sales of Stocks Bonds, 80.The subjoined table, covering clearings for the current week,
usually appears on the first page of each issue, but on account
of the length of the other tables is crowded out once a month.
Clearings-Returns by Telegraph Nov. 6.
1909
1908.
I
,o
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
$1,835,345,293
171.938,164
121,575,285
27,195,294
234,001,373
66,982,339
19,139,660
$1,437,322,157
151 470,262
97.539,540
21.416,710
190,963,276
50,425,163
12,210,141
+27.7
+13.5
+24.8
+26.9
+22.5
+32.8
+56.7
Seven cities, 5 days
Other cities, 5 days
32,476,177,413
433,967,492
$1,961,347,249
405,263,419
+ 26.2
+19.4
Total all cities, 5 days
All cities, 1 day
$2,960,144,905
615,417,208
32,366,610,668
555,805,019
+25.1
+10.7
33,575,552,113
32.922,415,637
+22.4
Total all cities for week
Pacific Clearings brought forward from first page.
Ten Months.
October.
Clearings at
1909.
San Francisco_
Los Angeles _._
Seattle
Portland
Spokane
Salt Lake City_
Tacoma
Oakland
Helena
Sacramento_
San 1)lego
Stockton
Fargo
Sioux Falls
San Jose
Fresno*
Nor. Yakima._
Billings
1908.
Inc. or
Dec.
1903.
1909.
Inc. or
Dec.
$
%
3
S
$
%
179,551,244 170,825,517 +5.1 1,598,685,903 1,450,855,211 +10.2
55,664,759 42,992.571 +29.5 545,631,709 407,766,526 +33.8
57,593,113 43,090,208 +33.4 473,475,212 349,324,800 +35.5
40,908,548 32.713,006 +25.1 315,183,027 254,932,692 +23.6
21,917,547 16,387,686 +33.7 163,520,619 125,768,277 +30.43
30,094,876 23,950,698 +25.7 271,123,406 199,686,052 +35.8
26,845,904 21,625,629 + 4.1 229,336,463 177,484,060 +29.2
62,736,247 +25.5
78,757,405
7,836,243 7,311.520 +7.2
32,145,402 +20.4
38,695,353
4,940,889 4,172,432 +18.4
35,973,367 +19.7
43,068,482
4,925,118 4,055,130 +21.2
31.465,205 +37.5
43,259.889
4,191,895 3,828,297 +9.5
19,701,160 +13.6
22,373,794
2,696,339 2,257,781 +19,4
23,704,929 +27.8
30,287,265
4,599,702 3,592,337 +28.0
23,550,334 +19.0
28,034.937
4,090,670 3,604,978 +13.5
19,144,625 +5.1
20,123,668
2,750,229 2,358,280 +16.6
15,120,260
22,527,342
3,248,904 2,736,949 +18.7
6,971,035 -- _
15,519,551
1,919,740 1,317,760 +45.7
7,782,240 +9:4
8,515,325
955,025 +47.7
1,411,977
Total Pacific 450,018,553 383,831.145 +17.3 3,910,077,457 3,222,071,127 +21.4
* Not included in total for month and ten months; comparison incomplete.
Week ending October 30.
Clearings at
1909.
•
s
1908.
'Inc. or
Dec.
San Francisco_ _ _
Los Angeles
Seattle
Portland
Spokane
Salt Lake City_ _
Tacoma
_
Oakland_ _ _
lIelena
Sacramento
San Diego
Stockton
Fargo
Sioux Fails
San Jose
Fresno
North Yakima _ _
Billings
41,497,457
12,612,021
14,875,195
8,336,893
4,548,918
6,703,733
6.058,600
1,710,032
1,701,765
1,038,347
862,000
554,268
921,147
860,000
604,412
706,840
421.710
276,452
1 %
36,047,609, +15.1
9,143.183 +38.0
9,029,565 +64.7
0,058,293 +37.6
3,008,059 +51.2
4,698,835 +44.6
4,486,999 +35.0
1,403,404 +21.9
849,580 +100.3
786,525 +38.4
700,000 +23.1
460,336 +20.4
661,987 +39.2
700,000 +22.9
497,000 +21.6
678,369 +4.2
289,723 +45.5
203,431 +35.9
Total Pacific_ _
104,429,790
79,702,898 +31.0
1907.
$
36,733,762
9,135,723
10,884,41
5,619,847
3,659,507
5,117,617
4,941,732
1,976,875
1,203,20
81,458,5141
500.00
760,82
525,0
400,00
1906.
51,233,612
10.817,047
10,685,079
6,338,065
3,001,262
5,575,460
4,642,811
3,323,613
790,458
485.494
426,868
318.012
97.587,781
Canadian Bank Clearings.-The clearings of the Canadian
Our usual monthly detailed statement of transactions on
banks for the month of October 1909 show an increase over
the same month of.1908 of 26.1%, and for the ten months the New York Stock Exchange is appended. The results
for the ten months of 1909 and 1908 are given below:
the gain reaches 24.2%.
1200
THE CHRONICLE
Ten Months 1009.
Descripdon.
Par Value
or Quantity.
Actual
Value.
Ten Months 1908.
Aver. Par Value
Price. or Quantity.
Aver.
Price
Actual
Value.
178,302,309
StockiSh's.
149,237,666
JVal_ $16343,842,775$15876,450,426 97.1 $13163,728,450510952,562,896 83.2
RR. bonds$1,084,411,100$1,053,307,708 97.1 $706,316,200 $611,246,189 88.0
Gov't bds_
$542,200
5591,391 109.1
$473,620
$518.050 109.3
State bds _ _
$31,717,200
531,601,565 99.6
$73,334,000
$76,226,928 104.0
Bank stks_
$157,650
$436,989 276.6
$205,500
8408,113 198.6
Total
_ $17460,673,925516962,385,079 97.1 513944,057,770511640,962,176 83.5
The following compilation covers the clearings by months
since Jan. 1.:
(Commercial and 43Ziscelliancousclews
Breadstuffs Figures Brought from Page 1231.-Thestatements below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
Flour.
Receipts al-
Wheat.
Corn.
Oats.
Rye.
Barley.
MONTHLY CLEARINGS.
Clearings, Total All.
Clearings Outside New York.
Month.
1909.
1909.
1008.
1908.
2
Jan __ 14,036,198,325 11,373,873,175 +11.4 5,150,898,630 4,623,598,218 +11.4
Feb _ 11,244,250,289 8,767,501,643 +28.2 4,366,544,965 3,871,470,815 +12.6
Mch . 12,606,397,179 9,788,960,321 +28.7 5,119,549,050 4,287,919,982 +19.3
1st qr_ 37,895.835 793 29,930,335,139
April _ 13,664,720,597 9,776,913,522
May _ 12,889,301,041 10,868,844,965
June - 14,134,647,245 9,835,204,180
+27.2 14,626,992,654 12,782,989,015
+39.8 5,059,991.920 4,289.339.214
+19.5 4,893,050,949 4,199,011,134
+45.5 5,022,944,941 4,181,344,263
+14.4
+15.4
+16.5
+20.2
2d qr_ 40,788,668,883 30,480,962,667 +33.8 14,975,986,810 12,669,694,611 +18.2
6 mos. 78,684,504,676 60,411,297,806
July_ _ 13,450,296,601 11,083,067,658
Aug _ _ 13,494,088,282 10,258,939,077
Sept_ _ 13,523,716,649 11,123,659,566
+30.2 29,602,979.464 25,452,683,626
+21.4 5,130,554,853 4,464,979,899
+31.5 4,807.150,872 4,033,825,469
+21.6 5,045,339,702 4,341,175,951
+16.3
+14.9
+19.1
+15.3
3d qr_ 40,468,101,53232,465,666,301 +24.7 14,983,545,427 12,839,981,319 +16.7
9 mos_ 119152606,208 92,876,964,107 +28.3 44,586,524,891 38,292.664,945 +16.4
Oct __ 15,851,214,417 12,148,793,193 +30.5 5,798,872,871 4,914,521,420 +18.0
The course of bank clearings at leading cities of the country
for the month of October and since January 1 in each of the
last four years is shown in the subjoined statement:
(000,000s
omitted.)
New York
Chicago
Boston
Philadelphia
St. Louis
Pittsburgh
San Francisco
Baltimore
Cincinnati
Kansas City
Cleveland
New Orleans
Minneapolis
Louisville
Detroit
Milwaukee
Los Angeles
Providence
Omaha
Buffalo
St.Paul
Indianapolis
Denver
Richmond
Memphis
Seattle
Hartford
Salt Lake City
Total
Other cities
BANK CLEARINGS AT
October
1909. 1908. 1907.
8
$
$
10,052 7,234 8,196
1,214 1,080 1,169
769
665
769
654
511
672
339
282
315
219
180
241
180
171
201
134
109
144
112
104
119
245
187
179
81
66
83
88
68
86
138
127
151
53
47
61
70
57
65
56
53
57
56
43
50
43
38
41
72
56
69
42
37
42
54
46
55
34
34
36
45
40
41
32
28
30
37
26
27
58
43
51
13
14
16
30
24
29
LEADING CITIES.
-Jan.1 to Oct. 31
1906. 1909.
1908.
1907.
1906.
$
$
$
9,344 84,618 61,819 76,331 86,840
1,000 11,394
9,700 10,451
9,064
795 6,905
5,906
7,039
6.862
693
5,648
4,829
6,165
6,365
2,434
271
2,801
2,509
2,684
227
1,912
1,714
2,329
2,194
207
1,599
1,451
1,892
1,577
131
1,183
1,012
1.255
1,187
116
1,111
1,007
1,181
1,088
133
1,947
1.491
1,400
1,080
80
711
620
768
688
109
697
617
781
796
119
796
853
958
783
57
529
470
542
567
57
627
551
601
540
48
492
446
475
403
51
546
408
472
516
38
316
273
334
323
49
611
494
416
484
37
381
337
325
370
42
411
392
396
333
32
342
309
347
297
31
380
331
344
280
27
289
242
268
249
192
24
220
197
198
52
473
349
421
200
16
150
138
159
151
26
271
200
263
224
19,864 11,370 12,975 13,812 126,814 98,665 118,979 126,105
987
779
880
717
8,190 6,361
7,094
5,804
Total all
15,851 12,149 13,855 14,529 135.005 105,026 126,073 131.909
Outside New York . 5.799 4.915 5,609 5,185 50,386 43,207 49,742 45,069
Plonetarii ownerciaiWnglislf4e
•MINMAIINMINIMNINNss
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.
Mon.
Week ending Nov 5.
Sat.
rues
Wed. Thnrs. Fri.
Silver, per oz...
d 93 1-16
233.4
23 3-16 233%
233
%
Consols, new, 23% per cents__ 82%
82 9-16 82 7-16 82 5-16 82 5-16
82 7-16
For account
823%
823
82%
823%
French rentes (in Paris). _fr. 98.80
99.023% 99.123% 98.00
98.80
Amalgamated Copper Co_ __ - 89
89
91
90
883%
b Anaconda Mining Co
1034
9%
10
10
93%
AtchisonT ooeka & Santa Fe 126%
1273%
1273%
12714
1273%
Preferred
107
107
1073%
10734
1073%
Baltimore & Ohio
119
119
1193
4
1203%
1193%
Preferred
9534
953%
05
953%
943%
Canadian Pacific
_1903%
189%
18934
1893%
1893%
903%
Chesapeake & Ohio
91%
913%
903%
913%
Chicago A111,v. & St. P.m'._ _162
161%
161%
113134
161%
493%
Denver & Rio Grande
50
503%
493%
493%
Preferred
87
8634
87
87
S7
>
Erie
34%
35
35
3434
343%
.4
3
First preferred
483%
4934
49%
49
4914
A
preferred
Second
4034
41
41
403%
403%
Illinois Central
_152
151
152
152
1513%
Louisville & Nashville
1583%
1573%
157
158
1573%
50Z
Missouri Kansas & Texas_
4934
49%
4934
483%
Preferred
..
1.
763%
763%
763%
763%
7634
co
Nat. RR. of Alex., 1st pref..- 58
58
58
58
58
Second preferred
.1
23
233%
23
2314
23
.1
N.Y. Central & Hud. River_138 Y
1393%
1373%
13934
1383%
-4
N. Y. Ont. & Western
483%
4834
48
48
483%
1
Norfolk & Western
98
98
93
98 !
98
Preferred
9234
9214
92
923%
92
.4
Northern Pacific
1523%
152
152
152,
4
152
A
a Pennsylvania
76%76
753%
753%
753%
..1
a Reading
833%
8334
833%
833i
$3%
o
a First preferred
47
47
47
47
47
a Second preferred
50
50
60
50
4934
Rock Island
413%
423%
423%
413%
423%
Southern Pacific
1333%
'
'133
1323%
1323%
1323%
Southern Ry
3134
32
31%
323%
323%
Preferred
713%
72
7114
72
72
Un on Pacific
2083%
2063%
207
208
2073%
Preferred
10621
10634
106
106
1063%
Corporation
Steel
U. S.
933%
93
933%
95
9254
Preferred
1313%
[11 1313%
1313.1 13131 132 •
Wabash
213%
21
203%
2034 •
213%
533%
Preferred
533%
53
533%
533%
76
Eve ded 45
76
76
7534
76
it Price per share. 5£ iterlingj
Chicago ___ _
Milwaukee_ _
Duluth
Minneapolis_
Toledo
Detroit
Cleveland _ _
St. Louis__ _
Peoria
Kansas City
bb/s.191lbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.481bs. inf.56 lbs.
216,954
576,800 1,161,250 2,196,950 1,016,196
59,000
115,150
328,900
45,100
217,500
25,000
528,900
32,680 3,345,478
22,162
229,708
205,369
2,463,090
43,560
89,970
549,230
768,820
45,000
24,900
63,000
4,000
6,036
21,375
21,702
85,885
1,726
11,661
16,163
4,000
130,742
54
58,115
720,230
174,340
416,000
65,000
69,200
28,000
79,115
15,400
272,499
223,250
1,472,050
437,100
235,500
Tot.wk.'09
Same wk.'08
Same wk.'07
499,861
562,609
512,845
9,018,584
5,940,964
5,572,043
2,106,614
1,375,380
2,962,445
215,586
207,077
266,091
4,347,765 2,667,400
3,366,126 1,865,377
5,156,753 2,726,815
Since Aug. 1
1909
6,564,900 110,938,943 40,704,144 59,250,912 27,339,732 2,834,279
1908
6,456,350 108,073,216 29,691,712 60,464,591 35,126,047 2,866,361
5;267,085 82,440,595 57,972,211 73,875,455 27,680,747 2.888,098
1907
Total receipts of flour and grain at the seaboard ports for
the week ended Oct. 30 1909 follow:
Flour,
Wheat,
bbls.
bush,
216,265 1,342,800
65,671
664,685
82,169
703,140
67,373
361,115
5,701
48,862
22,432
8,400
7,142
10,000
1,023
45,843 1,208,494
Receipts atNew York
Boston
Philadelphia
Baltimore
Richmond
New Orleans *
Norfolk
Galveston
Mobile
Montreal
513,617
Total week
517,649
Week 1908
Since Jan. 1 1909_13,799,526
Since Jan. 1 1908_14,852,757
Corn,
bush,
67,500
73,405
11,000
205,209
15,040
104,900
Oats,
bush.
458,275
97,693
119,331
42,459
33,060
66,200
98,000
13,020
1,480
2,575
122,942
Barley,
bush.
85,425
4,082
1,000
Rye,
bush.
1,150
3,989
4,000
10,139
2,910
33,858
4,347,496
589,554
942,535 124,365
22,188
3,685,758
722,533
900,661 441,482 106,839
73,689,194 34,284,576 39,242,601 6406,603 967,562
93,547,999 30,308,881 36,988,265 4946,560 2447,522
* Receipts do not include grain passing through New Orleans for foreign ports on
through bills of lading.
The exports from the several seaboard ports for the week
ending Oct. 30 1909 are shown in the annexed statement:
876,000
Corn, Flour,
bush.
bbls.
41,244 116,217
102,884
6,344
21,760 28,000
85,963
8,239
106,796
6,298
141,428
5,568
13.020
1,023
76,000
2,575
19,000
Total week_ _ _ _3,221,386
Week 1908
3,399,057
513,095 254,831
202,687 270,962
23,680
1,000 74,644
15,760 106,407 96,494
ExportsfromNew York
Boston
Philadelphia
Baltimore
New Orleans - -Galveston
Mobile
Montreal
Wheat,
bush.
931,919
420,406
715,666
152,000
55,075
70,320
Oats,
bush,
605
Rye, Barley,
bush,
bush.
74,644
1,500
Peas,
bush.
1,889
1,424
162
1,000
3,475
8,199
The destination of these exports for the week and since
July 1 1909 is as below:
-----Flou
Whea
Since
Since
Week
July 1
Week
July 1
Exportsforweek and 0c1.30.
1909. Oct. 30.
1909.
since July 1 tobbls.
bbls,
bush.
bush.
United Kingdom___104,187 1,729,427 1,608,058 18,599,142
Continent
65,969 574,605 1,597,328 11,601,652
So. & Cent. Amer
26,759 244,880
127,977
West Indies
15,411 433,570
1,675
Brit. No. Am. Cols_ 9,326
54,820
33,179
80,217
Other Countries
16,000
21,000
ornSince
Week
July 1
Oct. 30.
1909.
bush.
bush.
947,223
180,026
304,968 1,194,278
49,495
575
26,365
711,315
1,161
16,622
8,226
254,831 3.117,428 3,221,386 30,441,446
270,982 3,621,583 3,399,057 50,960,286
513,095 2,927,159
202,687 1,269,486
Total
Total 1908
The world's shipments of wheat and corn for the week
ending Oct. 30 1909 and since July 1 1909 and 1908 are
shown in the following:
Corn.
Wheat.
Exports.
1009.
1Veck
Oct. 30.
Bushels.
North Amer. 5,043,000
Russian ___ 5,984,000
64,000
Danubian __
72,000
Argentine __
Australian_ _ 336,000
0th. countr's 296,000
Total
1908.
Since
July 1.
Bushels.
48,142,000
77,872,000
9,216,000
12,280,000
3,620,000
22,304,000
Since
July 1.
1909.
1Veck
Oct. 30.
1908.
Since
July 1.
Since
July 1.
Bushels.
Bushels.
Bushels. Bushels.
73,191,700 506,000 2,806,000 1,544,400
24,184,000
60,000 5,570.000 5,368,500
17,384,000 195,000 0,988,000 6,389,500
25,310,000 1,267,000 45,784,000 34,578,500
5,464,000
6,228,000
11795000 173,434,000 151,761,700 2,028,000 61,128,000 47,880,900
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Corn.
Wheat.
United
Kingdom. Continent.
Oct. 30 1909_
Oct. 23 1909_ _
Oct. 31 1908_
Nov. 2 1907_ _
Total.
Bushels. Bushels. Bushels.
12,88(1,000 16,320,000 29,200,000
13,200,000 17,280,000 30,480,000
16,320,000 15,120,000 31,440,000
15,960,000 13,680,000 29,640,000
United
Kingdom. Continent.
Bushels.
5,610,000
6,120,000
5,270,000
7,840,000
Total.
Bushels. Bushels.
6,290,000 11,900,000
0,205,000 12,325,000
5,440,000 10,710,000
4,840,000 12,680,000
$111
1201
THE CHRONICLE
Nov. 6 19094
i
Statement of New York City Clearing-House Banks.—The
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction. detailed statement below shows the condition of the New
York Clearing-House banks for the week ending Oct. 30.
By Messrs. Adrian H. Muller & Son:
The figures for the separate banks are the averages of the
Stocks.
Stocks.
32 Phenix National Bank, N. Y_175
2 Ft. Wayne & Jackson RR.
daily results. In the case of the totals, the actual figures
4 Oswego & Syracuse RR. Co_230
145
Co. preferred
16 Consol. Gas, Elec. Light &
at the end of the week are also given.
87 Standard Gas Lt. Co., N. Y.,
Co. of Bait., pref_ - 813
Power
50
common
8 Consol. Gas, Elec. Light &
6 Standard Gas Lt. Co., N. Y.,
Power Co. of Bait., corn.. 34
803j
preferred
4 E. W. Bliss Co., common_.j35
100 Consol. Rubber Tire Co., com. 24
50
8 No. 15 East 48th Street
10 Central Safe Dep.Co. of N. Y.$6 lor
Royal Baking Pow. Co., pref..108%
60
Maritime
in
Memb.
of
Cert.
60 Union Typew. Co., 1st pref._112%
Ass'n of Port of N. Y_ _S7 lot
3 Phenix Insur. Co. of Bklyn 260%
2,160 Utah Southern Gold & Cop124
1 Celluloid Co
per Mining Co., $1 each _ _S2 lot
100 Connecticut Ry.& L. Co.,com 75%
4 Willfamsburgh Trust Co.(vot1 Germania Fire Insurance Co_266
90
ing trust certificate)
805% North Georgia Elec. Co_ _$25
1 N.Y. Life Ins. & Trust Co_ _1115
93 Nat. Bk. of N. Amer. of N.Y. 74%
Bonds.
160-165
Co
Trust
Carnegie
20
$5,000 Consol Rubber Tire Co. Ines 323
10 Farmers' Loan & Trust Co..1880
$17,500 Valley Stream Devel. Co.
65
30 City Investing Co., corn
65, 1913, M. & S., Sept. 1909,
100 United N. J. RR. de Canal Co.252%
19%
coupons on,together with 87 Val150 Second Avenue RR. Co
ley Stream Devel. Co. stock_ _$5,000
5 Storm King Stone Co.,coin.)$270
North Georgia Electric -Co.
$6,000
pref.
Co.,
Stone
King
5 Storm
$60
6s, Aug. 1907 coupon
4 Amer. Lt. & Trac. Co., pref _105%
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
Railroads (Steam).
30
Albany & Susquehanna (special)
3
Atch. Topeka & Santa Fe, common
2%
Atlantic Coast Line RR.. preferred
Cleveland & Pittsburgh, reg. guar.(quar.) 1%
1
Special guaranteed (quar.)
Cripple Creek Central, pref. (qu.)(No. 16) 1
2
Missouri Kansas & Texas, preferred
2%
Norfolk & Western, Common
3
Pennsylvania
2
Reading, second preferred
Rome Watertown & Ogden. guar.(quar.) 1%
Street & Electric Railways.
Connecticut Ry. & Ltg., COM. & pt.(qu.)
Dartmouth & Westport SI. Ry.(quar.)_ _ _
Halifav Elec. Tramway, Idd (quar.)_ _ _
Havana Electric Ry.,corn.(quar.)(No.4)
Preferred (quar.) (No. 15)
Lincoln Traction, pref. (guar.)
Pensacola Electric Co., preferred
Preferred (extra)
Tampa Electric Company (No. 20)
Twin City Rap.Tr., Minneap., corn.(qu.)
Union Street Ry., New Bedford (quar.)
Banks.
Copper, National (quar.).
When
Payable.
Dec.
Nov.
Dec.
Dee.
Dec.
Nov.
Dec.
Nov.
Nov.
Nov.
Nov.
Nov.
Jan.
Nov.
1
1% Nov.
1% Nov.
Dec.
3
31
Dec.
Nov.
3
1
Nov.
2
Nov.
2
2
Books Closed.
Days Inclusive.
Holders of rec. Nov. 15
1 Holders of rec. Nov. 5
Nov. 9
10 Nov 1 to
1 Holders of rec. Nov. 10
1 Holders of rec. Nov. 10
1 Holders of rec. Nov. 20
Nov. 9
10 Oct. 21 to
17 Holders of rec. Nov. 30
30 Holders of rec. Nov. 5
10 Holders of rec. Oct. 23
to Dee.
15 Oct. 31
15 Nov. 1 to Nov. 15
1 Holders of rec. Oct. 20
13 Oct. 25 to Ncv. 13
13 Oct. 25 to Nov. 13
1
1 Holders of rec. Nov. 15
1 Holders of rec. Nov. 15
15 Holders of rec. Nov. 6
15 Holders of rec. Oct. 20
1 Holders of rec. Oct. 20
Nov. 15 Nov. 11
Miscellaneous.
% Nov.
Amalgamated Copper(quar.)
Nov.
American Chicle, common (monthly).... 1
Nov.
1
Common (extra)
Dec.
5
American Colton Oil, common
Dec.
3
Preferred
Nov.
1
Amer. Dist. Teleg. of N. Y.(quar.)
230 Nov.
Amer. Light & Traction, com.(extra)._
13. Dec.
American Radiator, common (guar.)
1% Nov.
Preferred (q*ar.)
1% Dec.
American Smelters Sec., pref. A (quar.)_
1% Dec.
Preferred ii (guar.)(No. 18)
1% Dec.
Amer. Teleg. & Cable, guar. (guar.).
2% Dec.
American Tobacco, common (quar.)
7% Dec.
Extra
Nov.
3
Bond & Mortgage Guarantee (quar.)_
British Columbia Packers Assn.. pref. _ - 10% Nov.
25c. Dec.
Butte Coalition Mining (quar.)
13 Jan.
Canton Company
50c. Jan.
Extra
Nov.
Casein Company, pref. (quar.)(No. 38)-- 2
Dec.
Consolidated Gas of New York (guar.). 1
Dec.
2
Crex Carpet
Dec.
Extra
Dec.
2
Diamond Match (guar.)
2% Jan.
Eastman Kodak, corn. (quar.)
2% Dec.
Common (extra)
13. Jan.
Preferred (guar.)
Electric Properties, pref. (quar.)(No. 12) 1% Nov.
Dec.
1
General Chemical, common (guar.)
150e
Nov.
General Motors, common
254 Nov.
Gorham Manufacturing, corn.(quar.)_ _
Internat. Harvester, pref. (qu.)(No. 11) 14 Dec.
1
Dec.
International Nickel, common (quar.)_
% Dec.
Common (extra)
4
Nov.
Internat. Smokeless Pow. & Chem., pref
Nov
5
Iron Steamboat of N. J (No. 1)
154 Dee.
Lanston Monotype Machine (quar.)
Nov.
Lehigh Coal & Navigation (No. 124)..... 4
1
Nov.
Extra
1
Dec.
Massachusetts Gas Cos., common
Dec.
2
Preferred
154 Dec.
Michigan State Telephone, corn. (quar.)_
IA Feb.
Preferred (quar.)
Montreal Light, Ht. & Pow.(611.)(No.34) 1% Nov.
1% Nov.
National Carbon, pref. (guar.)
15
% Dec.
National Lead, pref. (quar.)(No. 72)_
Nevada Consol. Copper (quar.)(No. 1).. 3754e. Dec.
154 Dec.
Niles-Bement-Pond, common (guar.)
154 Nov.
Preferred (guar.)
Pacific Gas de Rim, pref. (guar.)
154 Nov.
People's Gas Light & Coke (quar.)
15 Nov.
154 Nov.
Pratt & Whitney, pref. (guar.)
Pressed Steel Car, pref. (quar.)(No. 43k. 1% Nov.
3
Nov.
Procter& Gamble, corn. (guar.)
2
Nov.
Pullman Company (quar.)(No. 171)_
154 Nov.
Sears, Roebuck & Co.,corn.(quar.)
Nov.
1
Silversmiths Company (quar.)
Nov.
United Bank Note Corp.,common (quar.) 1
10
Nov.
United Fruit (extra)
24 Nov.
United States Envelope, pref. (special)
Nov.
3
United States Express(No. 152)
Dec.
U. S. Steel Corp., corn. (quar.)(No. 24). 1
1% Nov.
Preferred (quar.) (No. 34)
1% Nov.
U. S. Telephone, pref. (guar.)
3
Nov.
Warwick Iron & Steel
Nov. 14
29 Holders of rec. Oct. 28
20 Nov. 16 to Nov. 20
20 Nov. 16 to. Nov. 20
1 Nov. 12 to Dec. 2
1 Nov. 12 to Dec. 2
15 Holders of rec. Nov. 10
15 Oct. 21 to Oct. 31
31 Dec. 26 to Dec. 30
16 Nov. 9 to Nov. 16
1 Nov. 23 to Nov. 30
1 Nov. 23 to Nov. 30
1 Holders of rec. Nov. 30
1 Holders of rec. Nov. 15
1 Holders of rec. Nov. 15
15 Holders of rec. Nov. 6
20 Nov. 10 to Nov. 20
1 Nov. 16 to Dec. 1
1 Dec. 21 to Jan. 2
1 Dec. 21 to Jan. 2
10 Oct. 31 to Nov. 9
15 Holders of rec. Nov. 17
15 Holders of rec. Nov. 30
15 Holders of rec. Nov. 30
15 Holders of rec. Nov. 30
1 Holders of rec. Nov. 30
1 Holders of rec. Oct. 30
1 Holders of rec. Nov. 30
10 Nov. 2 to Nov. 10
1 Holders of rec. Nov. 18
15 Nov. 5 to Nov. 14
10 Holders of rec. Nov. 8
1 Holders of rec. Nov. 11
1 Nov. 12 to Dec. 1
1 Nov. 12 to Dec. 1
15 Holders of rec. Nov. 5
15 Holders of rec. Nov. 13
30 Dec. 17 to Dec. 30
27 Holders of rec. Oct. 30
27 Holders of rec. Oct. 30
1 Holders of rec. Nov. 13
1 Nov. 11 to Nov. 30
1 Nov. 19 to Dec. 15
1 Jan. 19 to Feb. 1
15 Holders of rec. Oct. 30
15 Holders of rec. Nov. 4
15 Nov. 20 to Nov. 23
31 Dec. 2 to Jan. 2
20 Dec. 12 to Dec. 20
15 Nov. 7 to Nov. 15
15 Holders of rec. Nov. la
26 Holders of rec. Nov. 4
15 Nov. 7 to Nov. 15
24 Nov. 4 to Nov. 23
15 Holders of rec. Oct.30a
15 Holders of rec. Oct. 30
15 Holders of rec. Nov. 1
15 Holders of rec. Nov. 10
15 Nov. 2 to Nov. 15
15 Holders of rec. Oct. 29
10 Oct. 24 to Nov. 10
15 Nov. 1 to Nov. 15
30 Dec. 11 to Dec. 30
30 Nov. 6 to Nov. 30
15 Oct. 31
b Payable in common stock.
a Transfer books not closed.
accumulated dividends. e Payable in common stock.
to
to
Nov. 15
ft On account of
We omit two ciphers (00) in all cases.
Capital. Surplus.
Banks.
00s omitted.
Bank of N Y.
Manhattan Co
Merchants' _
Mechanics' - _ -.
America
Phenix
City
Chemical
Merchants' Ex
Gallatin
Butch. & Drov.
_
Greenwich
American Exch.
Commerce
Mercantile
Pacific
Chatham
People's
Hanover
Citizens' Cent.
Nassau
Market dr Fult'n
Metropolitan
Corn Exchange_
Imp.t& Traders'
Park
East5River_
Fourth
Second
First
Irving Exch._ _
Bowery
N Y. County..
German-Amer._
Chase
Fifth Avenue_
German Exch.
Germania
Lincoln
Garfield
Fifth
Metropolis
WestVide
Seaboard
Liberty
N. Y. Prod. Ex.
State
14th Street..--Copper
Coal & Iron_
2,000,0
2,050,0
2,000,0
3.000,0
1,500,0
1,000,0
25,000,0
3,000,0
600,0
1,000,0
300,0
500.0
5,000,0
25,000,0
3,000,0
500,0
450,0
200,0
3,000,0
2,550,0
500,0
1,000,0
2,000,0
3.000,0
1,500,0
3,000,0
250,0
3,000,0
1,000,0
10,000,0
2,000,0
250,0
500,0
750,0
5,000,0
100,0
200,0
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
2,000,0
1,000,0
Loans.
Average.
Deposits.
Specie.
Average. Average. Average. s'oe.
$
3,374,4 19,326,0 3,188,0 1,277,0 17,082,0 26.1
4,088,4 30,550,0 8,832,0 1,828,0 :36,400.0 29.2
1,642,1 18,880,0 3,570,0 1,331,0 19,091,0 25.6
3,767,3 27,782,0 6,267,0 1,466,0 28,848,0 26.8
5,674,1 23,900,0 4.261,7 1,894,0 24.312,6 25.3
632,0
9,433.0 28.5
9,383,0 2,014,0
657,9
29,046,9 181,406,2 41,346,6 5,825,0 174,740,6 27.0
6,059,1 28,185,7 4,969,3 2,126,9 26,780.8 26.6
7,000,2 24.8
130,9
532,0
6,793,3 1,609,8
6,457,1 25.4
626,2
2,468,4
8,791,6 1,015,0
2,199,9 23.6
116,4
404,8
148,0
2,247,1
8,195,3 25.0
200,0
7,365,4 1,851.3
779,7
5,220,0 30,317,5 4.127,2 1,745,4 23,293,7 25.3
15,594,5 143,148,0 21,943,9 8,671,5 119,451,4 25.7
9,891,1 25.3
798,4
2,564,5 13,597.3 1,705,3
3,586,5 22.2
271,4
525,6
898,9
4,067,0
7,505,2 25.4
784,0 1,125,3
1,025,0
7,062,2
2,493.0 26.7
531,6
135,3
475,4
2,422,9
10,922,2 60,050,1 11,551,2 7,609,0 69,571,9 27.6
267,8 22,237,4 26.0
1,508,6 22,302,9 5,475,7
6,833,0 26.2
964,9
825,9
6,085,0
465,8
8,024,1 27.8
912,8
1,671,5
8,191,6 1,322,1
236,8 12,603,6 26.7
1,395,2 12,156,9 3,137,5
5,310,9 41,435,0 7,091,0 5,629,0 43,947,0 25.9
7,415,9 25,621,0 3,878,0 2,034,0 23,188,0 25.4
9,750,2 84,055,0 22,464,0 1.283,0 94,377,0 25.1
112,4
1,514,3 30.7
352,8
1,457,7
103,7
3,324,7 21,907,0 3,812,0 2,133,0 23,528,0 25.2
506,0 12,941,0 25.5
1,845,4 12,777,0 2,803,0
93,824,0 26.7
19,023.9 103,176,0 23,642,3 1,424,1
1,441,4 20,680,5 3.784,5 1,791,8 21,756,7 25.6
61,0
3.570,0 24.7
823,0
3,516,0
811,7
8,203,4 23.4
629,2
8,201,1 1,258,5
1,598,3
3,959,1 25.0
238,6
749,6
4,154,2
649,7
6,685,1 73,058,6 15,881,2 4,550,4 79,130,5 25.8
2,055,5 13,370,1 2,736,5 1,116,8 15,157.7 25.4
3,718,8 25.3
445,1
3,600,0
495,6
886,1
5,862,7 26.3
572,6
971,0
1,040,4
5,163,1
922,4 17,619,2 25.0
1,373,8 16,265.2 3,493,0
7,755,9 25.0
272,0
1,148,8
7,700,1 1,663,2
3,832,9 25.2
332,8
3,572,0
636,3
474,4
11,466,0 25.0
2.006,9 11,518,3 1.377,2 1,497,1
5,085,0 23.9
243,0
976,0
4,613,0
1,130,0
1,765,3 18,683,0 3,884.0 2,018.0 21,772,0 27.1
900,1 16,023,0 25.4
2,615,2 16,637,4 3,171,0
7,625,4 2,042,5
9.108,7 25.4
738,7
277,2
277,0 16,485,0 25.4
825,4 13,423,0 3,926,0
601,4
5,920,5 24.2
5,534,2
835,3
331.0
330,7 28,018,5 25.3
2,734,3 26,747,3 6,761,7
409,0
5,462,0
5,218,0 23.9
842,0
305,2
Totals, average 127,350,0 177,371,8 1233,964,9 251,359,5 71,053,9 1234,014,3 26.1
Actual:figures
Oct. 30
1237,177,4 243,678,1 71.077,7 1234,624,8 25.9
On the basis of averages, circulation amounted to $53,166,300 and United States
deposits (included in deposits) to $1,673,400; actual figures October 30,circulation.
$53,289,800: United States deposits, $1,678.500.
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:
STATE BANKS AND TRUST COMPANIES.
Week ended Oct. 30.
Capital as of Sept. 14_ _ _ _
Surplus as of Sept. 14____
Loans and investments__
Change from last week..
Trust Cos.
State Banks
Trust Cos.
Stale Banks
in
outside of
outside of
in
Greater N. Y. Greater N. Y. Greater N. F. Greater N. Y.
$
26,075,000
$
61,425,000
$
*8,598,000
$
*7.725,000
38,495,200
163,268,300
*10,316,230
296,052,700 1,109,907,800
—220,500 —3,622,900
83,698,700
+654,900
*9,786,676
II
133,827,300
+842,600
Specie
Change from last week.
48,370,400
+465,600
120,320,500
1,283,700
Legal-tenders dr bk. notes
Change from last week_
25,665,300
—24,600
13,630,100
+101,300
Deposits
Change from last week_
342,024,100 1,168,805,600
+2,185,600 —4,442,900
93,181,300
—186,800
Reserve on deposits
Change from last week_
92,745,800
+1,308,300
139,758,000
—1,534,500
18,909,100
—601,000
140,246,400
—356,000
r tall
otas,
17,896,300
—596.400
P. C. reserve to deposits_
Percentage last week
27.6%
27.4%
15.9%
16.0%
20.9%
21.6%
13.3%
13.7%
+ Increase over last week. — Decrease from last week.
As of April 28.
Note.—"Surplus" Includes all undivided profits. "Reserve on deposits" In
eludes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents. Trust companies in New York State are required by
law to keep a reserve proportionate to their deposits, the ratio varying according
to location as shown below. The percentage of reserve required Is computed on
the aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, represented by certificates, and also exclusive of deposits secured by bonds of the State
of New York. The State banks are likewise required to keep a reserve varying
according to location, but in this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
—State Banks—
—Trust Cos.—
Total
Of
Total
Of
Reserve Required for Trust Companies
Reserve
which
which Reserve
and State Banks.
Required. in Cash.Required. in Cash
Location—
15%
25%
15%
15%
Manhattan Borough
10%
20%
10%
Brooklyn Borough(without branches in Manhat.)_15%
15%
10%
754%
Other Boroughs(without branches in Manhattan).15%
15%
25%
15%
15%
Manhattan
with
in
Borough
branches
Any
6%
15%
5%
10%
Elsewhere in State
-I- Increase over last week. — Decrease from last week.
1202
[voL. Lxxxix
THE CHRONICLE
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements,thus affording an aggregate for the whole of the banks and trust companies in the
Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Ve omit two ciphers (00) in all these figures.
Banks.
Boston.
Oct. 9..
Oct. 16__
Oct. 23....
Oct. 30__
Plum.
Oct. 9.._
Oct. 16.._
Oct. 23.._
Oct. 30_ _
Capital
and
Surplus.
Loans.
40,300,0
40,300,0
40,300,0
40,300,0
215,782,0
218,923,0
213,357,0
208,859,0
56.315,0
56,315,0
56,315,0
56,315,0
274,955,0
271,311,0
266,875,0
262,877,0
Specie.
Clearings.
Legals. Deposits. a
lotion.
24,680,0
24.583,0
24,276,0
23,878,0
4,274,0
4,709,0
4,886,0
4,716,0
73,087,0
73,274,0
70,791,0
67,433,0
$
269,222,0
273,934,0
266,800,0
258,794,0
7,032,0
7,064,0
7,047,0
7,059,0
177,033,1
178,720,0
177,253,1
169,542,1
322,016,0
320,662,0
313,779,0
306,425,0
16,800,0
16,835,0
16,843,0
16.814,0
154,064,6
143,127,8
155,369,5
141,966,8
Clear.-House Clear.-House State Banks d; Total of all '
Trust Cos. not Banks& Trust
Banks.
Banks.
a Including Government deposits and the item "due to other banks." At Boston
Average. in C.-H. Aver. Cos. Average
ActualFigures
Government deposits amounted to $2,514,000 on Oct. 30, against $2,513,000 on
Oct. 23.
Week ended Oct. 30.
Nat. &mica)
Sept. 1_ _ _
State Banks
Surplus J Sept. 14_ _ J
Capital
127.350,000
127.350,000
71,550,000
198,900.000
177,371,800
177.371.800
172,199.700
349,571,500
Loans and investments 1,237,177,400 1,233,964,900 1,205,482,600 2,439,447,500
-731,800
-4,840,700 -5,572,500
Change from last week +1,778.200
1,234,624,800 1,234,014,300 a1,167,857,600 2,401,871,900
Deposits
Change from last week -5,400,600 -6,402,800
-6,943,200 -13,346,000
Specie
Change from last week
248,678,100
-5,570,000
251,359,500
-4,325,600
126,994,600
-1,472,100
378,354,100
-5,797,700
Legal-tenders
Change from last week
71,077,700
-1,287,900
71,053,900
-9,100
822,518,300
-113,600
93,572,200
-122,700
Aggr'te money holdings
Change from last weeh
310,755,800
-6,857,900
322,413.400
-4,334,700
c149,512,900
-1,585,700
471,926,300
-5,920,400
Money on deposit with
other blcs. & trust cos.
Change from last week
Total reserve
Change from last week
319,755,800
-6,857,900
322,413,400
-4,334,700
Percentage to deposits
requiring reserve _ _ _
Percentage last week _ _
Surplus reserve
25.93%
26.37%
26.15%
26.37%
13,909.825
22,574,100
+580,500
22,574,100
+580,500
172,087,000
-1,005,200
494,500,400
-5,339,900
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Oct. 30; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For Week.
Dry Goods
General Merchandise
Total
Since January 1.
Dry Goods
General Merchandise
1909.
1908.
1907.
1906.
$3,239,516
16,822,661
82,812,145
10,883,915
$3,195,714
11,385,972
$3,245,010
11,625,471
$20,062,177 $13,696,060 814,581,686 $14,870,481
8139.414,588 $101,899,904 8155,724,942 $133,577,641
577,811,723 417,887,438 564,338,042 497,114,379
$717,226,311 8519,787,342 8720,062,984 $630,692,020
Total 43-weeks
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 30 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1909.
11,009,600
17.3%
17.3%
For the week
Previously reported
1908.
I
1906.
1907.
$16,039,359 $8,495,520 S12,653,728 $15,166,419
492,886,838 517,614,116 520,269,343 491,039,838
MV,
$508,926,197 $526.109,636 8532,923,071 $506,206,257
Total 43 weeks
-I- Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City:" with this item Included,
deposits amounted to $1,280,197,400, a decrease of $3,516,900 from last week. In
the case of the Clearing-House banks, the deposits are "net" both for the average
and the actual figures. b Includes bank notes. c Of this amount State banks held
$15,562,300 and trust companies $133,950,600.
The averages of the New York Clearing-House banks
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers (00) in all these figures
Week
Ended.
Sept. 4_ _
Sept. 11__
Sept. 18_ _
Sept. 25....
Oct. 2_
Oct. 9..._
Oct. 16.._
Oct. 23...
Oct. 30._
Loans and
Investments.
2,573,391,2
2,568,181,7
2,552,792,
2,543.778,
2,548,179,
2,519,375,9
2,464,578,2
2,445,020,0
2,439,447,5
Specie.
Deposits.
2.600,054,5
2.578,878,7
2,565.384,6
2,545.711,1
2,541,198,2
2,494,502,9
2,433,415,2
2,415,217,9
2,401,871,9
8
420,244,8
410,884,4
405,927,4
405,999,3
398,308,5
386,769,7
380.588,6
384,151,8
378.354,1
T0L Money Entire Res.
Holdings. on Deposits
Lcgcds.
98,538,2
95,234,0
95,001,1
94,153,5
92,258,2
91,625,6
93,689,4
93,694,9
93,572,2
518,783,0
506,118,5
500,928,5
500,152,8
490,566.7
478,395,3
474,278.0
477,846,7
471,926,3
546,731,7
535,304,8
528,412,4
525,896,1
514.587.8
502,420,3
497.581,3
499,840,3
494,500,4
Reports of Non-Member Banks.-The following is the
statement of condition of the non-member banks for the
week ending Oct. 30, based on average daily results:
We omit two ciphers (00) in ail these figures.
Banks.
Capitat.
Surplus.
N. Y. City.
Boroughs of
Man.ct:Brx.
$
100,0
243,1
Wash.Hgts_
200,0
154,4
Century _ _ _
400,0
283,5
Colonial _ _
300,
Columbia _ _
452,9
200,0
164,3
Fidelity _ _ _
657,7
500,0
Jefferson... _
250,0
283.8
Mt. Morris_
322,3
Mutual _ -- 200,0
100,0
410,6
Plaza
200,
95,4
23rd Ward_
934,4
Union Ex N 1,000,
456,0
100,0
Yorkville _
258,4
200.0
New Neth'd
146,5
Batt Pk.Nat 200,0
316,8
300,0
Aetna Nat_
Borough of
Brooklyn.
200,0
531,3
Broadway _
252,0
Mfrs.' Nat _
787,6
927,7
Mechanics' 1,000,0
949,1
Nassau Nat. 750,0
Nat. City_ _
300,
593,8
North Side_
200,
139,7
Jersey City.
400,0 1,222,1
First Nat.._
250,0
H ud.Co.Nat
725,8
Third Nat_ _
200,0
380,2
Hoboken.
220,0
First Nat.. _
626,5
232,.
Second Nat. 125,
Loans,
Disets
and
Investments.
Specie.
Legal
Tender
and
Bank
Notes.
$
$
3
1,328,0 131,0
62,0
1,607,5
25,4 229,4
5,243,3 833,9 453,7
5,998,0 613,0 582.0
67.6
993,7
87,9
3,721,7
14,2 545,4
2,634,5 488,5
27,4
20,6 649,2
3,854,0
3,942,0 319,0 391,0
61,9
2.052,2 188,7
8,118,0 1,009,0 1,000,0
4,016,9
47,7 766,0
71,0
2,151,0, 212,0
34,1
1,138,7 233,6
31,9
2,016,9 423,8
Deposit withClearlug,
Agent.
Other
Net
Banks, Deposits
&c.
$
142,0
66,3
593,3
641,0
95.7
165,6
325,8
322,3
563,0
343,9
221,2
258,4
468,0
50,4
93,6
$
_ _
150,0
206,2
____
.._ _
196:4
75,9
5,2
___
____
_-_ _
251,8
15,0
_- _
22:4
$
1,330,0
1,783,3
6,712,5
7,226,0
1,001.0
3,780,9
3,343,8
4,239,9
4,678,0
2,458,1
8,013,6
5,206,3
2,461,0
1,100,3
1,875,0
28,2 415,1
463,6 162,1
213,9 1.248,8
431,0 492,0
116,0 614,0
90,2
136,7
283,4
896,5
1,253,4
830,0
471,0
174,9
167,6
112,7
259,1
__ _
148:0
139,0
3,877,9
6,473,8
13,726,2
6,708,0
5,208,0
2,264,7
4,662,1
2,867,5
2,002,1
303,4
130,6
51,8
388,7
40,3
119,3
5,264,5
189,0
393,3
566,0 9,388,9
135,1 2,482,5
15,9 2,263,6
2,506,5
2,438,1
108,6
81,8
11,3
91,2
108,4
121,3
3,375,2
5,948,1
10,959,6
6,760,0
4.309,0
1,979,8
80,5
271,3
2,015,4
2,782,7
Tot. Oct. 30 8,147, 12,296,4 96,626,1 6,713,9 8,645,6 14,336,2 2,818,1 112381,4
Tot. Oct. 23 8,147, 12,296.4 97,276,3 6.937,6 8,670.7 10,820,7 2,832,9 110322.1
Tot. Oct. 16 8,147.0 12,296,4 98,338,8 6.849,9 8.993,0 10,872,7 2,894,4 111867,3
Boston and Philadelphia Banks.-Below is a summary of
the weekly totals of the Clearing-House banks of Boston
and Philadelphia.
The following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 30
and since Jan. 1 1909, and for the corresponding periods in
1908 and 1907:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Imports.
Exports.
Gold.
Week.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Week.
Since Jan.1
Since Jan.1
$13,958,120
13,881,232
818,780
56,595
28,675
3,687
$100,000 2,171,195
5,000
1,540,000 44,018,45(1
4,030,695
$1,640,000 $78,964,692
50,000 47,097,925
610,000 36,756,972
Total 1909
Total 1908
Total 1907
Silver.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
8107,737 $7,507,327
70,409 15,091,297
130,378 8,750,535
8489,864 833,780.944
50,200 3,465,450
11.090
108,966
$2,200
14,429
218,663
915
8
44,226
30,712
$540,064 $37,441,388
912,820 35,680,971
871,120 42,485,109
Total 1909
Total 1908
Total 1907
8203,889
2,167,346
10,523
707,608
519,975
2,108,843
1,789,143
$219,485
8,889
68,856
124,364
2,055,291
807,377
951,337
$236,215 $4,235,599
73,597 3,219,705
49,199 2,949,007
Of the above imports for the week in 1909, $18,780
were American gold coin and $14,250American silver coin.
Of the exports during the same time, $1,640,000 were American gold coin and $ __ were American silver coin.
Aaithing and financial.
INVESTMENT SECURITIES
Our eight-page circular No. 687 describes several issues of sound
investment bonds yielding about 4% to 5 %•
Spencer Trask & Co.
NEW YORK
WILLIAM AND PINE STS., - Branch offices: Chicago, ILL., Boston, Mass., Albany, N. V.
MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
5 NASSAU STREET.
NEW YORK
THE ROOKERY
CHICAGO
BANKING and EXCHANGE of every description in connection with
EXPORTS & IMPORTS
International Banking Corporation
60 Wall St., New York.
CAPITAL & SURPLUS, $6,500,000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
Organized under the Laws of N. Y. State.
60 Wall St., New York
Accounts invited. Interest paid on Term Deposits.
THOMAS H. HUBBARD, President.
THE CHRONICLE
Nov. 6 1909.1
Vaulters' Oztattit.
Wall Street, Friday Night, Nov. 5 1909.
The Money Market and Financial Situation.-Evidently
the election had a distracting influence in Wall Street, as the
daily transactions at the Stock Exchange during the early
part of the week were more limi ted in volume than for several months past, and the markets we re generally featureless.
Of late, and especially within a few days, there has developed a good deal of interest in the industri al situation, and
the inquiry for shares issued by the various large industrial
corporations has increased enormously. As an illustration,
we note that on Thursday nearly 300,000 shares of United
States Steel common was traded in at advancing prices, and
throughout the week American Locomotive, American Car
& Foundry and some of the minor equipment stocks have
continued, as noted last week, conspicuous for activity and
strength. All this is logical enough in view of the fact that
the output of the Steel Corporation during the month of
October was the largest in the history of the company, and
also the largest in the history of the industry in this country.
Saturday's bank statement showed a slight reduction of
the surplus reserve, but the money market is well supplied
with funds and rates have shown a tendency to weakness.
The financial situation abroad is practically unchanged.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 3 to 5%. To-day's rates on call were 3 @4%.
Commercial paper quoted at 4%@5j(% for 60 to 90 day
endorsements, 5®532% - for prime 4 to 6 months' single
names and 53'®6% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £175,104 and the percentage
of reserve to liabilities was 45.42, against 45.80 last week.
The rate of discount remains unchanged at 5% as fixed
Oct. 31. The Bank of France Aims a decrease of 19,525,000
francs gold and 5,225,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
Averages for
week ending
Oct. 30.
Differences
from
previous week.
1908.
Averages for
week ending
Oct. 31.
1907.
Averages for
week ending
Nov. 2.
$
s
$
$
127,350,000
126,350,000 129,100,000
Capital
177,371,800
163,720,100 163,396,900
Surplus
731,800 1,333,365,600 1,148,452,600
Loans and discounts___ 1,233,964,900 Dec.
53,166,300 Inc.
552,300
52,983,500
51,742,700
Circulation
1,234,014,300 Dec. 6,402,800 1,411,416,300 1,051,786,900
Net deposits
4,200
9,253,000
1,673,400 Inc.
U. S. dep. (incl. above)
251,359,500 Dec. 4,325,600 305,162,400 175,913,900
Specie
48,194,000
71,053,900 Dec.
9,100
81,280,800
Legal tenders
Reserve held
25% of deposits
Surplus reserve
Surplus excl. U.S. dep.
322,413,400 Dec. 4,334,700
308,503,575 Dec. 1,600,700
386,443,200
352,854,075
224,107,900
262,946,725
13,909,825 Dec. 2,734,000
33,589,125 df.38,838,825
14,328,175 Dec. 2,732,950
35,902,375
Foreign Exchange.-Discounts at all foreign centres were
firm during the week, with quotably higher rates to-day;
yet sterling drooped here late in the week.
To-day's (Friday's) nominal rates for sterling exchange
Were 4 84 for sixty day and 4 88 for sight. To-day's actual
rates for sterling exchange were 4 8310©4 8325 for sixty
days, 4 8710@4 8715 for cheques and 4 8760@4 8770 for
cables. Commercial on banks 4 8270@4 8285 and documents for payment 4 82@4 839'. Cotton for payment
%.
4 82©4 823( and grain for payment 4 83®4 833
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 20a@5 20 for long and 5 173-d®5 17M for short.
Germany bankers' marks were 94% ®94% for long and
95 3-16a@95 3-16 for short. Amsterdam bankers' guilders
were 40 10@40 12 for short. ,
Exchange at Paris on London, 25f. 22c.; week's range,
25f. 22c. high and 25f. 21c. low.
The range of foreign exchange for the week follows:
--60 daysSterling Actucu4 8334
High
0 4 8354
483
0 4 8334
Low
Paris Actual5 20d
0 5 20
High.._
Low ------5005
44 520a
Germany Actual0 9434
High
9454
Ea 9454
Low ------9434
rdam ActualAnitt,
39 03 0 39 95
High
39 87 44 39 90
Low
Cheques
- -Cables
14 8730
14 87
0 4 8740
0 4 8710
14 8780
14 R750
0 4 8790
(4 48780
15 16%h
15 1734d
0 5 1654a
0 5 17%
IS 1650
15 1654d
44 5 16ha
44 5i63
1
1
95345 0 Oh
1
95 3-1650 95 3-16 1
95 5-16 (a) 95%d
9554
44 95 5-165
1
1
40 14
40 10
40 1R
40 15
0 40 16
44 40 12
1
1
0 40 20
44 40 17
Less: a 1-16 of 1% 51-32 of 1%. 53-32 of 1%.
y3-32 of 1%.
Plus: t 1-16 01 1%. x 1-32 of I%
The following were the rates for domestic exchange at the
undermentioned cities at the close of the week: Boston,
10(0)12%c. per $1,000 discount. St. Louis, 20c. per $1,000
discount. Chicago, 10c. per $1,000 discount. New Orleans, commercial, $1 per $1,000 discount; bank, $1 per
$1,000 premium. San Francisco, 40c. per $1,000 premium.
Savannah, buying, $1 50 per $1,000 discount; selling, par.
Montreal, 31%c. per $1,000 discount.
1203
State and Railroad Bonds.-Sales of State bonds at the.
Board are limited to $152,000 Virginia 6s deferred trust
receipts at 48 to 5732.
. There is not much demand for railway bonds from strictly
investment sources, and the operations this week at the
Stock Exchange have been restricted chiefly to issues of a
more or less speculative character, including some refunding
and convertible bonds. Among the latter, Atchison and
Pennsylvania have been prominent, and the last named has
declined about 2 points. Northern Pacific 3s are down a
point, although a large portion of the active list is fractionally
higher than last week.
United States Bonds.-Government bonds have been
more active. Sales at the Board include $5,500 2s, reg.,
1930, at 1003
%; $4,000 3s, coup., 1908-18, at 101%; $9,000
3s, reg.,1908-18, at 101%; $5,000 4s, coup., 1925, at 117%,
and $35,000 4s, reg., 1925, at 116. The following are the
daily closing quotations; for yearly range see third page
following.
Interest
Periods
Oct
30
Nov.
1
2s, 1930
registered Q-Jan 10034 .10154
2s, 1930
coupon Q-Jan .111034 .10134
3s, 1908-18
registered Q-Feb .10134 .1013.4
Ss, 1908-18
coupon Q-Feb .10134 .10134
3s, 1908-18_ _ _ _small coupon Q-Feb
45, 1925
registered Q-Feb .116
116
is, 1925
coupon Q-Feb 11734 .11634
2s, 1936..Panama Canal regis Q-Feb .9954 .
9954
2s, 1938 Panama Canal regis Q-Nov •100 .100
Nov.
2
H
0
L
I
I)
A
Y
Nov.
3
Nov.
4
Nov.
5
100h .100 .100
10034 .100 .100
'10134 *10134 *10134
10134 10134 *10134
116 .116 *115%
116% .116%.116%
.9954 *99% *99%
100
•9934 .9954
•This Is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-The stock market
was dull, as noted above, during the early part of the week,
but the transactions in this department have largely increased. This fact is due chiefly to a larger interest in manufacturing stocks, which were stimulated by the enormous
transactions in United States Steel. The railway list, as a
consequence, has been neglected,and about half the active
shares in this group have declined; while all the industrials
traded in are higher.
Railway equipment shares have been favorites, resulting
in an advance of from 33. to 5 points in American Locomotive, Am.Car & Foundry and N.Y. Air Brake. Consolidated Gas is 5 points higher, and Bethlehem Steel, Colorado Fuel & Iron, Central Leather and Pittsburgh Coal have
been strong features.
Of the railway list Baltimore & Ohio, Chesapeake & Ohio,
Missouri Pacific and Union Pacific have advanced a point or
less. On the other hand, New York Central, Pennsylvania,
Louisville & Nashville, Erie and Canadian Pacific are lower.
For daily volume of business see page 1211.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
- - STOCKS.
Week ending Nov. 5.
Sales
for
Week.
Range for Week.
56249
Chic Burl & Quincy
300 110
Colorado Fuel & I.. pret_
Homestake Mining
306 88
Horn Silver
100 70c.
Keokuk & Des Moines120 734
N.Y. N. H.& H.rights_ 24,956 5%
27 79
New York Dock, pre_ _ _
200 9834
PacilleTeleph. &T.. pref
Pennsylvania,rights_ - _ _ 43,151 834
RR.securities-Ills.Cent
20 90
stock trust certificates
600 16
St Joseph & Grand Isl
300 53
First preferred
122 31
Second preferred
Range since Jan. 1.
Highest.
Lowest.
Lowest.
Highest.
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
5249
1 112
5 8634
1 70c.
4 734
5 634
4 79
5 9954
5 8%
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
Nov
5 200
4 67
4 86
1 70c.
4 5
4 5A
4 75
1 98
4 834
tipr250
Mch 112
Nov 9434
Feb 1.60
Mch 10
Nov 634
Jan 8234
Oct 100
Nov 8%
Nov
Nov
Nov
Nov
4
5
5
5
Nov
Nov
Nov
Nov
4
5
5
5
Jan
May
Mch
Mch
90
1854
56
31
8834
15
4934
29
May
Nov
Apr
Apr
Aug
Nov
Aug
Oct
Nov
9334 May
20
Jan
56
Nov
31
Nov
Outside Market.-Interest in the copper stocks predominated on the "curb" this week and the market for
these shares was strong and active. Elsewhere trading, with
few exceptions, was comparatively quiet. Boston Consolidated rose from 14% to 15 and closed to-day at 14%.
Butte Coalition gained over 2 points to 303/i and finished
to-day at 30. Cumberland-Ely from 73-i reached 8%, the
final transaction to-day being at Wt. Greene Cananea ran
up from 113' to 12%, with the close 12%. Miami, after
weakening slightly from 10i. to 16, advanced to 173..
Nevada Consolidated from 24% touched 273.g. Weakness
developed in United Copper common, which fell sharply
from 9% to 7%, with a recovery, however, to 8%. An important development of the week was the heavy liquidation
in La Rose Consolidated, which carried the price down from
4, the final transaction for the week being at
6% to 43
4 15-16. The break was due to statements that the dividend
would be reduced, the reduction being explained as needed
to provide funds for development work. Goldfield Consolidated advanced from 7% to 7 5-16, declined to 6% and
closed to-day at 6 15-16. Nipissing rose from 11% to 1134
and receded to 10 8. In industrials American Tobacco sold
up from 445 to 449 and back to 445%. Sears, Roebuck &
Co. common lost about 3 points to 140. Standard Oil
opened the week at 702 and closed to-day at 703, being
traded in down to 70134. There were heavy dealings in
Pennsylvania and New York New Haven & Hartford
"rights," the former going down from 93(% to 7%, and up
4.
4%; the latter from 6% up to 6% and back to 63
to 83
Transactions in both were transferred to the Stock Exchange.
New York Telephone 434s,"w.i.," sold up from 96% to 973.
Outside quotations will be found on page 1211.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWI) PAGEs
STOCKS-HIGHEST AND LOWEST SALE PRICES.
Saturday
Oct. 30.
Monday
Nov. 1.
12278 12338 12338 12458
10412 10412 10434 105
13712 138
*137 133
11534 11578 11534 11614
*91
93
93
93
7534 7614 7534 7618
18414 18434 18412 188
*6758 6812 *6758 6812
*290 300 *290 300
8712 8814 8814. 8914
69
69
*68
69
70
70
*____ 70
1918 1912 1914 1912
*6012 66
*6012 65
3514
*31
32
32
*2414 2514
24
24
15734 15838 15712 158
*174 175 *174 175
18912 18912 *187 190
*216 225 *210 225
*155 165 *155 165
*165 175 *165 175
414 414
*334 5
*1212 14
*1112 14
*7834 7912 7812 7812
*100 110 *100 110
5312 54
53
*52
7912 7912
*7812 79
7812
*7734 7814 *78
186 188
18418 185
*550 570 *550 570
481.2 4818 4833 4919
85
*8312 8512 85
70
*66
*65
70
*13
15
*13
15
*2712 29
*2712 30
3358 3378 3334 3438
4814 4838
4778 48
*3914 4014 *3934 4112
145 14533 144 14512
82
8212 *81
82
*14
82
7834 7834 *76
116 *108 ig90 *____ 90
148 143
148 148
1912 1978 1912 1978
*50
5012 4978 5012
2914
*29
2912 29
52
5238
52
Si
8012 8034
81
*80
4458
4418 4414 44
*69
71
*70
71
*22
*20
25
25
*52
58
*54
58
*64
88
68
*64
15314 15412 154 15412
*141 143 *141 143
*20
25
*20
25
5414 5438 5414 5414
88
*84
8812 *84
13818 13818 *137 139
153 15358 15414 15414
*8934 9034 *8912 91
4758 4818 4778 4814
*74
7412
*7414 75
69
7058
6934 69
*132 13912 135 135
58
*56
*56
58
2258 2258 2258 2258
13514 13558 13512 13718
57
5812 57
*57
*104 118 *104 118
88
88
89
*87
11
431; 11
1
164 164
*461* 49
9512 9512 9558 9558
90
*89
90
*89
14838 19834 14738 14858
107 107 *107 110
*102 110 *102 110
*105 115 *107 115
14814 14914 14814 14912
95
95
*9414 95
*105 11712 115 115
18238 16318 162 18318
*90
94
94
*90
*96 100
*96
99
40
4058 4018 4078
7918 7912 7934 8012
72
70
71
*70
5714 5734 5834 5712
*2812 29
2834 29
*67
68
*6712 68
12912 13038 12938 13038
3058 3112 3138 3134
*69
70
6934 70
3514 3512 3512 36
520
20
20
20
*914 934 *812 10
5334 5378 5334 54
7012 7078 7012 7118
*10714 108
108 108
20153 20234 20114 20258
10312 10334 10312 10334
42
*9012 92
42
7212 7314
*7112 73
2014 2014 2014
20
52
5134 5238
52
3254
z*21
2134 32
953 958 *812 10
1834 1834 1812 1812
1014 1014 *9
1019,
*48
4878 4878
50
*90 __-_ *90 ____
*ioi"
Tuesday
Nov. 2.
Wednesday
Nov. 3.
Thursday
Nov. 4.
Friday
Nov. 5.
Sales of
the
Week
Shares.
STOCKS
NEW YORK STOCK
EXCHANGE
Range since Jan. 1 1900.
On basis of 100-share lots.
Lowest.
Highest.
Range for Previous
Year (1908).
Lowest.
Railroads
2
Fet,
12334 1245 124 12458 x120 1211* 120,410 A tch Topeim & SantaFe 9778 Jan 13 12538 Oct .
J'
10014 Jan 20
8338 Feb
105 1051g 105 10518 105 10518 2,967 2-1- Do pref
591.2 Me'
ng
e?2
‘...
4 Ati
13612 13712 137 13914 13812 13914 4,300 Atlantic Coast Line RR_ 10712 Ja , 14 1(413
10312 Feb 2.1 12214 J'ly
7612 Feb
, Ohio
oorert
11812 11778 11612 11758 11612 11878 20,600 Bair
9)4 Apr 12
,•0 Jan
92 Feb
9212 9212
pet
93
250
19234 9234 *90
8273
J'ne
67
Jan
9
37(4
Feb
Transit_
Brooklyn
34
77
76
8,860
7614 7714 7634 77
x165 Mch :1 189,3 Oct 5 14) Feb
184 18458 18412 18412 18414 18458 2,500 (lanadian Pacific
6014 Jan 11 6934 Aug 21
54 Mel,
k)anada Southern
*6714 71
*6734 7112 *6734 7112
215 Feb 2.5 32312 Sep 18 160 Feb
295 299
200 Central of New Jersey
*290 300 *290 400
70
434 Oct
p 8
1
2512 Feb
55.53 Jan 6 0
8958 8834 8938 6612 6914 49,000 Chesapeake & Ohio
89
Apr
1.11 Feb
68
5778 Feb 24
300 Chicago & Alton RR
6312 6812 *6814 6914 *67
Nich
71) Nov 1 7812 'leh! 7
74
74
*70
Do prof
_ 74
*70
200
53
7 Nov
o 4
2114
213 Feb
1934 2012 2012 2114 2012 2114 7,675 Chic G Wes ctfs dep ad pd 88 Aug 2,. 3
3312 Met,
64 Nov 3
*6012 65
6114 . 6114
200
Do 4% deben ctts (len_ 6114 Nov r
64
64
1512 Feb
27 Aug16
Do pref "A" ctts dep
325g 3258 3412 3578 3514 3512 1,500
5 Feb
25
6148 s
Neopy1Li
2412 2614 2512 2558 2534 2614 2,600
Do pref "B"&Cs 3d pd 81314 Aug 23 10
15714 15618 .15714 15734 15714 15914 26,800 Chicago Milw & St Paul_ 141 Feb Z:
10312 Jan
17378 175
158'. Meh 15 181 Aug 6 138 Jan
*173 175 *174 175
Do pref
875
18934 190
18934 18934 189 189
500 Chicago & North Western 11318 Feb 24 19812 Aug 18 13512 Jnn
*210 225 *210 225 *210 225
3208 Meta', 5230 Aug 7 4185 Jan
Do pref
*155 165 *155 165 *155 165
Chic St P Minn eG Omaha 148 Apr 22 167 Aug 13 114 Feb
*165 175 *165 175 *165 175
16612 Jan 30 5180 J'ly 27 14012 Jan
Do pref
*4
5
4
4
53 Apt
7 Jan 4
4 J'ly ti
4
414
400 Chic Un Trac ctfs stmpd
*1112 14
4 Apr
12 J'ly 12 1814 Jan 27
-----Do pref ctfs stmpd
471..181,
791,Feb lb
an 29
8 *78
79
*77
7912 -79141 798500 Cleve Cln Chic & St L._
8518 Feb
101) Jan 4 105 Meh22
*100 110 *100 110 *100 110
Do pref
1
814 Jan 8
'21 Feb
66
51 Oct 23 8
60
56
57
59
55
55
2,125 Colorado & Southern
7812 Jan 2
May
5038 Jan
80
8038 81
1,125
*7912 8012 80
Do 1st preferred
3934 Feb
Do 2d prefer-ed
7314 Jan 2 8412 Jan 7
7812 7834 7812 7912 7934 8012 1,900
16734 Feb 24 200 May14 14112 Feb
18512 188
1,400
186 186
18512 186
elaware & Hudson
400
56912 56912
569 570
elaware Lack & West- 535 Feb ., 680 Apr 22 420 Jan
560 560
3758 Jan 6 54 Apr f:0
1414 Feb
4834 4914 4812 4918 4814 4834 9,160 Denver & Rio Grande
8914 Merl
7912 Jan 6 90 Feb 10
Do pref
770
8444 8434 8412 8412 8412 8412
3212 Apr
56 Jan 30 7134 Aug13
67
*64
Detroit United
*64
70
70
*65
6 Feb
Duluth So Shore & Atlan 1413 Oct 22 21 Jan 15
1434
*1312 15
*1312 1512 *14
28 Feb 23 3612 Jan 15
1134 Feb
*2812 29
*2812 3012
*2812 29
Do pref
39 J'ne 7
2258 Mehil
12 Meli
3312 15,600
3312 3438 33
3378 33
3612 Mehl: 4586683:2. AugANt g 12
9
1
2433 Itch
48
48
4734 48
4712 4758 1,750
rieDo 1st pref
16 Nfeh
2812 Mehll
*3912 4134 *3914 4012 3918 3913
100
Do 2d pref
14412 14514 14412 14512 14412 14534 21,720 Great Northern pref
13658 Feb 24 15773 Aug 12 11334 Feb
82
8312 15,100
8338 8214 8314 83
_ 6518841112
4812 Jan
Iron Ore
*1412 ____ *1412
8 Jan
Green Bay &propertles_W,deb ctf11 14 Feb 26 17 Jan
'20 Airii
*76
7933 *78
39 Feb 1 x7938 Oct 22
avana Electric
7958 57314 7814 ---245
8313 Feb 6 00 Sep 16 170 Jan
I I Do pref
62 Feb
*108 gi" ii;" ig" iio" 12013 -1.186 Hock Val J P & M Co rcts 97 May 13 126 Aug14
88 Apr 2,
9412 J'nell
89 Mch
90
90
9012 9012
300 Flocking Valley pref
602
233188
3
137 Feb 23 152
12212 Feb
*146 149
iW"2 14812 14812
500 Illinois Central
1158 Mch 23
634 Jan
20
2058 1978 2038 1934 2038 68,200 Lnterboro-Metropolitan _
5038 5112 5038 5078 4934 5012 20,700
JA'
O tg
e2
218
2
1713 Feb
3634 Mch 23
Do pref
27 Feb 24 36 Apr 15
10 Feb
2914 2914 2912 2934 *29
810 Iowa Central
2912
5134 5134 51
48 Sep 9 62 Apr 15
2712 Feb
5112 52
5134 1,825
Do pref
57 Aug
323
8012 8012 *7078 81
*8014 81
C Ft S & M tr cfs, prof 7434 Feb 2 82 Sep 14
4478 4278 4312 4278 4412 11,860
18 Feb
37 Feb.23 5014 Aug18
43
ansas City Southern
46 Feb
6778 Feb 21
71
70
70
100
*89
*6978 7012
Do pre(
2112 2412 *2212 25
261
912 A ug 12
1912 Feb 25 7
8
*20
25
800
12 Jan
ake Erie & Western
4
'nne14
53
4718
2 JJa
56
*52
58
58
200 Li Do pref
48 .:an 23 10
24 May
5712 *54
*64
68
68
59 Jan 4 7113 May24
*64
68
*64
80 Feb
Long Island
x121 Jan 29 16212 Aug12
*15212 15412 15378 155
153 155
6,810 Louisville & Nashville
8714 Feb
14234 14234 *142 143
*141 143
120
14014 Aug 20
120 Jan
anhattan Elevated
18 J'ly 2 42 Jan 5
*20
26
2134 2434 *22
100
15 Feb
25
etropolitan Street
5418 5334 54
20 Mch
5412 54
1,200 Minneapolis & St Louis
51 Sep 16 66 Jan 8
*53
81 Feb
81 Mehl() 90 Jan 8
88
90
*34
88 *84
*84
Do pref
13212 Jan 2 14912 Jan 8
450 Minn St P & S S Marie
7914 Jan
13714 18714 *136 13712 13714 13714
147 Apr 13 16412 Aug 9 12312 Feb
464
*152 15512 154 154 *151 155
Do met
9
48
2
73144 Sop
AO:
17
88
89 J'ly 22 17
9012 9018 9018
110
Do leased line etfs
1901s 9018 *90
1712 meh
3512 Feb 23 5012 Oct 18
4712 4838 4738 4814 4634 4758 35,925 Mo Kansas & Texas
74
1,600
71 Feb 23
96 Feb
Do prof
7412 7412 7412 7412 74
7712 Aug 5
2812 Feb
66 Feb 24
6034 7034 6973 7114 7014 7112 19,220 Missouri Pacific
100 Mash Chatt & St Louis_ 12212 Jan 5 13912 Aug12
*132 138 *132 138 *132 138
9734 Jan
*56
*5512 57
5712
LI at Rys of Mex 1st pref 4412 Apr 5 61 Sep 16
58
*56
2212 2238 2238 3,350
22 Nov 3 2853 May22
2258 22
22
Do 2d prof
13314 13434 43,530 N Y Central ea Hudson.. 12012 Feb 24
9018 Jan
13514 13634 13358 135
*6212 6312 3,900 N Y Chic & St Louls
4813 Mch 15 63 Nov 4
63
'2412 Jan
5812 6014 61
*104 118 *104 118 *105 118
100 Feb 20 100 Feb 20
Do 1st prof
90 Jan
7614 Apr 6 89 Oct 21
90
*87
89
89
200
8912 *88
Do 2d pref
60 Feb
164 165
165 165
16214 163
1,811 NYNH & Hartford
15713 Feb 24 17434 J11014 12833 Jan
4634 4714 4658 47
4612 47
3,750 N Y Ontario de Western_ 4214 Feb 24 5558 J'ne 12
2918 Feb
9534 96
9513 9578 9558 96
Oct
8414 Jan 8
5,900 Norfolk & Western
58 Fe!)
18
5
*88
8912 8912 *89
97
212 J'ly 2
90
90
8518 Mch 28 9
100
Do adjustment pref
74 Mch
14758 14812 148 14878 14778 14912 16,635 Northern Pacific
13314 Feb 24
11678 Jan
*106 110 *106 110 *104 110
59
1112
76 Meh 3 11
4O
Ac
utg17
1
300 Dacinc Coast Co
65 Sep
*102 110 *102 110 *102 110
10
1 )
eopt 28
7
100 Nich30 510
L
Do 1st pref
90 May
*106 110 *108 110 *104 110
88 Mch 27
Do 2(1 pref
79 Mch
X14234
12618 Feb *83 15114 Sep 29 10834 Jan
14878 14734 14613 147
14358 212,832 Pennsylvania
8612 Jan 5 19
9
100
6li As
l Oeu
co
ta 22'
9512 9614 96
9612 9612 9812 5,900 Pittsb Cin Chic & St L
/
31
59 Jan
104 Feb 10
*105 115 *105 119 *105 119
200
Do prof
8118 Mel)
118 Feb 23 17338 Sep 21
16214 16338 16258 18414 169,220 D eadIng
18158 183
9218 Feb
89 Meh22
9158 9134
92
94
*90
*90
200 1-8, 1st pref
78 Jan
90 Feb 1 10434 May13
96
*96 100
98
98
98
2d pref
500
70 Jan
2078 Feb 24 4238 Aug 12
4018 4058 118,100 Rock Island Company_
4012 4114 4014 41
1012 Feb
5758 Feb 24 82 Nov 4
2034 Feb
7958 8078 8012 82
81
8112 29,100
Do pref
*69
72
*69
42 J'ne
*69
72
370 Qt L & San Fr, 1st prof. 6514 Me1129 73 J'ly
7112
36 Feb 23 6034 Sep 16
1914 Feb
5812 5812 5634 5838 5713 5814 8,800 Li Do 2d pref
*28
2012 Feb 25 3138 Sep 29
2834 30
10 Mch
29
2958 3014 3,800 St Louis Southwestern
2412 Feb
4712 Jaa 6 7112 J'ne 2
*67
68
68
6834 8878 8878 1,200
Do pref
12878 12978 12878 12934 12938 13078 104,025 Southern Pacific Co
11458 Feb 24 13918 Aug ii,
6614 Feb
3113 3112 3034 3114 3038 3112 28,900 Southern v tr cfz stmpd- 12 Feb 24 34 Aug 11
913 Jan
2513 Melt
70
7018 70
60 Jan 5 75 Aug 12
7018 2,270
7018 70
Do pref
do
3534 36
1234 Feb
3513 3578 3558 3818 4,300 Texas & Pacific
30 Feb 24 4012 Aug 23
1912 2014 1953 2014 1958 20
1512 Mch
18 J'ly 2 4212 Jan 18
2,575 I hird Avenue (N Y)
*612 1012 *812 1012 *812 11
Toledo Railways & Light
7 May12 1538 Jan 2
012 Oct
54
54
12 Feb
5412 54
43 Feb 26 5478 Oct Ill
5414 54
3,000 Toledo St L & Western
1
7118 7114 7078 7113 7058 7012 2,600
1414
02 Jan 4
13 Feb
6434 Feb 24 17
Do pref
10914 10914 10912 10912 *10912 110
Oct
405 Twin City Rapid Transit 97 Jan 2
7814 Feb
20004 20214 20078 20212 202 20434 263,000 Inion Pacific
17212 Feb 24 219 Aug 16 11012 Mch
10314 10334 10318 10314 10334 10478 7,205 8-/ Do pref
31114 Apr
x94 MO 1 11812 Aug16
4312 44
4312 4312 44
44
1.500 Unit Rys Inv't of San Fr 30 Feb 25 47 Sep 13
15 Jan
7312 7434 74
7458 74
7414 3,100
Do pref
5014 Feb 25 77 Sep 14
2712 Jan
20
1934 20
2018 2014 20
2,578
15 Feb 23 2438 J'nel5
634 Mch
5214
5112 52
513;
51
5238 12,278
11342 JNo
'ne
v 15
5
35
Do p-ef
41 Feb 23 6
13 Mch
3412 3434 3512 5,700 West Aid rects 3d pald
*3214 33
33
z21 Oct 9
9
9
400 Wheeling & Lake Erie...
b J'ly 13 1273 Jan 4
412 A1C11
*812 912
912 912
*16
19
1812 1812
*17
19
500
1514 J'ly 13 2578 Jan b
Do 1st pref
1218 Apr
11
*9
11
612 J'ly 13
150
Do 2d pref
t, Feb
*913 1012 *9
1518 Jan 8
501. 5012 5012 51
4978 50
3578 Jan 6 6373 Apr 20
1,600 Wisconsin Central
1312 Feb
1, '
*90
'
••1,II
*90
13,, ore! Trust Co Ctts
91,,.
*90
------
F)
E
H
K
TV
Highest.
10114 Deo
104 Dec
11112 Deo
1173 Dec
94 Deo
6934 Dec
18018 Nov
68 Nov
229 Deo
5933 Dec
6878 Dec
79 Dec
1458 Nov
E81.4 Aug
/3 Dec
1718 Nov
15212 Dec
1643., Dec
18512 Dec
224 Dec
160 Deo
174 Deo
7i8 Dec
18 Dec
7012 Dec
t 978 Dec
59 Dec
78 Dec
78 Dec
,81.381Deo
375 Nov
4012 Dec
83t4.Deo
66 Nov
874 Nov
3334 Nov
36 Nov
5138 Dec
41 Dec
14814 Dec
7513 Nov
1712 Dec
40 Dec
84 Dec
10412Deo
113 Dec
14934 Nov
20 Dec
4912 Dec
3212 Deo
57 Dec
7512 Dec
4238 Dec
7218 Dec
26 Dec
58 Dec
5838 Dec
12534 Dec
15434 Dec
4412 Dec
5613 Dec
90 Dec
135 Nov
36112 Deo
4312 Dec
7513 Dec
6713 Dec
122 Nov
126 Dec
5712 Dec
105 Nov
85 Deo
161 Nov
4778 Dec
8614 Nov
88 Dec
15734 Nov
531,Jan
00 May
97 Jan
13214 Dec
8812 Dec
10834 Nov
14314 Dec
92 Dec
59 Dec
2514 Deo
6258 Dec
69 Dec
4214 Dec
24 Dec
6572 Dec
12212 Dec
2714 Dec
6312 Dec
3714 Dec
47 Aug
1512 Dec
50 Dec
7312 Dec
9638 Dec
18478 Nov
98 Nov
40 Dec
5912 Dec
2058 Dec
5234 Dec
13 Dec
2814 Dec
1534 Nov
3814 Dec
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS.
Li
Ask
ilia
Banks
Banks
Ask
ilia
Bid
disk
Ask
"14
Banks
Banks
Ask
300 350 Jefferson 11. 180
. Fifth
Ch.lseaEx I 200
1
A7s5k
190
0
( .
2V
) .12-0_ ,
.1714
Nassau Ii...
P
,r
eo
sloCiravE
nclie
sh_1.: 8
New Yor'c
4-4-0 - First
825 840 Li berty...._ _ 555
25
Chemical __ 430
130
. New Neth' 1 2
175
Aetna
185 Citizens' Ctl 15712 18212 14th St11 - 155
4-S5 - New YorlcCo 750
. Lincoln ___ 420
Seaboard - - 35,1
375
575
America 11
585 City
41212 41712 Fourth
235
2
.4-5. ManhattanT 34) 350
-New York _ 32712 3I7I2 Second -- 400
Amzx Exch. 240 250 Coal 53 Iron 140
330
135
150 Gallatin
345
-263
230 S
Mark% &Ful 255
N'ht &Day1,
Battei y Pk 130
--- Colonial I
300
20) 300 ‘fechanies'.. 257
. Garfield
_
282 19th Ward420 Sthaefem1r.-: 300
___: Columblefl_ 375
Bowery If - 375
4-2-5 - Germ Am 81 140
fir
:::: Mereantilo _ 185
190
1;-0-::
0)--- .:1
1,
15
., 12th Ward.
