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INCLUDING
Bank and Quotation Section (Monthly)
Railway and Industrial Section (Quarterly)
VOL. 87.
State and City Section(Semi-Annually)
Electric Railway Section(ni70;,Ties)
SATURDAY, OCTOBER 10 1908.
Wire Thronitte.
1908.
Terms of Subscription-Payable in Advance
For One Year
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Six Months Subscription in London (including postage)
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$11 50
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WILLIAM B. DANA COMPANY,Publishers,
P.O.Box 958. Front. Pine and Depeyster Ste.,
New York.
Published every Saturday morninT by WILLIAM B. DANA COMPANY.
William B. Dana,President; Jacob Seibert Jr., Vice-Pres. and See.; Arnold
G. Dana,Treas. Addresses of all,Office of the Company. •
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis _
Columbus
Toledo
Peoria
Grand Rapids__
Dayton
Evansville
Kalamazoo
Springfield, Ill
Fort Wayne _ -Youngstown _ _
Akron
Lexington
South Bend
Canton
Rockford
Quincy
Bloomington _
Springfield, Ohio
Decatur
Mansfield
Jackson
Jacksonville, Ill _
Ann Arbor
Adrian
Danville
Tot. MId.West.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &e., indicates
that the total bank clearings of all clearing houses of the U.S.
for week end. Oct. 10 have been $2,631,125,166, against $2,624,654,250 last week and $2,806,375,984 the week last year.
Clearings-Returns by Telegraph Oct. 10.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louts
New Orleans
1908.
1907.
P.C.
$1,331,989,130
118,757,582
86,328,184
20,535,183
199,760,465
51,621,177
12,046,760
$1,326,353,746
118,466,831
109,936,227
26,482,961
213,715,350
60,600,797
14,751,254
+0.4
+0.2
-21.5
-22.5
-6.5
-14.8
-18.3
Seven cities,5 days
Other cities, 5 days
$1,821,038,487
403,344,281
$1,870,307,166
445,217,682
-2.6
-9.4
Total all cities, 5 days
All cities, 1 day
$2,224,382,768
406,742,398
$2,315,524,848
490,851,136
-3.9
-17.1
$2,631,125,106
$2,806,375,984
-6.2
Total all cities for week
The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week has
to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Oct. 3, for four years.
Week ending October 3.
Clearings at1008.
1907.
Inc. or
Dec.
1906.
1905.
$
$
$
New:York
1,544,702,434 1,784,947,442 -13.5 2,255,&2,372 2,049,158,442
Philadelphia
121,716,264 151,121,418 -19.5 165,030,405 166,346,664
Pittsburgh
37,697,847
53,841,732
55,954,458 -32.6
52,124,716
Baltimore
24,772,537
29,978,776
33,038,524 -25.0
31,422,357
Buffalo.
8,824,181
8,878,804
9,749,699 -9.5
7,802,855
Washington _
5,377,264
6,375,126
6,693,943 -19.7
6,126,610
Albany
6,230,156
5,903,652
5,820,841
6,191,767 +0.6
Rochester
4,168,480
4,941,285
4,542,370 -8.2
4,158,718
Scranton
2,523,924
2,100,000
2,066,189
3,444,341 -26.7
Syracuse
2,072,848
2,068,429
1,870,914
2,527,824 -18.0
Reading
1,468,178
1,546,766
1,506,364
1,645,647 -10.8
Wilmington
1,309,371
1,521,849 -13.9
1,380,175
1,428,461
1,193.301
Wilkes-Barre _
1,251,576
1,051,081
1,234,068 -33.2
‘Vheeling
1,346,727
1,012,954
974,452 +38.2
1,071,495
1,090,689
Harrisburg
1,032,013
1,170,217 -6.8
752,958
York
948,241 -20.6
532,000
712,443 -25.3
608,738
Erie
554,253
5:30,000
88.3,227 -40.0
Greensburg
588,038
486,160
525,635
610,388 -13.9
601,669
Chester
533,648
445,900
604,100 .--26.2
620,600
Binghamton _ 551,400
275,000
278,273 -1.2
Franklin
305,987
195,853
1,340,673 Not included in total
Trenton
424,107 Not included in total
Altoona
Total Middle
1,770,555,694 2,068,844,681 -14.4 2,543,095,097 2.334,277,021
Boston
Providence
Hartford
New Haven
Portland
Springfield
worcester
Fall River
New Bedford Ilolyoke
Lowell
151,657,693
6,8.39,900
3,377,058
2,300,000
2,617,674
1,712,960
1,5435,202
897,972
762,130
474,164
459,702
163,712,385
8,052,100
3,851,947
2,867,807
2,985,425
2,055,000
1,713,198
1,038,981
874,011
575,611
538,297
Total New Eng.
172,664,455
188,264,762
Week ending October 3.
Ckarings al
-
PUBLISHED WEEKLY.
-7.4
-15.1
-12.3
-19.8
-12.3
-16.6
8.6
-13.6
-12.8
-17.5
-14.7
182,216,432
7,959,300
4,061,581
2,736,706
2,737,054
1,917,423
1,678,207
1,045,276
727,383
674,253
529,822
171,380,870
7,983,100
3,499,066
2,598,794
2,447,63:3
1,973,800
1,746,768
1,031,467
640,065
525,706
528,305
-8.3
206,284,431
194,355,574
San Francisco__ .
Los Angeles
Seattle
Portland
Salt Lake City _ _
Snokane
Tacoma
Oakland
Helena
9an Jose
Fargo
Sioux Falls
Stockton
Sacramento _ _
San Diego
Fresno
North Yakima _
Billings
Total Pacific_
Kansas City _ _ _
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City
Davenport
Lincoln
Wichita
Topeka
Colorado Springs
Cedar Rapids_ _
Pueblo
• Fremont
Tot. oth.Weet
Total Southern
Inc. or
Lee.
1907.
$
232,801,845 263,867,699 -11.5
22,435,250
26,569,250 ---15.6
14,896,001
19,288,558 ---22.8
12,323,436
14,195,306 ---13.2
11,782,642
13,297,132 ---11.4
7,484,412
8,272,016 -9.5
5,666,000
5,682,800 -0.3
3,021,255
4,142.960 --27.1
2,401,938
3,390,793 --29.2
2,086,361
2,549,655 --18.2
1,647,107
1,986,229 ---22.1
2,191,568 --16.7
1,824,7151
1,361,698 ---38.6
835,0721
856,757 --3.6
826,2781
839,374 • --6.6
784.5441
877,306
587,8401
700,000 --11.4
620,0001
658,829
--17.8
565,500
635,482 --32.4
431,215
450,000 A-40.0
630,000
544,798 --9.5
492,179
503,893 +4.8
527,675
535,213 ---20.2
427,825
A-6.7
425,000
427,833
479,198 --30.0
336,089
360,915 ---24.2
265,571
228,385 +56.2
356,789
287,314 --1.8
282.196
166,114 +25.2
207,936
20,606
25,000 --17.6
290,077 Not Included In total
1906.
1905.
228.324,460
26,989,100
15,326,504
13,381,904
11,310,310
6,950,502
4,875,400
3,704,760
2,954,246
2,435,326
2,004,794
1,636,066
1,189,968
877,762
801,850
704,364
675,813
620,896
559,934
492,396
445,908
448,257
433,648
421,071
317,812
334,182
210,000
223,924
175,284
3
217,988,703
26,054,800
16,892,667
12,939,177
9,226,735
7,202,642
4,961,200
3,934,121
3,661,9
2,583,3
1,940,11
1,401,085
811,840
810,302
828,680
616,940
512,100
570,229
492,486
552,280
446,207
376,070
438,6W
350,234
342 401
353,508
192,500
267,061
153,619
374,538,242 -12.7
331,826,421
315,953,195
47,480,099 -16.5
39,609,586
10,894,490 -17.0
9139,793
8, 92,802
11,227,235 -19.9
7, 50,000
7,853.693 -10.2
4,698,835
5.740,733 -18.2
7,000,000
7,794,314 -10.2
5,031,979
5,059,576 -0.5
1,672,385
2,991,756 -44.1
700.0'0
1,221,118 -42.6
560,654
720,074 -22.1
509,588
547,318 -6.9
700,000
725,000 -3.4
496,000
550,000 • -9.8
839,000 Not Included in total
Not included in total
612,026 Not included in total
236,711 Not included Id total
161,068 Not Included In total
48.270.872
11,790,329
11,968,603
6,306,016
4,907,763
5,651,347
4,500,000
3,494,145
1,197,630
331,660
604,516
441,728
40,272,015
10,089,802
8,046,288
6,228,961
4,179,952
3,933,938
t3.375,039
27 t491.038
86,061,922
102,755,406 -16.4
99,464,659
78,423,397
40,647,681
28,704,590
12,310,620
10,752,069
8,609,047
5,099,916
3,145,965
2,603,044
1,482,593
1,280,713
1,281,885
1,017,064
700,000
838,395
488,321
371,416
39,030.162
32,201,160
12,38.3,528
10,870,447
9,099,881
5,360,711
3,562,240
2,772,139
1,585,690
1,468,926
1,303,301
- 961,382
742,503
729,134
428,498
385,306
326,897,208
119,393,319
St. Louts
New Orleans
Louisville
Houston
Galveston
Richmond
Savannah
Atlanta
Memphis
Nashville
Fort Worth
Norfolk
Augusta
Birmingham -.
Knoxville
Charleston
Jacksonville _ _ _
Mobile
Chattanooga __ _
Little Rock
Oklahoma
Macon
Beaumont
Austin
Vicksburg
NO. 2259.
27,312,565
27,123,65/
9,681,36
7,311,00
7,333,67 .
f4,353,064
2.864,377.
2,071,355
1,564,111
1,166,762
562,163
603,496
623,587
440,659
237,428
122,885,021 - 2.8
100,192,000
93,339,275
-11.1
-29.4
-30.6
56,980,992
23,775,866
12,997,907
14,529,954
8,589,000
6,152,302
6,048,578
5,095,172
3.765.816
3,957,844
3,117,367
2,779,545
2,446,518
2,089,910
1,700,375
1,323,837
1,972,889
1,200,835
1,424,304
1,212,520
892,227
' 988.318
380,000
57,988,650
15,270,570
12,477,731
13,207,124
7,676.000
4,846,350
7,124,637
4,743,77
5,691,13
3,845,928
2,951,822
2,607,855
3.336,370
1,984,523
1,399,048
1,812,796
1437,151
1,316,783
1,303,886
1,146,370
59,642,338
67,112.280
12,755,303
18,117.937
10,348,621
14,920.847
13,378,300
14,6751.463
8,426,000
7,002,000
5,455,004
6,285,474
5,975,541
5,56.5,113
5,417,898
5,204,254
4,513,306
4,415,427
3,000,000
5,168,457
3,894,331
4,650.000
1,948,275
2,931,708
3,367,071
2,295,970
2,244,582
1,776,294
1,715,151
1,599,713
1,765,732
1,000,000
. 1,194,120
1,150,000
1,165,693
1,495,609
1,315,075
1,409,527
1,342,916
1,475 385
1,242,591
1,000,000
819,708
767,700
411,349
456,000
607.310 Not Included
300,437 Not Included
149,081,652
+4.1
28,007,346
-10.7
27,585,067
-0.6 ' 11,195,666
-1.0
9,128,522
-5.4
7,120,817
-5.9
4,500,000
-11.7
3,101,648
-6.1
2,223,432
-6.6
1,6:34,072
-12.F
1,128,798
1,105,312
+5.8
957,465
854,968
+15.0
635,236
+14.0
532,032
391,619
-3.1
1,023,765
+20.3
-13.3
+7.4
-3.9
+2.2
-41.9
+19.4
-33.5
-31.8
-20.0
-9.1
-43.4
-21.2
-22.1
-6.7
-9.0
-19.5
-6.3
-9.8
n total
n total
172,959,689
162,719,156
869,908
402,494
5,
153,241,947
Total all
2,624,654,250 3.030,297,801
3,443,581,764 3,169,590.409
Outside N. Y _
1,079,951,816 1,245,350,359
1,188,559,392 1,120,431,967
4
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Halifax
Quebec
Hamilton
St. John
London
Calgary
Victoria
Edmonton
Total Canada
30,799,906
2.3,570,247
14,193,703
3,636,686
3,177,332
1,486,596
2,226,266
1,364,033
1,233,712
1,103,884
1,316,800
804,596
/09,037
31,507,270
25,064,011
10,207,153
4,377.833
2,896,366
1,712,220
2,384302
2,027,207
1,457,619
1,313,947
1,242,469
1,132,589
795,222
-2.2
-6.0
+39.1
-16.9
+9.7
-13.2
-2.5
-32.7
-15.4
-16.0
+6.0
-29.0
-10.8
32,936,375
• 27,552,583
11,306,506
3,160,523
2,997,138
• 2,096,335
1,988,048
1,906,892
1.406,092
1,323,025
1,232,832
1,098,519
717,245
30,130,530
25,280,601
8,850,664
2,120,744
2,827,43()
1,900,000
1,362,415
1,600,287
1,073,947
1,169,567
85,622,798
86,018,268
-0.5
89,782.113
76,976,565
660,320
.
898
THE CHRONICLE
OUR BANKERS' CONVENTION NUMBER.
With to-day's issue of our paper we send to the
reader our "Bankers'.Convention" section, or supplement. This publication is devoted to a report of the
Convention of the. American Bankers' Association
held at Denver last week.
t This Convention dealt with live topics—the question
of ..the guaranty d• bank deposits, the question of
postal savings banks, and that ever-present question
the reform of the currency. All these topics were
ably disCussed in the speeches and discussions at the
Convention, as also in the reports of the various committees, and the reader will find it profitable and interesting to peruse what is said on these matters.
Besides reporting in full the proceedings of the parent organization, we also ,print the detailed proceedings of those two important subsidiary. bodies, the
Trust Company Section and the Savings Bank Section.
• THE FINANCIAL SITUATION.
At a moment when our own political complications
were dominating the course of events here, the whole
prospect of affairs in Europe and America was suddenly changed by the announcement on Monday that
Bulgaria had declared its independence of Turkish
rule and that Austria had announced its purpose to
annex the provinces of Bosnia and Herzegovina.
This news at the time was considered very grave and
the financial centres at London and on the Continent
were thrown into a veritable scare under the fear of
a general European entanglement. Our stock market of course felt the Shock and stock values declined.
The prevailing opinion was much less apprehensive
the following day, very few joining in the belief that
anything so fearful as ayar between the civilized Powers
of Europe was likely to be the outcome. Wednesday and since then the elements existing have again
become unsettling, even the Cretans having,as a later
outgrowth, proclaimed independence of Turkey.
A majority, if not all, of the important Powers are,
however, intent so far as possible on preventing the
spread of the mischief threatening. Bulgaria is prepared for the struggle, with its army in capital condition and the whole population enthusiastic. If the
affair could be stopped with her freedom established,
it would meet with quite general approval. The chief
danger growing out of that feature of the situation
is that Turkey may resist the Bulgarian movement
and the parties open a bitter contest before diplomacy
can get its work in. But the declaration published
simultaneously by Austria-Hungary of its having
taken possession of the two provinces mentioned—as
if it were really premeditated and intended to be a
part of the initial act--together with the later statement that the annexation was unalterable, opens up
a far more serious condition. It makes the whole
affair look as if it had a leading organizer and the
design was' to upset the Treaty of Berlin. On a subsequent page will be found an article treating of these
matters more fully. So far as our Stock Exchange is concerned, these movements have ceased to
be the most material factor; though so long as such
disturbing differences exist in Europe, they are likely
to produce nervousness here, especially as Europe is
reported to be selling our securities freely, which, if
(VoL. Lxxxvi
continued, may be followed later by withdrawals of
gold from New York.
The variations, however, in Wall Street affairs since
Tuesday have reverted in good measure to home influences. These have been varied, as they are in part
general and in part special. Thus, on Wednesday,
and more or less on subsequent days, there were declines and advances,due to disappointed expectations
and renewed hopes and realization of dividends on
special properties, each of which either encouraged or
discouraged speculation. It should be remembered,
however, that the tendency of the market, if left to
daily home happenings, is to advance. Of course,
at the moment politics is the chief general influence,
the assumption being that Taft will have more than
enough electoral votes to ensure his success; and if
he is elected the expectation prevails in some circles
that the energy which has been pent up and forced
to lie inactive during the politicid canvass will burst
the barriers that have restrained it and rush down
boomingly upon Wall Street, ending in a speculators'
carnival. That phantom is not shared in by the
older heads.
Of course, with the uncertainties and anxieties of
election at an end,we may look for a certain sensation
of relief, but we cannot jump into industrial recovery;
that would leave too many obvious hindrances now
existing uncured. It may be asked, have we not
abundant crops meeting active consumption at high
prices, and are not these recuperative agencies giving
all the farming sections fresh money to spend, and
must not that impart a new life to our manufactures,
and both these agencies furnish business for our railroads? Crops are most certainly one factor for repairing, recruiting and retrieving industrial strength
lost. That, so far as it goes, is a very hopeful feature.
But what the country needs for real progress is the
opening up of every other department of business to
similar opportunities—not barely existing as if each
had no right to prosperity, every Congressman and
every State legislator making it his chief study to
deprive them of some of their natural privileges
until they have sapped the very foundations of
income. This has been the course in recent years.
So long as prosperous trust companies or corporations of various kinds are looked upon as dangerous
elements because they are making money, so long
as jealousy of capital exists to such an extent that
capitalists would rather live on what they have
accumulated than undertake new enterprises, so
long as our carriers, our greatest industry, are forced
to economize to the last dollar to enable them to
continue as going concerns, there can be no great
progress. Live and let live is a doctrine we have
got to re-learn. We have been seeking prosperity
by barring all the avenues ,that make for it except
the farming industry.
The long unsettled contest over the so-called
"joint rate!' between the Metropolitan surface lines
and the Belt line is brought again to mind by reports
that the Public Service Commission "has about
made up its mind" to order a one-fare rate, although
it will give a hearing, for the sake of appearances.
Whether the order will assume to dictate the division
of the nickel is not yet confidently asserted, although
OCT. 10 1908.1
THE CHRONICLE
the report is that the Commission considers that one
cent to the Belt and four cents to the other would be
about right. The reported order may be taken as
quite sure to come, because there is a popular,desire
for one fare rather than two, and there does not seem
to be any excuse for the existence of the Commission
unless it is to gratify the public wish. The division
of the single nickel seems, however, to be an insoluble problem if it is to turn upon relative distances, for it will never be possible to ascertain exactly
the number of miles traveled over the two lines
respectively by passengers using a transfer; this
might be left to the lines to decide, with the Commission as referee if the wrangle were too much
prolonged. Or if the Commission is satisfied that
one cent is a fair remuneration for the Belt line, why
is it not strictly honest to fix on a single rate, but
make it 6 cents or 5 tickets for 30 cents That would
be the honest method.
The question of principle may go much farther and
needs to be kept in mind. If either line had tried
the experiment of selling eight tickets for a quarter
and had abandoned it, a protest would have been
aroused, as has been in some cases already mentioned; and then, as in those cases, the question
would have arisen whether a common carrier is
estopped from withdrawing a concession it has once
granted. The right of a carrier to make pleasant
grants or reduce rates is always admitted, since
nobody dares rise to dispute it; but does a grant
of something or a reduction of some fare operate as
a perpetual estoppel against reversal, and why?
Rates may always go down; hut why are they estopped
from going up?
The question of the right and power of an outside
tribunal to not merely decide in cases of alleged
discrimination between individuals but to actually
make rates for carriers is a deeper one, which may
be deferred, yet must come to settlement. These
surface lines do not belong to the city or to the
State; they are personal property, charged (at most)
with some public duty. If this Commission may
force two of them to agree somehow on a transfer for
one nickel, it may order either of them to make a
single rate of three cents, which would be still pleasanter
for the public; if the power to make rates exists,
it is absolute. It may not proceed to the extreme of
confiscation, but it is the Constitution which says
that; the power conferred by the Commission law
is not limited, and it could not be limited without
naming rates in the law itself. As a case which is
nearly enough parallel to serve as illustration, the
New York Central and the Delaware & Hudson
form, at Albany, a sort of L or right-angled junction,
from which passengers are going,every few hours,from
one road over the other. We may imagine people
wanting to travel over both roads for a single fare
paid to one of them, and the Commission ordering
this pleasant arrangement, and even suggesting
(or perhaps dictating) how the two shall divide
the money. If this seems absurd, and if anybody
says it could not be done, why not? If the Commission, representing the State and wishing to give
people what they want, can coerce the surface roads
in Manhattan, without regard to arithmetical possibilities, why could it not coerce the larger roads?
What shall draw the line between the feasible and the
899
non-feasible, the right and the wrong, and how do
we know when attempt will be made to push the
thing to its consistent extreme?
Just now we are in a political campaign, and not
quite as well able to see clearly as in ordinary times;
but a few weeks will put all that aside, and we must
then come to these deeper and enduring questions.
It is now said that the contemplated order by the
Commission for the joint rate may lead to question:ing the constitutionality of the law, but that the
Commission doubts whether this will follow. It
seems idle to entertain such a flattering doubt; the
constitutionality is already in question, in a pro.ceeding now pending, and it inevitably must come
to the test on broader grounds than in that proceeding. For the most fundamental question is whether
private capital—after having gone into certain transportation properties, in a time of quiet and with
assurance of protection—can be put at the mercy
of an outside tribunal, not only as to possible returns
upon this capital but as to even its existence.
Receiver Whitridge of the Third Avenue line told
us some time ago that the Commission has bombarded him with orders, some of which were impossible financially and others impossible physically;
now the Metropolitan receivers tell us that the orders
upon them have been "unreasonable," "unwarranted"
and such as, if followed,would have produced "a general chaos of surface transportation conditions." It
is serious enough that such an interference, as Mr.
Whitridge said, adds to trouble, of which there is
never-anygreat lack; but the vital legal question must
come to determination ere long.
The most startling event of the week, involving.
as related above, the governments of six European
States in the Balkan territory that have been subject
to Turkish rule, and also Crete, which has been under
the domination of Turkey, with the announcement
of the annexation by Austria-Hungary of Bosnia and
Herzegovina produced a fear in Europe of a general
war.
All the European markets were more or less affected
on Monday by the news from the Balkans, some of the
details of which were received on Sunday, the Austrian
Emperor's note to the President of France having, on
the previous day, been made public at Paris, disclosing
an intention to annex Bosnia and Herzegovina. At
London consols fell
of 1% and Turkish bonds
were freely sold, causing important recessions; Americans were affected, as also were Russians, and, indeed,
all the active properties, and the bonds of the Balkan
States yielded to the pressure of liberal selling; the
tone at the close of Monday indicated an improvement.
On Tuesday, after opening weak on Continental selling,
the London market recovered, chiefly because of
supporting orders and more assuring news regarding
the Balkan situation. Wednesday the foreign markets
were less excited, though lower,as the news indicated
that Servia and Turkey had vigorously protested
against Austria-Hungary's course. Another incident
was the proclamation by Crete referred to above.
Thursday the Balkan situation developed a more acute
stage. Turkey took measures to assert her control of
Crete, the Albanians were reported as having decided,
upon independence of Turkey, and the European
markets generally were depressed. It was announced
900
THE CHRONICLE
1VoL. txxx-vrt.
41.11.4,
that Russia had withheld her recognition of the an- significant cross-town line which ran at rather long
nexation of Bosnia and Herzegovina by Austria and intervals, with a small car or two, between Fulton
that Great Britain, in opposing a •conference of the ferry and the foot of Barclay and Cortlandt streets
Powers, preferred that the question in dispute be on the west side. To the great multitude this was
settled without reference to the representatives of the of so little service that they hardly knew of its exPowers; if this shall be found impossible, "Great istence; but it was of great convenience to a few,
Britain's next step will be to use her best offices to especially to persons from Brooklyn, laden with
limit the scope of the conference so as to protect the hand luggage, who had to go between Fulton ferry
interests of Turkey."
and two of the railroad ferries on the North River.
It is thought probable that the disinclination to rely Of course this little convenience never paid any
upon a conference of the Powers to aid in the settle- profit; it was merely lumped in with the rest of a
ment of the Balkan troubles was the fear that it great system in which it bore a small part. When '
would disturb all political conditions. Among these the disintegration came about, one of its results
the Russian loan negotiations which were pending was the stoppage of this car or two cars, and since
had to be deferred. Other international borrowings then the persons who used it and now miss it have
that were also in contemplation could not be under- had to shift as they could.
taken while Europe was in a turmoil with uncertain
Some individuals calling themselves by the large
results. It is noteworthy that upon the receipt of title of the Greater New York Traction Co. recently
news of Bulgaria's declaration of independence, ex- filed articles of incorporation in Albany, and the
change at Paris on London fell sharply; on Commission will be asked to grant an appropriate
Monday Paris secured the bulk of the Cape gold, certificate. The application sets forth a desire to
which was then offered in the London bullion market— build and operate an electric line in Fulton, William
actively competing for the metal. This would seem and Cortlandt streets, and in Maiden Lane, thus
to indicate a purpose by the Bank of France to con- connecting once more the above-mentioned ferries,
tinue to accumulate gold, notwithstanding its present and also connecting the cross-town service with the
holdings are 130 million pounds sterling, which old bridge; very desirable objects. An additional
enables it to dominate the European financial situation, specification of general interest is that the proposed
even though the political complications should result in fare is three cents. Whether any plan for some
war and cause large requirements for military arma- further extension later—possibly for joining the
ments.
bridge, for instance—lurks behind this modest beThe new plan of taxation by Germany for the relief ginning does not appear, nor have the moving parties
of the Government was briefly outlined by us in our disclosed themselves. It is of interest, at least, to
issue of Sept. 26. The plan is now officially elaborated note that this proposition for reduced fares is disby Herr Reinhold Snydon, Secretary of the Imperial tinguished by not being openly made at the public
Treasury, who stated that the depreciation in the expense.
quotation of Imperial and State loans and "the inVice-President Calderwood of the Brooklyn Rapid
creased interest demanded for fresh issues render Transit, in an article in a technical journal, says
reform imperatively necessary." The difficulty is that he has been watching with great interest the articles
the system of borrowing in order to carry on the Gov- on traction development in Cleveland, as he would
ernment must, he says, be abolished. The task is to follow any proposition which looks to carrying more
equalize the revenue and expenditure. Instead, how- than five miles for a nickel and making the investever, of applying the remedy to expenditure, the ment both profitable and secure. Consolidations
proposal is to increase the revenue by new taxation. between various lines, operated by varying means
Luxuries are to be made the source of the added and widely varying in quality, have been effected,
revenue. It is quite notable that while complaint is thus converting separate fares into a single fare.
so freely made of the Government borrowings, Ger- :Up to date, those who have gained by this and have
many has an abundance of capital which is being put not lost anything are the users of the cars as such,
into domestic loans. More than double the takings the real estate owners, persons who have put their
of those kinds of securities have been absorbed the earnings into small homes, persons who have been
current year by syndicates of bankers than were aided to shift their habitat outward to more favorable
in 1907.
conditions, and (lastly) the city as a city, because
The taxation scheme is, of course, criticised, par- it has thereby been able to greatly raise its assessed
ticularly that portion which provides for taxes, amount- valuations and revenues. Obviously, all this is large
ing to 15 millions sterling annually, on wine, beer, and 'valuable gain; but there is another side; for
spirits and tobacco. The general view is, however, while some promoters who sold out at the right
favorable, and it is thought likely that the scheme time have profited, the majority of the investors
will have the approval of the majority in the Reich- who continued to own or have since purchased the
stag. Such, it seems, will certainly be the case if war securities "are the interested parties at the present
shall result. from the disturbance in the Balkans; in time," which is a euphonious way of saying that
that event the German people will be expected to they are caught and are not able to unload.
rally to the support of the Government in any measure
The evolution in electric transportation (of course,
that may be provided for its needs.
because it is electric) has been gigantic. The old
12-foot horse-car and the early electric car have
The continued persistence of a few horse-car surface been displaced by the large cars now familiar, which
lines in Manhattan is because overhead systems are cost ten times as much as the horse car that carried
not permitted here and these minor lines will not bear people for a shorter distance. These changes, plus
the cost of electrifying. One of them was the in- consolidations and track connections, have stretched
OcT. 10 1908.1
THE CHRONICLE
901
in condition the crop of 1908 shows, as contrasted
with that year. With those two exceptions, however, the current promise is for a, yield in excess of
all other years. In fact, on the basis of the October
1 condition percentage and the acreage planted,
the outlook appears to be, for a crop of about 2,615,000,000 bushels, against 2,592,320,000 bushels in
1907.
The conditions of weather, which have been instrumental in holding down the promise of corn
yield almost from the time the seed was put in the
ground, are too well known, and have been so often
referred to that they need be but briefly touched upon
here. Drought following • excessive moisture of the
spring and continuing more or less throughout the
season over the whole area planted, forced early
maturity at the expense of yield. But in considerable measure, according to reports, farmers have been
compensated for loss in quantity by the high quality
.
of the corn harvested.
Preliminary estimates of the average yield, per
acre of a number of cereal and.other crops are also
a feature of the October report, the Department in
each case placing its own interpretation of the yield
indicated by the average given. Thus for spring
wheat the average outturn is stated at 13.2 bushels
per acre, or a little under the six-year average, and
this is interpreted to mean an aggregate production
of 233,090,000 bushels, or about 83' million bushels
more than in 1907, 931 million bushels below .the
1906 total and 3132 million bushels less than in
1905. Combining this spring-wheat result with
the estimated yield of the winter variety—as given
heretofore by the Department at 425,940,000 bushels
—make.s the total wheat crop the current season
659,030,000 bushels in 1908, which contrasts with
634,087,000 bushels in 1907, 735,260,970 bushels in
The grain crop report of the Department of Agri- 1906 and 692,979,489 bushels in 1905. The record
culture for October 1, issued'on Wednesday, indicated crop, raised in 1901, was 748,460,218 bushels.
The oats crop indication is placed at 24:9 bushels
a moderate deterioration in corn from the condition
as given a month earlier. The report, as issued, per acre on the average, as against 23.7 bushels in
made the average condition of that cereal 77.8, 1907, 31.2 bushels in 1906 and a ten-year average
again.st 79.4 on Sept. 1 this year, 78 on October 1 of 29.8 bushels, the aggregate yield for 1908 being
1907, 90.1 in 1906, 89.2 in 1905 and a ten-year aver- given as approximately 789,161,000 bushels, and
age of 79.7. The condition in the larger producing comparing with 754,443,000 in 1907 and 964,904,522
States was given as follows: Illinois, 72 October 1 bushels in 1906, which was a slightly greater outthis year, against 86 a year ago; Iowa, 80, against turn than for 1905. The 1902 crop, which made
70; Missouri, 71, against 84; Nebraska, 80, against the record, was 987,842,712 bushels. As regards
69; Indiana, 67, against 84; Kansas, 69, against 67; barley, the outlook is relatively better, as compared
Texas, 83, against 78; Ohio, 82, against 78; Okla- with earlier years, than for the grains already referred
homa, 73, against 67 and Kentucky, 75, against to. A larger yield than in 1907 is indicated by the
88. The corn report, being quite in consonance with Department's information, being expected to reach
general opinion, had been pretty well discounted, an average of 25 bushels per acre, or 167,212,000
and was therefore not a noticeable market factor. bushels for the whole country, against an average
While the condition of corn this year is only two- of 23.8 bushels, or an aggregate of 153,597,000 bushels
tenths of a point behind last year and but 1.9 points in 1907, and an average of 28.3 bushels, or a total
lower than the ten-year mean, it is of course much of 178,916,484 bushels in 1906, that year being the
below either 1906 or 1905. Compared with 1906, only one to exceed the present season's yield. The
when the country's record corn crop was harvested, preliminary estimate of rye at 16.4 bushels per acre
there is a decline in condition of 12.3 points, so that indicates a crop of 30,921,000 bushels, which comthe addition made to area in the interim (4.4%) pares with 31,566,000 bushels last year, 33,374,833
will be only partly effective in making up the bushels in 1906, and a record crop, grown in 1902,
deficiency in yield per acre thus portended. Con- of 33,630,592 bushels.
Hay reports denote a better yield per acre than a
•sequently a close approximation to the 2,927,416,091
bushels crop of 1906 cannot be expected. The year ago-1.52 tons, against 1.44 tons—the aggreincrease in area since 1905, moreover, has not been gate production being estimated at 67,743,000 tons
great enough to counterbalance the 11.4 points drop (the greatest on record), against 63,677,000 tons in
the trips in Brooklyn as far as twenty miles, transfer
included, and all for the original nickel, which has been
shrinking through the increase of distance and also
by the increased ton-mile weight per passenger carried. This last consideration would hardly occur to
the non-technically versed passenger, who simply
enjoys the more comfortable car while grumbling because the immovable nickel does not purchase even
more; but in figuring the economic side of any sort of
vehicle-using, it is a known rule that the net cost
of the work rises with the decrease in the proportion
of the paying load to the total load—that is, the
larger the ratio of "dead weight" to be hauled, the
harder the conditions. Labor and materials have
risen in cost, and the margin between gross revenue
and gross cost per passenger has decreased. City rail
transportation, says Mr. Calderwood, is a plain
business proposition, notwithstanding promoters have
often fooled both themselves and investors by overestimating the value of franchises as related to possible net earning power. He sees the situation summed
up in three questions: whether the greatest possible
factor of economy in operation has been reached;
whether the companies receive enough revenue per
passenger; and whether some cooperative definite
arrangement between traction companies and municipal authorities is not necessary before private
capital can be attracted for further development of
traction facilities.
It is much easier to put such questions than to
answer them. But they at least remind us anew that
there are two sides to the problem of better and
larger service for lower fares, and that this problem
is not one to be disposed of by a statute turning
it over to the unguaranteed wisdom and uncovenanted
justice of a governing commission.
,
•
,
,
902
THE CHRONICLE
1907 and 57,145,959 tons in 1906. While the grain
crops will undoubtedly in the aggregate show an
excess over the total for the previous year, there
has been a marked falling off from the promise the
early season seemed to offer. How moderate the
increase over last year is and how great the deficiency
from 1906 will be better realized when we state that
the combined total of corn, wheat, oats, rye and
barley for this year is 4,261,354,000 bushels. This
compares with 4,166,013,000 bushels in 1907, 4,839,872,900 bushels two years ago, 4,519,326,398
bushels in 1905 and 4,081,466,476 bushels in 1904.
, The potato crop, according to the Department's
advices, will give a very much reduced yield this
season, judging by the average condition percentage,
which is noted as only 68.7 on October 1, against
73.7 September 1 this year, 77.0 on October 1 1907,
82.2 in 1906, 74.3 in 1905 and a ten-year average
of 76.3. It is probable ,therefore, that the current
season yield will not materially, if at all, exceed that
of 1905-260,741,294 bushels. The record crop was
332,830,300 bushels in 1904, the 1906 outturn exceeded 300 millions and 1907 gave only 2 millions
below that figure.
In the grain-crop situation outside of the United
States, as we gather from cable and mail advices,
there have been no important changes during the
month. The outlook in Canada is the one particular
bright spot, crops of all kinds turning out very satisfactorily. As regards Europe, Hungary and Bulgaria
now report better yields of wheat than were expected
a month ago, and in most countries the corn crop
promises very well. From Russia, however, official
reports are to the effect that in 45 governments out
of 72, bad crops are threatened, and the decrease
in corn yield, as compared with last year, is 'placed
at over 220,000,000 bushels. In Australia the outlook for all grains is considered to be excellent at
this time, and Argentine crops are • reported to be
doing well.
At the eighty-fifth annual session of the National
Association of Cotton Manufacturers, held in the
ball-room of the United States Hotel, Saratoga,
N. Y., on Tuesday and Wednesday of last week,
the members found much to hold their attention
and excite their interest in the recent history of the
industry. The attendance was large and representative, and a casual glance at the titles of the papers
presented indicates how thoroughly comprehensive
was the scope of the Association's deliberations and
discussions. Economic and technical subjects that
appealed strongly to the assemblage were presented
in a forceful and concise manner and called forth debate that cannot but be of enduring benefit to the
industry in general. The fact that depression in
trade has been a predominating feature since the last
semi-annual meeting was held did not cause any spirit
of pessimism to prevail; on the contrary, hopefulness was a feature.
Mr. Charles T. Plunkett, the President of the Association, reviewed its work at length, touching upon
many important topics and referring quite fully to
the efforts now making by the New York Cotton Exchange to improve its future-delivery contract. No
paper presented at the meeting was more attentively
received than that on "Standard Specifications for
[VoL. LxxxvIi.
Staple Gray Goods," by Mr. Albert F. Bemis of
Boston, Chairman of the committee appointed to
consider and report on the subject. The object desired to be attained is the standardization of cotton
manufactures,thus providing a uniform contract and
facilitating dealings between buyer and seller. Mr.
Bemis reported at length and interestingly upon what
had thus far been accomplished by the committee,
but requested further time for the completion of its
work, and the matter will not be finally acted upon
until the meeting next spring. Another paper of quite
general interest was that on "The Fifth Congress of
the International Federation of Master Cotton Spinners'
and Manufacturers' Associations" (held at Paris in
June 1908), submitted by Mr. James R. McCall, and
in which extended reference was made to the thorough
organization of the industry abroad. The subjects
covered by some of the other papers presented
showed a range of topics indicating clearly the
comprehensive nature of the deliberations of the
session.
The proposition to amalgamate the National Association of Cotton Manufacturers (representing the
North) with the American Cotton Manufacturers'
Association (the Southern organization), thus bringing into one body the cotton manufacturers of the
United States, was only casually referred to at the
meeting. But such an amalgamation has been extensively advocated and will without much doubt
eventually be consummated.
A special meeting of the stockholders of the Union
Traction Company of Philadelphia has been called
for Oct. 29 for the purpose of obtaining assent to the
proposition made by the Philadelphia Rapid Transit
Company for the use of securities owned by the Union
Traction Co., the lessee of the Rapid Transit Co.,
which desires to pledge the securities to insure the
payment of a loan of $5,000,000. As the Union Traction Co. obtained a portion of these stocks from the
Philadelphia Traction Co. when it leased that company, a meeting has been calle d for the same date of
Philadelphia Traction shareholders in or der that their
assent may also be obtained to the proposed use of
the securities. The value of the stocks concerned is
much in excess of $5,000,000, the amount of the proposed loan, and the annual income is about $100,000 in
excess of the interest on the loan, provided it is
floated at 5%. The special meetings were called
after a committee of the Union Traction Co. had
investigated the subject and approved the proposition. At the stockholders' meeting the plan of the
Rapid Transit Co. to secure the Union Traction Co.
against loss for this use of assets will be submitted.
It is now understood that the Union Traction Co. will
he protected by an assignment to it of the stock of the
Market Street Elevated Co., which is owned by the
Rapid Transit Co. This will give the Union Traction.
Co. an equity of about $10,000,000 in the new elevated and subway line. To guard the rights of the
city of P hiladelphia a sinking fund may be created
for the purpose of extinguishing the $5,000,000 debt.
The city's assent, howeve r, has already been obtained.
That Mr. P. A. B. Widener and his associates who
are members of the Philadelphia Rapid Transit board
may not act in a dual capacity, the following resig-
OCT. 101908.]
THE CHRONICLE
nations have been tendered by directors ofithe Union
Traction Co.: P. A. B. Widener, John B. Parsons,
George D. Widener, Geo. H. Earle Jr., Wm. H.
Shelmerdine and J. J. Sullivan. The resignations will
be acted upon at the special meeting on Oct. 29,
and if accepted the vacancies will be filled. Mr.
Robert Balfour, who has the support of 52,000 shares,
has been suggested as a successor of John B. Parsons
as President of the Union Traction Co. In an official
statement it is made clear that Mr. P. A. B. Widener
is the owner of 20,000 shares of Union Traction.
This is one-thirtieth of the total issue.
903
Money on call, representing bank and trust Company balances, loaned at the Stock Exchange during
the week at 11A and at 1%, averaging 1W,%; all
lending institutions quoted 1% as the minimum.
Time loans on good mixed Stock Exchange collateral
were 2/
14@23/2% for sixty and 23'@29% for ninety
days, 3@331% for four and 3Y2@39% for five to six
months. Commercial paper was quoted at 4% for
sixty to ninety-day endorsed bills receivable and 4@,
43'% for prime four to six months' single names.
The Bank of England rate of discount remains unchanged at 23/2%. The cable reports discounts of
sixty to ninety-day bank bills in London 1M@2%.
The open market rate at Paris is 2% and at
Berlin and Frankfort it is 33%. According to our
special cable from London, the Bank of England
lost £1,079,542 bullion during the week and held
£36,938,003 at the close of the week. Our correspondent further advises us that the loss was due in
greatest measure to shipments to the interior of Great
Britain, although exports were rather large. The
details of the movement into and out of the Bank
were as follows: Imports, nil; exports, £472,000 (of
which £200,000 to Turkey, £150,000 to Buenos
Ayres,£50,000 to Egypt,£50,000 to Sweden,£10,000
to Gibraltar and £12,000 French coin), and shipments
of £608,000 net to the interior of Great Britain.
The feature of the statement of the New York Associated Banks last week was an important decrease in
cash and in reserve, which caused a reduction in the
average surplus to the lowest recorded since June 27.
The cash loss shown by the average statement was
$10,041,300; the decrease indicated by actual conditions on Saturday was $11,819,200. Average deposits were reduced $9,163,600; according to the
report of actual condition they fell $12,723,500. The
average reserve decreased $7,750,400 to $42,289,150.
The actual reserve declined $8,638,325 to $38,889,300,
and, computed upon deposits, less those of $9,240,200
public funds, the reserve was $41,199,350. Average
loans increased $110,200 while actual loans decreased
$276,800. State banks and trust companies not reporting to the Clearing House expanded average loans
The foreign exchange market was active and
by $8,415,600 and deposits by $15,783,100. The loss
higher this week. In view of the disturbed
generally
incident
operations
reflected
of cash shown by banks
in the Balkans and the uncertainty
situation
the
political
to
remittances
and
also
to the October settlements
to its development, bankers were
as
existed
which
purposes.
tion
interior for crop-distribu
indisposed to draw freely, and hence remitters were
It is a remarkable fact that the news of the wide- inconvenienced. Moreover, there was liberal selling
spread political disturbance in the Balkans did not of securities for European account, which created
have even a sentimental effect upon our market for a demand for exchange; though exports of grain
money. Heretofore when such disturbances have and other commodities were large, in response to
developed, money rates have advanced in anticipa- urgent requirements, the resulting bills were intion of exports of gold, which would naturally tend to sufficient to meet the inquiry. As the market rose
diminish supplies of money. The fact that congested early in the week, offerings of grain and cotton drafts
monetary conditions now prevail and that the week's served to check the advancing tendency and specuexchanges did not indicate a European demand for lative selling was encouraged, though to a limited
our gold will explain why money rates remained extent. There was a notable demand for cables to
normal. Lenders for fixed periods did not appear to meet deficiencies in the supply of sight bills and this
be in the least apprehensive of an unusual inquiry for appeared to indicate the existence of a large short
money, even for remote dates of maturity; they were, interest. It was not until Monday that the cause
however, insistent in requiring substantial collateral for the European disturbance was clearly disclosed;
in view of the possibility of war in Europe, which there was much mystery regarding the tenor of an
would cause liquidation of securities and tend to de- autograph letter which the Austrian Ambassador
press values in our stock market. The inquiry for had delivered to the President of France on Saturday
commercial paper, other than that of choice grades, of last week, but beyond the fact that it concerned
was limited; failures of mercantile houses in some Bosnia and Herzegovina, nothing definite was known
parts of the country led to close scrutiny of names. by the public; the European financial markets were
The reduction in bank surpluses was regarded as likely not specially affected, though a heavy tone prevailed,
to have an unimportant effect; it was largely due to and exchange was easy. On Monday the proclamremittances of currency to the grain-distributing ation of the independence of Bulgaria revealed the
centres, and as the movement thence for export was cause for the political unrest; this was reflected in
large and increasing, by reason of an urgent European heavy selling of securities, including Americans,
demand, the reduced reserve was, on the whole, and exchange advanced, though, as above noted,
viewed favorably. Moreover, the reports to the the rise was partially checked by offerings of comComptroller of the Currency disclosing conditions of modity bills and the net advance in sight was comnational banks as of Sept. 23 showed large increases paratively small. On Tuesday early advices of a
of reserve to deposits in the West and South, indi- more composed situation abroad were followed by
cating the ability of these banks to meet require- reports, which proved to be unfounded, of a collision
ments for crop distribution without drawing heavily between Turkish and Bulgarian troops, and exchange
promptly responded in a sharp advance in sight. and
upon their Eastern correspondents.
904
THE CHRONICLE
in cables; London discounts rose and selling of securities was actively renewed, but commodity bills
were again liberal in volume. On Wednesday sales
of stocks for London account were large in amount
and exchange rose sharply; one feature was an advance in French cables to within a fraction of the
gold-export point, suggesting the possibility of shipments of the metal were conditions to be favorable.
TOward the close sterling rates fell sharply, on a
subsidence of inquiry influenced by reports of the
reference of the Balkan troubles to the Powers.
On Thursday, however, the situation became grave
and it seemed likely to be uncontrollable; exchange,
rose sharply, owing to large selling of American
securities; the market .closed Strong, on Friday at the
highest rates of the week.
On Saturday of. last week the market was easier
and compared with the previous day long fell 15
points to 4 8475@4 8480, short *5 points to 4 8610@
4 8615 and :Cables '10 ;points to 4 8630@4 8640.
On Monday long tOse 5 points to 4 8475@4 8485while short fell 5'points to, 4 8605@4 8610 and cable
10 points to 4'8620@4 8630. On Tuesday long
was 10 point's higher:at 4 8485@4 8490, short 30
points 'to 4 8635@4.8.640 and cables 35 points to
4 8655@4 8660. 01-1'Wednesday long fell 5 points
to 4 8470@4 8480 and short 10 points to 4 8625@
4 8630, while cables rose 10 points to 4 8660@4 8670.
On Thursday long rose 30 points to 4 85@4 8510,
short 30 points to 4 8640@4 8660 and cables 15
points to 4 8670@4868. On Friday long, short and
cables rose 25 points.
'
The'following shows daily posted rates for sterling
exchange by some of the leading drawers:
Fri.,
Oa.2
Brown
160 days 4 86
Bros. dc Co
JSIght— 4,87%
Kidder,
160 days 4 86
Peabody Az Co __ _ _'Sight_.4 873'
Bank British
160 days 4 86.
North America ___ _'Sight _ _ 4 873
Bank of
160 days 4 853
'Sight_ 4 87
Montreal
Canadian Bank
160 days 4 85%
I ofrommerce —
ISIght'.... 4 87
Heldelbach, Ickel160 daysI4 86
JSight4 873'
heimer St Co
Lazard
160 daysl4 86
ISight_s_ 4 87%
Ferns
Merchants' Bank
160 days 4 853
'Sight__ 4.87
. of Canada
Mon.,
Oct. 5
86
87%
86
873
86
87%
87
85%
87
86
87%
86
87%
85%
87
Tues.• Wed.
Oct.'
6 0c1.1
86
87%
86
873
86
873
'853
87
855
87 `
86
873
86
873
85%
87
86
873
86
873's
86
873
85%
87
846
87
86
8734
86
87%
85%
87
Thurs., Fri.,
Oct. 8 Oct. 9
86
87%
86
87%
86
873
86
873
86
873
86
87%
86
87%
86
87%
86
873
86
87%
86
87%
86
87%
86
87%
86
87%
86
87m
86
87%
The market closed on Friday at 4 8510@4 8535 for
long, 4 8675@4 8685 for short and at 4 87@4 8710
for cables. Commercial on banks 4 8490@4 85 and
documents for payment 4 8431@4 85. Cotton for
payment 4 8431104 843', cotton for acceptance 4 8490
@4 85' and grain for payment 4 849i@4 85.
The following gives the week's movement of money
to and from the interior by the New York banks.
Week ending Oct. 9 1908.
Currency
Gold
Total gold and legal tenders
Received by
Shipped by
N. Y. Banks. N. Y. Banks.
Net Interior
Movement.
$4,622,000
494,000
55,030,000 Loss
793,000 Loss
3408,000
299,000
$5,116,000
$5,823,000 Loss
$707,000
With the Sub-Treasury operations the result is as
follows.
Week ending Oct. 9 1003.
Banks' interior movement, as above_
Sub-Treasury operations
Total gold and legal tenders
Into
Banks.
Out of
Banks.
$5,116,000
26,200,000
$5,823,000 Loss
26,700,000 Loss
$31,316,000
•
Net Change in
Bank Holdings.
3707,000
500,000
$32,523,000 Loss $1,207,000
The following table indicates the amount of bullion
in the principal European banks.
[VOL. Tocxxvii.
October 8 1908.
Banks of
Gold.
I
England__ 36,938,003
France _ 130,255,164
Germany a 37,134,000
Russia d.._ 120,401,000
Aus.-Hunb 48,615,000
Spain ____ 15,735,000
Italy.
37,037,000
Neth'I'ds. 7,769,800
Nat.Beig.a 4,128,000
Sweedn __ 4,191,000
Switz'land 4,633,000
Norway _ - 1,629,000
Silver.
£ I
October 10 1907.
Total.
Gold.
£
36,938,003 35,251,365
35,783,513 166,038.677 110,770,754
15,353,000 52,487,000 25,897,0011
7,112,000127,513,000 123,901,000
12,816,000, 61,431,000 45,247,000
33,454,000 49,189,000 15,563,000
4,500,000 41,537,00 34,737,000
4,021,200, 11,791,000 6,056,200
2,064,000 6,192,000 3,264,667
4,191,000 4,246,000
4,633,000 2,272,000
1,629,000 1,810,000
Silver.
I
Total.
£
35,251,365.
37,688,233148,458,987
10,629,000' 36,526,000
5,786,000129,687,000
11,881,000' 57,128,000
25,508,000 41,071,00b
4,869,100 39,606,100
5,235,400 11,291,600
1,032,333 4,897,000
4,246,000
2,272,000,
1,810,000.
£
Total week 448,465,967 115,103,713503,569,680409,015,986103,229,066 512,245,052.
Prey .weekI446,992,102 115,371,532562,363,634409,383,778104,654,494 514,038,272'
a The division (between gold and silver) given in our table of coin and bullion
In the Bank of Germany and the Bank of Belgium is made from the best estimate
we are able to obtain; in neither case is It claimed to be accurate, as those banks
make no distinction In their weekly returns, merely reporting the total gold and
silver: but we believe the division we make Is a close approximation.
b The Austro-Hungarian Bank Statement Is now Issued in Kronen and Heller
instead of Gulden and Kreutzer. The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents. As the Kronen
has really no greater value than 20 cents, our cable correspondent In London, In
order to reduce Kronen to Pounds, has altered the basis of conversion by dividing
the amount of Kronen by 24 Instead of 20.
d The total of gold In the Bank of Russia includes the balance held abroad—
that is, the amount held for Russian account in other Continental banks. The proportion so held, and consequently duplicated in the above statement, is about
one-quarter of the total.
THE DIPLOMATIC CRISIS IN EUROPE.
The declaration of its independence of Turkey by
the Bulgarian Sovereign and Legislature,last Sunday,
has created a most extraordinary situation in European diplomacy, of which it is as yet impossible to
discern either the immediate or the remoter results.
The London newspapers promptly declared, when the
news was first received, that 'a situation had been
created more critical in its nature than any which had
arisen since the rupture of 1870 between France and
Prussia. Financial markets responded in kind; in
Europe, British consols have declined one and onehalf points, French rentes a half point each, and
Turkish securities more than six points, while on
our market, the cautious attitude at once assumed by London resulted, first, in the checkmating
of the movement for the rise started a week ago, and
next, in a general and very severe break of prices.
The announcements at the beginning of the week
were two in number, each involving its own peculiar
complications. The first was to the effect that Bulgaria renounced its allegiance to Turkey; that the
King of Bulgaria assumed the title of Czar of the Bulgarians and undertook full control of Rumelia, which,
by a sort of diplomatic fiction, has always been deemed
an actual dependency of Turkey. The second, and
possibly more serious, announcement of the day was
Austria's formal declaration that it had annexed to
itself the Turkish provinces of Bosnia and Herzegovina, which, in the view of diplomacy, are still
guaranteed as dependencies of the Porte, but in whose
administration Austria has participated.
For these sudden moves there are several explanations. In his official statement of the case, the Bulgarian Minister of Foreign Affairs, M. Poprikoff, declared on Monday that two incidents of the day had
made Bulgaria's rupture with Turkey inevitable.
One was the alleged failure of the Turkish Minister of
Foreign Affairs, last month, to continue official recognition of Bulgaria's representative at Constantinople
as an envoy of a sister State; the other had to do with
a railway question. The Oriental Railway, traversing
as it does both Turkish and Bulgarian territory, has
been subject to a serious strike, which arose outside
of Bulgaria. In order to continue operations of theBulgarian portion of the road, the Government of
that State assumed responsibility for running it, and
as this status continued, it appealed to the company
to sell its Bulgarian rights to the Government. This
OCT. 10 1908.]
THE CHRONICLE
905
proposition encountered the veto of the Turkish Gov- as an individual and as a sovereign. The army,
ernment, which, declaring that the whole line was scattered mostly along the Macedonian frontier, has
Turkish property, demanded that Bulgaria cease renounced allegiance to the Sultan and has proclaimed
operating it. M. Poprikoff further set forth that Bul- its loyalty only to the as yet somewhat nebulous govgaria had no aggressive purposes, had only given ernment known as "constitutional Turkey." The
formal shape to a situation which already existed actual ministry in power at Constantinople is of a
de facto, and that her action "need in no way trouble purely provisional nature, having been summoned by
the Sultan in response to the public demand, and its
the peace of Europe or of the Balkans."
continuance in power being subject to the votes of the
and
Bosnia
The assumption of full authority over
new Turkish Legislature,which will not eonvene until
purposes
Herzegovina by Austria is an action whose
next month. Clearly, a situation of this sort was in
Thurson
are more obscure. The Austrian Emperor
nature of an interregnum, and if Bulgaria, Austria
the
"animated
day, at Budapest, declared that he was
Crete had in mind to strike for their own purposes,
and
"thanks
entirely by peaceful intentions," and that,
was the time to do it.
our
this
and
Italy,
to our alliance with Germany and
is not possible to consider the situation solely
It
Austria-Hunfriendly relations with the other Powers,
light of the welfare of the communities conthe
in
the
in
promptly
gary is in a position to co-operate
Probably it will be admitted that the position
will
cerned.
it
declaration,
maintenance of peace." But this
of Bosnia and Herzegovina, and of
Bulgaria,
why
was,
of
which
be observed, evaded the main point,
substantially improved under the
be
would
the
Crete,
violate
to
moment
Austria should have chosen ,this
this week; indeed, the tenproclaimed
regime
new
between
1878
express terms of the Berlin Treaty of
1878 has been in the
since
ever
events
of
has
dency
violation
the European Powers. The effect of that
situation now prothe
exactly
creating
of
direction
place,
first
already been far-reaching. Servia, in the
while maintainindirectly,
it
doing
though
claimed,
seriously
was
at once declared that its own position
suzerainty.
Turkish
of
fiction
diplomatic
the
ing
Danubian
other
the
jeopardized by this action regarding
existed
long
as
has
situation
a
complicated
so
in
But
formal
a
in
Tuesday,
States. Its Government asserted,
other
Bosphorus,
on
the
and
States
Danubian
of
among:the
violation
flagrant
and
new
proclamation, that "this
relations
mutual
the
of
those
hiefly
to
considerations—c
regard
without
effected
been
the Berlin Treaty has
the grievous blow thus dealt to the feelings, interests and interests of the greater Powers—have always
and rights of the Servian people." The proclamation forced themselves into the matter. Nor is even
demanded, therefore, "complete restoration of the this the sole ulterior consideration; for it must be
situation with regard to Bosnia and Herzegovina, as said that a situation of the utmost gravity has been
established by the Treaty of Berlin," or, in case such created for the new constitutional government of
a solution should be deemed impossible, it demanded Turkey. Apparently, the action of Bulgaria and
equivalent compensation for Servia. Montenegro, Austria has placed the "Young Turks" on the horns
in declarations framed by popular meetings, joined of a most unpleasant dilemma. Aggressive warfare,
in the Servian demands, and there were reports not without funds and before the solution of their own
only of violent anti-Austrian demonstrations by the governmental problem, was the one alternative; loss
Servian populace, but of movements by Servian, of prestige at home through the yielding to the logic
Turkish and Bulgarian troops along the Danubianfron- of events—a very serious matter to a revolutionary
tier. Hardly had this unsettling news been fairly ministry—was the other. There were not lacking
digested by the markets than a proclamation came throughout Europe experienced diplomatic critics
from Crete declaring that island, which is also a who contended at once, last Monday, that the result
Turkish treaty dependency, to be formally united of the situation so suddenly created would be the
with Greece. This problem of Cretan annexation was downfall of the constitutional movement and refought out in the Greco-Turkish War of 1894, when sumption of autocratic power by the Sultan—who,
the assumption by Greece of sovereignty over the in fact, upset a promising constitutional demonisland was vetoed by the concert of European Powers stration under very similar circumstances at the
and nullified by the victory of Turkey in the field, outbreak of the Russian war in 1878. The existing
Crete being left again in the nominal status of a Turkish Ministry have met the situation in perhaps
Turkish dependency, with European guaranties after the only way which was reasonably open to them;
they have called on the Powers of Europe to make good
the war was over.
It will be seen, from this remarkable succession of their guaranty of the status quo in the Treaty of 1878.
This appeal has not been futile; the European
events, that three things of the utmost importance
have already happened. One is, that the disruption Powers, indeed, are themselves confronted with a
of the Turkish Empire has begun. The next is, that state of things which makes imperative either the
the Treaty of Berlin, to which all European Powers reaffirming of the agreement of 1878, or the revision
were signatories in 1878, has been virtually torn to of that document in the light of subsequent events.
pieces. The third is that the Balkan question, which It will not have been forgotten that the Treaty of
haunted diplomatic and financial circles of Europe Berlin was not merely a settlement of the war between
during the decade which followed the Treaty of Berlin, Russia and Turkey, nor even merely the fixing of
is revived in perhaps as menacing a shape as it has the diplomatic status of the Danubian States. It
ever yet assumed. It is scarcely necessary to ask was a compromise in the matter of their own conwhy these various incidents should have occurred at cerns in Southeastern Europe, agreed upon by
just this time. The obvious answer is that Turkey, half a dozen Powers whose interests were undoubtedowing to the singular state in which its Government ly conflicting. Therefore, the unofficial announcenow stands, was unable to prevent it. The Sultan, ment early in the week that the Powers would
since the Turkish revolution of last July, is powerless probably re-convene to reconsider the BerlinTreaty,
906
THE CHRONICLE
[VOL. Lxxxvu.
appealed to most people not only as logical, but as even as a de facto element in the situation, the Treaty
inevitable.
of Berlin is so much waste paper. Since that treaty
The French Ministry promptly issued a formal comprises a number of other arrangements of the
statement in the matter which, after declaring that first importance, including England's occupation of
France, Russia, Great Britain and Italy would do Cyprus, it will be seen that the matter is by no means
their utmost to maintain peace in the East—the simple. Abrogated in one provision, treaty agreeomission of the names of certain other Powers was not ments will sometimes collapse in others also. Back of
without significance—added that "it seems difficult all these more obvious considerations stands the
at the present moment to judge what means will unsettling question as to the attitude of Germany.
best attain this end." If Turkey should incline The German Government, it will have been perceived,
favorably to a revision of the Treaty of 1878, then, was not mentioned in the French Minister's declarathis Power's declaration proceeded, "it is believed tion of Monday as participating in the proposed
that the Powers can easily reach an agreement upon action of the Powers, and, indeed, in diplomatic
the principle of a conference the initiative for which circles it has been taken pretty positively for granted
France, Great Britain and Russia will take." This, that Austria could not possibly have made its move
it will be observed, was a carefully guarded state- toward appropriating the two Turkish dependencies
ment. Great Britain's attitude, although apparently unless on the basis of a complete and cordial agreeindicated in the statement of the French Minister, ment in the matter with Germany. The Austrian
was not in all respects the same. On Monday the Emperor's speech at Budapest rather plainly intimBritish Foreign Office made this official statement: ated this. Such a situation cannot fail to bring up
"His Majesty's Government cannot admit the right once more the puzzling question of the German
of .any Power to alter an international treaty with- attitude towards other European Powers, since
out the consent of the other parties to it, a nd it there- what has been loosely called the "policy of isolation"
fore refuses to sanction any infraction of the Berlin has been practiced by other European States toward
Treaty, and declines to recognize what has been Germany. The singular episode of Germany's attidone until the views of the other Powers are known." tude of 1906 in the Moroccan matter has, up to this
This was non-committal as to the actual calling time, been a largely unsolved mystery. Whether
of a conference; on that point, the English attitude its attitude on the present occasion will be governed
was more clearly outlined in a further statement by similar motives is to-day the most formidable
given out on Wednesday:
puzzle of the Eastern question.
"Reports of the adhesion of any Power to the proposed international conference are premature. Great
RAILROADS AND THEIR PATRONS.
Britain does not desire such a conference; she would
At the hearing last week before the Public Service
much prefer that the question be settled without
reference to the representatives of the Powers, and Commission on the application of a citizen for an
she is thus advising Turkey. If this, however, is order forbidding the Long Island Railroad from disfound impossible, Great Britain's next step will be continuing its annex ferry between Wall Street and
to use her best offices to limit the scope of the con- its Long Island terminal, an official of the road
ference so as to protect the interests of Turkey."
testified that the service was rendered at a loss of
Here, very obviously, is described a diplomatic $40,000 in 1906, $45,000 in 1907, and will probably
situation more obscure and confused than any that show a further increase of loss in this year. Comhas arisen during many years—not less so, in that missioner Bassett said that the service was begun
every one of the Treaty Powers has to admit, will- as a voluntary effort to cater to the convenience
ingly or unwillingly, that its action and the joint of patrons; that the Commission had no power to
action of the Powers, generally, must be regulated intervene until the service actually ceases on October
by the unknown progress of events in the disputed 1; that no question of franchise obligations is interritory itself. It has been frequently asked, this volved, and the company cannot be compelled to
week, exactly what the Treaty of Berlin provided furnish a service which it is not legally bound to
in the matter. The salient parts of that document maintain; but that if it can be shown that the stopbearing on the present situation are comprised in page of the ferry causes serious inconvenience to
Article I, which provides that "Bulgaria is consti- the public, it will probably be within the power of
tuted an autonomous and tributary principality under the board to take up the subject again. In his
the suzerainty of his Majesty, the Sultan;" in Article use of the qualifying word "probably", and in doubtIX, which provides for the annual tribute of Bulgaria ing whether he has any jurisdiction, Mr. Bassett
to Turkey; in Article XIII, which declares that is over-modest or else he questions the legality of the
Eastern Rumelia "shall remain under the direct law. The law attempts to give the Commission
military and political authority of his Imperial Majes- absolute power to decide the sufficiency of trains,
ty, the Sultan, subject to conditions of administra- cars, motive power, times of starting, and train
tive autonomy"; in Article XXIII, which allots to schedules; also "to snake any other suitable order,"
the Turkish Government the general administration the Commission itself being judge of what is suitable
of the affairs of Crete; and in Article XXV, which, and reasonable, all in the name of public service.
after providing that the provinces of Bosnia and
The section conferring this power was quoted
Herzegovina shall be occupied and administered in the "Chronicle" of May 25 1907, p. 1212, and we
by Austria-Hungary, also declares that in a stipu- have referred to it repeatedly to emphasize the fact
lated portion of those provinces "the Turkish ad- that the law, by its terms, gives this outside body
ministration shall continue in force."
absolute power, not only over rates, but over train
These brief citations are enough to show that if service, to order this thing done and that thing not
this week's events are recognized by the Powers, done, according to its own notions. If this power is
OCT. 10 1908.1
THE CHRONICLE
907
certain to be always wisely and justly exercised, and
THE ILLINOIS CENTRAL REPORT.
if we can bring ourselves not to care about the principle of the thing, it will have to stand for the time
The Illinois Central report is issued this time in a
being; only let us not be in doubt what the grant greatly changed form and the balance sheet has been
conferred really is.
entirely reconstructed. Both changes are in the
Individuals have always had the right of offering nature of improvements. In appearance the report
advice and remonstrance to railroads directly; this now closely resembles the reports issued by the
has been more or less availed of, and no road, for various companies in which the Harriman interest is
its own interest, has ever failed to listen respect- dominant, and it is cast on pretty nearly uniform lines
fully. As an example recently, the commuters on the with the annual documents of those companies. At
North Shore branch of the Long Island road have been the same time, most (though not all) of the tables
considering, with the road, the make-up of the train and compilations contained for so many years in the
schedule, the passengers being asked to vote yes or annual reports of the Illinois Central are retained.
no upon a certain proposed change in that schedule. Some reconstruction of the accounts has also taken
This method is not new, and it ought to be satis- place as the result of the radical change in the classififactory. Behind it is the permanent fact that the cation of revenues and expenses prescribed by the
managers of a railroad are always under bonds to Inter-State Commerce Commission, and which became
study public requirements and meet them as far as effective July 1 1907. This last serves to make imphysically and financially possible. No supervising practicable comparison with earlier years in the case
commission is needed for this; but when some minority, of many separate items. The report undertakes, howperhaps as small as one disssatisfied person, cannot ever, to furnish revised figures for the year immedihave things precisely as might suit his convenience, ately preceding, worked out on approximately the
it is very handy to have an office open for making same basis as under the form required by the Intercomplaints. If a large enough number of persons State Commission.
want a particular service, the company will supply
It needs only a glance at the results disclosed by'
it willingly; if the number is small, then comes up the report to see that during the twelve months under
the question (which must be answered somehow) how review the Illinois Central suffered severely from the
small is too small?
adverse conditions to which the whole railroad indusThe reduction is to absurdity, as we must point out try was subject during this period of time. In addionce more. As another illustration, the Commission tion it suffered from causes peculiar to itself. Stated
in the Second (up-State) District, not to be behind, in brief, operating income diminished $2,340,440—
has actually just issued a solemn warning to the which is not such a marked falling off considering the
railroads about withdrawing their special summer striking growth in revenues in the years preceding—
schedules. Trains to Saratoga, Lake George and the addition to receipts in 1906-07 alone having been
Adirondack resorts,. for instance, have long been $4,974,228. The ratio of falling off is less than 4 per
furnished in the summer as special facilities for run- cent —3.93%. But this loss of income was attended
ning up for week-end trips; and if these were needed by an augmentation in expenses of $815,183, and as
they would, of course, be run through the year. The a consequence net earnings were reduced in amount
Commission does not go so far as to warn that the of $3,155,624, a shrinkage of nearly 17% (16.82%),
schedules must not be reduced, but it "desires to the amount of the net for 1908 being only $15,607,302,
impress upon such carriers the importance of giving against $18,762,926 for 1907. The ratio of expenses
very careful consideration to the necessity of re- to income rose from 68.48% to 72.71%, this being
taining" such as are needed, and so "that the natural exclusive of taxes in both years. The remarks of
tendency of carriers to restrict their facilities and President J. T. Harahan in the report are very brief,
operations during times of traffic depression" should but they touch upon the leading influences of the
not go too far. This is all "to the end that com- year and afford an inkling of what has been going on.
plaints and orders of the Commission based on dis- During the first four months of the fiscal year the
regard of the law may be avoided." A special sum- volume of traffic handled, it is stated, was very satismer train, then, should run during the winter, lest factory, but this was neutralized by the decline in
somebody might happen to want it.
business which followed the financial upheaval of
The more of such orders and lectures the better, October and November. The falling off in freight
perhaps, for they serve to illustrate the idea. They •revenue for the twelve months amounted to $2,675,460,
tend to bring this government by commission into or 7.03%, the decrease being directly clue to the
deserved ridicule, and when a thing becomes ridic- stagnation in trade as the result of the business depresulous it rapidly loses hold. But the commissioners sion which prevailed after the cataclysm in the autumn.
themselves are not in fault; they have to do some- There. was, however; another and a special drawback
thing. If they attempt to carry out literally the in the case of the Illinois Central, in the suspension
absolute powers conferred on them, they will produce from April 1 to the middle of May of operations at the
a situation so intolerable as to bring the whole thing coal mines along the lines of the system.
In the passenger revenue, too, there has been a
speedily to an end by reaction; So they naturally
seek to keep their jobs by a fussy activity which shrinkage, though the decrease here is slight. Most
makes a show of doing something for the public of the large railroad systems have been able to show
and incidentally keeps the carriers from being too an increase in passenger revenues for the twelve
happy. A literally unrestricted expenditure is a months—passenger traffic as a rule being the last to
heavy price to pay for having sinecurists; but the reflect the effects of business depression. In the case
more fiercely the operation of this form of govern- of the Illinois Central, however, passenger earnings
ment is pushed the sooner it will come to its end.
have declined $195,734; or 1.75%, from the total of
908
THE CHRONICLE
the year preceding. When we come to examine the
passenger statistics, we find:that the Illinois Central is,
after all, no exception to the rule of an enlarged
passenger traffic. It is true that the number of passengers carried was a trifle smaller, but the number
'carried one mile, which is the real measure of the
movement,shows an actual increase of 21,928,976, or
13.85%. The trouble is that rates have declined. The
average realized per passenger per mile fell away from
1.963 cents in 1907 to 1.857 cents in 1908. In these
circumstances it is not surprising to find that the
report states that the decrease in passenger revenue
must be ascribed in part to the reduction in fares from
3 cents to 2 cents per mile forced upon the roads in
Illinois and Iowa.
As to the .augmentation in expenses, Mr. Harahan
points out that, following the reverse in trade, the
closest supervision was exercised by the, management
in an effort to curtail the expenses without diminishing
the efficiency of the service. But the economies
effected were more than offset by the increase in
amount paid for hire of equipment,incident to the
greater number of foreign cars handled,and in wages,
owing to the advanced rates of pay. Mr. Harahan
observes that the shrinkage in net revenues of 18.91%
is a striking commentary on the widespread agitation
throughout the country for reduction of rates on the
one hand and increases in wages on the other hand.
It is evident that the Illinois Central was seriously
handicapped by the lack of sufficient equipment—at
least during the early part of the year—to handle the
volume of business offered. It may be recalled that
$30,000,000 first lien equipment 4s were created
during the year with the idea of providing for the
company's needs in the matter of equipment, but were
never sold. The position of the road with reference
to equipment is signally illustrated by the fact that the
company was obliged to pay out no less than $2,747,887
for hire of equipment during the twelve months. The
amount had been large in the preceding fiscal year,
when it amounted to $1,880,756; but in 1908 there
was a further increase in the item of $867,131. This
simply means that, not having sufficient equipment of
its own, it had to retain very extensive quotas of foreign equipment on its lines. Obviously, such a situation was unfavorable in a double way—first, in adding to the cost of operation by reason of the extra
outlay in the hire of equipment and,secondly, in making it difficult to take care of the traffic, some of
which as a consequence may have passed to other
lines.
In the final result there is a surplus for the stock
on the operations of the twelve months of only $7,996,399, as against a corresponding surplus in the year
preceding of no less than $11,687,091. The call for
the 7% dividends which are being paid on the Stock
was $6,652,800, leaving, therefore, a balance above
dividend requirements of only $1,343,599, whereas
the balance in the preceding fiscal year was no less
than $5,034,291.
As in the case of other large companies whose reports we have recently reviewed in these columns,
the shrinkage in income was important only in that
it made it necessary for the company to forego those
large special appropriations out of income for improvements and additions to plant which have been
a feature in the past history of the property. In the
[Vol, tocxxvix.
fiscal year 1906-07 $3,987,934 was set aside out of
surplus for permanent improvements and in 1905-06
the corresponding appropriation out of income was
$4,164,739. In 1907-08, on the other hand, nothing
whatever was set aside for permanent improvements,
for the obvious reason that there was little available
for that purpose. It is proper to say, however, that
while nothing was contributed to the fund for permanent improvements, the sum of $1,046,963 was set
aside for replacement of equipment.
This last appropriation is an outcome of the action
of the Inter-State Commerce Commission in prescribing a new system of classification of expenses and
earnings, to which the roads are obliged to conform.
Formerly it was the practice of the company to replace, piece by piece, with modern engines and cars,
all equipment which passed out of existence each year.
The entire cost of the new equipment, less the salvage
in that passed out, was charged to operating expenses.
As there has been a constant increase in size, efficiency and cost of engines and cars, the new equipment has been of much greater value than that which
it replaced. The orders promulgated by the InterState Commerce Commission with reference to accounts !forbid, Mr. Harahan says, charging operating
expenses with the cost of the new equipment over the
old equipment. Hence, to maintain the equipment
on a basis similar to that heretofore in vogue, the
managers have set apart from the income of the year
$1,046,963, which, added to the other available replacement funds, will provide for the replacement of
all equipment out of existence at the end of the year
and make good all depreciation.
In reviewing the reports of the two preceding years,
we called attention to the fact that the confines of the
Illinois Central are being considerably enlarged
through new acquisitions, and that the company has
been reaching out for additional traffic centres.
Through the Indianapolis Southern, a line to Indianapolis will be furnished, and through traffic agreement with the Mobile Sc Ohio, the Southern Railway,
the Northern Alabama Railway and the Kansas City
Memphis & Birmingham, and the building of eighty
miles of new road from Corinth, Miss., to Haleyville,
Ala., an entrance is obtained into the city of Birmingham and the important mineral districts of the South
there centred. The link in the line to Birmingham
was completed during the late year and formally
placed in operation on April 19 1908. The total cost
to June 30 1908 of this piece of road was $6,010,851,
of which $2,161,678 was expended during the year
under review. We also referred, a year ago, to the
line to Nashville obtained through the Tennessee
Central Railroad. This last, however, has now been
abandoned, the operation of the Tennessee Central
having proved too burdensome.
On account of advances to these various subsidiary
enterprises, the company has incurred a considerable
floating debt. This was a feature in the financial
statements in the preceding fiscal year and is still
more in evidence in the financial accounts for the late
year. On June 30 1907 loans and bills payable maturing at a future date were given as $10,298,500;
for June 30 1908 the amount appears at $15,190,000.
Ordinary loans and bills payable, which June 30 1907
were reported at only $400,000, are now $8,400,000.
But provision for financial relief has been made in the
1
OCT. 10 1908.,
THE CHRONICLE
authorization given by the shareholders on May 18
1908 for the issue of $28,512,000 new stock of the company. One-half of the new stock was issued to shareholders at par at once and the remaining half is to
be held in the company's treasury subject to future
disposal. We have already noted that no portion of
the $30,000,000 of equipment issue created' during the
year was disposed of.
The report points out that the policy of improving
the standards of maintenance has been strictly followed. The average weight of rail in the main track
is 75.61 lbs. per yard, as against 74.77 lbs. last year.
The average hauling capacity of locomotives on level
track has been increased from 4,020 to 4,096 tons
and the average capacity of revenue freight cars from
36.22 to 37.69 tons. Thus the property is being kept
at a high standard of efficiency, which is the best
guaranty that it will be able to handle traffic cheaply
and economically and pass through the existing depression in trade without serious impairment of its
strength.
THE COLORADO & SOUTHERN RAILWAY.
The Colorado & Southern Railway Co. is one of the
few companies which are able to show improved results—both gross and net—for the fiscal year ending
June 30 1908, notwithstanding the depression in business which overwhelmed the country after the
financial cataclysm of last autumn. In part, these
improved results follow from an increase in mileage
operated, but only in part. The truth is, Colorado,
Wyoming and the rest of the territory tributary to the
lines of this system is developing in a wonderful fashion,
in large measure as a result of the facilities furnished
by the railroads in general and the Colorado & Southern in particular. Through the building of an extensive amount of new road in Texas by the Colorado
& Southern, the whole of Colorado and Wyoming
has been brought in direct connection with the Gulf of
Mexico—an advantage which we may be sure will develop growing importance as time progresses.
The opening of this through route to the Gulf must
be considered as one of the most important events in
the history of this property, and not less so to Colorado
and the contiguous sections. But the Colorado &
Southern and its active head, President Frank Trumbull, have done much in other ways for the grarth
and advancement of that part of the country. It is
gratifying, therefore, to find that revenues are expanding in a way to justify the expectations of those
who have risked their money in extending and improving the system.
Taken as a whole, the year 1907-08 was unquestionably the best in the history of the Colorado & Southern
Railway. By this we do not mean that the road
has not felt the influence of buSiness depression• or
may not feel its continuance in the future. The
traffic statistics show a falling off in certain items
of tonnage that must doubtless be taken as due
to general business depression. On the other hand,
however, new sources of traffic and new mileage
have served to make good any loss in this way, and
provide for continued growth. The company began
on Sept. 1 of last year running freight trains between Denver and Cheyenne under trackage agreement with the Union Pacific Railroad. This enables
it to handle in its own trains business to and from
909
its Wyoming Division, which extends north from
Cheyenne, a distance of' 153 miles. Altogether the
average mileage operated in 19074:18 was 1,931 miles,
an increase over the *rage of the previous year
of 173 miles.
Operating revenues for the twelve months reached
over 1431 million dollars—$14,280,535. This was
an increase over the year preceding of $906,731.
The report tells us that of this increase $453,99 is
attributable to the additional mileage operated.
The management were fortunate, too, in being able
to keep expenses well in hand,'so that the company
was able to better the eXperience of most other roads
and show an increase likewise in the net. The a&
dition to operating expenses was $612,582, leaving
$294,149 gain in the net; $71,905 of this gain was
lost by reason of'an increase of over 21 per cent in
the taxes levied on the property. In the final result
the income account for the twelve months shows
a surplus above fixed charges in amount of $2,171,903.
The company is paying 4per cent dividends on
both its first preferred and Its second preferred shares,
but the two together called for only $680,000, so
that the surplus above charges was over three times
the dividend requirements on these two classes of
shares.
One of the strong points in the present situation
of this company is that considerable arliounts of net
income have gone back into the property each year,
no dividends having ever been paid on the common
shares. Including the latest year, the 'surplus above
fixed charges for the three years ending June 30
1908 has been $6,029,973 and out of this the amount
paid in dividends on the first and second preferred
shares has been only $1,360,000. Total surplus
above charges up to June 36 1908 has been $10,567,515, of which no more than $2,635,000 has
been paid out in dividends on the first and second
preferred stock—dividends on the second preferred
shares having been paid only during the last year
and a half. Mr. Trunibull says that in each ease
the profit not distributed to the Shareholders was
devoted to improving the physical and other assets
of the company and its auxiliary lines; and the public
has, of course, been furnished with more and more
facilities from year to year. It is the desire of the
company, he says, to keep abreast of all reasonable
demands for serviee, not only at competitive points,
but also in purely local territory; hence the large
amounts expended out of income. '
We have made allusion above to the completion of
the Trinity & Brazos Valley Ry. and the !opening of
the through route'to the Gulf. This, hoviTe'vet,t NOM of
little direct advantage 'during the year under review.
The earnings of the Trinity & Brazos Valley are not
included in those of the Colorado & Southern, the new
road being operated separately. Mr. Trumbull notes
that the construction work in progress at the time of
the last report was diligently prosecuted,'but on account of unusual rains progress was much slower
than had been expected. In consequence,'it was practicable to accept only a small part of the business'
available for this line, and as a result expenses of
operation were in excess of receipts. He states, however, that at the present time the whole line (which
extends from Dallas to Houston and Galveston) is
ready for a large_business, and the outlook for traffic
910
THE CHRONICLE
from now on is most promising, particularly in view of
the excellent crop prospects in Texas and Oklahoma.
New freight terminals for the purpose have been provided both at Houston and Galveston.
Considerable improvement and development work
is also being done on other parts of the Colorado &
Southern system. Notwithstanding the unfavorable
financial troubles last autumn, nearly all the improvement and construction work which was in
progress, the report states, has been continued. Reference is made particularly to what is being done on
the Fort Worth & Denver line. A few years ago, it
is pointed out, a well-maintained dirt road was sufficient for the business of that line, but in ten years
its freight-ton miles have increased 179% and its passenger-train mileage has increased 174%. With continually augmenting cost during that period for wages,
ties and other items, the officials discovered, as officials of other lines have done, that almost the only
offset which could be devised was the hauling of much
larger trains, and this involved the purchase of heavy
locomotives. For the same reason it became necessary
to ballast the track. Up to June 30 1908, 138 miles
of rock and gravel ballast had been laid. The work
of ballasting is being steadily continued, and it is
thought that the whole line, which is in first class condition otherwise, will be well ballasted by June 30
1910. By Dec. 31 1910 it is expected that the program adopted several years ago, under which permanent bridges are being substituted for wooden bridges,
will be completed, thus eliminating every wooden
bridge on that line (68% having already been eliminated) except over the Canadian, the Red and the
Pease rivers.
In the carrying out of its plans of extension and
mprovement, the company incurred some floating
debt and the balance sheet for June 30 1908 shows
$2,500,000 of bills payable outstanding at th'at time.
The report tells us, however, that all these bills have
been paid off since that date and the company now is
entirely free from floating debt. At the close of the
fiscal year the company held $6,074,570 of its own
bonds among its assets, and likewise held $864,628
of refunding and extension mortgage bonds to be
appropriated for improvements and betterments.
Since June 30 1908 $3,000,000 refunding and extension
bonds have been sold,as also the $300,000 of first mortgage bonds held, the proceeds going presumably to
pay off the floating debt.
[VOL. LXX XVII.
complete proceedings of the Thirty-fourth Annual Convention
of the American Bankers' Association, which held its sessions
in Denver last week. The work of this year's convention
was characterized by the decided stand taken by the assembled bankers against the guaranty of bank deposits and
disapproval of the proposal to establish postal savings banks.
All the speeches and remarks relating to the discussion of
guaranteed bank deposits, postal savings banks and other
financial subjects of national interest delivered In convention
before the Banking, the Trust Company and the Savings
Bank Sections, are given fully in our report. Not the least
interesting feature of the annual issue of the "Bankers
Convention Section" which will attract the reader's attention is the many business cards of representative banks, trust
companies, bankers and brokers of the United States and
the foreign banks and corporations. And the many cuts
of buildings contained in the "Section':' give an insight into
the places of abode of the country's banking and financial
institutions which could be obtained in no other way.
At no other meeting of the Association in recent years
has there been so large a gathering of the heads of banks as
at the Convention just closed, the presidents and vicepresidents of the prominent banks throughout the country'
displaying active interest in the organization by their
attendance.
The list of officers of the Association as published last
week was incorrect in that it gave J. C. Mitchell as Treasurer,
instead of P. C. Kauffman, Vice-President of the Fidelity
Trust Co. of Tacoma. Mr. Kauffman has been actively
identified with the Association for the past ten years, serving
as a member of the Executive Council, the Standing Law
Committee and the Executive Committee of the Trust Company Section. He is also Secretary of the Washington
Bankers' Association, a post held by him for the past eight
ye—
arsIn line with the plans of Lawrence O.Murray, Comptroller of the Currency, to bring about closer co-operation
between his office and the examiners and receivers, the
sixteen national bank receivers representing Eastern territory met in convention at Washington this week. As in
the case of the conference of Eastern national bank examiners
held two weeks ago, this week's meeting was opened by
Corn ptroller Murray, who had called the conferences, and
who in part addressed the receivers as follows:
"The one fault most common with receivers is delay in closing their
trusts, but there have been many exceptions. Many of you present are
entirely without fault in this respect. A receiver who will keep his trust
unsettled a day longer than is necessary for the purpose of getting an
unearned salary, or his attorney who will put in a bill and try to get It
paid for more than his services have been worth, are each practicing polite
robbery..,Inad
ministering your trust you must be economical. It is exasperating
to a depositor to have an additional wrong committed by extravagance In
the distribution of what the dishonest officers have been unable to carry
away or lose in bad loans. There is a general disposition to be liberal In
the expenditure of money belonging to other people. A receiver should
act with the same degree of economy, and with as much care, as a prudent
business man would exercise in attending to his own affairs. Get out of
youn mind the impression which some may have that receivership is an
easy, good-paying job for the receiver, his employees and for the attorneys.
"When a matter is placed in the hands of your attorney, do not regard it
as off your hands. The laws delay may at times be unavoidable, but it
can be,remedied to some extent by a receiver who does things. You
should know why your case is delayed and let your lawyer understand
positively that he must expedite litigation as rapidly as possible. And
do not be afraid to recommend to the Comptroller the discharge of your
attorney if you find him to be incompetent. A great part of the work of
a receiver must be done under the direction of an attorney. No matter
through what influence the attorney may have been selected, he will be
promptly discharged if he is found to be incompetent, negligent or delaying
the closing of the trust; and you report the facts here."
ITEMS ABOUT BANKS, BANKERS AND TRUST 00.[S.
—The public sales of bank stocks this week aggregate 103
shares, of which 83 shares were sold at auction and 20 shares
at the Stock Exchange. The transactions in trust company
stocks reach a total of 140 shares. Twenty shares of stock
Among the topics discussed during the present week were
of the Title Guarantee & Trust Co. were sold this week at
following: Immediate Duties of the Receiver on Taking
the
400, this being the first public sale of the stock since Nov.
of Assets; Collection of Assets; Allowance of
Possession
1907, when the price paid was 340.
in the Management of the Trust; Duties in
Economy
Offsets;
Last previous sale.
Shares. BANKS—New York.
Low. High. Close.
Aiding Efforts for Rehabilitation of the Bank; Duties in
Sept 1908— 310
*10 City Bank, National
307
307
307
Sept 1908— 169M Regard to Recommending an Assessment;, Sale of Worthless
169
189
*10 Commerce, Nat. Bank of._ _ 169
July 1908— 528
540
18 Importers' & Trad. Nat. Bk.. 540
540
and Uncollectible Assets, &c.
15 Market & Fulton Nat,Bank_ 248k 248k 2485i Sept 1908— 245
Sept 1908— 150
155
155
50 Phenix National Bank
155
—As a means toward perfecting the system of bank
TRUST COMPANIES—New York.
to which Comptroller Murray has been devoting
examinations
Sept 1908— 165
165
165
100 Carnegie Trust Co
165
Sept 1908— 219'/ considerable attention, and more particularly to enable the
216 M 21634 2163
20 Columbia Trust Co
Nov 1907— 340
400
400
400
20 Title Guar. & Trust Co
detection of the presence of unreasonable quantities of
commercial paper among the assets of national banks, Mr.
the
Stock
Exchange.
* Sold at
—With to-day's issue of the "Chronicle" our subscribers in Murray this week announced a plan for the grouping of
this country and abroad will receive a copy of our "Bankers national bank examiners into districts, each district to be in
Convention Section," a publication in which we give the charge of a chairman. Quarterly meetings are to he held in
OCT. 10 1908.1
THE CHRONICLE
911
the first weeks of January, April, July and October, these however, including, it is estimated, uncollectible accounts
meetings to be presided over by the chairman, who will aggregating at least $2,700,000. The circular follows:
New York, Sept. 29 1908.
compile the reports to be made to the Comptroller. During
Dear Sir: In answer to many inquiries from creditors, I make this
intervals between meetings he will also enter into any neces- general
answer. It Is impossible to make anything more than an approxisary correspondence with chairmen of other groups seeking mate and indefinite statement at this time, and this is predicated upon the
information with reference to certain lines of credit. The report of the bookkeepers.
The liabilities (after deducting an item of capital and amounts due
reports to the Comptroller, the "Journal of Commerce" of Individual
members of the firm which would not have to be paid by the
this city states, are designed to furnish in detail a list of estate, and an item which should be credited on an account) aggregate
the lines of over-extended credit, large loans and heavy $2,879,248. The assets upon the same basis appear to be $3.579.772.
borrowers,and in general all of the questionable or doubtful An estimate of the accounts Included In this item that are uncollectible
aggregate at least $2,700,000. Making this deduction leaves as assets
paper which has come to the attention of the examiners in $879,772, according to the books. I have on hand approximately
$96,000
In
cash and securities, many of them inactive, which I am advised ought
the district.
to be worth from $80,000 to $100,000. A large portion of these last two
The districts as now announced are to be as follows, acmentioned sums (cash and securities) has been derived from items making
cording to the "Journal of Commerce":
up the aggregate of $879,772, and are Included therein. The balance,
District No. 1, with headquarters at Boston, and Examiner Ewer in
charge, comprising Maine, New Hampshire, Vermont, Massachusetts
Rhode Island and Connecticut.
District No. 2, with headquarters at New York, and Examiner Charles
A. Hanna in charge, including New York, New Jersey and Delaware.
District No. 3, with headquarters at Philadelphia, and Examiner Frank
L. Norris In charge, Including Philadelphia, Maryland. Eastern Pennsylvania, Virginia, North Carolina and the District of Columbia.
District No. 4, with headquarters at Pittsburgh, Pa., and Examiner
Harrison Nesbit in charge, including Pittsburgh, Western Pennsylvania,
West Virginia and Ohio.
District No. 5, with headquarters at Nashville, Tenn., and Examiner
S. H. L. Cooper in charge. Including Tennessee, South Carolina, Florida,
Georgia, Alabama, Mississippi, Louisiana and Kentucky.
District No. 6, with headquarters at Chicago. Ill., and Examiner C. H.
Bosworth In charge, Including Illinois, Indiana, Michigan and Wisconsin.
District No. 7, with headquarters at Minneapolis, Minn.,and]Examiner
J. A. Rathbun in charge, Including Minnesota, North Dakota and South
Dakota.
District No. 8. with headquarters at Kansas City, Mo., with Examiner
F. 0. Hicks in charge, Including Iowa, Nebraska, Kansas, Missouri, Oklahoma and Arkansas.
District No. 9, with headquarters at Fort Worth, Tex., and Examiner
J. M. Logan in charge, Including Texas, New Mexico and Arizona.
District No. 10. with headquarters at Denver, Col., and Examiner F. L.
Klein In charge, including Colorado, Utah and Wyoming
District No. 11, with headquarters at San Francisco, Cal., and Examiner
E. T. Wilson in charge, including Montana, Idaho, Washington, Oregon.
Nevada and Cal.fornia.
It is understood that this plan is to take the place of the
one originally intended of organizing a new division in the
Comptroller's office for the compilation of information as to
the quantity of each kind of paper held by the different institutions which would be available when called for by the
examiners.
—Hamilton Fish has tendered his resignation as United
States Assistant Treasurer at New York, to take effect
Oct. 31. Mr. Fish's action is due to the fact that he has
accepted the Republican nomination for Congress from the
Twenty-first New York District. He has held the post of
Assistant Treasurer since March 1903, having succeeded the
late Conrad N. Jordan.
—At the annual meeting of the New York Clearing-House
Association on Tuesday, William H. Porter, President of
the Chemical National Bank of this city, was elected President of the association to succeed Alexander Gilbert, President of the Market & Fulton National Bank. Samuel
Woolverton, President of the Gallatin National Bank, was
elected Secretary, succeeding Albert H. Wiggin, Vice-President of the Chase National Bank. William Sherer has been
reappointJd Manager and William J. Gilpin continues as
Assistant Manager. Dumont Clarke, President of the
American Exchange National Bank, has been chosen Chairman of the Clearing-House Committee. The report of
Manager Sherer showed total Clearing-House transactions
for the twelve months ended Sept. 30 1908 of $77,040,604,185, of which $73,630,971,913 represents exchanges and
$3,409,632,272 balances. The total compares with $99,129,347,346 for the previous year. The average daily transactions during the year just closed were $252,592,145. The
total transactions since the organization of the Clearing
House, fifty-five years ago, aggregate $2,019,942,892,520.
The report also shows that loan certificates to an aggregate
of $528,710,000 were used in the payment of the debit balances, this being, of course, the largest in the history of the
association.
—In a circular letter to the creditors of the failed firm of
A. 0. Brown & Co. of this city, Receiver C. E. Littlefield
furnishes a tentative statement of the liabilities and assets
of the firm, predicated, he states, on the report of the bookkeepers. The liabilities he estimates at $2,879,248, after
certain deductions, and the assets at $3,579,772, the latter,
with the exception of two seats upon the New York Stock Exchange,
valued at $150,000 (upon which a lien is claimed for $246,895). ,s principally accounts the collection of which I am advised is doubtful.
On account of many adverse claims to the securities in my possession,
It Is impossible to state what amount can be realized therefrom forthe
estate. There are other assets (that do not appear in this statement
taken from the books), such as contents of offices so far as they are not
solchstocks and securities In controversy,and claims and property of various
kinds, the value of which it is impossible at this time to state even approximately.
Indications are that the settlement of the estate will involve considerable
litigation, some of which has already begun.
An estimate of what the estate will payeannot be safely based upon this
statement, which is only tentative nd preliminary.
Very respectfully yours.
C. E. LITTLEFIELD, Receiver,
A. 0. Brown & Co.
The firm was formally adjudicated a bankrupt on the
6th inst.
—Gen. Louis Fitzgerald, formerly President of the Mercantile Trust Co. of this city, died on Tuesday last in his
seventy-first year. Gen. Fitzgerald had been President of
the company for twenty-seven years at the time of his
resignation in Jan. 1903, and played a prominent part in
advancing its interests.
—A special meeting of the stockholders of the Empire
Trust Co. of this city is to be held on Tuesday next, the
13th inst., to act on the proposition to increase the capital
from $500,000 to $1,000,000. The manner and terms of.
issuance of the new stock will be determined at the same
time. The institution has surplus and profits of over $1,000,000. Its stock is on an 8% basis, the rate having been
increased with the payment of the half-yearly distribution in
July, when 4% was paid, against 3% previously.
—The suits brought by Daniel Le Roy Dresser, formerly
President of the Trust Company of the Republic of this
city, against the Mercantile Trust Company and several
individuals to recover $2,100,000 was dismissed by Supreme
Court Judge Thomas at Mineola yesterday, counsel for
Mr. Dresser having informed the Court that the plaintiff
was unable at this time to fully substantiate the allegations
in the complaint, and that he did not feel disposed to go
on with the case at present. The suits were instituted to
recover losses alleged to have been incurred through investing in and underwriting stock of the United States
Ship Building Co. Rumor. has it that some kind of a
settlement was reached between the parties.
—The new home of the Commercial Trust Co. of Boston,
at 88 Summer Street, was open for public inspection throughout the present week. The company is the exclusive
occupant of the building, and will begin business in its
new structure on Monday next, the 12th inst. The building is of white marble and of Italian renaissance in design.
The main banking room rises to the roof, being surrounded
by a wide gallery for the use of the clerks. The company's
new building is equipped with modern safe deposit vaults.
—The Webster & Atlas National Bank of Boston has increased its annual dividend rate from 6% to 7%, having
declared a semi-annual dividend of 33.%, against 3% previously paid.
—The stockholders of the Flatbush Trust Co. of Brooklyn
Borough have approved the proposition to increase the
capital of their institution from $200,000 to $300,000. The
new stock is offered pro rata to the existing shareholders at
par. The increased capital will become effective on the
17th inst.
—A meeting of the stockholders of the failed Lincoln
Savings & Trust Co. of Philadelphia is to be held on November 30 for the purpose, it is said, of giving consideration to
912
THE CHRONICLE
plans for the reorganization of the institution. The company was placed in receivers' haridS'on jiine 18.
—The Franklin National' Bank,of Philadelphia removed
on Saturday last to the building formerly occupied by the
Girard Trust Company at the northeast corner of Broad
and Chestnut Streets. The name of the structure has
been changed to Franklin Bank Building.
•—Between the bank calls of July 15th and Sept. 23rd,
the..Merchants' National Bank of Philadelphia increased
its deposits frcan $12,060,798 to $12,332,968, an increase
of $272,170 in the two months. Its capital is $1,000,000, surplus and undivided profits, $904,269 and
aggregate resources September.; 23rd 814,856,237. The
institution is known as "the bank of perSonal service."
F. W. Ayer is President and William A. Law, Vice-President.
—Harold G. Meadows, of the failed, firm of Meadows,
Williams & Co. of Buffalo, N. Y., was arrested on the
26th ult. on a charge of grand larceny preferred by William
E. Silverthorne, a customer. He was released under
$5,000 bail. Mr. Silverthorne, it is said, charges the misappropriation of $72,013 given to the firm in payment for
United States Steel stock, which he has failed to receive.
At a meeting of the creditors of the firm on Monday last,
Edward F. Walsh, the receiver, was appointed trustee in
bankruptcy. The report of the receiver, filed on that day,
showed the firm to be indebted to four banks in Buffalo,
the Bank of Buffalo having a claim of $301,000, for which
it holds securities valued at. $364,000; the People's Bank
with a claim of $28,000 secured by $30,000; the Fidelity
Trust Company with a claim of $291,000, secured by $300,000, and the Market Bank with a claim of $10 ,000, against
which it has securities valued at $18,000. The firm is also
said to have been indebted on Sept. 15 to Post & Flagg of
New York to the extent of $51,000, the latter holding a
lien on the New York Stock Exchange seat of Clarence
Dewitt, a member of the firm of Meadows, Williams & Co.
—A dividend of 20% was declared last month to the
depositors of the Traders' & Mechanics' Bank of Pittsburgh,
which was closed by the State Banking Department in
January.
—The firm of Hambleton & Co. of Baltimore having been
dissolved by the death in August last of Frank S. Hambleton,
a new co-partnership was formed on the 8th ult. by T.
Edward Ilambleton, John M. Nelson and J. Henry Cook,
under the name of Hambleton & Co. Messrs. Nelson and
Cook were members of the recent firm for many years and
were associated with it in one capacity or another for more
than a quarter of a century. T. Edward Ham bleton is the
eldest son of the late Frank S. Hambleton and was connected
with the old firm for several years prior to the death of his
ather. The new firm will conduct a general banking and
brokerage business. The affairs of the old firm will be
wound up by Messrs. Nelson and Cook, the surviving
partners.
—An appraisal of the assets ana liabilities of the American
Savings Bank Co. of Cleveland, which assigned May 14, are
said to show assets of $255,371 and liabilities of $276,579.
—The Illinois Bankers' Association will hold its annual
convention in Chicago next week on Tuesday and Wednesday. The i features of the program will be an address on
"Commercial Paper" by James G. Cannon, Vice-President
of the Fourth National Bank of New York, and "Guarantee
of Bank Deposits" by Prof. J. Laurence Laughlin of the
UniverSity of Chicago. On Monday, the day preceding
the opening of the convention, William 'George, President
of Second National Bank Of Aurora, and ex-President of the
Association, will entertain members of the executive council and other officials of the organization at his home. The
State Bank of Chicago has prepared a little booklet dealing
with the business and entertainment features of the program, in which it invites those in attendance to avail of
the conveniences of its offices. Mail sent in its care will
be carefully looked after, and it is prepared to render other
services as opportunity may offer.
—The National Bank of the Republic of Chicago shows
rn increase of half a million dollars in its deposits since
July 15 last, the amount then having been $20,499,889, as
against $20,914,342 reported under the latest call of the
[VOL. Lxxxyli.
Comptroller, namely Sept. 23. The total resources have
risen in. this period from'011,601,250 to $25,049,07. The
stock of the bank is now ,quoted .194 bid and 205 asked.
The usual quarterly dividend of 2% on the $2,000,000
capital has just been "paid.
—Edwin L. Wagner, President of the National Produce
Bank of Chicago, has been elected a director and VicePresident of the South Chicago Savings Bank.
—The Equitable Life Assurance Society has sold its holdings of 2,500 shares of stock in the First National Bank of
Chicago, for which it received $400 a share, or $1,000,000.
In the Equitable's annual report at the end of 1907 this
stock was carried at its then market value of $327 50 a
share, or a total of $815,475. The original cost of this
stock to the society, it is stated, was $991,305.
--An initial dividend of 13/2%, payable Oct. 1 to stockholder of record Sept. 25, has been declared by the Chicago
Savings Bank & Trust Co. of Chicago. It is understood that
this rate is to be paid quarterly. The institution was organized in 1902. It has a capital of $500,000 and surplus
and profits of about $112,000.
—A dividend in liquidation of 25% has been declared
on the $200,000 capital of the United States Trust Co.
of Chicago by the Assets Realization Co., the liquidating
agent. The disbursement is said to be the third, making
in all thus far 45%. The institution, which was the reorganized Jennings Real Estate, Loan & Trust Co., was
placed in voluntary liquidation last May. Its deposits, in
the neighborhood of $7,000, were understood to have been
paid in full by the Assets Company.
—The United States National Bank of Denver, through
the amalgamation with the National Bank of Commerce,
effected on Sept. 26, enters the five-million-dollar class, its
deposits now being in excess of that amount. A reference
to the merger appeared in our issue of a week ago. In
consolidating the two banks, the charter of the United States
National was retained, the capital of the latter being increased from $200,000 to $350,000—not $500,000 as was
first reported. The bank's surplus has been increased from
$90,000 to $175,000. Gordon Jones, President of the
consolidated institution, is President of the Colorado
Bankers' Association, and was at one time head of the Missouri Bankers' Association. His assistants in the management are: W. A. Hover, Chairman of the Board of Directors;
Henry T. Rogers and A. C. Foster, Vice-Presidents; W. B.
Morrison, Cashier; and James Ringold, Assistant Cashier.
The board of directors is made up of representatives of both
banks and includes, besides the officers, A. V. Hunter,
banker, of Leadville, Col.; • E. B. Field, President of the
Colorado Telephone Co.; Henry T. Rogers, of Rogers, Ellis
& Johnson, attorneys; J. C. Davis, President of the DavisBridaham Drug Co.; Chas. D. Griffith, President of the
C. D. Griffith Shoe Manufacturing Co.; Fred W. Bailey,
capitalist; Meyer Friedman, capitalist; E. S. Kassler,
President of the Gano-Downs Clothing Co.; and W. R.
Freeman, of the Atchison Topeka & Santa Fe Railway Co.
—The change in the name of the Western National Bank
of Louisville, Ky., took effect on the 1st inst., when the
title became the Continental National Bank. This change
was authorized last August, at which time it was also decided to reduce the capital from $300,000 to $200,000, at
which latter figure it now stands. The bank reports a surplus of $40,000 and undivided profits of $5,000. The
officers continue as follows: W. H. Netherland, President;
E. C. Hegnan, Vice-President, and C. W. Dieruf, Cashier.
—It is reported that a second dividend of 20% has been
paid to the depositors of the Woods National Bank of San
Antonio, Texas, which suspended on Nov. 7 1907.
—W.F. Callander has.resigned as Cashier of the GermanAmerican Savings Bank of Los Angeles, to become President of the Bank of Los Angeles, having purchased the
interest of W.B. Ames,the retiring President of the latter.
John F. Andrews, heretofore Assistant Cashier of the
German-American Savings Bank, has been chosen to the
cashiership, to take the place of Mr. Callander.
—Philip N. Lilienthal, one of the managers at San Francisco of the Anglo-Californian Bank, was killed in an automobile accident on Sept. 9. There is said to be a possibility
of the institution being converted into 'a national bank.
00T. 10
nos.'
THE CHRONICLE
1'IottctarBiCiriouxuxtrciaMuglisix4exus
4......WWWWWWWWWWWWV.We
(Froth cur cw
correti) ndent.i
913
The rates for money have been as follows:
Oct. 2.
Sept. 25.
134.nk ot England rate ',
23
24
Open Market ratehank bills-3 monthi____ i@1 9-16
1%
-4 months.... 140134
1%
-6 months_ _ __
2(424
2©24
Trade bills-3 months_ _ _ _
2©2342024
-4 months... _ _ 23481234
234©234
Interest allowed or depositsBy joint-stock banks
1
1
By discount houses:
At call
1
1
7 to 14 days
14
14
Sept. 18.
2%: .
Sept. 11.
24
London, Saturday, October 3 1908.
11-16 1 9=16@1%
24
24OM
The improvement on the Stock Exchange which has been
24
2@2
2424
going:on now all through, the holiday season is becoming
23
23'.1,©3
more pronopnced and is extending to every market. Mainly
the improvement is due to investment proper. Prices have
1
1
fallen so low that the thrifty classes throughout the country
1
1
have been buying upon. a very-considerable scale. Very
lx
134
often the purchases have been in exceedingly small amounts,
Messrs. Pixley & Abell write as follows under date of
and as they have been effected through a large number of
brokers,the members of the Stock Exchange have not realized October 1.
GOLD.-The gold in the market this week amounted to over £1,100,006, and,
the magnitude of the buying that has been going on,and for
after satisfying the trade and the small Indian demand, practically the whole of
a considerable time indeed refused to believe in the reality this
was taken by Paris at the same price as last week. In spite of this large purof the movement. Now, however, it is becoming clear, chase, the cheque shows practically no improvement
at about 25.11. Next week
we
expect
£360,000 from South Africa. This week's movements are as follows:
even to the most incredulous, that the investment is great The Bank has
received £215,000 from India, while £560,000 has been withdrawn,
beyond precedent for many years. Quite lately, moreover, £300,000 for Turkey and £250,000 for South America. Arrivals-Cape,£1,002,000;
Australia,£152,000; West Africa,£63,000; New Zealand,£25,000; total,£1,242,000.
the investment has been increased by the entrance into the Shipments-Bombay,
£41,500; Madras, £5,000; total, £46,500.
market of an entirely new class of buyers. Trade ever since
SILVER.-The business In Silver has been very small; after the departure of
the crisis at the end of Iasi year has been shrinking through- 'last week's mall, India sent no fresh buying orders, and the price remains the same
cash, at 23 13-16d., while forward is 1-16d. higher, the market being kept up
out the country,and'now manufacturers and ,indeed, traders for
by the smallness of the amounts offering and reports of Continental requirements,
of every kind',find that they are not able to employ anything which have caused some speculative inquiry. At the close the tendency Is dull,
buyers being satisfied. The price in India is Rs. 60 13-16 per 100 Tolahs. Arlike the amount of money which they were employing twelve rivals
-New York, £139,000: Mexico, £7,000; total, £146,000. Shipments-Bommonths ago. They are now investing their surplus funds bay, £438,750; Madras, £2,500; total, £441,250.
in all kinds of securities. Lastly, bankers are investing.
The quotations for bullion are reported as follows:
The rate of discount has fallen so very low that it no longer
GOLD.
Oct. 2.
Sept. 25.1
SILVER.
Oct. 2.
Sept. 25.
pays to employ,very large sums in discounting bills. This
London Standard.
s. d. I Lorulon Standard.
a. d.
d.
a. gi
week, for example, the rate of discount has been as low Bar gold, fine, oz
77 10% 77 1034 I Bar silver, line, oz.._ _ _23 13-16 2315-16
U. S. gold, oz
76 534 76 554 I " 2 mo. delivery_ _ _ _234
23 15-16
as 1% per cent. In some cases it has been even lower. German
gold coin, oz 76 54 76 54'Cake silver, oz
25 11-16 25 13-16
Obviously, it is much more profitable to buy Consols than French gold coin, oz._ 76 534 76 534'Mexican dollars
ROM
nom.
76 534 76 5%1
to discount bills at these rates. Consols yield 2M per cent Japanese yen
per annum and they can be bought at between 85 and 86,
The following shows the imports of cereal produce into
whereas, as has just been said, the discount rate is only the United Kingdom during the season
to date, comPA per cent. It is well worth while, then, to those
who have been discounting bills on a great scale,to invest a pared with previous seasons:
portion of their funds. There are institutions, of course,
IMPORTS.
Four weeks.
1907-08.
1908-09.
1906-07.
1905-06.
which must invest for various reasons. But most banks Imports
of wheat
cwt. 7,430,700 8,527,400 10,407,700 8,461,600
can divert a portion of their funds from discounting to in- Barley
3,315,900 2,534,200 3,223,200 2,381,700
Oats
948,600
313,000
1,241,800
1,236,100
vestment. Lastly, the contangoe rates upon the Stock Peas
107,040
71,010
249,060
258,886
Exchanges have fallen so low that many great institutions, Beans
46,670
168,760
181,260
150,770
corn
3,288,800 4,485,800 5,661,100 4,896,500
and especially the foreign banks having branches in London, Indian
Flour
868,100 1,130,200 1,496,000
961,600
have of late been withdrawing funds which they hitherto
Supplies available for consumption (exclusive of stock on
had employed in carrying over accounts from one settlement
to another, and have been investing a portion of those funds. September 1):
.
