The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
INCLUDING
Bank &
m
I
Electric
Railway & Industrial Section
Quotation Section
Bankers' Convention Section
Railway Earnings Section
Railway Section
State and
NO. 2520
SATURDAY, OCTOBER 11 1913
VOL. 97
City Section
Week ending October 4.
Clearings at—
2£Ixje (foUxomtlt.
Inc. or
;
1912.
1913.
1910.
1911.
Dec.
PUBLISHED WEEKLY.
Terms of
For Six
$10 00
....
600
Months
958.
Statement of the
•
Ownership, Management Ac., of Commercial A
Financial Chronicle,
published weekly at 138 FrontSt., New York, as required by Act of Aug. 241912.
Editor, Jacob Selbert Jr., 138 Front St., New York.
Managing Editor, Jacob Seibert Jr., 138 Front St., New York
Business Manager, George B. Shepherd, 138 Front St., N. Y.
Publisher, William B. Dana Company, 138 Front St., New York.
Stockholders, Estate of William B Dana, Jacob Seibert Jr., Arnold G. Dana, Grace
N. Dana and Albro J. Newton; address of all, 138 Fr«nt St., New York.
Bondholders, Mortgagees^ Ac.
No bonds or mortgages.
ptfl
(Signed) Jacob Seibert Jr , Editor,
subscribed before me this 3d day of October,
Sworn to and
A.
Thomas
1913.
Milwaukee
„—
Indianapolis
'
Columbus
Toledo
*—
Dayton
Evansville
—
25,298,600
29,757,958
26,138,422
15,654,793
8,899,112
6,808,200
5,320,682
3,778,772
3,600,000
2,741,961
2,595,690
694,840
Kalamazoo
1,047,378
1,377,314
1,875,334
Springfield, Hl__
Fort Wayne
Youngs town
729,577
Lexington
Rockford
874,007
2,000,000
Akron
628,336
South Bend
Canton
1,525,000
Quincy
861,218
673,628
540,539
Bloomlngton
Notary Public.
Creegan,
(My commission expires March
Detroit
Grand Rapids—
New York.
Front, Pine and Depeyster Sts.,
Cleveland
Peoria
COMPANY, Publishers,
B. DANA
WILLIAM
£2 14s.
£1 11 s^
$11 50
^
34$,814,508
Chicago
Cincinnati
13 00
7 50
European Subscription (including postage)
European Subscription six months (including postage)
Annual Subscription in London (including postage)
Six Months Subscription in London (including postage)
Canadian Subscription (including postage)
P. O. box
%
Subscription—Payable in Advance
For One Year.....
Mansfield
30 1915.)
803,618
483,356
449,964
Springfield, O--Decatur
Published
Saturday morning by WILLIAM B. DANA COMPANY,
President and Treas.; George S. Dana and Arnold G. Dana,
Arnold G. Dana, Sec.
Addresses of all, Office of the Company.
every
Jackson
....
+ 2.3
341,831,665
—5.5
26,767,350
+ 7.2
27,769,119
+ 18.0
22,155,724
+4.9
14,919,600
+9.3
8,143,375
+ 6.3
6,403,700
+5.9
5,024,397
—7.4
4,081,822
—7.9
3.910.614
+ 10.5
2.481.615
+ 12.9
2,318,949
—2.5
712,276
1,237,413 —15.4
+ 3.6
1,329,597
+8.8
1,724,705
853,786 —14.5
+8.0
809,017
2,065,000 V—3.1
744,936 —15.6
+ 0.7
1,515,117
+ 13.6
758,753
850,874 —20.8
+20.0
450,367
+ 16.3
690,943
—7.5
522,911
591,456 —24.0
289,239,694
26,041,600
24,922,536
19,356,254
19,936,382
8,598,729
5.435.100
4,221,322
2,759,081
2.956.101
278,033,390
24,963,250
22.053,911
18,258,624
14,300,584
8,658,366
5,463,600
4,219,767
3,205,664
.
2,994,194
2,450,228
2,337,513
2,260,059
2,728,943
983,368
961,177
1,065,224
1,203,602
874,537
710,361
V
808,050
798,374
991,239
1,050,605
1,723,715
850,900
695,923
•
1,255,000
625,221
685,198
1,157,239
1,052,723
664,718
\ 682,310
451,925
701,900
648,603
443,824
586,488
445,948
407,000
315,760
268,389
-607,577
419,067
465,772
301,136
320,620
469,937
397,683
447,192
Vice-Presidents;
CLEARING-HOUSE RETURNS.
indicates that the
States for the week
following table, made up by telegraph, &c.,
total bank clearings of all clearing houses of the United
ending Oct. 11 have been $3,309,451,048, against
The
$3,780,233,014 last
Columbus
$3,067,335,724 the corresponding week last year.
Day holiday in the week last year.
.
week and
-
Louis
1
Other cities, 5 days
431,595
+49.4
62,545
369,521
—35.8
35,000
40,587
+ 1.2
371,078
325,770
Tot. Mid .West
497.707,222
483,108,349
+ 3.0
420,243,406
401,295,929
San Francisco.-.
56,169,592
21,142,164
13,564,784
13,163,117
4,664,186
2,532,190
6,926,967
4,212,009
2,435,100
2,500,781
—4.4
■"
Adrian
...
Owensboro
555,416,213
All cities, 1 day
Columbus Day holiday In most
The full details for
...r
Oakland
Sacramento
San
Diego
+ 2.4
Fresno
—8.3
1,159,259
Stockton
—8.7
„
873,719
1,015,876
—
Total Pacific._
+ 7.9
60,457,331
32,082,172
19,873,323
11,052,646
10,314,741
7,249,610
7,860,061
5,88l2,796
4,000,000
3,470,517
2,220,831
2,058,425
1,517,105
526,9^9
2,087,805
City
Minneapolis
Omaha
..I.¬
St. Paul
above will be given next
week ending with Saturday
Denver
St. Joseph..
Duluth
Des Moines
Sioux City.
Wichita
Week ending October
...
Davenport
Lincoln
4.
....
Topeka
Clearings at—
Inc
.
or
Fargo
1911.
Dec.
1912.
1910.
Cedar
Rapids..:
Colorado Springs
$
%
2, 180,822,633 2,662,697,486
New York
198,727,714
Philadelphia
Pittsburgh
61,886,458
Baltimore
Buffalo
Albany
Washington
Rochester
L
Scran ton
Syracuse
Reading.--
,
Wilmington
Wilkes-Barre
Wheeling
York
Trenton..
Altoona
42,277,191
14,960,168
7,996,464
8,353,467
6,646,535
3,450,000
3,739,801
2,165,993
2,466,843
1,830,015
2,391,250
1,040,683
1,867,565
622,289
1,259,422
675,000
Erie
Greensburg
Bingliamton
660,000
706,300
687,091
735,918
Lancaster
2,175,919
Montclair
387,782
51,867,119
38,695,046
+ 1.3
—4.6
12,648,388
7,382,540
8,177,714
5,433,671
+4.7
+ 31.5
+ 2.3
+ 5.2
+2.2
+ 8.2
3,111,412
3,205,675
2,092,216
1,718,013
1,664,530
2,128,825
1,110,373
1,997,345
417,144
988,595
—2.7
,
+ 15.2
+ 2.2
1,835,392
346,049
—1.6
—7.5
+ 6.8
+ 5.8
+ 4.8
+ 13.1
1,383,871
1,252,847
+ 12.1
580,786
962,080
663,243
2,249,479,375 2,164,249,009
—15.8
Hartford
New Haven
Springfield
Portland
Worcester
Fall River
New Bedford
-
3,478,255
3,259,336
1,150,000
1,167,884
488,352
Holyoke
889,284
Bangor
626,426
•
676,653
729,200
622,757
—13.6
Providence
1,422,290
1,707,728
1,033,519
1,793,561
411,566
893,421
602,875
—15.5
173,585,913
9,395,200
6,671,251
3,669,310
3,051,023
160,501,849
53,075,577
35,376,204
11,867,669
6,474,260
7,342,720
4,620,497
3,075,443
2,190,917
1,674,575
1,624,526
650,000
624,200
200,853,697
9,221,200
5,399,352
3,624,700
3,224,181
3,687,664
3,008,400
1,069,367
891,851
_
+ 1.9
+23.6
+ 1.2
—5.4
—5.4
+ 8.3
+7.6
+ 31.2
—7.6
—20.7
164,897,465
8,544,200
5,393,800
3,191,097
2,537,315
2,805,667
2,802,614
1,271,543
997,708
587,645
,
759,317
169,377,511
8,142,000
4,674,488
3,297,539
2,268,998
2,637,297
2,477,430
1,241,771
954,611
524,793
,
636,521
Fremont
.......
Helena
Aberdeen
Hastings
Billings
Tot. oth. West
207,332,234
233,186,521
—11.1
Note.—For Canadian clearings see "Commercial and
New Orleans....
Louisville
Houston
Galveston
Savannah
Richmond
Memphis
Fort Worth
Atlanta
Nashville
....
Birmingham
Little Rock
Chattanooga
Charleston
Knoxville
Jacksonville
Mobile
Oklahoma
Macon
972,598
+ 5.8
935,601
—5.5
694,884
+<7.6
+4.1
—8.9
—23.1
+ 11.9
—1.4
+24.0
—14.9
„
506,320
—11.5
—22.3
638,800
—2.0
—1.1
+ 7.8
+ 17.6
+ 0.5
+ 7.4
+ 0.6
—0.8
+ 10.4
+ 12.5
+ 10.5
—16.8
409,737
+ 3.3
+ 26.3
242,084
348,266
220,000
200,000
164,626,739
+6.9
157,543,769
156,210,918
93,131,402
18,182,278
12,224,194
77,950,725
18,194,564
12,588,879
220,149,367
218,292,968
1
Muskogee
918,597
612,715
224,074
403,425
1,227,993
1,271,524
Tulsa
54,672,593
26,552,863
17,066,072
11,876,091
10,456,004
5,880,379
5,600,394
4,814,710
3,465,312
3,575,509
2,084,582
1,723,193
1,282,152
1,371,884
1,139,687
300,576
426,449
350,995
729,939
858,496
389,631
•
1,405,000
680,844
675,635
366,326
1,110,500
1,004,892
579,285
,
1,881,392
347,833
:
Jackson
Outside N.
400,932
1,675,954
628,565
631,921
304,112
1,624,308
1,093,093
247,018
Meridian
+31.5
+24.6
53,386,394
29,328,899
15,928,614
10,946,371
10,686,343
6,389,616
6,012,078
5,142,703
2,808,608
3,718,193
2,192,822
1,751,500
1,545,158
1,086,808
1,469,292
•
1,615,327
Vicksburg
196,232,959
Miscellaneous News.'
175,989,777
Austin
Total Southern
655,905
194,444,276
—7.1
—8.0
—4.2
—6.9
—5.3
+ 3.1
79,929,890
82,423,453
-12.4
20,928,205
18,338,945
-11.4
14,255,298
12,636,558
11,500,000 Not included in total
10,202,500 —27.9
11,676,500
+ 29.3
7,520,219
9,726,703
—0.3
8,003,694
7,982,265
+ 21.1
6,778,818
8,206,918
—8.7
10,536,192
9,622,837
+ 20.1
14,187,555
17,041,419
+ 14.2
6,657,274
7,604,827
+ 8.9
2,440,405
2,656,252
3,916,305 —0.05
3,914,443
+ 13.5
2,848,198
3,232,418
+ 12.3
2,336,838
2.623.701
+ 5.8
2,267,681
2.398.702
+ 12.9
2,381,484
2,688,473
+ 0.9
1,921,069
1,939,232
3,000,000 —11.7
2,650,000
1,570,000 —10.8
1,400,000
1,933,273 —12.8
1,686,692
+ 11.4
4.599.703
4,130,223
St. Louis
Augusta
Norfolk
448,690
605,324
283,068
1,538,202
1,208,824
510,000
231,565
509,762
"Waterloo...
Total all—.Tot. New Eng.
°
Pueblo
,855,161,230
+ 2.3
+ 10.8
+7.0
Middle. 2,547,261,810 3,013,430,997
Total
Boston
Lowell
1,941,065,541
162,514,282
+ 6.8
—18.1
'
782,700
Chester
186,156,556
61,093,871
44,306,371
14,290,930
6,082,548
8,168,383
6,316,854
3,375,000
3,456,705
2,226,114
2,140,567
1,790,389
2,430,034
1,125,347
1,748,758
588,331
1,201,921
+4.9
+ 13.0
+ 14.2
+6.0
53,249,350
19,098,506
11,508,772
13,372,912
5,008,575
3,710,353
6,743,300
4,003,464
1,830,408
1,500,000
792,428
+975.1
Oct. 4, for four years:
1913.
114,182,392
.57,636,558
28,383,904
17,406,093
11,275,439
10,433,664
6,727,658
6,682,916
5,856,333
3,725,321
3,448,559
2,328,901
1,864,195
1,348,099
131,792,604
+ 0.3
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.
below detailed figures for the
124,244,742
232,288
—3.2
States last year.
the week covered by the
—2.6
437,975
Salt Lake City..
—4.4
$3,067,335,724
$3,309,451,048
week....
317,271
135,291,844
762,597
North Yakima
—13.1
Tacoma
426,320
419,866
378,017
—15.5
Pasadena—
-2.2
Portland
Kansas
Total all cities for
+ 3.4
50,274,834
16,138,208
11,272,807
10,861,219
5,528,414
.4,176,954
5,934,763
3,456,741
1,593,427
1,100,000
815,788
721,714
802,520
678,060
576,853
300,000
-10.4
Angeles
—11.5
$3,015,672,837
*51,662,887
—5.5
58,725,315
22,977,315
12,605,004
12,639,147
5,119,780
3,294,085
6,188,993
4,270,175
1,963,423
2,939,343
1,093,400
"940,433
959,479
806,061
495,000
274,891
Seattle.:
$2,386,167,247
629,505,590
$2,754,034,835
Total all cities, 6 days.
We present
Lima
644,462
40,162
374,102
San Jose....
$2,138,560,016
615,474,819
Seven cities, 5 days.
noon,
+ 10.7
Reno
•
Baltimore-
*
457,847
—
Cent.
$1,710,864,756
144,244,752
142,057,606
32,196,119
269,742,092
69,230,461
17,831,461
$1,486,229,752
127,582,381
135,762,718
31,159,156
270,593,697
70,879,083
16,353,229
York..
New Orleans
506,793
Danville
Spokane.
Philadelphia
St.
+ 13.7
Ann Arbor
Los
1912.
1913.
Boston
Chicago
336,805
286,929
498,026
Hi-
Jacksonville,
Per
Clearings—Returns by Telegraph.
Week ending Oct. 11.
V
New
382,822
271,074
•515,000
Lansing
Jacob Seibert Jr.,
3,780,233,014 4,247,937,718
Y. 1,599,410,381 1,585,239,932'
650,074
349,838
—18.4
13,068,000
9,382,139
7,422,412
7,981,238
7,107,535
16,704,522
5,380,080
6,828,253
3,563,977
3,098,392
2,009,856
2,003,972
2,338,158
2,253,836
2,850,000
1,505,562
1,746,297
4,800,000
1,623,586
272,489
300,000
+ 11.0
420,000
—14
—17.8
+ 43.0
227,768,145
5,671,872
7,725,534
14,818,707
4,417,227
3,804,470
3,089,999
2,865,079
1,813,297
1,642,616
2,475,000
1,648,246
2,499,475
1,339,411
2,477,435
1,600,000
2,022,452
397,546
299,677
635,000
603,917
966,050
+ 9.9
9,680,500
9,000,237
6,900,000
+ 74.1
195,757,948
—11.0 3,373,723,713 3.227,929,155
+ 0.9
1,432.658,172 1,362,767,925
974
THE
CHRONICLE
The
OUR
in
to
mince words
We send
subscribers to-day the
October
"Railway Earnings" Section.
In this
our
our
publication
give the figures of earnings and
we
This
•
Commerce returns
to
earnings,
or
where they have
fiscal
a
from the June 30
year, as is the
York Central
Lines,
others.
.
the capital of the Federal Reserve
com¬
with the New
case
the
Pennsylvania
■■•V-'\"N<-
.
bank's capital in the
different
year
RR.
and
they
may
If
year,
process
expressed their opinion of the pending Banking and
Currency Bill in
as
uncertain tone.
no
tration leaders at
Washington
to the attitude of the
pending
If the Adminis¬
in doubt before
were
banking world towards the
measure, all occasion for doubt has
removed.
The
opinion
has
been
ex¬
pressed in Administration circles, and by the Presi¬
dent
himself, that opposition to the provisions of the
bill emanated almost
and
from
the
chief
entirely from the large banks
financial
to have been
now seen
a
pleasing fiction.
is not confined to the
large banks.
The small banks, the
'
is
Opposition
It is universal.
country banks in popular
dislike the proposition just as much as
parlance,
the
But this
centres.
others
even more
and
regard their interests
and
welfare
seriously threatened.
These country banks had a
dis¬
district
banks,
provided by this bill,
next year,
or
so
fix the compensation at
can
may
and
to the Govern¬
make it 4% next
nothing—a
and
year,
simple and
easy
whereby the entire Capital of the banks
may
very
be transferred to the Government."
The Commis¬
sion then goes on to show that what is
proposed is
only another form of Socialism, though it does not
go
by that
Here is what they
say on that
name.
point:-
been
now
frequently
they
they
3%> 2%, 1%,
The bankers have
gone on record this week and
or
capital is all transferred
bank.
5% this
manner
appropriate one-tenth
until the
on
ment
THE FINANCIAL SITUATION,
In
required of all national banks, and the limitation to
5% of the dividends on the stock thus subscribed
for,
the Commission
argues with much force that "if
the Government can
appropriate one-tenth of a
give fixed charges in addition
or
gave un¬
cussing the provision for compulsory subscription to
statements where these differ from the
own
in
ers
y
Earnings Supplement also contains the
panies'
in
characterizing the bad and objec¬
features, and it is significant that the bank¬
attendance, by vociferous applause,
qualified endorsement to what was said.
ex¬
for the latest months of every operating steam
Washington.:
uncertain
no
tionable
railroad in the United States required to file
monthly
returns with the Inter-State Commerce Commission
at
xcvii.
Currency Commission's report was couched
language. The Commission did not
RAILWAY EARNINGS ISSUE.
number of
penses
[Vol.
meeting by themselves
"There are a great many different kinds of social¬
ism; but, however the various theories differentiate,
they all agree upon the fundamental proposition that
the
Government, that is the community, as g whole,
own all the real
estate, all manufacturing en¬
should
terprises, all banks, all transportation companies—
short, all money-making utilities.
This proposi¬
in
tion of the Government to take the
bank's
the manner
capital
provided, carried to the extreme,
would easily accomplish, so far as the national banks
are
concerned, this contention on the part of the
in
Socialists.
aFor those who do not believe in Socialism
it is very hard to accept and
ratify this proposed ac¬
tion on the part of the Government."
■
on
Monday, in advance of the general meeting on
Wednesday, and, with almost absolute unanimity
voiced
their
objections.
Only representatives of
institutions haying capital
ranging from $25,000 to
$250,000
allowed to attend.
were
lutions adopted in
subsequent
the
objections
will
be
our
banking
and will only
page
of such
are
making
a
a
We give the
news
say
column
here that
nature that the
serious mistake
if
he
Arthur
Reynolds of Des Moines, the President
Association, in his annual address, talked in a
similar vein, and his remarks likewise were
greeted
of the
with
frequent outbursts of applause, revealing plainly
of those present.
We shall print next
reso¬
the temper
on
week
a
most of,
legislator
disregards
them.
our
the
entire
"Bankers'
here
the
proceedings of the Convention in
and
Trust
following
Supplement," but make
from
excerpts
Mr.
Reynolds'
address because of their aptness and force:
What is said regarding the
duty of Congress
the investment of the banks in Govern¬
"We are facing proposed legislation which I can
ment bonds derives additional
emphasis from the" hardly regard as less than an invasion of the liberty
to protect
further decline in Government bonds
this week,
sale of
2% consols having been recorded
day at the low figure of 94^.
On
delegates from all the banks
and the
result
was
precisely the
Thurs¬
on
Wednesday the general' convention
which
were
of the citizen in the control of
a
•
met j
at
Here, also,
practically unani¬
mous.
that
Indeed, feeling ran so strong against the bill
difficulty was experienced in keeping the resolu¬
tions in opposition within moderate
not to
tions
bounds,
so
as
give offense to the President, whose good inten¬
are
admitted but whose endeavors
with alarm.
The report of the
of the Association
Commission
as
was
viewed
Currency Commission
approved and the work of the
represented
Chicago Conference
are
was
by
its
ratified and
action
at
the
endorsed, and
Congress urged to incorporate into the proposed law
the amendments recommended at
that Conference.
individual investments and
a
branch of the
country's
business which
should be left -to individual effort.
To deny us any share or voice in the
management
of
present,
same.
sentiment against the
proposal was
his own
property by
putting under Government management enormous
own
our
business
seems
both
.
"No nation in the world has
to
assume
under
that
and
unnecessary
unjust.
the
men
ever
•
found it
necessary
such broad powers as gre
contemplated
bill.
It will readily be
recognized
trained in the banking business and con¬
new
versant with the necessities of the
borrowing public,
ability to liquidate its obligations, could
act with better information and clearer
judgment
than political appointees selected
along partisan
lines, and with only casual regard for their experience
as
well
as
its
in the business.
"It is
unjust and un-American that 7,400 leading
business institutions in their respective
communities,
representing an aggregate of $2,000,000,000 of capi¬
tal employed, accumulated and managed with un¬
questioned ability and integrity, should be forced
Oct. 11
THE
1913.]
against their will into a system that is under
objec¬ yield
country was born in a spirit of liberty
oppression, and that great prin¬
and freedom from
ciple has come down through the centuries with added
strength en every generation.
Our institutions are
not run under the lash of the Government, but pros¬
ties,
patriotism of bankers are regarded with suspicion
by our lawmakers; or that it is believed that bankers
are not to
be trusted in the management of their
business, through which the needsTof the com¬
of the country have been so ably served in
merce
that it is believed that banking should be
restricted, than other classes of business, ex¬
more
the experience of bank¬
ers in their chosen profession should not be of value
in the preparation of a new law; or that in the pursuit
of politics the best thought of the country on so im¬
portant a problem will not be given fair consideration.
cept
to supervision; or that
as
outspoken utterances will receive the com¬
These
thoughtful citizens and ought to be
mendation of all
effective in
of the bill
securing
so
as
to
a
have
we
aggregate product of 753,233,000
an
730% million bushels in 1912.
Oats would seem to have
modification of the provisions
deprive it of its chief elements of
rains in
September,
estimates of
bushels
the
for
yield
whole
per acre
On the
1.
Oct.
benefited slightly from the
the Department advances its
as
country
from 27.8 bushels to 29.3
basis the production
new
figures
The barley crop is expected to turn out
the record.
little better than the Sept. 1
a
to warrant
in
We cannot
see
how Congress or the Admin¬
proceed in plain defiance of the prac¬
can
banking
in his
address, which was on the subject of "Agriculture
in the United States," devoted the greater portion of
his remarks to a discussion of the proposed bill and
tically unanimous sentiment of the entire
We observe that James J. Hill
community.
uttered
a
plain note of warning of the consequences
that will be
sure
to follow "if
Congress, in a spirit of
recklessness, shall proceed to put the bill on
books
statute
cannot persuade ourselves
may
remain unmoved,
that
Congress will fail to give heed to
we
record
seriously affected by dry weather, show a de¬
Department estimating
very
cided shrinkage this year, the
only 319 million bushels, or 102
the crop at
below the outturn of 1912.
official
Government for Oct. 1,
report of the United States
foreshadow
grain
in the
shortage
considerable
a
of the country in 1913, but the exact general
situation can be best indicated in tabular form as
crops
"■
'
appended:
Final
Winter wheat
—.
5io
330
—2,373
—1,122
Oats
Barley
—
_
173
•
160
Total
-
.4,456
5,533
1
330(1912)
3,125(1912)
1,418(1912)
1,186
-
174
33
4,268
224(1912)
'
4,916
36(1912)
35
36,
Itye__
201
2,886
'
922
224
Records.
493(1906)
434
•
2,531
1,418
-
191
3,125
243
Spring wheat—
Corn
1910.
431
Previous
Final
1911.
400
1913.: *
Firial
1912.
Estimated
(000,0005 omitted)
; 5,626
foregoing compilation carries its own
The
deduc
Comment, therefore, is unnecessary..
tions.
this general
The commercial failures statement
is less
whose dimensions cannot be
of liabilities
possible calamity
gauged in advance.
indicated by the report of the
being greater and the amount
materially in excess, and the showing
the third quarter
grain-crop situation in the United States on
for the United
September 1913, as was the case in August,
favorable than that for the month in 1912, the
States for
number of insolvents
the first of October, as
millions
.
foregoing remarks, based upon the
The
protest and save the country from a
The
small
event) promises to be close to last year's "
total.
White potatoes, on the other hand,
any
the
Though the President
unchanged..
investigations seemed
and the yield of rye (comparatively
Production.
istration
1,122,139,000
out
against 1,418,337,000 bushels last year—
bushels,
-
danger.
the pre*
(that of 1901) and contrasts with
vious largest crop
because they are founded upon principles of
liberty and equity and justice to all the people.
That a financial system which is the very foundation
of the country's prosperity must in order to succeed
be founded upon those principles goes without say¬
ing.
•
•
/
We are loath to believe that the integrity and
the past, or
estimated as 510,519,000 bushels (the high
cereal),and,combining the two varie¬
bushels, which exceeds by 5 million bushels
per
own
was
record for that
tionable control.
This great
975
CHRONICLE
of. the year is of the same character.
Furthermore, while during the
fewer firms
were
for
nine-months period
forced to the wall than a year ago,
Thursday, the aggregate indebtedness was very much larger, a
particular from the conclusion comparatively few disasters for considerable amounts
accounting for that result.
These large failures,
arrived at by the same authority a month earlier.
U In corn, an improvement of two-tenths of a point moreover, were not confined to any particular divi¬
during September is reported by the Department, sion, as we have pointed out from time to time in
our monthly remarks.
According to Messrs. R. G.
making the general average on Oct. 1 65.3, against
Dun & Co.'s compilations, the number of failures in
82.2 a year ago
and a ten-year average of 80.6.
September was 1,235. for $22,662,694, against 1,167,
On the basis of the current condition, the average
Department of Agriculture made public on
differs in
yield
per
no
essential
acre
for the whole country is"
as
22.2 bushels,
and the aggregate crop
million
water
with liabilities of
$13,280,511, in September last year,
Disasters
of the
1913 aggregate, this comparing with but $7,152,623
(the smallest since 1903), against 3,125
In 1911 the indebtedness reported was
bushels in 1912—this latter being the high- a year ago.
officially
bushels
estimated
mark.
or
the lowest since 1901,
is figured out as 2,373,000,000
JJEhether
the
Government will find
warrant to further raise the 1913 corn
aggregate when
the final estimate is made in December is,
of course,
the opinion
the Department's Oct. 1 condition average will re¬
flect more accurately than usual the size of the crop.
The indicated yield of spring wheat is now stated the
same as in the Sept. 1 report—13 bushels per acre,
or a total crop
of 242,714,000 bushels, against 330,348,000 bushels in 1912.
In August the winter-wheat
problematical; but
crop
experts express
and
only 827, for $11,900,568, in 1911.
among
manufacturers account for $13,320,101
only
little
a
year
since
over
4 million dollars.
showing for the third quarter of the current
The
(July-September, inclusive) is much the poorest
1896, and the total of liabilities for the
months exceeds that of any year
true, of course, that last year
number
edness
months
was
larger
but in each instance the volume of indebt¬
was
for the
nine
It is
and also in 1908 the
of failures for the nine
than now,
since 1893.
of noticeably lesser
period this
year
magnitude.
Defaults
numbered" 11,712, against
976
THE
CHRONICLE
11,816 in 1912 and 9,944 in 1911, and the amount
involved
was
$196,746,376, against $153,544,360
$138,865,620, respectively; Manufacturing lia¬
and
bilities for the nine months
aggregated
less than
1912.
$88,058,194, against $65,693,312 in
no
In this
division most of the branches into which the failures
are
segregated
over
a
cord
increases
in
increase of 14 million dollars
failed
indebtedness
last year.
over
international amity and
Japan
of
peace.
Monday formally recognized the Chinese
on
Republic in
a
quarter of
hour
an
after
of the election of
President Yuan.
similar step and other
a
undoubtedly, follow
re¬
xcvii.
This declaration I make with
the view of maintain
ng
indebtedness
Trading debts at $83,806,688
year ago.
an
The
exhibit-
[Vol.
ly sent
a
reading
notification
Russia has taken
foreign
governments
will,
suit.
President Wilson prompt¬
message of congratulation to President Yuan
follows:
as
'
1
-
brokers, &c., at $24,On this auspicious occasion
881,494, contrasts with $18,204,061 a year'ago. Anof your
Excellency's
analyzing the results for the various sections of the inauguration as Chief Magistrate of the Chinese
Republic, I offer you, Excellency, my
country for the nine
months,
find that the Cen¬
we
section, comprising the States of Ohio,
Indiana, Illinois, Michigan and Wisconsin makes the
least satisfactory
showing as compared with 1912,
although all the various groups except the Western
-
(Montana, Idaho, &c.) report increases
of liabilities.
Bank
portion of 1913
were
represented
$8,899,613, against $20,905,254.
A
On
Kai
liabilities—only
formally elected President
Republic by
of
majority of two-thirds of
a
Three ballots
twelve
candidates.
and Dr.
were
hours.
cast and the
There
Most
were
Yuan Shih-.
the Chinese
the members
voting occupied in
than
more
twenty
of
these, including Dr. Yat-Sen
Wu Ting-fang, were eliminated on
the first
ballot and Yuan Shih-Kai and Li Yuen
latter Provisional
Heng, the
-
Vice-President,
contest.
On
the
final
ballot the
Shih.-Kai, 507; Li Yuen Heng,
were
General Li Yuen
Heng was elected
receiving 610 out of the
left in the
result
179.
was:Yuan
On
Tuesday
Vice-President,
total of 719 votes cast.
The
inauguration took place yesterday (Friday) within
City, amidst great pomp and
splendor,
the Forbidden
the evident
the army.
object being to impress the nation and
In his message of
acceptance, President
Yuan particularly
to
invite
and
foreign countries.
said:/ '
emphasized the desire
maintain
friendly
•' "
of
relations
On this subject the
new
China
with
good-will of the. friendly Powers.
for
all
citizens
of
en
the
It is most im¬
Chinese ; Republic
to endeavor to
international
With
friendship.
sincerity I hereby declare that
conventions
and
other
by the former Manchu
engagements
and
strength¬
treaties,
entered
into
provisional republican
with foreign governments shall
be
strictly observed, and that all contracts
duly con¬
cluded by former Chinese
Governments with
foreign
companies and individurls shall also be
strictly
Further, I declare that all rights,
privileges and
immunities enjoyed by
foreigners in China by virtue
of
,
international
engagements, ^national enactments
nd established
usages are hereby confirmed.
There
week
between
have been
no
official
strained
relations
with
the
two
announcements
a
Japan.
in
the
'
-
concerning proposals of
settlement
The
this
of
two
our
govern¬
ments
are in a state of virtual
deadlock.
Japan still
demands that the United States shall
grant to Japanese
here the same
rights of land ownership as are accorded
to other aliens.
On this point the United
States
has conceded
nothing and th€ Japanese contention
remains unsatisfied.
The Japanese
newspaper "Jiji
-
Shimpo"r is quoted by cable
as saying
"Japan, finding the naturalization
last:
Sunday
on
of
Japanese
in California most difficult is
about to propose a new
treaty with the United States.
which
have
been
delayed
Formal
on
negotiations,
of
account
ton's preoccupation with the Mexican
the Tariff
Bill, will be begun at
an
Washing¬
trouble
and
early date."
It is
.denied at the State
Department that
been received from
Japan of the coming of another
communication.
preparation of
rece
ved may
note is
any
It is possible that the
reply to
a
the
notice has
delay in the
Japanese note last
be due to the expectation that another
to be delivered.
soon
change in the date for holding the pro¬
posed Mexican elections from Oct. 26 has been an¬
nounced.
Our
State
Department, according to
Washington correspondents, is convinced that Presi¬
dent Huerta intends that there shall be
Report
was
comes
ordered
tinue his
Mexican
all
governments
observed.
relations
cementing
No official
foreign Powers toward us has
always been that of peace and fairness, and they have
given us cordial assistance whenever the occasion
arose.
This, of course, is due to the civilization of
the world; yet all the same we
highly appreciate the
portant
firmly
President
■
The attitude of the
clearly to understand this and
more
countries."
of the two houses of the Chinese
Parliament sitting
in joint
assembly in Peking. The term of office is
for five years and but one
re-election is permissible.
all
you
preserving and still
friendly and cordial
•
Monday last Provisional President
was
assure
the advancement of China
and conduce to
the peace,
happiness and prosperity of her people.
It will be my pleasure to
co-operate with
In 1911 the figures
respectively, 80 and $18,964,237.
were,
in amount
comparing with 63), but
much smaller total of
a
my hope and expectation
that,
guided by the principles of right and
justice and the
high ideals of republican government,
your Excel¬
lency's administration will be so conducted as to
suspensions during the elapsed
greater in number than in the
like period of last
year (85
congratulations
the trust and confidence
Teposed in you by the
National Assembly, and felicitate the
Assembly and
the Chinese
people on the selection for that high and
honorable office of a
gentleman so eminently quali¬
fied as yourself.
It is
on
tral Eastern
pay
as
no
change.
from Paris that General Felix Diaz
by President Huerta
on
journey to Japan
as
President
await
and
Ambassador
to
Sept. 17 to
special
ceasing
at
orders
the
con¬
of the
envoy
there, his
time.
same
Friends in Paris of General Diaz believe that when
he arrives at
will receive
Havana, whence he is
an
order to return to
now
Europe
bound, he
on some mili¬
tary mission, and that if he disobeys and continues
his voyage to
Vera Cruz, he will be arrested there
his arrival.
The
on
•
military contests in Mexico appear to have been
equally important to each side,
little net
change.
so
much
so as
A defeat of the rebels
to leave
at
Santa
Oct. 11
Rosalia
eral
to be confirmed.
seems
Advices from Gen¬
Mercado, Military Governor of the State of
describes the result
Chihuahua,
The town
enemy.
as
rout of the
a
,
re-captured, according to the
was
Governor, who added: "The victory is of great im¬
that the trains by which
portance because of the fact
the enemy
captured,
This
of
expected to retreat to the south have been
as
well as large quantities of war material."
victory, with the occupation by General Maas
Sabinas
march to
his
on
Piedras
977
CHRONICLE
THE
1913.]
Negras,
has
Churchill
pointed out that within two
there must be
general election.
a
won
the
Home
would be
that election, it
of Northeast Ulster for
was
the
as
wrecking
a
only consti¬
them unless
settlement
a
Obviously, the claim
special consideration for itself
forward in sincerity and
claim which, if put
not
If the Unionists
to them to repeal
could be reached by consent.
a
that is,
open
That
bill.
Rule
tutional remedy open to
was
years,
Home Rule bilhcan be fully operative,
before the
could not be ignored
maneuver,
There
not a demand which
greatly encouraged the War Department officials.
by the Government.
The Federal army on
Tuesday finally took possession
the Ulstermen could make which would not be met
shot, the Consti¬
by their Irish fellow-countrymen and by the Liberal
of Piedras Negras
without firing
tutionalist troops
marching
a
away
the approach
on
On the other
hand, the Federal
troops were defeated at Torreon,
which, according to
of
Federals.
the
the Mexican Minister of the
into
the rebels
of
hands
the
Interior, probably passed
Oct.
on
General
2.
Federal officers, is
Alvirez, with his staff of
re¬
ported to have been put to death by the rebels.
The General had started for
Durango when he
defeated and his
captured by the rebels.
artillery
Generals Ignicio Bravo,
it is
was
was
Munguia and Escuredo will,
reported, be court martialed, as there was no
for their evacuation of Torreon,
reason
the War
surance
man
Department
Germans
Thursday, that Spaniards and
killed at
were
was
according to
Reports were received by an in¬
in Mexico City, and also by the Ger¬
company
Bank there, on
the victims
.
not
The number of
Torreon."
One story of the fall
reported.
of Torreon is that the Government troops,
4,000
numbering
who had not been paid for weeks,
or more,
pmtinied and shot Generals Alvirez and Bravo and
officers
other
several
and
foreign residents resisted and were shot.
by
restored
a
mutinous
the
They
troops.
Home Rule into
quickly
workers has not
yet been settled,
although there have been some
desertions
who have returned to work.
Sir
George Askwith, the "strike breaker" of the British
men
Board of Tratdfr. submitted to
employers
Monday
on
a
were
unalterable,
men,
that it did not
and added that
disputes.,
pro¬
but the employers
"sympathetic lockouts" were equally
a
method* of dealing with labor
.
It is stated that
are
The report of
"sympathetic strikes,"
provide guarantees.
as
and
more
than 20,000 families
condition—there must be agreement.
the
after
view
Without apparent
a
definite basis
a
feeling
seems
to
compromise will be reached by
which the Irish Home Rule bill will be
by the English
Parliament
tion.
S.
Winston
and
placed in opera¬
First
Churchill,
finally enacted
Lord of
the
Admiralty, speaking for the Government at Dundee
on
Wednesday, defined his position toward the Irish
question in brief
and set up an
to the
as
follows:
"We intend to create
Irish Parliament in Ireland subordinate
Imperial Parliament, with
tive for the
conduct of purely
In
an
inter¬
meeting Mr. Churchill expressed a
settlement of the Irish
strong personal belief that a
This
conciliatory,
question would be obtained before very long.
speech of Mr. Churchill was much more
than
delivered
one
Monday evening by Home Sec¬
on
who declared that "we are not
retary MicKenna,
going to submit either to rule by minority or to
declared, "will
of Commons
the
he positively
Home Rule * bill,"
"The
anarchy."
next session through the House
pass
by authority of the representatives of
people, and if again rejected by the Lords it will
under the Parliament Act."
pass
President
The
of
to
Tuesday
in
the re-entry of Spain into European
mean
minor
a
great Power after a century's occupation1'
The King met the President
position.
at the railroad station whence
Royal
amidst
Palace
crowd.
Poincare,
three days' visit
agreement of importance which may
an
as a
Raymond
on a
The visit is expected to
King Alfonso of Spain.
politics
of
France,
on
arrived in Madrid
This
was
they proceeded to the
from
cheers
hearty
a
vast
considered reassuring, as attempts
had been made to induce the
festivities that had been1
French President.
Francis
Burton
Governor-General
Manila
people to boycott the
arranged in honor of the
1
•
and
Tuesday
on
was
a
responsible
Irish affairs."
execu¬
Mr.
the newly appointed
Harrison,
of
the
Philippines,
arrived "at
the steamship Manchuria
on
enthusiastically greeted.
Mr. Harrison
on
landing went immediately to the Luneta, where from
the
grand stand he delivered his inaugural address.
This
feeling the pinch of hunger.
growing that
Act far-
Parliament
under the
broadly
the
Philippines.
"We
Secretary Garrison, stating
Administration's
The
received from
instructions
embodied
address
President Wilson through
be
A settlement by
the ground that the plan would
the commissioners condemned
reprehensible
one
reaching alterations were possible but only on one
trouble, that it was too elaborate and
not solve the
in Dublin
and their
These
disputants.
accepted by the
failed to agree, on
men
schedule of proposals to
form the basis between the
posals
both the
carry
than
The Home Rule bill was not
thing now in sight.
possibly
by
could
more
agreement would offer advantages far beyond any¬
result
semblance of order.'.-'
The strike in Dublin of transport
being, but it needed
party to make it a lasting success.
The rebels,
learning of the uprising, entered the town and were
joined
Party unaided.
The Liberal
Party.
was
Many
looting.
began
*
policy
regard ourselves
as
towards
the
said in part:
Governor-General
trustees, acting not for the
advantage of the United States, but for the benefit
cf
tthe
a
independence, and
rapidly
as
we
we
view to the ultimate inde¬
pendence of the islands and
as
Every step
people of the Philippines.
take will be taken with
as a
preparation for that
hope to move toward that end
the safety and the permanent interests
of the islands
will
permit .
experience will guide
us as
After each step taken
.
to the next.
The Admin-
978
THE
dstration will take
one
step at
appointive commission,
well
majority in the
a
and thus in the
in the lower house of the
as
It will give to
once.
the native citizens of the islands
do this in the confident
CHRONICLE
as
upper
It will
Legislature.
hope and expectation that
(Vol.
certainly does
reaction
in
not
Kingdom for the
359,000, or an increase
with
September of
£42,425,000,
of
exports showed
of the
commission
under
the
arrangement,
new
political capacity of those native citizens who
have
already
their
people
sentiments
forward to represent and lead
come
in
affairs. ■>With
and
policy I
in
am
Wilson's
President
complete accord.
Within the scope of my office I shall do
my utmost
to aid in the fulfillment of
confident
of
shall
we
promises, and I
our
am
exports
gate
On the
of
one
poor
of
securities and
as on our own,
depression.
the
Efforts to test the
results that have attended the offerings
given
by the higher Bank rate.
by
London
one
plentiful investors will
market.
At
the
British
have been under
not
correspondent
severe
lant to coffee
a
falling
has
appealed to
been
going
The artificial stimu¬
"valorization" and the
as
extremely high prices that
rubber
to be
Brazil
prices known
a
securities
and it is reported
are
period of inflation.
a
on
Brazilian
pressure
support Brazil's credit.
through
operate
centre
by cable that the Rothschilds
to
The
logical, namely that while investment funds
seems
were
touched by crude
two ago not unnaturally created a
year or
superstructure that could not fail to collapse when
these two distinct props were withdrawn.
rubber
has
market,
exports,
straits.
Coffee
well below the
enforced
The crude
the rubber share market,
as
is
not
quite
so
figures of the valorization
bad
but is
Thus,
era.
period of contraction has arrived and
Brazil is very hard pressed to maintain its credit.
Its latest loan is
Brazilian
bankers
now
quoted in London at 92 and
railways have declined sensationally. Paris
reported to have been selling Anglo-
are
French favorites in London in order to release
they have been
as
commitments
in
so
completely tied
financing the
up
funds,
by their
in the Balkan
war
States.
Active demand for
England will,
On
gold, especially by Egypt,
seems
slight provocation, advance their
minimum discount rate to
rise to
5% last week.
situation in
5J^
or
6%, following the
It is conceded that the
London will
be
during the remainder of the
one
year
of
some
a
a
sufficient
higher bank rate.
Lord
land
any
substan¬
cause
for immediate action for
At Birmingham,
on
Wednesday,
Milner, in his presidential address at the Mid¬
Institute, referred to the world-wide depreciation
higher
South
in
The
wages.
America
may see a
than
firmness
by New York from the Bank
of government stocks and said
for
money
and international
banking interests here-are advised that
tial withdrawal of gold,
would be
lies
United
:
whole
open.
competition there
the
£1,182,000, the total
total
£437,126,000,
were
or
than last.
States.
"Capital has struck
vast
continent
The twentieth
on even a
of
century
greater scale
Germany's dash into
require
corresponding
a
Sauerbeck's
*
index
September of forty-five commodities,
in the "Statist" of
advices, shows
J3ri:i
surplus
capital."
The monthly
oard of Trade for September
of
banking
price for the end of
presented
as
Saturday last, according to cable
advance to 85.7 from 85.0 at the
an
end of
August (the
1877,
being
of the eleven-year, 1867-
average
100).
The
City of
Edmonton loan,
recently offered in London, was only partially sub¬
scribed, 50% being taken by the underwriters.
The
New Zealand
Government is arranging an issue at
the British centre of
£3,500,000 ten-year 4% bonds,
which will be offered at 9SYloan of
couver
4J/£%, which
The City of Van¬
was
offered last week at
95, remained to the extent of 86% in the hands of
underwriters.
A
£2,300,000 4J^
per
St.
Petersburg municipal issue of
cents is offering at 93Y-
London
dispatches state that the rise in the Bank
undoubtedly check the flood of
that has started off
so
freely.
rate will
capital
new
issues
The Interborough has
offered
$5,000,000 in bonds in London, all of which,
understood, have been marketed.
it is
Paris has been selling the older Balkan securities
in
though without
London,
prices of, those securities.
closed at 54,
appreciably
Greek
did these
Servian unified fours at 83, Bulgarian
figures indicate
any
Money
closed in London at
@4%
week
a
lower at
last
3lA%% which
had
week
compares
with 3Y
Russian fours finished Y, point
ago.
representing
been
a
commitments
89)^ and German Imperial threes
week,
that
instance
no
against 73 3-16
day-to-day
for
rates
In
net change for the week.
British consols closed at 72 7-16,
ago.
affecting
monopoly fours
sixes at 101 and Turkish fours at 86.
made
an
were
2
advance of 3 points
from liquidation
recovery
by
necessary
of the German settlement.
the
,:
v
exigencies
.
■On the Paris Bourse the week's feature has been the
selling of Russian railways and industrials and also
Russian
resulting from the
Consols,
of
news
attractive
Russian
the Credit
Lyonnais and the Banque. de-'Paris.
French
markets,
railway
loan to
taken altogether,
seemed* to indicate that the
more or
be
an
offered by
however,
The
have
less compulsory
selling of the last fortnight has quite fully spent
French
itself.
87.85
a
rentes
week ago.
closed
There have been
that the Bank of France
Bank of
at
87.92p£,
some
against
expectations
might this week follow the
England in advancing its discount rate, but
they have not been fulfilled.
The relations between
/
Turkey and Greece appear on
the surface to be somewhat more
return of the
year
'/
.
still maintained
are
volume
the notice
stupefy¬
Really only Britain, France and the United
anv
re¬
increase* of
an
.'V
Prices of commodities abroad
of
including
U-
ing.
have
increase
an
exports,
the front rank of industrial nations has been
States
re¬
or
representing
The
points lower at 74, following
the basis of reports that the Governors of the Bank
of
were
The
£35,923,000. September had one less Sunday this
gradually declined and the rubber industry is in
severe
an
well
as
£61,-
The exports
ago.
contraction of
£559,802,000,
and
pulse of investors in London have been discouraged
are
year
the
£4,180,000, comparing
decrease-c| £779,000.
a
a
£28,838,000.
-
foreign stock exchanges,
explanation
month amounted to
of
of
reports
imports into
.
by the
new
a
recent
a; decrease of £1,For the nine months the imports
aggre¬
facilities.
week has been
or
the
The
being £49,278,000,
981,000.
thereby hasten the coming day
independence."
trade.
United
immediate proof will thereby be
given, in the action
the
confirm
foreign
xcvii.
cordial, following
by the French Government to which
we
referred in last week's
"Chronicle", to the Sultan that
it would not discuss
the projected Turkish loan of
Oct. 11
THE
1913.]
pending questions between
Turkey and Greece, including that of the Aegean
Islands, had been cleared up.
A recent dispatch
from Athens, by way of Rome, states that Turkey
agreed to allow the Powers to settle
and Greece have
the
differences between the two countries.
of Finance, Marghi Loa-
treaty
The Roumanian Minister
has left Paris for Berlin, having been unsuccess¬
man,
negotiations for
ful in concluding
a
loan
His failure
..
by cable to be due to the revision of the
is declared
exterior
law, raising the fiscal taxation on new
tax
2% to 3%.
loans from
*
This tax will not handicap
bankrupt Balkan States, but it is apt to
loans
to
keep
responsible
borrowers
described
stagnant,
as
Cable ad¬
price fluctuations very irregular.
with
declare that the advance in
vices from that centre
English Bank rate was a surprise to German
the
who, in view of the discontinuance of
financiers,
Germany's gold purchases, believed that the English
demands.
would meet other gold
Bank
shares have ruled
particularly weak
on
*
Shipping
the German
market, owing to notices by several lines of
with¬
An inter¬
shipping-pool agreement.
drawal from the
published late last week by the
of which has been re¬
esting statement was
Deutsche Bank, a summary
It asserts that only the vigorous
intervention of the Bank in the affairs of the Princes'
ceived by
cable.
Trust saved the Trust
ventured
losses
upon
in
the
describes
direction
one
The Trust
without
wras
engaged in
Trust
as
subsidiary companies.
number of undertakings
a
adequate amount of ready funds
an
with which to finance
with
consequence
the
the
wise
natural
a
from the October settlement.
recovery
(other securities) indicated a decrease of £2,-
Loans
deposits,
677,000 and public
but
lation
most
with
increase of £1,385,000 in ordinary
an
The proportion of reserve to liabilities
reduced to 52.79% from 53.26% last week. A
was
and
£35,712,331
to
compare
and £27,227,928 in 1911. The loan item is the
favorable comparison of the statement.
It
most
stands at £25,523,000
in
and
cable
in the open
market; exports, £1,215,000 (of which
£1,195,000 to Egypt and £20,000 to India),
ments of
in
the German economic world of
it heavily x for
The financial press remarks that
Deutsche Bank "expose a state
which
exceeds
even
the most
and ship¬
£736,000 net to the interior of Great Britain/
gold holdings of 2,252,000 francs
An increase in its
is
registered this week by the French bank.
silver
was
supplies
francs.
a
contraction in discounts of 201,875,000
Deposits
were
reduced in the
aggregate
68,100,000 francs and the Bank's advances
increased
The Bank's gold now stands at
One year ago the amount
francs.
3,235,075,000 francs and in 1911 3,120,575,000
francs.
The silver stock is 633,153,000 francs and
was
with 756,200,000 francs in 1912 and 796,-
is
The circulation outstanding
This compares with 5,431,-
5,760,144,000 francs.
5,446,768,000 francs in
the large
966,000 francs in 1912 and
1911.
The
notwithstanding
discounts,
of the week,
reduction
still stand at 1,449,153,000
and 1;,General deposits are
francs, against 1,330,071,000 francs in 1912
452,458,000 francs in
1911.,
by this week's statement 547,740,000
the total
was
francs.
been made
Private
by
change in official bank rates
any
"
discounts, however, have as a
closed at
week
whole been
bankers' acceptances
4^@4%% for spot (against 4^@4^% a
4%@4%%
Rates for bills to arrive have
ago), and 90-day bills finished at
(against 4^@4%%).
advanced sharply,
and
has
of the European banks this week.
maintained. In London 60-day
closing at 4^@5% for 60 days
5@5%% for 90 days.
One
695,216,596 francs and in 1911
551,798,883 francs.
additional
Its
reduced 1,644,000 francs. There
20,075,000 francs in note circu¬
were
increase of
an
lation but
year ago
extravagant fears."
No
,
Imports, £66,000, wholly bought
the Bank week:
3,462,056,000
difficulties,
peril which would have overhung
demoralization
Our special cor¬
gold movement into and out of the Bank for
of the
amounted to more
than $15,000,000.
We rejoice, however, to say that
developments have taken place in the meantime
of
with £32,855,496
respondent furnishes the following details by
"when the trust was
serious
owing to the Deutsche Bank,
the revelations of the
compares
£28,296,644 in 1911.
1912 and
compares
months."
reserves now
against £27,192,560 one year
stand at £24,930,000,
ago
The
£37,958,130 in 1911.
and
1912
They amount
with• £37,913,485 in
and the year preceding.
of last year
800,000 francs in 1911.
many
The gold
the proportion was .48.84%.'
ago
year
9,100,000 francs.
of having • extended its credits * to a
its obligations, apart from those
which have relieved
result of interest
deposits.
boundless extent,
a
as a
payments last Monday, were' reduced £3,750,000.
There was a contraction of £404,000 in note circu¬
"In July 1913", con¬
them.
tinues the Bank's statement,
confronted
It is evident that
gold demand has prevented what would be other¬
£1,482,000 in total reserves.
of
grave
exceeded the entire
alone
capital and reserve of one of its
-
a
having
the most reckless transactions. Its
It
catastrophe.
loss of
itself from ruin and the Ger¬
industrial world from
and
financial
man
a
£1,885,492 in its, gold coin and bullion holdings and
holdings of the Bank are about £2,000,000 below those
away.
In Berlin the markets are
England this week reports
The Bank of
all
$40,000,000 until
979
CHRONICLE
The private rate in Paris
In; this .week's return of the
Imperial Bank of :
Germany the features of strength are the
contraction
Discounts show a reduction
less than 259,202,000 marks,
in various obligations.
for instance
loans
a
circulation
There
was
while
total
pansion
of
no
decrease
of
a
an
of
35,124,000
contraction
increase in
cash,
of
marks
and note
marks.
203,048,000
gold of 16,283,000 marks,
including
gold,
showed
an
ex¬
Deposits declined
and Treasury bills increased
21,669,000
marks.
quoted,
Vienna re¬ 56,938,000 marks
marks.
Combining loans and dis¬
mains at 5^8%, Brussels at 4 7-16% and Amsterdam 24,871,000
counts, we have a total of 1,317,139,000 marks.
at 4 15-16%. Official rates at the leading foreign cen¬
This is a favorable comparison.
In 1912 at this date
tres are: London, 5%; Paris, 4%; Berlin, 6%; Vi¬
the corresponding total was 1,665,380,000 marks
enna, 6%; Brussels, 5%, and Amsterdam, 5%/,and in 1911 1,573,560,000 marks.
The total cash
remains at
3%%.
In Berlin 4%% is now
comparing with 4^@4}^% last week.
■
.
980
THE
holdings
1,386,718,000 marks.
are
the aggregate was
1,006,660,000 marks.
ago
The
CHRONICLE
One year
1,129,400,000 marks and two
item
'
•'
■
treasury of the Union Pacific
ago
venience.
years
of circulation [
2,252,595,000 marks, which compares with
2,105,240,000 marks, in 1912 and 2,046,640,000
and of
requirements
deposits.
as a
The
result of
institutions
of the week's
operations.
A year ago the surplus
down to almost the
reserve was
basis, amounting at that time
decrease in cash
banks,
The
$8,072,000.
The
loan
trust companies gained
reduction
for
the
week
was
The banks have been forwarding cur¬
quite freely to their Western correspondents
this week,
ment
unsatisfactory
entirely in the vaults of the
institutions, while the
$847,000.
rency
was
same
to $4,141,300.
loss of $10,423,000 being experienced by
a
notwithstanding the deposits of Govern¬
funds in the institutions of the
agricultural
sections.
Latest reports from
Washington show
Treasury deposits to be slightly in excess' of
$30,000,000.
Call money rates touched 5% during
these
the week and
marked
rates
for fixed
substantial
up
actionary tendency
the week. The
to
The
take
the
no
fractions,
specific demand
a
on
this
at
time
of
must
the
the question of
on
of the
the
be
sale
recent
considered
large cash fund
of
Southern
factor
a
situation, since it
in
means
the
Pacific
the
imme¬
that this fund
undoubtedly be available for short-term
loans
or on call for some time
to
come; until, in fact, the
Union Pacific
people decide upon some form of fixed
investment in the event of such
proving their final
decision.
It is considered
quite probable, however>
that
they will feel inclined
to await the action of the
Southern Pacific directors in
respect to the disposal
of the Central Pacific.
It will be recalled that in
the
original plan for dissolving the Harriman
Union
Pacific
proposed
to
purchase
merger,
the Central
Pacific at about
in its decree
$104,000,000. The Supreme Court
specifically agreed that the possession
of the Central Pacific
illegal.
are
The
by the Union Pacific
Southern
Pacific
ment
to
a
Department of Justice,
be successful in
as
in
the
courts,
would, naturally, become the
the Central Pacific line is
sion of the Union Pacific from
Ocean.
the
should the Department
forcing such action
then the Union Pacific
buyer,
or
Southern
wish of
a
natural exten¬
Ogden to the Pacific
In.that event the cash that is
now in the
already referred.
The lowest rate
3% and 334%
the ruling figure;
3%%.
was
On Friday the
with
the
(against 434@4M%),
ruling
range was
figure.
5@534%
for
four
months
4«54@5%), 4%@5% for five months
(unchanged for the week), and 4J4@5% for six
months
(against 4%%).
better supply and closed
Commercial paper is in
34% higher for the week a,t
534@6% for sixty and ninety-day endorsed bills
receivable and for four to six months'
single names of
choice character. Others are
quoted at
634@6M%-
Sterling exchange reacted this week from
the sharp
rise that followed the recent advance in the Bank
of
England rate.
There have been quite free offerings
of
bills
commercial
of
all
kinds, and especially of
grain and cotton bills.
London is still experiencing
world-wide demand for gold, and the idea
a
prevail®
among
that
important foreign
should
the
exchange
American
demand
agencies
for
the
here
metal
again promise to become active, Threadneedle Street
would
promptly
minimum
another advance
announce
discount.
It
is
in
its
possible that American
bankers will endeavor to avoid direct
importations
of gold from
Europe as the money strain on this side
should soon show signs of
moderating. Further¬
there is considered to be a direct probability
that importations of merchandise, under the more
more,
favorable tariff conditions will
greatly increase and
will thus furnish
a
correspondingly large supply of
The foreign demands for funds are this
•
*
''
'•
exchanges
year
of
in the
to
an
extraordinary character.
(
They include,
first place,
the financial facilities1 necessary
repair the waste of war in the Balkans. But an
greater
even
An
the
calling of loans that necessarily
(against
many,
to
been
Monday
Time
closed at 4%@5% for sixty days (against
4@4^% last week), 5@5J4% for ninety days
directors, however,
Should the
has
on
money
the
sell.
was
and renewal basis
in¬
finally accede
have
we
3@3%%,
threatened suit by the Govern¬
force them to
Pacific directors
week
touched
Tuesday 4% was the pegged figure, all transactions
being at that rate. On Wednesday 4% continued
the highest and
ruling rate, with 3J4% the lowest.
Thursday's highest was again 4%, lowest 334%
ments
are
was
Saturday's unfavorable bank showing, to
Monday
not
was
opposed to selling the Central Pacific and
clined to contest
on
re¬
decision of the Union Pacific board
action
diate money
will
a
by the Union Pacific Railroad. from
proceeds
stock
although
reflected the
this
money
The higher rate
followed
which
f
-
call
also
were
offering of $30,000,000 in Interbor-
disposition to be made
realized
maturities
shown towards the close of
was
ough bonds constituted
market.
and
of
on
not, unnaturally, a feature
these
3@5%.
were
shown to hold
only $3,695,150 above requirements,
and a calling of loans was
firm, though not uncomfortable, until
The' range
decrease of $5,476,000 in
a
into November.
all available funds.
reduction of $2,227,100 in such
Clearing-House
quite general in
the local money situation
as
companies of $9,576,000 in cash
a
will prove a great con¬
seems
assistance, it is argued, need be expected from abroad,
the European situation is itself such
as will require
obviously disturbed by
$7,348,900 in the surplus above requirements,
having been
xpvii.
The peak of the demand is
expected about the middle of that month.
Slight
unexpectedly poor statement of the New York
Clearing House on Saturday. This showed a loss by
there
remain
well
the
the banks and trust
expectation
will
marks in 1911.
were
The
local banking circles that
stands at
Local money circles
[Vol.
of the
demand is contained in the require¬
enormous
war-chests of
France, Ger¬
Austria, Russia and Italy, not to mention
sensational
naval
program
of
Great
Britain.
encouraging sign has been the renewal of the
foreign demand for American grain.
Thus far the
proposed shut-down of Lancashire cotton mills does
not appear
to have affected the good supply of cotton
bills that has been coming to the market.
The Continental
exchanges have continued
to rule
in favor of
last
London, sterling checks in Paris closing
evening, as reported by cable, at 25.2834 francs,
which is the identical rate of
a
week ago.
In Ber-
Oct. 11
lin demand
sterling closed at 20.46 marks, against
Berlin exchange in Paris
25.45% marks last week.
closed 123.55 francs, against
'
ago.
123.57% francs
v'
.
•.
•./;
^
a
week
V--'
Compared with Friday of last week, sterling ex¬
change
Saturday
on
was
weaker, with demand quoted
and
days
sixty
local
a
at
4 8180@4 8190.
and
rates
mon^y
caused
Firmness in
English
easier
drop of about 25 points in sterling rates
for cable transfers and 4 8165
4 8645
CONFISCATION.
on
4 8635@
@4 8175 for
On Tuesday there was a further decline,
sixty days.
LOUISIANA ADVOCATING RAILROAD
discounts
Monday to 4 8560@4 8570 for demand,
Whither
of
Government?
short covering; the range for demand
on
4 8550@4 8560,
was
and sixty
4 86@4 8610
transfers
After
days 4 8150@4 8160.
some
weak¬
opening Wednesday, there was a partial
at the
ness
cable
rally with the close slightly lower for demand at
8550@4 8555 and cable transfers at 4 86@4 8605;
sixty-day bills
market
the
were
was
here
ests
Higher dis¬
brought about
an
advance of about 10
cable transfers and 4 8175@4 82 for
sixty days.
On
.
Friday the market ruled firmer for demand bills
and
transfers which advanced 10 and 5 points, re¬
cable
while 60-day bills * declined 15 points.
spectively,
Closing
quotations
were
4 8160@4 8175 for sixty
days, 4 8570@4 8580 for demand and 4 8615@4 8625
for cable transfers.
Commercial on banks closed at
4
79%@4 81%, documents for payment finished at
4
80%@4 81%
4
84%.
aj$L§even-day grain bills at 4 84%@
Cotton
f(p payment closed at 4 81 ©4 81%,
dealing
longer to be attributes of
no
capital
Is
honestly-invested
even
the great
organs
of public
opinion, the daily newspapers, no longer to
as
a
guaranteed to it under the Federal
Are
Constitution?
pended
in
longer to have that protection which is its
no
due and which is
upon as
be de¬
champions of right and justice and
defenders of the weak and oppressed ?
These
of the
questions
suggested by the appearance
are
following double-leaded editorial in the "Daily
Picayune" of New Orleans
on
Tuesday of last week,
Sept. 30:
THE
on
4
was
;
and buying by speculative inter¬
Thursday in sterling quotations; the range
8560@4 8570 for demand, 4 8610@4 8620 for
points
State
unchanged at 4 8150@4 8160;
dull and featureless.
counts in London,
Are the railroads,
private property generally, to become the prey
the discontented and the unthinking?
Are hon¬
and
esty and fair
steadied
and wrong?
ing all sense of right
although before the close the tone
in money,
Is the community los¬
drifting?
are we
larger offerings of commercial bills and the firm¬
ness
4
proportion so held, and consequently duplicated in the above statement, is about
one-ninth of the total this year, against about one-sixth a year ago.
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 division (between gold and silver) given in our table of coin and bullion in
the Banks of Italy and Belguim is made from the best estimates we are able to
obtain; it is not claimed to be accurate, as the banks make no distinction in the
weekly returns, merely reporting the total gold and silver; but we believe the
division we make is a close approximation.
8584@4 8595, cable transfers at 4 8635@4 8645
at 4
on
981
CHRONICLE
THE
1913.]
STATE
RAILROAD COMMISSION.
The fact that the voters
of New Orleans and a few of the
adjacent parishes will soon have to vote
for a candidate
in the membership of the
State Railroad Commission serves to call attention to the
fact that this Commission could be made one of the most
to
fill the vacancy now existing
powerful agencies for good if its activities were
conducted
The Texas Railroad Commission
up the prosperity of the Lone Star
other single agency, as its work has com¬
along the proper lines.
has done more to build
State
than any
the boundaries of
above, all other
interests, to maintain general offices within the State and
even to actively discriminate in favor of Texas traffic,
so
as to prevent any of the products of the State from seeking
pelled every railroad operating within
Texas to
a
grain for payment 4 81%@4 81%,
place the interests of Texas shippers
market
outside
of its
boundaries.
Commis¬
a radical
The New York Clearing-House b^nks, in their tribunal, before which conflicting interests of shippers and
the railroads are impartially considered, but is strictly
operations with interior banking institutions, have
partisan, devoting its whole energies to securing for the
gained $1,239,000 net in cash as a result of the cur¬
people of Texas every advantage, no matter how the rail¬
rency movements for the week ending
Oct. 10. roads are affected. If our Louisiana Commission would
Their receipts from the interior have aggregated
think less of the railroads and more of the interests of the
$9,607,000, while the shipments have reached $8,- farmers, merchants and general shippers of the State, it
368,000.
Adding the Sub-Treasury operations, would be of much greater value to the people. It should
which occasioned a loss of $4,715,000, the combined
be its aim to take the side of the people against the railroads
result of the flow of money into and out of the New under all circumstances; in other words, it should be the
York banks for the week appears to have been a advocate and defender of the people in every case, no matter
loss of $3)476,000, as follows:
what the merits of the railroad's side of a particular contro¬
The secret of the success
of the Texas Railroad
sion is the fact that it makes no pretense
of being
.
versy
Sub-Treasury operations
'
The
in the
Out of
Net Change in
Banks.
Bank Holdings.
§9,607,000
19,951,000
Banks' Interior movement..
Total
Into
Banks.
*»
Week ending Oct. 10.
$8,368,000 Gain
,
§25,558,000
24,666,000
Loss
4,715,000
$33,034,000
Loss
$3,476,000
following table indicates the amount of bullion
principal European banks.
Silver.
Gold.
35,712,331
138,482,440
"ranee
.
57,960,450
164,298,000
50,828,000
18,707,000
45,851,000
taly d
feth'lands 12,360,000
tussia
a_.
lUS.-Hunb
ipain
JatBelg.d
iweden
iwltz'land
lorway
8,279,333
5,701,000
6,810,000
2,500,000
Silver.
Gold.
Total.
£
£
England..
Total.
35,712,331 37,913,485
25,325,640 163,808,080 129,403,120
13,700,000 71,660,450 41,687,800
6,305,000 170,603,000 155,967,000
10,754,000; 61,582,000 51,923,000
29,480,000 48,187,000 17,198,000
3,175,000 49,026,000 42,512,000
630,300 12,990,300 12,436,000
7,964,667
4,139,667 12,419,000
5,412,000
5,701,000
6,981,000
6,810,000
2,500,000
2,123,000
37,913,485
30,248 ,210 159,651,330
14,782 ,000 56,469,800
6,994 ,000162,961,000
11,123 ,000; 63,046,000
29,635 ,000 46,833,000
3,533 ,000 46,045,000
542 ,700 12,978,700
3,982 ,333 11,947,000
5,412,000
6,981,000
2,123,000
547,489,554 93,509,607640,999,161 511,521,072 100,840,243612,361,315
.week 547,556,483 ,94,601,600.642,158,083 513,039,027 102,442,453,615,481.480
otalweek
rev
W-m The total of gold in
that is,
the Bank of Russia Includes the balance held abroad—
the amount held for Russian account la other
Continental banks.
The
may
be.
Railroad
Commission should be composed
of able
with business, who can be relied
upon, under all circumstances, to make a strong fight for
the people against the transportation companies.
As New
Orleans is the commercial centre of the State, it is important
that the man chosen to fill the existing vacancy from this
district should be able and upright, as well as known to be
free from all railroad interests or influences.
So important
men,
fully conversant
of rewarding some
comfortable retreat for some poli¬
tician that has been left out in previous distributions of
favors.
The interests at stake are too great to be trifled
with in that way.
The "Picayune" will certainly counsel the
voters against supporting any candidate who is not fully
competent and willing to place the people's interests above
those of the railroads and transportation lines under all
a
Oct. 10,1912.
Oct. 9 1913.
Banks of
Jermany
$1,239,000
The
position should not be used as a means
political henchman or as a
circumstances.
of the
premises. He as¬
sumes, in fact asserts, that^thejjTexas Railroad Com¬
mission has been a phenomenaljsuccess, whereas the
Observe in the first
place that the writer
foregoing is reasoning from false
1)82
THE
-
fact is it has been
a
readers
that
to
Board has
of the
the
believe
It is
of the State has been
well-known fact that very
a
little
is that
capital for railroad
have
been
country,
blinding
THE
The
ena
change of policy'is
cated
iby
being strongly advo¬
now
:
'
''/vT:
OVER
of this
IRISH
HOME
RULE.
undertakes to
place to the present situation in regard to the
Hoiiie Rule legislation
the railroads must have better treatment if the State
been
for Ireland.
as
follows:
The
The bill
in
status
conferring
home rule and local
would
her vast domain
see
opened
to settlement
up
and cultivation.
self-government on Ireland has
passed by the House of Commons but rejected
by the House of Lords.
The
'
What,
however,
above advice of
advocacy of
chief attention in the
attracts
New Orleans contemporary is its
our
policy of State exclusion, the disre¬
a
gard of the rights of neighboring
States and the
complete abandonment of all pretense of fair treat¬
ment for the railroads within the borders of Louisi¬
The
ana.
Louisiana
Railroad
Commission,
it
is
contended, should make "no pretense of being a
judicial tribunal, before which conflicting interests
of shippers and the railroads are impartially consid¬
ered, but be strictly partisan, devoting its whole
energies to securing for the people of Texas every
advantage,
We
matter how the railroads
no
told that the Commission
are
are
affected."
"should
be the
advocate and defender of' the people in
every case,
what the merits
matter
no
of the railroad's side of
It is undeniable that the
is here
proclaimed has
on
covertly practiced/ and
restricting the veto
ago,
legislation of two
being taken
be followed
by the Lords.
legislation, notwithstanding the
Precisely this situation is ap¬
parently before Great Britain.
mons
has twice
The House of Com¬
passed, and the House of Lords has
twice
vetoed, the bill providing local autonomy to all
Ireland, to be exercised through a provincial assem¬
bly.
If the bill is re-introduced next spring and
passed by the House of Commons, which is at
the program,
ent
it will become
contrary action by the House of Lords.
This
has had
prospect
several
place, demand has
singular results.
grown
occasions in the past been
tion
passively
encouraged; but this is the first instance within
our
the
on
definite question
a
of Irish Home Rule.
Irish Home Rule
policy has
yet been
never
approved by the British electorate.
and
1910
responsible
organ
of public opinion has openly
espoused what is tantamount to confiscation, the
utter denial of protection of any kind to
large and
important investments.
The voters of the. State
urged to support only candidates for Commis-
are
sionership who will promise to
for
shippers at
and
who
no
will
secure
advantages
matter what cost to the railroads,
commit
themselves, in advance, to
ignoring entirely "the merits of the railroads' side."
The
"Picayune" is
influence, and
we
a
journal of repute and of much
cannot imagine what could have
possessed its editor when he urged
pugnant to all
a
doctrine
of right and justice and
sense
mental to the best interests of the State.
in
is
need
of
millions
of
outside
so
are
to
tician
be
regarded
and
the
as
legitimate
prey
She is
suggestion is
so
cussion of
it, and
we
and
never
leans
example
set
our
weakened,
its
no
argued
right to proceed
as
all Ministries
are,
by the
long tenure of power—leading,
that
the
the
on
as¬
a ma¬
mere
fact
such
pro¬
no
dis¬
mean
Recent bye-elections have in
pro¬
number
against the Government, indicating
changes of sentiment.
These shifts
Parliamentary majority would of themselves
comparatively little, for that majority is still
argu¬
general principles regarding the propriety
obtaining the electorate's opinion on the Home
on
seems
like
of
dis¬
Rule issue,
legislators at Washington in
a
overwhelmingly large; but, combined with the
ment
the New Or¬
as
opposition to various special acts of ^legislation
posed by it.
in the
asserting the right to appropriate, for the supposed
fought On entirely dif¬
was
therefore,
jority of the electors, and this argument is enforced
for the poli¬
.
by
is,
and
The previous
by the fact that the Asquith government has been
gone
"Picayune" would be found leading the horde
seeking destruction.
Evidently the bad
of crusaders
introduced
sumption that its Irish policy is endorsed by
space to a
paper as
It
present Ministry has
some
keep cropping up every¬
nowadays like noxious weeds.
We confess it
a
issues.
cases
would not refer to it except that
occurred to us-that such
general election of 1906
ferent
least
wild and senseless notions
where
applied in its rejec¬
passed by the House of Commons.
of
preposterous that it
as
budget and land bill
at
to seize everything within reach?
The
the
the question of the
on
longed consecutive continuance in office invariably
does, to dissensions among its supporters and to
demagogue and fit subjects to be
waste of time to devote
energy
of
lodged there
plucked for the benefit of those who deem it
grace
tion
primarily
prerogative
of
detri¬
How much of the needed supplies
of capital will the State be able to obtain
when it
once
House of Lords'
clearl/
vote
of
seeking it, too.
becomes known that investments
taken
was
The
so re¬
Louisiana
capital.
insistent for
general elec¬
The immediate ground for this demand is that the
knowledge where all disguise has been thrown aside
a
pres¬
law despite any
a
the dissolution of Parliament and for
been
in
a year apart from one another, should
by the automatic passing into law of the
House of Commons
veto
In the first
often
occurrence
Parliament of precisely such a deadlock, the votes
theory to which adherence
has
years
of the House of Lords,
power
provided that the third consecutive
one
a
particular controversy.may be"
a
/
extraordinary social and political phenom¬
year of unsettlement, he will probably give
It is felt that j this curious matter is
thoughtful Texahs.
many
DILEMMA
review the
due
a
;
justice.:
When the historian of the future
So generally is this admitted
that
portion"of the capital of the banks of
is having"a demoralizing effect/and
decent people to the ordinary require¬
a
new
recognized by enlightened public opinion in Texas
treated.;
even
of
xcvii.
re¬
shunning the State because of the harsh way the roads
and
[Vol.
.
ments
has been
purposes
:
general good,
the
has been
reverse
road has been built in Texas in recent years.
reason
1
promoted the advancement and prosperity
and the progress
tarded.
'* t
Texas
of the
policy
State, whereas precisely the
case
h
"He wants his
dismal failure.
the
CHRONICLE
I
*
.
they make
up a
reasonably strong
Meantime, however, the
government
in the matter
purposes
are
entirely unknown,
except for the fact that it is proceeding
gram
on
of pressing the Home Rule issue to
settlement next
spring,
case.
of the Asquith
the
pro¬
a
final
In most quarters, therefore,
it has been assumed that the Government
means
to
put its Home Rule legislation on the statute books
before
dissolving Parliament.
This belief has been
•ct.; ii i9i3. j
CHfiD'NICLE
THE
,iWv*i£
=4
!iiJ
the occasion
of
a
North!
remarkable demonstration in
Ireland—which, it
perhaps be:said, has
may
per¬
plexed and disconcerted rather than alarmed the
Protestant
shades
all
of
statesmen
of
selected
after his Irish
non-Catholic
for
House of
the
was
loyalty between James I.
III., Ulster enlisted
the side of the
on
Orange, and the adherents of that
familiar
the
bore
a
colonization
When Ireland itself
campaigns.
divided in the matter of
and William
is
It is the old field which
community.
Cromwell
Ulster
opinion.
of
name
cause
Orangemen throughout
subsequent generations.
greet the enactment of a general Home Rule law for
Ireland by
refusing obedience to the
But the
ment.
Irish Parlia¬
precisely what grounds would coercion then be
on
There
applied?
enforcement of
at
new
question would then arise, how and
routine
are
taxation, local
procedures
well
as
for
certain point the question of imprisonment
a
That
arise.
resistance.
is
ance
might
But,
conceivably
be
the
national, and
as
the
;
might
basis
for
the other hand, since the resist*
on
fundamentally to
an.
Act of Parliament, the
attitude, of the Ulster inhabitants would be> in the
naturejqf insurrec%^<against the. British Government
"
The
protest made by Ulster against its inclusion
in the domain to be
is based
Parliament
of the
on
the fact that the majority
population of Ulster is hostile to such
the
Catholics
long-continued
and
that
believing
Irish
governed by the proposed Irish
Irish
a
feud
policy,
between
would
Protestants
take
itself—in which
aside from the
by such
while
of
lic majority from
refusing in advance to accept the domination
Irish
an
Parliament, profess in the
con¬
that Ulster itself remain
Ireland, the law be
framed
the
Ulster from
new
However
of authority.
scope
so
as
to omit
Irish Parlia¬
proper
such
deny that
a
would
pur¬
basis political and not geographical,
awkward, if, indeed, not unworkable.
be
For this
half-way division of Ireland for such
a
on
there has been
reason
no
great surprise that
Ministry has not seriously considered that solu¬
tion of the matter.
But
Here is
tory.
meantime, recognizing this attitude of the
situation
a
'
intimately associated
more
possibly without parallel in his¬
^
and
numerous
imbroglio
frequent of
a
conference between the
two
Parliamentary parties with
—a
task, however, which
the fact that
such
no
one
a
view to compromise
seems
less promising from
is able to suggest
provisions of
On the face of
a
general legislative Act for Ireland.
things the situation
have
the comments of the press upon
resistance.
This demonstration has not taken the
uprisings
of irregular and unorganized
On the contrary, the demonstration has
protests.
been
or
public
formal,
and
deliberate.
formal
The
leadership of the movement has b.een in the hands of
a
responsible statesman,
Sir Edward Carson, on^
of the chief law officers in the recent Balfour govern¬
The so-called Central
ment.
ing
Authority, represent¬
sort of committee of public safety, includes, aside
Edward Carson, statesmen or local digni¬
a
from Sir
taries of
position and influence, such
Lord Lon¬
as
have the
of
view to
this,
What the Ulster Protestants
imposing leadership, is to
are
engage
doing, under this
in regular drill,
"under the command of
rank and with
retired-army officers of high
ostensible view to military discipline,
though bearing
no arms
in such exercises, and thereby
avoiding the specific prohibitions of such statutes
as
the Unlawful
purpose
Drilling Act of 1819, passed for the
of preventing assemblies with
insurrection.
armed
In
addition
to
view to
a
the
general
In
the
cedented
world.
of extraordinary and
eyents,
one
might perhaps imagine that
could
On
teers,
a
mittee
tial
finance and business committee,
and, to
carry
declaration
of
out absolutely the forms of poten¬
independence,
customs, excise and post office.
London press
indemnity
a
volun¬
legal com¬
on
committee on
It is stated in the
a
that, at the close of last month, the
fund
contributed
families of volunteers*in
case
to
of death or
reached the amount of £300,000.
It is not at all easy to
,
for
,
follow to its possible results
this singular demonstration.
the
injury had
provide
Theoretically, it would
be
of political uprisings
cannot
be
unusual
so
othesr
a
But
as
to
or
unpre¬
social
surprise the
hand, the character of the
who would have
expectation of
to
give the signal for
scarcely such
as
a
to warrant
final resort to the expedient of armed
of
the
this
Asquith
absolutely certain.
Government
I Some of the recent
speeches by members of the Cabinet have at least
been
conciliatory in tone; though,
expected,
no
as
might have been
definite proposition has yet
come
by
of solving the dilemma.
way
On
general principles, and recognizing the peculiar
nature of the
Irish
political situation quite outside of the
problem, it would
that the normal solu¬
seem
tion of the matter would be dissolution of Parliament
Rule
committee
the
way
conflict of the sort is
and
a
Yet, in the face
all of the forms of prospec-^
to force are being publicly
seen,
era
collisions
committee, the organizers of this movement have
military council,
preparations with-
no
present
nothing in the
established
a
Even
carried out.
rebellion.
belonging to the Unionist Party.
have
tive rebellion and resort
ment
Charles
to be One
the matter do not
suppressing insurrection.
statesmen
Lord
has itself made
as we
Beresford, the Duke of
Abercorn, Lord Castlereagh, several other important
land owners, and all the Ulster members of Parlia¬
donderry,
seems
altogether seriously.
ring of absolute conviction, and the British
Government
a
the basis of
compromise short of the omitting of Ulster from
which cannot be taken
form of mob
.1 f;
have been
proposals
Government, the anti-Home Rule citizens of Ulster
actually proceeded to make preparations for
breath
.-V
Iji this singular
the
,
same
loyalty to the British Government, and insist
with Great Britain than the other districts of Ireland,
arrangement might be ethically, it is difficult to
poses,
But,
of British soldiers, the matter is further
Ulster has demanded that if Home Rule be
Province of
the
use
their
the rest of Ireland.
be the
extremely awkward problems involved
rea¬
ment's
an
would apparently
For this
ferred upon
the
/ it
complicated by the fact that the Ulster Protestants,
shape in oppressive legislation by the Roman Catho¬
son,
case
duty of the British troops to deal with it.
a
general election, based avowedly
question.
Even this would by
without its difficulties.
If the
on
the Home
no
means
be
opinion of the British
electorate,
as expressed in such a vote, were to be
strongly in favor of the Government's Irish Home
Rule
policy, it is reasonable to
by Ulster would be at
an
end.
suppose
that resistance
But if the vote
were
strongly against the Home Rule policy, what would
then be the attitude of the
important Irish National¬
ist faction in the House of
Commons, through whose
support the Liberal Government has very largely
retained its political predominance?
984
CHRONICLE
THE
-
EMPLOYEES.
THE PUBLIC DUTY OF RAILWAY
[Vol. xcvxi.
At present the
country is in the unworkable and irrktional position of attempting to regulate railway
...
the New Haven road
considering the advisability of striking
The.engineers and firemen
been
have
in
case
the road stands by its
safety regulations, pro¬
charges to the public without doing anything to in¬
their ability to perform service at such rates;
further, there is so-called arbitration to keep the ser¬
sure
vice open
by putting
pressure on
the roads to grant
most obnox¬ all labor demands, but without
(as yet) even any
to the men being that which gives proved fit¬
strong pioral pressure to hold the employees to their
precedence over mere seniority, and they have share of the public
duty. As far back as 1888, in
mulgated about
ious
ness
far
gone so
should
the
ago,
one
in advance discussing with Prof. Hadley "the duties of railroads
to indicate their consent
as
interposed by
Gov. Foss of Massa¬
distinct intimation that
a
attempted he will ask the Council to
strike is
a
month
a
strike be ordered.
a
chusetts has
if
on
join with him in calling
a
special session of the Massa¬
Legislature, for the sake of public safety, to
chusetts
absolutely prohibiting striking by railway
enact laws
State. A strike, he says,
stopping of the wheels of industry, loss
and their
employees," Mr. Simon Sterne made this
declaration: "It is equally true that the railway per¬
forms
public function which it
a
cal
may
not neglect or
as a necessary
discontinue, and that,
legal and logi¬
corollary, its officers, employees and working-
men
likewise
are
engaged in the performance of
a
employees within the
public function which they cannot be permitted to
"means the
discontinue at will." 4:
of
employment to hundreds of thousands of laborers,
interference with the regular supply of
and
It is not very
boldly flung out,
was
number of
on
long since
an
intimation
behalf of the engineers on a
lines, that they might put this city on a
basis of siege as respects
that
invalids
consequent high death rate .among
a
and infants ."
•
food and fuel,
starvation within a week—-
ters
It almost seems strange
that
yield,
even
as
organized work¬
that, there
in
own way
every
concerned in performing
two parties
are
dispute, cannot see
transportation duties toward the public, and that
neither
throw its share upon the other.
can
roads cannot say to
suit
the
settle with the public
men
odically
if you
will
as
suits
do not
stand
co¬
thereof cannot be
of the
It is quite time this fair and serious view
subject
taken
were
up.
■
for the consequences";
and
us,
we
you
wage
nor can
increases peri¬
will have to yield, for
will quit work and then
say
the
men
cannot
say
alone
you
responsible to the public for the
We
permitted to
say
theirs, and receivers'
few
days
trainmen
ago,
conse¬
money
is
as
good
men
in
the
have "no relation to the earnings
pay
they
were
not necessarily in¬
question .whether the roads
paying enterprises
were
not, save in respect to their
or
the wages demanded."
engaged in
a
THE ROCK ISLAND REPORT.
of the Chicago Rock Island &
Railway Co. will attract
more
than the usual
amount of attention because of the recent
of
securities
of
all
Railway
company,
mediate
holding
the
related
company)
and the
grain and cotton done by the
men
Doubtless
companies
severe
damage to the
drouth the
,
cur-
trying conditions under
operations have to
carried
be
on
everywhere in the United States in these times'and
from which the Rock Island lines suffer in
with the rest of the railroad
The
common
mileage of the country.
damage will presumably result in
crop
a
temporary diminution of the agricultural tonnage of
the
Much the
system.
more
serious matter, how¬
is the unfavorable conditions attending the
ever,
conduct
railroad
of
affairs.
On
that
reviewing the report of the previous
with
another
brief, conditions
railroad
year,
us
our
are
previous remarks.
such that
even
because:
Stated
the staunchest
properties find it exceedingly difficult to
make both ends meet:
Railroad employees are all
demanding—'and receiving—better
compen¬
sation; operating' cost is rising in other directions;
State
and
national
regulating boards
are
refusing
subject to public regulation; that employees' or¬
ganizations have "no more right to resent regulation
permission to raise the rates charged for the trans¬
by the State
portation services rendered; Government is taking
are
that if
a
or
nation than have the railroads"; and
strike follows insistence
on
the rule
as
to
"seniority," it will alienate public sympathy and com¬
pel the "State to take measures for the public protec¬
increasing amount of earnings in the shape of
taxes; and, finally, interest charges are running
because
of the
new
obligations that the roads
obliged to incur in order to provide the
tion.
Railroads being recognized as public utilities and
held
an
subject to regulation
come
as
inevitably under the
such, railway
managers
obligation and re¬
it be said that this does
same
sponsibility; then how
can
notextend to the
employedJn railway^service ?
men
means
up
are
for
additional facilities and to carry on extensions and
improvement
The
figures
work.
we use,
deal entirely with the results
for what is known as the "Rock Island
Lines", which
comprise the mileage of the entire system
as
v
in
showing like results, additional
year
emphasis is given to
in
it is
point
pertinent to repeat the observations made by
that the
public calling, and therefore
the
Island
Rock
company.
measure
Tent season and the hard and
railroad
of the
properties
this decline in the securities of the various
reflects in considerable
which
weakness
the Railroad Company (the inter¬
Companyj, the actual holding
the time
Against this view, Gov. Foss tells the
are
only
speculative enterprises, that the
of the roads and that
roads
as any;
of
the acknowledged spokesman of the
are
demands of the
ability to
men, are no concern
bluntly said (as reported in the day's news)
that railroads
terested
the
4
Pacific
this, yet it
The financial ability of the roads
say.
solvency,
V
pay
substantially what they have said and have been
and their
a
"we will
men,
"we will demand
say,
quences."
is
The
such wages
us, and if you leave your work because they
suit you our skirts are clear and you must
do not
the
as a means
permitted, because hostile to the public interest and
necessity.
The annual report
who have become wonted to having an unthink¬
having their
as
soldier; but that organized action for
ercion and for desertion
they did.
ing public sympathy with them and, consequently,
to
once en¬
is, unless the demand for a wage increase was
vent such a crisis the roads must
ers,
individual who
railway service is held to it thereafter, like the
enlisted
granted—the deduction being that in order to pre¬
•
4:/-i: :444y:4
It is not meant that every
operated
Oct. 11
THE
1913.]
Rock Island & Pacific Railway.
The
Railway Company by itself
(independent
of the capitalization of the Railroad Company, and
the Rock Island Company) is really quite lightly
The $75,000,000 of stock, nearly all of
the holding companies, averages
which is held by
while the $257,815,600 of
equipment trust notes,
averages $35,825 per mile, making the total capital¬
ization $46,247 per mile.
Yet, with such a relatively
light capitalization, the company is able to show only
a small surplus of income above the dividends of 5%
the stock.
For the previous fiscal year the bal¬
ance
above the dividend was only $106,636.
The
matter then, did not seem to be invested with par¬
ticular significance, since some special unfavorable
features had been encountered.
But for the year
now
under review the surplus above the dividend
requirements is only a little greater, being$314,830,
though gross earnings were over 6% million dollars
larger. The trouble is the same as with other big
systems, namely that expenses keep steadily aug¬
only
$10,421 per mile,
including
indebtedness,
on
menting, notwithstanding
down and
all efforts to hold them
development
notwithstanding the,steady
Gross earnings, as corm*
preceding, increased from
$64,712,853 to $71,364,935, but simultaneously,
expenses moved up from $46,759,494 to $52,504,102,
with the result that the addition to net earnings was
no
more than $907,473.
At the same time there
was a further increase of $153,122 in taxes, cutting
the increase in net down to $754,351.
In other
words, three-quarters of a million dollars was all
that was left in the way of increased net out of an
of
operating efficiency.
the
with
pared
year
Requirements
dividends
1912
rentals, were, of
heavier; and
yield in 1912 was far in excess
was
not only
completely recovered but a new
is, however, that by reason
in expenses gross
receipts are losing their
of the rise
productivity
consequently, though
the gross for 1913 was nearly $3,000,000 larger than
for 1911, the net was over half a million less.
And
that is a state of things that has been going on for a
in the way
effected in this and
have
of additional net and,
other ways, operating cost, as
keeps
seen,
mounting
higher and still
simultaneously interest and dividend
requirements, likewise, continue increasing.
During
the year under review the net addition to the funded
debt was $6,626,000 and this fell considerably short
of the increase in the property investment account
higher, while
for the
same
twelve months.
This latter aggregated
$9,537,861 and represents expenditures for additions
and betterments and the acquisition of further
,
equipment.
,
Analysis of the report of the
the
understand
Rock Island Com¬
indirectly controls the property. The
position and prospects of the
pany,
which
Rock Island Company
and
Chicago Rock Island &
is necessary in order to
Pacific Railway
income
its
received by it
is merely a holding company
consists entirely
on
of the dividends ?■
stock of the
its holdings of the
Pacific. The Rock Island
the whole capital stock of the Chicago
Pacific Railroad Company, an inter¬
Chicago Rock Island &
Company
owns
Rock Island &
high record established.
The fact
only
5J/2% 'cm the stock. In
1907 5J^% was paid in dividends and a surplus
remained of $4,633,789.
In 1913,. on the others
hand, with dividends of only 5%, the surplus remain¬
ing, as already stated, is no more than $314,830. It is important to understand, too, that operating
efficiency is being steadily promoted and that every¬
thing is apparently being done to offset the rising
tendency of expenses.
The average rate realized
on
the freight traffic of the system continues to
decline, though having been for the latest year pre¬
cisely the same as for the year preceding, that is 8.9
mills, a figure which compares with 9.4 mills in 1907.
But the number of tons of freight carried by the
trains is being constantly added to, enabling the
trains to earn a greater amount per mile run.
For
1913 they earned $2 65 per mile run, in 1912 $2 48
and in 1911 $2 47 per mile run.
While the train-load
has not attained high figures, and a high average is
really out of the question because of the character
of the traffic and the scattered state of the mileage,
the average is, nevertheless, being steadily enlarged.
During the late year the train-load was further in¬
creased by nearly 20 tons, bringing it up to 297 tons.
If we go back to 1903, ten years ago, we find that the
average then was no more than 189 tons.
,
But, notwithstanding the savings and economies
of that .of the
previous year and that fact is reflected in an expan¬
sion in the agricultural tonnage and also in many
other classes of freight.
Accordingly, the loss in
gross earnings which had occurred in the fiscal year
crop
the stock, for 1913 it was
$4,058,354, or less than
■
for interest and
in 1907 the surplus available for
less than $8,750,517, or nearly
no
was
twelve per cent on
notwithstanding some increase
in miscellaneous income the amount available for the
stock, on this gain of 6% million dollars in gross, was
only $207,959 better than in the preceding year.
As far as the volume of business is concerned, the
situation was satisfactory enough, as is evident from
the substantial increase in the gross revenues and
as is further evident from the traffic statistics, which
record 11.24% increase in the number of tons of
revenue freight handled and 13.15% in the number
of tons of revenue freight moved one mile.
The
course,
1913 they were
is, that whereas
We
$6,652,081 to gross.
addition of
charges, &c., were
In 1907 interest
while for
of/additional facilities.
only $8,279,300,
$11,066,032. The result
equipment and
tion of new
by the Chicago
capitalized.
985
CHRONICLE
mediate
of
the
concern,
which in turn owns
Rock Island &
Railway Company paying only
come
$71,370,900
capital stock of the Chicago
Pacific Railway Company. With the
$74,870,500
from that
to meet interest
source was
charges
on
5% dividends, the in¬
little
more
than sufficient
the $71,353,500 of Railroad
5s, leaving
$90,888,202 of
only $60,138,673, as against $71,364,935 now,
Rock Island Company common stock or even the
but the net then was $19,325,850, as against only
$18,860,833 in 1913.
Rising taxes have served still $49,947,450 of preferred stock. The income account
number of successive years.
Back in 1907 the gross
further to cut down the net.
large additions
process
Company 4s and the $7,500,000
of
new
practically nothing available for the
was
In the interval very
have been made
debt in the
and the acquisi¬
to
of the extension of the system
for the twelve months shows
of only
charges.
that there was a
$297,445, after providing for
surplus
these interest
986
THE
CHRONICLE
[Vol.
the roads in those
RAILROAD
GROSS
^ "-V:
Our
AND
makes
States
a
EARNINGS
for
FOR
railroads
gross
for
and net earnings of
the .month
of
decidedly unfavorable showing.
greatly
emphasized
degree,
the
Year
1896...
1897j..
1898...
1899...
penses.
stance
feature
•
1900...
1901...
ex¬
1902...
1903...
Added significance is given to the circum¬
by the fact that gains in gross earnings are
1904..".
1905...
1906_+.
J907—
1908...
dwindling and, except in special cases^ are of
moderate proportions,
two combined,
.1909-f.
namely the indifferent comparisons as to the gross
earnings and the steady augmentation in expenses,
1913...
now
only
make the results
as
i9io:;.
1911..,.
1912...
capitalization of the railroads, as represented by
outstanding issues of stocks and bonds, naturally
three
necessarily increases from year to year, thereby
adding to the annual requirement for interest and
for Au¬
gross revenues
1913 were only $4,342,006 better than in the
corresponding month last year, while simultaneously
was
increase in
an
of
expenses
August (422 roads)—
1913.
Miles of road.
'
Inc. (+)
1912.
'
or
$259,835,029
expenses
216,709
§255,493,023
+$4,342,006
163,243,829
+13,448,176
......
$83,143,024
$92,249,194
—$9,106,170
System
very
ment in gross
at least
as
a
the
and
east
far
the net is
as
The
substantial improve¬
concerned, does not
back
other
words, in August 1912
much
beyond
last
year's
we
had
results.
for
ex¬
west
summary furnished
Commission, there
but
attended
penses,
by
by the Inter-State Commerce
gain of-$18,279,972 in gross,
increase of $18,939,835 in ex¬
an
thus working a loss of $659,863 in net.
In
year before (1909) there was material
August of the
improvement in both
from
i
the
gross
circumstance
and net, but this followed
that
in
the
previousJ
year
(1908), succeeding the panic of 1907, there had been
losses., According to the tabulations
tremendous
of the Inter-State Commerce
for
Commission, the gain
August 1909 reached $29,682,863 in gross and
$15,065,001 in net.
In August 1908 the decrease
in gross
by -the figures of the Inter-State Commerce
Commission reached
there
the
was
table
also
we
a
no
less than
decrease of $9,222,389 in net.
now
present,
comparisons back to 1896.
we use
ceding
by
In
furnish the August
For 1910, 1909 and
1908
we
the Inter-State Commerce
years
our own
road
$34,366,578 and
we
totals, but for pre¬
give the results just as registered
tables each year—a portion of the rail-"
mileage of the country
sented in the
totals, owing t
ing always unrepre¬
the refusal of
some
of
a
few instances
by increasing
however,
ex¬
roads
of
and the
be cited
on
typical instances
as
tendency
New
of
expenses.
The
the roads directly operated
Pittsburgh, has added $836,580
gross earnings, but the net
nevertheless registers a decline of
$578,025.
York Central, with
$583,837 increase in
has $225,882 decrease in
the
Central
gain in
gross,
There
are
much
&"
the
This latter
net.
Including
proper.
with
no
the
is
various
System, there is $922,644
less than $2,095,344 loss in net.
other" companies distinguished in
many
same
In the South the Louisville
way.
Nashville, with $199,294 gain in
119 loss in
has $239,-
gross,
net, and the Southern Ry., with" $24,029
increase in gross, has$239,553 decrease in net.
Atlantic Coast Line loses
$106,079 in
950 in net.
to
was a
In not
absent,
form the New York Central
$25,860,384
According
only
year's total of
or
'
are
auxiliary and controlled roads, the whole going to
In
or 10.30%, and $11^425,466 gain in
net,
13.03%; but in August 1911 there was a falling
off in both gross and net
earnings, though not very
large in either case. The decrease then was
$1,967,695 in gross and
$595,069 in net.
In August 1910
the results were
satisfactory enough, as far as the
gross was concerned, but the net recorded a
decrease,
owing to the great rise in expenses.
—9,106,170
concurrently with larger
thus emphasizing the part
New
gross,
■j? gain in,gross,
the
may
rising
9.87
month
and net earnings alike, but this
feature,
tend
—659,863
—595,069
+ 11,425,466
come
not
Pennsylvania RR.,
1.29
revenue
It is undeniable that
comparison is with
last year which had shown
+ 779,119
—9,222,389
+ 15,065,001
earn¬
to its last
earnings:
systems there
of the roads
are
8.24
.+2,783
—1,604,439
+4,636,451
—247,221
+4,530,959
+2,183,758
+ 6,338,710
—1,847,737
+ 5,534,845
+2,254,781
+2,721,032
+ 5,355,143
York
Central
1.50
176,692,005
..
>
<—).
S;
19,023,398
19,592,169
28,189,822
25,200,009
31,032,360
34,210,061
37,776,146
35,747,474
40,913,469
40,480,712
42,719,768
44,849,985
84,251,096
75,319,538
90,176,937
86,820,040
87,718,505
92,249,194
17,418,959
24,228,620
27,942,601
29,730,968
33,216,118
40,548,771
35,928,409
41,282,319
43,168,250
43,201,744
48,074,911
45,629,104
75,028,707
90,384,539
89,517,074
86,224,971
99,143,971
83,143,024
The Pennsylvania RR.
reflecting
%
219,492
Gross earnings
Dec.
which record contraction in both
gross and net
Dec. (—).
Amount.
Inc. (+) or
ings.
,
..
There
penses.
$13,448,176; thus producing a loss in net of $9,106,a shrinkage of almost 10%—in
precise figures,
9.87%.
;
'
:.-;v
or
smaller increases in
gross,
or
170,
,
Preceding.
$
heavy losses.
played in the affairs
less than
no
Given.
can
these losses in net have
gust
Net
four that
or
sustained very
brief, aggregate
Year
lay claim to materially im¬
proved net results, while there are
many that have
dividends.
Operating
52,240,197 55,319,991 —3,079,794
66,842,723 58,687,815 +8,154,908
77,846,913 76,324,949 + 1,521,964
81,952,795 70,965,451 + 10,987,344
92,067,423 85,191,125 + 6,876,298
108,575,332 96,440,678 + 12,134,654
105,390,629 102,111,428 + 3,279,201
121,050,739 105,267,446 + 15,783,293
119,821,635 119,665,743
+ 155,892
125,099,694 114,112,603 + 10,987,091
137,589,560 122,898,468 + 14,691,092
144,913,337 128,178,064 + 16,735,273
206,755,864 241,122,442 —34,366,578
236,559,877 206,877,014 +29,682,863
254,005,972 235,726,000 + 18,279,972
243,816,594 245,784,289 —1,967,695
276,927,416 251,067,032 + 25,860,384
259,835,029 255,493,023 +4,342,006
Among the larger roads
and
Stated in
Earnings.
Year
Note.—In 1896 the number of roads
included for the month of August was
127; in
1897, 135;in 1898, 138; in 1899,
113;in 1900, 129;in 1901, 116; in 1902, 105; in
1903, 114; in 1904, 100; in 1905,
95; in 1906, 91; in 1907, 86; in 1908 the returns
were based on
231,220 miles; in 1909 on 235,987
miles; in 1910, on 238,493 miles; in
1911, on 230,536 miles; in 1912, on
239,230 miles; in 1913, on 219,492 miles.
to net
earnings quite unsatisfac¬
tory, particularly when it is borne in mind that the
there
Preceding.
Net
Inc. (+) or
Dec. (—).
August.
As in the
operating
Year
Given.
August
dominant
of the returns is the continued rise in
Gross Earnings.
Year.
of the exhibit for the month of
July, only in
qase
days to furnish monthly figures
publication.
5i:
compilation of the
United
NET
zcrn.
/
the current
of
an
season
unsatisfactory
are
seen
situation for
crop
in the
Northwestern and also
some
- >;;
\
Evidences of
The
and $241,-
gross
case
of the returns
some
Southwestern
The Milwaukee & St. Paul falls $240,665
behind in gross and
$973,926 in net.
The Northern.
systems.
Pacific
has
$21,790 decrease in
decrease in net.
The
gain, $40,841, in
gross,
of
$338,671 in net.
and the
ern,
but suffered
a
a
small
contraction
The latter has added
are
exceptions'
$571,984 to
gross
$233,856 to net, but the Chicago & North West¬
with $484,589 added gross, has only $61,221
added net.
generally
current
In the Southwest the returns
poor
in both
season's
crop
gross
are
pretty
and net, reflecting the
damage.
has $288,718 decrease in gross and
in net; the Southern
gross
and
Union
behind
no
The
Rock
Island
$391,021 decrease
Pacific, $193,097 decrease in
less than $802,282 decrease in net.
The
Pacific, while losing only $9,936 in gross, falls
fully $549,917 in net
The Atchison has
managed to add $101,143 to
a
and $190,330
The Chicago & North Western
Chicago Burlington & Quincy
to the rule.
and
gross
Great Northern has
decrease of
$73,753.
/
gross
but its net shows
•
:
.!.-Vy:
of course, stands foremost
New Haven,
The
in the net.
and still more serious losses
gross
in
England roads have important losses
The New
Group III. includes all of Ohio and Indiana; all of Michigan except
peninsula, and that portion of New York and Pennsylvania west of
.
decrease in
combined include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined include the northern peninsula of Michigan, all of
Minnesota, Wisconsin, Iowa and Illinois; all of South; Dakota and North Dakota
and Missouri north of St. Louis and Kansas City; also all of Montana, Wyoming
and Nebraska, together with Colorado north of a line parallel to the State line
decrease in
and $163,759 decrease in net. The anthracite
properties make poor comparisons by reason of
fact that last year the coal shipments were of
the
Buffalo and
.
gross
coal
the northern
Pittsburgh.
~
Groups IV. and V.
and registers
$310,184 decrease in gross and $708,313
net and the Boston & Maine has $57,140
987
CHRONICLE
THE
1913.]
OCT. 11
through Denver.
VIII. and IX. combined include
passing
all of Kansas, Oklahoma, Arkansas
Groups
and
Kansas City; Colorado south
of Louisiana; and that portion of
New
the northwest corner of the State
through Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona and the western part of New Mexico, +
/ ■ V/,,';.,..
-Y:\:
Indian Territory,
of
Missouri south of St. Louis and
the whole of Texas and the bulk
Mexico north of a line running from
Denver,
proportions after the suspension of mining
The Lehigh Valley reports $327,545 RAILROAD GROSS EARNINGS FOR SEPTEMBER.
reduction in gross and $151,758 in net; the Erie,
Our early statement of earnings for the month of
$101,302 reduction in gross and $403,876 in net, and September present^, a somewhat more encburaging
the Reading (on its railway operations) has $285,466
aspect than does the completed statement for, the
decrease in gross and $365,732 decrease in net. :;In
month of August, which we have reviewed in the
the following we show all changes for the separate
It relates, however, only to the
roads for amounts in excess of $100,000, whether in¬ preceding article.
creases or decreases, and in both gross and net.
figures of gross earnings and comprises only a limited
number of roads, so it is not at all certain that these
principal changes in gross earnings in august.
unusual
in the
spring.
Decreases.
Tnrrpn
Pennsylvania
—~V
& Huel River
Chicago Burl & Quincy.Baltimore & Ohio
Chicago & North Western
St Louis & San Fran
Missouri Kansas & Texas.
Louisville & Nashville
Duluth Missabe & Nor—
Duluth & Iron Range—:«
Colorado & Southern-.-Delaware Lack & West—
N Y Central
Rock
Island
Philadelphia & Reading-.
Central of New Jersey
Chic Milw & St Paul
Southern Pacific
Missouri Pacific
Atlantic Coast Line
238,447
199,294
173,298
151,839
145,349
143,485
.
Erie
138,597
Island--Atcb Top & Santa Fe
Minn St Paul & S S M
Hartf.
N Y New Haven &
a583,837
571,984
564,883
484,589
255,569
Michigan Central
Yazoo & Miss Valley-—.
$327,545
310,184
288,718
285,466
247,653
240,665
C193.097
117,767
106,079
101,302
Lehigh Valley
$836,580
131,605
118198990076523674523
the month of August.
roads, which are always
Including the Canadian
clOl.143
100.986
Representing 10 roads in
our compilation
$2,218,476
Representing 17 roads in
our compilation
$4,953,586
'
covering all the roads
early statement for
132,101
Long
guide to what the final returns,
in the country, will disclose
when. available several weeks hence.
Encourage¬
ment is, nevertheless, to be derived from the circum¬
stance that the present early statement for September
is much more favorable than was the corresponding
early returns are a
filed
Note.—All the figures in the above are on the basis of the returns
with the Inter-State Commerce Commission.
Where, however, these
do not show the total for any system, we have combined
sep¬
arate roads so as to make the results conform as nearly as possible to
represented in these early statements, and which for
September have done very much better than they,
did for August (all recording increases this time where
Canadian Pacific had a very
gain, as compared with the
corresponding month last year of $3,617,644, or
4.64%.
This is for 90,097 miles of road the present
These figures are furnished by the company.
year.
For August our early statement, comprising
These figures represent the lines directly operated east and west of
Pittsburgh, Eastern lines showing $699,309 increase and the Western lines
90,217 miles of road, showed the merely nominal
$137,271.
For all lines pwned, leased, operated and controlled, the result
increase of $71,670.
the month is a gain of $1,155,267.
'
*
Comparison, too, is with fairly
principal changes in net earnings in august.
good totals a year ago, our early statement for
Decreases.
$233,856 Centralof New Jersey.,.- $261,157
September 1912 having shown $4,988,471 gain, or
Chicago Burl & Quincy-241,950
181,527 Atlantic Coast LineBaltimore & Ohio
239,553
157,432 Southern
7.09%.
In September 1911 our early statement
Duluth Missabe & Nor...
the
those
returns
the companies themselves.
operations of the New York Central
itself. Including the various auxiliary and controlled roads, like the Michi¬
gan Central, the Lake Shore, the "Big Four", the "Nickel Plate", &c., the
whole going to form the New York Central System, the result is a gain of
$922,644."
"
■
.
»v " - '
given in the statements furnished by
a These figures cover merely the
c
y
for
Increases.
St Louis
151,145 Louisville& Nashville
& San Fran
N Y Central & Hud
Representing 4 roads in
our compilation
Chicago Milw &
St PauL.
Pacific
Southern
Haven & Hartf.
Cleve Cine Chic & St L—
N Y New
Pennsylvania
Mich So--Union Pacific.-—
,-L
Lake Shore &
Eri«
Rock
Island
—
Philadelphia & Reading-Michigan Central
—
Great Northern
a
<
These figures cover
River
Pere Marquette
$723,980 Northern Pacific:
Decreases. Pitts & Lake Erie
$973,926 Boston & Maine.--.
C802.282 Lehigh Valley
708,313 Elgin Joliet& Eastern
..
592,429
Wabash-1.
239,119
c225,882
201,998
190,330
,184,646
163,759
-
-
1/578,025 Cin Hamilton & Dayton559,642 Central of Georgia
C549.917 Grand Trunk Western-.403,876 Minn St Paul & SSM391,021
Representing 29 roads in
365,732
our
347,548
338,671
151,758
144,212
138.752
116,280
105,278
102,606
102,136
compilation.-.---$9,602 ;325
merely the operations of
the N. Y. Central itself.
like the Michigan
Plate", &c., the whole
Including the various auxiliary and controlled roads,
Central, the Lake Shore, the "Big Four", the "Nickel
of $2,095,344.
going to form the N.Y. Central System, the result is a loss
c These figures are furnished by the company.
y These figures represent the. lines directly operated east
Pittsburgh, the Eastern lines showing $140,950 decrease and the
lines $437,075 decrease.
For'all lines owned, leased, operated
trolled, the result is a loss of $767,062.
and west of
Western
and - con¬
Arranging the. roads in groups or geographical
divisions, all the groups with only a single exception
record decreases in net, but in the gross five of the
divisions show'moderate increases in the gross.
Our
summary
by
groups
is
as
follows:
SUMMARY BY GROUPS.
1
1913.
August—
S
roads), New England
13,031,933
Group 2 (79 roads), East & Middle ... 70,021,674
Group 3 (63 roads), Middle West
39,916,672
Groups 4 & 5 (77 roads), Southern
27,269,581
Groups 6 & 7 (70 roads), Northwestern 62,578,420
Groups 8 & 9 (75 roads), Southwestern 32,589,177
Group 10 (42 roads), Pacific Coast
.« 14,427,572
Group 1 (16
Total
Inc.{+)or Dec.{—).
1912.
%
—368,414
+1,425,358
+576,381
+365,170
60,847,754 +1,730,666
31,779,580
+809,597
14,624,324
—196,752
13,400,347
68,596,316
39,340,291
26,904,411
259,835,029 255,493,023
(422 roads)
-Net
1913.
1912.
iup
>up
25.619
No. 3
25,457
25,191
No. 1
No. 2
>up
7,773
25,087
36,531
4 & 5.
36,796
Nos. 6 & 7.
iups Nos. 8 & 9.
iup No. 10
...
65,802
42,623
>upa Nos.
>ups
15,652
64,798
41,663
15,400
2.08
1.47
1.36
2.84
2.55
1.35
1.50
(+) or
Decrease (—).
Increase
1913.
1912.
S
7,809
+4,342,006
2.75
Earnings-
Mileage
$
4,057,883
23,018,744
10,992,318
7,022,547
22,053,044
10,245,531
5,752,957
5 ,028,869
24 ,764,777
14 ,167,401
7 ,963,142
23 ,423,432
10 ,061,284
6 ,840,289
%
—970,986 19.31
-1,746,033
7.05
-3,175,083 22.41
—940,595 11.81
-1,370,388
5.60
+ 184,247
1.83
-1,087,332 15.90
:
-$
9.87
219,492 216,709 83,143,024 92,249,194 —9,106,170
NOTE.—Group I. includes all of the New England States.
Group II. includes all of New York and Pennsylvania except that portion west
Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland, and
'Total-,.----
extreme
northern portion of West Virginia.
heavy loss), there is a
registered $2,302,158 increase, or 3.63% and in
1910 $2,487,898 increase, or 3.81%.
In September
1909 the improvement was of larger proportions, the
increase reaching $6,613,195, or 11.91%.
But that,
of course, followed a loss in 1908, the falling off then
by our early statement having been $3,986,202, or
5.78%.- Prior to 1908 the September record of
earnings was one of continuous improvement, as will
appear from the statement we now annex, giving the
September comparisons for all the years back to 1896.,
Gross Earnings.
Mileage.
September.
Year
Roads
Year.
1898
_
Yr .Pre-
Given.
117
128
—
123
111
Miles.
In-
ceding, cr'se.
Miles.
Year
Preceding.
89,696
0.85
94,422
1.52
91,517
95,700
90,818
94,503
0.77
1.26
41,561,327
49,720,753
47,105,094
58,682,534
101
98,165
92,902
3.51
58,270,588
96
1.98
72
88,083"
1.82
1903-...
73
1904.—
66
68
101,165
89,680
90,183
83,592
80,859
92,839
99,240
1902
55
73,482
53
83,157
1.83
66,491,460
61,654,626
68,192,919
61,589,566
61,549,676
79,890,683
56,317,229
64,925,965
62,138,040
67,702,377
67,190,814
75,580,043
1.87
81,504,881
55
49
50
83,889
46
85,901
90,087
44
Jan.
1901
77,460
84,994
49
1
to
66
88,223
95,250
91,475
95,181
96,165
100,492
89,680
90,183
83,592
55
80,859
68
124
122
108
101
....
93
72
73
47
92,839
73,482
82,500
77,147
191,0
49
84,254
1911-...
49
83,889
85,901
90,097
1906_T__
2.41
79,023
2.32
90,527
2.55
72,66$
1.12
fcl.908
1.52
76,330
1.48
82,163
82,099
84,356
88,450
3.43
87,464
93,807
90,776
94,026
92,902
98,531
55
51
46
44
(+)
Decrease
(—).
42,056,682
43,333,198
44,379,196
53,004,336
57,173,545
59,962,628
56,278,213
63,748,368
59.124.478
58,045,752
73,290,417
—495,355
%
1.18
+ 6,387,555 14.74
+2,725,898 6.14
+ 5,678,198 i0."71
1.92
+ 1,097,043
+ 6,528,832 10.88
+ 5,376,413 9.55
+4,444,551 6.97
+ 2,465,088 4.16
+ 3,503,924 6.03
+ 6,600,266 9.01
+4,144,749 7.95
—3,986,202 5.78
+ 6,613,195 11.91
+ 2,487,898 3.81
+ 2,302,158 3.63
+4,988,471 7.09
0.86
Sep t. 30—
111
1.67
88,703
81,623
or
$
$
%
90,456
95,865
Increase
Year
Given.
1901....
19Q8
-Gross Earnings-
Section or Group—
previous month the
the
88,083
88,703
81,623
79,023
90,527
72,668
81,251
76,069
81,503
82,099
84,356
88,450
2.06
+ 3,617,644
4.64
4.46
326,903,450 312,929,980 + 13,973,470
3.78
356,545,809 343,560,268 + 12,985,541
11.37
356,283,597 319,888,352 + 36,395,245
8.91
1.23 435,131,215 399,525,997 + 35,605,218
11.09
3.51 470,582,605 423,590,726 + 46,991,879
10.51
1.99 525.841.522 475,815,865 + 50,025,657
8.33
1.82 489,256,535 451,747,198 + 37,509,337
12.33
1.67 561,854,388 500,075,914 + 61,778,474
—1,623,930 0.33
2.41 481,650,242 483,274,172
7.15
2.32 484,597,911 452.258.707 + 32,339,204
14.57
2.55 657,972,747 574,286,788 + 83,685,959
10.52
1.12 474,839,846 429,640,386 +45,199,460
15.41
1.53 486,667,961 575,319,572 —88,651,611
11.72
1.42 466,976,509 417,976,108 +49,000,401
13.96
3.37 555,870,669 487.758.708 + 68,111,961
1.74
+ 8,744,833
2.06 532,990,363 524,245,530
7.73
1.83 609,914,375 566,204,203 +47,168,856
8.00
1.87 668.840.523 619,410,858 +49,429,665
1.54
0.77
Mexican roads nor
Included In this table.
Note.—Neither the earnings of the
the anthracite coal roads are
52,172,480
68,912,167
55,524,845
65.214.479
64,888,656
70,591,572
77,887,237
the. mining operations
of
988
THE
CHRONICLE
Southern roads outside of Texas had the
advantage
of a larger cotton movement.
For Texas, however,
have the
equal that oMast year, as is
indicated by the fact that at Galveston the
receipts
at
only 550,839 bales, against 617,^82 bales and
Arthur 58,338 bales,
against 65,857.
In
of crop
we compare' the cotton receipts
we
38,133 bales, against
20,738 bales in 1912 and 21,938 bales in 1911.
OF
FROM
COTTON
JANUARY
1
AT
SOUTHERN
TO
PORTS
SEPTEMBER
30
IN
1913,
SEPTEMBER
1912
damage, both grain and cotton, in diminish¬
ing railroad
for the last three
years at all the Southern outports.
The shipments overland were
RECEIPTS
for amounts in
1913.
Galveston
bales.
Port Arthur, &c_____
New Orleans..
1912.
&50,839
58,338
65,090
Mobile
•
Pensacola, &c
Savannah
11993232
10,268
300,003
52,100
86,753
i__
....
Brunswick
Charleston
Georgetown
Wilmington
1913.
1912.
152,063
43,250
•
,45,365
54~, 383
46", 249
1911.
32,081
1,391
52,269
Total
1,276
....
128
389
Minn St Paul & S S M
Yazoo & Mis* Valley
Buffalo Roch & Pittsb—.
Grand Trunk
Chicago?Great Western..
Seaboard Air Line___
Cin New Orl & Tex Pac_".
756
236,178
323,793
30,233
129,830
190,507
1,268
six-year
grain
movement,
closely approached the
the
on
instance, for the four
1913
The wheat receipts,
for
ending September 27
were
only 40,940,000 bushels, as against 51,286,018 bushels in the corresponding four weeks of
last year.
On the other hand, the
these
weeks
four
corn
receipts for
were
22,046,000 -bushels, against
18,000,385; the oats receipts 26,408,000, against 24,668,646 bushels; the barley receipts no less than
13,441,000,
against
9,177,330
and
the
2,302,000, against 2,652,021 bushels.
pens
New Orl & N E.
Ala & Vicksburg
shown in the
following
CincNO&TP.
Louisv <fc.Nash.&
Mobile & Ohio..
Seaboard Air Line
Southern Ry
Yazoo & Miss Val
Total....
ending
Flour,
Sept. 27—
(bbls.)
Wheat,
usual forih
a
c
(bush.)
(bush.)
(bush.)
Chicago—
1913....
851,000
650,935
4,119,000
7,186,800
-
14,198,000
11,987,300
12,200,000
13,951,800
Milwaukee—
288,000
263,600
307,000
279,990
1,017,000
1,978,550
1,085,000
952,160
1,658,000
4,175,044
1,220,000
1,603,910
2,225,000
2,128,850
214,000
306,400
St. Louis—
1913
1912....
-J
1,498,000
1,307,800
1912:
■
.
32,000
28,600
.
115,000
188,802
48,000
1912
3,622
65,000
35,747
207,000
257,234
166,000
232,000
118,000
158,800
81,000'
134,000
286,000
102,847
1912....
>
1,350,000
1,884,224
41,000
i
15,545,000
14,361,670
295,000
71,655
1,000
'5,000
800
1912.
EARNINGS
OF
September.
215,000
202,644
.67,000
97,000
330,000
257,810
3,877,000
1,975,816
3,711,000
2,060,350
1,882,000
7,341,700
1,464,000
648,500
Totall..
*
1,527,000
1,459,847
1,651,000
1,425,000
22,046,000
18,000,385
Among the separate roads
large gain
Northern
a
previous
Chicago & Alton
759,225
The
783,664
1,256,842
4,406,693
764,601
763,143
'
1913, 1912,
^
•
.
^
GROUP.
1910.
'
1909.
'
S
1,537,102
2,257,611
950,0S5
2,654,054
4,739,757
1,033,480
1,390,561
-
;
1908.
S
$
1,403,600
2,131,739
833,799
2,475,819
4,663,838
972,927
1,318,744
'
1,282,582
1,977,293
725,633
2,371,747
4,106,966
904,253
1,192,888
.•
&
NORTH
PACIFIC
GROUP.
1910.
1909.
1908.
S
1912.
26,408,000
24,668,646
the
9A77I330
2,652,020
striking feature
is
more
significant
same
Canadian
ampunt
roads,
intimated, have also done,well, and
Great
so
as
as
in
it
the
already
quite generallv
S
f
$
MIDDLE
AND
1912.
$
West!
..
s
*1911.
S
WESTERN
2,183,603
1,108,556
1,392,911
627,982
982,204
1,365,216
634,865
1,338,728
4,870,641
4,759,282
4,409,559
847,253
1910-
1909.
S
832,575
Pacific.
GROUP.
$
'
S
.
1908.
$
1,314,818
576,803
819,520
1,236,580
538,704
626,939
1,171,481
485,235
4,107,955
3,949,004
3,534,830
5,222,386 &5,318,924
111,025
122,521
325,651
326,008
2,582,576 2,738,835
4,791,579
105,187
317,131
2,545,469
4,830,208
104,526
292,271
2,319,906
599,149
Mil[
'
V
Total
5,767,603
126,198
379,490
5,556,680
123,401
2,962,654
Wabash
2,745,570
345,094
17,236,035 16,512,312 15,436,327 15,338,439
14,303,174 13,365,394
'
V
-
6 No longer includes
receipts for hire of
equipment, rentals
Includes earnings of Indianapolis Southern
We
•
6,391,672
1,042,330
237,717
5,861,776
446,697
282,802
,
Atl.._J
Toledo Peo & W.
Tol St L & West.
c
MIDDLE
Trunk..]
Gr Trunk
DetGH &
13 441 000
2,302,001
1911.
3
>
gain for about the
.
Chic Ind & Lou..
1
($1,005,294) shown by the
Ry., which is the
year.
OF
•
Illinois Central.c
40,940,000
51,286,018
3,954,648
838,814
1,543,921
4,839,095
1912, 1911 and 1910 and Wichita Falls Lines
'
1913.
5,884,000 1,028,000
4,099,270 1,140,110
Canada
1912
651,988
25,935,941 24,146,232 21,335,982 19,974,159
19,769,884 16,436,597
EARNINGS
Grand
Total of All—
1913
1,644,000
4,610,171
878,481
1,611,729
5,036,012
791,358
112,636
2,308,999
Includes Mason City & Fort
Dodge and the Wisconsin Minnesota &
464,000
596,858
910,000
Omaha—
1913
806,652
245,676
120,067
137,961
125,364
2,732,275
764,429
4,267,792
11,887,000 11,322,000 10,049,085 9,315,214
8,323,178
1,358,708 1,260,590 1,207,118 1,147,610
;
980,127
V 323,867
301,237
311,280
299,155 :
310,502
Great Northern.
8,563,230 7,557,936 6,549,356 6,294,922
6,816,339
Minneap & St Ll
886,468
926,409
721,400 /
554,482
518,095
Iowa Central../
\
309,262
316,938
MinnStP&SSM 2,916,658 2,778,060
2,497,743 2,053,514 2,504,705
Buff Roch & Pitts
1912
2,961,332
,
1,288,599
2,300,546
1,005,231
2,694,294
4,752,983
1,006,447
1,419,655
NORTHWESTERN
1913.
.
September.
Kansas City—
1912....
286,110
-
126,558
Canadian Pacific
Chic Gt West*..
Dul So Sh & Atl.
965
2,041,000
793,966
74,300; 15^25,705
......
108,500
906,000
831,600
V
Minneapolis—
1913....
16,000
"
Dulvth—
14,600,000
285,935
151,873
$
Includes Texas Central in
1913,
,
73,000
48,688
336,000
471,500
•
Peoria—
1913....
286,666
.
15,559,892 15,839,540 14,463,755 14,562,650
13,800,466 12,561,362
from Nov. 1
'
1,396,500
leveland—
1913....'
'
3
329,074
•
:
1911.
1;335,524 1,295,943
2,330,700 2,427,000
1,033,000 .1,218,000
2,942,625 2,943,529
5,290,000 5,331,000
1,126,000 1,119,000
1,502,043 1,505,068
Total
321,000
375,100
384,000
7 etroit—
1913....
"... 1908.
s
V
377,790
"
.
•3
3
1912....
1909.
•
'
T ledo—
1913....
1912....
398,461
•
3
Denver <fc Rio Gr
a
328,000
284,800
412,440
.
1913.
(bush.)
1,800,000
1,359,000
1,975,000
2,203,200
331,000
658,000
1912....
September.
Texas & Pacific..
(bush.)
$
EARNINGS OF SOUTHWESTERN
Rye.
.
1910.
s
Includes Chesapeake & Ohio of Indiana
beginning July 1 1910.
Missouri Pacific.
St Louis So West
Barley,
1911.
S
'
Month not
Mo Kans & Tex .a
Oats,
7
yet reported; taken same as last year.
b Includes the Louisville
& Atlantic and the Frankfort
& Cincinnati in
1911, 1910 and 1909.
Internat & Gt No
:
Corn,
the
19,817,108 18.804,834 18,447,799 17,637,891
16,627,978 14,892,420
details
WESTERN ELOUR AND GRAIN
RECEIPTS.
Four weeks
follows
our
$403,872,
subjoin the following
earnings of leading
we
g293,346
293,346
288,664
O145.680
145,680
139,703
al34,438
134,438
116,973
3,075,450 3,932,431 2,950,357
918,093
837,968
849,055
5,218,600 4,932,818 4,750,658
1,031,869
974,455
910,330
1,828;936 1,744,656 1,837,566
5,768,466 5,548,088 5,424,254
978,451
848,514
.781,778
Vicks Shrev & P
Ches <fc Ohlo.c..
105,137,000
The
.
423,779
.Colorado & South
Western grain movement in
of
roads in
compilation
1912.
-'V
Ala N O & T P—
that for the five cereals
combined, the deliveries
of the
cur
groups.
1913.
<5
Thus it hap¬
bushelsr-agmnst" 105,782,440 bushels.
the
receipts
rye
for the four Weeks the
present year were
are
September.
Alabama Gt So.:
weeks
Representing 5
EARNINGS OF SOUTHERN GROUP.
September, but there was considerable
irregularity as between the different cereals and
between different points.
$185,000
96,300
41,631
41,000
39,941
Minneapolis & St Louis.-
analysis,
comparisons
arranged in
large movement of last
very
Decreases.
Internat & Gt Northern.Denver & Rio Grande
Mineral Range
Missouri Pacific..
whole,
for
year
Representing 19 roads in
our
compilation.....$3,911,940
57,414
To complete our
.Increases.
$40,900
39,581
34,396
__
Colorado & Southern
Toledo St Louis & West._
80,125
Mobile & Ohio
1,240,734 1,074,277 1,248,517 4,094,492
5,624,665 3,868,928
Western
....
Chesapeake & Ohio
roads
The
565,000
323,400
285,782
217,084
220,378
210,923
143,019
138,598
129,937
126,352
111,359
98,118
84,280
_____
102,648
248,232
64,524
54,194
17,986
Newport News, &c
•
$1,005,294 Western Pacific.
Canadian Northern
Louisville & Nashville
Wabash.
Southern Railway
IllinoHCentral.
543,071 1,728,659 2,089,443 1,422,787
31,423
351,953
395,101
301,402
52,832
554,158
851,866
693,339
27,214
118,179
174,784
86,101
13,823
52,186
182,988
102,235
367,850
625,716
972,571
716,064
40,275
106,984
205,339
120,311
65,438
141,143
161,980
104,328
3,408
insert
now
Tnrrenctw
110
Norfolk
•
1911.
617,582
65,857
44,890
21,541
we
PRINCIPAL CHANGES IN
GROSS EARNINGS IN
SEPTEMBER.
AND
Since January 1.
Ports.
table
of $30,000.
excess
Great Northern
Canadian Pacific
September.
In the
revenues.
bring together all changes for the
separate roads
1911.
AND
though those in Texas,
Pacific, are obliged to report losses. The South
Western roads,
too, like the Missouri Pacific and the
Missouri Kansas &
Texas, give evidence of the effects
Port
tlje following table
Southern roads,
xcyii.
like the International &
Great Northern and Texas
the movement did not
were
[Vol.
now
add
our
and other items,
beginning with July 1910.
-~i
detailed
statement for the
month,
comprising all the roads that have thus far furnished
comparative figures for the
month
of
September.
of Road.
Inc.
(+) or
(—).
Dec.
1912.
1913.
Those
Mileage.
Gross Earnings.
Name
989
CHRONICLE
THE
1913.]
Oct. ll
1913.
1912.
and
humble
were
plain times for banking.
received the munificent sum of $1,500,
423 ,779
203 ,018
Southern
Alabama Great
Ann Arbor
1.108 ,556
1,994 ,900
11,887 ,000
3,075 ,450
Chesapeake & Ohio
1.392 .911
Chicago & Alton—
1,358 ,708
Chicago Great Western
627 ,982
Chicago Ind & Louisville
918 ,093
Gin New Orl & Tex Pac_.
1,335 .524
Colorado & Southern
2,330 .700
Denver & Rio Grande^.620 .000
Western Pacific
131 ,616
Denver & Salt Lake
105 .635
Detroit & Mackinac
323 ,867
Duluth So Sh & Atlantic206 ,783
Georgia South & FloridaGrand Trunk of Canada'
4,870,641
Grand Trunk Western
Buffalo Roch & Pittsb
Canadian Northern,
Canadian Pacific.
Great
Northern
Illinois Central
—
Northern-
Louisville & Nashville. __
Midland Valley
Mineral Range—;
...
Minneap & St Louis
V
Iowa Central
J
Minn St P & S S M
Missouri Kan & Texas.aMissouri Pacific
Mobile & Ohio
N evada-Cal-Oregon
Rio Grande Southern
St Louis Southwestern-__
Seaboard Air Line
Southern
8,563,230
5,767,603
1,033,000
5,218,600
154,685
23,700
886,468
336
1,813
2,555
+40,900
+9,757
937
214
418
623
1,502,043
126,198
379.490
2,962,654
978,451
Wabash
Valley
395
the crash of
4,533
other banks,
7,557,936 + 1,005,294
+210,923
5,556,680
—185,000
1,218,000
+285,782
4,932,818
+ 6,655
147,830
7,748
4,763
1,160
7,485
4,763
1,160
4,718
—41,631
122
127
—39,941
1,585
1,585
+ 138,598
3,976
3,817
7,283
1,122
3,772
3,399
7,236
1,114
—904
—41,000
+57,414
—2,778
+5.223
+7,000
+84.280
+220,378
—1,531
974,455
237
180
237
1,608
3.0S1
1,608
3,070
7,034
7,037
180
94
94
—3,025
1,885
1,885
+2,797
+34,396
+217,084
+ 129,937
123,401
345,094
2,754,570
848,514
247
247
451
2,514
1,372
451
2,514
1,372
81,504,881 77,887,237 +3,617,644 90,097 88,450
--
%
v
ded in tota 1)
687,604
679,080
+8,524
1.031
1,031
1/580,700
x2,996.511
1/519,100
+61,600
361
5,422,607
-2,426,096
395
6,135
Interoceanic of Mexico—
Rys of Mexico
926,409
373
ward
old
course
"in the pressing throng thrust for¬
woman
Chemical, and of
bunch of notes not issued by the
a
as
suspended specie payment.
handing them back when a director,
his elbow, interposed with, "Oh, give the old
the teller was just
who stood at
lady the gold; if they cannot redeem their promises to pay, we
will do it for them."
This shrewd remark much appeased
dubbed "Old Bullion."
in the resolution not to
into suspension, as is shown by the
.crowd, and the Chemical was
the
Courage was not the only factor
follow the other banks
of October, made
analysis of condition of 54 banks at the end
financial writer of the time, who found the average spe¬
cie holding to be one to seven of liability; twenty were above
this and 34 below it, while the Chemical had liability of
by
a
$1,100,000 and $327,000 specie.
Thus, there was strength
pluck, and at the opening of October only 12 out
of 50 banks had more specie than the Chemical, although
well
as
.
inclu
Mexican Railway —
Includes Texas
65,331
Chemical is known
During
1857 it went so far as to pay gold on notes of
for the paying teller relates how, on Oet. 14 of
bank which never
one
395
4,923
373
private hall."
a
Passing by these incidents, the
as
Total (44 roads) _
increase (4.64%)
a
converted into
4,548
1/28,280
52,569
1,119,000
1,744,656
5,548,088
f/7,299
1,505,068
f/5,768
Ala & Georgia—__
Pacific—
Toledo Peoria & Western
Toledo St L & Western-_
Mexican Roads (not
of $560 per annum, the
covenant agreeing, for one dollar, to allow the bank officers
"peaceable and quiet use of an alley intervening between
the two houses, which, for greater convenience, has been
+12,066
:;
Haight, its next-door
covenant with one Nicholas
+111,359
1/25,502
57,792
1,126.000
1,828,936
5,768,466
Texas &
Net
a
besides the upper room
In 1824, also, the bank en¬
neighbor, who himself paid a rental
418
627
tered into
living quarters."
937
214
+5,520
+22,630
2,778.060
2,943,529
5,331,000
Tenn
Nat
616
336
—96,300
4,759,282
2,916,658
2,942,625
5,290,000
1,031,869
Railway
Yazoo & Miss
616
1,871
2,560
of the bank for
that year, one
Atlantic
Internat & Gt
—6,883
+80,125
+39,581
Milw__
Det Gr Hav &
Canada
w.---
309
309
+11,339
291
291
+ 13,815
572
576
+ 126,352
+323,400 4.316 4.297
+565,000 11,641 11,290
+ 143,019 2.342 2,305
+27,695 1,026 1,026
+98,118 1,496 1,496
412,440
189.203
982.204
1.671,500
11,322,000
2,932,431
1,365.216
1,260,590
634,865
837,968
1,295,943
2,427,000
579,100
121,859
100,115
301,237
194,717
In
1829, while the Chemical stock was well above par, only two
of its officers received a salary above $1,000; "the Cashier
6,062
23 had
is aided by
Central in both years.
Now includes
deposits, and early in November only 5
more
had
specie and only 15 had more deposits.
'
Much of old New York is suggested by this volume, and
more
pictures which, to the man of to-day, seem
almost
and
As for the bank, it began in far-seeing faith
immovable integrity, and it has so remained.
It has
had
y
Mexican International in both years.
These figures are for three weeks only in both years.
a
imaginative.
line of
distinguished New Yorkers as its officers.
has been famous for its
HISTORY OF
1
CHEMICAL BANK.
market
York but it
is one of the most celebrated for its exceptional strength and
for the ability and probity which have distinguished its
management from the beginning.
It has now written, and
privately printed, in a handsome octavo of 168 pages, its
own history
through its ninety years, 1823-1913.
In the "Gazette" and such other journals as existed in
1824 there appeared an announcement, on July 30 1824, that
"the New York Chemical Manufacturing Company will
The Chemical is not
the oldest bank in New
.
their office of discount and deposit at No. 216 Broad¬
opposite St. Paul's Church, on Monday, the 2nd of
August".
There are misunderstandings of the nature of
banks, out of which grows an unreasoning hostility to them
now; the same existed then.
The first bank in New York
took seven years to get its charter.
Then came a piece of
and
It has had prosperity by deserving
price of its stock.
'
earning that.
.
THE INCOME
new
spread
Tariff Law, and accompany
concern
which will apply in
the source,
Treasury regulations and court decisions
exists
as
to the method
carrying out the provision entailing taxation at
but it will remain for
to decide the matter.
alarm
with banking privi¬
leges tucked into a bill which would not have gone through
but for the uppermost thought of "pure and wholesome
water".
A prominent State Senator from this city, who
afterwards became Mayor, voiced the public feeling by an
opinion in the Legislature that unless some stop were put
to the progress of banking, he believed desolation would be
which Aaron Burr utilised a yellow-fever
charter for a water company,
Income Tax Section of
it with a statement de¬
fining its provisions issued on Sept. 29 by Representative
Cordell Hull of Tennessee, who drafted the section.
Wide¬
the
way,,
and got a
TAX.
We furnish below the full text of the
open
strategy by
It
.exceptionally huge surplus and the
\
;
*•
SECTION II.
A.
Subdivision 1.
That there shall be levied,
assessed, collected and paid
accruing from all sources
United States, whether
residing at home or abroad, and to every person residing in the United
States, though not a citizen thereof, a tax of 1% per annum upon such in¬
come, except as hereinafter provided; and a like tax shall be assessed,
levied, collected and paid annually upon the entire net income from ah
property owned and of every business, trade, or profession carried on in the
annually upon the entire net income arising or
in the preceding
calendar year t° every citizen of the
United States by persons
residing elsewhere.
.
spread
over
the country.
So the founders
of this bank had to resort to strategy.
On Feb. 24 1823 they
obtained incorporation of "The New
without banking
York Chemical Manufacturing Company,
privileges," the charter stipulating that the
company'shall
banking business except such as may be
necessary to the main purposes of manufacturing chemicals.
This was amended in April following, and a general banking
business was authorized, but with the proviso that at least
one-fifth of the half-million capital must be devoted to chemi¬
not engage
in
any
existence at
chemical factory, in
the Hudson, until it
the expiration of its first charter in
Of the 12 banks in the
city when the Chemical charter was
cals.
The
company
did
operate
a
Greenwich Village, and further along
went out of
1844.
■;
obtained, there
were one
Street and Chatham
:-'
each in Franklin Square,
Greenwich
Street, the other nine being on
Wall
bank on Broadway, for
Broadway came to an end with the lawn of the hospital at
Worth Street, six blocks above the City Hall, although some
Street; great doubt was felt about a
very
daring real estate speculators prophesied that
would go up to
Tenth Street
some
time.
Broadway
Graded Rate of Tax.
Subdivision
2.
In
addition
section (herein referred to as the
to
the
income
;
.
tax
provided under -this
levied,
individual an additional
normal income tax), there shall be
assessed and collected upon the net income of every
tax) of 1% per annum upon
the amount by which the total net income exceeds $20,000 and does not
exceed $50,000, and 2% per annum upon the amount by which the total
net income exceeds $50,000 and does not exceed $75,000, 3% per annum
upon the amount by which the total net income exceeds $75,000 and does
not exceed $100,000, 4% per annum upon Ihe amount by which the total
net income exceeds $100,000 and does not exceed $250,000, 5% per annum
upon the amount by which the total net income exceeds $250,000 and does
not exceed $500,000, and 6% per annum upon the amount by which the
total net income exceeds $500,000.
All the provisions of this section re¬
lating to individuals who are to be chargeable with the normal income tax,
so far as they are applicable and are not inconsistent with this subdivision
of paragraph A, shall apply to the levy, assessment and collection of the
additional tax imposed under this section.
Every person subject to this
additional tax shall, for the purpose of its assessment and collection,make
a personal return of his total net income from all sources, corporate or other¬
wise, for the preceding calendar year, under rules and regulations to be
prescribed by the Commissioner of Internal Revenue and approved by the
Secretary of the Treasury.
For the purpose of this additional tax, the
taxable income of any individual shall embrace the share to which he would
be entitled of the gains and profits, if divided or distributed, whether divided
or distributed or not, of all corporations, joint-stock companies, or associa¬
tions, however created or organized, formed or fraudulently availed of for
the purpose of preventing the imposition pf such tax through the medium or
permitting such gains and profits to accumulate instead of being divided
or distributed; and the fact that any such corporation, joint-stock company,
or association is a mere holding company, or that the gains and profits are
income tax
(herein referred to as the additional
needs of the business shall
such tax; but the
permitted to accumulate and
permitted to accumulate beyond the reasonable
bo
prima facie evidence of a fraudulent purpose to escape
fa t that the gains and
profits are in any case
990
THE
CHRONICLE
[Vol.
xgyii.
'
become surplus shall not be construed
as
evidence of
been thus withheld, and
containing also the
purpose to escape
a
the said tax in such
that in his
case unless the
Secretary of the Treasury shall certify
opinion such accumulation in unreasonable for the purposes of
son, or
are
the business.
or
v
any
When requested by the Commissioner of Internal Revenue
district collector of internal revenue, such corporation, joint-stock
company or association shall forward to him
profits and the
names
name
and address
individuals to be withheld at the
name
source of
and address of such per¬
the address, as the case may be,
or
requiring
the normal tax of
the income shall not be construed
to
require any of such tax to be withheld
prior to the first day of November
1913; Provided further, That in either case
above mentioned no return of
correct statement of such
a
of the individuals who would
stating that the
unknown; Provided, That the provision
income not exceeding $3,000 shall
be required: Provided further, That
any
carrying on business in partnership shall be liable for income tax
be entitled to the same
If distributed.
persons
Net Income Defined,
only in their Individual capacity, and the share of
the profits of a partner¬
any taxable partner would be entitled if the same were
divided,
B.
That, subject only to such exemptions and deductions as are here¬
inafter allowed, the net income of a taxable
person shall include gains, pro¬
ship to which
whether divided
fits and income derived from
salaries, wages or compensation for personal
service of whatever kind and in whatever form
paid,
or
otherwise, shall be returned for taxation and the tax
under the provisions of this
section, and any such firm, when re¬
paid,
from professions,
quested by the Commissioner of Internal
Revenue, or any district collec¬
commerce, or sales, or dealings in property,
personal, growing out of the ownership or use of or interest
In real or personal property, also from
interest, rent, dividends, securities,
or the transaction of
any lawful business carried on for gain or profit, or
gains or profits and income derived from any source whatever, including
tor, shall forward to him a correct statement of
such profits and the names
of the individuals who
would be entitled to the
same, if distributed: Pro¬
or
vocations, businesses, trade,
whether real
or
vided
upon
the
descent: Provided, That
or
the proceed?
the death of the person Insured
insured,
on
or
of life insurance policies paid
or
annuity contracts upon the
return thereof to the insured at the
maturity of the term mentioned in the
contract, or upon surrender of contract, shall not be included as income.
shall be allowed
deductions: First, the necessary
as
expenses
In carrying on any
penses;
business, not including personal, living
second, all interest paid within the year by a taxable
son
debtedness; third, all national, State, county, school and municipal taxes
paid within the year, not including those assessed against local
benefits;
fourth, losses actually sustained during the year incurred in trade or arising
made: Provided, That
under-stated, he shall give due notice
to show
cause
why the amount of the
to the per¬
return should
upon
Date of Payment.
E.
That all
assessments shall be made by the Commissioner of
Interna
Revenue and all persons shall be notified of the amount
for which they are
respectively liable
on or before the first day of June of each
successive year,
and said assessments shall be
paid on or before the thirtieth day of June,
except incasesof refusal
deduction shall be allowed for any amount
paid
no
buildings, permanent improvements
increased, and
or
proof of the amount under-stated may increase
the same accordingly. If dissatisfied with
the decision of the collector, such
person may submit the case, with all the
papers, to the Commissioner of
Internal Revenue for his
decision, and may furnish sworn testimony of
witnesses to prove any relevant facts.
exhaustion, wear and tear of property arising out of its use or employment
In the business, not to exceed, in case of
mines, 5% of the gross value at the
mine of the output for the year for which the
computation is made, but no
deduction shall be made for any amount of
expense of restoring property or
making good the exhaustion thereof for which an allowance is or has been
out for new
or
making the return
not be
from fires, storms, or shipwreck, and not
compensated for by insurance or
otherwise; fifth, debts due to the taxpayer actually ascertained to be worth¬
less and charged off within the year;
sixth, a reasonable allowance for the
,
or deputy collector shall
require
affirmation of the party rendering it.
deputy collector have reason to believe that the amount
of any income returned is
family Ex¬
person on in¬
The collector
person.
list to be verified by the oath
every
If the collector
actually paid
or
of any such
case
That in computing net income for the
purpose of the normal tax there
t
only, on their
another, shall not be required to make return
on the capital
stock or from the net
earnings of corporations, joint-stock
companies or associations, and insur¬
ance companies taxable
upon their net income as hereinafter provided.
Any person for whom return has been made and the tax
paid, or to be paid
as aforesaid, shall not be
required to make return unless such person has
other net income, but
only one deduction of $3,000 shall be made in the
payments made by or credited to
life insurance, endowment,
persons liable for the normal income tax
of the Income derived from
dividends
the Income from but not the value of
property acquired by gift, bequest,
devise,
further, That
account or in behalf of
own
or
betterments, made to
estate; seventh, the amount received
or
or neglect to make such return and
in.cases of false
fraudulent returns, in which cases the Commissioners of
Internal Revenue
shall, upon the discovery thereof
increase the value of any property or
as dividends
upon the stock or from the net earnings of
any corporation,
Joint-stock Company, association or insurance
company which is taxable
return is due, make
this section
or
,
at any time within three years after said
return upon information obtained
a
as
provided for in
by existing law, and the
hereinafter provided; eighth, the amount of
income,
the tax upon which has been
paid or Withheld for payment at the source of
assessment made by the Commis¬
sioner of Internal Revenue thereon shall be
paid by such person or persons
immediately upon notification of the amount of such assessment; and to
the
sum or sums
upon its net income
as
any
incpme, under the provisions of this section, provided that whenever
a person is required to be
withheld and paid at
hereinafter required, if such annual income does not
exceed
the source
as
the
$3,000
sum
of
to amount or time of
return of such
is not fixed
or
accrual, the
or
certain*
or
is indefinite,
same shall not be
or
irregular
added the
as
person.
companies
acting in
Deductions andExemvtions—ITho to Make Returns.
deductedifrom the
ascertained
amount of the net
income of
provided herein, the sum of $3,000,
plus $1,000 additional if the personfmaking the return be a
married man with
a wife
living with him; or plus the sum of $1,000 additional if the
as
person
making the return be
married'woman with
a
alhusband living with her; but
in no event shall this additional
exemption of $1,000 be deducted by both
a husband and a wife:
Provided, That only one deduction of. $4,000 shall be
made from,the aggregate income of both
husband and wife when
living
'together.
,
D.
v
r,: ;
The said tax shall be computed
upon the remainder of said net income
of each person subject
thereto, accruing during each preceding calendar
year ending December 31: Provided,
however. That for the year ending De¬
cember 31
1913 said
tax
shall be computed
on
the net income
from
accruing
March 1 to December 31 1913, both dates
inclusive, after deducting
five-sixths only of the specific exemptions and
deductions herein provided
for.
On or before the first
day of March 1914 and the first day of March
ih each year
thereafter,
a true
andjaccurate return, under oath
tion, shall be made by each person of lawful age,
except
vided, subject to the tax imposed^by this section, and.
as
affirma¬
hereinafter pro¬
having
of $3,000 or
or
a net
income
for the taxable .year, to the
collector of internal revenue
for the district in which such
person resides or has his principal
place of
business, or, in the case of a person resicjing[in a foreign
country in the place
where his principal business
isjearried on within the,United States, in such
form as the Commissioner of Internal
Revenue, with the approval of the
Secretary of the Treasury, shall prescribe, setting forth
specifically the gross
amount of income from all
separate sources and from the total thereof
de¬
ducting the aggregate items
or expenses^and allowance
herein authorized;
guardians, trustees, executors, administrators,
agents, receivers, conserva¬
tors
and all persons,
corporations
capacity, shall make and render
for whom
a
associations acting in
any fiduciary
return of the net income of
the
person
agents, receivers and
conservators, or other persons acting in
fiduciary capacity, filed in the dis¬
trict where such person
resides, or in the district where the will or
other
instrument under which he acts is
recorded, under such regulations as the
Secretary of the Treasury may prescribe, shall be a
a
sufficient compliance
with the requirements of this
paragraph; and also all persons, firms, com¬
panies, copartnerships, corporations, joint-stock
companies or
associations,
and insurance companies,
except as hereinafcer provided, in whatever ca¬
pacity acting, having the control, receipt,
disposal, or
or
determinable annual
payment of fixed
or
periodical gains, profits and income of
another
person subject to tax, shall in behalf of such
person deduct and withhold
from the payment an amount
equivalent to the normal income tax
same and make
upon the
and render
return, a? aforesaid, but separate and
distinct,,
of the portion of the income of each
person from which the normal tax
has
a
or
same
became due, except
insolvent persons.
associations, and insurance companies, in whatever capacity
or mortgagors of real or personal
property, trustees
capacity, executors, administrators, agents, receivers,
any trust
and render
-j
of
other than divi¬
capital stock,
on
companies
his, her
or
or from the net earnings of corporations and jointassociations subject to like tax, who are required to make
return in behalf of
a
or
its district,
are
another, as provided herein, to the collector
hereby authorized and required to deduct and
withhold from such annual gains, profits and income such
sum as will be
sufficient to pay the normal tax imposed thereon
by this section, and shall
pay to the officer of the United States Government authorized to receive
the same; and they are each hereby made
personally liable for such tax.
In all cases where the income tax of a person is withheld and
deducted and
paid or to be paid at the source, as aforesaid, such person shall not receive
the benefit of the deduction and exemption allowed in
paragraph O of this
section except by an application for refund of the
tax, unless he shall,nob
less than 30 days
prior to the day
file with the person who
on
which the return of his income is due,
is required to withhold and
pay tax for him a
signed
notice in writing claiming the benefit of such
exemption and
thereupon
the amount of such exemption; Provided, That
person, for the purpose of obtaining any allowance or reduction by
tax shall be withheld upon
no
if any
virtue of
person,
a
claim for such exemption, either for himself
knowingly makes
the
false statement
any
sentation, he shall be liable to
a
or
penalty of $300;
false
nor
foregoing conditions be allowed the benefit of
for in sub-section B
prior to the day
on
or
or
for any
other
fraudulent repre¬
shall any person under
deduction
any
provided
Of this, section unless he shall, not
jess than 30 days
^hich the return of his income is due, either
file with the
person who is required to withhold and pay tax for him a true and correct
return of his annual gains, profits and income from all other
sources, and
also the deductions asked for, and the showing thus made shall then
become
a
part of the return to be made in his behalf by the
person
required to
withhold and pay the tax, or likewise make application for deductions
to
the collector of the district in which return is made or to be made for
him;
Provided further, That if such person is a minor
sent from the
United States,
or
or an insane person, or is abis unable owing to serious illness to make the
,
application above provided for | the return and application may
be made for him or her by the person required to withhold and
pay the tax,
return and
he making oath under the penalties of this Act that he has sufficient
knowl¬
edge of the affairs and property of his beneficiary to enable him to make
full and
or
they act, subject to this tax, coming into their
custody or control
and management, and be
subject to all the provisions of this section
which
apply to individuals: Provided, That a return made
by one of two or more
joint guardians, trustees, executors,
administrators,
or
another person, exceeding $3,000 for any taxable
year,
dends
stock
over
,
by the collector, there shall be
the amount of tax unpaid, and interest at the rate
conservators, employers and all officers and employees of the United States
having the control, receipt, custody, disposal or payment of
interest, rent,
salaries, wages, premiums, annuities, compensation, remuneration, emolu¬
ments or other fixed or determinable annual
gains, profits and income of
That in computing net income under this section
there shall be excluded
the obligations of a State or any political
subdivision
That there shall be
on
acting, including lessees
the interest upon
C.
5%
All persons, firms, co-partnerships,
companies, corporations, Joint-stock
The
each of said persons,
of
from the estates of insane, deceased
net income from
property owned and business carried on in the
United States by persons residing elsewhere shall
be computed upon the
basis prescribed in this
paragraph and that part of paragraph G of this
section relating to the
computation of the net income of corporations,
Joint-stock and insurance companies, organized, created or
existing under
the laws of foreign countries, in so far as
applicable.
Government.
sum
of 1% per month upon said tax from the time the
deducted in the personal
thereof, arid upon the obligations of the United States or its
possessions;
also the compensation of the
present President of the United States
during
the term for which he has been elected and of
the judges of the
Supreme
and inferior courts of the United States now
in office, and the
compensation
of all officers and
employees, of a State or any political subdivision thereof
except when such compensation is paidjby the United States
due and unpaid after the thirtieth
day of June in any year, and
for ten days after notice and demand thereof
the tax upon the Income of
cation
complete return for him
made
by him
are
or
a
her, and that the return and appli¬
full and complete; Provided further.
That the
amount of the normal tax hereinbefore imposed shall be
deducted and
withheld from fixed and determinable annual gains, profits and income
de¬
rived from interest upon bonds and mortgages, or deeds of trust or
other
similar obligations of corporations, joint-stock companies or
associations,
and insurance
companies, whether payable annually or at shorter or longer
periods, although such interest does not amount to $3,000, subject to the
provisions of this section requiring the tax to be withheld at the source and
deducted from annual income and paid to the
the
amount of such tax
^checks
or
Government; and likewise
shall be decducted and withheld from
coupons,
bills of exchange for
eign countries and
upon
or
in payment of interest upon bonds of for¬
or like obligations (not
payable
foreign mortgages
in the United States), and also from coupons, checks
for
or
bills
of
exchange
in
payment of any dividends upon the stock or interest upon the obli¬
gations of foreign corporations, associations and insurance companies en¬
gaged in business in foreign countries; and the tax in each case shall be with¬
or
held and' deducted for and in behalf of any person
subject to the tax herein¬
before imposed, although such interest, dividends
or
other compensation
does not exceed $3,000, by any banker or person who shall
sell
or
otherwise
•
991
THE
1913.1
Oct. ll
drawn or made in payment of
dividends (not payable in the United 8tates), and any
person who shall obtain payment (not in the United States) in behalf of
another of such dividends and interest by means of coupons, checks or bills
of exchange, and also any dealer in such coupons who shall purchase the
same for any such dividends or interest (not payable in the United States),
otherwise than from a banker or another dealer in such coupons; but in
each case the benefit of the exemption and the deduction allowable under
this section may be had by complying with the foregoing provisions of this
checks or bills of exchange
realize coupons,
any
such interest or
paragraph.
■;
All persons,
for profit
holders on account
on
corporations undertaking as a matter of business or
foreign payments of such Interest or dividends
firms or
Government to ascertain and verify the due
the
as
with¬
paid
of the income tax required to be withheld and
Commissioner of Internal Revenue, with the approval of the
holding and payment
Sec-
shall knowingly
undertake to collect such payments as aforesaid without having obtained
license therefor, or without complying with such regulations, shall be
deemed guilty of a misdemeanor and for each offense be fined in a sum not
exceeding $5,000, or imprisoned for a term not exceeding one year, or both,
"
retary of the Treasury,
shall prescribe; and any person who
a
\
shall be construed to release a taxable person
from liability for Income tax, nor shall any contract entered into after this
Act takes effect be valid in regard to any Federal income tax imposed upon
a person liable to such payment.
The tax herein imposed upon annual gains, profits and income not fall¬
ing under the foregoing and not returned and paid by virtue of the foregoing
shall be assessed by personal return under rules and regulations to be pre¬
scribed by the Commissioner of Internal Revenue and approved by the
in the
<
discretion of the court.
Nothing in this section
Secretary of the Treasury.
The
'
provisions of this section
the tax at the source of
before imposed upon
relating to the deduction and payment of
apply to the normal tax herein¬
income shall only
individuals.
Penalty for
;
any
person,
shall be liable to a penalty of not less
officer of any corpora¬
sign or verify any return who makes
any false or fraudulent return or statement with intent to defeat or evade
the assessment required by this section to be made shall be guilty of a mis¬
demeanor, and shall be fined not exceeding $2,000 or be imprisoned not ex¬
ceeding one year, or both, at the discretion of the court, with the costs of
specified in each year, such person
than $20 nor more
tion required
by law to make, render,
prosecution.
(a)
'
,
•
G.
Any person or any
than $1,000.
i
That
likewise shall
Tax.
v
tax hereinbefore imposed upon individuals
assessed and paid annually upon the entire net
the normal
income arising or
accruing from all sources
further, That in case of bonds or other indebtedness
with a guaranty that the interest payable thereon
issued by such
corporation, joint-stock company or
which inures to the benefit
civic league or organi¬
zation nor organized for profit, but operated exclusively for the promotion
Of social welfare; Provided further, That there shall not be taxed under this
section any income derived from any public utility or from the exercise
of any essential governmental function accruing to any State, Territory
or the District of Columbia, or any political subdivision of a State, Terri¬
tory or the District of Columbia, nor any income accruing to the government
of the Philippine Islands or Porto Rico, or of any political subdivision of
the Philippine Islands or Porto Rico; Provided, That whenever any State,
"Territory or the District of Columbia, or any political subdivision of a State
or Territory, has prior to the passage of this Act
entered in good faith into
a contract with any person or corporation, the object and purpose of which
is to acquire, construct, operate or maintain a public utility, no tax shall
be levied under the provisions of this Act upon the income derived from the
operation of such public utility, so far as the payment thereof will impose'
a loss or burden upon such State, Territory or the District of Columbia,
or a political subdivision of a -State or Territory; but this provision is not
intended to confer upon such person or corporation any financial gain or
exemption or to relieve such person or corporation from the payment of a
tax as provided for in this section upon the part or portion of, the said in¬
come to which such person or corporation shall be entitled
under such
Now Ascertained.
insurance company,
or
received within the year from
all sources,
in the
(first), all the ordinary and necessary expenses paid within the year
maintenance and operation of its business and properties, including rentals
or
other payments
use or
the
required to be made as a
possession of property;
year
condition to the continued
(second), all losses actually sustained within
by insurance or otherwise, including a
and not compensated
and tear of property, if
reasonable allowance for depletion of ores
and all other natural deposits not to exceed 5% of the gross value at the
mine of the output for the year for which the computation is made; and in
case of insurance companies the net addition, if any, required by law to be
made within the year to reserve funds and the sums other than dividends
reasonable allowance for depreciation by use, wear
any;
and in the case of mines a
paid within the year on policy and annuity
mutual fire insurance companies requiring their
contracts:
Provided, That
members to make premium
shall not return as income
any portion of the premium deposits returned to their policyholders, but shall
return as
taxable income all income received by them from all other
deposits to provide for losses and expenses
sources
plus such portions of the
premium deposits as are
retained by the
to reserve
and in case
if any, required by law to be
funds and the sums other than dividends
to make
taxable income all income received by them
plus such portions of the premium deposits as are
holders, but shall return as
from all other sources
retained by
and
the companies for purposes
expenses
'*
loss
Provided further, That mutual
other than the payment of
and re-insurance reserves:
companies shall include
marine insurance
in their return of gross income
collected and received by them less amounts paid for re¬
insurance, but shall be entitled to include in deductions from gross income
amounts re-paid to policyholders on account of premiums previously paid
by them, and interest paid upon such amounts between the ascertainment
thereof and the payment thereof, and life insurance companies shall not
include as income in any year such portions of any actual premium received
groSs premiums
individual policyholder as
from any
shall have been paid back or
credited
treated as an abatement of premium
of such individual policyholder, within such year;
(third), the amount
of interest accrued and paid within the year on its indebtedness to an
amount of such indebtedness not exceeding the proportion of one-half of
the sum of its interest-bearing indebtedness and its paid-up capital stock
outstanding at the close of the year, of, if no capital stock, the capital
employed in the business at the close of the year which the gross amount
to such
individual policyholder, or
%
of its income for the year
transacted and capital invested
of its income derived
without the United States; Provided, That in
indebtedness which have been issued with a
from business
within the United States bears to
from all sources within and
the
case
of bonds or other
guaranty that the
deduction
for
the gross amount
ipterest payable
the payment
thereon shall be free from taxation, no .
imposed shall be allowed:
of the tax herein
within the year for taxes imposed under the
authority of the United States or of any State or Territory thereof or the
District of Columbia!
In the- case of assessment insurance companies,
whether domestic or foreign, the actual deposit of sums with State or Terri¬
torial officers, pursuant to law, as additions to guaranty or reserve funds,
shall be treated as being payments required by law to reserve funds.
(fourth), all sums paid by it
Computation of Tax.
(c)
The tax herein imposed
.
shall be computed upon
its entire net income
Dec. 31st; Provided,
said tax shall be imposed
upon its entire net income accrued within that portion of said year fromMarch 1 to Dec. 31, both dates inclusive, to be ascertained by taking fivesixths of its entire net income for said calendar year:
Provided, further.
accrued
within
each preceding
however. That for the year
That
calendar year ending
ending Dec. 31 1913
corporation, joint-stock company or
any
association, or insurance
•
designate the last day of any month in
the year as the day of the closing of its fiscal year and shall be entitled to
have the tax payable by it computed upon the basis of the net income
ascertained as herein provided for the year ending on the day so designated
in the year preceding the date of assessment instead of upon the basis of
the net income for the calendar year preceding the date of assessment;
and it shall give notice of the day it has thus designated as the closing
of its fiscal year to the collector of the district in which its principal business
office is located at any time not less than thirty days prior to the date j
upon which its annual return shall be filed.
All corporations, joint-stock
company
Such net income shall be ascertained by deducting from the gross
amount of the income of such corporation, joint-stock company or associa¬
which the computation is made;
companies the net additions,
premium deposits to provide for losses and expenses shall not return as
Income any portion of the premium deposits returned to their policy¬
of the net income of
(b)
capital
and necessary
Provided further,%
stockholder or individual; nor to any
contract.
business transacted and
States, (first), all the ordinary
paid within the year on policy and annuity contracts:
That mutual fire insurance companies requiring their members
educational purposes, no part of the net income of
which inures to the benfit of any private stockholder or individual, nor to
business leagues, nor to chambers of commerce or boards of trade, not or¬
tion,
United
for the year for
of the output
charitable, scientific or
Net Income,
accrued within the year from
actually paid within the year out of earnings in the maintenance
and operation of its business and property within the United States, in¬
cluding rentals or other payments required to be made as a conditioii to the
continued use or possession of property;
(second), all losses actually
sustained within the year in business conducted by it within the United
States and not compensated by insurance or otherwise, including a reason¬
able allowance for depreciation by use, wear and tear of property, if any,
and in the case of mines a reasonable allowance for depletion of ores and all
other natural deposits, not to exceed 5% of the gross value at the mine -
transacted and capital invested within
Provided, however, That nothing in this
section shall apply to labor, agricultural or horticultural organizations, or to
mutual savings banks not having a capital stock represented by shares,
or to fraternal beneficiary societies, orders or associations operating under
the lodge system or for the. exclusive benefit of the members of a fraternity
itself operating under the lodge system, and providing for the payment
of life, sick, accident and other benefits to the,members of such societies,
orders or associations and dependents of such members, nor to domestic
building and loan associations, nor to cemetery companies, organized and
operated exclusively for the mutual benefit of their members, nor to any
corporation or association organized and operated exclusively for religious,
of the private
association, or insurance company,
expenses
during such year;
ganized for profit or po part
(fourth),
organized, authorized, or existing under the laws of any foreign country,,
such net income shall be ascertained by deducting from the gross amount
accruing from business
the United States
loan or trust company;
it within the year for taxes imposed under the authority
of the United States or of any State or Territory thereof, or imposed by
the Government of any foreign country:
Provided, That in the case] of a
company,
or
net income
bank, banking association,
all sums paid by
to every
surance
which have been issued
shall be free from taxa¬
tion, no deduction for the payment of the tax herein imposed shall be
allowed; and in the case of a bank, banking association, loan or trust com¬
pany, interest paid within the year on deposits or on moneys received
for investment and secured by interest-bearing certificates of indebtedness
during the preceding calendar
corporation, joint-stock company or association, and every in¬
organized in the United States, no matter how created
organized, not including partnerships; but if organized, authorized or
existing under the laws of any foreign country, then upon the amount of
year
capital stock, the
exceeding the amount
made within the year
^
close of the year, or, if no
the year on an amount of its indebtedness
of capital employed in the business at the close
of the year:
Provided, That in case of indebtedness wholly secured by
collateral the subject of sale in ordinary business of such corppration, jointstock company, or association, the total interest secured and paid by such
company, corporation, or association within the year on any such indebted¬
ness may be deducted as a part of its expense of doing business:
Provided
not
of insurance
* Corporations Subject to
be levied,
capital stock outstanding at the
amount of interest paid within
nvested within the
corporation, joint-stock company, association
or insurance company liable to make the return or pay the tax aforesaid
shall refuse or neglect to make a return at the time or times hereinbefore
That if
F.
abatement
an
as
of its Income
Failure to Make Returns.
received from any individual policyholder
credited to sch individual policyholder, or
of premium of such individual policyholder,
within such year; (third), the amount of interest acrued and paid within
the year on its indebtedness to an amount of such indebtedness not exceeding
one-half of the sum of its interest-bearing indebtedness and its paid-up
treated
of coupons, checks or bills of exchange shall obtain a license
the Commissioner of Internal Revenue, and shall be subject to such
paid by them and interest paid up¬
the ascertainment thereof and the payment threof
companies shall not include as Income in any year such
portion of any actual premium
as shall have been paid back or
the collection of
regulations enabling the
of premiums previously
such amounts between
and life insurance
by means
from
and expenses
Provided further. That mutual marine insurance
include in their return of gross income gross premiums
collected and received by them less amount paid for re-insurance, but shall be
entitled to include in deductions from gross income amounts re-paid to policy¬
and re-insurance reserves:
x,-...