N
paooritnhoerin
i_:: .1
- - Commerce . 1192
Eironx Boro1 300
Germ'n Ball 450
3,ferch Each 160
___.
15-8 Copper
Bryant Pk 11 155
300
.-.:-_- Germania 11 550
Merchants'_ 170
17212 Park
;Frlo1=1 g- ior
150 Corn Ex 11- 330 335 - Greenwich 11 265
Butch & Dr 140
2-80-- ‘letropolis 1, 400
II
420 People's 11.- 280
175
tin/Inver _ 610 625 ‘letropol'n11 18712 195
East River_ 125
135
Century 11_ 170
Phenix
1175
Imp & Traci 550
175
Chase ____ . 370 400 Fidelity 11- 165
560
%It Morrls11- 750
275
(41) 13H- .3)Vioearitticv11:1011 22E
Plaza IL
335
350 Fifth Ave 4258
glatham
.... In Inc
, V El 200
210
1n1
,
11.11
290 310
• Bid and asked prices; no sales were made on tl is day. 3 Ex-rights 4 Less than 100 shares. 11 State banks. a Ex-dividend and rights. b New stock.
auction
this
Sale
at
Stock
Exchange
or
at
week,
il
First
3
installment paid. 71 Sold at private sale at this price. is 2d paid.
Banks
blew York Stoox .itecora-Conciuded-Page
Nov.6 1909
STOCKS-I1IGRE.S7' AND LOWEST SALE PRICES.
Monday
Noo.1
Wednesday
Nov. 3.
Tuesday
Nov. 2.
Thursday
Nov. 4.
Friday
Nov. 5.
Sales of
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
Range since Jan. 1 1303.
On lasts of 100-s5arc lots.
Lowest.
Highest.
Range for Previous
Year (1908).
Lowest.
Highest.
1
Saturday
Oct.30
1205
*234
__ *234
*15 1510 1512 1)
5
..7-8
5218 5210 5212 535,
86
867/-i 8553 8634
*46
403.) 4634 4712
*10114 102 *10114 102
4718 4738 4712 49
*95
0712 *95
971,
)
12
12
1214 1214
82,4 8212 8278 827g
7238 7378 7414 7538
119 119
11912 11912
7712 7734 77
7712
*106 103 *10(3 108
*230 250 *230 250
1814 814
814 812
4412 4412 45
4514
*2512 26
2512 2512
1534 16
1558 16
43
*40
41
40
6014 6218 6238 64
*115 116 *11512 11612
734 734
734 734
*4912 50
4934 4934
91
*9012 9112
01
08
0858 9778 9858
III 11138 110 111
*250 300 *250 300
*10012 102 *10012 104
6334 6434 6412 65
133 13312 *132 133
*12)3 128 *126 128
14118 14114 14118 14158
100 100
9978 100
*35
37
3614 3634
10314 10338 10318 10338
4814 4918 4814 4878
*373 418 *373 418
33
3338 3314 35
*61
65
65
*61
143 143
143 143
1718 1714
17
17
34
*3158 3318 *33
4858
41314 46
46
410919 10012 109 109
47
4818
4578 47
181
81
8014 8038
_____________
ELECTION DAY
14-2-12 iii.2 Ili"
2134 2178 2134 22
48538 8538 8534 8534
*55
61
61
*55
3714 3734 3773 3878
4,___. 82 *____ 82
89
89
*86
89
164 164
161 164
9978 9978 9978 9978
10434 105
101 104
*125 12514 *12412 125
*61n 718
*22
23
22773 2278
*1512 1612 *1512 16
02
62
462
62
5034 5034 4958 5058
8934 8978 90
9014
10434
10458
10412 10614
*91
92
91
91
*7514 7510 7512 7534
4115 115 *113 11512
*124 128 *124 12912
2112
*2012 2112 21
*94
97
*94
97
8834 8914 8812 8934
111034 11034 111 111
8978 91
9012 92
7934 80
79
7934
40
4012 4012 4078
5112 5112 5112 5112
11514 11512 11512 11612
2134 22
22
2378
6234 63
8312 13478
5012 5178 5212 5378
107 10712 10878 10878
19334 19334 *192 194
*4
5
434 434
7
7
7
7
4812 49
49
5034
*105 107 *10414 107
4733 4778 47
4778
10578 10638 106 10678
9212
9212 92
92
*117
__ *118
3812 1612 36 16
-_ *8934 91
;ii 1:;12 *12
1312
74
74
75
*74
117 11912 11978 122
11012 11112
111 111
3138 3138 3112 3214
8512 8578
*85
86
*97 104
*99 105
8214 8238
8178 82
1234 1234 13
13
3212
3112 3110 31
4912 501-4' 5014 5114
11912 11912 *11912 120
8512 8512 8512 8512
8975 9034 9014 911g
128 128
12758 12812
4834 4938 4914 5012
4678 47
47
4878
12114 12114 *120 12114
72
*71
72
*70
3234 3434 38
37
8378 85
88
91
*406 450 *405 450
77
77
77
7712
87
87
8612 8713
*1:12 1.111 *1:12 1411
dustrial& Miscellaneous
_ :lam, E:,press
_ *234 ---------- --4
. *234
190 Jan 2) 1221) Aug2t)
*234
9,300 (11 1118 Chalmers
8 1534 16
1673 Aug 3
1234 Feb 24
1538 153-4 1538 -1-5517,458
Do ()ref
38 Feb 24 5733 Aug 3
5438 5334 5412 5412 56
54
8910 8714 8834 129,830 Amalgamated Copper
(5 Feb 20 8912 Nov 4
88
8612 89
4978 4,900 Amer Agricultural Chem_
:_;312 Jan 5 50 Aug 12
4734 4734 4818 a958 49
95), Jan 13 103 Aug
Do wet
*10114 10214 *10114 10214 *10014 10114
4912 28,790 Amencan Beet Sugar
48
4918 4812 4878 48
2014 Ja'l 13 4812 lug 2
100
*95
1/o pret
06
98
*05
96
96
8" J •n 7 9.1 Oct 4
1218 1214 1214 1255 1253 1234 7,830 American Can
712 Feb 23 141, May 1
84
3,600
Do pref
8214 8278 8312 8312 84
7112 Feb 23 86 J'ne 4
7558 7638 7512 7612 7514 7578 48,600 American Car & Foundry 9414 Feb 24 7612 Nov 4
11978 11978 1,220
120 120
Do pref
11978 120
10712 Feb 23 12134 Aug a
4218 Jan 5 7914 Nov 5
7512 77
7573 7738 7753 7914 27,665 American Cotton 011
106 10714 *104 10612 1107 107
98 Jan 7 10,14 Nov 3
1)0 Pre
315
410 American Express
*230 250 218 124012 245 246
1205 Feb 5 255 Oct 25
2,520 American Hide & Leather
812 812
812 9
812 812
614 Feb 25 10 Sep 3
45
5,360
4558 4512 48
4534 46
Do pref
34 Feb 24 5178 Aug 3
25
25
25
2512 *2412 25
900 American Ice Securities... 1878 Jan 8 4214 AK 13
1512 16
4,000 American Linseed
1534 1614 1578 16
12 Feb 25 20 inc 14
4114 4338 *4112 4312 4212 4258 2,20(1
Do pref
29 Jan 12 4734 J'nel4
6314 6438 6314 6334 8212 6358 24,645 Amerlcan Locomotive
49 Feb 23 6914 Aug 4
*115 117
11(3 116
300
11534 11534
Do pret
10914 Feb 24 122 Aug 4
8
8
814 812
812 812 1,000 American Malt Ccrp
1112 crut, 1
512 J'ly 10
4912 50
Do _pret_
5013 5012 5013 6012 1,600
/2 Jan 7 59 Sep 21
91
800 Amer Smelters vec nref B *0 Jan 4 9'238 Aug27
9012 9012 91
*9012 91
88,920 Amer Smelting& Refining 7734 Feb 24 10478 Aug 12
9734 9914 09 10034 0858 100
Do pret
110 111
11112 11178 8,900
11112 112
101 Jan 2 11034 Aug 1
American Snuff
*250 300 *250 300 *250 300
225 Mch 9 2130 Aug 2
25
Do pref
1102 102 '510012 101 *10012 10212
95 hirh 1 105 May22
05
6512 65
055g 6514 6618 8,298 Amer Steel Found (new) _
3478 Feb 24 6818 Nov I
133 13314 133 134
133 13378 5,800 American Sugar Refining 121 J'ne 17 13638 Sep 2)
Do pret
*126 128 *126 129 *125 128
120 J'nel6 1s1 Apr •
14118 14119 141 14138 141 14138 8,150 American Teleph & Teleg 125 Feb 1 14518 *,/•1) 21
100 10018 10018 10018 2,475 American Tobac (new).pf 8012 Feb 8 104 May(
9978 100
26 Feb 4 4012 Aug 27
3672 3458 3614 1,000 American Woolen
3514 38 *30
Do pret
9334 Jan 6 10/34 J'ne 14
10314 10338 10314 10312 10314 10314 1,170
4858 18,015 AnacondaCopper Par$25 $3734 Feb 26 352 May I
4858 4038 4858 4914 48
' 38
100 dilatopilas Mining Par$20 $27 Jan 29 3512 inc
378 378
*378 418 *378 418
3614 9,900 14ethlehem Steel
1834 Mob 9 3614 Sep '21
35
3418 3412 3414 36
300 11P Do pret
*81
85
47 Feb 24 6912 Sep a
6712 0712 6712 8712
142 142
833 Brooklyn Union Gas
*14212 145 *14212 143
118 Jan 23 15112 Sep 1
17
910 Brunswick Dock & C Imp 13 Jan 13 21), Oct 4
*1712 1834
1712 18
18
*33
33
33
3378 33
33
500 Butterick Co
2378 Jan 2 34i,, May)/
4838 4014 4838 49
(lentral Leather
4712 4878 51,830
2512 Mch 2 5134 Oct 7
*10812 110 1109 109
109 10912
750 ki Do pret
9934 Apr 5 Ill Sep 2
4714 49
4914 5112 4012 5134 114,070 Colorado Fuel dc Iron
'29 Feb 23 5134 Nov 3
79
80
7912 2,410 Col & Flock Coal & Iron_
7934 7934 79
2138 Feb 23 81 Sep 21
21e. 21e.
350 Comstock Tunnel_Par 12 21e Apr 29 37c Oct I
Mil f0; i45is 11412 144 145 22,300 Consolidated Gas (N Y).. 11412 Feb 4 16514 al ail 9
2812 J'ae 2
2134 2214 2112 2184 2184 2214 4,170 Corn Products Refining_
1612 Feb 21
86
86
8558 8618 86
88
410
Do pret
7314 Feb 24 9312 Inc 1
80
61
62
62
*81
85
300 Crex Carpet
46 Jan 5 02 Nov 9
*3713 3812 6,800 Distillers' Securities Corp 3212 Feb 23 4112 Jan 23
3773 3812 3734 38
*Federal Mining & Smelt'g 55 MO) 2 9512 Mayll
8134 *- 8134 *..
8134
§or4 8614 ii
87
§ef8 88
Do prat
80 Feb 24 04 Aug 11
700
4163 163
16018 Feb 23 17234 Aug 12
162 16334 18312 16434 2,375 General Electric
900 Granb y Cons hl S & P
91 Meh12 luft .1011 4
9973 0978 9978 9978 *99 100
105 10514 108 110
110 11112 3,300 i nt Harvester stk he ctfs 62 Jan 30 11112 Nov 1
12414 12518 12512 12534 12534 126
10914 Jan 10 126 Nov 1
900 I Do prof stk tr etre
800 Int Mer Marine stk he ctIs
..) Oct 2
714
538 J'ly 9
7
*612 718 *812 718
2234 2234 2258 2258 2212 2338 2,069
Do pre(
1834 J'iy 9 27I8 Jail 1
1512 155s 153s 1512 15
1512 1,700 International Paper
912 Nich13 1914 J3.1 29
62
62
62
62
*61
Do prat
82
4754 Mett18 6934 Aug
1,150
4934 50
3312 Feb 25 5178 Nov 1
4934 5134 5138 5178 8,600 Internat Steam Pump
8934 9014 90
90
9012 2,150
Do pref.
8212 Jan 30 91 Sep 2).
190
10618 10712 10734 10914 10878 10958 45,120 Laclede Gas (St L) corn._ 104 J'ne25 10958 Nov 1
90
92
9012 9012 92
94
3,900 Mackay Companies
70 Jan 21 94 Sep 21
*7514 7512 7512 7512 7512 76
Do pref
600
6912 Jan 0 7714 Sep 2::
*114 115 *114 11534 *11418 11534
9012 Jan _.- 120 Sep 21
50Vational Biscuit
11813 Jan 11 130 Sep 21
*124 12912 *124 12913 *124 128
11 Do pret
21
21
2058 21
21
*20
1,100 Nat Enamel'g & Stamp'g 1258 Feb 29 23 Sep 2(
Do pref
97
82 Jan 5 9912 Sep :
*94
97
*94
*94
97
8814 8938 8938 9038 8914 8978 1,850 National Lead
7114 Feb 25 94 Aug it
10234 Apr 21 11334 Aug':
*11012 11114 1112 112 *11014 11134
Do prof
160
80 Feb 23 97 Aug 11
9218 93
94
9514 3,460 New York Alr Brake
9234 94
80
7934 7934 1,810 North American Co. new 72 Jan 13 8712 J'ne 14
7912 7912 79
2018 Feb 24 4312 Nov 1
417s 4234 4234 4312 11,400 Pacific Mall
4078 42
900 1 acific Teiep & Teleg
48 Oct 1 64 Oct ,
5034 5114 5114 5114 5053 51
11578 11614 z11412 1143: 11334 11438 78,600 People's G L & C (Chic). 10112 Jan 13 120 Aug 1(
2314 2334 2314 2478 2438 2612 67,650 Pittsburgh Coal Co
10 Apr 21 2812 Nov 1
Do pret
7014 8,100
13912 69
6434 6612 87
40 Feb 25 7014 Nov 1
5318 5414 20,180 Pressed Steel Car
3012 Feb 23 56 Aug :
5312 5512 5418 55
570
40714 108 *107 10814 *107 108
Do pref
96 Feb 26 11134 Augl]
400 Pullman Company
19314 19312 *193 194
*192 194
189 Jan 30 200 Aug (
600 Quicksilver Mining
418 418
5
412 412 *4
938 J'ly (5
15 Jan 4
Do pre
3 Dich29
700
*8
10 Mayl:3
712
7
7
7
7
5012 5,750 I.)allway Steel Spring
5112 50
5012 5138 51
8212 Mch 8 5412 Aug ,
I I, Do pref
0778 Feb 24 109 Aug V
*106 107 *104 10712 *10414 10710
4714 48
4734 4914 4778 4878 37,100 Re_public Iron & Steel
1658 Feb 23 4913 Sep 21
Do pref
106'1 10718 10631 107
3,700
10612 107
8718 Feb24 11014 J'iy 2:
91
9034 92
9134 9112 9112 3,550 4,21088-Sheffield Steel & /r 68 Feb 23 9158 Oct .
0
1
Do pref
_ *119
__ - *117
10738 Feb 20 120 Sep
--__
36
3678 3614 -3112 *3534 3612 3,000 dTennesseeCopper Par$25 83312 Oct 13 $49 Jan ,
*8934 91
Texas Pacific Land Trust 8012 Feb 23 9378 J'ly 11
*3934 91
*90
91
1253 1258 1212 1212 1212 1258 1,200U.nlon Bag & Paper__
1538 J'ne L
914 Feb 24
8114 J'ne2i
Do pref
86 Jan is
300
75
77
7512 7512 77
*73
12134 12212 12134 12134 *12138 12214 7,570 united Dry Goods Cos.- 115 Oct 28 12212 Nov 1
11034 111
11114 11134 111 11138 1,435
z109 Sep 1 11134 Aug 15
Do pref
3314 3338 :3312 3912 3334 3438 4,200 U S Cast I Pipe ec Foundr 2438 Feb 24 3512 inc I5
88
86
89
8678 87
Do pref
87
1,885
70 Mch 2 8712 Aug 11
*97 105
*97 105
*98 105
United States Express
82 Feb 10 107 Oct '21)
82
82
82
82
82
82
1,220 U S Realty & Improvem't 84 Feb 23 87 Sep 1
*11
14
*10
14
*10
14
300 U S Reduction & Re1112'g 10 hich12 1712 Joel
30
30
31
3012 3014 3014 1,875
Do pre!
24 Feb 24 3912 Aug 1
5112 5012 5078 8,950 United States Rubber
5034 5138 51
27 Feb 24 6758 Augli
11934 11934 11912 11912 *119 120
400
Do 1st pre!
98 Jan 29 12312 Aug24
*8414 87
8.512 8512 8512 8512
400
Do 2d pret
8712 Feb 25 8912 Aug2
9014 9114 9038 9318 9112 9318 725,350 United States Steel
4114 Feb '23 9478 Oct .4
12778 12814 128 120 x127 12734 18,387
Do pref
107 Feb 23 131 Oct 4
50
5112 4934 5113i) 21,600 dUtah Copper.. Par $10 $3918 Feb 26 55412 Augl2
4934 51
5012
51
51
25,200 VIrgInla-Carollna Chem._
4812 4934 4958
4078 Feb 24 5814 J'ne 14
*120 123
121 121
121 121
360
Do pret
114 Jan 19 12318 Aug23
70
70
72
500 Virginia Iron Coal & Coke 57 Feb 2.1 7578 Sep 17
70
72
*71
3012 3714 34
3614 3178 33
4,800 Vulcan DetinnIng
8 Feb 1 3714 Nov 3
9134 8912 8912 8618 8618 3,057
90
Do pret
45 Jan 30 0134 Nov 3
*405 450 *415 450 *410 450
Wells Fargo & Co
300 Jan 5 475 Oct 19
7838 2,500 T T estern Union Teleg- 64 Feb 24 8138 Sep 14
7873 77
7714 7712 78
8612 8612 8612 8812 87
8814 7,900 Westingh'seEl &Mfg assen
74 Feb 24 90 Aug
*1,9 *An .1'2 i 1,40
',An
1.1n
inn
nr, 1.. ...,
1111
11oh '4
7.4c
Con :4
164 Jan
5 Meti
14 Mei)
4518 Feb
13 Jan
7812 Jan
912 Feb
65 Jan
4 Feb
44 Jan
.1512 Feb
8414 Mel,
'2434 Feb
180 Jan
17(1 Feb
234 Feb
12)2 Mrs
1212 Feb
0 Mel)
17 Sic!
3138 Feb
85t2 Jan
Mr•I,
21 Jan
70 Jan
5512 Feb
am Feb
188 Aug
80 Met.
'28 Sep
9834 Jan
105 Feb
101 Jan
7212Jan
1512 Feb
7e,14 Feb
S2712 Feb
3212 Jan
12 Jan
35 Apr
r135 Feb
8 Jan
110 Feb
1512 Feb
7534 Jan
155s Feb
1434 hich
200 Mel)
96 Jan
1034 Feb
66 Jan
4712 Oct
2714 Feb
7212 Nov
59 Feb
ill Jan
7834 Jan
52 inc
49 J'ne
6 Oct
16 Feb
8 Apr
47 Oct
13 Jan
65 Jan
i'..(A) Aug
1623 Dec
5234 Dec
8838 Nov
35 Nov
86 Nov
2978 Apr
8134 Dec
1014 Nov
7e,78 Nov
5034 Dec
109 Dec
9934 Nov
97 Nov
4224 May
S1 2, Dec
3734 Dec
3178 Aug
1.7t2 Dec
3614 Dec
5958 Aug
113 Dec
85,1 Sep
518 Sep
8918 Aug
107 Aug
11038 Aug
'200 Apr
9712 Sep
41 Nov
13734 Aug
131 Nov
13258 Nov
9:710 J'ly
3238 Dec
97 Nov
5312 Nov
$5 Mch
2714 Nov
17 Nov
15214 Nov
17 Nov
425 Jan
33 Dec
102 Dec
42 Dec
2712 Dec
44e Apr
167 Dec
2012 Aug
80 Aug
4814 Oct
:834 Dec
94 Aug
89 Nov
16234 Dec
10912 J'ly
675s Nov
11014 Nov
9 May
2878 Dec
1314 Nov
65 Jan
3978 Dec
$414 Deo
52 Feb
694 Feb
08 Jan
102 Jan
712 Feb
,
.70 Feb
26 Feb
8713 Jan
50 Jan
4218 Mch
29 Apr
78 Nov
7134 Nov
la Dec
12012 Dec
1514 Dec
28214 Dec
1,2 Aug
10014 Nov
98 Nov
78 Nov
4014 Dec
80 Jan
812 Mai
3612 Feb
1714 Feb
69 Jan
147 Jan
12 Apr
112 Jan
2334 Feb
75 Jan
1434 Feb
03 J'ne
36 Jan
8712 Jan
$2512 Feb
45 Feb
4 Feb
448 Jan
10612 Dec
1453 Dec
50 Deo
46 Dec
10214 Dec
174 Nov
184 Dec
512 Dec
4914 Dec
103 Dec
29 Nov
8912 Nov
8134 Nov
11014 Dec
15214 Nov
1412 Dec
91% Nov
6834 Nov
1712 Feb
'Os Jan
/0 Feb
3614 Feb
4 Feb
16 Feb
1734 Feb
76 Feb
42 Feb
2534 Jan
8712 Jan
.20 Jan
16 Feb
r87 Jan
43 Jan
3 Aida
25 Apr
1250 Feb
41 Feb
38 Mel)
as Nfoi,
3078 Dec
7873 Aug
90 Jan
84 Nov
1514 Aug
39 Aug
3712 Aug
108 Dec
7512 Nov
5634 Nov
11458 Nov
15234 Nov
4534 Dec
115 Nov
18 Nov
1012 Nov
5012 Dec
225 Nov
7134 Nov
94 Nov
128 Nov
BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
IBA
Ask
Banks
Ask
Ask
Banks
Ask
B44
trust Co's B14
Trust Co's Bid
Trust Co's Bo
Ask
[rust Co's Bid
Ask
11 rook lyn
Brooklyn
Guar'ty
N Y CUy
NY LIfe&Tr 111 15 ....Brooklyn
_ . 800
105
Borough 11_ 90
North Side 11 150
..... Carnegie __ 1160 1105 GuardianTr__ . Brooklyn Tr 410
Ti 1611420
_ N Y Trust_ 870
425
Broadway '0 375
Peoplc's___, 155
__ Central Tr_ 1000 1050
Hudson .... 175
145
--.
-__ Standard Tr 380
-. Citizens' __ 138
Brooklyn %. -- 145
Prosp'ctP1(11 150
Au Columbia_. 290 300 linIckerbIkr 340 360 TItleGudc Tr 545 560
--- Flatbush __ '201) 225
285
____ rermlnal 11
Flrit
145 Law T IdaTr 225
235 'rr Coot Ani 345
230
355
---- 125 Commercial 135
Franklin __ 215
130
110
Union Il __ _ _ IOU
tlillsidell_
135
Com'wealth
145
105
Lincoln Tr_ 185
170
Union Trust 120) 1250
270
Hamilton
125
Horne Mill: 110
Emplre ___ 303 310
300
US Mtg &Tr 430
Manhattan. 370
440
Home _ __. 110
125
Homesteadl 100
Trust Co's
EquIt'ble Tt 470 480
715 740
Unit States_ 123)
Mercantile
. Kings do __ 500
930
N 1' GUY
hianulac'rs 419
11880
_Van Norden 235
315
Metroportn 530 550
Farm Lo&T
250
_- I. Isi L & Tr 310
Astor
325 340
Mechanics'% 240 250
206
Fidelity __ 202
535
Murton Tr_ 520
Washlngton 375
170
410
Nassau ___ 150
Montauk _. 195
- Bankers' Ti 6570
585
Fifth Av Tr 900
415
Mutual ____ 130
,,_,- Westchestet 130
___,.. People's_ 290
..
trway
Tr
27u
160
-_-.240
Nassau
155
Fulton ____ 270
__-- Mut Arno, 125
140
Windsor __ 133
120
110
140 Queens Co..O
Nat CI tv_ _ _ 295 305
___,
WillInmsb'z 190
•13Id and asked prices: no sales on this day. Less than 100 shares. EarIghts. b New stock. C Ex-dly. and rights. d Now quoted dollars per share.
Salo at Stock Exchange or at auction till; week. s Trust company certificates.
Banks marked with a paragraph CI! are State banks.
-'269
New York Stook Exchaage-Bond Record, Friday, Weekly and Yearly
Jan. 1 1999, the Eackange method of quoting bonds was changed, and pricss are now a7
,
7-"and intcrasl"-le3sp: lor in3sinc and defaulted bonds.
,
BONDS
N. Y.STOCK EXCHANGE
Wasik ElYniNn Nov 5
tt, 2
Price
Friday
Nov 5
Week's
Range or
Last Sale
!
Range
Since
Co January 1
BONDS
N. Y. STOCK EXCHANGE
W.ERIC ENDING NOV 5
Prtce
FrtrlaY
Nov 5
1.
1.
Week's
Range or
Last Sale
g!.1
.leange
Since
January 2
Bid
Btu
U. S. 4:overlllllent
Ask Low
ASV Low
High'No Low .High Cent of Oa It It-(Con)
High No Low II igh
U S 2s consul registered41930
100 100: 10034 10038 6 10038 1021
3d pref income g Is stampe.i. .. 80 Sale 70
/
4
80
10 51
80
U S '28 consol coupon
d1930
100 101 ,10014 Oct '99
(Matt liw pur men g 48.11131 J.i., 89
1001
/
4 103
9058 Sep '09
11058 90%
U 5 3s registered
/
4 102 '10114 1011
Mac & Nor Div 1st g 58.1946 J -J
k1918 4-F 1011
/
4 9 101 10358
10478J'ne08
U 3s coupon
/
4 1021
k1918 Q•F 1011
/
4 101: Sep 'Orl 81 10014 102:
Mid Oa & All his- Os. .1917 J -J 106%
115 Nov'05
U S 3s eon small bonds k1918 Q-F
1001
.Nov'08
Mobile Div 1st g 5s
'
1940 J..j 109:
1101
/
4 May'09 .... 11014 11014
U 84s registered
116
11534 116: 116
1920
35 110 11914/ Con 1111.8 Hot Cia col g Os 1937 NI.N 104:103 105 Sep '09. .104 10i;
U 48 coupon
'1 1714 117: 611714121 1 Cent ot NJ gen'l gold 58.1987 J -J 12014 123% 125,
1923
1104
6 i134 Id 105%
U S Pan Can 10-30 yr 2s.k1930 Q-N 9934 100¼t101 Mar'09
j
87
1 JQ.. J
Registered
1251
1
,
/
11/1 1011
4 125 Oct '09
9.2
123 12734
/
4'
Am Dock do Imp gu bs.4.
110 108 ky Det 'u9
1081411018
Ioteign Clovernment
Le tto kind It gen gu g 58 1920 J -J 101
96:Salo
98
Argentine-Internal 5s of 1909 11.
Leh (fo Wilks 11 Coal 58..1912 31-N
9814 45 93
.100 Oct'09
99:1007
99
. 1 911% 101
Imperial Japanese Uovermat
Con ext guar 4:s
11978
100
11‘,78
g1910 Q-3I
!
119,
4 100:
1925 F -A I 9334 Sale 9334
9334 77 9038 9534
Sterling loan 4¼s
N Y& Long 13r gen g 4s 1941 31-S 100
921
/
4
93
9218
1925 J.J
142: 34' 891
2d series 4:s
/
4 114: Cent Pacific bee So Pacific Co
86:Sal, 80: 80: 21 8004 88% CentVer mont 1st gutqs 611121) Q.F
1931 J -J
Sterling loan 4s
90: 89 Oct '09 ....I 8014 90:
104 10414 104 14
6 10134 104: Chins& say See Atl Coast Line
Repub ot Cuba Os exten debt.. 31. 116 13692
San Paulo(Brazil)53tr rects'19 J -J I 9512 Sale 921
102 sale 142
o
1)
02 t2 Solpr
95: Ches do Ohio gold 68
a1911 A-(i 105
. .J101:103:
9714 V% 071
/
4 Oct'00 .... 9714101:
U 5 ot Mexico a I g Os of 1899 Q-J
Gen funding dE impt 58.1929 J -J
242 DM:105
9/
1954 ,J-D
9314 Oct '01,
Goki 45 of 1904
Da consol g 5s
921
/
4 93
1
11
13
3 12 114
101,
3
01-2
1) 10 11314 117
31-4 I,c
1931) M-N
hese
ars
prices on the b (1843 0/ $5 to 2.
7'
....1 113 114 la
Registered
1
,
31)
Ni-N
State and City Securities
General gold 4128
1892 N1.8 10204 Salo 102% 1031
/
4 20'10'234 101.558
1924 F-A 106
110 Nov'08
Dist of Columbia 3•05s
102:
Registered
....1:100 105
J
95
10512 Dec'04
Louisiana new consol 48 1914
Big sandy 1st 4s
86 78 89 18
0
:
7
3 AP8
r"
8
01 871
/
4 01
New York CityCraig
PottsCri i c
siraelelikiyil3r
112 110 Mily'011 -.1107,2 110,11
8t1gat
994
4
49,
)
12)
4'
tis.
J
NII.
4.
3.11)
-1)
..;
1959 M.N 101 Sale 10014 10114 270, 99,
4% Corporate Stock
,101 12
t:0
,
1) ..
l ,o
99 ,... luliio
J tu
00
90
1958 M-N
10012 10034 471 100 103
4% Corporate 8tocic
it do A Div let con g 43..1989 J •J
99 101)12
/
4 110: 21 10814 112%
1957 31-N 110% Sale 1091
New 4 1,2s
2it cousol Ig 4s
1/0.4 97 Oct '09
11614 07
/
4 3
01 103 1047
1031
10314 103
1917 3I-N •
New 4:s
105
113 14 1,eb 81.5
. Warm Spr Val 1st g 53.189
j-j
941 M.
S
110 4 901 108%112:
Greenbrier By 1st gu g Is'40 41-111
9414 sale 9414
41e% Corporate Stock 19571M-N 1101884%1e 109
1 94(4 0414
9414
3 103 10478 01103•Sa Alt RR ref g 3s I949 A.0 7514 77
103
103
41a% assessna bouds... 1917 M•N 103
78 Oct '011 .••• 71'4 80
351
/
4
1011
1011
4
Salt.
1907
8
Corporate
Stock
4%
I 957 121-N
100 1031
Railway 1st lieu 310 1950 j-J
/
4
8 731
7334 Sale 731
/
4 77
/
4
73%
11334 J'ne'09
N Y State-Highway 45 1958
Registered
11234 113%
70 Oct '011
73
75
' J•J - - .
10214 Jan'09
1933 .1•4 101
So Carolina 4:820-41)
/
4 1.9/
1021
981
11570
/
4 10214 Chic Burl& Q-Denv 1)46 1922 F -A
1 11878 100%
9.
,34
Tenn new settlement 38 1913 J -J
Illinois Div 31213
9534
9534 Felf01.1
95: 9534
2, 89
1.3
91% 94
Virginia fund dent 2.38 1991 J -J
93 Aug'09
Itegudered............B41 j
91: 03
J.
UP's
-J
j
b9 ‘b Salt
%5
- b'
9
°''''8
1949 J.J 100% Slut 100: ec
5712Sale 48
Ss deferred Brown Bros °Us.
Ilia Div 48
101
87¼ 152 3714 57:
0101) 103%
Iowa Div sink fuud 58 1919 A-0 104
11M:Oct'09
10538 106
Railroad
SinkIng fund 48
100 oct '09
99,
4 10134
1919 A.0 9914
A iiioama Cent See So Ity
Nebraska Extension 46.1927 M.N
90% I OU
9958 Oct '09
99% 10214
a.laba Atall See At Coast Line
Registered
s
10118101,
10118 41ar'09
1927 M.1.1
Albany & Suso See Del& Hutt
Southwestern Div 46-.1921 31-S
9858 11938 Oil:sup '01)
96 1008*
Auegneuy Valley See Penn RR
Joint.bonds See Great North
Al-Leg do West See Bull It &
99 10134 10156 10134 4 1011210314
Debenture 55
11/13 NI-N
8138 17 81
81 Sale 81
41995 Q-J
Ann Arbor 1st g 4s
G
General 4s
9934 103 98 101
8734
14934 sale 98 4
1938 M-S
Atch T JE S Fe-Geu g 46.1995 A.-0 9976 salt 9076 10014 120 99%10178
102., Sep '09 -.1 102 103,
Han ,b 81J os cousol 66 1911 M-S 100
4
Registered
2 100
1995 A.0 98,
Ob 4
98
98% 101 14 Chic do II; Iiiref /8 imp g 4s 1955 J.J
/
4 Oct 'OJ
561
So
90
85
93:Salt 93: 11311
Adjustment g 48
, 13 92
h1995 Nov
1st oonsol g Os
1.5:
129
11 12
1934 A-0 127 13034 129
19t
2 .2 137
115N
931
/
4 9214 Feb'09
Registered
1411195 Nov
113
921
/
4 9214
General consol 1st bs
11
1937 31-N 113 bait 113
Stamped
sai
Sale
. 93: 937
13
9Z
.
/i11)95 M-N iii9
92: 95:
Registered
114 310'09
114 11414
1937 M-N
50 1121
11912 120
Sub recta couv 48
/
4 122
Chic tto Ind 0 Ry 1st 55 1930 J -J 112.4
'O1)
113%115
113',,
789
4
1223
Cony g 4s
1855 J-13 1221
/
4 Sale 121
102:123: Chicago & Erie bee Erie
/
4 447 10534 12336 Chic In do Louisv ref Os. .1947 J -j 128:
10-year cony g Os
11/17 J•Ji 122 Sale 12034 1221
128:Oct '09 ....I 127 129
9976 Sep '011
Debentures Ais Series11 1910 F-A
114
99%
114 Sep '09
99: 1197
. Refunding gold 56
11.1
Series K
98's
98 J'ly'09
1913 F-A
'GI. -.1101:10214
Douisv N A di Cli 1st tis.1
98: 98:
101% J
19
:)4
11)
7j
J--j
J
East Okla Div 1st g 48..1928 MS 96
11512 Allg'0.) ....' 93% 951
97: 9'1 Sep '01.
97
Chic Ind & Sou 50-yr 4s 11/56 J-J
99
/
4
'JO
93
Short Line 1st 4s g
94
04 Oct'09
1968 J -J
9334 981
1
b.
1004 bep
•
5/
/
4 Ohio Mil & St P term gbs 11/14J • J 103
10414 104
/
4 Oct'09
k u Pres da Pii Ist g 58 11142 11-8 109:111 1101
110:113
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41
103:
&tlKnox&N See L N
103:Oct '08
1
Registered
61989;Q-J
9338 Sale 9514
Atlantic Coast 1st g 4s.41952 51- S
93% S 9414 9034
General g 3:s series 13 61G81/1J-J
,Oct 'UV
41 s8,
1,234
S'J ,
88
109 Sep'09.. 109 111
Ala Mid 1st gu gold Os _1928 M-N 108
25-yr deben 413(w 1)
94
93: 94
03-1
/
4
23 93% 95
193111-J
Bruns & W 1st gu g 48 1938 J -J
9614J'ne'09
Ohm & L Su Div gbs
9614 1/4114
10818 Occ
1081
/
4 10904
19211J-J 30714
4
Charles & Sav 1st g 7s 193u J -J 132,
/
4
Ohio tt, Mo Ray Div Os 1926'J -J 1101
1110 ,4 Oct •Oli
/
4
11()% 1131
9012 Sale 89: 90:183 86
L & N Coll g 4s
011)52 41-N
Chic tto Pao Div Os
93:
101.4 101,*
191014 -J 1110 10134 1014 Pue'01/
Say If & W 1st gold 03..1934 A•O 127
108
127 J'ne'09 . 12't 127
1091
/
4
10811
Chia do P W lstg 58
/
4
Oct
4211
19211 J -J
108 11012
112
104
114 11212 J'ly
1st gold Os
1934 A-0
,104% A eg,',.)b
Dak & Ett So g 5s
11212 114
1916, J -J
10434 105.72
96
9714 J'ne'09
Sil Sp Oca & Li gu g 48 _1918 J -J
Far do Sou assu g Os
97
1137,-2.1.1y
9714
19241J -J 118:
&Rapti° & Dany See South Ry
Haat & 1)Div 1st 7s
j09' toO's 1' 10014 1023.,
1410J.J 1Gu
99:
Austin & N W bee Sou Pacific.,
1st Os
101 411009
101 101
1910, J -J
1/27
.Salt 0212
34 92
93
Dalt &Ohio prior 1g 3:8.1925 J -J
LaCrosse do 1) 1st 58- 1919:J -J 11111% 10834 107 Oct '01)
95
107 107
1001,Oct'09
9114 Oct'09
/
4
911
41925 Q-J
Mineral Point Div bs. _1910'J-J 100
9114 93
11./ Registered
100'I 10134
59
991
4
4
991
/
4 98,
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41948 A-0 1,9
98,
4 101%
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1410
5100 102
1910'J --I 1110 bale 100
99,
2 Oct'09 ... 98 10034
Registered
41.948 Q-J
Wis & Minn Div g5s
1US Oa 'OP ....1 11)81
/
4 110
19211 J-J 107 76
120 Oct '01
J -J 108
Pitts Juno lat gold
Mil do No let AI 14 6s
4 J'ly 09 ....1 10134 10170
111101J-D 100 10138'101,
88: 00
89 Oct,01)
PJund,Al Div lstg 3:8192- M•N
88
1st consol 6s
93
....1 10758 10734
11/13' 4-1) 105
110734 J
93 Sale 93
21 93
1.3
P L E W Va Sys ref 461941 31-N
Chile di Northw cons 7s
116
113
10 113 110:
191510-F 112:113:113
8974 Sale 8:178
8974 1 89
8otitilw Div 1st g 3las...1925 J -J
li
1u0"4 11.1078 Oct 'oil ....110113
Extension 4s
9174
.
102
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4192' Q-J
91 Apr'09
91
91
1 118):)'11"09
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111134 101
103 J'ne'09
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1/() bale 804
103 103
General gold 3las 11888886:11111
008 43 8934 943
3
11...N
AA
998
227
86 '
A-0
11311
1933
con
Lor&
'09
113
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...
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1st g
01
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931
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1/3 I* 03%
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10578 Feb'071 .
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112 Aug'011
112 112
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/
4
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1 11,0340eL '09
1879-1929'A-0 1111
10U4 101434
1937 A-0
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112 I 9 108:112
112
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108 110.*
Pitts(Bev &Tol 1st g tis 1022 A-0 11034
1 i912 Mar'04
/
4
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111011,Jan'09
1879-1920 A-0 *1081
110% 11034
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9812 Sep '011.
110 13
91
.
4. 981
10014 101
100 'ne'011
; Debenture 5s
11)0.1 M-N
100 Nov'04
Stet 181 By 1st gu g 4'as 1943 J-1)
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1003441ayi111 ...• W08610058
1009 31-N
Beech Creek bee IS Y C & Ii
Debenture 5s
1107:Sep'09
1921'A-0 101i
107 10914
Bellev & Car Nee Illinois Cent
Registered
1103 9'ut'07
1921'A-0
Bklyu di biontauk bee Long 1
Sinking fund deb 5s
1109 out '0;)
1101) 1131
1933 M-N 109
/
4
Bruns & West See Atl Coast L
Registered
110 1109 J 'iy'08
1933 M-N *
Buffalo N Y & Erie bee Erie
Nor Illinois 1st Os. .1910 M-8 9914101 101 Apr'011
101 lulls
10
57
,89 11834 Aug'09
Bullet° It P gen g 5s...1937 31-8 114:11
116: 11738
Mil L 8 do West 1st g 6a 1921 M-8 1164 111).. 1171y OtA. '011
11714 119%
Congo!4:8
1957 M-N
11018 J'ly'09. 109 110/
1113 Aug'09
Ext do liup 8fund gbas 1929 F -A 111%
1
4
113 115
All do West 1st g 43 gu..11198 A-0 1190
100 Oct '011.... 100 1001
1142:Fe P'02
/
4
Ashland Div lst g Os..11125 M-S 120:
111'24'.1. J1 11918 123:112318 Apr'01)
CI di Mali 1st u g 56.-1143 J -J *11578
103 J'ly'08 .
Mich Div 1st g 63
12204 123:
Rot% tt, Pitts 1st g bs....1921 F•A 11744
11734 Oct '1.111
117a4 119 1
103: 103:
Incomes
Cousol 1st g (is
120 1204 Aug'09
1922 J-0
Mg
18
"
17
:011
8%4 1110
12
1-3,1:0
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--114 1Y.11.34 1120411°
J;
19
817
1M
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8934 May'09 .
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Registered
113:113 12
11)17 J -J 1111u
Bur (1 It do N Bee C
I P
General gold 48
1988.1
' -.7
9L,)
L
09ii 09
v9'. 13 98 101:
/
4 Sale 104
elan Sole;ext Os ......1913 J-J 1011
104: 4 104 107
99 Aug'09 .... 91) 100:
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1988 J -J
0.
t.)241 bs
.1913 M-8 11/0: Sale 1U0' 100: 4100¼103
1%
9.
5 sale
t,034 442 89 14 94
LIU
Refunding g 4s
Registered
1913 WS
97 J'ly '04
Coll trust Serie/111 4s. 19
10034 AlaY'07
91
34
1/ MA.
-N
;°
Cub & Shawn bee 111 Cent
J 4s
97 J'ne'01) .... 97
/
4
1912 M-N! 971
1)7
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11478 Aug'01) ....I 94: 9476
AI ss
101
1)15
7M
m.
-N
17!I 1/416
Carthage do Ad See N V CdE II
/
4
11 4s
I
9334 94 1*
1916 IVI.NI 941
Ced Ia 8' N klee130It &INT
9318
046
I Igila Aug'01)....I 9344 95
Con Branca By See Mo Pao
P 48
93:Aug'01)....I 93: 93:
1918 M-N 1 9314 95
'3i)353 75: 821
Cent of Ga RH 1st g Os..p1045 F-A
11812 Ireb'09
115 118%
7 I '.1 Sale 1 71'4
Chic R I tt, Pao RR 48 2002 4I-N
/
4
Oonsol gold 5s
109 1 6 108%111%
1945 M-N 1091g 11/111
/
4 109
Registered
80 J'ly '011 ....1 EU
80
200231 N
Registered
1945 51-14
113 Apr'06
92
Coll trust gold 56
dale
Di
9214 26S 87 12 94:
1913 11-9
pref
Income
g 58....p11/45 Oct 1 62
1st
83: a6: 42 79
1)(178
Bur Ced It & NorthernStamped
86 1 2 80
85
90
' 83
Con 1st & col trg 5s...1931 A•0 113 115 115 May'00
115 117
2u pret income g ba....p1945 Oct 1 81 Sal* 72
81 I 84 63
84
Registered
1934 A-0
1211:Mar'113
2ilptet income g 5s stamped
801
/
4 27, 80
75
84
82
81
()RIF& N W 1st gu 68.1921 A-0 100
111 Nov'03
30 pret Income g bs....p1945 Oct 1 79 Bale 71
80 .100 63
80
M & St List gu g 7s..1927 .1 -1)
-•
.
•
.
.
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.
••••
1
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.
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••••
I
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.
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•
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--
...
1111SCELLANEOUS_1102_i DS-Continued on Next Page.
Street Railway
Street Hallway
Brooklyn Bap Tr g bs
1945 A.-0 1041/4
106% Oct'09 .... 10211108
Met St Ry gen eel tr g 53.1
29
00
92
7r
A t ...... 81 . 79 Oct'09
1st refund cony g 4s....2002 J-J
8518 91 81'2 89:
85 Sale 86
Ref g 4s
48 J'iy 'Ull
7
48
3 12 5
932%
Bk City 1st con 53.1916.1941 J -J 103
10314 10314 6 10212105
/Sway& 7thAv lstog 581943 J -D 1011
/
4 iide 11.)1 1a 101: 2 101:105:
BkLI Co di1:3 con gu g 56.1941 M-N
991g 1)9 12 Mar'09 .... 99,
90
2 191,9
Col& 9tli Av 1st gu g 68.111113 5I-S
1
4,2
02/
5,4 17
01
0
1.0
10034 1.00 Pue'01)
Bklyn Un El let g 4.58.1950 F-A 10214103141181 Oct
'099
34%1
'09 .... 10034 106
8062
Lex Av& P Flat gu g 58 1993 Xl•S
:
94 Oct'09
Stamped guar 4-5s....1950 F-A 103 106 102.6 Oct '09 ...... tiais 12,,,,,,
Third Ave RR eon gu 48 2000 J•J
051
6614
ii
4
Salt
051
/
4
Kluge Co El lat g 4s....1949 11.- A
80
87
8744.7'44M • •
Cent Tr Co certfs stuipti...
66 dale "
Stamped guar 4s
6
1949 F-A
66
8678
871
V 85
/
4 867s
88
Third Ave Ry 1st g 58..1937 r--J.
8
'011 56 11)
110 44 107:Oct
11g24
Nassau Elec g-u g 48....11)61 J -J
78: 81
80
80 Oct
N Orl fly cts Lt gen 4:s .1935 J.J
Conn Ey& Llst& ref g 4las'51 J -J 102%
'2 102 10212 St Jos RyLt IL ec P lstg 56'37 11-N
102: 11/2 I.
9
Octcoty:08
.N
O
8
1)
8
il
10
8
0
7
Stamped guar 4123
1951 J -J
10136 10204 81 Paul City cab con g ps..1937 J•J
102: 102% Oct '011
10
, 110: Ney'llti
19
Del United 1st con g 4:8.1032 J -J
83:Oct '09 ... 81 1.4 83
84
Tri-City Ity & IA 1st a I 56.1923 A.0 97
99 Ply'09
Havana Eleo consol g 53.1902 F•A
11158 ...... 921
is
iig 14 Underground
at Lou 58...1
62
/
4 Oct'
09 _.., 2p
194
u2(81 JUN
l
1/8 Apr8/9 .::: a
)
18
1)
Inter-Met colt 4 las
1930 A-0 1.3 Salt 8234
83",, 73b
81
22 73: 851
1933 J -J
81
/
4
8134 83
Inter Rap T 3-yr cony 0.11111 NUN 10278 Sale 10289 103
25 102561043
. Income Os
100'..
81) 59 22
3
834
11 ,200cett3;
31 14 Sale 8
371
/
4
43-year 5s S.:ries A
1932 31 N 102% salt 1021
Union El(Chic) 1st g Os..11)15 AIU
/
4 10A
.
Interuat'Trac coil tr 43 1949 J • J
.
3 1?)2
1 1!
721
/
4 70 Sop '01) 3
)
R united Rya St L lot g 48.1034 J • J
Mande Eleo 1st & colt 58.1953 4I-S
98 Alsy'06
United RRs San Fr 8 f 48.1927 A•() 76 Sal. 70
76 --i VI
Hos
---- ---- - --- - -- --- - - --- --- ---- *No price Friday; latest this week. 11Flat.
aDtie Jan d Due Apr e Due :day g Dlle rue 4Due 3'ly kllue N.ug *Due Got ji, Das Nov $ Option Sale
'4
Nov. 6 1909.1
BONDS
N. Y.STOCK EXCHANGE
WEEK ENDINO Nov 5
Chic Rock I 84 Pac,-((on)
Moe Ok (So 0 gen g Is .01919 J -J
Consol gold 54
1952 M-N
Keok & Dee M 1st 5s
11123 A-0
Chic St L & N 0 Sec 111 Cent
Chic St L & Pitts see Penn Co
Chic St P M & U con 6s 11/3)) J
Cons 68 reduced to 348 11/31) .1.1)
Ch St P & Muni 1st g Us 11/18 M-N
Nor Wisconsin 1st 138 11/30 J-1
St P & S City 1st g 63-1919 A-0
Chic& Weet Ind gen g Lis q11.1;;-2
1952.
Consol 50-year 43
Clue & W Mich See Pere Marq
Choc 0& huhl See C It I & P
(nu it & I/ 20 gold 4 43 1937 J J
Ulu D & I 1st gu g 6s 1941 M-N
() Find & Ft W 1st gu 4s g•'23 M-N
()in I & W 1st au 1 45.1953 J -J
Ind Dec & W 1st g 5s 1935 J -J
1935 J -J
let guar gold 58
CIStL&C See (1 11 & St 1,
Cin & C See C C St L
Clearfield & Mali Nee IS R &
Clev Cin C & St L gen g 48199:3 J • i
Cairo Div 1st gold 4s., 1930 J -J
010 W & Ai Div 1st g 43 111111 J -J
St L Div 1st col tr g48-111119 M -N
Registered
19110 NI-N
Spr & Col Div 1st g 4s 1940 NI-S
W W Val Div let g 4s 1941) J -J
0 1 St L& C consol 68 1920 IVI-N
let gold 43
/r1936 Q•11
/r19136 Q F
Registered
)JinS & CI con let g 58..1928 .1-J
1914 3.1)
0 C& I consol 7s
1914 J -D
Consol sink fund 78
General consul gold 68 1934 J.J
1934 3-3
Registered
Ind DI& W 1st pret 43 1:140 A-0
U Ind lo W 1st 10 5s...0111:38 Q•J
Peo & East 1st con 48 11140 A.0
1930 Aiii
Income Is
Ulev & Marietta see Penn Ric
Clev & Pitts Dee Penn Co
1947 J
Col Midland 1st g 48
Colorad) cts Sou let g 48 1921) F •A
1935 M.N
/
2s
Refund & ext 41
JftW&Den0lstg6s 1921 J •D
Colum & (ireenv 844 So By
Col & Hock Val See Hock Val
Col & Tot See Hock Val
Col Conn & Term See N 415W
Conn (.45 Pas Rive let g 48.1943 A •0
1932 J -J
Cuba RR 1st 50-yr 5
ak & (it So see (.1 g..80 St 1'
K&
alias & Waco See
Del Lack & WesternMorris& Essex let 7e 1914 M-N
1915 J-D
1st consol guar 75
Registered
1915 J -ll
2000 J -D
let ref go g 34s
N Y Lack & W 1st 6s 1921 J -J
1923 F-A
Construction 6s
1023
Term & improve 4s
Warren 1st ref gu g 346 2000 F-A
Del & Hutt 1st Pa Div 75 1917'Al-S
Registered
1')170.1-S
10-yr cony deb 48
11116 3.1)
1st lieu equip g 4,2s
J -J
met &ref 4s
1913 M-N
Alb & Sus cony 34s
1946 A-0
Kens & Saratoga let 78 1921.M-2,i
Uel Ely RR Bridge Dee Pa 11.111
Deny & It Ur 1st con g 48.1936; 3-4
Consol gold 412s
11136; J -J
Improvement gold 5s 1928: 3 -I)
1955 F-A
1st & refunding Is
11130
J -D
Rio Cr June 1st gu g 5:3
1940J -J
Rio gr So 1st gold 4s
1940;1 J
Guaranteed
Rio or West let g
M ge and col trust 4sA.1049'A-0
Utah(Antletgu g 4s a1917 A-0
Oes Mtn & Ft I/ Nee M st
Des blot Un By let g 63 1917 11-N
Uet 85 Mack let lien g 413 19115 3.1)
1905 J-D
Gold 4s
Detroit SouthernOhio Sou Div let g 4/3 1941
Dui & Iron Range let 58-1037 A-0
1937 A-0
Registered
1016 J-J
2.1 138
Dul Short Line Des Nor Pao
Out So Shore & ALL g 58 1937 J -J
L'afit of. blinn S'ee StP do IQ
1:/ast Ten Vs & (ia See So By
Elgin ol & East lat g 513 1941 IM•N
Elm Cort & No Dee Leh& N
11147 M-N
Erie let ex t old 45
1919 bl-S
21 eat gold Is
1923 WS
8d ext gold 44e
Mt/ A-0
4th ext gobu 58
1928 3-D
5th ext gold 48
1920 Al-S
let oonsol gold Is
1920 1.1-S
1st consol g fund 78
Erie 1st con g 4e prior 11196
Registered
1096 J -J
let cense' gen thong 419_1996 J -J
Registered
11)96 J -J
Penn colt tr g 45
1051 F -A
50-year cony 45 A
1963 A-0
do
Series 13 1'J53 A-0
Bull N Y& Erie let 75-11116 3-B
Chic & Erie 1st gold 58 1982 M-N
Clev & Mahon Val g 50 1038 3-J
Long Dock consol g 65_1935 A-0
Coal& RR let cur gu 60.11122 M-N
Dock & Imp let cur 68-1913 J.J
I)
New /ork Bond Iteoord-Continued--:-Page 2
Price
Fridau
Nov 5
Week's
Range or
Last Sale
BONDS
Range I
Since
N.Y. STOCK EXCHANGE
c;as" January 1,
WEEK ENDINO Nov 5
Price
Fri'
,ay
Ncy 5
1207
1- 1
Week's
iz! Range
Range or S-g.:
Since
:
Last Sale :ZI
January 1
High No Low High Erie-(Con)
43/ how
H iota No, Low High
Dia
Ask Low
102 Aug'08
108 MarIOU
108 108
N 7 A4 Green L an a 53.19461111-N 105
ill 4Aug'09 .... 111 1114
105 14 1074
NY Sue & \V 1st ref 58.1937 3-3 104 10634 101 Sep '00
105 Oct '09 .... 103 105
103
1004 Dee.'0.;
2.1 gold 44,3
1937 F -A
8zi 4 Oct '09
8918 92
General gold 5s
1'
88
1140 F-A
1111
/
2 in.-c•116
Terminal 1st gold 5s....194:31A-N 112
4 1274Oct '09 -•-• 127 1307e
127127
4
Iters 05.000 each 1943 M-N
93 Dec'03 ••••
92
/
2 1 1001
Mid Mar NJ lstg(33.1910 A-0 1004
100 Lt. 1001
/
2
/
2 1021
1281
/
2 Sop '00 •••• 1284 1204
11 ilk & Ea 1st au g os 1912 3-D 105 42 Salt 105
1055 2 101 1054
128%
129% May')))' •.... 129%12988' Ev& Ind lateen gu g 68 1926 J -J
1.26
114 Oct '00 -.1 1094115
114 4 Oct'09 -... 114 119 I Erie& Pitts Dee Penn Co
1144
111 1121
/
2 1124 0,t'09 .... 112 1125 Evans & T II 1st cons 63.1921 J - J 112 115 113 Oct '09 ....h112 1154
93
94
94 Oct'09 ....' 94
1)8 ii let general gold 59
1942,A-0 93 102-. 1935 Aug 01.
103 1041
/
2
1 1 Mt Vernon 1st gold 68 19231A-0
1
lui) 114 Apr'05
! Sufi Co Branch let g 53.1930 A-0
95 J'ne•06
113 Oct,'00 .,.
101
.11,4`argo & So Nee Cli 2.1 & St P
13,1 95 109'v i I- lint& Pere Al See Pere Mar
108 Sale 10634 108
Fla C& Pemn See Sea Air Line
•••• ,
90
70 A ug'08
'• Fort St U D Co 1st g 448.1941 J -J
105 blar'96
881
/
2
994 Jan '09 -.1 ill's 964 Ft W & Rio Or 1st g 4s...1928 T J
104 10(3
11 85
88
88
88 sale 874
1071
/
2Deo'02 ....- 1......
'I i 1 st Har & SA SeeSo Pace°
i klial H & 11 of 188218t 53.1913 A-0
27 J'ly'09 .... 97
99
(I core ia & Ala See Sea A Line
Ga Car & Nor Dee sea A Line
08
1 974 994 Georgia Pacific See So fly
98
985 98
9412 Aug'09 ....1 1145 97
91',,
Ulla V G & Nor Dee So Pan Co
95 1 Gouv & Oswegat See N Y Cent
91 Sep '00 ....! 94
951
/
2 1 1 05
951
/
2
11734 , Grand Rap & Ind See Penn RR
95'i
ill Oct '07 ....!......
i Gray's Pt Term Dee St L 8 W
964 sale
92 Fob -118 ---.!
1 Gt Nor-C 13& Q coll tr 4s 1921 J -J
96
1'568
903830(3 555 995
08 Sep '06'....',..
.
..
I
93
05%
11334 10 954 90
Registered.4
1'121 Q-J
105
106 Apr'OU ..._, 106 106 I
1007e J'ne'Oi ....., 11)04104
St Paul 11 & Mn iii 68.1909A-O,
1195 3 9812100
1st cousol gold Us
11'34. Sale 99 1.2
1933 .7- 41 12' 130 130 Oct '09 ....' 130 132%
96 12,
118 Aug'09 - --. 118
132 Apr'09 ...., 132 132
984
Registered
1933;J-4
10918 stip ,ou .... 11/94 109'v
1094
Reduced to gold 4 4s 1933!J -J 10751075108 Sep '09 ....1 107.1, I 1 1
111 12•Ply'09 .... 111,2 11112 109
,108% J'ne 01/ ....' 108% 10634
Registerea
1933 J-4
Dakota ext gold 6s....1910 M-N
1015 101%(Jet 'old _4101%1(131
/
2
125
1 125 125 I
Shout ext 1st gold 4s 19;5713-D
993„ 100
125
100
123
21 9812101
Registered
1001
/
2 Oct'06
..
11
1937 J-1)
•
E
J'Iy'08'....
981
4 Oct '09 .. '' i/-04 1014
94
MInnNorDivIst g 481946' A •0 9634
.
&nun Union lst g 69..1922 J • J ; 117
1124 Alay'03 -II
93
01
924
1130 Oct '09 ..... 130 1325
Wont C let tru g 63.-1937 J - J . 129
1)25 .....L 961
/
2
93
7
63
63
62
11364 ,isv'06'
63
Registered
'
1937 .7-4 '
113'suet 'uir....1113 4 117
1st guar gold Is
1937 4 -4 , 113%
116 J'ne'00 -.1 116 116%
Will & S V 1st gold 58 1938 4-D 113's
811
/
2 :32 80
81 12 Sale 804
87 12 Greenbrier Ey See Ches & 0
9714 07/
1
2 9714
974 111 97
954 951
99
/
2Oct'09 ....I 95
974
Gulf & S I letret& tg 55 b1952 J -J
98
80 imp. 1008 ' LI an & St Jo See (1 B &
I/8 Sale 9738
Q
114 11434 114 Oct '1111 •-.. 114 117/
1
2 AIousatome Dec 14 Y N ft& II
/
2 Sale 1035 1035 6, 1031
Hock Val latconsol g448.19991J - J 1031
/
2109
101/12 Sep'06
Registered
19991 j-4
98.4 May'013 .---i 1 1/818 98.
Col & II V let ext g 48..1948 A-0 984
Col & Tot let ex 4s
97
N9
99;L Feb409 ----1 97
9914
4
1955 F-A
•-- ......
Roust E A, W Tex Dee So Pac
101
95
95 Jan'09.... 115
Roust& Tex Cen See So Pac Co
I
I Ilium Central 1st g 43..1051 J -J 104.8 Sale 101% 104% 18 103510436
1107% Au:'07
1- Registered
1051 J -J'
1
1
00 Sep 'Oil .... 894 944
let gold 312s
1951 J -J ,
112 1121
/
2 1134 Ply'01/.... 1135114's
Itegisf.ered
04 SeP '09 ...., 94
94
113 1151211440et '09 .... 1144117%
1/3 4 May'0111 .. , 934 9434
..(j1' "
Extended let g 3)23
it.
1.21'
.
127 J'ne'05
80 J'13-'09......1 80
let gold 3s sterling
19511
m-S
SU
8,elipe:00
0 j
94 Sop'00:-.' 93% 0U' 1 Coll Trust gold 4s
111:......, 110114
19521A-u, 10()L 102 1110,2
04 19
09
24
118 Oct 'WY..., 11718121 I
1175
1952 A-0
Registered
..
110 Sale 110
110 I 2 110 112%
1st ref 48
934 1/3 4' 994, "9
11.155M -N
'
4
1904
10U 11 Oct '09 ....!1 997810078
'It/020U '09 ...!, ;
I, N 0& Tex gold 4s ...1953.
98 21
11-N 100%
1°
L)1
161
:
'
113
1024 Fel.P03 ....'
1953 M-N ,
Registered
1)10 1 11? -‘1,0"071
119 1-20 120 Sep'09 .... 120 122 1 Cairo Bridge gold 43
102 ,10i.) Apr'09'....I 995100
1950 J01
149 Aug'Or
' 1.omsvD1v&Term g3 43.1953
, 83341 2'
89% sale I 893
92
.1 88'2
10178 Sale 10178 102 I 23 100 1075
123 blay'1.19,
Middle Div reg bs
1921 F- A! 105
, 79 Apr'00
'; 79
1034 102% 10234; 1 1011
/
2103%
79
Omaha Div let g 3s ' 1051 If-A,
1 795 Dec'08 ...'''
101 Sale 11004 101 1 6 1005103 1 St Louis DivAsterna g3e.1951 J.J1
,Oct'LW
1011
/
2 101 1.
97 107
Registered
'79 I
1951 J -J '
128
128 vet,'uu .. 128 1285
Gold 34s
90 1 90 Oct '09 ....'1 90
1961 J.J
001
/
2
.'I
8838 1014 Oct '1111
Registered
1951 3.J I
964 sate I 964
',
9641 7, 1)6
'100 Nov'00
981
/
2
Spring Div 1st g 34s...1951 3-1
104
'104 J'ne'011 . 103 106 I
Western Lines lat g 48..1951 F-A
101.) 11(0/34 blay'u9 ..... 1004 100%
102%
1(14 Sep '00 ... 101% 104 -, Holley & Car let 6s
'121 Feb'00 ....; 121 121
1923 3-1) 1194
1,34 Sale 935
93%' el 025 964 . Carb & Shaw 1st g 48 1932 M-8
' 1,618Oct '09....t 064 98
95
1
2 Oct '011....' 118.4 120
US Feb'08'
111)/
1 Chic St L & N 0 g 6s...11/51 3.1) 117%
' 73
70
78 J'ne'09
80 1
Registered
1951 .1-1) 11(3 118 1116.4 J'ne'110....' 11834119
85 Mar'08
'
;
Go 134s
1 1.10 Oct'09 ....' 110
110
1951 J-1).
051
/
2 1)55 Oct'09
'' 11134 1004'
hlemph Div let g 4s. .1951 .1 -D.
100 Mar 08. I
.
831
/
2
634' 3 83
84
87 I St L Sou let vu g 4s. .1931 NI-s
1 118 J'Iy"U8'. 'I.
90
95
1)7 Jan'i2
In2 11134 West See CC(/*A3 St L
1
II
I
',
I Jul Ill & Ia 1st g 43
,
9841 97,2 Oct '09....,1 96
984
1030 J-J
110 Sep '04'
'
110 Oct'09..... 109 112
' Int & Great Nor 1st g 6s..19111 31•N 110
951
/
2 Oct '1/1...., 93
10038 Aug'09..... 85 1035
95
21 gold 5s
1909 37-s
1/1
94
92 Ply'(11.1....I 88
112
1064 Sale 1034 1(164 22: 861
Trust Co certfs.
/
2108
1921 2.1-S
30
4.0
48 J'ne'09 ....1 48
50
3d gold 48
11
73
90
105 12 Aug'01,....' 105/
703
,Sep '09I.....
70
82 .Iowa Central 1st gold bs 11138 31) 106
1
21114
110
1951
MS
1114Pue'00' ...- 1111
/
2 116
77
2 743
. 82
Gold 48
77
71
76
1094 blat'Ob'
"
A & G kt, Bee LS&A.1.
tan 34 Mich See Tol J4 0(J
KCFtb&SI
NeeStL&SE
I
II110 1105 li 0& M
110
110 Oct.'09,-.
It 86 B See St L & S F
Kan (3 & Pacific See Al K & T
2 71% 754
7334
Ran City Sou let gold 38..1050 A-0 73% Sale 7278
112
113 Oct'00 .... 1125 115 I Registered
03 Oct '00. .
1.150 A-0
1 Ref & impt Is(w i) Apr 1936 .... 10034 Sale 1004 100% 118 1005101%
10034
I 901
/
2 M iiv'08I
II
• 1 .1( entucxy Cent ace L. oc N
/
2 Oct '09 ,..; 1051
1055 1034 1061
/
2106% 'Reek & DOS MO See C it IS,P
103 4 .
II
1045 11145 1 1045 106 I! Knoxville cfa 01110 See So l's107 's Aug'09 .... 106 1074'11 alto Erie & W let g 5s..11137 J -J 114 11478 114 Oct'09.... 112%1154
106%
991
/
2
I 07 Jan -09
', 97
97 ;, I•A 2.1 gold Is
107% uct'101,.... 107 1001
1941 J -.1 '
/
2
1224 sale 1221
/
2 1224 3 121% 1255 ; North Ohio let go g 68..1945 A-0
1145 113% 113.4' 2 1121
/
21114
121 i124. Aug'09 .... 122 134 1L Sho 8, Mich 8 See N Y Cent1
1
•
84 tale I 81
91 !Leh Val N Y let gu g41213.1940 J • J 1065 107 108 Sep '08i....1 1064
845 11, 82
10,04
83
83
21 83
861
/
2, Registered
1940 J.J
107 11/7 Aug'01/...,' 107 107
97 I 974
754 Sale I 7514
971
754
; 131 601
/
2 80 IILehigh Val(Pa)cons g 46.2003
/
2 2 ; u7
38
I 85/
1
2 FelP07
"
Leh V Ter Ry let gu g5s.1941 A-0 *
1154 inki oct 'OU....1116,
411b34
,1
81 12 2 , 755 90 1' Registered •
/
2 Salt 814
.1134 10912(Jet '09
811
A-0
1941
82 1 2i I 93
894 il Leh V Coal Co 1st gu g 58.1033 J '
8012 Salt 80-,
109 106% Sep '09 ....' 108% 109
cl%
724 (32 3/ 4 80 ',Leh & N Y 1st guar g4s..11/45
WI I 11634 Sep 'W..'. ...., 96
97
71% 6aie
115%1174 11618 Aug'09 .... 115 1165
Registered
1945 NI-S
1134Jan'06
115 11678J'ly'09
• 1134 117/
1
2
,
El C & N let 1.16.3
1914 A-0 102%
10114 sep
'1
.... 101141014
121 Dee'08
Gold guar 58
1914 A-0 1014
112
1261
/
2Oct 'OU .... 126 1281
/
2 ' Leh & Ilud R See Cent of N J
125
113 114 J'ne'09 .... 11212 120 1 Leh & Wilkesb See Cent of NJ
I
11
105 1034 Oct'09 .... 1034 110 {Leroy & Caney Val See Mo P
Hoc
10438
111
I
MISCELLANEOUS UONDS-Continued on Next Page.
Gas and Electric, Light
Atlanta L Co 1st g 5s...1947 J -D
Bklyn ((Gas let con g 53 1945 vl-N
'Maio Gas let g 63
11/17 5-0
Columbus Gas let g 55.-1932
1923 3-3
Detroit City Lim g bs
DIA Gas(30 000 let g be 1916 F -A
EqU Lk( Y 1st con g 63 1932 v1-8
Gas& Bloc Berge°c g58 1949 J
Or Rap (I L Co 1st g bs 1915 F -A
Hudson Co Gas 1st g os 1941/
Kan City(111o)Gas 1st g 681922 A-0
Kings Co El la & g 5s 1937 A-0
49117 A-0
Purchase money(is
Ed El 11 13ku bacon g 48 1930 J.J
Lac OasLotklt L lat g 68.61910 Q•F
1934 A•
Ref and ext let g 6s
Milwaukee Gas L 1st 43 1927 VI-N
1.94 .T.D
Newark Con Gas g 6s
103
1075109's 107
67
68
68
Oct'09
Oct '09
1014 (Jet 'Oli
9514Sep '116
96 Mar'06
611
/
2Oct '01
101 100 Oct'00
10441041
/
2 105 J'ly'09
100 IOU May-09
102% 10 4Sep '00
112 123 117 A ug
'1
86 Sep 4./b
102.4 104 103 Oct '.,11
10034 Sale 10034 100'4
'31
1/0 4 Oct 'LW
1(18%
1014102
100 102
8No price Friday; latest bid and asked this 'Week.a Due Jan
Gan and Electric Light
N YO ELH& P g 5s...1948 J-D
Purchase money g 419...194.9 F-A
Ed El Ill let cony /c ba..1910 M-S
1995 -4
1st °onset gold 38
NY&QE1L&P let con g 531931/ F-A
11-N
N V & Rich Gas 1st g 65 1921 ,,
1949 M.8
Pat & Pesti & E con g
Peo Gas & C 1st con g 623.1M
Refunding gold bs
Ch14-L&Ckeletgugba 1937 J.J
Con Coof Ch 1st gug is.'36 J -D
Ind Nat Gas& 01130-yi 33'36 3/1.N
bin Incluse 1st gug 5.3.1947 .11-N
Syracuse Lighting let g 33.'51 3-1)
1 renton & El 1st g 38-11.149 .9%-a
Union Elec
P ist g 58.11132
S
Utica El L& P 1st at g 53.1950 3-3
Westchester Light'g g 68.1950 J-D
102 Sale 102
/
21044
10214
7 1001
831
/
2sale 8312
/
2
84
26 834 861
100 10078
1110.4 IOU Sep'09
110 112
110 1105 110 Oct '011
984
117
10051024
955 May'09
......
1,712 975
07's J'ly'LW
100
1043 Nov'05
1(1292).2 1205 120 Oct WU
119 121
IOU 100
102,
1024 Oct '00
4101
/
2
103 1041
105 105
104 105 104 Oct '09
102 103 1024 1024 1 101%103
100 100
1015104's
944
86%
944 Aug'01,
110
101%111134
110 118
1013 Ply '01.1
1011
/
2
1)94 11)1
/
2
9912 J'ne•09
100
10234105
110 May'05
96 Jan'US
1 100 1014
100
905 921,,
103
1025 10211
......
105 1024 Mar'09
b Due Feb ciDue Apr e Due May h Duo J'ly k Duo Aug o Due Oct g Das Dec S Option $8.14
107 108
60
74
New York Bond Record- Continudd.---Page
1208
BONDS
N. Y. STOCK EXCHANGE
‘
.
1 kick ENnvie NOV 5
.t1
16
t
Long Dock See Erie
Long Isl'd-lst con g 5s.h1931 Q-J
h1931 q.i
1st consol gold 4s
1938 -D
General gold 48
1922 M-S
Ferry gold 412.3
1932 J-D
Gold 4s
1949 M'Unified gold 48
1934 J-D
Debenture gold 58
Guar ref gold 4s....
1949 IVI-S
19111M-S
Bklyn & Mont 1st g 6s
1st 5s
19111 M-3
N I B&M Blstcon g 5819351 A 0
N I & It 13 1st g 55
1927 M-8
Nor Sit 131st con g gu5s01932 Q-J
Louisiana & Ark 1st g 58.1927 M.S
LJuisv As Nashv gen g 63.1930 J-D
Gold 5s
1937 M-N
Unified gold 48
1940 J-J
1940 J -J
Registered
1910 A-0
Sink fund gold 6s
1931 M-N
Coll trust gold 5s
E H & Nash 1st g 6s
1919 -1
L Cin & Lex.gold 4153 1931 MN
1930 J
N 0 & M 1st gold 6s
1930 J
N 0 & M 2,1 gold 6s
Pensacola Div gold es 1920 M-3
19211M-3
St L Div 1st gold Os
198(1 M-S
•
2.1 gold 33
Atl Knox & Cm div 4s 1955 M-N
ALI KOOK& Nor 1st g 581941, J -D
Mender Bdge lets f g 66.1931 M-S
Kentucky Cent gold 43 1987 J -J
L&S&M&M lstg415s 1945 M-8
L& N-south M ioint 46.1952 J.J
N Yin & 3 1st gu. g 5s 1937 10-A
N&C 130ge gen gu e4'-211945 J -J
Pens & Atl 1st gu g 68 1921 F-A
8 & N Ala con gu g 55-1936 F-A
L & Jeff 13dge Co gu g 45 1945 M-3
N A&Ch Bee 0 1 & L
VI shop Coal See L S & M
ivlanhattan fly consol48 1990 A-0
Registered
1990 A-0
Stmial tax exempt 1990 A-0
kfolVIst. & B V See N I Cent
Mex Cent cons g 4s.
1911
a1939 J'ly
let cons Inc g 3s
20 cons inc g 38 trust roots.
hex I nternat 1st con g 48.1977 M-S
Stamped guaranteed .1977 M-13
Hex North 1st gold Os....1910 J -D
Michi Cent See N Y Cent
Mid ot N J Nee Erie
MiILS& W See Ciao & N W
Mil & North b'ee Cli M & St P
Minn & St L 1st gold 73..1927 J-D
Pacific Ex 1st gold 6s...19'21 A-0
South West Ex 1st g 78 1910 J -D
1st consol gold 58
1934 M-N
1st and refund gold 43 1949 M-13
Des M & Ft 1) 1st gu 4s...'35 J-3
Kinn & St L gu See BCII&N
M SLY& SO M con g 4 Int gu'38 J-J
11,18851&Alstg4intgul926 J-J
Minn Un See St 1' Al &AI
Mo Ban & Tex 1st g 4s 1990 J-D
20 gold 4s
gi990 F.A.
1st ext gold 53
1944 1.1-N
1st .3b refund 48
2094 ALS
Gen 5 t 41.2s
1936 J
St L Div 1st ref g 48
2001 A-0
Dal & Wa let gu g 53 1949 M-N
Kan C & Pao 1st g 4s 1990 F-A
Mo K & 1st gu g 5s 1942 A-0
1942 M-N
M. & Ok lat gu 58
K&ToxTlitgug5s 1942 11-5
Sher Sh & So 1st gu g 58 1943 J-D
Tex& Okla 1st gug58 1943 M-S
Icto Pacific 1st con g138
1920 M.N
Trust gold 55 staniped.a1917
Registered
alt)17 M.
let coil gold 5is
1920 F-A
40-year gold loan 48
1945 M-S
30 7s extd at 4%
1938 M-N
Cent Br By 1st gu g 48 1919 -A
Ceit Branch U P let g 43 1948 J-1)
Leroy& C VA LIstg53 1926 J -J
Pao Rot Mo 1st ex g 43.1938 F-A
20 extended gold 58 1938 J -J
St 1.Ir i11& Sgeu con g 581931 A-0
Gen con stamp gtd g 581931 A-0
Unified & ref gold 45 1929 J J
Rw & U Div 1st g 48 1933 M-N
Verdi V 1 & W 1st g 58 1926 M.
ldobJ & K C 1st cons g 53 11)53 J -J
Mob & Ohio new gold 68 1927 J -D
1st extension gold 68..41927
General gold 4s
.1938 M-S
Moutgona Div 1st g 65-11147 F-A
St L & Cairo colt g 423...61939
Uuaranteed g 4s
1931
M & 0 cod 48 See Southern
Mohawk de Mal Bee N IC& 11
Monongahela Riv See B 840
Mont Cent Bee kit P
&M
Morgan's La & T Bee 3 P Co
Morris & Essex See Del L& W
k ash Chat & StLlst7s.1913 J-J
1928 A-0
LI 1st consol gold 5s
Jasper.13ranch 1st g 6s 1923 J -J
Mo31
W & Al 1st 68 1917 J
T& P Branch lst
1917 J • J
Nasii blot- da Shot See
68...
L& N
Nat Rys ot Mexpr 14¼s 1957 J.J
Guar gen 48
1977 A-0
N at co Mex prior nen 4%3 1920 J -J
let consol 4s
1951 A-0
New 11 &I) Bee N Y N H&H
N J J uno RR Bee N Y Cent
Price
Prittag
Nov 5
Week's
Range or
Last
1
1
3:ill Range
9,,T Since
-11January
I
BONDS
N. Y. STOCK EXCHANGE
WEEK ENDINO Nov 5
5,.i,
3
Price
Pride'',
Nov 5
La [Vox,. Lxxxus
Week's
Range or
Last Sale
Range
Vice
January 1
Dia
Ask Low
how High.
11258
11268 Oct'09
110 11288
9934
i
97
973 Sep '09 .... 99
99
0715
98 194 10015Apr'0.u...... 10915100151
90
97
9914 Oct '06
91314 97% 9614 Oct'90 .
96
93 1
10415 De1008
9858 '28 97
9815
9958:
1U0.4 102%
100
10158 De(3'08
106
11014 6,ov'96
1113 106% 105 Apr'07
199 Nov'06
10234
116 98% 973 Sep'09
96
99
117
117 Oct'09
1151511715
114
115 Oct'09
119 117
99% 29 98%102%
99% 993 99
9938 100 May'09
100 109%
10058
105 J'ne'08
110
110
110
1 198%110%
In'
11115 Oct'09
111 11119
10434
10714 J'ne'09
107.4 111734
125%1213 125 Oct'09
12454 125%
129 Jan'09
118%
120 120
106 108 107% Aug'96
114%
117 May'07
71 May'09
68
75
71
71
9414 94 Oct'DU
94
96%
116 116 J'ly 06
110 Jan'09
110 110
97
'2 96
97
98%
104
103 Dee'08
91
92
91 Oct'UV
91%
88
112'i 113LA J'Iy'09. 11288115¼
103
2 109 110%
11034 110% 110%
110 114 11015 Sep '09 .... 11015115%
944 03-'09
93%
94
95%
43/j. Low
But
Bum No Low Bulb
13kin 4f,s Man 13th See 1. 1
,-.1.
15 9038 P.4
11015 0115 9988
2" Cent& It Riv g 3158.1997 J•J
904 8.314 Oct '09
Registered
8838 9334
1997 J.-J
95
95 % 115
95% .dS 9358 96%
1934 MN
Deben g 4s
99%
41
45 80% 85.4
Lake Shore coil g 3%s 1998, FA
8019
81 Oct '01.1 ...... 80% 84%
Registered
1998 F-A
81
81
3l
2 80% 84%
Mich Cent cot) g 312s. 1998 F-A
81 I 8212J'ne'09 .... 82
Registered
10)19
1998 F-A
100 Oct'99 .... 10034 100%
Beech Creek tat gu g 43 1936 J • J 100
102 Mai'04 .
Registered
1936 J-J 191
20 gu gold Se
1936 J -J 107
Beech Cr Ext let g 3195611)51 A-0 84%
97% Apr'09
97% 97%
Cart & Ad hat gu g 4s 1981 3-0
Gouv & Oswe 1st Rug 58 1942 J -I)
10014 Sep'09
100 100'4
Moh & Mal 1st gim g 4s 1991 /0-8 997
3
94
105 • ie. '92
NJJuncR gu 1st 48 1936 F-A
91
9614 Oa'0N Y & Harlem g 31513 2000 M-N
108 198
N Y & North 1st g 58 1927 A-0 .. .... 112%108 Oct'09
N Y& Pu let con gug4s 1993 A-0 99
0915100 8ep '98
Nor & Mont 1st gee g 58.1916 A-0
Pine Creek reg guar 65.1932 3-0 124 130 15 131% Jan '99
13115131¼
109 Oct'09 •••• 108% iLl
W&()con 1st ext5s.h1922 A-0 199 18
Oswe & R 2d gu g 5s...e1915 F-A
19515 105 Jan 'Ot110
R W&OT /11st gu g 58.1918 M-N
10215103 Sep 'ie.
Rutland let con g 4%8 1941 J -J
, 91 Oct'09
01
93%
Og&LCham 1st gu4s g1948 J-J
9119 114 J'ne'99
90% 92
Rut-Canad 1st gu g 45.1949 J-J
115 Fou'Ull
115 115
St Law & Adlr 1st g 53. 1996 J
125 Feb'u8
20 gold Os
1996 A-0
1034 Dec'Us
Utica & Bik Rivgug4s.1922 J-J 101
9134 92
2 91
91%
9558
Lake Shore gold 3128
9154
1997 J-D
99 %, Oct'99
90% 94%
Registered
1997 J-D 9015
33 9418 97
9..I15 Sale 94%
05
Debenture g 4s
1928
0414 Sale 9415
9434 1.11 93
97%
25-year g 4s.
1931 M-N
Ka A & G R let gn o 59.1938 J-J 11215
Mahon 0'1 RR 1st 58 1934 J-J 11219116 ,109 Oct '07
100 May 98
Pitts & L Erie 20 g 5s.a192:4 A-0
139% Jan '09
130%130%
Pitts McK & Y lst gu 68 1932 J.j 127
2d guar 65
1934 J..1 124,
MoKees& B V lstg 6s 1918 J -J 111.
101 Feb1)9
101 191
Mich Cent 1st consol 60 1909 11-S
98 Sale 98
93% 7 9219100
115 Oat'UV
115 115
53
1931 M-8
194 Apr'05
112
119
Registered
1931
109
190 Sale 109
21 954 10054
9814
9834 100%
1 9814 Oct '91.1
43
1940
'10619 Nev'UO
Registered
1940 J-J
98
95
05
95
2 8319 964
430 J'ne Uts
jI.& S 1st g 315s
1951 ?CS
24
27% 26 Aug'09 ...• 2415 2719
91
9118 '3319
lst g 315s
9.315 J'ly 'Oil
1952 M-N
25k3 Apr'09
2U 4 2519
93
9115 954
20-year deb 4s
9315 93
1929 AO 93
SO J'iy'09
89
80 I Bat c & Star let gtt g 38 1989 J -D
80 Feb'08 ....
99%
95% 7 9915 1924
N Y Clue & St List g 4s 1937 A-0 1)915101
109% May'09
109 1001s
10088 101
Registered
1937 A-0 119 % 190 1(10 Angle.)
8915
91% 94
9115 Sep'99
Debentures 43
1931 M-N
10315 41 191 104%
103
West Shore 1st 43 gu. 2361 J-J 103%
101
190 10315
Registered
2361 J-J 101 Sale 190
N Y &(hreenw Lake Bee Erie
183 135 132123'ne'09 .... 132121834 N Y & liar Lee N Y C& Had
19854
118 Jan'07
N Y Lack & W See D L & W
10188 May'09 .... 10188 103% N I L E & W See Erie
107 Sale 107
1 107 11115 N Y & Long Br See Cent of NJ
107
833 84
84 Oct'09
1424 Sale 14188 142% 92 13334 146
84
874 N Y N H & 11.-Conv 6s-1
19
95
46
8 J.
91 1 Oct'09 ....I ill% 91%
9115
105
60 97%1114
J -J 195 Sale 195
Cony deben 31.213
118% Dec'U.