In all these ways the investment going on at the present
1908-09.
1907-08.
1906-07.
1905-06.
time is assuming such magnitude that stocks in many de- Wheat imported
cwt. 7,430,700 8,527,400 10,407,700 8,461,600
Imports of dour
863,100 1,130,200
1,496,000
961,600
partments are becoming scarce, and it is almost inevitable Sales
of home-grown
9,542,107 4,057,549 3,451,414 3,423,122
that we shall see a considerable speculation spring up before
Total
10,840,907 13,715,149 15,355,114 12,846,322
long. In Paris investment also is becoming much larger. Average price wheat, week
31s. 5d.
31s. 86.
27s. 9d.
28s. 8d.
The favorable reply given by the German Government to Average price, season
315. 4d.
31s. 7d.
26s. 3d.
27s. 5d.
the Franco-Spanish Note has induced the belief that the
The following shows the quantities of wheat, flour and
Moroccan question will be speedily and amicably settled
and once the Moroccan question is out of the way the belief maize afloat to the United Kingdom:
in Paris is that much better relations will be established
This week. Last week.
1907.
1906.
Wheat
1,530,000
qrs_ 1,510,000
1,900,000
1,039,000
with Germany. In many qnarters it is even hoped that Flour,
equal to
155,000
qrs. 170.000
210,000
306 000
a lasting and good arrangement may be arrived at. Even Maize
qrs
685.000
720,000
835,000
790,000
the Balkan question,which for a moment caused anxiety,
is not consid ered very serious. It is hoped that all danger
London, Saturday, September 26, 1908.
of trouble will be guarded against. In Germany trade is
The Committee of Union and Progress of the Young
very depressed, particularly there is great depression in
the iron and coal trades. But in the Bourses there is a fair Turk Party have this week issued their manifesto. It
business doing in investment, especially the loans of the deals almostexclusively with contemplated internal reforms,
Imperial Government; and the Federated Governments are and in any case,until it is ratified by the Chamber of Deputies,
in strong demand.
the elections for which are now in course of perparation,
Money,'as already said, is exceedingly cheap and abund- has little interest for the foreign reader. A more important. It seems almost certain that it will continue abundant ant international question has arisen this week. There
and comparatively cheap throughout the year, and every- has lately been a strike on the Bulgarian section of the
body, therefore, is looking forward to a considerable increase Oriental Railway. For the purpose of maintaining order
in business. Trade,unfortunately,con tin ues very depressed. the Bulgarian Government sent a detachment of troops
There is a large number of people unemployed and the cotton to the scene of disturbance. This, it seems, has been
strike in Lancashire is causing much anxiety. Owing to augmented from time to time, and as the strike has now
the state of trade, there are grave fears that the winter come to an end the Turkish Government has presented
will be a hard one, that there will be much distress in the a note to the Bulgarian Foreign Office asking for the regreat towns, and that there may be even some rioting. in oval of the troops from the Turkish frontier. itt conBut nothing will be left undone by the Government to meet nection with this matter the exceptionally favorable rethe difficulty, and the local authorities of all kinds are being ception which Prince Ferdinand, who is paying a vIsit to
stirred up to take all precautions againgt avoidable suffering the Emperor of Austria at Buda Pesth, has received in
on the part of the poor.
official circles is naturally attracting a'considerable measure
The India Council offered for tender on Wednesday. 60 of attention.
lacs and the applications exceeded 2831k lacs at prices r The Japanese Charge d'Affaires on his arrival in Lonranging from is. 3 29-32d. to is. 3 31-32d.. per rupee. Ap- don to take charge of the Embassy his given an interview
plicants for bilis at is. 3 29-32d. and for telegraphic trans- this week to a representative of Reuter's Agency. Mr.
fers at is. 2 .15'-16d. per rupee were alloted about 18 per Yarn aza dwelt particularly on the 'pacific policy which it
is the intention of his Government to pursue. The earnestcent of the amounts applied for.
Thefollowing statement shows the position of the Bank of ness of this is evidenced by the very material reduction
England the Bank rate of discount, the price of consols, &c., which the Japanese Government has made in its expenditure on the army and on the navy. Japan, like Europe
compared with the last four years:
and the United States, has lately been passing through a
1908.
1907.
1905.
1906.
1904.
period of trade depression. The figures show that during
Oct. 2.
Sept. 30.
Oct. 3.
Oct. 4.
Oct. 5.
the seven months of the current year the exports fell off
Circulation
29,550,010 29,920,490 29,672,960 29,773,075 28,676,145
Public deposits.... 8,091,262 8,621,052 9,730,482 12.015,042 8,281,883 in value to the extent of 3 millions sterling, while the imOther deposits
42,517,288 43,783,812 43,191,786 42,258,148
ports declined to the extent of about a million and a half
Governm't securities 15,732,293 14,335,700 15,956,166 18,663,329 44,404,325
18,044,883
Other secrulties.... 26,237,614 30,820,967 34.974.642 32,373,591 23,977,503 sterling.
Reserve,notes&coin 26,917,535 25,636,348 20,401,793 20,977,869 27,682,777
Contrary to general expectation, the London Stock
Coindrbull.,both dep 38,017,545 37,106,838 31,624,753 32,300,944 37,903,922
Exchange has paid very little attention to the cotton strike
Prop, reserve to liabilities
p. c.
534
484
384
38%
534 which has at last broken out in Lancashire. This is not
Bank rate
p. c.
24
4%
4
4
3
due to any failure on the part of the Stock Exchange to realConsols, 24 p. c.,
854
824
888
88 13-16
88 11-16 ize
Silver
the gravity of the situation, but to a very confident
234d. 30 I3-16d.
314d.
284d.
264d.
Clear.-house returns 248,799,000 279,960,000 294,814,000 320,138,000 262,214,000 belief that
the circumstances of the case are such that the
[VOL. Lxxxvm
THE CHRONICLE
914
London,
Thurs. Frt.
Wed.
Tues.
Mon.
Sat.
trouble will speedily be brought to an end. Home railway
Week ending Oct. 9.
23 15-16 23 13-16 23 11-16
d 23 13-16 23 16-16 23%
per oz
stocks, which are particularly affected by the strike, have Silver,
13-16 84M
84
13-16
84
15-16
84
84
15-16
7-16
85
Consols, new, 234 per cents_
84 3-16
85 9-16 85 1-16 85 1-16 84 15-16 84%
been in better demand than for some time past,while the
For account,.
94.75
95.07M
95.15
95.3734
95.15
has
_
95.55
securities
fr..
Paris)_
ed"
(in
"gilt-edg
called
are
Rentes
French
investment in what
-.84
83%
84
85M
85M
Imperial 4s
been upon a very large scale. There has been an especial Russian
New 5s
do
do
-785i
-iik
-ii%
Indian,
home,
-iicolonial,
-ii77M
_
cent
_
Co__
stocks,
per
Copper
Amalgamated
demand for ni
8%
9
9
9
9
9%
Anaconda Mining Co
88M
90%
and so on. Whether the cotton strike will be so speedily SAtchison
snyx
91%
4
903
Topeka & Santa Fe 90%
97
financial
world
9734
9734
the
by
97M
is
97M
believed
as
98
end
Preferred
brought to an
9731
9954
10054
10054
101k
& Ohio
1004
8936
of London it will be perhaps more easy to say when this Baltimore
8936
89
89
89
89
Preferred
17354
are
that
however,
17954
181q
case,
the
of
facts
The
182
18134
1833
letter is in print.
Canadian Pacific
4154
42
4254
4234
4236
4234
& Ohio
altogether some 550,000 people are estimated to be directly Chesapeake
7
7
7
7
7
736
Chicago Great Western
wage
weekly
a
joint
13634
earning
trade
14034
14034
13954
140
employed in the cotton
Chicago Milw. & St. Paul
13954
28
21334
2854
2834
2754
28
com
The
Grande,
&
£600,000.
Rio
under
Denver
g
somethin
at
-which is computed
68
68
6834
68
6734
68
Preferred
303.4
3254
3134
3354
actual number of people engaged in the strike is about Erie, common
3051
3034
44
4654
46
45
4334
.
oom
operatives
preferred
card-r
as
4454
First
known
are
26,000, and they
37
38
37
36
3534
36
Second preferred
140
142
143
143
The action of these people, so interwined is the whole Illinois
143
143
Central
10634
10834
108
108
108
109
& Nashville
industry, affects altogether about 200,000 hands, and of • LouisvilleCentral
1534
1534
16
16
16
1554
Mexican
to
the
is
continue
strike
if
the
that
evident
is
30
313.4.
course it
3136
3134
3134
3151
Mo. Kansas & Tex., com
.
66
standstill
6034
67
a
to
6534
67
6534
y
be
brought
ultimatel
will
Preferred
whole trade
52
52
5234
52
523.4
RR. of Mexico_ 5234 106
10534
As is usual, there is a very grave question at issue on National
107
107
107
N. Y. Cent. & Mid. River.. _107
to
out.
make
case
42
42
good
4234
4134
very
42
a
403.4
have
sides
Both
Western
&
both sides.
N. Y.Ont.
7436
75
75
7634
75
7394
& Western
But, as in not infrequently the case in disputes, whether Norfolk
84
84
83
84
84
8234
Preferred
a
to
side
is
shifted
142
matter
14334
14536
145
actual
,
141
the
141
otherwise
or
in trade
Northern Pacific
6234
6354
6334
6334
63
6334
anxious,
are
Pennsylvania
spinners
cotton
a
the
is
that
point
real
The
issue.
6536
67
6734
6734
6754
6734
a Reading Co
rapidly
as
wages
reduce
to
4454
45
of
trade,
n
45
45
45
depressio
45
the
owing to
a First preferred
4454
44
4434
4454
4436
4434
a Second preferred
as possible. The operatives, as is natural, desire to delay ltock
1934
21
2034
20
20
2034
Co
Island
10794
10334
10734
10654
10754
this reduction to the latest possible moment. Altogether, Southern Pacific
10754
22
2234
22
2134
roughly,
2154
22
wages,
in
advance
common
an
boom
Ry.,
trade
Southern
late
the
during
53
53
5434
54
5334
54
Preferred
169
164
170
16734
169
of about 15 per cent took place. It is now proposed on Unon
16734
Pacific, common
90
89
90
90
take
should
89
reduction
90
a
that
spinners
cotton
the
Preferred
of
behalf
4634
47
4734
4634
4634
S. Steel Corp., common.... 47
11234
111
11234
112
place as from the first of January next of 5 per cent and U.Preferred
112
112
1234
1234
1236
is
it
13
s
operative
1234
the
of
part
the
13
On
to.
agreed
once
at
Wabash
be
26
27
27
2734
27
27
Preferred
593
60
60
contended that it will be time enough to agree to such
60
60
60
4s
Extended
a proposal if the state of trade at the end of the year makes
a Price per share. b £ sterling.
is imperative, their reason for declining to agree at once
being that they fear that should trade continue dull the
ntrcial and Pliscrilantons4,exus
whole of the late gain of 15 per cent will ultimately be T.onxi
numimmense
the
amongst
that
fact
the
to
Owing
lost.
Breadstuffs Figures Brought from Page 957.-The statebers of people employed there is a very large proportion ments below are prepged by us from figures collected by
of female and even child labor, it is exceedingly difficult the New York Produce Exchange. The receipts at Western
to say what is the average rate of wages per operative. lake and river ports for the week ending last Saturday and
In fact, it is hardly possible to make a calculation which
three years have been:
that where since Aug. 1 for each of the last
would be of any real value. It is estimatedfamily
work
Barley.
Rye.
Oats.
Corn.
Wheat.
a considerable portion of the members of a per annum Receipts at- Flour.
in the mills the joint earnings will be about £110
lbs. bush. 32 lbs. bush.4131bs. fru. 56 lbs.
56
bush.
60Th..
bush.
bbls.196lbs.
for the
30,000
585,082 1,198,271 2,278,468 1,265,700
to a few pounds higher. Cotton operatives are, when in Chicago __ _ _ 213,214
526,800
33,300
598,400
13,000
419,000
68,800
Milwaukee.._
981,465
395.314
82,747
most part, like most Englishmen, liberal spenders
4,224,596
190,100
Duluth
the
in
published
are
which
972,210
78,540
885,970
reports
the
42,680
from
and
4,891,200
Minneapolis..
full work,
55,500
6,000
little resources Toledo
21,700
53,000
88,900
papers it seems evident that they have
37,200
68,700
6,800
Detroit
times.
good
1,666
64,700
recent
the
8,340
from
over
4,000
saved
_
1,528
181,400
11,000
825,600
to day Cleveland__
400,760
528,401
78,990
Louis_ _ _
Money remains very cheap and plentiful-daythan 13A St.
222,000
91,000
7,000
192,343
17,000
19,800
Peoria_
better
no
discounts
and
cent,
109,500
per
111,100
to
M
loans
1,403,850
the gold Kansas City.
of
none
retained
England
of
Bank
The
cent.
per
4,020,241 248,587
the whole
571,132 12,194,829 2,025,394 5,524,352
Tot.wk.'08
5,267,940 3,455,701 326,316
arriving from the mining countries on Monday,
307,808 6,042,442 6,222,927 4,974,430
wk.'07
Bank of Same
2,580,902 240,230
594.189 8,660,839 3,692,886
Same wk.'06
going abroad and the bulk of it to Paris. The
% millions
France holding of gold now amounts to 1293
1
Aug.
Since
a
colorless
24,803,523 1,923,298
sterling. The Bank of England statement is
4,120.644 74,823.605 23,608,790 43,313,201
1908
14,452,998 1,777,067
,
3,246,778 56,869,887 41,140,952 52,555,028
1907
document. Some money has come in from the provinces
35,970,699 49,144,861 11,823,881 1,224,764
60,456,719
4,575,988
1906
at
and, consequently, the reserve is somewhat better on just
last
under 283 millions sterling, being an increase
Total receipts of flour and grain at the seaboard ports for
week, and slightly better than at this time last year. The the week ended Oct. 3 1908 follow:
a
being
Rye,
Oats,
Barley,
Corn,
1Vheat,
Flour,
coin and bullion item is 38M millions sterling, with
bush.
bush.
bush.
bush.
bush.
last
bbls.
Receipts atsmall decrease compared with last week and also
381,000 217,700 33,150
20,425
224,691 1,447,400
New York
4,895
110,422
1,000
11,899
65,438
47,338
year.
Boston
23,029
109,894
16,821
548,726
y 60 Philadelphia
72,488
The India Council offered for tender on Wednesda
71,765
50,476
25,009
276,025
64.857
3173
Baltimore
lacs,
2,922
33,598
12,750
23,850
3,743
Ines of its bills and the applications amountedto
Richmond
per New
45,500
72,500
163,000
17,055
Orleans *
at prices ranging from is. 3 15-16d. to is. 3 31-32d.
24,773
11,661
.
_
_
News_
rupee
per
Newport
11,388
rupee. Applicants for bills at is. 3 15-16d.
Norfolk
applied for.
95,000
207,000
were allotted 15.98 per cent of the amounts.of the Bank of Galveston
7,100
4,075
Mobile
17,462
94,223
The following statement shows the position
7,176
33,961 1,491,785
Montreal
&c.,
consols,
-England,the Bank rate of discount, the price of
136,061
236,162
852,886
268,680
4,223,524
491,312
Total week
37,200
6,737
compared with the last four years:
702,311 1,008,951
447.939 4,195,648
1908.
Sept. 23.
£
Nr
28,802,685
Circulation
7,639,534
Public deposit&
44,292,844
Other deposits
Govenim't securities 15,532,293
26,500,151
Other securities
Reserve,notes&coin 28,218,155
Coln&bull.,both dep 38,570,840
Prop. reserve to lia54 5-16
p.c.
bilities
236
Bank rate_ __p. c.
85 11-16
Consols, 2M p. c. _
24d.
Silver
Clean-house returns.187,017,000
1907.
Sept. 25.
£
29.179,375
9,301,989
45,284,594
14,338,076
30,606,515
28,039,202
38,768,667
1906.
sept. 26.
.c
29,090,75o
11,325,617
43,196,685
16,958,452
33,584,812
23,381,416
34,022,166
1905.
Sept. 27.
29,271,425
14,203,316
45,169,232
18,667,070
35,297,160
23,807.561
34,628,996
1904.
Sept. 28.
28,401,895
8,404,465
41,886,596
14,227,140
25,459,265
28,069,468
38,921,363
571
40
42%
515
*4
4
434
9-16
8836
89
8634
82q
28Md. 26 13-16d.
31 1-16d. 31 7-16d.
204,162,000 194,251,000 187,852,000 164,860,000
Messrs. Pixley & Abell write as follows under date of
Sept. 24:
Week 1907
3628,090 2038,764
Since Jan. 1 1908_13,153,173 77,276,776 31,207,930 34,074,809
1470,906
Since Jan. 1 1907_14,620,484 83,039,364 74,204.010 42,542,681 3629,505
for foreign ports on
Orleans
New
through
pa.ssing
grain
include
not
do
Receipts
*
through bills of lading.
The exports from the several seaboard ports for the week
are shown in the annexed statement:
ending Oct. 3 1908
Rye, Barley, Peas,
Oats,
Corn, Flour,
Wheat,
bush.
Exports from1,463,031
New York
63,835
Boston
Philadelphia __ 386,499
428,000
Baltimore
New Orleans ____ 248,000
Newport News..
1,657,184
Galveston
Mobile
670,444
Montreal
Norfolk
bbls.
bush.
2,620 86,449
17,160
3,861 36,086
1,500 16,515
9,183 6,616
11,661
4,435
7,100 4,075
16,894
11,388
bush.
bush,
bush,
25,558 17,068 18.606
136
216
24,773
25,714
8,571
bush.
2,546
18
25,250
3,411
was again taken by the Continent at
GOLD.-The whole of this week's arrivals
Since our last the Bank of England has
54,094 51,353 18.606 27,813
24,264 210,279
775. 10%,(I., Paris being the chief buyer. £128,000 has been withdrawn, of which
Total week ......4,916,993
15,788 25,692 10,495 8,5W
received £12,000 from Australia, whilst
3,261,833 515,282 351,283
from the Cape. Arriv- Week 1907
£100,000 Is for Argentine. Next week we expect £1,002.000
the week and since
for
West
Africa,
£26,500;
exports
n
miles,
of
West
these
destinatio
£27,000;
The
Australia,
als-South Africa, £446,500;
£24,500.
as below:
is
£31,000; total, £531,000. Shipments-Bombay,
1908
1
July
-Corn
been the principal support ot the
1V heat
Flour
SILVER.-The Indian Bazaaars have again
Since
Since
for shipment to Bombay by this
Since
market, considerable amounts having been bought
Week
July 1
1
have
seller.
Quotations
July
fluctua
been
Week
1
has
July
Week
China
hand
other
the
week's mall. On
Oct. 3.
1908.
1908.
is
the
close
at
dull
at
market
the
3.
Oct.
the
and
3.
1908.
Exports for week and Oct.
ated between 23 15-16d. and 24 3-16d.,
bush.
bush.
bush.
9-16 per 100 Tolahs for the October
bush.
bbls.
bbls.
since July 1 toformer figure. The Bombay quotation is Rs.61
1,897
224,027
15,950,431
West
£4,000;
Indies,
£8,000;
1,272,378
Mexico,
1,103,252
£164,000;
106,643
Kingdom....
United
settlement. 4rtivals-New York,
58,454
20,812,816
£10,000;
Calcutta,
£325,total,
3,644,615
57,211 635,095
Continent
total, £176,000. Shipments-Bombay,£315,850;
183
58,484
9,136
So. dc Cent. Amer.._ 13,755 186,296
850.
22,184
342,423
28,970 389,323
West Indies
4,320
32,206
Brit. No. Am. Cols_ 3,700
5.539
5,954
72,648
______
Markets-Per Cable.
Other countries
English Financial
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
Total
Total 1007
210,279 2,508,910 4,916,993 36,857,270
351,283 2,956,724 3,261,833 32,521,984
24,264
644,314
615,282 14,724,098
THE CHRONICLE
Our. 10 1908.1
The world's shipments of wheat and corn for the week I
ending Oct. 3 1908 and since July 1 in 1908 and 1907 are
shown in the following:
Wheat.
Exports.
Corn.
1908.
1907.
Since
July 1.
Week
Oct. 3.
Bushels.
North Amer.6,077,000
Russian
2,168,000
Danubian _ _ 1,416,000
Argentine _ _ 984,000
Australian_ _ 560,000
0th. countr's 336,000
Bushels.
51,494,700
14,744,000
12,184,000
21,034,000
3,056,000
4,872,000
1907.
1908.
Since
July 1.
Week
Oct. 3.
Since
July 1.
Since
July 1.
Bushels.
Bushels. Bushels. Bushels.
42,112,000
789,400 13,014,000
18,000
28,832,000 476,000 4,723,500 9,224,000
10,792,000 213,000 5,735,500 19,712,000
7,112,000 2,270,000 27,899,500 22,384,000
3,488,000
19,664,000
Total ____ 12141000 107,384,700 112,000,000 2,977,000 39,147,900 64,334,000
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Corn.
Wheat.
United
Kingdom. Continent.
Bushels.
October 3 1908 15,120,000
Sept. 26 1908 13,440,000
October 5 1907118,360,000
United
Kingdom. Continent.
Total.
Bushels. Bushels.
16,640,000 31,760,000
14,640,000 28,080,000
16,320,000 34,680,000
Bushels.
6,630,000
6,120,000
7,720,000
Total.
Bushels.
Bushels.
5,780,000 12,410,000
5,525,000 11,645,000
3,480,000 11,200,000
The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports Oct. 3 1908, was as follows:
New York
Boston
Philadelphia
Baltimore
New Orleans
Galveston
Montreal
Buffalo
Toledo
Detroit
Chicago
Milwaukee
Fort William
Port Arthur
Duluth
Minneapolis
St. Louis
Kansas City
Peoria
Indianapolis
On Lakes
On Canal and River__ _
Wheat,
bush.
1,218,000
87,000
582,000
713,000
607,000
358,000
359,000
1,690,000
436,000
153,000
4,141,000
336,000
2,036,000
1,244,000
4,058,000
5,638,000
2,645,000
2,771,000
2,000
525,000
4,196,000
488,000
Total Oct. 3 1908_ _34,281,000
Total Sept. 26 1908_ _29,924,000
Total Oct. 5 1907_43,597,000
Total Oct. 6 1906...34,652,000
Total Oct. 7 1905_20,762,000
Total Oct. 8 1904_ _20,797,000
Total Oct. 10 1903_20,868,000
Total Oct. 11 1902...26,111,000
Corn,
bush.
92,000
Oats,
bush.
929,000
35,000
82,000
221,000
159,000
5,000
78,000
72,000
54,000
10,000
183,000
55,000
140,000
1,628,000
13,000
116,000
798,000
547,000
297,000
192,000
446,000
18,000
65,000
88,000
63,000
54,000
926,000
33,000
859,000
1,226,000
602,000
206,000
721,000
196,000
48,000
112,000
Rye,
bush.
59,000
26,000
23,000
101,000
Barley,
bush.
41,000
37,000
412,000
84,000
119,000
60,000
49,000
447,000
608,000
132,000 1,536,000
39,000 1,353,000
54,000
30,000
18,000
11,000
30,000
25,000
1,276,000
315,000
3,577,000
7,702,000
795,000
822,000
3,527,000 6,629,000
3,847,000
6,155,000
804,000
4,340,000
8,519,000 1,570,000
4,626,000 20,721,000 1,435,000
4,555,000 22,538,000 1,499,000
968,000
8,398,000 6,821,000
2,541,000
8,356,000 1,089,000
6,090,000
5,338,000
4,138,000
2,568,000
5,198,000
5,302,000
4,059,000
2,831,000
_
--Auction Sales.-Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:
Stocks.
30 Bond & Mtge. Guar. Co--..310 M
30 United Shoe Mach. Corp.
common
$54 M per sh.
20 United Shoe Mach. Corp.
Preferred
$28 per 8h.
150 Brooklyn City RR. Co_ - _ - 188
18 Imp. & Traders' Nat. Bk.. _ 540
15 Market & Fulton Nat. Bk _ _248 g
20 Title Guar. es Trust Oa__-400
1 N. Y. Law Institute
105
100 Ferris Ave. Realty Co_$2,000 lot
50 Lone; Island Bond & Mtge.
Guarantee Co
131
Stocks.
20 Columbia Trust C0.21636-216 M
50 Phenix National Bank_ _ _ _155
165
100 Carnegie Trust Co
Bonds.
$1,000 Union Ferry Co. 5s,
1920, M. & N
85%
$5,000 Lawrence Harbor Land
& Imp. Co. 1st 6s, 1911,
M. & N
$2,000 lot
$5,000 The Londonderry Iron ec
Mln. Co., Ltd., 1st 5s, 1935
$1,005 lot
National Banks.-The following inform ation regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department.
APPLICATIONS TO CONVERT INTO NATIONAL BANKS
APPROVED.
The Parma State Bank, Limited,Parma,Idaho, into "The First National
Bank of Parma." Capital, $50,000.
CHANGE OF TITLE.
7,457-The Western National Bank of Louisville, Kentucky, to "The
Continental National Bank of Louisville.
LIQUIDATIONS.
,193-The Lockney National Bank, Lockney, Tex., was placed In voluntary liquidation Sept. 15 1008.
6,210-The National Bank of Hastings, Okla., was plaeed In voluntary
liquidation Oct. 1 1908.
DIVIDENDS.
The following shows all the dividends announced for the
future by all large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
When
Cent. Payable.
Railroads (Steam).
216
Atch. Topeka & Santa Fe, common
Atlantic Coast Line RR., pref.(quar.)_ _
2
Central RR. of New Jersey (guar.)
3%
Chic. Milw. & St. Paul, corn. and pref....
Clev. Cinc. Chic. & St. L., pref. (quar.)
2%
Delaware Lackawanna & Western (qu.)
4
Evansville & Terre Haute, common
2% b
Preferred
Georgia RR. & Banking (quar.)
1%
Grand Rapids dc Indiana
4
Grand Trunk, guaranteed
Great Northern (guar.)
Kansas City Southern, preferred (quar.)- 1
Minneap. St. P. & S. 8. M., com.(N0.11) 3
3%
Preferred (No. 11)
2
Missouri Kansas & Texas, preferred
13(
N. Y. Central & Hudson River (quar.)Northern Pacific (guar.)
2
Reading Company. 2d peel
Dec.
Nov.
Nov.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Oct.
Nov.
Oct.
Oct.
Oct.
Nov.
Oct.
Nov.
Nov.
Books Closed.
Days Inclusive.
1 Holders of rec. Nov. 5
10 Nov. 2 to Nov. 10
2 Holders of rec. Ott. 20
20 Holders of rec. Aug. 19
20 Holders of rec. Oct. 2
20 Holders of rec. Oct. 2a
2 Holders of rec. Sept. 18
15 Holders of rec. Sept. 15
15 Oct. 2 to Oct. 14
26 Oct. 18 to Oct. 26
23
2 Holders of rec. Oct.14a
15 Holders of rec. Sept.30
15 Holders of rec. Sept.25
15 Holders of rec. Sept. 25
to Oct. 21 to Nov. 9
15 Holders of rec. Sept.22
Oct. 17 to Nov. 3
10 Holders of rec. Oct. 21
915
Per
When
Cent. Payable
Name of Company.
*Books Closed.
Days Inclusive.
Railroads (Steam) (Concluded).
St. Louis & San Francisco, 1st pref. (qu.) 1
Nov. 2 Holders of rec. Oct. 9
Toledo St. Louis & Western, preferred _
2
Oct. 15 Oct. 7 to Oct. 15
Street & i.lectric Rati.vays.
Auburn & Syracuse Elec. RR., pref. (got.) 1% Oct. 15 Oct. 1 to Oct. 15
Aurora Elgin & Chicago, common (guar.)
Oct. 10 Sept.27 to Oct. 11
Preferred (quar.)
ig Oct. 10 Sept. 27 to Oct. 11
Boston Suburban Electric Cos.. pref_ _ _ _ d 75c. Oct. 15 Holders of rec. Oct. 5
Brooklyn City RR.(guar.)
Oct. 15 Oct. 2 to Oct. 15
Cinc. Newport & Covington, corn.(guar.)
Oct. 15 Oct. 1 to Oct. 15
Preferred (guar.)
1% Oct. 15 Oct. 1 to oct. 15
Lincoln Traction, common
4
Oct. 15 Oct. 11 to Oct. 15
Manchester Trac., Light & Power (guar.) 2
Oct. 15 Holders of rec. Oct. 1
Philadelphia Company, common (guar.). 1% Nov. 2 Holders of rec. Oct. 1
United Rys. of St. Louis, pref. (guar.)._
13% Oct. 10 Sept.25 to Oct. 11
Banks.
Mount Morris (No. 35)
4
Nov. 2 Oct. 22 to
New York Produce Exchange
3
Oct. 15 Oct. 7 to Oct. 15
Extra
1
Oct. 15 Oct. 7 to Oct. 15
Trust Companies.
Union (guar.)
12% Oct. 10 Oct. 6 to Oct. 9
Fire Insurance.
North River
5
Oct. 10 Oct. 3 to Oct. 9
Miscellaneous.
Amer. Agricultural Chem., pref.(No. 19) 3
Oct. 15 Sept.25 to Sept.30
American Chicle, common (monthly).... 1
Oct. 20 Oct. 15 to Oct. 20
Amer. Light de 2'rac., corn. (guar.)
13
% Nov. 2 Oct. 22 to Nov. 1
Preferred (guar.)
136 Nov. 2 Oct. 22 to Nov. 1
American Locomotive, pref.(guar.)
13% Oct. 21 Sept. 22 to Oct. 21
American Malting, preferred
$1 66 Nov. 2 Oct. 23 to
American Seeding Machtng, pref. (guar.). 136 Oct. 15 Holders of rec. Sept.30a
23% Nov. 3 Oct. 23 to
American Malt Corporation, preferred .__
American Shipbuilding, preferred (guar.) 1M Oct. 16 Holders of rec. Oct. 5
Oct. 15 Sept. 26 to Oct. 1
Amer.Smelt. & Ref., corn.(qu.)(No. 20) 1
Oct. 15 Holders of roe. Sept.I30
American Telephone & Telegraph (ouar.) 2
American Type Founders,common (guar) 1
Oct. 15 Holders of rec. Oct. 10
Preferred (guar.)
13% Oct. 15 Holders of rec. Oct. 10
American Woolen, pref. (guar.)(No. 38). 13% Oct. 15 Sept.26 to Oct. 4
Anaconda Copper Mining (qu.)(No. 32)- 50c. Oct. 14 Holders of rec. Oct. 3
134 Oct. 15 Oct. 11 to Oct. 15
Associated Merchants, lot pref. (guar.)._
13% Oct. 15 Oct. 11 to Oct. 15
Second preferred (guar.)
Bell Telephone of Canada (guar.)
2
Oct. 15 Holders of rec. Sept. 25
Bell Telephone of Penne (quar.)
13% Oct. 15 Oct. 6 to Oct. 15
Central Coal & Coke, pref., (qtr;r.)
13% Oct. 15 Holders of rec. Sept. 30
_
Central Dist. d; Print. Teleg.
Oct. 31 Holders of roe. Oct. 24
2
Century Realty
5
Oct. 15 Holders of rec. Oct. 10
Chicago Telephone (guar.)
2
IDec. 31 Holders of rec. Dec. 23
Stock dividend
20e Oct. 10 Holders of rec. Oct. 3
Clan'(H. B.), corn. (quar.)
to Oct. 15
2
Oct. 15 Oc .6
Commonwealth-Edison (guar.)
13% Nov. 2 Oct. 21 to
Consolidated Ice of Pitts., pref. (guar.)._
13% Oct. 20 Holders of rec. Oct. 9
Corn Products Refining, preferred (guar.) 1
Oct. 10 Holders of rec. Sept.30
Distillers' Securities Corp.(qu.)(No. 24)
36 Oct. 31 Oct. 1 to
Distilling Co. of America (guar.)
Oct. 30 Oct. 1 to
1
du Pont(E.1.) deNemours Powd.,pf.(au.) 13% Oct. 26 Holders of rec. Oct. 15
Eastman Kodak,common (extra)
23% Nov. 1 Holders of rec. Sept.30
Common (extra)
5
Dec.
1 Holders of rec. Oct. 31
Edison Elec. Ill. of Boston (guar.)(No.78) 23% Nov. 2 Holders of rec. Oct. 15
Electric Bond de Share, pref. (guar.)
13.i Nov. 1 Oct. 17 to Nov. 1
General Electric (guar.)
2
Oct. 15 Holders of rec. Sept 9a
Harbison-Walker Refractorie.s, pref. (mi.). 13% Oct. 20 Holders of rec. Oct. 10
Internat. Buttonhole Sew. Mach.(No.44) 1
Oct. 15 Holders of me. Oct. 5
Internat. Steam Pump, pf. (qu.) (No. 38) 136 Nov. 2 Oct. 21 to Nov. 3
International Nickel, preferred (auar.).. 13% Nov. 2 Oct. 11 to Nov. 3
International Paper, pref. (guar.)
36 Oct. 15 Oct. 6 to Oct. 25
Internat. Smokeless Powd. & Chem., pref 4
Nov. 14 Holders of rec. Nov. 4
Massachusetts Lighting Companies(quar.) 13% Oct. 15 Holders of rec. Oct. 1
Mexican Light & Power, Ltd. (guar.)._
1
Oct. 15 Oct. 9 to Oct. 15
Mexican Telegraph (guar.)
23% Oct. 16 Holders of rec. Sept. 30
Michigan State Tel.. pref.(au.)(No. 19). 13% Nov. 2 Oct. 21 to Nov. 3
National Biscuit. corn. (auar.) (No. 40) 131 (St.. 15 (folders of rec. Sept.28a
National Carbon, common (quay.)
1
Oct. 15 Oct. 6 to Oct. 15
N. Y. & N. J. Telep. (guar.)(No. 100).- 13% Oct. 15 Holders of rec. Oct. 5
NewYork Dock, preferred
2
Oct. 15 Holders of rec. Oct. 1
Nova Scotia Steel & Coal, Ltd., pf.(qu.)_ 2
Oct. 15 Oct. 1 to Oct. 5
Otis Elevator, common
134 Oct. 15 Holders of rec. Sept.30
Preferred (quar.)
136 Oct. 15 Holders of rec. Sept.30
Pennsylvania Salt Mfg.(No 91)
Oct. 15 Holders of rec. Sept.24
6
Procter & Gamble. Preferred (cluar.)- --- 2
Oct. 15 Sept.27 to Oct. 14
Quaker Oats, common (quar.)
136 Oct. 15 Solders of roe. Oct. 5
Common (extra)
3.5 Oct. 15 Holders of rec. Oct. 5
Railway Steel Spring, common
1
Oct. 22 Oct. 8 to Oct. 22
Realty Associates (No. 11)
3
Oct. 15 Holders of rec. Oct. 18
Extra
2
Oct. 15 Holders of rec. Oct. 8
Reece Buttonhole Mach.(guar.)(No. 90) 2 , Oct. 15 Holders of rec. Oct. 15
Ithode Island Perk. Horseshoe, pf.(qu.). 13% Oct. 15 Holders of rec. Oct. 1
Shawinigan Water & Power
1
Oct. 20 Holders of rec. Oct. 7
Southern N. E. Telephone (guar.)
134 Oct. 15 Oct. 1 to Oct. 15
Standard Milling, pref. (No. 11)
13% Oct. 31 Oct. 27 to Nov. 1
Preferred (extra)
36 Oct. 31 Oct. 27 to Nov. 1
Standard Underground Cable (quar.)....... 3
Oct. 10 Holders of rec. Oct. 5
36 Oct. 26 Oct. 15 to Oct. 25
Street's West. Stable-Car Line, corn.(qu.)
Union Bag & Paper, pref.(guar.)(No.38) 1
Oct. 15 Holders of rec. Sept.30
Union Switch & Signal, corn. & pf.(qu.). 3
Oct. 10 Oct. 1 to Oct. 10
United Fruit (guar.)(No. 37)
2
Oct. 15 Holders of rec. Sept. 26
United Gas Improvement (auar.)
2
Oct. 15 Holders of rec. Sept. 30
U. S. Realty & Improvement (guar.)
Nov. 2 Holders of rec. Oct. 20
1
U. S. Rubber, 1st pref. (guar.)
2
Oct. 31 Holders of rec. Oct.15a
Second pref. (quar.)
136 Oct. 31 Holders of rec. Oet.15a
U. S. Smelt., Henn. & Min., corn.
Oct. 15 Holders of rec. Oct. 1
1
Preferred (guar.)
13% Oct. 15 Holders of rec. Oct 1
Virginia-Carolina Chem.. pt.(qu.)(No.52) 2
Oct. 15 Oct. 1 to Oct. 14
Vulcan Detinning, pref. (guar.)
134 Oct. 20
Western Union Teleg. (guar.)(No. 158).36 Oct. 15 Sept. 20 to Oct. 15
Westinghouse air Brake (quar.)
236 Oct. 10 Sept. 26 to Oct. 10
a Transfer books not closed. b Also 236% payable April 15 1909. d Declared
$3 payable in quarterly installments. e Payable in stock.
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Oct. 3; 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
Total 40 weeks
1908.
1907.
1906.
1905.
2,732,835
11,418,872
$3,423,608
10,794,323
$3,015,361
12,774,858
$2,836,332
12,924,332
$14.151,707 $14,217,931 $15,790,219 $15,760.664
$94,977,272 $147,056,096 $124,754,327 $108,717,901
368,241,833 511,267,005 458,169,806 425,452,038
$463,219,105 $658,323,101 $582,915,133 $534,169,939
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. 3 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
1908.
1907.
I
1906.
1905.
For the week
Previously reported
$11,535,074 316,347,355 $15,760,174 $9,835,570
I 470,398,563 467,807,199 461,2.12,447 397,805,205
Total 40 weeks
$481,933,637 $484,154,554!$477,002,621 $407,640,775
rvoL. Lxxxvii.
THE CHRONICLE
916
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
Exports.
Imports.
Gold.
Week.
Great Britain.,
France
Germany
West Indies
Mexico
South America
All other countries
Since Jan1
$2,524,737
23,640,879
19,017,343
1,334,500
4,000
1,116,606
9,860
Total 1908
Total 1907
Total 1906
Week.
Since Jan.1
$10,409 5,691,432
7,850 1,036,131
' 24,958
4,327,464
103
426,515
120,082 2,270,275
6,406 2,485,144
$47,647,925 $144,850 $14,261,919
10,000 34,444,015
107,889 8,032,981
970 5,888,514 5,470,234 81,489,394
Silver.
Great Britain
France _
Germany
West Indies
Mexico _
South America • •
All other countries
$398,030 $28,222,843
407,600 3,633,600
• 41,900
509
255,131
3,000
350
$806,139 $32,156,824
1,255,641 38,894,346
547,903 39,656,474
Total 1908
Total 1907
Total 1908
--
$1,708
5,829
34,360
43,038
10,228
$60,529
66,584
110,149
155,059
1,256,936
712,992
941,224
$95,163 $2,803,473
38,265 2,300,670
49,104 1,812,191
Nofe.-ln toe case of the Clearing-liouse banks, the deposits are "net" both for
the average and actual fificuree;,,Iii all other cases "gross" depoSits are shown. The
clearing-Holise actual figitre!? inelfuled United States deposits amounting to $9.240,200, a decrease of $1,900 from last week; averages include United States
deposits of $9,336,200, an Increase of $117,200 over last week.
"Reserve on deposits" Includes, for both trust companies and State banks, not
only cash Items but amounts,due from reserve agents, and in the case of trust companies includes likewise mtialcfpal bonds. State banks InNew York City City are required by law to carry a reserve amounting to 15% of deposits, while outside of
New York City only 10% is required, which reserve in both cases need not be more
than one-half in cash. Trust companies in Greater New York are required to keep
a reserve of 15%, of which only 5% need be in cash and 5% more may be in municipal bonds, while in the case of the trust companies in the rest of the State the required reserve is 10%, of which only 3% need be in cash and 3% more may be in
municipal bonds.
The State Banking Department also furnishes the following report for State banks and trust companies outside of
Greater New York.
STATE BANKS & TRUST CO'S OUTSIDE OF GREATER NEW YORK.
Week ending October 3 1908.
$78,465,500 $85,904,900 $20,219,900 24.4
+361,700 +1,132,700 +1,009,900
22,632,400 18.1
Trust Companies
120,710,700 129,328,900
-45,300
+86,600
+86,600
State Banks
+ Increase over last week. -Decrease from last week.
-Reports of Non-Member Banks -The following is the
Of the above imports for the week in 1908, $1,509. were
condition of the
American gold coin and S1,500 American silver coin. Of statement of Oct. 3, based on non-member banks for the
week ending
average daily results:
the exports during the same time, $__
were American
We omit two ciphers (00) in all cases.
were American silver coin.
gold coin and $
Legal'
Deposit with
Statement of New York City Clearing-House Banks.-The
Loans.
Disc'is
Tender
detailed statement below shows the condition of the New
SurCapiand
Specie. and
ClearNet
Other
Banks.
plus.
Bank
Investtal.
ing
Banks, Deposil
York City Clearing-House banks for the week ending Oct.
Agent.
&c.
merits.
Notes.
3. The figures for the separate banks are the averages of
the daily results. In the case of the totals, however, a de- N. Y. City.
of
parture was made with the statement for Feb. 8, so that in Boroughs
5'
$
Man.&Biz.
S.
addition to the averages for the week the actual figures at Wash. H'ts. 100,0 207,5 968,0 23,0 101,0 224,0
1,033,3
1,813,8
200,0
145,3 1,697,2
Century ___
20,4 160.6
105,7 -2-5-87,
the end of the week are now given.
100,0
500,6 3,713,1 465,7 197,2
415,9 844,0 5,118,5
Colonial _ _
We omit two ciphers (00) in all cases.
Banks
00t omitted.
.Bank of N. Y.
Manhattan Co_
Merchants' _ _
Mechanics' _ _
America
Phenix
City
. Chemical
Merchants' Ex_
Gallatin
Butch. & Drov
Greenwich _
Amer. Exch..- _
Commerce
Mercantile _
Pacific
Chatham
People's
Hanover
Citizens' Cent_
Nassau
Market &Fult'n
'Metropolitan
Corn Exchange
Imp. & Traders'
Park
East River_
• Fourth
SeCond
First
Irving Nat. Ex.
Bowery
N. Y.County
German -Amer_
Chase
Fifth Avenue_ _
German Exch_ _
Germania
Lincoln
Garfield
Fifth
Metropolis _ „ _ _
West Side
• Seaboard
Liberty
N.Y.Prod. Ex.
State
14th Street_ _
Copper
C'aptlal. Surplus.
Loans.
Average.
Specie. Legals. Deposits. ReAverage. Average Average. eve.
2,000,0 3,281,2 21,758,0 4,281,0 1,170,0
2,050,0 3,305,2 27,100,0 10,012,0 1,483,0
2,000,0 1,661,6 21.750,0 4,591,0 2,099,0
3,000,0 3,723,9 25,656,0 5,739,0 1,080,0
1,500,0 4,804,2 29,527,7 6,030,9 2,628,9
1,000,0
578,6
7,512,0 2,861,0
274,0
25,000,0 25,619,3 199,161,0 72,480,2 7,890,0
3,000,0 5,783,7 31,565.5 6,220,3 1,857,2
506,2
7,059,5 1,170,3
600,0
647,9
9,259,1 1,172,0
1,000,0 2,445,8
658,3
300,0
149,2
2,228,6
122,1
398,2
200,0
500,0
729,5 , 6,240,5 1,509,5
5,000,0 5,192,0 31,967,0 5,108,3 1,259,6
25,000,0 15,667,4. 174,515,2 27.701,3 13,641,4
620,5
3,000,0 2,490,4 10,862,1 1,100,6
623,3
3,490,7
216,6
500,0
846,8
7,012,5
910,6 1,046,7
450,0 1,027,9
429,1
58,3
1,976,3
457,9
200,0
3,000,0 9,932,1 67,075,7 11,758,2 9,446,7
305,3
21,985,7 5,463,4
2,550,0 1,381,1
673,4
4,694,3
581,2
372,9
500,0
7,694,0 1,519,8 1,561,8
1,000,0 1,599,0
136,3
2,000,0 1,142,0 10,766,5 2,913,6
3,000,0 5,156,3 44,336,0 5,863,0 7,336,0
1,500,0 7.308,2 26,719,3 4,827,0 1,554,0
3,000,0 9,583,4 93,243,0 26,310,0 1,126,0
1,189,0
147,9
251,0
110,5
250,0
3.000,0 3,365,7 27,127,0 4,244,0 3,270,0
243,0
1,000,0 1,724,4 10,042,0 2,390,0
10,000,0 16,699,0 124,936,5 30,493,8 1,060,5
2,000,0 1,375,0 18,878,6 3,855,2 1,174,9
1,972,6
783,8
66,0
704,0
250,0
7,461,1 1,229,4
500,0 1,105,3
614,6
3,812,2
621,2
750,0
205,5
746,9
5,000,0 5,308,5 82,307,8 17,627,5 4,255,8
100,0 2,053,2 11,829,5 2,430,9 1,1.14,1
897,2
4,022,1
200,0
155,0
645,0
4,447,3
200,0
967,8
740,8
621,8
1,000,0 1,213,6 15,753,1
3,417,3 1,036,3
.1,000,0 1,144,8
7,180,0 1,848,5
462,0
453,3
3,178,4
250,0
456,2
343,2
1,000,0 2,061,9 10,764,5 1,489,4 1,302,4
4,243,0
200,0
777,1
258,0
940,0
1,000,0 1,649,7 20,441,0 5,337,0 1,673,0
557,1
1,000,0 2,480,3 15,924,4 3,061,7
6,854,4 1,874,3
684,5
1,000,0
113,8
1,000,0
241,0
757,8 10,367,0 3,373,0
4,629,4
294,2
1,000,0
471,7
700,9
208,4
2,000,0 2,445,5 19,613,6 4,301,4
20,824,0 26.3
43,500,0 47.1
24,082,0 28.0
26,387,0 26.1
32,919,1 26.3
8,224,0 38.8
225,328,3 36.0
31,602,6 25.5
7,540,5 24.5
7,222,8 25.6
1,962,0 26.5
6,848,6 24.9
25,424,4 25.0
161,491,9 25 7
6.808,7 25.7
3,193,2 26.3
7,519,2 26.2
2,169,8 22.4
79.511,1 26.9
22,066,7 26.4
5,031,5 24.9
8,741,8 35.4
11,013,5 27.6
52,036,0 25.5
24,790,0 25.8
107,674,0 25.5
1,352,3 29.5
29,025,0 26.0
10,744,0 24.5
125,171,9 25.4
19,915.5 25.4
3,255,0 25.4
7,848,0 24.2
3,610,4 26.3
91,740,5 23.9
13,179,5 26.8
3,785,7 21.1
5,153,6 26.4
17,401,4 25.7
7,599,3 30.8
3,297,3 24.6
10,712,0 26.0
4,728,0 25.3
24,973,0 28.1
15,020,6 24.2
7,980,0 24.9
12,991,0 27.8
4,746,8 24.7
18,627,9 24.4
Totals, aver. 126,350,0 103,720,1 1312,130,7 311,896,3 79,585,7 1396,771,4 28.2
'Actual
Oct. 3
1311,329,0 307,493,3 79.225.1 1391,320,4 27.9
On the, Oasis ox avera.fes, circulation amounted to $53.756,50J and United States
deposits •(included in deposits) to $9,219,000; fietual figures Oct. 3, circulation,
$53,636,200; 'United States deposits. $9,240,200.
The ,statements compiled by the State Banking Department, together with the totals for the Clearing-House banks,
both the averages for the week and the actual figures at the
end of the week, arejthown in the following table. In the
figures for State banks and trust companies all of these institutions in Greater New York are included.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ending October 3 1908.
Reserve on P.C.
Loans and
003 omitted. Investments. Specie.
Deposits. of ReDeposits.
Legate.
$
serve.
Clearing-House
Banks-Actual.1,311,329,0 307,493,3 79,226,1 1,391,320,4 386,719,4 27.97
-276,8 -10,874.9 -944,3 -12,723,5 -11,819,2
Clearing-House
•
Banks-Aver__1,312,130,7 311,896,3 79,585,7 1,396,771,4 391,482,0 28.21
-9,163,6 -10,041,3
+110,2 -9,298,2 -743,1
State BanksAverage
334,183,1 103,143,9 31.4
55,636,4 25,863,8
279,917,8
+5,001,3
+730,3
+1,254,6 +4,889,9 -860,2
Trust CompaniesAverage
954,584,2 296,674,4 34.2
6,927,3
78,788,6
869,343,7
+87,1
+18,572,5 +7,888,0
+9,334,2
+349,6
State Banks and
Trust Co's-7(10t
In Clear. House. 958,208,4
84,679,3 14,590,7 1,060,591,3- 327,820,2 33.8
+8,415,6
+755,5 -419,0 +15,783,1 +5,377,3
+ Increase over last week. -Decrease from last Week.
a Includes bank notes. b After eliminating the item "Due from reserve depositories and other banks and trust companies in New York City," deposits amount to
1839,693,600; an increase of $9,792,400 over last week's figures.
633,0
300,0
Columbia __
425,9 5,340,0 414,0 382,0
175,2
200,0
120,8
Fidelity ___
891,0
20,8
73,3
Jefferson__ _
500,0
673,3 3,296,9
264,5
28,6 308,7
250,0
264,6 2,143,0 364,0
519,0
Mt. Morris_
30,0
200,0
317,8 3,302,7
Mutual
715,7
24,4 430,3
470,4 3,650.6
300,0
300,4
56,4 512,8
19th Ward_
100,0
398,3 3,161,0 228,0 410,0
Plaza
625,0
182,2 1,588,8 154,4
100,0
211,8
23d Ward_ _
68,8
818,9 6.055,2 1,103,6 300,0
531,2
Union Exch 750,0
393,3 3,316,4
100,0
Yorkville _
69,5 791,3
296,5
708,0 4,398,0 909.0 377,0
Coal.&I.Nat 500,0
727,0
231,9 1,576,0 127,0
200,0
New Neth'd
41,0
235,0
142,4
Bat.Pk.Nat. 200,0
937,3 185,8
31,1
39,8
Borough of
Brooklyn.
420,1 2,829,5
150,0
Broadway _
•18,5 427,5 • 425,3
775,2 5,764,0 643,7 127,4
252,0
Mfrs.' Nat_
884,5
Mechanics'_ 1,000,0
836,1 10,032,1 250.1 1,385,5 1,201,4
939,3 5,940,0 328,0 652,0 1,816,0
Nassau Nat. 750,0
300,0
575,6 4,000,0 131,0 602,0
Nat. City__
931,0
100,0
216,7 1,503,7 137,0
North Side_
84,3
494;3
Jersey City.
400,0 1,214,5 4,061,2 204,9 1,574,5 3,773,1
First Nat_ _
Hud.Co.Nat 250,0
715,7 2,294,0 148,6
32,0
391,8
200,0
Third Nat__
367,3 1,656,1
,54,6 117,7
933,1
Hoboken.
First Nat__
220,0
610,6 2,388,8 116,3
13,2 . 178,9
Second Nat, 125,0
213,1 1,884,0
,74,7
50,1
73,6
100,0 6,355,0
326,3
110,1 2,959,7
28,0 2,978,0
5,0 4,016,8
829,0 5,049,4
3,912,0
1,840,1
6,217,0
4,349,7
285,0 5,462,0
7,0 1,601,0
823,2
240,3 3,609,2
137,6 6,476,2
324,8 12,997,2
6,832,0
306,0 5,644,0
163,0 2,160,4
904,0 7,532,6
535,8 2,649,3
95,3 2,698,0
97,5 2,112,7
174,1 2,237,5
Tot. Oct. 3 7,847,0 12,939,8 88,388,6
9,227,5 17,259,6 5,444,7 109304,9
Tot. Sep. 26 7,847,0 12,869,5 88,516,7 5,957,0 8.365,0 16,256,5 5,538,7 108873,3
Tot. Sep. 19 7,847,0 12,869,5 89,858,7 5,978,9 8,226,8 17,441,1 5,580,2 111349,5
New York City, Boston and Philadelphia Banks.-Below
is a summary of the weekly totals of the Clearing-House
banks of New York City, Boston and Philadelphia. The
New York figures do not include results for non-member
banks.
We omit two ciphers in all these figures.
Banks.
Capital
and
Surplus.
Loans.
Specie.
Legate. Deposits. a Circulation.
Clearings.
New York
Sept. 5.. 287,477,1 1300.731.4 329.086,5 81.218,8 1402,641.4 54,723,4 1.617,865.11
Sept.12_ 287,465.9 1322,730,5 326,511,6 80.496,7 1420.061,9 54,493,1 1,300,280,3
Sept.19-- 287,465,9 1318.152,8 323,694,9 79.664,5 1412,563,5154.441,6 1,660,226,0
Sept.2;_ 287,465,9 1312,020,5 321,194,5 80,328,8 1405,935,0,54,116,5 1.637.474.8
Oct. 3__ 290,070,1 1312,130,7 311,896,3 79,585,7 1396,771,4,53,756,5 1,544,702,4
Boston.
Sept.12._ 41,790,0 206,883,0 23,681,0 3.295,0 258,412,0110,306,0 118,249,4
Sept.19-- 41,790,0 210.041,0 24,790,0 3,601,0 260.032,0 10,265.0 136,150,8
Sept.26 _ 41,790,0 211,967,0 25,581,0 3,927,0 254,379,0 10,177,0 120,988,7
Oct. 3__ 41,790,0 211,568,0 24,789,0 3,938,0 259,089,0,10,191,0 151,057,7
Phila.
Sept.12... 54,390,0 240,603,0
298,250,0 15,076,0 102.170,3
83.597,0 ,
83.087,0
300.950,014,077,0 112,598,8
Sept.19_. 54,390,0 241,858.0
80,992,0
Sent.26._ 54,390,0 243,150.0
297,931,0 14,637,0 108,918,4
Oet. 3._ 54,390,0 243,742,0
79,434,0
296,977.0114,086,0 121,716,3
a Including Government deposits, and for Boston and Philadelph a the item
"due V)other banks." At New York Government deposits amounted to $9,219,000
oa October 3, against $9,336,200 on September 26; at Boston to $1,615,000 on
October 3 and $1,606,000 on September 29.
anhing and
7in an Ciit14
We shall be pleased to furnish to institutions and investors copies
of our special circular describing
43 RAILROAD BONDS
Listed upon the New York Stock Exchange
Spencer Trask & Co.
NEW YORK
WILLIAM AND PINE STS..
Branch offices: Chicago. HL and Albany, N. V
MOFFAT & WHITE
Members New York Stock Exchange,.
HANOVER BANK BUIf
5 NASSAU STREET.
DEALERS IN INVESTMENT SECPRITIF.S.
Commission Orders Executed
e Cash Only
10 1908.1
THE CHRONICLE'
lianhers' •Ottettte.
Wall .Street, Friday Night, Oct. 9 1908.
The Money Market and Financial SitUation.—All the European Bourses have been more or less disturbed by .developinents in the Turkish provinces this week. As a consequence liberal sales of American securities on the London
Stock Exchange, as well as, here, have taken place,and there
was a general downward movement of prices until to-day,
when the prevailing tendency was reversed. As a result of
these 'sales, in part at least, the foreign exchange market is
somewhat firmer. The local in oney market was undisturbed,
however, and rates continue at the abnormally low level
heretofore reported. The ,foreign bank reports show only
slight and unnn portant changes.
Other than the affair first mentioned,no new influences are
feltin the local markets. The impending election continues
to be regarded as of prime..importance and until that has
passed into history,no great change in the financial or industrial situation is generally expected.
In the meantime the crops are steadily moving to market
and there is relatively more activity in the West than here in
the East.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 1%to 1 M%. To-day's rates on call were 1% @,1 y2%.
Commercial paper quoted at 4% for 60 to 90 day endorsements and.4@4Mo/o for best single names.
The Bank of England weekly statement on Thursday
.showed a decrease in bullion of £1,079,542, and the pereentage of reserve to liabilities was 50.93, against 53.15 last
week.
The rate of discount remains unchanged at 23'% as fixed
May 28. The Bank of France shows an increase of 14,950,000
francs gold and a decrease. of 550,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
,
1908.
Averages for
week ending
05.3.
Differences
from
previous week.
, 1007.
Averages for
week ending
oct. 5.
1906.
Averages for
week ending
Oct. 6.
$
$
$
$
Capital
126,350,000
129,400,000 118,150,000
Surplus
163,720,100
164,098,300 154,235,000
Loans and discounts_ _ _ 1,312,130,700
1,089,008,400 1,052,331,200
Circulation
53,756,500 Dec.
360,000
50,657,800
45,749,200
Net deposits
1,396,771,400 Dec. 9,163,600 1,036,703,300 1,031,338,700
U. S. dep. (Incl. above)
9,219,000 Dec.
117,200
32,514,900
30,479,200
Specie
311,896,300 Dec. 9,298,200 192,210,700 192,084,000
Legal tenders
79,585,700 Dec.
743,100
75,173,800
69,607,200
Iteserve held
25% of dep mita
Surplus reserve
Surplus excl. U.S.dep.
391,482,000 Dec. 10,041,300
349,192,850 Dec. 2,290,900
261,823,900
259.175,825
42,289,15B Dec. 7,750,400
i
44,593,900 Dec. 7,779,700
2,648,075
9,423,125
10,770,800
17,042,925
207,257,800
257,834,675
Arote.—The Cleating House now issues a statement weekly showing the total of
the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the preceding page.
Foreign Exchange.—The market was active and generally
strong this week, influenced by.the development of acute
political tension in the Balkans,and by free selling of securities
for European account; the tone was firm at the close.
To-day's (Friday's) nominal rates for sterling exchange
were 4 86 for sixty days and 4 87Y2 for sight. To-day's
(Friday's). actual rates for sterling exchange were 48510@,
4 8535 for long, 4 8675@4 8685 for short and 4 87@,4 8710
for cables. Commercial on banks .4 8490@4 85 and docuinents for payment 4'84 X @,4 85. Cotton for payment
4 8434 @.4 843%2, - cotton for acceptance 4 8490@4 85 and
grain for 'pap),ent 4 843
%4 85.
To-day's actual rates for Paris banker's francs were 5 185/na
@5
for long and 5 155
/
sa@5 159.'d for short. Germany
bankers'ii. arks 94.%@95 for long and 95%det953A for short.
Amsterdam bankers' guilders 40 36@40 38 for short.
. Exchange at Paris on London to-day, 25f. 11c; week's
I-'range '45f. 11c, high and 25f. 103'2c. low.
The week's range for exchange rates follows:
917
The market for railway bonds has been more active and
relatively strong. Several issues have been in request for
special reasons,and it is reported that business in this class
of investments has' been more active over the counter.
Erie cony. A. and B. issues have steadily advanced and
in sympathy with the shares,are 3'points higher. Chicago
& Alton 33'2s have been more active than usual and advanced
nearly 3 points. Rock Island col. tr. 5s are nearly 3 points
higher than last week. On the other.hand Burlington &
Quincy joint 4s have shown a tendency to weakness and
Distilling Securities Corporation 5s have lost a full point.
American Tel. & Tel. 4s' have been conspicuously active
and are fractionally lower.
United States Bonds.—No sales of Government bonds
have been reported at the Board this week. The followidg
are the daily closing quotations; for yearly range see third
page following.
,
Interest
Periods
,
Oct.
3
Oct.
5
Oct.
6
Oct.
7
Oct. 1 Oct.
8
9
2s, 1930
registered Q—Jan *103% *103% *103% *1033. *103% *103%
28, 1930
coupon Q—Jan *104 *104 *104 *104 *104 *104
3s, 1908-18
registered Q—Feb *100% *100% *100% *100% *100% *100%
3s, 1908-18
coupon Q—Feb *101 *101 *101 *101 *101 *101
3s, 1908-18____small coupon Q—Feb *100% *10034 *100% *10034 *10054 *10054
4s,1925
registered Q—Feb *121 *121 *121 *121 *121 *121
4s, 1925
coupon Q—Feb *122 *122 *122 *122 *122 *122
2s, 1936.Panama Canal coup Q—Nov *102% *102% *102% *102% *102% *102%
*This is the price bid at the morning board; 114 sale was made.
Railroad and Miscellaneous Stocits.—The recovery in
security values, which was a conspicuous feature of the market
at the close last week, coninued to force until Monday,when
the highest prices of the movement were recorded.
On that day the news from the Orient was of such a character as to cause liberal sales of American securities at
home and abroad and prices rapidly gave why under the
influence. During the remainder of the week the market
was irregular with a tendency to weakness,and closing prices
are an average of about 3 points lower than on Monday.
Northern Pacific was notably strong on rumors of an
extra dividend soon to be announced, selling on Monday
6 points higher than at the close on Friday,J but declined
sharply on official information that such diviollend was not
contemplated.
It still shows a net advance of nearly 2 points. Rock
Island preferred sold up to 50, an advance of nearly 20
points within 2 weeks, and retains a large part of the gain.
Erie has continued strong on a demand which has been
noticeable for some time past and is one of the few issues
which closed higher than last week.
Industrial stocks have fluctuated within a narrower range
than the railway list. General Electric, which is 4 points
higher than last week, Sugar Refining and Steel common
have been the strong features of this group.
For daily volume of business see page 925.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Oct. 9.
Sales I
1 for
'Week.'
Alice Mining
Amer Tele & Cable. -I
Can Pac subscrip recta_
Ceanstock Tunnel
General Chemical
Homestake Mining
Iii Cent leased lines_ _
Nat Mexico pret tr rets__:
Ontario Silver Mining_ _*
St Jos & Cr Isld let pf_..'1
2d preferred
St L de 5 F—C & E lii
new stock trust ctfs_..,
Standard Mining
United Cigar Mfrs, pref_
Range for Week.
Lowest.
I
Highest.
71 $2%
500 $2%
100 71
400 176
200 24c
10 52
130 88%
25 96%
500 50%
100 4%
100 45
100, 26
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
560
100 $2
100i 91
Oct 3, 60
Oct 81 $2
Oct 9 91
1
71
5 177%
6, 24c
652
51 89%
8, 96%
9, 50%
71 4%
9, 45
9, 26
Range since Jan. 1.
Lowest..
7 814
61 50
5,140
6; 20c
6 50 *
8, 67 .
8 90 .
9! 46
7i 2 1
9, 38
9,, 21 •
11
Oct 3,, 50
Oct
1 $1%
Oct
80
I
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Oct
Highest.
FelLN $334
Mch 71
Mch 177%
Mch 44c
Feb 65
Jan 92
Feb 96%
Aug 51%
Jan 6
May 45
May 26
Jan
Oct
Oct
Apr
May
Aug
Oct
June
May
Oct
Oct
Aug
Apr ,60
Feb $2.10 Aug
Aug
Jan, 93
Outside Market.—The dulness in "curb" securities was
this week, if anything, further accentuated. Prices for the
general run of issues were inclined to weaken', though no
material variations were reported. Some activity developed towards the close of the week in Boston Consolidated
------ —Long
Short
Cables
Copper, which declined from. 14'to 13%, closing to-day at
Sterling
etziai —
ItIgh '
4. British Columbia Copper fell from 6!
4 8510
433
,1t , to 63 re044 8535
14 8075
' ®4 8685
14 87
®4 8710'
Low
4 8470
044 8480
14 8605
@48610 14 8620
4548830
'acting then to 6% finally. Butte Coalition rose from 25 to
Paris Bankr.rs' Prow—
251/2, dropped to 243/8 and ends the' Week at the low figure.
5 18%
l-Ugh
05 17%
15 15%a
®5 15%d
Low
5 18%
045 18%
15 16%a
05 16%d
Cumberland-Ely sold up from 73
% to 7% and down to 73.
Germany Bankers,marks—
Dominion Copper advanced froin % to 1 and eased off
High
94%
095 •
95%d
695%
094%
94%
Low
1 95%
095
to 15-16. Greene Cantmea from 103
4 fell to 10 and toAnisterdnin Bankers' Guilders—
day sold down to 10. Nevada , Consolidated Copper adHigh
1 40 36
04
@4138
1 40 27 • 444029
Low
vanced from 163% to 163
44
%, dropped to 153
/i and closed today at 15 8. United Coppor common lost over a point to
Plus: a 1-16 ot 1%. d 1412 of 1%. h 3-32 of 1%.
103. and ends the week at WM, 'Sales of Orphan Copper
Plus: k 1-16 of 1%. z 1-32 of 1%. ti 3-32 of 1%. The following were the rates for domestic exchange at were reported down from 27A to 1 ;-1. Goldfield Consoli4 to''51
/
2. Nipissing lost half a
New York at the undermentioned cities to-day: Savannah, dated moved down from 53
buying, 50c. per $1,000 discount; selling, 75c. per $1,000 point to 8,.recovering to-day to .88%. Yukon Gold declined.
premium. Charleston, selling $1 per $1,000 premium. from 4 9-16 to 4, closing to-day-at 4 1-16. Among indusNew Orleans, bank 75c. per $1,000 discount; commercial trials Bay State Gas rose from 1% to 2, but dropped'to 1%,
$1 per $1,000 discount. Chicago 15 ®25c. per $1,000 dis- closing to-day at 1 11-16. Standard Oil advanced from 620
2, the final transaction for
count. St. Louis 30c. per $1,000 discount. San Francisco,' to 629, but dropped back to 6203/
the week. Chicago Subway sold up from 19 to 193
4. In
75g., per $1,000 premium.
bonds Allis-Chalmers 5s were fairly active, moving up from
State and Railroad Bonds.—Sales of State; bonds at .the 753/2 to 70i and back to 76. Tidewater .6% notes were
Board are limited to $15,000 Virginia 6s deferred trust traded in dOwn froM 993
% to'993/2,
receipts at 3634.
Outside quotations will be found on pige 925.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPY INI. TWO
STOCKS-HIGHEST AND LOWEST SALE PRICES
Saturday
Oct. 3
Mayday
Oct. 5
Tuesday
Oct. 6
I
W ednesday
Oct. 7
Tliv.rsday
Oct. 8
Friday
Oct. St
NaleS Si
me
Week
Shares
PAI:ES
Si OCKS
NEW YORK STOCK
EXCHANGE
Range Since Jan. 1 1908.
On basis of 100-share tots
Highest
Lowest
Railroads
8358 8618 873.1 32,450 A tch Topeka Fc Santa Fe 66 Feb 19
9518 9518 9513 1,230 /X Do pref
8338 Feb 17
90
494 Atlantic Coast Line RR-- 5913 Mch 2
*87
88
9678 9458 9538 33.230 DaltImore & Ohio
7612 Feb 10
A/ Do pref
90
90
*86
80 Jan 3
23,880 Brooklyn Rapid Transit.. 3714 Feb 10
4878 • 4612 49
Buffalo & Susque. pref
6934 Mch21
F7f-3E8 178
177
1'152 179
17512 ifiW2
iW8 169" ifi" 18;1385 Cianadian Pacific
190 Feb 17
*62
67
*62
67
*62
67 *62
67 *62
30 kJanada Southern
63
67 ;63
54 Mch 4
*200 205 *198 205 *198 202 1200 200 *198 200 *196 200
25 Central of New Jersey
160 Feb 11
41
4112 4238 4114 42
4114 4112 4238 4034 4112 40
8,850 Chesapeake & Ohio...._ _
41
2513 Feb 19
32
30
30
3012 31
32
31
3414 33
3512 13,500 Chicago & Alton RR
33
35
10 Feb 13
64
*60 65
6312 *60
*58
46112 64
64
101
97 Mch24
61:34 6234 *60
Do pref
7
713
7
7
7
7
*672 714 *ii12 7
318 Feb 8
Chicago Great Western..,
634 678
60 *50
60 *50
*50
3312 Mch19
60 *50
60 *50
*50
Do 9% debentures
60
60
*25
28
*25
*2.;
2712
2812 27
200
*25
1513 Feb 15
27
2813
26
Do 5% pref "A"
26
1072 1031 1012 1078 41013 1038 1038 1012 1014 1038 10
5 Feb 11
1012 2,525
Do 4% pref "B"
13633 13814 135 13838 135 13758 13534 13718 13312 13578 13212 13438 85,860 Chicago Mllw & St Paul
10312 Jan 2
*150 157 p150 157 *152 157 *153 158 *15312 156 *150 156
138 Jan 3
Do pref_
133 13314 413214 13214 *13214 133 *13114 135
1,056
13112 13112 *129 132
Do corn 1-nstallm't-ctfs 9812Jan 3
*149 150 §149 149
150 150
3,046
150 151
150 151
151 151
Do pref installm!t ctfs 12558Jan 2
160 16034 15934 16012 160 16078 15972 160
15813 160
159 15978 4,340 Chicago & North Western 13512 Jan 2
*200 220 *200 220 *200 220 *200 220 *200 220 *200 220
5185 Jan 11
Do pref
*133 136 *132 138 *133 137 *133 136 *133 138 *130 138
Chic St P Minn & Omaha 114 Feb 25
*135 165 *155 165 *155 165 *155 165 *155 165 *155 165
14012 Jan 3
Do pref
*212 3
*2
312 *2
58 Apr 3
3
032 *214 312 *2
Chic Un rac' ctfs stmpd
312 *2
*10
12 *10
*1012 12
1112
4 Apr 10
1212 1112 1112 *10
300
13 *10
Do pref ctfs stmpd_ _ _
*5218 56
4713 J'nel7
200 Cleve an Chic & St L
53
53
55 *5134 54
5534 5534 *5218 55 *51
*94
9712 *95
0712 *95
8518 Feb 19
971.
971. *95
9712 *95
Do pref
9712 *94
4014 4012 4018 41
21 Feb 19
4014 4078 4012 41
4634 3934 4034 23,425 Colorado & Southern
40
6613 6612 *66
67 *66
65
5033Jan 2
65
670
66
66
66
67
66
Do 1st preferred
5812 5814 5812 58
58
57
39
34 Feb 11)
57
1,728
58
2d
58
Do
preferred
5812 67
6712
168 16834 168 169
16734 16734 16712 16734 *16512 167 *164 167
1,107
elaware & Hudson__ _ 14113 Feb 10
510 519
511 511 *515 535 *518 535 *515 635 *520 635
300
elaware Lack & West_ 420 Jan 6
§27
27
2778 28 *27
27
510 Denver & Rio Grande- 1914 Feb 11
28
2734 2734 42734 2734 27
3914 Mch 2
*135
68 *65
6713 6718 468
67
68
650 Do pref
68
67
6718 66
3213 Apr 15
3914 40
*33
40 *3912 42 *38
42
42 *37
100 Detroit United
*38
42
6 Feb 11
*12
§I4
15 *13
15
14
70 Duluth So Shore & Atlan
*1312 15
*13
15
*13
16
1134 Feb 13
*22
24
*2212 24
25
*21
2314 *2112 23
24
522
22 *21
Do pref
12 Mch 6
2934 30
2938 3123 3014 3134 3134 3278 3053 3214 2978 3134 341,200 I.J
2933 Mch 4
4312 4373 4214 44
4314 4412 4434 4612 4414 4538 4214 4412 21,970 ErieDo 1st pref
16 Arch 6
3812 3772 3612 3634 35
33
3518 3514 3512 3518 36
37
5,800
Do 2d pref
11334 Feb 10
132 13318 131 13478 13134 13334 13218 13312 13114 13232 130 13178 71,356 Great Northern pref
4812
Jan 2
5833 5812 5814 591.2 58
5812 5733 58
4,400
_
Ore
5838 5812 5812 68
Iron
71 Alch19
W ,deb ctfA
Green Bay &properties_8 Jan 19
3 Do
14I
'YE deb ctf 13
14 -1414
20 Aich24
*3112 34
33 ;56"
38 *30
*30
38
riavana Electric
*30
*____ 8014 8014 8014
470 Jan Si
8014
---100
Do pref
62 Feb 10
10 Hocking Valley tr rects_
85
85
69 Mch19
71,g1- 1E- ;gi" 'Kr
;iii2 1E" ;E. 1E" *81
*81
84
85
Do pref
12212 Feb 17
13',3! 140
13834 13918 13734 13812 13634 13712 6,250 I Ilinols Central
13018 140
13812 140
1134 Jan 4
1013 1012 1014 1012 2,400 nterboro-Metropolltan _
1033 1038 1012 1034 1012 101* 1012 11
1718 Feb 19
3012 4,855
3173 32
3114 324 3133 3134 3112 3214 3034 3173 30
Do pref.
10 Feb 19
2314 6,270 Iowa Central.
2418 231. 2412 2312 2312 23
23
1934 2112 2113 23
2712 Feb 19
42
39
41
3912 39
4212 9253 4334 4213 4312 *4213 431, 10,845
Do pref
*60
65 *60
61
61
65
*5812 61
260
60
60
60 60
C Ft S & M. tr cts pref 57 Aug 19
28
2618 2634 1,495
28
2712 2712 2712 271. *27
28
ansas City Southern... 18 Feb 25
2812 28
46 Feb 19
6112 *60 62
61
611: *60
62
800
6133 6112 6134 6134 *60
Do pref
12 Jan 4
1713 1712 *16
18
1712 18
*15
18
*16
17
17
18
1,100
ake Erie & Western. _ _
4312 4312 *42
34 May 2
45 *40
45
*40
45 *40
*90
45
45
350 11-.4 Do pref
30 Feb 6
*38
44
*38
44
*38
44
*38
44
44
*38
*33
44
Long Island
8714 Feb 19
10534 10614 105 10614 104 10512 106 10712 10512 10634 10312 10412 4,000 Louisville Fe Nashville
*134 138 4137 137 *134 138 *134 139 *135 140 *135 140
anhattan Elevated... 120 Jan 4
33
15 Feb 29
*2412 28 *2413 28 *25
28
425
*24
25 *24
2712
28
100 1,Tx etropolltan Street1412 Jan 2
15
15
100 Mexican Central
1413 Aday 1
*1514 "iF- i1818 1514 ;Bili 1E- 41514 1514 ;This 16
20
Do Trust Co certfs_
*34
3412 35
35
3412 *34
2912 317g 3138 34
20
20
2,554 Minneapolis & St Louis- 20 Mch 2
61 Feb 29
68 *67
_ _ *67
68
65
66
965
6612 6634 6634 87 *67
Do nref
7914 Jan 2
120 122
125 12534 124 126
123 12434 12334 12334 122 123
7.065 Minn St P & S S Marie_ _ _
12312 Feb 11
148 148
*144 150 *143 150 4145 146
145 195
145 Do pref
1712 Mch 2
31
4 3013 3073 3012 3114 2934 3038 2834 2912 20,200 Mo Kansas & Texas
3112 30 I1196 Feb 19
16473 6473 6413 6478 *63 '6412 64
64
1,150
6414 6412 6.458 65
Do pre
2812 Feb 19
5414 5412 5514 5313 5414 5214 5414 11,450 Missouri Pacific
5414 5538 5414 5514 53
*105 115 *105 115 *105 115 8105 115 *105 115 *106 115
Mash Chatt 11e St Louis. 14734 Jan 2
9013 Jan 2
10413 10512 10334 10434 10434 10514 10334 10434 103 10312 7,500
Y Central & Hudson
10412 105
3852 *35
381* *35
*35
2412 Jan 3
38
*34
37
37
*35
33
*35
N Y Chic & St Louls-__
*88 100
*88 100 *38 100 *88 100
*88 100
90 Jan 19
*88 100
Do 1st pref
75 *65
74
*65
*67
*65
60 Feb 8
75
74
74
*65
74
*68
Do 2d pref
190 140
140 141 414212 14213 414213 14212 141 141
140 140
558 N Y N Haven & Hartford 12838Jan 6
4034 4112 4014 4034. 3914 9034 10,400 N Y Ontario & Western.. 2918 Feb 19
4112 4073 41
41
4114 41
73 *7212 74
7412 73
58 Feb 19
*7213 74
7212 7212 1,160 Norfolk & Western
7212 7212 73
*81
*8012
85
*81
8212
35
*81
8212
35
85
74 Arch 24
*8012 85
110
Do adjustment pref
11678 Jan 2
13733 13878 13753 14312 13914 14234 13934 14112 138 13912 13713 13912 210,285 Northern Pacific
13012 132
13034 132
103 Feb 10
131 13134 13112 13312 13134 13278 13112 132
17,713
Do subscrlp rects
*65
69
66
*64
69
69
69
*64
65 Sep 22
200 Pacific Coast Co
*64
6534 6534 66
*85 100
*85 100 *85 100
*85 100
90 May26
*85 100
*85 100
Do 1st pref
L
*72
00 *72
95
90
*65
*65 100
79 Mch27
*65 100
*65 100
Do 2d pref
10834 Jan 2
123 12338 123 12353 12312 12438 12312 12418 12258 12338 122 12314 30,540 Pennsylvania
75
75
76
*79
7612 *74
*74
76
510 Pittsb Cin Chic & St L_.._
76
59 Jan 7
*74
*74
76
94
94
*92
95 *90 9
95
900
8113 Mch 3
95 *90
95
*90
*90
Do pref
131 13334 12958 13213 130 13218 12818 13058 12634 12938 774,790
9261 Feb 17
13112 133
eading
88
8734 *87
88 *8714 8734 *87
88
*87
*87
83 *87
78 Jan 2
IA' 1st pref
88
*85
*86
*85
88
88
861* *8.512 88
*85
*85
88
76 Jan 6
2d pref
2013 2038 1958 20
1912 2033 1934 2012 19
1978 1834 1934 34.300 Rock Island Company
1012 Feb 3
4712 4978 4518 4734 4313 4838 323,795
50
4414 4612 4413 4618 45
2034 Feb 3
Do pref
55
*50
56
*50
60
500
53
54
55
52
92 J'ne29
52
52 *50
St( & San Fr, 1st pref_
2014 3013 2834 3112 8.090
29
2978 2934 3158 3014 32
2931 30
1914 Feb 19
Do 2d pref
173.1 1773 18
1712 1712
18
600 St Louts Southwestern... 10 Mch 7
1731 1734 1712 171, *1612 IS
50
4512 4512 *94
*45
50
46
700 Do pref
*4418 4458 4458 4514 *44
2412 Feb 19
10412 10573 10318 10553 10273 10433 10312 10473 10178 10378 100 10234 243,150 Southern Pacific Co
6614 Feb 17
207
11814 11814 *117 11812 11812 11812 *11712 11838 *117 11838 *117 11338
10638Jan 2
Do prof
21
2112 2133 2238 2113 2238 2014 2114 23,700 Southern v tr cfs stamped
2112 2134 2114 22
918 Jan 10
51
62
2512 Mch 5
31
7,400
5114 5312 5153 53
do
5234 *51
53
5212 53
Do pref
24
24
1,800'rexas & Pacific
1234 Feb 29
2412 2514 *2434 2514 2434 2978 2434 25
*24
25
3978
1512 Mch 23
3653 3812 3912 4058 39
38
3734 3812 12.465
bird Avenue (N Y)
3614 3914 36
812
500 Toledo Railways & Light
613 Oct 9
812 *____
8
8 *--__
*7
612 612
8
634 634
2714 2714 2714 26
2612 *24
2512 1,300 Toledo St L & Western-. 12 Feb 6
2712 27
2634 27 *25
6013
5712 5953 4.015
6113 6212 x6034 61
6112 62
5973 6034 60
43 Feb 3
Do pref
89
89
*87
89
89
*87
§89
90
7814 Feb 7
91
89
250 Twin City Rapid Transit.
*89
11012 Mch 2
16334 16578 16273 16612 163 16512 16314 16514 16031 16378 15938 16234 917,300 rnion Pacific
8712 8712 87
8712 1,265
_ __ _
87
89
7914 Apr 2
8712 4871, 8812 48814 8814 *86
Do Dref
30
30
15 Jan 24
2973 33
33
34
2,250 Unit Rys I nv't of San Fr_
3213 3314 3112 3112 3012 31
4634 96
48
95
45
45
45
2,700
46 48
50
48
2712Jan 22
49
Do pref
1234 1234 1234 1234 121g 1213 1258 1258 *1253 1273 1212 1212
634 Mch 3
900
abash
2518 2514 2,100
2612 2638 2614 2634 2534 2612 2612 2612 2534 26
13 Mch 3
Do pref
13
13 *10
*11
rm,
1 1t *10
1V-.tern
13 *10
1314 *10
12 *10
8812
9512
*86
9858
*86
4938
89
88
9512 9513
§88
88
9914 9714
*86
90
49
50
8934 8778
9518 9434
88
*87
9838 9612
90
*86
5018 4818
8914 831.
95
9518
88
88
9734 97
90 *86
4912 4814
807, 8713
1,514 9513
89*33
9712 9533
90 *86
4934 48
D
*:::: 15
H
K
r
W
Range 'or Preutous
Year (15i07)
Lowest
6638Nov
9134 Aug29
9512 Aug 31
78 Nov
96 J'ly 21
58 Nov
10173 Sep 10
7538Nov
89 Sep 11
75 Nov
5712 Aug 10
2634Nov
6434 Men 21
7912Nov
179 Oct 3 138 Nov
65 Sep 19
52 Nov
20912 Sep 10 144 Nov
46:
,8 5v21
2314 Nov
3512 Oct 9
818Noy
6234 Oct 8
48 Sep
818 Jan 3
1378Nov
6814 Aug 4
46 Dec
31 Jan ti
21 Dec
1133 Aug 3
814Dec
14738 Aug 11
9312Nov
16034 Aug 6 130 Nov
138 Aug 2b -85 Nov
153 Sep 9 111 Oct
16413 Sep 9 126 Oct
210 Aug29 185 Oct
140 Aug 7 106 Oct
165 May1.3 13712Dec
4 May18
134 Oct
1434 May13
8 Dec
62 Jan 15 98 Nov
98 Aug 12
86 Dec
41 Oct 5
17 Nov
67 Oct 2
41 Nov
5912 Sep 11
2912Nov
17,73 Sep 14 123580ct
540 May Si 36912Oct
2878 Sep 14
16 Nov
70 May IS
53 Nov
42 J'ne3U
3134Dec
1614 Apr 28
6140ct
26 Apr 24
10 Nov
_214 Nov
3278 Oct 7
4612 Oct 7
28 Nov
3778 Oct 7
20 Nov
140 Aug 13 10712Oct
69 J'ly 29
37 Oct
7712 Apr 6
75 Oct
16 Aug 40
5340ct
3413 Sep '
24120ct
8014 Oct
72 Apr
90 May,4
63 Nov
85 May14
64 Nov
196 Sep 10 116 Nov
473Oct
1313 Aug 10
3814 Aug 10
14 Nov
2413 Oct 7
012 Nov
4334 Oct 7
29 Dec
70 Jan 13
GO Oct
29 Sep 10
18 Mch
6313 Sep 10
45 Mch
11 Nov
1934 May16
45 May12
3934Nov
47 Aug 7
26 Dec
113 May19
8512N ov
13934 Sep 9 1007sOct
43 Aug 16
23 Dec
2012 Jan 28
1234N ov
1714 Aug 10
35 Oct 7
6912 May16 x(3212Dec
126 Oct 5
60 Oct
14912 Aug24 110 Oct
9
3338 Sep ,
2034Nov
6(178 Sep
53 Nov
441$ Dec
6412 May20
97 Dec
115 J'ly 23
11014 J'ly 2? x89 Dec
4173 J'ly 1.
1934001
102 Alaylk
85 Nov
75 May14
91 Oct
14513 Sep 19 12733Nov
44 Aug 11
IS Oct
7373 Sep 1
56 Oct
8212 Oct 5
70 Oct
14634 Aug 13 10012Oct
13518 Sep 41
9112Nov
9112 Jan 14
56 Nov
90 May16
65 Nov
97 Jan 13
85 Dec
12634 Aug 1 410312Nov
73 Sep 4)
51 Oct
98 Joe 4
69120ct
13733 Sep 15
70120ct
88 Sep 19
73 Oct
8812 Aug 11
67 Nov
2058 Oct 6
1114 Nov
2612Nov
50 Oct u
6134 Jan it
58 Oct
34 May14
24 Nov
1833 J'ly 3'
1 Nov
9512 Oct 7
25 Nov
63140ct
11033 Sep
12512 May13 100 Oct
2378 Sep 10
10 Nov
2012Nov
55 Sep 10
2614 Aug 2z.
47i2Nov
16 Nov
47 Aug10
9 Dec
1514 May 2
2712 Aug 11
1634 Dec
6113 Oct 5
2934 Nov
6833 Nov
921 5 May19
100 Oct
16873 Sep
7. Aug
90 Sep 1
1013Nov
34 Oct t
20 Nov
10 Oct
1414 May21 • 8 Oct
141g NOV
2038 Aug .5
n r.)14:
II Uthest
10314 Jan
lops Jan
1334 Jan
122 Jan
9412 Jan
8358 Jan
8534 Feb
19512 Jan .
6512 Jan •
220 Jan
56 Jan
2713 Jan
6.9 Jan
18 Jan
79 Feb
713, Feb
2618 Jan
15713 Jan
16512 Jan
141 Jan
149 Jan
205 Jan
234 Jan
170 Jan
165 Jan
334 May
17 J'IY
0278 Jan
10812 Jan
3878 Jan
6912 Jan
5812 Jan
2271. Jan
510 - Jan
4278 Jan
8375 Jan
8018 Jan
1912 Jan
39 Jan
4414 Jan
7578 Jan
67 Jan
18934 Jan
85 Jan
75 Oct
141, Jan
47 - Jan
8612 Jan
114 Man
94 Jan
172 Jan
39 Jan
7514 Jan
2873 Jan
bl Jan
130 Jan
3034 Jan
6134 Jan
281, Jan
671; Apr
671i Jan
14518 Jan
196 Feb.
107 Jan
2753 Jan
_ Tan
90 Jan
.14014 Jan
168 Jan
9458 NIch
7234 Jan
9234 Jan
147 Jan
13434 Jan
6312 Jan
110 Jan
9134 Jan
189 Jan
4838 Jan
9214 Jan
9012 Jan
18912 Jan
134 Feb.
12418 Jan
76 Nov
125 Mcb
14138 Jan
78 Jan
10512 .lan
139'8 Jan
02 Jan
94 Jan
3018 Jan
6412 Jan
70 Jan
9838 Jan
2513 Jan
6212 Feb
9614 Jan
11812 Jan
34 Jan
9412 Jan
3718 Jan
123 Jan
29 Jan
3334 Jan
5478 Apr
10812 Jan
183 Jan
913 May
62 Jan
711, Jan
1812 Jan
381,Jan
,to1:: Jan
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS
Ask
Bid
Bid
Banks
Bid
Ask
Ask
Banks
Banks
Hanover __ 475 985
qetropornill
New York
_ Fidelity 11... 165 175 imp & Trad 1540
_ _ 'sit morrisli_
ChziseaEx ¶ 200
Aetna
-46 '
6 Ifth Aven - 3300
175
-L.
185 Chemical __ 410
185- Mutual %.- _
-___ Irving N Es 175
Fifth
America 11 . 525 535 Citizens' Ctl 150
155
300 350
170
Jefferson II
131
Nassau 11First
Amer Exch.. 230 135 :lay
700
t317
___ Liberty---- 500
__. New Amst _
54th St ¶
Battery Pk- Iti
225
_ 1-75 Lincoln -,. 485
125 'Joni & Iron 215
--- New Neth'd
Manhattan,' 2)0 340
Bowery n -- 320 335 Colonial I_ . 700
- - Fourth
200 205
NewYorkCo
320 335
Mark't&Fui 129314
Bronx130f011 30°
Vew York _
---- Columbia 11.. 905) 5-0-0 Gallatin
____ Garfield _- 285
Bryant Pk l' 150
-. Commerc^ .1100
._ .1cchanics'_ 245 2-5-5 ''ht &Dayn
130 'iurrn Am
12 4 '0th Ward I
133
Butch & Dr 155) - 1-5-5 Cunsol't'd__ 120
1-4-5
1 ercantlie _ 129
__ ',:crrn'n Ex 475
500
ii'.,
185 Jopper _=__ 220
170
Century 11
-ferch Exch 165
\:irthern __
:,10
- _ Corn Ex II__ 318 32-5 Germania Il 500
t.,5
_
Merchants'. 161
Chase
)rientall
135 greenwiph 11 2'0 2-'1 .- 1-tronnnq. 375
__ ..
'
,00 3-05- Ei.31 River_ 125
Chatham
4 Bid and asked prices: no sales were made on this day. I Ex-rights. 4 Less than 100 shares. %State banks. a Ex
t Sale at Stock Exchange or at auction this week. h First installment paid
n Sold at private sale at this price.
Banks
Lila
Ask
Banks
Bid
16212
200
285
200
2-00
500
300
_
--..-.
1-55-
'ilk
1671:
_..
3.0
--- --210
310
260
500
--.
---.
Mil
Rank s
Pacific 11_ 230
430
Park
People's II.. •=95
1'155
Phenix
Maza If- .,. 010
Oro(' Exc-h-11 155
135
Sherman
Seaboard - 390
350
Second
itatc ¶1.... 225
12th Ward
130 Ward , h1-0-0-
Ask
250
935
305
(3i5
........
350
16(1
----dividend and rights. 0 New stock.
00T. 16
s1oCKs-111GHES7' AND LOWEST SALE PRICES
Ectsz,•C•ty
ocr. 3
*8
812
1878 1078
912 913
23
23
4712 4812
919
14OW York Stook Record-Concluded-Take 2
1908.
lloaday .
Oct. 5
Tuesday
oa. 6
0
*3
16
16
034 934
23
2818
4712 4834
814
16
*812
27
47
Wednesday
Oa. 7
Thursday
Oct. 8
Friday
Oct. 9
Sates a,
he
Week
STOCKS
NEW YORK STOCK
• EXCHANGE
Range Suu4 Jan. 1 1908
On basis ol 100-share las
Lowest
Highest
9
*8
*8
812
9
814 *8
16
*1512 1612 *16
17 *1512 17
*9
913
10
*813 913
9
0
27
26
2714 2714 2614 2614 26
4614 4534 4534
48
4734 4734 46
300 Wheeling & Lake Erie___
413 Mch 7 1058 J'Iy30
300
j218 Apr 16 2134 Aug 1
Do 1st pre
400
Do 211 pret
6 Feb 27 1314 May22
1,000 Wisconsin Central
1312 Feb 28 2912 Sep 10
2.800
Do pret.
33 Feb 19 5112 Sep 19
I ndustrial&Miscellaneous
*181_ *181
*181
_
_ *181
*181
__ *181
A dams Express
184 Jan 2 4200 Aug 25
8 1118 11-18 *11
1118 -1,500 11d01s-Chatmers
8 1034 -1074 1012 103-4 1078 1/31034 1035 Lich 6 12 J'ly 22
3218 3312 3313 3558 3414 3478 3418 3414 34 • 3434 9.420
3238 34
Do pret
19 Mch 6 5638 Aug IS
7438 102,105 Amalgamated Copper_
7478 7618 7378 7514 72
7678 7458 76
75
7512 7638
4518 Feb 19 8333 Aug 8
27
27
2812
27
*2712
27
2814 283
2712 2778
1,700 Amer Agricultural Chem_
2858 29
13 Jan 4 2913 Sep 15
92 *90
92 *90
92 *00
9112 *90
92 *90
*89
Do pret
9134
7813 Jan 4 9534 Sep 9
19
1913 19
19
1912 19
2.100 American Beet Sugar
1833 1334 1812 1831 *1712 19
912 Feb 10 2478 Apr 3
*_
82 *_ __ SO *_ _ _ _ 80 *____ 80 *-- 80 *___ 80
Do pret
65 Jan 23 78 Apr 23
633 612 *614 612
612 634
614 614 3,3100 American Can
6313 65
633 613
4 Feb 20
678 Aug ,1
60
6534 65
6518 6578 6538 6612 65
6558 7.700
6438 6614 65
Do pret
44 Jan 4 6613 Oct 2
40
3934 40 *3912 3978 3914 4012 7,000 American Car & Foundry 2513 Feb 13 4214 Aug 7
3034 4018 40
3934 40
102 102 *10012 10212 10212 10212
400
10278 10278 *102 103 *102 103
Do pref
8414 Mat 4 105 Sep 8
3514 3458 3514 43434 3434 3458 35
3538 3534 3518 3538 35
2,470 American Cotton 011
2434 Feb 19 3633 Aug 26
9212 *91
9212 *90
91
*90
6212 491
*91
9213 9212 0213
110
Do pret
480 Jan 16 1/212 Oct 9
*192 210 *192 210 *192 210 *192 205 *192 202 *192 202
American Express
7171) Feb 26 4224 mayl I
8
8
734 814
*734 812 1.510 AmeHean Grass Twine
734 '734
*712 8
*734 8
912 Apr 14
378 Jan 8
*412 5
*412 5
*412 5
*412 5
*412 5
American Hide iSc Leather
*412 5
5 Sep 2..
234 Feb 26
*24
25 *23
25 *23
25
24
24
500
2318 2318 2318 231g
Do pret
1213 Mal 4 2514 Sep 25
2618 2618 26
2618 255 2578 2512 258 2512 2534 2533 2578 2,510 American Ice Securities
1212 Feb 8 31% Aug it
12 *1013 12 *10
*1013 111;. *10
*9
1012
1112 10
100 American Linseed
10
6 Mch 5 1312 Aug 6
*2112 25 *2113 25 *2112 25
24
*22
*22
24
*2112 25
Do pre
17 Mch 5 2613 May14
4634 4678 4614 47
46
4838
4612
4612 47
9.830
4618
4678 47
3138 Feb 25 598 Aug 13
American Locomotive- _
104 104 *103 106
*10258 104
450
10412 10412 *105 1061. 105 105
Do pret
8512 Jan 3 109 Aug 4
c34 8
*734 8
*773 8
8
734 778
8
778 78
900 American Malt Corp
858 Sep 16
3 Mch 2
48
48
4812 4812 43
4812
900
4312 *4812 50
21 Jan 13 5118 Sep 11
4612 4812 48
Do pref
81 . 81
81
*8012 8112 *8014 8114 8014 8014 *7134 81
*80
600 Amer Smelters Sec pref 13 70 Jan 17 8418 Aug 7
86
8914 804 8914 6534 8778 8612 8833 848 8678 8312 8558 165,830 AmerSmelting & Refining 5512 Feb 17 107 Aug i
105 10514 104 10434 104 104
105 1031,8 3,500
10434 105
Do pret
10418 105
8734 Feb 20 11038 Aug 5
*180 200 '480 200 *180 200 *180 200
100 American Snuff
19014 19014 *190 200
180 Aug24 200 Apr 30
*92
9713 *92
9712 *92
Do pref
97
*92
97/
1
4 *9312 9713
9713 *93
80 McD23 9713 Sep 1/
*29
30
30
2973 2978 30
200 Amer Steel Found (new)_ 28 Sep 29 3714 Aug ii
30 *29
30 *29
30 *29
*____ 45 *___ 45 *_,. 45
200
45 *____ 45
Do old pref tr rects_2738 Feb 15 4213 Oct 7
4212 4212 *39
13034 131
2,650 American Sugar Relining
131 1317 13178 132
132 13214 131 13134 131 131
- 9834 Jan 2 13734 Aug31
*124 127 *124 127 *125 130 *125 130 4129 129 *126 130
250
Do pret
105 Feb 18 129 Aug 6
13,100 American Teleph & Teleg 101 Jan 6 13134 Sep 3
12734 128% 12734 1281. 12738 12814 12712 12733 12634 12758 12614 127
*0312 9334 9312 0334 *93
500 American Tobac(new), pf 7212 Jan 2 9712 J.1Y 11
9312 93 03
9312 *93
9334 *03
*22
24
24
1,250 American Woolen
23 *22
2358 235s 2314 2333 2314 2333 22
1513 Feb 17 2634 Aug 12
Do pref
200
9112 9112 9134
*00
91
*90
92 *90
92 *90
02
92
7314 Feb 19 94 Aug 4
4418 4434 4312 4412 4312 44
4335 4378 4318 4313 4112 4238 20,100 dAnacondaCopper Par$25 $2713 Feb 19 $5012 Aug )
33
38 4,700 allatopliasAllning Par $20 3212 Jan 23 35 Mc1126
3
318
314 38
3%
234 33
338 353
3
700 Vethlehem Steel
2212 2212
2234 23
2212 2212 2214 2238 . 2234 2234 *2213 23
12 Jan 13 2434 Aug 7
100 ifi do pref
*45
4612 4612
*4612 50 *4612 50
50 *45
60 *4612 50
35 Apr 8 55 Aug 7
100 Brooklyn Union
140 140 *139 144 *139 144 *139 144 *133 194
*13912 144
_ x8.5 Feb 21 146 Sep 15
Brunswick Dock&C
1258 *1113 1158
1258 s_
1248 *..
_
*111. 1258 __
6 Jan 3 1318 Sep (
Gas__Imp
128 *11
100 Butterick Co
410 Feb 7 125 Jan lb
*18
20 *18
1934 1835188, *NE, 1934 *1813 1934 *1833 1934
2434 2434 1.400 f'entral Leather
*2412 25
25
1513 Feb 10 3032 Aug II
251 25334 2513 2518 2434 2478 25
425 k-, Do p_ref
49434 0434
00
96 *95
7534 Jan 2 99 Sep 4
98
96
96
96
96
96
*95
27,150 Colorado Fuel & Iron__
:3514 3578 3412 353./ 3412 3518 35
3618 348 3614 3334 35
1533 Feb 11 37 Sep b.
20
1,120 Col /5c Hock Coal & Iron:: 1434 Eich 6 24 May10
20% *19
19
21
*19
21
20
21
20
421
*19
96 Jan 3 16412 Sep II
14714 14834 146 14838 14453 14714 14512 14612 1435 14512 143 140., 38,120 Consolidated Gas (N Y')
18
13
18
nos *1713 18
18
800 Corn Products Refining_
173.1 1818 1713 1713
13
1034 Feb 10 21/13 Aug 1
7413 74
Do pref
610
*7313 7512 *73
74
7614
50 Jan 2 80 Aug u
7413 741. 7413 741. *73
2912 2958 2912 2912 2,800 Distillers' Securities Corp 2714 Feb 19 1813 Aug 5
2912 30
- 30% 3078 2913 30
3058 3034
-__ *80
___ *30
___ *76
95 *70
Federal Mining tk timelt'g 7512 J'ly 15 94 Aug 10
*76
95
*75
*73 -85 *78 -85 *79 -85 *70 -85
85
Do pret
85 *78
*77
59 Feu 10 8834 Aug 7
Federal Sugar Ref of N y 55 rly 28 6812 J ne2e
Do pref.
45- 15 - *93 95'*9212 95 *9213 95 *0212 95 *9213 95
7312Feb 3 100 J.1Y ,
13912 13912 141 141
140 14013 190 142
13912 142
1,000 General Electric
*133 140
111 Jan 2 14813 J'ly 23
*100 110 4102 102 *100 110 *100 110 *100 110 *100 110
15 Granby Cons M S & P
7834 Jan 2 10913 J'ly 31,
5512*
*65
5514 *5414 5514 5514 5514 *5413 5512
6512 *
100 I nt Harvester MS tr cus 62 J'ne 11 5912 J'ly tu
104 104
10314 10314 4.
02:
,14 10312 i(7/578 104
99 J'neli 106 Aug 3
10313
10334
*103% 10312 moo
Do pref silt tr etts.
4013 712 46,2 74 4,04 714 *612 71. *6
7
*6
9 May II
nt Mer Marine stk tr cif;
7
7 Mch 11
*20
*20
21
21
*20
2012 *1812 201; *1313 20 *1813 20
Do pref
16 Feb 25 2334 May 7
918 94
914 038 *9
912
958 10
1.340 International Paper
1214 Jan lb
8 Apr 1
912 978
914 91.
51712 52
2151
5213 *50
52
450
50 *50
53
5058 513'4 1,550
Do pret
47 Oct 1 65 Jan It
2534 2612 26
2713 26
27
2712 2818 2:,34 275 29,200 internat Steam Pump
2612 28
13 Jan 2 2818 Oct 8
7978 8113 8112 821: 8134 8134 8112 8112 8112 8178 *30
82
65 Jan 10 3313 Sep '.
Do pret
3,690
*63
8913 6834 633, 469
69
52 Feb 25 7014 Aug i
6314 6814 68
*6312 69
68
450 Mackay Companies
*6712 6813 6633 633, *63
Do pret
400
69
69
69
b978 Feb 26 7013 Sep 14
6812 6812 6813 6813
*8714 8014 48813 88. 87
325 Mattonal Biscuit
8714 *8718 8813 8712 8713 *8712 8813
68 Jan 3 92 Aug 1.
117 117 - *116 11812 *11612 11814 11613 11612 *116 118
*116 117
Do pret
250 LI
102 Jan 2 120 J'ly 22
*914 10
*914 10
300 Nat Enamel'g & Stara/Az
012 912
*934 1013 *912 1014
934 10
713 Feb 14 1218 Aug 13
Do pref
*70
*76
79
79
79
*76
*76
79
*76
*76
79
79
570 Feb 25 480 Jan lb
8214 43,600 National Lead
83
8358 8513 8213 843.. 8214 8312 83
79
82
841
36 Feb 10 92 Aug 7
Do pre
431
*102 10212 *102 10212 10238 10212 510234 10234 410234 1023.1 10278 103
8712 Jan 6 105 Aug 4
5
5'8 514
514 2,900 Newhouse M & S_Par $10 15 J'ne27 $973 Jan 211
5,8
5
514 814
514 51
514 535
310 New York Air Brake
*70
75
75
75 *70
7013 7013
71
475
50 Jan 2 3314 Aug31
72 *71
75
760 North American Co, new
*6112 64
*62
64
6333 6338 *62
*6212 04
64
637 64
42% Mch 5 6634 J'ly 23
600 Pacific Mall
2513 2614 2514 2538 2512 *25
2612 *2413 2534 2434 2434
26
24 Apr 20 3312 Mcu24
1,700 1- eogle's (.1 L & C (Chic) 30 Jan 2 9734 Aug 11
9512 95
95
9514 *95
*9413 95
95
*9413 9512 9453 95
Pitts urgh Coal Co
512 Alch17
12
12
*1012 12 *1013 1112 *1012 12
*11)
*10
12
*11
1435 Alay19
Do pret
*39
42
43
42
43 *39
*40
43 *40
43 *40
*40
3612 Feb 14 46 Aug 10
3213 3212 *3213 33 *3212 33
333k 3,130 Pressed Steel Car.
3312 3312 33
3312 32
1714 Feb 10 3613 Align
94
*02
*93
94
Do pret
592
94
*92
135
49312 9312
94
9334 494
69 Jan 3 x9714 Aug t
*162 163 *161 163 *161 183
163 16334 163 163
800 Pullman Company
103 163
147 Jan 3 16812 J'1y 29
38
*37
33
3813 3634 3634 37
39
1,400 I.? allway Steel Spring
39
3812 39
38
2334 Feb 3 4635 Aug 6
*90
93
97
09 *90
98
*90
98
*95
*95
09
99
200 a t, Do pref
75 Jan 29 10018 Sep ..,
2214 2212 2214 " 2214 21
22
2213 2212 2214 2214 22
2113 1,700 Republic Iron & Steel
1434 Feb 11 2538 Augn
791 *73
79
7918 79
79
63 J'nel9 8213 Aug 10
80
80
73
79
79
79
Do pret
1,750
6012 6013 6112 6213 6213 63
6014 601
611.
61
36 Jan 2 6514 Aug31
6134 6214 2,365 (.,:loss-Shettleld Steel&lrn
*9814 1021, 10214 10214 *100 102 *100 10314
. *99 102 *93 102
8712 Jan 1 103 Sep . •
100 `,") Do pref
413.: 4034 411
4033 4033 4033 4034 40
90
4113 90
4114 16.300 1TennesseeCop_per Par$26 $2512 Feb 17 34234 Mc1330
73
73 *60
73
73 *60
I exas Pacific Land Trust 45 Feb 11 7213 Aug 25
*69
73 *69
73
*69
*69
9 Aug :.1
1 Jnlon Bag & Paper
4 Feb21
100 I
Do pref
4433 Jan 6 64 Auglb
ii li
24
725 u S Cast I Pipe & Foundr
243.4 1434 24
- ___ .141 2333 -24
-241-2 15
1712 Feb 26 29 May is
7112 7113
72
7134 7134 7112 7113 7112 72
700
Do pref
*7131 73 *70
5658 Jan 2 7878 Aug 10
90
*75
90
00 *75
90 *
United States Express- 70 Feb 18 90 Jan 6
90 *75
90 *75
*75
-------52 6278 *50
54
300 II S Realty & Improvena't 3614 Feb 5 f,278 Oct 7
*5113 5213
61
61
51
*48
*8
12
10
11
100 U S Reduction & Relining
10
*8
*7
*9
10
10
10
*9
4 Feb 21 1514 Aug 8
28
*24
100
*24
28
23
*24
27
Do prel
24
24
*24
28 *24
16 Feb 10 89 Aug 3
30
32
32 *31
3034 3034 1,900 United States Rubber
31
32 *31
3113 3113 31
1734 Feb 10 3712 Aug 7
843
101 101
*100 101
Do' 1st prof
10113 10112 *10013 10112 101 101
101 101
7t Feb 19 10234 Aug 7
71
*65
68
6812 68
245
Do 2d pret
63
69 *65
63 *65
63
563
42 Feb 21 74 Aug 7
4534 401
4613 375,350 United States Steel
45
46
45
4558 4558 47
2534 Jan 2 481 Sep 8
4535 4633 45
100 10
32,209
Do pref
10813 1094 10812 109
1091 11018 10812 10934 10734 109
8713 Jan 2 11212 Aug31
4112 421
41
ill
4012 417k 4012 41
9,700 !Utah Copper_Par $10 ao Jan 2 $4612 Aug1,.
4012 41
4118 42
33
3314 33
10.400 VItglnia-Carolina Chem
33
32
3214 3214 31
33
34
3418 :43
16 Feb 27 3413 Oct 6
*109 10934 107 1091 *107 10913 *107 109 *106 108
500
109 110
Do pref
z8/ Jan 2 110 Aug b
*57
59
*57
50
*56
(rIreinia Iron Coal dc Coke 43 Jan 7 1.512 Aug 8
69
*57
.59
59 *57
*57
59
*275 300
300 300 *300
*300
_ _ _ *300 ____ *293
_ells Fargo & Co _
165
4250 Feb 13 300 Oct 5
60
6013 61
61
59 -5958 59 -59
1,300 a estern Union Teleg
_--- --- *58 -60
41 Feb 19 62 Sep 10
7412 75 *74
75
*7214 75
72
2,670 ‘k estIngifseEl &Mfg assen
73
7214 7214 *72 -75
38 Mch 11 8914 J'ly 22
*00
05
*90 100 *on Inn
*OA
inn
*on 100
*fin inn
Tin lg.! ere!
IS Meh24 93 J'Iv 22
Range lor Previous
Year (1907)
Latest
Highest
6 Oct
13 Oct
1634 Jan
3734 Jan
2134 Jan
2573 Jan
512 Jan
8 Oct
11 Nov
28 Oct
5150 Aug 1330 J'ne
• Aug
16% Jan
14 Nov
4334 Jan
24134Oct
12178 Jan .
10 Oct
2533 Jan
96 Feb
76 Oct
23" Jan
734Nov
- Jan
75 Mch
3 Oct
712 APT
6012 Apr
34 Nov
454 Jan
24380ct
103 Jan
18 Oct
3612 J'ly
21 Nov
go Jan
70 Nov
247 Jan
175 Oct
814 Jan
3 Oct
614 Jan
212Nov
10 Oct
3012 Jan
8,8 Jan .