.
other than the payment of losses
companies for purposes
companies shall
subject to this tax may
companies subject to the tax
of the calendar year J
shall, on or before March 1 1914, and the first day of March in each year
thereafter, and all corporations, joint-stock companies or associations, and
insurance companies, computing taxes upon the income of a fiscal year
which it may designate in the manner hereinbefore provided, shall render
a like return within sixty days after the close of jts said fisoal year, and
companies
or
associations, and insurance
herein imposed,
computing taxes upon the income
.within sixty days after the close of its fiscal year in each year thereafter,
or in the case of a corporation, joint-stock company or association, or in¬
surance
company,
in the place where
the laws of a foreign country,
located within the United States*
of Internal Revenue, with the approva
organized or existing under
its principal business is
in such form as the Commissioner
993
of the
THE
Secretary of the Treasury, shall prescribe, shall render
a
CHRONICLE
true and
of the Commissioner of
Internal Revenue and shall
constitute public records and be
open to inspec¬
president, vice-president, or
principal officer, and its treasurer or assistant treasurer, to the
collector of internal revenue for the district in which it has its
principal
place of business, setting forth (first) the total amount of its
paid-up
capital stock outstanding, or, if no capital stock, its capital employed in
business, at the close of the year; (second), the total amount of its bonded
other
within the year
United States;
and
(third), the gross amount
(fourth), the total
amount of all its
ance
corporation, joint-stock
company or
time
in
deductions
account of
on
income
gross
profits, losses, expenditures, or any particular thereof,.
or disclosed in
any income return by any person or
corporation,
permit any income return or
copy thereof or any book containing any
abstract or particulars thereof to
be seen or examined
by any person except
as provided
by law; and it shall be unlawful for
any person to print or pub¬
lish in any manner
whatever not provided by law
any income return or
any part thereof or the amount or source
of income, profits, losses, or ex¬
penditures appearing in any income
return; and any offense against the
or
premiums
amounts
premiums previously paid by them,
exceeding $1,000
ing all
other
than
to
received
come
premium
as
by them from all other
deposits
as
retained
are
by
return
sources
purposes
than the payment of losses ahd
expenses and re-insurance
panies shall
not include
received
paid back
abatement of
(sixth), the
bonded
or
from
credited
or
to
premium
amount/
income in
any year such
individual
such
individual
shall
as
policyholder,
or
of such individual policyholder, within
of interest accrued
have
treated
such
Treasury, for which such person,
partnership, firm, association, or corporation is liable:
Provided, That if
liable to pay any duty or tax, or owning,
possessing, or having
the care
sum
exhibit
of
a
employed in the business
or
of its in¬
a
at the close of the
year, and in the case
aforesaid,
trust company,
foreign country, interest
so
amount of such
or
an
bonded
paid
on
its bonded
or
in
amount
ex¬
returns
Ail
as
'
or
»
or
before June 30:
joint-stock
or
thereon
association,
shall
or
be
est at the rate of
due.
sum of
5%
paid
by
date of such note
or
or return
or
or memorandum ad¬
her to render to 'Such collector
required by law within
memorandum, verified by oath
neglect to render such list
or
required
as
days from
affirmation.
within the time required as
aforesaid,
or return
who is required to deliver
subject to tax fails
ten
or
aforesaid, shall refuse
a
monthly
or
other
re¬
to do so at the time
required, or delivers
which, in the opinion of the collector, is false or
fraudulent, or
contains any undervaluation or
understatement, it shall be lawful for the
summon
such person, or any other
person
specting any objects liable to tax
may summon any person
district
lies;
reside and
-
and
when
residing
the
or
or
having possession,
person
the returns thereof.
The collector
found within the State in which his
intended
to
be
summoned does not
not be found
within such State, he may enter
any collection
district where such person may be found and there make the
examination
herein authorized.
And to this end he may there exercise all
the authority
can
which he might lawfully exercise in the district for
Which he
was
commis¬
sioned.
Collector
"Sec.
May Make. Returns.
3176.
refuses
or
false
or
When any person, corporation,
company or association
neglects to render any return or list required by
law, or renders
fraudulent return or list, the collector or
any deputy collector
such
corporation,
a
immediately
shall make, according to the best information which
he
thereof by
on the amount of tax
the collector,
unpaid and inter¬
same
be-
,
,(d) When the assessment shall be made, as
provided in this section, the
leturns, together with any corrections thereof which
requiring him
care of books of account containing entries
relating to the busi¬
of such person, or any other person he
may deem proper,, to appear
before him and produce such books, at a time and
place named in the sum¬
mons, and to give testimony or answer
interrogatories, under oath, re¬
by the Commis¬
1% per month upon said tax from the time
the
...
person,
insurance company
demand
there shall be added the
or return, it shall be the
deputy collector to leave at such place of residence
suitable age and discretion, if such bo
present,
any return
or
upon notification of the amount of such
assessment;
and to any sum or
sums due and
unpaid after June 30 in any year, or after
120 days from the
date on which the return of
income is required to be made
by the taxpayer, and after ten days' notice and
omes
or
in
company
or
some one of
deputy collector the list
collector to
cases of refusal or neglect to make
such return, and in cases of ft
Ise
fraudulent returns, in which cases the
Commissioner of Internal Revenue
shall, upon the discovery thereof, at
any time within three years after
said
return is due, make a return
upon information obtained as
provided for
assessment made
further, That
by such person to the
required by law, and the person shall be
her residence or place of business at the
time the collector
as
ness
for assessment;
except in
by existing law, and the
or
the list of such person: Provided
deputy collector shall call for the annual list
turn of .objects
before the first day
shall be paid on
disclose the par¬
merchandise, articles,
custody or
or
or
as
deputy collector
.or. when ever any person
-
Provided, That every corporation, joint-stock
company or
association, and insurance company,
computing taxes upon the income of
the fiscal year which it
may designate in the manner
hereinbefore provided,
shall pay the taxes due under its
assessment within 120 days after
the date
upon which it is required to file its list or return
of income
of Internal Revenue
or
business, with
the
the several corporations, joint-stock
associations, and insurance companies, shall be
notified of
the amount for which
they are respectively liable on
this section
consent to
•
of June of each Successive
year, and said assessment
sioner
and merchandise, articles
license, shall fail to make and
wares
return has been rendered
or
And if any person, on being notified
paid
assessments shall be made and
companies
or
otherwise to deposit in the nearest
post-office, a note
received, be transmitted forthwith by the collector to
the
of Internal Revenue.
be received
dressed to such
or
such
shall,
duty, tax,
required by law, but shall
annual list
duty of such collector
or
by; it within the year for taxes imposed under the
authority of the United
States and separately the amount so
paid by it for taxes imposed by the
Government of any foreign country;
(eighth), the net income of such
corporation, joint-stock company, or association, or
insurance company,
after making the deductions in this
sub-section authorized.
All
Commissioner
may
no
absent from his
or a
ceeding the proportion of its
paid-up capital stock outstanding at the
close of the year, or, if 110
capital stock, the amount of capital
employed in
the business at the close of the
year, which the gross amount of its income
for the year from
business transacted and capital invested
within the
United States bears to the
gross amount of its income derived from
all
sources within and without
the United States;
(Seventh), the
case
collector
other
other indebtedness not
any
such list or return, which, being
distinctly read, consented to, and signed and verified by oath or affirmation
person so owning, possessing, or having the care and
management as
stating separately all in¬
paid by it within the year on deposits; or in case of a
cqrpoia ion,
joint-stock company or
association, or insurance company, organized
indebtedness to
pay
•by the
terest
under the laws Of
to
return
or
and objects liable to pay any
duty or tax, or any business or occupation
liable to pay any tax as aforesaid, then, and in that
case, it shall be the duty
of the collector or
deputy collector to make
indebtedness not exceeding the amount
bank, banking association
management of property, goods,
list
a
ticulars of any and all the
property, goods, wares and
year;
terest-bearing indebtedness and its paid-up
capital stock, outstanding at
the close of the
year, or, if no capital stock, the amount of interest
paid
within the year on an amount of
of capital
or
objects liable
or
an
and paid within the year on its
other indebtedness not
exceeding oneTialf of the
before the day on which the taxes
accrue,
any person
been
as
cases
tax, the several
a
portion of any actual
policyholder
■...
It shall be the
ratp and aggregate amount, according to the ffirms and
regulations to be prescribed by the Commissioner of Internal
Revenue,
com¬
any
management of any objects liable
list of such persons and enumerate said
ob¬
with the approval of the
Secretary of the
and interest paid upon such amounts between
the
the payment thereof and life insurance
as
concern¬
internal-revenue tax, and
a list or
return,-Verified by oath or affirmation, to the collector
deputy collector of the district where located, of the articles or
objects,
including the amount of annual income charged with a
duty or tax, the
quantity of goods, wares, and merchandise made or sold and
charged with
paid for re-insurance, but shall be ontitled to include in deductions
from gross income amounts
re-paid to policyholders on account of premiums
premium
a
care and
to make
amounts
thereof and
his deputies
or a
reserves: Provided
That mutual marine insurance
companies shall include in their
return of gross inqome
gross premiums collected and received
by them less
previously paid by them
cause
or
in each year, and in other
other
further,
ascertainment
-
time,
duty of any person, partnership, firm, asso¬
corporation, made liable to any duty, special tax, or other tax
imposed by law, when not otherwise provided for, in case of a
special tax,
on or before
July 31 in each year, in case of income tax on or before March 1
plus such portions of the
the companies for
fine not
"
ciation
taxable income all in¬
as
having the
tax, and to make
"Sec. 3173.
mutual fire insurance companies
deposits to provide for losses
income any portion of the premium
deposits
policyholders, but shall
a
through every part of his district and inquire after and
to pay any
make premium
and expenses shall not return
returned to their
to
persons therein who are liable to
pay any
jects.
dividends paid within the year on
policy and
Proved further. That
misdemeanor and be punished by
Every collector shall, from time
all persons owning or
depreciation of property/and in case of insurance
companies the net addi¬
tion, if any, required by law to be made within the
year to reserve funds
annuity contracts:
a
by
Government.
"See. 3172.
to proceed
by it within the United States, not compensated
otherwise, stating separately any amounts allowed for
tequiring their members
or
imprisonment not exceeding one year, or both,at
the discretion of the
court; and if the offender be an officer or
employee of
the United States he shall be
dismissed from office and be incapable there¬
after of holdipg any office
under the
year in business conducted
sums
to
foregoing provision shall be
individual policyholder as shall have been
paid back or credited to such
individual policyholder, or treated as an
abatement of premium of such
individual policyholder, within such
year;
and in case of a corporation,
joint-stock company or association, or insurance
company, organized under
the laws of a foreign
country, all losses actually sustained by it during the
and the
•
set forth
any
or
Islands, when such construction
Returns Not to Be Disclosed.
to make known in
any manner whatever not provided
by law to any person
operations, style of work or apparatus of any manufacturer or
pro¬
ducer visited by him in the
discharge of his official duties, or the amount
or source of
income,
and interest paid
upon such amounts between the ascertainment thereof
and the payment thereof and life
insurance companies shall not include
as income in
any year such portion of any actual
premium received from
by insurance
association,,
or
the
paid for re-insurance, but
from
company
That sections 3167, 3172, 3173 and
3176 of the Revised Statutes of
the United States as amended
are hereby amended so as to read
as follows:
"Sec. 3167.
It shall be unlawful for
any collector, deputy collector,
agent, clerk, or other officer or
employee of the United States to divulge or
„
re-paid to policyholders
may
have been made
-
in¬
%
sources
gross
or
,
'
•
plus such portions of the premium deposits as are retained
by the
companies for purposes other than the
payment of losses and expenses and
re-insurance reserves:
Provided further, That mutual marine insurance
companies shall include in their return of
gross income
amounts
such corporation, joint-stock
Columbia, Porto Rico and the Philippine
is necessary to
carry out its provisions.
income any portion of the
premium deposits returned to their policyholders,
but shall return as taxable income all
income roceived by them from all other
them less
associations,
neglect to make a return at the
times hereinbefore
specified in each year, or shall render a false or
or
shall be liable to a
penalty of not exceeding $10,000.
That the word "State" or
"United States" when used in this sec¬
tion shall be construed to
include any Territory, Alaska, the District of
sums other than dividends
paid within the year on policy and
annuity contracts; Provided, further,
That mutual „fire insurance
companies requiring their members to make
premium deposits to provide for losses and
expenses shall not return as
by
the Secretary of the
or
II.
made within the year to reserve funds and
the
include
as
~
corporations, joint-stock companies
companies aforesaid, shall refuse or
insurance company
or
allowed for depreciation of property, and in
of insurance
companiesTthe net addition, if any, required by law to be
to
manner
prescribe.
may
fraudulent return,
any amounts
collected and received
company, at such times and in such
surance
associa¬
within the United States;
(fifth), the total amount of all losses actually
sustained during the year and not
compensated by insurance or otherwise,
stating separately
or
If any of the
earnings in the maintenance and operation of the busi¬
properties of such
entitled
to an abstract
thereof, showing the name and in¬
corporation, joint-stock company, association or insur¬
each such
Treasury
ordinary and necessary
possession of property, and if organized under the laws of a foreign
country the amount so paid in the maintenance and
operation of its business
be
to said returns
access
come of
or insurance company, within the
year, stating separately all rentals
other payments required to be made as a
condition to the continued
shall
Treasury and approved by the
Provided further, That the
proper officers of any State imposing
general income tax may,
upon the request of the Governor thereof, have
President:
a
use or
case
Provided, That any and ali such returns shall be
open to in¬
upon the order of the
President, under rules and regulations
be prescribed
by the Secretary of the
to
tion,
or
such:
as
spection only
a
expenses paid out of
ness
tion
during such year from all sources, and, if organized
foreign country the gross amount of its income received
from business transacted and capital invested within the
under the laws of
xcvii.
by the commissioner, shall be filed in
theloffice
accurate return under oath or affirmation of its
and other indebtedness at the close
of the year;
of its income received
[Vol.
can obtain, includ¬
ing that derived from the evidence elicited by the examination of
the col¬
lector, and on his own view and information, such list or
return, according
to the form prescribed, of the
income, property and objects liable to tax
owned or possessed or under the care or
management of siich
person
corporation,
company
Revenue shall
assess
or
or
association., and the Commissioner of Internal
all taxes not paid by
stamps,
including the amount,
if any, due for special tax, income or other
tax, and in case of any return of
a false or fraudulent list or valuation
intentionally he shall add TOO% to
such tax; and in case of a refusal or
neglect, except in cases of sickness or
OCT. 11
1
a1
==
absence, to make a
list or return, or to verify the same as aforesaid, he shall
such tax.
In case of neglect occasioned by sickness or absence
aforesaid, the collector may allow such further time for making and de¬
add 50% to
as
993
CHRONICLE
THE
1913.J
„
knows with
reasonable accuracy the amount of his aggregate
"The
the amount so added shall be col¬
income, and the
which
after the tax has been paid, in
case
and the list
or return so
made and sub¬
deputy collector shall be held prima facie good
purposes."
'
J," That it shall be the duty of every collector of internal revenue, to
whom any payment of any taxes other than the tax represented by an ad¬
hesive stamp or other engraved stamp is made under the provisions of this
section, to give to the person making such payment a full written or printed
receipt, expressing the amount paid and the particular account for which
such payment was made; and whenever such payment is made such collec¬
tor shall, if required, give a separate receipt for each tax paid by any
debtor, on account of payments made or to be made by him to separate
scribed by such collector or
and sufficient for all legal
creditors in such form that
sucb debtor can conveniently produce the same
satisfaction of their respective demands
separately to his several creditors in
to the amounts
cient evidence
specified in such receipts; and such receipts shall be suffi¬
in favor of such debtor to justify him in withholding the
expressed from his next payment to his creditor; but such
amount therein
creditor may
upon
.
giving to his debtor a full written receipt, acknowledging
him of whatever sum may be actually piad, and accepting
amount of tax paid as aforesaid (specifying the same) as a further
the payment to
the
require the surrender to him of
satisfaction of the debt to that amount,
collector's receipt.
such
-.vc.
7 7777"' 7
'
7
section
to
'
process.
L.
of
production
this
produce books shall reside, to compel
and testimony by appropriate
to testify or to
appear
attendance,
such
.
jurisdiction is hereby Conferred upon the district courts of the
That
K.
United States for the district within which any person summoned under
books
'*
1 7
.
'•
cluding the laws in relation to the assessment,
of this section, jare
inconsistent with the provisions
hereby extended and
applicable to all the provisions of this section and to the tax herein
made
'
.
That the
M.
v
appropriate internal-revenue officers of those governments,
j^nd all revenues collected in Porto Rico and the Philippine Islands there¬
under shall accrue intact to the general governments thereof, respectively,
individuals is assessed and collected by either
of the assessment
and payment of the tax, except as to that portion of such
income from which the tax is deduced and withheld at the source during
provisions of the law this method requiring tax to be withheld at the
source does not take effect until November 1.
The tax withheld upon
any
amount of taxable income during November or December will only be
1 per cent
of such income exceeding $3,000.
This method of withholding the tax upon
Islands
The 1
other like indebtedness.
That for
N.
subdivisions thereof.
the purpose of carrying into effect the provisions of Section
II of this Act,
tax therein
and to pay the expenses of assessing and collecting the income
imposed, and to pay such sums as the Commissioner of Internal
Revenue, with the approval of the.Secretary of the
necessary,
guilty of violating the provisions of this section, or conniving at
such expenses are not otherwise provided for by
persons
the same, in cases where
in the Treasury not
otherwise appropriated for the fiscal year ending June 30 1914 the sum of
$800,000, and the Commissioner of Internal Revenue, with the approval of
the Secretary of the Treasury, is authorized to appoint and pay from this
such quarters,purchase such
clerks, messengers and janitors, and to rent
articles as may be neces¬
in the District of Columbia or any collection
supplies, equipment, mechanical devices, and other
sary
for employment or use
district in the United.States, or any of
That
no
rate
a
the Territories thereof: Provided,
compensation at
traveling agents on accounts in
agent paid from this appropiration shall receive
higher than that now received by
the Internal Revenue Service, and no inspector
tion
the same is withheld for payment at the source, or if the
the tax upon
to-be paid elsewhere in the United States, such person may
will be required.
is paid or
make affidavit to such fact and thereupon no return
Below is given a
reason
synopsis of the new law as it relates to the taxation of in¬
corporation
The
dividuals.
of subsistence, and no
other employee shall be paid at a
compensation higher than the rate now being paid for the same or
deputy collector. clerk, messenger or
rate of
■
.
Those of all persons
'
thereof.
7. All
of the Treasury, one
salary of $4,000 per annum; two heads
of divisions, whose compensation shall not exceed $2,500 per annum; and
such other clerks, messengers and employees, and to rent such quarters and
Provided, That for a period
of two years' from and after the passage of this Act,the force of agents:
deputy collectors, inspectors and other employees, not including the clerical
force below the grade of chief of division employed in the Bureau vof Interna*
to
of Washington, District of Columbia, authorized by
this section of this Act shall be
appointed by the Commissioner of Internal
under such
rules and regulations as may be fixed by the Secretary of the Treasury to
insure faithful and competent service, and with such compensation as the
Commissioner of Internal Revenue may fix, with the approval of the Secre¬
Revenue, with the approval of the Secretary of the Treasury,
Provided
further, That the force authorized to carry out the provisions of Section II
of this Act, when not employe^ as herein provided, shall be employed on
tary
v
Normal Tax.
.
;:;
follows:
new
Income Tax Law, every citizen
$3,000 will be required to
However, for the year
pay
a
normal
same
from
accruing from March 1 to Dec. 31.
the lowest to
the highest
taxed on that por¬
Each taxable
which such taxpayer will be required to fill out and return to
Four per cent per annum upon the amount
Blanks
will probably be on deposit with
venience of the taxpayers.
"The Treasury
regulations,
taxpayer the requirements of
from the various kinds
>
postmasters for the con¬
*
■
soon to
most
exceeds $250 ,000, and does not
Six per cent per annum upon
the lavr and its application to income derived
of business.
To
any
person
who keeps familiar
by which total net income
the amount by which the total net income
exceed $500,000.
the amount by which the total net income
exceeds $500,000.
For the purpose
that
of the additional tax, the total net income shall comprise
embraced in personal return,
dividends from
source,
that
on
which tax is withheld at the
and also undivided profits of cor¬
corporations,
porations in the nature of mere holding companies or those formed to evade
the tax.
■; «
'
Net Income Includes
.
All gains, profits and income
Professions
or
Sales
or
•
paid.'
however
•
7'..
vocations.
Business, trade
'
.
derived from salaries, wages or compensa¬
tion for personal services of any kind and
or commerce.
dealings in property, real or personal, growing out of the owner¬
ship or use of, or interest in property, real of personal.
Interest, rent, dividends and securities.
Transactions of any lawful business carried on
Gains
de\ise
or
for gain
or
profit.
'
profits or income derived from any source whatever.
or
Income from, but not the value of, property
descent.
acquired by gift, bequest;
;
;
,
Neither the return of any part of principal invested in life insurance to
the insured
included
nor
proceeds of policies paid Upon the death of the insured are
income.'
as
7
v
'
Deductions Allowed.
;
Necessary
actually incurred
expenses
which the income arises.
.
*
7,77.,
,
in carrying on
any
business from
'
All interest accrued and payable within the year on indebtedness.
7 All national, State, county, school and municipal taxes.
Losses actually sustained during the year in connection
from which the income is derived, not compensated
Debts actually, ascertained to
year.
■' 7".
.
A reasonable allowance for the
arising out of its
use or
as
"7
exhaustion
which has been paid at the source.
or
but such dividends shall not
benefits.
All expense of restoring property or
an
Amounts
bo de-
part of gross income.
Not Allowed.
family expenses.
Taxes assessed against local
for which
and tear of property
dividends upon the stock of any corporation, &c/
Deductions
personal, living
or wear
value at the mine of the output for the year.
which is taxed upon its net income;
All
other¬
employment in business not to exceed in the case
of mines 5% of the gross
Amounts received
or
e
be worthless and charged off during the
'
.
with the business
by Insurance
wise, arising from fire, .storm or shipwreck.
making good the exhaustion thereof
allowance has been made.
paid for
new
buildings, permanent improvements or better¬
ments made to increase the value of any
property or estate.
Exemptions.
Interest
upon,
the obligations of a
thereof.
•
The
State or any political subdivision
*
Interest upon the
obligations of the United States or its posseesions.
compensation of the President during the term for which he has
been elected.
The
be prepared, will make clear to every
$50,000,
over
exceed $250,000.
Five per cent per annum upon
1914.
.jf If any taxpayer should fail to receive such blank, he will be required,
"underpenalty, to apply to the collector or a deputy for a blank return.
annum.
the amount of net income
^
exceeds $100,000, and does not
the office of
March 1
^
,,
t
total amount of net income from al
$75,000.
will be furnished blank return by the district collector or a deputy,
the collector of the district in which he resides between Jan. I and
-
$3,000 for
7 Three per cent per annum upon the amount,by which the total net in¬
exceeds $75,000, and does not exceed $100,00\
The normal tax of 1 %
taxable income.
over
come
The taxpayer whose annual net income
exceeds $3,000 for the year 1913 will, therefore, only be
person
Additional Tax y
Two per cent per annum upon
and not over
such excess.
upon
or
$4,000 for husband and wife living together.
$20,000, and not over $50,Off) per
over
sources
1913 the tax will be measured by the net income
accruing from March 1 to Dec. 31.
applies
over
.
whose net income exceeds
tax of 1%
,•
V-7:"V7-
the amount of net income
deductible unless first reported in return as
"Under the
tion of the
;
All income the tax upon
Representative Hull, alluded to above,
abroad.
7;,.;...;\7
...
One per cent per annum upon the
internal revenue work.
The statement of
or
net incomes from property owned and from every business, trade
individuals and
of the Treasury, within the limitations herein prescribed:
general
,
residing in the United States, although not citizens
One per cent per annum upon
purchase such supplies as may be necessary:
Revenue in the city
'
.
residing elsewhere.
the Commissioner of In¬
additional deputy commissioner, at a
'
residing at home
profession carried on in the United States by persons, aliens, or citizens,
■In the office of the Commissioner of Internal Revenue at Washington,
ternal Revenue, with the approval of the Secretary
for the
synopsized
not
are
\ .
Incomes Covered.
Those of all citizens of the United States
similar work in the Internal Revenue Service.
District of Columbia, there shall be appointed by
provisions
tax
that they are substantially a continuation of the present corporation
excise tax law.
shall receive a compensa¬
higher than $5 a day and $3 additional in lieu
of $3,009
paying agent and paid to the Government, even though an individual's
income is under $3,000.
If the income of a person is under $3,000, or if
law, there is hereby appropriated Out of any money
appropriation all necessary officors, agents, inspectorsdeputy collectors,
excess
cent tax on such interest accruing to
its
Treasury, may deem
for information, detection and bringing to trial and punishment
per
bondholders will be withheld by the debtor corporation or
all individual
the political
or
incomes in
which relates to interest on corporate bonds and
contains one exception,
provided further, That nothing in this section shall be
the
This latter method of
the tax only relates to fixed annual or perioical
incomes exceeding $3,000 per annum, such as fixed annual or periodical
interest, salaries, rent, royalties, partnership profits, &c.
Under the
assessing and collecting
.
the
December 1913.
of November and
months
the
provided further, That the jurisdiction in this section conferred upon the
district courts of the United States shall, so far as the Philippine Islands are
islands; And
held to exclude from
computation of the net income the compensation paid any official by
governments of the District of Columbia, Porto Rico and thePhilippine
•
For the year 1913 all such
personal return of income for the purpose
make a
individual taxpayers will
And
concerned,Be vested in the courts of the first instance of said
one or '
viz: personal return of the taxpayer, and deductions
at the source of the income.
and payment
the
shall be by the
June 1 1914 and will be required^to
,
Assessment and Collection.
•
.
The normal tax upon
both of two methods,
provisions of this section shall extend to Porto Rico and
Philippine Islands: Provided, That the administration of the law and
the collection of the taxes imposed in Porto Rico and the Philippine Islands
by June 30 1914.
make payment
7;777:
'77'
Commissioner of Internal Revenue will make these deduc¬
and computes the tax.
Each taxpayer will be
assesses
notified of the amount of tax due by
•
imposed.
he
when
tions
remission, collection and re¬
specifically repealed and not
fund of internal-revenue taxes not heretofore
deductions are allowed by the law, must
same
all administrative, special and general provisions of law, in¬
That
or
however, this and other gross income, for which special
be embraced in the return of gross
family expenses;
lected in the same manner as the tax;
of $3,000 is allowed for personal living
exemption
statutory
The amount so added to the tax shall be collected at the same time
and in the same manner as the tax unless the neglect or falsity is discovered
days.
profits,
annua
executing his tax return would be both simple and convenient.
the matter of
exceeding thirty
livering such list or return as he may deem necessary, not
during the year, to the extent that at its end he
with his business affairs
.
compensation of the Judges of the Supreme and inferior Courts of
the United States
ployees of
Senators
a
and
now
State
or
in office.
any
The compensation of
ail officers and em¬
political subdivision thereof, but nov including
Representatives in Congress.
994
THE
CHRONICLE
Amounts of Income Exempt.
■
Three thousand dollars shalj be deducted from the net annual income
above ascertained
of
together;
General
,
paid at the
required to make
V'-.- ^
Time of Going Into Effect.
'!
Only
on
.,
source, no person
shall be
return himself unless be has other net income.
a
one deduction of the
Failure
$3,000 shall be made in
of any person.
case
Neglect to Make Return for Perosnal Tax,'
Any person, corporation, &c., liable to make a return for a personal tax
refusing or neglecting to make such return shall be liable to a penalty of
the year ending Dec. 31, and for each calendar year thereafter, except that
the tax for the year 1913 shall be computed
only
Provisions.
When
$4,000 for husband and wife living
The tax shall be computed upon the remainder of the said net income for
-
xcvm.
No taxable person shall be released
from liability for this tax.
a return is made and his
tax
as
•'*
each person and
[Vol.
■
that portion of income
accruing from March 1 to Dec. 31.
or
not less than $20 nor more than
$1,000.
Return of Income.
A true and accurate return of all net incomes of $3,000 or more
shall be made under oath
year
for the
On the 8th inst. L. F.
Speer of Bangor, Pa., was appointed
Deputy Commissioner of Internal Revenue in charge of the
affirmation.
or
It must be made to the Collector of Internal Revenue for the district in
wh.Ch
said
person
United States.
;
resides
has his principal
or
place of business in the
For the purpose of the additional
'
shall be returned personally.
:v>'Y,,
administration of the.income tax.
Mr. Speer is chief of the
Corporation Tax Division of the Treasury Department.
In¬
tax, all incomes
or super
' •
,
Form of Return.
structions
"
The form shall be prescribed by the Commissioner of Internal Revenue
with the approval of the Secretary of the Treasury.
-0'
ternal
Shall set forth specifically the gross amount
;o£ income from all separate
the aggregate items of expenses
From this total shall be deducted
sources.
structions
YVvV'; Time of Return,
'.
The return must be made
March 1 of each year
March 1 1914 and
1.
Each taxable person of lawful age for himself.
2.
Guardians, legal or national trustees, and executors, shall make and
render
return of the net income coming
a
the person
All
3.
if
After
corporations, etc.,
co-partnerships,
companies,
firms,
shall, in
separate and distinct return for each
on
individual capacity and
*
nership profits, whether divided or not.
'
s>
Exceptions to Returns.
only
their
on
Government, and if they shall fail to do
<
or
affirmation of the party rendering it.
In
is understated.
of disagreement between the
such person may
submit the
case
with
person,
All persons
■
iable
v
case
are
/'
respectively
'
"
Time of Payment.
before the 30th day of June
by the Commissioner of Internal Revenue are payable
•
•
of business
amount of tax
'
;
•
.
:
became due.
.
as
persons,
or
deceased
;
.
or
insolvent
persons
desiring to obtain such licenses shall make appli¬
premiums,
other fixed
or
disposal
or
mortgagees of
or
payment of interest, rent, salaries,
compensation, remuneration,
annuities,
emoluments,
derterminable annual or periodical gains,
income of another person
engaged, and the licenses will be issued to them
the law
can
be prepared and issued.
The Income Tax
exceeding $3,000 for
any
which lie says:
taxable
profits and
year,
'■
.
who
are
,
corporation, &c., subject to the normal tax are'not to be included in the
'v:.
..
Tax Withheld at Source.
Each of the persons, firms, &c., above Numerated is hereby made per¬
Fraternal
net income.
,
is paid at the
source,
the benefit of the
$3,000 exemption shall not be allowed unless there shall be filed, not less
than 30 days prior to the day on which the return is due, with the person
or concern
required to make such payment of tax at the
source, a
notice in
writing claiming the benefit of such exemption.
When
a
taxable person's tax is paid at the source, if he desires any de¬
duction for losses, expense of business, &c., he may file claim together with
return of any
either
with
other income
the Collector
upon
or
which the tax is not withheld at the
with the person
or
source,
human life.
valuable than
on
bonds, mortgages or other indebtedness
or
associations, insurance companies,
Incomes composed of coupons, checks or bills of exchange for or in part
payment of interest or dividends upon stock or obligations of foreign
cor¬
*
year
Interest
upon
Bonds of Foreign
Countries.
Mutual fire insurance
We
com¬
*
apply to all corporations, the
par¬
in the last hours of the consideration
expressed in this language:
*
life insurance companies
shall not include
as
such portion of any actual premium received from
policyholder
as
shah have been paid back or credited
ual policyholder, or
treated
as an
income in
any
any
individual,
to any such individ¬
abatement of premium of such indvidual
policyholder, within sUch year."
This is a valuable concession, although it stops
what
'
a
long
way
should have had.
we
short of what
The chief value
which it establishes.
There is, however, aootner question on
which
no
life insurance
man
dwelt
during the fight for further exemptions, because, speaking for myself, it
did not seem wise to
The language
confuse the geater issue by discussing minor
points.
I refer to occurs in Paragraph B, Sub-division 2, and is as
follows:
"That in computing net
the interest upon
thereof and upon
*
*
income under this section there shall be excluded
the obligations of
a
State or
any
the obligations of United States
political sub-division
and
its
possessions."
♦
The bill is here
dealing with the individual and how he shall make up his
The framers of the bill were obviously trying to avoid the diffi¬
culty which Justice Hughes (then Governor H \ghes) pointed out in opposng
the 16th Amendment.
It will be remembered that he opposed the
amendment because its language would allow the Federal Government to
tax the instrumentalities
of government of each State and the sub-division
'
of the State.
porations ,&c., engaged in business in foreign countries.
Foreign mortgagee or like obligations not payable in the United States.
properly enough,
are,
•
.Outside of the usual exemptions which
return.
joint-stock companies
;;:v
•
why life insurance done by responsi¬
ble mutual institutions should also be exempt.
corporation withholding
Individual Incomes Not Exceeding $3,000 Per Annum to Be Taxed at Source.
Incomes derived from interest
■
panies are also exempt on the theory, I presume, that property is more
his tax, as the taxpayer may choose.
of corporations,
'
beneficial and religious orders
orders should be exempt Was a reason
lies in the precedent
Benefit of Exemption.
person
-
•
,
exempt for the reason that they pay no dividend to any stockholder.
most of us contended for and
sonally liable for such tax.
a
'
-
it affects the insurance
responsible life insurance companies—-are to be taxed 1 % upon their
./•;
Incomes from the dividends on the capital stock or from net earnings of a
Where the income tax of
can
could not make the members of Congress see that every reason why these
"
Exceptions.
:.
as
'
of the bill is
as to
they
same
statement issued by Darwin P.
a
United States official authorized to receive the same.
Liability
the
Such application for the license'
■.
far
so
ticular thing that life insurance gained
'
in which
as
The regulations to which such dealers
Law, in
companies, is the subject of
required to make and render a return in behalf of another, are hereby author¬
above.
as soon
shall be subject will also .be issued at the earliest possible date.
ized.and required to deduct and withhold such normal tax and pay it to the
'
registering their
and addresses and stating the nature of the business
—I mean,
•
firms, companies, &c., including lessees
control, receipt, custody,
law
Under the Income Tax Law about to be enacted, life insurance companies
&c., employers and all officers and employees of the United States having
or
and the regulations referred to
and registration of the names and business will be considered a sufficient
persons.
personal property, trustees acting in any trust capacity, executors,
wages,
corporations under¬
Kingsley, President of the New York Life Insurance Co., in
.
Collection at the Source.
All
cent to the
to Penalty.
Incomes from the estates of insane,
real
or
for profit the collection of foreign interest
—-♦
per
,
Exceptions
1
or
cation to the Collector of Internal Revenue for such licenses,
and after ten days' notice'and
there shall be added 5
unpaid and interest at the rate of 1 per cent per month from
same
withholding such
prepared prior to the passage of the law.
Penalty for Delayed Payment*
due and unpaid after June 30
the time the
The law specifically provides
compliance with the law until the licenses and regulations referred to in
'
notification.
sums
quarterly.
or
be prepared after the passsage of the Act.
,
Said regular assessments shall be paid on or
On
or
particularly
more
1913 prior to the passage of the Act.
Therefore, all
are
i
such taxes shall
adopt such means and
may
This will be evident
formed that necessarily such licenses
Commissioner of Internal Revenue shall make such return himself.
demand thereof by the collector,
corporations, &c., shall
manner
of the deduction of the tax upon salaries, or other payments which
as a matter
names
upon
specify in what
liability shall attach with respect to the duty of
cannot be
'
of neglect ,or refusal to make returns, or in case of fraudulent or fals
'
withheld.
payments by means of coupons, checks or bills of exchange, you are in¬
shall be notified of the amount for which they
Assessments made
so
persons,
With respect to the licenses for [persons, firms
returns, upon the discovery within three years after said return is due, the
each year.
withheld
therefore, that persons, corporations, &c.,
same.
no
Neglected, Fraudulent or False Returns..
In
so
will be best adapted to their particular business
be made weekly, monthly
taking
.
#
Assessments.
before June 1 of each year.
or
on
:
„
case
as
conducting the
may
and proof to the Commissioner
Revenue.
'v."
of
tax for the year
'
of Internal
The tax
possible of their duties with respect to withholding
that
collector and the taxable
papers
it to the
they shall nevertheless be liable
charged with the duty of withholding such tax
manner
in the
proof of the amount understated.
case
only desired that all
as
The law does not
plan of procedure
increase shall .be made except after due notice to such party
No such
and upon
same
far
aware as
be withheld and it would appear,
The Collector may increase the amount of any return if he has reason to
believe that the
making returns of taxes
For the present it is
be made
the normal tax.
shall require each list to be verified by oath
deputy
so,
calendar year, and further instructions will be issued in due time and in
forms prqvided for
another's account
own or
Duty of the Collector of Internal Revenue.
or
It
need not be returned to the Government until after the close of the current
capital stock of corporations taxable upon their net incomes.
The Collector
re¬
.
,
shall not be required to make returns of the income derived from dividends
on
.
the Internal Rev¬
for the amount of tax which should have been withheld.
,No return of income not exceeding $3,000 is required.
Persons liable for the normal tax
source,
normal tax upon the payments referred to shall withhold it and
pay
only in
each of such individual's share of the part¬
upon
themselves liable for the amount.
quoting the provisions of the income tax law in
The law provides that those charged with the
duty of withholding this
which the tax is not thus withheld at the source.
Persons conducting business in partnership shall be liable for tax
per¬
called to the attention of those affected thereby.
thus withheld until
required as to ail income
regular periodical
obliged to withhold the tax and
are
so are
a
Under the law, such
a year.
and it is this feature of the law which it is desired shall be specially
same,
whom the normal tax is paid at the source; but no tax shall be
on and after Nov. 1
1913, and personal returns are
person upon
corporations
in¬
These
will be noted that, first.the law
requires that the amounts referred to shall
be withheld from the payment made to the
person entitled to receive the
tax, arising from an annual or periodical business relationship,
behalf of suoh other person, render a
Osborn.
corporations and business
These sections only relate to the collections of the normal tax of 1
%.
periodical gains, profits, or income of another person subject to
or
$3,000
the.3d inst. by
on
Commissioner says:
enue
having the control, receipt, disposal or payment of fixed or determinable
annual
Revenue
persons,
gard to withholding the tax at the
for whom they act.
persons,
and
of
excess
they fail to do
control
into their custody or
Internal
apply to all
amount in
sons
of
collectors of in¬
source were sent .to
which pay out to individuals
concerns
before
or
on
thereafter.
Persons Required to Make Returns.
'
,
or before
on
provisions of the law relative to the col¬
throughout the country
revenue
Commissioner
allowances above authorized.
and
to the
as
lection of the tax at the
Under this language
the Income of
a
bond of
a
State
or
any
political -
sub-division thereof is not taxable in the hands of an individual, but we
no
such language when we get
farther into the bill and learn how
find
a corpora.
\
The question is, therefore, whether State
corporation—any kind of a corpora¬
make up its return.
tion shall
tion—are
taxable.
-
part of the tariff
tax
>
■
,
.
"section" can be held to apply to the
If the word
'
<
/
"
entire text of the Income
bill, then all such income will be exempt
however held
I have quoted Ls used specifically in connection with the
making up of an individual's return and is entirely absent from that part of
the bill which deals with the making up of a corporate return, a question is
raised which will undoubtedly have to be decided in the courts.
but as the language
banking,
The
shares.
I
,t,r
•
,
1.
—
Director of the Postal Savings System
of the United '
Savings Bank Section attracted much at¬
tention, as did the addresses of Hon. Samuel W. McCall of
Massachusetts and Roberts Walker of the New York Bar
before the Trust Company Section.
In the Clearing-House
Section addresses were given by Carl Meyer of Chicago and
States, before the
legislative and financial news.
public sales of bank stocks this week aggregate
The transactions were all in National Bank
1
B. Keene,
municipal bonds in the hands of a
and
995 V
CHRONICLE
THE
Oct, 11 1913.]
Raymond B. Cox of the Fourth National Bank of New York.
While the deliberations of the general convention on the
currency
27
of
bill formed One of the most
important features of
of the week, the proceedings of the country •*
Monday anent the pending legislation commanded
the program
bankers
on
Exchange particular attention. By almost unanimous action the
country bankers voiced their opposition to certain of the
at 185-18534No trust company stocks were sold.
>
Shares. BANK—New York.
Low.
High. Close. &ast previous sale. provisions of the bill, the resolutions adopted representing
the views of bankers. whose institutions have a capital of
27 National Bank of Commerce._ 185
185H 185
Sept. 1913— 190 *
between $25,000 andj$250,000.
In accordance with the reso¬
lutions, a committee will appear before the Senate Banking
A petition to close the New York Stock Exchange to-da,y
and Currency Committee next week for a hearing in the mat¬
(Saturday) along with the holiday on Monday in celebra¬
ter.
A telegram in which a hearing for the committee was
tion of Columbus Day (Oct. 12) was voted down by the
asked was sent to Senator Owen of the Banking and Currency
Governing Committee on Wednesday.
Committee on the 7th by George W. Rogers, Cashier of the
The members of the Philadelphia Stock Exchange have
Bank of Commerce of Little Rock, Ark., who offered the
been granted the extra holiday to-day, business thus being
resolution which the country bankers' adopted.
Mr. Rogers'
suspended there until Tuesday next.
' 1
While Oct. 12 is a legal holiday in Ohio it is stated that request to Senator Owen was as follows:
stock and were, made at the Stock
Commerce
.
.
•
.
of country bankers held at Boston
At the meeting
with the date
Sunday, the banks will not be permitted
Attorney-General Hogan has decided that
this year
coming
on
observe Monday as a
to
holiday.
Wednesday's meeting of
At
■
the Governing Committee
Resolved, that the purchase of
stock transfer tax stamps from other
than
the failure to cancel said stamps when used,
provided by law, will be deemed an act detrimental to the interest and
agencies authorized by law, or
as
welfare of the Exchange.
lution under which the
Co.
are
Wednesday adopted another reso¬
stocks of the Federal Sugar Refining
Resolved, that the
from the list for the failure of
publish at least once in each year and
ment of income and balance sheet.
It may be
Federa: Sugar
said company to
preferred and common stocks of the
to submit to stockholders, a state¬
1
• -
In response to
endeavor to
from
the
Arkansas—George W. Rogers,
the
comply with Stock
list, not because of the
the company's failure to
Exchange requirements.
s
^
'
Florida—Bainbridge Richardson, Jacksonville.
Georgia—Fuller E. Calloway, La Grange.
Illinois—George Woodruff, Joliet.
Indiana—Joseph Bayard, Vincennes.
The
than is desirable."
Little Rock.
Colorado—Gordon Jones, Littleton.
Iowa—C. H. McNider, Mason
accordingly, requested that its stock be withdrawn
Stock Exchange list.
The Exchange has re¬
sponded by striking them off the
company's request, but because, of
is the
Alabama—McLane Tilton Jr. of Pell City.
required by the Exchange on the ground that to furnish
such statements "would divulge to our competitors more
company,
he would
Monday next.
committee which has been appointed:
the above, Mr. Owen stated that
give the delegation a hearing on
The following
.
recalled that in September the directors of
information concerning our business
••• ,
.
four propositions: The
We desire to have a country banker
Some live at great distances and we
can get a much larger and more representative meeting on dates suggested.
Will you kindly wire me at the Copley Plaza Hotel, Boston?
;
passed resolutions declining to make the statements
company
on
the committee.
from each State on
stricken from the list, viz.:
Refining Co. be stricken
heard
opposition to the segregation of
greatly aid the committee.
would
The Committee also on
',.v •••"•'
disposition to be made of
savings deposits, in opposi¬
tion to the clearing house for country checks and in favor of being allowed to
keep a portion of the reserve with the approved reserve agents.
We are all of one mind and agree on the points mentioned above.
The
meeting expressed confidence in the Administration and approved the Im¬
mediate passage of the bill if you will give us the relief asked for. \
If it would be possible to see us Monday and Tuesday of next week, it.
We desire to be
the following resolution was adopted:
views on the
and present to your committee our
;
the bonds, In
of the Stock Exchange,
yesterday, and at¬
thousand country bankers, a committee was ap¬
pointed to go to Washington
bill.
V
'
;
tended by more than two
City.
.
.
.
-Kansas—E. R. Moses, Great Bend.
Louisiana—N. E. North, Lake
Charles.
-
.
Maine—John R. Gould, Augusta.
Maryland—Daniel Ann ah, Cumberland.
Minnesota—N. F. Banfield, Austin.
•
•Mississippi—F. W. Foote, Hattiesburg.
Missouri—J. P. Huston, Marshall.
•
'
,,
Montana—Frank S. Lusk, Missoula.
A
proposal to change the opening hour
Exchangejfrom 10:30 a. m. to TO a. m. was
Board of Governors this week. ■
of the Coffee
rejected by the
*;
:
^
Norfolk.
Nebraska—C. E. Burnham,
Hampshire—F. H, Foster, Claremont.
New
New
North Carolina—J. G. Brown,
The
Thirty-ninth Annual Convention of the
Bankers' Association,
which
was
American
held in Boston the past
4
Snowden Haines, Burlington.
York—F. W. Hyde, Jamestown.
-
.
New Jersey—I.
North Dakota—L. F,
•
Ohio—O. N. Sams,
"
Raleigh.
Crawford, Sentinel Butte.
Hillsboro.
Oklahoma—W. B. Harrison, Enid.
week, proved to be one of
the largest and most important
held by that bodyV As was to be expected, the
currency question was the main topic of interest, and the
discussion of the pending .bill on the floor of the convention,
in the hotel corridors and, in fact, wherever bankers congre¬
Pennsylvania—David Barry, Johnstown.
South Carolina—J. P. Mathews, Columbia.
meetings
South Dakota—C. E. McKinney,
gated,. predominated over every other matter of interest.
The sessions were ail unusually well attended; at the opening
Wisconsin—:H. A. Moehlenpah, Clinton.
ever
of the main
convention
011
tribute paid
Association,
Charles H. Huttig, was most impressive; the first hour of the
opening session was virtually a memorial service in honor of
The
bankers
well-beloved executive.
were
Clearing House, and by Mayor
Fitzgerald, who received great applause, and after
"the Big¬
nesses, Bestnesses and Businesses of Boston," which was
much appreciated.
The principal speakers at the main con¬
vention were A. B. Hepburn, Chairman of the Board of the
Chase National Bank, who read his report as Chairman of
the Currency Commission; James J. Hill of St. Paul, on
"Agriculture in the United States"; Dr. George E. Vincent,
his formal
speech of welcome gave a little talk on
President of the University of Minnesota
and Sam Jordan,
of Missouri.
The
Trust
Company, Savings Bank and Clearing-House »
The addresses of Edmund
Deputy Comptroller of New York, and
,
'
,
WestVirginia—J. S. Hill, Charleston.
We
annex
named:
was
A
.
■
.
-
adopted
committee
/.
,
pending in the Congress." Its speedy
Any new financial system adequate to the
must.be one that country bankers, national and State
banking and currency bill is now
passage
needs of
can
,
.
,
>
herewith the resolutions of protest as
into law is desirable.
the nation
support with justice to
themselves as bodies corporate
*
tice to their customers.
sent
a
and with jus¬
'
banks in the fiscal centres, repre¬
United States. They bear
of national prosperity in proportion to their numbers.
Legisla¬
to the welfare of these country fyanks is of necessity also hostile to
number of about 75
the burden
tion hostile
% cf all the banks in the
the welfare of American citizens, whether
men.
A satisfactory banking system
Carter
farmers, wage earners or
has long been needed by the
business
people.
The
Legislation upon this subject has already been too long delayed.
efforts of Administration leaders at Washington to pass this statute
at a
Recognizing these facts, and having
had no opportunity to go on record concerning this legislation, a large
number of country bankers present at Boston, attending the convention of
the American Bankers' Association, held a meeting on this 6th day of Octo¬
ber 1913 and the following resolution was presented and adopted unani¬
special session
is
to be commended.
mously:
1.
That Government bonds have been
purchased by country banks at a
circulation and depository priv¬
under par.
The
good faith of the Nation and its credit must remain unimpaired.
If
national bank notes are to be retired, there should be exchanged for these
bonds a new security that will sell upon its'own merits at 100 cents on the
ollar in the markets of the world, and banks which desire to liquidate
price that would be unjustified except for
ileges that attach to them.
sections held notable meetings.
D. Fisher,
Terrell.
Vermont—Henry F. Field, Rutland.
Country banks, as distinguished from
welcomed to Boston by Thomas P.
Beal, President of the Boston
John F.
.
Wednesday, the enormous Sym-' by the country bankers, under which the above
phony Hall was packed to overflowing.
The
to the memory of the late President of the
the Association's
Texas—W. P. Allen,
Sioux Falls.
Columbia.
Tennessee—J. L. Hutton,
These bonds are now selling
996
THE
CHRONICLE
their circulation should be
given the right to have their bonds retired
not less than their face value.
2.
at
pends much
deposits is unwise.
the profitable
upon
always encouraged thrift
use
in their respective localities.
commercial business
a
These deposits
no
'
■
■
In rural communities there is
need for separate
are now
E.
market for bonds of any character.
pf the Savings Bank Section are: Presi¬
of Los
Angeles; Vice-President, William
Knox of New York.
A
i,;',:'
savings banks.
complete report of the meeting will be furnished in our
Convention Section," to be issued next
Satur¬
day, Oct. 18:
Banks
"Bankers'
satisfactorily caring for this business.
safely loaned out at home.
are
,:V.'
officers
new
dent, J. F. Sartori
Many millions of savings deposits have thus
been created.
doing
The
The prosperity of the people de¬
of their earnings.
Country banks have
the part of their customers and others resident
on
xotii.
Vice-President, Ralph W. Cutler of Hartford, Conn.; Sec¬
retary (re-elected), P. S. Babcock of New York.
That any unnecessary restrictions
placed upon the acceptance and in¬
vestment of savings
[Vol.
There is rarely any loca
...
To require country banks to invest
savings deposits in
any one class of securities, to forbid their use for local
farming and business needs, to divert this money from local to foreign pur¬
The Boston bankers'
committee of entertainment cannot
be too
will seriously cripple the credit of their customers, and result in the
very disaster which it is the aim of this legislation to
prevent.
poses,
creation
of
to
torical^features, while
•
enjoyment has
3.
That Section 17 of the bill should be amended
in so far as it refers to
matters pertaining to exchange.
We suggest that Section 17, page 33, bd
amended by eliminating the last word on line
15, the first five words on
and
line 16, the balance of section after the 18th
line, leaving the last paragraph
of Section 17 to read as follows:
"it shall be the duty of
with guides
Federal
receive
bank
reserve
Exchange profits represent
a
,
\
<
a proper charge for a fair service
rendered.
The bill as now
drawn will decrease the net earnings of the
average country bank by not less
25% and many of them much more.
This gain will not go into the
the
loss
and
give this money to
banks that
satisfactory profits.
In addition to the above the
change in the method of handling country items.
are
4.
That
buildings, namely Faneuil Hall, built
1763; the Old South Meeting House (1729), in Christ Church
(1723) and in King's Chapel (1754).
Thursday night a
musical fete of the convention was
given by Boston's famous
It provides that they
whatever percentages of reserves is
agreed
proved
to
reserve
12% is
keep not less than one-third
agents in fiscal centres.
with
having
nearby connections.
the passage of this law.
as
a
of such reserve, with
ap¬
reserve.
so as
members of the
This
opinion, but
centres.
With
objections and recommendations made herein
or National, can afford to
become
Federal system*.
new
banks, either State
that the great majority of
country national banks must
render their charters or retire from business.
The
show
net
he made with the signing of the new tariff
law, in which he
asserted that "we are now about to take the
second step,
which will be the final step, in setting the business of this
sur¬
exchange and savings
so reduce our
earnings that most country banks
operating losses instead of the reasonable profits we now
enjoy.
'
We desire to do
and
statement
means
sections of the bill will
will
of the legislative
program mapped out by him for the
special
session—i. e., the passage of the
pending currency bill.
His
remarks on the latter subject were contained in a
believe that unless this bill
we
-O "
full
cur
disregaded.
our duty to stockholders
We desire to become members
which the House has
of the Federal system and assist in
making it the success it ought to be and
can be made.
We earnestly call upon the
lution
And, finally,
•
we
now
follows:
as
'
_
■'
His
statement
in
I feel a very peculiar pleasure in what I have
just done by
of taking part in the completion of a great piece of business.
It is a
way
pleasure which is
very
hard to express in words which
are
the feeling: because the feeling that. I have is that
press
'
adequate to
we
of the people of this country a great service.
It
speak of these things without seeming to go off into
campaign
With but
the
one dissenting vote the
general convention in
following resolution placed itself on record as
indorsing
recommendations made^at
August:
.-
the
but that is not my feeling.
'
Chicago conference in
Resolved, That the report of the Currency Commission be
repeived and
placed
on
file.
Resolved, That
I have had the
'
•
we approve
the work of the Currency Commission and
that
I
ratify and indorse the action of the Chicago
conference, the conclusions
they reached and the recommendations they made.
we
Copgress the wisdom
and .the
necessity cf
to
the
Banking and Currency of the United States
Senate, in which
body the proposed law is now pending.
Any law passed by,, Congress in order to be effective and
measure
on
the
realize in full,
hopes'of those who
the approval
State
and
are seeking
currency reform must command
arid enlist the co-operation of.the banks of the
country, both
national.
Resolved, That
ury and
'
■
,y;
commend
we
the
Congress for their efforts
..V'' •'
President, the Secretary of the Treas¬
to
give this
country an elastic as well as
safe currency and pledge them our
hearty support for the enactment of
proper legislation to that end.
a
The
Bank
of
Des
Moines,
Iowa; First
Vice-President,
William A. Law, Vice-President of the
First National Bank
of Philadelphia;
Treasurer, J. W. Hoopes, Vice-President
City National Bank of Galveston; Secre-
and Cashier of the
try (re-elected), Fred. E. Farnsworth, and Assistant
Secre¬
tary
(re-elected), William G. Fitzwilson.
Ne&t year's
meeting of the Association is to be held at
Richmond.
The
suing
men
a
eloquence,
feeling of profound
who have carried this
thing
accomplishment of something like this at heart
boy, and I know
a
men
standing around
to do in order that there
see
me
ever
since
who can say the same
the things done which it
And
'
and
my
so
it is
a
was
necessary
might be justice in the United States.
solemn moment, that
brings such
a
business
to
a
conclusion,
I, hope I will not be thought to be demanding too much of myself or of
colleagues when I say this, great as it is, is the accomplishment of
only
half the journey.
•
,
We
have
which
set
the
business
have made monopoly
But there is
natural.
of
not
this
country free from
only possible
but
in
those
a
:
•
conditions.
sense
easy
and
taking away the conditions of monopoly if we
also the power to create monopoly, and that is a
financial,
merely, circumstantial and economic power. 1 The power to
no use
do not take away
rather than
a
control and guide and direct the credits of the
country is the power to say
who shall and who shall not build up the industries of the
country, in which
directio^they shall
We
aremow
be built and in which direction they shall
not be built.
about to take the second step, which will be the
final step
That is what we shall do in the
in setting the business of this country free.
newly-elected officials of the Association are: Presi¬
dent, Arthur Reynolds, President of the Des Moines
Na¬
tional
profound,
'
we urge upon
incorporating into the proposed law the amendments
recommended by the
Chicago conference, all of which have been
elaborately presented
Committee
was
thing—who have been waiting to
;-v'/■(*
Resolved, That
one very
is hard to
through with studious attention and doing justice all 'round, I should have
had part in serving the people of this country as we have
been striving to
serve them ever since I can remember.
&
'../'-'V
v.':
It is
gratitude that, working with the splendid
ex¬
have done the
rank and file
the
full, is
\/:,v
Gentlemen:
ask for the committee that will present these
resolutions
Robert L. Owen, Chairman, and the
Committee on Banking
Currency of the United States Senate, an
opportunity to be fully
'
the
';■'?/
•
to the Hon.
'
bill,
we
pessimistic individuals believe."
.
'
confronts them.
rind
heard in the premises.
shall do in the
currency
already passed, and which I have
utmost confidence the Senate will pass much sooner than
some
Congress to consider this reso¬
formal expression of the opinion on the
part of country bankers,
as a
who realize the seriousness of the situation that
This is what
country free.
duty to the country, but
customers must not be
the tariff bip disposed
of, President Wilson again
evidence of his purpose to insist upon the
completion
gave
With these subjects
to meet the
that very few country
day
"
larger banks in the fiscal
do not propose to express an
All
University had special guides appointed to conduct the bank¬
through the many buildings of that noted
university.
are
is amended
Muck.
ers
counted
That the above matters include
only those features that country bank¬
especially concerned with.
There are others of
equal importance
which concern the
we
Karl
sail through Boston's harbor and
an inspec¬
Yard; while Harvard
5.
ers
a
extended the courtesies of the Government
with
tion of the
battleships anchored in the
These connec ions must be maintained
after
them should be
conductorto
over
old-fashioned New England shore dinner in
Paragon Park,
Beach.
The Commandant of the
Navy Yard
an
larger amount of funds either in vault
a
Orchestra,
given
was
Nantasket
should carry
Very few country banks
The money so held by
part of country bank
Symphony
Friday
The reduction of reserve from 15
real advantage to the country bank.
do business without
can
or
no
upon
The
Boston's famous old
already earning
To accomplish this it would
require
that the small country banks keep in the Federal
reserve banks an amount
in excess of their legal reserve sufficient to care
for their clearings from two
to six days, depending entirely
upon the distance and time they are from
the bank acting as such clearing house.
»
with it the right to
the street.
torical
bill provides a radical
shall be cleared and not collected.
it being held in magnificent Symphony
Horticultural Hall, directly
long to be remembered. ; Wednesday night was ."His¬
Night"; addresses and music being given in some of
one
cf
America,, but will be enjoyed solely by the
banks of collection centres which are now
making satisfactory profits.
The result of this section will be to take income
from banks that can least
afford
success,
supper was served in
were
than
men
Monday, Tuesday
decorations of these two
buildings
particularly handsome and appropriate, while two large
orchestras helped to make the
evening most enjoyable and
earnings of country
It is
pockets of the business
huge
a
across
net
On
pointing out and- explaining the many points
Tuesday night, grand bankers' ball proved
interest.
Hall, while,
'
large part of the total
the entertainment provided for tlieir
been excelled. "
never
Wednesday
to be
funds to the credit of said depositor in said
bank last mentioned."
reserve
banks.
of
on
upon
ex¬
motor trips to Boston, its parks, to Concord
and Lexington and
along the North Shore were provided,
every Federal
deposit, at par, and without charge for exchange
or collections, checks and drafts drawn
by any of its depositors upon any
other depositor, and checks and drafts drawn
by any depositor in any other
reserve bank to
many unusual courtesies
the
visiting delegates, guests and their ladies,
opportunity being given to view Boston's many his¬
every
two
banks under the same management and under one roof
will place a burden upon
country banks which they cannot bear and will
deny to their patrons facilities which they require and now
enjoy.
highly praised for the
tended
Segregation of savings deposits, the setting aside of separate capital, the
officers
year are:
of
the
Trust
Company Section
President, Fu H; Goff
of
for the
currency bill,
individuals believe.
Because the question,
done, will arise over the country:
wait to
that
I
crown
now
For what do
the
pessimistic
that this piece of work is
we
ourselves with consummate honor ?
wait?
Are
Why should
we so
we
self-denying
do not wish to complete our success ?
we
quoting the other day to some of my colleagues in the Senate those
lines from Shakespeare's "Henry V" which have
always appealed to me:
"If it be a sin to covet honor, then I am the most
offending soul alive,"
was
and I
am
happy to say that I do not covet it.for myself alone.
with equal ardor for the men who are associated with
me, and
going to
I
en¬
can
Cleveland"; Ohio;
which the House has already passed and which I have
utmost confidence the Senate will pass much sooner than some
come
the
I covet it
honor
is
from them.
their associate.
only complete the work which they do.
I
only counsel when they ask for my counsel.
I can come in only when
am
the last stages
I
can
of the business are reached.
And I covet this horior for them
it for myself, and I covet It for the great party
because that party is not honorable unless it re¬
deems its name amd serves the people of the United States.
So I feel to-night like a man who is lodging happily in the Inn which iies
half way along the journey and that in the morning with a fresh impulse
we shall go the rest of the journey and sleep at the journey's end like men
with a quiet conscience, knowing that we have served our fellow men and
have, thereby, tried to serve God.
quite as much as I covet
of which I am a
997
CHRONICLE
THE
1913.]
Oct. 11
member
It wiU be
ties is felt
of the new tariff on commodi¬
several months before the effect
and in many cases
Manufacturers who have
it may be a year.
material will not make reductions until their stock bought
under the high tariff has been used up.
The effect on wool probably wiU
not show untU next spring; the full effect on sugar not for several years.
large stocks of raw
the tariff bill was affixed, as
announced in these columns on Saturday last, on Friday night,
Get. 3.
While it had been signed in the early afternoon by
The President's signature to
Banking and Currency Committee is de¬
That the Senate
termined not to hurry the
hearings
the pending currency
on
made
to fix Oct. 18
by a vote of
Speaker Clark (1:25 p. m.), and Vice-President Marshall
6 to 4.
The possibility of their extending a week beyond
(1:34 p. m.), President Wilson purposely delayed signing it
that date is indicated in the decision of the committee to
until late at night, this being done, he stated, on the advice of
conclude the hearings "cm or before Oct. 25."
On the 7th
the Attorney-General, in order that the bill might be signed
inst. President pro tern. Clarke of the Senate, Majority
after business transactions everywhere, including San .Fran¬
Leader Kern, Democratic Whip Lewis, Chairman Owen and
cisco, had closed for the day.
The bill was approved by the
Senator James of Kentucky were called to the White House
President at 9:10 p. m.
to discuss the situation attending the bill in the committee.
While
the
bill
bill
likely to be the subject of separate
Except for the wool and sugar
denatured alcohol section, the latter goes
into effect on Jan. 1 1914.
The new law went into effect
at midnight on the 3d inst.;
the reduced duties on manu¬
factures of wool will not become effective until Jan. 1
1914, while raw wool becomes free of duty on Dec. 1 1913;
the reduced rate on sugar and molasses will not take effect*
until March 1 1914;
sugar becomes free on May 1 1916.
legislation by Congress later.
the currency
came
Tariff Act of Oct. 3 1913 until
Almost immediately after
ative,
concern
allowing
a
developed
as
the
new
revoked
into
of the provision
centum on all
literally interpreted,
the provision would give a 5% decrease to goods in American
bottoms, and automatically grant the same privilege to the
slips of the many nations whose treaties with the United
States guarantee no discrimination between their vessels
and those of America.
This construction, which would be
a horizontal reduction of 5% in the tariff for importationfrom most of the great countries of the world would involve
was
declared
the 4th inst. that,
on
probably ten millions.in revenue for the Government, cre¬
ating, it is said, a deficit instead of a surplus in the Treas¬
has been estimated by the tariff framers.
Protest against the clause was entered this week
ury, as
by Ger¬
Germany gave notice that
exception would be taken to any ruling on the new tariff law
which would limit the application of the 5% differential to
imports from Prussia, the Hanseatic States and MecklenburgSchwerin to the exclusion of the remainder of the German
France and Portugal.
many,
Attorney-General McReynolds
McAdoo for an interpretation
of the clause, and it was announced that, pending his decision,
On the 8th inst.
Empire.
was
called upon
by Secretary
customs collectors
all
over
the country have
been notified to
support him, were emphatically denied by
His denial in the latter case was embodied
the
Wilson
conferred with
Senator Simmons,
repeal of the provision in
wood
was
quoted
with the tariff law
as
as
with
a
N. Fowler, Frank A. VanNational City Bank of New.York,
and James G. Cannon .President of the Fourth National
Bank of New York, were heard by the committee this week.
Mr. Fowler attacked the bill, declaring it would create a cur¬
Former
which
and if
passed would result in
cial
a
they
Underwood
It is only
on
concerned, was indicated by
banks should be
reserve
gold
tariff and until those
goods are sold out
basis made by the new
law.
said,
a
the present $750,-
5% tax would form a guarantee
against notes outstanding issued
Against the notes, he said, the
equal to their
He recommended the holding of a
fail.
required to hold a reserve
against deposits.
reserve
of
a
billion and a quarter dollars by
Government to control the
ment, to enable the
of the country.
Criticisms
made
by " Senator
the Govern¬
gold supply
•
! / ■ "'
Hitchcock recently in the
the bill Were
answered in a state¬
Carter Glass of the
House Banking and
"New York Sun" against
ment of Chairman
According to the "Sun,"
Senator Hitchcock predicted that the Administration bill
would be changed by the Senate in "several hundred" par¬
ticulars.
He was quoted as stating that "the hearings so
far have demonstrated to my satisfaction that if the bill were
to be passed in its present form it would probably produce
a violent contraction of credit, followed later, probably, by
wild inflation before a proper balance is reachedX^Concerning some of Senator Hitchcock's objections to the bill,
Currency Committee on the
6th.
a
Representative Glass says in part:
is a perfect
susceptible of improvement,
quite curious to know to what provisions of it Senator Hitchcock of
Nebraska is to attach the "several hundred amendments," of which he
speaks in his rather persistent newspaper crusade against the bill.,, It
would also be interesting if this distinguished gentleman would consent to
be a little less general and a little more specific in his criticisms.
Instead of "several hundred" alterations, as suggested in his latest news¬
paper interview, Mr. Hitchcock so far ventures to specify but four objecWhile I do not think the currency
of the new
so far as re¬
measure,
I
Representative
that is going to reduce prices.
bought under the old high
the merchants will not accept the
*
He recommended that
,
by banks which might
following remarks:
have in stock were
needed.
und, which would be held
competition caused by the new law
Goods that merchants now
bank-note-asset currency, under which each
would issue its own notes as currency as
this currency, he
months before the effect
the 4th inst. in the
were
Fowler
Mr.
remain in circulation, but that the
2% Government bank notes securing them be retired and the
notes become "credit currency," issued by the banks!
On
'
duced prices are
ruin."
system of pure
000,000 of bank notes
relating to the 5% dis¬
the consumer,
was
individual bank
ships, I think he should send a mes¬
sage informing us of the fact.
In that case I shall call a meeting of the
Ways and Means Committee and institute hearings at which the question
wiU be fully considered.
However, I see no necessity for any change in
tariff wall become apparent to
needs of the country,"
"commercial bedlam and finan¬
advocated the establishment of
"not adapted to the
rency
criminating duty in favor of American
That it will be many
Congressman Charles
derlip. President of the
He added:
the law.
thought and to my charac¬
ask that you give a very prominent place in your issue of
to this denial.
Very truly yours,
WOODR0W WILSON.
to-morrow
Representative Under¬
view to effecting the
repeal of the provision
It is contrary both to my
ter, and I must
question. Representative Under¬
on Thursday that he is satisfied
it stands.
this morning as saying that any one
but a rebel. Of course I never
support me is no Democrat
thing.
stating
If the President desires a
quoted in your issue of
am
said any such
date with President
by Joseph W. Folk, Solicitor of the State Department,
wood and
I
who does not
subject was held on the same
after which the latter
Washington "Post":
To the Editor of the
Sir:
him on the 8th.
in the following
.X
letter:
withhold the 5 % differential in all cases—rebates being made
when.the matter would be finally settled.
A conference
on
quick action on the bill and a published statement that
"rebel" any Democrat that would not
he would class as a
duties imposed by this Act shall be al¬
lowed on such goods, wares and merchandise as shall be imported in vessels
admitted to registration under the laws of the United States; Provided,
that nothing in this subsection shall be so construed as to abrogate or in
any manner impair or affect the provisions of any treaty concluded between
the United States and any foreign nation.
'
It
in favor of cur¬
legislation during the present session. I think it is
our
duty to carry out that purpose." - Reports that the
President was attempting to prod the Democtatic Senators
duties of goods imported in
This provision stipulates that:
A discount of 5 per
Democratic party
record in a caucus recently
Senate went on
5% discount in the
American ships. '
declaration that "the
out with the
rency
tariff law became oper¬
to the meaning
in order to
just as responsible to the country for prompt currency re¬
form as it was for tariff revision.
The Democrats in the
^
regulations.
with stating that if it became apparent
being delayed, the Democrats,
is
received during that, portion of
from March 1 1913 to Dec. 31 1913.
Customs
officers have been notified by the Secretary of the Treasury
that all customs regulations drafted under the Tariff Act
of 1909 and all other Acts not revoked will continue to
new
of the Senate behind
Majority Leader Kern
responsibility for the legislation, would call a caucus.
Senator Simmons, Chairman of the Finance Committee,
who likewise conferred with the President on the 7th, also
the income tax section is due
These payments will be based on the
apply under the new
party measure.
assume
the year
by
as a
that the bill was
subject to the tax
income
bill
later credited
was
apparent that measures
get the Democrats
to be taken to
were
payment under
1914;
30
June
the 6th inst., when an attempt
on
conferences it. became
the
After
provisions and the
first
evidenced
by Senator Owen, Chairman of the committee,
as the date for the final hearing was defeated
passed carries no cotton futures tax,
as
it is stated that this is
The
was
,
am
and feel sure that
bill passed by the House
it is somewhat
998
THE
tions to the bill
CHRONICLE
it passed the house; and his
comment upon these four
features of the measure makes me
perfectly willing to concede that the
not provided for
a complete
justification, as far as he is con¬
cerned, of the plea for further information on the
currency problem before
being required to act.
/
The assertion that the bill
as
The banks would be
required^to maintain a 5% redemp¬
tion fund
against these notesfas is
required in the case of
it passed the House would
tract commercial credits," even
"frightfully con¬
figment o^the imagina¬
capable actuary with any
temporarily, is
a
tion.
It has not one particle of basis; and no
regard for his intellectual integrity would report
any such conclusion.
♦
'Vv'.;. *
As to the talk of
the bond-secured notes.
ultimate period of "wild
an
scheme, providing for
of the currency to the extent of six
thousand
*
million
No feature of the currency bill received
greater attention
consideration, and
none was
more
exhaustively discussed
sion having to do with the powers of the
Federal
September 27.
The objections to the bill as it
stands and
the recommendations of
the Association with
regard thereto
as
submitted in a brief to the
Senate Committee on
Banking and Currency, are published in
part by the New
York
"Evening Post," from which we take the
following:
possible inflation
a
dollars.
„
or more
serious
than the provi¬
boards.
reserve
These
do not comprehend,
There is but
approximately, for
except suggestively, the routine functions of
of them which has not been
exercised, fully or
one
"The
50 years by the Secretary of the
Treasury or the Comp¬
that such
in
respecting the Federal
as
are
•
When the local banker in time of
distress discounts his notes to the Federal
reserve bank,
they have the power, and must
necessarily have the power,
to refuse his application.
They can give any reason they see fit.
There is
appeal.
They can supply Bank A, on one side of the
street, with un-.
limited funds, and refuse all assistance to
Bank B, on the opposite side.
It will not be
necessary for this machine to have its influence
effective
no
work
of
rendered of little value
eligible
on
held by the national banks.
paper
In
It has been
the banks hold
ninety days
less to
an
insufficient
amount of paper
•
refuting
of the
try held
v
sum
on
there
total of
was a
total of
of the paper held
than
more
90 days.
by the national banks showed
less and 42% in more than
90 days.
maturing in
a
way or receive
,
cities held
$933,000,000 showed
less, and $639,000,000
Outside
banks.
of
central
a
reserve
and
more
reserve
On Aug. 9 last these banks held
$1,735,000,000 showed
a
maturity of
maturity of
more
cities
days.
there
a
are
6,736
maturity of 90 days
than 90 days.
or
less and
country
$1,337,000,000
'
.
1
The Glass bill provides that
notes and bills issued for
commercial pur¬
poses, &c.', and having a maturity of not more
than 90 days,
maybe re-discounted by any member bank with a
Federal reserve
bank, and also that
the Federal Reserve Board
may issue to the
reserve, banks Federal
\
The volume of short-term
paper constantly held by the banks
of the coun¬
try is so great as to make the facilities
afforded by the Glass bill
of incculable benefit to the business interests
of the
country.
Senator Bristow, a member of the
Senate Banking and
Currency Committee, introduced by request on the. 7th
inst.
a
bill for the issue and
teed credit notes.
'redemption of national bank
guaran¬
The bill provides that
any national bank
having $100,000 capital and a surplus
equal to 20% of its
capital may, in addition to its bond-secured
'
out national bank notes for
deposit of bonds
as
now
issue and
circulation, take
circulation, without a
provided by law.
such notes is not to exceed
The amount of
100% of the capital.
The bill
provides:
Thai every national
banking association taking out
notes,
in the preceding
section, shall pay to the Treasurer of
in the months of
January and July,
tax at the rate of
5% per annum upon
Its average circulation in
excess of the amount of
its bond-secured
circulat¬
ing notes outstanding during the
preceding six months.
That said taxes so
paid shall
expense or
guaranty fund to
redeem notes of failed banks
and to pay the cost of
printing and redemption.
That on ail such unsecured notes not
provided for by the
deposit of
money with the Treasurer of the United
States, at the. end of six
months,
the rate of tax shall be
increased to 6 %, and on all of
such unsecured
notes
*
*
♦
•
♦
reserve
*
banks should not pay
small and inadequate reserve,
thereby defeating the
as applied to national
banks, and jeopardiz¬
ing the security of depositors. •
upon
reserve
a
very
requirements of the bill
•
The People's. National Bank of
for Oct,
some
1 makes the
of the nlost
Pittsburgh in its circular
following striking comment regarding
objectionable features of the Banking and
Currency Bill, which has passed the House
tives and is
•
now
of
Representa¬
under consideration in the Senate:
The attitude of the House of
Representatives
on
the
Banking and Cur¬
indicated last month by the
passage of the measure by a
84, without the incorporation of a, single
important amend¬
suggested by various banking
committees, commissions and
rency Bill was
vote of 286 to
ment
confer¬
ences
be
that have closely, studied the
proposed legislation.
some
probability that the Senate will
There,seems to
the bill, but not, it is hoped,
without modification in at least three
important particulars. ' it is mani¬
festly unjust to compel national banks alone to contribute
pass
$200,000,000
capital to the
new reserve
banks,
forfeiture of national charters.
or, as an alternative, to suffer the
abrupt
It is unjust to give absolute control
of the
$200,000,000 capital thus dragooned from the national banks into
the hands
a board of political
partisans who have no personal stake at
risk, who are
responsible for financial results and who are not required to be men
of
not
ex¬
perienced in banking.
And in the third place, it is
a
dangerous experiment
—demonstrated to be such by other nations in
past times—for a Govern¬
ment to traffic in its own credit by the issue of
Currency notes in times of
provided
a
an
♦
.•
peace.
as
the United States
constitute
ment
reserve
currency against paper of this character.
'
/ v
The claim which the opponents of the
bill have been
insistently making,
that the volume of eligible
paper held by the national banks of
the country
was so small as to render
these provisions of the bill of
little value, would
thus seem to be disproved.
■ ♦
vaults or on deposit with a Federal reserve
There should be no preferred
depositors in Federal reserve banks.
"That provision should be stricken out
entirely.
It is dangerous.
A
careful reading of that
provision of the bill impels one to believe that
unless the Federal reserve Board
exercised very close scrutiny and estab¬
lished strict
regulations, very nearly all the functions performed
by the
commercial department of a bank could
be exercised by the
savings depart¬
a
$3,073,000,000 of paper, of which
valuable consid¬
bank.
total of
$1,573,maturity of 90 days or
a
than 90
a
to
interest,is to be paid on Government
moneys, the same rate should be paid to banks as
an inducement to them
to deposit that
part of their reserve which th,e measure leaves
optional
with them to keep in their own
or
.
city banks held in round numbers
$1,375,000,000 of
paper, of which $758,000,000 showed a
maturity of 90 days or less, and
$616,000,000 a maturity of more than 90
days.
reserve
means
"From aneconomic
standpoint, the Federal
interest on deposits therein, but if
The central reserve
Reserve cities other than central
000,000 of paper, of which
effec¬
the
said notes;
(6) that the Treasury will have
acquire the gold required for
redemption purposes. "
"As the Government will not
receive a valuable consideration
through
the issue of these
notes, and all Government moneys will be
deposited in
the Federal reserve
banks, under the provisions of this measure,
leaving
the
Treasury powerless to acquire gold except by issuing bonds, it will be
dangerous to the credit of the Government to
impose upon it this redemp¬
tion requirement;
In short, 58%
maturity in 90 days
more
were
make
eration through the issue of
the
of the coun¬
"
allowed to select its officers and two
they granted voting powers.
Government guarantee the Federal reserve
notes and
compel the Treasury to redeem them on demand
presupposes: (a) That the
Government is to be &
beneficiary in some
"To
discounts.,/. Of this
$3,428,055,157 maturing in 90 days or less and a
$2,594,351,440 maturing in
Therefore, its members
possess
Advisory Board, supported by public
sentiment, will be
tive than
.
Comptroller show that the national banks
Aug. 9 1913 $6,022,406,597 of loans and
lawful
its
criticism
salaries, maintain an office where the office of the
Federal Reserve Board is
located, and attend the meetings of the Federal
Reserve Board, but without a
vote.
The influence of these two
members
i
The reports to the
Such
economize the supervisory
of Control.
of such officers receive
make the re-discount
provisions of the Glass bill val¬
uable to the banks and to the commercial
interests.of the country.
In order to secure accurate
information on this point, the
Comptroller
of the Currency on the last
call, Aug. 9 1913, required all national
banks to
report the amount of paper held
by them, showing how much carried a ma¬
turity of 90 days or less, and how much a
maturity of more than 90 days. "
A few of the banks failed
to classify the
maturities, but the omission af¬
fected only about 2H% of the total.
or
impair
may
as
inefficiency, prejudice and political control.
high qualifications, based on a
profound knowledge
of and a wide
experience in the theory and practice of finance.
We can
see no menace in
having the Federal reserve banks represented
upon this
Board, but if the Federal reserve banks are
denied representation upon the
Federal Reserve
Board, then the powers of the Advisory Board
should
be increased.
This Board should be
frequently asserted since the currency question has been
under
discussion that
prejudiced,, but
public function of
far-reaching importance.
They should
account of the small volume
these criticisms he says:
as
should be above
suspicion of
Secretary of the Treasury McAdoo has taken
exception
(Oct. 3) to the charge that the re-discount
provisions of the
are
of the Board
a
wish.
Every banker in the county will
politics is desired.
They will know which
public officials running for office are
friendly and which are unfriendly.
Realizing that the machine may either make or
destroy, the bank will al¬
ways try to do the thing which will
please those in
bill
its
provisions, which, if not changed,
Governmental instrument of regulation.
The Federal Reserve Board is
to possess
very great powers and is to per¬
form
of
.
of
a
•'
or
control.
as
•
banks, even against their
They would be compelled to become a
portion of it and to
controlling power as a matter of self-preservation.
or
,
coming in a spirit of helpfulness
experience qualifies them to forecast the
effect of the
proposed law upon the business of
the country.
"The committee
suggests and urges the
following changes:
"The minimum number of
Federal reserve districts and Federal
reserve
banks required by the
proposed Act,
gamely twelve, should be materially
reduced.
The needs to be met and
the benefits to be derived from
an adequate reserve system are best
assured through
banking associations of large
capital and resources.
A smaller number of
Federal reserve banks would be
more efficient in
consolidating and mobilizing reserves and
protecting and
conserving the nation's supply of gold than
the minimum number men¬
tioned in the bill, and
would concentrate and
carry out the will of the
threat, demand
.
should not be regarded
from those whose
follows:
know what brand of finance
some
efficiency
quoted in part
I believe
to make any
.
a
measure is designed to
meet; therefore, Congress should receive
friendly spirit the criticism which is
directed by bankers and merchants
a
against
this Federal Reserve Board would
in the course of years grow into
the most powerful political machine
the world has ever seen.
Its influence
would percolate down
through the Federal reserve banks,
through the mem¬
bers of the local bank, down to
every borrower in the land.
This would
come without the assistance of
the reserve or local
opposition.
currency committee of the National Association
of
Is convinced that the
spirit of the proposed Act is
The framers of the bill
could not foresee all the situations
.
constructive.
A denunciation of the bill emanated
from Senator Norris of
Nebraska on the 5th inst.; his views
by the "Tribune"
banking and
Credit Men
troller of the Currency.
Reserve Board provided for under the bill
\
Changes in the pending
currency bill advocated by the
National Association
pf Credit Men were made public on
inflation," it is curious to
note that Senator Hitchcock, in bis
plea for delay, finds himself in exact
accord with the two Republican
members of his committee who attached
their signatures to the Aldrich
banking.
xcvii.
by deposit with the Treasurer
of the United States at theend of nine months
the rate of tax shall
be increased to 7%
per annum
and after twelve
months the
Comptroller of the Currency shall order the
retirement of such notes.
Nebraska Senator furnishes
"powers
[Vol.
as
If the Government desires to go into the
railroad
business, it should buy
build its own roads by taxation
generally imposed.
If it intends to go
into the banking business, it should raise the
necessary capital by general
taxation.
It would be abhorrent to a sense of
justice and equity, for in¬
or
stance, if the Government in time of peace should
compel the mercantile
marine trade to contribute all the capital and bear all
the expense of build¬
ing up and operating a great navy or suffer the p&in of
forfeited charters.
Jt would be equally unjust if it should provide for the institution
and expense
of a Department of Justice by a
compulsory assessment levied exclusively
upon lawyers.
,
Oct.
The establishment of
justice between man and man, the protection of
the citizen's life and property
domestic peace,
from foreign foes, and the maintenance of
not a function of
reservoirs and their distri¬
the purposes of commerce is
corporations] for
bution to Individuals and
This function may have been exer¬
civilized government.
small, autocratic governments in former times,
cised by feudal lords and
other functions, make up the dreams of present-day
and it, and numerous
socialists; but past experience
and present ideas of individual right and re¬
sponsibility reject them as unsound.
Furthermore, capital (which is merely stored-up labor or products, or
in a manner that jeppardizes prin¬
physical human labor can be forced into
hazardous without hope of adequate reward, or when
authorized to make settlement of all claims against the
masters may be
Postal Savings System;
depositor dies without designating a beneficiary, payment of
"That if a
The ac¬
natural functions of civilized government.
are
cumulation of financial credits into convenient
990
CHRONICLE
THE
111913.)
the amount due the
does not
of the amount due may be authorized, after the funeral
death, payment
expenses
widower: second, if the decedent left no widow
widower, then to the children or their issue, per stirpes; third, if there
no widow or widower or descendants, then to the father; fourth, if there
no widow or widower, children or their issue, or father, then to the
or
be
employments that are
there is a choice of rewards in other employments that are safer and more
be
exception is in times of extreme national peril.
Therefore, if Congress insists upon forcing the national banks to furnish
father or mother,
only
control) for its banking experi¬
capital seek other fields that offer
capital (and at the same time relinquish all
ment, it will not bo surprising to see
inviting terms.
more
tf'}"'.'''
■
;V-'.:
•
•
•
"
.
,
—4
—'
jv;
/"'y"V:
L/V
and has the following to say:
children or their issue,
cendants, then to the
upon
the bill,
•
before the Senate,
looking into it closely, refusing to be hurried in
We have yet to hear of an
form by any important
commercial body or by either a national or a State bank—the one to be a
subscriber by compulsion and the other voluntarily.
Only this week the
unqualified endorsement of the bill in its present
organization of 17,000 jobbers and
the bill must be amended before
manufacturers, has gone on record that
it is
workable business proposition.
a
The two storm centres are around
the possibilities of the Reserve Board
chine, and the idea of compulsory subscription of
under
Government charter which did not
a
powerful political ma¬
private capital operating
the instrumentality of building up a
of seven, being
contemplate such when issued.
that future Presidential appointments to
It has been argued in the " Outlook"
shall be a man of tested banking experi¬
the Reserve Board, "one of whom
political chance, happens to
occupy the White House,,and we are pointed to the Supreme Court of the
United States as an example of the proper use of this appointive power.
The cases are hardly parallel, as appointments to the Supreme Court are not
made from the medical profession nor from business men, but from lawyers.
National banks welcome the most searching Governmental regulation, but
ence,"
can
businesslike management.
-
nearest
The nomination
,':\'
R. Newton of New York as
confirmed by the Senate on Sept. 29.
took office .on the 1st inst.
Allen, resigned,
On
•
the Treasury, to succeed Shefman P.
Assistant Secretary of
Mr. Newton
r:'i'
»——1
of Byron
was
KV
—♦
Sept. 27 the House of Representatives passed the
by the temporary transfer of district judges from
The bill, which has
referred to in
bill
other cir¬
already passed the Senate, was
issue of Sept. 2.0.
our
child of the deceased depositor, shall be allowed to
take in his or her own
right.
depositor was an alien, payment of the amount duo
"That if the deceased
authorized to the representative of the nation of which the de¬
positor was a subject;
: ■ aYY; -YY:
YY-a-YYi. V.,
be
may
"That in case a
depositor is adjudged mentally incompetent by
competent jurisdiction, payment
respectively, failed to fully consider the fact
and the Board of Trustees,
that the States have the
right to and do regulate descents and the method *
by which property may
be disposed of otherwise than as provided in the
Y.'Y".
various statutues of descents. ;
Deposits in postal savings depositaries are deposits of moneys which
belong absolutely to the
depositor while in life, become assets of his estate
wise subject to disposition at the hands of the
after death and are in no
Government
is sometimes the case with gratuities in connection with
as
which the Government as the donor may regulate the conditions and dis¬
position of the gift.
Regulations which assume to dispose of deposits after a depositor's death
can serve no
good purpose if they are simply a repetition of the laws of the
bind
without legal effect either to
are
or
if in conflict therewith they
protect anyone.
of property in
of intestacy and they also,
a
testator,
The bill
appropriation,bill.
and in every case the rights of creditors are protected.
It could serve no good purpose to
indulge in
a
lengthy discussion of the
regulations in question for the purpose of elaborating the specific objec¬
In the first paragraph, for instance, there seems to be an
attempt to provide for the payment
of funeral expenses either out of de¬
posits or in some other way, just which is not clear, but the fact Is over¬
looked that in some States expenses of last sickness are coupled with funeral
expenses as
In the face of such a statutory provision
preferred claim.
a
what right has the
Board of Trustees to say funeral expenses shall be paid
deposits shall be exempt from payment of expenses of last sickness?
but
But aside from matters of detail, the regulations assume that a depositor
deficiency
as
it passed the House on Sept. 9
abolished the United States Commerce Court and
its judges out
legislated
of office.
It was, however, amended in the
retaining the Commerce Court judges
Senate to the extent of
the general
on
ments.
•
bench for circuit and district court assign¬
The bill is
now
in conference.
'
;
method of testamentary
dispositidn of his property not recognized by existing law and at the same
time not only
defeat the claims of creditors but avoid the provisions of the
statutes of descents of his State.
without
dies
depositor
designating
may
a
beneficiary, payment of the amount due the
designated
opinion respecting regulations adopted in
conflict therewith they are
with relation thereto, and if in
without
legal effect either to bind
the
protect any one."
his view that "balances to
He accordingly expresses it as
the credit of deceased
or
depositors
may
beneficiary payment must be made to the
a
would
an executor
is named and
is entitled to the custody of the
Deposits would be assets of the estate subject to be adminis¬
likely result in
their payment to a "designated beneficiary"
second payment having to be made.
a
But it Is unnecessary
found to the proposed,
to elaborate the various
objections that
may
be
It is, of course, desirable that there be "a
plan.
just, speedy and inexpensive method" of settling the affairs of dead men,
but
in my judgment your Board
of Trustees cannot provide it where It
cbnflicts in any wise with the laws of the
I
cannot see
have
the necessity of
it is self evident that in that case the regulation!
different States must differ as the laws of the States differ.
provided, especially
for the
States and if in accord therewith
duplicating by regulations what the States
as
,
Specifically answering
your
question, it. follows from what I have said
that payment of balances to the
credit of deceased depositors may be made
pursuant to the proposed regulations only in cases where the regulations,
under'-the facts,
and them not by virtue
of the regulations but by virtue of the law.
Instructions to postmasters
at
least, would
myself to
your
pf the domicile of the depositor],
coincide with the laws
serve
your
might be prepared which, tp some extent;
purposes,
but my present duty is to address
question and not to volunteer suggestions.
Respectfully,
be made pursuant to
proposed regulations only in cases where the
If
designated beneficiary and not to an executor.
tered in the regular way and
an
'
be made to the executor", &c., meaning, infer en tially, that
if the depositor
entire estate.
In
/»
,
regulations it is provided that "if a depositor
In the second clause of the
letters testamentary are issued to him he
February
governing the disposition of the savings of a deceased de¬
positor in postal savings banks,.George E. Downey, Comp¬
troller of the Treasury, has virtually decided that the'Federal
Government has no jurisdiction in the matter—that it isi
entirely within control of the State.
Comptroller Downey
in passing on the question under consideration says that:
"Regulations which assume to dispose of deposits after a
depositor's death can serve no
good purpose if they are
simply a repetition of the laws of the depositor's domicile
■
case
in many instances, at least, limit the power of
for example those States which protect a widow against
as
disinheritance,
'
the 4th inst. passed the urgent
on
:
The statutes of all the States regulate the descent
by "designating a beneficiary" may create a new
The Senate
a court
of the amount due may be authorized
to the person or persons appointed to act in his behalf."
The regulations in question seem to have been prepared pursuant to an
opinion of the former Attorney-General, but I am inclined to think that in
the preparation of that opinion and of the regulation the Attorney-General
of
tions to them.
designed to relieve congestion in the New York Federal court
cuits.
of precedence, there shall be no distinction
blood and the half blood, and no posthumous relative,
depositor's domicile with relation thereto, and
V
*
-
■
corporation from which they
improper and un¬
5% if earned, without any power to correct
to receive
then to the uncles and aunts and their des,
in other cases without end, passing to
lineal ancestors and their descendants, in equal parts.
In
except a posthumous
safely be left to that man who, by
object to subscribing 20% of their capital to a
are
grandparents; seventh, if there be no widow or widower,
father or mother, brothers or sisters or their des¬
following the foregoing order
this important measure.
National Association of Credit Men, an
father or mother, brothers or sisters or their des¬
cendants, in equal parts; and so on
between the whole
having passed the House, is now
The currency bill,
its consideration of
stirpes; sixth, if there be no widow or widower,
brothers and sisters, per
the
adversely
ber Trade Letter also comments
which body insists upon
then to the brothers and sisters and children of deceased
cendants, or grandparents,
Banlrof Louisville, Ky., in its Octo¬
The Union National
widower, children or their issue,
if there be no widow or
mother; fifth,
children or their issue,
,
'0
following order of precedence.
have been paid, in the
"First, to the widow or
cipal and interest, any more than
The
after the death of the
beneficiary named dies prior to the date of the depositor's
apply for the amount due within one year
depositor, or if the
both) cannot be forced to employ itself
profitable.'
depositor may be made to the executor if one is named,
provided that certified copies of the letters testamentary are furnished;
That if no beneficiary has been designated or if the beneficiary named
E. DOWNEY, "
Comptroller of the Treasury.
GEO.
regulations
♦
under the facts,
coincide with the laws of the domicile of
depositor and then not by virtue of the regulations but
the
His opinion is conveyed to the Post¬
General in the following communication:
by virtue of the law."
master
TREASURY
'
June
The
Postmaster
7
1913.
1913 for decision whether payment o
postal savings deposi¬
resolution adopted by
Board of Trustees February 28 1913 and incorporated into, the postal
tories may lawfully be made in accordance with a
savings
of
on
regulations,
"Resolved,
the event of
as
follows:
^
favor,In
his death and after thp payment of his funeral .expenses, post¬
That
a
depositor may
the
Investment
on
the
designate a person in whose
Bankers'
Among the speakers who will have
program are
James J. Hill of St.
Paul, Minnesota, former President of the Great Northern
Future";
balances to the credit of deceased depositors in the
the
Association
America, to be held at the Blackstone Hotel, Chicago,
Railroad, who will speak
General.
:
I have your request of May 26
rapidly going forward for the second annua
of
prominent places
Washington,
The Honorable
Sir
are
October 28, 29 and 30.
DEPARTMENT,
.
Plans
convention
Samuel
on
"Railroad Financing of the
Insull, President of the Commonwealth
Edison Co. of Chicago, who
will speak
on
"Electrical Financ¬
ing;" Edmund D. Fisher, Deputy Comptroller of the City
of
New
York,
who will give
an
address
on
"Municipal
Financing"; Prof. Wm. A Scott, Director of the School of
Commerce, University of Wisconsin,
on
"Investment
versus
1000
THE
Commercial
CHRONICLE
[Vol.
time President of the Columbia National
Bank.
Banking"; George M. Reynolds, President of
xcyii.
The
con¬
the Continental & Commercial National Bank of Chicago;
J. Laurence Laughlin of the University of Chicago; a repre¬
solidation is to take place at the time of
entering the new
building, which has been under construction at Main, Seneca
sentative of the United States Post Office Department, and
others soon to be announced.
occur
Edward Reeve Merritt has retired
and
streets for the past year, and will probably
before the first of January.
It was further decided
to increase the
capital stock of the Marine National Bank
Vice-President of the
as
,
Union Trust Co. of this city, after forty-four
years'
connec¬
tion with the institution.
made
a
Mr. Merritt
was
Vice-
President of the company in 1906, and had been in charge
of its Fifth Avenue branch at 425 Fifth Avenue, corner
38th
Street,
since the latter's opening in that
He
year.
had previously been an Assistant
Secretary.
C. W. Parson,
Assistant Manager of the Plaza branch of the Union Trust
Co., at 786 Fifth Avenue,
corner
60th Street, has been made
an
Assistant Secretary of the institution and has been placed
in
charge of the Fifth Avenue branch.
The stockholders of the Corn Exchange Bank of this city
on
Thursday ratified the directors' recommendation for the
absorption of the business of the Mount Morris Bank
125th Street, Harlem.
branch of the Corn
dent L. M.
The latter's offices will be used
Exchange Bank, beginning to-day.
on
as a
Presi¬
Schwan of the Mount Morris Bank will with¬
draw, but the working staff will be retained under the
new
The stock of the Mount Morris Bank
was
management.
taken
over
at $270 a
share; it is stated, that it has
ated book value of $240 per share.
'
an
estima-
..
•
♦
.
The Public
■
■
Bank, Delancey and Ludlow Streets, this city,
Washington
from $2,000,000 to $2,500,000
through the sale of $500,000
of
stock
new
at $325 per share,
bringing the capital, surplus
undivided profits to practically the sa tie figures as the
Columbia National Bank,
namely: Capital, $2,500,000;
surplus, $2,500,000, and undivided profits, $200,000.
In
and
conformity with the above plans,
Oct. 1 the capital and
on
surplus of the Marine National Bank
000,000 and the dividend
rate
increased to $5,-
were
raised from 12% to 16%
was
per annum, a
quarterly dividend of 4% being declared on
outstanding Sept. 30.
At the time of merging, the
capital of the Marine National Bank will be further increased
stock
to
$5,000,000 through the exchange, share for share, of the
Columbia National Bank stock for a like amount of Marine
National Bank stock, thus
giving the shareholders of the
Columbia National Bank a like interest in the Marine
National Bank.
Consequently, of
will be for sale.
After this
that increase
stock
no
exchange of stock the Marine
National Bank will show:
Capital, $5,000,000; surplus,
$5,000,000; undivided profits, $500,000. a Since the election
of Messrs. Knox and Rand to official
positions with the Ma¬
rine National Bank, the
000 and
are
deposits have increased by $2,000,running the highest in the history of the
now
bank.
will shortly open a branch on the south west corner of Broad¬
At
and 26th St. in the St. James Building.
way
Louis Windmuller, prominent as a merchant, banker and
philanthropist / died at his home
Mr. Windmuller
N. Y.
seventy-eight y ears ago.
and after
a
few years
of Windmuller &
founders and
this
city,
an
the 1st in st ./in Woodside,
born in
was
He
on
came
Westphalia, Germany,
to this country when a boy
became head of the commission firm
Roelker, 20 Reade. St.
He
was one
of the
Secretary of the Title Guarantee & Trust Co. of
organizer of the Maiden Lane Savings Bank, and
the Maiden Lane. Safe
Deposit Co.
He
also identified
was
with the early organization of the German-American Insur¬
ance
&
Co., German Alliance Insurance Co. and the old Hide
Leather National Bank.
terests in the three
His public
and charitable in¬
boroughs of this city
a
meeting held this week the directors of the Philadelphia
Deposit & Insurance Co. of Philadelphia, elected
Trust Safe
well known.
are
John
Story Jenks, Vice-President and Henry G. Brengle,
Vice-President and
Assistant
to
Trust
Officer,
and
Ellwood
Frame,
Secretary.
Mr.
was previously Treasurer.
The company's capital
$1,000,000, surplus $4,000,000, with main offices at 415
Chestnut St. and its Broad Street office at 1415 Chestnut St.
M. M. White, for many years the well-known head of the
Fourth National Bank of Cincinnati, died in that
city on
Sept. 30 at the
of the Fourth
dency
of 83
age
on
Mr. White became Cashier
years.
Aug. 7 1872 and
Dec.
on
13
1875.
promoted to the presi¬
was
In
he
1908
resigned
from
the active management of the bank, becoming Chairman of
the board of directors.He took an active part in the Ameri¬
can
executive
Bankers'
and the
>
T.
Brengle
is
the company's offices at 54 Wall St., which when
will increase the public space.
Edmund D. Scholey was.
Vice-President, Nelson C. Denny,
the
Jenks had been acting as Vice-President
pro tern and Mr.
The Central Trust Co. of this city is making extensive
alterations to its main banking room on the second floor of
finished,
Treasurer.
made
Association, serving
council;
following
in
1892
he
for
was
many
elected
years
on
its
Vice-President
became President of the Association.
year
Mr.
Albert Tag
has been elected President of the German-
American Bank of this
Tag, who died
city to succeed his brother, Casimir
Sept. 21.
on
ing-House Association.
Out of respect to
Cincinnati Stock Exchange closed
his funeral on the 2d inst.
■
.
White had also formerly been President of the Ohio
Bankers' Association and President of the Cincinnati Clear-.
his
memory
the
during the afternoon of
Benjamin Altman, head of the dry. goods'firm of B. Altman
&
Co;
and
a
director in the Bank of the Metropolis
and the Astor Trust, Co. of this city, died on the 7tH inst.
at the age of seventy-three years.
Mr. Altman was also a
trustee
of the
Garfield Safe Deposit Co.
cated, in these columns Aug. 23, $300,000 of the
';//;■
—"♦—-
.-A
Edgar McDonald, President of the Nassau National Bank
of
Brooklyn, completed the fiftieth anniversary of his
vices with that institution
on
October 1st.
Approval was given by the stockholders of the Detroit
Savings Bank of Detroit on Oct. 2 to the plan whereby the
capital is to be increased from $400,000 to $750,00Q.
As indi¬
ser¬
Mr. McDonald
is offered to the
existing shareholders at $150
per
new
stock
$100 share,
while the remaining $50,000 will be disposed of by the trus¬
tees
to new
interests
at
$225
per
share.
Particulars
concerning the
new
entered the employ of the bank on October 1 1863 and worked
his way upward from,office-boy to discount
number of
paper.
Vice-President
to increase the capital of the American
Chicago from $200,000 to $400,000 was rati¬
fied by the stockholders on September 24.
While increasing
clerk, Cashier,
and
of the bank at
congratulations
a
President.
The,directors
and
officers
recent
upon
meeting extended by telegraph "their
the anniversary of your fifty years of
faithful service in this bank and
speedy wishes for the speedy
and
complete
now
at East
recovery
of
your
Northfield, Mass.,
health".
on a
Mr. McDonald is
The
proposal
the capital, it is proposed to reduce the surplus from $150,000
to
Lee,
son
of John Clarke Lee,
one
of the founders
of the banking house of Lee, Higginson &
Co., of Boston,
New York and Chicago, died at his home in
Salem, Mass.,
last Tuesday night, aged
seventy-seven
At
a
years.
the
meeting of the directors of the Marine National Bank
on Aug. 28 it was decided to
take over the business
Columbia
National
Bank.
The
President
of
the
Marine National Bank, S. H. Knox, is Vice-President of
the
Columbia National Bank, and the Vice-President of the
Marine National Bank, George F. Rand, is at the
present
new
share;
as a
cash dividend of 75% will be declared
by the directors out of the surplus and profits
ment
for the
as
part pay¬
stock, the shareholders will actually
share for their additional interest.
$50
a
will
pay
but
be lodged
The other 40%
with five trustees, who will dispose of it in
share.
' >"•
v
/
—♦—
v .v,. ■■;■■■^
m
A permit for the organization of the Tuma State
Savings
their discretion at $175 per
of Buffalo
of
Under the plans approved by the stockholders,
stock will be offered to the present holders
$100,000.
at $125 per
Francis H.
stock issue will be found in the Aug. 23
State Bank of
60% of the
vacation.
our
Bank of
Chicago (capital $100,000) has been issued
Tuma; J. F. Zarobsky and Frank Collins.
is to succeed to the
Savings Bank.
to Josef
The institution
private banking business of the Tuma
»
■
—♦
1
•
\
Oct.
Colonial Trust & Savings
The
Bank, Chicago, paid on
capital of
$1,000,000.
This is the equivalent of the old rate of 2^%
on the original
capital of $600,000. The directors of the
bank announce their intention to make the quarterly dis¬
October 1
tribution 2%
[From Our Own
Somewhat
land
UNFILLED ORDERS OF STEEL CORPORATION.—
United States Steel Corporation on9 Friday, Oct. 10,
monthly statement showing the unfilled
subsidiary corporations at the
close of September.
From this statement it appears that the
aggregate of the unfilled orders on Sept. 33 was 5,003,785
tons, 219,683 tons less than on Aug. 31.
In the following
we give the comparisons with previous months.
issued its regular
the books of the
on
Sept. 30 1913
5,003,785
Aug. 31 1913...5,223,468
1913...5,399,356
31
July
July
May
1913...6,978,762
April 30
29
Feb.
28
31
Jan.
31
31
1913...7,468,956 Feb.
1913...7,656,714 Jan.
1913...7,827,368 Dec.
31 1912...7,932,164 Nov.
30 1912...7,852,883 Oct.
31 1912...7,594,381 Sept.
Dec.
Nov.
Oct.
1912...6,551,507
Sept. 30
30
31
During the week which began with Saturday of last week
and ending last night the total amount of gold taken by Egypt
from the Bank of England was two millions sterling, making
1911...3,400,543
31 1911...3,110,919
31 1910...2,674,750
30 1910...2,760,413
31 1910...2,871,949
28
Aug.
30 1910...3,158,106
31 1910...3,537,128
July
30 1911...3,611,317
31 1911...3,695,985
Aug.
1911...3,361,058
1912...5,304,S41 Feb.
1912...5,454,200 Jan.
1912...5,379,721 Dec.
1911...5,084,761 Nov.
1911—4,141,955 Oct.
1911...3,694,328 Sept.
Mar. 31
Mar. 31
1911...3,584,085
30
31
1910...3,970,931
unfilled orders were issued
only quarterly.
In the following we show the totals at the
end of each quarter or period for which the figures were made
public, back to the organization of the Steel Company.
31 1910 reports of
Prior to July
Mar. 31
1910.
31
1909.
Dec.
Sept. 30 1909.
30
June
Mar.
1909.
31
1909.
31
1908.
Sept. 30
1908.
Dec.
30
1908.
Mar. 31
1908.
31
1907.
June
Dec.
Sept. 30 1907.
*
Tons.
Tons.
Tons,
1910.
30
June
..4,257,794 June 30
..5,402,514 Mar. 31
..5,927,031 Dec. 31
..4,796,833 Sept. 30
..4,057,939 June 30
..3,542,595 Mar. 31
..3,603,527 Dec. 31
..3,421,977 Sept. 30
..3,313,876 June 30
..3,765,343 Mar. 31
..4,624,553 Dec. 31
.*6,425,008 Sept. 30
1907. .*7,603,S78
June
30
1904 .,*3,192,277
1907. 1*8,043,858
Mar.
31
1904 ..*4,136,961
Dec.
31
1903 ..*3,215,123
1906. .*7,936,884
Sept. 30
1903 ..*3,728,742
1906. .*6,809,589
June
30
1903 ..♦4,666,578
.*7,018,712
Mar.
31
1903 ..*5,410,719
1905. .*7,605,086
Dec.
31
1902 ..*5,347,253
.*5,8(>5,377
1905. .*4,829,655
Sept. 30
1902 ..*4,843,007
June
30
1902 ..*4,791,993
1905. .*5,597,560
Dec.
31
1901
1904. .*4,696,203
Nov.
1906.
1906.
.*8,489,718
1905.
1
..*4,497,749
1901 ..*2,831,692
1904. .*3,027,436
31 1907 are on the old basis.
Under the present
received from sources outside of the company's own interests
30 1904, shown above as 3,027,436 tons, the
basis, would, it is stated, be 2,434,736 tons on that now employed.
The
figures prior to Dec.
method only orders
are
shown.
former
The amount as of Sept.
PRODUCTION.—The anthra¬
tidewater during September reached
5,572,279 tons, being a decrease of 304,217 tons from Sep¬
tember 1912.
In the following we show the shipments by
the various carriers for the months of September 1913 and
1912 and for the period from Jan. 1 to Sept. 30.
ANTHRACITE
COAL
cite coal shipments to
-Jan. 1 to
—•—September
1913.
1912.
•
Road—
—5,572,279 5,876,496 51,281,885
I
521,741
669,364
222,086
-
Ontario & Western.
—
withdrawals for that country this season £6,020,demand began this season about a fortnight
earlier than usual, and it has proceeded so far at an unprece¬
dented! y great rate.
It is quite possible that it may now
abate very much for in fact Egypt has taken at present
practically as much as she took in the whole season last year.
In any event, the rise in the Bank rate here will very little
affect the Egyptian demand; and the Directors of the Bank
cannot have expected that it would.
But, as already said,
it may affect other demands, and particularly it may have
a powerful influence upon the German demand.
Germany has added from the last day of last year to the
last day of September £18,313,900 to her gold holding, an
amount that nobody would have believed possible a little
while ago.
But she has quite as much now as she requires
for the present, and it clearly is not to her interest to compel the
Bank of England to put up its rate to 6%.
Almost certainly
that would be followed by a rise in the rate of the Bank of
France; and then, instead of reducing its own rate, the Reichsbank might be compelled to raise its rate to 7%.
In all
reasonable probability, then, the German demand will
subside; the Brazilian arrangements will be put off, and the
Argentine demand will be delayed,
v.
The stock* markets continue dull and inactive.
Confi¬
dence is slowly reviving.
The holidays are now practically
ended.Great numbers of persons are flocking back to the
City.
In a very short time we may epect to see the normal
course of .business resumed.
Then, unless something un¬
foreseen happens, confidence will be strengthened and busi¬
ness will become more active.
The India Council offered for tender on Wednesday 120
lacs of its bills and telegraphic transfers, and the applica¬
tions amounted to 798 lacs at prices ranging from Is. 4 l-16d.
the total
683,026
212,125
CONSUMPTION —On
Wednesday of this week the September statement of the
Copper Producers' Association was issued, showing a de¬
crease in the stock of marketable copper on hand of 8,520,943
lbs.
Production was over 8,500,000 lbs. less than in the
corresponding month last year.
In the following we com¬
pare the various items for the month of September 1913 and
1912 and also for the period Jan. 1 to Sept. 30.
We also add
figures to indicate the European visible supply.
COPPER PRODUCTION AND
—:
September—;
"——Jan. 1
1912.
.1913.
beginning
period
lbs. 38,314,037
Production—--131,401,229
1913.
to Sept. 30
1912.
Stocks
89,454,695
.169,715,266 186,791,193 .1,315,704,801
Total supply
..
1,247,920,047
.
—— —
•
66,836,897
63,460,810
628,582,612
607,699,696
73,085,275
60,264,796.
657,329,095
577,154,764
139,922,172 123,725,606
29,793,094
63,065,587
European visible supply—
Beginning period. 59,440,640 102,291,840
End of period—— 58,718,720
99,093,120
Stocks end of.period
LAKE
105,312,582
1,158,465,352
Deliveries for—
Domestic consum.
Exports
46,701,374
140,089,819 1,210,392,219
—
SUPERIOR
IRON
ORE
1,285,911,707 1,184,854,460
29,793,094
63,065,587
90,451,200
58,718,720
128,313,920
99,093,120
SHIPMENTS.—The
Superior Iron Ore shipments for September 1913 were
7,258,413 tons, against 7,287,230 tons in September 1912.
In the following we show the shipments from the various
Lake
ports in September of the last
from January 1:
three years and for the
1913.
673,591
Marquette
418,242
Ashland
485,174
Port
(.tons)—
\
1912.
period
To October 1-
-SeptemberEscanaba
1911.
1913.
1912.
1911.
770,974
566,178
757,764
2,031,086
1,652,735
1,508,493
4,010,985
4,297,223
2,567,578
2,573,604
3,623,161
3,558,802
10,810,391 11,097,276
,563,836
9,830,726
7,729,187
,131,247
8,194,738
7,310,195
,130,482
3,086,847
t Total-.---—7,258,413 7,287,230
5,231,069 39,265,484 36,338,382
24,837,137
Superior
—
2,224,553
1,938,823
Harbors...1,518,030
Dulutb
Two
668,595
367,964
368,945
The
000.
44,835,219
835,316
579,792
533,439
Pennsylvania
Total
1912.
8,950,472
8,287,807
5,830,831
6,354,946
4,536,977
3,948,019
5,303,084
1,623,083
888,060 1,184,594
1,168,649
691,253
Philadelphia & Reading..tons.
Lehigh Valley
1,031,876
Central RR. of New Jersey..-.
788,038
Delaware Lack. & Western
834,345
Delaware & Hudson.
...
605,071
Erie
Sept. 30—
-1913.
9,504,550
9,671,928
6,795,406
7,357,984
5,303,075
4,610,332
6,119,302
1,919,308
metal.
much of the
31 1911...3,113,187
Arril 30 1911.__3,218,704
Mar. 31 1911...3,447,301
1912...5,750,983
30 1913...5,807,317
31 1913...6,324,322 April 30 1912...5,664,885
June
It speaks well for the judgment of the present
allowed. It is not likely,
indeed, that the change will prevent gold going to Egypt,
for the Egyptian cotton crop must be moved.
But in all
probability it will delay, if it does not entirely prevent, the
Russian demand.
For Russia cannot well afford to make
money both dear and scarce in London and Paris.
It also
probably will prevent efforts on the part of Brazil to take
gold from London.
There has been much talk of late that
these efforts would be made.
But the change this week
intimates that if necessary the rate will be put up high
enough to make it an exceedingly costly thing to take very
May
31
May
31
June
1912
5,957,079
1912...5,807,346
30
June
6.163,375
1912
Aug. 31
July 31
discount from 4 3^%
quite so soon.
Tons.
Tons.
.
Tons.
1'
unexpectedly the Directors of the Bank of Eng¬
Thursday raised their rate of
on
administration that no delay was
a vacancy.
The
orders
/
There had been some talk among bankers for a day
or two previously that the change might be made, since the
demand for gold for foreign countries was assuming such
large proportions.
But few expected that it would be made
TRAFFIC MOVEMENTS.
AND
TRADE
fill
,
to 5%.
of the Illinois Commercial
Savings Bank of Chicago to
Correspondent.]
London, Saturday, Oct. 4 1913.
been elected a director of the Standard
Men's Association, has
Trust &
*
beginning with January 1914.
A. Cavanaugh, Secretary
R.
|nouctarul©omntcrciatEttotisTx|ljeurs
quarterly dividend of llA% on the new
a
1001
CHRONICLE
THE
.111913.]
1,568,711
1,878,786
7,946,109
5,501,364
4,855,320
Is. 43^d. per rupee.
to
Applicants for bills at
ls.43-32d.
telegraphic transfers at Is. 4^d. per rupee were
allotted 75% of the amounts applied for,
v
>
' r-
and
for
English Financial Markets—Per Cable.
daily closing quotations for seeurities, &c., at London,
reported by cable, have been as follows the past week:
The
as
London,
10.
Week ending Oct.
d Consols,
.
Sat.
—.d. 28 5-16
73 $*
Silver, peroz
2$* per centa
d For account
d French Rentes (in Paris)
73$*
fr. 87.75
Amalgamated Copper Co.,.- 78$*
Am. Smelt. & Refining—.. 68!*
& Anaconda Mining Co..—
7$*
97$*
.102
Atch. TopekaA Santa Fe...
Preferred...
Baltimore & Ohio
Preferred
Canadian
..—
97'
83
-240$*
Pacific
60$*
Chicago Great Western
14
Chicago Milw. & St. Paul-107$*
Chesapeake <fc Ohio—
Denver & Rio Grande——
Preferred
e—
—
Erie
First
.
19$*
34
30
47$*
preferred..
preferred..
38
130
Illinois Central...
113$*
Louisville & Nashville.
139$*
Missouri Kansas & Texas... 21$*
,
Second
—
Great Northern, preferred..
57
Preferred
Missouri Pacific
31
lstpref- 42
Mon.
28$*
73 1-16
73 5-16
87.45
76$* .
67$*
7%
96$*
102
96$*
83
239$*
60
14
107
19
34
29$*
47
38
130$*
113$*
139
21$*
57
30$*
Tues.
Wed.
28$*
28$*
72 15-16 72$*
73 3-16 73$*
87.45
88.12J*
77%
76$*
67$*
67$*
7%
7%
96$*
96$*
102
102
97
96$*
83
83
240$*
239$*
60
59$*
« 14
14 (,
105$*
105$*
18$*
18$*
33$*
33$*
29$*
29$*
46$*
46$*
38
38
130
130
• '
112$*
112$*
139
138$*
21$*
21$*
58
58
30
30
43
43
14$*
14$*
98$*
98$*
29$*
29$*
107
106J*
Tburs.
28$*
72 $*
Fri.
28$*
72 7-16
72$*
7211-16
87.87$* 87.92$*
75$*
74$*
,67
7$*
66$*
7$*
96$*
102 \
96$*
96$*
102 ...
97 ■
82
237$*
59
83
238$*
59
13$*
104$*
18$*
33$*
29
45$*
37$*
129$*
112
138
21
58
29$*
13 a
104$*
18$*
33$*
28$*
45
37
129$*
112
138
20$*
.
58
30
43
13$*
98
29$*
107
---87
115
114$*
114$*
114
114$*
57 % 58
57$*
57$*
57$*
a Reading
Company
85$*
85$*
85$*
85$*
84$*
84$*
a First preferred
44$*
44$*
44
44$*
44$*
43$*
Second preferred
47
—47
Rock
Island...
15
14$*
14$*
14$*
14
14
Southern Pacific....
93$*
93
93
92$*
92
92
Southern Railway
23$*
23$*
23$*
23
22$*
22$*
Preferred
82
82$*
82
82$*
82$*
82$*
Union Pacific
162$*
162$*
162$*
159$/*
158$*
157$*
Preferred
86$*
86$*
86
86
86
86
U. S. Steel Corporation
60$*
58$*
58$*
57$*
57$*
58$*
Preferred...—
Ill '
110$*
109$*
,109$*
108$*
109
Wabash
4$*
4$*
4$*
4$* 4$*
4
Preferred——
;. 11$*
11$*
10
10$*
10$*
10$*
Extended 4s
52
52
51
51
50$*
60$*
aPrice per share. 6 £ sterling. cEx-dlvid.end. ^Quotations bereglven are flat prices
Nat. RR.of Mex.,
Second
15$*
preferred..
98}*
N. Y. Ontario & Western... 30
Norfolk & Western
107$*
Preferred
87
Northern Pacific
115
a Pennsylvania
58
N. Y. Central & Hud. Riv„
...
—
a
——
.
—
.
—
42
15
98
29$*
107$*
43
14
98
29
106$*
1002
"
THE
CHRONICLE
©tfrarajevciat mxtf PTiscclIatimts l^cxxrs
aif ^ * ""H i*
* *1*1 Tiriii-ftVfirmvi
rifwirvh on n rn-irriryirirvvio n~i r>rn r> ~in rx rw~>
^
n.nn
Per
September 26.
:
■
10.451—The First National Bank of Paia, Hawaii.
Capital,
C. H. Cooke, President; C. D. Lufkin, Cashier.
$25,000.
Delaware Lack. & Western (quar.).,
Georgia RR. & Banking (quar.)..
Nov.
3
Oct.
15 Oct.
to
Oct.
Great Northern (quar.)
:
Kansas City Southern, pref. (quar.)
Minn. St. P. & S. S. M., com.&pf.(No.21)
3X
Oct.
15 Holders ot
rec.
IX
N. Y. Central & Hudson River (quar.)..
Norfolk & Western adj. pref. (quar.)
Oct.
15 Holders of
rec.
2
Holders of
Oct.
IX
IX
Nov.
IX
Oct.
Holders of
Holders of
Oct.
1
Oct.
1
9
31
Sept. 30a
Sept. 30a
rec.
rec,
to
Oct.
15
3 Holders of rec. Oct.
15
Sept.25a
rec.
Oct.
Oct.
7
to
3X
Nov.
Oct.
12
to
2
Oct.
Holders of
2X
Oct.
Holders of
Oct.
31
Sept. 30a
rec.
Sept. 30a
rec.
Nov.
1
Oct.
Holders'of
16
14
Oct.
rec.
to
FireproofIng, preferred (quar.).
17
Oct.
to
to
reo.
la
31
Oct.
rec.
Sept. 30a
Sept. 27a
Oct.
15
Nov. 16
rec.
Oct.
4
10
Oct.
Holders of
rec.
Sept. 25
2
Oct.
Holders of
rec.
Oct.
5
Oct.
Oct.
1
to
Oct.
17
2X
IX
Oct.
Oct.
1
to
Oct.
17
Oct.
...
la
Holders of rec. Sept. 30
IX
Oct.
Holders of
rec.
Sept. 30
2
Oct-
Holders of
rec.
Sept. 30
$2
Oct.
Holders of
rec.
Oct.
Sept. 30
Sept. 30
9a
IX
to
Oct.
15
Pennsylvania Salt Manufacturing (quar.)
3
Oct.
Holders of
rec.
Pittsburgh Coal, preferred (quar.)
Sept. 30a
15
IX
Oct.
Holders of
rec.
Oct.
15a
Oct.
15
Procter & Gamble, preferred (quar.)
2
Oct.
Sept. 21
Oct.
8
Oct.
15
Quaker Oats,
2X
IX
Oct.
Holders of
rec.
Oct.
Nov.
Holders of
rec.
Nov.
la
rec. Oct.
15 Holders of rec. Oct.
Oct.
15 Holders of
Oct.
rcc.
7
6a
Sept. 30a
Oct.
15 Oct.
Oct.
IX
3
Nov.
•
1
rec.
13 Holders of rec.
2X
2X
Oct,
Preferred
Jacksonville Traction, com., (qu.) (N.o. 11).
Preferred (quar.) (No. 11).....i.
3
Nov. 15 Oct.
IX
IX
Nov.
Kentucky
to
1 Holders of
Oct.
Second preferred (No. 12)
Havana Elec. Ry., Light A* Power, com
-
13 Holders of
Nov. 15 Oct.
to
26
to
Nov.
1
Nov.
1
rec.
15
la
20
Sept. 30
Southern Calif. Edison, pf. (qu.) (No. 17)
Southern New England Telephone(quar.)
Standard Milling, prelerred (No. 21)____
la
United Fruit (quar.)
United Fruit (extra)
United Gas Improvement (quar.).
U. S. Cast Iron Pipe.A Fdy., pref. (quar.)
Republic Ry. & Lt., pref. (quar.) (No. 9)
Rio de Janeiro Tram., L. & P. (quar.).__
Sao Paulo Tram., L. & P. (qu.) (Nd. 47)
Sierra Pac. Elec. Co., pref. (qu.) (No. 17)
United Rys. & Elec., Bait., com. (quar.).
Virginia Ry. & Power, common..
Oct.
IX
15 Holders of rec.' Oct.
Nov.
1 Holders of rec. Oct.
IX
2X» Nov.
1 Holders of rec. Oct.
Nov.
1 Holders of rec. Oct.
six
7a
Nov.
2
Nov.
2e
Oct.
15
Oct.
15
f rec.
Oct.
15
f rec.
Oct.
22
to-
Nov.
2
1 Oct.
29
to
Nov.
2
IX'
Nov.
Amer. Coal Products, pref. (quar.)..Amer. Gas & Elec,. pref (ou.) (No. 27)__
IX
IX
Oct.
2 X
Oct.
1
Oct.
Sept. 30
IX
2X
Oct.
Oct.
1
to
Oct.
Oct.
_
.
.
_
_
_
....
U. S.
Oct.
24
Oct.
31
Nov,
Oct.
16
to
Oct.
31
Oct.
1
to
Oct.
15
1
Nov.
Holders of
rem
Oct.
24a
2
Oct.
Holders of
rec.
Sept. 27a
2
Nov.
rec.
Oct.
Oct.
Holders of
rec.
Sept. 30a
Oct.
Holders of
rec.
Oct.
IX
IX
Oct.
Holders of
ree.
Oct.
8a
Oct.
Holders of
rec.
Oct.
15a
Oct.
Holders of
ree.
Oct.
15a
15a
IX
_
.
_
...
...
-
Holders of
to
1
Oct.
Holders of
20a
4a
Oct.
Holders of
rec.
Oct.
...
rem
Oct.
com. (qu.)
75c.
(quar.)
s....
87Hc.
Vacuum Oil. _: .1.
3
....—*.
Virginia Caro. Chem., pf. (qu.) (No. 72)
2
Western State3 Gas & Elec., pref. (quar.)
IX
Western Union Teleg. (quar.) (No. 178)..
X
Westinghouse Air Brake- (quar.
52
__
'
51
Smelt.,.Refg. & Mining,
Preferred
7
15
Oct.
Holders of
rec.
Sept. 30
Sept. 30
Oct.
...
Holders of
Oct.
rec.
Oct.
Holders of
rec.
Oct.
Holders Of
rec.
Oct.
15a
Sept. 30a
Sept. 30
Sept. 21
to
Oct.
Oct.
Holders of
rec.
Sept. 27
Oct.
Holders of rec. Sept. 30a
Holders of rec. Sept. 30a
IX
Oct.
IX
Dec.
Holders of
rec.
Worlhington (Henry R.), preferred.
3X
Nov.
liHolders of
rec.
4
1
8
'Nov.'
Oct.
Sa
20
15a
1
to
Nov.
30
to
Oct.
29
to
rec.
rec.
Sept. 26a
Oct.
Nov.
Holders of
Holders of
Sept. 26a
to
2xo Oct. .30
_
to
Oct.
Oct.
Westinghouse Elec. & Mfg., com. (quar.)
Preferred (quar.—...
Woolworth (F. IV.) Co., common (quar.)..
f rec. Oct.
15
;.
Second preferred (quar.)..
15
f rcc. Oct.
1
First preferred (quar.)
;
2
IX
2
U. S. Indus. Alcohol, pf. (quar.) (No. 28)
U. S. Rubber, common (quar.).
-
'•IX'
.......
1
15a
15 Holders of rec. Oct."
6a
20 Holders of rec. Oct.
6a
15 Oct.
8
to
Oct. 15
IX
(No. 57)
7a
15
IX
_
IX
IX
2X
la
15a
>
Taylor-Wharton Iron & Steel, pref. (qu.)
Union Natural Gas Corp. (quar.) (No. 41)
United Cigar Mfrs., common (quar.)
Holder^ of rec. Oct.
Nov.
1 Holders of rec. Oct.
Oct.
15 Holders of rec. Oct.
Oct. 15 Holders of rec. Oct.
$1X
.Amer. Light cfc Traction, com,, (quar.)
Common (payable in common stock).
Preferred (quar.).
^........„..
.
Holders of rec. Oct.
Public Service Invest., pf. (qu.) (No, 1S)_.
Pug. Sd■ Tr., Lt. Ac Pow., com, (qu.) (No.5)
Preferred (quar.) (No. 5)
--/.-i--
.
la
15
IX
(quar.) (No. 8)
to
15
Oct,
3
American Cigar, common (quar.).______
2
Oct.
Oct.
'....
Oct.
Oct.
15 a
15a
(quar.)'.
Securities Corporation General, pref.(qu.)
Shawinigan Water & Power (quar.).
Nov. 15
Sept. 30a
Nassau, Brooklyn (quar.).............
Oct.
2
15
1
15 Sept. 20.
to
Oct.
15 Holders of rec. Oct.
1
Oct.
Oct.
15 Holders of rec.
„.
to
rec.
15 Holders of rec.
Oct.
1
Holders of
31 Holders of
Oct.
Oct.
2
Oct.
Oct.
IX
IX
Oct.
2
■
4
Oct.
:
Nov,
Oct.
Oct.
(No. 15).
Nov.
rec
X
Oct.
Nov.
to
to
IX
(quar.)..
to
21
21
Holders of
IX
IX
50c.
21
Oct.
Oct.
Oct.
Massachusetts Consolidated Rys., com..
Milwaukee El. Ry. At Lt., pf. (qu.) (No. 56)
Ottumwa Ry & Light, preferred (quar.).
1
Oct.
Nov.
Nov.
1
Oct.
IX
Nov.
IX
IX
3
Oct,
.....
rec.
rec.
Reece Buttonhole Mach. (qu.) (No. 110).
IX
(quar.) (No. 128)
Holders of
Holders of
Rhode Island Perk. Horseshoe, pf. (qu.).
2
.
common
Oct.
Oct,
Sept. 20a
Sept. 20a
1 Holders of ree. Oct.
1 Holders of rec. Oct.
Nov.'
Preferred
1
IX
IX
Nov. 15
rec.
26
la
Securities Corp., pref. (quar.).
Manchester Trac., Lt. & Power (quar.)__
com.
Oct,
16
Pacific Coast Co., com. (quar.)
First preferred (quar.)
Second preferred (quar.)....
Pacific Teleg. & Telep., pref. (quar.)
Pennsylvania Lighting, preferred (quar.).
2".
(No. 33)
Oct.
Oct.
Oct.
Agrlc.'Chem.,
Nov.
IX
2X
IX
Oct.
Otis Elevator, common (quar.)...,.....
Preferred (quar.).-......^.w.i..*...
30 Holders of
IX
Preferred (quar.)
Oct.
rec,
Nov. 13 Holders of rec. Oct. 28a
15 Holders of rec. Sept; 30a
IX
Amer.
Oct.
to
Oct.
(qu.)
Miscellaneous.'
to
1
Holders of
5
Oct.
IX'
_■
Alliance Realty (quar.).....
22
Oct.
to
15a
(quar.)
Coiumbvs (O.) Ry., pref. (guar.) (No. 56).
Dallas Electric Corp., 1st pref. (No. 9)..
(quar.)
31
Oct.
Oct.
6
10a
.1
Preferred
Broadway
Oct.
Oct.
2X
Extra
31a
15 Holders of rec. Oct.
15 Oct., .8
Oct.
"to
15 Oct.
1
to
Oct.
West Penn Trac., pref. (quar.)
Trust Companies.
20a
5
Nov.
Street and Electric Railways.
com.
22
Oct.
3X
'
Warren
Auburn & Syracuse Elec. RR., pref. (qu.)
Boston Suburban Elec. Cos., pref. (quar.)
preferred
Oct.
rec,
1
—....
com.
Nov.
rec,
Holders of
2X
Southwestern, pref. (quar.)
Southern Railway, preferred
rec,
Holders of
Nov.
Oct.
2
Holders of
Nov.
Oct.
IX
common
2a
Nov.
Nlplasing Mines (quar.)........
Sept. 30a
Sept. 22a
Sept. 19a
Nov. 19 Holders of rec. Oct.
1 Holders of rec. Oct.
25 Holders of rec. Oct.
Oct.
Nov.
■
$1.25
Northern States Power, pref. (quar.)
Nova Scotia Steel & Coal,
Ltd., com. (qu)
Preferred (quar.)..
Osceola Consolidated Mining
(quar.).....
1
(qu.)
2
rec,
Holders of
IX
...
Pitts. Cin. Chic. & St. L., com.&pf.
1
Nov.
Holders of
Nov.
to
Nov.
Dec.
to
15
Oct.
National
rec.
to
Oct.
50c.
New York Transit......
Niagara Falls Power (quar.)
to
Nov. 15
Oct.
Oct.
23
18
Sept. 25a
Holders of
Dec.
Holders of
23
.
rec
Oct.
Nov.
Oct.
Oct.
Sept 20
Sept. 25a
IX
IX
IX
IX
Oct.
1 Oct.
rec,
Oct.
to
15 Holders of
Holders of
Holders of
7 Sept. 20
Nov.
40
Oct.
Oct.
7
Oct.
2
Oct.
Nov.
Nor.
IX
Nov.
rec,
3b
Nov.
1
to
16
IX
X
(No. 7)
2X
■
18
Oct.
Holders of
4
....
2
....
Oct.
Nov.
(quar.).
National Biscuit, com, (quar.) (No.
61)..
National Carbon, common (quar.)
National Carbon, preferred
(quar.)
14
31
50c.
Milwaukee A- Chic. Breweries, Ltd....
Mountain States Telep. & Teleg.
3a
2
,
15a
15a
Oct.
•
,..
20 Holders of rec. Oct.
rec
Oct.
Oct.
Oct.
.
to
Holders of
10
Oct.
.
,
IX
IX
2X
IX
X
Mexican Petroleum, preferred
(quar.)...
Mexican Telegraph (quar.)
1 Holders of rec. Oct. 31a
1 Oct. 21
to
Nov.
2
"'c: Oct.
Nov.
19
rec
1
Massachusetts Gas Cos., common (quar.)
Massachusetts Light'g Cos.(qu.) (No. 40)
Mexican Lt. Ac
Power, Ltd., com. (quar.)..
Preferred ..._....____._.,,
Days Inclusive.
Holders of
2H
Manufacturers' Light & Heat (quar.)..,.
Books Closed.
Dec.
2X
Books Closed.
Days Inclusive.
Oct.
$4
(quar.).
'
Payable.
3
l.
Grand Trunk, guaranteed stock.
First and second preference
Cumulative
Oct.
Preferred .(quar.)
When
IX
Cincinnati Sandusky <fc Cleveland, pref..
Philadelphia CO.,
Nov.
Miami Copper (quar.)
Atchison Topcka & Santa Fe, com.
(quar.).
Trac.,
1)4
Loose-Wiles Biscuit, 2d pref. (qu.) (No.6)
Mac Andrews &
Forbes, common
Railroads (Steam).
Cin, New. & Cov. Lt. &
rec
.
printed in italics.
Brooklyn City RR. (quar.)
rec
Holders of
Island Creek Coal, common
(quar.)
announced for the
future by large or important
corporations.
Dividends announced this week are
St. Louis
Holders of
Nov.
IX
Kayser (Julius) & Co., 1st & 2d pf. (qu.)
La Belle Iron Works, common
(quar.)...
La Rose Consolidated Mines
(quar.)
Lehigh Valley Coal Sales (quar.)
following shows all the dividends
Reading Company,
Nov.
75c.
International Paper, preferred
(quar.)....
Internat. Smokeless P
& C., pref....^.
DIVIDENDS.
Northern Pacific (quar.)
62 He
International Nickel, common
(quar.)
Preferred (quar.)...;
.
Cent.
Payable.
Preferred (No. 22)
Illinois Northern Utilities
(quar.)
Indiana Pipe Line (quar.)..
International Banking Corporation
Int. Buttonhole Sew.Mach.
(qu.) (No.64)
Inter. Harvester
Corp..corn.(qu.) (No. 3)
Inter.Harvester of N.J.,com.(qu.) (No. 15)
10.449—The First National Bank of Ripley, Tenn.
Capital,. $25,000.
pp.
V. P. Moriarty, President; R. M. Prichard, Cashier.
10.450—The First National Bank of Worlhington, W. Va.
Capital,
$30,000.
Z. F. Davis, President; A. J. McDaniel, Cashier.
Company.
Cent.
Miscellaneous (Concluded).
Harbison-Walker Refractories, pref.
(qu.).
Houghton Co. Elec. Lt., com.
(No. 17)....
CHARTERS ISSUED TO NATIONAL BANKS SEPT. 25 TO SEPT. 26.
September 25.
Name of
When
Name of Company.
Currency, Treasury Department:
Per
xgvii.
ruxonnrMyyyvvTAr^EV'infWYyyiHfiryvyvvviruvuw
National Banks.—The
following information regarding
national banks is from the office of the
Comptroller of the
The
[Vol.
15
2
Oct.
Oct.
30
to
Oct.
Oct.
21
to
Oct.
,6 Less income tax.
d Correction.
declared for 1914 payable in quarterly Installments of 2%
15 1914.
/Payable in stock. «g Payable In com. stock.
21
Nov.
Transfer books not closed for this dividend.
Annual dividend of 8%
29
IX'
2
e
each beginning with Jan.
29
IX
American Locomotive, pref. (quar.)....
American Malt Corporation, preferred...
American Malting Co., preferred.....
a
_
_
$1.24
3
16
3
Nov.
free. Oct.
f rec. Oct.
16
American Seeding Machine, com. (quar.)
Preferred (quar.)....
1
Oct.
15
f rec.
IX
Sept. 30a
OCt. "15
f rec.
American Telep. & Teleg. (quar
American Type Founders, com. (quar.)..
Preferred (quar.)..
-
2
Sept. 30a
Sept. 30a
Associated Gas & Elec. Cos., pref. (quar.)
Associated Merchants, 1st pref. (quar.)..
1 x
Second preferred (extra):
Associated Oil............
IX
Oct.
15
Oct.
25
to
15 Holders of rec
Oct.
15
Oct. -15
of rec. Oct.
ers of rec.
15
ers
Oct.
15
Oct.
15
Oct.
15
ers
of rec.
IX
Borne, Scrymser Co
20
IX
IX
IX
IX
IX
•Preferred (quar.) (No. Z)............
Canadian Car A Foundry, pref. (quar.).
(Central Coal & Coke, common (quar.)...
„' Preferred (quar.).......
Chicago Pneumatic Tool (quar.)..
Claflln (H. B.) Co., com, (quar.).......
Commonwealth Edison (quar.)
Commonwealth Gas & El. Cos., pf. (qu.)
Corn Products Refining, pref. (quar.)...
Cuyahoga Telephone Co., pref. (quar.)..
Dayton Power & Light, pref. (quar.)
Delaware Lack. & Western Coal
(quar.).
Detroit Edison (quar.)
Distilling Co. of America, pref. (quar.)
duPont(E.I.)deNemours Powd., pf.(qu.)
Edison El. 111. of Boston (quar.) (No.
98)
Edison Elec. III. of Brockton (No.
52)
Elec. Securities Corp., pref. (quar.)
Electrical Utilities, pref. (qu.) (No. 14)..
Electric Bond Ac Share, com.
(quar.) (No 18)
■
'
Oct.
15
Nov. 15
Nov.
Sept. 30
ers
of rec. Oct.
7a
management
of rec. Oct.
la
Stock Exchange firm was established in
5
to
Sept. 25
Oct. 15
.21
to
Oct.
14
Nov.
•
ers of rec.
1
ers
of rec. Oct:
Oct.
25
ers
of rec.
Oct.
15
1
to
1 '
to
1
an
of
G.
F.
Schweitzer/
This
old
1854.
New
York
The firms'
membership includes William Lanman Bull, Frederic Bull,
Henry W. Bull, Louis Livingston' and Lewis E. Waring.
21
Sept. 30a
Oct.
15
Auction
ers
of rec. Oct.
15
ers
of rec. Oct.
la
Sales..—Among other securities, the following,
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
Oct.
15
ers
of rec. Oct.
6a
Oct.
31
Shares.
ers
of rec. Oct.
15a
Oct.
15
ers of
Oct.
15
ers
15
25
16
15
ers
of rec. Oct.
*
to
Oct.
15
Oct.
26
IX
Oct.
2
Nov.
IX
IX
IX
IX
2X
IX
Oct.
Oct.
15
ers
of rec.
X
Oct.
311
ers
of rec. Oct.
IX
Oct.
25
1
rec.
of roc. Oct.
16
to
7a
18
not
la
Sept. 30a
Per Cent.
16,000 Export
Sept. 30a
Oil
&
P.
L.
Co.,
42 Spear's Am. Mg. Syndicate.
2,000 Goldfield Am. Mg. Co., $1
Oct.
26
Nov.
1
ers
of rec. Oct.
ers
of rec. Oct.
Per cent.
$12
lot.
1908
coup,
S^ddal^s,
on
__$100
$10,000 Mex. Sug. Ref. Co., Ltd.,
demand
15
1
Bonds.
$5,000 Mex. Sug. Ref. Co., Ltd.,
of N. O., 1st Gs,
1921, Oct.
$1 each
11a
Nov.
note
$25
15a
Nov.
1
26
Oct.
15
ers
of
Oct.
15
ers
of rec. Oct.
,
to
rec.
Nov. 12
Oct.
7a
Nov.
1
19
IX
Eureka Pipe Line (quar.)..
Fall River Gas Works
—Edward Sweet & Co., 34 Pine St.,
this*city, have opened
office at 65 Old Broad St., London England, under the
ers
IX
...
Emerson-Brantlngham, pref. (quar.)
new
7a
Oct.
2
The
of -Harry M.
7a
Oct.
3
Bldg.,
Chicago office will be under the manage^Tingle, formerly manager of the bond
department of the First National Bank of Detroit, Mich.
Chicago.
rrtent
Oct.
1
$i,
IX
IX
7a
have opened branch offices in the First National Bank
of rec. O.ct.
15i
Oct.
6
3a
ers
15
2
Burns Bros., com. (No. 1).......
10a
Oct.
of rec.
Oct.
-.-.
10a
Oct.
ers
Oct.
.......
Oct.
Oct.
X
Bell Telephone of Canada
(quar.)......
Bell Telephone of Pennsylvania (quar.)l.
Preferred (quar.) (No. 34)
f rec.
15
IX
X
IX
..
...
f rcc.
15
Oct.
Oct.
IX
American Woolen, pref. (quar.) (No. 58). U IX
Anaconda Copper Mining (qu.) (No. 52)
75c.
First preferred (extra)
Second preferred (quar.)-..
15
Oct.
1
—Hodenpyl, Hardy & Co., investment-bankers and op¬
of public utility corporations, 14 Wall
St., N.-Y.,
erators
Nov.
1
ers
of rec. Oct.
to
Nov.
13a
2.
17
$10
Nov.
1
ers
of rec.
Oct.
(quar.) (No. 76).
Federal Sugar Refining, com.
(quar.)..
Preferred (quar.)
Ft. Worth Pow. At LI., pf. (qu.) (No.
9).__
General Electric (quar.).'.,.
General Motors, preferred....
'
15a
S3
Nov.
1
ers
of rec.
Oct.
Nov.
Goldfield Consolidated Mines
30c.
Oct.
31 1
ers
of rec.
10c.
Oct.
31 I
ers
of rec.
$1 each
Soap
Co.,
—
By Messrs. Francis Henshaw & Co., Boston:
Shares.
5 per sh.
25 Lyman Mills.,
15 Mass. Mills in Georgia
11/
93X
5 Naumkeag Steam Cotton Co^—135
Shares.
$ per sh.
8 Boston
10 Essex
Storage Warehouse Co.. 112)4
Co.
...
5 Peppered Mfg. Co.
190
18a
■3X
550 Frank
,
Extra
....
IX
Oct.
31 1
ers
of rec. Oct.
IX.
Oct.
31
ers
of rec. Oct.
IX
Nov.
J
21
2
Oct.
15 1
1 I
to
Oct.
29a
29a
31
ers, of rec.
Aug. 30a
ers of
Oct.
rec.
15a
Sept. 30a
Sept. 30a
30 Pacific
Mills
295
10814
By Messrs. R. L. Day & Co., Boston:
Shares.
$persh.
12 Webster & Atlas Nat. Bank
18 National Union
Bank../
6 Second National Bank...
10 Old Boston Nat. Bank
102X
1..-215
,'.285
..125
4 Merch. Nat. Bank. Worcester..200
Shares.
$ per sh.
f
5 Naumkeag Steam Cotton Co...135
15 Bost. W. Hose& Rub.
Co.,com.2455 Hartford Fire Ins. Co
....741s
10 Mass.
Cotton Mills
...108
.
Oct. 11
$ per sh. Shares.
37 Logan Trust Co
$1 lot
Co.
Mfg.
RIt., $25 each
Ry___360
3 Frank.,4s S'wark Pass.
4 John B. Stetson Co.,
:
•
Com...376
Co..45-45 H
60 Keystone Watch Case Co— 90
15 Enterprise Mgf. Co., v.t.c... 40
16 Phlla. Bourse, com., $50 each
3
Pipe & Constr,
Bank...:...297
....450X
100 Finance Co. of Pa., 1st pref:.114
8 Guarantee Tr. & S.D. Cq__.150
Nat. Bank..
By Messrs. Samuel
Freeman & Co.,
.
/$
Shares.
Constr.
Co..
'25 Amer. Pipe &
Fibre
30 Jap
$3,000 Lackawanna Telep. Co. 1st
5s, 1930.
50
$1,000 Atlantic Elec. Co. 1st &ref.
5s, 1938-..L___.u._A
96
$1,000 T. H. Ind. & East. Trac. Co.*
"
1st & ref. 5s, 1945
97X
$2,000 Sprtngf. Wat. Co. 5s, 1926.90-91
$500 Springf. Wat. Co. 6s, 1922.102H
$200 Sun. Haz. & W. B. Ky. 1st
5s, 1928.
101H
,
3 4th Street Nat.
6 Phlla.
Per cent.
Bonds.
sh
per
Philadelphia:
Co..-^,. 45
$10 lot
Percent.
.
------
•
4 at Canadian cities, in comparison with the
week of 1912, show
a
decrease in the aggregate of
<ending Oct.
same
1.0%.
,
,
893,0
997,0
1,707,0
1,326,0
504,0
15.1 + 10.7*
15.6 + 10.0
15.2+11.5
15.2 + 10.8
14.7+12.1
15.1 + 10.6
Oct. 4__ 573,640,0 57,994,0
6,568,0 48,492,0 429,339,0 15.0 + 10.1
$1,500,000; Bankers',
trust companies Is as fpilows: Brooklyn,
The capital of the
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor, $1,250,000; Title
Guarantee & Trust,
$5,000,000; Guaranty, $10,000,000; Fidelity, $1,000,000;
$4,000,000; Columbia-Knickerbocker, $2,000,000;
$3,000,000; Franklin, $1,000,000; Lincoln, $1,$2,000,000; Broadway, $1,500,000; total, $46,250,000.
Lawyers' Title Insurance & Trust,
People's, $1,000,000; New York,
000,000; Metropolitan,
Week ending October
421,0
139,0
208,0
9,0
6,499,0 50,695,0 427,550,0 15.1 + 10.6
Clearings.—The clearings for the week
Bank
15,290,0
32,042,0
6,848,0
8,178,0
12,369,0
11,077,0
1,882,0
3,580,0
402,0
Totals,Average 95,626,0 577,276,0 58,138,0
Actual figures
Canadian
Reserve.
$
$
$
%
18,702,0 15.0+10.0
2,111,0
227,0 10,583,0 102,443,0 15.0+ 9.3
29,567,0 15.0 + 12.6
336,0 4,361,0
12,890,0 14.7 + 10.0
33,0 1,462,0
2,490,0 21,330,0 15.2+10.2
1,166,0
1,041,0 13,047,0 103,173,0 15.0 + 11.2
5,796,0 15.9 + 10.8
760,0
246,0
10,301,0 15.5 + 10.9
344,0 1,263,0
37,544,0 15.0 + 10.1
720,0 4,233,0
Bankers
100
$1,000 City of Phlla. 4s, 1938
Average.
703,0
3,699,7 23,587,0 2,112,0
14.860.0 123,572,0 15,162,0
36,719,0 4,104,0
4.376.5
U. S. M. & T.
1,865,0
18,475,0
1.266.6
A st or
33,716,0 2,088,0
TltleGuar.&T. 11.437.1
23.672.2 159,674,0 14,538,0
Guaranty
680,0
7,429,0
1.330.5
Fidelity
1,253,0
15,905,0
LawyersTI&T 5,614,0
7,125,9 45,514,0 4,897,0
Col.-Knicker__
1,909,0
15,948,0
1.543.6
People's
New York
11,993,2 45,255,0 4,608,0
902,0
8,727,0
1,197,3
Franklin
9,653,0 1,038,0
528,4
Lincoln
6,156,6 21,437,0 1,813,0
Metropolitan..
11,665,0 1,169,0
824,4
Broadway
Brooklyn.
...—
$1,000 Phila, & Garrett. St .Ry. 1st
5s, 1955....
91
Deposits.
Banks.
V
$
$
$
Bonds.
withC.H.
Legals.
Specie.
Average. Average.
Average.
00s omitted.
Phlla., $50 each330
30 Phlla. Life Ins. Co., $10 each 10H
50X
.
Loans.
Surplus.
Trust Cos.
9 Fire Assoc. of
Ry___.243H
1 2d & 3d Streets Pass.
Net
On Dep.
125
17 Real Estate T. I. & T. Co...300
50c.
a.640>£
25 Mill Crk. & Mlnehlll Nav. &
53 Am.
$ per sh.
.
1,000 Majestic Apt. House Co
6 Pennsy. Co. for Ins., &c
OF TRUST COMPANIES.
DETAILED RETURNS
By Messrs. Barnes & Lofland, Philadelphia:
.Shares.
15 Ackworth
1003
CHRONICLE
THE
1913.]
4.
BANKS AND TRUST COMPANIES.
SUMMARY COVERING BOTH
Clearings at—
Inc. or
Dec.
S
Canada—
Montreal
60,906,228
65,929,944
—7.6
Toronto
46,262,155
39,851,856
12,366,611
47,148,416
30,561,514
14,780,480
—18.8
4,274,124
2,930,921
2,083,283
4,238,115
3,428,052
2,206,209
4.256.518
Winnipeg
Vancouver
Ottawa
...
...
•Quebec
Halifax
......
3,864,131
Hamilton
St.
1,563,724
5,364,083
3,974,656
1,537,238
3,841,794
2,554,403
684,898
651,647
1,791,665
1,077,194
660,392
912,260
John....
Calgary
Victoria..........
London
Edmonton
.......
Regina..
Brandon
i..
Lethbridge
Saskatoon
.......
Moose Jaw
Brant ford
William
Fort
New
+ 30.4
—16.3
—1.5
—14.5
—5.6
—9.2
1,621,950
—3.6
5.856.519
—8.4
4,120,615
1,885,988
4,525,012
2,227,467
556,322
—3.5
—18.5
—15.1
—0.7
2,311,299
1,386,441
623,762
712,016
—22.5
+ 5.9
+ 28.1
409,855
Total
179,900,0 305,760,2 1,954,405,0 334,571,0
158,137,174 138,350,707
"Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
made up, see
cases.
State
The
Banking
2,000,0
2,050,0
2,000,0
Mech. & Met.
6,000,0
America
1,500,0
•City......... .25,000,0
Chemical.
3,000,0
600,0
300,0
500,0
513,8
.....
Merchants'Ex.
Butch. &Drov.
w.
120,7
1,080,0
'
American
500,0
Commerce
.
4,750,3
5,000,0
25,000,0
Ex.
Pacific......
"
17,129,3
983,3
2,250,0
1,333,5
People's.
200,0
464,0
Hanover
3,000,0
2,550,0
14,621,3
2,347,6
466,4
1,923,3
Chat. & Phen.
•Citizens' Cent.
•
&.
1,000,0
Market &Fult.
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
Nassau
Metropolitan
_
Corn
Exch.__
Imp.
& Trad-
Park
East
.....
River...
Fourth
—
^Second.......
*
1,833,9
6,048,7
7,841,4
14,326,0
250,0
*.
.......
1 »000,0
4,000,0
250,0
Bowery
N. Y. County.
500,0
64,3
5,885,6
2,742,1
22,196,2
5,000,0
10,000,0
First
Irving
•
3,339,4
784,6
Chase
1,959,9
750,0
678,3
5,000,0
German-Amer.
10,096,9
.*
100,0
2,172,0
German Exch.
200,0
825,6
Fifth
Ave
Germania
Lincoln
Garfield
Fifth
Metropolis
Side....
■Seaboard
Liberty
—...
N. Y. Prod.Ex
'State
...
Security
Coal &
Union
serve.
$
Iron..
Exch..
Nassau, Bklyn
200,0
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
559,0
3,718,0
'
West
its, Aver.
S
1,038,6
1,790,3
5,152,0
14,784,0
1,297,6
491,7
2,305,8
888,0
2,485,9
2,787,6
>'
8,554,0
4,107,0
11,980,0
3,825,0
24,180,0
23,091,0
8,825,0
18,557,0
11,933,0
6,724,0
9,100,0
7,495,0
925,7
491,6
364,0
559,0
991,0
1,144,2
'
909,0
3,726,0
20,658,0
1,516,0
8,218,0
30,900,0
3,762,0 1,121,0
19,461,0
57,226,0 .10,504,0 2,365,0
1,650,0
4,224,0
22,999,0
202,639,0 40,133,0 6,428,0
4,724,0 2,091,0
28,411,0
164,0
1,430,0
6,582,0
•'
55,0
354,0
1,960,0
175,0
2,219,0
8,565,0
1,740,0
9,587,0
44,893,0
17,137,0 10,928,0
132,589,0
740,0
435,0
-4,854,0
3,250,0 1,533,0
19,350,0
147,0
384,0
2,258,0
19,732,0
1,689,0
73,402,0
611,0
4,767,0
22,799,0
1,136,0
1,704,0
10,878,0
832,0
1,426,0
9,105,0
253,0
3,434,0
13,906,0
8,851,0 7,222,0
54,868,0
3,238,0 2,452,0
25,927,0
87,408,0
20,793,0 1,947,0
115,0
259,0
1,501,0
5,163,0 2,000,0
28,520,0
160,0
13,190,0
2,848,0
111,554,0 23,729,0 1,787,0
36,737,0
7,065,0 2,363,0
74,0
814,0
3,229,0
656,0
8,265,0
1,328,0
185,0
901,0
3,929,0
22,326,0 4,772,0
94,166,0
1,126,0
2,50S,0
12,375,0
4,233,7
4,993,4
2,152,7
8,932,5
6,300,9
31,734,1
7,696,6
New York
Manhattan Co
1,123,0
2,979,0
1,961,0
344,0
1,700,0
872,0
5,719,0
5,428,0
2,116,0
5,690,0
2,538,0
1,339,0
1,747,0
1,345,0
,
$
18,266,0
35,200,0
19,108,0
53,064,0
21,979,0
192,208,0
25,043,0
6,449,0
1,711,0
9,507,0
44,249,0
109.621,0
4,523,0
19,404,0
2,163,0
81,207,0
21,425,0
11,742,0
8,912,0
25.3
27.6
24.2
26.7
but the figures are compiled so as to
27.2
made up, see
24.7
25.1
25.5.
STATE BANKS AND TRUST.
State Banks
1
14,625,0
64,108,0
,
Trust Cos.
State Banks
Trust Cos.
.
■
Week ended
Greater N.
YGreater N. Y
I
$
Y. Greater N. Y.
Greater N.
'
*9,478,000
*10,150,00$
*12,463,100
*11,405,100
122,336,500
+ 451,300
176,480,800
+ 38,000
346,723,200,1,127,140,700
+ 7,557,800
+2,416,600
128,393,000
+ 1,065,400
185,067,300
+ 1,929,900
130,170,100
—60,300
24,396,400
+ 944,600
+ 1,726,500
22,950,000,
Capital as of Sept. 9___.
38,804,50oJ
investments.-
$
.
outside of
outside of
in
in
Oct. 4.
68,400,000
163,181,300
302,853,800 1,058,345,300
+ 5,328,000
-+7,754,100
112,910,800
—89,400
9,901,100
—517,500
■
54,970,100
+673*600
21,353,100
.1..
Specie
Legal-tender & bk. notes.
Change from last week.
Deposits
—30,400
Change from last week.
Reserve
on
90,336,000
+ 955,300
deposits
Change from last week.
24,854,000
P. C. reserve to
26.8%
27.2%
deposits.
Percentage last week..
16.5%
16.3%
■
20.3%
14.5%
■
13.6%,
19.6%
25.9
24.6
+ Increase over last week.
—
Decrease from last week%
* As of June 4.
24.5
26.3
25.1
Note.—"Surplus" includes all undivided profits.
"Reserve on deposits" Includes
both trust companies and State banks, not only cash items but amounts due
for
25.2
Trust companies in New York State stre required by law to
proportionate to their deposits, the ratio varying according to lo¬
below.
The percentage of reserve required Is computed on the
aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and-also exclusive of time deposits not payable within thirty days
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an amount equal to
the market value (not exceeding par) of bonds or obligations of the State or City
of New York owned by the bank or held in trust for it by any public department.
25.1
The State banks are likewise required to
24.1
from reserve agents.
25.3
keep a reserve
25.2
cation
25.0
25.0
25.5
26.0
25.6
shown
as
keep a reserve varying
according to locar
of time
(according
amend¬
of New York, and ex¬
24.3
tlon, the reserve being computed on the whole amount of deposits exclusive
not payable within thirty days, represented by' certificates
to the amendment of 1910), and exclusive of deposits secured (according to
28.8'
ment of 1911) by bonds or
25.6
clusive of an amount equal to
26.4
obligations of the State or City of New York
25.0
for it
25.4
26.3
deposits
obligations of the City or State
the market value (not exceeding
25.9
—Trust Cos.—
24.2
Required for
Reserve
and
26.4
24.6
par) of bonds or
owned by the company
by any public department,
23.8
State
Manhattan
Total
Trust Companies,
15%
Borough...
25.2
Brooklyn Borough (without branches In Manhat.)
15%
15%
Of
Reserve
which
Required, in Cash.
25%
15%
10%
Other Boroughs (without branches in
or.held In trust
—Stale Banks—
Total
Of
Reserve
which
Required, in Cash.
Banks.
Location—
26.3
20%
10%.
7H%
10 V
15%
15%
20%
20%
15%
16%
15%
Cities of the first and second class
15%
10%
Cities of the third class and villages
10%,
3%
15%
6%
25.2
Manhattan) 15%
Brooklyn Borough, with branches in Manhattan. 15%
24.7
Other Boroughs, with branches In
25.4
25.7
26.0
Elsewhere In State
Manhattan
5%
25.5
25.3
The
rate
trust
$44,917,00b.
Banking Department also undertakes to present sepa¬
figures indicating the totals for the State
companies in Greater New York
House.
!
banks in the Clearing
$44,847,000 and according to actual figures was
COMPANIES.
25.6
'
22,775,0
89,174,0
1,430,0
27,927,0
11,904,0
101,507,0
36,977,0
3,374,0
8,145,0
3,768,0
105,536,0
13,724,0
3,585,0
335,0
5,784,0
255,0
15,052,0
926,0
8,662,0
330,0
3,756,0
581,0
11,392,0
1,066,0
4,585,0
288,0
28,019,0
1,657,0
25,070,0
898,0
10,246,0
418,0
23,964,0
406,0
14,459,0
1,187,0
6,894,0
455,0
8,220,0
350,0
6,035.0
183,0
Circulation .—On the basis of averages, circulation of national
SJouse amounted, to
various items
"Chronicle", V. 86, p. 316.
23.9
25.2
Actual figures
'
:
.
definitions and rules under which the
For
are
(Greater
the
York) and those for the rest of the State, as per
New
24.2
1369,919,0 272,281,0 70,210,0 1355,828,0
......
this class
These returns cover all the institutions of
the whole State,
25.5
25.3
4..
furnishes weeklj
trust companies, under its
%
Totals, Avge.. 133,650,0 210,134,2 1377,129,0 276,433,0 70,277,0 1366*478,0
Oct,.
Department also
of the State banks and
Change from last week.
Merehants'---
Greenwich
Legals.
Average.
Specie.
Average.
$
$
48,492,0 1,785,167,0
Re¬
Average.
S
76,778,0
.
Loans and
Net Depos¬
Loans.
Surplus.
1,355,828,0
429,339,0
1,943,559,0 330,275,0
Total
V
Change from last week
Capital.
50,695,0 1,794,028,0
6,568,0j 48,492,0
Trust cos.
Surplus as of Sept. 9—
DETAILED RETURNS OF BANKS.
j
76,776,0!
1,369,919,0 272,281,0 70,210,0
573,640,0 57,994,0
..
following:
Banks.'
$
1,366,478,0
427,550,0
Actual.
Banks..
in
Clearing-House Banks
and Trust Companies.—The detailed statement below
shows the condition of the New York City Clearing-House
members for the week ending Oct. 4.
The figures for the
separate banks are the averages of the daily results.
In
the case of the totals, actual figures at the end of the week
are also given:
+
For definitions and rules under which the various items are
00« omitted,
$
6,499,0, 50,695,0
distinguish between the results for New York City
1.0
ail
$
70,277,0
Statement of New York City
TFe omit two ciphers (00) in
Deposits.
133,650,0 210,134,2 1;377,129,0 276,433,0
577,276,0 58,138,0
46,250,0 95,626,0
Banks
charge.
total.
Net
Banks.
Trust cos.
returns
total,
with C.H.
$
$
$
$
Averages.
401,617
,
852,175
523,004
197,153,263 199,132,802
Total Canada
1,481,131
1,159,976
681,060
Legal
Tenders.
Specie.
Loans.
Surplus.
Capital.
Oct. 4.
1,469,953
549,435
1,501,579
—22.3
572,001 Not incl. in
Medicine Hat..'__.
46,999,087
35,060,383
23,601,327
9,892,929
4,142,320
2,906,102
1,976,075
2,438,332
1,469,022
2,735,683
1,935,710
•1,459,314
716,179
+23.0
On Dep.
Week \
ending
48,818,954
40,714,112
26,138,775
11,596,985
4,503,818
2,823,902
1,927,397
3,137,914
1,609,799
4,166,006
2,455,637
1,547,249
2,685,085
+ 14.7
656,1.54
457,858 Not incl. in
Westminster.
1910.
1911.
%
1912.
1913.
These figures are shown
also the results
Banks and
Clearing
not in the
in the table below, as are
(both-actual and average) for the
Clearing-
1004
GTHE
House banks and
trust
companies.
In addition,
CHRONICLE
we
Philadelphia Banks.—Below is a summary
weekly totals of the Clearing-House banks of Boston
of the
and
Philadelphia:
We omit two ciphers
(00) in all these figures.
companies in Greater New York.
Banks.
and
Loans.
Specie.
Legals.
Week ended
Oct. 4-
^ I embers.
ActualFiQures
Members.
Trust
Aug.
9
State
Surplus
Cos. Not Banks
in C.-H.
Average.
vy
National banks
Capltal
and
Total of all
State Banks and
$
Aver. Cos.
Boston.
&Trust
$
g'
V
179,900.000
179,900,000
29,650,000
305.760,200
74,180,500
Loans and Investments.
562,489,8002,516,894,800
—3,025,400
+8,508,600
1,785,167,000 1,794,028,000
Deposits
0565,799,300;2,359,827,300
Change from last week
30.
6.
13.
20Sept. 27.
Oct.
A.
4Phlla.
379,940,700
1,943,559,000 1,954,405,000
—8,072,000 + 11,534,000
_
Change from last week
23.
Sept.
Sept.
Sept.
209,550,000
305,760,200
16.
Aug.
Aug.
banks
Sept. 9
+ 10,685,000
-2,456,500
334,571,000
—4,089,000
63,149,300
397,720,300
—422,000
—4,511,000
76,778,000
+465,000
76,776,000
—788,000
67,694,900
—257,100
84,470,900
—1,045,100
342,491,000
25.26%
346,710,000
25.37%
12,675,600
13.85%
359,385,600
Trust Cos.: Cash In vault
64,562,000
64,637,000
58,168,600
122,805,600
Aggr'te money holdings.
Change from last week
407,053,000
—9,576,000
411,347,000
70,844,200
—4,877,000
—679,100
482,191,200
-5-,556,100
48,492,000
—1,685,000
50,695,000
+276,000
15,953,300
+ 137,700
462,042,000
86,797,500
—541,400
30-
548,839,500
—5,142,400
$
60,735,4
60,735,4
60,735,4
60,735,0
60,735,0
60,735,0
60,735,0
-60,735,0
223,121,0
225,771,0
226,250,0
228,581,0
233,075,0
234,266,0
234,562,0
234,676,0
103,684,3
103,684,3
103,684,3
1Q3,684,3
103,684,3
103,684,3
103,684,3
103,684,3
;
Change from last week
•'
-A
V
Sept. 27.
Oct.
•
Legal-tenders
Change from last week
Banks: Cash In vault...
Ratio to deposits
Change from last week
reserve
Change from last week
3,695,150
—7,348,900
,
504,500
95,916,0
1913.
138.338.2
147.564.0
140.626.8
147.954.9
142,125,9
160.306.1
153.865.6
198.727.7
1912.
$2,803,378
15,160,784
1911.
12,081,241
$3,024,605
15,857,931
$14,502,544
$18,882,536
$117,086,607 $114,861,873 $107,851,056 $121,826,395
635,164,721] 655,742,352 557,013,926 588,250,842
General merchandise
$752,251,328 $770,604,225 $664,864,982 $710,077,237
*;
i
1
15.85%
1.25%
.
The
25.17%
+ Increase over last week.
are
25.71%
following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 4 and from Jan. i to date:
17.10%
—Decrease from last week.
the deposits after
eliminating the item "Due from reserve depositories
City"; with this item lnculded,
deposits amounted to $625,842,700, an increase of $857,200 over last week.
In the
case of the Clearing-House
members, the deposits are "legal net deposits" both for
the average and the actual figures.
6 Includes bank notes.
EXPORTS FROM
NEW
and other banks and trust companies in New York
1913.
For the week..
The averages of the New York City
Previously reported
Clearing-House banks
YORK.
1912,
1911.
$19,155,210
618,318,234
$14,655,458
664,070,821
...
