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financial
The
rontrie
INCLUDING
Bank & Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers' Convention Section
VOL. 89.
SATURDAY, OCTOBER 16 1909.
The Tlxvionicle.
PUBLISHED WEEKLY.
For One Year
$10 00
For Six Months
6 00
European Subscription (including postage)
13 00
European Subscription six months (including postage)
7 50
Annual Subscription in London (including pcstage)
.E2 148.
Six Months Subscription in London (including postage)
,e1 118.
Canadian Subscription (including postage)
$11 50
Subscription includes following Supplementsit INK AND QUOTATION (monthly)
S CATE AND CITY (semi•annually)
RAILWAY AND INDUSTRIAL (quarterly) ELECTRIC RAILWAY(3 tunics yearly)
RAILWAY EARNINGS(monthly)
BANKELS' CONVENTION (Yea:1Y)
Terms of Advertising-Per Inch Space
Transient matter per inch space (14 agate linos)
$4 20
Two Mouths
(') times)
22 00
mes
Standing Business Cards Three Months (13 ti)
29 00
Six Months
(26 times)
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•t.
Twelve Months(52 times)
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CHICAGO OFFICE-P. Bartlett,513 Monadnock Block; Tel. Harrison 4012.
LONDON OFFICE-Edwards Ail Smith,1 Drapers' Gardens, E. C.
WILLIAM B. DANA COMPANY, Plib1181ters,
P.0. Box 958. Front, Pine and Depeyster Fits.,
New York.
-
Published every Saturday mornin -r by WILLIAM R. DANA COMPA
NY
William D. Dana,President.; Jacob Seibert Jr., Vice-Pres
G. Dana,Treas. Addresses of all,Oftice of the Company. . and Sec.; Arnold.
.111"
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all clearing houses of the U.
S.
for week end. Oct. 16 have been $3,360,491,512, against
$3,767,918,975 last week and $2,776,022,686 the corresponding
week last year.
Clearings-Returns by Telegraph Oct. 16.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
1909.
1908.
$1,693,820,691
142,383,043
86,648,549
24,992,159
227,809,152
64,652,603
17,299,414
$1,319,422,560
124,462,129
95,565,134
19,255,825
208,573,887
59,209,442
13,071,790
+28.4
+14.4
-9.3
+29.8
+9.0
+9.2
+32.3
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis _ _ _
Columbus
Toledo
Peoria
Grand Rapids.-Dayten
Evansville
Kalamazoo
Springfield, Ill _ _
Fort Wayne ___ _
Youngstown _ _ _ _
Lexington
Rockford
Akron
South Bend
Canton
Quincy
Bloomington_ _ _ _
Mansfield
Springfield, Ohio
Decatur
Jackson
Jacksonville, Ill_
Ann Arbor
Danville
Adrian
Tot. Mtd.West.
San Francisco__
Los Angeles
Seattle
Portland
Spokane
Tacoma
Salt Lake City_ _
Oakland
Helena
Sioux Falls
Sacramento
San Diego
Fargo
Fresno
Stockton
San Jose
North Yakima _ _
Billings
Total Pacific.._
Week ending October 9.
Clearings at
1909.
1908.
Inc. or
Dec.
1907.
1906.
$
$
$
$
New York
2,425,007,506 1,603,285,128 +11.2 1,611,351,889 2,101,120
,141
Philadelphia -_ _ 154,064,612 102,614,177 +50.1 135,444,309 139,939,3
57
Pittsburgh
51,147,452
39,484,096 +29.6
50,761,704
46,550,96
2
Baltimore
29,922,465
24,432,54
+22.5
31,768,13
3
1
28,645.14
0
Buffalo
10,552,925
9,283,400
+13.7
8,472,386
7,919,267
Albany
6,918,526
5,975,378
+15.8
6,100,138
8,210,738
Washington _ _
7,777,755
5,701,019 +36.4
6,130,458
5,584,483
Rochester
4.018,234
3,374,681 +19.1
3,605,738
4,085,985
Scranton
2,908,514
2,295,842
+26.7
2,795,791
2,171,342
Syracuse
2,257,239
1,888,645
+19.5
2,583,921
1,620,189
Reading
1,613,477
1,262.132 +27.8
1 450 452
1 403 911
Wilmington
1 575 654
1 210 179 +30.2
1 272 600
1 437 492
Wilkes-Barre _ _
1 617 846
1
382,604
+17.0
1,274,656
1,122,614
Wheeling
1,776,685
1,497,092 +18.6
1,243,021
1,159,581
Harrisburg
1,499,433
1,104.022 +35.7
925,205
1,000,000
York
937,684
782,121 +19.8
839,298
Trenton
1,601,634
1,165,956 +37.4
Altoona
415,275
324,537 +28.0
Erie
813,915
612,722 +32.8
642,301
607,067
Greensburg
462,618
505,871 -8.5
574.583
529,035
Binghamton _ _
487.200
486,400 +0.2
552,900
533,200
Chester
468,538
385,558 +21.5
453,355
602,754
Frankin
300,000
312,799 -4.1
366,038
366,038
Total Middle 2,708,145,217 1,809,367,802 +49.7 1,868,531
,381 2,354,609,296
177,033,149 139,937,830 +25.1
Boston
149,236,317 180,566,516
7,918,500
Providence .....
6,283,400 +26.0
7,422,300
7,900,200
3,898,327
Hartford
2,684,313 +45.2
3,464,813
3,484,055
New Haven _ _ _
3,054,722
2,622,632 +16.5
2,531,432
2,602,729
Springfield
2,000,000
1,971,048 +1.5
1,942,144
2,053,491
Portland
1,993,285
2,172,193 -8.2
2,264,860
1,985,276
Worcester •
820,151
1,451,345 +25.4
1,878,827
1,778,084
Fall River
1,288,088
1,
1,125,629 +14.5
1,019,980
1,120,228
New Bedford _
995,757
880,942 +13.1
887,701
655,968
Lowell
550,503
478,061 +15.1
539,691
579,621
Holyoke
542,925
497,610 +9.1 '
529,463
490,147
Total New Eng. 201,095,407 160,105,003 +25.6 171,717,5
28 203,216,315
1909.
1908.
Inc. or
Dec.
283,960,031
24,715,100
19,668,662
15,348,157
12,362,622
9,827,148
6,211,600
3,987,298
3,200,000
2,572,779
2,391,960
2,255,434
1,614,572
939,240
979,742
1,127,308
725,187
646,930
820,000
527,489
800,000
723,865
561,713
413,949
465,206
972,054
370,000
276,586
315,425
426,512
32,105
234,465,778
22,997,550
14,644,617
12.545,124
12,352,362
8,311.410
5,118,300
3,665,298
2,918,647
2,094,820
1,928,269
1,919,836
1,161,676
837,173
767,421
876,514
572,699
594,119
600,000
474,781
649,392
536,685
402,073
364,882
427,973
374,968
350,835
263,678
172,080
321,049
23,312
+/IA
+7.5
+34.3
+22.3
+0.1
+18.2
+21.4
+8.8
+9.7
+22.8
+24.0
+17.5
+39.0
+12.2
+27.6
+28.7
+26.7
+8.9
+36.7
+11.1
+23.2
+34.8
+39.7
+13.4
+8.7
+25.9
+5.5
+4.9
+83.3
+32.8
+37.7
1907.
1906.
254,185,862
26,217,750
17,513,935
13,575,928
12,345,507
8.903,012
5,949,100
4,348,950
3,297,282
2.492,594
2,056,206
2,213,591
1,036,098
1,023,084
902,484
847,543
673,397
728,296
650,000
532,046
531,061
511,196
513,912
404,992
485,425
463,034
217,800
269,060
177,039
219,028,037
24,311,750
17,501,709
12,233,170
11,045,447
7,565,282
5,307,900
4,379,055
3,076,518
2,398,224
2,257,551
1,610,905
986,284
914,813
854,798
619,284
636,942
672,669
563,693
461,913
454,120
426,268
437,718
416,072
402,920
374,266
198,000
219,765
183,058
26,603
398,738,674
332,733,321 +19.8
362,592,737
319,538,238
40,258,263
12,601,212
12,067,874
11,100,833
5,065,695
6,155,910
6,452,096
1,858,408
930,326
1,010,000
1,213,254
979,000
1,225,539
757,755
664,305
658,083
500,947
389,701
36,744,357 +9.6
9,823,534 +28.3
9,796,762 +23.2
7,493,181 +48.1
4,055,260 +24.9
4,931,619 +24.8
4,784,697 +34.9
1,679.679 +10.5
1,051,696 -11.5
1,000,000 +1.0
991,577 • +22.9
999,600 -2.1
951,530 +28.9
652,100 +16.2
495,040 +34.6
547,048 +20.3
347,915 +44.0
215,306 +80.9
43,306,041
11,761,455
10,636,303
8,920,793
3,841,128
5,038,747
6,997,323
2,592,862
1,214,460
800,000
43,725,151
12,124,280
12,533,980
7,524,329
3,048.407
4,640,843
5,825,326
3,595,763
1,148,832
522,369
765,924
610,295-
700,000
706,157
288,526
86,560,301 +20.0
57,298,750
43,230,245 +32.5
33,265,252
31,391,915 +6.0
16,940,517
13,359,605 +26.8
11,481,716
11,063,711 +3.8
10,500,000
8,346,383 +25.8
7,202,278
5,651,580 +27.4
4,079,989
3,015,028 +35.3
3,362,910
2,645,201 +27.1
3,347,795
1,523,530 +119.7
1,617,058
1,506,494 +7.3
1,607,561
1,383,764 . +16.2
1,319,211
1,035,862 +27.4
609,207
986,194 -38.4
1,200,000
876,838 +36.9
611,992
489,710 +25.0
520,559
471,661 +10.4
7,912,441 Not included In total
97,281,193
95,589,101
39,328,963
32,789,153
12,864.351
11,059,532
8,470,414
5;746 552
3,349,272
2,445,902
1,503,307
1,341,375
1,462,944
1,038,996
741,663
781,285
605,527
399,855
30,039,324
28,066,693
11,374,622
8,959,584
7,394,356
4 793.675
2,922,254
2,092,346
1,186,948
1,232,282
1,276,597
955,146
610,327
646,243
572,291
422,930,
103,888,021
Kansas City
Minneapolis
Seven cities, 5 days
$2,257,305,611 21,839,560,767 +22.7 Omaha
Other cities, 5 days
987,968,493
427,149,868 +14.3 St. Paul
Denver
Total all cities, 5 days
$2,745,274,104 $2,266,710,635 +21.1 St. Joseph
All cities, 1 day
Des Moines •
615,217,408
509,312,051 +20.8 Sioux
City
Wichita
Total all cities for week
$3,360,491,512 $2,776,022,683 +21.1 Davenpor
t
Lincoln
Topeka
The full details for the week covered by the above will
Colorado Springs
be Cedar
given next Saturday. We cannot furnish them
Rapids__ _
to-day Pueblo
clearings being made up by the clearing houses
Fremont
at noon on Duluth
Saturday, and hence in the above
the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with
Saturday noon, Oct. 9, for four years.
NO. 2312.
Week ending October 9.
Clearings at-
Terms of Subscription-Payable in Advance
•
Electric Railway Section
State and City Section
Tot. oth.West_
154,964,780
126,977,721 +22.0
123,729,091
102,545,618.
St. Louis
New Orleans..
Louisville
Houston
Galveston
Savannah
Richmond
Memphis
Fort Worth
Atlanta
Nashville
Augusta
Norfolk
Birmingham --- Little Rock
Chattanooga -Charleston
Knoxville
Jacksonville _ _ Mobile
Oklahoma
Macon
Beaumont
Austin
Vicksburg
72,873,428
18,675,748
13,270,064
13,122.390
7,027,500
8,574,417
7,643,009
7,847,093
7,962,014
.13,238,675
3,820,762
3,736,759
3,510.282
2,200,989
2,108,858
1,700,013
2,458,995
1,708,780
2,088,078
1,603,703
2,400,000
1,722,638
659,242
755r235
348,204
59,664,052 +22.1
14,656,682 +27.4
11,161,835 +18.9
13,439,150 -2.4
8,275,000 -15.1
7,164,707 +19.7
5,740,927 +33.2
5,475,804 +43.3
5,418,039 +46.9
5,267,009 +151.3
3,144,020 +21.5
2,785,160 • +34.2
2,456,436 +42.9
1,856,610 +18.5
1,693,751 +24.5
1,550,073 +9.7
1,532,144 +60.5
1,520,089 +12.4
1,505,953 +38.7
1,290,272 +24.3
1,121,028 +114.1
1,036.889 +66.2
554,268 +24.4
600.000 +25.9
365,675 -4.8
70,470,945
17,691,531
12,868,507
15,314,296
7,049,500
6,399,871
6,638,662
6,153,041
3,649,142
6,271,951
5,101,530
3,380,733
2,893.286
2,239,065
1,768.356
1,627,311
1,850.000
1,584,542
1,585,707
1,453,142
1,124,354
1,027,016
473,562
61,798,113
22,017,830
11,964,529
17,368,186.
9,649,500
6,856,941
5,697,118.
4,718,302
4,081,014
5,996,225
3,559,223
2,563,776
2,605,379
2,157.187
1,548,737
1,487,083
1,775,508
1.379,742
1,229,059
1,678,878'
972,973
990,785
395,000
Total Southern
Total all
-Outside N.Y
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
VPICCZ
London
Edmonton
Regina
Total Canada_
201,086,876 159,275,573 +26.3 178,616,050 172,485,088
3,767,918,975 2,675,029,721 -140.9 .802,667,980 3,247,983,691
1,342,911,469 1,071,734,593 +25.3 ,191,316,091 1,146,863,515
47.721,890
33,780,594 +41.3
25.715,433 +16.7
29,999,336
22,090,190
15,290,819 +44.5
4,209,029 +84.0
7,746.986
3,827.930
3.567,997 +7.3
2,910,364
2,477,507 +17.5
1,999,469
1,691.308 +18.2
1,985,259
1,551,392 +28.0
1,673,120
1,622,928 +3.1
2,098,492
1,395,150 +50.4
1,573,558
936,481 +87.2
1,302,700
1,122,185 +16.1
917.045
660,412 +38.9
798,440 Not included in total
126,824,779
94,021,231 +34.9
31,149,724
24,987,357
11,043,542
4,172,552
3,045,875
2,373,052
1,743,15.3
1,741,598
1,162,646
1,385,298
1,144,007
1.194,47g
889,573
86,032,849
31,150,762
24,788,311
12,612,300
3,097,136.
2,916,562
1,943,871
2,067,695
1,500,910
1,251,419'
1,184,0822,129,689
1,170.989.
815,864
86,629,593*
*This year's clearings constderab y Increased by out-of-town~nodepartme
nt.
956
THE CHRONICLE
[VOL. xxxxxx
to pay for every holiday it gets. In the case of private
concerns and in small establishments, where only a
limited number of men is employed at weekly wages,
the loss of a day's work does not necessarily mean the
loss of a day's pay. In such cases the employer bears
the burden, and if this rule generally prevailed it
could of course be claimed that to decree additional
holidays is to provide abstention from work for the
employee without any cost to him. As it happens,
TION.
THE FINANCIAL SITUA
though, only a small part of the population is emwork in the larger
The people of this State have this week had their ployed in this way. The bulk is at
, each enshments
establi
first experience with a new holiday—Columbus Day— manufacturing and other
of hands.
ds,
thousan
and- they are not at all pleased with it. In the mercan- gaging many hundreds,and some
the emfor
n
questio
the
of
tile community there is a consensus of opinion that the In such instances it is out
aggreThe
work.
at
not
when
holiday is a needless one, without excuse or justi- ployer to pay his hands
that
It
follows
large.
too
is
d
fication. , ft comes at a busy season, with the Labor gate amount involve
it
does
he
holiday
a
gets
or
takes
Day Holiday just behind us and the Election Day,and when the employee
the
where
even
true
is
This
.
at his own expense
the Thanksgiving Day holidays right in front of
If he is away any porA little further beyond Christmas Day, New Year's operative is paid by the week.
for the loss of time.
d"
"docke
is
he
Day, Lincoln's Birthday and Washington's Birthday tion of the week
is to deprive the
holiday
extra
every
of
loom up. These, it is felt, provide interruptions Thus the pffect
of his weekly
portion
a
of
man
g
laborin
enough to the ordinary routine, and hence there is no wage-earner and
with the
year,
the
of
season
this
at
occasion for sandwiching in another dies non: This stipend. And
a family
of
head
every
for
which
on,
being .the common opinion, business on the dity winter coming
income
the
of
down
cutting
the
n,
named went on about as usual. The truth is, hardly one must make provisio
p.
hardshi
positive
a
is
way
that
in
man in a thousand knew that .our wise men at Albany of the wage-earner
legisthe
that
way,
any
us,
numero
so
Holidays are
had inflicted a new holiday upon the population, and
to the number.
among the rank and file of the rpeople the feeling on lator should be careful about adding
, is a halfthrough
year
the
all
y,
Saturda
learning .of the fact was one of indignation that such Every
six days in
twentyof
ent
equival
is
the
This
.
holiday
the
summer
a thing should have . occurred. During
this the
to
add
we
If
weeks.
o
fifty-tw
of
period
some
a
ily
impose
season, weather conditions necessar
s
holiday
two
the
s,
holiday
Year's
New
and
as
the
.but
Christm
kind,
check upon human activities of every
Labor
July,
of
Fourth
Day,
ion
Decorat
y,
Februar
in
end
an
to
period of semi-idleness is presumed. to come
iving, the number is
on Labor Day. After that the business man and the Day, Election Day and Thanksg
us Day, makes it
and
Columb
ive
thirty-f
to
ed
increas
laboring man alike desire nothing so much as to be
o
Sundays and we
fifty-tw
the
now
Count
ix.
thirty-s
interallowed to pursue their daily affairs free from
one-quarter
nearly
or
days,
ight
of
eighty-e
total
a
have
ference of any kind.
is easier to create a holiday
Thus it has happened that the day has been scarcely of the year. Of course, it
from the calendar. The fact
observed at all. The banks and financial institutions than to remove it again
made Columbus Day
could not well,keep open, since it was a legal holiday. that several other States have
the difficulties; but these
The Stock Exchange and the mercantile exchanges, a holiday apparently adds to
the footsteps of New
Which in their operations are more or less dependent States have simply followed in
as New York underon the facilities afforded by the banks,' also perforce York. When such a large State
to the legal shutting
.had to shut down, and in this way a portion of the takes to furnish countenance
very, naturally think
community was put in a state of enforced idleness. down of business, other States
to avoid embarrassment from
But beyond that the effect of the legislative decree it best to follow suit
intercourse with this part of the
litaking.the day a holiday did not extend. Where the inability to carry on
such holiday. As showing the
obstacles to so doing were not insuperable, the mer- country by reason of
the part of the different States
chant, the business man, the wage-earner and the sequence of events on
holiday, we may note that in
workingman all testified their dislike for the new holi- in establishing the new
Columbus Day became a
creating
day by: remaining at work—always barring those this State the Act
Jersey it did not become
New
in
Italian societies. which availed of the occasion to en- law on March 23 last;
vania not till April 29
Pennsyl
in
gage .in parade Obviously, however, business has a law until April 21,
Thus the movement
10.
May
until
to be,conducted under a ticided - luvidicap While a and in Illinois not
•thence over the
and
spread
State
part of .the community is in enforced idleness. The originated in this
Legislature
York
if
the
New
ngly,
fact :that deposits cannot be made at the banks, or country. Accordi
and repeal
the
ty.
of
communi
drafts. and checks cashed, is ,itself a great obstacle. shall heed the wishes
States
other
the
that
not
unlikely
It is for,these..reasons that the ordinary man objects the law, it seems
holi.new
this
thus
and
steps
their
so strenuously to the additional holiday. Though he would also retrace
records.
the
d
from
be
expunge
want,
be determine& to ignore the day, he cannot carry on day, which so few
his daily affairs except under difficulties.
The feature of the week in financial and monetary
The Legislature should respond, to the popular wish
t rates by leadby rescinding its action and.:repealing the new law centres has been the advance in discoun
Imperial Bank
the
Monday
.when itre-convenes next January. An erroneottS:itn- ing banks in Europe. On
and on Thurs6%
to
4
from
rate
.pressionipreyails that to declare . holidays is to confer of Germany raised its
m from
minimu
its
up
put
a.,benefit,,upon: the workihg ci..asse!4: 1114t from it: day the Bank of England
ted,
unexpec
entirely
was
event
Neither
3% to t
The greater part of the laboring
ELECTRIC RAILWAY SECTION.
A new number of our "Electric Railway" section,
revised to date, is sent to our subscribers to-day. The
editorial discuSsions in the same embrace the following
topics: "Express Traffic on Electric Railways,"
"Trolley Development on Long Island " and "The
Traction Situation in Cleveland."
OCT. 16 1909.i
THE CHRONICLE
95;1
ob- both these classes of stock from a 4% basis per annum
though in•the case of the Bank of England most
to a 5%•basis. If we should go back beyond last
servers had looked for a rise of only IA of 1% instead
per- week, many other instances of inciased 'dividends
of the full 1%. The reason for the action seems
some could be cited, for the tendency (under improving
fectly • plain,. • but certain critics who • look for
that earnings and with the prospect of still better results in
occult motive behind every move affect to believe
against the future as a consequence of good crops and trade
the action of the Bank of England was directed
ation activity) has been distinctly upward. Another event
Wall Street speculators, and that it is a notific
that of the presentS week Of more or less importance has
to these 'speculators, or assumed speculators,
been the purchase by the Hawley interests of a large
the Bank :does not approve of American borrowing
hip in the Missouri Kansas & Texas fly.
abroad through finance hills, But the . evidence of• owners
control in conjunction with Speyer
what prompted the managers to make the advance Mr. Hawley gets
B. F: Yoakum. Mr. Hawley's.hold on this
lies within View and no forced construction .is neces- & Co. and
weeks property should prove beneficial -to the other roads
sary. The'Bank of England has during recent
are which he controls, particularly the Chicago & Alton
been lasing gold at a rapid rate; and the inanagera
of. the and the Toledo St. Louis & Western and, vice versa,
'seeking as far .as• possible to.protect their stock
the Missouri Kansas & Texas itself. We may be
metal froth further encroachment., And :the drain has to
ies. sure that the entrance of these new interests into the
come, nottfrorn New York,. but,:from other .conntr
company means ita further deVelopment and, in a
The Bank's,..statement the present. Thursday showed
larger sense,the develOPment of the-tolitory- tributary
loss ';of "bullion for the . week of $5,492,040. Last
to the lines of the system.
week'there was a loss of no less, than. $11,608,590,
week
the previous week a loss of $10,870,000, and the
Trade revival, which is reaching 'such •enormetis
,055.
before' a'loss of $4,516
in the iron and steelindustry,.does not seem
Thus in' the four weeks the stock . of gold in. the proportions
in the copper trade. Stocks of copper
Bank has been reduced no less than .$32,486;685.. to be in evidence
abroad and they. are also again inup
piling
And whither,did this gold go? This week $1,700,000 :keep on
On Monday (,)f this week the
home.
at
was'exported to Egypt, $2,000,000 to Constantinople -creasing
tion made public its usual
Associa
ers'
and $325,000 to other countries. Last week :no less Copper Produc
is .now isaued • with such
which
ent,'
statem
y
than $6,150,000 was taken by Egypt and $1,000,000 monthl
ent showed.- that • the
statem
This
ity.'
by Other countries. . The previous week $4,420,000 great regular was being 'maintained' at high figures,
went to•Egypt and $3,275,000 to. South America ,and copper output
same time the domestic cOnsumption was
other cOuntries, while in the week ending Sept. 23 while at the
that, notwithstanding' pretty large exso
ing,
$2,625,000 went to Egypt, $1,800,000 to South Amer- decreas
added to in amount of.15,840,207
were
stocks
ica and $630,000 to other countries. Altogether the ports,
production. \vita I•18,023,139 pounds
brief,
In
.
pounds
Bank* ihaa ..been called upon .to .supply no less than
of September, as against 120,597,days
thirty
the
for
• $13;895,000 gold to Egypt during the last four weeks,
for the thirty-one day'of August. The
• $5,325,000 to 'South America and $3,705,000 to other 234 pounds
ies, on the, other hand, 'were :only '402,182,932
countries,Inaking the total exp.ort requirements dur- deliver
Of these deliveries, 52,105,155' pounds were
ing .tlie:46tir weeks $22,925,000. While this •heavy pounds.
consumption (as 'against 59,614,207
drain on ;foreign account .was in progress, the ..Bank for domestic
and 75,520,083 pound:for ,July)
was 'Called upon to meet large requirements on the pounds for Anguat
s were for export, against 48,• part. Of. the.. .interior of Great Britain.. The present and 50,077,777'pound
Auguat and 76,018,974 peundifor
week thenet shipments to the interior were $1,465,000, 382,704 pounds for
been a marked falling Off from
last Week they were. $5,460,000 and the week before July. Thus there has
figures in both the domestie deliv$3;175,000 All this time large amounts of gold the previoua high
nts abroad. Copper stocks are
were'being received in London each week from South eries and the shipme
151,472,772 pounds, as against 122,357,256
Africa.,' but the hulk of the whole arrivals was secured now
on Jan. 1.
by Russia: . The Bank of England got none of them. pounds
is the most unfavorable feature in the
what
But
manThus' Vigorous action became necessary, and the
growth in the copper accumulations
agers of. the Bank determined to take no half-way situation is the
been no recent month in which
measures but to make an advance that appeared likely abroad. There has
there has not been a considerable 'addition to these
toprOve effective for the purpose.
accumulations, and since the first of May-L-that is,
e has been no
The:improvement in railroad earnings, which has during the last five months—the increas
pounds. The visible supply in
been such a feature the present year, is finding ex- less than 96,169,920
pounds, against only 112,pression in increased dividend returns to the share- Europe is now 210,226,240
1 last year and but 27,189,120
holders in the case of many different companies. 620,480 pounds on Oct.
If to the 210,226,240 pounds
Last week the Atchison Topeka & Santa Fe restored pounds on Oct: 11907.
the 151,472,772 pounds of doits common stock to a 6% basis by raising the semi- held abroad we add
that the aggregate of blister
annual declaration from 23/2% to 3%. The present mestic stocks and assume
l in process of refining on Oct. 1
week'the 'Norfolk & Western has restored its common copper and materia
d by the United States Geostock to a 5% basis, as against the 4% basis adopted was the same as reporte
1, namely 234,013,843 pOunds,
after' the panic of 1907. The semi-annual payment logical Survey for Jan.
huge aggregate of 595,712,855 pounds of
due in December will be 23/2% instead of 2%. Another we have the
The "Boston News Bureau" is aucompany which has this week taken similar action is copper in sight.
that there is also an invisible
the Pacific Coast Co. Here the quarterly dividend thority for the statement
Atlantic of no less than
on both the common and the second preferred shares surplus on the other side of the
make a grand total
would
1%, thus advancing 100,000,000 pounds. This
/
has been raised from 1% to 11
958
THE CHRONICLE
[VOL. Lxxxix.
of supplies of, roughly, 700 million pounds. Under lions, or nearly double the total of Sept. 1900.
The
these circumstances it is not surprising that the price volume of circulation has been further added to,
the
of the metal does not improve.
total now standing at 658 millions of dollars.
Our system of national banks is just now in a state
Our foreign export movement of commodities for
of modification. We are looking forward to a better September 1909 apparently exceeded in value the
total
currency which legislation will be able to offer—one for the corresponding month of 1908,
but only in a
more responsive to trade conditions. The chief pro-• nominal amount. At least that
is the conclusion we
posed changes will not only facilitate commercial draw from the advance statement
of shipments of
operations, but tend to prevent the periodically-re- leading articles issued this week. But
that there is
curring monetary spasms in financial markets. The any excess at all, instead of a decline,
is due solely to
need for these modifications has long been felt, but the higher price obtained for
cotton this year. In
divergence of views as to their specific character has fact, while measured by quantity,
the exports of cotthus far stood in the way of securing the proper legis- ton the current September
were only moderately
lation. The time, however, is now believed to be not greater than in 1908 (comparison
being between
remote when public opinion, being thoroughly awak- 699,668 bales and 663,291 bales),
the value showed a
.ened to the urgent needs of the country, will act de- very important increase—from $32,485,795
in 1908
cisively. In the meantime, it is especially interesting to $46,168,510 in 1909. Moreover, the month's
exto note the position attained by the system after its ports of cotton were, as regards quantity,
with one
almost fifty years of development, and the character exception (1904) the heaviest on record for
September,
•of its more recent growth.
and, on account of the high average price obtained
The latest figures published of the complete system (12% cents per pound, against
9% cents in 1908),
are those for Sept. 1 1909. They impress one with gave a value never before
reached in the opening
the strength, soundness and wide extent of the growth month of the cotton season. It
is to be noted also that
(only limited by the country's needs) of the institu- the outflow of corn and wheat-flour
was a little greater
tions. Barring comparatively short periods after this year than last during September,
but concurrently
the financial disturbances which every few years sweep there was a heavy shrinkage in wheat
exports, which
over the country, the history of the national banking reached an aggregate only half of what
they were a
system has been a record of expansion along all the year ago. It thus follows that shipments
of all kinds
lines that make for its usefulness. These dips are of breadstuffs totaled a value of only
$14,143,540,
only of short duration, however, and are followed by against $19,931,062 for the same month
of last year
quick recovery. Not the least important featnre of and $17,555,230 in 1907. The efflux
of provisions in
this growth has been the vast number of banks September was also less this
year, covering a value
opened in more sparsely settled communities, where about 3 million dollars below
the month in either
banking facilities were most urgently called for. In 1908 or 1907, and the movement
of cattle and hogs,
fact, this has been going on for so long a time that it a small item in any event, was one-third less
in 1909
may almost be said now that the need has only to be than in 1908. Mineral oils exports, on the other
hand,
manifest to be quite promptly supplied. In referring were the heaviest on record for a single month as reto the extension of the national banking system a few gards quantity,and close to record in value; but on ac'weeks ago, we stated that banks were being organized count of lower price per gallon, exceeded last
year by
at the rate of about one a day, a progress that has been only $152,826. Combining the items to which
referquite well kept pace with since then,as will be seen by ence has been made, we have an aggregate
value of
this latest abstract. In the 59 business days between shipments of $80,639,450, which compares with
$76,June 23 and Sept. 1, the number of institutions that 087,198 in September 1908 and 631A millions in
1907.
began business was fifty-one. Furthermore, since
Contrasting sharply with the outward movement,
Sept. 1, or, more properly speaking, during the month imports of merchandise continue large, as above
of September, 40 applications to organize national stated.
The only complete data at hand are the
banks were received, and during the same period 24 figures of inward movement furnished by the New
banks, with a total capital of $2,025,000, were au- York Custom House, and as a little over 60% of the
thorized to begin business. Of these latter, 14 had total imports of the country pass through this port, the
individual capital of less than $50,000 each—the class figures available should be fairly indicative of the
of institutions organized in communities where ex- general result. For September 1909 the value of the
tensive facilities are not required.
imports at New York was $72,057,948, against $59,But growth in number is by no means the only 166,034 in the month of 1908, or an increase of
nearly
satisfactory feature of the Sept. 1 statement; on the 13 millions. Partial returns from some other
ports
contrary, all the important items going to make up also indicate that the inward movement
of goods
the statement show very important expansion. Thus, has been larger than last year. Altogether, therefore,
the total of loans on Sept. 1, at 5,129 millions of dol- it would seem warranted to assume that the aggregate
lars, exhibits a gain of 93 millions over the aggregate gain in the country's merchandise imports this
Sepfor June 23 1909, and consequently makes a new record. tember, as compared with a year ago, has
been apContrasted with Sept. 23 1908, there is an excess of proximately 20 millions of dollars, giving a total well
378 millions, and compared with Feb. 1 1908 the in- in excess of any earlier September. Considering this
crease is 706 millions. Individual deposits likewise gain in imports in connection With
the small increase•
indubitably reflect the improvement in progress. At in exports (which we estimate at about 3 millions),
the low ,point, after the panic (in February 1908), the net exports balance for September would be apthis item had dropped to 4,106 millions of dollars, but proximately 17 millions of dollars, against 41 millions
in the short space of 1M years has risen to 5,010 mil- a year ago and 29 millions in 1907. This would
make
Our. 16 1909
THE CHRONICLE
959
the calendar year's 9 months' balance of exports only was available in the market on Monday, paying 77
about 85 millions, the smallest since 1895, when an shillings 10 pence per ounce therefor, a concession,
import balance was shown, and comparing with the compared with the last price, of one farthing.
Some apprehension was felt in European centres on
record outward balance of 432 millions last year.
Tuesday because of the possible advance on Thursday
Out of the causes that developed last week to un- of the Bank of England rate. In anticipation of such
settle the European political situation, only a few were, a course, discounts were firmer, and ordinarily active
at the beginning of the current week, so modified as securities were easier on all the bourses; the New York
to make them less disturbing. Military operations in holiday was, though, partly responsible for the condiMorocco were apparently in a state of suspense; at tion in London, which was reflected in the dull market.
least there were no official reports of activity, and it Not only was there discount tension at the chief cities,
was assumed that General Marina was still in an en- but also at Vienna, Amsterdam and Brussels, and on
trenched position on Mount Guruga, awaiting rein- Wednesday a rise in the English Bank rate seemed to
be certain, the market then being affected by the Lonforcements.
An incident likely to be of a disturbing charac- don Stock Exchange settlement, which showed high
ter seemed to be feared early in the week that may contango rates as an unfavorable feature. The Bank
possibly account for the inactivity of the Spanish of England directors on Thursday confirmed the week's
military forces. It was announced on Monday that rumors, raising the discount rate from 3% to 4%,
Professor Ferrer, the former director of the Modern though it had been thought probable that 3% would
School at Barcelona, who had been on trial at that city be the maximum.
It seems likely that expectations which have been
on a charge of having been a notorious anarchist and
the principal instigator of the recent revolutionary entertained by bankers and speculators of more or less
movement, had been sentenced to death. Appeal was liberal imports of gold from London by New York
taken to the Spanish Cabinet, but after examination will not be realized. The European demand for the
of the evidence the Government refused all clemency metal is converging upon the British bullion market,
and it became clear that unless the King should in- and accumulations from its sources of supply are
tervene the sentence would be carried into effect. promptly absorbed. In order to check the drain, the
There appeared to be widespread sympathy among the price of bar gold has been at intervals advanced, in
Socialists in Spain for the professor. In Rome and in such a way, though, as not to interfere with legitimate
the various towns of Italy and in Paris demonstrations requirements for the metal. If New York bankers
were held in protest against his condemnation. should now enter the London bullion market as purTwenty thousand workmen gathered in Rome, vio- chasers of gold for shipment hither, it appears certain
lently denouncing Spain and the action of the Spanish that the premium on the metal would be advanced
Government; in consequence of the attempt to con- in London almost to a prohibitive price—or to such a
duct these demonstrations before the Spanish embas- figure as to compel the importer to purchase sovereigns
sies in Rome, the troops and police interfered. It was instead of bars. This rise in the price of gold would
reported that the Pope and Cardinal del Val had de- operate, in the exchange market, in the same way as
cided to ascertain if, through the intervention of the would arise in official discounts, which directly afVatican, it would be possible to obtain from King fects the rate for exchange at New York on London.
Alfonso a pardon for Ferrer. Such intervention was The change in the price of gold might occur even while
not permitted, and the condemned man was executed the metal was in transit, thereby involving the imon Wednesday. Riotous demonstrations thereupon porter in loss; this risk would tend to deter operations
developed at many of the European centres—Paris, of this character unless conditions were such as to
Rome, Vienna, Trieste, and many other points in justify the hazard.
Italy and France.
The bank statement of last week was quite striking
in
imthe
tension
Germany,
and
character. Average deposits exceeded loans by
in
continued
The
than
otherwise
another
5 millions; actual deposits showed but 3 millions
through
only
relief
probability of
to
rate,
seemed
discount
Average loans decreased 36 millions during
Reischsbank's
excess.
the
in
advance
on
5%
and
course,
Monday
and the actual decrease in this item was 49
week
the
a
such
imperative
make
rise
previous
from
Average deposits were reduced 49 millions,
millions.
the
following
recorded,
3%
was
adthe
cause
for
than the actual decrease in loans. Actrifle
less
immediate
a
or
The
20.
Sept.
4%
to
vance was, as stated by Herr Havenstein, the Presi- tual deposits fell off about 523/b millions. As the redent of the Bank, to the central committee, the ex- sult of these changes, and of a loss of $12,300,000 cash,
traordinary pressure at the end of the quarter, which the average decrease in reserve was $143,925, to $4,he attributed chiefly to intensified activity in specula- 547,750; actual conditions, which reported a loss of
2 millions cash, showed a gain of $5,619,275 in
tion in securities on the Stock Exchange. He also 73'
remarked that private banks had been expanding long- reserve to $7,246,800; and computed upon deposits
time credits. The immense volume of new stock and less those of $1,649,300 public funds the surplus was
bond issues this year also had tended to narrow the $7,659,175.
money market. The advance in the Bank's rate, he
There was no market on Tuesday. The intervenfurther said, must be interpreted as a warning to curtion of the Columbus holiday on that day gave opportail excessive demands for credits.
At London discounts grew firmer on the announce- tunity for stock traders and commission houses to clear
ment of the advance in the German Bank rate. The up the unfinished business of the previous week; the
foreign gold demand continues from Russia. Paris, closing of the banks and other financial institutions
however, secured the £3,400,000 Cape gold, which on Tuesday caused a general suspension of trading in
960
THE CHRONICLE
all departments. When business was resumed on
Wednesday, the market was active. Money on call,
representing bank and trust company balances, loaned
during the week at the Stock Exchange at 5% and at
4%, averaging 4%%; all lenders quoted 4% as the
minimum. Time loans on good mixed Stock Exchange
collateral were in good request, and especially those
for ninety days, which would carry the borrower over
the end of the year, and there were some liberal offerings of such loans at 5%, the highest thus far quoted
for this period of maturity. Sixty-day loans were
effected at 44
3 %,and this rate was bid at the close,
with 5% asked; four months' money was also 4%@
5%. This shows that the market was strong for all
short fixed dates; it was, however, inclined to be easier
for five to six months, for a few loans were placed for
such periods late on Wednesday, because .of a better
supply, when the bid rate was reduced to
The
commercial paper market ruled firm;for sixty to ninety
day endorsed bills receivable the quotation was 5@
53(
1% and the best four to six months' single names
were 53's@6%. These rates encourage buying by commercial banksfor investment,but the business is small.
[VOL. LXXXiX
what confidently expected—contributed to activity
and wide fluctuations in exchange with sight and cables
still in more or less urgent demand. One disturbing
factor was concern regarding the ability of some local
banks to protect their loans in view of the fact that
exchange rates on London were unfavorable for gold
imports, upon which some reliance had been placed
for the relief of our market. On Thursday all doubt
as to the action of the Bank of England was dispelled
by the news of an advance in the discount rate from
3% to 4%. The announcement had little influence
upon the market, as it had been discounted; rates
then were at about the highest of the week.
Compared with Friday of last week, rates for exchange on Saturday were 10 points lower for long at
4 8315@4 8325 and unchanged for short and cables.
On Monday long fell 5 points to 4 8310@4 8320, short
rose 15 points to 4 8580®4 8585 and cables 25 points
to 4 8620®4 8630. On Wednesday long was 10 points
lower at 4 83@4 8310, short 10 points higher at 4 8595
@,4 8615 and cables 30 points at 4 8645@4 8650. On
Thursday long fell 5 points to 4 8285@4 8310, short
rose 5 points to 4 86@4 8610 and cables 5 points to
4 8645@4 8655. On Friday long was 15, and short
The Bank of England rate of discount was advanced and cables 5 points lower.
this week to 4%. The cable reports discounts of sixty
The following shows daily posted rates for sterling
day bank bills in London 398@33
,%; for ninety exchange by some of the leading drawers:
3 %. The open market rate at
days it is 34
Fri., Mon., Tues., Wed., Thurs., Fri.,
Oct. 8. Oct. 11. Oct. 12. Oct. 13. Oct. 14. Oct. 15.
Paris is 23/2% and at Berlin and Frankfort
560 days 4 85%
8434
8434
8434
845
84%
it is 3@4%. According to our special cable Brown
Bros. it Co
JSight__ 4 87
86%
86%
86%
8634
863.'
Kidder,
560 days 4 85%
84%
8434
843
8434
8434
from London, the Bank of England lost £1,098,408 Peabody & Co 'Sight__ 4 87
8634
8634
8634
8634
86%
Bank British
160 days 4 853
845
84%
8434
8434
84%
bullion during the week and held £33,814,932 at the North America_ _ _ _'Sight__ 4 87
86%
86%
865
86%
86%
Bank of
560 days 4 853
8434
843
84%
8434
8434
Montreal
JSight__ 4 87
8634
863
8634
8634
close of the week. Our correspondent further ad- Canadian
86%
Bank
160 days 4 85%
8434
843
84%
845
843",
of
Commerce
iSight.... 4 87
8634
8634
863
8634
8634
vises us that the loss was due mainly to exports to Heldelbach,
8434
Ickel160 days 4 8534
8434
843.',
8434
8434
heimer & Co
'(Sight„ 4 87
8634
8634
8634
8634
8634
Egypt and Constantinople. The details of the move- Lazard
160 days 4 8534
8434
8434
8434
8434
8434
Freres
1Sight__ 4 87
8654
8634
8634
8654
8634
ment into and out of the Bank were as follows: Im- Merchants'
Bank
160 days 4 8534
8434
8434
8434
8434
8434
of Canada
Wight__ 4 87
8634
8634
8634
8634
8634
ports, nil; exports, £805,000 (of which £340,000 to
Rates for exchange on Friday were 4 8285@4 8295
Egypt, £400,000 to Constantinople and £65,000 to
various destinations), and shipments of £293,000 net for long, 4 86@4 8605 for short and 4 8645@4 8650
for cables. Commercial on banks 4 8265®4 8275
to the interior of Great Britain.
and documents for payment 4 82@4 83. Cotton for
The foreign exchange market was exceedingly active payment 4 82@4 823i, cotton for acceptance 4 8265
this week, with wide fluctuations, especially in short @4 8275 and grain for payment 4 82%@4 83.
and cables, upon which business seemed chiefly conThe following gives the week's movement of money
centrated. There were large commitments that were
and from the interior by the New York banks.
to
maturing abroad this week; others had to be provided
Net Interier
Shipped by
Received by
for because of the almost universal discount tension 'Week ending October 15 1909. N.
Movement.
1. Banks. N. F. Banks.
which developed as the result of the advance in the Currency
$7,987,000
$9,730.000 Loss $1,743,000
1,967,000 Loss
860,000
1,107,000
German Bank rate. The occurrence of the semi- Gold
$9,094,000 $11,697,000 Loss $2,603,000
Total gold and legal-tenders
monthly settlement on the London Stock Exchange
Result with Sub-Treasury operations:
was another factor contributing to high rates; contangoes advanced and difficulty was experienced in
Out of
Net Change in
Into
Banks.
Banks.
Bank Holdings .
Week ending October 15 1909.
the carry-over to the next settlement. The indications
$9,094,000 $11,697,000 Loss $2,603,000
Banks' interior movement, as above_
27,100,000
30,100,000 Loss 3,000,000
seemed to point to a further advance in the Bank of Sub-Treasury operations
836,194,000 $41,797,000 Loss $5,603,000
England rate this week, the German Reichsbank and Total gold and legal-tenders
the Banks of Vienna, Amsterdam and Brussels having
The following table indicates the amount of bullion
already taken that course; and these announcements in the principal European banks:
had a disturbing effect upon discounts in London
October 14 1909.
October 15 1908.
which was reflected in our exchange market. The Banks of Gold.
Silver.
Total.
Gold.
Silver.
tone at the opening on Monday was strong for the
33,814,932 36,533,520
33,814,93'z'
36,533,520
reasons here noted, with the inquiry chiefly for cables England..
France -- 144,810,160 35,823,320 180,633,480130,496,855 35,543,841 166,040,696
34,125,700 11,462,100 45,587,800 40,569,9
12,900,000 53,469,000
incident to the London settlement and maturing Germany
Russia _ _ 132,667,000 7.460,000 140,127,000120,737,00
6,847,000 127,584,000
Aus.-Hun. 57,385,000 12,176,000 69,561,000 48,633,00 12,663,000 61,296,000
obligations. The following day was a holiday here, Spain
... _ 16,059,000 31,118,000 47,177,000 15,741,000 33,096,000 48,837,000
_ _ 37,250,000 4,000,000 41,250,00 37,035,00
4,490,000 41,525,000
which, being of a legal character, was compulsorily Italy
3,971,100 11,741,600
Neth'ands 10,525,000 2,902,700 13,427,700 7,770,50
2,038.000 6.114,000
Nat.Belg.. 4,238,667 2,119,333 6.358,000 4,076,00
observed by banks at this centre. On Wednesday the Sweden _ _ 4,381,000
4,180,000
4,381,000 4,180,0
Switzerl'd. 4,939,000
4,622,000
4,939,000 4,622.00
uncertain outlook abroad regarding the immediate Norway _ _ 1.727,000
1,618,000
1,727,000 1,618,00
future of discounts—the reports of a probable advance Tot. week_ 481,922.459 107,061,453588,983,912452,011,875111,548,941 563,560,816
Tot. prey_ 482,453,083 108,251,497590,704,580451,100,067111,850,280563,040,347
in the Bank of England rate on Thursday being some
Our. 16 1909.1
THE CIIRONICLE
961
"I am compelled to take one of two views, and there
is
nothing between them. Either when a newspaper
SUIT.
LIBEL
ENT
GOVERNM
END OF A
or proprietor does what the evidence in this
owner
On Tuesday of the present _week, the United States case shows those defendants did, composed, printed
District Court at Indianapolis announced its decision and deposited in the mails for circulation these papers
in the so-called "Panama Canal libel suit," brought in containing the, for the purposes of this statement,
in
the last days of the Roosevelt Administration against libelous articles, either they are nifty here and
these
which
into
or
jurisdiction
district
every
county,
the "New York World" and the "Indianapolis News." papers go, or they are only guilty here. There is no
The circumstances of this suit are familiar to most middle ground to take. When these defendants put
people. The newspapers in question had published these papers containing these (I will hereafter call
pretty positive assertions that the negotiations them) libelous articles into the post office here in
through which the Panama Canal was acquired from Indianapolis, and they went through the mails throughout the country into the various States, counties and
the French shareholders for the United States had districts of the United States, either it became a
been surrounded with something in the nature of pri- crime, a separate and independent crime, in every one
vate "graft." More particularly, they had insinu- of the counties, districts or States into which the papers
ated a connection with such questionable operations went, or there was but one crime, and that was here.
"Where people print a newspaper here and deposit
on the part of several well-known citizens, among them
in the post office here for circulation throughout
it
brothaw,
Taft's
Mr.
President Roosevelt's brother-in-l
the counties and districts, there is but one publicaer and the attorney for the United States Government tion, and that one is here.
in the Panama negotiations.
"If the history of liberty means anything, if the ConAt this distance of time,it is possible to say that not stitution means anything, then the prosecuting autria shred of legitimate evidence has been produced to thority should not have the power to select the the
than one to select from, at
more
be
there
if
burial,
this
in
or
specific
allegations
support either the general
capital of the nation, nor should the Government have
matter. The case appears to be that some one had the power to drag citizens from distant States there for
indulged in conjecture or inference of his own as to trial."
what might have been done under the circumstances,
It appears to us that this conclusion is not only sound
had misunderstood certain recorded facts in the negotiations, and had misled the newspapers into print- law, but is in all respects a gratifying decision to those
ing as accusations what ought, under no conceivable who have the public interest at heart. Let us grant,
by
circumstances, to have passed beyond the realm of for the sake of argument, that a libel punishable
mere conjecture. We felt at the time, and we still law had been committed, and that punishment was
of
feel, that publication of the matter referred to in the desirable and necessary. What then? The law
was
newspapers was not only improper as a matter of libel runs in the place where the supposed crime
political comment, but was distinct invasion of the committed quite as well as in the place to which the
Government wished to transfer the defendants. The
proprieties of private life
Had the matter come into court in the form of an courts of New York and Indiana offer abundant proordinary libel suit by the offended individuals against tection to individuals on whom the wrong of libelous
the offending newspapers, it is not probable that any publications has been perpetrated. Such individuals
great attention would have been attracted to it. The may sue in the State courts for civil damages, the State
form which the litigation assumed, however, was so district attorneys may bring suit for criminal libel,
peculiar as to involve very different considerations. and even the Federal prosecutors may bring suit in
The United States Government itself entered suit for the Federal courts of the communities in question.
criminal libel; the prosecution was conducted by the The remedy is clear, it is constantly applied, no comFederal District Attorney, and the demand was imme- plaint is habitually made that the law is inadequate
diately made by the prosecutors for the transfer of the for the offense, and no such complaint is made in
case to Washington, where it might be tried on Fed- the present instance.
On the face of things, then, it would certainly appear
eral territory and under immediate Federal supervision.