8180ct
1914 Jan •
6380ct
16120ct
36 Jan
3214 Nov
7534 Fob
ini2 Jan
83 Oct
213.1'ne
4712 Apr
17 Nov
40 Feb
9313 Jan
60 Oct
5814N ov 2133 Jan
31340ct
11733 Jan
203 Jan •
150 Oct
570 Nov
102 J.110
c/5-e11013 Nov
88 Oct
60 Oct
11 Oct
68 Nov
$25180ct
03 Oct
Nov
23 Nov
al Nov
6 Out
27 Oct
1178Nov
68 Nov
14 Nov
14 Dec
74 Oct
8 Oct
46 Oct
25 Dec
50 Oct
47 Oct
42 Feb
76 Feb
4491.0ct
liu. Oct
1871k Feb
131 Jan
133Jan
9834 Jan
3612 Jan
10273 Jan •
30234 Feb
3813 May
2012 Jan
65 Jan
125 May
1412 Jan
ana Jan •
40 Feb
102 Feb
6772 Jan
28% Apr
14014 ,
Itch
2434.an
88 Jan
78 Feb
163 Jan
97 Jan
(7212 J'ne
100 May
163
an
152 Feb
81 J
24 Apr
10 Nov
712Nov
1313 Jan
81 Feb
51 Nov
8 Oct
41 Jan
81 Jan
60 Oct
7314 Jan
40 Oct
50 Oct
71 J...an
8614 Jan
58120ct
90 Nov 117311 ALCA
1333 Jan
813Nov
87 Feb
475 Sep
7614 Jan
33 Nov
80 Oct
103 Jan
$5 Dec $2034 "-Fr
4712Dec
14112 Jan
8324 Jan
37 Nov
19 Nov
4112 Jan
93% Jan
70140ct
Ibis Jan
7 Nov
6062 Jan
37 Nov
57 Jan
1558Nov
9973 Jan
64 Nov
13514Nov 18113 Jan
21120ct
6712 Jan
9912 Feb
72 Nov
12 Oct
41 Jan
50120ct
100 Jan
7734 Jan
26 Oct
80 Oct 4107 Jan
$5312 Mch
$17 Oct
86 Jan
42 Dec
513 Jan
4 Oct
61 Jan
3934Nov
4912 Jan
17 Oct
89 Jan
49 Nov
70 Nov 4117 Jan
14012 Jan
36 Nov
3014 Jan
612Nov
68 Jan
1814Dec
1312Nov
5212 Feb
10978 Jan
62 Oct
7812 Jan
39 Nov
21780ct
50% Jan
7918Nov 10734 Jan
$3913 Alch
$13 Oct
3938 Jan
1238Nov
75 Nov 108 Jan
97 Jan
31 Oct
260 May 300 J'ne
85 Jan
54 Dec
32 Nov 154 Jan
60 Dee 4160 May
BANKS AN D TRUST COMPANIES-BANKkAS' QUOTATIONS
Banks
Bid
Ask
Banks
Bid
Ask
Trust Co', Bid Ask lrust Co's 814 Ask 1 rust Co's Bid Ask
Ask
trust Co's Bid
Brooklyn
New York
N Y CUy
Fifth Av Tr
__ 4.0
Brook.yn
Mut All'net ____ 170
---. Manufac'rs' 420
Union Exe I 175
960
_, . Bankers' Ts 4-10
Fulton -___ 2-4-0
____ Brooklyn Tr 390
__ NY Life&Ti 1025
400
-_ dechanics'11
Wash li't 11 230
. .150 ilowl'g Gen 325 340 Guar'ty Tr_ 45) 475 N Y Trust_ 505
____ Citizens' _ 115
125
West Skit: 11 500 , _ Montauk _ il; 145
11'way Tr__ 130
135 Guardian Tr 185
___ Standard Tr 325
__. Flatbush __, 240
260
Yorkville 5 400 42-5- Nassau ____ 24') 270 Carnegie __ 1165
____ Hudson .... 125
- Franklin _ 200 /35 TItleGu& Ti 1•41•0
Nat
City...,
23.1
_
_
320 Central Tr_ 1700
Knickerblkr __ _ 300 Tr Co of Ani 290 3-00 damilton _ :60
Brooklyn
2/5
13' North Side', 3130
110
Borough li
Columbia _ 121618 121614 Law T I &Tr 197-12 2021, Union Trust 11100 1073
dome
100
110
_ Commercial 143
---- 1
- 45 People's-, 150
Brooklyn I_
135
US Mtg &Tr 325
Lincoln Tr_ ,..- 190
350
Kings Co
455
435
prosp'etPk5
53
150
1
6
375
0
Com'wealth ____ 85
Broadway 1,
Unit States_ 1080 1110
Manhattan- 350 400
Lafayette_ _,
_ _ 125
Terminal 5_
_ 130
275
250
First
Empire ___ 35.)
VanN'd'nTr 260
--__ Mercantile _ 750
803
270 f„ 1st L & Tri 2-60- 270
Li))
Trust Co's
HIllsidell..,... 110
375
Eqult ble Tr 360
____ Washington 400
170
Metroportn 505
--- Nassau _ _ _ 155
N Y GUI!GUI!Farm Lo&T 1125
Home Bk 11_ 110
125
-- Morton Tr.. 420
___ Westchester 135
145 People's
280
_ 270
Astor
1"6
101
pomestead
290
____ Mutual ____ 95
310
Fidelity .... 200
Windsor __ 130
105
W Ulla msbg
140
100 '
80
_'
4 Bid and asked prices: no sales on tills day. § Less than 100 snares.
Ex- ights. b New stwIc. c Ex-div. and rights. 4 Now iir3ted dollars per share. •
auctlo
1
this
at
Exchange
or
certificates.
I Sale at Stock
11 Banks marked with a paragraph (5) are State banks.
week. S Trust Cu.
New York Stock Exchange—Bond Record, Friday, Weekly and Yearly
OCCUPYING POUR
1)s
N. Y. STOCK EXCHA NGE
WERE Erimsn OCTOBER 9
ts°
Price
Friday
Oct 9
Week's
Range or
Last Sale
13 -6
Range
Since
January 1
PAGES
BONDS
N. Y. STOCK EXCHANGE
WEEK ENDING OCTOBER 9
—a
;.
4at
Price
.Friday
Oct 11
Range
Since
4 January 1
eeic's
Range or
Last Hale
But
:Ask Low
H toh No
dna
A 10c how
Bird+
tow Built
Cent of Ga R It—(Con)
1031
/
2104 104 Sep '08
10:312 104 1,
2d p et inc, me if bs stamped
53
5212 Ang'68
45
44
104
104 •I'ly'08
04 1044.
a
Sit prer titconte it Sn
91
9ct
39 Sop '98
1004 10034 101 18Sep '08
100 101 78
99% A lig'W+
income
ad
prof
/
2
g
Is
stamped.
401
27
101 101', 10054 Aug'08
WO', 102
Chatt Div pur mon g 48.1931 J.I, 88
8938 Fob'',
8958 89%
107 J'nele/
Q.I'
Mao & Nor Div 1st y 58.19411 -J 104
8
1047
3'ne'08
WW2
104%
/
2
Q.F 1001
1011
/
2 Feb.08
101 lq 101',
Slid (4a & Atl Div 5s....1947 J -J 1001
115 Nov'05
/
2
Q.F 121 121 /
1
2 121 Sep 't18
100.2122'4
Mobile Div 1st g bs
105 Dee'07
1946 J -J 107
Q.F 122
1221
/
2sep '118
120% 123/
1
2 fen RR & B of Oa col c 5s1937 C.N
16'-,Sep'
142 1061
/
2
,,e•
/
4 1034 Mar'08
Q N 10258 1031
10341034, .;ent of N J gong gold 59.1987
1254 Sale 123
1234
117 1254
Registered
120%122
121 Aug'08
41987
Foreign Government
Am Dock cf. Imp gu 58..1921 7-3 I10%1104 1011', Sep '98
107 10934
Imperial Japanese Governm't
.
Le & Hutt It gen gn g 58 1910 J J 101.1
Sterling ioan 4 Lis
1925 F-A ; 874 883
, 89
901
/
4 8 R5
911
/
4
Lela & Wilke B Coal 53..1912 M-N 101
Apr'08
9s
98
98
a
1
211 series 4/
871
/
2
11125
Sale 871
4 8378 1)05,
1
2
/
2 8834
J
Con ext guar 41
100% 11/0
/
28.-4/1910 Q-M 100%
9818100',
Sterling loan 48
1931 J-J 1 80
81
8078 29 75
80
81
96
N Y& Long Br gen g 4s 1941 M-S
Itepub ol Cuba 58 exten debt.. SI- 1103 Sale 103
103
3 10014 11/54 Cent Pacific See So Pacific Co
9858
U S of Mexico s f g 58 of 15911 Q-J
98138
9838
5 96 101
CentVermont 1st gu 94s.e1920 Q-F
es May'07
Gold 9s of 1904
1954 J-0 94% 95
94%. 94%
1 90', 941
/
2 Chas & say See MI Coast Line
17 twee are pr ices on the arts of $5 to B. Claes & Ohio gold 65
a1911 5.0 101
105 Sep '06
102 105%
State and Cit7 Securities
1939 VI-N 115'-, Salt 115
115', 31 1071
1st consol g 58
/
2116
Alauarna curt-hind 4s
1920 J -J
98
111 Mar'02
19311 Vt-N
Registered
10118 Dec'07
......
Dist of Columbia 3-655...J924 F- A 110
11712J'ne'Ot
/
2111i% 101.
1992 M-8 1011
,General
96
gold
1
102%
29
4',s
101%
Louisiana,new, C01180146 1911 J -J
97
1051
/
2Dec'04
*
ublb 104 31a)*'09
Registered
New York City—
90
J-D 89
90
Blit Sandy 1st 4s
90
1 894 00
1957 51-N 1 ll Sale 111
New 4 1•213.
111 14 27( 10558 11134
108
112 Feb'00
Craig Valley 1st g Ss..194)I
11 1/ .
1
28
New 4/
1817 M-14 1044 Sale 1044 10414
,
l01 4 1045
97 100
90 Auleot,
& A Div 1st con g 43-1989 ..j
41.2% Cotporate Stock _1957 M-N 111 Sale Ill
111 14 10: 105 1114
28 consol g 48
1989 J -J
0312.'
1 13"08
/
2
931
89
0a 7
4/
1
204, assessmt bon
1041
/
2 Sale 1041
1043
4
14 102 104-,
/
2
113% e'eu'05
g581941 51-S 100
Warm
Spr
Val
1st
......
4% Corporate Stock
,Sale l0158 10
1957 M-N 1015
103 101% 10178
95 Sep '06
Greenbrier Ry 1st gn g 18'40 N1-14
95
95
New York State—a
761
761
/
2
/
2
Clime & Alt RR ref g 38 1941/ A-0
Oct'68
67% 78
Improveru't 48 ...........J58
110 Aug'08
74% Salt, 71%
109 110
74', iiS 60
Railway.lat lien 31
/
2
/
2s 1950 J -J
741
North Carotins consol.
48 11119
1004 Apr'07
99
8015 Stsv'06
J
J -J
Registered
..
68
1919 4•0 114
126 Mar'07
59
1 F -A
Ohio Burl& Q—Denv D 45 1112
/
2Oct'08
9918100', 1001
97
1001/2
So Carolina 41
/
2s 20.40
1933 J
120 Mar'th.'
9944 Salt
119",
1958 M-S
General 4s
9 7197 100%
Tenn new-eettlement 38 1913 J • J
941
95 J'ly'06
/
2
94
96
906 91
911
/
4
1949 J -J
Illinois Div 3/
1
2s
86
1111
/
2
Virginia fund dent 2.38.-1991 J • J
921
93 Sop '08
93
90
8634 J'ne't,8 .•
J -J
l{emstered
86% 8634 68 deferred Brown Bros cUs.
/
2 3612 15 221
361
/
4 361
/
2 43
/
2 04 971
1021
102
Ms Div 48
1949 j.j 102
/
210212
104%
Sale
104%
4
1045
A-0
Iowa Div sink fund 58 1919
104% 106
Atailroar:
9978
997
A-0 119%
Sinktur fund 48
96 101
laoania Cent See So Ry •
/
2 102% net '08 •. 9814102%
Nebraska Extension 48 1927 M-N 102 1021
laba nil bet; At Coast Line
101
1015
8
Oct
'08
M.N
Registered
1011
/
2101%
1927
Albany & Suscr See Del do Hutt
951
/
2
th) Oct '07
Southwestern Div U
19
92
11 11.S
Allegheny Valley See Penn RI)
Joint bonds See Great North
&Beg & West See Bait It 8s.
102
M-N
'08
Sep
Debenture 5s
974 1031
1021.,
1913
/
2
Ann Arbor 1st g 4s
82
85
41995 Q•J
82
65
'
2 78
Han tib StJos nonsol 68 1911 M-8 104 104% 1044 1u4ki
4 50414105%
99 4 124 951 1011
99
Atoll
/4 48.1995 A.0 90.8 Sale
/
4 chic& E Ill ref & imp g 4511(55 J.J
83
94 Apr'07
Register d •
100 Sep '08
1995 4-0
/
2 100
121
951
Aug'08
121
1st consol w 68
1934 A-0
122 122
9314
Adjustment g 45
944 25 83
94
92
41995 Nov
/
2
941
114 117 115.
General comae'1st 58.-1937
11554
7 lua1
/
211534
86 Apr'07
egistered.
61995 Nov
Registered
/
2 Feb'u
1181
1937 m-N
...........
Stamped
921
/
2 Sale
921
/
2 93
51995 M-N
8212 93
Chic & Ind C Hy 1st 56 1936 J•J 109
107 100.4
107 Ply'08
3
4
Cony g 48
90
95
0558
96
1955 J-D
7,7, 8534 97
Chicago & Erie See Erie
1U3'. lib 941
10-year cony •g 58
/
21044 Chic In & Louisv ref 68 1947 .1 • J 1291
1917 J -D 103 Sale 103
/
2 Sale 129
1291
/
2 3
130
96% Mat'08
Debentures 44iSeriesH 1910 F -A
961
/
2 961
/
2
,
Refunding gold 58
108 Sep 'Os
106 108
1947 J.J 1091
Nov'04
98%
Series1'
1911 F-A
103% 10434 1023, Aug'08
Lonisv
N
A
&
J
-J
1910
Ch
1st
68
100 102%
94 Nov'06 . .
Series K
11113 F -A
/
2
Chic Mil & St P term g 58 1914 J -J 1041
104 4 Sep
1031
,106
1)74 10 95% 98
0714
East Okla Div 1st 4s 1928 M-S
9512 98
General g 4s series A..e1989 J -J 102 1031
/
2 103 4 111234 5 100 103%
931
/
2Sale 95%
Short Line 1st 48 JPM recta
95%
956e 258 95
Registered
1041
/
4 Oct'Oa
e1989
Atl Knox & N bee L & N
90
General g 3,-ss series 1Le1989
9114 71 854 91's
91
941
/
2 93
Atlantic Coast 1st g 48.41952 3196
941
/
2 911
/
2 2( go
Chic & LSn Div g 55....1921 J.J 109',...... 1154 Oct'05
Charles & Sav 1st g 78_1936 J -J 127
Chic & Mo thy Div 58...1920 J -J 111 ,2
112 Sep '08
110 112
103% Pue'Os
Say b'& W 1st gold 66 1934 A-0 122
/111
/
2 124
1031
Chic & Pao Div 6s
/
2104 10418 MaY'06
191(1
t 04 104%
11288 Jan '04
1st gold 5134
1934 A-0 106
Chile & P W 1st g 5s
111% ill
1(9
)911 J.J 110.
5 108%1111
/
2
114% No,'00
• Ala Mid lift gti gold 58 1928 M•N 108
106
Dak
&
Gt So g 55
1916 J -J
106 SeP
1044 1061
/
2
ay% Mar'013
93
Bruna& W 1st gu g 48 _1938 J -J
122%
137
Far
18J
&
*ty
J
assu
Sou
'911
-J
g
68
1924
86
861
2
861
/
2
o1952 M.N
& N colic 4s
74
8878
104% Aug'08
Hast & I) Div 1st 7s
1010 J -J 105
1021
/
2109%
94
811 Sp Oca & gu g 48 ..191s J -J
9318 Sep 'Us
931
/
2 931
/
2
101
78
Daus
Apr'08
J -J
0158 101%
Atlantic & Danv See South By
LaCrosse & D let 58.-19
108
100% 108%
9 9 J.J 1064
Austin & N W See Son Pacific
Mineral Point Div 63.-1910 J-J 102%
100%1021
/
2
102', 102,931
/
2 9334 9378
94
1
213.1925 J• J
& Ohio prior 1g3/
'12 90
94
102%Se')'11
So Minn Div 1st Os
J -J 10358
1004 104%
AP Registered
51925 (4-J
140 Apr'08
891
/
2 90
109',Sep'
Southwest Div 1st 68
101 1031
90
19 J -J 102%
19
/
2
08
'
h..1918 5-0 994 Sale 994
99 163 96 42 102
Gold 45
j
1093
4
Wis
&
1091
Minn Div g5s
/
2Sep'
/
2
108 1091
00
1921
95% J'ly'08
• Registered
411/48 Q-J
05
961
/
2
105 5 Apr'0,_
Mil & No 1st 51 L 68
10518 10518
1910 J -D 104%
Pitts J ano lst,golcl 6s...1922 J •J 109
120 oet '01
lst, consol 68
1913 J -D 109%111 1011 Sep '00
[081
,109
87
PJail & M Div lat g 31281925 M-N
871
/
2Sep'08
83
88
117
Sep
'01)
131,104'
Q.
F
Northw cons 78
11712
1133811812
1915
9534 Sale 951
PL Edit W Va Sys ref 4441941 51-14
/
2
17 87
96
913
99 J'ne'Os
Extension 4s
99
119
1886.1920 F-A 100
Southw Div let K31
911
/
2 up.
/
28.-1925 J -J
911/2 33 83% 9211
08/
1
2 Apr'98
Registered
981
/
2 984
1886-1926 F- A
Registered.;
41925 Q-J
89 Oct 'no
113
Sep
'98
M-N
05
General gold 3128
95
69
1987
Monon Sir 1st ru g 58-1919 F -A 102
10578 Frib'07 ...•
80 Aug'08
Q-F
Registered
81i
89
1/812
Cen Ohio R 1st c g4 128-1931 M-S
109 A pr'Oo
1111
/
2 May'08
/
2
10712 1111
Sinking fund 6s-1879199
9211 5-0
109% J'ne'07
/
2
CI Lor & W con 18t g bs 193:, 5-0 1061
110 Aug't./•
Registered
/
2 110
1081
19
879.192 5.0
Ohio River RR let g 58.1936 J-1) 111
1084 Sep'"
110 111
/
2J'ly'or
1001
5.0
108
Sinking
1091
/
2
fund
bs
1879.1929
/
2
General gold bs
1937 A-0 1021
102 Sep '08
IOU% 109
104 Nov'tt7
Registered
1879-1929 A-0
Pitts Clev &Tot 1st g as 1921 5-0 107
11912 Slar'04
10178 Sep
Debenture 58
100%1024
11)09 XI-N
11312
Pitts & West 1st g 98 1917 J -J
881. Oct'0
M-N
10114 1011
10(1143
Registered
1909
/
2
Statist Ry 1st gu g 412s 1943 J-D
100 Nov'04
4 108%
1083
A-0
105 10834
Debenture
55
Bat Creek ttli 8 See Alicia Cent
J'ne'tr
193
Registered
10
921 A-0
Beech Creek SeeNye& H
0''
Sinking fund deb 58
1933 ,v1-N 113 114 112 seP'
1081
/
2112
Bellev it Car See Illinois Cent
100 J'iy
RegIstered
107 109
1933
Bklyn & Montauk See Long 1
101
101% Mart'
,
North Illinois 1st 5s
114134 10134
31 VI191(
Brune & Wettt See Atl Coast 1,
101%11,111)''06
Ott C F & St Paul 1st 5s 1909 nil- S 10014
101% 101%
Buffalo N Y & Erie Bee Erie
11934 Aug'u
Mil L S & West 1st g Cs 1921 M-N 110
1.18 119%
Buffalo H & P gen g 5a 11137 M-S 1141
/
2
11312J'ly'08
/
2
108 1131
1134
F -A 112',
Ext
110 1134
&
Imp
1020
s
fund
g
58
Consol 412s
195: IVI.N 102
1424,
1011810118
101., Thu.
'"
Ashland Div 1st g 6s 1925 M-S 12058
1,4
All & West Ist'ff 48 gu 1998 5-0
98 Dee'07
Feb
'Ot,
121
14
1-2818
Mich Div lat g 6s
1924 J -J
.
CI &
1st gn g 58— 1043 J -J 1081
103 J'ly'08
103 103
109 sop '01
incomes
1911 M.N 104
Roca'& Pitts 1st g 68— 1911 F-A 1105
.
1191
/
2Sep '08
114 1191
/
2 01110 Rock Ira& Pao 68 1917 J -J 11434'
11514 1104 12 112 1151
/
2
Consol 18_t it 6s
1142 J-0
117 Mar'08
112 %J'Iy'uti
117 117
Registered
1121
/
2 115
1917
11981: J J 114
Buffalo & Southwest See Erie
IA)
99% 1/8 Sop
General gold 4s
91 1001
1988 J J
/
2
Butt & Sum',lst ref g 48.d1951 J-J
88
871
/
2Aug'08
01
91
961
/
2 Alay'o8
95
J
-J
Iteittstered
97
9612
Bar C R & N A'rse C It I & P
871
/
2 461, 83,2 89',
/
2Sale 8618
Refunding g 48
1934 A-0 861
('Ian Soil' Oxt as
/
2 Salt, 107% 1071
1913 J -J 1071
/
2 21 10718111
97 J'ly'04
Coll trust Series H 4s _1910 M-N
;..
k.)2d
1913 Ill-S 1013e 1021
/
2 1014 101'-i
2 984 105
ll2/
921.
1
2
,Nov'06
J 40
1119102 NI-N
Registered
1913 tA-13
,May'07
1005
.....
1)014 Jan 'Or
M-N
hi s8
Darb & ShaWu See 111 Cent
93 Ai sy't)
NUN
N
Carolina Cent See Seab Air L
905,
N-N
04s
Carthage& -Sid See N Y C& Ft
0,
74,,,,
74 Aug'
84
tvi-N
P48
Ced R la is' tfb N 6ee BC R& N
7378 Sale
1135 355, 74%
Chic R I & Pao RR 43 2
11t9)9(1/2
1"
7 M-N
Den Branch Fly See 310 Pao
ts
05
Registered
'112', 65
20
1111) 51 N
Dent of Ga HR 1 t g 5s—p1945 b'-A 11258
114 Sep 08
112 114
Au(r7 GUn 5U'-4 77
75% Sale
73
11.8
Coll
gold
trust
5s
Consol void 5s.
1945 51.81 109 Kale 108
109
68 11714 10934
Bar Ced 14 & Northern—
1913
RegisterBd.
' 1945 Mg)
113 Apr'06
Mar'08
ar
07 ,N
1
11
20,
Con 1st & col tr g 5s 1934 A-0 113
106 111
1st prof income 5s.....p1945 (Jet
62
64
60 Ser08
55
73
Registered
A-0
Stamped
73 J'ly'08
65
73
111 1\ ov'tTh
CRIF& NW latieu 55 19
921 5.0 104%
2u pret income p 5s....p1945 Oct
43
40 Aug'08
45
64
741 & St L 1st en r 7s 1927 J
IS(lEbL5NE111184 111) .0 .—Contiimed on Next eage.
ij.rs. Goverlllll
S 2s consolrecuitered.d1930
d1930
.
3 7 32s consol coupon
51918
II 838 registered
51918
U 314 coupon
U 8 38 rec small bonds-51918
U 838 eon small bonds-1c1918
1925
U S 4s reelstered
1925
U S 4s coupon
S Pan Can 10-30 yr 20.5.193t,
Q-J
Q-J
...
-•
.
•
A
B
--
street Hallway
Brooklyn Rap Tr g 5a
1945 A.0
1st refund CODV 4s
2002 J.J
BkCity 181 con 58.1916 1941
J
Bit Q Co& S con gu g 53 1941 M-N
13klyn Cu El Ist g 4-50 1950 F-A
Stamped guar 4-5s
1950
Kings Co El 181 g 4s
1940 F-A
Stamped guar;48
11449 F-A
Nassau Cleo gag 48— 11151 J -J
Donn IV & L /Fitt% ref g 4123'51
Stamped truer 41
/
28
1951 J -1
Den Con Tr Co I t g 58 1933 A-0
Dot United let cob g 41
/
28 11132 J.J
Havana Elect consol g 56 1952 F.A
Inter-Met eon 418s
1936 A.0
Inter Rap T 3yt
68 1911 M.N
int ernat Trite coil tr 48 1940 J -J
& coil 58 1953 M.s
Manila Eleo
*No price ifriday; latest price this
Street Railway
Het St Hy gen col tr g 55 1997 F-A
80
79
Ref g 48
2002 A -0
Sway& 7th Av lstog5s 1943 J -D
98 sale
94 100
Col& Kla Av 1st gu g 58.11193 M.S
Lex Av& P F 1st rig 581993 NI.S
1(6
Third Ave RR con stu 4s 2000 J -J
62
Cent Tr Co certfs stmpil...
6218 Nut
Third Ave Ity 1st g 58 1037 ilV 10111
/
2 Salt
Met WS El(Cluo)1st g 48 193s F -A
Mil El Ry & L 30-yr g 58 1926 F-A
Minn St Ry 1st con g 55_1910 J -J
N Or! tty & Lt yen 412s _1933 J -J
St Jo RyLtH & P 1st g 66'37 11-N
98
sr, Paul oity Cab con g bc1937 J -J
Underground of Lon 5s 1908 J
Union El (Chic) 1st g 68 1045 A-0
United RRs San Frs f 48 1927 A-0
70-i 71%
United Rys St
let g 48 1934 J
* 7814
d Due Apr s Due may g Due J'ne Antic 'ly ie 1/110 Aug o I)(10 301
1014 10114
1014
1 91 102
74 Sale 74
7478 218 651
/
2 7738
102 May'08
99%11)2
90 Sep '08
91
92% 92%
993 Sale 99', 100
46 93', 102
100 103 Ply'08
98 1021
/
2
814 Sep'08 •..• 811
/
2 811
/
2
83
3 77
83 Sale 81%
63
75%
754 Sale 7514
9 75
80
95
Man*
93
981
/
2
95
/
2 100/
1001
/
21021
1
4
/
2 1001
/
2
931
/
21001
J'ne'00
09 Sep'08
70
69
69
91 Jan '08
88
94
94
60 Sale 051
/
2
683s
4978 697,.
101¼ 49 100 10178
101 Sale 101,
1
60
611
/
2 114', Sep 'OS
651
/
4
98 May'06
......
•.
• -•
•
.
••
week. aDue Jan
781
/
2 781
/
4 5
51 Sep'08
08
t
95 Sep 'VS
99 Sop 'le,
631
/
2
63,-,
3
61%
63 158
1061
, 1:1.1
/
2 106,
68
85
40
66
93 101
95
99
96
OS
49% (.14
50
631
/
2
101 1061
/
2
03‘2.Ply'01,
109 J'ly
107 12 Feb'00
/
2 Sill '11);
901
103 L4 Oct 'Ot,
Ill)'., NOV'Oli
40 Aug'08.
1111 May'tt
71
70%
791
79¼
/
2
411
/
2 411
/
2
10078 101
59
73%
4 70
85
26
4.11113 -',GY 8 /AVM ,:11.8
Ocv. 1.0 1908.)
AA -
N. Y. sTOCji 11X(7H A NII4E
WEEK ENDING OCTOBER 9
New York Bond
trice
,Priday
Oct
eeoc's
Range or
Last sate
Record-Continued-Page 2
sange
Niltef
January 1
BO IS Dr.
N. y STOCK EXCHANGE
WEEK ENDING OCTOBER 9
-Prize
Priday
Oct 11
921
• s
Radge or
Last •S'ale
hang.
since
January 1
Ohio Rodk & Pac-(Con).
84,1
ti tql,
Ash how
H tq b Erie-f Con)
tha
AS!. how
Huth No Low litgA
Choc Ok & 13 gen g 58 .011.111, -J 1021.1
102 Aug.',"
0419104-',
Y Sus & W let ref 5s 1937 J-J 102 106 105 Sep'98
105 105
Consol gold 5s
1952 M-N .109 110 4 109
100
109 100
2d
gold
412s
F-A
198
10014Dec'0,
Kook
1
s At 1st 5s
192: A-0 0738103 10112S8P'
954101',,
11b
.
General
gold
5s
1949 F-A * 91
89 - 0012 7 89
Chic st 1; & N 0 See 111 Cent
94;
Terminal 1st gold 5s 1943 M-N 11112
110 Jan'08
Chic St L & eitt8 See Penn c,
110 110
Regis 35,000 eacli 1942 N-N
Chic St P bl c5, ti con 6s 1936 J •11 120 12912 128 Aug'08
121 128;
Mid
RRO(NJ
1st glis 1.910 A-0 9'334
102 J'ly'Or
Cons 6s reduced to 312s 193., J•D 91
101 102%
93 Dee'93
Wilk & Ea 1st gu v- 58 1942
95 100 100 Sep 'Or
:00 101
eh St P & Mum let g Us 191,"IN 128;
12719 Aug'br ..
24 12714
& Ind 1st con en e 0s 1926
.I-J 111
110% Aug'Or
Nor WISCOU8111 1St 68 193. J
108 113%
12678
12104 blar'04
Erle
&
Pitts
see Penn co
,
St
& S City 1st A 6s
1911, A •0 111;
11634 Aug'08
11519 1174 Evans & 7 H 1st eons
08 1921 J - J
112 Jan 'Of.
Chic& West Ind wen g tis q11132 (4-M 11318
112 112
112% 113
17 112 113
1st
general
gold
58
A•0
1942
101 102% J'ly
Consol 60•year 45
WS 103
94;
195', J. J
913 Sep'US
9514
91
Mt Vernon 1st gold 66 1923 A-0 102
Apr'llf)
Chic & W Micu see Pere Mare
114
Sall Co Branclt 1st g 6e1930 A-0 87;
93 J'ne'06
•
Choc0& Gulf See C it I&
95 -14Wargo
&
So
See
Ch
St
&
St P
Olu H&D 241 gold 4 42s 1931 -J
113 Oct '09
lint & Pere 31 See Pere Mat
Cin D &, 1 let gu g 5s 1941 5-N
96
102 J'ne'07
Fla C& Pepin See Sea Air Line
C Find & Ft•W 12t gu 40 g,'23 51-N
80
Fort
St
U
D
Co
1st
g
44
243.1941 2.3
105 7.fee9*
Cin 1 & W 1st sru g 45.1953 J •.1 * 70
70 Aug•iis
70
70
Ft W & Den 0 1st g 6s
1921 3-0 113 113 11212 Sep'Or, ".
Ind Dec & W 1st g 5s 1935 J -J
104 114;
88
NO
91 Aug'08
90 91
W
&
Rio
Cr
let
g
4s
1928 J -J
8212 bale 82; •821, 1 74
1st guar geld 5s
86
1935 J•J
107;Dec'02
......
I
Sal
Har
&
BA
•
See
So PacCi,
C I St L & 1: See C C & St
Oral H & H of 1882 1st 55.1913 A-0
96 Sep
06
CinS&0 Sir C C C St L
96
Georgia & Ala See Sea A Line
Olearneld& Mali See 11 R &
Ga Car & Nor See Sea A Line
Clev Gin C &st L gen g 4s 1993
96% 97
96; 9634 24 92 • 98
Georgia Pacific See So Hy .
Cairo Div 1st gold 48
90 May'08
95
98
11131 J -J
96
90
.31Ia
V 0& Nor See So Pan Co
Cin W& 11,1 Div let,g 48 199i J •J
94
97
96 bop '97
Gouv & Oswegat Sea N Y Cent
St L Div lst•col tr g4s 199t M-N
PU
98.1
96
5 90
116
Grand Hap & Ind See Penn KR
Registered
91 Oct '07
199. 4-N
Gray's Pt Term See St L S W
Spr & Col DV 1st g 4s 1941 11-S
92 Feb•U8
U2
92
Gt Nor-C.B.3 Q coll tr 46 1921 4.2 9776 Sale 9734
9834 220 9219100
W W Val Div 1st g 4s 1114( J -J
92
98 Sep'06
Regtstered./t
9734 97 Sep'08
1921(
92'-,, 98,
44
0I St 1,& C consul 0:1 192. 41-N 10334
105 Jan'04
Greenbrier
Ry See Ches & 0
1st gold 4s
07 Aug'or
98
Ic1936
95% 9714 Gulf &8I 1st ref & t g
93 IN ov'07
J-J
58
b1952
•
Registered
97
97 Get 'Us
1c193.1
97
97
an & St Jo .See C B & Q
Cm S & Cl con let g 5s .192r 1106;Sep 'Or
1 4)619 10)319
:P
J 107;
ousatonic SeeN Y NH& H
0(30 & 1 couso176
.Sep 'US
1143
1914 2•11 114
114 114% flock Val letconsol g
105
412s-1999 J-J .105 Sale 105
5 984106%
Cousol sink tund 741.-1914 J
Registered
•
100;Sep'08
1999 J-J
[0019 10019
General consol gold 66 1934 2.2 125
125;Sep'08
120 125',,
9834 Nov'06
Col & II V 1st ex;g 44 1948 A-0 9534
Registered
1934 J -J
Col &, Tol 1st ex.4s
99
98
J'Iy'Ub
F-A
935
'
96
1955
96
Ind Bt & W 1st prof 48 1949 3•0
94 J'ly'08
115
94
Houst F.& W Tex See So Pac
0 Ind & W let pf 58...(1103i- 42 J
lionst & Tex Con See Irlo Pac Co
Peo & Eftet 1st con 4s 1949 /4-0 130
3
90
90
92% I llinon, Central 1st g 4s
85
102;Aug'08
102 103;
1951 J-J 102
Income 48
1991, tin * 4018
40%
60'
401,3
35
Registered
107% Apr'07
1951 2-3 *10034
Clev & Monet 48 See Penn 111,
1st gold 31211
92
91% 92
92 Aug'08
1951 J-J
Clay & Pitts See Penn Co
Registered
91% Ang'0
9134 9104
1951 J -J
91%
65
Col Midland 1st g 48
66
97 55; 68
66
194% J J
66
Extended 1st g 312s
89 Nov'u,
1951 A-0
Colorado & Soil let g 4a 192i. r A
1.4% Sale 94
9434
82
9434
1st gold 3s sterling
70
Oct
M-S
'04
1951
bale
Relund & ext 4 420
SO',, 365 73 86;
1935 M-N
86
8619
Coll Trust gold 45
97 102
1052 A-0 99 100% 102 Aug'ub
Coluni & Greens, Sett So Hy
Registered
98 Marv,
......
1952 A-0
Col & HOCK Val See Hook Va,
L N 0& Tex gold 4s _1953 M-N
'Or
102
Sep
193%
102
102
Col & Tot bee 3'1 tick Val
Registered
1953 M-N
97 MaY'07
Col Coon & Tet'in See N & W
Cairo Bridge gold 4s
1960 J-D 99%
10234 Jan '07
Conn &PDS Rive let g 48.194. .
LoutsvDiv&Term g3128 1963 -.1
85
8919
88 Sep'98
89%
Cuba Bit 1st 50-yr 5 g
1952 J -J 4, 95
91 Apr'Or
91
01
Middle Div reg 55
1921 F-A
123 111.549:.
tak&GtlOO,see U & st
Omaha Div 1st g 3s
784 Ape°
1951 F- A
Jfaiiae&.Wa4) S'ee
K&
St Louis Div&term g3s 1951 2-2
70;alay'or
76% 76/
1
4
Del Lack & WesternRegistered
3i2s
80
1951 J-J
Morris& Essex 18t78 1914 V1-N 117;
1177,, Sep 'OS
114'4 118;
Gold
J-J
89 • 802 87 j'ue'08
1951
79;
873
8
lat consol guar Is
1915 J -D 119 120 11:114 119%
118;12019
Registered
J -J
101% Oct 'id,
Registered
11115 J -D 118
127 J'ne'Uf,
100 Nev'ut.,
Spring Div 1st g 342s 19
59
05
511 2-2
1st ref gu g•312s
200.• 2-0 96
Western Lines 1st g 48 1951 F-A
97% Aug'07
NY Lack & W 1st 6s..:1921 J -J 12078 125 1244 Sep 'Oc
11.3191241,,
13elley & Car let Os
1923 -D 112
122 liee'tg,
Construction 58
1923 V- A 10919112 112 Aug'08
108%11214
Carb & Shaw 1st g 4s 1932
Sep 'Or
97
9812
97 100
100
'rerte & improve 4s
1923
11934 J'Iy'Oe
971910019
115 bee
Chic St L& 0 g 5s 1951 J-D 115;
112;116
Warren let ref gug31214 2009 F- A 89;
102 Feu'03
119% blar'0.
Registered
1951 J-D
Del its Ilnu 1st Pa Div 70 1917 M•S 1201
/
4
12112 Apr'08
t21;
123
88;FelPiii
Gold 3198
1951 J -1/
Registered
119
1917
149 Aug'01
Registered
1951 J-D
1st ref 4s(
' 1943 M-N 100;
10078 101% 76 981410134
100 Mar'0_
Memph Div let g 43 1951 J-D
.0U 100
10-yr cony del) 4e
J..15 100 Sale 100
10012 3:, 94;102%
St L Sou 1st gu g 4s
98 J'Iy'u
1/8
IPS
1931 M-S
138
1st hen eqpipar 4;a
1922 J -J 101
97 Mani/.
96
97
Ind Bl& West See CC C & St L
Alb & nue come 3128
1916 A-0 9434 '3619 98 Sep 'o•
91% 118% Ind Ill & Ia let g 48
95
98
95
1050 J-J
95 Apr'Or
95
Hens & Saratoga let 78 1921
12878
128425eu'u8
128;1284 int & Great Nor let g 64-1919 11-N
106
110 106
1 101 109
Del Riv 1111 Bridge Bee Pa RR
2d gold 5s
79
1909 M-S
81
1.4 3 70 99;
Deny & It Grist eon g 48 1113() -2
93 94
93 Oct '08
89
95; 3d gold 48
M-S
'9,
Oct
60
1921
COnsol gold 4 4,2s
98 Jan Ob
193t, -J
98
98
Iowa Central 1st gold 58 1133b J-D 108'4 1091U 10812Oct'Uc
100%10812
ImproveMentl gold 5s 192r J
98 Sep '08
981911
)
0
94 100
Gold 48
7512
75; 76
1961
75% 25 70
78
Rio Gr Juno 1St gu g 56 1936 J -D
98
98
97
J enerson RR See Erie
11149 4-2
. Rio gr liol1fit gold 48
76 Dec'05
1/atA&GR See 1. 8
Guaranteed '
85
1946 2-2
85
85
[.an & 181Ch See Tel& 00
1939
West let g 48
Crto
91 Oct 'Or
90%
KOFtS&111 See St L & S F
8312 91
Mge and col trust 48A 1941, A.0 73
74 Sep'68
75
76
70
ii.0&11.1t&B SfeestL&SF
Utah Cent lot irti 348 a1917 A-0
97 J au'92
Kan C & Pacific See M K & '1
Des Id &
D seeM&StL
Kan City Sou 151 gold 314-1956 A-0 71
72
72
74
72
2 69
Des bloi On Ry 1st g 644.11117
110 Sep '04
Registered
11151., A-0
63 Oct 'LA,
Det& Mack 1st lieu.g 44 1911i, J•14 90
92 Merit'?
Kentucky Cent See L& N
89;
142
Gold 48
88
111111 J-D
Ang'lic
80 89; Kook 413 Des!do See 0 11 I&P
Detroit SouthernKnoxville & Ohio See So Ry
Ohio Sou Div Ast g 413 1941 vt7734 Jan '08
77% 77% I ake Erie & W 1st g 5a 194
937
1
113
1061
112 Sep'08
/
4112
Dul & Iron Range lst6s 11)31 A-0 106%
198 44Pne'o8
,02 109% 1d
.4 2 gold fis '
103; 103; 1 100 3.0312
J-J 103
Registered
10619,M•ar'ur
193; A-0
103;106;
North Ohio let gug 55 1945 A-0 105 Sale 106
105
16 Lub 1415;
2d Us
191u J -J
!.Sl,o&MichS Bee N Y Cent
Dul Short Line Se. Nor Pau
Leh Val N Y 1st gu g 412.9.1940 3-2 10712
108
108
10 102;108
107;112 108 Mar'08
Dal So Shore & AU g fis 1113
11)778 109
itegistered
106 106 May'07
.1•2
Vast of Minn SeeStPSl&Ii
Lehigh Val(Pa)cons g 413 2
93% J'ne'Ob
10
90
43
0 aft-N
87; 95
11.14ast Ten Va & Ga See So It)
Len V Ter Ry 1st gu g 5s 1941 A-0 115
11712Sep 'Ur
11/8 117;
Elgin Jot & East 1st g 5E1.1041 41-N 10834
106 42 May'08
Registered
1061910619
1941
109'.2
'UV
out
A.-0
Elm Cort & No .See Leh & I
Leh V Coal Co 1st gag 58 1033 J-J 108
11/6 107%
107 42J'Iy'ut
10019
Erie lst ext gold 4s
0912 .114y'08
11147
99 105
Lcli&N k1stguarg4s_1945 11-S
97 May'or
95; 97
26 ext gold 55 •
1911 .11-S 10134
104's Ape1i8
101;104 10
Registered
1945
8d ext gold 4128
911 Mar'08
1923 .v1-6 10034
93% 100,
El C ,f3 N 1st pf 43s
,
113% Jo/1'U
1914 A-0 99
4th ext. gold 58
/
4
1921 A-0 1041
104 biay'Or
104 1061
Gold guar Os
,
1914 A-0 98%
10519 Jan'Ol)
5th ext gold 4s
1113
J-14 13619
98
118
98
Leh .43 Mud it See Cent ot N J
1st consol kohl Is
1920 51-S 121 126 121
121
2 117 122'.,, Leh & Wilkesb See Cent of NJ
1st anima g fund 78
WU 51-S
120 jau'08
120 12014 Leroy & Caney Val See bio P
Erie 1st con g 4s prior 11)Ub J -J
87',. 86; 87% 24 80
Long Dock See 6rie
90
Registered
79 Jan'08
79
79
Long led-let con g 68 41931
▪
111 11214 Sep'0
105 112;
1st 0011501 3011 lieu g 40-191d, J -J
73;sale 72
74 393 55
1st CODS01 gold 4s
74
41931
93%
Register it
11.111t, J -J
8519 Feb'U:
General gold 45
1935
94;
94 Sep '0
83% 94
Penn coil
g 48
1951 F-A 8112 82
132
82
10 67.4 844
Ferry
gold
412.4
1922 MI-S 90%
102 Nov%)
50-year cony 43 A
1953 A-t) 731
/
4 Sale U934
73 252 43
Gold 4s
73
19
11
,
3u
2 J-D
991
/
4 Oct'0
do
Series B 1953 A-0 63 Sale 59.4
0414 353 40
Unified gold 4s
64%
9211
Sep
'0
92
81
93;
MrS •
Bufl N Y& Erie 1st 7s 191,, J-1,
115 Aug'Or.
116 118
Debenture gold 5s
1934 J-D
1.10
Ohio & Erie let.gold 55 11182 M-N 112%
10814 112
112 J'1.1°03
Guar ref gold 4s.
19411 M-13
913
96
06
1 90 97
Clev & Mahon Vai g bs luar .1-J 10434
11619 Jan 'U.,
Ilklyn
Mont
&
let
g
68-1911
M-S 102
Jeff Eli 18t gu g
98;Apr'913
A-0
1631 98;
lut ris •
1911 M100
9919 Sep 'U
Long Dock" coueol g 6(4 1935 A-0 123
128 Sep'08
121 128
N B.,51.1 13 letcong68 1936
1101
/
4Is ov'u
100;
Coal& Eli 181 cur gu 68 11122 vl-N
118 Sep'06
N
Y
&
13
R
let
g
58
1921 14-43
105 Apr'U
......
Dock & Dup 1st Our 68 1913 J -J
107 106 Mar'08
106 106
Nor 81113 1st con g gu5s01932
109
9534
Nov'th
TT 7& Green L gu if 56 1114t M-N 103;
100 Feb'08
100 100
Lotnelana & Ark 1st g 53.1927
100
98 Apr'U
118 • 98
itie.C.ELLANIsaiLus Itt/Atia,--contieuee on Next ...age.
Gas anti Electric Liam
Gnu and Electric Light
Atlanta U L Co lot g 5s...11147 -D
Lac Gas LotSt List g 58.81919 Q-F 102 102% 102
102
14 99 108
Bklyn U Gaalstcoug68.11345 M-N 106 Sale 106
106; 2 9242 106%
Ref and ext let 358.
1934 3-0
101 Sep'08
101 101
Cony detain Us.,
11191.
S
130 140 136 Sep 4.113 •
Milwaukee (las L 1st 4s..11.12', M-N
119 139
91%
811;Sep'0
89; 90
Butialo Gas let g l's
1134, A-0 56 Salo 56
56
YUELkl & P g 58-1946 J -D 10119102 101
1 54
00;
101
2t1
88 102
Consol Gas elluv deb 6s
11/01, 2-2
150 145
1461
/
4 2,, 103 154%
Purchase money g 4s...1949 F-A 85 Sale 85
85
6 75
Detroit City Gas g Os
88
1923 J-J 100;Sale 1004 190; 49 93;109
Ed El Ill let cony g 35..11.119 odl-b 1004101 10078 Oct'0
4,
9819130
Det Gas Co con 1st g 5s.191b F
98 101.112 98%Sep'08
consol
let
98%
gold
986
8
5s
1995 J-J 107;Sale 10712 107
10712
108
Ed ELIA Sees Y ti JO141,1141),
1
NY&Q El L&P 1st con g 581930 F-A 88
95
82 Aug'089 89
Eq LN Ylstcon g 5a 11)32 afl-S 98%
96 Mar'90
96
N Y & Rich Gas 1st g 58.1921
96
10378 44ov'0
Gas& Elea Berg Coo g 6s 1949 .1-1)
...
61;Oct '01
Pat & Pas 1.4 & Ii con g 58.19411 M-S 97; 97 1043
.Nov10
Gen Electric tielf 312e 1941. F A
83
83
83
Peo Gas & C let con g 611 1943 A-0 11434
79
83
115 J'ne'lf
1074115
10•yr g deb 58
1917 J-D 126 Sale 125
126
• Refunding gold 63
26 106 129
1947
M-S 100,2104 tollaSepio ... 94 1081
/
4
Gr !tap LOUg 6s 11115 F -A
114;
107% Dec'UO
Chti-L& Cke let gu g 58 11137 J-J 10219
10378J'ne'08 ... 98 104
Hudson Co Lino lot g 56 11141, ,N-N 103;
102 J'ly'08
10119102
Con 61 Coot Ch lst fru F 58.'36 J-D 103 Sate 103
103
2 95 103
Kau City t510)Gas let k eas 11122 A-0 96
99 Deo'00
Mu Fuel(las 1st gu g os.1947 51-N 100;
100 Aug'08 .... 92 100
Kings Co 41 1.6* k' g bs 103, A-0 99;
Syracuse Lighting 1st g 58.'51 2-1.3 9712 '
.•
Purchase money de
A-0
ill Sep '418
103 111 12 Crouton (I & 151 let g 641-1949 Wit
110 Iday'05
Ed El II SkIs 1st con g 48 1931' J -J
88 Sep '013
Westchester Light'g g 58.11150 J-D
,.0
103 J'ly'08.h01¼ 104
'No prioe Friday;latest ma and asked this week.a Due Jan 0une el) a Duo ..pr e Due _day
Duo '17 ic Due Aug 0 Due Oct q Das Dec J Outten B&W ,
U
......
•
•-
•
......
•
......
•
New York Bond Record --Continudd-Page
922
Igor,or.
N. Y.STOCK EXCHANGE
WILEK ENDING OCTOBER 9
45r,
Prtce
Friday
Oct 9
Week'it
Range
Range or 14
2
Since
Last Sale
January 2
Bid
Ask Low
Riga No Low Nigh
1284 Aug'08
112%11814
Louisv & Neatly gen g 69 1930 J-D 119
11078J'ne'08
1937 M-14 11312
11012 11078
Gold 5s
4 100
/
991
2 20 95 100
/
4 991
/
1940 J-J
1)91
Unified aold. 4s
2
/
961
101 18J'Iy'06
1940 J-J
Registered
I
105 J'ne'08
1910 A-0 10218
105 105
Sink tuna gold Be
1931 M-N 104;107 103 Aug'08
102 105
Coll trust gold 5s
05
5 88
9612 95
9614
5.20-yr col tr deed g 48 1923 A-0 95
111 Nov'07
E H & Nash 1st g 69- 1919 J -D 11178
M-N
104 Mar'08
10314 104
10614
L Cin & Lex2zold 412s 1931
122
122
1930 J -J 121
115;122.
N 0 & M let gold 6s
120 1224 Mar'06
1930 J -J
N 0 & M 2d gold 6s
1074 Ang'06
. Pensacola Div gold 6s. 1920 M-S
117 May'07
1921 M-8 105
St L Div 1st gold Be
2Aug'07
1
62/
1980 M2d gold 3s
..
2 11 81) 11312
1
93
93/
At!Knox & Cin div 43 1955 M-N 93 94
116 J'ly
......
At( Knox ea or let g 5911146 J -0 105
2Jan '06
/
1081
Render Bdge 1st s f g 69.1931 M-9 • 94
OR Sep '08.
95
88
96
Kentucky Cent gold 4s 1987 J-J
0714J'ne'08
071
2 971
/
2
/
. L&N & Al & M 1st g 41291945 31-3 98
88
84
84 Sep'08
2 87
/
791
Lab N-South M ionit 49.1952 J.J
1 L014 J'ly
.1937 F-A
11014 11u14
• N Fla & S 1st gu g
08
41291945 J.J
N&0Bdge gen gn g5s..
2
/
113 Jan '08
113 113
Pens & Atl let gu g 6s 1921 F-A 1051
4
/
Ill May'07
• S & N Ala con gu g 5s 1936 F-A 1031
M-8
2Jan'08
/
911
1946
911
2 9112
/
49
g
Ku
Co
Bdge
L& Jed
.LNA&Ch SeeCI&L
S
'IAA ahon Coal See LS &
9712
97%
4 1)2
991
2
/
111Lanhattan Ry consol49.19110 A-0 97
104 Apr'05
1990 A-0
.Registered
9814 13 9634 1004
Stmpd tax exempt-1990 A-0 98 Sale 98
ceB 5C Cent
EteR'pt B V
81
81
81
13 741
82
4 85;
/
Mex Cent consol gold 46 1911 J-J
16
16
17
4 141
2
/
2 201
/
let °onset income g 3s.a1939 J'13' 18
16
16's 3Iay'08
15
10
2
/
181
2d consol income g 3s-a1939 J'1Y
9014.' '01
bier Internet 1st con g 19.1977 M-9
80 Feb'08
1977
80
80
Stamped guaranteed
105 Alay'll()
1910 J -D
.Mex North let gold 6s
Mich Cent See N Y Cent
Erie
See
J
Kid of N
L & W See Chic & N
Mil & North SeeChM&StF
2 2 12514128
/
2 1271
/
1271
,Minn & St L let gold 78-1927 J-D 12718
4
/
10114 Aug'08
101. 103
1909 J-D 1011
Iowa Ex let gold 7s
118 Jan'07
Pacific Exist gold 13s 1921 A-0 105
11314 ar'05
South West Ex lst g 79 1910 J-D
2Sep '081 ••.• 100 10512
/
1051
1934 31-N 105;
• let consol gold 5s
79%
78 Sale 78
79% 82
: .1st and refund gold 49-1949 M.
97 Apr'06
Des AI & Ft D 1st gn 4a. .235 J-J
Minn & St L gu SeeBCR&N
100
2 961
4 98
/
StP& S1331 con g 4intgu'38 J-J 100 Sale 100
102 J'ne'07
biSSM&Allitg4intgu1926 J-J
Minn Un b'ee St P &M
4 99% 11 94
/
2 991
/
9912
afo Kan & Tex lst g 49 1990 J-D 99 091
85
14 771
8514 85
85
2 86
/
g1990 F-A
2d gold 4s
10512 10 115 106
2Salt 105
/
1944 NI-N 1051
• let ext. gold 5s
2 5 7478 80
/
781
78% 78
2004 A1-9 77
let& refund 4s
2
/
821
4Sale 8138
/
811
2
/
821
71
1936 J-J
2s
/
Gen s 1 41
83
83
2
/
821
4
/
831
2
/
4 841
/
801
2001
A-0
4s
g
ref
let
Div
L
St
103
10214106
Dal & Wa 1st gu g 5s 1940 M-N 103 Sale 103
88% 88% 1 87
90
Kan C ‘112 Pao 1st g 43 1990 F-A 88% Sale 1071
2J'ly'08 ...• 1(4538 108
/
.blo K & 1st gu g 59 11)42 A-0 10614
100
106
1 102 107
1942 M-N 106
Al K & Ok 1st gu 5s
10478 105; Aug'08
2
/
21061
/
971
M K & Toll'Istguglia 11142 N1-9
100
18J
'ne'08
1031
...•
4
10014100½
J-D
1943
Sher Sh & So let gu g 58
1044 Sep'08
210434
/
1021
Tex& Okla lstgu g 5s 1943 NI-S 10134
2 1131
/
2 2 1041
/
2 1131
/
2
/
21131
/
1920 11-N 11312 1141
b(o Pacific let con g 68
2 1104 9314 '39(4 10 88 1021
/
981
2
/
Trust gold 5s stamped.a1917
2Feb'07
/
1041
all)17 31-S
'Registered
2 3 871
/
1161
2 971
/
2 9612
/
4 98
/
1920 F-A 961
1st coil gold 5e
2 7434 83 68
/
741
75
2
/
781
1945 M-S
40-year gold loan 4s
95 Mar'Oa
2
/
95
05
1938 M.-N 881
3.3 7s extd at 4%
85 Feb 118
87
85
Cent Br Ey let gu g 49 1914) 11 -A
8914 Sep 'Ur
2
/
2 8914
/
831
Con Branch U P let g4s 1948 J-1) 891
110 Mar'05
Leroy& C VA Llst g5s 1926 J-J
994 Feb'O8
9814101
01.11
4 11914
F-A
4s.1938
g
ex
1st
bio
of
R
Pao
112 Dec'01
2d extended gold 5s 1938 J.J
1101
2 1101
/
2
/
2
/
1-1/1;..
St L 1r 2I& Sgen con g 591931 A-0 1101
2Sale 110
/
1101
2 20 1(10 1101
/
2
/
Gen con stamp gtd g 531931 A-0 1101
86
2 87
/
861
801
2 1
/
68
b7
Unified & ref gold 49-19211 J -J
2Sale 8512 86
/
851
87
14 76
Riv &1* Div 1st g 4s 11133 M-N
2Apr'06
1
107/
! Verdi V I & W 1st g 59 11426 M.
98 Dec'U6
Mob J & K C 1st cons g 58 1953 J -J
119 Al ay'U8
113 119
Mob & Ohio now gold 6s 1927 J-D 1204 123 10514
Jan '0)3
1051210514
let extension gold lis../4 11127 Q-J 11-2
135 Sop 'US
2 86
/
821
AI-9 83 84
. ...
General gold 48
1121
2°WO),
/
1021
211212
/
Alontgom Div let g 59-11147 F-A 10834
75 May'lle
75
75
St L & Cairo coil g 4s..911)30
101 Nov'04
Guaranteed g 4s
1931 -J
M & 0 cell 48 See Southern
Mohawk & Mal Bee N Coo 11
Monongahela Ely See B &0
Mont Cent See St P &
Morgan's La & T S'ee S P Co
Morris & Essex See Del Lifo W
4114% 1144 1141
/
4
/
2
/
110%21141
kl ash Chat ,Sb St.L 1st 79.1913 J-J 1141
1 1061411214
11039 11038
192b A-0 1104
1.1 1st consol gold 5s
116'-.' May'01
Jasper Branch lst g 69-1923 J -J
1174 ALar'05
MGM AL W & Al lst 6s 1917 J -J
113 Ply '()-1
T& P Branch 1st 69._ 1917 J -J
.& N
Nash blot'& Slier See L
100 Sep '08
93 1001
4
/
Nat of Alex prior lien 410.11/26 J -.1 10014
77
1951 A-0 Si
8314 Sep'08
8314
let consol 48
It&
Y
N
See
D
&
:New
NJ Juno alt Sec N Y Cent
New tib Cin lidge See Lou& N
Blau & Mall Beh Seel,I
9212 Sale 9218
2 9314
/
2 35 871
/
921
23.1997 J.J
/
; N Y Cent4) B. lily g 31
91
91
2 91
/
1097 J-J
881
Registered
9434
11412 95
115(4 53 91
9514
1934 M-N
Deben g 4s
4 Sale 8234
/
83(4 69 75
84
29.-1998 F-A 831
1
Lake Shore coil g 3/
82
8218
14) 73
1141)8 F-A 82 Sale 8114
Registered
ti I.
2 83
/
741
834
8z(4
MicttCeutcoilg314s..J998 F-A
76
76
1996 F-A
76 Apr'08
Registered
94
102 1feb'07
• Beech.Creek let gag-18 1936 J-J
102 Alar'04
1936 J-J
Registered
•
19312 -J 102
2(1 gu gold 5s
Beech Cr Ext 1st g 31
2951951 A-0
/
Cart & Ad 1st gu g 4s...1981 J -0
•
•
6.
1.11S4IELL 4..1%E41
Coal and Iron
Ook F & I Co gen s f g 59-1943 F-A
Convertible (Leb g 5s....1911 F-A
Col Fuel Co gen gold 69.1910 M-N
Ers- Coal & 01st g 661910 A-0
Oleart Sit Coal lets 148...1940 2-3
CoLIndulst& coil 5s gm..1934 13-A
ContuetalC 1st81 gn 5a g.1052 F-A
Jell & Clear C.& I lat g 5s.14)26 J-D
Kan& }t O& C let s fg 59.1951 J-J
Pleas Val Coal let gel 59.1928 J-J
Sunday Cree.t Co g 5e....1944 J -J
Tenn Coal gen 5s
1951 J-J
Tenn Div 1st g Be
a1917 A-0
Blrin Div let consol 69-1917 J-J
Cah C M Co 1st gu g 69.1922 J-D
De Bar C& 1 Co gu g 69.1910 F-A
Va Iron Coal &Colst g 56 1949 M-8
1953 .1-.1
Victor Fuel 1st s I 5s
I *No price s'rialiy; latest 010 and aRiC
3
BOND:.
Price
Week's
&Inge
Friday
Range or
N. Y. STOCK EXCHANGEl•::t
Since
Last Sale
Oct 9
,
•/: January 1
413
WEEK ExinNo OCTOBER 9
Sid
)
So
As)
Low .lisgh
Low nigh
N Y Cent & H B--(Continued
Gonv& Oswe letgu g 5s 1942 J -I)
98 Mat'08 ... 1/8
2 100
/
Moh & Mal let gu g 49..1991 NI-9 981
98
0514
......
105 Oct'02
NJ Juno R gu let 4s...198(3 F.A
2 97 101/
/
2J'ly'06
1
N Y ,41, Harlem fr 312a .2000 M-N 931
10712 Ang'08 .. 107/
2107/
1
2
1
N Y & North let g 5s...1927 A-0 103
100 lOu
100 Sop '013
N Y & Pu 1st con ga g 49 1993 A-0 96
Nor & Mont 1st gn g 59.1916 A -0
107 Nov'07
Pine Creek reg guar tis.1932 J -D 11814
l0574 112
R W&Oconlstext5s.h1922 A-0 109 114 11178Sep 'or)
105 105
105 Jan '148)
• Oswe & R 2d gu g 5s...e1915 F-A
RW&OTElstgug 59.1915 M-N
Rutland 1st con g 4129..1941 J -J --_-„..-. . 103 Sep'0, . 103 103
I 82
2 8618 86 .•
1
864 SS./
884
Ogr&LCham 1st ga 4s g1948 J -J
8f) 90
90 Aug1.18
87
Rut-Canad 1st gu g 49.1949 3-3
122 Jan'06
St Law ea Adir 1st g 5s 1096 J -J
1996 A-c
125 125
125 Feb'118
241 gold (19
2
/
9934 9/04
9934 Apr'06
Utica & Blk Rivgn g49 1922 J.J 1001
2 94(4 6 8034 941
9414 931
/
1997 J-D 93
2
/
Lake Shore gold 314s
4
/
931
120
1907 J-1) 921/4
Registered
9319SeP'08
06
1828 A1-9 94 Sale 94
94
7 54
Debenture g 4s
1031 fe1.72, 951,, Sale 124
11538 118 8814 9534
25-year g 4s
Ka A & G R 1st pi e 59 1938 j-J 10714
109 Oct '07
Mahon C'l RR 1st 5s1934 J-J 106
100 .May08
100 100
Pitts 0,4 L Erie 2.3 g 5s.a1928 A-0 10114
130 Jan'03
Pitts MeK & SC 1st gu 6s 1932 J-J 119
1934 J-J 112
2d guar(38
McKeee& B Vietgee 1918 J.J 108
104 Dee'06
Mich Cent let consol 69 1900 M-S 98
1(15 Deo'07
1981 M-8 110
5s
119 J'ne'0
2
/
1931 Q-M 1061
Registered
10034 Jan '07
07
1940 J -J
4s
2Nov'0
/
1061
1940 J -J
Registered
90 Pne08
30 00
1951 '41•9
28
/
J L & S let g 31
91
00 .SeP '14
88 0012
1952 MN
lat g 312s
Bat0 & Stur 1stgu g 39 1989 J-D
100
100
4 9514102
N Y Chic& St L 1st g 4s 1937 A-0 9912
210038 100 Sep '()E .. . 100 100
/
1937 A-0 991
Registered
93
1/3
:...5 92 93
1931 M-N 02
Debentures 4s
2 10314 11 98 104
/
210312 1021
/
West Shore 1st 4s gu 2361 2-3 1021
Si 961
21021
/
2
/
2361 J -J 10134 Sale 10114 102
Registered
N Y & Greenw Lake See Erie
N' Y& Her See NY C & Had
SI I Lack & W SeeD L& W
ST Y I,E & W See Erie
ST Y& Long Br See Centot N J
2
/
98 11512 1301
S' Y N H & H-Conv 68 1948 J -J 12934 Sale 129% 130
4
/
931
93 - 41 85
92-.' 1131
2 924
/
1956 J -J
Cony deben 314e
112
112
Mar'ub
11'2
2
/
1141
Housatonic R eon g 59 1937 M-N
N H & Derby con cy 59 1918 M-N 107
sT Y & North See N Y C & 11
2 691
/
921
2
/
9818 Salt
i Y 0& W ref let g 48-01992 31-S
101 2J'ne'Ot,
Regis $5,000 only
g1992 31-S
1 Y & Put See IC Y C & .11
sf Y & R B See Long Island
sT Y S & W See Erie
sT Y Tex & 31 See So Pee Co
2
/
2 991
/
99143lne30 ._. 991
105
sTor & South 1st g 58
1941 M-N
10 120 128
126
1931 M-N 128 Sale 128
iorf & West gen g 6s
2
/
21171
/
14712 Jan'O: .... 1171
Improvem't & ext g 09_1934 F-A 128
New River let g 6s
1032 A-0 123 126 127 Oct 11)
2 0934
/
14 921
97
17
97
N & W By let con g 49 1996 A-0 96
91 Sep'0, ... ......
1096 A-0
Registered
4 11378
/
1 841
93% 9314 933.•
Div'l 1st 1& gen g4s 1994 J - J
ill
Bo 4 3 78
4 Sa ze
/
891
10-25 year cony 9s
1932 J-D 89
2
81)1/
89'Pocah C & C joint 48_1941 J -D 894 Sale 8914 FetPu. .. .77
2
/
1091
CC& Tlet gug 58
1922 J-J 100
2
/
- 1)81
gl1;,
'
971..
11312 98 • •
Selo V & N E 1st gu g 4s 1989 31-N
forth Illinois See Chi & N W
;oak Ohio See L Erie & W
2 102. 41 99 10414
1
for Pao-Prior lien g 49-1997 Q J 10218 Sale 102/
9012 Sep'06. . 9734 102
Registered
1097 Q.J 10014
74
74 1-11 68
General lien gold 38....a2047 Q-F 74 sale 7314
71 Aug'08 .... 681
2 71
/
73
Registered
a2047 Q-F
902
4.1614Jau 0:. • 814
St Patil-.Dul Div g 49....1996 J -D
Dul Short L let gu 5s..191e AI-S ,
C B& Q eolltr 4s See Gt Nor
12234 116 Aug'0:'. • 116 117
St P & N P gen g 6s....1923 F-A
Registered certific's..1923 Q-F 121) Sale 11978 121) 14 116 120
4 J'ly'u
/
1171
St Paul & Dui 1st 5s....1931 F-A 10838
2
/
10314.1'1y'0 ... 102 1031
2
/
2.355
1917 A-0 1021
100 J'13"0 ... too ha)
let consul gold 48
19613 J -D 95
Mey'l)
93
Wash Cent 1st•Ir 43
1945 Q-M 0014
• 112 117
117 41.ug'0.Tor Pao Ter Co 1st g 69 1U33 J -J 11514
'
Tor Ey Cal See So Pao
;or Wis See C St P M & 0
Tor & Mont See Ist Y Cent
% Ind & W See C 00& St L
J'hio Riv Eat See Balt & 0
red.' Cal See SoPae Co
Ire Short Line See (In Pao
19wego & Rome S'ee N Y C
.
1011'& StP See 0& N W
10034 100 Sop '0 .... 10112 10934 !
1946 J-D
jac Coast Co 1st g 5s
: ao of Missouri See Mo Pao
103 4.'nem) • .. 102 105
'enn RR let real est g 49 1923 M-N 103
IOU Nor'° '
1910 M-9
Consel gold 5s
101 193
'
21011
/
2.
/
13"0 . 1011
1114331-N 1,11/4
Consul gout 4s
104'-, 1043 06 i00 1044
Sale
8
1093
N
M
1948
Consol gold 4s (w i)
1/779 91'
.; 9114 9834
2 118
/
971
1912 M-N
Convertible g 31-2s
1)4' 00 88
1915 J-1) 1)438 Sale 11434
9614
Convertible g 3129
99 J'ue'e
Alleg Val gen gu g 4s 1942 31-8 93
I)It RR & Bge 1st gu 49 g.'36 F-A
1.07140ct 'u, .. ,1..... ......
Phila Bel& W lot g 48 1943 31-N
luz Jan e).
Sod Bay & So 1st g 59 1929 J -J
'
11012Sep NI
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10514 A ugq)
. 10234 10571
4
/
'min Co-Guar 1st g 4129 1921 J-J 51)514
10374 J 'ly'0
1921 J.J 101
Registered
2J'ne'0
/
001
2
/
Guar 31
2s coil trust reg 1937 5-9 801
/
2J'1500 ... 8014 0.04
/
921
Guar 312s coll tr ser B. 1941 F-A 6714
97 Sep 'U
. 92'..' 07
Tr Co certif's gu g 31224 19.16 P.I.N 97
8414 87:4
8734 Sep'08.
1942 JD 8534
Gu 312s tr etre0
2
1
/
00
.
MILO()
.
93'4
2
/
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1944
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.
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.
..9
Guar 15-25 year g 4s
110 Jan '0
87
CI & Mar let gu g 4128_1935 54-N
1084 Aug'0'
01 & P gen gu g41
2sser A.'42 J -J 108%
/
Series11
1942 A-0 10714
92
2 Dec'01
/
981
1948 NI-N
Series C 312s
91
90 May 418
_ 00 00
25
/
1950 13-A
Series D 31
•
987. 99
t„
BONDS-Continue,* on -Next Page
Telegrnpli and Telephone
90 Aug'08
4
/
791
2 911
/
2 90
/
4 5 751
/
Am Telop & Tel coll tr 49 1929 3-3 9034
911
9078
77 Aug'08
234s, 1,
92%2 Sale 9175
513
Convertible 48.
2
77
93 %.339
8534 235;
2Oct '04
/
1071
6 M-I
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13
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90
83;31ar't):
102% Apr'06
191831-N
Met T & T 1st s t g39
104 .FetP0
05 Aiir'02
Mich. State Telep. let 58.1924 F-A
1)(4383'ly '0'. •-• .9214
z• i ;4
74
741
2 1'73 38; 75
/
347 43 84
93
91
West Union col Cr cur 53.1938 J -J
7334 74
III,
11095306
4,08
107% Dec'04
lid Wild real eta ;.:
2 11134 1 81.
/
2 91; 911
/
911
85
84% 6 75
107 May'417
At
Cony 4s, Series A
808 8478 5478
LW 100
10512 Dec'06
Slut Un '101 3 fund 6a. 1911 M.-N
too Aug'08
99
105 Oct'00
.1i aim lade us'alg ...V I
millal
i4 i
2416 94
/
941
78 Feb'07
Am Ag Chem Isle 5s(roia)'28 .... 0414 Sale 94
e.
94
6 84)
04
2 'i 821
/
2 991
/
2100
/
1915 Q-le
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93'-.' 1,4
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/
991
2 !2
/
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2 92
/
106
t 100 106
106
Am Hide & List s I g(39-1011.4 M-8 0 9134 Sale 011
106
2 ''..::2
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7014
71
8 581
90 10834 Amer Ice Secur deb g 69_1925 A-0 70(4
108 111. 108 Sep 428
1/1 100
102 103
102 Apr'08
Am Spirits -Big let g631(13 m-s
8 ... 83
88 •
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74 S
88
9
2 1 100 1011
/
2 1011
/
2 Am Thread 1st col Cr 44_1010 34
/
813(4 09
101 103 1011
4 70 963, 111
/
2 1081
/
9 5 80 10(11
2 97,
/
2 Am Tobacco 40-yr g 68....1044 A-0 108 Sale 1071
/
971
2 98
/
961
2 204 60 12 7i..,4/
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93'-.' Feb'01 •
74 18 Sale 7314
1931 F-A
48
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91
95
.•
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Our. 10 1908.]
New York Bona Pbaord-Concluded---- Page 4
923
tioN
BON H•••
if,SVC s
Price
Range
Price
Week's
Range
N. Y. STOCK EXCHANGE
Prickly
Range or
Since
N. Y. STOCK EXCH A NG E
.Q
riftau
Range or
Since
E .1,Oct
Oct 9
Last Sate
WERK EN0190 Ouromn 9
January .
WEEK ENDING OCTOBER 9
9
Last Sate
•-•Za,
January 1:
pen', 00_4 ontotueet
ta
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High No Low Bigo southern
Mot
Pao Co-(Continued)
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11 1)111 No how iftql
91
92 Apr'07
Erie 8.; Pats gu g 31
/
4s 13.1949 JJ
Morgan's La & T 1st 73 1918 A 0 11834
1221,3 Aug918
12112 122¼01
9854 Ain '04
Series
1940 J -J
1st gold (is
11038
110 Nor'00
Gr & I ex 1st gni g 41281941 J.J 10412 1051
/
4 108 Sep '00
......
No
of
Cal
guar g 5s
1
A-46
)j
112 FOP();
193
924
12758 Oct '02
Pitts Ft W & C 1st 7s 1912 J -J 109
Ore & Cal 1st sruar g58 1927 .1. - J 10$ 42 106 10258 Aug 08
109 103
287s
1012 J • J 109 116 119 J'nelle
So P of Ar gu bit g 6s...ol909 5...1 101.34
10158 Aug'it
9812 103 •
119 Apr'04
3(1 78
81912 A-0 10534
1st guar g 6s
10314
11)319 Sep '98
10214 ;03'.',
116 Al ay'05
Pitts Y& Ash 1st con 58.1927 NI-N 109
io Paco( Cal-6s E & F..c
A:
(
.
)
7 10219
104 15 J'ne'Os
.1
19
91.2 j
1041
/
4 104/
1
4.
109 sep (0,4
P CC& St L go 4 1.2s A...1940 A-0 10738
(1)319109
1st
gold
Os
101
L.
1141
/
4 Deo'04
......
109 Sep '08
Series B guar
1942 A-0 10738
1071
/
4109
1st con guar g 5s
1P3 .
14
(1.--2 1104
118 Mav917
.
112/
1
4.1'90,5
Series C guar
N 1081
1942
S Pacof N Mos 1st r 68..1911 J -J 10234
104 Apr'Os
101 104 •
99 Aug'08
Series D 4s guar
1045 51-N 100 42
99
99
So Pao f;'oast 1st gu 4s a.1937 J-J
91
Series E 31
91 May'08
/
4 guar g
1949 F -A
00
91
Tex&NOSabDivlst g6e.1912 M-S 103'9
107
/
1
4
......
Series F 4s guar
Feb
1953 J-0 9912
........
1)7
Con gold 5s
98 4, Apr'08
54
;
53 .JJ ..- JJJ
14
.
95'4 981
58.
/
4,
081 L & P 1st con g 5s 1932 A-0 114
116 Sep'08
fa 116
o Pac RR Ist ref 48
9514
9354 24, 87 12 95',.
Pensacola & A tl See L& Nash
southern-lst con g
10
992
565
%
8 Sa
Sal
:
i
10112 103
55 821
/
4 1031
/
4
Pee & East See C C C & St 14
Registered
041
6
6.
18
8731
Li
114
1994
J
-(1
Nov'Ot;
......
Pee & Pek Un 1st g Os..1921 0- F 106
12318Jan '05
Develop & gen 4s Ser A.1956 A-0
71
71
1 71
7632.
2(1 gold 41.2s
94% 10034 Dec'03
51921
Mob & Ohio coil tr g 4a 1938 /11-S
84 Sep *08
75
8534,
Pere Marq-Ch& W SI 58 1921 J -0
109 Apr'02
1061
Mem
/
4
Div
107
g
lat
412-5s
Sep
1996
4
'Os
J
96 107 1
Flint & PM g Os... .....1920 A-0 10719
110 Sep 08
110 110
St Lon1s div let g' 4s
8/
841
1951 ..1 -.1
/
4 84 Sep 'OS
1;9
84
1st consol gold 58
1930 M-N 103 107 105 Sep 08
105 105
Ala Con R lst g 68
108 Sep '08
1918 J•J 108%
108 108
Pt Huron Div 1st g 56 1939 A-0
9412
1001
/
4 Alay'08
.45
1001
/
4 10034
Atl & Danv 1st g 4s
06 J'ue'06
1948 J-3
Sag Tus & H 1st
g 48 1931 F-A
2d 4s
92 J'ne'Uti
Phil B & W See Penn RR
Atl & Tad let g guar 48 19
489
AT:0j 10
94
.'-1.--Li 84
Phila & Iteadmir cons 7s.1911 3D
1151
/
4 Mar'06
Col & Greenv 1st (is
111 Feb'07
1916 J -3
Philippine By 1st 30-yr at 48'37 J •J
95
9034 Sep '08
97
90
97
E T Va & Ga Div g 55 1930 J -J 1061/4
100 :Ply '19100 1001
/
4
Pitts UM & St L See Penn Co
1956 M-N 1091
/
4
Con 1st gold 5s
11 102 110 .
1091
/
4 100
Pitt Cleve & Tot See 13 & 0
E Ten reor lien g 58
104
104
1938 M-S 10212
97 105
Pitts Ft W & Ch See Penn Co
Ga Midland 1st 3s.AA? *
(321
/
4 65 Sep'0
Pitts SicKees & Y See NY Can
/
4
Ga Pao ity lst g Os
/
4 115(4
1151
Ng J •J 1151
1.06 117
Pitts Sli Jo L H 1st g 5s 1940 A-0 113
110 J'ly'08
10914 110
Knox 411; Ohio lat g 6s 1925 3- J 112 116 107 J'ly'0
107 103
1st consol gold 5s
1
1943 J -J 105
93 J'ly'97
97
*lob& Bir prior lien g 5a 1945 J -.1
11538 Ape()
Pitts & West See B cti 0
78
Mortgage
gold
45
'0
Oct
78
1945 3-J
78
78
L)
g Co gong 4s
1997 J-J
994 Sale 0914 100 107 93 100
Rich & Dan eon g 6s. .1915 J -3 1071/4
1071
/
4 Sep'
103 10712
1'ay.; Registered
1997 J -J
95 Aug'08
90
971
/
4
Deb 5s stamped
92 Pne'0
1927 A-0 11134
92
92
Jersey Cent coil g 48 1951 AO
il8
96
96
10 8d
98
Rich
73
Meek
&
75
let g 4a...1948 ii-N
75
75
Rensselaer & Sar See D & 11
971
/
4
So Car & Ga let g 56-.1919 M-N
9758 Apr'0
951
/
4 97%
Rich & Dan See South Ity
Virginia Mid ser C 68 1916 M'S
112 Oct'06
......
Rich & Meek See Southern
Dee'Oo
Series D 4-5s
1081
1921 ra:
m
/
4
Rio(Jr West See Den & 1140 Cr
1054
1003
Series E 58
113 Dec'0.'
1926
Roch & Pitts See 13 H & P
General 5s
105,
2 100
1936 M-N
101 42 105/
1
4
'
Rome Wat & Og See N Y Cent
1051
Guar stamped
/
4Sep'0
1930 "'N
105 1051
/
4
Rutland See N Y` Cent
8412
W
'07
0
Jan
&
/
4
W
961
lat
ay
gu
46
1924
F-A
Tuts & H See Pore Marq
West
N
'0
1081
(3
Sep
1st
/
4
con
68..1914
g
J -J
[0612101)19
ag
t Jo IS Or lel 1st g 4s 1947 J -J
90
9138 Sep '08
82
9134 8 & N Ala See L & N
St L & Cairo See Mob & Ohio
Birk Falls & Nor lat g 68.1939 3 (1
117 J'ly'00
St L cfb Iron Mount See Id P
'
er
105
A
May'Ob
of
St
L
lst g 41
/
43-1039 A
F:
0
A
102 105
St L K 0& N See Wabash
1111095
0
14
5
1st con gold 5s....1894-1944
/
4 Sep '0
1131
10914 1131
/
4
St L AI Br See TRRA of St L
97
Gen refund s f g 48
97
'.9719
1953 J -41
'3052 'J7'-2
St Louis & San FranciscoA-0
St
I.
Dec'Oti
M
5s.1930
Bge Ter gu g
111
219
General gold Os
1931 J. J 1181
/
4
115 J'ly OS -••• 113 115
Tex & N 0 See So Pao Co
General gold 5s
1931 J -J 100
106 Sep '08
103 1081
/
4 Tex & Pao 1st gold 58
1104 Sep '08
2000 J-D 111.
99 112,
2
St L& S b' RR cons g 4s..9.10 J • J
8919 90 Jan '08
90
90
55
Mai
80
28 gold Inc 58
92 Nov'()
Southw Div 1st g 5a 1947 A-0 921
/
4
100 May'08
100 100
3• J
La Div 13 L lst g 5s
Mae()
110
q2
19
99
111
Refunding g 4s
7712 gals 754
1951 J -J
77L 767 644 771
F-A
Min
/
4
W
M7
Nov'0
&
/
4
1061
1st
NW
gu
100
5s
'30
5-year gold notes 412_1908 J •D
138 Nor'06
Tol & 0 C 1st g 58
/
4
109',, AUg'li
1935 J -J 1091
10:3 109‘2
St L M & S;) East gu 4 1.2g1909 3.0 04
Western Div 1st g58 1935 A.0 1021
/
4
111 MS)'04
KU lCt S& Al con g 08 1928 M-N 116
113 Mar'09
111 11412
General
J
1011
-1)
gold
974 Mity'u
Os
95,
2 9s
K0FtS& N Rv ref g 4s 1930 A-0 7512 Salt 75
751
/
4 88 6834 76
Kan
& Ai lat gu g 48.-1
88 Sap'))
35 A-0 88
8990
84
8)
KC& M lt& B lat gu 05.1929 A-0
......
Tol P & W 1st gold 48
82
86
85
85
1917 J -J
7634 85
Oz'rk & Oh U 1st gu 5s F.1913 A-0
iJU
93 Sep'08
J.
93
95
J
St
871
Tol
/
L&
4
Wpr
lien
871
g
3
1925
,
28
8
SeP
80
87
$S Louts so See Illinois Cent
50-year gold 4s
A-0
'16,
78% 76
67
St 14e4 W 1st g 4s lid ctfs.1989 51-N
78'.,
9219 92
93
6 84 12 9312 Tor Ham & Buff 1st g 44.81
9(1
95 Dec'01
195
40 J -D
24 g
Me bond ctfs...p1989 J -J
78 Sale 77%
78
1.
4 135
75
lster& Del 1st con g 58 1928 J-1) 10538
107
107
1 103 10
Consol gold 4s
1932 J -D
74% Sale 74%
74% 117 56
7
1st refund g 4s
93 Sep'05
1952 A-0 78
Gray's Pt Ter let gu g 5s 1947 J -0 100
10118 Apr'07
Un Pao RR & 1 gr g 4s
/
4 103
1947 J -J 10258 103 1021
99 103
8t Paul & Dui See Nor Pacific
Registered
J
1014 J'iy'08
g21090487
98 10144
St Paul AI & Man 28 6s 1909 A-0 102%
10314 Oct'08
1021
/
4 10014
M.S
1st & ref 48 (iir i)
953
96,4
602
91.14 97
1st consol gold Os
1933 J • J 12834
1291
/
4 Sep'08
20-yr cony 4s
1264,1'291
/
4
98
1927 J.J
911 28
83
99
Registered
1933 J J 127
134 Dec9)0
Oro ity & Nay con g 48 1946 J -1)
97%
93,
91
991
/
4
Reduced to gold 41.28 1933 J -J 1081
/
4 Sale 10818 108% 14 102 Dm%
Ore Short Line 1st g 68 1922 F-A
/
4 1204
1201
1.15 122
Registered
1931 -J 10054
11618Apr'01
consul
1st
g
50
J
-J
113
113
1946
1 106 1141
Dakota ext gold ()a
/
4
1910
10578
1051
/
4
Sep'
1037810134
Guar refund 4s
06
941
/
94%
4
10211 J -DI
851
/
4 95
Mont ext 1st gold 48
1937 J
98
/
4 1394
991
5 94
Registered
9912
8754 Diar407
1929
0°
Registered
1937 J
10014 Oct '09
Utah & .51or 1st 7s
......
100 Oct '07
1909 J -J
E Minn Nor Div 1st g 481948 A-0 93 18
Gold 6s
/
4 Sep 'Uz:
1926 J -J 10712 109 1071
107/
1
41rii/
Minn Union 1st g 6s
1
4
1922 J -J 107
124 Alay'05
Uni N J RR & C Co See l'a RR
Mont C 1st gu g 68
1937 J -J 131
130 Aveiro
Utah Central See Rio Or Wes
128 130
Registered
1937 J -J
1364 May'06
Utah & North See Un Pacific
1st gu.ar gold 5s
1937 J -J 113
1111
/
4 Apr'08
Utica & 131ack 11 See N Y Cent
1
1111
/
4 111.
Will & S 11' 1st gold 5s 1939 J -1) 1171
1151
/
4
/
4 Dee900
V andalia comet g 45 .1955 F•A
93
......
941,4 Oct '07
St P do Nor Pao See Nor Pao
V era Cruz &PIstgu41
/
481.934 J -J
98 Sep'00
/RP.1b13's City See°St P tfe()
Val Ind & W See Alo .1'
Ver
8 A & A Pass 1st gu g4s 1943 J -J
8678
83%
87
Virginia Mid See South Ry
6 78
87
Fe Pres & Pli 1st g
.11.5
9744
102 Sep '07
4aV Sio outhw't 1st gu 58.2003 J -J 105 110 110 J'ly'08
99 110
E3F&NP 1st sink f g 55.1919 33
110 via '05
Wabash ist gold 58
19311 M-N 1091211012 1091
/
4 109%
102 11012
Say & West See AU Coast L
20 gold 5s
951
/
4
031
/
4
841
Scioto Val do N N .S'ee Nor & W
/
4 93
Debenture series A
F--A
J
19
939 J
9412 95''s 90 J'ne'ter
Seaboard Air Line g 45 -1950 A •0
55
50 Sep'08
43,4 601
Series B
/
4
02 J 'o
37
Coll tr refund g 5s
62
1011 M-N • 91
90 Aug'08
1st hen equip a fd g 58 192
8614 90
102 Fen't,
M--8
39
3
1j
AU-firm 30-yrlst g 48.81933 51-S
WO 102
88 Jan'07
1st lieu 50 yr g term 43 1954 J -J
9.3
Car Cent 1st con g 4s 1949 J -J
112
85 J'ly'08
85
85
lst
ref
and eirt g 4a
5919
1951i J-J
581
59
/
4
371
/
4 62
Fla Cen & Pen ist g 58 1918 .t -J
10714 Aug'Uti
net 8; Cli Ext lot g 5s 1941 J -J 103
110 110
100 Apr'un
IOU 100
1st land gr ext g 5s 1930 J -J
Des Mein Div 1st g 48-19311 J -J
97 Nov'u2
Consol gold Os
1043 J -J
1091
Om
/
4
510-V116
Div 1st g 31
83 Aug'08
80
;•3
Ga & Ala My 1st con 5801945 J -J
133
100
/
4 MaY'08
951
951
/
4
Tol & Oh Div 1st
92
2s9
g 4s..1 94
41
1A.M-0
8
90
9(J38J'ne'01
Ga Car & No 1st gu g 58 1929 J J 1112 Sale 102
..
102
St Chas Bridge 1st g 68.1908 A-0
102 102
109 Nlay'u i
Seab & Boa lut 5s
1926 J -J
971
/
4
106 Mar'07
Wab Pitts Term 1st g 48.1954 J -D
491u
49
49
41
Sher Shr & So See N K ds T
56
2d gold 48
1954 J -D
10
10
1)
10
811 Sp Oca & CI See Atl Coast
5.4 19
Warren See Del Lao do West
So Car 35 Oa See Southern
Wash Cent See Nor Pao
Southern Pacific CoWash 0& W See Southern
Gold 48(Cent Pac coil) k1949 J -I) 914 92
92
91%
20 83% 92
Wash Terml 1st gn. 319s 1945 F-A
9012 Aug'Os
901
Registered
/
4 901
/
4
1c1949 J-1)
Pue'07
84
West Maryland 1st g 48...1952 S-0 73
751
/
4 7112 '/5
Cent Pao 1st ref gu g 481941) F-A
49
'19
in %Sale
U7 14
97% 330 94
99
Gen & cony g 4s
1052 A-0 42 sate 42
42
Registered
30
47
1049 F-A
9338 j'ne'0',
W Va Cent & P 1st g 08 1911 3-3 101
106/
1
4 A-194'06
Mort guar gold 3/
1
48..k11.929 J -D
9658
86 Aug'08
80
86
West N Y& Pa 1st g 58 11):3 i J -J .11438
114
1 .4
Through St L 1st gtt 4s '34 A-0 5212
108 19 1141
/
4
921
/
4
1 88
954
Gen gold 3-48
2
1)55..
'
0112 I'ly 01
-2
1943 A-0
Gal liar & S A 1st g(34-1910 F -A 103
8718 911
/
4
10134 Aug'08
1015; 10154
Income .5s
Ftuul
43 Nov
34
Alex & Pao lat g 5s
1931 M-N
107 J au'08 •. • 107 107
West No Car ,.(e South B)Gila V G & N 1st gu g 58 1924 M-N 103
105 Aug'08
[0112105
WheePg & L E lst'g 5s 1926 A-0
104 102 J'ne9/6
ions Ed, W T 1st g 55 1933
100 107
101 Jan'08 ••
95
Wheel Div 1st gold 5s..1928 J -J
4'1)8
1st guar 55 red
115 103
1033 M-N
Aug'08
104
100
Exton & -Imp gold 5s..30 F -A
104
9814 Jan '06
El & T C 1st g 68 int gu 1937 J -J 1091
108
9614 984
/
4 Ply'08 •.•• 10919112
/
41114 1091
RR lst consol 4s----- ---349 NI-S
77
'Ut
Sep
74
Consul g Os int guar 1912 A-0 107'4
60
76
10758Nov'07
20-year equip a(55
1922 J -J
104 Oct'07
Gen gold 4s int guar 1921 A-0 93
95
9319
93
87
931
/
4 Wilkes 6:. Mast See Erie
Waco415 N W div 1st g Os'30 %11-N 1171
110 Deo'06
/
4
Wit di Sioux le Bee St P AI & hi
A & N W 1st au 5s
1941 J -J
1091
/
4 Feb'06
Wis Cent 50-yr ist gen 48 1949 J.J
8415Sale 8434
85
65 80
88
.11 Is0E1,1 A N EOUS 11051DS-4Joncluded.
Manufacturing 65 Industrial
Miscellaneous
Beth Steel lst ext sf 5s..1926 J
84
83 Sep'08
85
Adams Ex col tr g 43
85
85
1948 M-S
93
934 93
94
83
Cent Leather 20-year g 58.1925 A-0 9412 Sale 9334
96
35% 131 851
Coot
Am
/
4
W Va g 58.-1920 SI-N
99
S8
100.4.Pne'02
Consol Tobacco 50-yr g 4s.1551 F-A
731
/
4
735, lv 82
7614 13'kl'n FerryCo 1st COILS g 58'48 F-A
043t'08
41
Distil Sec Cor cony 1st g 5s.'27 A-0 68-j San. 68
69
5(9
64
St
Chic
Yard
7512
Jo
.315
col
g
58.1915
J-J
'08
100 Jan
100 100
Int Paper Co 1st con g 08 1918 F-A 1011
/
4 102 102
102
8 101 100
Det AI & Mgr incomes 1911 A.0
45
47 Apr'08
Cousol cony s t g Os
421947
1935 J -J
83
82 Sep '06
78
80
Int Mercan Marine 41
/
4s 1922 A-0
65%
06% 37 83
Int St Pump 10-yr cony.(is '13 J -J
72
97
1719 Sep
90
Navigation
99%
int
1st,
11
58
1929
F-A
85
Lackaw Steel 1st g 5s
84 Art0)8
75
86
1923 A.0 91%
941
/
4 he 1, '4)t,
84
95
Man Bohn & L gong 48 1940 31-N
Fel,'0•2
5U
NatStarch Mfg Co lst g(3s11920 M-N
85
83.2 Atg'07 -•- ......
Newp No Slop & 1) I)58(111990 J -J
96
90 Aug'08
Nat Starch Co s I deb 58 1925 .1-J
.96.. 96
70 Apr'01
N Y Dock 50-yr 1st g 4s 1951 F-A
91
92
91
91
Air Brake 1st cony (is '28 M-N
N
3 85
92
98
118
9814 13 87
993
, Providence Sec deb 48. 1957 M-N
85
Oct
'07
Republ&b 1st& coltr 58.1934 A-0 95
97
971
/
4 Sep'08 .... 9212 98% Provident Loan 800 4125.1921 II-S 87
85 Ithylni
US Leath Co filet, ,;•tis 1913 m-N 10(3/
5
86
1
4 81118 1061
/
4 1161
/
4 .... 101 107
Joseph
St
Stk
Yila 1st4128.1930 J -J
10012 Sep '05
US Realty& I cony deb glis'24 J-J • 80
......
81
81
6 6419 81
St L Tor CupplesStat'n& Prop
U S Steel Corp-( coup .81981 li-N 102 Sale 10134 1021
/
4 944 8512102',.
Co 1st g 4,
2s 5.20 year 1917 J -I)
St 10-60 yr b8.1 cog ..811)01 SI- N
1021
/
4 10214
13
1021
855
S
/
4
4
Yuba
Wat Co con g Os 1921 J -J
112 J'Iy'04
Va-Car Chem col ir 58 g 1012 A-0
......
10078 Aug'08
89 10214 Sp Val Wat Works 1st(33.190u 31-8
11312Ply'00
Westinghouse 11 & Ms I 58 '31 J •J
84/
1
4 Sals 844
85
15 67
88
U S Red & Ref 1st 8 f g 6s.1931
84
91 Sep'08
92
41-lir •
Igo price Friday; latest bid and asked this week. al)te Jan
Due b'et) d Due Apr mDaeMay g Dee J'ne h,Due J'ly p Doe Nov &Option WO+
g
i
100:-134
S
U
....
CHICAGO STOOK EXCEIANGE-Stock lecord-Daily, Weekly and Yea:HY
. STOCKS-HIGHES7' AND LOWEST SALE PRICEN
.Saiuraay
Oct. 3
azonaay
Oct. 5
Tuesaay
Oct. 6
weaneaaal/
Oct. 7
Thursday
Oct. 8
Friday
Oct. 9
i
*175 180
*212 3
*--,.. 10
39
38
20 ,
*19
Last Sale 178
Sep'08
*175 180 *170 180 *170 180
Last Sale 3
Sep'08
3
*2
3
*2
• *212 3
Sep'08
Last Sale 834
*--.. 10 *____ 10 *____. 10
3938
_
40
*38
40
3958 *38
39
Oct'08
--i;ist -Sate 19
20
*19
20
*19
20
*19
May'08
Last Sale 4
--Last Sale 18
July'07
30
30
34
*1.8
-iii- W". ;HT -ii- To'iii- W7 .-,,i - 32
Last Sate 7112 Oct'08
72
*70
72
*70
*70
72
*70
72
Last Sale 1312 Sep'08
*1214 13
*1214 13
*1214 13
'1,1214 la
Last Sale 44
Sep'08
1--- - 45 *•____ 45 a____ 45 *___ 45
Last Sale 4612 May'08
Last Sale 14
Sep'08
*:::: -Iii-*-_::: -cc:- ;ii- -16 - ;ii- 16
50
*47
Last Sole 4838 Sep'08
50
*47
*47
*47i .50
_
Last Sale 4634 Sep'08
_ *45
*45-_
.; *45 • _ *45
,
1
3034
31
3114 51
-14
i1
3038
3012
12
30
-3114
233
30
•11
291
- 9714 9712 9714 973,
9814 ' 9808 : 98,14 98751 0814 9858 9734 9814
Last Sale 28
June'08
ur
658
614
614
638 _612
65
66 .. , 6514.. 66
65
Last,Sate 152 Ang'08
158'
128 *120 127 *120
128
*4812 49
49
4812 4812
101
100 *100 101 *100
Last Sale 10
July'08
2
2
2
2
-;.212 --i- -i.212 --13- -;212 --;;- -25.8 - 21-2
1012 12
12
10
1212 11
11
11
14
10
1312 14
*48
40
50
50
49
*4712 49 *____ 4834 4814 4814 *48
Last Sale 147 May'08
118 *1
118
8 --i- -I- -;i- --Ili *1
-;i- --Ili -;I- --114
*3
Last Sale 4
Sep'08
4
*3
4
*3
4
*3
*24
*2412 25%
25
*2412 25
2434 2434 2434 2434 *2458 25
12412
12412 12412 124
124 124
12312 124
-__- --__ 123 .124
Last Sale 214
Mch'08
*Ho' iloi" *155- ifo- 105- iiSi *16 116 *109 110 *109 110
107 107
10712 108
10712 10814
106 10612 10678 107
*1043 107
132
13178 13178 13112 13112 13112 132
132
131 1321 132 132
3712 *36
3712
37 *---- 3612 *36
*---- 3612 *--.1 3612 37
Last Sale 3114 Nov'05
---- ---- --- --- ---- ---- -___ ____
Last Sale 80
Feb'06
Last Sale 41
Sep'08
---- ---- --- ---- ---- ._ -- -_-- --__
Last Sale 213 June'07
---- ---- ---- ---_ -___ __-- ---_ ____
Last Sate 20
July'08
. "0; AW W2 ;3812 W1-2 -iirs
881i
88
*87
8812 8812
11612 11612 *116
11612
873416
- 11614 11614 *116 11612 *116 11612
11614
70
*67
*66
70
65
65
68
*67
6718 69
70
*66
Oct'08
Last Sale 108
*108 109 *108 110 *108 110. *108 110
May'05
Last Sale 534
95
95
- -66.- -55- 95
-65- lig- -6-5
Sep'08
Last Sate 35
*35 -37
37
*36
37
*36
38
*35
9034 91
91
91
91
91
9014 9034 91
90
8912 90
10158 102
102 102
10134 102
10134 102
10134 10178 10178 102
Sep'08
Last Sale 125
*120 125 *118 125 *120 125 *120 125
9818 9818 9813 9818 9818 9818 9818
9818 98
9812 *08
*98
12
*14
12
*14
12
12
12
*14
12
*14
12
*14
214 258
214 238
214
214 *2
214 *2
*2
14 --;1214 *____ 14 *___ 14 *____ 14
14
*-_ 14
613 612 : 6I2
66, , 6513
65
*152 . 158 -• *152,
*122 - 130 *122,
4834
*4858 49
-_-- _-_ *99
633
634 . 633 658
65% 6538
95
66
158 *152 158 *152
125 125 *122
130
4834 4713 4712 *4834
100
99
99
100
.- ..--- ---- ___-__- -____- ----
Last Sale 3212
Last Sale 10
Last Sate 16
Last Sale 4
Jan'07
Nov'06
May'07
Nov 06
Sates
o/ the
„Week
Awes
Interen
Period
Prize
Friday
Oct. 9
Weers
Range or
Last Sale
. Lowest
Railroads
---- Chicago City Ry
100
---- Chicago & Oak Park_100
_2.'100
Do pref
-1: Chic flys part (at
foU
-- Chicago Subway
--- Chic Union Traction_100
100
Do pref
---5 Kans City fly dc Lt10U
Do pref
100
---100
- -- Metropol W S Elev
Do pref
IOU
__ North Chicago Street-100
-_
----- -- Northwestern Elev-10()
100
Do pref
---.. .io South Side Elevated 100
.
1o
Streets W Stable C L_100
100
375
Do pref
--- - West Chicago Street 100
aneous
lln
ea
tlainscc
erfic
100
1,450 Am
100
1.900
Do prer
_5
_ Ame
.0
poricp
arner,Radiator.._100
100
100
230 Amer Shipbuliding
100
10
Do pref
Amer Straw Board
100
" 'L Booth (A) & Co
100
725
Do pref
26 Cal & Chic Canal & D_100
-o Central Trust Bank_1(30
-i Chic Brew'g & Mait'g- ___
Do pref
i1 Chic Pneumatic Tool-100
37- Chicago Telephone..-100
Do rights
6
_6__
10 Chic Title de Trust___100
609 Comm on w'th- Ed ison _ 100
100
208 Diamond Match
100
.2 Illinol,/ Brick
--- Knickerbocker Ice_100
100
Do pref
------_ Masonic Temple
:-.... Milw & Chic Brewing
Do pref
-100
7393 National Biscuit
100
Do pref
48
100
3. National Carbon
100
Do pref
-Page Woy Wire Fence
-io6 People'sGasL &Coke_ _I 00
com-100
re
D s-Rpoerck
615 Scars-Roebuck
100
100
_993 Swift & Co
The Quaker Oats Co.._100
100
Do pref
-in
10 Unit Box 130 & P Co_1011
100
Do pref
620
100
15 Western Stone
Mining
Bingham Con Mining_ 50
Black Mountain
20
Daly-West
Filibbard- Elliott..
Iiighest
160. ,Jan 24 180
318
158 Feb 3
7 Mchla
10
38 Oct 3 47
15 . Feb lit 24
.212alets27
4
J'ly
Aug3
Aug38
Joe
Aug 11
May2:
30 Oct 6 40 Jan 14
68 .Sep 28 79 Jan 2()
13 J'ly 14
19 Jan 22
42 Jan 6 54 May18
44 May.-. 47 afay3•
1334 Aug (1
20 Jan 31
46 Aug 18 56 • Mayl •
42 Aug 21
71 Jan
2012 Apr 16 3112 Oct 7
85 Apr 20 103 d Oct
25 Apr 13 31 May 4
4 Feb 13
4112Jan 2
125 Jan It)
116 Apt'22
37 M61119
91 Jan '2
10 J'ly 7
112 Sep 15
812 Sep li
40 Feb 20
147 May
1 Oct 6
4 Apr 13
21 Feb 26
106 Jan 3
34 Feb 25
100 Jan 4
80 Jan 3
113 Jan '2
30 Jan 22
673 Oct 2
66 Oct '2
152 'Aug:z,
128 Sep 2
5512Jan 16
101 J'ne
42 Jan 6
30 Jan 11
100 Mayl•.51 Apr 2S
147 May 6
118 Aug22
4 Apr 12
3012 Aug
153 Sep 11
234 Feb 21
112 Aug26
10014 Oct 1
137 Aug31
39 Jan 14
l;iq hest
Lewes,
151 Mc,
134 No%
10 Oct
It • Oct
214 Dec
14 Apr
28 ! Nov
6834 Nov
17 Dec
43 Nov
3412 Apr
20 Sep
58 Apr
60 Nov
26 Oct
95 Apr
20-
205
5
16
Apr
Jan
Apr
461. Jan
614 Apr
1914 Jan
65 'Jan
87 Jan
28 Jan
72 Jan
47 J'ly
2512 Jan
66 J'iy
90 :'Jan
34 • Jan
99 May
35 •Apr.
3 Oct
34/2 Nov
120 Dec
112 Nov
0 Nov
85 Nov
30 Jan
2a Dec
90 Dec
45 Oct
165 Feb
1 Jan
5 ; Aug
21 Dec
15 Oct
714, Apr
60 Apr
140% Se()
130 Apr
8013 Jan
109 Jan
40 Mch
40 Joe
111 Feb
54 Jan
165 Feb
1 Jan
612 J'ne
51 Feb
13412, Apr
95 'Oct
77 Oct
10812 Nov
34 'Nov
11212 May
8753 Oct
12912 May
57 May
19 J'ne23 20 J'ly '24
70 Jan 3 9212 Aug 0
10134 Jan 2 120 Aug 1
51 Met' 3 7212 Aug22
01 Meh23 112 Mayli
41 Aug
212 Jan
25 Feb
5818 Oct
91 Nov
50 Nov
9734 Nov
46 Jan
213 Jan
27 alch
86 Jan
11734 Jan
8414 Jan
120 Jan
80)2 Jan 3 9712 Aug 11
24 Jan 24 40 May2t.
72 Jan 10 9212 Sep 10
8812 Jan 2 10534 Sep 1.
1144 Jan 2 134 Jail 21
87 Jan 3
J'ly 3i,
14 J'ly 17
134 Jan 4
112 J'ly 17
12 Jan 15
14 Apr 2.3
17 Apr 11
17 Nov
20 Nov
07 Nov
7512 Nov
100 Nov
85 Oct
34 Nov
o Jan
16 Dec
9258 Apr
57 Jan
95 Jan
11312 Jan
17312 May
1023i Jan
214 Apr
1234 Apr
30 Feb
3212 Jan
3212 Jan
1614 Apr
20 Jan
38
Joe 15
46
J'ly
Chicago Banks and Trust Companies
Chicago Bond. Record
BONDS
CHICAGO STOCK
EXCHANGE
1Veek touting October 0.
!canoe 707 l'retrious Yeas
(1907)
Moue Since
Jan, 1 1908
(WKS
CHICAGO STOCK
, EXCHANGE
IV ds
Sold
Range
Since
Jan. 1 19C8
NAME.
OutstandMO
Stock
*
Surplus
and
ProliLt
Dividend Record
In
1906
In
1907
Per- Last Paid
iod
8 Q-M Sept '08, 2
$2,000,000 $1,343,328
High Bankers National
8
High No, Low
Ask Low
Bid
National
An. Dec '07, 6
100,000
6
35,816
5
--, ---- ---- --- CalumetCity_
American Biscuit 6s__1910 F - A ---- ---- -,-500,000
J-J July '08, 5
Chicago
10
166,081 10
Amer Stravib'd 1st 68_1911 J - J ---- ---- 100 Me-h'07
ommercial National
3,000,000 4,351,738 12
l', Q-J Oct '08, a
9912 10-112
Cass Av as F G (St L) 5s'12 J - J ---- ---- 1C012Sep'08 __-Continental National_ 4,000,000 3,626,402
Q-J Oct '08, 21
8
8
Chic Board of Trade 4s1927 J - D--- - .. 100 May'07
6 Q-M Sept '08, 113
50,000
3,744
6
Cook Co State Savings
1
10112 10112
9478 1-112
Chicago Ctty Fly 5s___1927 P - A 810112 101
National
Exchange
3,000,000
Q-J Oct '08, 3
4,991,217
12
12
Corn
103
Apr'04
------J
J
6s____
Chic Consol Br&Mit
200,000
Q-J Oct '08, 112
58,330
6
6
Drexel State
Chic Consol'rrac 4 W-1939 J - D ---- ---- 55 Aug'07
600,000
Q-J Oct '08, 212
380,606
8
8
Drovers Dep NationalChic Auditorium 1st 5s1929 F - A ------ 9634Jan'06
'200,000
Q-J Oct '08, 112
38,956
6
3
Englewood State
Chic Dock Co 1st 43_1929 A - 0
8,000,000
Sept '08, 3
National
8,071,029
12
Q-M
12
Feb'06
-37
.
First
Chic No Shore Eiec 68_1912 A - 0 ------- )
150,000
170,206 10+10 10 Q-M Sept '08, 212
First Nat Engiewood
Chic & Mil Elec Fly 5s-1910 J - J
Co1,000,000
'
0
2
1
/
B'k'
nk
511,998
I3ros
Ba
ate
Priv
Foreman
Tool
Chic Pneum
432,166
Q-J Oct '08, 2
8
6
7112 7212Sep'08 --Fort Dearborn National- 1,000,000
68
75
a1921 J - J 870
1st 5s
500,000
5 . J-J July '08, 215
158,125
1958 9934
Hamilton National
9514 102
4
_1927 P - A 9934 Sale
Chic Fly 5s
1,500.000
Assn
Oct '08, 2
9114
90
40
B'k'g
9438,677
8Q-J
8
Sale
808
Hibernian
9034
90
"A"
Chic Bps 4-5s series
200,000
110,951 10
78 8278 Kaspar State Bank
8112 82
63
J-J July '08,•5
10
8112 Sale
Chic flys 4-5s series "B"
402,696 _
82
Q-M „opt '08, 21:
16
82
75
8214 Live Stock Exchange Nat 1,250.000
8 824 Sale
Chic Rys 4-58 series "C"
300,000
0)-1, Aug '08, 1
4
58,719
31003 Sale 10058 10034 13 (0734 101
Monroe National
Chic Rys coil 438_..1913
250,000
4% Jan Jan '08, 41;
90,1841__
_
Chic R I &P RR 4s-2002 Fl- N ----- ---- 79 Nov'04 -_ ____ ___ Mutual Bank
2,000,000 1,285,034 - 6
0)-.1 Oct '08, 2
80 Ape();
Nat Bank of Republic
8
Coliat Trust g 58._1913 M - S --- --_
1,500,000
489,0460)-.1 Oct '08, 11!
National City
CommonWalth-Edison250,000
59,866 Began husine as
__ 100 June'08 _-- 100 1001. National Produce
Aug 26 1901
Chic Edison deb 631913 J - J
10012 1001.
Q-J Oct '08. 114
200,000
2
65,556
97 1(105, North Avenue State
100%
100_July 1926 A - 0 8100
1st g 58
'08, 11:
Savings
50,000
Oct
State
993,
9834
Q-J
9953
9,540
3
Side
995.
North
5
6
100
6
_1926 51 - S j 9912
_Debenture53100,000
'7
39,807
93 102
Q-J Oct '08, 11:
Oakland National
Commonw Elect-58b1943 NI - S 102 :J., 10134 1(12
250.000
_ Prairie National
___
(3..