Total 40 weeks
and trust companies,, combined with those for the State banks
$17,148,165
579,119,635
trust
companies in Greater New York outside of the
Clearing House,
compare as
follows for
a
series of weeks past?
COMBINED RESULTS OF BANKS AND TRUST
:
GREATER NEW
;
YORK.
COMPANIES,IN
:
V
.
We
omU
two
ciphers
(00) in
all these
Deposits.
Specie.
$
$
$
following table shows the exports and imports of
specie at the po?t of New York for the week ending Oct. 4
and since Jan. 1 1913, and for the
corresponding periods In
1912 and 1911:
EXPORTS
TotMon'y
Investments
onDeposlt
AND
IMPORTS
OF
EntlreRes
Holdings.
Legals.
SPECIE AT NEW YORK.
Exports.
Aug.
Aug.
2...
2.464.351.2
2.462.176.6
2.469.038.7
2.469.329.3
2,492,013,6
2,515,225,6
2.504.670.8
2,507,269,5
2,508,386,2
2,516,894,8
9—.
Aug.
16...
Aug.
23—
Aug.
30__.
Bept.
Sept.
Sept.
6-..
13;_.
20.
Sept.
27...
_.
Oct.
4...
2.331.766.7 416.512.8
2.325.334.5 413.640.9
2,330,546,9 413.214.3
2.333.371.3 412,417,1
2.348.392.4 405.919.4
2,365,812,1 398,872,6
2.348.458.8 394,507,8
2.350.165.6 396,334,3
2,351,598,8 402,231,3
2,359,827,3 397,720,3
$
$
88.489.6
87.096.4
87.161.7
88.050.5
88,048,2
86,730,5
86.672.4
86.750.5
85,516,0
84,470,9
594,713,6
582.409.5
581.848.4
582,826,1
579,187,1
561,844,0
553,710,0
550.864.6
553,981,9
548.839.5
Great
ending Oct. 4, based
average
daily
318,951
5,171
250,968
48,199
1,518,860
9,402,642
3,320,400
1,570,194
$43,575,270
Germany
West Indies.
714,000
....—.
$10,000
——
Mexico..
South
$49,105
938,016
8,125
22,448,639
France
America
All other countries
$10,000 $68,778,546
230,100 32,943,385
2,123,638
6,918,906
Total 1912..
We omit two ciphers
(00) in all these figures.
M
Britain...
$669,484 $33,155,371
173,242
5,161,858
""38*,051
France
$831
1,460
166,393
10,100
...
West- Indies.—
America
7,909
5,750
....
All other countries
Total 1913—..
Loans,
Legal
Tender
Disc'ts
Banks.
On
Deposit
$842,726 $38,368,939
1,165,875 43,789,683
816,840 37,810,637
Total 1912
Total 1911
Capi¬
Sur¬
and
and
with
plus.
Invest¬
Bank
C.-H.
Notes.
Banks:
35,462
1,225,827
$214,246
210,337
$7,898,743
7,198,570
5,581,417
64,393
Deposits.
ments.
$18,214
62,485
23,024
99,376
4,495,419
1,974,398
Net
tal.
70,565
$607,199 $16,807,342
315,225 17,940,400
39,129
11,817,903
Silver.
Great
South
•
236,183
1,716,515
Total 1913
Mexico.
results:
,
Since Jan. 1
$1,284
Germany
on
Week.
Britain...
Total 1911
Reports of Clearing Non-Member Banks.—The follow¬
ing is the statement of condition of the clearing non-member
banks for the weejs
Since Jan. 1
$
:
505,002,4
500,737,3
500.376.0
500,467,6
493,967,6
485.603.1
481.180.2
483,084,8
487.747.3
482,191,2
Imports.
Gold.
Week.
.
vi
The
figures.
Loans and
Wee l Ended—
•
1910.
$16,096,294
494,891,260
$678,726,279 $637,473,444 $596,267,800 $510,987,554
«
and
1910.
$2,421,303
$17,964,162| $21,261,723
Since January 1—
Dry goods
15.11%
10.60%
'
$3,145,873
18,115,850
Total
Total 40 weeks
15.03%
10.14%
dep. with bks.
j
These
For Week.
5,595,000
-7,620,450
Total—
a
93,178.0
92,083,0
96,839,0
93,150,0
11,324,0
11,322,0
11,325,0
11,304,0
11,320,0
11,316,0
11,316,0
11,305,0
FOREIGN IMPORTS AT. NEW YORK.
reserves of trus t cos.-
•
;
3,806,0
90,470,0
92,851,0
93,828,0
Imports and Exports for the Week.—The following are
the imports at New York for the week
ending Oct. 4; also
totals since the
beginning of the first week in
5,090,500
Cash In vault
on
—4,601,000
3,534,000
161,150
Change from last week
-
*407,637,0
♦408,247,0
♦413,818,0
*418,260,0
*417,746,0
*425,334,0
*421,884,0
*434,192,0
3,806,0
3,583,0
3,563,0
136.780.4
130,225,9
111.521.7
118,804,1
138.350.1
140.839.5
132,498,4
173,585.9
*
General merchandise.
Total
*
260,435,0
264,020,0
267,653,0
269,935,0
268,850,0
279,481,0
"Deposits" now include the Item "Exchanges for
Clearing House," which were
reported on October 4 as $18,922,000.
*
Dry goods
Banks (above 25%)...
Cash
26,130,0
26,747,0
27,577,0
27,541,0
25,528,0
$
9,387,0
9,449,0
9,623,0
9,756,0
9,971,0
9,893,0
9,791,0
9,932,0
a
reserve—
Trust cos.(above 15%)
% of cash
263,016.0
262,985,0
January:
on deposit with
other bks. & trust cos.
Surplus CASH
$
4,054,0
3,986,0
3,877,0
3,863,0
26,928,0
27,530,0
Clearing*.
Includes Government deposits and the Item
"due to other banks."
At Boston
Government deposits amounted to
$1,507,000 on October 4, against $1,501,000 on
September 27.
Money
Total
4-
$
26,321,0
372,752,0
370,140,0
372,246,0
375,194,0
378,455,0
377,929,0
380,048,0
382,061,0
66,648,300
+413,700
455,545,000
—11,261,000
16.
23.
Sept.
6.
Sept. 13_
Sept. 20.
+ 8,228,500
330,275,000
—10,041,000
Aug.
Aug.
Aug.
—5,476,000
Specie
Specie,
Of the above imports for the week in 1913, $50,941 were
American gold coin and $1,460 American silver coin.
New York City.
Manhattan and Bronx
Washington Heights.
Battery Park Nat
Century
100,0
200,0
500,0
'400,0
300,0
200,0
250,0
200,0
200,0
200,0
100,0
Colonial
Columbia
Fidelity
Mount Morris..
Mutual
.*
New Netherland
Twenty-third Ward..
Yorkvllle
357,3
117,9
500,3
681.8
728,3
178,3
338.3
464.4
320,6
104.4
498.5
1,778,0
149,0
-1,576,0
354,0
6,536,0
547,0
6,437,0 1,000,0
5,792,0
536,0
1,064,0
38,0
2,253,0
386,0
4,773,0
494,0
3,377,0
398,0
1,909,0
231,0
4,472,0
575,0
Brooklyn.
First National
300,0
Manufacturers' Nat—
252,0
Mechanics'
1,000,0
National City
Side
300,0
North
200,0
706,1 3,791,0
375,0
928,1 5,777,0
397,0
527.4 10,496,0 1,396,0
576.5 4,670,0
514,0
181.6 2,701,0
187,0
Jersey City.
First National
1,614,0
895,0
491,0
3,072,0
5,204,0
12,554,0
4,614,0
2,778,0
547,0
540,0
laultitxg and ffiuattcial.
115 Issues of Listed Stocks
The
Issues
are
classified
Investment, Speculative.
a
copy
"Railroad and Industrial Stocks."
Spencer Trask & Co.
43
EXCHANGE
667,8
I 288,8
4,359,0
3,316,0
200,0
193,0
60,0
48,0
508,0
577,0
1,587,0
1,372,0
6,097,0 10,824,6 85,072,0 8,556,0 3,816,0
18,635,0
6,097,0 10.824.5 85,128,0 8,685,0 4,100,0
13,082,0
6,097,0 10.824.6 84,959,0 8,603,0 3,915,0
12,141,0
77,899,0
78,326,0
78,337,0
PLACE—NEW YORK
Boston
Chicago
2,916,0
1,645,0
1,513,0
220,0
125,0
by us as follows:
Investment, Semi- ^
Investors interested in stocks can obtain :
of this circular free of charge by sending for Circular 614.2
Albany
7,948,0
477,0
744,0
Hoboken.
__
39,0
351,0
515,0
122,0
172,0
184,0
54,0
120,0
First National
Sept. 27
225,0
1,513,0
1,6.58,0
5,935,0
6,552,0
6,481,0
985,0
2,441,0
4,796,0
3,326,0
2,050,0
4,907,0
283,0
205,0
98,0
'
Totals Sept. 20—
85,0
199,0
84,0
414,0
902,0
699,0
135,0
299,0
498,0
146,0
272,0
646,0
4,219,0
3,130,0
2,646,0
...
4
67,0
1,398,4
825.9
433,9
Second National—„..
Totals Oct.
100,0
402,0
209,0
437,0
117,0
47,0
330,0
132,0
400,0
250,0
200,0
Hudson County Nat.
Third National
Totals
-•*
lation.
a
$
Aug.
Average.
Circu¬
Deposits.
Surplus.
Clear.-House
^
CapUal
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House
xcvii.
Boston and
have
oombined each corresponding item, in the two statements,
thus affording an aggregate for the whole of the banks and
trust
[Vol.
White, Weld & Co.
Bonds and
Investment Securities.
14 WALL STREET
THE ROOKERY
111 DEVONSHIRE STREET
NEW YORK
CHICAGO
BOSTON
Qot.
THE
111913.]
Wall Street, Friday
flarket and Financial
The Money
values have declined almost
Night, Oct. 10 1913.
Situation.—Security
Low for the
week—
Germany
topic of the week, however,
the "World's Series" of ball games, has
and Currency Bill now before Congress,
and the discussion of it which has been going on at the
Bankers' Convention in Boston.
In view of the decided and
practically unanimous conclusion of this Convention, as well
except, perhaps,
been the Banking
as
in banking circles generally , it is
amended as to eliminate some
hoped that the bill will be
of its most objectionable
give to the country what everybody, in¬
cluding the framers of the bill, most desire, viz., a stable and
so
features and thus
elastic currency.,
Uncertainty in regard to this matter is,
in a decline of the Gpvernment 2% bonds to
the lowest prices ever recorded for them.
Money market conditions at home and abroad are becom¬
ing more and more a matter of interest and importance.
Last Saturday's bank statement showed a loss in cash by the
Clearing-House banks of over $9,000,000, and it is reported
that receipts this week are not equal to the outgo, the latter
chiefly through the Sub-Treasury.
The Bank of England
also showed a loss of about $9,400,000 in gold holdings and
however,
seen
lower percentage of reserve than for several weeks past.
The latter is, however, substantially above the average at
a
for a series of years.
But the demand upon the
gold is reported to be from various sources, so that
there is no expectation of a lower official discount rate in the
near future.
Although the local money market is slowly but
steadily growing firmer, no stringency here is looked for.
General trade conditions are more or less unsatisfactory,
this
season
Bank for
might be expected at the beginning of the process of re¬
adjustment to new tariff schedules.
Especially is this true
in the iron and steel industry, where orders are greatly re¬
duced and prices are unsteady.
A reduction of nearly
30,000 in the number of idle freight cars, which took place
during the last half of September, undoubtedly represents
the movement of crops to market, as there is no evidence of
any considerable increase in the movement of general mer
as
chandise.
;
NEW
YORK
CLEARING-HOUSE BANKS.
(Not Including Trust
are
thirty active issues, only two have advanced, while eight
2 points.
The most notable exceptions
are New Haven and Pennsylvania for an advance and the
local traction bonds for a decline.
i
v.
Bonds.—Sales of Government bonds at
$25,000 4s coup, at 109, $500 3s reg. at
102 and $5,000 2s reg. at 94%. • For to-day's prices of all the
different issues and for yearly range, see third, page following.
United States
the Board include
Miscellaneous Stocks.—In the stock
transactions for the week fall far below that
of any corresponding week in recent years, and, as noted
above, prices have declined.
On Thursday the market was
very irregular and at the close a part of the list showed a
fractional net gain for the day, but there was no underlying
strength to the market as a whole and there has been almost
no
change in the prevailing conditions to-day.
As for some time past, Union Pacific and Steel have been
the most prominent features.
Transactions in Steel have
been on a very large scale and its fluctuctions covered 3%
points, while Union Pacific has steadily declined and its
closing is nearly 6 points lower than last week.
Fluctuations in American Tobacco have no market sig¬
nificance; otherwise its range of over 14 points would have
attracted attention.
The copper stocks have all declined
and Bethlehem Steel is down 4 points.
For daily volume of business see page 1013.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
and
Railroad
market the total
for
10.
Lowest.
Week.
50 125
Express
Pref rects, 5th
paid___
Am Coal Products, pref.
40
2:10034 Oct.
754 Oct
Oct
17
Capital
Surplus
Loans and discounts
Oct
10034
Oct
115
Aug 175
$134 Oct
$1
Net
paid..
1,800 227J4 Oct
Oct
104
Oct
10334 June 11234
Feb
104,
Oct
251
Oct
2754 Oct
25
Oct
2554
Feb
33
Jan
Oct
178
Oct
170
Oct
107
Oct
104
10
Chicago & Alton, pref..
100
Colorado & Southern
120
General Chemical...
200 178
100 107
.......
Oct
45
Feb
48
July
87
Jan
June
69
April
48
Oct
48
Mackay
81
Oct
8134 Oct
66 H Oct
Oct
66
Reserve
79
Oct
79
Oct
79
Oct
8334
Mar
54
Oct
54
Oct
51
July
Aug
Oct
2
April
April
6334
7554
334
Jan
6434 Oct
60
June
225
64
Oct
326
3
Oct
3
200
81
Oct
83
Oct
80
50
89
Oct
89
Oct
90
100
93
Oct
93
93H Oct
94
Trust.J.I'
93
Oct
93
Oct
held
Surplus
346,710,000 Dec.
341,619,500
reserves
Inc.
5,090,500 Dec.
5,222,000
2,851,750
331,951,500
358,351,000
344,591,500
8,073,750
4,577,500
13,759,500
336,529,000
statement weekly, showing the actual
condition of the banks on Saturday morning, as well as the above averages.
The
figures, together with the returns of the separate banks and trust companies, also
the summary Issued by the State Banking Department, giving the condition of
State banks and trust companies not reporting to the Clearing House, appear on
Note.—The Clearing House now Issues a
the second page preceding.
SUForeign Exchange.—With the higher money tendency
here during the earlier part of the week, sterling exchange
showed, some degree of weakness.
Commercial bills are in
The close was somewhat firmer.
actual rates for sterling exchange were 4 8160@
days, 4 S570@4 8580 for cheques and 4 8615@4 8625 for
cables. Commercial on banks 4 79 34 @4 8134, and documents for payment
4 80)4 @4 81M.
Cotton for payment 4 81 @4 8134 and grain for pay¬
good supply.
To-day
s
(Friday's)
4 8175' for sixty
ment 4 81
34 @4 81 24To-day's (Friday's) actual rates for Paris bankers' francs were 5 23 54
less)l-16@5 2354 less 1-32 for long and 5 20 less 3-32@5 20 less 1-16 for
short.
Germany bankers' marks were 9414 @94 5-16 for long and 94 15-16
4034
§95 lessless 1-32 short. Amsterdam bankers' guilders were 4034 less 1-16
1-32 for for short.
The posted rates for sterling, as quoted by a representative house,
clined He. on Monday to 4 82 34 for 60 days and 4 86 34 for sight and
mained at these figures throughout the week.
Exchange at Paris on London, 25 fr. 2834c.;
high and 25 fr. 2734c. low.
de¬
re¬
week's range 25 fr. 29c.
Oct
20
294
25% of deposits..
Jan
.
100
M StP&SSM leased lines
262
Inc.
.
7554
67
Pittsburgh Steel, pref
So Pac rects, 1st paid...
Dec.
Jan
90
33
Oct
Oct. 7.
Dec.
Jan
July
10
200
May 10934
June 1734
11
275
Preferred
June 18534 April
-
23
160
Companies
2354 June
Oct
deb BT
Int Agrlcul Corp, pf, v t c
Keokuk & Des M, pref..
33
Aug
1734
1234 Oct
12 H Oct
9
Green Bay & W,
2754 Oct
week ending
44,847,000
Mar
Aug 23034
Averages for
-
Jan
854
212
Oct. 5.
1,366,478,000
276,433,000
70,277,000
deposits
Specie
Legal tenders
1154
23034 Oct
week ending
Circulation
July
Jan
634 June
734 Oct
Averages for
Dec.
Jan
120
from
16,235,000 1,334,372,000
46,344,000
328,000
11,407,000 1,327,806,000
261,202,000
4,352,000
75,327,000
870,000
10934
102
Differences
Inc.
Sept
7 34 Oct
Cent <fe So Amer Teleg..
-
700
43
United Dry Goods, pref.
U S Express
200
9954 Oct
10
46
Virginia Iron, Coal & C.
Wells, Fargo & Co
400
43
88
44
Oct
160
Oct
United
1934
100
Brunswick Terminal
Tex Pac Land
Oct
8
534 July
1234 June
$134 Oct
previous week'
135,150,000
196,199,000
1,360,815,000
50,037,000
1,378,366,000
284,699,000
73,652,000
Jan
Sept 150
Oct
Oct. 4.
133,650,000
199,887,600
Highest
Lowest.
122
200
Mining
Preferred
Oct
125
Oct
170 11954 Oct
American Express
Can Pac subs 4th
17
1,000
*
Oct
Highest.
■
754 Oct
100
Allis-Chal rects; 5th paid
Batopilas
Range since Jan. 1.
Week.
Range foj
Sales
STOCKS.
Week ending Oct.
week ending
133,650,000
210,134,200
1,377,129,000
bonds at the
1961, at 100
have lost from 1 to
Pac Tel & Tel, pref
Averages for
40 3-16 less 1-16
40 34 plus 1-16
to 109%, $2,000 ditto, 1962, at 99% to 100, and $4,000
Virginia 6s deferred trust receipts at 48%.
Although the market for railway and industrial bonds has
been slightly more active this week, prices have further
declined.
This characteristic is so general that of a list of
Ontario Silver Mining..
Pacific Coast.
1911.
4034 less 1-16
Railroad Bonds.—Sales of State
limited to $43,000 N. Y. Canal 4s,
Nor Ohio Trac & Light.
1912.
1913."
4034
State and
Board
N Y Chic & St Louis
Companies.)
95 1-16 less 1-32
,
Domestic Exchange.—Chicago, 10c. per $1,000 discount.
Boston, par.
St. Louis, 15c. per $1,000 discount.
San Francisco, 20c. per $1,000 prem¬
ium.
St. Paul, 10c. per $1,000 premium. , Montreal, 3134c. premium.
Minneapolis, 10c. per $1,000 premium.
Cincinnati, par.
Adams
market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals has ranged
from 3@5%.
Friday's rates on call were 3 @3%%.
Commercial paper on Friday quoted 5% @6% for 60 to.
90-day endorsements and prime 4 to 6 months' single names
and 6% @6%% for good single names.
, :
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £1,885,492 and the percentage
of reserve to liabilities was 52.79, against 53.26 last week.
The rate of discount remains unchanged at 5% as fixed
Oct. 2.
The Bank of France shows an increase of 2,252,000
francs gold and a decrease of 1,644,000 francs silver.
The open
>
9534
94 15-16 less 1-32
94 34
Bankers'Guilders—
High for the week—
3954
Low for the week—
3954 less 1-16
Amsterdam
■
5 1994 less 1-10
5 20 less 1-16
95 less 1-32
94 5-16
week—
Low for the
4 86
5 20% less 1-64
Bankers' Marks—
High for the week—
Cables.
4 8645
5 20 less 1-64
5 23 34 less 1-32
5 2354 less 3-32
week—
forced liquidation and, indeed,
no liquidation at all, except perhaps in two or three issues.
The downward movement is therefore the result of specula¬
tive sentiment or disappointment because there is to be no
large distribution of Union Pacific funds to holders of that
stock.
The latter was officially announced on Thursday,
and put an end to misleading and disturbing rumors in re¬
gard to the matter which have circulated about the Stock
we
.
Paris Bankets' Francs—
High for the
although there has been no
if
pf. low.
foreign exchange for the week follows:
Cheques.
Sterling Actual—
Sixty Days.
4 8595
High for the week—
4 82
4 8555
Lowflfor the week—
4 8150
The range for
steadily throughout the week,
Exchange for some time pa st.
By far the most engrossing
week's range 20 m. 46 pf.
Berlin on London 20 m. 46pf.;
Exchange at
high and 20 m. 45
feetfce.
i Kvfozxs7
1005
CHRONICLE
Cigar Mfrs
Oct
Outside Market.—Lower
9334
Oct
93
Oct
4034 June 5034
96
July 10534
43
Oct
Oct
89 34 Oct
Oct
June
Oct
Jan
Aug 100
93
Oct
10034 Oct
46
95
Oct
'
Jan
April
April
85
9934
Sept'
Jan
97
Feb
Jan
Jan
Aug
66.
37
July
54
Jan
8634
Septl 125
April
4034
prices were the rule as a
result
trading in the "curb" market this week. ; United
Cigar Stores com. showed special weakness, dropping from
94% to 90; it improved somewhat after this, reaching 92%
to-day, though the close was at 91%.
British-Amer. To¬
bacco old stock weakened from 26% to 25% and ends the
of the little
The new stock sold down from 26% to 25%
finally to 26.
Tobacco Products pref. de¬
clined from 91 to 88% and then advanced to 90%.
AngloAmerican Oil lost about half a point to 21% and recovered
week at 25%.
and recovered
21%.
Standard Oil of New Jersey'moved down 5 points
378, the close to-day being at 379.
Willys-Overland com.
improved from 68 to 68%, then sold down to 67; the pref.
fell from 87 to 86.
Recorded transactions of bonds were
to
to
Bklyn. Rap. Tran. 5% notes sold at 96% and
City 4%s of 1960 and 1962 were traded in
at 97%.
Mining stocks show fractional losses.
Braden
Copper was off from 7% to 7% and ends the week at 7%.
British Columbia was conspicuous for an advance from 2%
to 3 %, though it reacted to 2%.
Kerr Lake weakened from
4 to 3 15-16.
Mason Valley continued its downward move¬
very
small.
96 11-16.
ment,
N. Y.
sinking
from
4%
declined from 1% to 1%.
Outside quotations will
to
3%.
Goldfield Consolidated
'
be found on page 1013.
New York Stock Exchange—Stock
Record,"Dally, Weekly and Yearly.-c
OCCUPYING TWO
PAGES
For record of sales during the week of stocks usually
inactive,
STOCKS—HIGHEST
AND
LOWEST
SALE
Sales of
PRICES.
1
see
STOCKS
xr»,«r
the
Saturday
Monday
Tuesday
Wednesday
Oct. 4
Thursday
Oct. 6
Oct. 7
Oct. 8
Oct. 9
10
Oct.
94%
03%
99
*119% 120%
94
94%
182
8:
8778
886s
233% 23412
♦300
320
58
94
9334
*987S 99%
119% 119%
94
95%
580
80
8634
8734
231% 233
*300
6834
320
57%
94
93%
93% 04%
99;
99
99
99%
99%
119% *117% 119% *117% 119%
94%
9378
94%
9334
9334
*80
82
SO •- 80
79%
80
87 V: 871.1
867,
87%
S634 87
23278 2337s
231% 23378
229% 232%
*99
§94%
*295
320
14
29l2
58
♦175
.*12
182
320
*295
57%
*295
Lowest
57
6734
*295
57%
12%
14
*175
12
12
*11%
26%
27%
66%
12
*175
182
*175
182
*175
*172
182
46
*36%
46
*36%
46
70
*36%
46
*36%
75
*60
70
*60
70
*60
75
*60
160
415
*155% 159% *155% 159% *155% 159% *155% 158% *155
1912
•33
35
*51?
6I4
•10%
2884
12i2
2918
46
46
*36
*17%
32%
*5%
37
*395
20
*10
28%
45
37
415
*17%
3234
19%
3234
6%
11%
29
45
45%
28%
44«4
37
36
*5%
*10
37
"
*36
♦17
23
*18
23
155
156
154
135
15434
13538
*17
18%
*130
16
43
*36
10
132
*129
16
*15
134
148
*138
21
20
58
•55
♦1234
15»4
9534
8884
♦29
2978
1045, 10478
9514
888$
*81.
58
*9934 117
165
167l2
*86
88
♦89
92
1412
22%
*36•
*1334
947,
86%
14%
95%
104%
III"
111%
110%
29
*7
103% 103%
116% ii~i%
88
*86
88
*86
♦89
92
*89
*22
14%
23%
13%
21%
5.%
{13
V
8%
23%
♦57
♦17l2
46*4
90i2
95U
22»4
19%
4634
91
953s
*17%
8
94%
22%
*
1384
•40%
23
40
37
4
10%
*334
10%
38%
10
48
25%
•67
89%
§94%
22
80
178
13%
40%
10%
*20
*105
89%
94
90%
94%
22
22%
78%
1334
78
78
41
11
23%
3934
*1034
108
13
19%
*35
13
*20
23
107
13
397,
*9%
40%
11%
23%
♦
♦105
107
*18
1934
18
18
200
♦35
37
327,
*334
*9%
.36
1,250
37,
11
"Y.doo
37
373,
1,100
38
*334
11%
4134
10
10
*3734
37%
38
4
*3%
9%
3734
,
4
9%
*4
5
*4
6
*4
6
♦4
5
20
19
*15
20
•15
20
17
17
100
*7
10
♦7
10
*7
10
46%
*46%
60
46
46
•45
50
233s
75
447,
23%
74%
*44
95
23%
7634
46
24%
§93
24%
©3
24%
75
24%
22%
73%
44%
♦67
75
23%
75
44%
*
2334
2234
72%
♦43%
93
*92
3734
♦92
24%
23%
74%
46
*7,
93
92:
23%
23%
33
*67
2334
363s
•95
*95
*05
100
*95
100
1
*4
484
20
22%
9%
"
*4
2078
23%
•23
*8%
*8%
26%
98%
4%
20
20
23
•
23
30
9&t
*4
4%
207,
•
2978
29%
98%
684
.
22%
♦8%
9%
27
♦22%
*29%
-30%
98%
30
98
♦44
45
*43
♦82
83
•82%
♦44
45
♦43
*82%
64%
84
*82%
83%
65%
6534
100% 100%
168
♦5%
*155
165
♦155
*5%
30
1
6%
64%
66%
99% 100
165
*160
♦92
165
9%
23%
30%
©8
•5%
64
♦19%
21%
*8%.
♦22%
Ho
300
31
94
7%
•43
45
83%
*81
preferred.
3,360 American lot Seonritias
400
290
Ho
64%
lY, 140
*97,
997,
600
*153
American
...
Banff
..
BANKS AND TRUST
COMPANIES—BROKERS'
Banks
Bid
Banks
ASk[
New York
Bid
Ask
Banks
Bid
175
Chat A Phem.
America 1
Battery Park
135
175
182
165
Chelsea Ext.
Chemical
150
...
380
400
Citisens*
Cen
170
178
565
BeweryU
425
362
Borol
225
260
Coal Ac Iron.
160
175
190
Colonial 1
450
Bryaat Park4!
150
•
m
165
Nat—
!.
367
Bronx
Bronx
»w
First
'
City
tm
»•»
1
*
-
f
Columbia V-
240
120
135
Commeeee
Century t-—
195
205
Corn Bach 1.
307
625
650
Coflmopoi'al)
85
105
Eaet
50
75
River..
Greenwich
*Ex"rtebta.t Bale at Stock Exchange n0 ^l08 °Vhla^7'week,
or at auction this
# First
J'ne 16
101% J'ne 10
1067, J'ne 4
86% J'ne 10
ou*4 t»
uvxu
xui
122% Jan
123% Jan
6
""
J'ne 25 §109
Sep 13
Sep 23
92% Apr 10
151% J'ne 10
84
Aug 28
84
J'ne 10
95
12% J ne 10
Oct
20
J'ne
69
Jan 11
63% Dec
2612 Dec
Jan
29% Jan
68% Jan
9
20% Apr
1
76
Jan
92% Aug 27
44% Dec
1031, Dec
30
99% Sep 13
28% Jan
2
81% Mch 26
19% J'ne 12
J'ne 10
22% Jan
4
277, J'ne 10
7% J'ly ft
Jan
15% J'ne 4
101% J'ne 6
13T% J'ne 11
79% J'ne 10
9
16
J'ne 11
20% Jan
109
Sep
162% Jan
93% Jan
35% Jan
J'ne 11
637, Jan
J'ne 11
6
6% J'ly
ft
J'ne 19
46
Jan
2
8
Jan
YiF "Yep"
867, Oct
26% Not
4934 Jan
163, Mch
35
Dec
28
88% Oct
J'ly
397, Deo
67
691, Dec
934 May
227, Apr
64% Mch
961, Dec
J'ly
3% J'ne
12% .1 'ne
_
Aug 12
45
Deo
3
4
Jan
11
Jan
3
6
Jan
68% Apr 23
48
Feb
$1G% Sep 11
$24% Oct
2
80% Sep 16
61% J'ne 10
41% Sep
6
'03
Sep 30
57
19% J'ne 10
Aug 14
J'ne 11
46t, Dec
6
00
Mch
117
Mch
J'MW
Oct 10
Oet
3
79% J'ne 12
58% jweio
97
J'ne §
f
Feb
115
Feb
30% Oct
75% Aug
45% Jan
-
20
Feb
18-
Jan
9
Mch
Apr
95
4
Jan
3
Jan 31
Jan 31
Jan 6
186*4 Jan t
Feb
30
Feb
7% Sep
34
Sep
3034 May
177, Apr
43
Apr
47% Nov
2
42
Jan
Jan
9
84
Dec
4% Jan
74% Jan 30
661, Dec
Feb 71
Jan 22
193
92% Oct
63% Mch
104% Mch
7/
Sep
101% J'ns
473, Oct
126% Sep
63% Sep
120
May
601, Deo
83% DOC
60% NOV
99% Feb
110% Aug
19% Aug
69% Aug
89% J'ne91
Sep
109%= Sep
203% Dee
61% Jan
107
17% Oct
62!, Aug
Jan
103
2
86
36% Oct
-
31% Feb
Jan
12
45
*49
6
Jan 6
Jan
2
Jan 2
Jan 10
Jan •
28% Feb It)
27%
11%
81%
44%
J'ne 1*
Sep
2
J'ly •
J'ne 10
Nov
11% Feb
90V Feb
48%
78%
57%
06%
5%
j'ne 23
JTy
2
56
J'ne 10
J'ne 16
J'ly
98
50% Jan
36% J'ne 10
6
64% Dec
467, Jan 31
130% Jan 30
56% Jan
2
80% J'ne 19
150
2
11% Oct
Feb
00
3
Jan
,
70
33%
90%
33%
92%
3%
157,
Jan
99
21
108
Jan
14
Apr
111% Sep
176% Sep
28% Jan 13
7
Apr
Apr
Mch
Jan
Apr
Oct
Oct
Apr
J'ne
115% Apr
J'ne
28
103
171, Aug 13
1
Feb
Apr
Apr
Apr
150% Dec
J'ne 11
Oet
3
3% May
13
Aug
May
Sep
"
ft
30
Apr
Aug
Feb
179%
93%
101%
30%
69%
29%
09%
4334
403,
■t
80%
27%
56%
29% Jan"
68% Feb
20% Jan
3372 Dec
10% Dec
43% Sep 23
13
Dec
18
49% Sep 23
110
9
10% J'ne
Feb U
35% Jan 13
14% J'ne 10
38
J'ne 12
72
22% Dec
42% Dee
17% Dec
29
17
Oct
Dec
82
4
44% Jan
2
19% Jan 11
23% Oct
3
61
Sep 17
89
Apr 10
247g Feb
9
2% J ne 17
13
J'ne28
5%
143% Jan
87% J'ne
Apr
Apr
131%
126%
111%
117
108%Jan
171
*
Jan
02
115% Jan
1197, Dee
98% Jun1
7
;
Jan
J'ne
,88
uau
Banks
300
515
175
180
615
680 ^
Bid
Mt Morris 1-
270
290
Nassau
505
195
200
225
—...
At*
.
102% Jan
m
Mch
Banke
*
NewJfetht..
210
Lincoln
830
350
New York Co
850
875
312
322
New York
395
255
w
"
405
Paolfio
Bid
Ask
Seaboard....
mm *»
Manhattan 1
Mark Ac Fuit.
265
Liberty
297, J'ne
107% Feb
Jan x x
11
104
71
367,
121%
142%
413,
119%
Dec
126
Feb 13
87
100
3
.
430
Second
395
425
115
125
.....
Security!
Sherman
!
....
Statef
23d Ward t—
Union Exch.
<*■*>'»+
135
180
140
137
230
240
375
425
Meeh Ac Met.
223
228
350
360
475
Meroh Jtxch
166
155:
230
250
Merchants'
175
185 '
Wash H'ts f.
Westeh Avf.
275
450
165
170
West
325
850
Publiel..—.
250
800
180
190
Reserve
84
88
...
210
160
450
mi
f,
■-
■-
flLSMatWH^irk^h,CeS:
Meh
35
Jan 2
Jan 30
Jan 10
Jan 11
113% Jan 3
27%
109%
1297,
83%
Mutual'!
;
285
Irving
;
69
25% Dec
57% May
J'ly
02!, Oct
26% Oct
106% Dec
9
t
185%
•
,
177
250
43% Jan
Jan
QUOTATIONS.
Ask
Harrlman
960
170
220
§57
151% Aug
Aug
31% Mch
66
Apr
4734 Mch
158
1
315
Chase
1185
940
Bid
Imp Ac Trad.
325
Jan 29
»*»
285
Butch A Dr.
300
"
Banks
4500
145
215
130
225
555
Amer Exch.J
4
ASk
Dec
1287, Dec
18% J'ly
§40
Feb
2
Dec
6% Oct
Uniliii A Sefln'g
Ho
preferred
18534 Jan
170
Aug
138% Mch
27% Jan
Feb
94
Amer Benetton Sec pref B
165
13S
7
Apr
May
40
146
27
Amer
preferred
Jan
129
98
American Malt Oerp
64
18
11% J an
1657, Feb
10
J'ly
67% Oct
31% Sep
65% Mch
May
30
Sep
22
22% May
6
47
53
141% Jan
16% Dec
53% Jan
2
142% Jan
«% J'ne 16
30% J'A6 W
American Loocasodvc
Ho
809
preferred
l;
368
Jan
Apr
Apr
48
143% Aug
120% May
9
17
American Linseed.
Ho
preferred
83
165
.
American Hide A Leather
Ho
prefsrTad
""■ioo
21%
.9%
45
65
...
Cities
3,500 American Cotton Oil
Ho
14
preferred
23%
*30
22
preferred..
American
4%
•5%
♦99% 100%
♦155
Ho
300
4Q0
96
*4
7
Central.
1,700 American Car A Foundry
•
Dec
Jan
56
May
577
Jan
40>, J'ne 11
preferred....
2d preferred*.*.,.
Industrial
A
Mieeefl.
22>4 17,100 dAlaska Gold Mis Par $10
73% 169,490 Amalgamated Coyper...
46
300 American Agrieul Chans.
Do
92
125
preferred
237,
1,780 American Beet Sugar
Ha
75
preferred
35% 75*266 American Can.......
Ho
preferred
95%
6,570
•4
22%
*8%
*227,
30
84
100%
'9%
25
*95
45
65%
*99% 100
22
22
§96
4%
22
98%
7
45
*160
♦67
..
*4
♦20
30%
7
66%
♦95
4%
22
45
08
6%
♦4
*19%
21%
♦8%
♦22%
22%
9%
24%
*6
•190
75
'33%
39% Apr
38
Jan
Jan
Feb
Jan
J'ne
32
1st
Wisconsin
23
Dec
36
80% Ang 16
...
_
9434
*43%
64%
41%
2078
♦67
75
""5OO
J*ns
35
J'ly 25
9
J'ly 17
937, Sep 3
85% Sep 18
25% J'ne 11
Wheeling A Lake Erie.—
Ho
50
221,
71%
♦43%
ens erred
Ho
Dec
126
35
115% J'ne
,
10
•45
...
Do
preferred
Western Maryland..
14
9
168%
142%
132%
23%
J'ne
Mch
46% Jan
11% May
30
Jan 30
2
Pacific..
United Rye Inv'tofS F._
Ho
preferred.
100
♦17
10
44
117%
64%
-41%
Ho
2
Deo
24
47% Dec
Jan
3
Feb 5
Jan 30
Jan 30
J'ly 28
61% Jan
7
11% Feb 5
5
597
Aug
18% J'ly
34% J'ne
8
Sep
41%
1287g
19%
65%
28%
J'ne 11
May
20*4 J'ly
141% J'ne
126% J'ne
Wabaau....
*10
33
33%
34%
34%
33%
34%
33%
94
95%
95%
95%
9434
9434 95
93%
,45
*43%
44%
43% 43%
42% 43%
42% 43
116
116
*115
116% *115
117
116% *115
♦115
116%
♦36
36
36
36
36%
♦36
36%
37% •36
37%
♦63
66
*63
65
65
*63
65%
65
64%
64%
397s -41
39%
46%
37%
39
38% 38%
38
39
36'%
Union
152% 1537, 249,206
82% 83%
3,800
*67
•116
ntmpd.
preferred
do
850 Texas A Pacific
6,560 Third Avenue (N $)
600 Telede St L A Western..
Ho
preferred
Twin City Rapid Transit
152% 154%
83%
83%
4
...J
Ho
2,710
*35
,19%
preferred.
Seaboard Air Line—..,.
Ho
preferred
53,750 Southern Pacific Co.
Certificates (wh. taw.).
3,350
4,340 Southern v tr ctfs
610
10%
38%
4%
♦92
45
66
13
Louis Southwestern
Do
200
89%
94%
21«4
76%
75
-*44
•82%
94%
21%
76%
St
100
17%
46%
33%
9578
33
94%
•24
*20
25
153% 156%
83%
83%
*18
1934
38
*384
25
40
11%
*105
preferred
400 StLbtois A hap Francisco
Ho
let pref en ed.
25.
Do
2d preferred
400
'66
17%
4638
893s
Ho
5,420
8
*23
*56
...
11
109
; *7%
90%
94%
22%
78
93%
2134
771?
*12%
39%
41
12
22%
*104
157% 158%
*83%
84
4
22%
74%
76%
4434
92%
25
89
5%
17
18%
46%
38
4%
2378
•39
*17%
*4534
*46
*7
...
•
Dec
132% Jan
4
-
preferred.
2d preferred
Rock Island
Company.*.
"9",326
13%
21%
46%
19
*91
*17%
8
-..I!!
1st
520
*6
5
227,
74%
17%
46%
90%
94%
22%
17%
*4534
♦7
6
20
264", 240 Reading..
♦15
39
48
67%
22%
22%
♦7
7%
25
•55
108
'•38
*17
*23%
66%
18%
46%
15678 158%
83%
8384
*19
22%
>•19
•4
25
♦55
12
*20
*3«4
10%
88%
*23%
61
61
*5
♦12
Pittab Cin Cbic A 8t L._
Do
preferred
92
13%
5%
*12%
784
25
5%
4
88
21
Western.
Pennsylvania
100
Dec
162
Apr
Mch
62% Apr
101% Apr
175% Feb
530
9
Jan 10
41
25% J'ne
1,900 Norfolk A Western
.Ho adjustment pref..
"9",275 Northern Pacific.
12,511
95
8
J'ne 11§150
Jan 22
18% J'ne 10
7
29% Jan
52
J'ne
64% Apr 11
Rya of Mex 1st pref.
N Y Ontario A
500
103% 103%
*88
7%
*23%
14
41%
*104
84
87%
Jan 16
Jan
Jan
146
145
198
45% Dec
133
v°n 2<3 PT*fcnr*d
xr
J'ne
45
12.
32
N Y Central A 11 R
10,320
NYN HA
6,750
Hartford....
9Q
14%
2134
20
22%
80
109
12%
20
*5
19%
90
•20
84
86%
*84
*13
46%
90%
95
*7
1581s 150%
""206
13%95%
92
*89
Nat
44
13%
95
85
6
61
'
46
•105
8434
8%
25
♦23%
61
11
14%
88
20
,
*13
§23%
11
87
*28
14%
22%
5%
13
*5
1412
4118
13%
95%
87%
2S%
13%
94«4
92
14%
22%
14
2234
8034
14l2
42l8
"6",600
116% lYl"
92
♦57
80
*34
flY%
*86
<
44
"2",935
1934
29
Jan 21
8t, Jan
2
16% Jan
2
32% Jan 6
49% Jan 30
115% J'ne 10
25% J'ne 10
104% Apr 1
12% J'ne 4
127
Marie!!
Nov
6
23% Jan
4
7
Ho
preferred.
Missouri Kan A Texaa
Do
preferred
Missouri Pacific...
58
28%
*108% 108%
112% 112% 112% 112%
111% 112% 111% 11134 111% 111%
*87%
9034
*87%
90
90
9034
*87%
91
*87%
90%
*100
117
*100
*9934 117
117
*100
117
*100
117
164% 16534 165% 166
163% 165%
16234 164%
162% 164%
22%
22
*55
15
95%
87%
87%
*28
28%
103% 103%
550
188
.
Jan 30
J'ne
6
,
Jan
Jan
Jan 13
445
10
J'ly 11
20% J'ne 10
33% J'ne 10
28% J'nslo
A St Louis
Ho
pref___
Minn St P A 8 S
148
19%
58
*34
*1334
94%
Minneapolis
Jan 11
41
56
pref
Feb
Dec
Dec
J'ly
Deo
1341, Dec
Jan
Feb
94t2 J'ly
Aug
395
Apr
85% Oct
20% Oct
39% Apr
"1175, Nov
Jan
68%
155,
30%
99%
139%
J'ne 11
21% J'ne
Manhattan Elevated.
500
16
*35%
43
132% 132%
29
28%
Ho
J'ne 12
13% J'ne 11
~
8,400 Lehigh Valley
■!!!!!!
2,720 Louisville A Nashville
130
*135
20%
*55
44
*89
6
150
20%
58
29%
*34
104
88
29
20%
28%
46
15%
95%
95%
87%
87%
28%
28%
103«4 10378
14l2
♦12
'
29%
*1334
23
*5
V
29%
44
87
111% 112
1125, 112%
■
*55
*34
*138
v t ctf_
pref
Western.
133%
*14%
*131% 132%
148
500
154
130
132
Central.........
Kansa City
Southern.
Ho
pref
.1
Lake Erie A
1,200
35
305
Jan
Oct
283
Mch
Jan
Aug
Apv
91
Feb
Aug
Jan
Jan 13
17'8 Jan
J'ne 10
23
pref err ed—...
Do
22.
153
43
20?8
29%
*17
2d
Interboro-Metrcp
10
133
16
*35%
*133
29
*15,
25
152% 15384
133% 134
*35% 43
131% 133
*138
*53
*7%
1st
ILinols
3,300
80
390
...__.!!!!
preferred..!!!
_
6,080
14,050
362
•98% J'ne10
116%
131% Sep 18 145
123% J'no 10 138
181
May23 §189
54
347, Aug 26
76
AugSS
94%
167
147% J'ne 11
pref.—...
3,900 Great Northern pref.
Iron Ore
8,600
properties..!
10S% 108%
14%
143.1
59
66%
2438
24%
*56%
58
10
25
35%
12538 12584
32%
32%
57%
134%
43%
35%
24%
57
*7
*15
134
58
2438
*129
150
21%
43%
15
10
Ho
25,100 Erie
Ho
3,603
He
1,800
28%
?J'ne11
23
Ho pref..
Duluth So Shore A
Atlan
""375
11
2734
61
16
*133
45
1434
60
43
*140
2934
125%
31%
108%
132
134
293,
36
56
134
140
*36
500
*10
pref
92% May26
9
51% J'ly 11
10% J'ne 4
Denver A Rio
Grande...
100
32%
6%
*15
43
20%
19
*31%
*5%
28%
44%
36%
126
32
109%
42%
15234 154%
134
2U4
28
*13
L_"
Delaware A
Hudson.!!!
Delaware Lack A West
813
11
*10
24
400
19%
3234
6%
*5%
10%
28%
45
3684
126%
32%
109
15%
62
*15
♦137
21%
♦53
*32
6%
*35%
Ye"
*15"
*35l2
*1734
*5%
24
401
401
33
18%
*32
154% 155
134% 135
132
*15
?
415
*401
2834
33
6%
11%
28%
45%
♦13514 136
♦129
Ho
401
415
12614 127
126% 126%
126% 126%
125%
3312
3412
32% 33%
3234
33
31%
11012 H078
110
109%, 110% *109
<108%
16
I6I4
15%
1534
15%
15%
15%
6178
63
61%
62%
6134
62%
60%
*24
24l2
24
24
2438
24% 24%
57% 5714 *—_
58
58
56
*712 10
*7
*7
*7%
10
10%
"
Ho
pref
Cleve Cin Chic & St
Jan It)
111%
"'104%
14S12
1117,
101% Jan
Dec
266% Jan
_
Chicago A North Western
159
*390
*18
Highest
103% Feb
rl30%
*101%
~86%
76%
220%
_
77% J'ne Is
*83% J'no 10
208% J'ly 9
ctfs."
tr
602
75
♦156
Ohio
711
46
*60
<fc
Jan 6
Jan 29
Jan
Jan
Jan 22
88
.
275
__
pref trust ctrs___
Chicago Milw A St Paul.
Do
pref
16,735
Lowest
iow8
102U
102%
133%
100%
9
J'ne 11
90% J'ne 10
Brooklyn Rapid Transit
Canadian Pacific
Central of New
Jersey"!
Ho
J'ly
112
pref
Chicago Gt West
300
2,200
185
*36%
96
7",920 Chesapeake
57%
12
39%
•390
•
"
*26%
28
10078 102%
101&, 102
134
134% *133% 13534 *134
13534
128% 128%
128% 128%
128% 128%
♦60
■
6,400
78,475
320
*36%
Ho
654
Highest
927, j'ne 12
pref
Atlantic Coast Line RR_
2,920 Baltimore tc Onio
2634 27%
100% 101%
182
Ho
774
80
Previous
Year 1912.
Railroads
400
87
87%
229% 231%
320
28%
27
80
On basis
16,700 Atchison Topeka &SF.
9334
94%
99%
99%
1173S 117%
0334
94%
*118
5734
58
12«a
123S
2634
27
104
102
104i2
103%
102% 103
§134% 13478 5134.% 13478 §13434 13434
♦12812 130
§130
130
*128% 130
♦13
*28%
94
Range for
EXCHANGE
Shares.
..
937,
•987,
m
page
iRattye Since Jan. 1
of 100-share lots
NEW YORK STOCK
Week
Friday
preceding
143
170
250
925
635
Metropolis 1
Metrepel'n 1
I Leas than 100 shares.
installment paid.
—
!
t
Park
1 Btate
» Sold at
banks,
a Ex*4tr.
is 1
private sals at this price. *
ft New
.
stock.
I Full paML
Bide 1.
YorkvUle 1..
/ Ex
24%
148
160
590
acoum.
155
•
•••
176
680
•
Record—Concluded—Page 2
New York Stock
1913.]
Oct. 11
'
usually inactive, see
For record of sales during the week of stocks
second page preceding
'3=
6
Oct.
Oct.
EXCHANGE
Friday
Oct. 9
NEW YORK STOCK
Week
Thursday
Wednesday
Tuesday
Oct. 7
Monday
4
Oct.
STOCKS
the
Saturday
Oct. 10
8
Range
Range Since Jan. 1
Sales of
TRICES.
SALE
LOWEST
AND
STOCKS-HIGHEST
basis
On
Industrial & Misc (Con)
♦109
110
♦113% 116
*114
116
110
116
236% 236%
»236J2 240
102%
♦101
102% *101
102
*100
102
*20
23
21
21
*80*2
88
*80
82
80%
80%
3578
36
35%
36%
~35~
35%
34%
35%
81
75
75
75
75
75
75
44
*40
44
*40
44
♦75
81
♦75
*40
44
106
32
32
70*2
71
70
70
130
*126
130
*40
44
*103
103
*126
2734
21
21
21
*19
6534
100*2
*94
21%
22
22%
21*4
♦92
94l2
94
29
41%
4178
28%
■:»,
*92*4
40%
29%
28*4
68
2:66*4
♦96»4
97%
*15
1514
♦11
14
*9634
41
145% 145^8
3834
3834
•80
67*2
00
44*4
144
144
38
39
81*4
16
16
•10484
•11438
•107%
♦1137S
10S%
114% {114% 11412
*3
4
414
*15
16%
16%
*3
•15
85
♦7812
97%
65
*11
41
4
34%
8
81%
2334
90
393s
81%
24
"5",552
30
*23%
30
86
♦78
86
108
*100
*100
108
*100
83
*76
*77
85
80
80
98*2
*97
100
7
24%
44%
7%
300
T,36O
1,300
*97
100
*97
37
*30
40
*33
38
*33
38
*33
38
*33
*99
102
*98
102
99
99
*98
102
*98
*216
21912
215
115t2
115
115
♦33
35
32
33
♦95
100
*92
*106
100
*86
*85
*156
170
*100
170
113
113
*110
70
§68
.68
*100
103%
.*99
67
.6714
66
103*4
6684
.
*160
;82
45
80
66
22%
1,820
*117
*11
13
-*11
13%
*80
84%
*80
•84%
45
§45*2
451
41%
16%
*16*8
*05,
68
*65
*7H4
75
*71*4
75
16
21
21.%
.21%
SO
.
{26
90
59078
{97
97
111
111
♦15212 154
21%
157b
*60
67
73
*71
75
*71
20
20
*19%
20%
*19%
2734
27%
*27
|
157s
31
20%
88%
26
25
88%
*97
98
98
{153
153
26%
24
97
94
25«4 i
600
*92
97
100
18%
19%
49%
79%
79
7978
79
79%
20
♦20
52 '
♦45
♦46
IS6I4
187
*29
32
*29
.34
*31%
3.4
:67
*G0
,67
186
32
,32
*31%
v
♦60
64
*21
22%
77
75%
♦7.4
77
31%
31
31%
31
31
22
22
79
79
♦77
81
77
3178
31%
31*2
31%
31
"
-IB*
3134
112
J18
♦110
90
90
*86
110
*107
110
109
90
90
*88
'
♦107
.110
47,
*434
478
5
23
*20*4
26
*20%
12%
*10%
12%
*10%
49
*40
49
♦46
49
*46
49
*46
49
*56
59
♦56
58
*56%
6134
57%
23
♦46
58
r67%
♦63
<
,63
62
,64
62*2
~567
',59%
106% 10638
57%
(105% 105%
28*2
*95
28%
*96
97*2
64
63
66
»527g
s63
53%
28%
97%
63%
5134
28%
*96
61
•62
,62%
*106
U06
"54%
,53%
28%
5278
61%
"56% *67
10534 106%
107*8 108
53%
54
30
♦28%
*96
97*2
63
106% <107% {106
107*4 107*2
107% 1077s
<65 *
56
55%
.25%
12%
,
56%
105% 10534
51%
52%
547a
56%
53%
.29%
97%
62
107%
29
29
*96
97%
*61
Do
64
'
Wank
,
At/C
t:
150 ;
v
280 •
First
Flat bus n
.
Nations) CMty
300
•
North Slde7
145
1
125
80
»
<100
.-
Mentauk*?-•Na^sau
j
^
..r.
j
Astor
140
Bankers' Tr;
205 1 •220 ;
t
N Y OHy
B'^pay Trusts
J'ly 16
82% Jan
J'ne
16
J'ne 10
j
14% J'ne 11
73
J'ne 11
2
Do
Do
Atfc
2
Dec
..Jan
Jan
l>
77
36
Jan
7
2334 Feb
7
96
1000
460
Comraerolal Empire
Equitable Tr.
88
02
300
310
450
465
Farm L & Tr
T
>
|U25
1175
210
.220
j
280
300
550
565
<
365
Fldeilty
;
,470
Pulton
,;i«
153
,
Jan 21
10634 Feb
Jan
2
168% Feb
35
Jan
9
27% Feb
100
Jan 13
J'nelO
22
98% Dec
<16
Jan
J'nelO
2888 Jan 31
J'nell
3178 Apr 26
52% May
Jan
and
Jan
Oct
Nov
Sep
f
Nov,
2
1
9
9
35
101
Feb
«
99% Dec
140
<J'ne 10
104
.J'ly 1U
>113
Oct
40%
98%
847%
130%
Aug
Aug
.81
Jan
95
Dec
Jan 21
110
J'ne
46% Jan 30
3
-8
35% Dec
•13
9
Feb
50
Jan
07
66% Jan 31
Jan
11534
114%
177j
6734
22%
6«8
86%
677s
4% Jan
734 Jan
41% Jan
77
Jan
63
1
J'pe 10
60% Apr
45%' Feb
98
J'nelO
1O034 Apr
105% J'ly
3
A978 J'ueU
102% J'ne 10
89% J'nelO
22
J'ly
1
81i2 Jan
76% Jan
93
J'IK,3Q
68% J'ne 1Q
53% J'ne 10
.10778 J'ne 13
81% J'ne 20
J'ne 14
'
-$52%
40?4
U478
Tl%
Jan
9
79% Jan
Jan
112
117
122
8<
TO
<
M Ay
Sep
Mch
88% Jan
89% Aug
126
Aug
11778 Oct
112% J'ly
2
May
Oct
J'ly
May
67% Jan
11478 Jan
U9S4 Jan 17
115% Jrt,r»
Sep
J'ne
Sep
May
May
$67% Sep
Jan
Dec
Dec
Dec
66% Jan
2
May
86% May
8034 Sep
68% Feb
107% Dec
110% Jan 30
60% Jan
2
43% Jan
75% Jan
116.
Jan'
75
69% Jan
114
Dee
68
J'ly
$34% Feb
4% J 'ne 11
«J'n625
6
86
Jan
90% J'ne
0% J'ne iO
44% J'ne
Nov
5934 Sep
53
4
<126
Aug 29
99% Jan
3
56% Oct
-Nov
103% Oot
221
30
39% Jan
22
Jan
<99% Jan
,16% Jan^
81
.4
93% Jan 13
*2834 J'oe lo
89" J'nelO
Got :
93<s Oct >
15.% Feb
64% Feb
89% Dec
78
"
Aug
4034 S«p
Aug
$24% Sep
105
7
4
2
28
30
175
13
92% Sep
92% Jan
9984 Jan
213% Jan
45% Jem
40% Jan
6G73 Feb
116-34 J'ly
J'ly
QUOTATIONS.
Trust Co'r
140
,N Y City
NYLife&Tr
1010
Bid
Brooklyn
j
3rooklyn Tr.
'
.
990
Trust Co's
Ask-
Hid
Ask
470
490
145
455
...4
180
195
170 t
,N Y Trust.
600
615
Citizens'
Lincoln Trust
120
130
.
Title Gu &Tr
405
415;
Franklin
Metropolitan
375
400
,
Transatlantic
.205
220
Hamilton
Union Trust
865
370
Home
425
440
Kings County
United States 107J
1095
f
Nassau
125
,
Quoeiis -Go
All
630
Hudson
,
(
Mutual Alli¬
ance..
Mut'l
t
185
150
|
140
150
•
•
.
.
U S Mtg A Tr
(Weet-
Chestor),.
_
,
%
f
Washington
.
350
365
Wee tohester
-
145
J55
250
....
...
i70"
.....
...
110
280
120
i*35~
285
People'c
295
90
#100
"
•
*
1
f Ex-rights,
a Ex-div.,'<fe rights,
t New stock,
d Quoted dollars per
psked prices; •«>^ile3 JUi.'ibU..day. $>L^a3 than 100 shares.
Btoot -Exehanje or at auction this week,
a Ex-gtook dividend.
Banks marked with a Paragraph (f) are State bauka.
*,Ex-dividend.
•Bid
85
,Oct
87% Aug
38
Sep j
6538 Apr <
,122% Oct I
27% Aug
19034 Aug
40% Sep
10334 Aug
12078 Aug
Law T 1.4c Tr
Jiiarapty Tr.
350
465
Feb
118
165
109
NY City.
985
Feb
95
15434 J'ne l2
28
JTy
8
J
Bid
10% Mch
101% Jan
.14s4 J'ly 15
86 .J'ly
1
Chemj
preferred
Trust Co'a
45
103
17
Union Teleg
1
0,260 Wostiug-ouse El 4c MfgJ
Do
1st preferred
"3",550 Woolworth (F W)
100
4
Jan
15
__
4,102 Western
.
31% Jan 22
46
72
Spring.
1,460 Yirgipia-Carolina
Do
200
preferred
74% Jan
2884 Dec
22% J'ne 11
90% J'nelO
'
I
Do
100
Columbla-
»
J'ne
96%
68%
•11078
$24%
Feb
60
88% J.'nelO
109
J'ly 11
149 -Sep
5
75% Oct
450
Central Trust
155
61% Jan
<12934 Sep 23
24% Jan
2
J'ne 11
J'ne 10
1S% J'nelO
Corp of N„ J
preferred.
9
21% Oct
Knlckerboc
285
*
Feb
105% Feb
$18% Jan'
81% Jan 14
Corp (The)..
5
200
>
1
140
.
273
|
425 '
.
N Y City
;145
400 »
Bid
Trust Co'*
Ask
8
.
6
s
i
Trust Co's
125 k
ManulacFr;
Bid i
175
,
People's
:155 :
Gresnpoint-j
Hlllslrlell....
Homeateau
j
!
Brooklyn
Brooklyn
Coney iilld
Banks
2
108
J'nelO
23
BANKS AND TBUST COMPANIES—BANKERS'
Hia
6
56% Jan
Oct
20
Jan
t'
104
1,200 Texas Company (The)..'
•100 UJderwood Typewriter.
30
96
66
67
•6738
-68
68
68
6678
68%
6634 ,68
*107
117
115
*107
*107
117
117
117
*110
116*4 *107
1*107
92
92%
92%
94
91%
93%
01%
9378
93%
94*8
9434
9434
113% *111% 113%
113
113
♦110
113
*111% 113%t»lll% 113% inn
,68*2
26
88
,preferred.,
•2,800 dTennessee Cop..Par $25
90
61%
98%
12% Feb
92% Jan 80
13
•
6978
6
May29
60
preferred
1,330 Union Bag & Paper
Do
165
preferred
U S Cast Iron Pipe& Fdy
Do
49
♦46
preferred
69
400 0:8 Realty & lmprov't
*56
62 •
62%
4,600 United States Rubber
.Do
1st pr. ferred
>1,090
106% 106%
Do
2d preferred
:
i
165% 66% 453",704 United States Steel
Do preferred
8,600
105% 105-%
16,150 dUtah (Copper
Par $10
.51%
62%
♦28%
9534
$30% Sep I
131
Apr f
56
Rumely Oo (M)__
300
110
107% 107% *105
434
4%
47g
47s
*20% 25% *20% 22
12%
12% *10%
*10%
*10%
24*4
<
90% Oct i
131
.J'ne
preferred.
200 Studebaker
111
108
*88
12%
*23
♦10%
"57%
109
90
114
*107
5
47S
434
♦88
.
109-% 110
*88.
110
*111
•
03
•107
31%
34
21%
23
64%
♦31%
64
*21%
♦60
3.4
21%
75%
,64
25
,
32
32
*31%
Aug:
Dec
•J'ne
Do
preferred
209
2,300 Sears, Roebuck & Co..
gloss-Sheffield Steel & lr
Standard Milling
1
Do
preferred
48%
182%
*60
*60
*21%
24
400
23
*29
182%184
118
Dec
J'ne
4,900 Republic Iron & Steel
Do
preferred
6,160
*29
34
6234 Apr
$23% Feb
105% NOV
92S4 Oct !
215% Oct !
122
4
4,950 d Ray Cons CopperPar$10
48%
2
78% Feb 4
26% Jan
4
130
Sep 18
J'ly
Mch
114
J'ne
9
1978
181
90
107
1247a Jan -8
19% Jan 30
20% J'ne lO
J'ne 11
78%
497s
4978
84
*62
112
,52
185
*29
31
*31
*29
Jan j
19
18%
23
*20
i23
.
184
•187
,34;
.18834 18S34
*3184
1S78
£0 >
20
52
Oct ;
112
19%
20
80
20
88
Dec
7S%
*20%
19
20
19%
19%
18%
1934
*45
Apr
44
Railway Steel
*24
19%
52
69
105
Dec
102% Oct
8
Jan 28
Jan
95
100
Pullman Company
97
19
20
10734 Jan
4
J'ly 18
75
571
152
26%
18%
19
Do
100 Pub Serv
*107% 117
*92
1S78
Oct ;
225
.118
Aug
47% J'ly f
105% Jan
225 Pressed Steel Car
Do
preferred
110
*24
24%
-94
Dec
Jan
Jan
116% Jan 22
767a Jan
2
People's GL&.C (CJiic).
Pittsburgh Coal
3,500
2,100
99
151
6
J'no 10
500'Pacific Telep & Teleg
25
*97
154
Mch
.
200
Mall
400jl'acific
7,920
90%
89%
29
102%
1567#
105%
36%
J'ne 13
iNew York Air Brake
27'
*24
,99
117
♦152
19%
♦19
6
166 North American Co (new)
-21
21
25
*24
25
"
•09%
153
*24
♦47
8
dNevada Cons Cop Par $5
3.C00
124%
.21%
124
20%
S9%
20%.
20
•89%
19%
00%
♦94
80*2
4
J'ne
Oct
100
4
104% Jan
235
Mch
<
Oct
"
73
'
26%
124%
124
'123% 125
*44%
108
1*105
16%j
.20%
79%
Jan
4978 Feb
4
104
4434
19
82%
.102
7
J'ne
j66:Nat Enamei'g & Stamp's
19
78i2
J'ne 10
80% Oct
105% Oct
55% Sep ;
10834 Jan {
Aug
210!
Ho preferred..
610: National Lead
500!
bo preferred.
*107
2-1*2
109
Sep
116
13
103
8934
*98
97
*93
•Dec
71
Copper...Par $5
82
*71
22
.152*4 152% *l6o~
97
107
34
04% Apr
9534 Oct
116% Jan 23
397g Jan" 6
105
Jan
9
960 National
Do
preferred
250
*79
*107*2 117
25%
,25%
♦04
2
Sep 15
97% J'ne 10
55
J'ly IS
*11-
458
31
*25
100
*98
Jan
66% Sep 29
13
45%
105% 105%
15%
1534
♦57% >67
20*2
.-
26
110
83
89
44%
15-%
125%
125
90%
•
*25
.26
Dec
106% J'ly 22
21
J'ne 11
701.1
4434
"
125*8 125*2
*19
21*4.
Deo
90
195
79%
*05
71%
71*4
*20
*27*2
31
*27*2
Dec
63
3
91
11% *11
*105
161,!
<68
-•
£0*8
20
,31
126%
12
9
Feb
5
297b J'ue
8-4
11%
*79
44%
108
*105
•103
108
68
dMiami
Jan
9
Jan
1,700 Mexican Petroleum..
121
1934 May!
627« May
18% Jan
preferred....,
102
22%
Mch:
26
103
66
121
77S Moh,
Mch
15% J'ly
9% Jan
ar4578 Jan
94
84
*98
*116% 120% *1<G% 120
4
2
\xl50
66
120
4% Jan
19% Jan
7
12% Jan 30
4S% Jan 30
70
preferred
*98
50
7
J'ueii
May Department Stores.
Do
$10% Dec
823.j Sep
81
Sep
109% Sep !'
r.50'2% J'ne
$21% Oct
106% Oct 10
58
J'ne 9
Lorillard Co (P)
Do
preferred
"200
71
Feb
60% Dec
Dec
9
May
6
83
97
420
♦05
126
113
*66
100
103% §100
66
66%
6578
23
22%
227B
2234
2234
120% 122
§121% 121% *12038 124
10734 10734
16%
1684
♦20
*109
71
2d
30
791.4 May
S47
278 J'ne 10
4
preferred..
68
*6634
2234
*117
45
•28
*156
113
*66
103*4
♦98
118
118
82
167
*109
71
71
*65
23
2212
22l2
22*2
12314 123% *12034 123
•1171s 129%
*11%
1312
*156
113
*67
113% *110
♦65
160
*109
170
*160
Do
"166
Jan
22% J ne 13
500 Loose-Wiles Bis tr co ctfs
Do
1st preferred
167
2134 Sep
523j Sep
188% J'ly
42% .Sep
155
Dec
32% Oct 10
'600 Liggett & Myers Tobacco
Do
preferred
100
212
209
Do
Oct :
Oct
Deo
Aug
11% Feb
105
12% J'ne
6% Oct
-
Aug
37% Jan
7
Oct
.
110% Sep 17
U434 Sep 19
95% J'nelO
May 12
?
Dec
20
2
Jan
2
Aug 18
116
149%
22%
89I2
100%
36%
Jan
Dec
53% Jan
«
2038 Jan
3
111% Sep 15
111
200 Lackawanna Steel
•200 Laclede Gas (St L) com..
220
217
*209
*209
*209% 216
115%
115% *106
115% *106
115% *106
31
33
*31
31
32
31%
3134
*31®4
100
100
*95
100
*94
100
*94
*9.6
*85
*85 *
88% 88% *85
216%
♦112
111
Corp_
preferred
Jan
10
75
Oct
Deo
103% Oct i
$5038 Nov
4334 Sep !
Jan
23% Feb
±05% Jan
J'ne 10
May 12
96
..
•
Apr
Oct
33% Sep
Feb
50
$25
8134 Sep 30
68
Jan
2
4
4034 J'ly 11
14% J'ly 12
Pump...
Do
preferred
Kayser& Co (Julius)
Do
1st preferred
Kresge Co (S S)_
100
40
9
88% Sep
International Paper
Do
preferred
:
100
100
93*2
187
Int Mer Marine stk tr cts
Do
pref stk tr ctfs
100
38
100
12984 J'nelO
25
Mayl5
70
May 8
100 Internat Steam
100
*98
100
36
99
Do
300
85
*78
44
preferred
100 Internat Harvester
106% 106%
♦98
•9812
Do
120
86
106%
MchlO
200 Internat Harvester of N J
30
*78
J'nelO
Do
200
7%
*6%
♦23%
85
13
33
2334 Oct
lOio Feb
99% Dec
8
934 J'ne 10
_
997g Dec
135% Dec
94% J'ly
Smelt'g
Dec
84
6
Feb
Mch
Jan
Feb
Sep
Aug
40%
72%
95%
^01%
■
49% Dec
100% Jan 16
2134 Jan
2
18
Jan 22
61% J'ne 10
51% Oct *
89
149
Nov
14238 Jan
17% Jan 31
79% Jan 31
7% J'ne 10
preferred
2,900 dGuggenh Explor Par $25
d Insp'n Con Cop Par%20
2,200
90
30
*634
*23%
*78%
30% J'ne 10
24% J'ne 10
125% J'ne 10
i.i
2,936
Gen Motors vot tr ctfs
3,700
Do
pref v fc ctfs_
1,101
Goodrich Co (B F)
1,809
f
7
7*4
Federal Mining &
Do
preferred
30%
07%
47%
41%
127% Oct
C034 Aug
108% J'ne
102% Feb
2734 Feb
50% Feb
137% Mch
28
Oct
$48
Deo
49
8
103% Feb
J'ne 10
General Electric
81%
*43
pref
105% Feb
56% Feb 3
86
Jan 30
J'ne 10
Distillers' Securities Corp
"""166
*88"
43%
433s
15%
15%
15%
107%
107% *105
*78
84*2
8
Deere & Co
.
106*
Get
_
Leather
Do
143%
39%
38-%
81%
24%
90
*88
*23%
•
7
preferred
..
1,420
dChlno Copper
Par $5
22,000
Colorado Fuel & Iron
2,625
Consolidated Gas (N Y).
1,300
Corn Products Refining5,665
Do
preferred
.
725
15%
15%
*105
105% 105%
♦
115
*115
116
*1137S 115
*104% 107% *10134
*10434
114% 114% *11378 116
*114% 114%
*3
*3
4%
4%
*234
4%
*14
16
16
*14%
16
*14.%
7%
7%
*634
7%
6%
7%
34
33
32%
32%
32%. 321.1
~
15
*7*2
34*8
*634
38%
25%
142
1427S
1<*2
81%
4334 ' 44%
116
Aug
preferred
Thresh Mpftr cfs
$34
7
•
May
94% Mch
4133 May
,31
25% Jan
Feb
2
2
137% Jan 27
31
Feb 8
California Petrol v t ctfs.
Do
Dec
53%Jan
Mch27
Central
79
Sep 19
105% J'ne 6
41% Jan
9
74
Augl2
62% J'ne lu
121
J'ne 10
preferred
Brooklyn Union Gasj
97%
14
J'uelu
324%.J'ly
lOG-ig J an
Feb
Nov
120
100% J'ne 25
25
J'ne 10
preferred—
Aug
443s Oct
133% May
124
Sep
149% Mch
Jan
18
32% Jan„
41% Jan
" Jan
7
Sep 23
40
Do
14
*38
86
*78/
65
14
34%
7*4
30
*100
83
9%
16
'
*80
3978
32%
9%
67
*78
30
*100
*65
*96%
34%
*634
*23%
7%
*634
♦23U
934
9%
2,900
130% 130%
41
153S
15
8
*7
712
35J4
7i2
34
39%
*2734
28
*38
2434
108%
*234
40%
28
130% 130%
*11
*88
107*8 107%
114*e 114*2
107*2 107*2
"39%
*13
81
16
116
*114-% 116
116
92%
Aug
75.
•JL05
Jan
Jan
82
307g J'ne 10
200 Case (JI)
20
*90
14
44%
108% *105
108s8 *105
"26"
93
14234 144
38
38%
90
44%
20%
"26"
♦
16
Paper, pref
$25
Bethlehem Steel
1,050
9678
153S
26%
*15%
53
♦
40
81%
45%
1618
9578
*38%
*38
91
461s
1978
52%
52%
62%
♦
800
*96%
13%
1478
14
40
*88
91
1618
54
20
115%
137%
241%
101%
23% Sep 27
Butterick Co
2734
,
*11
97%
16%
16
25
46
♦90
31
10*4
26
25
41%
*11
3834
144*4 144%
3834
39*4
81%
81%
26%
26%
9278
*9678
14
38«4
82%
95%
95*4
213#
20%
92%
92%
41%
3978
28«4
28%
13012 130%
934
10
66%
66%
97%
*9684
131*4
16%
*3812
*52
j
*26
21
9578
*65%
97*4
15
♦11';
4,500
1,300
130
*126
2734
*20
53*2
10
10*2
66I4
10*8
*26
21
2134
131
131% 132
132% 132%
10%
10%
67%
41%
2734
*26%
21%
130
*126
21
53%
9578
21*4
9278
40*2
*28*4
5412
5412
106
♦93
130
*126
2734
*26*2
21%
2734
*26*2
Do
105% *103
105% *103
105%
30
31%
3034
30%
30%
70
71
70
7078
*69%
*69%
307B
116% Jan 28
140
Jan
3
29434 Jan 10
106% Jan 27
6
16% J'ne 10
74
May 7
aAnaconda Cop Par
300 Assets Realization
Baldwin Locomotive
9,050
Jan
113% Dec
J'ly 11
96
new..
100 Amer Writing
17
*1578
J'ne
Feb
26
40% Feb 3
Jan 31
US
122% Oct- 10
200
Woolen——
400 American
Do
preferred—,
600
*103
32*2
44
106
130
17
*40
*103
31*2
*40
*103
72
80%
80*2
*157g
16*2
Preferred,
9
Highest
99
Jan 21
105
6
J'ne
110% J'ne 12
preferred
16,895 Amer Telephone & Teleg
American Tobacco
2,010
210
*99
J'ne
25
10434 J'ne 12
__
230
23
36%
•5412
230
101
81*2
*27
22484 228
232
*20
16%
35%
3334
122% 12334
*224
Do
100
115% 11538
123% 124%
123% 12434
101
8034
81
*113% 115% *113% 115%
24
84
17
36%
♦126
109%
101
*80%
♦16l2
71%
28
109
*21
25
323g
*27
111
101
♦22
*75
28
*109
100
300 Aroer Snuff pref (new) —
400 Amer Steel Pound (new).
1,300 American Sugar Refining
105
*27
109
22
22
36%
.
124% 126
228
23434
125% 126%
♦99
28
109
27
111
1261« 128
102
*99
105
*26
27
110
♦113
*95
100
100
*109
27%
27%
30
*2714
100
100
102
♦100
Precious
Lowest
Highest
Lowest
Shares.
for
Year 1912
100-s/»arc lots
0/
abare.
f^ale
«$
v
'
BONDS
f. STOCK EXCHANGE
Weak Ending Oct. 10.
f
Price
Week's
Friday
Range or
Since
Oct. 10
Last Sale
Jan. 1
Range
BONDS
STOCK EXCHANGE
Week Ending Oct. 10.
Street Railway
Brooklyn Rapid
Tran
it refund conr gold
k
g
is
5a_1945
2002
100
J-J
86% Sale 86%
88
100% 102
100% Sep *13!
98
98
Apr *13'
101
May* 13]
~{>9 "
99%
99%
9»l4 100
99*4 Sep '13
81% ...J 81% Sep '13
82% 82% 821s
82is
74
77
76% Aug *13]
97ia 98%] 98
98
pBklyn
Q Co A S 1st 5s._.l941 J-J
Bklyn Un B11st g 4-5a
1950] F-A
Stamped guar 4-5s
Kings County El 1st
1950 F-A
g
4s_1949|
V-ii tamped guar 4a
__1949
Nassau Elec guar gold 4s_1961
^
(Chicago Rwya 1st
5s
1927
Donn Ry A L IstAref 5g
4Mb *51
"-Stamped guar 4^s
1951
pet United 1st cons g 4Ms-1932
jrt
F-A
F-A
J-J
F-A
J-J
J-J
J-J
SmJth Lt A Tr 1st g 5s._193&
6IM -8
rand Rapids Ry 1st
g 5s__1916 J-D
iavana Elec consol g 5s_
1952 F-A
tearboro-M etrop
No price
coll 4Hs_1956
A-O
Friday: fateat this week,
Week's
Friday
Range
Oct. 10
Range
Since
or
Last Sale
Jan. 1
Street Railway
A-O1
City lit con 5a__1010-1941 J-J
QOo&S con gu g 5a
1941 M-N
Price
Y.
70
10084] 100%
71
101%
96%
70%
101%]
71
d Due April,
98
101
99% 101%
99% 101%
81% 82
81% 86
75
,J'ne'13
76%
e Due
77%
68
98~
99%
75%
May!
98
981]
187
Stamped
98
71
81%
t Due
June!
.r-D
~
-
Third Aye Ry 1st g 5s
1937 J-J,
Met W 8 El (Chic) 1st g 4s. 1938 F-Aj
Milw Elec Ry A Lt cons g 5sl926< F-A
Refunding A exten 4 Ha
1931 J-J
Minneap St 1st cons g 5s
1919 J-J
•'
6 Due July.
* Duo Aug.
105
90%
90%
Sale 104%
91%| 91%
93
50
___
Bway A 7th At 1st e g 5a.l943
9th At 1st gu g 5s..1993 M-S
EW
awe
9
IftQ*
Lear AT A P V
Wpil,
Third At BR cons gu 4s—2000
Central Trust Co certifs
Cent Tr Co ctfa stamped
Ool
UU1 A
«
98%
*95%
10
Rap Tr 5e Ser A.1952
Manhat Ry
78
96
93%] 93% Aug'13]
75^4 Sale
(NY) cons g 4s_1990 A-O
Stamped tax-exempt
1990 A-O
Metropolitan Street By—
Refunding gold 4s
2002 A-O
Farmers Loan A Tr ctf
Apr'12
98
Interboro
84% 92%
99% 102%
101
61:
M-N
99%103%
98
J'ne'iaj
J'ne'lSJ
93
"96 "
A
101
98%
98%
102
....
...
372
4
64
May'12]
62% Jan '13
69% Mch '12
101
Sep *13
98%
98%J
97% May'13
74
J'ly'12
74% J'ly '12i
74
lot" 106%
105
93
88% J'ly '13
104
|
102% 1Q5
86% 95
87% 95%
62%
100
:
65%
£55%
98% 99
97%JUNL
NOT'12
Sep'li
93% J'ly 06
nzi io3%i 101
92
• Due Oct.Due Nor.
91
J'ne'd
Apr 'lJ
102
NOT'IE
fDueDeo.
ioo%i^T
94
91
aOptfoottl*
;
J
OCT. 11
Prist
Week's
STOCK
Y.
EXCHANGE
Range or
Last Sale
Since
Oct. 10
10.
Week Ending Oct.
1937
1959
\
1st guaranteed 4s....—1959
ICin D & 1 1st gu g 5s
1941
C Find & Ft W 1st gu 4sg_1923
Cin H & D 2d gold 4.^8
I 1st & refunding 4s
\Oin 1 & W 1st gu g 4s
1953
tJDay& Mich 1stcons4Hs-1931
! lnd Dec & W 1st g 5s
1935
<
1st guar gold 5s
.1935
Cleve Cin C & St L gen 4s..l993
t20-yr deb 4Hs
1931
[Cairo Div 1st gold 4s
1939
ICm W & M Div 1st g 4S..1991
1st L Divlst coll tr g 4s—1990
III! "90"
\
ConsoJ sinking fund
General consol gold
>
6s—1934
1934
Registered
Ind B & W lstpref4s
O Ind & W 1st pref 5s
Peo & East 1st con 4s
'
1940
dl938
1940
1990
Col Mid and 1st g 4s
1947
Trust Co. certfs. of deposit
Colorado & Sou 1st g 4s
1929
t Refund & ext 4 Hs
1935
?FtW & Den C 1st g 6s_._1921
Income 4s
1st ref gu g 3Ks-._
N Y Lack & W 1st 6s
Construction 5s...
<
(1st & ref 4s
100% 101%
Extended 1st g 3^s
120" 120"
1st gold
1
.2000
1st ref 4s
49%
25
36%
J'ly *13
25
26%
> 92%
89
947g
90%
94%
Gold
Det Riv Tun-Ter Tun
4Hs_196l
2d
107%
106%
97%
96%
95%
85%
113%
82%
F-A
J-D
J-J
J-J
J-J
2d ext gold 5s
3d ext
...
112
Ill
•
90
J-J
F-A
M-N
1940 A-0
1942
& 1st 1st
6s
1921
SV & IndT H con gu g 6s .1926
cons
vans
1st
t
general gold 5s__
Mt Vernon 1st gold 6s
Sull Co Branch 1st g 5s
'
..1942
J-D
J-J
J-J
Ft W & Rio Gr 1st g 4s
Great Northern— 4s
O B & Q coll trust
Registered
>
1923 A-0
1930 A-O
J-D
h
J-J
1928 J-J
1921 J-J
.1921
lst& refunding 4Ms ser A 1961
?:J
Registered
1961
8t Paul M & Man 4s
1933
. 1st consol gold 6s
.1933
Registered.
..1933
Reduced to gold 4MS.1933
Registered
..1933
;
88
J
J
J-J
J-J
82
82
2d
96% 99%
104% 104%
109%115
..
M-N
ldi"
109" 109"
Aug *13
Oct *13
82
87
84
Aug'13
84
84
73*d
73
72%
77
11
6678
41
66
173
101% Sep '13
101% 103
QQ
100%
103% Aug 12
96
J'ly *13
96
loo"
73
90
100% Dec
75
80
...
100
124
102'
96""
Aug'13
107% Feb *13
06
101%
81" "87
81
102
77%
12*"
107% 108
....
95%
101
106
111% Mayl2
Aug'13
98% 93
May'lS
106
1Q8
I... 105 Aug'13
Sep '13
100% 100
108
92
95% Sep '13
92
Aug 10
"97
9454 Sale
98
9878 101%
J'ne'12
IIII "70
....
94%
Sale
97%
94%
119%..,.
"92"" "9634
Mar'13
"72"" "76"%
72
95
94%
94%
94%
98
96
-
98
120
7
11
93
96%
927g
96
96% 100%
96
96
J'ne'13
98%
93%
93% J'ne'13
119
Sep '13
118
124%
117% 119%
117% Aug'13
Sep *13
101% 104% 102
108% J'ne '09
100%
115
"no
Nov'll
95
W "99
105
tv.
83%
75% Sale
99% 104%
79
55%
266
51%
60%
101
101
95
Mch'13
95
90
98
NOV '08
96%
M-N
88
.1048
95%
Louisiana & Ark 1st g 5s
Louisville & Nashville—
General gold 6s
United RRs San Fr
s
...
...
102% Aug'13
J-J
87
93%
71 •'
92% Aug '12
98" J'ly"'08
"87" " "95%
92
9378
102%107
88% 99%
52
64%
May'13
92
102' ids
103% Aug'13
90%
90%
90
93
55
Sale
55
55
9078 Sep '13
70
70
907,
70
Oct '00
63
"05" "96
«
92%
1027«
101%106%
97
102%
100
104
....
ldd" 104%
100% 100%
....
107" IIII
100% Sep '13
93% Sep '13
111
May'13
Sale"
111% Dec '11
102%
102%
100%
....
102%
M-S
M-S
A-O
A-O
Q-J
Q- J
84
93%
97%
110%111%
102%
105"%
J'ne'12
93
....
96%
90
92%
10278
Aug *13
100% 104% J'ne'12
100%
100%
100%
....
72
'95 " "99""
96%
96
92%
102%
94
68
93%
Iod%II
I6l'% Feb'lO
99%
101%
100% Sep '13
88
...
83
107
96% Mch '12
88
Auir'13
88%
93% 100
108
86" "94 "
96% NOV'12
99% Oct '06
87
85%
100%100%
Mch'13
107
...
86
84" "80%
85%
85%
"90" "95"%
104% Dec '08
91% Sep '13
96
Jan'll
160" III
110% Nov'06
"96 "
103
Jan '13
103
103
104
98%
100
89%
Apr'13
Aug *13
104
104
104
87
92%
89
111% 114% 111% Sep '13
111
Mch'13
105%
93%
94%
94% Sale
93
Sep'13
92%
103
Aug '13
104
105
J
93%
110% 114%
110%111
114
91% 99%
93
93
....
J'ne'13
106% 109% 105
104% May'12
113% 117% 120% Mch *13
114% Feb '13
.91
J'ne'13
108
F-A
105%
IIII
107
109
105% Mch'13
J'ly '13
109
62
69% Sep
70.
87
88
12
88
Oct '13
103%
111,
101%
106
Jan '13
Apr '11
87
87
Sale
98% 100
87
87
103% Feb *13
83
Sep '13
95
Feb '05
106 " 100% Aug'13
99%.... 101% Jan '13
110% Oct *12
110
103""
107
104
103
106%
105
106
120% 130"%
114% 114%
91
91
105% 105%
109
109
"87"% "92%
111
110
"87" "92%
103%
103
81
90
100%
100"%
101%101%
mmrnm
m~rnm
109%J'ly '12
91% Mch *12
....
83%
56
1927 A-O
5s__1934 J-J
73% Mch'13
69
Sep '13
56
56
05
95
71
69
1924 A-O
_
90
_
May'13
73%
7334
69
72
51%
93%
67
95
1947 J-D
100%
105%
106
105%
J'ne'13
101% 106%
54
54
90
con
1st g 5s
1932
1923 J-J
"
" F-A
J-J
EqGLN Y 1st con g 5s_
Gas & Elec Berg Co c g 5s._
Gr Rap G L Co 1st g 5s
J-D
d Due April,
A-O
b Due July.
"98% Oot~'13
99%
98%
96% Sep
101
m
mt
m
106% Oct
107
100
100
101
102
93%
m
94
98%
ldd"
"99"
102%
12
Feb '13
Oct *09
102% Oct *13
mm
94%
* Due Aug. o Due Oct.
'08
101% Sep *13
09
F-A
M-N
54
55
M-S
83
Feb.
Oct '09
74%
69%
102% 105%
Feb '11
90
"83 " III
Det Edison 1st coll tr 5s
0 Due
114
106
96
Jan.
87
104%
100
J-J
92%
a Due
94" "94"
Qas and Electric Light
Det Gas Co.
price Friday; latest bid and asked this week,
"77%
77%
Nov'00
117% Ma'y'lO
94% J'ly '12
1934 J-J
Columbus Gas 1st g 5s
Detroit City Gas g 5s;
----
81
;
95
Bklyn U Gas 1st con g 5s._1945 M-N
Buffalo Gas 1st g 5s
1947 A-O
99%
J'ne'13
97
70" "Ifd"
...
f 4s
79
71
83
81
94" Feb"'13
"85% III
1927 M-S
United Rys St L 1st g 4s
8t Louis Transit gu 5s_.
82%
87% Sep *13
84
Oct '08
79
Next Page.
77%
....
"96 "
Railway
95
Sep '13
96%
88%
93
106
1920 M-S
6s__1921 M-S
2d gold 3s
1980 M-S
Atl Knox & Cin Div 4s___1955 M-N
Atl Knox & Nor 1st g 5s__1946 J-I
Hender Bdge 1st 8 f g 6S..1931 MKentucky Cent gold 4s
1987 JL & N& M & M lstg4>4s 1945 ML & N-South M joint 4s
1952 J Registered
4
Til952 QN Fla„& S 1st gu g 5s__.__l937 FN & C Bdge gen gu g 4J^s 1945 JPens& Atlistgug6s
^.1921 FS & N Ala con gu g 5s.
1936 FL & Jeff Bdge Co gu g 4s...1945 M-
63%
96
"74% IIII
100
Pensacola Div gold 6s
St Louis Div 1st gold
53
94
93%
17
77% Sep "'13
101% Oct '99
J-J
J-J
Paducah&Mem div4s...1946
Va Ry & Pow 1st & ref
103% 103%
96% Sep *13
"78 " III.
1930 J-D
Gold 5s
1937 M-N
Unified gold 4s
1940 JRegistered
1940 J Collateral trust gold 5s...1931 M-N
E H & Nash 1st g 6s
...1919 J-D
LGin& Lex gold 4J^s
1931 M-N
NO&M 1st gold 6s
1930 J NO & M 2d gold 6s
1930 J-
"96
74
66%
1932 J-D
75%
96%
70%
1922 M-S
103% Feb '13
79
80%
Sale
73%, 74%
74%
"99""
1938 J-D
4s
Atlanta G L Co. 1st g 5s
IIII102%
Union Elev (Chic) 1st g 5s. 1945 A-O
United Rys lnv 1st lien coll
trust 5s Pitts issue
1926 M-N
85*4
72%
Jan '13
►
No
85
"25
64
54% Sale
101
97
101
79
•
85% Feb '13
75%
75
67
1949 M-S
J-D
M-S
Registered
1949 M-S
N Y B & M B 1st con g 5s_1935 A-O
N Y & R B 1st g 5s...... 1927 M-S
Nor Sh B 1st con g gu 5s_ol932 Q-J
103% 103%
...
83%
Debenture gold 5s.......1934
Guar ref gold 4s
..1949
105%111
...
88%
Unified gold 4s
82%
65
77
....
J-D
gold 4s
Ferry gold 4^s
85"% "do
88%
09
91
79
J'ly '13
83
94
Sep '13
92
94% Jan '11
92
947g J'ly '12
75%
76% Nov'12
81
May'13
84
83
Aug'12
III. 123 May'99
70
J'ly'13
75% Mch *12
77
F-A
Gold
General
76
Apr *12
87% Oct *13
73% Sale
73%
74%
71%
72%
71% Sale
102%
103% Oct *13
107%
107% Sep '13
101
109% 109
May "12
121
122
J'ne'13
99
Dec '12
107% 106
88
88%
95% Sep '12
J-J
J-J
...
~887g
88%
90%
F-A
4s...1945
..1945
El O & N 1st pref 6s
1914
Gold guar 5s
1914
Long Isld 1st cons gold 6s.ftl931
1st consol gold 4s
61931
Registered
Jan '12
85
72%
SThird Ave
st ref 4s
1960
Adj inc 5s—
al960 A-O
Tri-City Ry A Lt 1st s f 5s_1923 A-O
Underground of London—
i;.4Hs
1933 J-J
Income 6s__,
"91" Sale"
A-O
Leh & N Y 1st guar g
J-J
•
A-O
1933 J-J
1st lnt reduced to 4s
103
idl" 103"%
109
F-A
J-J
J-J
§6" J'ly"
..1941 J-J
5s
" i"o"2% :
88%
94" Sep"'13
.1959 J-D
'
Street Railway
A-O
"66"% IIII
"89% "95"
M-S
M-S
A-O
J-J
Registered .............1940 J-J
Lehigh Vail (Pa) cons g 4s_2003 M-N
Leh V Ter Ry 1st gu g 5s
1941 A-O
Registered
.1941 A-O
Leh Val Coal Co 1st gu g 5s_1933 J-J
Registered
1933 J-J
103% 103%
Sep *13
100
gold
Street
30-year adj inc 5s
al942
Portland Ry 1st & ref 5s
1930
Portland Ry Lt & Pow 1st
& ref conv s f 5s..;.
1942
1 Portland Gen Elec 1st 5s_1935
BtJos Ry, L, H& P 1stg 5s 1937
Bt Paul City Cab consg 5S.1937
A-O
North Ohio 1st gu g 5s
1945
Leh Vail N Y 1st gu g 4 %»s_1940
100
100
MISCELLANEOUS BONDS—Continued on
New Orl Ry & Lt gen 4 .^8.1035 J-J
N Y Rys 1st R E & ref 4s 1942 J-J
"74% IIII
A-O
Ref & impt 5s
Apr 1950
City Term 1st 4s
1960
f ake Erie & W 1st g 5s
1937
85
....
J
Sep '11
887g Feb '13
88% Feb 13
93% May'09
J-J
Kansas
92%
92%
100
Mar'13
100
101%
92" "92*1
100
Kan City Sou 1st gold 3s_.1950 A-O
Registered,......
1950 A-O
111
84%
A-0
Florida U D Co 1st g 4 A»s .1941
1959
ort St E Coast lst.4%is
81
84
109
F-A
Wilk & Ea 1st gu g 5s
85%
78
"
101% 102% 101
J-J
Mid ofN J 1st ext 5s..
79%
Jamestown Franklin &
Clearfield 1st 4s__
99% Oct '12
100
M-N
1943
84%
99
"83% IIII
1951 J-D
.1931 M-S
1950 J-J
1919 M-N
1938 J-D
1951 M-S
Refunding gold 4s
101% J'ne'11
103
Feb 13
" III
101
J-J
1937
1940
67
103% Feb *13
110
Aug 12
111
Sep '13
...
101%
M-S
97%
94%
J-J
J-J
J-J
4s.__.1951
Ind 111 & la 1st g 4s
lnt & Great Nor 1st g 6s
Iowa Central 1st gold,5s
...
98%
(Long Dock consol g 6s
1935 A-O
Coal & RR 1st cur gu 8s._1922 M-N
-
95
20
g
St L Sou 1st gu g 4s
9573
85
Sep '13
wo
»u
....
M-S
1946
1937
90
104% Mch lS
100% 101% 100
Mar'lS
106% Mch *08
98
104
Feb '11
M-N
83%
J-J
96""
100
100% Sep '08
02
Apr'13
92% Apr '13
100% Deo *12
97
88
F-A
1951
1951
1951
Registered
*80% "89%
14
100%
J-J
1943
Memph Div 1st
84
,
{Dock & Imp 1st ext 5s
88%
ne'ls
.
■
"*N Y & Green L gu g 5s
N Y Sus & W 1st ref 5s
V
2d gold 4^s
t- General gold 5s
Terminal 1st gold 5s
99%
83
Sep *04
M-N
5s._1938
93%
Apr '13
A-0
,
.Clev & Mahon Val g
101%
Jan '08
1920 A-O
1928 J-D
N Y L E & W 1st g fd 7s
1920 M-S
Erie 1st con g 4s prior....1996 J-J
Registered
1996 J-J
,1st consol gen lien g 4s
1996 J-J
i
Registered
..1996 J-J
Penn coil tr g 4s
1951 F-A
\ 60-year conv 4s A
1953 A-0
do
Series B__.
1953 A-0
,Buff N Y & Erie 1st 7s
1916 J-D
(Chic & Erie 1st gold 5s
1982 M-N
'
97
80
78
M-N
1947
1919
1923
"95"% "98
104%110
85
95%'
Oct *13
99"
Sale
100
J-J
J-J
Bellev & Car 1st 6s
1923 J-D
Carb & Shaw 1st g 4s.-_.1932 M-S
Chic SlL&NOg 5S.....1951 J-D
Registered
1951 J-D
Gold 3Hs__.
1951 J-D
Registered
..1951 J-D
iic%
107%
124%
105"% 109""
May'13
86,
90
86%
A-O
J951
3^8
Registered
Mch '08
80
A-0
g
Western lines 1st g 4s
97
94
90%
85
M-N
N Y & Erie 1st ext g 4s
102% 106%
May'06
J-J
...
Spring Div 1st
Registered
111%
108
....
90%
72%
73%
109
Dec 12
77% 61% Apr'11
Elgin1st consol gold 7s 5s..1941 M-S
Jol & East 1st g
rie
1920
gold 4 Hs
4th ext gold 5s
5th ext gold 4s;
102% Feb 03
107% Aug'13
149
Aug '01
Sale
97%
97%
09% 99% Sep '13
97
95
Sep *13
86
86%
86%
121% May'12
83
83%
83%
90
J'ly '13
90*4
73% Sale
J-D
1937
g5s
84" "84
....
1937
So Shore & At
Du
105%
.
108% Sep *13
71
.1916 J-J
6s_
103%
104
.
10
103it 106% 102% J'ly '13
94
Aug '13
94%
ul Missabe & Nor gen
1937
Bui & Iron Range 1st 5s 5s_1941 A-O
Registered
108
101
84
84
108%
J-J
'
104
11138Dec
A-O
f
....
101
J'ly '13
J-D
1995 J-D
4s
102
105%
101
"84" "88
J-J
M-N
1995
1917
....
1027,
J-D
.1939
Mtge& col trust 4s A
1949
Utah Cent 1st gu g 4s_al917
92%
120
Sep '12
J'ly '13
104" IIII i04% J'n"e"'i3
J-D
J-J
Purchased lines S^s_.
L N O & Tex gold 4s
92
....
105%
J-J
J-J
1955 M-N
1952 J-J
J953 m-N
Registered
1953 M-N
Cairo Bridge gold 4s
1950 J-D
Litchfield Div 1st g 3s
1951 J-J
Louisv Div& Term g 3}^s 1953 J-J
Registered
1953 J-J
Middle Div reg 5s
_1921 F-A
Omaha Div 1st g 3s
1951 F-A
J-J
St Louis Div & term g 3s_1951
Registered
1951 J-J
Gold 3^s
1951 J-J
Registered
1951 J-J
89
35
26
82%
J'ly '13
Sep *13
79
35
loo" Ma'y'io
101
J-D
Rio Gr West 1st g 4s__
et& Mack Ry 1st g4s
Bes Moi Un 1st lien g 5s
3s sterling..
Registered
Coll trust gold 4s
Registered
"j'ly" 08
92% 92%
107% 105%
106
1921 J-J
1923 F-A
..—1040
Guaranteed
-1951
1951
1951
1951
1952
1952
Registered
82%
"91% "02"
92
119
1951
100%
J-J
1955
1939
1940
Rio Gr June lstgu g 6s
VRio Gr So 1st gold 4s
103
96%
J'ne '11
114%
120%
136%
105%
108%
J-J
J-J
..1951
1951
Registered.
gold 3Hs_.
Registered
1st
28
J-D
1928
list & refunding 5s_.
,
I
26
F-A
M-N
J-J
.....
36
1946 A-0
.1921 M-N
4s_.1936 J-J
1936 J-J
\ Improvement gold 5s
'07
89
A-O
——61952
;
102
94
97
92
02% Mch *11
97
Sep '12
consg4Hs._1999
1999
Col & H V 1st ext g 4s._-.1948
Col& Tol 1st ext 4s
1955
HousBelt& Term 1st 5s
1937
T llinois Central 1st gold 4s_195l
Registered
102
~82~ig "84*
Alb & Bus conv 3 Hs
Rens & Saratoga 1st 7s
Denv & R Gr 1st con g
i
Consol gold 4 3^s
Registered
11
do" "do"
82
98
High
IjOW
1
94
94%
94%
TTock Val 1st
89%
91
No.
High
Ask Low
94
94
92%
87%
J-J
1937
1937
1937
120" Mch" *13
J-J
191C
1922
1943
•
90
89%
83%
10478 105%
100% 101% 100%
1917 M-S
l10-yr conv deb 4s
1st lien equip g 4Hs
90
Mch'13
101i4
Jan. 1
J-D
5s...1938
tg5s_.61952
Gulf& S 1 1st ref &
10478 Mch'13
97% Nov 12
102
Term & Improve 4s
1923 M-N
"Warren 1st ref gu g 3^s--2000 F-A
Del & Hud 1st Pa Div 7s...1917 M-S
...
92%
81" ~82~
90
'
Registered
87%
Sep '13
Apr '12
92l2
Since
Last Sale
J-D
Will & S F 1st gold
92%
Oct
91
10478
92l2
1915 J-D
1915 J-D
Registered
\
01
n
Del Morris &Western
el Lack &
Essex Ist7s.l914
1st consoi guar 7s
"86%
82
"86 "
82
M-N
v
Mont C 1st gu g 6s
Registered
Mch'13
Apr
1943
1952
t
Minn Union 1st g 6s
1937
1837
1940
4s 1948
1822
1937
Registered
1st guar gold 5s
89% Feb '13
83% Sep '13
A-0
Conn & Pas Rivs 1st g 4s
Cuba RR 1st 50-yr 5s g
100%
86%
87
84
8212
J-D
J-J
J-J
A-0
7s—1914
ext guar 4s-£
E Minn Nor Div 1st g
11
86% Feb '13
M-N
33
1CCC & Iconsol 7s
"v;
97"%
97%
90
8778
80l2
83i2
J-J
1923
1914 J-D
Oin S & Cl con 1st g 5s
i
Registered
107% Dec *02
87
Sep '13
Sep '13
89i2 89
M-N
gold 4s
Pacific
IIII100" 103" Dec'12
..*1936 Q-F
*1936
Registered
•
Mont ext 1st
:::: "87"
Registered
...
1990 M-S
ySpr & Col Div lstg4s_...1940
(W W Val Div 1st g 4s
1940 J-J
M-N
to I St L&,C consol 6S....1920
1st gold 4s
Mch
WeeV.
Range or
Bid
M (Continued)—
St P M &
High
Low
J'n"e"'i2
88
J-J
J-J
)
;
86%
97%
Safe'
9712
M-N
J-J
J-J
J-J
J-J
J-D
No.
*12
91%
J-i
J-J
M-N
,
.
100% Oct
00%
£3
Oct. 10.
Week Ending
Jan. 1
High
Ask Low
Bid
J-J
EXCHANGE
STOCK
Y.
N.
Range
Price
Friday
Oct. 10
BONDS
Range
Friday
BONDS
to.
1009
Record—Continued—Page 2
New York Bond
1913.]
Aug'13
s Option ale.:
100
~ ioo"
101"
94
103%
94 i
1010
In.
v
Y.
New York Bond
BONDS
STOCK
Week
Prict
EXCHANGE
[i anila RR—Sou lines 4s_1936 M-N
ex internat
1st con g 4s 1977 lvl-S
Stamped guaranteed
1977 M-S
StP&SSM
Range or
Jan. 1
90
54
92
lOO.g
69%
71
101
..
97
89
92
76
76
Mch '05
"90" "93"%
100
106
....
95
Jan '13
112% Sep
11234 Jan
82
Sep
107% J'ne
'13
"83"%
96
112% 117%
11234 11234
'13
'13
*13
80
857g
107%109
108
....
111
105
1027S 104% 105% Jan '13
70
Sale
101
62" "88%
Feb '13
76%
967g
967g
55
75
76%
77
—75
1111*59*
48
J'ly '04
Sep '13
Aug'13
48
48
45
83% Sale
82% 84
90% 90%
MaV'13
837g
Aug '13
90% Oct *13
82
03
80%
80
Sale
80
77
80
82
27
81
103
77%
79
77% May'13
98
Apr *13
99
May'll
90%..i.
76
100*1'
—
mm
75
88
Trust Co ctfs
*83%::::
87%
983g
mt'mimm
mm mm
lstg5s__1927 A-O
N Y & Pu 1st cons
gug 4s_1993 A-O
Nor& Mont 1st gug 5s
1916 A-O
•Pine Creek reg guar 6s___1932 J-D
(R W & O eon 1st ext 5s_ Jil922 A-O
(Oswe & R 2d gu g 5s_
cl915 F-A
98%
Dec'12
1st gug5s_.1918 M-N
(Rutland 1st con g 4Hs___1941
Og& LCham lstgu4sg 1948
T Rut-Canad lstgu g4s__1949
StLawrfc Adir lstg 5s.__1996
2d gold 6s
J-J
J-J
J-J
J-J
1996 A-O
\UtiCa& Blk Riv gug 4s..1922
(Lake Shore.gold 3Ks
1997
Registered
..1997
\ Debenture gold 4s
1928
V
25-yr gold 4s_.
1931
A
Registered
—.1931
KaA& G R lstgu C5S..1938
104
107
Feb '13
---
95
92
Aug '13
92
131% Jan '09
103%
103%
97% Sep '13
mi
107
98% 100
101
77
10*5**168
Mahon C'fRR 1st 5s
Pitts & L Erie 2d g 5s
1934
J-D
J-D
103% 110
1931 M-S
88%
84%
88
93%
92%
McPIl
114" nil
no
....
100%
10134.... 111
119
100%
R
Registered
Jersey Cent coll g 4s
Atlan City gu 4s g—
Jan '12
J'ne '06
98
Apr ,'12
98% Nov'11
Registered
1940 J-J
S 1st gold 3Hs.^_1951 M-S
vtst gold 3^S
1952 M-N
t
90
80
94%
87%
95%
91
93
91%
8478
96%
94%
„
1931 M-N
8634
97
....
82%
99%
89
93%
99%
97%
97%
83%
93
89.
98%
90
91%
100% J'ly '11
86%
84
97%
Ed ElIUBkn lst
Lac Gas L of St L
con
g 4s_1939
J-J
Istg5s_el919 Q-F
Ref and ext lst g 5s
1934 A-O
Milwaukee Gas L lst 4s_—1927 M-N
Newark Con Gas g 5s
N YGELH&Pg 5s_.
I
'
Purchase money
g
1948 J-D
1948 J-D
4s.
1949
F-A
Ed El 111 1st cons g 5s
1995 J-J
NY&QE1L& P lst con g 5s 1930 F-A
|N Y 8c Rich Gas 1st g 5s
'Pacific G & El Co Cal G &
j Corp unifying & ref 5s
"ft* No
100%104% 101% Oct *13
110% 112% 112%
112%
Dec '12
124% 122
86%
and aeked.
101%104%
107
*
HO
lOO" IIII
100
.
.
.
97%
J'ly '13
J'ly '13
Aug'13
_
92% Feb '13
....
I"II
Sep '13
May'13
Sep '13 I
Sep '13
....
Jan '05
....
102
....
J'ly'13...
109% J'ly '09
91% Feb '12
*86 " II1I 90% Oct '1*
86
90
May *08
86% Sep *13
90% J'ly '12
101% Feb '13
...
88
*95*" IZ'.
100%—!1109
98%
98%
May'io
102% J'ne'12
102% Nov'12
95% Sep '13
...
92
100% l0078 101 - Sep *13
100% 100% 10034
10034
98%...r 106 J'ne'11
94% 96% 92% j'ne'13
88
92
____
104%
...
90
Apr '13
95% Jan '13
97% Jan 13
106
J'ne'13
106
mi *9*5"
61921 M-N
1955 J-J
1955 J-J
2
*10
Feb '13
93% Jan '11
Jan *13
54
"45" *48*
90
45
Sep '13
98
...
Oct '12
100% Apr '13
100% 104
91
96
96
96
92
___
Feb '13
91%
Sep '13
—
mi "69
69
95
65
Aug '13
Apr '13
113% Nov'11
Sale
94%
95%
96
92
94
Sale
94
106
1940 A-O
1943 J-J
1997 J-J
1997 J-J
1951 A-O
1951 J-J
82
107
J-J
J-J
J-J
M-N
108
99%
73%
76
50
94
"80 " Aug"'13 IIII
107
99%
99so
72% J'ly '13
52
,Sale
52
64
o*
54
t>*
........
...
J'ly'13
107
52
02
93%
70% Sale
...
108
...
_.
53
55
Sep 13
sep '13
94
94
94
70
70%
80% Mch'11
I
H
..
Next Page.
88% Apr '13
100% 10058 Sep '13
99% 100
99% Sep '13
90
90% 897a Sep '13
102% Sale 102%
102%
102
102% 102
103%
88%
100
84
107
85
83%
....
9978 101
93
....
99
a
Sale
95
.
100
99
883s
84
93%
94% Mch'13
88%
102%
102
90
82
86%
106% 108%
99% 101%
114
Ch G-L & Cke lst gu g 5S.1U37 J-J
Con G Co of Ch lstgu g 5sl936 J-D
Ind Nat Gas & Oil 30-yr 5s *36 M-N
101
Mu Fuel Gas lst gu g 5s—1947 M-N
conv 5s...1919 F-A
99
6s
23
91
94%
96
94%
e Due
May.
q
112
99% Sale
•
«*
m
m
-
100%
92
-
mmmm
m
Syracuse Lighting lst g 5s—1951 J-D
Syracuse L & P 5s
—1954 J-J
Trenton G & E lst g 5s
1949 M-S
Due June,
g
5s
b Due July.
1950 J -J
1957 J-4
1950 {J-D
0 Due Oct.
mmm
mmmm
~
m
mm
191
.
99%
5
Sep *13
1
2
99%
Mch'12
mmmm
96
94%
100
mmmm
mmm —
...
mmmm
mmmm
95
mmm m
Aug *13
Sep '13
93
J'ly '13
94%
94%
101
Dec '11
85% J'ne'12
100
Feb '01
97
J'ne'**
92
J'ne'13
116%
99% 1017,
99
101
99%
93
112
Aug '13
99%
99
99
95
Conv deben g 5s...
.—1922 M-N
Stan Gas & El conv s f 6s—1926 J-D
Utica El L & P lst g 5s
Utica Gas & E ref 5s
....
Sale 111
99
Philadelphia Co
Westchester Ltg
b Due Feb.
con g
Union Elec L & P lst g 5s—1932 M-S
Ref & ext 5s_..-1933 M-N
...
Due Jan.
1943 A-O
—1947 M-S
—1947 M-S
Peo Gas & C lst
Refunding gold 5s
101% 102%
100% 103%
106% Apr '13
101
Sep '13
92% J'ly *09
93
114
Registered
..
1921 M-N
price Friday; latest bid
.
Gas and Electric Light
E
1937 M-n
;Pac Pow & Lt 1st & ref
20-yr
L 5s Internat Series
1930 F-A
Pattfe Passaic G & E 5s
1949 M-S
on
95
95
86%
A-O
J-J
Registered—...———1951 J-J
MISCELLANEOUS BONDS—Continued
Gas and Electric Light
Kinfes Co El L & P g 5s
1937 A-O
I
Purchase money Gs
1997 A-O
i Convertible deb 0s
1922 M-S
.
'13
*12
101% May'12
92
—1931
—-1931
St L & S F RR cons g 4s—1996
Gen 15-20-yr 5s.
Ib27
Tr Co certfs of deposit
southw Div 1st g 5S
1947
Refundingg4s.
—.1951
Jan
'13
....
867,
1957 M-N"
General gbid 6s
General gold 5s_
111
J'ne'li.
100
102
....
92
StJo&GrIsllstg4s
t Louis & San Francisco— 1947 J-J
J'ne'08
82% Aug'13
85% Aug'13
96%
96%
97% Jan '13
87
Aug '13
94%
9478
/20-year debenture 4s
1929 A-O
(NY Ohic& St,L lstg 4S..1937 A-O
/Registered
1937 A-O
guar
2361 J-J
2361 J-J
N Y Cent Lines eq tr 4
Hs 1922 J-J'
T> eading Co gen g 4s
»io
Mch'12t~
9934 Aug'13
97
97%
....
Refunding guar 4s_._.
1921 J-D
Flint & P M g 6s........1920 A-O
lst consol geld 5s.:
1939 M-N
Pt Huron Div lst g 5s
1939 A-O
PLts Sh& LB lstg5s_._
lst consol gold 5s—
....
110
....
Sag Tus& H 1st gu g 4s_.1931 F-A
Philippine Ry lst 30-yr s f 4s'37 J-J
Apr *12
130% Jan '09
123% Mch'12
100%
j*00% U/ii.
Aug'13
1 in
'03
.1949 F-A
1953 J-D
2d gold 4Ms
Pere Marquette—Ref 4s
Obp '13
101%
101
10234
84
84%
83%
83%
97%.... 97%
82% 84% 84%
83%
82%
Ch& WM5s—
105
tS L &
DCbehture 4s_^
West Shore 1st'4s
Registered.
85%
102**1111
J-J
95%
90%
8938
Oct '12
11%
J-J
1931 Q-M
..1940 J-J
4s
93
al928 A-O
5s
Registered
95%
....
M-N
Pitts McK& Y lstgu 6s..1932 J-J
; 2d guaranteed Gs
1934 J-J
McKees&B V lstg 6s_.1918 J-J
(Michigan CentraJ
108
/C
109%
101%
C St L & P lst con g 5s—.1932 A-O
Peo & Pek Un lst g 6s
1921 Q-F
....
8Fv
'13
90
1945 M-N
^
91% Apr '11
110% Apr '13
IIII
93
3M« B..1940 J-J
Series G 4s guar
84
J'ne'13
J'ne'12
94
90
1950 F-A
Series D 4s guar
Series E 3Ms guar g
Series F gu 4s g
J ne'09
93
M-S
M-N
.
Jan '12
101
--
1948 M-N
76
Sep *12
119% Mch '12
95% Sep '13
88
87% 88
Sep '13
87
84% May'13
92
92
Sale
92%
91
9138 91%
9138
102
J-J
92
107
Sep
95% 100% 96
Sep
100
87%
Sep
.100
99% J'ly
ser B.1941 F-A
3Ms...l916 M-N
90" "90"
Apr '13
Sep *13
"i;
101
97% Sale
1931 J-J
..1933 J-J
Series C 4s
i
..1942 M-S
PCC&StLgu4MsA__.1940 A-O
Series B guar
1942 A-O
Series C guar
...1942 M-N
J'ne'10
80
80
92
•
,r
104
90
...
82
105%107
.106%
97% 98%
"
~987j| ~9978
Tol W V&O gu
4Ms A
Series B 4Ms
102
m%
':3
112
100% Sep '13
IO934
10934
115% Aug *11
99%
Series C
1940 J-J
Gr R & I ex lst
gu g 4Ms.l941 J-J
Pitts Y & Ash lst cons 5s_1927 M-N
102*%
102
gu g
Series C 3^s_
Series D 3 Ms
Erie& Pitts gu g
2 000 M-N
fN Y & Northern
05
.
i 134
1942 M-N
CI & Mar lst gu
g 4Hs..1935 M-N
Cl&P gen gug
43^s ser A 1942 J-J
Series B
...
1942 A-O
Int reduced to
3>4s___1942 A-O
"Oct *12
98% Jan "'13
Oct '02
90%.... 105
.
68%
Aug '13
90
1 nd.
Norgu4sg
...
91
99
Guar3Hs trustctfsd
1942 J-D
Guar 3k£s trust ctfsD
l.1944 J-D
Guar 15-25-year
g4s_....1931 A-O
Cin Leb&
A-O
101
_
100%
reg_Il937lM-S
92
~£5
110~
J-J
J-J
1921 -
107
119
68
66
1921
Registered
77%
m
94%
95%
94% Oct *13
Sale
-w—
M-S
112%
111%
2
90
08
Ai*
4s..........1948
Val gen guar g 4s
1942
Guar 3 H» coll trust
Guar 3 Hs coll trust
98
mmmm
J-J
89%
94% Sale
94%
lst g 4s_1936 J-J
& Can gen 4s. .1944 M-S
Co—
81
76
95
Sunbury^c Lewis
U N J RR
80
98
90
99
98
83
103
104%
87% Oct '13
105% Jan '13
..
Pennsylvania
91%
75
88
F-A
"76% "83 "
6
.
78
1998 F-A
87%
104
104
" 103%
1943
Guar 1st g 4^3
Apr *13
104
104
87%
100%
M-N
80S*
92%
103
PhiiaBaltA W lstg4s...1943 M-N
Sod Bay & Sou 1st
g 5S....1924 J-J
87
82
88
103
F-A
^Jleg
May'12
30% Sale
...1936 J-J
"87*%
99
Sep '13
103"
....._1»19M-S
78
87
79%
80%
88
Jan '11
89
89%
9C
4
10
98
1032 J-D
™
115% 120%
....
89
1938M-S
Consolgpld
102
79%
83%
123
Convertible gold 3^a...ol915 J-D
Registered
ol915 J-D
105% 105%
113
9678 Feb '13
63
A
99%
100
120
123
...
Consol gold 5s
I
lOnonl
(VAlxt
Consol gold 4s
95
100
118
4s
1st real est g 4s_
96
Mch'13
1968 J-D
Cent 1st gold 4s....1948 Q-M
Nor Pac Term Co
ill"
lstg 6s..l933 J-J
Orogon-Wash lst& ref4s._1961 J-J
86
pacific Coast Co 1st g 5*
J -D ♦100
x
ennsyivania RR—
111
65
1027a._..
4s__1936 J-J
^stuConso] gold
Wash
108%
111
96
..1932 M-S
1923
83%
92%
100
Registered certificates..1923 Q-F
89" "89
Jan '13
96
1944 J-J
gold 6s
81%
85
Oct '13
....
St Paul & D
;iuth lst 5S..1931 F-A
2d 5s
19X7 A-O
....
88%
n. 89" J'ly" 13
11*% 1057i 105% Sep '13
J-J
gen
78*" "82%
79
83% Feb '13
118
116%
Apr'J3
123
116%
Jan 13
116%
115% J'ne'13
93% Sale 93%
93%
n?tu1*Du,luthDiv«4s..l990 J-D
P.UT>Shorfc L 1st gu 5s....1916 M-S
StiP &NP
Oct '12
98%
88
1995 A-O
conv 4s
110
81%
92% J'ne'12
89% Feb '12
III! "87%
Pocah C & C joint
4s...1941 J -D
KO,d Ss.,1922 J-J
Sclo V & N E 1st
gug 4s..1939 M-N
Northern Pacific
prior 1 g 4s 1997 Q-J
Registered
.1997 Q-J
General hen gold 3s
<z2047 Q-F
Registered
a2047 Q-F
10134 103
96
J-D
M-S
F-A
'Registered
...1986 F-A
N Y & Harlem g 3^s.___2000 M-N
(
*88*
90
Sen '13
96
J-D
v
77%
Sep '13
77%
81%
,
1
13
79
103
A-O
J-J
A-O
J -J
N Y Central & H R g 3$£s.i997 J -J
L Registered
.....1997 J-J
I Debenture gold 4s
*>1934 M-N
\
Registered
1934 M-N
(LakhShorecDllg3Hb
1993 F-A
f
Register**!
1993 F-A
Mich Cent coil gold 3^8.1998 F-A
Registered
*64* "7634
807g Oct '12
82
82%
...
JO-25-year
10-20*year conv 4s
Convertible 4Ks_
*91 " *99%
110
10
99'% Mc"b"i2
100
.1932 A-O
0s
128
106% 107%
~90% "90%
Feb'13
82%
837s
107
Aug'09
89
F-A
1st cons g 4s...1996 A-O
Div list 1&
geng4s
*78% *80"
92
t?
Registered
76
112% 113
10734 111
8&3tZe*f'*SO*<i
106%
95% 100
"8*2" Sale"
J-J
1936 J-J
103
107
8
387
90% Mch'13
83
87%
1941 M-N
103
90% Aug'13
97%.... 10134 J'ne'13
102%104
102%
102%
1977 A-O
Registered
.1936
,Beech Cr Ext 1st g 33^s_bl951
\Capt & Ad 1st gu g 4s
1981
(Gouv & Oswe 1st gu g 5s
1942
\Moh & Mai 1st gu g 4s
1991
\N J June R guar 1st 4s
1986
97
96
5sIIl961
5s
101% 101%
67%
104
lst& refA
ft°r^ ?x9u istgold
87
114%
-III "75"
Norf & West
gen gold 6s...1931 M-N
improvement & extgGs.,1934 F-A
104%
101%
91
m.
NorfoikSou
877g
98
*89*" II
1917 J-J
2d guar gold 5s
102
108
89%
88%
73
<«<•%
110
...,
104!H J-J
lstg4s
(7I992M-S
Registered $5,000
only..pi992 M-S
General4s
1955 J-D
78%
82
94%
67
110
lstg 5s_1926 J-J
1st ext g 4s
1938 F-A
1938 J-J
jStL IrM&S gen cong5s_1931 A-O
k Gen con
stamp gu g 5s.>1931 A-O
L Unified & ref
gold is
1929 J-J
«"-R egistered
1929 J-J
.•
Riv& G Div lstg4s
1933 M-N
r
Verdi V I & W 1st g 5s_._l926 M-S
Mob & Ohio new gold Gs
1927 J-D
k1st extension gold 6s
hl927 Q-J
(General gold 4s
1938 M-S
|Montgom Div lstg5s
1947 F-A
St Louis Div 5s
I...1927 J-D
>St L& Cairo
guarg4s
1931 J-J
VT ashville Oh & St List 5s
1928 A-O
11^1 Jasper Branch 1st g 6sl923 J-J
t; McM M W & A1 1st Gs
1917 J-J
2d extended gold 5s
9934
77%
80
114
S6
Consol 4s
1945 J-J
I rovidence
Secur deb 4s_.1957 M-N
N Y O&W ref
87
102
101
96% May'll
7978
80%
9034
78
1948 J-D
| Pac R of Mo
gu g
15
cons 5s
47
81
Aug" 13
Sale 1067S
103%
8284
High
79
107%
99% Now'12
99% J'ne'12
114% Sale
Low
12
73
cccs cv 5s__1918 M-N
England
No.
80
80
4s__l961 J-J
gu
Since
Jan. 1
High
79
79
107
M-N
J-J
ft
& Derby
New
May'12
94%
Safe
80
■
Registered.
Beech Creek 1st
Registered
9434
*67* Sale"
'3d 7s extended at
4%
1938 M-N
1st & ref cony 5s
1959 M-S
(Cent Br Ry 1st gu g 4s>>_1919 F-A
Nat of Mex
prior lien 4^8.1926
1st consol 4s
1951
N O Mob& Chic 1st ref
5s_19«0
N O & NE prior lien
g 6s__pl9l5
New Orleans Term 1st 4s
1953
97%
67%
79%
77%
71
....
94%
J-J
Sale
M-N
F-A
Eng 1st
95%
8134
74
103
106
10334
9934 10112 99% •
99%
9634 IOOI4 9878 Sep '13
96
98%
May'13
9934
101% Mch'13
103i2104
103%
103%
96% Sale
9678
9678
al917 M-S
(Guaranteed general 4s
6
1*0*2%
1920 F-A
>>1920 F-A
1945 M-S
NatRysofMexprlien4J^il957
89%
83%
83%
78% Apr '13
102
Apr '13
82
May'13
7*
....
1948
deb (is (wh iss)
onv
£a/Jem R-Pt Ches Ist4s.l954
^
Alr ^ine lst 4S..1055
Cent New
^^atonic R cons g 5s.__l937
ft ^VI C,h,e3fiB lst ser I 4 Hs *46
,i
77
79
73
79
Range
or
Last Sale
Ask Low
1956 J-J
20-yrc
627S
'91* "97"
98% Sep '13
71
83% Sale
,
iRW&OTR
74%
100
54
Range
10
Bid
zoyn.
Week's
Friday
Oct.
Convdebenture6s_.
88
55
97% J'ne'12
98% May *12
98% Mch '11
89%
90
74i2 Sale
99
2004 M-S
pT & P Branch 1st Gs
Price
S -S
ife
Na,
Convdebentu.eJHs
7934 Dec '12
91%
92
*89*12 "91%
Hs
1936 J-J
Bt Louis Div 1st ref g 4s__2001 A-<?
X)ai& Wa 1st gu g 5s
194QK-N
(Ran C & Pac 1st g 4s
ma F-A
WOK" 1st gu g 5s__>i.l 942 A-0
M K& Ok 1st
guar 5s.
1042 M-N
MM K & T of T 1st
gu g 5s_1842 M-S
Blier 8h& So lstfiu g 5s»1942 J-D
^Texas& Okla Lwigu g 5s__1943 M-S
Missouri Pac l*t cons
g Gs>_1920 M-N
S Trust gold 5s stamped_>al917 M-S
(Cent Br U P 1st g 4s
I Leroy & OVAL
STOCK EXCHANGE
Week Ending Oct. 10.
[Vot.
Haven & nartf—
Non-conv deben 4s
1955 J-J
Non-conv 4s_.______a-._i956 M-N
Mch'10
7934
91%
Lo Kan& Tex 1st
gold 4s>> 1990 J-D
2d gold 4s
ol'JDO F-A
1st ext gold 5s
i.
1944 M-N
.
93
*90% mi
Mississippi Central Ist5s»l949 J-J
4s.
Y.
High
Nov'10
66
....
g4sintgu 1938 J-J
Registered
40-year gold loan
Low
124% Oct '12
110% Aug *11
90
Sep '13
10018 108
1949 M-S
Registered
"77"
no" II!
.>1934 M-N
1st collateral gold 5«_.
No.
N.
N Y New
,.1927 J-D
1921 A-O
llst& refund 4s_____
•Gen sinking fund 4
High
79
1st Chic Terml s
f4s__^__ 1941 M-N
M 3 S & A 1st
g 4s int gui_1926 J-J
*
Ask Low
BONDS
„
Since
Last Sale
mi "75"
1stgu4s»1935 J-J
con
Range
Friday
Bid
Pea,M& FtD
d
Record—Continued—Page 3
8
Oct. 10
Ending Oct. 10.
linn & St L 1st
gold 7s
Pacific Ext 1st gold Gs
1st consol gcnd 5s
1st and refund gold 4a
Week
99
98
103%
99% 102
....
99
95
97%
93
5
....
99
98
92% 100%
mmmm
....
mmmm
....
mmmm
....
mmmm
....
...a
102
97
mmmm
....
92
'
mmmm
101
.
.
mm
.
.
102
v Due
100% Dee '11
102% 103
Sep '13
Nov.
t Option
sole.
mm
mm mm
92
....
.
....
....
101% 105%
1011
Record—Concluded—Page 4
New York Bond
1913.]
OCT. 11
Week
Price
Price
Week's
Range
Friday
Oct. 10
Range or
Since
BONDS
EXCHANGE
STOCK
Y.
N.
Week Ending
Oct. 10.
li
Lasi Sale
oBo°SDl
EXCHANGE
10.
Week Ending Oct.
Jan. 1
_T
m
ol949 F-A
Refunding 4s
1959 A-O
Atl-Birm 30-yr 1st g 4s_.cl933 M-S
Car Cent 1st cOn g 4s
1949 J-J
Fla Cent & Pen 1st g 5s
1918 J-J
1st land gr ext g 5s
1930 J-J
Consol gold 5s
.1943 J-J
Ga & Ala Ry 1st con 5s..01945 J-J
Ga Car& No 1st gu g 5s__1929 J-J
Seab & Roa lst5s_
1926 J-J
Southern Pacific Co—
Gold 4s (Cent Pac coll).fcl949 J-D
73%
Adjustment 5s.
109
71
Registered
F-A
1949 F-A
Mort guar gold 3^s__Jtl929 J-D
Through St L 1st gu 4s_1954 A-O
Registered
G II & S A M & P 1st 5s_1931
Gila V G & N 1st gu g Ss.1924
Hons E & W T 1st g 5s..1933
'
M-N
M-N
M-N
M-N
J-J
A-O
M-N
J-J
A-O
J-J
A-O
J-J
M-N
J-J
v
1933
1937
1921
Waco& N W div lstg 6s 1930
1st guar
5s red
H & T C lstg 5s int gu
Gen gold 4s int guar
N O
74
A
2d 4s
91
91
86i2 May'13
867g
87%
92%
9258
94i2 J'ly '12
Sale
93
Knox & Ohio 1st g 6s
,
Mob Sc Bir prior lien g
,
I
....
West N C 1st
,
con g
102
1955
F-A
....
J-D
A-O
1950
A-O
50-year gold 4s
J-J
J-J
J-J
F-A
11917
A1946 J-D
Coll tr 4s g Ser A
Tor Ham & Buff 1st g 4s
■
Ulster & Del 1st4s g 5s_1928
con
1st refund g
1952
4s_1947
.1347
1927
1st & ref 4s
02008
Ore Ry <Se Nav ?dn g 4s
1946
1st RR & land grant g
Registered ....
V 20-year conv 4s_.
'
,
J-D
A-O
J-J
J-J
J-J
M-S
J-D
Ore Short Line 1st g 6s.-1922 F-A
1st consol ; 5s
1946 J-J
Guar refund 4s
1929 J-D
Utah & Nor gold 5s
.1926 J-J
1st
extended 4sv
1933 J-J
\7andalia cons g 4s Ser A.1955
106*8
110
10118
Am
102"
9112
91
104
Aug '13
74i2
7478
8H2 Sep '13
104% Sep '13
86%
29
100
.L.
...
F-A
.1957 M-N
Vera Cruz & P lst gu 4/^s_1934 J-J
Virginian 1st 5s Series A
1962 M-N
104*4
112
106
"
104*8 109*8
HO
1
100% 103
J'ne'13
95
100
99
Feb
99
101%
99
90
13
70
75
74
Sale
74
80*8
98% Feb '11
95%
88*8
88
Sep '13
88
62
Sep '13
62
52
49
"91"
86%
8738
87% Aug'13
87
87%
88
89*8
87
88
84
91*8
J
90%
79
" '79
1GQU 102l2
1031* 103i2
98*8 101
108I4
102l2 108*8
90U 957g
92
61
100
29
107%
NOV'12
9912 Apr '11
10612 Nov '04
103~% 105"
1031* Oct '13
10,1
Aug *13
102i2 1031* Sep -13
85
84
85
Sep '13
96
95U 9678 95U
84
Aug'13
80
88
I
1
85
84
55
•
1
t
1
68
55
101
971* Sale
98
SO
"18
47%
"60"
~84% "89"
104%
1
95
98%
99%
98%.
149
91*4 Sale
86%
97
92
92U
93i2
38
88%
95%
92
92
10
91
93*4
93i2
Sale
__
109*4 Oct '13
106i2
2
91
91*4
26
108
Sale
99
Mch'13
Oct '12
93
IIII "90
985g
86%
93%
94
95*4
96%
90
93%
94*4 Feb '13
94*4
96
91
57%
85%
56%
85
93
93
"96"
54%
70
16
79%
92%
75%
90
Sep '13
105%
99
99%
99
Sale
85%
85% Sale
85*8
67
92%
93
98% 101%
100
75
75
119
1st
5s
93
Oct '13
85
J'ly '13
85
.
98
96%
98
93
102%
90
~9~ll'
88%
100*4
Convertible 4s
1936 M
90
90
92
88
91% Jan '13
89%
85
84
Oct '13
80%
91%
89
25
27
.
Feb '13
27
30
20
100% Sale 100%
100%
98*4
95
95
94%
97
"79" IIII
77
97
89
85
Sale
93
99% 102
99
1950 M
1941 M
4^s g_1934 J
ext 5s
Northwest Tel gu
551
98
99% 102*4
87% 94
90%
82
90
97*4 110%
97*4 104%
83% Nov'11
97*8
11
99
sale
"90%-III
100%
91%
100
97.
99
112
97%
99
90
4
96
4
88%
92
92%
J'ne'11
93
Jan *13
101*8
101%
"95% "as%
98%
98%
98%
97%
98%
104
92%
96
91%
91% Sep '13
100
J'ly '13
100%
92
98% 102
96%
12
103% May'll
"97%
103*4
96*8 102
82% Dec '12
97
97% Sale
98% 99
gu
26
----
98
109
90%
"18
88%
102
Sep '13
97*4
102%
Sale
98% Sale
1938 J
2
100%
Oct '13
88%
88%
87%
10
302
100%
101
Sale 100%
91%
92%
91*4 Sale
96% 97% 96% Sep '13
1937 J
West Union col tr cur 5s
Fd and real est g 4>£s
92%
.
86
84
20-yr convertible 4^s__.1933 M
Chicago Telephone 1st 5s_.1923 J
Commercial Cable 1st g 4s_2397 Q
Registered
>
2397 Q
Cumb'd T & T 1st & gen 5s_1937 J
Keystone Telephone 1st 5s_1935 J
Metropol Tel&Tel 1st s f 5S.1918 M
Mich State Telep 1st 5s
1924 F
N Y & N J Telephone 5s g.1920 M
NY Telep lst& gen sf4/^s 1939 M
97*4
8334 89%
94*4 191*4
Sep '13
88
Sale 100"
99%
103
162"" l"0'2%
91
91
83
loo"
.
95%
96%
Sep V13
96%
86
98%
162"
96%
95%
88%
94
98%
96%
100
88%
88% Feb '13
85
1922 J
99%
95
96% Sale
98
100
,
122%
94%
95
83
J
J
96
115
97
95
1930 J
5s_'24 J
Dec
80%
.
116% 122%
94
99*4
119
96%
96*4
71
98
119
97
96%
88*4
91%
95%
120%
97%
97*4 Sale
91*4
59%
Oct '13
95% 95% 95%
120% Sale 120%
105
82%
83%
68
'Sep '13
92%
93
74
82
97% 100
81% 89%
102
65
95*4
101% 105%
99
98%
98% Sale
Sale 102
82%
-83
Sale
102
FJ
M
A
97
135
92% Aug'13
77
79% 77
103% 104% 105
Westinghou8eE & M s f 5s^l931 J
10-year coll tr notes 5s..1917 A
Telegraph & Telephone
Am Telep & Tel coll tr 4s..1929 J
MutUn Tel
98% "16
98%'
96% Feb '13
91
96
South Bell Tel&T 1st sf 5s 1941 J
"93" "94"
....
J
A_'21 A
Pac Tel & Tel 1st 5s
....
"93" Apr" 13
mmmm'
108% 112%
103% 109
May'll
106ig Sale 10618
96%
94
91%
...
35
97%
101
91%
"851* J'ne '12
9714
91%
95%
West Electric
103%
94
94*4 Aug'13
91*4
92*8
96'2
8634
189
J
J
M
S f 10-60-yr 5s\reg
dl963M
Va-Car Chem 1st 15-yr 5s_1923 J
85
3
79*4
U S Red & Refg 1st g 6s
1931
U S Rubber 10-yr cofi tr 6S.1918
U S Steel Corp—/coup ..dl963
101
100
>*«
103%
96*4
5
95% J'ly '13
94%
85% Sale
96%
f 5s__1921 J5s__1931 A
g
" "9-0%
92*4
98
56% Sale
A
f
deb
81
103
6
82
95%
v
6
4
85
Repub I & S 1st & col tr 5s_1934 A
10-30-year 5s s f
1940 A
Standard Milling 1st 5s
1930 M
The Texas Co conv deb 6s. 1931 J
Union Bag & Paper 1st 5s. 1930 J
conv
83%
99
101
Deo '12
101'
84
s
P 1st
117% 117%
94
97%
May'13
103
102*4 Sale 102%
102" 106"%
1
841* Oct ,'13
...
101
s
Inter-ocean
93*4
120*8
92*4
National Tube 1st 5s__.
1952 MN Y Air Brake 1st conv 6s_1928 M
U S
Dec '12
55
65
env 6s
99%
91
116
90%
F
Nat Enam & Stpg 1st 5s_.1929
Nat Starch 20-yr deb 5s___1930
105
99%
95
1951 F
Mexican Petrol Ltd
80
101
103%
94%
83
94% Sale
-
1950 M
5-year convertible 5s
1915 M
Liggett & Myers Tobac 7s. 19 44 A
5s
.1951 F
Lorillard Co (P) 7s.1944 A
Stamped
Realty & I
•
1
...
....
,
..1940 A
1952 M
5s
95
70
118
103% 103% 103%
947g Sale 94%
81%
81% 82
Gen Electric deb g 3^s___1942 F
Debenture 5s
1952 M
Gen'l Motors 1st lien 6s._.1915 A
Latrobe Plant 1st
103%104
104U 104%
88% 89*4
...
IIII *98"
4^s_. 1936 J
Int St Pump 1st s f 5s
Lackaw Steel 1st g 5s
1st con 5s Series A
92%
98*4 103%
117% J'ne'13
96% Sep '13
95*8 J'ne'12
~82*4 "83"
6s..1918
1935
1929
1923
97%
99% Jan '13
93
J'ly *13
99
92
Sale 118
118
5S....1931 M
1934 M
A
f g
95
105
Sale 104
88
Railway Steel Spring—
99% 101
Feb '13
104% Sep .'13
10418 105
85
893i May'13
106i8 Sep '12
101% 105
102*8
ion*.... 101
40
s
101%
92% 92% Aug'13
100%
100% 101*4 100%
79
79
.Sale 79
....
,
94
97
97
98
96%
62
63
46%
49
100
99%
99% Sale
1926
f 5s
Int Paper Co 1st con g
Consol conv s f g 5s
Oct '06
104
s
111 Steel deb 4^8...
Indiana Steel 1st 5s
63
106
107% 112
1,021* Apr'11
98lg
07
Oct '13
95
95
104
General Baking 1st25-yr 6s_ 1936
"
103
Aug'13
100
4s
E I du Pont Powder
100
...
g 6s
"SSI* *87*4
92
91
75" "83%
103% 107%
103
10018 103
1915
g Gs
1st 25-year s f 5s.
J'ne'13
1001*
85
Feb
82%
Oct '12
34
IIII "32%
6s.__1919
Ouban-Amer Sugar coll tr 6s 1918
Distil Sec Cor conv lstg 5s. 1927
92
....
f g
40-yr
Corn Prod Ref
J'ly '13
1021* 104*4 102it J'ne'13
91
93
91*4
91*4
92
....
86
1931
s
Beth Steel 1st ext
102
10934
*4
U2
..
.1951
s f 5s_1919
Baldw Loco Works 1st 5sl_1940
102
L
95
81%
Registered...
Writg Paper 1st
104*4 104*4
104
105
84*4
3
81% Sep *13
100
Sep 12
*93%
79
79
Sale
79*8
103% Sep '13
103%
81
Am
103*4 Nov'12
....
3
1
%
1944 1944 A
1951"
"90
104*4 Jan '13
104
Mch *13
....
54
57
3-4
A
1st & ref 5s guar A
1942
Cent Leather 20-year g 5s.1925
Consol Tobacco g 4s
1951
73
Sep '12
981* J'ly *13
100
1928
721* 781*
781* «6i2
IO214 107
79ig 881*
20
103i2 Jan *13
10314
....
Aug'13
*8
P1915 Q
Registered
10lT07ig
Dec'Il
70
Chem 1st c 5s
4^s
Spirits Mfg
Gold
J'ne'13
100*4 104
....
28
3
2
1
1919
"i8 "87*" "941$
68ls
100U 102i# 100% Sep '13
102%
27%
11*4
48
Am Tobacco
4
1051* NOV 12
79
Mch'13
85
11%
19
18%
Aug *13
...
Am Thread 1st col tr 4s
10H2 10U2
-
91i2 Sep '12
87
87U
99
10114
26%
17%
--
Debenture 5s
____
100
80.
13
"17% Sale"
Amer Ice Secur deb g 6
1925
Am Smelt Securities s f 6S.1926
10514 107
I
10458
1046a Sale 10468
105% J'ly '12
991*
6412 64i* May'13
106
Aug *13
iw't 111 108% Oct *13
100
75
J'ne'13
1936 J-J
deposit
Am Hide & L 1st
Feb '07
101i2 J'ne'13
Consol 4s Series B
▼
>
Am Ag
94
106"
108
Union Pacific—
<
Trust Co ctfs
108
Jan '13
10534
100
" "65"
May'13
13
Manufacturing & Industrial
Am Cot Oil ext
101% May'13
92
1935
1990
20-year 5s_
1927
Tol P & W 1st gold 4s
1917
TolStL& W prlien g3^8-1925
92i2
103
99%
103
100
65
77
73
1922
f 5s
s
Allis-Ohalmers 1st 5s
~70" IIII
20
2d
93
....
Mch
'
General gold 5s
Kan & M 1st gu g 4s
108
112
83
La Div B L 1st g 5s
1.1931 J-J
WMinW&N W lstgu5S.1930 F-A
Tol & O C 1st g 5s
.1935 J-J
i
Western Div 1st g 5s
.1935 A-O
g2000
102
loo" 102"
105U J'ly '13
~97% 102'
Gen refund J f g 4s
1953 J-J
St L M Bge Ter gu g 5s__1930 A-O
Tex & Pac 1st gold 5s
2000 J-D
gold inc 5s
102
108
83i2
83i2
83i2 85
1015s..,. 10514 Sep '12
87% Jan '13
84*4
8214 Feb '14
\
2d
91 ij
108
"74"*; Sale
103*4
Apr '13
Winston-Salem S B lst4s__1960 J-J
Wis Cent 50-yr 1st gen 4s
1949 J-J
Sup&Dul div & term 1st 4s '36 M-N
104*4
100
81
Aug 12
65
.1949 M-S
J-J
RR 1st consol 4s
20-year equip
Sale 103*4
104
J-J
A-O
M-N
M-N
M-S
con
961*
"88" ~9"l"
1015# May'll
J-J
Ter1st of St L 1st g 4Hs_.1939
A
gold 5s
1894-1944
93*4
90
51
83
93
94
"91" "91%
1914 J-J
6s
Spokane Internat lstg 5s
dl943 Nov
5s
g
102% 107
105
80
102is J'ly
IIII "87"
M-S
M-S
Series F 5s_J
...1931 M-S
General 5s
..1936 M-N
Va& So'w'n 1st gu 5s
2003 J-J
-O
8
1st cons 50-year 5s
1958, AW O & W 1st cy gu 4s
A924 F-A
j
95i2
84
104
100
5s_1945 J-J
1945 J-J
1915
\
Deb 5s stamped.
..1927
\Rich &„Meck 1st g 4s....1941
'So Car & Ga 1st g 5s
1919
Virginia Mid ser C 6s
191 i
v
Series D 4-5s
1921
Series E 5s...
1926
86i2
190
105
..
A-O
1926 A-O
Wheel Div 1st gold 5S...1928 J-J
Exten & Imptgoid 5s
1930 F-A
98
ll9i4 Mch TO
1916 J-J
1930 J-J
Mortgage gold 4s.
\Rich & Dan con g 6s..
1943
gold 4s
Wheeling & L E 1st
88I2
13
McU
101*8 104
107%
105*g
IO2I4
10014
10U2....
1949 A-O
1925
Gen
99
12
Sep '13
Sep '13
Sep T3
104
_
110l2 115
1938 M-S
3s......1946 A-O
Ga Pac Ry 1st g 6s
1922 J-J
,
West Maryland 1st g 4s
1952 A-O
West N Y & Pa 1st g 5s_._1937 J-J
105
102*4 10318
907g Sep '13
88
Aug *13
87i2
„
93
Ga Midland 1st
'
102
915s
102
6jM-N
...1956
Con 1st gold 5s
E Ten roor lien g 5s
.(-■
J'no'12
108
1948 J-J
E T Va & Ga Div g 5s
.1945 F-A
1945 F-A
1st 40-year guar 4s
45" "61*4
47%
_.
1954 J-D
Trust Co certfs.
Wash Terml 1st gu 3>£s
Nov'12
105
i:J
Atl & Yad 1st g guar 4s
Col & Greenv 1st 6s
9178
2d gold 4s
51
NOV'12
46*4
'£...
Columbia Tr Co ctfs
64%
54,
47%
65
A-O
3j^s
45
72
4s
g
80
46%
50% Aug'13
48
Aug 13
64
5s.i_1941 J-J
1939 J-J
g
88
103U 10314
J'ly T3
102*4 Apr '13
105
May'12
100*4
1951
1918 J-J
1948 J-J
iw
J'neT3
107% 109
Mob & Ohio coll tr g 4S..1938 M-S
Mem Div 1st g 4M-5s
1996
Ala Cen R 1st g 6s
Atl & Danv 1st g 4s
90
79
821*
102
...
"7714
73
107
103
1994 J-J
St Louis div 1st g 4s...
1st g
"98%
80
48
50%
48%
...
194L194ATWI -S
Wab Pitts Term 1st g 4s..1954 J-D
Cent and Old Col Tr Co certs.
86
66%
90
J-J
5
79%
Div
Om
80
79
46*4 Sale
103% 107%
99%
98%
May'13
Mch'13
—
Stamped
Det &; Ch Ext 1st
Des Moin Div 1st
" ~85%
85
74
:■
...
100
Registered
1994
Develop & gen 4s Ser A..1956 A-O
)
Do
106%
94%
J'ne 12
48% Sale
50%
Equit Trust Go :tfs_....
Do
Stamped.
"85**4
79%
M-S
J-J
High
101
13
97%
99
1956 J-J
Low
59
104
90
IIII "97"
Cent Trust Co ctfs
'09
7612 Sep '13
8212 Oct '13
...
825s
100%
Southern—
1st consol g 5s
1921
1954
Since
Jan. 1
No.
High
103% Sale 103%96
98
96%
Tol & Ch Div 1st g 4s
~90% III.
1943 J-J
1955 J-J
gold 5s
con
So Pac RR 1st ref 4s
1939 J-J
8)
Oct '13
...
92
A & N W 1st gu g 5s
..1941
Morgan's La & T 1st 7s..1918
1st gold Gs
..1920
No of Cal guar g 5s
1938
Ore & Cal 1st guar g 5s__1927
So Pac of Cal—Gu g 5s
1937
So Pac Coast 1st gu 4s g_1937
San Fran Terml 1st 4s..1950 A-O
Tex &
80
76
10
90
78
85% Feb *13
104
87
F-A
1st lien equip s fd a 5s
50-yr g term 4s
1st ref and ext g 4s
j
841*
78% Oct '13
Oct
M-N
.....1939
gold 5s
! 1st lien
991* 100%
22
101% Apr 07
81
80%
84
78
2d
Debenture Series li
103i2 J'ly '12
99% May'13
86%
86I4
79
J'ly '13
104
W
12
77% J'ly
...1-939
\\7abash 1st gold 5s
Income 5s
Cent Pac 1st ref gu g 4s__1949
\
65
103U Jan T3
903s
pl929 M-S
20-year conv 4s
\
101%
i.._kl949 J-D
i
71
_
„
\
10234
10134
11314
2
....
100*8
101%
101*4
High
105
6
83
80
Low
High
1087,
73%
74%
•
No.
Low
Ask
Bid
M-N 108%111
A-O
69*4 70%
Registered
1936 A-O
K C & M R & B 1st gu 5S.1929 A-O
92 ...
Ozark & Ch C 1st gu 5s g_1912 A-O
99
St L S W 1st g 4s bd ctfs
1989 M-N
86% 86%
2d g 4s inc bond ctfs
pl989 J-J
78
Consol gold 4s
;
.1932 J-D
77% 79
Gray's Pt Ter 1st gu g 5s_1947 J-D ---- ....
iS A & A Pass lstgu g4s
1943 J-J'
803s Sale
IS F & N P 1st sink i g 5s
1919 J-J
83
Seaboard Air Line g 4s
1950 A-O
82
8$
Gold 4s stamped
i
1950 A-O
Registered
1950 A-O
KO FtS& M con g 6s.__1928
KO FtS& M Ry ref g 4s. 1936
ij
Ast Low
Bid
St L & San Fran (Con)
Range
k2
Last Sale
10
Oct.
s
llange o>
Friday
vSTOCK
Y.
N.
90
95
22
97% 101
101
102%
96%
"93"" "93""
MISCELLANEOUS BONDS—Concluded.
1932 J-D
al926 M-S
f 5s
Debenture 5s
i
1
Col F & I Co gen s f g 5s
Col Fuel gen 6s
Col Indus 1st & coll 5s gu
Cons Ind Coal Me 1st 5s
1943 F-A
.1919 M-N
1934 F-A
1935 J-D
90
90%
75
95
98
104% 107% J'ne'12
80%
81
80% 81
76
92%
Gr Riv Coal& O lstg 6s__hl919 A-O
Kan & H C& C 1st s f g 5S.1951 J-J
91
Pocah Con Collier lstsf 5S.1957 J-J
85%
86
77
St L Rock Mt& P 1st 5s
Tenn Coal gen 5s
Birrn Div 1st consol 6s
1955 J-J
.1951 J-J
1917 J-J
----
i<
uel 1st
s
f 5s
1953 J-J
Va Iron OQai&Coke lstg 5s 1949; M-S
♦
No price Friday; latest
....
90
90
75
75
93%
99%
93
"BE
77%
Aug'13
Oct *12
102% Apr '06
98
Jan *13
85
76
76
mmmm
"98" "98 "
85% Sep '13
85
87%
78
78% Sep '3
73
80%
99
98%
QQ
09
""3
98% 103
lOOftg 103
100% 102
101% 101*8 Sep '13
102
Sep '13
102
Tenn Div 1st g 6s
al917 A-O
Cah C M Co 1st gu g 6s__1922 J-D
Utah fuel 1st g 5s
...1931 M-S
Victor
98
Sep '13
J'ne'13
Sep '13
104
Cons Coal of Md lst&ref 5s 1950 J-D
>
1
Miscellaneous
Coal & Iron
Buff & Susq Iron s
103
103
Adams Ex coll tr g 4s
1948
Armour & Co 1st real est4Hs '39
Bush Terminal 1st 4s
1952
Consol 5s
1955
M-S
J-D
A-O
J-J
*
mm
92%
93%.
«•
<■
!»•
Tf
79*4
80
92%
bid and asked, q Due Jan. d Due
93
5
80
92
98
Sale
76
90*4
82%
92
89%
96
88
88
92
91*4
91*4
85%
85
94
Sep '13
122
190
85
87
160
180
165
Inspir Cons Cop 1st 6s (rects)..
Int Mercan Marine 4Hs
1922 A-O
Int Navigation 1st s f 5s
1929 F-A
Mge Bond (N Y) 4s ser 2..1966 A-O
89%
91
1960 A-O
guar tax ex
74
85
Chino Copper 1st conv 6s_.1921 J-J
Bldgs 5s
77
91
Aug'13
90%
....
85
99
98
99
61*4
88
89%
i
94%108%
56% 66%
61
62%
61
77%
78
78% Sep '13
75%
79*4
99% May'13
99%
86% J'ne'13
82
May'13
61
99%
89%
Niag Falls Pow 1st 5s
1932 J-J
Ontario Transmission 5s_._1945 M-N
100%102% 101% Oct '13
100
Corp N J gen 5s..1959 A-O
89*4
90
89
90
110
1071* Sale 107
Dec 12
103% 102
10-20 yr 5s series 3
1932 J-J
Morris & Co 1st s f 4^8...1939 J-J
N Y Dock 50-yr 1st g 4s
Pub Serv
RayConsCopper lsfc
conv
Wash Water Pow 1st 5s
April, c Due May. - Due Jjune.
88%
81
1951 F-A
_
mmm,
76
6sl921
J-J
1939 J-J
....
87
92
82
84
102%
Dec '12
A Due July, k Due Aug. 0 Due Oct. v Due Nov. t Due Dec.
~88% "93
97%121
» Option saia.
1
1012
CHICAGO STOCK EXCHANGE—Stock Record.
STOCKS—HIGHEST AND LOWEST SALE PRICES
Agist*
ohioIqo Ibtook:
«f tk«
Saturday
Oct.
Monday
4
Oct
Tuesday
«
Oct.
-
Wednesday
7
Oct
8
Oct.
WMt
Friday
Thursday
Oct.
9
Range for Previous
Range for Year 1913
EXCHANGE
Share*
10
Lowest
Yerr (1912)
Highest
Lowest
Highest
■
\
»•
*25
V
30
8512
95ia
3012
;*75
•93
\
30
♦25
♦75
V
8%
*21 j
■« ■
1
"*512
\
*30
«
•75
85%
95%
29%
*75
♦03
29%
*784
♦2%
39% ♦-.„
6%
4%
8
8
3%
Last Sale 278
Oct'13
Sept* 13
Last Sale 25
40
♦4%
35
♦4%
6
•30
♦30
85
Do
Nov12
Last Sale 41
6
•4%
♦30
83%
33%
95
95
430
•410
~~~
28%
35
♦410
430
♦
440
*
*
135
*
135
♦
•38
89
*
41
94
* 94
*
94
33%
95%
34
33%
95%
94
34
83*$
94
94*4
331%
34%
95
93»4
430
Last Sale
135
Last Sale
30
680
Sept'13
39
93
95
95
\ 128"
1-
126
126
123% 124
122% 13H2
52
52
♦51
62
♦50
62
♦60
62
♦60
52
77
77%
♦76
"77
♦76
77
♦75
77
77
77
57
♦49
66
♦49
52
♦38
52
•77
77%
*49
57
39
♦49
124% 125%
'
6234
6234
,•212
t 153
\
52*4
53
6234
21612
214
214
153
139
139
1012
10%
10%
100
©97$
25*4
;
*2612
27
\
99
*60
99
♦99
62
♦60
216
99
62
140
10
63%
214
139
♦
10
99*4
27
138
♦25
62
26
99
99
rn
~
m.
~
♦60
~
99
•25
26
62~
62
Last Sale
m
77
*74
77
♦74
77
Last Sale
♦121
123
*120
125
[•118
♦120
125
120% 120%
121
♦118
121
*118
121
*118
121
Last Sale 117
1*115
120
♦115
120
♦115
116
*115
116
Last Sale
•115
120
♦115
120
♦115
120
114
115
38
38
♦37
t
*37i2
383s
*89
92
*89
£126% 12612
*96
92
96l2
38
*89
125% 125%
81
*79%
96%
95%
81
\ »79i4
♦37
92
125
♦89
125%
♦79%
38
♦37
92
92
•89
92
124%
81
124
♦79%
124l2
81%
♦96
97
♦96
97
97
20
20
♦20
23
♦20
23
♦20
23
54
♦47
64
♦47
64
*47
64
186% 187%
186% 187
*119% 121
♦119% 121
182
186
♦120
124
81%
1S778 18812
121
V *22
»
23
♦22
23
80
*79
♦79
80
♦22
105% 105l8
•250
*104
191
i
1047$ 1051$
260
*250
104l2 *104
191
191
23
♦22
80
♦76
260
*250
260
260
Last Sale
♦
1
I
*8
*
1
,
1
56
67%
109% 109%
58
69
•109% 109l2
10
♦8
t
1
♦
I-*
I
com
260
10
♦8
1
567$
1091$ 109%
10
♦8
145 The
10
~~
—
Aug'13
109% 109%
10
95
10" "Aug"'13
Last Sale
405
May 1
Jan 13
181
Jan
45
Aug
103i2 Jan' 2
13934 Jan 3
100
Feb
1063$ Oct
1987$ Mch
55
135
61
138
Dec
Jan
3
39
Mch
70
Deo
6
77
Mch
95
J'ne
55 Jan 29
551$ Sep 16
221
Sep 11
165
Sep 29
16i$ Jan 31
49
Feb
65*$ May
184
10
Feb
Feb 11
87
Oct
1103$ Sep 12
103
J'ly
71
,
44
Mch
65i2 Oct
Jan
222
J'ne
135U Jan
150
Mch.
2534 Oct
63
Feb 13
63
99% Oct 3
76i2 Jan 31
97
Deo
56
211$ Oct
87
Oct
Deo
94
Jan
6012 Sep
2
J'ne 12
Jan 23
115
105
J'ne 12
100
117
Oct
J'ne
2
100
Jan
14
122U Oct
103
Feb
61
J'ly
lot"" J'ne
130
J'ly 10
9012 J'ly 23
19
Aug 29
40l2 Aug 4
100
100
com.
10
85
65
Sep 23
Aug 14
155
J'ne 11
973$ Feb
214*4 Jan
22
101
J'ne 11
Quaker Oats Co. 100
pref
100
1077," Mch
195
J'ne 12
280
Do
9934 J'ne 24
148i2 J'ne 10
6% J'ly 31
100
rights
Jan
1
50
Ward, Montg'y A Co pref
17
J'ne 11
6
2
100
Wool worth, com
6
Feb 1ft
111
100
Stone
87% Mob24
112
Deo
98
Deo
94i2 Dec
987$
(
991$ Apr *10312
140
Jan
22U2
121is Jan
125*4
49
807$ J'ly
92
Deo
9712
98*4 Jan
10914
215
Nov
Oct
Nov
J'ne
Aug
Aug
Apr
Jan
397
Nov
105i$ Jan
110
Jan
*135*4 May
1081$ Feb 1ft
206% Jan 10
61$ J'ly
9
1*2 Feb 10
2
68*< Jan
1051$ Feb 19
9
J'ly 22
Apr
94% Apr
*10712 Apr
80
:
.....100
100
Jan
67
1223$ Oct
r
1244* Feb 17
34
Feb 13
Co
120
:
103% Jan
101*$ Jan 13
69
Feb 21
117.
.100
130*4 May
135
Sep
Mch
*
100
Gas LACoke.100
763$ Aug
161% Apr
Deo
115
118
J'ne 27
1267$ Sep
May
114
122% Feb 17
Jan 25
63
Jan 27
111% J'lF 14
35
Sep 15
123
2
113
130
llis4 Feb
80% Sep
102ij Mch
73i2 Sep
105% Deo
67
..100
Carbon
77
6
Mch22
100
100
Apr
Oct
■
897$ Jan
pref
Western
Last Sale
126
Feb
(B.F.) com,100
Marx pflOO
Unit Box Bd A P Co.100
2,655 U S Steel 00m
..100
July'13
553$
56*2
66%
Oct
Sep
J'ly
J'ne
Feb
May 19
Sep 24
Do
Last Sale 1%
547$
47
Feb 11
520 Union Carbide Oo
~~~
lUj Jan
J'ne30
common
A
11% Apr
62
'
77
pref
Do
50% Jan
Mch
6
35
98
Sears-Roebuck
626 Swift
57$ Jan
Sep
Jan
3
100
100
Jan
11
25
91
5
J'nelO
Oct
..100
Match
pref
Rumely
J'ne
8
pref
100
Studebacer Corp com.100
260
260
mm mm'
100
Do
■
55
567$
109% 1091$
66%
"3",495
105
mmmm-
Do
Do
Dec'12
105
260
260
192
2
1047$ 105
104% 104%
191
25
•
119%Sept'13
Last Sale
2
Sept'13
1047$ 105
104% ♦104
104%
193
192% 194%
23~~
Last Sale
Last Sale
i
Commonw'th-Edison. 100
20 Pub Serr of No 111 com 100
14
Do
pref
100
L5i2 Sept'13
181% 184
1827$ 184
78
1047$ 105
♦20"
Last Sale
23
♦79
'
50
73it J'ne 10
40
J'ly 8
471$ J'ne 12
200
Apr 26
1251$ J'ne 10
J'ne
3
Feb 11
135
Sep 17
Sep 18
12212 Oct 10
1st pref
100
Cal Sc Chic Canal ic D 100
6
Apr
325
500
93
Do
2,560 People's
97
23
>
J'nell
39
10 Pacific Gas A Ei Co..100
Do
preferred
38
124
123% 125%
♦79% 81
81
♦37
♦89
! *20
•11912
130
pref
National
38
; *47
;
..100
Shipbuilding... 100
40
93*4 Jan
1043$ Jan
38
Jan
14% Aug
40
Oct
461$ Jan 31
129U Jan 30
Aug28
Nov
19*4 Nov
Mchl8
45
J'nelO
'
17
9i$ Jan
Sep 22
81
100 National Biscuit
Do
pref
Oct'13
3314 Sep 6
9
Sep 2
45$ Apr 5
37
Sep 26
,
21t2 J'nelO
Internat Harvester Col 00
Knickerbocker Ice pf.100
♦74
123
Dec
7
25
100
200 Hart Shaff &
20 liinois Brick
99%
*'•121
I
"4i"2"Oct"
430
50 Goodrich
♦25
♦60"
26
May
83
100
pref
100
American Radiator._ 100
"149 Diamond
99
25
90
9
J'ne
100
530 Corn Prod Ref Co
Do
pref
Feb'13
7
99*4
99
62
99%
62
—
99%
835
138i2
93s
9U
934
3
J'ne 28
16% J'ly 24
Chic Pneumatic Tool. 100
75 Chicago Title & Trust 100
*212" 2"l4""
214
9%
*60
99%
Sept'13
"803
■
~~~~
75
Jan
Jan 20
6
2
6
Do
pref
100
475 Amer
Telep A Teleg._100
10 Booth Fisheries com 100
6334
♦212
99*4
94
2
Last Sale
54
*212
99
•26
rn.~m.rn.
"77"
; *74
5% J'ne
Do
Amer
Sept'13
Sale
04
54
53%
138*4 139 *
10%
10%
997$
2584
997$
'
124% 124%
63%
♦212
10%
Last
*
Last Sale
15oo"
18
L_100
pref
Do
13034Sept'13
30
91
102
Jan 14
J'nelO
88
'
-
128
!
Do
2,100 American Can
35l2
947$
*38"
I
pref
10 Streets W Stable C
6
85
24i|J'ne 4
J'ly 16
70
Miscellaneous
3312
94l2
94ij
Do
pref
100
Chic Rys part ctf "1"
Chic Rys part ctf "2"...
Chic Rys part ctf "3"
Chic Rys part ctf "4"
Kansas City Ry A Lt.100
~
27%
135
-
July'13
~~~~
30
♦30
39%
OhlcagcrkleT Rya comioo
8*8
♦7%
•2%
85
♦30
29%
♦20
"4%
31
June'13
Last Sale 70
85%
96
29
8*8
*5%
Last Sale 28
30
94*4
3%
25%
♦20
31
6%
35
83
*25
8%
3%
25%
♦20
3912
30
80
29*4
•8%
♦2%
8>4
25i2
♦25
85%
96%
♦93
W2
<•
( *30
30
234
Nov
""£% Jan"
H May
686$ Feb
80i$ Sep
Sep 17
14*2 Jan
Jan
2
"_15 "NOT
Sep
3
r
*
Chicago Banks and Trust Companies
Dividend Record
*
Capital
Awry. A
Stock, t Profits.*
NAME.
Dividend Record
Capital
Btock.1
(00s
NAME.
Sttrp. A
Profits t
ittvd.)
om
1911.
State.. w1200,0
Oalumet National
100,0
■Capital State....
200,0
Drexel State...__
Drovers' National
First
National..
FirstNatEnglew'd
Foreman Bros
lit Dearborn Nat.
fialsted St State.
Hibernian Bk Asan
Hyde Park State.
Irving Park Nat..
Kaapar State
Lake View State.
Lawnd&le State..
Live Stk Exoh Nat
Meoh A Trad State
Nat Bk of Repub.
National City
National
Produce
North Ave State
1 North Side 8t Sav
l North
West State
Ogden Ave State,
i People's Stk YdsSt
;Second Security.
; Security
...
South Chicago Sav
South Side State.
.State Bank of Chic
State Bank ol Italy
300,0
750,0
200,0
500.0
100,0
Chicago City BAT
Chicago Sav B AT
Chloago Title A Tr
Colonial Tr A Sav
-Oont A Com Tr A 8
260.0
First Trust A Sav
6,000,0
Ft Dearborn Tr A S
260,0
Franklin Tr A Sav
300,0
Greenebaum Sons
1.500.0
200,0
Harris Tr A Sav..
■Illinois Tr A Sav.
1,500,0
300,0
6,000.0
Kenwood Tr A Sav
200,0
LakeVlewTrASav
*200,0
Home Bank A Tr.
LaSalieStTrASav
1,000.0
Liberty Tr A Sav.
250,0
Market Tr A Sav.
,
200,0
Merc'ntileTrASav
250,0
Merchants' L A Tr
3,000,0
Michigan Ave Tr
Mld-Clty Tr A Sav
200,0
500,0
Northern Tr Co..
1,500,0
Nor-West Tr A S.
250,0
Old Colony Tr A S
200,0
People's Tr A Sav
500.0
Pullman Tr A Sav
300.0
Sheridan Tr A Sav
'
*
200.0
Southwest Tr A S
% Sid.
Sep30'13,l%w
•
Q-J
Alt.
220
Standard Tr A Sav
Wood!awn Tr A S
290
4.
Oct.
8
8
Org. N
25
OV
Not pu bUshed
Beg. b
us
Orga
n.
Oct" "'13"
2
1912
—
250
fif)
10
10A2*
Beg. b
us. Aug
8
8
6
6
6
8
7
T
6
6
6
6
Org. N
OX
Beg. b
us
27
or.
J^J
Oct
Q-J
10
Oct.
*13.
110
265
Week ending Oct. 10.
CHICAGO STOCK
EXCHANGE
Inter
Pries
set
Friday
period
Oct. 10.
Bid
136
Am Tel A Tel soil 4s
Armour A Co 4%a
Auto Elee 1st M 0*__
1939 J -d
242
91
X'OOX Yl"
1928
X 75
Cal Om A KJ unlf A rsf 5a 1937 M-N *—
Chicago City Ry 5s
1927 F-A *100%
Chic City A Con Rya fts.41027 A-O
781$
134
Chloago Eisv Ry 6s
Chic Pneu Tool 1st 5s..sl921 j-j *
172
Chicago Rys 5«
116
225
IX 166
IX 167
173
IX
136
142
IX
IX
V. 96,p.1944
July'13,
IX
128
132
190
200
100
109
Q-J
253
Nov I'll V. 93,p.1235
6
Q-J Oct. '13, 2
250
8
Q-J Oct.* 13,
215
2
Week's
Range
260
1914 J-J *—
89
1927 f
77
96
Sale
Sale
82U
961$
109
7814
High
Feb '13
97
96*s
90
981$
-
931$
8I84
Sep '13
100
74
60*4
Jan
.
51
100
Q-J
July'13,
Sale
Oct.