To this demand the most strenuous objections were that the request for removal of the case to another
made, both on Constitutional grounds and on the ba- jurisdiction was superfluous. If, however, it be asked
sis of common law. Judge Anderson, in his decision whether that is the only objection to the Governof last Tuesday, decides the case against the Govern- ment's plan for transferring the trial and haling the
ment. In some respects his decision will not attract defendants to Federal territory, there is another and
universal approbation. His remark that "there were more important answer, namely,that such action, even
many peculiar circumstances about the whole Panama if not actually oppressive in the present case, would
Canal business," that "there were a number of people surely offer opportunities and precedent for very great
who thought there was something wrong—something oppression in conceivable circumstances. In the first
not just exactly right—about the transaction," and place, it is not alone a Matter of bringing the defendthat "I say for myself that I now feel a natural curi- ant from his own vicinage to the Federal capital. If
osity to know what the real truth was," will possibly this claim were to be conceded, it is quite conceivable
be regarded by many people:as superfluous °biter dicta, that in a future case any Federal territory might be
under the immediate circumstances of the case. We named. It is even possible to imagine a defendant
have already expressed our own opinion as to the pro- removed first from his own community to one stretch
priety of the action by the newspapers in question. of Federal property, then from that territory, reserThe important part of Judge Anderson's decision, how- vation or island to another, and so to still others.
No doubt,it may be argued that to picture this is to
ever, had reference to the question of removing the defendants to another district and to Federal territory. stretch the natural probabilities of the case. And so it
On this point Judge Anderson gives the following de- is. But when precedents of importance are being
created, especially in the relations of governments to
cision:
962
THE CHRONICLE
citizens, it is the extreme possibility which must always be kept foremost in mind. That the Government
would gain an unfair advantage in a trial thus conducted, does not follow of itself. But the power of
annoyance thus conferred would, in the hands of an
unscrupulous or exasperated public official, be a powerful and dangerous weapon. That it might be used
even in advance, by way of threatening and coercing
hostile critics of a given public policy, is by no means
beyond the domain of political possibilities. Exercise
of a not dissimilar power, or the threat of exercising it,
is and always has been a familiar recourse of despotic
governments. The assertion of the right to drag
American citizens to England, for a trial in which the
British Government did not choose to leave jurisdiction to the courts of the Colonies themselves, was one
of the chief provocations to the American revolt
against George the Third. Nothing in the history of
modern Russia has been more profoundly impressive
as an instance of governmental tyranny than the constant seizure of political suspects and their removal to a
distant city, there to await trial apart from their friends
and associates.
We have no purpose of insinuating that such consequences would have ensued in case the right claimed
in the Panama libel suit had been conceded by the
courts. But what Webster, in one of his greatest
speeches, described as the "seminal principle of mischief" in a matter affecting vitally the publi.e rights,
is the consideration of the first importance. The Indiana court, we think, did well in throwing out the
Government's contention. Even if existing statutes
and legal precedent had, prima facie, favored the
case for the Government—which they apparently did
not—we believe it would have been the duty of the
courts to strain to the uttermost, in protection of the
citizen, their construction of the law, and that it
would have been the duty of the legislative branch of
Government to alter the law with the least possible
delay.
THE ILLINOIS CENTRAL REPORT.
The Illinois Central income statement shows final
results much the same as in the previous year, which
means that there was little recovery after the severe
shrinkage experienced in 1907-08. Such an outcome
is not surprising in the case of a property like the Illinois Central, a large portion of whose mileage traverses
some of the largest manufacturing sections in the
Middle West. These manufacturing districts, like
those further East, quite naturally felt the industrial
depression very much more than the sections of country in the western half of the United States, where
manufacturing industries do not abound, but where
agricultural communities predominate. In the manufacturing sections, too, recovery from the industrial
paralysis was relatively slow until pretty well towards
the close of the fiscal year covered by the present report.
President J. T. Harahan summarizes the situation
correctly when he says that the period covered by the
report was one of slow recovery. He notes that the
lethargy in business generally was further increased by
the uncertainties of a Presidential election and the
wide-spread agitation for tariff revision. He also
observes, however, that at the present time these
disturbing factors have been eliminated, and, with
[VOL. Lxxxix.
abundant crops practically assured, the prospects for
the ensuing year are very good. He does not think it
necessary to say that the Illinois Central is certain to
share in this prosperity, but that follows as a matter
of course in the case of a property so well managed and
in such excellent shape as the Central.
During the last decade the company has increased
its traffic and revenue in a notable degree, and under
these circumstances it must be deemed very encouraging that revenues should have held up so well. A diagram in the report (there are a number of these diagrams, which indicate in a graphic way the progress
and development of the property) shows that between
1900 and 1907 gross transportation revenues increased
80%, rising from $32,973,745 to $59,528,097, while
the recession in the two years since then has been only
from $59,528,097 to $57,145,512. Even this last
gives an exaggerated idea of the falling off in business,.
since the figures deal with what is known as the gross
operating income, consisting not alone of the operating revenues, but also of the income incident to operations. In this latter, as it happens, there was a falling
off of $1,693,125 during the late year, due to the fact
that the company received from hire of equipment
only $1,721,365 in 1908-09, as against $3,520,111 in
1907-08. The reduction in that case followed from
the falling off in the use of the:company's cars by other
roads and from the further fact that the reduction from
50 cts. to 25 cts. per day in the per diem rate for cars
was in force during the entire year, as against only four
months in the previous fiscal year. Except for the
loss in this item, total transportation revenues would
have been $58,944,258 in the late year, or only about
half a million dollars below the record total reached
two years ago, making it evident how well the company has been holding its own. In the ordinary operating revenues there was an increase during the late
year of $841,909, attended by an augmentation in expenses of $474,390, leaving the net earnings changed
in only a relatively slight way.
The loss of $1,693,125 in the income incident
to operations, was offset to the extent of $1,459,503
by a reduction in the expenditures other than operating expenses. Here the reduction followed from a
decrease in the company's own payments for hire of
equipment. In reviewing the report for the previous
year, we pointed out that the road had been handicapped by the lack of sufficient equipment, and that
this had operated as a double disadvantage, first, in
adding to the cost of operations by reason of the extra outlay incurred in the hire of equipment,and,secondly, in making it difficult to take care of the traffic.
In the late year the situation in this respect greatly
improved, and consequently the charge for hire of
equipment was only $1,904,919, as against $3,509,189
in 1907-08.
There are two other items in the income account
showing large changes which pretty nearly offset each
other. We refer to the fact that income from investments has increased $1,516,183 and that charges
and rents have risen $1,375,846. Income from investments is always the net amount, the company
crediting itself with the interest received on its security
holdings and then deducting its payments for interest
on its floating debt. As it happens, the' company
credited itself with a whole year's interest on the $30,000,000 first lien equipment 4% loan authorized the
OCT. 16 1909.1
THE CHRONICLE
963
previous year but never put out, as against only a half- and the building of eighty miles of new road from
year's interest on the same loan credited in 1907-08. Corinth, Miss., to Haleyville, Ala., an entrance has
Furthermore, by reason of the funding of the company's been obtained into the city of Birmingham,and the
floating debt, the amount of interest paid on this float- important mineral districts of the South there centred.
ing debt and deducted from the income from invest- During the year under review perhaps the most imments, &c., fell from $901,102 to only $171,257. The portant acquisition of all was made through the purincrease of $1,375,846 in fixed charges followed, of chase from Mr. E. H. Harriman of the Central of
course, from the issue of the $20,000,000 refunding Georgia Ry. Through this purchase, the company is
4% bonds (the interest figuring for about two-thirds put in control of 1,915 miles of track in Georgia, Alaof the year, being $533,333), and from the further fact bama and Tennessee, and gets an outlet to the South
that the $30,000,000 equipment loan counted for the Atlantic coast at Savannah, Ga. The Central of
full twelve months in 1908-09, as against only six Georgia also owns the Ocean Steamship Co., operating
steamer lines between Savannah and New York and
months in 1907-08.
The net result of these various changes has been that Boston. The operations of none of these properties
the amount left for the stock on the operations of the are included in the Illinois Central results.
twelve months of 1908-09 was $8,183,837, against
THE SOUTHERN RAILWAY AND ITS
$7,996,399 in 1907-08. The call for the 7% dividend
OPERATING IMPROVEMENT.
was nearly a million dollars larger than in the previous
As in the case of the Louisville & Nashville RR.,
year, by reason of the increase in the amount of stock
outstanding, and thus the requirement for this pur- the distinguishing feature of the annual report of the
pose was $7,650,720. Hence, a balance remained on Southern Railway Co., issued the present week, is.
the operations of the twelve months over and above the large and noteworthy reduction shown to have
the dividend requirements of somewhat more than half been effected in the operating expenses. That,indeed,
a million dollars. Out of this,$232,267 was contributed was the problem which the Southern Railway, and for
to the fund for replacement of equipment and $251,149 that matter all other roads in the South, had to meet.
was contributed to profit and loss, besides which a The growth in operating cost prior to the panic of
small addition was made to the surplus dividend fund. 1907 was a serious handicap everywhere in the United
In the previous year, with a larger available surplus, States, but nowhere more so than in the case of the
$1,046,963 was contributed towards replacement of roads in the South. The congestion of traffic during
equipment. In 1906-07, with a still larger surplus the prosperous years up to and including 1908 seems
remaining on the year's operations, $3,994,987 was to have been more marked in the South than in other
set aside out of surplus for permanent improvements, parts of the country. The result was that though
while in 1905-06 there was a corresponding appropria- gross revenues, as the result of the expansion in traffic,
kept rising in a most conspicuous fashion,year by
tion out of income in amount of $4,164,739.
It may seem surprising that, with other roads show- year, comparatively little benefit accrued in the way
ing large reductions in operating expenses, the Illinois of increased net, while fixed charges unfortunately
Central's accounts should not be distinguished in the kept running up because of the additional capital
same way. The explanation, however, is very simple. outlays which the roads were obliged to make in order
There was a decided increase in the expenses for main- to provide the extra facilities required to handle
tenance of equipment, due to heavy repairs made to the increased volume of traffic.
In the case of the longer established and more
rolling stock. The expenditures under this head show
an augmentation of no less than $1,809,342. In prosperous systems, continuance of this situation
all the other leading groups of expenditures, important would have threatened their dividend stability. In
decreases are noted, and the remark applies particularly the case of the Southern Railway it involved the susto the transportation expenses. It deserves to be pension of dividends on the preferred shares, and if
pointed out, too, as bearing on the same point, that prolonged would have endangered the actual solvency
the company further enlarged its train-load, from an of the property. The roads were now confronted by
average of 419 tons to 424 tons, this including com- business depression, which meant diminished traffic
pany freight. Back in 1900, it appears from one of and lower gross receipts, and if expenditures could
the diagrams in the report, the average train-load was not be very radically cut down,the outcome would
inevitably be reductions in net earnings, jeopardizing
only 220 tons.
recash
company's
the
the future of the properties. Perhaps there was more
During the twelve months
the
by
way,
first
double
doubt that operating cost could be sufficiently reduced
sources were increased in a
the
by
secondly,
and,
stock,
in
the case of the Southern Railway than in the case
issue of $14,256,000 of new
The
4s.
mortgage
refunding
issue of $20,000,000 new
of the other large systems; but the present report is
result is that, whereas a year ago there were $23,- evidence that the task has been accomplished and in
590,000 of loans and bills payable outstanding, the precisely the way that it was imperative that it should
present year only $1,620,000 of such loans are reported. be accomplished, namely by the development of
In previous reviews we have noted that the confines operating economy and efficiency.
Important steps in that direction had already been
of the Illinois Central system were being considerably
comthe
new
and
that
acquisitions,
through
taken during the last six months of the previous fiscal
enlarged
cenout
for
traffic
reaching
additional
been
year, and these were attended with very good results,,
pany had
the
through
mentioned
we
that,
in the way of the curtailment of the operating
instances,
As
too,
ters.
furto
line
a
is
Southern,
Indianapolis
the saving in expenses having been very large.
outlays,
Indianapolis
&
saving during the year now under review is
Mobile
agreement
with
the
traffic
further
through
The
nished,and
Alabama
significant by reason of this preceding
the
Railway,
Northern
more
the
Southern
all
Ohio, the
brief, gross revenues, in comparison
Birmingham
&
in
Memphis
Stated
City
Kansas
cut.
Ry. and the
964
THE CHRONICLE
with 1907-08, fell off $753,609, while expenses were
reduced no less than $4,285,741, thus producing an
improvement in the net in the large sum of $3,532,131.
In this comparison results for the latest year are on
an average of 7,170 miles, whereas the average for
the previous year was 7,489 miles. The decrease is
due to the fact that the operations of the Tennessee
Central RR. and the Southern Railway in Mississippi
were'included in 1907-08,the latter property beingfrom
January 1 1909 separately operated, while the lease of
the former was surrendered Jane 30 1908. A statement
is incorporated in the report showing what the results
for 1907-08 would have been witho'ut the Tennessee
Central and the Southern Railway in Mississippi, and
this makes it possible to compare like with like.
On that basis, instead of a decrease in the gross
earnings for 19.08-09 we have an increase in amount
of $606,766, showing that the year was on the whole
a better one, as far as traffic was concerned, than. the
Year preceding. The increase in gross revenues was
accompanied by a reduction of $3,010,430 in expenses,
thus yielding a gain in net of $3,617,196, a degree
of improvement even more marked than in the other
case. As the result of this reduction in expenses, the
ratio of expenses (excluding taxes) to the gross revenues for 1908-09 was 68.16%, as against 74.79% in
1907-08. The report tells us that the chief element in
the lower expense ratio has been efficient operating
methods; the statistics in the report bear out the statement. In the first place the biggest portion of the
decrease in operating expenses, namely 55.70% of the
whole,was in the transportation expenses. For 1008-09
the transportation expenses were $18,348,507, against
$20,025,421 in 1907-08, a decrease of $1,676,-914.
The decrease is the more noteworthy inasmuch as
the volume of traffic in both the passenger and the
freight service was augmented. It is true that passenger revenues decreased $377,108, but this is entirely
due to a decrease in the average rate received, which
for 1908-09 was 2.170 cts. per passenger mile, against
2.294 cts. in 1907-08, reflecting the effects of the lower
passenger rates forced upon the road by governmental
action. The road carried 14,977,980 passengers in
the latest year, against 14,091,835 in the previous
year and 622,561,542 passengers one mile, against
605,333,593. In the case of the freight traffic, the
road also had to be contented with a lower average
rate, this having been 9.52 mills per ton per mile,
against 9.74 mills, but there was also a large increase in the average length of haul (indicating a
gain in the long-haul traffic), which caused such an
addition to the tonnage movement one mile as to
produce a gain of $1,050,860 in the freight revenues.
The number of tons of freight handled was the merest
trifle smaller than in the previous year, but the number
moved one mile was 3,612,870,632, against 3,419,824,997. Stated in another way, the road was required to perform 5.64% more transportation service in
the freight traffic and 2.85% more in the passenger
traffic, and yet transportation expenses were reduced
$1,676,914.
When we turn to the engine and mileage statistics,
we readily perceive how the reduction in transportation costs was effected. It appears that notwithstanding the larger volume of traffic moved, considerably less miles were run by the freight locomotives,
also less by the passenger locomotives, and likewise by
[VOL. Lxxxix.
the locomotives in mixed service and the locomotives
employed in switching. Altogether, the total revenue
locomotive mileage' in the latest year was only 37,813,001 miles, against 40,417,982 miles in the previous
year. The saving here is also reflected in a diminished
freight-train mileage and a diminished passenger-train
mileage, with the result that the total revenue-train
mileage was only 30,201,258 miles in 1908-09, against
31,960,205 miles in 1907-08. In other words, there
was a saving in the number of miles run by the trains
of over 1% millions.
The miles run by the freight trains was the smallest
of any year since 1902-03. It was lower even than in
1903-04, when the tonnage movement one mile was
652,000,000 less than in 1908-09. The average train
load was increased during the year from 195 to 215
tons, an addition of over 10%. Previously very little
progress had been made in adding to the train load, as
will appear when we say that the average for 1907-08
at 195 tons compared with 192 tons in 1900-01. Including company freight the train load in the latest
year was 266 tons, which compares with 228 tons in
1907-08 and 222 tons in 1900-01. As a result of this
addition to the train load, the trains earned $2 05 per
mile run in 1908-09, against only $1 90 per mile in
1907-08, notwithstanding the lower rate per ton per
mile.
In the figures given we see how a reduction of
expenses was effected through the enhancement ,of
efficiency. There were reductions, also, of another
kind, of which there is no record in the traffic or
operating statistics. These were referred to in the
report for the previous year and consisted of cuts in
the forces employed in shops, at agencies and in yards,
where the amount of labor employed is regulated by
the amount of traffic handled; there was further
saving through the consolidation of operating divisions
which had been sub-divided in previous years as the
volume of traffic handled had increased. Of course,
also, the change in the labor situation—the fact that
labor was now in over-supply, where previously it had
been in under-supply—served to decrease very materially the cost of labor as it enters into the accounts of
the roads. This change made it possible to select
better and more capable men and to get the men to
do a due amount of work.
This last has an important bearing on the reduction
in the maintenance outlays during the year, amounting
in the case of the expenditures on way and structures
to $720,449 and in the case of maintenance of equipment to $601,981. President Finley states that while
some maintenance work was postponed until increased
revenues shall warrant the expenditure, this was only
in respect of those parts of the properties where deliberate and expert judgment justified postponement upon
the real necessities of the case. He says that the
upkeep of the property has not been neglected but
that the policy has been one of acute and careful
scrutiny of all expenditures for operating account. It
seems pertinent to repeat here also a remark made
the previous year,and which follows from what has
just been said with reference to the improvement in
the labor situation, namely that owing to the increase
of efficiency of individual labor, a comparison of cost
of maintenance is not necessarily a comparison of the
amount of maintenance accomplished inasmuch as
more work, and better work, is obtained on the track
Our. 16 1909
THE CHRONICLE
and in the shop for a dollar to-day than in the period
of pressure of heavy business and competitive demand
for labor.
President Finley points out another particular in
which a great improvement in operating results has
been attained. He says that particular attention was
paid during the year to removing the causes for loss
and damage claims which,with all railroads, are so
heavy a tax on net revenue. He asserts that success
in work of this kind means as much to the security
holders as the establishment on the line of new trafficproducing industries of the largest capacity,and he
proves his case by stating that the disbursements for
loss and damage claims in 1909 were at least $800,000
less than in 1908 and in neither year were there any
extraordinary losses. The saving, he states, was in
the sum of small losses due to greater care in handling
freight and more efficient service. It appears, however, that no part of this saving counted in the year's
results. As a matter of fact, the charges to expenses
for loss and damage in the freight service actually
show an increase of $33,171, notwithstanding the
saving of $800,000 referred to. In the report of VicePresident and General Manager Ackert we are told
that the amount charged in excess of actual losses
was for the purpose of providing a reserve for undetermined losses for which claims may be presented in the
future.
Through the large gain in net earnings as a result
of the higher operating efficiency, a striking improvement in the income strength of the property has been
wrought. We have stated that when the pressure
came in 1908 the company had been obliged to suspend
dividend payments on its preferred shares. As a
matter of fact, in the fiscal year 1907-08 practically
nothing was earned for the stock, the surplus above
fixed charges having been only $401,850. In the year
under review, however, the surplus, notwithstanding
an increase in fixed charges of $776,956, was no less
than $3,589,385. From this $78,285 has been deducted, leaving $3,511,100. The latter sum would be
sufficient to pay the full 5% on the $60,006,000 of
preferred stock and leave a balance of $511,100. It
seems proper to state, too, that this surplus remains
after charging against income $535,214 for discount on
securities sold. It is the policy of the company to
charge this discount item off to income proportionately
during the life of the securities or from time to time to
profit and loss. Besides the $535,214 discount
charged to income,$3,186,500 more was charged to
profit and loss after the latter had been credited with
the $3,511,100 surplus income for the year.
The financial transactions of the twelve months
were large 'and important, and it is evident that the
securities sold had to be disposed of at a large discount, and, indeed, that was inevitable since these
securities (Owing to the passing of the dividend on the
preferred shares and the'poor net results for 1907-08)
were very much depreciated in the market. The net
discount on securities sold still to ,be charged off on
June 30 1909 amounted to $7,797,910, notwithstanding
the $3,721,714 charged off against profit and loss or
to income (luring the year. As on June 30 1908 t he
amount of this net discount remaining
. to be. etin
gitished was only $1,991,375, it is evident that th9
addition during the twelve months was over
million dollars.
965
The financial problem which confronted the management during the year is outlined in the report. It
consisted of the absorption of the several issues of
short-term notes which were made to provide for the
extraordinary capital obligations assumed during the
period of great prosperity. The $16,000,000 of collateral trust 5% bonds issued in 1904 matured and
they were redeemed out of the proceeds of the sale
of development and general mortgage bonds which
had been reserved for that purpose under the general
plan of the mortgage. Later in the year it became
possible, it is pointed out, to sell more of the same
issue of bonds on fair terms,and advantage was taken
to provide for the retirement also of the $15,000,000
3zyear convertible 6% notes which were not due until
1911. The notes were, however, called for payment,
a part of them being paid off on May 1 1909 and the
remainder is to be paid off on Nov. 1.1909. In this
way $31,000,000 of temporary obligations were permanently funded, and while the effect was to increase
the total of the funded debt, the company's fixed
charges, it is stated, will be decreased $96,680 by the
year's operations.
It is proper to state, too, that there was a net reduction during the year of $3,090,103 in the equipment
obligations. This latter serves to that extent to offset
the $5,301,400 increase in funded debt and will also
have the effect of further decreasing the fixed charges.
The company's finances at the end of the fiscal year
were in easy condition. Aside from the $11,105,000
of cash held in a special fund to redeem the balance
of the convertible 6% notes due May 11911, but called
for payment Nov. 1 1909, the company on June 30
1909 held in its current assets $11,124,665 of cash,
besides $1,117,014 of cash in transit from agencies.
The current assets of all kinds, including cash, on
June 30 1909 were $18,350,236, while the aggregate
of current liabilities was only $11,500,679.
RAILROAD GROSS EARNINGS FOR SEPTEMBER.
Railroad gross earnings continue to show encouraging gains over last year. The improvement now
possesses much more significance than it did in preceding months, since comparison is no longer with
such heavily diminished totals as was the case earlier
in the year.. Our compilations this time cover the
month of September, and as only fifteen days have
elapsed since the close of the period, the tables embrace
merely the roads that make it a practice to furnish
early preliminary returns of their gross revenues.
In reviewing our early statement for September last
year we pointed out. that the compilation for that
month made the best exhibit of any month of the
year up to that time, the falling off from the corresponding month Of 1907 haying been only $3,986,202,
or but 5.78%. .The figures then related to an'aggre7.
gate of 83,157 miles of road. The present year our
early compilation embraces
somewhat smaller
extent of mileage, namely 77,460 miles, and this
time records. a gain in .amount of ,$6,613,195,. or
11.917„. Thus our. railroads (speaking of them
collectively) have more than recovered their loss of
last., year. In fact the present . increasq,.;is about
double last. y.ear's.(lecrease, both in ratio and amount.
That is obviously a satisfactory state of.thin,gs, and is
the more noteworthy since it has had no parallel in
the previous months of the year, the general situation
• THE CHRONICLE
966
Lxxxix
As far as the separate roads are concerned, the
up to September having been that the gains for
the
body of them records gains, many of them for
of
below
great
1908.
losses
far
1909 were
The favorable showing derives further importance quite considerable amounts. What the increases of
from the fact that it was made in face of a heavy such roads as the Pennsylvania, the New York Central,
shrinkage in the Western grain movement. Corn the New Haven, the Chicago & North Western, the
receipts at the Western primary markets were larger Burlington & Quincy, the Atchison, the Rock Island
than a year ago, but the deliveries of wheat, of oats or the Union Pacific or Southern Pacific may have
and of barley were very_ much reduced. The cotton been we cannot say as yet, since these roads do not
:movement in the South ran somewhat heavier than in furnish early approximations of their results; but
1908, but it would seem that on the whole the im- among the roads reporting the Canadian Pacific
-z-provement in the revenues of the railroads must, be stands at the head of the list with a gain of $1,841,000.
. attributed to the revival and activity of general The Great Northern comes next with an increase of
trade. In the iron and steel industry, certainly, $685,891. Then comes the Missouri Pacific with
, there has been marvelous activity. The latter $542,000 increase, the Grand Trunk with $414,174,
;means an increase in traffic in various directions. the Southern Railway with $397,980, the Chesapeake
With iron and steel plants fully employed there is & Ohio with $389,587, the "Soo" with $321,102,
an enormous increase in the consumption of fuel, and so on down the list. All the roads we have
involving very large shipments of coal and coke over enumerated, with the exception of the Southern
the railroads. There are also greatly enlarged ship- Railway and the Grand Trunk, report better
ments of iron ore, besides which the roads have more earnings, not only than last year but also better
to carry of. the finished products of iron and steel. than in 1907. In the case of the Southern Railway
One gets an idea of how all this works to swell the the loss from 1907 is not very large. Below we have
traffic of the roads so situated as to get the benefit brought together all changes for the separate roads
of it from the statistics showing the shipments of for amounts over $30,000, whether increases or
.ore from the Lake Superior points. In September decreases. -It will be observed that there are no
-this year the shipments from the upper lake docks decreases reaching as much as the amount named.
aggregated 7,050,985 tons. In September 1908 they We may state, however, that there are decreases for
-were only 4,646,024 tons. The movement this year amounts less than this in the case of 9 roads out of the
was even ahead of that of September 1907 when the 49 contributing returns. The decreases in most of
these instances seem to be ascribable to the smaller
shipments reached 6,217,653 tons.
In estimating the part played by this one item in grain movement.
GROSS EARNINGS IN SEPTEMBER.
adding to railroad traffic, it should be remembered PRINCIPAL CHANGES IN
Increases.
Increases.
$102,891
$1,841,000 Texas & Pacific
Pacific
that before being shipped by water from the upper Canadian
98,667
685,891 Colorado & Southern_ _
Great Northern
76,069
_
_
Southwestern_
Louis
St
542,000
Pacific
71,056
lake i)orts to the lower lake ports the ore. must first Missouri
414,174 Ala New On & Tex Pao (3)
Grand Trunk (4)
70,511
Duluth South Shore & All
397.980
Railway
Southern
65,600
389,587 Mobile & Ohio
& Ohio
be transported by rail over the roads reaching the Chesapeake
65.000
321.102 International & Great Nor
Minn St Paul & S S M
after
59,954
Louisville & Nashville__. 216,412 M neapoll & ht. Paul_ _
Lake Superior ports, and that the shipments
57.321
215,625 Atlanta Birm & Atlantic_
Wabash
40,116
Buffalo Rochester & Pitts 189.322 Alabama Great Southern_
being delivered at the lower ports must again be Illinois
33,100
184,356 Central of Georgia
Central
175,100
Northern
taken up by other rail carriers and moved to the Canadian
Representing 30 roads In
144,900
Denver & Rio Grande_
$6,567,078
our compilation
109,334
New On & Texas Pao
furnace plants-in Pennsylvania, or Ohio or Illinois, Cl..Note.
-Figures in parenthesis after name of road indicate number of lines
compilation.
our
in
given
are
returns
separate
which
for
or companies
as the case may be.
With reference to the contraction in the grain
Prior to 1908 the September record of earnings
had
been
months)
one
movement the deliveries of corn at the primary
(as indeed that of most other
other
words,
In
the
t.
points for the five weeks ending October 2 this year
of continuous improvemen
y
been
in
has
continuousl
earnings
were 18,773,249 bushels against 13,486,543 bushels
upward course of
last
thirteen
the
years
of
whole
last year, but the receipts of wheat were only 45,progress during the
and
the
1908,
of
loss
exception
148,469 bushels against 52,027,419 bushels, of oats
with the solitary
been
now
more
has
than
year
20,770,530 bushels against 26,974,726 bushels; of
suffered in the latter
we
give
following
the
the
In
barley 13,896,483 against 20,714,238 bushels and of
recovered in 1909.
to
back
years
1896.
the
all
for
rye 1,432,118 against 1,353,145 bushels. Altogether
Se- tember comparisons
Increase (+).
Gross Earnings.
Mileage.
the grain deliveries in the five weeks this year reached
Or
Decrease (-).
Year
Year
InYear Yr.Pr
September.
Preceding.
only 100,020,845 bushels, against 114,556,071 bushels,
Given.
Given, ceding. cr'se.
8
%
$
a loss of over 14M million bushels. In the following
$
Year. Roads Miles. Miles. %
-495,355 1.18
41,561,327 42,056,682
1896 ____ 117 90,456 89,696 0.85
+6,387,555
14.74
43,333,198
49,720,753
1.52
94,42
we set out the comparative grain deliveries in our
1897 ____ 128 95,865
47,105,094 44,379,196 +2,725,898 6.14
1898---- 123 91,517 90,81: 0.77
53,004,336 +5,678,198 10.71 usual form.
58,682.534
1.2.
94,50
95,700
111
___
1899
92,90• 3.51 58,270.588 57,173,545 +1,097,043 1.92
1900.... 101 96,165
1901 ____ 96 101,165
1902 ____ 72 89,680
1903 ____ 73 90,183
1904 ____ 66 83,592
1905 __ 55 80,859
1906 ____ 68 92,839
1907 ____ 55 73,482
1908 ___ 53 83,157
1909 ____ 49 77.460
gig
Jan. 1 to Sept. 30.
1898..._ 111 88,223
1897 __ 124 95,250
1898 ____ 122 91,47
1899 ____ 108 95,181
1900..-- 101 96,165
1901 ____ 93 100,49
1902---- 72 89,631
1903 ____ 73 90.183
1904---- 66 83.592
1905 ____ 55 80,859
1906 ____ 68 92,839
1907 ____ 55 73,482
1908..-- 51 82,50
1909 ____ 47 77,147
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
59,962.628
56,278,213
63.748,368
59,124,478
58,045,752
73,290,417
52,172,480
68,912,167
55,524,845
+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
99,20.
88,08
88,70 •
81,623
79.023
90,527
72.66:
81,90:
76.330
1.9:
1.82
1.67
2.4
2.32
2.55
1.12
1.52
1.48
87,464
93.807
90,77.
94,026
92.90,
98,531
88,083
88.703
81,62
79,02 •
90,527
72.668
81.251
76,069
0.86 326,903,450 312,929,980 +13,973,470 4.46
1.54 356,545,809 343,560,268 +12,985,541 3.78
0.77 356,283,597 319,888,352 +36,395,245 11.37
1.23 435,131,215 399,525,997 +35,605,218 8.91
3.5 470,582,605 423,590,726 +46,991,879 11.09
1.99 525,841,522 475,815,865 +50,025.657 10.51
1.82 489,256,535 451,747,198 +37,509,337 8.33
1.67 561.854,388 500,075,914 +61,778,474 12.33
2.41 481,660,242 483,274,172 -1,623.930 0.33
2.32 484,597,911 452.258,707 +32,339,204 7.15
2.5. 657,972,747 574.286,788 +83,685,959 14.57
1.12 474,839,846 429,640,386 +45.199,460 10.52
1.5 486,667,961 575,319,572 -88,651,611 15.41
1.4 466.976.509 417,976,108 +49.000,40111.72
the mining operations of
Note.-Nelther the earnings of the Mexican roans nor
this table.
the anthracite coal roads are included in
WESTERN FLOUR AND GRAIN RECEIPTS.
Five weeks
Barley.
Oats.
Corn.
Wheat.
Flour.
Ending
(bush.)
(bush.)
(bush.)
(bush.)
(bbls.)
Oct. 2.
Chicago1909._ 1,054,698 3,055,026 12,294,150 10,010,950 2,378,400
1908_ _ 1,052,295 2,547,002 9,074,446 11,044,406 5,408,432
Milwaukee837,000 2,644,900
799.200
1,421,400
1909.- 429,375
176,000 2.584,000 3,880,600
1,983.000
1908____ 263,370
St. Louis192,200
1,458,850 2,207,500
2,946,512
1909_ _ _ 341,810
418,000
1,692,698 3,681,800
1908___.. 338,795 2,920,342
Toledo798,000
325,500
790,000
1909
572,300
250,900
446.000
1908
Detroit354,240
240,088
352,7"O
24,156
1909-.
728.200
186,200
431,911
33,500
1908_ _ _ _
Cleveland9,356
1,370,046
371,788
56,944
10,477
1909._
5,998
840,653
149,939
158,291
7,395
1908...
Peoria734,565.
142.058
1,964,754
130,000
1909_ ___ 287,250
314,000
1,132,500
1,075,500
97,834
95.500
1908_
Duluth149,610 1,065,320 4,163,359
1909____ 830,500 17,081,167
1,580.297 4,170,398
1908.... 773,750 16.591,689
Rye.
(bush.)
145,000
211,500
148,000
234,000
25,162
56,441
57,000
98,000
8,633
29,000
50,000
160,003
319,969
OCT. 10 1909.]
Five weeks
Ending
Flour.
Oct. 2.
(bbls.)
Minneapolis1909
1908
Kansas City1909
1908
THE CHRONICLE
Corn.
(bush.)
Wheat.
(bush.)
Total of all1909____ 2,978,266
1908_ 2,564,605
Jan. I to
Oct. 2Chicago1909____ 6,188,208
1008_ _ 6,904,326
Milwaukee1009.. 2,248,683
1908_ _ _ 1,929,250
St. Louis1909____ 1,925,210
1908.. _ _ _ 1,933,935
Toledo1909
1908
Detroit1909.._ - 119,103
1908-- 159,800
Cleveland1909____
47,885
1908_ _ _ _
45,446
Peoria1909_ _ _ _ 1,532,128
1908 ____ 769,886
Duluth1909._ 2,934,845
1908_ _ 2,379,111
Minneapolis1909
1908
Kansas City1909
1908
15.142,550
19,819,500
445,509
354,460
4,172,100
7,031,850
723,800
576,400
Oats.
(bush.)
Barley.
(bush.)
2,631,409 4,366,210
3,269,570 6,516,810
Rye.
(bush.)
859,320
383,240
755,500
641,000
45,148,469 18,773.249 20,770,530 13,896,483 1,432,118
52,027,419 13,486,543 26,974,726 20,714,238 1,353,145
EARNINGS OF NORTHWESTERN AND NORTH PACIFIC GROUP.
September.
Canadian Pac_
Chic Gt West_*
Dul So Sh & At
Great North'n
Iowa Central__
Minn & St L_ _
M St P &S SMa
Total
19,397,292 68,228,771 66,368,026 17,003,293 907,500
15,420,684 69,519,003 70,715,587 15,967,304 1,131,087
4,805,105
7,397,000
5,242,200
2,130,000
6,251,100 8,323,500
9,063,200 11,212,033
14,984,412 16,640,500 13,693,465
14,484,989 18,007,937 19,801,005
3,126.400
3,496,690
2,476,600
3,870,900
2,709,200
3,359,000
1,246,307
1,466,306
1,746,045
2,314,240
1,077,874
2,156,854
407,801
1,519,528
3,532,883
4,435,909
1,058,780 11,024,631
1,238,134 12,490,700
704,900
898,800
1,903,200
1,407,189
178,769
276,602
4,655
161,900
228,200
1,000
in:NA
8,633
6,275,761 1.827,058
8,023,300 1,118,100
226,000
248,000
2,637,083 5,969,426
3,426,964 5,070,018
264,219
513,346
6,052,611
4,163,254
23,203,192
29,037,825
1,200,143
1,043
50,315,330
61,959,093
4,097,025 8,769,629 12,465,404 1,679,775
3,161,180 11,999,330 12,237,380 1,215,392
23,648,900
28,482,607
7,920,160
5,966,800
4,405,500
3.691,000
Total of all1909____14,990,062 142,253,510 122,108,958 118,840,249 47,758,130 4,132,696
1908____14,121,754 164,502,856 121,897,712 136,399,494 47,139,000 4,511,427
967
1909.
1908.
1907.
1906.
1904
1905.
$
8,148,000 6,307,000 6,423,452 6,152,767 4,872,575 4,220.876
c807,086 r807,086 r741,466 r843,987
845,884
712,557
r321,405 r250,884 r302,122
285,834
275,443
239,151
6,547,668 55,861,777 5,723,664 5,322,604 4,955,650 3,897,794
r283,359 r282,802
300,586
279,208
249.237
228,761
r506,651 r446,697 r373,923
331,672
362,911
274,377
2,504,705 2,183,603 1,658,952 1,942,853 1.758,279 1,377,224
19,118,874 16,139,849 15,524,165 15,158,925 13,319,979 10,950,740
* Results are based on 111 miles less road beginning with 1905.
b Actual figures of earnings are now used for comparison.
r Figures are on new basis of accounting prescribed by the Inter-State Commerce
Commission.
a Includes the Chicago Division in 1909 and 1908; for previous years we have cornbined Minn. St. P. & S. S. M. and Wisconsin Central.
c Month of September not yet reported; taken same as last year.
EARNINGS OF MIDDLE AND MIDDLE WESTERN GROUP.
September.
1909.
1908.
1907.
1906.
1905.
1904.
Buff Roch & P r843,798 r654,476 /171.063
746,724
805,815
738,634
Chic Ind & Lou r504,059 r478,315 r539,760
546,461
561,280
514,864
Or Tr of Can.1
Or Tr West)53,949,004 3.534,830 4,049,923 3,813,151 3,602,185 3,182,972
Det Gli&MJ
Illinois Central a5,014,564 a4,830,208 a5,405,906 4,647,543 3,960,057 4,340,706
Tol Peor & W. r101,187 r104,526
116,136
109,332
119,233
121,536
Tol St L & W. r286.699 r292,271
388,457
340,122
362,398
359,775
Wabash _ _ _ _ r2,535,532 r2,319,907 2,498,899 2,421,820 2,162.814 2,609,661
13,234,843 12,214,533 13,770,144 12,625,153 11,573,782 11,868,148
Total
a Embraces some large items of income not prey ously included in monthly returns.
b Includes Canada Atlantic beginning with October 1904.
r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission.
EARNINGS OF SOUTHERN GROUP.
We have referred above to the larger cotton ship- September.
1909.
1908.
1907.
1906.
1905.
1904.
ments over Southern roads. The overland movement
Ala Gt South_ _ r326,783 r286,667 r345,552
341,250
293,256
260,989
was very small in both years and the amount for 1909 Al NO&TP
NO&NE__ r286,110 r245,676 r244,606 r228,283
203,050
201,883
Ala & \ricks_ r137,961 r120,067 r131,095 r114,925
fell below that of September 1908, the comparison \ricks
86,433
113,947
Sh & P r125,364 r112,636 r138,340 r118,601
62,878
118,176
Atl Birm & Atl r211,681 r154,360
171,154
120,909
85,513
88,902
being 13,549 bales, against 24,715 bales. The de- Central
of Ga_ _ r1,047,700 r1,014,600 r1,046,750
973,490 1,018,740
925,168
Ches & Ohio_ _ r2,698,586 r2,308,999 2,541,328 2,144,476 2,000,285 1,718,890
lineries at the Southern ports were above even those CM N 0 & T P r761,323 r651,989 r776,525 700,181 694,090 639,538
& Nashv. r4,171,060 r3,954,648 r4,189,277 3,859,039 3,547,193 3,257,232
of last year, when the movement was large for the Lou
Mobile & Ohio
r847,745 r782,145 r890,990
807,875
703,746
709,352
Southern Ry_ _ r4,804,674 r4,406,694 r4,898.264 4,571.765 4,456,360 4,289,641
season. Aggregate port receipts for September 1909 Yazoo & M V_ a781,443 a764,601 796,628 693,053 461,739 643,587
16,200,430 14,803,082 16,170,509 14,673,847 13,613,283 12,967,305
were 1,035,879 bales, against 932,873 bales for Septem- Total
ber 1908. It should be observed, however, that the a Includes some large items of income not previously included in monthly returns.
r These figures are on the new basis of accounting prescribed by the Inter-State
increase was at the South Atlantic ports-Savannah Commerce
Commission.
Brunswick, Charleston, Wilmington and Norfolk; ' MI GROSS EARNINGS AND MILEAGE IN SEPTEMBER.
while the gulf ports, namely Galveston, New Orleans
Gross Earnings.
Mileage.
Name of Road.
and Mobile, received smaller amounts of cotton than
Inc. (+) or
1909.
1908.
Dec.(-). 1909. 1908.
last year.
RECEIPTS OF COTTON AT SOUTHERN PORTS IN SEPTEMBER, AND
FROM JANUARY 1 TO SEPTEMBER 30 1909, 1908 AND 1907.
September.
Ports.
1908.
1907.
364,148
11,825
67,796
28,312
697
326,171
53,955
57,675
25
74,528
50,284
463
393.837
969
86,051
35,468
11,642
247,665
24,004
36,300
9
60,103
35,913
912
194,966 1,639,343 1,677,911 1,848,083
1,526 246,457
83,422 105,789
41,093 971,523 1,023,573 1,022,883
15,207 176,316 155,798
99,870
1,402
98,277
93,008
77,686
201,093 759,764 654,425 611,756
22,029 161,093
94,800
86,617
28.373 120,131
75,003
02,001
1,381
671
477
58,228 189,275 192,807 130,618
21,937 260,944 232,729 254,465
548
15,907
5,350
33,275
1,035,879
932,873
586,462 4,638,411 4,289,497 4,333,526
Galveston
bales_
Port Arthur, &c
New Orleans
Mobile
Pensacola, &c
Savannah
Brunswick
Charleston
Georgetown
Wilmington
Norfolk
Newport News, do _
Total
Since January 1.
1909.
1909.
1908.
1907.
To complete our analysis we furnish the following
six-year comparison of the earnings of leading roads
arranged in groups. A point of some significance in
these comparisons indicative of the extent of the
improvement made in 1909 is that in the case of three
of the four groups or geographical divisions this year's
totals are higher, not only than those for 1908 but also
than those for 1907, and hence are the very largest ever
reached.
EARNINGS OF SOUTHWESTERN GROUP.
September.
1909.
1908.
1907.
1906.
1905.
1904.
$
Col & Sou_ _ _* r1,381,256 r1,282,589 r1,269,727 1,099,327 1,044,537
752,602
Den & Rio Gr_ r2,104,900 r1,960,000 r2,059,321 r1,811,152 1,742,260 1,524,999
Int & Gt North r791,000 r726,000 r645,612
776,515
631,670
655,146
Mo Pacific _ _ _ _ 4,649,000 4,107,000 4,408,801 4,018,435 3,679,527 4,078,725
St Louis & S W 080,322 r904,253 r944,922 r864,773
712,519
705,867
Texas & Pac__ r1,295,779 r1,192,888 r1,302,075 1,194,317
892,402 1,030,171
Total
11,202,257 10,172,730 10,630,458 9,764,519 8,702,915 8,807,510
* For 1909, 1908, 1907, 1906 and 1905 includes all affiliated lines except Trinity
& Brazos Valley RR. For 1904 we have combined Colorado & Southern and Fort
Worth & Denver City.
r Figures are on the new basis of accounting prescribed by the Inter-State Commerce Commission.
$
$
Alabama Great Southern_
326,783
286,667
Ala New On & Tex PacNew On & Northeast'n
286,110
245,676
Alabama ec Vicksburg_
137,961
120,067
Vicks Shrev & Pacific_
125,364
112,636
Atlanta B'ham & Atlantic
211,681
154,360
Bellefonte Central
5,801
6,965
Buffalo Roch & Pittsb__ _
843,798
654,476
Canadian Northern
1,076,800
901,700
Canadian Pacific
8,148,000 6,307,000
Central of Georgia
1,047,700 1,014,600
Chattanooga Southern_ _ _
y5,204
y4,218
Chesapeake & Ohio
2,698,586 2,308,999
1,160,965 1,171,481
Chicago & Alton
504,059
Chic Ind & Louisville....
478,315
761,323
651,989
Dine New On & Tex Pac_
Colorado & Southern_ __ _ 1,381,256 1,282,589
90,561
Denver N W & Pacific
64,591
Denver & Rio Grande... 2,104,900 1,960,000
Detroit & Mackinac
106,916
92,697
151,748
Detroit Toledo & Ironton
158,844
Ann Arbor
164,778
176,482
Duluth So Sh & Atlantic_
321,405
250,884
:ieorgia Southern & Fla_
182,049
162,178
[4rand Trunk of Canada.
Grand Trunk Western 3,949,004 3,534,830
Del Gr Haven & Milw
Canada Atlantic
rlreat Northern
6,547,668 5,861,777
[111nois Central
5,014,564 4,830,208
[nternat'l & Gt Northern_
791,000
726,000
[owa Central
283,359
282,802
Louisville & Nashville_ 4,171,060 3,954,648
Vlacon & Birmingham__ _
12,854
13,329
Vlanistique
3,449
3,283
75,866
Aineral Range
73,253
506,651
kainneapolis & St Louis
446,697
2,504,705 2,183,603
Vlinneap St P & S S AL
Chicago Division
'1
4,649,000 4,107,000
Aissouri Pacific
Vlobile & Ohio
847,745
782,145
Ievada-California-Oregon
57,990
35,874
Rio Grande Southern_ _ _ _
23,943
52,926
it Louis Southwestern...
980,322
904,253
iouthern Railway
4,804,674 4,406,694
Naas Central
83,916
69,797
Naas & Pacific
1,295.779 1,192,888
104,526
roledo Peoria & Western
101,187
292,271
286,699
[soled° St Louts & West'n
2,535,532 2,319,907
Vabash
781,443
764,601
tazoo & Miss Valley...
-1
$
+40,116
309
309
+40,434
+17,894
+12,728
+57,321
-1,164
+189,322
+175,100
+1,841,000
+33,100
+986
+389,587
-10,515
+25,744
+109,334
+98,667
+25,970
+144,900
+14,219
-7,096
-11,704
+70,521
+19,871
196
143
171
642
27
567
3,224
9,426
1,916
99
1,903
908
615
336
1,952
214
2,532
347
438
301
593
395
. 196
143
171
571
27
568
2,874
9,230
1,916
99
1,894
998
617
336
1,951
162
2,535
348
438
301
590
395
+414,174 4,528 4,528
+685,891
+184,356
+65,000
+557
+216,412
-475
+166
+2,613
+59,954
+321,102
6,976
4,551
1,159
558
4,398
105
73
129
1,027
3,369
+542,000
+65,600
+22.116
- 28,983
+76,069
+397,980
-14,119
+102,891
-3,339
-5,572
+215,625
+16,842
6,489
1,114
184
180
1,470
7,050
268
1,885
247
451
2,514
1,371
r4
8,672
4,541
1,159
558
4,381
105
'73
128
1,028
3,331
Ficl
6,479
1,114
164
180
1,470
7,014
268
1,885
247
451
2,514
1,371
62,138,040 55,524,845 +6,613,195 77,460 76,330
Total (49 roads)
let increase(11.91%)...+6,613,195
Mexican Roads (Not in eluded in t otal)riteroceanic of Mexico
463.825
489,142
lexican International...
583,591
531,619
,fexican Railway
1/416,800 y382,000
4exican Southern
1,73,388
y72,415
iational Rys of Mexico
3,709,050 3,717,049
-25,317
734
736
+51,972
917
918
+34,800
321
321
+973
263
263
-7,999 5,262 5,160
fi These figures arc for the first three weeks only in both years.
THE CHRONICLE
968
GROSS EARNINGS FROM JANUARY 1.TO SEPTEMBER 30.
Name of Road.
Alaba na Great Southern__
Ala New On & Tex Pac
New On & Northeastern_
Ala ama & Vicksburg_ _ _
Vicks Shreve & Pacific__
Atlantii Bir & Ati
Belief nte Central
Buff Roch & Pitts
Canadian Northern
Canadian Pacific
CentralI of Georgia
Chesapeake & Ohio
Chicag o & Alton
Chic Jrid & Louisville
Cinc New On & Tex Pac__
Colora to & Southern
Denve • & Rio Grande__
Detroit; & Mackinac
Detroit; Toledo & Ironton__
Ann Arbor
Duluth i So Sh & ALI
Georgi t Southern & Fla__..
Grand Trunk of CanadaGra id Trunk Western__
Det Gr Hay & MIIW--- Can Lda Atlantic
Great Northern
Illinois Central
Intern it & Gt Northern_ _ _
Iowa Dentral
Loulsv ille & Nashville_ __ _
Macon Se Birmingham_ _ _ _
Manistique
Minera1 Range
Minne ,p & St Louis
Minne ,p St P & S S M__....)
Chi igo Division
Missou ri Pacific
Mobile & Ohio
Nevad i-Cal-Oregon
Rio G ande Southern
St Louis Southwestern_ .. _ _
Southern Railway
Texas L'entral
Texas & Pacific
Toledo Peoria & Western__
Toledo St Louts & Western
Wabas ti
Yazoo & Miss Valley
Tota1 (47 roads)
Net In rease (11.72%)
1909.
1906.
Increase. Decrease.