83,789 __.
Illinois Tunnel Ss_ __1928 J - D -------- 00 Dec'06 -....500.000
93 153 Pralrle State
8 Q-M Sept '08, 2
63,197 538
6- 1913 M - N __ __ --- 95 July'08 --Kan City Ry&LtCo5s
_ _ Jan '08, 2
250,000
4
854 921: Railway Exchange
9,822 _ _
9012Aug'OS -Knick'b'ker Ice 1st 58-1928 A - 0 __-- ____
Oct 12 1906
300,000
122,261 0881: Security
rgan ized
80
Lako St 51-1st 5s___1928 J - j -------- 85 May'08 ---__
Savings
-___
Chicago
Q-J Oct '08. 112
6
May'05
16
200,000
79,011
......South
53
1925 Feb ---Incomp5s
State Bank of Chicago
1,000,000 1,313,700
9+1 Q-J Oct '08,3
8
Itletr W Side El801 881 Stock Yards Savings
2
J-D Poe '08. 3
81
6
250,000
6
164,101
Sale 81
1938 If - A 881
1st 4s
6 SI-N May '08. 3
42,886
6
7512 85
Union Bank ot Chlcago
7634 Oct'08 ---200,000
78
1938 J - J 761
Extension g 4s
Q-J Oct '08, 115
200,000
6
6
02,790
North Chic St 1st 5s 1909 J - .) ---- ----90 Dec'06 -_ __ Union Stock Yards State
Q-J Oct '08, 2
8
8
American Trust Savgs- 3,000,000 2,575,820
1st 5s
______ Central Trust Co of Ill_ 2,000,000 1,010,953
(3-.1 Oct '08, 134
7
'7
Refunding g 4358_1931 A - () ---- ____
112,841 ____
n500,000
___ Q-J Oct '08, 11;
75 Feb.07
Chicago Say 13k & Tr
No Chic CityRy4;481927 M - N ____ _ _
Q-3 Oct '08. 111
5,000,000 *1,428,335
6
6
WI: Chicago TItie as Trust
8.6
4
9334 8634
North West El 1st 4s 1911 M - S 28634 81
6,960
3
50,000
8014 93
3 A -0 Oct '08, 2
Citizens Trust & Savings
90 Oct'08 --1945 M - N 1....-- 90
Ogden Gas Is
600,000
502,984 10
99
119
Q-J Oct '08, 212
10
,--90 Aug'0'
Colonial Trust & Savings
___
1916 J - D 99
Pearsons-Taft Is
200,000
95,269
95
(1
94
Q-J Oct '08. 2
6
Drovers Trust & Savings
94 Sep'08 ---____
11- S 94
4.408
Apr. 13 1907
1,500,000
148,206 Organ [zed
06
96
Farwell Trust Co
96 Aug'08 ---M - N 96 -__
4.60s Series E
2,000,000 1,978,111
9712 971: First Trust & Savings
9712 Sep'08 ---'1
M-N
4.80s Series F
650,140
Q-J Oct '08, 2
Harris Trust 45s Savings- 1,250,000
-- 117 Sep'08 ---- 10912 117
Peo Gas L&C 1st 6s-_1943 A - 0 ---- ---q Sept '08, 4
94 102
Illinois Trust & Savings_ 5,000,000 8,351,149 11+4 11+-4
10153Sep'08 ---Refunding g 5s___1947 M - S -., 102
Q-.1 Oct '08, 111
200,000
6
44,166
9712 1033: Kenwood Trust & Savgs
10234 Sep'08 --elate Gas L&C 1st Is 1937 J - J ____ 103
Q-.) Oct '013. 114
200,000
0434 101
2
36,063 _--___
Lake View Trust & Savgs
-_-_ 1(0)12Sep'08 ---Consum Gas 1st 58_1936 J - D 100
Q-J Oct '08, 3
98 100
12
Merchants' Loan & Tr Co 3,000,000 4,809,548 12Mut'l Fuel Gas 1st5s1947 al - N 8 9978 --- 100 Sep'08 ---9214
Q-J Oct '08. 111
750,000
Metropolitan Trust & Say
6
254,104
6
9214 921. 10
9214 Sale
South Side Eiev 430_1924 J - J
Q-J Oct '08, 2
8
1,500,000 1,861,871
93 1003 Northern Trust Co
1
8
1st g 58_,1914 J - J 810014_ _ 10038 10038
J-J July '08. 3
_6
Savgs
200,000
90
48,424 _
110
Northwest Trust &
90 Feb'08 ---Union El (Loop) 58-1045 A - 0
-0J-J July '08, 3
6
200,000
_ People's Trust & Sayings
6
82,048
Union Pacific cony 48_1911 M - N ---__-- -----114 Nov'04 ---- ---Q-J Oct '08, 2
18
8
182,528
47 18
47 Ausel). --Pullman Trust & Savings 1500,000
United Box Board col 63'36
47
0)-1,Aug '08. 2
8
500,000
499,811
8
00 May'07 ---- ---- __ Royal Trust Co
West Chic St 1st 53_1928 M - N_
08. 21:
J-J July'
200,000
5
Stockmen's Trust & Say_
17,397......------- 6812 Sep'05
Tunnel 1st Is
1909 F - A ..____ Q-M Sept '08. 2
1,000,000 1,101,066 ..__
Union Trust Co
Debenture 63
1914 J D73June'07
Q-J Oct '08. 111
8
7212 8014 Western Trust & Savings 1,000,000
216,706 6+1
1936 M - N ---- ----8014 Jae'08 .......
Consul g 53 rcts_
Sept 5 1901
87 Dec'06
200,000
46,165 Began bustne as
West Side Tr & Say Bank
Was DivCityfly 41581932 .1 - J __ ____
Q-J Oct '08, 11;
6
6
8512 Jiv'08 -29,388
70 -8-51^ Woodlawn Tr&Sav Bank
200,000
Western Stone Co 58_1909 A - 0____ _ _
hon 0 Prices Note.-Accrued Interest must henridedio all Chicago -* Bid and asked Prices no sales were made on this day. 1 Sept. 23 for national banks and Sept. 24 for State Institutions. 2 No pr co Friday:
latest price this week. a Due Dec. 31. 5 Due June. a Includes special dividend of 30% paid Dec. 18 1906. 1 Capital increased from $300,000,
a stuck dividend of 33 1-3% being declared In part payment therefor. n Capital and surplus to be Increased. q Dividends are paid Q-J. with extra
payment3 Q-F. V As IA date July 15 1908. 5 As of date Sept. 11908.
&
F3 A475ii ........
swtrt & co
pm;
OCT. 10 190s.t
THE CHRONICLE
925
of Business at,Stock Excriauges
Electric Companies
Inclustria, and Misce
tita Ask
btu
Ask
Chicago Edison Co See Cli cagu list
Colisol Car '11 eaLlng.7 _1Ut 20
2712
e Kings Co 151 L&PCo 100 12s, 129 Loas Hy Lgt&ttetr
ig_lut•
212
TRANSAMONs Al"FHE NEW YORK sloCli EXCHANGE
Narragan(Prov) El Co_50 *87
92 Consob ituuber Tire-luu
6
DAILY, WEEKLY AN!) 'YEARLY.
NY &Q i0i L &PowC5.710
40
Preferred '__•_
45 •
_lot
211
2712
Preferred
100 05 ,72
Deb5n tune Os 1-115-1Adcl, 3$ . 40
United Elee of N
, Cons Steamship Lines 10,
lie. 7e.
Stocks.
Railroad.
1st g 48 1949
J-1) 416
ed
coil ti 4s 1157 I'M; J it.
Week endino
11
114
&c..
State
U.S
Corn Prod Ref See stoc. Ex5.3 1st
Oct. 9 1908.
Shares.
Ferry Companies
Par mine.
Bonds.
Bonds.
Bonds.
eCrucible steel
lot
t18
Brooklyn Ferry stock 100
12
• 51;
ePrelerre
Saturday
10, A 112 -417s
465,945 $42,645,000 $2,114,000
$26.0001
B & NY 1st Cis 1911J•J 492 .05 Ct.mberiimuu Ely Cupp5r
3 5,38 758
Monday
929,1350 85,000,000
3,463,500
74,500,
N Y & 15 It Ferry stk.10u 40
tO
elliamond Match Co-105 132 153
Tuesday
738,309 66,453,400
3,874.000
61,000:
1st
55
1922
M-N
40
60
Dorninioa Copper
Wednesday
It.
789,763 72,825,300
3,285,500
163,000'
N Y & Hob 5s .lay 46 3-1) 490
53
Douglas Copper
Thursday
..
721,787 63.866,200
3,120,500
312
47,0001
Hob toy 1st Is 1114651-15 1103
Ecou'y Lt & P (Joliet, 116
Friday
812.453 73,248,300
;
3,278,500
178,500
N Y 54 N J 5s 11146....--J-J 190 7' -1st M s 1 g Is 19.56-.1-1. . 021
5
10th .5c 23d Sts Ferry_10u
20 "41; Total
105
4,457,907 $404,038,200 $19,136,000
20
25
$550,000
-----1st mtge Is 1519 J-1) 550
60
r;lePeretrileerreBdoat
10, 5.5, 65
eUnion Perry stock_100 20
21 Electric Vehicle
lo, --43
Sales at
elat Is 1920
Week ending Oct. 9.
31-N 80
90
err
Jan. 1 to Oct. 9.
stee
d
'
i
5
New Y orx Stoat
Empire
Short-Ter
m
Notes
Exchange:
1908.
1501.
Prelerreo -_-.....iti
1508.
1907.
°u,
u'
7'
Am Gig ser A 45 '11_51,-5, 10534 9615 5Federal sugar
(31N
Se.'
Y
Stocks-No. shares..__
Ser B 4s &Ica 15 12M 2. 49415 5434 eGeneral Chemical_105
4,457,907
3,061,955
161,597.861
140,794,701
Par value
$404,038,200 $277,991,250 $12,161,430,575 $13,970,395,025 tuxier LIghL & ir 6s-See Gas Sec
ePreterred _____•_..rlut
Bank shares, par
$1,000
$54,300
$110,200
$290.800 Am Tel & Tel g Is 10 J-J 110014 1,515 Goitillelci Consul alines,11
Bonds .
Atlan Coast L. Is '10_51-S 499,i 103018 Gold 11111Copper .
•
• 1
Government bonds
Bait
&
1005
Oulo
4
1009_51-S
Is
Greene Cananea
510438
$5,500
$467,620
$570,800
'2i,
State bondS
$550,000
Greene Consul Gold....it
1,698,500
71.180,000
47,850,300 Ches &Ohio 6s .114,1 '10J-J 41013., 102
RR.and mlae. bonds
Clue
R
1
&
Pac
19,136,000
63
Greene
'09A-0
.007s
110012
6,965,500
tiold-Silv
646,922,200
293,863,900
er
15
Chic & W Ind 5s 10.,F&A 41004 10012 Guggenhein Expior' lot
17518
Total bonds
$19.686,0001 $8,669,500
54
130 etiackensack Water Co
$718,569,8201
$342,285,000 Un Ham&D4;is 'US M-5.•
C C C & St L Is. June 'II 11.0014
_..
103
.
.
0,12
.
88
84
Consol Gas os 150u- _F-A
Hall Signal
DAILY TRANSACTIONS AT THE BOSTON ANL) PHILADELPHIA
ig
gn
4a
52
51'C
.5oP
lue
38
Erie 6s, Apr 8 1911 A-0
Havana 1 obacco Lo_luu 33
EXCHANGES.
7
9
Interb It 1 g 68 1911 M-N 511/1-- 50155
Prelerreti
100
20
Is Mch 1910
1st g 53 June 1 22-J-i, 17
Mb 595,4
55
Kan C So g 55 Apr 12-J-J 49615 9934
kiecker-Jones-Jewell 5111. 50
VS
Boston.
PhUadeiphia.
Lack Steel g 55 111013-M-s 45612 9712
1st tis 1922
Week ending
31-5 100
58 g 1910
Oct. 9 1908.
M'S 492
5312 tiet'g-lia11-Mu, new _luu 35
Listed Utuisted
Bond
Untisied
Listed
Bond
45
Lake Sh & Id So 55'10 F A )10034 101
Hoboken
Land & Imp lot
shares. shares.
sates,
shares.
shares.
:eta.
Lou it Nash g Is 'l0-MS 510012 10034
e5s 1910
r 5 M-N si/iS
Ilex
Cent Is
Houstou Olt
1 11)1t. 59552 100
Saturday
luu
23,621
6,882
$84,500
9,313
5
$72,100 Mich Cent Is July
3,388
-fPreferred
Monday
F-A 410034 101
luu 110
36,191
12,500
11,499
67,500
6,753
128,300 Minn it St L g1111.0530
Is '11-F-A 595,2 9712 Hudson Realty
Tuesday
luu IOU 110
22,243
9,531
49,„10
11,841
3,537
103,600 Missouri PacificeIngersell.Rand corn.1uu
Wednesday
35,444
7,439
24,500
13,231
/0
8,928
88,200
talFeblu'l 0 e5nvopF-A
ePrelerred
Thursday
99
luu 90
27,444
I 97
14,615
161,000
15,605
11,204
26,500 NatufMex 55 ext
lnuanat'l Bank'g Co_105 90
rein) AU
Friday
16,834
28,157
161,000
15,503
7,779
21,000 N Y Cent 513 1910
"ii"
-___F-A 51-034 -tor Int'ial Men Mar See stk
6
Esc ilst
N Y C Lines Eqp
Total
5_173.100, 65,801
% Internael N ickel_ _ _ _ luu
548,000
72,689
45,890 $439,700 • Y N it & 11 5'1u.1 5458%
1.5
Prelerred
'08-'1L 4100
luu 83 ";i"
Sort & West as 1010M-N 1100s 10175
1st g as 11332.7-__A&U
5312 85,2
Pa RR 5s Mch 15 '10 111-S 1101 Lou78 international
2s4ett
lo
13
15
SLLMS'east 4 55s '09_J-1) )9412 1031.8
5611
1st g 5s, 11/51
A-5 45
53
st L&SPg 43-55 '08.1-15
15018 Internat'l Sliver
lot
5997
5
7
10
A weekly review of the Outside Market will be found on a preceding page. South's' coil tr 58 1315.,A-0 596
Preferred
U5
lot 55
58
South Ry g 58 1911)- t--A 45612 8312
1st (is 1948
J-D
106
S5utntrn Icy 6. 1,11.51-5,
LaCitaWall1121 steel.-luu 4104
Street Railways
Bid Ask
Street Railways
33
35
But Ask Tidewater 65, 1,13, guar
Langton
i
o
8
12
monutype
1
u
S10812
___Zu *11
New York C'ity
Pub Serv Corp N J (Con)
1112
U S Rubber g Is 119_M55578 1504 Lawyers' Mtge Co
loii
Mee& St & Ful Fste..10U
18
24
J C Hob & PatersonWabash Is, May 10 1909 494
56 eLen et Wilkes-8 Coal 50 1102 205
e 1st mtge. 48 1050-J-J 63
73
105
4s is 1949
M- N 470
7114 Westingh El&M 68 1910 494
Lord
&
1
aylor
95
luu 155) 135
e B'y & 7th Ave stk__010 110 128
So J Gas El&'Frac _100 118 120
Preferreu
luu 97 100
old mtge Is 1914__J93 Lou
Railroad
Go g Is 1953
M-S 494
95
eLorIllartVtP) . pref_luu 125
Con 5s1943 SceStoch Exe list
. 135
No Bud Co Ry6s'14 J-J 4107 -- Chic Peo & St L pref-10()
Madison
Sq
Gan:len10u
B'way Surf 1st Is go 1924 1)8 102
11) , 20
Is 1928
J -J 4105
Deposited stock
2t1 63 1915
161...04
e Cent') Crosst'n stk
U0 130
55
86
Ext Is 11324_ 5 _51-N
Undeposited stock
90 101
eManhat Beach Co...515u n 70
5
5
2
e 1st mtge 65 19225M-ls 95 110
Pat City con Gs '31 -J-D 1116 7.-Prior lieu g4 552530ivi&S 85
slanlaattan 1 ransit__25
e Cen Pk N do E It stk 1013 50 IOU
41544
20 68_1914 opt A-0 4100
17
Con
nitg
555
q
55
slitenell
11130..J &J
Mining
48
lo A
e Chr't'r dc 10th St stk
4
SO 120
14
So Side El (Chic) See Ch icago list
Income Is, July 1530_
aionunganeia. it Coal 5u
10
Col & 9th Ave 5s See Stoc., Exc list
458 518
Syracuse R T Is '46_51 Job 101 103 Chic Subway
Preterred
10;
5.
1812 2)
Dry D H B & B*2512
Frent P & 1-1 Is 113437-1-ll 495 luu
2578
it
&
W
Den
Mortgage
Cy std_lf)u 90 100
Bond Co_luu
e 1st gold Is 11)-1) 90
96
Ph)
United Rya of St LNat Bye oi MexicoNat Basle of Cul)a..__luu 93
e Scrip 551914------A 30
95 100
56
Corn vot tr ctfs
100 1834 1912
Pri lien 455s'57(w I)J-3 491
luv 135
93 Nauonal Surety
Eighth Avenue stock_100 200 270
e Preferred
100 6034 6112
Gell 51 4s 1977 (W1) A-t)
Nevada Cons'd Copper...)
55
484
e Scrip 6s 1914____F-A 95 105
Gen 4s 1934__See Stock Esc list
North'n Securities Stubs_ 1125 13712 Sev-U tab Min & sia-lu *1534 16
e 42d & Gr St loy silt _100 215 265
5215 3
On% tRys San Fran See Stk Lac list
Pi tts Bess & L
50 *52
35 eDiew Central Coal.___2u 25
42d St It & St N Ave..105 30
Wash By & El Co
100 34
60
35
Preferred
N J Ter Dock & Imp_luu
so *60
e 1st mtge 65 191()_M-S 195
l'referred
98
100 52
eltallroad Securities Co84
S Y Air Waite u5 see Jteli
2d income 6s 11115_J-J
Sic list
40
4s 1951
60
J-1) 8012 5212
ill C stk tr cfs ser A '52 83 52
N
Y
Biscuit
Os 11311_115-s 100
Inter-Met-See Stk Each ange list
Seaboard CompanyeNew Ions Dock
Iuu
Lex Av &Pav L5 55 See SO{ Exc list
29 If"
Uas Securities
1st prelerred
ePrelerred
100 3012 33
IOU
Metropol St lit-See Stk Lac 11st
Coin &
prei-See
N
Y
Mtge
Bait Exc list
a Securl ty_luu fi;" 73
is
Ninth Avenue stock_luu 110 150
New York
8eaboard Air LineN Y TrausportatIon_zu 43 193
Second Avenue stock _100 45
92
Cent UnGas Is g '27-J&J 99 101
4
Coll Is ext May '11 MS 90
Alles-Bein-Pond coin_105
92
e 1st in tge Is 1909_ M-15. 93
1,0 100
Con Gas tN Y)-See Stk Lie list
WI
Union Pacific 48 See Stk Each
Nipissing
Mines
a
Consol Is 1048____F-A 50
5818 814
8a e Mutual Gas
100 142 155
etintarlo Silvei
luu
•Sixth Avenue stock-100 113 130
industria
4
New Amsterdam Gasl and Miscel
412
Otis Elevator com-luo
Sou Boulev Is 1945--J-J 460
1st consul Is 1948-J-J 101 102
55
38
42
Adams Eat) g 45 1947 J-L 59312
Preterred
lUu 90
9414
So Per 1st Is 1919___A-0 490 100
NY deERGas 1st 5s'44 J-J 100 1,5
93
Ahmeek Mining
Pkttsburg
"3
Brewing
n
_50
110
.1115
Third Avenue-See Stock Lae list
Consol Is 1945
51858 1914
J-J
Alliance Realty
00
100 105 115
95
Preferred
5u
Tarry W P & M 55 1925 $70
N Y & Richmond Gas 100 35
90
3858
Allis-Chalmers Co 1st intg
Pittsburg!' Coal_See Stu *38
38
YeersStRit5s 1946 A-0 175
Nor Un 1st Is 11.127__M-7\ 90
Esc Ilst
55
5 1 Is 36 opt '16
95
Pope
Mauulact
J-J
uring_lu
u
47512
76
28th & 29th Sts 1st 55 '96
e
50
Standard Gas coin 100
10
14
American Book
100
75
1st
preferred
luu
190
150
e Twenty-Third St stk 100 250 325
e Preferred
100 n 70 100
30
American Brass
100 105 112
2(1 prelerred
luu
Union Ity 1st Is 1942 P-A 456
1st 55 1930
130
1
3
M-N 4100 104
American Cidcle coin.11)u 195 205
Pratt & Wilan pref_lou
Westchest 1st Is '43 J-J 465
80
Other Cities
Preferred
Realty Assoc (13klyn) lo5 95 102,2
10
92
Brooklyn
Amer Light & Tract-10u 111 113
130 135
Am Graphophone comIOU
2212 Royal Bak Powd cum luu 140 150
Atlan Ave Is 113139-A-0 517 100
Preferred
100 62
Preferred
94
.1013
lu. 102 103
45
Cot
Con 5s g 1931
98
A-0 592
Le g 6% notes_A-0 110 115
Amer Lisa dware
1
2
-100
1
Safety
Lt-lUu
Car
Heat
&
110
Bay State Gas
B 1.3 & W E 5s 1933-A-0 100 102
112 114
15,
50
13, AniMalting Cis 1914-J-0
Seneca Alining
25
Brooklyn City stuck __ill 1135 195
Binglet'n (N Y) Gas Wks
65
Amer Piess Assoc'n_1(1() 100 "E555- Singer Mfg Co
Coil Is-See Stk Exch Esc list
1.01) 440
1st g Is 1:338___A&O 93 100
Am Soda Fount con.L.luu 91)
Standard
lou
Cordage
78 60
Ben ligts 1st 58 1941 A 0 104 _
Brooklyn Union Gas deb
114
1st preferred
1011 1011.-11st Al g Is '51 red_A-ti
Blau Q Co & Sub See Stk Exc Hsi
teis 1909 See Stk Ex(3n fist
'2d 'Referred
100
Adjust M Is Apr 111131 225
258 2612
13klyn Rap Tran-See Sas Lac list
Bullalo City Gas stock100
278
e Am St Found OCW. lot. 29" 2 Standard Coupler comluu
4
5
30
e Coney 1st & Belyn__100 id
'JO
1st Is 11147-See Stock Exc list
30
35
Os 1.45
Preferred
1 96
100 100 110
98
1st cons g 4s 1945_50-71 70
80 Con Gas of N J Is 367J-J 485
Bob 43 1923 (w1)..F&A 460
90
62 Standard Milling Co-111.UL: 1012 1112
Brie C & N 58 19395J-J 90 100 Consumers' L 11 & PowAmerican Surety
50
P
relerred
I uu 41
1.9 195
Gent&LorSt 18t 66.51&N
55 1935
i-ll 498
42
American Thread prof_ -5
1st Is 1531)
434
Kings C El 4s-See Stock Exc list
Elizabeth Gas Lt Co 100 275
85
Am Tobacco Co corn..
_
350 Standard 011 of N J__100 1620 4 629
Nassau Elec pref-___100
Essex & Hudson Gas_10u 121 1-23
Amer Ty pefders com _1 00 33u
swift
dc
Co-See
Bost sta
36
38
Is 1944
Gas & El Bergen Co 100 55
A-0 -9-8- 7
Preferred
69
100 94
1st Is 1910-11)14...-J-J Esc list
98
1st 46 1951-See Stock Esc list e Gr Rap G 1st 55 15-F-A 07
1
Amer Writing Paper_1011
WU
112 212 eTexas& Pacific CoaLlOu:
N W'bg&Plat 1st ex 4 54s 101
Hudson Co Gas
100 109 11,
75 113-5;- .
Preferred
IOU
fltle
Ins
of
Co
N Y __WU 105
17
20
Steinway 1st 6s 11122-J-.1 4100 11;11 In4
ds
lat
(T
v.Lit
.f Co (w. --1
1st
s
15
1 g 5s 19 op't15-J-J 85
18
86' fonopark 551n (Nevada)_1 *6:58 67g
other Cities
Barney & Smith Car_100 40
15
60
l'ren tun Potteries coinlOu
Buffalo Street Ry00
Indianapolis Gas
4
50 30
8
Preferred
40
100
Preferred
. new
100 50
115 133
let conso Is 1931 F-A 41002 Rai:
1st g 5s 11)52
A-0 4333
55
Beth' Steel Corp -See S tie Ex:
90
1115 30
lleb lis 1917
3
1s
3t12 frow Dircaory
A-0 110312 10C
Jackson Gas Is g '37-A-0 §91
40
Bliss Company com- 50 115 120
90
Union
Typewrit
comlliu
er
Columbus (0) St Ity_100
98
Kansas City Gas
54
100
57
Preferred
50 115 120
1st preferreu
luu 107
Preferred
100 10212 105 e Laclede Ga
100 -7412 14;- Bond & Mtge Guar_ _100 350
10812
20 preterred
lou
Colum lty con Is-SeePh in list
e Preferred
100 75 95
Borden's Cond 5111k-100 130 310
United 13k Note Corp-3u 102 104
Crosst'wn 1st 55'33 .1-15 40.0 103
Madison Gas 85 1926-A-0 4103 198
. *55
90
Preferred
Preferred
So
100 104
eConn fly & Ltgcom-105 65
Newark Gas 6s 1944 Q-J 4127 129
u *52
66
55
British Cot Copper
5518 612 eUnIted Cigar 2.1.fg.pt-100
ePreferred
50
74
100 72
Newark Consol Gas 100 253
15
Coalition
Butte
Milling
15
90
lou
*24
2414
Grand Rar5ds Ry
100 90 60
e Con g Is 1948
1012
J-D 510512 10412 Casein Co of Am corn..
11°PiterelerCreorer
412 3
100 -5_ 11
Preferred
100 70
No Hudson L 11 & Pow78
Preferred
60
100 50
U S Casualty
1(10
e Louisv St 5s 11330__JacJ 4 105 107
Is 1935
Zar
A-0 195
Casualty
Co
Amer-10
of
0
U
S
Envelope
com-10
120
0
130
Lynn & 1305 1st 5s '24 J- 415012 102 Pat & Pas Gas& Elee-100
26
75 7E" Celluloid Co
100 125 130
ePreferred
-10u 93
Now On Rys & Lgt-100
e Con g Is 1949
M
97 ,
1234 1315
5101 1.212 Cent Fireworks com-100
U
SSteel
Corporati
on
8
15
c Preferred
100 30
302 St Joseph Gas 58 1937-J-J 485
Preferred
90
100 45
Col tr 5 1 53 '51 opt '11
60
Gen Mg 4 34s '35 See S Ur Es list
5112
113
Central
Foundry
IOU
Col tr s f Is '51 not opt
Telegr Cc Telephone
112 212
North Chic Street See Ch icagu list
113
Preferred
100 10
U S Tit Gu & Indern-100 5111
14
Pub Serv Corp of N J .100 75
80 eAmer Teleg & Cable_100 68
50
60
Deb Cis 1919 op '01 M-N
72
66 eUtah Copper Co-See Ste Exc ilit5
65
Tr etis 2% to 6 5Operpet 6512 70 eCentral dc So Amer..100 104
Century
Realty
110
100
Waterbury Co. com 100 5555
Coll Is g notes 09-51-N 45614 5634 Cornin'l fin Tel (N Y)_25
Chesebrougn Mfg Co-IOU 18°1°0
10(3
450
0
Preferred
45
50
0
North Jersey st ay 10u
100
30
Emp & Bay State Tel 100 50 -jti" City Investing Co
1(10
Westchester & Bronx lit
1st 45 1948_5-.51-N 16912 -71
- -- Franklin
100 40
50 eClailin (H B), corn _100 90 10)
& Mtge Guar
Cons Tract of N
100 :
•1
.
1-50
.
66
.....,
68 eGold & Stock Teleg _100 95 100
elst preferreo
100 90 95
Western Ice
ls Is 1033
J-ll 510312 10412 Hudson River 'releph 100 37
100
41)
eZd preferred..._100 92
New'kPasIty 58 '30 J-J 1106 10712 eN Y & N J Teleph _100
9112 Westingh Air Brake._50 u - iii
110
75
West El & Mfg 5s-See St Exc Ilst
Rapid '5ran St Ety _100 235 295 eNurthwestern Teleg_50 95 117 Col & Hock Coal& I p1100 65
105
let g Is 1017
J-J 82
90
White Knob Mln
1st Is 1921
A-0 106
10
sis
1‘.
Pacific & Atlantic
25 55
65
Col tr 6s Oct 1956-_J-J 4 95 10112
Preferred
Southern & Atlantle_25 85
3;19
Worthing Porno nref-100
10 1072 108%
* Per share. 1 Buyer pays accrued hit. a Ex-rights. I Basle.
c Sells on Stk. Ex., but not very active. I Now stock.
n Nona. s Sale price. s
VOIUD916
Tr_
Outside Securities
r
UbTON STOOK EXCHANGE-Stock Record, Daily,'Weekly and Yearly
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
Oct 3
Mon lay
Oct 5
Tuesday
Oct 6
Wednesday
Oct 7
Thursday
Oct 8
Sales
Friday
Oct 9
ol the
Week
Shares
Range Since
Jan. 1 1908
S'I OC KS
BOSTON STOCK
EXCHANGE.
Lowest
Highest
I
lLange lco 'urue:it,nous Fear
Lowest
1115/lest
ilroads
8014Ra
67I2Nov 10712 Jan.!
875
5 Atch Top & Santa Fe_l00 6758 Feb 11 9112 Aug31
875
88
83
89
89
8934 8914
7934 No% 10138 Jan 1
81,7s 891s 89
100 8312 Mch 3 9534 Sep 4
9578
------6 Do pref.
*9478
9618
----*9518
9512
*9412
8
957
8
*947
95
95
180 Dec 240 Feb
Aug26
219
2
Jan
18112
100
21512
216
217
Albany-de
5____
217
105
Boston
217
217
217
217 217
*____ 217
100 125 Feb 17 140 Jan 21, 11734 Nov1 152 Jan!
922 Boston Elevated
133 13312 13334 13334 13812 13312 13334 13334 13334 134
Jan 1
3
'133
100 20014 Feb 11 213 Sep 23 200 J'nt 231 Mar
_ _ 212
212
4 Boston & Lowell
___ *212 _.,
___ *212
___ *212
*212 ------*212
100 129 Oct 8 140 Jan 28 129 Nov 170 Jan 1
4
124
1243
12412
&
Maine
124
1.760
Boston
12412 125
12434 125
12112 125
165
12434 125
Oct
150
22
Jan
13
156
Feb
136
100
Sep'08
Last Sale 149
Do pref
301 Feb
-_-_!(). Boston & Providence_100 284 Jan 10 300 J'nels 283 Oct
_
295
15 Feb;
*-_-_-_-.: 366- *-_-_-__-... i(16- *-_-_-_-_ iiiii- i55- 25i-- 295
8 J'ly
9 Melt 4 13 Mch24
Last Sale 10-- Se-p'08
Boston Suburban El Cos_
1012
101- *8
101. *8
65 Jan
*8 ' 1012 *8
Aug
51)
lit
May
56
Jan
Oct'08
Last Sate 56
-, Do pref_
54 *____ 56
_
_ 56 *„_
*_ _ _ „ , 56
2834 Jan
16 Nov
17 Jan 26
1
5
27
Oct
3
Feb}
4
0
6935
4
&
Cos..Elec
Wor
10
a____
10
-45
Boston
*____
10
*____
10
10
934 978
*978 „.. *_-80 Jan
6012 Jan 10
55 Nov
*49
50
Do pref
50
65
50
,
60 *46
*46
60
*46
160 Jan.
*50 -53
Oct'08 .._...___ Chic Junc Ry do USY.100 126 Jan 2 160 J'ne 16 128 Dec 120 Jan '
Last Sale 148
9934 Oct
.100 102 Jan 10 11812 Sep 22
pref
Oct'08
Last Sale 116
t, Class 4....100 16314 Mel] 5 165 Mch 4 170 Oct 188 Feb :
Last Sale 16314 J'ne'08 -__ CoDnedc
------ _-----___
Apr 21 152 J'ly 156 Mch
Last Sale 13314 Oct'08 ...._____ Conn & Pass Ely pref-100 13314 Sep 26 138 Apr
--- ---22 294 Dec 280 Jan ,
253
Sep'08
Last Sale 250
ltnenhebeutriewlapradVer. -100 244 Jan 14
FO
C
-- ---- ---21 116 Nov 135 Jan
Apr
2
Jan
131
117
100
1233
8
37
! 123 123 12312 12312 12358
4 ii5- i2317
*12512 fa-- *ii572 1238
0912 Deo 114 Mch
27
Jan
79
27
Apr
67
245 Ga Ry & Electric--100
7614 7512 7512 *7514 76
76
77
70
76
70
*7314 76
88 Meta,
73 Oct
100
pref
Do
Oet'07
-___
73
Sal,
Last
85
*8J
85
*80
85
*80
85
*89
Aug 198 Jan •
190
100
Central
190
Sal,
Sep'07 ___ Maine
Last
814 Jan 2 1212 Jan
1014 *012 1012
35 Mass Electric Cos----100
10-1-0 ;15- -1-0-1-2 -1514 Icii; 1014 5212
Jan
8j
1112
9
7
2
t
ee
c
i.15- 10-1-2 ;15- .-62
O
D
7
37
2a
2 6212 Sep
03s Jan 25
15
4
403 Do pret
5034 51
*5114
62
5112 5112 51
6212 52
2534 Jan I
*52
19 61e1131
19 Nov
911
10
Last Salt 1538 Apr'08
Mexican Central.--_ _1
I
Jan
19012
l'
12712
Sep
14612
Nov
6
Jan
128
-iiii,
14212
H tford. 100
N kiar
&
14212 141
1,15- fif- iii- iii- iir 14-1- iii- 1-4-1'; 142
0 1445 Apr 1 195 Dec 160 Jan i
e 29
A pr
00 Jn
140
2
Y N ni
Northern
Last Sal 140 Aug'08 ____ N
205 Feb :Ai 205 Nov 226 Feb
9
pref_11009
Wor
&
_
Norwich
Last Sate, 200 Apr'08
_
1 189 Sep 15 176 Oct 20014 Jan
755 J n 15
0 17
)0
v0
1
186
68 Old Colony
186
*Thi- fig- 185- 116-- iii- 18-01; 186 186
29 Apr 2
96 Jan
25 Nov
* 5- fii- *___
Jan
Last Sale 2514 Sep'08 ---Rutland pref
26 *____ 26 *___ 26
26
8312 Sep 26
82 Aug
94 Jan •
17
Feb
70
100
Electric.
83
83
84
38 Seattle
*83
84
*8212 84
8113 83 *83
Sep
98
1683
4
*S2'2 85
312 Jan
9
8
82
0
1
0
3
)
N
O
8
11
v
2
t
2
4
1
3
o
o
Jan
s
3
88
100
94
Do pref
38
9412 94
95 *94
95 *94
95
*94 (16
Sep
95 • 95
34
enrh 12
ap
I,l
2 JA
80314
10
100 1127
88*8 Oct 6
164 16512 163 16612 16313 16510 16313 16514 16078 16334 15913 16212 15,262 Union Pacific
93 Jan
Nov,
1834
De pref
20
8853 883.s *8712 8812 *8714 8811
157 Sep 25 14518 Nov 170 Jan !
*8714 8814 *8814 89
0
09
19
Vermont & Mass--....1
Last Sale 18I- se-p-.5;
95 Jan
/4 Dec
2 9112 Sep 19
50 9766
-82 West End St
88
"Kiii
8813 8812 88
94 Nov 110 Mch
166 Sep 14
;0;i1 -ii- 7iii2 881-2 *-:::::: 108
JanJan
Do pref
, 19
10512 10512 106 106 *10512 --,
Jan
147
140
Aunn
61ch39
140
J'ly
10312 10512 10512 10512 *1e5
138
5o
Sep'08 ---- Wore Nash & Recta-100
Last Sale 140
_-- ---- ---- ---- ---- ---_ ___ ___
Miscellaneous
26 Jan
2912 Sep 14
10 Oct
3
13
Jan
Chem....100
645 Amer Agricul
2734
2812 28
2814 *2713 2812 *2634 28 *27
2122 Nov
73
L
meapyib
514 S
2834 2834 28
100 77 Mch 17 98
192 Do pref
91
91
91
b
en
9134 91
Ja
9134 9134 *91
15434 F
9
4 Feb 10
9134 913: 9134 92
614 2.915 Amer Pneu Service... 5U 9994
6
612
6
33 Jan
912 Oct
514 612
21 Mayl:,
2
25
514 514
*478 614
612 512
Feb
1Fe
Do
1453 ' 1514 2,258
1412 15
1314 1312 15
31
Aug
1314 13
13713
93
13714
Dec
Feb
1238 13
12
Jan
1009
5
Retin
pre!
861 Amer Sugae
130
13134 13134 130
13134 132
13012 13034 13134 13134 131 131
100 106 Feb 18 130 Aug 11; 105 Dec 13134 Jan
Do pref
360
129
126 129
129 12913 *126 12713 129
127 128
8914 Nov 13413 Jan
*126 127
Jan 2 13134 Sec. 3
Amer Telep _& Teleg_100 99 Jan
i3 Jan
1214 Nov
12734 12813 12734 12812 12734 12814 12712 12734 127 12734 12614 12634 5.421 American
2 2612 Aug 11
Woolen.._ _ _100 16
120
2178 2178
22
2314 2314 *2113 2212 22
24
*23
24
*23
60 Oct 10212 Jan ,
9 94 Aug 4
734 u 17
30 73
100
prof
Do
391
91
4 Jan ;
Mel)
312 J'Ite 4
3
9034 91
9034 9134 9034 9112 91
9012 91
9078 01
Jan
J'ne'08 -iai Boston Land
Last Sale 313
358 *3
358
.58 *3
:,
14 I 9312 Nov 115 Jan '
358 *3
*3
Cumber, Telep & Tel_100 9613Jan 11 125 Sep
____
120 12014 *120 ____ *120
26 Feb
1212 Oct
120 120 *120 122 *120 122
1434 Jan 6 1814 APr 15
--- Dominion Iron & Steel....
Last Sale 1514 Ang'08
*1634 17
16
Oct
914 Jul
5
312 Oct
812
414
17__ _ _ _ *15
*16
13
1.1ch
Land
East Boston
512 1.410
Jan..
512
6
4
*52
230
6
4
250
3
1
*5
Sep
4
53
Nov
185
4
3
201
5
Mch 17
612
6
534 6
150 Edison Elec Illum___100
230
235 235 *230 235 *225
230 230
230 230
Jan 2 118 J'1Y 21I ill Oct 162 Jan
230 230
111
100
Electric
General
299
140
139
141 142
Jan
141 14114 *141 142
Mayls
66g
43
Oct
Mch23
I
13814 13814 140 141
812
6
49
CoslUO
387 Massachusetts Gas
55
5534 5534 65
56
56
8612 Apr
66
*55
56
88 J'ly 31 I 76 Nov
56
66
Jan
*55
Do pref
466
88
-88
S712 88
88
88
8734 88
88
88
2 210 Aug 10 I 185 Nov 215 Mch
16
*8612 87
6 19727
90
1 Mergenthaler Line.-10
---- --_- --- _
434 Jan
I
Dec
114
8
3
Oct
*201 204 *203 20412 *202 205 202 202 *20212
2
Mch
1
10
202 Mexican Telephone3
3
213 *214 238
2
75 J'ly
46 J'ne
234 *214 234
*2
3 N E Cotton Yarn.........100 40 Mcla 6 6412 J'ly a,
60 ,7,8-&- -6660 *55
60
60
60 *55
90 Jan
88 Oct 81
80 Oct
*55
60
Mch23
75
*55
100
88
pref
Do
*85
12
88
*85
88
*85
88
*85
38
06 Nov 126 Jan
*85
120 Sep 4
88
88
12 Jan
372 N E Telephone
11912 120 *11912 120
120 120
120 120
1.71) J'ly 27 137 Nov 182 Jan '
120 120
120 120
243 Pullman Co
164
113
162 16318 163 16314 163 16334 163
9 Nov l 11 Jan
163 161
162 163
9 Apr 10 10 Feb 21
35 Reece Button-Hole.... 10
978 978
10
10
*934 10
7612 Nov 113 Jan
100 881 Jan 2 10812 J'ly 31
344 Swift & Co_
234 111238 10158 10158
2 17)9
978
278 1021
2243 Jan
20 J'ne
102 10214 102 10214 109
102 102
25 20 Jan 3 23 J'ne 11
A
5
Torrington.
Class
23
23
24
*22
24
*22
24
2712 J'ly
*22
24
2413 Nov
*22
24
*22
25 23 Ilay22 26 Sep 12
15 Do pref
26
*25
26
*25
26
*25
26
678 Jan
26
26
212
28
Jan
*25
Oct
26
1
114
Mch23
25
*25
Sep'08 ..5.6:4 Union Cop L'd & leg_
Last Sale 114
13, *114
*114
134 *114 134 *114 134
148 J'ly 14 10113 Oct 120 Dec
United
Fruit
130
12914
130
12912
130
130
t.
130 130
611 Jan
36
12934 130
Oct
:-1
Aug
n
o
a
s
12912 130
814
6
311
8
4
F
1
1H
_
Shoe
Mach
Un
Corp_
2,512
53
63
55
5334 64
5414 543.! 55
29 Jan
29 Sep 19
2353 Nov
541. 542! 5412 55
Do pref
381
2810 2813 2812 2814 2814 2814 2812
5038 Jan
22 Oct
2312 28
26 Jan 2 48 Aug to
*231.-4 2310 28
4638 19.867 U S Steel
8 4512 4678 4534 4634 45
45545
4 Jan
7912
Aug31
1073
Nov
11214
4578 461. 4514 46
Jan
pref
Do
681
108
10878 10034 108
2
9 Jar!
Nov.
4
l"
87412
Sep
4
13
109 1091: 109 10938 10338 10018 100 110
1 °
°
& Teleg-100
West Telep
Corp
Sep'08
Last Sal: 718
8
*7
8
*7
82 Jan
W Nov
8
*7
80 Sep 1
8
*7
9
Jan
59
100
pref
Do
-ii
80
*75
80
80
*76
*75
80
781. Jan
*75
80
75 *76
198 Feb 18 3538 Sep 25 1 2614 Nov
75
Last Salt 3312 Sep'08 -_ Westing El & Mfg.__ 50
4913 Sep 11
76 May 80 Feb
....... --- --- --__ --- --Do pref
Last Salt 4418 Sep'08 -_
--- ____ --_- --_ ---- ---- ---- -__
Mining
Fob
Nov
1214 Aug 19
814
814
872 Adventure Con
838 813
9
*8
9
9
2 Jan
741
614
2058 Oct
812 9
1 4014 Aug 7
213:
1
r2
150 43254:7182 FebAFFopbb
812 813
672 Alleuez
3713
37
39 *37
39
*38
39
3912 *37
38
37
37
8312 Aug 8, 4218 Dec 121 Jan
55
20
2
10
d
Capper
35.998
7418
Amalgamate
7618
7514 7214
74
63 Jan
2
19 Nov
7553 7612 7514 7624 7413 7534 75
25 2034 Jan 13 SO J'ne
Zoin
oc
mao
do
5 Ao
06
Lead & Sm
15
2
23_1! _ii.38 wig
*23
24
2312 *23
Aug 7
23 ,,23
23
26 Oct' 75 Feb
24
24
26 28 Feb 19 5014
1538 Jan
234 Oct
Apr 29
0 Jan 11,
314
25
31
276
Arcadian
313
312
; --312 -- 2 .71,5f2 --35,
3
lis -1
2812 May
734 Oct
--3!2 -.F2 ji, 3., --3112
14 Jan 2 35 Oct 7
3314 35
3410 3212 34 17,272 Arizona Commerclal.... 25 .40
33
34
2 Jan
703.t 32
.35 Sep
8014 31
Feb 14 .ta) Aug 7
25
Arnold
-Aug'08
.70
.75
Sale
..50
Last
.75
.50
'
.75
22 Feb
* 40 .75 ,,‘ .10
612 Oct
8 Apr 22 1914 May10
25
1134 18
1713 1734 1713 1734 2:235 Atlantic
1758 1814
Jan
37
2o
175 , 181 ;
Dec
413
18
18
3
4Jan
3
6
Oct
.19
110 Bingham Con Min dc S 50
.80 Jan
.35 .35 * .110 .60 *.30 .50
.19 .19
10 .25 Oct 7 .7412 Feb 27 .35 Sep
125 Bonanza (Dev Co)
.25 .25 4,-..15- 7iii" --- ---3314 Jan
.40 .40 '0,.40 .50
Nov
,
2
17
Jan
858
*.40 .50
13
Apr
1014
111
(rcts)
C&G
-1513 -13-78 3,655 BostonCon
1338 1311 1378 1378 1338 14
1
g 4
1378 14
0
311)14
1378 14
1614 1778 3.724 Bos de Corb Cop &SU M 5 1114 Apr 14
17
1614 16
16
Aug
1614 1613 161 2, 1578 16
3913 Jan
16
10 Oct
15 1612Jan 2
2414 2,234 Butte Coalition
25
2413 2478 2414 2438 24
,'
g
2453 2514 25
n
1
15
53
2,313 253A
89
ct 1010008 Feb.eb
o
5 (
)
0
710030
20
Feb
93
10
&
Arizona_.._
686 Calumet
11412 11512
116 116
116 117
Jan
11612 11774 11613 1181, 116 117
25 r565 Men 5
&
Hecht
65
660
Calumet
660
660
660
660
660
670
670
680
660
47 Feb
16 Oct
645 64i;
21 Feb 11.1 3613 Aug 19
25
Centennial
4.373
35
.3414
3414
34
3424
3134
3612 3412 351f
9 .25 Oct .52 Jan
3434 35
34
.40
220 Cons Mercur Gold__ _ 1 .428650751: JAMsfapcanrhy22462 .45 J'ne 6
.40
.40 .43 *.40 .44
*.40 ,43 * .40 .93 • .40 .43
4414 Oct 105 Jan
27Copper Range Con Co.100 5513 Feb 18 8112 Aug
7314 :
72
73
7414 73
7438 743: 74
75
712 Dec
1114 J'ly 30
2012 Jan
7412 71:2 74
Jan
7
408
Daly-West
912
81
0
:
812
912 012
7012 Mch
912 012
5112
40 Oct
May
913 934
931
*9
Coal
10(
July'08
Dominion
Last Sate 51
418 Jan
114
------y
v
o
N
:
7
8
1
J
2
34
y
Y
8
68
l
3
i
85
2
98
---6
22
r
atu
A
j
---9412
---- ---2 .99
10
10
Do pref
Last Salt 9838 July'08 , ___
River
2
Elm
80
2
214
1
*2
.
'2
2- -114 7
-;
2914 Mch
2
2
-114
Oct
6
15
Aug29
12
005 Franklin
1214 1212 1214 1214 1214 1214 12
65 Oct 151 Feb
1213 1212 1234 13
110 J'ly 30
5
20
105 Granby Consolidated-10
*98 103
101 102
102 102
17511 Apr
103 10:3
514 Oct
1318 Aug 3
*____ 100
1011 -15- iiiii- 3,283 Greene-Cananea
514 Jan
2 Dec
278
Jan
1012 1('31 1012 103.1 1014 1038 1014 1014 10
2'li
2
y
in
'
Ja
j
6
78
5
1
6
5
29
50 Guanajuato Consol134 13,
Jan
Oct
3612
2/
2614
Jan
1112
17
-H1-3 -22-1-3 2,070 isle Royale (Copper) 25 1734 Feb
12-3-.11 -i51-8 "i4
- -fi- -a; -i5- **a; 2214 2212
'
1434 Oct 5
b
22
m
Sep
S
214
10
6
5
2
Copper
Lake
1414
14
7,397
8
143
1412 1413
30 Feb
: 1414 1412 14
Oct
1314 142
141
Jan
8
1714
2
1234 1:3
Jan
1214
25
14
14
2,137 La Salle Copper
14
1414 14
914 Jan
1412 1414 1414 14
14
233 Nov
8 Aug lb82
1313 rf.',
870 Mass Consoi
6
134 Jan
531 534 *534
558 579
”i 6
.75 J'ly 30 .40 Nov
534 534
o
Niayflw
Oct'08
Lag Sale .50
1514 Jan
*.50 - __ * .50 ____
Nov
534
11
Jan
8
*.59 _ *..50
12
Seta
414
10
414
414 -aTio Mexico Cons M & S....
414 438
413 412
2
1
-414
48
7
51
4
A
ug
u
3
414 -4-14
g
1.
3
-ill
22
*4
134Sen
5
934 10
4,512 Miami Copper
1018
2412 Jan
634 Oct
1012 10 2, 1014 1012 1014 1028 1018 1018 10
605 34 h g
1334
1378 *13
*13
9612 Jan
*1334 14
14
1412 14
37 Oct
1312 1313 14
71 J'ly 31
et I.
514 Fe
22 47
6212 6212 1.001 Mo
lehalivalcp
0312
6312
6312
312 May
6312
63
Nov
1
63
65
24
63
8Jan
13
63
9
63
.45
.40
300 Montana Consol C & C 10 .40 Oct
...
2012 Jan
534 Nov
17 Aug 8
*.45 .59 *.45 .50
2
Jan
834
5
..
Consolidated
Nevada
15
8
4
1538
3
53
1
566
i8/4
4 Oct 120 Jan
8 ;1378 -1-0530
8912
Aug31
1614 16:0 --1613 Te751614 1.6:
19
4034
Feb
15
823, 7912 8128 18.950 North Butte
212 Jan
8234 81
82
12 Sep
:: 8212 833-4 8134 83
8213
1 XIV 31
25 .50 Jan 15
*.60
.75
120 Old Colony
63 Feb
18 Oct
•.65 .75 " .60 .60 * .60 .75 * .60 .75 *.60 .75
25 28 Jan 2 45 Oct 7
4313 4434 4312 45 11,152 Old Dominion
45
181 Feb
12
71O
4414 4314 4314 43
5
4234 4333 43
Oct
12412
19
Feb
77
25
115
11912 2.247 Osceola
116 118
35 Jan
118 118
834 Oct
J'ly 31
113 1141- 115 12410 11812 120
2613 2.340 Parrot (Silver & Copp) 10 1013 Jan 11 2973 222608
2612 2712 26
28
e3 Jan
Dec
2610 27
yg 1
2613 263.-1 2612 2L'!73 26
Ajai
114 J
12 Mehl! 1005
Consolidated 25
Aug'08 _i,_3.
Last Sale .90
1
1 * .50
70 Oct 148 Feb
1 *.50
1 * .50
* .56
19
Feb
77
25
92
91
94
Quincy
*93
94
4 Jan
94
e123
2
Oct
9„:
94
94
93
95
94
2 Mc1126
25
414
414 *4
215 Rhode Island
71, Jan
418 418 *4
414
113 Nov
418 *4
4
*4.18 4.
158 Apr 3
134
134
250 Santa Fe (Gold & Cop) 10
*134 2
2
2
8 Jan
243
Oct
713
4
j
8
4
*131 2
2
Aug
16
. *1-1 2 - *134 2
19
Feb
934
10
1478 1538 4,712 Shannon
6
1 :34 1434 1438 15
uu gg 105
Oct
1134 147s 1434 1434 1473 1514
:4
9 AA
276
25 14 Apr 3 2
26
2514 26
4,277 Superior
61 Oct 170 Jan
2413 2413 2434 2534 2512 2634 2614 2634 26
20
Mch
58
25
Tamarack
74
*70
74
465
*71
75
*71
4214 Jan
74
938 Nov
72
73
72
73
76
1
1612 16
16
1712 6,910 Trinity
:,914 1914 1818 1914
7714 Heil
1514'Aug 10
7 Dec
1734 183., 1612 18
978 1012
286 United Conner
2? Oct
91 May
1114 115e 1114 1114 *1012 1034
Sep 3
2914
Lea/ Sale 29
Sep'08
Nov
1314 Jan
712
10
Aug
28
9 Mch31
SrteaftesCoal&011122
2512 25
pteedP
2514 1,858
- UnI
16- 18-3 *25
70 Jan
'251.2 --T5i2434 Oct
2 iliii4 7t.FE1.:2 "ig- -2-1;- 443,3 Aug 7
6
Mch
28
5U
&
MinRef
Smelt
39
S
39
(I
39
39
1,050
40
49 Jan
4012 3912 3912 40
40
90
40
2778 Oct
23
J'ly
4612
3
10
Feb
32791,
Do
4412 44
44
2.491
79 Jan
2512 Oct
44 . 4412 4412 9412 4414 4412 4412 4413 4412 9012
60 Aug 7
Jan
5
d 50
pref
3934 41
3913
9.307 Utah Consolidate
4013 43
4213 44
2771
i 3
Au
4412 4434 4412 45
4( 2.ru
10 2878 May 8 43
4134 4134 4038 4114 2.132 Utah Copper Co__
4158 4034 4034 4114 42
1153 Feb
12 Oct
3
4134 4218 41
16
Apr
212
25
210 Victoria
---- ---.
414 412 *414 5
412 412
478 478
14 Jan
e212 Nov
*414 5
413 Jan 2
'5
512 513 ---.. __ 1,240 Winona
6
6
*513 612
512 513 *513 6
93 Oct 108 Feb
Sep 15
149
2
Jan
25
11512
138
210
Wolverine
138
-----138 138
138 140 *137 138
Nov
358 Jan
.10
138 190
:1
Oct
338
25
May26
.50
.
318 7,165 Wyandnt
3
314
3.3A
278 3
278 3
318 314
338
3
stock. e Ass't pald. S Ex-stook div. 11 Ex-rights. a Ex-div. and rights.
Before pay't of asse,ss'ts called In 1907. * Bld and asked prices. 4 New
;in- -ggii
„
gs
-eei, 113,, us, 115, •
. lifirli r(4,
zg 213,53,i
927
Boston Bond Record.
OCT. 10 1908.1
Price
Friday
Oct 9
BOSTON STOCK 14: X(111'0-5.
WEEK ENDINfi OCTOBER 0
Range
Since
January 1
Week's
Range or
Last Sale
Low High
High
Ask Low
Bid
11818 100
418
/
100 J'ne1
Am Bell Telephone 48....1908 J -J
4
/
4 901
/
4 55 781
/
901
coil tr 48.1929 J.J
1304 Sale 90
Am Telen &
4
/
9178 7933* 390 8078 941
Convertible 4s.1938 M-S
97834 778%
77834 Mar'Ob
Am Writ Paper 18ts t tis g IUD) J -J
4 99%
/
961
00%
99¼ 9938
Atcn Top 8,S Fe gen g 48_1995 A-0 99
4
/
891
85
4 Sep '0:/
891
l'ly 1095 Nov
92
Adjustment g 48
91
91
91 Sep 'Os
Ply 1995 lll-N
91
Stamped
S
Boston Elect Light 1st 68.1908
1924 51-S
110 Feb'04
Consol 68
1916 J -J
101 Sep'06
Boston & Lowell 48
104 104
1944 j-J
104 Ply'0,
4s
/
Boston co Maine 41
......
4Jan '03
/
1121
48 1947 F-A
/
Boston Terminal let 31
104 Oct'07
1918 J
Bar & Mo Bay ex 613
1918 J -j
102 Sep '05
Non-exempt 1.93
98
1910 J.3
97
4 Apr 08
/
981
Sinking fund 48
100 J'ne'01
Butte ab Boston 1st 66...A917 A.0
117 117
117 J'ne'08
Cedar Rap & Mo 11 1st 78 1916 M-N
1909 J-D
43J'ly'06
1
111/
26 7s
4
/
801
76
80
80
81.
Cent Vermt 1st g4s..May1920 Q•F 80
11103 Oct '07
O B & Q Iowa Div 1st 58 1919 A-0
96% 11001,
1919 A-0
4 Aug'08
/
981
Iowa Div ist 48
100 100
1013 M-N
100 Apr'Ob
Debenture 58
4
/
984 981
1922 F-A
9818J '08
Denver Exton 48
9838 983,3
1927 M-N
9838 Apr'08
Nebraska Exton 4s
1921 M.8
4 May'07
/
971
B de NV t 4s
80 789
1949 J -J
4s
/
Illinois Div 31
78734 Aug'Ob
Joint bonna See Gt Northern
4
/
99 1031
3hioJo lty 61, StK Yds 58.1915 J.3
102% 102;
89
85
Coll trust refunding g 481949 A-0
89 J'ly'08
118 118
Ch MB & St P Dub 1) 68_11120 J -J
118 Ply'08
Oh M & St P Wm V dir 681.920 J -J
126 Feu'05
99
95
99 Aug'08
Chic te No Mien 1st gu 53.1931 M-N
97 102
160
Chic 84 W Mich gen 68
1921 J -D 100 Sale 100
91 Deo'07
Concord & Mont cons 4s 1920 J -D
4Jan '03
/
Conn & Pass It 1st g 4s i943 A-0
1121
......
104 Nov'06
Current River 1st 5s
1927 A-0
4
/
821
80
8178 May'08
Dot Gr Rap & W 1st 48 1946 A-0
90
90
90 Feb'08
Dominion Coal 1st a f 63_1940 54-N
98 Apr'07
1919- 5,11.N
Fitchburg Ss
......
1034 Api'05
1915 M-S
48
06
96
96 Apr'Oe1
1927 31-S
4s
4
/
128 1281
4 Apt'08
/
1281
fremt Elk & Mo V 1st 68 1933 A-0
Apr'05
140
A-0
11)33
68
1st
Unstamped
1)64 974 9718 1198% 14 9247993e
t Nor
13 6414 cell tr 48 11/21 J-J
92
98%
4Sep'08
/
971
96
11)21 Q-J
Registered 48
-•
.
•
:.
BOND:,
r,.2
BOSTON STOCK EXCH'GE s.. t
WEEK ENDING OCTOBER 9
.F.,z.
Price
Friday
Oct Y
Range
Nines
8p
c January 1
'
Week's
Range or
Last sale
High Au Lou, llig/1
Ask Low
Bid
100 Sep 'OS .... 974 100
Illinois Steel deben 5s....1910 J -J 100
4 1001*
/
1 95 19018
4 1001
/
1001
Non-convert damn 6s...1913 A-0
la Falls &Sioux Clst 7s..1917 A-0
117 Apr'0- .... 117 117
96
06 Mar'0. . .. 90
Kan C Olin & Spr 1st 5s. .1925 A-0 91
Kan C Ft S de Gulf 1st 78..1908 J -D
101 J'ne'08 ... 100 101
4 1161
1
Kan C Ft Scott 4.45 51 68.-1928 M-N 11312 11522 113 Oct 'In .... 11.19/
4
/
801
4 sep '0 ... 871
/
4 91
/
Kan CM 8.., B gen 48
1934 M-S
881
87 Sep'0 . . 87
4
/
Assented income 5s
1934 M.S 100
Kan C & M Hy& Br lat 561929 A-0
101 Sep'08 .... 101 101
Maine Cent cons 1st 7s..1912 A-0
11358 Nov'06
Cons 1st 48 „
1014 Sep'
1912 A-0
05
Mare Hough & Oht tat 63.1925 A-0
115 J'ne'9,* .... 113 115
4Sep'0. ... 74 1185
1
/
Mexican Central cons 48..1911 J-J80
il6 Apr'0, .... 716 7164
Jan 1939 J'ly
1st cons inc $s
4
/
411, .... n51411151
/
Jan 1939 J'Iy
26 eons me 35
1 15 4 Apr1
Mich Teleplst 51/
1917 J. J
Minne Gen Elec con g 58 1920 J -J
10212 Angq) ... ......
4
/
981
08 Sep '0 .... 93
New Eng Cot Yarn 58. .1929 F-A
98
1908 A-0
New Rag Teleph 68
100 Ifeti'0 ... 100 100
1916 A-0
6s
10043Jan '0
1916 A-0
5s.
4 Sep'0 .... 100 iv 1004
/
1001
New England cons a 5s...1945 J •.1
1939 A-0
Boston Term 1st 4s
4793
/
791
481956 3-3
/
1193
N YN II & H con deb 31
793
4J'Iy•o,: .. 081
/
981
1924 F-A
4 981
/
4
/
Old Colony gold 4s
Oreg Ry & Nay con g 4s..1946 J-D
¶96', J'ly'0 ... 1196¼ 7964
4
/
1922 F-A
4Sep '0:.. 103 11191
1
1112/
Oreg Sli Line 1st g 68
102 A ug'0
Repub Valley 1st a f 6s...1911) 3-3 100
10712 Nov'0
Rutland 1st con gen 4128.1941 J.J
102 MaP0 ... ......
Rutland-Canadian 1st 4s1949 J -J
98/
4May'OC
1
Savannah Eleclstcons 58.1952 J -J
4
/
1930 F-A
4 Ply'u. ... 100141011
/
1011
Seattle Eleo 1st g 5ii
97 Apr'0"
rerre Haute Elea g 58.-1929 j.j
4 Nov'01
/
991
1918 M-S
Torrington 1st g 5s
4110114
/
11024 Oct '0, ... 11991
Union Pao RR& 1 gr g 48.1947 J•J .
1199 Sep'0 .... 1184%1199
1927 J-J
20-year oonv 4s
116 Jan'
lit; 117
United Fruit cony gen 55.1911 31-S
. 186 7102
11102 ¶102
U S Steel Corp 10-60 yr 58.1963 111-N
964 Feb'O:..... 0614 964
West End Street Ry 4s. .1916 F-A
4 1014
1
•101 18Sep': ... 101 /
1914 M-S
Gold 4/
48
1
1O2 Jan•Ot
1916 M-N
Gold detienture 48
4
1
99 1* 99/
9918 Sep'0 .
1917 F-A
Gold 48
07
79
95 .
95
96
95
Western Teleph & Tel 58.1932 3-J
1194¼ Sep'0.
Wisconsin Cent 1st gen 481949 J -JI
10938 Aug'0
Wisconsin Valley 1st 78-1909 J -J
-
---S
7 Flat price.
and asked.
Nara-Buyer pays accrued interest In addition to the purchase price tor all Boston Bonds. * No price Friday; latest bid
Philadelphia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
sat urday
Oct 3
Monaay
Oct 5
Tuesday
Oct (3
Wednesday
Oct 7
Thursday
Oct 8
95
*95
1)5
95
4
/
*61
4
/
.634 822 •61
•64
*612
1212
.1212
14
131 •
*12
14
.12
•10
1012
•10
4
/
101
Le
10
1.1
'10
4
/
101
•10
..
hriday
Oct 9
25
70
9512
74
13
10¼
.20
.67
*95
95
4 •6%
/
,81
4
1
4 .12/
/
121
4 •10
/
101
Range Since
Jan 1 11)08
ACTIVE STOCKS
Sales
0,1 the
Week (For Bonds and inactive
Stocks see below)
Shares
romre Prices-Not Per (Jammu Prices
Baltimore
Con.Gas El. L. & Pow.100
100
Do prof
50
'72 Northern Central
Seaboard(new)
100
25
Do 2t1 prof
100
100 United Ry & Electric 50
Lowest
pnange
Highest
20 Jan 1L 271- Mayli
'
Apr2'
135 Mar213 76
80 Jan 2 96 Sep 2 t
4 Feb 12 84 Ang21
4.1'1y 2'
/
10 Feb lb 131
4 Mar2
/
10 Jan 8 111
for Previoui
Year(1907)
Highest
Lowest
33 12 Jan)
80 MaP
4 Noy
/
781
10 N1
24 De
87 Oct?•
35 Jan
85 jan
97 Jan
234 Jan
48 Jan
13 J'ne
Philadelphia
4 Dee4i 51 Jan
/
18 American Railways
50 42% Mar 1/ 46 Ang11„ 431
4 45
/
.441
'414 45
4 46
/
'441
4434 4434 .444 45
.15
22 Oct, 4712Jan
50 26781feb 10 3878Sep
4 35% 1,602 Cambrm Steel
/
4 351
/
4 361
/
361
36%
36
3578 3578 36
364 36
8
*07
10
4 Jan 26 11/78.1'ne2:.% 7780et 1138Jan
/
unsie 0516
250 Electric Co of America 10 81
10
10
10 •61318 10 •92318 10
8 Jan
7 Aug 01 3 uct
100 3 hT, Jan V
Gen Asphalt tr ctis
7
•5
4 Aug2 1 1334 Not 36 Jan
/
100 1978Jan 6 291
Do pref tr ctfs
27
.25
4 Dee:, 10 Jan
100 338 Feb29 914 Apr 1 '
269 Lake Superior Corp
4
/
(11
4 61
/
4
/
61
4 •6
/
61
64 .6
6
(3
4
/
61
6
4Ply ..'' 69 Oct 103 Jan
/
252 Lehigh C & Nav tr ctfs 50 784 Jan 2 921
90
90
90
90
90
4 90
/
901
4 .90
/
if0i's 901
)
i))
4 Oct 7878Jan
/
50 52128 Feb26 6814 Sep 1.r_ 481
3,168 Lehigh Valley
654 66
4 67
/
651
6678 67
4 673* 6578 67
/
673* 661
%Novi 2 L2 J au
100 1318 J an 20 278 Apr241
350 Maraden Co
1% 138
1% 13*
548 Jan2 634 Aug , -r52 Nov.701118Jan
50
RH
Pennsylvania
1,308
8
613
614
4
/
611
4
/
611
4 613; 61% 624 61% 62
/
61146111i. 611
4Jan
/
207 Philatlelp'aCo(Paten) 50 3412 Mar 3 41'aApr24, 3334 Noy 481
4
/
4 381
/
381
4 39
/
*381
4 39
/
'381
39
3914
39
39
39
39
4 Feb27 1014 Oct ' 6318 Noy 9 Apr
/
10
1,265 Philadelphia Eleetrict 25 51
4 10
/
101
10
4
/
4 101
/
101
4 10¼
/
101
104 10', 104 1014
*208May
22
'
Nov
9
Oct
i412
3.1'ne
4
/
d121
50
Transit
Rapid
Plata
11.870
22
21
4 204 21
/
4 20% 201
/
20% 201
4 207
/
201
4 21
/
201
50 46318 Feb 17 6611/8 Sep 15-- 35¼0c1 60% Jan
4 40,961 Reading
/
4 6b3;8 634 (241
/
4 641
/
4 06718 6534.8 66,, 65 6d318 66348 661
/
651
4 Sep *2
/
3612Nog 4538Jan
50 39 Jan 3 431
Do 1st, prof
8
*434 44
4 4l',
/
431
4 act 3- 32 12 Oct/ 47 Jan
1
4Jan 2 44/
/
50 371
2dpief
Do
112
4
/
431
4
/
431
4
/
431
4
/
431
44
4 •43
/
4 431
/
431
4 441.
/
431
4 44
/
.431
50 x4412 J'nel0 5614 Apr21 4178 No, 6038Jan
49% 6,311 Union Traction
4 411
/
491
49
494
49
49
491
48% 41)
49
4
/
491
4Jan 2 89 J'1y 21 66120ct 9643Jan
/
50 731
1,173 United Gas Impt
4 86
/
851
86
86', 66
8638 86
4 8634 80
/
861
Si)', 86100 25 J'ne22 26¼ Sep 11' 25 Nar 30 Feb
60 Welsbach Co
25
25
4
/
•441
4
/
361
.91310
•6,,,,
'26',
•6
4
/
901
67
PHILADELPHIA
Bid
Ask
Inactive Stock*
Allegheny Vol prof
1)11 35
American Cetnent
100
Amer Pipe Mfg
Bell Telephone (Pa)J00 98
60 45
Cambria Iron
Central Coal & Coke.100
Consol Ti-ac of N J...100 67
DISMOIlli State Steel..10
19
Preferred
Easton Con Electric 5.50
35
Elea Storage Batt....100
100
Preferred
100
et Wayne &W V
125
50
Germantown Pass
100
Indianapolis St
Indiana Union Tr....100
21
20
Insurance Co of N A..10
Inter Sin Pow & Chem.50
Keystone Teleulkine 5u
50,
Preferred
KeystoneWatcliCaae.100
1(),,
141
4 1(3
/
Lit Brothers
50
Little Schuylkill
Minehill & Sehuyl H..50 80
N Haven Iron & Stee1.5
50 .114.
Northern Central
1004
North Pennsylvania. 60
4
/
50 1021
Pennsylvania Salt
Pennsylvania :,t eel..1001
100 103 104
Preferred
4
/
401
Phila Co(Pitts) pref...50 41)
Phil German & Norris.50
884
501 88
Kula Traction
10
Railways General
Suaquen Iron & Steel..5
10
Tidewater Steel
10
Pro terred
63
7
Tonopah Mining of Nevl
100
Union Tr of Intl
4
/
2451
United N J RR &
Unit Trim Pitts pre(..50
4
/
71
Warwick Iron & Stee1.1()
West J ersey & Sea 811.50
4
/
Westmoreland. Coal....60, 861
57
Wilke* Gas A:. Elee..1110 53
*
PHILADELPHIA
Bonds
Al Val B ext 78 1910 A-0
Alt &LVEleo 4 10'33.F-A
Am Rya cony 5s 1911.J -I)
Atl City let 5s g'19.M-N
Balls Ter let 68 1926.3-1)
Berg&EBrw let66'21 J-J
Bethle Steel 68 1998.Q.F
Choc& Me 1st58 1949 J-J
Ch Ok G gen 58 110 J-J
Col St By 1st con 58 1932
Con Trao of NJ lat 58.'33
E& A let M 5s 1920 M-N
Elec & Pee Tr stk tr °Os
Eq II Gas-L 1st gl5s 1928
H& B Top con 53 125 A-0
Indianapolis By 45.1933
Interstate 4s 1943 ..F.A
45 '14.Q-J
/
Lehigh Nav 41
Rita 4s g.....1914.14-F
Gen M 4128 g.1024.Q-1:
Leh V C let 38 g
Leh V ext 4s 1st 1948.3.1)
M-S
2d 7s 1910
3.1)
Consol 6s 1923
Annuity 68
Gen cons 48 2003.51-N
Leh V Trail con 48 133J-1)
New Cou Gas 58 1948 J-D
Newark Pass con 58 1930
NY Ph& No 18t4s'39 J-J
Income 48 1939...M.N
NoOlnoTrac conOs'19.J
Penn gen 6$ r 1910..Var
Consol 68 r 1919. Var
Penn 8,5 Mil Steel con 68.
Pa & NY Can 58'39.A-0
A-0
Con 4s 1939
Penn Steel 1st58'17 M-N
People's Tr trcerte 4s'43
P Co 1st& col tr 58'49 M-S
Con& col tr Os 19515.1.-N
PhIl [(lee gold trust othi.
Trust certifs 48
P & N gen MO g'20.A-0
Oen M 45 g 1920..A&O
Jsid
PHILADELPHIA
Ph & Read 26 58'33.A.0
J-D
Con XI 78 1911
Ex Imp M 4a g'47 A-0
4
1
96/
4 98
/
961
Terminalf58 g1941 Q-F
P W & B col tr 48'21.J..7
Portland By 1st 5s 1930.
Roch lty& Leon 58'54.74
Spanish-Am Ir ths '27 3-3
-ac Ind gen 58'19-14
U Ti
Un Rys Tr(Ws 4;3'49J &J
United Rya Inv 1st coll tr
..M-N
s Ois 1926
U Traci Pit gen 58'97 J..)
4
/
1061
Welsbach a f 58 1930.J-D
91%
G&E con58'531I-J
BAL1'1,110114.3
8434 85',
Inactive Stocks
33..2 31
Ala Cons Coal& 1r on 100
100
Pret
Atlantis A Charlotto 100
Allan Coast Line lt R.100
109 1091
4 Atlan Coadit L (Conn)100
/
4
/
1031
101)
Canton Co
104 22
Cons Cot Duck Corp .50
12034 122
50
Preferred
146
Georgia Sou & Fla....100
98
100
1st prof
100
26 prof
100
G-B-S Brewing
4
/
1071
Bonds
Anacostia & Pot 58
All & Ch ext 4'as '10.J-J
102 103
Allan C L RR48195211-S
All Coast L(Ct)ctis 583.1)
110
CM of indebt 48.
3.3
5-20 yr 4s 1925
Balt Pa.ss lat58'11 M-N
Bait Fundg 5s.1916 51-N
48 1930 3-3
1
Exchange 3/
4
/
941
Balt& P 1st68 m 1'11 A-0
102 103
99% 9934 Balt Trao lst58 '29 1,1-N
No Balt Div Os 1942 J-D
100 1001
4
/
71
71', Cent'l Hy con581932 M-N
Est& Imp 58.1932 M-8
Chas City Ry lst58'23J-J
100¼ 101
ruid a.sked; no sated on this day. ¶ 10r-rights. iI$7.SOpaid.
Ask
5124 Paid- 8413¼ wild.
Bid
Ask
BA LT1,1101LE
Chas By GI& El 58'99 M.
Charl C& A ext 58.'09 J-J
1011
1910 A21 78
100
City& Sub 1st 58-'22JCity& Sub(Wate)lat 58'4
Coal & 1 By 1st 58'20F.
954 95% Col&Grnv 18t138.1916J-.)
Consol Wts tia...1910 J100
1939 3110
58
Ga& Ala 1st oon 58'45J -J
6434 65
GaCar&N lst 5s g'29J-J
Georgia P 1st 68..222 J-J
7912 80
GaS'o& Fla 1st58 1045J4
105 106
G-B-S Brew 3-4s 1961M.'
75
73
2d income Ss 11151 51-N
99%
KnoxvTrac 1st fai'28ALakeR El 1st gu5814231-S
Macon Ry&LtIst58'53J
25
SO
Memphis St let 58'46 J-J
68
60
4A
Met.8t(Wash)18t5s'251'
Mt Ver Cot Duck 1st 58.
31.-N
58'38
lat
P
Npt.N&O
200 226
General 5s....1941 51-8
82', 874 Norfolk
St 1st 58'44-J-J
6
5
Cent412s 1925 A-0
North
,
243
23
Series A 5a 19'26.
19
10
Series B 58 1926 .J-J
75
4 Pitt
/
821
-ac 58 1997.J-1
Un Ti
60
Polo Val let 58 1941...1-.1
3 Say
2
Fla &West58'34 A-0
Seaboard A L4s 1950 A-0
4 Saab & Roan 58 11126.I.J
/
100 1001
South Bound 1st 5s..A.
99 100
U El LAP 1st4128'29 31-N
95
94
Un Ry& El 1E44.3'49 M-S
J-D
Income 48 1949
80
76
Funding 58 1936 J.
80
78
Va Mid 2d ser '11 111,6
101
3d series 6s 1916. M-,8
108% 109¼
4th ser 3-4-5s 1921.31..:
4
/
4 981
/
971
5th series s 1926.51
104 105
Vs(Stcte) 38 new'32.J4
108
Fund debt2-3s 1991.J.J
113% 115
West N C con 6s 1914 J-J
110
WeaVaC&P lat6g'11J-J
Wil & Weld 5a..1935.J-J
102 103
......
.335 paid. a Receipts. t) $25 paid. c $30 paid.
Bid
Ask
96
84
10234 104
4 105
/
1021
108 109
100', 102
100 10'4;
112 115
103 104
110¼ 11114
981, 994
101% 102 22
112 115
105 105 1g
4 44
/
431
14
13
102 101
113 114
94
108
75
85
754
110
16:1/
4 103
1
398
1111.
111 12
105
100
107 109
(11. 55
4 1041
1
lo3/
4
/
100 101
4 92,
/
901
134 85
5134
4
/
791
79
102
192
101
10212
90
4
/
911
92
91
108 10812
103 104
104
4 paid
/
t14.421
928
THE CHRONICLE
[VOL. LXXXVII.
$nuestment and iflailroad $ntelli4ence.
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 supplementarystatement to show the fiscal year totals of those roads whose fiscal year does not begin with
July, 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.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date
Current
Year.
Previous
Year.
.r5
II •
$
$
Ala N 0 & Tet Pac.
Nevada-Cal-Oregon 4th wk Sep
10,849
9,911
105,387
103,368
N 0 & N East-r August --- 212,044 .269.676
424,150
539,196 N Y C &find River -June
7,969,868 8,684,260 92,100,760 96,141,438
August -_- 113,380 128,414
Ala h
230,991
251,391
Lake Shore & M S J ne
3.086,055 3,791,103 41,704,152 43,528,818
Vicki Sh, de PAC-r August --- 106,268 138,309
214,568
270,007
Lake Erie & West June
356,538 422,895 4,675,068 5,119.967
Ala Tenn
JUly
4,130
4,130
3,753
3,753
'Chic Ind & South June
230,744 254,849 2,899,2118 2,685,965
k Ateh Tem & S Fe_ August
7,479,316 7,988,890 14,464,716 15,928,445
Michigan Central June
1,977,246 2,376,125 26,448,4061 27,490,423
Atlanta Blrm & At! Ju.y
150,083 155,936
150.083155,936.
Cleve C C & St L..
1,983,163 2,323,844 25,024,012 25,672,162
Atlantic Coast Line. August --. 1,575,574 1,950,997 3,317,912 4,005,187
Peoria & Eastern June
217,164 266,282 2,839,197 3,039,645
Baltimore & Ohio__ August
6.372,251 7,724,307 12,094,356 14,976,210
Cincinnati North_ June
80,803
82,554
922.472 1 031,769
Bangor & Aroostook August
195,352 233,269
376,686
456,471
Pitts
do
June
835,386
Lake
1,386,504 11.958.10014.476,381
Erie
Bellefonte Central.._ August
5,933
4,868
10,886
10,399
Rutland
236,384 269,300 2,899,635 2,917,835
June
Boston & Malne.---r Ju
3,275,122 3,752,1,17 3,275,122 3,752,197
N Y Chic & St L.. June
641,192 821,568 9,851,375 10,237,229
Bridgeton 46 Saco__ August -- 5,778
6,537
11.147
11,882
Total all lines
16914633 20679284 221222484 232239634
-June
Buff Bach & Pitts__ 4th wk Sep 196,646 249,350 1,921,224 2,385,185
Central_
8,057
August
5,480
13,923
14,729
Canadian Northern_ 4th wk Sep 313,100 206,200 2,377,600 2,477,100 Nevada
844,384 899,256 1,661,297 1,726,403
Canadian Pacific-- 4th wk Sep 2,104,000 2,021,000 18,985,838 20,369,451 N Y Ont & Western August
NYNH
&
5,350,063
4,528,132
August
Hart--r
8,029.955 10,379,662
Central of Georgla.._ 4th wk Sep 334,100 316,900 2,758,455 2.967,035 N Y Susq &
West....
266,400 272,190
496,553
548,082
Central of N Jersey_ Augt
2,159,942 2,557,130 4,136,666 5,100,786 Norfolk & Western_ August
2,507.097 3,057,236 4,876,922 5,925,826
August
Central Vermont
July..
.... 288,491 312,706
288,491
312,706 Northern Central
056,036 1,257,936 1,825,151 2,435,551
August
Chattanooga South.. 2(1 wk Sep
1,449
2,876
20,232
35,879 Northern Pacific
5,739,534 6,993,785 11,419,059 14,125,250
Chesapeake ec Ohio.. August
2,292 904 2,667,351) 4,388.036 5,057,511 Pacific Coast
Co
AAuurrusstt
593,117 755,961 1,173,105 1,493,428
Chesterfield & Lane August
2,636
4,823
6,298
9,628 Pennsylvania
3,500,020 4,734,669 3,590,020 34
30..,7
13
224
72.:44
66
0040
9
1,150,976 1,129,395 2,208,102 2,128,803 d Penn-East Co- -r July
Chic & Altrn Ry--r August
P & E August
11644799 15522309 22,926,864
Chic Burl & Quin.._r August
6,918,604 7,553,214 13,189,767 14,447,156
d West of P & E_ Au u t
Dec.
2,013,300
Dec.
Chicago Great.West 4th wk Sep 254,993 252,107 2,152,529 2,292,172 Pere Marquette
2,258,248
August
-r
1,275,461
2,455,818
1,201,032
Wise Minn & Pac September
80,27(3
56,541
Phila. Halt Sc Wash_ August
1,380,227 1,592,527 2,817,905 3,125,305
Mason C & Ft D.. September
181.434 162,967
Pitts On Chic & StL August
2,255,778 2,891,81)6 4,483,682 5,604,623
Chic Ind & Loul8v. 4th wk Sep 143.424 144.140 1,407,870 1,565,732 Raleigh& Southport
August
17,886
21,064
8,133
10,179
Chic Ind de Southern -See New York Cen tram.
Reading Company_ August
3.012,903 4,085,996 5,930,374 7,852,156
4.652,409 5,121,014 4,652,409 5,121,014
Chic Milw Itc St Paul July
Coal & Iron Co__ August
4,076,793
5,839,640
2,883,510
2,122,030
5,770,644 6,439,654 10,985,829 12,404,102
Chic & North West.. August
Total both cos__
5,134,933 6,969,506 10,007,167 13,691,805
Chic St Paul M dc
1.098.580 1,187,614 2,097.067 2,318,075 Rich Fred Sc Potom August
August
July
174,628 178,258
178,258
174,628
Chic Term Tran RR 3(1 wk Sep
383,945
414.430 Rio Grande June_
July
72,930
78,565
72.930
78,565
Cln Ham & Dayt--r August -- 728,444 875,802 1,383,346 1,674.879
Rio Grande South__ 4th wk Sep
165,817
16,695
15,369
155,679
Cln N O&Texas Pac -See Soot hern Rai' way.
Rock Island system August
5,334,127 5,647,125 10,013,234 10,726,286
Cincinnati Northern -See New York Cen (rat.
e St L Sc San Fran August
3,993,644 4.670,790 7.591,896 0,046,962
Clev Cln Chic & St L -See New York Cen tral.
Evansv Sc Ter 11 August
106,956 224,045
382,668
422,799
Colorado Midland -r August --- 202,023 217,701
395,372
443,801
Total of all lines_ August
9,524,728
10541 961 17,987,798 20,196,048
h Col & South Sys__ 4th wk Sep 307,260 330,605 3,761,863 3,574,707 St Jos Sc Grand 1st_ August
149,244 173,613
320,197
274,060
Col Newb & Laur__ %fay
23,100
17.457
275,775
294,013 St Louis Southwest- 4th wk Sep 281,283 293,595 2,482,152 2,743,021
Copper Range
88,173
75,800
July
75,800
88,173 SanPedLA &SLr -June
605,756
7,518,512
_
23,467
• Cornwall
August
5,452
10,272
44,859 Seaboard Air Line.._
eust
1,060,634 1,326,305 2,246,987 2,13-17-,166
153.78(3 153,032
Cuba Hal road
153,786
July
153,032 Sierra Railway_
May
35,634
34,004
1,167,459 1,931,955 3,042,948 3,798,311 Southern Indiana__ August
I Delaware do Hud
August
129,211 160,005
245,570
21)7,275
2,616,370 3.265,557 5,475,609 6,292,575 c Southern Poe Co__ August
Del Lack & West--r August
9,831,637 11454077
Denver & Rio Gr.. r 4th wk Sep 596,400 826,000 5,409,224 6,178,599 Southern Railway__ 4th wk Sep 1,339,155 1.491,810 19,552,043 22,878,101
12,561,440 14,611,744
37,102
50,217
Det Tol & Iront Sys 3(1 wk Sep
386,584
454,839
Mobile Sc Ohio__ 4th wk Sep 304,942 340,246 2,234,687 2,722,054
42,367
46.301
3d wk Sep
Ann Arbor
435,039
517,833
Cin N 0 Sc Tex P_ 4th
Sep 211,763 264,755 1,953,825 2,313.203
27,546
31,042
Detroit & Mackinac 4th wk Sep
294,539
337,747
Ala Great South_ 4th wk Sep 169,042 121,825
885,230 1,069,788
559.750
Dul & Iron flange-r June
6,207,509
Geo South Sc Fla.. 4th wk Sep
50,406
53,395
443,800
533,933
74.539
90,376
Dui South Sh de At! 4th wk Sep
699,548
967,454 Texas Central
3d wk Sep
21,239
24,476
215,805
262,785
4,351,701 5,083,318 8.531,87i; 10,021.156 Texas Sc Pacific
August
Erie
-4th wk Sep 450,4(10 486,631 3,159,34(1 3,774,151
Southw_r
June
529
429
de
Paso
El
7,564,105
Tidewater Sc West.. August
10,251
5,715
11,671
18,739
Evansville & Ter H -See Rock Island S ystem.
Toledo Sc Ohio Cent August
457,138
438,224
876,776
917,146
1,681
1,197
Fairchild & Nor E.... August
3,105
2,769 Tol Peor de West...... 4th wk Sep
32,527
41,321
295,126
314,782
83,200
94,278
Fonda Johns de Cloy August
164,477
192,735 Toledo St L Sc West 4th wk Sep
90,904
61,445
003,750 1,135
1:8
337
0
August
205,661 244,470
Georgia Railroad
423,735
478,888 Tombigbee Valley_ July
5,837
4,591
4,591
Georgia South & Fla -See Sout hero Rail way.
Tor Ham & Buffalo.
73,651
66,486
66,486
73,654
4th wk Sep 1,050,600 1,163,778 10,355,517 12,098,748 Union Pac.fic Syst- July
Grand Trunk Syst
6,975_71 7,008,512 13,725,155 14,242,507
August
Gr Tnink West.... 3d wk Sep 103,408 136,987 1,319,745 1,562.895 Vandalla
r July
704,925
704,925 822,276
822,276
35.3(16
Det Gr Hay de Mil 3(1 wk Sep
35,622
408,000
471,128 Virginia Sc Sou West August -_ _
100,785 113,989
103,358
219,515
Canada Atlantic_ 3d wk Sep
38,966
50,378
480,420
555,532 Wabash
706,874
718,208 6,806,140 7,411,061
4th
wk
Sep
Great Northern Syst September 5,875,035 5,700,980 14,500,931 17,038,270 Western Maryland- June
429,231 512,606 5,648,277 5,600,451
29,071
Gulf Sc Ship Island. 3(1 wk May
45,907 1,903,319 2,215,730 W Jer
767,250 002,250 1,463,431 1,831,831
August
615,314 685,736 1,145,835 1,320,675 Wheel Sc Seashore...
August
Hocking Valley
Lake Erie_ July
527,211 622,939
527,211
622,939
1,662,619 5,280 ,577 8,915,876 10,392.515 Wisconsin Central_r
Illinois Central..
August
6130,472 728,664 1,321,121 1,477.589
August
Inter& Great North 4th wk Sep 245,000 212,000 1,801,511 1,806,922 Wrightsv Sc Tenn_ August
16,957
21,306
32,800
39,383
a Interoceanlc Mex_ 4th wk Sep 103,347 200,398 1,520,418 1,842,106 Yazoo Sc Miss Vail- August
637,647 796,802 1,222,198 1,517,916
78,33s
87,805
4th wk Sep
Iowa Central
770,619
806,090
207,173 214,068
Kanawha & Mich.... August
409,080
416.690
KansasCity South.. August __- 743,017 905,841 1,488,251 1,753,622
Previous
Current
y
• Lake Erie 6: 1,Vest'n -See New York Cen tral.
Various Fiscal Years.
Period.
Year.
Lake Shore & M Sou -See New York Cen tral.
2,833,933 3,496,603 5,360,384 6,765,645 Bellefonte Central
. Lehigh Valley ----r August
Jan I to Aug 31
$39,426
$41,788
36,821
Lexington Sc East.. July
51,761
36,821
51,761
Delaware Sc Hudson
Jan 1 to Aug 31 11,860,41(1 13,137,866
LongIsland
August
Dec 97, 068
Dec. 151 ,455
ManIstlque
Jan 1 to Sept 30
50,354
43,904
Louisiana & Arkan_ June
1,144,521 1,216,837 Mexican Railway
Jan 1 to Sept 21 5,496,400 5,777,800
Louisv de Nashv
4th wk Sep 1.232.190 1,210,382 11,230,183 12,741,768 Mexican Southern
Jan
1,000,839
to
1
Sept
919,629
21
11,249
Maccn & BIrming_ September
13,488
33,908
40,270 New York Central
Jan 1 to June 30 40,662,607 46.930,897
722,309 816,190
Maine Central----r July
722,309
816,190
Lake Shore Sc Mich South..__.. Jan 1 to June 30 18,3411,216 21,589,537
3,283
ManIstique
September
4,554
16,050
19,134
Lake Erie Sc Western
Jan
1 to June 30 2,040.667 2.432,537
Maryland & Penn
36,780
66,309
37,438
66,734
August
Chicago Indiana Sc Southern_ Jan 1 to June 30 1.394,317 1,499,408
2.794,474 2,995,982 32,869,443 28,492,109
-a Mexican Central... Nlay
Michigan Central
Jan 1 to June 30 11,735 281 13,833,980
a Mexican Internat.. 4th wk Sep 143,244 205,578 1,681,515 2,241,029
Cleve Cln Chic Sc St Louis.._.... Jan 1 to June 30 11,015,982 12,430,769
a Mexican Railway.. 3d wk Sep 101,500 149,300 1,546,000 1,805,500
Peoria Sc Eastern
Jan 1 to June 30 1.270,774 1,441.023
a Mexican Southern 3d vvk Sep
23,271
276,854
22,193
307,849
Cincinnati Northern
Jan 1 to June 30
479,804
397,081
Michigan Central- Sec New Y one Centr al.
Sc
Pittsburgh
Lake
Erie
Jan
1 to June 30 4,095,748 7,042,044
Mineral Range
4th wk Sep
219,460
26,843
26,739
216,793
Rutland
Jan 1 to June 30 1.228,046 1,386,496
Minneap Sc St Louis 4th wk Sep 134,238 107,387 1,089,481 1,082,746
New York Chicago Sc St Lou's Jan 1 to June 30 4,606,727 5.221,021
Minn St P & S S M_ 4th wk Sep 444,198 324,557 3,422,407 3,203,603
Total all lines
Jan 1 to June 30 96,787,446 114297513
Missouri Kan 46 Tex August
2,200,770 2.288,414 4,069,037 4,512,949 Northern Central
Mo Pao & Iron Mt-o 4th wic Sep 1.395,000 1,448,000 11,314,274 12,729,562 d Penn-East of Pitts h Erie..... Jan 1 to Aug 31 7,256,245 8,781,845
!
m
an
9
n 1 to A ug 31 86,947,713 114
924614
.5
10
0.
10
3
Central Branch-o 4th wk Sep
464,000
48.000
63,000
458,000
d West of Pittsburgh and Frle
Total system__
4th wk Sep 1,458,000 1,406,000 11,778,274 13,187,562 Phila.
Baltimore Sc Washington.. Jan 1 to Aug 31 10,558
54 2:9
554
16
"
,21.6 11.303
D
b Mobile Jack & KC lVk Sepip6
27,696
314,150
32,172
391,692 Pitts On Chicago Sc St Louis
Jan 1 to Aug 31 16,708,224 21,540.400
Nashv Chatt & St L August
878,611 095,211 1,758,910 1,953,049 Rio Grande Junction
488.025
D.c 1 to July 31
a Nat RR of Mexico 4C1 wk Sep 311,238 429,771 3,513,701 4,145,550 Texas
Sc Pacific
Jan 1 to Sept 30 9,156,892 12.167,894
•
Hidalgo 46 N E
4th wk Sep
21,569
220,460
22,397
261,583 West Jersey Sc Seashore
Jan 1 to Aug 31 3,735,883 3.050.183
80
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
W• eekly Summaries.
Cuent Yea, Prey's Year Inc. or Dec.
%
Monthly Summaries.
Curint Year prey's Year Inc. or Dec. %
3
$
a
$
$
a
3d week July (40 roads) __-8,600.600 9.961,410 -1,354,810 13.60
Month Nov 1007 (120 roads). 189.988,564 184.197,391 +5,791,173 3.14
4th week July (44 roads)
12,713,870 15,323,093 -2,609,223 17.03
Month Dec 1907 (123 roads). 174,422,451 184,893,810 -11,471,359 8.20
1st week Aug 141 roads)..__
8.660,176 9,872,839 -1,212.663 12.28
Month Jan 1908 (122 roads). 151,758,406 172,283,006 -20,524,600 12.49
2dweek Aug 439 roads)--- 8806,024
9,973,195 -1,167,171 11.70
Month Feb 1008 (123 roads). 141,256,206 160.150.610 -18,894,404 11.79
3d week Aug (39 roads)--8,887,875 10.118,734 --1,230.859 12.16
Month Mch 1908 (126 roads).. 162,495,089 187,435,350 -24,940.261 13.37
• 4th week Aug (42 roads) __- 13,076,076 15,626,928 -2,550,850 16.45
Month Apr 1908 (119 roads)- 154,137,168 100,046,156 -35,908,988 18.89
1st week Sept (40 roads)......
9,678,456
8,695,381
-983,075 10.16
Month May 1908 (120 roads). 153,112,628 108,146,871 -45,034,243 22.87
2dweek Sept (40 roads)........ 0,278,704
9.932,527
-653,823 6.58
Month June 1908 (113 roads). 146.270,130 170.397,004 -33,128,984 18.47
' 3d week Sept (39 roads).._...
-425,461 4.25
9,583,859 10,009,320
Month July 1008( 97 roads)._ 156,103,883 183,365,993 -27.262,110 14.8?
4th week Sept (38 roads)
13,176,000 13,002,382
--515,392 3.77 Month Aug 1008 ( 52roads)- 59,649,837 70,341,817-10,601,980 15-20
a Mexican currency. b Includes earnings et Gulf Sc Chicago Division. c Includes the
years. d Covers lines directly operated. e Includes the Chicago de Eastern Illinois in bothHouston Sc Texas Central and Its subsidiary lines In both
years. f includes EvansvIlle Sc Indiana RR. h Includes
earnings of Cot. Sc South. Ft. Worth Sc Denver City and all affiliated
lines, excepting Trinity Sc Brazos Valley Hit. k Includes In both years earnings
of Denver Enid Sc Gulf RR., Pecos Valley System and Santa Fe Prescott &Phoenix
fly. 1 These figures do not Include receipts from sale of
o Figures here are on the old basis of accounting-not the new or Inter-State Commerce
Commission method. r These figures are on the new bad'
prescribed by the Inter-State Commerce Commission.
THE CHRONICLE
Om. 10 1908.j
929 -
Latest Gross Earnings by Weeks.-In the table which
follows we sum up separately the etrptOgs,for the fourtb,weelc
of September. The table covers 38 roads and shows 3.77%
decrease in the aggregate under the same week last year.
----GrossEarnings---- -Net Earnings
Current
Previous
,Previous
Current
Year.
' Year.
Year.
Year.
Roads.
$
Mlnneap St P & SS Mb Aug 961,360 1,021.935
• 355,262 - ''`562;257 •
July 1 to Aug 31
1,911,469 2,116,825
774,692
748,569
;a Natl.:mai RR of Mexico.Aug 1,108,138 1,406,976
470,450
463,557
July 1 to Aug 31
2,406,900 2,812,701
943,776
912,450
Increase. Decrease.
1907.
1908.
Fourth week of September.
Hidalgo
&
North
87,425
77,580
East.Aug
12.630
21',885
---July 1 to Aug 31
172,589
150,854
22,999
37,865
$
$
$
8
Nevada
12,783
8,057
Central- b
109,042
5,480
Aug
121,825
1,491
575
Alabama Great Southern '
July 1 to Aug 31______
14,729
52,704
13,923
4,468
249,350
196,646
' 731
Buffalo Rochester & Pittsburgh
206,200 107,700
313,900
xN Y N H & Hartford..b_Aug 4,520,132 5,350,063 1,,553,486 2,199,626,
Canadian Northern
83,000
2,104,000 '2.021,000
Canadian Pad tic
July 1 to Aug 31
8,929,955 10,379,662 3,048,397 3,546.961
316,900
334,100
17,200
Central of Georgia
'N Y Ont & Western_a_ _Aug 844,384
899,256
353:291
405,199
252,107
254,993
2,886
Chicago Great Western
.
July
1
to
Aug
31
668,736
1,661,297 1,726,403
728,346
144,140
143,424
716
Chicago Indianapolis & Louisv_
52,992 Pacific Coast
211,763
Aug
264,755
107,517
593,117
755,961
Clue New On & Texas Pacific
148,234
July 1 to Aug 31
23,345
307,260
330,605
1,173,105 1,493,428
172,754
Colorado & Southern
263,679
29.600 irere Marquette- b- --Aug 1,201,032 1,275,461
596,400
626,000
Denver & Rio Grande
321,284'•
587,535
4,396
' 27,546
31,942
Detroit & Mackinac
July 1 to Aug 31
2,258,248 2,455,818
629,105
..685,493
15,837
74,539
90,376
Duluth South Shore .fo Atlantic_
2,989 Plttsb Shawmut & Nor_ b50,406
Georgia Southern & Florida_ _ _
53,395
July 1 to June 30
,
831,716 1,011,059 dd54,378
232.846 •
•
Grand Trunk of Canada
113,178 Rio Grande Southern_b_Aug
1,050,600 1,163,778
Grand Trunk Western
51,444
20,919
52,996
1E052
July 1 to Aug 31
Detroit Grand Haven'& MIL
102,753
44,387
112.155
44;009
Canada Atlantic
Aug 5,334,127 5,647,125 1.613,714 1,533,560
Rock Island-a
International & Great Northern
33,000
245,000
212,000
' July 1 to Aug 31
10.013.'234 10,726.286 2,673,686 2.620,350
-9-7,051
Interoceanic of Mexico
103,347 • 200,398
St Louis & San Fran.a.Aug 3,993,644 4,670,790 1,120,463 1,260,711
9,471
Iowa Central
78,334
87,805
7,591,896 9,046,962 2,047,637 2,371,871
July 1 to Aug 31
Louisville & Nashville_-.
21,808
1.232,190 1,210,382
62,334
Mexican International
143,244
205,578
196,956
Evansv & Terre H_a__Aug
224,045
76.714
70,710
Mineral Range
104
26,843
July 1 to Aug 31
26,739
382.666
422.799
142,083
126,061
Minneapolis & St Louis_ _ _
26,851
107,387
134,238
Aug 9,524,728 10,541,961 2,880,891 2,864.981
Total all lines_a
119,641
Minneapolis St Paul & &SAL
444,198
324,557
17,987,706 20.196,048 4.863,406 5,127,282
July 1 to Aug 31
53,000
Missouri Pacific & Iron Mtn_ __ _ 1,395,000 1,448,000
St Jos & Grand Island_b_Aug 149,244
173,613
Central Branch
63,626
15,000
48,000
63,000
83.389
274,060
31
320,197
1
to
Aug
July
44,304
.
106.324
Mobile & Ohio.
'
349,246
148,134
304,942
118,533 z Seaboard Air Line_b_Aug 1,060,634 1.326.305
National RR of Mexico
311,238
429,771
212,855
302,077
828
is Hidalgo & North Eastern- _
22,397
21,569
2,246,987 2,617,166
July 1 to Aug 31
522,664
559,410
Nevada-California-Oregon
938
9,911
10,849
Southern Railway1,326
Rlo Grande Southern
15,369
16,695
12,312
921,980
739,188
Mobile
Aug
&
206,173
293,595
Ohlo-a
St Louis Southwestern
281,283
253.816
152,655
1,466,284 1,831,728
Ju.y 1 to Aug 31
396,658
1.339,155 1,491,810
Southern Railway
486,725
36,231
486,631
450,400
Texas .Se Paclfic
Alabama Great Sou _a_Aug 304,303
361,640
74,224
41,470
8,794
41,321
32,527
Toledo Peoria & Western
July 1 to Aug 31
723,627
597,926
143,398
110,471
29,459
90,904
61,445
Toledo St Louis & Western ___ _
Cin N 0 & Tex Pac_a_Aug
766,221
666,688
198,276
11,334
178,998
718,208
706,874
Wabash
' July 1 to Aug 31
1,299,869 1,537,156
387,527
319,220
13,176,990 13,692,382 429,454 944,846 Toledo & Ohlo Cent_a_ _Aug
438,224
457,138
Total (38 roads)
156,947
142,147
515,392
July
1
to
Aug
31
876,776
917,146
Net decrease (3.77%)
334,158
298,887
Tol St Louis & West_ a_ _Aug
321,429
401,338 p111,493 p123,527
July 1 to Aug 31
615,264
743,231
p204,996
p211,647
For the third week of September our final statement covers Wabash_ b
Aug 2,376.978 2,602.303
915,152 1.028,109
July 1 to Aug 31
4,454,955 4,912,161 1,542,644 1,778.086
39 roads and shows 4.25% decrease in the aggregate under
z Wisconsin Central_ b-Aug 669,472
728,664
268,467
266,184
the same week last year.
July 1 to Aug 31
1,321,121 1,477,589
514,682
578,442
Yazoo & Miss Valley_a_ _Aug 637,647
796,802 def.67,654 def.3,972
1908.
July 1 to Aug 31
1907.
Increpse. Decrease.
1,222,198 1,517,916 df.2(12,347 def.16,102
Thira 'reek of September.
1r
Previously reported (37 roads)Mexican Railway
Mexican Southern
9,459,088 9,837,827
101,500
149,300
23,271
22,193
293,796
Total (39 roads)
Net decrease (4.25%)
9,583,859 10.000,320
294,874
672,535
47,800
1,078
720,335
425,461
For the month of September the returns of 40 roads show
as follows:
Month of September.
1908.
1907.
Decrease.
%
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
a These results are in Mexican currency.
p For Athrust miscellaneous charges and credits to income was $13.341,
against $9,467 in 1907, and for period from July 1 to Aug. 31 was $29,596
In 1908, against $18,825 in 1907.
r For August 1908 net from Coal Department was $78,797, against
$63,961 last year, and from Jan. 1 to Aug. 31 was $605,345 in 1908, against
$736,644.
s After allowing for miscellaneous charges and credits to Income for the
month of August 1908: total net earnings were $450.793, against $399,892
last year, and for period from July 1 to Aug. 31 were 2908,657 this year.
against 2690,436.
x These figures are on the basis of accounting required by the Inter-State
Commerce Commission.
Interest Charges and Surplus.-The following roads, in
addition to their gross and net earnings given in the foregoing,
charges for interest, &c., with the surplus above
It will be seen that there is a loss on the roads reporting also report
or deficit below these charges.
in the amount of $1,938,989, or 4.08%
-Int.Rentals, &c.- -Bat. of Net E'ngs.Current
Previous
Current
Previous
Net Earnings Monthly to Latest Dates.-The table folYear.
Year.
Year.
Year.
Roads.
1
$
.3
$
lowing shows the gross and net earnings of STEAM railroads Bridgeton & Saco River_Aug
593
593
2,040
2,399
1,187
July 1 to Aug 31
1,187
3,858
reported this week. A full detailed statement, including all
4,278
556,222
Central of New Jersey..__Aug
614.021
368,740
576,783
roads from which monthly returns can be obtained, is given
1,092,901 1,217,073
July 1 to Aug 31
767,324 1,129,091
31,350
Aug
30,647
once a month in these columns, and the latest statement of Colorado Midland
c6,315
c4,902
62,700
61,294
July 1 to Aug 31
c18,011
c30,530
this kind will be found in the issue of Sept. 26 1908. The Cuyahoga Telephone Co_Aug
11,283
11,250
25,890
18,357
next will appear in the issue of Oct. 24.
Duluth So Sh de Atl
Aug
94,926 zdf.19,528
92.897
z18,505
Gross earnings (40 roads)
45,567.453 47,506,442 1,04989
4.08
-Gross Earnings--- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
Roads.
$
$
8
2.992
5,778
Bridgeton at Saco Riv_b_Aug
2,633
6,537
5,465
11,147
'5.045
July 1 to Aug 31
11,882
924,962 1,100,804
Central of New jersey_ b_Aug 2,159,942 2,557,130
4,316.666 5,100,786 1,860,225 2,346,164
July 1 to Aug 31
1,042
1,142
11,146
Chattanooga South- _ _a_July
15,081
s530,652
s381,208
Chicago & Alton_a
Aug 1,150,976 1.129,395
s665,357
July 1 to Aug 31
2,208,012 2,128,803 s1,016,642
zChic Burl & Zwincy.b_Aug 6,918,604 7,553,214 2,483,479 2,764,721
July 1 to Aug 31
13,189,767 14,447,156 4,517,028 5,276,609
113,783
z Chic Great Western _ b_July 613,762
155,583
714,212
xCinc Ham & Dayt_ b_Aug 728,444
195,941
208,892
875,892
July 1 to Aug 31
365,822
318,904
1,383,346 1,674,879
Colorado
46,079
45,211
--Aug 202,023
217,701
to Aug 31
July 1Midland..a.108,247
97,038
443,601
395,372
Cuyahoga Telephone Co_Aug
00,776
37,173
65,875
29,607
r677,782
Delaware & Hudson_ b-Aug 1,566,459 1,931,955
r851.384
Jan 1 to Aug 31
11,860.410 13,137,866 r4,495,345 r5.001,533
z Delaware Lack & W_b_Aug 2,616,370 3,265,557 1,081,717 1,536,945
5,475,609 6,292,575 2,324,250 2,884,728
July 1 to Aug 31
60,632
222,549
Dul So Shore & Atl.b-Aug
333,139
103,726
448,664
122,383
663,051
210,573
July 1 to Aug 31
245
1,681
Fairchild & Northe'n_ b_Aug
1.197
deft.525
3,195
549
2.769
def1,294
July 1 to Aug 31
Aug 4,662,619 5,280.578
704.723
981,306
Illinois Central-a
8,915,876 10,392,515 1,383,530 2,090,606
July 1 to Aug 31
513,916
152,957
g Interoceanloot Mexleo_Aug
617,407
151,295
1,058,358 1,223,171
310,437
293,693
July 1 to Aug 31
207,173
Kanawha de MIchlgan..a..Aug
214,068
22.292
46.473
409,080
416,699
52.524
104.680
July 1 to Aug 31
3,283
Sep
4,554 def.2,353 def.5,609
Manistqlue.b
43,004
50,354 def.2,711 def.7.287
Jan 1 to Sep 30
z Maine Centrtl_b
325,238
816,190
227,742
July 722,309
594,912
I Mexican International_Aug
250,734
789.073
244,982
1.151,503 1.557,603
July 1 to Aug. 31
473,393
447,305
72,380
Mineral Range_ b
76,294
16,343
21,720
Aug
July 1 to Aug 31
148,632
146,207
29,272
36,802
J .ly 1 to Aug 31
Kanawha & Michigan_ _Aug
July 1 to Aug 31
Mineral Range
Aug
July 1 to Aug 31
N Y Ont &
_ _Aug
July 1 to
WesternAug 31
Pittsb Shawmut & NorJuly 1 to June 30
Rio Grande Southern,- _Aug
Juy 1 to Aug 31
Toledo & Ohio Central_ _Aug
July 1 to Aug 31
185,130
23,082
46,162
12,810
25,588
91,405
172,575
192,257 zdf.37,306
21,176
z22,365
43,074
311,689
11,955
x3,555
z3.706
24,591
73,740
281,886
143.278
496,161
165,522
18,906
37,754
39,941
80,326
678,157
21.129
41,057
38,795
80,006
x36.532
x22.552
z38.980
z9,864
z13,653
331,459
585,068
x def 83zdef437,646
z2.069 zdef.2,871
x10,909
x6,972
x113,000 x126,406
z256,013
x246,158
c After allowing for miscellaneous charges and credits to Income.
z Alter allowing for other Income received.
STREET RAILWAY AND TRACTION COMPANIES.
Latest Gross Earnings.
Name of
Road.
Week or
Morah.
Current Previous
Year.
Year.
Jan. 1 to latest date.
Current
Previous
Year. I
Year.