1144
J11-N
1
Housatonic
R
con
g
58..1937
I
10015 9915
994 15, 99 100%
107 Aug'09 .... 107 107
N 13. & Derby con ey 56.1918 M-N
99
J'ly'99 ....1 99
68%
99 I N Y. & North See N Y (1 & H
1
9712 9714 Oct'OS
N Y 0 & W ref 1st g 43..g1992 11.13
96% 99%
9915 Sale 9834
9958 18 9888101'4
101%
Bogie 45 000 only
g1992 M-S
8788 8815 87%
88
5 86% 8834 N Y & Put SeeNYC& H.
.....105 10388 10388
3 103.4 10915 N Y & It 13 See Long Island
8434 85
s5
85
2 8338 8778 N 2' S & W ties Erie
99
91
90
90% 24 8988 9378 N Y Tex & M Bee So Pae Co
8519
88 Apr'99
1 88
101 Oct'09 .... 101 104
89% Nor & South let g be
1941 M-N 101
105
195 Oct'99
1 105 110 1 Nor!& West gen g 65
125 Oct '911 .... 126%128
1931 M-N 12419
93 Apr'99 ....193
95
93
.'2,
Improvenft & ext g 6s 1934 F-A 12534 Sale 125
)34 4 125 129
113 113 Oct '09
, 113 114%
1'25 128% J'ne'09 .... 127 12812
New River 1st g (43
1932 A-0
10788 10715 Oct 'OS ....i0715 112 I N & W ay 1st con g4&1996 A.-0 98.4 99
1187
118% 5 98.10015
195881054 1935 Oct'99 ...., 105 110
b9
97 J'ly'09 .... 97
1/7
Registered
1996 A-0
1194 Apr'ui) .
92,
4 10 91
011014 11014
93
9234
95
Div'l lett& gen g4s...1944 J -J
196 1(17 Sep'09 .1107 11115
10-25 year cony 45....1932 J-1) 19018 Sale 100% 10114 118 9315103¼
112 Sale 112
99
99'4
9015
2 8958 93
1124...5 112 116 1
Pocah 0& 0 joint 43..1941 J-D
10158 Sale 1o1' 101% 6 109%1025
19915 Feb'05
C0& T 1st gu g 5s
1922 J-J 105
104% Feb'07
95
90 15 0615
965*
9514 98%
SeloV&1 E 1st gu g 4s 1989 M-N
10388 Saio 10'2
10288 7 101 10388 North Illinois See Chi N W
8U.. Sale 794 81 47 78 4 854 Norm Ohio See L Erie&
&W
i,15.
,
4
95%
95% 5 95% 96% Nor Pao-Prior lien g 4s 1997 QJ 101% Sale 101% 102
41 10115104.
94 15 95
94% Oct'99 .... 89
95%
Registered
-J
10114 Oct '1)1/ .... 101 193
87%
8815 Oct '09 .... 88% 91 i General hen gold 3s....02047(
'73
19 '7114 cs
4•F 72 ISale 71%
1
R
egistered
71
7215 Oct '09
72% 7434
a21.147
100%
11
00% Oct '01)
9 .... 9915 10088' St Paul-Dal Div g 48.-1996 Y-41'
13 9558 'Sale 95%
115% 5 $1538 974
115 Sep '1)9
11215 115
Dul Short L let gu 58-1910 11-8
..
109 Sale 10878 1091e 4 10878 113
C B& Q colltr 4s See GtNer
no 1iI SOP'09
110'4 111%
bit P & N 2 gen g 6s. .1923 F-A
120 118% 118% 5 1184 121
8654 87
87
8714 2 86
9934
Registered certidc's..1923 Q-F
119 119 Oct'09
115 1204
8714 Sale 874
8714 79 87
91
St Paul & Dul 1st 53.-1931 F-A 110
11714 Ply'97
107% Apr'06
194% Sep '911
104 10434
1917 A-0 194%
98 Dec'96
21adt5csonsol gold 43
1/8 Oct '99
974 id)
1968 J-D 97% 98
120 122 12214 Aug'90 .... 11915 125
Wash Cent 1st g4s
92 15Jan'MI
1.3
92% 02%
1948
117 1184 117% Oct 'in) .117 118
Nor Pao Ter Co 1st g 63 1933 J-411
11.054 Oct '09 .... 110.4 11615
.5 110%
89 ...7 i 8015 91
8815 sale 8815
Nor By Cal See So Pao
112 11234 Oct'99 .... 112 4, 11278 Nor Wis See 0St P M & 0
75 .illay'08
Nor & Mont Bee N I Cent
96 101 Nor'04 .
i I Ind & W See C 0 C & St L
l_lhio Riv RR See Balt &()
Ore & Cal See So Pao Co
Ore Short Line See On Pao
Oswego & Rome See N 10
110
10 10819112
ac Coast Co let g 58....1946 J-D 110
110
ac of Missouri See Mo Pao
109 1094 10915 Oct '09 .... 10915 112% Penn RR let real est g 4E1.1923 NI.N 103
104 Oct '09 .... 103 105
110 11288112 Oct'09
112 1135,,
Consol gold 58
199% Jan '09
1091210912
1919 31-8 199%
Ii t,% May'07.
117
1, ' M-N
Comex gold 45
191 Sop'1).. ....101 1044
117 14 Mar'95.
Convertible g 3123
1912 11-14 101% Sal5 10134 104%1844 9719 10615
113 J'ly'94
118% 2037 9414100
Convertible g 3%s
1915 J-3) t/t3 Sale 9558
,
goldCus
48
1948 MN 104% sale 19488 19458 611 103¼ 10588
94
9438 94
94 1 12 9278 96
911 J'ne'97
Alleg Vat gen gu g 45 11.142 NI-S 100
......
87%
88
6 86
89
8715
D 11 It It& Bge 1st gu 4s g '30 F-A
10119
193 103
192 Aug'09 •
Plata 13al & W 1st g 43. 1943 It-N 1034
104 J'ne'OU .... 1034 104
85
84 1 15 89
83158334
Sod Bay & 8o lat g 58. .1924 J -J 100
192 Jan '03
U N J EH& Can gen 43.1944 M-3 193.4 106 10612.1.1y'00 .... 101 10012
i
11
P
MISUELL kNEOUS BONDS-Continued on Next Page
Coal and h'on
Telegraph and Telephone
Buff &Susq Iron s t 58.-1932 J-D
98 100
Am Telep & Tel colt tr 45 1929 J.J
9915 100 May'09
9138 96
931
/
4 9288 Oct'00
Debenture 55
a 1926 m.s 94
96
97%
9788 96 Oct'09
Convertible 43
1936 M.
10134 Sale 19414 105 14 id( 9241074
Cots ..i.: t. co gen 8 t g 53..194J P -A
9719 99
98%
98% '2 94 100% Mich State Telep 1st 5s -1924 F-A
99
U834 Oct '09 .•.•
98 100
Convertible deb g 55....1911 F- A
87
87 % Pac Tel& Tel ist 5s
9715 87% J'ly'01.
1937
98% Sale 0814
98% Lis 90% 9834
Col Indu 1st& colt 5s gu..11/34 F-A
84% West Union col tr cur 56 1938 4-4
83 Sille
8278
8315 120 71
98%102%
109% 1))0' Oct '011
Contin'tal C lets t gu 5s g.1952 F-A
10758 Dec'94
101 ami real eat g 4.53 113511
94% Sale 94
934 90%
1)415
Or Ely Coal &(31st g 68..1919 A-0 95 199 19258 Apr'09
Cony 4s, Series A
1936 M-N 100 Sale 100
84 10288
199
Jell ds Clear0& I 1st g 53.1920 4-1)
But U 31 Tel A fund 68. 1911 5.1
107 May'97
95 100
100 Mar'09
Kan & a 0&()lets f g5s.1951 J-J
10515 Dec'06
98
ilanistacturing 23: I ntinstrin,
recall Con Collier lets / 5s.'57 J -J
89
8819 83 Sep '09
Allis-uhalmers 1st 5s
86
Mu J -J
884
84% Sale 8418
85 441 80
Sunday Oreeit Co g 5s....11144, J J
Am Ag uhem 1st c 58
73 Fou'07
1928 A-0 10215 Sale 102
102% IS 96 103%
Tenn Coal gen 5s
1951 J -J
Am Cot 011 ext 4%3
103 ,96
8 101% 104
1915 124
11)315 103
9834
96
96%
97% 116%
renn Div 1st g 6s
a1917 A-0
Am Hide & Lists!g 6s 11.119 .9- 6 101%102 101% 102% 19 9654 103%
10314 198 Aug'91)
1064 109
Birm Div let consol 63..1917 J -J 106 Sale URI
; 06 103
Amer Ice Secur deb g 68 1926 A-0
106
67
80
72
73
72
Cali 0 M Co 1st gu g 68.1922 JD 196
110 Jan '01,
Am Spirits Mfg 1st g 63 1915
110 110
90151(10
S
116
97
97 Cot '01J
De Bar 0& I Co gu g 63.1910 F-A
193 Nov'98
Am Thread let col tr 4s 1919 J
93
1 90% 93
93
93
Victor Fuel 1st a I 55
1953 J -J
87
87 Aug'09 .... 87
87
Am Tobacco 40-yr gl3s
1944 A-0 109 Salt, 10834 109% 1I2 1041511215
VaLron coal &Colst g 53.1949 M-S
97
99% 99 Oct'09 .... 95 100
45
1951 F-A
80% 250 74
81
80% Sale 80
- ----*No-price
Friday; latest bid and asked.
aDne Jan b Due Feb c Due ',tar d Di slur h Due .I'ly kDne Aug o Due Oct v Dae Nov q Du3Deo &Option Sale)
Nov. 6
Sew York Bond Roo(AA- -concluded - Page, 4
1909
•,s
BOND
'
74 •`.",
N. Y. s'pocK EXCHANGE
Wino: to,14,N,4 Nov 5
Price
kidaii
Nov 5
BONDS
Range ;:
Week's
..„-=
Since
l! N. Y. STOCK EXCHANGE
Range or
' January 1
Ldst Sate 41WEEK ENDING NOV
c
1209
Price
Enda?,
Nov 5
Week's
Range or
Las! sale
=11
Range
11,0e No Low
481. Lew
ig/1
.11teli No Low Blatt Southern Pao Co-Wontitruea)
Btu
8ia
As" Low
/
1
2
104
No of Cal guar g 53
112 Feb,o8
1051
/
2 1044 Oct'09
Penn Co-Guar 1st g 41
/
23.1921 J-J
1938 A•0
2
102
1 102 104,
Ore 5, Cal let guar g58 1927 J -J 103 1031
104 104
/
2 104 Mar 09
Registered
1921 J-J 192 male 102
101 /
1
2 Jali 88.1
1011
/
2 1011
So Pa,cot Ariz 1st gu g 63.6'10
/
23'1mq/6
901
/
2
Guar 31
/
23 coil trust reg 11137
904 1)1 4
Su Pao or (81,1-6s E & F 1912 A-0
Ui J'ly'09
101 42 J'ne'0,4
110
Guar 31-2seuil tr ser B 1941 F-A
114/
1
2 Doe'04
98
11
4 98 !!
9734
1st gold 6s
98 Salt
A-0
Tr co certit's gu g 31
/
28 1916 31-N
89 t. 90 ,
1st con guar g 5s
1113 Mov'07
M-N
8978 99 Aug'09
Clu 3/
1
23 tr ctfs 0
1942 J -D
S Pac of N Mex 1st g 6s-19
901
/
2 90%
•
9034 lkitty'int .
101% 104 Apt '08
1.10
Ga 3/
1
43 tr etfs I)
1944 J-D
993
11
2 J -J
So Pao Coast 1st gu 45 g 1937 J J
/
2 92
98% 5 081
/
2100
90 J'ly 09 •... 881
1931•A•0 983 Sale 98%
Guar 13-25 year g 4.s
, Tex&NOSabDivlst g6s.1912 M-S 102 104 103 09009 •... 1021
/
2 103
110 Jan '05
Cl & Mar let gu g 91.2s 1935,M-N 10014
102
Con gold 5s
981
/
2 Apr'98
110% Jan'0) .110% 11034 ;
Cl ds 1' gen gu g 4/
1
2s ser A.'42! J -J 1097,,
9814
10934 109% So Pic Rit 1st ref 45
943. Sale
U44
.J'13 'U')
J -J
1093
('6¼
91% 190
Series 13
1942 A-0
90
96 Aug'09 •
Southern-let con g 58- 19
108'2 11 10(.5 113%
; 96
97
94
Series C 31es
1948 M-N
999
544
53 J • J 10838 8a18 108
10844 110 May'Utt •..• 109 1101
/
2
J J
1)4
90 3lay'08
Registered
97
Series 1)31
/
2s
1950 1-A
71134
85
114
Develop & gen 4sSer A 195
92 Apr'07
76
Si',
Erie & Pitts gm g 3/
996
4 A-0 81 Sale
1
28 13 1941)!J J
8812
89,8 Oct '09
Mob & Olno coil tr g 45..1938 al-S
98% Apr'04
851
/
2 19Pa
94
Series 0
1940 J-J
/
2
110 Sep '011
/
2 1041
Bern Div let g 41
/
4
110,2 1131
1041
/
2Oct '09 • • 1011
Or It& lox 1stgug41
/
2-5s...1996 J-3 109
/
231114113-J 104
111.1 Aug'09
8514
107 107 , St Louis dm 1st g 4s....1951 J • J
8708 91
107 Oct '011
Pitts Ft W& U let 7s 1912 J•J
108 teep 8/8
Ala Con It let g 68
J •J 109',
1081
/
2 110 May',19 . 109% 110
2d7s
1912 J-J
1121
/
2()et'u)
Atl & Danv 1st g 4s
/
2 9212
921
107 Oct'08
3t1 78
41912 A-0
194
18
9 3-J
57's 87% 92 J'ne'96
2d 4s
110 Feb'011 : 1111 110 J
J •J
Pitts V& Ash 1st con 66.1927,M-N 108
/
2
10778 1091
AU & Yad let g guar 43.1
/
2
10778,7'1y'09
/
2.3A...1949 A-0 1071
PCC& St Lgul1
194U
49 A-0 83
109 J'ne'18,
10778 109
109 1104
Col & Greenv 1st Us
10778 Oct'09
Series B guar
1942 A-0 10778
1916 J
E T Vii & Cia Div g 5s..1930 .1
110% Oct '99
109% 111
110½
1121
/
23 lie'05
/
2
Series(1 guar
1042 51-N 1071
100 102
Aug'09
Con 1st gold 58
114,
4 144 1 110½ 114',
114
100
111/5
8
series 13 4s guar
.31-N
1945
98
E Ten reor lien g 53
107 Apt 'tit, •... 105 107
96 Oct '011 .... 94
Series E 31
195
/
2 guar g
36
8 M-8 106
1949 F•A 9338 95
Oa Midland 1st 33
05
68
4 64
65
/
2
Series I' 4s guar
1946 A-0 05
1953 J-D 991
1t2',
Ga Pao fly let g Os
116 Oct'99
114% 117
114 J'ly'09 • 114 116's
C St L & P 1st con g 513 1932 A-0 1134
Knox 0190 let g 6s. 192
11818 1184
/
2 11814 •'-''09
Pensacola & Atl See L& Neal
925
2 3- J 116 1161
/
2
115% Apr'06
dolt&
prior Gen gi5;31945 3-4 1091
......
Peo & East .8643 C C &St L
no 110 1
71)
82 Nov'08
J -J
Mortgage gold 4s
Poo & Pek Uu lat g 68.-1921 Q-F 107 116 116 Aug'09
Rich & Dan con g 68....1
10034 Dee'05
107',107% 110 4,1'ne'uv
108,4 111
2d gold 41
915
5
/
2s
194
01921 ld-N
1927 A-0 Lot 107 197 'Jet 8/1)
Deb os stamped
107 107
105 Aug'09 .105 106
Pere Marti-Oh& W
5s 1921 J-D
75
88 '08
761
/
2
112 115
Rich & Beck let g 48 1948 31-N
1121
Flint &
/
2 112 .Aug'09 •
g 63... .....1920 A-0
/
2
193% Oct'LW
1043 1091
So Car & Ga let g 5s. 1911) M-N 103
/
2 Oct '09
1061
11-01-4 103%
1st consol gold 6s
/
2
1939 M-E 1041
112 uct 'ut)
107 1981
/
2
Virginia Mid ser C 0s 1919 M•
Pt Huron Div littg 53 19311 A-0 104 111 107 Aug'09
1081
/
2, .
Series 1) 4-5s
Sag Tus & 11 lstgug 43 1931 lf-A
1921 M-S 108,,
109 J'ly '99
Series E 5s
109 109
Phil B & \V See Penn RR
11993266 M-S 1074
1
M-N 10814109 109 Aug'09
95
93
107 1101
93 May'09
General 58
/
4
92
Philippine Ity 1st 30-yr s f413'37,3•4 90
1991
/
2
(mar stamped
1071
/
4 1091
/
4
Yitta Cm & St L See Penn (Jo
1936 M-N
9918 lat,'07
W Li& W 1st ay gu 48 1924 F-A 91
Path Clove & Tot See B & 0
197 Oct '1/9
West N C let con g 08 1914 -J
107 1091
/
4
Pitts Ft W & CIL See Penn Co
S& N Ala See L&II
Puts 31cKees a) Y See N Y Cen
100% Sep '08
/06% 1061
/
4
/
4 116 J'ly'09 ..... 119 11614 Spokane Internet 1st g 58 195581.4
Pitts Sh & L B 1st g 5s 1940 A-0 114 1151
93%3'11'97
er A et
10//
1
2109
110
L 1st g 41
1
2 198 Sep'
lst eolmol goiti 58
09
1943 J -J
/
26 19318A-0 10034 107/
11618 Oct'09
,
let con gold 58....18114-1944 F-A 115
115 117
Pitts & West fits IS &
991
/
2 03 98%101 II Gen refund s t g 48
83 '09
991
/
2 Sale 99
97
I,eading Co gen g 4a
96
974 90
98
1997
1933 J -J
981
110,4 J'nelm
/
2100 1 St LB bige Ter gu g 58 1930 A-0 108
110'4 1101
/
4
11878 98% Oct'00
IA,Registered
1997 .14
/
2 981
/
2 Tex & N 1) See So Pao Co
98 Oct '01).... 961
/
2 88
ersey Cent coil g 43 1951 A 0 961
113
/
2
113
1121
119
102 Oct'09 .• 102 1024 Tex& Pao let gold 58
Sale
Philo & Read cons 78 1911 J•D 1034
112
.1-D
'2
2000
85
85 Aug'99
65
75
Mar 70
2d gold Inc 58
Rensselaer & Sar See 1)& 13
103 Sep 'OL
103 105
La Div 11 L 1st g 5s
Molt & Dan See South ay
92199:1991
J 104
1061
/
2 Nov'04
W 31in W & N W 1st gu 58'JO F-A
Rich & Meek See Southern
111
111
..11239
Tol & 0°1st g 58
Rio Or West See Den& 1110 Or
112 Sep'Mt
112 112
j
Hoch & Pitts Nee B It & P
Western Div let g 58 193
A:0
935 j
103½ 195
104½ Sep '99
Rome Vat & Og See N Cent
General gold 5s
811)
93 Sep
92% 95
Rutland bee N Y Cent
Kau & M let gu g 48
1911
930
5 48-1
4
921
/
2
921
/
2 2 864 04%
Tus (113 11 See Pere Marq
Tol I'& W 1st gold 4s
1917 8'4
99% Oct 8.8,
96
891
/
4 9132
kit Jo & Ur let 1st g 43 1947 44 96
25 92
Tol 8t Loa W pr lien g 31
97
9018 95
/
28 1923 4 -4
8i 0.3'99
80
i950 A-0
881
/
2
1 50-year gold 48
8t L 32 Cairo See Mott & ulno
id% Apr'99
11138 91.4
St L & Iron Mount See M P
Tor Hain & Bull 1st g 48.811146 3-1.)
108 Aug'09
f l lster& Del lilt con g 58 1928' J -1;)
107 108.4
St L Itt Br b'ee ltli A or St L
Oct86
84
86
89
, let refund g 4s
St Louis &
/
212434 kAims 08.11131 J-J 121581221
/
2 123% Sep '09 ••••' 1221
- J 193 1031
General gold 5s
101) Oct'09 .... 109 111
Un Pao RR & 1 gr g 48 195
/
2 192% 103 *-e6 192 10434
J1931 J •J 10914
947
2 A0
91
Oet'00
9612 .
/
2
c 1011
10034 103
92 O t'09
8t L & If UR eons g 48..'1/6 J -J
1tegiatered
4 1963 102 1241
Gen 15.20 yr 3s .
/
4
20-yr conv 48
89½87 88
914
1927 M-N 89 Sale 88%
g1
1
2
,
90
2
4
,
7.
3
.I
1I-:1 115% Sale 114.2 i10,
97 117 116% 100
911
/
2 sale '37
Southw Div 1st g 58 1947 A-0 1004
100½ Aug'091(1012 101 l i let & ref 4s
•
Oot'09
98
9978
Refunding g 46
8434 85 84
89 I, Ore Ey & Nav,con g 48.19461J -D 96%
844 84% 844
1951 J -J
1181
/
21201
/
2
118% 119 Oct'09
2 116%12U'2 ' Ore Short Line Dag 6s..1922IF-A
KU Ft S& .11 con g 08 1928 M-N 119 1214 119
119
1,13
/
2 113½ 113
let consol g 58
K 0Ft & Ity ref g 4s 1936 A-0 82 Sale 82
11 113 118
82
11 82
86 ;
1946 J'J 1121
1
1,314 35 9234 9,34
Guar retund 48
KO& M & II lat gu 58.11129 A-0 100
J:D
. 934 salt 1)238
1,2
112
,
9'.
94 Jan'99
94
94
97 Oct'UV .... 1 97
Oz'rk & Ch C 1st gu 53 g.11113 A-0 96% 98
98
Registered
9938 Aug'09
/
2
119%1001
/
2
Utah & Nor gold 5s 1926 si'
6t Louis So See Illinois Cent
4 1071
1
93
Uni N J RR & C Co See Pa RR
St L S W 1st g 48 bit etts.11189 14-N
9178 Sale 91%
28 9138 05
Utah Central See Rio Ur Wes
2d g 4e Inc bond ctia...2)11)811
85
841
/
2 Sale 841
/
2 841
/
4 43 79
Consul gold 48
/
4 814 Utah & North See Un Pacille
1932 J -D 7714 Salt 7712
7754 91 771
101% Apr'07 ...11.....
114.
Utica & Black R See 11 Y Cent
Gray's tTer 1st gu g 58 1947 J -D
1 V andalia consol g 48 ....1955 F-A
981
/
2 98 Nov'08
St Paul & Dul See Nor Pacific)
I
90 Oct'09
96
I V era Cruz &Plat gn 4101934 J-J I
P Minn do Man See Gt Nor
98
'
'Per Val Intl & W see MOP
062 & Nor Pao S'ee N or Pao
Virginia Mid See South Ry
SLY& S'x City b'eeCStP5t&OI
I
110 Oct'09
110' 1171
92% Va & Southw't 1st gu 53.2003 4-3 110
/
4
87
8 A& A Pass1st gug4s 1943 J-J
17 87
87 Sale 87
99
/
2 991
F'& NI'let 8inl1 g58 1919 J -J 104 106 104 Oot'09 .... 109, 104 1 let cons 50-year fts
/
2 181
1958 A-0 981
/
4 109
071
W abash let gold 58
1111
/
4 1141
1121
/
2
Say & West See AU Coast LI
/
4
1939 MN 112 :laic 112
1
2d gold 56
Scioto Val ea N B See Nor & Wi
101 105
1939 F-A 101 Selo 101
101
1
68
91 Oct'09 • 1, 031
Seaboard Air Line g 93_1950 A-0
Debenture series B
88 101
iUt) 101 J'Iy9.19
/
2 91
1939,J - J
let
1021
/
2
May8.81
/
2100%
lien equips fd g 58-11)21:M'S
9944 99% Oct '09. ..1 951
Coll tr refund g 58
102',10211
101
1911 M-N
Ati-13irm 30-yrIst g 48.81933 3.186 , 1st lien 50 yr g term 48.1954i J - J
86 Sep '09;....,1 86
s7 Aley'09
87
871
86
/
2
82
I ist ref and ext g 46 ....11150 j- J
7J /
1
2
•438
Car Cent 1st con g 48 1999 J -J
74 lisle
/
4
180
71% 801
11312 85 J'13"08
';
Fla Cen & Pen 1st g 58 11)18 J -J 100
Det & Ch Ext 1st g 511-1941 J - J
108 1111
/
4
109¼ 1104 Aug'911
10714 Aug'00 _11..
1st land grextg6s1u3o J -J
911
/
2J'ne't)J
08% 91'1,
Des Moin Div let g 48..1939 J -J. 83
88
i091
/
2 Mar'05
()onset gold 5s
78 J'ly'99
78
80
Om Div let g 31
/
26
1943 J -J 19018
1941 A-0 75'a 82
90
83
111% blay'99
88
Ga & Ala Ey latcon 5801945 J-J
/
2J'ne'09 . .,▪ .' 1024 1061
ill%
Tol & Ch Div let g 48 1941 M1061
/
2
44
42
/
2 Mar'09 .... 105 100
464 45 Oct 'MI
Oa Car do No 1st gu g Os 1929 J-J
554
105 1961
Wab Pitts Term 1st g 413 1954 J•D
94 Sale 44
4514
41% 55%
Seab & Roe let 5s
10738 J'ne'01,... 1()634 10734'1 Trust Go certfs
1929 J•J 104
8
13
7
141
/
4
Sher Shr de So See Z1 It. its
20 gold 48
1954 J-D
13
41
7,
84
bN
4 141
/
4
8114 Oca & U See AU Coast L
Truet Co cents
i Warren ,see Del Lao & West
So Car & Us See Southern
Wash Cent See Nor Pao
Southern PacIlic Co911
/
2 904
91
lloid 45(Cent Pee coll).kli)49 3-Et 91
951
/
2 Wash 0& W See Southern
63 00
93.8 Aug'09
9134 921
/
2J'ne'09
921
/
2 9338
Registered
933 Wash Terml let gu 31
135
/
2s-1945 F.A
k11/49 J -D 86
84
/
2107
West Alaryland 1st g 48...11)52 A.0 83% Sale 83%
20-year cony 4s
7 8238 88
91929 51•S' 10238 8ale 11124 1u27 443 971
• Aug'09
974; 83 961
/
2 0878
0/
117% Sale 90%
Gen & cony g 4s
73%
Cent Pao 1st rot gu g 481949 F-A
1952 A-0
08 Sep '99
09
62
73
, 06
U734 I
Trust Co certta.
00'
Registered
9634 9614 Sep'
192 J'iy
102 102
W Va Ueut dt k let g tis 1911 4-.)
51ort guar gold 3/
11; 8834 16314
8834 81/1
/2 883
89
1%A
1
23..ic1
19 .1-D
119/29
/
2 Oct 8.8.1
19-i ; West .81 Y& Pa let g 66-1937 J -J 111 1121
110 117
/
2 1121
IiVs 94 Oct '09...... 93
Through St, L 1st itti 4s'54 A-0
91 out 'We,
953
.
87
110
Gaf Har & S A 1st g 63 1910 F.A.
1014 Apt."01.t • ; 101%10114 ,' Uen gold 48
1943 A-0
34 Fel.)887
Mex
......
/
2 APC.118....1 110 114 ;1 Income 53
Pac let,g 5s
(11993 Nov
11131 M-N 199 109% 1111
1014 Sep '01) ...., 104 10434 West No Car See south By
Ulla V Ci & N ltitgu g53 1924 5447
Mous B & W '1' let g 53 11)33 M-N 1031
10714 Sep'09 .... 107 109
/
2103 1054 Ality8)18....' 103 1054 Wheel'g & LB 1st g 5s...1920 A-0
1031
/
2 Apr'1191
95 J 'ty 'ut$
WheelD'
/
2
1st guar us red
' 1031
/
21031
1933 M-N 104
gold8. ' 4.4
Exten & Imp gold os. .1939 F -A
/
2 1)ec918
1031
Li & T C Jut g Ls int gu 11137 J -J 110
110 ()et '09'. ';10938 11()4
lilt 1st consul 48. . .1949 M-S
CollsOl g Os hit guar 1912 A-0 101/1
/
2Sep'95 .... I 83% 90
81.118 8111
/
2110 10738 Nov'07;. .;;
20-year equip is t 5s ...1922 J -J ' 118'4
99 Dee'98
Gen gold 95 lilt guar 11121 A-0
1.83 1
/
2 1)3 Oct'09 ....1 1 93
901
133
' Wilkes & East See Erie
Waco& N W tllv 1st g 63'30 371-N, 116 118 110 18,0'06'. I
;
A & N W 1st gu g 5s
/
2Jan'09 ...., 107/
1
21071
/
2 Wil & Sioux 1' See 8t P 51 36 31
1071
'
11141 J -J 1
Morgan's La & T let 78 1918 A.0 1171
y
Wis Cent 50-yr 1st gen 48 1949 J-J
95
/
2 96%
52 891
95 Sale 9438
/
2 120 12218 Aug'08
let gold tis
93
9 92% 96
I Sup& Duldiv& term 18t Is'36 M-N
1920 J-J 114
9234 93
112%
110 Nov'013'. ..'l...
11
1
••-
-•
•
•
•-
-•-•
....1
I '
•
• •
-•
•
..
•
•
•
•
,111S,LELLANEOUS BONDS-Concluded.
Inetfi ring az: Indus!rinl
Mitnuluctur•ng & Industrial
Armour &Co Istreal est4/
1
28'311 .1-1) 93% Salo 931
8tee1 Corp-1 coup .819433 3I-N
/
2
/
2
93% 85 9238 061
Beth Steel 1st ext St 5s..1989 J
..111.133 MN
89¼ sale
51 10460 yr Its. -f
9014
8918
891
/
4 38 77
Cent Leather 20-year g 58.1926 A-0 99 Sale
reg. 1923 J -D
Va-Car Chem 1st 15•yr6s
Os lu
991
/
2 53 961
/
2 1.01
Prod
Ref
St
g 51,1„..1931 M-N
Corn
98 88,18 901
WestinglioUs0 B & 31st Is '31 J -J
/
2
118
18 95 100
Distal ace uor couv 1st g 588'27 A-0 741
Miscellaneous
74%
/
2 75
/
2 '7878
754 121. 731
bleu Electric uieu g 310..1948 F-A
Adams Ex coi It g 4s
83
83 Aug'09
84
80
1917 J-1) 1501
A-0
10-yr g deb 5s
/
2 Sale 1491
/
4 Bush Terminal 1st 48..
/
2 159% 21 130 1531
1955 J•J
Int Paper Co let con g (33 1918 F -A 104
Consol os
101 11 194 1. 10 101 l06'
1935 J -J
Consul cony s f g Cm
8978 Chic J c & t Yard col g 5s 11)15 J - J
85
8738 Oct'09 •
Int St Pump 130-yr cony.63'13 J .J
100 105% Det & 31 Id r lucomes 1911 A•0
1.08 Sep '09
1928 A•0 0834 tiaie 98
99,8 nstit for Irrig WKS 4,145 1114.; 31-N
Lackaw Steel let g 53
98% 17 93
/
23 11)22
/
2 belt, 1131
N Y Air Brake 1st cony Us'28 M-N 1141
/
2 114% 613 103 11014 hit Met-call Marine 41
Repub 1 & S 1st& coltr 58.1934 A-0 101
tilt Navigation 1st s 53 192: F-A
102
102
1 08 11)1
5,
1)
1)
53,i1:1110 J -J
61111)
Union Bag & P 1st 5138-11/39 .1.4
Newp
Xt3
95 1 964
... 9134 OA
Us Leath Co e!del)g 68 1913 M-N 106 1 ,U14 100
N Y Dock 10-yr 1st g 43-1951 1f-A
31 100%
t
11
,), :
106
US Leiilty& I CODY deb g5s'24 J•J
Providence sec deb 4s, 1317
110
9934
91
9034
1.15 Red & lief islet g 03.1931 T-J
Provident Loan Soo 41
/
28 1'321 M.-S
94
94% 11234 Oct '09
8,_I
U 8 Rubber 10•yr con tr 68.'18 J -D 105 Sale 104% 10514 113 10214 100
S Yuba Wet Co con g
-I."
..
*No price Friday; latest bid and asked this week. a Due Jan
Itue Apr e Due Nay g Dna i'ne
b Due Vet)
105% Sale 105
10518 Sale 105
9714 bah/ 974
113 Sal., 114%
1051
/
2 534
1051
/
4 11
97% 88
93
59
93
9.1
1,93 J'ly 88•
96:
1 1101
/
2Oct '011
ou Jan
105
33/
1
2 Oct'01,
9,5
93 Oct '91
70% Sale 69%
81
s4 Oct'((.
82
116 Auri98.
'J5
11414 15438 944
998
90 Jan
861
/
2..
135 J'ly'(0
112 :Ply'04
03
Sale
115
h Duo J'ly
pDae Nov
1
102 18108
101% 108%
113% IOU
994 951
/
2,
92
99
90
931
/
2
1/11
/
2 961
/
2
381
/
2
9234
981
/
2
84
381
/
2
951
/
2
77
881
/
4
90
95
95%
90
96
sOution Sal*
CHICAGO STOCK EXCHANGE-Stock Record-Daily, Weekly and Yearly
STOCKS-HIGHEST AND
afttu,
Oct. 3.).
.az VI:uuy
.., UW..11
Nov. 1.
Nov. 2.
OWES7' SAL!? PRICES
eanesaau
Nov. 3.
W
1 nursaay
Nov. 4.
r Tway
Nov. 5.
Last Sale 180
Apr'09
;112 -2*112 2
;112 i
Last Sale 112
;11-2 ..2
.
Oct'09
*5
10
*5
10
*5
10
Last Sale 5
*5
10
Oct'09
*104 106 *104 106 *104 106 *104 106
Last Sale 103
Oct'09
3(3
*35
*35
36
*35
30
34
35
*34
35
*34
35
*23
21 *___- 24 *____ 24 *___ 24
Last Sale 2412 Oct'09
*9
10
*9
*9
10
Last Sale 10
10
*9
10
Oct'09
*7
653 734
7
714
714 714
714
714 714
673 7
*38
40 *38
40
40
40
40
41
*38
40
*38
40
*81
82
83
*81
*81
82
83
82
*81
82
*81
8234
*16
17
*16
18
18
18
17
17
17
17
17
17
5134 3131 32
54
*5312 5412
54
5434 5134 .5414 5414 54
*13
20
*15
20
20
*15
20
*15
Last Sale 20
Aug'09
*60
68
68
Last
*61) 68
*60
68
*60
Sale 70
Aug'09
53
*52
54
*51
52
*52
54
5212 5212 5234 5234 *52
4631 471s 4658 4678 4658 4678 4612 4578 4612 4678 4638 4034
103
*102
103
Last Sale 10214 Oct'09
*102 103 *102 103 *102
Sales
al the
IYeek
Shamtz
Ranq6 sox,
Jan. 1 1900
STOC KS
CHICAGO STOCK
EXCHANGE
Miscellaneous
1214 1218 1214 1212 1234 1258 1278 2,275 American Can
1212 12
100
8212 83
8314 8334 8314 8418
8238 8212 83
645
Do pref
100
_ *220
_
_ *220
Last Sale 22514 Oct'09 -- AmeriJan Radiator...100
1-3-2- *130 13-2 *130 132
--Last Sale 132
Oct'09
Do pref
100
6719 *66
67
67
671
68
68
68
-5:-34 Amer Shipbuilding_ _100
111
11012 11034 *110 111 - ---- --110
110
143
Do pref
100
14112 14119 14138 11138 14138 14138
14138 *14012 141
5116 Amer Telep & Teleg_
Last Sale Is
June'09
Booth (A) i'.:. Co
iii5
Last Sale 14
June'09
Do prcf
100
2234 23
23
2314 23
23
2318 23
2312 25
i
2414 2434 . 2-_._i;fi
Booth Fisheries coin ____
63
631.2 6338 6312 6314 6312 6314 6414 64
6512 65
Do pref
6558 2,981
*52
54
*52
54
*52
54
*52
54
Last Sale 54
Oct'09 -- Cal & Chic O.nal & D-103
118 *1
118 *1
*1
118 *1
118
Last Sale 1
July'09 ---- Chic Ilrew'g & Malt'g--*2
3
*2
*2
3
3
*2
3
Last Sale 218
July'09
Do prof
39
39
3912 3912 3834 39
3812 3912 3834 3834 3834 39
-5e-i9 Chic Pneumatic Tool-100
13612 13612 • 136 137 *130 137 *136 137
136 136 *136
137
09 Chicago Telephone-100
Mcia'08
Do rights
Last Sale 214
Chic Title & Trust__ _100
idiL-• fir *iir fir *1I8- -116 . 147 147 *145 146 *143
146
607 Comnionw'th-Edison _ 100
11914 11912 119 11912 11914 11914 119 119 *119 11912 11912 11912
22
450 Corn Prod Ref Co Corn_ _ _
2114 2114 22
22
___ ____
2134 2134 2112 2112 22
_
_
Last Sale 8614 Oct'09
Do
iaai4 1
/
6/1 /Nig hi- iii- hi" iiii2 1-2-7- 127 127
DoFrer1ao
127
12714 -iga Diamond Match
6714 6114 66
66
69
6734 69
6634 6758 64
6314 6334 5,598 Illinois Brick
100
*43 ____ *43 ____ *43 ____ *43 ___
Last Sale 45
Oct'09 __-_....: Masonlc Temple
Last Sale 21g June'07
Milw & Chic Brewing
Last Sale 21
June'09
Do pre
,
1 114- 1-15 - rkiii 1-1I- 11E12 1-1-5-12 *iii- 1-1-5 *115 116 *115
116
National Biscuit
100
*125 126 *125 126 *125 126 *125 126 *125 126
135
Do prof
12514 12634
100
97
97
*9512 9714 *9512 9714 97
277 National Carbon
100
97
97
97
97
97
0118 120 *120 125 *120 125 *120 125
Last Sale 120
100
i6Do pref
Oct'09
11512 11512 *115 11512 116 11614 11618 11614 11414 11458 114
11414 -6 People'sGasL&Coke-100
Last Sale 11-16 Mch'00
Do rights
14034 142
3.7185 Sears-Roebuck corn..100
14112 1-42 - 155- fir 1.55 fir 15554 1-4-033 13912 140
52) Do pref
*12018 1201. 120 12012 12014 12012 12014 12014 12018 12078 12014 12012
100
10()
10812 10812
- 10814 10812 10814 10814 10814 10812 10833 10834 10812 10834 1,394 Swift & Co
Do rights
Last Sale 7
Feb'09
-181 The Quake- Oats()o..100
iii" Ili- 145- f&ii- *148 150 *150 160
140
Do pref
10212 1-02-58 10314 1-0314
100
10234 10234 10212 10212 *10212 103 *10212 103
Last Sale 112
Unit Box Bd & P Co-100
Apr'09
Do Full pald....
Last Sale 3
Apr'09
---Ho
_
Last Sale 734
Do pret
....
Apr'09
1913
Do Full pa d
-1-514 I5120 207748
2 -11
34 11- -ii" 18
100
20
20
*19
20 *19
20
*19
20
40 Western Stone
zo
1834
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Nov. 5
Interest
Period
Prica
Friday
Nov 5
Week';
Range or
Last Sal%
Highest
Lowest
Pailroads
Chicago City By
100 180 31,h 8 190 Feb
Chicago & Oak Park_100
4 Jan '22
112 Oct 22
Do pref
100
5 Oct 21
15 Jan 22
Chic Rys part ctf "1"...._ 103 Oct 26 11012 J'iy 2a
-150 Chic Rys part ctf "2".._
34 Nov 3 4334 Jan 2
Chic Rys part ctf "3"___ 24 Sep 7 30 J.in 29
Chic flys part ctf "4"
.
812 Oct 2S 1312 Jan 2
2.055 Chicago Subway
iiio 434 Oct 7 2914 Jan 2
113 [inns City lty & Lt.._ 100 35 Feb 24 52 J'ly 7
10
Do pref
100 70
S 8613 May18
205 Metropol W S Elev_100 1518 Sep 13 19 M eh 8
.
635
.._
1)0 pref
100 47 Jan 14
5434 Nov 2
Northwestern Elev__ _100 20 Aug 11 25 May 6
Do met
100 63 an 6 73 May 7
--11 South Side Elevated_ 100 50 Jan 25 61 May
3165 Streets W Stable C L_100 '2914 Apr 13 5134 J lie 1Y
Do pref
100 97 Feb 15 10712 J'ab
1212 1212 1218
8212 8212 8214
*220_ *220
*130 132 *130
*65
67
*65
P110 111 *110
14118 14119 14138
-3-8 152 Yo-
aange lor Previous Yeas
(1908)
778 Jan 30
7134 Jan 6
200 Jan li
1213 Jan 21
5418 Aur 21
101 Feb 24
13) Aug _7
18 J'ne 10
14 May22
10 ma,24
48 J'ne 10
5114 Jan
1 Apr 27
218 Apr 27
2() Meh21
127 Jan 4
1418 May2:
83 J'ne 4
22514 Oct 29
132 J'iy 21
63 Nov
112 Sep 13
14434 Sep 23
1 Jan 2
5 Jan 11
27 Aug 26
608 Nov 5
53 Apr 16
1 Apr 27
218 Apr 2,
3112 Oct 30
140 Sep 23
11/ Jan 18 152 Oct .1
107 Jali 21 12112 J'ly 1
1718 Feb 25 2518 Aug 3
7014 Mch 25 8812 May r.)
117 Jan 9 131)34 Aug 13
34 Jan 26 69 Oct 30
43 Jan 5 47 Sep 16
2012 Apr 2/
9718 Jan 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 Jan 5
12 Feb 25
55 Jan 5
101 Jan 5
10012
9
6 Feb 5
119 Jan 5
9513 Jan 2
58 Feb 19
214 Feb 26
334 Mehl()
1012 Meh
15 Feb 113
21 J'ne 2a
11914 Sep 27
130 Sep 21
100 Oct 1
121) Apr 1
11978 Aug 111
1 ?lch zu
14414 Oct 20
12134 Oct 20
11414 Aug 6
20 Jan 18
152 J'ly 28
10312 Aug 12
158 Men 20
318 Men '2
912 Jan 4
20 Nov 4
25 Mch 15
Lowest
Monett
160 Jan
158 Feb
612Dec
8434 ,l'uc
38 Oct
20 Nov
934 Sep
15 Feb
311 Oct
68 Sep
1214 Nov
42 Jan
1334 Aug
46 Aug
42 Aug
2612 Apr
85 Apr
185 Deo
34 Aug
10 Aug
)10 Nov
J'ne
28 Dec
1312 Deo
3012 Dec
4734 Nov
8612 Nov
19 Jan
64 May
22 Dec
6212 Dec
71 Jan
34 Nov
10J Jan
4 Feb
1038 Nov
7678 Dec
4112 Jan
125 Jan 200 Dec
116 Apr 12814 Nov
37 Mcl, 63 Nov
104 Nov
91 Jan
It Dec
3 Dec
:SU
100
Jan
May
40 Feb
Oct
2 Nov
20 Dec
100 Jan
34 Feb
100 Jan
80 Jan
5714 Deo
lb Aug
4 Apr
301, Aug
153 Sep
234 Feb
116 Dec
110 Oct
113 Jan
30 Jan
38 J'ne
13/ Aug
4212 Dec
40 J'ly
19 J'ne
70 Jan
10134 Jan
61 Mcli
91 Mch
8012 Jan
'10
97
120
87
115
10d
'24 Jan
72 Jan
8812 Jan
56 Dec
102 Dec
10534 Sep
11434 Jan
87 Jan
14 J'ly
134
100
J'ly
Deo
Aug
Dec
Nov
Dec
Jan
J'ly
134 Jan
112 J'ly
12
Jan
1134 Oct
17
Apr
Chicago Banks and Trust Companies
13 Ws
sota
Bid
Aik Low
High No,
Amer Strawb'a 1st 64_1:4. F - A ---- ..... 100 Mch'07
Armour & Co 4;0_1030 J - D ____ ---- 9312 Oct '09 __
________
Aurora Elgin &Chic 5s 1941 A - 0 ____ ____ ___
Cal & So Chic fly Co
1027
F
A
:____
10218
102
M
5s
1st
J'ne'09 -Cass Av & F G (St L)5s '12 1 - J -- ---- 10114 Oct'09
Chic Board of Trade 481927 1 - I) ___ ...100 blay'07 -_
10314 3,3
Chicago City fly 53_102/ F - A 1031q Sale 103
Chic Consol Br & Mit Gs_-- / - J --- --- 103 Apr'04
Chic Consol Trac 4;is 11;q:9 J - I) _.... -___ 50 Apr'09
Chic Auditoriumlst 5s10215 F - A -- ---- 9634 Jan'06
____ ___
Chic Dock Co 1st 43_1929 A - 0 ---- -__ ___
Chle Je RR 1st 11 g 53_194". .51- S ---- -___
_-_ I/ Fe-b'06
Chic No Shore Elec 68.1f.12 A - 0
04(2
85
I)
Chic Poe Tool 1st 5s_a1021 J - J -84 -83
1027 F - A 10114 Sale 10578 10114 21
Chic fly Os
96
9519 Oct' 09 __
Chic lty; 4-55 series "A" A - 0 395
85t-2'
86
11
Chic Rys 4-53 series "13" J - D 3512 Sale
91
91
1
Chic P.ys 4-5s series "C" F - A 91 Sale
1913 F - A 10114 Sale 10114 10114
1
Chic Rys coil 6s
. 10112 July'09 -Chic Rys Fund Gs_1913 F - A
:110
- 4 Wale 101134 10014
Chic Ilys Tern Ct_s 1st 51
i
Chic R I i..i P RR 43_2002 M.- N ___ __ 6612 Aug'08
6612 July'08
Collat trust g 5s-__1913 11- S
Sale
10278
10318
2103
5s._..1923
17
J -D
Chic Telephone
2
Commonw-Edison 55_ 19,:.3 fl -1 S 1923 Sale 10212 10234
Chic Edison deb 68_1013 J - .3 ........100 Jne'08
10038 Oct '09 -1st g is__July 1023 A - 0 07 .60 100
-.. 10088 Aug'09 -Debenture 5s_ __192; )1 - S _
2
53b104' M - S :10738 -____ 10212 10212
Commonw Elect80 Dec'03.._
Illinois Tunnel 5s____1021 J - D ____
Kan City fly & Light
1013 31 - N -- ___. 9834 J'ne'09 --_
Co 5s
96 Mch'09
Knicleb'ker Ice 1st 5s.1923 A - 0
10
85
1028 J - .1 -85 - Sale 83
Lake St E'.-1st 55
__
10 May'05 -_
1025 Feb
Income 55
Mar W Side El13
83
8212
1933 F - A :83 Sale
1st 48
1038 J - J 9-- 8012 8112 Sept'09
Extension g 4s
95
30
94
North West El 1st 48_1011 51- S 95 Sale
No W G-L dc Coke Co 58'28 Q -M - --- 9814 Aug'03 --95 Oct'09
1945 ii, - N -95 -96
Ogden Gas 5s
- 10038 Mch'00Pearsons-Taft 5s
1916 J - D :100
a
98
93
4.40s
M- s too Sale
98 J'ne'09 _4.60s Series E
51 - N 397 ____
100 Mell'004.808 Series F
51- N 5981k ._
Peo Gas L&C 1st 68_1943 A - 0 5____ 121 12134 May'09 --Refunding g
_1947 SI - S 3113 10332 10312 Oct.09
Chic Gas L&C5s__10418 20
14t 581937 J - J 104 Sale 104
1
Consum Gas 1st 58_1936 J - D :10212 Sale 10214 10214
Mut'l Fuel Gas 1st5s1947 Al - N :-... 10212 102 Aug'09 ....„
South Side Elev 4 30_1024 J - J
9412 Bale
11412
9412
3
Swift & Co 1st g 5s___1914 J - J 5100 19012 loo Oct '09 -Union El 'Loop) 53_1043 A -()j- 93
95 J'ne'09 -Union. Pacific cony 43_1911 )1 - N __ ..114 Nov'04 _United Box Board col 6s'.26 _ --__ 377 l86
76 Oct '00 General, mtge 6s
J - J 78 Sale 78
78
5
_
Wo4tern Stone Co 53_1909 A.0
8512 July'08 _-
Itangc
for
Year 1300
AM "
Oulstandtug
Stock
t
Surp.us
and
Pro/Its
1
Div Wend Secure
.!n
1907
In Per- Last Paid
11108 ie^!,
%
0
6
An Dec '08, 6
Jalumet National
$30,C68
$100,000
J-J July '09, 5
Ohicago City
186,242
500,000
9314 968 ; Commercial National_ 7,000,000 3,343,646 --------Oct, '09, 2
_
8
8
Q-J- Oct. '09, 2
i'ontinental National
n4,000,000 3,963,090
6
8,98s
6 Q-M July '00, 112
50,000
)ook Co State Savings
12
Q-J Oct. '09, 3
102 10212 Jorn Exchange National 3.000,000 5,283,593 12
27,714
6
A-0 Oct.' 09, 5
101. 10114 Drexel State
6
200,000
8
934 Q-J Oct. '09, 212
409,369
Drovers' Dep National_
600,000
31,905
6
6
Q-J Oct. '09, 112
17(12-34 105
Eing.ewood State
200,000
12 Q-M Sep 30'09,4
First National
8,000,000 8,220,177 12
162,118 10
10 Q-M Sep 30'09 212
50
50
? rst Nat Englewood..
150,000
542,805 Priv ate Ba nit
h'orem in Bros I3'k'g Co_ 1,000,000
418,357
8
Fort Dearborn National 1,000,000
8
Q-J Oct. '09, 2
Damilton National____
152,092
5
5
500.000
J-J July '09. 212
807,040
8
Elibernian Meg Ass'n__ 1,500,000
8
Q-J Oct. '09. 2
-71" -g- [Caspar State Bank____
121,561
10
200,000
10
J-3 July '00, 5
100514 10234 Live Stock Exch'ge Nat 1,250,000
432,415 -___ 10+2 Q-241 Sep JO 09.211
9312 9614 klanrae National
4
Q-F Aug 1 '09, 1
300,000
0:3,864
4
8414 8912 Nat Bank of Republic
2,000,000 1,134,917
8
Q-3 Oct. '09. 2
8
9212 National City
3
Q-.1 Oct. '09, 112
89
209,1124 .....
1,500,000
____ (4-J Oct. '09. 1
69,480 ___
101% 10238 National Produce
250,000
21,4 Q-J Oct. '09, 112
10112 10238 North Avenue
_
67,612 ___
200,000
Q-J Oct. '09, 112
6
15.919
6
State_Sav'gs
50,000
10034 10212 North Side State
8,950
North West State
200,000
____ .....
70,677
Pra tie National
250,000
a Z4--Ti Sep '59, 112
8
40,940
034 03
500,000
-4 Pra.rle State
2 __ Jan '08, 2
4
12,173
101 10314 Railway Exchange
250,000
153,426
300,000
Security
0
78,211
6
Q-J Oct. '09, 112
200,000
034 South Ch!cago Savings..
11
Q-J Oct. '09, 3
10058 10218 State Bank of Chicago
1,500,000 1,465,411 0+1
6
174,5811
7
J-D Sep 30'09,2
250,000
102 10358 Stock Yards Savings
6 M-N May '09, 3
6
96,883
200,000
Onion Bank of Chicago_
13
6
Q-J Oct. '09, 112
65,313)
200,000
:InlonStock Yards State
8
8
Q-J July '00, 2
08
9834 ktnetican Trust & Says- .3,000,00() 2,755.558
812,439
7
2,000,000
7
Q-J Oct, '09, 184
95
06
3entml Trust Co o- Ill
89,160 --114 Q-3 Oct. '09, Di
73
91
!hIcago Say Bk &Dz..- n500,000
6
5,000,000 r1,373,397
0
Q-3 Oct. '09, Vs
)hicago Title & Trust
5,331
3
50,000
4
A-0 Oct. '09, 2
Ntizens Trust & Savings
83
600,000
506,021 10
8+2 Q-J Oct. '00, 212
8612 Jolonial Trust & Savings
8112 8414 Drovers Trust & Savings
200,000
97,307
6
734 Q-J Oct. '09, 2
1,500,000
0214 0C12 'arwell Trust Co
215,532 ....- ---- Q-J Oct. '09, 1L2
08
Q-21 Sep 3009, 4
2,000,000 2,990,604
09
First Trust & Savings
93
luarantee Trust & Say_
08
200,000
10,259 1ncorp ()rated 1908 V.137,p.1138
10014 10012 Harris Trust & Savings_ 1,250,000 1,140,070..Q-J Oct '09, 212
0
96
[Illinois Tru,t & Savings 5,000,000 8,297,291 10+4 16+4
q Oct. '09,4
98
6
98
44,201
Q-J Oct. '09. 134
0978 Kenwood irust&Saygs_
6
200,000
2
39,045
100 10018 L.akeView Tr ist ':.Savgs
200,000
4M Q-J Oct. '09, 114
120 122
gerchants'Loan & TrCo 3,000,000 5,036,106 12
12
Q-J Oct. '09, 3
0
103 104
1,tetropolitan Trust&Sav
243,819
750,000
Q-J Sep30'09,112
2
10334 105
8
Northern Trust Co
set. '09, 2
1,500,000 2,123,341
Ci-J
*
102 10234 North-Western Tr&Say.
6
55,011
6
J-3 .1111Y '09. 3
200,000
10112 102
People's Trust 0: Sans.
100,064
6
200,000
6 Q-J Oct' '09, 2
9312 9634 Pullman Trust & Say ma_
183,263 k8
500,000
Q-J Oat. '09, 2
8
100 102
22,378 Beg. b us.J'ly 12'0 9 V.89,9.141
Sheridan Tr & Say Bank
200,000
34 July '09, 212
3
92
96
200,000
25,651
5
Stockmen's Trust & Say
fInlol Trust Co
8 Q-M Sep 30'09, 2
z1,000,000 1,203,035 ___
70 -8-1)1-2 Western Trust&Savings 1,000,000
Q-3 Oct. '09, 112
6
201,600
6
7014 81
West Side Tr&SavBan:c
64,803 Began bush': is Be pt 5 1908
200,000
Q-J Oct. '09, 112
6
38,514
ffloodlawn'rr&Sayllank
200,000
6
Low High
No:-.-Accrued interes'. must .ienili..ed to 11 Ch'casro b ond prices,
'Bid and asked prices, no sales were math., on this (lay.
t Sept. 1 (close of business) for national banks and Sept. 2. (opening of business) for State
Institutions. :No pica Friday: latest price this week. aDue Dec. 31. bDue June . k Also stock dividend of 33 1-3%. nCapital and surplus t41
be increased, qDividendi are paid Q-j, with extra payments Q-F. r Al of dats April 29 1909. s Bankers and Commercial National banks merged
under namcot Commerela* National, with 27.000,000 capital; V. 89. p. 571. s Capital to b; increased.
Nov.6 1909.1
THE CHRONICLE
Volume of Business at Stock Exchanges
1211
Bid Ask
Industea. and Misce.
Jon Steamship Lines22
Coll ir 4s1917 rcts J&J 1 20
Corn Prod Ref-See Stosk Exc list
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
1418
7 Crucible Steel
100 14
DAILY, WEEKLY AND YEARLY.
e Preferred
1011 837s 84
ICumberland-131:, Copp;:r.f, AA8 814
Railroad
e Diamond Match Co_100 127 128
Stocks.
Slate
U. S.
&c.
Week ending
duPont(EI)310NemPo.100 120 128
Bonds.
Bonds.
Bonds.
Nov. 5 1909.
100 6712 8814
Shares.
Par value.
ePreferred
3812
eGcld 4 343 1936_0 &D 88
$67,000 $10,500
Saturday
[icon's' Lt ec P (Joliet, iii)
345,950 $32,722,400 $1,746,500
3,189,000
25,000
187,000
Ferry Companies
1st 1M 3 CE 53 1956-1-1) 951,
Monday
635,906 60,223,100
B & N Y 1st Os 1911_J-J
91
DAY
90
10
Electric Boat
Tuesday
100 20
259,000
19.000 N Y & 13 R Ferry stk_100 25
4,292,000
35
65
Preferred
720,487 66,771,200
Wednesday
100
60
27,1,000
1st 5s 1922
65
2,000
4,355,500
M-N
Empire Steel
1,083,408 103,399,175
100 13
Thursday
'3.)
SIY&Hob Is May '46_J-D 97
4,820,500
308,000
Preferred
928,727 87,631,050
Friday
100 78
Hol)Fy 1st 5s 1946 M-N 106 107
93
General Chemical_ 100 91
95 100
e Preferred
Total
3,714,538 $350,747,825 $18,409,500 $1,100,000 $56,500 NY & N .1" is 1946_ _J-J
100 104 1137
10th & 23i1 Sts Ferri_100 38
42 Goldfield Consol Mines-10 *7
718
*2
1st intge 5s 1919 J-D 67
72 Gold Hill Copper (vv 1) _ 1
214
Jan. 1 to Nov. 5.
Week ending Nov. b.
Sales at
9( *12
‘• Union Ferry stock 100 30
31
1213
Greene-Cananea
New York Stock
c 1st 5s 1920
97 Guggenheim Explor'n 100 210 225
M-N 95
1909.
1908.
1908.
1909.
Exchange.
ellaeltensack Water Co
91
Short-Term
Ref g 4s '52 op '12 _J 600 89
Notes
181.670,947
154,208,770
4,854,890
3,714,538
Stocks-No. shares_
90
Hail Signal Co
100 50
55
$350,747,825 $445,677,850 W1,601,877.150 $13,101,097,100 Am Clg ser A 4s '11....51-S 98
Par value
012 8
Ser
if
4s Mch 15'12 M-S 97
98
Havana Tobacco Co. 100
$127,500
3158,150
*500
Bank shares, par
111178 10018
Am Tel & Tel g Is '10_J-J
15
20
Preferred
100
Bonds.
6/
1st g 5s June 1 '22..J-D
$173,620 Atlan Coast L 5s '10AI-4' 100 1003s
$618,200
$50,500
Government bonds._
76
Hecker-Jones-Jewell Mill
73,843;990 Cln liam&D4 S63 '08_5I-S 66
32,746,400
1,100.000
5528,500
State bonds
Col
tr
g
4s
1061,
10813
1913____J-J
9612
9714
1st
Os
1922
M-S
737,286,200
18,409,500 30,723,500 1,101,021,600
RR. and misc. bonds_
C C C & St L 5s, June '11 100 101
45
fier'g-Hall-biar, new_ 100 35
- - Hoboken LandecImp_100
$811,607,820 Erie 6s, Apr G 1911 A-0
$19,569,000 $31,257,000 $1,134,386,200
Total bonds
2 1-03-14
Interb B T g Gs 1911 M-N 1-62-1c Is 1910
M&N
9s14
KC
99
Ry&Light
6s
'12_1M-S
2512 -1;;
Houston Oil_
100
3
DAILY TRANSACTIONS AT TILE BOSTON AND PHILADELPHIA
Lack Steel Is g 1910_51-S
1.1S
40
EXCHANGES.
10018PreferredRealty
0,08
991499'
' Hudson
Lake Sh&M So 5s '10 F-A
•Prere
100 100 110
90
978
Lou & Nash g 5s '10..31-S 10
r' Ingersoll-Rand com_100 75
Philadelphia.
Boston.
99/s 1001s
Mich Cent Is 1910
F-A
e Preferred
10C 96
Week ending
Mimi & St L g 5s 'll_F-A 99 9934 nternat'l Banieg Co_100 145
Bond
Bond
Listed !Unlisted
Listed Unlisted
N Y Cent 5s 1910
Nov. 5 1909.
F-A 9978 10018 internat'l Met* Mar-Sec S ti: Its '1st
sales.
shares.
shares.
shares. shares.
sales.
N Y C Lines Eqp 58'10-27 5458% 4.20 International Nickel_100 135
NYNH&H Is '10-'12 100 10134
Pre;erred
Ill
100 89
6,507
$8,600 Norf & West 5s 1910 M-N 10014 10012
10,593
15,496
$12,000
16,866
1st g Is 1932
Saturday
A&0 911- (3215
11,009 Pa RR 5s Mch 15 '10 51-S 10108 100:,: International Salt____100
9,211
19,480
103,500
19,458
24.158
914
Monday
53.1
9819 9914
HOLI DAY
g 5s '11 J&J
55
1st g 53 1951
St L ec San
Tuesday
A-0 / 60
43,600
6,545
26,608
23,878
79,500
8
25,510
4 3,6%g notes'l lop FecA 9512 9612 International Sliver_100
Wednesday.
12
55,400 South By g 5s 1910_ _F-A 9978 10018
23,375
43,539
52,176
14,743
66,000
Thursday
Preferred
100 99 101
49,100 Tidewater Gs, 1013. guar 101 102
12,499
28,193
95,000
41,283
85,269
Friday
1st 6s 1948
J-D 109 111
Westingh'e El&M Os 1010 100 10034 internst Srreit & Reiglot 190
73,891 $172,700
159,993 140,370 s31)9,001)
81,193
Total
Jones & Laughlin Steel Cc
1st a f g Is 1939__M-N 1013 10214
Railroad
Chic(It West com(w 1)100 2834 291. Lackawanna Steel
05
100 02
Is
Preferred (w l)___100 Si
Lanston Monotype_. 20 s1s3; 1915
Chic Peo 63 St L pref.._100 --- ---- Lawyers' Mtge Co___ _101,
250
---- ---- Leh Fe Wilkes-13 Coal 50 125
Deposited stock
Al: bond on es arc now "and interest" except where marked "f."
Undeposited
Lord & Taylor
100 I(h)
Prior lien g 4 3,6
stock_3'30MecS / 83 ---Preferred
100 98 103
Bid Ask
Bid Ask
Street Railways
Street Raliways
Con mtg g 5s 1930_J&J 1 48 _--- eLorillard (P) pref_100 130
New Y rk City
Pub Serv Corp N .1 (Con)
25
40
Income Is, July 1930_ / ____ 10
Madison Se Garden_10(
Biecck St Fa Fut stk_100 19
23
Rapid Tran St Ry 100 240 250 Chleago Subway
80 100
71s 734
2d 65 1919
105
fd-N
o LA mtgc 43 1050_J-J 601st Is 1921
0 106
Manhattan Tran..it__ 20 *02 238
Ft kV & Don Cy std_100 9712 102
• Wy & 7th Ave stit_100 140 fEi"
J C Hob & PatersonAMonongahela It Coal_ 50 *ek
Kansas City Sou Is Apr 1
c Id mt,e 5s 1914__J-J 1 98 101
43 g 1949
SI-N
78
79
Preferred
50 *221i, 2212
1950 (w i)-See Stock Exc list
Con 5s 1048-Sec Ltock Exc list
So 3 Gas El&Trac_100 130 133
Ntorti3a7,e Bond Co
100 1121, 115
Nat Rys of Mexico-See S 0: Ex list
Gu g 53 1953
B'way Surf 1st Is gu 1924 102 104
M-:-• 99 100
North'n Securities Stubs_ 11212 125 1Nat Bank of Cuba
100 1033-4 10434
10412
____
• Cent'l Crosst'n stk_ 10C
No kiwi Co Ity 6s'14 J-J
Pitts Bess & L 5
50 *331. 35
Nat'l Surety
_100 185
- 1st mtge Gs 1922..M-N / 5W- 95
J-J 104 1-0-51;
Is 1028
72
Preferred
Nevada Cons'd Copper 5, *2634
50 *68
50
Ext Is 1924_-__M-N 100 103 eRallroad Securities Cee Con Pk N & E R stk_100 30
Nev-Utah Min & Sm. 10 *114 1506
Pat City con 6s Sil_J-D 117 --Chet'r & 10th St stk 100 80 'JO
613
eNew Central Coal__ 20 40
lli C stk tr cfs ser A '52 9818
2d (is opt 1014__A-0 100
ColecOth Ave Is See Stock Sac list
NY Air Brake 6s-See Stk Exc 1st
Seaboard CompanySo Side El (Chic) Sec Ch 'cage 1W Dry D E 13 & B1st preferred
100 73 75 5 Y Biscuit Gs 1911_M-: /100
971
)
100
101
505
e 1s: gold 5s 1932__J-D
Syrecu•e R T Is '40..M&S
45
Coin & 2dpref-See Bal t Esc list e New York Dock___100 39
50 Trent P Fs II Is 1943-1-D 100 102 Seaboard Air LineC Scrip Is 1914____11-A / 42
81
c Preferred
100 73
250 300 United Itys 01 St LEighth Avenue stock_l
9913 N Y Mtge & Security_10c 235
Co 1 58 eat May '11 M-S
21
c Scrip Gs 1114_1,
-A I 95 100
Cow vol tr etfs
100 20
97
N Y Transportation- 20 *4
West Pao 1st Is '33_1M-S
e 4:;(1 & (Ir St F'y stk_100 200 220
c Preferred
100 6634 67
Nlies-Bem-Pond com_100 104 108
42d St M & St N Ave_100
Gen 4s 1934-See Stock Exc list
Nipissing Mines
5 *1058 1078
and
Miscel.
Industrial
a is); mtgo Gs 1910_M-S -1)-9-12 1-6171-4 UnitRys San Fran See Stk Exc fist
214 3
c Ontario Silver
101
231 inzorne Gs 1015_J-J / 50-._- Wash Ry & El Co
9412 Otis Elevator com
963s 9714 Adams Exp g 4s 1947 J-D ; 94
00
100
100 58
Inter-Met-Sec SO: Each angc
s
Preferred
Ahmeek Mining
100 97 100
Preferred
25 *2t5 :25
Lox Av &PavI
LT' Alliance Realty
,is See SC; Exc ,1st
4s 1951
Pittsburgh Brewing
50 *231: 24
100 115 120
Mel opal St 11;,•-Sce 5th 13r_c list
4112.
(las Securities
50 *41
Preferred
Allis-Chalmers Co 1st mtp;
014
Ninth Avenue stock_100 160 31179
New York
Pittsburgh Coal-See Stk Exe list
S f Is 1936-See Stock Exc list
I1econd Avenue stsel:_10C .......
.7ent Un Gas Is '27 J-J
57
American I3cok
100 150 156 Popelifgeo com(new) 100 52
list
18)i
100
c 1st outgo Is 1009-M-N
Con Gas (N Y)-Sce Stk
100 83 83
American Brass
Preferred (new)
100 118 112
51512 American Chicle com_100 228 232 Pratt & Whitney pref_100 IOU 105
Consol 5s 1943____F-A / 70
75 e Mutual Gas
100 145 10
s Sixth Avenue sto4c 100 115 130 New AmsterdamGas
Preferred
100 105 1013 Producers 011 ____ ._109 125 130
11:115c
Sou Boulev Is 1945_....14 00
85
is consol 5s 1948 J-J E
112 19212 Am Graphophone corn 100 14 ---- ttealty Assoc (Bklyn)_100 133 138
So Fer 1st 5s 1919___A-0 88
92 NY&ERGa- 1st 55 '44 J-J 103 106
Preferred
100 29
-s Royal 13ak Powd com_100 165 110
Third Avenue-See Stock Exc list
j.,) 95 IOU
Consol IS .1045
Amer Hardware
100 13/ I-90 Preferred
100 1137 11u
Tarry IV P & 51 5s 1023 / 50
80 N V & Itlehmend Gas 100 32
45 Am Malting Gs 1914 J-1) 10312 10412 safety Car Heat & Lt_100 140 143
YlrersStilit5s 1946 A-0 85
95 NY&WestehesterL'hVgAmer Press Assoe'n_100 95 105 Seneca Mining
25 *75
Ig
2800029th Sts A '06A-0 //315
25
Deb g 5s 1954 guar_J-J 102 10312 Am Soda Fount com_100
Singer Mfg Co
100 470 485
e Men ty-thIrd St stk_ 10C 200 250 No.: un 1st 5s 11)27.....m.-N 93 109
1st preferred
100 20 Ug" South 1 & S com(w 0_100 1912 20
Union Ity 1st Is 10 _F-A 100 102 • Standard Gas com 100 30 s50
2
6
2d preferred
100
Preferrvd (yr 0
IOC 4914 12
Westehest 1st Is '43 J-J 60
75
c Preferred
1
3
standard Cordage
100
Am St Found new-Sec S tit Its list
itrook Wit
AM 12 1r4
1st Is 1930
27
1st 51 g Is '31 red_A-0 / 20
A &O 101 104
8s 1935
Atian Avenue RHOtker Cities
70
72
Adjust 51 5s Apr 1 1031 /3
Deb 45 1923
F ecA
Con 5s g 1c31.___ A-0 98 101 Am Gas Fe Elee corn.... 50 *45
46 American Surety
30
5C 215 21/ Standard Coupler corn 100 20
11 13 & W 13 Is 193s_A-0 95 IOU
50 *43
45 American Thread peel 5 *41* 5
Preferred
100 100
Preferred
Brooklyn City Stock_ 10 195 1118
1.mer Light & Tract_100 204 267 Am Tobacco Co com 100 447 459 Standard Milling Co 100 15
18
:Inge
Ilst
Con 5s-Sec Stk Each
1
45
Pre erred
50
10( 10478 106
Preferred
100 110
53
Amer Typorders com_10(
111:InHg•ts 1- t 5s 1941 A-0 1)7 102 Bay State Gas
Si-f\ 84
87
1st 5s 1930
Preferred
100 98 101
Illtin ,
, ueens Co 63 Sub312 4 Standard Oil of N 0_100 702 705
BingiVt'n (NY) Gas IVks
Amer Writing Paper 100
1.11' 101
s 1st g 3. '41 op '1G_J-J
1st g 53 1033
27 Swift & Co-Sec Bost Stk Exe list
A630 s3--- 100
Preferred
100 25
Con guar 5s-Sec Stoch I3x..3 list
8s12
Brooklyn Un Gas-SeeStit nxe list
1st 51 g 58'10 op '09_J-J 37
1st 58 1910-1G14___J-J 190 10072.
illtlyn Rap Tian-See SU( Ex•-: 1st liulfa;o City Gas stk_100
12 'Texas Company
7
712 AtiGfScWIndSSLines_ 100 11
100 100 105
Coney Isi
85 100
1st Is 1947-See Stock Exo list
27 eTexas & Pacific Coal 100 90 100
Preferred
100 24
1st ^oils g 4s 11148.._J-s 80
CO Con Gas sf N Is '36_J-J 90 94
J-J /-___ 6934 Citle Ins Co of N Y___I00 153 158
Col tr g 5s 1959
Con g 43 1955....-J &J 75
81 Consumes L II & Pow60 Tonopah Alin (Nevada) 1 *fi118 634
Barney & Smith Car.._100 n30
13r1c C 64 N 53 1939 J-J
58 1038
95 100
10
Preferred
100 100 a 110 Trenton Potteries corn 110
Gr'pl&LorSt 1st Gs M&7.
19
10
Denver Gas & Elec__-_3
E LI'Bethi'm
0 1
65
1-0D
Preferred, new ____130 55
Steel Corp-Sec tk Ex list
Kings C E. 4s-See Stock 5
7Z- 113T
Gen :
f Is 1949 op..31-N
30
95 9612 1311ss Company cons_ 50 130 --- Frew Directory
100 27
Nassau Ele • prof
_
100
Elizabeth Gas Lt Co_ 100 275
50 135
Union Typewriter corn]00 66 69
Preferred
Is 1044
A-0 NI' 107 - Essex 63 Hudson Gas_100 135 1-5-8 - Bond & Mtge Guar
100 112 115
1st preferred
100 270 :fit;
lit 45 1951-See Stock Ex.z lis", Gas 43 El Bergen Co-100 74
70
2.1 preferred
Borden's Cond Milk_100 120 123
100 112 115
181 ex 4343 90
95 e Gr Rap 1st Os '15_11-A_ 101
54
N
Preferred
United Bk Note Corp_ 50 *52
100 106 109
107 Hudson Co G
31 133
Steinway 1st Os 1922_ _j-J
Gas
British Col Copper.
Preferred
5 *718 738
50 *5212 5418
Cities
Other
70 Butte Coalition Mining 15 *2958 30
indiana Lighting Co -27
130 168- 30
United Cigar Mfrs__ _i00 78
80
212 4 e preferred
45 1058 op
Buffalo Street Ry100 1071: 110
Casein Co of Am cons_100
F-A
A-50
0 80
25
1st =sot 58 1931S-A 10712 1081, Indianapolis Gas
90
40
100
100 63 70
United Copper
Preferred
814 858
A-0 10/ 108 •
Deb 03 1917
1st g Is 1052
Preferred
100 21
30
Casualty Co of Amer_ _100 125 140
96 Jackson Gas Is g' 37 A-0 95
Columbus (0) St Ity_100 94
100 215
U S Casualty
100 131 133
Celluloid Co
Preferred
100 103 105 e Laclede Gas
8
6-1- Cent Fireworks com 100
10
•
(10
6
100 60
9 U S Envelope com
08
9 1
__.100 I0
Colum By con 5s-SeePhl la list
e Preferred ___
100 115 118
100
Preferred
65
100 55
Preferred
CrosXwr. 131 54 '33 J-D 103 106 Madison Gas tis 1926_A-0 103 108 Central Foundry
214 3 U S Finishing
100 118 130
100
s Conn Ity & Ltg com_100 7912 7612 Newark Gas Os 1944 Q-J 130
100 110 115
15
Preferred
.100 13
Preferred
80
e Px(evreC
85 Newark Consol Gas_ _100 100 1-01 72 U S Steel CorporationDeb Os 1919 op'01_M-N 68
1st An1 ref 4 K;-See Stir Exe list
a Con g Is 1048
Col tr s I Is '51 opt '11 11434 11518
J-D 100 107 Chesebrough Mfg Co...100 550 580
Rapids
Grand
Ity
100 105 107 No Hudson L It & PowCol tr s 1 5s '51 not opt 11434 1151g
100 621: s65
City Investing Co
Prefe:red
101 87 80
Is 1938
eamA
.
M
) 110
10C 08 103 U S Tit Gu ec Indem 100
5412
60
Preferred
e Loulsv St 55 1930_JOJ 1061t 10634 Pacific Gas 63 5,
100 102 -- cUtah Copper Co-See Stk 1Firo list
67 eCiaflin (H B) com
Lynn & llos 1st 58'24 J-I) 11512 107
Preferred
10C 83 --- Waterbury Co com_100
elst preferred
100 z 89
91
2414 Pat & Pas Gas&Elec_100 94
Now On Rya & Lgt_100 24
e2d preferred
100 92
97
Preferred
100
5834 1914
101
c Con g 56 1949
95
c Preferred
M-S 101 10212 Col & Hook Ceal&I p1100 78
Westchester & Bronx Tit
Gen M g 43,63'35 SceS tk.Ex list St Joseph Gas Is 1937-J-J 93 97
95
& Mtge Guar
J-J n 90
1st g Is 1917
100 155 155
Pub Serv Corp of N J_100 103 106
()el Sr Os Oct 1950 J-J n 98 104
Electric Companies
Westingh'so Air Brake_50 *141
Tr Ws 2% to 6%perpet 119 100 Chicaeo Edls n Co-See C hien o list Comet Car Heating...100 25
30
West 111 & Mfg 5s-SeeStk Exc list
North Jersey St Ity_100 60__ . Kings Co El L&P Co 100 131 133 Cons By Lgt63Refrig_100
White KnoI) Min
10
79 -8-01
51-N
. Narraan(Prov) El Co-50 *9112 93 Consol Rubber Tire -100
1st 4s 104"
10
Preferred
77 NY& El L&PowCo_100 45 -. Preferred
Cons Tract of N J...106 76
100 19
23
Worthiag Pump pre1_100 106 fir
105 106
Preferred
lst Is 1033
Debenture 48 1951 Aec0 / 3213 40
New'kPasIty Gs '30 3-.1 10$ 110 United Elec of N J.....1
75
2 -18°
0 7
1st fr 4s 1040
4
J-D 7914 -708Per share. a Ex-rights. S 13asis. e Sells on Stk. ,
I x., but not very active 7 Fiat price. ti Nom. s Sac price, z Ex-div. Ex-righSs. r New stook.
felegrap:i 6: Telephone
e Amer Tcleg & Cabic..100
Central & So Amer..ice
Comm'i Un Tel (NY)- 25
('Imp do Bay State Tel_10(
Franklin
100
e Gold & Stock Teicg_10C
Y & NJ Telepl•-see St
e Northwestern Teleg. 50
Pacific es Atlantic
25
Southern & Atlantic
25
Bid
75
Asq.
s5
__
110 120 11365
.5
5J
43
105 115
I: Exe list
108 115
70 80
92
93
Outside Securities
991,84
p13 M,
BOSTON STOOK EXCHANGE-Stock Record, Daily, Weekly and Yearly
SHARE PR,CES-NOT PER CENTUM PRICE ;
Ocuatuug
.ipaymiug
A .cou.g
•.........c....,,,
.,,,,,,,,,
Od.30
Nov.1
Nov.2
/voo. 3
Nov. 4.
,.,
Nov. 5.
Sates
ol
Week
hares
STOCKS
BOSTON STOCK
EXCHANGE
Rano since Jan. 1
1009.
Lowest
Illohest
Range los P awn. 1'.-as
.1908)
Lowest
Highest
Railroads
12318 12318 *12413 12438
12414 12414 712114 12112 12138 12112
415 Atch Top & Santa 15,3_100 98 Jan 13 12518 Oct 2
67:54 Feb 10114 Dec
*10414 10514 *10412 10512
*10412 10534
Last Sale 10314 Oct'OS)
8513 Mel) 10414 Deo
pret
100 10034 Jan 15 106 3 tie 7
229 22912 *228 230
229 229
228 230 5528
--i( Boston F6 Albany
230
100 225 Jan 4 5394 Apr 8 151 Jan 230 Dec
*130 ___ 130 13012
130 130
129 130
130
287 Boston Elevated
Apr
130
22
.12112 Dec 140 Jan
100 1244 Jar. 1 13213
*228
__ *228
*228 230
Last Sale 228
Boston do Lowell
Oct'09
100 224 Jan 12 235 Alch19 20(04 Feb 228 Deo
15012 11012 15013 1-5115212 153
152 15213 153 153
100 13212 an 2 153 Nov 4 114 Oct 140 Jan
"asii Boston & Maine
Last Sole 152 July'09
Do pref
100 151 Feb 26 160 Apr 3 130 Feb 156 Jan
*299_ 300 300
*299
__ 300 300
--11 Boston & Providence_100 295 Sep 14 301 Jan 9 284 Jan 501 Nov
*-_ -1-814 *---- 1812
*___ 1812
Last Sale 1812 Oct'09
,_Boston Suburban El Cos.. 1134 Jan 2 '22 Feb 3
9 Melt
13 51ch
7514 77
77
7738
4
7714 7714 7712 7714 7714 2,19
77
Do pref
18 Nov
45 Jan
6012 Jan 5 3712 Nov 4
*11
12
*11
12
*____ 1212
Last Sale 11
312 Nov
Boston& Wor Elec Cos
Oet'09
17 Jan
10 May10 1412 ‘1,5112
53
53
53
53
5213 5212 -ia
52
52
52
52
6012.1311
Do pref
4712 Dec
52 Jal 5 3614 Oct 7
Last Sale 165
Chic June By de USY_100 343 :an 25 162 J'ne23 126 Jan 15114 Dec
Oct'09
115
115
ai
Do pref
100 115 Nov 5 123 J'ly 6 102 Jan
1A/12 Dec
....- -- ---- -Last Sate 170 July'09 -- Con & Mont, Class 4_100 170 Jan 20 173 Alch b 163 Dec 165 Alen
...... -._
Last Sale 13913 Itine'09
-.. -- -- --- --Conn & Pass Riv pref..100 134) Jan 2 14212 Mch25 13314 Sep 138 Apr
_
Last Sale 270
Oct'09 ---- Connecticut River
100 267 Jan 15 275 Alchlu 244 Jan 2353 Deo
iii150- iii" iir fii"
151" 13-178 13112 132
13173 13178 157
7 Fitchburc, pref
100 129 J'ly 29 136 Feb 5 117 Jan
133 Nov
9913
9912 100
*98
100 100
99
*9813 9913
100
50 Deo
68 Ga By &I Electri•
67 Apr
100 75 Jan ii 100 Nov 3
435.3.99
__ ____
last Sale 87
*---- 87 *._- 87
Do pref
8812 Sep 15
85 Dec
81 Oct
100 79 Jan 14
_
Last Sale 195
Maine Central
Oct'09
100 195 Oct 11 1954 Jan 13 193 Nov 193 Nov
"M.
-ii" 'II
' 'WI; ;1534 Ti1712 1734 1734 18
1,645 Mass Electric Cos..
10 Oct I
100 1114 Jan 12
1334 Nov
Jan
814
*8113 83
82
81
82
*83
84
8313 83
448
8313
Do pref
64 Nov
100 5812 Jan 15 84 Nov 3
40 Jan
165 166
164 16412 164 16512
16312 165
162
16312 1,619 N Y N H & Hartford_100 157 Jan 21 57478 J'ne 14
128 Jan 101 Nov
LastSale 149 Aug'00
Northern N H
145 Apr
100 146 Feb 4 149 Aug 9 140 Jne
Last Sale 210
Norwich & Wor pref _100 200 Apr 13 215 Sep 2 200 Apr :05 Feb
Oct'09
WI 197371*:::: 115
195 195 5195 195
195
"ioi Old Colony
195
100 104 Jan 5 2001s Jan '5 175 Jan 496is Dec
Last Sale 34
40 J'ne 5
34 Dec
Rutland pref _____
Oct'09
100 26 Apr 27
55 Jan
iiii" fa" iiii- CIT.