$
2,657,725
$
2,429,179
$
228,546
2,353,762
1,136,118
1,015,300
1,649,181
43,627
•
5,895,188
6,761,200
58,316,677
7,064,760
20,978,984
9.348,881
4,074,927
6,023,326
11,017,174
16,103,442
905,793
1,056,801
1,257,093
2,250,558
1,558,774
1,074,257
1,064,667
081,532
1,122,784
46,392
4,893,613
6,082,100
49,484,514
7,786,242
17,564,210
8,901,549
3,695,690
5,427,407
10,232,164
13,914,487
845,514
1,063,242
1,285,692
1,890,415
1,343,250
379,505
71,451
33,768
526,397
________
1,001,575
679,100
8,832,163
178,518
3,414,774
447,332
379,237
595,919
785,010
2,188,955
60,279
$
2,765
6,441
--------28,599
360,143
215,524
29,545,530 27,933,264 1,612,266
40,270,434
42,591,776
5,727,167
2,287,507
34,046,977
99,265
31,454
624,360
3,142,465
15,340,928
34,658,341
39,829,515
4,960,024
2,163,578
31,343,802
99,670
43,905
604,795
2,758,199
13,396,057
5,612,003
2,762,261
767,143
123,929
2,703,175
405
12,451
19,565
384,266
1,944,871
35,590,632 30,687,655 4,002,977
738,880
6.517,191
7,256,071
98,918
250,649
349,567
423,147 ____
372,342
782,648
7,434,343 6,651,605
38,888,361 35,280,155 3,608,206
131,269
601,701
732,970
878,507
9,228,374
10,106,881
883.647
806,154
28,714
2,556,332 2,527,618
19,006,912 18,371,745 1,535,167
166,309
6,898,790 6,732,481
466,976,509 417,976,108 49,179,360
49,000,401
Mexican Roads (Not includ ed in total).
5,155,163 5,403,525
Intero eanic of Mexico_ _ _ _
5,544,948
5,434,677
Mexica n International__
V5,468,700 p5,516,400
Mexica n Railway
56,184
v919,117
V075,301
Mexica n Southern
Nation n1 Rys of Mexico___ 34,580,800 33,062,688 1,518,112
50,805
77,493
178,950
r248,362
110,271
47,700
V These figures are down to the end of the third week only in both.years.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO'S.
-The public sales of bank stocks this week aggregate
only 51 shares, of which 25 shares were sold at the Stock
Exchange and 26 shares at auction. The transactions in
trust company stocks reach a total of 21 shares. A sale of
11 shares of United States Trust Co. stock was made at 1250,
an advance of 55 points over the price paid at the last previous public sale, which was made in April.
Low. High. Close.
Shares. BANK-New York.
197
197
'25 Commerce, Nat. Bank of__ _ 197
BANK-BROOKLYN.
102
102
26 Union Bank (trust ctfs.)____ 102
TRUST COMPANIES,--New York.
180
180
180
10 Carnegie Trust Co
111 United States Trust Co_ -.1250 1250 1250
Last previous sale.
Oct. 1909- 197
July 1009-
100
Oct. 1909- 180
Apr111909- 1195
• Sold at the Stock Exchange.
-It is reported that the plans for reopening the Columbia
Bank & Trust Co. of Oklahoma City, Okla., under the control of President W.L. Norton, have fallen through, and that
the liquidation of the institution has been decided upon.
The company's assets and liabilities remain in the possession
of the State Banking Board, which assumed charge of its
affairs on Sept. 28. A new bank, which will occupy the
quarters of the closed institution, has been chartered under
the name of the Central State Bank, with $100,000 capital,
the amount, it is announced, to be increased later to $200,000. The bank, it is said, will take over some of the securities of the late Columbia Bank & Trust Co. The special
3 of 1% levied on the State banking instiassessment of %
tutions to reimburse the guaranty fund depleted through
the closing of the Columbia will, we learn from the Dallas
"News," place at the State's disposal approximately $300,000. The amount of the fund, when the Columbia Trust &
Banking Co. passed into the hands of the Commissioner, is
reported unofficially to have been $380,000, the 1-5 of 1%
assessment regularly due on Oct. 1 increasing it to $440,000.
The deposits of the closed institution were reported on
Sept. 1 as $2,806,009. A statement with regard to the condition of the institutions in Oklahoma was issued by Gov.
Haskell on the 7th inst. as follows:
The quarterly statement of the Oklahoma State banks, taken in Septemberliust out this morning, shows total deposits of *44,777,259. This
[VoL. Lxxxix.
Is a gain over last June's statement of $2,054,331. Total cash on hand
at the September statement is $19,942,421, being equal to 44.% of the
total deposits represented by the cash on hand. This is an excellent statement and shows the remarkable gain of over $2,000,000 during the last
quarter.
-The fifteen-year sentence imposed upon Charles W.
Morse last November following his conviction on charges
of misapplying the funds of the failed National Bank of
North America of this city, and making false entries in its
books, was sustained by the United States Circuit Court of
Appeals in a decision handed down on Monday. A forty-day
stay was granted to Mr. Morse's counsel, in order that he
might be enabled to prepare an argument in an application
for a writ of certiorari to the United States Supreme Court.
Mr. Morse had been at liberty since June last under bail of
$125,000, and a renewal of the bond, which expired on the
9th inst, was effected last week, the extension being limited
to the 11th inst., or until the rendering of the decision by
the Circuit Court of Appeals. The latter, in passing on the
case, upholds ten of the fifty-three counts on which the
defendant's conviction was based. Judges Lacombe, Coxe
and Noyes, in concluding their findings, say:
In an unusually protracted trial, depending upon a wilderness of figures,
and during which a vast number of complicated transactions were investigated, it is not unnatural that mistakes should have been made. Neither
is it surprising that judges removed from the excitement of the forum,
who have time to examine the events of the trial as they appear when portrayed in cold type should have discovered some rulings which may be
open to criticism. But we are convinced that no prejudicial error was
committed.
We fully realize the consequences to the defendant that must follow an
affirmation of this judgment, and yet we cannot doubt that he was given
a fair trial, and the verdict on the fourteen counts was amply sustained by
the proof.
No unprejudiced person can read the record without being convinced that
by the defendant's procurement the bank bought its own stock and the
stock of the Ice Securities Co., and by his procurement the entries in the
bank's books and the reports to the Comptroller as to these transactions
were so arranged as to conceal the truth,and record transactions which never
took place.
With regard to the complaint as to the sentence being
excessive and unusual, the following comment is made:
It is also asserted that the sentence of the defendant Morse to fifteen years
imprisonment was excessive and unusual. In view of the fact that sentence was suspended in the case of the defendant Curtis, who was President
of the bank, there is much that may be said in support of this contention.
These considerations, however, should be addressed to the President upon
application for Executive clemency. This Court is not permitted to consider them.
Another extract from the decision is as follows:
It is argued that a jury with nothing but the memory of its members
upon which to depend cannot keep such a tremendous record of complicated facts in mind, and that its conclusion must inevitably be based upon
vague general impressions and conjecture.
These considerations would be persuasive were they germane to the
issue now before us. They should, however, be addressed to the Legislative and not to the judicial branch of the Government. . . . If the
Jury experienced the same difficulty as this Court in adapting the voluminous proof to the various charges, they must have found the task a most
arduous and perplexing one. . . . That a jury is not a proper tribunal
to pass intelligently upon such Issues is recognized in civil causes.
To meet a multiplicity of charges depending upon technical knowledge
requires the employment of experts and the outlay of large sums of money,
which, in the case of a poor man, might almost amount to a denial of justice.
These considerations, if presented to Congress, may induce some action
along the lines suggested; but as the law now stands there seems to be no
limit to the number of counts which a person accused of violating the
National Bank Act may be required to meet.
Since the handing down of the decision Mr. Morse has
again been committed to the Tombs, but efforts are being
made to have him released under bail pending the application
for the writ of certiorari. The failure of the National Bank
of North America, the affairs of which figure in the charges
against Mr. Morse, occurred in January 1908. Mr. Morse
withdrew as its Vice-President during the financial disturbances of the previous fall, at which time Alfred II. Curtis,
who had been President, became Vice-President. All the
depositors of the bank were paid in full.
A motion for the substitution of John W. McKinnon,
shareholders' agent of the bank, as plaintiff in place of
Charles A. Hanna, the former receiver, in the suit against
Mr. Morse and others, was entertained by Judge Lacombe
on the 8th inst. The latter also directed the drawing of an
order to be settled and noticed, discontinuing the proceedings against former Justice Morgan J. O'Brien and Henry
Chapin as defendants in the same action, which was instituted
to recover on notes given by Mr. Morse while Vice-President
of the bank. Mr. Morse was elected President of the Hudson
Navigation Co. a few weeks ago, and the purchase on the
8th inst. under foreclosure proceedings by John W. McKinnon of the property of the Metropolitan Steamship Co. was
OCT. 16 1909.1
THE CHRONICLE
taken as an indication of the continuance of Mr. Morse as
controlling factor in the affairs of that concern.
—Again has New York City taken one of Chicago's best
known bankers, in the election of Joseph T. Talbert as a
Vice-President of the National City Bank. President
Vanderlip of that bank was called from Chicago to New York;
Vice-President John C. McKeon of the National Park Bank
came from the same position in the Commercial National of
Chicago; a month ago Samuel McRoberts, Treasurer of Armour & Co., was elected a Vice-President of the National City
Bank of New York; and now Mr. Talbert has been chosen
by its directors to an office of similar rank. He will begin
his duties in the new position Nov. 1. Mr. Talbert, at the
age of 43, has had a peculiarly varied and successful career in
banking. Ile began at the foot of the ladder. From 1886
to 1889 inclusive he was Assistant Cashier of the San Angelo
National Bank, Texas. For the next 4Y2 years he filled the
positions, successively, of Assistant Cashier, Cashier and
Vice-President of the Farmers' & Mechanics' National Bank
of Fort Worth, Tex. Resigning the latter office in 1893, he
was appointed National Bank Examiner for the district
embracing Texas, Louisiana, Arkansas and Indian Territory;
and the following year was transferred to the Denver district, which included Colorado, Utah, Wyoming, New Mexico
and Arizona. This was a panic period in Colorado, when so
many Denver banks suspended, and Mr. Talbert became
receiver of several of these embarrassed institutions. His management oftheir affairs added greatly to his reputation in banking circles. His next field of activity was as National Bank
Examiner in Minneapolis and St. Paul; and in 1896 he was
sent by the Government to Chicago to take charge of the
failed National Bank of Illinois, succeeding John C. McKeon
as receiver. President Eckels of the Commercial National
Bank of Chicago, recognizing Mr. Talbert's ability, offered
him the cashiership of his bank in Dec. 1897; and in 1904
he was made First Vice-President. For the past two years
he has also been President of the Chicago Clearing House.
—William M. Kingsley was this week elected Vice-President of the United States Trust Co., 45-47 Wall Street,
succeeding the late John Crosby Brown. Mr. Kingsley has
heretofore been Second Vice-President. The position of
Vice-President was formerly an honorary office, but with
Mr. Kingsley's election to it he will continue to be one of
the company's active executives.
—Erskine Hewitt has been elected to the directorate of
the Metropolitan Trust Co. 49 Wall St., this city.
—The board of directors of the Nassau Bank, Nassau and
Beekman streets, this city, appointed W. B. Noble Cashier
of the institution last Wednesday. Mr. Noble was formerly
Assistant Cashier and now fills the position made vacant by
the elevation of Edward Earl to the presidency. In less
than a year the bank's deposits have increased from $6,086,122 Nov. 27 1908 to $7,612,670 Sept. 14 1909—the latest
report to the Comptroller. During the same period surplus
and profits have advanced from $392,257 to $465,793 and
aggregate resources from $7,063,963 to $8,790,300. Its
capital stock is $500,000 and dividend payments to stockholders are 8% per annum.
—An important change in the banking firm of N. W.
Harris & Co. of New York and Boston was announced this
week. The general partnership was increased from seven
to twelve members with the admission as partners of Lloyd
W. Smith, Everett B. Sweezy and Charles W. Beall of the
New York office and Albert H. Beck and John R. Macomber
of the Boston office. All of the five new members are department executives and four of them have been in the
service of the firm from ten to twenty-one years. This wellknown banking concern was founded in 1882 by N. W.
Harris, the senior partner, who is also President of the Harris
Trust & Savings Bank of Chicago. The firm has been established on conservative and substantial lines. With the
exception of the international banking houses and syndicate concerns, which market most of their securities through
other dealers and financial institutions, N. W. Harris & Co.
are said to be the largest direct distributors in this country
of municipal, railroad and corporation bonds among private
investors. The firm also does an extensive bond business
with financial institutions in the United States.
—James Whitely, a special partner in the banking house
of Prince & Whitely of this city, died on the 7th inst. in San
1
969
Francisco. Mr. Whitely was for many years a member of
the New York Stock Exchange and had served on its Governing Committee from 1894 until 1902, at which time he retired
from active business. The firm in which Mr. Whitely first
started as a partner was that of Whitely & Neilson, formed in
1870. The firm of Prince & Whitely was organized in 1878,
but the firm as at present constituted dates from 1907.
Mr. Whitely was born in Paterson sixty-four years ago. He
was a member of the Metropolitan Museum of Art, the
American Museum of Natural History, the Union League
and other prominent organizations.
—An application to organize the National Security Bank
of New York was lately approved by the Comptroller. The
application was made by Warren B. Hutchinson, Attorney,
141 Broadway; W. A. Harder, Fred L. Kane, J. H. Wright
and C. A. Bruns, President of the Stapleton National Bank
and trustee of the Staten Island Savings Bank. The capital
of the new institution is to be $500,000, and the bank will
probably be located in the down-town financial district.
—The Appellate Division of the Supreme Court in Brooklyn
rendered a decision on Wednesday affirming the conviction
of Edward E. Britton and Frederick H. Schroeder, formerly
President and Second Vice-President respectively of the
Eagle Loan & Savings Association of Brooklyn, and denying
a new trial to the defendants. The accused were indicted in
July 1908 on charges of misappropriating $47,986 of the institution's funds, but were tried on the specific charge of
taking $4,000. In March 1909 they were found guilty of
grand larceny in the first degree by a jury in the Supreme
Court, Brooklyn. Col. Britton was sentenced to not less
than fourteen months nor more than four and one-half
years, while Schroeder (who was at one time Quarantine
Commissioner) was sentenced to not less than one year nor
more than four and a half years. A stay was subsequently
granted pending the appeal.
—Eugene R. Wiltbank, former note clerk of the Second
National Bank of Atlantic City, N. J., pleaded guilty on the
11th inst. in the U. S. District Court to an indictment charging the embezzlement of $7,710 of the bank's funds. His
arrest occurred last July.
—George Wilder, a Vice-President of the Central Bank of
Rochester, N. Y., died suddenly on the 13th inst. Mr.
Wilder was born in 1864. Shortly after his graduation in
1885 from the University of Rochester he entered the employ
of the Traders' National Bank and in 1888 became Cashier
of the Central Bank, his promotion to the vice-presidency
of that institution occurring four years later.
—James P. Taylor, President of the Charter Oak National
Bank of Hartford, Conn., died on the 10th inst. at the age
of seventy years. He entered the employ of the bank while
in his teens, remaining there until 1864. He returned to the
bank in 1878, having in the meantime been connected with
banks in Chicago and New York. In 1879 he became
Cashier of the Charter Oak National Bank, and succeeded
to the presidency in 1893 upon the death of J. F. Morris.
Mr. Taylor was also a trustee of the Society for Savings
of Hartford and a director of the National Fire Insurance Co.
—Eliot Wadsworth, a member of the firm of Stone &
Webster, has been elected a director of the City Trust Co.
of Boston.
—Another Salem, Mass., bank is to be taken over by the
proposed Naumkeag Trust Company, whose intention to
absorb the Asiatic National Bank and the Naumkeag National Bank has already been made known in these columns.
The Salem National Bank is the third institution which will
lose its identity through merger with the new organization.
This will leave but two national banks in the city, namely,
the Mercantile National and the Merchants' National. The
Naumkeag Trust Co. will have a capital and surplus of $250,000 each. The Asiatic National has a capital of $200,000,
the Naumkeag National a capital of $250,000 and the Salem
National a capital of $175,000.
—Nathaniel Paine, for fifty years active in the banking
affairs of Worcester, Mass., has resigned as a Vice-President
of the Worcester Trust Company.
—The proposition to increase the capital of the German
Savings & Deposit Bank of Pittsburgh from $100,000 to
$200,000 was ratified by the shareholders on Sept. 29. The
entire issue will be divided pro rata among existing share-
970
THE CHRONICLE
holders. Payment on the new stock is provided for through
a dividend declared out of surplus, the latter, heretofore
$600,000, thereby becoming $500,000.
—The German-American Commercial & Savings Bank of
Cincinnati, Ohio, a newly formed institution, began business
on the 2d inst. at 1228 Vine Street. The capital is $25,000,
• with 75% paid in. The deposits on the first day, we are informed, were over $16,000. The bank was organized by
S. D. Peacock, who is its President. W. F. Chambers is
Vice-President and H. F. Fisher Secretary and Treasurer.
—Suit has been brought by Robert M. Farthing, receiver
of the First National Bank of Dresden, Ohio, to recover from
the directors $7,500 alleged to have been taken from the
original capital of $50,000 and used in the payment to stockholders of five semi-annual dividends of 3% each. An accounting from the defendants of the liabilities of the institution is also sought, and charges are said to be made against
them of having knowingly carried bad debts which aggregated $170,000 and which, according to the "Ohio State
Journal," formed part of the assets reported to the Comptroller of the Currency as $294,653, when the liabilities were
given as $218,709. Of these loans, $113,000, it is stated,
was made to the Kapner Bros. & Duga Hosiery Co. Jacob
Kapner and his son, Abe Kapner, were sentenced to seven
and five years, respectively, on charges growing out of the
failure of the bank in October 1907, and the Vice-President
of the bank, James S. Prettyman, was sentenced to seven
years, having been indicted on charges of misapplying its
funds. The several cases have been taken to the Circuit
Court of Appeals and the defendants are out under bail of
$12,500 each. Loans to the amount of $85,000 are said to
have been made to the Muskingum Valley Woolen Manufacturing Co., in which Vice-President Prettyman is reported
to have been interested:,
—The several subjects uppermost at the present time in
the minds of those affiliated with banking interests, namely
the postal-savings-bank plan, guaranty laws and the currency system, occupied the attention of the Illinois Bankers'
Association at its annual meeting this week at Decatur, Ill.
In his annual address, the retiring President,James McKinney
of Aledo, Ill., stated that, while he believed the recent
troubles to be attributable to general distrust rather than to
the defects in our currency system, yet positive defects were
ound to exist during the stress of that time. Mr. McKinney expressed it as his opinion that the plan adopted at
Chicago on Jan. 18 1908 by the committee representing the
American Bankers' Association embraced the best and wisest
currency plan brought forward at that time, inasmuch as it
provided a ready response to actual conditions in both the
ssue and retirement of our currency and still maintained
the absolute integrity of our bank-note issues. Referring
to the Monetary Commission and its efforts toward formulating a bill to remedy the defects of the present currency
system, Mr. McKinney said:
It may be that the central bank idea will be favored. If so, I trust
the bank that is recommended may be so constructed and so regulated as
to be entirely diswsociated from politics and politicians and be strong enough
fully to meet the needs of this great country at all times. The Commission
surely will realize that it will not be wise to recommend a central bank plan
simply because one is found to be in successful operation in some European country. It does not necessarily follow that such a plan would prove
adequate and satisfactory here under widely different conditions. The
Bank of England is called the financial Gibraltar of Great Britain, yet we
find no counterpart of it in the broad-spreading Dominion of Canada,
where the people are well served by independent banks.
The postal savings bank proposition, Mr. McKinney
thought, ought to be, so the Chicago "Tribune" reports, out
of the question. In his opinion, the plan, if adopted, would
only be another step toward a greater centralization of
power. Logan C. Murray, President of the American National Bank of Louisville, also spoke in opposition of the
plan, declaring it to be an insult to the intelligence of the
people. Oscar G. Foreman, who as Vice-President of the
Association was in line for the presidency, was unanimously
chosen to that office. Richard L. Crampton was the successful candidate for the secretaryship. There were ten
candidates and the contest was complicated. Mr. Crampton
s well qualified for the position, having nearly twenty years
of banking experience in various capacities. For ten years
he was with .the Northern Trust Co., Chicago, mainly in the
trust and publicity departments. In 1902 he became
Assistant Cashier of the National Bank of the Republic,
[VOL. Lxxxix.
Chicago, resigning his position there in 1907, since which
time he has been giving his attention to private affairs.
Mr. Crampton has served on several important committees
of the American Bankers' Association, and was one of the
principal members in devising the plan of A. B. A. "travelers' cheques" now becoming so popular.
—A. Waller Morton, for many years connected with the
Eutaw Savings Bank of Baltimore, and since with the
Bankers' Trust Co. of New York, has been appointed
Assistant Cashier of the National City Bank of Chicago.
—James H. Gilbert, President of the Metropolitan Trust
& Savings Bank, Chicago, died suddenly of heart disease on
Friday, the 8th inst. He left his bank for home at 4 o'clock
the same afternoon, apparently in good health, and was fatally stricken before medical aid could arrive. Mr. Gilbert
was born in Toronto, Canada, in 1844; was educated in the
public schools and the university of that city; went to Chicago in 1867; was acting Mayor of that city in 1878; became
President of the Garden City Banking & Trust Co. in 1894,
the name of which financial institution was some years later
changed to the Metropolitan Trust & Savings Bank. Mr.
Gilbert was a member of many Chicago clubs, and prominent
both as a business man and socially.
—Ralph Van Vechten, heretofore Second Vice-President
of the Commercial National Bank of Chicago, has been
chosen to succeed Joseph T. Talbert as First Vice-President.
Mr. Talbert's election as a Vice-President of the National
City Bank of New York is noted elsewhere in this department. W. T. Bruckner, Assistant to the Vice-Presidents
of the Commercial National, has been made one of the VicePresidents of that bank.
—The First National Bank of Mineral Point, Wis., closed
its doors on the 12th inst. as the result, it is stated, of the
discovery of alleged forgeries and defalcations. The reputed
irregularities are said to have been brought to light early in
the month by National Bank Examiner Richard W. Goodhart. President Calvert Spensley is quoted as stating that,
according to the examiner, the Vice-President of the institution,Philip Allen Jr. has admitted to having forged the names
of business men to a number of notes. The shortage was
estimated on the 11th inst. at about $200,000, and Mr. Allen
is reported to have turned over securities the value of which,
according to the latest advices, had not been ascertained.
Later in the week it was stated that the shortage would run
close to $400,000. With the first evidence of the irregularities, President Spensley expressed confidence in his ability
to carry the bank through the crisis. A meeting of the stockholders and directors held on the 11th inst. to take steps
to prevent its suspension, evidently, however, proved unsuccessful, the institution closing on the following day. On
Sept. 1 the bank reported a capital of $100,000, surplus of
$20,000, undivided profits of $11,724 and deposits of $505,978.
—We have been favored with a copy of the report containing in detail the proceedings of the Thirteenth Annual Convention of the Nebraska Bankers' Association, held at
Omaha on Sept. 8 and 9. The proceedings of the annual
sessions held during the year by the six groups in the organization are also incorporated in the volume. The
present officers of the Association are: President, J. W.
Welpton, President of the Exchange Bank of Ogallala;
Treasurer, F. T. Hamilton, Vice-President of the Merchants'
National Bank of Omaha,and Secretary, William B. Hughes,
of Omaha.
—The City Bank & Trust Company of Denver, Colo.,
has been incorporated with $100,000 capital. The institution will locate at 1638 Welton Street, and will engage In a
banking and trust business, devoting particul:r attention to
the trust feature. Howard F. Crocker, one of the incorporators, and at present teller in the First Nati nal Bank of
Denver, is looked upon as the probable head of , he new concern. The Secretary will be Orin McNutt, Sect, tary of the
Columbia Savings & Loan Association.
—The depositors of the Capitol National Bank of Guthrie,
Okla., which failed in April 1904, are said to hay.' thus far
received a total of 65% of their claims as the re.,ult of a
recent dividend.
—The disfavor with which the postal-saving-bank proposition is regarded by members of the Kentucky Bankers'
OCT. 16 1909.;
THE CHRONICLE
Association was evidenced anew at its annual convention
held at Louisville on the 7th and 8th inst. The executive
committee of the Association expressed its disapproval of
the plan at its meeting in January last. At the late session
T. W. Thomas of Bowling Green and the Committee on
Banking, Jurisprudence and Information both expressed
opposition to the movement, and further adverse criticism
to it was accorded by J. N. Kehoe of Maysville, Ky., who
made it the subject of an address at the Convention. In his
discourse Mr. Kehoe averred that it appeared to him to be a
dangerous and unauthorized piece of paternalism. He also
stated that "unless our education has been along erroneous
lines and the plan and theory of government is wrong,
paternalism is the child of socialismland the grandchild of
anarchy, and consequently a very dangerous thing to conjure
with. If the Government embarks in the banking business,
it may later, with equal propriety, engage in the shoe business, the clothing business, farming,or any other character of
business." An amendment to the constitution of the association, involving a change in the method of appointing the
Committee on Nominations, was adopted at the session just
closed. A. B. Davis, who several months ago was chosen
to succeed Isham Bridges, who resigned as:Secretary of the
organization, has been re-elected to the':office. The new
President ;s J. C. -Utterbach, Cashier of the City National
Bank of Paducah, Ky. The Treasurer (re-elected) is Henry
D. Ormsby, Cashier of the National Bank of Kentucky, at
—It is reported that a compromise has been effected in
injunction proceedings lately brought by certain stockholders
of the Central Savings Bank & Trust Co. of Covington, Ky.,
as the result of plans to increase the capital from $60,000 to
$100,000. The action was instituted by two of the stockholders, who claimed that the directors had agreed to allot
the new issue among themselves and others, and had refused to the plaintiffs and others of the shareholders their
pro rata share. The directors were enjoined from issuing
the new stock upon any other basis than to pro rate it among
all the stockholders desiring to avail of their share, and the
hearing was set for Sept. 25. The case did not come up,
one of the attorneys for the plaintiffs announcing
that the increase would be made, but that the resolution
apportioning the stock would be rescinded and the court
proceeding discontinued.
—The Guaranty State Bank & Trust Co. of Dallas began
business on the 4th inst. with a capital of $400,000. It is
understood that the institution is a reorganization of the
Bankers' Trust Co. and that its business will be developed
along a commercial banking line. An evidence of this is
furnished in the fact that its deposits are announced as having exceeded $800,000 on the first day of its start under its
new regime, while the Bankers' Trust had deposits (June 23
1909) of but little more than $50,000. The Guaranty State
Bank & Trust Co. is under the management of D. E. Waggoner, President; J. S. Rice and M. H. Wolfe, Vice-Presidents, and Edwin Hobby, Cashier.
—San Francisco is to have a night and day banking institution, the All Night & Day Bank being now in process of
organization. The bank is to have an authorized capital
of $100,000. The incorporators are Newton J. Skinner,
J. S. Moore, W. J. Conner, W. R. Letton, B. II. Smith,
C. E. Shank and W. Ona Morton. Mr. Skinner is President
of the All Night & Day Bank of Los Angeles.
—The National Bank of the Pacific at San Francisco, Cal.,
was placed in voluntary liquidation on Oct. 1, its business
having been consolidated with that of the Western National
Bank, the merger becoming effective on the date mentioned.
The Pacific National, capital $300,000, was organized in
1905. M. J. Hynes, its Cashier, will be identified with the
Western National as Vice-President.
—The American National Bank of Los Angeles, Cal.,
which consolidated with the Citizens' National Bank, was
placed in voluntary liquidation on Sept. 1. The merger proceedings were ratified by the stockholders of the two institutions in June. The Citizens' National increased its capital
from $300,000 to $1,000,000. R. J. Waters continues as
President of the institution; J. Ross Clark likewise continues
as a Vice-President. A. J. Waters, who was Cashier of the
Citizens', has also become a Vice-President of the enlarged
bank, and W. W. Woods, who was identified with the Ameri-
971
can National, becomes Cashier of the reorganized Citizens',
National.
—The German-American Savings Bank of Los Angeles •
will increase its capital from $600,000 to $1,000,000, the
stockholders on September 22 having authorized the issuance of $400,000 of new stock.
—The Citizens' Savings:Bank of Long Beach, Cal., which
suspended early in 1908, has been reorganized, and it is
stated, will probably resume business next month. The
reorganization plan, it is understood, provides for an assessment of 25% on the capital of $250,000, to be paid in three
installments, two of 10% and one of 5%. It is also stated
that 80% of the depositors have agreed to a deferred-paytnent plan under which the final settlement of their claims
will be made in two years.
—Authority to organize the National Copper Bank of Salt
Lake City was granted by the Federal authorities on Sept. 28.
Rumors of the proposed movement were in circulation several weeks ago, when it was stated that the stockholders
would comprise many of the leading mining men of Salt Lake
City and the adjacent mountain country. The capital has
been fixed at $500,000 and there is to be a surplus of $50,000..
• —The establishment of a new national bank for Spokane,
Wash., has been undertaken by C. H. March and F. M.
March of Litchfield, Minn.; Dana Child and Edward J. Cannon of Spokane, and M. M. Cook of Hillyard, Wash. The
title of the proposed institution is to be the National Bank
of Commerce, and it is to have $200,000 capital and $25,000
surplus. It is stated that F. M. March will be President
and Mr. Child Vice-President.
—The stockholders of the Washington Trust Company
of Spokane have approved a proposition to increase the
capital from $100,000 to $200,000. A 25% dividend,to be
paid out of surplus, will provide for the partial payment of
the new stock. The issue will be disposed of at $110 per
share (par $100) and will become full paid on January 1 1910.
—The payment of a 20% dividend to the creditors of the
Bank of Spokane Falls, Spokane, Wash., which failed in
1893, was recently reported. The distribution is said to be
the first and last return made to the creditors.
—Wade Gard'ner, New York agent for the Hong Kong &
Shanghai Corporation at 36 Wall Street, is in receipt of
the latest figures for the half-yearly statement of the corporation's business, ending June 30 1909. The net profits
for that period were $3,487,212. After including $2,006,234
brought forward from the Dec. 31 1908 account, this made
$5,493,446. The directors at their last meeting recommended the transferral of $750,000 to the credit of the silver
reserve fund, increasing it from $14,500,000 to $15,250,000.
After making this transfer, allowing $15,000 as remuneration to directors and the payment of a £2 sterling dividend
to shareholders, or $2,726,627, the balance carried forward
to a new profit and loss account was $2,001,819. This great
English corporation now has twenty-eight branches and
agencies in China, Japan, India, Java, Straits Settlements,
Philippines, &c., and correspondents and business agencies
in all the principal cities of the world. Some conception of
the magnitude of its international business can be had when
it is stated that with a paid-in capital of $15,000,000,a sterling
reserve fund of $15,000,000 and a silver reserve fund of
$15,250,000, the corporation's fixed deposits were $114,998,969 83, its curgent accounts $152,145,518 and its total
resources $345,601,236 on June 30 1909.
inonetargiCommercialjEnglish4ews
[From our own correspondent.]
London, Saturday, October 2 1909.
The London stock markets at the present moment present
a curious problem to the careful observer. There is no
question that the City generally strongly objects to the
Budget, and, indeed, is altogether hostile to the present
Government. And what is true of the City proper is true
of the majority of investors. As a consequence, purely
British securities are avoided and the quotations for them
have been steadily falling till the middle of this week.
Consols at their present price yield to the investor fully
3 per cent and many argue that they may go lower, though
they have recovered slightly during the past two days.
972
British railway stocks also have been almost continually
falling. It is true that the traffic returns are unsatisfactory,
but everybody knows that the traffic returns are largely
estimates, and therefore cannot be depended upon. On
the other hand, it is certain that trade is improving, that
consequently the traffics must grow materially in the early
future and that the cost of working the railways is being
reduced in every direction. Thus, there is a reasonable
certainty that the dividends will increase in the early future.
Yet right up to Thursday, when there was shown a recovery, the quotations for some of the best railway stocks
were many points lower than they were a couple of months
ago. On the other hand, there has been a couple of months
now of rather wild speculation in rubber and there has been
a very large business in the American department. There
are numerous investors here who consider that the rise in
American securities has been too rapid, and, therefore, are
frightened away from the market. But in spite of that,
during the past month or so the strength of the New York
market and especially the manner in which it bore the
death of Mr. Harriman, have made a great impression, and
there has been a larger business in Americans than for a
considerable time before.
By contrast, mining shares, strange to say (although
everything is favorable so far as the mining industry is
concerned), are not in as much favor as they were earlier
in the year, probably because operators have not yet recovered from the sharp fall which, quite unexpectedly, took
place some months ago. However that may be, there has
during the past two or three weeks been a rapidly growing
opinion that we are about to see a very marked rise in gold
shares of all kinds, not only in Rand shares but in Rhodesian
shares and West Africans.
The curious problem to which we have referred is that we
have had thus in one great department of the Stock Exchange, comprising purely British securities, depression
and falling quotations up to the last few days, while in
several others, notably the American, the rubber, the
diamond and gold mining market, and the foreign department, there is an expanding business and a far more optimistic
feeling than existed a little while ago. In short, there is
every evidenee outside of the purely British department of
a rapid revival of the speculative feeling. It may, of course,
be checked by something entirely untoward, but at the
present moment it looks as if we were about to see a broadening of all the markets. In Paris there is likewise a hopeful
feeling. The holiday season is now at an end, the wealthy
classes are returning, and the feeling is strong that we are
about to see in Paris likewise a great increase in the activity
of markets, for the impression is almost universal that
European peace will certainly be maintained for a couple
of years at the least. More remarkable still there has come
a marked revival in Berlin. Berlin until a few weeks ago
was very depressed. It has been encouraged by the continued strength of New York, by the rise in iron and steel,
and by the belief that the German harvest will be better
than previously had been supposed, and consequently
business has suddenly become quite active-so much so
that already cautious people are uttering warnings that the
revival is too rapid and too sudden to last.
There is a good deal of discussion going on just now in
the City as to the immediate course of the money market.
Money here is exceedingly abundant and rates are low.
Yet the gold withdrawals are upon a large scale. This week
£655,000 has been Withdrawn for Brazil and next week
further large amounts are expected to be taken. There is
a strong demand for gold for Egypt likewise.: Some good
authorities estimate that between now and the end of the
year Egypt will require between four and five millions
sterling. Many think the estimate exaggerated. But
there is no doubt that there will be a large amount withdrawn
for Egypt. There are small demands for Constantinople
and other places. In spite of all, however, the supply of
money in the open market is so great that it is found impossible to put up rates and next week the payment of the
interest on the National debt will increase the supply and
probably send down rates further. Therefore, the belief is
growing that the Bank of England will have to interfere; in
other words, that it will have to put up its own rate of
discount and to make the rate effective by borrowing in the
open market. Whether it will do so remains to be seen.
Lxxxxx.
THE CHRONICLE
But the more cautious bankers and financiers in the City
hold that the outside market will not take the measures
necessary to raise rates and that consequently if the Bank
of England does not act promptly the gold withdrawals
may become formidable.
The India Council offered for tender on Wednesday 20 lacs
of its bills and the applications amounted to 233 lacs at
prices ranging from is. 3 31-32d. to is. 4 1-32d. per rupee.
Applicants for bills at is. 4d. and for telegraphic transfers
at is. 4 1-32d. per rupee were allotted about 25 per cent of
the amounts applied for.
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c., compared with the last four years:
1909.
Sept. 29.
.£
29,708,985
8,834,801
42,721,015
15,231,754
28,640,485
25,976,073
37,235,058
1908.
Sept. 30.
£
29,550,010
8,091,262
42,517,288
15,732,293
26,237,614
26,917,535
38,017,545
1907.
Oct. 2.
£
29,920,490
8,621,052
43,783,812
14,335,700
30,820,967
25,636,348
37,106,838
1906.
Oct. 3.
E
29,672,960
9,730,482
43,191,786
15,956,166
34,974,642
20,401,793
31,624,753
Circulation
Public deposits_ _ _ _
Other deposits
Governm't securities
Other securities
Reserve,notes&coin
Coln&bUll.,both dep
Prop. reserve to lia38%
48%
53%
50%
p. c.
bilities
4
4%
2%
2%
p.c.
Bank rate
86%
82%
85%
83 1-16
Consols, 2% p. c___
31%d.
. 23%d. 30.1316d.
23 11-16d.
Sliver
Clean-house returns 267,182,000 248,799,000 279,960,000 294,814,000
1905.
Oct. 4.
29,773,072
12,015,048
42,258,149
18,633,325
32,373,591
20,977,869
32,300,944
38%
4
88 13-16
28%cl.
320,138,000
The rates for money have been as follows:
Oct. 1.
• 2%
Bank of England rate
Open Market rate1 13-1601%
Bank bills-60 days
2%
-3 months_ .. _ _
-4 months2%02 5-16
2%
-6 months_ _
Trade bills-3 months_ .._ _ 2%02%
2%
-4 months_ _ _
Interest allowed for deposits1
By Joint-stock banks
By discount houses:
1
At call
7 to 14 days
1%
Sept. 23.
2%
Sept. 17.
2%
Sept. 10.
1%01 7-16 1%01 7-16 I%@1 5-16
1 11-1601% 1%01 9-16
1 15-16
2%
2 1-1602%
2%02 3-16
2%02 5-16 2%02%
202%
2%
2%
2%
25
%
1
1
1%
1%
The bank rates of discount and open market rates
chief Continental cities have been as follows:
Rates of
Interest'atParis
Berlin
Hamburg
Frankfort
Amsterdam
Brussels
Vienna
St. Petersburg
Madrid
Copenhagen
1
1
1
1
1%,
at the
Sept. 11.
'Sept. 25.
Sept. 18.
Oct. 2.
Bank Open
Bank Open
Bank Open
Bank Open
Rate. Market. Rate. Market. Rate. Market. Rate. Market.
1%
3
1%
3
2
2%
3
3
2%
3%
3%
3%
4
3%
3%
4
2%
3%
3%
4
4
3%
3%
3%
2%
3%
4
3%
4
3%
3 7-16
3%
1%
2%
2% 1 11-16
4% 1 9-16
2% 1 9-16
1%
3
2
3
2%
3
2
3
3%
4
:3%
4
3 1-16
4
3%
4
nom.
5
nom.
5
nom.
5
nom.
5
3
4%
3
3%
4%
3%
4%
4%
3%
4%
4
3%
4%
4%
4
4%
Messrs. Pixley & Abell write as follows under date of
Sept. 30:
was again a keen buyer of bar gold, and of the arrivals of £1,050,GOLD.-Rus ia,
000, £900,000 was taken for that quarter, the balance being divided between Paris
and the usual Indian and trade buyers. The Russian demand is still unsatisfied.
and in spite of the advance in price to an unremunerative rate, it appears probable
that they will take next week's arrivals, amounting to £470,000 from South Africa
and £109,000 from India. Since the 10th of September Egypt has taken £1,809,000,
Turkey £200,000 and Brazil and Argentina £1,136,000. The following sovereigns
have been withdrawn from the Bank since our last: Egypt,£780,000; South America,
£705,000; Turkey, £100,000; Roumania, £20,000; South Africa, 210,000; total,
£1,615,000. Arrivals-South Africa, £960,000; Australia, £122,000; total, £1,082,000. Shipments-Bombay, £60,500; Madras, £5,000; total, £65,500.
SILVER.-Fluctuations are still very small and the price to-day, at 23%d.,show
a rise of 1-16d. on the week, after having been 23%d. for three days. The same conditions govern the market that have been ruling for the past month; China is a willing buyer on any fall, while Indian speculators also are Influenced by Eastern trade
conditions and show readiness to cover their short position on any reaction. India
has also been a seller, but reversed their position on finding that China was a buyer
much of the China buying having been made on the Indian market. The stock in
Bombay shows a further reduction of 500 bars at 14,250 bars, and purchases for
that quarter are expected for next week's mai; for in spite of exchange having been
up to yo., the value of money has not been affected yet to an extent to Influence
silver. The Continent has again been a buyer, and there is no doubt that these
purchases have contributed largely to the general steadiness. The market is steady
at the close, with a good tendency. The price in India is Rs. 60% per 100 tolahs.
Arrivals-New York, £145,000: Mexico, £2,000; total, £147,000. ShipmentsBombay, £23,270; Calcutta, £7,500; Madras, £2,500; total, £33,270.
The quotations for bullion are reported as follows:
GOLD.
London Standard.
Bar gold, fine, oz
U. S. gold coin, oz
German gold coin, oz
French gold coin, oz
Japanese yen
Sept. 30.
SILVER.
Sept. 30. Sept. 23.
d.
London Standard.
s. d.
s. d.
77 11% 77 10% Bar silver, fine, oz.__ -23%
76 6% 76 5% " 2 mo delivery, oz_23%
25%
76 6% 76 5% Cake silver, oz
nom.
76 6% 76 5% Mexican dollars
76 6% 76 5%
Sept. 23.
d.
2311-16
23 11-17
25 9-16
nom.
The following shows the imports of cereal produce into
the United Kingdom during the season to date, compared
with previous seasons:
Pour weeks.
Imports of wheat
Barley
ts
peaas
O
Beans
Indian corn
Flour
'1908-09.
.TS
POR
09-IO
1I9M
7,430,700
owt_10,481,500
2,449,500
3,315,900
1,643,800
948,600
40
26
30:0
1690
2
71,010
168,760
3,184,100
3,288,800
835,400
868,100
1907-08.
1906-07.
8,527,400 10,407,700
3,223,200
2,534,200
1,241,800
313,000
249,060
107,040
181,260
46,670
6,661,100
4,485,800
1,496,000
1,130,200
Supplies available for consumption (exclusive of stock on
September 1):
Wheat imported
Imports of flour
Sales of home-grown
Total
Average price wheat, week
Average price, season
1909-10.
cwt_10,481,500
835,400
1,603,827
1008-09.
7,430,700
868,100
2,542,107
1907-08.
8,527,400
1,130,200
4,057,549
1906-07.
10,407,700
1,406,000
3,451,414
12,920,727 10,840,007 13,715,149 15,365,114
275. 9d,
31s. 8d.
31s. 5d.
32s. 9d.
26s. 3d.
31s. 7d.
31s. 4d.
34s. 7d.
The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
Wheat
Flour, equal to
Maize
This week. Last week.
1,470,000
qrs. 1,155,000
200,000
175,000
qrs_
840,000
qrs_ 935,000
1908.
1,510,000
170,000
720,000
1907.
1,900,000
210,000
835,000
OCT. 16 1909.1
THE CHRONICLE
93
English Financial Markets-Per Cable.
and legal tenders on deposit. The statement for September
The daily closing quotations for securities, &c., at London, 1908 will be found in our issue for Oct. 17 1908, page 989.
as reported by cable, have been as follows the past week:
Bonds and Legal-Tenders
London,
on Deposit for
Circulation Afloat UnderFri.
Wed. Thurs.
Week Ending Oct. 15.
Tues.
Mon.
Sat.
Bank Circulation.
7-16
Silver, per oz
d 23 11-16 23 11-16 23 11-16 23 9-16 23 9-16 23
1908-09.
82 11-16 8234
82%
Consols, new,234 percents.... 83
82 13-16 8234
LegalLegalFor account
82 9-16 82 11-16 8234 82 13-16
83 1-16 8234
Tenders.
Bonds.
Bonds.
Tenders.
Total.
97.4234 97.4734 97.5734
French Rentes (in Paris)_fr. 97.45
97.45
97.45
8334
843481
81%
Amalgamated Copper Co.... _ 8334
s%
934
934
b Anaconda Copper Co
-5ii
934
9%
Sept. 30_ _ _ _ 676,386,040 26.776,066 676,031,393 26,776,066 702,807,459
12434
12534
Atchison Topeka & Santa Fe 125
1233
124%
12334
Aug. 31_.... 672,925,700 26,581,779 672,263,696 26.581,778 698,845,474
10734
10734
10734
10734
Preferred
10734
107
July 31...... 667,652,650 27,845,433 667,508,731 27,845,433 695,354,164
11934
Baltimore & Ohio
11934
120
11934
11934
12034
June 30_
660,689,070 30,246,666 659,673,408 30,246,666 689,920,074
9734
97
97%
_
Preferred
9734
9734
May 31_
657,972,970 31,914,847 656,268,268 31,914,847 688,183,115
/,
1913
190%
190
.19234
Canadian Pacific
19034
189
April 30.. 653,901,910 34,243,657 653,164,570 34,243,657 687,408,227
9034
91%
8934
9134
Chesapeake & Ohlo
91
8934
Mch.
31_
651,267,130 38,265,225 646.142.390 38,265,225 684,407,615
164
161%
162%
161%
163
Chicago Milw. & St. Paul_ _ _163
Feb. 28....- 640,769,140 42,696,715 635,588,885 42,696,715 678,285,600
46
4634
45%
47
47
Denver & Rio Grande
4534
Jan.
635,214,560 46,363,455 630,300.637 46,363,455 676,673,092
87
87
87
87
8734
Preferred
8734
.
Dec.
31._ _. 631,318,790 48,281,960 628,786,205 48,281,960 677,068,165
3434
34%
3434
3534
Erie
3534
3434
Nov. 30_
618,497,940 52,270,912 614,907,265 52,270,912 667,178,177
50
50
5034
51
50
5034
First preferred
Oct. 31__ 632,624,850 39,060,437 626,779,350 39,065,637 665,844,987
42
4134
42
41
4134
4134
Second preferred
154
155
154
155
15434
15434
Illinois Central
154
157
154
156
15534
156
Louisville & Nashville
The following shows the amount of each class of bonds
4434
47%
4634
4534
Missouri Kansas & Texas__ 4334
4534
7034
79
78
76
77
Preferred
held against national bank circulation and to secure public
---5954
5958.
60
Nat. RR. of Mex., 1st pref._ 5954
moneys in national bank depositories on Sept. 30.
24
24%
2434
__
24%
2434
Second preferred
140
14234
N. Y. Central & Hud. Riv_ _143
140
13934
13934
4734
4934
N. Y. Ontario & Western_ ... 49
4834
4954
48
U. S. Bonds Held Sept. 30 to SecureNorfolk & Western
9914
9956
98
98
99
Bonds on Deposit
9734
93
93
Preferred
9234
9234
93--Sept. 30 1909.
Bank
Public DeposTotal
156%
156
Northern Pacific
15554
_
158
15834
Circulation.
its in Banks.
Held.
76
a Pennsylvania
7534
75%
7434
75%
7434
85
8334
a Reading
8434
8434
8234
83%
4734___
_
4734
4734
4734
a First preferred
2 per cents, Panama Canal, 1916-36 $49,761,940
4734
$3,195,000
$52,956,940
51%
51%
51
5134
a Second preferred
5134
4 per cents, Loan 01 1925
14,738,550
3,570,700
18,309,250
39
3734
38
Rock Island
3 per cents, Loan of 1908-1918
3634
3734
14,145,320
3,770,400
17,915,720
134%
133
134
Southern Pacific
131%
2 per cents. Consols, 1930
572,068,750
13334
25,062,700
597,131,450
30%
30
3034
Southern Railway
2 per cents, Panama Canal, 1918-38_
25,671,480
3034
2934
2934
1,144,000
26,815,480
71
71
Preferred
70
70
70
70
3.65s, District of Columbia, 1924_
820,000
820,000
212%
210
20734
20934
207%
Union Pacific
209%
State, City and Railroad Bonds
12,065,000
12,065,000
108
Preferred
10834
107%
107
106%
10834
Hawaiian Island Bonds
487,000
487,000
9534
U.S. Steel Corporation
9034
88
8834
91
Philippine Loans
8934
4,276,000
4,276,000
Preferred
131%
13234
131
13034
130%
131
Philippine Railway
151,000
151,
Wabash
1934
19
10
19
19
1934
Porto Rico
374,
374,000
Preferred
5034
50
4834
49%
47%
4_8_14_
75
Extended 4s
75
75%
7434
7434
Total
$676,386,040
354,915,800 $731,301,890
a Price per share. b £ sterling.
Toinm
taLit act irt: c
;I:net:1'115'74.CM
FAILURES FOR THE THIRD QUARTER AND SINCE
JAN. 1.-The following figures, prepared from Messrs. R. G.
Dun & Co.'s statement, show the number of failures in the
United States and Canada during the quarter ending Sept. 30
1909, and for the nine months ending with the same date.
For purposes of comparison, like figures for the corresponding periods of the preceding year are given:
1909.
No. of
Failures.
Third QuarterNew. England States
Middle States
Southern States
Southwestern States
Central Western States
Far Western States
Pacific States
Amount of
Liabilities.
$3,232,510
9,602,859
4,716,276
2,082,002
4,736,585
1,581,118
1,643,148
259
635
525
208
685
239
284
1908.
No. of
Failures.
289
824
633
300
544,
309.
338
Amount of
$2,278,090
17,230,600
6,461,677
2,774,542
14,080,189
10,643,972
1,833,620
The following shows the amount of national bank notes
afloat and the amount of legal-tender deposits Sept. 1 and
Oct. 1 and their increase or decrease during the month of
September.
National Bank Notes-Total Afloat.