$
$
$
$
254.370 266.058 1,325.160 1,369.142
American Rys
__ June
Co_153,895 150,597
cAur Elgin & ChIclity
August
920,52
935.620
42,793 45,570
Bangor Ely & Wee Co August
172,532 185,770 1.408,13 1,405,716
Birm Ry Lt & Power August
Brockton & Ply St Ry July
15.956 17,452
67,08
65.908
10,279
Camaguey Co
August ___
74.21
6,638
49,240
21,334 23,145
Cape Breton Elec Co_ July
136,85
131.357
68,836 75.401
Central Penn Trac__ August
472,24
498,693
Chariest Con Ry G&E August
63.803 64,437
506,77
475.189
62.724 67,747
dehicago & Oak Park July
457.251
495.757
32.132 35.125 • 190,46
Cleve Palnesv & East August
192.712
f Detroit United Hy_ 4th wk Sep 168,220 185,619 5,283,52 5,347,529
22,224
Duluth Street Ry ___ 4th wk Sep
21,448
652,73
625,213
174,381 193.744 1,317,82 1.383.318
East St Louis & Sub.. August
40.821
El Paso Electric
41,637
301,29
July
275,309
37,960 34,794
Fairm & ClarksbTrCo August
Ft Wayne at Wabash
Valley Traction Co. August
125,587 125.118
856,25
811,890
Giilv-TP,IIR Men (In._ .Tilly
93.374 95.768
5119.156_. 586.426
Latest Gross Earnings.
Name or
Road.
Lxxxvii.
THE CHRONICLE
930
Week or
Month.
Grand Rapids Ry Co _ August ___
Havana Electric Ry_ Wk Oct 4_
Honolulu Rapid Tra
August
& Land Co
Houghton Co St Ry_ _ July
Illinois Traction Co_ _ August
Jacksonville Elec Co_ July
Kansas City fly & Lt August
Knoxville By & Lt Co August
Lake Shore Electric June
Lex & Inter Rys Co _ _ August
Little R'k Ry as El Co August
Memphis Street Ry_ _ August
Metrop West Side El.. September
Milw Elec By & Lt Co August
Milw Lt Ht & Tr Co_ _ August
Montreal Street Ry_ _ Wk Oct 3_
Nashville Ry & Light August
NJ & HR Ry & Ey Co September
North Ohio Trac & Lt August
North Texas Elec Co_ July
Norf ds Portsm Tr Co August
No Westchester Lt Co August
Northwestern Elev September
August
Oklahoma City Ry
Peekskill Light & RR August
Portland By L & P Co'August
Porto Rico Rys Co__ _ August
Rio de Janeiro Tram
Light & Power___ _ August
St Joseph (Mo) Ry Lt ,
Heat & Power Co_ _ September
Sao Paulo Tr Lt & P.. August
Savannah Electric Co ,July
Seattle Electric Co_ _ _ July
South Side Elevate& September
Sou Wisconsin Ry Co July
Springfield Ry&Lt Co August
Syracuse Rap Tr By August
July
Tampa Electric Co
Toledo Rys & Light_ August
Toronto Railway_ _ _ _ Wk Oct 3_
Twin City Rap Tran_ 4th wk Sep
k Underground El By
of LondonWk Sep 26
Three tube lines_
Metropolitan Dist_ Wk Sep 26
United Tramways_ Wk Sep 26
United RRs of San Fr August
United Rys of St L.._ August
Whatoom Go By & Lt July
Jan. 1 to latest date.
Current Previous Current
Year.
Year.
Year.
$
91,289
34,030
30,565
26,300
359,753
35,559
537,499
49,246
78,827
63,246
56,868
141,192
197,031
337,966
104,718
70,914
127,796
51,907
209,742
98,983
1174,872
9,559
158,550
28,616
16,864
365,849
35,427
Previous
Year.
$
$
$
92,715
36,300 1,439,432 1,349,419
29,679
250,079
26,330
147,611
341,598 2,615,543
34,537
246,192
523,641 4,042,354
54,856
373,066
83,554
386,267
59,085
402,540
54,653
441,162
144,515 1,056,721
211,468 1,909,492
337,439 2,531,747
100,796
565,721
73,827 2,763,904
131,196 1,015,783
46,545
410,887
216,146 1,247,877
96,933
307,487 11,232,295
8,706
76,529
146,170 1,408,471
26,732
177,000
16,760
107,473
359,347 2,848,821
29,483
243,152
Total operating expenses
$8,981,624 $9,594,206
Net operating revenues
$4,392,179 $4,686,329
407,101
335,196
239,566 Taxes
140,493
Operating income
$4,056,984 $4,279,228
2,377,516
$355,733
226,936 Other income*
3,905,060
Total net income
$4,634,961
394,249
$2,463,058
401,514 Interest on bonds, equipment obligations, &c
340,000
361,588 Dividend on first preferred stock, 4%
340,000
409,781 Dividend on second preferred stock,4%
1,057,772
Balance, surplus for year
$1,491,903
2,014,335
2,495,290 --*
Other income is made up as follows: Income from lavestraents, $496,542,033
discount
and
exchange, $70,400; Insurance commissions,
2,692,005 389; Interest,
1,001,275 $2,788; outside operations, $5,466; rentals, $5,054; total, $680,O06; less
•
369,413 hire of equipment, $224,363; balance, $355,733.
1,274,443
BALANCE SHEET JUNE 30.
1,681.686
68,355
1,261,949
170,661
108,992
2,563,966
227,762
641,807 556,784 4,595,811 4,088,614
94,991
179,921
33,455
366,481
174,735
15,512
62,620
106,198
45,192
212,318
67,655
154,374
80,641
168,993
55,452
369,133
177,484
16,666
66,440
107,982
42,515
221,261
66,799
147,707
672,230
650,564
1,501,294 1,357,177
335,849
339,089
2,531,530 2,271,148
1,586,677 1,459,131
88,953
89,426
843,488
814,044
317,149
295,877
1,641,930 1,679,636
4,760,600 4,537,667
£12,270
£8,940 £449,205 £277,315
£9,802
£7,755 £348,812 £303,257
17,359 £7,417 £261,330 :,259,456
576,700 317,769 4,486,909 3,013,295
911,515 956,240 6,973,280 7,185,730
29,123 30,394
202,371
194,823
c These figures are for consolidated company. d These are results for
main line. I No earn ngs for Detroit Jackson & Chicago Ry. for Jan. 1907
Included in these figures. k Does not Include the Charing Cross Euston
& Hampstead Ry. for first six months of 1907. ;Decrease due to Jamestown Exposition last year.
Street Railway Net Earnings.-The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Oct. 3 1908. The next
will appear in the issue of Oct. 31 1908.
-Gross Earnings
- -Net Earnings
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
Roads.
Auburn & Syracuse. 96,062
Apr 1 to June 30
537,499
Kan City By & Lt Cob Aug
1,576,543
June 1 to Aug 31
94,991
St Jos By Lt Ht & Pow_Sept
672,230
Jan 1 to Sept 30
Savannah Elect Co __b_July
53,455
Jan 1 to July 31
835,849
89,455
523,641
1,552,902
80,641
650,564
55,452
339,089
41,689
230,890
653,736
55,086
329.451
20,691
95,133
36,268
260,411
742,885
42,972
319,847
21,851
122,773
a Net earnings here given are after deducting taxes.
b Net earniags here given are before deducting taxes.
Interest Charges and Surplus.
Roads.
Auburn. & SyracuseApr 1 to June 3$
Kansas City Ry & Lt---Aug
June 1 to Aug 31
July
Savannah Elect Co
Jan 1 to July 31
-ml., Rentals. ctc.- -Bat. of Net E'ngs.Current
Current
Previous
Previous
Year.
Year.
Year.
Year.
$
35,298
155,540
465,349
15,841
100,697
28,462
155,906
463,734
15,025
93,251
x6,931
75,350
188,387
4,850
def5,584
x8,606
104,505
279,151
6,826
29,522
x After allowing for other income received.
ANNUAL REPORTS.
Colorado 85 Southern Ry.
(Report for Fiscal Year ending June 30 1908.)
On subsequent pages will be found the remarks of President
Frank Trumbull and the income account showing the operations of the system, balance sheet, &c. Below we give comparative income account, balance sheet and operating statistics:
OPERATING STATISTICS.
1907-08.
1906-07.
1905-06.
1,932
1,758
Average miles operated
Operations2,935,266
2,801,699
Revenue passengers carried
2,563,228
Revenue passengers carried one mile .140,350,114 130,033,332 107,821,621
2.42 cts.
2.53 cts.
Rate per passenger per mile
6,683,576
7,090,901
Revenue freight (tons)
6,245,948
882,875,346 926,369,954 837,842,752
Revenue freight (tons) one mile
1.0432.7
eta.
1.134 cts.
Rate per ton per mile
257.13
Average revenue train load (tons)- - Earnings per passenger train mile__ - $7
$
32
,10;0
Earnings per freight train mile
))
2
13
8
17
4
12
,
13..9
$7
6
$2
Operating revenues per mile
INTER-STATE COMMERCE COMMISSION CLASSIFICATION.
Operating revenues-1906-07.
1907-08.
Freight _____________________________________ $9,661,407 $10,011,749
Passenger ________________ 3,146,107
3,549,196
566,290
Express, mall and miscellaneous
719,590
Total operating revenues
1907-08.
1006-07.
$2,311,929 $2,041,563
2,124,148
1,833,661
276,795
254,987
4,657,528
4,183,453
494,172
397,590
ExpensesMaintenance of way and structures
Maintenance of equipment
Traffic expenses
Transportaticn expenses
General expenses
$13,373,804 $14,280,535
1908.
1907.
1908.
1907.
AssetsLiabilities1st pref. stock_ 8,500,009 8,500,000
Cost of road and
84,425,074 81,824,591 2d pref. stock__ 8,500,000 8,500,000
equipment
New equipment_ 9,192,560 8,900,671 Common stock_ 31.000,000 31,000,000
Improvements _ 3,000,902 2,057,092 Stocks controlled
1,713,804
cos.not owned
Bonds in trees__ a6,074,571
e94,722
503,197
Funded debt(see
Ref.& ext.M.bds.
864,629
465,359
Ity.&Ind. cc.) 56,724,116 50,467,917
held for bett's
Equipment bds.
Secur. of other
and leases...__ 2,823,394
cos. at cost___b11,732,190 10,211,347
2,928,789
Bills payable__ 2,500,000
Constr. adv. to
1,140,185
Vouchers
Gal. Ter. By.. c395,591
706,662
802,947
Pay-rolls
Constr. eaodsv _to_
622,889
576,643
d893,778
1,373,305 Foreign roads.._
other
267,449
383,652
Material &supp. 1,090,682
1,378,741 Int. on bonds
629,912
1,794,334
due & unpaid_
103,367
Cash
92,925
612,203
575,753 Intacer.,not due
Individ's & cos_
680,160
538,118
269,069
33
00
1:2
28
98
4 Taxes accrued__
284,642
Agents & conduc
279,342
55,778
Reserves
327,634
U.S. Governm't
392,378
141,042
60,68$
Traffic balances.
112,027 Miscellaneous _
27,775
27,520 Accrued for reBills receivable_
newals
Am. int. on se117,562
Profit and loss__ 6,838.852 4,699,268
curities owned
255,029
Special funds__
48,794
40,988
Miscellaneous __
40,733
31,022
Total
119,722,537 110,883,136
Total
119,722.637 110,838,136
a Bonds in treasury in 1908 include: Col. & South. lit M. bends, par value,
5300,000; C. & S. ref. and ext. M. bonds (including $258,728 la hands of trustee
delivered to Treasurer July 3 1908), par value, $5,346,571; Fort Worth & Denver
Terminal Hy., $428,000.
b Securities of other companies held, see table on a subsequent page.
c Galveston Terminal By. Co. holds In treasury 51,10(1,000 of its frst mortgage
gold bonds, out of which liabilities for construction and acquisition of property will
be discharged.
d Includes Walsenburg & Western,$19,908; Dallas Terminals, $169,4126; Trinity
& Brazos Valley, 6380,000; Houston Belt & Terminal By., 6229 260; Alvord BR
$94,994.
e Includes Colorado Springs
Cripple Creek District By., $900; Fort Worth &
Denver City By., including $85,772 "stamped," $88,822; Wichita Valley By.,
$900; Col. HR. Co., $500; Wichita Falls & Oklahoma Hy. Co., 8900; Wichita
Valley RR. Co., $900: Abilene. & Northern By. Co., $900; Port Worth & Denver
Terminal Ry. Co., $900.-V. 87. p. 341, 414.
Northern Pacific Railway.
(Report for Fiscal Year ending June 30 1908.)
Below we give the income account as appearing in the
pamphlet report, prepared in acegrdance with the new
classification prescribed by the Inter-state Commerce Commission,the accounts for the year 1906-07 having been re-cast
for purposes of comparison. The text and further data will
be given another week.
iNCOME
ACCOUNT-INTER-STATE:COMMEROB CLABSTFICATION,
Increase (4.).
1907-08.
1906-07. Or Dec.(-).
Operating Revenue$46,423,836 647,650,369 -$1,226,533
Freight
18,133.238 16,320,861 +1,812,377
Passenger
3,002,961
+121,347
Other revenue from transportation_ 3,124,315
$67,681,390 566,974,199
Total
554,095
4101,436
Revenue other than transportation_
+6707,190
+62,656
$68,235,484 $67,465,636
Total operating revenue
$12,113
Per mile (average)
$12,393
Operating ExpensesMaintenance of way and structures.. $8,984,356 $0,331,396
8,436,767
6,778,945
Maintena cc of equipment
808,447
Traffic expenses
734,684
20,743,429 19,901,787
Transportation expenses
892,034
General expenses
974,429
+8769,849
-$280
-$347,040
+2.657,821
+73,794
+841,642
-82,395
$39,865,033 $36,721,212 +$3,143,821
Total operating expenses
(58.42%) (54.43%) (+3.99%)
Per cent oper. exp. to oper. rev
$28,370,451 630,744,423 -$2,373,972
Net operating revenue
Sleeping, parlor, observation, dining
640,925
and cafe cars, and restaurants...530,669
+110,356
$29,011,377 631,274,092 --$2.263,615
2,717,486
2,398,719
+318,767
Total net revenue
Taxes accrued
Operating income
826,293,891 $28,876,273 --$2,582,382
Dividends and interest on securities,
2,876,790 +1,127,200
int. on depos. & rentals received._ 4,003,998
Gross income
$30,297,889 $31,753,072 -$1,455,183
DeductHire of equipment
$879,256 -$982,747
Cr.$103,491
+56,983
Rentals paid
245,539
302,522
+104,287
Interest on funded debt
6,994,820
7,098,008
Interest and commissions on new
159,727 +2,947,156
stock subscriptions
3,106,883
Dividends on stock,7%
10,850,000 10,850,000
Total
$21,254,821 $19,129,143 +82,125,678
Net income for the year _ _
$9,043,068 $12,623,929 -$3,580,861
5,92d,751 -5,926,753
Appropriation for deprec. of equip__
+2,784,950
Apporpriation for insurance fund
2,784,950
60,258,118 $6,697,176 -6439,058
RESULTS OF PREVIOUS YEARS-OLD BASIS.
1904-06.
1905-06.
Years end. June 301003-04.
1906-07.
5,315
5,401
Average miles operated5,262
5,444
Passenger earnings
$16,924,188 $14,368,221 $11,335,852 $11,105,753
Freight earnings
48,395,878 44,041,467 36,861,132 32,998,921
2,813,788
2,525,902
Mall, express, &c
2,419,900
3,214,766
Net surplus for the year
Gross earnings
Net earnings
$68,534,832 $61,223,476 350,722,888 $46,524,574
$30,870,515 $30,128,043 $23,914,121 $22,290,031
1906-07.
Deduct
$2,398,719
Taxes
160,469
Rentals, &c
Depreciation of ecitlipl_ *5,926,752
Insurance fund
1905-06.
$2,213,040
160,469
2,000,000
1,081,980
1904-05.
$1,601,000
160,469
1003-04.
$1,462,775
158,369
Net operating income.$22,384,574 $24,672,554 $22,152,658 $20,668,887
1,483,354
1,921,567
1,719,348
2,338,324
:Misc., excl. land sales
$22,152,241
Balance for interest_424,722,898 $26,391.900 $24,074,225
6,922,930
6,047.983
6,986,140
7,175,722
Interest, &c
10,849,989
Dividend on stock, 7%. 10,850,000 10,850,000 10,850,000
$4,379,322
Bal.,Burp.for year__ _ $6,697,176 $8,555,760 $6,276,241
--of comparison.
* Charged to profit and loss, but shown for purposes
BALANCE SHEET JUNE 30.
1907.
1908.
1907.
1908.
Ltabtlitte,sAssetsNor.Pac.estate.a332,327,241 311,575,981 Common stock 155.000,000 155,000,000
recta.
Equipment ____ 39,484,864 37,138,636 Subscrip.
Ns. for new stk. 62,881,836 14,721,100
Coll, with trust's
Mortgage debt...282,499,500 281,530,500
Nor. Pac.-0t.
Nor.joint bds.109,114,310 109,114,310 Bonds of other
cos. assumed_ 15,353,239 12,785,876
1,618,329
984,055
Sinking fund___
34,900,705 11,899,998 Pay-rolls, mateCash
rial, vouchers,
6,705,965
0,908,679
Accts. receivable
6,375,720 10,385.971
&c
25,045
191,118
Bills receivable_
1,538,391
1,955,409
Material on hand 6,113,388 5,889,931 Taxes accrued
1,678,276
Tress. seeurities.017,274,570 16,433,756 Int. on bonds_.. 1,707,612
2,714,354
2,714,354
Dividends
C Construe. advs.
9,416.028 6,309,767
to other roads. 30,563,498 19,641,441 Reserve funds
Insurance fund_ 5,000,000 2,120,460
Bett.& equip. td.
65,499
65,499
L's'd to Man't'a. 7,000,000 7,000,000 Liquidation f'd_
Profit and loss__ 50,611,365 44,595,707
trustee
Coltwith
St. P.-Duluth
1,405,774
Div. bonds_ __ 1,352,847
Insurance fund_ 5,000,000 2,120,460
2,876,275
Land departra't. 2,365,197
Total
593,580,563 533,445,901
Total
593,580,563 533,445,901
a Northern Pacific estate June 30 1908 includes, In addition to net cost of
new mileage, improvements, real estate, dec., since June 30 1907, $17,196,494, the cost of additions and betterments since June 30 1907, $3,554,765.
b These con lit of the to lowing bonds and stocks:
Par Value. Book Value.
$733,398
$983,000
Northern Pacific general lien bonds
1,553,472
1,552,000
Northern Pacific prior lien bonds
2,119,994
2,154,000
Northern Pacific-Great Northern joint bonds
361,000
361,000
St. Paul-Duluth Division bonds
7,000.000
7,000,000
Northwestern Improvement Co. bonds
2,775,000
2,775,000
Northwestern Improvement Co.stock
291,375
315 000
Washington Central Ry. Co. bonds
221,279
1,000,000
Washington Central Ry.stock
2,127,200
2,127,200
Clearwater Short Line Ry.stock
32,001
71,800
Lake Superior Terminal & Transfer Ry. stock
59,850
59,850
St. Paul Unioa Depot Co. stock
c Construction advances n 1908 were: To Spokane Portland & Seatt e
Ry. Co.. $26,514,893: Cearwater Short Line-Joint Line, $3,366,415; Big
Fork & International Falls Ry. Co., $682,190.--V. 86, p. 286.
St. Louis Southwestern Railway.
(Report for Fiscal Year ended June 30 1908.)
President Edwin Gould, New York, Sept. 16 1908,wrote:
Notwithstanding the general business depression prevailing during a
greater portion of the fiscal year under review, your company has been able
to meet all of its operating expenses, fixed charges and interest in full on
the second mortgage Income bonds outstanding in hands of the public:
closing the year with a surplus over all charges of $231,026, as compared
with $1,571,497 for the preceding year.
While forced to practice rigid economy in many directions, the roadway,
bridges, buildings and equipment have not only been fully maintained,
but the condition thereof substantially improved. At the close of the
year your company had no floating debt, but, on the other hand, its current
or working assets were largely In excess of its current liabilities.
Bonds, etc.-First consolidated mortgage bonds have been Issued to a
total of $1,463,800, viz.:
For purchase (from Lufkin 'Land & Lumber Co.) of extension of
$310,000
15.53 miles of Lufkin branch
To reimburse the treasury for advances for additions and better1,153,800
ments to existing lines
First consolidated mortgage bonds to the par value of $3,147,800 are
held in the treasury subject to future sale. The full amount of the first
consols authorized under the mortgage have now been Issued, ex ept those
reserved to acquire the outstanding second mortgage income bond certificates. The amount of the bonds thus reserved is $2,934,450.
The $414,000 first mortgage bonds of the Shreveport Bridge & Terminal
Co., guaranteed by the St. L. S.-W. Ry. Co., being merely a contingent
liability of the railway c . are no longer carried on the latter's books.
Tho Gray's Point Terminal Ry. Co., which is operated by your company
under a 50-year lease, was indebted to the latter on June 30 1908 for construction of additional terminal facilities at Illmo., Mo., In the sum of
$388,484. Your company also holds In Its treasury $600,000 first mortgage bonds of the Southern Illinois & Missouri Bridge Co., which owns
and operates the bridge spanning the Mississippi River between Thebes,
III., and Illmo, Mo.
Vice-President and General Manager F. H. Britton,
Sept. 4 1908 said in part:
Mileage.-The average number of miles of main track operated was
1,464.2, a net increase of 12 miles.
Change in AccountIng.-For purposes of comparison, the results for the
preceding year have been re-classified, as to totals, on the same basis
as adopted in 1907-08, with the following mportant exception: In accordance with Lae rules of the Inter-State Commerce Commission, operating
expenses now Include charges for depreciation on all classes of equipment,
the aggregate amount of such charges having been credited equipment and
replacement account; whereas, operating expenses for the preceding year
do not include similar charges, none having been made.
General Results.-The decrease In operating revenues Is mainly attributable to the general business depression and to a shortage In the cotton crop
for the season 1907-08. Passenger revenue was materially reduced by the
enforcement of the two-cent fare laws enacted in Arkansas, Missouri and
Illinois, while freight revenue was noticeably affected by rates prescribed
by the various commissions. From July to October 1907, inclusive,
there was a substantial increase In operating revenues over the corresponding period of the preceding year. but beginning with November, traffic
decreased and the gain previously made was lost, the net result for the
year being a decrease of $676,290.
Continued efforts have been made by the management to develop the
agricultural resources of the territory tributary to the line. Approximately 3,000 carloads of early vegetables and fruits from East Texas were
handled by the company during May and June 1908, which was double the
volume of this class of traffic heretofore moved from that territory.
Rates.-An Improvement is now manifest In the general situation and the
railroads appear to be In a better position to• reach a satisfactory understanding- with the public.
During August 1908 this company and other lines operating In Arkansas
petitioned the United States Court for relief against the enforcement of the
educed freight and passenger rates prescribed by that State. A temporary
restraining order was issued on Sept. 3 1908 suspending these rates.
The final hearing In the matter of the freight and passenger rate reductions made by the State of Missouri, which are being contested by the
railroads of that State, is set for Oct. 5 1008 in the United States Court.
Operating Ezpenses.-The total operating expenses for the year Increased
4497,448. Of this amount $331,971 represents charges for depreciation on
equipment made during the current fiscal year in compliance with the rules
prescribed by the Inter-State Commerce Commission.
The property has been well maintained, as indicated by Increases in the
followinglitems of expense as compared with the preceding year:
931
THE CHRONICLE
00T. 10 19025.1
Ties-Increased number placed In track, cross-ties 201.736, switch$137,040
ties (sets) 207; amount of Increase
56,696
Bridges, trestles and culverts-Repairs and renewals of; Increase
52,539
Locomotives and cars-Repairs, Increase
comrailroad
State
and
legislatures
of
the
State
several
action
The
missions requiring additional passenger train service, additional station
buildings, equipment of locomotives with electric headlights, and the employment of additional men on trains has served to Increase the expense o
operation. Likewise the Act of Congress providing for reduction In th
hours of labor for telegraphers and train employees has had the same effect.
The advance In wages of employees generally, early In 1907, and flood
losses occurr ng during May and June 1908, the latter approximating
$40,000, were also additional items of increased expense.
Taxes accrued showed an increase of $50,285, or 20.6%.
Additions and Betterments.-Expendltures for additions and betterments,
for which the treasury was reimbursed by the Issuance of first consolidated
mortgage bonds, amounted to $686,146. In addition there was advanced
from the treasury for additions and betterments to existing lines $157.758.
for which no bonds have been issued.
Character of Steel Rail in Main Track June 30.
Total.
85-lb. 75-1b. 70-lb. 60-15. 56-15. 35-lb.
Miles8.95 824.23 30.67 6.15 422.50 33.35 1,325.85
190
8.95 823.83 30.67 6.15 406.98 33.55 1,310.11
1907
8.95 708.48 30.67 6.15 519.21 33.94 1,307.40
8.95 617.04 30.67 6.15 610.65 33.94 1,307.40
0
1199056
Ballast and Bridges in Main Track June 30,
Total.
Gravel. Cinders. Nat. Soil. Beges. Trestles,
Rock.
1.47
48.34
388.48
84.07
1.325.85
628.64
8iles- 174.85
M
190
1,310.10
48.06
1.37
401.53
70.89
634.94
153.32
1907
1,307.41
48.01
1.30
428.91
72.32
610.08
146.78
1906
1,307.40
48.07
1.25
429.27
68.02
639.04
121.75
1905
Statistics of Operation.-Operations, earnings, charges,
&c., have been:
OPERATIONS, EARNINGS, EXPENSES, CHARGES. ea.
1904-05.
1905-08.
1906-07.
1907-08.
1,452
1,452
1,418
1,464
Average miles operated_
Operations1,436,149
1,670,502
2,077,082
2,261,965
Passengers carried
Passengers carried 1 mile 86,540,407 83,274,470 71,869,707 83,286,676
2.42 cts.
2.19 eta.
Rate per pass. per mile_
2,802,522
2,855,520
3,075,230
2,944,168
Tons freight moved*
do 1 mile* _709,010,635 736,752,813 633.297,713 013,965,742
do
1.05 cts.
1.01 cts.
Rate per ton per mile*
31.1243
Earns. per pass. train m. $1.0815
$2.9269
32.6549
Earns, per freight tr. m
$7,066
$6,546
Gross earnings per mile_
*Not Including company's freight.
INTER-STATE COMMERCE COMMISSION CLASSIFICATION.
Inc.(+) or
Dec.
1906-01.
1907-08.
$
$
Operating Income1,924,5151
Passenger
7,173,799 10.201.336 -676.290
Freight
416,417
Mall, express, &c
70,315
Rev,other than from transportation_
Total operating revenues
ExpensesMaintenance of way and structures_ _
*Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
9,585,046
10,261.334
-076,290
1,801,026
1,583,777
345,782
3,368,238
384,337
6.985,892
+497,448
Total operating expenses
Net operating revenue
Not from dining and spec'l car service
7,483,140
2,101,906
a4,900
+497,448
6,985,693
3,275,644 -1.173.737
+1,339
3,561
Total net revenue
Taxes accrued
2,097,005
293,788
3.272,083 -1.175.078
+50,285
243.501
Total operating Income
Hire of equipment-balance
Joint facilities and miscellaneous rents
Interest on investments, ecc
3.028,581 -1,225,381
1,803,219
302,6331
+105,124
539.778
119,364)
222,902)
+105,124
539,775
844,899
3,566,350 -1,120,237
2,448,119
Total net income
Deduct+88.960
1,551,323
Int. on first and cons. mtge. bonds..- 1,640,283
130,420
130,420
Int. on 2d M.Inc. bds. held by public
70,189
Other interest and miscellaneous_ +53,100
304,491
25,000}
Rents-leased roads
262,402
Rents-joint facilities, ec:
+142,061
1,986,234
2,128,295
Total deductions
319,824
1.582.122 -1,262,298
Balance, surplus for year
to
depreciation
for
In
1907
$331,971
includes
*Maintenance of equipment
provide a fund for replacement when retired as prescribed by Inter-State
Commerce Commission, no such charge being Included In 1906-07.
a Revenues from outside operations 1121907-08 over $14,555 and expenses
$19,455; net deficit $4,900.
RESULTS FOR PREVIOUS YEARS-OLD BASIS.
1903-04.
1904-05.
1905-06.
Year ending June 30- 1906-07.
$10,553,135 $8,989,564 $3,860,231 $7.649,485
Gross earnings
6,421,597
6,219.373
6,699,444
Operating expenses.._.. _ 7,196,103
$3.357,032 $2,290,120 $2,640,853 $2,227,888
Net earnings
Total net, incl. 0th. Inc_ $3,564,681 $2,452,707 $2,823,833 $2,304,357
174,515
218,195
248,173
243,501
Taxes
1,304,600
1.373,070
1,476,260
Int. on 1st & cons. mtges. 1,551,323
130,420
130,420
130,420
130,420
Int. on 2d mtge. bonds_
156,414
58.329
31,213
57,313
Rentals, &o
$338,408
$566,635 $1,043,822
Bal. over al/ payments 31,582,122
CONDENSED BALANCE SHEET JUNE 30.
1906.
1905.
1907.
1908.
$
$
$
$
AssetsRoad and equipment...... 73,722,714 72,850,20$ 71.105.451 99,724,452
Additions and. better157,758
ments unfunded
900,000
800,000
500,000
500,000
Gray's Point Term'l By..
Shreve. Br. & Term.
350,000
414,000
usage rights
6,599,308
9,739,833
6,016,328
6,016,328
Trust equipment
Investments in stocks
2,331,987
3,444,362
4,516,159
5,808,919
and bonds
894,192
1,089,553
1,594.028
1,367,881
Advances
1,341,481
853,482
788,744
1,369,229
Cash
849,481
1,199,056
2,436,680
Accounts collectible-.. _ _ 2,128,080
657,838
1,421,292
949.077
Supplies and materials.... 1,215,324
61,214
57,504
55,530
85,919
Miscellaneous
92,372,153 90,592,970 85,288,384 81,959,953
Total
Liabilities20,000,000 20,000,000 20,000,000 20,000,000
Preferred stock
16,500,000 16,500,000 16,500,900 16,500,000
Common stock
Bonds (see "Railway /lc
Industrial" section) *46,295,545 44,776,250 42,233,250 39.275,250
236,054
387,030
774,114
521,064
Reserve funds
1,058,334
193,000
469,495
Equipment trust notes..
469,799
469,806
475,826
482,114
Interest on bonds
1,275,361
1,773,365
2,792,213
2,540,617
Sundry accts. payable
3.145.155
3.731,933
5,303,430
Credit of income account 5,534,456
92,372,153 90,592,970 85.288,384 81.959,953
Total
*The $414,000 Shreveport Bridge & Terminal bonds, whose principal
and interest are guaranteed, included In the bonded debt In former years,
are omitted In 1907 -08, since the liability is a contingent one.-V. 87, p.
81,1, 409.
932
;
THE CHRONICLE
Illinois Central Railroad.
Report.for Fiscal Year ending June 30 1908.)
The full text of the remarks of President J. T. Harahan
is given on subsequent pages; also the comparative income
accountfor two years on the new basis prescribed by the InterState Commerce Commission, comparative balance sheet
for two years, and numerous tables, including comparative
traffic and operating results, details of expenditures foir
additions and betterments during the fiscal year, &c.V. 87, p. 740.
LiabilitiesCapital stock (see "Ry.
& Ind." Section) ____
Bonds (see "Ry. & Ind."
Section)
Real eState mortgage_
Notes payable
Premium on B. & M.
stock sold
Prem. on bonds sold
Current bills
Unpaid wages
to be issued
To pay B.&L.RR. bonds
Due cos., idly., &c __
Divs. and int. unclaimed
Accrued int. & rentals__
Rent leased roads July 1
Bond Interest due July 1
Div. on com. stk. July 1
Lease acc'ts,sundry RRs
Injury fund
Contingent fund
Suspense account
Sinking funds
Accrued taxes
Profit and loss
1-• Ann% bonds
Yazoo & Mississippi Valley Railroad.
4Report for Fiscal Year ending June 30
1908.)
The report" of President Harahan is given at length on
subsequent pages; also comparative income account and
balance sheet for two years and important tables,including
comparative traffic results, expenditures for additions and
betterments during the year, &c.-V. 85, p. 804.
Total
Boston & Maine Railroad.
.(Report for Fiscal Year ending June 30
1908.)
*Does not include electric street railways, 42 miles.
INCOME ACCOUNT-INTER-STATE COMMERCE CLASSIFICATION
1906-07.
1907-08.
2,242
2,242
$
$
13,629,661 13,844,226
24,780,454 22,486,065
1,196,916
1,213.926
526,452
509,943
936,589
927,042
Total
• ExpensesMaintenance of way and structures
Maintenance of equipment
Traffic expenses_ __,
Transportation expenses
General expenses
41,060,525
38,990,749
5,030,341
4,887,257
484,863
19,168,968
644,291
4,756,446
4,760,813
512,662
18,621.959
702,317
Total
30,221,720
Per cent of operating expenses to earnings
(73.607)
Operating revenue
10,838,805
Net earnings street railways,steamboats,elev., &c.
64,069
29,354,197
(75.285)
9,636,552
65,722
10,902,874
1,674,835
9,702,274
1,712,273
Operating income
Income from rents
Income from stocks and bonds
Interest and miscellaneous
9,228,039
207,663
300,318
89,566
7,990,001
218,160
381,784
92,134
• Net income
DeductRentals of leased roads
Hire of equipment
Rent of tracks, yards and terminals
Interest accrued
Sinking fund payment
Additions and betterments charged to income
9,825,576
Taxes accrued
8,682,079
$5,183,515
902,701
45,677
1,769,905
28,785
80,537
Total
$8,011,120
Balance
Add contingent fund representing unappropriated surpluses for
years ended June 30 1907
$670,959
543,206
$1,214,165
$188,988
1,891,633
D vidends on preferred stock, 6%
Dividends on common stock, 7%
Balance, deficit. In 1907-08, paid from profit and loss
'$866,456
a Includes new equipment amounting to ;863,795 in 1908, agalnst $741,869 In 1006-07.
s ULTS FOR PREVIOUS
YEARS-OLD BASIS.
1906-07.
1904-05.
1905-06.
$13,584,164 $13,291,584 $12,530,472
25,367,938 23,847,550 21,808,070
2,173,154
2,075,069
1,874,703
Passenger, department
Freight department
Mails, express, &c
Total gross earnings
Net earnings
Net, incittding other income'
Deduct-,
-Interest
Rentals
Taxes
Dividends
Sinking fund
Improvements
$91,125,256 $39,214,203 $36,213,245
$10,156,859 $9,860,834 $9,593,505
$10,861,218 $10,482,919 $10,181,094
$1,445,512
5,112,890
1,674,836
1,973,332
28,785
493,249
$1,474,670
5.074,554
1,745,400
1,834,646
136,285
$1,486,169
5.069.578
1,605,490
1,806,646
136,285
$132,615
$217,273
GENERAL BALANCE SBEET JUNE 30.
1907.
1906.
1908
' Assets- . .
•
$
$$
Construction.& equIpm't 64,302,383
7,294,454 52,439,701
Stocks & bds. other cos_x10,103,095 10,102,345 10,535,09.1
Real estate
1,383,873
1,361,708
243,052
Steamer; elevator, &c
121,322
121,522
121,522
Cash
2,705,023
2,964,216
2,075,271
Bills receivable
979,847
068,491
079,331
Sinking funds • '
785.609
996,689
842,454
Materials and supplies
4,292,757
9,053,543
4,727,594
Due by agents, companies, individuals, &a
4,642,138
5,251,804
4,613,653
Imp't acc't leased roads 1,596,282
1,293,435
1.392,174
Elimination grade cross_
202,818
599,152
495,623
Miscellaneous
157,886
296,406
207,801
$76,926
Balance, surplus
Total assets
90,396,666
85,777,149
79,976,962
1908.
$•
1907.
$
31,305,266
31,022,166
27,787,871
27,787,87/
30,373 000
30,486,500
11,053,000
3,700,000
30,710,744
594,800
3,450,000
30,808,744
594,800
600,000
5,182,026
120,000
1,603,586
533,233
4,939,511
120,000
3,034,984
521,838
1,819,056
15,949
735,559
1,215,129
329,191
474,542
1,823,079
842,459
467,191
,
2,414404
90,396,666
' 1906.
$
1905.
$
2.837,219
2,837,219
1,444,598
662,477
1,006,944
1,788,929
576,936
232.095
1,807,190
16,787
724,994
1,209,337
261,871
465,445
1,823,079
150 030
543,206
- i.-4-6-0-,ags
500,000
1,437,722
20,925
711,944
1,182,727
264,956
411,415
1,823,079
150,000
141,937
862,214
925,464
584,834
2,494,141
85,777,149
79,976,462
76,505,855
21,409
:667451
1,720186
274,060
411,415
4,823,079
150,000
410,592
801,228
785,609
• 996,689
495.010
615,804
3,437,5282,501,591
z Stocks and bonds owned are substantially as on June 30 1907-see
1st V. 85, p. 860.-V. 87, D. 676, 613.
The remarks of President Tuttle were cited in V.87, p. 475.
Statistics.-The operations, earnings, charges, &c., have
been as follows:
OPERATIONS AND FISCAL RESULTS.
1907-08.
1906-07.
1905-06.
1904-05
Miles operated June 30._
2,288
2,288
2,287
2,287
OperationsPassengers carried
46,688,676 46,126,992 44,597,405 41,874,810
Pass. carried 1 mile*
790,805,436 762,517,704 '739,950,909 702,490,018
Rate per pass. per mlie• 1.712 cts.
1.745 cts.
Freight (tons) carried
20,135,853 23,262,949 22,549,467 20,546.826
Fxeight (to1s) cited 1 m.2152627465 2296970964 2010500035 1854130258
Rate per ton per mile_ _ _ 1.045 cts.
1.079 cts.
Gross earns. per mile $17,389
$18,313
Miles of steam roads operated
Earnings- •
Passenger
Freight
Express and extra baggage
Malls
Miscellaneous _,
VOL.Lxxxvz .
1905.
IS
50,588,412
0,746,780
1,309,722
121,522
3,010,966
973,491
925,464
3,584,769
:1,635,295
1,144,009
210,098
255,328
16,505,855
Maine Central Railroad Company.
(Report for Fiscal Year ending June 30 1908.)
President Lucius Tuttle Sept. 4 1908 wrote in substance:
During the year 1907 the Rumford Falls By. properties were leased
by the Maine Central RR., and to furnish a proper comparison of operations for the fiscal year ending June 30 1908 with those of the previous
year, the results accruing from the properties operated separately in 1907
have been combined In the following statement (see V. 87, p. 075):
Correct Comparison with Previous rear.
Cross
Fiscal
Net
Other
met- Taxes
Net
Earnings. Earnings. Income. Deficit. Accrued.. Income.
Year$8,514,256 $2,594,656 $63,223 $13,072 $376,067 $2,268,740
1907-08
8,968.844 3,111,373 83,927 14,941 338,869 2,841,690
1908-07
[Deducting in 1907-08 fixed charges, $1,666,152; dividends, 8%, $398,144, and betterments, $194,078: balance, surplus, $10,366.-Ed.]
The company suffered from the general business depression during the
latter half of the fiscal year. The falling off in Income from all sources
as compared with the previous year was $475,293--$494,450 of this being
In the freight department. Operating expenses do not now include expenditures made for betterments and additions to property, such charges
being separately stated under the form of classifying accounts now prescribed by the Inter-State Commerce Commission.
Notwithstanding the lessened operating income, the amounts accruing
therefrom have been sufficient to fully keep up the company's high standards of efficiency; $1,239,498 has been expended upon way and structures.
as compared with $1,203,101 in the previous year; and in maintaining
equipment, $1,250,246, as compared with $1,331,631. During the year
6,766 tons (47.1 miles) of new steel rails have been laid in main tracks:
428,740 ties have been laid, 63.9 miles of tracks have been raised and
thoroughly re-ballasted and 34.8 miles of fence have been built.
New Equipment.-There have been purchased and built for this company's exclusive use 10 new locomotives, 4 baggage and mall ears, 252
freight cars and 10 service cars; and for joint use in through passenger trains
running between Boston, Mass., and St. John, N. B., 4 first-class and 5
second-class passenger cars, 5 colonist cars and 4 baggage cars. This
equipment Is owned proportionately by Your company, the Boston & Maine
RR. and 4.4.e Canadian Pacific By. Co.-this company's proportion being
55.21%.
he cost of this new equipment, less the.proceeds of that destroyed • old, was $357,202.
Better n s.-The amount expended for betterments to property and
charged ' ncome during the year has been $194,078. There has been
expended the further sum of $400,907, provided frOm the contingent fund,
for the following distinct additions to property:
Automatic block signals_ _ ..$130,433
eetete main tracks and
Additional
Ree
Buildings and fixtures
15,014
sidings
140,108 Dock and wharf property__ 94,607
The installation of automatic block signals Is being continued, and upon
the main line between Portland and Old Town, via Augtista, they are now
fully in operation. Since June 30 the work of Installing these signals has
been going on between Cumberland Junction and Waterville, via Lewiston.
Fixed Charges.-There has been no change during the year in interest
charges on funded debt. The amount paid for rent of leased roads was
$879,186, compared with $605,852 for the previous year. This increase is
due to the inclusion of the full year's rental of the Portland & Rumford Falls
properties, compared with but two months thereof In the previousyear.
ZOPERATIONS;•EARNINGS AND EXPENSES.
1907-08.
1904-05.
1905-06.
1906-07.
Miles operated June 30_
931
816
845
816
OperationsNo. tons carried (rev.).
4,731,443
5,874,800
5,536,829
5,114,891
do 1 mile (revenue) _479,425,571 490,360,187 448,482,922 396,734,897
Rev. train-load (tons).._
263.08
252.39
279.73
282.76
Av. rate per ton per mile
1.06 cts.
1.07 cts.
1.02 cts.
1.03 cts.
Total passengers carried 3,890,364
3,446,683
3,585,158
3,717,849
do
do
1 mile _138,432,342 132,969,286 128,306,840 120,787,694
Passengers per train mile
56.52
57.74
57.74
58.40
Av. rate p. pass. p. mile
2.01 cts.
2.07 cts.
2.03 cts.
2.00 cts. ,
Earnings fromPassengers
2,911,834
2,706,328
2,628,633' 2,492,322
Freight
4,289,365
5,134,895
5,024,115 , 4,657,399
Mall, express, &c
469,849
467,727
557,696
508,713
Total
Operating expenses aGeneral expenses
Traffic expenses
Transportation expenses
Maintenance of cars_ _ _
Mint. of way & struc
New equipment
Taxes
Outside operations
376,067
ef. 13,072
Total
Net earnings
Other income
6,308,739
2,205,517
63,223
8,514,256
197,256
69,8941
3,162,7061
1,250,246
1,239,498
8,348,139
:
7
794,745
7,251,536
286,768
266,632
243,931
3,380,564
406,004
1,076,193
a514,643
310,075
2,990,132
365,886
1,583,408
a828,027
272,820
2,849,062
359,694
1,231,753
a101,764
260,400
5,974,247
2,373,892
97,130
6,305,906
1,488,840
98,333
5,136,604
2,114,031
84,732
2,199,663
Total
2,288,740
2,471,022
1.587,173
Deduct617,960
Interest on debt
631,860
617,960
617,960
Miscellaneous Interest_ _
37,135
551,186
Rents
545,870
896,780
605,853
New Bangor station.--300,000
• 50,000
Note charged off
Dividends
(8%)398,144(7%)348,369(7%)348,369(7%)348,366
Additions, &c. (see remarks)
(Included above.)
724,306
194,078
Hire of equipment
100,836
Sinking fund
13,440
13,440
144,694
13,440
Total
Surplus
1,530,955
2,020,796
56,218
178,867
•
a As to extraordinary expenditures included with operating expenseslin
904-05 to 1906-07, inclusive, see report for.1907 in V. 85, p. 918.
b In 1905-06 $100,000 was paid on ,account of new_Bangor station, out
charged againstloperating expenses.",
2,258,374
10,366
2,309,928
161,094
THE CHRONICLE
007. 10 1908..1
GENERAL
1908.
AssetsConstruction and
• equipment __17.180,437
Stocks and bonds_ 1,422,949
1,666,515
Cash
Notes receivable
602,363
Materials and supplies
1,242,659
Agents and conductors
167,561
Traffic balances
230,455
Companies and individuals
269,521
Sinking funds
447,877
Other items
75.058
BALANCE SHEET JUNE 30.
1907.
1908.
1907.
Liabilities'
Stock (Ity. & Ind.
17,180,437
4,988,000 • 4,988,000
section)
Bonds
(Ry.& Ind.
1,395,941
11,892,192 11,892,192
section)
425,391
665,382
241.818 Current liabilities_ 617,341
600,000
Notes payable.__ 650,000
1,241,652 Temporary etfs:for
P.& O. bonds 2,119,000
180,968 Aud. vouch. &c
555,695
642,348
361,628 Int., rents,'
taxes,
&c., not due_ 257,588
254,663
327,134 Sundry lease acct. 104,934
104,934
418,350 Injury fund
105,131
117,381
36,340 Sinking funds
447,878
418,350
Improvement acct.
t.
36,471
80,656
Contingent fund
345,084
735,625
Other accounts
35,05243,217
Profit and loss
1,150,130 1,266,911
Total.
23,305,395 21,809,659
-V. 87. D. 675.
Total
23,305,395 21,809,659
Nevada-California-Oregon Ry.
(Report for Fiscal Year ending June 30 1908.)
• T. F. Dunway, Reno, Nev., Aug. 5 1908, writes: ,
The physical condition of the road is first-class. The extension from
Madeline to Likely, 20.4 miles, was completed and opened for business
on Oct. 7 1907. It is expected that the line froth Likely to Alturas, 20
miles, will be completed and open for business Nov. 1 1908.
Bonds to the ammint of $8,000 were purchased by the trustees for account of sinking fund and canceled
OPERATIONS, EARNINGS, &c.
'
1907-08.
1906-07.
1905-06.
Average miles operated_
159
144
144
OperationsTons carried
56,770
43,550
42,727
Tons carried one
_ 4,315,730
4,206,291
3,140,503
Rev. p. ton p. m.mile_(ce its)
4.848
3.821
4.605
Passengers carried__ _
25,313
22,927
15,441
Passengers carried 1 Mlle 1,559,637
1,327,080
967,961
Rev. p.pass. p. m.(ce .ts)
6.571
6.173
6.347
Earnings$
$
$
Freight
160,735
209,233
144,635
Passenger
102.489
81,923
61,436
Mall,express and misc_ 26,946
23,057
24,648
Total earnings
ExpensesMaintenance of way, etc.
Maint. of equipment
Traffic expenses
Transportation expenses
General expenses
338,668
Total expenses
Net earnings
Other Income
171,565
167,103
19,924
47,4591
39,4651
6,8851
59,412
18,343
267,306
229,128
1904-05.
144
39,845
3,398,486
4.107
10,733
852,531
5,945
$
139,568
50,685
20,515
219,768
119,198
124,767
113,236
119,198
148,108
17,158
124,767
104,361
19,880
113,236
106,532
17,247
187,027
_
• Total net Income_ _ .
165,266
124,241
DeductInterest on bonds
29,477
26,751
25,467
Renewal fund
31,135
Dividend on pref. stock_(5 %)37,500 (4 %)30,000 (3%)22.500
Taxes
11,062
6,275
7,021
Sinking fund
8,040
6,100
6,170
Interest. on loans
6,000
6,000
10,535
Permanent Improvem'ts
1,287
490
Improvement fund
50,001
123,779
Total
Balance,surplus
25,783
5,858
6,220
11,729
14,078
143,366
43,661
933
It is estimated that it will cost $243,500 to replace the bridges that were
destroyed, together with the rails, track and embankments,all of which will
be raised and reconstructed in such substantial manner as to ,resist future
overflows. To raise the track beyond the reach of futureoVerflows(which
It is estimated will cost $141,000), $54,447 has been expended, and is Included in the expense of maintenance for the last three months of the year.
New Rolling Stock, &c.-The following additional equipment, costing
$187,500, was received during the year: 4 consolidation freight tom:Motives.
3 sleeping cars, 100 new box cars, 3 first-class passenger toaches.
The property and equipment have been considerably improved, but not
to the extent contemplated. As soon as the rebuilding of the road in the
Bosque and Leon rivers valleys is completed, we shall be able to resume
our general Improvement policy as
for in the 560,000 set aside
for that purpose as shown In the 15thprovided
annual report, only $15.000 of which
fund has been expended.
Oullook.-At the time of the preparation of this report, farmers and
planters along your road are rejoicing over the
production of a very large
wheat and oats crop, the anticipation of an enormous
corn crop which Is
practically made, and the splendid prospects for a decidedly better cotton
crop than last season.
--Rolling Stock June 30- -Average Annual bilaint.Loco- Passenger Freight
Freight
LocoPassenger
June 30- motives. Cars.
Cars.
motives.
Cars.
• Cars.
1908
28
29
374
$2,186
$452
$71
1907
24
23
274
607
1,700
71
1906
18 '
22
205
2,092
• 461
79
18
1905
21
190
1,779
82
, 708
OPERATIONS AND INCOME ACCOUNT. •
Operations1906-07.
1907-08.
1905-06.
Average miles operated •
268
•
227
241
Tons carried
246,898
304,385
237,487
Tons carried 1 mile
24,937,479 28,909,610 21,139,326
Revenue per ton per mile
2.2156 cts. 2.6896 cts. 3.2696 eta.
Passengers carried
273,145
265,537
212,895
Passengers carried 1 mile
14,792,857 14,499,288 • 11.326,498
Revenue per passenger per mile
2.5673 cts. 2.6270 cts. 2:5109 cts.
Earnings$
$
Freight
552,534
778,556
616,106
Passenger
'284,404
383,829
380,900
Sleeping car
5,264
,.
Mall
• 17,548
24,335
• 25.100
Express
16,734
• 40,810
30,696
Miscellaneous
10,349
18,740 •
12,509
,
Total earnings
Expenses and TaxesMaintenance of way and structures
Maintenance of equipment
Traffic expenses
Transportation expenses
General expenses
Taxes
1,009,167
1.244,106
945,241
247,291
152,093
10,834
379,164
36,623
24,243
188,794
90,995
174,182
78.791
405,588
51,114
17,988
274,259
33,382
13,707
Total expenses and taxes
Per cent of exp. and taxes to earnings
Net earnings
Other income.
850,248
(84.25)
158,919
5,327
754,479
(60.64)
489,627
252
574,321
(60.76)
370,920
14,525
Total-receipts'
Less PaymentsInterest on bonds
Dividends on preferred stock (5%)- Dividends on common stock (5%)New equipment and improvements
Tax on gross receipts
Hire of equipment
164,246
489,879
385,445
31,000
66,225
31,000
66,225
132,465
255,734
31,00
66,225
132,465
115,269
9,129
-_-_
Total payments ,
Ilalancejor year
'
205,849
•
26,055
329,129
def. 164,883
•
485,424
354,0
sur. 4,455 sur. 31,3
BALANCE SHEET JUNE 30.
1908.
1907.
1907.
1908.
AssetsProperty account.....5,123,800 4,623,800 First mtge. bonds_1,300,000 1,300,000
Bonds and stock In
Stock,common
2,675,000 2,675,000
treasury
676,200 676,200 Stock, preferred
1,325.000 1,325,000
Western extension
443,020 Vouchers & pay-rolls 10.!,973
83,584
Cash
1,981
72,725 Bits payable, &c_ *479,913
Due from agents,con-]
Due RRs,and others 44,796
64,796
doctors, railroads)
Interest
7,750
7,750
and others
F88,788
73,367 Dividends due
33,112 165;577
Material and supplies 105,726
70,720 Taxes
6,183
6,183
Income,account
a140,883
New equipment
16,203 144,698
Improvements
1,540
3,174
Gen'i improv't fund_ 44,907
60,000
Income account__ _ _
124,069
106,261
72,183
63,868
59,005
52,058
60,111
BALANCE SHEAT JUNE 30.
1908.
190i.
1908.
1907.
Assets$
$• .
Liabilities$
$
Property account_..3,014,113 2,931,793 Stock, common
1,450,000 1,450,000
Bonds owned
209,000
57,000 Stock, preferred
750,000 750,000
Stocks owned__:.-700
700 Bonds
796,000 604,000
Cashier
22,793
20,975 Accrued interest
6,310
6,042
Due from agents..__ _
4,330
4,705 Vouchers
10,870
9,294
Individuals and cos..
6,818
8,584 Pay-rolis
11,204
25,519
U. S. GovernmentHospital fund
4,800
3,246
Total
6,037,378 5,959,832
Total
. P 0. Dept., &c
6,037,378 5,959,832
4,301
Renewal
fund
3,665
11,757
31,135
Sierra Valley Ry.Co. 160.000 200,000 Improvement fund
50,000
*Bills'payable,'&c., Include: Bills payable, $142,000; due Moran Brothers,$106,Material accounts
41.496
8,287'Dividend due Aug. 1. 37,500
Miscellaneous
1.493
1,943 Net traffic balances_
6,920
27,482 425: reconstruction,J189,053; Western extension. 142,435.-V. 8,, p.922.
Surplus account
80,000
80,000 Replacement equipt_
10,392
Notes payable
100,000 100;665
American Express Company.
Profit and lees
x299,290 280,934
-- (Results of Operations for Years ending Dec. 31 1905 to 1907.)
Total
3,545,044 3,317,652 Total
3,545,044 3,317,652
The "Manchester (N. H.) Union" of Oct. 5 contained the
-x After deducting $25,000 for depreciation and making sundry small debits and following particulars of operations for
the calendar years 1905credits.-V. 85. D. 1207.
Texas Central RR.
(Report for Fiscal Year ending June 30 1908.)
Vice-President Charles Hamilton, Waco, Tex., Sept.
1908, writes:
• General Results.-The gross earnings for the year show a decrease of
'6234,939, or 18.88%; the operating expenses, including taxes, an increase
of $95,769, or 12.89%: the net earnings a decrease of $330,708, or 67.54%.
In addition to paying the year's charges and a dividend of 5% on the
preferred stock, there has been set aside $189,053 with which to pay for
rebuilding the line destroyed by floods, creating a deficit for the year of
$164,883.
The decrease in gross earnings began with the so-called panic, and to
an extent Is chargeable to the conditions arising from thatfinanclal upheaval: however, the cotton tonnage hauled by your railroad for the fiscal
year is 43.15% less than that handled during the preceding year. The
greater portion of this decreased tonnage Is attributable to a corresponding
decrease in the production of the staple In the territory contiguous to your
road and to the resulting decrease In the spending power of the community
served, while a small portion of the decrease Is the effect of additional
railroad mileage built by other companies into the communities heretofore
served entirely by It.
Bonds.-In 1906 we were advisedby the Railroad Commission of Texas
that the $650,000 bond issue that was made after the passage of the Texas
stock and bond law, which went into effect In July 1893, was Illegal. On
June 11 1907, after a hearing in the cause, the Commission dismissed the
proposed order requiring cancellation of the Issue.
On Feb. 25 1908 the Railroad Commission authorized an issue of $500,000
5% gold bonds, under the first mortgage of 1893, to cover the cost of construction of the Rotan extension, 41 miles, which was put Into operation in
1907.
Floods.-An unprecedented rainfall, culminating on April 16th in a
series of floods of greater magnitude than any of which there is a record,
resulting In the destruction of 12 miles of your railroad between mile post 65,
the first crossing of the Bosque River, and mile post 145, the last crossing
of the Leon River. Temporary bridges were constructed and track
replaced to enable the re-establishment of through traffic by May 5. On
May 12 we were visited with another downpour, resulting In the almost
total destruction of the temporary structures, together with the washing
away of the reinstated track. Repairs were concluded by May 20, when
we were again visited by a flood in the same territory with like results, and
werejoutiof business until May 30.
1907 and the incomplete statement of assets and liabilities
as of Dec. 311907, which were recently filed with the New
Hampshire Railroad Commission in connection , with a
proposed hearing on the subject of rates. The company
refers to- its sale in July 1907 of its holdings of ii.413,rds of
32,000 shares of common stock of the Boston & Maine RR.
(see that company in V. 84, p. 1367; also below).
EARNINGS FROM OPERATIONS FOR CALENDAR YEARS.
1907.
1906. •
1905.
Gross receipts from operations_ _ _ _$30,755,197 $27,954,986 $25,871,533
Expenses of operation
30.096.038
26,128,192
24.106,959
•
Net earnings
$1,764,574
$1,826,7d4
$656.156
Divs.paid from above earnings_(6 %)1,080,000(6%)1,080.000(6 ?;,)1,080,000
Balance
def.$420,841 sur $746,704 sur$684,574
• Note.-The dividends paid from July 1901 to July 1906 aggregated 8%
yearly, including 1 % semi-annually from Investments; In Oct. 1906 the
rate was increased to 12% per annum, payable quarterly, beginning Oct. 1
6% of this yearly being from Investments.-Ed. "Chronicle."
BALANCE SHEET (INCOMPLETE) DEC.
wiliilvvvsgn
Assets.g"
Liabilities.
Stocks
$14,269,094 Associates' interests- _ _618.000,000
Bonds
5,840,705 George L Winship
19,320
160,000 Unpaid divs. (old acc'ts)Mortgages
3,843
Loans
3,614,250 Unpaid diva.(new acc'ts)
1,399
Personal property
1,000,000 * Current liabilities, proReal estate
&e.,
surplus,
8,661,131
fit and loss
Cash In banks and trust
apparently
*15,616.489
companies
95,871
•
31 39o7.
Total
$33,641,031
Total of above items...533,641,051
* This item is not shown In the original, and Is Inserted merely to strike
a balance. The liabilities are reported in the original as aggregating only
$18,024,562, including the $18,000,000 associates' interests, or stock, as
it is ordinarily called, although the company is an association, and not a
corporation. This may mean that the usual current liabilities have been
deducted fromtassets before statingithe)latter.-EdeChronicie."-V. 87,
13.074.
934
Allis-Chalmers Company.
(Report for Fiscal Year ending June 30 1908.)
President W. H. Whiteside, Milwaukee, Wis., Oct. 1
1908, writes in substance:
Beginning with the second quarter and continuing for halt of the fiscal
year, owing to the severe contraction In general business, the volume of
the company's sales averaged about one half of normal. During the last
quarter there was a gradual and steady increase In orders booked.. Noteworthy success has been attained In the sale and operation of our new lines
of production, namely, gas engines, steam turbines, hydraulic turbines
and electrical apparatus, which are now among the standard products of
the company, their development, completed since the last report, forming
the basis for an increasing and profitable business.
Inasmuch as, owing to the present financial conditions, there may possibly be a shrinkage In the collection of certain bills receivable, It has been
deemed advisable to set aside out of the year's profits a special reserve of
$60,000.
During the year advantage was taken of an opportunity to sell the old
South Foundry and three vacant lots at the Reliance Works, no longer required for business purposes. Part of the proceeds were used to Install a
new brass foundry at the West Allis plant to replace the one vacated on
the South Foundry property; the balance to acquire some real estate In
West Allis and to purchase in the open market 131 of our first mortgage
bonds (par value $131,000), which have been canceled.
Second Vice-President and Treasurer H. Woodland and
Comptroller W. A. Thompson say:
The noteworthy features of the year are the material reductions In the
Inventories, amounting to $2,518,841; the increase in notes and accounts
receivable of $272,137; the Increase in cash of 51,059,301, and the decrease
In accounts and notes payable amounting to $2,304,413. These changes.
together with the net profit on the operations of the year not used for additions to plant and equipment, have considerably strenghtened the position
of the company and increased its working capital.
Having disposed of the South Foundry property and certain vacant lots
situated at Reliance Works, the company availed itself of the opportunity
to purchase, with the proceeds thereof, 131 of its outstanding bonds at an
average price of 62.22%, and the discount of $49,485 was applied to reduce
the deferred asset "discount and commission on bonds."
CONSOL. PROFIT ct LOSS ACCOUNT FOR YEAR ENDING JUNE 30
1907,
1906.
1908.
a$2,573,961 a$1,226,242 a$648,161
Profit on operations
854,503
778,477
754,928
Charges for maintenance and renew' a
313,778
281,655
253,988
Depreciation
805,892
505,049
Int. on bonds, loans and notes pay'le
60,000
Special reserve
51,958,147 $1,613,540 51,036,583
Total charges.
sur.$615 814 df.$387,298 df.$388.422
Net earnings for the year
(11.229,817
157,481
348,289
Total surplus previous year
Expended In the devel. of new lines of
6197,613
manufacture
Manse, as per balance sheet ---sur.$385,997 df.$229,817 sur.$157,481
a The profit on operations was obtained after deducting expenses of
manufacturing and selling, interest, dividends on preferred stock of the
Bullock Electric Manufacturing Co., and provision for doubtful accounts.
b This Item of $197,613 was expended in the development of new lines
of manufacture prior to June 30 1905, the amount of which is now carried
as an asset to be charged to future operating expenses.
CONSOLIDATED BALANCE SHEET JUNE 30.
1908.
1907.
1907.
1908.
$
$
LiabilUies5
Assets$
16,150.000 16,150,000
Prof. stock
Plant,' good-will,
19,820,000 19,820,000
37,496,887 37,028,121 Corn. stock
&c
Bills & accts. rec.. 4,922,235 4,650,098 1st M 5s outst'g_10,325,000 10,456,000
Bullock Mfg. Co.
Work In progress,
outst'g stock
y1,170,700 1,170,600
merchandise,&c. 6,220,513 8,739,354
Accounts payable_ 1,809,396 2,815,226
Development and
3,574,848 24,873,432
patent account_ 1,341,092 1,115,742 Notes payable
Deprec. reserve
1,513,430 1,293,822
Discount & coin.
385,997
2,564,515 2,614,000 Surplus
on bonds
x1,057.920
Unpaid bond sub_
889,828
1,949,129
Cash
254,200
255,000
Securities owned
229,817
Porfit and loss
Total
54,749,371 56,579,080
54,749,371 56,579,080
Total
x Since paid.
Includes 31,170.000 preferred guaranteed 6% per annum; also $700 common,
the remaining $1,499,300 common being owned by the Allis-Chalmers Co. and
deposited under its mortgage of 1906.
Partly secured by the deposit of treasury or syndicate bonds to the amount of
$3,457.000.-V. 87. D. 168.
Crucible Steel Company of America, Pittsburgh.
(Report for Fiscal Year ending Aug. 31 1908.)
The report, signed by Wm. G. Park, Chairman of Executive Committee, and Frank B. Smith, President of the
company, says under date of Oct. 6 1908:
General Fiesults.-Owing to the financial panic In Oct. 1907 and the
consequent depression, the volume of busness declined 55% as compared
with the preceding year, so that whereas the company was earning its
dividends in September and October,it suffered acontinuous operating loss
from Nov. 1 1907 to June 30 1908. Notwithstanding these losses, the
company was able to show an excess of direct operating profits over operating losses of $129,207.
During the year, however, owing to the continued decline In the price
of raw material, the Inventory values were revised monthly. After providing for all contingencies and the marking down of the inventories for the
fun period by $602,496, a net loss was shown of $502,024.
As business grew worse It was deemed advisable to suspend the payment
of dividends until these could be declared without impairment of the
company's surplus.
Property Account.-The expenditure for additional property during the
period was kept as low as possible, consistent with the needs of the business,
and amounted to $168,973, as compared with 51,072,286 In the preceding
period.
During the year Howe, Brown & Co., Ltd., and Its liquidating trustees,
conveyed all the assets of that company, including the title to its real
estate hoklings in the vicinity of 17th St. and Penn Ave., Pittsburgh, to
the company, thus satisfying the ground rent of $1,200,which had been
capitalized at $31,635.
Inventories.-At Aug. 31 1908 the valuation of the inventories was
34,845,124, as compared with $6,596,165 Aug. 31 1007, a decrease of
$1,751,041, or 27%.
Unfilled Contracts and Orders.-The volume of orders for the company's
product, both for immediate and future shipment, fell very considerably
early In the fiscal year, and steadily declined until July, since which time
the business has shown considerable impr >vement. The tonnage of unfilled contracts and orders on hand Aug. 31 1908, however, is still below
normal, being 72,984 tons as compared with 101,910 tons Aug. 31 1907, a
decrease of 28%.
Financial Candition.-Attentlen is directed to the company's strong
financial pesitl ,n, with no bonded debt, either outstanding or authorized,
and with current assets on Aug. 31 1908 amounting to 57,093,394, including
51.048,165 cash, and current liabilities reduced to 51.945,092, making the
net current assets 55,147,403, or $302,278 in excess of Its total inventories.
Number of Stockholders Aug. 31 1908.-Preferred, 3,466; common, 1,423;
total, 4,889.
EARNINGS FOR YEARS ENDING AUG. 31,
1906-07.
1905-06.
1904-05.
1907-08.
$2,901,840 $2,067,491
text)
*5520,024 52,672,160
Net (seo
None
Preferred dividend
(1)244,365 (6)1.466,190 (53)1,344,007
D. 5764,389 8.51,205,970 8.51,557,8338.52,067,491
Balance
*After deducting $649,231 for total monthly provisions made for the
revision of Inventory values and for contingencies.
[VOL. Lxxxvii.
THE CHRONICLE
BALANCE SHEET AUG. 31.
1907.
1908.
$
AssetsReal est.,plants3c.45,529,551'45,328,943
112,035
Investment secur_ 240,000
Accts. & bills rec.. 1,200,105 2,149,838
567,193
1,098,164
Cash
Taxes, Insurance,
49,787
71,721
&c., advanced__
4,845,125 0,596,165
Inventory
52,934,666 54,803,962
Total
-V. 86, p. 1532.
1908.
1907.
Liabilities$
$
Preferred stock___24,436,500 24,436,500
Common stock _24,578,400 24,578,400
447,244
1,000,952
Accts. payable___
1,481,419 1,696,419
Bills payable
7,811
17,328
Interest accrued
366,548
Prof. stock div
35,340
20,450
Insurance fund___
45,541
39,599
Reserve for cont's_
200,000
Porch., &c., mtges. 200,000
Profit &loss,surp_ 1,692,894 2,457,284
52.934.666 54,803,962
Total
Federal Mining 8z Smelting Company.
(Report lor Fiscal Year ending Aug. 31 1908.)
The report, signed by Secretary F. J. Kilner, says:
The output of the mines, which was greatly reduced In the early months
of the year, owing to the yerv low price of lead. Is now normal,and the
outlook is favorable for higher prices for metals.
STATISTICS FOR YEARS ENDING A UG. $1. !.4 'Ves
105-06.'4
t,41
1906-07.
1907-08.
874,332
888,950
599,850
Tons mined, total
130,855
130,373
93,811
Concentrates and shipping ore
63,029
59,746
43,988
Metal contents-Lead, in tons
3,920,884
3,689,298
2,803,628
Slyer, In ounces
51,067,037 52,532,250 $2,685,300
Net earnings
(7) 839,023 (7)5839,022 (7)5803,650
Dividends on preferred stock
(13)89,894 (18)1,078,719(14).0843,806
Dividends on common stock
184,666
300,000
Development account written off_ ___
Surplus or deficit for year
Surplus for previous year
Total surplus
def$46,546 5ur$314,509sur$1,037,843
484,241
1,522,084
1,836,503
1,790,047
51.836,593
$1,522,084
BALANCE SHEET AUG. 31.
1908.
1907.
1908.
1907.
LiabilitiesS
s
Assets6,000,000
6,000,000
stock.._
18,854,532
Common
18,741,981
Property
Pf. stk.(7% cum.)12.000,000 12,000,000
Material and sup290,803
189,980
125,384 Acc'ts payable_ ___ 292,201
plies
389,542
254,399
409;468 Div'ds payable___ 209,757
Acn'ts receivable
1,790,046 1,836,593
993,093 1,240,105 Surplus
Cash
20,292,004 20,510,938
20,292,004 20,516,938
Total
Total
--v. 86, p. 549.
The Lake Superior Corporation, Philadelphia.
(Report for Fiscal Year ending June 30 1908.)
President Charles D. Warren gives the following information regarding the operations of the subsidiary cos.:
Algoma Steel Co., Ltd.-Financial conditions the past year have caused
the railways of Canada to reduce the extensions of their lines to a minimum.
produc g a curtailment of rail orders that closed the steel plant for
about one-third of the year. Notwithstanding the net earnings were
$501,258, after deducting all charges, including interest on advances.
The output for the year was, pig iron, 135,852 tons; steel rails, 142,958 tons.
The large quantity of pig Iron which has had to be purchased throughout the year at high prices emphasizes the necessity of the company increasing its blast furnace capacity.
Lake Superior Iron ee Steel Co., Ltd.-Thls company has had a successful
year's operation, having produced 31,773 tons of open-hearth steel, from
which were roiled 25,321 tons of open-hearth rails, with earnings for the
year of 551,243. The bountiful crop just harvested throughout Canada
should stimulate railway construction and increase rail orders.
Lake Superior Power Co.-This company continues to supply power for
the operation of the subsidiary companies of the corporation, and is the
owner of and conducts the operations of the Helen mine.
The company shows a surplus this year of $265,944 In excess of expenses
of operation, after deducting all charges, including Interest on advances.
This excellent result Is due largely to the Increased shipments of ore from
the Helen mine. The ore from this mine has increased in quantity and
improved in quality in the lower levels which have been worked during the
past year. 150,623 tons of ore have been mined, being an Increase over
the previous year of 57,000 tons. Part of this year's output has been used
In the steel plant, and a substantial portion has been sold at good prices.
At the present time a good market continues available for all the surplus
ore that is not required for the Algoma Steel Company's furnaces.
Sault Ste Marie Pulp & Paper Co.-The output of the ground-wood
pulp mill was 26,248 tons, as compared with 23,001 tons for the year ending
June 30 1907. Practically the full output of pulp and paper for the year
has been sold at prices which netted a rotlt amounting to $50,131.
Algoma Commercial Co., Ltd.-The lumbering operations In charge of
this company, although carried on under conditions of exceptional difficulty, with market conditions unfavorable, have shown greatly improved
results.
Railways.-The net earnings of the Algoma Central & Hudson Bay fly.
Co. show a substantial increase over those for the year ending June 30 1907,
though its full earning capacity cannot be realized until the road is extended.
Negotiations are now in. progress to that end. At the last session of the
Legislature of the Province of Ontario, the land grant of 5,000 acres per
mile from the term nus of the Algoma Central & Eudson Bay fly. on the
line of the Canadian Pacific fly. to the National Trans-Continental fly.,
115 miles, was re-voted to the Ontario, Hudson's Bay & Western fly.
The charter of this railway Is owned and controlled by the Lake Superior
Cor oration, and the road will be an extension of the Algoma Central.
The earnings of the Manitoulin & North Shore Ry, were slightly less than
the previous year, owing to the temporary closing down of the Creighton
mine, owned by the International Nickel Co., front which this company
receives a large tonnage in freight traffic.
International Transit Co. and Trans St. Mary's Traction Co.-The results of the year's operations are hardly equal to those of the precedng
year, owing to the general depression.
Tagana Water ct Light Co.-This company shows a small Increase in Its
earnings over the prevlouslyear.
Michigan Lake Superior Power Cornpany.-This company Is still In the
hands of receivers appointed by the courts at the instance of the bondholders, and until some adjustment is made between the first and second
mortgage bondholders and the present litigation terminated, it will not be
possible to put the company on a more satisfactory basis. Your directors
are doing all they can to preserve the corporation's interest In the property.
General Results.-The year's operations of the various subsidiary companies shows a net surplus of 51,072,000, being an increase over tile previous year of $214,879. This result is particularly gratifying In view of the
general financial depression.
The financial panic of 1907, however, mad it clear that it was unsafe for
the subsidiary companies to depend upon outside sources for so large a proportion of their necessary working capital, and their directors have ,therefore determined that a substantial part of the year's earnings must be retained for working capital and for making necessary repairs and additions.
The minimum amount of raw material and manufactured products required
to be carried for the operations of the subsidiary companies average
approximately $2,000,000. While, therefore, the earnings of the subsidiary
companies have been, under the circumstances, highly satisfactory, yet,
by reason of the necessity for working capital and extensions, the receipts
of the corporation from the subsidiary companies have not warranted
your directors in paying interest on tile income bonds. The directors
confidently expect that,when sufficient working capital has been provided,
and when contemplated extensions are completed, the earnings will justify
the continued payment of Interest on the.income bonds.agmAkaime,,,,,,tai
THE CHRONICLE
00T. 10 1908.1
INCOME FOR FISCAL YEAR ENDING JUNE 30.
1905-06.
1906-07.
1907-08.
$527,983 $1,102,044
Int.& dly. on securities of subsid. cos. a$491,614
36,700
150,029
75,004
&c
banks,
from
Interest
•
$678,012 $1,138,744
$566,618
Total
489,883
b446,342
500,000
Interest on first mortgage bonds.._ _
91,981
j
63,5231
Gen. exp., taxes and org. costs
148,382 1
28,8845
Int. on loans & accts. written off..__ _
Balance, credit profit and loss__ _
Balance preceding years
$27,869
471,313
$29,630
591,683
$556,880
34,803
Total
5% paid on Income bonds Oct. 1 1906
$409,182
$621,313
150,000
$591,683
Total surplus as per balance sheet_
$499,182
$471,313
$591,683
a In addition to interest and dividends paid as above, the subsidiary
companies have reserved $580,386 from net earnings for the year for
extensions and working capital.
S Interest on treasury bonds, $53,658, deducted In 1907-08.
BALANCE SHEET JUNE 30.
1907.
1908.
1908.
1907.
Assets$
Liabilities$
40,000,000 40,000,000
Investments & seCapital stock
curities of subFirst mtge. bonds_10,000,000 10,000,000
sidiary cos
51,430,901 50,937,591 Income bonds____ 3,000,000 3,000,000
Cash (see note beBills and accounts
low)
662,641
9,486
315,750
31,850
payable
Cash for coupon_
12,350
43,150 Accrued interest on
Accts. receivable_
42,866
5,610
42,877
bonds and loans
Accounts secured
43,150
12,350
Coupons due(con.)
by bonds, &c___
60,000
177,000 Due subsidiary cos.
Treasury bonds*__ 1,013,204 1,114,271 Suspense account_
43,390
59,218
Adv, to sub. cos__ 1,396,721 1,954,363 Profit and losa__ 499,183
471,313
Miscellaneous ____
1,106
5,135
935
but which ultimately may or may not be enforced. Also on August 8
1908 the Pillsbury-Washburn Company was liable as the maker Of
accepted drafts on which there appears likely to arise a liability of approximately $50,000.
The directors of the Trustees, Executors & Securities
Insurance Corporation, Ltd., of London, recently issued
a circular to the first mortgage debenture holders saying:
The 6% first-mortgage debentures of the English Company, amounting
to £875,000, are secured under a trust deed dated August 19 1890, of
which the frustees. Executors and Securities Insurance C,rporation,
Ltd., and the Manhattan Trust Co. of New York are the trustees. The
security charged by the trust deed consists generally of: (1) a bond dated
Nov. 1 1889 made by the Pillsbury-Washburn Flour Mills Co. of New
Jersey,to secure the payment of $5,000,000,and an Indenture of mortgage
securing the same; (2) a bond dated Nov. 1 1889 made by the St. Anthony Falls Water Power Co., to secure the payment of $1.500,000. and
an indenture of mortgage securing the same; (3) a bond dated Nov. 1
1889 made by the Minneapolis Mill Co.,to secure the payment of $1,500,000,
and an indenture of mortgage securing the same. The Pillsbury-Washburn Flour Mills Co. of New Jersey, the St. Anthony Falls Water Power
Co. and the Minneapolis Mill Co. are American companies which arecontrolled by the English company, the Pillsbury Washburn Flour Mills
Company, Ltd.-V. 87, p. 617, 483.
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Alaska Central Railway.-New Trustee under Mortgage
dated April 1 1905.-The Western Trust & Savings Bank
having resgined as mortgage trustee, the Trusts & Guarantee Co. of Toronto, Canada, has been appointed substitute trustee.-V.87, p. 281.
Total
53,929,378 54,263,360
Total
53,929,378 54,263,360
Note.-In addition to the bonds in the treasury and cash on hand June 30 1908,
Apalachicola Northern RR.-Out of Receiver's Hands.there was held for the account of the Algoma Central & Hudson Bay Railway Co.,
request by
to be used for the extension of its line, cash, $62,419, first mortgage bonds of Lake Judge Malone at Quincy, Fla., on Oct. 3, upon
Superior Corporation, $345,000.
Z. H. Wilfley, representing the railroad, and George P.
Raney, representing the Morary Engineering & Construction
*Includes accrued interest.-V. 87, p. 815, 290.
Co., at whose instance the road was placed in the hands of a
Pillsbury-Washburn Flour Mills Co., Ltd., Minneapolis. receiver, discharged the receiver appointed in 1907. A press
dispatch says:
(Report of Receivers and Chartered Accountants.)
The road has opened upTsome of the finest timber and turpentine lands
Receivers Albert C. Loring, Albert C. Cobb and Charles In the Southeast and has paid operating expenses from the very beginning.
The
intends to construct docks at St. Joseph's Bay by March 1909.
S. Pillsbury-on Oct. 1 sent to the creditors and shareholders -V.company
85, p. 598, 1645; V. 86, p. 170.
the report of the accountants given below and accompanied
Atchison Topeka & Santa Fe Ry.-New Chairman, &c.it with a statement of their own expressing the opinion
of the road, has been
that in said report "the quick assets have been conserva- Walker D. Hines, General Counsel
elected a member of the board and also Chairman of the
tively valued and the liabilities fully stated." They add:
committee, succeeding in both positions Victor
When the receivership was established the mills were all shut down. executive
The "A" mill was started on August 11, the "B" mill on August 24 and Morawetz, who resigned.-V. 87, p. 876, 868.
that during the period from August 8 to August 31 there was an average
Boston & Maine ER.-Acquisition of Control.-Press redaily output of 10,456 barrels. During this period the sales of flour and
other products amlunted to $530,356, upon which there was a gross ports from Boston announce that the interests represented
profit of $46,821,and,afterdeducting fixed charges, a net profit of $23,779.
Conn., in the purchase last
Since Sept. 1 the other three mills have been put in operation and the by John L. Billard of
average daily output of flour increased to over 20,000 barrels.
June of 109,949 shares
Meriden,
of Boston & Maine stock from the
Report of Marwick, Mitchell & Co., Chartered Accountants. (Compare New York New Haven & Hartford RR.(V. 87, p. 97), have
V. 87, p. 413, 420.)
of the company's shares
We have examined the accounts of the Pillsbury-Washburn Flour accumulated additional amounts
Mills Co. (limited) as at August 8 1908 and of the Minneapolis & Northern to some extent in exchange for stock in the American TeleElevator Co. as at August 11 1908, and submit the following statement, phone & Telegraph Company, until they now hold 51%,
consolidating the assets and liabilities of the two companies, with the
exception of the equity of the Pillsbury-Washburn company in the water or more of the road's outstanding stock, amounting to
power properties of the Minneapolis Mill Co. and the St. Anthqny Falls about 831,400,000. J. P. Morgan & Co. have denied the
Water Power Co., this being the subject of explanation below.
The Minneapolis & Northern Elevator Co. appears as either maker report that their firm is interested in the purchase. A leador indorser on notes to the amount of $4,412,400, the proceeds of which ing official of the New York New„Haven & Hartford RR.
were received by the Pillsbury-Washburn Co. In the following statement these notes are shown as an Indebtedness of the Pillsbury-Washburn Co. is quoted as saying:
Company.
STATEMENT.
Total.
General liabilitiesNotes payable, secured
Notes payable, unsecured
Current accounts
P.-W.Co. M.& N.Co.
100,000
4,740,875
353,672
100,000
4,740,375
303,583
Total
Quick AssetsCash on hand and in banks
Accounts and notes receivable, valued at
Inventory of grain, flour, feed and
general supplies
Investments
Insurance and other prepaid accts..
Transit
Office furniture and fixtures
5,203,547
5,143,958
59,589
300,725
176,949
123,776
1,280,062
1,244,214
35,848
685,308
27,889
20,889
33,717
9,500
611,871
24,129
20,092
33,717
7,500
73,437
3,760
797
Total quick assets
Excess of general liabilities over
quick assets
Against this excess of liabilities
there are assets as follows:
Properties of the Minneapolis &
Northern Elevator Co., val ed
by H. F. Douglas
Mill properties of the PillsburyWashburn Co., valued by the
Manufacturers' Appraisal Co.,
but subject to the subjoined explanation as to lien
2,358,089
2,118,472
239,618
2,845,457
3,025,486
180,029
9,500
50,089
2,000
518,215
3,991,094
3,472,870
Excess of assets as shown over
1,145,637
608,244
447,393
general liabilities
We have n^t had access to the books in London, in which is the record
of the properties owned and of the stock and debenture liabilities. We
are infrrmed that by the ownership of stock in subsidiary corporations
the Pillsbury-Washburn Flour Mills Co., Ltd. owns the mill properties
valued in the fcregring statement and the water power properties of the
two companies referral to above. Further, that the company has a debenture debt of £875,000 secured by mortgages on both the mill and
water power properties. This Indebtedness, with accrued interest from
May 1 1908, would be equivalent to a lien of approximat ly $4,335,000
at August 8 1908.
While the mill properties are subject to this lien, as well as the water
power properties, the latter, alone, in the opinion of competent judges,
are of a value more than sufficient to pay the debenture debt. The vaule
of the equity in them cannot be stated at this time, but It is said to be
reasonably assured that, except in the event of a forced sale, the value
of the mill pr perties included in the statement will be available for the
protection of the general creditors and the stockholders.
We have examined carefully the valuations placed on the quick assets
and believe them to he conservative. We have given particular care
to the matter of general liabilities and believe the amount stated to fully
cover all claims outstanding at the date named. In considering the
excess of assets over liabilities of $1,145,637, it may be borne in mind
that it does not include the equity in the water power properties, already
referred to. Netiher does it contain any valuation of brands or good will.
The company also has an interest In some securities the value of which
cannot at this time be ascertained.
The cash in banks Is subject to claims for offset against notes owned
by the several banks making the claims of between $100,000 and $150,000,
It may be true that banking interests have acquired an additionally
large ownership of Boston & Maine, which, with the 31 % of the stock now
controlled by John L. Billard, would make a 51 % ownership of Boston
& Maine stcck. This purchase, however, was not made for the New Haven
RR.,for our road Is now through with the Boston & Maine RR.,and I think
that we should thank Mr. Brandeis and others who have so strzngly opposed our acquiring control of that property for their obstructive antics.
It might be of interest to say, however, that P:esident Mellen believes
that, under New Haven centre', he could add $2,500,000 worth of business
pee annum to the two roads, by reason of the economies which could be
brought about through an interchange of traffic not now possible.
Report.-See "Annual Reports" on a preceding page; also
in V. 87, p. 475.-V. 87, p. 613, 676.
Brockville Westport & North-Western Ry.-Coupons
Paid.-The coupons due June 1 1908 on the $450,000 first
mortgage 4s were paid after a few days' delay at, the Bank
of Toronto. The delay led the holder of a single bond, assuming a default, to advertise for the names of bondholders.
Report.-For years ending June 30 1908, 1907 and 1906:
Net. Bond Int. Taxes, Oth.Int. Dep..&c. Bal.,Sur
YearGross.
1907-08_462,277 $32,119 $18,000 $1,045 $1,333 $6,889 $4,852
7,188
18,000
911 -----8,857--34,956
1906-07.....:_ 62,023
59,319
29,570
18,000
1905-06The balance sheet of June 30 1908 shows: Stock outstanding, common,
$450,000; preferred $450,000: bonds out $450,000; bills payable $10,312;
interest due accrued $9,700; accounts payable $4,898; total surplus
$45,718. Edward R. Thomas is President. New York office 35 Nassau
Street.-V. 87, p. 345.
Canadian Northern Ry.-Not a New Issue.-The "Chronicle" of Oct. 3 mentioned the filing of a mortgage on Sept. 15
to secure "a new issue of equipment bonds, presumably
Series S." We now learn that the mortgage in question
covers an issue of Series "R" equipment bonds, mention
of which was made in a previous number of the "Chronicle."
The company states that it has no intention at the present
time of creating another issue of equipment bonds. The
Dominion Securities Corporation of Toronto has handled
all the equipment bonds of the Canadian Northern Ry.,
and is at the present time offering Series "R" to the
This is the issue in which William A. Read & Co. are also
interested. See V. 87, p. 812,872.
Canadian Pacific Ry.-Strike.--The strike of the company's mechanics, which began August 4, was reported to have collapsed on Oct. 5, but on Oct. 8 the boilermakers on the western divisions were still out.
New Stock, &c.-The shareholders on Oct. 7 sanctioned
an increase in limit of issue of ordinary stock from $150,000,000 ($146,016,000 outstanding or subscribed for) to
$200,000,000. They also ratified the purchase of a con
936
THE CHRONICLE
trolling interest in the Alberta Railway & Irrigation Co,
at a cost of $2,000,000. The new shares will be issued from
time to time as required for additional rolling stock, now
it appears the pr6sing need; also for other,acquisitions and
improvements. It is not generally expected, however,
that there will be an offering of the new stock in the immediate future, as the final installment on the last issue is
not due until Oct. 19.—V. 87, p. 812, 743, 735, 613.
Chicago & Alton RR.—Report.—The results for the year
ending June ,30 are shown below, the figures for 1907-08
belly, made up according to the new classification prescribed , by the Inter-State Commerce Commission, and
comparison with earlier years being therefore inaccurate.
Fiscal
Net
Grosg
Other
Charges, Dividends
Balance,
Year.— Earnings.
Earnings. Income. Taxes, &c. on Stock.
Surplus.
1907-08_ $12,087,734 $4,278,635 57,474 52,965,197 51,021,153 5299,759
1906-07 _ 4,809,426 4,784,974
894 2,958,307
817,332 1,010,229
Dividends as above Include in 1907-08 5% on the prior lien and participating stock and 4% on the preferred stock (543,965 and $781,760
respectively) and 1% ($195,428) on the common stock, and In 1906-07
4% on the prior lien and participating stock ($35,572) and 4% on the
preferred stock, ($781,760).—V. 87, p. 873, 543.
Chicago & Milwaukee Electric RR.—illilwaukee Extension.
—The company ran its first car to Milwaukee -on Oct. 1.
The extension is expected shortly to be in regular operation.—
V. 87, p. 225.
Cleveland Ry.—Suit for Rental.—Suit was brought on
Oct 2 in the Court of Common Pleas against the Municipal
Traction Co. to recover $220,134, the amount of the rental
for the quarter ending Sept. 30. The rental was withheld
because of , the refusal of the company to stipulate that
the money would be applied on account of the payment
of a 13'% dividend on the outstanding 'stock. A statement was issued saying:
•
The directors believe that, under present condltons, the declaration
of a dividend, If the rental had been paid on October 1,-would not be In
the interest of the stockholders of the company. The security franchise
has not yet been approved or disapproved by popular vote and no provision has yet been made to discharge the floating debt of the company.
When the last dividend was paid no call for an election to validate
security franchise had been made. The election is to be held on Oct. the
22,
—Ed. The directors are charged with the duty of guarding the property
of the stockholders and are under no obbration either morally or by contract under the lease to the Municipal Traction Co. to pay a dividend
when such payment is not prudent or wise.
Municipal Stock to be Trusteed.—The directors of the
Municipal Company on Oct. 2 voted that an instrument
be drawn up under which the stock .of the company be
trusteed and the public be secured that the pledge of Mayor
Johnson and his associates that the company shall not be
conducted for profit shall be carried out.—V.87,p. 873,677.
Elberton Air Line Ry.—Sale.—The United States Court
at Atlanta on Sept. -29 ordered the sale of this 50-mile road
at Elberton, Ga., on Nov. 3, the upset price being $581,252.
The Southern Railway Co. owns 'all the $196,400 capital stock and
$150,000 first mortgage 7% bonds, and it is expected will purchase the road.
Galveston Terminal Ry.—New President.—R. H. Baker,
President of the Trinity & Brazos Valley RR., has been
elected President, to succeed W. E. Green,. who resigned on
Sept. 15.°—See Colorado & Southern report on another page.
V. 86, p. 1589.
Georgia -.& Florida.Ry.—136 Miles of Line Opened.—The
company on - Oct. 1 opened its new line from Madison, Fla.,
through Valdosta to Hazelhurst, Ga., 136 miles, the connecting link from Valdosta to Nashville, 29 miles, being
completed: Compare V. 87, p. 480.
Great Northern Ry.—See "Great Northern Ore Properties"
under '"Industrials" below.—V. 87, p. 740.
Gulf & Ship Island RR.— Dividends Suspended.—No
dividends -have been declared or paid on the stock since
July 1908. The decision us to the continuance of dividends,
at the rate of 4% annually will, we learn, probably be
deferred until late in the fall or possibly until January 1909.
.—V.86, p. 1100.
Hocking Valley, Ry.—New Director.—D. Milbank of New
York has been elected a.direetor, succeeding H. R. Wilson,
who resigned.—V. 87, p. 812.
Intertmough Rapid Transit Co., New York.—New Treasurer.—.Wpea H. Campbell has bet-it elected Treasurer to
succeed
W. McWilliams, effective Nov. 1.
New 'Offices.—The Company has leased the sixth and
,twelfth floors, of the City Investing Building for a term of
ten pears from. May 1 next for the general executive offices.
—V. 87, p. 677.
Los Angeles Inter4Tiban• Ry.—Lease.—See Pacific Electric Ry. below.—V. 80;1)1.651.
Louisville &
1RR.—Ouster' Law Held Unconstitutional.---Pres.9 dispatches state that Judge Wood in the
Chancery Court at Gulfport, Miss., on Oct: 6 held unconstitutional the Mississippi law penalizing common carriers for
the removal to the Federal Courts of suits Originating in the
State courts.
• company to a petiThe depislon sustained a demurrer interposed by the
tVoL. Lxxxvit.
New Orleans Fort Jackson & Grand Isle RE.—Leased.—See
New Orleans Southern RAilWay Co. below.—V.86, p. 1225.
New Orleans Southern Ry.—New Company—Lease.--'—This
company,incorporated some time ago, has taken over under
lease the New Orleans Fort Jackson & Grand Isle RR.(V. 86,
p. 1225; V. 85, p. 1577). The officers of the New Orleans
Southern Ry. Co. are as follows:' Arthur Kennedy, President;
Chas. D. Haines, Vice-President; F. Muller, Secretary and
Treasurer; all with offices at New Orleans, La.
Newport & Wickford RR. & Steamboat Co.—Receivership.—Judge Charles C. Mumford in the Superior Court
at Wickford, R.I., on Oct. 5, appointed as receivers for the
company Angus McLeod of Newport, Treasurer of the
company, and Robert W. Taft of Providence, a director of
the Rhode Island Hospital Trust Co., the trustee under the
mortgage securing $100,000 5s due August 1 1920.
This action was taken on petition by Hugh D. Auchincloss and George
Gordon King, directors, stockholders and creditors of the company. J. W.
Miller, has resigned as President and director and Messrs. Auchincloss
and King as directors and in their places on the board there have been
elected Mayor Clarke, Clark Burdick; City Solicitorof Newport,and William
P. 13uffum. The city of Newport owns a large block of the $100,000
stock. The company operates the steamer General between Newport
and Wickford and 3 M miles of railroad from Wickford to Wickford Junction
on the N. Y. N. H. & H. RR. For the year 1906-07 the gross earnings
were $56,948; deficit, $2,860; taxes, interest, &c., $6,002; deficit for year,
$8,862.
New York Westchester & Boston (Electric) Ry.—Favorable Decision.—The Court of Appeals at Albany on Oct. 6,
in a condemnation proceeding brought against the Huntington estate for a right of way through land within the city
limits in the vicinity of the old Morris Park race track,
handed down a decision which is regarded by those interested
as in all respects sustaining the validity of the charter.
Compare remarks in New York New Haven & Hartford
RR. report given last week, page 870.
It is held that the company must obtain a certificate of
public necessity from the Public Service 'Commission, but
this requirement is regarded as merely technical.
In the litigation between Robert E. Robinson, a minority
stockholder, and the majority interest, a decision favorable
to Mr. Robinson, it appears, was rendered by ex-Judge
Brown, the referee, several months ago. Caldwell & Reed of
100 Broadway, thisAcity, represented Mr. Robinson.—
V. 87, p. 480,1415.
Norfolk & Bristol Street Ry.—Bonds Authorized.—The
Massachusetts Railroad Commission has authorized the company to issue $150,000 5% 20-year bonds for additional
equipment.—V. 86, p. 1410.
Norfolk & Southern Ry.—Time Extended—Majority Deposited.—Holders of the "first and refunding mortgage 5%
50-year gold bonds" are notified by advertisement that the
committee of reorganization has extended the time limit for
depositing the bonds from Oct. 1 1908 to Nov. 1 1008.
"More than a majority of the bonds is now depoSited." See
plan in V. 87, p. 614, 678.
Pacific Electric Ry., Los Angeles.—Lease.—This company
has taken over under lease the Los AngelesInteri-Urban Ay.
See page 61 of "Electric Railway" Section.—V.84, p. 1248.,
Philadelphia Bristol & Trenton Street Ry.—Federal
Court Revokes Appointment of Receivers..—Judge Holland,
in the United States Circuit Court at Philadelphia on Oct.-5,
filed a decision revoking the appointment of temporary
receivers recently named by him.
This leaves the receivers appointed by the Bucks County Court in charge
of the property. It is held that where one court has acquired jurisdiction
over the prverty of a defendant,it will be its right to hear and determine
all contr wersies relating thereto, without interference. Compare V. 87,
p. 813, 678.—V. 87, p. 873, 813.
Philadelphia Rapid Transit Ry.—Subway CoMpleted.—The
train service in the subway was extended On Tuesday to the
South Street station, thus completing the route of the subway system.
New Tickets.—The directors voted Sept:' 30 to substitute
on Oct. 15 the six-for-a-quarter tickets for those now in
use. The "Philadelphia Press" of Oct. 1 said:,
The new form of six-for-a-quarter ticket is intended to further reduce the
"leakage" In earnings. Simultaneously, It is proposed to put on sale a
new form of exchange
ticket which will limit the use of that ticket to one
hour from the time of sale. The six-for-a-quarter tieket is non-transferable, and Its coupons are good for fare only when detached by the conductor.
If the owner wishes to pay the fare of a friend, he must pay cash or purchase
a strip of tickets for the friend's exclusive use.
Directors of Union Traction Co.—See that company below.
—V. 87, p. 813, 740.
Philadelphia Traction Co.—See Union Traction Co. of
Philadelphia below.—V. 71, p. 288.
Puget Sound International Railway & Power Co.—'Acquisition.—We learn that the property of The SeattleEverett Interurban Ry..,in operation from Ballard to Halls
Lake, Wash.,17 miles,and projected to extend to Everett
which was recently purchased by Seattle Electric Co.interests
has been taken- over the Puget Sound International Railway
tion of State Attorney-General Fletcher, who asked that the railroad be & Power Co. In 1905 -the Interurban, made a mortgage to
prevented from doing business In Mississippi because it had removed
over tho question of stopping certain trains at Bay St. Louis to the a suit the Union Trust Co. of Pittsburgh as trustee to secure an
Federal
courts.—V. 87, p. 475.
issue of $2,000,000 bonds, of which $310,000 are now outMissouri River & Northwestern RR.—Successor.—See standing. (Compare V. 81, p. 1493.)
The Puget Sound International Railway and Power CO.Iwas Incorporated
Rapid City & Wyoming Valley RR. below.—V.87, p. 167.
In Maine June 5 1907 to own, operate and develop eleotric railway, lighting
Mt. Vernon (0.) Ry. & Light Co.—Receiver's Sale.—.The gas and water-power properties
in the Puget Sound district. The company
operates, under lease, the Everett Railway, Light & Water, owning
receiver is now advertising the property to be sold at auction now
13 miles of electric railway (besides water and electric-Iight system),and
at receiver's-sale on Nov. 7 1908. Compare V. 87, p. 286.
now the 17 miles of trolley road heretofore owned by the Seattle-Everett
Railway Co., making the total electric railway mileage controlled
Municipal Traction Co., Cleveland.—Suit for Rental.— Interurban
approximately 30 miles of equivalent Eiingle track. rile company's capital
Tru.steed.—See Cleveland. Ry. above.—V. 87, stock, It is uppos,d, is owned
to,Stock .be
by the Seattle Electrio
Co. (see that com.
pany on. page 104 of "Electric Railway Section:
:, also "Everett" ouLpage
p. 873 677
45. Cothpare V. 85. p. 723.
00T. 101908.1
THE CHRONICLE
937
Rapid City & Wyoming Valley RR.--Successor Company.
company was incorporated in South Dakota on or
about Sept. 28 with $500,000 of authorized capital stock,
it is stated, of taking over the bankrupt
for
thepurpose'
River & Northwestern, in • operation from Rapid
Missouri
City. to Mystic, 34 miles (V. 87, p. 167). Incorporators:
H. W. Jones, J. C. Haines, F. H. Rugg, H. E. Swanger, W. F. Pascal.
Exchange.-See Boston & Maine under "Railroads" above.
-V.87, p. 711, 680.
American Pipe Manufacturing Co.-Securities Offered.Cramp, Mitchell & Shober, Philadelphia having already sold
a large majority of the total issue of'
$1,000,000, offer at
97Y
'
2 and interest, yielding about 5.35%, the remaining 5%
E. M. Reeves, L. A. Richards, G. P. Bennett and T. Sweeny, all of Rapid trust certificates, series "A," issued by the Girard Trust Co.,
trustee, Philadelphia, dated Oct. 1 1907 and due Oct. 11927;
City.
St. Louis & San Francisco RR.-December Notes Financed. $50,000 must be retired annually by lot at 1023/i and inter-The company has arranged with Kuhn, Loeb & Co. and est. Interest (A. and 0.) and principal payable at office of
Hallgarten & Co. to finance the $7,100,000 notes maturing trustee. Tax free in Pennsylvania.
Dec. 1. The details have not yet been announced. As- Abstract of Letter from Pres. Jos. S. Keen Jr.. Philadelphia, Oct. 5 1908.
The securities deposited as security aggregate $1,250,000, viz.:
sociated with Kuhn, Loeb & Co. in this agreement are the Rochester
& Lake Ontario Water Co. 1st M. 5% bonds, due 1933
(V. 76, p. 1146)
Berliner Handelsgesellschaft of Berlin and Hallgarten & Co
$250,000
Charleston
(S. C.) Light ec Water Co. (V. 87, p. 349) lst M. 5%
of New York. Compare V. 87, p. 873.
bonds, due 1927
250,000
Mountain Water Co., Greenville, S. C., cowl. M. 434 %
Southern Pacific RR.-Bond Sale.-The Southern Pacific Paris
bonds, due 1931
250,000
Co. has closed a negotiation covering $14,000,000 first Norfolk County Water Co., Norfolk, Va., 1st M. 5% bonds, due
1929
250,000
consol. refunding mortgage 4% gold bonds of 1905, a public East
Jersey Coast Water Co. 1st M. 434 % bonds,•due 1924
250,000
offering of which will'shortly be made by Kuhn., Loeb &
(1) The Rochester & Lake Ontario Water Co. has a perpetual franchise
and
supplies
water
to
part
of
the
city
of
Rochester,
N.
Y.,
and
the
Co. Speyer & Co. and the National City Bank. This will ban section from Lake Ontario to Fairport, Brighton, Pittsford andsuburother
make about $95,000,000 of the issue outstanding. The towns, as well as the New York Central & Hudson River RR. Co.,
the
Eastman Kodak Co., and other large consumers. (2) The Charleston
proceeds of the aforesaid $14,000,000 will be usecm ecn- Light
& Water Co. has a perpetual franchise, exclusive for 30 years, dating
nection with extensions in Mexico and for the retirement of from 1905, and supplies the city of Charleston, S. C., the navy yard, the
Ry., the Atlantic Coast Line Ry. and domestic consumers.
maturing bonds, including $6,000,000 Southern Pacific of Southern
with a
estimated at 60,000. (3) The Paris Mountain Water
Arizona, Series A, 1st 6s due in Mch 1909, and possibly the Co. has population
a perpetual franchise and supplies the city of Greenville, the Southern Ry. and a number of cotton mills, as well as domestic consumers. (4)
$4,000,000 Series B 6s due Jan. 1 1911.-V. 83, P. 1591.
Springfield Xenia Ry.-Initial Dividend.-The company
on Oct. 1 paid its first dividend of 4% on the $300,000
5% cumulative preferred stock.-V.84, p. 1308.
Third Avenue RR., New York.-Further Discontinuance
of Transfers.-Receiver Whitridge gave notice this week
that transfers would be discontinued at midnight on Oct. 6
between the Union Ry. lines in the Bronx and the Yonkers
and Westchester Electric lines.
The step Is taken in accordance with the order of Judge Lacombe on
June 15 last, the managers of the Yonkers and Westchester lines being
unwilling to make an "equitable" division of the receipts.
Mr. Whitridge Is quoted as saying: "We have no objection to carrying
our passengers from the Post Office In Manhattan to Fort George or the
Yonkers line or to 215th street for a nickel, but I object to carrying the
people of Westchester county 20 miles for practically nothing. There
would be something in It for us If the tide ran both ways, but the people
who ride downtown on our cars on transfers from the Westchester railways do not go back on our cars and pay us the nickels. They are in a
hurry to get home and take the subway or the elevated to the junction
points.'
Under the transfer system, it is said, the Union Railways' southbound
cars were loaded with passengers from Westchester county who rode on
transfers, while residents of the Bronx had to stand.-V. 87, p. 347.
'Toledo & Ohio Central Ry.---New Officers.-The following
changes are announced:
Charles T. Lewis has been eleeted Second Vice-President of this company
and also of the Kanawha & Michigan Ry., to succeed the late James M.
Ferris. J. Landgraf Jr., Auditor of both roads, has been elected also director of the Toledo & Ohio road, and Secretary of each, to succeed Mr.
Ferris. Charles G. Hickox has been elected a director.-V.87, p. 871.
The Norfolk County Water Co. has a 50-year franchise and supplies a portion of the city of Norfolk and suburbs, with a population Of about 20,000,
also the Norfolk & Western RR. and, at Lambert's Point, various steamships and other vessels. (5) The East Jersey Coast Water Co. has a 99Year franchise and in addition to domestic consumers supplies all of the
municipalities outside of Asbury Park and Ocean Grove, N. J., extending
from Asbury Park to Allenhurst and from Ocean Grove to Avon-by-the-Sea.
The American Pipe Mfg. Co. has no obligations as guarantor of either
principal or interest on any of the outstanding bonds of Its numerous subsidiary companies. It has a capital stock, paid In cash, of $5,000,000,
and an undivided profit account of $1,879,797. Continuous dividends
have been paid for the past 17 years, the average rate being 10.13%. The
c)mpany owns capital stack of subsidiary companies to the par value of
$3.793,190, as well as other assets, such as patents. &c., of which no account
Is taken in its financial statement. The Interest on all of the bonds pledged
with the trustee is promptly paid as It matures, aggregating, $60,000 per annum, while the Interest charge on the certificates for the first year is $50,000 per annum, and diminishes each year. There has never been a default
on any of the securities of the subsidiary companies during approximately
20 years existence of the company. The company may substitute for the
securities pledged other securities of at least equal value. The principal
business of the company is to construct water works and water power
properties. Compare V. 86, D. 479, 1161.
Amoskeag Manufacturing Co.-Report.---For the year ending June 30:
.
.
Fiscal
Total
Net
Dividends
Receipts
Balance.
Year- from Sales.
06%).
Costs.
Profits.
Surplus.
1907-08 -$16,109,124
$1,250,655
$921,600
$14,858,469
$329,055
1906-07
1,232,057
921,576
310,481
17,879,541
16,647,484
Total costs In 1907-08 include cost of manufacturing, $14,969,932;
Interest, $13,265; guaranty, $52,648; reduction in inventory, $177,377.
-V. 87, p. 227.
Aripeka Saw Mills.-Contract.--See Tampa Northern
RR. under "Railroads" in V. 87, p.814.
Belnord Realty Co., New York.-Contract-Mortgages.Union Traction Co., Philadelphia.-Representatives of
Rapid Transit Co. Resi-In view of the proposition, See United States Realty & Improvement Co. below.
shortly to be acted on by the shareholders. and already apCalumet & Hecla Mining Co.-Favorable Decis-ion.-4-See
proved by the Balfour committee, to permit the Philadelphia Rapid Transit Co.. to use as collateral the securities Osceola Consolidated Mining Co. below.---V. 87, p. 284, 227.
owned by the Union Traction Co., also out of deference to
Canadian Improvement Co.-Extension of Notes.-See
the wishes of certain stockholders of the latter company, Lake Superior Corporation below and compare V. 84, p.
the following representatives of the Philadelphia Rapid Tran- 1309.-V. 87, p. 287.
sit Co. have tendered their resignations from the board of
Central & South American Telegraph Co:-Partly Estithe Union Traction Co.:
John B. Parsons and P. A. B. Widener (who resign as President and Vice- mated Earnings.-For 3 and 9 months ending Sept. 30 •
President, respectively, as well as directors), George D. Wide ter, (3,..rge
H. Earle Jr., William H. Shelmerdine and Jeremiah J. Sullivan.
Three
Mos.-
Total
Income.
Net
Income.
Balance,
Dividends.
surplus.
Total
Surplus.
$365,000 $204,500 (1.4%)$143,565 $60,935 $1,340,067
The stockholders of the Philadelphia Traction Co. will 1908
1907_
405,000
262,500 (1%%) 145,048 117,451 • 1,530.932
vote Oct. 29 on permitting the Rapid Transit Company to 9
Mos.771,500 (04%) 432,182 ,339,319
1,240,500
1,340,067
include in the aforesaid collateral the securities belonging to 1908
1907
1,212,500
818,000 (43i%) 405,787 '412,21Z , 1,530,932
the Philadelphia Traction Co. but now in the possession of -V.
86, p. 1591.
•
the Transit Company. A.circular sent to the stockholders
Charleston (S. O.) Light 85 Water Co.-See American
of the Philadelphia Traction Co. concludes:
Pipe
Mfg.
Co.
above;
also
V.
87,
p.
349.
It is also not Improbable that in working out the detals of the new loan,
provision will be made for the immediate or ultimate retirement of the
City Investing'00.-1-4Option to Subscribe.-Stockholders of
balance of the Issue of 4% collateral bonds negotiated by your company In
1887, thus relieving your company of its obligations with respect to the record Oct. 10 are 'offered the right to subscribe pro rata to
originally
$1,300,000,
same. [Loan,
reduced to $455,000 by sinking fund the extent of 25% of their holdings for the si,ocw,000 new
drawings at 105. Security, 5,100 shares of West Philadelphia Passenger
7% non-cumulative preferred stock at par.
Ry. and 1,750 shares of Union Passenger Ry.-Ed.]
Compare Philadelphia Rapid Transit Co. In V. 87, p. 813.
The stock Is preferred both as to aisets and dividends.
Payment Is to
be made as follows: 10%, to accompany,subscription, ,30% on Nov. 5,
Westchester Electric Ry.-Transfers with Union Ry. 30%
on Feb. 1 1909 and 30% on April 1 1909.-V. 87, p. 874. 741.
Discontinued.-See that Co. above.-V. 86, p. 230.
Colonial Steel Co., Pittsburghir.fincrease of Capital Stock.
Yonkers R.R.-Translers with Unioti''Ry. Discontinued.- -The stockholders on Sept. 28 voted to increase the capital
See that Co. above.-V. 87, p. 98.
stock from $1,250,000 to $2,000,000. as stated in V. 87,
p. 287, to provide additional working capital ,and to increase
the capacity of the plant at Monaca. J. B. Finley and A. S.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Beymer are the new directors. Compare V. 87, p. 287.