116 11612 11614 11614 117
1,5 Dec
"iii Seattle Electric
117
100 1.1014 Mch 2 11712 Aug 1.,
70 Feb
0___,. 104
10312 104
103 103
101 104
(333a Jan
104
104
02 Dec
100
Do pref
100 9713 Apr 5 107 Aug3
20173 20178 20114 202
*20134 202
20134 20134 20312 20418
375 Union Pacific
100 217278 Feb 20 21834 Aug is, 11012 Mel) 18558 Nov
*10312 10412 10338 10338
*10314 10414 *10318 10413 10453 10453
1175s Nov
45
7834 Apr
Do pref
100 9312 Meli 2 11714 Aug 16
170 170
101 Nov
Vermont & Mass..-100 165 Jan 20 176 Am 17 150 Jan
_
;or 1312 "9212
-iji
9112 Sop
76 Jan
50 88 Jan 2 9818 Apr 23
Hi West End St
103 103
103 10314
*103 104 *103 104 8104
30
96 Jan '10 Dec
50 102 Oct 12 112 Apr 27
Do pref
10412
Last Sale 145 July'09
Wore Nash do Roch.-100 144 Alch12 146 Mayll) 138 J'ly 140 Mch
Miscellaneous
4673 4612 4712
46
4712 48
4134 4958 4834 4934 4,713 Amer Agrlcul Chem_100 3314 Jan 2 5014 Aug 12
35 Nov
13 Jan
10112 102
10112 102
10113 102
10112 102
102 102
405
90 Nov
Do pref
100 94 Jan Is 105 J'ly 2J
77 Alcii
873 9
812 9
31.
812
812 834 *812 9
558Jan 26
12 Dec
978 Feb 53
733 Amer Pneu Service
50
4 Feb
22
2214 22
2214 2134 2212 22
22
23 Deo
22
912 Feb
1,672
50 13 Jan 17
2212
Do prof
2212 Nov I
*13212 133
133 134
133 13313 13273 134
13312 13312 1.189 Amer Sugar Refin-100 12112 J'ne22 136 Apr 8
0914 Jan 1375s Nov
126 127
126 126
12613 127
127 127
140
127
Do pref
127
100 120 J'ne26 131 Apr 15 100 Feb 132 Nov
141 14113 14114 14113
14114 14153 141 14158 111
14110 3,000 Amer Telep & Teleg_100 12514 Feb 1 14513 Sep 21)
99 Jan 13212 Nov
36 *36
*35
37
*35
36
Last Srde 35
3238 Dec
Oct'09
American Woolen_ _100 2712 Feb 4 4018 Aug 27
16 Jan
103 10312 103 10312
10273 10334 10314 10312 103
1031. "igO
11612 Nov
Do pref
100 4)312Jan 15 108 J'itil 1 i
7734 Feb
*713 812 *713 812
Last Sale 814
814 Oct 26
412 Dec
Boston Land__
Oct'd
334 Apr 1
10
3 Jan
*713 812
14714 14714 *14714 148
*14614
*14614 __. *14712 1410, "ICI Cumb Telep & Teleg_100 125 Jan 25 14714 Oct 30
9612 Jail 128 Nov
5812 *58
*58
59
2114 Dec
*59 -5913
Last Sale57
- Dominion Iron do Steel- 1813 Jan 11 6014 Oct 5
1434 Jan
Oct'd
1012 1012 1014 1014
10
1014 *10
1373
J'ne 1.1
1012 1014 1073 1,130 East Boston Land
83, Nov
414 Melt
7 Jan 4
*___ 252
250 250
250 250 *_ 252
50
250
73 Edison Elea Illum_100 245 Jan 2 260 Apr 1 201 Atch 253 Nov
*162 16312 163 16334
164 16414 ----- -163
46 General Electric
164
100 15032 Feb 24 173 Aug 7 111 Jan 102 Deo
*7414 7413 7414 7412
7414 7478 75 16
3,396 blassachusettsGasCos 100 59 Jan 5 76 Oct 22
76
70
60 Dec
49 Bell
9312 94
94
*93
*93
94
93
93
131
9338 9312
Do prof
10 Nov
100 89 Jan 5 97 Apr 25
77 Jan
21514 210
21314 21314 21514 21512
21514 21514 21514 2151
286 Mergenthaler Lino-100 10213 Mch 12 220 Feb 17 192 Apr 215 Nov
314 *3
*3
314
Last Sale 314
*3
314
3 Oct
Oct'09
Mexican Telephone
314 Oct 15
2 Jan 5
10
I Mel,
012212 124
12313 12313
12212 124
123 124
12412 12434 -8Ai
161 N D
E0Coptirteofn Yarn
18 Nov
100 63 Apr 29 125 Oct 26
40 Mcli
*115 116
116 116
11534 116
11434 11434 115
115
100 93 Jan 2 118 Oct 16
75 Mel, 93 Dec
135 135
134 135
134 135 *134 136
40 N E Telephone
135
135
100 12614 Jan 5 159 Sep 20 105 Jan 128 Nov
103 *....... 103
*100 107
Last Sale 102
5112 J'ne
Pacific) Coast Power_100 76 Feb 6 108 Oct 13
Oct'09
70 Dec
*190 194
102 193
192 192
191 192
19212 193
-On Pullman Co
100 168 Jan 30 199 Aug '1
147 Jan 17412 Nov
1112 *11
*11
1112
*11
1112
934 Jan 11. 12 Sep 29
last Sale 11
Reece Button-Hole... 10
1013 Nov
Oct'09
9 Apr
10818 10814 10814 10812
10814 10858 1084 10812 10814 10834 -iiii Swift do Co
100 100 Jan 9 11412 Aug 0
8812 Jan 10812 J'IY
*2414 2412 2434 2434
2434 25
2512 2517 26
2611
207 Torrington, Class A_ 25 2013 May21 2012 Nov 5
24 Oct
20 Jan
*27 ____ *27
__
27
27
2714 2714 2712 2711
31
Do pref
28 Oct 9
2612 Dec
25 2414 Jan 21.1
23 May
Oct'04.;
Last Sale 112
14 Mch
2 Apr 2
Union Cop L'd & M'g_ 25
1 Jan 26
2(2 Jan
gig" iii" 1473.4 fii"
14712 1117
.14714 145
; 1461
147
United Fruit
100 12612 Jan 17 167 Sep 231 11413 Jan 148 J'ly
6873 6912 69
69
69
6914 6873" 6913 6912 701 3,254 13n Shoe Mach Corp
6238 Nov
383 Jan
25 254 Mehl') 71 Oct 7
2973 30
30
30
30
2973 30
30
3013 3014
877
Do pref
25 2812 Jan 11 3114 Sep 21
50 Nov
2473 Jan
9058 9014 91
90
9014 9118 9012 9312 9173 93 26,141 U S Steel Corp
100 4134 Feb 24 9478 Oct 4
26 Jail
5834 Nov
12734 12814 12813 12818
128 128 2126.4 12634 12714 12714
122
Do pret
8712 Jan
100 107 Feb 23 131 Oct 4
114 Nov
*1013 1112 11
11
11
11
11
11
11
270 West Telep 416 Teleg_100
11
4 Feb
4312 Nov
64 Jan 11 1234 May 1.
8014
90
*88
90
*88
*88
63
90
89
80
89
Do pref
Deo
89
100 76 Alch 3 90 XII, 1:
59 Jan
Mining
113 Feb
*478 5
5
5
5
5
260 Adventure Con
5
1214 Aug
5
25
6
473 Oct 28 1012 419 V2,
5
*5812 5915 5713 5712
59
*53
5913 5912 5812 581,
176 Allouez
24 Apr
4112 Nov
25 34 Jan 211 82 Oct 1
8813 Nov
86
8634 8534 8634
8633 8834 8814 8038 8714 883. 51,488 Amalgamated Copper 100 65 Fob 20 5938 Nov 4
45 Feb
3612 37
3653 37
3614 3634 363 373
3873 Nov t
25 23 Ale112/
30 .1110
2034 JaAl
373
387i 7,290 Am Zinc Lead & Sm
4814 4814
4958 498 ----------------63 Nov
28 Feb
25 3813 Feb 26 6158 Inc 4
50 Anaconda
.
4513 46
45
45
4534 12
4058 Dec
4512
,2
25 30 Feb 2., 4814 Sep 20
14 Jan
4 1, 1,940 Arizona Commercial
•.75 .99 8.75 .99
.60 .00 8.75 .99 8,75
1 Pets 1,
.90 Aug
10 Arnold
.40 Feb
25 45 Fell 17
.99
11
11
1114 1114
*11
1112 *114 .- 1513 105
8 J'ly 11 18 Jan '1
65 Atlantic!
25
8 Apr
1912 Nov
•.65 .70
.65 .65
*.64 .70
.65 .65 4.63
200 Bonanza (Dev Co)
.65
.25 Oct .75 Nov
10 .45 Feb 16 80 May I
1414 1414 14
1438
14
1412 1412 1478 1434
143, 1,690 BostonCon C&G (rcte) 11
181g Nov
1034 Mchlb
1714 May 8
1014 Apr
2118 2138 2034 21
*2078 21
21
2158 21
211, 2,835 Bos&CorbCop&SliMg
1114 Apr
5 1713 J'ly 14
25 Nov
2814 2812 2773 283.j
2813 2914 29
2973 29
2258 j
Nov
anv 5
301: 17,144 Butte Coalition
15 2132 Feb 24 3014
30 Aug
1612 Jan
101 10234 100 10078
100 101
101 102
1,520 Calumet & Arizona... 10 9614 May 3 111 Jan 4
101
101
53 Feb 130 Aug
070 670
665 670
*660 070
670 670
26 Calumet & Hecla.......... 25 585 Feb 23 695 Aug13 505 Mcl, 700 Jan
655
669
39
39
3912 395* 3913 391;
3912 3912 *.. _ 391
295 Centennial
25 29 Feb 1
4412 Sep 3
3634 Nov
21 Feb
*35 .20
.15 .15 .ii .16
.16 .16 8-___ .16
850 Cons Mercur Gold
1 .10 J'ne213 5.35 .an Is
.26 Alel, ,45 J'ue
81
8034 8114 81
811, 1,470 Copper Range Con Co 100 6812 Feb 26 8514 Aug 12 (
8034 8034 8114 8112 81
)big Feb
83/3 Nov
734 83,4
8
8
8
8
8
3
315 Daly-West
12 Alch 19
712 May2s
20
1178 Nov
7 Jan
1114 1112 11
11
1134 1178 1214 1173 12
1112
6,389 lm Ili
R tivtetr
834 Dec
10 Deo
e Cop Min
1653 Apr 20
74 Feb 1
10
*112 2
*112 2
Elm
*114 2
Last Sate 1
Oct'O
234 Nov
1 Oct 29
12
212 Jan 15
.99 Men
1738 17
17
17
1614 1612 17
012 Apr
17
17
17
1912 Nov
-5i5 Franklin
25 13 Feb 25 19 Aug 3
914 938
Os 973
733 J'nelti 1C38 Nov 5
058 15' 13,469 Wroux Consolidated. 5
034 078
934 978
9934 100
98
97
98
9712
98
98
238 Granby Consolidated-100 90 Feb 26 110 Jan 4
50 Jan .10 J'ly
99
100
1114 1112 1112 1178
1354 Aug
1134 1178 1134 1218 12
1234 Jas 2
673 Jan
9 Feb 20
20
123, 25,631 Greene Cananea
S.__ 11
1118 1118
1214 J'ne 10
814 Sep 10
11
90 Hancock Consolidated 25
1114 1114
712 Aug 1)
614 612
6 J'ly 21
25
638 65,
63.4
634 678 *--15i4 673
8
7; 4,439 Helvetia Copper
*2513 2534 2513 2534
2434 25
255
1734 Feb
25
2614 Jan'
735 Isle Royale (Copper) 25 224 Apr 27 3314 Feb it
25
25
712 Apr 30933 Aug 19
5
85s 834
834 9
834 878
853 812
813
85 '2,075 Kerr Lake
3718 3613 3612
37
2414 Dec
10 Sep
25 16 Jan 30 39 Aug's
36
3612 3634 3634 37
375 4,641 Lake Copper
1412
145
1458
1412
1413 1412 14
1214 Jan
25 1034 J'ly 10 1034 Feb 16
1413 1412 15
1,943 La Salle Copper
1714 Jan
814
6
613 612
1814 May 25
614
638 612
414 Alen 18
25
515 Mass Consol
214 51c1,
614
832 Aug
WI
61,
•.50 .70 *.50 .70
8.50 .70
Last Sale 518
Oct'01
25 .30 Apr 29 .70 J'iy 2 .25 Jan
Mayflower
.75 J'ly
5
5
5
5
5
5
514 May10
5
5
313 Apr 16
5
312 Dec
5
-Fli Mexico Cons M 4S3 S.... 10
8 Jan
16
1614 1618 1614
1614 1612 1012 1718 17
171 11,307 Miami Copper
6 1234 Feb 26 1712 Nov 5
1212 Dec
534 SeP
614 614
8
614
631 612
614 614
612
334 Oct 15 1314 Mch 4
25
65
720 Alichlgan
1512 Nov
714 Feb
6114 62
60
6012 6012
60
25 23712 J'ly le
6112 61
61
7018 Jan 8
61
465 Mohawk
46 Feb
73 Nov
.20 .20
100 NIJntana Conso C & 0 10 19 Feb 11 AO Apr 6
132Jan
2: Dec
"ir ..
0; "2578 Iisi
253s 2552 -2512 ..2114 2612 "271 13,455 Nevada Consolidated
5 1612 Feb 26 2718 Nov 5
7034 Nov
88 Jan
1(j5
1114 1112
1034 1138 1034 1078
1112 1112
3 1C3 2,7 )6 Nipissing Alines
978 Oct 8 13 Sep 21
5
5934 6034 5834 6014
01 20,133 North Butte
5934 5034 6114 6i)
69
4034 Feb
15 4714 J'ly 10 5514 .'al: 2
1934 Nov
(313
7
7
714 712
412 Alch 22 1173 Aug 1)
7
034 7
7313
71 4,835 North Lake($3 paid) 25
0.50 .65 8.50 .65
8.50 .65
Last Sale .60 Sept'01
25 .40 J'ne21 .75 Aug a
.50 Jan
- Old Colony
3
J'ly
5212 53
5212 5234
53
53
53
*53
54
531 1,020 Old Dominion
25 4714 Feb 24 59 Aug 11
28 Jan
6012 Deo
158 158
157 157
4.___ 158
158 158 1._ _.- 158
305 Osceola
25 122 Feb 2, 160 Oct 4
77 Feb 13512 Deo
2913 2978 2934 2934
29
2914 29
2914 2512 29
1052 Jan
3614 J'nen
mis Dec
1,003 Parrott (Sliver & Cop) 10 26 Feb 1
*3713 90
3713 89
88
00
88
86
88
88
25 85 Feb 1
3311 Jan 4
390 Quincy
77 Feb 100 Aug
173 178
134 134 *134 2
134 134
2
2
1,225 Santa Fe (Gold & Cop) 10
278 Jan 8
134 Oct 12
134 Apr
338 Nov
16
1614 1578 161s
1573 1578 1534 16
16
16
177 Jars 4
3,144 Shannon
10 1313 Feb '26
934 Feb
104 Nov
59
59
*5814 59
6012 60
621 7,581 Superior
6014 60
59
3812 Nov
25 34 Jan 5 6213 Aug 3
14 Apr
1433 1412 14
14
14
14
1312 14
1313 133 1.500 Superior&Boston Min 10
1312 Oct 28 1812 51aN 25
1614 11334 1634 1634
1653 1658 1612 17
1634 167 2,740 Superior&Pitts Copp. 10 1213 Apr 21
1842 J'ly b
2018 Nov
144 Oct
68
68
*61312 68
65
66
66
66
85 Tamarack
25 62 J'ly 16 90 Feb 25
50 Mel, 13$1 Nov
10
1014 1034 11
111, 11,2 1,780 Trinity
1133 1134 1112 12
go Aug
1753 jail 23
2. 10 Oct 22
1218 Feb
758 8
1612 Nov
.
---110 United Copper
100
1614 Ian S
758 Nov 4
453 Mcb
3713 38
5713 -3-7-58
3712 3712 3712 3734 3753 -37-3 2,575 United StatesCoal&011 25 28 Jan 12 3814 Oct 18
3534 Nov
9 Alch
55
5512 5434 55
54
5434 5458 5534 5512 5534 11,334 U S Smelt Ref & Min_ 50 39 Feb 25 59 Sep 51
28 Met, 4078 Nov
5212 53
52
52
5278 2,220
52
47 Nov
52
5234 53
52
50 44 Jan 8 54 Oct 4
Do pref
V Feb
413 413 *414 412
412 412
478 1,560 Otah-Apex Alining.- 5
414
7 Nov
411 458
438 Sep
4 Oct 29
634 Jan 21.
4418 4334 44
44
4412 4412
44
44
4414 45
60 Aug
036 Utah Consolidated.... 5 3714 Feb 24 4813 Aug 11
2912 Jan
2553 ma1
50
4938 60
49
5018 501, 51
53 Nov
52
_
328 Utah Copper Co
10 3934 Feb 26 54 Aug 1
314 3171
318 318 *3
5 Nov
312 312
-31
212 Apr
*314 334
70 Victoria
25
3 Oct 28
513 May I,
7
714 73s *7
7
4734 Noy
7)41 1,105 Winona
7
738
7
714
412 Jan
25
434 Apr 31)
838 Sep 21)
150
150 150 *_ _
4.....
150
150 150 .
150
31 Wolverine
"5 139 Mc1115 1513 Aug12 11512 J an 165 Nov
cry_
n
•
n_
r
om.
it
8;;;
50 Stir' :83s Oct
1.685 V., yandot
4 Jan ii.
25
2 Oct 6
c Betore pay't of 3.5sessla called in 1903.
Bid and asked prices. a New stock I Ass't paid. 0 Ex stock dly
P 15x-rights. ; Ex-dly, and rigats.
9234 9234 921-3 92-52 ;9212
ELECTION DAY
12-13
*914 913
.
-aii
834 834
-
Boston Bond Record
Nov.6 1909.1
BONDS
1
BOSTON STOCK EXCIPOE 1,
\Viotr ENDING Nov 5
3•
••• '
•
Week's
Range or
Last Sale
Price
Friday
Nov 5
ii:211 Range
Since
ti".„P •
-"`, January 1
1213
BONDS
BOSTON STOCK EXCH,GE
WEEK ENDING NOV 5
Price
Friday
Nov 5
Week's
Range or
Last Sale
Zia!
1,anee
hince
33-1 January
High N- Low Big&
nigh .10 Low Prgh
451 Low
A 8IC Low
Ilia
Btu
921
1910 J -J
4m Telco & Tol coll tr 48.1929 j.j 921
/
4 27 9134 9614 Illinois Steel deben 52
1004 101 Oct '09 .... 10014 101
/
4 Sal. 02
6 921
/
4 1071
/
4
Non-convert deben 5s 1913 A-0 100%
Convertible 4s.
1930 M.g 1044 105 105
105
101.
101.
/
4
11110012 1011
83 I Ia Falls &Sioux Clst 7s 1917 A-0
.....
Am Writ ranee 1st 8168 g 1919 j J
83 Mar'09 .... 83
117 Apr'08
Kan 0 Clin & Spr lat 5s 1925 A-0 9612 117 12 116;Oct 019
1,7
1,4
ara.(Joni Cop 1st cony Os 1918 M-S
190 Sop '09 .... 130 190
'2 100 10112 Kan()Ft Sd,Gull ext 58 1011
100
00 101
&ten Too & S Fe gen g 48 19115 A-0 99% 100.8 100
100 se),'09
1 0232 9432 Fan()Ft Scott &M 6s
Adjustment g
1928 M-N
1-).
/
4
1995 Nov
114 Oct'OS
/
4 Oct '09L....1•11614 1201
1187 119 1191
14419 Kan CM J8 B gen 4s
Stamped
1934 M-S
936
t)Ti
93% 41 93
93
04
9814121 PO
9314 8a16 11314
Assented income 5s
50-year cony 48
1934 M.
121% Oct'09 .... 10241211*
1
11.11
)515
5M
91
/
4 921
91 Sale 91
5 1 861
J.
-1N
) 120
/
4
/
41201
/
4 Kan C & 31 By & Sr 1at 5 1929 A-0 1041
1201
10-yamrconvt.
/
4 Aug'00 .... 1071
1917 j.D
/
4
104 J'ne'09 ....103¼ 104
734 Maine Cent cons 1st 7s 1912 A-0
64 59
/
4 'DJ
Atl Gull & W 158 Lines 58.'69 j..;
69% Sale 691
1113% Nov'061
1'
11 Cons lat 4s.
1912 A-0
Boston Elect I. consot 60.1924 M-S
110 Fob'04
i10114 Sep'
05'
1001
/
4 Mar'09 .... 10014 10014'Mare Hough & Oat ist 66.1925 A-0
Soatou & Lowell 48
1916 J -J
115 Pne'08
Mass Gas 412s (rectal
11129
104 12 Oct '08
Boston ea 31aino 412s
1944 j4
/
4 100
98 121 511 971
98 Ls liale I 9719
Mexican Central cons 45 1911 J-J
,
1124 Jan '03
Boston Terminal let 3125 1047 F-A
86
8432 86
102 Oct '09 ..I102 102 I 1st cons in° 3s
1918 j-j
Jan 1939 Ply
Bur & Mo lily cons 65
116 Apr'08
9)1.
4
991
/
4
2d cons mo
994 Jan '09
1910 j.j
Sinking tund 48
Jan93
1151
/
4 Apr'08....11
Mich Teleplst be
100 J'ne'01
19l7J.
Butte & Boston let 68- 1917 A-0
Minne Gen Eleo con g 5. 1929 J-J
117 Putt'08
Dedar Bap & Mo It 1.1 78 1916 M-N
"
1024 Ang014
New Eng Cot Yarn 58.-1929 F-A 104 Sale '104
11112Ply'05
1909 J-D
2(1 7s
1044 9 1021
/
4 10411
/
4
904 , Now Eng Teleph5s
81
89
87's
87's
1915 A-0
Dent Vertnt 18t g4s..,Atay1920 Q.ar 88
102 102
102 Feb'09
Ss
19
91
11103 Oct '0'2
19
, A0
1916 A-0
A:0
10012 SeP 'OB
0 B & 14 Iowa Div 1st bs 1
1.1932 1002 New England cons g 5s. 1945 J -J
Iowa Div 1st 4s
9919 Ply'09
Boston Term 1st 4s
Debenture 58
1018 M-N
100 Apr'08
1939 A-0
NYNH& H. con deb 3481
9912 100
Denver Exton 4s
1922 F -A
100 Oct'09 .
18
,
16 j
.1..1
/
4
1091
/
4 Oct '09 .... 976w 1091
Cony deb 6s (ctis)
Nenr,,,ska Erten 45
102 lit ay'09. . 1u119 102
1"27 M-N
1424 14234
1 134 14234
Ohl Colony gold 4.
B & W a t 4a
1921 1•11-81
192 F-A
99 Oct'09
101 Apr'09 ....• 101 101
Oreg
Ry da Nav con g 46 11)46 J-D
Illimma Div 312s
1949 .11-J
891
/
4 1 8914
891
/
4
/
4 Sale 811
• 981k Sep'09
11872 98%
Oreg Sh Line 1st g 61;
Joint bonds See (It Northern
1922 F-A
118% mat'00 ....1 1181
/
4 1191
/
4
ltepub Valley 1st. f 6s 1919 J.J 102
20 1014 104
Ohio Jo lty& SU( Yoe 58.1915 j.J 102 10214 1011
/
4 102
103 Deo'08 ...."......
Rutland 1st con gen 4128 1941 J-J
04
Coll trust reloading g 481940 A-0 91
93 Oct.'09 .......31
02
/
4 Nor'05
1071
......
Rutland-Canadian 1st 4s1949 J -J
/
4 11819
Oh Mil & St P Dub 1) 65 1920 J -J
11814 Feb'09 ....' 181
102 31iit'02
......
Savannali Elea lateens:50.19152 -3
D11 M & St P Wis V div 651920
981
126 Feb'05
/
4 alay'06
Seattle Eleo 181 g 5s
Ohio & No Mien 1st gu 55.1931 M-N 102%
1930 F-A
103 Sep'09,-. 101 103
1041
/
4 Oct'09 .... 104 106's
1929
Ohio & W bitch gen 5s
18xf.413
.1
106 Ply'09 .. 102 10614 Terre Haute Flee g Ss
1921 J•D
117 Apr'07
Torr1ng.ton let g ba
Donoord & Mont cons 4s 192() J -D
91 Deo'07'....1 .......
102 Aug'119 .... 102 102
• Union Pao BB & 1 gr g 43.1
14
27
7 .3
1.J
Conn & Pass It 1st g 4a 11,43 A-0
11214Jan'03 .1'
102114 A in '09
1
4
10219 103/
96 11 '20-year cony 4a
96
Current River 1st bs
1104 Pne'09
1127 A-0
98 Feb'09
101101.2
924 Uniten Fruit gen a f 4/
1
4s 1923 J-J
0618 Sale, 1161
Dot Or Rap & W 1st 4s 11)46 A-0
/
4
9632 3 95% 97
9012 91 Oct'09 .... 87
971
/
41 6 961
/
4 U S Coal & Oil 1st s f 6s 1938
/
4 971
155 Sate 150
Dominion Coal 181 s f 53 1940 M-N
155
971
/
4 Sale 07
8 120 155
S Steel Corp 10-60 yr 511 1963 M-N
105 Oct'09 .... 1021
Viten burg 48
1915 M-8
/
4 Apt'05'.....
1031
/
4 1081
/
4
West End Street Bv 413.-1915 F-A
96 Apr'08
1001
/
4 Apr'08)
1927 M-8
4,
1004 1001
/
4
/
44
Premt Elk es Me lat 66-1933 A-0
1014 J • ne'09
11114M.5
10014 102 9
133 Mar'09. 133 133 II Gold 41
deoentnre
Gola
4s
1916
Anr'Ob
.
Unstamped 1st 68
M-N.
.
.
1938 A-0
140
1)01
/
4Sep '09 .... 991
/
4 1001
/
4
Gold 44
..
93114 99 I
19171 F-A
0632 Sale 9534
9632
Eft Nor° Ii & Q cell tr 4s1921 .7•1
1001
/
4 Oct
.... • 9919 100%
Registered 4s
911
1021 Q-J
9632 80 1)534 9812 Western Teleph & Tel 55 1932 J -J
954
993s 9584 98
1184 5 96 1001
/
4
Wisconsin Cent lit gen 451194111J -J
,1
95/
1
4Apr'011
93% 95i
----1 ...
113
Nova-Buyer pays &earned interest in addition to the purchase price for ad Boston Bonds.
No price Friday; latest bid and asked.
I Flat price.
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
Share Prices-Not Per Centum Prices
SaturdaV
Oct 30
Tuesday
Nov 2
Monday
Nov .1
13
.12
•40
40
40
845
45% .45
4534
4534 46 , 461
/
4 Ws
•1214 121
/
4 *12,
4 124
58
58
583 581*
2241 221
/
4 221
/
4 224
*72
73
73
7314
all's
27.2 2734 2719 273
114 115
115 lib
98
1)8 14 1181* 0834
741
/
4 74,
, 7432741312
48% 419 481
/
4 43
131
/
4 131
/
4 131
/
4 1314
2519 2534 '211-/
1
4 283
8114 Slip; 81322 81,4
6,11, •66, 8.1.1
81.4 51% 52
523
897 120 1 00
1.101
/
4
PHILADELPHIA
91
o
8
117
I Bid I Ask
Inactive Stocks
Allegheny Val prof....50
50,
American Cement
100
Amer Plpe Mfg
ell Telephone (Pa) 100,
60,
anibriii Iron
Central Coal & Coke.100'
Oonsol Trao of N J...100
Diamond State Steel 10
10
Prelerred
Eaatou Con Electric 5 50
Eleo Storage Salt....100
Preferred
100
100
-Wayne &W V
ermautown Pass
50
ndianapolia St
100
Indiana Union Tr
100
Insurance Cool N A..10
Inter Stu Pow &Chem.60
Keystone Telephone..50
Preferred
50
Keystone\VatcliCase.100
10
Lit Brothers
50
Utile Schuylkill
MlnehlU & Schuyl H 50
N Haven Iron ds teel 5
50
Not thorn Central
North Penusylvania 50
Pennsylvania salt
50
penusylvanla 8teel..100
Preferred
100
Phila Co(Pitts) pref...50
Phil Uermau& Norria 50
50
hula Traction
Railways General
10
ilusquen Iron & Steol..5
10
Mimiter Steel
10
Pr.tarred
Tonopah aiming of Nevi
100
Union Tr of Ind
Vnited N J 11.11 &0 100
Unit Trao Pitts pref..50
Warwick Iron& Stee1.10
West J creep & Sea Sh.50
Westmoreland CoaL...50
Wilkes bias ds Elec 100
r
40
13
106
.121
/
4
ariday
Nov 5
1
37 •
.33
.131
821
/
4
106 106
18
18
.34
36
.13
14
Range BOW
Jan I 11109
Lowest
highest
'Range for Previous
Year (11)011)
I
Lowest I iilohe.ti
Minimum/
,
Con. Gaa El. L. & Po vs.100 30 ?dar 8 421
/
4 May12 20 Jan 30 Dec
Do prof
46
100 76 Marla 89 May18 65 Mar 81/
1
4 Deo
103 Northern Central
50100 Jan 4 111 Jan 16 80 Jan 102 Deo
75 Seaboard(new)
100 1134 Feb25 211
/
4Pnel4
4 Feu 16 Deo
I
Do 26 prof
100 224 Feb24 41 31.117 10 Fob' 26 Deo
2 United By 16 Electric 50 1134 Feb 3 14% Aug16 10 Jan 12 Nov
1
11AmencanCemenb.
*40
.40
4014 40,4
50 37% Apr13 43 Jan 2 321
/
4 3Iar 43 Dee
12 American Hallways._ 50 44% Ply 8 4634 1,eu 16 42% Mar 4619 Nov
/
1
4
45% 45/
451
1
4 *45
/
4 •4514 45'
465,1 464 471
/
4 6,675 Cambria Steel
46
60 32% Feu 23 49 Sep 21 26% Feb 401
461
/
4 46
/
4 Deo
12
323 Electric Co of America 10 x.1072 Jan 20 127 Ply 14
1214 121
/
4
1'21
/
4 1232' 12
/
4 Deo
/
4 Jan 111
81
581/4 581/4 581
'
15,4 591
355 Elec Storage Battery 100, 43 Jan 30 634 J'1y 30 2419 Feb 47'. Deo
/
4 581
/
4
/
4
221
/
383 Gen Asphalt tr °Us- 100 154Jan 5 '2511
4 23
22,
4 2234
/
4 Feb 1.•
'2219 2234
312Jan 19% Dec
15461
Do pref tr ctfs- 100 53 Jan 5 75 Oct 4 19.
'7314 73% 7314 7314
24 an 594 Deo
/
4 7314
731
13
465 Keystone Telephone
11.; 111
13
/
4 1214 1334
50 9'2 Jan 21 15 A pr 19
41
/
4 an
9 May
171
/
4 '27% 21 12 27 12 1,813,Lake /Superior Corp
100 1434Jan 5 33% May 8
'27', 97%
3% Feb 17 Dee
6341Lenigh 0& Nay tr ate 50 96 Jan 5 12114 Augl 1 781
114. 1 / 5
/
4 Jan 9732 Dec
11119111', 114'4 115
9..132 9,304 Lehigh Valley
981
/
4 99% 139
99'4 0514
50 67 Fab 23 113 Sep 21 52% Feb 7634 Dee
73112 7.1% x7t4 72 10,971 Pennsylvania lilt
7341 '14
/
4 Feb24 75% Sep 29 541 12 Jan 66112 Dec
50 631
.48% 19
1,118 Pluladelp'aCo(Pittab) 50 401
4111
/
4 489 49
49
/
4 Feb24 491
/
4 Atigla 344 Mat 44% Dec
1312 1314 131
/
4 1314 2.757 Philadelphia Electrict 25 11 14 Fob23 131* Oct II
13'e 131
/
4
512 Feb 121* Nov
271
/
4 '2732 29,162 Philo Rapid Transit
/
4 '2812 27% 27,
4
271
50 24% Jau 3 3134 Ani 28 d12/
1
4Pile 2514DV)
32,
Reading
1
3,0.36
5114
/
4 811
81.2 811
/
4 1?e1;23 861
/
4 814
50 5111
/
4 Sep 21 46312 Feb 711116 Dec
65
. 275 Tonopah 31ining
658 658
634 611
/
4
1 534 Jan 16 71312 Mani°
37,Jan
9/
1
4 Apr
53% 5334 53% 53% 8,0311U oleo Traction
5314 64
50 50%Jan 5 587 Slay 4 x4412Pne 531
/
4 Apr
/
4 7,028 United Gaa lmpt
/
4 Feb 6 I 7312.1an 1/134 Dee
_ 8919 uuil 8934 51.1% 110 1111
_50 81% May13 941
PHILADELPHIA
Rid I Ask I
PHILADELPHIA
Ph (lb Read 28 58'33.A-0
Bonds
Prices are all "and
Con M Is 1911
3-1)
40
interest."
Ex Imp M 4e g'47 A-0
Al Val S. ext 7s 1910 A-0
Terminal ba g1941 (4-F
120
Alt &LVEleo412s'33.F-A
P W & B col tr 48'21 J4
46; 4034 Ain Rya cony 55 1911.J -D
Portland By 1st (is 11330.
0834
Atl City let 58 g 110.31-N 105
Roch By& Leon 5s'64J-J
77
Berg& EBrw lst 68'21.14
' Spanish-Am Ir 62'27 .14
13ethle Steel (is 1998.(4-F 117
Trao bud gen 58'19.J-J
Choo& Me 1st 58 1049 J4
Uu By.Tr otts 48'49J &J
Ch Ok 88G gen Wilt J-J 105 10619 United Rya luv 1st coil tr
Col St Ity 1st con 5811)32
584
I eibs 1926
51-N
Con'rrac of NJ let 152.133 105 '
U 'frac Pit gen 6.'97 J-J
E& A 1st M.53 1920 31-N
Welebach s lOs 1930.J -D
Elec & Poo Tr stk tr ctls 02
924 WIlis-B U&Econ52.53J4
Eq II Gas-1/ 1st g 5s 1928
BALTIMORE
•
Indianapolis By 43.1933
Inactive Stocks
1 18 , Ala Cons Coal& Iron.10(
221
/
4 23
Interstate 4s 1943 ..F.A.
Pret
Lehigh Nay 41
/
4s '14.Q-J. •
10,
13
Atlanta & Charlotte..10
I Rite 48 g
1914.4-1?
.Atlan Coast L ((Min)lle
1 Geu Id 44a g.1024.(4-1,'
Lou V 01st 58 g '33..J4, 109 103 12 Canton Co
10
Cons Cot Duck Corp. .5(
Leh V ext 4s 1st 11148.J-D,
2d7.1910
50
31-8 1014 10'2 12 I Preferred
61
Centel Os 1923
12012 Georgia Sod & Fla .10()
.1-1)'
Annuity
1st prof
10
JD 148 150
(Ion cons 4s 2003.31-N; 9/ I 014I 2d prof
10
Leh V Trau con 48'33.11-1);
0-B-S Brewing
10
107 101) I New Con Gas 53 1918 J-13,1
Rondo
Newark Pass con 53 1930
Prices are all"and
115 1102 NYPIi&Nolst43'39J4
interest."
44
4434
Income 4s 1930...M-N
Anacostia & Pot 55
150
NoOliioTrao con5a'19.J.J
Atl da Ch ext 4
'10.J-J•
89
894 Penn gen 68 1910...Var
, Attain CL ER4.11)5251-8
9
10 I
Consol 58 1919
Atl Coast L(Ct)ctts 55 J-D
Var
' Penn ols Md Steel con 6a.1
Ctbs of indebt 48. .J4
12 Pa de N Y Can 5s '39.A-0
6-20 yr 44 1925
J-J
Con 4s 11)39
,
Balt CPass 1st ba'11 31-1
1
'
A-0 .
8aa
'Ball Funtig 58.1916 3I-N
PenuSteollst 53'17 .31-N
, People's Tr tr certs 48'431 117 12
/
4s 11130 J•J
I Exchange 31
250% 251
P Co 1st& col tr 53'41) 31-S 105 106 , Balt&P 1st6smI'll A-0
21033F-A
Con& col tr bs 1.95151-N 974 9719 BSP&Olst4,
111
/
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Trust certifa 4s.,
76 11 No Balt Div 5511142 J-D
76
P es E gen 31 5 g'20.A.-0
Cent'l lty m1581932 31-N
1; Gen Ili 48 g1920..A&01
1 Est& Imp 58.1932 11-81
•Bid and asked; no sales on this day. 11Ex.rights.
Thursday
Nov 4
/
4
821
/
4 821
106 106
106
82
82
.1054
.17
;12
I Wednesday
Nov 3
ACTIVE STOCKS
I Sales I
I
0/ the
Week(for .Bonds and inactive
Stocks see below)
Shares
.7.50 paid.
*12,
4 paid. $13¼ paid.
Rid
Ask 1 1
BALTIMORE
I Rid 1 Ask
Chas Citylty 18t 53'23 J-J
104 105 ; ; Cliaa ityt & .E1 Os'09.11-S
Chart C& A 2,176'10 A-0
City& Sub 1st 6s. '22 J-D
.1City& Sub( Was)ist58'48
Coal & 1 By let 58'201-A
Col&Gruv 1st6s.1916J
..
163 10314 Cousol Gas 6s...1910 J-1)
1 6s
934 .
G a & Ala 1st co1;19
5s311
'18
'45
.•11
1D
j
Ua Car & N 1st 5s g'29 J4I
844 ' Georgia P 1st 68...'22 J41
84
.
...... 1(ia.So& Fla let 55 1945341
813<'.(1-B-S Brew 3-48195131-S1
28 income 58 11)51 Iti-N1
10112
100
88 1 91
101 '
•
107 .108
103 104
/
4
102 '1021
108 1081
/
4
1001
/
410032
11014111',
1044 105
1041
/
4 105
110 115
10834 109
44
4419
1312, 14
104 11 05
108 I
94 I 96
9-34 901
/
4
107 110
7634 77'4
t
105 '
1024
112 .
112 1
107 1
103 108
LakeR El 1st s
gtursZt-g
Macoulty&LtIst5s'5634
Memphis St let 58'45 34,
• DietSt(Wa811)1st58'25 A1
335 340
Mt Ver Cot Duck latt os.1
1)1,1
Npt N&O P 18[55'38
117
Norfolk St 1st Eat'44..J4
4 1 (3
171
/
4' 181
/
4 North Cent412s 1925 A-0
Series A be 11126. .J4
80
Series II 5s 1i12lL.J-J1
93-a
73
78 I Pitt lin Trac 58 l'397.J.JI
2
212 Poto Val 1st 53 1.1441..J4
Say Fla & West 58'34 A.0; 1u8
Seaboard A L4111950 A-0; 791
/
4 7954
Seab es Roan 58 1926.J.J1 106 108
South Bound 1st 58-A-0 1044A 105
/
4 103
10'21
UE1 Li? lat 4123'2914.Ni 9234 93
12/
1
4 9(134 Uu By& El lst 45'41)11-S, 85% 86
Income 4s 1949
J D; 58
681
/
4
8912
Funding 5s 11136. .J-D, 84
84,
9
03
Va Mid
ser Os '11.31.-S 101 ;102
111034 101
3d aeries 6s 1916..11.81 107 1
105 106 I 4th ser 3-4-5s 1921.M-S' 105 1
1,8
981
/
4 5th series 5s 1926.1.1-S 107 1
101
, Va (State) 3s new'32J490
92
93 11 Fund debt 2-351991.J4 90
108 110 11West N C con 6.1914 J3 lob 10
81
112 114 II WesVa C&P 1st tig'11 J"I' 101 101 141
108
di Weld 58-1925.J4 110 ,114
107
*33 paid. a Receipts. b $25 paid. s$30 paid. d$421* paid.
THE CHRONICLE
1214
[VoL.Lxxxix.
inuestment and Xailroad 31nteilitleuce.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with Ju.y, but covers some other
period. The returns of the street railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
July 1 to Latest Date.
Previous
Year,
Curren'
Year.
Previous
Year.
3
Ala N 0 & Tex Pao
N 0 & N East__r 1st wk Oct
73,000
52,000
862,066
721,826
Ala & VIcksb....,_r 1st wk Oct
35,000
27,000
425,237
378,058
VIcks Shr 450 Pac.r 1st wk Oct
20,000
22,000
371,012
349,204
Ala Tenn & North_ September
6,153
4,540
17,414
13,308
k Atch Top h S Fe_ September 1,732,775 7,924,794 25,434,887 22,433,381
Atlanta Blrm & At( 3d wit Oct
51,947
43,020
742,085
564,309
Atlantic Coast Line September 2,173,130 1,902,600 5,830,732 5,220,512
ollaitimore It. Ohio .. September 7,767,8:16 6,668,412 22,221,337 19,643,003
Bangor& Aroostook September
249,331 282,476
694,466
659,162
Bellefonte Central__ September
5,801
6,965
14,375
17,851
Boston & Maine__ rSeptember 3,983,948 3,648,191 11,653,848 10,442,705
Bridgeton & Saco it August ___
5,068
5,778
10,963
11.147
Buff Roch & Pitts_r 4th wk Oct 289,081 246,720 3,248,760 2,661,864
Butfalo & Susq___r September
236,880 107,827
663,673
540,550
Canadian Northern. 4th wk Oct 457,300 385,200 4,111,600 3,550,300
Canadian Pacific_ _ _ 1th wk Oct 3,224,000 2,446,000 32,574,193 26,419,510
Central of Georgia__ 3d wk Oct 281,900 240,800 3,633,03,5 3,518,863
Central of New Jers September 2,228,715 1,200,734 6,722,657 6,517,401
Ceatral Vermont__r August ___ 341,790 333,745
668,774
622,237
Chattanooga South. 3d wk Oct
1,509
1,623
Chesapeake & Ohio_ ld wit Oct 636,767 536,497 9,578,636 8,306,528
Chicago & Alton By 3d wit Oct 338,480 312,699 4,417,110 4,270,270
Ohio Burl & Quincy September 7,306,737 7,349,378 22,533,347 20,539,146
Chicago Great We-t I th wk Auv
262,415 273.422 1.379.888 1,303.277
Ohio Ind & Loulsv_ 3c1 wk Oct 115,885 112,158 1,870,650 1,743,300
chle Ind & Southern -See New York Con Ira).
Chic Milw do St Paul August ___ 5,550,001 5,339,460 10,769,458 0,991,860
Chic & Nor West__r September 7,237,349 6,537,827 19,733,375 17,523,657
Chic St PM & 0....r September 1,423,223 1,283,902 3,767,217 3,380,070
Chic Term Translift June
91,684
86,082 1,091,817 1,095,518
Cin Ham & Day__r August
820,450 741,564 1,575,490 1,406,387
Cloy On Chic It. St I. --See New York Cen Ira),
Colorado Midland r August
102,110 202,02:3
392,100
395,372
h Colorado & South 4th wk Oct 536,495 528,357 5,607,600 5,241,763
Colum Newb & Lau August
22,408
20,687
42,331
37,930
Copper Range
August
62,558
71,220
140,479
147,020
Cornwall
September
14,633
4,016
42,624
14,288
Cornwall& Lebanon September
38,156
113,738
71,330
24,708
Cuba Railroad
September
158,898 141,227
484,537
422,857
Delaware 63 Hud_ September 1,618,910 1,653,683 4,867,335 4,716,826
Del Lack & IVest_r September 2,940.504 2,783,432 8,995,928 8,259,042
Deny & Rio Grande tth wit Oct 721,500 608,500 8,415,329 7,367,117
Denver N W & Pac. 3d wit. Oct
24,791
13,914
385,397
287,310
Det Tol & Iront Sys 3(1 wk Oct
34,454
37,890
503,878
942,672
3d wit. Oct
Ann Arbor
49,483
44,293
584,259
622,822
Detroit & Mackinac 3d wk Oct
25,367
19,558
392,530
356,092
Dul & Iron Range_r August
1,305,856 940,943 2,750,162 1,922,932
Dul Sou Shore & Atl 4th wk Oct
99,987
79,701 1,225,719
040,327
El Paso & Sou W_r September
554,495 508,732 1,743,579 1,568,443
Erie
September 1,875,173 4,392,661 13,714,456 12,895,010
E'vansvIlle & Terre tiaute-See Rock Is land Sys( .11111.
Fairchild & Nor E
September
1,995
1,662
5,618
4,907
Fonda Johns & Glov September
79,507
67,091
250,468
224,720
Georgia Railroad
September
267,449 257,075
695,392
680,810
Georzia South & Fla -See !-'out kern Ral tray.
Grand Trunk Syst_ 4th wit Oct 1,321,050 1,287,065 15,462,926 14,224,868
Gm Trunk West ld wk Oct 117,832 104,531 1,035,430 1,791,320
Det Gr Hay do MU 3d wit Oct
41,307
34,037
623,185
553,430
35,309
Canada Atlantic_ 3d wit Oct
43,718
765,052
620,845
Great Northern Syst September 6.816,339 5,361,776 17,680,190 14,772,741
Gull & Ship Island_ September
177,432 151,817
414,588
401,290
732,774 618,110 1,008,221 1,793,946
Hocking Valley
September
September 5,053,615 1,830,208 14,723,145 13,746,084
Illinois Central
Internat & Gt Nor_ 4th wk Oct 294,000 342,000 2,835.982 2,723,969
a Interoceanic Mex. 4th wk Oct 170,597 180,903 2,137,229 2,003,185
97,440
4th wk Oct
Iowa Central
88,455 1,148,835 1,038,773
September
229,382 209,180
Kanawha & Mich
681,589
618,260
Kansas City South_ eptember
734,184 689,132 2,158,773 2,177,384
4th wk Oct
55,000
36,000
K C Mex do Orient
575,464
364,535
Lake Erie & West'n -See New York Cett trio.
September 2,887,555 2,926,820 8,568,325 8,287,205
Lehigh Valley
September
Lexington It. East
39,182
35,441
116,526
108,130
Long Island
September inc.144, 460
inc.383, 373
Louisiana & Arkan_ September
110,214
93,654
316,364
282,722
Loutsv fiend & St L September
105,849
88,046
292,254
254,120
Louisville & Nashv_ 3d wk Oct 1,053,173 965,450 15,208,837 14,186,386
Macon do BirmIng'm September
12,854
13,329
34,521
35,571
Mettle Central__ t September
828,413 791,668 2,470,017 2,311,217
Manistique
September
:1,449
3,283
10,189
16.050
Maryland & Penna_ September
40,377
37,942
109,445
104,251
a Mexican Internat_ 4th wk Oct 204,712 162,586 2,556,899 2,271,440
a Mexican Railway_ 2d wk Oct 149,301 132,100 2,230,000 1,902,700
a Mexican Southern 2d wk Oct
25,887
22,716
363,219
350,272
Centra - ice New I/ rk (7entr
Mineral Range
3(1 wk Oct
16,168
15,389
273,543
266.121
Minneap & St Louis 4th wk Oct 154,656 136,047 1,815,385 1,545,531
Minn St P & S S Ml Ita wit Oct 782,814 648,370 8,812,284 7,601,447
Chicago Division)
Missouri Kan h Tex September 2.475,819 2,371,747 6,569,042 6,440,784
lio*Pac & Iron Mt,
Central Branch_f 1th wk Oct 1,696,000 1,546,000 18,166,199 15,929,274
b Mobile Jack & K C Wk Oct 6
35,555
32,214
445,431
404,856
Nashv Chatt do St L September
934,410 930,220 2,781,413 2,689,129
a Nat Rys of Mexico 4th wk Oct 1,307,719 1,276,180 15,523,502 15,010,520
Nevada•Cal-Oregon. 3d wit Oct
10,552
182,592
7,969
131,657
Nevada Central
August ___
5,275
5,480
11,582
13,923
N 0 Great North
September
105,353
41,884
312.442
123.781
Latest Cross F,artrings.
ROADS.
Week or
Month.
..uly 1 to La:es; Dale
Current '
,rufous
Year.
Year.
Curren'
Year.
Previous
Year.
3
N Y C & Ilud Rh% August
8,350,672 7,701,665 1(3,314,867 14,885,463
Lake Shore & S August .._ 4,278.826 3,714,758 3,216,975 6,970,147
n Lake E & West August --_ 497,434 426,067
388,110
816,475
Chic Ind & South August __ 268 812 224.950
537.041
416 819
Michigan Central August
2,428,089 2,144,490 4,694,751 4,085,678
Cleve 0 C & St L_ August
2,620,031 2,294,069 4,017,735 4,383,025
Peoria h Eastern August ___ 201,254 238,391
531,048
455,278
Cincinnatl North August ___ 118,837 110,302
207,168
102,497
Pitts do Lake Erie August --- 1,469,846 1,130.105 2,019,325 2,125,836
Rutland
August ___ 300,1125 266,674
581,132
513,084
N Y Chic & St L_ August
876,322 755,80-1 1,710,120 1,448,545
Total all lines_ __ _ August
21509 542 10097 275 41,518,275 36,301,847
N Y Ont & Western September
713,930 718,546 2,432,353 2,392,189
NYNH& Hart_ _r September 5,354,172 .1,810,232 15,552,160 13,749,187
N Y Susq & West September
318,248 241,133
301,001
736,305
Norfolk ec South_ _r September
209,774 184,193
633,672
546,214
Norfolk & Western_ September 3,033,344 2,505,800 8,507,651 7,382,722
Northern Central
September 1,091,519 1,032,719 3,115,670 2,857,870
Northern Pacific_r September 7,589,330 6,800,961 21,198,295 18,317,155
Pacific Coast Co
August --- 822,735 503,117 1,557,369 1,17:1,106
Pennsylvania Co__ _ September 4,962,547 3,738,263 14,067,027 11,062,050
d Penn-,-F, of P & E September 13844,559 12089,259 10,305,323 35,016,123
d West of P & E_ September
Inc.1,82 6,500
inc.4,42 1,400
Pere Marquette_ _ _r September 1,472,408 1,269,002 4,040,438 3,527,250
Phula 13alt & Wash_ September 1,572,890 1,395,490 4,601,695 4,213,395
Pitts Cln Chic & Stf. September 2,914,635 3,397,685 8,126,621 6,881,347
Raleigh & Southp't September
10,768
9,478
34,171
27,314
Reading Company_
Philo, & Reading_ September 3,677,901 3,386,373 10,280,764 0,316,748
Coal & Iron Co__ September 2,037,895 2,513,762 5,415;154 6,500,556
Total both cos_ __ September 5,715,796 5,900,135 15,695,918 15,107,303
Rich Freder & Pot_ August __ 152,906 118,283
537,633
292,911
Rio Grande June_ _ _ August ___
85,845
65,394
171,36
138,364
12,203
Rio Grande South_ ld wk Oct
8,540
133,274
194,399
Rock Island System September 5,973,173 8,690,375 17,366,909 15,703,610
St L & San Fran_ September 3,721,632 3,331,154 10,677,264 9,35:1,798
Chic & East III_ September
900,667 801,361 2,813,877 2,520,289
f Evansv h Ter H September
220,513 198,992
531,653
645,350
Total ot all lines_ September 10905987 10111882 31,503,399 23,159,355
St Jos t5c Gm Island_ September
147,135 163,075
438,034
443,1331
St Louis Southwest. 4th wk Oct 333,173 333,634 3,771,153 3,409,783
San Peri L A & S L.r September
655,492 532,392 2,118,782 1,654,859
Seaboard Air Line_r September 1,439,456 1,256,342 3,939,662 3,503,830
Atlanta do Birm_r August
84,459
142,267
72,030
162,271
Florida West Sh.r August
6,603
11,659
5,561
13,063
Southern Indlana_r August ___
121,267 113,430
225,504
215,863
C Southern Pac Co__ September 11531003 10481004 33,657,218 30,033.138
Southern Railway__ .4th wk Oct 1,576,872 1,565,385 19,047,503 17,397,434
Mobile & Ohio__ 3d wit Oct 192,777 209,286 3,050,473 2,8:19,820
Cin N 0 & T P___ 3d wit Oct 170,575 144,229 2,607,001 2,337,409
Ala Gt South____ 3d wk Oct
79,470
67,025 1,140,991 1,075,114
Georgia So & Fla. 3d wk Oct
43,501
38,684
654,880
564,815
24,247
Texas Central
3(1 wk Oct
29,205
289.789
325,741
Texas & Pacific
4th wk Oct 572,832 564,600 5,037,271 4,765,907
Tidewater & West.r September
6,748
6,206
19,789
17,377
Toledo do Ohio Cent September
398,653 484,848 1,121,519 1,3(11,625
Toledo Peor & West 1(1 wk Oct
22,162
354,216
22,338
352,246
Toledo St I, & West ad wk Oct
70,489 1,170,903 1,132,163
86,100
Tombigbee Valley
18,851
September
6,230
5,357
15,414
Union Pacific Syst_ September 3,100,373 7,414,595 23,583,841 21,139,749
Vandalla
r September
863,432 797,410 2,301,013 2,247,406
Virginia & Sou West September
102,442 111,191
305,077
301,549
Wabash
4th wk Oct 764,195 723,491 10,023,392 0,133,565
Western Maryland r August
577,598 529,028 1,122,655 1,0(15,778
West Jers'y & Seash September
622,408 550,308 2,205,439 2,022,739
Wheeling & L E_ _r September
645,313 508,824 1,851,142 1,568,106
White R1v(VD2 wks end Oct 0
1,556
1,012
Wrightsville & Ten_ September
37,270
28,123
72,707
60,923
Yazoo do Miss Vall_ September
775,743 764,601 2,136,905 1,086,709
Various Fiscal Years.
Bellefonte Central
Jan
1 Delaware & Hudson
Tan
\fanistlque
fan
a Mexican Railway
fan
a Mexican Southern
Jan
e N Y Central h Hudson River
Jan
Lake Shore & Michigan South Jan
n Lake Erie & Western
fan
Chicago Indiana & Southern_ fan
Michigan Central
Jan
Clev Cin Chicago & St Louis fan
Peoria & Eastern
fan
Cincinnati Northern
fan
Pittsburgh & Lake Erie
fi
ata
la
Rutland
N Y Chicago & St Louis
Jan
Total all lines
fan
Northern Central
fan
a Penn-East of Pittsb & Erie_ Ian
a West of l'Ittsburgh & Erie_ fan
Phlia Baltimore & Washington_ Ian
Pitts Cin Chicago & St Louis_ _ _ fan
Rio Grande Junction
Dec
Texas & Pacific
Jan
West Jersey & Seashore
•fan
Perioa.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Sept
Sept
Sept
Oct
Oct
Aug
Aug
Aug
Aug
Aug
Au
Aug
Aug
Aug
Aug
Aug
Aug
Sept
Sept
Sept
Sept
Sept
Aur
Oct
Sept
Curren;
Year.
Previous
Year.
30
43,627
46,392
30 14,092,511 13,534,230
43,1105
30
:11,454
14 5,025,600 5,034,600
098,310
14 1,057,878
31 58,888,637 53,106,050
31 28,162,033 24,805,737
31 3,055.452 2,772,592
31 1,963,724 1.702,224
31 17,285.120 15,416,587
31 17,125,757 15,233,750
31 1,867,399 1,719,302
731,798
31
538,411
31 8,701,967 6,21:1,551
31 1,951,187 1,746,575
31 6,381,602 5,957,564
31 1.46714726 129352352
30 8,826,764 8,289,164
30 110448272 00,039,272
fnc.9,22 2,500
30
30 13,066,006 11,953,508
30 21,763,381 19,105,890
660,254
31
553,460
31 11,705,438 10,763,466
30 4,603,701 4,205,091
AGGREGATES OF GROSS EARNINGS-Weekly and _Monthly.
Weekly Summaries.
Cur'tai Year Prep's Year Inc. or Dec.
A
3d
4th
1s.
24
3d
4th
1st
24
3d
4th
week Aug
week Aug
week Sep
week.Sep
week Sept
week Sept
week Oct
week Oct
week Oct
week Oct
(47 roads)___
(44 roads)--_(42 roads)____
(45 roads) ____
(45 roads)____
(43 roads)____
(42 roads)____
(47 roads)_
(15 roads) ____
(24 roads) ____
11,780,990
16,740,145
11,521,265
12,317,219
12,936,635
17,285,767
13,209,000
13.437,556
13,572,117
14,089,423
3
10,745,592
15,107,527
10,434,381
11,229,609
11,508,456
15,185,925
11,535,885
11,949,105
12,667,923
13,190,253
+1,035,398 9.63
+1,632,618 10.84
+1,086,887 10.42
+1,087,610 9.69
+1,428,179 12.41
+2,099,342 13.82
+1,673,115 14.56
+1,488,451 12.46
+1,504,194 12.47
+1,490,170 12.71
Monthly Summaries.
Caen: Year Prey's Year Inc. or Dec.
-$
3
3
Month Dec 1903 (798 roads) 205,216.481 103,791.645 +11,424,838 5.90
Month Jan 1908 (894 roads) 183,223,014 173,596,903 +9,628,111 5.54
Month Feb 1903 (893 roads). 174,497,319 161,058,607 +13,438,712 8.34
Month Mch 1909 (890 roads) _ 205,708,319 183,453,006 *22,254,413 12.13
Month AprIl 1909 (805 roads) _ 197,011,530 175,902,618 +2,008,891 12.50
Month May 1900 (893 roads)_ 201,625,122 174,475,411 *27,140.711 15.58
Month Juno 1909 (893 roads) _ 210,357,226 183,033,829 +26,373,397 14.33
Month July 1009 (816 roads) _ I.98,485,,229 175,8118,726 +22,588,503 12.83
Month Aug 1909 (724 roads)_ 225,438,923 107,928,775 +27,560,148 13.92
Month Sept 1909 (49 roads) _ 62,138,040 55,524,845 +6,013,105 11.91
a Mexican currency. b Includes earnings of Gulf & Chicago Division
c Includes the Houston & Texas Central and Its subs diary lines in both
years. d Covers lines directly operated. e Includes the New York & Ottawa, the St. Lawrence & Adirondack and the Ottawa & N. Y. ay., the latter
of Which, being a Canadian road, does not make returns to the Inter-State Commerce Commission. f Includes Evansville h Indiana R1L fl Includes
the Cleveland Lorain h Wheeling fly in both years. h Includes earnings of Colorado & southern. Fort Worth & Denver City and all affiliated lines, excepting Trinity & Brazos Valley RR. k Includes 111 both years earnings of Denver Enid & Gulf RR., Pecos Valley System and Santa Fe Prescott b
Phoenix By, 1 These figures do not Include receipts from sale of coal. a Includes the Northern
Ohio RR. o Figures here are on the old basis of ao.
counting-not the new or Inter-State Commerce Commission method. r These figures are on new
basis Prescribed by Inter-State Commerce Commission.
Nov. 6 1909.1
THE CHRONICLE
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the earnings for the fourth week
of October. The table covers 24 roads and shows 12.71%
increase in the aggregate over the same week last year.
1215
-Gross Earnings--NetEarnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
Loulsv & Nashville_b_ _ _Sept 4,238,299 3,954,648 1,729,442 1,475,513
July 1 to Sept 30
12.137,952 11,284,746 4.784,007 4,002,305
x Maine Central_ b
269,210
308,372
Sept 828,413
791,668
July 1 to Sept 30
805,934
960,736
Increase. Decrease.
2,470.017 2,311,217
1908.
1909.
Fourth Week of October.
197,962
Q Mexican Internat
Sept 656,751
264,247
531,619
5
July 1 to Sept 30
645,268
1,934,095 1,683,122
859,670
22,361
246,720
269,081
Buffalo Rochester & Pittsburgh
Mineral
Sept
15,743
Range_
b
74,966
15,568
72,675
72,100
385,200
457,300
Canadian Northern
July 1 to Sept 30
224,932
45,015
218,882
42,291
3,224,000 2,446,000 778,000
Canadian Pacific
Mlnneap
&
St
8,138
Louisa_
528,357
536,495
_Sept 518,096
446,697 k215,865 k184,794
Colorado & Southern
July 1 to Sept 30
1,260,585 1,100,495 k459,947 k393,272
608,500 113,000
721,500
Denver & Rio Grande
20,286
99,987
79,701
Mo Kan & Texas_b____Sept 2,475,819 2,371,747
Duluth South Shore & Atlantic_
922,605
842,348
Grand Trunk of Canada
July 1 to Sept 30
6,569,042 6,440,784 2,265,919 1,974,963
33,985
1,321,050 1,287,065
Grand Trunk Western
Nashv
934,410
Chatt
&
St
L_
_Sept
930,220
233,470
250,474
b_
Dot Grand Haven & Milw_ _
July 1 to Sept 30
2,781,413 2,689,129
700,720
685,932
Canada Atlantic
48,000 g National Rys of Mex_ _Sept 3,782,155 3,717,049 1,291,602 1,438,797
342,000
294,000
International & Great Northern
10,306
180,903
170,597
July 1 to Sept 30
11,445,063 11,101,879 4,260,663 3,960,432
InteroceanIc of Mexico
8,985
97,440
88,455
Iowa Central
x N Y N H & Hartford b Sept 5,354,172 4,819,232 2,189,752 1,662,020
36,000
19,000
Orient_
_
55,000
Mexico
&
Kansas City
July 1 to Sept 30
15,552,160 13,749,187 6,338,283 4,710,417
162,586
42,126
204,712
Mexican International
N Y Ont & West a
Sept 713,930
158,559
225,635
718,546
18,609
154,656
136,047
Minneapolis & St Louis
July
1
to
Sept
30
2,432,353 2,392,189
786,158
904,500
134,444
S
S
M_
_1
648,370
St
Paul
&
782,814
Minneapolis
Chicago Division
Northern Pacific_ b
Sept 7,589,339 6,800,961 3,540,029 3,533,583
1,696,000 1,546,000 150,000
Missouri Pacific
July 1 to Sept 30
21,198,295 18,317,155 9,723,627 8,711,316
31,539
National Railways of Mexico
1,307,719 1,276,180
Norfolk & Western_ b_ _ _Sept 3,033,344 2,505,800 1,316,123 1,011,115
44,489
338,684
383,173
St Louis Southwestern
July 1 to Sept 30
8,507,651 7,382,722 3,577,341 2,995,952
11,487
1,576,872 1,565,385
Southern Railway
Northern Central_b_ _ _ _Sept 1,091,519 1,032,719
311,213
8,223
253,413
564,609
572,832
Texas & Pacific
Jan 1 to Sept 30
8,826,764 8,289,164 1,696,005 1,950,105
40,704
723,491
764,195
Wabash
x Pennsylvania Co_b_ _ _Sept 4,962,547 3,738,263 2,207,216 1,601,507
58,306
14,689,423 13,190.253 1,557,476
Total (24 roads)
July 1 to Sept 30
14,067,027 11,062,050 6,042,368 4,737,581
1,499,170
Net increase (12.71%)
Pennsylvania-Lines directly operatedEast of Pitts & Erie_ bSept13,844,559 12,089,259 4,571,477 3,629,477
Jan 1 to Sept 30
110,448,272 99,039,272 31,706,401 27,592,601
West of Pitts & Eric_ _Sept
/nc.1,826,500
Inc. 867,400
For the third week of October our final statement covers
Jan 1 to Sept 30
/nc.9,222,500
%
inc.2,847,000
45 roads and shows 12.47% increase in the aggregate over
Phila. Bait & Wash_b__Sept 1,572,890 1,395,490
511,166
394,766
the same week last year.
Jan 1 to Sept 30
13,066,906 11,953,506 3,261,086 2,750,286
Rock Island_ b
Sept 5,973,175 5,690,375 2,048,685 2,003,626
Increase. Decrease.
1909.
1908.
Third week of October.
July 1 to Sept 30
17,366,909 15,703,610 5,954,392 5,025.363
St L & San Fran_ b_ _ _Sept 3,721,632 3,331,154 1,141.737 1,038,986
$
July 1 to Sept 30
10,677,264 9,353,798 3,314,455 2,834,423
55,597
Previously reported (38 roads)_ 13,323,649 11,839,737 1,539,509
268,010
Chic & Eastern III_b_Sept 990,667
891,361
361,006
1,623
1,509
114
Chattanooga Southern
77770:834642
2,813,877 2,520,289 1,042,176
July 1 to Sept 30
13,914
24,791
10,877
Denver Northwest & Pacific__ _
34,454
37,890
Detroit Toledo & Ironton
3,436
Evansv & T Hte_b__Sept 220,513
198,992
97,738
49,483
44,293
5,190
Ann Arbor
645,350
581,658
289,373
237,997
July 1 to Sept 30
4,817
43,501
38,684
Georgia Southern & Florida_
3,388,447
all
Sept10,905,987
10,111,882
3,649,166
Total
lines_b
3,753
8,540
12,293
Rio Grande Southern
28,159,355
8,868.146
Sept
30
31,503,399
10,600,396
July
1
to
6,701
79,489
86,190
Toledo St Louis & Western_
St Louis Southwestern_aSept 972,926
904,253
336,247
260,311
2,625,873 2,488,459
62,900
July 1 to Sept 30
788,254
555,150
13,572,117 12,067,923 1,567,094
Total (45 roads)
.1,504,194
Net increase (12.47%)
Southern Rallway_b_ _ _Sept 4,839,094 4,406,693 1,676,741 1,537,952'
July 1 to Sept 30
13,840,327 12,523,807 4,607,540 4,214,719
Mobile & Ohio_ b
Sept 838,814
783,664
272,645
276,979
For the month of October the returns of 20 roads show
2,444,236 2,254,162
July 1 to Sept 30
767,528
719,616
as follows:
651,988
273,579
Cin N 0 & Tex Pac_b_Sept 764,429
202,182
2,087,556 1,951,857
July 1 to Sept 30
746,975
627,710
286,666
Alabama Gt South_ b_Sept 329,074
87,480
86,571
1909. I 1908.
Increase.
Month of October.
%
July 1 to Sept 30
914,374
884,592
241,931
253,334
16.25
!40,000,298 34,780,929 5,219,369
Gross earnings (20 roads)
Georgia Sou & Fla_b_Sept
188,005
162,178
54,144
60,444
July 1 to Sept 30
528,233
448,762
137,441
143,144
6,7486,206
Tidewater
&
Western_
b
Sept
1,095
433
It will be seen that there is a gain on the roads reporting
19,789
17,877
3,399
July 1 to Sept 30
1,168
in the amount of $5,219,369, or 16.25%.
484,848
153,310
Toledo & Ohio Cent_a_ _Sept 398,653
214,798
388,366
548,956
1,121,514 1,361,625
July 1 to Sept 30
Net Earnings Monthly to Latest Dates.-The table fol- Toledo St Louis & W_a_Sept 317,130
p97,274
p106,066
292,271
p302,269
p335,480
964,357
907,534
July 1 to Sept 30
lowing shows the gross and net earnings of STEAM railroads
227,621
279,380
797,419
Sept
863,432
x
Vandalia_
b
and of industrial companies reported this week:
612,729
679,817
2,391,013 2,247,406
July 1 to Sept 30
-Gross Earnings- -Net Earnings
198,902
599,308
227,202
West Jersey & Seash_b_Sept 622,408
Previous
Current
Previous
Current
Jan 1 to Sept 30
4,603,791 2,495,091 1,345,157 1,062,657
Year.
ar.
Roads.
Year.Year.
Year.
30,394 def108,145
764,601
Yazoo & Miss Valley_a_Sept 775,743
$
$
$
$
July 1 to Sept 30
2,186,995 1,986,799 def81,698 def310,492
56,335
Atlanta Birm & Atl_ b_ _Sept
216,484
July 1 to Sept 30
113,802
594,731
INDUSTRIAL COMPANIES.
483,889
Atlantic Coast Line_a__Sept 2,173,130 1,902,600
649,974
--Net Earnings
-Gross Earnings
July 1 to Sept 30
5,830,732 5,220,512 1,323,213 1,023,946
Previous
Current
Previous
Current
Bangor & Aroostook_ b_Sept
112,799
249,331
99,013
Roads:
Year.
Year.
282,476
Year.
Year.
July 1 to Sept 30
694,466
216,441
659,162
276,334
Elect
Rockland
Abington
&
x Boston & Maine_ b_ _ _ _Sept 3,983,948 3,648,191 1,153,405
981,133
7,681
4,791
3,062
1,776
Light & Power Co_ _ _ _Sept
July 1 to xept 30
11,658,848 10,442,705 3,996,442 3,233,610
40,675
18,647
15,624
50,611
Jan 1 to Sept 30
Cent of New Jersey_ b_ _Sept 2,228,715 2,200,734
979,542
949,039
70,876
42,557
33,821
83,997
6,722,657 6,517,401 2,970,502 2,839,768 Blackstone Vail Gas & EiSept
July 1 to Sept 30
10,358
4,412
4,669
10,419
Sept
Chesapeake ec Ohio_ b_ _Sept 2,732,275 2,308,999 1,133,091
934,406 Demerara Elect Co
89,636
43,457
96,387
38,306
Jan 1 to Sept 30
7,784,877 6,697,036 3,221,667 2,711,719
July I to Sept 30
• 8,854
22,364
16,471
7,520
Sept 1,236,580 1,171,481
Chicago & Alton_a
3550,076
3517,891 EdisonElecCo(Brockt'n)Sept
79,647
67,422
189,021
151,316
Jan 1 to Sept 30
3,591,328 3,379,993 31,476,755 31,534,533
July 1 to Sept 30
38,825
16,354
20,107
36,332
x Chic Burl & Quincy_ b Sept 7,806,737 7,349,378 2,340,643 2,829,150 Fall River Gas Works Sept
123,756
126,753
300,814
292,854
Jan 1 to Sept 30
22,533,347 20,539,146 7,024,511 7,346,178
July 1 to Sept 30
20,644
19,749
11,188
9,988
_Sept
X Chicago & N W_b_ __ _Sept 7,237,348 6,537,827 2,667,936 2,779,789 Houpton Co El Lt Co_
89,949
80,214
167,637
182,196
an 1 to Sept 30
19,738,374 17,523,657 6,908,933 6,849,474
July 1 to Sept 30
10,190
14,364
29,187
26,328
62,558
71,220
24,683
10,934 Lowell Elect Lt Corp_ _ _Sept
Copper Range- b
Aug
100,786
106,152
244,039
255.556
Jan 1 to Sept 30
140,479
147,020
61,228
33,711
July 1 to Aug 31
55,155
47,48581,898
94,013
59,313 Minneap Gen El Co_ _ _ _Sept
Cuba RR
141,227
56,395
Sept 158,898
445,763
397,744
712,726
791,473
Jan 1 to Sept 30
165,755
July 1 to Sept 30
484,537
422,857
156,506
r786,345
Delaware & Hudson_b_Sept 1,618,919 1,653,683
r673,999
here given are after deducting taxes.
a
Net
earnings
Jan 1 to Sept 30
14,092,511 13,534,289 r5,381,502 r5,269,769
b Net earnings here given are before deducting taxes.
g These results are in Mexican currency.
x Del Lack & Western_ b Sept 2,940,504 2,783,432 1,367,871 1,255,857
July 1 to Sept 30
8,995,928 8,259,042 4,251,001 3,580,108
k For Sept. 1909 additional income was $13,783, against $11,807 in 1908,
731,082 and for period from July 1 to Sept. 30 was $41,748 in 1909, against $44,514
Denver & Rio Grande_a Sept 2,131,739 1,977,293
668,823
6,168,929 5,426,517 2,046,973 1,919,543 last year. ,
July 1 to Sept 30
h For Sept. 1909 additional income was $804, against a deficit of $13,557
Duluth So Sh & Atl_ b_ _Sept 310,502
237,717
70,248 In 1908,and for period from July 1 to Sept. 30 was a deficit of $4,523 in 1909,
120,342
904,176
July 1 to Sept 30
686,381
192,631 against a deficit of $10,358 last year.
312,883
Sept 267,449
Georgia RR b
p For September miscellaneous charges to income was $12,416, against
257,075
91,836
56,897
July 1 to Sept 30
695,392
680,810
162,317
78,119 $14,763 in 1908, and for period from July 1 to Sept. 30 was $28,681 in 1909.
$44,838 in 1908.
against
Great
_Sept
x
Northern_ b_ _ _
6,816,339 5,861,776 3,532,323 2,733,422
r For Sept. 1909 net from Coal Department was a loss of $51,549, against
July 1 to Sept 30
17,689,190 14,772,741 8,201,384 5,585,147
a credit of $125,654 last year, and from Jan. 1 to Sept. 30 was a credit of
Gulf & Ship Island_a_ _ _Sept 177,432
29,768 $485,810 in 1909, against $730,999 in 1908.
52,569
151,817
July 1 to Sept 30
491,290
414,588
121,449
54,568
s After allowing for miscellaneous charges to income for the month of
Hocking Valley-b
Sept 732,774
270,825 Sept. 1909, total net earnings were $510,355, against $466,808 last year.
648,110
306,959
July 1 to Sept 30
1,908,221 1,793,946
725,122 and for period from July 1 to Sept. 30 were $1,358,385 this year, against
773,790
Sept 5,053,615 4,830,208
Illinois Central_a
844,675 $1,376,875.
956,434
x These figures are on the basis of accounting required by the Inter-State
July 1 to Sept 30
14,728,145 13,746,084 2,236,217 2,228,206 Commerce
Commission.
Interoceanic
ot
Mexico_
_Sept
512,084
156,476
169,104
489,142
g
466,912
July 1 to Sept 30
1,624,205 1,547,499
523,221
Interest Charges and Surplus.
Sept 316,938
892,500
894,871
Iowa Central_a
282,802
-Int., Rentals, ee.c.- -Bal. of Net E'ngs.840,536
July 1 to Sept 30
780,190 8189,109 8219,509
Previous
Current
Current Previous
57,757
61,498
Kanawha & Michigan_a Sept 229,382
209,180
Year.
Year.
Year.
Roads.
Year.
162,437
681,589
215,222
July 1 to Sept 30
618,260
$
$
x38,587
x27,588
83,294
84,577
4,042 Bangor & Aroostook_ _ _Sept
35,44112,414
Lexington & Eastern_b_Sept
39,182
x1,126
x64,108
244,741
249,460
July 1 to Sept 30
116,526
July 1 to Sept 30
31,081
23,209
18,130
375,877
370,496
603,665
578,543
Central of New Jersey_ _Sept
Sept
Long Island
Inc 144,460
Inc 97,855
1,646,297 1,696,567 1,324,205 1,143,201
July 1 to Sept 30
Jan 1 to Sept 30
Inc 734,365
Inc 616,201
det1,004
12.784
11,938
11,899
Louisiana & Ark_ b
Sept
110,214
44,226
24,627 Copper Range
Aug
98,654
37.353
9,835
23,876
July 1 to Sept 30
23,875
316,364
282,722
113,373
69,155
July 1 to Aug 31
Roads.
-Int., Rentals, da.- -Bal. of Net E'ngs.Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
27,051
21,166
35,229
32,262
Sept
Cuba RR
88,967
96,788
51,286
105,220
July 1 to Sept 30
d497,071
324,410 d381,574
Denver & Rio Grande__Sept 442,180
1,263,655
965,426 d1,077,790 d1,197.518
July 1 to Sept 30
92,845
88,180
x33,742 rdef9,839
Duluth So Sh & Atl_ _ _ _Sept
279,926
264,234
x47,010 xdef47,146
July 1 to Sept 30
x11,902
Sept
60,419
53,426
x42,122
Georgia RR
x11,023 xdef53,924
180,675
163,503
July 1 to Sept 30
x21,993 xdef3,579
34,116
Sept
31,301
Gulf es Ship Island
x29,747 xdef42,064
94,216
98,768
July 1 to Sept 30
x190,317
x232,078
120,143
Sept
Hocking Valley
115,227
x495,451
x554,328
357,324
July 1 to Sept 30
345,461
x42,685
x42,048
22,754
28,502
Kanawha & Michigan_ _Sept
x154,585
x104,374
68 916
July 1 to Sept 30
79,783
x10,541
x26,055
25,605
18,028
&
Louisiana
Arkansas_ _Sept
x61,736
54,986
x26,332
74,035
July 1 to Sept 30
x2,403
x2,706
13,067
13,189
Sept
Mineral Range
38,655
x2,769
39,583
x6,412
July 1 to Sept 30
x370,174
x236,119
Missouri Kansas & Tex_Sept 5553,465 5614,548
x583,277 x256,509
51,691,915 51,738,318
July 1 to Sept 30
64,639
93,920
92,626
133,009
N Y Ontario & West_ _ _Sept
275,329
498,308
287,850
629,171
July 1 to Sept 30
437,060
854,663
Sept 461,460
574,055
Norfolk ec Western
1,388,047 1,314,847 2,189,294 1,681,105
July 1 to Sept 30
39,666
x124,574
42,695
x177,257
Toledo & Ohio Central_ _Sept
119,992 x294,493 x433,271
135,849
July 1 to Sept 30
Roads.
INDUSTRIAL COMPANIES.
- -Bat, of Net E'ngs.-Int., Rentals, ea.
Current
Previous
Previous
Current
Year.
Year,
Year.
Year.
Roads.
$
$
Abington ec Rockland Elect
1,449
2,267
327
795
Light & Power Co_ _ _ _Sept
12,781
14,921
2,843
3,276
Jan 1 to Sept 30
4,252
5,208
3,268
3,646
EdisonElectCo(Brockton)Sept
43,465
49,510
23,957
30,137
Jan 1 to Sept 30
17,657
2,450
14,693
1,661
Fall River Gas Works...Sept
105,542
21,211
21,151
102,605
Jan 1 to Sept 30
4,879
4,494
6,309
5,494
Houghton Co ElecLtCo_Sept
48,495
41,454
37,180
43,034
Jan 1 to Sept 30
6,761
3,366
7,603
6,824
Lowell Elect Lt Corp__ _Sept
40,927
40,710
65,225
60,076
Jan 1 to Sept 30
31,529
32,310
23,626
15,175
Minneap Gen El Co_ _ _ _Sept
282,978
174,442
271,321
114,766
Jan 1 to Sept 30
d These figures are after allowing for other income and for discount and
exchange. The sum of $10,000 is deducted every month from surplus and
placed to the credit of the renewal fund.
S Fixed charges include taxes amounting to $79,999 for Sept. 1909,
• against $114,700 in 1908, and additions and betterments of $23,319 this
year, against $43,205; from July 1 to Sept. 30 taxes were $240,099 in 1909,
against $294,052: additions and betterments were $83,938 for the same
period, against $99,720 the previous year. Prior to July 1907 it was the
practice to include these items in the expenses.
x After allowing for other income received.
Electric Railway Net Earnings.-The following tablegives
the returns of Electric railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is gtven
once a month in these columns, and the latest statement of
this kind will be found in the issue of Oct. 30 1909. The
next will appear in the issue of Nov. 27 1909.
Roads.
ELECTRIC RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Week or
Month.
Current Previous
Year.
Year.
$
$
American Rys Co__ _ September 255,598 240,752
cAur Elgin & Chic By September 149.141 137,387
34,348 32,892
Binghamton St. By _ August ___
Birm By Lt & Power. September 188,364 177,388
12.603
12,833
Brockton & Ply StRy September
11,922
11,978
September
Camaguey Co
22,000 22,006
Cape Breton Elec Co_ September
17,545
Carolina Pow & Lt Co September
62,979 60,868
Central Penn Trac_ _ _ September
60,008 58,125
Chariest Con By G&E September
Chicago Railways Co. August ___ 1088,209 980,166
27,971
31,361
Cleve Painesv ec East September
Dallas Electric Corp_ September 107,570 95,842
3d wk Oct 146,885 129,070
Detroit United Ry
87,217 76,970
Duluth-Superior TrCo September
East St Louis & Sub_ September 176,402 170,028
43,828
50,501
September
_
_
Electric.._
El Paso
43,674 39,742
Fair & Clarksb Tr Co. September
Ft Wayne & Wabash
Valley Traction Co August ___ 133,412 125.587
Galv-Hous Elec Co_ _ September 100,837 91,790
97,626 89,899
Grand Rapids Ry Co_ September
34,697
Havana Electric By.. Wk Oct 31 39,351
Honolulu Rapid Tran
34,525 36,637
July
& Land Co
28,732 23,934
Houghton Co Trac Co September
382,729 342,273
Illinois Traction Co_ _ July
38,375 34,017
Jacksonville Elec Co.. September
Kansas City-Western September
Lake Shore Elec By.. September 108,208 104,072
54,239 58,706
Lax & Inter Rys Co.. July
Milw Elec By & Lt Co September 369,446 335,077
99,820 93,984
Milw Lt Ht & Trac Co September
Montreal Street Ity_ _ Wk Oct 30 74,464 67,955
Nashville By & Light September 154,540 151,055
North Ohio Tr & Lt.. _ September 202,156 172,675
North Texas Elec Co_ September 104,829 88,190
184,430 182,923
Northwest Eiev Co_ _ October
Nor! & Portsm Tr Co. September 158,234 d162,938
26,781
41,468
July
Oklahoma City By
18,694
19,096
Paducah Tr & Lt Co_ September
21,649 17,417
Pensacola Electric Co September
Porti'd(Or)RyL&PCo September 420,778 373,288
Rio de Janeiro Tram
Light & Power.._ - _ September 642,731 643,347
St Joseph (Mo) By Lt
Heat & Power Co_ September
88.286 94,991
Sao Paulo Tr Lt & P_ September 200.496 180.886
Savannah Electric Co September
49,523 48,404
Seattle Electric Co._ September 568,494 385,946
Sou Wisconsin By Co September
13,471
13,551
Tampa Electric Co.. _ September
47,108 43,356
Toledo Rys ec Light_ September 217,737 222,892
Toronto Railways_ _ _ Wk Oct 30 75,218 69,725
Twin City Rap Tran_ 3d wk Oct 132,331 123,366
Underground El By
of LondonThree tube lines_ _ _ Wk Oct 23 112,835 112,820
Metropolitan Dist.. Wk Oct 23 110,378 110,359
15,811
16,159
United Tramways Wk Oct 23
United Rys of St L. _ September 929,329 887,344
642.120 587,733
United RRs of San Fr August
165,334
Virginia By ec Pow Co August
58,789 55,038
Wash Bait & Annan_ September
34,836 28;381
Whatcom Co By & Lt September
Jan. 1 to latest date.