IX 130
395
*13, 3
135
Q-J
398
'1 2 V. 96, p.623 141
Cudahy Pack 1st M 6S...1924
10034
99U June'13
145
Dla Match Con deb 6s... 1920
*105
Gen Mot 6% 1st L notes. 1915 A-O * 98
105I2
1041$ Sep *13
99*4 AprU'12
99
July'13
1051* April'12
10
6
6M
8
8
10
10A2*
6
6
8
8
8A2 s
8A2*
Q-M Sep.30'13,4
M-N May* 13,
8
Q-J
Oct* 13.
2X
Q-J Oct.'13,
2X
J-J July '13, 6
Q-J Oct. '13, IX
Q-J Oct *13,
2X
Q-J Oct.'13, lXi\
300
178
268
...
...
182
225
...
219
222
300
330
Cicero Gas Co ref G m..l932 j-j X 92
Commonw-Edlaon 5s
Commonw
Int Har
Elec
3-yr 5%
g
8
made
on
this
day.
Due June,
r-lce Friday; latest price thisDue Jan.S 1. Extra dlv. |
Sept.. 1 l6ll.
Due Feb.
d week.
Sale
99
221
Inland Steel 1st M
g
68-1928
6s
1913 M-N
1928 J-j
....
90
145
160
Lake St El—1st 5s
215
5176
180
4s...1938 F-A t 79X Sale
79
1938 j-j X
Mil El Ry A Lt 1st g 5S..1926 F-A *103
1041$
do
ref A ext 4H»—1931 J-j * 94
94ij
Morris A Co 4Hs.
..1939 J-j * 861$ Sale
257
163
167
148
155
450
...
75
Metr W Side El l?t
Extension g 4s
45
991$ 101%
"25
9
68
"997$
103%
99% 102%
99% 100%
1023$ 108%
"99" "99"
1952 m-N
Nat Tube 1st g 5s
Nor Shore El 1st g 6s
.1922
6s...1940
Oct
'12
81
86
89
96
100
A-O *
do
1st A ref g
Nor Sh Om of 111 1st 5S..1937 F-A
1911 M- S
98
99
North West El 1st 4s
861$
8612
96
Aug'13
95i2 Sept *12
I00U July '11
100
Sep '13
96*4
9684
11512 Sept *12
9934
997$
10U$ Oct'13
Sale
Refunding gold 5s__—1947 M- S
9934
Chic Gas LAC 1st 69.1937 j-j *101
Consum Gas 1st 5s.
1936 j -d * 99
Sale
lOO"
100
Mutual Fuel Gas 1st 6s 1947 M-N
101
100
* 99
100
161
165
Pub Serv Co 1st ref g 6s. 1956
429
435
130
135
South Side Elev IX<>
Swift A Co 1st g 5s
212
220
Tri-City
317
323
295
..
trust lien s f 5s
...1923 A-O
Union Elec (Loop) 6s....1945 A-O
U 8 Gypsum 1st t 6a
1922 M- S
Western Elec Co 5s
1922 j-j *1001$ 102
Ry
A
Lt
82
1003$ May'12
IO314 April" 12
A-O
185
93
* 92
92
192* j"-"i * 9U$
1914 j-j * 991$ 100
Aug'13
Sep '13
931$ Sep '13
9U$
9U2
9934
Sep'13
991$ 100%
93% 97
99% 102
100
103
99% 100%
99% IOOI4
91
97%
90% 93%
99% 100%
colt
9814 April'12
85
April'12
100
May *12
991$ July'13
99% 101
...
145
10
12
1047$ April'12
95
April'12
172
298
93
"87
99
180
93
"72" *75""
.
96314
117
IOOI4
90
94%
771$
84
75
N W G L A Coke Co 6S..1928 Q-M
116
94
96
76%
Ogden Gas 6s
1945 M-N
Peop Gaa L A C 1st 6a—1943 A-O
290
*22
98%
88
9
78
152
107
99% 101%
78U
89
921$
79
195
...
91%
79
490
121
11
91
7934
180
118
High
Sep' 13
148
176
Low
7934
485
102
for
Year 1913
Kan City Ry A Light Co
212
Sept 30'1S,1% 140
Q-J
*101U
96
notes. 1915 F-A
.
61,0
1943 M- S
6a...51943 M- 8 *101»4
M-N J100
60
Sep '13
6
0
215
'12
12
us .Aug 19
150
300
897$
Oct'13
81*4
93
6
8
105
91
Oct '13
98
A
12
were
No.
Sep '13
April'12
May'12
1007$
78i2
Sep '13
95
X 981* Sale
Chic Rys 5s.....series 'A" A-O X 923$
931$
Chic Rys 4s
series "B" j -d X six Sale
Chic Rys 4*
A * 02
series "C" f
941$
Chic Rys ooll 6s
...1913 F-A
Chic Ry Pr m M g 4s_cl927 j-j *"74"
Chic Ry AdJ Inc 4s...cl«27 Mayl X 60X Sale
Chicago Telephone 5s...1923 j -d J100
Sale
-
91
lOOU
966$ Deo '12
iou4
101«4
IOU4
IOU4
6
161
145
Rants
Sold
or
Last Sals
Ask Lots
1929 j-j
120
259
10
125
136
220
•12.
mmmm
Atk.
120
BONDS
26'1 2 V 95, p 693 130
Q-J Sept30'18,2
217
1,967,6 Not pu blished
e note
(U)
10
171.2
8H
Q-J Oct. '13, 2 H
16
None Q-M Dec30'll, 4
3.249.1
15.9 Beg. b us .Apr 3 '11 V. 92jp.929
118.7 Beg. b us .Apr 8'12 V. 94,p.1030
10
286,2
2X
Q-J Oct. *13, 2X
6
152,0
J-J July '13, 3
12"
12
2.410,5
Q-J Oct. *13, 8
82,2 Beg. b us .Apr 10'1 l.V.92,p.l004
10,438.1 16a4* 16A4«
Oct. '13, 4
f
7
99,6
7A2«
Q-J Oct. '13, IX
6
6
94,6
Q-J Oct. '13. IX
292,7 Beg. b us. Ma y'lo
»27,9 Org. D ec. 6
•12.
«30,5 Org. 8 ept. 6 •12. V. 95, p. 693
147,0 Beg. b us J'ly 1*12 V. 94, p. 484
16
16
7,233,1
Q-J Oct. *13, 4
73,0
Q-J Oct.'13,
IX
112,5 Com.b us. Ap 10'1 l.V.92,p.l004
8
8
2,908,5
Q-J Sep. 30'13,2
8
8
151.4
J-J July *13, 4
y52,8 Beg. b us J'ne l 11 V 92, p. 1537
8
224.5
Q-J Oct. '13, 2X
8
280,4
Q-J Oct.
*13, 2
Bid and asked prices; no sales
rnrnmm
IX
216
'13, 2
Q-M Sep.30*13,3
256
Q-J Sept30'13
Q-J Oct. *18,
Q-J
{Oct. '13,
Q-J 'Oct. '13,
QJ Oct '13.
% Bid.
1% 25,7 On. J uly 5 '12. V. 95, p. 18.
421,0
Q-M Oct. '13, IX
6
6
49,1
J-J
3
July 13,
8
1,631,3 8A24
Q M Sep.30'13 .2
8A2s Q-M! Oct. '13, 3
116,0
10
107,8
ox
QQ Oct '13,
2X
flf)
V. 96, p. 273. 132
V. 94, p 465. 116
July '13, 6 • 237
Q-J
10
Last Paid.
180
443
130
se e note
Aug *12.
Feb *12;
iod.
Chicago Bond Record
...
260
Oct.
Q-J
Per¬
415
Priv ate Ba nk
\
In
1912.
292
410
In
1911.
itt*d.)
144
8
*13, 1X 216
'13, 2X 260
Q-J
175
'13, 2
17
Q-M Sep 30'13, 4% 439
12 X Q-M Jne 30
'18, 2% 330
12
110
om
1200,0
1,000,0
200,0
1,200,0
400,0
200,0
Union Trust Co..
West Side Tr A Sav
Oct.
Q-J
8
12
23,2
460,5
Q-J Oct. *13,
Q-J Oct. MS,
10
6H
2.115.9
5000
379,5
1,000,0
1311,7
5.600,0 12.263.2
Drovers Tr A Sav
Guarantee Tr A S
6
10
4,500,0
1600,0
3,000,0
10
16
149,8 Beg. b
8
247.1
6
166.1
200,0
250.0
Central Tr Co of 111
10
16
.
IWaahlngt'nPkNat
Last Paid.
iod.
2X
118,9
393,9
57,8
10,000,0 12,126,7
150,0
233.3
1,000,0
645,9
2,000,0
892.4
200,0
27.8
2,000,0 1.235.0
200,0
41.6
100,0
12.5
400,0
217.5
200,0
7,9
200,0
169.4
1,250,0
623,8
200,0
65.7
2,000,0 1,504,9
2,000,0
750.8
250,0
114.9
200,0
1101,2
200,0
14,4
300 ft
63.3
200,0
10.6
500,0
109.6
200,0
118,9
400,0
166.6
200,0
138.5
200,0
25.4
1,600,0 2.661.8
.Union Bk of Chic.
Per-
6
None
An Jan 'IS,
150
6
20,9 Org. J an. 27 '13. V. 96, p.1685 106
031.0 Beg. b ua.Oct 7*12 V. 95. p. 944 139
250,0
[Stock Yards Sav.
1912.
3206,7
62,6
[Cant A Com Nat. 21,500,0 10.540.1
Corn Exeh Nat—
8,000,0 6,554,3
rJ6nglewood State.
In
Stockmen's Tr A 8
American
Central Mfg Dlst.
In
(00*
Note—Accrued interest
mua
t
be
added
to all
Chicago price s.
t Aug. 9 (close of business) for national banks and Aug. 11 (opening of
business) for State institutions.
Dividends not published;
<
* No
stock all acquired by the Continental A Commercial National Bank, a Due" Deo. 31,
Capital Increased to 31,000,000, the Oct. 1913 dlv. of 1X% being first div. on new
capital.
Y. 97, p. 155.
>* New ktock.
I June 5.
*t Sept. 19 1918.
n Aug. 28 1913,
0 Sept. 18 1913.
* Sales reported beginning April 18.
f Diva, are paid Q.-J.: with extra payments Q.-F. j
FJune 4. t Deo. 31 1912. v Ex
24% accumulated dividend,
to Increase In
capital to 3400,000 authorised Sept. 24, a caah dir. of 76% to he declared la coooeotloa "
With.
V, 97, p. 574.
y Aug. 22 1913.
s Capital
increased to 3300.000; V. 97, p. 705.V trr-*-* *
~~
- - —
c
s
Oese.
T
100
Comm'l Un Tel (N Y)._.26
Empire & Bay State Tel.100
Franklin
100
e Gold A Stock Teleg...100
e Mnckay Cos com
100
e Preferred
100
e Northwestern Teleg.^,..50
Pacific A Atlantic
25
e Pac Telep & Teleg pref. 100
Southern A Atlantic
25
•
EXCHANGE
transactions AT THE NEW YORK STOCK
DAILY, WEEKLY AND YEARLY.
4.
,
-
»
Railroad,
St ocks.
Ac.,
Monday
Tuesday
Wednesday
—
Thursday
Friday
Total
;
Stock
York
1913.
Exchange.
value
830,500
458,000
RR. and misc. bonds._
10,995,000
82
TRANSACTIONS AT THE BOSTON AND
EXCHANGES.
Philadelphia.
Week ending
Bond
Listed
Unlisted
Bond
Shares.
Sales.
Shares.
Shares.
Sales.
Shares.
...........
| Tuesday
Wednesday
4,843
10,844
6,016
8,396
12,895
9,166
6,020
10,975
Saturday
•Monday
7,947
13,513
.......
8,876
Thursday ..;
Friday
15,553
-
•
14,408
4,275
16,099
12,280
8,532
8,860
4,512
prices
Securities
"and Interest" except where
now
are
Ask
)
United Lt A Rys com—100
20
Bid
Street Railways
preferred.
100
preferred
.....100
United Rys of St Un¬
Bleeck St A Ful Fy
16
stk—100
J-J
64
140
160
..J-J
100
1st mtge Is
1960
1st 6s 1924
•
2d preferred
100"
M-N
1922
1st mtge 6s
100
1
115
125
Dry Dock E B A Batt—
1st gold 6s 1932
J-D
F-A
100
F-A
Sorip 5a 1914
Eighth Avenue stock
Scrip 6s 1914
42d A Gr St Fy stock...100
42d St M A St N Ave...100
220
70
75
997g
Consol
Rubber Tire
100
33
37
100
85
94
Debenture 4s 1951—A-O / 60
67
98
95
96
95
5.25
'44 J-J
Consol 6s 1945_._.
J-J
• NY Mutual Gas L....100
NY4QE1L A Pow Co.100
Preferred
100
N Y A Richmond Gas—100
North'n Un 1st 6s 1927.M-N
Standard G L 1st 5s '30 M-N
M-S /—
180"
Ninth Avenue stock
100 150
8
1
Second Avenue stock
100
30
Consol 6s 1948 ctfs__F-A r 25
112
•Sixth Avenue stock
100 103
8912 100
Boa Boulev 6s 1945
_.J-J
98
90
So Far 1st 6s 1919
..A-O
80
Tarry WP & M 5s '28..M-S / 76
14
/
5
28 A 29th Sts 6s '96 ctls A-O
260
220
Twenty-third St stocks. 100
103
100
Union Ry 1st 6s 1942..F-A
92
88
Westchester 1st 6s *43. J-J
95
90
Yonkers St RR 5s 1946. A-O
1st
1910
6s
—
9534
B B A W E 6s 1933
Brooklyn City RR
Bklyn Hgts 1st 5s 1941-A-O
Coney Isl A Bklyn
100
1st cons g 4s 1948
J-J
Con g 4s
J-J
Nassau Elec 1st 5s 1944 A-O
N Wmsburgh A Flatbush—
Brk C A N 6s 1939
78
Interoontln Rub
78
79
Internet Banking Co
95
Oom'w'lth Pow
•
77
100
'Preferred
^...100
sHavana Elec Ry L A P 100
Federal Light A Trac
{
'
«
•
•
•
e
'.
No Jer St 1st 4s 1948 IW-N
\
Cons Tract of N J
100
.J-D
1st 6s 1933
V
\ New'k Pass Ry 6s '80. J-J
v
Rapid Tran St Ry
v
v
1st
A-O
1921
6s
100
J C Hob A Pat 4s '49 M-N
So J Gas El A Trac. ..100
Gu g 6a 1953
M-S
No Hud Co Ry 6s 1914 J^J
Con M 6s 1928
Ext
6s
J-J
M-N
1924
Pat Ry con 6s 1931—J-D
2d 6s
1914 opt
Republic Ry A
light
100
100
Preferred
i
A-O
Tennessee Ry LAP oom.100
Preferred
.—100
•Toledo Rys A Light
Trent P A H 5s 1948
*
Per share.
subsidlaries.
If
any.
s
100
J-D
y
40
55
99
102
Manhattan Transit..
142
145
Mortgage Bond Co
100
100
50 *128
133
e
National Surety
100
170
—25 * 40
42
•
New York Dock
National Transit Co
50
New York Transit Co
104
312
318
114
Otis Elevator
188
75
77
Stand Oil of Indiana
100
388
392
Stand Oil of Kentucky.. 100
390
455
77
80
Stand OH of Nebraska..100
300
76
Stand Oil of N J
1U2
1212
Stand Oil of N J
80
Standard Oil subsidiaries
Newark Consol Gas
2*
—
BAN Y 1st 6s 1911
..100
90
*3l2
72
4"
100
378
20
100
*38
...10
73
76
96
Pettibone-Mulliken Co 10®
25
30
85
95
1st
com
100
50
preferred
Pittsburgh Brewing...
1534
95
96
mmmm
31
35
Whitney prof *..100
100
102
150
152~
Pratt A
293
300
Producers on_
100
130
Swan A Finch
'
100
285
295
Realty Assoc (Bklyn)... 100
106
100
78
80
——100
173
176
..—10
*33
36
85
871*
Vacuum Oil
91
95
Washington
135"
130
86
8D4
Tobacco Stocks
Amer
42
mmm
86
94
100
93
•
85
85
7912
101
Royal Bak Powd com.—100
Preferred __;
100
183
187
100
2538
26I4
*2588
♦2534
...
Stern Bros
40
105
111
761*
7412
93
e Helme
100
150
185
Texas fc Pacific Coal...100
90
100
100
109
115
•
Texae Pacific Land Tr.100
92
97
(Geo W) oom
Preferred
*
160
180
TonopihM in (Nev) -SeePhlla Stk E
180
200
Trenton Potteries com.. 100
Tob.100
215
230
Reynolds (R J) Tobacco.lOO
Tobacco Products com.. 100
240
250
100
120
Porto-Rlcan-Amer
45*i
95
95U
United Cigar Stores com.100
9134
9212
7
60
55
Dtectory
United Copper
100
100
7
12
100
3
Trow
mm
•
Preferred
U S
Envelope
115
225
285
110
120
U 8
100
140
100
U S Finishiirr
Young CJ S) Co
17
50
61
•
Adams Express
Col tr g 4s 1947—.
1st k 5s
130
100 125
75l2
J-D / 7412
100
100
Amer Bank Note oom.—50
*40
48
Realty
60
Preferred
102
105
American
Book
12
16
American
Brass
American
mmmm
mmmm
30
100
10o
•
60
58
American
25
80
Amer
99
101
Hardware
102
190
200
155
165
104l2 106
11
inn
29
34 '•
19%——'""" j-j
90
95
"
5s
69
24
26
inn
83
90
1911
113
114
Col s f Apr 5s 19* r*ot opt
113
114
Aiohol.
Preferred
U S Steel
Col
•
f Apr 5s 19-1
100
100
200
212
e
97
100
•
..100
100
117
120
Westchester
120
126
od
U 8 Tit Gu A
50
80
100
Malting 6s 1914..J
Amer Press Assoc'n
100
99«4 IOO84
80
35
•
'
Corponio^Il"
140
.100
»
*
73 4
J.J
!00
U S Indus
c
52
.
50
9
170
Am Graphophone com..
Preferred
921*
IOO"
700
160
Chicle com
American Expreca
♦50i2
«8
46
135
—100
100
Preferred
98
95
con g
•
110
Alliance
..100
oom
Expre*L
Preferred
Industrial AMlscellaneou s
101
100
Preferred
76
55
....100
Casualty
112
16
95
Prefehed
•
U S
..—10(1
Weyman-Bruton Co
«
Preferred
United pry Goods..—100
•
100
.....100
Preferred
33
lift
—.100
99
8
—100
Preferred
«
x
4
new
Preferred
90
74
25
.
293
35
100
pref
Us t.
295
91
88
801*
38U
45
Ex
Sulzberger A Sons Co pf_100
42U
3714
90
Preferred—See Clilc Stk
«
Singer Mfg Co
100
Standard Coupler com..100
Preferred
.....100
290
United Cigar Mfrs com 100
* Preferred
100
-
10212 104
270
86
•
99
MacAndrewa A" Forbes—100
rnmmm
*32
——100
68
Johnson Tin FoilAMetai 100
»
88"
84
1001*
2d preferred
100
e
96
37
99
Conley Foil—
108
M
_100
90
Tobac.£l
39
36
1st preferred
150
84
58
New stock
,
98l2
-
British-American
+
90
140
100
com
110*
com 100
RemingtonTyptwt'r
1111*
Safety Car Heat A Lt...100 110
Sears, RoebuckACo—SseN Y Stk E x list
100
Cigar
Preferred
Amer Machine A Fdy._
69
6712
90
42
*38
f
(See also Slock Exchange List)
821*
133
38
Oil......100 2100
Pierce OH Corp (w 1)
89
130
•
OH
Waters-Pierce
325
11
100
Referred
*755
9
100
com
If
92
Pittsburgh Steel prof. .100
Pope Mfg Co
.
35i2
1
60
Preferred
382'
*!
3
100
95
•
465
(dd).. 100 1155
...
s
80
Standard Oil of N Y—__100
mm
m
Companies
J-J
N Y A E R Ferry stock—100
110
1st 5a 1922
M-N
100
iooi2
21
N Y A Hob 6* May *46.. J-D
19
Hob Fy 1st 5s 1946..M-N
76
73
J-J
171* NY AN J 6s 1946
161*
100
10th A 23d Sts Ferry
69
71
1st mtge 5s 1919..
•
J-D
Union Ferry stock......100
94"
1st 68.1920
—M-N
Ex-rights,
.100
Union Tank Line Co
■—
100
Ferry
40
185
Standard Oil of Ohio...100
95
1938
60
J—100
1st g 4s 1949
101
J-D
103
104" United Qas A Elec Corp .100
Preferred
—.100
230
Western Power oom
100
100
Preferred
100
"77"
761*
Western States Gas A El—
127123
1st A ref g 5* 1941 op-J-D
981* 991*
95
25
180
100
310
74
e
'20'
10
100
...100
410
Standard Oil (Kansas)
1%
105
100
Preferred
218
831*
*118
.100
N Y Transportation.
Niles-Bem-Pond com
157
United Electric of N
101
133
153
184
Preferred
73
com.
...;
Lines. 100
*7
79
Preferred
«
80
20
N Y Mtge A Seourlty
N Y Title Ins Co
Standard Oil (California) 100
Refining....
Sou West Pa Pipe
-
90
72
100
68
list St Joseph Gas
78
Preferred
Northern Pipe Line Co.. 100
110
Ohio Oil Co
is-w
25 *131
92
x
100
Co
79
122
win be found on a preoedlng page,
100
—100
178
101
119
And accrued dividend,
* Ex-dlv.
Manhattan Shirt
355
com..
99
5s 1937—J-J
103i2 104iz Standard Gas A El (Dal) 50
V-fTr ctfis 6% perpetual
77
100 z345
100
174
Line Co
30
*89
96
Stk E
■
200
108
■
100
•Nor Ohio Tr A Lt com. 100
Pub Serv Corp of N J—See
Lehigh Val Coal Sales...50
67
.....
100
Preferred
•N Y State Rys com
61
Preferred
Co. 50
'44.Q-J
100
No Hud L H A P 5s 1938A-0
Pacific Gas A E com
100
~62*4
Preferred
100
70
"74"
Pat A Pas Gas A Elec—100
66
63
-J-J
New Orl Rys A Lt com.100
185
*59
72
Indiana Pipe Line
Narragan (Prov) El
Newark Gas 6s Apr
86
91
Louisv St 6s 1930.
100
X>li_—,
66
102
1022(4 10314
210
112
Co...50
Cumberland Pipe Line..100
Continental
1926.1A-O
80
100
Preferred
202
105
Madison Gas 6s
70
198
190
com.....100
78
76
110
108
........—.100
100
100
28
71
108
232
75
78
09
100
Detroit United Ry
•
76
68
100
Ry A Ltg oom
Preferred
125
228
25
100
.100
Preferred
S Conn
64
120
169
International Sliver pref. 100
1st 6s 1948
_J-D
Refg-.lOO
100
Lawyer*' Mtge Co
100
160
Gr't West Pow 5a
-
4
51
/ 49i2
300
Lanston Monotype
45
103i2 Hudson County Gas
Indiana Lighting Co
"56
3
Internet Smelt A
150
Co.—100
1946..J
ICO
.100
4s 1958 opt
—F-A
Indianapolis
Gas
50
1st g 6s 1952
.A-O
Jackson Gas 6s g 1937..A-O
•Laclede Gas preferred.. 100
102
'81F-A
Ry A L.100
106
104
130
Galena-Signal Oil
Gas A El Bergen
']■*
Other Cities.
Bull St Ry 1st eon 6s
Salt..
let g 5s 1951——A-O
660
Consumers' L H A Pow—
101
International
100
Preferred
22
100
103
110
115l2 1161*
675
363
100
9
105
120
100
OH
Eureka Pipe
J-D
Consumers Power (Minn)—
1st A ref 5s *29 opt '14M-N
Denver G A El 6s 1949.M-N
Elizabeth Gas Lt Co
100
Essex A Hudson Gas
100
7
100
100
share
Per
Oil
348
82
92
100
com
Ohio Copper Co
• Ontario Silver
85
95
100
Preferred
«
41*
47
43
120
__
Railroad Securities Co¬
1001*
334
Hooking Val Products.. 100
1st g 5s 1961
....J-J
e Ingersoll-Rand
com.
100
246
102
99
104
374
98
.
103
212
243
101
1941...F-A
J-J
15
100
370
77
Btelnway 1st 6a 1922
5
Herring-Hall-Marvin
.100
Co..100
80
.
98
..100
Hoboken Land A Improve't
1st 5e Nov 1930
M-N
Southern Pipe Lino
South Penn Oil
98
.
J-D
5
M-S
31
102
73
97
/ 60
_
1st 6s 1922
65
104
,
98
95
Hecker-Jones-Jewell Milling
Solar
102
25
~96~'
10
"88"
102
l7A
82
65
1st g 5s June 1 1922.
Prairie Oil A Gia.......100
99
1081*
*13s
5
76
159
>06
100
Preferred
48U
166
183
2
♦57
98
2
13
33
170
100
com
*29
_
87
"28
100
58
70
25
80
100
100
90
Colonial
99i2 100
*lA
20
preferred
*4714
—
86
Havana Tobacco Co
54
102
100
Columbia Gas A Elec... 100
1st 5s 1927...
—J-J
Con Gas of N J 5s 1986.. J^J
6s
Kilburn
175s
100
100
1
A
2d
128
124
100
1st preferred
25
~~134
*L*
....100
Preferred
20
£1 *21
Atlantic Refining
100 663
Borne-Serymser Co
100 280
Buckeye Pipe Line Co...50 *165
Cheeebrough Mfg Cons. 100
650
103
72
com
1534
87
100
Preferred
10i8
Crescent Pipe Line
Preferred
"
com
Empire Steel A Irou
9 81 j
97i2
Standard Oil Stocks
11712 lie
Bay State Gas
50
Buffalo City Gas stock.. 100
Cities Service Co com
100
98
15i2
Crucible Steel
•
70
Anglo-American
66
Amer Power A Lt com..
102
95
J-J
1955
1st 4^s July
100
'31A-0
A-O
10
84
100
...
*74
Am Lt A Trac
Preferred
80
Preferred
50
50
Preferred
■
371*
100
5%
5%
5%
997S
66
82U
Other Cities.
Am Gas A Elec com
Preferred
33
International Nickel....106
20
100
—„
Continental Can com...100
91
8218
...
Brooklyn
Attan Ave RR con 5s
9014
N Y A E R Gas 1st 6s
240
Preferred
97
55
preferred
2d preferred
.
100
64
1st
60
97i2 101
Heating
lli C stk tr ctls Ser A
Electric, Gas A Power Cos
New York City
'
58
100
..—100
com
...
Car
Wast Pac 1st 5s 1933—M-S
95
100
80
Consol
50
36l4
-
100
100
J-J
9912 10U2 Cent Un Gas 5s 1927
• Kings Co
33
/ 28
JE1 L A P Co. 100
New Amsterdam Gas—
310
280
1st consol 5s 1948
J-J
100i2
/ 99
Cluett.PeabodyA Co
60
«
11
10l2
94
\-v"* -i-f--
3
stklOO
Can Pk N & E R Retook.
Christopher A 10th St
Preferred
104
80
100
—100
preferred
"9978
28
Preferred
100
J-D
1951
West Penn TrAWatPow
78
9734
9934
100
preferred
Northern Securities Stubs.
4s
102
10
Cross town stock. .100
Cent
93
72
1st
100
.100
1st
2d preferred
*
81
100
87
135
Pitts Bess A Lake Erie
Wash Ry A El Co.
Preferred'
99U 100
32
100
29
«
A<*
--
133
28
•
NY Chic A St L ooin._100
•
79
-
120
129
9984
130
78*4
100
.100
110 '
Preferred
.100
71
Preferred
92
Claflln (H B) Co com.". 100
e
125
7712
0
89
100
Co.
City Investing Co
list.
118
69
common
66
B*y 4 7th Ave stk.
100
2d mtge 6s 1914
J-J
Broadway Surface RR—
53
100
100
Celluloid
9984
Preferred
/ 88
50
Casualty Co of America .100
1008s
3lg
100
Preferred
99i8
9634
Hale
2d
York City
107
*278
5
Brown Shoe com...
100
100
100
1st
New
105
97
75
Preferred
e
Bid
100
Preferred
British Col Copper Co
75
Colo A South com
«
marked *f
Street Railways—(Con
116
290 ;
118
99i2
M-S
Preferred
e
bond
'130
100i8
opt.J-D
1914 opt
Chio St P M A Om
e
All
122
285
Railroad
e
84
50
100
Preferred)
Bond A Mtge Guar
95U
6s 1912..M-S
Chl« A Alton com
«
Inactive and Unlisted
60
161914
99®4 100i8 • General Chemical com.100
• Preferred
100
Southern Ry 5s 1916.. F-A
9834 9914
10
97i2 Goldfleld Consol M
West Maryland 5a 1915.J-J
95
1003s k Hackensack Water Co—
Westlneh'se El A M 6s 1915
100
x list
Ref g 4s '52 op 1912—.J-J
6% notes Oct'17—See NYStk E
$143,100
61,493
33,416
$251,400
61,160
15
5
81
50
South Pac Co 5s J'ne
$8,400
22,100
48,400
24,100
15,100
25,000
.
•
62,884
Total
6s Sept 1
5
100
Preferred
Bliss (E W) Co com
95
100
Seaboard Air L Ry5sT6 M-S
6,899
2,637
6.606
5,429
5,872
$21,500
39,500
40.900
39,000
32,000
78,500
99
Barney A Smith Car com 100
75
92
99?8
1914...J-J
St L A S F 5s 1913
Unlisted
Listed
Oct. 10 1913.
96
1
1914-1925—J-J b 5.25
• Preferred
100
4^8 Jan 1914-1927—J-J b 5.25
Davis-Daly Copper Co
10
N Y Cent 4Hs 1914
m-S
9958
99l2 duPont(EI) de Nem Pow 100
4138 1915
m-N
99
e Preferred
100
58 Apr 21 1914
A-021
9978 IOOI4
Emerson-Bran ting ham
100
N YN HA Hartf 5s '13.J-D
995* 100
PHILADELPHIA
Boston.
g 6s 1939—M-N
Writing Paper
100
Deb
Amer
68
4Hs Jan
DAILY
98
45
Borden's Cond Milk com.100
4i2s_'14
Michigan Central 4i2s_ 1914
Minn A St L g Gs 1914..F-A
Mo Kan A Tex 6s 1915.M-N
Missouri Pacific 5s 1914.J-D
• NYC Lines Eq 5s 1913-22 6
$566,854,500
96
pref
Preferred
120
Lake Sh A Mich So
$1,091,000
22,304,000
543,459,500
100
Amer
1914...A-O ; 9914
Coil 5s April 1 1915.. A-O
98
Gen'l Motors 6s '15—See NY StkEx
HI Cent 4^s
1914
J-J
99i8
Int & Gt Nor 5s 1914..F-A
97'4
Inter Harvester 5s '15.F-A
9938
K C Ry A Lt
185
Typefounders com .100
175
*4
42
60
99*4
1914—A-OS
April 8
71
50
5
Thread
American
Coll 5s Oct 1
$633,100
$394,913,520
811.321,500
88,076,000
Total bonds...
Erie 6s
\
101,446,579
$9,163,802,475
$1,643,720
23,281,700
369,988,100
811,000
315,500
7,587,506
bonds
State
$30,500
68
American Surety
118
100l|
F-A
72
Bklyn Rap Tr 5s 1918—.J-J
Ches A Ohio 4 ^s 1914—J-D
1912.
67,786,180
$6,083,186,200
$139,600
Bonds.
Government bonds—
Balto A Ohio 5s
1935-A-Oj
Fdy 6s
Deb 4s 1923
110
63
87
85
1915—M- S
1914—.J-J
Amal Copper 5s
Steel
Am
As*
Bid
99
Indust and Mlscell—(Con)
63
105
Short-Terra Notes
16^556
8458,000
1913.
3,091,699
8161,509,150 8276,243,250
828,500
82,700
Bank shares, par
5,000
10,000
Central & South Amer.
ChicElev Rys 5s
1912.
<
.
$500
$145,000
115,000
63,000
28,000
70,000
37,000
Jan. 1 to Oct. 10.
1,828,875
Blocks—No. shares—
Par
Bonds.
Week ending Oct.-10.
Sales at
New
Bonds.
$7,587,500
1,828,875 8161,509,150
—
V. s.
$626,000
1,872,500
1,269,000
1,346,000
1,198,000
1,276,000
814,022,000
32,149,550
15,602,550
33,525,100
38,482,300
27,727,650
157,484
366,677
175,652
374,946
434,958
319,158
fiaturday
Value.
Par
Shares.
10 1913.
Oct.
State
Bonds.
Week ending
1
Ask
B>d
56
103
100
60
40
114
75 '
65
Telegraph and Telephone
e Amer Teleg A Cable—100
Stock Exchanges
Volume of Business at
1013
CHRONICLE
THE
111913.]
Inde%—,100
Virginia Iron C A.i__a00
Wells Fargo A Co..
iqq
A
76
~43~~
48
881!
90
Bron~TJtle
A Mtge Guar
Westlngh'se Air
165
...100
Bri^e_50
*
1351*
"59"
6®
—.100
85
92
Worthlngton(HR)Co pfiQQ
70
75
Willys-Overland
Preferred
eom-aoo
» Sale prioe. 1 Newjtook. u E*Infrequently dealt In; fcord of rJar
*
.
«v
•
v*
b Baals.
* Listed on Stock Exchange but usually Inactive. / Flat prioe.
n Nominal.
Includes all new stock dividends and subscriptions.
« Listed on Stock Exchange but
h Ex-300% stook OiTHJsnd.
1012
CHICAGO STOCK EXCHANGE-Stock Record.
STOCKS—I110HE8T AND LOWEST SALE PRICES
Sale*
STOCKS
«
4f the
Saturday
Monday
Oct. 4
Oct. 6
•25
30
•75
30
>
8i2
"•6i2
•30
<w ■
•
85%
95%
80
8%
814
2612
3912
♦93
29>4
*8%
*21f
35
*2 if
80
♦75
812
8%
25l2
39i2
612
'
( •SO
Oct
*25
85%
95%
30%
•93
\
Tuesday
*20
*5%
7
.
Oct.
♦25
80
•75
85l2
951,
291,
8*8
SI4
25i2
39%
41,
291,
*73i
*21,
♦20
*
41,
81
Last Sale 28
June'13
Last Sale 70
July'13
*80
85%
94*4
291,
8*,
3%
*734
*21,
♦20
Do
pref
200 Chic Rye part ctf
1,011 Chic Ry« part ctf
65 Chic Ry, part ctf
Chic Ryg part ctf
Kansas City Ry A
28%
8
8
Last Sale 27,
Nov'12
Last Sale 41
40
6
•41,
♦30
Oct'13
Sept* 13
Last Sale 25
30
♦30
85
"271,
•41,
35
6
"9""ib
85
35
*41,
6
*30
♦30
85
Lowest
Chicago^ lev Rys comlOO
96
29
33
•410
33%
8312
95
95
*410
430
'
430
135
84
♦
94
♦
135
•-III
•IIII
39
*38"
95
95
94
{128"
1
126
52
*•77
>
52
;
62
*50
52
*50
62
77
*76
77
*75
77
77
56
*49
54
63
5234
214
139
139
1012
631,
*212
216
54
53l2
*212
139
10
•212
*212" 2"l4"
214
138
1*9% "9%
100
9978
2534
♦99
99
62
*60
.[mm--
99
99
"99*4
99*4
*26
9978
2534
9978
*60
27
99
27
*25
26
•25
99
99
99
♦60
62
*60
62
9914
9914
62
62
99i2
99
Last Sale 107
77"
*74
t*121
*74
77
*74
123
*120
*74"
77
*121
123
125
77"
50 Goodrich
125
'12
120% 120*2
1*118
121
*118
121
♦118
121
t*115
♦118
121
Last Sale
120
*115
120
♦115
116
*115
116
Last Sale 118
*115
120
*115
120
♦115
120
114
*37%
383s
*89
92
1
*96
\
>
♦37
38
*37"
38"
*37"
38"
92
♦89
92
*89
92
*89
92
124
12414
81
124
124l2
*791,
97
97
*20
23
125
80
260
*104
*120
124
•22
I 191
191
23
♦22
80
23
♦79
80
*76
1047, 105
♦250
8112
•
'
1
58
69
•109% 109%
[
*8
10
78
Last Sale 92
*8
66*14
109U
10
10
520
65
567,
1091, 1091,
1091a]
10
*8
Aug'13
Last Sale H,
647,
56%
1091, 1091,
10
95
Last Sale 10 *
Aug'13
(00, em Uted.)
American
State.. W1200,0
In
1911.
Per¬
1912.
Calumet National
100,0
State..
200,0
Central Mig Diet.
250,0
Cont k Com Nat. 21.600,0
Corn Exch Nat..
8.000,0
300,0
QDrovers' National
760,0
Englewood State
200,0
First National... 10,000,0
12
17
12,126,7
FirstNatEngiew'd
12
160,0
233,3
12H
Foreman Bros
Frlv ate Ba
1,000,0
545,9
Ft Dearborn Nat.
8
2,000,0
892,4
8
XXalated St State.
200,0
27,8 Org.N or 25
Hibernian Bk Aasn
2,000,0 1,235,0 Notpu biiahed
JHyde Park State.
200,0
41.6 Beg. b ui Aug
Irving Park Nat—
100,0
12,5
Orga n, Feb
IKaspar State.
10
10
400,0
217,5
Lake View State.
200,0
7.9
Lawndale State..
200,0
159,4
'mmmm '
Live Stk Exoh Nat 1,260,0
10
10A2 «
623,8
Meob k Trad State
200,0
65,7 Beg. b US. Aug
Nat Bk of Repub.
8
8
2,000,0 1,504,9
National City
6
2,000,0
6
760,8
.
,
.
mmmm
mm
National
Produce
1
200.0
500,0
200,0
400,0
Security
South Chicago Sav
Booth Side State
200,0
200,0
1,500,0
State Bank of Chlo
'State Bank ol Italy
200,0
260,0
600,0
:8tock Yards Sav.
Union Bk of Chic.
iWashlngt'nPkNat
Central Tr Co of 111
Chicago City BAT
Chicago Sav B AT
Chioago Title A Tr
Colonial Tr A Sav
Cont A Com Tr A S
•
100,0
4,500,0
500.0
•
7
T
.
.
250.0
Franklin Tr A Sav
300,0
Greenebaum Sons
1,500,0
Guarantee Tr A 8
200,0
Harris Tr A Sav..
Home Bank ATr.
1,500,0
300,0
Illinois Tr A Sav.
6,000,0
Kenwood Tr A Sav
200,0
Lake Vie wTrASav
X200.0
LaSalleStTrASav
1,000,0
Liberty Tr A 9av.
250,0
Market Tr A 8av.
200,0
Merc'ntlleTrASav
260,0
Merchants' L A Tr
3,000,0
Michigan Ave Tr.
200,0
Mld-Clty Tr A Sav
;Northern Tr Co..
500.0
1,600,0
Nor-West Tr A 8.
250,0
Old Colony Tr AS
200,0
.People's Tr A Sav
500,0
Pullman Tr A Sav
800.0
Sheridan Tr A 8av
200.0
JJ
130
(if)
1H 110
U8.9 Beg. b
6
166,5
8
138,5
6
US
110*, Sep 12
111*4 Feb
80i2 Sep
Dec
1021, Mch
56
Jan
73i, Sep
105i2 Deo
1267, Sep
60i2 Sep
100
2
J'ne 12
"j'ne
100
105
12
130
Sep 15
114
...100
117
Oct
2
123
Jan
113
J'ne
2
1221, Feb 17
118
63
Jan 27
104" "j'ne
10
65
Jly 10
901, J'ly 23
136" Sep
69
124*4 Feb 17
Quaker Oata Co 100
Do
pref
......100
Union Carbide Oo
100
1077, Mrh
195
J'ne 12
280
99*4 J'ne 24
1481, J'ne 10
614 J'ly 31
rights
Jan
1
50
Ward, Montg'y k Co pref
17
J'ne 11
100
1051, Feb 19
9
J'ly 22
100
com
87% Mcb 24
144 Jan
112
10
6
8
Ask.
0
Union Trust Co__
West Side Tr A Sav
110
Woodlawn Tr A B
144
49,1
1,631,3
116,0
107,8
8A2«
6
8
8A2*
10
Sep
Laei Paid.
% Rid.
V. 95,
125
'13, 1% 161
145
3
Q M Sep.30*13,2
165
July 13,
Q-M Oct.
Q-J
CHICAGO STOCK
mmm
Inter¬
Price
est
Friday
Week ending Oct. 10.
265
period
Oct. 10.
Bid
136
Am Tel A Tel ooll 4s.
Armour A Co 4K*
242
1929 J
Auto Elee 1st M 6s
120
134
1928
-
Week's
Range
91
t"35$4 Vi"
X
75
77
96
t
Chic Rye 4«
Chic Rys ooll
1
Common w-Edlaon 5s
921,
981*
65
90
Oot '13
88
94
Sale
98
98i«
96
Sale
92
931,
941,
t 92
1943 M- S *101*4
Sale
Sale
96
Sale
141
145
Dla Matoh Con deb 6s
1920
1051,
178
182
2 H 225
2M 219
Gen Mot 6% 1st L notes.1915 A-O 1
Int Har 3-yr 5% g notes.1915 F-A
Inland Steel 1st M g 6s..1928
232
Kan
330
1105
98
Sale
99
1913 M-N
5s
Lake St El—1st 5s
Sale
8175
180
Metr W Side El 1st 4s...1938 F-A t 79*4
Extension g 4s
1938 J - J t—
Mil El Ry A Lt 1st g 5fl—1926 F-A 1103
—1928 J
-
J
do
ref A ext 4Hs--l®31 J
—1939 J
Morris A Co 4Ha
Nat Tube 1st g 5s
167
mtmm
155
148
152
490
195
172
'
185
102
-
J t
94
-
J t
861,
Sale
—1952 M-N
107
*"98"
99"
Oct
N W G L A Coke Co 5s—1928 Q-M t 99
100
Ogden Gas 6s
—1945 M-N : 96*4 Sale
Peop Gas L A G 1st 6e—1943 A-O
99*4 Sale
Refunding gold 5a
1947 M- S
Chio Gas L A C 1st 69-1937 J - J *101
82
81
1047, Apru'12
95
April'12
861,
86*2
100*4 May'12
103U April'12
96
Aug'13
96*4
96*4
1151, Sept '12
99*4
9978
10U, Oct '13
100
Aug '13
Sep *13
92
93
South Side Elev 4«s
1924
1914 J
212
220
Trl-City
317
323
280,4
51,0
180
this day.
Pub Serv Co let ref g 6s. 1956
Ry
A
Lt
yi'i
-
J
92
9U,
991, 100
"86" " 89"
"»6~ "lob""
931,
9U,
99*4
Sep *13
9U,
Sep'13
99% 100%
93%
97
99% 102
100
98U April'12
85
April'12
1945 A-O
6a..—1922 M- S
116
117
U 8 Gypsum 1st g
290
298
Western Elec Co 5s—1922 J
-
100
J UOOl, 102
May '12
991, July'13
99% 101
r.4*
r
Note—Accrued Interest
mus
t
be
added
to all
Chioago
'
,
n
price s.
t Aug. 9 (close of business) for national banks and Aug. 11 (opening of business) for State
Institutions,
Due June,
r'lce Friday; latest price thisDue Jan. | 1; Extra div. 1| Dividendsincreased
Sept. 1 1911.
not published;
Due Feb.
d week.
< Capital
103
99% 100%
99% 100%
91
97%
90% 93%
99% 100%
ooll
trust lien s f 6a...——1923 A-O
Union Elec (Loop) 5s
145
*87
76%
100
Swift A Co let g 5s
on
"99" "99"
78
101
135
Bid and asked prices; no sales were made
99% 102%
99% 100%
102*4 108%
75
100"
165
Sept 30T3.il, 140
9
79
99
435
Q-J
"25 "997, '103%
79
99
130
8
68
*12
-D
1936 J
429
'13. 2
991, 1011b
951, Sept '12
4
1%
Ap 10'1 l.V.92,p.l004
8
Q-J Sep. 30T3.2
8
J-J
July '13, 4
?52,8 Beg. b ua J'ne 1 11 V 92, p. 1537
8
224,5
Q-J Oct. '13. 2K
295
45
12
79*4
lOOU July *11
100
Sep'13
Consum Gas 1st 5s.
121
10
Sep*13
Mutual Fuel Gas 1st 5a 1947 M-N
176
93
"72" *75"
793,
1911 M- S
North West El let is
180
July'13
Nor Sh Gas of 111 1st 5«—1937 F-A
450
485
79
1041,
941,
Nor Shore El 1st g 5s.
1922 A-O
do
1st A ref g 6e—1940 A-O
.
51
lOOU
96*8 Deo '12
101*4
10114
IOU4
IOU4
99U Juno'13
1041, Sep '13
99*4 April'12
75
,
..I
93
'12
Sep *13
60*4
90
150
215
257
Oct'13
100
99
lOOtj
90
94*|
771,
84
81*4
Sep *13
Jan
991, 1017,
78*4
89
1051, April'12
145
/
74
11
City Ry A Light Co
212
(H)
931,
81*4
93
100
74"
100*4
300
»1*
1007,
78i2
Sep '13
5s...61943 M- 8 JIOIU
Elec
60
91
897,
7814
1924 M-N J100
Commonw
High
91
96*8
1913 F-A
J
100
Low
81*4
series "C" F-A
-
No.
13
Sep '13
8214 April'12
96ig May'12
981,
92*4
1927 F-A
68..
High
Feb
01
97
Cudahy Pack 1st M 5s
Oct.
.
for
Year 1911
Sale
135
Q-J
221
Rants
Sold
or
Last Sale
Atk Low
J
1939 J -D
Chic Rys 5e—Aeries 'A" A-O
Chic Rys 4s
series "B" J -D
142
215
8
HI
300
*13, 3
'13,
2K 215
Oot
186
398
8
150
BONDS
130
mmmm
Ask.
18. 120
p.
180
443
395
us.
15NoV
Chicago Bond Record
__
260
12
mmmm
80i, Sep
416
693 118
484 161
112,5 Com .b
8
2,908,5
8
151,4
""l7| Jan"
292
Cicero Gas Co ref G m..1932 J
-W30.5 Org. S ept. 5 '12. V. 96, p".
147,0 Beg. b us J'ly 1 '12 V. 94, p.
15
16
7.233,1
Q-J Oct. '13,
73,0
Q-J Oct.'13,
•12.
J-J
8A2*
258
__
Nor
Q-M Oct.
"a"
260
148
9
iod.
250
163
*it Slay
681% Feb
Per¬
1%25,7 Or*. J uly
421,0
Standard Tr A Sav
Stockmen's Tr A 8
mm —
In
1912.
253
...
Jan
3
1911.
Chlo Ry Pr m M g 4s_cl927 j.j t
Chic Ry AdJ Inc 4s__.<1927 Mayl t 50*4
Chicago Telephone 6e
1923 J -D tlOO
.
Nov
110
234
**
2
In
109
8A2«
460,5
1,967,6 Not pU bllehed
BC e note (T[)
10
171,2
8%
Q-J Oct. '13, 2 H
16
None Q-M Dec30'll, 4
3.249,1
15,9 Beg. b us .Apr 3 '11 V.92,p.929
118,7 Beg; b us .Apr 8'12 V.94, p.1030
10
286,2
2X
Q-J Oct. '13, 2H
6
152,0
J-J July '13, 8
12
12
2.410,5
Q-J Oot. '13, 8
82,2 Beg. b us .Apr 10*1 l.V.92,p.l004
10,438,1 16&4« 16A4*
Oct. *13, 4
f
7
7A2e
99,6
Q-J Oct. '13, IK
6
6
94,6
Q-J Oct. '13, IK
292,7 Beg. b us. Ma y'10
•12.
1X27,9 Org. D ec. 6
397
1061, Jan
,135*4 May
DU%dena Record
Swry. A
Stock, t Profits.f
173
300
Jan
Jan
Capital
NAME.
Oct.
Oct/13,
10A2« J-J July '13, 6
6
Q-J Oct. *13, 1H
8
Q-J Oct '13,
2X
8A2«
Q-J Oct/13. 1 Mi
215
Feb 15
„
o
98*4
61, J'ly
9
11, Feb 10
2
68*4 Jan
111
Sep 17
Chicago Rys 5e
Q-J
307,
6
1081, Feb 15
2061, Jan 10
172
8
991,
121i,
92
_
Stone
94i, Apr
jl07i, Apr
Dec
987, Nov
Apr ,1031, Oct
Jan
22D2 Nov
Jan
125*4 J'ne
49
J'ly
Aug
Deo
971, Aug
Jan
10914 Apr
Deo
140
Feb 13
34
Sept30'13 m 166
M-N May'13,
Q-J Oct' 13.
:
Apr
Deo
80
98
94i2
May 19
Jan
67
122*," Oct"
1031, Jan
:
2
117
x
Sep
120
J'ly
!
6
214*4 Jan
1611, Apr
130*4 May
135
Feb
61
Feb 21
97*, Feb
J'ne 11
200
6
23
155
220
Oct/13,
2
Q-J July'13,
1H
Q-J Oct. '13, 3
US. Aug 19'1 2 V.
95, p.623
10
Q-M Sep.30 '13»4
115
*
85
Aug 14
101*, Jan 13
19
Aug 29
401, Aug 4
Deo
Mch
103
Jan 25
J'ne 27
35
Sale
Q-J
14
11U, J'ly 14
8
12
2,661,8
149,8 Beg. b
8
247,1
6
166,1
76-3, Aug
122% Oct
100
Carbon
Cal Gas A El unif A ref 5e 1937 M-N
.
May
67
Chicago City Ry 5s
1927 F-A 11001,
Chia City A Con Rys 5e.41927 A-O
781,
Chioago Elev Ry 5*
1914 J - J
Chic Pneu Tool 1st 6e_.el921 J - J
89
*12.
Jan 23
115
116
1^ 167
1H 136
211, Oct
87
Oct
Deo
100
8
Oct
225
'18.
Mch
87
259
k)ct.'13,
J'ne
150
Feb 11
215
Q-J
Q-J
Q-J
Q-J
Q-J
222
Feb
256
Q-M Sep.30'13,3
26'1 2 V 95, p 693 130
Q-J Sept30TS,2
217
2
Jan
10
77
J'ne
J'ly
Of)
V. 96, p. 273. 132
V. 94j p 465. 116
237
July '13, 6
184
95
13514 Jan
31
EXCHANGE
260
mmmmmmmm
Q-J Oot'13,
Q-J Oct. '13,
65% Oct
16
11
29
63
190
27
8*
260,0
•12;
Mch
Sep 24
mm
se e note
655s May
44
551, Sep
221
Sep
155
Sep
161, Jan
Mch
97
Oct'13,
1H
V.95,p.1944
Q-J July'13,
2H
Nov I'll V.93, p.1235
6
Q-J Oct. '13, 2
8
8
6,000.0
—
'12.
'18, 2% 330
'13. 2
10
6
Ft Dearborn Tr A S
1912
Oct.
Mch
Feb
89
103
132
8
iOOO.O
3,000,0
mm—mm
Q-J
77
49
55
Feb 13
J'ne30
128
or.
109,6
25,4
Q-M Jne 30
nk
6
Jan 29
71
6
Mch22
'Oct. '13, 1H
8
23,2
Drovers Tr A Sav
*
6
2,115,9
379,5
1311,7
1,000.0
5.600.0 12,263,2
First Trust A Sav
-
-
6
14,4
6
63,8
10,6 Org.N
300,0
Ogden Ave State.
People'sStk YdaSt
Second Security..
:
114,9
1101,2
250,0
200,0
200,0
North Ave State.
iNorth Side St Sav
North West State
-
Q-M Sep 30T3,. 4% 439
3
897, Jan
63
100
Southwest Tr A S
% Bid.
Jan
1987g Mch
70
Deo
Feb 11
(00* om Uted.)
iod.
Dec
3
99i2 Oct
761, Jan 31
Woolworth.
Last Paid.
3206,7
2H
Sep30T3,l%tc 220
""5"
62,6
None
An Jan '13,
160
8
20,9 Org. J an. 27 '18. V.95, p.1585 106
o31,0 Beg. b ua.Oet 7*12 V. 95, p. 944 139
10
10,540,1
10
290
QJ Oot. '18,
S
16
6,654,3
16
410
Q-J Oot. *18, 4
6
118,9
•
QJ Oct. '13, 1H 216
10
10
393,9
Q-J Oct. '18. 2H 250
6H
8
57,8
Q-J Oct. '13, 2
176
Capital
jDrexei State
In
Oct
138
25*4 Oct
Surp. A
Profits t
61
1063s Oct
3
J'nell
S
Stock.t
135
Feb
98
Dieidend Record
Capital
Jan
1
Aug
22
Chicago Banks and Trust Companies
NAME.
131
Sep
J'ly
Apr
45
101
Weetern
Last Sale 91*4 May'13
405
100
100
k
Do
6012
126
Feb
94
Unit Box Bd k P Co. 100
2,655 U S Steel 00m
..100
July'13
55*,
Oot
Feb
100
145 The
192
47
91
325
100
626 Swift
Jan
2
Co
105
260
191
May
pref
105
260
117* Apr
62
J'ne
lit, Jan
Jan 13
65
100
Do
Dec'12
25
Sep
60>2 Jan
Mch
6
pref
1047, 105
260
3
25
(B.P.) com.100
Marx pflOO
Studebaker Corp com. 100
1041, 1041,
567,
♦8
Do
J'ne 10
77
Do
pref
100
Sears-Roebuck com..100
200
"T"
67%
109U 109U
3",495
Last Sale 119%Sept'13
Last Sale 22
Sept'13
260
8
People's Gas LACoke.100
260
|
1
56
23"
Sept'13
Jan
57, Jan
1031, Jan
139*4 Jan
5
Apr 26
1251, J'ne 10
20 Pub Serr of No III com 100
14
Do
pref
100
25 Rumely common
100
181% 184
Last Sale 6
,
Y.OOO
811,
♦20"
Last Sale 45%
18278 184
Match
J'ne
200
Do
1047, 105
260
1041, ♦104
104%
193
1921, 194l2
191
-
64
186
♦1191, 121
260
104% *104
23
*47
1047, 1051,
*250
*20
182
23
♦79
105% 105%
23
97
54
1
•250
*96
18612 187
121
*22
123*2 12518
♦791, 81
♦47
64
81
97
*20
20
*119if
12512
♦791,
*96
186t2 187%
23
*79
38
*47
54
121
*22
♦37
*89
Jan
11
Oct
14% Aug
40
Oct
Feb 11
135
731, J'ne 10
40
J'ly 8
471, J'ne 12
pref
100
10 Pacific Gas k El Co.. 100
Do
preferred.
100
38
20
1877s 188lf
{•119%
17
92
125U 125%
81
*7912
9512
95%
23
National
Sept'13
38
9612
| *20
,♦47
>
117" " Oct'13
*89
126l2 12612
81
*79U
r
60
100
100 National Biscuit
Do
pref
115
t
t
J'nell
500
Sep 17
Sep 18
122l2 Oct 10
Internat Harvester Col 00
Knickerbocker Ice pf.100
July'13
Last Sale 76%Aug
*120
1st pref
200 Hart Shaff &
20 llinois Brick:
~62~
♦60~
Aug 28
Cal k Chic Oanal Jc D 100
Chic Pneumatic Tool .100
"149 Diamond
26
99%
62
J'ne 10
93
530 Corn Prod Ref Co cbml 00
Do
pref
100
99
*25
99*4
26
38
J'ne
3
461, Jan 31
12914 Jan 30
39
Chicago Title & Trust 100
835 Commonw 'th- E dison. 100
Feb'13
Last Sale 77
81
130
75
13812
9*s
9U
Do.
Apr
93*4 Jan
6
MchlS
45
40
1043s Jan
19*4 Nov
5
9% Jan
Sep 22
Nov
25
9
Sep
2
45, Apr 5
37
Sep 26
7
430
v
Shipbuilding...100
75
Sept'13
3314 Sep
21i2 J'ne 10
Do
77
■
25
pref
100
Telep A Teleg__100
10 Booth Fisheries com
100
"803
53*4
140
10
631,
214
138*4 139
10U 10%
10l2
Last Sale 52
J'ne
"412" Oct
475 Amer
13H2
*60
*76
*49
214
*26%
:
*51
62*4
10%
1566"
;
1221",
May
Dec
16% J'ly 24
100
pref
100
American Radiator..100
Do
pref
100
Amer
90
83
3
•
Do
6
Jan 20
6
.
94
Jan
91
9
52
1231, 124
57
153
163
-
124% 124U
1241, 12512
947,
Sept'13
04.
77U
210%
V 1012
*
94
62
*49
52*4
•212
Last Sale 41
41
77
57
6234
93*4
680
Last Sale, 430 Sept'13
Last Sale l30*4Sept'13
52
77%
*49
r
5i, J'ne
Highest
102\ J'ne28
J'ne 10
2
Lowest
30
Jan 14
18
"3"
2,100 American Can
851,
835,
.
95
94
135
94
126
39
84%
83*|
430
m
39
93
128
*38
t
34
94*4
440
135
*38"
331,
95U
33U
9514
88
"4".__
Lt_100
Miscellaneous
33%
94%
04%
Yetr (1912)
Highest
241, J'ne 4
70
J'ly 16
___1Q0
"1"
"2"
Do
pref
100
Streets W Stable C L-100
Do
pref
l.ioo
\
•
Ranee ror Year 1913
Shares
10
80
*75
*93
Oct.
Oct.
9
Range for Precious
CHICAGO STOCK
EXOHANGI
Week
Friday
Thursday
8
*25
612
81
Wednesday
t No
stock all acquired by the Continental A Commercial National Bank, a Due Deo. 31.
to
31,000,000, the Oct. 1913 dlv. of 1H% being flrBt dlv. on new capital.
V. 97, p. 155.
Aug. 28 1913.
0 Sept. 18 1913.
x Sales reported beginning April 18.
f Divs. are paid Q.^J., with extra payments Q.-F.j
t June 4. t Deo. 31 1912. » Ex
24% accumulated dividend, to Increase in capital to"
3400,000 authorised Sept. 24, a oaah dir. of 75% to be deolared in oooueotloA 1"
With.
V, 97, p. 574.
y Aug. 22 1913.
x Capital increased to
3300,000; V. 97, p. 705. —-*
—
c
k New stock.
e
I June 5.
m
Sept. 19 1918;
n
0<®.
C
Comm'l
EXCHANGE
TRANSACTIONS AT THE NEW YORK STOCK
DAILY, WEEKLY AND YEARLY.
': "'■1' ,.' '•
'f;
Ac.,
State
U. S.
Bonds.
Bonds.
Bonds.
Week ending
•
Shares.
10 1913.
Oct.
Monday...
...
Tuesday
.....—
Wednesday
374,946
434,958
319,158
......—
Thursday...
Friday
.............
'•
Stock
York
Nod
'
-
j
28,000
70,000
37,000
is~o56
'
.
value
Bank shares, par
$11,000
315,500
$1,643,720
23,281,700
369,988,100
bonds.—
Government
$30,500
458,000
•
bonds
State
bonds..
RR. and misc.
10,995,000
$30,500
$1,091,000
22,304,000
~63~
85
95
$566,854,500
Unlisted
Bond
Shares.
Shares.
Listed
Shares.
Shares.
6,020
Tuesday
.......
Wednesday
Thursday
12,895
9,166
8,876
..........
Friday——
15,553
—
Debenture 4s 1951
95
b 5.25
99
M-N
A-021
..
21 1914
9978
6s 1913 opt.J-D
.
98%
Securities
Inactive and Unlisted
Preferred
•
^
prices
bond
now
are
"and Interest" except where
33
General Chemical com. 100
170
183
100
106
108%
Preferred
e
"
•
A
Kilburn
preferred
10
1st g 5s June 1 1922.. J-D / 60
Hecker-Jones-Jewell MilUng
98
1st 6s 1922
...M-S
29
70
NY Chic A St L oom. .100
54
58
.100
—
90
65
66
Herring-Hall-Marvin
5
15
100
103
"88"
78%
Northern Securities Stubs..
102
104
Hooking
71
Pitts Bess A Lake Erie. —50
*29
31
..50
♦57
65
stk..100
J-J
16
64
20
140
160
1960
1st mtge 4a
Wast Pac 1st is 1933..M-S
78
Common
66
99%
4
Wash Ry A
100
—100
El Co
Tarry WP A M
Twenty-third St stock..100
1942—F-A
Westchester 1st 6s '43.J-J
Yonkers Bt RR 5s 1946.A-0
Union Ry 1st 6s
88
B B A W E 6s 1933
1939——J-J
Nassau Eiec 1st 6s 1944 A-O
N Wmsburgh A Flatbush—
1st 4>*s July 1941...F-A
Steinway 1st 6s 1922
J-J
Brk CAN 6s
•
Stand Oil of Indiana——100
Standard Oil (Kansas)
-J-J
1936—J^J
J-D
Denver G A El 6a
•
'14M-N
1949-M-N
1946..>J
Indianapolis
Gas
1st g 5s 1952
.A-O
ckson Gas 6s g 1937..
71
77
rLaclede Gas
28
preferred.
\
v
N
Cons Tract of N J
1st 6s 1933
100
72
J-D
103
100
1st
5s
A-O
1921
J C Hob A Pat 4s '49 M-N
So J Gas El A Trac—.100
Gu g 6s 1953
M-S
No Hud Co Ry 6s 1914 J-J
Con M 6s 1928
J-J
Ext
6s
1924
M-N
Pat Ry con 6a 1931..J-D
2d 6s 1914 opt
A-O
list
Preferred
76%
5s 1937—.J-J
98%
Per share,
subsidiaries,
If
any.
e
100
173
176
36
Realty Assoc (Bklyn)...100
RemlngtonTypewt'r com 100
let preferred...
100
2d preferred.....
100
Royal Bak Powd com...100
Pierce Oil Corp (w
89
82%
94
102"
110
Singer Mfg Co
.100
295
58
Standard Coupler oom. .100
Preferred
100
35
Fdy—100
Tobac.£l
....
19
21
171*|
Sulzberger A Sons Co pf.100
91
93
185
Texas A Pacific Coal... 100
90
100
Pacific Land Tr.lOO
92
109
115
e Texas
160
180
TonopahMin (Nev) -SeePblla Stk E
100
180
200
Trenton Potteries com.. 100
Tob.100
215
230
Reynolds (R J) Tobacco-100
240
250
4
95
Preferred
100
120
100
Preferred
United Cigar Mfrs com
4
88
42%
95%
9184
45*4
100
80%
Ex-rights,
t
U S
Preferred
110
120
140
100
6*
102
100
100
190
200
155
165
100
....
100
104% 106
100
46
11
.
50
100
*
17
51
•
Adams
Express
Col tr g 4s 1947
Alliance
95
Realty
...100
...100
oom..—50
50
American Book......—100
American Brass
.....100
American Chicle com
100
Preferred
100
Preferred
105
15
55
mm
m>w
rnmmmmmmm
American Express.
•
126
100
♦46
58
American
30
Amer
99
101
Hardware
100
Malting 6a 1914—J-D
Aasoc'n.
100
Amer Press
e
29
34
J-J
90
95
(
J-J
09
73
*
U 8 Indus Alcohol
100
24
26
100
83
90
113
114
113
114
4
~
—<-*'• "V
Preferred
U S Steel Corporation—
Col sf Apr 5s 1951 op 1911
Col s f Apr 5s 1951 not opt
52
160
170
135
140
U 8 Tit Gu A Indeto
209
212
4
Virginia Iron C A C
97
100
e
Wells Fargo A
120
Westchester
117
A
100
100
Co.....100
Bronx
m
m
mm
48
88%
90
Title
'
99% 100*4
80
Worthlngton(HR) Co pf.100
.
120
50
80
126
35
e
"
75
43
A Mtge Guar
100 165
—
«
Westlngh'se Air Brake.50 *
66"
Willys-Overland com...100
85
Preferred
...100
_
100
Preferred
48
♦50%
Am Graphophone com.. 100
.
75%
110
100
100
1st g 6s 1919
Con g 5s 1929
130
J-D / 74%
.—100
Preferred
Young (J S) Co
50
--- - --
%
9
k Listed on Stook Exchange but usually inactive.
/ Flat prioe. » Nominal.
Includes all new stock dividends and subscriptions.
« Listed en Stock Exchange but
diyidend.
3
100
;
U 8 ExpressU S Finishing
b Baals,
h Ex-300% stook
12
100
Casualty
115
285
25
—M-
7
U S Envelope oom
112
225
Industrial AMlscellaneous
30
—.100
100
Dry Goods
100
75
<m
55
Preferred
e
99
92%
7
60
Preferred
Weyman-Bruton Oo___ 100
e Preferred
—.100
Preferred
4
Directory
United Copper....
United
list
100
_100
Trow
e
X
4
Preferred new...
90
100
United Cigar Stores com. 100
38%
60
•
94
97
100
Tobacco Products com.. 100
■
76%
290
150
Porto-Rican-Amer
8
25
40.
III
74%
270
Preferred
e
33
95
100
pref
398
105
100
MacAndrewa A For bee
86
101
71
100
...
Stern Bros
Us t.
Ex
Johnson Tin FoU&Metal 100
38
98
76
161*
26%
26%
♦25%
♦263*
Preferred—See Chic Stk
e
W) oom..100
•___
Helme (Geo
e
108
92
45
10012
187
111%
Safety Car Heat A Lt—100 110
Sears, RoebuckACo—SeeN Y Stk E x list
68
Conley Foil
122
90
101
102% 104
90
90
98%
99
183
100
150
New stock
100
100%
84
British-American
.
99
140
Amer Machine A
69
90
39
36
100
Preferred
"
110
106
(See also Stock Exchange List)
Cigar com
100
42
67%
130
100
Preferred
42
^38
Amer
133
86
1)
Tobacco Stocks
12
will be found on a preoedlng page,
80
135
102
78
y
Producers on
295
78
Amer Bank Note
95
And accrued dividend,
s Ex-dlv.
300
285
Washington OU
—.10 *33
Waters-Pierce Oil...—100 2100
Ferry Companies
100
J-D
293
95
90
99*2]
1st 6s. 19 20
♦
10(
El—
102
100
16
Western States Gas A
100
100
87%
74
Preferred
77
35
Whitney pref.-.100
Pratt A
85
II
31
152
91
81%
9
100
150
Vacuum OU
37%
101
100
*755
95
92
..100
com
■referred
Union Tank Line Co
79%
127
Pope Mfg Co
Swan A Finch
♦7
Preferred.
"
382
Standard Oil of Ohio—.100
96
85
104
378
35%
50
—
100
Standard OU of N Y
*32
73
Preferred
100
50
Pittsburgh Steel pre!..100
«4d) —100 1155
Standard OU subsidiaries
80
100
100
Preferred
Toledo Rys A Light
Trent P A H 6s 1948
St Joseph Gas
79
100
Republic Ry A Light
Tennessee Ry LAP oom. 100
i
66
x
100
123
73
95
85
230
v
Stand Oil of N J—.100
84
101
New'k Pass Ry 6s '80.J-J
Rapid Tran St Ry
v
68
78
12%
37
74
103% 104%
V'No Jer St 1st 4s 1948 M-N
310
96
"62*i
rTr otfis 6% perpetual
\
300
Stand Oil of N J
93
100
14%
Stand OH of Nebraska..100
76
119
102*4 103%
95
1534
80
*89
96
30
85
e 1st
preferred
Pittsburgh Brewing..
38
..F-A
25
e
465
130
4s 1958 opt
Petti bone-Mulliken Co 100
392.
410
325
103*2
76
96
455
11%
1927
73
95
388
74
*£
3
100
com
...
390
Stand OU of
*%
10
.100
—100
—100
77
5s
20
com...100
Kentucky.. 100
X*
.100
75
Stk E
A"
77
86
70
♦3%
72
Y Transportation
75
78
100
•Nor Ohio Tr A Lt com. 100
Pub Serv Corp of N J—See
N
Preferred
130
70
—100
90
Otis Elevator
86
Preferred
80
157
101
75
4
40
185
188
1st A ref 6a '29 opt
ir'i.
95
80
Now Orl Rys A Lt com.
25
180
153
184
100
Refining.....
"20 "
10
100
100
Preferred
e
Sou West Pa Pipe Lines. 100
Standard Oil (California) 100
103
..100
•
104
com..
105
133
„
Consumers Power (Minn)
69
•N Y State Rys com.
100
20
N Y Mtge A Security...100
N Y Title Ins Co
100
68
78
J-J
New York Dock
114
108
6s 1938..
76
St 6s 1930
•
318
New York Transit Co... 100
Consumers' L H A Pow-
•Havana Elec Ry L A P 100
!
e Preferred
100
4 Loulsv
42
312
National Transit Co
50
101
67
100
91
25 ♦ 40
Northern Pipe Line Co.. 100
110
Ohio Oil Co
25 *131
79
99
105
56
-
170
232
82
25
100
30
4
1%
100
National Surety
228
85
64
Preferred
100
e
363
1st
L.100
100
100
100
Federal Light A Trao—.100
Mortgage Bond Co
133
348
Con Gas of N J 6s
102
*1%
145
Niles-Bem-Pond
102
55
99
142
100
Preferred
Ohio Copper Co
e Ontario Silver__t._
Columbia Gas A Elec... 100
40
100
Preferred
Indiana Pipe Line Co....50 *128
2
83%
..100
Manhattan Shirt
Manhattan Transit.
218
....
112
80
178
374
Gr't West Pow 6s
Detroit United Ry
«
77
355
246
159
68
55
210
212
243
Preferred
102
Preferred
;
Conn Ry A Ltg oom
< Preferred
—.100
160
45
200
370
Preferred
'81F-A
Oom'w'lth Pow Ry A
150
202
Southern Pipe Lino Co.. 100
South Penn Oil
100
98
92
99
102
Lawyer*' Mtge Co..—.100
Lehigh Val Coal Sales...50
198
Solar
102
98
104
98
108
108
Prairie Oil A Gas—.100
Other Cities.
<
Buff St Ry 1st con 6s
.
,
98
99% 100
102
110
J-D
1st 6s 1948
130
50
Cumberland Pipe Line. .100
Bay State Gas
...
50
Buffalo City Gas stock.. 100
Cities Service Co com..
102
101
t
100
125
Internat Smelt A Refg—100
Lanston Monotype
.100
169
660
Crescent Pipe Line Co
4
51
120
pref.100
76
95
80
77
10
Bklyn Hgts 1st 6s 1941.A-O
Coney Ial A Bklyn.—100
1st cons g 4s 1948
...J-J
Con 8 4s 1955.:
J-J
Brooklyn City RR
Continental GU
117% 119
International Silver
100
Preferred
100
Amer Power A Lt com.. 100
92
100
95
166
99
'31A-0
A-O
61
300
48%
Am Lt A Trac com
103
90
185
190
»59
72
Eureka Pipe Line Co...100 *345
Galena-Signal Oil com.. 100
174
103
3
A-O / 49%
♦47%
Preferred
260
Brooklyn
v
Atian Ave RR con 6a
.
5
;_100
100 280
Buckeye Pipe Line Co...50 *165
Cheeebrough Mfg Cone. 100 650
Colonial OU
——100 120
Atlantic Refining
106
104
Salt
let g 5s 1951—
♦74
14
220
100
A-0 /
International
Borne-Serymaer Co
72
110
115% 116%
.100
Preferred
22
675
Per
Oil.....£1
Anglo-American
65
100
9
105
.....100
share
♦21
663
Standard Oil Stocks
82%
m mm.
50
50
Am Gas A Elec com
80
6s.'28--M-S / 76
28 A 29th Sts 6s '96 ctfs
,
m
7
100
com
International Nickel.—100
20
■
Crosstown stock..
95
100
Internat Banking Co
91
90%
82%
.100
Preferred
102
4a 1951
.J-D
J-J 100
West Penn TrAWatPow 100
10
100
Preferred
100
104
1st mtge 6s 1922
M-N 100
3
CenPkNAERRstock.100
1
125
Electric, Gas & Power Cos
Christopher A 10th St stklOO
116
New York City
Dry Dock E B A Batt—
Cent Un Gas 5s 1927
J-J
1st gold 6s 1932
J-D
9912 10112
e Kings Co El L A P Co. 100
33
Scrip 6s 1914._4.-_—F-A / 28
New Amsterdam Gas—
310
Eighth Avenue stock
100 280
1st consol 58 1948
J-J
100%
Scrip 6s 1914
F-A / 99
N Y A E R Gas 1st 6s *44 J-J
42d A Gr St Ey stock...100
220 240
Consol 6s 1945
J-J
42d St M A St N Ave—.100
eNY Mutual Gas L
100
1st 6s 1910
M-S/__
N Y A Q El L A Pow Co. 100
180
Ninth Avenue stock
100 150
Preferred
100
8
Second Avenue stock... 100
1
N Y A Richmond Gas... 100
30
COnaol 6s 1948 ctls_-F-A f 26
North'n Un 1st 6s 1927-M-N
112
•Sixth Avenue stock
—100 103
Standard G L 1st 5a '30 M-N
Boa Boulev 6s 1945
J-J
89*2 100
Other Cities.
98
BoFer 1st 6s 1919
.A-O
90
1st 6s 1924
Cant
Interoontin Rub
79
47
43
120
100
Preferred
c
95
94
78
111 C stk tr ctfs Ser A
36%
100
J-J
100
com...
4%
334
Val Products. .100
1st g 5s 1961
Ingeraoll-Rand
e
11
10%
—.100
—
Preferred
70
100
Preferred
United Rys of St L-r-
B*y A 7th Are stk
100
2d mtge 6a 1914
J-J
Broadway Surface RR—
Bleeck St A Ful Fy
•
81
100%
100
__
77%
79
preferred
2d preferred
5
5
69
100
100
preferred...—.100
United Lt A Rys com
Ask
Ask
Bid
Railways—(Con )
97
2
•
55
• 1st
98
95
100
2d
Bid
„
York City
35
~9Q"
100
lflt preferred
New
82
100
100
Preferred
64
1Xe
♦1%
Hoboken Land A Improve't
1st 5s Nov 1930.....M-N
'Street
Street Railways
13
com.—100
Havana Tobacco Co
28
87
~28
t
125
.100
1st
2d preferred
"25"
80
135
.100
preferred
4
marked
20
1st preferred
130
128
80
.100
2d
118
'"l%
♦1%
100
25
.100
Colo A South com
4
4
All
.100
1534
15%
100
_
/
87
Preferred
Hale
Chic St P M A Om— .100
.100
• Preferred
4
•
84
100
20
10%
1758
;
37%
Empire Steel A Iron com 100
Preferred
100
Railroad
.100
67
80
10
95
97% Goldfleld Consol M
1915.J-J
100
100% k Hackensack Water Co—
Westingh'se El A M 6s 1915
Ref g 4s '52 op 1912—J-J
Stk E x list
5% notes Oct'17—See N Y
Chla A Alton com
94
33
West Maryland 5s
$143,100
61,493
33,416
$251,400
51,160
62,884
Ry 5s 1916.. F-A
60
58
97% 101
124
9934 100%
9834 99%
Southern
80
100
Preferred
South Pac
Ry5s'16 M-S
Co 5s J'ne 16 1914
80
100
Preferred
e
75
97%
72
100
Emerson-Bran tingham.
75
M-S
6s Sept 1 1914 opt
72
Davis-Daly Copper Co
10
duPont(EI) de Nem Pow 100
99** 100
'13.J-D
87
87
37
Crucible Steel com
c
120
133
32
> 93.;
78
.75
Preferred
c
110
HO
129
129
28
28
70
Continental Can com
9534
5%
5%
5%
99%
99%
100%
53
92
33
100
85
100
A-O ( 60
Rubber Tire
Preferred
97
e
Total
Consol
98
1914
3%
50
50
89
89
.100
Preferred
99%
St L A S F
$8,400
22,100
48,400
24,100
15,100
25,000
5,899
14,408
4,275
16,099
12,280
8,532
2,637
6,606
5,429
5,372
8,860
4,512
$21,500
39,500
40,900
39,000
32,000
78,500
4,843
10,844
6,016
8.396
.
.......
113
107
*278
*2%
100
Brown Shoo com
96
Sales.
10,975
7,947
13,613
Saturday—
116
116
105
105
5
British Col Copper Co
97
96
Seaboard Air L
rMonday
84
130
290
100
Preferred
99i2
99% 100i8
95
6s Apr
Bond
"81
81
122
122
285
285
50
100
9958
Philadelphia.
Sales.
60
96
1
1
50
Preferred)
99%
4Hs Jan 1914-1925—JJ
b 5.25
4HS Jan 1914-1927—-JJ
9958
N Y Cent 4Hs 1914
M-S
Unlisted
15
—-
Preferred
1915.M-N
Missouri Pacific 6s 1914. J-D
• NYC Lines Eq 5s 1913-22
4ias 1915.
Listed
5
6
Bliss (E W) Co com
Gs 1914..F-A
Minn A St L g
N Y N H A Hartf 53
Oct. 10 1913.
99
1%
100
Bond A Mtge Guar
6 5.25
Wtek ending
98
96
Barney A Smith Car com
92
Mo Kan A Tex 6s
EXCHANGES.
Boston.
45
96
96
100
Amer Writing Paper
75
87
1939
Borden's Cond Milk com.100
Michigan Central 4%s_
AND PHILADELPHIA
TRANSACTIONS AT THE BOSTON
DAILY
68
Amer
985* 99%
1914—J-D
95% 96% Casualty Co of America. 100
ChicElevRys 5s 1914...J-J
100
100
100% Celluloid Co—
Erie 6s April 8 1914—A-08
99%
9934 City Investing Co...
100
Coll 5s Oct 1 1914...A-O
Preferred
100
98
Coil 5s April 1 1915—A-O
list. e Claflin (H B) Co com__100
Stk Ex
Qen'l Motors 6a '15—See NY
cist preferred...
9934
100
99%
111 Cent 4^s
1914
J-J
c 2d preferred..
100
97%
9734
Int A Gt Nor 5s 1914..F-A
9934 Cluett,PeabodyA Co com 100
9938
Inter Harvester 6s '15.F-A
Preferred
100
K C Ry & Lt 6s 1912—M-S / 88
99% Consol Car Heating
100
995s
Lake Sh A Mich So 4%s_'14
543,459,500
$394,913,520
$11,321,500
$8,076,000
bonds
Total
'
7,587,506
65
42
100
Deb g 6s
M-N
100
Preferred
82
Ches A Ohio 4 ^s
$633,100
Bonds.
5
Typefounders com.100
60
118
120
71
185
5
175
175
*4
*4
..60
pref
42
75
1915—M -S
1914...J-J
Bklyn Rap Tr 5s 1918—J-J
101,446,579
$9,163,802,475
67,786,180
$6,083,186,200
$139,600
Thread
American
40
Copper 6s
Balto A Ohio 5s
•*.
'
'
Americau Surety..
Ask
100%
68
68
Deb 4s 1923
114
Amal
1912.
1913..
..
Steel
Am
Short-Term Notes
$458,000
3,091,699
1,828.876
$161,509,150 $276,243,250
$28,500
*2,700
Stocks—No. sharesPar
1912.
1913.
Exchange.
5,000
10,000
99
99
72
Mackay Cos com
e Preferred
Jan. 1 to Oct. 10.
10.
Week ending Oct.
Sales at
$500
115,000
63,000
$7,587,500
1,828,875 $161,509,150
Total
$145,000
$626,000
1,872,500
1,269,000
1,346,000
1,198,000
1,276,000
$14,022,000
32,149,550
15,602,550
33,525,100
38.482,300
27,727,650
157.484
366,677
175,652
Saturday
Value.
Par
Bia
Bia
Fdy 6s 1035.A-O
.....F-A
110
60
Gold A Stock
e
Railroad,
St ocks.
\
100
100
Teleg—.100
100
100
e Northwestern Teleg
60
Pacific & Atlantic
25
e Pac Telep A Teleg pref.100
Southern A Atlantic
.-25
e
Indust and Miscell—(Con)
63
105
Tel.100
Empire & Bay State
Franklin
—
v
56
103
Araer.100
Un Tel (N Y)__.26
Central & South
e
Ask
B,d
Telcgrapli and Telephone
t Amer Teleg & Cable—100
Stock Exchanges
Volume of Business at
1013
CHRONICLE
THE
111913.]
70
135%
69
92
76
# Sale prioe. t New stock. « ExInfrequently dealt in; gftoord of sa%g;1
1014
BOSTON STOCK EXCHANGE—Stock Record.
BEARS
PRICES—NOT PER
CENTUM
PRICES
Sales
of the
Saturday
Monday
Tuesday
Oct. 4
Oct. 6
Oct. 7
*94
94
99
94
993s
♦200
♦9384
♦9834
998g
200
86
200
86
188
62%
187
*185
♦61%
265
♦250
265
*7
15
*7
15
66
*—_
*59
53
*162
*208
101
♦116%
*87%
*59
10
♦....
*162
164
*208
...
Oct'13
Oct'13
Last Sale 7
162
*162
42
164
*101
102U *101
12038 *119
*119,
89
*87
102
89
*101
Last Sale 103
15
13
13
67l2
87i2
68
67%
68
877a
87l4
8712
2%
2%,
2
2%
At
14
2
*14
6712
5
67
S7i2
6712
87%
2%, 2%,
212
Oct'13
14
...
25
101%
Sep'13
.
6734
88%
*
101
Last Sale
103
26
Sept'13
Last Sale 1181s Sep'13
89
*101
10
10312 10312
101% 101%
..
12038
*87
164
*162
Last Sale 200
..
S6
67
252
"At 2%
1,931
3,302
*16512 mi *165^2 nil *1651js HI
166
166
*16512
*166
*27
3012
*26
30%
30
*25l2
30i2 *25%
30
3012
*15814 15812 *15738 15734 *15738 157% 154% 155% *1535g 154
153% 153%
*84
8412
*83
*83J4 84
Last Sale 86
*83U
84
83l2
July'13
*130
*130
*130
*130
Last Sale 127
Sep'13
*72
73
72
72
72
72
*70
72
70%
70i4
30
125
*-.—
*
89
90
45
45
93
*92
*2%
17l2
3
*--.
Colony
Rutland, pref.
Union Pacific...
Do
1712
1097S 110%
115
115
126
1281s
81
*61
45
46i4
88
88
*44
45
44%
92
92
92
38
3
1714
110
1714
110
11434 1143,,
124% 126l4
S012
*43l2
92 ig
*212
*16l4
109
44l2
92l2
3
21,
*17
"801,
229
2%
255
2%
171,
109
17l2
109%
*15 v
*11
17%
109
10934
114% 115
123% 124%
122% 124
80%
*61
62
*61
62
*61
62
Last Sale 02
*96,
98
*96
100
Last Sale 95
*9
10
*9
10
*15
16
1534
16
*1534
*11
12
*11
12
266
266
*266
270
267
143
144
14214 143
101
*100
101
100
93
93
93
100
*99
93
93
144
100
*100
93
9278
*91
92
*91
216
*215
9278
216
*3%
30
31^
20
20
20
*65
148
148
*153
154
17
147
105
17
148"
17
105
10514
27
*24
27
*2«
1*4
2S
♦24
105*4
27l2
*1
1U
172l2 173i2
*1
171
171
11% ,*U
liV
267
142% 143
173
*20
30
*20
14314
*152
17
105
27
♦26
30
*20,
Last Sale 67
145"
14234 14234
15212 153
*16i2
1712
153.
17
105
105U
27
27
*1
105i8
"
2612
*26l2
H4
*16%
105'
27
27
27
;
174
50%
50i2
501,
27
27
27%
27
5658
55
5638
55%
56%
1Q5% 106
112
290
*280
233J
22*4
U4
23i8
*Hs
H4J
*H2
134
15s
♦llg
*1%
158
35
36
35iz
74U
75
75
19
19td
I884
478
.9Q
*34
3
3
34%
65i4
35U
34ig
66%
65
6558
.90
84
35
66%
♦435
3
35i2
67
5
2%
34
35
66
440
14
14
*14
4H4
413s
407a
40
68%
435
39
40
•
*2
*12is
*3i2
,2%
12%
30
31
4034
39l2
*2
17i2
*30
32
12
3%
72
31%'
73
35
35
733g
1834
1834
74%
1834
4%
434
5
1
.76
.80
.90
3
3U
*3%
32%
G334
3%
34%
435
424
425
I
12
17
12
73
30
30
*30
31
*16
17
16
19
19
4
4
4
M78
*1'4
812
♦312
414
4934
Sl2
4%
414
*334
4'8
*134
8%
50
17s
*84
.90
5%
53
3%
*H4
*8l2
9
*314
212
*2
8%
*744
'
*22%
*40
41
16
16
5I84
27
2
*11,
2
858
27
2
*1%
*134
% 8 At
26
2G34
112
♦34
•'
434
,90
US
*34
534
61,
51%
51®4
*51
79
78
80
80
21
20*4
2034
21
21
61
7912
20%
58
60
58
58
59
*19
19l4
34%
2
2
*187a
634
678
29%
2934
%
24%
2l2
278
*438
*.55
*40i2
47%
♦2%
9
*53%
1%
1%
♦43
25
32
.60
.60
19%
*33
34
*1%
2
*634
281,
2 884
*.20
.30
*.20
24l2
24i2
278
*24l4
2i2
*2%
*30
4ia
.60
.60
32
1%
1U
*41
*12
»
*
30
238
Alining....
182
Dec
107
Jan
95
Oct
93
E0
90
Feb
20
Jan
17% May
Jan
,
Dec
Mch
987g Feb
229
214% Dec
2% Mch
Aug
'
4% J'ne
Dec
105
Dec
Jan
Sep 27
107
Mch
148% Oct
164
Mch
158
2
184
Aug
Feb
13% Jan
98% Jan
May
5
3
189
May
Mch
9
Apr
x88% J'ly
Jan 11
Jan
300
103
2
5584 Feb
17% Apr
109% Sep
2/
28
.85
hill
32
4
46% Jan
27% Dec
58% Feb
107% Feb
Apr
3%
208%
57%
2934
80-%
110%
Sep
69
Jan
31
Jan
Jan
28i2 Feb 3
Jan
2
111
Jan 30
J'neli
102% J'ne 10
40
*15%,
*134
*8%
Apr
J'ne
Aug
Sep
Sep
Oct
8%
26
26
*1%
52
78%
20%
20
25%'
59
187g
.30
30%
4%
6
*.20
2%
30
.30
87g
53ig
1%
52
H4
*1%
42%
3.
paid,
*41
♦Is
I"
53
1'4
2%
42%
84
*43g
*1%
634
*.20
24
30
28
254
2
*41
42%
t Ei-atmtt <uy.
%
ft
10
25
Aug
4
J'nelO
18
405
Jan
9% J'nelO
3
Sep 5
l-5i8Jan
2
Jan
2
.9
Feb
.
25% Feb
48% Dec
.
Apr
j'ne
Aug
Sep
Apr
Nov
Apr
Mch
Sep
Apr
Nov
Oct
615
15% Dec
47% Jan
53
Jan
4
Jan 27
Apr
J'ne
27%
50%
66%
7%
16%
16%
77%
11%
19% Feb
57% Feb
'72i, Jan
556
Jan
30% J'nelO
37% J'ne 10
2
Sep 10
25
0% Oct
12% Jan
u78 Sep
37
J'ne
30
Nov
120 Indiana
4
7'
40
10
25
25
Alining
290 Island Creek
Coal
pref...
105 Isle Royale Copper
395 Kerr
4
1
25
Lake..
*'2
Ewlgha.
'16
5 Keweenaw
Copper
85 Lake Copper Co
La
""90
Alason
3% J'ne
3% Oct
Valley Alines.
5
2
25
20 Miami
Copper
Michigan
i
20% J'nelO
5
J'ne 24
.95
25
40
Oct
Consolidated.
5
50 New Arcadian Copper 25
338 Nipissing Mines.....
5
13
J'nelO
200 Nevada
3,374 North Butte
35 North Lake.
.....
T.300
Old
Colony
337 Old Dominion Co..—
21-% J'nelO
.99
25
25
25
25
10
6
Apr 30
4134 J'ne 10
73% J'ly 12
25
-
May 17
% J'ne
3
■
67 Osceola
820 Pond Creek Coal
133 Quincy
9
„
.
<
15
J 'ne 10
2
65
2
634
28
34% Jan
2% Jan
3% J an
838 Jan
52
1%
85
91% Aug
37% Nov
3% Feb
10
2
2
Jan
Jan
Jan
1
J'ne 12
10
,15
Aug 12
.35
22
J'nelO
1
25
21
J'nelO
75
25
1
3
.59
May 15
Sep 20
50
34
J'nelO
00
5
45% J'ly
Trinity
'
Utah-Apex Mining
190 Utah
-
Consolidated
5
Copper Co..... 10
90 V ictoria
j..
..25
140 Winona
25
121 Wolverine..,
25
.
_
.
.
....
% Jan
100 W yandott
Es-dlv,
rteHW.
25
TVwSmZ
»
2
7
1% May 6
7% May 6
40
.90
J an
Jan
Dec
Jan
2
Dec
Jan
5-% Jan
22% Feb
2% Dec
1% Pec
258 Jan
Mch
16% Jan
43
Dec
1
Jan
2
9
Jan
Sep 23
17
Feb
Jan
18
40%Jan
2
24
Feb
e438 Feb
4
1
Dec
38
Jan
3
28
Jan
6
Jan
9
4
Dec
3% Jan 28
% Dec
2%Deo
Oct
29
Nov
95
J'ne
24% Sep
Apr
47g May
177g Aug
34% Nov
1% Apr
487g J'ly
47g Jan
67
,
51
Apr
9% Apr
4nn Mch
Jan
z50% Sep
47
Jan
52% Sep
1
Nov
9% J'ly
2
Jan
2
4% Jan
Jan
2
134 Dec
3% Dec
3
65
Dec
1% Jan
9
1
Dec
,
64
130% J'ne
34
J'nelO
win,
.
6
52% Jan
J'ne 12
Sep
Apr
Deo
Oct
Apr
-Jan
May
2
2
Oct 10
J'ne
243g
6%
9%
393g
834
e6%
13%
Jan
Jan
40
30% Sep
5% Apr
73
278 Sep 24
11% Jan
2
50
60
.4Q
\ 18% Apr
43% Jan
J'nelO
84 Sep 12
May
Apr
Apr
14% J'ne
9% Jan
Dec
2%
23%
ls8
50%
18%
72% Dec
.
At Aug 15
13% Jan
31
10
800 Tuolumne Copper
1,017 U S Smelt Ref & Alin.
204
Do
pref
3
Feb 19
25
Superior & Boston Cop
5
Jan
80
6% J'ly 10
10% Dec
Dec
46
21
8
15
22
10
5
49
4io Feb
May
3
22% Dec
44
J'ne 30
,
Jan
100
J'neli
Shannon
20% Jan
2
Apr
.80
2
Jan
Jan
15% J'nelO
....
84
J'ne
Jan
33
360 Utal)
2
41
6 534
56
55
45 Tamarack
28
40% Jan
28% Jan
25
515
284
Apr
4
107
10
25
10
...
300 South Utah M & 3
180 Superior
.30
23
2% Jan
9% AIch29
Ray Consol Copper—
Mary's Min Land.
250 Santa Fe Gold & Cop.
300
1,065 Shattuck-Arizona
24
11% Sep
Apr
201
-
2
Jan
177 St
19
Dec
19% Jan
% J'nelO
v8%8 J'nelO
15
*
Ojibway Mining.....
34
a
4
25
180 Mohawk
'
Oct
5% J'ne 10
60 Mayflower.......... 25
May
.70
4% Sep 24
3% Feb 4
26% Jan
5% Jan
10% Jan
5% Jan
15% Jan
26% Jan
4
9
Feb
7% Feb
16
33% Jan
5% J'ne 19
25
200 Mass Consol
V
40%
1534
1%
8%
26%
5%
25
25
Sajlle Copper.
J'nelO
2% Jan 14
1
Aug 14
5
'
1%
33
3
% Jan
17
Jan
3% J'ne 27
59
Jan
44% J'ne 12
79
J'ly 1 -87% Jan
1
Do
4
820
♦5134
Hedley Gold
Helvetia Copper
...
*%
395
25
2
Oct
6%
9%
534
61%
83%
Apr 28
"*8% "9"
2
56% J'neli
4% Sep 23
Jan
35
Jan
35
"""150
38%
47%
52%
1%
10
2
4% Dec
•-^ic J'ly
2778 .jan 10
%May 8
.45
38%
9
45
24% Feb
3
Oct
.60
47
*81,
52%
*1%
1% J'ly 14
18% J'nelO
8% May
50% J'ne
92% Oct
,
22
438
4734
23s
10
10
Feb
Feb
2
4%
47%
2%
7
Dec
Jan
.60
3878
5
Dec
60
78% Sep 16
35% Aug 29
5
39
J'ne
2
35
25
.60
.
J'nelO
J'ne 19
58%
-
28
2434
2%
62
Sep 30
78
19
2
May20
29% J'neli
25
11% Apr
J'ly
370
J'nelO
~
50%
34
28%
Apr
14
20
■
58
187g
28
24
2%
50
*77
34
6
25
5%
20
Dec
300
.15
Copper
185 Franklin
1
.1%
51
5
Jan
24% Oct
2% Jan
42i4 Jan
80% Sep 16
32% Feb 10
5% Sep 17
T634 J'ne 27
2% J'ne 6
Last Sale .85. Sept'13
5%
Jan
.05
Oct'13
40%
1534
1%
2
6
330
51
378
16
May 12
J'ne24
tcS34 J 'ne 10
5
470 CopperRange Con Co 100
2 Daly-West
20
1,835 East Butte Cop AIin_ 10
*2
41
1
275
25
2,120 Butte-Balaklava Cop
11,371 Butte & Sup Cop (Ltd)
1,788 Calumet & Arizona..
42 Calumet & Hecla
834
334
37g
*1%
7
214
9
•1S4
• Bid and aatod prices.
J'ne 24
84
105
155
Jan 13
Mch
9414 Mch
Nov
z00% J'ne
5
Aug
10% Aug
1034 Jan
272% Sep
8
Apr
Mch
30
378
238
778
778
2278
2234
2234
Last Sale 1%
Sept'13
48
4714
*21,
48
21.
*527g
9
.60
878
53%
84
6
41% J'nelO
2638 J'ne24
50
Feb
Mch
30
79% Nov
75
Aug
149
Nov
Granby Consolidated. 100
734
.65
47i2:
4212
22
28% Jan 15
28% Jan 20
2
Jan
4
Sep 25
%J'he
5
1S34
2%
3978
878
53 is
1%
*1?4
*'2
108
J'n«
Nov
May
86 Greene-Cananea
-.100
110 Hancock Consolidated 25
1834
*378
'*1%
•
784
*22%
3914
47V
4712
.70.70
26
147
5
50
1%
3%
*.60
/ 2%
*41
18
Sep 15
5%
24%
133%
123%
II334 Dec
114% Dec
137% Jan
Apr 30
1651? Jan
J'ne12
26
25
85
*2
.60
2%
9
•
41,
4778
,
101
Mch
Mch
975
*49%
Last Sale
•
4ls.
40
44
Jan 11
Jan 3
Feb 1
Jan 3
91% Jan 11
160
105
7234
*84
4
*33
7
395s
H2
134
7
63% Mch
Dec
Aug
14
220
50
' Dec
3
93% Jan 22
95% Alch24
Sep 4
•3%Feb 8
J'ne IS
Sm.
16%
Sept'13
*334
*1%
*8%
*58
*187g
40
54
69
19ig
34
40
9
Jan
32
.45
19
*76
2
411
,
5H2
81
20l2
29
27S
412
41
'
25
32
15
149% Sep 5
14% Apr 15
Amalgamated Copper 100
Bos&CorbCop&SilMg
33s
51
5%
7
*1%
2914
14
.90
.6
29
684
29
*30
5
*33
15s
14
27S
25
*30
19
35
lSg
6S4
*.20
.
19l8
34
54
12% Aug 22
19% Aug 25
Apr 28
J'ne 16
4,157 Arizona Commercial.
"
78
*34
2
8
5
.90
78
212
8%
2278
1%
4U2
16%
21 >"
*59
4
*n8
2714
64%
85
3%
1%
4
4
717g
4%
19
4
23
*83j
2634
*1%
*84
4«4
13g
1834
23,
858
51l2
*1%
*52
41g
1&12
2
3%
33%
Aigomah
826 Am Zinc Lead &
12%
338
\ %
*3%
*5034
*84%
85
1834
12.
Last Sale 30
*.40
5
*84
12%
3%
3%
32
19
4H2
*1578
*184
10,412
23g
*30
1634
I684
*30
*183i
1%
42
5
800
425
*2
72
19
4 At
13s
8i2
*312
2%
12%
3%
84
*734
65
73%
84
*2
3%
32%
62%
3%
12,,
85.
*434
88% Feb
103% Mch
25
410 Allouez
3334
73%
I8S4
4%
.
7212
334
73
*84
,
1%
-
39
'
27
Oct
Nov
25
....
39
84
8%
27
21
9
Gold".......... 10
39
301a
si2
1834
,434
%
5
12,419 Alaska
23
*2
32
9
7134
Ahmoek
39
*30
23
7334
1834
11
2
84
214
164
98
Jan 14
Apr
C37g Apr
10
....100
25
25
190 Adventure Con.
39
51
83s
Do
2
51
*2
Dec
_
Jan 23
3
..25
...100
pref...—
100
39
3912
212
52
1%
176% Sep
9378 Dec
89% Sep
837g Sep 23
Jan 10
Jan
7
17
100
210 Centennial-
*51
17
Jan
152
Jan 11
23-%
118%
117%
140%
J'llO 14
Jan 16
....
pref
636 Chino
51
9
Do
14
51
42
Jan
79
96
75
87
100
;
Torrington
3978
*4
*734
*22l2
*1%
*4H2
16%
100
100
Telephone...
39%
30%
*16%
812
33%
*420
*.40
*1%
41l2
187
Jan
Dec
80,
99% Jan
4% Jan
9
100 zl36
N E Cotton Yarn
Do
pref
N E
*13
4
*1634
jan
J'ne
150
81% Feb
100
Jan
100
5
86
*415
.40
9
Oct"
143
41
_
Mav27
59
209
14
4
8%
2318
142% Apr
rl74
162% Jan
90i, Jan
150
Feb 27
9234 J'ly 23
100
40
.40
n
pref
425
1
*734
23%
Do
14
17l4
4
J'ne
MassachusettsGasCfosl 00
39%
4
412
176% Feb 11
36
Mch25
57
J nel2
Morgenthaler Lino
100
Mexican Telephone.. 10
14
4
4%
Feb
Dec
128%
Feb 21
104
40%
*.45
*37g
130
May26
I4
1
9
83
126
„
J'nelO
40lg
4
*138
Jan
2At Augl2
95
14l2
4
*4
pref
41
♦45
♦1834-
7238 Dec
130
280
22%
*1%
33%
.90
3
32
17
*30
260
1%
35i2
75ig
*314
721
30%
*17
*14
2l2
12%
3l2
73%
430
14la
413^
397®
12
334
72
440
*2
.100
McElwain(WH)lst pf
209 I
♦1%
*1%
33%
72%
1834
47S
35
6%
l«l2
434
105
Do
463
pref
17,046 U 8 Steel Corp
105% 105%
290
*280
*280
290
23% \ 23 ■;
23l2
22%
23%
7512
*84
1
105U 105V
290
36
5
16
Feb
Jan
Apr
91% Jan
147% May
23% Jan
Mining
H
1%
*280
10534 106
19
2%
Dec
Dec
Feb
130
Sep 4
J'he23
122% Oct 10
16% Feb 28
74
May 8
Union Copper L & M 25
2,592 United Fruit
100
1,279 Un Shoe Mach Corp. 25
50%
27%
547g
'
125
19 38
79
J'ly
J'ly 15
110
„
30
173%
27
75l2
I
Mch 13
288% Jan 10
18634Jan 2
34
26%
Sept'13
173
50i2
;
110
6
2%J'neii
16% J'ne 9
55 Reece
Button-Hole^.
540 Swift & Co
'
5684
.
128
3179
Dec
5
10
105%
27
27ig
36
Dec
J'ne
6
26%
Last Sale 1%
173
173l2 173i2
5012
5058
41
a91
100
j
78 Pullman Co
56 5j
1®4
Jan
83
J'ne
""200
60%
*H4
J'ne
119
J'ne
152%
17
pref
Amer Ppeu Service.. 50
Do
pref
50
Amer Sugar Refin.__100
Do
pref
100
87
14234 142-%
27
2334
Jan
112
124
9
""""60
5t%i
Hz
170
Feb 10
10
737
30
271.'
571
6«%
10«% 1973J
290
Jan
272
Sep 20
257
Sept* 13
152f
Do
.
Do
40
6f%
1%
J'ne
57
88
.100
*100 .101
27
23
85
Amer Agricul Chem__100
91
93
27
290
50
Sep
12% Jan
Aug
165
May
107% Oct
260
J'ly
5
Boston Land
10
Elec llluin__.100
602 General Electric
100
27
.
50
70
80
126
139% J'ne 12
80% J'nelO
56 Edison
51
t
Mch
127
1--
Dec
Dec
50
Jan 13
Feb 8
50 East
267
5012
5784 5914
107% IO8I4
168
122
Apr
May
7
Jan 24
Feb 14
45
Jan
100% Jan
300
*
70
.
107
100
.
12
267
100
92S4
9134
*65
152l2 153
It
*
„
20
*2S%
27
*1
144l2
*65
148
14814
153*8 153%
*1712
IO6I4 106%
27
*26l2
Dec
Men
7% Mch
Aug 28
Do • pref__
Atl Gulf & WISSLllOO
9278
93
*91
92
9134
92
9134
92
92
217
*215
21512 21512 *215
217
*215% 216%
*3%
Last Sale 3
3l2
*3%
312
Sept'13
92
•214
*65
1712
12
*99
3l2
10
65
J'ne2l
Do
pref
...100
Amoskeag Manufacturing
457
Last Sale 9.
Oct'13
*15
*15%
17i2
.17%
267
*lll2
267
144% 145%
*318
73, Feb
218
Dec
260
25
Amer Telep & Teleg.100
Oct'13
10
12
290
162
158
...100
Jan
200
100
West End St
Do
pref
94
Feb 25
Oct
5
Dec
Nov
Dec
Jan
290
May 14
Sep
57%J'ne 6
42
112
202
__
97
7
100
100
American Woolen
Sept'13
98
*9
267
171
252
15,119
*96
145% 1455g
*20
679
Last Sale 17% June'13
80 ig
80i2
80%
80%
98
16
267
210
17%
11434 11434
110
11434 11434
1235g 12434
81
212
106
44%
92%
10
.
*9
pref
Vermont & Mass
27
88
62
*96
•
88
92
*212
81
8034
46i4
92
9234
*2%
3
17%
18
109% 110
114
11434
125lo 126%
8112
tT
....
90
114% Jan 30
Jan 27
111% Oct
104% Feb
222% Apr
134% Mch
Miscellaneous
44
*92%
.
...
Highest
10378 Feb
101% Nov
'211% Sep
205
Sep 29
101% J'ne20
J'ly
98% Sep 23
2:115 ' Aug
Do
pref
....100
82% J'ly 11
Maine Central
100
100
Apr 29
Mass Electric Cos
100
1234 J'nel4
67
J'ne28
?t°-xt Fef stamped .100
N Y N H & Hartford. 100
85% Sep 18
Do
Rights
1% J'ly 22
Northern N H
100
115
J'ne25
.
...
106% Jan
101% Feb
Jan
250
Chic June Ry & USY.100
Do
pref
Connecticut River
100
Eltchburg pref
100
Ga Ry & Elec
stmpd.100
Old
2
...
Lowest
215
xt
87%
2% 2 At
Last Sale 115 June'13
...
8
9
Apr 30
83% J'ne30
181
May 5
50
J'nel2
......
May'13
*4212
53
Previous
or
Year 1912
Hiohest
93:% Sep
9534 J'ly
Boston Suburban EI Cos.
Do
pref
'
Boston & Wore Elec Cos.
73
Do
pref.
42
Range
100share lots
190
Boston & Providence. 100
Last Sale 60
10
*208
64
Oct'13
53
*12
"
89%
2%
1S7
6212
Last Sale 265
.6734
86%
68
88%
*186
65
of
Railroads
^
Last Sale 712
66
*42%
162
86"
186
85%
63%
15
43
99U
84
basis
Lowest
,
30
*200
86
ilanoe Since Jan. 1
On
Atch Top & Santa Fe.100
23
Ho
pref
100
29 Boston & Albany
100
210 Boston Elevated
100
3 Boston & Lowell100
286 Boston & Maine
100
94V
*9884
201
186
260
66
*94
99V
200
63
*7
43
102
*101
15
*6734
EXCHANGE
Shares.
10
Oct.
94
*937g
*987g
99U
*250
*59
*87
102
94
62l2
15
♦
*118I4 120
*
9
103% 103% *10312 10412 *10312 10412 *10312 104%
*101
89
♦100
187
62
164
*208
101
*186
187
,..
*7"
10
*162
*103% 104%
86
53
*42i2
164
Oct.
200
86
*250265
'66
*
10
*42l2
200
*9334
86I4
62
63
*250
;i. *59
*99
200
86
♦185
63
94
99
200
86
86%
♦186
Oct. 8
STOCKS
BOSTOI, JTOCK
WeeK
Friday
.,
94%
*9858
Thursday
Wednesday
76
«H»u paC
Feb
20%
67%
67g
734
13%
Mch
Apr
17
Mch
Apr
Sep
Jan
OCT. 11
Price
Range or
Oct. 10
Last Sale
Week Ending Oct. 10.,
,
Ask L010
Bid
Am Agricul
Am Telep &
Convertible
A-O
1928
1928
Ohem 1st 5s
Tel coll tr 4s
1936
4s
,__1933
g__1919 T'J
Am 7A uc L & S deb Gs
1915 \1-n
Atch Top & S i e gen * C..1995 a-o
Adjustment g 4s..
July 1995 Nov
Stamped
July 1995 m-n
50-year conv 4s
.1955 J-D
20-year conv 4}^s
Am Writ Paper lsts r 5s
J-D
.1035 m-n
Boston & i.owell 4s__.
.1916 J-J
Boston & Maine 4 Hs
194 1 J-J
P.'ain Ae
1942 F-A
Bur & Mo Riv cons Ge
1913 J-J
Butte El & Pow 1st 5s_.
1851 J-D
Cedar Rap & Mo iiiv 1st 7s 1916 m-n
83
J'ne'13
83i4
Cent Vermt lstg 4s
May 1920 Q-F
1103 Oct '07
C B & Q Iowa Div 1st 53
1918 a-o 1013*
98
May'13
a-o
Iowa Div 1st 4s_
...1919
97%-III 100 J'ly '13
Denver Exten 4s
..1922 f-a
*-n
98% Mch '12
Nebraska Exten 4s
....1927
98% Dec '12
B & S W s f 4s
__.__1921 A- S
83
J'ly'13
Illinois Div 3Ks.___
..1949 J-J
99
99%
99% 99%
Chic Jet Ry & Stk Yds 5s__1915 J-J
A-O
84% Sep '13
84%
Coli trust refunding g 4s_194C
107
J'ne'13
Ch Milw & St P Dub D 6s..1920 J-J
1135* Feb '11
Ch M & St P Wis V div 6s__1920 J-J
91May'12
86
91
Ch & No Mich 1st gu 5s... 1931 m-n
94
91
J'ly '13
Chic & W Mich gen 5s
1921 J-D
97% Sep '11
Concord & Mont oons 4s
1920 J-D
"92" "95* 95 Mch'13
Copper Range 1st 5s_
1948 a-o
100% Aug'l:
Cudahy Pack (The) lstg 5 1924 m-n
92
J'ly'13
Current River 1st 5s
1926 a-o
"76"' I"*' 80% Sep '12
A-O
Det Gr Rap & W 1st 4s
1946
97
Aug'13
Dominion Coal 1st s f 5s_._1940 tf-n
95
Oct '12
Fitchburg 4s
...1927 M-S
122
Feb '13
Fremt Elk & Mo V 1st 6s
1933 a-o
122
M ch *12
Unstamped 1st 6s
..1933 a-o
4s_
-yr g
...
Old Colony
83
10
78
aa.
8
Oct.
7
Oct.
6
Oct.
Elec
Terre Haute
g
5s
90
101
99
112
110
110
110
*
111
110
110
110% 110%
*15
17
15
15
*66%
58%
57%
67%
•18"
lt%
*46%
47
*15
15%
15%
75
*56%
58%
18%
*17%
18%'
25%
"25% ~25~%
25%
39%
"§9"
*45%
25%
25%
39"
39""
39
50%
48%
4f%
49%
"48""
"47%
26%
25%
25%
345
97
90
93
101
101
"35
99% 102
Stocks see below)
Apr'09
111% Oct 12
110
88
73
-
—
106% 111%
60
"
'
*39"
39%
75
Do
Jan '11
70% Deo *104
.102% 103 J'ly '13
100
90
100*:%
100%
95%J'ly '13
J'ly '13
95%
95%
90
90
92
96%
93
95%
89
Aug'13
Apr '07
90
95%
....
94
98
95% Sep '13
93% Sep *13
100%
100%
97
J'ly '13
99%
99%
97% Feb '13
98% Nov'11
97
97
99%
99%
97%
97%
"97% io"o%
98%
98
Sale
98% 101%
93% Feb *12
Year
1
Do
25%
2,378
Highest
101
J'nelO
120
Jan 16
96
Jan
117
May
101
J'ne 12
101
Jan
116
Apr
100
14
J'nelO
120% Jan 31
23
Apr 4
pref tr ctfs. 100
Northern Central.-
50
100
Do
(1912)
Lowest
Highest
100
pref
Seaboard Air Line
10
*39"
39%
105
49%
49%
*11%
49%
4.693
'
-
.100
50
pref...
United Ry & Electric.
7-1%
12%
25%
35
-
«
-
74%
47
.
46%
34%
""664
34
74
74
74
12
*11%
23%
46%
*46
34
75
75
75
46
35
46.
*34
74
*74
12%
*12
12%
12
12
25
25
85
47%
*34
♦1?
•25
"47"
74
♦12%
47%
35
35
36
•36
*24%
25
24%
24%
85%
23%
*84%
23%
85%
12
34
■
445
74
213
12
115
.24
245
56% J'ly 28
J'ly 16
14% J'ne 11
41% J'ly 19
Jan
68
123
114
23
Jan
6
Feb
6
77
85%
77%
♦84%
77%
*77%
85%
77%
*84%
*76%
76%
76%
76%
19%
19%
19%
*19
19%
19%
19%
18%
19
1S%
34
34
34
34
•33%
34
33
33
*32%
33
*32%
55% 55%
9
Apr 2
Jan 30
21
*27% Apr
121
Dec
18
72% J'ly
130
Apr
Dec
27% May
59% J'ne
45% Mch
18% Jan
3
Feb
25% Nov
8% Jan
53% Jan
49% Sep 23
6
55%
40
40
40
40
22%
22%
22%
22%
22%
22%
6,277
21
21
20
5,784
4,381
1,033
3,057
22%
22%
22%
22
21
21%
82%
83
83
82%
*4% ', 4%
*4%
4%
48%
48%
47%
85
4%
4%
48%
48%
85% ,85%
85%
85
10
100
Amer ltys
pref..*
Cambria Iron
Harwood
Electric
50
10
21%
26% Sep
22
"48%
Fr Tac
100
80
$30 paid.
Pennsylvania Salt
50
Pennsylvania Steel
100
Pennsy recoipts
50
6% cumulative pref. 50
Phila German & Norris 50
Phila Traction
50
Railways General
10
Tonopah Belmont Dev
1
United Cos of N J
100
United Trac Pitts pref 50
Virginia Ry & Power..100
Preferred
100
Warwick Iron Sc Steel.
Washington-Va Ry
..100
Co
West Jersey & Sea Sh.
Westmoreland Coal
*
10
100
100
50
60
100
50
50
Lake Sup Corp
1935—J-J
inc 5s'24 O
'14.Q-J
GenM4Hsgl924_Q-F
36
*
105%
39%
42
Leh V C 1st 53 g 1933. J-J
Leh V ext 4s 1st 1948.J-D
Consol 6s 1923
J-D
"66""
1923—J-D
Annuity 6s
J-D
"40%
42%
2003..M-N
'35 J-D
1st series A 4s 1935.M-S
1st series B 5s 1935 M-S
"7% "7%
MarketStEl 1st 4s '55M-N
NatLH&P serB 5s '19 J-J
New Con Gas 5s 1948.J-D
N Y Ph & No 1st 4s'39 J-J
Income 4s 1939—M-N
10
10%
Pa & NY Can 5s *39. A-O
Penn Steel 1st 5s '17.M-N
People's Tr tr ctfs 4s_1943
P Co lst&coll tr5s'49M-S
Con & coll tr 5s *51 M-N
65% 57
Phil Elec gold tr ctfs. A-O
Trust ctfs 4s 1049._J-J
10% 11% P & E gen M 5s g '20.A-O
Gen M 4s g 1920—A-O
34
35
"81%
Ex-dividend.
48
Oct 10
51% Jan
80% J'ne 10
91% Feb
3
Ask
Bid
U $15 paid,
Read Trac 1st Cs '33—J-J
Stan'd Gas & El 6s'26 J-D
s
..M-N
f 5s 192G
Welsbach
s
f 5s 1930..J-D
W il-B G&E
con
5s '55. J-J
85% Sep 23
6% Jan 13
%
35% Sep
Sep
100
Dec
92% Jan
16% Sep
32% Dec
63
Apr
56% Feb
2434' Sep
29
98
8% Apr
53
4934 Feb
86% Jan
J-J
96% '98' Cousol Gas 5s 1939.-J-D
Gen 4*$s!954
A-O
Cons G E & P 4y2s '35 J-J
100
100% Consol Coal 5s 1950..J-D
Fair & CI Tr 1st 5s '38 A-O
Ga&Ala 1st con 5s '45 J-J
Ga Car&N 1st 5s g *29 J-J
72% Georgia P 1st 6s 1922—J-J
Ga So & Fla 1st 5s '45.J-J
71% 72% G-B-S Brew 3-4s '51.M-S
90% 91% Houston Oil div ctfs—F-A
Knoxv Trac 1st 5s '28 A-O
90%
91
Inactive Stocks
70
72
Atlan Coast L (Conn) .100
248
MaconRy&Lt 1st 5s'53J-J
Md Elec Ry 1st 5s *31 A-O
Memphis St 1st 5s '45.J-J
Monon V Trac 5s '42 J-D
Mt Ver Cot Duck 1st 5s__
.100
170
NptN & O P 1st
100
98
100
100
100
30
Nor & Port
91
Norf Ry & L 5s
80
100
3
North Cent 4J4s 1925
Series A 5s 1926
100S4 101
58
58%
BALTIMORE
Co.
Canton
99
Consolidation
ioe""
Coal.
Georgia Sou & Fla
1st preferred
2d
ilis4
102
93
1937.JrD
93%
98%
100
104%
preferred
G-B-S
„
Brewing
Prices are all ltand
interest"
92%
Bait City 3 Hs
1930...J-J
4s
94
1954-1955...Various
5s
103
1916
M-N
89
95
101% 102
Anacostia & Potom 5s A-O
Atl C'st
conv
9812
93
deb 4s_M-N
Atl Coast
100
86%
101% 102
81%
"98"
82
99%
102%
No Bait Div 5s 1942J-D
99
L(Ct)ctfs 5s J-D
5-20-yr 4s 1925
J-J
S P & C 1st 4 Hs '53 F-A
Bait Trac 1st 5s '2 9. M-N
110
103%
B
Cent Ry cons 5s '32.M-N
Ext & Imp 5s 1932 M-S
Ohas City Ry 1st 5s'2 J J-J
Chas Ry G & El 5s '99MS
City & Sub 1st 5s 1922 J-D
CityfcSub (Was) 1st 5s *48
i $1714 paid.
J-J
1926—.J-J
Pitt Un Trac 5s 1997..J-J
Poto Val 1st 5s 1941...J-J
Sav Fla & West 5s '34 A-O
Seab Air L 4s 1950—A-O
Seab & Roan 5s 1926..J-J
South Bound 1st 5s—A-O
U El L&P 1st 4 ^s*29M-N
Un Ry & El 1st 4a *49 M-S
Income 4s 1949—J-D
Funding 5s 1936i._J-D
Conv notes 5s 1914 J-J
Va Mid 3d ser 6s '16.M-S
4th ser 3-4-5s 1921 M-S
5th series 5s 1926
M-S
Series B 5s
Bonds
.
'49..M-N
A-O
91
95%
103
103
103% Va (State) 3s new '32.J-J
Fund debt 2-3s 1991 J-J
West IT C con Gs 1914.J-J
103"
"99% 100% Wil & Weld 5s 1935...j-J
93
-
87%
87
85
88
■
99%
99%
103
-»
•
~
-
•m
-
102
107%
103
**
m
M
M
M
43
42
81%
-
W
100% 102
~96 ~ *97~%95
....
67%
66%
97
5s'38M-N
'29..M-S
Tr 1st 5s'36 J-D
Ask
Bid
N & A Terml 5s
York Rys 1st 5s
96%
Sep
92% Aug
BALTIMORE
Col & Grnv 1st 6s 1916
Sep
89% Apr
Dec
Coal & C Ry 1st 5s '19A-G
Coal & I Ry 1st 5s'20 F-A
114
Sep
13
Feb
4J% Dec
II16% Jan
22% May
74% Jan
9
50
United Rys Invlst coll tr
Leh V Tran con 4s
c
50
105
Consol 4^s
Gen cons 4s
"si
Bid and asked; no sales on this day.
1943—F-A
Keystone Tel 5s
100
Preferred
Phila Co (Pitts) 5% prf
4s
Lehigh Nav
50
_
Interstate
Union Traction
United Gas Impt
U Trac Ind gen 5s '19.J-J
Un Rys tr ctfs 4s '49 _J-J
83%
3
J'ly 22
Stand Stl Wks lst5s'28 J-J
101
28% Jan
4
Roch Ry & L cod 5s '54J-J
Spanish-Am Ir Gs '27..J-J
1033g
8
75% J'nelO
P W & B Col tr 4s '21 __J-J
85%
Jan
24% Feb 14
12% J'lyo
58% Aug
39% Dec
'*73% Dec
Apr
60
9
20
Imp M 4s 1047.A-O
Terminal 5s g 1941 Q-F
"84%
3
50
Ex
1946*.A-O
Peoples Tr tr ctfs.
& li 1st 5s '40.J-J
Asphalt;5s 1916.M-S
Harw Elec 1st Gs 1942 M-S
"55"
J'nelO
6
37% Mch 28
50
Sep
55% Oct
87% Mch
78% Feb
8% Jan
23
Jan
23% Mch 28
61% JaL
Jan
27
9
3
50
1
Ph & Read 2d 5s 1933 A-O
S'tl 6s 1998.Q-F
1919 J-J
Con Trac of N J 1st 5s '33
Del Co Rys tr ctfs 4s'49J-J
Elec &
J'nelO
37
9
Reading.:
Tonopah Mining
philadelphia
Prices are all "and
Gen
16%
31% Jan
93% Jan
84
J an
15% Jan
9
13% May 10
4
7
47
1
42% Feb 4
78
May 13
J 'ne
J'ne
40% Oct
41% Mcll
11% J'ly
52% Jan
18Apr
59% Apr
9
Phila R T vot tr ctfs..
Bid
Edison Elec 5s
50
Preferred,
York
Railway
Preferred
891
Bethleh
"SO
Warrants
Wilkes Gas Sc % lee
85
Ch Ok & G gen 5s
50
Nat Gas Eloc Lt & P..100
Preferred
47%
84%
Hs'33F-A
'07. F-A
Am Rys 5s 1917
A-O
Atl C Gas 1st s f 5s '60 J-J
Berg&EBrew lst6s'21 J-J
50
Schuylkill
Welsbach
46
84%
Am Gas & Elec 5s
Minohill & Schuyi H__
Pennsylvania.
4%
47%.
Alt & L V Elec 4
50
......
Kentucky Securities—100
Keystone Telep, pref. 50
Keystone Watch Case 100
Lit Brothers
£
10
North
4%
84%
101%
101
.100
100
..100
Insurance Co of N A__
Inter Sm Pow & Chem
Little
4%
46%
.
philadelphia
1%
50
Huntington & B T-'
Preferred
4%
4%
,
Ask
Coke—100
Consol Trac of N J
82
Bonds
Inactive Stocks
Milling
American
Preferred
20%
81%
85
85,
Bid
philadelphia.
Central Coal
48
85
20%
48
4%
48
'
20%
81%82%
81%82 %
S2%82%
328
53% Jan
12% Jan
54% Jan
J'nelO
20% J'ne 10
2,385
56%
21%
9% J'nelO
2
x49% Feb 24
22
125
65
33
40%
22%
J'nelO
70% J'ne 10
4
29% J'ne 12
53% J'ne 4
40%
22%
33
Battery. 100
Asphalt J.......100
pref
..100
Keystone Telephone. 50
Lake Superior Corp
100
Do
70% J'ne 10
55%
23
Gen
50
50
50
50
50
41
22%
Elec Storage
11% J'ly 29
42% J'nelO
50
56%
22%
JnelO
41
Lehigh Valley..
Lehigh Valley Transit
Do
pref
Pennsylvania RR
Philadel Co (Pittsb)*.
Philadelphia EIect$_.
41 "
42
41
J'ne 11
Leh C & Nav tr ctfs..
485
19%
56
VU
56% 56
37
81
56
41%
Cambria Steel
2
50
50
__
76
85%
85
78
41%
50
Railways
26
'85%
*76%
85%
•77%
•19&8
56%567/,
Cement.
American
Electric Co of America^ 10
12
•
"48"
103%
90
100% Mch'13
85
90
97
,
Lowest
.
Houston Oil tr ctfs
5
39"
49%
49%
48%
50%
-88
88
Aug'13
103
J
F
M
J
16
109% 109%
Philadelphia
40
125"%
113%
Range for Previous
Con Gas El L & Pow. 100
American
*39"
75
67
5
75
and Inactive
Bonds
(For
41
*17%
115" '11s"
96
99%
93%
"~6
101
109
Range since Jan.
Shares
10
110'
109% 109%
110%
110% *109
*15
♦14%
*
57%
58
*56%
*113
115%
*17%
26%
26%
17
80
101%
~94 " *97 ~
5
92% Mch 12
113% Oct '13
ACTIVE STOCKS
Week.
Friday
Oct.
*109
«
78
95
Apr 13
102'
Sale 101%
102
76%
901*
90%
90
90
Sale
Baltimore
110.
*
110% 111
110% 111
92
>76%
Exchanges—Stock Record, Daily, Weekly, Yearly
Sales
0
92
10778 113
♦ No price Friday; latest bid and asked. * 1 Flat prices.
0/the
Thursday
Wednesday
Seattle Elec 1st g 5s
Shannon-Ariz 1st 6s g
for all Boston bonds.
In addition to the purchase price
PRICES—NOT PER CENTUM PRICES
Monday
Oct. 4
85%
99%
96%
95%
Sep *13
94%
Aug'13
94%
....
97
1932 F
1919 J
98% 100%
79% 86%
107
110%
94%
J'ne'08
96
94%
1923 J
5s__1952
1930
1919
1929
93%
3
13
115
1922 F
Savannah Elec 1st cons
Feb
92
1924 F
gold 4s__.
99%
15
9478
94%
..
96%
Torrington lsrt g 5s__
..1918MUnion Pac RR & Id gr g 4s_1947 J ■
20-year conv 4s
1927 J 92% 98
United Fruit gen 3 f 4>£s
1923 J■
Debenture 4Hs
..1925 J95" "95"
U S Steel Co 10-60-yr 5s Apr 1963 MWest End Street Ry 4s
1915 F92" 92
Gold 4Hs
...1914 M
Gold debenture 4s
1016 HI97" 99%
Gold 4s
____.1917 FWestern Teleph & Tel 5s
1932 J122"" 122"
Wlsconsin Cent 1st gen 4s._194WJ-
Philadelphia and Baltimore Stock
Saturday
100
I
High
Low
10778Sep '13
76% Jan '13
90% Feb '13
80
Sep *13
Sep '13
97% 97
1948 J
;
PugetSdKlec Ry 1st 5s
Repub Valley 1st s f 6s
....
JSHARS
6s__,
Oreg Sh Line 1st g 6s
Pond Creek Coal 1st 6s
"95 " ~98_
100
-T.-
NOTE.—Buyer pays acerued Interest
Conv deb
89*4
No
117" Apr"'08
....
82
Since
Jan.
0505
99% Apr '13
94%
94%
91
108'
1
10-year conv 5s
.,
*1917
At! Gui& W I SS Lines 5S.1059 J-J
Bos& Corb 1st conv sf 6s..1923 M-N
Boston Elev 3
4s
Registered
102%106
i§
High
Ask Low
98% 99%
9434 Sals
94% Sale
coll tr 4s__1921 J
Gt Nor C B & O
8934
86
6s.1915 A
General Motors 1st 5-yr
102
99
"56
877*
8838
103%Mch'13
Last Sale
Bid
1921 Q
Houston Elec 1st s f gen 5s_1925 F
98
104%
~99~ " Sale" 98
102.% "55
la Falls & Sioux C 1st 7s...1917 A
8978J'ne 12
Kan .O Clin Sc Spr 1st 5s...1925 A
104' ".104
104
Sep '13
Kan C Ft Scott & Mem 6s_.1928 M
93
98
94%
9414
KCFtS&M Ry ref 4s gu_1936 A
87% Nov'12
1934 M
"84% ~85% Kan C M & B gen 4s
84% Aug *13
Assented income 5s
*1034 M
97
97
97
J'ly '13
Kan C & M Ity & Br 1st 5s.l929 A
110% Mch'11
Marq Hough & Ont 1st Gs
1925 A
12
"59" " "67
65
Sale
64%
65
Mass Gas 4Hs—
1929 J
50
85
60
May'13
Deben 4 Hs_.
..Dec 1931 J
95% Feb '12
Mich Telephone 1st 5s.--_.1917 J
100% Mch'09
New Eng Cotton Yarn 5s__1929 F
1041? Oct '08
New Eng Teleph 5s
1915 A
95 " Feb '12
5s
1932 A
101
102
101
J'ne'13
101
New River (The) conv 5s..1934 J
104"% 104"% NYNH4H con deb 3^3-1956 J
104% j7ne"l3
m-S
Week's
Range or
Oct. 10
HJs
High
Low
No
High
9934 Apr '13
"88 "Sale
J-J
I.
Range
Price
BOSTON STOCK EXCHANGE
Week Ending Oct. 10.
Since
Jan.
.Friday
BONDS
Range
Week's
Friday
BONDS
[boston stock exchange
1015
Record
Boston Bond
1913.]
93
92
.
-
88%
98%
-
97
99
104%
mm
,
m
mm
m-
mm
104%
mm
mm
io'o"
103%
mmmrn
83
mmmm
102
mmmm
101%
90
82%
mmmrn
mmmm
mmmm
63%
63%
86
104%
100
-
•••
mmmm
101
102
100
90%
■mmmrn.
l"00" "
104%
1016
THE
awd flatlroacl
imiestnxeul
;«*»ibw)W<UX i+ti.w'i^WW,'
■ »»i
CHRONICLE
GROSS
xcvii.
Intelligence.
V.
RAILROAD
[Vol.
EARNINGS. /
:'
#
The following table shows the
gross earnings of every STEAM railroad from which
regular weekly or monthly returns
be obtained.
The first two columns of figures give the gross
earnings for the latest week or month, and the last two
©olums the earnings for the
period from July 1 to and including the latest week or month. -We add a
supplementary
statement to show the fiscal year totals of those roads whose fiscal
year does not begin with
July, but covers some other
can
period.
The returns of the electric railways
Latest Gross Earnings.
roads.
Week
Current
•Year.
or
Month.
Ala N O & Tex PaoNO & Nor East
Ala & Vicksburg
are
brought together separately
on
subsequent
a
July 1 to Latest Date.
Previous
'Year.
Current
Previous
Year.
Year.
ROADS.
Week or
Month.
Current
Year.
$
58,000
850,475
747,006
2d wk Sept
4,000
32,000
363,768
359,310
Vicks Shrev & Pa 2d wk
Sept
30,000
25.000
357,404
329,526
Ann Arbor
4th wkSept
61,822
57,010
613,137
586,683
Atch Top & 8 Fe
August
9,731,956 9,630,813 18,874,942 18,590,783
Atlanta Birm & Atl August
254,853
516.820
504.652
257,351
Atlantic Coast Line August
2.331,716 2,437,795 4,788,868 4,905.552
Chariest & W Car August
155,237
129,088
301,697
257,203
Lou Hend & St L August
120,026
108,695
228,746
196,128
a Baltimore & Ohio.
August
9,443,154 8,878,271 18,281,964 16,931,156
B&OChTer RR August
154,284
170,924
309.347
319,933
Bangor & Aroostook August
228,439
233,888
442,914
468,832
Bessemer & Lake E August
1,036,438 1,043,208 2,128,610 2,071,636
Birmingham South. August
111,833
93,476
230,623
178,768
Boston & Maine
August
4.580,644 4,637,784 8,857,078 8,845,669
Buff Roch & Pitts.
4th wkSept
368,293
294,661 3,265,324 2,922,858
Buffalo & Susq
August
201,743
222.426
421,678
401,104
Canadian Northern 4th wkSept
726,300
526,600 5,748,500 5,247,000
Canadian Pacific
4th wkSept 4,160,000
3,457,000 35,314,521 35.626,114
Central of Georgia- August
1,002,793 1,088,318 2,008,082 2,216,943
Cent of New Jersey August
2,856,867 3,097,388 5,660,947
5,888,294
Cent New Eng
August
312,940
323,750
589,644
627,256
Central Vermont.
August
391,601
391,564
761,532
751,824
Ches & Ohio Lines. 4th
988,308
wkSept
889,110 9,181,968 8.948,703
Chicago & Alton... 4th wkSept
473,912
479,104 4,215,917 4,021,982
Chic Burl & Quincy August
9,059,698 8,487,985 16,814,528 15,783,908
p Chic Gt Western. 4th wkSept
325,991
314,823 3,862,183 3,569,735
Chic Ind & Louisv. 4th
wkSept
190,823
187,906
1,860,609 1,810,739
Chic Milw & St P.I August
7,870,612 8,111,277 15,611,130 15,504,824
Chic Mil & PugSj
rChic & North West August
8,409,803 8,140,192 15,893,582 14,890,109
»Chic St Paul M&O. August
1,523,734 1,481,330
2,959,118
2,774,327
Chic Terre H & S E August
175,923
164,961
325,759
300,039
Cin Ham & Dayton August
969,432
971,818
1,852,025
1,847,878
Colorado Midland. August
171,210
184.427
298,727
317,519
b Colorado & South 4th
wkSept
424,849
407,611
3,911,514 3,568,087
Cornwall
August
17,058
22,377
34,695
42,114
Cornwall &Lebanon August
33,067
40,322
64,577
78,571
Cuba
Railroad
July
324,187
334,393
324,187
334,393
Delaware & Hudson August
2,291,639 2,280,859 4,367,117 4,333,392
Del Lack & West.. August
3,636,234 3,492,749 7,185,827 6,827,205
Deny & Rio Grande 4th wkSept
703,000
777,200 6,614,915 6,699,598
Western Pacific.. 4th wkSept
218,400
185,800
1,865,060 1,653,259
Denver & Salt Lake 4th wkSept
39,124
35,774
425,226
372,691
Detroit Tol & Iront August
146,240
154,380
282,193
279,751
4th wkSept
34,677
26,928
334,205
320,941
ul & Iron Range.. August
1,212,159 1,060,321
2,375,182 2,129,394
Dul So Sh & Atl... 4th
wkSept
108,280
97,565
989,178
935,936
Elgin Joliet # East- August
1,139,245 1,116,639 2,240,518 2,241,641
El Paso & Sou West August
•668,953
643,600
1,370,924 1,310,590
Erie
August
5,651,031 5,741,689 11,189,254 11,123,247
Fonda Johns & Glov August
102,785
101,568
201,673
200,356
Florida East Coast. August
279,689
265,622
566,842
525,778
Georgia Railroad-_ August
251,009
260,200
480,067
510,133
Grand Trunk Pac.
3d wk Sept
207,580
1,452,491
Grand Trunk Syst. 4th
wkSept 1,492,505 1,464,723 5,066,957 14,367,565
Grand Trk West. 3d wk Sept
150,457
149,197
1,689,062 1,601,377
Det Gr Hay & M 3d wk Sept
54,786
52,976
577,619
549,245
Canada Atlantic. 3d wk Sept
46,680
54,388
593,740
555,047
Great North System September
8,563,230 7,557,936 22,995,873 20,902,933
Gulf & Ship Island- August
185,283
172,226
366,777
335,707
Blocking Valley
August
810,673
764,455 1,514.688 1.454.491
Illinois Central
September 5,767,603 5,556,680 16,822,632 16
2 6,240,213
Internat & Grt Nor 4th wkSept
356,000
453,000 2,689,375 2,945,118
0 Interoceanic Mex 4th
wkSept
240,160
219,513
2,199,098 2,215,313
Kanawha & Mich.. August
312,337
320,750
616,053
617,331
Kansas City Sou
August
915,550
935,750
1,729,433 1,769,548
Lehigh Valley
August
3,672,296 3,999,841
7,119.997 7,533,548
Louisiana & Arkan. August
152,888
144,974
296,430
291,076
s Louisv & Nashv.
4 th wkSept 1,632,620 1,451,693
15,236,041 14,326,946
Macon & Birm'ham August
11,970
12,415
22,200
27,154
Maine Central..
August
1,058,080 1,074,870 2,056,862 2,035,999
Maryland & Penna. August
49,011
47,464
93,191
85,311
a Mexican
Railways 3d wk Sept
167,900
163,100 2,293,900 1,963,300
Mineral Range
4th wkSept
7,357
21,268
106,562
208,529
Minn & St Louis..a 4th
wkSept
224,358
236,693 2.447.462 2,487.936
Iowa Central
i
.k
,
N YOnt& West...
N Y Susq & West.
t6,000
August
August
_
■
Norfolk &
,
Western. August
Northern Pacific
Northwestern Pac
Pacific Coast Co..
...
Pennsylvania RR
Bait Ches & Atl
_
_
CumberlandVall
Long Island.
Maryl'd Del & Va
N Y Phila & Norf
'
"
Northern Central
Phila Bait & Wash
Jersey & Seash
W
_
Pennsylvania Co
Grand Rap & Ind
—
._
Pitts CC&StL.
Vandalia
August
August
August
August
August
August
August
August
August
August
August
August
August
August
August
August
_
...
...
Pere
Year.
•
S
S'
1,962,453
2,001,665
627,486
529,205
595,498
511,867
7,779,205 7,455,672
12,086,259 11,785,904
842,444
808,304
1,439,236
1.494.630
32,434,151 30,463,796
105,870
96,197
584,497
554.842
2,902.787 2,581,779
6,013,758 6,035,548
418,907
420,215
710,645
791,872
16496371 15797061
60,292
55,986
297.295
293,523
1,395,520 1,263,915
22,620
23,167
41,263
41,527
356,723
342,925
769,285
697,836
1,171,513 1,117,796 2,283,228 2,180,707
1,884,005 1,882,952 3.670.015 3,702,872
1,058,766 1,025,618
1.894,452
1,869,632
6,293,524 6,227,837 12,507,159 12,222,657
559,471
551,217
1,057,065 1,020,115
3.9S9.567 3,917,983 7,805,053 7,525,994
1,032,132
979,456 2.013.016 1,860,820
;
24175970 23447824 47.558,678 45,421,489
12095766 11886826 23,815,547 23,020,597
36271736 35334650 71,374,225 68,442,086
August
All East <fc
West August
Marquette
August
Reading Co—Phila & Reading- August
Coal & Iron Co..
August
Total both cos
August
Rich Fred & Potom
August
Rio Grande June
July
Rio Grande South.
4th wkSept
Rock Island Lines.
August
Rutland
August
St Jos & Grand Isl.
August
...
Previous
Year.
3,933,478 3,785,822
Total Lines—
East Pitts & E_.
August
West Pitts & E__
...
Current
Year.
974,550 1,023,883
335,468
303,868
273,233
258,169
Norfolk Southern.. August
:
•
July 1 to Latest Date.
Previous
$
■
2d wk Sept
:
page.
Latest Gross Earnings.
1,472,869 1.572,373
2,838,792
2,977,903
4,234,747
2,140,258
6,375,005
217,032
83,516
18,844
6.325,668
363,452
136,736
2,858,065
199,178
4,418,1S7
8,255,786 8,402,354
3,449,642 4,202,464 6,453,239
7,864,830 12,458,251 14,855.594
218,227
451,429
455.843
84,276
83,516
84,276
15,160
173,666
160,080
6,614,386 12,119,374 12,332,268
357,167
711,244
685,481
163,277
311,893
307,540
St L Iron Mt & So.
August
2,940,286 5,528,833 5.780.631
St L Rocky Mt & P
May
153,324
2,083,565 1,819,138
St Louis & San Fran
July
3,929,517 3,470,982 3,929.517 3,470,982
f Chic & East Ill- July
1,367,572 1,301,928
1,367,572 1,301,928
Total all lines
July
5,297,089 4,772,910 5,297,089 4,772.910
St Louis Southwest. 4th
wkSept
350,000
348,000 3,279,254 3.279.770
San Pod LA&SL.
August
870,817
824,277
1,736,343
1,664,053
Seaboard Air Line.
4th wkSept
499,014
471,192
5,428,598 5.258.771
Southern Pacific
12254090 12447187 24,015,101
August
24,209,578
Southern Railway.
4th wkSept 1,859,182
1,680,616 16,858,699 16,644,291
Mobile & Ohio
4th wkSept
343,960
312,868
3,156,280 2,925,383
Cin N O & Tex P 4th
wkSept
305,255
280,227 2,585,863 2,447,493
Ala Great South. 4th
wkSept
148,726
154,514
1,304,242
1,204,940
Georgia So & Fla 4th wkSept
57,767
56,419
592,383
583,900
Spok Portl & Seattle August
473,513
486,437
940,989
941,283
Tenn Ala & Georgia 3d wk
Sept
2,104
2,433
22,746
30,443
Tennessee Central. August
147,153
149,767
295,552
275,470
Texas"& Pacific
4th wkSept
492,095
521,331
4,324,327 4,135,260
Tidewater & West. August
6,370
9,863
13,974
19,830
Toledo Peor & West 4th
wkSept
50,423 -•
44,752
352,145
353,049
Toledo St L & West 4th
wkSept
89,827
84,366
1,209,978 1,005,239
Union Pacific Syst. August
8,441,501 8,451,437 16,264,110 16,270,021
Virginia & So West. August
174,403
155,498
329,045
301,224
Virginian..
•_
August
578,919
516,927
1,076,313
920,809
Wabash
September 2,962,654 2,745,570
8,577,230 8,232,770
Western Maryland- July
727,776
570,982
727,776
570,982
Wheel & Lake Erie. August
783,289
788,217 -1,558,736 1,502,587
Wrightsv & Tennille August
18,217
20,121
34,782
40,265
Yazoo & Miss Vail. September
978.451
848,514
2,676,660 2,333,510
—
_
.
_
...
_____
a
•
'
.
_
Betroit & Mackinac
•
,
...
'
.
—
—
Current
Various Fiscal Years.
Previous
Year.
Period.
Year.
...
_
Minn
StP&SSM\
4th wkSept
889,199
Chicago Division J
Mississippi Central. August
91,538
u Mo Kan & Texas. 4th
wkSept997,454
x Missouri Pacific.. 4th
wkSept 1,704,000
Nashv Chatt & St L August
1,050,745
a Nat Rys of Mex.t 4th
wkSept
983,327
Nevada^Cal-Oregon 3d wk Sept
8,095
N O Mobile & Chic- August
178,582
...
New Orl Great Nor. August
'•NY C& Hud Riv. August
Lake Shore & M S August
;
n
•
Michigan Central August
Clev C C & St L^ August
i.
Peoria & Eastern August
Cincinnati North August
Pitts & Lake Erie August
N Y Chic & St L. August
Tol & Ohio Cent- August
Tot all lines above August
N Y N H & Hartf.. August
758,689
8,234.708
...
...
...
...
...
361,301
349,230
3,057,779 2,919,182
3,259,132 3,175,445
323,,013
341,104
138,411
136,986
1,766,008 1,774.667
1,026,586 1,053,825
575,590
506,477
3d week July
4th week July
1st week Aug
682,295
6,023,866.
2d
3d
week
week
4th week
1st week
2d
week
3d
week
4th week
Aug
Aug
Aug
Sept
Sept
Sept
Sept
nil
(42 roads]
(40 roads
(41 roads)
mi
(41 roads]
(40 roads
(39 roads!
Previous
Year.
OF
14,503,441
21,077,101
14,350,345
14,798,702
15,662,277
20,699.831
14,441,753
15,101,742
15.604,935
21.565,852
-
—•-
Cleve Cin Chic & St Louis.
655,177
14,292,486
21,220,128
14,789,903
15,163,178
15,866,404
22,219.247
15,102,112
15.656,692
15,809,546
20,520,726
,
__
1
to
Jan
Jan
Jan
1
to
1
to
1
to
Jan
1
to
Jan
1
Jan
Jan
1
to
1
to
1
Toledo & Ohio Central
Total all lines
1
Pennsylvania
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
to
to
Jan
Jan
to
1
to
1
to
1
to
Railroad—..— Jan
1
to
Baltimore Chesatj & Atlantic- Jan
Cumberland Valley—
Jan
1
to
1
to
,
Long Island
Jan
Maryland Delaware& Virgin a Jan
N Y Philadelphia & Norfolk. Jan
1
to
1
to
1
to
Northern Central
Jan
1
to
Philadelphia Bait & Wash
West Jersey & Seashore
Jam
1
to
to
-
Grand Rapids & Indiana
Pitts Cincin Chic & St Louis.
Vandalia
Total lines—East Pitts & Erie
—West Pitts & Erie
—All lines E & W.
Rio Grande June—-—
Rutland
....
Jan
1
Jan
Jan
1
to
Jan
1
to
Jan
Jan
Jan
Jan
Dec
1
to
1
to
1
to
1
to
Jan
Pennsylvania Company
1
to
1
1
to
to
iSI
%
31 16,058,589 14,442,403
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
76,597,004
39,129,905
3,918,790
2,879,724
23,729,003
22.225.292
2,231,829
866,409
13,456,962
8,103,640
3,891,246
197029804
121687572
234,094
2,348,888
8,276,081
101,580
2,680,739
8,784,057
69,871,808
34,562,566
3,675,123
2,680.969
20,855,811
20,472,331
2,110,788
861,194
11,512,368
7,642,438
3,409,391
177654787
112493912
208,870
2,089,146
7,499,846
90,415
Aug 31
2,393,981
Aug 31
8,191,309
Aug 31 13.996.293 13,205,469
Aug 31
4,541,169 4,560,469
Aug 31 43,629,809 39,722,379
Aug Ml
3,636,586 3,515,833
Aug 31 28,970,251 27,784,374
Aug 81
7,288.421
6,680,529
Aug '31 172236019 160338493
Aug 31 85,145,349 79,161,026
Aug 31 257381369 239499520
July 31
609,013
590,307
Aug 31
2,422,990 2,302,768
,
GROSS EARNINGS—Weekly and
Monthly.
Current
Monthly Summaries.
v
+210,955
—143,027
—439,558
—364,476
—204,127
—1,519,416
—660,359
—554,950
1.29
6.84
4.37
3.52
—204.611
1.29
+
Jan
Cincinnati Northern.,
Jan
Jan
Pittsburgh & Lake Erie
New York Chicago & St Louis Jan
Increase or
Decrease.
$
(41 roads
(41 roads
r
5,618,418
5,777.515
604,341
244,439
3,508,137 3,441,932
1.979.463 1,915,167
1,162,476
990,335
26819396 26025 227 52,328,631
49,185,468
6,100,010 6,410,194 11,878,288
12,463,959
Current
Year.
(39 roads]
(36 roads!
19,399,935
9,516,646
1,021,563
6,261,415
586,750
251,377
AGGREGATES
Weekly Summaries.
7,657,039
88,334
181,879
171,621
1,020,219 8,528,803 7,918,682
1,622,000 15,923,234 16,130,313
1,098,297 2,077,943 2.142.492
1,566,391
8,675,429 15,866,203
8,719
10,0,425
118,949
195,069
364.386
375,888
155,794
152,783
321,897
300,469
5,134,723 5,072,476 10,095,550
546,896
561,807
1,042,534
Lake Erie & W_ August
Chic Ind & South August
Chicago Indiana & Southern
Michigan- C entral
-1
Peoria & Eastern
10629 957 10134 028
20,734,768
,
Delaware & Hudson
N Y Central & Hudson River.e_
Lake Shore & Michigan South
Lake Erie & Western.n
1,045,126
1.48
0.68
2.22
2.40
5.08
Previous
Year.
Year.
%
Mileage.
Cur. Yr. Prev. Yr.
$
December-.238,072
234,146 263,768.603 234,087,361
January
235,607
232,179 246,663,737 208,535,060
240.986
237,756 232,726,241 218,336,929
February
March
240,510
237,295 249,230.551 238,634,712
April ......240,740
236,515 245,170,143 220.981,373
May
239,445
236,619 263,496,033 232,879.970
...
June
230,074
July
August
September
219,492
90,097
206,084
__
Increase
or
Decrease.
+29,681,242
+38,128,677
14,389,312
+ 10,595,839
+24,188,770
+30,616,063
227,242 259.703,994 242,830,546 + 16,873,448
203,773 235,849,764 223.813.526
216,709 259,835,029 255,493.023
88,450 81,504,881
77,887,237
%
$
+
+12,036,238
+4,342,006
+3,617,644
12.68
18.28
6.59
4.46
10.90
13.14
6.95
5.38
1.50
4.64
®
exican currency.
6 Does not Include earnings of Colorado Springs &
Cripple Creek District Railway from Nov. 1 1911.
e Includes the BoaTi Albany, the New York & Ottawa, the St. Lawrence & Adirondack and the Ottawa & New
York Railway, the latter of
road, does not
which, being a Canadian
returns
cludes the Cleveland Ix>ram &to the Inter-State Commerce Commission.
/Includes Evansville & Terre Haute and Evansville & Indiana
Wheeling Ry. in both years,
RR.
g In¬
n Includes the
Northern Onio RR., p Includes earnings of Mason
Wisconsin Minnesota & I acRlc.
a Includes Louisville &
City & Ft. Dodge and
Atlantic and the Frankfort &
Cincinnati,
t Includes the Mexican
International,
u Includes
.
^f
mal^
iKSudS ^ ii^lTOT MoCtota
i
SoithOT?6
1912, begtoning NoT-
,'IncludM not only operating
rerenne.. but ntoo »U otiur
1017
CHRONICLE
THE
•July 1 to June 30—
1912.
1913.
-June-
the table which
follows we sum up separately the earnings for the fourth
week of September.
The table covers 39 roads and shows
5.08% increase in the aggregate over the same week last year.
'
Western
Alabama Great
Ann
Arbor.
Total operating revenues.
,
4,160,000
Tr--
Chesapeake & Ohio
988,308
„
•
473,912
325,991
190,823
305,255
424,849
703,000
218,400
34,677
39,124
Chicago & Alton—....—
Western
Chicago Indianapolis & Louisv.
Cin New Orl & Texas Pacific—
Chicago Great
r
Colorado & Southern..—?rr-Denver & Rio Grande
Western Pacific
:.
Detroit & Mackinac
.
Denver & Salt Lake-.—
Duluth South Shore & AtlanticGeorgia Southern & Florida. ..
Grand Trunk of Canada.
Grand Trunk Western
Detroit Grand Hav & Milw.
Canada Atlantic
International & Great Northern
Interoceanic of Mexico..
Louisville & Nashville—
108,280
57,767
1,492,505
356,000
240,160
1.632,620
7,357
224,358
Mineral Range
Minneapolis & St Louis—
1
Iowa Central
,
J
Minneapolis St Paul & S S M__
Missouri Kansas & Texas..
Missouri Pacific.
—
National Railways of Mexico.
Rio Grande Southern
St Louis Southwestern...
_
Louis & Western
Total (39
roads)
I;.
34,060
9,500
916,541 11,174,333
964,163 11,145,177
11,203,731
11,130,703
29,156
138,667
134[040
loss27,938 loss50,249 lossl09,511
loss61,012
def 19,469
,
8,468
Operating income
876,139
Name of
Road.
Week or
Current
Month.
13,911
12,335
Year.
583,064
"3",684
2,000
27,822
178,566
73,027
Jan. 1 to latest date.
Previous
Year.
Current
Previous
Year.
Year.
S
$
%
$
498,976
60,233
3,189,381
450,274 3,416,546
249,381
265,013
56,221
1,253,439
198,145 1,324,912
210,926
August
c Aur Elgin & Ch Ry.
458.875
496,159
70,418
74,248
August
Bangor Ry & Elec Co
95,754
101,979
11,767
13,862
Baton Rouge Elec Co August ...
314,935
372,128
57,866
63,527
June
Belt Line:
13,493,369
2038,340 1802,691 15.624,438
Brazilian Trac, L & P August
82,804
87,638
15,958
17,289
Brock & Plym St Ry. August
2288,573 2195,014 11,995,943 11,672,616
June
Bklyn Rap Tran Syst
225,729
240,622
31,598
33,454
August
Cape Breton Elec Ry
687,539
790.280
94,925
99,752
Chattanooga Rv&Lt. August
220,434
234,541
44,449
46,001
Cleve Painesv & East July
767,999
824,768
117,208
129,052
Cleve Southw & Col- August .21
350,007
387,811
44,758
50,403
Columbus (Ga) El Co August
719,888
776,451
169,552
185,620
June
Coney Isl & Bklyn..
1,133,369
1,384,291
147,352
August ..I 180,735
Dallas Electric Corp.
8,306,852
246,080 243,400 9,394,207
Detroit United Ry_- 3d wk Sept
311,716
300,659
51,417
51,782
DDE.B & Batt(Rec) June
761,755
•! 834,294
105,656
117,097
Duluth-Superior Trac August
1,555,174
1,729,381
236,699 208,339
East St Louis & Sub. August ...
495,618
570,153
63,401
65,590
August
El PasoElectric Cos..
864,189
933,276
159,199
161,785
June
42d St M & St N Ave
1,302,842
1,564,298
August .11 223,139 199,208
Galv-Houst Elec Co.
814,673
859,538
119,738 111,605
Grand Rapids Ry Co August
661,955 V 614,202
97,924 .89,044
Harrisburg Railways. August ...
Havana El Ry, L & P
1,953.003
54.117 2,161,293
58,554
Wk Oct 5
(Railway Dept) —
Honolulu Rapid Tran
365,102
409.281
45,688
50,894
August ...
& Land Co
203,712
205,507
28,314
25,115
Houghton Co Tr Co. August
1,842,112
297,865 283,357 1,904,868
June
Hudson & Manhattan
189,313
199,471
36,425
34,772
"
Idaho Traction Co.. June
628,060 5,071,614 4,771,399
August .II 655,684
Illinois Traction
2333,152 21,451,314 20,996,030
2348,789
Interboro Rap Tran. August
443,883 : 399,124
48,856
55,255
Jacksonville Trac Co August
872,777
942,467
163,244 147,887
Lake Shore Elec Ry. August
116,328 1,225,603 1,045,877
136,947
Lehigh Valley Transit September
409,223
459,567
71,808
81,046
Lewis Aug & Waterv. August
96,233
109,221
22,718
25,815
June
Long Island Electric.
3,236,281
July
~ 478,743 453.467 3,444,084
Milw El Ry & Lt Co.
684,651
,797,435
132,026
150.541
Milw Lt- Ht & Tr Co. July
543,827
610.624
76,981
87,560
Monongahela Val Tr. August
1,335,088
166,000 1,428,262
178,431
Nashville Ry & Light August
213,516
293,867
39,507
55,181
N Y City Interboro. _ June
180,238
190,382
37,178
38,931
.II
N Y & Long Isl Trac. June"
70,560
75,090
14,782
15,504
June
_I
N Y & North Shore.
631,664
673,175
132,479
135,525
June
N Y & Queens Co
1174,464 1150,986 8,172,275 7,946.658
New York Railways. July
98,599
106,030
16,197
17,798
Northam Easton & W July,...II
1,979.792
339,306 305,222 2,155,676
North Ohio Trac & Lt August ...
1,376,110 1,088,836
185.885 147,203
North Texas Elec Co August ...
182,729
203,251
36,621
41,151
Northw Pennsylv Ry July
45,936
-48,820 >:
17,326
18,273
Ocean Electric (L I). June
184,966
189,106
23,954
26,312
August ..I
Paducah Tr & Lt Co.
188,457
188,064
25,905
24,953
Pensacola Electric Co August ...
1970,032 1913,094
Phila Rap Trans Co. August ...
556,152 543,189 4,418",046| 4,376",363
Port (Ore) RyL&PCo. August ...
660.876
708,429
118,155
130,854
Portland (Me) RR_. August ...
4,798,095
736,695 713,526 4,884,981
July .....
167,368
Puget Sd Tr L & P
174.625
38,720
41,578
Richmond Lt & RR_ June
American Rys Co— August
Atlantic Shore Ry.__ August
31,092
22,765
Earnings.
Latest Gross
97,000
def47,621
2,627
9,927,777
TRACTION COMPANIES.
ELECTRIC RAILWAY AND
82",666
—July 1 to June 30—
1912-13.
1911-12.
21,131,508
operating revenue
One-twelfth of annual taxes.
130,510
24,559
41,883
1,794,992 21,620,709
878,451 10,446,375
834,652
!
Net
20,647
180,927
15,160
348,000
471,192
1,680,616
521.331
44,752
84,366
547,995
513,934
r :
53,098
11,214
*
175
856,670
__
...
._
29,236
5,671
5,461
...
843,491
-
—
from
privileges—Dr
Total operating revenues.
Total operating expenses..
21,565,852 20,520,726 1,888,617
1,045,126
—
Net increase (5.08%)
Co.operat'n. 1,691,322
United States Express
Gross receipts
Express
27,782
1,566,391
492,095
50,423
89,827
Toledo Peoria & Western—...
891
/
—Month of June1912.
1913.
32,600
7,749
3,350
10,715
1,348
312,868
350,000
499,014
1,859,182
^
— .—
;
2,900 W
I
74,200
1,020,219
1,622,000
,.
Seaboard Air Line
997
614,110
'
5,192
758,689]
620,527
567,429 '
1,067
3,988
Operating income
11468
2,917
25,028
17,238
453,000
219,513
1,451,693
21,268
236,693
889,199
997,454
1,704,000
343,960
983,327
18,844
Mobile & Ohio
Toledo St
Decrease.
4,812
73,632
199,700
703,000
99,198
1,464,723
.
Southern Railway
Texas & Pacific
45,297
44,230
.
operating expenses
1,162,106
1,332,030
711,503
109,536
64,238
52,133
48,234
privileges—Dr
Express
$
$
113,470
61,336
5,788
154,514
57,010
294,661
526,600
3,457,000
889,110
479,104
314,823
187,906
280,227
407,611
777,200
185,800
26,928
35,774
97,565
56,419
148,726
61,822
368,293
726,300
Pittsburgh
Canadian Northern.
Canadian Pacific.
Express Co.—
from operation
Net operating revenue
One-twelfth of annual taxes.
Southern
Buffalo Rochester &
Increase.
1912.
1913.
September.
Week of
8
Gross receipts
Total
Fourth
1912.
$
1913.
Earnings by Weeks.—In
Latest Gross
...
Dates.—In our "Rail¬
way Earnings"
Section or Supplement, which accompanies
to-day's issue of the "Chronicle " we give the August figures of
earnings of all steam railroads which make it a practice to issue
monthly. returns or are required to do so by the Inter-State
Commerce Commission.
The reader is referred to that Supple¬
ment for full details regarding the August results for all the sepa¬
Monthly to Latest
Net Earnings
'
give all statements that have come in
the present week covering a later or a different period from
that to which the issue of the "Railway Earnings" Section
is devoted.
We also add the returns of the industrial com¬
panies received this week;-. .;
-Net Earnings
companies. '■
rate
In the. folio wing we
-Gross Earnings-
Current
Year.
$
Grand Trunk of
July 1 to Aug 31
•
4,090,050
Grand Trunk
8,063,547
— ...
630,698
Western.Aug
July 1 to Aug 31...
1,262,856
— .
Milw.Aug
July 1 to Aug 31 —
214,126
Aug
218,992
July 1 to Aug 31------
447,961
Det Grd Hav &
Canada Atlantic
Previous
Year.
v
Year.
'
"
Canada—
Trunk Ry.__.Aug
Grand
Current
Previous
Year.
Roads.
421,439
3,958,411
7,644,785
1,293,902
2,320 ;733
1,122,601
2,014,630
595,173
1,167,960
73,484
153,781
102,196
173,247
207,800
393,214
6,326
1,460
25,305
204,879
401,973
22,142
84,676
■
.
...
_
.
-.
_
_.
.
15,086
def3,407
I 83,703
■
INDUSTRIAL COMPANIES.
Current *
,rcA.
Sept 1 to Aug 31
259,342
2,772,732
212,864
2,417,956
53,732
48,385
^
Penn Central Lt & Pow .July
a
July
.
31—,275,450
Net earnings here given are
b Net earnings
Year.
Previous
Year.
$
Pacific Lt & P Corp.... Aug
Mar 1 to
Current
Previous
Year.
Year.
Companies.
,
—Net Earnings
-Gross Earnings
here given are
230,381
88,017
1,060,805
23,486
118.975
20,481
100,292
117,718
Rentals&c.
-Int..
Year.
Current
Companies.
Year.
Previous
Sept 1'to Aug 31.
Mar 1 to
•
...
x
July 31
After allowing for other
*
Thira
of Net Earns.—
Year.
Year.
Current
Previous
43,001
499,459
77,029
775,191
45,016
561,346
16,539
83,422
11,835
55,666
6,947
35,553
8,646
44.626
-June-
-July 1 to June 30—
1912.
1913.
$
$
2,879,618
3,351,531
1,736,223
2,009,028
1913.
Co.—
receipts from operation
1912.
303,494
174,990
291,403
154,426
128,504
95,523
136,976
91,721
1,342,503
1,037,875
1,143,394
32,980
3,975
45,255
5,772
304,627
47,073
209,150
41,202
Gross
Express
privileges—Dr
Total
Total
operating revenues.
operating expenses
_
Net operating revenue
One-twelfth of annual taxes.
Operating income
257,553
39,483
1912.
S
Southern Express Co.—
Gross receipts from operation
Express privileges—Dr
$
1,182,728
587,398
1,205,498
Total operating revenuesTotal operating expenses. _ _ _
595,329
543,424
569,880
561,938
Net
operating revenue
One-twelfth of annual taxes.
Operating income
£12,433
£67,089
263.886
C June
362,267
UnlonRyG&ECo(Ill) July _^__II
.1 1065,928
United Rys of st L__ July
Westchester Electric. June
60,600
223,170
66,811
67,486
24,303
17,381
...
Rys & Light August
.II
June __i
Railroad
August.III
York Railways.
Youngstown & Ohio. August ...
Youngstown & South August ..
c
These figures are
Electric
544,695|
505,475,
97,086}
131,929
538.73Q]
2,004,296]
635,618
1913.
$
1912.
5
16,182,357 15,628,469
8,045,073 7,728.291
8,137,283
6,782,976
51,904
14,527
7,942
23,175
1,354,306
37,377
—15,233
1,193,064
161,242
7,900,178
6,396,540
•1,503,638
178.174
1,325,464
768,350
263,641
488,500
462,217
65,206
123,340
496,263
1,883,583
6,339,932] 5,885,381
£523,660
£527,440
£13,140
£484,402
£502,859
£12,595
£60,145 £2,423,233 £1,955,198
1,312,389 1,207,987
244,454
330,434 2,667,026 2,081,754
1044,441 7,287,650 6,988,825
272,722
272,776,
57,875
1,456,823
1,647,92:
198,202
356,156
328,60
69,044
465,392
62,350 ?■ 499,921'
152,395
163,212]
21,417
109,556
113,557
17,488
•
for consolidated company.
Earnings.—The following table
railway gross and net earn¬
Railway Net
gives the returns of ELECTRIC
ings reported this week:
-Net Earnings
-Gross EarningsPrevious
Year.
Roads.
Current
Detroit United b
Jan 1 to Aug 31
..Aug 1,186,358
8,672,284
Hudson & Manhattan—
Feb 1 to Aug 31
Lake Shore
Jan
1
$
47,701
530,592
389,172
2,855.589
1,103,504
7,601,892
370,478
2.640,255
el,678,866 cl,730.640
__c3,144,990 c3,040,109
\ 87,026
75,108
147,887
163,244
.
,
Electric.a.-Aug
to Aug
Year.
%
48,619
540,454
Consol Cities Lt, P & Tr Aug
Jan 1 to Aug 31
Previous
Year.
Year.
$
•July I to June 30—
-June-
•
~£ 12,645
Union Ry Co of NY
814,720]
302,452]
102,859
35,677
64,073
'90,658
14,837
31,424
62,981
333,854
158,502
105,091
38,418
70,985
94,533
20,547
34,312
71,623
362,083
170,276
Current
29,005
1912.
934,243
__I
Rap Tran. 3d wk Sept
Underground Elec Ry of .London
London Elec Ry_. Wk Sept 27
Metropolitan Dist. Wk Sept 27
London Gen Bus.. Wk Sept 27
167,948
Great North'n Express
June
Avenue
Yonkers
COMPANIES.
(August
Twin City
W estern
income received.
EXPRESS
...
I"
Midland- June
Tampa Electric Co_.
40,689
469,561
Pacific Lt & Pow Corp..Aug
Penn Central Lt & Pow. July
(Mo) Ry ,Lt,
Heat & Power Co_ August
Santiago Elec Lt & Tr August
Staten Isl'd
Surplus.
INDUSTRIAL COMPANIES.—Bal.
\
St Joseph
Savannah Electric Co August .,.
June
Second Ave (Rec)
Southern Boulevard. June ,.II"
after deducting taxes,
before deducting taxes.
.Charges' and
Interest
1,244,752
31
Nashv Ry & Light a.^.Aug
Jan 1 to Aug 31
.