Amount afloat September 1 1909
Net amount issued during September
5698,845,474
3,961,985
Amount of bank notes afloat October 1 1909
$702,807,459
Legal-Tender Notes.
Amount on deposit to redeem national bank notes September 1 1909..
$26,581,778
Net amount of bank notes issued in September
194,2813..
Amount on deposit to redeem national bank notes October 1 1909- _ $26,776,066
GOVERNMENT REVENUE AND EXPENDITURES.
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for the month of
September in 1909 and 1908 and for the three months of the
fiscal year.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
1909.
(000s omitted.)
1908.
1
I
July. Aug. Sept. 3 Mos. July. Avg. Sept. 3 Mos.
Aggregate United States
Dominion of Canada
Banking failures in United States
(not included in above)
2,835
$27,594,498
3,237
355,302,690
ReceiptsCutro:ns
Internal revenue
Miscellaneous
$
$
8
1
8
$
$
$
29,963 28,590 27,335 85,888 19,475 22.26825,262 67,003
22,562 19,719 21.877 69,158 20,982 19,520,19,873 60,375
5,052 2,773 3,136 10,961 8,733 2,8941 3,090 14,717
Total receipts
57,577 51,082 52,348 161,007 49,190 44,680 48,225 142,095
307
$2,190,515
340
$3,492,661
12
$4,457,550
27
$36,228,416
Nine MonthsNew England States
Middle States
Southern States
Southwestern States......
Central Western States
Far Western States
Pacific States
836
2,155
2,042
844
1,976
886
927
$9,735,675
44,860,791
22,305,497
6,739,140
19,096,630
6,906,947
6,401,191
1,182
2,979
•2,274
1,182
2,007
1,081
1,241
$11,157,534
67,248,556
28,059,938
8,888,666
36,998,355
16,544,459
10,780,015
Aggregate United States
9,666
S116,135,871
11,946
3179,677,523
1,068
$9,819,774
1,221
$11,828,386
56
$19,919,104
147
$116,108,661
Total disbursement 75,294 61,657 58,068 195,019 78,52552,248 48,403 179,176
Less repayment of uni
expended balances__ 1,543 1,159 1,911 4,616
801 1,334
42i 491
The record of failures by quarters for the three quarters
of the last twenty-three years is as follows:
73,751 60,498 56,157 190,403 78,483 51,757 47,602 177,842
I 0
Dominion of Canada
Banking failures in United States
(not included in above)
First Quarter.
Second Quarter.
Third Quarter.
Years-
1887
1888
1889
1890....
1891
1892
1893
1894
1805
1896
1897
1898
1899
1900
1901
1902.....
1903
1904
1905.....
1906
1907
1908
1909,.
No. of
Failures.
Amount of
Liabilities.
No. of
Failures.
Amount of
Liabilities.
3,007
2,948
3,311
3,223
3,545•
3,384
3,202
4,304
3,802
4,031
3,932
3,687
2,772
2,894
3,335
3,418
3,200
2,344
3,443
3,102
3,136
4,909
3.850
$32,161,762
38,884.789
42,972,516
37,852,068
42,167,631
39,284,349
47,338,300
64,137,333
47,813,683
57,425,135
48,007,011
32,946,565
27,152,031
33,022,573
31,703,486
33,731,758
34,344,433
48,066,721
30,162,505
33,701,107
32,075,591
75,706,191
44,460,950
1,905
2,241
2,292
2,162
2,529
2,119
3,199
2,735
2,855
2,995
2,889
3,031
2,081
2,438
2,424
2,747
2,428
2,870
2,767
2,510
2,471
3,809
2,981
$22,976,330
29,229,370
22,856,337
27,466,416
50,248,636
22,989,331
121,541,239
37,601,973
41,026,261
40,444,547
43,684,876
34,498,074
14,910,902
41,724,879
24,101,204
26,643,098
32,452,827
31.424,188
25,742,080
28,902,967
37,493,071
48,608,642
44,080,423
No. of Amount of
Failures.
1,938
2,361
2,276
2,196
2,754
1,984
4,015
2,868
2,792
3,757
2,881
2,540
2.001
2,519
2,324
2,511
2,543
2,969
2,596
2,300
2,483
3,237
2,835
573,022,556
22,114,250
30,227,045
35,452,436
44,302,494
18,659,235
82,469,821
29,411,196
32,167,179
73,285,349
25,601,188
25,104,778
17,640,972
27,119,096
24,756,172
25,032,634
34 858,595
32,168,296
20,320,443
21,996,163
46,467,686
55,302,690
27,594,498
BANK NOTES-CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.-We give below tables which
show all the monthly changes in bank notes and in bonds
DisbursementsCivil and miscellaneous 18,463 14,231 11,847
22,179 12,716 14,850
War
11,345 10,110 10,848
Navy
1,522 1,952 1,089
Indians
13,936 13,755 13,114
Pensions
1,500 3,000 3,002
Postal deficiency
130
Interest on public debt 3,279 1,889
3,070 2,004 3,188
Panama Canal
44,541 19,273 13,958 10,425 43,656
49,745 22,367 10,195 13,222 45,784
32,303 9,876 8.269 9,625 27,770
4,563 1,759 2,164 1,104 5,027
42,805 13,888 14,288 13,493 41,669
7,502 4,000
4,000
5,298 3,270 1,731
142 5,143
8,262 4,092 1,643
392 6,127
National Banks.-The following information regarding
national banks is from the office of the Comptroller of the
Currency, Treasury Department:
APPLICATIONS TO CONVERT INTO NATIONAL BANKS
APPROVED.
The Scottsbluff State Bank, Scottsbluff, Neb., into "The Scottsbluff
National Bank." Capital, $60,000.
The Bank of Boyd County, Dutte, Neb., into "The First National Bank
of Butte." Capital. $25,000.
NATIONAL BANKS ORGANIZED.
October 1 to October 6.
calistoga National Bank, Calistoga, Cal. Capital, $25,000.
R. J. Tyson, President; H. C. Thompson, Vice-President; E. L.
Armstrong, Cashier.
9,552-The First National Bank of Mildred, Pa. Capital, $25,000. John
C. Schaad, President; Peter P. Murray, Vice-President; John B.
Henning, Cashier,
9.553-The First National Bank of Brookville, 0. Capital, $25,000.
H. E. Gardiner, President; William H. Becher, Vice-President;
0. G. Harrison, Cashier.
9,554-The First National Bank of New Wilmington, Pa. Capital, $40.
000. John H. Veazey, President; Samuel W.Price, Vice-President;
Howell T. Getty, Cashier.
9,555-The First National Bank of Dyersville, Ia. Capital, $50,000.
Frank L. Drexler, President; Albert M. Cloud. Vice-President; H. B.
Willenborg, Cashier: F. H. Dentmeyer. Assistant Cashier.
LIQUIDATIONS.
5,415-The First National Bank of Durand, Mich. April 7 1909.
National
Bank
of
Holton, Kan. July 31 1909.5,041-The
8,061-The First National Bank of Hollis, Okla. Sept. 27 1909.
7.894-The National Bank of the Pacific at Safi Francisco, Cal, Oct. 1 1
[VOL. Lxxxix.
THE CHRONICLE
974
Statement of New York City Clearing-House Banks.—The
Auction Sales.—Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction. detailed statement below shows the condition of the New
By Messrs. Adrian H. Muller & Son:
York Clearing-House banks for the week ending Oct. 9.
Stocks.
Stocks.
The figures for the separate banks are the averages of the
22 Point 0' Woods Navigation
10 United N.J. RR. & Canal Co 253
$28 per share daily results. In the case of the totals, the actual figures
Co., $50 each
100 Internat. Curtis Marine Tur180
bine Co..$50 each_ __ _$5 25 per share 10 Carnegie Trust Co
$41 lot at the end of the week are also given.
875 Edgar Realty Co •
102 Curtis Steam Turbine Co., $1
Life Asa°. of America,$20 each 16
each
$2 50 per share 20
30 Pine Lawn Cemetery_$4 50 per share
26 Union Bank of Bklyn. (stock
275
15 Bond & Mtge. Guar. Co
102
trust ctfs.)
430 Nesmith-Constantine Co., com1250
11 United States Trust Co
$900 lot
mon
10 Germania Life Insurance Co_ _211
50 Westchester Trust Co., Yonk77 Keansburg Beach Water Co.,)
130
ers, N. Y
)$50
$25 each
20 Keansburg Beach Realty Co.,I lot
Bonds.
$100 each
$10,000 Sen-Sen Chiclet Co. Series
58 German-Amer. Fire Insurance
90% & int.
A 6s, 1929; J. & D
545% to 551
Co
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
When
Payable.
Railroads (Steam).
Dec.
3
Atch. Topeka & Santa Fe, common
2% Nov.
Atlantic Coast Line RR., preferred
Nov.
2
Central RR. of New Jersey (quar.)
1% Oct.
Cleve. Cln. Chic & St. L., pref.(quar.)_ _
Delaware Lackawanna & Western (quar.) 2% Oct.
Nov.
4
Evansville dc Terre Haute, common
1% Oct.
Grand Rapids & Indiana....
_
1% Nov.
Great Northern (guar.)
4e
Mexican Ry., 1st .Preference
1 5-16e
Second Preference
Oct.
3
Minn. St. Paul & S.S.M., corn.(No. 13)
3% Oct.
Preferred (No. 13)
Nov.
2
Missouri Kansas & Texas, preferred
2% Dec.
Norfolk & Western, Common
1% Nov.
Northern Pacific (quar.)
2
Nov.
Reading, second preferred
Rome Watertown dr Ogden guar. (quar.) 1% Nov.
1
Nov.
St. Louis & San Fran., 1st pref. (guar.)._
3
Nov.
Utica Chenango & Susq., guar
Street & Electric Railways.
3
Nov.
Cape Breton Elec. Co., Ltd., pref
Columbus (0.)Ry., pref.(guar.)(No. 40). 134 Nov.
East St.L.& Sub. pref.(guar.)(No. 14).. _
134 Nov.
134 Nov.
Grand Rapids Ry., pref.(quay.)(No.36)_ _
Nov.
Havana Electric Ry., corn.(guar.)(No. 4). 1
Preferred (guar.)(No. 15)
134 Nov.
1% Nov.
Mexico Tramways (guar.)
Nov.
MilwaukeeEl.Ry.&L.,prof (qu.)(No.40).
2% Nov.
Montreal Street Ry. (quar.)
Oct.
1
Northwestern Elevated (Chicago). pret
Nov.
Philadelphia Company, common (quar.).
Nov.
1
Railways Company General (guar.)
Nov.
Rio de Janeiro Tr., L. & P., Ltd.(No. 1) 1
Twin City Rap. Tr., hlinneap., com.(qu.) 1% Nov.
Banks.
24 Nov.
Mount Morris (guar.)(No. 39)
Trust Companies.
Nov.
Nassau, Brooklyn (guar.)
Miscellaneous.
Oct.
American Chicle, common (monthly).....
Oct.
American Dist. Teleg. of N. J.(quar.)..
Nov.
2
Amer. Light dr Tract., corn.(quar.)
2%tl Nov.
Common (extra)
1% Nov.
Preferred (guar.)
1% Oct.
American Locomotive, pref. (quar.).__
Nov.
American Malt Corporation, preferred..
$1.56 Nov.
American Malting, preferred
American Seeding blacking, pref. (guar.)_
13 Oct.
Anaconda Copper Min. (quay.)(No. 36). 50e. Oct.
P., com.(qu.)_
Oct.
Binghamton(N
Preferred (guar.)
13. Oct.
Butte Elec. & Pow., pref.(guar.)(No.33) 1% Nov.
1% Nov.
Commonwealth-Edison (var.)
Consolidated Ice, Plash., pref. (quar.)... 1% Oct.
Oct.
Distillers' Securities Corp., (qu.)(No. 28)
Oct.
Distilling Co. of America, pref. (quar.)....
Oct.
duPont(E.I.)deNemours Powd.Pref.(qu.)
Nov.
Eastern Steamship (quar.)(No. 1)
2% Jan.
Eastman Kodak, corn. (guar.)
2% Dec.
Common (extra)
Jan.
Preferred (guar.)
Nov.
Edison Elec. Ill., Boston (quar.)(No. 82)
Nov.
Electrical Securities Corporation, pref.-Oct.
Electric Bond & Share,corn.(guar.)(No.2) 2
Nov.
13
Preferred (guar.)(No. 18)
134 Nov.
Federal Sugar Refining, pref.(guar.)
Gorham Manufacturing, corn.(guar.)
234 Nov.
Guanajuato P. & El., pref. (qu.)(No. 5) 134 Nov.
Harbison-Walker Refract., pref. (quar.). 134 Oct.
International Nickel, common (quar.)._
34 Dec.
Common (extra)
Dec.
Prcfeered (quar.)
Nov.
Nov.
Internat. Smokeless Pow. & Chem., pref..
Internat. Steam Pump, pref.(qu.)(No42) 1% Nov.
Nov.
2
LaBelle Iron Works (guar.)
1% Dec.
Lanston hfonotype Machine (guar.)
La Rose Consolidated Mines (quar.)
Oct.
3
Extra
Oct.
1
1% Dec.
Michigan State Telephone, cam. (guar.)_ _
Nov.
Preferred (quar.)
2%e Nov.
Milwaukee & Chicago Breweries,Ltd
Minneapolis Gerter •1 Electric, corn. (guar.) 1% Nov.
Municipal Gas, Al!any. N. Y.(quar.). _- - 234 Nov.
134b Nov.
New England Cotton Yarn, pret.(quar.).
Oct.
5
Nlpissing Mines (guar.)
Oct.
Extra
Nov.
11
Pacific Coast Co., corn. (guar.)
Nov.
First preferred (guar.)
ljj Nov.
Second preferred (quar.)
334 Nov.
Pennsylvania Steel, pref.
Nov.
1
Popo Manufacturing Co., pref. (quar.).- Nov.
Public Service Investment Co., pr. (guar.) _$1
1% Nov.
Sears, Roebuck & Co., corn.(guar.)
Oct.
1
Shawinigan Water & Power (quar.)___ _
Nov.
Silversmiths Company (guar.)
Standard Milling, preferred (No. 13)---- 134 Oct.
Oct.
Street's West. Stable-Car Line. com.(qu.)
United Cigar Mfrs., common (quar.)__ _
Nov.
Common (extra)
Nov.
1
Nov.
United Dry Goods Cos., corn.(quar.)__ _
2
United Fruit (extra) _
10
Nov.
Nov.
U.S. Realty & Improvement (quar.). _ _ _
13
Oct.
U. S. Rubber, 1st pref. (quar.)
1% Oct.
Second preferred (guar.)
1% Oct.
Wean Detinning, preferred (quar.)_ _ _
1% Nov.
White (J. G.) & Co., nref. (guar.)
3% Nov.
Worthington (H. R.) Inc., pref
Books Closed
Days Inclusive
1
1 Holders of rec. Nov. 5
10 Nov. 1 to Nov. 9
1 Holders of rec. Oct. 22
20 Holders of rec. Oct. 1
20 Holders of rec. Oct. 4
1 Holders of rec. Sept. 18
25 Oct. 17 to Oct. 25
1 Holders of ree. Oct. 18
Oct. 4 to Oct. 21
Oct. 4 to Oct. 21
16 Holders of rec. Oct. 1
16 Holders of rec. Oct 1
10 Oct. 21 to Nov. 9
17 Holders of rec. Nov. 30
1 Holders of rec. Oct. 8
10 Holders of rec. Oct. 23
15
1 Holders of rec. Oct. 18
1 Holders of rec. Oct. 15
1 Holders of rec. Oct. 15
1 Holders of rec. Oct, 15
1 Holders of rec. Oct. 15
1 Holders of rec. Oct. 15
13 Oct. 25 to Nov. 13
13 Oct. 25 to Nov. 13
1
1 Holders of rec. Oct. 20
2 Oct. 14 to Nov. 2
18 Oct. 9 to Oct. 18
1 Holders of rec. Oct. 1
1 Oct 21 to
1 Oct.16 to Oct. 31
15 Holders of rec. Oct. 20
1 Oct. 21
to
1 Oct. 28
to
We omit two ciphers (00) in all cases.
Banks.
005 omitted.
Capital. Surplus.
Loans.
Average.
Specie. Legals. Deposits. ReAverage. Average. Average. s've.
$
2,000,0 3,374,4 19,692,0 3,149,0 1,296,0 17,621,0 25.2
Bank of N. Y_ _
2,050,0 4,088,4 32,300,0 7,254,0 1,728,0 37,100,0 24.2
Manhattan Co_
Merchants' _- _- 2,000,0 1,642,1 19,335,0 3,433,0 1,483,0 19,686,0 25.1
3,000,0 3,767,3 27,267,0 6,278,0 1,210,0 28,258,0 26.4
Mechanics' _ _
1,500,0 5,674,1 25,079,9 4,360,7 1,810,4 25,555,9 24.1
America
465,0
8,483,0 25.9
8,890,0 1,699,0
1,000,0
657,9
Phenix
25,000,0 29,046,9 178,389,7 38,546,5 5,491,0 168,762,9 26.1
City
3,000,0 6,059,1 28,955,7 5,095,6 1,969,2 27,570,0 25.7
Chemical
7,183,3 27.2
124,6
1,836,2
532,0
6,749,1
600,0
Merchants' Ex_
7,121,8 25.5
813,3
1,000,0 2,468,4
9,299,8 1,008,3
Gallatin
2,033,9 23.0
118,9
349,9
148,0
2,120,2
300,0
Butch. dr Drov_
25.1
8,255,0
200,0
1,878,2
500,0
779,7
7,395,0
Greenwich
5,000,0 5,220,0 30,276,9 4,249,0 1,369,8 22,925,7 24.6
American Ex_
25,000,0 15,594,5 150,924,1 24,383,5 8,794,4 129,885,1 25.6
Commerce
3,000,0 2,564,5 15,260,1 2,257,2
822,0 12,148,8 25.3
Mercantile
3,459,1 24.0
898,9
500,0
566,2
3,891,3
264,2
Pacific
7,699,6 25.7
450,0 1,025,0
947,1 1,037,4
7,181,8
Chatham
2,312,8 25.4
475,4
200,0
136,3
2,376,1
452,5
Peoples'
3,000,0 10,922,2 64,465,4 12,864,4 6,560,3 75,204,7 25.8
Hanover
319,9 23,600,6 26.4
2,550,0 1,508,6 23,279,4 5,876,8
Citizens' Cent.. _
6,731,2 24.8
963,9
707,8
465,8
6,092,1
500,0
Nassau
8,009,4 28.6
970,7
7,943,5 1,327,5
1,000,0 1,671,5
Market & Fulen
201,7 13,102,4 25.7
2,000,0 1,395,2 12,639,0 3,173,9
Metropolitan _ _
Corn Exchange. 3,000,0 5,310,9 46,114,0 8,141,0 5,569,0 54,712,0 25.0
Imp. & Traders' 1,500,0 7,415,9 25,714,0 4,349,0 2,020,0 23,765,0 26.8
3,000,0 9,750,2 85,871,0 23,608,0 1,258,0 97,421,0 25.5
Park
1,441,0 28.3
94,9
312,9
1,459,4
103,7
250,0
East River_ _
3,000,0 3,324,7 23,980,0 4,695,0 2,100,0 26,627,0 25.5
Fourth
306,0 13,273,0 25.2
1,000,0 1,845,4 12,876,0 3,042,0
Second
10,000,0 19,023,9 109,160,1 21,783,6 1,107,1 97,747,5 23.4
First
2,000,0 1,441,4 21,348,2 4,294,2 1,648,8 22,842,9 26.0
Irving x _ _
3,575,0 24.3
53,0
250,0
816,0
3,438,0
811,7
flowery
8,241,1 26.3
709,3
7,977,2 1,418,6
500,0 1,598,3
N. Y. County.._
4,004,4 24.3
227,9
4,214,2
745,1
750,0
German-Amer _
649,7
5,000,0 6,685,1 75,399,0 16,042,3 4,487,3 81,579,2 25.1
Chase
100,0 2,055,5 13,672,2 2,000,8 1,065,9 15,471,0 25.7
Fifth Avenue.._
3,708,4
3,653,9 22.4
405,6
200,0
415,0
German Exch_ _
886,1
6,090,4 23.7
542,6
903,2
5,338,9
Germania
200,0 1,040,4
Lincoln
1,000,0 1,373,8 18,452,2 3,661,4 1,144,9 20,165,9 23.8
8,135,2 26.6
283,1
7,850,2 1,883,5
1,000,0 1,148,8
Garfield
3,813,8 25.7
681,4
299,5
3,469,2
474,4
250,0
Fifth
1,000,0 2,006,9 11,371,6 1,040,5 1,646,9 11,161,1 24.0
Metropolis _ _ _ _
5,193,0 25.6
244,0
4,680,0 1,086,0
200,0 1,130,0
West Side
1,000,0 1,765,3 19,016,0 4,038,0 1,693,0 21,957,0 26.1
Seaboard
774,7 18,144,5 26.6
1,000,0 2,615,2 17,941,3 4,071,8
Liberty
268,4
9,651,3 25.8
8,050,8 2,223,7
738,7
N.Y.Prod. Ex. 1,000,0
268,0 16,156,0 24.9
825,4 13,238,0 3,760,0
1,000,0
State
5,973,8 23,5
598,4
5,580,3
807,7
331,0
1,000,0
14th Street._ _ _
682,3 29,345,0 25.6
2,000,0 2,734,3 27,666,9 6,666,7
Copper
5,651,0 25.0
463,0
955,0
5,643,0
305,2
1,000,0
Coal & Iron.. _
Totals, Average 127,350,0 177,371,8 1273,033,2 255,734,7 68,413,6 1278,402,2 25.3
Actual figures
Oct.9
1255,548,8 252,578,2 69,251,4 1258,331,2 25.5
Nov. 1
On the basis of averages, circulation amounted to $51,599,200 and United States
20 Oct. 2 to Oct. 20 deposits (included In deposits) to $1,675,100; actual figures October 9, circulation,
22 Oct. 14 to Oct. 21 351,526,900; United States_deposits, $1,649,300.
1 Oct. 21 to Oct. 31
The State Banking Department also now furnishes weekly
15 Oct. 21 to Oct. 31
1 Oct. 21 to Oct. 31
21 Sept. 22 to Oct. 21 returns of the State banks and trust companies under its
3 Oct. 22 to Nov. 11
cover all the institutions of this class
1 Oct. 22 to Nov. 11 charge. These returns
15 Holders of rec. Sept.30a in the whole State, but the figures are compiled so as to
20 Holders of rec. Oct. 2
Not closed.
15
distinguish between the results for New York City (Greater
Not closed.
15
1 Holders of rec. Oct. 15 New York) and those for the rest of the State, as per the
1
following:
20 Oct. 10 to
30 Sept. 30 to Oct. 20
STATE BANKS AND TRUST COMPANIES.
29 Sept. 30 to Oct. 20
25 Oct. 16 to Oct. 25
1 Holders of rec. Oct.15
Stale Banks
Trust Cos.
State Banks
Trust Cos.
1 Holders of rec. Nov. 30
in
in
outside of
outside of
Week ended Oct. 9.
1 Holders of rec. Oct. 30
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y.
1 Holders of rec. Nov. 30
1 Holders of rec. Oct. 15
$
$
$
$
1 Oct. 30 to Nov. 10 Capital as of April 28._ _ _
7,725,000
8,598,000
25,975,000
59,675,000
15 Holders of rec. Oct. 14e
1 Oct. 17 to Nov. 2 Surplus as of April 28_ _ _
9,786,676
10,316,230
37,303,000 173,921,500
1 Holders of rec. Oct. 29a
10 Holders of rec. Nov. 8 Loans and investments __ 307,318,600 1,148,870,500
87,232,400 131,700,500
1 Oct. 16 to Nov. 1
+198,400
—3,000
+1,671,000 +6,211,300
Change from last week_
20 Holders of rec. Oct. 9
1 Nov. 12 to Dec. 1 Specie.
47,523,000 124,376,400
1 Nov. 12 to Dec. 1
+55,000
Change from last week_ —2,278,800
1 Oct. 13 to Nov. 1
15 Holders of rec. Nov. 5 Legal-tenders & bk. notes
14,116,200
25,617,800
1 Oct. 21 to Nov. 2
—8,700
+28,000
Change from last week_
Holders of rec. Oct. 23
30 Dec. 17 to Dec. 30 Deposits
93,601,100 141,074,900
351,646,000 1,228,869,500
20 Oct. 1 to Oct. 14
+905,900
+978,000
—948,900 —22,030,700
Change front last week_
20 Oct. 1 to Oct. 14
1 Nov. 16 to Nov. 30 Reserve on deposits
20,270,500
92,447,600 145,415,000
20,389,800
1 Oct. 19 to Nov. 1
+23,500
+100,600 +1,026,100
Change from last week_ —2,615,800
1 Holders of rec. Oct. 20
1 Holders of rec. Oct. 22 P.C. reserve to deposits
15.7%
22.3%
26.8%
15.1%
1 Holders of rec. Oct. 25
15.9%
27.4%
22.4%
14.4%
Percentage last week....
1 Oct. 16 to Oct. 31
20 Oct. 1 to Oct. 14
20 Oct. 1 to Oct. 14
+ Increase over last week. — Decrease from last week.
1 Oct. 23 to Nov. 1
Note.—"Surplus" Includes all undivided profits. "Reserve on deposits" in
1 Oct. 23 to Nov. 1
both trust companies and State banks, not only cash items, but amounts
1 Oct. 23 to Nov. 1 eludes, forreserve agents. Trust companies In New York State
are required by
from
due
1 Holders of rec. Oct. 16
to keep a reserve proportionate to their deposits, the ratio varying according
1 Holders of rec. Oct. 26 lawlocation
below. The percentage of reserve required is computed on
shown
as
to
1 Holders of rec. Oct. 22
of deposits, exclusive of moneys held in trust and not payable within
15 Holders of rec. Nov. 1 the aggregateand
also exclusive of time deposits not payable within 30 days, repre20 Holders of rec. Oct. 7 thirty days,
and also exclusive of deposits secured by bonds of the State
certificates,
by
sented
15 Holders of rec. Nov. 10
State banks are likewise required to keep a reserve varying
The
York.
30 Oct. 26 to Oct. 31 of New to location, but in this case the reserve is computed on the whole amount
according
to
15
Oct. 25
25 Oct.
exclusive of deposits secured by bonds of the State of New York.
1 Holders of rec. Oct. 26 of deposits,
—State Banks—
—Trust Cos.—
1 Holders of rec. Oct. 26
Of
1 Oct. 26 to Nov. 1 Reserve Required for Trust Companies
Total
Of
Total
15 Holders of rec. Oct. 29
Reserve
which
which
Reserve
and State Banks.
1 Holders of rec. Oct. 20
Cash.Required. in Cash
in
Required.
Location—
30 Holders of rec. Oct. 15a
15%
15%
15%
25%
30 Holders of rec. Oct. 15a Manhattan Borough
10%
20%
10%
20 Holders of rec. Oct. 9 Brooklyn Borough(without branches in hlanhat.).15%
734%
1 Holders of rec. Oct. 23 Other Boroughs(without branches in hlanhattan) 15%
10%
15%
1 Oct. 21 to Nov. 2 Any Borough with branches in Manhattan
25%
15%
15%
15%
10%
6%
5%
15%
State
In
Elsewhere
a Transfer books not closed. b Declared 6%, payable in quarterly installments.
+ Increase over last week. — Decrease front nst week.
d'Payable In common stock. e Less Income tax.
OCT. 16 1909.1
THE CHRONICLE
975
The Banking Department also undertakes to present
Boston and Philadelphia Banks.-Below is a summary of
separate figures indicating the totals for the State banks and the weekly totals of the Clearing-House banks of Boston
trust companies in the Greater New York not in the Clearing and Philadelphia.
We omit two ciphers (00) in ail. these figures.
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingCapital
Banks.
and
Loans.
Specie. Legals. Deposits. a Circu- Clearings.
House banks. In addition, we have combined each correSurplus.
lation.
sponding item in the two statements,thus affording an aggreBoston.
gate for the whole of the banks and trust companies in the Sept. 18.. 40,300,0 211,197,0 24,773.0 5,145,0 269,521,0 7,012,0 161,032,6
Sept. 25.. 40,300,0 212,206,0 25.643,0 3,907.0 264.329,0 6.996,0 145,830,5
Greater New York.
Oct. 2.. 40,300,0 215,389,0 25,099,0 4,496,0 265,224,0 6,979,0 164,972,1
NEW YORK CITY BANKS AND TRUST COMPANIES.
Clear.-House Clear -House State Banks & Total of all
Banks.
Trust Cos. not Banks& Trust
Banks.
Average. in C.-H. Aver. Cos. Average.
ActualFigures
Week ended Oct. 9.
Capital INat. Banks)
Sept. 1 __ _f
Surplus State Banks
Sept. 14_ _
127,350.000
127,350,000
*69,700,000
197,050,000
177,371,800
177,371,800
*182,845,100
360,216,900
Loans and Investments 1,255,548,800 1,273,033,200 1,246,342,700 2,519,375,900
Change from last week -49,414,100 -36,673,000
+7,869,500 -28,803,600
Oct. 9 _Phila.
Sept. 18..
Sept. 25..
Oct. 2_ _
Oct. 9..
40,300,0 215,782,0 24,680,0 4,274,0 269,222,0 7,032,0 177,033,1
56,315,0
56,315,0
56,315,0
56,315,0
Legal-tenders
Change from last week
Aggr'te money holdings
Change from last week
69,251,400
+589,100
386,769,700
131,035,000
+147,200 -11,538,800
68,413,600
-709,000
321,829,600
324,148,300
-7,503,100 -12,395,000
478,395,300
c154,247,000
+223,600 -12,171,400
Money on deposit with
other bks. & trust cos.
Change from last week
Total reserve
Change from last week
Percentage to deposits
requiring reserve_ _ _ _
Percentage last week
91,625,600
-632,600
b23,212,000
+76,400
24,025,000
+3,900
24,025,000
+3,900
321,829,600
324,148,300
-7,503,100 -12,395,000
25.59%
25.15%
Surplus reserve
25.38%
25.38%
7,248,800
502,420,300
178,272,000
+227,500 -12,167,500
17.1%
17.3%
149,111,3
155,051,2
153,247,1
154,064,6
Imports and Exports for the Week.-The following are
the imports at New York for the week ending Oct. 9; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For Week.
252,578,200
255,734,700
-8,092,200 -11,686,000
325,789,0 16,544,0
326,076.0 16.602,0
326,855,0 16,649,0
322,016,0 16,800,0
a Includ ng Government deposits and the item "due to other banks." At Boston
Government deposits amounted to 112,013,000 on Oct. 9, against $2,016,000 on Oct.2.
Deposits
1,258,331,200 1,278,402,200 a1,216,100,700 3,494,502,900
Change from last week -52,489,500 -49,004,300
+2,309,000 -46,695,300
Specie
Change from last week
75,076,0
77,187,0
77,025,0
. 73,087,0
275,237,0
273,699,0
274,897.0
274,955,0
Dry Goods
General Merchandise
Total
Since January 1.
Dry Goods
General Merchandise
Total 40 weeks
1909.
1908.
1907.
1906.
2,897,928
15,854,798
$2,663,152
10,282,036
$3,001,076
10,318,996
$2,982,859
12,206,044
$18,752,726 $12,945,18 $13,320,072 $15,188,903
$130,323,435 $94,049,067 8146,229,416 5124,514,964
533,126,668 386,442,027 526,646,530 459,379,837
$663,450,103 $480,491,094 8672,875,946 $583,894,801
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 9 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK.
4,547,750
1909.
+ Increase over last week. -Decrease from last week. *As of April 28.
a These are the deposits after eliminating the item "Due from reserve delositorles
and other banks and trust companies in New York City:" with this Item included,
deposits amounted to $1,347,426,000, a decrease of $19,771,600 from last week.
In the case of the Clearing-House banks, the deposits are "net" both for the
average and the actual figures. b Includes bank notes. c Of this amouat State
banks held $15,754,400 and trust companies $138,492,600.
For the Week
Previously reported
Total 40 Weeks
1908.
1907.
1
1906.
$11,629,554 $12,553,827 $14,624,233 512.402,664
454,974,480 480,575,468 480,273,639 453.893,969
$466,604,034 $493,129,295 5494,897,872 $466,296,633
The following table shows the exports and imports of
The averages of the New York Clearing-House banks Specie at the port of New York for the week ending Oct. 9
combined with those for the State banks and trust cotnpanies and since Jan. 1 1909, and for the corresponding periods in
in Greater New York outside of the Clearing House compare 1908 and 1907:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
as follows for a series of weeks past:
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers (00) in all these figures.
Week
Ended.
Loans and
Investments.
Deposits.
Aug. 14._
Aug. 21._
Aug. 28._
Sept. 4...
Sept. 11..
Sept. 18._
Sept. 25._
Oct. 2__
Oct. 9._
$
2,567,635,5
2,570,714,7
2,580,237.8
2,573.391,2
2,568,181,7
2,552,792,6
2,543,778,6
2,548,179,4
2.519,375,9
$
2,617,930,8
2,611,409,4
2,614,262,2
2,600,034.5
2,578,878,7
2,565,384,6
2,545,711,1
2,541,198,2
3,494,502,9
Specie.
Legals.
Tot. Money Entire Res.
Holdings. on Deposits
$
$
$
$
432,116,1 101,089,2 533,205,3 561,422,0
428,500,3
98,753,7 527,254,0 554,242,3
425,367.2
99,986.0 525,353.2 652,476,3
420,244,8
98,538,2 518,783,0 546,731,7
410,884,4
95,234,0 506,118,5 535,304,8
405,927,4
95,001.1 500,928,5 528,412,4
405,999,3
94,153,5 500,152,8 525,896,1
:398,308,5
92.258,2 490,566,7 514.587,8
386,769,7
91,625,6 478,395,3 502,420,3
Reports of Non-Member Banks.-The following is the
statement of condition of the non-member banks for the
week ending Oct. 9, based on average daily results:
We omit two ciphers (00) in all these figures.
Banks.
Capital.
SurPlus.
N. Y. City.
Boroughs o
Man.& Brx.
Wash. Hg
100,0
243,1
Century _ _ _
154,4
200,0
Colonial _ _
400,0
283,5
Columbia _
300,0
452,9
Fidelity _
200,0
164,3
Jefferson _ _
500,0
657.7
Mt. Morris_
250,0
283,8
Mutual _
200,0
322.3
Plaza _ _
100,0
410,6
200,0
25d Ward_ _
95,4
Union Ex.N 1,000,0
934,4
100,0
Yorkville _ _
456,0
200,0
NewNethI'd
258,4
200,0
146,5
I3att.Pk.Na
300.0
316,8
Aetna Nat_
Borough of
Brooklyn.
200,0
531,3
Broadway
252,0
787,6
Mfrs' Nat_ _
927,7
Mechanics'. 1,000,0
949,0
Nassau Nat. 750,0
593,8
300,0
Nat. City139,7
200,0
North Side_
Jersey City.
First Nat_ - 400,0 1,222,1
725,8
Hud.Co.Nat 250,0
380,2
200,0
Third Nat- Hoboken.
626,5
220,0
First Nat_ _
232,6
Second Nat, 125,0
Loans,
Disc'ts
and
Investments.
Specie.
Legal
Tender
and
Bank
Notes.
Deposit withClearlug,
Agent.
Net
Other
Banks, Deposits.
&c.
1,325,0
1,652,6
5,408,9
5,862,0
1,007,5
3,662,8
2,695,0
3,962,6
4,235,0
1,922,5
8,131,8
4,123.9
2,058,0
1,160,9
2,103,3
73,0
136,0
32,7 238,6
787,9 450,1
595,0 561,0
60,2
85,4
11,7 478,4
33,8
524,0
25,0 639,6
320,0 421,0
58,7
175,2
907,5 1,200,0
49,8 824,9
212,0
67,0
228,5
33,4
401,0
26,4
172,0
47,4
617,6
606,0
136,0
167,9
354,6
304,8
665,0
258.5
97,1
259,1
261,0
66,5
28,9
5.
1,300,0
145,4 1,860,4
325,4 6,943,2
7,023,0
1,024,7
162,6 3,620,5
73,8 3,488,3
5,2 4,469,4
5,107,0
2,246,1
8,216,7
251,8 5,393,9
5,0 2,154,0
1,125,4
28,8 1,940,7
3,310,1
5,996,0
11,996,6
7,581,0
4,238,0
1,969,3
18,3 455,9
609,2 128,4
315,0 1,503,1
445,0 507,0
113,0 659,0
137,1
69,6
353,7
837,3
1,171,8
1,382,0
830,0
197,6
255,9 4,047,3
138,8 6,622,8
279,8 15,096,9
8,094,0
1-6:8 5,681,0
142,4 2,260,4
432,6 2,641,4
42,0
165,0
131,5
413,0
778,2 6,859,4
215,3 2,689,1
22,9 2,256,4
4,515,8
2,937,7
1,971,0
293,3
169,8
31,9
2,413,0
2,436,6
133,5
85,1
18,4
84,1
122,8
60,5
58,4
223,3
1,941,6
2,681,3
Tot. Oct. 9 8,147,0 12,296,4 98,676,9 6,823,9 9,203,7 12,247,5 3,302,0 114143,5
Tot. Oct. 2 8,147,0 12,296,4 97,658,6 6,743,9 8,986,6 12,531,0 3,238,2 112639,6
Tot.Sept.26 8,147,0 12,296,4 97,656,6 6,554,3 8,946,2 12,658,2 3,204,7 113159.3
Exports.
Imports.
Clot d.
Wcek.
Great Britain
France
Germany
West Indies
Mexico
South America
All other countries
Total 1909
Total 1908
Total 1907
Since Jan.1
813,958,120
13,881,232
2,061,195
5,000
5100,000 43,058,450
4,030,695
$100,000 $76,994,692
47,647,925
971 34,444,986
Silver.
Great Britan
France
Germany
West Indies
Mexico
South America
All other countries
Since Jan.1
$560
5,171
334
70,194
43,330
$200,067
2,162,863
10,523
603,988
430,752
1,962,653
1,720,553
$119,589 $7,091,399
128,421 14,390,340
170,347 8,203,328
$764,218 $32,205,657
25,700 3,338,450
11.090
500
108,476
$1,644
31
3,326
44,226
30,712
2,655
5,468
31,650
5790,418 535,738,611
876,222 33,033,046
794,169 39,688,515
Total 1909
Total 1908
Total 1907
Week.
$218,966
6,613
68,713
105,881
1,758,860
784,291
891,096
644,774 $3,834,420
96,409 2,899,882
340,982 2,641,652
Of the above imports for the week in 1909, $.__
were American gold coin and $____ American silver coin.
Of the exports during the same time, $100,000 were American gold coin and $ __ were American silver coin.
paulting and ginancial.
We shall be ;pleased to furnish to Institutions and investors copies
of our special circular describing
43 RAILROAD BONDS
Listed uptm the New York Stock Exchange
Spencer rrask &
NEW YORK
WILLIAM AND PINE STS..
Branch offices: Chicago. Ill., and Albany, N. Y,
MOFFAT & WHITE
BANKERS
Members New York Stock Exchange
THE ROOKERY
5 NASSAU STREET,
CHICAGO
NEW YORK
Banking and Exchange of every
description In connection with
IMPORTS AND EXPORTS
International Banking Corporation
NO. 60 WALL STREET. NEW YORK.
Special facilities for travelers
Capital & Surplus, $6,500,000
in all parts of the World.
Branches at Home and Abroad.
916
VOL. Lxxxix.
imIIE CHRONICLE
Vankers' Onzettr.
Wall Street, Friday Night, Oct. 15 1909.
The Money Market and Financial Situation.-Operations
in Wall Street have doubtless been restricted more or less
this week by the financial situation at home and abroad.
Although Saturday's bank statement made a somewhat
more favorable showing than that of the previous week,
and rates have been no higher, the banks have continued to
act with caution in the matter of loans. This tendency to
caution has been made more necessary perhaps by the fact
that the Bank of England has again increased its discount
rate, this time to 4%. From whatever cause,borrowers,
especially those in speculative circles, are finding it more
difficult to secure funds, and therefore a larger proportion
of business at the Stock Exchange has been in high-grade
issues than is sometimes the case.
The logical results of larger railway earnings are beginning
to be realized in increased dividend distributions. Last
week Atchison and this week Norfolk & Western were
added to the steadily increasing list of shares which are
paying larger returns to the owner. Another event of the
week which has attracted attention, especially in railway
circles, has been a change of control of Missouri Kansas &
Texas, which brings the latter into closer relations with other
important systems.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 4 to 5%. To-day's rates on call were 4@5%. Commercial paper quoted at 5@5%% for 60 to 90 day endorsements, 53/2@6% for prime and 4 to 6 months' single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £1,098,408 and the percentage
of reserve to liabilities was 44.09, against 45.21 last week.
The rate of discount was advanced Oct. 14 from 3%, as
fixed Oct. 7, to 4%. The Bank of France shows an increase
of 425,000 francs gold and a decrease of 2,225,000 francs
silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1909.
Averages for
week ending
Oct. 9.
Differences
from
previous week.
1908.
Averages for
week ending
Oct. 10.
1907.
Averages for
week ending
Oct. 12.
S
$
$
$
126,350,000 129,400,000
127,350,000
Capital
163,720,100 164,098,300
Surplus
177,371,800
Loans and discounts__ 1,273,033,200 Dec. 36,673,000 1,324,358,000 1,083,401,900
51,001,800
Circulation
44,000
53,514,300
51,599,200 Inc.
Net deposits
1,278,402,200 Dec. 49,004,300 1,402,753,100 1,026,047,800
U. S. dep. (incl. above)
9,248,000
1,675,100 Inc.
32,500
33,487,600
Specie
255,734,700 Dec. 11,686,000 306,469,500 198,558,800
Legal tenders
68,413,600 Dec.
709,000
78,926,000
62,608,600
Reserve held
25% of deposits
324,148,300 Dec. 12,395,000
319,600,550 Dec. 12,251,075
385,395,500
350,688,275
261,167,400
256,511,950
Surplus reserve
4,547,750 Dec.
143,925
34,707,225
4,655,450
rplus, excl. U. S. dep
4,966,525 Dec.
135,800
37,019.225
13,027,350
Note -The Clearing House now issues a statement weekly showing the total of
the actual figures on Saturday morning. These figures, together with the returns
of separate banks, also the summary issued by the State Banking Department
showing the condition of State banks and trust companies not reporting to the
Clearing House, appear on the second page preceding.
Foreign Exchange.-The market was irregular, active
and with wide fluctuations this week. Discount tension
abroad and a demand to cover maturing commitments in
The Bank of Germany
Europe were controlling factors.
and the Bank of England again advanced discounts this
week, the former to 5% and the latter to 4%.
To-day's (Friday's) nominal rates for sterling exchange
were 4 843/ for sixty-day and 4 86% for sight. To-day's
(Friday's) actual rates for sterling exchange were 4 8285®
4 8295 for long, 4 86@4 8605 for short and 4 8645 ®4 8650
for cables. Commercial on banks 4 8265@4 8275 and documents for payment 4 82@4 83. Cotton for payment 482@
4 823., cotton for acceptance 48265@4 8275 and grain for
8 ®483.
payment 4 823/
To-day's (Friday's) actual rates for Paris bankers' francs
% for long and 5 173/2d@5 173/ for short
were 5 20@5 193
Germany bankers' marks were 9432 ®94 9-16 for long and
95%d ®95% for short. Amsterdam bankers' guilders were
40.11®40.13 for short.
Exchange at Paris on London 25 fr. 17c.; week's range
25 fr. 17c. high and 25 fr. 13c. low.
The week's range for exchange rates follows:
Long
Sterling, ActualHigh
4 8325
04 8335
4 8285
Low
@4.8295
Paris Bankers' FrancsHigh
®& 19
5193a
Low
5 20
05 19%
Germany Bankers' MarksHigh
94%
P94%
943
Low
094 9-16
Amsterdam Bankers' GuildersHigh
r(h
Low
@
Short
Cables
14 86
14 8565
04 8610
04 8570
14 8645
I 4 8595
15- 173h
15 17Md
@1517
p5 I7-3.'
I
1
1
953/,d
95
®953
P951's
1
1
1
40 11
40 10
4:440 13
640 12
1
04 8655
P4 86
Less: a 1-16 of 1%. d 1-32 of 1%. h C-32 of 1%.
Plus: x 1-16 of 1%. k 1-32 of 1%. y 3-32 of 1%.
The following were the rates for domestic exchange on
New York at the under-mentioned cities to-day: Savannah,
buying, 50c. per $1,000 discount; selling, 75c. per $1,000
premium. Charleston, selling, $1 per $1,000 premium.
New Orleans, bank, 75c. per $1,000 discount; commercial,
$1 per $1,000 discount. Chicago, par ®10c. per $1,000 dis-
count. St. Louis, 10c. per $1,000 discount. San Francisco, 50c. per $1,000 premium.
State and Railroad Bonds.-Sales of State bonds at the
Board $5,000 Virginia 6s deferred trust receipts at 45.
Owing, no doubt, to money market conditions noted
above, the transactions in railway and industrial bonds,
have been on a much smaller scale than usual; indeed, the
market has been exceptionally dull for the season of year.
Notwithstanding this fact, prices have been well sustained.
In the active list declines are limited to minor fractions,and
these are about offset by advances in other issues.
The relatively strong issues are Atchison, Rock Island,
Union Pacific and Inter. Merchants' Marine. In addition
to. the above, Wabash, Southern Pacific, Pennsylvania,
Inter.-Met. and U. S. Steel bonds have been notably active.
United States Bonds.-Sales of Government bonds at the
Board include $3,000 4s reg., 1925, at 1165% and $6,500 2s
reg., 1930, at 100%. The following are the daily closing
quotations; for yearly range see third page following.
Interest
Periods
2s, 1930
registered Q-Jan
28, 1930
coupon Q-Jan
3s, 1908-18
registered Q-Feb
38, 1908-18
coupon Q-Feb
3s, 1908-18. _ _ _small coupon Q-Feb
4s, 1925
registered Q-Feb
4s, 1925
coupon Q-Feb
2$, 1936_Panama Canal regis Q-Feb
2s, 1938.Panama Canal regb3 Q-Nov
Oct.
9
Oct.
11
*100%
*WO%
*1003
*100%
100%
*100%
*101%
*101%
116%
*1173
*100%
*1003.
*116%
*117%
*100M
*1003
Oct.
12
H
0
L
I
D
A
Y
Oct.
13
Oct.
15
Oct.
14
*100% *100%
5 , *1005
/s
*100/
*101% *1011
*1013 *101%
*100%
*100%
1013
*101%
*1163
*117%
*100%
*100%
*116%.
*117%
*1003
*1005
*1161
*1173
*1003
*1003.
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-The stock market
has been more irregular and somewhat less active than last
week. The irregular movement of prices is illustrated by
an advance in Union Pacific, Canadian Pacific, St. Paul,
Missouri Kansas & Texas, Norfolk & Western, Rock Island,
Reading and Louisville & Nashville of from 1 to 3 points,
by a similar decline in New York Central, Delaware & Hudson and North Western, and also by the fact that a large
portion of the active list has covered a range of from 2 to 5
points, with such varying results. Rock Island and Missouri
Kansas & Texas have been strong on buying, influenced presumably by change of control of the last named and Norfolk
& Western on its increased dividend rate. The industrial
list has moved independent of railway issues. Copper stocks
have been weak on an accumulation of the metal,although
Amalgamated recovered to-day and United States Steel
moved up 53 points on buying stimulated by the increasing
demand for its various products.
For daily volume of business see page 986:
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Week ending Oct. 15.
Sales
for
Week
Range for Week.
Lowest.
Highest.
Range since Jan. 1.
Lowest.
Alice Mining
200 $2 Oct 13 $2 Oct 131 $2
Cent & So Am Teleg_ _ _
15 114 Oct 13 114 Oct 13105
General Chemical
110 95 Oct 14 95 Oct 14' 61
Preferred
100 104 Oct 11 104 Oct 11! 98%
Homestake Mining
100 91% Oct 11 91% Oct 11 87
Keokuk & Des M, prof
200 40 Oct 14 40 Oct 14 25
500 1043. Oct 9 1043. Oct 14 101
Laclede Gas(St Louis). _
St Jos ,Se Or Isl, 2d pref. _ 1,522 30 Oct 9 30 Oct 11 25
St L & S F-C & E Ill new
stock trust certificat
5 66% Oct 11 66% Oct 11' 623
Sears, Roebuck & Co, pf
130 119% Oct 15 119% Oct 15 101
Twin City Rap Tr, pref
25 140 Oct 15 140 Oct. 15 125
United Cigar Mfrs, pref..
100 107M Oct 14 107M Oct 14 99
100 127 Oct 14 127 Oct 14 115
S Leather, pref
987 26% Oct 9 27% Oct 14 6
Vulcan Detinning
160 71% Oct 11 71% Oct 11 45
Preferred
Highest.