Current
Year.
Previous
Year.
$
2,201,787
1,158,406
230,721
1,646,825
103,903
99,350
170,388
141,318
564,747
570,095
8,068,552
242,206
962,103
6,416,845
723,602
1,481,078
426,875
313,944
$
2,109,912
1,057,915
211,134
1,581,763
96,206
86,145
181,884
533,118
564.896
225,229
824,353
5,714,407
655,121
1,487,855
386,519
287,732
856,257
905,614
792,654
894,605
708,569
776,022
1,699,501 1,577,162
232,209
219.513
242,425
197,409
2,416,947 2,255,790
350,586
316,480
266,914
252,883
835,060
787,210
328,565
321,654
3,116,885 2,866,824
706,129
659,707
3,228,211 3,043,881
1,257,641 1,159,583
1,834,172 1,420,552
770,549
910,119
1,707,708 1,592,007
1,436,199 d1,395,234
148,384
228,194
166,825
170,049
184,050
153,376
3,547,647 3,222,103
5,607,495 5,239,158
722,808
1.776,271
451,817
4,376,670
120,785
436,253
1,981,435
3,149,598
5,574,527
672,232
1,682,180
435,706
3,303,131
116,483
405.980
1,864,822
2,886,653
5,138,083
1526,745 1485,760
1411,809 1380,907
1259,982 1287,757
8,226,385 7.860,625
4,832,778 4,497,944
1,348,720
295,190
260,170
c These figures are for consolidated company. a Includes earnings of
the Norfolk County Ferries.
-GrossEarnings- -Net Earnings
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
7,607
Baton Rouge Elec Co__ _Sept
8,248
Brock & Plym St By.._ _Sept
12,603
12,833
96,206
Jan 1 to Sept 30
103,903
22,000
22,006
Cape Breton Elec Co_ _ _Sept
181,844
Jan 1 to Sept 30
170,388
87,367
76,033
Cleve Southw & Col_ b_ _Sept
579,198
• Jan 1 to Sept 30
666,994
107,570
95,842
Dallas Electric Corp_ _ _ _Sept
Jan 1 to Sept 30
962,103
824,353
El Paso Electric Co_ _ _ _Sept
50,501
43,828
428,875
386,519
Jan 1 to Sept 30
100,837
91,790
Galv-Hous Electric Co_ _Sept
894,605
792,654
Jan 1 to Sept 30
28,732
Co
23,934
Houghton
Trac Co.._Sept
197,499
242,425
Jan 1 to Sept 30
34,017
38,375
Jacksonville Electric Co.Sept
316,480
350,586
Jan 1 to Sept 30
88,190
Northern Tex Eiec Co.Sept 104,829
770,549
910,119
Jan 1 to Sept 30
18,694
19,096
Paducah Trac ec Lt Co....Sept
170,049
166,825
Jan 1 to Sept 30
17,417
21,649
Pensacola Electric Co_ _ _Sept
153,376
184,050
Jan 1 to Sept 30
Philadelphia Company_a4,257,767 3,640,365
July 1 to Sept 30
13,210,150 12,261,314
Jan 1 to Sept 30
179,956
143,121
Puget Sound Flee By.. _ _Sept
Roch Syracuse & Eastern_ b114,087
112,079
July 1 to Sept 30
286,658
314,636
Jan 1 to Sept 30
48,404
49,523
Savannah Electric Co .,Sept
435,796
451,817
Jan 1 to Sept 30
385,496
Sept 568,494
Seattle Electric Co
4,376,670 3,303,131
Jan 1 to Sept 30
43,358
47,108
Sept
Tampa Electric Co
436,253
405,980
30
Sept
Jan 1 to
34,836
28,381
Whatcom Co By & Lt_ _Sept
295,190
260,170
Jan 1 to Sept 30
3,285
3,474
31,847
10,590
64,582
36,856
259,774
33,058
334,093
20,627
166,415
44,474
369,950
14,703
110,725
17,568
148,688
47,043
400,107
8,201
66,712
8,821
79,179
2,187
5,925
26,645
10,301
75,892
30,598
202,386
32,763
248,878
10,490
107,497
45,170
332,045
12,133
85,555
15,645
125,429
38,874
306,556
8,206
67,283
5,381
40,815
1,481,647
5,682,396
72,351
1,249,076
4,807,481
52,878
59,879
147,993
17,493
158,639
263,153
1,862,456
19,855
178,018
15,878
127,503
61,315
174,084
20,742
195,201
175,994
1,356,675
16,652
132,324
11,018
109,523
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
Roads.
Road.
[VoL. Lxxxix.
THE CHRONICLE
1216
-Int., Rentals,
Current
Previous
Year.
Year.
-Bat, of Net E'ngs.Current
Previous
Year.
Year.
Brock ec Plym St Ry_ _ _Sept
1,641
1,833
1,833
4,092
16,346
6,314
Jan 1 to Sept 30
15,501
20,331
5,339
5,528
5,062
4,962
Cape Breton Electric Co.Sept
30,761
18,428
46,154
45,131
Jan 1 to Sept 30
26,426
10,241
20.357
10,430
Cleve Southw & Col_ _ __Sept
221,783
20,950
181,436
37,991
Jan 1 to Sept 30
4,806
7,949
25,109
27,957
Dallas Electric Corp.._ _ _Sept
78,897 def.15,146
255,196
264,024
Jan 1 to Sept 30
3,357
12,442
8,185
7,133
El Paso Electric Co.. _ _ _Sept
42,985
94,417
71,998
64,512
Jan 1 to Sept 30
25,050
21,650
22,824
20,120
Galv-Hous Electric Co_ _Sept
148,500
174,582
183,455
195,368
Jan 1 to Sept 30
4,847
7,170
4,963
6,216
Houghton Co Trac Co.. Sept
42,946
42,609
50,938
Jan 1 to Sept 30
53,787
Jacksonville Electric Co_Sept
6,613
9,032
8,046
9,522
Jan 1 to Sept 30
41,832
83,597
64,026
84,662
Northern Texas Flee Co.Sept
17,190
23,658
15,216
29,853
Jan 1 to Sept 30
154,685
162,300
144,256
245,422
Paducah Trac & Lt Co.._Sept
6,613
1,588
• 1,450
6,750
Jan 1 to Sept 30
61,689
4,840
5,023
62,443
Pensacola Electric Co.. _ _Sept
4,335
1,030
4,351
4,486
Jan 1 to Sept 30
2,467
40,129
39,048
38,348
Philadelphia CompanyJuly 1 to Sept 30
1,144,844 1,117,870 x426,325 x207,765
Jan 1 to Sept 30
3,437,625 3,351,513 x2,466,870 z1,649,802
9,506
23,798
43,372
Puget Sound Elec By.. Sept
48,553
Roch Syracuse & Eastern8,847
1,613
52,468
58,266
July 1 to Sept 30
22,126
151,958 xdef2,827
152,170
Jan 1 to Sept 30
3,188
48
17,554
17,445
Savannah Electric Co....Sept
1,721 def.9,194
154,395
156,918
Jan 1 to Sept 30
156,209
82,648
93,346
106,944
Sept
Seattle Electric Co
929,855
555,622
801,053
932,601
Jan 1 to Sept 30
15,240
4,538
12,114
4,615
Sept
Tampa Electric Co
136,087
25,768
106,556
41,931
Jan 1 to Sept 30
7,809
8,946
2,072
8,069
Whatcom Co By et Lt.. _Sept
72,957
53,213
36,568
74,290
Jan 1 to Sept 30
x After allowing for other income received.
ANNUAL REPORTS,
Annual Reports.-An index 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
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of Oct. 30. The next will appear in that of Nov. 27.
Grand Trunk Railway of Canada.
(Report of President Made at Semi-Annual Meeting 0 . 21
1009.)
At ,the half-yearly meeting of the proprietors of the company, held in London on Oct. 21, President Sir Charles
Rivers Wilson said in substance:
General Results.-The effects of the commercial depression of 1908 extended into the first half-year of 1909, and therefore you will not be surprised if the results of the last half-year show no great advantage over
those of the corresponding half-year in 1008. But the crisis has been of
comparatively short duration, the clouds have already lifted; there has
Nov. 6 1909.1
THE CHRONICLE
been a great improvement in business. Since the beginning of the present
half-year-that is, for 3% months-our receipts have increased by no less
than £234,000, and there seems every expectation that the year's working
will prove to be satisfactory to the shareholders.
Some modifications have been made in the form of the accounts, caused
by the re-classification adopted by the Railway Commissioners of Canada.
of the
The chief alterations are the elimination from the general receipts
rentals received from other companies for the use of portions of our line and
stations, and from the working expenses of the amount paid for the hire of
equipment and car mileage, and the debit balance of the cost of the diningcar service, and the inclusion of those items specially in the income account.
The figures of the corresponding period have been revised in the same way
for the purpose of comparison.
The gross receipts-which are now included under the heads "freight,
passenger, mall and express, other revenue from transportation"-amounted
to 12,866,468, compared with £2,854,787, being an increase of only £11,681.
The tonnage moved was 7,506,806 tons, as compared with 7,223,000 tons
in 1908, being an increase of 283,806 tons. The average rate per ton per
mile shows a reduction of 4.35%; of the increased tonnage moved 206,000
tons was in through traffic, which is more competitive.
There was an increased expenditure under the head of maintenance of way
and structures and maintenance of equipment, but the expenditure during
the past half-year, although showing increases, can only be considered as
being of a normal character. The charges on account of maintenance of
equipment amounted to £449,110, of which 1236,608 was in respect of the
locomotive department and £212,502 in respect of the car department,
and showed an increase of 168,657. The amount actually expended
during the half-year was £23,460 less than in the corresponding period,
but there was included in this account a charge of 192,117 in reduction ot,
the engine and car renewal suspense account, for which no charge was
made in the corresponding period of 1908.
After deducting the deficiencies on the Canada Atlantic and Detroit
Grand Haven and Milwaukee lines of 141,103 and £25,749 respectively,
together aggregating £66,852, which was about £50,000 less than for the
corresponding period, there remains a balance of £279,932, compared with
£180,494 in 1908, an improvement of practically £100,000. Adding the
balance brought forward from the previous half-year, we arrive at a sum
of £292,159 available for dividend, and a resolution will be submitted
authorizing the payment of the dividends for the half-year on the 4%
guaranteed stock and first preference stock, which will absorb 1282,221
and leave £9,938 to be carried forward to the current half-year.
New Elevator.-The net expenditure on capital account was £367,157.
The principal item was £189,310 for the new elevator of 2,000,000 bushels
capacity at Tiffin, adjoining Midland, the company's principal port on the
Georgian Bay. The elevator has been completed and is now working.
Grand Trunk Pacific Ry. and Transcontinental Ry.-Starting from Lake
Superior to Fort William, we have already built 188 miles northwest to
join on to the Transcontinental Ry., together with an additional 12 miles
which have been taken over by the Canadian Government, making altogether about 200 miles. That constitutes the Lake Superior branch.
(Compare maps on pages 58 and 59 of "Railway & Industrial Section"-Ed.)
The 245 miles which separates the junction point from Winnipeg is being
constructed on behalf of the Canadian Government. Going thence on to
our own line again at Winnipeg, we have completed the whole of the 793
miles between that important city and Edmonton, and I cannot speak too
highly of the manner in which it has been constructed. West from Edmonton, the flrst contract of 123 miles will probably be ready for operation
at the end of the present year. Then there has Imen let west of Wolf's
Creek-which is the termination of that 123 miles, and also the termination
of the Prairie section-a further 179 miles. Then comes an interval through
the mountains of 425 miles, the contracts for which have not yet been
given out. At the end of that interval of 425 miles we again pick up a
portion let under contract recently of 135 miles. Then we complete the
Mountain section by the 100 miles from Copper River to Prince Rupert,
which are practically constructed, and which will be ready for operation
early next year. Prince Rupert has already a population of 3,000 inhabitants and there is no doubt is destined to be one of the great Pacific cities
of the future. At the present time we are under an obligation to complete
our road through to Prince Rupert by Dec. 1 1911. In consequence of the
want of labor I am afraid there is very little chance of that being accomplished.
Tile land in the immediate vicinity of Prince Rupert is not, at the present
time, very well adapted for agriculture, but it Is surrounded by magnificent
forests and the sea teems with fish of every description. As regards the
road from Edmonton west, I told you just now about 123 miles are nearly
completed. I went over 60 miles of it and found a large portion of it
taken up and farmed and the harvest in process of being reaped. East
from Edmonton to Winnipeg, for hundreds of miles, hundreds of thousands
of acres were under harvest. The whole landscape is dotted with farms
and homesteads, and when you think that about only two years ago this
land was an arid desert, I think you will agree with me that the transformation is something miraculous. All along our road there are growing
up little towns, some of which will develop into important cities. The
country itself is one of the most prolific in the world; it reminded me of the
Delta of Egypt, with this great advantage-that there is plenty of water
as a result of the winter snows. On our Lake Superior branch, for some
distance out from Fort William the land is already taken up and being
farmed. Further on there is little occupation, and I doubt very much
whether it Will ever maintain much of a population; on the other hand,
there arc prospectors at work all through the country and there is every
expectation that considerable deposits of minerals will be found.
While we have built the Winnipeg line on the one hand, and the Lake
Superior junction on the other, there remains an unfortunate link of no
less than 245 miles which it was expected would be completed for the
Government of Canada this autumn. The Government has done all it
possibly could. It put pressure upon the contractors, but the contractors
did not do their duty and the work is uncompleted, and we are the sufferers.
I am very chary of making a prediction, but I should surmise that it will be
finished next summer.
Of course, our object is to link up the West with our Eastern system.
That will be done during the summer by the road going down to Lake
Superior, which will enable us to communicate by water with our Georgian
Bay ports, and during the winter, when navigation is closed, by the road
the Government is building from Lake Superior Junction to Cochrane,
540 miles distant, where we shall obtain communication with North Bay
and be brought in touch with our own Ontario road. That we are within
a measurable distance of communication by Lake Superior there is no
doubt whatever. As regards the completion of the road-the 540 miles to
Cochrane-I am afraid we shall have to wait for some time. I am afraid
that there again there is not that anxiety to progress which ought to
characterize the contractors who are working under tile Government.
Retrospect -At the end of the year I shall resign the position to which
you did me the great honor of electing me fourteen or fifteen years ago. In
resigning I have the satisfaction of reflecting that the company to-day
stands, both as regards material condition, financial position, credit and
future, on a far higher level and on a much firmer basis than it did in 1895.
In 1895 404 miles of double track had been completed. To that we have
added since 636 miles, making a total of 1,040 miles. You have now a
magnificent straight road of double track running from St. Rosalie, 32
miles east of Montreal, to Chicago-880 miles. As regards bridges, we
have spent no less than £1,600,000 since we have been in office in strengthening, improving and reconstructing the bridges, so that at the present
time engines drawing the heaviest load can run direct from Portland, Me.,
to Chicago, a distance of 1,140 miles. We have added enormously to our
yard accommodation at Toronto and Montreal. We have built shops
up to date and well equipped at London, Stratford and Battle Creek. In
1895 the number of our locomotives was 1,036. We have only added 75,
making the total up to 1,111, but the haulage capacity in 1895 was only
1,947,000 tons, whereas it is now 3,577,000 tons, being an increase of
1,630,000 tons, or 33%, and that has been done without any charge to
capital. As regards cars, we have Increased the number of our cars by
6,500. The number in 1895 was 25,515; it Is now 33,019; but the tonnage
capacity of those cars in 1895 was only 473,000 tons and it is now 896,000
tons, being an increase of 422,000 tons, or about 89%, and the average
capacity per car, which in 1895 was about 18% tons, is now 28 tons, an
increase of 9.43 tons, or an increase of 50%.
In 1895 the company was on the verge of bankruptcy. Nearly £200,000
had been advanced to meet the fixed charges. Beginning with 1898, when
we resumed tile payment of dividends, I find that we have paid up to the
present time in dividends no less than £6,672,000, and we have also distributed in fixed charges, in Interest upon our bonds, 114,750,000-that
is to say that we have emerged from a state of absolute insolvency since
1898 and have distributed amongst the proprietors a sum of over £21,000,000. Our capital has been increased to the extent of about £7,500,000, but
there has been practically no increase whatsoever upon our fixed Charges.
1217
The gross receipts in 1895 amounted to £4,417,000. In 1907-which
was, of course, a very good year-the gross receipts were £9,224,000, and
in last year-which was a bad year-they were £8,106,000. The proportion of fixed charges to gross receipts in 1895 was 27.57%. lathe bad year
of 1908 they were 16.49% and in the good year of 1907 they were
14.32%. Taking the present market prices, which are lower than
they were a couple of years ago, the increased value of your
securities is something like £20,000,000 sterling. The ordinary stock
when we took office was quoted at 5% and now it stands at between 23
and 24, and it has been very much higher. The 4% guaranteed stock
stood at 42% in 1895 in the market and now it stands at 95. The third
preference, which stood at 12, is now at 57, and our 4% debenture stock,
which was then at 75, stands now at 101 M,and has been very much higher.
-V. 89, p. 993.
Detroit Toledo & Ironton Railway.
(Report of Receiversfor Fiscal Year ending June 30 1909.)
The receivers, Geo. K. Lowell, Benj. S. Warren and Thos.
D. Rhodes, write in substance:
Trackage.-On Oct. 10 1908 the use of the tracks of the Wabash RR.
from Napoleon to Gould; the Toledo Terminal RR. from Gould to Hallett.
and the Ann Arbor RR.from Toledo to Dundee was discontinued and lease
rights were obtained over the L. S. & M. S. Ry. between Dundee and Tecumseh. This resulted in the discontinuance of the line from Napoleon
to Tecumseh as a branch line and made it a part of the main line.
General Results.-The reduction in operating revenues is principally because of decrease of high-rate freight commodities carried and
the continued depression in business generally. Operating revenues decreased $98,139, or 6%; operating expenses decreased $217,194, or 15%;
gross net revenues increased $118,929, or 94%. The large increase in net
revenues is partially due to the fact that operating expenses in preceding
years included 10 cents per day for freight car hire, which is eliminated in
current year under rules of the Inter-State Commerce Commission and included in the deduction from operating income,
Among the reasons contributing to the lack of'harmony in the comparative income accounts were the reduction in per diem rate on March 1 1908
from 50 cents to 25 cents and the surrender of equipment below referred
to. These two causes had the effect of producing a debit to income of
$10,520 in year 1908-09, as opposed to a credit of $260,773 in year 1907-08.
Passenger revenue decreased 6.1%; number of passengers 1 mile decreased
883,808, or 8.8%; rate per passenger per mile increased to 1.69 cents, from
1.64 cents. Freight revenue decreased 7.1%; tons carried 1 mile decreased
6,755,925, or 2%; rate per ton per mile decreased from 4.13 mills 10 3.02.
The general business conditions the past year have not been as good as
in 1908. While the gross tonnage handled is greater than in 1908, the gross
earnings have been less, on account of our increased coal tonnage from connecting lines, which is handled at a very low rate per ton mile. The grain
and other products of agriculture show decrease on account of poor wheat
crop and less than normal corn crop, this reflecting on the products of animals. The coal tonnage shows a decrease from our own district on account
of the high grade of coal and expensive production. During the last half
of tile year there was an increase of over 17,000 tons of pig iron from the
Jackson-Wellston and Ironton furnaces, located on our line, which indicates that the general conditions are now improving.
The revenue from passenger traffic decreased $9,976. Our passenger
business was not profitable at 3 cents per mile, and when the State of Ohio
forced us to reduce our fares to 2 cents per mile there was no course open
than to reduce the frequency of our passenger trains-the reduction during the past year amounting to 48,086 miles.
Improvements.-Out of the gross revenue there has been expended and
charged to cost of road $31,486 for new sidings, gravel pit, new freight
house at Springfield, &c.
Physical Condition.-138.79 tons of new 85-lb. steel rail was purchased
and laid during the year, releasing 56 and 60-1b. rail; 175,765 No. 1 oak and
chestnut ties put in main track; 46.25 miles of new fence built; 252 feet
trestles and approaches filled. Ballast laid: 15 ya miles gravel, 3 2-3 miles
cinder, 10 YL miles slag; total, 29 1-6 miles, all charged to operating expenses.
Equipment.-No new rolling stock was added during the year two secondhand engines were purchased from the Ann Arbor RR.for $4,000.
On account of default in payment of interest on equipment trust notes,
the following equipment was, by order of Court, surrendered to the American Car & Foundry Co.: 1,788 coal cars, 495 box cars, 196 flat cars and
30 19 Mx28 Brooks consolidation freight engines, Nos. 88 to 117. fThe
equipment trust notes referred to were the unpaid portion, $1,656,000, of
the 4% Issue dated June 1 1905. While the equipment has been surrendered, no adjustment has been made of the original obligation, which
is included, as heretofore,among the company's liabilities in the balance
sheet. Compare V. 82, p. 99.-Ed.1
Weight of Steel Rails in Main Line and Branches.
56-lb. 60-lb. 70-lb. 80-16. 85-lb. 90-lb. Total.
Main line, miles_ _ _ _16.816 192,495 51.689 3.476 70.796 8.488 343.760
____ 52.501
____ 2.485
.500
Branches, miles__ _ _10.000 39.516
Rolling Stock June 30.
Pass. Cars. Freight Cars. Miscellaneous
Engines.
41
4,295
1909 '
60
34
40
6,793
90
1908
34
OPERATIONS,EARNINGS,EXPENSES. &c.
1906-07.
1907-08.
1908-09.
Operations424,963
406,447
394,259
Revenue passengers carried
9,949,576 11,462,713
Revenue passengers carried one mile_ 9,065,768
1.43 cts.
1.69 cts.
1.64 cts.
Receipts per passenger per mile
2,222,236
2,177,633
2,227,040
Tons of freight carried
323,555,544 330,311,469 329,122,200
Tons carried one mile
0.413 cts.
0.436 cts.
0.392 cts.
Average receipts per ton per mile
420.92
400.95
395.85
Average number tons fr't per train m_
$3,482
$4,834
$3,318
Gross earnings per mile of road
INCOME ACCOUNT FOR YEAR ENDING JUNE 30.
1908.
1909.
1908.
1909.
Oper. Revenues$
245,080 126,151
Freight
1,267,789 1,365,216 Net revenue
78,124
83,746
PaFsenger
152,869 162,845 Taxes
Mall, express, &c___ 104,468
95,205
42,405
Operating income__ 166,956
.38,476 297,836
Total
1,525,126 1,623,266 Other income
me ____ 205,432 340,241
o_
ow
Gross inc
Dedual
264,448
415,756 Joint facilities, rent
47,195
44,859
27,075
tracks, &c
756,586 Hire of equipment_ 10,520
155
818
33,250 Rents
Interest accrued on
794,296 833,387
bonds
1,279,921 1,497,115
Total
33,248
40,152
Other Interest
1,358
44
P. c. of exp. to earns. (83.92) (92.23) Betterments
Net oper. revenue__ 245,205 126,151
125
Total deductions _ 890,689 915,343
Outside oper.-net def.
Balance, deficit for
685,257 575,101
245,080 126,151
Net revenue
• Other income includes joint fac lities, rent of tracks, &c., $36,887;
rents, $1,561; interest on deposits, $29.
BALANCE SHEET JUNE 30.
1909.
1908.
1908.
1909.
Liabilities$
8
$
II
AssetsRoad &equipment 38,655,554 38,655.449 First pref. stock__ 7,500,000 7,500,000
Second pref. stock 5,000,000 5,000,000
Ann Arbor RR.
*5,101,400 *5,101,400 Common stock_ --12,500,000 12,500,000
stock
94.781
ns debt
18,840,400 18,880,400
94,781
Tol. South.RR.Co.
Loans
565,651
635.851
Cash for imt. on
1337:513005
254,816
137,500
221,503
coll. trust notes_
3,179
Pay-rolls
16,652
4,466
Cash In treas., &c.
309,746
Int. mat. & accr'd 759,906
Agents and con7.290
79..905289
34,857 Taxes accrued_
36,828
ductors
10,796
6,996 Traffic balances
Traffic balances
3,788
72,625
97.010 Misc. accounts_ _ _
9.458
29,428
Individuals & cos_
Equipm't replaceMaterials and sup146,770
173,839
173,838
146,770
meat account
plies
10,747
Miscellaneous ...
Receivers' paym'ts
200,552
Profit and loss_ _ 1,676,171 1,206,622 .In excess of recta. 290,644
Oper. ExpensesMaInt. of way, &e__ 282,999
Maint. of equipment 214,369
Traffic expenses_ _ _ _ 29,580
Transport'n expenses 701,737
General expenses_ _ _ 51,236
45.959,824 45,484,520
45,959.824 45,484,520
Total
Total
• Includes $2,190,000 common stock and $3,102,400 shares of preferred
stock.-V. 89, p. 1068, 593.
[VOL. Lxxxix.
THE CHRONICLE
1218
Ann Arbor Railroad.
(Report for Fiscal Year ending June 30 1909.)
President E. Zimmerman says in substance:
General Results.-Gross operating revenues increased $8,290, or 0.4%;
net operating revenues increased $31,232, or 6%; taxes increased $11,542,
or 8.5%; gross operating expenses decreased $22,942, or 1.6%. The deductions from gross income increased $60,352, largely due to including $52,459
paid for hire of equipment; in preceding year 10 cents per day for freight
car hire was included in operating expenses; this year no part of it is
included. This condition also partly explains the decrease shown in operating expenses.
Earnings from passenger traffic show some improvement,but the reduction in fares by legislative enactment from three to two cents per mile is
still proving disastrous, as is shown by a comparison of the first three
months of the fiscal year with the same months in 1907.
July, August and September.
1907.
Increase. Decrease.
1908.
24,416
265,768
990,184
Passengers carried
$168,973
$148,277
$20,696
Revenue
Improvements. etc.-There has been expended for additions and betterments and charged to cost of road $70,700; to equipment $161,319; and
to income $4,153.
Physical Condition.-There was purchased and paid for during the fiscal
year 7,232 tons of 80-lb. and 85-1b. rail at total cost of $211,615. This
rail was used to displace 56-1b. rail. 80,375 No. 1 oak and cedar ties were
put in main line. Ballast laid, 3% miles, of which % mile gravel, 33%
mites cinder. 165 feet of trestles and bridges were filled.
Weight of steel rail__ _ _56-16. 60-lb. 67-16.
70-lb. 80-16. 85-16. Total.
92.70 6.27 1.15 181.28
____ 10.50 291.90
Miles owned 1908
42.19 1.76 1.15 165.44 33.21 48.15 291.90
Miles owned 1909
Rolling Stock.-No new passenger or freight cars were purchased. One
new Atlantic type 19x26.passenger engine No. 204 was purchased at a cost
of $14,000. Also 9 consolidation 22x30 freight engines Nos. 150 to 158
inclusive were purchased at a cost of $147,150. Two passenger engines
were sold to the D. T. & I. By.
Outlook.-The prospects for the coming year are good, as the crops are
all in good condition and th.re is larger acreage than ever before.
OPERATING STATISTICS.
1908-09. 1907-08.
1908-09. 1907-08.
880,200
808,879 Tons carried 1 mile
Passengers carried
(revenue)
25.1,139,898 277054,377
Passengers carried
25,321,925 23,848,041 Rate per ton p. m_ 4.51 cts. 4.70 cts.
1 mile
Freight earnings
Rate per passenger
82.08
$1.89
1.78 cts. 1.94 cts.
per train mile__
per mile
$6,352
Passenger earn'gs
$5,680
Gross earn, per m..
per train mile 90.05 cts. 94.91 cts. Av. rev. train-loan
(tons)
444
Tons carried (rev.) 1,614,810 1,687,662
419
RESULTS FOR YEAR ENDING JUNE 30.
1908-09. 1907-08.
1908-09. 1007-08.
Oper. revenues
538,417 507,186
1,146,719 1,302,621 Net revenue
Freight
147,967 136,426
450,324 462,895 Taxes
Passenger
&c___ 111,437 117,266
Mall, express, &c
Operating income_ 390,450 370.760
98,120
Other income_ _ _ _ *101,488
1,708,480 1,882,782
Total
Operating expenses491,938 468,880
Gross income
Maint. of way, &c__ 254,718 191,571
DeductMaint. of equipment 193,865 347,457
174,643 122,183
34,265 Hire of equipment
Traffic expenses_ _ _ _ 38,214
Transportation exp_ 662,157 767,681 Joint facilities-rent
6,300
of track &term.dec 13,396
34,622
General expenses_ _ _ 48,359
280,000 280,000
Interest on bonds
1,655
1,197,313 1,375,596 Int. on equip. notes..
Total
5,012
4,153
P. c. exp. to earnings (70.08) (73.06) Betterments
Net operating rev_ _ _ 511,167 507,186
Total deductions_ 473,847 413,495
(net)__ 27,250
Outside oper.(net)
55,385
18,091
Balance, surplus.
538,417 507,186
Net revenue
* Other income includes: Rents received, $6,516; Joint facilities, rents of tracks
and terminals, $66,192; interest on deposits, $28,430; interest on D. J. & C. bonds,
$350.
GENERAL BALANCE SHEET JUNE 30.
1908-09. 1907-08.
1908-09. 1907-08.
LiabilitiesAssetsRoad, equip., &c_15,267,082 15,035,055 Preferred stock___ 4,000,000 4,000,000
703,276 Common stock___ 3,250,000 3,250,000
532,930
Cash
Bonds
7,000,000 7,000,000
Remittances in
62,246 Equipment notes..
79,723
transit
70,000
114,293 Vouchers
90,056
Agents & conduc'rs
214,961
201,315
303,130 Wages & salaries_
Individ'ls & corn's 159,588
77,965
53,184
50,569
104,110 Agents' drafts in
Traffic balances
191,539
145,417
Mat'is & supplies_
transit
21,229
Interest matured
Bills receivable(D.
79,160
and accrued_ _ _
77,180
T. & I. Ry.)...._ 220,200
72,422
35,000
Taxes accrued_ _ _ _
Jackson Ann Arbor
30,174
7,000
7,000 Traffic bais., &c._
46,640
& Chicago bonds
10,389 Replacement, &c.,
8,509
Miscellaneous
177,192
reserves
170.648
Miscellaneous
7,000
Profit and loss_ _ _ _ 1,607,094 1,650,952
Total
16.607,197 16,484,920
-V.89, p. 1068. 777.
Total
16,607,197 16,484,920
Toledo St. Louis & Western Railroad.
(Report for Fiscal Year ending June 30 1909.)
President T. P. Shonts, Chicago, Oct. 1 1909, wrote in
substance:
General Results.-Comparison with last year shows earnings from freight
traffic decreased 11.02%; earnings from passenger traffic decreased 12.08%;
total gross earnings from operation decreased $394,190, or 10.31%; operating expenses were decreased $495,634, or 19.26%; and net earnings from
operation increased $101,444, or 8.12%.
There was a decrease in freight tonnage of 282,739 tons. The decline
was general, and although some commodities showed improvement, the
greatest loss was in coal and agricultural products. Passengers carried one
mile decreased 4,865,114. Gross earnings per mile of road were $7,607 04,
as against $8,481 62 last year. Net earnings per mile of road (exclusive
of taxes) were *2,997 26, as against $2,772 18 last year.
Capitzlization.-The capital stock and funded debt remain the same as
at the last report. We have in the treasury prior lien bonds, $450,000;
preferred stock, $47,400; common stock, $5,000.
"Other Securities" Owned-Dividends Received.--Your company has in
its treasury 64,800 shares of the preferred stock and 144,200 shares of the
common stock of the Chicago & Alton RR. Co. out of a total of 195,440
shares of preferred and 195,428 shares of common stock authorized and
issued. On this preferred stock during the year past it received a dividend
of 4% and on the common stock a dividend of 4%•
Your company has also in its treasury 7,140 shares out of a total authorized and issued of 14,280 shares, of the par value of $100, of the Detroit 80
Toledo Shore Line RR. Co., on which stock during the fiscal year it has
received a dividend of 6%, or $42,840, and since the close of the fiscal year
a dividend of 2%, or $14,280. The first mortgage 4% bonds of that road
now owned by this company amount to $230,000 and are included in the
balance sheet under the heading of "Investments," at valuation of $195,500,
or 85%.
Maintenance, &c.-In the maintenance of tracks 1.52 miles of new 75-lb.
rails were laid; 75,946 cross-ties were placed in main track and 23,872 in
side tracks; 7.50 miles of track were re-ballasted with stone to reach our
standard measure of 12 Inches under ties; 34.59 miles of embankment were
widened; 17.36 miles of ditching was done.
At Edwardsville 39.744 cubic yards of earth were removed in grade
reduction. The original estimate of this work was placed at 77,765 cubic
yards, but changes have been made that will increase this estimate to
90,000 yards.
Extensive repairs have been made to 106 bridges and 23 culverts, and
ordinary repairs to 155 bridges. In addition, three new structures of steel
1908-09 1907-08.
1908-09. 1907-08.
$
Earnings$
$
S
1,202,212 1,110,406
Freight
2,734,152 3,072,674 Net earnings
Passenger
456,983 519,719 Divs. on C. & A.stk_ 836,000 401,400
14111
Mali, express &misc. 237,529 230,441 Divs. on Det. & '1'.
42,840
S. L.stock
4,774 abt11,779
Total earnings_ _ _3,428,644 3,822,834 Other income
Expenses2,085,826 1,523,585
Total income
Maint. of way, &c__ 374,456 486,238
wool
DeductMaint. of equipm't__ 378,036 448,731
954,390 922,378
Traffic expenses_ _
71,487 132,792 Interest on bonds
114,777 115,798
Transporta'n exp___1,158,378 1,359,859 Hire of equipment
67,624
General expenses.- - 95,363 145,736 0th. Int., disc., &c._ 78,365
398,104 398,104
148,711 139,073 *Pref. div. (4%)
Taxes
Total
Total expenses_ _2,226,432 2,712,428
(64.94) (70.96) Surplus
P. C. exp. to earns_
1,545,636 1,503,904
19,680
540,191
* Deducted from profit and loss account, but here shown for simplicity.
GENERAL BALANCE SHEET JUNE 30..
1909.
1909.
1908.
Liabilities$
Assets$
Cost of road, &cc _ _33,681,905 38,697,672 Stock, common._ 9,995,000
273,261 Stock, preferred__ 9,952,000
Material &supplies 167,485
27,577,000
121,640 Bonds
Traffic balances__
98,891
Investments x____12,329,400 12,340,903 Equip. trust cuts_ 750,000
100,363
Cash
376,113
278,401 Taxes accrued_._
150,000
160,606 Bills payable
Ag'ts & condue'rs 180,144
Cos. & individ'is
220,678
193,510 Int. and divs. due
397,443
5,279
15,382
or accrued
U.S.P.0.Dept
26,234 Accounts payable 175,493
35,605
Suspense accounts
120,657
Divs. on C. & A. 418,000
273,800 Traffic balances
6,432
101,208
Insurance prepaid
6,810 Pay-rolls
562,129
2,300
7,896 Equip. reserves
Miscellaneous
Surplus
2,040,339
Total assets_ _52,522,232 52,396,117
1908.
$
9.995,000
9,052,600
27,577,000
850,000
95,806
325,000
OM
401,482
350,048
111,531
94,081
531,650
2,111,017
Total liabilities_52,522,232 52,396,117
x Investments include in 1909 $6,480,000 Chicago & Alton preferred and 814,420,000 common stock (533%% of total Issued), valued at $11,527,000, deposited as
security for gold bonds 011917; $714,000 Detroit & Toledo Shore Line stock (50% of
amount issued) and $230,000 first mortgage gold bonds, valued at $802,400.V. 89, p. 1142. 995.
Chicago & Eastern Illinois Railroad.
(Report for Fiscal Year ending June 30 1909.)
President H. I. Miller, Oct. 1 1909, wrote in substance:
General Results.-Total operating revenue decreased $473,112, or
4.4%; operating expenses decreased $420,259, or 5.7%, and net operating
revenue decreased $52,853, or 1.6%.
The Federal law now in force limiting the hours of service of telegraph
operators and other classes of employees, and the Indiana law requiring an
additional brakeman on certain classes of trains, have increased the operating expenses to some extent.
Agreement with Illinois Traction Co.-In the latter part of the year an
arrangement was made With the Illinois Traction Co. providing for the
interchange of freight between the two companies. This opens to the
C. & E. I. RR.a considerable territory Inn very populous portion of Illinois
to which it has not heretofore had access.
Funded Debt.-The funded debt, including equipment trust notes, has
been increased during the year $1,431,942 as follows:(1) By the issue of additional "refunding and improvement mortgage" bonds, $2,748,000 for additions and improvements and car trust obligations paid in this and prior
years, and the issue of "general consolidated and first mortgage" bonds;
$120.000,for (2) additional double-track road, Bismarck to Starr, Ill., 1.95
miles. $50,000; second main track, 8.57 miles, laid in prior years, $69,000;
other, $1,000; total, $2,868,000, less equipment obligations redeemed.
$1,436,058.
WEIGHT OF RAIL IN TRACK (MAIN. SECOND ct THIRD) JUNE 30.
85-16. 80-lb. 75-16. 72-lb. 70-16. 65-16. 60-/b. 56,&e.
Total.
1909 (m).1,005.22 194.97 349.74 2.64 18.23 13.29 148.88 254.49 22.98
1908 (m)_1,005.22 187.24 355.14 2.64 18.34 13.46 148.90 254.99 24.51
OPERATIONS, EARNINGS, EXPENSES. &c.
1906-07.
1905-06.
1907-08.
1908-09.
948
___
Miles operated June 30_
957
966
Operations2,561,308
2,899,233
2,309,306
Passengers carried, No
2,843,347
Pass. carried 1 mile, No 95,575,122 95,670,423 80,371,192 74,736,501
2.04 cts.
2.15 cts,
1.76 cts.
Rate per pass. per mile_
1.74 cts.
Rev. fgt. (tons) carried_ 10,080,499 11,273,436 11,943,138 10,833,057
do
do
1 mile. 1682097015 1831277819 1940963492 1728882891
0.47 eta.
0.48 cts.
Rate per ton per mile.__
0.47 cts.
0.48 cts.
INCOME ACCOUNT.
1908-09. 1907-08.
1908-09. 1907-08.
$
Operating revs.3,335,085 3,387,939
8,005,583 8,523,387 Net earnings
Freight
358,587
274,114
1,660,981 1,680.303 Taxes
Passenger
486,503
Mall, exp. & miscl. 518,734
52,538
Operat. Income_ 3,060,971 3,029,352
78,321
Other than trans.._
Outside operat'ns_deb.19,942 deb.8,846
401,449
61,995
10,269,619 10,742,731 Hire of equIpm't__
Total
596,897
Other income_ _ _ _ 543,551
Oper. Expenses4,018,851
3,646,574
Total incomeMalta. way, &c..... 994,710 1,205,711
DeductMaint. of equip't. 1,663,759 1,609,704
2,192,172 2,170,801
197,295 Interest
Traffic expenses__ 210,011
702,823
759,231
Transport'n exp__ 3,635,686 3,926,535 Rentals
529,842
415,547 DIv.on pf.stk.(6%) 529,842
General expenses_ 430,367
Div. on corn. stk(2%)144,356(10)721,780
Total expenses_ 6,934,534 7,354,792
Total deductions 3,625,601 4,134,245
(68.46)
P. c. exp. to earns. (67.53)
sur.20,973 def.115,394
3,335,085 3,387,939 Balance
Net earnings
BALANCE SHEET JUNE 30.
1908.
1909.
1908.
1909.
Liabilitie.sAssets.x13,626,100x13,620,100
Road & equipm't_58,140,040 56,594,648 Common stock.
x8,992,000 x8,992,000
542,755 Preferred stock
Investm't acc'ts_ - 550,784
(see "Ry.-&
11,562 Bonds,
12,231
Sinking fund
Ind.'Section)_ _40,437,000 37,569,000
326,844
213,656
Loans & bills rec
8,391,348 9,827,405
Mat'ls & supplies_ 1,083,986 1,042,622 Car trusts
1,425,000 2,395,000
477,845 Bills payable
Agents & cond'rs_ 448,419
768,530
776,121 Inter. & dividends 966,333
Co's & Individ'Is. _ 597,167
77,985
cr.5,444 Matured bonds onTraffic balances
(see
presented
30,653
10,307
U. S. Government
12,858
7,206
22,347
contra)
41,039
Deferred assets_ _
212,070
188,400
Taxes
Trust Co. of Amer.
trust assets- y10,578,092y10,578,092 Equip. replacem't
1,246,140 1,054,463
account
Treas. securities__ 3,140,635 4,013,103
Additions & imCash to redeem ma97,487
95,155
provement fund
12,858
7,206
tured bonds_
Adv. for consten. 900,141 2,401,014 Pay-rolls,vouchers,
1,771,317
1,302,311
&c
646,447
947,968
Cash
16,951
21,720
Suspense accounts
z Portion disc't on
34,723
47.244
Insurance fund__ bonds carried in
980,975
804,957
Income account
688,070
suspense
Total
77,650,914 77,358,880
Total
77,550,914 77,358,880
held in
x Of these, $6,408,300 common and 5161.300 preferred is treasury stock
trust by Trust Co. of America. y Of this, $6,559,600 consists of common and preferred stock (see V. 85, p. 1001); balance sundry Investments. z To be charged out
in annual installments during life of mortgage.-V.88, p. 1127.
Detroit & Mackinac Railway.
(Report for Fiscal Year ending June 30 1909.)
Vice-President and General Manager J. D. Hawks,
Detroit, Mich., Oct. 7, wrote in substance:
On the night of Oct. 15 1908 fires which had been burning for months
In the swamps and timber lots all through Michigan were fanned by a fierce
wind and rushed across the country, leaving death and destruction behind.
the
A relict train from the north could not get back, and at Nowicki siding
and the
track was warped to such an extent that the engine was derailed
No blame can be
train burned, with a loss of the lives of 13 persons. in
attached to the railroad company. Other lives were lost the surrounding
young seccountry, and the damage to buildings and standing timber and
more or less
ond growth was immense. Some 4,000 people suffered lossthe
year, but
severe. This fire loss has probably affected our earnings for
not to any serious extent.
Work on the Hillman branch was resumed with the idea of having trains
running by Christmas of this year. 1,000 tons of 85-lb. rail were bought
during the year and .put in main track. The 70-1b. rail taken out was
laid on the }Tillman branch.
The car trust notes were paid as they matured, leaving only $80,000
outstanding (of the original $400,000), which will be paid during the
coming fiscal year.
On a main line of 196.24 miles we have 172.80 miles of straight line,
with total up grades of only 1,046 feet and down grades of 1,053.7 feet.
This, coupled with the fact that we have no heavy cuts or fills or rock work
or long bridges and have good rail, ballast, ties and tie-plates, makes for a
very low cost for the up-keel) of track. The equipment has been kept in
good shape. We have changed several three-degree curves to one degree,
and have a few more to change. Two concrete crews have continued the
work of replacing wooden culverts with reinforced concrete. The prospects for the next fiscal year are good.
OPERATIONS,EARNINGS,EXPENSES,ETC.
1905-06.
1907-08.
1906-07.
1908-09.
343
344
348
347
Miles operated
Operations327,592
364,132
365,701
379,601
Passengers carried (No.)
Passengers carried 1 mile 13,259,787 13,914,861 13,779,315 11,991,009
2.049 cts.
2.153 eta.
2.064 cts.
Rate per pass. per mile_ 2.141 eta.
1,289,915
1,109,055
1,189,742
1,478,450
Freight (tons) carried
83,781,632 109,329,676 122,341,737 94,088,608
Fr't (tons) carried 1 m
0.768 eta.
0.767 cts.
0.868 cts.
Rate per ton per mile__ _ 0.958 cts.
$
$
$
Earnings844,253
820,487
946,068
806,727
Freight
294,228
263,779
291,061
292,302
Passenger
74,146
47,615
70,500
49,945
Mall, express, &c
1,311,274
1,154,826
248,900
264,302
466,388
200,383
259,394
384,236
30,412
29,121
807,365
378,731
18,314
1,010,002
301,182
873,134
281,692
397,045
301,182
281,692
92,000
80,288
92,000
81,262
92,000
78,539
30,728
37,353
40,020
22,866
100,296
16,950
21,201
(5)47,500
25,538
17,691
9,629
(5)47,500
9,977
(5)47,500
418,454
def.21..409
295,940
sur.5,233
276,435
sur.5,257
1,148,974
Total
Expenses183,863
Maintenance of way, &c.
185,230
Maint. of equipment__
22.320
Traffic expenses
371,044
Transportation expenses
32,687
General
1,186,096
796,044
352,930
15,874
Total income
368,804
Deduct92,000
Interest on funded debt_
85.345
Taxes
Penalty on back taxes.._
41,937
Hillman branch
45,256
Hillman branch reserve..
25,000
Loss by forest fires Oct'08
9,175
Int. on car tr. & oth.notes
Equipment
11,514
Additions and betterm'ts
11,078
Miscellaneous
Dividend on pref. stock.. (5)41,500
Total
Net earnings
Hire of equipment
368,804
Total
Balance
144,244
189,060
24,5461
422,446f
27,008
CONDENSED BALANCE SHEET JUNE 30.
1908.
1909.
1900.
1908.
Liabilitiess
$
Assets2,000.000 2,000,000
Road and equipment 5,564,777 5,511,027 Common stock
950,000 950,000
Equipment trusts_ -- 80,000 160,000 Preferred stock
Funded debt
3,100,000 3,050,000
Tr. Bet. & ht. Ity.
800.000 750,000 Notes payable
195,000
bonds
63,496
Equipment
63.738
80,000 160,000
notes_
supplies_
Materials &
2,700 Equip. & rail reserve 194,042
1,604
70,763
Cash
62,262 Hillman branch res've 45,256
Current accounts--- 49,598
85 Awl. vouchers, &c.. 137,999
865
71,347
Miscellaneous
Taxes and miscell_ ... 53,286
52,462
Total assets
-V.89, p. 1068.
6,660,583 6,519,572
1219
THE CHRONICLE
NOV. 6 1909
Total liabilities- - -6,560,583 6,549,572
Bangor & Aroostook Railroad.
(Report for Fiscal Year ending June 30 1909.)
President F. W. Cram, Bangor, Sept. 18, said insubstance:
General Results.-The gross revenue from operating the railroad was
$2,916,815, an increase of $72,733; the operating expense was decreased
$10,655. After providing for charges and 2% semi-annual dividends, there
was a surplus of $43,075.
Improvements, &c.-Expenditures amounting to $276,695, and not ineluded in the statement of working expense, were made for additions,
betterments, &c. [Including additions and betterments, $38,706; doubletracking, $5,853; additional cost, Medford extension, $5,116; added cost
of equipment, paid car trust C and D bonds, $180,000; application of replacement of equipment fund for renewal of equipment, $47,020.1
New steel rails laid, 85 lbs. per yard section, 2,669 tons; re-laying rails
laid, 70 lbs. per yard section, 511 tons; new ties, standard, 79,767. Three
trestles, total length 803 feet, were filled. A large coal-handling and
storage plant at Northern Maine Junction is nearly completed, costing
about $70,000.
Extensions.-The company was this year accorded charters for building
from Van Buren to St. Francis, in the valley of the St. John River, about
60 miles; from Squapan, in town of Masardis, to Stockholm, via Mapleton,
Washburn and Perham, about 48 miles; and from Mapleton to Presque
Isle, about 7 miles.
Construction from Van Buren to Grand Isle, about 15 miles, and from
Fort Kent to St. Francis, about 17 miles, is in progress under what is known
as the "St. John River Extension" charter, as is the construction of the
Squapan-Stockholm-Pre,sque Isle line entire, under what is known as
the "Washburn Extension" charter. It is expected that the latter will be
ready for operation during the present calendar year. The Van BurenGrand Isle section should be ready for business by early October, and the
Fort Kent-St. Francis section by early November.
Outlook.-Conditions appear to favor the manufacture of lumber in increasing quantities on the line. New mills have been built; others are to
be built; some of the older ones have been enlarged. There will be practically no limit to the lumber in Northern Maine available for railroad freight
It the railroad shall be extended to those sections which are without transportation facilities.
The plant of potatoes in spring of 1909 was probably the largest one ever
made. At this writing the yield promises to be satisfactory in the main,
although planting was late, and the heavy shipments will not have begun
until some weeks later than those from crop of 1908. Only a small percentage of the whole of the soil available for potato raising is as yet under
cultivation. The stock especially for seed purposes, Is in growing request.
OPERATIONS, EARNINGS, EXPENSES AND CHARGES.
1905-06.
1908-09.
1906-07.
1907-08.
Operations456
482
501
515
Average miles
697,518
581,595
627,775
701,536
Pass. carried (revenue).
23,751,756 25,080,370 25,646,449 21,945,851
Pass. carried one mile
2.48 eta.
2.40 cts.
2.38 cts.
2.35 cts.
Rate per pass. per mile_
1,377,155
1,629,539
1,489,502
Rev.freight (tons) carrd 1,463,619
do
carried 1 mile 181,361,658 159,901,973 196,544,091 146,348,568
1.19 eta.
1.19 cts.
1.17 cts.
1.17 cts.
Rate per ton per mile
Earnings544.870
614,110
597,993
560,446
Passengers
1,743,267
2,340,390
1,869,435
2,122,422
Freight
Mail, express, car ser208,410
267,196
376,654
233,947
vice, rents
Total gross earnings_ _
Operating ExpensesMaint. of way & struc
Maint. of equipment
Traffic expenses
Transportation expenses
General expenses
2,916,815
2,844,082
3,221,696
2,496,547
482,707
324,313
33,847
824,169
124,130
428,626
271,871
35,320
955,553
108,150
552,010
344,000
391,565
210,803
1,093,465
143,820
829,733
112,569
Total
Per cent exp. to earns__
Net earnings
Other income
1,789,185
(61.34)
1,127.650
1,799,821
(63.28)
1,044,261
2,133,295
(66.21)
1,088,401
2,191
1,544,670
(61.87)
951,877
13,180
Total net income_ _ _ _ 1,127,650
Fixed Charges17,920
Taxes
935,038
Interest on bonds
Approp.foe car trust"C"
1.795
Dining car deficit
Betterments
29,422
Interest and discount
100,400
Dividends (4%)
1,044,261
1,090,592
965,057
14,937
888,338
14,830
779,471
8,769
656.515
47,000
99,626
117.642
71,840
62,000
1,679
32,387
97,040
892,126
965,767
1,034,382
1,084,575
Total
72.931
124,825
9,879
43,075
Surplus
30.
CONDENSED BALANCE SHEET JUNE
1908.
1909.
1909.
1908.
$
Assets$
stsser
CoA
&c _ _17,598,528 17,562,602 Common stock__ 2,510,000 2,510,000
o r
Cost of equipment 3.538,001 3,357,253 Bonds & car trusts
(see "Ry. er. InCar trust"C"&"D" 1,350,000 1,530,000
dustrial" Sec.).20,005,000 20,044,000
336.289
466,624
Cash
387,849
Interest July 1___ 350,306
Materials, supplies
550,891 Pay-rolls & vouch337.870
and stores
86,708
112.598
ers
129,314
Cos. & individuals 175,650
60,327 Bills payable and
47,456
Net traffic balances
704.195
divid'd declared 830.200
25,718
38,183
Due from agents_ 100,092 Replacement of
78,885
Suspense accounts
30.965
37,509
equipment
Nor. Me. Seaport
130,019
420,000 Miscellaneous _ _
420,000
common stock
208,911
_
_
_
249,046
loss_
and
Profit
30,161
43,461
Real estate
24,094,659 24,102,648
Total
-V.89, p. 347, 161.
Total
24,094,659 24,102,648
Mobile & Ohio Railroad.
(Report for Fiscal Year ending June 30 1909.)
The report of President W. W. Finley, dated New York,
Oct. 8 1909, shows:
General Results.-The miles of road operated during the year averaged
1,114.26, being an increase of 165.16. The gross operating revenues In
creased $63,936, while operating expenses were decreased $285,341, resulting in an increase in net operating revenue of $349,277. The deduc_
tions from income increased $394,765; interest on funded debt and equip
ment obligations decreased $13,471. The balance of income over charges
decreased $28,482; dividends on stock (5%, contrasting with 4% in 1908),
called for $301,030. being an increase of $60,206. Additions and betterments amounted to $19,446, a decrease of $131,249, leaving to be carried
to credit of profit and loss, $116,961, or an Increase of $42,562 over the
previous year.
Balance Sheet.-Cost of road and equipment shows a net increase for the
year of $730,338, due chiefly to "proportion of payments made during the
year on equipment obligations for new and additional equipment," $637,913, and new industrial, side and passing tracks, $23,986.
There was no change in the funded debt, but equipment trust obligations
were reduced $1,085,939.
Maintenance.-While the charges to maintenance of way and structures
for the year decreased 571.239, or 6.06%, the road-bed and structures have
been sufficiently maintained; 2,763 tons, or 20.69 miles, of new 85-1b. steel
rail were laid in track, replacing lighter steel, as compared with 1,252 tons,
or 9.38 miles, in 1907-08: cross-ties used in renewals, 484,974. a decrease
of 1,921. There were constructed during the year 14.96 miles of additional sidings.
The total number of miles of ballasted track at the close of the year was
645, or 69.72% of total main track mileage maintained.
Average Costs for Repairs and Renewals per Locomotive. Passenger Train Ca
and Freight-Train Car.
1908-09. 1907-08. '1906-07. •1905-06.
$1,700
$1,714
$2,000
$1,886
Locomotive
701
712
923
687
Passenger-train car
49
82
69
60
Freight-train car
• Supplied-Ed.
OPERATIONS,EARNINGS AND CHARGES.
1905-06.
1908-09.
1907-08.
1906-07.
926
Total miles operated___
1,114
926
926
Operations1.376,609
1,155,718
1,517,574
Passengers carried
1,546,913
51,890,286 50,746,356 52,675,263 45,887,485
Pass. carried 1 mile
2.34 cts.
2.34 cts.
2.39 cts.
Av. rate per pass. perm.
5,326,003
4,-7-4-5,7
785,217,311
Revenue tons moved
4,902,850
Tons moved 1 mile
1147808,670 1126000,165 1302991,226 1114905,371
0.617 cts.
Av. rate per ton per mile 0.621 cts.
0.631 cts.
282
280
Av.rev. train-load(tons)
INCOME ACCOUNT.
1908-09. 1907-08.
1008-09. 1907-08.
Oper. revenues$
$
Freight
7,128,687 7,108,975 Operating income__ _2,865,976 2,541,322
26,986
Passenger
1,214,599 1,212,518 Rents, &c., received 79,632
Mail, expr. & misc. 1,319,692 1,259,250 Income from invest's 122,975 147,464
Other rev, from oper. 64,749
83,048
Total gross income 3,068,584 2,715,772
DeductionsTotal oper. rev_ _ _9,727,726 9,663,791
Rental St. L.& Cairo
Oper. expenses457,566 459,063
RR
Maint. of way, &c__1,103,469 1,174,709
423,177 241,025
Maint. of equipment 1,431,721 1,470,162 Other rents
11,004
Traffic expenses_ _ _ _ 334,149 322,878 Hire of equip.-bah 221,205
130,643 126,733
Transport'n expenses3,361,193 3,554,750 Miscellaneous
General expenses_ _ _ 359,116 352,490 Interest on bonds_ _ _1,198,880 1,180,130
Int. on equip oblig'ns 199,676 231.897
Total oper. exp__ _6,589,648 6,874,990 Div. on cap.stock(5%)301,030(4)240,824
19,446 150,696
Net operating rev_ __3,138,078 2,788,801 Add'ns & bett'ts
Outside oper.-net
30,633
21,010
Total deduc'ns___2,951,623 2,641,372
deficit
Balance,surplus____ 116,961
74,400
3,107,445 2,767,791
Net revenue
241,469 226.469
Taxes accrued
Operating income_2.865,976 2,541,322
GENERAL BALANCE SHEET JUNE 30.
1909.
1909.
1908.
LiabilitiesAssets$
6,070,600
Cost road & equip_29,679,988 28,949,650 Stock issued
Trust equipment_ 3,688,252 4,774,191 Stock in treasury_ 1,059,409
Stks. & bds. owned 2,590,506 2,622,754 Bonds (see "Ry.&
Ind." Section)..24,772,000
do do in trust 2,177,900 2,177,900
3,688,252
Property and seCar trusts
curities pledged 1,077,305 1,077,305 Pay-rolls, vouchers
& misc. acc'ts„ 2,275,076
114,555
120,181
Lands, &c
417,466
162,373
235,134 Bills payable
Cash
Int. & diva, due &
Due from railroads,
unpaid
258,111
agents, Ind., &c.,
and misc. acc'ts 1,936,750 2,023,917 Int. accr'd,not due 333,580
Material, fuel, &c_ 515,354
577,105 Reserves
299,891
Profit and loss
2,168,607
Total
41,942,983 42,558,137
-V.87, p. 1158.
Total
1908.
6,070,600
1,659,400
24,772,000
4,774,191
2,218,501
276,667
104,484
340,480
147,127
2,194,687
41,942,983 42,558,137
Evansville & Terre Haute Railroad.
(Including Evansville & Indianapolis RR. Co.)
(Report for Fiscal Year ending June 30 1909.)
President IL I. Miller, Oct. 1 1909 wrote in brief:
General Resulls.-The surplus for the year after all charges was $175,116,
being equal to 5% on outstanding preferred stock and 2.86% on outstanding common stock.
Bonds, &c.-The funded debt has been temporarily increased $251,000,
that amount of E. 60 I. first consolidated mortgage bonds having been sold
to provide for the redemption of $251,000 Terre Haute & Southeastern RR.
bonds maturing and paid Sept. 1 1909. Equipment notes amounting to
$173,770 have been paid.
Maintenance.-202.4 tons of new 85-1b. steel rail and 165 tons of relay
70-1b. rail were laid in main track. 100,973 cross ties and 70 sets of switch
ties were renewed. 8.3 miles of woven wire fence were constructed.
During the year 84 freight and other cars, condemned June 30 1907, were
sold or destroyed, and the original cost was credited to "equipment account" and the same amount, less salvage, charged to profit and loss.
Legislation Increases Expenses.-The Federal and Indiana laws, limiting
the hours of service of telegraph operators and other classes of employees,
and the Indiana law requiring an additional brakeman on certain classes
of trains, have increased operating expenses to some extent.
OPERATIONS, EARNINGS, &c., INCLUDING EVANSVILLE &
INDIANAPOLIS.
1908-09.
1907-08.
1906-07.
Total miles operated
310
310
310
Operations841,767
Passengers cavied
840,992
693,313
Passengers carried one mile
30,322,851 29,593,306 25,139,871
Rate per passenger per mile
1.93 cts.
2.29 cts.
1.92 cts.
3,066,837
Revenue freight (tons) carried
2,738,948
3,075,016
Revenue freight (tons) 1 mile
126,407,160 144,096,660 153,095,366
Rate per ton per mile
0.99 cts.
1.03 cts.
1.00 cts.
Passenger earns. (all) per train mile
51.069
$1.059
$1.065
Freight earnings per train mile
52.713
$2.735
$2.506
Gross receipts per mile
$7,337
$6,746
$7,100
INCOME ACCOUNT.
1909.
1908.
1908.
1909.
Oper. Revenues8
Freight
1,298,014 1.439,498 Net earnings__ _-_ 772,033 814,346
Passenger
581,299 570,403 Taxes
110,142 104,278
Mall, express & misc. 195,719 179,447
Other than transp'n_
14-,721
Onerating Income_ 661,891 710,068
18,965
Outsi le oncrations_deb.3,531
17
Total
2.093,997 2,204.069 Hire of equipment,- 72,508 236,088
Other income
47,007
44,987
:
Oper.ExpensesTotal income
777,874 991,160
Malnt. of way, &c__ 268,210 287,064
DeductHabit, of equipment 269,082 303,230
Traffic expenses__ 46,366
39,463 Interest
588,396 577,440
14,362
Transp'n expenses__ 663,532 679,570 Rentals
14,608
80,397 Divs, on pf. stk., 5% *61,197 *61,197
General expenses___ 74,774
Divs.on com.stk.,4% *159,326 *159,326
Total expenses__ A,321,964 1,389,723
Total deductions_ 823,281 -812,571
Net earnings
772,033 814.346
Balance
def.45,407 sr.178,589
t
*The dividends are charged by the company against profit and loss, but are here
deducted from Income account for the sake of simplicity.
GENERAL BALANCE SHEET JUNE 30.
(Including Evansville & Indianapolis.)
1909.
1909.
1908.
$
AssetsLiabilities$
$
Cost of road
11,441,873 11,376,171 Common stock__ 3,987,383
Equipment
4,664,723 4,711,821 Preferred stock__ 1,283,333
Materials on hand_
153,220
210,954 Funded debt (see
Cash on hand
654,925
447,945
"fly. & Indus."
Due from agts.,&c.
9,751,000
99,650
Section)
125,147
244.690
Bills receivAble___ 101,423
307,867 Bonded interest
170,624
Due from oth^rs__
169,627 Pay-rolls & vouch. 115,495
Bds.&stks. owned 517,236
517,236 Equipment notes_ 1,080,000
3,229
3,511 Imp'ts, &c., funds
73,485
Prepaid Insurance
Miscellaneous
133,026
Income account
1,138,491
17,806,903 17,870,279
Total...
-V.87. p. 1155.
[Vol,. lax=.
TH E CHRONICLE
1220
Total
1908.
3,987,383
1,283,333
9,500,001)
241,304
221,408
1,253,770
60,568
131,997
1,190,515
17,806,903 17,870,279
Montreal Street • Railway Co.
(Report for Fiscal Year. ending Sept. 30 1909.)
President L. J. Forget in the annual report dated Montreal
• •
October 6 says in substance:
General Results.-The gross earnings increased during the year $197,406,
or 5.37%; the operating expenses $96,625, or 4.48%; the net earnings $100.781, or 6.63%. The per cent of expenses to gross earnings is 58.20, against
58.69% for the previous year.
Renewals.-Your directors appropriated during the year from surplus
earnings $175,000 for renewals. This amount, added to the balance of $29,353 carried forward from previous years, made a total credit to the account
of $204,353. Against this amount there has been charged during the year
$173,815.
Financial.-The premium on the last issue of new stock (V. 86, p. 1467)
paid up during the year, amounting to $142,684, has been credited to the
general surplus account. The amount of $59,027, representing the taxes
on poles, rails, wires and machinery due the city of Montreal, in accordance
with the recent judgment up to 1907, has been debited to this account.
The amount due for the last two years has been charged against operation.
The company has expended during the year on construction account, $121,866, on equipment account, $43,837, and on real estate and buildings, $23.745, a total of $189,448.
Owing to the increase of the system the present shops at Hochelaga are
inadequate for our repair and construction work, and as there is no available property adjoining, your directors have purchased 75 acres of land
in the northeast end of the city. This land will furnish ample room for all
extensions that may have to be made from time to time.
General.-The company was again obliged to refuse payment of a portion of the city's accounts for snow removal, owing to the wasteful manner
in which the work was carried out. The snowfall was nearly two feet,less
than the previous year; but notwithstanding this the city claims to have
expended $208,436, an increase over the previous year of $5,901 and an
increase over two years ago of $77,799, with 20.2 inches less snowfall.
The increase in street mileage during this latter period was one mile, which
at the average cost would only amount to $4,222.
The company paid to the city of Montreal the usual property taxes and
percentage on earnings, amounting to $286,086, on account of snow removal, $83,158, and taxes on poles, rails, wires and machinery for the year,.
$16,941, a total of $386,185, being an increase of $45,653 over the previous year.
1908-09.
1907-08.
1906-07.
1905-06.
95,376,373 90,746,032 86,741,212 76,356,090
Passengers carried
32,285,208 30,343,113 28,675,256 24,516,067
Transfers
$3,874,838 $3,677,432 $3,503,643 $3,100,487
Gross receipts
2,104,653
Operating expenses_ _ 2,255,019
2,158,394
1,850,720
P.C. op exp. to car earns.
(58.20)
(58.69)
(60.07)
(59.69)
Net earnings
$1,619,819
55,607
Int. from M.P.&I.Ry.__
$1,519,038
72,011
$1,398,090
55,101
$1,249,767
Total income
$1,675,426
DeductP. c. of earnings to elty_
$260,203
179,725
Int. on bonds and loans_
5,821
Rental of leased lines__ _
976,332
Dividends (10%)
Contingent fund
175,000
Fire insurance fund_ _ _ _
25,000
$1,591,049
$1,454,091
$1,249,767
$242,431
207,187
5,020
900,724
175,000
25,000
$214,840
195,833
3,060
768,100
171,517
25,000
$178,408
163,600
- -711-0-05.
66
179,056
25,000
Total seductions
Surplus
$1,555,362
$35,687
$1,378,350
$75,741
$1,246,064
$3,703
As3eis-
Construction, &c_
Equipment, &c_ _ _
Real estate and
buildings
Stocks & bonds of
other companies
Stores
Acc'ts receivable_
Cash In bank and
on hand
Fire insurance I'd_
Montreal Park &
Island fly. Co.
advances
Montreal Terminal
fly. advances__
$1,622,082
$53,344
BALANCE SHEET SEPT. 30.
1909.
1908.
1909.
1908.
Liabilities$
$
4,844,296 4,722,430 Capital stock
10,000,000 9,429,262
5,183,081 5,139,243 Bonds
4,420,000 4,420,000
6,035
Mortgages
41,034
2,119,781 2,096,036 Acc'ts & wages_ _ _
199,284
182,854
Int. on bds. & loans 76,65
75,310
3,649,434 3,573,074 Tax on earnings__ 271,474
253,238
244,194
324,191 Employees' secur's
18,480
17,341
97,868
119,435 Unclaimed My's__
1,957
1,957
Unredeemed tickets 59,327
51,679
1,118,213
629,200 Suspense account. 269,801
198,944
370,154 Dividend Nov. 2_ _ 250,000
415,398
227,500
Contingent acc't_.
30,537
29,353
Fire insurance fund 470,109
423,959
389,498 Surplus
- 564,790
2,179,218 2,042,216
14,813
30,786
Total assets_ ...l8,251,868 17,394,647
Total liabilities.18,251,868 17,394,647
STOCKS AND BONDS, &c., IN TREASURY.
Bonds.
Stocks.
Montreal Park & Island By. Co
$1,025,0001 $720,900 corn.
Montreal Park & Island By. Co. overdue interest
$315,000 pref.
(not included in assets)
763,640
Montreal Terminal By. Co
613,000
1,000,000
Suburban Tramway & Power Co
850,000
850,000
Total
$3,251,640
$2,885,900
EARNINGS OF MONTREAL PARK & ISLAND RY.
Gross
Fiscal
Net Contingent Fixed Preferred Balance,
Earnings. Earnings. for Renew. Charges. Dividend, Deficit.
Year.
$280,493 $82,057 $25,000 $123,255 $18,900 $85,095
1908-09
96,146
277,634
25,000
110,325
1907-08
18,900
58,079
106.118
1906-07
262,81
18,900
69,840
Montreal Park
' & Island fly. on Aug. 31 1909,
The balance sheet of the MO
outstanding
$315,000
preferred
and
$720,900 cornseparately given, shows
tnon stock and $1,025,000 bonds; also Montreal Street By. Co.'s loan, $531,112; accrued interest on bonds, $795,249; and cumulative dividends on pref.
stock, $219,531.
The gross earnings of the Montreal Terminal By. for the fiscal year
1908-09 were $108,616, against 897,355 in 1907-08; net, $6,767; tax on earnings, $1,290; bond interest, $34,683; bal., def., $29,206.-V. 87, p..,1235.
American Malt Corporation.
(Official Statement of October 28 1909.)
President Charles A. Stadler, New York, October 25 1909,
says in substance:
Since our last report to you, dated Oct. 28 1908, additional deposits of
common and preferred stock of the American Malting Co. have been made
tinder the plan for reduction and readjustment of capital, so that the total
amounts owned by your company, also the amounts unassented, are as
follows:
Owned.
Unassented.
$12,897,100
Common stock
$502,900
Preferred stock
13,985,500
454,500
(The balance of the outstanding common stock of the American Malting
Co.-$1,100,000-is held In the treasury of that company.)
The amounts shown to be still outstanding in the hands of the nubile
constitute less than 3.31% of the entire capital stock of the Am. Malt'g Co.
Disposition thus far Made of the Capital Stock of the Amer. Malt Corporation.
$6,000,000 $9,000,000
Preferred.
Common.
Issued in exchange for stock of American Malting
85,074,724 $8,671,010
Co. under plan
Reserved for outstanding stock of Malting Com281,790
221,276
pany as yet undeposited
Left free in treasury for general purposes of the
deell0a4re,0a00a semi- 47,200
corporation
annual
The directors of the American Malting Co. have
dividend of $1 56 per share upon the preferred stock of that company,
payable on Nov. 1 to stockholders of record on Oct. 21 1909. As your
company is the owner of 139,855 shares of the preferred stock of the American Malting Co., the payment of this dividend will bring into your treasury
the sum of $218,174.
Nov. 6 1909.)
THE CHRONICLE
Your directors subsequently declared a semi-annual dividend upon the
pref. stock of the corporation of'254%, payable on and after Nov. 3
1909 to stockholders of record Oct. 21 1909. After the payment of this
dividend there will still remain accrued and unpaid upon the preferred
stock of your company dividends amounting to 1234%.
(Compare report of American Malting Co. below.)-V.87, p. 1301, 1236
American Malting Company.
(Report for Fiscal Year ending Aug. 311909.)
Chairman Wilberforce Sully, New York, Oct. 25 1909,
wrote in brief:
•
1221
2,000 of the former and about one dozen of the latter, as well as about
1,000 tungsten lamps for the less important streets have now been installed and it seems to be the genral opinion that we now have by far the
best-lighted city In this country.
Acquisitions.--Some years ago your company Indirectly acquired an
interest in the electric and gas properties located in the cities of Newton
and Chelsea and in the town of Watertown. During the latter part of the
year ending June 30 1909 agreements were made to purchase the electric
properties in Newton, Chelsea, Watertown, Brookline, Brighton and
Waltham, and to dispose of whatever interest your company had in the
gas properties located in Newton, Chelsea and Watertown. Since the close
of the fiscal year these electric properties have been acquired and possession
was taken on Sept. 1 1909. (V. 88. P• 1132.)
Contract to Supply Boston & Suburban Electric Companies.-In connection
with these purchases, a long-term agreement was made with the subsidiary
companies of the Boston & Suburban Electric Companies by which your
company is to furnish, during a term of years, all the electricity which
will be needed in the operation of their street railroads. A portion is already
being supplied from the Natick sub-station of your company,and land has
been purchased and a sub-station is now being equipped in the town of
Hopkinton.
Earnings-Reduction in Rates Proposed.-These purchases and this
street railway contract will increase the earnings of your company approximately $600,000 per year and will be the means of enabling a further
reduction in the retail price of electricity from 12 cents to 11 cents on
Jan. 1 1910, and an understanding to this effect has already been arrived
at with the Board of Gas and Electric Light Commission.
Notes.-New Stock.-These purchases have temporarily been financed
by notes and it Is intended to ask you at the annual meeting to authorize
the proper officers to take the preliminary steps toward increasing the
capital stock by an amount which will provide sufficient funds not only to
take up the notes issued for the purchase of these properties but also those
issued from time to time to take care of the normal growth of the company
since the last increase of the capital stock.
General Results.-The net profit from the year's operations (after meeting
interest, taxes, maintenance and betterments) was $557,383. During the
follows:
year the company derived $48,342 cash other than from earnings asMilwauSale of unused properties, $29,812 50; insurance from fire loss atproperty,
kee, $3,530; proceeds of mortgage taken in part payment for Erie
$15,000.
During the year plants and good-will account was increased $6,901,
owing to expenditures for construction, and reduced $33,342, the $15,000
item in the above statement having been credited to plants and good-will
in April 1908.
Ofthe cash received from the above sources $18,530 was deposited in the
sinking fund together with other items amounting to $1.546, out of which
16 of the
the sinking fund disbursed in the purchase (for cancellation) of
company's mortgage bonds from those held in its treasury and for various
expenses $16,351.
During the year the company acquired in settlement of an obligation a
guaranteed mortgage of $92,000 on New York City property.
Sinking Fund.-Owing to the payment by the company of two dividends
during the fiscal year aggregating $3 12 per share on the preferred stock,
the company became indebted to the first mortgage sinking fund in the
sum of $225,264 and settled the same by the delivery of bonds to the trusOPERATIONS FOR THE LAST FOUR FISCAL YEARS.
tees for cancellation to the amount of $218,000 (par value), said bonds
being credited by the trustees of the sinking fund at par and interest thereon,
1908-09.
1907-08.
1905-06.
1906-07.
together with cash for the balance of said sum not represented by said bonds.
$ "va
There were also delivered $33,000 (par value) of the bonds to the said Gross earnings
4,111,343
4,229,239
4,020,621
3,780,911
All
properties.
unused
trustees for cancellation by reason of sales of
taxes
incl.
2,737,498
Expenses,
2,658,929
2,410,485
2,659,658
bonds referred to as delivered to the sinking fund are bonds which were
purchased for cash in the open market and held free in the treasury as quick
1,373,845
Net earnings
1,570,310
1,450,963
1,370,426
assets. By the cancellation of the mortgage bonds before enumerated the Miscellaneous profits_ __
45,360
38,442
41,340
49,257
outstanding mortgage bond liability was reduced $267,000 during the year.
purthe
authorized
directors
Bonds in Treasury.-During the year your
1,419,205
earnings
Net
1,608,752
1,492,303
1,419,683
chase of $44,000 (par value) of the company's mortgage bonds for the Interest
86,845
54,988
102,417
78,966
treasury. Adding those purchased and deducting $267,000 (par value) Dividends
(11)1,424.389(11)1,390,796(11)1,304,284(10)1.148,810
canceled leaves a par value of $182,000 in the company's treasury, as
shown by balance sheet.
1,511,234
1,445,784
1,406,701
1,227,776
Working Capital.-The company begins its present fiscal year with $5,- Undivided profits.
def.92,029
162,967
85,602
191,907
498,869 net working capital. The inventories of barley and malt have
been valued at a figure under cost, and since the close of the fiscal year conBALANCE SHEET JUNE 30.
tracts have been made for the sale of all the malt and barley on a malt
1908.
1909.
1909.
1908.
basis on hand Aug. 31 1909 at a profit.
$
LiabilitiesAssets$
$
Deposits Under Plan.-Attention of stockholders is again called to the
Capital stock
13,603,400 12,643,600
plan for reduction and readjustment of capital, and to the fact that,out of Installation and
341,000
property
21,579,218 18,937,610 First mtge. bonds 227,000
a total of 289.400 shares of preferred and common stock, 268,826 shares
Consol. bonds_ _ _ _ 1,245,000 1,144,000
have been deposited under the said plan and exchanged for stocks of the Unfinished instal579,036 1,937,804 Premium on stock 7,604,940 6,501,170
lation
American Malt Corporation, leaving less than 3.31% of the capital stock
04,329
61,419
72,854 Accounts payable_
of the American Malting Co. In the hands of the public unassented. No Cash in banks_ __ _ 320,509
529,846 Notes payable_ _ _ 949.000 1,647,000
advantage can be gained by outstanding shareholders In withholding assent Stock on hand_ __ _ 370,994
42.000
45,500
1,657,670 1,511,802 Coupon notes__ _ _
to the plan and there are very obvious advantages in making the exchange. Notes receivable
66,827
72,025
Aec'ts receivable_ 353,409
363,896 Accrued taxes_ _ _
INCOME ACCOUNT FOR YEARS ENDING AUG. 31.
47.6,119
sundry open accls
87,990
442,526
107,381 Dividends
335,036
23,642
29,428 Reserve for maint.. 543,984
1905-06. Cash in sink. fund_
1906-07.
1907-08.
1908-09.
15,324
8,811
Replacetn't acc't_
Profit on malt, barley &
Prnjlt and loss_ ..... 105.860
247,218
other products dealt
in, including int. on
Total'
24,972,468 23,490,621
Total
24,972,468 23,490,621
securities owned,loans
606,526 -V. 89. p. 667.
10,517
1,319,999
880,993
and balances
Deduct201,360
200,100
190,429
198,315
Int. on mortgage bonds_
Massachusetts Gas Companies, Boston.
62,953
71,899
79,616
74,989
Taxes
86,561
96,121
93,991
53,565
(Report for Fiscal Year ending June 30 1909.).
Betterments & maint
350,874
368,120
367,295
323,610
Total deductions _ _
Balance, surplus or del_ sur.557,383 sur.952,704 def.357,603 sur.255,652
BALANCE SHEET AUG. 31.
1909.
1908.
1909.
$
LiabilitiesAssetsPlants & good-will 27,396,561 27,423,003 Capital stock, pref.14,440,000
Common stock... 1,100.000 1,100,000 Capital stock,com.14,500,000
18,725 First M. bds.,0%. 3,422,000
Securities other cos. 18,725
5,040
2,853,263 1,420,305 Accounts payable_
Cash
31,663
Acc'ts & bills rec_ 1,544,942 1,924,095 Accrued taxes_ _ _ _
51,330
33,436 Accr'd int. on bds.
30,801
Taxes & insurance
100.000
828,171 1,846,209 Reserve funds_ _ _ _
Inventories
405,000 Profit and loss__ 1,537,590
182,000
Bonds purchased_
435
4,160
Sinking fund
112,000
129,000
Mtges. on real est_
1908.
14,440,000
14,500,000
3,689,000
36,699
31,441
55,335
100,000
1,430,735
Total
34,087,623 39,283,209
39,087,623 34,283,209
Total
See report of American Malt Corporation above.-V.89. v. 1301.
Edison Electric Illuminating Co. of Boston.
(Report for Fiscal Year ending June 30 1909.)
President Charles L. Edgar says in substance:
Connected Load.-The increase in connected load has again surpassed
any previous record, being far in excess of any former year. This has
been brought about in spite of the continued depression, very largely
because of the reduction In price made on July 1 1908.
Number of Lamps and Motors Connected.
Motor
Incand. Arc
Arc Motors I
Incand.
June 30- Lamps. Lamps. (H.P.) I,june 30- Lamps. Lamps. (H.P.)
10,339
863,313
35,096
____
11907
9,282 44,066
1909 ____1,040,613
9.867 39,422 11906 ____ 788,560 10,534 30,431
1908 ____ 938,670
Earnings.-The earnings have, however, during the past year felt the
bad effects of depression more than they have the good effects of the reduction in price. As will be remembered, a reduction was made in 1906
which saved our customers approximately $200,000 a year and the times
being normal, the increase in gross earnings was, notwithstanding this
reduction, approximately $250,000. The reduction made in July 1908
showed the same saving to the customers, but, owing to tile times, very
little of the loss from this reduction was made up during the year, so that
the earnings actually show a drop of somewhat over $100,000.
Then, again, the improvements in the manufacture and the reduction
In the cost of. the Tungsten lamps have led to their very large introduction
In our territory. As the use of these lamps increases it should not be
expected that the growth in earnings should keep pace with the growth in
connected load. The increasing introduction of this high economy lamp,
while temporarily checking the growth of our earnings is,in reality popular
izing the electric light and putting it ahead of any of Its competitors in
price as it long has been In quality.
Improvements and Additions.-The transmission line between Boston and
Woburn has been completed and the steam station in the latter city shut
down and changed into one of our regular sub-stations. The transmission
line between Boston and Medfield has been completed as far as Walpole
and that section is now nermanently running from the L Street Station.
The new sub-station on Prince Street is about to be put into operation.
At the L Street Station the first two turbines, installed some four or five
years ago, have been materially increased In capacity at a somewhat nominal
expense. The capacity of this station is now 80,000 horse-power instead
of 68,000 as. before.
Nov street Lighting Contract.-The street lighting contract for the city of
Boston expired about a year ago, and after a thorough study of the street
lighting situation a proposition was made to the city and finally accepted
for a period of five years. The proposition embodied the introduction
of two new tYpes of lamps-one of double the candle power of the. old
Gilbert arc lamp for use In the more prominent streets In Boston and the
other of four times the candle power for use in the public squares. Nearly
President C. Minot Weld, Boston, Oct. 12 1909, writes in
substance:
Dividends.-During the year ending June 30 1909 the trustees voted to
set aside $750,000 from the accumulated earnings for the payment of dividends upon the common shares in the year ending June 30 1910, and that
out of that sum a dividend of 1% be paid on the first day of August 1909.
(The same amount was set aside in 1905-06, 1906-07 and 1907-08, dividends
at the rate of 3% per annum having been regularly paid Aug. 1, Dec. 1 and
-Ed.)
.
April 1 since Aug. 1 1906.
'Property Account.' -This includes the following securities:
Owned.
*Issued.
Owned. *Issued.
StocksStocksNew Eng.Coal&Coke Co_499,000 499,000
New England Gas
17,500,000 17,500,000 Federal Coal & Coke Co.360.500 500.000
& Coke Co
Boa. Con. Gas, Co. 15,110.600 15,124,600 Bonds275,000 Federal Coal & Coke Co.
East Bost. Gas Co_ 269,800
first mortgage
300,000
500,000 500,000
Chelsea Gas Lt. Co. 296,900
Federal Coal & Coke Co.