942,467
872,777
383,703
372,562
178,431
166,000
1,335,088
61,704
547.874
66,876
540,364
1,428,262
[Vol.
Gross Earnings
Current
Previous
Year.
Year.
Roads.
Utilities Impt. Co
Jan 1 to Aug
Aug
Net Earnings
Current
Previous
Year.
Year.
140,948
INCO IE ACCOUNT.
Freight
Passenger
Current
Year.
Roads.
&c.
32,532
244,793
179,841
1,437,392
,
928,803
64,068,693
844,139
73,763,866
761,960
72,676,139
11,610
63,423,946
10,526
64,912,832
10,909
74,525,826
12,928
10,188,054
8,532,672
1,309,801
23,569,379
7,861,491
7,207,716
1,202,293
20,756,387
10,842,955
8,992,137
1,073,392
1,130,630
8,065,463
7,911,231
1,127,233
21,601,478
1,024,35G
24,045,197
1,070,712
Feb
1
to Aug 31
44,673,298
(61.47)
28.002,841
38,153,517
(60.16)
25,265,429
39,729,761
(61.20)
25.1S3.071
45,987,405
(61.71)
28,538,421
Operating
expenses.
-----
General
176,499
z234,071
£211,350
1,418,827 £1,580,441 £1,356,409
expenses
Total oper. expenses.
P.
c. op.
exp. to op. rev.
Net operating revenue.
.
0166,217
al32,436
Lake Shore
Electric.... .Aug
Jau 1 to Aug 31
35,311
280,992
35,188
279,249
Nashville Ry & Light
Aug
Jan 1 to Aug 31—___.
40,002
304,824
36,994
288,836
1,512,648.
51,715
'102,711
39,920
93,313
21,702
243,050
Sleeping, parlor, obser¬
vation, dining & cafe
1,598,204
29,882
253,528
.
and restaurants.
cars
a
After allowing for other
income receivedDoes not include interest on
bonds.
441,803
602,475
3.739,079
25,624,874
3,296,797
29,140,896
3,622,000
24,312,633
21,839,101
22,328,077
25,518,896
4,310,535
315,288
4,416,028
615,S16
4,733.335
>607,094
3,795,727
160,578
26,870,045
27.668.506
29,475,201
537,303'
_____
312,751
25,578,180
561,149
6,665,090
17,360,000
509,928
6 >669,014
17,360,000
24,586.239
3,082,267
24,538,942
4,936,259
_
Hire of equipment.....
Gross
Annual Reports.—An index to annual
reports of steam
railroads, street railways and miscellaneous
companies which
have been published
during: the preceding month \yill be
given
on the last
Saturday of each month.' This index will
include reports in the issue of the
"Chronicle" in which
it is published.
The latest index will be found in
the issue
of Sept. 27.
The next will appear in that of Oct. 25.
income.—
Deduct—•
Rentals paid
on funded debt
(7%)
6,837,<H5
17,360,000
for year....
25*484,988
3,453,518
24,587,130
2,303,815
on stock
Total
w
Netincome
not
GENERAL BALANCE SHEET
JUNE 30,
[For further details of 1913 balance
sheet
1913.
Louisville & Nashville
:
Road &
{Report for Fiscal Year ending June 30
1913.)
length
subsequent
on
balance sheet.
Advs.
>
;
.
compiled for the "Chroni¬
947.
as
page
1912-13.
1911-12.
1910-11.
7,369
7,244
7,020
Passenger earnings.....$15,158,588 $13,623,009
$13,422,057 $14,311,800
Freight earnings.______ 58,426,236
47,877,369
43,379,174
46,675,734
Mail, express, &c„____
4,749,898
4,417,729
4,173,735
3,214,934
Other than
transporta'n
358,045
279,712
282,667
262,902
469,873
5,651,778
751,959
herns..
Total...
97,
p.
662,289
Koot. Ry. & Nav.
deb.,
interest guaranteed
_
_'
6,461",789'
5,145,514
-
4,823,' 184
42,740
14,693,982
11,8,177
14,698,590
14,698,663
4,845,924
2,169,377
Deferred
1,955,645
credit
Approp,
2,237,285
Profit
and
Total.
191,264
5,651,778
5,542,517
750,000
83,690,770
80,260,438
surp.—
Insur. fund..
Reserve" sundry
funds
_
loss.
X.
..658,811,819 648,120,156
City Southern Railway.
on
subsequent
tistics of interest:
Below
pages.
we
ROLLING STOCK JUNE
/
give various sta¬
-
Locomotives. Pass.Cars.
1013
30.
.
$4,282,168
2,818,338
2,319,158
$2,703,273
$774,093
.
Miscellaneous*
5,847
1,112
1,148
1,102
'
Northern Pacific
.
Railway.
04
1911.
5,479
79
1910
202
86
208
87
5,636
6,536
6,908
1912...
X
STATEMENT FOR
,(Report for Fiscal Year ending June 30
1913.)
together
with the income
account, profit and loss account, balance
sheet and traffic statistics.
Below we give the
comparative
income account for several
years, also the comparative bal¬
ance sheet for two
years and comparative traffic
statistics.
Par Value Treas. Sccurs.
[Total $83,607.7451, excl.
Stocks
pages,
—
—
Includes stock in following
cos.: C.,B.
operated.
Operations—
Gross earnings per mileNet earnings per mile—
♦Tons carried
Average miles operated.
•Equipment—
Locomoti ves
_
—
_
x
_
Passenger cars...
Freight cars
Miscellaneous cars..
Operations—•
Passengers carried—
OPERATIONS.
1912-13.
6,260
1,366
1,162
46,988
6,961
1911-12.
6,025
1910-11.
5,950
1,416
1,161.
43,220
6,567
1,441
1,161
43,100
6,460
1909-10.
5,765
1,430
1,119
43,816
6,755
9,113,157
8,661,645
,9,262,853
9,639,994 1
661,517,397 649,503,183
759,276,059 '076,772,093
mile.
2.39 cts.
...
"Rateper ton per mile.
dross earnings per mile.
$12,365
$4,641
1911-12.
X, '•
2.36
cts.
30.
1910-11.
827
■
1909-10.
827
•
827
$10,633
$11,493
$11,074
$3,340
$4,085
$3,814
3,915,083
3,326,572
3,605,461
3,620.047
♦Tons carried one mile. 1017,522,676
840,995,212 925,270,313 996,910,502
Av. per ton p.m. (mills)
7.88
7.98
7.87
7.25
Freight rects. per mile..
$9,694
$8,113
$8,864
$8,794
Fgt. rec. per rev. tr. mile
$4.09857
$3.29778
$3.01505
$2.63806
Rev. train-load, tons...
520.11
413.31
380.49
361.47
Rev. passengers carried.
1,775,973
1,701,032
1,839,357
1,860,020
Rev. pass, carried 1 mile 67,533,444
63,662,816
66,510,967
61,220,129
Aver, per pass, per mile.
2.542 cts.
2.547 cts.
2.525 cts.
2.366 cts.
.
_
•
■
.
,
♦
Revenue freight only.
INCOME ACCOUNT.
Gross Receipts—
*
1912-13.
1911-12.
$7,955,336
1,694,530
1,056,343
$6,653,269
;1,599,316
1,015,244
$7,278,970
L657.662
1,058,542
$7,226,739
1,430,114
.$10,706,309
Operating Expenses—;
Maint. of way & struc.. $1,024,840
Maint. of equipment—
:1,314,625
Transportation expenses^ 3;661,311
1,272,859
$9,995,174
$9,594,652
$1,041,393
1,289,937
3,318,608
316,575
366,326
$939,962
1,394,547
3,376,631
316,940
375,918
$1,047,348
1,195,699
3,346,463
319,957
359,117
467,982
$6,332,839
$2,940,020
(68.59)
149,172
$6,404,001
$3,591,173
(64.07)
130,460
$6,268,585
$3,326,067
(65.33)
94,453
--$4,127,134
$3,089,192
$3,721,633
$165,339
1,677,784
32,300
31,144
274,362
$410,369
1,5,05,791
30,500
39,060
217,522
$361,875
1,334,186
*840,000
*810,000
$3,320,929
$806,205
,043,242
Freights
Passenger.
1
Mail, express, &c.___
..
..
Total receipts...—
..
_
Traffic expenses
General expenses
315,868
400,512
Total oper. .expenses. $6,747,157
Net earnings
$3,959,152
P. C. of exp. to earns(62.47)
Int.,3 discount, rents, &c.
Pass, carried 1 mile
Rate;per paas. per
Rev. freight car'd (tons)
21,235,527
do
do
1 mile.6,232,163,637
827
&
Q. RR., Camas Prairie RR.
Big Fork & International Falls
Ry., Wash.-Central Ry.
(entire $1,000 000
stock), Missouri River Ry., Connell
Northern Ry., Camp Creek
'Western Dakota Ry., Shields
Ry.
River Valley Ry., Dakota &
Montana Rv '
Cuyuna Northern Ry., Midland
Ry. Co. of Manitoba, Lewiston
Terminal
Co., Gilmore & Pittsburgh RR.
Co., Ruth Realty Trust
Co., &c.
Said securities (par value
$83,607,745) have a book value of
which is classified in the
$73,382,835,
general balance sheet as follows:
Securities of pro¬
prietary, affiliated and controlled
companies, unpledged, $58,020,300* se¬
curities issued or
assumed, held in treasury,
$13,560,500: marketable se¬
curities other than those issued or
assumed, $12,026,945.
r
688
YEARS ENDING JUNE
1912-13.
Miles
_
£
872
*
Insur. Fd., June 30
1913.
Bonds.
Northern Pac. Ry. Co..—
$54,000 Nor. Pac..prior lien 4s____
$927,000
Spokane Portland & Sedo
do
gen. lien 3s___
8,828,500
attle Ry_
-20,000,000 N. P.-Gt. Nor. jrint4s
St. Paul Union
Depot Oo_
59,856 VVash.&C. R. Ry.lstM..4s 1,271,000
Lake Suuerior Terminal &
2,480,000
Spokane Portland, & SeatTransfer Ry
157,200
Ry. 1st. 4s
Colo. <& Southern
_31,855,000
Ry. Co.
100,000 Northwest. Impt.. C
2,960,000
Northwest Impt. Co*.
6,775,000 Other good RR. bonds.__
159,500
Clearwater Short Line-:.. 2,127,200
Miscellaneous
_,X- —£6,137,095
—
91
r
The report of Chairman W. P.
Clough and President Jules
M. Bannaford will be found
on
subsequent
*
.
Freight Cars.
196
188
168
1903
Balance, surplus
-V. 96, p. 1700..
•
4,845,577
accrued
(partly «3t.)X
The full text of the remarks of President
J'. A. Edson will
be found
750,666
.3,502,000
divs. & rents.
Taxes
{Report for Fiscal Year ending June 30 1913.)
j 95 387
'
;
Dividends (7%)
14,698,659
Int. -new stk
subscript'
209,320
Renewal
Aliouez
Bay
ore docks______
;
128,168
Refunds Minn, rate case
750,000
Deprec'n steamships
250,000
Int. and renewal fund..
4,250,000
1,159,945
467,896
80,552
459,618
255,228
85,555
*6,458,506
Kansas
1,183,703
Unmatured int.,
658,811,819 648,120,156
803, 729.
$66,197,819 $51,257,633 $61,465,370
$28,676,259 $25,162,892 $20,562,461
$21,858,9S1
754,453
divs. A rents.
deferred
debit
107,613,500 107,613,500
1,249,440
887,487
8,518,719
5,830,040
accounts.
Other work'.liab.
269,363
Other
S
Misc.
596,269
633,479
5,542,517
-V.
772,043
Vouch. A wages.
Matured
int'st,
items........
i60,185
Insurance fund-
income.$31,884,417 $28,870,498 $23,337,471
$23,113,800
i______
Rentals paid
Hire of equip, balance—
Bond interest accrued..
4,314,709
Special deposits.
^Gross oper.
revenue..$78,692,767
Net oper. revenue
Gross corporate
accounts.-
1912.
S
Traffic, Ac.,bals.
22,665,563
1,373,800
5,566;568
17,434,500
14,959,511
3,706,813
1,148,770
816,827
6,411,113
4,358,517
968,421
9,584,221
10404
1913.
Col. trust bonds
,
dividends, Ac.
-
1909-10.
7,686
__
Agts. A conduc.
page
Capital Stock.'. .248,000,000 248,000,000
Mortgage bonds 192,352,500 191,365,500
for
Accrued interest,
-.{Report for Fiscal Year ending June 30
1913.),
;
..
\
prop.,
cos.
see
•.
Liabilities—
155,734,759
22,642,067
Misc. investm'ts
1,755,188
Cash
3,457,972
Securs. in treas. 13,560,500
Marketable sec. 12,065,080
Loans & bills rec
4,516,324
Traffic,Ac.,bals.
1,057,967
Misc.
•
Aver, miles operated.
to
156,872,066
Material A supp.
Great Northern
Railway.
C-'
equip't_421,453,386 406,901,7S7
&c.,
also the income account and
The usual comparative tables
cle" were shown last week on
S
construe., Ac.
President) is given
pages;
S
Securities
The annual report of the Board
of Directors (Mr. H. Wal¬
ters, Chairman, and Mr. M. H.
Smith,
at
1912.
A. ssctc
Railroad.
,
526,320
6,6^0,810
17,380,000
Int.
Dividends
1,036,404
28,928.506
Operating income
Divs. & int. on
securities,
int. on dep. & rentals
received X X
REPORTS,
48,758,736
21,333,313
3,671,817
303,820
—
_
ANNUAL
.
43,332,918
17,278,813
3,456,962
28,311,661
3,999,028
.
Total net revenue
Taxes accrued—
X—
_
£
:
43,793,521
15,343,752
3,357,865
expenses—
Maint. of way & struc..
Maint. of equipment.
Transporta'n
15,170
285,800
—
Hudson & Manhattan—
$
62,495,138
Traffic expenses.
Detroit United Ry
Aug
Jan 1 to Aug 31___—
1909-10.
Total oper.
revenue..
Per mile
(average)
Current
Year.
Consol Cities Lt, & P Tr
Aug
Jan 1 to Aug 31-
1910-11.
$
cr
$
71,625,298
1,050,041
-
rev.
Total
Bal. of Net Earns.—
Previous
Year.
Year,
Previous
*
Rev. other than
transp.
Other
Charges and Surplus.
.
1911-12.
$
*
_
from transp.
^,118,029
—Int., Rentals,
.
revenue—
52,270,686
15,808,036
3,546,576
a Net
earnings here given are after deducting taxes,
b Net earnings here
given arebefroe deducting taxes,
c These
figures ropresent income from all sources.
Interest
1912-13.
Operating
137,899
31—1.137,876
xcvii.
2-27 cfes.
2.18
cts
17,455,975
17,217,748
18,263 9985051,181,481 4S00,666,026
5419,034,365
,0.839cts."
D.867 cts.
0.903 cts.0.900 cts. 1
>$11,610
',410,527"
$10:909
$12,928
Netincome
Deduct—
Taxes..
Interest
-
on
bonds
Rents, &c
Interest on equip, notes
Hire of equipment
\
Adjust, of current accts.
Div.,on pref. stock, 4%
Total.
Balance, surplus
+
•—
Charged against profit and loss
account.
"•
$45,950
•
1910-11.
,
1909-10.
937,799
23,676
$3,420,520
M
$343,773
1,209,042
23,518
48,240
286,597
2,400
*840,000
57.420
232,088
63,258
*840,000
'$2,896,974
$824,659
$2,769,099
'.$651,421
*
account but here deducted
from income
.>
Net(over tax)
Gross.
Dock-1912-13. 65,647
3,463
2,534
16,700
11.292
2,756
28,249
Gulf. Ter__1912-13.
K* C. Sh. &
do
do
4911-12. 27,229
Pt. Arthur Oan.&
do
do
Poteau Valley
11,468
*.1911-12- 56,633
RR*„ —1912-13-
'
40,100
Material & supp
867,923
Traffic balances.
Indlvuals & cos.
Governm't
Wells, F.&Co.Ex.
Investm'ts in &
to
ad vs.
balances
Pay-rolls & acct3
Bills payable...
1,144,838
343,122
226,984
Accrued taxes-
192,078
563,161
10,509
229,680
178,322
168,993
Renewal and re¬
funds.
serve
Bret.
22,996
div.
1,355,585
6,123
180,464'
..
238,087
_
210,000
210,000
114,715
178,033
Profit and loss..
<74,953,572
4,329,798
operating
270
50.26
39.51
$0,198
$0,200
$0,191
$1,214
$1,179
$1,312
$1,226
50.38
49.21
154.91
$8,867
$8,053
$8,533
54.31
$8,233
Other than
Commerce Commission and carried separately pending
appeal from the order. '
.
'
\ • ■.
c The item
of cash in 1913, $1,715,836, includes reserve for dividend,
$210,000; reserve for coupons unpaid. $442,076; available fo,r other pur¬
poses, $1,063,760.
d After deducting $20,683, the estimated original cost of property aban¬
doned and not replaced, less salvage, $67,620 discount on refunding and
19,777.431
3,666,435
981,094
transports.
511,930
.■_*
873,417
456,598
T "
-------Jn-$71,364,935 $64,712,853 $68,487,473 $66,220,579
Total
Oper ating Expenses—
$8,493,346
8,302,467
1,981,399
26,210,502
1,771,780
$9,738,016 $10,673,387
8,455,746
9,359,749
1,795,262
2,007,149
25,195,579
26,171,419
1,949,395.
1,779,350
——$52,504,102 $46,759,494
.-$18,860,833 $17,953,359
Net earnings.*--1
2,946,438
2,793,315
Taxes
$49,055,683 $48,069,369
$19,431,790 $18,151,210
$9,885,324
10,072,854
Traffic expenses.*
*—y 1.999,138
Transportation expenses 28,772,587
& struc—
equipment—.
Maint. of
__
1,774,199
General expenses
Total
-
—
*2,708,651
*
Rock Island Company.
ending June 30 1913.)
Oil subsequent pages we
Operating income.... $ 15,914,395
Outside operations
Hire of equipment.,
aef.867,857
^
give the report of the operating
the Chicago Rock Island & Pacific Ry.
We also
give below, under a separate heading, the balance sheet and
profit and loss account of the Chicago Rock Island & Pacific
RR. (all of whose stock except directors' shares is owned by
the Rock Island Co.).
Following is the combined income
account of the two companies last named.
company,
COMPANY AND
COMBINED INCOME ACCOUNT—ROCK'. ISLAND
CHICAGO ROCK ISLAND & PACIFIC RAILROAD
Div.
on
C. R. I. & P. Ry.
1909-10,
$3,567,441
$3,741,447
(5%).
$3,538,088
.
owned...
$3,568,545
Per cent of said dividend.
\o)
Co. stock
Total income
$3,599,318
-
Deduct—
$122,283
$89,657
.
BALANCE
3,648.790
3,228,636
3,225,035
$3,318,293
$273,385
$3,347,318
$297,446
SHEET OF ROCK
1913.
S
1913.
S
stOck.j/54,000,000
32
54.000,000
32
338,907
75,415
Cos. & individ'ls
Total
—
—
.
ACCOUNT
'
'
Net
FOR
income.
—_
$3,598,297
Total income
Deduct—
$15,269
$14,723
Expenses
Interest
on
4% bonds
Interest
on
5% bonds.
__
2,853,636
2,854,120
375,000
Total.
Balance for year
..
.
BALANCE
1913.
$26,953
2,850,035
$
AssctS"**"
50,000
*
owned..222,908,029 222,908,029
292,768
Other investm'ts
339,843
1,604,451
Oash, &c
1,587,000
Liabilities—
Gold bonds, 4
Gold bonds, 5%
cos.&indfv.
Unnd. coup.,&c.
Interest,, not due
Due
ProfR and loss..
asaeti..224,834,872 224,805,248
p. 594.
Tot.
$
$1,115,090
$1,363,67$
$ 250,000
$250,000
a55,610
$250,000
68",284
39,181
125,000
24,464
67,000
125,000
25,402
391
21,626
76,250
76,250
* —
.*__*■
5,734
72,088
*
_
,
*
_
*
2"6", 550
24,935
50,000
19,484
!
14~596
on
76,250
first pref. (5%)76,250
on
2d pref...— -(6%)240,000
on
(6%)420,000
$1,158,491
$66,769
common..
(7)280,000(7^)310,000
<7)490,000(7^)542,500
$1,089,680
$25,410
$1,340,896
YEARS ENDING JUNE 30
INCREASES AND DECREASES IN
EARNINGS FOR
Earns.
Net Earns.
Pacific Coast SS. Co—_
$184,634
$4,181,147
$143,380
43,222
183.227
247,720
622,273
2,185,440
368,570
Coal
department
226,491
595,324
2,583,339
*
and
243.228
345,133
Lumber & miscellaneous
Taxes
let Earns. Gross
Gross Earns.
$4,195,644
Department—
$1,182,111
$7,945,931
Total
SHEET JUNE
BALANCE
Bills
600,687
290,910
Habilitie3224(834,872 224,805,248
.—
•
Coal and lumber inventories
!
Prepaid accounts
i
j
_
98,850
393,776
82,240
944.608,
124,644
665,357
78,459
168,272
342,098
56,204
962,270
1,062,843
29,625
193,647
469,434
155,826
299,681
200,288
•
• 1
379,481
148,890
113,673
133,982
—* —
—
1 26,246
284,071
accounts:—,
Total assets..—,
J5
$
Cl59,451
:*
*
Materials and supplies.
■
19:712,391
*
.*—'
Claims against underwriters.*
Miscellaneous
1911.
1912.
19,797,823
443,147
v
Land notes and contracts
7,500,000
60,046
—i
$
20,336,433
*
receivable
$1,086,511
$7,406,912
30—ALL COMPANIES.
1913.
bonds
Agents, conductors, &c
Companies and individuals*
.
59,764
149,737
548,374
265,210
deb79,972
514,035
deb94,473
general
CONDENSED
$
600,687
320,364
BY
-1911-12-
Pacific Coast Ry. Co.**
Coi. & P. Sd. RR.Co—*
Cash
245
Mine.
(1912-13 INDICATED
REPORT).
-1912-]
Assets—
59,906
$1,418,954
$115,333
loss by explosion, Lawson
replacements, $110,000.
Property (including stocks and
of proprietary companies).
275
$22,782
Consists of Pacific Coast Coal Co.'s
$165,410, less its reserve for
145,000,000
71,353,500
rlM
(6)210,000
(6)420,000
Balance, surplus
$8,308
2,829,840
818,950
50,000
■
71,353,500
7,500,000
21,808
$1,225,260
Total
1912.
145,000,000
$1,328,980
34,698
$1,534,287
Div.
$3,562,940
1913.
Capital stock
28,579
Div.
SHEET JUNE 30.
Stocks
375,000
$1,086,511
6,390,669
$1,512,479
$250,000
M iscellaneous
5M% in 1910-11.
1912.
$
y
...**
Reduc. bk. val. S.Telands
$3,568,843
$3,343,905 $3,301,988 $3,707,098
_sur.$29,454 sur .$247,014 sur .$453,716 def .$144,158
1912-13, 1911-12 and 1909-10.
—
$1,182,112
43,148
*
*
income—*
Depr., &c., of coal mines
Div.
1909-10.
$7,903,148
6,469,759
Reserves
1909-10.
$3,755,704
375,000
100,000
325,000
Dividends
6,410,401
Improvem'ts written off
Loss on steamships.——
y$3,741,446 *$3,538,OSS
14,258
24,852
$3,590,919
6,763,819
Total net income
JUNE 30.
1910-11.
1911-12:
1912-13.
*$3,568,545 *$3,567,441
29,752
23,478
$7,798,739
Pacific Coast Goal Codoss
ENDING
YEAR
1910-11.
1911-12-
$7,496,912
Interest on bonds
Island & Pacific RR.
'
ACCOUNT—ALL COMPANIES.
Deduct—
Issued
Includes:
.
income account
—„$7,945,931
earnings
Other
Chic. R.I.& Pac.
Ry. Co. stock
Total
.
Presi¬
Vice-President and General Manager,
Operating exp. and taxes
—150,338,940 150,075,447
y
earnings
Gross
a
—T. 97,
y
William M. Barnum,
1912 13.
Preferred
$5,111,797..
$4,052,550 —V. 95, p. 1115.
treasury,
'
5%
somewhat
ending June 30 1913.)
earnings and expenses,
and balance sheet have been as follows:
96,000,000
150,338,940 150,075,447
INCOME
*
*Compari-
unchanged.—V.97,p.236,116.
Statistics.—The
ending Jane SO 1913.)
The income account and balance sheet of this Railroad
Company, which owns most of the stock of the Railway Com¬
pany and is itself controlled by the Rock Island Company
through ownership of the entire outstanding stock (see Rock
Island Company above.), is as follows:
Other
5X % in 1910-11.
dent, and J. C. Ford,
will be found on another page.
{Statement for Fiscal .Year
on
72,583
*3,743,272
figures having been
Company.
Coast
the report of
INCOME
stock-T96,900,000
Issued and held in treasury,
Chicago Rock
Div.
y
remain
but finai results
{Report for Fiscal Year
Extracts from
S
Common
Surplus
.
1911-12 and 1909-10.
marked is inaccurate, the
Pacific
1912.
$
Liabilities—■
owned—150,109,654 150,007,515
229,2S6
67,932
and held in
of items so
changed in later years,
ISLAND COMPANY JUNE 30.
Oash——
Total.......
$3,692,703
$409,459 def.$128,632
1912.
Assets—
Includes:
*3,743,760
*3,743,525
deductions—1$ 16,629,360 $15,780,653 $15^96,850 $14,493,132
$314,830
$106,636 $1,511,766 $1,004,609
Total
$43,913
3,229,120
Bal., surp., for year.
x
19,124
t/3,930,918
lines
Balance, surplus.*
$3,554,071
$3,301,872
bonds-..,..-
Stocks
—
Dividends
'
Expenses and taxes..$72,752
Int. on C. R. I. & P. RR.
Co.
—
(5)
25,983
$3,756,777
$3,591,677
.
Betterments, leased
son
15,330
(5)
24,236
<
30,773
income
Other
—$1,029,795
$727,245
*$185,477
*$223,232
income—*..—$16,944,190 $15,887,289 $16,908,616 $15,497,741
Peril»•
' ' ,:V' .i
Interest
-**.$11,066,032 $10,492,135 $9,741,853 $9,129,875
Rentals—
1,819,803
1,544,758
1,704,925. 1,547,402
Total—
Total
*5% in 1912-13,
1910-11.
*2,876,701
$ 15,160,044 *$ 16,723,139 *$ 15,274,509
def.$191,577def.$196,976def.$115,725def.$155,891
def.990,828def.l,273,768def.l,171,066
2,089.228
1,915,049 *1,574,970 *1,550,189
Other income
CO.
1911-12.
1912-13.
19,378,174
3,375,682
774,380
473,462
20,240,528
3,630,769
800,107
447,673
18,609,408
3,616,595
Maint. of way
adjustments.—V. 95,
1909-10.
1910-11.
1911-12.
$41,156,835 $43,368,396 $42,218,881
—$46,428,045
Mail and express
Miscellaneous
of the Inter-State
{Report for Fiscal Year
257
278
51.97
Passenger .*_*—**
$824,322; and also less credit of $209,100 to equipment from re¬
funds and $164,370 salvage from equipment dismantled.
6 This is the replacement value, less salvage, of line abandoned in course
of improvements, which was taken out of cost of properties under an order
newal and reserve
:
$2,380
$2,479
$2,486
1912-13.
Earnings—
Freight
expenses,
and $94,620 for miscellaneous
4718460,846 4567089,384
879,510,730 701,013,424
' 19,842,167 20,137,409
1010037,752 1016385,259
$0.0092
$0.0092
INCOME ACCOUNT.
and
and tracks
Includesin 1913, cost of properties, $80,218,512. and improvements
rehabilitation, $21,095,110, less value of equipment, buildings
destroyed or abandoned, which, less salvage, has been
to
charged
5,972,748
984
$0,201
&c.) —
No. of pass, per .train m_
Total earns, p. m. of rd*
104,006,923
Tot. Iiabilltiesl06,964,367
19,167,179
6,324,998
18,969,251
6,343,259
1,486
297
mail, express,
179,428
19,118,358
'
59.29
(rev.)
Tons per tr. p m. (co.)__
Earns, per pass. per. mile
Earns, per train m. (incl.
Tons per tr. p. m.
pay¬
39,380
3,814
1,073
40,798
4,419
$0.00S9
$2,651
mile.
train mile-
Earnings per
183,285
,
a
improvement mortgage
p. 1472.
1 in.,
Earns, per ton per
Miscellaneous..
2,165,900
2,212,567
250,297
Pass, carried
8,044
1,573
1,034
41,437
4,197
1599242,133
860,382,165
No. 19,412,671
18,927,146
No.983,696,182 939,391,981
$0.0089
carried,
Passengers
'
able July 15—
assets—106,964,337 104,005,923
Total
'
230,886
8,026
1,554
•
,
Freight cars—._**_—*
Service cars* - * * ** ** ** _
Operations—
Tons moved (rev.) , No. 21,101,989
Tons moved (co.), No..
6,671,134
Tons moved 1 m. (rev.) 5203973,087
Toris moved 1 m. (co.)_ 1038345,549
411,633
442,076
Accrued interest
pro¬
prietary COS—
Miscellaneous
Passenger cars
1909-10.
8,036
1,608
1,106
44,064
4,500
Locomotives
15,000,000
744,000
1,426,000
266,227
25,916
144,021
29,075
«268,682
599,804
10,668
32,953
era! security._
U. S.
43,600
820,921
Traffic
Bills receivable-
21,000,000
30,000,000
30,000,000
16,500,000
—
Equip, tr. note3..
Unpaid coupons
collat-
Loans on
*
bonds.-.—
1,523,141
stock
in
treasury (par)
Average
1910-11.
1911-12.
1912-13.
8,048
miles operated.
Equipment—
• v,
'
■
Refund. & impt.
209,399
Co.'a
_
1912.
21,000,000
Common, stock. 30,000,000
First mtge. bds. 30,000,000
393,784
-
def.
sur.
Preferred stock.
97,554,957
;•
def.
Liabilities—
8
Property aect.al00,115,841
Replace't val. of
6462,844
abandoned line
213,756
Agts. & conduc.
ci,715,836
Cash
•*
def.
1913.
1912.
1913.
def.
of the report,
The full text
30.
BALANCE SHEET JUNE
v
Year ending June 30 1912.)
\.
comparative balance sheet and
other data will be found on another page.
v
Below are a comparative income account and various
statistics from the annual report.
,
,
,
\
ROCK ISLAND SYSTEM—MILEAGE AND TRAFFIC STATISTICS.
{Report for Fiscal
20,821
2,537
5,747
33,300
38,532
1,283
def.
38,054
6,000
8,281
50,000
50,000
1,473
17,233
1911-12. 52,233
—
Balance.
def .$34,688
$38,676
$3,987
Ry* — 1912-13-$54,622
Arkansas Western
do
do
Int.,&c.
Island & Pacific Railway.
Chicago Rock
PROPERTIES OPERATED SEPARATELY.
SUBSID.
OPERATIONS OF
1019
CHRONICLE
THE
1913.]
OCT. 11
266,708
279,320
22,66?.474
22,556,310
23,285,954
THE
1913.
Liabilities—•
1912.
'■•■"''••"'•$
12,525,000
5,000,000
Vouchers and accounts
271,089
Wages and salaries
i
183,751
Dividend Aug. 1
184,063
Accrued interest on bonds
20,833
Taxes accrued
38,813
"Exhaustion fund" for coal lands
116,052
Special reserve fund.
125,000
Other reserves..
c260,411
Collections for traffic not yet earned.
70,766
Globe Navigation Co.
187,500
Employees* hospital fund
•
31,424
Traffic balances and miscellaneous._
214,762
Profit and loss.
3,438,010
12,525,000
5,000,000
Total
a
liabilities
37,824
168,358
125,000
220,441
65,047
250,000
29,818
165,927
■
3,371,241
22,667,474
22,556,310
serve
for
954.
made
'
it
seem
undesirable
to
New
stock
continue
to
carry
the
on
books
of the
England
Navigation Co.
at
the
premium
at
which
it
was
originally
acquired
that
company's
holding
of
New
Haven
snares.
This
difficulty
was
met * as
follows:
(a)
The
New
England Navigation Co. transferred
228,991 shares of this company's stock
to the N. Y. N. H. &
Hartford RR. Co.; this stock was entered on this
company's books as an asset at par and the
premium account on the books
was
charged with the premium on these shares
formerly credited.
(6)
Transfer was made to the New
England Navigation Co. of 400,000 shares
of the capital stock of the
Connecticut Co. and to the N. Y. N. H. &
Hartford RR.Co. of
23,520)4 pref. shares of the capital stock of the Rut¬
land RR. Co.
This transaction is reflected
Bonds and Notes.—The
on
Increases.-^5%
23,285,954
,
reserve
xcvii.
Connecting RR. (now building) and the
Pennsylvania tunnels and station in N. Y.
City.
Capital Stock.—The stock has been increased
by the issue of 4,339 shares
k*
exchange for $650,850 of 3)3 % convertible debenture certificates of 1906.
Of the total
authorized outstanding stock
($180,017,000), $22,899,100
is in the
treasury and $147,900 is owned by the Rhode
Island Co.
Exchange of Holdings .—The recent fall in the
market price of the
$40,000,000;
both sides of the balance sheet.
outstanding indebtedness of the company and its
leased lines in the hands of the
public has been increased $7,368,900. viz.:
"Prepaid accounts" include 1913 insurance paid in advance, $138,467;
taxes, $14,509, and rentals, $6,475.
c "Other reserves"
include in 1913
p.
245,106
147,652
184,063
20,833
[Vol.
South and West via the New
York
1911.
$
12,525,000
5,000,000
813,947
161,795
184,063
2 0,833
38,158
171,127
125,000
412,187
91,999
312,500
32,187
51,327
3,345,831
$
Stock (see "Ry. & Indus."
Section)..
First mortgage bonds.
CHRONICLE
»
for pilotage, $63,431, and re¬
notes (V.
95,
p.
1403),
4)3%
notes, $500,000; note to New Haven
City dated Jan. 20 1913,
without interest, $23,750
$40,523,750
decreases.—(a) 4% notes paid, $30,100,000; 4M % notes
improvements, replacements and inventories, $196,296.—V. 97,
—
Norfolk
(Statement for
Southern
paid.
$220,000; 4)3% notes paid, $1,000,000; convertible
deben¬
3)4s, exchanged for stock, $650,850; Winchester
Ave.
RR. 1st M. 5s paid,
$500,000; Roxbury Central Wharf Co.
1st M. 5% notes
paid, $290,000; 5-year 5% debenture notes
paid, $24,000; Branford Ltg. & Water Co. 1st cons.
5s paid,
$307,000; Branford Elec. Co. 1st M. 5s,
principal and inter¬
est to maturity
deposited with trustee—prin., $63,000; total-
RR.
ture
Year ending June 30 1913.)
"
1912-13.
1911-12.
1912-13.
; 1911-12.
Mileage operated.
834.46
829.61
Operating revenue $4,144,375 $3,738,821
Oper. expenses... 2,730,117
2,370,470
Other
Netoper.
Gross corp. income$l,577,142
Rents accd. of rd.
100,226
revenue
Outside oper. (net
$1,414,258 $1,368,351
Operating income_$l,299,172 $1,259,906
income
277,971
27,576
Int.
deficit).
11,426
8,795
accr. on
debt
Net
revenue
$1,402,831 $1,359,556
103,660
99,650
r-i
fund.
520,792
52,494
320,000
.:;; 507,366
Dividends, 2%...
Balance, surplus
$583,630
$346,997
i-.-i.
Other deductions.
Taxes accrued....
There will mature between Oct.
1
.
$1,287,482
97,026
Operating inc..$l,299,172 $1,259,906
To meet
these obligations and to provide funds
for the improvement of
property, including new equipment, an issue of
$67,552,000 of 6%
debentures (convertible into stock
between Oct. 1 1918 and Oct. 1
1928)
has been offered at
par to the shareholders and holders of
3)4% and 6%
convertible debentures, subject to
approval of issue by P. S. Comm. of Mass.
(V. 97, p. 237, 444, 521, 595, 729).
The capital stock of the Old
Colony RR. Co. has been increased by the
sale of 6,300 shares on account of
betterments.
Leases.—A lease, effective Sept. 1
1912, was made to Enfield Elec. Lt. &
Power Co. of the commercial
electric-lighting and water properties in Suffield, Conn., and Agawam, Mass.
Effective May 1 1913, a lease was made to the Shore
Line Elec. Ry. Co.
of the New London Division of
The Connecticut Co.,
extending from New
London to South
Coventry and from Moosup to West Thompson,
Conn.,
consisting of 104.9 miles of road, for 99 years, with
option to purchase
during the first 10 years.
The rental provided fot is
substantially the net
earnings of the property for the year preceding
May 1 last, and the purchase
price substantially the cost of the
property to The Connecticut Co.
Dividend on N. Y. Ontario & Western
Ry.—The business of this controlled
company the past year justified its declaring a dividend of
$6 a share upon
the pref. stock and $2 a share
upon the com. stock, yielding your
company
$583,464, which has been credited to the income of the
year (V. 96, p. 1773).
New York Connecting RR.—Construction on
this enterprise is
proceeding
actively.
The contracts already awarded cover 4.64
miles, including the
large bridge over the East River, the bridges across Little Hell Gate
and the
16,094
the
320,000
The above figures include the
operations of the steam division (569.11 miles in
562.13 miles in 1911-12), Raleigh Charlotte & Southern division
(218.64 miles, against 221.55) and electric
division (46.71 miles, against 45.93).—
V. 97, p. 50..
y y
V;./
1912-13, against
New
York
New
Haven
&
Hartford
Railroad.
(Report for Fiscal Year ending June 30 1913.)
Pres. Howard Elliott, New
Haven, Sept. 18, wrote in subst:
Results.—While the
earnings for the first few months were highly en¬
couraging, being the greatest in the history of the
company, the net results
a large decrease, due to heavier
operating expenses, which
reflect principally expenditures for
improvements to property and equip¬
ment
for the year show
and increased wages.
Three unfortunate accidents
1912;
(Westport. Oct.31
Stamford, June 12 1913, and North Haven, Sept. 2 1913—see V.
96,
1840), the continued investigations of the
company and the resulting
demoralization and expenditures, and the cost of
complying with Federal
and State regulations as to
equipment, made the year one of unusually
heavy outlays.
Much better gross earnings were expected; but were not
realized because of the restriction
placed on manufacturing and consump¬
tion by pending tariff legislation.
All of these conditions,made it
p.
8% to 7)4% per annum, those for the first
three-quarters being^at the rate of 8% and the last quarter
6% per annum.
Acquisitions.—The past year marks the completion of a
period in which
your management deemed it essential for the
protection and enlargement
of its business, and to serve
effectively the public, to acquire an interest in
various transportation lines
serving the territory in which your railroad is
locatedi
These acquisitions, in the opinion of the
board, were legally
made and were for the best interests of
the company and the public, but
your company has no dasire to retain these investments
except in conformity
with law and sound public
policy.
During the same period the company
was also confronted
by very large re-construction outlays for the electrifi¬
cation of the important section of
the system terminating in Grand Central
Station, N. Y. City, for
new
Outlook.—The company
a
equipment and facilities, heavier bridges, &c.
owns and operates a
very valuable
well-established railroad in
traffic-producing territory, and the shareholders have every
reason to retain their
confidence in its earning
capacity.
Electrical department.—Electrification has been
completed at Oak Point
and Westchester
Yards, is practically completed at Harlem River Yard
and will soon be completed at the Van Nest Yard.
The electrical shops at
Van Nest are practically
completed.
The elimination of electro-magnetic
induction on foreign wires in the electric zone
has been pushed as rapidly
as
possible, and it is expected that the new system of electric power distri¬
bution will be inaugurated
early in 1914.
The work of
electrifying the main line tracks from Stamford to New
Haven is being actively
prosecuted, having been seriously delayed on ac¬
count of strike, &c., and it is
hoped that electric operation between Stam¬
ford and New Haven will
begin early in 1914.
Other Improvements .—The
installation of four additional generators
in the Cos Cob power
plant, making a total of eight, is complete except some
minor details.
The Hawleyville-Shelton
double-tracking has been com¬
pleted, providing a double-track railroad from
Naugatuck Junction to
Hopewell Junction, 68.44 miles.
The Berkshire Junction-New Milford
double-tracking is complete from Berkshire Junction
to Brookfield Junc¬
tion, and the entire work will, doubtless, be finished before the
close of 1913.
The
four-span reinforced concrete bridge at Ansonia has been completed.
At New Haven the excavation for
change of alignment, &c., in connection
with the proposed New Haven station has
been completed, while at Cedar
Hill the total yard
capacity has been increased to 1,511 cars.
The filling
of Lyman Viaduct on the
Air Line Division, to obtain a double-track
road¬
bed, is now about 60% completed.
The improvement of facilities at
Westerly, R. I., is substantially complete.
The double-tracking, &c., on
Sortions of the Providence-Fall River concluded. the East Providence-East
line and on Extensive
unction line have been
successfully
improvements
have been completed at Worcester
and others are in progress at Pawtucket
and Central Falls.
Surveys for third and fourth
of grade
crossings,
Six grade
crossings
tracks
and
elimination
East Junction-Readville, are substantially
complete.
eliminated.
[Total "additions and
were
improvements",
$5,129,010, of which $328,558
for real estate, $1,580,397 for GlenbrookNpW Haven electrification and
$467,268 for Cos Cob power-plant.]
Crossovers.—An exhaustive study has been made with the view of
substi¬
tuting long crossovers at all detouring points for fast
trains, the total cost
of the work
being estimated at $711,939.
Crossovers having No. 20
frogs
have been completed at
important points and the work of installing
long
crossovers is to be continued
wherever operating conditions
require.
Ties.—Total number laid, 1,984,656, increase over
20%; total number
creosoted and provided with tie
plates and screw spikes, laid between New
Haven and Woodlawn and on Harlem
River branch, 123,672,inc.
over80%.
Rail.—Laid in main tracks, in maintenance and
construction, 13,241 tons
of 100-lb. rail
(increase 60%); also 4,792 tons of 80 and 78-lb. and
6,228
tons of 68 and 90-lb.
re-rolled rail.
Equipment.—New equipment
33
.
o
to value of
$4,268,385,
an
increase
•
of
nearly
$1,239,952.]
New equipment
ordered, deliverable during 1913-14: 170 steel cars for
passenger-train service; 17 steel motor cars; 26 steel
trailer cars; 16 steel
underframe cars, <fcc.
Also for Central New England
Ry. Co., 8 cars for
passenger service and for Connecticut Co. 5
Pullman Contract.—Effective Jan. 1
1913,
Into with the Pullman Co. to furnish
multiple dump
cars.
a 20-year contract was entered
and operate all parlor and
sleeping
cars at a stated rate
per annum for each car.
Under the agreement the
Pullman Co. has paid the railroad
substantially the book value of all our
parlor and sleeping cars and has agreed to substitute for
the existing equip¬
ment the highest
type of all steel modern cars, and to furnish such
similar
as may be needed in the future.
This agreement has relieved
of a capital
expenditure of about $4,000,000 for prospective new
equip¬
ment, and has brought into the
treasury $3,300,000 for the old equipment.
The Pullman service also
facilitates the through service with
connecting
lines, and, prospectively, with the
Pennsylvania RR. to and from, the
the viaducts
across
Ward's and
Randall's islands.
The
remaining portion between Bowery Bay Road and Fresh Pond
Junction,
connecting with the Long Island RR., 4.32 miles, will not be
placed under
contract untilnext year.
The N. Y. Connecting RR. sold
$7,000,000 3-months' 5% notes, matur¬
ing Nov. 21 1913', guar. prin. and int. by your
company and the Pennsyl¬
vania RR.
The N. Y. P. S. Commission has also been asked
to sanction
(a) the issuance and sale of $11,000,600 1st M. 4)4 %
bonds, prin. and int.
guar, by your company and the
Pennsylvania RR.;
(6) $10,000,000 of
3-year 4)4 % notes to be sold if the company finds it difficult to obtain a
The notes will be guar., p. & i.,
by the foregoing
companies, and secured by pledge of the $11,000,000 1st M. bonds.
The
proceeds from the sale of the 4 )3 % notes or bonds are to be used to
pay off
the 5% notes referred to and for construction and real estate
expenditures.
Omission of B. & M.
Dividend—Deficit of Boston Railroad Holding Co.—
The unfavorable business conditions and the
increased cost of operation,
due largely to the increase of wages and extensive
re-construction work,
made it necessary for the Boston & Maine RR: to
pass the dividend upon
fair price for the bonds.
its
common stock that would
ordinarily have been paid on July 1 1913. The dividends received on the Boston & Maine
stock, with available cash
hand, were insufficient for the year, by $503,268, to pay taxes, adminis¬
tration expenses and the dividend of 4% upon the
pref. shares of tbe Boston
RR. Holding Co., which amount was
provided by your company under its
guaranty.
The income accruing as a 4% dividend on the pref. shares of
the Holding Co. owned by your
company was $979,756,' which was reduced
on
by this payment of $503,268, leaving the net credit to the income for the
$476,487, to represent the return upon your company's investment in
the Boston & Maine through its
ownership in the. Holding Co.
The reduc¬
tion of the dividend on the common stock of the Boston &
Maine RR. from
year
4 to 3% resulted in a reduction of $219,189 in the income of the
Holding Co.
company owns of the capital 5tock of the Holding Co. all of the
$3,106,500 common stock and $24,493,900 pref. stock out of a total of
$27,293,900.
The Holding Co.'s investment in Boston & Maine consists
of $21,918,900 common stock out of
$39,505,000, and of $654,300 pref. stock
out of $3,149,800.
T
'
"
Boston & Albany RR.—Under the agreement with the N. Y. Central to
share equally in the net results of the Boston & Albany
RR., there has been
a surplus of $42,581 for the 12 months
ending June 30 1913. - An agreement
has been made for the acquisition of a one-half interest in certain
equipment
provided by the Central Co. for use on the B. & A. RR. under "Boston &
Albany Equipment Trust of 1912," whereby all advances are to be re-paid
Your
„
out of B. & A. income.
ment thus far
The total cost of
our
„
_
one-half interest in this
equip¬
provided for is about $3,000,000 (V. 95,
p.
1039, 1332).
Grand Central Terminal.—In the utilization of the aerial
rights and of the
adjacent surplus real estate at the GraYid Central Terminal in N. Y. through
construction of buildings for commercial purposes in conjunction with
the
N. Y. Central, yoiir company has expended during the
year $1,254,070;
the
total of such expenditures
to June 30 1913 is $2,524,971.
These builds
ings
are Covered by leases on satisfactory terms.
In addition, we have
advanced $1,310,000 to the N. Y. Central on account of the office
building
located at the Terminal, which is to be repaid with interest in annual in¬
stallments extending over a period of 25 years; $52,400 has thus been
re-paid.
New York Westchester & Boston Ry.—This controlled
company has
shown
a
satisfactory increase month by month and is now handling at the rate of
3,000,000 passengers per year.* Freight service has been inaugurated and
the Adams Express Co. has obtained the express privilege over the
line;
these sources should yield considerable revenue during 1913-14.
A
change of route of the extension between New Rochelle and Port
a location along the N. Y. N. H. & H. RR.
right-of-way repre¬
a saving in
cost of construction of over $1,500,000.
Negotiations
Chester to
sents
have also been concluded with the P. S. Commission for the sale to N. Y.
City of the right-of-way for the connection between the Lenox Ave. subway
Y. Westchester & Boston Ry. at 180th St.
This connection
and the N.
1-3%, was purchased, viz.: 33 electric and 81 steam
locomotives, 50
steel coaches, 2 steel
dining cars, 1 steel mail car, 2 steam shovels, 1 derrick
and 1 steel car
float, &c.
[Equipment sold or put out of service represented
$5,508,337, making net decrease of equipment account
equipment
us
Bronx Kills and
necessary
to reduce the dividends from
33,154,850
1913 and Oct. 1 1914 the
following obligations, for which we are
responsible: Dec. 1
1913, 5% One-Year notes,
$40,000,000; Feb. 1 1914, 4%
non-convertible debentures,
$5,000,000; June 1 1914, New
Havfen St. Ry. 5%
consols, $250,000; total
—$45,250,000
will
be built and operated (possibly within a year) by the
Interborough
Co., representing a saving to the Westchester Co. of $1,000,000 and
now
R. T.
the cost of operation.
,
Completion of the Lexington Ave. subway, now under way, will probably
The third-tracking of the 2d and 3d Ave. Elevated
also operated by the Interborough R. T. Co., will
probably begin shortly.
The earning power of the N. Y. Westchester &
Boston Ry. Co. cannot be fully demonstrated until these various connec¬
tions are completed.
The charge to our income account for the fiscal year by reason of the
guaranty of the interest on the bonds of the Westchester Co. was $777,750;
a further sum of $357,107 represents
inerest on bonds and notes held by
take about 3 years.
lines in N. Y. City,
,
the New Haven Co. and
on
advances made by it, which, on account oLthe
inability of the Westchester Co. to pay, has not been credited to our income
acdbunt; nor has any credit been taken therein for accrued interest amount¬
ing to $176,803 on notes of the Millbrook Co. held by the New Haven Co.
The Millbrook Co. owns a large amount of surplus, real estate
purchased
originally for the Westchester line; as fast as this real estate is sold, the
proceeds will be available on note for $3.fl$6,062 held by the New Haven
Co. and to interest thereon amounting June 30 1913 to
$324,139.
.
allowances for
Y. N. H. & H. RR. CO.
Bal. sheet 1912 is rearranged to
Com¬
pare New England Nav. Co. table at end of entire statement.]
(1) Securities of Proprietary, Affiliated and Controlled Companies.
Stocks—(unless otherJune 30 1913
June 30 1912
Terminal Co—_
Boston
$1,582,443
,200,000
_______
Common
•
;
Connecticut Company-.
Ilarlem
River & Port ..
Chester RR. Co.—1,000,000
Notes
W. RR.
do
do
Hartf. & Conn.
do
do
N.Y. Connect.
do
,do
—
,
—
Notes
RR. Co.
Notes
1,500,000
'
,
1
97,100
9,183,200
486,700
100
749,500
9,685,500
Rhode Island Co.
100
955,100
650,000
500,000
——
Misc. notes, adv.,
&c__
20,016
_—
$6,371,396
27,600,400
100,000
56,917,399
$5,398,100
27,600,400
100,000
England Nav. Co. 53,000,000
New
Notes
do
do
500,000
53,000,000
9,685,500
Company
advan.
650,000
915,675
Vermont
Wastch. St. RR
MiscellaneousTotal.
.
,
accts._
Loans &
bills rec
12,275,430
1,983,355
1,698,666
746,406
Sink. &c., funds
18,192
Prepaid ins.,<fcc,
8,529,482
Advances, &c_.
Other def. debit
4,115,539
items..
fund.
Insurance
Accldent fund..
gen.
Total...
possible credits to
c
::+V' '/■'
-
•
Except N. Y.
§os. RR. Hold. pref.stk
.Y.W.«feB.lst.M.4Ms.
2,000,000
Stamf. Ry. Co.
4% 1st & ref. M. bds.
Sq. Theatre Co.,
Inc., 5% 2d M. bonds
Verm. Co. 1st M. bonds
do
do
Notes
Securities.
$200,000
2,000,000
678,000
'
24,493,900 24,493,900
800,000
800,000
"
.Miscellaneous-
—-
AND
OPERATIONS
1912-13.
.
Miles operated June
30.
Equipment—
Locomotives
-
'
2,092
1,244
.
1,227
1,220
Passenger cars.
2,354
2,528
2,522
Freight cars..1.
38,053
38,441
35,716
Other cars
1,210
1,178
1,179
Operations—Revenue passenger and freight only.
Passengers carried
•, 86,813,807
84,534,214 83,193,164 82,905,137
Pass, carried one mile-1.605,902,772 1558915,723 1534301,064 1506907,990
Rate per pass, per mile.
1.737 cts.
1.720 cts.
1.708 cts.
1.651 cts.
Freight (tons) carried— 26,266,327
24,675,469 23,257,041 22,738,981
Fgt. (tons) carried 1 m.2532746.840 ?343040,109 2181557,124 2124680,965
Rate per ton per mile
1.345 cts. ' 1.351 cts.
1.390 cts.
1.417 cts.
Pass.earn.per m.of road.
- $15,730
$15,063
$15,046
$14,538
Pass. earn, per train m_
y
$1.90
$1.87
$1.86
$1.85
Fgt. earn. perm, of road
$16,815
$15,634
$15,131
$14,988
Fgt. earn, per train mile
$3.91
$4.03
$4.03
$4.16
Av.No.pass.per train m.
95
95
95
96
Av.No.tons per train m.
291
292
290
293
Earnings—
$
$
$
$
Freight-.1
34,071,975 31,654,186
.
-
'
$27,643,783
RESULTS (ROAD PROPER.)
1911-12.
1910-11.
1909-10.
2,091
2,041
2,042
'$4,528,313
FISCAL
Other than
1,349
2,361
36,185
1,221
27,896,300
1.
Passenger
Other transp'n revenue.
transport'n.
4,776,865
1,868,363
Electric power
Gas-
Water—,...
—
Expenses—
• ■ ■
Maint. of way & struc...
Maint. of equipment
68,613,503
y
..
'
7,893,090
9,600,669
582,310
27,203,271
Transportation
1,947,999
General
6,745,883 *6,980,036 . *7,132,376
7,983,858 *7,193,425 *6,461,772
412,880
.351,999
350,943
24,833,727 *24,526,959 *22,942,675
1,650,965
1,846,213
1,801,450
— —
Net Connecticut Co....
Total net revenue....
Taxes....
*
22,031,611
3,714,756
18,316,855
6,487,517
Interest on bonds241,344
Miscellaneous income..
2,385,758
Rents received.
502,317
Balance
Dividends on stocks
24,217,202
3.719,548
Sink., &c., reserve funds
22,654,595
*3,578,363
25,567,200
*3,983,377
*21,583,823
3,504,569
887,104
2,012,294
332,125
409,802
1,055
20,497,654 *19,076,232
6.565,241
5,487,150
217,065
1,092,972
2,419,523
1,832,316
445,570
, 356,688
230,631
216,218
472,409
183,300
28,380,640
Hire of equipment
o2,254,278
30,800,762
28,320,970
Deduct—
deb., &c_ 11,029,129
10,478,744 10,710,389
Rentals of leased lines..
4,545,794
4,474,347
4,478,324
Rentals other than above
2,391,143
2,182,520
1,874,135
Dividends
(7H%) 13,486,563(8)14315,540(8)12454,852
Int. on bonds,
Separately oper. prop's.
Miscellaneous
*1,238,438
253,899
W
Total.
-
Balance for year...._
—' 32,944,966
_def.4,564,326
166,901
112,699
5,000
10,677,459
5,133,717
1,702,430
(8)9,759,081
—---
31,730,751 29,522,700. 27,283,177
def .929,989 def1,267,540sur1,037,793
13,160,164
Other interest.
Other rentals
Miscellaneous
Dividends.
...
.
2,934,191
283,450
—.11,787,030 12,609,668
Total
deduct'ns.34,181,368 32,150,279
Balance
_def.4,127,633sur.305,835
steamships and
electric roads, street railways,
owned and operated by or for the
RR., with inter-company transac¬
credits eliminated.
and
SYSTEM.
/
Affiliated and Controlled Companies.
BY COMBINED
Securities of Proprietary,
(a)
Par Value. Book Value.
$
.
$
RR.
524,600
1,582,443
Par Value.
Stocks (unless otherwise indicated):.
Bos. & Prov.
..24,493,900 24,493,900
3,106,500
3,106,500
Term. Co.
200,000
200,000
Preferred
Boston
1,500,000
2,000,000
N.
97,100
219,038
9,813,200 13,065,342
486,700
730,213
pref.
•
100
220
do
do
Wore.RR.
955,100
2,738,763
Rutland RR*,pref.
2,352,050
2,078,300
963,500
2,364,977
2,188,751
228,721
Prov. &
United Tr.&El.Co.
Miscellaneous
Y. Ont. & W.
'
.
(b) Marketable
,
Eastern SS.
140,000
150,000
151,398
Shearer Realty Tr.
notes
Inv.
3,250,000
3,250,000
3,309,000" 3,231,750
1913.
,
56,405,578
71,042,534
1913.
& supp.
3,326,334
7,830,965
accounts.
3,708,654
1,033,541
8,313,362
4,622,063
28,417,437
47,322,270
5,021,520
3,564,156
5,145,373
5,307,959
Accr.int.,div.,&c.
Temp. advs.,&c.
1,316,000
1,027,856
17,763,992
15,176,460
cos
prop..
Marketable sees.
15,187,346
22,374,414
Loans & bills rec
90,753
Agts. & conduc.
Cash
Sinking
659,660
equip.
2,610,000
45,641,750
Traffic, &c., bals
2,607,944
Vouch. & wages.
7,621,290
4,752,394
1,241,189
2,819,680
203,319
3,970,069
Int.,divs.,&c.due
accounts.
Accrued int., Ac
Accrued taxes._
Oper. reserves..
Other def. credit
240,710
3,339,512
22,154
4,165,058
278,011
528,442
2,859,064
443,689
8,939,020
8,372,385
10,823,747
14,900,609
items
.
Def. llabil. acct.
Other def. debit
4,900,151
items
net assets.Conn
626,287
Ry. &Ltg. Co
Profit and loss..
c
34,533,000
3,453,621
5,806,421
5,400,335
1,100,810 Equip.&personal
prop'y leased
1,089,464
funds) 4,781,083
Accident fund..
Total.
242,053,042
for
Loans & bills pay
Misc.
$
Approp. surplus
640,652
funds._)
Insurance
(half)
B. & A.
1912. ,•
176,300,023 177,726,200
Capital stock
Mtge., bonded&
secured debt.c259,539,492
2,164,442
&c.,
Misc. securities.
$
Liabilities—
Liab.
prop.,
Physical
22,374,414
Total
$
Securs. of prop.,
cos
106,000
2,078,238
BALANCE SHEET JUNE 30.
equip..364,249,985 328,233,648
to
200,000
106,000
10,400,000 10,400,000
Miscellaneous
1912.
$
320,000
320,000
i__
Billard Co. notes.
&
"
&c.,
...
2,437,500 U,.Tr.&El.lstM.5s
COMBINED GENERAL
Adv.
—
2,500,000
M. & M. Transp.
Road &
;
Co. notes
Corp.
Co. 4% debs...
Book Value.
Park
Lt.Co
4]^s-.
1st M. 5s
Eng.
Par Value.
Sq. Theatre,
Inc., 2d M. 5%
58,525
141,003
60,000
bonds
do
71,042,534
....
$
5
Conn. Ry.&
Securities.
Value.
Par Value. Book
stk.
City of N. Y.
New
Total.........
common..29,160,000 13,105,186
Ry.,
::
Prov .W .&B. ,com_
300,000
1,201,064
2,524,500
1,527,204
1,748,200
M.& M.Trans.Co. 2,531,700
N. Y. Connec.RR. 1,500,000
.....
Old Colony RR...
1,462,500
com.
Hartf. &<C.W.RR.
$
3,212
2,200
Ry., preferred..
Nor. & Wore. RR*
.
Co.,pref.
East. SS.
■
N. W. Ont. & W.
Bos.RR.Hold.Co.,
Common
Book Value.
$
10,490
Separately operated properties include in 1912-13 guaranties for Boston
RR. Holding Co., $503,268, and N. Y. Westchester & Boston Ry. guaranty
(bond int.), $777,750, less Boston & Albany RR. operating guaranties
(credit), $42,581.
•
.
w ♦
5,062,527
3,310,495
2,665,307
4,627,273
1,298,731
2,197,014
379,263
bonds
Int. on debens
SECURITIES HELD
Mater.
-
28,255,160
on
Int. on conv. deb.
1,383,449
tions both as to debits
Misc.
Total net income
Int.
6,016,533
Rentals leased rds.
175,952
15,432
Note.—Includes steam and
*40,898,633 *38,689,216
(65.80)
(63.74)
21,254,802 22,004,452
1,399,793
1,308,470
—
619,055
641,061
Sec. Co. notes..
47,227,339
41,627,312
P. C. of exp. to earnings:
(68.83)(64.58)
Net earnings—
21,386,164
22,829,047
Net rev. outside bper'ns
645,447
1,388,155
Total
income—30,053,735 32,456,114
Deductions—
204,417
other public utility companies wholly
account of the N. Y. N. H. & Hartford
1st & ref.
.
Traffic
*60,693,668
Total
1,955,855
30,137,010 32,617,722
operations.
Total net rev
•
64*456.359 *62.153,435
$
25,074,326 27,668,627
4,979,409
4,787,487
Oper. income..,
Other income
Net rev. from out¬
side
1911-12.
4,949,095
32, e
5,062,684
825,595
29,495,949 31,234,273
do
Total..
representing
$
90,641,905
Operating expense.65,694,517 59,407,632
26,816,435)*62,153,435 *60.693,668
4,412,3291
1,573,408]
corresponding assets
1912-13.
Total revenue. .95,190,466
846,000
...
90,609
consists of road and equipment,
depreciation of floating equipment.
Accrued taxes
698,418
3,240,383
698,947
3,343,549
2,246,064
2,308,543
48,430
370,894
382,306
11,185
Electric light
.
846,500
—59,500
5Q1.933
87,609
1,243,883
...
Total.....
...
-
.
320,000
846,500 \
320,000
846,000
—
599,880
Total.......490,405,059 495,744,855
$
a
Express
Other transp. rev.
Other than transp.
N. Y. &
Park
c528,442
7,916,557
41,134,782 38,974,456
44,645,766 43,932,342
Mail
$200,000
$200,000
3,226,383
3,682,021
2,575,534
c443,689
12,575,471
1911-12.
$
Passenger
$202,650
$200,000
5,473,397
3,037,967
3,344,277
64,964,728
Statistics of Combined Properties.
N. Y. N. H. & HARTFORD RR. SYSTEM.
Ont. & West. Ry., Boston & Maine RR. and Maine Cent. RR,
Freight
——
3,948,688
—_
in 1913 ($192,229,190)
1912-13.
$23,132,450
(4) Marketable
•
due
income account,
Revenue—
-
5s
Berkshire St.Ry. deb.
Acer, int., divs.,
Appropriated surplus represents
;
202,(>50
...
—.
Int., divs., &c.,
2,775.472
9,208,672
3,311,971
4,351,641
33,395,000
64,783
INCOME ACCOUNT OF
$69,746,299
202,650
474,804
Connecticut Ry. & Lighting Co. sinking fund.
Note.—Contingent Liabilities.—The contingent liabilities not included in
the
balance sheet of June 30 1913 (Include in addition to the joint liability with other
roads and the guaranties of principal, interest and dividends on other securities
mentioned in V. 93, p. 868) the guaranty of principal and interest of the 4^%
1st M. gold bonds of the New York Westchester & Boston Ry. dated July 1 1911*
$17,200,000, and the joint liability with New York Central & Hudson River RR. for
any deficit in operation of the Boston & Albany RR.
25,978
233,350
60,876,000
-
5,432,993
$192,612,976; less $383,786 reserved for accrued
b Deferred credit items are reserves against
_.
233,350
—
'
490,405,059 495,744,855
Road and equipment
a
RR.
mtge. 4s, &c
ad vs.' ree'd for
>
•
2,930,358
construe., &c
474,804
976,730
292,619 Liab. (half) for
B. <fe A. equip.
2,610,000
4,982,685
49,478,427 Equip. & pers'l
property leased
9,389,683
25,366,051
2,836,894
1,983,355 Traffic,&c.,bals_
6,402,200
1,698,666 Vouch. & wages
640,652 Loans&bills pay. 42,598,750
207,731
9,939 Mlscell. accts
Profit and loss..
Assumed, Held in Treasury.
H.RR.stk..$22,899,100 $22,899,100
See text above.
N. Y Prov. & Bos.
143,065,450 143,716,300
Approp. surplus
........
——
_—_
Oper. reserves..
Def. cred. items
(3) Securities Issued or
N.Y.N.H.&
assumed.
&c
Total
32,786,089
roads,
.
Cash
1,775,000
-
571,164
915,675
21,478
.—$123,702,443
—
Mlscell.
—
....
24,352,336
33,600
...
—
912,498
1,660,247
234,065
5,489,585
51,919,344
56,917,399
7,921,422
6,241,952
Rhode Island Co. notes.
merged
6,162,501
3,034,849
3,106,500
610,643
4,924,900
conduc.
Acc.int.,div.,<fcc.
Traffic,&c.,bals.
Agts. &
...
3,106,500
....
—
Co.
N. W. Westch. & Boston
Ry. Co. stock & scrip
N. Y. & Stamf. Ry.
1,104,731
8,343,680
cos
•
Mtge. bds., incl.
123,702,443 162,372,443
merged
roads,,
202,650
Securs. in treas. 23,132,450
assumed...-.- 59,779,000
2,185,601
Marketable see's
4,528,313
for
3,544,315 Obligations
Material & supp
5,980,491
'-y,.
(2) Miscellaneous Investments.
Berkshire St. Ry.Co...
Boston RR. Holding Co.
Millbrook Company...
&c.,
prop..
Mlscell. Invests.
19,282,888
stock sold
Debs., &c., incl.
prop.,
Physical
—$151,741,668
$39,678,602
—
to
$
Capital stock... 180,017,000 179,583,100
Prem. on capital
35,367,601
39,678,601
cos
1912.
$
Liabilities—
$
equip.al92,229,190 188,429,299
...
—
Total book value
&c.,
Adv.
571,164
2,280,012
2,364,977
2,352,050
Co
Company
1913.
1912.
-
Q——•
Securs. of prop.,
6,241,952
5,708,000
219,038
11,959,482
730,213
220
2,154,532
24,352,336
4,924,800
219,038
13,065,342.
730,213
220
2,738,763
97,100
9,813,200
486,700
Norwich&Worc.RR.CoOld Colony RR. Co
Prov. Wor.&Br.RR.,com
do
do
prefProv. & Wore. RR. Co.
A
Road &
13,108,398
29,162,200
Notes
do
Rutland RR.
13.108,398
29,162,200
($2,200 pref.)
N.Y.Westc.&Bos.Ry.Co.
Vermont
-
West. Ry.
N. Y. Ont. &
do
1,458,325
200,000
2,040,000
4,751,150
791,441;
3,702,800
1,000,471
40,000,000 40,000,000
. '
■
'
1,000,000
T,000,000
1,000,000
25,531,823
1,201,064
1,741,900
1,198,261
*
100,000
100,000
• ___
3,536,063
1,527,204 ' 1,500,000
1,527,204
991,337
1,748,200
./
Company—_
Millbrook
BALANCE SHEET JUNE 30.
$5,041,396
482,600
200,000
marked are inaccurate, comparison being changed in later
the general results for the year, however, remaining unchanged.
Figures so
.y';•1913.
QQfif
5R
4,794,700
868,806
3,736,800
1,052,118
[See last table of all]
—
Preferred
$4,068,100
—_
Eng.Ry.Co.:
Cent. New
*
years,
Par Value. Book Value.
Book Value.
$524,600
200,000
indicated):
Berkshire St. Ry. Co
do
do
Notes
Bost. & Prov. RR. Corp
wise
purposes
30 1912 we give as shown last year.
Par Value.
'
arbitrary
ruling of
Commission, the 1912 figures being changed for
of comparison.
Inter-State Commerce
above.
[$ee "Exchange of Holdings"
correspond, but holdings of June
1913 operating revenues and expenses exclude
hauling company freight used in operation under
Note.—The
Proper.
Statistics of Road
SECURITIES HELD BY N.
1021
CHRONICLE
THE
1913.]
OCT. 11
527,876,376 503,942,087
Includes in 1913 mortgage
in treasury of companies
$2,430,350 in treasury of
Total
...527,876,376 503,942,087
000, less $14,122,608
$167,439,450debentures issued less
bonds issued, $108,653
in system and
companies in system.
1023
THE
INVESTMENTS OF
THE
NEW ENGLAND
Par Value.
Book Val;
$
$
Connecticut Co ..40,000,000
40,000,000
Eapt. S. S.
...
Common
Hartf.
&
N.
&
Merch.
&
Gravel.
S
Miners'
1912.
deb's.
2,524,500
& deb. ctfs.
3,231,750
1,431,000
Prov. & Dan. By,
1st & ret. M. 5s.
1,600,750
600,000
3,000,000
2,812,400
3,000,000 Sea View RR. 1st
Common
M. 5s. 1
100,000
Misc, stocks.....
408,437 Misc, bonds, &c._
Billard Co. notes.
10,400,000 10,400,000
Eastern SS. Corp.
1st M. 5s...... 2,500,000
Total
2,437,500
433,843
600,000'
584,699
186,654
...
........
~
84,445,529
*
$3,000,000 of New England Investment &
Security Co. gold notes are
pledged as collateral for a loan of $1,900,000 made by the New
England
Navigation Co.—V. 97, p. 803 729.
,
Missouri Pacific
greatest increases in ton¬
nage were contributed by products of
mines, products of agriculture and
products of forests.
The revenue from
transportation of passengers was
$11,627,481, an increase of 9.05%;
passengers one mile increased
same.
The properties suffered
8.42%,
(2.32c.) remained sub¬
repetition of the floods of the previous year,
on portions of the lines,
principally in Arkan¬
contributed to the increase of
6.91% in the
expenditures under maintenance of
way and
a
although to much less extent,
and
Louisiana.
This
structures, although primarily
improvements; all items
having gratifyingly progressed.
The total
charges per mile of road aggregated more
than $1,276.
All classes of
equipment required very heavy repairs or
re-construction,
a large
proportion of the excess over the previous
year being incident to
the increased volume of
traffic.
When applied to the
equipment owned
July 1 1912, the expenditures equaled
per locomotive, $3,437 per passenger
train car,
$1,241, and per freight car, $90,
decidedly raising the average
condition.
the excess charges went to the
further upkeep and
of work in connection
therewith
'
*
Funded Debt.—The
following changes
Amounts in Hands of Public—
Funded debt increased
j
COMPANIES
PACIFIC PRIOR
operated, average
Operations—
Passengers carried
Pass, carried
40-39
43.32
OF
Tol.Bal.
Unball.
5,115.40 2,216.84
5,015.73 2,230.74
SOUTHERN (INCLUDING
PRESENT MISSOURI
TO AUGUST 9
1912-13.
Miles
1911-12.
7,257
,
1909.)
1910-11.
7,231
1909-10.
7,235
6,775
,
12,520,830
11,825,687
one
.12,224,723
11,387,040
19,485,422-
20,190,184
mile__502,112,957 463,119,912 488,320,059
459,783,738
Fgt. (tons) earned (rev.)
23,310,266
do
20,139,122
carried 1 mile
(rev.)5668404076 4794367,947 4392415,679
4696378,607
No. rev. tons per tr.
m__
Earns, per fgt. train
m__
Earns, per pass, train m.
Gross earns, per m. road
373.29
332.90
$3.01275
$1.10737
$8,505
$- ■ •
45,748,269
11,827,110
1,450,608
Earnings—
From freight
From passengers
'
*
_
—
_
443,311
1,087,673
969,808
954,312
54,503,250
52,776,593
53.019,137
8,664,769
8,321,787
21,268,314
1,358,014
1,667,708
8.984,132
8,000,104
7,687,429
18,889,986
1,368,745
1,601,107
17,512,754
InterestMiscellaneous
8,283,521
22,745,409
1,410,780
1,906,095
13,130,432
998,580
477,240
14,408,125
66,076
T___
38,201,784
10,360,306
1,445,254
10,883,787
2,246,645
882,750
746,367
13,436,314
Operating income
Misc. inc., divs.,int.,&c.
Equip, rents, deb; bal__
$7,295
1,374,454
891,225
435,158
934,168
484,046
15,049,155
2,463,599
Taxes accrued
____
293.8
$2.39051
$1.11303
$7,82$
$
37,629,213
11,089,674
1,431,554
1,178,619
1,004,222
41,280,592
earns
Outside oper.—net def_
Total..
Balance
$2.49147
$1.12291
44,698,997
(71.91)
17,456,509
93,005
2,314,349
_
Ratio oper. exp. to
Net earnings
Total
Deduct—
Rent-
$2.74374
$1.06712
$7,538
$
Total earnings
62,155,506
Expenses—
Maintenance of way, &c.
9,263,360
Maintenance of equip..
9,860,188
Transportation
22,528,447
Traffic
1,425,168
General.1,621,834
Total expenses
290.8
39,514,356
10,858,449
1,429,608
1,711,305
Other than from
transp.
Pres. B. P. Bush,
Sept. 10 1913, wrote in substance:
while the average revenue
per passenger per mile
Chatts. Stone Dust.
1,624.00
1,511.41
1,227.51
AND FISCAL RESULTS
OF MISSOURI PACIFIC
AND
IRON MOUNTAIN &
From express
From miscellaneous
Operations.—The revenues from
freight, from passenger and all other
operating sources each exceeded any previous record of
the property, the
total operating revenues
being $62,155,506, representing an increase of
14.04% over the previous year and equaling $8,565
per mile of road operated
(average).
The revenue from
freight traffic increased $6,233i913, or
15.78%, while the accumulated ton mileage increased
18.23%, the average
haul being 243.17
miles, an increase of 5.11 m,iles.
Average revenue per
ton per mile,
8.07*mills; decrease, 2.06%.
The
sas
LOWS
PREDECESSOR
From mails
Railway.
(Report for Fiscal Year ending June 30 1913.)
stantially the
ST-
,
9,000,000
xcvii.
Unballasted Tracks June 30 (Total
System).
Cinders.
1.945.50 287.99
3,250,000
Sec. Co. notes.. 3,309,000
New Eng. SS. Co,
2,538,917
5% bonds
9,000,000
2,985,978 N. Y. N. H. & H. '
Miners'
Transp. Co
2,531,700
New Eng. SS. Co.—
3,250,000
and
Rock.
1913----.1,860.54 268,89 1,321.58
•
Tr.Co. 4% debs.
♦New Eng. Inv. &
[Vol.
Mileage of Ballasted
Book Val.
$
1,600,0001' 1,462,500
2,000,000 300,000
Y....
Preferred..,
Value.
CO.
J
Transp. Co
2,500,000
H'satonlc Pow.Co, 3,000,000
Merch.
NAVIGATION
Par
Corp.—
Preferred
CHRONICLE
43,329,937
(82.10)
(75.74)
13,222,658
37,547,372
(70.82)
15,471,765
97 <084
9,446,656
86,082
120,853
2,218,018
Comparison of items
changed.
Y
44,093
15,950:021
15,109,524)
_sr1,562,733 def1,979,092 def5,232,539
sur2,759,411
.
.
—V. 97, p. 951.
-
were
effected:,
Mo.Pac.Rti.
•
*
_
Equipment
trust obligations decreased.
The St. L. I. Mt. & So.
.
$5,542,095
1,213,000
(a) the remaining $37,905
Ry. Co. lias retired
first pref. income
bonds; (6) all of the $11,300,000
outstanding improve¬
ment M. bonds
(c) the $8,500,000 3-year note
payable to the Missouri
Pacific Ry. Co.
The impt. mtge. has been satisfied
and the note canceled.
The same amount
($11,300,000) of outstanding Missouri Pacific
Ry. Co.
First and Ref. bonds' was
simultaneously surrendered, and the right to
issue an additional
$13,700,000 of said Ref. bonds against a like
amount of
Impt. bonds was canceled by the satisfaction
of record of the
Impt. Mtge.
The St. L. I. Mt. & So.
Ry, Co. has executed an indenture
supplemental
to its First & Ref.
Mtge. dated July 1 1912, providing for the
creation of a
sinking fund, to be made up of one-third of, the
company's net income
(after deducting an amount sufficient to
pay a dividend of 4% upon its
outstanding capital stock) which is to be paid into the
sinking fund annually
on and after
Sept. 30 1915, such amount, however,
being limited to $1,000,000 in any one year, which said
sinking fund is to be used for the purchase
for cancellation or for
the redemption of the bonds (V.
96, p. 1157).
Certain changes have been made in the
collateral securing the
3-year 5%
gold notes of the Missouri Pacific
Ry. Co. due June 1 1914 and there is at
present pledged for the
security of these notes, of which $24,976,000 are
outstanding, the following collateral:,
v
•
Par Value of Collateral
for $25,000,000 Missouri Pacific 3-Year Notes.
St. Louis Iron Mtn. &
South, new lst& ref. 6% bonds...
.$22,000,000
do
do
do
" capital
stock..1,070,000
Missouri Pacific first and
.refunding 5% bonds of 1959......
1,972,000
Denver & Rio Grande RR.
preferred stock
9,800,000
do
do
do
common stock...
:
15,000,000
Texas & Pacific 5% notes due June
1 1914
:___
828,380
Concordia Coal Co. 1st M.
5% bonds, due Oct. 1 1945
525,000
Baring Cross Bridge Co. 7% stock (1,500
shares)
150,000
Pueblo Stock Yards Go. stock
(1,250 shares)...
125,000
Western Coal & Mining Co. stock
....
(10,000 shares).
1,000,000
Neio Lines.—The line between
Marianna and West
miles) was placed in operation Feb. 1 1913
Memphis, Ark. (42.9
(construction cost during
vear,
$699,918).
The railway of the Marion & Johnston
City Ry. Co. (6.99 m.),
Harrisburg Ry. Co. (1.97 m.) and Johnston
City Connecting Ry.
(2.05 m.), all located in the
Southern Illinois Coal
District, the entire
capital stock of which was owned
by the St. L. I. Mt. & Sou. Ry.
Co., were
transferred to the latter by deed
(adding $350,608 to "road
Marion &
Co.
Equipment.—The
new
equipment purchased
and taken into the
accounts, cost $65,047.
17 locomotives, 2 pile-drivers and
1 bridge
or
built at
and equip ").
company's shops
Additional equipment ordered'
erecting derrick car..
Additions and Betterments.—Total
expenditures for additions and better¬
aggregated $4,213,387 [viz.: Mo. Pac.
Ry., $1,775,702,
notably $410,323 for ballast, $275,916 for
ments for the year
widening cuts and fills and
tracks; and St. L. I. Mt. & Sou.
$2,437,684, including chiefly $837,846 for widening cuts
and fills, $454,683
for ballast, $205,955 for
fencing, $262,539 for sidings and other
tracks.)
Guts and fills were widened to
standard section on 650.54
miles,
in connection with
ballasting, .applied as follows: Gravel, 209.42 chiefly
miles;
rock, 0.90 miles;
cinders and slag, 167.46
miles;
chatts, 338.65 miles:
total, 716.43 miles.
The amount thus
expended, exclusive of maintenance
charges, aggregated $1,978,768.
New 90-lb. section rail was
laid on 261.82
miles, in displacement of lighter
sections, and 14.88 miles of second
tracks
were constructed.
Sidings and spur tracks and terminal
yards were newly
constructed or extended,
increasing the track mileage 67.71 miles;
481.8
miles of fencing was
completed and 2,493 cattle guards
installed; also
additional automatic block
signals covering 9.73 track
miles, and the neces¬
$302,742 for sidings and
spur and other
equipment to enable the extension of
the
protection over 781.49 additional
operated miles.
sary
circuits have been increased
1,435 miles;
Manual
4
telephone block
Telephone and telegraph
stations: brick, 16;
frame, 14.
were
established 448 new
industries
way, and 124 new industrial
sidings were built.
Notes, Ac.—Since June 30 1913 the item of
notes payable of
shown on the Missouri
$425,000
Pacific balance sheet has been
roduced $250,000'
the remaining $175,000
covering a credit to the hospital fund
Nov. 1 1912'
Similarly, the indebtedness of the St. L. I. Mt.
& Sou.
Ry. Co. to the
Missouri Pacific Ry. Co. has been
reduced by the payment of
on the sale of First &
$1,550 000
Ref. M. bonds held in its
Industrial Development.—There
adjacent to or on the right of
new
treasury.
Except for cur¬
obligations incidental to operation, the
system has no
floating debt.
Outlook.—The anticipations of a year
rent
ago with respect to the
operations
the property have been
quite fully realized.
The transition from
a
deficit last year of
approximately $2,000,000 to a "net income"
credit of
$1,562,734, is but a corollary to the persistent
energy directed toward the
development of the welfare of the
public and the integrity of the
The "density of traffic" has
carrier.
increased 17.8% over
1911-12 and 28 2-3%
compared with two years ago,
indicating the absolute necessity for
the way clearer for
making
of
Chicago Indianapolis & Louisville
Railway.
(Report for Fiscal Year ended June 30
1913.)
St.L.I M.&So.
$24,000
1,437,000
Pres. Fairfax
Harrison, Chicago, Sept. 16, wrote in subst.:
Earnings.—Results reduced,
to
the
compare with year 1911-12 as follows:
Gross.
Net.
"
Taxes.
1912-13.$11,329
$3,052
1911-12.
10,547
7.42
mile of road operated
Tot. Inc. Int., &c.
$429
$3,004
451
5.71
323
32.61
2,675
12.29
8.88
Charges.—The increase
partly
in fixed charges
Bal.
$2,131
2,012
5.93
during the
$873
31.58
663
year was caused
by the accrual of a full year's interest cn the
equipment trust and
refunding mortgage bonds sold in the previous
year, but chiefly by a heavyincrease in the fixed
charges of the joint terminal companies at
Louisville
and Chicago in whiqh we sharo under
the account of "rent
deductions";
being the inevitable incident of the
enlargement of terminals demanded
by present day operating conditions.
?
Traffic.—Despite the suspension of the revenue service for a week
of the floods which
swept the valleys of the Wabash
consequence
White
as
a
and
Rivers in March 1913, the
operating revenues for the year were
good and again were the largest in the
history of the property.
Freight
revenue increased
9.99%, the principal increases being in stone and coal
and other products of mines which
now constitute,
50.08% of the total
tonnage moved, though there were substantial increases
also in the tonnage
of live stock and lumber, and in
certain of the lower-class
manufactures,
such
as iron and iron articles and
cement.
Passenger revenues were relarmore affected than freight earnings
by the flood conditions, so, that
the total increase was nominal;
passenger revenue per train mild inc.
4.4%.
There have been Considerable increases in
the rolling stock
equipment
in the last two years and to the
tively
heavier engines so acquired
may be attribu¬
ted a large part of the advance in
operating efficiency during the past year.
Which is revealed by the following figures as to
revenue freight: tons-one
mile
increased,. 21.98%; tons
ner
train
mile
increased, 24.58%; tons
per
locomotive mile increased, 19.34%.
Or to illustrate this in another
way:
freight train miles decreased, 2.49%; while, total
mileage of freight train
cars increased
11,67%; while at the same time the average number of tons
per leaded car mile increased 8.66%.
Tn part due to the recent
acquisition of cars, the debit in hire of
equip¬
ment for the year 1911-12,
amounting to $77,985, has been turned
intofca
credit for 1912-13 of $36,743, a result due in
part, however, to the increase
in the per diem rate of car hire.
Flood in March.-—The flood had the effect of
washing out our lines and
suspending all through traffic south of the Wabash River at noon of March
25th.
In all 48 K
miles of track Were under water, the
greater part of it
were washed
out to a depth of from
1 to 15 feet.
being
on
fills which
None
of
our
steel
bridges
was
lost,
although piers and abutments were
a number of pile
bridges on branch
re-opened the main line promptly
between Chicago and Louisville and
„undermined in several instances and
lines went out.
By strenuous work
and
on
March
31
through service
we
Indianapolis was resumed.
As the other railroads between
Chicago and
the Ohio River had suffered damages which could not
be repaired so
quickly,
this company secured and moved
during April a larger tonnage than it
had ever before handled in the same number of
days, the facilities of the
line being taxed to the utmost.
„
R
.
Physical
Condition.—The expenditure for additions and
betterments
$1,472,966; as compared with $1,480,548 in the previous
year.
$1,000,000 in each year went for equipment, the other
principal
items being block signals, increased weight of rails and
track fastenings,
elimination of grade crossings and station
buildings.
The steady improvement in condition has been
accomplished largely
through operating expenses, though the charge for maintenance of
way and
structures per mile of track maintained ($1,851 this
year as compared with
$1,566 for 1911-12) reflects the repairs incident to the flood
damage.
For
up-keep of equipment the charges to expenses have been $3,219
per loco¬
motive, $555 per passenger train car and $46 86 per
freight train car, all
depreciation.
amounted to
Over
exclusive
of renewals
and
The most important additions to the roadway
during the year were the
block-signal system from Monon to McDoel
(133 .1 miles), the erection of 21 heavier steel bridges
(aggregating 32 spans),
the laving of 46.78 miles of track with new
90-pound rail, replacing rail of
the 75-pound section, the putting in track of
306,360 new white oak or
treated ties and 52,206 yarcls of new ballast
extensions of the automatic
OPERATIONS, EARNINGS AND
1912-13.
Miles operated June 30-
Passengers carried
EXPENSES.
1911-12.
1910-11.
1009-10.
617
617
616
616
2,163,216
2,085,373
2,160,716
1.996,220
80,049,334
Pass, carried one mile__ 87,845,361
88,358,953
securing adequate funds, properly
protected as an in¬
Rate per pass, per milevestment, so that the service requirements of
1.877 cts.
1.863 cts.
the growing
communities ! Rev. freight (tons) carr_
may be completely met.
4,546,441.
3,858,084
Freight (tons) carr. 1 ra_628,732,955 515,420,460
Statement of Mileage of Rail in Track
Rateper ton per mile___
0.745 cts,
June 30 (Total System).
0.826 cts.
100-lb.
Avge. train-load (tons)383
307
90-/6,. 85-/6.
80-/6.
75-/6.
70-/6.60-65/6. 52-56 /5,
1913
.245.83 261.82 2,468.18 26.82
Earn.per pass, train mile:
§1-19
$1.13
1,080.84, 89.67^846". 13 27312 96
Earn, per fgt. train mile
1912.---.1242.35
$2.85
$2.54
2,490.75 26.82 1,267.80 86.43
826 39 2,305.93
Earns, per mile of road
per
$477
«
2,803
Inc. %_
Fixed
average
Oth. Inc.
$11,330
$10,548
86,436,178
1.824 cts.
1.810 cts.
3,656,179
3,520,739
485,074,802. 524,265,96a
0.836
cts.
Q.775 cts.
313
340
1.13
$1.15
$2.61
$10,040
*!
m-
misc.
'
1
■
1,576,660
4,054,115
600,284
556,104
507,746
6,503,653
6,186,879
6,020,242
-a
1,069,198
982,051
216,675
'
Maint. of way, &c
equipment—
Traffic expenses
—
904,879
953,342
Per cent exp. to earns.Net earnings
—
"
•
1,728,441
278,145
38,526
36.121
1,852,569
1,649,819
1,865,579
Rentals
Hire of equip.,
balance.
-
1,314.208
409,160
lines.
2,188,896
1,411,981
Empl. ben. fd._
6,313,001
3,082,492
1,028,530
of
land
Other
312,262
Telegraph lines and
*3*2*7*062
9,532,626
10,726,087
reserves.
168,297,632 167,524,992
Total
.......168,297,632 167,524,992
Total
equipment include properties
controlled by stock
and merged in the Western Union
include securities held by the co. as
$2,268,342. c Funded debt includes
by the W. U. Tel. Co., $7,000,000,
less held in treasury, $3,143,000.
e Deferred non-interest-bearing liabilities
consist of proceeds of sales of securities and other properties held under
leases for terms expiring in 1981 and 2010 from lessee cos. in which the W.
U. Tel. Go. has for the most part a controlling interest, payable only on the
determination of the leases.---V. 97, p. 891, 600.
ownership or held
under perpetual leases
system,
b Stock of cos. leased does not
lessee, amounting to a par value of
bonds of sub. cos. assumed or guaranteed
861,580
200,000
341,150
341.250
balance.
Surplus;
1,179,827
"""85
200.000
200,000
341,250
199,752
341,136
(4%).
(3H%)
Dividend on pref.
Div. on common
1,152,992
712,587
1,240.659
538,361
•
Surplus for dividends
774,036
405,706
...
—
Total
724,920
416,485
8,345
3,242
732,300
430,464
77.895
12,385,763
1,585,081
liabii'sel2,889,183
Res. for cables.
Res. for reconst.
(less reserve).
a
Disbursements—
1,712,168
bearing
2,308,585
7,047,740
2,366,743
Material & supp
Treas.
non-int.-
Def.
8,000,000
7,000,000
2,570,671
oblig'ns.
Notes <fe
2,041,408
Miscellaneous.-
Accts.
Purchase money
1,803,453
168,187
804,071
510,137
investm'ts
Misc.
3,435,475
457,900
(see
Accrued taxes..
100,222
365,261
Sinking fund:..
446,250
Stk. ownership
"Ry.&Ind."sec.)c32,602,000c 32,602,000
3,244,175
payable.
2,985,973
461,423
300,817
319,287
4,874,769 Int.&gu.divs.accr'd 294,991
V '
69,367 Unpaid divs. (in781,999
clud. July 15)
782,351
357,887
1,180,000
6,267,267
coa.leas'd 65,895,209
Stk. of cos. not
4,874.769
leased.—...
Bills & accts. rec
1,661,271
1,450,296
160,997
Interest on bonds
„
1,180,000
tlon ol lease..
268,654
189,636
36,743
38,222
Total
owned (par):
Perpetual leases 3,434,825
!
Fund, debt
able at'expira-
S'
99,786,759
stock.. 99,786,759
stocks not
Sub.
122,935
113,952
Stk. of
173,663
12,709
51,583
Joint facilities, rents
lines ■
Amount recover- <
3,948,135
(65.58)
2,072,107
(68.81)
1,929,716
268,445
'
Si-
Liabilities—
Capital
Patents
1,973,814
182,927
4,257,163
$
equlpt__al30,115,254al29,000,539
estate.
6,661,811
5,948,150
and
792,968
822,785
175,641
799,008
878,722
201,556
2,193,184
184,693
4,775,212
(73.43)
1,587,968
Operating income
Interest, dividends, &c_
Hire of equip., balance.
■'<
210,467
2,529,722
176,802
5,103,937
(73.06)
1,882,007
294,039
Total—
Taxes
■ *...•••
2,656,418
179,595
Transportation
General.
Telegraph
1912.
1913;
1912.
$
Asset3
Real
Total earnings
J'-
1,646,207
4,257,162
1,449,074
4,063,422
6,985,944
Freight
Mail, express and
Expenses—
1913.
$
1,648,884
4,682,585
654,475
^Passenger
Maint. of
BALANCE SHEET JUNE 30.
1909-10.
1910-11.
1911-12.
1912-13.
Earnings—
1023
CHRONICLE
THE
111913.]
Oct.
BALANCE SHEET JUNE 30.
1913.
1912.
J
•Stocks
Cash.
Securs. in treasury
Marketable securs.
rec'le
306,511
Equip. 4J^s, Ser.A
341,000
Series B...
638,000
81,877
64,748
337,869
568,018
375,204
208,624
conduc.
Agents &
Mat'l & supplies..
accounts.
Miscell.
Advances..
Equip, notes
300,000
Traffic, &c., bals.
Vouchers & wages
250,000
161,409
788,430
Miscell. accounts-
143,812
80,560
409,930
256,894
161,465
land rents
16*616
46,788
271,653
Operating reserves
Oth.def.cred .items
285,000
9,439
"~~2~,845
3,226,304
1,902,794
4,187,149
through
income
loss....62,497,804
Boston
no
for accrued depreciation, $162,794.
additions to property through income,
net
liabilities June 30 1913 not heretofore
taken into account, $196,020; sundry equipment adjustments, including
proportion of loss on equipment retired this year acquired prior to July
190/ and sundry other adjustments, aggregating $67,506, and making
■credits aggregating $22,188.—V. 97, p 886.
a
After deducting reserve
deducting $1,323,511 for
amount of accrued assets and
6 After
Union Telegraph Co.
Western
(Report for Fiscal Year ending
Old Directors Who
old
The land line plant has been ex¬
miles of poles. The new building
completed about May 1 1914.
of wire and 2,174
reduction of $1,327-
$1,000,000, and reduction in book value of
Cable Co. stock owned, $373,462, less mis¬
cellaneous deductions, $45,633.
The lease of Am. Teleg. & Cable Co.
runs until 1932.
On Jan. 2 1913 a reserve of $364,353 was authorized out
of surplus, to be compounded at 5%, to reduce the book value of the hold¬
ings of said 18,418 shares of stock to $644,630 at expiration of lease.
Reserves*-—The reserve for Reconstruction of land lines has been increased
by $776,914, notwithstanding the heavy expenditures for rebuilding por¬
829, duo to payment on note,
18,418 shares of Am. Teleg. &
$46,385,993 $41,661,439
Revenues for year
Oper. exp., incl. rent of
leased
lines,
re-construction, repairs, &c.
,
41,939,934 $35,350,422
Taxes.1,020,000
713,414
Total
—
—
——$42,959,934 $36,063,836
'
v
1909-10.
$35,478,793 $32,754,111
* '
$29,153,632 $25,764,405
900,000
849,898
$30,053,632 $26,614,303
,139,808
$5,425,161
1,680,196
1,135,092
$4,463,509
$6,923,971
$7,105,357
$7,274,900
$1,337,229
$1,670,417
$1,733,390
$1,687,830
2,992,166
*1,250,000
2,991,823
(3%)
2,991,304
(3%)
2,989,696
(3%)
$4,329,395V
$134,114
$5,912,240
$4,724,694
$1,011,730
$2,380,663
10,726,087
10,114,356
7,733,693
$4,677,526
$2,597,374
18,867,462
1,037,450
$5,597,603
1,326,368
$3,426,059
Balance
Income from invest.,
Net
'
1913, the sum of
to be applied as
1910-11.
1911-12.
&c.
profits.
Disbursements—•
For interest on bonds.
__
Reserves for repairs and
reconstr. of land
lines
■Cash dividends
Rate per annum.
Total
disbursements-
Balance, surplus.
Burp. July 1 (beg. year).
(3%)
$10,860,201
Total
$11,120,OS0 $10,114,356
—
Burp
ol,327,574
June 30 (endyear) $9;532,628
-
■
_
.....
$10,726,089 $10,114,356
13,731,143
$7,733,693
Appropriation fbr reserves ($1,327,574) includes $1,000,000 to estab¬
employees' benefit fund; less reserve for provisional pension fund; $30,
779. leaving a' balance of $963,221' and |$364,353 to establish a- reserve
against capital stock owned in leased company.
1
„
a
lish
■;
'
■
'■■■■■■'■
v....
97, p.
'
Toronto
to Quebec.—On
Oct. 3 the first through train ran over
the line between Toronto and Quebec, 255 miles.
Through
service from Montreal to Port Mann on the Pacific is ex¬
Northern
Ry.—First Through Train
1914.
pected to begin by Nov. 1
Construction.—
Public
q
.
"
■■
-
.
"Saskatchewan
•
Service
Monthly,"
a
Govern¬
magazine,
in a recent number says ^ that,
al¬
though the Province has guaranteed bonds of this company
and the Grand Trunk Pacific Ry.in respect of 2,230 miles,
to a total of $28,990,000, the companies have found it im*
ment
possible to dispose of the same, owing to the stringency in
the money markets and construction work in' the Province
has been greatly interfered with and in several instances
held in abeyance altogether.
As a result of the urgent requests of the Minister of Railways, some
work, it is stated, is being carried on and certain of the new lines will be
located and surveys completed, so that work may be completed as soon
as
funds are available.—V.
97, p. 950, 802.
Ry.—Annual-Meeting—Land Assets.—
The statement made by the President, Sir Thomas Shauglnnessy, at the annual meeting in Montreal on Oct. 1 will be
found in full on a subsequent page.
Sir Thomas points out
the increase in the annual gross income in the last 10 years
from $43,000,000 to the record total of $139,000,000 in the
late fiscal year and the prospect of a proportionate increase
in the next decade if Canada continues its remarkable growth
and the company is* provided -with-The means adequately to
Canadian Pacific
handle its
growing traffic.
•
of
Important features of the .statement are the estimate
$129,021,500 placed on the value of the company's land grant
and town sites
and the announcement that the directors
will endeavor to devise some plan1 before the next annual
and
meeting for reconstructing the special income account
showing extraneous assets in more definite and tangible form.
"Meantime
the
management
feels
that cash proceeds of sales
of town sites, which last year amounted to $1,409,747, may with propriety
be taken into the special income to be dealt with as directors in their dis¬
cretion deem best."
Thelast remark is thought toforeshadow a bonus from
this
on
source
during 1913-14.
,
passed authorizing an
and extensions of
issue of 4% debenture
stock
branch lines, and of steam¬
annual report. See V. 97, p. 529.—V. 97, p. 728, 666.
account of branch lines
ships mentioned in the
Chicago Railways.—New
$21,464,836
400,000
bds. ret. May 1 1912.
Reserves'
■
A resolution also was
Prem. on conv. redeem.
Adjustments—
'
Canadian
$713,660, less patents, $8,982.
1912-13.
Dumaine, James
Edward
representative
Turtle, Richard Olney, Alvah W. Sulloway, Frederick C.
M* Prendergast, Edwin Farnham Greene, Fred. E. Richards and
P. Ricker.
President Elliott of the New Haven is the only
of the railroad remaining on the Boston & Maine directorate!1—V.
$2,488,000.
• .
policy referred to in last year's annual report
during the year (V,. 95, p. 984).
Property Account.—This account has been increased $1,819,393,. repre¬
senting new land line construction and equipment, $1,114,715, and real
DISBURSEMENTS.
.
Cochrane,
re-elected, but
who con¬
(Prest.), Lucius-1
Who Remain.—Theodore N. Vail and Alexander
serving also on the New Haven board, were
have resigned from the New Haven board.
Other
directors
tinue are Howard Elliott (Chairman), Morris McDonald
Dividends.-—The dividend
RECEIPTS AND
Co.; Philip
Hemingway
,
Old Directors
948, 729.
,
RR. and Samuel
who have been
has been continued
tions of the property.
"
Pension, &c., Fund,—Pursuant to'plan adopted Jan. 1
$1,000,000 was charged to surplus and set up as a fund
shown in V. 96, p. 878.
C. Baylies and Robert
of the Boston RR. Holding
of the Boston & Providence
Charles F. Linsley of Connecticut.
and
June 30 1913.)
&c.—This account shows a
Retire.—William Skinner, Walter
who are also directors
Dexter, Prest.
increase in wages,
Other Securities Owned,
announced:
the following changes are
Directors.—Charles *W. Bosworth, Springfield; Edward B. Winslow,
Frank P. Carpenter, Manchester, N. H.; James D. Upham,
Claremont, N. H.; George II. Prouty, Newport, Vt. and Samuel Carr, Bost.
New
will be changed to end Dec. 31, and a
full report will be submitted next April.
In the present
brief statement Pres. Theo. N. Vail says in substance:
Income Account.—The increase of $1,700,000 in gross earnings is satis¬
factory when due consideration is given to the general business conditions
during the period under review.
The principal increases in operating ex¬
penses were:
Reconstruction and depreciation, $1,652,800; improvements
at offices and establishing new offices, $443,200; relief department and pen¬
sions, $124,300; proportion of messenger service (extending radii) , $121,900;
tended by 26,020 milos
now in progress mil be
Directors.—In order that
Portland;
The fiscal year
estate,
Maine RR.—New
with the management of the N. Y.New
& Hartford RR. shall act as a director of the com¬
M. Burnett,
,
&
director identified
Haven
39,865,531 39,227,055
Total
.39,865,531 39,227,055
ELECTRIC ROADS.
Rys.
pany,
11,057 Add'ns to property
Profit and
Total
692,027
34,845
279,558
Unmat'd int., &c.
Taxes accrued-...
47,873
RAILROADS, INCLUDING
Alabama New Orleans & Texas Pacific Junction
Beginning Oct. 1 1913, upon surrender of coupons. Nos. 45 and 46, due
April 1 and Oct. 1 1913, interest for the cal. year 1913 was paid on the
£840,000 "C" (income) debentures at the full rate of 5%, less income tax,
at office of Glyn, Mills, Currie & Co., London.
The offices are now at 32 Bishopsgate, London, E.C.—V. 96, p. 553.
379,704
67,535
Matured int., divs.
debit
items
383,000
713,000
Collat. trust notes
341,597
579,367
9,550
Sinking fund
def.
13,517
do
33,115
deposits..
Special
INVESTMENT NEWS.
GENERAL
S
stock...10,500,000 10,500,000
5,000,000
Preferred stock... 5,000,000
Funded debt
15,000,000 15,000,000
1,915,057
4,300
907,700
66,336
Traffic, &c., bals.
Loans & bills
-
742,382
1,123,990
306,511
553,764
4,300
692,000
stocks...
:
S
Liabilities—
Common
proprie¬
of
tary, &c., cos..
Other
•;
equip.-.a35,473,629 33,888,721
Mlscell.
1912.
1913.
S
Ji.SSCt3
Road &
Unification Plan.—On Oct.
4
the Chicago City Ry. announced to the
Transportation of the Chicago City
Council- that negotiations^ between all the surface street
railways for the city for unified'operation (without the pre*
vious proposal for a city guaranty of a minimum return) had
this company and
Sub-committee
on
reached;
a
point warranting*
the-question- of a suitable- ordi¬
the ordinance of 19Q7
modifying in some particulars
and subsequent ordinances.
»
nance
1024
THE
CHRONICLE
Under the proposed operating
agreement, all the lines would be oper¬
ated by a single management as if
owned by one company, with through
routing of all cars, additional cars and track facilities, which, it is believed,
would increase downtown
transit and a 5-cent fare
transportation facilities 30%, give more rapid
throughout the entire city on surface lines, doing
away with the present 10-cent fare in Calumet district south of
79th St., etc.
Pres.
Busby of the Chicago City Ry. is quoted as saying that "all the
income from the properties would
go into a common fund out of which
operating expenses would be paid.
Then the net proceeds would be divided
between the companies on an agreed
percentage basis along lines contem¬
plated in the 1907 ordinances.
The Calumet & South Chicago company
has had
a deficit for several
years, and provision should be made to take
this amount—approximately
$250,000-—from the earnings of the Chicago
Railways Co. and the Chicago City Ry. Co."
The Calumet ordinance
provides that this shortgae shall be
paid out of future earnings before any
division with the city.
v,
>
Chairman llenry A. Blair states the
operating agreement will be sub¬
mitted to the holders of certificates series
1, 2, 3 and 4 for approval before
it becomes effective.—V.
97,
,
p.
802, 728.
'
Chicago Terre Haute & Southeastern Ry.—Earnings.
June 30.
Operating
Net
Revenue.
Other
Fixed
Income
Revenues.
„
__
Treasurer
P.
Thomas Keeley (First Nat.
Bank, Denver); Sec. and Aud.„
Randolph Morris.
Eastern
June 30
Year—
—V. 94, p.
Erie
Columbia (S.C.) Ry., Gas & Electric
Co.—Earnings, &c.
See Columbia Ry., Gas & Electric
Securities Co. below.—V. 96, p. 1020.
Columbia Ry., Gas & Electric Securities Co.—Convert¬
ible Secured
Not&s.—Redmond & Co., N. Y. and Boston, are
placing at a price to net 6^% 3-year convertible 6% secured
(first lien coupon) gold notes, dated Oct. 1 1912 and due
Oct.
1
1915.
\
Interest A. & O.
Par $1,000.
Secured by deposit with Columbia-Knickerbocker
Trust Co., N. Y,,
trustee, of 1st M. 5% bonds of Parr Shoals Power Co.,
guaranteed, prin¬
cipal, interest and sinking fund, by Columbia Ry., Gas & Electric
Co., each
$1,000 note being secured by $1,350 par value of
bonds, and the total auth.
Issue of $2,000,000 to be secured
by $2,700,000 of these 1st M. 5% bonds
out of a total authorized of
$3,000,000, the remaining $300,000 bonds being
reserved for future issue.
(See p. 44 of "El. Ry. Sec.")
Convertible at option of holder on
any interest date on 10 days' notice
into an equal par value of the
deposited 1st M. bonds and $120 in cash per
note, making the net cost of the bonds 88 (a
5M% basis).
Also subject
to redemption at
company's option On any interest date at 101 and int. on
30 days' notice; if called, the
privilege of conversion may be exercised.
The demand for power is
largely in excess of the present capacity of the
generating stations of the Columbia Ry., Gas & Electric
Co., which does
the entire street
railway, electric-light, power and gas business of the city,
and to meet this demand the
company has been developing at Parr Shoals
an additional
18,000 h.p., which can be readily increased to 24,000
h.p.
The first 18,000 h.p.
development is rapidly nearing completion, and it is
expected that current can be delivered by Jan. 1
1914, the development
including a concrete dam 2,000 ft. in length, power house,
machinery, 30
miles of double circuit, steel tower
transmission lines, substations, &c.
Earnings Columbia Ry., Gas & El. Co.—Est. Present Extensions
Completed.
(
[Said
co.
controls entire
stock of Parr Shoals Power
Co.]
—June 30 Years
common
Est.Pres.Ext.Comp.-
1911-12.
Gross
earnings
Net earnings, after taxes
Interest Columbia bonds
Sinking fund Columbia bonds—
Int. Parr Shoals bonds (pledged).
1912-13.
1st Year.
3d Year.
$572,028 $627,403 $971,891 $1,245,962
281,978
332,225
518,459
680,517
123,896
133,3381 165,640
175,640
See V. 93, p. 229/
135,000
135,000
—__
Surplus..
-:_._$158,082 $198,887 $217,819
$369,877
The surplus earnings for the 12 months
ended June 30 1913, without
any
receipts from the Parr Shoals Power Co., were thus
$198,886, or nearly 1 %
times the entire interest charges on the Parr
Shoals bonds, which are
pledged
to secure these notes, while
signed contracts for additional power assure
an increase in these
earnings, as'soon as the power is available, of at least
$100,000, and it is expected will reach a much larger total.
Dividends at rate of 6% per annum are
being paid on its pref. stock, and
over 7% is being earned on its
$2,000,000 common stock.
The city is
Sowing rapidly. Population now served about
gs above compare with $422,878 for cal.
year
42,000.
1908.
The gross
earn-
Delaware & Hudson Co.—JBonds
Authorized.—The P.rS.
Commission has issued an order
authorizing the company to
issue $4,500,000 "first and
refunding" 4% bonds due May 1
1943
at
not less than 95 and accrued
and payment of
int., for improvements
outstanding obligations.
.
>
The
in its petition asked for authority to issue
$5,000,000,
of which $3,000,000 were to retire a like amount
of bills payable,
represent¬
ing expenditures from income for capital purposes from
May 1 1911 to
Dec. 31 1912, and $2,000,000 were to be used
for future
company
improvements.
The Commission on June 3 madaan order
authorizing the company to issue
$2,000,000 of the bonds, but omitted tojnclude in the order
this $2,000,000
to retire the bills payable.
The $500,000 not covered
by the present
order will be reserved until the conclusion of
the examination by the Com¬
mission.
Compare V. 96, p. 1700, 1156.
Denver & Salt Lake RR.—Tunnel Contract
Signed.—
"Denver"
See
in
"State &
City" Department.—V. 97,
p.
Denver Union Terminal Ry.—New Terminal
—Guaranteed Bonds.—This new
520, 298.
Company.
corporation, organized with
proposed issue of $30,000,000 of authorized capital stock
(in $100 shares) to provide Denver with a modern
passenger
station, will, it is announced, take over all of the
property
of the old company, the Union
Depot & Railway Co. (V. 71,
p.
343).
The new company will make a
a
first mortgage,
$10,000,000
covering all property, franchises, &c., then
hereafter acquired with the
proceeds of the bonds,
in order to secure the funds for
extending and greatly im¬
proving the passenger terminals of the city.
The Union
Pacific RR., Denver & Rio
Grande, Colorado & Southern
owned
or
Ry.,
Chicago Burlington & Quincy, Atchison Topeka & Santa Fe
Chicago Rock Island & Pacific will have exclusive use
of the terminal, and will each own
$5,000,000 of the stock
and
and guarantee their one-sixth of the
the bonds.
principal and interest
on
Of the bonds about $4,000,000 will be
immediately available for the ac¬
quisition of additional real estate and certain improvements.
The remain¬
der of the issue, $6,000,000, will be used from
time to time for the
recon¬
struction and remodeling of the pld structure and
the raising of the
tracks
and general improvement and betterment
work.
The date of the bonds
has not yet been fixed, nor the interest
rate, but they will be subject to
call
as a whole at 105 on and after some
date in 1919.
Par $1,000,
interest
semi-annual; trustee, Continental & Commercial Trust &
Savings Bk., Chic
.
Earnings.
$333,676
260,713
$436,004
438,593
Interest &
A Rentals.
Balance*
Surplus.
$118,373
46,467
$215,303
214,246
.
RR.—Equipment Notes.—The
company has sold to
issue of $2,350,000 of its Series U
equipment trust notes.
The bankers will make a
public
offering of the same next week.
New York
bankers
an
-
cost
and
co vers some
of
1,500 40-ton steel frame box
.
cars
purchased at
a
$1,593,580; 500 50-ton self-clearing hopper cars to cost
$593,028.
500 50-ton drop-end
gondola cars to cost $642,768 —V. 97,
p. 886,728.
Galveston-Houston
Electric
Co.—Authorized.—The
Oct. 6 authorized an increase in the
capital
the addition of $1,000,000 each of common and
stock
364.
Net
A Taxes.
$769,680
699,306
279.
Cincinnati Hamilton & Dayton Ry.—No Income In¬
terest.—Notice is given to the holders of the
general M. bonds
p.
Denver.
Oper. Exp.
Earnings.
1912-13
1911-12
stockholders
No interest was paid for the
year ending June 30 1912 nor for that ending
June 30 1911, during which the bonds did
not carry any fixed interest.
Compare V. 95, p. 817; V. 94, p. 206.—V. 97,
Office of
company,
Pennsylvania Rys.—Earnings.—
Gross
—V. 97, p. 298.
that the net earnings and income of the
system for the fiscal
year ending June 30 last do not suffice to pay any additkmal
interest on said bonds
represented by the coupons due Nov. 1
1913 dependent on said income.
xcvii.
Officers and Directors: L. Mohler (President) and W. P. Scott, of the
U. P.; E.L.Brown
(V.-Pres.) and J. B. Andrew, of D. & R. G.; P. C. Fox
and H. T. Rogers, of
Atchison; A. D. Parker and H. W. Cowan, ofj Col. &
Sou.; D Miller and H. B.
Bryan, of C. B. & Q.; A. C. Ridgway and A. E.
Sweet, of Ch. R. I. & P.
This issue
Balance,
Income.
Charges. Interest.
Surplus.
$1,929,552 $427,921 $490,352 $670,168 $144,977 $103,128
1,827,361
532,285
332,964
614,848
130,000
120,401
Year—
1912-13
1911-12
[Vol.
on
by
preferred, making the total autborized |$5,000,000
$4,000,000 preferred.—V. 97, p. 802, 666.
common
and
Georgia & Florida Ry.—To Fund 1st M.
Coupons Due
May 1 1916, Inch—Pres. R. Lancaster Wil¬
Nov. 1 1913 to
liams in circular dated Oct. 11
1913 says in substance:
After conference with the holders
of large amounts of the
1st M. 5%
bonds, it has been determined that
provision should be made to fund or
extend
the payment
of interest
for three years
upon the 1st M. bonds.
This situation has been
brought about by low earnings, caused by floods and
damage to the cotton and other crops which could not
have been foreseen.
Fortunately the prosp ects for a larger cotton
crop in Georgia at good prices
is assured
for the current
year.
The executive
committee recommends, the
deposit of the coupons matur¬
ing Nov. 1 1913 to May 1 1916, both
inclusive, in exchange for five-year 5%
notes [to be dated Nov. 1 1913 and
due Nov. 1 1918, int. M. &
N.], secured
by deposit of the coupons.
An agreement covering the
proposed exchange
has been duly executed
by the railway and you are urgently
requested to
execute it promptly.
The Baltimore Trust Co. is
depository.
Should the
plan be made effective, the holders of the 1st M. bonds will
be either paid
their interest in fuli,
or, in the event of the failure of the
expectations of
the management, their
coupons will be returned uncanceled upon return of
the notes.
Holders of a large amount of the bonds
have already assented.
By thus deferring payment of interest, it is believed that
sufficient time
be given to
develop the property and demonstrate its real
earning
capacity.
The property is in excellent
physical condition, and, under
normal crop conditions, is
capable of showing good earnings.
Unless the
bondhold ers co-operate in this
effort, it will be impracticable to continue the
development of the property without great loss to the
security holders.
Much attention is being paid to
colonization and agricultural
development
along the line, which should result in increasing
permanently the revenues.
[The coupon funding agreement dated Aug. 15 1913
says that "This agree¬
ment shad become
binding upon the parties hereto only upon condition
that the holders of not less than
80% of the outstanding 1st M. 5% bonds,
exclusive of $630,000 face value of bonds owned
by the railway and used as
treasury bonds, shall have become parties hereto on or before Oct.
15 1913.
The railway has not earned and is not now
earning full interest upon its
1st M. 5% bonds of
1907 and has not funds to provide for the
payment
of certain car trust and other
obligations approaching maturity."] Compare
V. 95, p. 1472; V. 94, p. 1118, 203.
wili
Gulf &
June 30.
Year—
Ship Island RR.—Earnings-
Operating
Net (after
Revenue.
Other
Income.
Taxes.
1912-13 --$2,114,619
1911-12-- 1,982,740
$654,952
566,020
$28,920
12,886
—V. 95, p. 1117.
Illinois
Central
RR.
Listed.
Int., Sk.
Fund, Ac.
$360,327
374,336
-The
Dividends
Balance,
Surplus.
$323,545
69,570
(2%).
$135,000
New
York
Stock
Exchange has listed $3,000,000 additional refunding M. 4%
bonds, due 1955, and $8,468,000 Louisville Divisional &
Terminal 3k£% first M. bonds,
making the total amounts
listed $35,740,000 and $22,788,000,
respectively. 1
The proceeds of the refunding M. bonds
just listed
the company
were used to reimburse
in part for expenditures for improvements and additions.
Purposes for which said $8,468,000 Div. A Term. 3Hs (and $1,100,000 still
in
treasury)
were
issued.
Remainder unsold of amount covered in previous
application.—.
To retire I. C. two-ten bonds
4% bonds of 1904-—
For acquisitions, additions and extensions of the
$553,000
4,015,000
Chicago St.
Louis & New Orleans RR. issued along with
$1,100,000 in the
treasury, making $5,000,000 in all for railroad of former Ohio
Valley RR., 139 miles, Hodgeville & Elizabethtown Ry., 11
miles, Kentucky Western RR., 17 miles, branch Paducah to
E. Cairo, 34 m., and(as to $1,159,000)for
double-tracks, &c_. 5,000,000
—V. 97. p. 887, 733, 724.
Interborough Rapid Transit Co., N. Y. City.— -Offering
of First Lien Bonds.—Lee, Higginson & Co., Harris, Forbes
& Co., Kissel, Kinnicutt & Co., Wm. A. Read & Co.
and
White, Weld & Co., are offering at"98Yi and int., by adv. on
another page, $30,000,000 First and
Refunding Mtge. 5%
gold bonds, dated Jan. 1 1913 and due Jan. 1 1966, but
callable at 110 and int.
Int. J. & J.
Par, c* $1,000]
r* $1,000, &e.
Exempt from all N. Y. State, county and
municipal taxes.
These bonds were fully described in the
statement to N. Y. Stock Exchange, in "Chronicle" of
Aug.
16, p.< 450 to 455.
The agreement between the city and the
company makes them, in effect a quasi-municipal
Security.
Over $22,000,000 of the $30,000,000, it is.
understood, have
already been sold.'
.
Data
from Letter by Pres. T. P., Shonts, New
York, Oct. 3 1£13.
[See statement to N. Y. Stock ExM V. 97, p. 450; annual
report, V. 97j
p. 725, and map in "Ry. & Ind. Section."]
Properties.—Leases the municipally owned underground railroad in N. Y.
City, popularly known as the "Subway," comprising 85.34 miles of
single
track, and operates under 999-year lease the Manhattan
(Elevated) Ry.,
comprising the entire elevated railroad system in the boroughs of Manhattan
and the Bronx, 118 miles of single track.
It has contracted with the
city
to operate 147 miles of additional subway track and
21 miles of additional
elevated track, either under construction or about to be
constructed, making
a grand total of 371-34 miles of track.
The company's system serves
the
principal commercial, financial and residential sections of N. Y.
City.
of new subways and
city is $173,000,000, of
co. $107,000,000.
Capital Stock, of which $35,000,000 is Auth. and
OutsVg.
The estimated cost of construction and
equipment
elevated lines covered by said contract with the
which the city will contribute about $66,000,000 and the
Dividends Paid
on
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
5%
7H%
8H%
1912.
9%
9%
9%
9%
10^%
15%
Bonds.—-To retire the $33,959,000 45-year 5% bonds called for
payment
Nov. 1 1913, to retire all floating debt (now
accomplished) and to provide
the company's share of the cost of construction and
equipment of the new
lines, the P. S. Commission has approved the issuance of
$160,957,000
First and Ref. Mortgage bonds.
It is estimated that
approximately
$156,000,000 of these bonds will be required for said
purposes, and of
these there have been issued to date,
including the bonds
$68,658,000.
The remainder
three years, as required.
are
to be issued
"
„
.
now offered,
gradually during the next
,
,
CHRONICLE
THE
1913.]
Oct. 11
1 1913 the First and Ref. Mortgage bonds will become
real estate, power houses, sub-stations, equipment and
On Nov.
a first
other
property owned directly, and also upon all leasehold and other rights of the
company in the existing and proposed subway and elevated lines.
To pro¬
vide for possible future requirements, the authorized issue has been made
8300,000,000, but the remaining bonds can only be issued under the careful
restrictions for further additions, improvements and equipment, with the
lien upon
Commission.
approval of the P. S.
of the dual
ended June 30 1913 (V. 97, p. 725, 744, 745.)
,.$32,985,3611Rentals
$8,204,639
Net, after taxes.
17,607,7371Net for int. and dividends 9,403,098
It will be noted that the net Income is here more than sufficient to pay
the interest and sinking fund on the entire $156,000,000 bends (which, as
above estimated it is expected will be issued to Jan. 1 1917, for construction
and equipment), notwithstanding the fact that the company has as yet
received no return from the investment to be made by it and the city of
approximately $173,000,000 in the construction and equipment of the new
lines, which will add 170% to the miles of track now in operation in the sub¬
way and 20% to the elevated lines.
Said interest and sinking fund will
amount to $9,360,000 per annum!
"
It is estimated that during the first five years after the completion of the
Earnings for Year
Total gross
;
income
property the annual net income
u88,000, and, beginning with the
amount to $15,490,000.
of Business
man,
Knickerbocker Trust Co.
V
The committee claims that, with independent management, the.property
could pay liberal dividends.
The annual meeting is set for Oct. 21. See
should
.
as
Ry.—Earnings.—
,
Other
Fixed
Dividends Balance,
Income. Charges. , Paid.
Surplus.
...$3,303,229 $1,011,548 $308;216 $314,368 a$540,000 $465,396
3,145,252
1,027,154 166,502 275,420 5450,000
468,236
in 1912-13. 5 5% in 1911-12.—-V. 96, p. 236.
1912-13
1911-12
a
Oct. 1
chase of the
St.
jfc-
Southern Railway Co.,
St. Louis Southwestern Ry. Co.
& Southern Ry. Co.,
by a direct, first and only mortgage on the entire property now
hereafter acquired through the sale of these bonds, embracing
Secured
Co.,
about 20 acres of real estate in an important part
modern union passenger station, tracks, power house
to date
necessary
for the handling of passenger
guarantors own the entire
The five
of Memphis, with
and all facilities
additional
the terminal
bonds.
for the last
$21,460,263,
—Listed.—The New York Stock
$13,335,000 "first and refunding " M,
30-year 5% collateral trust bonds, series A, due 1941 (V. 96.
p. 790; V. 95, p.- 1608).—V. 97, p. 444, 365, 361.
N. Y. Connecting RR.—Guaranteed Securities.—
Montreal Tramways Co
Exchange has listed
"Reports" above—V. 97, p. 597,
New York New Haven & Hartford
Reports" on a preceding page.
;:.j
RR.—Report
See "Annual
,
Boston & Maine RR. above.
■1'.,.• Six Committees,-etc.—The directors on Oct. 3 appointed
six committees to consider the following matters with refer¬
ence to the recommendations of the Inter-State Commerce
Commission and to report not later than Dec. 1:
(1) Connecticut trolley situation.," (2) Rhode Island trolley situation.
(3) Steamship situation.
(4) Relations of the New Haven with the Bos¬
Separate Boards.—See
(5) Relations of the New Haven with the Boston & Maine.
(б) Western Massachusetts trolley situation,
[Pres. Elliott on Oct. 9 had a 2-hours' conference with
McReynolds, looking to a solution of the difficult monopoly situation (to
which the Government objects), "with the least possible disturbance tp
New England and to the owners of the property."—V. 97, p. 803, 729.
ton & Albany. s
Attorney-General
Northern
Ohio Traction &
Light Co.—Notes Sold.—
Hay den, Miller & Co. of Cleveland announce that all of the
$1,500,000 collateral trust 6% bonds recently offered by
them have been sold.
Compare V. 97, p. 803.
All of the $700,000 collateral trust gold 6% bonds dated May 1 1909,
Nos. 301 to 1000 incl., maturing from Nov. 1 1914 to Nov. 1 1918 incl.,
have been called for payment at 102 and int. on Nov. 1 at the Citizens'
Savings & Trust Co., Cleveland.
The $100,000 due Nov. 1 1913 will be
paid at the same time.—V. 97, p.
803, 176.
Oklahoma Central RR.—Earnings.—
Oper.
Year—
]S[et (after
Other
Revenue.
June 30.
Taxes).
Income.
$21,126
" 1,548
1912-13... $292,429
1911-12... 259,545
—V. 96, p.
1089.
*
$651
Balance,
Interest
Deficit.
Rents.
$32,637
38,532
$53,764
40,731
<
•
About a year ago
Pennsylvania Co.—Bonds Called.—
Co.,
maining unpaid Sept. 15: Called for Nov. 1
No. 5922; Nov. 1 1908, No. 5919; Nov. 1
Nos.
1906, No. 5920; Nov. 1 1907,
1911, No. 7727; Nov. 1 1912.
13479, 13483.—V. 97, p. 176.
-
*
"
Rapid Transit in N. Y. City.—Contracts—
The P.
S. Commission on Sept. 30
„
authorized a contract to be made by
Municipal Ry. Corporation with George W. McNulty for
the reconstruction of the Sea Beach road as a 4-tracked line from a connection
with the Fourth Ave. subway at about 65th St., Bay Ridge, to 86th St.,
near Coney Island.
The contract price is $1,877,525 (lower than any other
the New York
and the extension of the line to Blytheville.
the St. Louis Southwestern purchased from Hasty and
paying them par
so that we now
maturity of the bonds,
well as to cover the advances made and future capital requirements,
it was determined to create a [$5,000,000] 30-year 5% bond issue of that <
company and to lease the property to the St. Louis S. W. Co. for a rental
equivalent to the interest upon these bonds.
The initial issue of the bonds
is confined to the par amount of the bonds that matured on July 1 1913
and the amount of capital advances, and will be received by the St. Louis
Southwestern Co. and placed in its treasury as, a free asset.
(See V. 97,
as
p.
366-)—Y. 97, p- 730. 445-
.
/
.
Authorized.—
San Antonio Uvalde & Gulf RR.—Bonds
Texas RR. Commissioners have authorized the company
$800,000 additional bonds, making the total amount outstanding
000.—V. 97, p. 888.
The
Electric Ry.—Lease.—
Hartford RR. under "Reports" above.—Y. 97,p.597.
Line
Shore
to issue
$3,663,-
See N. Y.N.H. &
Spokane & Inland
Empire RR.—Bonds.—The balance
company's annual report for the last fiscal yehr
shows outstanding on June 30 $4,806,500 funded debt (con¬
sisting of first and refunding M. 5s and prior lien bonds) and
$4,170,073 unfunded debt, also secured, making a total of
$8,976,573 of funded and other secured debt.
The remain¬
ing facts and figures contained in the report are as given in
the "Chronicle" of Sept. 27, page 884.
sheet in the
Disposition of Special Assets, at
Thursday said:
Question of disposition to be made of large cash fund realized by Union
Pacific from proceeds of sale of Southern Pacific stock and possible disposi¬
tion of certain other assets of the company has received earnest and careful
Union Pacific RR.—No
Present.—Chairman Lovett on
attention
executive committee and board.
arrived at that existing circumstances make it
deal with this subject at present.
misunderstanding, however, it is deemed right to state that
of the
The conclusion has been
inexpedient to
To
avoid
of the various plans thus far considered and discussed contemplated
division of surplus either in cash or securities which in its
have increased present yield of the stock.
ious stories of disagreement in the committee and
There have been varioi
board in "regard to this matter.
There was no ground fpr such
Naturally there were many suggestions made but there was
accord in the board and the committee in the conclusion reached.
none
result would
any
•
stories.
absolute
Explanation
Given by Another Director, "N. Y. Sun," Oct,.
the question of a distribution only on the
income of the Union Paicfic shareholders was not to
If for instance a distribution had been decided on
as
The directors took up
that the present
creased thereby.
10.
basis
be in¬
which
recipient of 1%,
been reduced to 9%,
have continued 10% .
Question of a cash or a Security dividend was considered only on that basis.
Nothing was considered that would have increased the yield to the stock¬
holder; in other words, no melon was thought of.
Judge Lovett's statement disposes of the question of distribution indefi¬
nitely.
It does not bar consideration of such a distribution at any time
that a favorable turn in conditions may come.
The term "existing cir¬
cumstances" means both general conditions and those specific conditions
applying to Union Pacific.
It includes the question of the disposition of
Central Pacific, money conditions, legislation and politics and Union Pa¬
would have amounted to a return on
dividend
the
on
the amount to the
Union Pacific shares would have
the stockholders would
that the total income to
so
cific's desire to be in a strong
V.
97,
p.
position for all circumstances.
730.)—V. 97, p. 730,
United Rys. of the
(Compare
667.
Havana & Regla
Wareh's.—Div.—
declared on the ordinary stock from the
payable on Oct. 23, comparing with 414%
in the preceding fiscal year, 4% in 1910-11
and 1919-10 and 2% in the year
1908-09.
A dividend of 7%, less income tax, is also payable for the year
on the same date on the 110,000 shares of the Western Railway of Havana,
most of which has been exchanged for shares of the United Rys.
In 1905
to 1912 7% was also paid and in 1903 and 1904 6%.—V. 95, p. 1041.
A
dividend
of 5%
has been
profits of the recent fiscal year,
1,334 ($1,334,000) certificates of the 3J^% gold loan of 1901, maturing
1 1916, for payment at par on Nov. 1 at Girard Trust
Phila.
Notice is also given of the following certificates, heretofore called and re¬
Nov.
and Guaranty
Bertig their entire interest in the Paragould Southeastern,
and int. for their bonds and about $13,000 for their stock,
own all of the stock and all of the bonds.
Against the
life of these bonds,
& Hartford RR.under
Southwestern Ry.—Lease
&
Louis
reconstruction of the road
trains.
capital stock and have contracted
(а) to use and maintain this terminal throughout the
the agreement obligating them to do this having been deposited as
security under the mortgage; (b) to pay as rental for the use of
an amount equal to the
cost of operation and interest on the
The aggregate surplus earnings of the guarantor companies
fiscal year reported, over and above all charges, amounted to
or more than seven times the amount of this issue.—V. 93, p. 1324.
See N. Y. N. H.
may
Ratified.—The stockholders on Oct. 7 voted to lease the Para¬
gould Southeastern Ry., also to guarantee the payment of
the principal and interest of an issue of 30-year 5% bonds of
that road under a mtge. limited to $5,000,000, of which,
only about $500,000 will be issued at present.
The Paragould Southeastern Ry. is a line 37.26 miles long, running from
Paragould, Ark., on the St. Louis Southwestern, to Blytheville, being a
close connection and a valuable feeder.
An issue of $100,000 1st M. bonds '
of the Paragould Southeastern Co. matured on July 1 1913.
The St. L. &
S. W. owned $56,000 of these bonds, as also 56% of the stock, and had made
advances amounting to several hundred thousand dollars for the practical
Nashv. Chattanooga & St. Louis Ry.,
St. Louis Iron Mountain
owned or
Division 1st M. Gold Bonds.—
received except upon such terms as the com¬
impose.
Depositaries: Columbia-Knickerbocker Trust Co., 60 Broadway, N. Y.,
and St. Louis Union Trust Co., St. Louis.
Compare V. 97, p. 667, 951.
mittee
,
w
and in
bonds will be
kR., long controlled.
Report.—See "Annual Reports."—V. 97, p. 729, 947.
Memphis (Tenn.) Union Station Co.—Ojfering of Guar¬
anteed Bonds —Potter/Choate & Prentice, N. Y., are offer¬
ing, by adv. on another page, at 101% and int., yielding
4.90%, $2,500,000 1st M. 5% gold bonds, dated Nov. 1
1913 and due Nov. 1 1959.
Interest M. &N. Authorized,
$3,000,000; issued, $2,500,000.
Denomination' c*$1,000;
r*$l,000 and multiples.
A circular shows:
These bonds are issued to provide funds for the retirement of $2,100,000
2-year 5% collateral gold notes maturing Nov. 1 1913 and for improvements
and betterments.
The unissued bonds are reserved, for additions and im¬
provements to the property.
Trustee, Bankers Tr. Co., N. Y. „
Guarantors, Guaranteeing, Jointly and Severally, Both Principal and Interest
Endorsement on Each.'
proxy
at the annual
majority of the bonds of this issue (other than the separate
series of $5,000,000 held in France) having been deposited
under the agreement of May 28 1913, the bondholders' com¬
mittee, Willard V. King," Chairman, has extended the time
for deposits to and incl. Nov. 1 1913, after which time no
RR.—Purchase.—'The stockhold¬
authorized the directors to arrange for the pur¬
property, &c., of the South & North Alabama
of Bonds by
Texas & Mexico
New Orleans
Taxes).
Louisville & Nashville RR.
,
o
A
Louisville & Nashville
ers on
.
All
...
6%
'
v
stockholders are invited to be present in person or by
the meantime to send to the committee their proxies for use
meeting on Nov. 10.
See V. 97, p. 951, 888.
income
Revenues.
,
ml Oct. 13,
Co. at 2:30 p.
Kanawha & Michigan
Operating
Net(after
June 30.
Year—
.
RR.—Notice to Shareholders.
—A committee consisting Of Samuel W. Fordyce and Albert
T. Perkins, appointed at a meeting of the stockholders held
in St. Louis Sept. 29 to consult with stockholding interests
not represented at said meeting, gives notice that it will
report at a meeting to be held at the St. Louis Union Trust
interest and
(See
.
San Francisco
St. Louis &
purposes.
5%
1703.
V. 96, p.
approximately $14,769,000 per year for the company's
This is $5,409,000 in excess of the $9,360,000 required for
1% sinking fund on the entire $156,000,000 of bonds.
full particulars, V. 97, p. 452.
See also V. 97, p. 950 )
take out of net
own
of Pref. Stock.—The committee of
shareholders, Tompkins C. Delavan, Chair¬
asks for deposits of said stock with the Columbia-
Rutland RR.—Deposits
Shown by Passengers Carried and Gross Revenue.
(000,000 omitted.)
(June 30 Years.)
1905. 1906. 1907. 1908. 1909. 1910. 1911. 1912. 1913.
Pass, carried, No_
339
395
449
483
514
562
578
607
634
Gross revenue.._
$16
$19
$22
$24
$26
$28
$29
$31
$32
Contracts with the City.—Before the city receives any return on its invest¬
ment of $66,000,000 in the new lines, the contracts entitle the company to
Growth
It was contended that under the terms
be done at actual cost.—V. 97, p. 888,730
minority pref.
available for interest will average $13,-
fifth year, the annual net income
engineering expenses.
contract, the work is to
tration and
*
fund of 1% per annum, payable semi-annually,
amount of $156,000,000 of First and Ref. Mortgage bonds
and before the expiration of the leases or franchises.
cumulative sinking
A
11% if
stipulated 17 months.
3 rejected the proposed arrangement
between the city and the Interborough Rapid Transit Co. for the completion
by its subsidiary, the Rapid Transit Subway Cons. Co., of the Steinway
tunnel at cost (estimated at $500,000 to $700,000), plus 10% for adminis¬
the work is completed within the
The Board of Estimate on Oct.
will retire the full
before maturity
competitive bidding), with a bonus of about
received after
offers
United Railways of St. Louis.—Guaranteed Bonds Of¬
fered.—Having sold the greater part of the issue, the Missis¬
sippi Valley Trust Co., Mercantile Trust Co. and Francis,
Bro. & Co. of St. Louis are offering at 98 and int., yielding
5
%%,„ the unsold portion of the
Union Depot &
$1,000,000 Compton Heights
1st M. extend-
Merchants' Terminal RR. Co.
1026
THE
ed 5s, due July 1
and int. on any
CHRONICLE
1923, but callable after July 1 1914 at 102 XA
interest date on 60 days' notice.
Principal
[Vol.
-Federal .Sugar
The
xcyii.
Refining Co.—Stricken from List.—
Governing Committee
of the N. Y. Stock
Exchange
Oct.
on
9 passed
($1,000) and interest guaranteed by endorsement on each
bond by the United
Railways Co. of St. Louis.
Trustee,
St. Louis Union Trust Co.
Interest payable J. & J. at Merc.
Trust Co., St. Louis.
A circular shows:
-
IP? Pre£er,red and common stocks of the company bestricken from the list for
failure to publish at least once in each
year and
^7^ fV7^
stockholders a statement of income and balance sheet. CompareV. 97, p. 804.
The franchise of this
Compton Heights Co. runs until Dec. 31 1942,
without regard to the franchise of the United
Railways Co., expiring 1948.
The property is one of the constituent
June 30.
companies of the United Railways
underlying issue of that company with a first
lien on the total mileage of the
important Compton Heights road, 12.58 m.;
also on about 7 acres of
city real estate used for car sheds and other corporate
purposes, and on the largest single power house used by the United Rys. Co.
tor the calendar year 1912 the United
Railways Co. earned about four
times the total underlying and suburban interest
charge, amounting (in¬
cluding interest on this issue) to $979,660 and leaving for subsequent,
charges $2,855,624.
The payment at maturity on July 1 1913 in cash out
of earnings of $750,000 of
underlying, issues (similar to this issue) saves
$42,500 per. annum on interest charges, which,
together with the reduction
in the interest rate from
6% to 5% on this issue, make a total decrease in
the underlying interest charges of
V.
$52,500.- ~~ 96, p. 1775.
Co., and these bonds
Oper.
Year—
1912-13
1911-12
Net
Revenues.
—
_
e
{after
RR.—Earnings.—
Fixed
Other
Taxes).
-$306,583
Income.
$1,465
2,784
1912-13, 3%
$42(290
^487992-.~JA,296
Of the dividends
paid in
and loss, but are shown above for the sake
Dividends
Balance,
Charges.
(6 %).
Sur. orDef.
$23,583
$36,000
def.$15,828
25,615
36,000
sur.17,465
($18,000) were paid from profit
of comparison.—V. 95, p. 751.
Gross
/
Net
& Power Co., Ltd.
Discount, Dividends
Balance,
orDef.
sur.$683,149
2,874,760
583,379
600,562
def
17,183
Tnere was sold
during the fiscal year 1912-13, 22,688,614 lbs.
copper fine(rr o!Laveraseij J?" 16039; 324,336 ozs. silver fine at an average of .61179;
?o,rr"
Jo??"??
1911-12
are an
Wrightsville & Ten
June 30.
Granby Consol. Mining, Smelting
r
'Profits. Depr'n, &c. (3%).
$1,214,599
$81,495
$449,955
io
$4,782,691
Sur.
-
-
119932-2
19i3^tasZSS3%9,271.-vn97TOpag7ei8!
has
^ t0tal SUrP'US °n JUn6 3<>
289.
Towing Co., Cleveland.—Time Extended.
The U.
S. District
Court,at the request of the U.S. District
extended the time for
submitting
of the company
to submit a
from Oct.
1 to Nov.
report.—7V. 97,
p.
Attorney,
a plan for the continued operation
1, the Government not being ready
301.
Hamilton-Brown Shoe Co.,
St.
Louis.—Dip.
Omitted.
The directors have
decided to omit the declaration of the usual
3 H%
quarterly dividend on the $4,000,000 stock, as
paid from Jan. 1912 to July
1913, both inch, with 3% extra in Jan.
1912.
President A.C. Brown
says that this is because of a judgment of
$445,000
obtained two months ago in favor of
the Wolf Brothers Shoe Co. of Cincin¬
nati, which claims the former
company's use of a trade name was an in¬
fringement on one used by the
latter.—V..96,
1843.-
p.
Independent Brewing Co*, Pitts.—Back Divs. Paid.-—
INDUSTRIAL, GAS AND MISCELLANEOUS.
American Express
lated dividends
An agreement has been made with the Union Pacific RR. and the Chi¬
cago & North Western Ry. by which the express company binds itself to
route all passenger, freight and
express traffic handled by its European and
English offices destined for San Francisco over the lines of the said railway
companies.
The life of the agreement is indefinite and may be terminated
at the option of either of the
contracting parties.
Traffic having San Fran¬
cisco as its terminal point will go over the New York Central to
Chicago and
thence over the North Western and Union Pacific to that
city, and that
destined for Southern California will
go over the same route as far as Salt
over the San Pedro Los Angeles & Salt
Lake route.
Lake City and thence
—V.
97,
p.
178.
American
Locomotive
,
A circular dated Sept. 6 1913 has been sent to the stockholders
by Isaac
M. Cate, soliciting proxies to be used at the annual
meeting Oct. 21.
Earlier in the year Mr. Cate addressed to the executive committee numerous
charges against the officers and directors.
Your board accordingly on
Mar.
26 appointed an 'investigating committee consisting of Thomas
Thacher, of Simpson, Thacher & Bartlett, our general counsel, and direc¬
tors John W. Griggs
(ex-Attorney-General of U. S. and ex-Governor of
N.J.) and Albert H. Wiggin, Pres. of the Chase Nat. Bank.
This commit¬
tee engaged John Havron, former Pres. of
Rogers Locomotive Works, to
examine the books, papers, contracts and
practices.
Mr. Havron submitted
his report on Sept. 18.
The great amount of detail required to inquire into
operations extending over seven years have rendered it impossible for the
committee to complete their investigations, but
they are proceeding as
rapidly as possible and we believe that their report when issued will be
thorough, impartial and worthy of confidence.
Mr. Havron reports that "after over three months'
investigation, during
which time a careful scrutiny of bids, bills and
correspondence covering the
entire period of the company's existence was made, not a bit of
evidence of
corrupt practice on the part of the company's officials was found."
Some
of the business methods and
arrangements, however, can probably be im¬
proved, as the committee will specify in its report.
We believe that,the
present board may be relied Upon to execute any necessary changes.
The particular object of Mr. Cate in his
54-page circular, it appears, is to
restore to power as officers certain men who about the, time of the accession
of the present President severed their relations with the
company.
these suggested charges of Mr. Cate are shared
far
How
by the gentlemen in
do not know.—V. 97, p. 888, 594.
we
American
Shipbuilding Co.—New Directors.—
.
Hoyt, Robert L. Ireland, Samuel Mather, H. H. Porter, Edward Smith,
G. A. Tomlinson, James C. Wallace and Russell C. Wetmore.
Old Directors Retired:.—R. B.
Wallace, H. M. Hanna, P. H. McMillan,
A.M. Joys and' F. T. Gates.
Wm. L. Brown declined re-election
Earnings.—For
June 30.
Year—
1912-13
1911-12
Net
-----.
p.
Pref. Divs.
Balance,
$553,000
553,000
553,000
Surplus.
$53,474
27,699
84,218
(7%).
$243,400
802,528
954,862.
.-
97,
«
Depreciation,
Maint., Ac.
\
Earnings. '
-—$849,874
1910-11
—V.
ending June 30:
year
•
Chairman and place was left open.
as
221,829
317,644-
597, 446.
American Telephone & Telegraph Co.—-Notes Sold.—
The company has endorsed and sold through J. P.
Morgans Co. and
Kidder, Peabody & Co. $10,000,00Q six months' notes of some of its sub¬
sidiaries.
Interest
company
was
about.5)4%
discounted in advance, making the loan cost the
annum.—V. 97, p. 952, 523.
per
Amer. Water Works & Guar.
Co.—Payment of Coupons.
The coupons due Oct. 1 on the 6% notes of the XTnited Water &
Light
Co. and 5% bonds of the St. Joseph Water Co. are
being paid,on presenta¬
tion at the Farmers' Loan & Trust Co. of New York.—V.
97, p.. 952, 598.
Burns
Bros., Inc., New York .—First Common Dividend.
l]i% has been declared on the $5,500,000 common stock, payable Nov. 15 to holders of record
Nov. 1.
Checks will be mailed.—-V. 96, p. 1023.
—An initial dividend of
Butler Bros.,
Chicago.—Stock Increase, &c.—
The stockholders will vote
on
Jan.
21 next
.
increasing the authorized
$1,000,000 is
1, $2,000,000
will be offered to the holders of record Feb. 2 for
subscription at par, the
new stock to be paid for in cash on
Feb. 10, and the remaining
$2,000,000
is to be held in the treasury for future distribution.—V.
96, p. 288.
on
stock from $10,000,000 to $15,000,000.
Of the new stock,
to be paid as a'10% stock dividend to holders of record Feb.
.
Commonwealth
A
Edison
Co.—Dividend
on
quarterly dividend of 2%
8% Basis.—
has been declared on the stock, payable
18, comparing with 1%% quarterly from
May 1911 to Aug. 1913 inclusive, increasing the annual rate from.7
% to 8%.
Nov.
1
to holders of record Oct.
1907.
1908.
97,
Previous Dividend Record (,Per Cent.)
1909.
1910.
1911.
pSV 44?.
6
1912.
^
Consolidated Gas, Electric Light & Power Co. of Bait.
Corn Products
a
director to succeed George
Refining Co.—Bonds Called.—
One hundred and fourteen ($114,000)
25-year 5% sinking fund gold bonds
dated Oct. 1 1906 for payment at
par and int. on Nov. 1 at Title
& Trust Co.. New York.—V. 96.
p.
Distillers' Securities
June 30.
or
Gross
Net
Corporation, N. Y.—Earnings.—
Bond
Earnings.
$1,152,663
$793,096
1,320,228
793,046
Guarantee
1492.
'
Year—
Profits.'
1912-13-$3,046,165
1911-12- 2,641,780
—V. 95. p. 1686.
Interest.
Dividends
Paid.
(1%)$353,168
(2%) 687,775
*
Balance
Sur. orDef
$6,398
def.160 593
sur.
plan.
scrip, due
tion of the
common
stock in amounts called
will not bear inter¬
Non-assenting holders will
receive payment
July 31 1920, without interest, or at an earlier date at the
op¬
company.
The scrip held by the
non-assenting stockholders
is convertible
by them into pref. and common stock in accordance
with the
proposition of July 15 last.
Compare V. 97, p. 804, 447, 240, 179.
Lackawanna Steel Co.—Combined Results.—For3&9mos.
Earnings for 3 and 9 Months ending Sept.. 30.
"■
Total
Months—
Int.
on Bds.
A Notes.
Income.
1913—-.$2,007,724
S.F. A Ex¬
1,254,986
Nine Mos.—
Deprecia¬
tion, Ac.
$347,609
322,301
haustion.
$437,417
437,488
$113,495
108,941
Balance,
Surplus.
$1,109,202
386,257
$5,521,193
$1,312,328
$345,200
999,266
$2,864,398
1912
2,455,817.
1,312,471
270,712
851,603
21,030
There was also a special profit on sales of assets,of
sub. companies for the
nine months ended Sept. 30 1913 of
$267,201, making the surplus for the
period $3,131,599.
192-3
The unfilled orders on
Sept. 30 1913
569,977 in 1912.—V. 97.
p.
Lake of the Woods
Year to
Net
Aug. 31—
255,945
gross
tons, against
-
v-
Milling Co.—Earnings.-—
Int.
►
Profits.,
.$549,677
457,012
1912-13
were
120.
Pref. Divs.
(7%).
$105,000
on
Bonds.
$99,000
Common
-Dividends.
(10%)$210,000
Balance.
Surplus.
$135,677
83,871
100,141
105,000
(8%) 168,000
on common stock in
1912-13 include 2% bonus in addition
regular 8%.
The total surplus on Aug. 31 1913, after writing off
$50,000 of good-will, trade-marks, &c., and also $50,000 from property
valuation, was $853,135.—V. 96. p.
Dividends
to the
j358.
Maritime Telegraph & Telephone Co.,
Ltd., Montreal.
The directors, it is stated, have decided to increase the dividend rate
from 4 to 6% yearly,on the $850,000 common stock
by the declaration of
a quarterly
payment of 1H % to be made at the next meeting.
An initial
payment of 1% was made in June 1912 (V. 95, p. 424).
The capitaliza¬
tion consists of $850,000
common, $1,000,000 6% pref. and $1,189,600
6% bonds.
\
Dec. 31.
Gross
Year—
Net
Earnings.
-$500,543
230,462
556.
—
—V. 96, p.
Bond
Earnings.
$344,527
166,637
Re-
Divs.
Interests serves.
$84,423
$168,627
42,545
84,399
Paid.
Balance,
Surplus.
$64,500 " $26,976
20,633
19,060
,
Massachusetts Lighting Cos., Boston.—Ann. StatemH.
Income Account Mass.
19 in
-
Lighting Co. and ;20 Companies in 1912-13, against
1911-12, Controlled by Stock Ownership.
Income.
Op. Exp.
1912-13-$1,366,508
1911-12-
$875,920
1,213,366
Net.
$490,588'
814,193
Interest. Divs. (7%). Bal.,Sur.
$126,080
$299,553
$64,958
115.139
283,682
352
399,173
Balance Sheet June 30.
Assets—
1913.
1912.
Liabilities—
1913.
1912.
Stock
$3,804,553 $3,486,653 Share capital.$4,306,900 $4,246,900
Notes.receiv__
951,824
957,300 Notes,&c., pay.
121,749
12,420
Cash-..30,043
153,624 Div., July—
75,371
•
74,321
Accounts
reShare prem__
283,6701
362,178
ceivable93,583
,98,242 Surplus.
92,313/
,
Total
$4,880,003 $4,695,818
Total .14,880,003 $4,695,818
Indebtedness of subsidiary cos. not reported.—V. 97, p. 526.
Milwaukee & Chicago
Breweries, Ltd.— Div. Increased.
A dividend of 3%, less income tax, has been declared payable Oct. 31 to.
holders of record Oct. 15On May 15 last 1%% was paid and on Nov. 30
and May 15 1912 VA% each.—V.
95y p. 683.
Colony Gas Co., Braintree, &c., Mass;—Bonds.—
are placing at par and int. 1st M.
5% gold bonds dated Dee. 1 1911 and due Dec. 1 1931 »F,
Old
E. M. Farnsworth & Co.
Interest
J.
(trustee).
A
lst~M.
&
D.
at
Commonwealth
Par $1,000 (c*&r*).
Trust Co., Boston
The bankers report in subst.
all
property now 'owned or hereafter acquired;
Massa¬
chusetts gas cos. are forbidden to issue bonds in excess of 50% of cost of
construction, but in this case the Gas Commission has, at the company's
request, authorized bonds for only 40%, which means that each $1,000 bond
is secured by $2,500 of property;
Has 100 miles of high-pressure mains
and new high-pressure plant of modern design in East Braintree, on Fore
River, present daily capacity 400,000 cu. ft., which can be increased at
small expense to 1,000,000 cu. ft. as businass develops.
Franchises without
time limit in Braintree, Weymouth, Rockland, Abington, Whitman and
Hingham.
Since Dec. 1911 has been serving the five towns first named,
on
population in 1910 40,636, increase 22% in 10 years.
Franchise in Hing¬
ham received April 21 1913, adding 4,965 permanent population and
making
a total of 45,601, or now upwards of 50,000.
Largely a suburban terri¬
tory closely connected with Boston, but also has large shoe and other manu¬
facturing enterprises.
For future development has the South Shore dis¬
trict with its large summer colony and growing permanent population.
April.
512
Record of
Meters in Use, Showing Rapid Growth.
—1912—
July.
1,200
———1913-
October.
1,888
January.
April.
July.
2,229
2,259
2,698
Sept. 22.
3,125
Capitalization authorized by Gas & El. Lt. Commission, and issued:
1st M. bonds auth. $338,000, issued $298,000 (mtge. limit
$1,000,000);
pref. stock auth. $254,500, issued $144,000; common stock auth. $254,500,
issued $154,000.
Earnings for Years ending June 30.
.
Gross.
Net.
Other Inc.
Total Net.
Bond
Int.
Bal.,Sur.
$49,050
$16,119
$6,362
$22,481
$9,829
$12,652
1913-14(est.) 80,000
30.000
6,500
36,500
16,000
20,500
Dividends on the pref. stock are now being paid at rate of 5%
per annum.
For the quarter ending Sept. 30 1913 the output was
16,843,000 cu. ft.,
showing a gain of 32% over the preceding quarter and a gain of
59% over
the same quarter of last year.—-v., 97, p. 668.
r
■'L
For Other Investment News
/
accumu¬
The pref. shareholders
July 15 will receive pay¬
Scrip for the stock and fractional shares
be entitled to dividends.
in
—
Thomas Aitken of London has been elected
Cator.—«V. 97, p. 668, 53.
pref. and
tor in the
est
1912
1911
New Directors.—Alfred L. Baker, Frederick A.
Brown, H. A. Christy and
A. A. Sprague 2nd and Stow J. Murphy, .
Old Directors Re-elected.—L. M.
Bowers, William L. Brown, James H.
the
on
pref. stock up to July 31.
who have assented to the
proposition submitted on
ment at once in certificates
of
Three
Co., N. Y.—Official Circular.—
Directors Harry Bronner and George R. Sheldon, in a circular
dated at N. Y. City, Oct. 1 1913,
say in brief:
queistion,
^dividend ,°f 25 H% has been declared in full
payment of the
.
Co.—Agreement for California Traffic.
,
see
pages
■
1049 and 1050.
v
1027
CHRONICLE
THE
Oct. 11 1913.]
jepcrris and gnarnxjetds.
PUBLISHED
ADVERTISEMENTS.
AS
i_
SIXTY-SECOND ANNUAL REPORT—FOR THE
.
-i -ii-in-
"i -i
•
■»n^inif>in«^in<**ir^v<^<^rii*irinriirM*wv>rx'%»^jm,njm[|ij(in>-
n—r-i~i —i"*-~-~—
RAILROAD COMPANY
LOUISVILLE & NASHVILLE
THE
.
FISCAL YEAR ENDED JUNE 30 1913.
til
,
Louisville,
.....
Ky.,
Louisville
of the
Stockholders
the
To
"
&
Brought forward
1913.
October 1
Redeemed—
Evansville Henderson
Division Gold
:
Railraod
Nashville
Company:
Board
The
of
Directors
of
for the fiscal
lubmits the following report
Mortgage
Gold
MILEAGE.
Operated.
Lines Owned and
7.
"
L
221.88
214 29
.
$69,000
784,000
5.46
June 30 1913, total
Sheet, Table III) —.........
4,819.86.
3,929,000
Deposited in Trusts as Collateral—
Held in Sinking Funds—_.
962,000
*
—
—
-
14'155'339
is Interested as Joint Owner or
Outstanding
Total
.
June 30 1913
St. Louis Ry. (a majority of the
Capital Stock owned)....
—
975.85
Central Transfer Railway & Storage Co., Louisville (onehalf of the Capital Stock owned)
...
.67
Georgia Railroad and Dependencies (Interested as joint
lessee)
a
._A.__. — 571.00
Chicago Indianapolis & Louisville Ry. (a majority of the
Capital Stock owned jointly with the Southern Ry. Co.) 616.60
Louisville Henderson & St. Louis Ry., lass mileage of Louis¬
ville & Nashville RR. operated under trackage arrange¬
ments (a majority of the Capital Stock owned)..
181.70
Woodstock & Blocton Railway (one-half of the Capital
Nashville Chattanooga &
Stock owned)..
rangements:
.
Woodstock & Blocton Ry
Nashville Chattanooga & St. Louis Ry
Louisville Henderson & St. Louis Ry
hands
of public,
136,078,500
■
■
Fifty-Year 4% Gold..
$4,000,000
Atlanta
Knoxville &
Cincinnati
Division 4% Gold.
4,500,000
Equipment, Series "A" 5% Gold.. 6,500,000
Unified
: :
.
$15,000,000
.
,
$14,211,500
of public.
32,000
Lexington & EastermRy. General Mortgage
Louisville & Nashville-Southern, Monon Col¬
lateral, Joint Bonds—Southern Ry. Co.'s lia¬
transferred
bility for one-half of bonds owned,
from Bonds in Treasury to
"Marketable Se¬
curities"
15,500
...
—
trackage ar¬
$15,047,500
Deduct—•
7.73
including
Sinking Funds,
Redeemed and Un¬
redeemed
Bonds
Bonds drawn for
50.84
.26
...
$150,290,000
*
Increase in Bonds outstanding in hands
Accounted for as follows:
r
Bonds Sold—
2,755.79
Lres—Mileage used by this Company under
of public,
in
,
402.24
—
in hands
Debt
Bonded
June 30 1912—
RR. (a majority of the
Capital Stock owned jointly with the St. Louis & San
Francisco RR. Co.)
—„■—
Debt
Bonded
—
Outstanding
Total
7.73
....
New Orleans Mobile & Chicago
>
•
$9,264,339
Treasury
In
Lines Operated Under Their Separate Organiza¬
tions in which this Company Owns All or a Majority of
Lessee.
$164,445,339
■Less—
Bonds Owned (see page 26)—
II.
or
(see Balance
issue
Debt
Bonded
-4,923.36
_:
9,249,839
last year.
Net increase over
6.46
Capital Stock
2,000
1,313.86
—
Average mileage operated during the ye$ir,
the
2,000
—
(4) Owner of entire Capital Stock, property operated sep¬
arately—operated by this Company under trackage ar¬
—
4,000
61,000
Gold
Atlantic RR First
Mortgage Gold—
...
Henderson Bridge Co., First Mort¬
gage Gold———
&
Pensacola
& St. L. Ry.—'Operated under
(3) Owned, leased to N. C.
trackage arrangements
rangements
Total operated
715,000
Nashville
General Mortgage
xL;''''L LVv:- LLxv
758.64
119.05
for
Gold
Division
-..—3,597.58
89,000
25,000
Evansville Henderson &
Miles.
'
(1) Owned—Property
deeded
—
(2) Operated but not owned—
(a) Operated as owner of entire Capital Stock—
(b) Operated under lease—_______— fc—_.._r
(c) Operated for account of owners. r —
(d) Operated under trackage arrangements
-
—~r—
Presented
(Not
Payment)—
.
First
-
Unredeemed
'
$106,000
495,000
RR
1913:
..
$10,033,839 $155,195,500
& Nashville
Mortgage Gold
Pensacola Division First
ended June 30
year
...
General Mortgage Gold
Pensacola &
Atlantic
Company respectfully
your
—*—
Sinking Funds—
Bonds Drawn for
58.83
Bonds purchased
-2,696.96
$784,000
for Sinking Funds
56,000
$840,000
III. Lines Owned by this Company but
,
other
Operated by
Less—
Bonds withdrawn from Treasury
Companies.
Road)
— .
Less—Mileage operated by this Company under
836,000
trackage arrangements
•
.
.
254.20
.
-
per
5.46
—
Total mileage
Total mileage June 30 1912
The General
20.71
269.45
—
—
—
—
—
..7,889.77
..7,947.83
given in -detail in Table No. 1,
as
$14,654,818 73
Operating Revenues, 24.64 per cent
Net
Taxes
—
1,761,626 20
-
—
— —
144.82
40.00
$1,248,184 55
1,084,744 07
637,972 49
From Invastments
From Interest
184.82
':■>V .'.'7.
Lexington & Eastern Ry.
Tuscaloosa Mineral RR
■'v
Additions—■
From Outside
x
'—
Lease
126.76
Total Income..
:
Dedxictions from Income—
—
Interest
on
v—-------
Bonded Debt*
3,057,532 17
i
Bonded Debt, June 30 1912, total issue......
—
■
Cincinnati Divi-
1
\
;
Gold..
__v
1,157,000
Equipment, Series "A" 5% Gold.6,500,000
sion 4%
268,761 14
61,384 44
185,953 24
'
•
/
7,680,363 44
$8,270,361 26
;
1,815,839
$10,001,839
32,000
Lexington & Eastern Ry. General Mortgage
'
745,329 06
Sinking Funds
[
Reserve for Doubtful Accounts^
•
'
•
1.448 73
"
—
.
x
•
$6,417,486 83
— -
—_.r
Operation of Georgia Railroad—Loss..
.—$155,195,500
'
$529,000
$15,950,724 70
-
•
Rents
Bonds Issued—•
.
.
66,203 00
.... —
Other Interest
BONDED DEBT.
.
Georgia Railroad."
;
...
.
20,428 06.
—
5.39
58.06
Madisonville
Hartford
&
Eastern
Railroad First Mortgage 5.
Operations
20.82
———
Unified Fifty-Year 4% Gold
...
From Securities held under
100.55
....
Sundry net additions
Atlanta Knoxville &
•
From Rents
& Chicago RR
Frankfort & Cincinnati Ry
•—
"
$12,893,192 53
„
Other Income—
.
,
.
New Orleans Mobile
*
Results,
page 20, are here summarized.
Operating Revenues
$59,465,699 14
Less Operating Expenses, 75.36 per cent— 44,810,880 41
,
Accounted for as Follows:
*
$14,211,500
above......
58.06
Decrease
Deductions—
shown
248.74
...
...
as
GENERAL RESULTS.
Prince¬
Ky. (leased to Ohio Valley Ry. Co. at $12,039 70
annum)—
Increase
-
Clarksville & -Princeton Branch—Gracey, Ivy., to
ton,
4,000
and canceled for Sinking Funds
Paducah & Memphis Division (leased to Nashville
Chattanooga & St. Louis Ry. at 5% on cost of
$10,033,839
South
in
&
North
Alabama" RR.
Company deficit
...1
above)
(included
—
109,937 14
Loss Account
$8,380,298 40
The balance to credit of Profit and Loss Account amounts to $40,743,870 09.
For details see Table No. II., page 21.
Net Income carried to Profit and
GROWTH OF TRAFFIC
The
growth of traffic for the past ten years is shown by
the following table.
Operating
Operating
Operating
Revenues
Operating
Expenses
1
Revenues.
Expenses.
Revenues.
Per Mile.
Per Mile.
1
Operated.
,1912- •1913.
4,819.86
$36,913,792
38,517,070
43,008,996
48,263,945
44,620,281
45,425,891
52,433,381
53,993,740
56,211,788
59,465,699
$25,141 ,548 27
26,490 ,020 97
30,933 ,463 71
35,781 ,302 54
*33,594 ,291 05
*29,627 ,499 48
*34,985 ,578 78
*38,479 ,822 61
*39,626 ,327 44
*44,810 ,880 41
$11,802 ,244 46
1910- 1911.
1911- ■1912.
3,618.19
3,826.31
4,130.91
4,306.33
4,347.80
4,393.11.
4,554.30
4,598.39
4,709.93
YEARS.
1903- •1904.
1904- •1905.
1905- •1906.
1906- •1907.
1907- •1908.
1908- •1909.
1909- 1910.
♦
Net
73
72
23
20
16
45
94
78
30
14
Does not include Additions and Betterments
12,027 ,049 75
12,075 ,532 52
12,482 ,642 66
11,025 ,990 11
15,798 ,391 97
17,447 ,803 16
15,513 .918 17
Operating
$6,948 65
57
37
50
67
10,262 72
$10,210
10,066
10,411
11,207
10.340 26
11,512 94
.
16,585 ,460 86
14,654 ,818 73
heretofore included in Operating Expenses,
11,741 88
11,934 74
12,337 64
.
6,923
7,488
8,309
7,726
6,744
7,681
8,368
8,413
9,297
12
29
00
73
08
88
11
36
13
Operating P. C. of Ex¬
penses to Oper¬
Revenues
ating Revenues.
Net
Average
Miles
Per Mile.
$3,261 92
3,143 25
2,923 21
2,898 67
2,535 99
3,596 18
3,831 06
3,373 77
3.521 38
3,040 51
68.05
68.77
71.92
74.14
75.29
65.22
66.72
71.27
70.49
75.36
1028
THE
CHRONICLE
ADDITIONS AND BETTERMENTS—ROAD.
follows:
Right of
.
Protection of banks and drainage
Grade reductions and changes of line
.
_•
_
__
___,
Improved frogs and switches
Track fastenings and appurtenances.
Additional main tracks..:
__
...
__
spur tracks
__
Terminal yards...
Fencing right of way...
-
i-L
Improvement of crossings under and over grade
Elimination of grade crossings.
.
.__
Interlocking apparatus..
Block and other signal apparatus.
...
.....
Telegraph and telephone lines
Station buildings and fixtures
Roadway machinery and tools
Shops, enginehouses and turntables
..
...
_
'.___
;.
Shop machinery and tools
-----
Water and fuel stations
■:
Grain elevators and storage warehouses
Dock and wharf property
Other additions and
...
...
betterments
road
'. Increase
•
;
and
Total
.
•
,
40— 403,002 59
.
charged
"I
to
4,209 20
Operting
Expenses
and
;
....
Reserve
for
cost
to
$2,510,827 85
16,807,270 32
_
Accrued
Depreciation—
$19,318,098 17
of
,
'
$129,063
57,032
1,532,859
31,963
•L.___
20
30
75
86
$1,750,919 11
144,169 50
Equipment turned
on
Locomotives
•
.
726 14
295 36
'
•
•
-
171 66—
:
a
°
-
of Frankfort & Cincinnati
'
Passenger Train Cars
Freight Train Cars
,:y
1,193 16
1,896,281 77
—
Balance to
credit of Reserve for Accrued
Depreciation—
Equipment, June 30 1913
$17,421,816 40
The above balance, $17,421,816
40, includes Depreciation on Equipment
of the Lexington & Eastern
Railway Company since December 31 1912.
15,706 77
-
120,249 82
SOUTH & NORTH ALABAMA RAILROAD
COMPANY.
Credits:
'
-yvy
3,71125
.