Feb $2%
Jan 115
Jan 95
Jan 108
Jan 943
Feb 42
June 105
Moll 30
May
June
Aug
Aug
Apr
Aug
June
Jan
Apr 70
Jan 119M
May 140
Jan 110
Mch 128
Feb 28%
Jan 78
Apr
Oct
Aug
May
Mch.
Oct
Sept
Outside Market.-A generally heavy tone prevailed in
"curb" securities the fore part of the week, and recessions
in prices, though small, were the rule. The recent excitement in some of the silver stocks subsided; the market later
showed a general improvement, with fair activity throughout the list. La Rose Consolidated on the opening day
showed enormous transactions between 6 5-16 and 63', but
after this quieted down considerably, the price advancing to
Nipissing also settled back to a quiet state selling
Consolidown from 11 to 10k, then up to 11%. Boston'
dated fluctuated between 143 and 143', closing to-day at
14 8. Butte Coalition sold down from 253' to 24 and up to,
%,jumped
25. Cumberland Ely, after a decline from 7 to 65
to 75%, closing to-day at 7 5-16. First National rose from
5% to 63. Greene Cananea dropped from 10% to 10, reacted, and to-day reached 105%. Nevada Consolidated from
23%4 weakened to 235
% and sold up to 24, ending the week at
233
%. United Copper common sold off 13/b points to 8%,
but recovered to 10, the final transaction to-day being at
932. Giroux declined from 93/i to 85% and finished to-day at
8%. In the specialties, Chicago Subway was strong and
active, advancing from 55 to 8. American Tobacco sank
from 459 to 445 and then sold up to 450. Sears, Roebuck &
Co. common, after a decline from 119 to 118, ran up to 123.
The company declared a dividend of 13/2%, an increase of
over the previous payment. Southern Iron & Steel
common,"w. 'improved from 183 to 193/
2, and the preferred from 51 to 513.. Standard Oil from 702 dropped to.
696 and recovered finally to 700. United Cigar Mfrs. common rose from 805% to 83. In bonds, N. Y. Telephone 43s,
5 and down to 96%, with.
"w. i.," went up from 973 to 97%
the final transaction to-day at 97.
KOutside quotations will be found on page 986.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TaV4) PAGES
:47'ocS-111011EST AND LOWE.sT
Saturday
Oct. 9
Monday
Oct. 11
Tuesday
Oct. 12
Bia
Ash
Thursday
Oct. 14.
>4
A
2
6
)-4
0
LI
sates ot
the
Weelc
Shares.
STOC KS
NEW YORK STOCK
EXCHANGE
Rant'. 4:71^e Jan. 1 1909
On basis 01 1011-Mare lots
Lowest
litqlust
Railroad s
139,700 A tch Topeka & SantaFe
800 La. Do pref
900 Atlantic Coast Lino RR
15,100 ValtImore & Ohlo
100 1, Do prof
17,060 Brooklyn Rapid Transit_
7,900 elanadian PacIllc
kJanada Southern
Central of New Jersey
69,900 Chesapeake & 011(0
2,700 Chl)
ico
ago
pr&
er Alton R It_ _ _
140 140 14013 873,
AN
Banks
tiid
Ask
Oh.lseaEx Il 20:.
New Yor'z
Chemical __ 430
445
175
186 Citizens' CO 1571: 16212
Aatna
535 City
575
America II
4'20
425
255 Coal & Iron 140
Am zr Exch. '248
154
Bat;et y Plc
130
---- Colonial II
300
____
__ Columbia 11.. 3/5
Boweiy 't - 476
425
---- Commerce . 1197
Bronx Bora 300
.....
Bryant Pk I 155
165 Copper
275
150 Corn Ex IL- 330
Butch & Dr 140
335
176
Century II_ 170
East River. 125
135
300
...._ Hdellty IL_ 165
Chase
175
Chatham _
335
350 Fifth Ave11 425i)
____
S Hid and asiceo priezs; no sales wore made on ttu
Salo at Stock Exchange or at auction this week.
Friday
00. 15.
Itanne tor l'rettou,
Year (1908).
LOW6-41.
o
Fen
9778 Jaa 13 12533 Oct 2
I0014 Jan 20 10634 4 ale 2,,
8338 Feb
5912 Mel
10713 Jaa 14 14313 Aug 12
10312 Feb 23 12214 J'iy 2,,
1612 Feb
92 Feb 506 Apr 12
80 Jan
3714 Feb
67 Jan 0 8273 Joe 7
2165 Men 3 1893 Oct 5 144 Feb
6014 Jan il 0934 Aug 21
54 Mel.
215 Feb 23 32312 Sep 18 160 Feb
555 Jan b
90 Oct 8
'2512 Feb
7434 Apr 1
57-73 Feb 24
10 Feb
,e
t eph 5'0
alch
1861122 s
4 7
7
F
Aeubg 2
::0
1,200 Chic G Wes ctfs dep 20 pd 7
213 Feb
h81
Do 4% deben ctfs deo_
3313 Mch
Do" pref "A" etis dep. 27 Aug 16 3534 Aug80
1512 Feb
1,090
Do pref "B"ctfs 2d pd. 721314 Aug23 LI Sep 22
5 Feb
72,300 Chicago Mllw & St Paul_ 141 Feb 23 10518 Sep 18 10312 Jan
1,900
Do pref
1581.aleti15 1s1 Aug '6 138 Jan
1,950 Chicago & North Western 1/318 Feb 24 10812 Aug 1S 13512 Jan
Do pref
4.208 141ch 1.8 5230 Aug 1/ 4185 Jan
Chic St P Mlnn & Omaha 148 Apr 22 167 Aug 1:, 114 Feb
Do pref
1661: Jan 30 5180 J'ly 27 14013 Jan
Chic Un Trac ctfs strum'
4 J'ly Ii
53 Apr
7 Jan 4
100
1)o pref ctfs stmpci
12 J'ly 12 1814 Jan 27
4 Apr
2,100 Cleve Cln Chic & St L
1.8 .all 29 7913 Feb lb
4713 J'11,*
Do pref
1(10 can 4 105 Nle1122
8518 Feb
578 Colorado & Southern
5173 Sep 10 6814 Jan 8
'21 Feb
7613.lail 2 86 May 1
1)o 1st preferred
1,775
5018Jan
600
Do 2d prefer:ea
7314 .1art 2 8413 Jan 7
3934 Feb
4,780
16734 Feb 24 200 ,May14
14112 Feb
1)Cil
;
t'
2-'i,rr taciliculls\Ve-si: 535 Feb a 680 Apr 22 4'20 Jan
10,045 Denver & Rio Grande
3758 Jan 6 54 Apr 20
14(4 Feb
1,335
Do pre(
:.914 me).
7912 Jan 6 90 Feb 10
50 Detroit United
56 can 30 7134 Aug13
3213 Apr
NO Duluth So Shore & Atlan
1434 Oct 14 21 Jan lt,
6 Feb
100
120 pref
:.8 Feb 23 3612 Jan 15
1134 Feb
26,200 1.41rie
5634 Joe
, 39
;
.1(.111
ug
e,
7
30
22 :
12 Mei
3,000 Li Do 1st pref
2433 Mch
200
2813 Mehll
Do 2(1 prof
46 Aug 2
16 Mch
25,800 Great Northern prof
13653 Feb 24 16773 Aug 12 11334 Feb
15,600
8812Augn
Iron Ore properties_ _ 05 13'Rh 12
4812 Jan
4 Green Bay & W,deb ctf-1 14 Feb 26 17 Jan 4
a Jan
I I avana Electric
39 Feb 1 7813 Sep 14
20 AM
53(3 Feb 5 00 Sep lb
1 i Do pref
170 Jan
Hock Val J P & M Co rots 97 May 3 126 Aug14
L2 Feb
91
Hocking Valley pref ____
88 Apr 2, 9412 XII,
89 Mch
:1 I
1.1913 14107; 150 1501i 15012 151
2,000 I Illnols Central
131 Feb *4' 16213 Aug 12 12213 Feb
18,606
151.1 1613 16
1
1613 16
nterboro- Metropolitan_
1012
1153 1fch23 19 Jan 5
634Jan
4714 4834 4814 4918 4814 4938 22,100
Do pref
3634 afch23 5233 J'ne28
171s Feb
2712 28
1,700 I.Jwa Central
29
29
2812 29
27 Feb 24 30 Al),' 15
10 Feb
*50
50
51
52
51
5113 2,050
Do pref
48 Sep 9 62 Apr 15
'2713 Feb
228 tz.0 Ft S & My cfs. pre 7434 Feb 2 82 Sep 14
81
38034 8034 8034 8034 *80
51 Aug
4473 4514 4,950 Mansas City Southern
45
4353 4414 44
37 Feb 23 50(4 Aug 18
18 Feb
*7012 7112 71
71
71
71
000
6778 Feb 21 7512 Aug Is
I)o prof
/.6 Feb
*22
2.) *22
25
*22
25
I ake Erie & Western
1912 Feb 25 '291. Aug 2
12 Jan
*52
68
*52
58 *52
60
I)o prof
48 :an 23 647; J'ne14
May
*65
69
*65
08
*65
68
100 lng
Long
,
k
Island
30 Feb
59 :an. 4 7118 May24
14018 15138 15114 15214 15212 153
5,300 Louisville & Nashville_ z121 ,13,0 29 16212 Aug12
8714 Feb
*142 144 *142 144 *142 144
15313
Jan
14014
Aug20
4
120 Jan
i‘11.a
n 1 wtre
ctiarhoaptotiai.rjaE
atgi _ - _
*20
24
*20
24
*20
24
18 J'ly 2 42 Jal 5
15 Feb
6212 53
5234 5234 *5234 53,2 1,000 Minneapolis & St Loul.;_. 51 Sep 16 65 Jan 8
'20 Mch
8686 *85
100
81 ;10119 90 Jan 8
Do prof
61 Feb
13912
141
73(4 ,Jan
1,542 Minn St P & S S Marie- 132(3 'an 2 1491.Jan 8
*150 160 *150 158 *156 160
147 Apr 13 16412 Aug 9 ('231, Feb
Do met
00
90
90
90
19014 9014
050
Do leascd line ctfs
89 J'ly 22 92 Sep 17
1
4453 4534 4434 4014 4513 47 4 222,825 Mo Kansas & Texas
3512 Feb '23 4714 Oct 15
1/12 Mel;
7613 7634 7613 7733 7634 7714 14,700
Do pref
71 Feb 23 7733 Oct 14
46 Feb
6613 6712 6714 68
68
69
7,000 Missouri Pacific
7712 Aug 5
6b Feb 24
2812 Feb
*132 138 *132 138 *132 138
V ash Chatt ec St Louis_ 12212 Jan 5 13912 Aug 12
1(734 Jan
5813 5813 *55
600 11 at Rya of Mex 1st pref
59
*5712 581 2
4412 Apr 5 61. Sep 16
23
2334 2234 2314 2313 2378 3,100
Do 3d pre(
2'113 Aug 16 265,May22
135 13058 13414 13633 13513 13633 98,100 N Y Central & Hudson_ 12013 Feb 34 14,34 Aug1/3
90I Jan
*54
*54
58
58
57
*54
4813 31ch 15 59 d'ne 7
N Y Chic & St Louls____
'2412 Jan
*103 118 *103 118 *103 118
Do 1st pre(
1007614
20 100 Feb 20
90 Jan
*84
500
88
88
*84
88
Do 2d pref
88
Apr
r t 88 Aug17
60 Feb
*170 17113 *17034 17114 *170 17114 1,000 N Y N H & Hartford
15718 Feb 24 17434 .1 '1014 1'28'3,s Jan
46
47
47
4712 4753 48
4,400 N Y Ontario & Western_
4214 Feb 24 5558 .. .1,212
2918 Feb
9513 9578 0558 9614 0618 97
15,600 Norfolk & Western
8414 Jan 6 97 Oct 15
68 Feb
90
100
00
Do adjustment pref_._
8518 Meh26 92,2 J'ly 28
74 atch
11928 15"1" 15034 152
15238 1108 27,650 Northern PacIlic
13314 Feb 24 15913 Aug IS 1168 Jan
*10312 111 *100 111 *100 110
DacilIc Coast Co
76 Meh 3 11114 Oct 7
65 Sep
*103 110 *10212 110 *10213 110
L
100 Mch3u 3104 Sep 28
Do 1st pref
00 May
*10313 115 *106 115 *100 115
Do2(1
c pref
88 M/4127 111 Oct 7
79 Mch
14513 14718 146 14734 14712 1481 2 118,890 Pennsyolv
12618 Feb '43 15114 Sep 29 103434 Jan
05
95
9534 9614 96
2,200 Pittsb Cin Chic & St L
96
8612 Jan 5 9612 Oct /
69 Jan
*__ 117 *____ 117 *____ 116
104 Feb 10 116,4 Sep 21
Do pre(
8113 Mob
16013 10238 16134 164
16412 16613 490,950
118 Feb 23 17333 Sep 21
9218 Feb
*9112 93
*9113 92
Ileallsrrpref
*9113 93
89 aich22 96 Aug23
78 Jan
*99 101
100 100
9912 0912 1,0002d pref
90 Feb 1 10434 may13
76 Jan
3512 3514 3678 3814 3814 41 115,276 Rock Island Company
2078 Feb 24 4238 Aug 12
1012 Feb
7213 74
7414 7514 7534 79
20,000
Do prof
5758 Feb 24 8038 Aug 16
2034 Feb
*69
72
7013 7013 70
71
600 Lit L & San Fr, let pref_
6514 Me1129
13 J'ly 13
42 J'ne
65
56
56
5712 5712 5814 5,300 13 Do 2d pref
3t1 Feb 23 6034 Sep 16
1914 Feb
2834 29
29
2958 2033 31
5,730 St Louis Southwestern
2013 Feb 25 3133 Sep 29
10 Itch
68
6813 6834 6014 68
6812 1,000
Do pref
4712Jaa 6 711. J'Ile 2
2412 Feb
127 129
12858 13014 13013 13138 114,100 Southern Pacific Co
11458 Feb 24 139(3 Aug 1,.
Feb
6614
2814 2913 29
2934 2973 3038 15,700 Southern v tr cis stmpd. 22 Feb 24 34 Aug 11
9I Jan
68
68
69
69
69
1,300
09
1)0 pref
do
60 Jas 6 75 Aug 12
'251, Meh
3412 3578 3558 3558 3512 3618 6,700 pexas & Pacific
30 Feb 24 4013 Aug23
1234 Feb
191. 20
1913 2018 2018 2013 7,450 I. hint Avenue (N Y)
16 J'ly 2 4211 Jan 18
1512 Meh
*873
- 914
9
834 878
300 Toledo Railways & Light
612 Oct
7 May12 1533Jan 2
50
5134 5113 5212 5214 5213 4,800 Toledo St L & Western
43 Feb 25 5414 Apr 19
12 Feb
6734 68
6813 6834 69
Do pret
6934 3,300
6434 Feb 24 7414 Jan 4
33 Feb
*1148 110
109 109 *109 11012
275 Twin City Rapid Transit 97 Jan 2 11113 Oct 1
7814 Feb
20034 20314 20253 20434 20533 20658 475,575 I f nion Pacific
17212 Feb 24 219 Aug 16 11012 Mch
103 10413 10434 10434 10513 10614 6,800 l_JDo prof
x94 Men 1 11812 Aug lo
7914 Apr
*4013 43
42
4213 *41
44
500 Unit Rys Inv't of San Fr 30 Feb 25 47 Sep 13
15 Jan
7234 7234 *71
7114 73
73
1,330
Do pref
5014 Feb '25 77 Sep 14
2712
Jan
1813 1873 1813 1878 1812 19
2,700 Wabash
16 Feb 23 2438 J'ne 15
634 Mch
4614 4712 4714 4814 4818 4834 16,600 VTDo pref
41 Feb 23 6134 J ale 15
13 arch
2114 21
21
21
21
21
1,100 West Md roots 2d pald
21 Oct 9 2314 Oct 1
*9
012
9
9
*9
10
600 Wheeling & Lake Lrle
6 J'ly 13 1273 Jan 4
Cy Aleli
19
19 *17
*17
*17
19
Do 1st prof
1213 Apr
1514 J'ly 13 2573 Jan S
11
*10
11
*10
11
*9
612 J'ly 13
Do 2d pre'
L Feb
1513 Jan 8
*5318 5412 53
5212 5234 1,600 WIsconsaa Central
53
1312 Feb
357$ Jan 6 6373 Apr 24,
*8812 ___ *8813 -- *89
Do prof Trust Co ells
8614 41,1,31 9173 Nfav:0
BAN (8
Hank*
ALh PRICES.
11934 12078 12053 12134 12134 12212
*104 10434 10458 10434 104 10414
134 135 *135 130
136 13612
11512 11614 11573 11612 11653 11712
9412 9412 *94
95
*9414 9434
7773 7873 7814 7834 7812 7918
18412 18512 18512 18614 18634 187
*6812 70
*6812 70 4__. 70
*295 310 4295 310 *295 310
90
8658 8838 88
8014 89
*60
6718 6812 6812 6978
67
7413 4____ 7412 *____ 741.
1353 1418 14
14
14
1414
*5912 64
*5912 65
*5912 65
*30
3314 *30
33
33(4 *30
1853 1834 1834 1014 19
1938
15633 15814 15734 15914 15913 16141
*175 176
17533 177
177 17734
18712 188
188 18812 189 18912
*220 230 *220 230 *218 225
4158 105 *158 165 *158 165
*170 180 *170 180 4170 180
*5
6
*413 534 *434 578
*13
1434 *1213 15
1313 1318
76
76
77
78
*75
75
*10213 105 *10213 105 *10213 110
*52
53
*52
5313 53
53
7814 7912 7813 7913 7913 7913
7814 7814 7814 7814 *78
79
18534 18714 18012 18/
18712 188
*54713 570 *54712 565 *54712 570
4413 4473 4413 4434 4613 48
84
84
*84
8413 85
8534
*6712 6013
*07
/0
70
*67
*1434 1514 1434 1434 15
15
*28
30
*28
2914 2914
30
3413 3434
3312 3373 3312 34
4812 4813 4838 49
49
4914
*3934 42
*4014 42
*3912 42
149 15034 150 15114 15158 152
79
81
8212 8213 83
81
1412 *__ _ 1414 14
14
*
;5; -*a:113
;Ai"
121 12173, 120 12178
*10414 10434 10434 10434
*134 13612 13312 13512
11658 11034 116 11078
95
*94
*9414 95
7812 7834 7734 7878
18378 18412 18414 18514
*6812 70
*6812 70
*295 310 *295 310
8813 8912 87
89
*60
6812 67
6718
*____ 7412 *____ 7412
1312 1312 1353 1358
*59
*591-2 65
64
*30
33
*30
3314
1833 1833 *1838 1834
15734 15834 15038 159
17514 17514 174 17518
*189 191
18712 189
*220 230 *220 230
*158 165 *158 105
*170 180 *170 180
6
534 *5
*5
*13
15
*1312 15
*7513 77
75
7653
*10212 105 *10212 110
52
62
353
53
79
79
8'4
*79
79
7834 *78
*78
18813 18814 18634 188
*54712 575 *54712 570
4533 4512 4414 4512
85
85
8412 85
*____ 6912 369
69
*1514 16
15
1514
*29
3012 *2812 30,2
3414
33
4
333 3418
4853 4934 4812 49
*3934 4034 40
4018
151 15333 14938 15114
8012 81
78
81
*1414 1412 1414 1414
*76
77
*76
77
*____ 122 *115" 122
01
90
15012 15012 14912 151
1514 1512 1514 1612
4738 4734 471.1 4878
*29
2912 2812 29
5112 5178 5134 5134
*81
82
81
81
44
4414 4353 4434
7033 7114 7114 7114
*24
20
*23
26
*52
58
*53
59
*65
68
:518 6518
*15112 15212 149 15112
*142 144 *142 144
24
*20
*20
24
*5412 56
54
54
88
*86
8812 *86
139 139
139 13914
*150 100 *153 160
9034 9034 9012 9012
4234 4314 4314 4453
75
76
75
75
68
6812 6712 6812
4.132 135 *132 135
59
5734 *55
57
2373 2378 2334 2334
13833 13878 13434 139
*52
57
*54
57
*103 118 *103 118
*86
88
87
87
*170 17112 171 17113
4712 48
4612 4734
9534 9038 9513 9673
92
- *90
15134 1-521; 14913 15234
*11013 111
109 109
*103 110 *102 110
*10813 114 *109 115
147 14713 14573 14778
90
96
95
96
*110 117
11712
1631 154
10053 16514
*9134 92
*9134 92
*9912 10014 9913 9918
3058 3718 3578 3714
*74
75
7213 7414
6934 0934
70
*69
5614 57
5512 5612
28
2834 29
2913
6814 6814 6834 6834
12712 13012
12933 130
2953 2978 29
3
6853 6853 68
6814
3434 3434 3412 3614
2118 2118 1853 21
914
*9
10
*9
61
5138 50
5158
6834 00
6858 6878
10913 1091. *10813 110
20313 20418 20113 20478
105 10513 104 10533
41
41
41
41
*70
73
57034 7034
1833 1834 1813 1878
4734 49
4678 4812
21
21
21
21
914 914
9,8 914
*17
20
*17
20
*9
11
*10
11
*53
5413 *53
5413
*89 -___ *8012
Wednesday
Oct. 13
COAIPASI ES-3110KERS"
Ast
SW
Ranks
Bank 7
Bid
300 350 Jefferson II _ 180
Fifth
825 854
First
Liberty__ 555
--. Lincoln ___ 420
14th St II
155
235
Fourth
245
Manhattztn11 340
Gallatin
330
345
Mark'tdsFul '255
Garfield
290 300
Mechanics'_ '260
Germ Am il 140
---- Mereantile _ 18713
Germ'n Ball 450
-- Merch Exch 160
Germania 1i 550
---Merchants'. 168
Greenwich 11 265 '280
Metropolis Ii 400
Hanover
600 620
Metr000rn11 18713
imp & Trad 550 560
Mt MOrrislI. 260
210
Irving N Ex 200
Muttia111-__ 294
day. 3 Ex-Mc-Its
I Lass till 1 100 saa703.
5 First Installment paid. n Sold at private
!Ifni:est
10114 Dec
104 Dec
11112 Dec
117s Dec
9.* Dec
6934 Dec
18013 Nov
68 Nov
Z.? Dec
5913 Dec
6878 Deo
79 Dec
1453 N(A'
6814 Aug
,3 Dec
1713 Nov
15213 Dee
164s, Dec
18512 Dec
224 Dec
160 Dec
174 Dec
718 Dec
18 Dec
7(112 Dec
;973 Dec
50 Dec
79 Dec
to .Dec
.,813e Dec
:75 Nov
4013 Dec
8314 Dec
oU Nov
7874 Nov
3334 Nov
35 Nov
5133 Dec
41 Dec
14814 Dec
75i3 Nov
572 Dec
40 Dec
84 Dec
10412Dec
4.3 Dec
14934 Nov
20 Dec
4012 Dec
3213 Dec
57 Dec
75'2 Dec
4238 Dec
7218 Dec
'26 Dec
58 Deo
5638 Dec
125s, Deo
15,34 Dec
441', Dec
5431i Dec
90 Dec
Nov
13
j5112 Dec
431. Dec
7512 Dec
6712 Dec
122 Nov
1'20 DeC
5712 Dec
105 -soy
86 Dec
161 Nov
4778 Dec
8614 Nov
88 Deo
15734 Nov
9312 Jan
90 May
97 Jan
13214 Dec
6812 Dec
11/854 o v
14314 Dec
92 Dee
4,9 Dec
2514 Dec
6258 Deo
69 Dec
4214 Dec
24 Dec
5573 Dec
12212 Dec
2714 Dec
6312 Dec
3714 Dec
47 Aug
1512 Dec
50 Deo
7313 Dec
9638 Dec
18478 Nov
98 Nov
40 Dec
5915 Dec
2015 Dec
6234 Dec
13 Dec
2614 Dec
151, Nov
3814 Dec
QUOTATIONS
ma
Ask
Ask
Banks
Lao
Ask*
Banks
190
Nassau ¶-- 215
.... Prod Bich 11 17212 1824
....... New Neth'd 200
220
14211
Reserve- _ 135
New YorkCo 750
435
___ Seaboard _ 350
375
350
New York _ 32712 33712 Second --_ 375
--.
263
N'ht &Dayll 225
235
Sherman .._ 135
---265 19th Ward.. -- 420
State 11......,_ 00
-a....
19212 Northern
-180
115 12th Ward_ ____ Pacific I1___ 230
240 23d Ward 1 100
-17212 Park
45) 406
Union Exo
18712 196
410 People's 11.... '280
Nash H %a 1 270
295
-...
195 Phenix
180
500
.......
185
Vest Side
-. Plaza 11
Yorkville I 500
1210
626
......
310
11 State oatr-cs. 3 Ex-dividend and rights. b New 1(00
sale a".; this price.
--105
[VOL Lxxxix.
.New 1ark StocK itecora.----Concluded--Page 3
978
STOCKS-HIGHEST AND LOWEST SALE PRICES
Saeurday
Oct. 9
Alonciay
Oct. 11
2'ursday
Oct. 12
Wednesday
Oct. 13
Thursday
Oct. 14
Friday
Oct. 15
Sa/'s o
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
'Canoe sine Jan. 1909
07. basis of 10u-share too.
Lowest
Illohest
Industriai&Misceilaneous
*230
__*230
__ *230
*230
__ k230
__
A dams Express
190
1234 J
Faenb 2
214
)(225 Aug20
1512 1412
400
*1412 1314 *1412 1518
1678 Aug 3
ills.Chalm ers
5114
62/1
*61/2
5112
51
5234
2,500
38 Feb 29 5738 Aug 3
5278 5314 5134 5212
Do pret
65 Feb 26 8918 Aug 12
7788 7918 7838 8034 8118 8212 178,460 Amalgamated Copper
8058 8114 7878 8114
45
45
*4534 4712 4534 457s
95
45
46
46
700 Amer Agricultural Chem_
3312 Jan 5 50 Aug 12
_ _ *100
*100
_ *101 102
__ *100*100
Do pref
9512 Jan 18 103 Aug 3
47 -4714
4714
48 7812 4678 -W4
773
4 4734 48
9,250 American Beet Sugar-. 2014 Jan 13 4912 Aug 2
*95
98
*95
98
*95
98
.02 J'n I 94 Oct 4
*95
98
*95
98
Do pret
1418 May21
12
1238 1218 1218 1214 1238 5,150 American Can
1214 1238 1218 1212
712 Feb 23
8212
81
8238 81
81
82
*81
8212 8234 8234 2,200
7112 Feb 23 86 Inc 4
Do pref
6712 6834 6918 71
6912 68
6912
69
28,400 American Car & Foundry 4414 Feb 24 '72 Oct 15
7012 72
11812 11812 *11812 11878 11834 11878
11878 11878 *11812 119
600
10712 Feb 23 12434 Aug 3
Do pret
73
7312 74
7412 7434 7312 7478
4218 Jan 5 7712 Aug 9
7434 7414 748 6,050 American Cotton Oil
104 104 *103 107 *10314 107
*104 107 *104 107
200
Do pret
98 Jan 7 10614 Ntayll
*220 245 *220 245 8242 242
*222 245 *222 245
150 American Express
3205 Feb 5 5142 Oct 15
5 10 Sep 3
Faenb 28
812 823
850 American Hide & Leather
187
614
23
812 812 8878 878
*834 9
834 9
47
47
4612 4612 1,400
*4612 48
*4714 4814 4714 4712
34 Feb 24 5178 Aug 3
Do pre(
*25
24
2712 2434 25
24
*2414 28
2378 26
1,600 American Ice Securities
4214 Apr 13
1618
16
16
16
*1618 17
1718
*1534 1631 *16
700 American Linseed
12 Feb 25 20 J'ne 14
4112 4112
42
84034 4112 4178 42
4312 4312
42
900
Do pref
29 Jan 12 4734 J'ne 19
5712 5812 5812 5938 60
6018 5,200 American Locomotive
5812 5914 5712 5912
40 Feb 23 6914 Aug 4
115 115
*115 116
8115 115 1115 115 *115 116
180
Do pret
10914 Feb 24 122 Aug 4
*812 912 *8/2 912
1112 J'ne 1
9
9
t.2
9
*8
9
100 American Malt Ccrp
512 JJ
:
*8
ilny 16
7
5334 5512
59 Sep 20
52
54
*5512 56
5314 5312 54
Do pref_..
5412 3,600
3
923
8 Aug 27
91
9114
4
*903
800
9138 9138 91
Smelters
gee
nret
B
90
1
$0
Jan
Amer
4
90
3
4
4
0034 903
9614 9712 74,150 Amer Smelting& Refining 7734 Feb 24 10478 Aug 12
9678 9712 9478 98
9334 9538 9412 96
*11112 11218 11112 112
11112 112
11112 11112 112 112
1,400
2
12
05
1 Jm
aenb 0
2 11634 Aug 6
Do prof
280 Aug 5
*250 300 *250 300
*250 300 *250 300 *250 300
American Snuff
105 may22
*10012 104 *10012 110
101 101 *10012 104
200
95
*10012 110
3478 F
ikl .h
b
Do pret
6314 Aug '1
46012 6012 59/2 60
5834 5988 60
6012 61
6134 1,837 Amer Steel Found (flew),
24
132 132
13018 131
12912 13012 *13012 13112 13212 134
3,900 American Sugar Refining 121 J'ne 17 13638 Sep 24
*126 129 *126 129
120 J'ne 16 131 Apr *4
*124 127 *125 129 *126 130
Do pref
14134 14214 142 14212 23,250 American Teleph & Teleg 125 Feb 1 14518 Sep 29
14212 14234 14134 143
14112 142
10014 10014 99 100
99
9914 9912 10014 100 10012 3,530 American Tobac (new).131 9012 Feb 6 104 ma.'.1.1
26 Feb 4 4012 Aug 27
36
36
2,200 American Woolen
3512 37
36
38
3818 3858 3818 38.14
103 103
9334 Jan ; 10714 J'ne 14
*10312 104 *103 10414
103 10318 103 103
900
Do pref
4558 4614 4514 47
8,650 ;A nacondaCopper Par$25 $3734 Feb 26 852 May 8
4618 4638 46
4678
4714 48
105 Apr 2 114 J'ne 25
___ ____ *10712 ---- *10712 ---ssoc Merch 1st pref
---- ---- ---- ---10112 Feb 17 10412 Feb 10
Do 2d pref
153
278
4 Jan
m eb 20
9 8512 J'ne 30
8 --4- -1- ---555 dBatoptlas Mining Par$20 8
-7
14- -71; -418 -71.741-8 --4-38 --414 --4-14
3414 2,800 D ethlehem Steel
3614 Sep 21
33
3312 3312 34
33
33
33
33
3334
6912 Sep 3
6812
29
6812 *63
*63
pref
47
Feb
*63
68 *,...„. 6712 *66
Do
6712
*142 145 *14212 145 *14212 145
118 Jan 28 15112 Sep 1
*14312 145 *143 145
Brooklyn Union Gas
*18
20
1834 1934 1914 1958 1,220 Brunswick Dock & C Imp 13 Jan 13 2118 Oct 4
*1918 1934 19
1914
yl
3112 32
32
*30
32
30
30
400 Buttertck Co
32
*30
*30
'2378 Jan 2 3478
4778 4834 4634 4878 4714 4834 75,350 lentral Leather
2512 Mch 2 5134 Oct 7
4934 503F 4718 5058
110 110
320 k, Do pref
10914 10914 3110 110
Aepbr 2:54 ill Sep 2
9
29
034 F
*10934 11014 10912 10912
4832 Aug
4518 4534 8,950 Colorado Fuel & Iron
4334 4418 4312 4434
44
4412 4412 45
2138 Feb 23 81 Sep 1.9
900 Col & Hock Coal & Iron_
7912 80
7912 7912
7912 7912 7912 8012 8012 8012
_
35e. 36e.
. 1,400 Comstock Tunnel_Par $2 21e Apr 24 370 Oct 7
. 30c. 32c. _
1.
411-2 172-58 142 14234 14314 14
2 141 14312
Via- 1-4-31--4
7,050 Consolidated Gas (N Y). 11412 Feb 4 16514 an 4
2214 4,200 Corn Products Refining
2134 22
2178 2214 2178 22
1612 Feb 24 '2612 J'ne '2
22
22
22
8414 8434 84
8414 84
7314 Feb 24 9312 Joe 1
85
85
8434 8478
84
1,700
Do pret
*58
62
62 *58
*58
62
45 Jan 5 01 May25
62
*58
82
*58
Crex Carpet
3414 35
*35
36
3613 3514 36
36
3558 3558 2,200 Distillers Securities Corp 3212 Feb 23 4112 Jan 25
80
77
77
72
72 *____ 80
300 Federal Mining & Smelt'g 55 Mch 2 9512 Mayll
81
80
*80
20
4 94 Aug 11
38
40
5 F
meebb2
*8614 89
87
87
87
350
*8758 00
87
Do pref
*8758 90
851 J'ly 12
Federal Sugar Ref of N Y
ii-95 Aug 3
;65"
ig"
(90
Jan
;55
Fipret
;55'
Do
8
-;55tii;55- -9163 163
15018 Feb 23 17234 Aug 12
161 163
16318 16412 4,740 General Electric
162 163
16313 164
91 Mch 12 110 Jan 4
*93
98 *__- 100
95
97
600 Granby Cons M S & P
*90 100
98
98
95
95
95
9612 *9418 9634 1,400 nt Harvester stk tr ctfs 62 Jan 30 9712 Sep 28
96
*94
9534 *94
124 124
12334 12334 *12334 12414
500
Do pret stk tr ctts
10914 Jan 16 12434 Oct 7
*123 12414 12312 12312
Jan 2
7
300 Int Mer Marine stk tr ars
7
538 J'15/' 9
*614 7
678 678
*614 7
*614 7
2753 Jar. 2
23
2314 23
2378 4,600
Do pret
23
23
2234 2314 23
23
1718 1712 2,500 International Paper
17
1614 17
17
19
83
14
2j
Me
lYh 13
9 1914 Aug 24
1658 1658 1612 1612
600
63
*61
63
4734 Mch18 6934 Aug 3
*62
63
6112 :'218
61
61
*60
Do pref
49
4914 1,725 Internat Steam Pump
3312 Feb 26 5012 Sep 29
4738 4738 4814 49
4712 4712 4714 4712
8
62
912j
Jan
n 30
, 91 Sep 20
90
1,210
89
89
Do pret
89
8812 89
89
8934 8934 89
70 Jan '21 94 Sep 29
9138 9114 9114 9112 9212 2,800 Mackay Companies
91
9134 9134 9034 9178
7714 Sep 23
1,300
78
Do pre
76
76
7512 7512 76
*73
7612 7512 7534
120 Sep 27
9612 Jan
600
ational Biscuit
113 115 *113 11534 11418 11558
11412 11412
*114 116
Sep 21
130
Jan
11
pref
11812
*125
100
Do
*125
12912
125
128
125
12912
*125
*125
12912
1258 Feb 24 23 Sep 20
2012 2038 2112 3,000 Nat Enamel'g do Stamp'g
1958 1934 20
20
20
*1912 21
98
*94
Do pref
82 Jan 5 9912 Sep 2
*94
98
*94
98
*93
98
*94
98
Apr 2
25
1 94 Aug13
10
72
13
144 Feb
8618 8634 87 8712 8812 8378 6,625 National Lead
8813 88'2 8612 8812
11334 Aug 12
500
110 110
Do pref
11018 11012 *110 111
11012 11478 *110 111
*8778 90
80 Feb 23 97 Aug 10
New York Air Brake
88
*8778 90
*87
91
*88
*88/2 91
8712 J'ne
2,000
American
Co,
new
72
79
Jan
13
77
7812
7812
North
76
76
78
7818 7914 77
5,250
aelfle Mall
2913 Feb 24 38 Oct 15
35
3514 3514 3734 3718 38
3514
35
35
35
52
51
55
4,760
51
acific Telep do Teleg
48 Oct 1 64 Oct 4
52
51
85413 66
53
5412
11414 1147A 11412 11514 115 11534 6,200 People's G L & C (Chic)_ 10112 Jan 13 020 Aug 16
11514 11538 11412 115
19
1912 1934 2114 2012 2112 10,200 Pittsburgh Coal Co
10 Apr 21 2412 Aug 21
1914 1934 *19
20
6012 60
61
1,300
60
60
Do pret
340012
23
5 63 Aug 27
60
60
6012 *5912 61
47
4712 4812 8,605 Pressed Steel Car
4578 46
56 Aug
44
Feb
4334 4634 4512 4634
1,045
10414 10412 10412 105 *105 107
Do prof
96 Feb 26 11134 Aug 11
10514 10514 '10514 10514
700 Pullman Company
*189 191 *189 191 *189 191
169 Jan 30 200 Aug 6
19014 19014 190 190
938 J'ly
514
*5
514 *5
700 Quicksilver Mining
434 5
488 434 *412 514
158 Jan 4
600
7
512 532 *6
*558 7
Do pret
3 Meh29 10 May13
*553 7
553 7
Aug 4
4712
48
2,700
5412
4512
4678
45
46
Steel
Spring_
allway
46
46l2 46
47
100
108 108
:
11
)2
7172
8F
M 1)11 2.1
8 109 Aug 11
*10534 108 *10612 109
., Do pref
*10534 108 *10534 108
4734 30,150 Republic Iron & Steel
2
13
343 4912 Sep 29
4534 4714 47
e,b
bbt 22
4738 48
OFe
:
6
38158
2F
$636
17
4534 4614 4518 4634
11014 J'iy 28
10612 10634 2,939
10558 106
Do prof
105 105
*10514 10612 10514 10634
91% Oct 4
3,700 "loss-Sheffield Steel & Ir
9112 9314 9358 94
9014 91
92
92
90
92
__ *119
.
1 1 Do pret
10718 Feb20 120 Sep 1
*119 -,,___ *118
8117___ *117
____
2,700 aTennesseeCopper Par$25
-4
3412 35
$49 Jan 4
34 3
3312 .4
3514 -3
.
512 :1334 15
750 Texas Pacific Land Trust 8012 Feb '23 9378 J'ly 10
*8812 8912 8912 8912
8812 8834 *8812 91
*8812 91
1312 *1212 14
800 I r Ilion Bag & Paper
1538 J'ne 18
:
8
*1212 13
13
13
1212 1258
13
l';'aenp
eb 2
9r1090)4 .s
8114 J'ne 211
76
100 k-7
*75
Do pref
76
*74
76
*74
7512
*74
76
76
11134 Aug 6
*10912 11012 *10912 11012*10912 110
100 United Dry Goods pt ctts
*10934 11312 10934 10934
900 U S Cast I Pipe & ENsundr 2438 Feb29 3512 J'ne 5.
3112 3112 3158 32
31
3134 *3112
86
700
*85
86
85
Do prof
70 Mch 2 8712 Aug 18
8578 *85
8538 8538 8512 8588
95
*88 100
United States Express_ 62 Feb 10 399 Apr 30
*86
95
*86
95
*86
*88
95
82
*8212 8312 8238 8314
8234 8238 8238 8214 8312 2,500 U S Realty & Improvem't 64 Feb 23 87 Sep 17
*11
12
1334 *11
1334 *1012 14
*11
U S Reduction & Relln'g
10 Mch 12 1712 Joel?
14
*11
*29
*29
34
34
Do pret
24 Feb 24 3912 Aug 12
2934 *32
*32
34
34
9,050 United States Rubber
46
4712 46
4734 4734 48
267712
b2
25
4 5758 Aug19
50 *__4813 4012
49
121 12112 121 12112 x120 12012 1,500
Do 1st prof
98 Jan 29 12312 Aug24
121 121
121 121
SO12 Aug 23
650
612 8612 8614 8612 x8412 8412
Do 2d pret
Feb
*87
88 *86
88
8512 8758 8734 9114 9218 9338 1436705 United States Steel
411 14 Feb 23 9473 Oct 4
8634 8778 8534 8878
126 12712 12688 12778 12818 12838 34,253
Do pref
$3018
F
'e
eb 23
,, 131 Oct 4
107 I•
127 12712 12658 128
85112 Aug 12
4614 4612 4634 47
4712 4734 3,100 dUtah Copper_Par $10
47
48
47
4738
5614 J'ne 14
45
4514 4514 4678 4634 4818 16,100 Virginia-Carolina Chem
4512 4614 45
4614
12318 Aug 23
Jan
DX
Do pret
*119 121
12012 12012 *119 123
*118 123 *120 123
2:
19
43 7578 Sep 17
73
30C Virginia Iron Coal & Coke 14
5473 Feb 2
*70
73
70 *70
70
*70
73
69
70
100 I, ells Fargo & Co
300 Jan 5 35614 Oct 9
*355
--- *357
35614 35614 *360 -- - *365 - -64 Feb 24 81% Sep 14
3,121 V estern Union Teleg
7614 7712 7838 -77
77
7614 7..1
7912 7858 79
86
8618 8538 86
8412 85
85
86
8634 8634 4,70( W estingh'seEI 51M fg assen 74 Feb 24 90 Aug 7
110 mch
145 Sep 30
*138 ____*139 141
*139 141
140 140 *140 141
10(
Do 1st pret
-1-41, 15 15
COLUMBUS DAY
*14-.2
N
P
fl
831, *31 3213
67 1.313
Itchge 101
Year 119041
Lowest
Illahest
164 Jan 5200 Aug
163, Dec
Mch
5234 Dec
14 Mch
4518 Feb
888 Nov
35 Nov
13 Jan
781.. Jan
96 Nov
2478 Apr
92 Feb
8134 Dec
65 Jan
4 Feb
1014 Nov
99 Jan
767s Nov
2512 Feb
5034 Dec
8414 Mch 100 Dec
4434 Nov
'2434 Feb
97 Nov
680 Jan
170 Feb 5224 May
812 Dec
234 Feb
8734 Dec
1212 Mch
8178 Aug
1212 Feb
1712 Dec
Mch
3614 Dec
17 Mc)
3138 Feb
59% Aug
8512 Jan 113 Dec
85,-; Sep
M eh
21 Jan
5 18 Scl>
8418 Aug
70 Jan
5512 Feb 107 Aug
8734 Feb 11033 Aug
189 Aug 200 Apr
Mch
9712 Sep
41 Nov
28 Sep
9834 Jan 13734 Aug
105 Feb 131 Nov
101 Jan 13258 Nov
7212 Jan
9712 XIV
3238 Dec
1512 Feb
7814 Feb
97 Nov
5312 Nov
82712 Feb
5212 Jan
12 Jan
35 Apr
r85 Feb
6 Jan
510 Feb
1512 Feb
7534 Jan
1558 Feb
1434 Mch
20o Mch
96 Jan
1034 Feb
56 Jan
4712 Oct
'2714 Feb
7212 Nov
69 Feb
55 J'ly
7312 Feb
111 Jan
7834 Jan
52 J'ne
99 J'ne
6 Oct
16 Feb
8 Apr
47 Oct
13 Jan
65 Jan
52 Feb
5978 Feb
68 Jan
102 Jan
712 Feb
570 Feb
86 Feb
8712 Jan
60 Jan
4218 Mch
24 Apr
$5 Mch
2714 Nov
67 Nov
15214 Nov
17 Nov
325 Jan
83 Dec
102 Dec
42 Dec
2712 Dec
44e Apr
167 Deo
2012 Aug
80 Aug
4514 Oct
'8834 Deo
94 Aug
89 Nov
6812 2130
100 J'ly
16234 Dec
10912 J'ly
6752 Nov
11014 Nov
9 May
2678 Dec
1314 Nov
65 Jan
3972 Dec
8414 Dec
78 Nov
7134 Nov
97 Dec
12012 Dec
1514 Dec
38214 Deo
112 Aug
10614 Nov
98 Nov
78 Nov
4014 Dec
60 Jan
812 Mch
3612 Feb
1714 Feb
69 Jan
147 Jan
12 Apr
112 Jan
2334 Feb
75 Jan
1434 Feb
63 J'ne
36 Jan
8712 Jan
$2512 Feb
45 Feb
4 Feb
4473 Jan
,0(02 Dee
1458 Dec
50 Dec
45 Dec
10214 Dec
174 Nov
184 Dec
812 Dec
4914 Dec
103 Dec
29 Nov
8912 Nov
8134 Nov
11014 Dec
$5214 Nov
8412 Dec
95z, Nov
663.1 Nov
4712 Feb
,058 Jan
40 Feb
3614 Feb
4 Feb
16 Feb
1734 Feb
76 Feb
42 Feb
2534 Jan
0712 Jan
.20 Jan
16 Feb
387 Jan
43 Jan
1250 Feb
41 Feb
38 Mch
5s Arm,
3078 Dec
7878 Aug
90 Jan
64 Nov
1514 Aug
39 Aug
3712 Aug
108 Dec
7512 Nov
5834 Nov
11458 Nov
$5234 Nov
4534 Dec
116 Nov
(38 Nov
325 Nov
7134 Nov
94 Nov
125 Nov
BANKS AN!) TRUS I: CO MPANI NS-BANK FAS' QUOTATIONS
Ask
444
Ask
I rust Co's Bla
I rust Co's lild
frust Co's Eict
Trust Co's 8/4 Ask
Banks
NV Lltedar 1100 1125
Guar'ty Tr_ 680 700
Brooklyn
N Y City
Brooklyn
____
100
....
Trust_
070
TT
\I
Y
420
105
90
Guardian
Borough 11_
iirooklyn Tr 410
--Carnclee --(180
425
Hudson __- 175
Central To. 1000 1025
---- Standard Ti 370
--.. Citizens' __ 138
146
Broadway 1 :175
226
KnIckerb'ki 340 355
ritleGued TI 520 534
Brooklyn t_ ___ 145
Columbia... 290 300
Flatbush __ 200
220
Ani
of
350
235
245
rr
Co
360
280
____
145
Commercial 135
Franklin __ 210
First
Latv T I &Tr
275
convwealth ....... 155
170
Union Trust 1250 1300
130
HIlislciel,__ 110
Lincoln Tr_ 165
Hamilton.. 265
390
104
-370
US !kite &Ti 435
125
445
Home Bk 11_ 110
Kmplre ... 300 310
Manhattan
Home
725 750
Unit States. (1250 __ - _ Kings Co
590
480
Homcsteadl 100
125
Mercantile
Trust Co's
hlq ult'ly o Ti 470
Van Norden 235
930
Manufac'rs 4 lo
N I, CM'
--_- Metropol'tn 530 550
Farm Lode!' 1650
250
1, Isl L & Ti 310 316
pdeuty __ _ 203
525
206
Washington 475
254
325 340
4.stor
Murton l'r_ 500
410
Vassau
150
170
Mechanical 235
- Fifth Ay Tr 400
415
Mutual ___ 130
--- Westehestei 130
____ t)cople's -- 290
m-cintauk _ 1,
0
155
Bankers' Tr 5540
575
120
13-0 :_70
Wway 'ft
Queens Co
133
148
Windsor __ 133
156
140
Fulton --- 270
Nassau.... 240
---- Slut All'nci. l'.0
100
WIlilamSb'lt 80
305
Nat City- - 295
* ukt and aske.a
aa 08,33 on Lids day. 4 Less ttitn 100 snares. I Ex-r 15at9. 0 SOW stock. c itlx-illy. and rlgitt,s. d Now quoted dollars per sile.re.
1 Sale a'; Stack Exotianse or at auction this week. 3 Trust co. certificates. 11 Banks marked with a paragraph Oil arc State banks.
Hid
Ask
B14 Ask
Banks
Brooklyn
North Side 1I 150
---Peopli's-... 155
_
FrosP'ctFkl 150
160
l'erminal 11
--- 130
___.
laionll___. (102
New York Stock Exchange-Bond Record, Friday, Weekly and Yearly .
Jan.
1 1909. the 141vetange method of guotino bonds was c
- hanged. aria vrices are now al'..---"and interesl"-rxeept for Laconic an 1 defateted bonds.
BOND:,
N. Y. STOOK ILXCHANGE
WERK ENDINA OCT 16
Pence
42*/
U.
uioverllllleta
11 S 20 consul registered.a1930 -J
U 228 consol coupon...41930
k191t•
S 3s registered
k1918 4-F
U S 38 coupon
U S 36 con small bonds k11.11/ Q-F
1925
U S 4s registered
1925
U 8 4s coupon
US Pan Can 10-30 yr 2s.k1936 Q•N
Foreign Cloverimient
Argentine-Internal68 of 1909
lmpernii Japanese Governur I
1925
Sterling loan 41
/
2s
1926
2,1 series 4,
2s
1931
Sterling loan 4s
Repub of Cuba Is exten debt..
San Paulo(Brazil)5s tr rects'111
U S ot Mexico e I g Cis of 18911
1964
Gold 4s of 1904
Pridoti
Oct 15
Week's
Range or
Last Sale
Bta
Alit Low
10058101
1008
Range
Since
January
Birth So Low
10038 0
100%1011
/
2 1001
/
4 Oct '09 ....
1011
/
21011
/
2 1011
/
2 Sep '014 ....
1011
/
21021
/
2 1011
/
2 Sep 'Oa ....
1001
/
4 Nov'08
1161
/
21171
/
2 11638 11638 13
1171
/
2
1 17/
1
2 Oct '02 ....
1001
/
2101 101 Mar'09
/
2 9634 96
M.8 t 951
96
39 03
107
95
99
110 Nov'08
10.5 luDee'04
100 Sale 9934 1001
/
4 116
100 Sale 100
100
62
10838 Sale 10814 1091
/
2 49
10473 Sep '09
108% Sale 10/38 10938 13
10478
10434 Sep
'09-5
.