American Light & Traction Co., New York.-New Director.-Frank Sullivan Smith has been elected to the board to • Commonwealth-Edison Co., Chicago.-Dividend Increased.
-A press despatch yesterday announced the declaratiOn
succeed the late John J. Emery.-V.87, p. 287, 98.
of a quarterly dividend of 13/2%, payable Nov. 2 to holders
American Telephone & Telegraph Co.-Earnings of "Asso- of record Oct. 20. This increases the annual rate from
ciated Operating Companies."-For in oath of August and 5%, maintained since the consolidation in 1907, to
6%.
first eight months of 1908 and 1907.
Stock outstanding $24,000,000.-V. 86, p. 1287.
One
Telephone
Balance for
Interest
Other
Net
Dividends.
Income.
Charges.
Month- Reoellues. (over Taxes).
Consolidated Gas, Electric Light & Power
alti$2,496,300
1908---- $9,950,400
$614,500
$2,657,900
$452,900
Co.,1908:
2,270,300 more.-Earnings.-For fiscal year ending June 30
1907-.-- 9,544,900
630,500
2,532,200
368,600
8 Months1908____$78,792,100 $20,869,800 $3,415,900 $5,144,300 $10,171,400
1907____ 74,360,600
4.662,100
17,477,700
19,093,000
3,046,800
Operating expenses include maintenance charges and taxes aMounting
to 33,239,500 in August 1908, against $2,951,100 In August 1907; and
325,636,600 for the eight months In 1908, against $23,486,300 for the same
period In 1907.
alas
Am
Balance,
Net
Fixed
Balance
'Preferred
YearSurplus.
Earnings.
Charges.
for Divs.
Dividends.
1907-08 __ _$1,870,085 $1,234,586 $635,499 (6%)$423,600 $211,899
1906-07 (abt) 1,711,000
630,257
206,657
423,600
1.080,743
Owing to the general business depression, the output of,gas In 1907-08 was
only glIghtly in excess of that of the previouS year, but the output oteiectr.c
current increased about 10%.-V. 87, p. 741.
938
[VOL. Lxxxvn.
THE CHRONICLE
Corn Products Refining Co.-Sale of Notes.-The company has sold this week three 5% notes of $500,000 each,
to be dated, it is understood, Oct. 9, and to mature in six,
twelve and eighteen months respectively. Press reports
state that the notes will be subject to call before maturity
in the event of the sale of the old Chicago plant, valued at
between $2,000,000 and $3,000,000, but this is not confirmed. The proceeds from the sale of the notes will be
used in connection with the new plant now under construction at Summit, adjoining Chicago.
Los Angeles Harbor Co.-Bond Issue.-A mortgage has
been filed with the Title Insurance & Trust Co. of Los
Angeles as trustee to secure an issue of $1,000,000 bonds.
See Los Angeles Harbor RR. in V. 86, p. 1344.
Mexican Light & Power Co.-Quarterly Dividend 0/1%.
The directors on Sept. 29 declared a dividend of 1% on the
common stock for the three months ending Sept. 30, payable
Oct. 15. The first dividend, 1% semi-annual, was paid on
the common stock July 15.
New Officers.-Sir George Drummond having resigned
from the management, E. S. Clouston has been elected
President and H. V. Meredith to the vacant seat on the
board.
Lease.-Canadian advices state that negotiations are understood to be about concluded for the lease of the property
to the Mexico Tramways, Limited, which will guarantee
the interest on the bonds and preferred stock and a minimum
of 4% yearly on the common stock, with the right to the
common to participate in additional profits. (Compare report, V. 86, p. 478.)-V. 87, p. 480.
Mexican Telegraph Co.-Partly Estimated Earnings.-For
3 and 9 months ending Sept. 30:
President Bidford in February last was quoted as saying: "We have
expended in the last year about $500,000 on the plant at Summit. We
shall, in the coming fiscal year, spend thereon perhaps $2,000,000. The
plants outside of New York were in such deplorable condition that we
have put into them about $3,000,000, all out of earnings. We have these
plants now in first-class condition. We have built two can factories,
one at Davenport and one at Granite City, at a cost of $400,000. In the
last year also we spent $500,000 in changing our process of manufacturing
glucose to eliminate the use of sulphur dioxide, to comply with the Pure
Food Act. This expenditure has not helped our business in the least,
but we had to make It."
The original plans for the plant at Summit called for a total outlay of
between $3,000,000 and $61,000,000, the property to include33 structures
and 20 miles of railroad track and to have a grinding capacity of 50,000
bushels a day and an output capacity of 100,000 bushels. The construction of the final two sections, however, will be deferred until some future
time. The portion now building will be completed in the fall of 1909 at a
cost of $000,000 and will have an output capacity of about 00,000 bushels.
The company's present capacity Is placed at 125,000 bushels of corn Three
Total
a day, as against an estimated 40,000 bushels for the independent conIncome.
M03.cerns. The company some time since disposed of five old plants for 1908
$160,000
a sum reported as $600,000, these Including the Peoria, Marshalltown, 1907
160,000
Rockford, Geneva and Venice Mills. Operations, It is said, are to be conMos.centrated at New York, Waukegan and Summit. The company Is under- 9
$540,000
1908
stood to be operating at present on a basis about 75% of normal, but 1907
517,500
earnings are affected by the high price of corn. The plan to undertake the -V. 86, p. 1592.
manufacture of baking powder, it is said, Is held in abeyance, if not entirely abandoned, as a result of an understanding of some kind with the
New Haven Iron &
Royal Baking Powder interests.
Net
Mexican
Balance,
Dividends
Income.
Govt.
Surplus.
Paid.
$144,000 $7,500 (2 3i %)$71,752 $64,748
70,748
150,000
7,500 (25i%) 71,752
481,000
494,000
23,000 (7% %)215,256
25,500 (7M %)215 254
242,744
253,746
Steel Co.-Earnings.-The company
reports for the fiscal year ending August 31 1908 a loss of
$11,778, after allowing for a depreciation of $13,624 in
value of inventory.
New President.-Kennedy Crossm an has been elected
President to succeed C. C. Kaufmann, who resigned.V. 85, p. 1517, 808.
Norfolk County Water Co., Norfolk, Va.-See American
Pipe Mfg. Co. above.
Northern California Power Co.-See Northern (Jaliforna
Power Co., Consolidated, below.-V.87, p. 542.
Northern California Power Co., Consolidated.-Enlargement-New Mortgage.-This company was incorporated in
California on Aug. 27 1908 with $10,000,000 of authorized
capital stock in shares of $100 each, to consolidate the,
Northern California Power Co. (See V. 87, p. 542; V. 77,
Rzfra Dividends on Common Stock.
p.254),and its controlled companies,with a view to obtaining
(In addition to the 10% per annum paid regularly since Oct. 1 1902.)
additional funds for extensions and additions. It is estiFeb.
Oct.
Oct.
Nov.
Dee.
Dec.
Map.
Jan.
May
1908.
1908.
1907.
1907.
1906.
1906.
1908. 1908. mated that by Jan. 1 1910 the company will have a ready
1906.
2% 2%
5%
5%
5%
5%
23%
2%
market for 30,000 h. p. A meeting has. been called for
Compare V. 86, p. 855.-V. 87, p. 169, 680.
Nov. 11 to authorize an issue of $10,000,000 bonds, of which
Edison Electric Illuminating Co. of Boston.-New Direc- $1,473,000 will be set aside to take care of existing bonds,viz.:
tor.-Charles Francis Adams 2d has been elected a director Northern California Power Co., of which $139,000 are to be exchanged for $134,000 outstanding of the Keswick Power Co.
to succeed Robert Bacon, who resigned.-V. 87, p. 742.
$990,000
bonds)
Creek Power Co. ($423,000) and Redding Water Co. ($60,Battle
Farmers'0o-operative Harvesting Machine Co., Lancaster,
483,000
000)
Ohio.-Receiver's Sale.-Receiver C. S. Olinger, Springfield,
Decision.
-Favorable
Co.
Mining
Consolidated
Osceola
0., announces that he will sell at auction the property at
Lancaster, Ohio, on Oct. 15 and the property at Springfield, Judge Knappen,in the United States Circuit Court at Grand
Rapids, Mich, on Oct. 3, handed down a decision dismissing
Ohio, on Oct. 19.-V. 86, p. 483.
the suit brought by President A. S. Bigelow, in which a
.
Ore
Iron
Properties -Dividend Prospects.- temporary injunction was granted in April 1907 restraining
Great Northern
The "Boston News Bureau" of Oct. 8 quotes James J. Hill the Calumet & Hecla Mining Co. from voting the stock held
as saying in substance:
by it, on the ground that its ownership of the same is in
The previous Great Northern Ore payments were made out of the ac- contravention of anti-trust laws. The Calumet Company on
cumulated surplus. There Is nothing In the box now and you can't pay
out of the 96,150 shares issued.
when the box is empty. Under the terms of the deed of trust the trust ees April 30 last owned 22,671
Cuyahoga Telephone Co.,Cleveland.-Leases Approved.The shareholders of the Cuyahoga Telephone Co., United
States Telephone Co. and Columbus Citizens' Telephone Co.
ratified this week the proposition to lease the properties of
the several companies for 999 years to the new operating
company which Frank A. Davis, Harry M. Daugherty,
Edwin R. Sharp and F. R. Huntington of Columbus are
planning to organize. See terms of leases in V. 87, p. 547.
East Jersey Water Co.-See American Pipe Mfg.Co. above.
Eastman Kodak Co. of New Jersey.-Extra Dividend.The directors have declared an extra dividend of 5% on the
($19,586,200) common stock, payable Dec. 1 to shareholders of record Oct. 31. This increases the amount distributed as extras during 1908 to 15%, against 10% in 1907.
must pay out money when they get It. The fiscal year of the trust ends
Dec. 15, and it is not until then that the Steel Corporation must pay for
the amount of ore (minimum amount 750,000 tons-Ed.) which, according to the lease, It must pay for in 1907. On or before that date the company will have paid about $2,000,000 since the lease was made.
But the Steel Corporation has not taken a ton of(re out of the lands
leased to It. It has been engaged exclusively in exploration work, drilling and stripping the surface above the ore bodies, and in making arrangements for rapid economical mining. The ore lies as a rule from 60 to more
than 100 feet under the surface. In this exploration work It has expended
approximately $4,000,000, so that by the end of the year the company will
have paid about 16,000.000 without extracting a ton of ore. The exploration work showed the mines to contain a much greater amount of ore than
was estimated at the time of the contract. The estimates then ranged
between 500,000,000 and 750,000,000 tons.
Regarding reported negotiations for transfer of Northern Pacific's equity
In Burlington to Great Northern, Mr. Hill said: "That's been dead for
months."
"What about the rumors of an extra dividend on Northern Pacific?" he
was asked. "Do you take that talk seriously? You'll guess on the right
side If you don't," he replied.-V. 87, p. 742.
The Court holds that the Michigan State law of 1905 expressly conferred
the right to hold and vote the stock and that the ownership is not opposed
by the Federal anti-trust laws. The opinion Is given at length In the
"Boston News Bureau" of Oct. 5. The annual meeting of the Osceola Company was adjourned until to-day, when the Calumet & Hecla interests will
elect a new board of directors, unless another injunction should be secured
pending a hearing of the case by the United States Supreme Court. Judge
Lowell in the United States Circuit Court at Boston on Oct. 8 granted an
injunction restraining Mr. Bigelow and G. M. Hyams from c ntcsting the
vote of the Calumet Company on the stock owned at the annual election
to-day. Compare V. 84, p. 1054, and report of Calumet & Hecla Cornpany, V. 87. p. 284.-V. 87, p. 291.
Paris Mountain Water Co., Greenville, S. 0.-See American Pipe Mfg. Co. above.
Pillsbury-Washburn Flour Mills, Ltd.-Financial Status.
-See "Annual Reports."
Receivers' Certificates.-Judge Milton D. Purdy in the
Federal Court, sitting at Minneapolis, on Oct.6,
Indiana Lighting Co.-Properties Transferred.-Title to United States receivers to issue $750,000
receivers' certifithe several constituent companies recently purchased for authorized the additional working capital and for payment
the company at foreclosure sale was taken over on or about cates to provide
of debenture interest due Nov. 1.
Oct. 1. Compare V. 87, p. 419.
A meeting of the debenture holders has been called for Oct. 27 at Win
The shareholders are
chester House, London, to consider the situation
Lake Superior Corporation.-Again Extended.-The $1,- represented
In London by a committee headed by Lord AveburY; the
000,000 notes of the Canadian Improvement Co. (which as- debenture holder
by Slaughter & May. The 80 elevators of the MinneapoCo.(47 in North Dakota and 33 in Minnesota) have
sisted in financing the reorganization and rehabilitation of lis & Northern Elevator
leased till Aug. 1 1009 to Charles M. Amsden for a rental of jic. a
the property in 1904) have been extended from Oct. 1 1908 been
bushel handled, but not less than $22,500. The operating expenses of the
been reduced at the rate of $80,000 per
for six months or thereabouts at 5%. These notes are guar- Pillsbury-Washburn Co. have
under the receivers and It is asserted that, with proper management,
anteed by the Province of Ontario (V. 78, p. 1784; V. 85, p. annum
the company should earn $500,000 a year from its milling business, while
Its water-power plants should yield $400,000 yearly.-V.87. p. 017, 483.
1465).
Meeting Adjourned.-The annual meeting was adjourned
Rochester & Lake Ontario Water 0o.-See American Pipe
on Wednesday because of a legal technicality.
Mfg. Co. above.- V. 76, p. 1146.
Only 194,076 of the $50 shares were represented and no election of
Rochester & Pittsburgh Coal & Iron Co.-Called Bonds.directors, it is stated, would have been stood In any case. Vice-President
J. Tatnall Lea Is quoted as saying that the total bank indebtedness of the Eighteen Helvetia property purchase-in oney mortgage bonds
associated companies is now only $660,000, contrasting with about $2,200,have been drawn for payment Nov. 1 1908 at 110 and interest
000 three years ago.
the Central Trust Co.-V. 85, p. 1085.
at
Report.-See "Annual Reports" on a preceding page.
-V. 87, p. 815, 419.
For other Investment News see page 952,
939
THE CHRONICLE
OCT 10 1908.1
illeparts and ,POCIllittnitti
ILLINOIS CENTRAL RAILROAD COMPANY.
30 1908.
FIFTY-EIGHTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE
To the Stockholders of the Illinois Central Railroad Company:
operations and affairs of the company for the fiscal year ended
The board of directors submit herewith their report of the
June 30 1908:
4.877.44
Central Railroad Company on June 30 1907 was
The number of miles of railroad operated by the Illinois
There was added during the year—
, Ala., as follows:
On April 19 1908 the line from Jackson, Tenn., to Birmingham
Macs.
3.04
51.31
80.16
40.73
39.61
1.29
.40 216.60
Perry. Tenn
Jackson & Southeastern Railroad, Frogmoor, Tenn., to
Mobile & Ohio Railroad, Perry, Tenn., to Rusior. Miss
Railroad, Rulsor, Miss.. to Haleyv lie, Ala
Mississippi & Alabama Railroad and Alabama Western
Ala
Northern Alabama Railroad, Haleyville, Ala., to Jasper.
Jasper, Ala., to Birmingham, Ala.
Kansas City Memphis & Birmingham Railroad,
Birmingham Belt Railroad, Birmingham, Ala
Southern Railway, Birmingham, Ala
Total
Atoka, Tenn., to Kerrville, Tenn., was placed in operation, reducing the mileage
On September 12 1907 the double-track div,rslon from
1908
30
June
Making She number of miles in operation on
4.594.04
.23
4.593.81
company during the year ended June 30 1908 was 4,420.46
The average number of miles of railroad operated byanthis
of 49.69 miles.
increase
year,
preceding
the
in
miles
miles, as against 4,370.77
ion.of revenues and expenses as prescribed by the Inter State Commerce ComOwing to the radical change in the classificat
1 1907, it is impracticable to make an actual comparison in all items with the previous
mission, which became effective July latter
are, however, approximately on the basis of those for this year. The net result
the
for
submitted
year. The figures
is not effected.
INCOME FOR THE YEAR.
income for the year compared with the previous year:
The following is a statement of the Company's
1908.
Average miles operated during the year
T1
Total operating income
Gross expenses
61 Revenue from transportation
2 Revenue from operations other than transportation
3 Total operation revenues
4 Operating expenses
5 Net operating revenues
6 Taxes
7 Operating income
Income other than from operations8 Incident to operation
F9 Income from investments. eco
Total
10
11 Total Income
11)
12 Expenses other than operating expenses (Tabl
13 Interest on funded debt
14 Rent of subsidiary railroads
15 Total fixed charges and rents
16 Total deductions from income
17 Surplus for year
18 Surplus dividend fund previous year
19 Total surplus
Applied as follows7 per cent dividend on outstanding capital stock
Permanent improvements
Replacement of equipment
Surplus dividend fund
Profit and loss
1907.
Increase(+)or
Decrease(—)•
4,420.46
4,370.77
+49.69
$57,187,656 22
41,580,353 76
$59,528,097 04
40,765,170 88
—$2,340,440 82
+815.182 88
$52,463,180 24
367,246 59
52,830,426 83
37,893,478 82
14,936,948 01
2,190,173 02
12,746,774 99
$55,272,807 00
240,127 14
55,512,034 14
37,937,294 79
17,575,639 35
2,217,817 76
15,357,821 59
—92,809,626 76
+127,119 45
—2,682,507 31
—43,815 97
—2,638,691 34
—27,644 74
—2,611,046 60
4,357,229 39
2,358,524 95
6,715,754 34
19,462,529 33
3,686,874 94
4,569,860 00
3,209,395 13
7,779,255 13
11,466,130 07
7,996,399 26
1,360,184 42
9,356,583 68
4,015,162 90
2,818,575 10
6,833,738 00
22,191,559 59
2,827,876 09
3,969,860 00
3,706,732 39
7,676,592 39
10,504,468 48
11,687,001 11
1,313,826 92
13,000,918 03
+342,066 49
—460,050 15
—117,983 66
—2,729,030 28
+858,998 85
+600.000 00
—497,337 26
+102,662 74
+961,661 59
—3,690,691 85
+46,357 50
—3.644,334 35
6,652,800 00
6,652,800 00
3,794,986 97
192,946 64
1,360,184 42
1,000,000 00
—3,794,986 97
+854,016 36
4 48,002 50
—751,366 24
1,046,963 00
1,408,186 92
248,633 76
fiscal year was very satisfactory, and neutralized,
The volume of traffic handled during the first four months of the present
October 1907.
of
y
stringenc
financial
the
in a measure the decline in business following
$59,528,097 04 last year,a decrease of $2,340,The total operating income was $57,187,656 22 this year,:as compared with
440 82, or 3.93 per cent.
of $2,675,459 86, or 7.03 per cent, as compared
Freight revenue for the year amounted to $35,357,810 92, a decrease
as a result of the business depression during
directions
all
in
n
stagnatio
the
to
due
with the previous year, the decrease being
of operations at the coal mines along
May
of
middle
the
to
1
April
from
n
suspensio
the greater portion of the year. The
the line was also an important factor.
98 35 this year, being a decrease of $195,734 24, or 1.75 per
The revenue from passenger business amounted to $10,991,7
passenger revenue is ascribed, partially, to a. reduction in
in
decline
The
year.
cent, under the revenue of the preceding
in Iliinois and Iowa, and in part to the general depression
railroads
the
upon
forced
per
mile,
fares from 3 cents to 2 cents
in business.
with $40,765,170 88 last year,an increase of $815,182 88,
The gross expenses for the year were $41,580,353 76,as comparedthis year, as against 68.5 per cent.in the previous year.
income
the
of
cent
per
72.7
were
,or 2 per cent. The expenses
in an effort to curtail the expenses, without diminishFollowing the decline in business, the closest supervision was exercised
than offset by the increase in amount paid for hire
were
more
effected
s
economie
the
the
but
service,
ing the efficiency of
in wages, owing to advanced rates of pay.
and
handled,
cars
foreign
of
.of equipment incident to the greater number
$2,217,817 76 in the previous year, a decrease
with
02,as
compared
3
$2,190,17
were
under
report
The taxes for the year
total income this year and 3.7 per cent last
the
of
per
cent
3.8
ed
constitut
taxes
,of 827,644 74, or 1.25 per cent. The
the amount accrued to the State of Illinois
lines,
charter
the
on
traffic
in
off
falling
the
year. This result was due to
year.
previous
the
with
27
compared
as
$88,078
showing a decrease of
or 18.91 per cent, a striking commentary on the
The net income from operation of the road decreased $3,127,978 96,
one hand and increase in wages on the other.
the
on
rates
of
reduction
for
t
country
the
wide-spread agitation throughou
CAPITAL STOCK.
ers adopted a proposal to increase the capital stock by a new
stockhold
the
1908,
18
May
on
At a special meeting held
and twenty (285,120) shares of one hundred dollars ($100.00)
hundred
one
,
thousand
e
issue of two hundred and eighty-fiv
hundred and twenty-three million five hundred and fifty-two
one
company
the
of
stock
capital
each, thus Making the whole
of paying for, constructing, improving or maintaining
the
purpose
for
being
increase
thousand dollars ($123,552,000 00), the
should be at once issued to the stockholders at
stock
new
of
said
one-half
that
provided
the lines of the corn pany. It was
on July 7 1908 and the balance on or before
made
be
to
first
payment
the
ly,
respective
par in proportion to their holdings,
in the company's treasury, and be thereheld
be
issue
should
new
the
of
half
remaining
the
September 17 1908, and that
directed.
manner
after disposed of in the
940
THE CHRONICLE
[VOL. txxxvii.
FUNDED DEBT.
Illinois Central Railroad CompanyBonds outstanding July 1 1907
Bonds issued during the year--,-rirst lien equipment four per cent
3120,819,275 00
30,000,000 00
$159,019,275 00
. St..Louis & New Orleans Itailroad CompanyChicago
Bonds outstanding July 1 1907
____________________________________________________________ _ ____________ $16,234,000 00
Retired during the year•
Second mortgage currency sixes matured December 1 1907
,80,000 oo
$16,154,000 00
Issued during the yearGold lives of 1951, issued.in lieu of bonds matured ______________________ ________________________________________
__________
The first lien equipment bonds are in the company's treasury.
For further details as to funded debt, see Table No. 6.
moo oo
$16,234,000 00,
BONDS OWNED-TABLE No. 3.
The increase of $27,757,20003 is owing to the addition of $30,000.000 00 first lien equipment four
per cent bonds issued
during the year: $80,000 00 Chicago St. Louis & New Orleans gold five per cent bonds of 1951 received
in payment for
a like amount of second mortgage six per cent bonds of the same company matured and paid December 1 1907;
48
Dubuque & Sioux City four per cent bonds received in adjustment of the results of operation of that road for$85,703
the year;
$562,602 93 Indianapolis Southern five per cent bonds being increase in hook value of bonds account of expenditures
for
improvements on the line between Effingham , Ill., and Switz City, Ind. as provided for in centract, also
received in payment for equipment sold to that company; $1,338,00000 Tennessee Central prior lien fouradditional bonds
per cent bonds
transferred from "Advances to other railroads" and the deduction of $4,195,106 38 Yazoo & Mississippi
Valley gold
improvement four per cent bonds returned to that corn pany in connection with settlement for
property
and Memphis and for advances made on account of additions and betterments; and $114,000 00 Mississippi at New Orleans
Valley Corporation four per cent bonds transferred to the assets of the various funds.
SURPLUS DIVIDEND FUND.
The sum of $48,002 50 derived from interest on assets in surplus dividend fund has been added to the fund,
which now
amounts to $81,408,186 92.
INSURANCE FUND -TABLE No. 8.
After the payment of all losses by fires, the fund was increased during the year by $116,593 54, through charges
to
operation and interest on assets in the fund. The balance in the fund June 30 1908 was $2,032,126 31.
SINKING FUNDS.
The trustees of the Cairo bridge fund report, that on June 30 1908, they held:
For the contingent fund the same amount as last year, viz., $504,750 11; for the sinking fund $145,650 35, an increase
of $24,840 71 for the year• for the credit of the Chicago St. Louis & New Orleans Railroad Company, subject to the order
of the board of directors of
' that company, $231,174 47, an increase of $37,887 04 during the year.
Thg trustees of the other funds report that they held as of June 30 1908 in the sinking fund for Western lines bonds
$792,709 01, being $76,171 36 increase for the year; and in the sinking fund for Omaha division bonds $86,777 04,an increase of $13,051 07 for the year.
The additions to these funds during the year amounted in the aggregate to $151,950 18.
CAPITAL EXPENDITURES.
The charges to, capital account, all of which were taken into cost of railroad and equipment, were as follows:
Transferred from advances on account of other railroadsMemphis & State Line RR.-cost of construction
__________________________________________ $2,225,864 50.
__ _ _
___
Cost of terminal property purchased from The Yazoo ____ Mississippi Valley
Company_ Railroad
New Orleans-Passenger station, Stuyvesant docks, Harahan yard, and various tracks in connection therewith
4,922,275 53
______________________
Memphis-Freight station on Shelby Street
200,000 00.
Additions and betterments, per Table No. 14Right of way and station grounds
_ _ ____________________________________________________________
$41 968 59
Widening cuts and his, grade reduction, ____________________________________________ _______
47'151 16
Track elevation, elimination of grade crossing-s, ddc
____________________
364:323 78
Increased weight of rail ballast, &c
175,809 2
Additional tracks
232.816 95
Bridges, trestles and culverts
175.223 34
Station buildings and flxtures
126,750 68
Shops, engine-houses and turn-tables
57,577 77
Water and fuel stations
64,469 67
Miscellaneous structures
82,041 53
Shop and road tools ________________________________________________________________________________________
38,751 71
New lines
_____________
128,774 82
Other expenditures
7,199 17
$1,542,858 44
Equipment _______________________________________________________________________________________________ 5,706,836 43
:
7,339,694 87
$14,687,834 90
The Memphis and State Line Railroad was purchased during the year at the cost of construction,$2,225,864 50,including
the repayment to The Yazoo & Mississippi Valley Railroad Company of amounts which had been advanced by that company
toward the construction of portions of the line. The above amount and cost of improvements made subsequent
to acquiring
the property are now included in cost of railroad and equipment (Table No. 2). As stated in previous reports, this
road
provides a means for moving trains around the city of Memphis, thus avoiding the delays incident to operation through.
the local yards.
This corn pony during the year purchased from the Yazoo & Mississippi Valley Railroad Company at an
aggregate cost
of $5,122,275 53 the following properties at New Orleans, La., and Memphis, Tenn.:
At New Orleans, La., the Passenger station, Stuyvesant docks and Harahan yard, together with real estate and improvements in connection therewith for $4,922,275 43.
At Memphis, Tenn. the real estate on which the Shelby street freight house is located forf$200,000
The amount paid and cost of improvements made by this company are included in cost of rairoad and00.
equipment (Table
No. 2).
ADVANCES ON ACCOUNT OF OTHER RAILROADS-TABLE No. 5.
,
KENSINGTON & EASTERN RAILROAD.
This line was fully described in report for last year. His expected to have the road ready for operation about
Nov. 11908.
The amountadvanced
l
to June 30 1908 was $624,992 81, of which $530,220 14 was expended during the last year.
LINE TO NASHVILLE, INCLUDING TERMINALS.
The total a ount expended to June 30 1908, including cost of prior lien bonds ($1,338,000 00 par value) of the Tennessee
Central Raihiad Company, ,was $2,642,966 83, of which $196,599 37 was expended during the year.
The operation of the road from Hophinsville, Ky., to Nashville, Tenn., proved unsatisfactory
gross receipts
for the threelyears ended June 30 1908, during which period the road was operated•under an in that the
option to purchase, were
$1,054,008 48t, while the operation expenses and taxes were $1,355,058 62, and the resulting deficit
was $301,050 14, andaccordingly the company did not avail of the option, and on June 30 1908 surrendered the possession of the property
to its
owners. Thet deficit has entered into and been absorbed in the operations of the Illinois Central
railroad.
The paymetts of interest on the general mortgage bonds of the Tennessee Central Railroad Company
and the first
bonds of the ashville Terminal Company, the liquidation of car trust notes and certain other obligations of themortgage
vendors,
as provided i the option, together with additions and betterments made to the property in
order to operate safely and
permit devel.lpment of its business, involved an expenditure of $908,864 16, a considerable portion
of which will, in the
final adjustm nt of the account, be a loss to this company.
LINE TO BIRMINGHAM, ALABAMA.
This line, it's described in previous reports, was completed during the year, and formally placed in operation on
April 19
1908. The total cost to Jung 30 1908 was $6,010.850 89, of which $2.161,678 17 was expended during the year.
f
BLOOMINGTON SOUTHERN RAILROAD.
There was S31,500 00 advanced during the year, making a total of $71,500 00 expended on this road to date.
It is now
operated by the Indianapolis Southern Railroad Company under a lease.
THE CHRONICLE
OCT. 10 1908.1
941
EQUIPMENT REPLA.CEMENT.
For many years it has been the practice of this company to replace,piece by piece, with modern engines and cars,all equipment which passed out of cxistance during each year. The entire cost of the new equipment,less the salvage in that -passed
out's charged to operating expenses. As there has been a constant increase in size, efficiency and cost of engines and.
cars; the new equipment has been of much greater value than that which it replaced and the value of the equipment asn
whole‘ has been fully maintained.
The orders promulgated by the Inter State Commerce Commission,with reference to accounts,.forbid charging.operating
expenses with the excess cost of the new over the old equipment. In order to maintain the equipment on a basis similar
to that which has heretofore existed, there has been set apart from the income of the year $1,046,963 00,which,added to the
other ,available repacement funds,will provide for the replacement of all equipment out of existance at the end of the year
and make good all depreciation.
STANDARDS OF MAINTENANCE.
The policy of improving the standards of maintenance has been strictly followed. The average weight of rail in main
track is 75.61 pounds per yard, as against 74.77 pounds last. year. The average hauling capacity of locomotives on level
track has been increased from 4,020 to 4,096 tons, the average capacity of revenue freight cars from 36.22 to 37.69 tons.
The average age of rails on 411 the main tracks is 9.80 years, that of locomotives 12.32 years and that of'revenue freight
cars 6.93 years.
All of the 1,286 engines, the 861 passenger, mail and express cars, the 61,523 freight cars and the 2,466 work cars shown
in the inventory are in existence, excepting 13 locomotives, 21 passenger cars, and 1,038 freight cars. Provision has- been
made to replace the vacant equipment during the ensuing year.
In addition to the new equipment shown in Table No. 14, and charged to capital, there have also been bought or built
during the year 4 locomotives and 1,462 new freight cars, to replace old ones disposed of or destroyed.
Passenger train equipment is all provided with air-brake appliances, and 97.75 per cent of the freight cars is likewise
equipped.
ADDITIONAL MAIN TRACK.
At the close of the year there were in service 684.32 miles of second main track and 100.74 miles of third and additional
main track, making altogether 785.06 miles, being 33.97 miles more than last year. During the year the double-track
diversion from Atoka to Kerrville, Tenn., 5.79 miles, was completed and placed in operation.
The attention of the stockholders is invited to the accompanying tables showing further details of the company's business.
By order of the board of directors.
Chicago, September 16th 1908.
J. T. HARAHAN, President.
TABLE NO. 1.-ASSETS AND LIABILITIES.-JUNE 30 1908 AND 1907.
Table.
2
3
4
ASSETS.
Capital AssetsRailroad and equipment
Bonds owned
Stocks owned
June 30, 1908. June 30, 1907. Table.
$207,001,196 66 $192,313,361 76
86,613,920 25 58,856,720 22
6,753,234 89
6,734,654 89
6
$300,349,771 80 $257,923,316 87
6
LIABILITIES.
June 30, 1908.
June 30, 19071
Capital LiabilitiesCapital stock
$95,040,000 00 $95,040,000 00
Leased line stock
10,000,000 00 10,000,000 00
Funded Debt-Illinois Central RR.
Co
159,819,275 00 129,819,275 00
Funded Debt-Chicago St. Louis &
New Orleans RR. Co
16,234,000 00 16,234,000 00
$281,093,275 00 $251,093,275 00
Current A ssetsCash
Bills receivable
Due from agents
Remittances in transit
Individuals and companies
U. S. P. 0. Dept
- Material and supplies
5
Deferred AssetsAdvances for cross ties
Individuals and companies
Due from subsidiary companies__
Miscellaneous
Advances account other railroads_
St. L. A. & T. H. and subsidiary
lines suspense account
$1,589,723 81
463,828 14
383,97730
1,324,419 02
1,905,375 92
268,295 01
5,147,999 06
$1,006,664 54
116,333 83
475,173 15
1,722,258 90
2,047,093 82
259,594 70
4,183,528 95
$11,083,618 26
$9,810,647 89
$179,885 60
550,418 76
2,394,322 44
341,034 74
8,302,423 64
$83,261 60
188,482 29
1,439,064 33
335,198 71
7,581,728 72
3,328,300 00
3,328,300 00
Current LiabilitiesDividend payable Aug. 31 1907_
Dividend payable Sept. 1 1908_
Coupons matured but not presented
Coupons due July 1
Dividends due but uncalled for
Dividends payable July 1
Bonds satisfied of mortgage
Loans and bills payable
Outstanding drafts
Traffic balances
Individuals and companies
Vouchers and pay-rolls
$3,326,400 00
$3,326,400 00
59,122 50
1,063,450 00
22,219 20
200,000 00
1,000 00
8,400,000 00
500,876 44
185,165 26
20,834 46
6,970,913 71
$20,749,981 57 810.864,456 47
Deferred LiabilitiesInterest accrued on bonds and loans
to June 30
Taxes accrued but not due
Individuals and companies
Installments on new stock
Loans and bills payable
Stock and funded debt of St. L
A. & T. H. and subsidiary lines
$15,096,385 18 $12,956,035 65
8
Contingent AssetsAssets In Insurance fund
Improvement fund
"
Surplus dividend fund __
"
Pension fund
"
Unadjusted accounts
Real estate
Collateral held against bank accts_
Advances to associations
$2,032,126 31
1,408,186 92
250,000 00
1,471,651 83
1,246,391 29
53,500 00
11,506 75
$1,015,532 77
570,557 62
1,360,184 42
250,000 00
1,044,082 40
1,007.105 65
103,500 00
7,606 67
$6,473,453 10
$6,258,569 53
$333,003,228 34 $286,948.569 04
Total assets
9
$809,337 37
662,742 68
90,925 46
911,875 00
15,190,000 00
10,298,500 00
3,328,300 00
3,328,300 00
$652.691 46
709,477 88
208,721 35
$20,993,180 51 $15,197,690 89
Contingent LiabilitiesImprovement fund
Insurance fund
Pension fund
Replacement of equipment tuna ._
Fund for auto. couplers and air
brakes
Trust accounts
Employes' hospital fund
Unadjusted accounts
Due to proprietary companies..
Miscellaneous
$570,557 62
1,915,532 77
250,000 00
488,269 72
$2,032,126 31
250,000 00
1,051,099 84
Balance to credit of Profit and Loss
Total liabilities
73,043 75
1,063,450 00
28,155 30
200.000 00
1,000 00
400,000 00
299,715 47
288,335 48
7,303 57
5,177,052 90
29,942 42
69,565 80
12,118 62
1.033,537 38
26,238 74
9,460 00
32,237 06
114,600 73
18,078 29
874,727 05
$4,514,089 11
84,272,003 24
$5,652,702 15
85,521,144 54
8,000 00
$333,003,228 34 $286,948.569 J.
TABLE NO. 2.-RAILROAD AND EQUIPMENT.
Illinois Central RR.-Proper
Illinois Central RR.-Purchased Lines:
Litchfield Division
Chicago & Springfield
Kankakee & Southwestern
Chicago Havana & Western
Rantoul
Chicago Madison & Northern
itiversine & Harlem
Chicago & Texas
, Mound City
St. Louis Division (St. Louis Alton & Terre Haute)
Mattoon to Evansville
Peoria Decatur & Mattoon
St. Louis & Ohio River
Mounds & Olive Branch
.
Groves & Sand Ridge
Christopher & Herrin
Illinois Central-Terminals:
New, Orleans-Passenger Station, Stuyvesant docks, Harahan yard
Memphis-Shelby Street freight house
Memphis-Memphis and State Line
South Chicago RR
Blue Island 'RR
Canton Aberdeen & Nashville RR
Chicago St. Louis & New Orleans RR
Louisville Division lease and mortgage lien
Lien on Dubuque & Sioux City RR. to secure I. C. Western Lines bonds
Omaha Division
Total
,
June 30 1908.
June 30 1907.
$72,009,371 28
$65,611,327 42
$6,398,043 86
3,256,331 53
2,584,682 47
1,438,943 41
1,849,460 53
584,281 49
10,912,084 36
205,583 14
1,917,170 90
12,968 68
13,001,946 91
2,067.911 99
3,179,938 42
285,062 21
263,527 12
532,595 91
90,703 10
3,244,185 31
2,552,834 54
1,438,943 41
1,848,264 21
584,339 79
10,877,359 49
205,583 14
1.852,828 43
12,968 68
12,959,256 48
2,064,013 25
3,168.870 74
285,062 21
261,885 19
532,078 68
78,559 77
12,146 22
31,847 93
4,936,255 09
289,189 42
2,280,298 99
260,486 73
73,264 20
2,021,472 27
44,981,711 32
27,540.955 19
5.425,000 00
5,000,000 00
255,972 25
71,373 45
2.018,178 41
44,843,166 92
27,121,309 99
5,425,000 00
5.000.000 00
$207,001,196 66
$192,313,361 76
Increase.
Decrease.
1,196 32
,
$58 30
34,724 87
64,342 47
42,690 43
3,898 74
11,067 68
1,641 93
517 23
12,143 33
4,936,255 09
289,189 42
2,280,298 99
4,514 48
1,890 75
3,293 86
138,544 40
419.645 20
$14,687,834 90
•
FOL. LXXXVII.
THE CHRONICLE
942
TABLE NO, 3.-BONDS OWNED.
June 30 1907.
June 30 1908.
Book Value,
Par Value.
Illinois Central Gold Fours of 1953
halts of 1953
Illinois Central Gold, Louisville Division, Three and a
1951
Illinois Central Gold, St. Louis Division, Threes of
1951
of
Threes
Division,
Litchneld
Gold,
Central
Illinois
Illinois Central Gold, Purchased Lines, Three and a halts of 1952_
Illinois Central Gold, First Llen Equipment Fours
-Chicago St. Lo its & New Orleans RR. Co. Gold Fives
Yazoo & Miss';sippi Valley RR. Co. Gold, Improvement Fours
of 1934, h egistered.
Dubuque & Sinma City RR. Co., Gold Fours of 1951
Indianapolis So,uthern RR. Co., Gold Fives
Mississippi Valley Corporation Fours of it 3, Registered
Mississippi Oen tral Second Mortgage (pastdue)
of 1917
Iowa Falls & Si)ux City RR. Co. First Morgage Sevens
Tennessee Central RR. Co. Prior Lien Fours of 1034
Bonds Ne WedSee Table No. 7.
Yazoo & Misslissippi Valley RR. Co. First Mortgage Gold Fives
of 1952_
Cherokee & lakota RR. Co. First Mortgage Gold Fives of 1935 $3,100,000 00
Cedar Rapid ; & Chicago RR. Co. First Mortgage Gold Fives
830,000 00
of 1935_
Louisville New Orleans & Texas By. Co. First Mortgage Gold
00
$16,832,000
934
Fours of 1
Louisville N ;w Orleans & Texas By. Co. Second Mortgage
0,104,000 00
Fives of 1034
Louisville New Orleans & Texas By. Co. Land Grant Income
9,904,000 00
Bonds of 1934
Total
Par Value.
Book Value.
371,000 00
2,100,000 00
101 50
87,000 00
2,662,000 00
371,000 00
2,100,000 00
275 00
87,000 00
2,662,000 00
30,000,000 00
80,000 00
371,000 00
2,100,000 00
101 50
87,000 00
2,662.000 00
30,000,000 00
80,000 00
371,000 00
2,100,000 00
275 00
87,000 00
2,662,000 00
6,152 747 18
706,556 16
9,950.507 99
3,053,000 00
600 00
460,500 00
1,338,000 00
6,152,747 18
706,556 16
8,678,476 55
3,053,000 00
GOO 00
523,073 13
1,338.000 00
10,347,853 56
620,852 68
9,783,200 21
3,167,000 00
600 00
460.500 00
10,347,853 56
620,852 68
8,115,873 62
3,167,000 00
600 00
523,073 13
556,662,186 33
$55,452,554 52
$29,300,371 45
327,695,354 49
32,800,000 00
$2,324,488 18
$2,800,000 00
$2,324,488 18
3,030,000 00
3,030,000 00
3,930,000 00
3,930,000 00
35,840,000 00
24,006,877 55
35,840,000 00
24,906,877 55
399,232,186 33
$86,613,920,25
$71,870,371 45
$58,856,720 22
TABLE NO. 4.-STOCKS OWNED.
June 30 1007.
June 30 1908.
Illinois Central Railroad Co. stock and scrip
Chicago St. Louis & New Orleans Railroad Co
Dubuque & Sioux City Railroad Co
Chicago Union Transfer Railway Co
Peoria & l'ekin Union Railway Co
Other stocks
Total
Par Value.
Book Value.
Par Value.
Book Value.
$6,690 00
10,200 00
10,466.200 00
80,000 00
250,000 00
311,400 00
36,690 00
10,200 00
6,430,889 02
40,000 00
203,200 00
43,675 87
$25,270 00
10,200 00
10,466,200 00
80,000 00
250,000 00
311,400 00
$25,270 00
10,200 00
6,430,889 02
40,000 00
203,200 00
43,675 87
311,124,490 00
$6,734,654.80
311,143.070 00
36,753,234 89
TABLE NO. 5.-ADVANCES ON ACCOUNT OF OTHER RAILROADS.
Amount Advanced to June 30
a908,864 16
6396,102 67
6,010,850 89
71,500 00
120,000 00
$166,333 68
94,772 67
3,779 45
861,302 76
a2,078,760 14
5367,607 32
3,849,172 72
40,000 00
120,000 00
$8,302,423 64
$7,581,728 72
$166,333 66
624,092 81
3,779 45
Canton Aberdeen & Nashville Railroad in Alabama
Kensington & Eastern Railroad
--------Rockford Railroad - _ _ - _ --- _ ----------Memphis & State Line -Railroad
Line to Nashville nd erminals in Nashville Railr
Other property
--- _ ---------------------Line to Birmingham -Bloomington Southern Railroad
Memphis Railroad Terminal Co
Total
Increase.
Decrease.
1007.
1908.
$530,220 14
$861,302 76
1,169,895 98
28,405 35
2,161,678 17
31,50000
3720,694 92
Nashville Terminal, operated under option to purchase.
a Expenditures on account of the Tennessee Central Railroad, including the
controlled Jointly by the Illinois Central Railroad and Southern
S Expenditures made by the Nashville Terminal Realty Company,a subsidiary company
and improving property in Nashville, Tenn.,outside of that embraced in the option to purchase.
of
Railway Companies,and organized for the purpose acquiring
TABLE NO. 8.-INSURANCE FUND.
Amount at credit of fund July 1
Added through monthly charges to expenses of operation
Collected from lessees, account of insurance
Interest received on Investments of the fund
Year Ended
June 30 1908,
Year Ended
June 30 1907.
31,915,532 77
120,000 00
11,671 70
78,100 00
$1,782,212 44
120,000 00
12,236 72
01,850 00
$2,125,304 56
03,178 25
$2,006,299 16
90,766 39
$2,032,126 31
31.915,532 77
Losses by fire
Amount at credit of fund June 30
TABLE NO. 9.-PROFIT AND LOSS, YEAR
Appropriated to renewal of equipment
Suspended claim account
Balance June 30 1908:
Surplus dividend fund
Balance
31,046,963 00
165,078 65
$1,408,186 92
4,244,515 23
ENDED JUNE 30 1908..
Balance brought forward, viz.:
Surplus dividend fund
Balance
Balance from Table No. 10
$1,360,184 42
4,160,960 12
$5,521,144 54
1,343,590 26
5,652,702 15
$6,864,743 80
$6,864,743 80
TABLE NO. 10.-INCOME ACCOUNT, YEAR ENDED JUNE 30 1908.
337,803,478 82
Operating expenses (Table No. 11)
2,190,173 02
Taxes
Expenses other than operating expenses (Table No. 11)_-__ 3,686,874 94
343,770,526 78
Total expenses and taxes
7,779,255 13
Fixed charges and rents (Table No. 13)
Dividends3,326,400 00
106th semi-annual cash dividend paid March 2 1908, 33.6%
107th semi-annual cash dividend payable Sept. 11908,35,5% 3.326.400 00
1,343,509 26
Balance to profit and loss (Table No. 9)
359,546,181 17
Operating revenue (Table No. 11)
Income incident to operations (Table No. 11)
352,830,426 83
4,357,229 39
Total
Income from investments, &c. (Table No. 12)
$57,187,65622
2,358,524 95
350,546,181 17
eel,. to loos.]
THE CHRONICLE
943
TABLE NO. 11.-OPERATING INCOME AND EXPENSES.
Year Ended
June 30 1908.
Year Ended
June 30 1907.
INCOME.
Revenue from transportationFreight
Passenger
Mall
Express
Milk revenue (on passenger trains)
Other passenger train revenue
Switching
Miscellaneous
835,357.810 92
10,991,798 35
936,094 80
1,254,995 52
166,002 76
186,042 16
403,578 87
3,166,856 86
138,033,270 78
11,187,532 59
900,260 07
1,186,475 85
160,139 50
188,249 73
(bal)279,864 64
3,337,013 84
Total
Other operating revenues
$52,463,180 24
367,246 59
$55,272,807 00
240,127 14
$52,830,426 83
$55,512,934 14
$1,240,731 06
2,711,040 15
405,458 18
$1,217,261 65
2,458,988 93
338,912 32
$23,469 41
252,051 22
66,545 86
$342,066 49
Total operating revenues
Income incident to operationsRent of tracks and property
Hire of equipment
Sundry other items
Total
_______
_____
Grand total
EXPENSES.
Operating expensesMaintenance of way and structuresSupervision
_______
Roadway and track
Signals and interlocking plants
Structures _
Work equipment
All other expenses
Total
Maintenance of equipmentSupervision
Locomotives
Passenger train cars
Freight train cars
Floating equipment
tools
Shop machinery a
All other expenses
Total
Traffic expenses ___________________________________________________
Transportation expensesSupervision
Passenger train expenses _
Freight train expenses _
Station expenses
Yard switching expenses
Telegraph and signals
Claims and damages
All other expenses
_______
___________________
______
__
_________
Total_
__
_________
General expensesSalaries and expenses of general officers
Salaries and expenses of clerks and attendants
General office supplies and expenses
Law expenses
Pensions
Pension department expenses
All other expenses
Total
Total operating expenses
E)menses other than operating expensesRent of tracks and property
Hire of equipment
Sundry other items
Total
Gross expenses (excluding taxes)
Taxes
Total expenses and taxesExcess of income over expenses and taxes
$4,357,229 39
$4,015,162 90
357.187.656 22
$59,528.097 04
$336,747 00
4,104,401 45
389,746 40
1,724,677 39
140,379 35
62,220 98
$295,533 48
4,186,330 07
235,570 02
2,100,951 53
114,947 90
67,133 89
$6,758,172 57
*7,000,466 891
$176,939 77
3,117,078 87
687,335 58
4,984,662 32
27,467 46
257,316 87
59,335 24
$144,972 31
2,630,853 63
665,583 47
5,345,242 74
8,423 65
350,097 34
235,932 76
Increase.
Decrease.
12,675,459 86
195.734 24
$35,834 73
68,519 67
5,863 26
2,207 57
123,714 23
170,156 98
$2,809,626 76
$127,119 45
*2,682,507 31
82,340,440 82
141,213 52
*81,928 62
154,176 38
376,274 14
25,431 45
4,912 91
$242,294 32
331,967 46
486,225 24
21,752 11
-
$360,580 42
19,043 81
92,780 47
176,597 52
$9,310,136 11
19,381,105 90
$70,969 79
11,207,476 46
$1,274,572 59
867,096 13
$725,536 63
3,161,941 83
7,081,838 07
3,535,464 59
2,951,804 62
315,277 82
1,427,975 51
289,380 46
1379,272 29
3,116,625 64
7,217,625 11
2,997,684 47
2,600,817 90
777,295 39
1,335,630 81
789,821 31
$346,264 34
45,316 19
$19,489,219 53
319,214,772 92
1274,446 61
$116,784 42
522,493 06
85,643 32
227,968 88
55,838 20
6,248 33
133,497 94
$199,913 07
422,103 71
92,696 82
164,736 35
52,130 69
6,585 39
128,210 46
537,780 12
350,986 72
1138,'787 04
462,017 57
92,344 70
500,440 85
$83,128 65
$100,389 35
27,053 50
63,232 53
3,707 51
337 06
5,287 48
11,128,474 15
11 ,066,376 49
$37,893,478 82
$37,937,294 79
$526,621 41
2,747,887 04
412,366 49
$603,819 25
1,880,756 16
343,300 68
$867,130 88
69,065 81
$62,097 66
$43,815 97
177,197 84
$3,686,874 94
32,827,876 09
1858,998 85
141,580,353 76
2,190,173 02
$40,765,170 88
2.217.817 76
$815,182 88
343,770,526 78
342,982,988 64
$787,538 14
313.417.12944
316.545.108 40
127,644 74
13.127.978 96
Figures for the year ended June 30 1007 are, so far as practicable, on the basis of this year's classification.
TABLE NO. 12.-INCOME FROM INVESTMENTS, &C., YEAR ENDED JUNE 30 1908.
Interest paid on money borrowed less received on money
loaned
Fixed Charges of Subsidiary Lines written off
Balance
Dividends on Stocks Owned$901,102 33 Illinois Central RR. Co
00
503,50000 Chicago St. Louts & New Orleans RR.Co
$1,382
4 00
Dubuque do Sioux City RR. Co
156,993 00
Other stocks
2,000 00 -1160,710 00
Interest on Bonds OwnedI. C. RR. Co. Gold Fours of 1053
$2,840 00
I. C. RR. Co. Gold Litchfield Dlv. 3s of 1951_ _
2,610 00
I. C. RR.Co. Gold Louisville Div.3s of 1953_
73,500 00
I. C. RR. Co. Gold Purchased Lines ”is of 1952_ 03,170 00
I. C. RR. Co. First Lien Equipment Bonds
600,000 00
Y. & M. V. RR.Co. Gold Improvement 4s of 1934_ 375,059 78
Dubuque et Sioux City RR. Co. Gold 4s of 1951_ _
24,834 10
C. St. L. & N.0. RR. Co. Gold 5s of 1951
265,466 66
C. St. L. de N. 0. RR. Co. Gold Bridge 58 of 1950 150,000 00
Y. & M. V. RR. Co. Gold 5s of 1952
140,000 00
L. N.0. do T. Ry. Co. 48 of 1934
673,280 00,
Cherokee dc Dakota RR.Co. 5s of 1935
155,000 001
Cedar Rapids dc Chicago RR.Co. 5s of 1935
41,500 001
Iowa Falls de Sioux City RR. Co. 7s of 1917
32,235 00'
Mississippi Valley Corporation 48 of 1934
124,816 661
Tennessee Central Prior Lien Bonds
53,520 00'-2,807,832 20
Interest on Securities in Surplus Dividend Fund
48,002 50
Sundry Profits
$241,-5-8-0-47
Less: Sterling Exchange
3,956 54 -242,623 93
Land Office
458 65
Interest on Bonds of Subsidiary Lines
pledged to secure $15,000,000 Illinois Cen. 4s of 1952,316,350,0005s_ _$817,500 00
Less: Interest collected as aboveFrom Y. & M. V. RR. Co.
on its Gold 5s of 1952_ _4140,000
From D. & S. C. RR. Co.
On Cherok. & Dak. RR.
Co. Gold 5s of 1935_ 155,000
,
On Cedar R.& Chic. RR.
Co. Gold 5s of 1935_ __ 41,500
336,500 003481,000 00
Interest onSouth Chicago RR.Co. 5s of 1922
10,000 0001
Canton Aberdeen & Nashville
as
RR. Co. note
2,358,524 95
given for Bonds canceled
503.600 00
12,500 0
$3,763,127 28
$3,788,127 28
[VOL. Lxxxvii.
THE CHRONICLE
944
TABLE NO. 1.4.-ADDITIONS AND BETTERMENTS, YEAR ENDED JUNE 30 1908.
$5,915,884 53
Illinois Central RR.-Proper
Illinois Central rm.-Purchased Lines12,146 22
Litchfield Division
19,443 48
.
Chicago and Springfield
•
1,035 72
Chicago Havana & Western
58 30
Cr.
__ ---- _ - - ___
Rantoul
13,812 27
Northern
__Chicago Madison & N
35,089 12
Chicago ec Texas
25,882 43
• -..
•
St. Louis Alton & Terre Haute
3,453 71
..- • -.._- _
Mattoon to Evansville..
2,836 10
Peoria Decatur ec Mattoon
1,641 93
-.•
Mounds & Olive Branch12,143 33
•Christopher 83 Herrin
517 23
Groves & Sand Ridge
.
Illinois Central RR.-Terminals54,434 49
Memphis & State Line RR
Total on I. C. RR. Proper. Purchased Lines and Terminals
South Chicago RR
Blue Island RR
Canton Aberdeen & Nashville RR
Chicago St. Louis Oz. New Orleans RR.
Main Line and Branches
Memphis Division
Louisville Division
Total.
Betterments.
Additions.
By Roads.
56.098,262 26
5482,159 33 $6,398,043 86
12,146 22
31,847 93
1,196 32
58 30
Cr.
34,724 87
20,912 60
64,342 47
29.253 35
42,690 43
16,808 00
3,898 74
445 03
11,067 68
8,231 58
1,641 93
12,143 33
517 23
12,404 45
160 60
54,434 49
$570,374 94 $6,668,637 20
$1,890 75
2,177 76
1,116 10
$4,514 48
1,890 75
3,293 86
41,195 85
24,483 80
230,719 42
113,277 44
62,756 29
188.925 78
154,473 29
67,240 09
419,645 20
$300,467 58
$370.590 09
$671,057 67
54,514 48
•
,
Total on other roads
56,398,729 84
Grand Total
5940,965 03 $7,339,694 87
Distributed as followsRoad$35,538 89
$35,538 89
J.
Right of way
6,429 70
6,429 70
Station grounds
$42,378 68
42.378 68
Widening cuts and fills
Cr. 7,943 79 Cr. 7,943 79
Protection of banks
12,716 27
12,716 27
Grade revisions and changes of line
35,616 30
175,223 34
139,607 04
Bridges, trestles and culverts
22
22
169,233
169,233
rail
of
weight
Increased
-----------------------------------------------------6,576 07
8,576 07
Ballast - _ --- ----- 7
21,758 34
89,668 46
67.910 12
Additional main tracks
143,148 49
1.42,423 44
725 05
Sidings and spur tracks
688 11
688 11
Fencing right of way---- _ --- _ --- _ ----- _
2,624 08
2,624 08
Improvements of over and under -------- crossings68
361,699
11
57
262
361,437
grade
&c
of
crossings,
elimination
Track elevation,
8,115 46
5,072 39
3,043 07
Interlocking apparatus-------..
83
83
4,998
Cr.
Cr.
4,998
apparatus
signal
other
and
Block
973 46
973 46
Telegraph and telephone lines
126,750 68
109,172 61
17578 07
------------------------------------Station buildings and fixtures
77
57,577
39
22,052
35,525
38
____________________
__________________________
turntables
and
engine-houses
Shops,
34,527 87
34,204 13
323 74
Shop machinery and tools---------------------------------------------------------------------64.469 67
----- _ ---------------------28,828 77
35,640 90
Water and tuel stations------- __ ----------------------------------___________________________
436 05
6,468 62
6,032 57
Grain elevators, and storage warehouses
559 38
2,405 22
1,845 84
Dock and wharf property
71,736 87
75,572 91
3,836 04
Miscellaneous structures
84
84
4,223
4,223
Road tools
15 75
15 75
Other expenditures
82
128,774
82
128,774
New lines
$601.803 41 $940,965 03 $1,542,858 44
Total-Road
OnesNew Equipment Purchased in Addition to New Locomotive and Cars Bought or Built to Replace Old
5154,105 62
8 Pacific Type Passenger Locomotives
46 Locomotives
607,110 34
35 Consolidation Freight Locomotives
37,419 54
3 6-Wheel Switching Locomotives
38,022 24
2 Dining Cars
2 Passenger Cars
1,1'71,792 04
997 50-ton Drop-Bottomc Gondola &al Uars
4,002 Freight Cars
6,750 00
5 40-ton Tank Cars
3,665,304 09
3,000 50-ton Box Cars__ _ _ .. _____
Fittings and freight charges on 300 50-ion ____ cars placed in service in
43,103 91
previous year
12,250 00
*2 75-ton Steam Wrecking Derricks
10 Work cars
15,000 00
1 100-ton Steam Wrecking Derrick
3,500 00
1 Jordan Spreader
11,148 93
2 Browning Ditchers _
16,104 72
3 Lidgerwood Ballast Unload-ers
al Combination Pile Driver and Derrick
15,225 00
2 Track Barges
Floating Equipment
$154,105 62
607,110 34
37,419 54
38,022 24
1,171,702 04
6,750 00
3,665,304 09
43,103 91
12,250 00
15,000 00
3,500 00
11,148 93
16,104 72
15,225 00
Total-Equipment
55,796,836 43
$5,796,836 43
Grand Total-Charged to Capital
$6,398,729 84
5940,965 03 57,339,694 87
•Two 75-ton Steam Wrecking Derricks, shown under construction In last year's report, completed for additional amount of $12,250.
a One Combination Pile Driver and Derrick, shown under construction in last year's report, completed for amount stated therein, viz., $4.236 93.;
TABLE NO. 18.-MAINTENANCE OF WAY AND STRUCTURES, JULY 1 1898 TO JUNE 30 1908.
MAINTENANCE OF WAY.
Average
Miles
Years
of
ended
June 30th. Road
Operated.
Labor
on
Track.
Tons 01
New
Rails.
Amount
Charged
to
Renewals
of Rails.
Amount
Charged
to
Renewals.
ol Ties.
No.
of
Ties.
Repairs
of
Bridges.
Other
Items.
Total.
Expense
Mileage per mile Repairs
of
run by
of
Engines. Engines. Fences.
3,670.80$1,778,982 20,21,182.00$185,026 901.344,2585438,833 145637,412 81$ 769,192 9653,809,448 0129,514,549 12.91e.
3,845.43, 2,213,422 1834,013.76 373,674 761,617,759, 539,620 50, 858,391 511,031,705 71 5.016.874 6633,711,198 14.88c.
4,214.9Z 2,259.774 7430,009.38 476,293 391,987,356; 652,787 10 795,006 86 083,411 89 5.167,2739837.170,284 13.90c.
4,276.23 2,485,079 7725,916.00 274,030 641,832,429 588,697 29 657,328 87 919,431 53 4,924,568 1035,293,290 13.95c.
4,292.98, 2,452.529 9931,657.00 416,538 751,086,6931 385,405 1,4 624,522 28 1,258,962 31 5,137,958 4738,001,938 13.52c.
4,340.3V 2,320,589 4824,037.00, 300,659 831,563,898, 674,271 75 546,655 141,131,076 04 4,973.252 2439,254,261 12.67c.
4,373.91 2,141,306 41132,354.00 457,143 711,914.8011 786,626 30 708,588 871,279,233 66' 5,372,898 9537,313,307 14.40c.
4,423.87 2,487,704 77125,754.00 392,847 421,635,899, 743,861 60 758,900 761.610,007 57i 5,993,322 1237,888,182 15.82e.
4,420.461
4,370.77 2 657,923 6521,006.00 249,975 21 997,349 427,572 24' 877,978 23 L486,239 071 5,699,788 4039,644,009 11.38e.
2,286,937 03130,411.001 298.595 181,748.7391 660.739 531 713,563 691*1373.128 901*5.332,964 3337,478.302*14.23c.
1
1
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
Repairs
e,
Buildings
Water
Works
and
Telegraph.
Mainrename of
Way and
Structyres per
Mile
Operated.
553,576 655420,472 2651,166 91
86,582 60 465,239 53 1,448 13
83,706 57 609,836 97 1,390 49
73,103 77 651,971 32 1,321 17
78,164 15 693,073 13 1,376 48
71,904 99, 634,153 63 1,308 49
76,052 011 646,145 22 1,393.51
84,321 79 777,529 17 1,549 59
84 180 701067 480 67 1,567 56
49,107 10!1235721 79*1,497 08
• Excludes repairs and renewals of work equipment.
TABLE NO. 19.-MAINTENANCE OF EQUIPMENT, JULY 1 1898 TO JUNE 30 1908.
Maintenance°,Equipmen
REPAIRS AND RENEWALS.
Engines.
Passenger Cars.
Years ended
"..1 June 301/1.
No.
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
Amount.
76351,318,88968
813, 1,405,914 9
8911 1,567,527 7
9471 1.866,191 1
1003 2,206,127 5
1086 2,668,919 44
1158 2,560.422 3
1193 2,318,908 9
12401 2,630,853 6
1286 3.117.078 87
No.
Amount.
Freight Cars.
No.
Other
Equipment
Expenses,
Including
Superintendence.
•
Maintenance
Marine
EquipMeng.
Total.
Per Mile o
Road
Operated
(excluding
Marine
Equipment)
$866 35
653 3262,327 743023851,338,471 17447-100e 73-100c 42-100e $102,951 945157,561 53315,734 5053,195,936 56
953 68
279,859 4533410, 1,690,936 95417-100e 72•100c 46-100c 121,256 92 169,322 66, 7,891 29 3,675,182 20
696
1,133 07
357,520 5738966, 2,083,544 29392-100c 69-100c 50-100c 143,755 761 201,961 05' 16,932 44 4,371,241 81
72
534,790 8242888 2,482,034 69529-100c 1 2-100c 61-100c 171,108 12 237,348 85 18,312 90 5,309,786 53 1,237 42
72
1,455 73
566,182 77,5251 2,875,200 90581-100c1 3-100c 64-100c 256,454 84 345,472 46 25,148 11 6,274,586 60
75
1,67587
541,821 295502 3,352,275 22680-100c 96-100c 73-100c 292,608 98 418,216 98 49,501 22 7,323,343 13
78
1.71886
610,583 96565291 3,874 257 45686-100c 1 1-101 85-100c 275,54695459,751 78 24,247 69 7,804,810 21
80
1,740 19
665,682 1158253 3,924,296 95,612-100c 112-100 82-100c 319,598 02, 469,873 75 6,668 35 7,705,028 16
81
685,583 4759977! 5,460,190 64664-100c 1 5-100c 111-100c 350,097 341 480,858 111 8,423 65 9,596.006 84, 2,19357
85
687.335 5863989*5,125.041 671832-100c 110-100c *1 05-100 257.316 871 236.275 01 27.467 46*9,450,515 46' *2,131 64
861
1
1
1
1
• Includes repairs and renewals of work equipment.
Amount.
Mainlenance
Per I Per
Shop
Per Pass'nger Freight
Machinery
Car
Car
Engine
and
Mile.
little.
Mile.
Tools.
•
THE CHRONICLE
OCT. 10 1906.j
945
TABLE NO. 15.-GENERAL OPERATING RESULTS.
•
Year ended June 30
1908.
Average Miles of Road Operated
1907.
Increase (-I-) or
Increase.(-)
Per
Cent.
4,420.46
4,370.77
+49.69
+1.14
$57,187,656 22
41,580,353 76
15,607,302 46
72.71
$12,937 04
9,40634
3,53070
1 98
1 44
54
$59,528,097 04
40,765,170 88
18,762,926 16
68.48
313,619 59
9,326 77
4,292 82
1 97
1 35
62
-$2,340,440 82
+$815,182 88
-3,155,623 70
+4.23
-$682 55
+$79 57.
-762 12
+0 01
+0 09
-08
- 3.93
+2.00
-16.82
+6.18
-5.01
+.85
-17.75
+.51
+6.67
-12.90
16,965,496
11,724,170
203,689
19,034
28,912,389
*491,569
372,014
32
762
29,776,766
7,115,414
36,892,180
586.122
2.99
17,846,876
12,077,885
283,303
--881,380
--353,715
--79,614
A-19,034
--1,295,675
--180,087
--12,250
4-32
4-762
--1,487,218
--554,879
--2,042,097
--123.610
--0.51
--4.94
--2.93
--28.10
--30,540,743
4-24,720,601
--642,175
--6,462,317
---0.69
4-1.82
--8.66
A-20.40
--3.54
--1.31
--3.55
A-27.25
4-4.24
--7.45
4-22.01
--2.17
--.74
+2.76
1
2
.3
4
.5
6
7
8
9
110
Income and Expenses.Income
Expenses ,exclusive of Taxes
Excess of Income over Expenses, exclusive of Taxes
Per cent of Expenses to Income
Income per Mlle of Road
Expenses per Mlle of Road
Excess of Income over Expenses per Mile of Road
Incomp per Revenue Train Mlle
Expenses per Revenue Train Mlle
Excess of Income over Expenses per Revenue Train Mlle
11
12
13
1.4
15
16
17
18
19
20
21
22
23
24
Train and Locomotive Mileage.Revenue Freight Train Mlles
Revenue Passenger Train Miles
Revenue Mixed Train Mlles
Revenue Special Train Miles
Total Revenue Service Train Mlles
Helping and Light Freight Locomotive Mlles
Helping and Light Passenger Locomotive Miles
Helping and Light Mixed Locomotive Mlles
Helping and Light Special Locomotive Miles
Total Revenue Service Locomotive Mile, excluding Switching
Switching Locomotive Miles
Total Revenue Service Locomotive Miles _
Non-revenue Service Locomotive Mlles
Per cent of Helping and Light Mileage to Revenue Train Mileage
215
26
27
28
20
'30
.31
52
.33
54
:35
.36
:37
.38
Car Mileage.Freight Car Miles-Loaded Freight Car Miles-Empty
Freight Car Miles-Caboose
Total Freight Car Miles
Average Number of Loaded Freight Cars per Train Mlle
Average Number of Empty Freight Cars ner Train Mlle _
Average Number of all Freight Cars per Train Mile
Per cent of Loaded Car Mileage to Total Car Mileage
Per cent of Empty Car Mileage to total Car Mileage
Per cent of Caboose Car Mileage to Total Car Mileage
Passenger Car Mlles
Average Number of Passenger Cars per Train Mile
Special Revenue Service Car Mlles
Non-revenue Service Car Mlles
322,235,987
145,909,117
17,488,004
485,633,108
18.77
8.50
28.29
66.35
30.05
3.60
62,305,591
5.22
322,395
4,722,256
352,776,730
121,188,516
18,130,179
492,095,425
19.46
6.68
27.14
71.69
24.63
3.68
62,770,118
5.08
4,750,173
--5.34
4-5.42
--0.08
--464,527
4-0.14
4-322,395
--27,917
.39
40
41
42
43
44
Miscellaneous.Average cost of maint. of way and structures per mile of first and other main tracks
Average cost of repairs and renewals per locomotive per annum
Average cost of repairs and renewals per passenger train car per annum
Average cost of repairs and renewals per freight train car per annum
Transportation expenses per revenue train mile
Transportation expenses per locomotive mile In revenue service
$1,303 94
2,423 85
798 30
80 09
67.41 cents
52.83 cents
$1,366 82
2,121 65
774 83
91 04
63.61 cents
49.35 cents
-$62 88
+302 20
+23 47
-10 95
+3.80 cents
+3.48 cents
30,208,064
671,656
384,264
31,263,984
7,670,293
38,934,277
709,732
2.50
+1.15
-4.29
-26.81
-3.19
--4.76
--7.23
--5.24
--17.42
--14.57
-.59
-4.60
-14.24
+3.03
-12.03
+5.97
+7.05
*Excludes mileage of locomotives with cabooses only, which is included In revenue freight train miles.
TABLE NO. 16.-REVIEW OF TRAFFIC.
Year ended June 30.
1908.
Average miles of road operated
1907.
Increase (+) or
Decrease (-)
Per
Cent.
4,420.46
4,370.77
+49.69
+1.14
1
2
3
4
5
11
7
8
9
10
11
Passenger Traffic.Number of revenue passengers carried
Number of revenue passengers carried one mile
Number of passengers carried one mile per mile of road
Average distance carried
Revenue from passengers
Average amount received per passenger
Average receipts per passenger per mile
Passenger service train revenue
Passenger service train revenue per mile of road
Passenger service train revenue per train mile
Average number of passengers per train mile
23,357,184
591,860,642
133,891
25.34 miles
$10,991,798 35
$0.47
1.857 cents
313,534,933 59
33,061 88
$1 13
50
•
23,441,337
569,931,666
130,396
24.31 miles
311,187,532 59
$0.48
1.963 cents
*13,622,657 74
33,116 76
3110
46
-84,153
+21,928,976
+3,495
1.03 miles
-$195,734 24
-0.01
-.106 cents
-387,724 15
--$54 88
+$0.03
+4
-.36
+3.85
+2.68
+4.24
-1.75
-2.08
-5.40
-.64
-1.76
-2.73
+8.70
12
13
14
15
16
17
18
19
20
21
22
23
24
251
26j
27
Freight Traffic.(Way-bill Tonnage)
Tons of revenue freight carried
25,047,062
Tons of company freight carried
5,134,709
Total tons carried
30,181,771
Tons of revenue freight carried one mile
6,038,541,933
Tons of company freight carried one mile
1,157,509,683
Total tons carried one mile
7,196,051,616
Tons carried one mile per mile of road-all freight
1,627,897
Average distance carried-revenue freight
241.09 miles
Receipts from revenue freight
335.357,810 92
Average amount received per ton
31 41
Average revenue per ton per mile
.586 cents
Freight revenue per mile of road
37,998 67
Freight revenue per revenue train mile
32 06
Tons of revenue freight carried per revenue train mile
351 71
Tons of all freight carried per revenue train mile
419 13
Tons of all freight carried per revenue service locomotive mile, excluding switch.
Ing mileage
407 46
Average tons of all freight carried per loaded car mile
22.33
26,922,868
5,063,946
31,986,814
6,592,022,619
1,062,706,144
7,654,728,763
1,751,345
244.85 miles
338,033,270 78
$141
.577 cents
38,701 73
32 10
363 59
422 21
--1,875,806
+70,763
-1,805,043
-553,480,686
+94,803,539
--458,677,147
-123,448
--3.76 miles
-$2,675,459 86
--6.97
+1.40
-5.64
-8.40
+8.92
-5.99
-7.05
--1.54
-7.03
+.009 cents
-3703 06
-3004
--11.88
-3 08
+1.56
-8.08
-1.90
--3.27
-.73
407 13
21.70
+0.33
+0.63
+.08
+2.90
28
THE YAZOO & MISSISSIPPI VALLEY RAILROAD COMPANY.
TWENTY-SEVENTH ANNUAL REPORT-FOR THE YEAR ENDED JUNE 30 1908.
To the Board of Directors:
I submit herewith a report of the operations and affairs of the company for the fiscal year ended June 30 1908:
The number of miles of railroad operated by the Yazoo & Mississippi Valley Railroad Company on June 30 1907 was
1.239.14
There was added during the year:
Miles.
12.80
On July 1 1907 the Helm & Northwestern Railroad, extending from Helm to Jacobs, Miss
11.70
On August 5 1907 the Sunflower & Eastern Railroad, extending from Webb to Parchman, Miss
26.03
On May 1 1908 the Philipp-Charleston Line, extending from Philipp to Charleston, Miss
On December 15 1907 the Sliver City-Kelso Line, extending from Holly Bluff to Kelso. Miss
15.06
On February 26 1008 the Baton Rouge Hammond do Eastern RR., extending from Baton Rouge. La., to Covington La
64.96
On February 26 1908 trackage rights over the New Orleans & Great Northern RR.,extending from the junction with the Baton Rouge
district at Covington, La.. to depot at that place
.97 131.52
Making the mileage of railroad in operation on June 30 1908
1,370.66
The average number of miles of railroad operated by this company during the year ended June 30 1908 was 1,297.65,
as against 1,239.14 in the preceding year, an increase of 58.51.
Owing to the radical change in the classification of revenues and expenses, as prescribed by the Inter-State Commerce
Commission, which became effective July 1 1907, it is impracticable to make an actual comparison in all items with the
previous year. The figures submitted for the latter are, however, approximately on the basis of those for this year. The
net result is not affected.
THE CHRONICLE
946
Lxxxvii.
INCOME FOR THE YEAR.
The following is a statement of the company's income for the year, compared with previous year:
$9,493,400 03
87,233 98
9,580,634 01
7,844,965 29
1,735,668 72
413,186 20
1,322,482 52
Increase (+)
Decrease (-).
1907.
----+58.51
1,239.14
----$9,649,710 99 +5405,543 08
7,829,771 60 +786,523 32
--59,261,985 46 +5231,41457
+24,298 29
62,935 69
9,324,921 15 +255,712 86
7,444,083 04 +400,882 25
1,880,838 11 -145,169 39
+19,931 12
393,255 08
1,487,583 03 -165,10051
4'74,620 96
1,750 00
476,370 96
1,798,853 48
771,329 63
1,346,033 11
2,117,362 74
*318,50926
324,789 84 +149,83112
1,750 00
326,539 84 +149,831 12
1,814,122 87 -15,26931)
385,688 56 +385,641 07
1,357,227 42 -11,194 31
1,742,015 98 +374,446 76
71,20689 -389.71615
1908.
-----Average miles operated during the year
Total operating income ____________________
Gross expenses ______________________
1 Revenue from transportation - _ -- __ --- _
2 Revenue from operations other than transportation
3 Total operating revenues-----------______________
4 Operating expenses
5 Net operating revenues
; 8 Taxes_______________
.
7 Operating Income
Income other than from operations______
8 Incident to operation
9 Interest from investments _______
_________________
Total
10
11 Total Income
12 Expenses other than operating expenses
_
13 Fixed charges ___ _
14 Total deductions from Income
15 Surplus for year carried to profit and loss
1,297.65
$10,055,254 97
8,616,294 92
..
__________
-
________
_____________
____________
* Deficit.
The gross revenue during the year was $10,055,25497, an increase of $405,543 98, or 4.2%, over the previous year'
The net revenue, after deducting expenses and taxes, was $400,910 46 less than the previous year.
The decrease in net revenue was principally due to the increase in cost of material and supplies, especially coal, caused
by the necessity of paying connecting lines' tariff rates thereon, increase in per diem paid for use of other companies' freight
cars, and increase in wages paid.
The surplus is stated without the payment of any interest on either the Second Mortgage bonds or the Land Grant Income bonds of the Louisville New Orleans & Texas Railway Company, of which $9,104,000 and $10,000,000 are respectively
outstanding.
The mortgage given in 1886 to secure the Second Mortgage bonds provides that interest is only to be paid on them when
it shall be earned, and so determined and declared by the board of directors, but that such interest shall be cumulative,
and in case less than two and one-half per centum be paid in any half-year, the unpaid interest, with interest on such unpaid interest at the rate of five per centum per annum, shall be carried forward to the credit of the bonds for subsequent
payment as such net earnings shall suffice for, or at the maturity of the bonds.
The Louisville New Orleans & Texas Railway Company permitted the interest on these bonds to accumulate
until the autumn of 1892, when that company was merged into The Yazoo & Mississippi Valley Railroad Company. Since
then, in each of the fiscal years ended June 30 1893, 1894, 1895, 1896, 1897, 1898, 1901, 1902 and 1903, payments ranging
from $198,451 to $1,016,078 91 have been made on account of interest due thereon. The arrears of interest due and unpaid
upon these bonds amounted on June 30 1908 to $8,194,782 51.
No interest has ever been paid on any part of the $10,000,000 of Land Grant Income bonds of the Louisville New Orleans
& Texas Railway Company.
RAILROAD AND EQUIPMENT.
The cost of railroad and equipment at the close of the previous year was $60,657,160 66; on June 30 1908 it was $56,029,.
054 28; the decrease of $4,628,106 38 was brought about as follows: .
The stockholders at their meeting on January 9 1908 agreed to sell to the Illinois Central Railroad Company the following described property:
AT NEW ORLEANS, LA.
The passenger station and property In connection therewith, purchased from the Illinois Central Railroad Company on June 21 1893, con$590,000 00
sideration
Other property, adjacent to the above and the approaches thereto, purchased by this company subsequent to June 211893; also a lot at the
3,778,877 43
corner of Toledana and Tchoupatoulas streets, and In addition the Stuyvesant docks property, consideration
553,398 10
The right of way from the protection levee to the Southport yards; also the Harahan yard property, consideration
AT MEMPHIS, TENN.
The ground on which the Shelby Street freight house stands, extending on the east side of Shelby Street, from Calhoun to Georgia streets, 200,000 00
_______________
consideration
______________________________________________________________ _______________________ *5,122,275 53
The total consideration, amounting to
represents the cost of the property to this company, and the cost of railroad and equipment was decreased a like amount
on this account.
Gold Improvement bonds were originally issued in payment for all of these properties, and a like amount of these bonds
was accepted in settlement of this sale.
There was also deducted $541,432 56, refunded by the Memphis & State Line Railroad Company, being the cost of hnprovements made by this company in Nonconnah yard, and heretofore charged ;to permanent improvements.
The cost of additions and betterments for the year was $1,035,601 71; this was added to cost of railroad and equipment.
FUNDED DEBT.
Bonds outstanding July 1 1907
Deduct: Gold Improvement bonds received in payment for properties at New Orleans, La., and Memphis, Tenn., and canceled
Add: Gold Improvement bonds issued in payment for:
Additions and betterments for year
Less: Expenditures at Nonconnah yard
$53,363,853 56
5,122,275 53
-$48,241,578 03
$1,035,601 71
541,432 56
404,160 15
548,735,747 18
Bonds outstanding June 30 1908
INSURANCE FUND.
After the payment of all losses by fire, the fund was augmented during the year by $19,112 21 to $132,028 85.
ADVANCES TO OTHER RAILROADS.
MEMPHIS & STATE LINE RAILROAD COMPANY.
The Yazoo & Mississippi Valley Railroad Company was reimbursed during the year for the 3252,564 94 advanced to the
end of the previous year.
BATON ROUGE HAMMOND & EASTERN RAILROAD COMPANY.
During the year there was advanced by the Yazoo & Mississippi Valley Railroad Company $1,331,275 91, being thE
entire cost of construction to June 30 1908.
STANDARDS OF MAINTENANCE.
tons of
The policy of improving standards of maintenance has been continued. During the year there were laid 6,358 against
new rail and 4,461 tons of re-rolled and relieved rail, making total of 10,819 tons of rail placed in main track, as
9,734 tons for the previous year.
The average weight of rail in main track at the close of the year is 67.77 pounds per yard, as against 66.51 pounds per
yard at the end of the previous year.
year.
The average age of rail in main track at the close of the year is 13.79 years, against 13.96 years for the previous
At the close of the year 65 per cent of the total mileage has been ballasted, as compared with 61 per cent at the end of
the preceding year.
The cost of maintenance of way and structures per mile of road operated this year was $1,476 75, as compared with
$1,792 81 for the previous year.
The cost of maintenance of equipment Per mile of road operated this year was $1,175 69, as compared with $1,085 69
for the previous year.
The tables following show in greater detail the results of operation for the year.
Respectfully submitted,
J. T. HARAHAN,
President.
Chicago, September 16 1908
THE CHRONICLE
00T. 10 1908.)
94.7
TABLE NO. 1.-ASSETS AND LIABILITIES-JUNE 30 1908 AND 1907.
2
June 30 1907.
June 30 1908.
Assets.
Table.
Capital Assets.Railroad and equipment __
_
$56,029,054 28
$60,657,160 66
$56,029,054 28
$60,657,160 66
$8,958 00
214,288 71
5,664 67
704,71733
$8,958 00
216,797 17
4,004 05
563,508 63
$933,628 71
$793.267 85
$120,000 00
$252,564 94
120,000 00
Table.
3
Current Assets.Bills receivable
Due from agents
Individuals and companies
Material and supplies
Deferred Assets.Advances account other railroads:
Memphis & State Line RR.,__
Etters to Mississippi State Line_
Memphis RR.Terminal Co
Baton Rouge Hammond de East.
ern RR
Assets.Assets In Insurance Fund
Assets in Pension Fund
Land Contracts
June 30 1908.
$6,168,40000
53,363,853 56
$54,904,147 18
$59,532,253 56
$438,509 26
12,099 80
1,790,584 29
408,150 00
5,586 95
$120,000 00
10,998 97
586,957 90
431,481 64
5,061 03
$2,654.930 30
$1,154,499 54
Deferred Liabilities.In t. accrued on bonds to June 30.
1,331,275 91
$1,451,275 91
$372,564 94
$132,028 85
50,000 00
230,136 96
$112,916 64
50,000 00
358,354 30
4
$412,165 81
$521,270 94
$58,826,124 71
$62,344,264 39
5
Contingent Liabilities.Insurance Fund
Pension Fund
Replacement of Equipment Fund
Principal of deferred payments on
land contracts
Bal. to credit of Profit and Loss__
Total Liabilities
June 30 1907.
$6,168,40000
48,735,747 18
Current Liabilities.Loans and bills payable
Traffic balances
Individuals and companies
Vouchers and pay rolls
Miscellaneous
COnlingent
Total Assets _ _
Liabilities.
Capital Liabilities.Capital Stock
Funded Debt
$236,093 34
$236,093 34
$236,093 34
$236,093 34
$132,028 85
50,000 00
355,933 42
$112,916 64
50,000 00
240.660 10
230,136 96
358,354 30
$768,099 23
$761,931 04
$262,854 66
$659,486 91
$58,826,124 71
$82,344,264 39
TABLE NO. 2.-RAILROAD AND EQUIPMENT.
Year ended
Year ended
Increase (+)
June 30 1908. June 30 1907. Decrease (-).
Cost of Railroad and Equipment July 1
Amount expended during the year, as shown in Table No. I
$60,657,160 86 $59,627,992 46 +31,029,168 20
1,035,601 71
1,029,168 20
+6,433 51
361,692,762 37 $60,657,160 66 +31,035,601 71
Less:
Properties at New Orleans, La., and Memphis, Tenn., sold to the Illinois Central RR. Co
5,663,708 09
Total
-$5,663,708 09
356,029,054 28 $60,657,160 66 -34,628,106 38
TABLE NO. 5. -PROFIT AND LOSS, YEAR ENDED JUNE 30 1908.
Adjustment in accounts_ .
Suspended claim account
Balance from Table No. 6
Balance June 30 1908
$41,282 63 Balance brought forward
36,840 36
318,509 26
262,854 66
3659,486 91
$659,486 911
$659,486 91
TABLE NO. 6.-INCOME ACCOUNT, YEAR ENDED JUNE 30 1908.
Operating expenses (Table No. 7)
Taxes
Expenses other than operating expenses
Total expenses and taxes
Fixed chargesInterest On First Mortgage BondsY. do M. V., $2,800,000 05%
L. N.O. & T $16,832,00004%
Interest on Gold Improvement Bonds
$7,844,965 29 Operating revenue (Table No. 7)
413,18620 Income incident to operations (Table No. 7)
771,320 63
Total
$9,029,481 12 Interest on securities in pension fund
$140,000 00
673,280 00
532,753 11
1,346,033 11 Balance to Profit and Loss
$9,580,634 01
474,620 96
510,055,254 97
1,750 00
318,509 26
-----$10,375,514 23
$10,375,514 23
TABLE NO. 7.-OPERATING INCOME AND EXPENSES.
Year ended
Year ended
June 30 1908. June 30 1907. Increase.
Revenue from Transportation:
Freight
Passenger
Mall
Express
Other passenger train revenue
Switching_
Miscellaneous
_______
$7,029,207 68 $6,801,204 77 $138,002 91
2.040,040 48 1,964,573 29 75,467 19
131,731 45
130,495 21
1,23624
180,712 20
181,252 36
32,022 94
29,769 47
2,253 47
30,333 60 (bal.)44,140 04
49,351 68
20,550 32 28,801 38
Total_
Other operating revenues
$9,580,634 01 $9,324,921 15 $255,71288
•
Rent of tracks and property
Hire of equipment
Sundry other items
------------------------------------------
Total_
Operating expenses:
Maintenance of way and structures:
Supervision
Roadway and track
Signals and interlocking plants
Structures
Work equipment
All other expenses
Total
Maintenance of equipment:
Supervision
Locomotives
Passenger train cars
Freight train cars
Floating equipment
Shop machinery and tools
All other expenses
Total_
Traffic expenses
$540 16
13,806 44
$9,493,40003 $9,261,985 46 $231,414 67
87,233 98
62,935 .69 24,298 29
Total operating revenues
Income incident to operations:
Grand total
Decrease.
Income.
$59,693 03
134,297 88
280,630 05
$474,620 96
--
--
$125,963 77
166,270 74
139,550 86
5,252 98
59,275 21 $221,354 84
$324,789 84 $149,831 12
110,055,254 97 39.649,710 99 3405.54398
Expenses.
$98,476 60
1,292,209 53
14,491 22
480,013 25
29,468 99
31,110 76
$84.012 87 $14,463 82
1,433,82097
3141.411-44
11,757 97
2,733 25
547,838 38
67,825 13
33,107 04
3,638 05
153,75289
122,642 13
$1,945,770 44 $2,264,090 12
$35,57703
479,71743
88,25894
773,924 73
3,78597
24,039 78
94,64606
$25.638 43
380,079 76
76,324 07
764,80942
8,00526
31,764 47
84,64280
$318,319 68
$9,938 60
99,637,67
11,934,87
9,115 31
$4,219 29
7,724 69
10,003 26
$1,499.94904 $1,371,264 21 $128,685 73
--------$196,250 241
$208,22286
$11,972 62
EVot. Lxxxvii.
THE CHRONICLE
948
Year ended
Year ended
June 30 1908. June 30 1907. Increase. I Decrease.
----$201.806 57
--$3,641.970 62 *3,843,577 19
Brought forward
Transportation expenses:
Supervision
Passenger train expenses
Freight train expenses
Station expenses
Yard switching expenses
Telegraph and signals
Claims and damages
All other expenses
$70,997 63
50,809 63
208,543 08
187,629 84
153,429 06
$153,916 05
516,230 41
1,388,850 05
699,927 46
514,341 89
27,553 27
519,036 92
148,458 29
$82,918 42
465,420 78
1,180,306 97
512,297 62
360,912 83
124,474 92
465,105 32
176,238 94
$23,406 92
94,801 24
11,49699
78,751 67
3,889 90
327 47
22,006 14
$51,185 35
80,277 90
19,595 69
54,430 29
3,570 24
370 59
23,399 99
$234,680 33
$232,830 05
53,93160
$66,-6-2165
til,Viif65
-$3,968,314 34 $3,367,675 80 $600,638 54
Total
rleneral expenses:
Salaries and expenses of general officers
Salaries and expenses of clerks and attendants
General office supplies and expenses
Law expenses
Pensions
Pension department expenses
All other expenses
Total
34
24,321 5
$27,778 43
8.098 io
319 66
43 12
1,39385
$1,850 28
$7,844,965 29 $7,444,083 04 $400,882 25
Total operating expenses
Expenses other than operating expenses:
Rent of tracks and other property
Hire of equipment
Sundry other Items
Total.
$19,650 68
512,766 44
238,912 51
$255 91
370,654 79
14,777 86 224,134 65
$771,329 63
$385,688 56 $385,641 07
t21?1 g1:
$8,616.294 92 $7.829.771 60 $786.628 32
393.26508 19,931 12
413,186 20
Gross expenses (excluding taxes)
Taxes
Total expenses and taxes',
$9,029,481 12 $8.223,026 68 $806,46444
Excess of income over expenses and taxes
$1,025.773 85 $1,426,684 31
*400.910 46
Figures for the year ending June 30 1907 are, so Tar as practicable, on the basis of this year's classification.
TABLE NO. 8.-ADDITIONS AND BETTERMENTS, YEAR ENDED JUNE 30 1908.
Total.
Betterments.
Additions.
Right of way
Station grounds
Widening cuts and fills
,
Protection of banks
Bridges, trestles and culverts __________________
Increased weight of rail _____ _ ___________
Sidings and spur tracks ________________________________________________________________________
Fencing right of way
Track elevation, elimination of grade crossings, ecc __________________________________________________
_ _ ________________________________________________________________
Station buildings and fixtures
___________________________________________________________
Shops, engine houses and turntables
Shop machinery and tools
Water and fuel stations
Grain elevators and storage warehouses
Dock and wharf property
Miscellaneous structures
New Lines:
Yarbrough to Swan Lake ___________________________________________________________ Cr. $9,628 15
300 00
___ __ __ ________________________________________________ Cr.
Yazoo City to Beizona
_____________________________________ 22,845 62
Lake View to Tennessee ______ -Line
Philipp to Charleston __________________________________________________________________ 252,411 67
______________________________________________________________ 266,139 57
Silver City to Kelso
$1,031 53
21,342 20
20,338 99
$20,338 99
1,289132
1,289 32 ,
58,327 70
58,327 70
58,350 97
58,350 97
109,800 02
765 10
414 31
24,948178
8,304 84
87,345 57
86,473 81
3,972 86
3,049 86
5,799 84
11,601 88
11,601 88
7,708 03
7,708 03
84,58046
2,216 67
7,280 54
1,343 78
$1,031 53
21,342 20
109,034 92
414 31
16,643 94
871 76
923 00
5,799 84
,
82,363 79
5,936 76
531,468 71
531,468 71
$775,830 76
$259,770 95 $1,035,601 71
TABLE NO. 11. -REVIEW OF TRAFFIC.
Year Ended
Year Ended
June 30 1908. June 30 1907.
••••••11,
Per
Decrease. Cent.
58.51
4.72
180,082
2,561,830
1 2,741,912
'
2,940,203
70,557,365
82,497,568
64,204
63,575
31.05 miles
30.09 miles
1975,46
$2,040,040 48 $1,964,573 29
$0.77
$0.74
2.47 cents
2.47 cents
$2,384,507 07 $2,306,090 33 $78,416 74
$1,861 04
$1,837 56
$1 09
$0.01
$1 10
38
38
7.03
3.70
.98
629
0.96 miles 3.00
3.84
$0.03 3.90
1,297.65
Average miles of road operated
Increase.
1,239.14
1
2
3
4
5
6
7
8
9
10
11
Passenger Traffic.
Number of revenue passengers carried
Number of revenue passengers carried one mile
Number of passengers carried one mile per mile of road
Average distance carried
Revenue from passengers
Average amount received from each passenger
Average receipts per passenger per mile
Passenger service train revenue
Passenger service train revenue per mile of road
Passenger service train revenue per train mile
Average number of passengers per train
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
Freight Traffic.
(Way-bill Tonnage.)
3.69
4,983,051
5,166,820
183,760
Tons of revenue freight carried
22,064 3.38
653,199
631,135
Tons of company freight carried
2.87
5,636,250
5,797,955
-1-6-17765
Total tons carried
2.11
938,017,625 918,668,142 19,349,483
Tons of revenue freight carried one mile
7.55
67/65
18
116,705,702
8,
107,889,996
Tons of company freight carried one mile
1.02
1,045,907,621 1,035,373,844 10,533,777
Total tons carried one mile
20,557 3.54
835,558
806,001
Tons carried one mile per mile of road-all freight
1.52
miles
2.81
miles
184.36
miles
181.55
Average distance carried-revenue freight
2.00
$7,029,207 68 $6,891,204 77 $138,002 oi
Receipts from revenue freight
$0.02 1.45
$1 38
$1 36
Average amount received from each ton
-.001 cents .13
.750 cents
.749 cents
Average revenue per ton per mile
$144 41 2.60
$5,561 28
$5,416 87
Freight revenue per mile of road
$0.02 .80
$2 38
$2 36
Freight revenue per revenue train mile
3.31 1.04
317.62
314.31
Tons of revenue freight carried per revenue train mile
7.50 2.10
357.97
350.47
mile
per
train
revenue
carried
freight
Tons of all
7.69 2.18
352.42
344.73
Tons of all freight carried per revenue service locomotive mile, excluding switching mileage
5.05
1.02
20.21
21.23
Average tons of all freight carried per loaded car
3.40
$23 48 1.26
.92
TABLE NO. 13.-MAINTENANCE OF WAY AND STRUCTURES, JULY 1 1898 TO JUNE 30 1908.
MAINTENANCE OF WAY.
Years
ended
June 30.
1899
1900
1901
1902
1903
1904
1905
1906
1997
1908
Average
Miles
of
'Labor on
Road
Track.
Operated.
Tons of
New
Rails.
954.80 $343,792 69
1,000.68 357,349 79
1,056.51 429.670 17
1,095.32 552,119 41
1,162.34 726,936 56
1,173.11 612,562 89
1,204.00 640,749 52
1,211.20 787,797 72
1,239.14 854,168 61
1,297.65 685,005 50
1,625.70 $22,865 62
256.50 9.123 60
104.85 Cr.831 04
212.00 21,026 60
2,320.00 78,027 12
5,381.00 140,918 78
4,946.00 133,846 39
9,482.00 206.648 69
0.641.00 128,442 86
6,358.00 87.003 93
Amount
Charged
to
Renewals
of Rails.
*ExclUdes repairs and renewals of work equipment.
117710747ii
No. of
Ties.
Charged
to
Renewals
of Ties.
Repairs
of
Bridges.
Other
Items.
Total.
381,300 $116.555 58 $180,927 83 $132,508 82 $796,650 54
426,363 129,138 72 185,627 74 144.455 50
825,695 35
912,146 40
313.776 102,246 41 190,327 30 190,733 56
359,491 117,680 43 184,580 56 171,177 41 1,046,584 41
385,498 134,639 00 166,376 84 337,313 86 1,443,293 38
292,242 116.313 34 155,089 41 281,069 52 1,305,953 94
307,403 115.507 73 158,478 36 397.959 39 1,452,541 39
436,006 168,634 29 207,576 47 642,285 00 2,012,942 17
337,041 142,980 00 240,626 92 608,822 31 1,975,040 70
603,020 249,417 27 218,265 37 *418,583 77 *1,658,275 84
1
MainteRepairs
nance of
of
Way
and
Buildings,
Exp•nse Repairs
Water
Strucof
Mileage per mile
Works tures per
of
run by Fences.
MUe
and
Engines. Engines
Telegraph. Operated.
3,938,472
4,235,564
4.844,561
4,590,749
5,540,739
5,579,720
6,017.306
5,856,780
6,380,084
6,556,696
20.23c $1.007 57 $59,253 57 $897 48
893 20
19.49c 1.249 45 66,859 27
930 95
18.83c 5,830 27 65.578 44
22.80c 1.629 99 90,065 01 1.04004
26.05c 2,510 71 129,944 90 1,355 67
23.41c 2,177 24 120,290 73 1,217 63
561 63 170.812 64 1.35375
24.14c
34.37c 1,353 54 178,043 02 1,810,06
30.96c 10,498 13 236,007 70 1,792 81
25.29c 4,583 55 253,462 06 *1,47675
OCT, 10 1908.)
THE CHRONICLE
949
TABLE NO. 14.-MAINTENANCE OF EQUIPMENT, JULY 1 1898 TO JUNE 30 1908.
REPAIRS AND RENEWALS.
Years
ended
June 30.
Engines.
No.
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
Amount.
Passenger Cars.'
No. Amount.
Freight Cars.
No.
Amount.
105 $149,915 27 76 $36,631 32 3286 $164,769 54
105 130,051 05 76 40,270 77 3286 143,353 90
105 192 295 81 76 43.954 02 3299 219,388 44
106 227.488 44 79 63,948 32 3333 303.568 56
106 259,994 72 80 69.379 68 3333 373,332 67
106 315,888 07 80 44,068 74 3333 447,784 40
106 332,118 90 82 57,419 09 3333 476,513 46
106 324,544 12 82 46,447 56 3333 585,415 10
106 380,079 76 82 76.324 07 3333 797,916 46
106 479,717 43 82 88,258 94 3333 *803,393 72
Per
Engine
Mile.
3 81-100c
3 7-100c
3 49-100c
4 96-100c
4 69-100c
5 66-100c
5 52-100c
5 54-100c
5 96-100c
7 32-100c
Per
Passenger
Car
Mile.
Per
Freight
Car
Mile.
80-100c
75-100c
67-100c
89-100c
91-100c
55-100c
65-100c
5 i-100c
76-100c 1
85-100c *1
Manic• Other
nance
Equipment
MainteShop,
Expenses,
nance
Machinery including
Marine
and
Superin- Equipment.
Toots.
tendente.
MAINTENANCE OF
EQUIPMENT.
Total.
Per Mile oj
Road Oper(excluding.
Marine
.Equip'I).
36-100c $15,731 58 $27.952 14 $13,897 73 $408,897 55
$413 70*
32-100c 15.330 76 27.781 83
756 33
357,544 64
356 5544-100c 15.748 66 29.417 64
936 00
501.740 57
474 0256-100c 14,839 65 30,787 34
2,188 74
642,921 05
584 97
65-100c 21,511 51 37.988 12
1,700 13
763,906 83
655 7586-100c 27,860 44 50,844 43
2,782 46
889,228 54
755 84
76-100c 18,440 17 50,065 69
6,184 04
940.741 35
776 21
91-100c 25,910 89 53,114 47
2,21365 1.037.645 79
854 88.
10-100c 31,764 47 59,233 63
8,005 26 1,353.323 65 1,085 69.
10-100c 24,039 78 130,223 09
3,78597 *1.529.418 93 *1,175 69.
*Ineludes repairs and renewals of work equipment.
THE COLORADO & SOUTHERN RAILWAY COMPANY.
NINTH ANNUAL REPORT-FOR THE FISCAL YEAR ENDED JUNE 30 1908.
New York, October 1 1908.
To the Stockholders:
The Board of Directors herewith submit their report for
the fiscal year ended June 30 1908.
This Report combines for conAraience the operations and
affairs of lines operated by the Companies named, which
are herein designated "Colorado & Southern Lines:"
The Colorado & Southern Railway Comnany
1,290.64 miles
The Colorado Springs & Cripple Creek District Railway Company, operating separately in Colorado
74.30 44
Fort Worth & Denver City Railway Company, operating
separately in Texas
454.14 11/
Wichita Valley Lines, operating separately in Texas
174.40
Brought forward
$4,634,961 57
Interest on Bonds amounted
232,932 00
Payment by Fort Worth & Denver
to$2
City Rail- ,
way Company under "Stamped" stock agreement of October 12 1895
6,108 62
Interest on Equipment bonds and on deferred
equipment rental payments
135,022 52
Interest on other obligations
88,905 11 2,463,058 25.
Leaving Net Income for the year
$2,171,903 32:
(Increase $80,045 57, or 3.83%.)
Dividends paid during year:
On $8,500,000 00 First Prefererd Stock,4%_ $340,000 00
On $8,500,000 00 Second Preferred Stock,9%
340,000 00 $680,000 00
TRAFFIC.
The increase in Operating Revenues above mentioned is
This is an increase of 94.81 miles over the operated mileage accounted for as follows:
In Freight Traffic
June 30 1907, accounted for as follows:
$350,341 93
(Increase
Total Operated Mileage June 30 1908
1,952.48
Operation of freight trains over Union Pacific Railroad between Denver and Cheyenne under trackage arrangement.._ 106.92 miles
Revision of Colorado & Southern Railway mileage by re
measurement under direction of Chief Engineer
2.94 "
New construction of the Colorado Railroad (all operated by
The Colorado & Southern Railway Company)
1.17 "
LessPals Branch, Colorado & Southern Railway
15.75
Economic Spur, Colorado Springs,& Cripple Creek District Railway
.47
(These pieces of track, being of no further service,
were taken up in order to save further deterioration
of salvage)
Increase in operated mileage for the year
111.03
16.22
04.81
The running of freight trains between Denver and
Cheyenne under trackage agreement with Union Pacific
Railroad Company was inaugurated September 1 1907,
so as to handle in your own trains business to and from your
Wyoming division, which extends north from' Cheyenne
a distance of 153.68 miles. While the number of freight
trains ruti by your Company under this arrangement averaged only one and one-half per day, the addition of this
106.92 miles ,to the schedule of your operated mileage is
in conformity with the accounting rules of the Inter-State
Commerce Commission. The Wichita Valley Lines, as
stated in the last annual report, were included in operations
from January 11907, so that for the six months July 1 1907
to December 31 1907 there was an increase in mileage as
compared with the same months in 1906. The result of
all these changes was an increase in average miles operated
for the year of 173.70, and because the additional lines
herein referred to had less traffic than other "Colorado &
Southern Lines," the aggregate operating revenues, operating expenses and net operating revenues per mile of
road were somewhat diminished, as indicated by table
on page 29 of pamphlet report. Of the $906,731 19 increase in aggregate operating revenues for the year, $453,399 01 is attributable to additional mileage as herein described.
The term "Colorado & Southern Lines" indicates the lines
owned and operated by the Colorado & Southern Railway
Company, together with the lines whose capital stock is
owned wholly, or nearly so, by. that Company, and is used
in distinction from lines in which the Colorado & Southern
Railway Company is interested, as follows:
The Colorado Midland Railway Company, which operated
separately in Colorado, on June 30 1908
337.64 miles
and in which your company has beneficial interest in onehalt of the capital stock.
The Trinity & Brazos Valley Railway Company, which operated separately in Texas, on June 30 1908
421.72 "
All of the issued stocks and bonds of which are pledged
under The Colorado & Southern Refunding and Extension Mortgage, but in whose stock The Rock Island Com•
pany has taken a one-half Interest, subject to the liens
of the Colorado & Southern Mortgages.
RESULTS FOR THE YEAR.
Operating Revenues were
$14,280,535 24
(Increase $006,731 19, or 6.78%)
Operating Expenses were
9,504,205 81
(Increase $612,581 82, or 0.82%).
Net Operating Revenues were
(Increase $204,140 57, or 6.70%.)
Taxes were
(Increase $71,905 71, or 21.45%.)
$4,686,329 43
Operating Income, Taxes deducted, was
Miscellaneous Income, less Hire of Equipment, was
$4,270,227 99
355,733 58
Income for the year available for interest was
(Increase $640,504 67, or 16.30%.)
$4,634,061 57
407,101 44
3.63%.)
In Passenger Traffic
(Increase 12.81%.)
In Express, Mall and Miscellaneous
(Increase 27.07%.)
Total Increase (6.78%)
403,089 36153,299 90.
$906,731 19'
EXPENSES.
The increase in Operating Expenses is accounted for as
follows:
In Maintenance of Equipment
(Increase 15.84%).
In Traffic Expenses
(Increase 8.55%.)
In Transportation Expenses
(Increase 11.33%.)
In General Expenses
(Increase 24.29%.)
$290,486 95.
21,808 48
474,070 39.
96,582 19
$882,947 96.
Less DecreaseIn Maintenance of Way and Structures
$270,366 34
(Decrease 11.69%, nearly all in rail renewals, for which the
necessities of the year were very small on account of work
done in previous years.)
Total Increase (6.82%)
$612,581 62
The percentage of Operating Revenues required forOperating Expenses was 67.18% as compared with 67.16%
in the previous year, and the proportion of Income required
for interest was 53.12% as compared with 47.51% in the
previous year.
BOND ISSUES.
During the year, Refunding and Extension Mortgage
Bonds of your Company were issued for the following purposes:
The Colorado Railroad Company Securities
$326,198 25.
The Denver & Interurban Railroad Company Securities
865,445 94
The Gilpin Railroad Company Securities
33,241 38
The Colorado Springs & Cripple Creek District Railway Company bonds retired
150,000 041.
Fort Worth de Denver City Railway Company Securities
484,352 85Wichita Falls & Oklahoma Railway Company Securities__ _ _
30,222 32
Wichita Valley Railroad Company Securities
136,485 89.
Abilene & Northern Railway Company Securities
153,958 15.
The Trinity do Brazos Valley Railway Company Securities_ _ _ 1,418,808 12
General Corporate Purposes
933,511 25
Betterments and Improvements for the calendar year b008
1,056,025 00$5,588,190 15.
and Refunding and Extension Mortgage Bonds to the face
amount of $1,256,162 26 were sold, including. $644,173 22
delivered to The Chicago Rock Island & Pacific RailwayCompany in reimbursement for advances by that Company
to your COmpany for construction expenditures upon The
Trinity & Brazos Valley Railway from June .1 1907 toDecem ber 31 1907 in respect of which The Trinity & BrazosValley Railway Company has issued its First Mortgage
Bonds, which have been pledged under the Refunding and
Extension Mortgage of your Company, such delivery being
in accordance with an arrangement between your Company
and The Chicago Rock Island & Pacific Railway Company
made in June 1907.
During the year, on application of Fort Worth & DenverTerminal Railway Company, a re-valuation of its property
was in ade by the Texas Railroad Commission upon the basis
of which the issue by that Company of $15,000 stock and
$728,000 first mortgage bonds was authorized by the Commission in lieu of $200,000 stock and $200,000 first mortgage
bonds previously issued, which were canceled. Of the
new bonds so issued, $300,000 were purchased by your
Company and re-sold, the proceeds being invested in the
purchase of the remaining outstanding shares of unstampedi
[VOL. Lxxxvii.
THE CHRONICLE
950
stock of Fort Worth & Denver City Railway Company.
The remainder of these bonds, $428,000, was received by
Fort Worth & Denver City Railway Company in satisfaction
of cash advances and for property transferred to the Terminal
Company, including the securities canceled as above, and
are held as a free asset in the treasury of Fort Worth &
Denver City Railway company.
On June 30 1908 the total bond issues of The Colorado &
Southern Railway Company were as follows:
First Mortgage Bonds
Refunding and Extension Mortgage Bonds
$19,402,000 00
25,110,116 05
On the same date, your assets included the
following:
First Mortgage Bonds owned by your Company
Refunding and Extension Mortgage Bonds owned by your
Company
Fort Worth & Denver Terminal Railway Company First
Mortgage Bonds owned by Fort Worth & Denver City
Railway Company
5300,000 00
5,346,570 70
428,000 00
$6,074,570 70
and your Company also held:
Refunding and Extension Mortgage Bonds to be appropriated for Improvements and Betterments
$864,628 68
Since June 30 1908 sales of bonds have been
made as follows:
First Mortgage Bonds
Refunding and Extension Mortgage Bonds
$300,000 00
3,000,000 00
All First Mortgage Bonds which your Company is at
liberty to sell have now been issued.
THE TRINITY & BRAZOS VALLEY RAILWAY.
Full explanations concerning the construction and ownership of this line were made in the last two annual reports.
The construction work in progress at the time of the last
report has been prosecuted diligently, but On account of
unusual rains progress was much slower than was hoped for
a year ago. In consequence,it has been practicable to accept
only a small part of the business available for this line and
the expenses of operation have been more than the revenue.
At this writing, however, the line from Dallas to Galveston
s ready for a large business, and the outlook for traffic
from now on is most promising, particularly on account
of excellent crop conditions in Texas and Oklahoma. Because of the circumstances above noted, considerable
sums have been advanced to cover the deficit in operations
and for constpuction and improvement work for which
bonds have not been issued by The Trinity & Brazos Valley
Railway Company, and these sums, together with unpaid
interest, stand on June 30 1908 as a charge to The Trinity
& Brazos Valley Railway Company. The amounts so
charged will be found stated on another page. Since
January 1 1908 The Chicago Rock Island & Pacific Railway Company has, under the agreement mentioned in the
last two annual reports, participated with your Company
in making advances from time to time to meet requirements of The lTrinity & Brazos Valley Railway Company. For all the foregoing advances, The Trinity & Brazos
Valley Railway Company certificates of indebtedness
are, under the agreement, issuable in favor of the companies respectively making such advances.