Citizens' Gas Light
251,000 251,000
33,000 second mortgage
33,000
Co. of Quincy
* Supplied, not in report.-Ed.
During the year we purchased $178,000 2d mtge. bonds of the Federa
Coal & Coke Co.,and now own all of the outstanding bonds of that company.
Since the close of the fiscal year the Boston Consolidated Gas Co.and the
Chelsea Gas Light Co. have sold to the Edison Electric Illuminating Co.
their electric departments. At the same time the trustees purchased the
entire capital stock of the Newton & Watertown Gas Light Co., which company had simultaneously purchased the gas department of the Waltham
Gas Light Co.
New England Gas (4, Coke Co.-Tbe net earnings for the year are not as
large as the preceding year, owing to the general depression, which was
particularly marked in the fuel business. The construction work to facilitate the handling of coal in large quantities is now virtually completed, and
with the general improvement In the fuel business which we believe is now
on the way there should be an improvement in earnings during the present
year. After providing for dividends and all other charges, the surplus
account on June 30 1009 was $122,595.
Boston Consolidated Gas Co.-The net addition in street mains for the
year was 111,615 feet; total output of gas to consumers, 4,434,206.000
cubic feet, an increase 6f 4.44%. The net gain in meters set during the
year was 3,800. During the last three months of the fiscal year the earnings
were considerably larger than for the same period in the preceding year.
Notnithstanding the general condition of business, the net earnings show
an increase of $179,648, wIch is only $27,228 less than the net earnings
of the various companies constituting the company during the year 1904-05,
with gas being sold at $1 per 1,000 cubic feet, as compared with 80 cents
during the last year. The company paid the 9% dividend for the year
ending June 30 1909, which it was legally entitled to do under the provisions of the so-called Sliding Scale Bill.
During the year the company spent $444,593 In new construction work.
As a result of such expenditures the total cost of gas at the burner during
the year showed a decrease of 5.25% compared with the preceding year
and 10.13% compared with the year ending June 30 1905.
Chelsea Gas Light Co.-The net gain in meters set was 1,172; net addition
In street mains 6,935 feet. The total output of gas to consumers was 109.335,000 cubic feet, a decrease of 4.9%, due to the Chelsea fire.
East Boston Gas Co.-The net gain in meters set was 676: net addition in
street mains 2,927 feet. The total output of gas to consumers was 154.314,000 cubic feet. an increase of 13.26%,
Citizens' Gas Light Co. of Quincy.-The net gain In meters set was 851,
and the net addition in street mains was 53,848 feet. The total output of
gas to consumers was 38,503,000 cubic feet, an increase of 32.96% over
the preceding year. This company shows a deficit of only $3,662, as compared with 58.066 for 1907-08.
New England Coal & Coke Co.-During the year the New England Coal
& Coke Co. was incorporated under the laws of Massachusetts and took
over the business of the New England Coal & Coke Co. as a voluntary association, and also the business and assets of the Massachusetts Steamship Co.,
including the three steam colliers, Everett. Malden.and Melrose. Since
the company commenced to ship coal, which was practicsily April 1 1909.
[VoL. Lxxxix.
THE CHRONICLE
1222
until June 30 1009, they shipped 490,383 tons, and the contracts which they
now have on hand will show a material increase in shipments in future
months. The earnings since incorporation have been very satisfactory,
notwithstanding the fact that the average selling price of coal this spring
has been lower than for the last eight years. After providing and setting
aside $40,000 depreciation on the three steamers and $3,726 for shrinkage
on coal in storage, the surplus account shows a balance of $93,980 on June 30
1909.
Federal Coal & Coke Co.-During the year this company mined and sold
287,745 gross tons of coal. There has been spent on improvements over
$250,000, which during the present year should show in increased tonnage
and a decreased cost.
MASSACHUSETTS GAS COMPANIES-YEAR ENDING JUNE 30.
1905-06.
1906-07,
1908-09.
1907-08.
Interest on bonds, notes.
24,466
333,584
155,620
29,934
certificates &c
1,633,894
1,522,380
1,791,745
Dividends received
1,946,960
2,102,580
Total earnings
DeductExpenses
55,324
Interest
172,385
Divs. on pref. shares,4% 1,000,000
1,227,709
Total deductions
874,871
Balance, surplus
926,002
Surplus from prey. years
Deb.39,999
Adjustments
1,760,874
Total
750,000
Divs. on corn. shares,3%
1,821,679
1,658,360
1,855,964
35,658
29,867
1,000,000
43,648
13,327
1,000,000
62,575
37,733
1,000,000
1,056,975
1,065,525
1,100,308
601,385
756,154
755,656
1,074,013
912,418
916,506
Cred.7,430 Deb.12,980Cred.151,851
1,676,002
750,000
1,662,418
750,000
1,824,013
750,000
1,010,874
926,002
912,418
1,074,013
Balance
The net undivided earnings of the constituent companies from the operations of 1908-09 (see the several statements below) show a deficit of $52,850,
against $11,593 in 1907-08 and an aggregate surplus of $127,309 In 1906-07
and $66,272 In 1905-06.
Standard Milling Co.
(Report for Fiscal Year ending Aug. 311909.)
The results for the year ending Aug. 31 1909 compare with
those of previous years as follows:
1907-08.
1906-07.
$70,657
$46,973
270,008
239,408
409,819
373,452
3,126
44,402
1,416
, 46,665 loss 15,662
1908-09.
Standard Milling Co _ _ _ _
N. W. Con. Mill
H. J. Jewell Co--------- .$749,884
Duluth Superior Mills Co
Daisy Roller Mills '
Southwest. Milling Co __
Net profits
Interest on bonds
$801,691
175,350
$749,884
150,433
$590,451
Balance
Div. preferred stock_ __(4%)275,728
Balance, surplus
$314,723
1905-06.
$126,010
89,299
243,453
9,388
$688,572
175,350
$468,150
179,850
$626,341
$513,222
(3)206,763(2 M)172,274
$288,300
(2)137,795
$340,948
$150,505
$419,578
BALANCE SHEET AUG. 31.
1909.
1909.
1008.
Liabilities$
-$
Assets
$
Preferred stock_ _ _ 6,000,000
Plant, trade-marks,
good-will, &c__ 7,701,092 7,711,344 Common stock___ 4,600,000
104,941 First mtge. bonds.a3,272,000
49,785
Cash
54,5:33
Interest accrued_..
Accumulated earns.
due from sub-cos.2,442,220 2,086.757 Insurance reserve_ 312,188
Surplus earnings
Net available assets
account
2,626,399
163,206
242,672
at branches
4,500 Miscellaneous ____
58,696
h133,500
Investments
558,077
312,188
Insurance fund_
387,569
321,508
Miscellaneous
Securities covered
by 1st M. bonds x6,568,014 x6,464,558
52,837
Sinking fund
51,289
1908.
6,900,000
4,600,000
3.317,000
58,700
283,077
2,311,676
61,788
OPERATIONS OF SUB-COMPANIES DURING YEAR 1908-09.
17,823,817 17,532,241
Total
17,823,817 17,532,241
Additions to
- Total
-Gas to Consumers
Street Mains,
Increase.
Total Cubic Ft.
Authorized issue. $6,250,000; issued, $5,910,000; held in treasury to take up
a
4.44% ourstanding H. J. J. M. Co. and N. W. C. M. Co. bonds, $2,278,000; canceled
4,434,206,000
Boston Consolidated Gas Co_ _ _ _111,615
6,935
109,335,000
•4.90% (sinking
Chelsea Gas Light Co
fund), $360,000; balance outstanding, $3,272,000.
2,927
13.26%
, 154,314,000
East Boston Gas Co
h H. J. J. M. Co. debenture bonds, $133,000; miscellaneous, $500.
32.96%
38,503,000
53,848
Citizens' Gas Light Co
Co. of N. J. 1st M. 6s, $1,052,000 (out of $2,500,000
Hecker-Jones-Jewell
x (1)
at par.)
Decrease caused by Chelsea fire.
(2) S1,000,000 Hecker-Jones-Jewell Milling Co. of N. Y. (out of $1,000,000),
valued at $3,537,105.
BOSTON CONSOLIDATED GAS CO.-YEAR ENDING JUNE 30.
(3) Northwestern Consol. Milling Co. pref. stock, $1,000,000 (total issued), valued
1908.
1909.
1908.
1909.
at $1,000,088; corn. stock, 81,145,750 (total issued), valued at $229,408.
$
$
$
$
(4) Duluth-Superior Milling Co. stock, $250,000 (total amount), at par.
1,091,117
earnings
1,265,765
Net
3,946,625 3,841,555
Gross income
(5) Southwestern Milling Co. stock, 1,000 shares (total amt.), valued at S389,413.
Deduct2,688,199 2,761,881
Expenses
(6) Hecker Cereal Co. stock, $10,000, at par.
68,734
37,758
Interest
(7) Daisy Roller Mills stock, $100,000, at par.-V.89, p. 1071, 781.
Dividends
1,361,214 1,209,968
1,258,426 1,079,674
Net income
11,443
7.339
Miscellaneous income
Total
1,429,948 1,247,726
164,183 *156.609
1,265,765 1,091,117 Balance, deficit
Net earnings
* In addition to the earnings above stated there was credited to profit and loss
account during the year $488,318 profit on sales of real estate.
NEW ENGLAND GAS & COKE CO.-YEAR ENDING JUNE 30.
1908.
1909.
1908.
1909.
80,211
2,509,157 2,564,503 General exp. & roan_ 84,990
Production
51,283
Operating expenses 1.863.911 1,839,194 Taxes and innurance 55,132
Interest on mortgage 16,222
16,989
525,000 525,000
Net income from op_ 645,246 725,309 Dividends
39,401
Miscellaneous income 29,566
Total deductions_ 681,344 673,483
def.6,532sur.91,227
674,812 764,710 Balance
Total income
CHELSEA GAS LIGHT CO., EAST BOSTON GAS CO., CITIZENS' GAS LIGHT
CO. OF QUINCY, NEW ENGLAND COAL & COKE CO., FEDERAL
COAL & COKE CO.-YEAR ENDING JUNE 30 1909.
Chelsea E.Boston Citzens' .N.E.Coal Fed. Coal
Gas Co.GasLt.Co. &CokeC'o. &CokeCo.
GasL.Co.
$166,450 $184,372 $54,107 $690,005 $240,404
Gross Income
357,605
217,103
38,027
135,724
121,686
Expenses
Net income from oper_ $44,764
501
Miscellaneous income
$48,648
320
$16,080
225
$332,400
$23,301
$45,265
Net earnings
Deduct$9,451
Interest
30,000
Dividends
5,229
Extraord.(Chelsea fire)
$48,968
$16,305
$332,400
$23,301
$1,613
33,000
19,967
75,814
150,000
50,351
Total
Balance
$44,680
S.585
$34,613 $19,967 $225,814
$50,351
3.14.355 D.$3,662S.1106,586 D.$27,050
* Includes operations of Massachusetts Steamship Co. and New England Coal &
Coke Co. as a voluntary association for 9 months. The gross earnings include a
dividend paid by the Mass. SS. Co. on March 19 1909, at which time the latter's
stock was owned by the N. E. Gas & Coke Co.
GENERAL INVESTMENT NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
Alabama & Vicksburg Ry.-Report.-For year ending
June 30:
Total
Fiscal
Divs. Balance,
Operating Net (aft. Other
YearRevenues. taxes). Income. Deduct'ns. (7%) Surplus.
$1,526,357 $286,665 $72,763 $169,761 $73,500 $116,166
1908-09
47,655
73,500
84,120 231,105
1,511,715 268,139
1907-08
Deductions from Income as above include $49,430 for additions and betterments, against $109,447 in 1907-08.-V. 87, p. 1295.
Alaska Northern Railway.-Incorporation of Successor
of Alaska Central Ry.-This company was incorporated on
Oct. 28 1909 under tile laws of the State of Washington with
$30,000,000 of authorized capital stock as successor of the
Alaska Central Ry., recently foreclosed. (V. 89, p. 992.)
The incorporators are: Oscar G. Laberee (President), Richard
D. Miller, Edward H. Morrison and Frederick Low and
George Turner. President Laberee is quoted as saying:
The company is to be directed by Spokane men entirely. The road has
been financed and it will take $30,000,000 and three years to complete it,
according to our plans. We will build a 38-mile branch from Mlle Post 146
to the Manatuska coal fields. Another division 300 miles long will run
through the Kuskokwim country to the new gold fields at Iditarod, leaving
the main line at Susitna. J. Plerpont Morgan is not interested in any way
in the Alaska Northern rallway.-V. 89, p. 1140.
Albany Southern RR.-Redmond & Co. and J. & W.Seligman & Co. of New York announce that all of the first mortoage 5% bonds recently offered by them have been sold.
Compare V.89, p. 1140.
Atchison Topeka & Santa Fe Ry.-Called Bonds.-See
Cane Belt RR. below.-V. 89, p. 917, 855.
Boston & Worcester Street Ry.-Report.-The results for
the year ending Sept. 30 were:
•
BALANCE SHEET OF MASSACHUSETTS GAS COMPANIES JUNE 30
1908.
1909.
1008.
1909.
$
$
$
Assets$
Property account _52.900,307 52,353,521 Preferred stock_ _25,000,000 25,000,000
168,196 Common stock_ -.25,000,000 25,000,000
Cash in banks__ 333,865
17,500 20-year bonds_ ___ 6,000,000
Notes receivable__ 4.234,140
40,000
Sink. fd. 20-yr.bds.
Accounts receiva5,691 Notes payable_
775,000
3,138
ble
Gross.
Year10,572 1908-09
4,747
Accounts payable..
Bond disc. suspense 417,504
$577,510
83,333 1907-08
83,333
Pref. div.1 accrued
553,613
Res. for corn. div_ 750,000
750,000 1906-07
531,560
Surplus
926,002 -V. 87, p. 1418.
1,010,874
Total
57,888,954 52,544,908
57,888,954 52,544,908
BOSTON CONSOLIDATED GAS CO. BALANCE SHEET JUNE 30.
1909.
1903.
1908.
1909.
Liabilities3
$
$
s
Assets15,124,600 15,124,600
Real est. & mach'y25,824,063 25,395,109 Capital stock
2,373,379 1,817,506
493,027 Debts
Materials, &a_ _ 534,356
142,998
153,530
Guaranty fund
Cash, debts reedy380,465 Profit and loss__ 8,986,021 9,183,587
279,111
able, &c
Total
Net.
$256,417
270,696
258,195
Charges.
$178,954
155,065
151,661
Balance.
Dividends.
(3%)$60,750 stir. 16,713
(6%)121,500 def. 6,768
(6%)103,500 sun 3,034
Buffalo Rochester & Pittsburgh Ry.-Subsidiary's Stock
Increase-Trackage Agreement.-A circular says(V.89,p.1141):
The Clearfield & Mahoning Ry. Co., whose line Is leased by your company,
has, with the consent of your board of directors, Increased its capital stock
from $750,000 to $1,000,000. This additional stock will be Issued as
required to pay for the cost of revising and improving the line and replacing
the bridges with stronger structures, to allow for the use of heavier locomotives. These improvements are being made in order the more economically to handle the increasing traffic from your main line, as well as that
coming
from the Lake Shgre & Michigan Southern Ry. Co., as lessee of
26,637,530 26,268,691
Total
26.637,530 20,208,601
Total
the Jamestown Franklin & Clearfield P.R.
(This balance sheet was furnished to the Massachusetts authorities, but does not
An agreement has been entered into with these companies, under which
they arc granted trackage over your lines from Falls Creek, Pa., to Clearappear in the report.)
field, Pa., a distance of 30.93 miles, of which 25.87 miles belong to the
OPERATIONS OF BOSTON CONSOL. GAS CO. FOR YEARS END. JUNE 30. Clearfield & Mahoning Ry. Co. By the terms of this agreement, the Lake
Shore & Michigan Southern Ry. Co., as lessee of the Jamestown Franklin
Reported by Public Accountants as Required by Sliding Scale Act.
& Clearfield RR.,is to pay your company $42,000 per annum for the use
1907-08.
1908-09.
of
the line, besides maintenance according to wheelage. The agreement
2,270,273,000 2,361,444,200
Gas purchased (cubic feet)
at the rate of 2% per annum,
2,634,062,000 2,395,108,000 also provides for an increased compensation
Gas manufactured (cubic feet)
on the cost of further improvements made by mutual consent, when necesThe
extends over a period
agreement
traffic.
tile
accommodate
sary
to
4,904,335,000 4.756,552,200
Total
on two years' notice by either
4,773,194,290 4,512,607,535 of 25 years at the end of which It is terminable
Gas sold during year (cubic feet)
party. The Lake Shore & Michigan Southern Ry. Co. (see that company
Cost of gas in holder (per 1,000 cubic feet)below) began running trains over your lines on Sept. 26 1909.-V.89,p.1141.
30.45 eta.
30.50 cts.
Gas purchased
30.96 ets.
Camden & Trenton Ry.-Sale Postponed.-The United
29.87 cts.
Gas manufactured
32.63 els. States Circuit Court of Appeals at Philadelphia on Nov. 4
30.99 cts.
Gas sold
23.01 cts.
21.73 cts.
Cost of distribution, management, &e
Total cost of gas sold (excluding Interest, depreciation and reserve)
-V.89, p. 4f.
52.72 cts.
55.64 eta.
granted to Daniel Killian, a bondholder, permission to appeal
from the judgment of foreclosure and sale; also a stay of the
sale, which had been set for Nov. 12.-V. 89, p. 092.
Nov. 6 _909.,
THE CIIRONICLE
Cane Belt RR.-Bonds Called.-This company, controlled
by the Atchison, has called for redemption its entire issue
of $750,000 1st M. 5s dated 1901. Payment of principal
and interest will be made on Dec. 1 1909 at the Lincoln Trust
Co., New York, or at office of Atchison Topeka & Santa Fe
Ry. Co., 5 Nassau St., New York.-V.87, p. 36.
Carolina Clinchfield & Ohio RR.-Completed to Spartanburg, S. C.-The first through train from Dante, Va., to
Spartanburg, S. C., the southern terminus of the road, 244
miles, was run on Oct. 28, the line from Bostic to Spartanburg, 33 miles, being completed. An extension is proposed
northerly from Dante to Elkhorn, W. Va., in the coal fields.
See map in "Railway and Industrial" section for Oct. 1909,
page 25.-V. 89, p. 285.
Central Vermont Ry.-Report.-For year ending June 30:
Fiscal
Year1908-09
1907-08
-V. 88, p. 1252.
Other
Net (after
Gross
Earnings. Taxes,&c.) Income.
$22,980
$3,795,332 $693,164
13,840
700,380
3,725,286
Fixed
Charges.
$713,027
710,667
Balance,
Surplus.
$3,117
3,550
Chicago Milwaukee & St. Paul Ry.-Application to ListSale of Debentures.-The company has applied to the New
York Stock Exchange for authority to list the $50,000,000
25-year 4% debentures due July 1 1934. Of the bonds,
$25,000,000 were sold in June last to Kuhn, Loeb & Co. and
the National City Bank. The same interests,it is supposed,
have agreed to take the remaining $25,000,000 as required for construction of branches and feeders for the Pacific extension, $3,000,000 of the second $25,000,000
having thus far been delivered. Compare V. 88, p. 1559.
Cleveland (Electric) Ry.-Mayor Johnson Defeated.-Tom
L. Johnson, for four terms Mayor of Cleveland, was defeated
for re-election on Tuesday by Herman C. Baehr, Republican
County Recorder. As the new City Council is also Republican an early settlement of the street railway dispute begun
about 8 years ago is predicted. The "Electric Railway"
section of Oct. 16 contained an editorial article on the
traction situation in Cleveland.-V. 89, p. 918, 778.
Cleveland Valley & Terminal RR.-Report.-For year ending June 30:
1223
the New York Central Lines. The Pennsylvania's route is 818 miles:
latt by the Reading Lehigh Valley and Grand Trunk 953 miles, by the
baitimore & Ohio 956 miles and by the former Reading-New York Central
route 1,025 miles. The Franklin & Clearfield has been built to take care
of passenger as well as freight trafic, although the latter feature will be
the more Important.-V. 89. D. 287.
Louisville & Nashville RR.-Acquisition.-See Frankfort
& Cincinnati Ry. above.-V. 89, p. 1141, 919.
Mexican Southern Ry.-Leased.-The lease of the road to
the Interoceanic Railway of Mexico has been consummated
and the property will be turned over on Jan. 1 for operation
to the National Railways of Mexico, which controls the Interoceanic. The last-named company under the terms of
the lease guarantees 4% dividends on the .E685,045 debentures and dividends on the £1,000,000 common stock. Compare V. 89, p. 287.
National Railways of Mexico.-Acquisition.-See Mexican
Southern Ry. above.-V. 89, P. 993.
New Orleans & Northeastern RR.-Report.-For year
ending June 30:
Dividends Balance,
Total
Fiscal
Operating Net (aft. Other
Burp.
Paid.
inc. Deducrns.
Year- Revenues, taxes).
1908-09 ___$3,035,088 $843,164 $86,651 $599,748 (5%)$300,000 00,066
5,640
1907-08 _ _ 2,883,656 657,188 142,761 554,309 (4%) 240,000
Deductions 89 above include $122,687 for additions and betterments in
1908-09, against $80,267 in 1907-08.-V. 89, D. 779.
New York Central & Hudson River RR.-New Stock Issue
Proposed.-Application was made on Nov. 3 to the Public
Service Commission, Second District, for authority to issue
$44,658,800 (25%) new stock, increasing the amount outstanding from $178,632,000 to $223,390,000. ,It is generally
believed that the new stock will be offered pro rata to
shareholders of record at par.
With the proceeds it is proposed to redeem the three-year
5% gold notes, amounting to $25,000,000, which become
due on Feb. 11910, the balance will be used for the improvements and additions which have been or are now being made,
including, it is stated, $8,000,000 for equipment, curve
elimination, signal improvement and grade revision on the
lines of the system east of Buffalo; $6,000,000 for electrifying
the Harlem Division to North White Plains, four-tracking
the Hudson River Division between New York and Albany
Balance,
Fixed
Other
(after
Net
Operating
Fiscal
between Highbridge and Croton
Charges. Surplus. and electrifying the line
Income.
Taxes).
Revenue.
Year$66,900 and for two-tracking the Rome •Watertown & Ogdensburg
$31,702 $245,237
_81,056,488 $280,435
1908-09
20,012
245,431
32,191
233,252
1,083,528
1907-08
and Pennsylvania divisions; $1,000,000 for additions to
-V. 87, p. 1297.
shops and the remainder toward completing the improve&
Louisville
Ry.-Sale.-The
Frankfort & Cincinnati
ments on the Grand Central Station in this city.
Nashville, having purchased the road, took possession on
The foregoing, it is stated, takes no account of the $25,000,000 of new
eenlaelto
r
wli
ru
cieNribyYomrekaCnesnotrfaal
'
'
en
ha
orfitn
ydile
re
ea
m
lvird
tg
nu
isretcifo
4%
vchuilcmit
N
e
bonds,
mortgage
first
the
$160,000
Oct. 28, assuming
an equipment
to
Frankfort
from
extends
line
The
due Jan. 1 1923.
similar to that created in 1907 (V. 86, p. 168).
A schedule submitted to tile Commission shows that the New York
Paris, Ky.-V. 73, p. 391.
Central proposes to spend between Sept. 1 1909 and Dec. 31 1910 for new
the following amounts: locomotives, $1,763,750; passenger
equipment
shareholders
ortg
RR..-The
M
age
Western
Gulf Texas &
equipment, $1,863,900; freight equipment, $7,980,400, and marine equipat a meeting in Dallas on Oct. 20 authorized the making of a ment, $439,500. Expenditures for construction and improvement chargeable to capital subsequent to Sept. 1 1909, it is estimated, will aggregate
$10,000,000 mortgage. A press report says:
$13,920,400 in connection with the electrification
$29,165,100, including
The officials will make application in a short time to the Texas Railroad of the lines and station improvements in New York City and vicinity.
Commission to allow bonds issued on 60 miles of line; 40 miles is completed -V. 89, p. 994. 411.
applithe
time
the
by
and
Olney
and
Jacksboro
between
and in operation
cation Is ready to submit to the Commission 20 miles of additional line
New Route.-See Lake Shore & Michigan Southern Ry.;also
will be ready. The road is now being extended westward from Olney
above.-V.89, p.994,
to Seymour. At the present time the Gulf Texas & Western has no out- Buffalo Rochester & Pittsburgh Ry.
standing bonds, the cost of construction being advanced by stockholders. 411.
The ultimate plan is to extoad the line from Jacksboro through Dallas
New York Central Lines.-Rolling Stock Ordered.-The
or Fort Worth, Tyler, &c., to the Sabine River. Westward the line will
be built to connect with the Kansas City Mexico & Orient. When com- new rolling stock recently ordered is to be distributed as
pleted the line will be about 500 miles in length. Compare V. 89, p. 993.
follows:
Halifax (Nova Scotia) Electric Tramway Co., Ltd.-Divi4% has been dedend Increased.-A quarterly dividend of 13
clared on the $1,400,000 capital stock, payable Jan. 1, comparing with 13/2% paid quarterly for many years to Oct. 1909
inclusive.
International & Great Northern RR.-First Mortgage Coupons Paid.-Judge McCormick of the United States Circuit
Court at Dallas, Tex., on Oct. 30 authorized Receiver Freeman to pay from current earnings the coupons due Nov. 1
on the $11,291,000 first mortgage bonds, aggregating $338,730.-V 87, p. 1238.
Interoceanic Ry. of Mexico.-Acquisition.-See Mexican
Southern Ry. below.-V. 89, p. 225.
Jamestown .Franklin & Clearfield RR.-New Through
Route-Trackage Rights.-See Buffalo Rochester & Pittsburgh Ry. above and Lake Shore & Michigan Southern Ry.
below.-V. 89, p. 593, 528.
Kanawha & Michigan Ry.-Second Mortgage Bonds Sold.Moffat & White and Lee Higginson & Co. have purchased the
entire authorized issue of $2,500,000 second mortgage 5%
bonds dated July 1 1907 and due July 1 1927.-V. 89, p. 718,
411
Lake Shore & Michigan Southern Ry.-Trackage Agreement-New Through Route.-Under "Buffalo Rochester &
Pittsburgh Ry." will be found the particulars regarding the
trackage agreement, which has enabled the company to
establish the new through route described in the following
authorized statement:
•
N.Y. Lake Mich. C.C.C. Pitts. C.!. Ind. H. RutCent. Shore. Cent. deSt.L. & L.B. & S. Belt. land. Total.
325
6
4
20
3
45
46
100
101
Engines
2
__197
5
30
8
66
Cars, pass. serv. 86
4()El 17,850
5,650 5.500 2,300 1,500 2,500
Freight cars_
-V. 89, p. 1142.
With the opening of the Jamestown Franklin & Clearfield RR.Sept. 26,
the New York Central lines secured a shorter route for freight transportation
between the Lakes and tile seaboard and between Lake Erie and Philadelphia. Instead of being routed from the main line of the Lake Shore via
Buffalo to Lyons, N. Y., connecting there with the Pennsylvania division,
which connects with the Reading east-bound trains, under the new arrangement leave the Lake Shore at Ashtabula, 0., proceed over the Jamestown
Franklin & Clearfield to Clearfield, thence over the Pennsylvania Beech
Creek division of the New York Central to Newberry Junction, near Williamsport, and from there over the Reading to Philadelphia.
The distance between Philadelphia and Chicago via the new route Is
about 845 miles, of which 202 is over the Reading and the remainder over
Shares Held by Navigation Company Not Voted.-An exchange says: "In answer to inquiries Mr. Mellen states:
New York New Haven & Hartford RR.-Official Statement
as to Right to Subscribe for New Stock.-In our advertising
columns will be found to-day the official announcement,
dated Oct. 30, offering: (a) To stockholders of record Nov.8
the right to subscribe, on or before Dec. 20 1909, at $125 a
share, for 25% new stock; and (b) to holders of the 3% convertible debenture certificates of the issue of Jan. 1 1906
and to holders of the 6% convertible debentures of the issue
of Jan. 15 1908 the same right of subscription as if they already held the stock to which they are hereafter to become
entitled by the terms of their debentures. Holders of ni%
convertible debenture certificates (convertible into stock
between Jan. 1 1911 and Jan. 11916) will have the right of
subscription as to one share of new stock for each $600 of the
principal amount of such debentures held by them respectively; holders of 6% convertible debentures (convertible
between Jan. 15 1923 and Jan. 15 1948) a right of subscription at the rate of one share of new stock for each $400 of the
principal amount of their convertible debentures. For further
particulars see the advertisement or V. 89, p. 1142.
A press despatch from New Haven on Nov. 4 said: "The $50,000,000
of cash to be derived from the new stock will be used to the amount of $20,000,000 to pay maturing indebtedness, $15,000,000 in various improvements
of the property and the balance for the Boston Railroad Holding Co.
(V. 89, p. 992) and the suburban extensions near New York in connection
with the Boston & Westchester, that company's plans involving considerable building into Westchester County."
"'The 218,781 shares of this company's stock in the treasury of the New
England Navigation Co. were not represented at the annual meeting on
Oct. 27 and were not voted on any questions considered at either of the
annual or special meetings of the stockholders. It is not the intention of
the New England Navigation Co. to sell any of its rights accruing in connection with the proposed issue of N. Y. N. H. & Hartford RR.stock, but
to subscribe and pay for the stock itself and bold the same in its treasury.'"
Compare V. 89, p. 1142.
1224
TH
CHRONICLE
[VOL. Lxxxix.
-- Norfolk & Southern Ry.—Sale Dec. 7.—The property is closure or sale of any kind, per plan in V. 89, P. 43.—V. 89,
advertised to be sold at Norfolk, Va., on Dec. 7 under fore- p. 1069, 994.
closure of the "first and refunding" mortgage and subject to
Second Avenue RR., New York.—First Mortgage Bonds
the several underlying bond issues.
Offered, Ranking Ahead of Receiver's Certificates.—The GuarNo minimum price is put upon the property to be sold, the Court having anty Trust Co., Redmond & Co. and Strong, Sturgis & Co.,
reserved full discretion to reject any bid which is inadequate. The pura limited amount of the $1,chaser must in addition to the purchase price take the property upon the all of New York, are offering
express condition that he will satisfy all claims having a prior lien to the 280,000 first (general) mortgage 5s dated 1885, which have
"first and refunding" mortgage, will discharge all receiver's debts, Includ- been extended for one year pending reorganization. These
ing the $1,000,000 receiver's certificates, and the costs of foreclosure, &c.—
bonds are an absolute first mortgage on the property, and
V. 89, p. 1142, 994.
Old Colony RR.—Option to Subscribe.—Shareholders of they rank ahead of the $500,000 receiver's certificates aurecord Nov. 4 are offered the right to subscribe at $195 a thorized last September (notwithstanding statements to
share until and including Nov. 20, to the extent of one new the contrary previously made), the order of Court explicitly
share in respect of each 20 shares held by them respectively, preserving to said bonds the priority of their lien.—V. 89,
for the 9,850 shares of new stock which were authorized p. 919, 848.
last week by the Massachusetts Railroad Commission.
Southwestern Traction Co., London, Ont.—Sold.—At
Subscriptions are payable in full on or before Dec. 18 and master's sale in London, Ont., on Oct. 20, the company's
the new certificates, entitled to dividends accruing from property including the trolley line between London and
Jan. 1 1910, will be issued in exchange for receipts at any Lake Erie at Port Stanley, was bid in by J. E. McDougall and
time after Jan. 10 1910.—V. 89, p. 1142.
T. H. Purdom,representing a syndicate of London, Toronto
Omaha & Council Bluffs Ry. & Bridge Co.—Bonds Of- and Hamilton capitalists. The purchase price was $455,000
fered.—Redmond & Co., New York and Philadelphia, hav- in cash and the assumption of $80,000 indebtedness.
C. C. Giles, of Montreal, the next highest bidder, offered $450,000 on
ing already sold the greater part of their block of $1,500,000
behalf of the Royal Securities Corporation, representing a majority of the
first consol. 5s dated 1902 and due Jan. 11928, are offering $717,500
outstanding bonds, including $445,000 owned by the Electrical
by advertisement on another page the unsold balance at Securities Trust, Ltd. The London Street Railway Co. of which H. A.
Is President, bid $350,000. The result of the sale
Cleveland,
Everett.
(total
bonds
interest,
authorThese
5%.
yielding
100 and
apparently disposes of the reorganization plan referred to in V. 89, p. 995.
ized issue $2,000,000, outstanding $1,616,000) will after
&
Toledo
Indiana Railway.—Reorganization Plan.—The
Jan. 1 1910 be a first mortgage on the entire property of the first mortgage bondholders'
committee,
of R. R.
company, the net earnings of which are nearly three times Govin, S. C. Schenck, Spencer D. Carr,consisting
B. L. Allen and
•the total annual interest charges—after Jan. 1 1910 $80,800 Thos. H. Tracy, appointed under an agreement dated
or 5% on $1,616,000.
Feb. 9 1909, announce by advertisement in a Toledo paper,
Abstract of Letter from G. W. Wattles, President of Omaha & Council
under date of Oct. 20 1909, the following plan of reorganizaBluffs Street Railway Co. (Lessee).
On Jan. 1 1910, on payment of maturing obligations which these bonds tion which they propose to carry out:
will take up, the first consolidated mortgage 5s will be secured by a direct
1. The committee shall cause to be bid, for the property upon the sale
the entire street railway system of Council Bluffs,
about
first mortgage on
30 miles of railway, together with a large toll bridge over the Missouri
River to Omaha, valued at over $500,000, power house, a large amusefavorable
and
Manawa,
until
franchises
running
1946.
ment park at Lake
The net earnings of the property directly covered have for the past five
years never been less than 2 4 times the Interest charges. Approximately
depreciation.
10% of the gross receipts Is applied to
The company's property Is leased to the Omaha & Council Bluffs Street
By. Co.. which is paying dividends on Its own stock at the rate of 5% on
;4,000,000 pref: and 4% on $5,000.000 common and under the lease assumes the interest on these bon.ls, pays all taxes, &c., and a rental equivalent to 4% dividends on $1,500,000 preferred stock of the lessor company.
The total authorized issue under the mortgage Is $2,000,000, of which
$1,500,000 are issued, $116,000 are In the treasury of the Omaha & Council
Bluffs Street fly. Co. and the remaining $384,000 are only available for
future extensions and betterments to the property under the restrictions
of the mortgage.
It is estimated that the Omaha & Council Bluffs Street By. system now
serves a population of approximately 250,000.—V. 77, p. 37.
Pennsylvania RR.—Option to Subscribe for 25% New
Stock.—The stockholders are notified by advertisement on
another page under date of Philadelphia, Pa., Nov. 11909,
that, for the purpose of providing the funds necessary to
meet maturing obligations and for other corporate purposes,
an increase of the capital stock equal to 25% of the aggregate
amount thereof which shall be outstanding at the close of
business on Nov. 15 1909 has been authorized, and is offered
for subscription at par, $50 a share, to stockholders of
record Nov. 15 to the extent of 25% of their respective
holdings. The subscriptions must be made on the company's warrants at the office of Treasurer James F. Fahnestock, Philadelphia, between Dec. 8 and Dec. 18 inclusive,
and are payable either in full within said period when
making the subscription, or 30% or $15 per share, between
Dec. 8 and Dec. 18 1909, inclusive, 30% , or $15 per share,
between Feb. 23 and March 11910, inclusive, and 40%, or
$20 per share, between May 26 and June 1 1910, inclusive.
Upon payment of the last installment there will be issued
a check for interest at the rate of 6% per annum on the first
installment from Dec. 18 1909 and on the second installment
from March 11910, all up to June 11910, which will amount
to $0.63 per share. To subscribers making payment in full
between Dec. 8 and Dec. 18 1909, inclusive, and to those
making payment of the last installment between May 26
and June 1 1910, inclusive, full-paid negotiable stock
receipts will be issued for whole shares, exchangeable, ten
days after payment, for stock certificates carrying all dividends thereafter declared.
This allotment will raise about $80,000,000, sufficient to
meet the $60,000,000 of 5% notes due, March 15 1910 and
$20,000,000 general mortgage6% bonds maturing July 11910.
All inprovements to the property, including the
completion of the New York tunnel extension and any
new equipment that the company may require during 1910,
it is announced, will be paid out of the surplus income and
funds now in treasury of the company.
Dividends to Be Quarterly.—The company, it is learned,
has decided to pay its dividends in future quarterly, instead
of semi-annually.—V. 89, p. 919, 666.
Phillipsburg & Susquehanna RR.—Debt Increase.—This
Pennsylvania corporation has filed a certificate of increase
of debt from nothing to $75,000.
St. Louis & San Francisco RR.—Listed in Paris.—Cable
advices received from Paris are to the effect that the general
lien 15-20-year 5% gold bonds (French series) have been
listed on the Coulisse of the French Bourse. These are the
bonds sold some tune ago to Paris bankers by Speyer & Co.
V. 89, p. 1140, 1060.
Seaboard Air Line Ry.—End of Receivership.—At 12.01
Friday morning control of the road was returned to the gtockholders, the company having been reorganized without fore-
thereof under the foreclosure proceedings now pending in the Court of
Common Pleas, of Lucas County, Ohio, such an amount as the committee
may determine.
2. In the event said property is purchased by or for the committee, the
committee shall exercise, under this plan of reorganization, to the extent
that the committee may deem best, the authority and powers as provided
in all of the items of prargraphs II, III, IV and V of said agreement dated
Feb. 9 1909.—V. 89, p. 1142.
United Railways Co., St. Louis.—Voting Trust Expires.—
The voting trust for the $24,913,800 coinmon stock, of which
the North American Co. is supposed to own some $18,000,000, expired by limitation on Oct. 31.—V. 89, p. 995.
Vicksburg Shreveport & Pacific Ry.—Report.—For year
ending June 30:
Total Prettify. Balance,
Operating Net (after Other
Fiscal
Year—
Revenues. tlxes). Income. Defluc'ns. (5%). Surplus.
$2,199
$1,367,111 $257,592 $69,284 $217,537 $107,140
1908-09
13,261
05,805 244,011
1,427,694 161,467
1907-08
Deductions as above include $35,969 for additions and betterments In
1908-09, against $61,590 In 1907-08.—V. 89, p. 780.
Virginian Railway.—New President, &c.—Urban H.
Broughton, son-in-law of the late Henry H. Rogers, has
been elected President to succeed Mr. Rogers. Mr. Broughton is Treasurer, manager and director of the United Metals
Selling Co. The board has also elected as directors Edwin
S. Marston, President of the Farmers' Loan & Trust Co. and
Walter P. Winsor, succeeding Mr. Rogers and F. C. Uhlman.
—V. 89, p. 287.
Wabash RR.—Bonds Called.—Fifty seven ($57,000) De-,
troit & Chicago extension first mortgage bonds dated July 1
1891 have been drawn for redemption on Jan. 1 1910 at 110
at the office of the Central Trust Co., New York, trustee.—
V. 89, p. 995, 920.
Washington Baltimore & Annapolis Electric Ry.—
Statement as to Receivership.—President George T. Bishop,
now one of the receivers of the company, made on Oct. 28
a statement in substance as follows:
The receivership was to-day decided to be necessary for the protection
of the security holders, upon it becoming apparent that all of the reconstruction changes, made necessary by the adoption of the direct current
power system and the requirement of new cars suitable for use in the streets
of Washington, would not be completed so as to enable the company to
operate its cars in the city of Washington by Nov. 15, as had been expected.
It now seems probable that all of said changes cannot be completed before
Feb. 151910.
A considerable portion of the cost of such changes has necessarily been
paid from current earnings, necessitating a delay In the payment of pressing
accounts which would otherwise have been made from the earnings. It
has been believed, up to this time, that the decreased operating expenses
and increased earnings which will result from the changes would have
furnished sufficient funds to provide for the company's urgent and unusual
requirements. Under the plan decided upon the pressing accounts can
be taken care of from earnings which would not be sufficient to pay the
May 1 1009 interest on first and second mortgage bonds now in default,
and also, within another six months, the interest on the same bonds which
will be due Nov. 1 1909,a total of $200,000. Under the receivership,
which would not be of long duration, all the reconstruction work can be
continued and the cost thereof which has not already been paid can be
provided for. A plan for the funding of the accrued and accruing Interest
and other Indebtedness will be soon submitted, but it is our belief that no
drastic action will be necessary.
The company has no questions of expiring franchises to bother it, Its
rights are secure, its railway is in first-class condition,and within a short
time it will begin operating cars from the business center of Baltimore
to the business center of Washington. Without giving a detailed statement
of the company's obligations, the cause of the present condition can be
summed up by stating that the amount of the company's present liabilities.
for which it has not been able to issue securities, Is made up almost entirely
of the amount which it has been required to put into Its construction
account, adding thereto the deficit caused by the unusually large percentage
of operating expenses under the alternating current system.—V.89. P• 1142.
Western Allegheny RR.—New Stock.—This company,
controlled by the Great Lakes Coal Co.(V. 80, p. 2347, 715),
has increased its stock from $1,450,000 to $1,600,000.—V.87,
p. 416.
Western Pacific Ry.—Completion of Line.—The last spike
on this road extending from Salt Lake City, Utah, to Oakland, Cal., opposite San Francisco, 927 miles, was driven on
Nov. 1. Compare V. 89, p. 995.—V. 89, p. 1143, 995.
Nov. 6 1909.1
THE CHRONICLE
1225
INDUSTRIAL, GAS AND MISCELLANEOUS.
Allis-Chalmers Co.-New Director.-Stephen S. Palmer has
been elected a director to succeed George Bullock.-V. 89,
p. 990.
• Amalgamated Asbestos Corporation, Ltd., Montreal.Listing.-Application has been made to have the preferred
Exand common shares listed on the Philadelphia Stock
change. The shares are now listed on the Stock Exchanges
of Montreal and Toronto, in Canada, as follows: Common,
$8,124,500; preferred, $1,875,000.
Earnings.-For four months ended Sept. 30 1909:
Corn Products Refining Co., New York.-See National
Starch Co. below.-V. 89, p. 780, 106.
Ores Carpet Co., New York.-Second Extra Dividend in
1909.-The directors declared on Nov. 3 1909 the regular
semi-annual dividend of 2% (No. 3) on the $3,000,000
of 1%, both paycapital stock and an extra dividend of
able Dec. 15 1909 on stock of record Nov. 30 1909. Dividend No. 1, 2%, was paid Dec. 15 1908, and No. 2, 2%
and M% extra, June 15 1909. Compare V. 88, p. 1200, 1553.
Annual Dividend Record (Per Cent).
'98. '99. '00. '01. '02. '03. '04. '05. '06. '07. '08. '09,
5
3
x
2
1
1
2 •6 '4
4 3
3
Common stock
Preferred stock_ __ _ 6% yearly to date.
• Includes 2% paid in the following June. x From the earnings of
1906-07 4% was paid March 4 1908.-V. 87, p. 1481.
02
8.
6,5
29
1908.
$41
.
,4
9 19
$1510
08 751Net
5.,522 $1,31792,7.
79
90
$11,4
Gross
• The fixed charges for the entire year 1908 amounted to $208,050.V. 89, p. 780, 472.
Cuyahoga Telephone Co.-Change in Control.-J. S.
Brailey Jr. of Toledo acknowledges that he has succeeded
in obtaining control of this company and the United States
Telephone Co., but for what interests and whether the
and Toledo companies are included in the deal
Interest on the $7,500,000 first mortgage 5% sinking fund Indianapolis
remains doubtful.
bonds (which will probably be offered for public subscripA Cleveland paper states that the actual prices paid to the Everett-Moore
tion both here and abroad early in 1910) amounts for four syndicate
for their holdings was $25 for the common and $40 for the
preferred stock of the Cuyahoga Telephone Co., par $50, and $40 for the
months to $125,000.
divipreferred
the
and
$80 for the preferred stock of the United States Telephone
common
-As
1910.
1
April
Dividends to Begin
Co., par $100. "Cleveland Finance" in its issue of Oct. 30 inclines to the
dends of 7% per annum become cumulative Jan. 1 1910, and belief that the Postal-Telegraph (Mackay Companies) or the Bell interests
back of the purchasers. See also Continental Telephone & Telegraph
as the earnings warrant the payment of same from that date, are
Co. above.-V. 89, p. 1143, 222.
the directors decided to announce at this time that the initial
4% quarterly,
dividend on the preferred stock would be 13
Diamond Rubber Co., Akron, Ohio.-Dividends.-Besides
payable April 11910.
increasing the capital stock to $10,000,000, in the form of a
American Cotton Oil Co.-Annual Dividend of 5% on stock dividend of 100%, the company has paid the regular
quarterly dividend on $5,000,000 and an extra 234%
Common Stock.-The directors on Nov. 4 1909 declared a 2
semi-annual dividend of 3% upon the preferred stock on $5,000,000, to stockholders of record on Oct. 15.
The company. In addition to manufacturing automobile tires, makes
($10,198,600) and a dividend of 5% upon the common stock solid
tires for inotor trucks and carrtages, b.cycle tires, trechanical rubber
($20,237,100), both payable Dec. 1 1909 at the banking goods, hard rubber, insulated wire and will make rubber boots and shoes.
York,
New
St.,
59
Cedar
Co.,
&
Lanier
the
list of directors published last week the name of 0. S. Hart replaces
In
Winslow,
house of
that of E. H. Hardy.-V. 89, p. 1070.
to holders of record Nov. 11.
board
Eastern Steamship Co., Boston.-Earnings.-For the
The directors also adopted a resolution recommending that the
be empowered to declare dividends on the common from time to time as
Sept. 30:
may seem advisable. This is taken to foreshadow semi-annual declarations 9 months ending
$520,26710th.profits,&c. (partly est.) $23,403
Gross earnings
173,006 Tot. net app. to int. on bds_ 196,309
Net, after taxes
30 1909, $3,528,895.
Sept.
Unfilled orders on hand
Bethlehem Steel Corporation.-Guaranteed Note Issue.The shareholders yesterday voted to authorize the pledge
of the whole or any part of the company's holdings of the
capital stock of subsidiary companies as security for the
guaranty by the Corporation of the principal and interest of
a new $7,500,000 6% 5-year sinking fund gold note issue of
the Bethlehem Steel Co. The proceeds of these notes will
be used for additions and improvements and to retire the
Bethlehem Steel Co.'s existing issue of $2,500,000 6% gold
notes. Compare Bethlehem Steel Co. item, V. 89, p. 995.
We have confirmed the statement that the Bethlehem Steel Co. will pledge
as security for the notes one-half of its $600,000 interest in the Juragua Iron
Co. (a nominal valuation), and that the Bethlehem Steel Corp„ to secure
its guaranty, is to pledge the entire outstanding stock of the following
companies, aside from directors'.shares: namely: 299,955 shares Bethlehem
&
Steel Co., 19,990 shares of Union Iron Works, 14,079 shares Harlan
Hollingsworth Corporation, 7,490 shares Samuel L. Moore ec Son CorporaCo.
tion, 2,495 shares of Bethlehem Iron Mines
rail
President Schwab recently said: "The success of our open-hearth
beyond
mill and the structural mill for special Bethlehem shapes is assured
for
output,
their
doubling
doubt. We have now decided upon a plan for
providing for pig iron for increased capacity and at the same time secute
after
only
decision
our
have
reached
We
operations.
economical
more
mature consideration of all the conditions; $5,000,000 is the amount required." At the fneeting this week Mr. Schwab said there was no basis for
expecting a dividend on the common stock next year.
The Bethlehem Iron Mines Co., a subsidiary of the Bethlehem Steel Corporation, recently purchased 51% of the $250,000 stock of the Cheever Iron
Ore Co. of Port Henry, N. Y. Witherbee, Sherman & Co. own the remaining stock, and will manage the mining operations. The Bethlehem Steel
Co. will take the entire output.-V.89, p. 289.
Central Home Telephone Co. (of Delaware), Louisville,
Ky.-Foreclosure.-Judge A. M. J. Cochran in the U. S.
Court at Covington, Ky., on Oct. 27 ordered the property to
be sold under foreclosure of the $5,000,000 mortgage, Columbia Trust Co. of Louisville, trustee, upon application by
Judge John M. Lassing of the Kentucky Court of Appeals,
owner of $67,500 bonds, part of an issue interest on which is
in default.
Sale of Bonds of Allied Enterprise.-See Independent LongDistance Telephone & Telegraph Co. below.-V. 87, p. 99,
168, 547, 616, 1090; V. 84, p. 223.
Computing Scale Co. of America, Chicago.-Annual Dividend Continued at 6%. A dividend of 6% has been declared
on the $1,500,000 stock, payable quarterly, 134% for the
period beginning Nov. 1, the first installment due Feb. 11910.
the
The books close on the 20th of the month preceding the payment of
at 47
dividend. Dividend checks are mailed from the company's office
ago.
a
year
declared
was
dividend
Ill.
The
same
of
Chicago,
rate
State St..
-V. 87, p. 1239.
Consolidated Gas & Light Co., Tiffin, 0.-Sold.-At
Master's sale held in Tiffin on Oct. 20, under order of the
United States Court, the gas plant was bid in, subject to the
bonded debt, by the National Equipment & Supply Co. of
Montpelier, Ind., for $9,500.-V. 88, p. 750.
Continental Telephone & Telegraph Co.-New Holding
Company.-This company was incorporated in New Jersey
on Oct. 9 with $50,000,000 of authorized stock ($25,000,000
to be 6% non-cumulative and participating preferred) as
successor, it is stated, of the "National long distance telephone syndicate", headed by John A. Howard,Wheeling,W.
Va., and Max Koehler and Herman C. Stifel, St. Louis.
Control, It is stated, has been acquired thus far of the Independent Union
have
Telephone Co., Albany. N. Y.(whose first mortgage bonds dated 1901
been called for payment Jan. 1 1910 at the Knickerbocker Trust Co., N Y.),
and of the Inter-State Telephone ec Telegraph Co. of New Jersey (V. 81.
p. 1177; V.83, p.439). It is thought by some that the Cuyahoga Telephone
Co. of Cleveland (which see above) and the U. S. Telephone Co. will also be
controlled.
Eastman Kodak Co., Rochester, N. Y.-Acquisition.This company has purchased the property of the Artura
Photo Paper Co. of Columbus, 0., at a price understood in
Columbus to be about $1,500,000.-V. 89, p. 1070.
Equitable Illuminating Gas Light Co. of Philadelphia.Output.-The statement of income from gas sales in the
city of Philadelphia during the quarter and nine months
ending Sept. 30, as filed with the city authorities, compares
as follows:
1907.
1908.
1909.
Cubic feet of Gas1,815,755,360 1,694,964,740 1,744,295,460
3 months
5,703,185,250
5,576,925,750
5,838,981,360
9 months
$5,552,254
$5,703,184
$5,838,981
9 months' gross revenue
$555,225
$794,664
Of which city receives
30 1909
Sept.
ending
months
3
e
$
during
for
The quantities of gas paid
and 1908, representing gas sold prior to 1908, on'which the former rate of
10% accrued to the city, were 881,460 and 2,926,510 cubic feet respectively, and for the 9 months, 3,789.60 and 1,216,270,000 respectively.
The new 15% rate applies on 1,814,873,900 and 1,692,038,230 cubic feet
sold during the 3 months ending Sept. 30 1909 and 1908 respectively, and
for the 9 months 5,859,773,710 and 4,486,915,240 respectively. Compare
V. 86. p. 1103: V. 89, p. 351.
Ineependent Brewing Co.-Report.-For year ending
Oct. 23:
Int.on Depre- Pref. divs.Com.dtv Balancefor
Na
Gross
Fiscal
Year
bonds. elation. (7%). (1%).
earns,
earns.
Year.
sur$100,970
1908-09_ __$2,778,604 $623,075 $275,558 $246,547
1907-08... 2.844,487 412,248 276,008 231,899 $315,000 $45,000 def455.659
No dividend has been paid on the preferred stock since August 1908.
See V. 87, p. 1360. Sales, 423,349 barrels in 1908-09, against 429,423 in
1907-08.-V. 89, p. 352, 106.
Independent Long Distance Telephone & Telegraph Co.,
Louisville, Ky.-Sale of Deposited Bonds.-The bondholders'
committee, composed of Judge John M. Lassing, Benjamin
C. Weaver Jr. and George Winslow, has arranged to sell
$520,000 of the $592,000 outstanding first mortgage bonds
to the Louisville Home Telephone Co. at a price variously
reported in Louisville at "close to $300,000" for the lot, and
also "equivalent to 70 cents on the dollar."
Foreclosure of Allied Property.-See Central Home Telephone Co. above.-V.87, p. 680.
Intercontinental Rubber Co., New York.-Consolidation.
-On Nov. 4 a certificate wits filed at Trenton, N. J., merging
with this company its controlled company, the Continental
Rubber Co., of whose $29,990,000 outstanding capital stock
all except $15,000 had been acquired, an offer of $100 Intercontinental stock for $200 Continental having been generally
accepted last spring.
The authorized capitalization of the Intercontinental, it is stated, remains $40,000,000 ($10,000,000 being 7% cumulative preferred and the
remainder common), of which $34,182,000 about $4,000,000 of this being
preferred and the remainder common. The preferred is said to have received an initial dividend of 3%% in October 1908, but we have not confirmed the statement. The directors of the Intercontinental are given as
Nelson B. Aldrich of Rhode Island, Edward B. Aldrich, Herman B.
Baruch, Henry A. Bingham, Daniel Guggenheim, S. R. Guggenheim, Paul
Morton, Allan A. Ryan and William Sproule. Compare V. 88, p. 161.
Iron Steamboat Co., New York.-First Dividend Since Reorganization.-The directors on Nov. 4 declared a dividend
of 5% on the capital stock (about $303,000), payable Nov. 15
to holders of record Nov. 13, being the first dividend since
the reorganization in 1902.-V. 87, p. 1603.
Jamaica (N. Y.) Water Supply Co.-Bonds Offered-Earnings.-Lawrence •Barnum & Co., New York, &c., are offering at par and interest the unsold portion of $200,000 5%first
mortgage unified gold bonds, par $1,000 (c*), dated 1904 and
due July 1 1954. A circular says in part:
1226
THE CHRONICLE
By virtue of the payment of a recording mortgage tax by the companybonds issued subsequent to July 1 1906 are exempt from all further taxa,
tion in the State of New York. The company's certificate in reference to the
payment of this tax is stamped on these bonds. Capital stock, $300,000;
5% bonds of 1898, $116,000; unified mortgage bonds (authorized, $1,000.000; reserved to retire former Issue. $116,000; reserved for extensions,
$140,000) issued, $744,000.
Earnings for Years ended April 30.
1909.
1907.
1908.
1906.
Gross earnings
$123,978 $119,921 $105,431
$93,084
Net earnings (after taxes)
$66,901
$68,766
$54,875
$57,169
Interest charges
35,817
35,522
34,029
32,010
Surplus
$31,084
$33,243
$20,845
$25,158
The controlling interest In the company has recently been purchased at
$150 per share by parties who have had long experience In the water works
business.
The plant consists of three standpipes, 23 acres of land, over 100 miles of
mains, two modern pumping stations, having a capacity of 4,000,000 and
10,000,000 gallons per diem respectively. Source of supply is driven wells.
The contract with the City of New York calls for a hydrant rental of $18
(for fire protection) and the income from this source is about $18,000 per
annum. The company has paid dividends on its stock for the past 10 years.
[Directors-Warren Leslie, Pres.; Cornelius J. Kelly, Vice-Pres.; Charles
J. Leslie, Sec'y.; Michael J. Drummond, Frederick G. Lee, George H.
Francoeur and Wm. H. Leslie. The Treasurer is Henry L. Norton.-Ed.]
Compare V. 87, p. 1240; V. 86, p. 983; V. 80, p. 733.
Lake Superior Corporation, Toronto.-Stock Transfer
Agency.-This company, whose executive offices are in
Toronto, Canada, announces the discontinuance of its transfer office in Philadelphia and the appointment, as transfer
agent for its stock of the New Jersey Corporation Guarantee
& Trust Co., Room 227, Land Title Bldg., Philadelphia, Pa.
-V. 89, p. 922, 916.
Landers,Frary & Clark, Cutlery and Hardware Mfrs., New
Britain, Conn.-New Stock.-This Connecticut corporation
has increased its capital stock from $1,250,000 to $1,500,000,
all of one class.
The new stock was offered to stockholders at par (125 a share) in proportion to their holdings, to provide additional capital for the development of
new lines of goods, with buildings and machinery necessary to that end.
The dividends paid in 1908 were 14%. There are no outstanding bonds.
Charles F. Smith is President and George M. Landers Secretary and Treasurer.-V. 84, p. 807.
Long-Bell Lumber Co., Kansas City, Mo.-Bonds Sold to
Francis, Bro. & Co., St. Louis.-Francis, Bro. & Co., St.
Louis, announce that a syndicate headed by themselves
has purchased $2,821,000 'first and refunding mortgage"
sinking fund 6% gold bonds, being the unsold portion of an
authorized issue of $9,000,000, dated May 1 1907 and
maturing serially at the rate of $300,000 each six months.
Of the original amount there have matured and been paid
$1,400,000, leaving in force $7,600,000, of which amount
$900,000 are reserved in the hands of the trustee with which
to retire the underlying securities; the remaining portion of
the issue, $6,700,000, now being outstanding.
This issue is secured by an absolute first mortgage, subject only to
$864,000 underlying securities on over 380,000 acres of timber lands
located in the Parishes of Calcasieu, Rapides and Sabine, Louisiana; and the
counties of San Augustine, Angelina and Sabine, Texas, upon which it is
estimated there is still uncut over 4,000,000,000 feet of merchantable long
and short-leaf yellow pine timber. Sinking fund for bonds of $3 50 per
1,000 feet of timber cut. The proceeds from the above sale will be devoted
to the retirement of the floating indebtedness of the company. Compare
V. 84, p. 1431.
Louisville (Ky.) Home Telephone Co.-Acquisition.-See
Independent Long Distance Telephone & Telegraph Co.
above.-V. 89, p. 47.
National Starch Co.-Default.-This company, which defaulted on the July 1909 coupons of its sinking fund gold debenture 5s (total issued, $3,608,000, of which $50,000 owned
by Corn Products Refining Co.),also failed to meet the November interest on the $2,843,000 first 6s of the National
Starch Mfg. Co., all except $522,000 of which are held by
the Corn Products Refining Co. A refunding plan is understood to be in contemplation. Compare V. 89, p. 107;
V. 88, p. 1370.
New Long Distance Telephone Co. of Indiana.-Listed in
St. Louis.-The St. Louis Stock Exchange has listed $1,689,000 5% bonds; authorized issue, $5,000,000. [Not long
ago $779,000 bonds were said to have been issued, including $541,500 in the treasury.] Compare Cuyahoga
Telephone Co. above.-V.81, p. 977.
Northwestern Iron Co., Milwaukee, Wis.-New Stock.This company has increased its capital stock from $1,000,000
to $2,000,000, to provide for improvements in progress and
projected.-V.87, p. 100.
Oklahoma Gas & Electric Co., Oklahoma City.-Bonds.-N. W. Harris & Co., New York and Boston and The Harris
Trust & Savings Bank, Chicago have completed negotiations
for the purchase of $1,600,000 first mortgage 5% bonds of the
company from the company's managers, H. M. Byllesby &
Co., Chicago. These bonds probably will be brought out on
the Chicago market in the near future.
The bonds purchased will, when issued, be an absolutely first mortgage,
being part of a total authorized issue of $5,000,000, dated Oct. 1 1909 and
due Oct. 1 1929, but subject to prior redemption at 102;4 and interest.
Interest payable A. & 0. at Harris Trust & Savings Bank, Chicago, trustee.
Par, $1.,000. Compare V.88, p. 1563; V. 81, p. 215, 617, 1178.
Passaic Steel Co., Paterson, N. J.-Sale Postponed.-The
sale has been postponed from Nov. 12 to Nov. 19 in order
to comply with certain legal requirements.-V.89, p. 924.
Pennsylvania Salt Manufacturing Co. (Manufacturing
Chemists and Importers of Kryolith), Philadelphia.-New
Stock.-The company by circular dated Nov. 1 offers to
shareholders of record Nov. 8 the opportunity to subscribe
on or before Dec. 15 for 5% of their holdings in new stock
at $100 per share (par $50), in all 4,750 shares.
Subscriptions are payable on or before Dec. 15 1909 and certificates o
stock entitled to the April 1910 dividend will be delivered as soon after tha
[VOL. Lxxxxx.
date as possible. In January 1907 the shareholders were offered the right
to subscribe for 20,000 shares at $100 per share; the shares now offered are
part of the 5,000 shares (out of the 20,000) then not taken. The companej
was incorporated in 1850.-V. 86, p. 288.
Pittsburgh:Brewing Co.-Report.-Year ending Oct. 23:
Fiscal
Gross
Net (atf. tax. Bond
Div. on
Surplus
YearEarnings. (Ye Deprec'n. Interest.
Stock.
for Year.
1908-09
$5,324,175 $1,104,247 $379,140 $725,107
None.
1907-08
5,575,649
1,104,249
379,140
725,110
None.
Dividends include: Common (5%), $298,107; preferred (7%), $427,000.
Sales in year 1908-09 aggregated 721,153 barrels, against 761,807 in 1907-08.
New Director.-Fred. Gwinner Jr. has been elected a director to succeed Fred. Gwinner, deceased.-V. 87, p. 1418.
Stanley Rule & Level Co., New Britain, Oonn.-Proposed
100% Stock Dividend.-A press dispatch from New Britain
on Oct 29 said:
The company is planning to increase its capital stock from $1,000,000 to
$2,000,000, by capitalizing 11,000,000 of the accumulated surplus. A special meeting of the stockholders has been called to act upon the proposal.
The stock, which pays 12% dividend, is quoted around $275 bid.-V.82,
p. 575
-Announcement is made of the retirement from the advertising firm of Albert Frank & Co. Inc., of 25 Broad St.,
of Collin Armstrong, formerly a director and Treasurer of
the corporation. Mr. Armstrong has transferred his entire
interest to James Rascovar, President, who will hereafter be
the sole active manager of its financial and business affairs.
The firm of Albert Frank & Co. has for years been one of the
most prominent in the line of financial, steamship and railroad advertising. Mr. Rascovar became a partner in the
concern years ago, when the senior member was his fatherin-law, Albert Frank. Since the death of Mr. Frank, in
1901, Mr. Rascovar has had the active charge of the firm's
affairs. He is widely known throughout Wall Street, having spent his business life there since early boyhood. Mr.
Rascovar established the "New York News Bureau", of
which organization he has been President from the start.
Subsequently he helped to found the Hamilton Press printing establishment, of which he is Vice-President. For several years he has been a director of the United Press Association.
-The Collin Armstrong Advertising Co. has been formed
by men of long experience and of acknowledged ability in
the advertising business. Its President, Collin Armstrong,
was for nearly twenty-five years financial editor of 'The
Sun," He was the pioneer of college men in the advertising business, having been engaged in it for thirty years, and
is widely conceded to be an expert in the line of financial
publicity. Mr. Armstrong's associates are Harrry L. Cohen
and Charles Hartner, who have worked with him for twenty
years attaining positions of responsibility. Both are thoroughly familiar with the details and intricacies of the advertising business, and fitted by experience to undertake
intelligently any advertising proposition that may be presented.
-Arthur Van Rensselaer Thompson and George W.
Singleton have this week formed a partnership under the
name of Thompson-Singleton with offices in the Trust
Company of America Building, 37 Wall Street. The new
firm will deal in government, state, municipal and railroad
securities in all markets. Mr. Singleton was formerly
identified with William A. Read & Co. and Ladenburg,
Thallman & Co. Mr. Thompson was previously connected
with the U. S. Mortgage & Trust Co. and W. R. Grace & Co.
-A copy of the "Weekly Bulletin" issued by the bond
department of the Fidelity Trust Co. of Newark, N. J.,
will be mailed to any reader upon request. The bond
department of this, the largest, trust company and financial
institution in New Jersey, makes a specialty of buying and
selling all the securities of the Public Service Corporation of
New Jersey.
-The new firm of Sutro & Kimbley, members of the New
York Stock Exchange, started business this week at 33
Wall Street. The concern will transact a general commission business in stocks bonds and investment securities.
Victor Sutro and Frank Ray Kimbley compose the partnership.
-Wm. R. Compton Company, the active and progressive
St. Louis bond house, has opened a branch office in Chicago
in the Home Insurance Buildin, 205 La Salle Street.
H. Spaulding Coffin, formerly with Mosely & Company,
note-brokers, is appointed Chicago manager.
-William W. Vernon has become associated with the
Chicago banking and bond house of Porter, Fishback &
Company as its Secretary. Mr. Vernon is favorably known
in business and financial circles, both East and West, having
been connected with several public utility corporations.
-E. Bunge of 20 Broad St., New York, has issued a circular dealing with the first and refunding mortgage 20-year
gold bonds of the Southern Iron & Steel Co., yielding over
8% at present price.
-Strong,Sturgis & Co.announce that Mr. Emory S. Lyon,
for many years associated with the firm, was on Nov. 1 admitted to partnership.
-Mr.Reginald W.Pressprich has been ad mitted to-general
partnership in the firm of Rhoades & Co., bankers, 45 Wall
Street.
1227
THE CHRONICLE
Nov. 6 1999.1
COTTON.
Tomintrcial Times.
Friday Night, November 5 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
COMMERCIAL EPITOME.
week ending this evening the total receipts have reached
1909.
5
Nov.
Night,
Friday
401,448 bales, against 420,071 bales last week and 450,899
There is a steady increase in trade, as has been the case bales the previous week, making the total receipts since
Sept. 1 1909 3,228,329 bales, against 3,079,595 bales
for some time past, and the impression grows that the for
the same period of 1908, showing an increase since
country is on the eve of a period of prosperity, of which Sept. 1 1909 of 148,734 bales.
herald.
the
as
acting
still
the iron and steel trade is
Receipts atStocks of Merchandise.
Nov. 1.
1909.
Oct. 1.
1908.
Nov. 1.
1908.
41,090
56,340
68,500
bags_
bags- 3,052,207 3,157,347 2,748,487
48,567
72,800
68,450
mats_
282,706
439,815
420,263
bags_
23,350
30,000
17,000
bags, &c_
15,400
18,000
17,500
No
76,673
65,223
112,522
bales_
2,482
6,500
7,685
bales_
362
850
1,400
.bales_
58,900
52,700
76,800
bbls_
Cocoa
Coffee, Brazil
Coffee, Java
Coffee, others
Sugar
Hides
Cotton
Manila hemp
Sisal hemp
Flour
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
Total.
17,999 23,407 34,393 17,952 15,766 21,052 130,569
5
5,848
____
---------------- 1,536 3,878
2,342
17,264 7,001 12,ii33 19;250 7,918 3,928 67,724
_
1,477 1,477
2,5i5
1,474 3,iiii6
75 1,182 1,172 12,611
2,;17
___ 18,493
8,200
____ 10,293
____
Pensacola
2,924 3,458
214
160
160
Jacksonville, ecc.
15,903 14,959 15,925 10,201 11,635 10,430 79,053
Savannah
8,900 8,900
_
Brunswick
2-,ii
3,ilia
2,662 12,320
731
-7
Charleston
1,5iii 1,5i6
_
100
_
100
Georgetown
- 9 2,823 2,444 3-,848 3,556 21,243
4,165 4, 2
Wilmington
5,825 5,293 5,195 3,861
6,416 4299 30,889
Norfolk
- 346
_- -- 346
_ --N'port News, ecc
33
____
New York
434
Boston
334
---------50
--------------__
491
3,581
4,072
Baltimore
Philadelphia_
Galveston
Port Arthur_ _ _ _
Corp.Christi,&c_
New Orleans
ert
ono
titi
iG
LARD on the spot has been somewhat easier of late,
owing to an increase in the offerings and lack of demand.
Changes in prices, however, have not been important.
Prime Western 12.75c., Middle Western 12.60c. and City Totals this week_ 68,813 69,038 75,655 57,573; 64,338 66,031:401,448
Refined lard has been dull but firm. Consteam 12
tinent 13.75c., South America 14c., Brazil in kegs 15c.
The following shows the week s total receipts, the total
Speculation in lard futures has been active. Prices have since Sept. 1 1909, and the stocks to-night, compared with
shown some irregularity at times, owing to realizing, but last year:
the undertone of the market has been firm, owing to the
Stock.
1908.
1909.
strength of the live-hog situation.
DAILY CLOSING PRICES
Sat.
November delivery_ _ _12.15
11.52%
January delivery
11.22%
May delivery
OF LARD FUTURES IN CHICAGO.
Fri.
Wed. Thurs.
Tues.
Mon.
12.70
12.32
12.10
12.023
11.70
11.75
11.47% 11.423i 11.55
11.35
11.10
11.22% 11.30
11.15
Receipts to
November 5.
This Since Sep This Since Sep
Week. 1 1909. Week. 1 1908.
130,569 1,054,769 207,545 1,212,273
Galveston
6,904
30,548
5,848
Port Arthur
15,036
15,302 2,882
Corp. Christi, &c. 3,878
New Orleans_ __ _ 67,724 387,840 98,459 466,467
7,104
1,477
Gulfport
12,611 102,478 17,005 120,514
Mobile
27,250
47,913 4,625
18,493
Pensacola
10,452
11,142 2,526
3,458
Jacksonville, &c_
79,053 846,344 73,501 669,910
Savannah
74,989
8,900 136,314 9,048
Brunswick
97,681
12,320 139,851 10,336
Charleston
164
____
454
100
Georgetown
21,243 203,736 21,155 186,906
Wilmington
30,889 226,515 30,915 169,115
Norfolk
1,992
102
2,109
346
N'port News, &c_
____
54
1,347
33
New York
2,591
434
1,166 1,004
Boston
16,603
5,138
13011
4,072
Baltimore
694
240
-351
_
---Philadelphia ----
1909.
1908.
198,800
182,000
179,293 225,225
PORK on the spot has been quiet and firm. Mess
272
$25 75(4,826; clear $24 50@$26 50; family $26 50. Beef
55,291
35,874
has been firm with trade quiet and offerings small; mess
$11@$11 75; packet $12 50@$13; family $13 75@$14 50;
229,477 161,255
9,516
20,627
extra India mess $20@$21. Cut meats have ruled firm with
30,390
40,589
s ®12 y
/
lc.;
trade fairly active. Pickled hams, regular, 123
2(0).14c. Tal25,352
26,579
2c.; pickled ribs 133/
pickled bellies 13@143/
32,142
36,925
low has been quiet and firm; City 654c. Stearines have
2c. Butter
75,253
110,048
been quiet; oleo 17@,171/0.; lard 13M@1.43/
5,094
2,124
2c.
has been quiet and steady; creamery extras 31@313/
6,981
11,705
3,010
6,357
Cheese has been quiet and firmer; State, f. c., Sept., fancy,
20.; Oct., best, 16c. Eggs have been quiet and higher;
163/
401,4483,228,329 484,481 3,079,595 890,599 819,580
Total
Western firsts 27@29c.
OIL.-Linseed has been firm with moderate sales. City,
In order that comparison may be made with other years,
raw, American seed, 63®64c.; boiled 64©65c.; Calcutta, we give below the totals at leading ports for six seasons:
raw, 75c. Cocoanut has been quiet and firmer; Cochin 93I @
1904.
1905.
1906.
Ceylon 83@83/sc. Olive has been quiet and steady Receipts at- 1909.
1907.
1908.
9
at 85c.@$1 40. Lard has been quiet and firm; prime $1 05 Galveston _ _ _ 130,569 -207,545 08,308 150,011 113,487 109,8504
1,499
2,064
1,269
®$1 08; No. 1 extra 59c.@62c. Cod has been firm with a Pt.Arthur,&c.
2,882
9,266
9,716
78,495 117,352
67,734
98,459
83,934 100,250
Orleans_
moderate demand; domestic 38®40c.; Newfoundland 40 New
12,982
15,410
13,092
17,005
16,211
12,611
Mobile
(4,42c.
68,652
73,501
77,989
74,685
78,661
79,053
Savannah _ _ _
10,876
3,976
4,376
4,692
9,048
8,900
Brunswick_ _ _
COFFEE on the spot has been firmer and more active. Charleston,
7,476
11,123
10,336
13,658
7,037
12,420
&c
1@83Ac., Santos No. 4 8%@87Ac. West India Wilmington_ _ 21,243 21,155 18,583 19,152 17,040 18,265
/
Rio No. 7 81
26,681
38,491
26,104
28,072
30,915
30,889
growths have been firm and fairly active. Fair to good Norfolk
438
874
487
1,847
102
346
N'port N., &c
4,696
/0. The speculation in future contracts All
12,912
17,402
9,825
Cucuta 9X@93
13,533
27,967
others_ _ _ _
has been on a larger scale than for a long time past with an Total this wk_ 401,448 484,481 365,918 414,010 364,955 378,767
upward tendency to prices. The principal bullish factor has
continued to be reports of a prospective shortage in the Since Sept. 1_ 3,228,329 3,079,595 2,267,423 3,047,263 2,937,318 3,455,575
Santos crop. This has led to good buying for local and outThe exports for the week ending this evening reach a total
side public account. Europe has been the principal seller.
of 333,450 bales, of which 144,389 were to Great Britain,
Closing prices were as follows:
6.50c. 49,929 to France and 139,132 to the rest of the Continent.
6.35c. July
6.250.1 March_
November
6.55c. Below are the exports for the week and since Sept. 1 1909:
6.40c. August
6.25c. April
December
6.55c.
6.45c. September
January
February
8.30c. May
6.35c. June
6.45c. October
6.55c.
Week ending Nov. 5 1909.
From Sept. 1 1909 to Nov. 5 1909.
Exported toExported toSUGAR.-Raw has been quiet and firm. Centrifugal,
Exports
96-degrees test, 4.30c.; muscovado, 89-degrees test, 3.80c.;
ContiContiGreat
Great
from
Total.
nem.
Britain. Fence. nent. Total. Britain. France
molasses, 89-degrees test, 3.55c. Refined has been quiet
and firm; granulated 5.05c. Teas and spices have been in Galveston ___ 57,38014,73 .54,045126,155 289,961 224,198 322,937 837,096
8,311 1,000 21,237 30,548
5,84: 5,848
good demand and firm. Wool quiet and firm. Hops dull Port Arthur_
6,951
6,951
508
50
Corp Chrlstl.&c
and steady.
45,898 232,894
5,229 34,017 125.588 61,408
New Orleans__ 28,788
11,148 50,692
10,015 29,529
20,996
11,148
9,848
Mobile
active
at
moderately
PETROLEUM.-Refined has been
16,399 49,481
12,708 20,374
10,343 8,200 18,543
Pensacola _6,932
6,832
firm prices. Barrels 8.15c., bulk 4.65c. and cases 10.55c. Gulfport _
___ 6,832
1 39 48,194 122,149 54,015 223,266 399,430
23,
Gasoline has been firm, with a routine demand; 86-degrees Savannah ____ 25,057
5,496
51,458
105,501
48,547
16,122
_
5.49
10,626
Brunswick_
in 100-gallon drums 18c.; drums 88 50 extra. Naphtha Charleston_
58,912 70,732
11,820
9,200
9,2
__
19,698 19,698 65,938 15,700 93,418 175,056
has been fairly active and firm; 73(4,76-degrees in 100- Wilmington.-----4,800
32
4,832
3,3
3,5'05
40.; drums 88 50 extra. Spirits of turpen- Norfolk
gallon drums 163
Newport News
122 10,322 53,399 17,131
45,052 115,582
1,388 8,81
tine quiet and easier at 60®60c. Rosin quiet and steady New York
____ 6,998 53,430
6,189
59,619
6,948
Boston
at 84 20 for common to good strained.
3,258
8,087 1.202
16,537
25,826
2,558
Baltimore
-55 1,907 14,202
"5
5,792
19,994
1,512
TOBACCO.-The local market for domestic leaf has been Philadelphia _
- --Portland, Me
quiet during the week and there has been an absence of San
1;666
6.400
6,400
__
Francisco_
3,439
3,439
noteworthy developments. Manufacturers in most sections, Seattle
__
Tacoma
however, are still busy, and it is the general belief that the Portland, Ore_ --200
200
trade in leaf will expand sooner or later. Sumatra and Pembin-1
Detroit
Havana have been quiet. Prices have been firm.
144,389149,92! 139,132 33,450 835,787 430,053 935,2652,201,105
Total
COPPER has been firm. The consumption in this country
in October was about 50,000,000 lbs., as against 45,000,000 Total 1908....134,000,46.822180,660361,482 697,744 330,1 1.037.6832,065.527
in September. Production, however, has been very heavy
8@130.; electrolytic
/
In addition to above exports, our telegrams to-night also
and stocks are increasing. Lake 127
123
/i(4,12Nc.; casting 12 W)12%c. Lead quiet at 4.40c. give us the following amounts of cotton on shipboard, not
Spelter quiet at 6.35c. Iron has been strong and active. cleared, at the ports named. We add similar figures for
New York.
No. 1 Northern $18 75(41819 50; No. 2 Southern $19 25.
THE CUTRONTCLE
136,081
148,692
218,088
37,589
25,671
11,198
104,648
21,593
Total 1909_ _ 50,939 29,579 47,839 25,176 33,506 187,039
Total 1908... 78,929 27,101 61,096 74,672 28,486 267,284
Total 1907_ _ 99,235 53.558 77,368 35,093 31,292 296,546
703,560
552,296
498,268
5,55-9
1,500
1,000
16,000
2,714
-6.66
-666
-goo
19,000
Speculation in cotton for future delivery this week has
been more active than in any similar period since the Sully
year of 1903-04, and for a time prices steadily advanced.
On Thursday, however, came the long-expected reaction.
It was, roughly, 50 to 60 points, and was precipitated by
very heavy liquidation and aggressive selling for short account. Back of this, however, it had its raison d'etre in a
falling off in the spot demand and the spread of the movement to curtail production both at home and abroad. Spinners were buying the actual cotton very sparingly. The
receipts continued large. The crop reports from some parts
of the South have latterly been more favorable. Some Texas
advices have predicted a better top crop than was at one
time looked for. The East India crop is said to be something
like one million bales larger than that of last year. India
cotton is advertised in this country for sale to American mills.
Some'Southern spinners, it is stated, are beginning to use it.
The spot sales in Liverpool from 12,000 bales a day recently
have fallen of late to 7,000 bales. Texas cotton is on a tenderable basis at New York. The stock here is steadily increasing. The total movement into sight thus far this season shows a noteworthy increase over that for the same time
last season. As to the speculation, it has admittedly expanded to dangerous proportions, and the price reached a
level which led experienced and conservative people to eye
it askance. In such a combination of circumstances, it
seemed certain that, sooner or later, when speculative buying
slackened, there must be a sharp reaction. It came,as already
stated, on Thursday, and in the judgment of many, while rallies may occur from time to Mille, partly, perhaps, from an
increase in the short interest, it would be no surprising thing
to see prices sag for a certain period. It is supposed
that the sudden drop in the price on Thursday will
encourage a good, many spinners to hold aloof and at the
same time will dampen the ardor of the public for bull
speculation in cotton. At the same time the exports are
large and advocates of higher prices insist that, though
violent reactions may occur from time to time, the general
trend of prices must be upward if their theory is right-that
the crop is short and the consumption large-even allowing
for curtailment. American and foreign spinners have
bought January and March to some extent and Liverpool for
a time was a liberal buyer in liquidating trans-Atlantic
straddles. Chicago and Southern operators gave support in
• the fore part of the week, although it was reported that both
sold quite freely in Liverpool and New Orleans on'Election
Day. There has been loud talk from the South and elsewhere about the possibility of 20-cent cotton some time
during the present season. At one time the more radical
bulls predicted it for the month of December. Now some
have postponed the fulfilment of this prophecy to some
indefinite period during the present season. Bulls expect a
bullish census report on the ginning next Monday,'and
looked for something of similar tenor from the National
Ginners Association on Friday of the present week. After
an advance of, roughly, 332 cents, however, very many
people anticipate a further reaction. To-day prices were
irregular. Early in the day there was an advance on the
report of the National Ginners Association stating the
amount ginned up to Nov. 1 at 6,943,000 bales, and estimating the crop at 9,780,000 bales maximum and 9,400,000
minimum. Bulls gave support and Wall Street and Western
houses bought. Later a decline took place on reports of
weaker spot markets, bear hammering and liquidation.
Spot cotton has been quiet. Middling upland closed at
14.70c., a decline for the week of 15 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Oct. 30 to Nov. 5
Middling uplands
Sat. Mon. Tues. Wed. Thurs. Fri.
H. 15.20 14.95 14.70
15.05 15.10
NEW YORK QUOTATIONS FOR 32 YEARS.
1909..c
1908
1907
1906
1905
1904
1903
1902
14.70
9.25
11.10
10.30
11.40
10.15
10.85
8.50
1901_c
1900
1899
1898
1897
1896
1895
1894
7.94
9.56
7.56
5.31
6.00
8.12
9.00
5.75
1893_c
1892
1891
1890
1889
1888
1887
1886
8.38
8.44
8.25
9.69
10.25
9.81
9.69
9.12
1885_c
1884
1883
1882
1881
1880
1879
1878
9.38
9.88
10.50
10.50
11.62
11.00
11.38
9.38
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Futures
Market
Closed.
Sales of Spot and Contract.
ConSpot.
Saturday_ _
Monday_ _ _
Tuesday
Wednesday
Thursday _
Friday_
SU m'n.
Quiet 20 pts adv
Quiet 5 pts adv
Steady
Firm
HOLIDAY.
Quiet 10 pts adv
_ Steady
Quiet at 25 pts dec _ Weak
Quiet at 25 pts dec.. Weak
Total
Contract.
Total.
300
300
43
____
200
500
295
500
43
____
1000
1043
,1,!11:41 II
.,i
.
.-.
;
,-.