6
8912100 woe Look,
11338 J'ne'09
101
10214 Jan '01)
95¼..._ 9534 Feb'09 ....
911
/
4 V. 03 Aug'09 ....
44
47
45
5
45
Railroad
A lisoania Cent See So By
A.laba N liii See At Coast Lin
Albany & Sus° See Del&kim
Auegueny Valley See Penn Rit
Alleg & West See Buil if & P
84
84 Oct'OP
Ann Arbor 1st g 4s
41995 14-J
&telt T4:3 S Fe-Gen g 44.11195 4.0 10038 Sale 10018 1008 135
/
2 1011
1001
Registered
1995 A-0
/
4 Oct '09
941
/
2 96
'd
95
Adjustment g48..41995 Nov
95
Registered
5314 921
41095 Nov
/
4 Feb'09
is
,
/
2 941
95
Stamped
/
4 U•4%
41995 M.14 041
1117 Sale 122 Sep 'Of)
Sub recta (full paid)cony 4s
/
4 121134 Ifo
Cony g 48
1055 5:71; 12034 Sale 1181
10-year cony g 5s
1917 2-It 120.4 Sale 11834 12014 464
9978 Sep'09
Debentures 48 Seriesii 1919 F -A
98
90
98 Lj
Series K..
1913 F -A
'OY .•-•
971
/
4 97 Sep '0:East Okla Div 1st g 48 1928 M- S
94.4 941
/
4
94ie Os
196/ 1-2
Short We 1st 43 g
111 1101
/
2Sep'09
be Pram & Ph 1st g 58 1942 31-S
AU Kriel& N See 145: N
9534 is
S 95% Sale 95%
Atlantic Coast 1st g 413.41952
1011 Sep'09
Ain M'al 1st gu gold 56 1928 31-N 109
96
9614 J'ne'01. ...•
Brunt& W 1st gu g 4s 1931 J -J
°haslet,& Say 1st g 7s 1936 J -J 132%
90 Sale 90
901
/
4 23
o1952 M.N
:L&Ncollg4s
127 J'ne'01)
•saw b'& W 1st gold 6s..1934 A•0 126
/
4114 1121
/
2.11Y'OD
1934 A-0 1121
1st gold bs
971
/
4
971
/
2J'ne'02
Oca & G gug 48 -1918 J -J
; SU
"Atlantic,& Danv See South Ry
Austin & N W See Sou Pacific
921
/
4 Sale 921
921
/
2 12
/
4
1
2s.1926 J -J
• Dalt al Ohio prior g3/
93 May'09
lt-P Registered
41925
/
4 100
• Gold 48
4194/ A-0 99'4 Salle 991
/
2Oct '09
991
/
2 991
Registered
41941 (.1
,
1
120 out '01
Pitts Juno 1st gold 6s...1922 J • J 108
881
/
2 00
89 Oct '01PJun& AI Div 1st g 31
/
231926 M-N
934 Sale 93
931
/
4 413
PLE& W Va Sys ref 481941 M-N
9034 Sale 9034
90%
Southw Div let g 3/
1
2 .1925 J -J
91 Apr'09
Registered
s.-41925 (2-1
/
2
103 J'ne'00
Oen Ohio It 1st o g4,
2s..193u 31-S 1021
113 Oct '09
CI Lor & W con 1st g 5s 1033 A-0
Motion Itiv let gu g 6s..1911/ F-A
10578 Feb'05
Ohio River RR 1st g 68 1936 J.1) 113 114 113 Sep '09
• General gold 58
1937 A-0
110¼ J'ne'09
1191
/
2 Mar'04
Pitts Clev &Tot 1st g Us 1922 A-0 110%
97
Pitts & West 1st g 4s 1917 J -J
98/
1
2sq.'
09
100 Nov'04
Stat Isl Ry 1st gu g 412s 1943 J -D
'Beech Creek See N Y C & H
Bellev & Car See Illinois Cent
Bklyn & Montauk See Long 1
Bruns & West See All Coast L
Buffalo N Y & Erie See Erie
Buffalo it & P gen g 6s 1937 3.1.5 115 116% 116% Ang'01.
1957 M-N1 109%
11018J'ly'09
2s
Consol 4,
1004 Aug'09
All & West 1st g 4s gu 191h-, A-0 100
J -J 115%
103 J'ly'08
58.-1943
g
gu
CI& Mali 1st
1173
4
117% Oct '013
Rook & Pitts 1st g tis 1921 F -A
1201
/
4 1201
/
4 Aug'01.3
1922 J •
Consol 1st g 6s
831
/
2 8934 May'09
Buff & Susq 1st ref g 4s41951 J -J
BurClt&N See 0 B. 1 & P
/
4 105
105
1913 J.J 105 1051
tan So let ext Us
102.4 1021
/
4 Oct'00
1913 .51- 6
k-ad 58
10034 May'07
1913 3A-8 102
Registered
•
Oarb & Shawn See 111 cent
Carolina Cent See Seab Air L
Carthage& Ad Hee N Y & 11
&N
116,
4119'4
1171
/
2 121
101 1011
/
4
94
15 903 9534
F -A I 9378 Sale 9378
931
/
2 92
92% 14b 831
J J
/
4 941
/
2
871
/
2 86.4
J -J
87
6 /034 98%
1
1103
2
10334 10334 1034
M.6 /
10134 10414
3
4
93
94
95
10 192
95
J •J
9•J 1' 97% 981
/
2 9734
9734 10 97410l¼
9314 Sa1
931
/
4
931
/
4
1 921
J -D
/
4 95
T hese are yr ices on the basis 41 $5 to B.
State and City Securities
Dist of Columbia 3•658
1924 F-A
Louisiana new consol 4s 1914 J -J
New York City45 when and as issued.1959 M.N
4% Corporate stock
1958 11•N
Niew 4/
1 957 .11.N
1
4s
New 4,
es
1917 M-N
41
/
2% Corporate Stock _1057 M-N
1917 M-N
41
/
2% assessmt bonds
4% Corporate Stock. 1957 M-N
N Y State-Highway 48 1958 M-8
So Carolina 4'as 20-40
1933 -J
Tenn new settlement 3s 1913 J .J
Virginia fund debt 2-3Fi 1991 J -4
(113 deferred Brown Bros ottri.
Oet1 11 la
high
100%1021
/
4
/
4 103
1001
101 103%
100% 102/
1
2
99341011
/
4
1011 103
1,
3814 11238
104 104%
10838 1121
/
4
104 10434
100 1031
/
4
1.1234 11:3%
102(4102(4
9514 9534
911
/
2 93
371
/
4 48
831
/
2 8734
100 101%
99 1011
/
4
92
951
/
2
/
2
921
/
2 921
921
/
2 951
/
2
/
2 122
1121
/
2
1021
/
2 1'231
10534 123%
991
/
2 9976
9814 981
/
2
99
97
9334 96,
4
1101
/
2113
941
/
2 96%
109 111
961
/
2 96,
4
86
931
/
2
12'r 127
112(4114
97
971
/
4
92.4 95
92
1.3
9914 101%
98 100%
88
03
96
03
91%
90
91
91
103 103
11018 11334
/
2
113 1131
/
4112
1081
8
981
/
2
/
2 117%
1161
/
4
109 1101
100 100,
4
117% 119
/
2
11834 1211
871
/
2 110
105 107
10114103
See BO 11& 1%.
Oen Brancn. Ry See Dio Pao
Cent of Ga RU 1st g 68..p1945
Consol gold 5s
1945
Registered
1945
let pret income g 5s...411045
Stamped
2u prat income g Ds.. .p11.145
2d wet income g 5s ;tamped
3d prer income g
1161
/
2Feb'09
F-A .116%
31-1-1 109% 110 10978 110
113 Apr'06
3141
84 Oct '09
84
Oct
84
84 Sale 84
75
73 Oct '09
Oct
73
74 Oct'09
721
/
2 71 Sep'09
Oct
••••.
Street Hallway
Brooklyn Rap Tr g 6s
1945 4.0
1st refund cony g 4s
2002 J.J
Bk City let con 5s.19113 1941 1-2
131“/Co& S con gug 58 1941 3/1.5
Bklyn Un El 1st g 4.5s 1959 F-A
Stamped guar 4-.5s
1950 F -A
1041) F-A
Kings Co El 1st g 4s
1949 F-A
Stamped guar 4s
-• Nassau Eleo gu g 43.-1951 J -J
23'51 J -J
Conn Ry& List.% ref g 4,
1951 J -J
/
25
Stamped guar 41
28 1932 J -J
Det United 1st con g 4,
Havana Elec consol g 5s 1952 F-A
19513 A-0
/
25
Inter-Met coil 41
Inter Rap T 3.yr cony 93 1911 M.N
1952 M-N
45.year Is Series A
Interuat Trac coil tr 45 1949 -J
Manila Elec 1st .S;,- coil 53 1953 al-
I.15 1161
/
2
4 108(4 111%
71)
80
63
60
53
90%
90
94
84
80
EXCHANGE
WEEK ENDING OCT 15
Cent of Os Itlt-(Con)
3d prof income g 5s stamped.
Chau Div pur mon g 4E3.1951 J•D
Mao & Nor Div lat g 58.1946 .14
Mid Ga & Atl Div 6s. .1947 2-2
Mobile Div let g 6s
1046 J-J
:en RR & Sot Us col g 681937 vl-N
Oent of N J gen'l gold 58.1987 -J
Registered
41987
Am Dock & Imp gu 68..1921 -J
Le & find it gen gnglis 1920 J -J
Leh & Wilks 11 Coal 66..1912 31-N
Con ext guar 41
/
25
g1910 Q-31
N Y& Long Br gen g 4s 1941 m-S
Cent Paella) See So Pacific Co
CentVermont 1st gu 94.s.e11320 Q-F
Chas & Say See Ati Coast Line
Ches & Ohio gold 6s
a1911 4-0
Gen funding & impt 5E3.1929 J-3
1st consol g 56
1939 A-5
Registered
1939 -5
General gold 41
/
2s
1992 VI-S
Registered
1992 31-S
Big Sandy 1st 4s
1941 J-D
Craig Valley 1st g 5a
1940 j-,j
Potts Creek Br 1st 43 1946 .1.-3
lt & A Div lat con g 48 1989 J•J
2d consol g 4s
1989 J -J
Warm Spr Val 1st g 68 1941 M.S
Greenbrier Ry 1stgug 48'40 NI-P1
Chic & Alt RR ref g 3s 1949 4-0
Railway let lien 3las
1950 ..1
Registered
1950 J -J
Ohio Burl& Q-Denv D 48 1922 F-A
Illinois Div 3/
1
2s
1949 J.J
Registered
1949 J -J
Ills Div 4s
1949 J -J
Iowa Div sink fund 5s 1910 4-0
Sinking fund 4s
1919 4-0
Nebraska Extension 48 1927 V1-5
Registered
1927 .5
Southwestern Div 4s
1921 51-S
Joint bonds See Great North
Debenture 58
1913 Vt-N
General 4s
1958 -S
Han & St J os consoll1S-1911 +91.3
el110 80 It Ill ref & imp g 4s 1955 3-2
1st cousol g Us
1934 .0
General consol 1st5s. 1937 51-N
Registered
1937 34-1.1
Ohio & Ind 0 By let 58 1936 41.1
Chicago & Erie See Erie
Ohio In & Lonisv ref 6s 1947 J../
Refunding gold 5s
1947 1-2
Louisv N A & Ch 151 66 1910 J -J
Chic Ind & Sou 50.yr 48 1956 J-J
chic Mil & St 2term g os 11.114 J -J
General g 4s series A..e1989 .1 -.I
Registered
e1989 Q J
General g 3143 series 11 01589 3..1
25-yr deben 4s(w 1)
1934 .1.2
Chic & L su Inv g6s
1921 J -J
Chlo.fe Mo Itiv Div 5s 1926 J -J
Ohio & Pao Div 6s
1910 J -J
Chia & P W lat g 6s
1921 J -J
Dak & Gt So g 60
1916 .14
Far & Sou atom g tls
1924 J -J
Haat & D Div lat 78
1910 J-J
lst 5s
1910 J-J
LaCrosse & D 1st 5s
1910 J -J
Mineral Point Div 5e
1910 J-J
So Minn Div 1st6s
1910 .1-41
Wis & Minn Div g58- 1921 -2
Mil & No 1st Di L 6s
1910 J-D
let consol 6/3
1913 J -D
Chic &Northw cons7s
1915.P.
/./.F
Extension 4s
A
1886.1926
Registered
1886-1926 F-A
General gold 31
/
45
1987 11-N
Registered
p1987 Q-11'
Sinking fund 6s. .1879-1929 4-0
Registered
1879-1929 4-0
Sinking fund 5s. 1879.1929 4-0
Registered
1879.1029 4-0
Debenture Is
1909 if•N
Registered
1900 11-N
Debenture bs
1921 A-0
Registered
1921 A-0
Sinking fund deb 68
1933 M-N
Registered
1933 -14
North Illinois 1st 5s
1910 M-S
Mil L S & West 1st g 63 1921 M-S
Ext & Imp a fund g 58 1929 F -A
Ashland Div 1st g 68 1923 M-S
Mich Div 1st g tis
1924 .1 - J
Incomes
1011 M-14
Ohio Rock Is!& Pao 6s 1917 J •J
Registered
1917 J -4
General gold 4s
1988 J -J
Registered
1088 J -J
Refunding g 48
1934 A-0
Coll trust Seriesli 4.13 191U M-N
J 46
1912 M.N
M.48
1916 191-N
.543
1916 -5
0 4s
1917 M-N
1)48
1918 M-5
Chia 13. I & Pao RR 4s 2002 M-N
Registered
2002 SI 14
Coll trust gold 5s
1913 .11-S
Bur Ced R 43 NorthernCon let & col tr g 5.e 1934 A-0
Registered
1934 A-0
CRIB& NW let gn 58 1921 4-0
M & St L let gu g 74 1927 .1-D
I•J
Bid
MX'S
Range 07
Last Sale
/tango
Since
January
.4aic Lou
o Low High
fitott
/
2 Ang'09
72(4 701
51
80
9038 Sep '09
9038 90%
111478.1 1ne'0/
115 Nov'05
110.4 pi ay'oo
1101
/
4 1101
/
4
105 Sep'0
104 106
1264 129% 97 1261
/
4 i29
12614 Sep '013
125/
1
2 12734:
1081
/
2 1081
/
4
10814 1101
/
4
......
l00' Sep '09
9034 101 .
0104
'J9'4
119% 1001
/
2
89
110
106% 10934
1101
/
2
106
12634 Sale
126
110
101
100
9078 100
100
90,
2 89
Oct'09
/
2
8014 901
102
/
4
102 Sep '011 ...• 1011
/
21031
1041
/
2 salt 1031
/
2 H14% 2,05 1001410114
11334 114.4 114
114,4
4 114 117
/
2Feb'09 •... 1131
113 1141
/
21141
/
2
1031
/
4Sale 403,, 104
103(4 1008
1021
/
2
105 Apr'09
105 105 ,
5912Sep '09
86% 89
8838 91
112 110 Mey'oe. •... 107% 11034'
110 Jan '09
110 .
90
903s 0934 99% Oct '09
99 10014
971
/
4 064 Apr'09
96.4 96141
107
1131
/
4 heli'05
921
/
4 1141
/
2 95 Sep '01
771
/
2 78
78
2 774 80 •J
76's Sale 751
751
/
2
/
2
731
/
2 77
76 Oct'00
75
73
100 100 Uct
991
/
210034
130
9018 90
901
/
4
13 90
23
8434 Dee've
100%1011e 100.8 1011
/
4 33 1.
00 103,
8•
104
1081
/
2 10b..,
10
99
5:84 1
10
06
04
9934 100 100 Oct '01) ..•
•... 99%102'4!
1391410014 101780a
1.01 le Mar'00
1011
/
41011
/
4
9814 u93,5 991
/
2sep '09
119 100%
1011
/
2Sale 1011
/
2 101 78
/
4,
1011
/
21031
90., 109 98 101
9938 Sale 99
/
4 Sep'08
1021
102 10334
86% /61
/
2 bet.'
01/
127
129
129
11[8
19
5
42% 1
119
3
110
7
5444
1121
/
2
/
2Sep '09
1121
114. Aiey'uti
113 114% 1131
/
2115
/
2 J'1,Y'
99 -• 1131
1281
/
2
114
129 Oct'09
127 129
114 Sep '08
1121
/
211478
101% J'iy 'tip
1011
/
2102'4
951
/
2
Ang'08
91%
93% 954 ;
1051
/
4 10414 Sep '()V
104(410514 :
10i/
1
2104%;
1031
/
2 102 Oct '09
Oct
881
/
2 891
/
4 8940ct'09 .... 894 92%
10
134
4% Hale 1903371'8
t
94
7
4 79
108 109(4109% AlsY'319 . 10
99
3374
8 10
i39
534
110%
Ill
111
1 Ill 113,
8;
10
0
0 1014 10114 J'ne'01, . H/14 101% :
:
108%10914 1081
/
2 1081
/
2 1 1081
/
41101
/
2
1
1.3
04
73
%1
8 Aryg:u
0:
9,
104%105% :
1201/2
101 Ang'08
Fa.. I023.8. i
991
/
2
101 Mar'013
101 101
107 10838 107 Ang'08
107 107
100
100/
1
4 100
2b 1001
/
4 10134 s
100 101 1001
/
4 Oct '4)
10014 102 .
198 109% 10104 Aug'/11
1013(4 110' 1
10034 101% 101% J'ly 09
1014 1017 :
106
10734 J'ne'09
107%1073, ;
1121
/
2114 113
1131
/
2 Ii 113 1164:
19
00 10
620
164
3 10078
uilOct '01)
10038 102 '
19
00
044 J'Iyk ...2..i 9
5934
8 101
1)4 34
9318 Apr'011
111112 Aug'01-1
38 1il%
111011081'81/219
1984 Oct WU
108%
11034 Jan'09
10014 J'ne'09
100% May'0
tot
IOU 10838 1074 Sep'09
103 J'ne'07
I12%;3ale 1125 112%
1131
/
4 93%
112 112
2 /004
3 104)% •
108 11018
1104 11034
10014 101
10
10
8% 11
00:
, .
107 11101
/
4
2 111
Apr'09
As
'
eu
ip
Yg
1119
3% 10
0
1138
9
1 j
119
217
9
04
4
01
1131
/
2
101. 1011
/
4.
112
113 115 ;
1421
/
2.b'eu'02
121,4
12318 Apr'09 .... 12234 123(4:
102
1031
/
2 blity'UtO .... [(331410314 :
1121
/
4
113 Sep '01) .... 113 1141
/
2:
112
. 1131
/
2Aug'Ob .... 1131
/
21131
/
2
99/
1
21sale 991
/
2
916/
1
2 26 98 101¼:
98
911 Ang'0999 1001
/
4
UU it sal8 90
90.4 .
94
.sUk: 90
98
97 J'ly'04
97 4
97 J'ne'09 .... 1.17
97
9478
9478 Aug'09 .... 941
/
2 9478:
941
/
4
U41
/
2
941
/
2 .". 9334 941
/
2'
931
/
2
031
/
2Ang'08 .... 931
/
2 95 '
73
5/
%
1
2
342 AuF18' 0,t
96
z' :27i 9
7
98
3/
%
1
4 sa
lt 7
9
8'
3
212
4
80 J'ly'LW80 80
91% Sale 9134
1)2(4:
2-1:4-3 8714 94(4
11214114
1061
/
2
115 May'09
1201
/
21.Jan/9
111 Nov'05
115
117 ,
.111SCELLA Si Et/IJS 110.‘ Os-Continued on Next Page/
2108
106% Sale 105
106% 10 1021
8634 Sale 8638
/
2 991
/
2
87¼ 1021 811
/
2103
103 105 10338J'ly'09 ...j 1021
90
/
2
991
/
2 991
/
2 Mar'09 ..•• 1)914 091
10314103 Oct'00 .•.. 10014106
/
41041
/
4
10214 105 104 Aug'09 ..i 1021
871
/
2
871
/
2J'ly'09 .". 86
87
136114 87
98
8714 Sep '09 ....I 85
80
81
8114 Oct 09 ...I 7814 84
1021
/
4
102 XV'09 • ..I 102 102%
103
10214 J'ly'09 .... 101% 10".4
83
1
2 85
8314 Oct'09 ..... 81 /
91% 92
91 Oct'09
92
80
5338 1 .. 76
831
/
2 Sale 8234
85
10314 Sale 103
103,4 31 103 104%
1024 Sale 1021
/
2 10278 15 102L210378
721
/
4 70 Sep'00 • •. 70
7
'
./
1
2
08 Niav'06 .
Street Railway
Met St Ry gen 001 tr g 58.1997 F-A
78
84
78 Oct '09
2002 -0 481
Ref g 48
/
2. .... 48 3'4'09
Bway& 7th Av 1sto g 5s 1943 J -D
103,
, 104
101
100% 100 J'ne'09
Col& 9th Av 1st gu g 63.11)113 31-S
96
Lex Av & P If 1st gug 581993 11-S
94 Oct'09
Third Ave It lt con gu 4s 2000 J - J .
.
.
. '42
6
(5,
1 ,..?, Oct
6
'
7
1
Cent Tr Co earths stmpd.
Third Ave Ry 1st g 5s...1.937 J -J 106 11 /11
/
2 109
109
N Orl IV & Lt gen 4.-2s ..1935 J-J
86,
4 87
861
/
2 Oct'09
St Jos Ry Lt 11 & P lst g 53
'
37151-N 101
48 Nov'OS
•-:.t. Paul City Cab con g 1;8_1937 J -J
110 1101
/
2 Nov'06
Tn.:City Ry& Lt 1st s f 5s.1923 A-0 97
99 ply'09
99
u ndergrotuui of Lon 58_1920 I-N
98 Apr'09
414s.1433 J.,1
841
/
2 83
83
1948
/
2
Income 63
/
2 321
/
2Sale 321
321
84 Oct '08
Union El(Chic) 1st g 5s 11.345 Ali;
United Rya St L lst g 4E1.1934 J -J
83 Oct'09
84
United Rlts San Fr s f 43.1027 A-0
75
7514
'75
*No pr.ue Friday; latest this week. liFiat. alma Jan a Due Apr 6 Due -.lay g Doe J 118 /1.1)80 .4 '17
Price
Friday
Oct 15
N. Y. STOCK
volle
Aug °Duo out
92
78
43(4 63%
/
2
2 103 1051
100 1021
/
2;
/
2
94 1021
65 18 721
/
2:
33314 7234,
/
2;
6 108 1151
831
/
4 86,
21
1.8
99
98
98
6 731
/
2 85le
7 22
371
/
4
1.1
83
72
10 title A OV 8 option
SO j,
793ti
[VoL. Lxxxix.
New York Bond Record—Continued—Page 2
980
Bt) 1)'
N. Y. STOCK EXc H A NG E
WKEK ENDING OCT 15
:64a:
Price
Friday
Oct 15
Weete's
Range or
Lapt Sale
s
Range
Since
Iaim!ar y 1
h'4.(1,
43/, Low
Nigh No Low 11 tub
Ohio Rock t & Pac—(Gon)
08
102 Aug'08
Choc Ok & U gen g 58 .o1919 J -J 10,
111 ill/
111 111,8
OW1801 gold Gs
1
4Aug'09
1952 M-N
103 105
/
4106 105 Mar'01'
Kook & Des M 1st 5s
1921 A-0 1041
Chic .st 1.4& N 0 See Ill Cent
Ohio St L (fa Pitts See Penn Cc
1271
/
4 130%
Ohio St P B & 0 con 6s 1930 J
12734 128% Oct'00
Cons 6s reduced to 31
93 Dec'Oil
/
48 1931/ -I) 92
1.28,
128%
4 129%
1281
/
4 Sep '09
(31i St P & Minn lstg 68 1913
129% May'01
Nor \Visconsin 1st 68 1930 J.J 128
• 12,02121P%
115%119
116/
1
4 Aug'09
St P & S City 1st g 6s 1919 A-0 1141
/
4
• 112 1121
Chic & West Ind gen g es 91932 Q-31
1121
/
4Apr'09
/
4
2 94
98
94
94
Consol 50.year 4s
94
1952 J. J
Chic & W :Mich see Pere Marq
'Uhoc0&Gulf SeeCRI&P
113 Oct '00
Cin 11 & I) 20 gold 41
/
4s 1937 J -J 101
/
4
Cin D & lat gu g 58 1941 V1-N 105 107% 105% 105% 1) 95 1091
C Find & Ft W 1st gu 43 g.'23 51-N
90
70 Ang'06
88
Cin 1 86 W 1st au g 4s.1953 J -J
901
/
4 Jan'99
/
4 106
* .9111;
Ind Dec & W 1st g 5s 1935 J •J 1031
1071
/
4 Dee'02
......
1st guar gold 5s
1935 J -J
OIStL&C Nee 00 C & St E.
Cin S & u See000Sti.
Clearfield 80 Mali See B B & P
991
/
4
991
/
4 2 97,
9812
4 98%
Clev Cm C& St L gene;4s 1993 J
941
/
4 Aug'01.1
/
4 97
945k
1936
• 1/41
Cairo Div 1st gold 4s
94 Sep el,
94
95
'Cin W & 51 Div 1st g 48 19111 J -J
1 95
95
95
95% 95
11734
St L Div 1st col tr g 48 191)0 M-N
91 Oct '07
Registered
1990 11-N
96
92 Feb'08
Spr & Col Div Ist g 49 1940 11-S
98 Sep'00
93
W W Val Div let g 45r 11140 J -J
106 106
106 Apr'le,
O I St I.& C consul 0s 1920 M•N 105
1/812 98%
98%100
08% Aug'09
1st gold 4s
/c1936 Q.E
Aug'01)
98
981
/
4
98
Registered
Ic11)36 ti•F
1091
/
4Sep '0110384109¼
CBI S& Cl con 1st g 5s..11128 J •J 10915
1111
/
4 1111
111 12.Ply'09
/
4
000& 1 °onset 7S
1914 .1-1) 11)9
COD801 sink tund7s
1914 J -I)
130 Nov'08
General cousol gold Os 1934 J -J 125
Registered
1934 J -J
94 J'ly'08
Ind Bt & W 1st prof 48 1940 A-0
0 Ind & W 1st pf 58...4(1938.
5 921
95
91
113
/
4 96,2
Peo & East 1st con 4s 1940 A-0
581
/
4
681
/
4 6 40
/
4 6834 581
601
/
4
1990 tor
Income 4s
Clev & Marietta See Penu Rhi
°Lev & Pitts See.Penn Co
601
/
4
80,2 Sale 801
/
4
80
1947 J J
87',
Cot blidlanil 1st g 4s
,
973
97% 98
971
/
4
97,
4 09
Coloradi & Sou 1st g 48 1929 F -A
98 Sale 97%
93 96% 1u0'
98
1935 511-14
Relund & ext 4 lus
/
4 1171
/
4
Ft W & Den 1st g 68 1921 J •D 11434 115 11434 11434 12 1141
Cob= Sc Greenv See So Ity
Col Sc Hock Val S'ee Hoek Val
Col & Tot See Hock Val
Col Conn & Term See N & w
Conn& Pas Rive 1st g 48.1943 A •0 100
95 Jan'09
115
1952 J • J
Cuba RR 1st 50-yr 5 g
& St P
I laic & Gt So see
',alias & Waco See M R&d
Del Lack & Western—
1121
/
411234 1131
/
4 Ply'09
1131
/
4 114%
Morris & Essex 1st 7s 1914
/
4 1141
/
4
114/
1
4 117%
1915 J -D 114,2 1154, 1141
1st consol guar 7s
127 J'ne'05
1915 I-I)
Registered
94 Sep '0,.
93% 96,4
2000 J -D
1st ref gli g 31-2s
/
4out'09
/
4 118% 1171
117,
4 121
N Y Lack & W 1st lis 1921 J .J 1171
/
4 110 Sep '00
110 11238
1923 F.A 119 1101
Construction Os
/
4
10034 Aug'09
1111 78 1007k,
1923 M.N 1001
Term & improve 4s
93
10284 Feu'03
1
40 2000 F-A
Warren 1st ret gag 3/
120 122
LIU 120 120 Sep '91.1
Del B Hud 1st Pa Div 78 1917
149 Aug'01
Registered
1917 51-S
/
4 103", 117 1.110 1073,,
11)31
/
4 1021
10-yr cony deb 45
1916 J-D
4 Oct '09 ..•. 101' 103%
1st lien equip g 4,25
1922 J -J 103 103', 103,
101 103
101 101 Oct 'W.)
'1st &ref 45
1943 M-N
22 97 107
Alb & Sus cony 312s
1946 A-0 102 Sale 102
,28
128.,
WV
128
Oct
128
Rens & Saratoga 1st 70 1921 M•N
Del Riv RR Bridge See Pa RR
6 00
981
97
/
4
97 Sale 97
Deny & it Grist con g45 1936 J•J
104 rne'119 - •.• 103 106
11136 J -J 104
Consol gold 4's
101% 104
104 Sep '01)
Improvement gold os 1928 3-1) 102%
941
/
4 62 92% 1.111 12
1)4.* Sale 94
1956 F-A
,lst & refunding 58
08 Feb'08
Rio Or Juno 1st gu g &14 1939 J -D
78 J'ne'09
75
78
80
1940 J -J
Rio gr So 1st gold 4s
85 Mar'08
1940 J -J
Guaranteed
95L Sale 11434
95,
4 22 944 10984
3-3
Rio Or West 1st g
83
83
)• 83
87
/
4
Mge and col trust 4sA.1940 A •0 * 831
97 Jan'02
95
Utah Cent Istgu g 4n a1917 A•0 90
St L
D See M
Des Alw .15
110 Sep '04
Des blot Un By 1st g 66 1917 .0-N
95
95', 3 93
95
Det & Mack 1st lieu g 48 1995 J-1)
92 Ply'011
94
88
1)2
1995 .1-1) 111
Gold 48
Detroit Southern—
80
7034 Sep'09
70
82
72
Ohio Sou Div 1st g 4s 1941
/
4 J'ne'00
1111
1111
/
4 116
Dul & Iron Range 1st 58 1937 A-0 110
/
4 Mar'us
......
1121
/
4 1061
Registered
1937 A-0
20 Os
1916 J -J
Dui Short Line See Nor Pao
110 1101
110 Sep'09
/
4
Dal So Shore & AU g 5s 1931 J -J 110
Vast of Minn See StP & 51
114ast Ten Va & Cis Bee So Ry
1121
/
4 115
115 Sep'09
,
1 1141
/
4
Elgin Jol & East lat g 6)8 1941 A-1
Elm Cort & No See Leh& N Y
9984 M ay'08
1947
Erie 1st ext gold 45
/
4 10635 2 105,2 106%
1
4 101% 0.1131
1919 31-S 105/
20 eat gold Os
104,2 105
105
1923 .1)1-S 105 Sale 105
2s
3d ext gold 4,
/
4
10712 Aug'09 •..• 106 1071
/
4
1920 A-0 1061
4th ext gold Os
97
97
1)7 Jaub0
99,4
1928 J
5th eat gold 4s
121% 1251
/
4
/
4 122 Oct '011 •
1920 51-S 12134 1221
1st come!gold is
122 114
124 124 Aug'01'
11120 \1-S
1st()ousel g tund 7s
91
87 —1-1") 85
86 sale 86
Erie 1st con g 4s prior 1996 J -J
86 12 86
801
/
4 May'06
87
111116 J -J
Registered
/
4 80
75
75% 34 691
75 Sale
let consol gen lien g 4s 1991i J -J
851
/
4 Feb'07 •
73
Registered
1996 3-I
751
/
4 90
831
/
4 85 Sep '08
1951 F
Penn coil tr g 48
83
19 63
8914
/
4Sale 81
1953 A4) 821
60-year cony 4s A
/
4 89
13¼
74
33 571
/
4 Salt
Series B..,1953 A-0 731
do
, ..•. 115 1161
/
4 Angle.
/
4
/
4 1161
Y& Erie 1st 78 1916 I-1) 115 1171
115%117/
1
4
116 115% J'ly 'tn.) •
Ohio & Erie 1st gold 58 1982 M•li
121 Dec'03. •
Clev & Mahon Val g 66 1113a J -J 112'2
1261
/
4 Oct '09 •... i20 1281
/
4
Long Dock consol g Os 1935 A-0 0126
14 J'ne'09 .•.• t12¼ 120
1
41-N
114
Coal& RR let cur gu 63 1922 /
104
4 104 110
/
4 105 104
Dock & luip let our 08 1913 J -J 1031
BOND:8
N. Y. STOCK EXCHANGE
WEEK ENDING OCT 15
1.•
Erie—(Con)
1 Sc Green L gut g 59,1940 A/I.N
NY Sus Sc W 1st ref 5)3 1937 a -.I
2c1 gold 412s
1937 F -A
F-A
General gold 158
Terminal 1st gold 5s 19t Vl-N
Regis 65,000 each 11)43 VI•N
MidltRoINJ lstg 68 1910 A-0
Wilk & Ea ltit gu g 58 1942 I -I)
& Ind Dawn gu g 68 1926 J -J
Erie cfe Pine See Penn Co
Evans & T Ii 18t cons 6s 1921 J -J
1st general gold 5s
1942 A•O
Mt Vernon 1st gold 6E3_1923 A-0
Sall Co Branch 1st g 58.1930 A-0
Price
Fritta4
Oct 15
Weeic's
Range or
Last Sale
Range
Since
Januar?' 1
88
112
UP'
H et' No 1.074
sx Low
108 108
108 Mar'OU
105', 1071
/
4
10134 101 Sep'00
1001
/
4
90
1)2
00 Aug'09
......
1141
/
4 Dec'08
100
103
114
/
4 May'011
1001
/
4 11111
1011
/
4 Oct'09
114
Sale 114
112
100
108
113
1151
/
4 113
/
4 Aug'09
1021
/
4 1031
109 114 A pr'06
96 J'ne'Or
Hid
105
104
101
10514
1091
/
4 115
/
4
2 112 1151
103 1041
/
4
IPItirngt°
&
S'
Pl% e
tc4
i%
I
;
Fla C& Penni See Sea Air Line
105 Mann,
881
/
4
Fort St U D 001st g 41
/
48.1941 J -J
85
86 Sep '06
88
81
88
Ft W Sc Rio Or 1st g 4s 1928 .1 • I
al liar & S A SeeSoP2cCo
97
09
97 3'4'09
•
H & H of 1882 1st 55.191:3 A-0
Georgia & Ala See Sea A Line
Ga Car & Nor See Sea A Line
Georgia Pacific, See So By
Gila V G & Nor See So Pao Ce
Getty & Oswegat See N Y Cent
Grand Rap & Ind See Penn RE
Gray's Pt Term See St L S W
971
/
4 137 91:335 991
96% Sale 06%
/
4
Gt Nor—C 11& Q coil tr 4s 1921 J -J
9634 99
1)7 Oct'00
Registered.h
1921 ,
44 I 97
100%104
1007 J'ne'06
it Paul Ai & Man 2d 08 1909 A-0
140
4 130 132%
1st consol gold Os
1933 J -J 128 133 130
112 Apr'01.
131 131
Registered
1933 J J
1071
/
4 111
108 106 Sep '09
Redneed to gold 4,25 1913 J.J
111834 J'ne'ln,
108% 10834
Registered
11)33 J -J 3013
*101%101,2 101% 101% 4 10135 1(13',
Dakota ext gold 68
1913
0
991
/
4
/
4sale 1191
991
/
4 0 9984101
Mont ext 1st gold 45 1937 J
1001
/
4 Oct '00
Registered
1937 J -D
101,
2J'ly'09
1011
/
4 101 12
/
4
MinnNorDivlat g 481948 A•0 U81
124 5lay'05
Minn Union 1st g 63 1922 J • J 112
/
4Sep '09
/
4 132 1301
Mont C lst ga g 6s
1301
/
4 182%
1937 J • J 1301
Registered
1937 J • J
13314 M ay'06
11484117
/
4
1141
/
4 Oct'08
1st guAr gold Os
1937 J -J 1131
116 11034
115
116 J'ne'vb
Will & SF Dit gold 5s 1938 .1 •
Greenbrier Ry See Ches Sc 0
95
95
Gu.l1&S I 1st ref& t g 5s 51952 J-J
97%
9512 96 Sep'09
an & St Jo SeeCl3&Q
• ousatonic Sea 14 YN kJ &
1041
/
4 11 104 109
Hock Val leteonsol g4128 1999 J • J
10534 104
100,2Sep '08
erw
si
Registered
(
R
)o
eigIstit
1991) J J
9$34 May'(.)9
1)81
/
4 99
/
4
9884 98,1
1st ext g 48 11)48 A-0
in
Fe1.0)9
09
Col Als Tol 1st Os 4s
13984
1955 F- A
iloust E & W Tex See So Pac
!toast& Tex Cen See So Pac Co
104 Apr 09
103%104
Illnoth Central 1st g 40 1951 3-4 104
107% A IA '01
L Registered
1951 J -J 102
88/
1
4 94¼
1)0 Sep '01)
1st gold 31
1951
1103511
/
4s
94 Sep '09
3-4 * 03
94
94
Registered
11:3
/
4Iday'ui
931
1)434
Extended 1st g 31
/
4s
1951 A-0
80 J'ly'09
80
80
1st gold 35 sterling
1951 M-S
10014 1021
/
4
102 102 Sep 'Olt
Coll Trust gold 4s
1952 A•0
91)
99
911 J'ne'01,
A•
Registered
01135 57 981,101',
/
4
M-N
991
/
4 1)984 991
Dit ref 48
90 101%
100 Sep '01)
L N 0& Tex gold 4s —1
59
1153
5 .11-N 101
117 May'07
Registered
1933 11-N
100
102 IOU ApeuU
Cairo Bridge gold 48
1950 J -D
881
/
4 92
* 89', 89% 8812 Oct '01
LoutsvDiv&Term g3/
1
48 1003 J
123 Aui.y'119
Middle Div reg Os
1021 Es-A 105
71)
79
79 Apr'111,
Omaha Div lat g 3s
1001 If-A
791
/
4 Dec'u8
St Louis Div&term g38 1951 J .J
79
Registered
1951 J -J
1 90
9012
90
J-J
90
90
Gold 312s
/
4 Oct '90
J
88% 1011
Registered
100 Nov'uu
Spring Div let g 3.as—:955
1
11 5111 J -J
1001
/
4 10034
Western Lines 1st g 45 1961 F- A 100 1011
/
4 1004 iday'09
121 Feb q)9
121 121
4
Bellev Sc Car 1st Os
1921 I•D 119,
/
4 98
901
/
4 1 961
9615
05
119
Carb Sc Shaw 1st g 4s 1932 (il-8
11834 120
11934 Aug'00
Chic)St L & N 0 g 5s 1951 J-D 11934
118%119
118% J'ne'00
Registered
d
o
eig3
jst
1951 3-fl 117
90
90 Oct'09
110
1951 .1.1)
Dlar'08
............
• 100
blemph Div 18t g 4s-1951 J -D ......
98 Ply
St L Sou 1st gu g 48
1931 -'I-S
Ind BIB West SeeOCC&StL
9812
21 90
98
98
98
00
Ind III Sc Ia let g 4s
1950 J -J
1.01) 112
112 Sep'09
/
4.
Int & Great Nor 1st g 68 1919 M•N 1091
/
4
100% ug'011
2d gold Os
85 1031
HMV 51-S
10484 73 861
/
4 10415
1041
/
4 Side JOS
Trust Co certfs
48
4)3 J'ne'09
50
4'J
3d gold 46
11121
1051
/
4 1111
2 Aug'ul,
/
4 108% 106,
/
4
Iowa Central let gold 68-1938 3-ti 1001
761
/
4 76% 13 7I% 82
761
/
4 77
Gold 4s
1951 21al A 614 G R See 14 s
z•
"Van & Mich bee Tol & 0
KeFtS&M SeeStL &SF
KO&MR& 11 See lit Li% S
Kan & Pacille See M. K &
71% 761
/
4
Kan City Sou 1st gold 38 1950 A
73: 74: 74% Oct'09
63 uot
re.pdt s
Re
liefg_1;tiem
103) A-0
/
4 100% 64 10084101%
100,2 Sale 1001
(vi)Apr 1910
Kentucky Cent see jce N
Keok & Des Mo See
Knoxville & Ohio See So By
J 114 114% 114 Oct'09
ako Erie & W 1st g 5s 1934
11-.) 2.1 gold 5s
1941 J -J 1074 ...... 10714 Oct '01,
North Ohio 1st gu. g 58 1945 A-0
114,4 iii) J'ly '01)
L Sho ea Mich 8 See N 1,7 Cent
Leh VaIN Y 1st gu g 41
107% 108 Sep 'Or
/
48 11)4u I • „I
107 Aug'01'
Registered
11140 .1 • J
971
/
4
971
/
4 -16
Lehigh Val(Pa)cons g 48_2003 .yl-N * 971
/
4
11534 J'Is
115
Leh V Ter By 1st gu g53.19-l1
1091
/
4 Oct '90
1941 A-0 114
10834 Sep '00
Cto
ea
re
l(C
i o 1st gu g 58 1933 J -J 111834
ie
Le
i
hr
96% U6-)., Sep '01'
Leh & N Y 1st guar g 43 1945 M-S
Regiltezi
reti
i at
tao
1943 M•S
1131a Jan'00
guar
6s
1914 A-0 102%
10114 Sel)
1011
..01,4 10114
/
4
Gold
Os
11)14 A•
lnd R See Cent ot1N
91J4
Leh Sc Wilkesb See Centof N J
Leroy & Caney Val See Me P
Lehlk
,u-isetaLLA NEo us BON Os—Coutinued on Next Vage.
thus anti Electric bight
XYGELH&Pg 58..1948 J-D
/
4 1031
/
4 104%
/
4 6 1001
10:1 1031
Purchase money g 48...1949 F-A
/
4 10 83,4 86%
83% sal. 83% 841
Ed El 111 1st cony g Os..1910 M.S
100 100%
10034 100 Sep'09
1993 1-I
ill 12J'Iy'00
110 1)2
1st consol gold Os
97
9812
118/
1
4 May'01.1
/
4 6 100 84101., NY&QE1L&P lstcong 531113u F-A
1011
/
4 Sale 101,4 1011
h 971
/
4
97 11, J'ly '011
100 102
13535 Sep '08
N Y Sc Rich Gas 1st g 68.1921 M-N
100
..
Pat & Pas U. Sc le con g 68.1941) M.S
10434 Nov'05
96 Mar'08
111-1 121
Peo Gas Sc 0 1st con g 68 1943 A-0 119 120 119,2 Sep'01
01 12 Oct'01
Refunding gold Os
103
11 10235 104
101 10734 Deo'00
1947
1021
/
4 1031
/
4 103
/
4
't 103 1041
CliG-LAo Cke 1st gu g 58 11)31 J-3 104 105 104
HA
105
105 J'13"011
101%103
Con G Coot Cli 1st gag 53.136 J -D 102 103 102 Sep 'OJ
Utl 100 100 May'09
8634 94%
N
/
4 Aug'01)
0i1
/
4Sup'09
Ind Nat Gas& Oil 0-yr 58'36
90
941
/
4 941
101%10134
10134 J'ly '01)
51u Fuel Gas 1st gn g 50.1941 1-N 10112
12,1 117¼ Aug'09
'331 1,4 U9/
1
41
90 14 J'lie'09
Syracuse Lighting 1st g 58.'51 I -I.) IOU
88 Sep '08
......
110 M.Y'Ob
b
Trenton 0 Sc El 1st g 58 1941,
1021
/
4104 103 Oct '011
11)234 105
4 100 1011
96 Jan 't)8
S 100
101 Sale 101
101
/
4 Union Rico L& P ist g 58 1932
91
91
1121
/
4 Utica EL L& P lats.(g 58 1950 J -J 103
01 12 91 Oct'09
10242 10211
/
4 Mar'09
Westchester Light'g g 58 1950 J -D 1013,4 105 1021
10835
rItiay; latest old and asked Etna week.a Dde an b Due eu ii Due pr e Due 'lay It Due 'ly IC Due .ufg o Due .jot g Due .000 Option
Gas and Electric Light
Atlanta U 1, Co 1st g 5s...1947 J
Bklyn U Gas 1st con g 58 1945 54-N
Banal° Gas 1st g 58
1947 A-0
Columbus Gas 1st g 5s
11131
J
Detroit City Lias g es
1921 J -J
Co
con
Gas
1st
g
Del
68_1918 F -A
LIS list Goa g58.191$2 ..41Eq
Gas& Elee Berg Co c g 58.1949 J -1)
lir Kap 0 1,Co 1st g fis 11113 F -A
Hudson Co Gas 1st g 53 1949 M-N
Ran City(Alo)Gas 1st g 5s1922 A-0
Rings Co El L& g bs 1937 A•0
Purchase money 68
t097 A-0
Ed El 11 BIM 1st eon g 431039 J -J
Lae Gas Lot ?St L lat g 58.61919
1934 A-0
Ref and ext 1st g 5s.
Milwaukee Gas L 1st 48 1927 M-N
_1948 J-D
Newark Con Gas g 5s
u price
103
107%109: 107% 107%
69 Oct 'OP
08
66
8 1071
/
4 108
60
74
New York Bond Record- - Continudd--Page 3
OCT. 16 1909.1
1111,51)?,
N.Y. STOCK EXCH A No E
ENtuxu OCT 16
c
Price
firidau
Oct .15
Weev's
hange or
Last Sate
Kanwe
Since
Januar-is 1
li1)zS I)
N. Y. STOCK EXCHANGE
WItICK EN13111(4 OCT 15
-
-tvt.
PrtC6
Priday
Oct 15
981
Week's
Range or
Last Sale
o
Range
Since
Jam,aril. 1
Btu.
li Lgit
435 tow
Long Dock See Erie
Low
i Blau & Mau 13011 See L 1
Bits
Low
./1i" No 1.ozo tltq4
11258
11.235 Sep'09
Long IsINI-lst con g 5 k1931
110 112%
17 Cent & II lttvg314s 1997 J..1
911
/
4 91
7 901
91
/
4 94'4
91'4
99At
h11131
1st consol gold 45
88', 9014 901
Registered
J.J
/
4 Sep '09
921
/
4 93%
1997
1/
3171
/
4 99
97% Sep'09
1938 4.1
971
/
4
General gold 435
96
Debau g 48
9535 ,
•. ait. 9538
95% 20 93% 901
1934 M-N
/
4
M-S
101
Apr
1922
1001
'0.
/
4
Ferry gold 41
100 121001
/
4
/
45
Lake Shore coil g 31
S1'
/
1
4 sale 8154
199s F -A
54 8134 851
82
/
4
s
,
1
/
4
1932 J-1) 90
97
Gold is
9914 Oct '06
8014 82
Registered
81 Oct'09
801
/
4 1341
11)11,
' F-A
/
4
1949 M•S
96'4 9754 97%
9734
96 ..9T.
Unified sold 4e
Mich Cent coil g3/
811
/
4 621
/
4 82 Oct 'Ul
/
4 8434
8111
1
4s... 199a F-A
1934
/
4 Dec'Oa
Debenture gold 55
1041
Registered
82
F-A
82/
1
43'ne'09
82
5235
1941) VI- S
99%
971
Guar ref gold 4s...
/
4
1949
118
98
97
Beech Creek let gu g 4.1930 J.J 1001
/
4
1001
/
4 J'ne'01/
100% 100%
Bklyn & Mont let g 6m 1911 M-S 10554
Regietered
-J.J 101
102 Mat'04
1st 58
1018 Dec'Oa
1911 M-S 100
2.1 go gold 5e
J.J 107
N V B&MBletcong551931. A•0 1061
11014 Nov.U6
/
4
Beech Cr Ex t 1 st e 3/
841
/
4
1
4851
11 19915
;1'
3' A-0
N Y& 11 13 let g 5s
1027 U.S 103 108 105 Apr'07
Cart & Ad let gu g 4s 1981 -0
97,
4 Apr'09
9714 971
/
4
Nor Sit Blst con gen.-m/11131
109 Nov'Uti
102%
Gouv & °awe 1st gu g 5a 1942 3-1)
Louisiana & Ark let g 58.1927 m-s
981
/
4 9734 Sep'09
Sloli & Mal 1st gn g 48 1'391 M-S
96
119
99 IOU'
4 1001
/
4 Sep '09
109 1001
/
4
'0.
miss-1)
Niuinv
Oct
1930
117
L
1151411714
N J June R gu let 4s 1986
gen g 65
105 Oct '01
94%
Gold 58
116 Oct'U.
110 117
/
4
1937 m-N 1151
N Y & Harlem g 312s 2000 M-N
UI
/
4 Oct'0,
961
Unified gold 48
9914 Sale 991
/
4 10214
1114» J.J
/
4
9914 24 991
N Y & North let g 58 1927 A-0
. 1121
/
4 1071
/
4 Aug'Oa
J.J
May'09
Registered
9935 100
1941
N Y & Pu 1st con gu g 4s 1993 A-0
1.00 100'-.