Depreciation—
Locomotives
1,573.20-- 115,739 40
,
*
$5,610,833 55
■i-V-Ve=—
„■
t
♦Renewals—
$127,063 20
Loco-
For three
2,000 00— 129,063 20
or sold
Six (6) changed to work
equipment
Freight Train Cars—
$57,032 30 '
19,434 26—
1,279 82
thousand one hundred tnirty-one
(3,131) destroyed or sold—
----$1,526,194 75
Twenty-six (26) Lexington & Eastern Ry.
.
*
freight train cars destroyed or sold...
6,665 00
Four hundred (400) changed to work
equip¬
ment
:y/;';''-
...
2,004 98
...
of
Reserve for Accrued Depreciation—
Equipment, South & North Alabama RR., June 30 1913
♦The difference between these credits, and the amounts
shown
IX is due to credits to Renewal Accounts for
in Table
Renewals
and credits to Renewal
Accounts occasioned by adjusting the difference between
depreciated value,
according to the Superintendent, of Machinery's appraisement, of cars
changed from one class to another, and the depreciated value shown
by
-$3,652,822 57
MAINTENANCE
$258,457 30
as
salvage from loco¬
of charges to other companies
motives and cars destroyed and on account
for cars destroyed on their lines; also to debits
32,163 86
Equipment,
-
$260,462 28
equipment destroyed—
Freight Train Cars
Balance to credit
$1,95870101)8
t
_.
'
•
$39,909 34
220,552 94
.
200 00—
^V '
'
y
For original cost of
$31,963 86
•
___i
Charges:-.
187,457 61-1,720,317 36
„.
Operating Expenses.
"
76,466 56
'
.
Total amount charged to
Balance, June 30 1912..
,«
Three
Net charges to Additions and
Betterments;
for the year (see see Table
VI,)..
$38,629 52
•
(3) Freight Train Cars destroyed
.
destroyed
Work Equipment—
»
Ninety-three (93) destroyed or sold.
One (1) car changed to freight train car.
$29,910 59
8,718 93
Freight Train Cars
'
i
'
Passenger Train Cars—
Twelve (12) destroyed
^
to
Accrued Depreciation
217 98
___
Ry.
Credits
Railway:
•_
Sixteen (16) destroyed or sold
One (1) Lexington & Eastern
.
amount
over to owners
23,861 76
•
$2,506,618 65
Cars—Dining Cars,
:; ?
'
'
motive
Renewals.
Depreciation
on
Equipment
changed to another class :
Passenger Train Cars
-.$11,698,89
Freight Train Cars
132,433 95
Work Equipment
36 66
12,672 02
train cars changed to
•work equipmentChanging safety appliances and equipping
..-'yva
596,671 75
Operating Expenses for Depreciation
Accrued
19
00
passenger
.
"
12,407 72
-
79.
.
Four hundred (400) freight cars changed to
Locomotives—
529,990 27
Passenger Train Cars..
Freight Train Cars
Work Equipment
.
.
Credits:
41,110 31
Equip¬
Locomotives
\-i
$274,280 38
with air brakes
•
equipment destroyed or
sold, credited to Additions and Better-
250 00
12,971 18
Three (3) steam wrecking cranes.$39,568 53
cars
to
-77','
-yV
13,163 45
<",'y
thousand, one hundred and fifty(3,157) Freight Train Cars des¬
For original
197,641 10-4.175,704 08
equipment
"
ments—
;
work
Six
(6)
1
95
$1,909,946 90
Equipment
Charges :
(231) bought
Amount expended 1911-1912.
09
40
_____
,
_____
Amount expended in 1911-'12.
'•
(17) Locomotives destroyed
■_
charges
'
,
71 04
Depreciation on Dinmg and Special
charged to Outside Operations..j.
$385,067 01
and betterments to mail apartment cars.
4,714
Train Cars—
Three thousand seven hundred thirty-two
(3,732) bought or built
3,807,906
Expenditures on new cars not completed
169,937
One (1) car changed from work
equipment.
219
Changing safety appliances and applying
Less—
•
42
'
Total
One(l)self-propelling pile driver.$12,890 00
,7:';
w___.
troyed or sold
For ninety-turee
(93) units of Work
ment destroyed or sold
;L
10,707 57—$616,387 48
Freight
Work Equipment— '
Two hundred and thirty-one
or built
.,•>
,
$437,680
78,9t3
1,345,390
47,861
For twelve (12)
Passenger Train Cars destroyed or sold
For three
and
Expenditures on new cars not completed
Changing safety appliances and additions
gears
Si
•
sold
Total
erroneous credit on account
of Frankfort & Cincinnati
Ry. equipment
Farlow draft
DEPRECIATION—EQUIP¬
v.,,
For seventeen
seven
North Alabama Rail¬
$605,679 91
Adjustment of
>
&
.
Freight Train Cars
Work Equipment
Floating Equipment
.
—
South
_________
Outside Operations
Balance June 30 1912
air pumps,
Chicago flange oilers
changing safety appliances
Passenger Train Cars—
Forty-one (41) bought or built._._T
$1,952 89
acquired by the
Depreciation—
'
Locomotives
Passenger Train Cars.
BETTERMENTS—EQUIPMENT
Forty-three (43) bought or built.
Equipping with glass water gauges, second
.
2,004 98
MENT.
♦Renewals—
$3,957 87
Betterments, Equipment,
■„>
•
"m;:-j'1
year.
Credits—
■■
Locomotives—
.v'
or sold
Company during the
.
7
1,019 89—
-.-$2,987,028 83
•
:
:.■>
'■■■■<
RESERVE FOR ACCRUED
The following expenditures for additions and
betterments,
equipment, were charged to Property Investment, Equip¬
ment, during the year:
Charges:
.v.:
:
or
■
$2,937 98
Net charges to Additions
and
for the year.
There was no equipment
Total for the year ended June 30 1913
(see Table VI.)._—$7,806,614 86
Total for the year ended June 30 1912
4,819,586 03
ADDITIONS AND
'7'■■■'
gauges
Freight Train Cars—
Three (3) destroyed
49,255 19
34,638 08
2,185,791 67
18,311 54
85,324 41
249,218 42
1,927 81
19,904 29
2,556,403 70
440,799 44
434,719 75
49,216 68'
1,830 41
12,039 43
31,555 33
227,221 67
165,598 26
397,683 26
20,559 93
103,880 21
76,117 85
115,163 52
Cr.2,133 82
19,272 81
100,514 57
-
Bridges, trestles and culverts
Credits
107 57
.
improvements
Increased weight of rail.___
v.-
Changing safety appliances
$411,692 88
•___
_
Sidings and
water
second air pumps and glass
Freight Train Cars—
way and station grounds
Widening cuts and fills
Tunnel
.
Equipping with
;
'
Real estate
xcvii.
SOUTH & NORTH ALABAMA
RAILROAD COMPANY.
Charges :
Locomotives—
During the year there were charged to Property Invest¬
ment, Road, expenditures for additions and betterments
as
[Vol.
Equipment Depreciation Register.
OF EQUIPMENT.
1903-1904. 1904-1905. 1905-1906.
1906-1907. 1907-1908. 1908-1909. 1909-1910. 1910-1911. 1911-1912.
1912-1913.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents.
Cents,
Locomotive repairs, per mile
Passenger Car repairs, per mile
Freight Car repairs, per mile
6.962
6.747
1.290
.820
1.267
.889
.
9.102
1.646
7.77-1
-
.865
9.090
8.092
1.546
1.542
.918
1.190
1.049
.745
7.884
8.492
1.292
1.591
.835
.739
•
8.770
1.531"
.
.
8.802
1.401
.914
1.113
All
equipment of the system in revenue service is provided with both air brakes and automatic
couplers, except freight
equipment, which is equipped complete with automatic
couplers only.
The number of freight cars equipped with air brakes
is 45,205, or 99.86
per cent.
EQUIPMENT OWNED.
_
Locomotives.
Louisville &
Nashville Railroad:
'
On hand July
1 1912.
Bought and built
Changed
or
Freight Cars.
Work
sold
"I
new
owners
"
16
4—
44,489
3,732
41
991
Frankfort & Cincinnati Railway
equipment transferred to
On
620
948
43
"
Changed
Destroyed
Passenger Cars.
Equipment.
V-
—
661
6
12
20
1,884
030
1—48,222
406— 2,522
400
1
3,131
93
20
3— 3,534
641
44,688
2—
—
94
hand.
971
South & North Alabama Railroad:
On hand July 1 1912...
Destroyed
50—
50
238—
238
2,428
—
3
On
hand..-
Lexington & Eastern Railway:
On
50
235
-
hand
14
-
w
14
346
67
:•
OCT. 11
THE
1913.]
1029
CHRONICLE
of the past ten fiscal years:
table shows the equipment on hand at the close of each
The following
LOUISVILLE & NASHVILLE
RAILROAD AND OPERATED LINES.
1909-1910. 1910-1911. 1911-1912. 1912-1913
1903-1904. 1904-1905. 1905-1906. 1906-1907. 1907-1908. 1908-1909.
Locomotives
501
Passenger Cars
779
.
865
896
535
559
572
573
590
40,589
1,503
43,019
1,429
998
611
41,720
1,421
44.564
36,633
1,289
33,241
1,149
30,905
Freight Cars
Work Equipment
971
928
899
745
705
515
676
—
39,528
1,452
1,035
620
655
44,727
45,269
2,495
■
1,648
i
,
1,884
OF SINK " work will be completed by March 1 1914 with the exception
of one of the bridges across Red River.
The old line between Athol and Jackson is being improved
11913
$8,400 00
PAYMENTS TO BE MADE ON ACCOUNT
ING FUNDS, 1913-1914.
Aug.
Sept. 1 1913
Dec. 1 1913
___Feb. 1 1914
- — — - ——---June 1 1914
Henderson Bridge Oo
Pensacola Division
Pensacola & Atlantic Railroad
General Mortgage
Newport & Cincinnati
26,250 00
121,000 00
106,700 00
—
Evansville Henderson & Nashville
_\_
Division
B^dpe Qo
645,700 00
13,890 00
July 1 1914
.-.--$921,940 00
Total
by renewing trestles, installing heavy rail and broken stone
ballast, and constructing ample passing tracks.
All of the
heavy rail on this reach has been laid.
The extension up the North Fork of the Kentucky River
from Dumont to McRoberts, a distance of 100.61 miles,'
completed and is now in operation.
Depots and
are being built, and industrial spurs and side
tracks are being provided at the coal mines and at the lumber
and timber industrial plants.
has been
GUARANTIES.
The
section houses
Company has guaranteed by indorsement or by agree¬
following obligations of other Companies:
the
ment
Issued.
Annual Charge,
Endorsement covers
principal and interest__$10,000,000 00 $500,000 00
Louisville & Nashville Terminal Company First
Mortgage 4% Gold Bonds—
Endorsement^
made jointly and
with Nashville Chattanooga &
St.
,
bonds issued
Col¬
Company and the Southern Railway
Company are each liable for one-half of the
principal and interest of bonds issued, $11,827,000.
One year's interest, $473,080:
this Company's liability one-half. Should
either Company default in its obligations to
the other, in respect of the bonds of this
issue, the pledged shares of stock belonging
to such Company so in default shall become
This
and be the
•
property of the Company not in
5,913,500 00
the bonds—
236,540 00
266,531 25
last year's report,
approaching completion.
The grading of the new line
from Athens, Ala., to Tennessee State Line, to connect with
the Lewisburg & Northern Railroad, has been completed and
track is being laid.
300.000 00
TUSCALOOSA MINERAL RAILROAD.
The construction of the Tuscaloosa
2,100,000 00
105,000 00
fage 4% Union Station Company. of the
lemphis lifty-year Gold Bonds
Endorsement, made jointly and severally with
Nashville Chattanooga & St. Louis Rail¬
way,
Southern Railway Company, St.
HARRIMAN
Company
and
St: Louis Southwestern
Railway Company, covers principal and
interest of the notes and bonds issuod.. .* •
TO
on
As
GRADES, COVINGTON
WINCHESTER.
the second
track and reduction of grades
Kentucky Division between Covington and Paris,
mentioned in previous reports, has been practically com¬
pleted, and line is in operation with the exception of about
one mile where the work has been delayed by heavy slides
from the mountain, slopes.
That part of DeCoursey yard
authorized to be constructed, together with engine housh,
the
on
turntable, &c., has been completed, and the yard is being
operated.
y The grading for the double track from Paris to Winchester
approaching completion, and the whole work will prob¬
ably be finished and line ready for operation early.in 1914.
is
NEW LINE,
WINCHESTER TO IRVINE.
65% of the graduation on this line has been com¬
pleted.
All of the property required for the freight yard
south of Irvine has been purchased, and the grading is nearing completion.
REVISION OF LINE,' IRVINE TO BE ATT YVILLE. •
'
'
,
.
This work will
probably be finished by December 31 1913.
except three have been filled, and the
greater part of the new heavy steel rail has been laid.
of
trestles
the
NEW LINE,
It is believed that
BEATTYVILLE
.
LEXINGTON &
per
EASTERN
The
operation
cent of the grading
RAILWAY.
Lexington & Eastern Railway, referred to in report
for previous year, was operated under its own organization
to December 31 1912.
From that date it has been operated
as a part of the L. & N. System.
The reconstruction of bridges on the old line to Jackson,
authorized in the fall of 1912, is well under way, about 60
per cent of the substructure work being completed, and it is
estimated that all of it will be finished by December 31 1913.
All contracts for the superstructure have been let, but none
of the shipments received. • It is believed that all of this
s
-
TO ATHOL.
this line will be ready for
early in the year 1914, about 65
having been completed.
com¬
.
.
Mineral Railroad
was
KNOXVILLE
stated in last
was
& EASTERN RAILROAD.
year's report, this road was completed
and placed in operation on March 15 1912, the operations
being conducted as a part of the system.
All of the capital ,
stock was then owned by this Company, but the title to the
property had not been transferred from the Harriman
Knoxville & Eastern Railroad Company.
By deed dated
Feb. 5 1913, the entire corporate property, rights ,privileges
and franchises of this road were conveyed to the Louisville
& Nashville Railroad Company.
MADISONVILLE HARTFORD & EASTERN
RAILROAD.
for the fiscal year ended June 30
1910, this line was completed and placed in operation on
June 4 1910, the operations being included with those-of the
system, as the entire capital stock is owned by this Company.
By deed dated Sept. 3 1912, the Madisonville Hartford &
Eastern Railroad Company conveyed all of its railways,
together with all rights, immunities, powers and franchises
to the Louisville & Nashville Railroad Company.
As mentioned in report
About
All
will
completed, with the exception of station facilities at Tusca¬
loosa, and placed in operation on Aug. 8 1912.
These fa¬
cilities were finished in the early part of the year 1913.
The
operations are included with those of the system.
Louis Iron Mountain & Southern Railway
The work
SOUTH & NORTH ALABAMA RAILROAD.
•
^
plete during the year ending June 30 1914 its double-track
and revision of grades between Birmingham and Decatur.
$2,500,000 First Mort-
REDUCTION OF
grading in connection with the reduction of graLdes
Division between
and Brentwood and between Athens, Ala., and
The South & North Alabama Railroad Company
1913.
TRACK AND
DIVISION.
Overtons
57,221 33
v
SECOND
DECATUR
is
"
•
—
_
&
Decatur, to which attention was called in
7H% annual dividend to stockholders is
guaranteed as rent.
Amount of Capital
Stock.
$3,553,750-Terminal Railroad Association of St. Louis—
One-fifteenth of interest on $21,458,000 Gen¬
eral Mortgage 4% Gold Bonds now out¬
standing—one year's interest, $858,320:
L. & N. RR. Co.'s proportion, one-fifteenth,
Georgia Railroad Lease—
/
■
The Company is liable jointly with the At¬
lantic Coast Line Railroad Company for
the yearly rent, under the lease of the Geor¬
gia Railroad, amounting to $600:000. This
Company's liability, per annum
Memphis Union Station Company—
Five per cent Collateral Gold Notes due No¬
1
NASHVILLE
and construction of second track on this
Nashville & Decatur Railroad, Rent Dividend—
Under lease of this property the payment of
vember
this line, also a high bridge and viaduct crossing the
River at Nashville.
About one-third of the
work on the tunnel has been completed; all of the steel for
the bridge has been delivered and about one-half is in place.
A gravity freight yard and necessary shop buildings are
to be constructed at Radnor, just north of Overtons.
The
work on the freight yard is being pushed rapidly, about onethird of the grading being completed.
on
The
default, which thenceforth shall be liable in
severalty upon all covenants contained in
Secured by deposit of
cent of the work required to form the road¬
completed.
There is one tunnel 1,600 feet
per
been
has
this line is being pushed as rapidly as possible.
Cumberland
101,400 00
2,535,000 00
....
Louisvitse & Nashville-Southern, Monon
lateral, Joint 4% Gold Bonds—■
on
Seventy-five
long
Louis
Railway, covers principal and interest of
V
The work
bed
severally
RAILROAD.
LEWISBURG & NORTHERN
South & North Alabama Railroad Company
Consolidated Mortgage 5% Gold Bonds—
PINE MOUNTAIN
'
RAILROAD.
The Pine Mountain Railroad Company was
under the laws of the State of Kentucky on
incorporated
Oct.. 13 1905
organized to build a railroad in Whitley and Bell,
Kentucky.
The first part of the line, extending
from Yingling to Chadman, a distance of 1.69 miles, was com¬
pleted and placed in operation Nov. 1 1905. Extensions were,
made to this line, and the mileage of that portion known as
the Pine Mountain Railroad—East, at the close of the pres¬
and
was
countres,
ent fiscal year,
extending from Yingling to Elk, a distance of
miles, with a branch from Surran to Chadman, a dis¬
tance of .31 miles, is operated as a part of the Cumberland
Valley Division.
The mileage of that part of this line known
as
the Pine Mountain Railroad—West, extending from
1.75
Savoy to Gatliff, a distance of 18.60 miles, and from Nevisdale
to Packard, a distance of 2.49 miles, was placed in operation
on Nov. 9 190S, and has since that time been operated
as a
part of the Knoxville Division, the entire capital stock being
owned by this Company.
By deed dated April 1 1913, the
Pine Mountain Railroad. Company conveyed its entirp cor¬
porate property, rights, privileges and franchises to the
Louisville <£ Nashville Railroad Company.' •. ',
^
The total mileage of
miles.
this road
on
June 30 1913 was 23.15
-
"
••
•
■;
1030
THE
CHRONICLE
EQUIPMENT ACQUIRED UNDER TRUST
Under
an
SALE OF SECURITES.
following securities have been sold during this fiscal
The
indenture dated May 7 1913 with the Fidelity
year:
and Columba Trust
Company of Louisville, Ky., Trustee,
this Company purchased the following
equipment:
V?,ified Fifty-Year 4%
4,500,000 Atlanta
20 Consolidation Freight Locomotives, Class
H-29.
4 Pacific Type Passenger Locomotives, Class K-3.
2 Steel Underframe Chair Cars.
*
600 Hopper-Bottom Coal Cars.
200 Ore Cars.
'
»
in
.
200 Flat Cars.
y '
The indenture provides for the delivery of the above
equipment to the Railroad Company by the Trustee when the
shall be received from the builders thereof.
18 Consolidation Freight Locomotives, Class H-29.
2 Steel Underframe Chair Cars.
.7 y-77
2 Steel Underframe Combination Baggage and Mail Cars.
8 Steel Underframe Baggage Cars.
14 Steel Underframe Non-Vestibule Coaches.
600 Hopper-Bottom Coal Cars..
N 1 Ore Car.
450 Box Cars.
■
100 Automobile Cars.
100 Flat Cars.
'44-.yyTyyy.y..;y;
100 Rodgers Ballast Cars.
•
mated total cost of additions and
,
improvements, including
equipment, aggregate more than $40,000,000 00, for
which amount all required funds have now been
provided.
r4"V/:;4>'vv
new
v'7,"',-y.y;yy
,
,
Attention is called to the
report of the
of the year's business.
details
.
K- The terms of the Equipment Trust Indenture require
the Company to pay the sum of seven million, two hundred
and twenty-six thousand, four hundred and twenty and
($7,226,420 25) dollars, of which sum seven hundred
and twenty-six thousand, four hundred and
twenty and
25-100 ($726,420 25) dollars were paid upon the execution
and delivery of the indenture;
the remainder, six million,
ive hundred thousand ($6,500,000 00) dollars, to be paid
fromjthe proceeds of the sale of Louisville & Nashville Railfoad Company Equipment Series "A" Five Per Cent Gold
rBonds, dated June 2 1913, covering this equipment, the dis¬
count on these bonds to be borne by the Railroad
Company.
TABLE NO.
Railway Operating Income:
$56,211,788 30
Rail Operations—Revenues,...
39,626,327 44
Rail Operations—Expenses, 75.36
$16,585,460 86
$385,737 92
393,916 84
January 8 1896.
The Board
which
the
Directors,
I.
•
V n
ACCOUNT.
1
"
.$14,654,818 73
$372,316 90
351,888 84
-
......
.
....
$14,675,246 79
1,761,626 20
1...
:
...
$12,913,620 59
....
:7y7;...
■■
►
.
$12,039 70
206,506 20
.
_
'
•
.
.
.
'
.
,
,
.
$236<830 12
502,432 00
32,401 00
65,583 00
Wv-i'yy..
,
Income from Funded Securities—
r
.
337,461 25
•
.
T
$337,461 25
V
623,396 37
'
'
.
$2,794,002 95
837,246 12
1
'
$313,080 95
620 00
,
-
313,700 95
,
Income from Unfunded Securities and Accounts.
7
7
,
"
-
Sundry bonds and notes maturing more than one year after date*.
From bonds held under Georgia Railroad Lease
•
,'
28,466 78
78,050 34
From stocks held under Georgia Railroad Lease
•
218,545 90
623,269 56
299,851 97
___i
.
.
"
._
Chicago Indianapolis & Louisville Railway stock
Nashville Chattanooga & St. Louis Railway Stock
Sundry stocks.
„
__
/.
...
' Hire of Equipment—Credit Balance
Joint Facility—Rent Income
Miscellaneous Rent Income
Net Profit from Miscellaneous Physical Property
^
20,428 06
......
Clarksville & Princeton Branch
Paducah & Memphis Division
T
8
$59,465,699 14
44,810,880 41
...
;
Income from Lease of Road—
$698,853 12
;
,
—
Railway Operating Income.....
Other Income:
yyv'7'. ■
V
'
.
,
...
...
$14,722,597 54
'
SMITH, President.
cent
per
Net Railway Operating Revenue
Railway Tax Accruals...
Dividend'Income—
WALTERS, Chairman.
M. H.
•
'
$16,577,281 94
1,854,684 40
236,830 12
430,656 00
31,367 00
'.yyy/'y,•.
.
,
For the Board of
^
Net Revenue—Outside Operations
$218,545 90
498,673 74
324,562 87
37,924 33
54,585 37
4,-
acknowledges the fidelity and efficiency with
and employees of the Company have
Net Revenue—Rail Operations, 24.64%
Outside Operations—Revenues ;
$12,039 70
206,506 20
on January 17
Director of the Company since
a
officers
Outside Operations—Expenses
*$8,178 92
Raoul,
tyy. y7y//:;
y
served its interests.
1.—INCOME
1912.
Comptroller for the
The Board records with
regret the death
1913 of Mr. W. G.
25-100
30
eleven million, nine hundred and
sixty-one
was
to
-
June
....
637,972 49
.....
Total Other Income..
3,037,104 11
_______________________
$17,516,600 49"
Gross
Income
Deductions from Gross Income:
'
Deductions for. Lfease of Other Roads—
;
Additions and Betterments on Nashville & Decatur RailroadGuaranteed dividend on Nashville & Decatur Railroad stock :
.
$129,481 84
.37,897 79
.$15,950,724 70
'
..
$11,420 59
118,06T25
"
•
i,
:7;..
; $167,379 63
..
•
'
.;
...
1
-
Accrued premiums on bonds drawn for
$7,142,598 13
185,953 24
6,417,486 83
79,500 00
-
7,429,717 86
_____
$8,521,006 84
109,937 14
South & North Alabama Railroad Company deficit for the
year, included in above
$9,734,421 21
Net Income
$8,630,943 98
___,
173,649 33
Disposition of Net Income:
Appropriations of Income to Sinking Fimds
i
1
$189,261 14
61,384 44
Reserve for Doubtful Accounts
$173,649 33
-
■
■
■
■
r
*
Deficit.
250,645 58
_
■
$9,560,771 88
-
'
Income Balance Transferred to Credit of Profit and Loss...
X
A;
' v 7'
$157,950 03'
540,678 05
46,700 98
/7 1,448 73
Sinking Funds
Total Deductions
$10,374,002 36
2:639,581 15
■
:
...
Miscellaneous Deductions—•
76,400 00
'
$118,061 25
"
Separately Operated Properties—Loss—
1
One-half of loss from operation of Georgia RailroadInterest Deductions for Funded Debt
!
Interest Deductions for Unfunded Debt
6,328,640 67
3,639 49
'
39,888 78
'•
■*'
Joint Facility—Rent Deductions
Miscellaneous Rent Deductions
....
'
•
,
"
—
-
524,868 16
41,670 18
■
,,
$118,061 25
"
Rents of other roads..—,r
increase
receipts from
capital stock amounted
$26,031,300 00.
This money was and will be required to
meet payments as work
progresses upon the great additions
and improvements referred to
above, all of which should be
completed during the year ending June 30 1914.
The esti¬
following equipment had been delivered and placed
in service:
: "■
'
\y?:; j'
#
an
It will be noted that
during the fiscal year the
sale of bonds and
subscription to the
On June 30
1913 the
1,255 All-Steel Hopper Oars.
3,960,000 00
6,370.000 00
thousand, three hundred ($11,961,300 00) dollars, making
tha par value of the full shares
outstanding on this date
seventy-one million, eight hundred and seventy-eight thou¬
sand, five hundred ($71,878,500 00) dollars.
■'
..
•
4%
On October 2 1912 the stockholders
authorized
the Capital Stock to
authorized
*
same
$3,740,000 00
Division
______
amount
v-'v'
f
80 Cabooses.
',-'.'7
100 Hodgers Ballast Cars. ■)- v ,>:>•;?< J
:
c
2,500 All-Steel-Hopper Cars.
.77'.7,.54
500 All-Steel Drop-Bottom Gondola Cars.
Cincinnati
seventy-two million ($72,000,000 00)
The privilege of
subscribing to the additional stock,
amounting to twelve million ($12,000,000 00) dollars, was
offered to the
stockholders, and on June 30 1913 the par value
of the total number of full shares issued of the
200 Automobile Cars.
'4
Gold Bonds, yielding
&
dollars.
.
600 Drop-Bottom Gondolas.
150 Stock Cars.
Knoxville
Bonds, yielding
«««
CAPITAL STOCK.
'
'
tAfi
6,500,000 Equipment Series "A" 5% Gold
Bonds, yielding.
2 Steel Underframe Combination
Baggage and Mail Cars.
10 Steel Underframe Vestibule Coaches.
5 All-Steel Postal Cars.
v
;
.'.7.
•77,
7
■
8 Steel Underframe Baggage Cars.
14 Steel Underframe Non-Vestibule Coaches.
950 Box Cars.
xcvii
-a-'..
-
INDENTURE.
[Vol.
■
■
$8,380,298 40
Surplus.
Note.—The Income Account for fiscal year ended June 30 1913 has
been prepared in accordance with the Classification prescribed
by the Intereffective July 1 1912.
In some respects this Classification differs from the Classification used in
report for the previous
year, making comparison impracticable in several instances.
One of the principal changes to which attention is called is the inclusion of
State Commerce Commission,
&c., of the Georgia Railroad, separately operated under lease.
•
.
r
•
-
-
.
.
operations,
•
'
-
-
'
'
.
.
"
'
ACCOUNT.
II.—PROFIT AND LOSS
TABLE NO.
1031
CHRONICLE
THE
1913.]
oct. ll
'
...
CREDITS.
fealance
$37,419,876 39
of this account June 30 1912
Transferred from Income Account
to credit
Credit Balance
o.oou.^ys 4U
$17,804 65
Pine Mountain Railroad Company prior to July 1 1912__
Amount received from South Covington & Cincinnati Street Railway Company on account of excess
number of passengers carried over Newport & Cincinnati Bridge during the calendar years 1907 to
^^Interes^accruoi
advances to the
on
1911, inclusive
which no bonds are to be received, charged against Net Income—.bonds in Sinking Funds and on uninvested deposits with Mortgage
$132,497 80
July 1 1908, closed off
_
-- ----period July 1 1909 to June 30 1912,
to "Property Investment-—Road -of property at Cincinnati, Ohio
Pay-roll's
prior
Unpaid amounts on~Audited
and Vouchers
to
Additions and Betterments, Nashville & Decatur Railroad for the
charged to Profit and Loss and Income Account, transferred
For difference between book value and amount realized from sale
For sale of lands in State of Alabama
of Frankfort &
Cincinnati Railway for the period November 1
v
■:
1
.
_
10 1913- — --.
payable August 9 1913
Cash Dividend, 3H%.
year—
-
.'.
.
j
Gold Bonds
& Cincinnati Division 4 per cent Bonds
"A" 5 per cent Bonds
Atlanta Knoxville
Equipment Series
'
—
^ 000 00
-40,338,581 08
Road-—
Equipment
$175,543,346 94
•
-
.
30 1907—
,,
1
-
Depreciation—Credit—•
Accrued
$175,543,346 94
'.
»
'
Reserve for
,
$23,964,894 73
11,392,528 62
-
(Table VI., page 29)---
:•
-$139,471,342 11
36,072,004 83
-
4
June 30 1913. •
-
Way and Structures, etc. — - —- — a —
Equipment
——
------
-
—
.
35,357,423 35
$210,900,770 29 ;
$5,541,560 65
17,421,816 40
-
*
22,963,377 05
69
$177,424,491 83
'
,
.
Securities:
Proprietary,
450.728 48
Issued or
Proprietary,
'
90
38
-a:'
Other Investments:
'* "'■
•
'
•
$2,540,213 40
11,361,577 37
—
.
".
—--■
,
-.-.$3,666,691 33
13,126 26-
J
—
•
$28,294,300 07
:
'
16
37
56
67
"$40,881,543
63
$182,001 00
■
'
-
' "
Cash..
j——,
Securities Issued or Assumed—Held in Treasury—Funded Debt (Table V.).'.
Marketable Securities (Table V.)
•
i- —
Loans and Bills Receivable....
-1
Traffic and Car Service Balances Due from Other Companies
Net Balance Due from Agents and Conductors----------------.-^-.Miscellaneous Accounts Receivable—
Materials and Supplies.-:
Other Working Assets
573,435 86
484,921 32
1.024,260
2,539,521
5,326,546
,151,916
•*
^
INCOME) NOT DUE:
ACCRUED
Unmatured Interest, Dividends and
DEFERRED DEBIT ITEMS:
'''
Advancos
40,705 27
'
v
Rents Receivable
;
,
.'
..
—
-
—-
548,454 78
1,189,385 32
3,733,020 61
7,183,109 13
---
*
*•
Special Deposits
Cash and Securities
Company Bonds
905,000 00
55,539 85
a
-■
,
.
:
t
$4,849,628 24
39,460 31
——
$960,539 85
1,134,740 77
—
in Sinking and Redemption Funds—
(Table V.—
Cash, etc
-
V
.
.
-
$9,292,661 88
CONTINGENT ASSETS:
$7,292,000 00
L. & N. Term'l Co.
Nash. Chatt. & St. Louis Ry
interested railroad companies
South. & North Ala. RR. Co. Interest
$16,542,000 00
u
$284,050,982 79
'
*Taxes
——
.
-
,
,
.
.
.
„
Lou. & Nash.
-
Dividend,on Preferred Stock
paid in advance on'June
"Taxes Accrued."
,■
—
Coll. Gold Notes guaranteed by the
Memphis Union Sta. Co. 5%
2,100,000 00
4,650,000 00
v
47,542,980 85
149,993 33
■*
$4,889,088 55
25,252 58
5,206,085 54
-
1,020,263 19
1,658,543 62
12,799,233 48
$7,292,000 00
2,500,000 00
RR. Co. and other
2,100,000 00
4,770,000 00
■
•/.
16,662,000 00
5% Consol. Gold Bonds outstanding, endorsed by Lou. & Nash. RR.Co.
ETfty-year 4% Gold Bonds outstanding, endorsed by Lou. & Nash. RR. Co. and
South & North. Ala. RR. Co.
2,500,000 00
"
'
.
L
.
—
$962,000 00
58,263 19
-
Other Deferred Debit Items
V
' ':
'
Proprietary, Affiliated and Controlled Companies
-
$14,514,407 97
' 9,264,339 94
10,686,725 99
423,537 11
-
:
Taxes Paid in Advance
$862,135 89
•
35,772.637 16
•
$6,335,245 37
*
■
-'/.u-:/
--------
!
•
t
Temporary Advances to
Working Funds...
$6,294,540 10
'
v
21,232,775 06
WORKING ASSETS:
$11,085,960 66
11,133,000 00"
8,561,981 03
-
•
3,679,817 59
■
•
,
r
-
-
.
,
'
$20,301,402 94
-'
,
•
10,546,77621
$14,539,862 10
$2,890,480 10
14t662,477 37
—
—
.
.
.
Equipment and-
V
'
:
"
,
——
.
Physical Property
—
Securities—Pledged (Table V.)
Securities—Unpledged (Table V.)—
*
Stocks..
J—.— —
Funded Debt-------.----------Miscellaneous.-,
17
5,167,047 73
,
Controlled Companies for Construction,
*.
Betterments—
__
.
Miscellaneous Investments—•
•
2,072.558 S3
—
•
.
Proprietary, Affiliated and
Advances to
•
$3,327,283 35
1,175,282 83
1,897,045 99
:
——
-
."
'
$7,992,897 13
,
$3,094,488 90
—-
$1,900,282 83
172,276 00
-
'
"$ii,433,984
:
•
>;'
$1,450,728 48 >
3,929,000 00
•
Assumed—Pledged—Funded Debt (Table V.)
Affiliated and Controlled Companies—Unpledged—•
(Table V.)—— —
725,000 00
$250,728 48
1,200,000 00
—-
—
Miscellaneous
*""$2,904,255
$187,937,393 24
*
„
-
V.)
Stocks (Table V.)
Funded Debt
$2,179,255 90
$725,000 00
mm
*
Companies—Pledged—
*
"
$7i079,000 00
'
„.
•
•
•
Affiliated and Controlled
Stocks (Table V.)
Funded Debt (Table
$250,728 48
1,200,000 00
"""$6,399,612
$46,292,768 82
_
—
—
$23,012,036 58
$4,323,621 37
16,807,270 32
:
:
'
.
-
Road
Equipment
$198,555,383 52
^ ^
^ ^
-
.
SHEET.
III.—GENERAL BALANCE
■
-
Investment since June
$15,259,224 53
7,752,812 05
4
ASSETS.
Road and. Equipment:
'
Investment to June 30 1907—
$139,471,342 11
36,072,004 83
100 /<5
-
PROPERTY INVESTMENT:
V
«—
,
130,000 00
$405,289 01
—
'
Dr
June 30 1912.
*
gjg 733 0()
$260,000 00
640,000 00
_
:
NO.
TABLE
"$21,130,891
«■
'
-
J-;
■
:
^
and Redemption Funds
Loss Account
Profit and
>££. '
$46.292,76882
<'I-"
'
Surplus—Amount invested in Sinking
Appropriated
<;IV..
'
•*
Miscellaneous Debits—
Sundry amounts.
3&1&QC6 CrGc3.it)"-""
.
'
$2,100,000 00
2,518,733 00
--
«...-
—
Surplus—
Debt Discount Extinguished through
Discount on Bonds sold jduring the
Unified 50-Year 4 per cent
•
mi—
'
payabl^February
DiViCash
*""$1
—.
DEBITS.
.
■;
104,564 52
11.604 48
1909 to June 30 1912
-
;
54,57b 03
31,646 32
12,956 94
y
;
y/y*-
■
•
_
5Di7oij o4
.
47,403 44
40,581 16
Interest accrued on Company's
Trustees
&c
M
Adjustment of accounts
Sundry amounts
F -
D,^° 48
-
—
-
M^SCs!iddngUFuncf^ayments for
-673 31
-
-
Sundry amounts.
•
30 1912, amounting to $25,096 83, were
•
•
charged against
-•
$311,411,014 27
1033
THE
CHRONICLE
[VOB.
XCVII.
LIABILITIES.
June 30 1912.
STOCK:
Cr.
Capital Stock:
: Common
$59,917,200 00
June 30 1913.
Stock—■
Full shares outstanding
Fractional shares outstanding,
Original stock and subsequent-stock dividends unissued
Receipts outstanding for installments paid
720 00
82,080 00
$71,878,500 00
—-
_
720 00
82,080 00
2,500 00
$60,000,000 00
MORTGAGE, BONDED AND SECURED DEBT:
Funded
$71,963,800 00
Debt—
.
Mortgage and Collateral Trust Bonds (Table IV.)__
Owned by Company,_ :
1Outstanding in Hands of Public
$19,117,000 00
136,078,500 00
-
_
-
_
$14,155,339 94
150,290,000 00
_____
...
$155,195,500 00
24,657 00
Plain Bonds, Debentures anl Notes^_____
$164,445,339 94
23,257 00
$155,220,157 00
WORKING LIABILITIES:
$272,570 81
4,971,958 74
120,926 79
1,812,005 71
66,000 00
279,949 26
164.468,596 94
-
Traffid and Car Service Balances Due to Other
Companies.
Audited Vouchers and Wages Unpaid:
•_
Miscellaneous Accounts Payable
Matured Interest, Dividends and Rents Unpaid
Matured Mortgage, Bonded and Secured Debt
Unpaid (Table IV.).
Other Working Liabilities
..
$287,989
5,627,708
497,318
1,893,428
80,000
768,401
_.
—
63
45
54
17
83
00
44
$7,523,411 31
ACCRUED LIABILITIES NOT DUE:
'
Unmatured Interest, Dividends and Rents Payable.
$2,883,096 37
943,184 15
63
Taxes Accrued
9,154,846 43
$3,350,444 91
855,093 88
—
__
.
_.
—
$3,826,280 52
DEFERRED CREDIT ITEMS:
Operating Reserves
Other Deferred Credit Items
$471,593 19
600,402 53
""$ 1,071,995
4,205,538 79
;
—
_
$396,754 65
1,298,884 19
_______
72
APPROPRIATED SURPLUS-
$2,281,569 53
1,695,638 84
Additions to Property since June 30 1907
through Income or
Reserves from Income or SurplusInvested in Sinking and Redemption Funds
For doubtful
accounts
*
$324,875 67
165,692 32
Surplus
$2,356,039 41
-
$405,289 01
160,683 77
'
$490,567 99
565,972 78
$2,772,137 52
$37,095,000 72
v."-;?";--'i
PROFIT AND LOSS:
Balance
sK-*'-v-it';-
-
-
7
2,922,012 19
:
—
CONTINGENT LIABILITIES:
$7,292,000 00
2,500,000 00
2,100,000 00
4,^650,000 00
40,338,581 §8
South & North Alabama Rahroad Co.
5% Consolidated Gold Bonds
outstanding, endorsed by
Louisville & Nashville Railroad Co
L. & N. Terminal Co.
Fifty-year 4% Gold Bonds outstanding, endorsed
by Louisville & Nashville
Railroad Co. and Nashville
Chattanooga & St. Louis Railway...:
Memphis Union Statiin Company 5% Collateral Gold Notes
guaranteed by the Louisville & Nashville Railroad Company and other
interested Railroad Companies
Interest Dividend accrued on South &
North Alabama Railroad Co. Preferred
Stock
$7,292,000 00
<
2,500,000 00
'
2,100,000 00
4,770,000 00
.
$16,542,000 00
16,662,000 ©0
$284,050,982 79
$311,411,014 27
TABLE NO. IV.—BONDED
TABLE
In
DEBT.—(See Page 1035.)
NO. V.—SECURITIES OWNED.
Treasury.
Pledged.
Sinking and Redemption Funds.
■p .«
a
O'O
BONDS, ETC.
.
S2C5«*
5
?
o
0,R
So
**
JIB
.
*>o
■§§§■§
p?
.0
7s'
Sis's
:
is0"
Jr
Vj
°
3
,o
psl
Louisville & Nashville Issues—
Yellow River RR., 1st Mtg.,
4%
Pensacola Div.« 1st Mtg., Gold,
6%
General Mortgage, Gold, 6%.
Gallatin & Scottsv. Ry., 1st M., g.,
_
L.&N.-P.&M.Div.50-yr. 4%, Gold,
1st
Ry. 1st M„ 5% .Gold
Div., 4%. Gold.....
Southeast & St. Louis D iv., 2d M., G.
,3 %
Kentucky Cent. Ry., 1st M., Gold, 4%
Five per cent First Mtge. Trust,Gold..
L. & N.-Sou., Monon Coll.,
4% Joint.
New Ori. Mobile <fc Texas
Ry., 6%, 1st
Madisonv.Hartford & East.RR.,1st,5%
Atl. Knox. & Nor.
Atl. Knox. & Cin.
Total (see Balance Sheet)
Issues of Subsidiary Companies—
5,000 00
.-__i
$140,000 00
$930,000 $930,000
'"""157000" 00
$3,929,000
""i"o~o7ooo"6o
3,150,000 00
2,251,000
217,000
1,000
772,000
V
00
$17,000
00
2,000
1,000
2,000
.6,000
00
32,000 00
424,000 00
15,500 00
$5,000
$7,000
1 "815,839~ 94
$9,264,339 94
$3,929,000
$7,000
7,000
$5,000
$2-25,000 00
500,000 00
1,468,000 00
5,000 00
00
00
00
00
3,929,000 00
100,000 00
3,150,000 00*
2,268,000 00
217,000 00
1,000 00
17,000
309,000
930,000
15,000
772,000
2,000
38,000
424,000
$500,000
00~
00
00
00
15,500 00
7,000 00
1,815,839 94
$20,000 $930,000 $962,000
$14,155,339 94
$225,000
500,000
1,200,000
500,000
1,468,000
l,200,0p0
00
00
00
00
00
364,915 00
364,915 00
_
t
$2,557,915 00 $1,200,000 $500,000
$2,072,558 83 $1,200,000 $500,000
Ledger Value (see Balance Sheet)..
Marketable Bonds-—
Cairo. & Thebes RR., 1st Mtg,, 4%.
Carrollton & Worthville RR.,
5%
Charleston Term. Co.,
50-yr..4%, Gold
Cent. Transf. Ry. &
Storage Co., 5%-Frankfort & Cincinnati Ry., 1st
M., 4%
L. <Sr N.-Term. Co.,
50-year, Gold, 4%
L. & N.-Sou., Monon
Coll., 4% Joint..
Louisville Property Co., Gold, 4%Monroe RR., 1st Mtg., 4%
Muhlenberg Co., Ky., 5% Refunding._
Nash. Chatt. & St. Louis
Ry. Issues
National Coal & Iron Co.,
5%
So. & Nor. Ala.
RR.,5% Con. M.,Gold
So, & Nor. Ala.
RR., Imp., 5%, Gold..
Southern Iron & Steel Co. Issues
92 800 00
$1,699 ,000
92 ,800
300 ,000
10 ,000
160 ,000
35 ,000
15 ,500
1,600 ,000
300 000 00
10 000 00
160 000 00
35 000 00
15 500 00
1,600 000 00
•
34 000 00
10 000 00
65 000 00
53 ,000 00
6%
Wholesale Merch. Warehouse
Co., 5%_
Sundry other Bonds and Scrip
more than one
after date of issue
00
00
00
00
00
00
00
00
34 ,000 00
10 ,000 00
65 ,000 00
2,208 ,000 00
1,920 ,000 00
108 ,678 54
43 ,000 00
42 ,000 00
398 ,000 00
35 ,230 94
Sloss Iron & Steel Co., 1st
Mtg., 6%_._
Tennessee Val. Iron & RR. Co., 1st,
Sundry notes, maturing
$4,257,915 00
$3,772,558 83
$1,699 000 00
•/.'
—-
Total
17,000
00
Misccllaneous—'
Lex. & East. Ry.—Deferred deb.
scrip.
year
g*
17,000 00
309,000 00
BayMin.& Ft.Mor.RR.lst.M.,4%,Gold
Morganfield & Atlanta RR., 1st M.,4%
Owensboro & Nash. Ry., 1st Mtg.,
6%
Sou. & Nor. Ala. RR.
5% Con. M.,Gold
Lexington & East.- Ry., Gen. M.,5%--
Total
Total.
cog
$140,000 00
—
.___
4%
Henderson Bridge Co., 1st Mtg., 6%-First Mtg., 5%, 50-year, Gold
Birmingham Mineral RR., 1st M., 5%~
Nash. Flor. & Shef. Ry., 1st
M,, g., 5%
Alabama Mineral RR., 1st
Mtg., 4%__
Unified 50-Year 4%, Gold
Mortgage.
-
1513
a"*3 it
"S
Grand
•Sa
v
-___
,
SI"3
°
R
IS4
9 <03
I
t
it
£5
OS»N
a-sg
§8^
53 ,000 00
2,208 ,000
1,920 ,000
108 ,678
43 ,000
00
00
54
00
42 ,000 00
398 ,000 00
35 ,230 94
1,858,653 85
1,858,653 85
_________
_
Ledger Value, Marketable
(see Balance Sheet)
Grand Total Bonds
<
r
_
.
_
_
$10,687,863 33
_
Bonds
$10,687,863 33
$10,686,725 99
$10,686,725 99
$9,264,339
94 $13,245,773 33
$5,129,000 $500,000
\
$7,0Q0
$5,000
$20,000 $930,000 $962,000
$29,101,118 27
In
?osit, Trust
rork
New
trolled Com-
Owned as
Investment.
A CJRR.
O.
as
investment.
M.&T.Mtgs.
$32,500
12,500
25,000
25,900
30,000
25,000
*4,898,450
5,000
140,500
25,000
17,275
,19,975
82,300
Frankfort & Cincinnati Railway Co
__
Gulf Transit Co
,
Kentucky Public Elevator Co., Common...
Lexington & Eastern Railway Co
Lexington Terminal Railroad (of Georgia)...
Lexington Union Station Co., Preferred
Lexington Union Station Co., Common....
Lewisburg & Northern Railroad Co. — .—
Louisvillo & Nashville Terminal Co
—
Louisv. llend. & St. Louis Ry., Preferred
Louisv. Hend. & St. Louis Ry., Common.^:.
Milledgeville Railway.
Missouri & Illinois Bridge & Belt RR.
Monroe Railroad—
—
Nashville & Decatur RR_.—...
Nashville Chattanooga & St. Louis Ry.
New Orleans Mobile & Chicago RR., Pref._
New Orleans Mobile & Chicago.RR., Com _
Owensboro & Nashville Ry____________
1,936,700
4,903,450
*$1,936,700
*4,898,450
*$1,936,700
— _
110,650
,
$25,000
Chic. Ind. & Louisv.Ry., Common.
Cincinnati Inter-Terminal RR.Co.,Preferred
140,500
25,000
17,275
19,975
82,300
37,300
500,000
3,300
25,000
5,000
37,300
500,000
■
"""3",300
~
25,000
5,000
100,000
100,000
100,000
100,000
776,081
776,081
1,631,385
1,631,385
15,000
13,000
50,000
15,000
13,000
50,000
1,979,600
1,979,600
11,484,100
8,802,400
$8,802,400
"2,681,706
216,615
2,385,254
216,615
$2,384,750
504
""
193", 124
Republic Iron & Steel Co., Preferred.
Republic Iron & Steel Co., Common.
South & North Alabama RR., Preferred
South & North Alabama RR., Common
.
Southern Iron & Steel Co., Preferred- — ...
Terminal Railroad Association of St. Louis..
Woodstock & Blocton Ry__-_
Sundry stocks, roads operated as part of the
L. & N. System (nominal values)
Sundry other stocks
— —
193,124
54,800
46,100
2,000,000
1,300,333
61,717
205,800
120,000
"""54", 800
46,100
2,000,000
1,127,400
2,000,000
1,127,400
""
172",933
61,717
205.800
120,000
65
65
,
57,700
57,700
Sheet)
2,384,750
$362,135
$6,344,738
$3,666,691
$3,253,589
$3,094,488
Total
$18,764,950
$14,662,477
.$6,835,150
$8,006,033
$11,929,800
$8,656,443
$30,748,028
$21,785,733
963.400
Sheet).....
Henderson Belt RR
—
19,750
980,000
285,000
1,500,000
985,000
1,969,000
100,000
2,939,700
589,256
2,412,600
19,750
980,000
285,000
1,500,000
Preferred.__
Ry., Common ...
Alabama Mineral RR._
100,000
-
2,939,700.
589,256
2,412,600
3,985,000
615,000
100,000
2,939,700
$711,800
Shelby Railroad
Birmingham Mineral RR
—
New Orleans Mobile & Texas Ry_fc._______
Nashville Florence & Sheffield Ry
Pontchartrain Railroad
Henderson Bridge Co..
.
615,000
711,800
501,000
589,256
2,412,600
3,985,000
615,000
711,800
501,000
$711,800
$17,593,106
$17,593,106
3,985,000
"~50T,666
(Ledger Valuo included in Road
Equipment on Balance Sheet) - -
Miscellaneous—
Woodstock & Blocton Ry—Certificates
Indebtedness (see Balance Sheet)..
1,500,000
985,000
1,969,000
•
985.000
1,969,000
•_
Louisville Railway Transfer.
Mobile & Montgomery Ry—J
2 50,728
980,000
285,000.
Southeast & St. Louis Ry„_.__
Pensacola Railroad
Louisv. Cin. & Lexington Ry.,
Louisv. Cin. & Lexington
963,400
250,728
19,750
Ledger Value (see Balance
963,400
250,728
Stocks with Trustees—•
Owensboro & Nashville Ry..
and
tinder N.
Owned
12,500
25,000
25,900
110,650
30,000
Augusta & Sumraerville RR_.
Atlantic Compress Co
Atlanta & West Point RR. Co
Buck Creek Cotton Mills, Preferred— —
Central Transfer Railway & Storage Co..^.
Chic. Ind. & Louisv. Ry, Preferred
Total
Grand
Total.
|
Co. Collateral
$32,500
—
Ledger Value (see Balance
Joint Bonds.
Bonds.
Station Co
Colossal Cavern Co
Elkton & Guthrie RR
Farmers'
Tr.
Collateral Co. L. A N.- Loan A Trust, Total Pledged
for Unified Sou. Monon.
Collateral
50-Year '4%
of N. O. M.
panies.
'
Augusta Union
Central Trust Guaranty
Co. in matter Co.
and Con¬
Augusta Belt Ry
Pledged.
Special De-
Treasury.
Proprietary
STOCKS.
1033
CHRONICLE
THE
111913.]
OCT.
$16,881,306
.
13,126
13,126
Stocks and Miscellaneous Se¬
Total
curities
Grand
share, or one-half of stock owned
Road and Equipment,
June 30 1912, was—
•
$49,317,660
$154,730,566 64
*
;—.—
—
$37,321,456
AND EQUIPMENT.
"
*
Equipment
$711,800
$6,835,150
jointly and pledged.
.
—
—
$29,774,506
VI.—PROPERTY INVESTMENT, ROAD
NO.
TABLE
$2,384,750
$6,344,738
$3,266,716
♦This Company's
Road
of
r
43,824,816 88
t
—
following:
Road—
*
' >
•
'
Madisonville Hartford & Eastern Railroad
......
—«—"
$1,817,334
Harriman Knoxvillo & Eastern Railroad
.
—
—
469,694
Pine Mountain Railroad
—
-—
585,724
New Line, Winchester to Irvine, Ky
"
—
New Line, Maloney to Tallega, Ky—
—
—
.....
Nashville & Decatur Railroad—New Line, Alabama-Tennessee State Line to Athens, Ala
_
221,992
Athens & Tellico Railway
— ...—
3,149
Straight Creek Branch
Connection track between Lexington & Eastern Ry. and Paris & Lexington Branch, near Lexington, Ky.
1,194
Additions and Betterments
—
—
-•
—
$7,806,614 86
Less—Amounts included in above account of South & North Alabama Railroad, Elkton &
r
Guthrie Railroad and Glasgow Railway
...
—
2,958,836 14
$198,555,383 52
To which add the
55
77
54
841,699 49
159,150 11
05
80
1,76173
20
4,847,778 72
Betterments—Nashville & Decatur Railroad, July
Sundry other charges
... —
Additions and
129,045 91
1 1907 to June 30 1912
...
1
—
612 41
....
$9,079,138 28
Frankfort & Cincinnati Railway
Property turned over to new owners
Sundry other credits
E<juioment—
*
$8,705,670 20 "
'-'A
*
Bought, built or otherwise acquired during year
Less—Credit:
E£i
as per
: ■
:
$3,652,822 57
—
•
Frankfort & Cincinnati Railway-
Total,
$373,272 58
195 50— 373,468 08
July 11912
-
-Equipment--:
13,106 00—
—.
Table No. III-
3,639,716 57
.$163,436,236 84
Road.,
.
47,464,533 45
Equipment
TABLE NO. VII.-
12,345,386 77
$210,900,770 29
-GROSS OPERATING
[4,923.36 miles.
REVENUES, OPERATING EXPENSES, AND NET
Average operated during the yowr,
BY
MONTHS.
4,819.86 miles.
Passenger
Train Revenue.
Other
MONTHS.
1912
July,
August,
September,
October,
November,
December,
January,
1913.
February,
March,
April,
May,
June,
»
Totals
$3 ,128 ,366
3 ,409 ,045
3 ,476 ,524
3 ,991 ,695
3 ,831 ,400
3 ,570 ,903
3 ,843 ,286
3 ,508 ,239
3 ,605 .147
3 ,554 ,089
3 ,720 ,273
3 ,285 ,979
Mail.
Passenger.
Freight.
36
21
64
94
15
25
90
86
07
53
86
59
$42,924,952 36
$1,097,054
1,196,124
1,152,121
1,069,853
988,187
1,142,838
1,064,519
994,678
1,018,834
979,071
1,036,491
1,095,882
52
62
58
43
17
21
74
17
09
96
43
72
$12,835,657 64
$69,868 60
70,041 77
70,106 92
25
66
16
83
41
43
17
06
35
83,487
73,341
73,481
74,359
74,384
74,351
74,572
74,118
74,062
$886,175 61
Express.
$112,814,14
112,722 23
114,950
129,332
147,609
163,545
134,007
110,566
116,525
116.874
125,271
109,082
91
11
75
77
34
91
09
59
34
63
$1,493,302 81
$18, 966 62
17 734 60
21 316 52
26, 358 67
22, 449 60
16 397 55
19, 962 74
17, 716 15
20, 193 63
29, 112 20
26 033 56
23 511 77
$259,753 61
1034
THE ' CHRONICLE
from Transpor¬
Revenues from
Operations other
than Transpor¬
tation.
tation.
Other Revenues
MONTHS.
[Vol.
Total
xcvii.
a'V';
Operating
Per Cent
Operating
Expenses.
Revenues.
Net Operating
Revenues.
of Exp.
Rev¬
to
enues.
July,
1912--August,
"
September,*
October,
"
November, "
December,
"
January,
1913
February,
44
March,
"
April,
"
May,
"
June,
"
$37,786
47,618
-51,859
50,031
54,144
49,966
39,618
50,238
43,482
33,345
94
08
17
38
32
05
22
26
88
15
46,115 26
36,821 84
;
..I;
-a-.-—--,
,
_________
...
A
—
—
_
_
.
__
-
-~-,w
.___
Totals
•
_
1
...
TABLE
$541,027 55
; Y\
-A'
,•**
c-.-i
.
22
61
72
07
28
14
96
42
•
SOURCES.
Passenger revenue
Excess baggage revenue.
Parlor and chair
Mail revenue.
car
passenger
of
.013
.012
.034
.004
from transportation
.365
.095
Miscellaneous
.073
.159
Joint facilities—Dr..
Joint facilities—Cr__
V.
•
EXPENDED
193,155 92
8,134 41
1,246,618 36
—
__
5,789 30
38,3,353 88
Rails
.
Rails—Extraordinary
•
Other Track Material
Other Track
...
.
25 64
2 21
3,735,361 39
...
287,825
•
_■
—
42,019
184,870
7,723
61,344
Tunnels
Tunnels—Extraordinary
Bridges, Trestles and Culverts
Bridges, Trestles and Culverts—Extraordinary
Over and Under Grade
Crossings
Over and Under Grade
Crossings—Extraordinary
Grade Crossings, Cattle Guards and
Signs
Grade Crossings, Cattle Guards and
Signs—Extraordinary
Right of Way Fences
Right of Way Fences—Extraordinary
Signals and Interlocking Plants
Telegraph and Telephone Lines
Telegraph and Telephone Lines—Extraordinary
_
'
...
_
...
■
.
-i,
804 76
112,694
65,428
144,999
522,616
20,489
92
:
.
Locomotives—Repairs
—
Passenger Train Cars—Repairs
Passenger Train Cars—Renewals
Passenger Train Cars—Depreciation —*
Freight Train Cars—Repairs
Freight Train Cars—Renewals
f—
Freight Train Cars—Depreciation
Floating Equipment—Depreciation
Work Equipment—Repairs
t
Work Equipment—Renewals
Work Equipment—Depreciation
Shop Machinery and Tools.
u
32
l,
__
."
._
Stationery and Printing-
...
i.
...
Other Expenses
54
6,524 24
88,109
51,853
24,138
1,764
1,388,700
290,999
220,418
82
51
04
48
Fuel for Yard Locomotives
...
at Terminals—Dr
Road
Road
.
......
Fuel for Road
Fuel for Road
96
76
95
79
51,670 75
37,526 78
1,306 61
572,21428
Locomotives—Passenger.
Locomotives—Freight
Locomotives—Mixed....
731,593
_
Traffic Expenses—
...
Lubricants for Road Locomotives—Freight
Lubricants for Road Locomotives—Mixed
Other Supplies for Road
,
101,895
244,945
167,472
244,687
Road Trainmen—Passenger
Road Trainmen—Freight
—
Interlockers and Block and Other
55
176,315 05
7,931
22,027
44,619
49,820
30,069
169,909
Fast Freight Lines
Industrial and Immigration Bureaus
Stationery and Printing—Passenger
Stationery and Printing—Freight
Other Expenses
;
83
59
36
93
90
95
6 00
....
$1,259,701 60
;
,
•
—
....
39,713
82,353
...—
—
.
—
....
:—
....
—
v
"
...
...
Damage to
Damage to
Damage to
Injuries to
Property
Stock on Right of Way—Passenger
Stock on Right of Way—Freight
Persons (not Employees)—Passenger
Injuries to Persons (not Employees)—Freight
Injuries to Employees—Passenger
Injuries to Employees—Freight
Operating Joint Tracks and Facilities—Dr
Operating Joint Tracks and Facilities—Cr
,
•
—
_______
—
Total
38
85
90
58
64
57
38
61
72
41
22
69,223 34.,
117,684 05
86
91
60
99
05
73,107 37
Cr.53,186 22
.-
—
53
42
30,504
121,025
83,124
250,636
8,886
539,249
8,503 21
158,506
308,693
173,687
80,405
217,939
—_—...
'.-...-.$19,884,014 97
General Expenses—
'•
....
Salaries and Expenses of General Officers
Salaries and,Expenses of Clerks and Attendants.
General Office Supplies and Expenses..
__________
Law Expenses...Insurance.
Pensions
Stationery and Printing
Other Expenses
General Administration Joint Tracks, Yards and Term's—Dr
General Administration Joint Tracks, Yards and Term'ls—Cr
—
-
-
$130,274
548,851
29,200
549,249
17,352
02
40
29
65
64
18,310
'—
.
*The difference between
2,272,109
91,694
399,114
,252,586
6,595
____
Signals—Operation:...—
Crossing Flagmen and Gatemen
Drawbridge Operation
Clearing Wrecks—_______
Telegraph and Telephone—Operation
Stationery and Printing.
Expenses
67,10192
___.
_____
79
08
02
1,600 64
625,503 07
...
w—
—
08
26
40
1,424 36
25,361 69
Locomotives—Passenger.
Other Supplies for Road Locomotives—Freight^.....
Other Supplies for Road Locomotives—Mixed
33
57
54
51,741
....^
Total Operating Expenses.
Superintendence—Passenger
Superintendence—Freight
Outside Agencies—Passenger
Outside Agencies—Freight
Advertising—Passenger
Traffic Associations—Passenger
Traffic Assoc!ations—Freight
2,205,743
-■
61,343
211,006
23,598
___^_
-$11,216,888 92
_________
708,170 81
1,972,773 80
76,423 48
xJ
Water for Road Locomotives. J
Lubricants for Road Locomotives—Passenger
63
71 04
Cr.145,151 39
...
....
Other
89
60
9,627 66
14,178 64
843,555 80
.
Enginehouse Expenses—Road
Fuel for Road
67
26
98
53
62
87
09
99
35
57
30.864 39
_____
Enginemen—Passenger..
Enginemen—Freight.
Loss and Damage—Freight.
Loss and Damage—Baggage
70,410 33
Cr.829 77
at Terminals—Cr
....
^
Road Enginemen—Mixed.
76
01
71,503
*iCr.l96
47,861
239,292
...
:
...
00
07
467,591
626,542
31,774
78,943
.
12
78
$14,654,818 73
$2,289,817
89,999
186,040
321,904
985,885
55,528
33,622
.....A : 577,993
126,950
394,910
;
Water for Yard Locomotives
Lubricants for Yard Locomotives.....
Total
$44,810,880 41
Road Trainmen—Mixed
1,354,109 33
Injuries to Persons.
Employees—Passenger
$59,465,699 14
Yard Enginemen
Enginehouse Expenses—Yard
09
4,583,843 64
—,
___—...
,
39
07
80
98
41
02
23
3,908 12
98,485 78
Train Supplies and Expenses—Passenger
Train Supplies and Expenses—Freight.-A.*
Train Supplies and Expenses—Mixed
*a;Cr.30,233
■_
.
Transportation Expenses—
Superintendence
Dispatching Trains.
35
47
75
60
00
24,618
56,451
8,027
217,186
23,969
56,600
43,398
3,908
98,485
20
$312,085 08
3,280,203 37
*gCr.6,588 14
.....
Steam Locomotives—Renewals—
Steam Locomotives—Depreciation
Total..
$3,768,823
9,827,200
20,376
511,443
2,145
39
07
80
98
41
02
23
43
.—$11,033,134 19
-
Slation
75,775 29
38,251 04
•
Total....
Total
100 29
Y
225 43
(
Maintaining Joint Equipment
Maintaining Joint Equipment
18
55,466 91
Other Expenses—Depreciation
Maintaining Joint Tracks, Yards and Other Facilities—Dr_
Maintaining Joint Tracks, Yards and Other Facilities—Cr_
Steam
12
56 05
;
:
Maintenance of Equipment—
Superintendence
Operating
Revenues.
$11,713,128 52
33,097,751 89
Operating Joint Yards and Terminals—Cr
78,037 50
•
Shops, Enginehouses, etc
Station, Office and Other Buildings.
Buildings, Fixtures and Grounds—Extraordinary
Buildings, Fixtures and Grounds—Assess, for Public Improv.
•
Net
69
13
75,828 70
.•
'A
84.78
75.36
98
42
165 22
.
V
,
20
Other Supplies for Yard Locomotives
Operating Joint Yards and Terminals—Dr
1,120,792 31
21,431 66
16,209 43
...
Docks and Wharves
Docks and Wharves—Extraordinary
55
5 50
....
Injuries to Persons—
Stationery and Printing
Other Expenses
Operating
Expenses.
Yardmasters and their Clerks
Yard Conductors and Brakemen..
Yard Switch and Signal Tenders
Yard Supplies and Expenses
471,197 45
.....
Material—Extraordinary..
Roadway and Track
Roadway and Track—Extraordinary
;
Roadway and Track—Assessments for Public Improvements
Cleaning Right of Way
;
Removal of Snow, Sand and Ice____
Roadway Tools and Supplies
<
52
92
NET?
AND
Employees—Freight ^
Weighing and Car Service Associations
Station Supplies and Expenses..
Amounts.
,
$424,662 95
Ballast—Extraordinary..
L_
65
14
31
84
$14,654,818 73
Station
.
Ties—Extraordinary
Water Stations
Fuel Stations
69.71
70.25
72.56
74.30
76.19
78.64
80.03
82.67
19
00
IX.- -OPERATING EXPENSES.
FOR
*
Ballast
—
69.15
524,829 56
100.000
.
Maintenance of Way and Structures—
Superintendence
Ties——
/
1
from operations other than transportation....
TABLE NO.
r
24,618
56,451
8,027
217,186
23,969
56,600
43,398
.041
,
•
75.53
71.52
73
29
$58,940,869 58
.041
.095
.014
Operating Revenues,
40
74
40
20,376 75
511,443 60
2,145 00
.860
Telegraph
Total
84
69
16
90
95
EXPENSES,
$15,481,951 87
42,924,952 36
72.185
Car service.:
revenue
68
60
Operating
9,094
886,175
1,493,302
60,741
7,843
7,062
.102
revenue
Station and train privileges
Total
15
61
182,073 69
25
61
81
.015
1.490
•
2.511
Rents
$1,101,254
1,393,754
1,521,545
1,632,746
1,533,532
1.387.144
1.331.145
1,142,204
1,052,292
970,156
878,715
710,326
84
$44,810,880 41
Gross
.306
i
A
Storage, freight
Storage, baggage
.
32
59
$12,835,657 64
-
revenue
■
i. 21.585
-
revenue
train
-■A
74
47
Total passenger train revenue
Total
:
90
87
60
49
83
47
$3,399,920
3,499,198
3,411,272
3,758,206
3,620,577
3,667,161
3,886,432
3,655,614
3,873,159
3,888,974
4,192,664
3,957,696
Revenues,
Freight revenue
i
Special service train revenue—freight...
Switching revenue
Miscellaneous transportation revenue
'
88
dross Revenues.
Special service train revenue—passenger.
•
24
OPERATING
Per Cent
Express revenue
Milk revenue..
Other
33
$59,465,699 14
REVENUES,
K'aitfU
'
r.
$4,501.175
4,892,953
4.932.817
5,390,952
5.154,109
5,054,305
5,217,578
4.797.818
4,925,451
4,859,131
5,071,380
4,668,023
>')i,
i.
•'
.
15
73
14
12
$524,829 56
NO,!.' VIII,—GROSS .OPERATING
-
v
$36,318
39,666
45,938
40,194
36,977
37,173
41,823
41,995
46,917
72,066
43,076
42,682
'
53
63,306
53,194
9,722
2,321
80
66
34
60
$1,417,140 73
$44,810,880 41
amounts shown
as
charged to Operating Ex¬
penses on account of Renewals, page 1028,and TableIX., is due to credits
to Renewal Accounts for salvage from locomotives and cars
destroyed,
and on account of charges to other companies for cars
destroyed on their
lines; also to debits and credits to Renewal Accounts occasional by adjust¬
ing the difference between depreciated value, according to the Superin¬
tendent of Machinery's appraisement, of cars changed from one class
to
another, and the depreciated value shown by Equipment Depreciation
T>
pffjcf PT*
J
Credit
balance in Account—Steam' Locomotives, Renewals—Is due
value of scrap credited to this account from steam locomotives
retired over depreciated values of steam locomotives
i
to
excess
year.
destroyed during the
balance in Account—Freight Train Cars, Renewals—is
by adjustment of depreciation on freight cars changed to another
Credit balance in Account—Work Equipment, Renewals—is due
Credit
occasioned
.
,
...
i__
$337,776 73
522,637 20
540,111 96
class.
to excess value of scrap
credited to this account from work equipment re¬
tired over depreciated values of work equipment destroyed during the year.
'
i
AVERAGES
AND
THE
FOR
COMPARED WITH THE PREVIOUS
YEAR
P. C. of
4,819. 86
10,168,062
55,586,823
4,709.93
9,958.397
54,201,101
train
No. of pass, carried 1 mile
No. pass, car'd 1 mile per
532,465,242
+3.0417
113,833
113,052
+ .6908
+2.3364
No. of tons in
mile
—;
i
49.22
50 37
.•
6 780
Earns, per pass, per mile-.cts.
P. C. expenses to pass, earns. L
.
loaded.
+ 1.8728
+6.9097
729,035
862,318
264,035,812
121,288,830
—1.6738
385,324,642
14.54
6.68
14, 55
_
6, 37
21.22
20.92
train..
+3.0680
285.02
19.60
V
13.43
+4.9144
$40 ,633,012.55
$29 ,148,145.30
+5.6960
+ 13.5501
$11 ,484,867.25
$ 8,627.10
$6,188.66
$2,438.44
—14.2374
$6,866, 95
$2,043, 57
•
•
'
•
+3.2852
+ 10.9602
—16.1935
223.820
+2.5632
160.558 + 10.1845
63.262 —16.7794
229 557
176 910
52, 647
+4.0588
10.545
10 973
8 456
7.564 + 11.7927
-15.5652
2.981
—.2591
133.551
2 517
133 205
95.803
+7.1522
37.748
.786
-19.0686
779
600
.564
+6.3830
179
.222
-19.3694
102 655
30 550
Net earnings per ton
_cts.
Earnings per ton per mile.cts.
Expenses per ton per mile.cts.
Net earns, per ton per mile cts.
P. C. exp. to freight earnings.
—15.4564
391,395,026
loaded in each train.
—.0262
70.77
No. cars empty in each train..
No. cars loaded and empty in
each
'
272,136,332
_
and empty
cars
+ 1.9585
99.312
2.296
No. miles run by cars, empty.. 119,258,694
No. miles run by cars, loaded
No.
—13.5285
+3.9776
•
No. miles run by cars,
of road-ri-r.
Net earns, per mile of road
Earns, per rev. train mile-.cts.
Exp. per rev. train mile—cts.
Net earns, per rev. tr. mile.cts.
Earnings per car mile
..cts.
Expenses per car mile
cts.
Net earns, per car mile
cts.
Earnings per ton
cts.
Expenses per ton
..cts.
17,291,994
(e)
+4.1612
+ .5982
+3.4138
+3.3673
170.00
11
trains. $42,947,474
Expenses per mile
+3.8317
+ 11.0023
17,979,792
No. miles run by rev. trains (e)
No. miles run by mixed rev.
trains
-
1,098,169
14,
•
99, 286
2, 339
Traffic—
Freight
+2.1800
+9.2363
—14.9039
75 66
■
+ 5.9707
+6.5923
$33,097,751, 89
Operating expenses, freight
22
Net earns, from fr't rev. trains $9,849,722,
$8,910 52
Earnings per mile of road
19.332
+9.0006
7.985 —15.0908
21 072
Expenses per car mile
cts.
Net earnings per car mile-.cts.
Earnings per passenger (d) cts.
empty car..
Earns, from freight rev.
—12.9181
—3.2084
30,425,132
5,172,299,481
171.00
294.75
20.26
d
each train
No. tons in each loaded car
No. of tons in each loaded and
—.4213
+ 1.4594
31.48
1,143,866
- --
No. of miles each ton was car
+4.5648
+ 11.7859
Earnings from pass,
!68.52
car
C.
of road
carried in each train.
14.24
14 18
carried in each car—
trains (c)_ S15.481.951 87 $14 ,806,087.94
$11,713,128 52 $10 ,478,18244
Operating expenses, passenger.
,327,905.80
$3,768,823 35
Net earns, from pass, trains..
$3,143.59
$3,212 12
Earnings per mile of road..'—
$2,224.70
$2,430, 18
Expenses per mile of road
$918.89
$781, 94
Net earns, per mile of road
136.831
!42, 074
Earns, per rev. train mile.cts.
96.834
107 488
Exp. per rev. train mile-.cts.
39.997
34 586
Net earns, per rev. tr. mile cts.
27.317
v.- 27, 852
Earnings per car mile
cts.
No. pass,
No. pass,
C.
total
—1.8728
43.25
42. 44
P.
+4.9977
12,312,662
12,928,015
P.
+2.5566
+ 1.7964
5.01
5. 10
_.
No. of passengers carried—~
No. miles each pass, was car'd.
+2.3340
+ 2.1054
P. C. of
Inc.(+)or
Dec. (—).
1911-1912.
1912-1913.
548,661,206
No. miles run by cars
No. of cars in each
YEAR.
loaded car mileage to
69.53
mileage...
—
empty car mileage to
30.47
total car mileage
32,241,734
No. of tons carried5,513,273,784
No. tons carried 1 mile..
No. tons carried 1 mile per mile
Mileage of road operated (a)._
No. miles run by rev. trains (b)
of road
1911-1912.
Traffic.
Passenger
Inc.(+)or
Dec. (—).
1912-1913.
Traffic.
Passenger
STATISTICS.
AND FREIGHT
NO. X.—PASSENGER
TABLE
TOTALS
1035
CHRONICLE
THE
1913.]
Oct. 11
77 07
$11,934.74
$9,297.13
$3,040.51
+7.4296
71.74
$12,337.64
—.8906
$8,413.36
$3,521.38
Total all Traffic—
+ 1.5754
+.0689
mile of roadPassenger, freight & miscell.
Operating exp. per mile of road
Net earns, per mile of road
Gross earns, per
—4.6407
—1.4138
(a) Mileage of road operated shows average length operated dunng each fiscal year.
(b) Miles run by mixed revenue trains were added to Passenger Train Mileage in
(c) Includes mail, express, excess baggage, parlor and chair car, milk, other passenger
(d) Excludes mail, express, excess baggage, parlor and chair car, milk, other passenger
(e) Miles run by mixed revenue trains were added to Freight Train Mileage
+3.3759
+ 10.5044
—13.6557
„
arriving at results per train mile of Passenger Traffic.
train, and special service passenger train revenue.
train and special service passenger tram revenue.
in arriving at results per train mile of Freight Traffic.
NO.
TABLE
IV.
-BONDED DEBT
AND
LOUISVILLE & NASHVILLE
ESTIMATED INTEREST
Dividend
(Including also Guaranteed
RAILROAD CO, AND SUBSIDIARY. LINES,
CHARGES FOR YEAR 1913-1914.
on
Stock, Nashville & Decatur
Railroad.)
or
Issued.
Authorized.
MORTGAGES ON RAILROADS.
Drawn
for Pay¬
ment.
$
$
Yellow River RR., 1st Mtg.
Evans. Hend. <fc Nashv. Div.t 1st Mtg., Gold.
Pensacola Division, First Mortgage, Gold
_
Southeast & St. Louis Div., 1st Mtg., Gold....
Pens. & Atlantic Railroad, 1st Mtg., Gold
_
Mtg., Gold
New Orleans & Mobile Div., 2d Mtg., Gold
General Mortgage, Gold.
The Gallatin & Scottsville Ry., 1st Mtg., GoldHenderson Bridge Co., 1st Mtg., Gold
Lou. Cin. & Lex. Railway, Gen'l Mtg., Gold..
Lexington & Eastern Ry. General Mortgage..
Madisonville Hartford & Eastern RR., 1st Mtg.
First Mortgage, fifty-year, Gold
Nash. Flor. & Shef'd Railway, 1st Mtg., GoldBirmingham Mineral RR., 1st Mtg., Gold.
Alabama Mineral Railroad, 1st Mtg., Gold
United, fifty-year, Gold
...
Newp. & Cin'ti Bridge Co*, Gen'l Mtg., Gold..
L. & N. and M. & M. Railway, 1st Mtg.,' Gold.
Lou. & Nash., Pad. & M. Div., 1st Mtg., Gold.
Atlanta Knox. & Nor. Ry., 1st Mtg., Gold
Atlanta Knox. & Cin. Division, Gold
Southeast & St. Louis Div., 2d Mtg., Gold.
Kentucky Central Ry., 1st Mtg., Gold
Atl. Knox. & Nor. Ry., 1st Consol'd Mtg., Gold
New Orleans & Mobile Div., 1st
150,000
150,000
2,400,000
600,000
3,500,000
3,000,000
5,000,000
1,000,000
20,000,000
2,400,000
600,000
3,500,000
3,000,000
5,000,000
1,000,000
12,597,000
309,000
2,000,000
3,258,000
1,500,000
1,815,839
1,764,000
2,096,000
3,929,000
3,150,000
500,000
2,000,000
7,000,000
2,500,000
1,815,839
3,500,000
2,500,000
5,000,000
3,150,000
75,000,000
1,500,000
5,000,000
5,000,000
1,500,000
50,000,000
3,000,000
7,000,000
2,280,000
*
64,156,000
1,400,000
4,000,000
4,836,000
1,000,000
25,517,000
3,000,000
6,742.000
-1,280,000
.
10,000
1,430,000
345,000
$
140,000
"5",600
7,000
8,444,000
"17",660
"""2", odd
309,000
930,000
1,468",000
Maturity.
15,000
3,929,000
3,150,000
2,268,000
217,000
1,000
772,000
2,000
38,000
780,000
erest
Yr.1913-14
1, July 1
1, Dec. 1
Sept.1
Sept. 1
1, Aug. 1
1, July 1
1. July 1
1, Dec. 1
1, July 1
1, Sept. 1
1, Nov. 1
1, Aug. 1
1, Dec. 1
l.Nov. 1
1, Aug. 1
1, Nov. 1
1, July 1
1, July 1
1. July 1
1, Sept. 1
1, Aug. 1
1, Dec. 1
1, Nov. 1
1, Sept.1
1, July 1
1, Sept. 1
Jan.
970,000
250,000
3,500,000
1,782,000
4,993,000
1,000,000
4,136,000
Charges for
Interest Due.
%
1 1919
4
Jan.
Dec.
1 1919
6
June
Mar. 1 1920
Mar. 1 1921
6
Mar. 1,
Mar. 1,
6
Jan.
6
Jan.
6
June
4
Jan.
6
Mar.
4H May
5
5
June
5
Feb.
5
May
1940
4
Jan.
1940
4
Jan.
1945
Nov.
Feb.
1937
1937
May
1,996,000 Aug.
5
1936
1937
Nov.
July
61,871,000 July
1,400,000 July
4,000,000 Sept.
4,619,000 Feb.
999,000 Dec.
24,745,000 May
2,998,000 Mar.
6,704,000 July
500,000 Mar.
Feb.
6
I7o68",66O Sept. 1 1931
3,258,000 Nov. 1 1931
1935
32,000 Feb.
1,"749",660
'
6
Aug. 1 1921
1 1930
Jan. 1 1930
June 1 1930
July 1 1931
Jan.
1,815,839
100,000
Interest
Int¬
Outstanding
Owned by
L.&N.RR. in Hands of
Public.
Company.
i,2i"8",666
17,000
Estimated
Redeemed
4M Jan.
43^ Mar.
1945
May
1 1946
4
Feb.
1 1946
5
June
1 1955
4
May
1 1980
3
Mar.
1 1987
4
Jan.
1 2002
4
Mar.
Real Estate Mortgage.
Property, 20-year, 1st Mtg., Gold..
♦Equipment Series "A" 5 per cent Gold
Bonds Outstanding,
Gold
Collateral Joint, Gold.
Matured
....—
or
146,610
1,600
"87", 455
99,800
2,474,840
62,505
180,000
184,760
-
49,950
989,800
89,940
268,160
20,000
Mar. 1,
Sept. 1
30,850
617,000
617,000 Mar. 1 1916
6,500,000
6,500,000 June 1 1923
June
1, Dec.
1
314,167
7,000,000
7,750,000
5,129,000
5,913,500
4,705,000 Nov. 1 1931
5,898,000 July 1 1952
May
Jan.
1, Nov. 1
1, July 1
235,250
235,920
650,000
Collateral Trust Bonds.
Total—L. & ;N. RR. Co
"61,030
6,500.000
Equipment Trust Ponds.
First Mortgage Trust,
a L. & Ni-Sou», Monon
60.000
245,225
5,703,845
213,895,839 159,999,839 13,714,000 13,715,839 132,570,000
St. Louis
54,350
13,750
210,000
104,495
299,580
424,000
15*500
471,170
10,603,000
439*500
11,042,500
14,750,000
235,795,839 178,159,339 13.7J4.000 14,155,339 150,290,000
6,520,032
Drawn for Sihk-
'
ing Funds, Not Presented.
Mobile & Montgomery Ry., Income
4,000
1,000
2,000
1,000
4,000
1,000
Bonds
City of Louisville, Lebanon Branch Extension. _
Lou. Cin. & Lex. Railway, First Mortgage..
Lou. & Nash. Sinking Fund, Gold
Evans. Hend. & Nashv. Div., 1st Mtg., Gold..
General Mortgage, Gold
General Mortgage, Gold
General Mortgage, Gold
Henderson Bridge Co., First Mortgage
Pensacola & Atlantic RR., 1st Mtg., Gold
Pensacola & Atlantic RR., 1st Mtg., Gold.
Total Bonds due and unpaid, L. & N. RR__
Mortgages
on
Railroads Operated,
Controlled
Through Ownership of Capital Stock.
Bay Minette & Ft. Morgan RR., 1st Mtg., Gold
Owensboro & Nashville Ry., 1st Mtg., Gold...
Morganfield & Atlanta RR., 1st Mtg., Gold
Jan.
1 1897
April 1
Dec.
1910
1 1912
June
2,000 Sept. 1 1912
1,000 Feb. 1 1911
2,000 Feb. 1 1913
80,000
1
Jan.
1, July
Nov, 1 1931
May
1, Nov. 1
June 1 1932
June
1, Dec.
2,708,000
1,920,000
7,292,000 Aug. 1 1936
Aug. 1 1936
Feb.
1, Aug. 1
1, Aug. 1
4,628,000
7,292,000
225,000
1,200,000
500,000
1,925,000
10,000,000
1,920,000
11,920,000
3,000,000
2,535,000
35,000
3,553,750
1,979,600
1 1930
1,925,000
10,000,000
2,000,000
July
225,000
1,200,000
500,000
12,000,000
on
1 1890
Oct. 15 1893
1 1909
1,000 June 1 1912
61,000 June 1 1913
3,000,000
Mortgages
Jan.
500,000
2,000,000
500,000
1
Railroad not Owned hut Operated hu
L. & N. Railroad.
5 South & North Alabama RR., Consol'd, GoldSouth & North Alabama RR., Imp., Gold
Feb.
364,600
364,600
Mortgage on Property not Owned hut Operated by
L. & N. Railroad,
c
Louisv. & Nash. Terminal Co., 1st Mtg., Gold
Stock on which Dividend is Guaranteed.
3,553,750
Nashville & Decatur Railroad..
E Total
estimated
interest charges,
4
1,574,150 Guaranteed
by L. & N.
7K Jan.
1
100,000
118,061
1913-14.-
Of this issue of bonds,
guaranteed by the two railroad companies.
Dec. 1
l.July
7,102,693
$325,000 are due June 1 and December 1 of each year, the last maturity being June 1 1923.
a Total amount of bonds authorized $15,500,000, issued $11,827,000, of which this Company's liability is one-half.
the outstanding bonds, $1,515,000 are registered as to both principal and interest, and the interest thereon is payable
July 1 and October 1.
6 Principal and interest guaranteed by Louisville & Nashville Railroad Company.
,
c This property is operated jointly by this Company and the Nashville Chattanooga & St. Louis Railway,
♦
June 1,
2,500,000 Dec. 1 1952
Of the L. &: N. proportion of
quarterly, on January 1, April 1,
,
«■
the principal and interest being jointly
' «
1036
THE
NORTHERN
CHRONICLE
PACIFIC
[Vol.
xcvii.
RAILWAY COMPANY.
SEVENTEENTH ANNUAL REPORT—FOR THE
Ojfice of the Northern Pacific Railway Company,
34 Nassau
St„ N. Y,, Sept. 15 1913.
FISCAL YEAR ENDING JUNE 30 1913.
PASSENGER BUSINESS.
•
To the Stockholders
of the Northern
The
following,
Passenger
$464,283 70,
Pacific Railway Company:
'•+
Increase (+) or
Decrease (—).
$
'
>
$
43,793,521 58 52,270,685 94 +8,477,164 36
15.343,752 05 15,808.035 75
+464,283 70
Transportation:
Freight.
Passenger.
Other
v.'••v'
1912.
Revenue from
from
revenue
trans-
3,357,864.67
j'
~
10,526 64
11,609 88
structures
7,861,490
7,207,716
Traffic expenses
1,202,292
Transportation expenses...20,756,386
57
....
+1,083 24
10,188,053 94
49
8,532,671
1,309,800
23,569,379
1,130,630 56
1,073,392
+2,326,563
+1,324,955
+107,508
+2,812,992
74
65
81
75
23
37
25
43
38,158,517 02 44,673,298 15
+6,514,781 13
(average)
6,333 27
7,136 48
Per mile (average)4,193
Outside Operations:
37
4,473 40
.
Sleeping,, parlor,
observa¬
tion, dining and cafe cars
and restaurants..
312,750 94
'
308,820 28
—3,930 66
...25,578,180 54 28,311,660 85
+2,733,4S0 31
3,739,079 37
(average)620
Operating
income--...'..21,839,101
Other Income:
Dividends and
■
I; '. V :'".
interest
3,999,028 08
58
+259,948 71
+18 26
638 84
17 24,312,632
..-
•
77*'
+V;;.!
+2,473,531 60
:•'!+ "
+V
on
securities, interest on deposits and miscellaneous. 2,299,856 67
Rentals received
2,116,171 16
Hire of equipment—_____
615,815 58
EXPENSES.
MAINTENANCE
OF
EQUIPMENT.
The
charges for maintenance of equipment were
$8,532,671
74,^ an increase of $1,324,955 25, or 18.38%. "The in¬
crease is
largely accounted for by the increased volume of
traffic and to a lesser extent
by the improved condition of
the equipment, as shown
by the fact that 82.80% of the loco¬
motives were in good condition
abthe end of the year, as, com¬
pared with 78.44% the previous year; 891
passenger cars
were not due
in shops for two
months, as compared with
837 cars the previous
year, and 3.31% of the freight
2,077,682 81
2,232,902 32
315,288 14
was in need of
repairs of $5 00 or over per car,
pared with 3.90% at the end of theprevious
year.
—222,173 86
+116,731 16
—300,527 44
58 28,938,506 04
+2,067,561 46
LOCOMOTIVES.
Gross income.261870,944
Rentals paid
stock.-17,360,000
Totals
00
537,303 22
6,837,685 00
it,360,000
*
7.3
L10
+10,983 26
+156,875 00
00
Less amount appropriated to
v
cover
sundry claims.....
Net Surplus for the year.
Ratio
of
ating
taxes
to
total
+1,899,703 20
750,000 00
on
previous
61.47%
5.50%
—.40%
5.90%
OPERATED.
follows:
1
1
1
Dec. 15
Dec. 29
1912.
1912.
1912.
1912.
1912.
Withdrawn
as
1 1913.
a
Miles.
hand engines withdrawn from service.
considerable number may be sold.
HAULING CAPACITY.
Minnesota,
73.70
Purchased....
Returned to active list
__________
sidings
Washington,
__!_•___
Mileage operated June 30th 1912.
year
.
175,000
22,104,000
48,058,600
216,138,238
273,844,648
2,370,900
11,073,065
13,240,540
45,687,700
205,065,173
260,604,108
477,164 36,
or
was
•
280 75
*
Sold,or
Permanently
Owned
June 30.
Withdrawn
1912. from
Total. .*1,433
Prev. yr.
.6,259.85
Average Weight
of Locomotive
v
Added.
Owned
June SO.
Service.
142
Force
On Drivers.
Lbs.
1,366
75
Total.
95.39
75.06
65.08
33,446
30,791
88.22
Number.
Per Cent.
1.131
82.80
10.03
137
shops..
98
an increase of
$8,the previous
year.
freight were moved one mile,
tons one mile, or 23.38
Number of oil-burning locomotives
Number of locomotives equipped with
over
*
per cent
superheaters._
3.44
13.91
189
Includes 17 locomotives held for sale.
PASSENGER
On June
30
1913
the
EQUIPMENT.
company
owned
train cars,
Pullman
kind of
1,162 passenger-
including 130 sleeping cars owned jointly with the
Company, a net increase of 1 car.
The number and
cars
owned is shown in table
Of the 1,162
for two months
.
100.00
47
—
7.17
1,366
revenue
The rate per ton mile decreased from
.00867 to .00839.
The revenue train-load increased from
510.54 to 541.62
tons.
The total-train load,
including company freight in¬
creased from 593.78 to 637.11 tons.
The number of miles,, run
by revenue freight trains was
10,794,507, an increase, of 1,497,966, or 16.11
per cent.
•
■
Tractive
1913.
$52,270,685 94,
increase of 1,180,987,156
over the previous
year.
an
At
Average
without Tender
Tons of 2,000 lbs.
Condition—
Good...
BUSINESS.
19.36 per cent
6,232,168,637 tons of
v
r
4
Fair
revenue
498,050
following statement shows the character and condition
of the locomotives of the
Company on June 30 1913:
•
EARNINGS.
FREIGHT
of Engines.,
(Pounds.)
251,417,598
The
,
6,312.54
Average mileage operated during the
Total Weight
86,700
♦Account compound engines
changed to simple.
-.-1.6,03179
Mileage operated June 30th 1913
126
.1,366
2.14
Net additions
Freight
123
17,546,000
315,750
•
per¬
Total
.19
Total deductions.
1,492
Weight
Drivers.
(Pounds.)
198,189,788
15,200
4,062,000
81,500
70
,
Sold, dismantled and
manently retired
"
Boulder Branch in
Montana, track taken up. "1.61
Corrections in rechaining
:
[34
6
___
-
Total..
.46
•
0
on
(Pounds.)
43,899,900
8.88
282.89
;
Lewiston Branch in
Number.
-
con¬
Washington, line change..!.
additions;...
Palouse &
Assignment June 30 1912.-.1,416
Added during fiscal year*L_
......^
Wilkeson Branch in
Active List—
54.81
Dakota, completed....
„
___
'
:
Total
Power.
.
92.40
52.64
Glendive East Branch in
Montana, completed...
Midland Railway of
Manitoba, leased
Cuyuna Northern Railway in
•
14
on
Tractive
v
Wilton Rranch in North
Dakota, completed
Mandan Branch in North
track transferred to
June 30 1913.
June 30 1913.
137
_
;
Deductions:
:
Jan.
__126
___
•'
Leaving
.1,366
11.
above.
'
of which
i.
hand from
Less sold and dismantled
V
'
.
.
Total
1,492
v+;
added:
structed
Dec. 31 1912.
_
-
__
Aug.
Aug.
Aug.
were on
year:
•
were
_
126
__
Held for sale
+1.31%
Changes have taken place in the mileage operated
during
the
There
.
year
active list June 30 1913
In addition to the engines on the
active list there
.
.
year as
—
+1,149,703 20
•
60.16%
___.
76
—
-
.
_
Engines withdrawn from service during
3,453,517 82
' +
MILEAGE
•
•
■
_
+750,000 00
oper¬
revenue—
.10
6
Total
:
From which should be deducted:
Total
Ratio of operating expenses to
total operating revenue
1
++167,858 26
4,203,517 82
__________
2,303,814 62
50
...
:___
Returned to active list from 17
engines held for sale
A:,
V
.-_._1.416
.'
*
•'i-i.lO
Engines
_
2,303,814 62
VI•'.+'5 V-r-
active list June 30 1912
on
Mallet Engines.
Switch
.....
24,567,129 96 24,734,988 22
Surplus
\
■
526,319 96
6,680,810 00
__
'
as com¬
■
Total number of locomotives
To which have been added:
W3
Mikado Engines..
Deduct:
Interest on funded debt
Dividends on
equip¬
ment
.
•
t
<
charges for transportation expenses were
$23,569,379 23, an increase of
$2,812,992 48, or 13.55%, as against
an increase in total
operating revenue of 14.31 %..
+280 03
.
Taxes Accrued..
Per mile
increase of
an
The
+2,737,410 97
Total net revenue
661,517,397,
CONDUCTING TRANSPORTATION.
+803 21
Net operating
revenue...25,265,429 60 28,002,840 57
,•
was
OPERATING
16
48
—57,238 13
General expenses..........
Totals."
mile
,
+
•
Maintenance of equipment.
Per mile
one
9,113,157, an in¬
and the number of
year,
•
and
way
passen¬
or 1.85 per cent.
The number of miles run
by revenue passenger trains was
11,508,781, an increase of 153,317, or 1.35 per cent.
The rate per
passenger per mile was .02390 and .Q2362 last
year.
■.
•
+
+, V-'"; ■+ +.v-:;
'
>.
Operating Expenses:
of
on
increase of $592,008 96,
an
12,009,214,
+9,252,192 10
Maintenance
$18,482,252 61,
passengers carried
'
+122,032 83
Total operating
revenue.63,423,946 62 72,676,138 72
18.62 per cent.
or
for persons and
property carried
previous
1,050,841 15
Per mile (average)...
04,
was
3.31 per cent, over, the
previous year.
The number of
passengers earned was
crease of
451,512 over the
+9,130,159 27
,a
928,808 32
of
•
or
+188,711 21
-.
62,495,138 30 71,625,297 57
Revenue from Operation other
than transportation
•
3,546,575 88
increase
an
the previous year.
an increase of $3,019 46,
over
$984,547 79,
was
revenue
trains
ger
•
,
portation
Totals....
Total
1913.
$
_
$15,808,035 75,
cent,
Express revenue was $1,355,618 15, an increase of
$72,265 76, or 5.63
per cent,.
;
;'Excess baggage and
miscellaneous passenger revenue was
$334,050 92, an increase of $52,440
INCOME ACCOUNT.
''+!■
per
.31 per cent.
or
'
'
was
3.03
or
Mail revenue
being
the Seventeenth Annual Report,
shows the result of the
operation of your property for the
fiscal year ending June 30 1913:
■v'-
revenue
cars
or
owned, 891
more.
;
cars
on
page 43.
were
^
not due in
shops
Oct. ll
FREIGHT
\
EQUIPMENT.
Comparative number and capacity of freight cars:
No.
-23,846
565
;
-
Box-.
Furniture.
Refrigerator
1,553
Stock
2,562
8,230
17
Flat
.
Oil...
—
Coal.
—
Ballast and ore
Totals
*
.....
5,651
796
and 36 temporary
'
*
and 8
Inc. or Dec.-
—1913
1912
—
.,,v,
Capacity.
;
Capacity.
Capacity.
(Tons.*)
No.
(Tons.*)
No. (Tons.*)
873,685 24,957
929,365 1,111
55,680
17,900
817
28,650
252
10,750
41,125 3,462
108,365 1,909 67,240
57,715
2,490
56,125
72
1,590
284,700
8.396
293,225
166
8,525
455
76
2,935
59
.2,480
251.610 5,745
266,415
94
14,805
31,840
1,04543,505
249
11,665
——43,220 1,559,030 46,988 1,728,585 3.768 169.555
.
Percentage
—
8.72% 10-88%
36.8 —_
* Of 2,000 lbs.
....
36.1
Average capacity per car
.
Note.—Figures in black face denote decrease.
changes referred to above, 4 permanent
bridges were abandoned by line changes
permanent and 158 temporary structures were added
In addition to the
;
,
1037
CHRONICLE
THE
1913.J
lines.
new
on
rebuilt, 15 in te
106 timber culverts were
in permanent form.
4
There are now under
construction
freight
the road
cars on
1913, only 1,558, or 3.31%, were in need of
$5 00
on
single-track and 535 lineal feet of double-track,trusses, one
double-track drawbridge, 272 lineal feet of re¬
inforced concrete trestle, one steel highway bridge 738 feet
long, one steel and concrete highway bridge 930 feet long
and 1,006 lineal feet of concrete subway.
256-foot
equipment shown as on hand June 30 1913,
the following have been authorized and will be purchased
or built at the Company's shops during the current year:
Passenger-Train Cars—
Postal
'
I...
cars
,
,
Freight-Train Cars—
capacity
: •
Box cars—40-ton
12
'
•
Cabooses
Total.....
operating
the following
expenses on
equipment, viz.:
'
Commerce
amounts have been, charged to
account of estimated depreciation of
•
,
$383,436 65
Locomotives..
i;
Passenger cars
Freight cars.
Work cars..!
Floating
.3,631
OF EQUIPMENT.
In accordance with the rules of the Inter-State
Commission
94,805 56
652,175 08
...
23,747 96
2,044 26
equipment..
v
.
-Aggregate Length-
■
Lineal Feet.
Miles.
620
106,059
20.08
-2,805
425,970
80.68
-3,425
532,029
100.76
No.
structures
-
Total
or
— —
Total length of timber structures replaced by steel bridges,
in other permanent form from July 1st 1885, when work was
to June 30th
embankment
commenced,,
;v
1913 has been 127.33 miles.
BUILDINGS AT
—
—
DEPRECIATION
'
'■
•
.
250
557
18—3,619
—
EXISTED JUNE 30 1913.
'
Steel, iron, stone and concrete permanent bridges
Timber
and combination iron and timber
...2,143
...
651
— .___
Refrigerator cars—35-ton capacity.
Stock cars—40-ton capacity..
Flat cars—35-ton capacity..
-
(
...
——.—
'■•••.'
:
repairs costing
In addition to
operated lines 1,436
girder and I-beam spans single-track, 100
lineal feet of steel girder double-track, 1,350 lineal feet of
June 30
or more per car.
and 91
lineal feet of steel
BRIDGES AS TIIEY
Of the total number of
on
nporary
New
STATIONS.;
buildings and structures, or increased
facilities, have
provided at the following stations:
Minnesota.—West Duluth, Northtown, Brainerd, East
Grand Forks, Staples, Willow River, Summit, Flensburg,
Aldrieh, Benson.
<7;\'/
v
North Dakota.—Alfred, Chaseley, Tuttle, Regan, Valley
been
City, De Lamere, Haggart, Mandan,
Rogers.
Laurel, Toston, Helena, Yates,
Reed Point, Perma, Dixon, Huson.
Idaho.—Fort Lapwai, Fenn.
:
:!^i
ft asliington — Grandview, Selah, Sumner, Chehalis, Ev¬
erett, Pasco, Toppenish, North Yakima, Walla Walla,
Hollywood, Preston.
>: ■ .7 //'■ V-:::;
Montana.—Glendive,
SI,156,209 51
ENGINE FACILITIES AND YARDS.
SHOPS,
MAINTENANCE OF WAY AND STRUCTURES.
The
jcharges for Maintenance of Way and Structures
were $10,188,053 94, an increase of $2,326,563 37, or 29.59
per cent/
' V: ; .y^7r.£; ■
•;
' 77.7
;;;
An analysis of the detailed statements of the principal
the table showing
items of work done which follows, and
of the items of expense which appears in
the distribution
Comptroller's report on page 32, will show that in addi¬
tion to the increased maintenance incident to1 the operation
Buildings, tracks, turntables or increased
been provided at the following points:
Minnesota
—
facilities have
Duluth? West Duluth, Minneapolis,
East
Minneapolis, Dilworth'.
North Dakota.—Jamestown,
Mandan.
Montana.—Town send, Logan, Missoula.
•
Washington.—Pasco, Parkwater,.Auburn,
Centralia.
.
,
;
:
the
of
234.76
more
miles of road,
a
large part of the increase
results from relaying 594.94 miles with heavier rail as com¬
pared with 278.77 miles relaid in the previous year and a
large increase in the number of sidings and spurs constructed
to care for the increasing volume of traffic.
The roadbed
and structures are in first-class condition, notwithstanding
the heavier traffic and the heavier motive power used in
general on the system.
The following statements give particulars of the work done
and show that the property has been well maintained:
STATIONS.
FUEL
Additional
or
increased facilities have been provided at
the
following points:
'
Minnesota.—Fertile, East Grand Forks.
North Dakota.—Wahpeton, Carrington, Jamestown.
Montana.—Bearmouth.
/
Centralia,
Parkwater,' Auburn,
Washington,—Tacoma,
Easton, Lester. >
•
.
.
WATER
.
-j'
PERMANENT WAY.
1912.
•
85-pound rail
Main line relaid with 66, 72 and 85-pound rail..
Second track relaid with 90-pound rail
....
Branch lines relaid with 96-pound rail
Branch lines relaid with 66, 72 and 85-pound rail
Sidings and spurs constructed
...
Main line relaid with
-
Track ballasted
—
Embankment widened.
Timber bridges replaced by
and embankments, 55 in
IN
47.23
388.96
2.92
6.89
2.00
164.58
96.74
"
40.79
115.63
"
"
457.49
130.03
304.82
;51.54
.
MAIN, SECOND AND TlIIRD TRACKS.
-—-—Miles
1912.
;
100-pound
90-pound
85-pound
80-pound
76-pound
steel
steel
steel..—
steel
steel
1,236.78
1,943.32
2.26
.
5.14
901.68
41.02
72-pound steel
70-pound
steel
607.93
66 and 67-pound steel.
207.42
60-pound steel
56-pound steel
Otherweights
following points: '
Minnesota.—Sartell, Elk River, Fergus Falls, Rush
North
Dakota.—Haggart,
—
1913.
47.23
1,691.82
1,563.03
2.26
5.14
1,155.01
43.86
589.67
209.35
1,549.69
11.10
1,407.71
6,506.34
Idahoi—Garbs Fork.
6,726.18
11.10
Washington.—Parkwater, Centralia, Kanaskat,
BLOCK
signals have been installed and placed in service at
following points:
/
%
Minnesota.—St. Cloud-Rice's.
Idaho .-^-Sand Point-Athol,
|&
fe, Total
14,670 lineal feet.
2,781 lineal feet.
—
....
—
60 bridges, 17,451 lineal feet.
-
,
Hauser-Spokane.
Washington.—Tenino-Kalama, Spokane-Cheney.
installations of automatic block
signals are now in progress on Lake Superior Division be¬
tween St. Paul and Duluth and Carlton and Superior—
Montana Division between Huntley and Billings—Pasco
Division between Sunnyside Junction and Ellensburg—_
Seattle Division between Ellensburg and Cle-Elum and Les¬
In addition to the above,
ter and
Auburn..
On June 30
were
on
7
•
2,485 miles of important1 main
line there
protected by automatic block signals and
miles protected by manual block.
565.40 miles
707.90
INTERLOCKING PLANTS.
Interlocking plants are being installed on draw-bridges at
Grassy Point, Pasco, Sand Point, Aberdeen and Hoquiam,
and in the yards at Staples, Minnesota, and Marshall, Wash¬
ington.
V
.
AND WHARVES.
DOCKS
During the year 144 bridges were replaced, of which 84
bridges 15,945 feet in length were replaced by timber struc¬
tures and 5 permanent and 55 timber structures were re¬
placed in permanent form, as follows:
Olympia.
SIGNALS.
Block
the
BRIDGES.
Replaced by embankment
41 bridges,
Replaced by truss, girder, I-beam and reM enforced concrete trestle
19 bridges,
City.
Dickinson,
Esmond,
Horace,
Ladoga.
.•
Montana.—Forsyth, Noxon, Homes take, Elliston.
6.05
4.42
'■
"
"
"
1,034,312 1,021,332
'
3.89
3.17
Ill
84
1.
119
106.
Miles.
102.62
76.23
• "
•
10.82
4.30
fence constructed....
RAIL
—_
102.38
,
SUPPLY.
increased facilities have been provided at
.
"
New stock fence constructed.
snow
9.67
permanent structures
,
number, equal to
Miles.
Timber bridges renewed
Timber culverts replaced
New
12.08
—.
79.30
Ties^l.845,781 2,103,476
—
Cross tie renewals, main line...
Cross tie renewals, branch lines
-
199.85
2.74
V
Main line relaid with 90-lb. rail
or
the
1913.
15.79
29.40
1.06
>15.15
85-pound rail
Miles.
New second track laid with 90-pound rail
"
New third track laid with 72-pound rail....
"
New branch lines laid with 72-pound rail...—
"
New branch lines laid with 56, 60 and 70-lb. rail
"
Main line relaid with 100-pound rail
....
"
New second track laid with
Additional
Seattle, Washington, foundation piles under
being renewed.
Pier No. 5
are
CHARGES TO CAPITAL ACCOUNT.
Upon requisition of the Executive Officers,
the Board of Directors,
the past
fiscal
year
for:
approvedjby
expenditures have beenomade during
.
..
?
1038
THE
Real Estate, Right of Way and Terminals:
At
'
5
-
495 18
$61,840 00
Branches, Line Changes, Grade Revisions
and
Second Main Track:
Superior, Wisconsin, track to
struction)
,-4
.
,;
ore
dock
(con-
,
Edgeley, Missouri River Line, North Dakota
$217,328 02
(right of way)
Pingree West Line, North Dakota (construc¬
tion)
132,878 06
-
Lake
Basin Branch, Montana
(surveys and
right of way)
Spokane, Washington, grade separation (con¬
struction)
Point
Defiance
•
'
SPOKANE
279,693 19
—
.
—
—
——
—
Washington (right of way)
Ocosta Branch
Extension, Washington (cofin
—_
struction).
Rights of Way at Seattle, Washington,
change of line and new tracks
Sundry surveys and expenses
St. Cloud to
track
'
«r
7,134 06
—
•
$10,317,000 00
SEATTLE
RAILWAY
1
1912.
.
•
556.15
--$4,814,560 85
2,476,258 23
$2,338,302 62
13,094 42
$2,644,920 46
1,695 74
.$2,351,397 04
527,404 78
$2,646,616 20
640,800 00
.$1,823,992 26
1,104,451 97
$2,005,816 20
1,389,844 81
$2,928,444 23
813,331 37
$3,395 661 01
879,523 63
$2,115,112 86
expenses.....
$5,341,465 67
2,696,545 21
$2,516,137 38
Net operating revenue.:
Total net revenue.
Lesstaxes.
and double track
to
Vancouver,
Operating income—..
119,053 01
:
Washington,
$90,189
2,880
139,234
81,190
436,157
44,316
171,578
554,922
<14,063
315,209
254,685
31,976
464,648
755,363
15,126
Real estate
"Widening cuts and fills
Protection of banks and drainage
Grade reduction and
change of line..
Tunnel improvements
-
—
Bridges, trestles and culverts
Increased weight of rail.
Improved frogs and switches
Track fastenings and
appurtenances
Ballast
-
-
;
Additional main tracks
Sidings and spur tracks
Terminal yards
Fencing right of way
Improvement of crossings,
under
and
apparatus.
38,576
434,783
1,611
645,859
299,193
366,079
14,295
12,478
39,226
-
*
..
Expenditure.
Locomotives _-$2,055,879 30
Passenger train
cars
35,450 63
Freight train cars
and work cars 6,077,442 96
fy-tt-"-'
\
V*
";.V.Y
'
••
Miles operated
Operating
Operating
19.13
72.81
$787,476 09
480,533 28
expenses
Operating income.—
Miscellaneous income
-
—
—
—
.
Gross income
Interest on bonds and notes
Balance
5,699,170 01
1912
.
revenue
Net operating revenue.
Less taxes
Charged
from Reserves.
Capital.
*
$663,309 94 $1,392,569 36
—
...
-
-
132.07
$1,108,421 76
720,798 08
$306,942 81
47,440 10
$259,502 71
4,277 75
$387,623 68
51.453 36
•<
$336,170 32
1,069 13
$263,780 46
116,483 06
$337,239 45
144,336 68
$147,297 40
$192,902 77
The Oregon Trunk Railway, The United
Railways Com¬
pany and The Pacific Eastern Railway are
operating the
mileage as shown in the last annual report.
properties of the Or. El. Ry. Co. are controlled and
managed by the Spokane Portland & Seattle Railway Com¬
pany, the securities of which are owned one-half by your com¬
pany and one-half by the Great Northern Railway
Company.
same
All the
21,037 89
14,412 74
392,399 26
5,685,043 70
7,092,025 80
^
Total for the year—
$16,556,321 75
——
In addition to the above amount added to the cost of the
Northern Pacific Estate, advances have been
made..during
the year to sundry
companies, as follows:
„
Midland Railway Company of Manitoba*
Clearwater Short Line Railway
Company
Missouri River Railway
Cr.$l,497,116 91
4,970 01
233,185 60
202,098 21
__Cr. 78,551 46
5,153 02
Company
1
Western Dakota Railway Company.
Connell Northern Railway
Company
■_
Shields River Valley
Railway Company.
Olympia Peninsular Railway Company.
15 25
Kennewick Northern Railway
Company.
63 04
Bear Creek & Western
Railway Company
91,183 89
Camp Creek Railway Company
6,029 24
Cuyuna Northern Railway Company.-:
156,779 67
Missoula & Hamilton Railway
Company.
55,974 96
Gilmore & Pittsburg Railway
Company..
-_Cr.l04,579 17
Spokane Portland & Seattle Railway Company
862,688 77
Northern Pacific Terminal
Company of Oregon, account of
Sinking Fund.
,t
38,609 86
-
-
-----
■___
—
——————
Net reduction during the year...
$23,496 02
Capital stpck has been received from the Midland
Railway Company
during last year and previous years;
—
—
THE MIDLAND RAILWAY CO. OF MANITOBA.
operation of the line of this Company (owned jointly
by your Company and the Great Northern Railway Com¬
pany) in connection with the line leased from the Canadian
Northern Railway Company from Pembina to
Winnipeg,
began Dec. 15 1912.
Up to June 30 1913 advances amounting with interest to
$4,333,038 55 have been made by the joint owners to the
Midland Company.
For your Company's one-half, capital
stock of the par value of $2,150,000 has been
received, which
,
is carried in the balance sheet under the head of "Securities
of
Proprietary,. Affiliated and Controlled Companies—
unpledged"; the balance of the advances made by this Com¬
pany, $16,519 27, remaining in "Advances to
Proprietary
Companies."
•
:
VANCOUVER, BRITISH COLUMBIA.
The Northern Pacific
1913
ACCRUED
DEPRECIATION OF
equipment.
■
f
Credit balance, reserve for accrued
depreciation July 11912.$li,201,799 33
Credits for year ending June 30th 1913:'
From charges to
operating expenses and outside operations: «
"
has
invested
Railway Company
$1,363,165 76 in
.
/
to June 30"
the purchase and im¬
up
of terminals at Vancouver, which, amount is
the books under the head of "Miscellaneous In¬
vestments."
'
:
provement
carried
on
•
.
•
Maintenance of equipment,
depreciation_$l,156,209
Maintenance of equipment; renewals
251,854
Outside operations, depreciation
91,519
From salvage
483,994
From equipment sold and destroyed
54,381
51
23
$13,239,759 02
Passenger
cars____
Freight cars—1
Miscellaneous equipment
—
-
94
89
1,076,747 09
ore
dock is
change in the
DEBT.
amount of
capital stock
outstanding during the year, viz.: $248,000,000.
Changes in Bonded Debt were as follows:
Lien
bonds issued under Article One,
Mortgage..
1
Deduct Prior Lien bonds purchased and
_____
Article
...
Section
_.,
—
.
4
of
_$1,500,000 00
canceled
Eight, Section 2, of Mortgage
Increase in bonded debt.
steel and concrete structure with 102
Cuyuna Northern Railway.—The line north of the main
line of the Northern Pacific Railway has been
completed.
The actual length of track constructed is 5.16 miles.
Minnesota
&
.
PrioV
a
pockets of 35,000 tons capacity.
MINNESOTA.
$12,163,011 93
CAPITAL STOCK AND
no
CHANGES.
Superior.—A branch line has been constructed from the
present.main line in Newton Avenue, Superior, to the waters
of Superior Bay, near the mouth of the
Nemadji River, to
serve the ore dock being constructed
by the Cuyuna Dock
Company, a distance of 1.8 miles.
The
76
50
Credit balance June 30 1913
There has been
LINE
WISCONSIN.
44
Less equipment retired:
$663,309
21,037
359,831
32,567
AND
95
2,037,959 69
-
DOUBLE TRACK, GRADE REVISIONS
56
i
Locomotives —4
NEW LINES,
M V-;.
•
•
-
under
513,000 00
$987,000 00
.
The
—
of Manitoba for advances made to it
hence this credit.
:'
—
OREGON ELECTRIC RAILWAY COMPANY.
83
20
65
51
00
83
02
09
53
$8,168,772 89 $1,076,747 09
FOR
...
gross
The results of the operation of this
property for the year
as shown
by the accounts of that Company, compared with
the previous year, were:
86
82
30
Less used
—
earnings of the above company on business
exchanged with the Northern Pacific Railway Company for
the fiscal year approximated
$2,007,000.
350,959 89
Snow and sand fences and
snowsheds...
Other additions and betterments-
New Equipment:
The
80,704 15
46,134 03
.t.
Block and other signal apparatus
Telegraph and telephone lmes
Station buildings and fixtures.
Roadway machinery and tools
Shops, enginehouses and turntables
Shop machinery and tools
Water and fuel stations.-.
Dock and wharf property
Total
84
30
60
23
78
23
35
45
51
56
97
01
Cr-2 275 53
Elimination of grade crossings
—
Gross income—.
Rents, interest, hire of equipment, &c
Balance
over
grade
.
—
3,703,285 94
Additions and Betterments:
Right of way and station grounds
'
—
Other income
(rents, &c., received)..
grade
revision and double track
Cr.127 467 39
Sundry double track adjustments in Montana.
911 50
RESERVE
—
27,253 23
Washington, grade revision
Tenino
-
£
1913.
555.86
—<
revenue
Outside operations
31,344 16
24,667 48
second main track
Lester to Easton,
,
—
00
00
00
00
00
00
00'
00
00
-
main track
*
? jj' "> V' ' * s'i "'
CO.
The results of the
operation of the Spokane Portland &
Seattle road
(including the Astoria & Columbia River RR.,
merged March 1 1911) for the years
ending June 30 1912
and 1913, as shown
by the accounts of those Companies
have been as follows:
Operating
Operating
Rice's, Minnesota, second main
Billings to Laurel, Montana, second main track
Mile post 73 to Yardley
(Spokane) .Washington,
Interlocking
&
Miles operated
116,441 29
9,449 81
Cr.10,246 16
Bloom to Jamestown, North
Dakota, second
..
PORTLAND
3,999 78
for
-
j, •
'
24,782 25
Line, Tacoma to:? Tenino,
Washington (construction)
2,769,489 19
Edgecomb to Kruse, Washington (constructlon) a.—
iw——^
J
14,127 87
Gray's Harbor & Columbia River Railway,
't
Prior Lien bonds
.$4,506,000
Northern Pacific-Great Northern
Joint bonds
868,000
Chicago Burlington & Quincy General
Mortgage bonds
3,350,000
Great Northern
Ry. Co. First and Refunding bonds
1,000,000
Southern Pacific
Ry. Co. First Refunding bonds
171,000
Atchison Topeka & Santa Fe
Ry. Co. Trans. Short Line bonds
220,000
Oregon Short Line Ry. Co.
Refunding bonds
100,000
Colorado & Southern
Ry. Co. Refunding and Extension bonds
100,000
Northern Pacific Terminal
Company bonds
2,000
—
62,446 59
,
>*f
sold to provide funds for
general construction purposes—
yards
new
xcvii.
V
■
During the year bonds hfeld as Treasury Securities
(in¬
cluding part of Prior Lien bonds issued as stated
above)
were
$647 89
48,179 69
12,517 24
—
Balance of charges account of
sundry
and facilities-
[Vol.
t
Superior, Wisconsin, real estate
Minneapolis, Minnesota, real estate
St. Paul, Minnesota, real estate.
v.
CHRONICLE
International,
Railway,• Leaks
Cut-Ofc 5.8
miles.—-A change of line from Leaks
to^Brainerd is uhder
construction.
This connects with the Northern Pacific
main line a short distance west of the
Mississippi' River
bridge at Brainerd, and whem completed will enable the
Minnesota & International Railway (a controlled
line) to
,
cross
the river
on
of its old line between Leaks and
.^7:,, /:;7
•>';*
Valley to Heiberg.
Change of Line, 3.04 miles.—This
improvement consists in revision of line between Twin Valley
and Heiberg on the Red Rvier Branch, providing a 0.3%
grade eastbound with no adverse grade westbound, reducing
distance 2,204 feet and eliminating 396 degrees of curvature.
The present line has 1.20% grades in both directions.
•
Brainerd.
Twin
NORTH
DAKOTA.
■;
.
for the line from
Stanton westwardly, a distance of 62 miles, is in progress,
and will be completed this year.
Bloom to Jamestown, Second Main Track.—Completed in
November 1912.
The length of track laid is 4.85 miles. ;
~
Western
Dakota Railway.—The grading
WASHINGTON.
7.'/
'
Moab
Trent,
to
1.
«,
i.«
Grade Revision, 2.93 miles—-The minor
grade revisions have been completed.
Spokane Grade Separation.—A separation of grades in the
city of Spokane was commenced in January 1913 under con¬
tract, and was continued until April 26 1913, when, owing to
injunction suits, the work was entirely shut down and con¬
tract canceled.
Easton to Lester.—The construction of a
second track, in¬
cluding line changes, over the Cascade Mountains, between
Easton and Lester, a distance of approximately 15 miles,
has been authorized.
Work was commenced in December
1912 and is
progressing satisfactorily.
Maywood, Revising Grade and Raising Bridges.
This work has been completed.
Tenino to Vancouver, Second Main Track, Line and Grade
Changes.—This work is completed.
Point Defiance Line, Tacoma to Tenino.—This work has
been steadily in progress during the year, and grading is well
advanced toward completion.
The excavation of the long
tunnel is finished and the tunnel is completely lined for 2,810
feet.
The total length of the tunnel is 4,380 feet.
Track will not be laid until next spring.
Wilkeson Branch, Change of Line, 0.9 mile.—This work
has been completed.
■
Interbay, Ballard (Suburbs of Seattle), Change of Line and
Grade.—The work of grading and track-laying is in progress.
The foundation for the piers of the bascule bridge across
Salmon Bay Waterway has been completed.
Lake Union Line, Seattle.—This spur and the Terry Ave¬
nue
extension of same
have both been completed.
The
actual length of track constructed on the Lake Union Line
is 2.38 miles and the extension is 0.53 mile long.
.
Grade Revisions and Changes of Line North of Seattle.—
For the purpose of improving the line north of Seattle, grade
revisions and changes of line have been authorized, and un¬
dertaken, at and near the crossing of Pilchuck River, at
and near Thornwood Hill, Sedro Woolley to Wickersham and
around McMurray Lake, and McMurray to Montborne;
grade revisions being on the basis of a 0.6 per cent grade
southbound and 1.0 per cent, northbound, Snohomish to
Sumas; also a connecting line between Edgecomb and Kruse's
Spur on the Great Northern Railway, a "distance of 3.8 miles,
to enable the use of the Great Northern Line between the latter
Weston to
.
.
previous annual reports, in one of which cases your com¬
pany was a party, and which have been pending in theFederal
Courts since 1907, were decided by the Supreme Court.
While declining to enjoin the State rates, in their application
to your company, and to the other large companies operating
railways in Minnesota, the Supreme Court in the clearest
way upheld the contention of the companies that their rail¬
ways are entitled to the same protection by the Constitution
of the United States
from legislative action preventing
them from earning a fair return upon a fair valuation of their
in
of the right of the companies to litigate the question of
the validity of the State rates, but expressly reserved to the
companies the right to bring fresh suits, and make additional
proofs upon the subject, in their discretion.
While technic¬
ally the large companies were losers in these suits,1 the clear
recognition by the courts of the rights of the owners of rail¬
ways will undoubtedly have valuable influence in deterring
future action by public authorities reducing the revenues of
pose
properties below what would be a fair and reasonable
their valuation.
At a recent session Congress has directed the making by
the Inter-State Commerce Commission of a valuation of all
the inter-State Railways of the United States.
This work,
if accurately and fairly done, as undoubtedly it will be, lust
prove of great value to the railways, as it will for the first
time definitely establish the chief basis for determining what
would be a fair return upon the property which the owner
has the constitutional right to earn.,
The railways of the country, including your company, are
such
return upon
.
freely co-operating with the Inter-State Commerce Commis¬
sion, in order to facilitate as much as possible the work, and
to secure correct and reliable valuations.
For your com¬
the task in this connection will be relatively small; as
preparation of the evidence in the Minnesota Rate Cases,
and since, all material data regarding the physical valua¬
tion of your properties have already been collected and re¬
duced to inventory form.
It is planned to hereafter make
the property valuations a part of the permanent records of
pany
in
your
company.
By order of the Board of
>,
1
A7,.7; - 777
.7-
<
_
•
and 63
>
7,374,988 22
1.7,360,000 00
750,000 00
3,453,517 82
——....
'-."7,
$77,610,832 27
7;
'■/7"
'
V..'"'
'77- •'
/'777'.
7 "
Cr.
'
7»■
.
Freight.
Passenger
Other. J.
4,597,417 03
<:
...
$72,676,138 72
Operations:
Sleeping cars.
.
Restaurants
yards
201 75
"
Income..'.
....—*
PEOFIT
25,267 47,
°
deposits.
2,052,415 34
— ____
"•
AND
315,288 14
...—.
■
On securities owned and interest on
2,232,902 32
—
...
Dividends and Interest:
7
308,820 28
—
Equipment
Miscellaneous
7:777777
112,066 86
—
Received
Hire of
'
^
135,JM! 50
;
—_—.——
.
Rentals
„
44,655 98
...
Dining and cafe cars (deficit)
Stock
„
$287,118 19
Parlor and observation cars....
$77,610,832 27
'
LOSS. ACCOUNT
30
JUNE
1913.
To
Settlement of judgment arising out of
Coeur d'Alene Railway in 1887
$306,844 83
securities sold
the construction of the
109,426 18
Property abandoned, chargeable to Profit and
Balance of sundry accounts.
Balance
73,845 01
Loss
10,151 81
83,699,770 45
.....
$84,200,038 28
By
Balance to credit June 30th 1912 as per annual report
$80,260,438
Balance of Income for year ending June 30 1913, brought
73,974,115
Adjustment of accounts in connection with
Midland Railway of Manitoba
Profit in sale of operating property
were
construction of
Unclaimed wages—3 years old
amended, creating the office of Chairman.
The changes in the Company's official organization, con¬
07
3,453,517 82
down.
meeting which accepted Mr. Elliott's resig¬
sequent upon Mr. Elliott's retirement, and the creation of
the office of Chairman, are indicated in the list of officers
at the head of this Teport.
•
_
..$52,270,685 94
15,808,035 75
-
-
Outside
23,218,800
7,137,378
By-Laws
•
■
Operating Revenue
Increase.
nation from the Presidency, the Company's
..
„„
.
-
'
2,401.51
$30,356,178
9,725,655
.
3,999,028 08
$6,837,685 00
512,861 00
24,442 22
debt
roads and terminals—-.
Discount and commission on treasury
48,672,326
28,938,506
83,699,770
23
^
Appropriation to cover Sundry Claims
Balance carried to Profit and Loss
'■
?.
43^^
;
■
•
•
$3,825,044 92
173,983 16
-—
•
Nos. 60, 61, 62
following figures show, in a comprehensive way, the
important growth of your properties, and of their business,
during Mr. Elliott's administration:
25,453,526
21,801,128
;./7:
i
Dividends:
The
"
,
94
74
81
1.073.392
Other rentals
affectionate regard."
same
..$10,188,053
8,532,671
1,309,800
23,569,379
corporation tax
Interest on funded
resig¬
1913.
,7Cv
;■
——
*n"
Rentals of leased
*;:
•
Interest and Rentals:
the Board de¬
of the ability
and devotion which have marked his long and successful
administration of the Company's affairs, and its wishes for
his success in every future undertakings His associates in
the Board of Directors experience the deepest regret at the
severance of a relation in which he has deservedly won their
9,476 44
$77,610,832
;"
7
State and County
U. S. Government
nation from the Presidency of the Company,
sires to express-to him its great appreciation
1903.
r;
,7V'; :7'<V".
expenses
faxes'
.
At the
' 7; • JDr.V
'
■;
Transportation expenses—
General expenses.——
properties.
In accepting Mr. Elliott's resignation your
Board adopted and placed on record the following resolution,
expressing appreciation of Mr. Elliott's services and regret
at his departure.
Operating Expenses and Taxes
Surplus Income
surplus.
,7
and structures
Maintenance of equipment
:
By
7,074.93
$47,254,654
FISCAL YEAR ENDING
Maintenance of way
Howard Elliott,
President of the Company since 1903, retired from the com¬
pany's service to become official head of New York New
Haven & Hartford Railroad and associated and controlled
Accumulated
'.
"',7'.-
Traffic
•
JUNE 30 1913.
To
After the close of the business year, Mr.
Income
■
Operating Expenses:
•
Gross
W. P. CLOUGH,
'.
Chairman.
President.
,
INCOME ACCOUNT FOR THE
GENERAL.
Miles of track owned
Directors,
IANNAFORD,
JULE M.
on
"Resolved, That in accepting Mr. Howard Elliott's
dis¬
The judgments of the Court did not finally
entitled.
the existing Northern Pacific line between
Snohomish and Edgecomb. Work on the various line changes
and grade revisions is in progress, and it is expected to have
the grading completed this fall.
;;■/
admittedly
to which other private property is
properties
point and Delta, where a connection will be made with the
Everett Branch of the Northern Pacific, thus avoiding the
heavy grades
the Minnesota Rate Cases, mentioned
In June of this year
this bridge, abandoning its present crossing
of the river and a part
1039
CHRONICLE
THE
Qot. 11 1913.]
__
-
402,841 10
54,910 46
28,330 83
"
7
By
;
'
$84,200,038 28
7'
Balance to credit of Profit and Lass, as per balance sheet.
_.$83,699,770 45
1040
THE
CHRONICLE
[Vol.
xctii.
NORTHERN PACIFIC RAILWAY COMPANY GENERAL
BALANCE SHEET JUNE 30 1913.
ROAD AND EQUIPMENT
(Northern Pacific Estate):
Cost to June 30
CAPITAL
1907—Road, lands, &c_$318,333,961 80
Equipment
37,295,670 07
STOCK—Common
MORTGAGE,
Collateral
$355,629,631 87
Cost since June 30 1907- -Road
(less Land
Department
net proceeds) $53,219,712 15
Equipment
19,075,528 57
Land
Depart•
.
Trust
Bonds
$215,227,000 00
---------
;
Less, Great Northern Ry.
Co.'s
'
'
::;f; <■'"
.
Northern joint), total
issue
*
SECMEDMBT:
$192,352,500 00
(North'nPacific-Great
.
$248 000 000 Of
_.
BONDED AND
Mortgage Bonds.
proportion
i ;
.
;
,,
'
107,613,500 00
•
•
.
v
—
107,613,500 0®
ment current
*
—
assets
5,691,525 51
__
299,966,000 f •
$77,986,766 23
v-:
'
$433,616,398 10
12,163,011 93
Less reserved for accrued
depreciation
$421,453,386 17
SECURITIES:
Securities of proprietary, affiliated and
controlled companies—pledged, viz.:
This Company's one-half of
$107,613,500
stock of
Chicago Burlington & Quincy
RR. Co. to secure
$215,227,000 joint
bonds made and issued
by this Com¬
pany and the Great
Northerfx Company
to pay for said stock, costing
$109,114,809 76
Securities of proprietary, affiliated and
controlled companies—unplodged
47,757,255 94
156,872,065 70
OTHER INVESTMENTS:
Advances to proprietary,
affiliated and
controlled companies for construction,
equipment and betterments
$22,642,066 55
Miscellaneous
investments,
physical
property
1,755,183 62
*
-
Total Capital Liabilities
24,397,250 17
......$602,722,702 04
Traffic and
WORKING ASSETS:
Cash
issued
assumed—held
in
treasury
:
Marketable securities (other than those
issued or assumed)
Loans and bills receivable
Traffic and
other
car
13,560,500 00
$1,249,439 69
8,518,719 11
80,552 09
1,183,703 25
Other working liabilities
12,065,079 54
4,516,323 90
_
1,057,967
968,420
4,314,709
9,584,221
__
Net bal. due from agents and conductors.
Miscellaneous accounts receivable
Material and Supplies
ACCRUED INCOME NOT DUE:
Unmatured interest, dividends and rents.
DEFERRED DEBIT ITEMS:
7.014,953 70
DEFERRED CREDIT ITEMS:
16—49,525,194 76
Other deferred credit items
APPROPRIATED SURPLUS:
2,237,285 06
4
Invested in other reserve funds (Insur¬
ance Fund)...
Reserve for payment of sundry claims.
.
207,957 93
:,
5,651,777 78— 6,403,737 19
;
$4,845,576 69
2,169,377 01
Taxes accrued (partly
estimated)
95
20
$74,128 10
469,873 38
Cash and securities in Insurance Fund..
11,492,032 32
4
Unmatured interest, dividends and rents
payable
54
160,185 32
Advances and working funds.*
Special deposits (with trustees of mtges.)
Cash and securities in
sinking and re¬
demption funds.
459,618 18
ACCRUED LIABILITIES NOT DUE:
service balances due from
companies
,
Audited vouchers and wages
unpaid
Miscellaneous accounts payable
Matured interest, dividends and rents...
$3,457,972 47
or
'
service balances due other
car
companies
;
Securities
$547,966,000 00
WORKING LIABILITIES:
Total Capital Assets
PROFIT
AND
$5,651,777 78
750,000 00
_
6,404,777 78
83,699,770 45
LOSS
$658,811,819 31
$658,811,819 31
PASSENGER AND FREIGHT STATISTICS.
1911-1912.
Miles,
Tons, &c.
Average mileage for the
Passenger Traffic—
year..
Passenger
revenue._
.
.
6,259.85
234.76
one
mile..
$1 77
.02362
..
...
127,725 26
592,008 96
".04
$16" 78
3,829, 52 21,
1,180,987,156 23.
3.4
$2 46
.00839
$7,439 38
$62,713,183 69
10,408 67
$2 95
$8,528
$71,870,980
11,481
$3
TRAIN
AND
CAR MILEAGE
1 18
-
1911-1912.
...
—
...
1
....
Mileage of passenger-train cars
Average number of passenger-train cars in train
Average number of passengers in train
Average number of passengers in each car
Mileage of loaded freight cars
Mileage of empty freight cars
Mileage of caboose cars
Total mileage of revenue
freight cars
Special service car mileage—freight
Special service car mileage—passenger
Total special service car
mileage
1912-1913.
__
""
in train
Average number of empty freight cars in train
Average number of freight cars in train (exclusive of
cabooses)
Percentage of empty cars to total cars in train (exclusive of
cabooses).
Average number of tons revenue freight in train.
Average number of tons of freight in each loaded car.
Company freights—tons carried
Company freight—tons carried one mile
Tons per train—company and commercial
Tons^ per loaded car—company and commercial.
*
11,355,464
614.302
5.41%
597,324
9,296,541
1,122,781
11.35%
21,056
21,270,385
1,318,381
72,641,280
11,508,781
619,328
5.38%
712,052
10,794,507
1,369,133
12.68%
14,524
23,029,864
1,496,400
74,740,345
Per Cent.
153,317
5,026
1.35
114" 728
19.21
1,497,966
Decrease.
16.11
.82
""
.246,352
*
.03%
21.94
1.33%
31.02
T,759",479
6,532
8.27
178,019
2,099,065
13.50
2.89
6.08
54.34
14.02
...
cars
1
Miles, Tons, Etc.
Increase.
Mileage of revenue passenger trains
;
Mileage of locomotives employed in "helping" passenger trains
Percentage of "helping" to revenue train mileage
Mileage of revenue mixed trains
Mileage of revenue freight trains
^
Mileage of locomotives employed in "helping" mixed and
freight trains.
Percentage of "helping" to revenue train mileage
Mileage of revenue special trains
.02
STATISTICS.
Miles, Tons, Etc.
Non-revenue service car mileage
Average number of loaded freight
.05
.00028
76
$1,089 38 14,
59 $9,157,796 90 14
27
1,072 60 10
12
.17
5
194
.15
8,
1 16
i
....
Total revenue train
mileage.
Mileage of non-revenue trains
1
3.
1 79
...
...
_
1.
$52,270,685 94 $8,477,164 36 19.
1,118,042 04
88,623 58
8.
53,388,727 98
8,565,787 94 19.
$2 51
.00867
....
"
.00028
*,92.8
$43,793,521 58
1,029,418 46
44,822,940 04
...
$464,'28370
$2,95,2 51
21,285,527
6,232,168,637
289.4
-
...
$2,969 29
17,455,975
,,
Revenue per train mile
$1 73
.02390
•
5,051,181,481
Average distance haul of one ton.
Freight revenue.
;
Other freight train revenue
Total freight train revenue.
Average receipts from each ton of freight
Average receipts per ton per mile revenue freight
Freight train revenue per mile of road (average
mileage):
Revenue from freight and passenger trains
Revenue per mile of road (average
mileage).
Expenses per traLk mile
Net traffic revenue
per train mile
$15,808,035 75
2,674,216 86
18,482,252 61
;
2.4
•
$15,343,752 05
2,546,491 60
17,890,243 65
.....
Average rate per passenger per mile.—
Passenger tram revenue per mile of road (average
mileage)...
Freight Traffic—
Number of tons of revenue freight carried-
Per
De¬
Cent. crease.
451,512
12,009,214
75.0
...
freight carried
Increase.
9,113.157
661,517,397
72.6
*
Other passenger train revenue
revenue
Amount,
Rate, (fee.
6,025.09
"
...
Total passenger train revenue
Average amount paid by each passenger
Number of tons of
Miles,
Tons, &c.
8,661,645
649,508,183
...
.
Number of passengers carried.
Number of passengers carried one mile
Average miles traveled by each passenger
1912-1913.'
Amount,
Rate, <fee.
54.13
.39
.21
13.92
.10
266,588,712
77,140,586
9,240,248
352,969,546
261,728
98,701
360,429
6,411,428
315,638,562
110,583,636
11,014,006
437,236,204
213,580
66,761
280,341
8,231,020
.71
18.40
43.35
19.20
23.87
18.40
32.36
22.22
28.38
1.82
23.21
6.62
6.12
.04
49,049,850
33,443,050
1,773,758
84,266,658
1,819,592
26.94
7.80
27.43
9.61
1.81
^34.74
37.04
2.30
^22.45%
510.54
18.95
25.95%
.49
.66
3.50%
541.62
19.74
31.08
.79
6.09
5,091,889
1,098,796,318
637.11
874,316
275,153,049
20.73
33.41
43.33
1.19
5.40
,
4,17
"
4,217,573
823,643,269
593.78
22.04
23.23
7.30
48.148
31,940
80,088
Oot.
RAILWAY COMPANY
CHICAGO ROCK ISLAND & PACIFIC
FISCAL YEAR ENDED JUNE 30 1913.
THIRTY-THIRD ANNUAL REPORT—FOR THE
To the
the advantage of interchanging
trunk-line systems at the above
points.
♦'
'"-i
+
Construction of the Malvern & Camden Railway (referred
to in last year's report), extending from Malvern, Arkansas,
to Camden, Arkansas, has been completed since the close of
the fiscal year under review and it was opened for operation
fiscal year
The results of the
(increase $6,652,-
Total operating revenue
081 74, or 10.3 per cent)
Operating expenses
..$71,364,935 06
(increase $5,744,608 13,
12.3 per cent)
or
----
—
.Net operating revenue
cent)
Tares (increase $153,122
1
,
October 1 1913. T
on
52,504,102 14
C;.:; GENERAL.
(increase $907,473 61, or 5.1 per
$18,860,832 92
2,946,437 54
-
50, or 5.5 per cent)
—
as
traffic with several other
of
Directors herewith submit their report
operations and affairs of the Rock Island Lines for the
ended June 30 1913.
'
•
operations for the year were as follows:
the
well
the East and West, as
Stockholders:
The Board of
1041
CHRONICLE
THE
111913.]
maintained by the Industrial Department show
that there were located along the lines of your Company
The records
ended 144 new industries, at an
of over four million dollars.
It is estimated that the operation of these industries will yield .
Total income
'.
-$16,944,190 37
employment to over twenty-five hundred men and result
Interest and rentals
12,885,835 53
in an annual movement of more than eighteen thousand
Balance of income, after providing for all charges, being
carloads of revenue freight.
Such industries will also pro¬
5.4 per cent on capital stock ($75,000,000 00)
$4,058,354 84
Dividends paid (5 per cent on capital stock)
3,743,525 00 duce a heavy volume of less than carload freight.
Industrial tracks were constructed to 77 private industries
.Balance, surplus for the year----—
$314,829 84
and 6 coal mines, necessitating the construction of 83 new
iFor comparative income account in detail,
see table
tracks during the period for which this report is rendered.
further below.
'
....
Additional track improvement was made in the way of re¬
arranging and extending tracks to fifteen industries.
CAPITAL STOCK.
An expenditure of $1,098,768 75 was made during the cur¬
No change occurred in the capital stock outstanding
rent fiscal year for the completion and erection of additional
during the year, it remaining the same as at the close of the and
improved
terminal
facilities.
In order that the Trinity & Brazos Valley Railway Com¬
previous fiscal year.
pany might meet its payments for additions and betterments,
\
FUNDED DEBT.
equipment and operating deficit during the current fiscal
The funded debt, not including equipment notes, com¬
year, your Company advanced one-half of the necessary
pared with the previous fiscal year, shows a net increase of
-$15,914,395 38
1,029,794 99
Operating income
Miscellaneous income
..
estimated cost for construction
....
—
——
during the fiscal year just
^
.
*
$3,480,000 00, while the net increase in equipment notes was
$3,146,000 00, resulting in a total net increase in the funded
debt of $6,626,000 00.
For an analysis of the above,
reference is made to a
following page.
r
ROAD AND
EQUIPMENT.
investment during
the year $9,537,861 86, which represents expenditures for
additions and betterments, as well as the acquisition of addi¬
tional equipment, including equipment purchased under car
Your
Company increased its property
agreements.
Details are exhibited
trust
.
;
.
on a
following
NEW LINES
V.';
page.
ACQUIRED.
During the past year your Company acquired all the out¬
standing stock of the Rock Island Stuttgart & Southern Rail¬
way Company, extending from Mesa, Arkansas, to Stutt¬
approximately twenty-two miles ^through a
well populated and prosperous agricultural community, rice
being the principal commodity produced.
The cost of this
new line, together with additional terminal property acquired
since its purchase, was $168,737 42.
The property is as yet
separately operated; therefore none of its mileage, revenues,
expenses or statistics are included in this report.
funds, aggregating $469,918 80.
equally owned by the Chicago Rock Island & Pacific Railway
Company, the St. Louis Iron Mountain & Southern Railway
and the St. Louis.Southwestern Railway Company, and when
it is in operation the transfer charges of this Company at
that point will be very materially reduced.
At the close of the year your Company was carrying on its
pension rolls 155 superannuated employees and the expenses
of the Pension Department during the year under review were
$54,762 24.
By order of the Board of Directors.
II. U. MUDGE, President.
October 6 1913.
ROCK ISLAND
LINES.
1913, COMPARED
.
Inc. (-f) or Dec.
*
1912-13.
-
-
mileage operated
Revenue' from transpor-
Aver,
8,048.07
-
.15
+12.23
8,035.84
•
.
'
$
$
46,428,045 31 41,156,834
19,777,430 86 18,609,408
1,611,311 99
1,602,209
Express........... 2,055,123 03
2,014,386
Miscellaneous
981,093 46'
873,417
Freight
Passenger
All the undelivered
(—).
PerC.
Amount.
1911-12.
'
tation:
Mail
train cars (4 of which are to be Express Horse
Cars), 2,050 freight train cars and 2 wrecking cranes.
Of the above equipment, 30 locomotives and 2 passenger
train cars have been delivered; the balance is to be deliv¬
ered during the ensuing fiscal year.
Of the 1,106 cars in passenger service on June 30th 1913,
276, or 25%, were of solid steel construction.' Of the total
passenger train cars, exclusive of Pullman equipment, run
in through main line trains, 51 per cent were of solid/steel
construction, and of the total mileage made by passenger
train cars, exclusive of Pullman equipment, during the year
covered by this report, 40 per cent was made by cars of solid
„
ACCOUNT YEAR ENDED JUNE 30
WITH PREVIOUS YEAR.
INCOME
NEW EQUIPMENT."
equipment to which attention was di¬
rected in the previous report was received and placed in
service during the present fiscal year.
During the current fiscal year your Company placed orders
for 87 locomotives, 30 of which are of the Pacific type, 25
of the Mikado type, 2 of the Mountain type and 30 for use in
switching service.
Orders were also placed for 72 steel
,/'
■
gart, Arkansas,
;;|-V
;
v
During the year under review the Arkansas & Memphis
Railway Bridge & Terminal Company was incorporated for
the purpose of building a double-track steel bridge across the
Mississippi River at Memphis, Tennessee.
Construction
is now under way, and this bridge when completed will be
-
—
Total transportation revenue...70,853,004 65
72 +5,271,210
36 +1,168,022
29
+9,102
03
+40,737
38
+107,676
59
50
12.81
6.28
.57
70
2.02
00
08
12.33
'
*
64,256,255 78
+6,596,748 87
10.27
456,597 54
+ 55,332 87
12.12
'
■
71,364,935 06 64,712,853 32
+6,652,081 74
10-28
Revenue from operations
other than transporta-
:
511,930 41
tion
Total operating
revenue
passenger
steel construction.
The details of the
Operating expenses:
•"
-
Maintenance of way
and structures._.
\
v
•
+1,391,978 00
16.39
+1,770,387 45
1,981,398 97
+17,739 23
21.32
.90
9,885.323 86
8,493,345 86
10,072,854 15
8,302,466 70
Mainten'ce of equip¬
ment.
Traffic expenses...,
Transportation
1,999,138 20
ex-
.
*
.28,772,587 34- 26,210.502 08 +2,562,085 26
General expenses... i;774,198 59
1,771,780 40
+2,418 19
penses
.
Total operating
9.78
.14
.
12.29
......52,504,102 14 46,759,494 01
+5,744,608 13
operating revenue.. 18,860.-832 92 17,953,359 31
Taxes
2,946,437 54
2,793,315 04
+907^73 61
5.05
+153,122 50 :
5.48
+754,351 11
4.98
expenses
Net
Operating income.....15,914,395 38 15,160,044
changes during the year appear on pages
39, 41 and 42 of pamphlet report.
•
Outside
27
operations
191,577 32
196,976 63
+5,399 31
2.74
990,827 67
1,915,048 94
+122,970 85
+174,180 19
12.41
Other income
867,856 82
2,089,229 13
Total
1,029,794 99
727,244 64
+302,550 35
41.60
Total
income..!....16,944,190 37
15,887,288 91
+1,056,901 46
6.65
11,066,032 36
1.819,803 17
10,492,134 63
1,544,758 36
+573,897 73
+275,044 81
5.47
17.81
Total charges....12,885,835 53
12,036,892 99
+848,942 54
7.05
Balance of income (available for dividends)... 4,058,354 84
Dividends __i
3,743,525 00
3,850,395 92
3,743,760 00
+207,958 92
—235 00
5.40
.01
<
(debit balance)...
of
equipment
(debit balance)...
Hire
CONSTRUCTION OF NEW LINES.
portion of the St. Paul & Kansas City Short Line
Railroad between Carlisle, Iowa, and Allerton, Iowa, re¬
ferred to in the two preceding reports as being under con¬
struction, was opened for local service July 2 1913.
Through
That
passenger
1913.
and freight-train service was inaugurated Sept.
This line connects with that of your Company
Iowa, for Kansas City,
14
Rentals
at Allerton,
Missouri, and points south and south¬
west, and at Manly, Iowa, for the so-called Twin Cities of
Minnesota and the Northwest.
The intermediate connec¬
tions with your Company at Des Moines, Iowa, and Iowa
Falls, Iowa, afford an excellent outlet for
Interest
traffic to and from
.
Balance,
.
surplus (carried to credit of profit and less.......
.
9.10
u
314,829 84
104,635 92
+208.193 92 195.24
1043
Dividend
Dividend
Dividend
Dividend
THE
Dividends Declared During
No. 129, 1)4 per cent,
paid
No. 130, 1)4 per cent, paid
No. 131, 1H per cent,
paid
No. 132, 1)4 per cent,
CHRONICLE
Year ended June 30 1913.
September 30 1912--—
"itj t.
xcvii.
Broughf'fdrward
LfCSSC
$935,881 25
December 31 1912
March 31 1913-——-- '
paid June 30 1913
(Vol.
T iAR<S
Ix>ss
935,881 25
935,881 25
935,881 25
i
k
An
on Oonnrifioa
securities
nv«/-1
$14,598,083
'
*/ x*
1aM4
and land
■
Aro
;
V
;
»'•
i
97
•,
An
sold-—$847,652
02
62,235 43
Miscellaneous adjustments, &c___
;•' +'
$909,887 45
Total,
per cent
—$3,743,525 00
—
Depreciation
PROFIT AND LOSS,
Credit balance, June 30 1912—
Surplus for year ended June 30 1913
Sundry adjustments not affecting current year's
income, &c—
Structures
—
mantled
121,869 92
$436,699 76
v;'-.'
or
stroyed-
1
■
,
re-
■
v
destroyed 11,447 14
Equipment sold, dis¬
$314,829 84
—
-$30,976 72
sold,
moved or
$14,598,083 97
—
—
————
on:
1 racks
removed
Vv;
de-
.■■■■.477,621 29
—
,
520,0431s
,429,932 60
Credit balance, June 30
1913—
•
-v-rock island lines.
CONDENSED GENERAL BALANCE SHEET JUNE 30
1913 AND
993,232 84
—$13,604,851 13
.
COMPARISON WITH LAST YEAR.
ASSETS.
Property Investment:
Road and Equipment—
1912.1
9
a>
Investm't to June 30 1907
255,585,343 24
Investment since June 30 »•
1907
41,148,338 63
road
p--vOtjjiv •"
+9,537,861 86
609,043 31
•*
•
Stock:
^
.
:
Funded
+
1913.
.+ ■"
and secured debt:
debt
•
.
issued
■
604,321 24
180,233 16
vouchers
340,000 00
+340,000 00
-.
+331,989 59
6,667,154 31
3,703,690 95
+2,963,463 36
231,343 50
—
sumed—pledged
Securities of proprietary,
affiliated and controlled
companies—unpledged.
917,345 51
292,048 29
—60,70» 79
and
Miscellaneous accounts
payable.-Matured
interest,
divi¬
+424,088 08
dends
6,348,208 52
7,044,138 42
Other investments:
Advances to proprietary,
r
affiliated and controlled
and rents
unpaid
2,254,945
Matured mortgage, bonded
and secured debt
unpaid
23,000
Working advances due to
other companies.."
241,052
Other working liabilities.
1,092,808
—695,929 90
-
2,235,041 25
00
23,000 00
32
88
190,6?0 30
1,002,748 53
+50,432 02
+90,060 35
11,759,639 36
8,364,494 83
3,395,044 53
2,410,289 92
1,313,030 07
2,425,223 42
1,317,869 45
■14,933 50
-4,839 38
3,723,319 99
3,743,092 87;
.
'
Total
ment
'f
Cash
316,296,227 36 305,155,441
\
5,120,466 84
dends and rents
payable
55 + 11,140,785 81
Taxes accrued.
issued
or
as-
15,073,939 94 —9,953,473 10
Total
•
.
557,458 23
15,946,140 08
484,567 43
Traffic and car^service bal¬
ances
due from other
companies
+4,476,000 00
—474,132 90
—282,054 95
•••
V.;
/
4
•
v'
,
ceivable
1,058,584 79
__
3,284,397 25
5,934,979 99
1,845,871 15
working assets— 41,061,843 77
Accrued income not due:
»
1,007,518 39
942,215 92
+255,748 71
2,767,134 01
1,949,734 31
+817,399 70
Grand total
—
liabilities.351,065,693
Appropriated surplus:
Additions
+307,078 54
+1,132,661 98
to property
June 30
income
+699,552 84
1907
since
through
Profit and loss:
44,838,192 68 —3,776,348 91
i.
-
Deferred debit Herds:
"Advances—„J
656,656 94
2,799,127 71
Balance
13.604,851 13
33,772 60
227,610 98
14,598,083 97
—993,232 84
+1,231,787 22
27,986 91
;
64,367 76
+256,807 40
4,030,914 93
—5,785 69
—122,736 25
—
—_
01+10,818,771 35
•
,
+561,650 99
-
;
913,464 34
,
36 340,246,922
64,367 76
Unmatured interest, divi¬
dends and rents receiv¬
able.
—19.772 88
•+
Total def. credit items.
+26,558 60
3,591,475 79
7,067,641 97
2,545,423 99
Materials and supplies.
Other working assets—.
,
1,569,169 38
1,197,964 63
+291,460 08
re
•
Other def. credit items.._
652,253 82
1,085,143 39
balance
due
from
agents and conductors.
Miscellaneous accounts
—
Deferred credit items:
Operating reserves
•'
943,713 90
—
Net
Total
—
accrued liabilities
not due—
sumed—held in treasury 5,033,458 23
Marketable securities—^ 15,472,007 18
Loans and bills receivable
202,512 48
00
Accrued liabilities not due:
Unmatured interest, divi¬
—52,306 82
.
.{
Securities
+1,733,331 58
invest¬
property
Working assets:
Total working liabilities
8,873,117 75
2,471,175 52
+19.9C&
25
_
companies for construetion,
equipment
and '
' •'
betterments
10,606,449 33
Miscellaneous investments 2,418,868 70
03
1,249,335 10
_
Audited
as¬
or
+6,626,000 00
326;189'600 00 +6.626,000
Traffic and car-service
balances due to other
cos.
+9,391,602 87
•+.+:'i+V;
wagesunpaid
companies—pledged—_
75,000,000 00
.257,815,600 00 251,189,600 00
__
—146,258 99
,
affiliated and controlled
Increase (+) or
Decrease (—).
1912.
75,000,000 00
.
and
equip¬
ment
-295,978,379 57 286,586,776 70
Securities:
i+'
;•
Securities of proprietary,
.Securities
o
.
Capital stock.
Mortgage, bonded
31,610,476 77
755,302 30
—
Total
,
'255,585,343 24
—
Reserved for accrued de¬
preciation—credit
LIABILITIES.
Increase (+)
Decrease (—).
Rents and insurance paid
in advance-J.--
■
.
Special deposits,
Other deferred debit items
2,299,600 21
1,198,571 28
Total deferred debit items
+1,101,028 93
6,463,376 78
4,259,082 57
+2,204,294 21
Grand total--
104,874 73
'364,734,912
25 354,909,373 74
+9,825,538,51
Grand total—
364,734,912 25 354,909,373 74 +9,825,538 51
Note.—In stating the assets and liabilities of
the companies
forming the Rock Island Lines, the holdings of The
Co. in the bonds and capital stock of
Chicago Rock Island & Pacific Rail¬
theauxihary lines, together with loansbetween the various
like reduction made in the assets
companies, havebeen eliminated from the
pertaining thereto; thefigures.>hown,
liabilities, and a
therefore, represent the book value of the assets and the
liabilities without duplication.
..
way
FINANCIAL
CHANGES
DURING YEAR
ENDED
JUNE
30
1913.
RESOURCES.
Cash on hand June 30 1912
Funded debt increased—see
page 20 of pamphlet report.
Securities of proprietary, affiliated and
controlled
companies—unpledged
Miscellaneous investments
(decrease)
$
6,626,000 00
695,929 90
52,306 82
—
"(decrease)
..
Changes in working, accrued and deferred
accounts,
Decrease
in
assets:
.
.
.
,
.
Marketable securities
Loans and bills receivable
Rents and insurance paid in advance
—
-
Special
-
—
—
j~ —-!
"I.
90
95
69
25
884,709 79
"
Traffic and car-service balances due to other
companies
accounts
payable
"
^
Matured interest, dividends and rents
unpaid
Working advances due to other companies
"
IIIII—I..
IIIIIII~~
—;
-
Other working liabilities
Unmatured interest, dividends and rents
payable
—
Operating
474,132
282,054
5,785
122,736
—
—
Increase in liabilities:
-
7,374,236 72
follows:
as
'
deposits.
Miscellaneous
5,07i,<
15,073.939 94
reserves
Other deferred credit items
Less—increase in assets:
331,989
2,963,463
19,904
50,432
-
59
36
00
02
90,060 35
15,792 09
561,650 99
255,748 71
.
.
Securities issued or assumed—held in
treasury
Traffic and car-service balances due from other
Net balance due from agents and conductors
Miscellaneous accounts receivable.
Materials and supplies._____
4,289,041 11
5,173,750 90
>
.
4,476,000 00
291,460 08
companies
,
26,558 60
—
»
Other working assets—
307,078 54
1,132,661 98
699,552
287,532
1,231,787
1,101,028
Unmatured interest, dividends and rents
receiavable..
Advances
Other deferred debit items..
84
99
22
93
9,553,661 18
Decrease in liabilities:
Miscellaneous accounts payable-
60,704 79
4,839 38
Taxes accrued
65,544 17
Total
to be accounted
APPLIED AS FOLLOWS:
1907 (increase)—additions and
Investments since June 30
ment, etc., as per details on a previous
page
Reserve for accrued depreciation—credit
Securities
9,619,205 35
4,445,454 45
for
of proprietary,
affiliated
and
Securities Issued or
assumed—pledged
Advances to proprietary, affiliated and
and betterments (increase)
Net debit to profit and loss
controlled
(increase)
betterments,
additional equip¬
companies—pledged (increase)
controlled companies for
"
construction,"equipment
,537,861 86
146,258 99
9,391,602 87
424,088 08
340,000 00
1,733,331 58
993,232 84
Balance, cash
on
hand June 30
2,928,782 27
18,002,722 21
1913
12,882,255 37
5,120,466 84
Oct.
.
f
«
THE
111913.]
shxv
CHRONICLE
'
.
=;;y.'";v;'i ROCK ISLAND LINES.
•
;
Balance, June 30 1912, as per
balance sheet,—
!.
'
Expenditures for additional and improved
equipment:
.
,
$190,743 40
-
_
dump cars
Converting dining cars 1646 and 1647 into parlor cars
Converting mail cars 1535 and 1544 into air-brake instruction cars
Converting 5 flat cars into bank levelers.,
New appliances for existing equipment, required by Federal and State laws
Miscellaneous and inspection charges in connection with purchase of business
Other new appliances for existing equipment
...
23,824 40
4,477 43
1,034 59
1,686 30
;
.r
82,685 39
425 00
27,807 69
---
steel car No. 1911
332,684 20
[page 18 pamphlet]
- - - - - - — ----— - - - - Disbursements for[construction of Malvern & Camden Railway (property of Rock Island Arkansas & Louisiana Railroad Co.)
Purchase of equipment to take the place of that destroyed which,under mortgages and equipment trust agreements, must
Total additions and betterments
be
replaced
purchase under indenture of July 1 1912
...
J
'iStf
miscellaneous adjustments covering equipment purchased under car trust agreements, prior
Bankers Trust Company of New York, equipment
Additions and betterments on leased lines
Net amount of
fiscal year
...
,
--"'v.-
t-Ji—•
...
_
473,520 60
. ..
'
.
.•••••••;
—--—
and profit and loss
;
actual cost, of the Chicago Rock Island
Amarillo Division bonds, such reduction being charged to
charged to operating expenses
16,240 01
■*
—-—---
$10,287,665 24
y;
V
...' .
past fiscal year (exclusive of equipment which,
be replaced).
Such value, less salvage, was
;
■
■ -..
•
$632,481 49
& Gulf Railway Company's
profit and loss
Reduction in book value, from par to
5,419,941 51
2,902 45
to the current
—
.
Deductions
Value of equipment destroyed, dismantled or sold during the
under mortgages or equipment trust agreements, must
first mortgage
$3,476,462 73
898,597 94
[
-
,_0
__
$3,143,778 53
pamphlet]
Purchase of 10 automatic air
,
>•'..v,;; •
,
ballast cars.
175
Purchase of
.'.V jn ; ■'.< 1 >;•,
Changes During the Year.
v
current year (not including equipment) [page 18
^
30 1913.:;;;
---$31,610,476 77
—
-------—
-
'*
Additions—
Additions and betterments,
YEAR ENDED JUNE
DURING
EQUIPMENT- -INVESTMENT SINCE JUNE 30 1907-OHANGES
AND
ROAD
749,803 38
117,321 89
9,537,861 86
Net increase
Balance June 30 1913, as per balance sheet
FUNDED
Funded debt, including, equipment notes,
Funded debt.
DEBT—CHANGES
$41,148,338 63
i—
—
...
_
JUNE 30 1913.
DURING YEAR ENDED
June 30 1912:
$237,556,000 00
13,633,000 00
Equipment notes..
$251,189,600 00
Total
This has been changed
Funded debt increased:
during the year as follows:
V
By the issue of The Chicago Rock Island
For
an
'
y
..
& Pacific Railway Company's first and refunding
mortgage gold bonds, viz.:
For additions and betterments (including
$2,500,000 00
equipment), 1913 fund
bonds, issued March 10 1913, for
gold bonds having been deposited
equal amount of general mortgage gold
additions and betterments, said general mortgage
with trustees of first and
1,000,000 00
refunding gold bond mortgage—;
For redemption of matured obligations:
The Chicago Rock Island & Pacific Railway
Company's gold bonds of 1902, Series J,
1,494,000 00
matured May 1 1912
"
i
-
■
-
.
.
.
■
•
-
.
y
^
-■
' ■
Less:
By the redemption of matured obligations as follows:
The Chicago Rock Island & Pacific Railway Company's gold bonds
May 1 1913
- —
Little Rock Bridge Company's bonds, matured June 1 1913_-r-
Equipment notes increased:
*
By the issue of The Chicago Rock Island &
per cent equipment gold notes, Series G
one-half
cent notes,
::V6""' 'v-.-y'
'
equipment four and one-half
October 15 1912.
1913
The Chicago Rock
and one-half per
October 1
The Chicago
—
—■--
$60,000 00
60,000 00
——
-
120,000 00
equipment, Series C, four
Island & Pacific Railway Company's
cent gold bonds, matured as follows:
1912
—w
—
—
—
Rock Island & Pacific Railway
and one-naif per cent gold
November 1 1912—.*
$265,000 00
265,000 00
530,000 00
Company's equipment, Series D, four
bonds,,matured as follows:
May 1 1913The Chicago Rock
650,000 00
Company's equipment, Series B, six per
'
• ;
,
1913
April 1
$325,000 00
325,000 00
*
—
Rock Island & Pacific Railway
matured as follows:
April 15
t.
Island & Pacific Railway Company's
450,000 00
equipment, Series E, five per
gold notes, matured as follows:.
$5,000 00
———
5,000 00
—
——
10,000 00
Series F, four and
The Chicago Rock Island & Pacific Railway Company's equipment,
and one-half per cent gold notes, matured as follows:
August 1 1912—
$12,000 00
12,000 00
:■
February 1 1913.
24,000 00
The Chicago Rock Island & Pacific Railway..
Company's equipment,
fc„
and one-half per cent gold notes, matured as follows:
..
...
.
$225,000 00
225,000 00
—
—
; July 1 1912
January 1 1913
f-
$3,480,000 00
$5 100,000 00
gold notes, matured as follows:
August 1 1912
February 1 1913
The Chicago
1,514,000 00
-
;■
cent
$1,494,000 00
20,000 00
—
By the redemption of matured obligations as follows:
The Chicago Rock Island & Pacific Railway Company's
per cent
■
of 1902, matured
Pacific Railway Company's four and
-Less:
•
$4,994,000 00
Series G, four and
170,000 00
$170,000 00
January 1 1913-...-..
$1,954,000 00
Net increase in equipment notes
"
v,
Net increase in funded and other
Funded debt, including equipment notes,
Funded debt
$3,146,000 00
*
$6,626,000 00
fixed interest-bearing debt--;—
June 30 1913:
$241,036,600 00
16,779,000 00
—
—-
-
Equipment notes
Total
$257,815,600 00
j.
CAPITAL STOCK AND FUNDED DEBT
OUTSTANDING AND AMOUNT OF EACH PER MILE OF ROAD
v
ENDED JUNE 30 1913.
-
OWNED FOR THE TEN YEARS
•
.
Funded
Indebtedness
June
30
iIncluding Equipment Trust Notes).
Capital Stock June 30.
Mileage
Amount
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
1913.
*
The figures
in these columns prior,to 1910 differ
term notes were omitted.
a
Operated
$75,000,000 00
75,000,000 00
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
*
Per
Outstanding.
6,460.31
6,486.73
6,619.04
6,986.18
7,074.09
7,085.69
7,157.40
7,159.81
7,196.67
aT, 196.47
Main line owned
Mile
on
Debt
00
00
00
00
00
00
00
00
35
07
95
48
Mile.
07
10,584 71
10,478 67
10,475 14
10,421 49
10,421 78
$148,535,000 00
169,857,000 00
179,337,000 00
195,196,000
196,110,541
201,525,000
228,002,000
230,162,000
251,189,600
257,815,600
June 30.
*Per
Amount
Outstanding.
Mile.
$11,609
11,562
11,330
10,735
10,602
00
00
00
00
00
00
00
v
$22,991
26,185
27,094
27,940
27,722
28,441
31,855
32,146
34,903
35,825
93
30
11
31
37
12
42
38
$1,039:67
59
28
1,516|45
1,148167
1,177|19
1,179)23
1,208169
l,219i26
1,369193
1.380U5
1,555^20
somewhat from these published in preceding reports, wherein equipment trust notes
.
mileage
Less leased lines and trackage
Charge per
est
Outstanding
Owned.
Year.
*Annual Inter¬
8,048 14
851.67 "
...
u
rights
—- —
.j.
7,196.47
and short-
1044
THE
CHRONICLE
[Vol.
xcvix.
rock island lines.
SECURITIES OWNED JUNE 30
1913.
T
IN
PROPERTY INVESTMENT.
Face Value.
Ry. Co_
Kankakee & Seneca Railroad Co..
Kansas City Rock Island
Ry.Co.($39,300 00
_
10,000
100,000
5,500
50,000
Railway Co
Co.
&
Memphis
Railway
Bridge
Terminal. Co
Atchison Union Depot & Railroad Co...
Denver Union Terminal Railway Co.
Iowa Transfer Railway Co
Joliet Union Depot Co
Kansas City Terminal Ry. Co.
1199003227658—-.
100,000
20,000
25,000
7,000
50,000
500,000
8,120
00
00
00
00
00
00
00
19
Dodge Railroad Co
Bridgeport Safety Emery Wheel
pledged)..
Rock Island Improvement
Co.—Equipment,
A__
B.
**
Miscellaneous:
225,000 00
280,000 00
340,000 00
.$13,918,851 96
15,472,007 18
$20,505,465 41
RECAPITULATION.
Included in property investment
$16,929,051 96
Included in working assets
21,057,296 71
—
—
.
—
..$37,986,348 67 $28,184,486 21
-
—
1908.
—
Operating
Revenue.