1:'41 21 ,
?,..1g1
. 21 31
.
u,
ui
.1
@I @I @I
@I @I el el @I @I @I
@I 0
@I.
,.. ,N)
0
0
'
i
:41
gl
In
..
C7!
'
.
1
In
0
t'
.
t.:
0
In
r.I
.
CO
41 41 1 I 4:1 41 41 41 41 41 2i1 :Li1
00 00 n. 1. 0. IN 0.
.n nn oo o, oo
,:g1 'TR 11
.
2" 'co ''-': 109 c..° '''' ON ''*7 ON'
44 4. v. ..4 4 '010 .. .. .. nn NN
,:6:
k4 ,
cs4
Eg
l
1 il l
I i
6' 7 E 4
l eEt@
i
i
ooov
r.
.,n
.l
. gT
ooo o.ki 10
7.4
V':'' I:L; 1010 I:t; 10..7 17.i ;t:V.; V14; :.if= !'il
N
M. NO
WO OM 00
ON
IN
r-10
nooo
00000 000
lc ,-.t..
ICI
on
Moq ,.[,: mo° WM 0,-, ON
104
ce;
, .,@.
4.
4 vi4 .O. .. mi4 44 ,,
,44
,vi4
,.
,I
I
1
00 @ .0
00
..
0 00
..
• •
E-,
Wednesday,
Nov. 3.
Total.
9,081 13,413 7,365
12,374
3,387 17,184 13,726 11,811
11,389
979 43,212
4,000 50,108
11,389
3-05tio 3,000
1,300 10,203
24,227 25,727
3,000
5,400
38,000
3,000
New Orleans.._
Galveston _ _ _ _
Savannah _ _
Charleston_ _ _ _
Mobile
Norfolk
New York_ _ _ _
Other ports_ _ _
FUTURES.-The highest, lowest and closing prices at
New York the past week have been as follows:
•
"
• •
..
0.. NO.
• 1000•
00 mm 010 1 ,,, t-0 1 10 C.1 Cl 00 N
,,?t cta! "R
1010 vv. ..80
.,... ,...NO.,.
r..0
@
@
.h
1" 99
.4 .40
@
Cl
0
.
0
ro
,t;10 .4..1 ,
@
19 '003"9
.4 oo .io
@
,
c?
„.0
."'i
40
,..
• • 000.. •
NO
000n
•
.
••
104 t,
;n
NO
"I "7 " F W)T
@
@
@
@T
00 00 ho0 ON
<1.
MO
N
,.4 .Te
o. 00.1o
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Tuesday,
Nov. 2.
Nov. 5 at-
Leaving
Stock.
0
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Monday,
Nov. 1.
On Shipboard, Not Cleared forGerOther CoastGreat
BrUain. Francet many. Foreign Wise.
maoax.
4 @I 4 @T @T 4 4 @T 4
Saturday,
Oct. 30.
1228
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8
THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week's returns, and consequently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the United
States, including in it the exports of Friday only.
November 5Stock at Liverpool
Stock at London
Stock at Manchester
1909.
bales. 742,000
5,000
42,000
1908.
409,000
12,000
30,000
1907.
567,000
24,000
42,000
1900.
326,000
16,000
24,000
789,000
6,000
191,000
254,000
2,000
6,000
35,000
3,000
451,000
18,000
178,000
98,000
4,000
11,000
16,000
6,000
633,000
16,000
74,000
91,000
3,000
11,000
18,000
34,000
366,000
12,000
87,000
51,000
4,000
6,000
53,000
1,000
497,000
331,000
247,000
214,000
1 ,286,000
Total European stocks
36,000
India cotton afloat for Europe__ _
Amer. cotton afloat for Europe_ 882,128
59,000
Egypt,Brazil,&c.,aflt.for Europe_
143,000
Stock In Alexandria, Egypt
93,000
Stock in Bombay, India
89,0,599
Stock In U. S. ports
Stock in U. S. interior towns_- 565,684
55,357
U. S. exports to-day
782,000
41,000
957,849
48,000
139,000
121,000
891,580
681,047
62,340
580,000
880,000
80,000
48,000
666,556 840,51)4
109,000
78,000
132,000
146,000
301,000 321,000
794,814 1,044,179
472,057
437,851
64,313
20,078
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
Stock at Marseilles
Stock at Barcelona
Stock at Geona
Stock at Trieste
Total Continental stocks
4,010,768 3,651,816 3 389 299 3,626,053
Total visible supply
Of the above, totals of American and other descriptions are as follows:
Americanbales. 664,000 305,000 476,000 246,000
Liverpool stocks
22,000
31,000
20,000
34,000
Manchester stock
159,000
174,000
473,000 279,000
Continental stock
957,849 666,556 840,504
8 2,128
American afloat for Europe
890,598 810,580 794,814 1,044,179
U. S. port stocks
681,047 437,851
565,684
472,057
U. S. interior stocks
62,340
55,357
20,078
64,313
U. S. exports to-day
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
..,
ContIntntal stock
India anoat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
3,564,768 3,126,816 2,585,290 2,861,053
78,000
5,000
8,000
24,000
36,000
- 59,000
143,000
93,000
104,000
12,000
8,000
52,000
41,000
48,000
139,000
121,000
91,000
24,000
11,000
88,000
48,000
109,000
132,000
301,000
80,000
16,000
4,000
40,000
80,000
78,000
146,000
321,000
765,000
525,000 804,000
446,000
3,564,768 3,126,816 2,585,299 2,861,053
4,010,768 3,651,816 3,389,299 3,626,053
Total visible supply
5.75d.
5.91d.
7.59d.
5.00d.
Middling Upland, Liverpool
10.100.
10.80c.
14.70c.
9.300.
Middling Upland, New York_ _ _ _
1-16d.
10
9-16d.
Brown,
11-16d.
Liverpool_ _12
8
Egypt, Good
10
8.70d.
12.00d.
9.25d.
8.00d.
Peruvian, Rough Good, Liverpool
5 Ud. 5 13-16d.
Broach, Fine, Liverpool
7 1-16d. 4 13-16d.
9-16d.
5
7-16d.
6 hd. 4 11-16d. 5
Tinnevelly, Good, Liverpool_ __ _
Continental imports for the past week have been 138,000
bales.
The above figures for 1909 show an increase over last week
of 252,264 bales, a gain of 358,952 bales over 1908,
an increase of 621,469 bales over 1907, and a gain of 384,715
bales over 1906.
1229
THE CHRONICLE
Nov. 6 1909.I
AT THE INTERIOR TOWNS the movement-that is,
the receipts for the week and since Sept. 1, the shipments
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.
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Closing Quotations for Middling Cotton onWeek emit
Novemder 5.
Sat'd.ay. Monday. Tuesday. Wed'day. Thursd'y. Friday.
14 5-16
1434
1434
Galveston
14%
1494
143
14 11-16 1454
14 7-16 14 7-16
New Orleans
1494
1434
1454
1454
Mobile
1454
1454
14'%
1434
Savannah
1454
1494
143
1454
1434
1454
Charleston
143
1494----14 X
1434
Wilmington_ __ _ 14
1434
V,
HOLI- 1494
Norfolk
1434
1454
14.95
15.20
DAY. 15.10
15.05
14.85
Boston
1454
1454
1434
Baltimore
1434
1434
14.95
15.20
15.45
15.35
15.30
Philadelphia
147-16
1434
5 -34
14 /
Augusta
1454
1434
145(
15
1454
1434
Memphis
14'%
1474
15
15
St. Louis
1434
1434
1434
1494
Houston
1494
1434
1434
147.16
1434
1434
Little Rock
1434
1334
8 '4
goo
NEW ORLEANS OPTION MARKET.-The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
t, R.:1
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Qct. 30. Nov. 1. Nov. 2. Nov. 3. Nov. 4. Nov. 5.
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11 Movement to November 6 1908
00
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IA
Movement to November 5 1909.
0
.
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N
0
. W
1.40.4.0.4
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0 0N00.0N0000W0000.40-000N0041.000000000.9000
The above totals show that the interior stocks have increased during the week 35,319 bales and are to-night 115,363
bales less than at the same time last year. The receipts
at all the towns have been 65,966 bales less than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for the
week and since Sept. 1 in the last two years are as follows:
November 5ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, doe
1909Since
Sept. 1.
65,499
34,643
1,279
17,931
8,168
17,350
23,373
Week.
26,406
24,760
160
3,714
1,243
6,418
15,782
Since
Sept. 1.
98,985
82,155
1,225
18,409
9,646
22,671
33,676
54,182
168,243
78,483
266,767
4,539
579
2,741
15,905
2,546
104497
6,382
5,385
2,330
19,942
10,384
8,831
Week.
19,931
11,988
350
4,640
2,682
5,898
8,693
Total gross overland
Deduct shipments-.
Overland to N. Y., Boston, &c
Between interior towns
Inland, &c., from South
7,859
28,948
14,097
39,157
46,323
139,295
64,386
227,610
Total to be deducted
Leaving total net overland •
1008-
• Including movement by rail to Canada.
The foregoing shows the week's net ovelrand movement
has been 46,323 bales, against 64;386 bales for the week last
year, and that for the season to date the aggregate net overland exhibits a decrease from a year ago of 88,315 bales.
1909
Since
/n Sight and Spinners'
Takings.
Week. Sept. 1.
401,448 3,228,329
Receipts at ports to Nov. 5
46,323
139,295
Net overland to Nov. 5
Southern consumption to Nov. 5_ _ _ 52,000 494,000
1908
Since
Week. Sept. 1.
484,481 3,079,505
227,610
64,386
46,000 402,000
499,771 3,861,624
35,310 482,521
594,867 3,709,205
55,132 665,852
Total marketed
Interior stocks in excess
Came into sight during week_ _ _535,000
4,344,145
Total in sight Nov. 5
North. spinners' takings to Nov. 5..101,692
460,445
649,999
4,275,057
117,521
599,157
Movement into sight in previous years:
Week1907-Nov. 8
1906-Nov, 9
1905-Nov. 10
1904-Nov. 11
Bales.
461,420
567,845
493,054
517,096
Since Sept. 11907-Nov. 8
1906-Nov. 9
1905-Nov. 10
1904-Nov. 11
Bales.
3,198,563
4,051,170
3,085,810
4,585,054
QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.-Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.
11111
NovemberRange
Closing
DecemberRange
Closing
JanuaryRange
Closing
FebruaryRange
Closing
&larchRange
Closing
AprilRange
Closing
ltfayRange
Closing
JuneRange
Closing
JulyRange
Closing
SeptemberRange
Closing
ToneSpot
Options
-®---
- ® -- ® -14.09-.19 14.15 ---14.69 -19.09-.19 14.00 --
14.70-.78
14.70-.71
14.90-.02 14.66-.95 14.32-.83 14.18- 51
14.99-.00 14.94-.95 14.33-.34 14.25-.26
14.81-.92
14.28-.84
15.01- 02 14.85-.12 14.49-.00 14.35-.70
15.16-.17 15.10-.11 14.49-.50 14.42-.43
-@---
- @ -- @ -- 14.64- ® ---15.20-.22 14.59-.61 14.53-.55
15 02-.12 HOL/- 15.23-.40 15.07-.35 14.72-.25 14.60-.97
15.02-.03 DAY. 15.37-.38 15.34-.35 14.73-.74 14.66-.67
_ ® _ ____ ®____ ___ ® _ ____ ® _
-@ ---15.37-.39 14.76-.77 14.69-.71
---
15.09 15.11-.12
15.37-.49 15.17-.45 14.81-.35 14.70-.07
15.46-.47 13.44-.45 14.83-.84 14.76-.77
_ ® ___ _ ® _ _ ® _ _ ® 15.47-.49 15.45-.47 14.84-.86 14.78-.80
15.15-.20
15.15-.16
15 40-.57 15.24-.51 14.86-.37 14.80-.12
15.52-.53 15.49-.50 14.89-.90 14.86-.88
-® ---
- @ -- @ -13.26-.50- @ -- -13.60 -- 13.00 -- 12.90 -
Steady
Steady.
Quiet.
Easy.
Quiet.
Quiet.
Steady. Steady. B'ly st'y Bl'y st'y
15.10-.20
15.11-.12
• Nominal.
WEATHER REPORTS BY TELEGRAPH.-Our advices by telegraph from the South this evening indicate that
the weather has been quite favorable as a rule during the
week. In consequence, picking has made excellent progress
and is nearing completion in a number of sections. The
marketing of cotton has been on a fairly liberal scale.
Galveston, Texas.-We have had excessive rain on one day
during the week, the rainfall being five inches and seventyfour hundredths. Average thermometer 70, highest 78,
lowest 62.
Abilene., Texas.-There has been rain on one day during
the past week, the precipitation reaching four hundredths
of an inch. The thermometer has averaged 62, the highest
being 80 and the lowest 44.
Corpus Christi, Texas.-There has been no rain during the
week. The thermometer has averaged 74, ranging from
62 to 86.
Fort Worth, Texas.-We have had a trace of rain on two
days during the week. The thermometer has ranged from
46 to 84, averaging 65.
Palestine, Texas.-We have had rain on one day during the
week, the rainfall being two hundredths of an inch. The
thermometer has averaged 68, the highest being 82 and the
lowest 54.
San Antonio, Texas.-There has been no rain during the
week. The thermometer has averaged 69, ranging from
50 to 88.
Taylor, Texas.-We have had rain on one day during the
week, the rainfall reaching six hundredths of an inch. The
thermometer has ranged from 48 to 86, averaging 67.
New Orleans, Louisiana.-Rain has fallen lightly on two
days of the week, the rainfall being one inch and one hundredth. Average thermometer 71.
Shreveport, Louisigna.-We have had rain on one day
during the week, the rainfall being one hundredth of an inch.
Average thermometer 65, highest 83, lowest 48.
Vicksburg, Mississippi.-It has rained on one day the
past week, the rainfall being nineteen hundredths of an inch.
The thermometer has averaged 68, ranging from 51 to 82.
Helena, Arkansas.-We have had rain on one day during
the week, the rainfall being sixty-two hundredths of an inch.
The thermorneter has ranged from 39 to 82, averaging 62.1.
October rainfall, 0.58 inch.
Little Rock, Arkansas.-It has rained on one day of the
week, the rainfall being twenty-eight hundredths of an inch.
Average thermometer 66, highest 84, lowest 48.
Memphis, Tennessee.-Fine weather for saving the crop.
Picking and marketing are progressing rapidly. We have
had no rain during the week. The thermometer has averaged 65, ranging from 46.8 to 79.8.
Mobile, Alabama.-Fine weather in the interior and cotton
is being rapidly marketed. It has rained on one day during
the week, the rainfall being eleven hundredths of an inch.
Montgomery, Alabama.-Picking is about finished. Farm-
1230
THE CHRONICLE
New Orleans
Memphis
Nashville
'Shreveport
Vicksburg
'Above.
Above zero
Above zero
Above zero
Below zero
Above zero
of gauge_
of gauge_
of gauge_
of gauge_
of gauge_
Nov. 5 1909.
Feet.
4.3
0.3
6.9
3.4
5.0
Nov. 6 1908.
Feet.
4.4
8.0
6.9
•5.8
11.0
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:
November 4.
1909.
1908.
1907.
Receipts at-
Since
Week. I Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Bombay
36,000
113,000
1
9,000'
1
For the Week.
Exports
from-
2,001 10,00
1,001 16,00
3,001 13,00
98,000
Since September 1.
Great Conti- I Japan
Great
:ritain nent. &China Total. Britain.
Bombay1909
8,0001 10.000 18,000
1908
15,0001 10,000 25,000
1907
10.0001 2,000 12,000
Calcutta1909
1908
1,000 1,66
__ 1,000 2,000
1907
1,000
Madras1,001
1909
____
_ 1,000
1,00
1908
1,0001
3,000
2,001 1,00
1907
All others3,000
100 e 2,00
1909
19081
------ -------000
000
1,01 1,00
1907_ _ _
Total all1909_ ___
1908
1997
61,000 19,000
0,001 2,000,
11,001 28,000
3,000 19,000
Continem.
Japan
& China. Total.
1,000
33,000
63,01)0
87,000
1,000
2,000
1,000
4,000
6,000
7.000
1,000
5,000
9,000
8,000
1.000
1,000
3,000
4,000
6,001
11,000
1,000
1,000
6,000
8,000
14,000
4.000
2,000
4,000
33,000
38,000
24,000
3,000
3,000
37,000
43,000
31,000
7.000 74,000
5,000 113,000
8,000 129,000
22,000 56,000
34,000 07,000
32,000 119,000
23,000 104,000
39,000 157,000
35,000 172,000
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
November 3.
Receipts (cantars)This week
Since Sept. 1
'Exports (bales)To Liverpool
To Manchester
To Continent
To America
Total exports
1909.
1908.
1907.
*300,000
1,498,801
250,000
1,186,192
400,000
2,112,457
This Since
This Since
This Since
Week. Sept. 1. Week.'Sept. 1. Week. Sept. 1.
•5,0001 34,270 5,250
*7,0001 21,601 8,000
*6,0001 43,307, 7,500
*1,000 5,2351 1,250
19,000;104,413 22,0001
1
1
21,598, 8,250 51,018
14,1621
40,312
42,610 21:000 59,281
6,309H 2,750 6,964
84,679' 39,750 157,575
11
COTTON CONSUMPTION AND OVERLAND MOVEMENT TO NOV. 1.-Below we present a synopsis of the
crop movement for the month of October and the two months
ended October 31 for three years:
1909.
-Gross overland for October
bales
Gross overland for 2 months
Net overland for October
Net overland for 2 months
Port receipts in October
Port receipts in 2 months
•Exports In October
Exports in 2 months
Port stocks on Oct. 31
Northern spinners' takings to Nov. 1.._
Southern consumption to Nov. 1
-Overland to Canada for 2 months (included in net overland)
Burnt North and South in 2 months
Stock at Northern interior markets Nov. 1
Came in sight during October
Amount of crop in sight Nov. 1
Came in sight balance of season
Total crop
Average gross weight of bales
Average net weight of bales
122,088
135,637
104,787
111,907
1,858,308
2,895,694
1,275,969
1,931,419
883,594
378,653
450,000
14,849
1908.
1907.
188,008
78,827
212,723
93,735
162,122
58,397
180,892
64,848
1,744,200 1,270,141
2,678,687 1,857,578
1,217,870
867,596
1,802,132 1,246,260
737,718
696,174
497,953
256,878
303,000
426,000
8,675
7,643
8,533
14,057
9,819
2,485,005 2,466,322 1,807,538
3,912,601 3,742,579 2,676,426
10,087,267 8,905,043
13,829,846 11,581.829
512.87
520.90
516.08
488.87
496.90
492.08
WORLD'S SUPPLY AND TAKINGS OF COTTON,
Cotton Takings.
Week and Season.
1909.
Week.
1908.
Season.
Season.
Week.
Visible supply Oct. 29
3,758,504
3,367,182
Visible supply Sept. 1
1,931,022
1,714,982
American in sight to Nov. 5_ _ _ _ 535,090 4,344,145 649,099 4,275,057
Bombay receipts to Nov.
36,000
113000
61,000
9,000
4,000
Other India ship'ts to Nov. 4_ _
48,000
3,000
60,000
39,000
Alexandria receipts to Nov. 3_ _
200,000
33,000
158,000
supply
7,000
to Nov. 3 •
Other
40,000
10,000
55,000
4,379,594 6,676,167 4,072,181 6,324,039
Total supply
DeductVisible supply Nov. 5
4,010,768 4,010,768 3,651,816 3,651,816
368,826 2,665,399
316,826 2,233,399
432,000
52,000
Total takings to Nov. 5
Of which American
Of which other
420,365 2,672,223
352,365 2,125,223
68,000
547,000
• Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
MANCHESTER MARKET.-Our report received by
cable to-night from Manchester states that the market Continues quiet for yarns and shirtings. Merchants are not
willing to pay present prices. We give the prices for today below and leave those for previous weeks of this and
last year for comparison.
1909.
32s Cop
Twist.
d.
dept
24 9%
Oct.
1 9%
8 9%
15 10
22 10%
29 10%
Nov.
5 10%
1908.
831 lbs. Starl- Corn
ings, common
Uprs
to finest.
d. s. d.
e. d.
10% 5
104 5
10% 5
10% 5
1111 5
3 (49
3% @9
4 09
4%09
6 09
9
9
9
9
11
11315 0 @911
32s Cop
Twist.
d. d.
10% 5 2 09 74 7.31 8%
00086
ers are asking 15 cents per pound, but best bids to-day are
14% cents. We have had rain on one day during the week,
to the extent of thirty-three hundredths of an inch. The
thermometer has averaged 65, ranging from 44 to 83.
Selma, Alabama.-Rain has fallen on one day during the
week, to the extent of seventy hundredths of an inch. Average thermometer 62, highest 78, lowest 41.
Madison, Florida.-There has been no rain during the
week. Thermometer has ranged from 50 to 84, averaging 69.
Augusta, Georgia.-Rain has fallen lightly on one day of
the week, the rainfall being one hnudredth of an inch. Average thermometer 60, highest 83, lowest 38.
Savannah, Georgia.-Rain has fallen on one day during the
week, the rainfall reaching five hundredths of an inch. The
thermometer has ranged from 49 to 84, averaging 65.
Charlotte, North Carolina.-Planters are selling cotton as
fast as it is picked. We have had rain on one day during
the week, the rainfall being two hundredths of an inch. The
thermometer has ranged from 38 to 77, averaging 62.
Charleston, South Carolina.-Rain has fallen on two days
of the week, the rainfall being twenty-four hundredths of an
inch. Average thermometer 65, highest 83, lowest 48.
The following statement we have also received by telegraph, showing the height of rivers at the points named at
•8 a. m. of the dates given:
[VoL.lax=
834 lbs. Shirt- Corn
trigs, common MM.
to finest.
Uprs
d.s. d.
0
s. d.
14(4)8
14(a8
14(4)8
1 ©8
1408
434
436
0
0
6
7.29 8% 0
7.27 8 11-160
7.41 8 11-160
7.37 8% 0
7.71 8% 0
9% 5
936 5
9% 5
9% 5
9% 5
7.59 84
034 5 1 08 6
0
d.
93' 5 1 08 4% 5.33
5.13
4.98
4.99
5.04
4.99
5.00
-Mr. James Smith, senior partner of Smith, Edwards
& Co. of Liverpool, died suddenly on Tuesday of last
week. Mr. Smith was very highly esteemed in Liverpool,
and his death is much deplored by the cotton trade in that
city. The original partners of the firm of Messrs. Smith,
Edwards & Co., who established the business in 1863, have
now all passed away. The former senior member, the Right
Honorable Samuel Smith, who was appointed by King Edward a member of his Privy Council, died in Calcutta on the
28th of December 1906, while he was 'visiting India on a
philanthropic mission. The business of Smith, Edwards
& Co. will be continued by Mr. James Smith's eldest son,
Mr. J. Arthur Smith.
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 333,450 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-Oct. 29-Cedric, 1,388
1,388
To Havre-Nov. 1-Chicago, 3,831_ _ _Nov. 4-Loulslane,
4,971 upland, 10 foreign
8,812
To Bremen Nov. 3 Barbarossa, 76
76
To Hamburg-Oct. 29-Cincinnati, 13
13
To Antwerp-Nov. 1-Kroonland, 33
33
GALVESTON-To Liverpool-Oct. 30-Iowa, 21,916_ _ _Nov. 2Rowanmore, 22,214
44,130
To Manchester-Oct. 30-Esperanza de Larrinaga, 13,250_ _ _ _ 13,250
To Havre-Nov. 4-Anglo-Colombian, 14,730
14,730
To Bremen-Oct. 30-St. Leonard, 10,728.._ _Nov. 4-St. Egbert, 11,583; Sikh, 8,444
30,755
To Barcelona-Nov. 2-Italle, 1,950
1,950
To Naples-Nov. 2-Italia, 200
200
To Hamburg-Oct. 30-Ethelstan, 2,669
2,669
3,192
To Reval-Oct. 30-Torr Head, 3,192
To Riga-Oct. 30-Torr Head, 1,799
1,799
2,000
To Narva-Oct. 30-Torr Head, 2,000
To Genoa-Nov. 2-Italia, 11,040
11,040
440
To St. Petersburg-Oct. 30-Torr Head, 440
508
TEXAS CITY-To Mexico-Oct. 29 Thelma, 508
5,848
PORT ARTHUR-To Bremen-Nov. 2-Glenroy, 5,848
NEW ORLEANS-To Liverpool-Nov. 4-Atlantian, 21,000_ _ _ _ 21,000
5,389
To Manchester-Oct. 29-Manchester Miller, 5,389
2,399
To London Oct. 29 Colonian, 2,399
200
To Antwerp-Oct. 29-Colonlan, 200
1,250
To Barcelona-Oct. 30-Giulia, 1,250
2,030
To Venice-Oct. 30-Giulia, 2,030
199
To Naples-Oct. 30-Giulia, 199
750
To Trieste-Oct. 30-Giulia, 750
To Flume-Oct. 30-Giulia, 400
400
To Guatemala-Nov. 5-Fjell, 400
400
MOBILE-To Havre-Oct. 29-Konakry, 9,848
9,848
11,148
To Bremen-Nov. 1-Burrstleld, 11,148
10,343
PENSACOLA-To Havre-Nov. 3-Penrith Castle, 10,343
8,200
To Bremen-Nov. 1-Cayo Domingo, 8,200
GULFPORT-To Liverpool-Nov. 4-Sierra Blanca, 6,832
6,832
SAVANNAH-To Liverpool-Oct. 30-Hllifern, 12,487___Nov. 1
-Andromeda,4,268
16,755
500
To St. Petersburg-Nov.3-Dragoman, 500
200
To Reval-Nov. 3-Dragoman, 200
To Manchester-Nov. 1-Andromeda, 50___Nov. 3-Castle8,302
ventry, 8,252
726
To Hamburg-Nov. 3-Parran, 726
To Bremen-Oct. 29-Cataione, 9,885_ __Nov. 3-Dragoman,
19,263
9,378
To Venice-Nov. 2-Marianne, 100
1,000
To Trieste-Nov. 2-Marianne, 1,000
1,350
To Flume-Nov. 2-Marianne, 1,350
10,626
BRUNSWICK-To Liverpool-Nov. 1-Bertholey, 10,626
5,496
To Havre-Nov 3-Glenmay, 5,496
9,200
CHARLESTON To Bremen-Nov. 2-Gadsby, 9,200
13,247
WILMINGTON-To Bremen-Oct, 30-Drumgarth, 13,247
6,451
To Ghent-Nov. 1-Norton 6,451
3,300
NORFOLK-To Liverpool-Oct. 30-13oliviania, 3,300
BOSTON-To Liverpool-Oct. 29-Michigan, 1_ _ _ Nov. 1-Saxoeta, 4,046_ _ _ Nov. 2-Devonian, 2,901
0,948
2,558
BALTIMORE-To Liverpool-Oct. 29-Quernmore, 2,558
700
To Havre-Oct. 30-Planet Venus, 700
PHILADELPHIA-To Manchester-Oct. 29-Manchester Corpo1,512
ration, 1,512 __ _ _
_ _
_
_
__ _
395
To Antwerp-Oct. ___-Marquette, 395
1,600
SAN FRANCISCO To Japan-Nov. 2-Tenyo Maru, 1,600
Total
363,450
1231
THE CHRONICLE
Nov. 6 1009.1
The particulars of the foregoing shipments for the week, Cash interests at the West have been liberal sellers whenever
they had the opportunity. Argentina wheat has been ofarranged in our usual form, are as follows:
fered to Liverpool at a sharp decline in prices, and the crop
Great French Ger- -0111.Europe- Mex.
Japan. Total. outlook in Argentina as well as in India is described as favorBritain. ports. many. North. South. &c.
'
10,322 able. Furthermore, the crop advices from variouw• parts
1,388 8,812
89
33
New York
126,155
Galveston
57,380 14,730 33,424 7,431 13,190
5,848 of Europe are of similar tenor. The same is true of this
Port Arthur_
5,848
---508 country. More attention has been paid to cotton specula_508
Texas City
--34,017
400
200 4-,t19
New Orleans_ 28,788
20,996 tion than to wheat by some of the leading figures in the grain
Mobile
9-,848 11,148
18,543 trade, and in the meantime bear interests have become
Pensacola
10,343 8,200
6,832
Gulfport
6,832
48,196 dominant in the market The general situation shows little
Savannah
25,057
- -- - 19-,585 "'Rio 2-,450
16,122
change for the week, except that bearish sentiment has beBrunswick
5-7
•,„
9,200
Charleston -------------____
____ 9,200
19,698 come more pronounced with the decline in the cash business
Wilmington_
13,247 6,451
3,300 for home and foreign account and the lack of anything like
Norfolk
3,300
6,948 aggressive support. Argentina's exportable surplus is said
Boston
6,948
3,258
Baltimore
2,558
700
_--1,907 to be 25,000,000 bushels larger than that of last year. In a
395
Philadelphia
1,512
Lebo 1,600 word, what with a decreased cash demand, a liberal crop
_-_San Francisco
-______
Total
144,389 49,929 101,145 15,210 20,269 908 1,600 333,450 movement and some aggressive selling for short account,
prices have given way sharply. .Selling has also been enThe exports to Japan since Sept. 1 have been 9,864 bales couraged
by weak cables from Europe. Hedge selling has
from Pacific ports.
also been
of a feature at times. On Thursday
Cotton freights at New York the past week have been as there was something
rather free selling on stop-loss orders. At times
follows, quotations being in cents per 100 lbs.:
rallies have occurred on covering of shorts. There has likeThurs.
Fri.
Sat.
Mon.
Tues.
Wed.
14
14
14
14
wise been a certain amount of commission-house buying.
Liverpool-Nov ___
14
14
12
12
Manchester-Dec __
12
12
12
12
Sales of flour at the Northwest have been large, and the out16
16
16
16
16
16
Havre-Nov
put of the mills in that section of the country continues
18
18
Bremen-Nov
18
18
18
18
25
25
Hamburg-Nov
25
25
25
25
heavy. Crop reports from Russia have been unfavorable,
Antwerp-Nov
20
20
20
20
20
20
and it is expected that the exports from that country will
Ghent, via Antwerp
26
26
__- 26
26
26
26
Reval
25
25
25
25
25
25
soon decrease materially. To-day prices advanced early
34
34
Gothenburg, asked_
34
34
34
34
on better cables than expected, reports of an increased cash
30
30
30
30
30
Barcelona,direct,Nov 30
Genoa-Nov
18
18
18
18
18
18
demand at the Northwest and covering of shorts. But later
28
28
28
28
Trieste-Nov
28
28
came a decline on heavy receipts, the absence of export
45
45
45
45
45
45
Japan-Nov
LIVERPOOL.-By cable from Liverpool we have the fol- buying and renewed hammering and liquidation.
DAILY CLOSING PRICES OF WHEAT FUTU RES IN NEW YORK.
lowing statement of the week's sales, stocks, Sze., at that port:
Oct. 15.
48,000
Sales of the week
, Of which speculators took
1,000
Of which exporters took_
2,000
Sales, American
36,000
Actual export
3,000
Forwarded
65,000
Total stock-Estimated
602,000
Of which American-Est.. _ _522,000
73,000
Total imports of the week_
67,000
Of which American
340,000
Amount afloat
311,000
Of which American
Oct. 22.
41,000
1,000
1,000
31,000
7,000
99,000
627,000
544,000
132,000
112,000
358,000
326,000
Futures. Steady at Steady at
Market 1 506 pts. 205 pts.
decline,
opened
5 advance.
B'rely st'y Steady at Excited at
20023
at 304 pis. 608 pts.
decline,
advance. pts dec.
Oct. 29.
53,000
1,000
2,000
41,000
3,000
66,000
672,000
591,000
114,000
100,000
404,000
362,000
Nov. 5.
46,000
2-,666
39,000
6,000
88,000
742,000
864,000
164,000
153,000
413,000
355,000
Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter, 1. o. b
12034 12034
12434 123 34HOU- 121
December delivery in elevator __ _ _113% 11234 DAY 11034 11034 10934
May delivery in elevator
10934 1094 10834
11134 11134
DAILY CLOSING PRICES OF WHEAT FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery in elevator_ __ _105 M 104'4 104
101 % 102
10134
May delivery in elevator
104% 10434 103% 10234 102'4 101%
July delivery in elevator
9734 9734 9634 9534 9534 9534
Indian corn futures have, on the whole, pursued a down_
The tone of the Liverpool market for spots and futures ward course with wheat, despite occasional rallies due to
each day of the past week and the daily closing prices of overselling. The weather has in the main been favorable
for curing the crop and bears are confident of a marked inspot cotton have been as follows:
crease in the receipts, which are already large in comparison
with the movement of a year ago. The leading cash houses
Spot.
Saturday. Monday. Tuesday. Wednesday. Thursday. Friday.
at Chicago have been prominent in the selling of late and so
Market, 1
have country commission firms. The cash market at the
12:15 } Quiet.
Quiet.
Quiet.
Moderate
Quiet.
UnP. M. J
demand.
settled.
West has been dull, though without marked change in prices.
To-day prices were firmer early with wheat. The cash deMid.UpPds
7.89
7.89
7.94
7.95
7.91
7.59
mand at the West was larger and shorts covered. Later on
Sales
10,000
14,000
7,000
5,000
7,000
7.000
wheat weakened and corn followed. Weather and crop
500
500
500
500
Spec.&exp.
500
500
news was bearish and cash interests sold.
Firm.
Quiet at Irregulai at Irregular at
Market, 1 Firm at B'rely st'y Firm at
} 48112 pts. at 5 to 13 1602634 6015 pis. 334(4)434 1134016
4
P. M. 5 advance. pts. dec. pts. adv. advance. pts. dec. pts. dec.
The prices of futures at Liverpool for each day are Fiven
below. Prices are on the basis of upland, • good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Thus. 7.73 means 7.73-100d
Sat.
Mon.
Tues.
Wed.
Fri.
Thurs.
Oct. 30
124 1234 1234 4 123j 4 1234 4 1234 4 1234 4
to
Nov. 5. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m.
d.
d.
d.
d.
d.
d.
d.
a.
d.
d.
d.
d.
October__ ____ 7 73
____ 81 M 75 67 773463 39 4834
November ____ 7 69 M 69 61
Nov.-Dec. ____ 7 66 67 58
____ 79 73 M 66 70 62 37 4734
Dec.-.Tan ____ 7 66 67 58
____ 79 7334 66 70 62 37 4731
Jan.-Feb ____ 7 67 68 59
____ 81 34 7554 68 7234 64 39 49%
Feb.-Mch. ____ 7 6834 6934 6034 ____ 8334 7734 70 74 66 3934 51
Mch.-Apr. ____ 7 70 71
____ 86 7934 72 M 76 68 4014 53
62
Apr.-May ____ 7 71
72 63
____ 87% 8034 7434 77 70 4154 5434
May-June ____ 7 72 73 64
____ 89 M 8334 77 79 72 43 56
Tune-July ____ 7 71
72 6334 ____ 89 8334 77 79 72 43 56
62
____ 88 M 83 77 7834 71
Tuly-Aug_ ____ 7 6934 71
4234 55
33
____ 54 49 44 4534 40 12 26
Aug.-Sep_
7 38 38
____ 00 95 91
Sept.-Oct. ____ 6 96 87 83
91M 8634 62 75
795675 77 713448 60
Oct.-Nov_ ____ 6 '2 62 67 .._....84
62
____ 78 73 70 72 67 43 55
_
Nov.-Dec. --------65
BREADSTUFFS.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN TN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
69
693.4 HOLI- 6954 6934 694
December delivery in elevator_ _ _ _ 6934 693.4 DAY. 6934 69
694
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues.
December delivery in elevator_ __ _ 59 A 58% 58 %
May delivery in elevator
6134 6034 (1034
July delivery in elevator
6034 604 6034
Wed. Thurs. Frt.
5834 58 % 5834
6034 604 6054
6034 6034 59„3i
Oats for future delivery in the Western market have been
easier with other cereals. Very many in the trade are confident of much larger receipts, ere long and as stocks of contract
grade at Chicago are heavy sentiment is bearish. The cash
trade has been sluggish. The receipts at some points have
increased. To-day prices were slightly higher early, with
wheat and corn and on covering. Later there was a decline,
when wheat reacted. Cash houses and commission firms
sold. Larger arrivals were reported at some points.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Mon.
Sat.
Tues.
Wed.Fri.
Thurs.
Natural
• 44-46
white__ 44-46
HOLT44-46
44-46
4434-46
White
clipped. 46-4834 44-4834
DAY
46-4834 4534-4834
46-4834
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery in elevator_ __ _ 39 % 39 N 3954 3934 3934 38 %
42
41 % 41 % 41 %
May delivery in elevator
4234 42
July delivery in elevator
3934 ____ 3934 3934 39 M 3934
The following are closing quotations:
FLOUR.
grades_ __
_$4 408114 60 Kansas straights,sacks..$5 10 @,. 15 40
Winter. low
Friday, Nov. 5 1909.
5 7581 6 30 Kansas clears, sacks__ 4 5081 4 65
Winter patents
54081570 City patents
Winter straights
63081 660
Prices for wheat flour in the local market have ruled Winter
5 0081 5 25 Rye flour
clears
3 9081 4 45
steady. There has been little business. The decline in Spring patents
5 6081 5 85 Graham flour
4 1581 4 40
straights
5 3081 5 45 Corn meal, kiln dried
3 3081 3 35
wheat has made buyers disposed to purchase even more Spring
4 7581 5 00
Spring clears
sparingly than recently. Stocks and offerings have increased
GRAIN.
of late. What few sales have been made have been confined Wheat, per bushelCorn, per bushelCents.
N. Duluth, No. 1
No. 2 mixed
elev. 6934
11.1134
to spring-wheat flour. Trade at some Western points has
N. Duluth, No. 2
1.094
No. 2 yellow
f.o.b. 7034
diminished and in the Southwest it has been dull. At the
_..f.o.b
Red winter. No.
No. 2 white
f.o.b. Nominal
1.2034
.. 2_ ____
Hard "
1.1534 Rye. per bushelprincipal spring-wheat flour centres, however, it is a different Oats,
per bushelNo. 2 Western
Cents.
f.o.b. 76
story. A brisk business has been done at the Northwest,
Natural white
4448146
State and Jersey
Nominal
454@484 Barley-Malting
White clipped
Nominal
and the mills there continue to produce in excess of half a
Nilsed
Nominal
I. f., N. Y. 618163
Feeding.
c.
million barrels a week. Corn meal and rye flour have been
For other tables usually given here, see page 1200.
quiet and steady.
Wheat has declined under the weight of big receipts and
The visible supply of grain, comprising the stocks in
heavy liquidation; also there has been an absence of export granary at principal points of accumulation at lake and
demand and purchases by American millers have fallen off. seaboard ports Oct. 30 1909, was as follows:
11,000
466,000
344,000
642,000 3,703,000
619,000 3,987,000
Rye,
bush.
Barley,
bush.
52,000
1V/teat,
bush.
27,002,000
12,068,000
51,000
274,000
53,000
254.000
SUMMARY.
Corn,
Oats,
bush.
bush.
2,654,000 13,264,000
51,000
274.000
Barley.
Rye,
bush.
bush.
642,000 3,703,000
52.000
Total Oct. 30 1909..39,070,000
Total Oct. 23 1909_ _36,196,000
Total Oct. 31 1908_ A8,053,000
2,705,000 13,538,000
3,413,000 13,001,000
9,691.000
1,221,000
642,000 3,755.000
627,000 4,023,000
987,000 6,806,000
8,000
52,000
36,000
THE DRY GODS TRADE.
New York, Friday Night, Nov. 5 1909.
More activity developed in the secondary market for
cotton goods this week and the volume of business showed
material increase. Shipments were heavy and mail orders
large in several quarters, more business, in fact, being tendered than sellers were able to accept, owing to the recent
further advances in the primary market and the disposition
of many factors to hold for prices close to a parity with the
staple. Jobbers' prices as a rule are still below primary
levels, although they are gradually working upward. Brown
sheetings, Southern standard, as well as 4-yard and 3-yard
tc. during the week, and
sheetings, were advanced about Y
tickings, 8-ounce, are Mc. higher; other goods displayed a
firmer tendency, and additional lines were placed at value.
Brown cottons, especially, are strongly held, owing to the
widespread curtailment of production; more mills joined this
movement in the past few days, including many not affiliated
with the Arkwright Club, because of the disparity between
the cost of raw material and selling prices of goods. Perhaps the development most encouraging to sellers is the increased and broader interest shown by buyers of finished
merchandise; they have taken goods for spot and near-by
delivery more freely than for some time past and with less
resistance to the higher asking prices than a while ago. It is
also considered significant that in many lines they have
shown more disposition to operate for forward requirements
and generally have displayed more confidence in the future.
There are no evidences of a rush on the part of retail merchlints to secure goods, but where sellers are willing to accept
forward business they have been purchasing staple fabrics
in a conservative way to meet normal needs. In the primary market trading for forward delivery was generally
quiet, as manufacturers, owing to the continued strength of
raw material, have continued very firm and above buyers'
views; some agents, however report that buyers in actual
to pay full prices asked.
'
need of goods have not hesitated
Representatives of the largest carpet manufacturers opened
their spring lines during the week; the attendance of buyers
was unusually large and the volume of business booked was
reported highly satisfactory, some individual orders being
of record size; an advance of $1 each was named on Wilton
rugs and 50 cents on Brussels, while ingrain and Brussels
carpets were marked up 2y2 cents a yard; the Alex. Smith
& Son's lines were opened at prices which were in force last
May, but it was announced that these prices were liable to
be withdrawn without notice and that January prices would
be about 5% higher than the advances named by this firm
last July. Demand for dress goods has broadened, especially
for broadcloths, diagonals and medium-priced fabrics; in
men's wear, staple woolen and worsted goods, particularly
the former, have been in active request.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending Oct. 30 were 5,113
packages, valued at $302,366, their destination being to
the points specified in the table below:
rNew York to Oct. 30Great Britain
Other European
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
-----1908---------1909----Since
Since
Week. Jan. 1.
Week, Jan. 1.
5
699
1,622
88
1
970
943
54
160,94118,550
12,292
2K)
250
14,531
25,414
24,024_
i8
8,172
13.600
1,060
23,486
1,230
34,705
68
27
1,348
1,455
272
344
13,109
11,736
2,888
34,707
45,648
327
383
17,441
338
18,664
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Oct. 30 1909 and since
Jan. 1 1909, and for the corresponding periods of last year,
are as follows:
co°
0
00
5,113
326.646
r: 2,550 _157,411
go
- Co a ce"
00
1,1
.1000,
ci
uo
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00
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mh
h.
ci .0
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NW
00
00
00
NO
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OW
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10.0
on
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.
co'a
cOr..
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ci
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0000
000
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10
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0.0
0.
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"10".".0
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.m.
o.0 Or 0 0°
.an.1.00 0
P CI CI".
°C .
"
ei 04 v. 04
CD
o.
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44
4
r 00
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t.
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Cl
02 e.
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ci
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t; a
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f,3 8%.44
.3.4 Go
00 CD e,0
00
r co n 00
,
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.0
cci a
.R *2
R.
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0000
•
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r.
ci
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• ep
t. e.
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• tT 04 Tr 0
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1'4
Total
,p 0010 el go
uo 000 00 00
.o t. ,4 04 e4
ON
t".
WO)
NO
Oh
139,414,588
43,000
425,000
42,000
1,000
87,000
2,000
10,000
33,000
181,000
98,090 1,057.000
164,000 1,021,000
3,000
40,000
558,594 104,638,525
1.000
The value of these New York exports since Jan. 1 has
.been $17,823,459 in 1909, against $9,883,635 in 1908.
There was a steady call for bleached goods this week;
holders continued very firm and additional lines were placed
at value. Lancaster staple ginghams were advanced to 7c.
to apply against "value orders,' and these goods were immediately placed at value again- the announcement of this new
price quickened interest in Other lines and jobbers received
many requests for shipments of stocks available on the oldprice basis. Orders for staple prints were large in the aggregate, but sellers are apparently not inclined to press sales at
current levels; talk of an advance in the base price has continued. As already noted, heavy brown cottons ruled much
firmer, and demand increased somewhat, as buyers anticipate a further advance. Retailers operated steadily on
blankets and flannelettes, and the call for shirtings, colored
cottons, wash fabrics, &c., reached good proportions. Export trade remained almost at a standstill, owing to the high
prices asked. In the print-cloth market demand was fairly
steady, but only a moderate business was done, as mills were
not disposed to sell freely; prices remained firm but unchanged.
WOOLEN GOODS.-Business in men's wear light fabrics
was rather quiet, but there was a heavy demand from wholesale clothiers for fancy woolen overcoatings and heavy-weight
suitings; the steady application on these goods has reduced
stocks of leading producers, it is said, to very small proportions, and the best-known manufacturers are operating
their plants overtime to meet the demand. Suitings and
overcoatings available for prompt delivery met with a ready
sale and the market is reported well cleaned up. Demand
for carded wool goods showed no abatement. Trade in
worsteds was comparatively quiet, although some additional
business was booked on staples. Activity in dress goods
was confined largely to retailers who operated quite freely
on lines for next spring, especially serges, panamas and lightweight diagonals. For prompt and near-by shipment broadcloths, mohairs and medium-priced fabrics continued in
good request.
FOREIGN DRY GOODS.-Imported woolen and worsted
fabrics, particularly the former, were taken in fair quantities. An increased demand for all lines of housekeeping
linens came forward from retailers who are preparinq for
their special sales in the near future; substantial duplicate
orders on dress linens for spring were also received. The
call for light-weight burlaps increased considerably and ft
substantial business was reported done; heavy-weights, however, ruled quiet. The latter remained unchanged in price,
but light-weights are quoted higher at 3.65c.
140,794,099
Total Oct. 30 1909_12,068,000
Total Oct. 23 1909__10,546,000
1,000
137,000
Barley,
bush.
164.000
1,000
76,709,821
2,654,000 13,264,000
Total Oct. 30 1909__27,002,000
3,360,000 12,747,000
Total Oct. 23 1909...25,650,000
CANADIAN GRAIN STOCKS.
Corn,
Oats,
Wheat,
bush.
bush.
bush.
51,000
274,000
1,095,000
Montreal
4,599,000
Fort William
3,084.000
Port Arthur
3.290,000.
Other Canadian
Rye,
bush.
4,000
492,117 112,816,390
AMERICAN GRAIN STOCKS.
Oats,
Corn,
Wheat.
bush.
bush,
bush.
178,000 1,016,000
1,339,000
New York
6,000
124,000
300,000
Boston
55,000
483,000
Philadelphia
137,000
464,000
808,000
Baltimore
103,000
205,000
52,000
New Orleans
93,000
102,000
Galveston
394,000
1.084,000
1,577,000
Buffalo
978,000
29,000
414,000
Toledo
555,000
119,000
161,000
Detroit
800,000 3,956,000
1,701,000
Chicago
412,000
106,000
455.000
Milwaukee*
8.839,000
985,000
Duluth
24,000
2,463,000
Minneapolis
1,459,000
1,851,000
123,000
375,000
St. Louis
224,000
2,549,000
511,000
Kansas City
18,000
1.143,000
16,000
Peoria
122,000
442,000
Indianapolis
300,000
60,000
287,000
2,192,000
On Lakes
385,000
On Canal and River.- 343,000
American
Canadian
[VoL. Lxxxix.
THE CHRONICLE
1232
to
00
‘1.
THE CHRONICLE
Nov.61909.1
ATYITY. ;lin CITY
The Thratticte.
DtriVRTMENT.
SA,
PUBLISHED WEEKLY.
Terms of Subscription-Payable in Advance
$10 00
For One Year
(3 00
For Six Months
13 00
postage)
(including
European Subscription
7 50
European Subscription :•ix months (including postage
.22 14s.
Annual Subscription in London (including p, stage)
Xl 11 s.
Six Months Subscription in London (including postage)
$11 50
Canadian Subscription (including postagel
Subscription includes following StoplenvntsS l'ATE AND CITY (serni.annually)
,NK AND QUOTATION (monthly)
RAILWAY AND.INnusTram.(quarterly) ELECTRIC R‘ILWAV(3 times yearly)
BANKE.,8' CONVItNTION (yearly)
RAILWAY EARNLNOS(monthly)
Terms of Advertisind-Per Inch Space
$4 20
Transionl matter per inch space (14.agate lines)
22 00
(. times)
Two Months
Three
29 00
Months
(13
mes)
ti
Standing Business Cards / six 'Months
50 00
(20 times)
Twelve Months(52 times)
87 00
CHICAGO OFFICE-P. Bartlett,513 Monadnock Block; Tel. Ilarrison 4012.
LONDON OFFICE-Edwards & Smith, 1 Drapers' Gardens, E. C.
WULLI
P.O. ox
M IL DANA COMPANY, Publishers,
New York.
Front. Pme nod Depeyster Sts.,
MUNICIPAL BOND SALES IN OCTOBER.
The total of municipal bonds placed during the month
just ended is, with but one exception, larger than that reported for October in previous years. The issues put out
aggregate $15,627,909, as compared with $19,799,879 for
September 1909 and $14,078,829 for October 1908. Shorttime loans, or temporary loans as they are called in our columns, amounted to $18,346,774. New York City floated
$12,000,000 general fund bonds. These two amounts, together with $1,400,394 Canadian loans made in October,
are in addition to the $15,627,903 given above. The larger
and more important sales of the month were as follows:
and $641,500 4s; Springfield,
Pittsburgh, Pa., $384,100 4
Mass., $600,000 33s and $300,000 4s; Dallas County, Tex.,
$875,000 4s; Los Angeles School Districts, Cal., $720,000 4s;
Cincinnati, Ohio, $735,000 4s; Memphis, Tenn., $581,000 6s;
Wilkes-Barre, Pa., $500,000 4%s, and Middletown, Conn.,
$340,000 4s.
The number of municipalities emitting bonds and the number of separate issues made during October 1909 were 222
and 300 respectively. This contrasts with 309 and 393 for
September 1909 and 378 and 382 for October 1908.
For comparative purposes we add the following table,
showing the aggregates for October and the ten months for
a series of years.
For the
Ten Months.
$284,227,707
257,319.946
209,516.322
167,971,622
1906 ____ 14,819,277
148,937,223
1905 ____ 7,915,496
208,221,652
1904 ____ 10,299,995
123,942,878
1903 ____ 12,196,885
123,167,279
1902 ____ 5,488,424
109,103,198
1901 __- 9.779,197
Month of
October.
1909 ___215,627,909
1908 ____ 14,078,829
1900
1899
1898
1897
1896
1895
1894
1893
1892
Month of
October.
_416,421,185
____ 9,314,854
____ 4,906,607
____ 6,872,293
____ 4,688,463
____ 6,697,012
____ 8,685,435
___ 11,839,373
___.. 11,766,420
For the
Ten Months.
$113,615,626
104,341.291
88,057,166
113,259,756
60,917,879
98,950,928
99,140,271
52,813,939
75,350,254
In the following table we give a list of October loans to
the amount of $15,627,909 issued by 222 municipalities.
In the case of each loan reference was made to the page in
the "Chronicle" where an account of the sale is given.
Rate.
Name.
Page.
434
1097__Aberdeen, So. Dak
1022_ _Adrian Ind. S. D. No. 55,111inn. 434
4
1235_ _Alexandria, Va
1235_ _Alliance, Ohio (4 issues)
434
1023__Atiantic City, N J
434
1235Ballston Spa, N. Y
1235_ _ Ballston Spa, N. Y
454
1235__Ballston Spa, N. Y
434
1097_ _Bartlesville Sch. Dist., Okla_ 5
1097_ _ Batavia, N Y
1023.._ Bay County, Mich
4
454
945__Bayonne, N. J
434
1097__Bayonne, N J
1097_ _Beaumont High Sch. Dist.,Cal.
1023_ _ Bell School District, Cal
5
1023_ _Benton Twp. S. D. No. 4,Mich. __
1098_ _Berlin School District, Wis
434
1235__Bernalillo County, N. M
1235__Berrien Springs S. D., Mich
4
1176_ _Bloomington. Ill
1098_13oerne Ind. Sch. Dist., Tex__ 5
6
1098_ _Boulder, Colo
1023..Bowman, No. Dak
5
1098_ _Brainerd, Minn
1236_ _ Branchville, N. J
434
454
1098_ _ Brown County, Minn
1023__Burlington Sch. Dist., Iowa_
5
1023_ _ Butler, Ind
1236_ _Cache River Dr. D. No. 1, Ark.
5
1236_Caldwell, Idaho
1236__Caldwell, Kan
434
1098...Calexico, Cal
434
946_ _Canton, Ohio (9 issues)
4
1176_ _Carbondale, Pa
434
1098__Cass County, Minn
5
1098__Cass Township S. D., Ohlo
5
1098__Cecll, Ohio
1098-Chelan Co. S. D. No. 12, Wash. 5
1236_-Chewelah Dr. Dist. No.2,Wash 6
1023- -Cincinnati, Ohio (5 issues)____ 4
4
1098-Clermont County, Ohio
6
1023-Cleveland, Miss
6
1236-Coleraine, Minn
Price.
Maturity. 'Amount.
$42,000 100
1019
5,000 100
1919
647,000 100
1938
70,000
205,000 103 63
1944
7,000
1910-1923
2,000 100.057
1910-1913
500
1915
25,000 100.42
1929
375,000 100.21
1914-1938
25,000 y102.21
1923
184,200 102.779
1929
60,500 102.93
1929
18,000 109.161
10,000 101.45
1910-1019
8,000 100.1875
1911-1920
20,000
d1920-1940 100,000 100
5,000 102
50,000
d1919-1929
15,000
d1919-1949
5,000 1-00.60
8,000
57,500 105.234
1919-1929
1939
10,000 103.131
70,000 101.392
1915-1924
200,000
3,000 100.333
1910-1915
60,000
36,059 100.119
d1919-1929
, 30.000 100
1929
37,500 102.74
20,500 101.902
13,000 100 '
1922
90,000 100
1910-1924
1,600 100.375
1910
1,250 100
1910-1914
10,000 100
d1910-1929
76,000
1914&1919
735,000
23,000 100.032
1911-1929
15,000 103
1929
40,000 100.75
1233
Price.
Page.
Rate. Maturity. Amount.
Name.
1,000 100
1919&1920
1023_ _Coldwater School Dist., Ohio__ 5
2,324 104.16
1910-1914
6
1098__College Hill, Ohio
50,0001 102
1910-1949
5
1098_Colusa. Cal
50,000J
1098_ _Colusa, Cal
1914-1938
5
8,247 105.553
1911-1919
947_ _Corlett, Ohio (3 issues)
5
30,000 100
947_ _Corning School District, N. V. 4
1911-1925
90,000 101.666
1099_ _Corpus Christi. Tex
d1919-1949
5
39,500 100.15
1176_ _Cuba Un. Fr. S. D. No. 1, N.Y. 434 1910-1930
1,500 100
1099_ _Custer Co. S. D. No. 12, Mont_ 6
1914
1099_ _ Dallas County, Tex.(3 issues). 4
d1919-1949 875,000
16,000 100
1177_ _Dayton, Wyo.
5
d1924-1939
4,600 104.782
947_ _Delaware, Ohio
5
1910-1919
7,500
947__ Denham Spr. H.S.D.No.2,La_ 5
1910-1914
1024_ _ Devil's Lake S. D., No. Dak
4
25.000
1929
947_ _ Douglas County, Minn
46,000 100.978
1919
434
1024_ _ Dover, Del.
75.000 101.158
434 d1929-1959
65,000 100.02
1177_ _Du Bois School District, Pa... 434 d1919-1939
1236 _ _ Dyersburg, Tenn
15,900
6
7,900 103.037
947__East Palestine, 0. (3 issues)._ 5
16,000
1236_ _East Rutherford S. D., N. J
434 1913-1920
30,000
1236_ _Eden, Me
1916-1921
30,000 100.75
947__ El Dorado, Ark
6
250,000 100.02
d1919-1949
1099_ _ Ellis Co. Road Dist. No. 1,Tex. 5
5,000
4
1939
947..Elmwood Place, Ohio
4,000 107.10
1922-1925
5
1177_ _Erie Township. Ohio
1,500
1929
1024_ Eugene Sch. Dist. No. 18, Ore_ 6
75,000
1929
4
1177_ Fairfield, Conn
1,000 100
1919
1099„Fairview S. D. No. 13, Mont__ 6
40,000 105.40
1177_ _Fillmore Union H. S. D., Cal_
1099_ _Fisher County Common School
11,300
d1919-1929
Districts. Tex. (8 Issues).._ 5
82,700 100
4
1099_ _Flint. Mich.(2 issues)
1,600 104.937
1924-1931
5
1177_ _ Hushing, Ohio
d1929-1949 150.000
1177_ _ Fort Worth, Tex
70,000 100
4
1920-1926
1177__Fulton County, N Y
45,000 105.183
1910-1939
4
948_ _Gardner, Mass
54,050 103.62
1915-1940
5
1099_ _Garfield Special S. D., N. J
4,000 100
d1919-1949
1177._Garza Indep. Sch. Dist., Tex_ 5
30,000
5
1236_ _Glasgow, Mo
1910-1929 100,000 100
6
1100_ _Grand Forks, No. Dak
42,500 105.882
1100_ _Grand Junction, Colo
99,000 100.751
1177__Grand Rapids, Mich.(2 issues) 454 1912-1914
12,000
51919,'25& '29
948_ _Greentree (Borough), Pa
25,000 104
6
d1929-1939
1237_ _Hagerman. N. M
4
22,300
948_ _Hamilton, Ohio (2 issues)
12,037 101.639
434 1910-1919
1100_ _ Hamilton, Ohio
12,743 101.635
1100__Hamilton, Ohio
434 1910-1919
1.739 101.636
1100_ _ Hamilton, Ohio
434 1910-1919
150,000 102.036
434
1929
1177_ _Hamilton County-. Tenn
20,000 105.913
5
1100_ _ Harrison Township, Pa
1934
105,000
1177_ _Hartshorne, Okla. (2 issues) _ _ 5
8,000
1920-1927
1177_ _Hempstead S. D. No. 9, N. V. 4
35,000
1920-1954
1177_ _Hempstead S. D. No. 9, N. Y.. 4
50,000
1024_ _ Hent yctta. Okla
24,500
1934
434
1024_ _ Homestead. Pa
25,000
1024_ _Homestead School District, Pa. 434 1910-1934
4,434&5 Various. 136,671
1237_ _Indiana (19 issues)
25,000
d1919-1949
5
1024__Jacksonville Ind. S. D., Tex
35,000
d1914-1939
1024_ _Johnstown School District, Pa. 4
1,200 y100
1919
1237_ Kalispell S. D. No. 20, Mont__ 6
98
25,000
1919&1929
5
1237._ Kelso, Wash
17,000
1910-1919
5
1237_ _ Kent. Ohio
6.000 102
6
d1914-1929
1100_ _ Kilmichael, Miss
30,000 100
4
1025_ _La Grange S. D. No. 102, Ill
17,970 103.717
1910-1919
5
1025_ _Lakewood, Ohio
4,500 106
1912-1920
6
1100_ .Lester Prairie, Minn
55,000 101.545
d1919-1929
5
1237_ _Lewiston S. D. No. 1, Idaho
25,000 104.279
1948
434
1100_ _Lexington, Ky
36,000 101.414
434 1912-1914
949_ _Licking County, Ohio
50,000 100
1100_ _Linwood & AuburnLev.D.,Ark.
4
10,700 100
1100_ _Logan. Ohio
245,000 100.10
434
1237_ _Long Beach, Cal
1910-1949 240.000
1100_ _Los Angeles School Dist., Cal_ 4
1910-1949 480,000
1100_ _Los Angeles High S. D., Cal__ 4
40,000 102.635
4
1910-1929
1177_ _Ludlow, Mass
5,000 100
1910-1914
6
1178_ _McKinley, Minn
6,000 102.25
5
1025__Marion County, Ohio
54,000 101.269
1929
5
1238_ _Marshfield, Ore
54,250
1919
e
1178_ _Medford. Ore
581,000 102.259
1910-1914
6
1101_ _Memphis. Tenn
75,500
1238_ _Mercer County. Ohio (9 issues) 4
340,000 100
1929
4
1178_ _Middletown, Conn
111,000 100.56
334 1910-1929
1178_ _Milton, Mass
454 d1919-1934 450,000
1238_ _Mississippi Levee Dist., Miss
247,000
1025_ _Mobile, Ala
120,000
4
1025_ _Montpelier, Vt
72,000
1929
4
1178_ _Morrisville, Vt
12,000 101.308
1178_ _Morrow County, Ohio
434
10.000 100.13
950_ _Mt. Kisco, N. Y
434 1914-1933
75.000
434
1238_ _Mt. Oliver, Pa
5,000
1910-1919
4
1025__Mt. Pleasant, Mich
40,000 105.94
434 1936-1939
1101__Mt. Vernon, N Y
25,000 105.78
1929
434
1101__Mt. Vernon, N. Y
36,000 100
d1914-1929
5
1101_ _Nelson, Neb
12.000 104.91
21919-1943
6
1238_ _New Martinsville, W. Va
434 1929,'30&'31 12,500
950_ _New Rochelle, N. Y
3.000 100.333
1910-1915
5
D.No.10,N.Y.
S.
Scotland
1025__New
70,000 z100
1958
3
.238__New York City
45,500 105.559
1929
454
950__Ntagara Falls, N. Y
5,000 100
1919
434
1178_ _Nobles County, Minn
122,000 102.201
1910-1023
4
1101_ _North Attleborough, Mass
18,695 101.65
434 1910-1919
950._Norwood, Ohio
185,000 105.202
1934
5
1178_ _Oklahoma City, Okla
50,000
1934
1025_ _Oklahoma County, Okla
434
25,000 100
1919-1928
4
950._Olean, N. Y
25,300
1929
4
1101_0lean, N. Y
25.000
1910-1924
1101__Olean, N. Y
5
25,000
1238_ _Ottumwa Indep. S. D., Iowa_ 4
30,000 100
1238_ _Pacific Co. S. D. No. 32, Wash. 5
d1910-1929
25,000 100.04
1025_ _Painted Post, N. Y
434 1914-1938
20.000 102.56
1929
1026_ _Park City, Tenn. (2 issues).- 5
2,500 105.04
1917-1921
5
1102 Paxton Township, Ohio
13,000 100.036
950_ Penfield. N Y
434 1914-1928
2,600 100 •
d1910-1929
1238__Peniel'Indep. Sch. Dist., Tex_ 5
125,000 102.07
1924
1178_ Perth Amboy, N. J
434
2,000 102.089
1912-1916
5.
1026..Phillipsburg Sch. Dist., Ohio
3,000 100
1910-1912
5
1102_ Pine Island, Minn
384.100 106.904
1178_ _Pittsburgh, Pa
454
641,500 101.475
4
1178_ Pittsburgh, Pa.(4 issues)
12,000 103.175
1238..Plainville Spec. S. D. No. 7,0_ 434 1920&1930
2,000 103
1910-1912
1238_ _Pleasant Twp. S. D., Ohio__ _ _ 6
66,000
4
1238 Portland, Conn
160,523 Various
1102_ Portland, Ore
4 1914,'15& 21
12.000 100
1102_ Portsmouth, Ohio
334 d1910-1939
40,000 100
1239__Reading School District, Pa
4
P40,000
1919-1958
1178 Rye (Town), N Y
18,361
1178 St. ClaIrsville, Ohio (5 issues) _ 434
18,000 100.12
951_ _Saranac Lake, N. Y.(2 issues) _ 454
8,000
d1914-1949
1102_ _Seagoville Ind. Sch. Dist., Tex. 5
6,000 100
1919
1026_ _Shelley Sch. Dist. No.30, Ida_ 5
8,000 100.875
1911-1918
5
1102_ _Sherburne County, Minn
25,000
d1924-1939
1239_ South Greensburg, Pa
50,000
6
1934
1179_ _Spiro, Okla
1026_ _Springfield, Mass
354 1910-1949 600,000
1910-1919 200,000
4
1026_ _Springfield, Mass
100,000
4
1026_ _Springfield, Mass
$2,935
951 _Springfield, Ohio (4 issues) _ 5&434
800 100
1910-1911
5
1239_ _Spring Valley, N. Y
1103 _Stevens County, Wash
434 d1919-1929 200,000 100.59
12,000
6
1179_ _Suwanee County, Fla
17,000
1910-1912
1179 _Suwanee County, Fla
6
16,500 102.169
1026_ _Sycamore Special S. D., Ohio_ 434 1911-1927
35,000 101.52
192
4
1026 _Terre Haute, Ind
4% --------7,000 109.515
1179 _Trenton Sch Dist., Mich
0.000 9100
1920
5
1103 _Tripp, So Dak
1234
[VoL. Lxxxix.
THE CHRONICLE
Page.
Rate. Maturity.
Name.
d1919-1929
1026_ _Twin Falls, Idaho (2 issues) _ _ 5
4% d1914-1929
1180_ _Uehling, Neb
4
1939
1180...Union County, N. J
5
1103_ _Union County, Ohio
5
1917
1180.. Upper Sandusky, Ohio
1910-1929
1180_ _Utica, N Y
43
4% 1910-1929
1180__Utica, N Y
4% 1912-1929
1180_ _Utica, N Y
5
1240....Van Alstyne Sch. Dist., Tex
1925
1240_ _Vanderburgh County, Ind_ _ _ 33
5
1939
1026 __Waco, Tex. (4 issues)
5
1910-1914
1104_ _Wadsworth, Ohio (6 issues)
5
1920-1934
1027_ _Washoe County, Nev
5
1910-1919
1181_ _Wellington, Ohio
1181....West Unity, Ohio
4 % 1916-1921
4%
1027_ _White Plains, N Y
1917
1027_ _White Plains, N. Y.(2 issues) _ 5
1914
43
1104 _ _White Plains, N. Y
1104_ _Wilkes-Barre Sch. Dist., Pa_ _ 43
1913-1936
5
1104.. _Wilkinson County, Miss
d1914-1929
4
1027_ _Wilmington, Ohio
1911-1918
1104_ _Winchester, Va
4
1181_ _Winston, No, Caro
1940
43
4%
1181_ _Winston, No. Caro
1939
4
1104.. _Winthrop, Mass
1910-1919
5
952__Wood County, Ohio
1910-1914
5
102?...'Wood County, Ohio
1910-1914
952_ _Woodsfleld, Ohio (2 issues) _ 5
1910-1919
_Woodward
S.
D.
1104_
No. 1, Okla_ 5
1934
1240_ _Worland S. D. No. 34, Wyo_ _ 6
1914-1923
Amount.
Price.
40,000 100.343
7,000
70,000 101.005
40,000 103.357
5,000 106
20,000 103.14
80,000 103.14
18,000 103.311
12,500 100
80,000 100
212,500 107.40
26,770 101.296
150,000
10,000 104.63
1,800 101.555
33,000 102.362
27,000 103.157
25,000 100.17
500,000 102.761
4,500 100
10,000 100.413
50,000
100,0001
40,0005 100
40,000 101.64
50,000 102.052
50,000 102.088
4,085 y101.015
70,000 100.27
10,000 107.50
Total bond sales for October 1909 (222 municipalities
covering 300 separate issues)
k$15,627,909
a Average date of maturity. d Subject to call in and after the earlier
year and mature in the later year. k Not including $12,000,000 general
fund bonds of New York City nor $18,346,774 of temporary loans reported,
and which do not belong in the list. x Taken by sinking fund as an investment. y And other considerations.
BONDS OF AMERICAN POSSESSIONS.
Rate. Maturity. Amount.
3% d1914-1924 ;200,000
Page.
Name.
1235_ _Territory of Hawaii
Price.
98.25
MUNICIPALITIES.
Maturity. Amount. Price.
1910-1949 $10,000
970
1924
1,000
1910-1919
1939
8,000
1929
5,000
1919
3,300
1919
1,800
1910-1919
1,400 105.964
1910-1929
5,000 1 5%%
1 basis
1910-1919
1,400
1027_ _Flander(iale S.D.No.1774,Sask. 6
1910-1919
5,10654 11-16%
5
1241_ _Gosfleld North, Out
1 basis
20,000
1241_ _Grey County, Ont
1929
20,000
4%
1105_ _Guelph, Out
10,000
4%
1929
1105_ _Guelph, Ont
4%
1939
25,000
1105.. _ Guelph, Ont
1929
80,000
97.87
1027.. _Hamilton, Out. (2 issues).. ...... 4
53% 1910-1919
800
1027_ _Hanna S. D. No. 1946, Sask
1934
8,000
1181....Kamloops, B C
5
20,000
5%
1934
1181__Kamloops, B C
5
1919
10,000
1181_ _Kamloops, B C
1241.... Kamsack, Sask
1910-1924
5,000
1919
25,000
1181_ _Kenora, Out
5
1,770
1181_ _ Kenora, Ont
1929
55
33,400
1105..Kingston, Ont
4
800 100
1181_ _ Kolomyia S.D. No.1878, Sask- 6
3,000
1910-1929
1241_ _La Broquerle, Man
6
500
1241_ _Leslieville S.D. No.1977, Sask_
30,500
1939
4
954_ _London, Ont
5,000} 97.561
1939
4
954_ _London, Ont
5,000J
1939
4)
954_ _London, Ont
11,000 5% basis
4&4% Y'ly to '27
1241_ _Lucknow, Ont
3,000
5% 1910-1919
1241_ _Luxford Sch. Dist., Sask
1910-1924
3,000
97.062
5
1028_ _Manor, Sask
1949
150,000
97.60
1182_ _Montreal Cath. Sch. Dist., Que. 4
1910-1939
25,000 1 4Y,%
1242_ _Moose Jaw Sch. Dist., Sask_ _ _ 5
J basis
1910-1919
5
10.000
1105_ _Nelson, B C
8.468
98
1242_ New Liskeard, Ont
5,09414 9-16%
1910-1939
5
1242_ _Niagara Falls, Ont
1,3325 basis
1910-1919
5
1242_ _Niagara Falls, Ont
1,000
1242.. _ Northfield S. D. No.932,Sask_
12,214
1910-1929
43
1028_ _North Toronto, Ont
9,761
4) 1910-1939
1028_ _North Toronto, Out
1182_ _Orange Valley Sch. Dist. No.
1,500 104.133
1919
6
1952, Alta
4,429
1910-1919
1028_ _ Osgoode, Ont
5
60,000
1182_ _Pembroke, Out. (3 issues) _ - _ - - . ___ _____
25,000
1929
44.
1182_ _Peterboro, Ont
99
7,000
6
1242_ _Phoenix, B. C
1959
280,000 104.125
1242__Point Grey, B. C
5
800 100.125
1182_ _Salt Lake S. D. No. 2056, Sask. 5 g 1910-1919
5
68,250
1105_ _Saskatoon, Sask
1939
1028_ _Somerville S.D. No.1999,Alta_ 5% 1910-1910
1,200
5
1959
1182....South Vancouver, B. C
225,000
4Y
1939
1182_ _Sydney, N. S. (2 issues)
30,000
1028„United Counties of Prescott
5
13,000
1910-1924
and Russell, Out
1910-1924
1105_ _Unity, Sask
8,000
53
6
1910-1929
1,600
1242_ _Vonda, Sask
1910-1919
1,000
6
1242_ _Vonda, Sask
15,000
1910-1924
1242_ _Watrous, Sask
53
1,200 104.166
1919
1242_ _Winnitred S. D. No. 1924, Alta 6
800
1028.. _Woodlawn S.D. No.1987,Alta_ 5% 1910-1919
70,000 100.51
5
1028._Yorkton, Sask. (3 issues)
BONDS SOLD BY CANADIAN
Rate.
Name.
Page.
43
1241.. _ Berlin, Ont
5
1241_ _Bothwell, Ont
1027.. _Czernowitz S.D.No.2341, Sask. 53.
1181_ _District of Spallumcheen, B. C. 5
1181_ _District of Spallumcheen, B. C. _ _
1181_ _District of Spallumcheen, B. C. 5
1181_ _District of Spallumcheen, 13. C. 6
1027_ _Dobronoutz S.D.No.2368,Sask. 53
6
1027.. _ Enderby, B. C
$1,400,394
Total
REVISED TOTALS FOR PREVIOUS MONTHS.
The following items, included in our totals for previous
months, should be eliminated from the same. We give the
page number of the issue of our paper in which the reasons
for these eliminations may be found:
Page.
Name of Municipality.
1235_ _Alva, Okla. (3 issues, May list)
1022Hamilton County, Tenn. (May list)
1025--Montgomery, Ala. (August list)
1178 _St. Francis Levee District, Ark. (August list)
1180.. _Union County, N. J. (July list)
Amount.
$40,000
150,000
50,000
325,000
100,000
Rate. Maturity. Amount.
Name.
,Price.
Page.
1177_ _East Livermore Water Dist.,
4
1929
Me. (March and April)
97,000
1237_ _Greenwood S. D. No. 1, Mo.... 43 d1914-1919
7,300 100
1177_ _ Harris County Drainage Dist.
No. 2, Tex. (May)
165,000 100
5
1910-1919
5
8,000 100.95
1177 Huntley S. D. No. 85, Ill
1910-1919
21,000 103.866
5
1100 Kent, Ohio
2,856,000
1025 _Los Angeles, Cal. (May)
43
2,856,000
1025 _Los Angeles, Cal
4)
8,035 103.95
1101.._ Loudonville, Ohio
4% 1910-1919
20,000 100.405
1178 McKinley S. D. No. 18, Minn_ 5
1025_ _Mechanicsburg, Pa
6,000 101.311
4
dl923-1938
1025 Mechanicsburg, Pa
3,000
4
1026 _Seattle, Wash. (15 issues)..
106,675
7
1914
1102 _Silvis, Ill. (July)
10,000 101.05
5
1910-1919
1103..Tallahatchie Dr. Dist., Miss
6
(11919-1939
500,000 y100
1103 __Tarboro Sch. Dist., No. Caro_ 5
1939
35,000 102.61
1179_ _Tomah, Wis. (August)
1911-1914
7,467 100
5
All the above sales (except as indicated) are for September.
These additional September issues will make the total sales
(not including temporary loans) for that month $19,799,879.
News Items.
Boston, Mass.-New Plan of City Government.-At last
Tuesday's election there were 74,481 votes cast on the alternate plans for city government provided in the new City
Charter as passed by the last Legislature. The plan which
was adopted, having received 39,175 votes,is known as No. 2,
and by providing that all municipal nominations shall be
made only upon petition of at least 5,000 voters, eliminates
all party designations. The plan just adopted provides for
an amendment to the Charter under which the Mayor is to
be elected for four years subject to recall after two years in
the following manner: At the State election in the second
year of the Mayor's term there shall be printed on the ballot
the question "shall there be an election for Mayor at the next
municipal election." In the event of this question being
answered in the affirmative by a majority of the voters
registered for said election, there shall be an election for
Mayor at the municipal election in January next following.
At such an election the name of the Mayor then holding office
will be placed on the balolt without nomination unless he
requests otherwise. If prior to Oct. 1 in the second year
of his term the Mayor gives notice that he does not desire the
recall provision placed on the ballot at the State election, his
term of office shall expire on the first Monday of February
following. The City Council is to consist of nine members, the
three candidates receiving the largest number of votes to hold
office for three years, the three polling the next largest vote
to hold office for two years and the three with the next largest
for one year. Thereafter at each annual municipal election
three members shall be elected,each to hold office for three
years. The next city election, when the Mayor and Councilmen to hold office under the amended charter will be elected,
is to be held Jan. 11.
By Plan No. 1,which was defeated, it was proposed to make
the term of Mayor two years; the City Council to consist
of one member from each ward (except wards twenty and
twenty-four, which were to have two each) nominated in
primaries and elected for two-year terms, and nine members
elected at large for three-year terms; nominations for school
committee, mayor and councilmen-at-large to be made by
independent nominations and by delegates elected by the
voters in the primaries.
New York City.-Budget far 1910.-On Oct. 29 the
Board of Estimate and Apportionment finally adopted the
budget for 1910. The aggregate is fixed at $163,130,270, as
against $156,545,148 for the current year, an increase of
$6,585,122. Important among the mandatory increases in
the budget are as follows:
Education, salaries_ __ $273,963 07
236,207 59
Police, salaries
83,600 00
Fire, salaries
51,100 00
Municipal courts
39,920 00
Board of Elections_ _
Census Board
24,550 00
16,600 00
City Magistrates' Court
6,000 00
Court of General Sessions
2,000 00
City Court
Other increases are:
Additional allowances
for tuberculosis work
In Health Department,
Bellevue and Allied
Hospitals and Department of Education__ $263,500 00
For additional teachers,
Department of Education
800,000 00
Department of Public
Charities
176,606 50
Manhattan Bridge No.
78,766 30
4 (new)
.
Street Cleaning Depart113,280 00
ment(added force)_ _
Police Pension Fund_ ;200,000 00
Deficiency in taxes......1,077,552 92
Department Docks and
kerries
2,821,932 00
Supreme Courts, Appellate Divisions and
159,250 00
county offices
$4,992,675 58
Public libraries
Increase, Water Registration _ _
water system,
New
Richmond
High Pressure Fire
Service _ _
Lamps and lighting_ _ _
Rents _ _
Tenement House Department
County miscellaneous_
$64,490 00
93,000 00
192,000 00
34,000 00
135,000 00
117,312 75
20,382 50
70,000 00
$2,158,338 05
Principal reductions:
Debt service
City Record
$779,382 61
89,000 00
$868,382 61
Oshkosh, Winnebago County, Wis.-Issuance of School
Bonds Enjoined.-Milwaukee papers state that Judge G. W.
We have also learned of the following additional sales for Burnell of the Circuit Court issued a temporary injunction
previous months:
on Oct. 25 restraining the issuance of $50,000 bonds for the
Page.
Name.
Rate. Maturity. Amount. Price. Orville Beach Memorial Manual Training School. An
1097Ashland, Ore
6
$15,000 101.10
ordinance providing for the issue was recently passed by
1097_ _ Ashland, Ore
5
, 5,000 100
1913
1098_ _ Belpassi Sch. Dist., Cal
6,000 103.916 Council and signed by the Mayor.
5
1914-1919
2,500 100.20
946_ _Casstown Sch. Dist., Ohio_ _ _ _ 4 % 1911-1915
New York State.-Death of Comptroller.-State Comp4%
4,000
1098_ _Cheboygan, Mich
1929
6
4,500 102.49
1176_ _Conrad Sch. Dist., Mont
d1924-1929
troller, Charles II. Gaus, died Sunday morning, Oct. 31.
1099_ _Corning Union Free Sch. Dist.
5 1947,'48&'49
No. 13, N Y
4,500 110.244 While on a hunting trip in the Canadian woods Mr. Gaus
16,000
d1929-1939
1236. _Corsicana S. D., Tex.(August) 5
contracted a cold, which developed into bronchitis and then
4
1024__Crafton, Pa. (August)
35,000 100
pneumonia, which caused death.
4
1919-1929
75,000 100
1024-Decatur, Ill
THE CHRONICLE
Nov. 6 1906
Territory of Hawaii.-Bond Sale.-The Bank of Hawaii,
Ltd., purchased $200,000 33'% 5-15-year (optional) publicimprovement bonds on Oct. 1 at 98.25. The bonds are in
denominations of $1,000 each and are dated Oct. 1 1909.
Interest is payable semi-annually.
Valdez, Alaska.-Bonds Not to be Sold This Year.-We
are informed that the present Council has voted to take no
action during their term, which expires April 10 1910,
looking towards the sale of the $15,000 6% 10-year municipalimprovement bonds described in V. 89, p. 424.
Bond Proposals and Nedotlations this week
Wive bean as follows:
Alameda, Cal.-Bond Election.-This city proposes holding
an election in the near future, it is stated, for the purpose of
submitting to the voters the question of issuing $200,000
school, $30,000 sewer and $10,000 salt-water-system bonds.
Alexandria, Va.-Bonds Awarded in Part.-Of an issue of
$745,000 4% coupon or registered refunding bonds,$647,000
had been disposed of up to Oct. 28. Of this amount $44,000
was sold at par and the remainder ($603,000) exchanged for
bonds of 1879.
Denominations $100, $500 and $1,000.
semi-annual. Maturity July 1 1938.
Date July 1 1909.
1235
Bayou Terre-Aux-Boeufs Drainage District, St. Bernard
Parish, La.-Bond Offering.-Proposals will be received until 11 a. in. Nov. 24 for $60,000 bonds. Maturity July 1
1949, subject to call in numerical order after Feb. 11919.
C. Verret is President of the Board of Commissioners.
Belvidere, Boone County, Ill.-Bonds Defeated.-The election held Nov. 2 resulted in the defeat of the propositions
to issue the $14,000 water-works and $20,000 general expense
5% bonds described in V. 89, p. 1176. The vote was 320
"for" to 736 "against."
Benoit, Bolivar County, Miss.-Bid Rejected.-The only
offer received on Nov. 2 for the $10,000 5% 20-year gold
coupon water-works bonds described in V. 89, p. 1176, was
one of par less $500 for 6s, submitted by S. A. Kean & 0o.
of Chicago. This bid was rejected.
Berkshire County (P. 0. Pittsfield), Mass.-Note Sale.The $35,000 4% coupon notes offered on Nov.3and described
in V. 89, p. 1098, were awarded on that day to Blodget, Merritt & Co. of Boston, at 101.263 and accrued interest. Maturity on Nov. 1 as follows: $5,000 in 1911 and $10,000
yearly from 1912 to 1914 inclusive.
Following is a list of the bids received:
Interest
Alhambra School District, Los Angeles County, Cal.Bond Election.-Reports state that the question of issuing
$50,000 bonds will be submitted to a vote of the people on
Nov. 15.
Alliance, Starke County, Ohio.-Bond Offering.-Proposals will be received until 12 in. Nov. 8 by Chas. 0. Silver,
City Auditor, for the following bonds:
$135,000 4% sewage-disposal bonds. Denominations $500 and $1,000.
Date Dec. 15 1909. Maturity $27,000 yearly from 1929 to
1934 inclusive.