Sep '08
100
'ne'Or
105
Sink tund gold 68
191( A•0 100%
Nor 85 Mont lstgxi g 58.1910 A-0
1101
/
4 Sep'09
Coll trust gold 58
11)31 11•N 109
Pine Creek reg guar 053.1932 J.0 124 1301
/
4
10834 1101
/
4 131 Jan '01'
18114 13114
'09
1101
3-0
1
4
1111
/
4 Oct
/
4
E II & Nash lets 6s
1919
11 W&0con 1st ext5a.h1922 A-0 109 110 109,
111 111 /
1 Oct '0).
109 1 tl
1071
/
4 10734
/
4
10714 J'ne'119
L Ciii & Lox cold 41
/
4e 1931 M-1,4 1031
Caw° & R 2(1 gu g 5s...e1915 F-A
1.05, 105 :Ian '0!
193i 3.2 123 126 125 Sep '09
N 0 'Pc M let gold 6s
12454 125%
It W 640 T It let gu g 58.1916 M-N
120 Jan'09
1930 J -J 118
N 0 do M 2d gold de
120 120
Rutland 1st con g 4123 1941 3.3
10415 103 Sep '0,/
4 Aug'06
Pensacola Div gold 6s 11)2U m-s 10(314108 1071
91
Og&I,Chani 1st gu 4s g1948 3.3
93
93% Aug'01•
91
931
/
4
/
4
Bt L Div 1st gold 65
1921 M-S 1141
117 May'07
Rut-Caned let gu g 45.1941. J.J
91,
, 92 J'ne'09 -• 9034 92
68
2(3 gold 35
75
71
198) M-S
71 Mey'011
71
St Law & Athr lst g 33. 1396 .1- 3
t 15 Feb'09
• 115 115
Atl Knox &(Mn div 48 1955 M-N
94 Oct'0194
21 gold de
961
/
4
A-0
149,
'25 Feb'08
......
tl Knox & Nor 1st g 531946 .1 0
116 116 J'ly '00
Utica & Blk ltivgug4s.1922 3.3 101
103,4 Dec't).
Render 1311g13 lets f g 68.1931 1.1-S
110 Jan'09
110 111)
911
Lake Shore gold 31
/
4 1121
/
4 91.4
/
48.-1997 J
914, 13 91
95%
97
Kentucky Cent gold 48 1987 J.J
97,
, 97 Sep '01.
96
98%
J-D
Registered
90
1 90'2 9442
1997
90;
103 Deo'Ub
L&N8a M&M lstg4/
943558.1'. 114%
1
481945 m.s 105 14
Debenture g 4s
20 94.1
95
1926 11.5
/
4
97
88 •9114
90
92
U.134 Sale
L& N-South M joint 48.1962 J .J
M-N
25-year g 43
9014 Oct '01.1
94%
94% 112 93
9714
/
4
11234 113,
11258 1151
N Fla & B let gu. g 58 1937 F-A
,J'ly
4
KaA& G Rletguo5s.
.1
19
93
:1
38 J -3 112,
N&C lidge gen gu g 41281945 J.J 103 104
Mahon 0'1 RR 1st 58..1934 J.J
116 109 Oct'0;
/
4
Pens & All let gu g 65 1921 F.A
109 1091
Pitts & L Erie 2dg bs.a1928 A.()
10914 5 .'01)
L00 May 01'
1
4
& X Ala con gu g 5s 1936 F-A 110 114 11014 Sep '09
11014 115/
Pitts MoK & Vlstgu6s 1932 J.J 127
1301
/
4 Jan '1)11
[301413035
Jell Bdge Co gu g 48 11145 M-S
/
4
951
94
/
4
9405 Oct '01;
2d guar 0a
1934 J.J 1261
L N A & Ch See 01 8,, L
/
4
McKees& B V 1st g 68 1918 J.J 1111
alion Coal See L S & M 8
Mich Cent 1st consol 68 1909 M-S
101 Feb'09
101 101
06
OIL anhattan By()tinsel 48 1990 A-0
081
/
4 98.4 Sep'09
/
4 100
921
58
115
115 115
1931 M.S 115 Sale 115
Registered
19110 A •0
104 Apr'05
112
119 J'ne'00
Registered
1931
- 1,.
/
4 9958 9914 Oct '0.4 10035
Stmpd tax exempt 191)0 A-0 991
4s
/
4 Apr'01)
10035100',
1940 J-1 131134 10U 4 1001
& B V See N V Cent
J -J
106 Nov'Ut.
Registered
M.ex Cent cons g 48
951
/
4 96
1911 .T-J
/
4 Oct'09
831
/
4 961
951
/
4
J L & S 1st g 31
90 rue Ut.
/
4s
9
194
51 M-S
25
let cons int) g 35
27,
, 16 Aug'09
al1139 .1'ly
2414 271.,
1st g 31
91
931
/
4 J'ly'09
/
4s
911
/
4
/
4 931
1952 M-N
2d cons in° g 38 trust roots.
/
4 Apr'09
251
20% 251
/
4
20-year deb 4s
/
4 92% 92%
92%
921
/
4 951
/
4
1024 AO 911
blex Internet let con g 45.1977 71-s
80
80 Ply'09
80
Bat U & Stur lat gu g 33 1989 J -D
Stamped guaranteed .1977
80 Feb'US
Y Ohio & St L let g4s 1937 A-0 1001
/
4 salt, 100
1.00%
100 1021
/
4
Mex North let gold tis....11)10 J -D
1.00114 MaY100
A-0 01/%100 100 Aug'01)
10035 11)1
Registered
100 1001
/
4
Mich Cent See 14 I Cent
111.
Debentures 4s
911
/
4 Sep '01.
9138 94
1937
31 M.N
Mid of N J See Erie
West Shore 1st 4sgtt 2361 3.3 102%
102% 1021
/
4
101 1041
/
4
L S & W See Ohio & N
J.J
Registered
10117
/ 2 100 1031
1001410114 10014
/
4
2361
Ku & North See Cli II & St
N Y & Greenw Lake See Erie
Minn & St L 1st gold 75..1927 3.1) 133
/
4 N I & liar See X Y. C & Huti
/
4 J'ne'011
/
41331
1321
1321
Pacific Exist gold 68_11/21 A•0 10834
118 Jan '0-,
Y Lack & W See D L
W
1013, May'09
10134 10311 N Y 1, E & W See Erie
South West Ex let g 73 1910 2.0
lop 1111
1091
/
4 N Yds Long Br See Cent of NJ
/
4 10918 Ply'09
let consol gold 55
1934
85 Sep'09
84
let and refund gold 4s 19411
8414 87'4 NINIt& ii-Cony 68-1948 J.J 142 Sale 1411
70 13334 146
/
4 143
911
/
4 113
97 ApeUil
Des M & Ft D 1st gu 45...'35 J.J
/
4 Sale 10814 109'2 22 9735111',
Cony deben 31
/
48
1956 J -J 1081
Minn & St L gu See 1101t&N
11815 Deo'0,
Housatonic It con g 58-11337 11-N 1161
/
4
99
991
/
4 995 Oct'09
Str&SSEIcong 4intgu'38 2.3
/
4
1001
99
107 Aug'09
N H & Derby con cy 58.1918
107 107
99 J'Iy'119 - •981
/
4
in)
51 SSE'84 A let g 4 Int gu 1920 J.J
in)
& North S'ee N V C &
&Dun Un See St, I'M &M
96% 98
N YO& W ret 1st g 43..g1992 11971
/
4
971
/
4 4 971
/
4 9934
/
4 99% 100
16 985s10114
Ho Kan 615 Tex let g 4s 1990 J-D 100 1001
1011
/
4 J'ne'Ut,
Regis $5,000 only
y1992 11871
/
4 83
2d gold 48
0.1190 If-A
8734 • 88/
1
4 32 23634 8834 N Y & Put SeeN Ye &
1144 M-N 105%106 105
105
1 104,
1st ext gold 5s
4 101)1
/
4 N Y & R B See Long Island
85 sale
2004 51-S
85
8478
1st c% refund 4s
6" 8338 8735 N Y S& W Sea Erie
68 1)0
91 Sale 908
Gen 8 1 41
1930 J -J
/
45
91
931
/
4 N Y Tex & M See So Pae Co
88 Apr'09
St L Div let ref g 45
/
4
2001 A-0 851
89'l Nor & South 1st g ba
138
101
101
161 104
1941 111-3 100
11-N
105
Dal & Wa let gu g 58 1940
109 4,111ar'Ul1 .
109 14 110
Nor & West gen g 68
/
4 Oct '01,
1261
1261
/
4 128
1931 M-N 12514
Kan C .3/5 Pao let g 4s 1990
03 Apr'01.1.
93
93
Improvem't & ext g 6s 1934 F-A 12535
129 Mar'))))
122 129
lioK&111stgug6s i942 A•O
1131
/
4 113 Oct '01i.
113 1141
/
4
New River 18t g 83
120 12S1
/
4.1'nel0a
127 1281
1.932 A•0
/
4
fd. K & Ok let gu 56
/
4 1071
/
4 107 1.9 1 1071
1942 M-N 107 1071
/
4112
t!i3 W Ity let eon g 45 1990 A-0 99 Salt 99
41 98 1001
in)
/
4
106 106 Sep '09
111 K &TotT IstgugGs 1942 M.S
105 110
Itegi3tered
97 J'ly
97
117
1996 A-0
111 1101
Sher Sh & too let gu g 58 1943 J •
/
4 Apr'011
/
4 13014
1101
11314 sale 93
Div'[ 1st 1& gen g 48 1944 J • J
931
/
4 2i 113
95
Tex & Okla let gu g 5s 1943 11- S
108% 107 Sep 0011
101 111%
/
10-25 year cony 45.-1932 3.1) 1021
4 Sale 1021
/
4 16254 42 931
/
4 1031
/
4
M.N 1121
Ito Pacific 1st con g On
/
4
112
112
6 112 110
/
4 Salt 9u', 91135
901
Pocall C & C joint 48 1941 J -D
8958 93
11101:14102
gold
stainpod
Trust
53
ali)17
10112 1011
/
4 10158
/
4 2 1001
OC&T1st§.-ug53
J.J 105
100 b'eU'Ut,
......
1922
Registered
a1917 11-6
1041
/
4 Feb'07
Solo V & N 15.1st gu g 48 19811
961
/
4 93
/
4
1)61
1161
/
4 5 95'4 118'2
Let ooll gold Os
1920 F- A 1011
/
4 102't 102% 102 15 2a 101 103% North Illinois See Chi & N
10-year gold loan 4s
11)45 M-6
801
/
4 sale
801
0
/
4 30 7834 5514 North Ohio See L Erie & W
3(378 ex td at 4%
11638 41-N
001
/
4 J'ne'09
9534
961
/
4 961
/
4 Nor Pac-Prior lien g 48 1997
/
4 1021
/
4 Salt 1011
/
4 21: 1011
/
4104
J 1011
Cent Br Ry 1st gu g 45 11111) (-A
13414 95
94 Sep '09
95.6
89
Registered
/
4 Sep '09
10134 1021
101 103
1997
Con Branch U P lat g 4E1 1946 J -1, 881
/
4
89 Mar'09
89
91
General lien gold 311....(42047
43
'73 Sale 72%
713
4 75
Leroy 84CVALIstg5s 1026 J -J
110 Mar'05
Registered
1
4t-N'
72
721
/
4 Oct '09
72% 744,%
a2047 /
Pak it of Mo 1st ex g 46.11)3s F-A 10035
100% 100% '2 13954 10038
St Paul-Dal Div g 4s....11996 3.0
Sep Nib
0131
/
4
96
97%
973
4
2t1 extended gold 55 liEd' J.J
116 Sep '0i)
Dul Short L 1st gu 5s..1916 M.S
11214116
StL 1r El& Sgen con g581931 A•0 11)11 Sale 104)
109
1111) 112
B & Llcolltr 45 See Gt Nor
Oen con stamp gtti g 5s 1931 A-0 1081
/
4100% 111 Sep '011 .... 1104 111%
St P & N P gen g 6s....1923 F-A 120 Sale 120
120
120 121
Unified & ref gold 48 1929 J -J
87 sale 87
87% 34 86
111.)/
1
4
Registered certitio's..1923
1111 120 115 May'OU
115 1201
/
4
ti Div 1st g 4s 1933 NI-N
Riv
891
/
4 salt 89
894, 2a 881
/
4 91
St Paul & Dul 1st 66.-1931 15-A 110
1171
/
4 Ply
0/111126
Verdi V 1 & \V 1st g 58
10742 Apr'06
A-0 1041
2(3
104 104%
10435 Sep '09
/
4
&lob J & 8.()1st cons g 58 1963 J -J
98 Dec'06
3.1)
1s
dt
consol
oneol
Sep
112
gold
'01.
93
4a
99
97'2 99
19
96
18
7
Mob & Ohio new gold 65 1927 2-1) 10014
122 14 Aug'011
Wash Cent 1st g 4a
11914125
921
/
4 Jan'09
921
94
/
4 921
1948
/
4
118 117% 117-", 3 117 118
1st extension gold 68../1,11127
Nor Pao'Per Co let g 6s 1933 J.J 1101
1.15 J'ly '01)
/
4
115 1161
/
4
1936 -5 89
General gold 4s
90 Ply'UV
e61
/
4 91
Nor Ey Cal See So Pao
F -A
112 11234 Oct'09
Montgoin Div 1st g
112/
1
4 112% Nor Wis See (.)
P
615 0
75 Elay'us
St L & Cairo coil g 48-01939
...
Nor JO Mont See X Y Cent
1931
1)8 101, Nov'04
Guaranteed g 46
k& W BeeQJO&StL
M & U colt 48 bee Southern
hio ISv RR See Belt 615
Aohawk Mal See X VC&ll
Jre 6,5 Cal See So Pao Co
Monongahela My Bee Li (lb (1
Jre Short Line See (In Pao
Mont Cent See t P
& .11
iswego & Rome See N Y
tiorgatee La & T Bee S P Co
Deo Coast Co 1st g 55
S 1081
/
4112
194t .1) 109 Sale 1031
/
4 109
Morrie Jo Essex See Del L& W
ot Missouri See Mo Pao
ash Chat & St List 76 1913 J -J 109 110 11035 Sep '01.1
110%11214 Penn RR 1st real est g 45 1923 M-N 1021
103 105
Oct
/
4
104
'09
Ii 1st consol gold Sc
112
5 112 11835
192a A.0 110 112% 112
Consol gold 58
M-S
1911)
1091
1091
/
41091
10111
/
4 Jail'
/
4
/
4
01-'
Jasper Branch let g 68-11)23 J -J 117
1161
/
4 May'07
CO11801 gold 45
11143
100
101 1041
101 Sep 'in.
/
4
310E1 M W & Al let 68 1917 J.J
11714 Mar'05
Convertible g 31
/
4s
1912 11-N 103% Salt 103
8» 11714 1061
/
4
& P Branch 1st
113 J'ly'04
1917 32
Convertible g 3',s
J-1)
1(15
98 bale 97%
981
/
4 1118 9454 100
Nash blur & Shot bee
6s...
L45 N
Consul gold 4s
1'348 MN 1041
/
4 43 103,
4 1041
4 105%
/
4 Sale 102,
Nat ity8 of Alex pr 141
9435 86 9278 90
/
48 11)57 I -J
94% Sale 94 14
Ankh; Val gen gu g 48 1942 m.
911 J'uo'u'r
100
Guar gen 48
1. 86
88
89
11177 A.0 88 Sale 87t
D lt
& lige lat gu 4eg.'313 F-A
96
Nat ot melt prior lien 4.58 192u a • J 1005
102 103
102 Ang'09
Phila Hal& W let g 48 1943 11-N 103'4
104 J'ne'09
[0314104
1st consol 43
1951
85
80
83
8484 84 Sep'09
Sod Bay 615 So 1st g bs 11/24 J -J 100
102 Jan '03
New 11 & D See N Y N
&II
U N 3 13,1t 615 Can gen 45 1944 M.
104 1()61
10334 106 1061
/
4 J'ly'09
/
4
NJ Juno RR See X Y Cent.
:1
J."Jk
.11163UELI. kNEOUS DOND*8-Continued on Next[Page
Iron
Butt& Simi Irons!5s....193'2 J-D 9934
100 May'00
98 100
Debenture 58
a 111.:0 1,196
9734
97
9734 rne'09
Cot r .1' t /14,0 }Wit 51 g be..iu4.. r
116
/
4
90 Sep'09
94 1001
Convertible deb g 5s....1111 1' A
'3714 871
/
4.1'iy
87
8714
Col Indu let& coil be gu..1934 F-A
82 Sale 82
84,
,
8258 13 71
Contin'tale lot8 1 gu58 g.195. F-A
t0758 Dec'04
......
Or ltiv Coal & C 1st g tbs..1911, A-0 95 100 i0258 A.pr'Ot
Jett & Clear & I let g Cos.1.112" -1)
107 May'97
Kan& Ii C & U lets fg 53.11301 J -J
99
1051
/
4 Dee'Oti
88% 88 Sep '08
Pocah Con Collier lets I 55.'51 J -J
89
86
J94
J
J
Sunday-O.-co& Cog 58
78 Fou'l/7
1951 J.J 104
Tenn Coal gen 5s
103% 104
/
4 104
32 1011
l'eun Div let gOs
a1917 A-0
1091
/
4 108 Aug'09
10614 109
Bain Div let conaol 68..111L J -J 108
11./8 sop'09
1064, 106
Calt C M. Co let gu g 68.1922 J •D 105
110 Jan '09
110 110
De liar 64 1 Co gag 68 11110 F -A
103 Nov'os
Victor Fuel lets t 5s
87
1051 .1-J
87 Aug')))
87
87
Val ron Coal &Colst 38 1941 NI- a
991
/
4
9918
9835 99
1)5 100
*No price Friday; latest Ind and asked. alltieJ an 0 Due e'en c Due .tar it Di
(oll) 111111
-•
Polegraph and Telephone
Am Telep & Tel coil tr 4s 1929 J-J
931
/
4Cot'09
91% 96
92% .
Convertible 48„
1936 NI- S 1061
/
4 Sale 1051
/
4 106% 701 921
/
410714
Mich State Telep 1st 55 192-1 F-A
98%
1)834
98%
98 100
Pac Tel& Tel I et 5s
1937 J-2
98 Sale 98
/
4 98%
981
/
4 111 961
West Union col In cur 53 1938 J -J
101 10014 1001
/
4 4 981410235
Iftt and real eat g 452‘ 195u NI-N
911
/
4 Sale 941
/
4
/
4 96%
941
/
4 '29 991
1930 M-N
Cony 4s, Series A
/
4 100
1001
1001
/
4 24 84 102%
Mut Un Tel a fund 6s. 1911 NI-N
95 100
102 100 Eiar'01"
Industritti
"ktinuittertiving
Allis-uhalmers 1st 50
193t. J • J
84% 170 80
841
/
4Sale 84
981
/
4
192a A-0 102 1037/ 10112 102
Am Ag uhem 1st e 55
'14 96 1091
/
4
1915
Ain Cot 011 ext 41'28
/
4 9838 11 913
971
/
4 981
9834
/
4 981
t
Am Hide 64 L Isletg 68-1919 411021
/
4 10 96341031
102 10214 102
/
4
Amer Ice Secur deb g Os 1925 A-0
731
/
4 2 67
80
78 14 73%
Ant Spirits Altg 1st g 65-191b 11-S
97
96
/
4100
1 951
96,
, 97
Am thread let col tr 4a 1919 J.J
93
93
93
4 90% 93
1944 A-0 10934 Sale 109% 111
Am Tobacco 40-yr gds
/
4 112%
44 1041
45.
1951 F- A
801
/
4 sale 80
801
/
4 174 74
81
-,.or h, Duo 'ly .41./Ut4 Aug a Dee Jos a Due ov q DneUe4 'Option Nall
New York Bond Record—Concluded—Page 4
982
tit,
N. Y.STOCK EXCH A sIGE
WEEK ENIDiNG OOT 15
Price
Friday
Oct 15
.:4
..
Wee/c'.
Range or
Last Nate
songs
Since
Janitors 1
140A ir-/
N. Y. STOCK EXCHANGE
Weak ENDING 00T 15
'Vox.. Lax=
".)
Friday
Oct 15
Weev,
Range or
Last Sate
9
Ranee
5(1106
Janitors 1
ttta
Penn Co—Guar 1st g 4128 1921 J-J
Registered
1921 J -J
Guar 312s coll trust reg 1937 31-S
Guar 3128 con tr ser B 1941 F.
Tr Co certif's gu g 343 1916 51-N
Gu 312s tr ctfs0
1942 J -D
G.34e tr ctfs D
1941 J -D
Guar 15-25 year g 4s
1931 As
CI & Mar 1st gu g 4 4s 1935 M-N
& P gen gu g412sser A.'42 J.J
Series B
1942 A-0
Reries C 3128
1948 M-N
Series D 312s
1950 P-A
'Erie & Pitts gu g 312e 13 11140 J .1
1940 J•J
Series C
Or R& I ex 1st gu g 4 431941 3- r
Pitts Ft W & 0 let 7s 1912 J.J
1912 J -J
2d7'
h1912 A-0
• 3d 7s
Pitts Y& Ash 1st con 513.1927 11-N
PCC&StLgu44sA...1940 A-0
Series B guar
1942 A.0
Series C guar
1942 M-19
1945 NI-N
Series D 4s guar
Genes E 312 guar g
19411 F.A
Series F 48 guar
1953 J - D
0 St L & P lst con g 58 1932 A-0
Pensacola &
,S9e L& Nash
Peo & East See (I & St 1,
1921
Peo & Pek Uu 1st g 6s
F
91921 1--N
2u gold 4,28
Pere Alarq-011313 ‘V
58 1921 :1•
Flint PIll g 6s... .....1920 A-0
1st consol gold 58
1939
Pt Huron Div 1st g 5s 11131) A-0
BagPus& H let gu g 43 1931 If-A
Phil B & W See Penn RR
Philippine Ry 1st 30-yr s 148'37 J•J
pitts Cm l & $t L See Penn Co
Pats Cleve & Tol See B & 0
Pitts Ft W (fa Ch See Penn Co
Pitts McKeee & Y See N Y Cen
Pitts Sit & L E 1st g 58 1940 A.-0
1943 J -J
1st consol gold 5s
Pitts & West See 13 & 0
1997 j.J
eading Co gen g 4s
IN Registered
1997 J • J
Jersey Cent coil g 4s 1951 A 11
Pius & Read cons 7s 1911 J.L
Rensselaer & Sax See I;&
Rich & Lan see South Ry
Rich & Meck See Southern
Rio Or West See Den& Rio Gr
Roolt & Pats beeR R&P
Rome Wat & Og See N Y Cent
Rutland See 54 I Cent
trtt'ef
,c4s..1t27
'ere 1a;S54ai
4-.1
St L & Cairo See MOD 84 Ohio
St L & Iron Mount see AI P
Bt L Al Sr Seel' RR A of St L
St Louis & 8 If — leug 68.1931 2-4
General gold 5s
1931 J • J
St L & 8 F1111 cons g .'96 J • J
Gen 15-20 yr 3s
192. M.
48.
Southw Div let g 58 1947 A-0
Refunding g 48
1951 J • J
11 0 Ft 8 & Ai con g tis..1926 M•N
K OBIS & AI Ry ref g4a 11130 A-0
K C &M.E& Bletgu 53.11129 A-0
Oz'rk& Ch (.: 1st gu 5s g.1913 A-0
St Lotus So See Illinois Cent
St L 8 W 1st g 4s lid otte.19811 11-N
28 g 48 me bond °Us...pl.:189 J -J
11132 J -Li
Consul geld 4s
Gray's PtTer let gug5s 1947 J -D
St Paul & Dul See Nor Pacific
St P Minn & Man See Gt Nor
1' JO Nor Pau see .,,, or Vac
dtP & S'x City Seek:Stk. M dOi)
8 A& A Pafle let gu g4s...1943 J -J
8 If & 5.4 P let sink( g 6s.191v J J
Say le & West See Atl Comm,L
8031oto Val & N E See Nor & W
Seaboard Air Line g 4s...11150 A•0
1911 iia-N
_Coll tr refund g fai
-Atl-Birm 30-yrlst g 43.011/33 .11.6
Car Cent 1st con g 43...1941 J -J
Fla Cen & Pen let g 50.1918 J -J
lst laud gr ext g 63 —1930 J-J
11343 J -J
Consul gold 5s
Ga & Ala Ry 1st con 5s o1945 J -J
Ga Car & No 1st gu g 5e 11121/ J -J
Seab & Roa 1st 5s
9
.12 j.j
"
Sher Shr & So See M K &1`
81.1 Sp Oca & U bee Atl Coast L
So Car 313 Us See Southern
Southern Pacific Co—
Gold 4s(Cent Pao coll).k1941/ J -D
Registered
k1941/ J -D
20-year cone'4s
914/29 IL-S
Cent Pao 1st tel gu g 4a11149 le-A
Registered
11149 lf-A
Mort guar gold 31203../c11)29 J -D
Through St L 1st gu 45'54 A-0
Gal Har & S A 1st g 63..1111u F-A
Mex & Pao let g 53....1931 NI-N
Gila V U & N lot gm g58.11124 M-N
Hotta IL & W 21st g 56.1933 /21-N
A-N
1933 ,
1st guar 5s red
H. & T C let g 5e int gu..1937 J -J
Consol g 63 int guar...1912 A.-0
Gen gold 4s int guar..1921 A-0
Waco& N Wdivlstg68'30 Vi-N
A & N %V 1st git g 53....1941 J -J
Morgan's La & T 1st 7s.1918 A V
1st gold 6s
1920 J -J
Hitt
AIN how
It ion A. tow /I Lyn
Low Rion southern Pao Co—(Continued)
112 Febhi%
104 106'No of Cal guar g ffs
1938 A-0
104 101
104 Mar Oh
104',104 4,
Ore & Cal 1st guar g 5s 1927 J -J
1014101 12
4
101 12 Jan 4/9
So Pac &Ariz 1st c
eu g 6s.c'10 J-J 100,
104 J'ne'Os
9014 91 14
So Pao of Ca1-6s E & F 1912 AA)
1144 Dee'04
90¼ 98
1st gold 63
1912 A -t)
84)4 90
116 May'07
1st eon guar g 5s
193
17
2 31-N 112
104 Apr'))?S Pao of N Mex 1st g 68 1911 J -J
904 90%
110 J'ly 09
•0.;.92..
984 100
So Pao Coast 1st gu 43 g 1937 J -J
104 103 Oct '011
1024 103
Tex&NOSabDivlat glis•1912 31-8
08'-, Ale '08
J -J l03'
110/
1
4 11034
Con gold 58
944 sale 9438
9158 ra
o Pac RR let ref 48
10934 10934
1953
945 J
110
17 106 1131
/
4
96
southern—let con g 5s
1994 -J 14)914 9419 109
91
110 May'09
109 1104
J J 109
Registered
80'-. lOt- '16
/
4sate 80
85
Develop di gen 4s SerA.19
934 A-0 801
150
904
90', Oct
85.2 l./0
Mob & Ohio coil tr g 48 1938 Al11012 11318
Mem Div 1st g 44-5s 19116 J ..J 110 111 4 110', Sep '04
8734 8914 Aug'09
87% 91
St Louis die' let g 4s
1951 J .J
108 8ep'08
1091e 110
Ala Con R 1st g Os
1918 J .J 1094
924 93
924 924
92',Sep'
At)& Deny 1st g 4s
09
1948 J -J
874
: 871
110 110
/
4 92 J'ne'dli
2(1 43
1948 J
10778 1091
Atl & lad 1st g guar 48 1949 A•0 82
/
4
109 1101
/
4
109 J'ne'0
1.08 109
Col & Greenv 1st 65
1916 J.J
1(1934 111
11038 Oct '09
HI Va & Ga Div g 58 1930 J .J 110
2 110,114'S
1141
/
4 1144
100 102
/
4
Con 1st gold 5s
1950 M-N 1141
105 107
E Ton reor lien g 5e
94
98
1938 M-8 106 1074 107 Apr'0:
64
68 •
I 64
Ga Midland let 38
1946 A -0 64 Sale 64
/
4
1,634 Aug'0
114% 117
114 116,
Ga Pao IV 1st g 63
1922 J-4 1121
/
4 Miq'til/
1184 1184
J 116 116', 1181
Knox & Ohio 1st g 6s 1925
i 1538 Apr'00
slob & Bit' prior lien g 581946 2-4 10538
82 N ov'05
81
85
116 116
116 Aug'09
Mortgage gold 4s
116
1945 J -J
1084 111
J -J
110',J'neln,
101) 10034 Deo'05
Rich & Dan con g
105 106
105 Aug'09
Deb 5estam pod
101
1927 A-0 107 108'-. 112 J'ne'vz704
75 yet '05
112 115
Rich 80 Meek 1st g 4s 1948
11212 112 Aug'06
1014 10338
6 10434 1091, So Car at (4a 1st g 55
106/
1
4 106¼ ii)6 '.
1919 M•N 103 105 103 Sep '09
112 ()et Wt.
•
107 108',
Virginia Mid ser C 6s 191, M.8 110
104, 111 107 Aug'))'
1081
/
4 pet,'"
Series D 4-5s
1921 M-8 108¼
J'ly
109
DA/
109
A4-6
11)8
Series E 5s
19213
14/7 11012
109 Aug'uv
M-N 1094
93
95
93 : 93 May'09
General 5s
90
1094
1071
/
4 1094
04-5;
Guar stamped
'G.
1161
/
4Jan
91
-A
F
W 0& W 1st ay gu 4s-1
933
24
96
119
9
1 107 1094
107
West N C 1st con g 68 1914 J J 107 Sale 107
4 & N Ala See 1,& N
116 116¼ SpokaLeInternat 1st g 58 1955 J-J
116 J'ly'09
105¼ 106% Sep '01/ ...• i0634 10078
114
/
4108 4 108 Sep 1)11 ••.• 1011,109
9378,1'1y'97 •.. ......
I em A ol
116
1.181, g 4'
1O39 A U 1061
2 115 117
1 181 con gold 68—.1894-11144 F-A 110',, saie 1101/4 1161/4
97
tt 1.16
9712 98
97¼
99 101
Gen refund s t gee
9934
991
/
4 Sale 99
1933 J • J
1104 J'ne'u‘. •..• 1104 1104
1074
St I. M lige Ter gu g5314)30
984 100
lit3'b
981
/
4 Sale 9878
416 12 984 Vex & 5/ 0 Bee So Pao Co
98
98
96
1124
112 119
1u2', 1024 Vex & Pao 1st gold 53
2004 J-1) 112 Sale 112
1021
/
4Sep '09
1031
/
4
70
85
85 Aug'011 •.
mat
05
75
28 gold inc 5s
103 809
• 103
105
La Div B 1, 1st g Os
q1
29
11:3091 J .J 103
106,1 .N./.004
W Min Weo N W 1st gu Os'JO v • A 100
J J 111
111 Sep '01/ •-•• 111 11212
Vol & 0 C let g 53
112 112
Western Dv let g 5s 11)
135
933 A-0 11012 112 112 Sep '09
••• ml',105
104¼ Sep
J
General gold Ss
1
4 95
1/2 4 93 Sep '04 •--• 92/
93
15
M A-0 91
Kan de M 1st gu g 48
111
, 940, 1144 SeP'
941
01
' •• - 804 94%
Vol P & W 1st gold 4s
1917 J • J
11078 Sep '09
8414 911
/
4
131
Vol St1,& W prlien g 34s 1925 J -J
96 Sep'06
','5 12 96
911
97
614 21) 80
884
,
A-0 81 12 Sale 80
50-year gold 4s
/
4 Apr'idi • -• 11134 i/P4
911
[or klam 36 Butt let g 4s./(11
9541 J
11/41
4
108 Aug'00 •..• 107 108,
Ubiter& Del 1st con g (is 192s J
89
89
89 bep '04/
A-0
1st refund g 4s
1224 1241
/
4
132 12358 12368 Sep'09
102 104/
1
4
Uu Pao itli & I
109 4 111
g 4s —.1
109 4, Oct '01/
19
94
57
2 J -J 1024 Sale 10258 10278
109
t 10034 103
-J 101.4
101
Registered
91
064
p204087
92 Oct'99
19
91
1
4 2122 102 1241,
20-yr cony 48
88
911
/
4
S9 ki
1927 J- J 1174 Sale 1.1478 117 /
1
4 Salt 8934
88/
98• 1,14 1)034 100
US Salo 97%
51-S
1st & ref 48
10012 101
1004 Anvil.)
1001
/
4
ith%
b 4)8
1.11.1 /
1
4
98% 5ait 98
Ore My & Nay con g 43.1946 J
84
89
841/
4 sale 84
841
lit)
1 Li841204
119
()re Short Lino 1st g 68..11122 F-A 11878
1163s 1204
1194 140 110 12 Sep '09
/
4 1 113 4,118
1131
/
4 1.131
82%
824 86
let C01180i g 53
1946 J -J 11378
821
/
4 824
94'*,
1134 964
93-'
11.3% Sale
Guar retund 43
1929 J -D
100
84 Jan 'oe .... 94
94
974
98
Registered
19211 J -D
97
9878 97
91.130 Augeib
• 1191
/
4 100 12
/
4
Utah & Nor gold 53 192u J J 1071
94
Uni
N
J
ltR&CCo
See
Pa
11R
99'9
95
94
94
84
Utah Central See Rio or Wes
84
85
79
85
84
tah 312 North See Un Paean;
771
/
4 81 14
/
4
7734
77 4 771
7'1
Utica & Black
See N Y Cent
10114 Ape07
......
94
98 Nov'08
audalia consol g 4s
1955 F -A
US
1 96
1/6
96
era Cruz &Plat gu 4101934 2-4
Ind
Val
W
See
Mo
P
Ver
Virginia Mid See South My
110 Oct'09 •..• 110 1174
1
4
884 Sale 8812 88/
884 9258 Va & Southw't 1st gu 53.2003 J-J 110
1)84. Aug'ue . .• 984 100
984 100
104
1st cons 50-year 63
1968 A-u
104 106 104
HA 104
/
4 58,18 1121
/
4 112,, 32 111's 1144
abash let gold 58
1939 NO.:\ 1121
1014 105
VT 241 gold os
111311 F -A lute, 1(22', /dale 1014
100 101 Ply'thi .••• 86 101
Debenture series B
1939 J -J
8958 91 Oct'09
631
/
4 91
/
4 May'uv
102'S 1024
9))', 43968 Oct '09
101 1021
1st lien equips fit g 5s 1921 M-8
96 1,1007,,
May'ul•
87
874
86 bep 'ini
1st lien 50 yr g term 48 1954 4-4
87
86
85
86
85
133, 134 7134 801
/
4
7278 Sale
7214
let ref and est g 4s
93., 85 .I'ly q)
1956 J-J
92
1104 Aug'ub •... 108 1114
10714 Aug'0(.1
Set & Cli Ext 1st g 5s 1941 4-4 10934
1014
.• 0668 91),
216
88
Des Mom Div let g 4s 19311 J
78
80
78
1094 Meet*
100%
(MI Div 1st g 312s
1941 A.0 75', s4
90
914
411 Le SillY'VV • ••. 91.1
1o2-., 1004
Tot & Ch Div 1st g 4s 1941 M-8 85
106 1064 J'ne'011
554
42
43
44
43
Wab Pate Term 1st g 48 1954 J -D
WS 106
105 1054, Mar'tel
37 41'1 5534
43
4234 Sale
42
Trust Co certfa
107/
1
4 J'ne'06
101334 1071
/
4
14,,a
Sop '09 • •..
8
.0
J
48
told
20
8
9
,4
1954
106
13
8
74 144
8
734
Trust Co certfs
••••
Warren see Del Lao & %Vest
Wash Cent See Nor Pao
92
48 90
951
/
4 Wash 0& W See Southern
91 Sale 91
924 9334
9134 924 J'ne'04
85
93% Wash Terml let gu 43..1945 F
9334 Aug'09
86
11 5238 88
54
84
84
West Maryland let g 4s. .1952
97',102
10318 Sale 1024 10334
61
73/2
69 Aug'04.
lien .8 cony g 48
1952 A-0
9634 11878
971
/
4Sale
1/634
974
92
73
68 Sop 'ul1
Trust Co certfs
96
961
/
4 9634 Sep 't):,
1/734
'0.
J
102
102
102
1st g 6s1911 4-4
W Vs Cent eo
93',
811 tan '09
89
89
110 117
West 54 1.8 Pa lst g 53..1937 J -J 111 113% 112',Oct
94
115
94
114
93
'M.
87
951
/
4
Lieu gold 4s
11143 A-0 ...... 111- 91 Oct
W11811)14
10114 Apr (19
Ifulftei
31
Income 58
0.1943 Nov
10834 111 1114 Apr')'. .. 110 112
104 10434 1Veat No Car S.ee South By
10434 Sep '014
1044
107'4 Sep '09
107 109
108¼
iO3 105¼ Wheerg & L E 1st g os...1920
104 105 1064 May'uv
95 J my'08
Wheel Div 1st gold Is..1925 J -J
1034 103,.
I034 ApetiV •
1034
1034 Deo'08
Exten & Imp gold Is. .190
3 F -A
110
I 1008 110.4
110
110
8334 90
8058 all Sep '06
.1949 41-S
RR let come)! 4s.
10758Novq/7
10111
/
4
91) .Utio'Os
95 3 99
20-year equip 8 1 53 _1922 4-4
93
3 93
93
96
94
cc
East
Wilkes
See
Erie
Deo'06
116
118
116
10712Jan 09
1074107 4 Wil & Sioux h' SeeStPM&Il
30 894 9678
943
. 95
9434 95
/
4 Aug'08
W is Cent 60-yr 1st gen 48 11149 J-J
1174120 1221
9312 6 92/
1
4 95
93', Sale 934
116 j
sov'uti •
Sup& Duldiv& term 1st48'36 ivi-N
...
114
As* Low
litati
106 1044 104'
10312
10412 Mite'09
901
/
4
904 J'ne'06
89
90
91 J'ly'09
97/
1
4 9838 98 Oct'09
89
91
90 Angle)
410
934 9034 May'011
981
/
4 99
98780ot'09
10034
110 Jan 116
1091
/
4
11034 Jan '09
1091
/
4 J'ly'00
954 97
96 Aug'09
951
/
4 97
90 May'08
92 Apr'07
94
9834 Apr'04
94
10634 Dec'0
104
12758 Oct'02
106
106 110 110 May'99
107 Oct'08
108
110 Feb'011
111)/
1
4
]o6¼ 108 10778Ply'OP
108 .1.1300
1071
/
4
1124Plie'05
1071
/
4
100 Aug'09
994
96 Oct'09
935e
/
4
991
1134
114 j'ly'0e
31184.4.1,
SImmlacturimm 01.z Industrial
Armour tbUolstteal est443'39 J-D
Beth steel 1st est, 81 08..
J -4
Cent Leather 20-year g 58.1925 A.()
Corn Prod Ref sf g 53.....1931 M-N
Distil see Cot cony let g 58.'27 A-0
Gen Electric (lob g 3123..1942 If-A
, 10-yr g deb 5s
1917 J-D
Int Paper Co 1st con g 63 11118 F-A
Consol cony s 1 g 6s
1935 4-2
Int St Pump 10-yr cony.6s'13 J •J
Laokaw Steel let g 58—.1923 A-0
24 5 Air Brake 1st contr. Us'28 M-N
RepublAiS let & coltr 53.11/34 A-0
*Union Bag & P 1st el 5s 1113(• J.J
U 6 heath CosldebgUs 1913
118 Realty & 1 cone deb g 58'24 J- J
U 8 Red & Ref 1st 81)038.1931 3-J
J -D
(3 S Rubber 10-yr coil tr
9318 Sale
Suit
14/0 Sale
117
75
93
931
/
4 145
0014 350
899s
99/
1
4 10014 181
01:,
utg:0
•
Oc
318 A
9
88
751
/
4 -10
75
163
151 Sale 151
1114
104 106 104
/
4
891
8312 89', 8878
10434 105 105 Sep '111
1)8'4
984 9834 984
112121134111's 114
101
101 1017 101
US
90',
1/61
/
4
106 1664 106
106
111 Sale
90
91
94
9278 1)5
91
,Sale 104; 10542
11143
"/No price Friday; latest, 9111 aim asked Ms Week*
4-2
1
14
10
36
1
1
08
1
EU
(4139"Jan
Cop:, St1.s
Maoulacturmg & Industrial
ki a 6Wei Corplcoup 411163 3I-N
St 10-60 yr 65. reg _81903 MN
Va-Car Chem 1st 5-yr 6s 1923 J •13
Westinghouse E & Ms t 6a '31 J-J
Miscellaneous
1948 VI- S
Adams Ex col tr g 43
195I A-0
Bush Terminal let 48
1955 J.J
CO11801 Us
ChmcJe& t Yard col g 63 11/15 J -J
Det51 diM Mgr incomes 1911 A-0
instil for Irrig Wks 4,28 1943 11-N
Int Mercan Marine 448 1922 A-0
lout Navigation 1st s I 53 1921. F -A
Newp Ne Ship & 5 D 5s,11990 J -J
N I Doak 50-yr 1st g 48 1951 F-A
Providence see deb 4s
14/57 S1.14
Provident Loan 6o0 44s 1921
S Yuba Wat Co con g 63 192;4 .1 • J
0 Ode tell a ime Apr 4Dlie slay g DUO j'no
93
964
110',
17
964101
95 100
/
4
73¼ 781
84
80
136 155,
1
101 106',
8978
85
100
99
93
108 1164
98 102
9134 98
11/4 12 10638
84/
1
4 92
89
415
1024 100
/
4108
1051
/
4 Sale 105
10658 332 1021
/
4
10534 Sale 10614 105', 23 10158 11/81
97 '311,1(97¼
981
, 84, 9334 100
1/41
/
4 Salo 94', 96 162 904 951
/
4
94
1 92
93
92
92
/
4
931
90
91% 1105 Ply'09
90
111 12 9612
964 Salo 964
96 4
, 19
......
195 100 Jan '08
33
38
47 Apr'08
924 954
115 Is Sep'09
944
50 684 77
/
4
72
72 Sale 701
841
/
4 881
/
4
86 - Ply '09
85
96 Aug'Ut•
95
9318
94's 21/ 91
1)4' 9434 94,2
90
90
564.. —. 90 Jan '01)
95
95 J'ly'011
95
112 J'ly'04
A, Due I'ly
p Duo Nov
a Option /isle
CHICAGO STOCK EXCHANGE-Stook Reoord-Daily, Weekly and Yearly
STOCKS-HIGHEST AND '0WEST SALE PRICES
Saturday
Oa. 9
Monday
Oa. 11
Tuesday
Oct. 12,
-2114 -2/- -22- -231-2
6112 6212
6014 62
54
*52
54
*52
118
118 *1
*1
*2
3
*2
3
31
*3012 311_. 30
*13612 13712 137 137
*150 152
12012 121
22
22
150 150
121 121
2134 22
COLUMBUS DAY HOLIDAY
1212
8212
__
1-3-2
63
111
14234
. 127:14 fii1271-2 1-2-7159-1 60
5934 60
*43
____ *43 ___
,,,--11412
*126
*97
*118
115
---- ---- ---1141. q 15 11(1
1271;; *1215 12712
93
982 100
120 *118 120
115
11434 11434
iiiir,
1-1-4.12
11814 iff-i;
11734 11734 11734 118
100 10914 10878 109
*iii" as-- iii 1-50i*102 10238 102 102
"H*18
Thursday
Oa.14
Last Sale
---- -*2
212
Last Sale
Last Sale
8
*7
*105 110
Last Sale
3534 36
*3612 37
25
2412 2412 *24
9
9
614 7
512 614
43
40
42
*41.
*80
82
81
*80
Last Sale
18
*16
5212 5234 5212 5234
*__ 20
Last Sale
Last Sale
70
*68
51
51
51
51
47
4712 4514 4634
*103 104 *102 103
-.. ---- -.. -212
*2
212 *2
8
*7
8
*7
*108 112 *108 112
*3612 37
*3512 37
*24
25
2412 2412
*9
10
*9
10
512 638
512 558
43
*41
43
*41
81
*80
81
*80
*16
18
*16
18
*5012 5112 5112 52
.1..._ 20 *....... 20
70
*68
70
*68
5312
*52
5312 *52
4712 4758 4712 4753
10212 10212 *103 104
1218 1238 12
8214 8212 82
*20812 212 *212
*130 132 *130
68
*67
*67
*111 113
111
14212 14234 14178
Wednesday
Oa. 13
--ii-,, -i6
-1-196-- *18
19
Friday
Oct. 15
180 Apr'09
Sep'09
134
Oct'09
7
10934 Sep'09
3558 355g
8
7
40
4034
81
81
1734 Sep'09
5212 53
Aug'09
20
Aug'09
70
51
51
4312 45
*102
103
12
1214 1218 1214
1218 1238
*81
8112 8114 8114 8233 5234
*21212.
Last Sale 21212 Oct'09
*130 1-3/
Last Sale 130
Oct'09
68 *'
*67
6712 .6713
63
*111 113
--- _- -11013 111
14153 14158 14178 11178142
14214
Last sale 18
June'09
June'09
Last Sale 14
- 5" /312 23
2312 2312 2312
6312 5312 6412
63
6213 63
Oct'09
Last Sale 54
54
*52
July'09
*1
118
Last Sale 1
July'09
*2
3
Last Sale 213
*30
31
*30
31
3034 3034
13612 13612
13612 13612 *13612 137
._.___
_
Last Sale 214
MCII'M
146 '
149 1-4/ 147 148
145
121
121 121
12012 12012 120
2153 2158
2212 2218
Last Sale 8614 Oct'09
*12'712 12734 --------12712 12712
---- ---*5812 5912
Sep'09
*43__
Last Sale 47
Last Sale 218 June'07
June'09
Last Sale 21
---113 1-1-5- 1133 1133 _--126
125 126
---- ---_ 126
*37 100
*93
99
9812 9512
Oct'09
*118 120
Last Sale 120
*11412 115
11412 11412 11558 11534
Last Sale 11-16 Mch'09
124
121
Ho- III- 1201 122
11918
11712 11812 ---- ----118
10834 109
108 10878 10812 109
Feb'09
Last Sale I
150
150 150 *143 150 4145
102
*102 10238 *102 1021. 102
Apr'09
Last Sale 112
Last Sale 3
Apr'09
__
Last Sale 734
Apr'09
-I 4 -16
1558 1578 1553 1534
*18
19
Last Sale 20
Sep'09
Sates
0/ the
Week
Shares
Lowest
Miscellaneous
1,475 American Can
100
875
Do pref
100
IT:: Ameri-tan Rad1ator 100
Do pref
100
52 Amer Shipbuilding .190
19
Do prcf
100
850 Amer Telep & Teleg_ -_
-- Booth (A) & Co
100
Do pref
100
1-,877 Booth Fisheries corn
2,498
Do pref
Cal & Chic (3:.nal &D100
-- Chic 13rew'g & Mait'g
Do pref
15'. Chic Pneumatic T0ol_100
90 Chicago Telephone- __100
Do rights
--16:i Chic Title & Trust.. 100
524 Commonw'th-Edlson-100
850 Corn Prod Ref Co Cons
Do Pref _ _ _
Do
--35 Diamond Match
100
448 Illinois Brick
100
---- Masonic Temple
_-__ Milw & Chic Brewing_
Do pre
-iVr National Biscuit
100
73
Do pref
100
235 National Carbon
100
Do pref
100
-855 People sGasL &Coke-100
Do rights
4,Aii
Sears- Roebuck com100
316
Do prof
100
918 Swift & Co
100
-ion 'rho Quake'
ake'• Oats Co
100
45
Do prof
100
_ Unit I3ox lid & P Co_100
Do Full laid
....