Extensive and superior freight terminals at Galveston,
acquired and constructed by Galveston Terminal Railway
Company, for which advances have been made equally
by your Corn pony and by ,The Chicago Rock Island &
Pacific Railway Company, are now in satisfactory operation. The new freight terminals of the Houston Belt &
Terminal Railway Company, hlso excellent in location and
character of construction, for which advances have been
made by your Coin pony, the Rock Island Lines, the Santa
Fe, the Frisco Lines and The St. Louis Brownsville &
Mexico Railway Company, will be in operation soon after
the appearance of this report. On account of financial
conditions, the construction of new passenger terminals
of the Houston Belt & Terminal Railway Company has
been deferred and the passenger station of the Santa Fe at
that point is still being used. Your Company and The
Chicago Rock Island & Pacific Railway Company have
jointly vested in The Trinity & Brazos Valley Railway
Company one-fourth of the capital stock of Houston Belt
& Terminpl. Railway Company, and purpose, in the near
future, to adopt a similar course with reference to practically
the entire outstanding capital stock of Galveston Terminal
Railway Company. By this means the extensive and
valuable terminals controlled through these Terminal
Companies will, to the extent described herein, become
assets of The Trinity & Brazos Valley Railway Company,
and will further augment the value to your Company of its
investment in that line.
THE DENVER & INTERURBAN RAILROAD.
This electric line, mentioned in last annual report, has been
completed,and its results are being included in statements of
the operations of "Colorado & Southern Lines" since July 1
1908. This adds 27.05 miles to the operated mileage of
"Colorado & Southern Lines" and besides this, electric
cars are operated over 24.27 miles of Colorado & Southern
tracks already included in operated mileage.
i
n progress has been continuedlIA detailed account of the
amount charged to improvement account for the year
will be found on pages 22 and 23 [see pamphlet report].
Up to June 30 1908 28.52 miles of rock ballast and 110.15
miles of gravel ballast, a total of 138.67 miles, had been
completed on your Fort Worth & Denver line. A few
years ago a well maintained dirt road was sufficient for
the business of that line, but in ten years its freight ton
miles have increased 179 per cent and passenger train
mileage has increased 174 per cent. With continually
increasing costs during that period for wages, ties and
other items, your officials discovered, as officials of other
lines have done, that almost the only offset which could
be devised was tie hauling of much larger trains, and this
involved the pirchase of heavier locomotives. During
the last year time was a great deal of rain, which, together with the heavier trains, has made it impossible
to maintain the unballasted track in satisfactory condition at all the es. However, the ballasting is being
continued with diligence and it is expected that the whole
line, which is in first-Class condition otherwise, will be
well ballasted by June 30 1910 and by December 31 1910
the program adopted several years ago under which permanent bridges are being substituted for wooden bridges,
will be completed, thus eliminating every wooden bridge
on that line (sixty-eight per cent having already been
eliminated) except over the Canadian, the Red and the
Pease Rivers. Up to June 30 1908 $94,994 32 had been
advanced to The Alvord Railroad, a piece of road about
nine miles in length, which it was necessary to construct
in order to reach the only satisfactory stone quarry to be
found adjacent to your Fort Worth & Denver line. The
amount charged to ballasting and bank widening on that
line for the year was $324,229 42. Besides this, there
was $25,011 02 charged to ballasting and bank widening
on the Fort Collins district in Northern Colorado. There
will be a similar amount expended on that district during
the current year. The other large item in improvement
work for the last year is $254,490 02 for the building of
a new line 7.41 miles in length between Louisville Junction
and Sem per, Colorado, just north of Denver. This line
has a maximum grade of eight-tenths of one per cent and
is used for freight and passenger traffic moved by steam,
while the old line alongside, which has a maximum grade
of one and thirty-Six one-hundredths per cent, is used for
the electric operations of the Denver & Interurban Coin pany.
BILLS PAYABLE.
On account of the prosecution of improvement and construction work mentioned in the preceding sections of this
report, your Company had created prior to June 30 1908
bills payable to the amount of $2,500,000, which have been
paid off since that date. Your Company now has no
floating debt.
NEW EQUIPMENT.
The changes in new equipment account during the year
were not large, but are fully set forth on page 24 [see pamphlet report.]
Besides the items enumerated therein, and in anticipation
of a large traffic this fall and winter, thirteen locomotives
were purchased for your Fort Worth & Denver line, which
have been delivered by.the builders since the close of the year..
SURPLUS ACCOUNT.
The Surplus on "Colorado & Southern Lines" for three years
$6,029,9/3 10
ended June 30 1908 amounted to
During this period Dividends were paid as follows:
On Colorado & Southern First Preferred Stock
On Colorado & Southern Second Preferred Stock
$850,000 00
510,000 00
$1,360,000 00
The Surplus on "Colorado & Southern Lines" to June 30 1908
$10,567,515 67
amounted to
Out of which $1,393,663 97 was written off for discount on
Bonds sold, Improvements, Betterments, Uneollectible
Accounts, &c., and Dividends have been pald by The
Colorado S: Southern Railway Company as follows:
$2,125,000 00
On Colorado & Southern First Preferred Stock
510.000 00
On Colorado & Southern Second Preferred Stock
$2,635,000 00
In each case the Profit not distributed to shareholders
was devoted to improving the physical and other assets
of your Company and its auxiliary lines; and the public has,
of course, been furnished with more and more facilities
from year to year.
It is the desire of your Company to keep abreast of all
reasonable demands for service, not only at competitive
points, but also in purely local territory; hence the large
amounts expended out of Income as above indicated.
Statements, both financial and statistical, presented by
the General Auditor, exhibit, fully, operations for the year,
and the accounts have been verified by Messrs. Deloitte,
Plendk_T, Griffiths & Co., whose certificate appears on next
page.
minimummummummom
Announcement is made with great regret of the death
on September 5 1908 at Bar Harbor, Maine, of Mr. John J.
Notwithstanding the disagreeable financial conditions Emery, who had been a valued member of your Board of
which arose so unexpectedly during the last year, nearly Directors since November 15 1900 and of your Executive
all of the improvement and construction work which was Committee since November 30 1903.
IMPROVEMENT WORK.
OCT. 101908.]
THE CHRONICLE
951
Acknowledgement is made with pleasure to Officers and
We have particularly investigated the charges for Repairs
EmplOyees for faithful service rendered.
and Renewals of Equipment and found that all Equipment
destroyed or sold during the period has been replaced or
By order of the Board of Directors,
provided for by charges to Operating Expenses.
FRANK TRUMBULL,
And we certify that the attached Balance Sheet and
President.
accompanying Statement of Income and Profit and Loss
GRENVILLE M. DODGE,
Accounts correctly set forth the financial position as shown
by the books of the various Companies as at June 30 1908
Chairman.
and the result of operating the Lines for the year ended
that date.
DELOITTE, PLENDER, GRIFFITHS & CO.,
Yours truly,
Accountants and Auditors,
DELOITTF.1, PLENDER, GRIFFITFIS & CO.
49 Wall Street.
New York, September 24th 1908.
REVENUES AND EXPENSES FOR THE FISCAL YEAR ENDED
JUNE 30 1908, COMPARED WITH JUNE 30 1907.
Grenville M. Dodge, Esq., Chairman of the Board of Directors
Operating
of The Colorado dc Southern Railway Company, New
Revenues.
Increase (
York City.
or
Last Decrease (-).
7'his
Dear Sir-We have made an examination of the books
Operating RevenuesYear. Year.
and accounts of The Colorado & Southern Railway Company, Freight
$10.011,748 85 70.11 72.24 +$350,341 93
3,549,196 48 24.85 23.53 +403,089 36
Fort Worth & Denver City Railway Company, The Colorado Passenger
Express, Mall and MiscellaneSprings & Cripple Creek District Railway Company, The
ous
719,589 91
5.04
4.23 +153,299 90
--- VVicihta Valley Railway Company, Wichita Falls & OklaTotal Operating Revenues $14,280,535 24 100.00 100.00 +$906,731 19
homa Railway Company, Wichita Valley Railroad ComOperating Expensespany, Abilene & Northern Railway Company, The Colorado Maintenance
of Way and
.Railroad Company and Fort Worth & Denver Terminal
Structures
$2,041,563 41 14.30 17.29 -$270,366 34
Maintenance of Equipment
2,124,147 98 14.87 13.71 +290,486 95
Railway Company, comprising the Colorado & Southern Traffic
Expenses
276,794 60
1.94
1.91
+21,808 48
Lines, for the year ended June 30 1908.
Transportation Expenses_ _ _ _ 4,657,527 55 32.61 31.28 +474.07039
The Securities owned and on hand have been produced to General Expenses
494.172 27
3.46
2.97
+96,582 14
us and Certificates obtained relative to those in the hands of
Total Operating Expenses_ 39,594,205 81 67.18 67.16 +$612,581 62
Trustees, pledged or assigned as collateral. The Cash
Net Operating Revenues_ _ _ _ $4,686,320 43 32.82 32.84 +1294,149 57
items have also been duly verified.
Taxes
407,101 44
2.85
2.51
+71,905 71
We have examined the charges to "Improvement Account"
Operating Income
$4,279,227 99 29.97 30.33 +$222,243 86
during the period, all of which, in our opinion, are proper.
Average Mites Operated
1,931.71
+173.70
BALANCE SHEET JUNE 30 1908.
ASSETS.
Cost of Road and Equipment,
including Discount on Securities not written oil
$84,425,073 65
Improvements (see pages 22 and
23 of pamphlet report)
3,000,902 40
New Equipment (see page 24 of
pamphlet report)
9,192,559 95
Current AssetsCash
$509,039 75
Cash with Trustees to pay Coupons and Dividends
120,870 74
Construction Advances Galveston
Terminal By. Co
•395,590 70
Individuals and Companies
612,203 38
Agents and Conductors
269,069 17
United States Government
55,777 84
Foreign Roads Traffic Balances_
141,041 12
Insurance Paid in Advance
23,606 47
State and County Warrants__ _ _
17,037 51
-$2,144,326 77
Material and Supplies
1,090,682 42
First Mortgage Bonds of The
Colorado & Southern Railway
• Co., in Treasury, par value_ _
300,000 00
Refunding and Extension Mortgage Bonds of The Colorado dc
Southern Railway Co., in
Treasury(including$258,728 24
in Hands of Trustee, delivered
to Treasurer July 3 1908), par
value
5,346,57070
First Mortgage Bonds of Fort
Worth & Denver Terminal
Railway Co. In Treasury, par
value
428,000 00
Deferred AssetsAccrued Interest on Securities
owned
255,029 49
9,564,600 38
Construction AdvancesAccount Waisenburg & Western
Ry
$19,908 23
Account Alvord RR
94,994 32
Account Dallas Terminals
160,626 07
Account Trinity & Brazos Valley
Ry
380,000 00
Account Houston Belt & Terminal Ry
229,249 48
Special Funds893,778 10
Cash in hands of Treasurer received in payment of Property
held under First Mortgage The
Colorado & Southern Railway
Co
$48,547 48
Cash in hands of Trustee applicable to redemption of The
Colorado Springs & Cripple
Creek District Railway Co.'s
First Mortgage Bonds
246 93
48,794 41
Other AssetsSecurities of Other Companies_ _
11,732,19035
Refunding and Extension Mortgage Bonds held to be appropriated for Improvements and
Betterments
864.628 68
12,596,810 03
LIABILITIES.
Capital StockFirst Preferred. The Colorado &
Southern Railway Co
. $8,500,000 00
Second Preferred, The Colorado
& Southern Railway Co
8,500,000 00
Common,The Colorado & Southern Railway Co
$31.000,000 00
Common, The Colorado Springs
& Crinple Creek District Railway Co
900 00
The Colorado Railroad Co
500 00
Fort Worth ec Denver City Railway Co., including $85,772 00
"Stamped"
88,822 00
The Wichita Valley Railway Co
900 00
Wichita Falls & Oklahoma Railway Co
900 00
Wichita Valley Railroad Co__ _ _
900 00
Abilene do Northern Railway Co_
900 00
Fort Worth & Denver Terminal
Railway Co
900 00
31,094,722 00
---------$48,094,722 00
Funded DebtFirst Mortgage 4% Bonds, The
Colorado do Southern Railway
Co
$19,402,000 00
Refunding and Extension 43i%
Bonds. The Colorado & Southern Railway Co
25,110,116 05
First Mortgage 5% Bonds The
Colorado Springs & Cripple
Creek District Railway Co_
1,740,000 00
Second Mortgage 5% Bonds, The
Colorado Springs & Cripple
Creek District Railway Co
194,000 00
First Consolidated Mortgage 5%
Bonds, The Colorado Springs
& Cripple Creek District Railway Co
1,379,000 00
First Mortgage 6% Bonds, Fort
Worth & Denver City Railway Co
8,11,00000
First Mortgage 6% Bonds, Fort
Worth & Denver Terminal
Railway Co
728,000 00
56,724,116 05
Equipment Bonds, Series "A,"
The Colorado & Southern
Railway Co
024,0043 00
Equipment Lease "Pullman,"
The Colorado & Southern Railway Co. Deferred Rentals_ _ _ _
251,489 10
Equipment Lease, Series "A."
Fort Worth & Denver City
Railway Co. Deferred Rentals_
468,000 00
Equipment Lease, Series "B,"
Fort Worth & Denver City
Railway co. Deferred Rentals_
340,000 00
Equipment Lease, "Pullman."
Fort Worth & Denver City
Railway Co. Deferred Rentals_
840,405 00
2,823,894 10
Current LiabilitiesVouchers
$706,662 58
Pay-rolls
522,889 28
Foreign Roads-Traffic Balances 357,448 45
Interest on Bonds due and unpaid
93,366 93
Unclaimed Dividends
8,207 50
Employees' Deposits
1,944 00
Insurance Collected
4,853 43
Rail Released not Re-laid
35,563 25Equipment Renewal Reserve__ _
252,247 67
Building Renewal Reserve
75,385 89
------- 2,058,368 98
Bills Payable
2,500,000 00
Deferred LiabilitiesAccrued.Taxes
1284,642 13
Accrued Interestnot yet due_ _ _
580,159 55
Accrued for Renewal of Rails_ _
36,826 49
Accrued for Renewal of Bridges_
3,796 41
Accrued for Renewal of Equipment
76,959 51
-------
982,384 09
5,540,953 07
Balance to Credit of Profit and
Loss .
6,538.851 70
--------$119,722,536 02
$110,722,536 92
Galveston Terminal Ry. Co. holds in its Treasury $1,106,000 of its First Mortgage Gold Bonds, out of the proceds of which Liabilities for
Construction and Acquisition of Property will be discharged.
THE CHRONICLE
952
INCOME ACCOUNT FOR THBI FISCAL YEAR ENDED JUNE 30 1908.
$14,280,535 24
Operating Revenues
9,594,205 81
Operating Expenses
Net Operating Revenues
Taxes
$4,686,329 43
407,101 44
Operating Income
$4,279,227 99
AddIncome from Investments
.$496,388 52
Interest, Discount and Exchange__ 70,400 00
Insurance Commissions
2,788 17
5,465 73
Outside Operations
Rentals
5,053 58
Less Hire of Equipment
$580,096 00
224,362 42
Balance Available for Interest
LessInterest on First Mortgage 4%
Bonds, C. & S. Ry. Co
$764,080 00
Interest on Refunding and Extension
Mortgage 4;;% Bonds, C. & S.
,Ity Co
810,480 89
Interest on First Mortgage 5%
Bonds, C. S. & C. C. D. Ry. Co
87,690 27
Interest on Second Mortgage 5%
Bonds, C. S. & C. C. D. Ry. Co
9,970 84
Interest on First Consolidated Mortgage 5% Bonds, C. S. & C. C. D.
68,950 00
Ry. Co
Interest on First Mortgage 6%
490,260 00
Bonds, F. W. & D. C. Ry. Co
Interest on First Mortgage 6%
1.500 00
Bonds, F. W. & D. T. Ry. Co_ _ _
Payment by F. W. 8c D. C. Ry. Co.
under "Stamped Stock" agree6,198 62
ment of October 12 1895
Fiscal Year's Proportion of Interest
48,750 00
on Equipment Bonds
Fiscal Year's Proportion of Interest
on Deferred Rentals under Equip88,272 52
ment Leases
88.905 11
Interest on Other Obligations
355,733 58
[VOL. Lxxxvii.
Brought forward
$5,053,389 69 $2,171,903 32
Dividends Paid onFirst Preferred Stock C. & S. Sly.
Co., Dividend Number Twelve,
paid October 1 1907
$170,000 00
First Preferred Stock C. Fc S. By.
Co., Dividend Number Thirteen, paid April 1 1908
170.000 00
Second Preferred Stock C. & S.
Ry. Co., Dividend Number
Two, paid October 1 1907
170,000 00
Second Preferred Stock C. & S.
Ry. Co., Dividend Number
Three, paid April 1 1908
170.000 00
686,441 31 4,366,948 38
Uncollectible Accounts, &c
6,441 31
Surplus Carried to Prof:t and Loss
$6,538,851 70
$4,634,961 57
STATEMENT OF MISCELLANEOUS SECURITIES, CARRIED ON
BALANCE SHEET AS "SECURITIES OF OTHER COMPANIES," AT COST VALUE OF $11,732,190 35.
StocksPar Value.
Total.
The Colorado Midland Ry. Co. Preferred Stock
(beneficial interest in one-half of $4,954,800 00, par value)
32,477.400 00
The Colorado Midland Ry. Co. Common Stock
(beneficial Interest in one-half of $3,420,200 00, par value)
,1,710,100 00
The Trinity & Brazos Valley Sly. Co. Capital
Stock
303,100 00
800 00
The Denver & Interurban RR.Co. Capital Stock
199,950 00
The Gilpin RR. Co. Capital Stock
The Union Depot & Ry. Co., Denver, Capital
80,000 00
Stock
The Pueblo Union Depot Fe RR. Co. Capital
22,520 00
Stock and Sinking Fund
288,400 00
Miscellaneous Stocks
$5,082,270 09
2,463,058 25
Net Credit to Income for the Fiscal Year Ended
June 30 1908
$2.171,903 32
Balance to Credit of Profit and Loss. June 30
34,699,267 62
1907
Add$17,197 57
Profit on Material Sold
Credit Account Re-valuation Fort
Worth Terminals by Texas Railroad Commission as Basis for
321,766 17
Re-capitalization
15,158 33 354,122 07
Miscellaneous Items
$5,053,389 69
Pope Manufacturing Co.-Deposits, &c.-The extended
time to deposit stock with the Central Trust Co., depositary,
under the reorganization agreement expired on Monday
last, at which time 97% of the first and 84% of the second
preferred stock had agreed to the plan. This is sufficient
to insure the carrying out of the plan, but further deposits,
it is understood, will be received until notice is given.
The Waverly plant at Indianapolis, owned by the subsidiary Pope Motor
Car Co., has been sold (except cash on hand, $101,000) for $200,000 and
will be operated by the Waverly Co., recently organized with $225,000
stock to manufacture electric carriages and trucks. The $300,000 capital
stock of the Columbia Steel Co. was sold some weeks ago, netting about
3190,000, and negotiations have recently been pending for the sale of the
Toledo plant, the plan being to concentrate operations at the Hartford and
Westfield properties. The courts haye authorized the payment of a third
installment of 25% to holders of approved claims. See V. 87. p. 350, 483.
Southern Indiana Coal Co.-Receiver's Certificates.-The
Federal Court at Indianapolis on Oct: 1 authorized an issue
of $75,000 first lien receiver's certificates to provide for
payment of wages, various loans, taxes, &c.-V. 87,
p. 550.
Springfield (0.) Light, Heat & Power Co.-Consolidation.
-This coin pany,with $1,000,000 of authorized capital stock,
in shares of $100 each,received its certificate of incorporation
on Sept. 23,and on Sept. 26 meetings were held ratifying the
sale to the new corporation of the properties,of the People's
Light, Heat & Power Co. (V. 84, p. 225) and the Home
Lighting,Power & Heating Co.,both of Springfield, per plan
in V. 87, p. 484. Bonds to the amount of $550,000 (not
$500,000 Ed.) have been authorized,with the Capital Trust
Co., Columbus, 0. as trustee.
BondsThe Trinity & Brazos Valley Ry. Co. First
$8,760,000 00
Mortgage Bonds
The Denver & Interurban RR. Co. First Mort903,000 00
g ge Bonds
235,000 00
Other Bonds
Miscellaneous-The Trinity dc Brazos Valley By. Co. Certificates of Indebtedness
Total
9,898,000 00
490,083 19
--$15,470,353 19
Streets Western Stable Car Line., Chicago.-Bond Issue.
-The directors, it is said, contemplate making an issue
of $2,000,000 5% bonds early in 1909 to retire $1,500,000
car trust notes and provide for improvements and additions
to rolling stock. See V. 87, p. 543.
United States Steel Corporation.-Development Work.See Great Northern Ore Properties above.-V. 87, p.
484, 351.
Virginia-Carolina Chemical Co.-Bonds Sold.-The company has sold to Blair & Co. and Hallgarten & Co. $12,000,000 of 5% five-year debenture bonds; authorized issue
$15,000,000. See V. 87, p. 161, 283.
Washington & Potomac Steamboat Co.-Receivership in
Virginia.-At Fredericksburg, Va., on Oct. 6, Judge T. R.
B. Wright appointed W. T. Mayo of The Hague receiver
for certain interests of the company in Virginia, these including property at Colonial Beach,the Colonial Beach Hotel,
amusement hall, excursion wharf, &c. Compare V. 86,
p. 233; V. 83, p. 163.
-Chichester C. Kerr, a member of the firm of Gude,
Winmill & Co.,Bankers,20 Broad St.,this city,will represent
the firm in Washington, D. C. during the coming winter.
Owing to the largely increased clientele of this firm in Washington and that section, it was found necessary to have one
of the firm establish.headquarters in that territory. Gude,
Winn- ill & Co. invite offerings and inquiries concerning
railroad and industrial bonds, short-term notes, bank and
The properties were taken over Oct. 1. Subscriptions for the new stock
company stocks and inactive and unlisted securities.
were made payable In three equal installments, Oct. 1, Oct. 15 and N v. 1 trust
either at the People's in Springfield, or at the Capital Trust, H. & P. They ask interested parties to write for their October bond
shares
The
of
the
People'sCompany
also
are
exchangeable
Columbus.
Co.,
at either of the places named Into strck of the new company, on the basis circular.
already announced. All of the new stock not takenby the st ckh lder .
-A. M. Kidder & Co., 18 Wall St. this city, make a
It is stated, has been underwritten by the syndicate headed by J. D. Price,
of Orr, Brown & Price. of Cilumbus. From the proceeds o. sale 0. the new special offering to-day of tax-exein pt railroad company
stock, we lear the existing bond issue of $100,000 and a floating debt of stocks. The features of this sale are: 500 shares of New York
$80,000 (not $180,000) will be taken up. Charles S. Kay is General
& Harlem Railroad Co. 14% stock, guaranteed by the New
Manager
and 300 shares of United New Jersey
United States Realty & Improvement Co., New York.- York Central RR. Co.,
Contracts-Earnings.-The directors on Oct. 9 approved RR. & Canal Co. 10% stock, guaranteed by the Pennsylon application.
contracts for building, &c., to a total of $5,505,000, covering vania Railroad. Pricewho
was elected to membership in
-Clarence Young,
territory from New York to San Francisco.
The largest single contract, It Is understood, was for the construction the New York Stock Exchange last week, has become a
for the Beinord Realty Co., New York, covering the entire block bounded partner in the Stock Exchange house of Joseph Walker
by Broadway, Amsterdam Ave., 86th and 87th sts., of a 12-story apartYoung,
ment house, which is to be ready for occupancy by Jan. 1 1910. The & Sons of this city. Mr. Young is a son of Horace S.
Belnord Realty Co. on Sept. 3 1908 filed upon the property (1) to the Chairman of the Board of the Albany Trust Co.of Albany,
building
loan
mortgage
of
a
Metropolitan Life Insurance Co.
$3,000,000,
formerly Vice-President of the Delaware &
due Nov. 1 1913, with Interest at 6% until Nov. 1 1911'and 5% thereafter, N. Y., and
and (2) subject to the foregring a purchase-money mortgage of $1,500,000 Hudson Co.
to the Broadway & 86th Street Co. (see New York "Times" of Sept. 4).
-An attractive investment list is presented in the October
-Consolidated Preliminary Income Account for September and Five Months
circular issued by D. Arthur Bowman, Third National
ended Sept. 30 1908.
Sept.
5 Mos.
Sept.
5 Mos.
Bank building, St. Louis. A carefully-selected assortment
$
ExpendituresReceipts from$
equipment and public
90,571
Interest
92,117 Interest, &c
17,819
407,785 of municipal, county, railroad,
. atten587,604 Exp. of manage't_ 28,203
Real estate
121,472
146,599 service bonds is contained in the circular. Especial
148,391
Secur. of RealtyCos 36,495
municipal loans,. which are
Net income_ _ _ _159,848 639,164 tion is directed to Oklahoma
Stocks and bonds
other companies 12,680
32,481 Int. on debentures 55.350 276,750 stated to be coming into increased favor with investors.
On buildings com-A copy of the "Bankers' Convention Section," our an104,498 362,414
Surplus
pleted
3,230
22,006
Quarterly div
161,628 nual report of the proceedings of the 1908 Convention of the
On buildings in
86,926 310,949
progress
American Bankers' Association, held last week in Denver,
Net surplus__ - - -Total gross ___ _278,622 1,193,548
200,786 is mailed to all subscribers with to-day's issue of the
Total surplus of the company Aug. 311908, $2,989,302.-V. 86, p. 1465
"Chronicle."
OCT. 10 1908.j
THE CHRONICLE
953
The Tomuternal
Wian,M
COMMERCIAL EPITOME.
'Friday Night, October 9 1908.
Trade continues to improve as indicated both by increased
bank exchanges compared with those of a year ago and the
starting up of mills and factories, necessitating a larger
supply of labor, to say nothing of the reduction in the supply
of idle freight cars. Crops are bountiful and seem likely to
have an excellent market.
LARD on the spot has been in fair demand at lower prices.
Western 10.45c and city 10Vic. Refined showed some
weakness and then partially recovered, though the receipts
of hogs have been heavier throughout the West. Continent
11.05c.; South America 11.65c.; Brazil in kegs 13.15c.
The speculation in lard futures has been swayed by conflicting influences, i. e., the advance in grain on the one
hand, the big receipts of hogs and bearish manipulation on
the other. Packers have endeavored to break prices.
DAILY CLOSING PRICES
Sat.
10.40
9.82%
9.75
October delivery
January delivery
May delivery
OF LARD FUTURES IN CHICAGO.
Mon.
Tues.
Fri.
Thurs.
Wed.
10.05
9.97% 9.92% 10.023.
9.95
9.57% 9.50
9.55
9.65
9.55
9.50
9.42A 0.50
9.57 % 9.50
COTTON.
Friday Night, October 9 1908.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
343,617 bales, against 338,816 bales last week and 286,480
bales the previous week, making the total receipts since
the 1st of September 1908, 1,364,070 bales, against 980,578
bales for the same period of 1907, showing an increase since
Sept. 1 1908 of 383,492 bales.
Receipts atSat.
Mon. I Tues.
Wed. Thurs. Fri.
Total.
----Galveston
18,374 13,725 35,00'7 10,026 18.136 21,949 117,21'7
Port Arthur__
CorpusChristi,doc
-------------------- 2402,
2,402
New Orleans
3,936 7:472 9:043 10,497 10:180 7,505 48,633
Mobile
1,736 3,093 3,897
1.836
2.551
788 13,901
Pensacola
_
Jacksonville, &c.
85
663
____
320
---- --1,068
Savannah
15,102 15,682 24,654 10,455 13,4,68 10,035 89,396
Brunswick
11,249 11,249
Charleston
2,555 2,445 1,021 1,554 -iii 2,310 10,579
Georgetown
Wilmington
3,530 4,885 6,575
. 2.435
1-,.8-84 25-,454
.
Norfolk
28
3,1 4466
,
205 21,716
NewportNews,&c
------------------------_
286--__
286
New Y
50
Boston------------- ------100
100
Baltimore1,464 1.464
Philadelphia_ _ _ _
---60
---42
---102
------ ------Totals this wk
48,087 51,723 84,663 41.379 54.646 63.119 343,617
6-,165
PORK on the spot has declined with a light trade. Mess
$17®$17 25, clear $19©$20 75 and family $20 50®$20 75.
Beef has been in moderate demand ,with mess $13®$13 50;
packet $15®$15 50; flank $14®$14 50; family $16®$17 25;
extra India mess $24@$25. Cut meats have met with a fair
The following shows the week s total receipts, the total
demand; pickled hams $125
/s ®12Mc.• pickled bellies since Sept. 1 1908, and the stocks to-night, compared with
$11 ®12c.; and pickled shoulders 734
Stearines last year:
have been quiet and easier; oleo 13®13Mc.; lard 12®1231c.
Butter has been in steady demand ,with prices higher; cream1908.
1907.
Stock.
Receipts to
ery extras 2734c. Cheese has been steady, with interior
October 9.
This Since Sep This Since Sep
marketsfirm; State,full cream,small fancy,13c.; large 12Mc.
week.
1 1908. week.
1 1907.
1908.
1907.
OIL.-Cotton-seed has been quiet with some tendency to Galveston
117,217 539,506 49,435 282,038 100,842
72,534
decline; winter 423-'@47c. Linseed has been weaker,with Port Arthur
Christi, &c_
2,402
3,371
275
1,875
trade stagnant. ' City raw American 43®44c.; boiled 42c.; Corp.
New Orleans ____ 48,633 142,441 28,616
80,737
92,805
82,298
Calcutta raw 70c. Lard has shown greater firmness of late, Mobile
13,901
52,946 11,062
31,925
37,940
22,823
9,288
with a better inquiry, although actual business has not been Pensacola
1,252
Jacksonville, &c_
1,068
4,078
379
529
active. Prime 75®80c. and No. 1 extra 54®56c. Olive Savannah
89,396 362,374 76,926 321,736 135,170
81.338
11,249
has been steady, partly owing to the scarcity of the higher Brunswick
37,501 12,273
40,417
13,296
10,869
10,579
51,658 13,989
49,584
27.969
23,864
grades, with quotations ranging from 90c. to $1 25. Cocoa- Charleston
Georgetown
9
nut has been in somewhat better demand of late, though Wilmington
25,454
03.372 37,600 114,512
25,021
32.547
Norfolk
21,716
62,838 19,116
53,442
19,613
20,591
the sales are rather small for the season. Cochin has been NewportNews,&c.
286
1,322
193
819
quoted at 7@7%c. Ceylon 69®6c. Peanut has New York
50
54
60,186 156,870
100
818
153
391
4,714
2,467
remained at 55®80c.,with a moderate trade. Cod has been Boston
Baltimore
1,464
2,215
338
877
2,334
971
quiet with domestic still 38®40c. and Newfoundland Philadelphia
102
279
100
444
1,578
3,767
I
----- --------•40®42c. The offerings are light at the moment.
Total
343,617 1,364,0701250,455 980,578 521.468 510,939
COFFEE on the spot has been quiet and about steady.
Rio No. 7, 63®63%c. and Santos No. 4, 8%®8%c. West
In order that comparison may be made with other years,
India growths have been less active, but nevertheless comparatively steady; fair to good Cucuta 83'®93'2c. The we give below the totals at leading ports for six seasons:
speculation in future contracts has continued on a small
1907.
1906.
1905.
1904.
1903.
scale at a slight decline in prices. The political situation in Receipts at- 1908.
Europe, which has so greatly disturbed other markets, has Galveston _ _ _ 117,217 49,435 147,921 144,310 112,072 98,143
2,402
6,431
275
1,596
582
871
had little apparent effect on coffee. European markets Pt.Arthur,&c.
New Orleans_
48,633
28,616
51,240
38,206
93,387
58,740
13, 01
have eased somewhat,coinciclent with increased receipts at Mobile
11,062
5,110
10,840
12,856
11,907
89,396
76,926
___
71.146
82,866
90,016
69,596
the primary markets,and American prices have sympathized Savannah
11,249
Brunswick_ _ _
12,273
4,648
2,147
4,938
2,819
somewhat. The closing prices were as follows:
10,579
13,989
Charleston,do
13,305
7,429
12,527
12,852
673/0
October
November
December
January
5.55c.
5.50e.
5.50c.
5.400.
February
March
April
May
5.40c.
5.40c.
5.40c.
5.40c.
June
July
August
September
5.40c.
5.40c.
5.40c.
5.40c.
SUGAR,-Raw has been dull at easier quotations, centrifugal, 96-degrees test, falling to 3.92c.; muscovado, 89'degrees test, to'3.42c., with molasses, 89-degrees test, about
3.20c. Refined has been quiet at a decline to 4.90c. for
granulated. Wool has been increasingly active, the demand taking in practically all grades, with the buying by
French combers something of a feature. The sales for the
week are estimated at something like 9,000,000 pounds.
Prices have been very firm. Hops have been quiet and
without feature of interest.
PETROLEUM has met with a brisk demand at firm
prices. Refined, barrels, 8.50e.; bulk 5c. and cases 10.90c.
Gasoline has been steady; 86-degrees, in 100-gallon drums,
19c.; drums $8 50 extra. Naphtha has sold to a fair extent
at steady quotations; 73 to 76-degrees, in 100-gallon drums,
16c.• drums $8 50 extra. Spirits of turpentine has dropped
with a moderate business. Rosin has ruled at
to 383c.,
'
$2.80 for strained.
TOBACCO has been generally quiet, manufacturers as a
rule preferring to buy from hand to mouth. At the same
time, however, prices have been pretty well sustained.
The Sumatra withdrawals are steady. Some recent advance
is reported in prime Wisconsin. Sales are said to have been
made at 11 to ,12c. Cnban leaf has met with a pretty good
demand at firm prices. The feeling in the trade is hopeful.
COPPER has been quiet at 13c. for Lake and 1334c.
for electrolytic. Lead has been dull and weak at 4.4*i®
4.47Mc. in car lots. Spelter has continued quiet, with
current quotations 4.723®4.77%c. in car lots.on the spot.
Tin has been somewhat irregular of late, spot and near-by
deliveries evidently being somewhat weaker, while distant
futures have been firmer with the London market stronger.
Spot October and November deliveries have latterly ruled
at about 2934c., December 293 to 293
4c. Iron has shown
more activity at the South, notably in Alabama; but sales
here are relatively small, with No. 1 Northern $16 50®
$17 25 and No. 2 Southern $16 75®$17 25.
Wilming'n,Fcc
Norfolk
N'port N., doe
All others_ _
25,454
21,716
286
2,784
Total this wk_
343,617
Since Sept. 1_ 1,364,070
37,600
19,116
193
970
21,595
22,795
163
708
21,236
36,432
103
774
21,764
34,277
106
1,291
21,464
21,120
368
5,117
250,455
345,062
344,925
384.830
302,997
980,578 1,332,075 1.613,384 1.857.252 1,256,349
The exports for the week ending this evening reach a total
of 173,312 bales, of which 88,348 were to Great Britain,
29,369 to France and 55,595 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1908.
Week ending Oct. 9 1908.
Exported toExports
from-
Great
Great
I ContiContiBritain.iFence nent. Total. Britain. France. sent.
Galveston __ _
Port Arthur_
Corp.Chris.,&c.
New Orleans
Mobile
Pensacola
Fernandina
Savannah
Brunswick
Charleston
Norfolk
Wilmington.Newport News
New York__
Boston
Baltimore __
Philadelphia
Portland, Me_ _
San Francisco _
Seattle
Tacoma
Portland, Ore.
Pembina
Detroit
Total
Total 1007._
Prom Sept. 1 1908 to Oct.9 1908.
Exported to-
62,597 14,179
7,357
4,2551 81,031
8,200 15,557
4,852, 20.245i 25,097
12,451
_ ___ 13,364 25,81
4,555 2,981
5,045
2,000 -1,700
6,80 14,343
2,074 7,11 t
601 2,601
1,700
50
.
3
-
50
174,422 75,71
Total.
155,679
405,819
61
14,68' 17,019 35,428
7,932 •
3,40
913
1,828
7,975
51
67,136
11,650
9,803
17,61 26,193 100,890 144,698
6,042
16,567
22,609
10,000
10,000
25,926
72,740
46,814
3,601
3,600
31,658
30,279
3.00'
4,500
5,5
1
41,158
2,430
8,460
1,210
78,415
32,709
11,560
5,710
400
400
100
100
I
88,34829,3691 55.595 173,312 316,964 132,561 427,475 877,000
.
-74,462 4,976, 67,875 147,313 279,949. 76,904 268,097 624,950
1
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared at the ports named. We add similar figures for
New York.
[VOL. LXXXVII.
THE CHRONICLE
954
On Shipboard, Not Cleared.for--
Leaving
GerOther CoastGreat
Stock.
October I) at- Britain. France many. Foreign wise. Total.
------------------57,453
225 35,352
New Orlean9- 15,806 2,728 4,618 11,975
19,803
Galveston ____ 18,033 19,884 20,609 18,478 4,035 81,039
19,143 116,027
3,618 2,914 9,498 3,113
Savannah ____
3,000
24,969
--- Charleston_ -__
22,090
3,200 15,850
____
Mobile
7;9
54
68
3
16
12,000 12,000
Norfolk
5,200
500 1,200
2,000
____
New York-.
19,943
__ 27,000
___ 12,000
Other ports_ _ _ 15,000
-----------Total 1908_ 57,657 27,926 55,475 35,066 22,460 198,584 322,884
Total 1907_ 49,183 4,609 39,954 26,292 30,164 150,292 360,647
Total 1906_ 69,946 18,146 60,083 43,860 26,188 218,223 357,856
FUTURES.-The highest. lowest and closing prices at
New York the past week have been as follows:
144
.
4
44
00
3.66
3-,ioo 1-A56 iiiii
t2 I .1 I cl I
ao 06 00 co
I @)I @I
e1 @I @
oo 00
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1:.;
0-0'- C4 CC no
: Cut"I'00I
T
CO
0000'.
,
00
1,66
,
L
't40
00
4404
@I
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@
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0500
4 00
t
,
44
44
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44
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gg
44
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ao
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-.6
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e ei ei el el @I
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II °c1 II c°I °°I II
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.
1 I
e
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@I
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04
II II
coo;
44
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05003
eI ®I
0000
II II
I 1
II
Speculation in cotton for future delivery has been quiet
0 lq 00AA101
0000 A
0-1, I I n I I4!
0
II
6
I
and prices show a net loss for the week. At one time they
-,
,,,So
0
4
4
44
444WO
rallied, owing to covering of shorts and pretty good buying,
@I @I
@I 1.1 @I
gl 40
®I @I ®l
@I
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especially of December by spot interests, while some decrease
Ch
NC
.-.00 '''. "
1 44
,
=6
s
00 0500
0
0100
in the receipts also had more or less effect. Also, the Southlq
0 C) 'VI
44
44 44
44
44
44
IW
ern selling against actual cotton let up a little for a time
11
IW
1 I
-WO
.N
NO'
"V.I.
and there were hopes that the Lancashire strike might be
1
1
?1, 1
I I
l'4 41 I I ,,,
I 17.1. '':N
!
.X
00
0600
4 004 06
0000
0600
settled at a conference held on Wednesday. This hope was
.0000
doomed to disappointment and prices on Thursday reflected
@I (?)I @I @I
@I @I @I @I @I
@I @IA @I
05,
CW
CO
.. h.l.
Ceki
non
this in some decline. The demand to cover also fell off and
00 '
1"
DJ': .
ril
-0. ..
'.."<!
10000co oo o6
44
..6
speculation became, if anything, duller than ever. This
I"'
c°°° I I I I
I
I
latter circumstance, the slowness of speculation, is something
oc, AI ,:.1. .c.,
nac I 1 1,1.
05
I 1 n
I i ‹'00000505
t'0-N.'
ii II
csn
n
which undoubtedly has a more or less depressing effect.
01,.'
44
0,O 400 44
4 00 00
44
4
Some crop estimates have been in circulation of compara- ao
:-.4..; .
el @I t.'00
®I @I el el @I
@I @I0 @In "In
el @Ih 4
tively moderate size, and this fact and the idea that the'4
.
,
0505o
.
o
-to
.01
t": 4 ./.4 0
short interest has reached pretty large proportions has been
E-4:--46
04
100 44 44 I "c .6co I I 44 11 l'" I I I I
dwelt upon with some emphasis, as also the fact that prices
0 14 ,
.1,.. WI. C4
I I 1-;g 11 01:'
IA 4r
40 IM
"04
are so much cheaper than they were a year ago. But on
44
400
.
4 44
44 44 44 44
the other hand the cotton trade improves but slowly.
500
@1
@I
@I
@I
'Ia
CDI
@I
@I (DI
)1
®I ®I
@,
English spinners as well as many in this country are appar0
4
4=
"ft
4T1, 0= 00 0-1-0 CC
N 9M
Y: 40 N.
ently buying raw cotton only from hand to mouth, and the
ICI M
{
N CI
1".°. 4,
'
44
44
44 44 44 44
weather has been good for maturing, picking and marketing
II °°°° °°I ll
I I
I W
Tr. I IN.
MO
.1. 4
the crop. The quantity, too, brought into sight weekly is
I I 1 7.
,,
...•,7,,
-;
I
1'.
,...
CO
large. The exports are liberal, mainly to the Continent, but
44
00 00 06 06 co oo oo 4 44
this alone against so many adverse factors has not had much
•
@I
positive influence. Liverpool and New Orleans peoplehave
gc.,.. rl t„,„ ,: ,l
c; "
bought here to some extent of late and the firmness of Decemci3O 1 0° 00 0. Iv .0 II c'd'c° 11 ;
II II
I
ber was at one time a noticeable feature. The consensus of
be be 04 be be 04 cm cm be 04 be
um
to.E1 to.5, bo.5. bog bog '
bk.E.1 be. ba.5.1
opinion seems to be, however, that only temporary upturns
,1812
181P41281,18081181g8
1.981Vi8IgOlg81 1
of prices need be expected until trade conditions have greatly
t•gC5 •ZE.1
and permanently unproved. The crop is believed by very
0
•
many to be ample,or more than ample,to meet all requirements. The various guesses range from 12,500.000 to
VISIBLE
THE
corroN
to-night,
as made
SUPPLY OF
13,500,000 bales. It is recognized, however, that estimates
previous to general killing frost may fairly be received with up by cable and telegraph, is as follows. Foreign stocks,
this
to
as
week's
well
returns,
and consethose afloat, are
caution. Meantime spot quotations at the South continue as
at a premium over futures, and this prevents any increase in quently all foreign figures are brought down to Thursday
the
total
to
evening.
the
But'
complete figures
make
the stock here. To-day pricesfell, especially on May,which
shows the greatest net decline for the week,owing to pressure for to-night (Friday), we add the item of exports from
the
it
exports
of Friday
in
including
the
States,
United
to sell by large spot interests against the liberal purchases
of the actual cotton at the South. War rumors from Europe only.
1007.
1006.
1008.
1005.
October 9also had a depressing effect. There were reports, too, that
bales 274,000 541,000 212,000 653,000
at Liverpool
the spot markets of the South showed a weakening tendency. Stock
14,000
27,000
12,000
28,000
Stock at London
42,000
22,000
28,000
36,000
The weather was somewhat unfavorable in parts of the Stock at Manchester
eastern section of the belt, rains being heavy in Alabama,
312,000 610,000 248,000 717,000
Total Great Britain stock
17,000
18,000
22,000
20,000
Georgia and North Carolina and light frosts occurred in Stock at Hamburg
68,000
36,000
80,000
162,000
Stock at Bremen
Oklahoma and Arkansas. But the political complications Stock
37,000
93,000
37,000
56,000
at Havre
4,000
4,000
4,000
3,000
abroad and the pressure on the May option were the decisive Stock at Marseilles
15,000
13,000
5,000
7,000
at Barcelona
factors. Spot cotton during the week has been rather Stock
12,000
10,000
15,000
14,000
Genoa
Stock at
10,000
34,000
6,000
quiet. Middling uplands on Friday was 9c., showing a Stock at Trieste
3,000
---- decline for the week of 25.points.
187,000 249,000
125,000 262,000
Total Continental stocks
The rates on and off middling, as established Sept. 9 1908
499,000 850,000 373,000 970,000
Total European stocks
by the Revision Committee, at which grades other than India cotton afloat for Europe_
50,000
80,000
54,000
76,000
American cotton afloat for Europe 667,140 367,200 520,894 475,000
middling may be delivered on contract, are as follows:
Egypt,Brazil,&c.,afloat for Europe 27,000
22,000
41,000
36,000
44
®I @I @I. ., @I @I
1 ®I ®I ®I ®l 0.
@,1,:
c_1.75 on
Fair
Strict mid. fair_ -1.50 on
1.25 on
Middling fair
Strict good mid _ _ _0.75 on
Good middling_ _ _ _0.50 on
Strict middling___ _0.25 on
Basis
c
Middling
Strict low mid
0.30 off
Low middirng
_1.00 off
Strict good ord _ _1.62 off
Good ordinary
_2.56 oft
Strict it'd mid.tgd_0.35 on
Good mid. ting'd c_ Even
Strict mid.tinged-0.20 off
Middling tinged .0.30 off
Strictlow mid. ting.1.00 off
Low mid.tinged _ _2.25 off
Middling stained _1.00 off
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
Oct. 3 to Oct. 9Middling uplands
Sat.
0.15
Mon. Tues.
9.05
9.05
Wed. Thurs.
9.05
0.15
Fri.
9.00
NEW YORK QUOTATIONS FOR 32 YEARS.
1908_0
1907
1906
1905
1904
1903
1902
1001
9.00
11.85
10.90
10.10
10.45
9.60
8.85
8.38
1900_c
1899
1898
1897
1896
1895
1894
1893
11.00
7.31
5.44
6.50
7.94
9.19
6.19
8.38
1892.c
1891
1890
1889
1888
1887
1886
1885
8.19
8.75
10.38
10.62
0.88
9.44
9.38
9.81
1884.c
1883
1882
1881
1880
1879
1878
1877
10.00
10.75
11.38
11.69
11.31
10.50
10.31
11.50
MARKET AND SALES AT NEW YORK.
The total sales of cotton on the spot each day during the
week at New York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
on same days.
Spot Market
Closed.
Saturday_ _
Monday__ _
Tuesday __
Wednesday
Thursday _
Friday_- -
Futures
Market
Closed.
Quiet, 10 pts. dec._ Barely steady
Quiet, 10 pts. dec... Barely steady
Quiet
Steady
Quiet, 10 pts. adv.. Steady
Quiet, 10 pts. dec. Steady
Quiet, 5 pts. dec
Barely steady
Total
Sales of Spot and Contract.
Con- ConExport sum'n. tract.
50
_
400
Total.
450
1,317
250
135
1,317
250
135
0,000 1,752
400 2,152
Stock In Alexandria, Egypt
Stock In Bombay,India
Stock in U.S. ports
Stock in U. S.Interior towns
U. S. exports to-day
64,000
217,000
521,468
368,156
54,117
61,000
361,000
510,939
237,088
64,786
65,000
439,000
576,079
228,538
40,908
58,000
433,000
909,675
345,950
12,783
2,467,881 2,585,013 2,342,419 2,311,408
Total visible supply
Of the above, totals of American and other descriptions are as follows:
Americanbales. 169.000 445,000 144,000 573.000
Liverpool stock
34,000
19,000
20,000
35,000
Manchester stock
68,000 225,000
124,000
152,000
Continental stock
667,140 367,200 529,894 475,000
American afloat for Europe
521,468
510,039 576,079 909,675
U.S. port stocks
228,538 345.950
368,156
237,988
U.S. Interior stocks
12,783
40,908
54,117
84,786
U.S.exports to-day
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stocks
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
1,923,881 1,812,913 1.606,410 2.575.408
80,000
68,000
06,000.
105,000
28,000
14,000
10,000
27,000
2,000
3,000
7,000
8,000
37,000
57,000
97,000
63,000
76,000
54,000
80,000
50,000
22,_00_11
36,000
41,000
27,000
58,000
65,000
64,000
64,000
217,000 361,000 439,000 433,000
-----544,000 773,000 736,000 736,000
Total East India, &c
.t,923,881 1,812,913 1,606,419 2,575,408
Total American
---- --.
,8
!40
8d
2,467,881 2,585,913 2,342,419 3,311.4
Total visible supply
6.45d.
5.32d.
6.52d.
4.96d.
Nliddling Upland, Liverpool
11.20e.
10.10c.
11.75c.
9.00c.
Middling Upland, New York
6d:
.140
91014d. 10 8
8%d.
Egypt, Good Brown, Liverpool_ _
9.15d.
12.00d.
8.30d.
Peruvian. Rough Good, Liverpool
5%d.
5Nid•
4 13-16d. 5 15-16d.
Broach, Fine, Liverpool
33d.
Tinnevelly, Good, Liverpool_ _ .... 4 11-16d. 50-16(1.5 9-16d.
Continental imports for the past week have been 51,006
bales.
The above figures for 1908 show an increase over last
week of 300,582 bales, a loss of 118,032 bales from 1907.
a gain of 125,462 bales owl' 1906, and a loss of
843,527 bales from 1905.
THE CHRONICLE
10190Sd
955
QUOTATIONS FOR MIDDLING COTTON AT OTHER
AT THE INTERIOR TOWNS the movement-that is
the receipts for the week and since Sept. 1, the shipments MARKETS.-Below arc the closing quotations of middling
cotton at Southern and other principal cotton markets for
for the week and the stocks to-night, and the same items each day of the week.
for the corresponding period for the previous year-is set
Closing Quotations for Middling Cotton onout in detail below.
Week ending
„?.,:noz5./1,00,9g.)cizgs”.?.›,t-ixwktil
October 9.
Sat'day. Monday. Tuesday. Wed'day. Thursd'y. Friday •
',7•Xt=c1011,
- agan5
g2:406Walriaiia-g!5.514
Galveston
9
90%
9
9
9
•
9
New Orleans_ _ _ 8 15-16 8'%
8 13-16 8 13-16 8 13-16
8',-f
'F.FT1g=-1514
°ggi14- 1.gPg IV.7
Mobile
80%
80%
•
8%
8/
811-16 86%
" ? 8 13-16 8 9-16
Savannah
8%
8%
80%
86%
8 .2- '
143
8 11-16 80%
Charleston
Wilmington_ - - A orfolk
Boston
Baltimore
Philadelphia
Augusta__ _ _-- _
Memphis
St. Louis
Houston •
Little Rock
'
z
g.5.9=8
--•
KEz
nP•
n,
00
0000,_ '-'09
.......
a
r,
P,
..N
C
00
W.
. ....
.
.N.W...N.W.. Q
.0000000.'.N001y
C.W.
.1N.NCW.N01.4..4.140.4. 04,
.WWWWC1414*,1-C1,31
,
10-NC..4007
-0
.0001 5
-....00.00.909540-0000.00040-'.A0.
r........................
.
.....
W
CI
N
0
N
.NN.
NWN.40W..W0..1.
1.1. -0"0.1.'oucacW.c.A:A-Ozzz.c."0:z."o"0,
C.A.0.000.4.00,.71W.1400.0..0
,
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.
4 .
^.1 0
• •
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CO
W
4,..
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CO
. .
.
.4.0oN..,...3000.1N 000.441.0 WOWNOCW,D.W.A.WW
1
.
a.
400WWW
40-C.C.4.4.0.WW-40C00......
-. 0,
00000
W00004NOW.
00000000c.400.4004N0.4000...
4
.
0WW C.0.4
.
0 0.0W0014000.0WCWCC04
.
•--
.
.0
014
11./-
N
NW
.414
2
tfla/F.08g=agtEtagg=g&STInttng=tel
0
00
00
W
NC.N
INA.,-OPW
.
0-'9N0. . .A. CO . 000+
.,
W...
,1g3
T
.a;k
.bc i W ta-N.90144/,0P.c.., 0.,..1 ..,10. e,.,1::,,, L.,,,01,..4 .
0A.000,00“5900, 00-044.00090:00004.00059-.1059, 0000000,0000 ‘-. Ca
c.:Neoz,
:ocacazsoo.c..ecovien, --locom000 • •
Aforement to October 11
.
N
.w.. ..4(909,_,0,,9 „1
-0.0:-.0-00.N.C.,11140 00...7.1.0-04.-01.170,0
-410,1000000000.0000WW0000C,P.0.400= 4,4.004 ol
ICNN.00amoNol •
.
00W 000N
.
...110.000WW.I.WW0004
.
.IANNWNA.W.W
.
00
.09
000900N00000O.1900O
04, 00J090000
-C -OD -W
••
I•
80%
834
8'%
9.05
9
9.30
8 11-16
80%
9
9 .
86%
80%
8%
8%
9.05
9
9.40
8 13-16
80%
9
9 1-16
834
834
8%
80%
9.15
9
9.30
80%
80%
9
9 1-26
834
834
80%
80%
9.05
9
9.25
80%
80%
a
9
834
• 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:
•f106I 6 240100 01 Mausaaolv
N
W
.04000000 WW
W ...IWNNW.0 W
1.4.41....10N00
,
104.
-0.4 . CON.
*WO-WA-W.
W;
,
C0140
,
400
- .
-WC0
- 0
- .0
0
- -
834
80%
9.15
90%
9.30
80%
80%
9
9
844
8%
9
9.25
90%
9.40
80%
80%
90%
934
80%
Sardag, Monday, Tuesday, Wed'day, Thursd'y, Friday,
Oct. 6.
Oct. 7.
Oct. 5.
Oct. 8.
0c,. 3.
Oct. 9.
OctoberRange
Closing
N oremberRange
Closing
December-Range
Closing
JanuaryRange
Closing
FebruaryRange
Closing
MarchRange
Closing
AprilRange
Closing
MayRange
Closing
ToneSpot
Options
8.58-.64 8.48-.58 8.49-.59 8.60-.69 8.58-.63 8.60-.70
8.63 - 8.48-.49 8.60 - 8.68-.70 8.67-.69 8.58-.60
8.46 -- ® .30
-8.42-.44 8.27-.29 8.41-.43 8.53-.56 8.51-.54 8.40-.42
8.43-.48 8.28-.38 8.27-.43 8.39-.50 8.35-.47 8.35-.50
8.44-.45 8.29-.30 8.42-.43 8.48-.49 8.46-.47 8.35-.36
8.41-.48 8.27-.35 8.26-.40 8.38-.47 8.32-.41 8.30-.43
8.43-.44 8.27-.28 8.40-.41 8.46-.47 8.40-Al 8.30-.31
- ® -- ® -- ® --- ® 8.41,43 Xi 25-.27 8.37-.39 8.43-.47
QP
Q0 -8.37-.40 8.27-.30
8.44-.52 8.28-.38 8.25,40 8.37-.45 8.30-.40 8.$0-.41
8.44-.46 8.28-.29 8.39,40 8.45-.46 8.39-.40 8.29-.30
®
-
®
-
- ®
- - 8.48-.50
--®- 8.45 -
Steady. Easy.
Steady. Steady. Easier. Steady.
Steady. Steady. Steady. Steady. Steady. Steady.
WEATHER REPORTS BY TELEGRAPH.-Our telegraphic advices from the South this evening denote that
quite generally the weather has favored the gathering of
004
C.10.0000000000000 00005904.000000,-'0059,
• 0000
.UNAW C0
'
116
•no.01 co,
00I05900014.4.00059014.40000004
,
0000000.059c
cotton during the week. Over much of the belt dry weather
00 00000000.0000005900.00000000000959000000o,00000
has prevailed, and where rain has fallen, mainly in some
The above totals show that the interior stocks have in- Atlantic sections, the precipitation has on the whole been
creased during the week 82,607 bales and are to-night 130,168 moderate or light. Picking has, therefore, made excellent
bales more than at the same time last year. The receipts progress, and the marketing of the crop is on a liberal scale,
although there is further evidence of a tendency to hold for
at all the towns have been 103,467 bales more than the same higher prices.
week last year.
Galveston, Texas.-Dry all the week. Average thermomOVERLAND MOVEMENT FOR THE WEEK AND eter 70, highest 80, lowest 59. September rainfall 13.71
SINCE SEPT. 1.-We give below a statement showing inches. Abilene, Texas.-We have had rain on two days of the
the overland movement for the week and since Sept. 1, as
made up from telegraphic reports Friday night. The week, the rainfall being one inch and thirty-nine hundredths.
results for the week and since Sept. 1 in the last two years The thermometer has averaged 65 the highest being 86 and
' inches.
the lowest 44. Month's rainfall 2.49
are as follows:
Brenham, Texas.-There has been no rain the past week.
-----1908-----1907--October 9Since
Since The thermometer has ranged from 51 to 85, averaging 68.
ShippedWeek. Sept. 1.
Week. Sept. 1.
September rainfall 5.60 inches.
4,259
Via St. Louis
5,985
16,910
11,491 '
Dallas, Texas.-We have had rain on two days of the week,
3,204
5,098
Via Cairo
3,996
11,036
69
55
Via Rock Island
234 the rainfall being thirteen hundredths of an inch. The
675
1,682
Via Louisville
5,239
5,574
565
1,948
633
Via Cincinnati
1,907 thermometer has averaged 66, the highest being 87 and the
3,563
2,067
683
1,842 lowest 44. Month's rainfall 1.88 inches.
i Via Virginia points ..,.
3,628
1,318
Via other routes, &c
958
5,271
5,806
Corpus Christi, Texas.-There has been rain on one day
--- ---19,067
29,980 during the week, the precipitation being four hundredths of
Total gross overland
10,357
47,192
shipmen
s
Deduct
an inch. Average thermometer 73, highest 86, lowest 60.
1,712
Overland to N. Y.. Boston, &c__ _ 1,716
501
3,366
1,924
. 2,584
449 Month's rainfall 2.42 inches.
Between interior towns
102
311
South
9,046
4,464
1,848
Inland, &c., from
Cuero, Texas.-There has been no rain during the week.
3,951
11,207 The thermometer has averaged 73, the highest being 94 and
Total to be deducted
10,414
2,541
the lowest 52. September rainfall 4 inches.
15,116
18,773
Leaving total net overland *
36,778
7,816
Fort Worth, Texas.-It has rained on two days during the
* Including movement by rail to Canada.
week, the rainfall being ten hundredths of an inch. The
The foregoing shows the week's net overland movement thermometer has averaged 63, ranging from 46 to 82.
has been 15,116 bales, against 7,816 - bales for the week Month's rainfall 3.42 inches.
Henrietta. Texas.-Rain has fallen on two days during the
last year, and that for the season to date the aggregate
net overland exhibits an increase over a year ago of 18,005 week, the rainfall being twenty hundredths of an inch. The
thermometer has ranged from 39 to 84, averaging 62. Sepbales.
----1908--- ---1907----- tember rainfall 3.82 Inches.
S nee
In Sight and Spinners'
Since
Huntsville, Texas.-It has been dry all the week. Average
Takings.
Week. Sept. 1.
Week. Sept. 1. thermometer 66, highest 84, lowest 45. Month's rainfall
343,617 1,364,070 250,455
980,578
Receipts at ports to Oct. 9
15,116
18,773 1.08 inches.
36,778
7,816
Net overland to Oct. 9
41,000
287,000
221,000
49,000
Kerrville, Texas.-There has been rain on one day during
Southern consumption to Oct. 9_ _
precipitation being sixty-three hundredths of
399,733 1,621,848. 307,271 1,286,351 the week, the
Total marketed
82,607
63,069
157,405 an inch. The thermometer has averaged 65, the highest
252,961
Interior stocks In excess
------being 85 and the lowest 44. September rainfall 1.96 inches.
482,340
370,340
Came Into sight during week
Lampasas, Texas.-There has been rain on one day during
1,443,756
Total in sight Oct. 9
1,874,809
the week, to the extent of one inch and fifty hundredths.
38,324 2,138,765
175,158
North. spinners' takings to Oct. 0-- 50,860
The thermometer has averaged 67, ranging from 46 to 87.
Month's rainfall 4 85 inches.
Movement into sight in previous years:
Longview. Texas.---There has been rain on one day of the
Since Sept. 1Bales.
WeekBales.
435,549 1906-Oct. 12
1,780,696 past week, the rainfall being ten hundredths of an inch. The
1906-Oct. 12
450,71111905-Oct. 13
2,145,716 thermometer has ranged from 45 to 85, averaging 65. Sep1905-Oct. 13
510,129 1904-Oct. 14
2,403,295
1904-Oct. 14
•
390,749 1903-Oct. 10
1,677,519 tAnber rainfall 3.57 inches.,
1003-Oct. 16
CA
.1
00000000011.+1
.N59000
5900000400.0040400
i
0
New Orleans, Louisiana.-There has been no rain during
the week. The thermometer has averaged 70, the highest
being 82 and the lowest 57. September rainfal110.70 inches.
Shreveport, Louisiana.-We have had a trace of rain on
one day of the week. The thermometer has averaged 65,
ranging from 46 to 80.
Columbus, Mississippi.-Dry all the week. The thermometer has ranged from 54 to 85, averaging 63.
Ardmore, Oklahoma.-We have had no rain the past week.
The thermometer has ranged from 38 to 84, averaging 61.
Holdenville, Oklahoma.-Dry all the week. Average
thermometer 60, highest 80, lowest 38.
Marlow, Oklahoma.-It has been dry the past week. The
thermometer has averaged 61,the highest 82 and lowest 40.
Oklahoma, Oklahoma.-There has been no rain during
the week. The thermometer has averaged 60, ranging
from 40 to 79. Month's rainfall 4.37 inches.
Helena, Arkansas.-Labor is plentiful, picking is going
on well and cotton is coming in rapidly. We have had no
rain the past week. The thermometer has averaged 61,
the highest being 79 and the lowest 44. Month's rainfall
0.64 inch.
Little Rock, Arkansas.-Dry all the week. The thermometer has averaged 63, ranging from 48 to 78. September rainfall 3.27 inches.
• Memphis, Tennessee.-There has been no rain during
the week. The thermometer has ranged from 47 to 79,.
averaging 63. Month's rainfall 1.49 inches.
Nashville, Tennessee.-There has been no rain during the
week. Average thermometer 60, highest 80, lowest 40.
September rainfall 1.89 inches.
Mobile, Alabama.-Fine weather in the interior and
cotton picking made good progress until yesterday, when
there were heavy rains. We have had no rain here during
the week. The thermometer has averaged 79, the highest
being 83 and the lowest 54. September rainfall 7.32 inches.
Montgomery, Alabama.-Perfect weather for gathering
crop. Receipts hed.vy, out !mien cotton being held. There
has been rain on one day of the past week, the rainfall being
fifty-two hundredths of an inch. The thermometer has
averaged 64, ranging from 46 to 82.
Selma, Alabama.-Rain has fallen on two days of the
week, to the extent of one inch. The thermometer has
ranged from 48 to 84, averaging 62.
• Meridian, Mississippi.-We have had rain on one day
of the past week, the rainfall being thirty-four hundredths
of an inch. The thermometer has averaged 64, the highest
being 82 and the lowest 45.
Vicksburg, Mississippi.-Rain has fallen on one day of
the week to an inappreciable extent. The thermometer
has averaged 65, ranging from 47 to 82.
Madison, Florida.-We have had rain on one day during
the week, to the extent of forty-three hundredths of an inch.
The thermometer has averaged 68, ranging from 51 to 84.
Augusta, Georgia.-We have had rain on one day during
the week, the rainfall reaching eighty-three hundredths of
an inch. The thermometer has averaged 62, the highest
being 79 and the lowest 45.
Savannah, Georgia.-The week's rainfall has been seventynine hundredths of an inch, on one day. The thermometer
has averaged 66, ranging from 54 to 78. Month's rainfall
9.05 inches.
Charleston, South Carolina.-We have had rain on one day
of the week, the precipitation being forty-five hundredths of
an inch. The thermometer has averaged 65, ranging from
52 to 77.
Greenwood, South Carolina.-Rain has fallen on one day
of the week. The rainfall reached fifty-eight hundredths of
an inch. Average thermometer 60, highest 77, lowest 40.
Charlotte, North Carolina.-There has been rain on two
days of the past week, the rainfall reaching one inch and
thirteen hundredths. The thermometer has averaged
59, ranging from 41 to 73.
INDIA COTTON MOVEMENT FROM ALL PORTS.
1908.
October 8.
Receipts atBombay
[V oL. Lxxxvix.
THE CHRONICLE
956
7,000
I
1007.
Since
Week. Sept. 1.
1906.
Since I
Since
Week. Sept. 1. Week. Sept. 1.
5,000
29,000
For the Week.
44,000
6,000
26,000
Since September 1.
Exports from
Great ContiBritain. nent.
Bombay1908
1007
'1906
Calcutta1908
1907
1906
Madras1008
1007
1906
All others1908
1907
1906
Total all1908
1907
1906
Total.
0,000 9,000
3,000 3,000
11,000 11,000
Great
Britain.
Continent.
Total.
38,000
60,000
55,000
38,000
69,000
56,000
1,000
1,000
4,000
5,000
3,000
5,000
6,000
3,000
1,000
5,000
3,000
3,000
6,000
3,000
3,000
1,000
1,000
4,000
3,000
2,000
2,000
3,000
1.000
30,000
15,000
19,000
32.000
18,000
20,000
13,000 13,000
6,000 6,000
14,000 14,000
4,000
4,000
2,000
77,000
92,000
80,000
81,000
96,000
82,000
4,000
3,000
2,000
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season
1907.
1908.
Week.
Season.
Week.
Season.
V isible supply Oct. 2
2,167,299
V isible supply Sept. 1
1,714,082"83
'
934 2,201,844
American in sight to Oct. 9___ _ 482,340 1,874,809 370,340 1,443,756
Born bay receipts to Oct. 8
7,000
44,000
5,000
29,000
Other India ship'ts to Oct. 8_
4,000
27,000
43,000
3,000
Alexandria, receipts to Oct. 7_ _
14,000
85,000
20,000
37,000
Other supply to Oct. 7 •
9,000
38,000
23,000
8,000
------Total supply
2,683,639 3,713,791 2,807,274 600
- 7
3
,9
-- 9
DeductVisible supply Oct. 9
2,467,881 2,467,881 2,585,913 2,585,913
Total takings to Oct. 0
Of which American
Of which other
215,758 1,245,910
156,758
927,910
50,000
318,000
221,361 1,343,687
966,687
184,361
377,000
37,000
* Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
ALEXANDRIA RECEIPTS AND - SHIPMENTS.
Alexandria, Egypt,
October 7.
Receipts (cantars)This week
Since Sept. 1
1908.
1007.
110,000
218,544
280,000
640,707
1006.
270,000
560,199
I
•
This Since
TM, Since
This Since
week. Sept. 1. Week. Sept. 1. week. Sept. 1.
-.2,000 5,226 5,000 15,636 6,750 16,671
1,500 3,000 5,500 10,586 4,000 8,750
5,500 18,009 6,750 17,649 7,750 18,860
600 1,298
800 1,650
200 1,098
Export (bales)To Liverpool
To Manchester
To Continent
To America
Total exports
,600 28,433 18,0501 45,521 18,700 45,370
MANCHESTER MARKET.-Our report received by
cable to-night from Manchester states that the market is
firm for yarns and quiet for shirtings. Merchants are
buying very sparingly. We give the prices for to-day
below and leave those for previous weeks of this and last
year for comparison.
1008.
32s Cap
(1.
Aug.
28
Sep.
4 7%
11 715-160
0
18 8
25 sg
Oct.
4
2 gq1-160
1907.
85,1 lbs. Shill- Cot'n
ings, common Mid.
to lines:.
Upl's
1. d.
4 9
s. d.
@710
32s Cop
Tw141.
8% tbs. Shirt- Cots
ing& common Mi'd.
to finest.
Upt's
d. d.
d. . d.
5.25 11
0 12% 6 8
s. d.
d.
@105
7.49
@105
(a 10 4
(k103
@102
7.51
7.10
6.91
6.60
5 1%08 4% 5.13110% 0 11% 6 + @10 1
5 13.8 4% 4.9610 9-160 11% 6 4
1100
6.53
6.52
4
4
4
5
9 07
10 b.8
10%08
1 08
10%
0
154
4%
5.25 11% 0 12% 6
5.47 10% 00 12% 6
5.54 10,4 tit, 12., 6
5.3310 11-160 12% 6
8
7
6
5
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 173,312 bales. The shipments in detail, as made
up from mail and telegraphic returns, are af sollows:
Total bales.
NEW YORK-To Liverpool-Oct. 7-Cedric, 2,884 upland, 171
Sea Island
3,055
To Manchester-Oct.2-Terence,300
300
To London-Oct.2-Minnetonka, 1,000
1,000
To Glasgow-Oct. 2-Furnessia, 100
100
To Hull-Oct. 7-Idaho, 100
100
To Havre-Oct. 3-Chicago, 2,635 upland, 21 Sea Island, 25
foreign_ _ _ _Oct. 5-Windermere,300
2,981
To Bremen-Oct. 7-Pr1nz Friedrich Wilhelm, 400
400
To Hamburg-Oct. 2-Waldersee, 100
100
To Antwerp-Oct. 2-Vaderland, 200
200
2,150
Calvo,
To Barcelona-Oct. 5-Manuel
2,150
To Genoa-Oct.7-Moltke,2,657; Sanino,800
3,457
To Naples-Oct. 7-Sannio, 500
500
GALVESTON-To Liverpool-Oct. 2-Civilian, 20,653____Oct. 5
-Belgian, 8,727_ _ _ _Oct. 8-Irada, 14,750; Politician,
18,467
82,597
To Havre-Oct. 3-Commodore, 14,179
14179
To Hamburg Oct. 6-Bavaria,1,605
1,605
To Antwerp-Oct. 7-Soutra, 2,560
2,560
NEW ORLEANS-To Havre-Oct. 9-St. Laurent, 4,900
4,000
To Dunkirk-Oct. 5-Birchtor, 2,457
2,457
To Bremen-Oct. 5-Buchtor, 100____Oct. 0-Crown Prince,
2,750
_
_
_ - __ -2,850
To Antwerp-Oct. 9-Crown Prince, 80
50
To Genoa-Oct. 8-Soperga, 5,300
5,300
SAVANNAH-To Havre-Oct. 3-Dundas, 4,852
4,852
To Bremen-Oct. 3-Cayo Soto, 4,575; Cunaxa, 5,420
9,995
To Gothenbur -Oct. 3-Cayo Soto, 600; Dundas, 100
700
To St. Petersburg-Oct. 3-Cayo Soto, 250
250
8,350
To Barcelona-Oct. 8-Ag ello Ciampa, 8,350
050
To Genoa-Oct. 8-Ag el o Ciampa, 950
WILMINGTON-To Liverpool-Oct.3-Battersea Bridge, 12,451_ 12,451
13,364
To Bremen-Oct. 7-Hiliglade, 13,364
BOSTON-To Liverpool-Oct. 5-Ivernia,3,495_..Oct.6-Wini5,045
fredian, 1,540
2,074
To Genoa-Oct. 2-Canopic, 2,074
• 2,000
BALTIMORE-To Liverpool-Oct.2-Q ernmore, 2,000
600
To Antwerp-Oct. 2-Mobile, 600
PHILADELPHIA-To Liverpool-Oct. 2-Merlon. 1,700
1,700
50
SAN FRANCISCO-To Japan-Oct. 8-Korea, 50
Total ----------------------------------------------173,312
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales; stocks, dm. at that port:
Sept. 18.
Sales of the week
bales_ 46,000
Of which speculators took__ 1,000
Of which exporters took__ 1,000
Sales, American
35,000
Actual export
3,000
Forwarded
56,000
Total stock-Estimated
297,000
Of which American-Est.._ _205,000
Total imports of the week
23,000
Of which American
16,000
Amount afloat
66,000
01 which American
53,000
Sept. 25.
25,000
Oct. 2.
25,000
1,000
21,000
2,000
41,000
203,000
192,000
38,000
23,000
1inc2
1,000
24,000
13,000
38,000
260,000
174,000
17,000
14,000
218,000
105,000
•
Oct. 9.
26,000
1,000
1,000
19,000
2,000
40,000
46,000
29,000
274,000
169,000
289,000
265,000.
OCT: 10 1908 j
THE CHRONICLE
957
The tone of the Liverpool market for spots and futures especially as the price is already relatively high. But
each day of the past week and the daily closing prices of on the other hand the receipts have been light at the West.
spot cotton have been as follows:
Elevator interests have been buying December at Chicago,
foreign markets have shown rather more strength, and
Saturday. Monday. Tuesday. Wed'day. Thursday. I Friday.
Spot.
the influence of higher prices for wheat has not been alMarket,
together lost. The Government report of October 7th,
Small
Dull.
12:15
Quiet.
More
Dull and
Quiet.
moreover, did not put the crop quite so high as some had
inquiry.
demand.
easier.
P.M.
expected. The estimate based on that report was 2,615,4.96
4.97
5.02
5.06
5.10
4.99
Mid •Upi'ds
000,000 bushels, against 2,592,320,000 bushels last year.
To-day prices advanced early and then reacted. War
4,000
5,000
5.000
6,000
2,000
3,000
Sales
500
Spec.&exp.
300
300
500
100
200
rumors at first strengthened prices through covering of
shorts and other buying, but the weather was generally
Futures.
Quiet at Quiet at Quiet at Steady at Irreg. at Quiet at
Market 1 607 pts. 203 pts. 3(44 pts. 4046 pts. 2(44 pts. 1©2 pts.
favorable and not a few look for an early movement of
decline.
decline.
J decline.
decline.
opened
advance.
advance.
the crop, which is said to be of unusually good quality..
Crop news during the week has been favorable and very
Market 1 Quiet at Quiet at Steady at Steady at Wly sty at Quiet at
2(43 pts. 43453654 4340534 3401%
4:00
607%
} 708%
little corn is now exposed to injury by frost. Harvestpts. dec. pts. dec.
P.M.
decline. pts. adv. pts. dec. pts. adv.
ing of the crop is in active progress and it is said that the
The prices of futures at Liverpool for each day are given high ruling prices are likely to hasten the movement of
below. Prices are on the basis of upland, good ordinary corn to market unless unfavorable weather later on intervenes.
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Oct. 3
to
Oct. 9
Sat.
Apr.-May
May-June
June-July
July-Aug_
Mon.
I
Tues.
Wed.
Thurs.
Fri.
1231 1214 11251 4 1231 4 1231 4 1231 4 1234 4
p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. p.m. P.m. p.m.
d.
October_ _
Oct.-Nov.
Nov.-Dec.
Dec.-Jan.
Jan.-Feb.
Feb.-Mch.
I
Thus: 4.74 means 4 74-100d.
4
4
4
4
4
4
4
4
4
4
4
d
d.
d.
a. t
d. d.
d. d.
a. d.
74 68 68 67 66 7334 7114 67 66 68 67%
65 59% 58 56 55% 6234 62 5714 5634 58% 57
60% 55 53 51
51 57% 57 52% 51% 5314 5234
60 54% 5214 5014 50% 57 56% 52 51
53 52
59% 5414 52% 50 50 • 5634 56 51% 50% 5234 5114
60 55% 53 50% 50% 57 56% 52 51
53 52
61
56 5334 51
51 57% 57 5234 5134 5354 52%
6134 56% 54 51% 5114 58 57% 53 52 54 53
62 5714 55 52 52 5834 58 54 52% 5434 5334
62 5734 55 52 52 5834 58 54 52% 55 54
6134 57 5434 5134 51% 56% 56 52% 5134 53% 5234
BREADSTUFFS.
NEW YORK.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
Sat. Mon. Tues. Wed. Thurs. Fri.
86
86
Cash corn
8414 843'( 844 8434
76
December delivery In elevator
7634 7534 75 % 7634
72% 723.1 73
May delivery In elevator
7334 73% 733.,
CLOSING
PRICES
OF
CORN FUTURES IN
DAILY
Sat. Mon. Tues. Wed. Thurs. Fri.
6.134 6431 6431 6434 6454 6431
December delivery In elevator
64
6434 6434 6431 6434 6434
May delivery in elevator
6334 6334 63% 63 34 63 31 6334
July delivery In elevator
7831
CHICAGO.
Oats for.future delivery have been quiet as a rule, rather
than otherwise, although the speculative trading a Chicago
has of late increased somewhat, partly in sympathy with
the rise in wheat. Prices for oats, however, have been
in the main sluggish and at times weak, despite the smallness of the receipts. The estimate of the crop, based on
the Government report, was 789,161,000 bushels, against
754,443,000 last year. The hay crop, too, it is of interest
to observe is estimated at 67,743,000 tons, against 63,677,000 tons last year. Evidently, then, there is to be no,
dearth of oats, and the belief is that only exceptional circumstances can bring about a marked and substantial
advance.
To-day prices advanced slightly and then reacted,following the movement of other grain. The receipts are moderate and the cash markets are quite steady, though the,
demand is not brisk. There has been a fair accumulation
since the movement began and now for a time smaller
receipts are expected. The speculative interest in oats,
however, is smaller than it was a while back.
Friday, October 9 1908.
Prices for wheat flour have exhibited no marked changes,
as a rule, and the transactions have continued on a corn paratively restricted scale here, whatever may be the case at the
Northwestern points, where the demand has been, on the
whole, quite good. The orders for the immediate future are
said to be liberal, and the war talk from Europe certainly
does not tend to weaken prices, especially as the wheat market has shown an upward tendency. Rye flour has met with
a fair demand at steady quotations. Corn meal has sold
DAILY CLOSING PRICES OF OATS IN NEW YORK.
moderately at steady prices.
Mon.
Sat.
Tues.Wed.
Thurs.
Fri.
53
Wheat has advanced, mainly owing to fear of war in No. 2 mixed. 52
6214-53
53
52-53
5234-53
clipSoutheastern Europe growing out of the declaration. of in- White
ped, 32 to
dependence by Bulgaria, the taking over of Bosnia and
34 lbs -5634-57 5514-5634 5514-5634 5434-5534 5414-5534 54 %-55 34
DAILY CLOSING PRICES OF OATS IN CHICAGO.
Herzegovina by Austria and the action of Crete. But anSat. Mon. Tues. Wed. Thurs. Fri.
other stimulating factor has been the drought in ths south- December delivery In elevator
49
49
4831 4954 '4934 493.4
May delivery In elevator
51
51
50% 5134 5134 5134
ern and southwestern sections of this country. The Govern- July
delivery In elevator
473( 46 5. 4654 463.4 4734 47 X
ment report,too,was regarded as on the whole a bullish docuThe following are closing quotations:
ment, as while it pointed to a yield larger than that of last
'-"OUR.
year, the increase was not so great as expected. The south- Low grades
$3 65 @$3 8 , Kansas straights
$4 80,@ 5 t.0
.
clears
.• 35C $ 65 Blenoed clears
5 300 5 40
western receipts, too, have been light. Continental mar- Second
tlerarg
slits
4 :i,..4 4 4 Blended patents
5
4:
2
,. .6, 4a 6
45
0
kets have been advancing and the spot quotations at the
5 1553 5 3 Rye flour
spring.
5 4u4i) 6 50 Buckwheat flour
3 00 0 3 25
Northwest have been strong in spite of large receipts there. Patent,
Patent, winter
4 81.7Z, 5 10 Graham flour
3 9053 4 ,0
The feeling is that should war break out in Europe it might Kansas clears
4 0053 4 30 Corn meal
3 70',.0 4 15
spread and bring about serious complications, one result of
GRAIN.
per bush.c.
Corn (new), per bush.c.
which would be to force Europe to buy an unusually large Wheat,
N. Duluth, No. 1
No. 2 mixed
:1331
8454
quantity of American wheat. This idea has had no little
N. Duluth, No. 2
112
No. 2 yellow
Nominal.
Red winter, No. 2
f.o.b.lt 9
No. 2 white
Nominal.
influence, though the crop reports from Argentina, Australia,
"
"
Hard
____ Rye, per bush.and India have been favorable. Yet the actual export busi- •gats, per bush.No.2 Western
f.o.b. 7734
Natural white
33 "i, 54
ness here of late has not been very large, and English marState and Jersey
Nominal.
No. 2 mixed
5214 5353
Barley-Malting
5
68
0e
€.5
655
kets have not shown the strength which those on the ConNatural white clipped 5434 .2.. 563i
Feeding
tinent have exhibited. According to the estimate of the
1, N( w.
For other tables usually given here. see nage 914.
Hungarian Ministry, there is a shortage in European wheat
crops of 18,000,000 bushels, the heaviest decrease being in
AGRICULTURAL DEPARTMENT'S OCTOBER REFrance. The American crop is estimated on the basis of PORT.-The report of the Departa ent of Agriculture for
the latest Government report at 659,030,000 bushels, Oct. 1 respecting cereal crops was issued on Oct. 7 as follows:
The Crop Reporting Board of the Bureau of Statistics of the Department
against 634,087,000 last year. To-day the market advanced,
Agriculture finds, from the reports of the correspondents and agents of
owing to the Balkan situation and fears of war, accompanied of
the Bureau, as follows:
CORN.-The condition of the cor i crop on Oct. 1 was 77.8, as comby a fall in British consols and depression in the stock marpared with 79.4 last month, 78 on Oct. 1 1907 and 79.7. the 10-year averkets. Moreover, the drought in the winter-wheat States age
on Oct. 1. The decline in condition during September was thus about
continued, and it is claimed that the crop is badly in need of 2%, compared with a decline In September last year of 2.7% and an averdecline in September of the past ten years of 1.6%.
moisture, especially in the soft winter-wheat States. The ageComparisons
for Important corn States and Divisions follow:
Northwestern receipts fell off a little, and the premium on
--Condition Oct. 1-Per cent of
cash wheat continued high at Minneapolis. European shorts
10-year Sept. 1 U.S. acre.
were covering in Chicago, and a fair amount of business was
States1908.
1907. average. 1908. In State.
Illinois
72
86
84
72
done for export. Receipts at the Southwest were still
9.2
80
70
81
80
9.0
light and large flour sales were reported at the Northwest. Iowa
Texas
83
78
73
85
7.8
71
84
81
Stocks increased 1,225,000 bushels at Duluth and 2,350,000 Missouri
72
7.5
Nebraska
80
69
75
82
7.5
bushels at Minneapolis during the week,but aside from this, Kansas
69
67
70
72
6.9
73
67
76
• most of the news of to-day was of a bullish character. The Oklahoma
78
4.9
Indiana
67
84
87
69
4.5
statistics, however, point to a large increase in the visible Georgia
92
84
84
82
4.5
82
78
supply in this country during the week, and after an early Ohio
84
3.4
82
Kentucky
75
88
83
80
3.3
advance realizing set in, which led to some reaction.
Tennessee
88
82
80
84
3.0
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat. Mon. Tues. Wed. Thurs. Fri.
10631 10734 1064 107
No. 2 red winter
10934 109
December delivery in elevator-.... _107% 10834 10734 10834 10934 110
10831 1094 10851 1094 11034 11054
May delivery In elevator
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
December delivery In elevator_ _ _ _ 9831 9834 9831 9031 1003.1 10054
10134 10234 10134 10234 10334 103
May delivery in elevator
July delivery In elevator
0534 9634 9534 96
CHICAGO.
0754 9754
Indian corn declined for a time, owing to liquidation
and speculative pressure from large interests at Chicago
and the West, who are opposed to an advance at this time,
Alabama
North Carolina
Arkansas
Mississippi
All others ,
83
85
80
84
3.0
82
39
82
84
2.8
60
77
79
80
2.6
74
81
76
87
2.6
78
83
82
84
17.5
- - - United States
77.8
78.0
79.7
79.4
100.0
SPRING WHEAT.-The preliminary estimate of average yield per
acre of spring wheat is 13.2 bushels, which compares with 13.2 bushels,
the final estimate In 1907, and 13.8, the average of the past six years. •The
Indicated total production of spring wheat Is about 233,090,000 bushels.
as compared with 224,645,000, the final estimate in 1007. The quality
Is 88.1, compared with 88.8 In 1907 and 35.9, the average of thepast six
years.
3111,..i
958
THE CHRONICLE
[VOL.
Comparisons for Important spring wheat States follow:
--Production 1008-- ' -Production 1907-P
QualPer
QualAcre.
ity.
Total.
Acre.
Total.
ity.
Bush.
Bushels.
P.C.
StatesBush.
Bushels.
P.C.
11.6
68,428,000 90
North Dakota
10.0
55,130,000 82
12.8
68,557,000 86
Minnesota
13.0
67,600,000 89
37,862,000 88
South Dakota_ - _ _ _12.8
11.2
32,480,000 92
15.0
14,970,000 89
Washington
23,275,000 97
24.5
43,273,000 88
17.5
All others
46,160,000 90
18.3
-- ---- -- ---- -United States- _ ..13.2 233,090,000 88.1
13.2 224,645,000 88.8
The production of spraur and winter wheat combined Is about
659,030,000 bushels, compared with 634,087,000 finally estimated last
year. The quality of all wheat is 89.4, as compared with 89.9 last year.
OATS.-The average yield per acre of oats Is about 24.9 bushels, as
compared with 23.7 bushels finally estimated in 1907, and 29.8, the average of the past ten years. A total yield of 789,161,000 bushels Is thus
Indicated, as compared with 754,443,000 finally estimated In 1907. The
quality of the crop is 81.3, against 77.0 last year and 86.1, the average for
the past ten years.
Comparisons for important oats States follow:
--Production 1908-Production 1007
Per
QualQualPer
Acre.
Total.
Up.
Total.
Acre.
Up.
bush.
Statesbushels.
bushels.
P. C.
bush.
P.C
24.3 110,444,000 78
Iowa
24.2 108,900,000 68
_23.0
Illinois
21,632,000 79
24.5 101,675,000 70
22.0
Minnesota
59,004 000 70
61,985,000 76
24.5
22.0
Nebraska
56,078,000 78
51,490,000 73
20.4
31.1
Wisconsin
73,085,000 83
22.0
51,700,000 70
21.2
Indiana
35,425,000 81
20.2
36,683,000 73
26.4
Ohio
40,973,000 82
22.8
36,480,000 80
29.7
Michigan
41,847,000 93
20.8
30,534,000 81
23.4
North Dakota
32,737,000 84
24.5
32,340,000 88
23.0
South Dakota
31,395,000 76
24.7
32,728,000 82
New York
30.1
36,000,000 89
30.7
37,086,000 86
Pennsylvania,
27.3
27,382,000 85
29.6
29,689,000 87
Kansas
22.0
21,868,000 81
15.0
16,380,000 74
Missouri
19.3
12,410,000 74
21.5
14,254,000 77
All others _
27.6 118,881,000 87
26.2 112,519,000 87
- ---- -United States__ -24.9 789,161,000 81.3
23.7 754,443,000 77.0
BARLEY.-The yield per acre of barley Is about 25.0 bushels, which
compares with 23.8 bushels, the final estimate for 1907, and 25.5, the average of the past ten years. A total production of 167,242,000 bushels Is
thus Indicated, as compared with 153,597.000 In 1007. The average
quality Is 89.3, against 88.2 last year and 87.6, the average of the past ten
years.
POTATOES.-The average condition of potatoes on Oct. 1 was 68.7.
as compared with 73.7 on Sept. 1, 77.0 on Oct. 1 1907 and 76.3, the average of the past ten years on Oct. 1. The condition on Oct. 1 in important
potato States was: Maine, 94; New York, 61; Michigan, 60; 'Wisconsin, 65.
147,056,096
142,870,267
117,097,422
US .1
0000
97,483,995
. 00 0
T4 Tr
VS
ENTERED FOR WAREHOUSE DURING SAME PERIOD.
g!.........fli-g.iii ,
M, Tr N
.
WITHDRAWALS THROWN UPON THE MARKET.
1 1908 AND
The value of these New York exports since Jan. 1 has
been $8,936,712 in 1908, against $8,551,382 in 1907.,
A moderate amount of business in the aggregate has been
done in heavy brown sheetings, but buying has been .of the
hand-to-mouth order in these lines as well as in bleached
cottons, leading tickets of the latter being in a well sold condition. With the exception of a reduction of Vic. on Southern
drills for export, the market for drills, sheetings, prints.
ginghams, &c., has continued steady, but with demand rather
limited. Canton flannels and napped goods have moved in
moderate volume, while in the coarser lines of colored cottons the demand has been chiefly from the manufacturing
trade for lines adapted for shirting purposes. Linings have
been taken to a fair extent; orders, however, have been
mostly for filling in purposes, and while the opening of new
spring lines has continued, forward business is less active.
A better demand is noted for print cloths from converters,
and sellers are slightly firmer on wide goods; regulars remained unchanged at 3c., but standard wide goods are quoted
at 4e. to 4 1-16c. Export trade has been quiet, with inquiries from China for small lots of light-weight sheetings
and drills, and only light sales being made.
WOOLEN GOODS.-In men's wear demand for staple
worsteds and some lines of woolens,• the orders for prompt
shipment to meet fall requirements are numerous, but individual quantities ordered are of moderate volume only.
But few duplicate orders for spring have been received, and
not much improvement in this direction is expected until
after the election; much depends also upon the result of the
clothiers' canvass for spring business. Local clothing manufacturers are increasing their operating schedule, in anticipation of considerable business during the balance of the
year, and are placing duplicate orders for cloths; but as most
lines of men's wear for the 1908 heavy-weight season are
well cleared up; they have been obliged to accept substitutes in many instances. In dress goods there has been a
The indicated yield of the principal crops for 1908 is as steady, call for prompt shipment. Broadcloths have confollows, the total crops as reported by the Agricultural De- tinued in good request, while such lines as serges, henriettas
partir.c at for 1907. 1906 and 1905 being appended for com- and cheviots are selling in about average quantities; fabrics
with a soft finish are popular. On dress goods for next
parison:
1908.
1906.
1907.
1905.
spring, business is still backward.
1904.
Bushels.
Bushels.
Bushels.
Bushels.
Bushels.
FOREIGN DRY GOODS.-Some of the finer lines of
corn*
2,615,000,000 2,592,320,000 2,927,416,091 2,707,993,540 2,467,480,934
Winter wh't 125,940,000 409,442,000 492,888,004 428,462,834 332,935,346 dress goods are in better
demand for spring, but business
Spring ,..•11't 233,090,000 224,645,000 242,372,966 264,516,655 219,464,171
789,161,000 754,443.000 964,904,522 953,216,197 894,595,552 has not been up to expectations. Imported men's-wear lines
Oats
153,597,000
Barley 7,_ _ 167,242,000
178,916,484 136,651,020 139,748,958 show little, if any, improvement. Silk piece
goods continue
33,374,833
31,566,000
30,921,000
28,485,952
Rye
27,241,515
firm but quiet, and a moderate trade has been done in the
MI
VtfiTotal_ _4,261,3.54,000 4,166,013,000 4,839,872,900 4,519,326,398 4,081,466,476 better grades of ribbons. Conditions in the linen division
remain practicany unchanged. Burlaps are quiet but
*1908 figures based on acreage and condition percentages.
strong.
THE DRY GOODS TRADE.
Importations and Warehouse Withdrawals of Dry Goods.
New York, Friday Night, Oct. 9 1908.
Tii importations and warehouse withdrawals of dry goods
There has been some improvement in the tone of the
this port for the week ending Oct. 3 1908 and since
market in several directions. This has been noticeable in at
1908,.and for the corresponding periods of last year,
connection with such cotton goods as are suitable for con- Jan. 1 follows:
verters' purposes and in others taken mainly by the manu- are as .40000
h r.
21 N
n
n0N
N
hN
facturing trades. It does not actually amount to much in
tetenato
oD
W
."
OMOOW
any of these, but is regarded by the general market with •
Ci:n.cSekc e4.1*
0 co
Wh
OM
0-000. 4..0
a
,
000
satisfaction as an indication that some prices have reached,
00
..el.
.el co
.
....
.
el cot- 22
Mh
4cot.i.1.4 nh
if not bottom, at least a level where buyers are disposed to
.nn..
N.
N.
C!
operate somewhat more freely at present. There is still
I*2
00000 0
0.0.f. 00 0
00...44 4.20-5 'TO
t.0 00 -r C2
r.
much irregularity, and while a slight hardening is seen oc0-00000000
el
cot- 0
22 ...000 '00-"
r4o.c
.
n ...r
..1
.
.
4, n,
,
r.
r. CO..0
.$2 ..4
casionally, as noted below, actual reductions have also been
.. n CD CD C.; oi
VS
050
-000000
0.o0-5 0000
05
t•: ,4
,
'0'?
.N.N0
. . er
made, the latter in heavy cottons suitable for the export
OD
trade. The strike in Lancashire is still unsettled, but up
ecerooN er
VS
erer
co
Z
0.1.10.
00
•
00
to the present tillie no appreciable effect has been felt in
no
co
.400
. 00
05
no
;0.C;CC
exporting circles here upon the demand for export. The lig.i2.00
.
.
r
40)
Oc; co
.0
0-5
00
cot- C2 0 el
belief is stronger, however,that with prices right, China and C.) ....'
WO
NO. 0-5
a
el
ci
05
0-5
other markets are likely to give more attention to American
00
cottons as Lancashire becomes more difficult to deal with, 71 t...; . aooro 00
.. CM
22 C2 00
VS
00 00 CV 0.1 I
g
2g e220 1 0
U.
CD
0 040
CO
00
onn./co
and some manufacturers here are evidently setting their
05 r. r4 0500
0005
co
ei.........
N 400 0
rio
P...
house in order in order to encourage any such diversion. •
.,4
A gradual increase in the amount of active machinery in the W
00
...,11...o...
• o0
ci
ono,
rn
cotton industry is noted. The annual statement of the W
000.h
00
0-500
ci
Amoskeag Company has attracted considerable attention,
0.0
C:40
4• 4oggc:4
4i ci
nN
00
inasmuch as, while showing a considerable reduction in , 2'
,
Ci
r .1
.;:.'
trele
'
"
;7
c
;: ci
volume of cloth output for the year, the net financial results, ;
.00
40 4
NN
itNh
Ci
by reason of economies enforced, compare favorably with E. c21
h00 40 M
nh
cc
the preceding year, net profits showing a slight increase Z ".2
ONW'rh
00 0-5
nhOt
.,4
Z
'
.
. cj,
Ci
00
thereon. The woolen division has ruled quiet throughout, o
44
-,.,i,4
eint
,
::•it'; 6.1
ei;
Ci
.ocer
vci
with business affected early in the week by the Hebrew X Ci)'..
OM
CO C4
05
...
e4 00
co
Nr2
holiday. The general trade continues quiet and in many CD
00
,c0.0r-eo 0
O.
ereroon.-. On
E
quarters no improvement of moment is looked for until :
r0000
o,
OM
ci
"0000 rico
.01 00
ci
.
after the elections, many buyers declaring their intention
0-0
eiZ
OC;'
,
"
er4c7 C:7
00
OCM
05
to purchase only hand-to-mouth quantities until that time.
on co
co
ci
DOMESTIC COTTON GOODS.-The exports of cotton
ci
ci
ci
ci
goods from this port for the week ending Oct. 3 were 4,953 0.9.
oc
co co co
W
nOhM.
co
Ci
Onn0.
)
Ott.;
c) n 22 0
packages, valued at $261,295, their destination being to the ....:'.C1
..
N.OMW
e2
CS)
00
r.
r2
er
coo
W. ,4
D
ci
points specified in the tables below.
el
O
P..
----1908---- --1907---- 4.
x
Since
0
ON
NO
q.
t
M, Tr
CC
.
v-1
Total
1,800
697
480
911
6
75
245
723
...
4,953
Ja
Jan. 1.
634
908
18,392
9,604
25,432
7,806
19,500
1,249
11,989
30,620
16,068
142.202
1Vee3
k9
.
14
7
Ii_
i5
_
Since
Ja1n,3
.911
7
648
69
201
325
254
1,044
18,148
6,068
24,420
3,916
17,746
1,805
10,444
36,698
21,418
1.582
143.188
16
r>
Cj
a
a
fg Li gi
WA;74r4
Total Imports
Week.
14
2
Total marketed
New York to October 3Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
ocr. 10 1008.j
THE CHRONICLE
MO CITY rmiiirfITMENT,
MUNICIPAL BOND SALES IN SEPTEMBER.
In compiling our usual monthly table of municipal bond
sales we find that the total sold during September was,
with but one exception, much larger than any other output
for that month. The bonds sold amounted to $34,300,679,
excluding $3,006,435 Canadian sales and $17,603,882 temporary loans. The only other September total in excess of
this is that recorded last year,when $47,947,077 bonds were
disposed of. These latter figures, however, included
$40,000,000 bonds put out by New York City. This year's
aggregate includes only $300,000 bonds of this city.
During the month the city of Philadelphia awarded $10,000,000 4 per cents at an average price of 103.3487-a basis
of about 3.812%. The State of New York was also successful in disposing of $5,000,000 3 per cents. In this instance
the price realized was 100.2889, making the income basis
about 2.989%. It will be remembered that the value of
these securities is enhanced when held by savings banks,
trust companies or insurance companies by the fact that
under an amendment to the tax law made last year such
institutions are credited with 1% of theirholdings in the payment of taxes. The betterment of market conditions is
further illustrated when it is recalled that the State Comptroller in his last annual report to the Legislature called
attention to the difficulty of selling 3 per cents and recommended either exempting these securities from all taxation
or increasing the rate of interest on the same. Other important sales made in September were $3,280,000 5s of San
Francisco at 107.15; $1,361,000 and $200,000 4s of Newark,
N. J.,at 101.5334 and 101.577, respectively; $1,000,000 4s
of Chicago, Ill., at 99.8463; $852,550 4s of Buffalo, N. Y.,
at prices ranging from par to 100.18, and $631,000 4s of
Essex County, N. J., at 101.11.
The number of municipalities emitting bonds and the
number of separate issues made during Sept. 1908 were 226
and 318 respectively. This contrasts with 282 and 379 for
August 1908 and with 162 and 276 for Sept. 1907.
For comparative purposes we add the following table,
showing the aggregates for September and the nine months
for a series of years:
Month of
For the
Month of
September.
Nine Mos.
September
1008 ___$34,300,679 $188,951,843 1899 ___ $7,201,593
1007 ____ 47,047,077
169,973,108 1898 ___ 6,173,865
1906 __ __ 8,980,418
153.152,345 1897 ____ 9,272,691
1905 _ _ __ 9,825,200
141,021,727 1896 -___ 3,603,457
1904 ____ 10,694,671
197,921.657 1895 ___- 11,423,212
1903 ____ 8,762,079
111,745,993 1894 ____ 8,249,347
1902 ___ _ 9,170,654
117,678,855 1893 3,885,137
1901 14,408,056
99,324,001 1892 -- 6,242,052
1900 --__ 4,033.899
97,194,441
For the
Nine Mos.
195,026,437
83,150,559
106,387,463
56,229,416
92,253,916
00,454,836
40,974,566
63,583,834
In the following table we give a 1st of September loans to
the amount of $34,300,679 issued by 226 municipalities.
In the case of each loan reference is made to the page in the
"Chronicle" where an account of the sale is given.
SEPTEMBER BOND SALES.
Page.
Name.
Rate. Maturity. Amount. Price
828-_Albany County, N. Y
4
1909-1928
79,000 100.65
694_ Alexandria Ind. S. D. No. 2,
Minn
5
1918
10,000 103.40
763_Alliance, Pa
434 1914-1918
20,000 100.25
889__Amherst Union Sch. Dist., Ohio 434 1910-1915
3,000 101.70
961 _ -Anniston, Ala
5
1918
4,500 100
889_ _Appiewold Sch. Dist., Pa
434 d1913-1938
3,000 101
889-Ashburn, Ga. (2 Issues)
5
45,000 101
828--Ashland Ore
434
2,500 100
1910
695-Atchison Sch. Dist., Kan
50,000 100
454
828- Bellefontaine Sch. Dist., Ohio- 5
8,000 102.516
1909-1914
081-Benton Co. S. D. No.31, Wash_ 5
d1913-1018
1.000 100
828--Beverly, Mass
50,000 101.742
4
1909-1918
763__ Big Rapids, Mich
5
15,000 103.286
763--Big Rapids, Mich
5,017 102.331
5
889-Billings Sch. Dist., Mont
434 1918-1928
25,000 100.70
889-Bloomdale Sch. Dist., Ohio
3,000 102.548
1911-1914
5
889-Bonham, Tex
6
32,000
882- _Boswell, Pa
6
7,000 102.855
1909-1915
96L..Boulder, Colo
5
15,000
1913-1923
828„Breckenridge, Minn
6
15,921 100
1013
784__Brockton, Mass
4
50,000 103.667
1913-1937
695__Brookhaven, Miss
.5i 15,000 y101.033
889-_Bryan Co. S. D. No. 29, Okla_- 6
1,500
1928
889-Buffalo, N. Y
4
1909-1928
100,000 x100
828__Buffalo, N. Y
4
500,000 100.83
d1928-1958
828_ Buffalo, N. Y
4
173,168 100.002
1909-1913
4
828-_Buffalo, N. Y
1909-1928
79,382 100.18
889__Burlington, Vt
4
51,000 100.60
1928
4
828.-Butler Sch. Dist, Pa
31,000
889_Canajoharle, N. Y
4.20 1909-1915
3,500 100
434 1909-1918
764_Cass County,ind
3,134 100
434 1913-1920
961 __Cedarburg, Wis
15,000 101.41
828- _Ceres Sch. Dist., Cal
20,000 111.888
1919-1928
6
632__Chicago, Ids
4
1.000.000 99.8463
981_Chelan Co. S. D. No. 44. Wash- 5
d1911-1913
2,600 100
889-Choctaw Co. S D. No. 14, Okla_ 6 1913'18'2304'28
1,800 100.50
695__CincInnati Sch. Dist., Ohio--- 4
200,000 105.31
1948
800__Clayton Sch. Dist., N. J
5
1909-1928
32,800 102
828Cleveland, Ohio
43.4
225,000 103.912
1924
961 __College Sch. Dist., Cal
6
1900-1913
2,500 102
895- _Collinsville High Sch. Dist., Ill.. 434
41.000
962__CollInsvIlle Sch. Dist., Okla..
25,000
890__Colo. Ind. Sch. Dist., Iowa-- 534
1,500 100
820_ _Compton Sch. Dist., Cal
5
1909-1928
20,000
764-Concord. Mass
4
1928
60,000 105.34
959
Page.
Name.
Rate. Maturity. Amount. Price
889 ..Connellsville, Pa
434
1933
47,500
962_ _Coraopolis. Pa
1938
20,000 100
434
764_ -Corlett. Ohio
5 1908,'1163'14
2,017} 102.325
784- _Corlett, Ohio
190
890.. Cortland Union Free Sch. Dist. 5
.
94918
8'517
No. 2, N. Y
4.40
39,000 100.074
829-_Cow1ey Sch. Dist. No. 28, Wyo_ 6
1910-1919
3,000 y100
890_ _Craig Co. S. D., Okla.(2 Issues). 6
1923041928
6,000
764_ _Cranberry Twp.S D., N. J____ 434 , 1912-1917
6,000 102
764_ _Crookston Ind. S. D. No.1,•Minn 4
1923
20,000
890__Cumberland, Md
5
100.000 106.227
1922
764-_Cuyahoga Co.. Ohio (2 issues)
1909-1919
52.500 105.396
5
890__Cuyahoga County, Ohio
434
300,000
890- _Dallas County, Tex.(5 Issues)_.. 4
41913-1928
7,850
890_ _Dallas Township, Ohio
434 1919-1920
2,000 105.40
962__Davis Sch. Dist., Okla
18,000
829- _Dawson and Frontier Counties
Sch. Dists. Nos. 51 and 111.... 6 1918,'2363'28
12,000
764_Dayton, Ky
4
28.000 100.017
764_Dayton, Ohio
5
1909-1918
50,000 104.902
764__Dayton, Ohio
5
1909-1918
20,000 104.90
764__Delaware County, Ohlo
431 1909-1918
144,720 102.401
890_ _Detroit, Mich
334
1938
125,000 101.97k
829Detrolt Ind. S. D. No. 1, Minn_ 4
40.000
962__Dickinson County Iowa
5
1911-1920
10.000
820__Douglas County, W
454 1909-1928
75,000 102.80
829_ _Dunkirk, N Y
434 1909-1918
35,329 100
695__East Carroll Parish, La
5
J
11,000
99
1
11,000 100
832__Eastchester Union Free Sch.
Dist. No. 1, New York
4.60 1913-1919
7,000 100.52
695_ _East Chicago, Ind
6
1910-1919
28,000
696_East Grand Forks, Minn
5
1918-1927
50,000 102
890„East Washington, Pa
434 1922-1929
11,000 100
829_ _El Verano Sch. Dist.. Cal
5
3,500 100
800.. Erlanger Graded Common Sch.
Dist. No. 32. Ky
534
800-Escondido, Cal
14,10°
8 84
890-Essex County, N.J (2 Issues) ___ 4
1948
631,000 101.11
764__Eureka School Dist., Cal
5
1909-1918
2,000 101.25
764 ..Everett. Mass
4
1909-1918
40,000 100.623
962- _Eyota, Minn. (2 issues)
5
1909-1928
3,000 100
765__Fall River, Mass
4
1918
20,000 102.35
890_Fayetteville, N. C
5
1938
100,000 102.50
696__Fitzgerald, Ga. (3 issues)
5
1938
130,000 101.631
696__Foosland Sch. Dist,. III
5
1,200
765_ _Fort Morgan, Col
534 419184923
55.000
890__Fort Plain, N. Y
434 1901913
25,000 100
765--Fort Townson Sch. Dist.. Okla_ 6
15,000 100.666
696_ _Franklin County, Ohio
454
19-2198
9 13
58,900 101.137
962_ _Fruitvale Sch. Dist.,Cal
1909-1928
5
100,000 104.155
608_ Gadsden. Ala5
1938
100,000 100
963_ _Galveston, Tex
5
25,000 100.935
829__ Gibbon Sch. Dist. No. 2, Neb.- 5
1913-1928
18,000 100.555
829- _ Gordon, Wis
1913-1917
7
10,000
765-Grady Co. S. Ds., Okla.(15 13336637 1923001928
$
89
0
:0
4
000 100
963 _ _ Greensburg, Pa
4
696.._ Greenville, Ohio
191109-139814
4
2,500 101
830__Gridley, Cal
33.000 100.045
891_ Hamilton. Ohio (2 issues)
434 1909-1918
4,064 100.295
696....Harpersileld, Stamford 04 JefferJ
10,000 100.73
son Un. Fr. S. D. No. 1, N.Y. 434 1909-19381
13,000 101.47
765_ _Harrison County, Ohio
434 19094916
15,000 101.851
983 _ _ Hartford. Conn., NorthwestS.D. 4
1938
95,000 100
830--Hartford, Conn., Washington
Sch. Dist
4
1932
100,000
891__Hattlesburg, Miss
70,000
963 _ Hawthorne S. D. No.99, Ill_ __ 434 1011-1920
10,000 101.07
891__Hebron Sch. Dist. Neb
41910-1928
20 000 100.255
5
891-Herkimer, N. Y
1909-1933
4
50,000 100
632_ _Herklmer County. N Y
19224931
4
120,000 100
891__ Holly, Col
6
1923
40,000
95
830_ -Holyrood, Kansas
434 1013-1930
9,000
830_ _Houston, Tex
41928-1938
5
100.000 106.010
830_ _ Hughes Co. S. D. No. 48, Okla_ 6
1928
10,000
696_ _Humboldt, Iowa
434 41913-1918
5.500 100.20
765_ _Idaho Falls, Ida.(2 Issues)
20,727
830_ _Idaho, Stateof6
130.000
963_I la City, Kan
6
1909-1918
65,000 100.25
696_ _Jackson County, Minn.(3 Imes)
142,000 100.588
785_ _Jackson Co. S. DP. No. 54, Okla.. 61928
1928
12,500 102
765_ _Jackson Co. S. D. No. 61, Okla_ 8
10,000 102
765_ _Jay County, Ind
434
24,500
0 3__ Kansas City Sch. Dist., Mo___ 4
1928
91.000
891_ _ Kansas City, Mo
1909-1928
12,768 105
830_ Kimball County, Neb
1913
.6
5.000
766- _Kiowa County S. D. No.3. Okla. 6
1928
15,000
891_ _ Klickitat Co. S. D. No.66,Wash. 5
41913-1918
4,500 100
766- _Lake County, Ind
5
1909-1915
80,000 103.78
830__Lakewood, Ohio
1918
5
19,000 101.612
768_ _Lakewood Sch. Dist., Ohio_.