Operating
42
$31,774,893
31,058,209
35,067,058
40,812,822
42,136,179
42,513,495
14
05
28
88
95
94
29
26
53
44
97
41
04
32
48,069,368 91
49,055,683 00
46,759,494 01
06
52,504,102 14
$13,194,598 13
12,993,299 88
16,170,799
19,325,850
16,348,016
18,671,391
18,151,210
19,431,790
17,953,359
18,860,832
THE
84
91
54
03
69.48
72.05
04
.
31
"
92
TEN
7,338
7,622
8,232
8.533
8,053
8,867
72.59
,
71.63
72.26
73.57
YEARS
ENDED
OF
Net
$4,410
4,294
4,858
5,245
5,287
5,296
5,976
6,112
5.818
6,523
6,091 27
7,098 55
7,729 65
67.86
MILE
Operating
Expenses.
Revenue.
$6,241 31
68.44
PER
«
Operating
■
70.66
70.50
52
Total
.
EACH
Per Mile of Road.
.
penses to
OF
48
97
71
11
03
33
JUNE
30
Operating
Revenue.
03
$1,831 281
1,796 66
2,240 32
2,483 96
,2,05132
2,326 25
2,256 60
2,42108
2,234 16
2,343 52
61
23
69
16
72
11
03
,
87
81
1913.
Operating
Expenses and All
Other Deductions
■: from Income
Gross
Income.
:
1',
*
Other than
Total Net
-
Interest.
—
—
—
—
——-—
—
-
7,205.14
7,231 91
7.218.07
7,780.26
7,969 53
8,026.38
8,043.59
8,026.09
8,035 84
8,048 07
SUMMARY OF
$46,303,325 07
45,577,681
52,253,695
60,752,282
58,612,830
61,396,357
66,443s,810
68,672,950
65,440,097
.
03
31
06
33
84
76
10
96
72,394,730 05
REVENUE
$34,263,605 07
33,748,476 01
37,719,693 55
43,722,464 97
45,481,506 00
46,368,904 05
52,566,055 07
53,488,383 72
51,097,567 41
57,270,342 85
Interest on
Funded Debt,
Income..:
$12,039,720
11,829,205
14,534,001
17,029,817
13,131,324
15,027,453
13,877.755
15,184,566
14,342,530
15,124,387
00
02
76
09
33
79
69
38
55
20
Surplus
Applicable
Dividends.
Equipment
.
Notes and
Other Notes.
$6,011,521 68
7,096.095,85
7,748,169 72
8,279,300 02
8,413,221 92
\ 8,861,223.05
9,129,874 61
9,741,852 72
10,492,134 63
11,066,032 36
to
$6,028,198
4,733,109
6,785,832
8,750,517
4,718,102
6,166,230
4,747,881
5,442,713
3,850,395
4,058,354
.
32
17
04
07
41
74
Less
Balanc<
Dividends
Declared.
Income.
$5,985,060
4,676,622
4,677,552
4,116,728
3,929,785
3,930,018
08
3,743,272
66
3,930,948
3,743,760
3,743,525
92
84
00
00
.
$43,138 32
56,487 17
50
2,108,279154
00
00
75
00
00
00
00
4,633.,789
788,317
2,236,211
1,004,609
1,511,765
106,635
314,829
07
41
99
08
66
92
84
FREIGHT AND PASSENGER
TRAFFIC FOR TEN YEARS ENDED JUNE
30 1913.
REVENUE FREIGHT TRAFFIC.
.
Tons Carried.
Average
Mileage.
Operated.
Year.
Average
per
Ton.
Average Load in Tons.
Rate
Number.
Mileage.
Revenue.
Distance.
per
Per
Mile
Per Train
Mile.
Cents.
1904
-
—
1906
1907
-
—
-
—
1912
1913
■
7,969,53
Average
Mileage
Operated.
1904.
1908
1909
1910
of Op¬
erating Ex-*
Net
"
Operating
Expenses.
CONDENSED INCOME ACCOUNT FOR
1905——:—'
1906.
1905
7,78,0 26
8,026.09
8,035.84
8,048 07
Year.
1910
1911—-
Ratio
$44,969,491
44,051.509
51,237,858
60,138,673
58,484,196
61,184,886
66,220,578
68,487,473
64,712,853
71,364,935
8,026.38
8,043.59
—
1913—.
1907
REVENUE AND AMOUNT
TEN YEARS ENDED JUNE 30
1913.
■
Revenue.
$7,679,020 80
20,505,465 41
....
$7,292,529 76
OPERATED FOR THE
Operating
7,205.14.
7,231.91
7,218.07
249 00
'
Revenue.
-----
00
5,000 00
400,000 00
5,047,000 00
.
TOTAL OPERATING REVENUE, OPERATING
EXPENSES, NET OPERATING
1904.
00
00
$16,023,838 48
Total securities owned
Total
-
00
Total bonds and stocks in
working assets$21,057,296 71
1
—
Average
Mileage
Operated.
00
'
;
Year.
00
00
„
Total---.-.--
3,931,318 93
ROAD
1
00
■
Hurd, Burton D., Land Co
:
—
............
502,000
7,500,000
273,000
432,000
8,000
Omaha Auditotium Co
Tol. St. L. & W. RR.
Co.—gold 4%, Ser. A
Tol. St. L. & W. RR.
Co.—gold 4%, Ser. B
1,272,000 00
•
00
28 00
Consolidated Indiana Coal Co..
Crawford County Mining Co
re¬
—
Co
Iowa)—5%
Kansas City & Northwestern
Railway Co..
($2,700,000,
00
00
00
1,002,035 00
C. R. f. & P. RR. Co.
(of Iowa)— 4%
C. R. I. & P. RR. Co.
(of
3,000 00
54,000 00
00
00
651 48
Joseph Auditorium Co
Chicago & Alton Railroad Co.—pref
The Roclc Island
Co.—common
The Rock Island
Co.—preferred
1
325,000 00
100,000 00
00
800 00
Funded debt:
Railway Terminal Co. (first and
funding mortgage)
$5,033.458 2*
00
6,400
3.000
99,700
270,000
5,000
450,000
11,075
The
terminal, stock
—
—
Fort Worth Wagon
Factory
Kansas City Times
Newspaper Co
National Implement & Vehicle Show
Nebraska Central
Railway Co
Nebraska Construction Co..
2,820,413 03
—
$400
1,000
4,000
2,500
St.
>
.
$5,033,458 23
Des Moines & Fort
yards and coal companies:
—
>
American Automobile
Corporation
125,000 00
Atchison Union Depot & Railroad Co
Minnesota Transfer Railway Co
————
-
7,205.14
7,231.91
7,218.07
7,780.26
7,969.53
8,026.38
8,043.59
8,026.09
8,035.84
8,048.07
J
13,567,817
13,515,367
15,394,395
17,412,333
15,877,646
17,145,657
19,167,179
19,118,358
18,969,251
21,101,989
3,250,750,267
3,171,456,832
3,715,621,556
'
•
"
,
-
Cedar Rapids Auditorium Co
Central City Elevator Co...
Council Bluffs Auditorium Co
25,000 00
of indebtedness
:
580 73
Stocks:
12.000 00
Kankakee & Seneca Railroad Co
'
v
4,995,000 00
8,000 00
25,000 00
Total
103,600 00
205,800 00
3,000 00
Rock Island & Dardanelle
Railway Co
Trinity & Brazos Valley Railway Co.—cer¬
G_._
,
Included in marketable securities:
Funded debt—Railroads:
Total
$4,877 50
mortgage bond scrip...
300,000 00
44,000 00
2,000 00
-----
Series
Ry. Co.
Ry. Co.:
refunding mortgage bonds
Equipment notes, Series A
Equipment gold bonds, Series C
Choctaw & Memphis
Railroad Co.—first
200 00
6,800 00
25,000 00
Wichita Union Terminal Railway Co
Series
treasury:
•
Union Terminal Railway Co.,
Dallas, Tex__
Terminal Railway Co., St.
Joseph,
Mo. (pledged).
Peoria
386,491 04
Stocks:
Union
Series
$3,010,200 00
The Chicago Rock
Island & Pacific
Funded debt:
The Chicago Rock Island &
Pacific
First and
10,000 00
9,000 00
St. Louis Rock Island Terminal
Railway Co.
($11,300 00 pledged).....
St. Paul Union Depot Co
Terminal Railroad Association of St. Louis.
Rock Island Improvement Co.
00
*n
in
■
'
Funded debt—Union Depot,
00
00
00
00
00
Property investment
.....$16,929,051 96
$7,679,020 8$
*$3,000 00 owned jointly with The
Chicago & Alton Railroad Co.
&
Leavenworth Depot & Railroad Co
Minnesota Transfer Railway Co
Morris Terminal Railway Co
Peoria Railway Terminal Co
:
Pueblo Union Depot & Railroad Co
Rock Island-Frisco Terminal
Railway Co.
(pledged)
Rode Island Stuttgart & Southern
Ry. Co..
St. Joseph Union
Depot Co
tificates
-"'wo
00
00
IN WORKING ASSETS.
Included in securities issued or
assumed—held
Keokuk Union Depot Co
,
Book Value.
"f
00
12,500 00
240,000 00
13,100 00
J 36,000 00
Total...
($99,500 00
pledged}---
Co. (pledged)
Mining Co. (C.O.&G RR )
Joseph Stock Yards & Terminal Co
Railway Co. of Chicago..-.
Union Stock Yards
Co., Topeka, Kan.
Western Coal & Mining Co.
00
00
00
00
■
$50,000
2,400,600
100,000
50,000
25,000
60,000
10,000
13,000
10,000
Co
St.
Stocks—Union Depot, terminal, stock yards
and coal companies:
Arkansas
'I
The Belt
40,000 00
575,100 00
1,487,900 00
-
Keokuk & Des Moines Railway
Co.-—pref__
Keokuk & Des Moines Railway Co.—com__
Peoria & Bureau Valley Railroad Co
Rock Island & Dardanelle
Face Value.
■
.
Memphis Railroad Terminal Co.
Missouri & Illinois
Bridge & Belt RR. Co..
Rock Island Coal
$107,100 00
604,500 00
5,000 00
_
St. Paul & Des Moines Railroad Co
St. Paul & Kansas City Short Line RR.
.
Gulf Construction Co
Kansas Town & Land Co_
Stocks—Railroads:
pledged)
.
Crawford County
Mining Co
Gasconade Railway Construe.
Book Value.
pledged:
_
.
Mining Co
Consolidated Indiana Coal
Included in securities of
proprietary, affiliated
and controlled
companies—pledged and un¬
Oftlumet Western Railway Co___
Cedar Rapids Iowa Falls & Northw.
,
Included in miscellaneous
investments:
Stocks:
Coal Valley
4,281,228,365
4,019,704,681
4,160,828,170
4,567,089,384
4,718,460,846
4.599,242,133
5,203,973,087
$31,167,006
29,662,386
34,695.823
40,215,901
37,899,356
39,158,053
12
08
88
239.59
234.66
241.36
245.87
253.17,
41
36
16
42,218,880 84
43,368(395 66
41,156 .834 72
246.80
242.46
46,428,045 31
246.61
0.96
225.48
228.04
245.19
266.17
254.77
264.55
257.43
0.94
0.93
242.68
238.28
•'
r
0.94
0.94
0.94
0.92
0.92'
0.89
0.89
Loaded Car
Car Mile.
.
14.53
14.06
14.54
15.27
15.33
15.15
15.07
269.66
277.81
297.17
14.92
15.11
15.79
Per Loaded
and
Empty
Car Mildf
10.10
9.87
10.38
11.53
10.69
10.87
10.73
10.49
10.83
11.47
OCT.
1932
1904
1905
1906
1907
1908
111913.]
-
•:>THE
.
1015
CHRONICLE
LINES.
ROCK ISLAND
TRAFFIC.
REVENUE PASSENGER
-:.cYear*
■
7,205.14
7,231.91
7,218.07
7,780.26
7,969.53
8,026.38
8,043.59
8,026.09
8,035.84
8,048.07
-
—
..........
——-
—-
—
Rate per
Number.
Operated.
........
-.-
1909
———1910 —w..——*
—
1911
—
—
-
-
—
—
Avg. No. of Passengers
Average per Passenger.
Passengers Carried.
Average
Mileage
♦The figures in this column prior to 1910
computed without including mixed train miles.
'
Per Car
Mile.
Mile.
Distance.
$11,697,033 15
514,108,832
552,903,897
646,166,553
725,233,506
11,536,847
12,065,685
13,721,273
15,382,399
16,960,747
18,743,022'
20,137,409
19,842,167
18,927,146
19,412,671
*Per Train
Mile-Cents.
Revenue.
44.56
2.28
39.74
10.40
45.82
2.18
40.52
10.53
47.09
47.15
52.00
50.83
2.15 V
43.77
2.23
42.77
Mileage.
12,050,781
13,917,030
16,153,539
16,693,110
17,883,378
19,378,174
20,240,528
18,609,408
19,777,430
881,991,344
952,679,666
1,016,385,259
1,010,037,752
939,391,981
983,696,182
44
64
42
45
99
27
03
36
86
.
11.53
11.08
52.10
1.89
13.66
t.
■
55.34
54.31
54.91.
VVVf'. 1.91
: 50.90
;■ 49.63
2.00
50.67
2.01
1.98
14-14
49.21
50.38
1.88
50.47
differ slightly from those published in previous reports,
•
13.16
14.46
14.55
13.70
the figures in previous reports having bee®
THE PACIFIC COAST COMPANY
YEAR ENDING JUNE 30 1913.
EXTRACTS FROM THE REPORT FOR THE
PACIFIC COAST STEAMSHIP CO.
To the Stockholders—
submits the sixteenth annual report
the business of the Company and of its subisidary Com¬
The Board of Directors
of
panies for the fiscal year ending June 30 1913.
The loss of the steamship "Curacao" is reported by the
Vice-President and General Manager in his report annexed.
No loss of life attended the loss of this ship.
The loss of the steamship "State of California" has occurred
since his report was prepared.
.
The property loss is largely covered
'
by insurance, but there
can be no offset to the deplorable loss of life, with its attend¬
ant sorrows, through the sinking of the last-named ship.
In
the case, both of the "Curacao" and of the "State of Cali¬
fornia", as officially reported, the cause of the disaster was
an
uncharted rock where Government charts indicated
unobstructed depth of water.
Renewed and increased effort
greater attention of Government
on the Alaskan Coast.
will be made to secure
to the needs of navigation
compared with last year, the
and .its subsidiaries are as follows:
As
Earnings (Increase) —
Operating Expenses (Increase)
Net Earnings (Increase).
Gross
.
'
u
earnings of the Pacific Coast Steamship Company,
including Charter earnings of The Pacific Coast Company,
increased $41,245 09.
The net earnings of the Pacific Coast Coal Company, in¬
,
1
cluding lumber sales, increased $53,228 05.
The net earnings of the Columbia & Puget
The net
■
decreased $16,542 27.
•
Sound Railroad
$33,489 63.
earnings of the Pacific Coast Railway Company
increased
,
grain warehouses and Port San Luis
Wharf earnings decreased $1,318 60.
General expenses and taxes increased $14,501 19.
The improvement in general business conditions on the
Pacific Coast, anticipated in the last annual report, did not
continue during the year, but the Company's business showed
some
gain as detailed by the Vice-President and General
Manager in his report.
•
....
Rentals, dividends,
Henry W. Cannon resigned as President of the Com¬
(continuing as Chairman of the Board) in January last,
Mr. William M. Barnum was then elected President of
Mr,
pany
and
the Company.
!
•
■
'
■
During the year Mr. James N. Hill and Mr. Copley Amory
resigned as Directors of the Company and the vacancies in
the Board, caused by such resignations, were respectively
filled by the election of Mr. Robert M. Parker and Mr.
Clifford C. Fay.
<
-
WILLIAM M.. BARNUM,
October
1
1913.
•
.
.
AND GENERAL
.
MANAGER.
Seattle, August 29 1913.
improvement in business conditions that was notice¬
first few months of the fiscal year did not,
continue, and during the last six or eight months of the year
conditions were no better than for the year before.
Reduced output of British Columbia mines caused an in¬
creased demand for the product of the Pacific Coast Coal
The
able during the
Company's mines.
This increased the shipments over and
the Columbia & Puget Sound Railroad Com¬
pany.
The gross earnings of other companies decreased, as
compared with the previous year.
The increased cost of labor
and supplies increased the cost of coal mined by the Pacific
Coast Coal Co. and, as it was not practicable to make corres¬
the earnings of
ponding increases in selling prices, the profits were not as large
as would otherwise have been warranted by the increased sales.
At present writing business conditions on this coast are
practically the same as during the past year. [Lumber business
the principal industry around Puget Sound, is depressed, and
there has been a serious crop and fruit failure in California,
the effects of which will undoubtedly be felt in that State for
the greater portion of the present fiscal year.
With the new
steamer now built and the Briquetting Plant that has been
authorized, it is hoped the Company may, during the coming
year, hold its own with the year just, closed.
26,748 06
41,245 09
—
was expended for repairs to the fleet and charged
Operating Expenses, $428,830 96, as against $351,147 73
last year.
Ordinary repairs and renewals cost $245,591 95, and ex¬
traordinary repairs, $183,239 01.
There was also charged to Operating Expenses, account of
depreciation, $14,458 05, whereas nothing was charged to
this account during the previous year.
On the morning of June 21 1913 the steamship "Curacao",
while on a voyage to Southeastern Alaska ports, struck an
uncharted rock in Tonowek Bay, on the West coast
of
Prince of Wales Island.
The vessel, being badly damaged,
was* beached and became a total loss.
No lives lost.
Book
value, $200,000; insurance, $153,500.
Deductions were made from Property Account as follows:
"Duncan"-^
Reduction book value, furniture and fixtures
Sale interest in lots 1 and 2, block 56, Morena addition, San
Bryan's addition', Oceanside
Sale ten acres, Gaviota.-Sale portions blocks 4 and
Board—
Diego
—
_
$4,500
15,582
184
1,879
250
00
72
13
00
00
5, San Pedro, condemned by Park
—
—
Total deductions from property
22,389 00
$44,784 85
-
COLUMBIA & PUGET SOUND RAILROAD COMPANY.
Earnings (Increase)
Operating Expenses (Increase)
Net Earnings (Increase)
$81,289 14
47,799 51
33,489 63
Gross
-_
-
was charged to Operating Expenses and written off
depreciation of equipment, $27,998 88, shop machin¬
ery
and tools,
$3,217 80, buildings $1,159 20.
Total,
$32,375 88, as against $32,291 87 last year.
Operating Expenses were increased, to a considerable ex¬
tent, during the year
on account of additional brakemen
carried on most of the Company's trains, in compliance with a
"Full Crew" law, recently enacted by the State of Washing¬
There
to
cover
ton.
•
COAST RAILWAY COMPANY.
PACIFIC
Gross
Earnings (Decrease).
Operating Expenses (Decrease)--..
Net Earnings (Decrease)
_
—
$21,229 54
4,687 27
16,542 27
charged to Operating Expenses and written off
depreciation of equipment and power transmission,
$10,436 26, as against $10,281 63 last year.
The grain and bean crops this year are almost entire
failures.
Sugar beet crop is good.
There
to
was
cover
PACIFIC COAST COAL COMPANY.
COAL
DEPARTMENT.
:
-I
Gross Earnings (Increase)
!
Operating Expenses (Increase)
Net Earnings (Increase)
"
*
-
...
$397,898 78
324,000 04
73,898 74
The total output of the mines.during the year was 816,604
tons, which includes 10,630 tons from mines under develop¬
-
REPORT OF VICE-PRES.
I
President.
—
There
to
Sale lots 1 to 16, block 37,
—.--$449,019 11
353,418 40
— —
95,600 71
— _—
The net
Company
Earnings
Reduction book value, barge
earnings of the Company
$14,497 03
(Increase)—l___
Operating Expenses (Decrease)
Net Earnings (Increase)
Gross
ment, an increase of 107,3,42 tons, as
compared with previous
•; ;■ - /:•/.,.
The amount of coal sold at all depots was as
year.
•
follows:
From
Company's mines, tons___
coal, tons
Foreign coal, tons..
Other domestic
:
'
i
—.
784,571
45,234
26,695
—
———'
Total tons.
-—-856,500
increase of 104,465 tons over last year.
handled decreased 41,921 tons,
it being the policy of the Company to restrict its purchases of
foreign coal as much as practicable.
"Other domestic coal"
sold increased 33,105 tons; the Company's mines at times
being unable to produce sufficieut coal to meet the require¬
ments of the Sales Department.
—ap
The amount of foreign coal
LUMBER DEPARTMENT.
1
Gross
Earnings (Decrease).
Operating Expenses (Decrease)
Net Earnings (Decrease)
Decrease of sales
-
$30,389 45
9,718 76
20,670 69
principally due to decrease of develop¬
fields.
The oil output being some¬
what in excess of consumption, development work decreased.
Operating Expenses on rented property increased about
$10,000 on account of renewing piling under Piers "A", "B"
and "C", at Seattle.
'
'
ment
work
in
the
was
oil
,
,
.
[Comparative income account and balance sheet are given on
preceding
page
under
Annual
Reports.]
1046
THE
THE
CHRONICLE
KANSAS CITY SOUTHERN
:
[Vol.
xcvn.
RAILWAY COMPANY
THIRTEENTH ANNUAL REPORT—FOR THE FISCAL YEAR
ENDED JUNE 30 1913.
Kansas
To the Stockholders
Yard, Terminal and Side Tracks:
North of Belt
Junction, Mo., and in and
around Kansas
City
82.07 miles
All other
Yard, Terminal and Side Tracks..336.51
"
City, Mo., September 15 1913.
of the Kansas City Southern Railway Co.:
The thirteenth annual report of the affairs of
your Com¬
being for the
pany,
year
Track:
'
•
Between Second and Wyandotte
Streets, Kan¬
sas City,
vyji/y, ivxu., auu iiar Line Junction. Mo..
Mo., and Air ijine junction. ivio—
Between DeQueen, Ark., and Neal
presented.MILES
OF
RAILROAD.
was
on
June 30 1913
11.99miles
765.14
"
0
777.13 miles
__
Branches*
Fort Smith, Ark
16.44 miles
2.80
"
Bonanza Mine
8.45
.T_
14; 02
to
Lockport, La
"
"
4.03
to Lake Charles, La.
22.59
45.86
.
"
Owned
'.A,:;/
BY
Missouri
Second
1:
Yard
Branches.
Operated
Operated
18.38
Trackage
Rights.
Yard Track.
112.29
•
Under
Lease—
Track
';";\x
59.14
8.45
4.20
-83
15.04
13.34
26.62
80.43
219.64
88.13
55.50
81.08
777.13
—
14.02
;
During the past fiscal year the total track mile age of the
System was increased from 1,262.90 to 1,272.67, making a
net addition of 9.77
miles, which consists of the following
items:
45.86
.
The
418.58
'
;
3.74
•
Passenger
Freight
•
.
20.30 miles
^
-
20.26 miles
j
-'
;
Decrease in Main Line of St. Louis & San
Fran-,
cisco Railroad Co. between Belt
Junction, Mo.,
and Grandview, Mo., used Under
U nder
Equipt.
Trusts.
Passenger Equipt.
33
_
Coaches
115
Switching
remeasure-
Furniture
Tank
Total
Coal
Flat
Branch
———
3.40
Grand
6.20 miles
Lockport Branch:
1
1
Operated by the Edgewood Land & Logging Co. under lease:
Main
v
Branch—
1
1.07
at
5.10
Therefore
during the
the total mileage operated by
your
year was:
■
Main Line—
—...
Branches
—
—
Company
Miles.
788.14
788.14
39.03
827.17
14.02
1,261.37
During the past fiscal year the total operated track
mileage
increased from 1,251.37 to 1,261.37,
making a net additipn
of 10 miles, which consists of the
following items:
.
Net
:
increase
due
to
reconstruction
of
various
stretches of main line in reducing grades
.04 miles
Net additions to
Operated Yard, Terminal and Side
Tracks on
portions of line outside of Kansas City. 12.35 "
Total Additions
Deductions
Decrease
and around
measurement
[
t
t
of
Kansas City, due to
tracks
and
abandonment
—
5,815
Total
1,000
Total—
.
43
;
.
to
»
.
this railroad property,
its rights of way,
estate, building, equipment, appurtenances,L &c., the
Company on June 30 1913 controlled, by virtue of its owner¬
ship of securities, all the property of the following corpora¬
tions, viz.:
-V
/
-->
standard-gauge line from Heavener, Oklahoma, to
Waldron, Arkansas, 32.33 miles, together with rights of way,
bhildings, appurtenances, &c.; controlled by your Company
through ownership of all the capital stock and bonds.
THE POTEAU VALLEY RAILROAD COMPANY.
Shady Point,' Oklahoma, to
Sutter, Oklahoma, 6.59 miles, together with rights of way,
buildings, appurtenances, &e.; controlled by your Company
through ownership of all the capital stock.
This property was acquired by purchase January 14 1913.
KANSAS
CITY
SHREVEPORT
&
GULF
TERMINAL
CO.
Union depot property at Shreveport, Louisiana, including
its real estate, buildings and 1.16 mile of yard and terminal
the
of
,,
A standard-gauge line from
track; controlled by
re¬
tracks to Argentine, Kan., not used since the
flood of 1903
2.28 miles
Decrease in main line between Grandview, Mo.,
and Belt Junction, Mo., due to
remeasurement
—
968
*101
real
THE
12.39 miles
:
in
....
THE ARKANSAS WESTERN RAILWAY COMPANY.
420.18
Mileage Operated
Additions
98
A
Yard, Terminal and Side Tracks
k
-i—
and
Includes 19 Box Car Cabooses.
Miles.
Second Track
Total
185
;
Coal
In addition
•
•
....
....
June 30.
*
"
Total not operated by The Kansas City Southern
Ry. Co. 11.30 miles
—.
2
Does not include 5 Switching Locomotives and 300 Freight-train
Cars,
contracted for under Equipment Agreement, Series "D", but undelivered
4.03 miles
j
Sidings...,
"
..
77
;
,
...
1,000
305
Cabooses
2.80 miles
—
Lidgerwoods
301
......
Ballast
Levelers.
Pile Drivers
1,000
500
4,847
Total
Operated by the Central Coal & Coke Co. under contract:
Ditchers
Service:
—
ConvertibleBallast
Bonanza Coal Mine Spur:
Steanu/Shovels
Slope
191
923
1
Water
9.77 miles
Sidings
_i.
i__
In Work
Box Cars
.35
mileage, the following was no t operated
Company during the year ended June 30 1913:
Main
—
Vinegar Tank
Of the total System
your
.........
Flat
....
Equi
165
...
Coal..
.09
Deductions..
Work
327
Stock
remeasurement
track
2
18
Outfit
"Coaphes
Derrick
:
2,740
.02 miles
.22
25
3
Mail—...
Total
15
Equipment—
In Commercial Service
Box Cars..
Net Increase in System Mileage.
by
181
Freight
DeQueen, Ark.,
23
Excursion
Total
•
.....
Office and Pay C
.
Mine Spur
Trusts
Baggage
Baggage, Coach & Mail
Express and Mail
.02
to
Coal
Owned
Chair Cars..
Coach and Baggage.._
15
33
Coach and
■
,
contract, due
1.
ment of track
Total
controlled
Acquired
.110.12 miles
;
—
Deductions:
Springs, Ark., due to
otherwise
Under
Owned
Net additions to operated Yard, Terminal and Side
Tracks
10.07 miles
Increase in Bonanza Coal Mine
Spur due to remeasurement
of track
.01
"
and Neal
or
Equipt.
Locomotives—
.04 miles
due to remeasurement of tracks
Decrease in Second Track between
1,272.67
,
Oklahoma, Texas and Louisiana:
Length of reconstructed line
Length of original line abandoned
Decrease in sidings on Bonanza
,13.34
Lcquired
\>
increase due
to
reconstruction
of various
stretches of main line in
Missouri, Arkansas,
to remeasurement of track...
Decrease in Lockport Branch due
136.58
June 30 1913 consisted of:
on
Net
Total Additions
337.21
EQUIPMENT.
..
Rolling Equipment owned
1
Additions:
192.13
.
,
■
—
.
_
306.68
2.91
49.45
222.46
_
...
Total.
54.07
127.64
;
Total
"
1,272.67 miles
and Sidings.
5.57
152.92
...
' "
STATES.
Main Track.
174.65
Kansas
of
13.34
3.74
System
Under
*
Main Line.
Oklahoma
Louisiana
Texas
Miles in
by the K. C. S. Ry. Co. and Subsidiary Companies.
"
STATE,
Total
"
1,255.59 miles
Operated Under Lease:
Yard Track to plant of the Armour
Packing Co
SAME
Arkansas
—
~
Spiro, Okla., to
Jenson, Ark., to
West Lake, La.,
DeQuincey, La.,
V
—
Tracks of the St. Louis & San Francisco Rail¬
road Co., between Belt
Junction, Mo., and
Grandview, Mo., used under contract:
Length of track so used—Main Line.
11.01 miles
Sidings
2.33
"
,
Main
Line:
Kansas City, Mo., to Belt
Junction, Mo
Grandview, Mo., to Port Arthur, Tex
.
5.57 miles
Total owned or
controlled.
Operated Under Trackage Rights:
follows:
as
;
Springs,
Ark....
..
The track mileage of your Company
418.58 miles
Second
ended June 30 1913, is herewith
your
Company through ownership of all
capital stock.
PORT ARTHUR CANAL & DOCK COMPANY.
—
—
of
track
.02
"
.09
_
"
,
•
Decrease in Second Track between DeQueen, Ark.,
and Neal Springs, Ark., due to remeasurement
^
of
track
Lands, slips, docks, wharves, warehouses, one grain ele¬
vator (capacity 500,000 bushels), &c., all at Port
Arthur,
Texas; controlled by your Company through ownership of all
the capital stock and bonds.
1
...
.
Total
Deductions
Net Increase in
i!
Operated Mileage.
2.39
One first-class elevator of
"
...10.00 miles
THE K. C. S. ELEVATOR COMPANY.
at
Kansas
City,
capacity 650,000 bushels, situated
Missouri; controlled by your Company
through ownership of all ^he capital stock.
."
-
.
Increases in Maintenance of Eouipment—
Expenditures made with a view to improving the general condi¬
tion of equipment and expenditures necessary to comply with
IMPROVEMENT COMPANY.
LAND &
THE MENA
formed for taking title to real estate at Mena,
and vacated in consequence of the
division terminals at Heavener, Okla¬
homa, and DeQueen, Arkansas; controlled by your Company
through ownership of all the capital stock.
*
A Company
Demg
COMPANY.
167 tank cars, under equipment
controlied jointly by your Company as the owner of
three-quarters of the capital stock, and the Midland Valley
Railroad Company as owner,of the remaining one-quarter
It is
an
to
of
30
.
Miles of Branches.
Miles of Sidings and Spurs
Miles of Second Main
..
Track.
:
+ -02
788.12
39.03
410.11
14.11
,
Net Tons one
Gross Revenues
4,702 15
127,072 54
—8,355 82
+$1,433,450 11
■
'
Operating Expenses—
Maintenance
of
Way
Equipment..
Traffic Expenses....
Transportation Expenses—
General Expenses
Total....
1,344,624 70
315,868 27
,
v
to Gross
3,661,311 30
400,512 46
•
3,318,608 54
366,325 56
$2^940,020
63.02%
—707 01
+342,702 76
+34,186 90
Net Tons one
Mile-'-North
Mile—South
These
—
—5-27%
Mile—North
Mile—South
633,299,124
450,986,864
—".
...182,312,260
—
—
figures indicate that with a balanced movement an
in the volume of freight traffic could
believes that the growing activities of
and normal development of the territory
tributary to your road will soon bring about a more satis¬
factory equalization of traffic.
REFUNDING AND IMPROVEMENT MORTGAGE BONDS.
The management
Gulf
To
ports
equipment
additional
provide
and to meet other
demands, there were sold during the year $1,500,000 par
value of the $21,000,000 of Refunding, and Improvement
Stockholders
Mortgage Bonds authorized by the
1909.-
:V"
...
.
The situation at June
as
follows:
•
Issued and
December 2
.$21,000,000 00
-
sold—
:
$10,000,000 00
5,000.000 00
500,000 00
500,000 00
:
1912
500,000 00
April 2 1913-
16,500,000 00
——
comparison of the Gross Revenues
for the year ended June 30 1913 with those for the preceding
years is respectfully submitted:
"
a
"
The following detailed
Freight Revenue—
'
Agriculture—Due principally to in¬
Increases in
Products
of
•
$1,500,000 00
$67,620 00
;>
,
' \
906,530 77
974,150 77,
:
.
Balance unexpended June 30 1913
of the lum¬
ber interests from the strikes and bad weather
prevalent in the preceding year, to increase in
the export movement and to enlarged domestic
consumption.
— .—
624,715 25
Due to general development of the territory tributary to your road—
•
From Products of Animals
$81,771 37
*
$525,849 23
...
-
'
•
..
The. total
June 30 1912,
,
-
A-? ''
EQUIPMENT TRUSTS.
Equipment
was:
outstanding
Obligations
Trust
.
Series "A", dated November 1 1905
Series <4B", dated June 1 1906..
A
115,804 19
Merchandise & Miscellaneous 108,807 07
V
expenditures for Additions and Better¬
ments, including Equipment
*
Products of Forests—Due to recovery
Manufactures
"
year, was:
Discount and Bond Taxes.
69,222 97
....
the $1,500,000 of
June 30, as regards
the
Net
of Mines—Due
territory
on
$4,500,000 00
'
Total issued and sold—
$296,796 33
...
principally to increase
in coal movement resulting from
failure of
natural gas and partly to the development of
the
The situation
bonds sold during
in
population
Products
Unissued June 30 1913
.
shipments of export wheat and of
fruits and vegetables, and partly to growth of
crease
\
was
•
,
,
July 1 1909
February 15 1911—.
November 1 1912
*
June 29
on
;
"
30, with respect to such bonds,
Total authorized issue
—5.35%
72.72%
118,249,487
transported with slight additional expense*.
the
•
67.37%
-A-
— ——
increase of 16.8 per cent
+964,161 69
68.29%
528,831,477
-..410,581,990
..
v
...
ended June 30 1913.
Balance—.
To
26
Ratio of Operating Expenses
and Taxes to Gross Rev¬
enues
Net Tons one
+$414,318 19
2,529,651 33
"
due generally to
was
,
-
+$1,019,131 92
410,368 93
+54,970 23
3,493,813 02
Revenues
n
—$16,552 30
+$54.687 84
1,289,936 86
316,575 28
.—.—.$3,959,152 18
465.339 16
Operating Income—.'
—
Ratio of Operating Expenses
.
,
..$6,747,157 10 $6,332,838 91
...
Taxes
.
and
$1,024,840 37 $1,041,392 67
Structures
Maintenance of
Net Revenue.
—466 64
4,235 51
118,716 72
-
Operations
Transportation
Other than
This result
Balance..
To
be
.....$10,706,309 28 $9,272,859 17
Revenue.--.
Revenub
from
that,
train-load from 1,011.80 to 1,182.97 tons, and a re¬
train miles.
,•
That result was obtained with the traffic movement not
so nearly balanced as during the preceding year, as will be
seen by Itlie following comparison:
u
"
For the year ended June 30 1912.
-
$6,658,269 14 +$1,297,117 18
522,855 72
+10,042.31
1,599,345 56
, +95,234 85
18,154 36
+751 57
4,288 48
+1,593 32
1,553 06
—213 95
123,247 16
123,286 42
—39 26
251,118 29
213,331 74
+37,786 55
Revenue....
of satisfaction to your management
improvements which have been made, and particularly
changes in grade, which enabled an increase in the average
+10.07
—.09
Revenues from Operation—
Freight Revenue..-.-.
$7,955,386 32
Switching Revenue
—
532,898 03
Passenger Revenue^. —
1,694,580 41
Excess Baggage Revenue
18,905 93
Special Service Train Revenue " 5,881 80
Other Pass .-Train Revenue..
1,339 11
Express Revenue
Miscellaneous Transportation
.$414,318 19
increase of $1,433,450
For the year
Mail
17 »a5" ol
.
Operating Expenses..
source
a
an
Net Tons one
Decrease
1911-12.
788.14
39.03 '
420.18
14.02
707 01
■
gross
Increase (+) or
Miles of Main Line
"
the
the preceding
v: •/.•>..//'.y'••
1912-13.
Operated Mileage—
,
>
,
i
duction of 330,965
statement shows the results of operation
Southern Railway for the year ended June
(•' •';•; .*'■
•
$16,552 30
..—
of the addition to gross.
'V-
:•
...———$431,577 50
11 in Gross Revenues, there was
increase in Net Revenue of $1,019,131 92, or over 71%
with
;
compared with corresponding results for
1913
vear.
•
Net Increase in
included in those of The Kansas City Southern
Railway Company in so far as is necessary to show the results
of the operation of the whole line from Kansas City to the
The following
—
...
•company are
the Kansas City
34,186 90
—
Increase.
Traffic Expenses— .■■■'
Miscellaneous (net)..
portion of the System lying within the State of Texas,
of which is included in the operated mileage of
your Company, is operated separately by its owner, the
Texarkana & Fort Smith Railway Company, which company
ha§ its own general offices and books of account at Texarkana,
Texas, in accordance with the Texas, law.
For the sake of completeness, however, the reports of that
RESULTS OF OPERATION.
10,523 90
—
...
v
Decrease in
That
'
a
organization and increased
of Wdy and Structures—
principally to improvements made in former
the mileage
"
-
Decrease in Maintenance
Due
years
Gulf.
$18,576 10
2,326 91
2,759 99
—
--—
(net)
Total
342,702 76
A ;
premiums
business
'
stock.
General Expenses—
Stationery and Printing
Resulting from changes in
Company operating
the
moved one mile,
of the preceding year
215,981 15
gross tons
Expenses—
Insurance
'
^
...$126,721 61
12.4% in excess
Increases in
trust;
of
Transportation Expenses—
In price of fuel
Increase of 255,519,009
Law
A
$54,687 84
the law..
Increases in
Arkansas, abandoned
establishment of new
GLENN-POOL TANK LINE
1047
CHRONICLE
THE
1913.]
Oct. 11
$504,000 00
240 000 00
—_
$744,000 00
'
306,382 63
•
"
•
$1,297,117 18
Switching Revenue—
Due to increased switching at—
Kansas City
Increases
in
Jopiin..
.
i-
..
$1,050 09
386 00
— .
Texarkana.;
,
740 00
Shreveport
930 00
Port Arthur...
„
860 00
5,860 00
216 22
Beaumont
—
Miscellaneous
10.042 31
Increases
in
Passenger Revenue—
ber 15 1912.
$358,677
70,590
24,879
969,744
15 Consolidation Locomotives
4 Six-Wheel Switch Locomotives
of population—
$62,966 68
32,268 17
Interline Traffic
„
That agreement covers:
Due to recovery from unfavorable conditions prev¬
alent in the lumber districts during the previous
year, and to increase
Local Traffic
Ejuring the year all these obligations were paid, and the
equipment has been included in equipment owned by your
Company.
'
In order to acquire additional equipment necessary to
handle the increased business1 of your Company, Equipment
Agreement, Series "D", was entered into as of date Decem¬
1 Shay
95,234 85
Locomotive
;
1,000 Gondola Cars—Steel underframe
100 Furnituro-Automobile
Cars—Steel
Increase in Express Revenue—
Due to improved service and to increased movement of
37.786 55
1,625 04
_
Miscellaneous net Increases
42
50
under-
frame
fruit.
10
06
.
200 Flat Cars—Steel underframe
131,278 14
203,823 78
$1,758.993 00
_
,
u
Less—Cash
$1,441,805 93
Total Increase
Decrease in Revenue from
tion—
Operations Other than Transporta¬
Classification of the Inter-State Commerce
Commission, which resulted in transferring track rentals
directly to the income account
Equipment Notes issued—Interest
maturing serially in 12 years..
Due to change in
8,355 82
During the
$1,433,450 11
madei against any Company freight.
The increase of $414,318 19 in Operating Expenses was
due to the following causes:
•'
No
revenue
charge
was
From proceeds
at
5 per cent and
$1,488,000
the net expenditures for Additions and
Road and Equipment were:
year
Betterments to
Net Increase in Gross Revenues
270,993 00
payment
of Refunding and Improvement
Mortgage Bonds....
Current funds—.....
Equipment Trusts
$906,530 77
499.383 58
1,426,000 00
—
$2,8315914 3
•
•
3-
1048
i.
•
THE
CHRONICLE
These expenditures include the cost of a number of
new
spurs to serve industries not heretofore reached
by your
tracks, and to accommodate new industries in process of
establishment.
The following is a list of such
spurs, some of which have
been completed and others are in course of
construction:
NEW TRACKS TO SERVE NEW
INDUSTRIES.
Completed—
Caddo Gas & Oil Co
Haynes Coal & Mining Co
Kansas City Packing Box Co
■__»
Dunham, Brackney & Sudduth (Fruit)
Sulzberger & Sons Packing Co
J. C. Appleman
(Lumber)
Pittsburg Wholesale Grocery Co
Kelly Gin Co
Wm. Hamilton Coal Co
J. S. Franklin
(Coal)
American Radiator Co
Caddo Gas & Oil Co
Erastus Cole (Lumber).
Brown Stave Co
*
Mile 521
-
,
'
Ardath, Mo.
Mile 440.
;_.-_DeQueen, Ark.
...Shreveport, La.
-
Marble
-
Kansas City, Mo.
Mooringsport, La.
_
-
Mile 703.
_
Many, La.
-
:Kansas City, Kan.
...
.Rose Pine, La.
Texarkana, Tex.
..Nelson, Kan.
____.;
...
__
Uncompleted—
•
June 30 1900 to June 30 1913".
..Kansas
_______
Appli¬
cation has been made to the
Court to reconsider its
decision,
which application is now
under advisement by the Court.
...Mile 531.
...
Waters-Pierce
Oil Co
.Shreveport, La.
Clemons Coal Company.
Mulberry, Mo.
Extension to alley track between Grand Avenue
and
Walnut Street to serve various industries
.
Kansas
__
•
The appended Balance Sheets and statistical statements
give full detailed information
concerning expenditures for
Improvements and the results of operation.
.
City, Mo.
NEW TRACKS TO SERVE OLD
INDUSTRIES.
Completed—
Gulf Refining Co
-V
"
_.
_
*
Industrial Spur...
___
Uncompleted—
_____
V <'
Jno. J. Thomas
Mile 479.
Mansfield Hardwood Lumber Co
Co
...Shannon, La.
Pickering, La.
Leeds, Mo.
s
Jno. Prince Crusher Co
CANADIAN
Address of President Sir Thomas G.
Montreal October 1st 1913.
.
*
PACIFIC
the
mark of
there has been
your
gross
decrease, due to the falling off in the move¬
traffic, as well as in the building and
other trades throughout Canada.
However, thus far in the
year your gross revenue is larger than it was in
1911, and with
ment
a
crpps
develop
every¬
with which the
country has been blessed and the general improvement in
the money market that
begins to make itself manifest, there
is every reason to
NEW
STOCK
anticipate another satisfactory
ISSUE—CAPITAL
year.
"Your issue of additional
capital stock
early in the
works essential.to the future welfare of
your property, and
it was a distinct boon to the
country,
was
as
it did,
for thousands who would otherwise have been
most useful.
necessity
large
.
The constant demand for
recurring
a
for
/
railway mileage, the
second, tracks, larger
stations, shops, yards, and more cars and
locomotives, to
cope with your enormous traffic, involve
expenditures that
ar6 almost
startling; but
TRIPLED
we
cannot afford to stand still.
INCOME
IN
TEN
YEARS.
"In ten years the annual
gross income has grown from
$43,000,000 to $139,000,000, and if Canada is to meet our
expectations in point of population and prosperity, as
beyond
doubt it will, there should be a
proportionate increase during
the next ten years, provided that we
have the
roadbed,
equipment and facilities to handle the traffic as
against
all
of
comers.
This does not
mean
that the expenditures for
these purposes during the next few
years need be
anything
approaching those of the past, because when the lines
are completed our construction
prograih
being built
now
may
be
substantially modified, and, with the exception of
improve¬
ments at one or two points in Eastern
Canada, where con¬
preceding
Thirty-Second Annual Meeting held in
our
requirements.
.
MONEY WELL SPENT.
"This year the
company's bond, debenture and share capi¬
tal, including the recent issue of $60,000,000* is
$283,000,000
more
than it
was
in
1903.
Of this amount,
$124,000,000
expended in the construction and acquisition of addi¬
tional mileage and the purchase of
ocean, lake and river
steamers, and the addition to your car and locomotive
plant,
was
$101,000,000.
The
balance
improvement of
of
your
$58,000,000
was
property, but this
was
supplemented by premiums on stock issued,
appreciations from surplus earnings to the amount of
$105,000,000, nearly all of which will have been expended
and
by the end of the current
vested in your property
of
sum
year.
So that you will have in¬
in those ten
or
eleven years this large
$105,000,000 that will represent
and will
consequently make
no
no
draft upon
capital liability,
your revenue.
STEAMSHIPS PAID FOR THEMSELVES.
.
_
"Only
and
.
additional
providing
a
gestion during the busy season is
annoying as well as expen"
sive, and the completion of a second track on
portions of
the main line, will
by the end of this season be well ahead
un¬
when
way
on
•
amount
year,
stringency that
prevailed in Europe and elsewhere, was of great
advantage
to you, because it enabled
you to proceed with important
employed, and furnishing circulation in
at the
used for the general
while it bore rather severely on shareholders
who had to find
money to meet their, calls during the period of
providing,
EDSON, President.
under Annual Reports
see
RAILWAY COMPANY
absorbed
EXPENDITURES VERY
NECESSARY.
it
J. A.
[For statistical tables
page.]
of westbound
the renewed confidence and
courage that will
where as the result of the bountiful
wages
Your Board has deemed it
advisable, how¬
to retain herein the form of balance sheet
heretofore
adopted, since the Stockholders are familiar with
it, and since
it is believed to set out
more
clearly the financial condition
of your
Company.
.
!
By order of the Board of Directors.
•
through¬
earnings reached the high-water
nearly $140,000,000, but since the turn of the
year
year
Washington.
ever,
Shaughnessy to the shareholders
'With the active business conditions that
prevailed
out
balance sheet prescribed
by the Inter-State
Commerce Commission has been filed with that
Commission
at
<
Cove, Ark.
'
Many, La.
.Port Arthur, Tex.
Kansas City, Kan.
Pickering, La.
Sulzberger & Sons.
Pickering Lumber
/ ,*
Arthur, Tex.
...Redland, Okla.
Kansas City, Mo.
Pelican Stave Co
The Texas Co
The form of
•
...Port
Hines-Kobel Sand Co
Fairmount Coal & Feed Co
Cove Lumber Co
64 to 68.
In the litigation
between the Receivers of the Kansas
City
Suburban Belt Railroad
Company and the Guardian Trust
Company, mentioned in a previous report, a decision was
rendered adverse to the Receivers
in October 1912.
Texarkana, Tex.
Florien, La.
City, Mo.
Shreveport, La.
...
,_
pipe culverts from
Among the Statements and Statistics will be found a table
showing the progressive improvements made in
bridges and
culverts from
Mile 591.
-
Armour & Co
Industrial Spur
American Radiator Co
Fowler Commission Co
Thomason Lumber Co
concrete
.Fuller, Kan.
_
__
City, Okla.
__Mile 76.
Mile 74.
---
Bevins-Smith. Coal Co
Mansfield Clay Products Co
Kansas City Bridge Co
Industrial Spur
National Wood Preservative Co
Central Coal & Coke Co., Mine No. 47
,
Pittsburg, Kan.
__
track
connections, which were to have been completed
by
January 1 1914, cannot be made ready for service until
some
time thereafter, on
account'of labor troubles.
The bridges and culverts
of your road were
improved
during the year by reducing the total
length of trestles from
70,076 feet to 63,173 feet;
increasing the total length of steel
bridges from 21,632 feet to 21,662
feet; increasing the number
of stone and concrete
culverts from 615 to 636;
increasing
the number of cast-iron
pipe culverts from 555 to 557, and
the number of
-
Mile 725.
-
xcvii.
In addition to these
tracks, preliminary steps have been
taken towards the
construction of tracks at
Mansfield,
Louisiana, to accommodate the traffic
resulting from develop¬
ment of the oil fields
recently discovered about eight miles
northeast of that station.
The management of the
Kansas City Terminal
Railway
Company, in which your Company owns a one-twelfth in¬
terest, reports that the new Union
Passenger Station and
'
„
[Vol.
a very
small portion of the earnings of
Pacific steamship lines
were
included in your net revenue,
stead to the
your
Atlantic
during the past few
years
having been transferred in¬
steamship replacement fund.
approximates the entire cost of
your
As this fund
now
original Atlantic fleet,
it is neither necessary nor desirable to increase it
by the ac¬
quisition of eighteen steamships with a gross tonnage of
146,361 tons.
The earnings of these steamships have been
utilized in
retiring their cost to
which
your company,
now
stands at about
and
$2,250,000, included temporarily in advances
investments pending a determination of
policy.
STEAMSHIP SEGREGATION FORESHADOWED.
"The trans-Pacific
of traffic to your
steamships, while useful
railway system, have
as
never
contributors
been particu¬
larly profitable, and indeed the Atlantic Ocean traffic varies
considerably from year to year in volume and value, but I
think
we
may
with safety anticipate
an
annual net
revenue
of $2,000,000
fromthe trans-Atlantic and trans-Pacific steam¬
ship lines, after making due provision for interest on their
cost
and for
depreciation.
The formation of
a
steamship
OCT.
111913.1
THE
'
1049
CHRONICLE
^
vessels whose cost has not been capi¬
talized, to charter or lease those purchased with the proceeds
of securities, and to provide means for the construction or
company
to acquire the
purchase from time to time of additional vessels of a suitable
maintain the character of the fleet, and to strengthen
earning power is receiving some consideration.
type to
its
yielding a fair return,
accessories to your
tourist traffic during the summer months, are operated at a
loss.
However, on the whole, your hotel system is reasona¬
company's hotels
"Most of the
but
some
provided
of them,
are
as necessary
bly profitable, and hereafter the net profits, which have been
treated
special income.
as
"Legacies that
tion
additions and improvements, will be
in the past for
used
of
have involved you
ordinarily
to you with acquired lines, the utiliza¬
come
in
other circumstances,
number of enterprises that do not
a
within the province of a railway company.
come
cepting when the lands are sold.
With established condi¬
tions in Western Canada and the experience of the last few
there would appear to be no
remaining
of the
order to be
terests
mining, smelting and water
power
in¬
of considerable value as compared with what they
cost you,
from which
in the current year will
your revenue
approximately $250,000.
Your coal mines at Bankhead,
Hosmer and Lethbridge, from which you received in the
be
upwards of $300,000, and your lumber mill at Bull
River, in British Columbia, where ties and timber are manu¬
factured, are for the company's use a doubtful enterprise,
year
excepting in
so
far
as
bounds.
it serves to keep prices within reasonable
:;v\,v;
.v;
;
v
V/;■
"Railway companies in the United States are required to
their income from
segregate their railway earnings proper and
other sources, and
while there is
as
yet .no similar legal re¬
quirement in Canada, we have, as you know, recently made
such
a
change in
our
system of accounting as to practically
practice of other railway companies; but we
conform to the'
still include in the earnings of
out
the railway the returns from
commercial telegraph system and our Pacific Coast steam¬
ships.
sources
In the next annual report the revenue from these
will be treated as 'special income' and, of course,
there will be
a
corresponding reduction in the gross and net
earnings of the railway.
EASIER
*
and held for
last autumn
that it may
be
large
TERMS FOR
areas
as easy as
on
of the last few years, namely
worth
On this basis, your unsold lands are
have spent a large sum on irrigation
works in the Calgary district, with the result that 500,000
acres of the irrigable land should bring
an average of $25
per acre above the price mentioned, or $12,500,000 addi¬
tionally.
Esquimalt and Nanaimo lands on Vancouver Island
residuary interest in other lands acquired with
your
portion of your system will realize
you have over six hundred townsites, including Vancouver, appraised by the officers of the
land department at $21,500,000.
The present estimated
railway lines constituting a
at least
of
and townsites still belonging to
market value of these lands
the
is therefore $129,021,500.
company
SEGREGATING LAND ASSETS.
.
desirability of
directors have been considering the
"Your
conveying these lands and townsites and other interests to a
in exchange for all its capital stock to be held
in
into the balance sheet with your
other assets; but a conveyance of that description has its
disadvantages, particularly with reference to the lands, and
it is probable that the same end may be accomplished by the
treasury, and taken
your
creation of an investment
fund to be administered by trustees
specially designated. In
the next annual
report is published, to devise some plan for reconstructing
the special income account and showing your extraneous
any
the
of
by officers
or
company
event your directorsi will endeavor, before
assets in
more
tangible form.
.
land sales will remain
:
policy in dealing with your
"Meantime while the present
unchanged, and the proceeds will be
as
heretofore, it is felt that the cash proceeds of
sales in your
'
SETTLERS.
Then
$7,000,000.
townsites, which last year amounted to $1,409,-
conserved
land from being purchased
speculative purposes, regulations were adopted
limiting sales to actual settlers, and in order
"To prevent
quite
$14 per acre.
company
SEPARATE EARNINGS STATEMENT.
.
areas
is somewhat below the average
"The
your
thickly populated, the market value
will naturally tend upwards, but in
the safe side, let us adopt a figure that
country becomes more
and
are
difficulty about deter¬
mining, with a fair degree of accuracy, the preesnt value of
this asset.
Of course as the lands are disposed of and the
INDUSTRIAL EARNINGS.
"There
foot-note to
a
but it plays no part in your accounts ex¬
the balance sheet,
$88,021,500; but you
of your coal lands and
some
is mentioned in
Saskatchewan and Alberta
years,
MISCELLANEOUS EARNINGS.
LANDS WORTH $129,000,000.
ownership of 6,287,250 acres of land in Manitoba,
"Your
your
possible for settlers to purchase and
develop lands, only one-twentieth part of the purchase
price
with propriety, be taken into special income, to
be dealt with as the directors in their discretion deem best.
747,
may,
McNicholl,
David
[Messrs.
Charles
Hosmer,
R.
Hon.
MacKay and Hon. James Dunsmuir were re-elected,
Robt.
At
directors.
subsequent meeting of the Board of Direc¬
a
Sir Thomas G.
Shaughnessy
re-elected President,
required to be paid, down, and the balance is spread over
tors
and
policy should, have the effect of bringing your
This
lands under
cultivation with increased rapidity and, while
the cash in¬
B.
Angus, David McNicholl, Sir Edmund B. Osier, Sir Thom¬
stallments will be less than heretofore, the, deferred payments
as
G.
carrying interest will yield a larger income.
Royal, Sir William C. Van Home.]
is
a
period of twenty years, wjth interest at 6 per cent.
O Gara Coal
,
Co., Chicago.—Additional Receiver s Ctfs.—
authorized to be issued
by the company and allied properties late last month (V. 97, p. 890),
application was also recontly made by three more of the allied coal compa¬
nies located near Harrisburg,
111., to issue certificates to enable them to
resume operation, viz.,
Imperial Coal Co., $20,000: Middle States Coal
Co., $15,000, and Vivian Collieries, $20,000.
Early in October part of
the miners employed at Cambridge, O., and Harrisburg, 111., had been paid
and work resumed by them and payments to other miners were expected
to be made shortly, so as to place all of the properties in operation.
The
certificates, It is said, will be 2-year 7,per cents.—V. 97, p. 890, 822.
In addition to the $185,000 receiver's certificates
Consolidated Mining Co .—Dividend Reduced.
A quarterly dividend of $2 a share (par, $25) has been declared on the
$2,403,750 stock, payable Oct. 31 to holders of record Oct. 9, comparing
Osceola
50 in July last and $3.in April and Jan. 1913 and Oct. 1912.
Recent Previous Dividend Record (Dollars per Share).
*00; '01. *04. '05."06; '07. '08. '09. '10. '11. 1912. Oct.'12.
1913.
f$6
$6
$2
$4 $10 $7
$2
$8 $10$7^$9HJ-J
$3
$3,$3,$2^,$2
—V. 96, p. 1844.
■
with $2
.
Pacific
Co.—New
Coast
both of Boston,
and Grant B. Schley.
The new directors represent W. B. Thomas interests.—V. 96, p. 954.
New Officers.—H. W. Cannon has declined re-election as Chairman of
the board and the position remains unfilled.
Clifford C. Fay has been
elected Sec. & Treas., succeeding John Kean.—V. 97, p. 954.
Co., Columbia, S. C.—Bonds Pledged
&
Electric
Securities Co. under
"Railroads"
Phelps, Dodge & Co.—Copper Production.—The produc¬
by the Copper Queen, Detroit and Mocteluma mines, owned by Phelps, Dodge & Co., for the nine
months ended Sept. 30 1913 was 106,480,723 lbs., as com¬
tion
of copper
pared with 101,496,974 in 1912, as follows:
Pounds.
1913.
1912,
Pounds.
June
11,510,711 10,892,391
10,230,280 July—
i_ —10,519,051
March—--11,517,338 10,928,169 August
April
-11,689,357 11,312,759 September
May a
11,852,535 11,134,545
January
February
Total (pounds) for
nine months..
Customs
1912.
11,481,874 12,083,089
1913.
11,682,094 11,875,618
13,320,264 12,275,593
12,902,499 10,764,530
106,480,723 101,496,974
ores
business added
,:
further amount for the nine months of
a
732.
Philadelphia Suburban Gas & Elec. Co New Plant.—
controlled by the American Gas Co. and serving a large
including Hazel ton, Pottstown, Darby,
is erecting at Chester a new up-to-date
coal gas plant* with a daily capacity of 1,500,000 cu. ft.; also a 300,000,000 cu. ft. header.—V. 97, p. 526.
This company,
territory around Philadelphia,
Jenkintown, Ogontz, &c., &c.,
Pittsburgh
(Pa.)
Co.—Committee of Directors to
Accumulated Pref. Dividends.—
Coal
Consider Adjustment of 39%%
Flinn, Chairman; James H. Beal, Andrew W. Mellon, J. D.
Lyon, H. R. Rea, J. B. Finley and M. H. Taylor.
[One plan rumored
would call for an exchange of 5% bonds of a new refunding issue, $ for $J
both for the pref. and the 39)^ % of accumulated dividends.—V. 97, p. 241.
William
•
•
..
.
June 30
1912-13
Total
1911-12
.
.
1
:
■
Manufacturing
Pope
Year—
Henry B. Day, of R. L. Day & Co., and Edward Pierce,
Parr Shoals Power
Shaughnessy, Right Hon. Lord Strathcona and Mount
7,890.669 lbs. in 1913, against 7,142,677 in 1912.—V. 97, p.
Directors.—
have been elected directors to succeed Clifford G. Day
See Columbia Ry., Gas
above.—V. 95, p. 1125.
and
was
David,'McNicholl, Vice-Presidenjt, of the company,
the Executive Committee appointed as follows:
Richard
Earnings.
.$259,239
316,877
.
■.
Miscel.
"Miscellaneous deductions"
'
.
'
■
■
■
-
..
Hartford.—Earnings.—
Bal.,Sur.,
Common
Pref.
Divs.
Div.
DeducVns.
$230,327
65.587
.
Co.,
(4)^%) $104,319
(6%) 137,892
or
Def.
def.$171,871
$36,908
76,490
sur.
embrace miscellaneous losses and expenses,
provision for losses on bad and doubtful accounts
(amounting to $81,867 in 1912-13) and interest, discount and commissions
on loans ($148,460 in 1912-13).
The balance sheet shows outstanding on
June 30 1913 $510,000 loans payable (a new item) in addition to the $1,000,000 2-year 6% notes due April 1 1914, offset by $715,701 accounts and
notes receivable
(less reserves for bad and doubtful accounts), against
$396,608 on June 30 1912.
/
including
discounts,
The stockholders of the Connecticut Co., at a
meeting on Sept. 22, ratified
the company, all of the assets of which
Massachusetts company.
A certificate to
that effect has been filed at Hai ford.—V. 97, p. 600, 180.°
a
vote of the directors to dissolve
have
been
St.
transferred
to
the
Joseph Lead Qo.—Merger Plan.—The plan of
1913 for the consolidation of this company,
Doe Lead Co., has
Sept. 10
and its, ally, the
been accepted by the directors of both cos.
and by a majority of the stock of the former and
two-thirds of the stock of the latterThe report
committee embodying the plan says
in brief:
by about
of
a
joint
*
1050
THE
CHRONICLE
James R. Finlay, mining
expert, reports that the St. Joseph Lead Co.
has 6,444 acres of land either known to
contain ore or so situated as to
presumption of
ore, and
2,810
acres in which ore is
doubtful and rather
has 3,108 acres of the first class
Improbable; while the Doe Run Lead Co.
and
1,337
acres of the second.
Mr. Finlay estimates the "amount of ore
in the land of the St. Joseph Lead Co. at
11,200,000 tons; in that
of the Doe Run Lead Co. at
8,250,000, while promising and partially de¬
veloped lead lands should add 11,075,000 and 4,450,000 tons, respectively,
bringing the grand totals up to 22,275,000 and 12,700,000 tons."
And so,
in
sight
with the earning power
COMMERCIAL
.
Co.
Mr.
Finlay believes that "by allowing for improvements indicated by
properties, they should have a combined
earning power," after liquidating the excess of current liabilities, almost
double that of the past rew
years.
J. W. Kendrick also has made a full
report as to the railroad properties.
:
-Plan Recommended by the Committee.
(1) That inasmuch as the St. Joseph Lead Co. has an authorized
capital
stock of $20,000,000, of which
only 810,000,000 has been issued, 85,000,000
of the unissued stock to be issued in
exchange for all of the issued stock of
the Doe Run Lead Co.
The present organization of the St.
Joseph Lead
Co. to be maintained,
since, as a N. Y. State corporation, it is understood
to have the
unquestioned power to hold the stock of the railroad companies
and other subsidiary
companies.
(2) The consolidated company to have
13 directors, incuiding for the first
year seven members chosen by the pres¬
ent administration, and the other
six, one by Mr. Robert Holmes and five
by the committee.
(3) Mr. Finlay to be employed as consulting engineer
for six months or
longer, to effect the reforms recommended by him.
(4) Tne combined salaries of the Pres.,
V.-Pres., Sep., Treas. and Chairman
of the executive committee not to
exceed $55,000 for the first year after
merger, and that the further expenses of the N. Y. office
,not to exceed
$15,000 per annum.
(5) The consolidated company to endeavor as soon
as practicable to
liquidate its indebtedness, and to that end apply its net
earnings at the rate of not lass than $1,000,000 per annum.
"
The suits brought by Robert Holmes et al.
have been discontinued upon
payment of the costs and expenses incurred
by plaintiffs.
Since Mr. Finlay's report of. April 1913, two dividends have been declared on the
stock
of the St. Joseph Lead
Co.-, amounting in the aggregate to $250,000.
Upon consolidation, the Doe Run stockholders should receive
$125,000
in cash in addition to
$5,000,000 St. Joseph stock.
The directors of the
consolidated company will be: Dwight A.
Jones, E. C. Smith, Clinton H.¬
Crane, Hugh N. Camp Jr., R. R. S. Parsons, Firmin
Dasloge, C. M. Chapin,
Robert Holmes, M. F. Watts, M.
Kotany, R. F. Howe, Fred. W. Shibley
results obtained in operating these
,
little
St. Joseph Water Co.—October
Coupons Paid
—
Sears, Roebuck & Co.—Sales.—
1913—Sept.—1912.
■
Increase.
|
1913—9 Mos.—-1912.
$2,489,2631 $64,648,938 $56,823,109
$7,946,574
$5,457,311
—V. 97, p. 669.
Increase.
$7,825,829
■■■v,. vv-..
Sealshipt Oyster System.—Stockholders* Committee.—
A protective committee
consisting of Frederick Drew Bond, Chairman
Hans P. Freoce and James L. Goodwin
is aksing for proxies for the annual
meeting on Oct. 27.
It is proposed to add to the committee
some practical
oyster men and then to examine the affairs of
the company with a view
to finding out whether its
business methods cannot be
improved.
For the
fiscal year ending Sept. 3d
1913, notwithstanding a decrease in gross sales,
the company is said to have
earned its operating expenses
(but not the
$125,000 bond interest, now funded till June 1
1914), as against a deficit
of $436,000 after fixed
charges in 1911-12
(V.
*
95, p. 1682).—V.
97, p. 822.
Securities Corporation General.—New
Director.—
Parmely Herrick,
a son of
Earnings.—For
Myron T. Herrick, has been elected
director.
Gross.income, $127,152, including interest and dividends
received from
securities and investments, $75,330; interest cn
loans and deposits,
$11,475;
income from
underwriting rights and privileges, $19,194;
trading profits,
$21,139; expenses, $4,998; special deduction for
discounts allowed
sales
preferred stock incident to organization,
charged to earnings, $5,147; net
income, $117°,007.
Total surplus as per balance
sheet June 30 1913, after
deducting dividend Np. 1 ($27,757) and organization
and furniture and
fixtures, $1,118, was $91,787.-—V. 96, p. 1560.
Union Cotton
on
Mfg. Co., Fall River, Mass.—Dividends.
An extra cash dividend of
50%
hasbeen declared on the
$1,200,000 stock.
Regular payments are now at the rate of
1M % quarterly.
Extra payments
during the last 26 years are said to aggregate about
176%, viz.: 1912. 50%:
1889, 14%;T900, 25%; 1906, 12%; 1909,
25%, and the present declaration.
During that tune the average payments
were, it is stated, about
14%.—
V. 70, p. 1151.'
'■■
United
States
Steel
Corporation.—Unfilled
Sept. 30.—See "Trade and Traffic Movements"'
vious page.—V. 97,
p. 732
670.
Orders
on
a
pre¬
,
United Water & Light Co.—October
time
Wells
Fargo
&
Co.—Earnings.—
Express
Earnings.
—$34,934,814
32,465,971-
Year—
1912-13
1911-12
New Director.—A.
Net (after
Other
taxes).
Balance,
Surplus.
3,045,426
3,441,674
Income.
$1,668,749
2,184,577
$1,376,677
1,257,097
Christeson, Vice-President
division, has been elected
signed.—V. 97, p. 730,
a
& Gen. Mgr. of the
Western
director to succeed William
Sproule who re¬
—At 9834 and interest,
Lee, Higginson & Co., Harris,
Forbes & Co., Kissel, Kinnicutt &
Co., Wm. A. Read & Co.
and White, Weld & Co. of this
city are
for
public
Transit
jointly advertising
$30,000,000 Interborough Rapid
refunding mortgage 5;% bonds, due
Complete,circular can be obtained on
investment
Co.
first
Jan. 1 1966..
and
frOm any one of the bankers.
particulars
and our
other information.
request
See advertisement for
general
"Investment
News
■
.
Department"'
for
'
..—The Mercantile Safe Deposit Co., 115 Broadway, this
city, has made a reprint of the "Income Tax Law" as
enacted
into law by
Congress, in convenient booklet size for
compli¬
mentary distribution.
A copy can be obtained on
applica
tion to William Giblin, President of the
company.
—A
copy
containing
a
of our "Bankers' Convention
Supplement,"
full report of the proceedings of the
annual con¬
vention of the American Bankers'
ton this week, will be sent to all
week's issue of the
Association, held
our
"Chronicle," Oct.
in Bos¬
subscribers with
next
18.
—Potter, Choate & Prentice, 55 Wall St., this
city, are
offering, by advertisement on another
page,
$2,500,000
Memphis Union Station Co. first mtge. 5%
Price 101 % and
interest, yielding 4.90%.
—Lamarche & Coady, 25 Broad
St.,
issued
their
bonds, due
ber, which have been liquidated on a
big scale.
Heavy
selling of other provisions has also affected lard and the
same may be said of a
decline in grain.
To-day prices eased
off and then recovered
1959.
a copy
to any inquirer.
of the loss.
PORK quiet but
steady; mess $23 75 @$24 25; clear $20 @-
$21 50; family $24 50@$26.
Beef steady; mess $18@$19;
packet $19@$20; family $20@$22.
Extra India $28@$30.
firm; pickled hams, 10 to 20 lbs., 143^@15c.;
bellies, clear, f.o.b., New York, 6 to 12 lbs., 13^@16c.
Butter, creamery extras, 31 @3134c.
Cheese, State/whole
milk, colored specials, 1634@lbMc.
Eggs, fresh gathered
extras, 33@35c.
OILS.—Linseed firm; City raw American seed,
50@51c.;
boiled 51 @52c.; Calcutta 70c.
Cottonseed oil easier; winter
7,15@8c.; summer white 7@8c.
Cochin 13^@14c.
Cey¬
lon 1134 @1134c.; China
wood734@7%e.
Corn 6.35 @6.40c.
Cod, domestic, 41@42c.
Newfoundland, 44@46c., '
'
COFFEE has been stronger at home and abroad.
Both
Cut meats
European and Brazilian markets have exhibited noteworthy
Large New York operators now in Europe areunderstood to- have had
something to do with the manipu¬
lation of the markets across the water.
The selling by
roasting concerns has not been sufficient to offset the vig¬
orous
buying.
New high levels have been reached.
Ac¬
cording to some reports, planters and commissarios of Santos?
have been buying.
Some adverse crop reports have been
circulated.
At the same time receipts are heavier and stocks
are increasing.At the present time; however, the stock in
the United States is only 1,072,529
bags, against 1,722,450*
bags a year ago.
To-day prices advanced sharply.
Euro¬
peanprices were also higher. Closing quotations were as follows
firmness.
October.__ 10.25® 10.26 February.. 10.68®10.70
November.10.34® 10.35 March.... 10.80© 10.81
Decerhber. 10.45(3) 10.47 April.,...10.90® 10.91
January ..10.57® 10.58 May .....11.00@11.01
June'-..11.09@11.10
July
11.18@11.20>
August ...11.24® 11.26
Septembor.il.30@11.31
SUGAR.—Raw
slightly higher; centrifugal, 96-degrees
test, 3.48c.; muscovado, 89-degrees test, 2.98c.; molasses,
89-degrees test, 2.73c. - The visible supply of sugar in the
against 950,000 last year.
Atlanticport receipts for the week were 22,355 tons, against 27,761last week and 35,360 last year.
The meltings amounted to*
35,000 tons, against 47,000 in the previous week and 33,000
last
The
stocks
are put at
183,918 tons, against
Granulated, 4.40c.
\
firm; barrels 8.70@9.70c., bulk 5@6c.,
cases
ll@12e.
Pennsylvania dark, $2 50; second - sand
$2 50; Tiona, $2 50; Cabell, $2 07; Mercer black, $2; New
Castle, $2; Corning, $2; Wooster, $1 91; North Lima, $1 39;
South Lima, $1 34; Indiana, $1 34; Princeton, $1
39; Somer¬
set, 32-degrees and above, $1 35; Illinois, $1 30;
Naphtha,
73 to 76 degrees, in 100-gallon drums,
2434c.; drums $8 50
extra.
Gasoline, 86-degrees test, 2934c.; 74 to 76 degrees,.
2534c.; 60 to 70 degrees, 2234c.
Stove, 21c.
Spirits of
turp. 4234@4334c.
Common to good strained rosin $3 90~
TOBACCO has continued quiet, but prices have remained
comparatively, firm.
The stock of both binder and filler
of desirable grade is small, and this has a natural
tendency
to keep prices firm, although the demand is but moderate.
The Wisconsin crop is gradually being absorbed
by packers.
In Cuban leaf there is quite a good business,
especially in
remedies.
Sumatra tobacco has been steady, but it is
quiteas certain that manufacturers are
buying sparingly.
COPPER was reported rather weaker at one time but
latterly has been somewhat steadier; Lake on the spot
16Kc.» electrolytic 16%c.
Tin on the spot 4034> showingsome decline, though latterly the tone at home and
abroad
has been steadier.
Trade is light.
Lead on the spot
4.50c, spelter 5.45c.
Pig iron has been in moderate demand;
No. 2 Eastern, foundry, $15@$15 50; No. 2
Southern,.
Birmingham, $11 25@$11 50.
There is some evidence of
uncertainty in the market for finished ironand steel, owing
year.
96,848 last
year.
.
PETROLEUM
the
new
tariff
.
^
city,
have
October letter
commenting On various public
utility companies, with a list of quotations.
The firm will
supply
some
DAILY CLOSING PRICES OF
LARD FUTURES IN CHICAGO.
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri:
October delivery._cts_ 10.89
10.70
10.32^ 10.62^ 10.60
10.60
November delivery
10.87^ 10.72M 10.35
10.60
10.65
10.62^
January delivery
10.82^10.77^ 10.50
10.57^10.60
10.55
May delivery,.
-10.97^10.92^ 10.65
10.75
10.80
10.75
_
to
this
supposed.
Wheat and flour exports continue
large.
Manufacturing in¬
dustries, aside from iron and steel, are pretty well e
aployed..
LARD in rather better
demand; prime Western $11 20,
refined for the Continent
$11 40; South America $12 05;
Brazil $13 05, all these
prices showing a decline.
Lard
futures have been
weak, especially for October and Novem¬
world is 1,050,000 tons,
Coupons
Paid —
See American Water Works &
Guarantee Co. above.—V.
97, p. 959,
June 30—
Cotton has declined sharply, owing to
that the crop is larger than was at one
The demand for cotton goods is brisk.
.
a
ending June 30 1913:
year
clearly perceived; there are
easing of prices and there is comparatively
some
business.
new
increasing evidence
and Daniel K. Catlin.
See American Water Works & Guarantee
Co. above.—V. 97, p. 954.
of
rumors
..
[Signed by committee: John F. Shepley, Chairman; F.
N.JB, Close,
C. M. Chapin, Clinton H.
Crane, M. Kotany, E. C. Smith andMfF.
Watts,
with Daniel K. Catlin, Sec.,
Security Bldg., St. Louis, Mo.—VI97, p. 732.
EPITOME I
•
^
'
Friday Night, October 10 1913.
There is no doubt that in the
process of adjusting con¬
ditions in some branches of trade to
the new tariff a certain
amount of unset tlement and
irregularity is being caused.
There is some
scarcity of labor, too, in certain manufacturing
industries.
The iron and steel trade hesitates until the
effect of the tariff can be more
(including in the St. Joseph the net earnings from
properties), the proportion is two to one hi
the operation of the railroad
favor of the St. Joseph Lead
.
xcvh.
$ltc (fmutimxial Times.
carry
the
[Vol.
done at
But
as a
effect
Some business in foreign
prices which
of
can
rule the trade
the
new
be attributed
seems
tariff
to be at
will
be.
steel has been
to the lower duties.
sea as
to
just what the
Middlesbrough English
pig,iron has been offered in Philadelphia at equal to $15 60-
Oct.
1051
CHRONICLE
THE
111913.]
Shipboard, Not Cleared for—
On
COTTON.
Ger¬
Great
Friday Night, Oct. 10, 1913.
OF THE CROP, as indicated by our
THE MOVEMENT
South to-night, is given below. For the
total receipts have reached
408,848 bales, against 416,299 bales last week and 367,522
bales the previous week, making the total receipts since
telegrams from the
ending this evening the
week
25,637 bales.
Tues.
Wed.
13,541
1,303
17,129
21,948
2,824
16,725
2,525
21,068
2,676
5,532
2,108
4",242
6,036
6",267
5", 183
3,747
5,387
5,604
14",701
23", 559
30",558
14", 301
18", 323
6",517
8",736
4",867
4,816
2,429
7,654
5,278
3,928
6",503
4,143
3,022
Galveston
Texas
City.i.i.f
4,981
4,321
3,676
2,361
17,799 108,210
2,997
( 12,325
Arthur
Port
Pass,&c.
New Orleans.. _„t
Aransas
_.J
Mobile.
Pensacola..
*
Jacksonville, &c_
Savannah._ _._f
_
Brunswick
t
;
!
Charleston
2,169
1
J
N'port News, &c
Wilmington
Norfolk.
______
Boston
Baltimore.
4,782
31,014
22,240
4,782
3,754
3,225
1,945
1,945
18,931 120,373
16.500
16,500
4,053
38,330
28,132
4,593
4,249
19,665
1,241
1,241
3",894
—
I
!
J.
New York..
Total.
Fri.
Thurs.
Mon.
Sat.
3,894
"102
95
197
J
Philadelphia
87,963 408,848
64,505
60,365
82,068
63,080
50,867
shows the week's total receipts, the
1 1913, and the stocks to-night, compared
The following
since Sept.
last year:
Week.
...
Pass, &c_.
Orleans....
Week.
1
4,782
31,014
1913.
1912.
950,604
141,093
715,496 185,410
61,292 40,822
108,210
12,325
Galveston
Texas City.
This,, Since Sep
Since Sep
1 1913.
This
10.
Oct.
Stock.
1912.
1913.
Receipts to
1912..
138,482
309,442
62,132
18,459
Pt. Arthur
Aran.
New
26,344
103,438
Gulfport..
Mobile
31J
"8",777
100,(
4,286
36,491
59,873
2,979
77,690
28",083
36,435
45",572
l".056
3,695
1,654
"U30
428
64,599
8,450
21,480
256,455
52,700
79,611
142,296
19,207
79,263
101,533
1,831
43,636
24,104
23,367
87",443
42",47.4
20,066
25,675
26,727
186
66,610
2,454
16",255
120,423
""ioo
"T.oli
847
2,827
3,024
3,760
2,475
408,848 1,840,127 421,208
1,814,490
601,113
72",217 ~i"o",6i6
22",240
.....
Pensacola
8,709
4,361
469,786
82,700
141,410
—.
Jacksonville,
1,945
120,373
&c.
Savannah.
Brunswick
16.500
Charleston
38,330
Georgetown
Wilmington
44,119
2,804
1,241
N'port News, &c.
48
York......
Boston
.
Baltimore
~
95,894
28,132
19,665
Norfolk
New
total
with
"197
1,000
10,509
3,894
...
1
Philadelphia
Totals
.
1,528
,
4,227
7,915
814,249
comparison may be made with other years,
give below the totals at leading ports for six seasons:
'■.V In order that
we
;
Galveston '___
TaxasCity,&c
•
New Orleans-
Mobile.
_____
Savannah
Brunswick
Charles ton,&c
"Wilmington.
-
_
Norfolk
1912.
19H.
1910,
108,210
17,107
31,014
22,240
120,373
16,500
38,330
28,132
185,410
129,936
159,706
45,108
31,099
11.152
36,491
10,010
64,599
8.450
21,480
24,104
23,367
31,500
35,858
11,201
89,179
14,569
18,910
27,365
28,126
19,665
i
_
•
16,194
125,435
8,750
•
-
20,182
22,180
28,033
-
|
1909.
1913.
Receipts at—
1908.
141,308'
1,629
58,059
16,497
110,724
21,800
18,110
24,530
•
35,585
139,431
249
64,178
15,631
81,752
4,218
10,936
28,211
22,579
N'port N., &c
1.241
186
238
288
176
178
All others.
6,036
2,003
17,582
3,835
14,365
.3,400
421.208
431,129.
400,089
424,783
370,763
Total this wk.
408,848|
Since Sept. 1. 1,840,127 f 1,814,490 2,025,791 1,676.499 1,955,911 1,734,833
the'week ending this evening reach a total
bales, of which 92,233 were to Great Britain>
31,243 to France and 80,395 to the rest of the ContinentThe exports for
of 203,871
Below
ar^
the. exports for the week and since Sept. 1 1913.
2,259
Charleston
892
16,196
4,950
Orleans—
ew
Galveston
Savannah
11,842
7,000
—
12",665
5,354
5,500
Mobile
Norfolk.
Other
Coast¬
many.
Foreign
wise.
Total 1913.
Total 1912.
Total 1911-_
_
_
2,888
"600
i",66o
19,000
61,759
141,543
32.999
87,542
28,354
92,146
70,101
53,235
48,000
14,328 224,728
17,637 287,545
13,114 209,573
376,385
526,704
446,461
25,869
15,751
3,200
31,994
MOO
2,000
23,496
26,270
27,328
46,347
67,700
106,696
67,263
19,703
4,315
13,055
51,306
'625
7,000
Stock.
13,526
70,782
35,600
12,000
10,251
500
Other ports.
Leaving
Total.
564
4,143
12,453
3,800
5,668
27,403
26,850
5,000
7,225
20,000
New York
period of 1912, showing an
same
of
N
bales, against 1,814,490 bales for the
increase since Sept. 1 1913
Sept. 1 1913 1,840,127
Britain. France.
Oct. 10 at—
Speculation in cotton for future delivery has been on a fair
prices.
In fact, a very sharp decline oc¬
curred, owing to better weather, a tendency to increase crop
estimates and very heavy long liquidation.
Large operators
have liquidated big lines.
The impression got abroad that
the crop had been underestimated and an estimate of as
high as 15,750,000 bales found the market in a vulnerable
position.
Not that this estimate is generally accepted. . It
is regarded more as a guess than anything else, since it is too
early in the season to be at all dogmatic as to the real size of
the crop.
The date of general killing frost has not yet ar¬
rived.
That is supposed to be the chief factor in such
a question as the actual size of the crop. . But the move¬
ment
into; sight
has been increasing and it is be¬
lieved before long, with favorable weather, it will increase
more rapidly.
Spot markets have weakened.
So have Liv¬
erpool prices.
Manchester has reported some falling off in
business, especially with East India. Five banks have re¬
cently failed in Bombay.
The financial unsettlement in
India, it is feared, may militate more or less seriously against
Lancashire's trade with that quarter of the globe.
Politics
in Southeastern Europe have recently been more or less dis¬
turbed.
The Bank of England rate of discount, it is well
known, has recently been raised.
The stock market on this
side of the water has shown more or less depression.
The
Continent and America have sold more freely in Liverpool.
The offerings of actual cotton across the water have at times
been larger.
The South has sold more freely here.
So has
Liverpool.
Wall Street, too, and at times up-town interests,
have contributed largely to the selling.
Also the weather
lias improved over most of the belt.
The big rains have
ceased in the Southwest.
Over most of the Eastern belt,
too, the weather conditions have been better.
Very low
crop estimates are not so often heard.
Instead of 13,000,000 to 13,500,000 bales, the tendency is to crystallize
around 14,000,000 to 14,500,000 bales and above.
There
was a rumor in
the middle of the week that a Memphis
statistician had estimated the crop at 14,750,000.
This,
although a million bales under an estimate which early in
the week had considerable effect, was also a more or less
depressing factor.
The sentiment of many is that the
market was bulled too much in August and September
before anybody had a really clear idea of what the crop was
going to be.
Not a few favorable reports have latterly
been received from Texas and other sections of the belt,
not
excepting Georgia, the Carolinas and parts of the
Eastern Gulf section.
On the other hand, however, there is a
tendency just now to increase the short interest.
From being
heavily long, the drift now is towards' the formation of
a considerable short interest.
Meantime there.is danger of
weather scares.
Heavy rains and high winds on the Atlantic
Coast caused a sudden rally in the,middle of the week. Trade
in cotton goods is rather brisk.
Spinners have been buying
more freely on the decline.
To-day, after an early decline,
there was a rally on covering and Liverpool buying, partly
due to a forecast of colder weather in the Southwest and the
fear of possible bullish developments in the matter of the
weather over Sunday and Monday, tjhe latter Columbus Day.
Towards the close prices sagged, however, owing to a report
that the master-spinners of Lancashire have decided on a
lockout to begin on Oct. 25.
Spot cotton closed at 13".70c.
for middling uplands, showing a decline for the week of 40
points.
'■ ::\
'
The official quotation for middling upland cotton in the
New York market each day for the past w;eek has been:
scale at declining
'
Week ending Oct. 10 1913.
From
Sept.
Exported to—.
1 1913 to Oct.
Exported to—
10
1913.
Exports
10
Sat.
Mon.
Middling uplands
14.20
14.10
Oct. 4 to Oct.
Britain. France.
nent:
Conti¬
Great.
Conti¬
Great
from,—
Total.
Britain.
France.
nent.
Total.
Tues.
"13.90
Wed.' Thurs.
13.90
13.70
•
Fri.
13.70
'
219,050
100,368
Texas City.
31,297
8,806
Ar.Pass,&c.
12,088
39,284
14,732
Galveston..
•
19,075
50,312
69,387
2,734
16",592
19", 326
6,550
New Orleans
Mobile
6,550
15",689
19,301
23~666 57",990
9,154
Brunswick.
8,694
Charleston.
11,642
Wilmington
9,154
8,694
11,642
6,201
"300
7,438
2,788
13",939
2,788
Baltimore..
Philadelp'a.
NEW
The
YORK
quotation
QUOTATION FOR 32 YEARS.
for
middling upland at New York on
have been as follows:
Oct. 10 for each of the past 32 years
"700
1,351
3";050
651
50,050
16,599
4,860
6,145
10.20
1897.C.
.
__.11.10
1904
.
9.75
1903
1895—
.
46,672
53,604
1,030
1910—
14.65
1902—
10.55
9.60
8.85
1896—
1911
1894—
.
1909
13.60
1901
.
1908
9.10
1892—
.
46,250
100,703
1907
11.65
8.44
1900—_-.10.81
1899
7.25
1893—
303
1891.
-
1,709
1906—
11.10
1898
10,870
18,308
16,630
895
"ll",642
"4",403
"""<366
3",050
Fran..
Pt. Towns'd
1905.C
1912
57,590
7,040
17,416
6.50
1889.C
7.94
1888
9.19
1887
100,935
41,604
30,794
32,908
8,709
200,320
13.70
1913.C
5.38
1886
1885
8.06
8.75
1884
10.38
1890
6.12
8.19
1882
MARKET AND SALES AT NEW
1883—
YORK.
SALES.
Futures
Total
Total
92,233
1912. 115,814
80,395 203,871
489,753
185,139
564,804 1,239,696
39,274121,601276,689
541,119
178,444
442,82711,162,390
31,243
Note.—N. Y. exports since Sept. 1 Include 3,620 bales
In addition to above exports, our
pve us
Peruvian to Liverpool.
telegrams to-night also
the following amounts of cotton on shipboard, not
We add similar figures for
ileared, at the ports named.
'lew York.
10.68
9.81
9.44
9.38
9.81
10.00
10.75
11.44
5,775
200
63"'891
727
York.
Boston
San
6,550
42,840
12,088
58,234
21,282
5,775
8,509
45,494
15,986
15,878
9,054
Norfolk
New
13", 821
571,455
17,416
Pensacola.
Savannah..
"5", 129
252,037
2,737
Spot Market
Closed.
Saturday
Monday
Tuesday
W ednesday.
Thursday
Friday
___
__
Quiet,
Quiet,
Quiet,
Quiet.
Quiet,
Quiet
Market
Spot.
Closed.
Contr'ct
Total.
Firm
10 pts. dec..
10 pts. dec.. Steady—.
20 pts. dec__ Barely steady.
Steady
20 pts. dec__ Steady
_
Barely Steady.
_
4,965
"375
1",906
375
100
100
"90
"200
~29tf
565
2,100
2,665
"
Total
1053
THE
CHRONICLE
FUTURES.—The highest, lowest and closing prices at
New York for the past week have been
Saturday, Monday,
Oct. 4.
AT
Oct. 7.
Oct. 8.
Week.
Oct. 10.
Oct. 9.
THE
INTERIOR TOWNS the movement—that is,
receipts for the week since Sept. 1, the shipments for
the week and the stocks
to-night, and the same items for the
corresponding period of the previous year—is set out in
Tuesday, Wed'day,
Oct. 6.
detail below. V;vv
October—
Range
Nov.—
Movement to October 10 1913.
13.42
...
Closing...
13.42
—
Towns.
Receipts.
13.64-.80 13.53-.72 13.39-.55 13.22-.40
13.09-.37I13 .05-.28 13.05-.80
13.79-.80 13.64-.65 13.39-.40 13.37-.39
45-.16
Closing...
Range
Closing...
Montgomery
Ark., Helena..
Little
13.35-.41
13.35-.41
13.61-.62 13.41-.42 13.16-.18 13.18-.20 12.99-.0142.97-.98
...
Athens
Rapge
13.4&-.65 13.36-.55 13.19-.34 13.10-.28 12.97-.22 12. 97-.19 12.97-.65
13.63-.65 13.45r.46 13.22-.23 13.26-.27 13.05-.06.13 04-.06
...
Closing.
Atlanta......
Augusta
Columbus
April—.
Range
Closing...
May—
Range
13.51
...
Closing...
June—
Range
Closing...
July—
Range
...
Closing...
August—
Range
13.22
—
—
13.13
02
—
Macon
13.02-.51
—
13.00-.02'l2! 98-.00
13.61-.63 13.43-.46 13.22-.24 13.20-.22
Rome
La., Shreveport
Miss.,Columb's
13.49-.68 13.40-.58 13 24-.37 13.12-30 12.98^.2342 98-20 12.98-.68
13:66-.68 13.48-.49 13.24-.25 13.26-.28
03-.05
Greenville
13.06-.07| 13.
Greenwood
13.05-.09 12.98-.02 12 92-.99 12.92-.09
13.58-.60 13.40-.42 13.15-. 17 13.16-.18
12.97-.0Q 12, 97-.99
—
...
Nashville
2,338
6,177
1,002
1,748
3,051
1,500
6,819
Dallas
2,103
Honey Grove.
1,417
Houston
102,492
Paris
4,860
by cable and telegraph, is as follows.
Foreign stocks,
as the
afloat, are this week's returns, and conse¬
quently all foreign figures are brought down to Thursday
evening.
But to make the total the complete figures for
to-night (Friday), we add the item, of exports from the
United States, including in it the
exports of Friday ODiy.
up
well
October 10—
1913.
Liverpool
.bales.
Stock at London
Stock at Manchester
Total Great Britain stock..
Stock at Hamburg.
Stock at Bremen
Stock at Havre
~
Stock at Marseilles
Stock at Barcelona
;
Stock at Genoa.
Stock at Trieste
_*
Total Continental stocks.
1912.
404,000
5,000
26,000
489,000
13,000'
53,000
435,000
17,000
103,000
63,000
2,000
9,000
6,000
11,000
555,000
8,000
145,000
83,000
3,000
12,000
3,000
5,000
1911.
260,000
8,000
19,000
Europe._
Egypt,Brazil,&c.,aflt.for Europe.
Stock in Alexandria,
Egypt
Stock in Bombay, India
Stock in U. S. ports
Stock in U. S. interior towns.U. S, exports to-day
_
"
11.
7,096
935
45,418
31,639
4,601
25,525
12,225
12,039
15,711
67,744
8,946
6,928
1.855
3,765
2,200
2,655
5,303
10,622
2,180
2,164
1,949
5,898
11,381
8,173
7,297
36,175
4,555
719
696
7,161
11,941
9,040
4,652
2,940
2,198
1,139
1,091
3,818
11,071
2,228
5,028
456
117
2,500
13,927
5,592
3,000
20,400
1,500
6,280
7,589
37,873
4,576
2,098
3,612
19,815
3,571
6,123
8,012
7,980
3,019
2,084
3,739
2,966
450
153
1,862
1,060
5,746
2,700
614
36,410
7,720
19,609
3,076
2,000
27,984
666
50
487
6,346
636
7,908
1,500
12,367
2.856
3,805
40,400
8,500
9,000
15,173
2,619
2,961
925,693158,301 106,383
35,704| 9,233 7,135
OVERLAND MOVEMENT FOR THE WEEK A
D
SINCE SEPT. 1.—We give below a statement
showing the
overland movement for the week and since
Sept. 1, as made
269,000
4,000
15,000
287,000
up
288,000
10,000
71,000
55,000
12,000
43,000
48,000
'2,000
14,000
from telegraphic reports Friday night.
The results for the
Sept. 1 in the last two years are as follows:
259,000
136,000
423,000
20,000
855,354
29,000
54,000.
273,000
656,034
429,139
59,856
41,000
806,663
45,000
110,000
318,000
814,249
330,349
43,799
3, 343,060 2,799,383
Of the above, totals of American and other
descriptions are
American—
as
1,136
8,136
4,059
13,728
25,199
653
3,382
2,085
1,498
6.426
5,493
17,143
__24,931
72,897
17,032
44,142
4,091
11,557
3,145
10,515
917
3,838
3,625
9,017
128
.
Total gross overland
Deduct Shipments—
Overland to N. Y., Boston, &c
Between interior towns.
—
Inland, &c., from South
__
__
Total to be deducted
*
587
2,139
50
783
762
6,817
Leaving total net overland*.
2,423,676
12,042
3,947
2,802
1,135
4,869
7,214
Via other routes, &c
follows:
Sept. 1.
5,028
2,291
3,i82
Via Cincinnati
Via Virginia points
82,000
232,000
564,525
290,714
38,164
Week.
17,343
4,304
Via Rock Island
Via Louisville
452,000
55,000
657,273
52,000
Since
Sept. 1.
5,729
.....
'
164,000
814,000
-1912-
Week.
Via St. Louis
Via Cairo
7,000
17,000
2,000
13,000
4,000
*1913Since
Oct. 10
Shipped—
2,000
646,000
89,000
786,166'
58,000
154,000
396,000
601,113
360,911
3,128,991
Oct.
Week.
week and since
37,801
Total visible supply
Stocks
Season.
Total, 33 towns294,8041.268,300224.649 360,911
339,3911,431,543 260,745 350.349
1910.
211,000
Total European stocks
India cotton afloat for
Europe.__
Amer. cotton afloat for
918
36,559
1,101
...
Ship¬
ments.
Receipts.
Week.
'
Tex., Brenham
Clarksville...
THE VISIBLE SUPPLY OF COTTON
to-night, as made
_
25,217
2,492
16,480
-.18,114
_
47,680
14,540
27,662
Including movement by rail to Canada.
The
Liverpool stock.
bales.
Manchester stock
Continental stock.
American afloat for Europe
U. S. port stocks
U. S. interior stocks.
U. S.
242,000
15,000
170,000
786,166
601,113
347,000
38,000
232,000
806,663
814,249
350,349
43,799
360,911
exports to-day
37,801
*
Total American
East Indian, Brazil,
153,000
foregoing shows the week's net Overland movement has
been 18,114 bales, against 14,540 bales for the week last
year,
and that for the season to date the
aggregate net overland
exhibits an increase over a year ago of 20,018 bales.
204,000
10,000
121,000
657,273
1564,525
11,000
97,000
855,354
656,034
429,139
59*856
-1913-
1290,714
In Sight and Spinners'
38,164
Liverpool stock
162,000
5,000
11,000
41,000
stock
Continental stock..
India afloat for
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt.....
...
Bombay, India..
Total East India,
Total American
58,000
154,000
396,000
.
107,000
8,000
8,000
39,000
110,000
318,000
Europe.89,000
142,000
13,000
15,000
27,000
41,000
45,000
' 54,000
273,000
29,000
916,000
711,000
538,000
.2,212,991 2,632,060 2,261,383
.
Week.
421,208
60,000
47,680
350,000
14,540
56,000
1,814,490
27,662
328,000
10.____486,962
2,237,807
70,155
246,407
491,748
78,646
2,170,152
253,313
Cgme into.sight during week...557,117
Total in sight Oct. 10
2,484,214
Total marketed to Oct.
408,848
18,114
excess
Nor'n spinners' takings to Oct. 10
Movement into
Week—■
Total visible supply.
.3,128,991 3,343,060 2,799,383 2,423,676
Middling Upland, Liverpool..
7-52d.
6.30d.
5.31d.
8.25d.
Middling Upland, New York....
13.70c.
11.10c.
9.50c.
14.90c.
Egypt, Good Brown, Liverpool..
10.50d,
10%d.
10%d..
13d.
Peruvian, Rough Good, Liverpool
9.25d.
lO.OOd,
lO-OOd.
10.50d.
Broach, Fine, Liverpool
_6 15-16d.
6%d.
5%d.
7%d.
Tinnevelly, Good, Liverpool.
7d.
6 l-16d.
5 9-16d.
7%d.
1909— Oct.
15-^
NEW
69,200
Bales.
13.
a
—
14
...
ORLEANS
566,413
-.535,927
592,444
-
-
2,423,465
263,330
38.556
160,840
years.
Since Sept. 1
Bales.
1911—Oct.
13—
1910—Oct.
14—
15
1909—Oct.
OPTION
Sept. 1.
570,394
sight in previous
.
1911—Oct.
1910—Oct.
2,631,091
2,171,766
2.645,201
MARKET.—The
highest,
lowest and closing quotations for leading
options in the New
Orleans cotton market for the past week have been as follows:.
Continental imports for past week have been
123,000 bales.
The above figures for 1913 show an increase over
last week
Sat'day,
excess
gain of 705,315 bales
Since
Sept. 1.
1,840,127
Interior stocks in
538,000
1,885,676
of 282,724 bales, a loss of 214,069 bales from
1912, an
of 329,608 bales over 1911 and a
Week.
Net overland to Oct. 10
South'n consump'n to Oct. 10-.--
65,000
4,000
5,000
43,000
55,000
52,000
82,000
232,000
20,000
-1912Since
Takings.
Receipts at ports to Oct. 10
2,212,991 2,632,060 2,261,383 1,885,676
-
&c.
Manchester stock.
Stock in
1,006
Okla., Hugo...
S<C., Greenw'd
Tenn., Memphis
Sept.—
London
1,000
N.C., Raleigh..
O., Cincinnati.
...
Stock at
988
Natchez
Vicksburg
Yazoo City..
Mo., St. Louis.
13.41-.62 13.35-.45 13.15-.29 13.03-.19 12.90-.13 12 90-09 12.90-.62
13.60-.62 13.40-.41 13.15-.16 13.15-.16
12.96-.9742 96-.97
Range
Closing...
10.
8,460
1,973
1,789
2,000
53.632
9,369 17,937
12,259
41.850
7,077
8,664
8.642
297
6,114
5,562
3,000
18,346
2,663 15,864
14,891
13,927
2,426
1,893
2,500
14,420
4,177
5,178
4,959
40,860 12,817 15,020
7,940
92,255 18,953 29,462
16,603
14,225
2,330
7,461
3,745
12,423
3,607
1,489
2,729
13,765
4,350
5,285
3,693
29,614
4,247 13,916
11,309
8,564
1,003
5,554
2,035
950
10,879
8,536
3,171
12,905
2,500 10,000
3,598
143
3,922
3,987
3,074
3,209
740
1,200
1,784
373
3,070
2,459
1,270
456
5,539
6,390
1,640
14.851
5,729
3,506
5.643
950
3,644
373
394
6,129
1,760 16,996
922
7,957
1,729
3)150
2,449
876
2,447
426
1,000
73,059 19,621 47,472
26,475
389
1,984
408
1,510
10.633
1,228
1,500
1,000
11,878
3,887
4,547
3,152
15,076
1,986
5,838
10,500
608
5,145
2,213
2,520
685,894 100,791 99,837 164,396
21,624
4,644
5,627
9,690
Meridian
Closing...
"
Rock..
Ga., Albany...
March—
~
.
Selma
Feb.—
Range
Closing...
Oct.
Week.
Season.
1,875
11,501
9,385
3,236
7,757
2,319
4,946
19,879
25,256
3,065
4,258
5,597
7,395
3,822
4,434
5,000
Ala., Eufaula..
13.44-.62 13.33-.52 13.12-.29 13.03-.22 12.90-.15 12 ,90-42 12.90-.62
13.61-.62 13.41-.42 13.16-.18 13.18-.20 12.99-.00:12 ,96-.98
...
Stocks
Week.
13.15-47jl3
Jan.—
Ship¬
ments.
Range
as
Movement f October 11 1912.
—
13.77-.79 13.57-.59 13.36-.38 13.34-.36 13.12-.15 13.10-.13
Dec.—
*
<
13.79-.95 13.72-.85 13.53-.67 13.39-.55 13.25-.54 13.24-.41 13.24-.95
13.94-.95 13.78-.79 13.53-.55 13.51-.53 13.30
13. 27-.29
Closing,..
Range
xcvii.
the
follows:
as
[Vol.
Oct.
over
4.
Monday. Tuesday.
Oct.
6.
Oct.
7.
Wed'day. Thursd'y, "Friday.
Oct.
Oct* 9.
Oct. 10.
8,
October—
for
FOR
MIDDLING
COTTON
AT
MARKETS.—Below are the closing
quotations
middling cotton at Southern and other principal cotton
day of the week.
markets for each
Week ending
Oct. 10.
Galveston
New Orleans..
Mobile
Savannah
Charleston
Wilmington...
Norfolk
Baltimore
Philadelphia
Augusta
Memphis.
St.
_.
Louis
Closing Qoutations for Middling Cotton
Sat'day.
11*
13 13-16
133*
13 %
13 %
13%
14%
•
14.45
13%
13%
v
Houston
14 5-16
Little Rock...
13%
13%
13 13-16
13%
13%
13%
13%
14%
14.35
13 9-16
14
on-
\lH
\m
Friday.
14
.
13%
13%
13%
13 11-16
13 9-16
13%
13%
13%
13%
13 9-16
13 3-16
13%
13 7-16
13%
13%
14%
14.15
13%
13%
13%
14
14
13%
13%
13%
13%
13%
13%
13%
13%
14.15
13.95
13%
13%
13%
13%
13%
13%
13%
13%
13 5-16
'
°
,
'
Closing
November—
*
Range
Closing
..
13%
13 9-16
13 3-16
13%
13%
13%
13%
13%
13.95
13%
13%
13%
13%
13%
13.74-.81 13,75 —
13.81 — 13.64-.66 13.43-.45
Ti.43-.44
13.21-.23 13-20-. 22
December—
Range
Closing
Tuesday. Wed'day.
14%
13.71-.89 13.69-.78 13.50-.62 13.38-.49 13.31—.41 13.27-.43
13.83-.85 13.64-.66 13.46-.49 13.45 — 13.30-.34 13.28-.29
Range
QUOTATIONS
OTHER
January—
Range
Closing
February—
Range
Closing
13.64-.86 13.61~.74 13.40-.56 13.28-.44 13.15-.35
13.13-.26
13.81-.82 13,61-.62 13.40-.41 .1340-.41 13.19-.20 13.18-.19
13.67-.87 13.61-.76 13.39-.55 13.27-.44 13.15-.35 13.13-.36
13.83-.84 13.62-.63 13.39-.40 13.40-.41 13.20-.21
13.13-.18
13.85-.87 13.63-.65
i3.4T-.43 Ti.4T-.43
13.22-.25 13.19-.21
March—
Range
Closing
May—
Range
Closing
July—
13.74-.94 13.68-.84 13.47-.63 13.37-.50 13.23-.42
13.20-.44
13.91-.92 13.63-.65 13.48-.49 13.47-.48 13.28-.29
13.25-.26
13.80-.91 13.73-.87 13.50-.67 13.39-.51
13.29-.45 13.26-.51
13.94-.96 13.72-.74 13.51-.53 13.50-.51 13.31-.33
13.28-.29
Range
Closing—-.
13.39 — 13.37-.-—
13.34-.36
Tone—
Spot
Options
Quiet.
Steady.
Quiet.
Easy.
Quiet.
Easy.
Easy.
Steady.
Quiet.
Easy.
Steady.
Steady.
Oct. 11
1913.]
THE
CHRONICLE
WEATHER REPORTS BY TELEGRAPH.—Our reports
by telegraph from the South this evenin g r^ndk&te that the
weather has been favorable
rainfall having been
gathering of the
light
as a
as a
whole
rule in
dujnng^he
week, the
moW localities.
The
every¬
where, and cotton is being freely marketed.
Galveston, Tex.—With favorable weather, farmers are now
pick and gin cotton. New growth caused by rains
will not make cotton unless frost is delayed until late Novem¬
ber.
There has been light rain on two days of the past
week, the rainfall reaching forty-six hundredths of an inch.
The thermometer has averaged 80, ranging from 74 to 85.
able to
,
to
Abilene, Tex.—Rain has fallen on five days of the week,
the extent of forty-eight hundredths of an inch.
Mini¬
mum
Cuero, Tex.—We have had rain on two days of the week,
rainfall being forty-five .hundredths of an inch.
The
averaged 82, the highest being 95 and the
the
thermometer has
lowest 68.
"
.
■
.
'
/
Dallas, Tex.-—There has been rain
precipitation reaching
one
.
on
'
two days of the week,
inch and thirty-four hun¬
The thermometer has averaged 77, ranging from
dredths.
64 to 90.
c
J
Henrietta, Tex.—We have had rain on three days during
the week, the rainfall being one inch and fourteen hundredths.
The thermometer has ranged from 62 to 90, averaging 76.
Tex.—Rainfall for the week, two inches and
forty-four hundredths, on two days.
Average thermometer
77, highest 86, lowest 68.
Kerrville, Tex.—It has rained on two days during the week,
Huntsville,
to the extent of
mometer
has
one
inch and twelve hundredths.
>•"
The ther¬
the highest being 88 and the
averaged 73,
lowest 58. ''
> '
Lampasas, Tex.—We have had rain on two days of the
week, to the extent of fifty-six hundredths of an inch.
The
thermometer averaged 73, ranging from 60 to 86.
Longview, Tex.—It has rained on one day during the week,
the rainfall being one inch and seventy-four hundredths.
The thermometer has ranged from 66 to 88, averaging 77.
Luting, Tex.—Rain has failed lightly on three days of the
week.
The rainfall reached twenty hundredths of an inch.
Average thermometer 77, highest 90, lowest 64.
Nacogdoches, Tex.—We have had light rain on two days
of the week, the rainfall, being thirty-four hundredths of an
inch.
The thermometer h s averaged 76, the highest being
and
88
tho lowest 64.
Palestine, Tex.—'There has been rain on. two days during
the week, to the extent of .twenty hundredths of an inch.
The thermometer has averaged 77, ranging from 66 to 88.
Paris, Tex.—It has rained on, two days during the week,
the rainfall being sixty-six hundredths of an inch
The ther¬
mometer ranged from 64 to 86, averaging 77.
San Antonio, Tex.—There has been rain on two days of the
week, the rainfall being ninety hundredths of an inch.
Average thermometer 78, highest 90 and lowest 66.
Taylor, Tex.—It has rained (showers) on two days during
the week, to the extent of seven hundredths of an inch.
.
Lowest thermometer 66,
'Weatherford, Tex.—There has been rain on two days of the
past Week, the rainfall reaching ninety-four hundredths of an
inch.
to
lowest 52. '
The
thermometer has
84.
•;
#
The thermometer has
Charleston, 8. C.—We have had rain on two days
during
rainfall being four inches and forty-eight hun¬
dredths.
The thermometer has ranged from 59 to 82,
averaging 71.
'
Greenville, S. C.—There has been rain on one day of the
week, the rainfall being four hundredths of an inch.
Average
thermometer 66, highest 85, and lowest 47.
Charlotte, N. C.—We have had rain on two days of the
week, the rainfall being forty hundredths of an inch.
The
thermometer has averaged 68, the highest being 83 and the
the week, the
,
?
lowest 54.
r
•
Lumberton, N. C.—There has been rain on three days of
precipitation reaching six inches and twentyThe
thermometer has
averaged 68,
ranging from 49 to 86.
>
r'
Dyersburg, Tenn.—It has rained on one day during the
week the rainfall being twenty hundredths of an inch.
The
thermometer ranged from 52 to 86, averaging 69.
Memphis, Tenn.—There has been rain on one day of the
week, the rainfall being thirteen hundredths of an inch.
Average thermometer 72, highest 86 and lowest 58.
the week, the
two '
hundredths.
.
.
COTTON CONSUMPTION AND OVERLAND MOVE¬
MENT FOR THE MONTH OF SEPTEMBER—Below we
synopsis of the crop movement for the month
September for three years.
present a
of
1913.
Gross overland for September.
.bales
... _
Net overland for September
Port receipts in September._ —
.
...
Exports in September!.
Port stocks.on Sept. 30
North'n
spinnersrtakings in September..
Southern consumption in September
.
Overland to Canada in September (in¬
cluded in net overland)
Burnt North and South in September—_
Stock at North, interior markets Sept. 30
Came in sight during September—__—
1911.
1912.
20,738
8,100
1,098,161
688,631
619,007
89,764
235,000
21,938
12,141
1,250,549
954,492
428,759
111,125
150,000
3,986
38,133
22,749
1,247,249
815,835
502,530
173,733
260,000
6,059
4,566
17.400
1,668,998
Came in sigh balance of season—
Total crop.__
.....
—
12",945
20,052
1,596,690
1,492,261
12,636,641 14,446,626
14,128,902 16,043,316
—
521.15
526.90
527.28
— _
496.15
501.90
502.28
NEW YORK COTTON EXCHANGE .—Change
of Stand¬
Average gross weigh tof bales....
Average net weight of bales
Types to Be Considered.-—A resolution has been passed
by the Board of Managers of the New York Cotton Exchange
that a committee of seven be appointed by the President to
Consider the question of changing the existing type stand¬
ards, and to report back to the Board at a special meeting
ard
not later than Oct.
averaged 74, ranging from64
WORL
20.
»'S SUPPLY AND TAKINGS OF COTTON.
-wv'
''
Ardmore, Okla.-—We have had rain on four days during
the week, the rainfall being two inches and thirty-four hun¬
dredths. "The thermometer has ranged from 62 to 88,
averaging 75.
Holdenville, Okla.—Rainfall for the week one inch and thir¬
teen hundredths, on three days.
Average thermometer 72,
highest 84, lowest 61.
Alexandria, La.—We have had no rain during the, week.
The thermometer has averaged 76, the highest being 87 and"
.
the lowest 65.
New Orleans, La.—There has been
rain on five days of the
week, the precipitation reaching three inches and forty-four
hundredths.
The thermometer has averaged 74, ranging
from 60 to 88.
,
Savannah, Ga.—There has been no rain during the week.
averaged 72, ranging from 58 to 80.
thermometer 62.
Brenham, Tex.—There has been rain on two days of the
week, the rainfall being seventy hundredths of an inch.
Average thermometer 78, highest 88 and lowest 68.
the
Montgomery, Ala.—We have had no rain'during the week.
thermometer has averaged 70, the highest being 87
••
T *
Selma, Ala.—We have had no rain the past week.
The
thermometer averaged 67, ranging from 52 to 82.
Gainesville, Fla.—It has rained on three days during the
week, the rainfall being one inch and seven hundredths.
The thermometer has ranged from 54 to 90, averaging 72.
Madison, Fla— Rain has fallen on four days of the week.
The rainfall reached fifty hundredths of an inch,
Average
thermometer 75, highest 91, lowest 58.
V
Augusta, Ga.—We have had rain on two days of the week,
the rainfall being twenty-five hundredths of an inch.
The
thermometer has averaged 69, the highest being 85 and the
The
and the lowest 54.
has progressed rapialy^hnost
crop
1053
..."
.
Visible supply Sept. 1.
m sight to Oct. 10.
Bombay receipts to Oct. 9-.—
Other India ship'ts to Oct. 9-—
Alexandria receipts to Oct. 8-1Other supply to Oct. 8*.
Season.
Week.
2,993,247
2,846,267
--
2,135,483
2,055"351
557",117
.
2,484,214
570",394
23,000
,
3,000
645,000
American
90,000
32,000
4,000
2,000
35,400
6,000
'
140,000
38,000
7.Q00
.
2,423,465
27,000
34,000
92,400
38,000
3,481,384
Total supply
Deduct—
Visible supply to Oct. 10
Total takings to Oct. 10 a
Of which American
Of which other..
...
4,839,565 3,611,041
4,750,350
3,128,991
3,128,991 3,343.060
3,343,060
352,393
300,393
52,000
,
,
•/.
Season.
Week.
Visible supply Oct. 3
1912.
1913.
Cotton Takings.
Week and Season.
1,710,574
1,313,574
397,000
267,981
211,581
56,400
1,407,290
1,156,890
•
250,400
*
Shreveport, La.—It has rained on one day during the week,
the rainfall, being seven hundredths of an inch.
The ther¬
mometer has ranged from 66 to 87, averaging 76.
Helena, Ark.—There has been rain on one day of the week,
the rainfall being one hundredth of an inch.
Average ther¬
mometer 74, highest 88 and lowest 60.
Little Rock, Ark.—It has rained on one day during the
week, to the extent of five hundredths of
thermometer has averaged 66, the
lowest 46.
an
inch.
The
past
•
week, the precipitation reaching twenty-five hundredths
eh.
Average thertnometer 74, highest 84, lowest 60.
ALEXANDRIA RECEIPTS AND SHIPMENTS.
Oct.
270,000
693,089
Not
Since Sept. 1
received.
This
Since
Week.
Sept. 1.
4,750
5,750
6,500
400
12,537
10,500
20,523
2,900
2,500
2,750
4,500
10,478
7,789
17,547
1,600
46,460
9,750
37,504
Notre ceived.
:„±.
exports
can tar Is
99 lbs.
Since
Week. Sept.
Continent and India.
To America...
140,000
1.
This
Since
Week. Sept. 1.
To Liverpool
To Manchester.
Note.—A
334,584
17,400
This
Exports (bales)—
Total
1911.
9.
Receipts (cantars)—
This week
To
1912.
1913.
Alexandria, Egypt,
highest being 85 and the
Columbus, Miss.—We have had rain on one day of the
week, to the extent of fourteen hundredths of an inch.
The thermometer averaged 71, ranging from 51 to 91.
Vicksburg, M*** —Rain has fallen on two days of the week,
to the extent of fifty-two hundredths of an inch.
The therlometer has ranged from 63 to 87, averaging 76.
Mobile, Ala.—With good weather the crop is now about
two-thirds gathered.
We have had rain on two days of the
of
Embraces receipts in Europe from Brazil, Smyrna, West Indies', &c.
This total embraces the total estimated Consumption by/Southern mills,
350,000 bales in 1913 and 328,000 bales in 1912—takings not being available
—and the aggregate amounts taken by Northern and foreign spinners,
1,360,574 bales in 1913 and 1,079,290 bales in 1912, of which 963,574 bales
and 828,890 bales American.
6 Estimated.
a
,
Egyptian bales weigh about 750 lbs.
1054
CHRONICLE
THE
INDIA COTTON MOVEMENT FROM ALL PORTS.
Spot.
Saturday.
Market,
1911.
1912.
1913.
Week.
Bombay
Week.
Sept. 1.
23,000
.
29,000
9,000
27,000
Since September
Conti-
Japan
nent.
&China
Great
Contl-
Britain.
Total.
nent.
1.
Good
business
business
Good
Fair
doing.
doing.
inquiry.
business
Mld.Upl'da
7.78
Total.
1,000
2,000
2,000
1912
4,000
2,000
33,000
2,000
5,000
86,000
25,000
11,000
1,000
2,000
120,000
29,000
16,000
1911...
I913i_._
1,000
3,000
1,000
1913...
1,000
5,000
1,000
3,000
5,000
1,000
4,000
1911...
2~66o
2,000
1913...
2,000
1,000
1912...
1,000
2,000
1911
i",66o
21,000
1,000
Quiet
Oct. 4
Sat.
to
Oct. 10.
Mon.
4,000
1912...
1,000
2,000
4~66O
12tf
12H
p.m.
p.m.
p.m. p.m.
d.
2,000
116,000
3,000
57,000
3,000
6,000
3,000
47,000
5,000
d.
/
31H 37
152,000
Nov.-Dec.
24
29
63,000
55,000
Dec .-Jan-
22
28
Jan .-Feb.
21^ 27 33
21
Mar
MANCHESTER
7,000
4,000
2,000
3,000
21
MARKET.—Our report received by
cable to-night from Manchester states that the market con¬
tinues quiet for both yarns and shirtings.
Spinners are
considered
to
hold
stocks
small
of
We give
cotton.
the
prices for to-day below and leave those for previous weeks
of this and last year for comparison,
1913.
Apr .-May
1934
May-June
18
I ?8
8*
16
22
.-Apr.
June-July
July-Aug_
Aug.-Sep
Sep .-Oct
H
133*4 2033
9433 03
6 68
7633
6 59
6733
6
_
_
Oct.-Noy,
4
d.
49
44
_
Feb.-Mar.
1911
34,000
Easy
9@1134
1@334 Pts.
34@ 134
decline.
pts. dec.
at
3@3>4
dec.
pts.
Weak
Thus, 7 44
Tues.
12H
Oct .-Nov.
,
advance.
pts. dec.
decline.
434@5 pts.
decline.
Quiet
Quiet.
The prices of futures at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
October.
1,000
500
Quiet
6@7 pts.
34
pts. dec.
to334p.adv
500
1,000
Quiet
Quiet
Barely st'y
234 pts.dec. 534@7 pts.
(?1234
32,000
30,000
Total all—
1913...
4 34 @5
advance.
pts. dec.
23,000
30,000
1,000
28,000
1,000
1,000
2,000
2,000
2,000
3,000
1,000
1,500
Quiet
The prices are given in pence and lOOlhs.
All others—
f
500
clause, unless otherwise stated.
1,000
Madras—
1912...
8,000
below.
3,000
3,000
1911...
7.52
8,000
4,000
4,000
3,000
1912
7.65
10,000
decline.
P. M.
Calcutta—
>*"
\
10
1,000
7.63
8,000
1,000
Market,
Bombay—
1913....
7.70
10,000
Easy
Steady
12@13 pts. 734 @9 pts.
opened.
China
7.83
8,000
Futures.
Japan
&
Friday.
inquiry.
Sales
Market
Great
Britain,
Thursday.
doing.
Spec.&exp.
For the Week.
Exports
from—
Fair
doing.
Sept. 1.
Week.
Sept. 1.
4,000
90,000
Wednesday.
Fair
Since
Since
Since
Tuesday.
xcyii..
business
■
P. M.
Receipts at—
Monday.
Fair
12:15
■
October 10.
[Vol.
12331
4
p.m.\p.m.
d.
1234
Thurs.
1234
4
Fri.
123d
4
4
p.m. p.m. p.m. p.m. p.m.p.m.
d.
4133 36
2933 24
7 44-100d.
means
Wed.
d.
d.
d.
3434 28j4 23
17 33 1134
22
16
0934 04
21
15
14
09
0334
14
09
2033 15
0334
20 34 15
09
14
0334
20 33 1533 14
09.
0334
08
03
1933 1433 13
19
07
02
1333 12
17
12
1033 0434 99.34
08 34
15
10
97
97 33 94
92
37
81
66
62 * 57
7133 67
57
52
47
6233 58
!!*
d.
d.
d.
31
2034 1734 19
0834 07
0734
99
1134 0034 99
1034 00
RR^ 9934
99
11
0034 99
11
99
0034 99
19
11
RR^
1034 00
10
99
99
99
RR^ r934
97
0734 97
05
8934
84*
79
66
56
56
45
■
9934 99
96
9434 9334
7934 7734
5634 54.34
45
4334
1912.
BREADSTUFFS.
834 lbs. Shirt¬
834 Ibs.Shirtings,
32« Cop
Mid.
32s Cop
Upl't
Com
ings, common
com
Mid
Twist.
Twist.
to
common
finest.
to
Friday Night, Oct. 10 1913.
UpVt
finest.
Flour
a.
d. a.
d.
d.
8.
d.
d.
d. 3.
d.
d.
d.
b.
9 x
@
10 H 6
29
934
@
1034 6
6
6
6.62 934
3
@11
4
@11
@
7.00 934
034 ©11 4
1
@11 5
@
@11
6.40
1
7.35 934
@
1034 6
2
1
6.62
7.39 934
@
1034 6
234 @11 2
6.75
®
11
6
3
@11
3
6.79
7.85 9 13-16®
1034 6
2
@11 2
6.59
7.87
@
1134
1134 6
10 x
@
1134 6 434 @11
103j
7,157
26
1034
5
1134
@11
2
6.60
10
@
1034
19
6
*@11 4
3
9
1034
12
1134
1094 6
1034 6
10
@11
Oct.
3
1034
10
1034
9
@
m
1134 6 434@11 11
U34 6 4
@11 9
as a
rule, been comparatively quiet, but towards
the end of the week
Aug.
22
has,
with
@
1034 6
1
@11
134
from hand to mouth.
that there is at least
1034 6
1
@11134
6.30
In not
a
on
a
previous
the
page,
exports of cotton from the United States the past week have
reached 203,871 bales.
The shipments in detail, as made
up
from mail and telegraphic returns,
follows:
are as
That
would
mean
the duty on
remove
that
buyer
better market to buy
a
doubt whether the Canadian
650
2,496
'
,,
852
35,249
15,063
10,402
1,270
350
2,572
2,881
1,600
14,500
2,092
2,773
6,550
15,629
60
19,301
5,500
3,599
2,375
9,154
8,694
11,642
—
—
-
— —
—
—
2,788
200
—
500
—
3,050
203,871
-
LIVERPOOL.—By cable from Liverpool we have the
following statement of the week's sales, stocks, &c., at that
port:
Sept. 19. Sept. 26.
48,000
11,000
1,000
27,000
2,000
63,000
..451,000
281,000
63,000
20,000
178,000
133,000
-
Actual export
Forwarded
-
Total stock—Estimated
Of which American
A
Total imports of the week.
Of which American
Amount afloat
Of which American
46,000
2,000
1,000
24,000
2,000
80,000
449,000
274,000
78,000
56,000
220,000
187,000
Oct. 3.
•
Oct.
64,000
6,000
1,000
38,000
3,000
10.
54,000
.
2,000
2,000
37,000
3,000
76,000
74,000
411,000
404,000
242,000
70,000
59,000
246,000
40,000
26,000
360,000
320,000
403,000
350,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily
closing prices of
spotlcotton haveibeen
as
follows:
They have
an
idea that wheat is going lower
The
week at Minneapolis, Duluth and Mil¬
470,065 barrels, against 475,085 in the previous
last
was
week and 478,000 last year.
Wheat declined under the
influence of heavy receipts.
tendency to increase the crop estimates.
At the
same time there has been very heavy liquidation.
The bull
side is less popular.
There has been some talk to the effect
that Russian, East Indian and even Chinese wheat may in¬
vade the Pacific Coast markets, and that Argentina may re¬
move its own duty and therefore also have a chance to send
wheat to American markets.
In other words, wheat mer¬
chants are living in strange times.
Also the world's ship¬
ments have been large.
The total last week amounted to
14,160,000 bushels, against 13,888,000 in the previous week,
There is
a
with
14,688,000 last year. Foreign markets have been de¬
clining.
In fact, there has been a general disposition to
sell
50
—
—
Of which speculators took
Of which exporters took
Sales, American
production
waukee
Not
duty question, but they also prefer to watch the
and that it would be worth while to wait until it does.
month
>
*
Sales of the week
the
9,083
^
3—Schaumburg, 5,500
7:—Delphine, 3,599—
To Genoa—Oct. 7—Delphine, 2,375
BRUNSWICK—To Bremen—Oct. 3—Anglo-Canadian, 9,154
CHARLESTON—To Bremen—Oct. 6—Cayo Domingo, 8,694
WILMINGTON—To Havre—Oct. 4—Aboukir, 11,642:
BOSTON—To Liverpool—Oct. 2—Michigan,' 1,179—Oct. 3
Devonian, 1,109
Oct. 7—Cymric, 500--'--*.
PHILADELPHIA—To Liverpool—Oct. 3—Dominion, 651—
To Antwerp—Oct. 9—Manitou, 200—
To Genoa—Oct. 2—America, 500
PORT TOWNSEND—To Japan—Oct. 7—Tamba Maru, 3,050-iTotal.
oh
are some
2,393
— — -
In the
wheat market.
1,643-i-Oct. 7—Gresham,
—
others who
buyers disposed to await the action of Canada
'
-
To Ghent—Oct.
are
duty will be removed.
only
— —
To Barcelona—Oct.
give the American
Yet there
uncertainty trade undoubtedly suffers.
—.
To Rotterdam—Oct. 8—Javorina, 50-
on.
300
2,696
744
—
—
Canadian
That would let in Canadian
6,201
Adriatic, 2,380 upland, 2,483 Peruvian..
^To Havre—Oct. 4—La Touraine,„300- —
To Bremen—Oct. 3—George Washington, 2,696-.-.To. Antwerp—Oct. 3—EIonian,200—-Oct. 7—Lapland, 544-.
To Libau—Oct. 4—Czar, 650
..a.—
To Genoa—Oct.
3—Perugia, 207: Prinzess Irene, 1,170
Oct. 6—Moitke, 769—-Oct. „8—Carpathia, 350—.
—
To Naples—Oct. 3— Perugia, 2: Prinzess Irene, 300—.:Oct. 6—
Moltke, 100—Oct. 8—Carpathia, 450
_•
;
GALVESTON—To
Liverpool—Oct.
3—Craftsman,
15,017
Oct. 7—Dunstan, 6,935—Oct. 8—Commodore, 13,297
To Manchester—Oct. 8—Ventura de Larrinaga, 15,063—.
To Bremen—Oct. 3—Altair, 10.402
To Rotterdam—Oct. 3—Hyndford, .1,270
1
*
To Antwerp—Oct. 4—Wray Castle, 350
To Ghent—Oct.'4—-Wray Castle, 2,572
To Barcelona—Oct. 7—Conde Wilfredo, 2,881
To Mexico—Oct. 8—Alabama, 1,600NEW ORLEANS—To Liverpool—Oct. 10—Victorian, 14,500——
To Belfast—Oct. 3—Ramore Head. 2,092
To Genoa—Oct. 10—Dora Baltea, 2,773—
;
To Mexico—Oct. 10—Aguella, 1
MOBILE—To Bremen—Oct. 4—Copenhagen, 6,550
SAVANNAH—To Liverpool—Oct. 3—Parkgate, 8,892. —.Oct. 4—
Tafua, 2,018—Oct. 8—Siversand, 4,719-—-—
To Manchester—Oct. 8—Silversand, 60
To Havre—Oct. 4—Reapwell, 6,733.--Oct. 7—Gresham,
7,303
Oct. 9—Inca,5,265j,
___•
To Bremen—Oct- 4—Bankfield, 4,568—-Oct. 8—Javorina,—
American wheat;
the retaliatory duty on
wheat and flour to American markets and
NEW YORK—To Liverpool—Oct. 3—Carmania, 1,338...Oct. 8—
—
Yet
midst of this
Total bales.
4,515
To Hamburg—Oct. 4—Bankfield,
750
reported,
cases.
few instances they contend
a
markets would be removed also.
SHIPPING NEWS.—As shown
was
some
possibility that in January the Cana¬
6.32
@
rather better business
buyers still adhere to the policy of purchasing only
many
dian Parliament will
934
7.52 9J4
a
spring patents at $4 25 in jute in
wheat
both
prices
at
home
and
abroad.
Within
at
Budapest have declined some
to favorable crop conditions, though
a
12%
owing
more
recently there was a rally of 3% cents in what looked like a
temporarily oversold market.
Arrivals at Russian - ports
are
large, favored by fine weather.
Beneficial rains in
Argentine have caused a pressure to sell March wheat at
Buenos Ayres.
This has reacted on Liverpool prices.
The
seeding of new wheat is proceeding in Germany under favor¬
able conditions.
What with big domestic receipts and the
danger of Russian, Manchurian and East India wheat
being shipped to the Pacific slope and of Argentine wheat
entering the Atlantic markets of this country the bull side
is being abandoned by many.
It is said that Russian ship¬
ments to this country under the new tariff are likely to
reach an important volume.
Furthermore, there was quite
a
large
increase
in the visible supply, which took
some
people
by
surprise.
The
increase amounted
to
3,025,000 bushels,
against 1,027,000 in the same
time last year.
On the other hand, wheat is in a better
technical position than it was recently, when pretty much
everybody
as long.
Some do not believe that the ship¬
ments from Russia and the Far East to the Pacific markets
cents,
large.
The United Kingdom is not getting its
just now.
Drought is complained of in India,
and holders are very firm.
France is still buying foreign
wheat, and conditions for the new crop in that country are
said to be unfavorable.
Supplies of native wheat in Ger-
will be very
full supply
Oct. 11
1055
CHRONICLE
THE
1913.]
small. The tendency is to increase the short in¬
materially at home and abroad.
The result may be
a sudden rebound of prices at any time.
The export trade
has increased on the decline.
Last Monday, it is said, that
something over 900,000 bushels were sold for export.
The
latest Government report puts the yield of spring wheat at
242,714,000 bushels, as against 330,348,000 last year and
190,682,000 in 1911.
The crop of winter and spring amounts
to 753,233,000 bushels, against 730,267,000 last year and
621,338,000 in 1911.
To-day prices were higher in sympathy
with a rise in corn and better buying at Chicago,
many are
Preliminary estimates of production have been made as follows:
—Yield per Acre—
Production (000 omitted)
1912 1908-12
1912
1911
Avge.
1913.
Final.
Final.
Bush. Bush. Bush.
Bush.
Bush.
Bush.
terest
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YORK.
Sat.
Mon.
Tues.
96
95
96
94 %
97%
95%
97%
95
97%'
December delivery in elevator
94%
98%
97%
98%
98%
98
98%
No. 2 red
^
cts.
—
-.
Wed.Thurs.
wheat
All
17.2
13.3
242,714
330,348
190,682
15.1
15.9
37.4
15.2
14-5
29.7
510,519
753,233
1,122,139
399,919
730,267
1,418,337
Oats
430,656
621,338
922,298
173,301
34,789
223,824
35,664
Tons.
Tons.
—
23.9
-16.3
OF WHEAT FUTURES IN CHICAGO.
Sat. Mon.
Tues. Wed. Thurs. Fri.
December delivery in elevator.cts. 86%
86
86%
86%
86%
86%
May delivery in elevator
91%
91%
91%
91%
91%
91%
„
Indian
has declined, partly in sympathy with wheat
corn
partly owing to
have weeded out
heavy liquidation.
very
Margin calls
good deal of the scattered long interest.
Trading of late has been
a
The cash demand has been slow.
comparatively small,
operators have been in
as
quandary.
a
24.5
16.2
Tons.
Tons.
tame...w--..—1.31
•
,
Corn—
Illinois....
.--
Iowa
Nebraska
,
—
Kansas..
—-
Texas...
Oklahoma
Indiana...
—
Georgia
Sat.
corn
CLOSING
DAILY
Mon.
nom.
—
OF
PRICES
CORN
Sat.
October delivery in elevator—cts.
December delivery in elevator—..
69%
68%
May delivery in elevator..
Wed. Thurs. Fri.
nom.
nom.
FUTURES
Mon.
nom.
3.4
Kentucky...
Tennessee
3.1
3.0
-—
68%
68%
68% '
68%
71%
70
Short selling has also been
liquidation.
—
Minnesota
South Carolina
OF OATS IN NEW
Mon.
—.——
85
79
70
99
85
75
84
78
84
75
84
84
80
83
82
87
78
71
95
86
85
73
85
85
1.8
84
80
94
78
80
82
83
85
2.2
1.9
+
Louisiana
—
Michigan
Wisconsin.:
— -
Pennsylvania
65-3
—100.0
States
United
82
85
82
80
84
94
-
+
.
81
84
65.1
80.6
82.2
breadstuffs to market
prepared by us from figures collected by
the New York Produce Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
The statements of the movement of
indicated below
are
Wheat.
Flour.
at—
Oats.
Corn.
Barley.
Rye.
.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu.56 lbs.
68%
71%
69%
71%
pres-^
a
Tues.
600,000
140,000
•:
4,137,000
3,407,000
126", 606
83,000
Kansas City.
475,000
125,000
22,000
375,000
20,000
410,000
31,000
17,000
259,000
360,000
395,000
Omaha
203,000
440,000
Minneapolis.
Toledo
Detroit.
...
"7", 000
_
12,000
71,000
20,000
Cleveland-..
Louis
St.
Peoria
...
-
_
wk. '13
443,000
10,001,000
442,929
326,05S
10,590,649
98,489,000
99,966,252
64,863,163
39,648,000
1,697,000
1+066
82", 606
•
75,000
11,000
4,088,000
2,892,457
3,378,510
5,501,000
6,814,957
3,822,706
2,545,482
3,982,000
3,360,658
3,213,360
775,000
30,000
542,000
211,000
275,000
455,000
3,663,764
8,157,809
Same wk. '11
602,000
,
50,000
4,304,000
Same wk. '12
Tot.
102,000
80,000
60,000
227,000
2,000
857,000
2,009,000
344,000
661,000
879,000
45,000
2,453,000
227,000
245,000
88,000
Chicago
Milwaukee..
496,000
652,843
367,922
1
Since Aug.
1913
1912
34,065,569
64,957,000 22,370,000 4,450,000
57,087,365 15,627,380 4,696,698
32,560,901
39,490,228 20,772,657 2,487,122
YORK.
Wed.
Fri.
Thurs.
cts_46-46% 46-46% 46-46% 46-46% 46-46% 46-46%
46%-47 46%-47 46%-47 46%-47 46%-47 46%-47
Standards.
No. 2 white
81
81
2.6
2.5
2.3
1.9
1911.
Sat.
59
65
78
1.4
Arkansas
corn.
DAILY CLOSING PRICES
,80
80
1-5
South Dakota
Receipts
feature.
The cash trade has not been brisk.
The French crop will
be 390,000,000 bushels, according to the official estimate,
as compared with 370,000,000 bushels last year.
The mar¬
ket is in an unsettled condition and as usual responds readily
to the influence of price movements in other grain.
The
Government estimate of the crop in the final figures is 1,122,139,000 bushels, against 1,418,337,000 last year and 922,298,000 in 1911.
To-day prices declined on the bearish
Government report as above noted, but rallied later in
sympathy with
81
3 0
,
North Carolina.
68%
Oats, like other grain, have been weaker under the
of
66
78
*
87
■
86
85+
86
86
1.5
Mississippi
Duluth—...
sure
86
84
41
78
39
81
Wed. Thurs. Fri.
70%
„
74
90
89
82
60
+
1913#
62
76
37
10
nom.
CHICAGO.
IN
Tues.
68%
68%
70%
...
Tues.
nom.
87
3.7
—
•
80
3.8
-
Ohio!
Sept.I
.
—
of 155,000 bushels.
With speculation slow and the cash
light, the market has been devoid of striking incidents.
The average trader is in a waiting attitude.
The corn crop,
according to the latest figures, is officially put at 2,373,000,000 bushels, against 3,125,000,000 last year and 2,531,000,000 in 1911.
To-day prices advanced on the bullish Govern¬
ment report, wet weather and small receipts.
Two cargoes
of Argentina corn have been bought for shipment to Galves¬
ton at 72 cents, c.i.f.
• -rv '
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
Condition Oct. 1—
10- Year
Average.
84
82
+
78
69
80
73
67
85
+
1912.
86
91 \
77
72
84
-75
63
89
—
Virginia
trade
Tons.
1.38
"\+ :r++ ,V:";
Alabama .1
Cash
1.47
P.C.of U. S.
-——
Acreage
*
instate.
1913.
--'9.9
61
9.3
77
7.1
39
6.9
10
6-9
44
6-6
78
4.8
38
4.6
80
"
'
They hardly know what to do and under the circumstances
have been simply trading in and out until they could get their
hearings.
The receipts have been decreasing, but the cash
demand is trifling.
The visible supply increased last week
780,000 bushels, as against a decrease in the same week last
year
160,240
33,119
.
63,460
72,691
54,916
The quality of spring wheat this year is 92, against 88.7 in 1912.
The
10-year average is 86-9.
The quality of oats this year is 89.1, against 91
in 1912.
The 10-year average is 87.1.
The quality of barley this year is
86.4, against 86.2 in 1912 and a 10-year average of 87.
Details for im¬
Hay,
Missouri
and
29.7
16.8
Tons.
Barley
Rye
portant States follow:
Fri.
CLOSING PRICES
DAILY
13.0
—16.5
15.2
.29.3
Spring wheat
Winter wheat
98%
95%
May delivery in elevator
1913. Final.
Crops—
...„
Total receipts of flour and grain at
the week ended Oct. 4 1913 follow:
the seaboard ports for
'
FUTURES IN CHICAGO.
Mon.
Tues. Wed. Thurs. Fri.
40%
41%
40%
41%
41%
44%
44%
44%
44%
44%
Sat.
December delivery in elevator.cts- 41%
May delivery in elevator
44%
i
■
The following are closing quotations: '
York.
—
Boston
Winter
3 80®
clears
4 15
4 40® 4 60
4 15® 4 40
Spring patents
Spring straights-
Graham flour.
10@$4
15@ 4
75® 4
95® 6
50® 3 90
3 80@
Standards
_
$0 96
94
98%
95%
cts.
46 @46%
*
No. 2, white
No. 3
46% @47
45% @46
4 60
%
Corn,
:
No. 2
elevator Nominal
2, yellow
„
79%
8,000
+
-
-
-
-
16,000
l-w-
-
-
-
""
1,000
-
-
-
—
—
5,000
31,000
Mobile
Montreal
—...
*
,
-
OCTOBER RE¬
as
follows:
Condition
UNITED
1913.
Oct.
"Corn
65.3
Buckwheat
1
Cond.
or
Acreage, 1913—
Plax
80.6
84.2
—
89.2
67.7
85.1
.76.6
74.7
81.8
Corn,
New
bbls.
Philadelphia
76.4
46.6
Apples.
89.2
67.8
100.0
69.9
74.5
54.1
85.1
88.0
841,000
3,685,000
1,144,500
2,425,000
821,100
93.4
74.9
99.3
114-0
47.7
yields indicated by the condition of
— -
crops on
Oct. 1 1913, or at time
•of harvest, and the final yields in preceding years, for comparison, follow:
Total
Production
in
Millions
Yield per Acre, Bush.
*1913.
4?orn
22 2
d912
Final.
29.2
*1913.
inProspects
Final.
21.0
26-5
2,373
96.1
822.3
319
877
963
8.7
9.8
8.2
21
28
30.9
34.7
33.7
25
25
ice
-----
♦Interpreted from condition reports.
2,000
742,000
Mobile—
Rye,
Barley,
Peas'
bush.
bush.
297
22,707
80,296
11,860
16,000'
6,913
20
25,829
1,000
42,000
8,000
16,000
5,000
4,000
......
Montreal
bush.:
121,000
85,000
7,680 207,069
144,727
22,463 163,826 1,827,069
25,829
85,000
78,836 137,991
20,000
851,000
1,000
...
14
Total week
4,755,617
1912......3,728,153
The destination of these exports
July 1 1913 is
as
—
since
*
Week
July 1
Oct. 4.
Oct. 4.
bush.
1913.
bbls.
July 1 to—
Corn
Wheat
Flour
Since
United Kingdom.
for the week and since
below:
Week
Exports for week and
bbls.
Since
Since
Week
July 1
1913.
Oct. 4.
bush.
bush.
1,377,465 2,126,877 26,730,938
49,975
772,626 2,600,240 33,316,233
305,292
28,500
326,636
30,304
Sou. & Cent. Amer.
Indies—
24,336
Brit. Nor. Am. Cols
110
18,242
438,792
1,300
6,180
200
29,814
20,000
41,078
Other Countries
July 1
1913.
bush.
151,270
102,344
_
297
1,639
438,348
269,241
570,692
3,221
6,183
Dur'g Sept.
22.9
lax
Dec
1911
Final.
113.4
785.5
"
or
1912
Avge.
16.5
hite potatoes...
200
News..
Galveston
West
Inc.
1908-12
86.7
obacco, lbs......766.0
.buckwheat
....
Orleans....
Continent
of
Bushels
Crops—
•1,480
570,368
98,000
884,547
224,000
Baltimore........
Acres.
106,884,000
99.8
75.4
78-5
87-5
foreign ports
bush.
Oats,
Flour,
bush.
Boston.
Week
P. Ct.
of 1912.
65.1
83.1
83.8
80.3
Rice
The
82.2
Sept. 1
10-yr. Av. 1913.
.65.9
Potatoes
Tobacco
1912.
25,000
2540,000
13,699
481,494
STATES.
—at Time, of Harvest—
Crops—
184,000
are
'
bush.
York......1,385,702
Norfolk...
THE
-----
■
from the several seaboard ports for the wOek
shown in the annexed statement:
ending Oct. 4
Newport
The Crop Reporting Board of the Bureau of Statistics of the United
States Department of Agriculture estimates, .from ,the reports of the
•correspondents and agents of the Bureau, as follows:
FOR
-
Receipts do not include grain passing through New Orleans for
New
:
•
-----
-----
1913.
The exports
Nominal
'70 @75
PORT.—-The report of the Department of Agriculture for
Oct. 1 respecting cereal crops in the United States was issued
Oct. 9
,
-----
-
20,000
Wheal,
on
—
*- -
through bills of lading.
on
State and Pennsylvania.
Barley*—Malting
2,000
3,000
20,000
•'
-
1,000
443,000
4,573,000
209,000
729,000
191,000
1913.16,783,000 141083,000 44,994,000 42,567,000 16235000
1912.
391,384
5,268,962,
474,762
3,557,425
186,811
"Since Jan. 1 1912.13,131,070 99,205,456 28,194,414 49,679,357 3683,664
Total week
70
2
DEPARTMENT'S
----
1,000
1,341,000
Exports from—
AGRICULTURAL
-
2,000
4,000
13,000
Galveston
\
Rye, per bushel—
No.
59,000
News..
Norfolk
50,000
bush.
Total week
elevator Nominal
—
Steamer—
Newport
32,000
Rye,
bush.
6,000
451,000
41,000
111,000
43,000
62,000
105,000
Since Jan. 1
bushel—
per
No.
40
40
00
25
Barley,
Oats,
bush..
bush.
bush.
1,671,000
429,000
343,000
764,000
12,000
41,000
—
New Orleans *■.__"
Spring clears
L_$4
Kansas straights, sacks. 4
Kansas clears, sacks
3
City patents
l
5
Rye flour
4;
3
grain.
Wheat, per bushel—f. o. b.
N. Spring, No. 1
N. Spring, No. 2
Red winter. No. 2
Hard winter, No. 2 new.
Oats, per bushel, new—,
....
Baltimore
FLOUR.
Winter, low gradas—.$3 10®$3 50
Winter patents.
4 80® 5 00
Winter straights.4 20®. 4 35
bbls.
223,000
38,000
37,000
Receipts at—
New
Philadelphia
"
Wheat,
Flour,
DAILY CLOSING PRICES OF OATS
Corn,
3,125'
2,531
18
293
905
19
19
421
23
'
+0.9%
+6.7%
—1.8%
+1.9%
+5.0%
—7.4%
...207,069
Total
Total
1912
The
2,965,067 4,755,617 60,412,049
2,178,220 3,728,153 35,253,932
7,680
22,463
1,438,955
794,212
shipments of wheat and corn for the week
4 1913 and since July 11913 and 1912 are shown
world's
ending Oct.
in
...163,826
the following:
'
" '
1056
THE
Wheat.
Exports.
1912.
Since
Since
Week
Oct. 4.
July 1.
July 1.
Oct. 4.
July 1.
Bushels.
Bushels.
Bushels.
Bushels.
North Amer. 7,416,000
83,066,000
39,726,000
6,436,000
8,610,000
9,544,000
21,048,000
Russia
4,330,000
888,000
430,000
Australia...
440,000
India..
384,000
Danube
Argentina...
Oth. countr's
272,000
2,106,000
53,346,000
56L006
37,043,000
400,000
20,500,000
22,034,000 5,415,000
6,560,000
26,152,000
2,606,000
14160000 170,536,000 168,246,000 6,376,000
1.
July
205,000
V, ;
V.:
4,464,000
7,825,000
83,084,000
'■
■
United
Bushels.
Continent.
Total.
Bushels.
Btishels.
Continent.
Kingdom.
Bushels.
Bushels.
Bushels.
visible
The
supply of grain, comprising the stocks in
principal points of accumulation at lake and
seaboard ports Oct. 4 1913 was as follows:
at
v'
STATES
GRAIN
Amer. Bonded
Amer.
Wheat. Wheal.
■
:
STOCKS.
Amer. Bonded
1,304
Oats.
Oats.
bush.
bush.
bush.
bush.
bush,
bush,
807
23
11
1,274
283
11
28
43
50
56
2
2
457
361
134
"l5
71
146
147
860
98
483
America^_..........w....^ 1,427
2,545
Philadelphia
Baltimore....
Orleans....,
23-
127
148
Detroit
930
l",638
1,366
50
935
.
.......
I.
Chicago...
.
.
.
.
66
176
52
4,328 14,396
187
660
9,798
-
afloat.......
68
"574
10,834
"38
2,273
8,517
221
3,124
1,479
407
84
260
9,391
St. Louis..
Kansas City
Peoria...-.....—....
235
156
67
331
2,065
374
1,786
768
37
117
On Canal and River...
Total Oct.
4
328
2,284
25
684
9
"246
"39
1,549
1,391
1,103
3,967
4,509
2,708
629
3,424
1913—52,061
1,198
407
5.1912—32,685
7 1911—56,698
Total Oct.
2?3
1,648
495
467
47
CANADIAN GRAIN STOCKS.
Canadian Bonded
Canadian
Bonded
Wheat. Wheat,
In Thousands-
bush.
Montreal
1,084
Ft.William & Pt. Arthur 8,062
Other Canadian
2,275
.
Corn.
Oats.
Oats,
bush.
bush.
bush.
24
bush.
750
;
3,124
2,400
■....
......
4 1913—11,420
Total Oct.
Total Sept. 27 1913—
Total Oct.
5 1912..
Total Oct.
71911—
24
9,116
4,275
5,455
394
Canadian
10S
.48
25
Bonded
Rye. Barley. Barley,
bush.
bush.
22
468
22
66
10
2,846
67
31
Bonded
Canadian.
Oats,
Oats,
bush.
bush.
bush.
bush.
bush.
bush.
bush.
1,198
8,149 31,7.18
495
1,549
3,967
108
.22
468
24
11,420
6,274
Rye. Barley, Barley,
1,198
8,173 37,992
495
1,571
4,435
Total Sept. 27 1913—58,132
Total Oct,
51912-36,960
407
7,369 36,691
467
1,457
4,828
273
2,977 10,460
5.535 24,118
47
1,113
2,775
3,455
THE
DRY GOODS
New York,
629
TRADE.
During the past week cotton goods have ruled less active,
w thout
any weakening in prices.
The quieter tone has
been due more to the inability of selling
agents to nieet the
deliveries required than to any falling off in demand.
A
sharp reaction in the cotton market has caused buyers to
become more conservative regarding their
requirements for
any distance ahead, but has had no effect as yet
upon the
price of finished goods.
It is not likely that the raw material
situation could have, any effect upon prices
during the im¬
mediate future, as the pronounced shortage of
spot supplies,
in face of an urgent demand from all sources for
immediate
delivery to fill out stocks which should have been completed
jnonths ago, will likely keep prices up regardless of other in¬
fluences.
Manufacturers and selling agents have
steadily
warned buyers ever since the beginning of the tariff
legisla¬
but
beyond actual
effect, as there is now
urgent demand for all descriptions of staple cotton goods
nearby delivery at prices which are the
highest of the year.
So far as business for any distance ahead
is concerned, very little is being
done, for reasons which are
an
for immediate and
obvious.
to
First, manufacturers
what effect the
new
are
Bleached
in
very
muslins, colored domestics
light supply, and with mills well
are on the anxious seat as
tariff schedules will have after
the
end of the year and are holding most lines at
value, even then
being willing to accept contracts fr any large volume.
not
Secondly, buyers are not inclined to enter into future con¬
tracts at present prices, when, as
they believe, there is every
prospect of lower prices after the end of the year.
The re¬
'■
^
^
sult of this state of affairs is that demand will, for
the most
now until next spring be entirely for
spot goods
they are needed, with probably a continued scarcity of
supplies and high prices.
Export business continues light
consisting only of moderate shipments against standing or¬
"
v
as
Importations & Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry.goods
at this port for the week ending
Oct. 4 1913 and since
Jan. 1 1913, and for the corresponding periods of last year,
were as
follows:
\
.
.
,
Import entered for
Consumption
for the Week and
Week
,
'
Oct. 4 1913.
•
Pkgs.
•»,
4
Manufactures of
1,038
4,748
10,026
1,428
1,124
—
:
Silk--—
Flax
-
Miscellaneous
Total
Total
1,343,190
2,569,937
549
Cotton—
1913—
1912---
—
—
—
-
:
609
Since Jan. 1
Value.
S
140,213
A07.122
-498,565
149,111
148,179
.
Wool—
Since Jan.
1.
Ending
Pkgs.
1913.
Value.
S
•
24,823
103,504
58,678
62,597
91,145
6,165,958
29,363,027
26,171,379
14,209,293
9,102,305
341,747
401.420
85,011,962
92,219,334
Warehouse Withdrawals Thrown Upon the Market.
Manufactures of—
Wool
713
152,675
14,751
3,612,900
Cotton
495
285
72,877
28,495
9,215
23,193
73,972
2,869
4,748
535,295
1,343,190
341,747
296
-
Miscellaneous
Total
150,279
100,557
58,907
1,080
-
Silk
Flax
—
withdrawals.
Entered for consumption
149,626
8,362,379
3,597,967
4,873,614
4,023,354
24,470,214
85,011,962
Total marketed
1913
7,617
1,878,485
491,373 109,482,176
191213,203
3,157,276
585,007 114,494,378
Imports Entered for Warehouse During Same Period.
Manufacutres of—
Total marketed
712
Wool.
Cotton
Silk
1,860
1,124
134,263
448,028
223,293
470,130
184,474
21,972
37,927
11,039
31,591
92,159
5,997
1,460,188
4,748.
-
1,343,190
194,688
341,747
1,756
545
-
Flax
Miscellaneous------
part from
as
wear
Reductions in prices, however, have not
sharp as many buyers had expected.
As regards
new business, demand for linens for quick
shipment has been
rather quiet, but, on the other hand, according to reports,
there have been liberal bookings for the next spring season.
Burlaps have ruled quieter, so far as new business is con¬
cerned, as merchants have been busy taking goods from ware¬
houses.
Under the new tariff prices are nominally quoted
at 6.40c. "for light-weights and 8.25c. for heavy-weights.
Friday Night, October 10 1913.
tion that there would be little or no production
orders booked, but seemingly without
other lines.
ginghams
been
25
1911—62,153
actual short¬
FOREIGN DRY GOODS.—Pressure of business due to
the new tariff has kept linen markets very active during the
48
7
an
*
108
Total Oct.
That
week just closed.
4 1913..63,481
Total Oct.
two
certain lines.
Bonded
Corn.
bush",
52,061
American
tariff.
moderately active, though purchases are confined for the
most part to nearby deliveries.
A fair business has been
done, however, in spring goods.
The trade is still more or
less unsettled as the new tariff on woolen goods will not be
effective until after the first day of January 1914.
Activity
continues in dress goods with many jobbers oversold on
319
904
Bonded
Wheat. Wheat
new
is
SUMMARY.
In Thousands—
result of the
.
.....
468
5,293
-
as a
WOOLEN GOODS.—Business in markets for men's
bush.
....
6,274
7
21
13
100
8,149 31,718
7,362 31,398
2,946
9,556 •
5,141 21.272 '
316,345
many
50
Total Sept. 27 1913—49,026
Total Oct.
8^803
buyers more conservative.
Duck remains firm, with the
tendency upward, advances having been named daily on
different numbers.
Demand for fancy cottons is reported
as improving, and it is
expected that there will be a good re¬
order business for spring delivery.
As regards blankets,
canton flannels and flannelettes,
many mills are sold up and
have nothing to offer at present.
Print cloths have ruled
quieter and steady.
Although there are many buyers still
unsupplied, in view of the easiness of raw material they are
less willing to pay the liigh prices asked.
Gray goods,.38 Yy
inch standard, are quoted at 5^ to 5%e.
340
340
91
On Lakes
79
375
Omaha.
107
10
.
1,867
2,616
Indianapolis
54,601
23,140
42,070
23,142
.35,539
2,541
16,722
55,909
57,722
sold ahead there is little likelihood of
any lowering of values,
at least for the present.
Easiness in the market for raw
material during the past week, however, has made
989
313
Duluth
Minneapolis..-.
or
and
280
....
Milwaukee
255^305
countries
16
164
1,877
Toledo
.
1
....
16
"
Buffalo
bush.
550
133
667
Galveston
Rye. Barley. Barley.
108
.
39,658
50,925
—7J564
19
—
1,504
1,885
517
544
181
278,
1,404
2,454
of goods exists in many quarters is not disputed and
many buyers are making purchases regardless of prices, as
in order to hold their trade,
they are obliged to supply their
customers with certain lines of goods and are
finding it a
difficult problem to satisfy their demands.
Bleached cot¬
tons continue firm, with additional lines of 4-4
goods and
wide sheetings advanced and new
price lists named on one
779
'
Boston
New
Corn,
bush.
In Thousands—
30,293
21,440
28,505
1,928
12,453
3,439
1,520
age
Amer. Bonded
Amer.
■
New York.......
10,596
America
ductions
•
UNITED
905
56,675
448
Jan. 1.
The value of these New York
exports since Jan. 1 has been
$19,697,824 in 1913, against $20,562,239 in 1912.
Although markets for domestic cotton goods have been
less active during the past week,
they have been active
enough to dispel any attempt to make two holidays out of
one.
Large establishments will keep open to-morrow, but
will close on Monday in observance of Columbus
Day.
Prices continue firm,
notwithstanding predictions of re¬
Total;
Oct.
4 1913. 13,208,000 21,016,000 34,224,000 13,838,000 16,618,000
30,456,000
Sept. 27 1913. 12,632,000 20,360,000 32,992,000 13,532,000 15,674,000 29,206,000
Oct.
5 1912. 18,480,000 20,208,000 38,688,000 10,974,000 20,103,000 31,077,000
Oct.
7 1911. 18,928,000 13,136,000 32,064,000
1,734,000 4,106,000 5,840,000
granary
2
;
Sl/flrCG
.
17
.-.
______
—.—....„
■
,
1912—:—
Week.
10
-
'
>" r1
1,927
i
Central
..
$%TbC(s
Jan. 1.
387
Total
United
Kingdom.
«v"'
_
West Indies
Mexico
Other
Corn.
in prices.
Week.
_____
South
Wheat.
up
1913
,l.J '
•
____
Africa
■
-v
easing
Arabia
95,568,000
The quantity of wheat and corn afloat for Europe on dates
was as follows:
V\Vy v,:y
I.
New York to Oct. 4—
Great Britain
India.
mentioned
an
,
'I \
'•
Other Europe
China
94,678,000
business is expected from any of the for¬
new
packages, valued at $561,544, their destniation being to the
points specified in the table below:
Bushels.
623,000
5,307,000
4,856,000
83,892,000
xcvix.
DOMESTIC COTTON GOODS.—The
exports of cotton
goods from this port for the week ending Oct. 4 were 7,564
Since
Since
Little
[Vol.
eign markets until there is
1912.
1913.
Bushels.
Total
ders.
Corn.
1913.
Week
CHRONICLE
Total
Entered for consumption-^
Total imports 1913-.-Total imports 1912—-
—
.10,745
12,260
2,803,378
3,145,873
5,049,600
10,455,450
4,290,572
7,026,144
5,252,879
32,074,645.
85,011,962,
536,435 117,086,607
581,077 114,861,873
oct.
OiTY BEFAFfWflT.
MUNICIPAL BOND SALES IN SEPTEMBER.
:
Better conditions
prevailed in the municipal bond market
However, the demand was
not so great as to cause any material advance in prices, the
improvement .being reflected in the smaller number of un¬
successful offerings rather than in higher prices.
The total
of bonds offered but not disposed of was
miilions, com¬
during the month of September.
millions which failed to sell during August,
pared with over 7
over
than 25 ^ millions in June.
15 millions in July and more
The bonds sold in
September amounted to $24,974,251.
loans
This does not include temporary
which aggregated $45,890,533 and
Canada,
of
Dominion
sales made in the
or
$17,035,714 "(including a £3,000,000 Government
loan),
re¬
In the following we furnish a comparison of all
various forms of obligations put out in Septe nber during
spectively.
the
the last five years:
•
.
-
'
;
"§("■•'' 1
$
l"''
■
>
.
1909.
A 1910.
1911.
1912.
1913.
\
'''
'
$
»
•
S.).24,974,251 25,469,643 26,487,290 18,364,021 23,001,771
Permanent loans (U.
26,081,556 28,279,819 20,526,236
3,864,129
1,919,592
2,944,536
None
100,000
None
None
None
None
1,500,000
5,000,000
8,259,055
1,530,419
Temporary loans (U. S.).45,890,533
Canadian loans (perm't). 17,035,714
Bonds of U. S. Possessions
Gen. Fund bds.(N.Y.C.).
Total
87,900,498 55,515,328 58,186,701 46.834,793 32.791,245
—
The number, of
municipalities emitting permanent bonds
issues made during Sept. 1913
and the number of separate
were
326 and
and 520 for
For
None
None
This contrasts with 423
393, respectively.
Aug. 1913 and with 407 and 621 for Sept; 1912.
comparative
purposes we
add the following table show¬
loans and also issues
Canadian municipalities, for September and the nine
ing the aggregates, excluding temporary
by
months for
*
.
a
series of years.
'
September.
1913
...$24,374,251
1912.
25,469,643
1911
26,487,290
1910........ 18,364,021
1909
23,001,771
-
For the
Month of
:
—
—
.
....
1908
.,..'*34,531,814
1907....
1906
....
47,947,077
8,980,418
1905—r—• 9,825,200
10,694,671
1904
8,762,079
1903...
In the
_
4
$9,179,654
14,408,056
4,033,899
7,201,593
6,173,665
1897'.
9,272,691
1896
3,693,457
1895.-—— 11,423,212
$280,781,639 1902...
317,912,921 1901
314,503,570 1900..
231,921,042 1899
272,389,451 1898
243,241,117
-199,722,964
153,152,345
141,021,727
197,921,657
111,745,993
we
Nine Mos. '
September.
Nine Mos.
following table
For the
Month of
—
—
8,249,347
1894
1893
—
1892
give
a
3,885,137
6,242,952
$117,678,855
99,324,001
97,194,441
95,026,437
83,150,559
106,387,463
56,229,416
92,253,916
90,454,836
40,974,566
63,583,834
755_.
968..
'
SEPTEMBER
BOND
Page.
Name.
V
Rate.
902..Adams, N. Y_
5
902..Akron, Ohio
5H
1059_Allegany County, Md_.
5
903.-Amazon R. Con. S. D., Miss.. 6
__
967..Argyle Twp., Mich.
5
967..Ashland, Ohio
967..Ashland County, Ohio.;
903..Bayard, Iowa
5K
5Yi
53^
—
.
.
1915-1923
al920
754.-Bedford
Twp. S. D., Ohio— 5
1059-Ben Avon, Pa
;
434
1919-1936
<*1923-1,933
967--Bend Sch. Dist., Ore. J.
6
1059_Bend Sch. Dist.,Ore__
1914-1951
1059-Berkeley, Calif. (2issues).
5
1923
1059-Bethel Township, Ind
'4
1923
1059-Big Rapids, Mich
5
1931-1932
1059-Big Tarkio Dr. Dist., Mo
6
829..Bishop, Texas..
—
1933
903—Bloomfield, Conn
■—
5
903.-Blue Island, 111
i
~"a'lW"
903_.Bonner Co,, Idaho.
534
903..Boone County, Ind
434
'"1933"""
829__Boonville, Mo
5
679-Boonville, N. Y__
5
1923-1938
1059-Brackenridge, Pa
434
<*19-18-1-933
903__Bradshaw, Neb—.—
6'
al931
829..Branch Hill Spec. S. D., Ohio.. 6
1943
967__Bridgeton, N.J——>
434
_
...
,
...
967--Brookhaven Com. Sch. Dist.
No. 23, N. Y
5.30
754.-Bryan, Tex. (2 issues)..
5
1060-Buhl, Minn. (2 issues)
753..Burlingame, Cal.
1060-Burwell, Neb
6
754-.California
__i_ 4
903-.California
4 "
1060-California_.2_
4
967. .Cameron County, Tex__.
754—Canton, Ohio (10 issues)
534
754—Carlisle Sch. Twp., Ind—
5
754.-Carroll Sch. Dist., Cal
6
_
<*19~33f-1953
„
<*1918-1933
...
....
Dist;, Cal
6
5
1916-1928
967—Carthage Sch. Dist., IU
<*1928-1933
903--Castle Rock, "Wash
6
754—Centralia, 111
1060-Chardon, Ohio
5
1914-1942
967—Cheektowaga (T.), N. Y
5
1914-1943
903_-Chelmsford Water Dist., Mass. 434
<*1923-1933
1060-Chewelah. Wash
6
829.-Cincinnati, Ohio
434
...
967..Cincinnati,
Ohio..
967..Cincinnati, Ohio
829..Clay County, Ind—
968--Cleveland, Ohio (2 issues)
968_.Cleveland, Ohio
968_.Clinton County, Ind
755—Cloverdale, Ohio..
968.-Columbiana Twp., Ohio.
755--Columbiana County, Ohio
434
434
1938
al922
4
*5
434
434
"
1948
6
"al9l6"
5/
./
"al919"
al922
903—Columbus, Ga
904..Columbus, Ohio
j._
679.-Columbus Com. S. D., Ohio
755.-Copiah County, Miss
829..Covington, Ohio...
968.-Crestline Sch. Dist., Ohio
829..Culberson Co., Tex (2 issues)
...
5
5
al919
.
1918
1923
5
6
al938
6
al917
1061. Frankfort, N. Y
—
904-. Franklin, Ohio-680- Franklin County, Ohio (2
830.. Franklin County, Ohio
4K
1937-1949
a 1925
al945
1916-1925
ol917
830...Franklin Sch. Twp., Ind
968.,-Freeport Sch. Dist., Ill
904-:-Fruitvale Sch. Dist., Cal_i
755-..Fullerton. Neb—
—
—.—
904-.-Fulton, N. Y
755--Fulton County,
—----
Ohio
968--Galion, Ohio (4 issues)
904-.-Garretsville,
Ohio—
___
904--Geddes, N. Y
—
1918-1922
al923-1933
6
5
4H
5
5
al918
— —
5
5
968- -Gloucester, M§,ss__-_
680- _Gloversville, N. Y__
904- .Gloversville, N. Y_.
43^
680-.-Grand Rapids, Mich
-Grand Rapids, Mich
755..
-Grant County, Ind
830..
al939
al920
6
4H
1061. Great Falls, Mont.
1061 Haddon Township,
5
5
43^
756-
■
1914-1943
<*1923-1933
:
.
—
a 1924
1943'
1943
5
Jasper, Ind
4M
101.5
969-
Jefferson School District, Cal__
Jefferson County, Ark
6"
905- Hannibal, Mo
905- Hartford, Mich
830905-
—-
—
7561061
905-
6,000
10,500
30,000
3,000
20,000
570,000
10,000
1,000
25,000
23,000
35,000
TOO
100.095
756.
Jeffersonville S. D., Ohio
Jerome Township, Mich
1061
Johnstown School District, Neb.