7,000 5% street-improvement assessment bonds. Denomination $500.
Date Dec. 11909. Maturity $1,400 yearly from 1910 to 1914
inclusive.
Interest semi-annually at City Treasurer's office. Certified check on a
national or State bank for 5% of bonds bid for, payable to the City Treasurer,
is required. Purchaser to furnish blank bonds at his own expense. Bids
must be made on forms furnished by city.
Bond Sale.-The Sinking Fund of this city has purchased
•
the following bonds:
$13,000 (city's portion) paving bonds. Maturity Dec. 31 1929.
7,000 over-head crossing bonds. Maturity Dec. 31 1930.
19,000 subway bonds. Maturity Dec. 31 1931.
31,000 subway bonds. Maturity Dec. 31 1933.
Bonds are dated Dec. 31 1909.
Alva, Woods County, Okla.-Bonds Not Sold.-No sale
has yet been made of the $8,000 reservoir $22,000 waterservice-extension and $30,000 city-building 5% 25-year
coupon bonds offered on Sept. 28 and described in V. 89, p.
795. These secuirities take the place of the $40,000 bonds
awarded on May 20 to George I. Gilbert of Oklahoma City.
(See V. 88, p. 1453). We are informed that on a petition
signed by the largest taxpayers the total of the issues was
raised to $60,000. This amount was ratified by the voters
at an election held July 27.
Archbold, Fulton County, Ohio.-Bonds Defeated.-We
see it reported that a proposition to issue $15,000 sewer bonds
was voted down at the election held Nov. 2.
Archer County(P.0. Archer City),Tex.-Bond Offering.Proposals will be received until 4 p. m. Nov. 15 by R. S.
Morrison, County Attorney, for the $20,000 4% coupon
jail-building bonds voted (V. 89, p. 1634) on June 5.
Authority Article 877, Revised Statutes. Denomination $1,000. Date
Aug. 10 1909. Interest on April 10 at the County Treasurer's office.
Maturity August 10 1949, subject to call after 5 years. Bonds are exempt
from all taxes. Certified check for $500, payable to the County Attorney,
is required. It was originally proposed to offer this issue on Dec. 1, but
the arrangements for building the jail developed faster than had been
expected and the date was changed to Nov. 15.
Biodget, Merritt & Co., Bos_101.263 Merrill, Oldham & Co., Bos_100.679
101.032 Blake Bros. & Co. Boston_100.55
Adams & Co., Boston
R. L. Day & Co., Boston..__ A00.697 E.M.Farnsworth de Co., Bos_100.53
Bernalillo County (P. 0. Albuquerque), N. Mex.-Bond
Sale.-The $100,000 bridge-building bonds offered on Oct. 25
(V. 89, p. 1098) were awarded on that day to the State
National Bank of Albuquerque at par for Wis. A list of
the bids received follows:
State National Bank, Albuquerque (4 Xs)
Harris Trust d: Savings Bank, Chicago (45s)
Security Trust Co., Detroit l Ms
5s
Well, Roth & Co., Cincinnati14 Ms
15s
E. H. Rollins & Sons, Chicago f4s
15s
Coffin & Crawford, Chicago (4 5is)
Cincinnati (4 hs)
Provident Savings Bank & Trust
5ps
or4
for
Co.,
Scasongood & Mayer, Cincinnati if
$100,000 00
102,170 00
101,750 00
105,000 00
101,265 00
107,575 00
100,855 00
104,855 00
100,687 00
100,635 00
100,555 00
103,55r,00
100,2ft 00
Field, Longstreth & Co., Cincinnati(4
103,590 00
15s
102,010 50
Farson, Son & Co., Chicago (for 5s)
102,000 00
Otis & Hough, Cleveland (for 5s)
101,025 00
A. J. Hood & Co., Detroit (for 55)
Denomination $1,000. Date Jan. 2 1910. Interest semi-annual.
Maturity Jan. 2 1940, subject to call after 10 years.
Berrien Springs School District (P. 0. Berrien Springs),
Berrien County, Mich.-Bond Sale.-The $5,000 coupon
school bonds proposals for which were asked until Oct. 27
(V. 89, p. 1098) were sold to the Berrien Springs State Bank
of Berrien Springs at 102.
Beverly, Mass.-Bond Sale.-E. M. Farnsworth & CO.
of Boston were the successful bidders for $16,000 4% 1-8year (serial) public-library-site-purchase bonds offered on
Nov. 3. They paid 101.53-an interest basis of about
3.629%. Denomination $1,000. Date Oct. 1 1909. Interest semi-annual.
Big Stone Gap, Wise County, Va.-Bonds Voted.-The
propositions to issue the $4,000 town-hall and jail, $4,000
sewer and $22,000 street and sidewalk 30-year bonds mentioned in V. 89, p. 1023, carried at the election held Oct. 26
by a vote of 146 'for" to 45 "against."
Bismarck,N. Dak.-Price Paid for Bonds.-The price paid
for the $5,000 4% 10-year crosswalk-construction bonds
awarded on Sept. 13 to the State of North Dakota (V. 89,
p. 737) was par. Denomination $500. Date Nov. 1 1909.
Interest annual.
Bloomington, McLean County, Ill.-Bids.-The following
bids were received for the $50,000 4% 10-20-year (optional)
coupon water-works-improvement bonds awarded on Oct. 29
to N. W. Halsey & Co. of Chicago at par and $50 accrued
interest less $472 35. (V. 89, p. 1176):
Ardmore, Okla.-Bonds Voted.-Reports state that this
place has voted to issue bonds for the extension of waterPar less
Par less
Harris Tr. & Say. Bk., Chicago. $490 A. B. Leach & Co., Chicago_ _ _$1,460
mains, storm sewers and sanitary sewers.
S. A. Kean & Co., Chicago_ _ _ _ 500 A. G. Edwards & Sons, St.
1.949
Argo School District, Titus County, Tex.-Bonds Voted.- Am. Tr. & Say. Bk., Chicago__ 985 Louis
This district on Oct. 28 authorized the issuance of school Thos. J. Bolger Co., Chicago__ 998 Bert, Clark dc Co., Chicago_ _ _ 2,748
Blue Bench Irrigation District No. 1 (P. 0. Theodore),
building bonds.
Wasatch County, Utah.-Bonds Not Sold.-Up to Oct. 26
Ashland, Ashland County, Ohio.-Bond Offering.-Pro- no
award had been made of an issue of $125,000 6% gold
posals will be received until 12 m. Nov. 8 by Edgar Koehl,
on Sept. 10.
Village Clerk, for $5,600 5% coupon Second Street im- coupon irrigation-works bonds offered
Authority Chapter 74, Session Laws of 1909. Denomination $500.
provement bonds.
Date "day of issue." Interest in June and Dec. at the County Treasurer's
Authority Section 2835, Revised Statutes. Denomination $280. Date
Nov. 1 1909. Interest in March and Sept. at the First National Bank of
Ashland. Maturity $280 each six months from Sept. 1 1910 to March 1
1920 inclusive. Certified check for $280, payable to E. Shoemaker, Village
Treasurer, is required. Purchaser to pay accrued interest.
office or at a bank in New York. Maturity 10 to 20 years. Bonds are
exempt from taxes. The District Secretary writes that the bonds are
secured by all the land in the boundaries of the district, embracing 9,440
acres. The proceeds of the sale will be used for the construction of a
canal at an estimated cost of $10 per acre to irrigate said land,thereby
enhancing its value to $100 per acre. Interest and principal are provided
for under the law by assessments by the County Assessor and collections and
payments by the County Treasurer. Bids to be no less than 95% of the
face value of the bonds bid for.
Ballston Spa, Saratoga County, N. Y.-Bond Sale.-On
Oct. 30 Thos. Kesly of Ballston Spa was awarded the
following 4 2% bonds at 100.057: $7,000 water bonds due
Boone County (P. 0. Lebanon), Ind.-Bond Offering.$500 yearly on Nov. 1 from 1910 to 1923 inclusive, $2,000
water-works bonds due $500 yearly on Dec. 1 from 1910 to Further details are at hand relative to the offering on Nov.15
1913 inclusive and $500 sewer and judgment bonds due of the $200,000 33% coupon court-house building bonds
mentioned in V. 89, p. 1098. Proposals will be received
Jan. 1 1915. A list of the bids received follows:
$9,502 85 until 11 a. m. on that day by B. F. Herdrick, County AudiThos. Kesly, Ballston Spa_ $9,505 50 Geo. M. Hahn, N Y
9,504 20 Ballston Spa Nat.Bank,
tor.
.John J. Hart, Albany
Ballston Spa
See V. 89, p. 1176 for description of bonds.
9,500 00
Bayonne, Hudson County, N. J.-Bids.-The following
bids were received on, Oct. 21 for the $60,500 41 9% 20-year
school bonds awarded on that day to R. M. Grant & Co. of
New York City (V. 89, p. 1097):
102.93(A. B. Leach & Co., N. Y__ _102.53
R. M. Grant & Co., N Y
Mechanics' Tr. Co., Bayonne_102.83 l H. L. Crawford & Co., N. Y _101.432
Denomination $1,000. Date Nov. 15 1909. Interest semi-annually at
the First National Bank of Lebanon. Maturity $10,000 each six months
from May 15 1911 to Nov. 15 1920, inclusive. All blanks necessary for
bidders can be obtained upon applying to County Auditor. The county
has no debt at present. Assessed valuation' 1909 522,295,165.
Bourret Township (P. 0. Gladwin), Gladwin County,
Mich.-Bond Offering.-Proposals will be received until 3
p. m. Nov. 11 for $3,500 5% road bonds.
1,236
THE CHRONICLE
Authority vote of 27 "for" to 9 "against" at election held Oct. 18 1909.
Maturity 15 years. Amos W. Weaver is Township Clerk.
Bradley Beach School District (P. 0. Bradley Beach),
Monmouth County, N. J.-Bond Offering Postponed.-The
offering of the $85,000 5% coupon building bonds, which
was to have taken place on Oct. 27, was postponed until 8
p. m. Nov. 11. The bids received on the former date were
not opened. Bonds are tax-exempt. Maturity 20 years.
Certified check for $2,450,payable to the Board of Education,
is required.
Branchville, Sussex County, N. J.-Bonds Awarded in
Part.-Of the $30,000 43% 30-year gold coupon waterworks bonds described in V.89, p. 946, $10,000 were disposed
of on Oct. 21 to local investors at 102.13125 and accrued interest-a basis of about 4.373%. The bonds are in denominations of $500.
Mass.-Bond Award.-The four issues of bonds,
Brookline,$302,000, bids for which were opened on Oct. 28
aggregating
(V. 89, p. 1176), have been awarded, it is stated, to Estabrook & Co. of Boston. Reports further state that all the
original offers were rejected.
Cache River Drainage District No. 1, Ark.-Bond Sale.Dispatches state that this district has awarded an issue of
$60,000 bonds to Hoehler & Cummings of Toledo, Ohio.
Caldwell, Canyon County, Idaho.-Bond Sale.-On
Oct. 25 S. A. Kean & Co. of Chicago bought the $36,059 78
5% 10-20-year (optional) coupon funding and paving bonds
described in V. 89, p. 1023, at 100.119 and accrued interest.
Following are the bids:
S. A. Kean ec Co., Chicago$36,103 05 Tilden & Co
John Nuveen dc Co., Chic_ 36,059 781
a$10,031
a For the funding bonds.
Caldwell, Sumner County, Kans.-Bond Sale.-On Oct. 27
the $30,000 432% 20-year coupon water and light-improvement bonds mentioned in V. 89, p. 1098, were awarded to
E. H. Rollins & Sons of Chicago at par and accrued interest.
California, Moniteau County, Mo.-Bond Sale.-On
Nov. 1 the $30,000 5% 10-20-year (optional) water-works
bonds described in V. 89, p. 1176, were awarded to Little&
Hays Investment Co. of St. Louis at 103.46 and accrued
interest. The following bids were received:
A. G. Edwards & Sons,
Little & Hays Invest. Co.,
$31,0261 St. Louis
$30,333
St. Louis
29,700
Harris Tr. & Say. Bk., Chic_ 30,984 S. A. Kean & Co., Chicago
Camden City, N. J.-Bonds Not Sold.-No bids were received on Oct. 25 for the $60,000 4% 20-year dock and wharf
bonds described in V. 89, p. 1023.
Carbon County (P. 0. Price), Utah.-Bond Sale.-The
Harris Trust & Savings Bank of Chicago has purchased
$40,000 5% bonds due May 1 1929.
Ohewelah Drainage District No. 2 (P. 0. Chewelah),
Stevens County, Wash.-Bond Sale.-An issue of $76,000
6% 5 and 10-year bonds was recently disposed of, it is
stated, to Foley & Gleason of Minneapolis.
Chicago Sanitary District, Ill.-Bond Offering.-Proposals
will be received until 1 p. m. Nov. 24 by I. J. Bryan, District
.Clerk, at Room 1500, American Trust Building, in Chicago,
for $2,500,000 4% coupon bonds.
Denomination $1,000. Date Dec. 1 1909. Interest semi-annually at
the District Treasurer's office. Maturity $250,000 on Dec. 1 1911 and
$125,000 yearly on Dec. 1 from 1912 to 1929 inclusive. Certified check or
cash for 5% of bid, drawn on some bank in Chicago,and made payable to
the "Clerk of The Sanitary District of Chicago," is required. The bonds
will be delivered $1,500,000 on Dec. 1 1909 and $1,000,000 on Dec. 1 1909
or not later than Jan. 2 1910, at the option of the purchaser. Accrued
Interest, if any, to be paid by the successful bidder.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Cleveland, Ohio.-Bonds Defeated.-The election held
Nov. 2 (V. 89, p. 946) resulted in the defeat of the proposition to issue $150,000 fire-station bonds. The vote was
42,328 "for" to 31,322 "against," a two-thirds majority
being necessary to authorize the issue.
Coleraine, Itasca County, Minn.-Bond Sale.-The
$40,000 5% jail, village-hall and fire-hall bonds described in
V. 89, p. 1023, were sold on Oct. 27 to Coffin & Crawford of
Chicago at 100.75 and accrued interest. Following are the
bids:
Coffin & Crawford, Chicago_$40,300 Commercial Investment Co.,
Duluth
b par
S. A. Kean & Co., Chicago__ 40,040
a par Thos.J. Bolger Co., Chicago.. c par
M. H. Mattison
a less $1,000. b less $2,000. c less $2,500.
Maturity $2,000 yearly from 1911 to 1919 inclusive and $22,000 in 1929,
bonds unpaid after 1919 being subject to call.
VOL. Lxxxix.
from 1914 to 1919 inclusive. Certified check for 5% of bonds bid for,
payable to the Village Treasurer, is required. Purchaser to pay accrued
Interest.
Cuyahoga County (P. 0. Cleveland),.0hio.-Bond Sale.Reports state that the two issues of 43% coupon Warner
Road improvement bonds described in V. 89. p. 1176, were
disposed of on Nov. 3 to the First National Bank of Cleveland
as follows:
$25,236 (county's portion) bonds awarded for $25,763-the price thus
being 102.088. Maturity part each six months from April 1 1910
to Oct. 1 1919 inclusive.
6,500 Assessment bonds awarded for $6,637-price thus being 102.107.
Maturity part yearly on Oct. 1 from 1910 to 1919 inclusive.
Dallas County Common School District No. 76, Tex.
Bonds Registered.-The State Comptroller registered $4,000
5% 10-20-year (optional) bonds on Oct. 26.
Dawson County School District No. 13, Mont.-Bonds
Readvertised.-Proposals were asked for until Sept. 11 for
$1,000 10-year coupon school-building bonds. These are the
same securities that were sold on July 20 to H. B. Palmer &
Co. of Helena at par for 6s. V.89, p. 301. We are informed
that the bonds were purchased with the understanding that
they would be re-advertised as 6s.
Douglas, Converse County, Wyo.-Bond Sale.-The
$5,000 5% refunding water bonds mentioned in V. 89,
p. 1024, were sold Nov. 1 to Martha B. Sears at 103.50.
Denomination $1,000. Date Oct. 1 1909. Interest semi-annual.
turity Oct. 1 1939, subject to call after Oct. 1 1919.
Ma-
Dublin, Erath County,Texas.-Bonds Voted.-An election
held Oct. 26 resulted in favor ,pf a proposition to issue $20,000
5% 10-40-year (optional) sewer bonds. The vote was
92 "for" to 65 "against."
Duval County (P. 0. Jacksonville), Fla.-Official Vote on
Road and Bridge Bonds.-We are advised that the official
vote on the $1,000,000 5% 30-year coupon road and bridge
bonds voted, authorized at the election held Oct. 26 (V.89,
p. 1177), was 1,125 "for" to 366 "against". They will be
dated Dec. 1 1909 and not more than $250,000 will be issued
in any one year.
Dyersburg, Dyer County, Tenn.-Bond Sale.-Schoolbuilding 6% bonds to the amount of $15,000 have been sold.
They are dated May 1 1909 and mature $3,000 yearly.
East Cleveland School District (P. 0. East Cleveland),
Cuyahoga County, Ohio.-Bonds Voted.-The $100,000
school bonds mentioned in V. 89, p. 1177, were favorably
voted at an election held Nov. 2. The bonds received a
vote of 714 "for" to 264 "against." Details of bonds and
date of sale not yet decided.
East Orange, N. J.-Bond Ordinance Vetoed.-An ordinance providing for the issuance of $18,500 bonds was vetoed by the Mayor on Oct. 25.
East Rutherford School District (P. 0. Rutherford),
Bergen County, N. J.-Bond Sale.-The $16,000 432%
coupon school-building bonds, bids for which were rejected
on Aug. 26 (V. 89, p. 613), have been disposed of at private
sale. Maturity part yearly from 1913 to 1920 inclusive.
Eden (P. 0. Bar Harbor), Hancock County, Me.-Bond
Sale.-An issue of $30,000 school bonds, due $5,000 yearly
on Sept. 10 from 1916 to 1921 inclusive, has been sold.
Interest payable in Bar Harbor.
Freedom, Beaver County, Pa.-Bonds Defeated.-The
voters of this town on Nov. 2 defeated, it is stated, a proposition to issue $30,000 school-building and site-purchase
bonds.
Galveston County (P.0.Galveston), Tex.-Vote.-We are
informed that the proposition to issue the $500,000 5% road
bonds mentioned in V. 89, p. 1099, carried by a vote of 826
"for" to 124 "against" at the election held Oct. 12,
Bonds To Be Offered at Private Sale.-The $500,000 4%
10-40-year (optional) causeway-bridge bonds registered by
the State Comptroller on Aug. 13 (V. 89, p. 487) will be
offered at private sale.
Glasgow, Howard County, Mo.-Bond Sale.-The Wm.
R. Compton Co. of St. Louis has purchased the $30,000 5%
coupon water-works, electric-light and sewer bonds recently
voted.
Authority Sections 6274-5-6-7 and 8, Laws of 1899. Denomination
$500. Interest semi-annually at the Merchants'-Laciede National Bank
in St. Louis. Maturity 20 years, subject to call, however, as follows:
after 5 years, $2.000 sewer; $4,400 electric and $8,500 water; after 10
years, $1,000 sewer, $2,500 electric and $4,500 water, and after 15 years,
$1,000 sewer, $2,000 electric and 84.000 water. The city has no bonded
debt at present. Floating debt $2,000. Assessed valuation 1908 $756,300.
Glynn County (P. 0. Brunswick), Ga.-Bond Election
Postponed.-An election which was to have taken place
Oct. 28 to vote on the question of issuing $50,000 5% road
and bridge bonds was postponed, as the United States
Government refused to approve the plans for a bridge across
the Altamaha River as submitted by the architect.
Greeley-Poudre Irrigation District, Weld County, Colo.Bond Offering.-Proposals will be received until 10 a. m.
Nov. 15 by F. M. Eastlack, Secretary Board of Directors,
Room 12, First National Bank Building, Greeley, for the
$5,100,000 6% coupon bonds voted (V. 89, p. 1024) on
Oct. 4 for the construction of a system of irrigation-works
and the purchase of water rights.
Corsicana School District (P. 0. Corsicana), Navarro
County, Tex.-Bond Sale.-An issue of $16,000 5% 20-30year (optional) school-building bonds was bought by the
Texas Trust Co. of Houston on Aug. 10. Denomination
$100. Date April 10 1910. Interest annual. See Navarro
County Common School District in V. 89, p. 1178.
Creek County (P. 0. Sapulpa), Okla.-Bonds Voted.Early returns indicate that an election held Oct. 26 to vote
upon the question of issuing $200,000 bridge-construction
bonds carried by a large majority.
Orestline, Crawford County, Ohio.-Bond Offering.Authority Act of General Assembly approved May 3 1905. DenominaTreasurer's
Proposals will be received until 12 m. Nov. 8 by L. J. Lind- tion $500. Date Dec. 1 1909. Interest annually at the County
office.
Maturity from 11 to 20 years. The district has no debt at present.
sey, Village Clerk, for $6,000 43/2% water-works-pumping- The proceeds
of the issue will be used to irrivate a district of 125,000 acres,
which, it is expected, will have a value of $100 per acre when irrigated.
station bonds.
Authority Section 2835, Revised Statutes. Denomination $500. Date
sept. 1 1909. Interest semi-annual. Maturity $1,000 yearly on Sept. 1
The selling price of the bonds Is limited by statute to not less than 95%
of their face value.
Nov. 61909.1
THE CHRONICLE
1237
Kalispell School District No. 20(P.0. Kalispell), Flathead
Greenwood School District No. 1 (P. 0. Greenwood),
of $1,200 6% 10-year
Jackson County, Mo.-Bond Sale.-The $7,500 5-10-year County, Mont.-Bond Sale.-An issueOct. 23 to the Union
on
(optional) coupon school-house bonds described in V. 89, p. school-building bonds was sold par.
Purchaser to furnish
948, were sold on Sept. 27 to the Mississippi Valley Trust Co. Bank & Trust Co. of Helena at
the
bids:
are
Following
blank
bonds.
Interest
1909.
1
Sept.
Date
JAs.
4
of St. Louis at par for
par
Union Bank & Tr. Co., Helena__apar I Benwell & Steel, Denver
semi-annual.
cpar
Seattle Tr. & Title Co., Seattle_ _bpar C. H. Coffin, Chicago
held
election
Hackensack, N. J.-Bonds Defeated.-An
a Also furnish blank bonds. b And accrued Interest. c Less a disOct. 20 resulted in the defeat of a proposition to issue count of $75.
Interest annually in October.
$285,000 high-school bonds.
Kelso, Cowlitz County, Wash.-Price Paid for Bonds.Hagerman, Chaves County, N. Mex.-Description of
Bonds.-We are advised that the $25,000 6% 20-30-year The price offered by S. A. Kean & Co. of Chicago for the
(optional) water-works bonds awarded on Oct. 13 to John $25,000 5% gold registered city-hall and park bonds awarded
Nuveen & Co. of Chicago (V. 89, p. 1100) are in denomina- them on Oct. 5 (V. 89, p. 1024) was 98. A bid at 95 was
tion of $1,000. Interest semi-annual. Reports state that also received from Morris Bros. of Portland.
Kenesaw,Adams County, Neb.-Bonds Voted.-According
the price paid was 104.
Hancock School District (P. 0. Hancock), Houghton to reports, this place has voted to issue water bonds.
Kenosha, Kenosha County, Wis.-Bond Sale.-On Nov. 1
County, Mich.-Bonds Voted and Sold.-An election held
Oct. 29 resulted in a vote of 52 "for" to 1 "against" the issu- the $50,000 4% coupon school bonds described in V. 89, p.
been
have
ance of $20,000 school bonds. The securities
1177, were awarded to the First National Bank of Kenosha
sold to local banks.
at par. The bids were as follows:
n, McLean & Moore.
Harris County (P.0. Houston), Tex.-Bonds Registered.- First Nat. Bank, Kenosha__ _$50,0001Woodi
$49,015
Chicago
Trust & Savings Bank,
The $500,000 4% 10-40-year (optional) road and bridge Harris
49,375 S. A. Kean & Co:. Chicago__ 48.550
Chicago
Maturity part yearly from 1910 to 1919 inclusive.
bonds, bids for which were rejected on Oct. 11 (V. 89, p.
1100), were registered by the State Comptroller on Oct. 18.
Kent, Portage County, Ohio.-Bond Sale.-Assessments
Hemingsford, Boxbutte County, Neb.-Bonds Not Sold.- paid in cash prior to the sale of the $21,000 5% 1-10-year
(serial) street-improvement bonds offered on Sept. 28 reNo sale was made of $10,000 6% bonds offered on Oct. 19.
issue to $17,066 87. Of this amount $15,000 was
Hemphill County (P. 0. Canadian), Tex.-Bonds Voted.- duced theon
Oct. 5 to Hayden, Miller & Co. of Cleveland.
awarded
purposes.
school
for
bonds
issue
to
voted
has
county
This
Sinking Fund will take two bonds maturing on Sept. 1
The
in
market
the
on
placed
be
will
they
that
informed
are
We
1914 and Sept. 1 1915 and the fractional balance of the issue
the near future.
will be taken care of by the city. For a description of bonds,
-Bonds
Tex.
1,
No.
District
Hidalgo County Drainage
V. 89, p. 796.
see
bonds
(optional)
ar
20-40-ye
5%
Registered.-The $176,000
Nassau County, N. Y.-Bonds Voted.-An
Lawrence,
State
the
by
registered
were
57,
mentioned in V. 89, p.
election held Oct. 25 resulted in favor of a proposition to
Comptroller on Oct. 19.
issue $50,000 bonds for road and drainage purposes.
Hollywood, Los Angeles County, Cal.-Bond Election.Lawrence County (P. 0. Ironton), Ohio.-Bond Sale.It is rumored that a $30,000 bond election will be held
The $50,000 4% coupon turnpike bonds described in V. 89,
Nov. 22.
p. 1025, were disposed of on Nov. 2 as follows: $30,000 to
Hugo, Choctaw County, Okla.-Bond Offering.-Pro- Breed & Harrison of Cincinnati at 100.222, $15,000 to C. B.
sower,
$75,000
7
for
Dec.
m.
p.
posals will be received until 7
Egerton at 101.533 and $5,000 to Charlotte Castner at 100.50.
$35,000 water-works extension and $20,000 city-hall bonds. Purchasers to pay accrued interest. The other bidders were:
Treasurer.
City
J. H. Jackson is
I Seasongood & Mayer, Cin___$50,035
Central Trust & Safe Deposit
$50,055i Well, Roth & Co., Cincinnati.a50,000
Co.. Cincinnati
Humboldt, Gibson County, Tenn.-Bond Voted.-An eleca
of
tion held here recently, it is stated, resulted in favor
a less a bonus of $150.
Maturity $5,000 each six months from March 1 1929 to Sept. 1 1933
proposition to issue $30,000 street-improvement bonds.
Inclusive.
Indiana.-Bond Sales.-J. F. Wild & Co. of Indianapolis
Lawton, Okla.-Bond Election Proposed.-This city proin their circular dated Nov. 1 include the following bond poses to hold an election to vote on the question of issuing
issues, the sales of which have not been previously reported $300,000 5% public-improvement bonds to be due Jan. 1
by us:
1935.
Gravel-Road Bonds.
Lewistown School District No. 1 (P. 0. Lewistown), Ida.
Adams County-$3,580 454% Root Township bonds. Denomination $179.
Date May 15 1909. Interest semi-annually at the Old Adams County -Bond Sale.-An issue of $55,000 5% 10-20-year (optional)
Bank in Decatur.
improvement bonds was disposed of on Oct. 8 to James H.
Carroll County-$7,600 454% Carrollton Township bonds. Denomination
*$380. Date May 15 1909. Interest semi-annually at the County Treas- Causey & Co. of Denver for $65,850-the price thus being
&urer's office in Delphi.
101.545. Denomination $1,000. Date July 1 1909. Inter$5,800 454% Democrat Township bonds. Denomination $290. Date
sr Dec. 15 1908. Interest May 15 and Nov. 15 at the County Treasurer's est semi-annual.
office in Delphi.
Lexington, Ky.-Bids.-Following is a list of the bids
Clinton County-$2,080 454% Forest Township bonds. Denomination
$104. Date Feb. 5 1909. Interest May 15 and Nov. 15 at the County received for the $25,000 4M% sewer bonds awarded on Oct.
Treasurer's office in Frankfort.
19, to O'Connor & Kahler of New York City at 104.279
Hamilton County.-$8,520 44% Jackson Township bonds. Denomination
$426. Date Dec. 16 1908. Interest May 15 and Nov. 15 at County (V. 89, p. 1100.)
Treasurer's office in Noblesville.
O'Connor& Kohler. N.Y...$26,069 75 1 E.H.Rollins&Sons, Chic_.$25.637 50
$8,840 4 4% Wayne and Fall Creek Townships bonds. Denomination C.E.Denison&Co., Cleve_ 25.828 00 A. B. Leach & Co., Chic__ 25,452 00
$442. Date Dec. 16 1908. Interest May 15 and Nov. 15 at County Sec. Trust Co., Lexington. 25,645 00 West.-Germ. Bk., Cinn_ __ 25,066 00
Treasurer's office in Noblesville.
Huntington County-$2.700 5% Polk and Wayne Townships bonds. DeLexington, Dawson County, Neb.-Bonds Not Yet Issued.
nomination 3135. Date July 6 1909. Interest May 15 and Nov. 15 at
-Up to Oct. 26 the $40,000 high-school and the $10,000
Huntington County Bank in Huntington.
Madison County-$1,520 4J% Van Buren Township bonds. Denomina- grade-school-building bonds voted on Aug. 30 (V. 89, p. 613)
tion $76. Date Jan. 1 1909. Interest May 15 and Nov. 15 at County had not yet been issued. We are informed that they are to
Treasurer's office in Anderson.
$3,020 4% Jackson and Pipe Creek Townships bonds. Denomina- be taken by the State Treasurer.
tion $151. Date Jan. 15 1909. Interest May 15 and Nov. 15 at County
Long Beach, Cal.-Bond Sale.-The $245,000 4%
Treasurer's office in Anderson.
Denomination $140.
Miami County-$2,800 454% Butler Township bonds.
municipal water-frontage bonds offered on Oct. 29 (V. 89,
Date April 15 1909. Interest May 15 and Nev. 15 at County Treasurer's
p. 1100) were awarded, it is stated, to the National Bank
P. office in Peru.
bonds.
Parke County-35,831 40 4J% Penn and Washington Townships
of Long Beach at 100.10 and interest.
A Denomination $291 57. Date April 5 1909. Interest May 15 and
Los Angeles-Colegrove, Cal.-Consolidation.-An elecIF Nov. 15 at County Treasurer's office in Rockville.
Vigo County-$5,330 4% Lost Creek Township bonds. Denomination tion held Oct. 19 resulted in favor of annexation to Los
$268 50. Date Aug. 2 1909. Interest May 15 and Nov. 15 at County
Angeles of Colegrove and extensive territory just west of
Treasurer's office in Terre Haute.
Wabash County-32,800 4 54% Waltz Township bonds. Denomination the city limits. Local papers give the vote as follows: In
at
County
and
15
Nov.
15
May
Interest
1909.
$140. Date April 15
Los Angeles, 5,762 "for" to 319 "against"; and in Colegrove,
Treasurer's office in Wabash.
White County-$5,300 4% Prairie Township bonds. Denomination 517 "for" to 95 "against."
White
at
and
15
15
Nov.
May
$265. Date March 15 1909. Interest
County Loan, Trust & Savings Co. In Monticello.
Lynchburg, Va.-Rate of Interest to be Increased.-Richthe City Council of this place will be
Maturity one bond of each issue every six months from mond papers state that
asked to increase the rate of interest from 4% to 43% on
May 15 1910 to Nov. 15 1919 inclusive.
the $400,000 pblic-improvement bonds (V. 89, p. 873), bids
School-House Bonds.
rejected on Aug. 16.
Jackson County-$3,600 454% 1-10-year (serial) tax-exempt Vernon Town- for which were
Interest semiship bonds. Denomination $360. Date July 15 1909
Mankato, Blue Earth County, BEIM -Bond Sale.-The
annually at the Crothersville State Bank of Crothersville.
Kosciusko County-37.850 454% 1-10-year (serial) tax-exempt Washing- $40,000 45% 20-year refunding water bonds described in
ton Township bonds. Denomination $785. Date Sept. 1 1909. InterV. 89, p. 1178, were awarded on Nov. 1 to Coffin & Crawest semi-annually at People's Bank of Pierceton.
Montgomery County-$15.000 4% tax-exempt Coal Creek Township bonds. ford of Chicago at 104.27-a basis of about 4.183%. The
Denomination $750. Date Aug. 5 1909. Interest semi-annually at
Corn Exchange State Bank in New Richmond. Maturity $750 each six bids were as follows:
months from Aug. 5 1910 to Feb. 5 1920 inelusive.
Coffin & Crawford, Chic_ 441,708 00 Harris Tr. & S. Bk.. Chic_$40,870 00
C. E. Denison & Co., Clev. 40.845 00
Randolph County-$34,500 4 54% tax-exempt Monroe Township bonds
Woodin, McNear & Moore,
50
Interest Feb. 1 and Aug. 1
Denomination $575. Date Sept. 1 1909
41,112 00 First Nat. Bank. Mankato 40.812 00
Chicago
Aug. 1.
E.H.Rollins & Sons, Chic_ 40,684
00
Bk..
Mankato.
41,100
at People's Loan & Trust Co. in Winchester. Maturity $2,300 on1924
Mix.
Nat.
in- American
Tr. & S. B.,Chic 41.075 00 N .W. Halsey & Co., Chic. 40,538 00
1910 and $1,150 each six months from Feb. 1 1911 to Aug. 1
clusive.
Kane & Co., Minneapolis_ 41,048 33 Chas. H. Coffin. Chicago_ 40.401 00
40.000 00
Vanderburgh County -$10,000 4 4% 6-15-year (serial) tax-exempt Perry Wells & Dickey Co.. Minn. 41.021 00 S. A. Kean, Chicago
Township bonds. Denomination 31,000. Date Sept. 1 1909. Interest Security Trust Co., Detroit 41.017 78
semi-annually at Farmers & Citizens Bank In Howell.
Union Invest. Co., Minn__ 40,930 00
Maturity Dec. 1 1929.
Johnstown, Cambria County, Pa.-Bonds Not Sold.-No
Blue Earth County, Minn.-Bond Offering.•Mapleton,
overheadcoupon
4%
$30,000
bids were received for the
will
be received until 7:30 p. m. Nov. 15 by the
Proposals
948.
p.
V.
89,
in
and
described
1
bridge bonds offered on Nov.
1238
THE CHRONICLE
[VOL. Lxxxix.
Village Council, J. H. Dobie, President, C. M. Credicott,
New York City.-Bond Sale.-During the month of OcClerk, for $7,000 5% refunding bonds.
tober the Sinking Fund of this city purchased at par the
Authority vote of 31 to 2 at an election held Oct. 5. Denomination following bonds:
$1,000. Interest Jan. 1 and July 1. Maturity $1,000 yearly on July 1.
from 1913 to 1919 inclusive. Certified check for $200 is required. Purchaser to furnish blank bonds.
Marion County (P. 0. Marion), Ohio.-Bond Sale.-The
$2,900 5% coupon Guthery Free Turnpike Road bonds
offered on Nov. 1 and described in V. 89, p. 1025, were
awarded on that day to James B. Guthery of Marion at par
and accrued interest.
Marshall, Harrison County, Tex.-Bonds Voted.-The
$50,000 5% 10-40-year (optional) high-school bonds mentioned in V. 89, p. 949, were authorized by a vote of 278
"for" to 137 "against."
Marshfield, Coos County, Ore.-Bond Sale.-On Oct. 26
the $54,000 5% 20-year warrant-funding bonds described
in V. 89, p. 949, were awarded to Woodin, McNear & Moore
of Chicago, it is stated, for $54,685-the price thus being
101.268.
Mediapolis, Des Moines County, Iowa.-No Bonds to be
Issited.-Papers recently reported that this town had voted
to issue water bonds. The Treasurer informs us that the
town has voted to install a water-works plant but has cash
on hand to pay for the same. He adds that "there will be no
bonds issued.
Memphis, Tenn.-Bond Offering.-Proposals will be received until 1 p. m. Nov. 8 for the $260,000 4% policestation-building bonds mentioned in V. 89, p. 872.
PurposeVarious municipal purposes
Water-supply bonds
Library bonds
General fund bonds
Total
Rate of Int. Maturity.
a
1958
3
1958
3
1958
3
1930
Amount.
$65,000
3,000
2,000
12,000,000
$12,070,000
The following revenue bonds (temporary securities) Were
also issued during October:
Revenue bonds, current expenses
Revenue bonds, current expenses
Revenue bonds, special
Total
Amount.
Interest.
"$16,280,790
4
3s4•1,200,000
4
.475,000
;17,955,790
• These bonds were reported in last week's "Chronicle," but are repeated
as a matter of record.
North Sterling Irrigation District, Logan County, Colo.Bond Offering.-Proposals will be received until 2 p. m.
Nov. 24 by the Board of Directors at Sterling for issues of
$50,000 and $5,000 6% irrigation bonds.
Authority Act of General Assembly, approved May 3 1905. Denomination $500. Interest semi-annual. The selling price of the issue is limited
by statute to not less than 95% Of face value of the bonds. John E. Fetzer
is Secretary of the Board of Directors.
Oakland, Alameda County, Cal.-Bond Election.-It is
stated that an ordinance has been passed providing for an
election to be held Nov. 15 to vote on the question of issuing
$1,200,000 city-hall and $2,503,000 harbor-improvement
bonds.
Okeene, Blaine County, Okla.-Bond Offering.-Proposals
Date Aug. 1 1909. Interest semi-annual. Maturity Aug. 1 1949. Cerwill be received until Nov. 15 (time extended from Nov. 1)
tified check for 5% of bid is required.
Mercer County (P. 0. Celina), Ohio.-Bond Offering.-In by 0. G. Graalman, Town Clerk, for $30,000 6% bonds.
Denomination $1,000. Date Oct. 1 1009. Maturity Oct. 1 1034.
addition to the $22,000 432% Eichler Road bonds to be
Orange, Orange County, Va.-Bond Offering.-Proposals
offered to-day(Nov. 6) V. 89, p. 1101, proposals will also be
received until 10 a. m. by the County Auditor for the fol- will be received until 8 p. m. Nov. 18 for $20,000 water bonds.
Maturity 15 to 30 years. Frank B. Perry is Mayor.
lowing 43/2% coupon road-improvement bonds:
$12,000 Homan Road bonds. Maturity on Dec. 1 as follows: $1,000
Ottumwa Independent School District (P. 0. Ottumwa),
yearly from 1910 to 1915 inclusive and $1,500 yearly from 1916 to
Wapello County, Iowa.-Bond Sale.-This district has dis1919 inclusive.
3,000 Schaffer Road bonds. Maturity $500 on Dec. 1 in each of the posed of $25,000 4% bonds to Woodin, McNear & Moore
years 1911, 1913, 1015, 1917, 1918 and 1919.
5,500 Leungers Road bonds. Maturity $500 yearly on Dec. 1 from 1910 of Chicago at par less $285.
to 1918 inclusive and $1,000 in 1919.
Pacific County School District No. 32,Wash.-Bond Sale.
10,000 Harting's Road bonds. Maturity $1,000 yearly on 'Dec. 1 from
-On Sept. lithe State of Washington purchased $30,000
1910 to 1919 inclusive.
Authority Title 7, Chapter 8, V. 94, p. 96, passed April 4 1000, with 5% 1-20-year (optional) refunding bonds at par. Denomiamendments. Denomination $500. Date Dec. 1 1909. Interest semiannually at the County Treasurer's office. A cash deposit of $100 on each nation $1,000. Date Oct. 1 1909. Interest annual.
Issue bid for is required.
Panama City, Washington County,Fla.-Bond Offering.Bond Sale.-The nine issues of 4% bonds aggregating Proposals will be received until Nov. 10 by R. L. McKenzie,
$75,500, offered without success on Aug. 28 (V. 89, p. 614), Mayor,for $14,000 5% water-works, street-improvement and
have been sold.
school bonds. Interest semi-annually in Panama City.
Mifflin Township School District, Allegheny County, Pa. Maturity 15 years.
-Bond Offering.-Proposals will be received until 8 p. m.
Parsons, Kan.-Commission Form of Government Voted.Nov. 12 by Joseph Myfert, Secretary of School Board (P. 0. On Oct. 26 this city by a vote of 875 to 209 voted, it is
Box 408, Munhall), for $65,000 43% school bonds.
stated, for the adoption of a commission form of government.
Denomination $1,000. Date Nov. 15 1909. Interest semi-annual.
Peniel Independent School Distrct (P. 0. Peniel), Hunt
Maturity $5,000 on Nov. 15 every 3 years from 1912 to 1933 inclusive
and *5,000 yearly from 1935 to 1939 inclusive. Bonds are exempt from County, Tex.-Bond Sale.-The $2,600 5% 10-20-year
taxes. Certified check for $1,000, payable to the Treasurer of the School (optional) bonds registered by the
State Comptroller on
Board, is required.
Mississippi Levee District, Miss.-Bond Sale.-An issue Aug. 26 (V. 89, p. 614), have been disposed of at par to
of $450,000 VA% 10-25-year bonds has been sold. De-- funds of Hunt County. Denomination $520. Date June 22
nomination $1,000. Date Sept. 1 1909. Interest semi- 1909. Interest annual.
•
Phoenix School District No. 1 (P. 0. Phoenix), Maricopa
annual. The Bank of Commerce & Trust Co. of Memphis
County, Ariz.-Bond Offering.-Proposals will be received
is offering to investors $250,000 bonds of this issue.
until 11 a. in. Nov. 15 by W. E. Thomas, Clerk Board of
Mt. Oliver, Allegheny County, Pa.-Bond Sale.-We are Supervisors,
for the $125,000 5% gold coupon school-building
advised that the $75,000 coupon sewerage bonds awarded bonds voted (V.
89, p. 874) on Sept. 18.
on Oct. 25 to the Washington Investment Co. of Pittsburgh
Authority Title 19, Revised Statutes of 1901. Denomination $1,000.
carry interest at the rate of 432% and not 4% as reported Date
Nov. 15 1909. Interest annually at the County Treasurer's office in
Phoenix. Maturity Nov. 15 1929. Certified check for 10% of bid is
in V. 89, p. 1178.
required.
Denomination $1,000. Date Jan. 1 1910. Interest semi-annual. MaPittsburgh, Pa.-Bonds Voted.-The election held Nov. 2
turity $15,000 on Jan. 1 in each of the years 1915, 1920, 1925, 1930 and 1935.
Mount Vernon, N. Y.-Commission Form of Government.- resulted in favor of the propositions to issue the $6,775,000
At last Tuesday's election the voters favored a commission bonds mentioned in V. 89, p. 950. As already reported,the
form of city government. The plan adopted, which will proceds of these bonds will be used for the following purhave to be sanctioned by the Legislature, provides for a poses:
$3,000,000 for extending the water-system, $1,500,000 for improving
commission of five members,of whom the Mayor shall be one. the streets, $75,000 for a bridge for Southern Avenue, $300,000
for free
bridges
and sewer extensions, $700,000 to Improve the parks and playThe entire city government is to be consolidated into three
grounds, $250,000 for a tuberculosis hospital, $100,000 for the disposal
bureaus, over which the commissioners will have entire or Incineration of rubbish and garbage and $850,000 to repair and concharge. The term of office of each commissioner will be five struct bridges.
years, subject to recall upon petition of one-fourth of the
Plainville Special School District No. 7 (P. 0. Station M,
voters.
Cincinnati), Ohio.-Bond Sale.-On Oct. 21 the First
New Hampshire.-Bonds Awarded in Part.-Only $13,000 National Bank of Cleveland was awarded the $12,000 4%
of the $250,000 3% 4-6-year (serial) highway bonds offered school-building bonds described in V. 89, p. 1026, at 103.175
were received:
on' Nov. 1 to residents of this State were subscribed for. and accrued interest. The following bidsNational
Bank,
First Nat. Bk., Cleveland_ _.$12,3811New First
The bonds are dated Jan. 1 1910 and are described in V. 89, Otis
$12,305
& Hough, Cleveland__ _ 12,3101 Columbus
p. 1178.
We are informed that several bids arrived too late to be
New Martinsville, Wetzel County, W. Va.-Bond Sale.- considered. Maturity $6,000 on Jan. 1 in each of the years
On Oct. 18 the $12,000 6% water-works improvement bonds 1920 and 1930.
mentioned in V. 89, p. 873, were awarded to the New
Pleasant Township School District(P.0. New Lexington),
Martinsville Bank at 104.91.
Perry
County, Ohio.-Bond Sale.-An issue of $2,000 6%
Denomination $100. Date Oct. 1 1909. Interest annual. Maturity
school-building bonds was sold on Oct. 21 to M. Carroll at
Oct. 1 1934, subject to call after 10 years.
New Orleans, La.-Bond Sale.-This city has sold $125,000 103.
Denomination $400. Date Oct. 21 1909. Interest semi-annual.
5% bonds to Farson, Son & Co. of Chicago. It is reported Maturity
$400 each six months from April 21 1910 to April 21 1912 in•that the bonds have been all disposed of by the Chicago firm. clusive.
Portland, Conn.-Bond Sale.-This town has disposed of
Newport, Lincoln County, Ore.-Bond Offering.-Proposals will be received until 12 m. Nov. 13 by A. H. Hamp- at private sale the $66,000 4% 20-year coupon (with privilege
ton, City Recorder, for $30,000 water bonds at not exceeding of registration) refunding railroad-aid bonds offered on June
21.
6% interest.
Denomination $500 or $1,000. Interest semi-annually at City TreasPontotoc County (P. 0. Ada), Okla.-Bonds Not Sold.urer's office in Newport or at a designated fiscal agency in New York City. In a letter received Oct. 25 the County Treasurer advises us
Maturity 25 years, subject to call after 10 years. Certified check for 5%
"no bonds sold yet." This information was in answer to
of antly.init of bonds bid for is required.
NOV. 6 1960.I
THE CHRONICLE
1239
,our request for details of the $15,000 funding bonds which
some of the papers stated had been sold.
Portland, Ore.—Bonds Authorized.—Local papers state
that on Oct. 27 this city by an ordinance passed on that day
authorized the issuance of $250,000 bridge bonds.
Portsmouth School District (P. 0. Portsmouth), Scioto
County, Ohio.—Bonds Voted.—The election held Nov. 2 resulted in favor of the proposition to issue the $150,000 highschool bonds mentioned in V. 89, p. 1178.
Reading School District (P. 0. Reading), Pa.—Bond Sale.
—This district has disposed of $40,000 3% 1-30-year
.(optional) building bonds to local investors at par. Denomination $500. Date 1909. Interest January and July.
Rhode Island.—Bonds Voted.—The proposition to issue
the $500,000 harbor-improvement bonds mentioned in V. 88,
p. 1271, was favorably voted upon Nov. 2. These bonds
will be issued from time to time in such amounts as the
'General Assembly may determine.
Roanoke, Va.—Bond Election Proposed.—The Board of
Aldermen will take action on the bond issues, aggregating
$800,000, recently approved by Common Council. V. 89,
p. 1102. If passed on favorably by the Aldermen, the matter
will be put to a vote of the people on Dec. 11. The bonds, if
voted, will bear 43% interest and be issued for the following
purposes: $100,000 for schools, $45,000 for fire and water,
$70,000 for sewers, $300,000 for public buildings and $285,000 for streets. The question of holding the election has
already passed the Common Council.
St. Francis Drainage District (P. 0. Piggot), Clay and
Greene Counties, Ark.—Bond Offering.—Geo. W. Seitz,
Secretary, is offering at private sale the $220,000 6% drainage bonds mentioned in V. 89, p. 1178.
Salisbury, N. 0.—Bond Sale.—E. H. Rollins & Sons of
Boston were awarded on Nov. 1 an issue of $20,000 5% 20year water bonds.
San Bernardino City School District (P. 0. San Bernardino), San Bernardino County, Oal.—Bond Sale Not Consummated.—The $35,000 5% gold 10-19-year (serial) school
bonds awarded on Oct. 11 to the American Savings Bank
of Los Angeles at 107.517 and accrued interest (V. 89, p.
1102) have, according to reports, been refused by them.
San Francisco, Cal.—Bond Elections Proposed.—In writing
of the proposed bond elections for the Hetch Hetchy Water
System and the Geary Street Railroad,,the Clerk of the Board
of Supervisors informs us that up to Oct. 27 the dates
for the said elections had not yet been definitely determined
upon. He adds, however, that in his opinion they will be
held on different dates, between the 23d and 30th of December. It is expected that the Hetch Hetchy water scheme
will cost approximately 40 million dollars and the Geary
Street Railroad scheme approximately 2 million dollars.
See V. 89, p. 1102.
South Greensburg (P. 0. Greensburg), Westmoreland
County, Pa.—Bond Sale.—According to reports, J. S. ez
W.S. Kuhn of Pittsburgh have purchased the $25,000 15-30year (optional) coupon street-improvement bonds described
in V. 89, p. 951.
• Spottsylvania County (P. 0. Spottsylvania), Va.—Bonds
Voted.—Reports state that the election held Nov. 2 (V. 89,
p. 1103) resulted in favor of propositions to issue $60,000
bonds for the Courtland District and $40,000 ponds for the
Chancellor District.
Springfield, Ill.—Bonds Authoriz2d.—Local reports state
Denomination 11,000. Date July 1 1909. Interest semi-annual. Ma- that the Park Board on Oct. 28 voted to issue $30,000
turity 40 years, subject to call after 20 years. Certified check for $2,000, 1-20-year (serial) bonds
for the new "Lincoln Inn" at Lincoln
payable to the Secretary, is required. Bonded debt, this issue. No
Park and for improvements at Mildred Park. Denominafloating debt.
tion
$500. Date Sept. 1 1909.
St. John the Baptist Parish, (P. 0. Edgard), La.—Bond
‘Offering.—Proposals will be received until_Nov. 12 for $48,Spring Valley, N. Y.—Bond Sale.—The First National
Bank of Spring Valley purchased $800 5% 1-2-year (serial)
000 5% gold bonds.
Denomination $1,000. Date Nov. 15 1909. A. C. Bernard is Superin- street bonds on Oct. 11 at par. Denomination $400. Date
tendent of Schools.
Oct. 11 1909. Interest annual.
NEW LOANS.
NEW LOANS.
$78,000
CITY OF STAMFORD, CONN.
Proposals For
$2,500,000
4% GOLD BONDS
Sealed proposals will be received by the
Treasurer of the City of Stamford in the Stamford
National Bank on the 26TH DAY OF NOVEMBER, 1909, at 12 o'clock M., when they will be
publicly opened, for
$45,000 Public Park Bonds of the City of Stamford (Coupon Bonds).
$33,000 Free Public Library Bonds of the City of
Stamford (Coupon Bonds).
The principal of said bonds is payable December 1, 1939, in gold coin of the United States of
America, of the present standard of weight and
fineness, and the interest at the rate of 4% per
annum is payable in gold coin semi-annually on
the first days of June and December of each
year, principal and interest payable in New York.
Proposals should be enclosed in a sealed envelope addressed to the City Treasurer and
endorsed "Proposals for Bonds of the City of
Stamford." Each bid must be accompanied by
a certified check or bank draft to the order of the
City Treasurer of Stamford for 2% of the par
value of the bonds bid for, the amount of said
Check or draft to be credited upon said bid if
accepted and to be returned forthwith if not
accepted.
toi
Said bonds will bear date of December 1, 1009
the purchaser to pay accrued interest, if any, on
the bonds to the date of delivery.
The City Treasurer reserves the right to reject
any or all bids.
WILLIAM N. TRAVIS,
City Treasurer.
CANADIAN
MUNICIPAL BONDS
W. A. MACKENZIE & CO.,
TORONTO. CANADA
THE AMERICAN MFG CO.
MANILA, SISAL AND JUTE
CORDAGE.
65 Wall Street.
-
N ew York
Worth of Four Per Cent Bonds of
The Sanitary District of Chicago
'being the Twenty-fourth Issue Thereof
Sealed proposals, addressed to the Board
of Trustees of The Sanitary District of Chicago,
and indorsed "Proposals for Purchasing Bonds,"
will be received by the Clerk of said The Sanitary
District of Chicago, at Room 1500, American
Trust Building, Chicago, Illinois, until one (1)
p. m. (standard time), on WEDNESDAY,
NOVEMBER 24, 1909.
The bonds for the purchase of which said
bids will be received are the twenty-fourth
and present issue of two million five hundred
thousand ($2,500,000 00) dollars' worth of bonds
of said The Sanitary District of Chicago, in
denomination of one thousand ($1,000 00)
dollars each, all to bear date of the first day
of December, 1909. with interest at the rate of
four (4%) per cent per annum, payable semiannually on the first day of June and the first
day of December of each year, until said bonds
are paid. Two hundred fifty thousand ($250,000 00) dollars of the principal of said two
million five hundred thousand ($2,500,000 00)
dollars' worth of bonds hereby offered for sale
are to be payable on the first day of December,
1911, and one hundred twenty-five thousand
($125,000 00) dollars of the principle of said
bonds are to be payable on the first day of December of each succeeding year up to and including
the year 1929, both principal and interest to be
payable at the office of the Treasurer of said
The Sanitary District of Chicago.
Proposals will be received for two million
five hundred thousand ($2,500,000 00) dollars'
worth of said bonds or any portion thereof.
One million five hundred thousand ($1.500,000 00) dollars' worth of said bonds are to be
delivered December 1, 1909, and the remaining
one million ($1,000,000 00) dollars' worth of
said bonds December 1, 1909, or not later than
January 2, 1910, at the option of the purchaser,
accrued interest to date of delivery, if any, to
be paid by the purchaser.
Each proposal must be accompanied by certified check or cash in amount equal to five (5%)
per cent of the amount of the bid. All certified
checks must be drawn on some responsible
Chicago bank, and must be made payable to
the order of the "Clerk of The Sanitary District
of Chicago." Said amount of five
(5%) Pex
cent of the amount of the bid will be held by
said The Sanitary District of Chicago until all
of said proposals have been canvassed and the
bonds have been awarded.
No bid of less than par and accrued interest
will be considered, and the right is reserved to
reject any and all bids.
The said bonds to be paid for and delivered
at the office of the Treasurer of said The Sanitary
District of Chicago.
For further information apply to the President
or Clerk of said The Sanitary District of
Chicago,
or the Chairman of the Committee on
Finance.
Room 1500, American Trust Bldg., Chicago,
III,
THE SANITARY DISTRICT OF CHICAGO
By ROBERT R. McCORMICK. President,
I. J. Bryan, Clerk.
Henry F. Eidmann, Chairman Committee on Finance.
BIRD 8.COLER
LEONARD H.HOLE
W. N. GOLER & CO.,
BANKERS
43 CEDAR ST.. NEW YORK.
INVESTMENTS.
ESTABLISH/ID 1866
H. C. Speer & Sons CO.
First Nat. Bank Bldg.,Chinn*
CITY, COUNTY
AND SCHOOL
BONDS
!Nola. faxxix.
THE CHRONICLE
1240
Stamford, Conn.—Bond Offering.—Proposals will be received until 12 m. Nov. 26 by William N. Travis, City
Treasurer, at the Stamford National Bank for $45,000
public-park and $33,000 free-public-library 4% gold coupon
bonds.
Date Dec. 1 1909. Interest semi-annually in New York. Maturity
Dec. 1 1939. Certified check or bank draft for 2% of bonds bid for, payable to the City Treasurer, is required. Accrued interest, if any, to be
paid by the purchaser.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Stamford, Tex.—Bonds Voted.—A proposition to issue
$15,000 school bonds carried, it is stated, by a vote of 91
to 6 at an election held Oct. 28.
Sweetwater School District (P. 0. Sweetwater), Nolan
County, Tex.—Bond Offering.—This district is offering for
sale the $10,000 5% 10-40-year (optional) school-building
bonds described in V. 89, p. 553.
Temple, Bell County, Tex.—Bonds Registered.—An issue
of $56,000 5% 10-40-year (optional) water-works bonds was
registered on Oct. 25 by the State Comptroller.
Thomaston, Upson County, Ga.—Bond Sale.—The $15,000
6% 11-25-year (serial) school-building bonds described in
V. 89, p. 1026, were sold on Nov. 2 to Paul A. Bowden of
Thomson at 111.94 and accrued interest. The bonds are
dated Jan. 1 1910. Interest January and July.
Toledo, Ohio.—Bond Sale.—The Ohio Savings Bank &
Trust Co. of Toledo on Nov. 3 was awarded, it is stated,
the $100,000 4% coupon general street-improvement bonds
described in V. 89, p. 875, at 100.586.
Topeka, Kan.—No Action Yet Taken.—Up to Oct. 25 no
action had yet been taken looking towards the offering of
the three issues of bonds voted (V. 89, p. 616) on Aug. 24.
Tulsa County (P. 0. Tulsa), Okla.—Bonds Voted.—We are
informed that an issue of $700,000 bonds was recently voted.
Van Alstyne School District (P. 0. Van Alstyne), Grayson County, Tex.—Bond Sale.—The $12,500 5% schoolbuilding bonds mentioned in V.88, p. 1459, have been disposed of at par and accrued interest to the Commissioners of
Grayson County. This issue was registered by the State
Comptroller on Oct. 25.
Vanderburgh County,(P. 0. Evansville) Ind.—Bond Sale.
—On Oct. 28 the $80,000 33.% coupon refunding bonds
described in V. 89, p. 952, were sold to Francis J. Reitz at
par. There were no other bidders. Maturity Jan. 1 1925.
Washington, Warren County, N. J.—Bond Election.—
According to local papers, a $60,000 sewer-bond election
will be held on Dec. 7.
Wellington, Lorain County, Ohio.—Date of Bonds.—We
are advised that the $10,000 5% 1-10-year (serial) streetimprovement bonds awarded on Oct. 27 to the DaviesBertram Co. of Cincinnati at 104.63 (V. 89, p. 1181) are
dated Oct. 7 1909. Interest semi-annual.
Wellsville Union Free School District No. 1 (P. 0. Wellsville), Allegany County, N. Y.—Bond Sale.—Adams & Co.
of New York City purchased on Nov. 1 the $18,600 5%
building bonds described in V. 89, p. 1104, at 102.39. Purchasers to furnish blank bonds and pay accrued interest.
Maturity part yearly on Dec. 1 from 1910 to 1927 inclusive.
West End (P. 0. Birmingham), Ala.—Bond Election.—An
election will be held Nov. 22 to vote'on propositions to issue
$6,500 bonds to construct concrete bridges and culverts and
$6,000 to complete and furnish the new school-house and
city-hall.
Wewoka, Seminole County, Okla.—Bond Sale.—The
N. S. Sherman Machine & Iron Works Co. of Oklahoma City
has purchased an issue of bonds of this place.
Worland School District No. 34 (P. 0. Worland), Big
Horn County, Wyo.—Bond Sale.—The $10,000 6% 5-14-year
(serial) school-building bonds offered on Oct. 25 (V. 89,
p. 952) were sold on that day to F. W. Keeler & Co. of Denver at 107.50—a basis of about 5%. Denomination $1,000.
Date Oct. 25 1909. Interest semi-annual. Other bids
were as follows:
103.50
Benwell & Steel, Denver
J. H. Causey & Co., Denver 102.12
Coffin & Crawford, Chicago_ _102.00
A. J. Hood & Co., Detroit_ _101.25
John Nuveen & Co., Ch1cago_101.06
101.01
C. H. Coffin, Chicago
NEW LOANS
NEW LOANS.
S. A. Kean & Co., Chicago___100.60
W. L. Rohrer & Co., Chlcago_100.50
Ulen, Sutherlin & Co., Chic _100.37
Farson, Son & Co., Chicago_ _100.10
Citizens' Nat. Bank,Cheyenne Par
NEW LOANS.
tn.
$500,000
$50,000
MONTOOMERY,
$500,000
ALA. CITY OF SPOKANE CITY OF SPOKANE
PAVING BONDS
Sealed bids will be received by the City Treasurer of Montgomery, Alabama, for the purchase
of $50,000 00 Paving Bonds, dated November 1st, 1909, bearing interest at the rate of five
per centum per annum, said bonds to be In
denomination of $500 00 each, payable ten years
from their date. Such bonds may, at the option
of the City of Montgomery, be redeemed at any
interest period, in numerical order, and not to
exceed one-tenth of the total issue in any one
year, but in case the City shall elect to pay any
of said bonds before their maturity, it shall pay,
as a bonus to the holder thereof, a sum equal to
one-fourth the annual interest thereon. Interest
to be paid semi-annually
Bids to be received not later than noon,
NOVEMBER 15TH, 1909, and each bid to be
accompanied by a certified check for $1,000 00.
Favorable opinion of Storey, Thorndike,
Palmer & Thayer of Boston as to legality of bonds
to be furnished successful bidder.
No conditional bids as to opinion of other
attorneys will be entertained.
The Council reserves the right to reject any and
all bids.
ROBERT TAIT, City Treasurer,
Montgomery, Ala,
25-YEAR
WATER EXTENSION BONDS
25-Year
Bridge Construction & Repair Bonds
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Washington, at the office of the City Comptroller of
said city, up to 11 o'clock a. m. of the 22nd day of
November. 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by said city for the purpose of paying off outstanding warrants issued
against the Water Extension Fund and constructing a force main to be used in the general water
system, and bear date of July 1, 1909, payable
25 years after said date, and bear interest at a
rate not to exceed 434% annually, payable semiannually at the fiscal agency of the State of Washington in New York City.
Said Commission reserves the right to reject any
and all bids, and each offer must be accompanied
with a certified check for 2% of the amount of
the bid, and must be for at least par and accrued
interest.
ROBERT FAIRLEY,
2ap-i
City Comptroller.
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane. Washington, at the office of the City Comptroller, of
said city, up to 11 O'clock A. M. of the 22d Day
of November, 1909. for the purchase of all or any
portion of a $500,000 bond Issue of said city.
Said bonds are issued by the said city to pay
for the construction and repair of bridges across
the Spokane River, and bear date of July 1, 1009,
and payable 25 years after said date, and draw
Interest at a rate not to exceed 434% annually,
payable semi-annually at the fiscal agency of the
State of Washington In New York City.
Said Commission reserves the right to reject
any and all bids, and each offer must be accomt
panted by a certified check for 2% of the amounof the bid, and must be for at least par and
accrued interest.
ROBERT FAIRLEY,
City Comptroller
HUNT, SALTONSTALL & CO.,
PERRY, COFFIN & BURR
Investment Bonds
Members New York Stock Exchange
Investment Securities
60 STATE STREET
BOSTON
NATIONAL LICHT,
HEAT & POWER CO.
GUARANTEED AN
Issues
BONDS
A. H. Bickmore & CO.)
BANKERS
New York
30 Pine Street,
60 State Street, Boston
P. J. GOODHART & CO.,
BLACKSTAFF & CO.
Bankers
& COMPANY
McCOY
Formerly MacDonald. McCoy & 0o.
Municipal and
Corporation Bonds
INVESTMENTS
1332 Walnut Street
PHILADELPHIA
NEW YORK
57 BROADWAY
Telephone 2240 Rector
328 Walnut St., Cincinnati
Bank and Trust Co, Stocks
LIST OF SPECIALTIES ON REQUEST
MUNICIPAL AND RAILROAD
181 La Salle Street, - Chicago
BONDS,
Co.
8c
Merritt
Blodget,
Bank and Trust Company Stocks
BANKERS
NEW YORK AND BROOKLYN
BOUGHT AND SOLD
60 STATE STREET, BOSTON
30 PINE STREET, NEW YORK
CLINTON CILBERT,
2 WALL ST.. NEW YORK.
•
STATE, CITY & RAILROAD BONDS
LEAL,k,:td LIST ON APPLIOATION
n,1
SEASON GOOD & MAYER,
liteetantile Library Building
.
77.7.Ui1. .,011101NtAATI
Nov. 6 1909.1
1241
THE CHRONICLE
Canada, its Provinces and Municipalities.
Arcola, Sask.—Price Paid for Debentures.—Nay & James
of Regina paid 104 for the $15,000 6% 30-year water-worksextension debentures awarded them on Sept.7. V.89,p.1027.
Barrie, Ont.—Bond Sale.—On Oct. 29 the four issues of
432% debentures aggregating $83,000 described in V. 89,
p. 800, were awarded to Brent, Noxon & Co. of Toronto
for $83,189—the price thus being 100.227 and accrued
interest. The bids were as follows:
Toron.101.776
G. A. Stimson&Co., Toron_103.061 Aemillus Jarvis&Co.,
Toronto_ _ _100.927
W.A. Mackenzie&Co., Tor_102.731 Ontario Sec.&Co.,
Co., Toronto. _100.618
Wood, Gundy & Co., Toron.102.250 H. O'Hara
Tor_ _101.7839
Steiner, Dunlop
$20,000 debentures offered on the same day
&Co.'
An issue of
Gosfield North Township, Ont.—Debenture Sale.—This
township has awarded $5,106 5% telephone and drainage
debentures to C. H. Burgess & Co. of Toronto on a basis of
about 4 11-16%. Maturitysart yearly on Oct. 1 from 1910
to 1919 inclusive.
]Guernsey, Sask.—Debenture Offering.—An issue of $1,500
permanent-improvement debentures is being offered for sale
Thos. Vesta is Secretary-Treasurer.
Grey County, Ont.—Debenture Sale.—The Dominion
Securities Corporation of Toronto has purchased $20,000
court-house and bridge debentures.
Jerome School District No. 1506 (P. 0. St. Elisabeth),
Man.—Bids.--The following bids were received on Oct. 25
for the $1,000 5% debentures described in V. 89, p. 953:
(Oct. 29) was withdrawn.
75
Battleford, Sask.—Debenture Offering.—Proposals will be Brent, Noxon & Co.. Tor_ _..$981 00 Nay & James. ReginaToronto$972
961 00
Co.,
received until Nov. 6 for the $18,000 53-% debentures for Tor. Gen. Trusts Corp., Tor.. 980 001G. A.Stlmson &
Kamsack, Sask.—Debenture Sale.—On Oct. 25 Nay &
the purchase of the plant of the Battleford Milling & Eleof Regina were awarded $5,000 general-improvement
vator Co.
James
1909.
15
Oct.
Authority, vote of 91 "for" to 12 "against" at election held
debentures due part yearly for 15 years.
Maturity part yearly on Dec. 31 from 1910 to 1929 inclusive. H.C. Adams
is Secretary-Treasurer.
La Broquerie, Man.—Debenture Sale.—Brent, Noxon
Berlin, Ont.—Debenture Sale.—An issue of $10,000 4.3% & Co. of Toronto have bought $3,000 6% local-improveDunlop
park debentures was recently awarded to Steiner,
ment debentures maturing part yearly for 20 years.
& Co. of Toronto. Maturity part yearly for 40 years.
Leslieville School District No. 1977 (P, 0. Leslieville),
Bothwell, Ont.—Debenture Sale.—This place, it is stated, Alberta.—Debenture Sale.—This district has sold $500
has sold $970 5% 15-year local-improvement debentures to debentures.
C. H. Burgess & Co. of Toronto.
Lucknow, Ont.—Price Paid for Debentures.—We are
Brandon, Man.—Debentures Voted.—According to reports, advised that the $11,087 4% and 4% local-improvement
de$13,000
the rate-payers have authorized the issuance of
and bonus debentures awarded on Sept.28 to C. H. Burgess
bentures to erect a new addition to the Winter Fair Building. & Co. of Toronto were sold on a basis of about 5%. Interest
Coaticook, Que.—No Debentures to be Issued at Present.— Dec. 1 Maturity part yearly until 1927 inclusive.
We are informed that this place has decided not to issue any
Luxford School District, Sask.—Debenture Sale.—This
new debentures until Oct. 1 1910.
district has disposed of $3,000 532% debentures to Nayil&
ure
oOffering.—Pr
Exeter, Huron County, Ont.—Debent
James of Regina. Maturity part yearly for ten years.
posals will be received by J. Senior, Clerk, for the $22,000
McKim Township (P. 0. Sudbury), Ont.—Debentures
5% water-works debentures voted (V. 89, p. 555), Aug. 20.
It is reported that a by-law authorizing the
Authorized.—
Maturity part yearly for 20 years.
10-year school debentures has been passed.
$1,200
of
issuance
Glen Ewen, Sask.—Debenture Offering.—Proposals will
Alta.—Debenture Election.—An election
Hat,
Medicine
be received by the Secretary-Treasurerfor $1,000_permanentwill be held Nov. 23 to vote upon a proposition to issue
improvement debentures.
NEW LOANS.
$20 000
Village of White Plains, N. Y.
INVESTMENTS.
T. W. STEPHENS & 00
MACADAMIZING BONDS
PUBLIC NOTICE IS HEREBY GIVEN that
sealed proposals will be received by the Board of
Trustees of the Village of White Plains, N. Y., on
THURSDAY, NOVEMBER 11TH, 1909, AT
8 P. If., at the Corporation Rooms, Grand Street,
in said Village, for the following bonds, issued
pursuant to the provisions of Chapter 80 of the
Laws of 1906.
Twenty macadamizing bonds of the denomination of One Thousand Dollars each, to bear date
October 1st, 1909, and to become due and payable as follows:
Five Thousand Dollars thereof October lst,1935.
Five Thousand Dollars thereof October lst,1936.
Five Thousand Dollars thereof October 1st,1o37.
Five Thousand Dollars thereof October lst.1938.
Interest at four and one-half per cent, payable
semi-annually on the first days of April and October in each year.
No proposals will be received for less than par.
All proposals must be accompanied by a certified
check upon a State or National Bank or Trust
Company for five per cent of such proposals.
Checks of unsuccessful bidders will be returned
to them.
The Board of Trustees reserves the right to reject any and all proposals. Trustees.
By order of the Board of October 26th, 1909.
Dated White Plains, N. Y.,
FREDERIC S. BARNUM,
President.
EARLE P. HITE,
Clerk.
Investment Bonds
2 WALL STREET, NEW YORK.
MUNICIPAL BONDS
Tax Exempt Anywhere In the United States
Write fer Partioulara
140 Dearborn St., CHICAGO
28 State St., BOSTON
421 Chestnut St., PHILADELPHIA
CEO B. EDWARDS
BROKER AND COMMERCIAL AGENT
Negotiations, Investigations, Reports,
United States, Canada, or Foreign
PR ICE $10.
Pocket Edition of 1885, 192 Pages
Basis, 23 to 532%; 10ths
2 Decimals.
PR ICE $3.
4, 434, 5, 6 and 7% Bonds
Basis in all editions extended to
7% in 10ths.
G. W. DOUGHERTY
NEW YORK
125 Broadway
MUNICIPAL{4%
$17 IFIrst flat Bank Bldg.CHICAGO.ILL
JOHN H. WATKINS
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
t°
6%
BONDS
Selected for Conservative
investors.
Lists Mailed Upon Application.
Lawrence Barnum & Co.
BANKERS.
27-29 PINE STREET. NEW YORK
Charles M. Smith & Co. Philadelphia
Washington
WEBB &
Pittsburgh
)
CO.
INVESTMENT SECURITIES.
74 BROADWAY, NEW YORK
JPORJEUEST dk CO.
BANKERS
Municipal and Seasoned
Corporation Bonds
FREE OF TAX
Tribune Building. 154 Nassau Street
NEW YORK, N. Y. 411 CHESTNUT.ST..
Telephone 4218 BeekroAn
Library Edition, 464 Pages)of
1908.
Desk Edition, 232 "
Basis, 2 to 6% in 5ths, 8ths and 10ths,
4 Decimals.
ULEN, SUTHERLIN & 00. RAILR°AD
CORPORATION
A. B. Leach & Co., No. 2 WALL STREET, NEW YORK
BANKERS,
DEGHUEE'S TABLES
BOND VALUES
Published and for sale by
WE OWN AND OFFER
MUNICIPAL
AND
RAILROAD BONDS
149 Broadway, NEW YORK
MISCELLANEOUS.
R. T. Wilson & Co.
Bankers & Commission Merchants
WHILADELPHIA. PA. 33 WALL STREET
.
.
NEW YORE
1242
THE CHRONICLE
$9,000 5% debentures to purchase a site for the Alberta
Clay Products Co., Ltd.
Moose .Taw School District, Sask.-Debenture Sale.This district has awarded $25,000 5% debentures due part
yearl y for 30 years to C. H. Burgess & Co. of Toronto. The
issue was sold on a basis of about 438%.
New Liskeard, Ont.-Debenture Sale.-Reports state
that W. J. Blair has agreed to purchase, at 98, $8,468 debentures for sewer purposes.
New Westminster,B.C.-Debentures Not Sold.-No award
was made on Oct. 15 of the 6 issues of 5% 50-year coupon
debentures aggregating $398,000 described in V. 89, p. 877.
The debentures are dated July 1 1909. Denomination not
less than $100.
Interest is payable in New Westminster at
the
of Montreal. Total
debt, including these issues, $1,700,117 60. Bank
Assessed valuation 1909
15,391,445.
Niagara Falls, Ont.-Price Paid for Debentures.-The
following 5% sewer debentures recently bought by C. H.
Burgess & Co. of Toronto (V. 89, p. 1028) were disposed
of on a basis of about 4 9-16%: $5,094 due part yearly for
30 years and $1,332 due part yearly for 10 years.
Northfield School District No. 932, Sask.-Debenture Sale.
-An issue of $1,000 debentures was recently awarded to
Nay & James of Regina.
North Vancouver, B. C.-Debenture Offering.-Proposals
will be received until Nov. 18 for the following debentures:
130,000 00 4 % 30-year general debentures.
17,474 40 5%
20-year local-Improvement debentures.
15,000 00 4%% 30-year Water District debentures.
Orillia, Ont.-Debenture Offering.-Proposals will be received until 6 p. m. Nov. 15 by C. E. Grant, Town Treasurer,
for the following 4
coupon debentures recently voted.
See V. 88, p. 1643.
155,000 Sewerage debentures. Maturity part yearly for 30 years.
15,000 Cement walks debentures. Maturity part yearly for 20 years.
20,000 Public School debentures. Maturity part yettrly for 20 years.
3,000 Park debentures. Maturity part yearly for 15 years.
50,000 Debentures as a loan to the Tudhope Co. Maturity part yearly
for 20 years.
Interest annual.
Phoenix, B. O.-Debenture Sale.-An issue of $7,000 6%
local-improvement debentures was awarded recently to C.
[VOL. LXXXIX.
H. Burgess & Co. of Toronto at 99. Maturity June 11921,
subject to call any time at par.
Point Grey, B. C.-Debenture Sale.-An issue of $280,000
5% 50-year road debentures was recently awarded, it is
stated, to Wood Gundy & Co. of Toronto at 104.125.
Richmond Township, B. C.-Debenture Offering.-Proposals will be received until 12 m. Dec. 1 by S. Shepherd,
(P. 0. Rural Route No. 1, Eburne, B. C.) for the $275,000
water-works and $75,000 43% '54:year debentures mentioned in V. 89, p. 1182.
St. Louis, Que.-Debenture Ofiejeng.-Proposals will be
received until 5 p. m. Nov. 9 for $850,000 4% debentures.
Date Nov. 1 1909. Interest semi-annually. Maturity 40 years. Certified check for $100,000 is required. A. F. Vincent is Secretary-Treasurer.
Purchaser to pay accrued interest.
Starbuck School District No. 1150 (P. 0. St. Eustache),
Man.-Debenture Election.-Reports state that an election
will be held Nov. 15 to vote on a by-law to issue $12,000
531% 20-year school debentures.
Vancouver, B. C.-Debentures Voted.-The $675,000
bridge and $400,000 water-works 4% 40-year debentures
mentioned in V. 89, p. 877, were authorized at the election
Oct. 23, the former by a vote of 1,241 "for" to 249 "against"
and the latter by a vote of 1,272 "for" to 174 "against."
Viscount, Sask.-Debenture Offering.-C. A. Shannon,
Secretary-Treasurer, is offering for sale $1,000 permanentimprovement debentures.
Vonda, Sask.-Debenture Sale.-G. A. Stimson & Co. of
Toronto have purchased $1,600 6% town-hall debentures
due part yearly for twenty years and $1,000 6% sidewalk
debentures due part yearly for ten years.
Watrous, Sask.-Debenture Sale.-It is reported that an
issue of $15,000 5% debentures has been awarded to Nay
& James of Regina. Maturity part yearly for 15 years.
Winnifred School District No. 1924, Alta.-Bond Sale.On Sept. 10 a $1 ,200 6% school-building debenture was
awarded to the Manufacturers' Life Insurance Co. for $1,250
-the price thus being 104.166.
Date Nov. 1 1909. Interest annual.
from 1910 to 1919 inclusive.
MISCELLANEOUS.
Maturity part yearly on Nov. 1
ACCOUNTANTS.
OFFICE OF THE
ATLANTIC MUTUAL INSURANCE COMPANY.
New York, January 21st, 1909.
The Trustees, in conformity with the Charter of the Company, submit the following statement of its affairs
on the 31st of December, 1008.
Premiums on Marine Risks from 1st January, 1908, to 31st December, 1908
$3,307,807 24
Premiums on Policies not marked oft 1st January. 1908
743,389 01
Total Marine Premiums
$4.051,196 25
Premiums marked off from 1st January, 1008. to 31st December, 1908
$3,333,483 55
Interest received during the year
Rent less Taxes and Expenses
$307,823 39
142,032 22
$449,855 61
Losses paid during the year which were estimated in 1907
and previous years
$420,655 46
Losses occurred, estimated and paid in 1908
1,274,822 22 $1,695,477 68
Less Salvages
Re-insurances
1279,988 33
199,555 37
Arthur Young & Co.
Certified Public Accountants
(ILLINOIS)
New York, 30 Pine Street
Milwaukee. 633
ells Bldg
Chicago, 1315 Monadnock Block
Kansas City, 1100 liommerce Bldg.
479.543 70
$1,215.933 98
Returns of Premiums
Expenses, including officers' salaries and clerks' compensation, stationery,
newspapers, advertisements, etc
$51,930 45
$344,266 85
ASSETS.
United States & State of New York
Stock, City, Bank and other Se15,442,792 00
curities
Special deposits in Banks &TrustCos. 800,000 00
Real Estate cor. Wall & WilliamSts..
Place_$4.209,42
Exchange
6
04
&
Other Real Estate &
claims due the com75,000 00 4,374,426 04
pany
Premium notes and Bills Receivable
Cash in the hands of European
Bankers to pay losses under policies payable in foreign countries_
Cash in Bank
Aggregating
LIABILITIES.
Estimated Losses and Losses Unsettled
$2.310,433 00
Premiums on Unterminated Risks_
717,712 70
Certificates of Profits and Interest
Unpaid
260,822 35
Return Premiums Unpaid
121,473 65
Certificates of Profits Ordered Iledeemed, Withheld for Unpaid
Premiums
22.339 35
Certificates of Profits Outstand1,377,905 06
ing
7,363,410 00
Real Estate Reserve Fund____
270,000 00
399,031 95
429,950 18
$12,824,105 23
Aggregating
$11,066,191 05
LYBRAND,
ROSS BROS &
MONTGOMERY
Certified Public Accountants
(Pennsylvania
)
Land Title Building
PHILADELPHIA.
City Investing Bldg., 165 Broadway
N
YOR14.
Union Bank Building
PITTS BURGH
First NaoI..nal Hank Bldg.,
WI WAG..
JAMES PARK & CO.
CERTIFIED
PUBLIC ACCOUNTANTS
New York,Ohicago, Cincinnati and
London, England.
A dividend of interest of Six per cent on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the second of February next.
The outstanding certificates of the issue of 1903 will be redeemed and paid to the holders thereof, AUDITORS FOR FINANCIAL
INSTITUor their legal representatives, on and after Tuesday the second of February next,from which date all
TIONS, INDUSTRIAL AND
Interest thereon will cease. The certificates to be produced at the time of payment and canceled.
MINING COMPANIES
A dividend of Forty per cent is declared on the net earned premiums of the Company for the year
ending 31st December, 1908, for which, upon application, certificates will be issued on and after Investigations, Financial Statements.
Periodical Audits and Amounting.
Tuesday the fourth of May next.
By order of the Board,
(1. STANTON FLOYD-JONES. Secretary.
TRUSTEES.
GUSTAV AMSINCK.
HERBERT L. GRIGGS,
NICHOLAS F. PALMER.
FRANCIS M. BACON,
CLEMENT A. GitISCOM,
HENRY PARISH,
JOHN N. BEACH,
ANSON W. HARD,
DALLAS B. PRATT,
WILLIAM B. BOULTON,
LEWIS CASS LEDYARD,
CERTIFIED PUBLIC ACCOUNTANTS
GEORGE W. QUINTARD.
VERNON H. BROWN,
FRANCIS H. LEGGETT,
A. A. RAVEN,
WALDRON P. BROWN.
CHARLES D. LEVERICH,
56 Pine Street, - NEW YORK
JOHN L. RIKER,
CLAFLIN,
LEANDER N. LOVELL,
JOHN
DOUGLAS ROBINSON,
Telephone 4201 John.
GEORGE H. MACY,
GEORGE C. CLARK,
GUSTAV H. SCHWAB.
CLEVELAND H. DODGE,
CHARLES H. MARSHALL,
WILLIAM SLOANE,
ELDERT,
CORNELIUS
W. H. H. MOORE,
ISAAC STERN,
RICHARD H. EWART
WILLIAM A. STREET.
A. A. RAVEN, President.
CORNELIUS ELDER''', Vice-President.
SANFORD E. COBB. 2d Vice-President.
CERTIFIED PUBLIC ACCOUNTANTS
CHARLES E. FAY. 3d Vice-President.
80 Broad Street, New York
JOHN H. JONES &THWART. 4th Vice-Pre:Men
Te1.4918 Broad.
ALFRED ROSE & CO.,
LOOMIS, CONANT & CO.
@FedFRASER