434 1913-1932
40,000 104.751
830_ _La Moure County, No. Dak_ _ _ 434 1901928
50.000 103.07
830__Lansing, Mich
5
9-1913
12,000 101.07
766_ _Laurel, Md _
5
1948
15,000 104.61
830.._Leechburg, Pa
5
10,000 101.30
891_ _Le Fiore Co. S. D's, Okla.(21ss.) 6
1919-1928
13,000
760._Lincoln. Mass
1910-1928
4
52,000 101.89
766_ _Longview, Tex
10,000
964_ _Louisville. Ky
4
50,000 100
697_ Lucas County, Ohio
4% 1909-1928
82,000 104.68
697__Lucas County. Ohio
434 1914-1928
60,000 106.161
892_ Madison, Wis.(2 Issues)
4
1928
55,000 y100
064_ Malta, Ohio (2 Issues)
5
2,000 108.525
892_ _Manchester, Conn
4
1909-1931
115,000 100
697_ Marlon, Ohio
4
29,980 100
697_ Marion, Ohio
4
5,935 100.259
831_ Marion County, Ind334
1928
100,000 100.2325
831_ Marlon County, Ohio
5
3.800 105.984
831_ Marshall. Tex
85,000 100
964__Maysville Sch. Dist., Okla__ 6
1928
11,000 y100
786_ _Matagorda County, Tex
4
41918-1948
50,000 100
831_ Mayes County S. D. No. 1. Okla. 6
1199228
8
831.. Medford, Mass
4
20
5.'0
°°
0°
0 104.815
697_ Merrill, Wis. (2 Issues)
4M 1018-1927
50,000
964_ Mesa, Ariz
50,250
064__Marysville, Okla
11,000
697__Middietown, Ohio
68
434 190199
1918
-2
11,670 101.90
768__Milton Sch. Dist., Ohio
50,000 105.014
434
892_ _Milwaukee, Wis.(2 Issues)
1909-1928
4
400,000 100.05
892_ Milwaukee, Wis
1909-1928
4
280,000 100.10
892_ Minneapolis, Minn
250,000
633_ _ Monona Ind. Sch. Dist.. Iowa__ 5
4,000 100.25
831 __Morrow County, Ohio (3 Issues) 434 1909-1918
38,092 Varlo's
697..Mt. Clemens S. D. No. 1, Mich_ 4
1912-1017
24,000
766_ Mt. Vernon, N. Y
5
1914 . ,3] 40,000 103.975
963__Murdo I.Sch. Dist., So. Dak.
(2 issues)
6
697_ Nebraska City, Neb
4
15
100
7
1 0
03.18
°°
0 y1
767_ Neenah, Wis
434
831. Newark, N. J
4
41948-1958 1,361.000 101.5334
831_ Newark N. J
4
41948-1958 200,000 101.577
633_ New Britain, Conn
4
1936
70.000100
697_ New London, Ohio
5
1909-1918
17,0001
697_ New London, Ohio
5
1915-1924
5.000J 100.386
831__New Mexico, Territory of
4
419284938
40.000
831_Newton, Mass
4
1909-1935
27.000 103.887
892_ _Nevr-York City
3
1957
300.000 100
892_ New York State
3
1958
5.000,000 100.2889
964_ Northfield, Vt
334
6,500 100
892_ Norwich, N. Y
4
1912-1921
20.000 100
832_ Norwood, Mass
4
1909-1948
40,000 104.17
767. Norwood, Ohio (3 Issues)
434
11,527 Varlous
608_ _Nottingham Sch. Dist., Ohio
4
iiii-ioio
4.000 100
832_ Oakley. Ohio
5
1909-1918
1,194 104.06
832- Oakley, Ohio
434
1928
750 105.66
1
Name.
Rate. Maturity. Amount. Price.
Page.
5
832_ _Oakley, Ohio
5,883 104.1418
4% 1909-1918
767__Oberlin, Ohio
5,000 101.78
434 1912-1917
767__Oberlin, Ohio
6,000 102.31
5
1923-1937
767_ _Ocilla, Ga.(2 Issues)
15,000
4
698__Ogden Sch. Dist., Utah
d1913-1928
75,000
95.81
5
898_01inda Sch. Dist., Cal
1910-1919
5,000 100.60
832__Omaha Sch. Dist., Neb
43
250,000 105.32
698__Oncida County, N. Y
5
100,000 102.031
698__Oologah Sch. Dist. No.33, Okla. 5
1913-1924
6,000
4 M 1913-1020
634__Oswego County, N. Y
85,000 103.037
767__Ottawa Co. S. D. No. 19, Okla_ 6
1928
1,000 100
787_ _Ottawa Co. S. D. No. 35, Okla_ 6
1918
1,000 100
767-Ottawa Co. S. D. No. 41, Okla_ 6
1920
1,000 100
893.._Park City, Tenn.(4 Issues)
5
1938
105,000 102
965__Park County, Ind
4% 1909-1918
11,130 100
893_ _Parnassus School District, Pa
5
8,500
767„Peekskill, N. Y
4.15
1938
60,000 100.074
893 _ _Perkasle School District, Pa....
4
1926-1929
3,500 Various
832- -Perry Township, Ohio
5
190949125
1,545 100
400 100.50
1
i 9.000,000 103.333
634-Philadelphia, Pa
4
1938 i 500,000 103.39
l 500,000 103.59
985 Philippi, W. Va
5
d1918-1923
6,000 106.10
832_ _Piscataway Twp. Sch. D., N. J_ 5
1909-1922
14,000 102.50
767_ _Pittsburgh, Pa.-Beitzhover
School District
5
100,000
965__Pittsburgh, Pa
800,0001
33
965_ _Pittsburgh, Pa
25,0005z100
4M 1909-1928
832_ _Platte, So. Dak
1928
16,000 100.078
5
893--Pleasant Hill, Ohio
5
1009-1930
16,000
767_ _Pleasantville, Pa
5 •
14,000 100
893-Pocatello Ind. S. D. No. 1, Ida.. 5
d1918-1928
15,000 101.28
698-Point Pleasant Beach, N. J
1938 { 23,000 100
5
1,000 101.75
1928
6,000
832...Pontotoc Co. S. D. No. 3, Okla_ 6
803_ -Pontotoc Co. S. D. No. 33, Okla 6
1928
2,500
36,000
893..Pratt School District, Kan
43
1909-1913
500 100.20
767_ _Preble County, Ohio
4
1909-1913
800 100.287
767_ _Preble County, Ohio
4
1013-1928
30,000 102
832__Prescott Sch. Dist. No. 1, Ariz_ 5
1023
6
40,000 100
965....Ramona School District, Okla
1911-1915
4,500 100.222
5
894..-Redfield Ind. Sch. Dist., Iowa
1923-1932
50,000 100.65
832__Rediands School Dlstrict, Cal- 5
965_ _Richardson Co. Dr. Dist. No. 1,
5
1913-1917
50,000 100
Neb
5
8,000
833_ _Richmond, Mo
1,000
833 _ _Ridgeville Spec. Sch. Dist.,0_ 6
4
165,000 100
d1918-1938
894_ _Rochester, N Y
6
d1918-1928
40,000 102.84
768_ _Rock Springs, Wyo
1918-1928
9,500
894_ ..Rogers Co. Sc. D., Okla.(3 iss.) 6
4
1928-1938
698_ _Rome, Ga
50,000
4M 1918-1928
698_ _Rome, Ga
20,000
6
1918
894.-Rothsay, Minn
1,000 100
4
1009-1948 200,000
833_ _Sacramento,Cal
5
1914-1915
834_ _St. Marys Sch. Dist., Ohio
3,000 104.333
4
1938
788__St. Paul, Minn
5,000
1917
4
768...St. Peter, Minn
7,000
d1928-1938
12,000 102.916
833-_St. Petersburg, Fla.(2 Issues).- 6
Various
5
15,040
768_ _Salem, Ohio (6 Issues)
d1918-1923
5
24,763 100
768_ _Salem, Ore
6
1918-1942
31,500 106.317
768_ _Salem, W.Va
1948
4%
150,000
768__San Antonio, Texas
35,000 100.114
894-San Bernardino Sch. Dist., Cal_ 434 1912-1918
3,280,000 107.15
768_ _San Francisco, Cal. (4 issues)-- 5
4% 1009-1948
40,000 100.3525
768--Santa Barbara, Cal
1909-1915
5
7,000 100.50
833_ _Santa Paula. Cal
833..SantaYnez Valley Union High
1009-1923
6
15,000 107.38
Sch. Dist., Cal
38,000 100.11
635_ _Saranac Lake, N.Y.(2 Issues).- 4) 1913-1938
43.
1909-1928
25,000 103.52
833__Sclo, Ohio
80,000
698_ _Selma. Ala
1928
17,000 102
768_ _Seminole Co. S. D. No. 9, Okla_ 6
1928
1,000 100
768_ _Seminole Co. S. D. No. 23, Okla. 6
1928
1,250 100
768_ _Seminole Co. S. D. No. 28, Okla. 6
4% 1913-1938
25,000 103.69
635_ _Shawnee, Ohio
4
11,663 100
768-.Shelby, Ohio
1909-1912
43
2,000
894--Sherman,Texas
5
1913-1920
894-Shullsburg, Wls
8,000 100
10,000 100
698--Snohomish Co.S.D.No.98,Wash.. 4% d1913-1918
4
d19284948{ 105.000
894._Spartanburg, S. C
95.50
81,000
93
1909-1928
230,000 103.01
894_ _Springfield, Mass. (3 issues).- 4
5
1909-1913
985__Springfield, Ohio
3,672 101.293
5
1909-1913
3,602 101.276
965_ _Springfield,. Ohio
4
15,000 101.766
834 _Springfield, Ohio
966„Stephenville, Texas (2 issues)".... 5
15,000 100
434
834...Steubenville, Ohio
30,000 102.255
434
9,000 101.722
834_ _Steubenville, Ohio
1909-1914
966...Superior, Wis
5
7,800
1938
769__Sylvester, Ga
5
30,000 100
10.500
699.._Taft, Okla
1918-1927
5
3,000 101
834- _Tegna School District, Cal
4
1909-1915
9,000 100.666
834_ _Tiffin, Ohio
1918 .
6
7,700 9101.142
895„Todd County, Minn
1924
12,000 108.551
5
630....Tod Townshlp, Ohio
4,500 100.07
4f 1913-1921
895_ _Tuckahoe, N. Y
1933
6,500 106.938
43
895_ _ Uhrichsville, Ohio
75,000 104.562
5
895...Union County, Ohio
10,000 107.565
1909-1928
895-Van Buren Township, Ohio.... 5
55,000 100
434
895_ _Verona, N. J
d1918-1928
30,000
770_ _Walla Walla S. D. No. 1, Wash.. 4
50.000 104.515
1914-1918
5
895_ _Warren County, N. Y
30,000
4M
896....Washington. Pa
125,000 101.262
4
699....Washington County, Pa
1009-1918
10,000 102.16
770- _Washington Twp. S. D., Ind__ _ 4
16,600 100
4%
699_ _ Wayne County, Ind
1928
40,000 101.87
770...Wayne School District, Neb... 5
1918
4,000 100
5
771_ _Webb City, Mo
21,000 101.19
d1918-1938
8
896-Welch, W. Va
8,200
5
771-WellesvIlle, Ohio (4 issues)
5
66,000 100
835-Wichita, Kan
4
1031
100,000
90.577
835_ _Wilmington, Del
4%
200,000
1048
700__Wilmington, N. C
434
1938
85,000 101
700_ _Woodbury, N. J
5
25,000
896_ _Worcester County, Md
1910-1914
12,000 103.125
5
771__Wyandot County, Ohio
12,000 103.125
771- - Wyandot Oounty, Ohio
1910-1912
5,000 100.04
6
835-Wytheville, Va
d1909-1918
1,200 100
896-..Yakima Co. S. D. No.85,Wash_ 5
4 M 1909-1928
50,000 103.817
772-_Yonkers, N. Y
4% 1909-1928
16,000 103.416
772__Yonkers, N. Y
5
19104914
4,860 102.786
772.._Youngstown, Ohio
1010-1914
5
2,540 102.761
772_ _Youngstown. Ohio
10104914
5
2,300 102.42
772.... Youngstown, Ohio
1910-1914
5
965 102.039
772„Youngstown, Ohio
19104914
5
1,375 102.42
772_ _Youngstown. Ohio
1910-1914
5
1,960 102.42
772_ _ Youngstown, Ohio
1010-1914
5
575 102.04
772__Youngstown, Ohio
5
1910
1,360 101.158
772__ Youngstown, Ohio
1910-1914
5
25,800 103.108
772_ _Youngstown, Ohio
Total bond sales for September 1908 (226 municipalik$34,300,679
ties covering 318 separate Issues)
a Average date of maturity. d Subject to call in and after the earlier
year and mature in the later year. k Not Including $17,603,882 of temporary loans reported, and which do not belong In the list. z Taken by
sinking fund as an investment. y And other considerations.
BONDS SOLD BY CANADIAN MUNICIPALITIES.
Name.
Page.
695_ _ Bloomfield, Ont
764.... Brockville, Ont
961 _ Brockville, Ont
Lxxxvi
THE CHRONICLE
960
Rate.
5
4
Maturity.
1909-1928
1922-1923
Amount.
$1,000
5,000
3,453
Price.
Page.
Name.
Rate.
Maturity.
695 _Curlew, Alberta
764 _Dauphin, Man
5
1909-1927
829 _Digby, N. S
43
1909-1938
962„Edmonton Sch. Dist., Alta
5
1909-1038
829....Elmira, Ont
5
1009-1920
764_ _Elmira, Out
5
1909-1938
962_ _ Emard, Quebec
5
1938
765_ _Ft. William, Ont.(10 Issues)
434 &5'18,'28&'38
829__Fredericton, N. B
4
1948
829_01oucester, N B
5
1948
963_ _Goderich, Ont
5
1909-1928
690...Green Valley, Ont
963__ Grey County, Ont
4M
1038
830_ Guelph, Oht
5
1900-1922
765_ Halifax, N. S
4
1940
963.. Halifax, N. S
765...Hamilton, Ont
4
1938
765_ _Hamilton, Ont.
4
1928
963_ _ Hardisty S. D. No, 1659, Alta.._ 734
1918
696_ _Hemlock, Ont
963- Kaluz School District, Alta__ 73
1918
696..- Kenneth, N. B
696....Kenora, Ont
1937
766_ _Lacombe, Alta.(3 issues)
5M
983....Lacombe, Alta
5%
1933
766,_Lakefield, Ont
5
1009-1928
766.. _ Lakefleld. Ont
4% 1009-1928
831_ Lost River S.D.No.2071, Sask.
697_ _Luton S D. No. 2080, Sask
697....Margo, Sask
697__Markdale, Ont
5
1909-1938
964_ _Markdale, Ont
4%
1038
697__Mcdicine Hat, Alta
5
1009-1928
831....Montreal, Que.-Roman Catholic School District
892_ Morden, Man
5
1008-1027
831_ _Morton, Man
4
1928
697_ Motherwell, Ont
892_ _Nelson, B. C
5
1028
964_ Niagara Falls, Ont
5
1018
831-NInga Sch. Dist. No. 485, Man.. 6
1928
064 _ _011 Springs, Ont
5
1908-1917
893__Orillia, Ont
1028
43-f
064...Oxbow Protestant S. D., Sask. 6
1909-1038
698_ _Oxford, N.S
832_ _Peel County, Ont
4
1930-1936
832_ _Perth, Ont
1909-1938
5
965....Peterborough County, Ont
434 1009-1928
767_ _Pipestone, Man
1928
4
832 _Prince Edward Isl. (Prov. of)....4
1938
832-..Red Deer, Alberta (3 issues).
1009-1928
6
698- -Richfarms, Sask
833__Richmond, B. C
5
1928
1028
768_ _Richmond, B.0
6
768....St. Jean de la Croix S. D., Que. 5
1938
965_ _Saskatchewan, Prov. of (11 iss.) Var.
965_ _Sherbrooke, Que. (10 issues) _ _ 434
1933
698.. Simeon, Ont
965_ _South Vancouver, B. C
5
1958
966_ _Staymer, Quo
534 1909-1918
699_ Stratborne, N. S
4
1928
699.. Strathcona, Man
834_ Sudbury, Ont
1909-1918
5
895....Tilbury East Township, Ont
4M 1909-1913
770__Vancouver, B. C.(3 Issues)._ 4
1948
967. Vegreville, Ont. (2 Issues)
1928
6
967_ Vegreville, Ont
1018
63
895__Vermilion School District, Ont_ 634 1909-1938
835_ Walkerton, Ont
1009-1919
5
771 _ _West Toronto, Ont
5
1909 1918
896_ West Zorra Township, Ont_
4
835_ Wiarton, Ont
5
1009-1924
700...Willow Creek S. D. No. 2046,
Sask
967 _ _Wolseley, Sask
5
1909-1928
7
1909-1918
772.. Yellow Grass, Bask
5
1909-1928
772--York Township, Out
4
1909-1923
772_ _York Township, Out
5
1928
J68 _ _ York Township, Ont
700__Zelma S. D. No. 2070, Sask
Total
Amount, Price.
1,000
16,487
96.55
30,000
97.542
80,000
7,500
25,000
95.65
37,000
338,650
28,500
6,000 103.55
8,262
1,200
20,000
12,075 105.512
103,000
94.025
10,000
90,0001 96.954
80,0005
3,000
1,360
1,000
1,400
39,000
91.04
10,000
8,000
8,0001 97.05
3,067)
1,500
1,200
1,000
10,000
20,000
20,000
250,000
6,404
30,000
1,000
85,000
3,000
7,000
2,000
10,000
8.000
1,500
34,709
7,979
6,000
30,000
40,000
13,300
1,200
8,000
6,121
50,000
16,550
500,000
1.300
100,000
5,000
1,700
12,000
9,204
2,128
603,000
0,200
1,600
8,500
2.106
30,000
15,000
15,000
1,350
13,000
5.000
10,000
3,730
6.000
1,200
94.50
95.238
97.185
96.58
101.12
95.556
92.737
100
99.566
93
$3,006,435
REVISED TOTALS FOR PREVIOUS MONTHS.
The following items, included in our totals for previous
months, should be eliminated from the same, as the sales
have not been carried to corn pletion. We give the page
number of the issue of our paper in which the reason for the
failure to consummate the sale may be found.
Name of Municipality.
Page.
763...Albany County, N. Y (Juno list)
698_ _Roseburg, Ore. (August list)
804....Tempe Union High School District, Cal. (July list)
895__Warren County, N. Y (August list)
Amount.
$70,000
35,000
50,000
50,000
We have also learned of the following additional sales for
previous m Onths:
Name.
Maturity.
Rate.
Page.
1927
961_ _Alhambra School District, Cal__ 5
6
1918
828_ _ Baker City, Ore
1900-1918
43
061 _ _ Blackford County, Ind
d1928-1948
428_ _ Brownsville, Texas (2 issues)... 5
1909-1918
961_ _Carroll County, Ind.(2 issues)._ 43
434 1909-1918
961- _Cass County, Ind
434 1009-1918
961 -.Clay County, Ind
061_ _Clinton County, Ind. (3 issues).. 434 1909-1918
1909-1018
764__Davless County, Ind. (June)._ 41.
d1918-1948
5
764 Decatur, Texas
3M
1038
764„Detrolt, Mich
4 (119134918
890-Fannin County, Texas
1928
334
765„Franklin. N. /I
1909-1913
765-Gibson County, Ind. (July)-- 4
434 1909-1918
963- -Hamilton County, Ind
765-Hamilton County, Ind.(2 lss.) _ 4M 1909-1918
765_ _Hamilton County, Ind. (July). 434 1909-1918
1909-1918
765_ -Hancock County, Ind. (July)._ 43
765_ Huntington Co., Ind. (June)... 43.5 1909-1918
8
891._ Key West, Fla
4'4 1009-1913
963-Kosciusko County, Ind
1913
831-Loveland S. D. No. 2, Col.(JulY) 5
19094918
5
831_ _Luveme, Minn
1909-1918
M
4
964....Madison County, Ind
4 M 1909-1019
768- -Marlon County, Ind. (July)
4M 1009-1913
766-Marion County, Ind
3 M d1918-1923
367-Maryland, State of
1928
892....Matagorda County,Tex.(July).. 4
1900-1928
5
892--Midland, Pa
Various
4
892- _North Dakota (30 issues)
1013-1017
4
832_ _Polk County, Minn. (July)
1928
768 -.Quitman, Miss.(July)
1048
965-Rocky Mt. Road Dist., N. C..- 5
768 -.Sawyer Sch. Dist., Okla.(May).. 5
10094913
43
966.. _Steuben County, Ind
1910-1915
834_ -Surprise School District, Cal.-. 7
769_Tipton County, Ind. (July)- - - - 434 1909-1918
966-Tipton County, Ind. (3 Issues). 4M 1909-1918
d1913-1928
770--Union Public S. D. No. 1, Mo- 5
4% 1909-1028
967-Vigo County, Ind
4 M 1909-1928
770- -Wapakoneta, Ohio
4M 1910-1919
770.... Wapakoneta. Ohio
434 1909-1918
967_ _ Washington.County, Ind
Amount.
Price.
$60,000 103.11
3,1)55 101
7,635 100
60,000 100
11,596 100
15,022 100
10,240 100
10,880 100
33,440 100
4,250 100
75,000 z100
1,900 100
50.000
27,000 100.185
2,360 100
29,800 100
2,060 100
61,201 100
35,532 100
38,500
7,200 100.352
5,000
5,000 100
25,760 100
6,120 100
20,000 100.25
100,000 100.05
1,999 100
30,000
131,550 100
29,200
12,000 100.216
10,000 9100.28
2,000
95
11,500 100.304
• 3,000 107.50
2,960 100
33,020 100
5,000 103
3,400 100
10,000 103.06
14,000 102.107
8,750 100
THE CHRONICLE
OCT. 10 1908.J
Rate. Maturity.
Page.
Name.
d1918-1948
5
835_ _Whitesboro,1 exas(May)
771--Whitman Co. S. D. No. 122,
d1910-1918
6
Wash
771._ Wilsonville S. D. No. 30, Neb.. 5
1900-1923
771-- Winters Joint Un. H.S. D.,Cal_ 5
Amount.
7,500
6,000
10,000
30,000
Price.
100
100
100
101.35
All the above sales (except as indicated) are for August
These additional August issues will make the total sales (not
including temporary loans) for that month $18,644,646.
Bond Proposals and Nedotiations this week
have bean as follows:
Alhambra School District (P. 0. Alhambra), Los Angeles
County, Cal.-Bond Sale.-N. W. Harris & Co. of Los
Angeles have just advised us that they paid 103.11 and
accrued interest for $60,000 5% 18%-year (average) schoolhouse and site-purchase bonds bought by them on Aug. 31.
Denominations: $1,000, $2,000 and $3,000. Date Aug. 24
1908. Interest annual.
Anniston, Ala.-Price Paid for Bonds.-The price paid
for the $4,500 5% 10-year high-school-building bonds
recently disposed of to local investors (V. 87, p. 828) was
par. Denomination $100. Date Oct. 15 1908. Interest
Jan. and July.
Ashe County (P. 0. Jefferson), N. 0.-Bond Issue.-This
county has authorized the issuance of $100,000 railroad-aid
bonds. We are advised that these bonds will not be issued
until the railroad is completed to Jefferson and Creston, at
which time they will be delivered to the Virginia Southern
RR. Co. in payment for stock.
Averyville, Ill.-Bonds Offered by Bankers.-MacDonald,
McCoy & Co. of Chicago are offering for sale $5,000 5%
5-9-year (serial) building bonds. Date Oct. 1 1998. Interest semi-annually at treasury in Averyville. Denomination $1,000.
Balsam Township (P. 0. Balsam), Aitkin County, Minn.
-Bid Rejected.-A bid of par, less $400 expenses, was received on Sept. 15 from the Commercial Investment Co.
of Duluth for the $4,000 road and bridge bonds at not
exceeding 6% interest, described in V. 87, p. 494. This
offer was rejected. Through a letter received on Oct. 5
we further learn that these bonds are still unsold.
Barberton, Ohio.-Bond Election.-On Nov. 3 the voters
of this village will decide on the issuance of $50,000 bonds
for the purchase of Lake Anna and $19,000 for water extensions.
Benton County School District No. 31, Wash.-Bond
Sale.-On Sept. 26 this district accepted a bid of par for
5s submitted by the State of Washington for the $1,000
5-10-year (optional) coupon school-building bonds described in V. 87, p. 763. An offer of par for Os was also
received from Wm. D. Perkins & Co. of Seattle.
Blackford County (P. 0. Hartford City), Ind.-Bond
Sale.-Through a letter received from J. F. Wild & Co.
of Indianapolis we learn that they recently paid par for
$7,635 43.% Licking Township gravel-road bonds dated
April 6 1908. Maturity part yearly from one to ten years
inclusive.
Boissevain, Man.-Debenture Sale.-The $15,000 • 5%
1-30-year (serial) coupon electric-light-plant debentures
offered without success on Sept. 15 (V. 87, p. 889) have
been purchased by the Dominion Securities Corporation,
Ltd., of Toronto.
Boston, Mass.-Temporary Loans.-The following temporary loans have been negotiated by the city of Boston since
Jan. 1:
Date of IssueMeth 25 1908
Mch. 26 1908
Mch. 26 1908
Mch. 27 1908
Mch. 27 1008
May 1 1908
May 1 1908
May 1 1908
May 15 1908
May 20 1008
Aug. 10 1908
Sept. 12 1908
Sept. 28 1908
Total
Issued to
Banks
Bearer
Banks
Bearer
Banks
Bearer
46
.4
When Due.
Rate.
Amount.
4% flat *$250,000 Nov.,2 1908
4%
*500,000
*500,000
4% "
4% "
*100,000
41
4% "
*150,000
66
x150,000
334% ..
"
x100,000
3 li% "
x250,000 Nov.,p 1908
33.4% ::
1,000.000
334%
"
33,1%650,000
1,000,000 Nov..:1 1908
23.4%
1,000,000
,:,
24 9.::
750,000 Nov. 5 1908
234% "
$6,400,000
*Previously reported In V. 88, p. 871. x Previously reported In V. 86.
p. 1177.
Boulder, Boulder County, Colo.-Bond Sale.-This city
has sold $15,000 5% 6-15-year (optional) gold fire-station
bonds. Date July 1 1908. Interest semi-annually at the
City Treasurer's office.
Brant County (P. 0. Brantford), Ont.-Debenture Sale.On Oct. 2 this county disposed of $14,000 5% steel-bridge
debentures to Wood, Gundy & Co. of Toronto at 102.535
and accrued interest. Following are the bids:
Wood, Gundy & Co.,Toronto$14,355i Ontario Sec. Co., Toronto___$14,217
Geo. A. Stimson & Co. Tor_ 14,335 Aemllius Jarvis & Co., Tor__ 14,177
14,329 A. K. Bunnell, Brantford- 14,149
,
Wm, 0. Brent, Toronto-.-W.A. MacKenzie & Co., or. 14,288 A. E. Ames & Co., Toronto- 14,142
All bidders offered accrued interest in addition to their
bids. Date April 1 1908. Interest annual. Maturity part
yearly.
Brockville, Ont.-Debenture Sale.-The Dominion Seof Toronto was recently awarded
curities Corporation,
$673 38 22-year 4% coupon waterLtd.,
$2,780 28 23-year and
orks debentures. Interest semi-annually in Brockville.
961
Brunswick, Ga.-Bond Offering.-Proposals will be
received until 12 m. Dec. 1 by R. R. Hopkins, Mayor, for
$64,000 5% coupon bonds. These securities are the unsold portion of an issue of $300,000 bonds authorized in
1891 for sewerage and surface drainage and for refunding
outstanding bonds due Jan. 11909. Denomination $1,000.
Interest Jan. 1 and July 1 in New York City or Brunswick
at option of purchaser. Maturity Jan. 1 1921. Cashier's
or certified check for 2% of bonds bid for is required. Bonds
to be delivered not later than Dec. 10 1908.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Bullock County (P. 0. Union Springs), Ala.-Bond Election.-It is stated that an election will be held Nov. 3 to
vote on the question of issuing ponds to build permanent
good roads.
Caldwell, Canyon County, Idaho.-Bonds Not Sold.We are advised under date of Sept. 30 that no award has
yet been made of the $5,000 5% 10-20-year (optional)
gold coupon bridge-construction bonds which were advertised to be sold on Sept. 7. These securities are dated
July 1 1908 and are described in V. 87, p. 559.
Carroll County (P. 0. Delphi), Ind.-Bond Sale.-J. F.
Wild & Co. of Indianapolis have purchased the following
gravel-road bonds at par:
$8,600
% Jefferson Township bonds dated August 3 1908.
2,996 434 % Burlington Township bonds dated July 6 1908.
Maturity part yearly from one to ten years inclusive.
Cass County (P. 0. Marion), Ind.-Bond Sale.-$15,022
434% Washington and Tipton Townships gravel-road
bonds was disposed of on August 15 to J. F. Wild & Co.
of Indianapolis at par. Date July 10 1908. Maturity
part yearly from 1 to 10 years inclusive.
Cedarburg, Wis.-Bond Sale.-The $15,000 43% coupon
electric-light-plant-extension bonds voted on August 13
(V. 86, p. 495), were disposed of on Sept. 16 to the Farmers'
& Merchants' Bank of Cedarburg at 101.41. Denomination
$100. Date Sept. 15 1908. Interest annually at the
City Treasurer's office. Maturity $1,000 on March 15
1913 and $2,000 yearly on March 15 from 1914 to 1920
inclusive. Bonds are tax-exempt.
Central Falls, R. I.-Bonds Not Yet Sold.-We are informed under date of Oct. 8 that this city is still endeavoring
to dispose of the $200,000 4% 20-39-year (serial) gold coupon
refunding bonds bids for which were rejected (V. 87, p. 631)
on Aug. 31.
Chagrin Falls, Ohio.-Bond Offering.-Proposals will be
received until 12 m. Oct. 12 by H. D. Bishop, Village Clerk,
for $4,000 5% coupon water-main-extension bonds. Denomination $200. Date Oct. 1 1908. Interest semiannually at the office of the Chagrin Falls Banking Co.
in Chagrin Falls. Maturity $200 each six months from
April 1 1910 to Oct. 1 1919 inclusive. Bid must be made
on printed form furnished by the Village Clerk and accompanied by a certified check on a bank of Cuyahoga County
for 3% of bonds bid for, made payable to the Village Treasurer.
Chelan County School District No, 44, Wash.-Bond Sale.
-On Sept. 17 the State of Washington bought $2,600 3-5year (optional) building bonds of this district at par for 5s.
Securities are dated Sept. 17 1908. Interest annual.
Chippewa County (P. 0. Montevideo), Minn.-Bond
Offering.-Proposals will be received until 1 p. m. Oct. 15
by F. J. Rubertus, County Auditor, for the following 5%
bonds:
121.000 Judicial Ditch No. 2 construction bonds. Maturity $7,000 in 5
years, $7,000 In 8 years and $7.000 In 10 years.
50,000 County Ditch No. 11 construction bonds. Maturity $10,000
yearly from 6 years to 10 years Inclusive from date.
Interest semi-annual . Certified check for 5% of bonds
bid for is required.
Circleville, Pickaway County, Ohio.-Bonds Defeated.The election held Obt. 6 resulted in defeat of the proposition
to issue the $100,000 30-7ear sanitary-sewer-system-construction bonds mentioned in V. 87, p. 890.
Olarkesville, Habersham County, Ga.-Bonds Not Sold.
-Up to Oct. 2 no sale had yet been made of the $5,000 5%
20-year street-improvement bonds, proposals for, which
were asked (V. 87, p. 495) until Sept. 15.
Clay County (P. 0. Brasil), Ind.-Bond Sale.-$10,240
412% Van Buren and Dick Johnson Townships gravel-road
bonds have been awarded to J. F. Wild & Co. of Indianapolis at par. Securities are dated Jan. 15 1908 and mature
part yearly on Jan. 15 from 1909 to 1918 inclusive.
Clinton County (P. 0. Frankfort), Ind.-Bond Sale.gravel-road bonds have been bought
The following 4
by J. F. Wild & Co. of Indianapolis at par: $3,520 from
Owen Township, $3,840 from Owen and Warren Townships and $3,520 from Kirklin Township. The two former
issues are dated July 9 1908 while the Kirklin Township
issue is dated June 4 1908. Maturity part yearly from
one to ten years.
College School District, Santa Barbara County, Cal.Bond Sale.-The $2,500 6% 1-5-year (serial) bonds offered
962
THE CHRONICLE
on Sept. 8 (V. 87, p. 632) have been awarded to the Los
Angeles Trust Co. of Los Angeles at 102 and accrued interest.
Collinsville School District No. 32 (P. 0. Collinsville),
Rogers County, Okla.-Bond Sale.-This district has sold
$25,000 school bonds recently voted.
Coraopolis, Pa.-Bond Sale.-The $20,000 43'% 30-year
coupon street-improvement and sewer bonds for which
bids were asked until August 3 (V. 87, p. 301) have been
bought by the Safe Deposit & Trust Co. of Pittsburgh at
par and accrued interest.
Corlett, Ohio.-Bond Ofiering.-Proposals will be rereceived until 12 m. Oct. 27 by W. H. Jantzen, Village
Clerk, for the following 5% bonds:
$1.744 00 Frisble Avenue sewer bonds. Maturity Oct. 15 as follows:
$500 in each of the years 1911 and 1914 and $744 in 1918.
3.788 30 Harvard Street grading and sewer bonds. Maturity $500
Oct. 15 In each of the years 1910, 1912, 1914, 1915, 1016 and
.
1917 and $788 30 on Oct. 15 1918.
484 00 Harland Street sewer bonds maturing Oct. 15 1918.
425 00 Harvard Street sewer bonds maturing Oct. 15 1918.
Rice Avenue grading and sewer bonds. Maturity $1,000
. 1,700 00 Oct. 15 1013 and
$700 on Oct. 15 1918.
11.480 50 Rice Avenue sewer bonds. Maturity $1,000 yearly Oct. 15
from 1909 to 1917 Inclusive and $2,480 50 Oct. 15 1918.
Interest semi-annually at the office of the South Cleveland Banking Co. in Cleveland. Bid to be on a blank form
furnished by the Village Clerk and accompanied by a certified check for 5% of bid.
Oorunna School District, Mich.-Bond Offering.-Proposals will be received until 11 a. m. to-day (Oct. 10) for
$75,000 bonds offered but not awarded on Sept. 28. W. A.
Rosenkrans is Secretary of the School Board.
Council Bluffs, Iowa.-Bond Election.-On Oct. 24 this
city will vote on the question of issuing $600,000 bonds for
the construction of a water-works plant.
Covington, Ky.-Bond Election Proposed.-It is proposed
to hold an election to vote on the question of issuing school
bonds.
Cranston (P. 0. Station 31, Providence), Providence
County,R.I.-Bonds Awarded in Part.-Of the $100,000 4%
40-year gold coupon or registered school bonds mentioned
in V. 86, p. 993, $50,000 were sold on Oct. 5 to Blodget,
Merritt & Co. of Boston at par.
Darke County (P. 0. Greenville), Ohio.-Bond Sale.On Oct. 2 the two issues of 4%% coupon bonds, aggregating $71,500 (not $71,000 as at first reported), described
in V. 87, p. 829, were sold to the Greenville National Bank,
the Second National Bank and the Farmers' National
Bank, all of Greenville. The other bidders were as follows:
Hayden Miller& Co..Clev.$72,080 501 Well Roth & Co., Cincin471,678 00
Seasong'd da Mayer, Cin_ 71,958 00 Field, Longstreth & Co..
Cincinnati
Cent.Tr.& Safe D.Co..Cin. 71,786 00
71,675 00
Part of each issue matures every year from Oct. 2 1909
to and including Oct. 2 1913.
FDavis School District (P. 0. Davis), Murray County,
Okla.-Bond Sale.-This district has sold $18,000 schoolbuilding bonds recently voted.
it. Dickinson County (P. 0. Charlotte), Iowa.-Bond Sale.
-This county has awarded $10,000 5% 3-12-year (serial)
bonds dated April 1 1908 to the American Trust & Savings
Bank of Chicago.
Dorranceton (P.0. Wilkes-Barre),Pa.-Loans Authorized.
-This borough has passed ordinances providing for the
following loans:
$10.500 5% coupon street-Improvement bonds. Maturity $1,000 yearly
from 1909 to 1917 Inclusive and $1,500 in 1918.
kw
7.500 5% coupon street-Improvement certificates of indebtedness. 'Maturity five years, subject to call $500 yearly beginning In 1909.
Denomination $500. Interest semi-annual.
Douglas County (P. 0. Omaha), Neb.-Bond Offering.Proposals will be received until 12 m. Oct. 15 by D. M.
Haverly, County Clerk, for the $1,000,000 4% coupon
court-house construction bonds voted on May 5. Denomination $1,000. Date Oct. 1 1908. Interest semiannually in New York City. Maturity on Oct. 1 as follows:
$50,000 yearly from 1918 to 1927 inclusive and $500,000
in 1928. Official circular states the legality of this issue
has never been questioned; also that there has never been
any default in the payment of principal or interest.
Durand, ShiawasseeXCounty, Mich.-Bond Sale.-An
issue of $6,000 5% 15-20-year (serial) sewage-disposalplant bonds was recently sold to Chas. S. Kidder & Co. of
Chicago. Denomination $1,000. Date July 20 1908.
Interest semi-annually at the Union Trust Co. of Detroit.
East Cleveland (P. 0. Station J, Cleveland), Ohio.-Bond
Qllering.-Proposals will be received until 2 p. m. Oct. 12
by K. F. Leet, Village Clerk, for $15,500 4% coupon watermain-extension bonds. Authority Sections 2835 and 1536288, Revised Statutes. Denomination $500. Date May 1
1908. Interest semi-annually at the Superior Savings dr
Trust Co. in Cleveland. Maturity May 1 1928. Certified
check for 10%, payable to the Village Treasurer, is required.
pl. Edmonton Public School District No. 7(P. 0. Edmonton),
Alberta.-Debenture Sale.-On Sept. 10 the $80,000 5%
coupon school-building bonds described in V. 87, p. 430,
were awarded to the Ontario Securities Co. of Toronto
at 97.542 and accrued interest. Following are the bids:
Ontario Sec. Co., Toronto..478.034 Montreal Tr.83Dep.Co.,Mont476,400
Geo. A. Stimson 83 Co.. Tor.. 78,000 National Trust Co., Edmont'n 76.058
A. E. Ames 63 Co., Toronto 76.584 AemIllus Jarvis & Co.. Tor_ 75.824
Imperial Bank. Toronto-- 78,408
Lxxxvii.
El Centro,Imperial County, Cal.-Bond Election.-On Oct.
12 this town will vote on the question of issuing the $40,000
6% sewer bonds mentioned in V. 87, p. 890. Maturity one
bond yearly for twenty years.
Emard, Quebec.-Debenture Sale.-The Secretary-Treasurer has advised us that $37,000 5% 30-year refunding
bonds were awarded to D. W. and E. A. Brunet at 95.65.
Denomination $1,000. Date May 1908. Interest semiannual.
Enterprise, Ore.-Bond Offering.-Proposals will be
received until 12 m. Oct. 20 by W. E. Taggart, City Recorder, for $30,000 5% water-works bonds. Date Oct. 1
1908. Interest semi-annual. Maturity twenty years, subject to call after ten years. This city has no debt at present.
Eyota Olmsted County, Mimi -Bond Sale.-The First
National
'Bank of Eyota was the suceessful bidder on Sept.
22 for the $2,000 electric-light and $1,000 village-hall and
jail 5% 1-20-year (serial) coupon bonds dated Oct. 1 1908
and described in V. 87, p. 765. The price paid was par.
Falls County (P.0. Marlin), Tex.-Bond Sale.-On Oct. 1
the $50,000 5% 10-40-year (optional) bridge-building
bonds described in V. 87, p. 829, were awarded to •Wooclin,
McNear & Moore of Chicago at 105.03 and accrued interest
-a basis of about 4.376% to the optional date and about
4.72% to full maturity. The securities are in denomination of $1,000 each, are dated August 10 1908, and were
registered by the State Comptroller on Sept. 30. A bid
of $52,052 and interest was also received from the Wm. R.
Compton Bond & Mortgage Co. of St. Louis, while A. B.
Leach & Co. of Chicago offered to take the bonds for $52,008
and accrued interest. .
Findlay School District (P. 0. Findlay), Ohio.-Bond 01lering.-Proposals will be recevied until 12 m. Oct. 15 by
0. H. Saunders, Clerk Board of Education, for $12,000 4%
coupon school-building-repair bonds. Authority Section
3994, Bates' Revised Statutes. Denomination $1,000.
Date Oct. 15 1908. Interest semi-annually at the Chase
National Bank in New York City. Maturity $1,000 yearly
on Oct. 15 from 1916 to 1927 inclusive. Bonds are free from
all taxes.
Flint, Mich.-Bonds Not Yet Sold.-The $130,000 4%
water refunding bonds offered without success on August 24
(V. 87, p. 560) are still unsold.
Fort Erie Ont.-Debenture Election.-An election will be
' 14 for the purpose of voting on a proposition
held on Oct.
to issue $10,000 5% public-school debentures maturing
part yearly for twenty years.
Fostoria, Ohio.-Bond Offering.-Proposals will be received until 12 m. Oct. 12 by J. T. Yant, City Auditor, for
the following 4M% bonds:
$11,000 Centre Street improvement bonds. Denominations $1,000, $600
and $400. Maturity on March 1 as follows: $2,000 yearly from
1909 to 1911 inclusive: $1,400 In 1912, $1,000 yearly from 1913 to
1915 inclusive and $600 In 1916.
2,800 Fremont Street Improvement bonds. Denominations 31,000. $600
and $100. Maturity on March I as follows: $1.100 In each of the
years 1909 and 1910 and $600 In 1011.
10,000 County Line Street improvement bonds. Denominations $1,000.
$900 and $100. Maturity on March 1 as follows: $2,000 yearly
from 1909 to 1911 inclusive, $1,100 In 1912, $1,000 In each of the
years 1913 and 1914 and $900 In 1915.
7,800 East High Street improvement bonds. Denominations $1,000.
$500 and $300. Maturity on March 1 as follows: $1,500 yearly
from 1909 to 1911 inclusive. 31,000 from 1012 to 1914 inclusive
and $300 In 1915.
Authority Section 2835, Revised Statutes, and Section 53,
Municipal Code. Date, day of sale. Interest semi-annual.
Bid to be made on each issue separately and be accompanied
by a certified check for 3% of bonds bid for, made payable
to the City Treasurer. Purchaser to pay accrued interest.
Delivery ten days from time of award.
Framingham, Mass.-Bids.-The following bids were
received on Oct. 1 for the $40,000 4% 1-20-year (serial)
coupon school bonds awarded on that day, as stated in
V. 87, p. 891 to E. M. Farnsworth & Co. of Boston at
103.34-a basis of about 3.615%;
R. L. Day & Co., Boston--__102.849
Adams 83 Co. Boston
102.78
Biodget, Merritt & Co., Bost.102.662
Estabrook & Co., Boston
102.575
Blake Bros. ec Co., Boston_..102.54
Perry, Coffin & Burr, Boston.102.409
Moffat & White, New York--102.177
Crocker & Fisher, Boston _-_102.17
Merrill, Oldham & Co., Bost_101.85
C. E. Denison 8: Co., Boston.101.61
N. W. Harris & Co.. Boston_101.27
B. H. Rollins & Sons, Boston 100.667
Fresno County (P. 0. Fresno), Cal.-Bond Election.-On
Nov. 3 the electors will vote on the question of issuing $100,000 bonds to build a new Hall of Records.
Frio County Common School Districts, Tex.-Bonds
Registered.-The following bonds were registered by the
State Comptroller on Sept. 26:
34.800 Common School District No. 2 bonds.
3.000 Common School District No. 15 bonds.
1,600 Common School District No. 4 bonds.
These securities carry 4% interest and mature in twenty
years but are subject to call after fifteen years.
Fruitvale School District, Alameda County, Cal.-Bond
Sale.-On Sept. 28 the First National Bank of Oakland
was awarded the $100,000 5% 1-20-year (serial) schoolbuilding bonds at 104.155-a basis of about 4.50%. Following are the bids:
First Nat. Bank, Oakland_3104.1551N. W. Halsey & Co.. San
State Board of Examiners- 104,150
Francisco
$102,005
Union Savings Bank. OakI'd 102,750 Central Bank, Oakland101.805
Authority election held August 22. See V. 87, p. 632.
.. Maturity part yearly on July 16 from 1909 to 1938 inclus- Denomination $1,000. Date Oct. 15 1908. Interest Jan.
ive.
15 and,July115.
OCT. 10 1908.1
THE CHRONICLE
Gage School District No. 39 (P. 0. Gage), Okla.-Bond
Sale.-On Oct. 1 this district disposed of $20,000 6%
school-building bonds at 101.25 to Spitzer & Co. of Toledo.
Denomination $500. Date Oct. 1 1908. Interest Jan.
and July. Maturity $7,000 in each of the years 1919
and 1924 and $6,000 in 1929.
Galveston,Tex.-Bond Sale.-On Sept. 30 the $25,000 5%
public-school-house bonds described in V. 87, p. 560, were
awarded to E. A. Toebelman of Galveston at 100.935 and
accrued interest. The bonds "are redeemable within twenty
years after their issuance."
Genesee Independent School District No.2(P.0.Genesee),
Idaho.-Bonds Not Sold-Bond Offering.-No sale was
made on Sept. 7 of $5,000 bonds offered on that day. Proposals are again asked for these bonds and will be received,
this time, until Oct. 24.
Georgia (State of).-Temporary Loan.-This State has
borrowed $50,000 in anticipation of collection of taxes from
the Fourth National Bank of Atlanta.
Glendive, Dawson County, Mont.-Bond Election.We are advised that the election to vote on the issuance
of the $15,000 water-extension bonds at not exceeding
6% interest, mentioned in V. 87, p. 561, will be held on
Oct. 19.
Glen Ridge School District (P. 0. Glen Ridge), Essex
County, N. J.-Bond Sale.-On Oct.6 Kountze Bros. of New
York City were awarded the $18,000 434% coupon school
bonds described in V.87, p.891, at 103.68. Five other bids
were also received. Maturity $3,000 yearly on Sept. 1
from 1928 to 1932 inclusive and $1,500 on Sept. 1 in each
of the years 1933 and 1934.
Goderich, Ont.-Debenture Sale.-Local improvement debentures to the amount of $8,262 have been purchased by
Geo. A. Stimson & Co. of Toronto. The securities carry
5% interest, are dated 1908, and mature part yearly from
1909 to 1928 inclusive.
Greensburg, Westmoreland County, Pa.-Bond Sale.This borough on Sept. 21 awarded the $50,000 4% 30-year
coupon bonds described in V. 87, p. 765, to the Penn Mutual
Life Insurance Co. of Philadelphia at par and accrued
interest.
Grey County (P.O. Owen Sound), Ont.-Debenture Sale.This county recently sold $20,000 434% 30-year water-workssystem debentures to Wood, Gundy & Co. of Toronto.
Halifax, N. S.-Debenture Sale.-The $10,000 sidewalk
debentures mentioned in V. 87, p. 561, have been purchased
by J. C. Mackintosh & Co. of Halifax at 94.025 and interest.
Up to Oct. 6 the $25,000 sewer debentures had not been
disposed of.
Hamilton, Ohio.-Bond Offering.-Proposals will be received until 12 m. Oct. 15 by H. A. Grimmer, City Auditor,
for the following 4% coupon bonds:
$20,000 storm-sewer bonds maturing Sept. I 1928.
25,000 street-Improvement bonds maturing Sept. 1 1928.
50.000 water-works improvement bonds maturing Sept. 1 1033.
The above bonds are in denomination of $500 each and
are dated Sept. 11908. Interest semi-annually at the City
Treasurer's office. Bid to be made on each issue separately
and be accompanied by a certified check for 5% of bid,
made payable to the City Treasurer. Bonds to be delivered
within ten days from the time of award. Purchaser to pay
accrued interest.
In addition to the above, proposals will also be received
at the same time and place by H. A. Grimmer, City Auditor,
for the following 43/2% assessment bonds:
$4,532 10 Black Street Improvement bonds dated Aug. 1 1908.
4,195 90 North "E" Street impr vement bonds dated Sept. 1 1008.
Interest semi-annually at the City Treasurer's office.
Part of each issue matures yearly for ten years. Certified
check for 5% of bid, payable to the City Treasurer, is required. Bonds to be delivered within ten days from time
of award.
Hamilton County (P. 0. Noblesville), Ind.-Bond Sale.2% Washington Township gravel-road bonds
$2,360 41
/
were recently disposed of at par to J. F. Wild & Co. of
Indianapolis. Date May 16 1908. Maturity part yearly
fram one to ten years inclusive.
Hardisty School District No. 1659 (P. 0. Hardisty), Alberta.-Debenture Sale.-Nay & James of Regina have
purchased $3,000 VA% 10-year school-building debentures
of this district.
Harrison County (P.0. Gulfport), Miss.-Bond Election.Reports state that an election will be held Nov. 3 to vote on
the question of issuing $50,000 general road-improvement
and bridge bonds.
Hartford, Conn.-Northwest School Dist.-Bond Sale.The $95,000 bonds (the unsold portion of the issue of $170,000 4% 30-year gold funding bonds mentioned in V. 87,
p. 561) were sold on Sept. 1 to the Travelers' Insurance Co.
of Hartford at par and accrued interest.
Haverhill, Mass.-Temporary Loan.-We are informed
that the loan of $45,000 recently negotiated with Bond &
Goodwin of Boston was made at 4.08% discount. Maturity Dec. 29 1908.
Hawthorne School District No. 99 (P. 0. Hawthorne),
Ill.-Bond Sale.-On Sept. 30 $10,000 454% 3-12-year
(serial) school-house bonds were disposed of to the Trow-
963
bridge & Niver Co. of Chicago at 101.07-a basis of about
4.332%. A list of the proposals received follows:
Trowbridge & Nlver Co,
Woodin, McNear & Moore,
Chicago
$10,075 00
Chicago
$10,107 00
C. H. Coffin, Chicago....__ 10,101 00 MacDonald,McCoy & Co..
Mason, Lewis do Co..
10.025 00
Chicago
Chicago
10,010 00
10,087 50 S. A. Kean, Chicago
A bid was also received from A. B. Leach & Co. of Chicago.
Denomination $1,000. Date Oct. 1 1908. Interest semiannual.
Hillyard, Wash.-Bonds Not Sold.-This city is still on
the market with $50,000 water bonds which failed to sell
on Sept. 1.
Iola City, Kan.-Bond Sale.-Spitzer & Co. of Toledo,
offering 100.25, were the successful bidders for $65,000 6%
1-10-year (serial) internal-improvement bonds. Denomination $500. Date Aug. 1 1908. Interest semi-annual.
Janesville, Wis.-Bids Rejected.-All bids received on
Oct. 1 for the $45,000 4% coupon main-outlet-sewer bonds
offered on that day (V. 87, p. 765) were rejected. Denomination $500. Date Oct. 11908. Interest Jan. 1 and July 1
at the City Treasurer's office. Maturity $2,500 yearly on
July 1 from 1910 to 1927 inclusive.
Jewett, Harrison County, Ohio.-Bond Sale.-The $1,650
5% street-piking bonds described in last week's issue, were
sold on Oct. 6 to the Jewett Bank of Jewett for $1,661the price thus being 100.666. A bid of $1,653 75 was also
received from Hayden, Miller & Co. of Cleveland. Maturity
$150 each six months from March 1 1909 to Sept. 1 1912
inclusive and $450 on March 1 1913.
Kali= School District No. 1631 (P. 0. Chipman),Alberta.
-Debenture Sale.-An issue of $1,000 VA% 10-year schoolbuilding debentures has been sold to Nay & James of Regina.
Kalamazoo, Mich.-Bond Sale.-On Oct. 3 $46,600 bonds
were awarded to Farson, Son & Co. of Chicago at 100.502
and accrued interest. The bids were as follows:
Farson,Son & Co., Chicago__$46,834 1 Rud. Kleybolte&Co.,Inc.,Ch_$26,651
A. B. Leach & Co.. Chicago.- 46,670 Devitt, Tremble & Co., Chic_*26,600
Wollenberger & Co.,Chicago_ 46,661 A. F. Willey, Grand Rapids
14,600
(for $14.500 bonds)
al
* Less $466 for blank bonds, attorney's fees, &e.
All bidders offered accrued interest in addition to their bids.
Kansas City School District (P.0. Kansas City), Jackson
County, Mo.-Bond Sale.-This district has disposed of
the $91,000 bonds-the unsold portion of the issue of $600,-000 4% 20-year gold coupon school-building bonds mentioned in V. 87, p. 116.
Keewanee, Keewanee County, Wis.-Bond Sale.-On '
Oct. 6 the $20,000 5% 1-20-year (serial) coupon lightingplant-installation bonds described in V. 87, p. 891, were
awarded to the Harris Trust & Savings Bank of Chicago at,
105.08 and accrued interest-a basis of about 4.391%. Following are the bids:
Harris Trust & Say. Bank,
$21,016 00
Chicago
MacDonald, McCoy & Co..
20,865 00
Chicago
20,820 00
S. A. Kean, Chicago
Wollenberger & Co., Chic. 20,747 00
Trowbridge & Niver Co.,
20,727 00
Chicago
A. B. Leach & Company,
$20,614 00
Chicago Farson. Son & Company,
20,530 00
Chicago
Thos.J.Bolger & Co.,Chic. 20.431 25
Well, Roth & Co. Cincin_ 20,414 00
Mason, Lewis& Company,
20,304 00
Chicago
Kosciusko County (P. 0. Warsaw), Ind.-Bond Sale.An issue of $7,200 4% Seward Township school-house'
bonds was recently disposed of. The securities were
bought by J. F. Wild & Co. of Indianapolis for $7,225-the
price thus being 100.352. Date Sept. 1 1908. Maturity
part yearly on Sept. 1 from 1909 to 1913 inclusive.
Lacombe, Alberta.-Debenture Sale.-This town recently
awarded $8,000 5M% 25-year permanent-improvement
debentures to Nay & James of Regina.
Laurens, Laurens County, So. Caro.-Bond Offering.Proposals will be received until 12 m. Oct. 15 by W. H.
Gilkerson, City Clerk and Treasurer, for $24,000 5% coupon
street-improvement bonds. Authority vo e of 73 to 8
at election held Sept. 19. Interest semi-annual. Maturity thirty years.
Lincoln, Neb.-Bond Sale.-The $16,003 refunding bonds
offered on Oct. 5 (V. 87, p. 766) attracted the following list
of bidders:
W.E.Barkley,Jr.,Lincoln-- .$16,376
Wm. R. Compton Bond &
Mortgage Co., St. Louis-. 16,369
Bud. Kleybolte Co., Inc.,N.Y. 16,321
F. and M. Bank, Lincoln-- 16.320
Hants Tr. 63 Say. Bank,ChIc.$16,262
N. W. Halsey & Co., N. Y___ 16,181
E. H.Rollins & Sc, s, Boston. 16.151
16,081
C. H. Coffin, Chicago
Brighton-German Ba k, Cin_ 16,010
The above bids were all made for 432% bonds.
Little Rock, Ark.-Bond Sale.-According to local papers,
the Commissioners of West Third Street Improvement District are negotiating for the sale of $30,000 paving bonds.
Logan, Ohio.-Bond Offering.-Proposals will be received
until 12 m. Oct. 12 by F. C. Grone, Village Clerk, for $7,000
4% sewer-construction bonds. Authority Section 2834,
Revised Statutes. Denomination $1,000. Date Oct. 5
1908. Interest annual. Maturity $1,000 yearly on March 5
from 1911 to 1917 inclusive. Certified check for 10% of
bonds bid for, payable to the Village Treasurer, is required.
Purchaser to pay accrued interest. Delivery within ten
days from time of award.
Lone Tree School District, Kern County, Cal.-Bond
Offering.-Reports state that proposals will be received
until 10 41,. m. to-day (Oct. 10) by H. A. Jastro, Chairman
Board of County Supervisors, for $10,000 6% bonds. De-
964
THE CHRONICLE
[VoL. Lxxxvii.
nomination $500. Interest annually on Dec. 30. Maturity $2,000 yearly from 11 years to 15 years inclusive.
Certified check for 10% required.
Los Angeles County (P. 0. Los Angeles), Cal.-Bond Offering.-Proposals will be received until 2 p. m. Nov. 2 by
the Board of County Supervisors, C. G. Keyes, ex-officio
Clerk, for $3,500,000 4
gold highway bonds. Denomination $1,000. Date Oct. 1 1908. Interest semi-annually
at the County Treasury or at the banking house of Kountze
Bros. in New York City at option of purchaser. Maturity
$100,000 yearly on Oct. 1 from 1914 to 1948 inclusive. Certified check or cashier's check on some bank in Los Angeles Co.
for $50,000, payable to the Chairman Board of County
Supervisors, is required. Delivery $350,000 on Dec. 1 1908
or as soon thereafter as bonds are ready; $350,000 on Feb. 1
1909; $700,000 on Nov. 1 1909; $700,000 on July 1 1910;
$700,000 on Jan. 3 1911, and $700,000 on July 3 1911.
These securities take the place of the $3,500,000 bonds recently disposed of at private sale, the award of which was
subsequently rescinded, as explained by us in V. 87, p. 892.
Louisville, Jefferson County, Ky.-Bond Sale.-We are
informed under date of Oct. 2 that the $50,000 bonds
(the unsold portion of the issue of $1,000,000 4% Louisville
Water Co. gold coupon mortgage bonds mentioned in
V. 87, p. 116) have been disposed of at par and accrued
interest.
Lowood School District, Siskiyou County, Cal.-Bond
Offering.-It is stated in local papers that proposals will
be received until 12 m. Nov. 9 by Abner Weed, Chairman
Board of County Supervisors, for $1,000 6% bonds. Denomination $100. Date Oct. 1 1908. Interest annual.
Maturity $100 yearly on Oct. 1 from 1909 to 1918 inclusive.
Lucas County (P.0.Toledo), Ohio.-Bond Offering.-Proposals will be received until 10 a. m. Oct. 14 by D. T.Davies,
Jr., County Auditor, for $20,000 5% road-building bonds.
Authority Section 4670-14, Revised Statutes. Denomination $500. Interest semi-annually at the County Treasurer's
office. Maturity $4,000 yearly from one to five years inclusive from date of issue. Certified check for $500 on a
bank doing a regular banking business in Toledo is required.
Delivery Oct. 26 1908. Purchaser to pay accrued interest.
Macdoel School District, Siskiyou County, Cal.-Bond
fering.-It is stated that proposals will be received until
12 m. Nov. 9 by Abner -Weed, Chairman Board of County
Supervisors, for $5,000 6% bonds. Denomination $500.
Date Oct. 1 1908. Interest annual. Maturity $500 yearly
on Oct. 1 from 1909 to 1918 inclusive.
Madison County (P. 0. Anderson), Ind.-Bond Sale.Monroe Township gravel-road bonds to amount of $25,760
and carrying 43/2% interest were recently sold to J. F. Wild
& Co. of Indianapolis at par. Date Aug. 15 1908. Maturity part yearly from one to ten years.
Madisonville (P. 0. Station M, Cincinnati), Ohio.Bonds Not Sold.-No sale has yet been made of the $3,114 93
4% sidewalk-construction-assessment bonds offered on
Sept. 25 and described in V. 87, p. 562.
Madisonville School District (P. 0. Ind. Station M, Cincinnati), Ohio.-Bond Sale.-On Oct. 3 the $25,000 (Series
B)4% (not 4
as at first reported) 30-year coupon building bonds described in V. 87, p. 831, were awarded to Field,
Longstreth & Co. of Cincinnati at 101.31 and accrued interest-a basis of about 3.926%. Following are the bids:
Martin County (P. 0.Fairmont), Minn.-Bond Offering.Proposals will be received until 1 p. m. Oct. 15 by H. P.
Edwards, County Auditor, for $20,852 81 Judicial Ditch
No. 2 drainage bonds at not exceeding 6% interest. Authority Chapter 448, Laws of 1907. Denomination $1,500,
except one bond for $1,352 81. Interest annually at Fairmont. Maturity $1,500 yearly from 1913 to 1925 inclusive
and $1,352 81 in 1927. Certified check for $500, payable to
the County Treasurer, is required. Purchaser to furnish
blank bonds.
Marysville, Okla.-Bond Sale.-This city has awarded
$11,000 6% 20-year bonds to R. J. Edwards of Oklahoma
City. Denomination $500. Date July 1 1908. Interest
semi-annual.
Maysville. School District (P. 0. Maysville), Okla.-Bond
Sale.-This district recently disposed of $11,000 6% schoolbuilding bonds to R. J. Edwards of Oklahoma City at par
plus the cost of attorney's expenses. Denomination $500.
Date Sept. 1 1908. Interest January and July. Maturity
July 1928.
Mesa, Maricopa County, Ariz.-Bond Sale.-The Mesa
City Bank of Mesa has bought an issue of water-works bonds
for $50,250.
Miami, Dade -County, Fla.-Bond Offering.-Proposals
will be received until 8 p. m. Oct. 15 for the following 5%
bonds: $20,000 for sewers, $15,000 for improving the
streets, $20,000 for a city building, and $15,000 for parks
and promenades. These securities are the unsold portions
of an issue of $100,000 bonds. Denomination $1,000. Date
July 2 1906. Maturity July 2 1936. Certified check for 2%
of bid, payable to F. H. Wharton, Mayor, is required.
Montgomery County (P. 0. Dayton), Ohio.-Bond Sale.
-The Dayton Savings & Trust Co. of Dayton was the
successful and only bidder on Oct. 1 for the $3,900 4%
coupon Sycamore Ditch improvement bonds described in
V. 87, p. 831. The price paid was par and accrued interest.
Maturity part each year beginning 1909.
Murdo Independent School District (P.0. Murdo), Lyman
County,S.D.-Bond Sale.-The $3,000 10-20-year (optional)
and the $4,000 20-year 6% coupon building bonds for which
bids were asked until Sept. 18 (V. 87, p. 766) have been sold.
Nassau County (P. 0. Mineola), N. Y.-Bond Sale.This county has disposed of $140,000 bonds at par and accrued
intrest as follows: $20,000 to the Freeport Bank, $5,000
to the Nassau Union Bank, $25,000 to the Hempstead Bank,
$5,000 to N. W. Halsey & Co. of New York City, $20,000
to the Glen Cove Bank,$15,000 to W.E. Luyster and $50,000
to the Riverhead State Bank. These securities are part
of the issue of $250,000 5% road bonds, $110,000 of which
were sold on Aug. 24 to Adams & Co. of New York City
(V. 87, p. 633) for $118,100, the price thus being 107.363.
Niagara Falls; Ont.-Debenture Sale.-This city has
sold $3,000 5% collegiate-improvement debentures due
in ten years. Wood, Gundy & Co. of Toronto were the
successful bidders.
Norfolk County (P. 0. Portsmouth), Va.-Bond Offering.
-Proposals will be received until 12 m. Oct. 13 by Alvah
H. Martin, County Clerk, for $200,000 OM coupon roadimprovement bonds. Authority an Act of the General
Assembly approved March 111908. Denomination $1,000.
Date July 1 1908. Interest semi-annually at the County
office. Maturity twenty years. Bonds are
Field, Longstreth & C0_425,327 50 Well, Roth & Co
$25,201 00 Treasurer's
Cent. Tr. & Safe Dep. Co. 25,317 50 Western-German Bank_- 25,191 00 exempt from county taxes. Certified check for $5,000, paySeasongood & Mayer
25,278 80 Brighton-German Bank
25,181 25
to the County Treasurer, is required.
Prov. Say. Bk.& Tr. Co_ 25,257 00 Edgar Friedlander
25,170 25 able
Albert Kleybolte & Co
25,250 00 Rudolph Kleybolte Co.
Northfield, Vt.-Bond Sale.-The $6,500 334% coupon
National
Fifth-Third
Bank 25,213 50 • Inc
25,150 00
water bonds mentioned in V. 86, p. 1299, have been disposed
The above bidders are all from Cincinnati.
of locally at par and interest.
Malta, Ohio.-Bond Sale.-We are informed that on
Oconto School District (P. 0. Oconto), Neb.-Bond Sale.
Sept. 21 the Malta National Bank of Malta was awarded -On Oct. 1 E. C. House of Broken Bow
was awarded
the following 5% improvement bonds at 108.525:
$3,500 6% 20-year school-house bonds at 106.021-a
$500 1-5-year (serial) Main Street bonds. Denomination $100.
1,500 18-1R-year (serial) Main Street (village's portion) bonds. De- basis of about 5.50%. The bids were as follows:
nomination $500.
The above bonds are dated Sept. 11908. Interest annual.
Manchester, N. H.-Temporary Loan.-This city has negotiated a loan of $50,000, it is stated, with William A. Read
& Co. of Boston at 2% discount and $1 premium. Loan
matures in 60 days.
Mansfield, Ohio.-Bonds Authorized.-The City Council
has passed an ordinance, according to local papers, providing
for the issuance of $4,500 sidewalk-construction bonds.
Bonds Authorized.-The City Council on Sept. 1 also
passed an ordinance providing for the issuance of $1,000
5% coupon sidewalk-improvement bonds. Denomination
$100. Date Sept. 1 1908. Interest semi-annually at the
City Treasury. Maturity $200 yearly on Sept. 1 from
1909 to 1913 inclusive.
Marcellus, Onondaga County, N. Y.-Bond Offering.Proposals will be received until 7:39 p. m. Oct. 12 by F. W.
Knapp, Village Clerk, or at the office of Martin F. Dillon in
Skaneateles, for the $25,000 registered water-works bonds
mentioned in V.87, p. 831. Denomination $1,000. Maturity $1,000 yearly on Oct. 1 from 1913 to 1937 inclusive.
Bonded debt, this issue. Assessed valuation $400,000.
Markdale, Grey County, Ont.-Debenture Sale.-Debentures to the amount of $20,000 were recently awarded to
Wood, Gundy & Co. of Toronto. The securities carry
interest at the rate of 434% and mature in thirty years.
1. C. House, Broken Bow-$3,710 751G. H. Rogers, Lincoln.--$3,550 00
L. A. Robinson, Oconto--- 3.805 00 Peter's Trust Co., Omaha_ 3,500 00
Denomination $1,000 or $3,500. Date Dec. 1 1908.
Interest semi-annual.
Oil Springs, Ont.-Debenture Sale.-Geo. A. Stitnson
Co. of Toronto have been awarded $2,000 5% debentures
issued as a bonus to a flax mill. Date 1908. Maturity part
yearly from 1908 to 1917 inclusive.
Orleans County (P. 0. Albion), N. y.-Bond Offering.The County Treasurer is offering at private sale $31,703 44
5% registered good roads bonds. Interest payable at the
Citizens' National Bank in Albion.
Ossining Union Free School Distri ct No. 1 (P. 0. Ossining), Westchester County, N.'1.-Bond fering.-Proposals
will be received until 11 a. m. Oct. 15 by the Board of Education, Frank G. Wood, Clerk, for $12,000 5% coupon highschool-building-addition bonds. Authority Section 1 0, Title
8, Consolidated School Law. Denomination $1,000. Date
July 1 1908. Interest annually in New York exchange
at the District Treasurer's office. Maturity $6,000 on July 1
in each of the years 1926 and 1927. Bonds are tax-exempt.
Certified check, cash or bank draft for 10% of bonds bid for,
payable to the District Treasurer, is required.
Oxbow Protestant Public School District (P. 0. Oxbow),
Sask.-Debenture Sale.-The $8,000 debentures advertised
OCT. 10 1908.j
THE CHRONICLE
to be sold Aug. 15 (V. 87, P. 368) have been awarded as 6s
to Wm. C. Brent of Toronto. • Maturity part yearly for
thirty years.
Parke County (P. 0. Rockville), Ind.-Bond Sale.Miller Adams & Co. of Indianapolis purchased on Sept. 8
$11,130 50 432% Howard Township bonds at par. Denominations $556 52 and $556 53. Date Sept. 8 1908.
Interest May 15 and Nov. 15. Maturity part each six
months from May 15 1909 to Nov. 15 1918 inclusive.
Peoria, Ill.-Bond Offering.-Proposals will be received
until 5 p. m. Oct. 12 by Walter J. Murray, City Comptroller,
for $50,000 4% coupon bridge bonds. Denomination
$1,000. Date Nov. 1 1908. Interest semi-annually in
Feb. and Aug. at the City Treasurer's office. Maturity
$5,000 in even years from Aug. 1 1910 to Aug. 1 1928 inclusive. Certified check on a national bank for $1,000,
made payable to the City Comptroller, is required.
Peterborough County (P. 0. Peterborough), Ont.-Debenture Sale.-Brouse, Mitchell & Co. of Toronto have
bought the $6,000 43% bridge-construction debentures
mentioned in V.87, p.369,at 101.12. Maturity part yearly
on Oct. 2 from 1909 to 1928 inclusive.
Philippi, Barbour County, W. Va.-Bonds Awarded in
Part.-Of an issue of $16,000 5% 10-15-year (optional) watersupply-improvement bonds, $6,000 was sold on Sept. 8 to
Jno. F. Nyedeggan of Elkins at 106.10-a basis of about
4.246% to the optional date and about 4.439% to full maturity. Denomination $1,000. Interest annual.
Pincher Creek, Alberta.-Debentures Not Sold.-The $20,000 5% 20-year local-improvement debentures proposals for
which were asked until Sept. 15 (V. 87, p. 698) have not yet
been sold.
Pittsburgh, Pa.-Bond Sales.'-.The Sinking Fund Commission has purchased $800,000 of the Filtration Loan of
1904 332% bonds. These bonds are issued as the work
progresses and form part of the $5,000,000 authorized in
1904, of which $533,600 remains to be issued and will be
issued next year. The Sinking Fund Commission has also
purchased $25,000 43% 1-30-year (serial) registered public
health bonds authorized last May.
Port Chester, N.'Y.-Bond Sale.-On Oct. 5 the three issues of 432% bonds, aggregating $57,109 05, and the eleven
issues of 5% bonds aggregating $43,605 49, described in
V. 87, p. 893, were awarded to Kountze Bros. at 101.77.
Portsmouth, Scioto County, Ohio.-Bond Sale.-On Oct.6
the $17,000 4% 14-year coupon street-improvement bonds
described in V. 87, p. 893, were awarded to Otis & Hough of
Cleveland at 100.761 and accrued interest. Following are
the bids:
Otis & Hough, Cleveland_$17,129 50
Western-German Bk..Cin. 17,105 60
Secur.S.B.&Tr.Co.,Ports__ 17,101 50
First Nat. Bk., Portam'th. 17,090 95
Fifth-Third Nat. Bk., Cin.$17,062 00
Alb. Kleybolte & Co., Cin. 17,040 10
Davies-Bertram Co. Cin_ 17,021 00
Field, Longstreth&do.,Cin 17,020 00
Prince Edward County (P. 0. Picton), Ont.-Debentures
Voted-Debenture Offering.-This county on Sept. 29 unanimously voted to issue $35,000 432% 20-year good-road-construction debentures to be dated Sept. 28 1908. Proposals
for these debentures will be received until 10 a. m. Oct. 22.
Equalized assessed valuation, $7,304,469. Present debt
$29,400 17.
Rahway, Union County, N. J.-Bonds Authorized.-On
Sept. 29 an ordinance was passed providing for the issuance
of $65,000 43% 50-year coupon or registered school-building
bonds. Interest payable in Rahway. Bonds are taxexempt.
Ramona School District (P. 0. Ramona), Okla.-Bond
Sale.-This district sold $40,000 6% school-house bonds
On September 1. The securities were bought by R. J.
Edwards of Oklahoma City at par. Denomination $500.
Date Sept. 1 1908. Interest Jan. and July.
Rensselaer, N. 'Y.-Bonds Not Sold.-No bids were received on Oct. 3 for the two issues of 4% registered firedepartment bonds, aggregating $14,500, described in V. 87,
p. 832.
Richardson County Drainage District No. I, Neb.-Bonds
Awarded in Part.-Of an issue of $50,000 5% drainageditch-construction bonds, $35,000 were sold on Sept. 22 to
Dan J. Riley of Dawson at par. Date July 1 1908. Interest
semi-annual. Maturity $10,000 yearly commencing July 1
1913.
p Rocky Mount Road District (P. 0. Rocky Mount), Edgecombe County, N. C.-Bond Sale.-On Aug. 22 the 1510,000
57440-year coupon road bonds offered on Aug. 18 (V. 87,
p. 434) were purchased by the Western-German Bank of
Cincinnati at 100.28. Purchaser to furnish blank bonds.
F. San Bernardino, San Bernardino County, Cal.-Bonds
iVotiSold.-We are advised under date of Sept. 30 that thii
citylhas not yet succeeded in placing the four issues of 43-%
1-40-year (serial) bonds aggregating $110,000 offered on
Sept. 7. See V. 87, p. 634.
St. Bernard (P. 0. Cincinnati), Ohio.-Bond Offering.Proposals will be receivedEuntil 12 m. Oct. 16 for $6,000
VA% Town Hall bonds. Authority Section 2835 Revised
Statutes of Ohio. Denomination $500. Date July 11908.
Interest semi-annually at the Citizens' Bank in St. Bernard.
Maturity July 1 1938.*Purchaseato7payraccrued interest.
GeorgeLSchroeder is„VillagelClerk.
a
965
St. Louis, Mo.-Bonds Not Yet Sold.-The City Comptroller writes us under date of Oct. 3 that no award has yet
been made of the $1,075,000 bonds-the unsold portion of
the issue of $2,000,000 3.65% 20-year gold coupon renewal
bonds mentioned in V. 87, p. 119.
St. Paul, Minn.-Bond Offering.-Proposals will be received until 12 m. Oct. 21 by the Sinking Fund Committee
at the office of Louis Betz, City Comptroller, for $50,000
4% coupon (With privilege of registration) bonds for the
purpose of extending, enlarging and improving the water
works. Authority Section 34, Chapter 9, City Charter.
Denomination $500 or $1,000, to suit purchaser. Date Nov.
2 1908. Interest semi-annually at the financial agency of
St. Paul in New York City. Maturity Nov. 1 1938. Certified check for 2% of bonds bid for, payable to the City
Treasurer, is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
St. Thomas, Ont.-Debenture Sale.-This city has sold
$20,000 water-works-extension and $10,000 bridge 43/2%
20-year debentures to the •Dominion Securities Corporation,
Ltd., of Toronto. Interest annually in St. Thomas.
Sandusky, Erie County, Ohio.-Bond Sale.-A list of the
bids received on Oct. 5 for the $3,000 4% 5-year Warren
Street lateral sewer (city's portion) bonds described in
V. 87, p. 894, follows:
Toledo Fire & Marine Ins.
Co., Sandusky
$3,006 00
Third National Exchange
Bank, Sandusky
3,005 50
W.R.Todd & Co., Cinc--$3,005 00
Citizens' Bkg. Co., San'ky_a3,005 00
Amer. Bkg.Co.,Sandusky- 3,003 00
Fifth-Third Nat. Bk.,Cinc- 3,001 25
a Not accompanied by the required certified check.
All bidders offered accrued interest in addition to their bids.
Saskatchewan (Province of), Oan.-Sales of Municipal
Debentures.-The following debentures of Saskatchewan
municipalities were recently purchased by Nay & James of
Regina:
Aberdeen School District No. 1610 (P. 0. Aberdeen)-$3,000 8%
10-year school-building debentures.
Buffalo Plains School District No. 1639 (P. 0. Buffalo Plains)-$500
8% 5-year school-building debentures.
Carmen Heights School District No. 2092 (P. 0. Stevens)-$1,700 8%
10-year school-b acting debentures.
Dalmeny Town School District No. 2094 (P. 0. Dalmeny)-$2.000
7 % 10-year school-building debentures.
Longford School District No. 1991 (P. 0. Swift Current)-$1,200 7%
10-year school-building debentures.
Macoun-$1,000 8% 10-year permanent improvement debentures.
Maryfleld School District No. 2054 (P. 0. Maryfield)-$1,500 7%
10-year school-building debentures.
Rapid Advance School District No. 2099 (P. 0. Viscount)-$1,500 8%
10-year school-building debentures.
Satulmari School District No. 2135 (P. 0. Sennell)-$1,200 8% 10year school-building debentures.
Valley Centre School District No. 1974 (P. 0. Du Val)-$1,750 73 %
10-year school-building debentures.
Willow Lake School -District No. 2081 (P. 0. Dalmeny)-$1,200 8%
10-year school-building debentures.
Sherbrooke, Que.-Debenture Sale.-Geo. A. Stimson &
Co. of Toronto have bought $500,000 43% debentures,
dated 1908 and due 1933. The securities were sold at par.
London delivery and payment.
Snohomish County (P.0. Everett), Wash.-Bond Election.
-Reports state that a proposition to issue $500,000 goodroads bonds will be submitted to a vote of the people at the
general election next November.
South Vancouver B. 0.-Debenture Sale.-An issue of
bonds maturing in 1958 was recently
$100,000 5% road '
awarded to Wood, Gundy & Co. of Toronto.
Springfield, Ohio.-Bond Sale.-On Sept. 8 the $3,672 40
Dibert Avenue and the $3,602 45 Grand Avenue 5% 1-5year (serial).coupon sanitary-sewer-construction assessment
bonds described in V. 87, p. 636, were awarded to the Citizens' National Bank of Springfield. The former issue was
sold for $3,719 90 (101.293)-a basis of about 4.535%, while
the latter issue brought $3,648 45 (101.276)-a basis of
about 4.541%.
Bonds Withdrawn from the Market.-We are advised that,
owing to the discovery of an error, the two issues of 5%
1-5-year (serial) coupon alley-improvement assessment
bonds, aggregating $2,034 25, which were also to have been
sold on Sept. 8 (V. 87, p. 636), were withdrawn from the
market.
Bond Election.-The question of issuing $225,000 bonds for
the purchase of park lands will be submitted to the electors
on Nov. 3.
Springfield Independent School District No. 64 (P. 0.
Springfield), Brown County, Minn -Bond Sale.-This district on Aug. 28 awarded the $15,000 5% 3-17-year (serial)
bonds described in V. 87, p. 499, to the Union Investment
Co. of Minneapolis at 101.70, plus the cost of blank bonds.
Springwater Township (P. 0. Luverne), Rock County,
Minn.-Bond Offering.-Proposals will be received until
2 p. in. to-day (Oct. 10) by Emil Kohlscheen, Township
Clerk, for $1,500 6% coupon bridge-building bonds. Denomination $300. Interest Jan. 1 at the Township Treasurer's office. Maturity $300 yearly on Jan. 1 from 1910 to
1914 inclusive.
Staples, Minn.-Certificate Sale.-On Oct. 5 the $10,165
6% street-paving certificates described in V. 87, p. 834,
were awarded to the Commercial Investment Co. of ]Duluth•
at par and accrued interest. A bid at par was also received
IVOL. Lxxxvii.
THE CHRONICLE
966
from Kane & Co. of Minneapolis. Maturity $2,541 25
yearly—on Jan. 1 from 1910 to 1913 inclusive.
Starke, Bradford County, Fla.—Bond Offering.—Proposals will be received until 12 m. Nov. 18 by the Board of
Bond Trustees at the office of J. E. Futch, Secretary, for
the "$12,000 or less" 6% water and electric-light-plantimprovement and extension bonds voted on July 14. See
V. 87, p. 307. Denominations $500 and $1,000. Interest
Jan. 1 and July 1 in Starke at the Bradford County Bank
or the Town Treasurer's office. Maturity Jan. 1 1929.
Certified check for 3% is required. Official advertisement
states there has never been any default in the payment of
principal or interest.
Stayner, Ont.—Debenture Sale.—On Sept. 16 $5,000 532%
Municipal-building debentures were awarded to Wm. C.
Brent of Toronto. Maturity part yearly on Sept. 8 from
1909 to 1918 inclusive.
Stephenville, Erath County, Tex.—Bonds Registered and
Sold.—On Oct. 2 the State Comptroller registered $7,500
5% 20-40-year (optional) school-house bonds. These securities, together with an issue of $7,500 5% city-hall bonds,
have been purchased by the State Permanent School Fund
at par and accrued interest.
Steuben County (P. 0. Angola), Ind.—Bond Sale.—We
learn through advices received from J. F. Wild & Co. of
Indianapolis that they were the purchasers of an issue of
$11,500 432% Mill Grove Township school-house bonds
disposed of on Aug. 10. The price paid was $11,535, or
100.304. Date Sept. 1 1908. Maturity part yearly on
Sept. 1 from 1909 to 1913 inclusive.
Steubenville, Jefferson County, Ohio.—Bond Offering.—
Proposals will be received until 12 m. Oct. 14 by Frank S.
King, City Auditor, for $60,000 432% coupon La Belle
View Sewer District No. 2 bonds. Authority Section 95,
Municipal Code. Denomination $1,000. Date Oct. 15 1908.
Interest semi-annually at the office of the Sinking Fund
Trustees. Maturity on Oct. 15 as follows: $12,000 in 1910
and $6,000 yearly from 1911 to 1918 inclusive. Certified
check for 3% of bonds bid for, made payable to the City
Treasurer, is required. Purchaser to pay accrued interest.
NEW LOANS.
$64,000
Delivery within ten days from time of award. Official circular states there is no litigation pending affecting the validity of these bonds; also that there has never been any default
in the payment of any obligation.
Stoughton School District (P. 0. Stoughton), Wis.—Bond
Sale.—Local papers report that the highest bid received on
Oct. 2 for $5,000 east-side-school-house-addition bonds offered on that day was one of 102.04 and accrued interest,
submitted by the Harris Trust & Savings Bank of Chicago.
Date Aug. 1 1908. Denomination $500. Maturity $500
yearly.
Summit Union School District, Siskiyou County, Cal.—
Bond Offering.—According to reports, proposals will be
received until 12 m. Nov. 9 by Abner Weed, Chairman
Board of County Supervisors, for $9,000 6% bonds. Denomination $900. Date Oct. 1 1908. Interest annual.
Maturity $900 yearly on Oct. 1 from 1909 to 1918 inclusive.
Sunn.yside School District, Siskiyou County, Cal.—Bond
Offering.—Proposals will be received , according to reports,
until 12 m. Nov. 9 by Abner Weed, Chairman Board of
County Supervisors, for $5,000 6% bonds. Denomination
$500. Date Oct. 1 1908. Interest annual. Maturity
$500 yearly on Oct. 1 from 1909 to 1918 inclusive.
Superior, Douglas County, Wis.—Bond Sale.—This city
has sold $7,800 5% bonds to purchase voting machines.
Date Sept. 1 1908. Maturity $1,300 yearly on Jan. 1 from
1909 to 1914 inclusive.
Tempe Union High School District, Maricopa County,
Ariz.—Bond Sale.—The $50,000 5% 20-year gold coupon
Union High School building bonds described in V. 87, p.
894, were purchased on Oct. 5 by MacDonald, McCoy & Co.
of Chicago.
Tipton County (P. 0. Tipton), Ind.—Bond Sale.—J. F.
Wild & Co. of Indianapolis inform us that they recently
bought the following 4M% gravel-road bonds at par: $23,100 from Liberty Township, $4,560 from Madison Township
and $6,260 from Wildcat Township. Date Aug. 5 1908.
Maturity part yearly from one to ten years inclusive.
Valley City, N. D.—Bond Sale.—The Minnesota Loan &
Trust Co. of Minneapolis, offering 103.583 and accrued in-
NEW LOANS.
MISCELLANEOUS.
$28,000
$50,000
City of Brunswick, Ga., CITY OF SHERMAN,TEX City of St. Paul, Minn.
5% BONDS.
Sealed bids will be received by the undersigned,
in the City of Brunswick, Ga., until December 1st,
1908, at 12 o'clock noon, for all or any part of
64 one thousand dollars ($64,000.00) 5 per cent
coupon (J and J) bonds of the City of Brunswick,
Ga., due J . 1st, 1921, with January 1st, 1909,
coupon
ese bondsatached
are the remainder of an issue of
$300,000.00 30-year 5 per cent bonds authorized
1891 for sewerage and surface drainage ($236,000.00 having been used for that purpose), and
retirement of outstanding indebtedness of the
city.
This remainder has been reserved to retire the
remaining 30-year 7 per cent bonds of the city
maturing January 1st, 1909, and are being marketed for that purpose. After that date these
$300,000.00 5 per cent bonds, principal and interest being payable in New York or Brunswick,
at the option of the holder, will be total bonded
Indebtedness of the city, the taxable property of
which exceeds $7,600,000.00.
Holders of City of Brunswick, Ga., 7s maturing
January 1st, 1909, may make advantageous trade
by communicating with the undersigned.
All bids must be marked "Bids for Bonds," and
accompanied by cashier's or certified check for
2 per cent of the face value of the bonds bid for,
which will be applied on the purchase price if
accepted, or returned if rejected.
Bidders must be prepared to accept bonds attached to draft for balance of purchase price
not later than December 10th, 1908.
The right is reserved to reject any and all bids.
R. R. HOPKINS, Mayor.
City of Brunswick, Ga,
September 29th, 1908.
e 5,000
City of Wilmington, Del,,
WATER LOAN BONDS.
Sealed bids will be received for $25,000 Water
Loan Bonds of Wilmington, Del., until 12 M.
Monday, October 12th, 1908. Bonds will date
from October 12th, 1908, in denomination of
$1,000, and bear interest at the rate of four per
cent, payable semi-annually on April 1st and
October 1st, and will mature In 1921; the said
issue being for the completion and operation of
the Water Supply System of the City of Wilmington.
• All proposals must be accompanied by certified check, payable to the order of "the Mayor
and Council of Wilmington," for two per cent
of the amount of bonds bid for, and the same
to be forfeited it the bidder fails to accept and
pay for bonds awarded. The successful bidder or
bidders will be required to settle for the bonds,
with accrued Interest from October 12th, 1908,
at or before 12 M., October 20th, 1908.
The right to reject any or all bids is reserved.
Address all bids in sealed envelopes to Howard
D. Ross, City Treasurer, marked "Proposals for
Water Loan Bonds."
Attest:
HOWARD D. ROSS,
CItyaTreasurerAWilmington,'Del.
43 PER CENT BONDS.
Four Per Cent 30-Years Water Bonds
Sealed bids will be received by the City of
Sherman, Texas, at the office of Henry Zimmerman, City Secretary, until OCTOBER 19, 1908,
7:30 p. m., for the purchase of $14,000 00 4%%
1-28-year (serial) Water-Works Bonds and
$14,000 00 4;
,6% 1-32-year (serial) Electric
Light Bonds (original issue of Electric Light
Bonds $16,000 00, first four bonds of this issue
retained for city funds). Date of bonds of this
Issue October 1, 1908. Principal and interest
payable at National Park Bank, New York. All
bids must be accompanied by a certified check
for $1,000, payable to C. E. Craycroft, Mayor.
The right is reserved to reject any and all bids.
C. E. CRAYCROFT,
Attest:
Mayor.
HENRY ZIMMERMAN,
City Secretary.
SEALED PROPOSALS
Will be received at the °flee of the City Comptroller by the Sinking Fund Committee until 12
o'clock, noon, on October 21, 1908, and opened
at that time, for the whole or any part of $50,000 00 of Bonds of the City of St. Paul. These
bonds are issued for extending, enlarging and improving the St. Paul Water Works, and will be
In coupon form. They will be issued in denomlnatio s f :500 ur $1,000 a h, a; th purchaser may desire, and shall bear interest at the
rate of four per cent (4%) per annum, payable
semi-annually, principal and interest payable at
the Financial Agency of the City of St. Paul In
the City and State of New York. These bonds
are authorized by Ordinance No. 2776, passed by
the Common Council and approved September
19, 1908, and by Section 34, Chapter 9, of the
Charter of- said City. Bonds will be dated November 2nd, 1908, and mature November 1st,
1938.
A certified check payable to the City Treasurer
of the City of St. Paul for two per cent (2 %) of
the par value of the bonds bid for must accompany each bid that will be ocnsidered. Bonds
to be delivered at the Comptroller's office, where
payment must be made.
The Committee reserves the right to reject any
and all bids. All coupon bonds of the City of
St. Paul can be exchanged for Registered bonds.
1
Proposals to be addressed to
LOUIS BETZ,
City Comptroller.
Cuban Securities
SPIECIA.LTY
FRANCKE, THOMPSON & ROBB
Members N. Y. Stook Exchange
43 Exchange Place
Telephone 6444 Hanover
BRANCH OFFICE
Bristol Building, 5th Ave. and 43d as
Telephone 1558 Bryant
HUNT, SALTONSTALL & CO.,
Members of New York Stock Exchange
Perry, Coffin 8G Burr,
Investment Securities
60 STATE STREET
BOSTON
INVESTMENT BONDS
60 State Street,
BOSTON.
Albert Kleybolte & Co.,
409 Walnut Street,
CINCINNATI, 0.
Blodget, Merritt & Co.
Municipal,
County, State,
BANKERS,
60 State Street, Boston
36 NASSAU STREET, NEW YORK
STATE, CITY 1e RAILROAD BONDS
and
IlIgh.Grade Public Service
Securities
Correspondence Solicited.
967
THE CHRONICLE
OCT. 10 1908.i
terest for 5s, was the successful bidder on Oct. 5 for the $18,- and August 1 at the German-American Bank in Milwaukee.
000 coupon refunding electric-light bonds described in V. 87, Maturity $1,000 yearly on Feb. 1 from 1910 to 1913 inclusive. L. F. Fish is City Clerk.
p. 835. A list of the proposals received follows:
a$18,645 00
Minnesota Loan & Trust Co., Minneapolis (for 58)
Weston, Ont.-Debenture Sale.-This town sold.$14,000
al8,642
60
Chicago
(for
Bank,
Savings
5s)
Trust
&
Harris
18,200 00 debentures on Oct. 1.
Kane & Co., Minneapolis (for 5s)
18,198 00
Otis & Hough, Cleveland (for 5 As)
18,125 00
West Orange School District (P. 0. Orange), N. .T.-No.
Wells & Dickey Co., Minneapolis (for 53s)
18,091 00 Action Yet
C. H. Coffin, Chicago (for 530
Taken.-No steps have yet been taken in regard
18,721 00
(for Os
18,000 00 to issuing the $30,000 Washington Street school-addition
Thos. J. Bolger & Co., Chicago (for 53.4s)
18,730 00 bonds voted (V. 87, p.
John Nuveen & Co., Chicago (for 8s)
565) on Aug. 25.
18,19800
S. A. Kean, Chicago (for 6s)
18,100 00
White Plains, N. Y.-Bond Offering.-Proposals will be
Union Investment Co., Minneapolis (for 6s)
a And accrued Interest.
received until 8 p. m. Oct. 12 by the Voard of Village
Date Sept. 1 1908. Interest semi-annual. Maturity Trustees, John J. Brown, President, for the following bonds:
year
1918,
1923
and 1928.
$6,000 on Sept. 1 in each of the
$139,000 4% water bonds dated Aug. 1 1908. Maturity Aug. 1 1938.
16,000 43% water bonds dated Aug. 1 1908. Maturity Aug. 1 1938.
Vegreville, Ont.-Debenture Sale.-The following deben28,000 43 % tax-deficiency bonds dated Oct. 1 1908.A„Maturity Oct. 1
1913.
tures have been purchased by Wm.C. Brent of Toronto:
$7,000 6% 20-year fire-hall debentures.
The above bonds are in denomination of $1,000. Interest
2,200 6% 20-year market debentures.
semi-annually at the Village Treasurer's office. Certified
1,600 6M % 10-year debentures to purchase a cemetery.
Vigo County (P.0.Terre Haute), Ind.-Bond Sale.-This check upon a State or national bank or trust corn pany.for
county recently accepted a bid of par submitted by J. F. 5% of bid is required.
Wilkinsburg School District (P. 0. Wilkinsburg), Pa.Wild & Co. of Indianapolis for $3,400 4314% Prairieton
Township gravel-road bonds dated Aug. 15 1908. Maturity Bond Offering.-Proposals will be received until Nov. 2
by J. M. Lindsay, Secretary, for $50,000 4% high-schoolpart yearly on Aug. 15 from 1909 to 1928 inclusive.
Washington County (P. 0. Salem), Ind.-Bond Sale.- building and site-purchase bonds.- Denomination $1,000.
Nov.16 1908. Maturity $2,000
J. F. Wild & Co. of Indianapolis were the successful bidders Interest semi-annual. Date
for $6,750 432% Monroe Township gravel-road bonds dis- yearly on Nov. 16 from 1914 to 1938 inclusive.
Willoughby, Lake County, Ohio.-Bond Offering.-Proposed of on Aug. 20. The securities are dated Feb. 3 1908,
mature part yearly from one to ten years inclusive and were posals will be received until 12 m. Oct. 19 by C;C. Jenkins,
Village Clerk, for $2,000 43% water-works-repair bonds,
sold at par.
Waverly, Bremer County,Iowa.-Bond Election Proposed. Series "F". Denomination $500. Date Sept. 1 1908.
Interest
-Reports state that there is talk of holding an election for March 1semi-annual. Maturity $500 each six months from
1914 to Sept. 1 1915 inclusive. Certified check
the purpose of allowing the voters to decide whether or not
draft for $100, payable to the Village Treasurer, is rethis city shall issue $30,000 electric-light and water-plant or
quired.
re-construction bonds.
Wolseley, Sask.-Debenture Sale.---.The $13,000 5%
Wis.-Bond
Milwaukee),
Sta.
Ind.
West Allis (P. 0.
described in V. 87, p. 501, were sold on Sept. 3
Offering.-Proposals will be received until 8 p. m. Oct. 13 debentures
the Confederation Life Associationlati93. Maturity
by the Mayor and Finance Committee for the $4,000 5% to
part yearly for twenty years.
coupon school-building bonds described in V. 87, p. 771
Wood County (P.O. Bowling Green), Ohio.-Bond Sale.Authority Chapters 40a and 41, Statutes of 1898. Denomination $1,000. Date Sept. 15 1908. Interest Feb. 1 On Oct. 5 an issue of $50,000 5% coupon public-highway-
MISCELLANEOUS.
MISCELLANEOUS.
BLACKSTAFF & CO
INVESTMENTS
1332 Walnut Street
PHILADELPHIA
LIST OF SPECIALTIES ON REQUES1
ATLANTIC MUTUAL INSURANCECOMPANY.
New York, January 21st, 1908.
The Trustees, in conformity With the Charter of the Company, submit the following statement of its affairs
on the 31st of December, 1907.
$3,440,427 06
Premiums on Marine Risks from 1st January, 1907, to 31st December, 1907
690,719 33
Premiums on Policies not marked off 1st January, 1907
$4,131,146 39
Total Marine Premiums
MUNICIPAL AND RAILROAt
$348,234 37
124,93570
Interest received during the year
Rent less Taxes and Expenses
- BONDS.
LIST ON APPLICATION.
SEASON GOOD & MAYER
$3,387,757 38
Premiums marked off from 1st January. 1907. to 31st December, 1907
$473,170 16
Losses paid during the year which were estimated in 1906
$607,375 70
and previous years
1,400,691 49 $2,008,067 19
Losses occurred, estimated and paid In 1907
Less Salvages
Re-insurances
Mercantile Library Building,
CINCINNATI.
$126,595 24
302,387 66
428,982 90
$1,579,084 29
MacDonald, McCoy & Cosi
MUNICIPAL AND CORPORATIOA
BONDS.
18x La Salle Street, Chicagt
Established I.NSIS.
H. C. Speer & Sons Co
First Nat. Bank Building, Chicago
CITY COUNTY
AND TO ti I
BONDS.
1850
1908
The United States Lift
Insurance Co.
IN THE CITY OF NEW YORK
Issues Guaranteed Contracts
JOHN P. MUNN, M.D., President
Finance Committee
IAMES R. PLUM
Leather
CLARENCE H. KELSEY, Pres, Title Guar.& Tr. Co.
WM. H. PORTER. Pres. Chemical National Bani
Good men, whether experienced in life insurance
or not, may make direct contracts with this Company for a limited territory If desired, and secure
for themselves, in addition to first year's commission, arenewal interest Insuring an Income for the
future. Address the Company at its Homo Offloe
No. 277 Broadway. New York Olty,
Returns of Premiums
Expenses, including office-:s' salaries and clerks' compensation,stationery,
newspapers, advertisements, etc
$42,971 10
$348,854 83
LIABILITIES.
Estimated Losses and Losses Un$2,058,165 00
settled
743,389 01
Premiums on Unterminated Risks_
Certificates of Profits and Interest
268,528 75
Unpaid
122,696 16
Return Premiums Unpaid
Certificates of Profits Ordered Redeemed, Withheld for Unpaid
22,334 55
Premiums
Certificates of Profits Outstanding
7,412,630 00
Premium notes and Bills Receivable 1,376,916 51
Real Estate Reserve Fund
270,000 00
Cash in the hands of European
Bankers to pay losses under poli185,005 17
cies payable in foreign countries_
595,353 43
Cash in Bank
ASSETS.
United States & State of New York
Stock, City, Bank and other Se$5,483,622 00
curities
Special deposits in Banks &TrustCos. 650,000 00
Real Estate cor. Wall & WilliamSts.,
& Exchange Place.$4,299,000 00
Other Real Estate &
claims due the com75,000 00 4,374,000 00
pany
Aggregating
$12,664,897 11
Aggregating
$10,897,743 47
A dividend of Six per cent Interest on the outstanding certificates of profits will be paid to the holders thereof, or their legal representatives, on and after Tuesday the fourth of February next.
The outstanding certificates of the issue of 1902 will be redeemed and paid to the holders thereof,
or their legal representatives, on and after Tuesday the fourth of February next, from which date all
Interest thereon will cease. The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the net earned premiums of the Company for the year
ending 31st December, 1907, for which, upon application, certificates will be Issued on and after
Tuesday the fifth of May next.
By order of the Board.
O. STANTON FLOYD-JONES, Secretary.
TRUSTEES.
GUSTAV AMSINOIK,
HERBERT L. GRIGGS,
NICHOLAS F. PALMER,
FRANCIS M. BACON,
CLEMENT A. GRISCOM,
HENRY PARISH,
DALLAS B. PRATT,
ANSON W. HARD,
JOHN N. BEACH,
WILLIAM B. BOULTON,
MORRIS K. JESUP,
GEORGE W. QUINTARD,
VERNON H. BROWN,
A. A. RAVEN,
LEWIS CASS LEDYARD,
WALDRON P. BROWN,
FRANCIS H. LEGGETT,
JOHN L HIKER,
JOSEPH H. CHAPMAN,
CHARLES D. LEVY:RICH,
DOUGLAS ROBINSON.
JOHN CLAFLIN,
LEANDER N. LOVELL.
GUSTAV H. SCHWAB.
GEORGE 0. CLARK,
GEORGE H. MACY,
WILLIAM SLOANE,
CLEVELAND H. DODGE,
CHARLES H. MARSHALL, ISAAC STERN,
CORNELIUS ELDERT.
W. H. H. MOORE,
WILLIAM A. STREET,
RICHARD H. EWART.
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
SANFORD E. COBB, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
THE CHRONICLE
L9681
[VoL. Lxxxviz.
improvement bonds was awarded to the Cleveland Trust
Yakima County School District No. 14, Wash.-Bond
Co. of Cleveland at 102.131. Following are the bids:
Offering.-Proposals will be received until 10-a. m. Oct. 17
Clay. Trust Co., Clev_ _ _ _ $51,005 50 Well, Roth & Co., Cincin $50,890 00 by Lee Tittle, County Treasurer (P10. North Yakima), for
Hochler & Cummings,Tol. 51,062 50 Prov. Say. Bk. & Tr. Co.,
$1,500 coupon school-buildinglbonds at not exceeding 6%
Hayden, Miller & Co.,Clev.51,061 00
Cincinnati
50,880 00
Seasongood & Mayer,Cin_ 51,044 00 Fifth-Third Nat. Bank,Cin.50,876 00 interest. Authority page 357,tLaws of 1897. Date day of
First Nat. Bank,Cleveland 51,037 50 Otis & Hough,Cleveland__ 50,755 00
issue or "the first of some month" at option of purchaser.
C. E. Denison & Co.,Clev- 51,017 75 Field, Longstreth & Co.,
Security Savings Bank &
Cincinnati
50,755 00 Interest annually at the County Treasurer's office. Maturity
Trust Co.,Toledo
50,903 50 Barto Scott & Co., Col
50,753 00 ten years, subject to call after five years. Assessed and
Central Trust & Safe Dep.
Co., Cincinnati
50,500 00 equalized valuation 1908, $146,185.
Denomination $1,000. Date Oct. 10 1908. Interest
York Township, Ont.-Debenture Sale.-The Ontario SeMarch 1 and Sept. 1 at the County Treasurer's office. Ma- curities Co. of Toronto has purchased $6,000 5% 20-year
turity $5,000 each six months from March 1 1909 to Sept. 1 school-debentures.
1913 inclusive. A like amount of bonds was disposed of on
Youngstown, Ohio.-Bond Offering.-Proposals will be
Aug. 3. See V. 87, p. 372. If these are the same securities, received until 2 p.m. Oct. 12 by Wm.I. Davies,City Auditor,
we have not yet been advised as to why the original sale for $14,800 5% W. Woodland Avenue paving bonds. Mafailed of consummation.
turity $2,960 yearly on Oct. 1 from 1910 to 1914 inclusive.
Wooster, Ohio.-Bond Sale.-We are advised that the
The bonds are dated Oct. 19 1908. Interest semi-annually
reports that $12,000 4% 20-year refunding bonds were awar- at the City Treasurer's office. Bid must be accompanied by
ded on Oct. 1 to the Rudolph Kleybolte Co. of Cincinnati a certified check for 2% of issue, drawn on a national bank
(V. 87,p. 896) are erroneous. According to the City Auditor, and made payable to the City Auditor. Purchaser must be
the issue was reduced to $8,000 and awarded to Seasongood prepared to take the bonds not later than Oct. 19 1908, the
& Mayer of Cincinnati. The $6,400 Spink Street and the money to be delivered at one of the banks in Youngstown or
$7,000 Beall Avenue 43'% 1-10-year (serial) paving assess- at the City Treasurer's offide.
Bond Sale.-The following/bids were received on Oct. 5
ment bonds were awarded,as stated last week,to Barto,Scott &
Co. of Columbus at 101.578 and 101.585 respectively. for the five issues of 5% bonds described in V. 87, p. 772:
$1,600
$1,000
$8,730
$10,555
$5,8351C
Purchasers to pay accrued interest. The following bids
Pyatt St. DarrowSt. Marton Av. Silver St. Sidewalk]
were received:
Bonds.
Bonds.
Bonds.
Bonds.
Bonds.
$12,000
$6,400
87,000
Bonds.
Bonds.
Bonds.1
Seasongood & Mayer, Cincinnati
$12,037 20 $6,472 00 $7,078 75
Barto, Scott dc Co., Columbus
12,017 50
6,501 00
7,111 00
Rudolph Kleybolte Co., Inc., Cincinnati.. 12,032 40
Well, Roth & Co., Cincinnati
12,030 00
6,432 00
7,035 00
Otis & Hough, Cleveland
12,007 50
6,471 50
7,080 00
Wayne County National Bank, Wooster (for three issues)
_ $25,618 00
Citizens' National Bank, Wooster (for three Issues)
25,567 50
C. E. Denison &-Co., Cleve_
Firemen's Pension Fund,
*$9,001 60410,883 50*$6,011 25
*81,009 00*$1,616 00
r & Co., Cleve__ 1,000 00 1,600,00
Hayden, Miller
Mahoning Nat. Bk., Youngst'n
Seasongood & Mayer, CM__ 1,000 00 1,600 00
Otis & Hough, Cleveland
Hoehier & Cummings, Toledo_
First National Bank, Cleve.__ 1,004 50 1,604 80
Well, Roth & Co., Cincinnati_
Field, Longstreth & Co., CM_
Barto, Scott & Co., Columbus_
1,005 00 1,608 00
C. S. Butler, Boston
* Successful bidders.
8,885,00
5,939 00
8
9:9
09
00
10
00
0 10:887
80
3 00 6,001 00
8,
80
97
70
20
70
1 110
0:8845
80
40
3 5:9
8985
40
70
6
8,967 50
8,967 00
8,957 00
8,955 00
8,939 50
10,843 50
10,845 00
10,830 00
10,855 00
10,788 20
5,976 50
5,982 00
All bidders offered accrued interest in addition to their bids.
5,995 00
5,964 24
Worth County Drainage District No, 6, Iowa.-Bond
Offering.-Proposals will be received until 12 m. Oct. 12 by
Iver Iverson Jr., County Auditor (P. 0. Northwood), for
The Security Savings Bank & Trust Co. of Toledo bid
$9,000 53
4% drainage bonds. Denomination $1,000. Date $25,805 50 for the $8,730 Marion Street paving, $10,555
Sept. 1 1908. Maturity5,$1,000 yearly on May 1 from 1909 Silver Street paving and $5,835 sidewalk bonds. All bids
to:A-1917 inclusive.
include accrued interest.
TRUST COMPANIES.
TRUST COMPANIES.
llniteg States TrustpGomang of IOW York,
Chartered
45 and 47 Wall St
. .
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS,
-
.
.
$2,000,000.00
$13,243, 128.35
Manhattan
Trust
This Company acts as Executor, Administrator. Guardian.
Trustee, Court Depositary and it
other recognized trust capacities.
It allows interest at current rates on deposits.
It holds, manages and invests money, securities and other property,
real or personal, for estates
corporations and individuals.
EDWARD W SHELDON. President,
JOHN CR_OSBY BROWN, Vico-President.
WILLIAM M KINUSLEY, Second Vice-Pres
HENRY E. AHERN, Secretary.
WILFRED J WORCESTER, Asst, Secretary
CHARLES A. EDWARDS. 2d Asst. Secretary
TRUSTEES.
JOHN A. STEWART, Chairman of the
Board.
John Crosby Brown.
William H. Macy Jr..
John Clank:.
Payne Whither.
W. Bayard Cutting.
a D. Sloane.
John J. Phelps,
Edward W Sheldon
Charles S. Smith,
Gustav H. Schwab.
John S. Kennedy.
Chauncey Keep.
William Rockefeller,
Frank Lyman,
D. 0. Mills,
George L. Rives,
Alexander E. Orr,
George F. Vletor.
Lewis Cass Ledyard.
Arthur 0.11 &me..
James Stillman.
Lyman J. Gage.
We refer you to
Company
20
Wall Street
Corner Nassau
NEW YORK
The Torporation Trust co.
37 Wall Street, New
York, for information
regarding any point involved in the organization
and taxation of business corporations under the
laws of any of the States or Territories.
UNITED STATES
MORTGAGE &TRUST
COMPANY
NEW YORK
111111.0iSMISt&SairingSBanit
CHICAGO
Capital & Surplus, $6,000,000
Capital and Surplus
013,200,000
Acts in all Fiduciary Capacities
Pays Interest on Time Deposits, Current and Reserve Accountt
Deals in Investment Securities and Foreign Exchange.
Transacts a General Trust Business.
Main Office
55 Cedar Street
INVITES ACCOUNTS
BRANCH
73rd St. & B'way
CORRESPONDENCE INVITED
BRANCH
:25th St. & 8th Ave.
@FedFRASER