6
6
6
5
Kalariia, Wash
Kalama, Wash
1061 Kansas (6 issues)
969- Kansas City, Kan
830- .Kansas City, Mo. (2 issues)
830. Kellogg, Ohio-.:
1062 Kenmore, Ohio
831- Kent County, Del
1062 -Kenton, Tenn
756- -Kern County, Cal
969- -Kiel, Wis-——
969.
100
30.000
102.176
147,000
8,920
100.25"
25,000
100
9,000
100
20,000
2,000
103.529
17,000
"
f 10,000 zlOO
i 5,000 100.4
9,900
35,000
100,000
48,000
35,000
100
100
100
100
969-
——
•
__
—
756- .Kirklin Township, Ind——
.
fob"""
100
100
100
100.125
6,000
10,000
fob""""
16,450
100.031
32,000
103.288
60,000
6,200
100.20"
340,000
100.068
51,000
100
765,500
100.65
100,000
100
30,500
282,000
200,000 zlOO
34,400
1,200
100.046
50,000
102.913
8,000
102.92
8,436
99.575
40,000
100.76
8,500
101.608
80,000
75,000
101.55"
2,000
2,000
6
5
5
6
5
5
4^
6
756- -Lake County, Ind
1933
1933
Lawler,
1062
1919-1938
,1917-1933
1914-1918
<*1913-1933
—
Lawrence.Mass
Iowa
,831 -Lawrence, N. Y
1062 .Lewisburg, Tenn
..
1915
al937
1933
434
6
434
534
831. -Lapeer, Mich__
905- -Latrobe School District, Pa___-
4
al931
"a"l919"
4.80"
L
;
905-. Liberty Township, Ohio—
969-. .Licking Township S. D., Ohio__
1062. .Live Oak School District, Cal—
.
100
al921
1923
<*1928-1933
<*1928-1933
434
969- -Kooskia, Idaho—
831- _La Grange, Ga
969r
fob"""'
1915-1923
6
680-
756-
100
681- ;Logan County, Ohio-—
al933
6
5H
6
al919
534
534
a
1938
1914-1923
al916
757- .Logan County, W. Va
969_. .London, Ohio
1062. .Lorain, Ohio
5
5
al918
5
757- .Los Angeles, Cal
434
1914-I923
831- .Lowell, Mass
434
<*1933-1943
757_. .Luna Co. S. D. No. 11, N. Mex 6
1933
969- .McKay School District, Cal
6
1943
905- .Madison Couaty, No. Caro
5
<*1928-1933
757-. .Malta, Mont. (2 issues)
6
-
905-. .Manchester, N. H
1062. .Manitou, Colo
-
<*1923-1928
7
831- Manito, 111
757- .Manson School District, Cal
906-. .Marion, N. Y
906- .Marion County, Ohio
906- .Marshall County, Ind
1914-1933
4
5
5
-
1916-1922
5
6
43£
1914-1922
831-. Martinsville School Dist., Ind
43£
906-
6
4
Marysville, Ohio (4 issues)
969-. Marys ville School District, Pa969- Massillon, Ohio (4 issues)
757_. .Mayfield School District, Cal—
969- .Miami, Fla__
—
al915
6
—
,
906- .Middlefield,
Ohio (2 issues)
5
831-. Middletown, Ohio.,
5
757.. .Middletown Con. S. D., Conn- 434
1062. .Milam County, Tex
5
969-. .Millbury, Mass
....
4
-
100
96.25
100
101.05
100
100
100.5
100
100.68
96.766
100.12
100
100.67
100
fob""""
102.093
101.8
1923
<*1923-1953
-
al924
101:339
100
100
~
100.099
102.362
100
100
100.5
100.435
100
101.662
100.5
100
104.53"
lOb""""
IOT665
•
100
25,000
45,000
12,000
20,000
—
969.
100.439
14,113
7,500
100,000
336,888
40,000
360,000
4,000
10,000
80,000
18,000
27,280
24,000
100,000
9,000
—
969-
103.162
;
__
756101.12
—
--— —
680-
100.583
225,000
100,000
30,000
9,100
2,560
30,700
70,000
1933
43^
Mich...
TOO""
500
—
(2 issues)
Ind—
100.425
100
100.5
13,000
2,750
—
5
43^
680-. Hamilton, Ohio
______
5
756- Hamilton, Ohio—
5
756-. Hamilton County, Qhio—4H
Hamtramck.
"
al918
•
43^
— _
fob""""
100,000
5
43l
-Grant County, Ipd
968-.
-Granville. N. Y_—„
755-.
100
100.133
25,000
7,500
15,000
5,000
10,000
30,000
30,000
49,500
1,940
27,000
5,000
1915-1929
43^
680-.-Gettysburg, Ohio_
904--Glendale U. H. S. Dl, Cal
-Grant County, Ind:
904-.
103.261
6,000
al918
6
:— 4K
111
100
1,288
100,000
23,644
70,000
19,600
16,000
44,000
20,000
18,000
12,000
62,000
1914-1928
iss.)__ 5
5
968-. Franklin County S. D. No. 48,
969-
70,000
4
43^
4>£
5
5
5
4.95
5
Ind
103.079
350,000
100.42
15,000
100.14
150,000
100
8,200
11,000 1/103.51
al926
904-. Fonda, Iowa
904- Fcrt Lee, N. J_^-830-. Fostoria, Ohio
fob""""
25,000
---------
4J^
JOhio_:
Vil. Sch. Dist., Ohio
830- Floyd County,
830-
250,000
150,000
20,000
120,600
3,500
l.ooo
2,000
...
754—Carr Sch.
•
1923
905-
Price.
1,500,000
—
...
S
'
al915
_______—
100""""
v
1933
1924-
---
1061. Fargo, No. Dak
968-. Flint, Mich
-_---1061. Flint Union Sch. Dist., Mich—
830-
al919
----
al919
— -
755_. Euclid
54,000
-
5
5
755.. Everett, Wash
20,000
6,500
■
a1917
—
<*1933-1953
al918
1953
al933
100.5
500
1933
4
5
5
53,250
10,000
1915
15,000
1,000,000
33,000
7,500
43,000
8,500
25,000
5,000
9,000
100,000
24,000
30,000
—;
43^
5
$5,000
<11923-1933
6
— —
101.25
7,500
5
968- Erving, Mass
755- Essex County, N.
1060. Euclid Township,
830-.
Amount
—
755-. Eddystone, Pa
830-. El Paso County, Tex
905-
SALES.
<il930"
1914-1923
—-
905-
In
the
given.
Maturity.
,
-
5
East Okanogan Irr. D., Wash__ 6
East Palestine S. D-, Ohio (2 is.) 5
East Side L. & Dr. Dist., Ill—— 6
East Waterloo S. D., Iowa
5
968-.
-
—
4,000
50,000
164,180
40,000
4,800
34,980
8,800
1914-1923
al928
4M
4^
6
4M
968- Dorrancetown, Pa
968- Dover, Ohio (2 issiies)—
755- Dresden, Ohio,
—-904-. East Grand Rapids, Mich
968-.
100
i
-
—_
(2 issues)
Dist., Mich904- Detroit, Mich
968- Dorrancetown, Pa
Price.
100.066
,
5
5
5
904.. Delta, Ohio
755_. Detour Sch.
904-
1914-1933
F. S. D. No.
7, New York
830- Dayton, Ohio
968- Dayton, Ohio (3 issues)
968- Dearborn County, Ind
968- Decatur County, Ind
968-. Deer Park, Ohio
968.. Delaware County, Ind
$ 60,000
100,000
al918
'
100
list of September loans to
account of the sale is
an
1060. Davenport, Iowa
968- Davenport (T.) U.
5
<*1923-1933
5
al927
Harvard, 111
53^
—.
Hazleton School District, Pa
4H
Hempstead, N. Y
—43^
al920
Hendricks County, Ind
43^
Highland Park, 111
:
Highland Park S. D., Mich-1928
Hilton, N. Y
5
al918
Homestead School District,Cal.
Hornell, N. Y_
43^
1914-1931
Humboldt, Neb
6
<*1923-1933
Humboldt County, Nev
6
Huntington, W. Va—
5
1943
Hyattsville,Md
5
1917-J937
Iroquois County, 111
6
Irving School District,Cal
al922
Jamestown U. F. S. D., N. Y__ 5
the amount of $24,974,251, issued by 326 municipalities.
the case of each loan reference is made to the page in
"Chronicle" where
5
5
904- Darke County, Ohio.
Amount.
Maturity.
Rate.
Name.
Page.
SW£ AfJB
1057
CHRONICLE
THE
111913.]
.
50,000
7,000
20,000
12,000
109,000
9,000
10,000
150,000
6,000
6,000
5,000
5,294
6,000
20,900
50,000
200,000
30,000
3,000
30,000
30,000
240,000
15,000
2,500
10,500
40,000
12,000
35,000
115,000
6,000
100,000
75,000
20,000
■-18,000
2,500
5,000
flO.OOO
I 8,500
60,000
25,000
32,583
130,000
20,000
2,000
1,200
50,000
37,000
100,000
10,000
6,500
3,500
30,000
12,000
54,660
46,500
26,800
2,000
37,602
1,000
40,000
16,450
10,000
50,000
50,000
50,000
100.237
102.25
98.10
100
fob"""T
101.375
100.684
95.25"
100.533
100
•
96.8
l"0"0".l25
•
100
at
fob"""
100
100
100
100
,
100.952
fob""""
100
100
100
.
100.03"
.
.102.nl
100"'""
100.695
100.752
98.03
100.45
99
100
101.61
100
100
lOb""""
100
100.8
100
102.216
100
101.075
101.869
100
100:2""
100
100
101.01
97.254
100
103.41
1058
Page,
THE
Name.
Bate.
1062-Milton Township, Ohio
5
4A
757_-Milwaukee County, Wis
757_-Minerva, Ohio
969_-Minnesota
al922
1914-1917
4
5
_
831_.Missoula Co. S. D. No. l.Mont.
5
969_-Monroe County, Ind
4A
969_-Montgomery County, Ohio
906--Montgomery County, Tex
5
969.-Morenci, Mich—
757- _Morgan County, Ohio
969__Mount Vernon, N. Y__
969.-Murray City U. S. D., Ohio„_.
969--Musselshell Co. S. D. No. 10,
dl 919-1933
5
—
5
.
al927
5
al919
5A
Mont
6
969.-Nashua, N. H
831--Nassau County, N. Y
(11916-1918
5 k
...
{ 4A
.01928
.
832--New Hanover
County, N. .C
'
1923
1918-1924
4A
ol919
1923
.259,388
5A
5
440.000
5
Calif-
1943
01917
50,000
1,250
2,660
;>
dl933-1943
17,500
832-. .St. Paul, Minn.
issues)
8,000
10,000
1914-1923
:
...
_
_
...
^
...
01934
1943
280.000
5 V
5
1914-1953
850,000
8.000
'
01922
5
210,000
136,000
5
89,000
1917-1942
01924
4 *;
1914-1920
01942
01917
5
01925
1914-1923'
1933
35,000
7,000
87,000
60,000
1914-1944
4A
_.
5
5
970. .Stanley School District, Cal...
907. .Steelton School District, Pa
758. -Steubenville, Ohio____i
970. Steubenville, Ohio (5 issues)
970_ .Stockton G. S. D., Cal
8
970. .Stockton H. S. D., Cal_
5
4A
4A
4A
...
_
,
1063 .Superior, Wis.
970. -Swissva'e, Pa_
970. _Tar en turn, Pa__
""ol~923
5
65,000
40,000
69,000
458,000
01919
5
5
1916-1948
1915-1935
105"""
100
1933
(71933-1953
Various
64,300
45,000
8,000
50,000
5,800
6
5
01929
...
908.. Tipton County, Ind. (2 issues).
4A
758- Topeka,
4A
5A
_______
908.. Tropico School District, Cal
„
6
758-. Utica, N. Y. (3 issues)..1064 .Valley Co. S. D. No. 8, Mont..
4A
-
Vanderburg County, Ind
Venice Drainage District, La...
Venice U. H. S. D., Cal.......
Vermilion Co., Tnd. (3 issues)..,
.Virginia, Minn
.Wabash County, Ind. (2 issues)
.Walla Waha, Wash
.Washington County, Ohio
.Waterbury, Conn
Wauwatosa, Wis. (2 issues)
Wayne Township, Ind
??!::
Weiland S. D. No. 140, Tex...
833- Welsh. La
971- West Mansfield, Ohio
971. White Plains, N.Y:
1064 .White River Levee Dist., Ark..
971. Wilmington, Del
759. Wilmington, No. Caro
971- Winona School District, Minn.
972. Wyandot County, Ohio
833. Wycombe School District, Pa__
909- Yellow Creek Township, Ohio..
909- Youngstown, Ohio (22 issues)
834. _Zanesville, Ohio
908-
r«19f6
■
5
5
6
5
al917
1915-1921
;V
d1923-1933
.
al919
1918-1953
5
4A
6
4A
6
5
4A
5
5
5
al923
fll919
""1919"
101.77
6
5
6
4A
6
5
5
a
1923
1914-1928
1929-1933
al926
1918
al918
1923
100
5A
5
5
100.12,5
100.033
100
99.972
1/100*75"
al925
'
35.000
3,500
5.200'
59,500
.250,000
54,600
34,000
II,840
7,000
80,000
•
100,000
35.000
6.000
1.500
1*0*0". 135
12,000
15.000
100.000
100.000
100,0 0
30.000
Average date of maturity,
We have also learned of the
previous months:
Name.
Bate.
829-.AdaCo. S. D.No. 53, Idaho...
6
967-_Adams County, Ind.
(2 iss.)
4A
903-_Appalachia, Va. (July)
5
1059-Athens, Ga
4A
903.-Bethel Twp. S. D., Ind
Maturity.
Price.
$3,000
100
.9,360
1943
1943
01921
5
dl933-1953
6
1938
5
1933
5A
1918-1938
1923-1927
1914-1933
5
5
5
5
O1920
ol917
6
4-
1918-1932
7
1923
1923
5
5
01923-1933
21,000
103,000
12,500
6,000
17.332
4
1932
96.75
100
100
40,000
100,000
20,000
43,400
12,000
5,000
300,000
65,000
10,536
10,619
100
100
100.011
100.058
100
100
low"""
' 25,000
1928
100
5,000
5,000
.
5
1923
75,000
4
,1928
40,000
100
72,102
5"
d~l 918-1933
dl 918-1923
100
100
47,000
5
3,500
25,000
13,500
8,000
A
5
1932-1933
5
1923-1933
5
1914-1918
100
100
100
6
dl933-1943
7,000
100
6
...
d1933-1943
2,000
290,000
24,000
14,250
5,000
60,000
5,210
2,048
37,000
33,000
50,000
100
4 A
5A
-
dl918-1933
dl914-1923
1915-1923
4A
757._North Dakota (9 issues)_
832.-Opelousas, La
757.-Oregon City, Ore. (Feb.)
757__Oregon City, Ore. (Feb.)......
757-.Oswego Co., N. Y. (2 issues)...
4
"...
5
1914-1923
5
6
5
970.-Panama City, Fla
906..Pixley Sch. Dist., Cal
832.-Salem Township, Ohio._
832.-Sheridan Co. S. D. No. 7, Mont.
970_.Spencer Ind. S. D., Iowa
907--Spur, Tex. (June)
97l__Watertown, Wis. (July) (2 iss.)
833.-West Park, Ohio
833.-Winter Park, Fla...
759--Wright Co. S. D. No. 11, Minn.
683_.Yamhill, Ore
972.-Zanosville, Ohio (June).
6
16,000
25,000
20,000
10,000
3,000
5,000
23,000
20,000
1943
1914-1933
5
ol919
6
dl923 1933
5
1919-1923
5
dl923-1953
4
1943
5
7
6
6
,
15,000
10,000
.
01931
1915-1934
dl914-1923
100
104.009
100
100.404
Too"""
100
indicated)
are
100
98
100"
___
3,000
3,900
28,500
5
as
100
19,000
6
..
(except
Amount.
dl918-1923
4A
829--Carrizo Springs, Tex. (May)...
1060-Collinsville, Okla. (June)...
904. _Corbin, Ky.
(July)
1060-Cow Lake Dr. Dist., Ark.
(July)
829.-Crystal Lake Twp., Mich.
904__Dansville, N. Y
755--Dawson, Ga. (June)..
830.-Effingham, 111
904__Elsberry Dr. D., Mo. (Jpne)
968--Essex County, Mass
755--Everett, Wash
755..Findlay, Ohio
:
755-.Gallatin Co. S. D. No. 3, Mont.
(June).
1061 .Greenville S. D. No. 1, Mich.
(April)..
1061-Hardwick, Vt. (July).,
905--Iowa Falls S. D., Minn
830..Itasca Co. S. D. No. 1, Minn •
830.-Kansas (9 issues)
756--King Co. S. D, No. 51, Wash..
756._King Co. S. D. No,. 176, Wash.
905.-Koochiching Co. Minn. (July).
831 ..Lincoln Center, Kan
757..Lucas Co., Ohio (May)
905.-Luna Co. S. D. No. 5, N. M.
(June)
905-.Luna Co. S. D. No. 9, N. M.
All the above sales
17,000
following additional sales for,
Page:
100
101.166
100
for August.
neluding temporary loans) for that month $19,076,822.
DEBENTURES SOLD
BY CANADIAN
Name.
Page.
Bate.
834..
834..
834..
834..
834834-.
Beaver, R. M. No. 276,, Sask__
Berlin, Ont
Brampton, Ont.
Brampton, Ont. (2 issues)....
Brandon, Man
Brighton, Ont
972.. .Chatham, Ont
—*
5
6
....
....—
1064. .Dominion of Canada
834- .Haileybury, Ont___
834-. Tlalton County, Ont
Amount.
$10,000
1*933
154,347
42,523
1914-1933
1953
5
i.
5
6
8
5
—
—
1940-'60
15 ,000,000
1914-19338,968
1928
40,000
15.000
T914-1923
500
.
1953
D.
1943
1943
...
.Sault Ste.
972
100
1065 .Steelton, Ont....:
972- .Wellington R. M., Sask
972. .Westmount, Que
;
834i .Westmount S. D*. Que...
100
1065 .Wingham, Ont
100
100 07
90
100
256,000
No.
1438, Sask:
760.. .Orilla, Ont
100
99.3
564,500
-
S.
31,000
5
4
...
Price
88
5,000
60,000
15,376
..
972- Hanley, Sask
...T_.
1065. .Knox Sch. Dist. No. 826, Sask.
909.. Lachine, Due
1065 .London, Ont
Battleford
972-. .North
MUNICIPALITIES.
Maturity.
19141923
5A
....
101.051
Marie, Ont
1923
1933
4A
1914-1943
5
91"
40,000
3,000
486.000
5
....
60,000
32,000
100,000
48,000
91.253
50,000
13,500
100.840
Total debentures sold in September
100"""
100
100
100
101.17
100
100.833
104.425
100
—
...$17,035,714
ADDITIONAL SALES OF DEBENTURES FOR PREVIOUS MONTHS.
Page.
Name.
Bate.
760.-Brandon, Man
5
760..Confluence S. D. No.
2590,
Alta.
(July)
8
1065-North Vancouver, B. C. (July). 5
834--Victoria, B. C. (July)
43^
The
above
Amount.
Price.
$316,000
Maturity.
99.367
1914-1921
600
1933-1962
1923
484,500
672,000
100
'
sales
(except as indicated) are for August.
These additional August sales make the total of debentures
sold that month $10,367,106.
1*00*"'
1/100.525
7.200
7.000
118,620
3,000
100*45"
News
100.340
102*536
d Subject to call in and after the earlier
A; Not including $45,890,533 of tem-
the later year.
...
C...
834.. .Sarnia, Ont
bond sales for September 1913 (326 munici¬
palities covering 393 separate issues)
;
*$24,974,251
a
—_____
P" CaL (August)
—
Total
year and mature in
Y-» (July)—
Hempstead, N. Y. (June)
&-S10.B£n^0^
101.1
5.519
__
/
90,500
40,000
29,430
3,500
50,000
100,000
16,000
5,000
These additional August issues will make the total sales
(not
15,000
_
.....
18,000
20,000
40.000
30,000
2,800
7,000
al924
4A
758853.
758.
100
/ 2,240 ■i"o*o"""
{15,600. ..100.012
5
832- Tuscarawas County, Ohio.-...
832.. Uorichsville, Ohio (2 issues)
971- Union School District, Cal.
100.
53,000
37,800
100
15,000
100.666
24,000
57,000
103*. 157
75,000 "100
1933
1919-1921
The Dalies, Ore
1064 Thermopolis, Wyo___
758.. Three Rivers, Mich. (2 issues)
908-. Tilden School District, Neb
6,000
5.000
-
1943
__
833.
100
62,000
4A
758. -Taunton, Mass. (2 issues)4A
970. .Temple, Tex__
5
1063 -Texas
;
-5
908.
V
5,860
01919..
6
^
969.-North
832-_Twin Bridges, Mont.
(July)......
832.-Newton Co., Ind.....^
100
325,000
830.-Harrison, Ohio (August)
756._La Grande, Ore.
(May).
831__Medford, Ore..
6
1062-Minerva, Ohio (2 issues)
6
757.-Montgomery Co., N. Y. (July). 4A
831-_Morrow Co., Ohio (2 issues).__ 5
100.06
$747,000
756.-Hamtramck, Mich. (August)...........
^b-Hardin County, °hi° (July).....
(June)
969..Lynn, Mass. (2 issues)
905--Marble Rock, Iowa
100
•_
;
—
100.529
5,
-
-
758.. .South Omaha S. D., Neb
907- .South San Fra cisco, Cal
907. -Spencerport, N. Y
758833759-
100.6
352.000
300,000
101.803
7,000 zlOO
440,000
101.68
80,000
100.012
4,558
101.228
6,400
100
•
5
—
102.28.
100
"
101.925
7,345
200,000
1933
5A
4A
1064. Tulsa,Okla-
100""
2.753
5A
4A
5
No.
100
100
100
5.000
5
907.. .Shelby, Ohio (2 issues)
758.. .Shelby Couny, Ind
971.
88.132
33,900
5
Y
Kan.v
95.833
100
10,000
355,000
5
682.. .Scioto County, Ohio
758.. .Seneca County, Ohio.
3,400
14,300
5
970- .San Mateo Co., Calif
682. -Schenectady, N. Y
(May)..
Djk£",¥?- (June).., —
1060.Columbus, Ohio (9 issues; August)
....
:
1063 -Salt Lake City S. D., Utah.___
832_. _San Diego,'Cal
758.. .Sandusky Twp., Ohio.
758_. .San Francisco, Calif
971-
24,000
„
""1923"
4A
4A
D.
100
5,400'
970-. .Rotterdam (T.) Com. Sch. Dis.
No. 14, N.Y
5-.
970-, .Rush County, Ind. (2 issues)
4A
970. .Russell Sch Dist., Calif
970. .Sac City Ind. S. D., Iowa.
907- .Sidney, Ohio
907— .Somerviile, Mass
100
11,
-
907.. .Shelby County, Ind
.1063. .Sherman Un. F. S.
:
N. Y__,___
101.47
7,500
1938
01919
6
6
758_. .Randolph County,,Ind
;
4A
907.. .Ravalli Co. S. D. No. 2, Mont__ 6
907-. .Reading, Pa
1
4
1063 .Rich Grove Twp., Ind__.
5
970-. .Richvale S.D., Calif
6
907-. .Rock Creek, Ohio_.
6
611- -Schenectady, N.
102.52
101.06
99,000
70,000
12,000
3,700
250,000
1943
1921-1932
4
—
832.. .San Francisco, Calif.
970_ .San Francisco, Calif
100
1
4A
-
-------
823_ .St..Paul, Minn. (3
970_ .St. Paul, Minn.
100
136,000
5
4%
4A
758_. .Port of Seattle, Wash
682-. .Pulaski, Va_
970-. .Racine, Ohio
907-, .Sacramento,
100"""
{17,000
is-j
J
No
101.50
100.333
3,650
5
______
D.
3,000
75,000
dl923-1933
4)4
The
—..
"ai9l7"
6
906_ -Pittsburgh, Pa____
1063 -Pittston Sch. Dist., Pa.
970_ -Pomeroy, Iowa_
970- .Porter County, Ind
758-. .Portland, Ore
100.4
4,000
__
sues
S.
173,000
4,000
36,000
2,000
2,000
1943
6
758--Passaic Co., N. J. (2 issues)
970--Pickaway County, Ohio (2
101.71
110,000
01925
6
1062.Pacific Co. S. D. No. 32, Wash.
1062_Parke County, Ind_-_
Wash
7,500
1943
,
5
970__Ocheyedan, Iowa.-
970. .Portland, Ore
758-, .Port Orchard
01919
»
5A
682—Olig Sch. Dist., Cal_
906_-Olive Township, Ohio
100.01
100.015
500,000
01916
Various
.
100.012
1922
-•
v.
414
4A
-
101.048
101.156
100
275,000
101.5
I,000
6,500 ylOO.176
100 2,500
650,000 1100
dl923-1933
6
3A
3
969_-Norfolk, Va
906_-North Hempstead, N. Y. (12is.)
757_-Oak Run Twp. S. D., Ohio
969_-Ocean County, N. J
757_-Ocean Springs, Miss
®
1914
6
—
xTaken by
•
100
100.20
.
[113,000/
1938
5
757
Newport, Wash96)—Newton Township, Ohio—
1062-New York City
1062-New York City
832__Ninevah Sch. Twp., Ind
99158
100
375,000/,
5
832--Newport, Ky
which do not belong in the list.
y And other considerations.
following items, included in our totals for previous
months, should be eliminated from the same.
We give the
page number of the issue of our
paper in which the reasons
for-these eliminations
may be found.%me
Municipality.
Amount.
10b0-California
100
f 150,0001
J 4H
1 4A
and
investment,
103.875
100
/125,0001
14 .70
906_-NewBedford, Mass.
an
10i".6i"
1,000
50,000
1914
as
xcvii.
REVISED TOTALS FOR
PREVIOUS MONTHS.
100
3,300
4,500
100,000
10,000
50,000
39,000
40,000
"al9i7"
[Vol.
porary leans reported,
suikmg fund
100
$10,000
900,000
600,000
4,000
100,000
102,200
4,000
25,000
"a 1924
5
6
969+-Minnesota (8 issues)
9061-Minonk, 111
al919
~
4
Price.
Amount.
Maturity.
831--Milwaukee, Wis_
CHRONICLE
items.
Auburn, Me.—Commission Government
Defeated.—The
question of accepting an Act of the 1913 Legislature providing
for
a
commission form of government
tion held Sept. 9.
The vote
was
was
defeated at
an
elec¬
219 "for" and 409 "against."
Aurora, Colo.—Cburt Holds that Town Must Pay Old
Water Bonds.—The U. S. Circuit Court of Appeals on Sept. 26
oct.
its water bonds issued in
The Denver "Republican" says:
decided that the town must pay
1891 (see V. 95, p.
1059
chronicle
111913.]
126).
Martha L. Gates and Robert
P. Wilder brought suit in the
District'Court
ADA, Hardin County, Ohio.—BONDS
of the $2,200 5% Montfort St.-impt.
NOT SOLD.—No sale was
bonds offered on Sept. 27.
Due $400 Oct. 1 1914 and $200
made
Int. A. & O.
$400.
Denom. $200 and
yearly Oct. 1 from 1915 to
1923 incl.
and principal on several bonds of this issue
avoid payment by showing that the ordinance author¬
izing the bonds had not been published according to statute requirements,
but Judge Lewis ruled, and is now upheld by the Appellate Court, that in¬
ADAMS COUNTY SCHOOL DISTRICT NO. 172 (Quincy), 111.—
BOND SALE— On Oct. 1 the $50,000 5% building bonds (V. 97, p. 829)
were awarded to H. T. Holtz & Co. .Chicago, at 101.535.
officials of Aurora certified on the bonds that all the
been taken, the town could not take advantage of its
ALBANY, Dougherty County, Ga.—BOND SALE.—On Oct. 1 the
$100,000 5% 30-yr. gold bonds (V. 97, p. 902) were awarded to the Citizens'
First Nat & Exch. Bank of Albany at 100.05 and int.
Date Oct. 1 1913
Bids were also received from J.H. Hilsman & Co. and Robinson, Humphrey,
Wardlaw Co. of Atlanta.
of Colorado to collect interest
and the town tried to
asmuch as the proper
required steps had
failure to advertise when sued by innocent buyers.
In a similar suit brought by Samuel J. Hickman to recover on
water bonds
(now Aurora) the Circuit Court of Appeals ren¬
decision also against the town.
In the trial in the Federal District
Court the town failed to prove that the water bonds ordinance had not been
of the town of Fletcher
dered
a
for the
already awarded Hickman, accrued interest and
Sublished, and judgment was rendered for and newly who was again obliged
money
sue
o
-"
principal.
,
•.
attempted to prove non-publication of the ordinance in
stopped it on the ground that the question had
already been adjudicated.
The United States Court of Appeals now sus¬
tains the District Court and Hickman will get $62,216.
When the town
the second trial, the Court
ALLEGANY COUNTY (P.
O. Cumberland), Md.-
Ohio.—BOND SALE.—On Oct. 3
829) were awarded to
(P. O. Lima),
COUNTY
ALLEN
the $20700 6% coupon ditch-impt. bonds (V. 97, p.
Breed, Elliott & Harrison of Cincinnati at 101.02.
Other bids were:
'
.
129) has been made permanent by an order of Judge 0. L.
Lockett, who sustained the contention of irregularity in the
formation of the district.
The case will be taken to the
Court of Civil Appeals.
Connecticut.—•Voters Defeat Proposal to Increase Pay of
Legislators—The election held throughout
this State Oct. 6
resulted in the defeat of the proposed amendment to Sec¬
tion 3 of Article XXVII. of the Constitution increasing the
compensation of members of the Legislature from $300 to
S
;:
$500.
Denver,
Colo.— Tunnel Contract Approved.—The con¬
building by the city and the Denver & Salt Lake
tunnel under James Peak, a spur of the Rocky
tract for the
of
RR.
a
Mountains, has been finally agreed upon and signed, we are
The agreement is
understood to provide for a board of engineers consisting of
J.. Wellington Finch an$ D. W. Brunton of Denver and J. V.
informed, by all the parties interested.
York.
Davies of Jacob & Davies of New
This board, it is
expected, will meet in Denver before Nov. 1 and take up the
matter of plans for the construction of the tunnel.
Con¬
cerning the cost of the improvement, the agreement is said,
to provide that if the engineers shall determine the same to
be $4,500,000 or less, the city commission, upon authorization
of the people expressed at an'election, shall issue $3,000,000
5% 50-year bonds as the city's share of the expense connected
with the work, and if the cost shall be found to be in excess
of $4,500,000, the road shall be required to pay the additional
f'vv:-V;,
expense.
/'Y
a
vote of 2,118 to
-
Plan of Government
providing a commission form of government.
reported as 9,842 "for" to 23,091 "against."
Morris, Minn.—New Charter.—A new home
was adopted at a recent election by a vote of
The charter is said to contain novel provisions,
The vote is
;
•
rule charter,
172 to 118.
chief
among
required by the combination of the two forms and the
State constitution.
Nome, Alaska.—City Almost Destroyed by Storm and Fire.
storm which visited this city last Sunday night
—A tidal
damage estimated at $1,000,000.
The
pumping plant and fire apparatus prevented
the checking of fires which began to break out in the wreckage
and, according to dispatches, the flames destroyed prac¬
tically everything in the business section of the city.
The
plant of the Pacific Cold Storage Co., where was stored the
chief supply of meat for the winter, is said to be a total loss.
It is asserted, however, that there is no danger of a famine
as reindeer representing 750 tons of meat are within driving
distance of the stricken city.
Mayor George A. Jones has
issued the-following' appeal through the Associated Press:
"A tidal storm has destroyed one-half of Nome.
The
damage is estimated at $1,000,000.
Five hundred persons
are homeless—most of them destitute.
Winter is approach¬
caused
destruction of the
ing and public assistance is necessary.
the City Treasurer of Nome."
Funds should be
sent to
Paul, Minn.—Sale of Certificates of Participation in
City Bonds.—Up to the close of business on Oct. 4 there had
over
the counter at par $811,330
participation in city bonds.
4% certificates
See V. 97, p. 541.
Springfield, Mo.—Commission Form of Government De¬
feated.-.—At the election held Oct. 7 the question of estab¬
lishing a commission form of government (V. 97, p. 902)
was
defeated, reports state, by a vote of 1,542 "for" to
2,043 "against."
Bond Proposals and Negotiations
have been
as
this week
follows:
County,
Wash.—BONDS PROPOSED.—
.Reports state that an ordinance was passed at first reading on Sept. 26
providing for the issuance of $117,000 6%' 20-yr. refunding bonds.
,
ABERDEEN,
Chehalis
stated that an election would probably be
of issuing $100,000 water-front-impt. bonds
(V. 97, p. 464).
We now learn that a bill was paased giving the city
water-frontage, but nothing has been done toward the issuance of bonds.
Westchester County,
N. Y.—BOND ELECTION.—An
election will be held Oct. 14 to vote on
the question bf issuing $10,000 st.-
ARDSLEY,
impt. bonds at not exceeding 5 % int., payable semi-ann.
Due
Or at option of village in 20 ann. installments of $500 each.
within 5 yrs.
ARMA, Crawford County, Kans.—BONDS VOTED.—The question of
issuing $36,000 5% 25-yr. water-works and electric-light bonds carried
at the election held Sept. 30 by a vote of 212 to 72.
We are advised that
these bonds will be offered as soon as possible.
ASHLAND, Ashland County, Ohio.—BOND OFFERING.—Proposals
Nov. 1 by Edgar Koehl, City Aud., for $4,500
will be received until 12 m.
5J4(% West Main St.-impt. bonds.
Auth. Sec. 3939 Gen. Code.
Denom.
$225.
Date Nov. 1 1913.
Int. M. & S.
Due $225 each six months from
March 1 1914 to Sept. 1 1923 incl.
Cert, check on an Ashland bank for
5% of bonds bid for, payable to City Treas., required.
Bonds to be de¬
livered and paid for within 10 days from time of award.
Purchaser to pay
Ha
accrued interest.
two
the
County,
Clarke
ATHENS,
Of
issues
without success
on
ul
i
Ga.—BONDS AWARDED IN PART.—
of 4>£% 30-yr.'bonds, aggregating $175,000, offered
June 16 (V. 96, p. 1853) $103,000 ($50,000 school and
$53,000 street) was awarded on Aug. 8 to J. H. Hilsman & Co. of Atlanta
at 96.75 and interest.
County, N.
Cayuga
AUBURN,
will be received until
12
m.
Y.—BOND OFFERING.—Proposals
Oct. 23 by Ernest Hunt, City Compt., for $36,-
4^% tax-free sewer bonds.
Date Sept. 23 1913.
Int. M. & S. at
office of City
Treas. in N. Y. exchange or at Columbia-Knickerbocker
Tr. Co., N. Y. City.
Due $105 91 on.Sept. 23 1914 and $1,500
thereafter.
Cert, check for $500, payable to City Treas., required,
to be delivered to purchaser at such time as may be mutually agreed upon
105 91
AUGUSTA, Ga.—BOND SALE.—On Oct. 10 the $200,000 4H%
30-year coup, refunding bonds (V. 97, p. 903) were awarded to Estabrook
& Co. of Chicago, John W. Dickey of Augusta and John D. Howard & Co.,
at their joint bid of 96.67.
.
Guthrie County, Iowa.—BOND SALE.—On Oct. 7 the
15-year electric-light-plant bonds voted Sept. 6 (V. 97, p.
awarded to Geo.M. Bechtel & Co. of Davenport.
Denom. $500.
754)
were
BAY
Int. M. & N.
V
'
Suffolk County, N. Y.—BONDS .VOTED.—Reports
SHORE,
the election held Oct. 6 on the ques¬
tions of issuing $15,000 fire-headquarters and $2,000 new truck bonds.
state that a favorable vote was cast at
BEN AVON (P.
O. Pittsburgh), Allegheny County, Pa.—BOND
SALE.—The $30,000 4tf% tax-free street and fire-house bonds authorized
July 31 (V. 97, p. 390) were awarded to the Mellon Nat. Bank of Pittsburgh
at par and int. in Sept.
Denom. $1,000.
Date Oct. 1 1913.
Int. A. & O..
Due serially from 1919 to 1936.
'
.'
SCHOOL DISTRICT (P. O. Bend), Crook County, Ore.—
SALE.—The $20,000 building bonds offered on Sept. 15 (V. 97,
754) have been sold.
BEND
BOND
p.
BERKELEY,
Alameda
County,
reports, the tw.o issues of 5% 1-38-yr.
Cal.—BOND SALE.—According to
(ser.) gold coup, bonds, aggregating
$570,000, offered without success on July 22 (V. 97, P- 311), have been sold.
Of this amount, $517,000 has been awarded to the First Nat. Bank of Berke¬
ley for $517,105 (100.02) and int.
COUNTY (P. O. St. Joseph), Mich.—BONDS NOT YET
advised that up to Oct. 8 no sale has yet been made of the
BERRIEN
SOLD.—We
are
of $500,000 4% 15-year road-improvement bonda
June 5 (V. 96, p. 1715).
It is expected, however,
Supervisors meets on Oct. 14 that $100,000 will be
taken by E, K. Warren & Co. of Three Oaks and $25,000 by St. Joseph
$100,000
of
an
offered without
issue
success on
that when the Board of
banks.»
BETHEL TOWNSHIP (P. O. Griffin), Posey County, Ind.—BOND
SALE:—Reports state that an issue of $lO,000 4% 10-yr. school bonds has
to-the Citizens' Bank of Peru at par.
been awarded
BEXAR COUNTY
—We
are
Denom. $500.
(P. O. San Antonio); T ex.—BONDS' PROPOSED.
advised that this county proposes to issue $100,000 court-house-
repair bonds.
BIG
Mecosto County, Mich.—BOND SALE.—We are
disposed of a $1,000 5% coupon tax-exempt water*
Int. J. & J. at the Citizens' State. Bank, Big
July 1 1923.
0
RAPIDS,
advised that this city has
works refunding bond.
Rapids.
Due
BIG TORKIO
DRAINAGE DISTRICT, Holt County, Mo.—BOND
SALE.—The Dist. Secy, advises us that an issue of $25,000 6% reg. system-
completion bonds has been disposed of.
part in 1931 and 1932.
Int. M. & S. at St. Louis.
Due
BLOOMINGTON, Victoria County, Tex.—BONDS PROPOSED.—
The question of issuing $30,000 water-works bonds is being contemplated
by this city.
BRACKENRIDGE, Pa .—DESCRIPTION OF BONDS.—We are advised
17H-yr. (aver.) sewer bonds awarded to Martin &
that the $20,000 4H%
St.
of
ARCATA, Humboldt County, Cal.—NO BONDS TO BE ISSUED.—
Using newspaper reports, we
held to vote on the question
Date Nov. 1 1913.
restrictions imposed by the
been sold
O. Palestine), Tex.—BONDS PROPOSED.
contemplaies issuing $60,000 bridge bonds.
ANDERSON COUNTY (P.
—This county
Re¬
which, it is stated, is a combination of the commission form
of government with the so-called city manager plan, each
necessarily in somewhat modified form on account of limita¬
5)
(V. 97, p.
to vote on
the
Minneapolis, Minn.—Commission Charter Defeated.—The
on
Sept. 30 rejected a proposed new city charter
(Oct.
105
Anderson County, So. Caro.—BOND ELECTION.—
the question of issuing the street-paving bonds
903) will be held Oct. 21, reports state.
ANDERSON,
The election
$6,000 hYi%
voters
.
'
$152
BAGLEY,
jected— The election held Oct. 6 resulted in the defeat of
plan for a commission form of municipal governnient. ,
tions
Secur. Sav.
1,184.
Conn.^-Commission
Meriden,
Co., Cleve.$169[Lima Tr. Co., Lima___
Bk. & Tr. Co., Tol. 166|Seasongood & Mayer, Cin
Miller &
Hayden,
in writing.
Approved.
—The question of establishing a commission form of govern¬
ment was approved, it is stated, at an election held Octi 7
Joplin, Mo.—-Commission Form of Government
by
Premium.
Premium.1
Clifton
p.
SALE.—
to W.
.
Independent School District (P. O. Clifton),
Bosque County* Tex.—Bond Issue Enjoined.—Dallas news¬
papers state that a temporary injunction restraining the
issuance of the $25,000 building bonds voted in June (V. 97,
-BOND
On
were
Stewart, contractors, on Sept. 26, at par and int. (V. 97, p. 967),are in the
denomination of $1,000 and bear date of Sept. 1 1913.
Int. M. & S.
BRONXVILLE, Westchester County, N. Y.—BONDS NOT SOLD.—
was made on Oct. 1 of the $16,900 5% 8-year (average)street-knot,
on that day (V
97, p. 829).
V
No sale
bonds offered
Pike County, Ala.—BOND OFFERING.—Proposals
H. Lawson, Mayor, for $10,000 5 % 20Cert, check for $500 required.
BRUNDIDGE,
will be received until Oct. 15 by J.
year
bonds.
BRYAN, Williams County, Ohio.—BOND OFFERING — Proposals
by John A. Neill, Clerk, for the following
5% coupon bonds:
$3,200 East Edgerton St. (assess.) bonds.
Denom. (8) $350, (1) $400
Due $350 yrly. on Sept. 1 from 1914 to 1921 incl. -and $400 on
Sept. 1 1922.
Denom. (6) $800, (3) $900.
7;500 West Edgerton St. (assess.) bonds.
Due $800 yrly. on Sept; 1 from 1914 to 1919 incl. and $900 yrly.
will be received until 12 m. Nov. 3
on Sept. 1 from 1920 to 1922 incl.
Denom. (1)
4,700 East Butler and So. Walnut Sts. (assess.) bonds.
$700, (8) $500. Due $700 Sept. 1 1914 and $500 yrly. on Sept I
•
from
1915 to
1922 incl.
1060
THE
CHRONICLE,
[Vol.
xcvii.
2,700 West Butler St. (assess.) bonds.
Denom. $300.
Due $300 yrly.
on Sept. 1 from 1914 to 1922 incl.
6,000 WestBryan St. (assess.) bonds. Denom. (7) $700, (1) $600,
(1) $500.
Due $700 yrly. on Sept. 1 from 1914 to
1920incl.,$600, Sept. 11921
and $500 Sept. 1 1922.
11,000 street-impt. (village's portion) bonds.
Denom.
(5) $2,000, (1)
$1,000. Due $2,000 each six months from March 1 1933 to March 1
SALE.—On Oct. 7 the
three issues of
4A% highway bonds, aggregating $29,800 (V. 97.
p. 968),
J!Heoawarded
Breed, Elliott & .Harrison of Cincinnati, it is stated, for
$29,815, equal to 100.050.
1935 incl. and $1,000 Sept. 1 1935.
Date Aug. 1 1913.
Int. P. & A. at office of Vil. Treas.
Cert, check on
Bryan bank for 5% of bonds bid for, payable to Vil. Treas., required.
Bonds to be delivered and paid for on or before Nov. 25.
(P. O. Spencer), Iowa—CERTIFICATES ISSUED.
—The Co. Aud. advises us that
drainage certificates have been issued in
lieu of the $9,358 bonds
offered without success on
BOND OFFERING.—J. R.
Scott, Co. Treas., will offer for sale
five issues of
4lA % gravel-road bonds, aggregating $34,500.
CLAY COUNTY (P. O.
BUFFALO, N. Y.—BONDS AUTHORIZED.—An
ordinance
Aug. 4 (V. 97, p.755).
CLAY COUNTY (P. O. West
Point). Miss.—BONDS A WARDED IN
PART.—Of the three issues of
6% bonds aggregating $26,500 offered on
Oct. 7 (V. 97, p.
829), $20,000 road and bridge bonds were awarded on
that day to Ulen & Co. of
Chicago at 101.055.
Denom. $500.
passed
was
Oct.
6 providing for the issuance of the
following 4lA% bonds:
$150,000 garbage and st.-cleaning-plant bonds.
Due Nov. 15 1918.
100,000 water-works bonds.
Due Nov. 15 1933.
Date Nov. 15 1913.
Int. M. & N. at Hanover Nat. Bank, N. Y.
City.
COLLINSVILLE,
SALE.—The $80,000 1 2-3(aver.) refunding and $20,000 3-year water, light and heat bonds
offered on August 23 (V. 97, p. 464) have been awarded to Wells &
Dickey
Co. of Minneapolis at par and int.
Date June 15 1913.
W.
I.
Cram at par.
Denom. $500.
Date Sept.
Sept. 1..
1
Int.
1913.
ann.
CALDWELL COUNTY (P.
CALDWELL COUNTY (P. O.
local parties at par.
to
A. & O.
on
a vote
CALIFORNIA.—BOND SALE.—We
are
advised that up
COLUMBUS,
CAMDEN COUNTY (P. O.
^
on at
5As..
incl.
,
CUYAHOGA
»
,
-
Clark County, 111.—NO ACTION YET TAKEN.—We are
no action has
yet been taken looking towards the issuance of
O. Catawba Island), Ottawa
Code.
County, Ohio.—PURCHASER OF BONDS.—Reports state that the
pur¬
chaser of the $5,000 5H% 22-yr. (av.) road
bonds, bids for which were
received on Oct. 1 (V. 97, p. 967), was
Sidney Spitzer & Co. of Toledo,
who bid 103.7.
f
PRICE
County,
Tenn.—BOND
on
Oct.
1 at 100.936 and int.
CHILLICOTHE,
Ross
County,
Ohio.—BOND
OFFERING.—Pro¬
posals will be received until 12 m. Oct. 27 by John Walsh,
City Aud., for
following bonds:
'
'
'
$11,000 5% general coup, bonds., Denom. $500.
Date Sept. 1 1913.
Int. M. & S.
Due Sept. 1 1943.
:
r
1,000 5% Safford Run sewer bonds.
Denom. $100.
Date Sept. 1 1913.
E*
Int. ann. on Sept. 1.
Due Sept. 1 1933.
1,110 4A% Second
St. Ry. bonds No. 4.
Denom.
$110.
Date
f
Aug. 15 1912.
Int. ann. on Aug. 15.
Due Aug. 15 1922,
subject to call $110 yearly,
f 22,000 5% safety dept. impt. bonds.
Denom. $500.
Date Sept. 1 1913.
1
Int. ann. on Sept. 1.
Due Sept. 1 1933,
*1,650 5% sidewalk4 intersection and canal crossing bonds.
Denom.
the
■r
,
.
.
.
.
r$165.
Cert, check for
Date Sept, 201913. Int. M. & S. Due Sept. 20 1933.
2% of bonds bid for, payable to City Treas.,
required.
10 days from time of award.
Bonds to be delivered and paid for within
Purchaser to pay accrued interest.
CHULA
voted
are
San Diego County, Calif.—DESCRIPTION OF
advised that the $40,000 gold coupon
road-impt. bonds
p. 311) are in the denomination of $1,000 and
bear
July 22 (V. 97,
interest at the rate of 6% •
Int. payable at Chula Vista.
No bonded or floating debt on Sept. 24 1913.
""
CltY CREEK
SCHOOL
—BOND
Due $1,000 yrly.
DISTRICT, San Bernardino County, Cal.
OFFERING.—Proposals will be received until 11 a. m. Oct. 13
by
Board of County Supervisors, Charles Post,
County Clerk and exofficio Clerk of Board (P. O. San Bernardino), for
$5,000 5% gold school
bonds.
Authority vote of 23 to 5 at an election held Aug. 9.
Denom.
$1,000.
Int. M. & S. at office of County Treasurer.
Due $1,000
yearly
from 6 to 10 years, inclusive.
Certified check or cash for 5% of bid
required.
Bonds to be delivered and paid for within 20
days from time of award.
Bonded debt, this issue.
Assessed valuation of
district, $204,125.
True
valuation (est.), $500,000.
Official advertisement states that
there is no
litigation or controversy pending which affects the corporate
existence or
boundaries of the district or the title of any official to
his
the
validity of these bonds.
office, nor^the
**
CLARK COUNTY (P. O.
Jeffersonville), Ind.—BOND SALE.—On
Oct. 4 the $18,700 4 A % highway-impt. bonds (V. 97,
p. 968) were awarded
to Miller & Co. of Indianapolis for $18,705,
equal to 100.026.
Denom.
$935.
Date June 2 1913.
Int. M. & N. Due part each six
months from
May 15 1914 . Other bidders were:
;
Meyer-Kker
Bank,
Indianapolis—
Fletcher-American Nat. Bank, Indianapolis
Campbells Sons & Co., Indianapolis.
E. M.
Int.
A.
&
O.
at
office
of
FOR
B01SlDSf—We are advised that the price paid for
4j^-year (aver.) refunding bonds awarded to Breed, Elliott
on
Sept. 25 (V. 97, p. 904) was 100.8 and not
first reported.
The Provident Savs. Bank & Trust Co. of
of Cincinnat
serially
Yamhill County,
DEARBORN, Wayne County, Mich.—BONDS VOTED.—By a vote of
164 to 6 this village on Oct. 4 decided to accept the offer of
Henry Ford for
the installation ot a water system.
With the adoption of the proposition
the Village Council was authorized to float $22,000 bonds for
the laying of
water-mains.
.
DELAWARE COUNTY (P. O. Muncie), Ind.—BOND OFFERING.—
Proposals will be received until 10 a. m. Oct. 13 by Geo. L.
Haymond,
for $5,220 4H%'Eli Poindexter et al. road bonds.
County Treasurer,
Date Oct. 1
DERRY,
1913.
Interest M. & N."
Rockingham
County,
N.
H.—BONDS
WITHDRAWN
us that the $110,000 re¬
Aug. 1 (V, 97, p. 680) have been
FROM MARKET.—The Town Treasurer advises
funding bonds offered without
withdrawn from the market.
DETROIT,
Mich.—BOiVD
under date of Oct.
par
$346,000 4%
success on
OFFRING.—The
Comptroller
4 that this city is offering for sale
sewer
over
advises
us
the counter at
and school bonds.
DEXTER, Stoddard County, Mo.—BIDS REJECTED.—All bids re¬
ceived for the two issues of 5% 10-20-year (opt.) bonds
aggregating $53,000,
offered on Oct. 6 (V. 97, p. 830) were rejected.
DUPONT SPECIAL SCHOOL DISTRICT (P. O.
Dupont), Putnam
Ohio.—BOND OFFERING.—Proposals will be received until
m. Oct. 18 by W. H. Fensler, Clerk Bd. of Ed., for
$4,000
County,
12
6% tax-free
Denom. $200,. Date Sept. 1 1913.
Int. M. & S. at office
Due $200 yearly on Sept. 1 from 1914 to 1933 incl.
Cert, check
for $100, payable to School Dist., required.
Assess, val. 1912, $207,000.
These bonds were offered without success as 5s on
Sept. 1 (V. 97,
bldg. bonds.
of Treas.
VISTA,
BONDS.—We
1913.
Ore.—BONDS NOT YET SOLD.—No
sale has yet been made, we are advised, of the
$12,000 6% 20-yr gold
coupon water-system-extension bonds offered without success on
April 7
(V. 97, p. 465.)
,
E. M, Farnsworth & Co.,Bost.l00.66
27
PAID
Harrison
DAYTON,
(V. 97,
967) were as follows:^
•
C.Wainwright .& Co.,Bost_100.875 Curtis & Sanger, Boston
..100.38
Blake Bros. & Co.,
Boston...100.27
Blodget & Co., Boston
.100.50
N.W. IIarris&
Co.,Inc.,Bost_100.27
Adams & Co., Boston
100.43
ft
Oct.
ending Sept. 11931.
CHEWELAH, Stevens County, Wash.—BOND SALE.—On
Sept. 10
the $6,200 10-20-yr. (opt.) and $4,000
5-10-yr. (opt.) 6% coupon bonds
(V. 97, p. 679) were awarded to Thomas Bowers of Che-welah at
par, less
attorney's fee and cost of lithographing bonds.
CHICOPEE, Hampden County, Mass.—BIDS.—The other bids re¬
ceived for the $13,000 4lA % 2M-yr. (aver.)
coupon highway bonds awarded
Webber & Co. of Boston
Date
DAVENPORT, Scott County, Iowa.—DESCRIPTION OF BONDS.—
The $100,000 5% funding bonds awarded on
Sept. 1 at par to Geo. M.
Bechtel & Co. of Davenport (V. 97, p. 968) are in the denom.
of $5,000,
$15,000 and $20,000 and dated Sept. 1 1913.
Int. M. & N. Due
SALE.—On1
Oct. 6 $16,660 44 6%
1-4-yr. (ser.) public-impt. bonds were awarded to the
First Nat. Bank of Cleveland for $16,819 60,
equal to 100.955.
Denom. to
suit purchaser.
Int. semi-ann.
to Paine,
$500.
100.066, as
Cincinnati bid 100.03.
reports state.
Hamilton
Denom.
the $60,000 5%
&
CHARDON, Geauga County, Ohio.—BOND SALE.—An issue of
$16,450 5% paving bonds has been sold to Spitzer, Rorick & Co. of
Toledo
CHATTANOOGA,
Bids must be
Due on Oct. 27 as follows; $16,000 in 1914, $13,500
1Q15, $13,000 1916 and $3,000 in 1917 and 1918.
An unconditional certi¬
fied check on a Darke County bank for
$200 (or cash), payable to Board
of County Commissioners, required.
Bids must be unconditional.
CECIL COUNTY (P. O. Elkton), Md.—BOND
SALE.—On Oct. 8 an
of $25,000 road bonds was awarded, it is
stated, to Townsend Scott
& Son of Baltimore at 103.87.
'
par,
making the bid,
County Treasurer.
ssue
at
Cleveland),. Ohio.—BOND OFFER¬
DARKE COUNTY (P. O.
Greenville), Ohio.—BOND OFFERING.—
Proposals will be received until 1 p. m. Oct. 27 by J. L.
Morgan, County
Auditor, for $48,500 5% ditch bonds.
Auth. Sees. 6492 and 6493, Gen.
.
CATAWBA ISLAND TOWNSHIP (P.
O.
BOND ELECTION PROPOSED.—Reports state that an election will be
held in the near future to submit to a vote the
question of issuing $850,000
5% Brooklyn-Brighton bridge-repair bonds.
•
advised that
the bonds voted Aug. 26 (V. 97, p. 607)
(P.
Clerk of Bd.
for 1% of bonds bid for, payable to Co
.Treas., required.
unconditional and upon forms furnished by above Clerk.
•'
•
r::
>,
until 11 a. m. Oct. 25 by John F. Goldenof Co. Commrs., for $119,000
5% coupon bonds.
Denom. $1,000.
Date Nov. 1 1913.
Int. A. & O. at office of Co. Treas.
Due $5,000 April 1 1918 and $6,000 each six
months from Oct. 1 1918 to
Oct. 1 1927 incl. Cert, check on a bank other
than the one
SOLD.—Reports state that no sale was made on Sept. 30
$3,200 4A % 10-yr. highway-impt. bonds offered on that
day (V. 97,
903.)
COUNTY
ING.—Proposals will be received
bogen,
BONDS NOT
CASEY,
•
....
CRYSTAL CITY, Zavala County, Tex.—BOND
OFFERING.—Pro¬
posals will be received at any time for the $14,500 water-works and
$6,500
street 6% 10-40-year
(opt.) bonds voted May 31 (Y. 96, p. 1716).
CARROLL COUNTY (P. O. Delphi), Ind.—BONDS A
WARDED IN
PART.—Of the two issues of 4A%
highway bonds, aggregating $8,760,
offered without success on Aug. 23 (V. 97, p.
607), $2,160 has been dis¬
p.
1
..
POSED.—According
SCHOOL DISTRICT (P. O. Canton),
Fulton
County, 111.—BOND ELECTION.—An election will be held Oct. 14, it is
stated, to submit to a vote the question of whether or not this district shall
issue $49,000 coupon building bonds.
of the
LAKE
were awarded on
CROOK COUNTY (P. O.
Prineville), Ore.—BOND ELECTION PRO¬
to reports, an election will shortly be held to submit
to the voters the question of
issuing $200,000 road bonds.
.i■
UNION
'J-
that
DRAINAGE DISTRICT (P. O.
Newport), Jackson
Ark.—BOND SALE— The $100,000
drainage bonds (V. 96,
July 8 to R. H. & G. A. McWilliams at par for
Date Sept. 1 1913.
Int. M. & S.
Due serially from 1918 to 1938
1785)
p.
Camden), N. J.—BOND SALE.—Reports
■
state
the November election
(V. 97, p. 904) is $450,000.
COW
Y. have been awarded the $75,000 4
A %
20-yr. Newton,Creek bridgc-constr. bonds offered without success on
Aug. 13
(V. 97, p. 903.)
It is reported that the price paid was 100.05.
posed of.
REFUSED.—Dispatches
County,
state that R. M. Grant & Co. of N.
CANTON
Ohio.—BONDS
CONRAD, Grundy County, Iowa.—BOND OFFERING.—This
place
offering for sale $5,000 water-works-ext. and
impt. bonds.
Auth. vote
an election held
July 7.
,
:
COOS COUNTY (P. O.
Coquille), Ore.—AMOUNT OF BONDS.—
According to reports, the amount of highway-constr. bonds to be
voted up¬
Kershaw County, Ohio.—BOND SALE.—On Oct. 4 the
two issues of 5% 20-40-yr. (opt.) coup,
municipal water and light bonds
aggregating $125,000 (V. 97, p. 679), were awarded to a Toledo firm, it
*
County, Neb.—BOND OFFERING.—Proposals
of 111 to 14 at
CAMDEN,
'■
awarded to
1913.
Int.
1
is
311) have been awarded, $21,000 to the
Sinking Fund Commission of the
Bd. of Freeholders and $4,000 to the
City Commission Sinking Fund.
'.
Platte
COLUMBUS,
CAMDEN, Camden County, N. J.—BOND SALE.—Reports state that
$25,000 municipal-hospital-equip, bonds recently authorized
(V. 97,
.
Date Oct.
Curtis & Sanger of Boston have
refused to accept the eight issues of
5%
bonds, aggregating $90,500, awarded to them on
Aug. 26 (V. 97, p. 608).
The City Solicitor has been
authorized to give the bonds to
Seasongood &
Mayer of Cincinnati.
to
the
'*•
$500.
Wm. Becker, City Clerk, for the
$10,000 5% 5-15-yr. (opt.) water-works-ext.
bonds voted May 20 (V. 96,
p. 1509).
Denom. $1,000.
Date July 1 1913.
Int. ann. at office of
City Treas.
Cert, check for 5% required.
p.
stated
and
will be received until 8
p. m. Oct. 1.7 by
the ques¬
Sept. 22
disposed of $4,325,000 4% harbor-impt. and $5,200,000 4%
highway bonds,
These totals differ from our records, which were com¬
piled largely from local newspaper accounts and which apparently showed
the sale of $5,072,000 harbor-impt. and $5,050,000
highway bonds.
Our
totals of municipal bond sales for earlier months of the
year Will be adjusted
accordingly—that is, by adding $150,000 highway bonds and eliminating
$747,000 harbor bonds.
lg
Dpnom. $100
COLUMBIA SCHOOL DISTRICT
(P. 0,. Columbia), Richland Coun¬
So. Caro.—BONDS PROPOSED.—This
CALHOUN COUNTY (P. O. Port Lavaca), Tex.—BONDS VOTED.—
a favorable vote was cast at the election held
Sept. 20
the proposition to issue the $5,000 Road Dist. No. 3 bonds
(V.97,p.754).
the State had
are
ty,
Reports state that
on
SALE.—We
district is contemplating the
issuance of $200,000 school constr. and
impt. bonds, according to reports
the question of
Lockhart), Tex.—BOND ELECTION.
—An election will be held Oct. 14, it is
stated, to submit to
tion of issuing the $50,000 Road Dist. No. 1 bonds.
Okla.—BOND
COLORADO SPRINGS, El Paso
County.. Colo.—BONDS A WARDED
IN PART.—On Oct. 1
$95,000 of the two issues of 4% 10-15-yr.
(opt.)
refunding bonds, aggregating $210,000 (V. 97,
p. 903), was
an
O. Lockhart),"Tex.—BOND ELECTION.
on
County,
funding bonds.
,•
—An election will be held Oct. 14,
reports state, to vote
issuing $40,000 5% road bonds.
Rogers
advised that this city has
disposed of an issue of $17,332 42 6% 25-yr. coup,
Date June 10 1913.
Int. semi-ann., at New York.
BUHL, St. Louis County, Minn.—BOND
year
BURWELL, Garfield County, Neb.—BOND SALE.—On Sept. 1
issue of $35,000 6% 5-20-yr. (opt.) water-works bonds was
awarded
Oct. 21
CLAY COUNTY
a
on
on
Brazil), Ind.—BOND
$18,701
18.7Q0
£ 17,554
t
p. 755).
EAST ORANGE, Essex County, N. J.—BONDS
PROPOSED.—This
city is contemplating the issuance of $13,000 fire-dept. bonds.
We are
advised that, should the issue be made, it will be sold to the
sinking fund
Commissioners.
EATONVILLE, Pierce County, Wash.—WARRANTS NOT SOLD.—
was made on Sept. 26 of the $12,000 6%
reg. electric-light and
power-plant-constr. warrants offered on that day (V. 97, p. 755).
Bids
were received
from contractors who were to be paid in warrants
drawn
against the system.
Only one offer was received, but this being too high,
No sale
was
not considered.
EL
PASO, El Paso County, Tex.—BONDS PROPOSED.—The issuance
water-works and school bonds is being
contemplated
of $100,000 sewer,
by this city.
ESBON, Jewell County, Kans.—BONDS VOTED.—This town re¬
cently cast a favorable vote on the question of issuing $33,000 water-works
and electric-light-plant-system bonds, it is stated.
ESTHERVILLE, Emmet County, Iowa.—NO BONDS TO BE ISSUED.
—The City Clerk advises us that the city-hall and fire-ho
Sse-construction
bonds voted Aug. 19 (V. 97. p. 680) will not be issued.
EUCLID TOWNSHIP
(P.
O. Euclid), Cuyahoga County,
Ohio.—
BOND SALE.—The $8,200 5% 9A-yr. (aver.)
coup, highway-impt. bonds
offered on July 12 (V. 96, p. 1645) have been sold, it is
reported to Rodgers
& Son of Chagrin Falls at par.
.
Oot.
EUGENE, Lane County, Ore.—BOND OFFERING.—It is stated that
the City Recorder will receive proposals until Oct. 27 for $100,000 5% watersystem-ext. bonds.
Cert, check for 2% required.
These bonds were
previously offered without success as stated in v. 97, p. 830.
EUREKA HIGH SCHOOL DISTRICT, Humboldt County, Calif.—
BOND OFFERING.—Reports state that proposals will be received until
Superv. (P. O. Eureka), for
These bonds were offered
Oct. 14 by the Clerk of the Board or Co.
$150,000 5% school bonds.
Denom. $1,000.
10 (V. 97, p. 830).
2 p. m.
without success on Sept.
FANNIN
(P. O. Bonham), Tex.—BONDS PROPOSED.—
considering the issuance of $250,000 road bonds
COUNTY
This county is
FARGO,
County,
Cass
issue of $100,000 4%
No. Dak.—BOND SALE.—We are advised
20-yr. general-purpose bonds has been disposed
that
an
of.
Auth. vote of 341 to 12 at an
election held Sept. 30.
DISTRICT NO. 20 (P.O. Exeter),
S. Blouch, Dist. Secy., is offering at
FILLMORE COUNTY SCHOOL
Neb.—BOND
OFFERING.—P.
Erivatesale $40,000 5% 5-20-yr. (opt.) couponbldg; Cert, check for $1,000,
bonds. Denom. $500.
►ate "when sold".
Int. at office of State Treas.
payable to Dist. Treas., required.
val. 1913 $352,281'.
■:
•
FONTANELLE, Adair County, Iowa.—BONDS VOTED.—By a vote
of 135 to 75 the proposition to issue the $8,000 5% 20-year water-works-ext.
bonds (V. 97, p. 904) carried at the election held Oct. 2.
We are advised
that these bonds will probably be sold at private sale..
FORNEY,
Kaufman
County,
Tex.—BONDS PROPOSED.—We are
city-hall and fire-station
the proposition to issue $20,000
proposed by this city.
that
bonds is
LAUDERDALE,
FORT
WAYNE,
Allen
County,
Ind.—BOND
SALE.—On
Oct.
6
20-yr. refunding bonds, series "D" (V. 97, p. 904),
were awarded
to the Fletcher American Nat, Bank of Indianapolis for
$142,455 (101.753) and int.
Other bids were:
Harris Tr.&S.Bk., Chicago.*$142,632 R. L. Day & Co., Boston__$140,908
E.M.Campbell,Sons&Co.,Ind 141,005 Estabrook & Co., Boston._ 140,742
A. B. Leach & Co., Chicago 137,305
♦Irregular.
the
$140,000 4)4%
Ohio.—BOND
OFFERING.—ProFOSTORIA,
Seneca
County,
posals will be received until 12 m. Oct. 20 by J, H.Morton,CityAud.,
for the following 5% improvement bonds:
$2,950 Sandusky St.-impt. bonds.
Denom. (1) $250.
(9) $300.
Due
part yearly on March 1 from 1915 to 1924 incl.
(4) $350.
Due part
1,800 Walnut St.-impt. bonds.
Denom. (1)
yearly on March 1 from 1915 to 1919 uincl.
6,900 General street-impt.
(city's portion) bonds.
Denom. (1) $400
(13) $500.
Due $400 on March 1 1915 and $500 on March 1 1916
and 1917 and $500 yearly on March 1 from 1915 to 1923 incl.
15,000 Water-works bonds.
Denom. $500.
Due $500 on March 1 and
$1,000 on Sept. 1 from March 1 1915 to Sept. 1 1924 incl.
5,800 Fremont St.-impt. bonds.
Denom. (1) $300 (11) $500.
Due one
bond on March 1 from 1914 to 1923 incl.
and
one
bond
on
Sept. 1
1915 and 1916.
950 Foster St.-impt. bonds.
Denom. (1) $150 (4)
bond yearly on March 1 from 1915 to 1919 incl.
$200.
Due one
Cert, check
Bonds to be
Purchaser to
Separate bids must be made for each issue.
Date Sept. 1 1913.
Int. M. & S. at any bank in Fostoria.
for 10% or bonds bid for, payable to City Treas., required.
delivered and paid for within 10 days from time of award.
pay
accrued interest.
(3) $500, (1) $300.
Date
Due Aug. 1 1921.
GREENVILLE SCHOOL DISTRICT NO. 1, Montcalm County,
Mich.—BOND SALE.—During the month of April an issue of $5,000 bonds,
due in 1928, was disposed of.
„
Huron County, Ohio.—BOND SALE.—On Oct. 4
an issue of $11,748 5%
5}A-yr. (av.) street-impt. bonds was awarded, re¬
ports state, to Spitzer, Rorick & Co. of Toledo at par.
GROVER
(P. O. Tiltonville), Jefferson County, Ohio.—BOND
OFFERING.—Proposals will be received until 12 m. Nov. 4 by H. E.
Jarvis, Vil. Clerk, for $1,750 5% sidewalk-impt. (village's portion).bonds.
Auth. Sec. 3870, Gen. Code.
Denom. $250.
Date Nov. 1 1913.
Int.
M. & N.
Due $250 yrly. on Sept. 1 from 1915 to 1944 incl.
Cert, check
for $100, payable to Vil. Treas., required.
Bonds to be delivered and paid
for within 10 days from time of award.
Purchaser to,pay accrued int.
GREENWICH,
TOWNSHIP (P. O. Carlisle), Sullivan County, Ind.—
advised that the $14,113 4H% coup. bldg. bonds
of on Sept. 6.
HADDON
.
BOND SALE.—We are
(V. 97, p. 544) were disposed
HAMILTON COUNTY (P. O.
Noblesville), Ind.—BOND SALE—On
2 the $6,000 4)4% 10-yr. highway-impt. bonds (V. 97, p. 905) were
awarded, it is stated, to Breed, Elliott & Harrison of Indianapolis at par
and interest.
Caledonia
HARD WICK,
FRANKFORT, Herkimer County, N. Y.—BOND SALE.—On Sept. 26
$18,000 32-yr. (aver.) sewer bonds were awarded to Adams & Co. of N. Y.
at par for 4.95s.
Denom. $500 and $1,000.
Date Sept. 25 1913.
Int.
ann.
in September.
OFFERING.—This
Vt —BOND
County,
village is offering for sale $61,000 4% coup, tax-exempt electric-light bonds.
BOND SALE.—We are advised that an issue of $5,000 4% coup, tax-
Date July 1 1913. Int.
bonds has been disposed of.
office.
Due in 1932.
exempt electric-light
J. & J. at the Vil. Treas.
Passaic County,
HAWTHORNE,
N. J.—BOND OFFERING.—Pro¬
17 by John A. Shea, Boro. Clerk,
posals will be received until 8 p. m. Oct.
road-impt. bonds voted as mentioned in
for the $30,000 5% coupon or reg.
Dade County, Fla.—BONDS VOTED.—A
favorable vote was cast at the election held Sept. 9 on the propositions to
issue $12,000 funding and $4,000 city-hall-construction bonds.
FORT
Oct. 3 1913.
Oct.
DISTRICT (P. O. Flint), Genesee County.
Mich.—BOND SALE.—The $70,000 4)4% 24-36-yr. (ser.) coupon school
bonds offered without success on Sept. 3 (V 97, p. 755) have been sold to
the Citizens'Commercial & Savings Bank of Flint.
FLINT UNION SCHOOL
advised
equal to 100.111.
Denom.
Int. F. & A. at the Co. Treas.
Xenia for $1,802,
Assess,
No bonded or floating debt.
,
1061
CHRONICLE
THE
111913.]
Denom. $1,000.
Date Sept. 1 1913.
Int. M. & S. at
Hamilton Tr. Co., Paterson.
Due $2,000 yrly. on Sept. 1 from 1916 to
97, p:
V.
544.
Cert, check on a national bank or trust company,
1930 incl.
on or
The
No bonded debt.
before Nov. 1.
payable to
Bonds to be delivered and paid
Collector, required.
Wm. C. Van Stone,
for
Assess, val. 1913 $2,279,189.
official notice of this bond offering will be found among
this Department.
the advertise¬
elsewhere in
ments
HILL COUNTY
(P. O. Hillsboro), Tex.—BONDS PROPOSED.—This
the issuance of $100,000 road bonds.
county is contemplating
Imperial County, Calif.—BONDS VOTED.—Reports
vote was cast at the recent election on the proposition to
HOLTVILI.E,
state a favorable
issue $33,000
sewer-system bonds.
HOLYOKE, Hampden County, Mass.—BOND SALE.,—On Oct. 9 the
following gold registered bonds, aggregating $339,000, were awarded, it is
stated, to Curtis & Sanger of Boston at 102.29:,'
$129,000 4%
municipal bonds.
Due $7,000 yearly June 1 from 1914 to
1922 incl. and $6,000 yearly June 1 from 1923 to 1933 incl.
210,000 4)4% school and police-building loan bonds.
Due $15,000 yearly
from 1923 to 1933 incl.
.
.
Date June 2
1913.
HOMESTEAD
Interest J. & D.
DISTRICT
SCHOOL
(P.
Homestead),
O.
Dade
County, Fla.—DESCRIPTION OF BONDS.—We are advised that the
$10,000 high-school bonds voted June 24 (V. 97, p. 67.) bear interest at the
rate of 6% and are in the denomination of $1,000.. Int. semi-ann.
Due
$1,000 yearly from 5 to 15 years.
'
:
.
Steuben County, N. Y.—BOND SALE— This city has
disposed of an issue of $45,000 4)4% park refunding bonds.
Int. J.
at Nat. Bank of Commerce, N. Y., or at office of City Chamberlain, Hornell. Due serially from 1914 to 1931.
HORNELL,
IRION COUNTY (P. O. Sherwood), Tex.—BONDS VOTED.—The
question of issuing $20,000 road bonds carried, it is reported, at the elec¬
tion held Sept. 21.
;
.
FRANKLIN COUNTY (P. O. Brookville), Ind.— BOND OFFERING.
details are at hand relative to Hie offering on Nov. 3 of the
—Further
$34,000 4)4% White Water River bridge bonds (V. 97, p. 968).
Proposals
bonds will be received until 1p.m. on that day by Chas. G. Reifel,
Denom. $500.
Date Nov. 1 1913.
Int. T. & D.
Due $500
each six months from June 1 1914 to Dec. 1 1923 incl., $1,000 each six mos.
from June 1 1924 o Dec. 1 1929 incl. and $1,500 each six mos. from Tune 1
for these
Co. Aud.
1930 to Dec. 1 1933 incl.
of bonds bid for, payable
FRANKLIN
On Oct,
904)
Cert, check on a Franklin County bank for 3%
to "Bd. of Co. Commrs.," required.
.
COUNTY
(P.
O.
Columbus),
Ohio.—BOND SALE.—
6 the $54,000 5 % 9K-yr. (aver.) bridge-constr. bonds (V. 97, p.
awarded to Seasongood & Mayer of Cincinnati for $55,315
(102.435) and int.
Other bidders
CUmm'gs, Tol_$55,231
Stacy & Braun, Toledo.55,225
Field Long'thfc Rich.,Cin. 55,155
Remick,Hodges& Co.,N.Y. 55,133
Weil, Roth & Co., Cin._. 55,115
Harris, Forbes & Co.,N.Y. 55,043
Sidney Spitzer & Co., Tol_ 55.036
Curtis & Sanger, N. Y
55,031
ITASCA COUNTY (P. O. Grand
were:
55 A.E.Aub & Co., Cin—__$54,945 00
80 Prov.Sav.Bk.&T.Co.jCin. 54,891 00
60
46
00
28
C. E. Denison & Co., Clev. 54,827 80
Hayden,Miller& Co.,Clev_ 54,798
Breed,Elliott & Har.,Cin. 54,691
Spitzer, Rorick& Co.,Tol_ 54,603
60 Otis & Co., Cleveland—, 54,452
40 Farson, Son & Co., Chic. 54,411
Ohio Nat. Bk., Columbus 54;980 10 New First Nat. Bk.,"Colum.54,270
00
00
50
00
O, Wauseon), Ohio.—BOND OFFERING.—
Proposals will be received until 10 a. m. Oct. 13 by C. J. Ives, County
Auditor, for $8,000 5% road-impt. No. 14 bonds.
Denom. $100. Date
Jan. 1 1914.
Int. J. & J. at office of County Treasurer.
Due $800 each
six months from Jan. 1 1915 to July 1 1919, inclusive.
Certified check, or
bank certificate of deposit for 10% of bonds bid for, payable to County
Treasurer, required.
Bonds tojbe paid for within 15 days from day of sale..
These bonds were offered without success on Sept. 8 (V. 97, p. 755.)'
GALVESTON, T ex.—BONDS APPROVED—An election held Sept. 30
fire-bbat; $300,000
public schools and
enlarging playgrounds; $150,000 for increasing and extending water supply
and improving sewerage service; $150,000 for the purpose of paving, drain¬
ing and improving streets, alleys, public grounds; $25,000 for filling,grading,
paving, draining, streets and avenues north of Avenue H and west of
Thirty-third Street,
Local papers state that these bond issues will have
to be submitted at an election to be held later for vote by the taxpaying
resulted in favor of the following bond issues: $75,000 for
for citv hall and auditorium; $200,000 for constructing
citizens only.
Anderson
Kans.—BOND: ELECTION.—An
election will be held Oct. 14 to submit to the voters the proposition to issue
$15,000 electric-light and $8,000 water-works 5% bonds.
Due not to
County,
exceed 20 years.
.
GETTYSBURG VILLAGE SCHOOL DISTRICT (P. O. Gettysburg),
Darke County, Ohio.—BIDS.—The other bids received for the $3,000 6%
1-3-year
(aver.)
coupon
school-impt. bonds awarded
on
Oct. 1
to the
Farmers Nat. Bank of Greenville at 107.5 and int. (V. 97, p. 968) were:
Bremen Nat. Bk., Bremen_$3,121 05 Citizens'Nat.Bk.,Gettysb'g$3,059 30
H.E. Garst, Greenville.__ 3,111 00 Spitzer,Rorick & Co., Tol_ 3,038 00
Sidney Spitzer & Co., Tol_ 3,093 00 First Nat. Bk., Barnesville. 3,026 00
Hayden, Miller & Co., Clev. 3,091 00 Dresden Nat. Bk., Dresden 3,012 00
Seasongood & Mayer, Cin_
GLENDORA,
Los
3,061 00
Angeles
County,
Cal.—BOND SALE.—Los An-
onds voted dated
geles papers Aug. 6 Oct. 97, state that thebeen awarded to Torrance, Mar¬
$25,000 municipal water-works
(Y. 3
p. 608) have
shall & Co. of Los Angeles at
GRANT'S
100.03 and int.
PASS, Josephine County, Ore.—BOND ELECTION POST¬
PONED.—Local papers state that the election which was to have taken
place on Oct. 18 to vote on the question of issuing $200,000 railroad bonds
has been
postponed, owing to
a
clerical
error
in the election notice.
BOND SALE.—On
Sept.29
ggregating $70,000
ckey Co. of Minneapolis for
to 100.436 a basis of about
|70 305 11 cqui
4,94%.
Other bids were:
E. H. Rollins & Sons",~Den~.$70,300 00 Farson, Son & Co., Chicago,
N. W. Halsey & Co., Chi_ 70,063 50
1
par less $340
.
Cont. & Comm. Tr. & S.
►
,
JACKSON COUNTY (P. O. Jacksonville), Ore.—BOND
Bank, Chicago
for these
.Clerk.
sires.
bonds
uptil
Denom. $50
Int.
Minnejyiolis-^-^- —
.,9&]E?FE C9?NTY <p- °- Xenia), Ohio .—BOND SALE.—On Oct. 3
$1,800 5% road-impt. bonds
were awarded
to
the Xenia Nat.
Bank
of
a. m. on that day by G. A. Gardner, County
multiples thereof up to $1,000 as purchaser de¬
10, 15, 20, 25 and 30 years from
10
or
semi-ann.
Due $100,000 in
'
date of issue.
SCHOOL DISTRICT (P. O. James¬
Chatauqua County, N. Y.—BONDS VOTED.—We are advised
author¬
by the taxpayers.
These bonds will probably not be sold until next
JAMESTOWN
UNION FREE
town),
that
ized
on
Oct. 6 the issuance of $70,000 additional building bonds was
spring.
„
JASPER COUNTY (P. O. Rensselaer), Ind.—BOND OFFERING.—
Proposals will be received until 3 p. m. Oct. 11 by A. A. Fell, Co. Treas.,
for $9,000 4)4% Yeppe Hansen, et al, highway-impt. bonds.
Denom.
$450.
Date Sept. 15 1913.
Int. M. & N.
Due part each six months
from May 15 1914.
BOND SALE.—The Co. Treas. advises us under date of Oct. 6 that the
$6,500 4)4 % 5)4-yr. (aver.) highway-impt. bonds offered without success
on Aug. 26 (V. 97, p. 609) have been awarded to J. F. Wild & Co. of Indian¬
.
.
•
apolis at par and interest.
Madison
Cbunty,
Ohio.—BOND
OFFERING.—Pro¬
posals will be received until .12 m. Nov. 3 by Howard Johnson, Vil. Clerk
for $27,000 5% Main St.-impt. bonds.
Auth. Sec. 3914 Gen. Code.
Denom. $500.
Date Jan. 1 1914.
Int. ann.
Due $2,000 on Jan. 1 1915
and 1916, $2,500 on Jan. 1 1917 and 1918 and $3,000 yearly on Jan. ijfrom
1919 to 1924 incl. < Cert, check for 5% of bonds bid for,-payable to Vil.
Clerk, required.
Bonds to be delivered and paid for within 10 days from
time of award.. Purchaser to pay accrued interest.
JENNINGS COUNTY (P. O. Vernon), jlnd.—BOND OFFERING.—
Proposals will be received until 11 a. m. Oct. 13 by James N. King, Co.
Treas., for an issue of $6,300 4)4%> 10-yr. highway-impt. bonds.
JOHNSTOWN SCHOOL DISTRICT (P. O. Johnstown), Brown
County, Neb.—BOND SALE.—We are advised that $5,000 of an issue of
building bonds was awarded to Karl Kruger at 96.8.
Date
July 11913.
Int. J. & J.
Due in 1923.
$10,000 6%
KANSAS.—BOND SALES.—During the month of September the fol¬
lowing 6 issues of bonds aggregating $20,900 were purchased by the State
at par:
Name.
Amt.
CloudCo.S.D.N.52 $1,800
Rate.
Purpose.
Date.
school house July
5
Due.
1 1913 Jan. 1'14-'18
Dickinson Co. S. D.
No. 44
1,000
Greensburg
5,000
NeoshoCo.S.D.No.5 10,000
Washington Co.—
S. D. No. 61
1,500
S. D. No. 114— 1,600
All the above bonds
Minnesota Loan & Trust Co.,
70,050 00
OFFERING.
—Additional information is at hand relative to the offering on Oct. 15 of
the $500,000 5%, coup, road bonds (V.97, p. 905).
Proposals will be received
JEFFERSON,
GARNETT,
Rapids), Minn.—BOND OFFERING.
—According to reports, proposals will be received until 10 a. m. Oct. 28
by M. A. Spang, Co. Aud., for the $300,000 4)4% 12-yr. (av.) coup, road
and bridge bonds.
Cert, check for 1% required.
These bonds were of¬
fered without success on Sept. 11 (V. 97, p. 830).
20
00
FULTON COUNTY (P.
9
IRVINGTON SCHOOL DISTRICT (P. O. Irvington), Essex County,
N. J.—BOND OFFERING.—Proposals will be received until 8p.m. Oct. 20
by M. Stockman, Town Clerk, for $104,000 5% coup, or reg. 50-yr. school
bonds.
Denom. f 1,000.
Date Dec. 1.1913.
Int. J. & D. at Irvington
Nat. Bank, Irvington.
were
Hoehler &
_
(P. O. Ironwood), Gogebic.
County, Mich.—BONDS AUTHORIZED.—We are informed that the
issuance of $21,000 4)4 % building bonds has been authorized by this dis¬
trict.
Int. semi-annually at the Gogebic Nat. Bank of Ironwocd.
These
bonds will probably be offered in a month or two.
DISTRICT
SCHOOL
IRONWOOD
are
Sept. 1 1913 Jan. 1 *15-'19
May 1 1913 May
1 1933
1 1913 July 1 '19-'23
5
school house
5)4
refunding
5
school house July
5
school house July 1 1913 Jan. 1 '14-'23
5
school house July 1 1913 Jan. 1 '15-'19
subject to call at any interest-paying period.
KANSAS CITY, Mo .—CERTIFICATES NOT SOLD— No bids were
received for the $330,259 78 6% park fund certificates offered on Sept. 29
(V. 97, p. 905).
time.
Proposals for these certificates will be considered at any
.
106?
THE
CHRONICLE
KENMORE, Summit County, Ohio.—BOND
Oct. 4
SALE.—Under date of
advised that the S3,000 5% 2-yr. street bonds offered without
p. 756) have been disposed of at private sale.
we are
success on
KENTON, Obion County, Tenn.—BOND
20-yr. water and light bonds was awarded
Constr. Co. of Memphis at
Int.
M.
&
S.
KENTON COUNTY (P. O. Covington),
Ky.—BOND OFFERING.—
Proposals will be received until 11a. m. Nov. 1 by John B. Dillon, Co. Clk.,
for $167,000 refunding bonds at not
exceeding 5% int.
Denom. $50(.
Int. J. & D. at German Nat. Bank,
Covington.
Due Dec. 1 1943.
Cert,
check for $500, payable to T. T. Metcalf, Co.
Treas,, required.
KINGS VILLE,
Nueces
County,
Tex.—BOND OFFERING.—Pro¬
posals will be received until Oct. 21 for $5,200 sewer and $3,200 st.-impt40-yr. bonds at not exceeding 6% int.
Auth. vote of 189 to 5 at the elec.
tion held Sept. 27.
KINNEY COUNTY (P. O. Brackettville), Tex.—BONDS PROPOSED.
.
,
—The issuance of $100,000 road bonds is
being proposed by this county.
KOOCHICHING
COUNTY
(P.
O.
International
Falls), Minn.—
BOND VOTED.—The question of
issuing $100,000 road bonds carried, it is
stated, at the election held Oct. 4.
LACLEDE, Linn County, Mo.—BONDS VOTED.—A favorable vote
cast at the election held
Sept. 27, it is reported, on the proposition to
was
issue
$5,000 city-hall-construction bonds.
LADYSMITH,
\
•
■
Rush
County, Wis.—BONDS AUTHORIZED.—An
passed providing for the issuance of the $16,000 5%
ordinance has been
water-works-impt. bonds (V. 97, p. 756).
Denom. (40) $100, (20)
(16) $500.
Int. semi-ann.
Due $2,000 yrly. on Jan. 1 from 1927
coup,
$200,
MILLERSBURG,
No bids
Union County, Ore—BOND OFFERING .—Proposals
will be received until 8 p. m. Oct. 15, reports state,
by L. Warnick, City
Recorder, for $13,661 6% street-impt. bonds.
Int. semi-ann.
Cert,
check for 5% required.
LAMAR COUNTY (P. O.
Paris), Tex.—BONDS NOT SOLD.—We are
no sale has yet been made of the
$52,000 (unsold portion of an
$100,000) 5% 10-40-yr. (opt.) gold Precinct No. 1 road-impt.
series "2" bonds (V. 97, p. 545).
advised that
of
LAWRENCE, Essex County, Mass.—BOND SALE.—The $100,000
53^-yr. (av.) coup, paving loan bonds of 1913 (V. 97, p. 545) have
4%
been sold.
LAWRENCE
COUNTY
(P.
O.
Bedford), Ind.—BOND SALE.—On
Oct. 6 the $4,700 4Vi% gravel-road bonds (V. 97,
p. 969) were awarded,
"It is reported, to the Citizens' Tr.JCo. of Bedford for $4,701—equal to 100.021
LEE COUNTY (P. O. Fort Myers), Fla.—BOND OFFERING.—Pro¬
posals will be received until 10 a. m. Oct. 17, reports state, by Joseph W.
Sherrill, Clerk of School Trustees, for the $45,000 5% 20-yr. school bonds
voted Sept. 2 (V. 97, p. 467).
<
LEESBURG
TOWNSHIP
SCHOOL DISTRICT (P. O.
Magnetic
Springs R. F. D. No. 1), Union County, Ohio.—BOND OFFERING.—
Proposals will be received until 1 p. m. Oct. 15 by P. E. Hanson, Clerk, for
the $10,000 6% coup. bldg. bonds voted Aug. 19 (V. 97,
p. 609).
Denom.
$500.
Date Sept. 1 1913.
Int. M. & S. at First Nat. Bank, Richwood.
Due $1,000 each six months from Mar^ 1 1915 to Sept. 1 1919 incl.
Cert,
or cash on an Ohio bank for $100,
payable to Clerk, required.
Bonds
paid for on Oct. 15.
Bids must be unconditional.
check
to be delivered and
LEWISBURG, Marshall County, Tenn.—BOND SALE.—We are
advised that the remaining $5,000 of an issue of $20,000
6% 25-yr. water¬
works bonds (V. 97, p. 905) has been disposed of.
LICKING COUNTY (P. O. Newark), Ohio.—BOND
OFFERING.—
Proposals will be received until 12 m. Oct. 25 by C. L. Riley, County
Auditor, for the following assessment bonds:
$140,000
5%
road-impt.
bonds.
Denom.
$1,000.
Due
$23,000 on
Nov. 1 1915 and $14,000 yearly on Nov. 1 from
1916 to
1923, inclusive.
24,000 5>i% bridge-construction
and
improvement bonds.
Denom.
$500.
Due $12,000 on Nov. 1 1917 and 1918.
Date Nov. 1 1913. " Int. M. & N. at office of
County Treasurer.
Certi¬
fied check for 5% of bonds bid for with $140,000 issue and
bid for with $24,000 issue, payable to Pres. Board of
ers,
required.,
10% of bonds
County Commission¬
'
LIVE OAK SCHOOL DISTRICT, Santa Cruz
County, C,al.—BOND
SALE.—On Sept. 15 the $5,000 53^% school bonds
awarded to the Santa Cruz Lodge No. 824,
Denom. $500.
Date Sept. 2 1913.
Int.
(V. 97, p. 681) were
B.P.O.E., at par and int.
Sept. 2.
Due $500 yrly.
ann. on
LORAIN, Lorain County, Ohio.—BOND SALE.—An issue of $32,583
5% 4^-yr. (aver.) sewer bonds has been sold, reports state, to Tillotson
& Wolcott Co. of Cincinnati at 99.
MADISON
Holmes
received
County, Ohio.—BONDS NOT SOLD.—
Get. 6 for the $1,000
4H% 5H-yr. (aver.) East
that day. (V. 97, p. 831).
on
on
TOWNSHIP (P. O. Diamond),
Mahoning County, Ohio.—
SALE.—The $10,000 5% 6-yr.
(aver.) District No. 1 road-impt.
(V. 96, p. 1647) have been awarded to the Com¬
BOND
bonds offered on July 5
mercial Nat. Bank of
Youngstown
„Scott's
BONDS.—We
Bluff
at par.
1
County,
Neb.—DESCRIPTION
SCHOOL
MINERVA, Stark County, Ohio.r—BOND SALE.—The two issues
v 6%£oup: bonds> aggregating $5,000 (V. 97, p. 393), were awarded on
Aug. 26 to the Minerva Savs. & Tr. Co. at
104.009.
MONTGOMERY COUNTY (P. O.
Dayton), Ohio.—BOND OFFER¬
ING.—Proposals will be
received until 12 m. Oct. 14 by the Co. Commrs.,
Walter H. Aszling, Sec., for
$1,700 5% Cook ditch impt. bonds.
Auth.
Sec. 6489, Gen. Code.
Denom. $425.
Date Oct. 15 1913.
Int. A. &
at office of Co. Treas.
Cert,
check
on
O.
Due $425 yrly, on Oct. 15 from 1914 to 1917 incl.
or trust
company for $100, payable to
Bids must be unconditional.
Bonds to be delivered
any solvent bank
Co. Aud., required.
and paid for Oct. 15.
MONTGOMERY
COUNTY (P. O. Conroe), Tex.—BONDS DEFEAT¬
to reports, the question of issuing $250,000 road bonds was
defeated at the election held Sept. 20.
>
ED.—According
An ordinance
MANCHESTER, Hillsboro County, N. H.—BOND OFFERING.—
Proposals will be received until 10 a. m. Oct. 15, it is stated, for $100,000
4% refunding water bonds, due $20,000 yearly Nov. 1 from 1917 to 1921
inclusive;
MANITOU, El Paso County, Colo .—DESCRIPTION OF\ BONDS.—
are advised that the $10,000 5% water-works-ext.
bonds awarded to
Springs, on Sept. 16 (V. 97, p. 905) are in the
We
T. P. C. Pease, of Colorado
denomination of $1,000 and bear date of Oct. 1 1913.
Oct. 1 1928, subject to call after Oct. 1 1923.
NEWCASTLE, Weston County, Wyo.—BOND OFFERING.—Pro¬
posals will be received until 8 p. m. Oct. 15 by H. S. Slie, Town
Clerk, for
$4,000 6% 10-yr. coupon sewerage-constr. bonds.
Denom. $500.
Date
Nov. 1 1913.
Int. J. & J. at office of Town Treas.
of bid required.
'
Otis
&
610).
p.
of Cleveland
at
100.35 and int.
Cincinnati bid 100.11.
.
Marion
MARION,
County,
will be received until 12
m.
Oct.
5% smallpox-epidemic bonds.
M. & S.
Int. A. & O.
Due
Davies-Bertram Co.
of
•
•
Campbell County, Ky .—BONDS NOT YET SOLD.—
advised that no sale has yet been made of the $39,500
(unsoldpor¬
tion of an issue of $50,000) 4% 30-year
coup,
are
street-improvement bonds
offered
on
July 16 (V. 97,
546).
p.
NEW YORK CITY.—BOND SALE.—Issues of
$500,000 3% assessment
bonds maturing in 1914 and $650,000
3}4% bonds for various municipal
purposes maturing in 1922, were purchased at par by the
Sinking Fund of
this city during September.
„
The
following short-term securities
notes) were issued during
stock
Rev. Bonds 1913. Int.
Current enpens.4%
Current expens_4 13-16
Current expehs.4%
Current expens_45i?
Current expens_4M
Current expens_4%
Current expens_4
Current expens_3M
Special
Special
4\4'
__3
__
Rev. Bills 1913—
Current exps. .*4%
Current exps__*4<Hj
Current
Current
Current
Current
Current
Current
exps__*4 9-16
exps--*4H
exps_'_*4H
exps_J*4 3-10
exps __*4M
exps._*4Vs
Total
(revenue bonds, bills and corporate
September:
Amount
$150,000
500,000
150,000
310,000
5,025,000
176,000
2,500,000
6,150,000
100,000
200,000
00
00
00
00
00
00
00
00
00
00
488,222
297,212
98,950
1,285,988
1,591,633
247,437
£248,078
£719,402
61
33
00
35
—-
56
68
77
40
-
Corp. Stock Notes. Int.
mun. purp.4 %
mun. purp.4 13-16
Var. mun. purR.4^
Var. mun. purp.4 2-6
Var. mun. purp.4 >6
Var. mun. purp.4
Var. mun. purp.3H
Var. mun. purp.3
Var. mun.purp.*4.95
Var. mun.purp.*4 26
Var. mun.purp.*4H
Var. mun.purp. *4 %
Water ---„--,,_4
Water
3\4
MARION COUNTY (P. O. Indianapolis), Ind.—BONDS
NOT SOLD
—No bids were received on Oct. 1, It is stated, for the $6,000
414% 10-vear
road bonds offered on that day (V. 97, p. 831).
3/0 iV^year
MARSHALL
COUNTY
(P.
are
O.
Plymouth), Ind.—AMOUNT OF
advised that the amount of
4\4 % gravel-
road bonds purchased by Miller & Co. of Indianapolis on
Sept. 23'at
and int. was $54,660 and not $50,000 as reported in V. 97,
amount includes
$14,550 E.
See V.
97,
E.
p.
$13,950. L. Knepp road, $13,200 I. T.
p.
757.
Pershing
nar
This
road and
Atmentrout road bonds recently offered without
success
757.
'
MATAMORAS (P. O. New
—BOND
*
Matamoras), Washington County. Ohio
OFFERING.—Proposals will be received until 12 m. Oct
Hanlon, Vil. Clerk, for the following 5%
paving bonds:
$4,000 Main St. bonds.
Denom. $400.
2,000 Main St. bonds.
Denom. $250.
2,000 Front St. bonds.
Denom. $250.
2,500 Second St. (village's portion) bonds.
Denom. $250.
R. L.
Date Oct. 1 1913.
27 hv
Int. A. & O.
payable to Vil. Clerk, required.
5 days from time of award.
Cert, check for 10% of bonds
bid for
Bonds to be delivered and paid for within
COUNTY (P. O. Eagle
Pass), Tex.—AMOUNT
VOTED.—Reports state that the amount of bonds voted
at
$25,000, and not $20,000 as first reported (V
election held Sept. 8 was
p.
969).
MECKLENBURG COUNTY
NOT SOLD.—We
are
the $110,000 4H %
p.
(P. O.
Charlotte), No.
Car.
OF
the
97
BONDS
advised that up to Oct. 4 no sale had
yet been made nf
30-yr. special-impt. bonds offered
253.)
on
August 9.
(V. 97,
.
MEDFORD,
Middlesex
County,
Water
3
Water
__
Rapid
Rapid
—
to
1931 incl.
__*4>£
500,000 00
150,000 00
1,500,000 00
500,000 00
1,000,000 00
3,901,271 24
488,469 20
99,166 64
1,992,538 53
1,000,000 00
1,000,000 00
1,700.000 00
99,223 29
transit-.4
transit-*4.95
1,050,000 00
975,317 80
-—'--.$43,254,419 90
-
*
pany
the bonds when delivered, without charge, to the purchaser.
NORWOOD, Hamilton County, Ohio.—BOND SALE.—The following
bids
were
offered
received for the three issues of 20-yr. bonds, aggregating $128,000
Oct. 6 (V. 97, p. 681):
on
$105,000
Total
A. E. Aub & Co.
Cincinnati
------
Due $1,000 yearly from 1914
Field, Longstreth & Richards, Cincinnati—•
Western-German Bank, CincinnatiCentral Tr. & Safe Deposit Co., Cincinnati!
Tillotson & Wolcott Co., Cleveland:
/
Fifth-Third Nat. Bank, Cincinnati
Weil, Roth & Co., Cincinnati-—w
Breed, Elliott & Harrison, Cincinnati
Hoehler & Cummings, Toledo
Stacy & Braun, Toledo
_
IV. IV. &
$128,000
*$133,021 00
132,830 00
132,557 00
,132,500 00
132,442 50
132,231
132,018
130,048
129,528
00
v
109,431 00
00
00
50
1—
Davies-Bertram Co.. Cincinnati
Elect. Bds.
•
107,887 50
109,378 50
108,183 00
All bidders offered accrued interest in addition to their bids.
♦Successful bid.
'
;
.
NUECES COUNTY (P. O. Corpus
—The question of issuing
on Oct. 25, reports state.
Christi), Tex.—BOND ELECTION.
$125,000 road bonds will be submitted to a vote
OMAHA, Neb.—NO BOND ELECTION AT PRESENT.—'The city's
legal department has decided that the election called for Nov. 4 to vote on
the home-rule charter and the issuance of $200,000 library and $225,000
auditorium bonds cannot be held until January or February.
City Attor¬
ney Rine held that since the election fund is exhausted and no emergency
exists the Council cannot .without being guilty of mal-feasance in office,
transfer money from any other fund to pay the expenses of this
election.
Further, the City Attorney believes that constitutional home rule amend¬
ment fixes no specific time for an election and therefore it is not
imperative
to hold the special election this fall.
Orange
SHORTLY.—The
Deputy
County,
Fla.—BONDS TO BE OFFERED
City Clerk under date of Sept. 30 advises us
August 19
that the $100,000 5% 30-yr. coupon street-paving bonds voted
V. 97, p. 610) will shortly be offered for sale.
OWEN COUNTY (P. O. Spencer), Ind.—BOND OFFERING.—Pro¬
posals will be received until 2 p. m. Oct. 13 by Harry B. Williams, County
Treas., reports state, for $12,005 60 4M % hlghway-impt. bonds.
COUNTY SCHOOL DISTRICT NO. 32, Wash.—BOND
10-20-yr. (opt.) gold coup, high-school-bldg. bonds
Sept. 20 (V. 97, p. 758) have been sold to the State of Washing¬
ton at par for 4Hs.
PACIFIC
SALE.—The $75,000
Mass.—LOAN
OFFERING
Pro¬
posals will be received until 9a.m. Oct. 14, reports state,
by the City-Treas
for a loan of $50,000 maturing April 3 1914,
issued in anticipation of taxes.'
METHUEN, Essex County, Mass.—BOND SALE.—On
Oct 7 the
following 4\4% school bonds dated Aug. 1 1913 were
awarded to*E
M
Farnsworth & Co. of Boston at 102.92, it is stated:
'
*
$36,000 school bonds (V. 97, p. 969).
Due $2,000 yearly from 1914
4,000 school bonds.
$750,000 00
350,000 00
5,000,000 00
Var.
Rate of discount; figures in "Amount" column represent
proceeds of
x Payable in (£) sterling.
NORTHAMPTON, Hampshire County, Mass.—BOND OFFERING.—
Proposals will be received until 12 m. Oct. 13 by Geo. W. Clark, City Treas..
for $10,000 4}4% coupon tax-free sidewalk-constr. bonds.
Denom. $1 ,Q00.
Date Oct. 1 1913.
Int. A. & O. at Hampshire Co. Nat. Bank, North¬
ampton.
Due $2,000 yearly on Oct. 1 from 1914 to 1918 incl.
These
bonds will be certified as to genuineness by the Old Colony Trust Co. and
they will further certify that the legality of this tissue has been approved
by Ropes, Gray and Gorham Of Boston, a copy of whose opinion will accom¬
ORLANDO,
MAVERICK
BONDS
Amount.
Var.
Seasongood & Mayer, Cincinnati
.
Ohio.—BOND 'OFFERING.—Proposals
24 by H. E. Mason,
City Aud., for $2,500
Denom. $500.
Date Sept. 1 1913.
Int
Due $500 each six months from Mar. 1 1915 to
Mar* 1 1917 incl.
Cert, check for $125, payable to City Treas., required.
BONDS PURCHASED.—We
>
NEWPORT,
We
Portage County, Ohio.—BOND SALE.—On Oct. 6 the
of 5% bonds, aggregating $60,000 (V. 97,
p. 831), were awarded
Co.
Cert, check for 2>£%
NEWKIRK SCHOOL DISTRICT (P. O.
Newkirk), Ray County,
Okla.—BONDS NOT SOLD.—No sale has yet been made of the
$50,000
5% coup, taxable building bonds being offered at private sale.
(V. 97,
MANTUA,
two issues
AUTHORIZED.—
was passed Sept. 19
providing for the issuance of $52,061 38
5% 15-year coup, funding bonds.
Denom. (51) $1,000, (1) $900, (1)
$161 38.
Date Oct. 1 1913.
Int. A. & O. at office of fiscal
agency of
State of Okla. in N. Y. City, or in the event of the
discontinuance of such
an agency, then at the office of the
State Treasurer of Oklahoma.
NEOSHO COUNTY SCHOOL DISTRICT NO. 5
(P. O. Erie), Kan.
—BONDS TO BE ISSUED SHORTLY.—This
district will shortly issue
$10,000 5% bldg. bonds.
loan after deducting discount,
DISTRICT
(P. O. Madison), Dane County,
Wis:—BONDS PROPOSED.—According to newspaper reports, this district
is contemplating the issuance of $100,000 bldg. bonds.
to
OF
advised that the $14,500 6%
5-20-yr. (opt.) water-works
bonds voted Aug. 2 (V.
97, p. 545) are in the denomination of $500 and
bear date of Sept. 1 1913.
Int. M. & S
are
MUSKOGEE, Muskogee County, Okla.—BONDS
LA GRANDE,
issue
were
Jackson St. bonds offered
1934 incl.
to
COUNTY (P. O.. Cameron), Tex.—BOND
SALE.—Report8
$50,000 5% 10-40-year (opt.) road bonds
registered on June 23
a contractor at
par and interest.
(v. 97, p. 68) have been sold to
SALE.—An issue of $30,000
on Sept. 1 to the West Ten¬
Denom. $500.
Date Sept. 1 1913.
par.
xcvii.
state that the
Aug. 30 (V. 97,
6%
nessee
Mil.AM
[Vol.
offered
PALACIOS, Matagorda County, Tex.—BONDS VOTED.—The pro¬
$10,000 street-impt. bonds carried.it is stated, at the elec¬
position to issue
tion held Oct. 1.
PARKE COUNTY (P.
.
O.
■
"
on
„
Rockville), Ind.—BONDS AWARDED IN
PART.—Of the two issues of 4H%
offered
to 1917 incl.
on
road-impt. bonds, aggregating $11,115
5)^-yr. (av.) A. A. Drake bonds
Sept. 6 (V. 97, p. 610), $3,650
have been awarded to local investors at par;
It is stated.
Oct. 11
CHRONICLE
THE
1913.]
PELHAM, Westchester County, N.. Y—BOND OFFERING.—Reports
Vil. Clerk, will receive proposals until 8 p. m.
Oct. 22 for $20,000 street-impt. bonds.
Cert, check for $400 required.
STEGE SANITARY DISTRICT (P. O. Stege), Contra Costa County,
Calif.—BONDS VOTED.—The proposition to issue $75,000 sewer bonds
recently carried, reports state, by a vote of 209 to 9.
(P. O. Peoria), Peoria Coun¬
111.—BONDS VOTED.—The questions of issuing the $210,000 highschool and $90,000 Eighth Ward school-bldg. bonds (V. 97, p. 758) carried,
reports state, at the election held Sept. 27 by a vote of 1.640 to 263.
According to reports the vote was
state that L, M. Simonson,
PEORIA SCHOOL DISTRICT NO. 150
ty,
County,
W. Va.—BONDS DECLARED IL¬
LEGAL.—The City Clerk advises us
that the $15,000 6% 10-15-year (opt.)
PHILLIPPI,
coup,
Barbour
municipal bonds offered without success on Aug. 25 (V. 97, p. 610)
illegal because of an error found in thd election pro¬
have been declared
ceedings.
v./'
.
'
-
.
.Y
.
:■/"/./
PHOENIX, Maricopa County, Ariz.—BOND ELECTION.—An elec¬
tion will be held to-day (Oct. 11) to vote on the question of issuing $125,000
funding, $25,000 public-park-site-purchase, $25,000 street-improvement
and $75,000 fire-department-improvement bonds.
PITTSBURG, Hickory County, Mo.—RESULT OF BOND ELECTION
30 the propositions to issue the following bonds
voted upon as follows:
Bonds Voted.
For.
Against.
—At the election held Sept.
was
861
$22,000 School-improvement bonds
Bonds Defeated.
$6,000 Lakeside Park purchase bonds
12,000 Fire-station-construction bonds
608
.*
,
—336
—482
„.
—;
1,120
990
PITTSTON, Luzerne County, Pa .—BONDS NOT SOLD.—The City
sale has yet been made of the $5,000 5% bonds
Treas. advises us that no
offered
Aug. 30.
on
Pittston), Luzerne County,
25 $70,000 4lA% 30-vr. additional-bldg.
Briggs & Co. of Philadelphia at par. Denom.
Int. M. & S.
SALE.—On Sept.
Pa.—BOND
Date Sept. 1 1913.
$500.
POMONA, Los Angeles County, Calif.—BONDS VOTED.—The ques¬
and $15,000 fire-apparatus 5% 20year bonds (V. 97, p. 546) carried at the election held Sept. 30 by a vote of
2,931 to 705.
tion of issuing the $75,000 street-impt.
PONTIAC, Oakland County, Mich.—BOND SALE.—On Oct. 6 the
$35,000 5% 13>i-year (aver.) gold water-works bonds (V. 97. P- 970) were
awarded to the Harris Tr. & Savs. Bank of Chicago for $35,750 (102.142)
and
Other
int.
bidders
were:
Co., Ch_.$35,576 50 Bolger, Mosser & Willaman,
Chicago
$35,275
Spitzer, Rorick & Co., Tol. 35,390 00
Hoehler & Cummings, Tol. 35,377 50 Detroit Trust Co., Detroit.. 35,210
N. W. Halsey &
—
Am.
Sav. Bank,
Pontiac
35,150
I.—NOTES AUTHORIZED.—Local papers state
was passed providing for the issuance of $500,000
school-building and equipment notes at not exceeding 6% int.
PROVIDENCE,
that
on
Oct. 6
a
R.
resolution
RAVALLI COUNTY (P. O. Hamilton),
Mont.—BOND OFFERING.—
Additional information is at hand relative to the offering on Nov. 3 of the
$55,000 20-yr. refunding bonds at not exceeding 6% int. (V. 97, p. 970).
Proposals for these bonds will be received until 1 p. m. on that-day by
Albert J.;Hork. Co. Clerk.
Denom. $1,000.
Int. J. & J. at office of.Co.
Treas.
Cert, check for $1,000, payable to H. L. Hart, Co. Treas., required.
Pulaski County, Ind.
reports, the $8,000 5%
RICH GROVE TOWNSHIP (P. O. Dunham),
—BOND
SALE.—According
to
local newspaper
10-yr. schcol-bldg. bonds offered on Sept. 20 (V. 97, p.'632) have
M. Campbell, Sons & Co. of Indianapolis at 101.925.
been sold
to E.
ROBSTOWN INDEPENDENT SCHOOL DISTRICT, NueceB Coun.
ty, Tex.—BONDS NOT YET SOLD.—We are adviced that no sale has ye
made of the $20,000 5% 10-40-yr. (opt.) bldg. bonds mentioned in
V. 97. p. 610.
been
ROCKDALE, Milam County, Tex.—BONDS NOT SOLD.—No sale
made on Sept. 15 of the $27,000 5% water-works bonds offered on that
610).
We are advised that these bonds are now being offered
at private sale.
question of issuing $15,000
STILLWATER COUNTY (P. O. Columbus),
Mont.—BOND OFFER¬
information is at hand relative to the offering on Nov. 4
6% gold coup. funding bonds (V. 97, p. 970).
Proposals for
these bonds will be received until 3 p. m, on that day by Lloyd D. Barley,
County Clerk and Recorder.
Auth. Sees. 2905 to 2926, Rev. Code of
Montana, 1907.
Denom. $500.
Date Nov. 1 1913.
Int. J. & J. at
the Co. Treas. office.
Due in 20 years, subject to call any interest period
after Jan. 1 1924.
An unconditional cert, check for $1,000, payable to
ING.— Additional
of the $90,000
required.
County Treas.,
■
•
•
SUPERIOR, Douglas County, Wis.—BOND SALE.—The remaining
$37,800 of the $65,000 4A % 20-yr. school bonds (V. 97, p. 683) have been
disposed of over the counter at par.
BONDS AWARDED IN PART.—We are advised that of the $9,000
4A% 10-yr. sewer-const, bonds recently offered without success (V. 97,
p. 683) about $4,000 have been sold at par and int.
Date July 1 1913.
J. & J.
Int.
SUPPLY,
state that the
Woodward County, Okla.—BONDS
VOTED.—Reports
question of issuing $19,000 water-works and electric-Ught-
system-installation bonds carried at a recent
election.
N. Y.—BOND OFFERING.—Proposals will be received
21, it is stated, by the City Comptroller for $220,000
paving and $23,000 sidewalk and street-grading funding bonds.
SYRACUSE,
until
PITTSTON SCHOOL DISTRICT (P. O.
bonds were awarded to P. S.
Wash.—BONDS DEFEATED.—On
school-building bonds was defeated.
84 "for" and 104 "against."
County,
Pierce
STEILACOOM,
Oct. 3 the
an
Oct.
12 m.
TAMA, Tama County, Iowa.—BOND SALE.—According to reports,
issue of $60,000 5% school bonds has been awarded to G. M. Becntel &
and interest.
>
Co. of Davenport at par
O. Amite), La..—BOND ELECTION.—
question of issuing the $75,000 Hammond road
TANGIPAHOA PARISH (P.
The elec ion to vote on the
97,
district bonds (V.
TEXAS.—BONDS
p.
907) will be held on Nov. 8, it is s.a.ed.
BY
PURCHASED
school-house bonds were purchased by the
STATE.—The following 5%
State Board of Education on
Sept. 10 at par and int. for the benefit of the permanent school fund;
$1,000 5-40-yr. (opt,) Athens Ind. Sch. Dist. bonds, dated Apr. 1 1913.
This is a monthly payment on the total issue of $40,000 which was contracted
for at a former meeting.
There yet remains $3,000 to be paid on this issue.
$1,000 10-40-yr. (opt.) Falls Co. County Line Com. Sch. Dist. No. 15
Feb. 15 1913.
This is the final payment on the total issue of
$11,800 which was contracted for at .a former meeting.
$1,000 20-40-yr. (opt.) City of Gonzales bonds, dated Apr. 1 1913.
This
is a monthly payment on the total issue of $30,000 which was contracted
for at a former meeting.
There yet remains $4,000 to be paid on this issue.
$1,200 10-20-yr. (opt.) Celeste Ind. Sch. Dist. bonds, dated Apr. 5 1913.
This is the final payment on the total issue of $12,000 which was contracted
for at a former meeting.
$1,000 5-40-yr. (opt. )Irving Ind. Sch. Dist. bonds, dated Feb. 1 1913.
This is a monthly payment on the total issue of $13,000 which was contract¬
ed for at a former meeting.
There yet remains $1,000 to be paid on this
bonds, dated
issue.
•
$1,000 20-40-yr. (opt.) Bexar County Com. Sch, Dist. No. 40 bonds, dated
Apr. 10 1913.
This is a monthly payment on the total issue of $21,000.
There
yet remains $3,000 to be paid on this issue.
$2,000 10-20-yr. (opt.) Kingsville Ind. Sch. Dist. bonds, dated May 1
1913.
This is a monthly payment on the total issue of $40,000 which was
contracted for at a former meeting.
There yet remains $9,000 to be paid
on this issue.
$1,000 5-40-yr. (opt.) Giddings Ind. Sch. Dist. bonds, dated Feb. 1 1913.
a monthly payment on the total issue of $20,000 which was contracted
a formet meeting.
There yet remains $3,000 to be paid on this issue.
This is
for at
$1,000 5-40-yr. (opt.) Dallas County Com. Sch. Dist. No. 39 bonds, dated
10 1913.
This is a monthly payment on the total issue of $8,500
was contracted for at a former meeting.
There yet remains $1,000
was
Mar.
day (V. 97. p.
which
.
DISTRICT (P. O. Round
Williamson County, Tex.—BOND OFFERING.—E„ M. Black.
Sec., is offering at private sale the $29,000 5% 20-40-yr. (opt.) bldg. bonds
voted July 17 (V. 97, p. 395).
Denom. $1,000.
Date Aug. 10 1913. Int.
ann. at office of State Treas. or Nat. Bank of Commerce, N. Y.
Bonded
ROUND ROCK INDEPENDENT SCHOOL
Rock),
debt,
this issue; floating debt, none.
RUSH
COUNTY
(P. O. Rushville), Ind.—BOND SALE.—On Oct.8
the $60,000 4A% flood bonds (V.
97,
J. F. Wild & Co. of Indianapolis for
p. 682) were awarded, it is stated, to
$60,935 50 (101.559) and interest.
RUSHVILLE, Rush County, Ind.—BOND SALE.—Reports state
of $60,000 4 A % flood bonds has been awarded to J. F. Wild
$60,935 50 (101.559) and interest.
that an issue
& Co. of Indianapolis for
ST. MARYS, Auglaize County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 12 m. Oct. 31 by J. F. Boltz, City Aud., for
$5,000 5A% motor-hose-truck bonds.
Denom. $500.
Date Oct. 1 1913.
Int. A. & O. at office of Sinking Fund Trustees.
Due $500 yrly. on Oct. 1
from 1915 to 1924 incl.
Cert, check on a St. Marys bank for 2% of bonds
bid for, payable to City Treas., required.
Bids must be made on forms
furnished by the City Auditor. ■
SALT LAKE CITY SCHOOL DISTRICT (P. O. Salt Lake City),
Salt Lake County, Utah.—BOND SALE.—We are advised that the $200,000 4 A % 20-yr. gold coupon bldg. bonds offered without success on July 14
(V. 97, p. 255) have been sold.
SALE.—Reports state that the nineissues
aggregating $3,450,000 offered on Oct. 2
832) have been awarded jointly to the Continental & Commercial
Trust & Sav. Bank, A. B. Leach & Co., E. H. Rollins & Sons, N. W. Halsey
& Co. of Chicago and Kountze Bros, pf N. Y.
SAN ANTONIO, Tex.—BOND
of 5% 40-yr. (ser.) coupon bonds,
(V. 97,
p.
■SANDUSKY COUNTY (P. O. Fremont), Ohio.—BOND SALE.—On
Oct. 4 the $11,500 5% Port Clinton road Sec. No. 2 constr. bonds (V. 97,
p. 907) were awarded to the First Nat. Bank of Fremont for $11,512
(100.104) and int.
Breed, Elliott & Harrison of Cin. bid $11,501.
to be
paid on this issue.
10-40-yr. (opt.) DeWitt County Com. Sch. Dist. No. 40 bonds,
Dec. 1 1912.
This is a monthly payment on the total issue of $15,000
which was contracted for at a former meeting.
There yet remains $3,000
$1,000
dated
to be
paid
this issue.
on
■
$900 10-20-yr. (opt.) Bosque County Com. Sch. Dist. No. 13 bonds, dated
Apr. 10 1913.
This is the final payment on the total issue of $7,500 which
was contracted for at a former meeting.
$950 10-40-yr. (opt.) Eddy Ind. Sen. Dist. bonds, dated Juno 2 1913.
This is a monthly payment on the.total issue of $19,000 which was contract¬
ed for at a former meeting.
There yet remains $6,175 to be paid on this
issue.
.
$1,000 20-40-yr. (opt.) Nevada Ind. Sch. Dist. bonds, dated May 1 1913.
a monthly payment on the total issue of $17,100 which was contract¬
ed for at a former meeting.
There yet remains $4,000 to be paid on this
issue.
'
This is
$2,000 10-40-yr, (opt.) New Braunfels Ind. Sch. Dist. bonds, dated
July 1 1913.
This is a monthly payment on the total issue of $44,000
a former meeting.
There yet remains $28,000
which was contracted for at
to be
paid
on
this issue.
$1,000 25-40-yr. (opt.) Carson Co. Corn. Sch. Dist. No. 10 bonds, dated
This is a monthly payment on the total issue of $8,000 which
was contracted for at a former meeting.
There yet remains $2,000 to bo
paid on this issue.
$1,000 20-40-yr. (opt.) Harris Co. Com. Sch. Dist. No. 23 bonds, dated
Apr. 19 1913.
This is a monthly payment on the total issue of $10,000
which was contracted for at a former meeting.
There yet remains $4,000
to be paid on this issue.
$1,000 10-40-yr. (opt.) Blue Ridge Ind. Sch. Dist. bonds, dated May 1
1913.
This is a monthly payment on the total issue of $6,500 which was
contracted for at a former meeting.
There yet remains $1,500 to be paid
Oct. 1 1911.
this issue.
on
$1,000 20-40-yr. (opt.) Angelina Co. Com. Sch. Dist. No.-41 bonds,, dated
May 12 1913.
This is a monthly payment on the total issue of $8,500
contracted for at a former meeting.
There yet i'emains $3,000 to be paid
this issue.
on
•
(P. O. Watkins), N. Y.—BOND SALE.—
highway bonds (v. 97, p. 907) were awarded
to Douglas Fenwick & Co. of N. Y. at par.
Denom. $1,000.
Int.M.&S.
Due $3,000 yearly from 1914 to 1925 incl.
$2,000 1-40-yr. (opt.) Normangee Ind. Sch. Dist. bonds, dated May 15
This is a monthly payment on the total issueAbf $lO,000 wliich was
contracted for at a former meeting.
There yet remains $2,800 to be paid
on thi's issue.
*
SCOTT COUNTY (P. O. Scottsburg), Ind.—BOND SALE.—The
$8,800 4A% 5H-yr. (aver.) L. McClain el al road bonds offered without
Aug. 16 (V. 97, p. 547) have been sold, it is stated, to the Fletcher
American Nat. Bank qf Indianapolis at par and interest.
which
SCHUYLER
COUNTY
On Oct. 2 the $36,000 4A%
Success on
SHELBY, Richland County,
Ohio.—BOND SALE.—On Oct. 4 the
$4,000 5% 1-8-yr. (ser.) Second St. impt. bonds (V. 97, p. 832) were award¬
ed to the First Nat. Bank of Shelby at par and int.
There were no other
bidders.
■./,
SHERIDAN, Hamilton County, Ind.—BOND SALE.—On Oct. 7 the
$6,000 city-hall-erection bonds were awarded to E. M. Campbell, Sons &
Co. of Indianapolis for $6,040, equal to 100.666.
SHERMAN (Town) UNION FREE SCHOOL DISTRICT NO. 5,
(P. O. Sherman), Chatauqua County, N. Y.—BOND SALE.—On
Sept. 17 the $35,000 5% 12 1-3-yr. (aver.) reg. bldg. bonds (V. 97, p. 682)
were awarded to Bumpus & Co. of Detroit at par.
Date Oct. 1 1913.
SIDNEY,
Cheyenne
County,
Neb.—BIDS
REJECTED.—'The fol¬
lowing bids received on Oct. 1 for the $22,500 6% electric-light and steamheating-system bonds offered on that day (V. 97, p. 611) were rejected.
Causey, Foster & Co., Denv_$22,512| Spitzer, Rorick & Co., Tol._$22,500
SOUTH
BETHLEHEM, Northampton County, Pa.—BOND SALE.—
(opt.
The following bids were received for the $32,000 4A% 15-30-year
tax-free street-impt. bonds offered on Oct. 6 (V. 97, p. 907)*
Montgomery, Clothier & Tyler, Philadelphia.
Newburger, Henderson & Loeb, Philadelphia
Harris, Forbes & Co., New York_-_
Mellon National Bank, Pittsburgh
C. C. Harrison Jr. & Co., Philadelphia
Reilly, Brock & Co., Philadelphia.
Heyl & Co., Philadelphia
Co., South Bethlehem
*
All bidders offered accrued interest in addition to their
....
32,000 00
E. F. Wilbur Trust
SPRINGFIELD,
—On Oct.
60
00
24
00
32,094 40
-32,093 12
32.025 00
$32,329
32,255
32,218
32,192
bids.
Hampden County, Mass.—-BONDS AUTHORIZED.
9 the Board of Aldermen authorized the issuance of $1,000,000
school building bonds, according to local papers.
1913.
$1,000 10-40-yr. (opt.) Frio Co. Com. Sch. Dist. No. 13 bonds, dated
Apr. 10 1913.
This is a monthly payment on the total issue of $7,000
was contracted for at a former meeting.
There yet remains $2,000
to be paid on this issue.
$2,000 20-40-yr. (opt.) Longview Ind. Sch. Dist. bonds, dated June 24
1913.
This is a monthly payment on the total issue of $10,000 which was
contracted for at a former meeting.
There yet remains $3,000 to be paid
this issue.
on
.
<
,
$1,500 5-40-yr. (opt.) Edna Ind. Sch. Dist. bonds, dated April 10 1913.
a monthly payment on
the total issue of $8,000 which was con¬
tracted for at a former meeting.
There yet remains $2,000 to be paid
This is
this issue.
on
(opt.) Sour Lake Ind. Sch. Dist. bonds, dated May 1
monghly payment on the total issue of $5,000 which was
a former meeting.
There yet remains $1,000 to be paid
$1,000 10-20-yr.
1913.
This is
a
contracted for at
this issue.
on
$1,000 10-20-year (opt.) Matagorda Co. Com. Sch. Dist. No. 2 bonds,
April 15 1913.
This is a monthly payment on the total issue of
$5,000 which was contracted for at a former meeting.
There yet remains
$1,000 to be paid on this issue.
$1,000 10-20-year (opt.) Matagorda Co. Com. Sch. Dist. No. 14 bonds,
ated March 14 1913.
This is a monthly payment on the total issue or
$5,000 which was contracted for ao a former meeting.
There yet remains
$1,000 to be paid on this issue.
dated
$1,000 1-40-yr. (opt.) Angleton Ind. Sch. Dist. bonds, dated May 1 1913.
a monthly payment on the total issue of $15,000 which was con¬
a former meeting.
There yet remains $7,000 to be paid
This is
tracted for at
this issue.
on
$1,000 10-40-yr. (opt.) Mineola Ind. Sch. Dist. bonds, dated Apr. 1 1913.
a monthly payment on the total issue of $17,500 which
was con¬
tracted for at a former meeting.
There yet remains $9,500 to be paid
This is
this issue.
on
$1,000 10-40-yr, (opt.) Willow Grove Ind. Sch. Dist. bonds, dated July 1
This is a monthly payment on the total issue of $8,000 which was
1913.
| contracted for at
on
this issue.
a
former meeting.
There yet remains $2,000 to be paid
v
1064
THE
CHRONICLE
$1,000 10-40-yr. (opt.) Nally Ind. Sch. Dist. bonds, dated Mar. 1 1913.
This is a monthly
payment on the total issue of $5,000 which was contracted
for at a former meeting.
There yet remains $1,000 to be paid on this issue.
$1,050 10-40-yr. (opt.) Star Ind. Sch. Dist. bonds, dated June 15 1913.
This is a monthly payment on the total issue of
$6,000 which was contracted
for at a former meeting.
There yet remains $1,950 to be paid on this issue.
$2,000 5-40-yr. (opt.) Goldthwaite Ind. Sch. Dist. bonds, dated June 1
1913.
This is a monthly payment on the total issue of
$15,000 which was
contracted for at a former meeting.
There yet remains $5,500 to be paid
df^?os\d of6 ^
UNION
Denom. $1,000.
Date Oct. 1 1913.
Elizabeth.
Cert, check on an
(opt.)
The official notice
of this bond
-
ments
or
hopsital bonds.
trust
offering will be found among the advertise¬
elsewhere in this Department.
UTICA, Oneida County, N. Y.—BONDS
AUTHORIZED.—Reports
that; an
ordinance
$12,000
was
passed
electnc-subway-constr.
on
Oct. 3 providing for the issuance of
bonds.
CERTIFICATES
AUTHORIZED.—The Council also authorized
issuance of $5,000
subway certificates'of indebtedness.
*
UVALDE, Uvalde County, Tex.—BONDS PROPOSED.—Tins
on the total issue of $10,000 which was con¬
former meeting.
There yet remains $8,000 to be paid
$1,000 10-20-yr.
or reg.
at Nat. State B,ank of
company for
2% of bonds bid for, payable to the Board of
Chosen Freeholders, required.
to pay accrued
interest.
The bonds will be certified as to
gen¬
uineness by the
Columbia-Knickerbocker Trust Co., N. Y., and the legal¬
ity of the bonds will be approved
by Hawkins, Delafield & Longfellow of
N. Y., whose opinion will be
furnished the purchaser.
monthly payment
a
&iQ.
Purchaser
was contracted for at a former
meeting.
There yet remains $12,400 to be
paid on this issue.
$1,000 10-40-yr. (opt.) Driscoll Ind. Sch. Dist. bonds, dated May 28 1913.
a
Int. A.
incorporated bank
<
tracted for at
oh this issue.
Public-library and $40,000 public-parks bonds have been
(P. O. Elizabeth), N. J.—BOND OFFERING.—
Proposals will be received until 11 a. m.
Oct. 22 by Nathan R.
Leavitt,
$1,800 20-40-yr. (opt.) Bandera Co. Com. Sch. Dist. No. 1 bonds, dated
Apr. 25 1913.
This is a monthly payment on the total issue of $8,900
which was contracted for at a former
meeting.
There yet remains $2,600
to be paid on this issue.
:
$1,000 10-40-yr. (opt.) Spur Ind. Sch. Dist. bonds, dated Feb. 1 1913.
This is a monthly payment on the total issue of
$5,000 which was contracted
for at a former meeting of the Board.
There yet remains $1,000 to be
paid on this issue.
$2,400 Strawn Ind. Sch. Dist. bonds, dated July 1 1913, due 1 each year;
no option.
This is a monthly payment on the total issue of $16,000 which
This is
xcvii.
COUNTY
County Collector, for $125,000
4J^% 30-year cohp.
this issue.
on
[Vol.
the
city,
informed, is proposing to issue $25,000 sewer bonds.
COUNTY SCHOOL DISTRICT NO.
8, Mont.—BOND
$3,500-6% 10-20-yr. (opt.) bldg. bonds offered on Sept. 17
(V. 97, p. 683) have been awarded to the State of
Montana at
we are
VALLEY
Williamson Co. Com. Sch. Dist. No. 65 bonds,
—The
dated June 10 1913.
This is the final payment on the total issue of $2,000
which was contracted for at a former
meeting.
par.
$2,000 15-40-yr. (opt.) City of Wolfe City bonds, dated July 1 1913.
This
a monthly payment on the total issue of
$9,500 which was contracted
a former meeting.
There yet remains $6,500 to be paid on this issue.
$2,000 10-40-yr. (opt.) Decatur Ind. Sch. Dist. bonds, dated July 10 1913.
This is a monthly payment on the total issue of
$27,000 which was contract¬
ed for at a former meeting.
There yet remains $24,000 to be paid on this
VALLEY
TOWNSHIP
SCHOOL DISTRICT
(P.
O.
Derwent),
Ohio—BONDS TO BE RE-OFFERED SHORTLY.We are advised by the Clerk
Bd. of Ed., under date of Oct. 6 that the
$15,000 5% 15-yr. bldg. bonds offered
without success on Aug. 18 (V. 97,
p. 548) will be re-olfered for sale some time
next month.
is
Guernsey County,
for at
WAKE COUNTY (P. O.
Raleigh),
Oct. 6 the $75,000 5%
30-year
$1,000 5-40-yr.
(opt.) Kennedale Ind. Dist. bonds, dated Apr. 10 1913.
The total issue of $6,000 was contracted for at this time to be
paid in
were
monthly installments.
$3,000 Seguin Ind. Sch. Dist. bonds, dated June 10 1913, due six each
The total issue of $48,000 was contracted for at this time to be
paid in monthly installments.
'
V
$1,000 40-yr. Klondyke Ind. Sch. Dist. bonds, dated July 1 1913.
The
total issue of $10,000 was contracted for at this time to be
paid in monthly
awarded to
were
No.
Caro .—BOND
SALE.—On
coup, county-home bonds (V. 97, p. 833)
Sons of Baltimore at 102.03.
There
11 other bidders.
Townsend, Scott &
.
installments.
;
$1,500 20-40-yr. (opt.) Comanche Ind. Sch. Dist. bonds, dated June 1
The total issue of $15,000 was contracted for at this time to be
paid
1913.
in
monthly installments.
$1,000 10-20-yr. (opt.) Limestone Co. Com. Sch. Dist. No. 1 bonds, dated
Apr. 10 1913.
The total issue of $4,000 was contracted for at this time
to be paid in monthly installments.
$1,000 10-20-yr. (opt.) Hopkins Co. Com. Sch. Dist. No. 35 bonds, dated
May 16 1913.
$1,000 10-20-yr. (opt.) Lamar Co. Corp. Sch. Dist. No. 33 bonds, dated
July 1 1913. ' The total issue of $4,000 was contracted for at this tune to
be paid in monthly
installments.
$1,000 5-20-yr. (opt.) Henderson Co. Com. Sch. Dist. No. 23 bonds, dated
Apr. 10 1913.
v; ■'
$2,000 10-20-yr. (opt.) Heath Ind. Sch. Dist. bonds, dated May 27 1913.
WARREN COUNTY
(P. O. Vicksburg), Miss.—BOND SALE.—On
5-20-year (opt.) Glass Bayou Bridge & Road bonds
97, p. 908) were awarded to Wilbur F.
King for $4,650.
The City
Savings & Trust Co. of Vicksburg bid $4,525.
Denom. $1,000 and $500.
Date Oct. 6 1913.
Interest annually in October.
•
^
Get. 6 the $4,500
5%
five years.
(V.
WAUSEON, Fulton County, Ohio.—BOND OFFERING.—Proposals
will be received until 12 m.
Nov. 3 by L. H. Deyo, Vil.
Clerk, for the fol¬
lowing assessment bonds:
$11,372 74 4fi% Elm St. impt. bonds.
Denom. (1) $542 74, (19) $570.
Int.
Due $542 74 May
ann.
months
1
1914 and $570 each six
thereafter.
4,019 00 5%
•
Leggett and Brunnejl st. sewer bonds.
Denom. (1) $819,
(4) $800. int. ann. on Nov. 1.
Due $819 Nov. 1 1914
and $800 yrly. on Nov. 1 thereafter.
Auth. Sec. 3914, Gen. Code.
Date Nov. 1 1913.
Int. at office of Vil.
Treas.
Cert, check for $200 with $11,372 74 issue and
$100 with $4,019.
payable to Vil. Treas., required.
Bonds to be delivered and paid for within
10 days from time of award.
Purchaser to pay„accrued
interest.,
.
This is
monthly payment on the total issue ot $6,000 which was contracted
for at this time to be paid for in
monthly installments. •
$2,000 20-40-yr. (opt.) Ore City Ind. Sch. Dist. bonds, dated July 15 1913.
The total issue of $8,000 was contracted for at this time to be
paid in month¬
ly installments.
•
'
$1,000 20-40-yr. (opt.) Tarrant Co. Com. Sch. Dist. No. 87 bonds, dated
Sept. 10 1913:
The total issue of $10,000 was contracted for at this time
to be paid in monthly installments.
$1,000 40-yr. Tarrant Co. Com. Sch. Dist. No. 95 bonds, dated Sept. 10
1913.
The total issue of $7,000 was contracted for at this time, to be
paid
for in monthly installments.
a
BONDS REGISTERED.—The following 5% bonds were
registered by the
State Comptroller during the week ending Sept. 13:
Amount..
Place Issued.
'
Purpose. ■
Due:
Option.
$6,000--Heath I. S. D
1.500--Hunt Co. C. S. D. No. 140
schoOl-house
20-yrs.
10 yrs.
f$75,000 payable
\
each year..
school-house
10 yrs.
None.
school-house '40 yrs.
20 yrs.
school-house
40 yrs.' None.
__school-house
15 yrs.
10 yrs.
school-house
20 yrs.
10 yrs.
Road
20 yrs.
10 yrs.
Water
40 yrs.
20 yrs.
The following 5% bonds were registered during the week
$150,000.-Taylor County—courthouse
2,600--Taylor Co. C. S. D. No. 32
school-house
125,000--Peyton Creek Irr. Dist., Mata(
gorda Co., Drainage—____
-school-house
BONDS
VOTED— The
McLennan
WEST
PARK,
Cuyahoga County,
Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Nov. 3 by F. Feuchter, Vil. Clerk,
$15,000 5%
30-yr. water-main-extension bonds.
Denom.
$1,000.
for
Date Oct. 15 1913.
Int. A. & O.
Cert, check
on
a
bank other than the
making the bid, for 5% of bonds bid for, payable to the Vil. Tyeas., re¬
Bonds to be delivered and paid for«within 15
days from time of
award.
Purchaser to pay accrued int.
These bonds were offered without
success on June 30 (V. 97,
p. 71.)
one
quired.
(P. O. New Haven), New Haven County, Conn.—
OFFERING.—Proposals will be received until 12 m. Oct. 15 for an
WEYMOUTH,
Norfolk
Date Oct. 1 1913.
Dueinl943.
County,
Mas3.—TEMPORARY LOAN.—
loan of $25,000, maturing April 2 1914, has been
nego¬
tiated with Estabrook & Co. of Boston at
4.29% discount.
,
v
Reports state that
a
WHITE RIVER LEVEE DISTRICT (P.O. Cotton
Plant), Woodruff,
Monroe and Prairie Counties, Ark.—BOND SALE.—The
$100,000
6%
16-20-yr. (ser.) gold levee bonds offered without success on June 6 (V. 97,
134) have been awarded to R. J. Edwards of Oklahoma City.
Denom.
Date July 1 1913.
Int. J. & J.
p.
$1 000.
WILDWOOD
SCHOOL
DISTRICT
(P.
O.
Wildwood), Sumter
County, Fla.—BONDS NOT SOLD.—All bids received for the $10,000 6%
5-20-yr. (ser.) coupon tax-free bldg. bonds offered on Sept. 22 (V. 97, p.611)
5 yrs.
10 yrs.
Due $5,000
rejected. •
WINNSBORO, Fairfield County, So. Caro.—BONDS VOTED.—Ac¬
cording to press reports, the proposition to issue $65,000 water-works and
sewerage bonds carried at the election held Oct. 2 by a vote of 88 to 2.
were
-jevery 5
1,000--Bexar Co. C. S. D. No. 48
—
WESTVILLE
>
I
Kans
,
WEST,
issue of $40,000 4H % school bonds.'
ending Sept. 20:
40 yrs.
20 yrs.
County,
County, Tex.—BONDS VOTED.—By a vote of
72 to 59 the question of issuing the $20,000
5% 40-year water-works bonds
(V. 97, p. 470) carried, it is stated, at the election held Sept. 30.
BOND
2,000--Tarrant Co. C. S. D. No. 60
10,000--Tarrant Co. C. S. D. No. 87
7,000--Tarrant Co. C. S. D. No. 95
l,500-_Wise Co. C. S. D. No. 60—:
l,000-_Wise Co. C. S. D. No. 61—
60,000--Trinity Co. Dist. No. 1
40,000--City Paris
100.000--Lamar Co. Precinct No. 1___
Road
40 yrs.
10 yrs.
Note.—The Lamar County Justice Precinct bonds are issued under
a
Special Act passed by the Third Called Session of the 31st Legislature.
—
Sumner
(opt.) water-works-ext.
Sept. 23 by a vote of 936
to 133.
We are advised that these bonds will be
sold at private sale as
construction prqeeeds.
v.
•,
.school-house
'
■
WELLINGTON,
question of issuing the $240,000 5%
10-30-yr.
bonds (V. 97, p. 548) carried at the election
held
yrs. beginning 1914.
20 yrs.
None
.
The following 5% bonds were registered by the State
Comptroller
the week ending Sept.
27:
—Refunding
school-house
—_schopl-house
—
23,000-_Spur I. S. D
l,000-_Winnsboro I. S. D
l,500__Rusk I. S. D
24 yrs.
•
10
10
10
10
20
40 yrs.
40 yrs.
school-house
20 yrs.
__u—-_wat.-wks. ext. 40 yrs.
—•_
10,000--City of Cameron-.
3,000--Graham I. S. D
school-house
20 yrs.
$75,000--Bishop I. S. D
school-house
"4,000--Limestone Co. C. S. D. No. 35—school-house
2,000.-Limestone Co. C. S. D. No. 94—school-house
5,000__Parker Co. C, S. D. No. 23
school-house
l,500-_Jim Wells Co. C. S. D. No. 33—school-house
6,000-_Jim Wells Co. C. S. D. No. 12—school-house
12,500--Navasota
__waterwks.
175,000--City of Fort Worth
school-bldg.
5,000__Kent Co. O. S. D. No. 73
school-house
23,000--City of Bishop
sewerage
150,000.-Bell Co. Road District No. 1__—road
1,500.-George I. S. D
:
.school-house
1,000--Anderson Co. C. S. D. No. 43-=—.school-house
6,000—Wise Co. C. St D. No. 92
school-house
2,000.-Wise Co. C. S. D. No. 80
school-house
-----
.
—
yrs.
20 yrs.
20 yrs.
10 yrs.
■
1
reg.
was
ma.de
Winsida),
on
Wayne
Aug. 30 of the
on that day
bldg. bonds offered
■
WOODBURY, Gloucester County, N. J.—BONDS AUTHORIZED.—
This
These bonds will not be offered for sale for
yrs.
.
city
recently
authorized
the
issuance
WOODBURY COUNTY (P. O. Sioux
On Oct. 6 the $80,000 6% tax-free
of
$30,000
some
filtration
bonds.
time.
City), Iowa.—BOND SALE.—
Drainage District No. 2 bonds (V. 97,
6 971) were yearly on Nov. 1 from 1914 to 1918, inclusive.
$16,000 awarded, it is reported, to Parson, Son & Co. of Chicago,
ue
40 yrs.
40 yrs.
Canada, its Provinces and Municipalities.
ALBERTA.—NEW LOAN.—Cable advices from London state that
underwriting arrangements are in progress for the issuance of a $5,000,000
4% loan of this province at 95.
»
40 yrs.
10 yrs.
20 yrs.
5 yrs.
10 yrs.
10 yrs.
20 yrs.
None
40 yrs.
•
town
AURORA, Ont.—DEBENTURE OFFERING.—Proposals will be re¬
until Oct. 18 by S. H. Lundy, Town
Clerk, for $16,000 electriclighting-system and $5,000 water-works-plant-extension and improvement
ceived
534% debentures.
BATTLEFORD, Sask.—DEBENTURE S PROPOSED.—The Protestant
Public School Board contemplates the issuance of $20,000
school-completion
it is stated.
debentures,
TOISNOT (P. O. Elm City), Wilson
County, No. Caro.—BOND
OFFERING.—Proposals will be received until 12 m. Oct. 18, it is stated,
by Clarence Winsted, Clerk, for $10,000 6% 20-yr. water and sewer bonds.
Cert, check for 2% required.
These bonds were previously offered without
success, as stated in V. 97, p. 315.
N.
J.—BOND OFFERING.—Proposals
City Treas., for
street-impt. bonds.
Denom. $100 or
multiples
will be received until 2 p. m. Oct. 15 by Harry E.
Evans,
Date Nov. 1 1913.
Int. M. & N. at office of
City Treas., or in
Cert, check on a national bank for $1,500,
payable to
N. Y. exchange.
.
O.
5 yrs.
10 yrs.
THERMOPOLIS, Fremont County, Wyo.—BOND SALE.—This
TRENTON, Mercer County,
and
coup,
(P.
10 yrs.
20 yrs.
10 yrs.
yrs.
40 yrs.
20 yrs.
20 yrs.
39
10 yrs.
10 yrs.
20 yrs.
40
NO.
SOLD.—No sale
yrs.
20 yrs.
10 yrs.
has disposed of an issue of $8,000 6% coup, tax-free
judgment bonds.
reg.
DISTRICT
yrs.
10 yrs.
40 yrs.
40
$8,500 5% 9-year (aver.)
(V. 97, p.549).
yrs.
yrs.
The following 5% bonds were registered by the State
Comptroller during
the week ending Oct. 4:
$73,757 4H% 10-year
SCHOOL
County, Neb.—BONDS NOT
$45,000--City of Paris
thereof.
WINSIDE
during
BLIND RIVER, Ont.—LOAN ELECTION PROPOSED.—It is
reported
an election will shortly be held to submit to a vote a
by-law to raise
$10,000 to be granted as a loan to Spears & Landers of Toronto for the estab¬
lishment of a hard-wood industry here.
that
BRANDON, Man .—DEBENTURE SALE.—An issue of $324,000 5%
municipal improvement debentures has been awarded to the Harris Trust
& Savings Bank of Chicago.
Due serially from 1922 to 1943.
BRANTFORD, Ont .—DEBENTURE ELECTION.—Local newspaper
reports state that an election will be held Jan. 1 1914 to vote on the propo¬
sition to issue $45,000 or $60,000 school-building debentures.
Assessed
CALGARY, Alta.—DEBENTURES VOTED.—Reports state that a
was cast at the election held
Sept. 27 on the questions of
issuing $350,000 stock yards. $250,000 infant industry building construc¬
tion and $30,000 hospital debentures (V. 97, p. 834).
BID REJECTED.—Brent, Noxon & Co.
of Toronto offered 85 for an
issue of $100,000 4j^% 20-year debentures, but this
offer, it is stated,
was rejected.
The official notice of this bond offering will be
found among the advertise¬
ments elsewhere in this Department.
DOMINION
OF
CANADA.—NEW
LOAN.—-Subscription lists for
£3.000,000 4% coupon stock issued at 99 by the Bank of Montreal in Lon¬
don, closed Sept. 29.
Applications were received for only 43 % of the loan,
City Treas., required.
The legality of this issue will be passed
upon by
Y.City, whose opinion will accom¬
pany the bonds on delivery.
Official circular states that the city has never
Hawkins, Delafield & Longfellow of N.
defaulted
in
(including
the
payment
this issue),
of principal
$7,533,658.
valuation 1913, $76,244,779.
or
interest.
issues
of 5%
indebtedness
Tax rate (per $1,000), $21 80.
TULSA, Tulsa County, Okla.—BONDS
the. five
Total
Sinking fund $1,963,537.
A WARDED IN PART.—Of
tax-free bonds, aggregating $182,000,
offered
on
favorable vote
which is to provide for the redemption of £1,700,000 4
% bonds due Oct'. 1
1913 and for other purposes.
Interest payable April and Oct. 1 at Bank of
Montreal.
Redeemable at par in London Oct. 1 1960, with
option to the
OOT. 11
LAKE,
favorable vote
was
scribed for,
notice.
giving three months'
DUCK
Sask.—DEBENTURES VOTED.—It is stated that
cast at the election
held Sept. 12
on
are
we
at par as to £11,000 in 1933 and £85,900 in 1962.
The debentures maturing
in 1962 are direct obligations of the municipality, issued to provide funds
a
the proposition to
sidewalks, parks, water works and school sites.
The debentures
in 1933 are local improvement debentures, secured primarily
special rates levied on the properties, benefited by the improvements,
and guaranteed by the municipality.
Principal and interest payable at
the holder's option in sterling in London, or in Canada at the District Hall,
North Vancouver, or at the Bank of Hamilton, Toronto, at the current rate
of exchange.
Interest will be paid half-yearly by coupon on Feb. 1 and
Aug. 1, commencing with a coupon for a full six-months interest due
for streets,
issue the $11,000 town-hall-construction debentures (V. 97, p. 683).
maturing
ESTEVAN, Sask.—DEBENTURES VOTED.—According to reports,
this place recently voted in favor of the questions of issuing light, sewer
and power-ext. debentures, aggregating $45,200.
upon
EXETER, Ont.—DEBENTURE ELECTION.—A by-law providing for
Manfg. Co., Ltd., will be submitted to a
loan of $10,000 to the Exeter
on Oct. 17, it is stated.
a
of £96,900 5% debentures at 95.
The issue was sub¬
advised, about one-half.
Debentures are re-payable
Securities Corp., Ltd.,
Government to redeem in whole or in part at par on or after Oct. 1 1940,
on
1065
CHRONICLE
THE
1913.]
vote
1914.
1
Feb.
HIGH RIVER, Alta.—DEBENTURE ELECTION.—On Oct. 24 the
question of issuing $100,000 refunding debentures will be submitted to the
Burgesses, it is reported.
OPS TOWNSHIP, Ont .—DEBENTURES PROPOSED.—Reports
debentures.
KNOX SCHOOL DISTRICT NO. 826, Sask.—DEBENTURE SALE.—
Ont.—DEBENTURE
PEMBROKE,
fund debentures was awarded to the Sas¬
on Sept. 1 at par.
Date Sept. 1 1913.
Due in 10 annual installments.
An issue of $500 8% building
katchewan Life Insurance Co.
received until Oct.
Int. annually on Feb. 2.>
debentures:
5,000 00 bonus to
STAMFORD TOWNSHIP,
newspaper
a
■ *
■■
vote
Ont —DEBENTURE ELECTION.—Local
reports state that an election will be held Oct. 29 to snbmit to
of issuing $3,500 water-works-system bonds.
the question
STEELTON, Ont .—DEBENTURE SALE.—Reports state that an issue
purchased by the Dominion Securi¬
nuisance-ground-purchase 7% debentures, for which proposals
time (V. 97, p. 472).
Tenders for these debentures will
R. Taylor, Secretary-Treasurer.
of $40,000 5% 10-year debentures was
ties Corporation of Toronto recently.
ELECTION
Ont.—DEBEN TURE
STRATFORD,
MOUNTAIN TOWNSHIP, Ont.—DEBENTURES AUTHORIZED.—
Reports state that the Council has passed a by-law providing for the issu¬
PROPOSED.—Ac¬
cording to newspaper reports, an election will be held in the near future to
vote on the proposition to issue $20,000 fire-equipment debentures.
of $11,000 school-budding debentures.
were
1923.
SMITH'S
FALLS, Ont .—DEBENTURES A UTHORIZED.—Reports
that the Town Council recently authorized the issuance of $50,000
trunk-sewer-construction bonds.
asked at any
Sask.—NEW LOAN.—We
1913.
state
be received by J.
BATTLEFORD,
of
Ont.—DEBENTURE ELECTION.—Reports state that an
submit to a vote the proposition tn issue
$16,000 water-works and sewernsystem-construction debentures.
are advised that no
sale has been made of the $3,000 sidewalk, $3,000 water and $1,000 ceme¬
NORTH
Bank
at
Due in 2t annual
SARNIA.
MORSE, Sask.—DEBENTURES NOT SOLD.—We
ance
Int. annual
election will be held Oct. 24 to
LONDON, Ont.—DEBENTURE SALE.—Reports state that the re¬
maining $564,500 of an issue of $764,500 debentures offered on June 2
(V. 97, p. 135) has been disposed of to Wood, Gundy & Co. of Toronto,
who took altogether $338,500 on Oct. 3.
and
be
1932.
4,455 98 local-improvement debentures.
Int. annual.
Due July
Debentures to be delivered at Bank of Ottawa, Pembroke.
!
LONDON, Ont.—DEBENTURE ELECTION.—An election will be held
Oct. 22 (date changed from Oct. 16), reports state, to submit to a vote the
question of issuing the following debentures (V. 97, p. 972):
$400,000
trunk sewers, $50,000 sanitary sewer extension, $25,000 permanent break¬
water and $700,000 for the electrification of the London & Port Stanley Ry.
were
debentures.
Due Sept. 6
will
following 4M%
.
manufacturing industry debentures.
installments from Feb.
$400,000 debentures.
tery
,
Ottawa.
•
OFFERING.—Proposlas
15 by W. H. Bromley, Esq., for the
$8,500 00 water-works-system-ext.
LETHBRIDGE, Alta.—DEBENTURE SALE.—Reports state that the
Securities Corp., Ltd., of Toronto have purchased $150,000
The purchasers have been
granted a 60-day option jon
Dominion
debentures.
.
state
contemplating the issuance of $5,000 drainage-system
that this township is
;
Ont.—DEBENTURE SALE.—An issue of $13.5*0 5%
Dominion Se¬
of Toronto, it is reported.
1
WINGHAM,
advised
under date of Sept. 27 by the
25 and 30-year installment debentures has been sold to the
they
curities Corporation
Scottish National Securities Corp., Ltd., that
about to ask subscriptions for £100,000 5H % coup, debentures
issued to provide funds for streets, sidewalks, sewers, water-works, electriclight and power and other public purposes.
The issue price is 95.
Denom.
£100.
Int. J, & J.
Repayable at par by series between 1938 and 1953.
were
Man.—RESULT OF DEBENTURE ELECTION.—It is
WINNIPEG,
reported that the question of issuing the $13,500,000 Shool Laka System
water-works debentures carried at the election held Oct. 1 (V. 97, p. 760),
proposition to issue the $275,000 hospital-extension debentures
while the
NORTH VANCOUVER, B. C.—LOAN.—We have just been informed
the result of the offering in London in July by the Scottish National
was
as to
defeated.
'
,
NEW
HEW LOANS.
THE BOROUGH OF HAWTHORNE, N. J.,
ROAD IMPROVEMENT
Sealed
$75,000
$125,000
$30,000
COUNTY, N. J., CITY
UNION
proposals will be received at the office of
the County Collector of Union County, Elizabeth,
N. J
until OCTOBER 22, 1913, at 11 o'clock
A.M., for the purchase of $125,000 Thirty-Year
County Hospital Bonds of Union County, N.J.
Said bonds will be coupon bonds of the denom¬
ination of $1,000 each, with the privilege of regis¬
tration as to principal only, or of conversion into
registered bonds, payable, both principal and
interest, to the registered holder.
The bonds will
be dated October 1, 1913, will be payable October
1, 1943, and will bear interest at the rate of 4H %
per annum, payable semi-annually on the first
days of April and October in each year.
Both
principal and interest will be payable in lawful
money of the United States at the National State
Bank of Elizabeth, at Elizabeth, N. J.
All bids must provide for the payment of ac¬
Sealed
proposals will be received by the Board of
Commissioners of the Borough of Hawthorne, on
FRIDAY,
THE
SEVENTEENTH
DAY
OF
OCTOBER, 1913, at eight o'clock, in the evening,
at the Board Rooms, in the School House, on
Lafayette Ave., in said Borough, and will then
and there be opened for the purchase of the follow¬
ing bonds, to wit: Road Improvement Bonds in
the amount of Thirty Thousand Dollars, in the
denomination of One Thousand Dollars, to bear
interest at five per cent per annum, payable semi¬
annually, dated September 1, 1913, two bonds
due September 1, 1916, and two bonds due each
Jrear thereafter at The Hamilton Trust Company,
nterest payable until all are paid: principal and
Paterson, N.J.
These
bonds
will
be
bonds, with
ccupOn
privilege of registration, and
are
the
to be issued under
and by virtue of an Act of the Legislature, of the
State of New Jersey, entitled "A General Act
relating to Boroughs (Revision 1897)," approved
April 24th, 1897.
Said bonds
are
to be taken and
ing accrued interest,
on
or
paid for, includ¬
before November
1,
1913.
Each proposal must be accompanied by a check,
duly certified by a National Bank or Trust Com¬
pany, made payable to William G. Van Stone,
Collector, as a guaranty that the bonds will be
taken if bid is accepted.
Bids should be addressed "John A. Shea, Boro.
Clerk, Road Improvement Bonds." ;
The right is reserved to reject any or all bids.
The Bore ugh has no bonded indebtedness; the
assessed valuation of taxable property for the year
1913 is $2,279,189.
In case information is desired, address the Clerk
either at "North Paterson, N. J.," or at "136
Market St., Paterson, N. J."
Dated October 1, 1913.
JOHN A. SHEA,
Borough Clerk.
.
,
crued interest from the date of said bonds to the
date of delivery, and must be accompanied by a
certified check upon
an
incorporated bank or
"the Board of
County" for 2%
Proposals should
be addressed to Nathan R. Leavitt, County Col¬
lector, Elizabeth, N. J., and should be marked
upon the outside thereof "Proposals for County
Hospital Bonds."
'
The validity of the bonds Mill be approved by
Messrs. Hawkins, Delafield & Longfellow, attor¬
neys, of New York City, whose opinion will be
furnished to the successful bidder, and the bonds
will be prepared and certified as to genuineness
by the Columbia-Knickerbocker Trust Company
of New York City.
The right is reserved to reject any or all bids
and no bid for less than par and accrued interest
will be accepted.
JOHN N. CADY,
trust company to the
Chosen Freeholders of
order
Director
of
the
Board
of
NATHAN
R.
'
•
*
LEAVITT,
County Clerk.
&
CO.
BONDS
CITY OF TRENTON,
N. J.,
60
N
Y.,
P.
M.,
FRIDAY
OCTOBER
17TH,
1913.
bonds at the
option of the purchaser, and will date from Octo¬
ber 24th, 1913, and be issued in denominations
of $1,000 each, and bear interest at the rate of
4K per cent per annum, payable semi-annually on
April 24th and October 24tn each year thereafter,
and will mature as follows: $5,000 in 1925 and
$10,000 in each year 1926-1932, inclusive, when
the last bond will be paid.
Bids will be received
for all or any part of said issue.
Bids for less than
the entire issue must specify the maturities bid for.
Proposals must be accompanied by certified
check, payable to the order of the City Treasurer
for two per centum of the amount of bonds bid
for, and also by a statement in which the bidder
These will be registered or coupon
shall elect whether the bonds "so bid for shall be
bonds.
The right is re¬
and all bids.
Address all
plain sealed envelope bearing the fol¬
lowing marking, and no other: "To the Finance
Committee of the Common Council of the City
of Hudson, N. Y.
High School Bonds."
Bids
may be sent care of HENRY M. JAMES, City
Clerk, Hudson, N. Y.
coupon
served
bids
in
or
registered
to reject any
a
[Sl^OO^OO.OO
MUNICIPAL
BUILDING
OF
STATE STREET. BOSTON
BONDS
THE
CITY BF HARTFORD/CONNECTICUT^
20-YEAR
Sealed
GOLD
*lA%
Chosen
.
BLODGET
HUDSON,
Sealed Bids will be received for $75,000 High
School Bonds of Hudson, N. Y., until 2 O'CLOCK
.
Freeholders.
-
'
$73,757
of
Union
of the amount of bonds bid for.
,
OF
HIGH SCHOOL BONDS.
COUNTY HOSPITAL BONDS
BONDS
LQ AJ*.
proposals will be received by the City
at his office in the City of Hartford,
THURSDAY,
THE
16TD
DAY
OF
OCTOBER, 1913. at two o'clock p. m., for the
purchase of the whole or any part of the abovenamed bonds, amounting to one million dollars
($1,000,000), to be issued November 1, 1913,
and maturing November I, 1933, with interest
at four and one-half per cent (4H %) per annum,
payable semi-annually.
Principal and Interest
payable in gold coin of the United States of
Treasurer
until
America.
30 PINE STB
'ET. NEW YORK
STREET IMPROVEMENT BONDS
STATS, CITY A
RAILROAD TOND8
For further information and conditions govern¬
ing proposals and sale, address
CHAS. H. SLOCUM,
City Treasurer.
Office of the City Treasurer,
Trenton, N.
J., October 2,
1913.
Sealed proposals will be received at this office
until 2 o'clock P.
M., WEDNESDAY, OCTOBER
15, 1913, for the purchase of the whole of $73,757
of City of Trenton, N. J., ten-year, four and onehalf
per
cent
semi-annual
registered
StreetImprovement Bonds.
Bonds will be dated November 1, 1913, due
November 1, 1923, issued in denominations of
$100 or multiples thereof, and will not be sold for
less than par and accrued interest.
Each bidder will be required to enclose, as evi¬
dence of good faith, a certified check on a national
bank, for $1,500, payable to the order of Harry E.
Evans, City Treasurer.
Checks will be immediately returned to un¬
successful
bidders.
The bonds will be awarded to the bidder whose
proposal will be most favorable to the city, but
the right is reserved to reject apy or all bids not
deemed for the interest of the city.
Proposals to be sealed and addressed to
H.E.EVANS,
City Treasurer
•
Bolger,
& Witlaman
Moss*r
MUNICIPAL
LIST
Legal for Savings Kanks.
Postal Savin :s and Trust Funds.
SEND
FOR LIST.
AND
ON
F.
Sal
WM.
CH CAGO
9
KRAFT
APPLICATION
SEAS0NG00D & MAYER
Ingalls
29 South La
RAILROAD
BONDS
MUNICIPAL BONDS
Building
CINCINNATI
H0DENPYL, HARDY & CO.
LAWYER.
Specializing in Examination of
Municipal and Corporation
Bonds
14
Wall
St.,
New York
Railway, Street Ry.,Gas & Elec. Light
1037-9 FIRST NATIONAL BANK BLDG-
CHICAGO, ILL.
SECURITIES
1066
THE
CHRONICLE
[Vol.
Hugh;
jgmst ©trmirattie*.
CHARTERED
xcvii.
1853.
United States Trnst Company of New York
THE J. G. WHITE COMPANIES
'
WALL STREET
45-47
Capital,
-
-
ENGINEERS
-
Surplus and Undivided Profits
%2,000,000 00
-
-
-
-
"
•
MANAGERS
-
$14,025,643 12
FINANCIERS
This Company acts as Executor, Administrator, Guardian,
Trustee, Court
Depositary and in 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.
43
Exchange Place,
NEW YORK
-
#
EDWARD W.
WILLIAM M. KINGSLEY, Vice-President
WILLIAMSON PELL, Asst. Secretary
.
\
•
;.
.'.'.X-
TRUSTEES
Alfred E. Forstall
FORSTALL
WILLIAM M. KINGSLEY
WILLIAM
PAYNE WHITNEY
STEWART
OGDEN MILLS
EDWARD W. SHELDON
EDGERTON L. WINTHROP
CORNELIUS N. BLISS JR.
HENRY W. de FOREST
ROBERT I. GAMMELL
RIVES
ARTHUR CURTISS JAMES
AND
ROBISON
TOD
ENGINEERS
•-.i
'
*
■
'
.
Investigations
Electric
.
and
.
'
A
.
Appraisals
of
Gas
or
Properties for Owners
■
Financial
and
Institutions.
,
84 William
St.,
CITY.
YORK
NEW
C. G. YOUNG
The
Passage of the Income Tax will create complications for
every Estate and every individual with an income of more than
$3,000 a year.
\•'x;.
Engineering and Construction
Plans, Methods, Examinations
.
.
Charles D. Roblsos
of the Board
LEWIS CASS LEDYARD
LYMAN J. GAGE
GEORGE L
JOHN CLAFLIN
JOHN J. PHELPS
London.
WILFRED J. WORCESTER, Secretary
CHARLES A. EDWARDS, 2d Asst. Secy.
CHAUNCEY KEEP
FRANK LYMAN
JAMES STILLMAN
San Francisco.
President.
SHELDON,
JOHN A. STEWART, Chairman
WILLIAM ROCKEFELLER
ALEXANDER E. ORR
WILLIAM H. MACY JR.
WILLIAM D. SLOANE
Chicago-
Manila, Para, Buenos Aires, Santiago, Chili.
Public Utilities and Industrials
The Union Trust
Company of New York intends to do every¬
thing in its power to make compliance with the law as simple as possi¬
ble for its friends and customers, and will give most careful considera¬
tion to this important matter as soon as the bill is
printed in final
form and the Treasury regulations issued. *
REPORTS FOR
Bankers Trust
FINANCING
York
Bldg., New
Alex. O. Humphreys
Alien S. Mills?
:
HUMPHREYS &
Correspondence or interviews in regard to the Income Tax or
other problems relating to the care of property will be welcomed.
UNION
TRUST
CAPITAL
COMPANY, 80
Power—Light—Gas
Broadway
ICS BROADWAY
AND SURPLUS
-
MILLER,Inc
ENGINEERS
-
NEW
-
-
YORK
$8,300,000
-
ffttntng Uttgtneere
H
CHANCE
M.
Engineers
Mining
CHICAGO
Pays Interest
on
$15,000,000
Examined,
a
General
Trust
Business.
Managed,
Drexel Bldg.
CO.
Appraised
PHILADELPHIA, PA.
<
JuQCOtttttsmta
Time Deposits, Current and Reserve Accounts*
Deals in Investment Securities and Foreign Exchange.
Transacts
4
Geologists
COAL AND MINERAL PROPERTIES
Capital and Surplus,
(
and
PARK, POTTER & CO.
"
CERTIFIED PUBLIC ACCOUNTANTS.
correspondence
New York,
Chicago, Cincinnati and
London, England
invited
Watertown, N. Y„ C. E. Scoville.
AUDITORS FOR FINANCIAL, INDUSTRIAL
AND MINING CORPORATIONS.
Mellon National Bank
Investigations, Financial Statements,
Periodical Audits and Accounting.
PITTSBURGH, PA.
'
:
1
8-26
•
■
3%
•
RESERVE ACCOUNTS
on
is
Adrian H. Muller & Son
AUCTIONEERS
paid by this bank
Correspondence is invited
Regular Weekly Sales
'
CAPITAL,
-
$6,000,000
•
OF
■
■
'
...
STOCKS and BONDS
EVERY WEDNESDAY
Acta
Office, No. 58 WILL LAM STREET
as
Executor,
Trustee,
Administrator,
Guardian,
Receiver,
Regiatrar and
Transfer Agent.
Girard
Trust
Company
Corner Pine Street
PHILADELPHIA
Chartered 1836
GEO.
CAPITAL and
B.
SURPLUS, $10,000,000
EDWARDS
BROKER
Tribune
Interest
on
allowed
deposits.
'■
'
•.
0
'
•
E. B. Morris, President.
'
•
Building. NEW YORK, N. Y.
FOR SALE.—Timber, Coal, Iron, Ranch and
..
Confidential
»
other properties.
Negotiations,
Settlements
Unite
States
Investigations,
Purchases of
West In",
s,
Property
Canada, Mexico.
@FedFRASER