Do prof
100
1-,050
Do louil pa d
_-- Western Stone
100
Price
Friday
Oct 13
Week's
Range 07'
Last Sal:
10u
9034 ____
1418 3\fay2
85 J'ne 1
21212 Sep 15
132 J'iy 21
6734 Aug 7
112 Sep 13
14434 Sep 28
Jan 2
5 Jan
27 Aug 26
6412 Sep '1
tel Apr 11,
1 Apr 2i
218 Apr 2
34 Aug24
140 Sep '23
117 Jan 18 152 Oct 1
107 Jal: '21 12112 J'ly 1
1718 Feb 25 '2518 Aug 3
7014 Meh25 8812 May19
117 Jan 0 13034 Aug 13
38 Jan 26 6158 Oct 5
43 Jan 5
47 Sep 16
'2012 Apr 2/
inis Jan 2
11814 Feb 15
82 Jan 14
110 Jan 15
102 Jr.0 5
12 Feb 25
55 Jan 5
101. Jan 6
10012J. 9
Is Feb 5
119 Jan 5
9812 Jan '2
18 Feb 10
214 Feb 26
334 Mehl()
1012 \fah
15 Feb 16
21 J111,219
11914 Sep 27
130 Sep 21
100 Oct 1
120 Apr I
11978 Aug 15
124 Oct 11
11918 Oct 13
11414 Aug 15
20 Jan
152 J'ly 28
10312 Aug 12
158 Merin
318 Alch
912.f.n 4
1612 Oct 1
25 met'15
Y.owett
I'ighest
HO Jan , 185 Dec
34 Aug
15s Feb
10 Aug
6I2Dec
8434 .0 it
119 Nov
28 Oct t 47 J'ne
'20 Nue' 214 Deo
1312 Deo
934 Sep
3012 Deo
15 Feb
30 Oct
4734 Nov
8612 Nov
68 Sep
19 Jan
1214 Nov
64 May
42 Jan
22 Deo
1334 Asia
40 Ausi 6242 Dec
11 Jan
31 Nov
'
2612 Ain
85 Api 103 Joe
1038 Nov
4 Felt.
167R Dec
4112 Jan
125 Jan WO • Dec
12814 Nov
HO Api
37 Mr, 853 Nov
91 Jan. 104 Nov
78 Dec
3 Dec
30 Jan
100 May
40 loety
) Oct
2 Nos
20 Dec
106 Jan
34 Feb
100 Jan
80 Jan
6714 Dee
Ds Aug
4 Apr
301. Aug
153 Sep
:234 Feb
116 Deo
110 Oct
113 Jan
30 Jan
cs J'n.
137 Aug
4212 Dec
46 J'iy
20
19 J'ne
97
70 Jan
120
10134 Jan
87
51 me,
91 Mel, 115
106
8012 Jan
J'ly
Dec
Aug
Dec
Nov
Dec
24 Jan
72 Jan
8812 Jan
56 Dec
102 Dec
10534 Sep
11434 Jan
87 Jan
'
14 Xis,
134 Jan
160 J'iy
134 Jan
02 J'1Y
12 Jan
1134 0,4
17
Apr
Ohio lg.) Banks and Trust Conw,nies
13',Js
So:d
Range
'or
Year 1303
11igh No, Low High
Ask Low
Bid
100 Mch'07
Amor StrawbOl. 1st Os_1311 17 - A
9312
9312
Armour & Co 4145_193' .1 -153-1-4 967)
393'2 Sale
- _- - -Aurora Elgin&Chic Is 1941 A -0
Cal & So Chic fly Co
192; F - A
1st AI Is
102 J'ne'09
Cass Av & (.4 (St L) '17 1 - J
10114 Oct
Chic Board of Trade 451927 ,f - D
100 Mo.y'07
Chicago City Ity 5s_....192, lo - A
3 15
10314 1032 10
Oisle Consol Br & Mit Os__ _ .1 - J
103 Apr'04
1 19:59 I Chic Consol 'frac 4 ,55
50 Apr'09
Chic Auditortumlst 551022 ('-A
9634 Jan'06
Chic Dock Co 1st 45_1929 A -8)
Chicle RR 1st Hg 55_1945 • - S
"gr Fe-bl0t-5
Chic No Shore Nice 6s.1212 A - 0
38.1" .
gtrJ
Chic Poe Tool 1st 5s_a1921
11
192" F - A 10114 Sale 10114 101,
Chic fly 55
, 103 10078 10234
9312
9531
9312 9614
Chic flys 4-5s series "A" A -8) 9512 Sale
D 30 Sale
80
8414 8912
8614 2o
Chic Rys 4-55 series "13'
92
913
9214 Sep '09
89
Chic P.ys 4-5s series "C" F - A 3.
10112 Sepis/
10138 10238
Chic Rys coil 55..-1913 10 - A 310114
10112 July'09
10112 10255
Chic Rys Fund 65-1013 F - A
:1U-178
10114 101,0
101 10212
Chic Rys Tens Ct:s 1st 0;
6612 Aug'08
Chic III e: P RR 45_2007 31- N
6612 July'08
Collat trust cr 55-1913 51
- D 310) f(13-1-4 10318 Oct'Os
162-.
34 1-633.4
Chic Telephone 5s.._ -1923
Commonw- Edison • 53_ 194:: fl. S 19234 Sale 10234 10278 31 101 10314
-- 100 Jne'08
_--- -Chic Edison deb 65_1015 J 3100 -- 10038 Oct'09
10018 10134
1st Is Is___July 1926 A 10058 Aug'09
- 6
10058 1021g
192
Debenture 5s
103 Sep '09
10234 10358
Commonw Elect 555104: It - IS tair4
80 Dec'08
illinolts Tunnel 5s_1024 J -D
Han City ltv & Light
9834 J'ne'011
93
9834
Cobs
191.' It - N
06 alch'09
95
05
Knicieb'ker lee 1st 55.1921 A -0
73
91
Lake St E'.--1st 53_ _1928 J F6- ..87-1-2 00 July'09
16 May'05
Income 5,
1125 Feb
Mar W Side M1
83
83
83
8512
ist 4s
193::
33 Sale
- A
8112 8414
Extension 34 48
1936 J -J
8134 8112 Sept'OP
4
North West El 1st 45_1011
9214 9612
9418
9414
9418 Sale
09
No W G-L & Coke Co 55'28 Q 51
08
9314 Aug'0,
0512
9.42
Ogden Gas 5s
104.; 11- N V5-1; Sale
98
93
3
Fcarsons-Taft 5s
191,, .1 - I)
10014 10012
10038 Mch'09
4.40s
11 - S
9034 93
---- 97 alch'09
11 - N
4.60s Series
9978
08 __
08
98 J'ne'09
it - N
4.805 Scrles
100 10018
99 ___ 100 itich'09
Peo Gas L&C 1st 6s_19.< A - 0 3-- 121
120 122
12134 MaY'oo
Refunding g 53____19.17 It- 5 10358 sale 10338 1,1338
103 104
J 10312 10414 104 Oct.09-_ 10334 105
Chic Gas L&C 1st 551930' .1
Consum Gas 1st 55_1936 f - I) 310214 Sale 10214 1021.1
1 102 10234
Mut'l Fuel Gas 1st5s1947 31 -:\ L.- 10217 102 Aug'09
10112 102
- J ---- 9114 1412Sept'09
9412 91534
South tilde loam, 4 WL -11)3;
- J 310034 Sale 10034 10034
100 102
Swift & Co 1st g 5s---191•1
95 J'ne'09
16
92
Union PA Loop) 5s__104 . A - (1 3---- 93
43_1911
)1
N
114 Nov'04
Union Pacific cony
3/3 .1T6- 7814 Oct'09
70
8012
United Box Board col 63':',6
I/6
78
7014 81
(;eneral mtge Os
78 Sep '09
8512 July'08
Western Stone Co 5s.._1900 A -0
NAME
Stock
Dividend Record
Surp:its
and
Profits
PJ07
in Pc,1908
LotS l'aid
'3alumet National
$100,004
111 Dec '03, 6
$30,06t
Chicago City
186,242 10
10
500,000
4-4 July '09, 5
s Commercial National_ 7,000,00(1 3,343,646
Oct. '68.2
Continental National_
13
8
444,000,000 3,963,096
(2-) Oct. '00, 2
July '09, 112
.300k Co State Savings
8,98•
50,000
Corn Exchange National 3,000,000 5,283,593 12
12
Q-J Jet. '08, 3
A-0 Oct.' 09, 5
Drexel State
200,000
27,714
8
Oct. '09, 212
409,361
9.14
drovers' Dap National_
600,000
Englewood State
31,905
200,000
Q-J Oct. '09, 112
12 Q-111 Sep 30'09,4
12
First National
8,000,000 8,220,177
40 Q
Sep 30'09 212
to rst Nat Englewood_
162,1.8 10
150,000
Priv ate Ba ale
oorem n Bros Il'k'g Co_ 1,000,000
542,865
13
418,357
8
Q-J Oct. '09,2
Port Dearborn National 1,000,00'J
.1-.1 July '09, 212
152,092
500,000
5'
Hamilton National__
5
807,640
8
8
Hibernian B'k'g Ass'n
1,500,000
Q-J Oct. '09, 2
10
10
.1-3 July '09, 5
121,56,
200,000
.(aspar State Bank
10+2 Q-M Sep 30'09,212
431,415
Live Stock Exch'ge Nat 1,250,000
4
Q-1. Aug 1 '09, 1
03,864
300,000
4
s1onr IC National
8
2,000,000 1,134,917
Q-1 Oct. '09, 2
Nat Bank of Republic
509,923
1,500,000
3
National City
Q-1 Oct. '09, 112
69,480
250,000
National Produce
Q-J Oct. '09, 1
67,612
200,000
North Avenue State
Q-J Oct. '09, 112
15,91
50,000
Q-J Oct. '09, 112
North Side State Sav'es
8,950
200,090
North West State
70,677
Pea do National
250,000
8 (3-N1 ;;;;49,940
8
Pra.rie State
500,000
2
Ian '08, 2
4
ili-.11way Exchange
12,173
250,000
153,426
Security
300,000
6
6
ioutt) Chicago Savings_
78,211
200.000
Q-J Oct. '09, 112
State Bank of Chicago
11
Q-J Oct. '09, 3
1,500,000 1,465,411 9+1
Stock Yards Savings
J-I) Sep 30'09,2
6
7
174.589
250,000
'Colon Bank of Chicago_
6 51-N May '09, 3
6
200,000
46,883
6
UnionStock Yards State
6
65,30,
200,000
Q-J Oct. '09, 112
July '09, 2
Atnerlcan Trust & Says_ 3,000,000 2,755,558
8
8
Oct. '09, 134
Central Trust Co o. II1
812,430
2,000,000
7
7
lilca ta) Say 131c &
89,160
n500,000
Q-J Oct. '09, 112
Chicago Title & Trust
5.000,000 r1,208,019
Q-J Oct. '09, 112
3
5,331
4
Itizens Trust 1(: Savings
50,000
A-0 Oct. '09, 2
10
8+2 Q-J Oct. '09, 212
506,621
600.000
Colonial Trust & Savings
6
Drovers Trust & Savings
97,307
200,000
718 Q-J Oct. '09, 2
215,532
'arwell Trust Co
1,500,000
Q-J Oct. '09, 112
Q-51 Sep 3009, 4
First Trust & Savings
2,000,000 2,990,694
10,254 Incorp orated 1908 V.87,p.1138
200,000
Guarantee Trust & Say_
6
larris Trust & Savings_ 1,250,000 1,140,074
Q-J Oct '09, 212
Oct. '09, 4
Illinois Tru t & Sayings 5,0'00,000 8,297,291 16+4 164-4
6
44,204
Q-J Oct. '09, 134
200,000
Kenwood trust &Savgs_
414 Q-J Oct. '09, 114
200,000
39,04
1,;.-IceView Tr ist.".:Saygs
12
Q-J Oct. '09, 3
11erchants' Loan & TrCo 3,000,000 5,036,106 12
6
750,000
243,819
6
1Ictropolitan Trust&Sav
Q-J 8ep30'09,112
1,500,000 2,123,341
8
8
Q-J Oct. '09, 2
Northern Trust Co
200,000
6
55,011
6
North-Western Tr &Say.
J-J July '09, 3
2011,000
100,)64
6
People's Trust & Savgs _
Q-J Oct"09,2
500,000
183,263 18
8
Pullman Trust & Say -s_
Q-J Oct. '09, 2
200,000
20,000 Beg. b us,J'ly 12,0 V.89,p.141
Sheritla,. Tr & Say Bank
200,00
2.651
J-J July '09, 212
:tocitmen's Trust & Say
5
5
z1,000,000 1,253,035
8 Q-M Sep 30'09, 2
Union Trust Co
6
Oct. '09, 112
201,630
Western Trust &Savings 1,000,00
6
200,000
64,803 Began busln,: ss Se pt 5 1908
West Side Tr&SayBank
Woodlawn Tr&SayBank
6
Q-J Oct. '09, 112
38,514
200,000
No: -Accrued int-ores' must te:aided to all Ch'CaTo 1) ond oriees.
3 sept. 1 (close of business) fo_
•Bid 5.nd asked prim:5, no sales were made on tills day.
Institutions. :No p ice Friday: latest _price tills week. aDuo Dec. 31. bDue June . lc
be increased. 0314/Wends arc paid Q-J, with extra Payments Q-F. r Al of date Dec. 31
Under name of Elommercial National, with $7,000,000 capital: V. 89, p. 571. z Capital to be
77s Jan 30
7134 Jan 6
200 Jan li
120 Jan 21
5418 Anr 21
101 Feb 24
139 Aug 7
18 J'ne 10
14 May22
10 '
,tat-24
48 J'ne 16
5114 Jan
1 Apr 21
218 Apr 27
20 Mch 24
127 Jan 4
OtastandInterest
l'er Sod
Highest
:t'allroads
Chicago City By
100 180 !'.1ch 8 190 Feb
---- Chicago & Oak Park_100
4 Jan '22
134 Sep 22
-Do pref
100
15 Jan 22
7 Sep 21
Chic Rys part at "l''-- - 107
tie I 11912 J'ly
341. Chic Rys part ctf "2"--- 3534 Sep 14 4534 Jan 2
15
yyss
rt l
ef 4
3.-?: 24 Sep 7 30 .I.A1
98 CITic
c Rys part
9
,.1y3 1312 Jan 2
3,582 Chicago Subway
434 Oct 7 2914 Jan 2
0
485 Kans City By & Lt 1 .0 35 Feb 24 52 J'ly 7
Do prof
100 79 Jin S 8612 May18
Metropol W S Elev_100 1518 Sep 13 19 Mch 8
"Kg Do pref
54 J'ne 3
100 47 Jan 14
Northwestern Elev__ _100 20 Aug 11 '25 May 6
Do pre(
100 63 - an
73 May 1
-iii South Side Elevated 100 50 Jar. 25 61 May
1,240 Streets W Stable C L_100 2014 Apr 13 5134 Jan,11
5
Do pref
100 97 Feb 15 10712 J'nels
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending Oct. 15
:canoe 707 Previous Year
(19118)
Range sawJan. 1 1909
SiOC KS
CHICAGO STOCK
EXCHANGE
nationa, banks and S..pt. 2. (openin r of bs siness) for State
Also stock dividend of 33 1-3%. nCapltal and surp us to
1908. 3 Bankers and Commercial National banks merged
increased.
STOOK
&WON
PR"C'Es-NoT
s11.4
Baggdr
1)Oct.)
1oudii
zy
2'uesday
Oct. 12
EXOBA_NCIETStock Record, 'Daily. Weekly and, -Yearly.
CEN7'11.11
Wednesday
0c,
. 13
;
T..ursday
Oct. 14.
Friday
Oc,
. 15.
.Saies
01 flu
lVeek
S7tares
STOCKS
BOSTON STOCK
EXCHANGE
!:(azye stnc, Jan. it
- 1909.
Lowest
11077rest
ilanye tor 1' ertous k all
1906/
Lowest
Ilt7hcst
,
Railroads
12118 12117 12012 12012 12018 12038 11934 12078 121 121/4 *12134 122
905 Atch Top & Santa Fe_100 98 Jars i';
100 10034 Jan. 15
Do pref
76
10114 10414 *10413 10513 10414 10414 810413 10513 *10412 10513 *10312 10412
231 231
231 231
10 22
125
414 ja.
231 231
232 232
231 232
231
232
Ja:
49 Boston & Albany.... 100
n.
130 139
130 130
13014 131
130 131
131
469 Boston Elevated
131
13078 131
100 224 Jan 12
235' *____ 230 *___ 230 *__ 230 229 229 ,,
I ...._ 229
5 Boston .5: Lowell
100
an
13212
601 I3oston & Maine
149 14912 149 140
149 151
151 151
150
150 150
150
100 151 Feb 26
Do pref
296012 Sep15
4
*557 --..:: 555- iai- ,
9 ---i Boston & Providence..100 295
1 555- ---: *H5- idkr- *291
6"'"le 91,1"17
14
*15 -1-/
*15
14 1712 *15 17-12 *15
1712 *11 -1-7
216 Boston Suburban El Cos.. 1134 Ja n 2
Jan
21
721
160
*71
73
*71
Do pref
73
*71
73
71
71
*70
7
10 Maylo
10
__
10
---10_
Boston& Wor Elec Cos
_ *1013 _ _ *1013 ------*10/2
__ *1012
2 Ja
Oct'09 5l
atal 54
Do pref
*--- 55
*53 -5-5
*5112 15
*52
55
--------- --------30 Chic.June Ry & USY_100 143 :an 25
100 116 Mch19
H5- CIO- lig lig
Do pref
ii5- fa- *lig IN
--------116
Con & Mont, Class 4....100 170 Jan. nt
Last Sate 170 July'09
Last Sete 13912 J'ne'09
Conn & Pass Riv pref _100 139 Jan 2
100 267 Jan 1
Connecticut Rtver
1'
30
Fitchburr, pref
100 129 J'ly 29
*15112 ai- 151- iii- 1301-3-1- 555- fili- 130a3t1fgle 27
9912 *9812 100
120 Ga fly & Electri3
97
97
*97
98
98
98
*97
98
*97
100 75 Jan
Last Sale 8413 Sept'09 ___
100 79 .1'
,
.n 1 /
--_ -__
Do pref
---- ---- --- --..-- *---- 85
195 19.3 *193
__
100 195 Oct 11
-- ..-_- -.
_-...
6 Maine Central
18
*17
*1712 18
17 17 *1714 18
1734 1734 *1713 1
8
55 Mass Electric Cos_ _100 1114 J:In 1,
8014 *80
713
__ 79
*8012 8113 80
81
80
2014 79
199
Do pref
100 5813 Jan I.
17013 171
170 171
170 17112 171 17112 17114
NYNH & Hartford_100 157 Ja:: 2'
iiii_ if6_
Last Sale 149 Aug'09 „i5 Northern N H
100 146 Feb
Norwich & Wor pref _100 200 Apr 13
_2. 2-6.
6- *R15- ::::
*255- ::::*RC :::: *i55- :::: 200 200 4,-_130 Old Colony
100 194 Jan 5
_100 26 Apr 27
Rutland pref
4 iii" 114-3-4
*ii3- Ili- *lig 117
4 *iia- fa- Hi' ffiTh:iii" 1141
Li Seattle Electric
100 1014 Mch
*104 105
105 105 *104 105. 105 105
100 9712 Apr 5
10478 10478 *10113 10478
27
Do pref
20312 20438 20218 20312 202 20213 20114 20338 20278 20412 20512 20578 1,389 Union Pacific
100 x17278 Feb 26
*10478 10573 *10378 10118 *10312 10412 *10414 1041
1011 9313 Arch 2
t ale 10838 Se'09
Do pref
--- ---8 Vermont & Mass
100 105 Jan 23
172 172
172 172 - ------------50 88 Jan •,
-94
19 West End St
94 -94
*93 -94
9414 95
94
94 -9414 94
------40
50 102 Oct 12
*__ 105
Do pref
104 104
102 10212 '103 103 4,- _ 104
---- ---- --- ---- --_- -... ---- ---- -1.act Sale 145 July'09 ..._ Wore Nash & Roch 100 144 Mehl::
Miscellaneous
46
950 Amer Agricul Chem_100 3314 Jan 2
45
46
46
46
46
46
4534 4614 45
4512 46
100 94 Jan
102
252
102 102
101 10119 102
Do pref
101 1011., 102 102
102 102
813 858
878
639 Amer Pneu Service... 50
558 Jan 21,
834 834
812 834
812 812
813 834
1'I
50
21
2178 1,832
13 Jan 12012 2013 2014 2013 *2014 21
Do pref
2012 2013 2013 21
13012 131
13112 133
969 Amer Sugar Reiln_100 12112 J'ne22
13212 133
13034 13212 13014 131
133 131
100 120 J'ne 20
12612 12712 12612 127
74
Do pref
127 127 *126 127 .8126 127
127 127
14112 142
14158 14214 14213 14213 6,404 Amer Telep & Teleg_ _100 12514 Feb 1
14258 14278 14134 143
14134 142
80 American Woolen -__ -100 2712 Feb 1
*38
39
*38
39
*38
39
3612 3712 3512 3514 *36
37
100 (531.. Jan 15
10358 104
Do pref
10312 10331 103 10312 103 10314 103 1033, 10313 10312 1,008
*712 8'2
334 Apr 1
*712 8
*712 8%.
10
712
712
420 Bostnn Land
734 734
713 8
*142 14314 142 14212 142 1421, *142 14212 14218 143
14314 14338
310 Cumb Telep & Teleg_100 125 Jan 25
6014
1813 •i an 11
5858 *5912
5612 *58
_ _ _, *56
5 Dominion Iron & Steel__
*5613 5717
58
58
912 -04 *914 934
912
9
912
912
912
810 East Boston Land
9
*934 1014
7 Jan 4
252 252
__ 252 252
253
253
*252__ _ 252 252 *252
140 Edison Eiec Illum___100 245 :Ian
16212 161
*16312 16413 16213 163
164
100 15038 Feb 24
16213 1-6213 162 162
164
195 General Electric
701: 1,405 MassachusettsGasCos 100 59 Jan
6913 6034 6912 6913 6913 6912 6912 6912 6914 6912 70
100 89 Jan
9514 95
05
94
9418 9414 9414 9413 9413 9434 9514 95
804
Do pref
212 212
212 21212 21212 21212 .1....._ 213 ,211 213
21212 21212
171 Niergenthalcr Lino_ _ _100 :0212 Mob 12
234 234
2 Jan 5
213 213
278 3
*238 234 *238 234
314
314
858 Mexican Telephone_ 10
114 11912 11912 12112 120 124
120
3,902 N E Colton Yarn...... 100 88 Apr 24
115 11513 114 114
123
100 93 Jan
115 115 *11712 11813
10313 10813 *109
110 11213 113 115
295 . Do pref_
100 12614 Jan
*133 1351: ,
13512 136
136
136
136 N E Telephone
1 135 1-3-513 135 136 *134 136
100 100
108 108
--- --_
25 Pacific Coast Power 100 75 Feb 6
*103 1)8 *____ 103 4,...- 108
96 Pullman Co
____
190 190
100 163 Jan 440
190 191 *189 100 *189 190
180 190
*1114 12
12
-12
1178 12
10
*11
12
25 Reece Button-Hole
934 Jars 1,
*1114 111. *1114 12
100 100 Jan 9
440 z'4v1ft & Co
109 110
10834 10834 10838 10878 10813 10812
10834 1091:1 108.34 109
105 Torrington, Class A
25 2013 May21
*2414 2413 *2414 2412 2412 2413 *24
2413 2413 2413 2412 2413
2712 2712
105
Do pref
25 2414 Jan 29
28
28
27
28
*27 ___ *27 ....- *27 __
12
62 0109 1..,i,ii Union Cop L'd & 13,1'g_ 25
1616frigle 11
1 Jan 26
United Fruit
100 12613 Jan 12
I55- al- 15912 Ed1354 fa-6938 2,80E tin Shoe Mach Corp.._ 25 x54 N.lehr
69
6914 6912 69
6813 69
68
69
6013 69
03
Do pref
160
25 2812 Jan 11
31
31
31
3034 31
31
31
3034 3034 31
3034 31
100 4134 Feb 24
8678 8734 8578 8834 8578 8633 8512 875
8778 911 p 9218 938 49,547 U 4 Steel Corp
Do pref
100 107 Feb 23
653
12614 12758 12718 1271;., 12778 12814
127 127
126 12712 12634 127
618 Jan 11
*1034 1112 10
461 West Telep & Teleg_ _100
12
*1012 11
*10
*10
11
1012 *1013 11
100 76 Mch 3
Do pref
*88
8934
53
*39
*89
90
90
90
*88
88
89
*89
90
Mining
25
512 Oct 15
G
6
512
6
6
6
600 Adventure Con
6
6
6
6
6
6
25 34 Jan 29
59
59
553 58
170 Ailouez
*55
57
*55
57
57
57
57
57
8118 8213 26,834 Amalgamated Copper 100 65 Feb 26
7858 81
8034 8114 79
81% 7918 7913 7778 79
3312 34
3313 34
3313 34
3424 *3378 34
1,815 Am Zinc Lead & Sm.... 25 23 Men 27
3412 3458 34
25 3818 Feb 26
..
Last Se.7e 50
Anaconda
Sept'09
25 30 Feb 2,,
4 4334 4434 4413 45
4,183 Arizona Commercial
7
5
74 16-1-2 -4434 1411 -55; -471-2 -55- 1411
,
7st Sale 1
Sept'09
25 45 Feb 17
Arnold
4.75 .99 4,75 .99 4,75 .09 4,75 .99
1074 1134 1134 1214 3-,475 Atlantic
25
*1014 11
8 J'iy 16
834 834 €1018 1034 *1014 11
.55
..),) .60
.55 1,300 Bonanza (Dev Co)...... 10 .45 Feb 16
.52 .52 *.50 .55
-- .52 .55
1414 1414 1438 1438 1,090 BostonCon C&G (rcts) II
1034 Mehl5
1434 -1-434 1438 1412 *1414 1412 1418 1414
1912 1934 1934 2014 2012 2013
5 1718 J'ly 14
2012 2013 20
1912 20
743 Hos&CorbCop &SI I Nig
20
15 21% Feb 24
2434 2478 2418 25
2438 2478 2412 2458 2413 2413 2418 2514 3,624 Butte Coalition
10 9114 May 3
9934 100
100 100
100 100
1,101 Calumet & Arizona
99 100
100 100
9734 100
25 586 Feb 23
650
650
640 640
640 646
3( Calumet & Hecla
640 640
650 660
650 660
25 29 Feb 1
4W1
661 Centennial
39 , 39
3812 381
: 378 3712 3712 3713 3813 3812 40
.20
4.15 .20 4.15
.15 .16
.
.15 4.15 .20 4.16 .20
60( Cons Mercur Gold_ _ 1 .10 J'ne26
7912 7912 7978 2,242 Copper Range Con Co 100 6813 Feb 20
7914 79
7934 7914 7912 7914 7914 79
79
20
8
1-13
8
813 *8
712 May25
7( Daly-West
8
9
8
812 *8
8
*8
712 Feb 1
1112 3,031 East Butte Cop Min_ 10
1013 1073 11
11
11
1013 11
1013 1114 1078 11
12
Cet.'09
1% Aug 6
Elm River
Last S.'- 112
*138 112 *114 112 *114 117 *114 112
"5 13 Feb 25
1612 le
1.,
16
1534 1578 16
2,061 Franklin
1613 16
1612 1634 16
733 J'ne 16
834
1 ,, 2,115 Giroux Consolldated_ 5
834 878
878 9
9
9
878 9
878 9
95
*95
95
97
20( Granby Consolidated -100 90 Feb 26
*9512 98
95
05
0512 9510 95
ela
nso
an
oan
20
9 Feb 26
uraenecnoeciceC
1053 1011
1014 1058 1018 1012 1018 1018 1013 1838 1012 1058 8,63( G
913 1,13 10
!dated 25
111- ____
1 ____ 1134 *11
_-1118 €1218 1218 ,
885
814 Sep
21
613 612
J'ly 21
612 , 12
W, 634
68( Helvetia Copper
612
638 638
612
612 634
*2313 24
2318 2313 2334 2334 23
2.
204 2614 2512 27 10,551 Isle Royale (Copper).. 25 '2218 Apr 27
5
712 Aor 30
878 878
8784 9
878 9
5,752 Kerr Lake
834 /' 78
0
878
834 878
25 16 Jan 30
36
3618 3512 3618 3513 351: 3513 3614 36
3613 37
37
4,431 Lake Copper
25 1034 J'iy 10
1434 1434 1413 1412 1412 1412 1412 1412 1458 143, 1434 1478 1,052 La Sale Copper
25
414 Steil Is
991 Mass Consul
634
7
7
7
7
634 634
(31
7
7
634 83:
25 .30 Apr 29
.60
271 Mayflower
.60 .6, 4.50
........ - - 4.20 .70
.60 .65 '.50 .70
518
514 514
518 514 *5
513 518 *5
514
518
312 Apr 16
514
501 Mexico Cons M & S..- 10
5 1234 Feb 26
1512 1512 1513 1513 *151,1 1512 1514 1538 1518 1558 1518 1514 2,261 Miami Copper
914 10
714 2,671 Michigan
534
9
25
9
778 813
9
9
9
9
534 Oct 15
25 x5712 J'ly 16
60
61
8014 60
*5934 CO
401 Mohawk
60
60
GO
5934 593t 01
.30
4,20 .30 4.20 .30 4.20 .30
4.20 .3.. 4.20
.20 .20
10( MJntana Conso C & 0 10 19 Feb 11
2,351 Nevada Consolidated_ 5 1612 Feb 26
2334 2378 2334 24
235 2334 2334 2378 2334 2334 2358 235
1138 1112 2,371 Nipissing Mines
5 978 Oct 8
1078 11
1114 1158 1112 1113 11
1112 1114 113
15 4i14 J'ly 10
5812 59
58
5813 5814 5914 5914 6038 7,51, North Butte
5913 58
5813 58
412 Mob 22
712 712
734 7,06( North Lake(38 98,1(1)_ 25
7
034 714712
612 634
712
653 7
25 .40 J'ne21
Old Colony
Last SW'. .60 Sept'09
41.60 .75 4.60 .75 4..50 .60 4.65
--52
52
25 4714 Feb 24
1,50] Old Dominion
53
5112 52
53
52
32
51 -51
5214 52
25 122 Feb 26
158
160
1,391 Osceola
155 152
13313 155
154 15514 160 160
154 155
31
3078 31
3012 30
31
31
30
30
341 Parrott (Silver & Cop) 10 26 Feb 1
3012 3012 *30
25 85 Feb 1
89
87
31 Quincy
- _ *87
87
87
87
*87
88
87
87
134 Oct 12
1.7
*178 -2
*178 2
178 *88*178
178
134 178
178
2
491 Santa Fe (Gold & Cop) 10
10 1313 Feb 26
1578 1573 1534 1573 1533 1558 *1512 1534 1558 1534 1534 1578 2,40( Shannon
25 34 Jan 5
5914 1,46] Superior
58
37
6614 561., 57
-- 56
56
56
57
---1518 1518 1412 15
---931 superlor&Boston Min 10 14 Mch 24
1418 1414
1414 141:1 1414 15
1514 1514 1,751 Sui
1518 1512 15
15
1518 1518 15
Tr pneirtlyor &Pitts Copp.. 10 1278 Apr 21
1514
1518 1514
25 62 J'iy 16
69
*65
: Tamarack
69
4... .. 70
65
65 4,..
69
*65
69
*65
25 1013 J'ne 21
11
1114 sco
I.i
11
11
n
1114
1 11
11
11
1
100
------9 918 *918 912 912 913 331 United Copper
814 J'ne 22
_
912
513
- 3614 37
3612 -3078
3678 3718 3718 3714 3,11; United StatesCoal&011 25 23 Jan 12
3618 318 3612 37
9,741 U S Smelt Ref & Min_ 50 39 Feb '25
5534 5618 5538 56
5513 5513 56
5514 551; 55
5514 55
5314 2,79;
50 44 Jan
53
5212 5213 521
53
5314 5234 5314 5278 53
52
Do pref
413 434 *413 458
414 478
418 458 *412 45 -.. --- 1,41, Utah-Apex Mining- 5
418 Sep 28
5 3714 Feb 24
43
43
1,06; Utah Consolidated
4217 4234 43
4234 423, 4238 43 . 4212 421: 42
29; VUlteathorCiao"er Co
10 3934 Feb 26
4712 4712 47
47
4603 4638 4634 4034 4713 4712
191
25
*312 4
334
334
25 Jan 6
334 334 *334 414
334 334
*334 4
25
331 Winona
434 Apr 30
714
'714
714 714
7
714
634 634 *02 7
* 14 .7.7.5 139 Nich Is
il Wolverine
-.... -_
147 147 *141 150
149 1-5(/ *......_ 150 *_- 150
*21. 91. *9
21.,
2
2
*13A
211
2
2
2
-21.4 2.00
25
2 Oct 8
yandot
c Belore pay't of assess Is called in 11/09. • .isid and asked prices. 6 New stock. e Ass't paid. 0 Ex-stock dill. /
°V --ia
____ ____ __ ___
ig5r,,,i-iTT-
ini3 17013 1711, 728
12518 Oct 2
106 J 110 1
23914 Apr a
13213 Apr '22
235 Mob If
151 Oct 12
100 Apr 3
301 Jan 9
22 Feb
75 Feb 3
5.113 "oh 12
5514 Oct 7
162 ., • ,re
123 J'ly
173 Men 5
14212 Mch 25
575 Steil lo
135 Feb 5
98 Oct 12
8812 Sep 15
195,4 Jan 13
19 Oct 1
33 Sep 29
•7478 J
149 Aug 9
215 Sep 2
20013 Ja,r
40 J'ne 51
11712 Aug 11
107 Aug 3".
21834 Aug L.
11714 Align
475 Apt 17
9818 Apr 23
112 Apr 27
140 May11,
10114 Deo
6737 Vol
8212 Mc, 10414 Deo
18113 Jan 230 Deo
12112 Dee 140 Jan
20014 Feb 223 Deo
119 Oct 140 Jan
136 Feb 156 Jan
201 Nov
284 Jan
13 Sleh
9 Sic,
18 Nov
45 Jan
8(3 Nov
17 Jan
.4712 Dec
1(013 (au
126 Jan
1511.1 Dec
102 Jan(
12013 Dee
163 Dec 165 Al eh
13314 Sep 138 Apr
263 Dec
294 Jan
133 Nov
117 Jan
88 Deo
67 Apr
85 Dec
/I Oct
193 Nov 193 Nov
13% Am!
814 Jan
64 -N (iv
90 Jan
128 Jan
140 Joe
145 Apr
200 A p, :05 Feb
196,,Deo
175 JR.
34 Deo
25 Jan
t5 Deo
70 Feb
102 Dec
88% Jan
11012 MO 18558 Nov
07.8 Nov
7834 Al)'
1.61 Nov
150 Jan
9112 SeP
76 Jan
r1.1) Dec
96 Jan
138 J'ly 140 51eis
5014 Aug 12
105 J'iy 23
978 Feb :3
22 J'ne 14
136 Apr
In Apr 13
1451s Sep 29
4018 Aug 27
108 J'ne 11
8 Oct 12
54512 J'iy 20
6014 Oct I,
1378 the
260 Apr .
173 Aug
7012 Oct 4
97 Apt 2.1
220 1'0)17
314 Oct 15
124 Oct 14
115 Oct 13
129 Sep 20
108 Oct 13
199 Aug /
12 Sep 29
11412 Aug ti
25 Aug 13
28 Oct 9
2 Apr '1
167 Sep 20
71 Oct 7
3114 Sep 21
9473 Oct 4
131 Oct 4
1234 Slay
90 J'ly
13 Jan
77 Mc,
4 Feb
913 Feb
9914 Jan
108 Feb
99 Jan
16 Jan
7734 Feb
3 Jan
91112 Jan
1.04 Jan
414 sic]
'201 ,•;c1.
111 Jan
36 Nov
911 Nov
12 Dec
'23 Dec
13734 ..301;
132 Nov
13212 Nov
32% Dec
9612 Nov
4i2 Dee
128
V
2114 Dec
• 8,3 Noy
253 Nov
162 Dee
60 Dee
90 Nov
77 Jan
192 Apr 215 Nov
3 Oct
1 Sc'
78 Nov
40 Slot.
93 Deo
75
123 Nov
105 Jan
51(3 "'Ile
79 Deo
17412 Nov
197 Jan
9 Apr
1012 Nov
86(3 Jun
10412 J'iy
24 Oct
20 Jan
2612 Dec
23 May
'213 Jan
114 Mei,
11412 Jan
148 J'iy
6238 Nov
3812 Jan
20 Nov
2478 Jar,
211 Jun
5834 Nov
8713 Jar' 114 Nov
012 Nov
4 Feb
8014 Dec
59 Jan
1'214 Aug
1012 Ma v2
,
112 ,Fel,
24 Apt
82 Oct 1
4112 Nov
8818 Nov
45 Feb
8878 Am; 2
20 J'nu
2034 Jan
3518 Oct 4
13 Nov
51% n‘, 4
28 Fel,
4058 Dee
4814 Sep 29
14 Jan
,90 Aug
40 Feb
1 Men •
Apr
1912 Nov
18 .83, 2
.25 (let
80 May
.75 Nov
1714 Slay
1818 Nov
1014 Apr
1114 Apr
22% Jan
25 . Nov
28 May 8
30 Aug
1513.Jan
119 Jan
93 Feb 130 Aug
695 Aug 13 r565 MCIt 700 Jan
4413 Sep 3
21 Feb
3634 Nov
.25 Mcb .45 Inc
.35 . a 15
8518 Feb
8378 Nov
8514 Aug 12
1173 Nov
7 Jan
12 .1 iii 19
534 Dec
10 Deo
1658 Apr 23
2% Nov
.99 NIci,
212 Jail 15
012 Apr
1913 Nov
19 Aug 3
1014 Aug 2
, 10 J'iy
80 Jarl
110 Jail 4
1318 Aug
1234 tel
678 Jan
1214 J'ne 10
712 Aug ,)
2614 Jan
3314 Feb I,
1734 Feb
938 Aug 19
2414 Dec
39 Aug 1, 10 Sep
1714 Jan
1214 Jan
1634 Feb 46
838 Aug
214 Itch
1814 Sirty28
.75 J'iy
.20 J'ly 2 .25 Jan
31., Dec
8 Jan
514 May10
1714 Aug 5
1512 Dec
04- Sep
1513 Nov
1314 Niels 4
714 Feb
73 Nov
45 Feb
7018 Jan 6
.2'; Dec
.40 Apr 0
8Jan
1,
25%8 Aug 12
8% Jan
1•034 Nov
13 Sep 21
4034 Feb
5514 18:1 2
8934 Nov
1178 Aug 9
.75 Aug 6 .50 Jan
1 J'ly
59 Aug 11
28 Jan
6012 Deo
160 Oct 4
77 Feb 13512 Dec
3614 J'new
1013 Jan
3118 Dec
to Jan 4
1/ Feb 100 Aug
158 Apr
278 Jan 8
3% Nov
1773 Jan 4
9% Feb
1914 Nov
3612 Nov
6213 Aug 3
14 Apr
1812 May28
204 Nov
1812 J'ly
1418 Oct
88 Nov
90 Feb '25
56 Mch
26 Aug
1758Jan '23
1218 Feb
1612 Nov
1614 dan
458 Mch
3034 Nov
9 Moll
38 Aug 12
4678 Nov
28 Mob
59 Sep 21
47 Nov
37 Feb
54 Oct 4
7 Nov
438 Sep
634 Jan 26
2913 Jan
50 Aug
4812 Aug 11
53 Nov
2878 May
54 Aug 12
212 Apr
5 Nov
512 May 6
€734 Nov
412 Jan
8% Sep 20
154 Aug 12 11512 Jan 155 Nov
4 Jan 15 .50 May 3% Oct
Ex-rights. ci Ex-diy. and rights.
OCT. 16
Boston Bond Record
19109.1
134)A its
BOSTON STOCK EXCIPu
WEEK ENDING Ocr 15
Price
P'ritlas
Oct 1.1
Week's
Range or
bast sale
•
a -4
985
ISONI)s
BOSTON STOCK EXCH.GE
W KKK ENDING OCT 15
Range
Janvarg
:Or
Week's
Range or
Last Sale
erIce
Friday
Oct 15
senc•
Januar,/ 1
-
high
A Sh how
how 11 tot,
01a
filo •se La
eiSh Low
lit 91% 4934 Illinois Steel sleben 58...J910 -J -J 100
41,- 92.8
93
93
'01 Oct '09
1VOL4101
Non-convert deben 58...1913 A-0 101. Sale 10034 101
, 9(3 994 1074
1116 4 Sale 1,15 14 1060
0018 101 12
la Falls 82stoux CDR 78..1917 A-0
83
83 Mar'44.. .••• 83
111 Apr'0Kan
C
190 Sep 04, .• 130 190
Clin
&
Snr
1st 58...192. A•0 t48' 97 4 4,7 Sep '09
94
1,7
181,,
100
Kan C Ft S & Galt ext 58..1911 -I)
10012 l00' 100,4 Oct '40+
100 Sep '044
100 101
. 940
. Kan C Ft Scott &
94 Oct 'oh •• •• 1193
116
94
6s....14125 M-N 11914
111414 1111 ,
7
1164 1204
1444 Oct.'MI •... 93
9412 Kau CM & B gen 45
90
04
1934 M-5 93
93 Sep'09
.0
93
, 1 10'24119
115% 1150
Assented income Is
1934 IVI.
91
91 Oct '01.
8012 9.212
1974 1201, Kan C & M Hy& Br 1st 581929 A-0 1034
12014 Aug'09
1199
104 J'ne'014
1034104
233,
7
,
73
59
71
Sale
7012
Mame
Cent
71
cons 1st 711 1912 A-0
.Nov100
1130
110 Feb'04
Cons lst 48
A-0
10114 Sep '03
10014 Mar'09
10O.
... look, Mara Hough &Ont tat63 1912
11425 A-0
115 J'ne'05
10412 Oct '05
Maas Gas 442s (recta)
1129
95% Salt 984
11511
. 51 984 100
112 12Jan '03
Mexican Central cons 4s 1911
86 Mann,
843
, 56
102 Oct '01,
102 102
18t cons mo 3s
Jan 4.939 J•iy
1116 Apr4P102 Sep '05
28 cons Inc Ss
Jan 1939
1115 4 .ipt'0
1141 72 Jai)'09
mtch Teleplst Is
.9ji 4.19
1917 J100 J'ne'01
......
Attune Geu Eleo con g Is 1929 J -J
10212 Ang'04
117 J'ile'08
New Eng Cot Yarn 5s
1929 F -A 10334 Sale 10::34 104
.1..01 1;, 40434
1114J'Iy 105
New Rug Teleph 58
1915 A-0
104 letsb'05
102 102
89
88
89
90 4,
As
SI
11110 A-0
5ep
10012
'05
1103 Oct '07
New England cons g Is. 1945 J -J
9908 Ply'09 ..•• 119;,
Boston Term 1st 45
7 31004
1931) A-0
100 Apr'08
N IN It 82 H con deb 34,81958 J -J
1094 109.4 15 97% 10414
100 Oot
994 100
Cony deb tis (ctts)
.191- J•
131 1114
141', Sep '09
102 Alay'ol)
Old Colony gold 48
13)112102
1924 F -A
101 Apr'09
101 101
99
944
Oreg
99
.
Ry 20 Nay con g 48 1946 -1)
1480
'04,
Sep
5
947
9818 9878
8117
Oreg Nth Line 1st g 68
. 81)7b
5915 92
11)22 F-A
11$78 51ar'llo
1181.1194
Repub Valley 1st a 1 6s 1919 3-4
103 Dec'05
......
101% Sale 101 41 102
Rutland 1st con gen 448 1941 J -J
14 101 12 104
1074 Nov'05
......
192
93 Oct '01
94
Rutland-Canadian lat 4819415 J -J
111
102 ;Mai'0'2
......
11814
.•_ 1184 1184 Savannah Elco 1st cons 58 1952 J-4
984
May'OG
...... .
Seattle Elea let g Is
126 F04'05
1930 -A 104
104
104;
1 104 10612
102%
Terre Haute Eleo g Is
103 '
,
en '013
101 103
1929 4
97 Apr'01
106 J'ly '01;
102 10614 Torrington let g be
1918 M'S
102 Aug'1111
109 102
Union Pao RR & 1 gr g 43 1947 J -J
91 Dee'07
......
10254 Api '03 ...• 102 1034
20-year cony 4s
1124.1an'03
......
1927 J-4
11012 J'ne'01. •..• 10268 110.2
Unitea Fruit gen s 1 4125 1923 J-J
96
96 Feb'09
96
913.2 Sale 96
96' 22 9505 '47
4)0
90
921.4 U S Coal & Oil 1st f 68 1935 M-N
91
90
87
150
150
S Steel Corp 10-60 yr 58 1963 M-N 1054 Sale 1014 1050,, 4( 120 155
0612 Aug'Of,
9612 1)7'-.
1024 1,781
/
4
10318 Apt'05
West End Street Ry 4s. 1915 F- A
100 12 Apruit ..•. 100 12 100,2
116 A pr'u,-.
Gold 4'28
1014 'ne'09 ...• 10014 102',
1914 M-5
Gold denenture 48
133 Mar'04,
.33 133
1010 M-N
9;14 Sep'
,/4) ..• 994 1004
140 .‘pr'05
Gold 48
1917 -A
oet '09
1140
.
99', 1003
97 sale
Western Teleph & Tel 58 1932 J.J
/
97
47 9614 99
99
9414 9912
474.18
,'6 1004
I 96,78 1184 Wisconsin Cent lst gen 481949 J -J
8158
10P,
954 Apr'0,,
.,37
. 9512
Nara-Buyer pays aceroeo ater,3st In addition to the purchase prlee for ali Boston Bonds.
No price Friday I (test Imo and asked. 11 Fiat once.
Am Teton & Tel coil tr 48.1921, J-4
Convertible
.....193,, M-5
Am Writ Pauer 1st s t 6s g 111111
J
Ariz Corn Cop 1st cony 68 1918 M-S
Aunt Top & S Fe gen g 48-11615 A-0
A diustment g 48
4'ly 1995 Nov
Stamped
J'ly 191I5 M-N
50-year cony 48
1915 J -D
10-year cony 58
1917 4- fl
Atl Unit & W1 SS Lines 58.'51, J -J
Boston Elect 1. consot 58.11124 51•S
Boston db Lowell 48
.19l6 .1-J
(baton & Maine 4.2‘.
1044 J.2
Beaton Terminal 1st 3128.14147 F -A
3ur
o Thy ex 68
P115 J -4
Non-exempt Us
1915 J -J
Sinking tund 48
riutte & Boston 1st 65
44 A-0
9
19117
Jedar Rap & Molt 1st 78 1916 NI-N
235 78
J
929: Q.
lent Vermt,lat g4m..May1
19
1 13 d1 Q Iowa Div let 58 19141 A-0
1919 A-0
Iowa Div 1St 48
Debenture 58
1913 M-N
1922 -A
Denver Exton 48
Nebraska Eaten 48
1927
B&SW 8148
1921 M-5
Illinois Inv 348
1949 .1 •
Joint bonus See (..4t Northern
Mio JO Ity & St( Yds 58.1915 -4
Coll t mat retunding g 481940 A-0
.18 Mil & St P Dub D 68_1920 J •.1
)h M dis St P Wit( V ,liv 661920 J • J
Chic do No Mien 1st, gu 55.1931
Ale & W Mich gen ($8
11421 2.0
,4oncoril & Mont eons 4s 1920 -1)
Conn db Pass It 1st g 48 11,4,, A-0
Current; River 1st Is
1827 A-0
Oct Gr Rap & W 1st 48.-1946 A-0
Dominion Coal 1st a 1 58 1940 5.5
4'iten burg 48
1915 M-5
48
192', .11.8
Fremt Elk & Mu V 1st 6s 1933 A.0
Unatanipeo 1st Os
11.133 A.0
G N ot C IS 82 Q coil tr 4s 1921 J • J
ilegistered 48
1.,21 Q..1
lila
• - -•
......
•• -•
•
.
......
•...
- •.
.....
•-
-•
Philadelnhia and Baltimore Stock Excinnges----Stock Record, Daily, Weedy, Yearly
share Pricea-Not l'er Centime Price.;
Saturdag
Oct 9
.17
38
akotuay
Oct //
1 nesttay
Oct /2
85'-. 85
1(164107
17
384
38 1;
.13
1054 106
17
18
88
38
.13
41
*40
4012
40
*457
. 4614 *4534 40
46.4
46
. 4634
451
, *1214 123
.
*12 74 123
. 5977, 5913k 611
596
*224 '23
'23
23
71', '/2'-. 71
73
,
304 301
117 4 11714
UV%
97
734
,731115
4814
124 127).
25
28
81151. 82
.0143 61118
53% 5,33,904 1)0-.
*4534 46
450
. 403
.
*1214 1238
59'-.. 59'-.
*22 12 223,
71
71
1212 1212
29
29%
117 117
95% 97
7234 73',
47.2 45
12% 13%
27,14 21 ,4
8074 8111
.
bilis 034
*52% 53
904 9'.
29'-. 30°.
116121174
9612 us A.
'13
7318
48
48
12% 11.'s
28
98
53,94.
61)10 OnIe
53
53
$411
. 4.0
l'1111.A1181.1'111A
Inactive StocItis
Allegheny Val pref. 59
64
American Cement
Amer Pipe Mfg
1(3
Bell Telephone (Pa) 103
Cambria Iron
oh
Central Coal & Coke.lot
Consol Trite of N 2...10(
Diamond State Steel It)
Preferred
It
Easton Con Electric 5 51
•Elec Storage Batt....101,
Preferred
101
109
Ft Wayne &W V
Germantown Pass
.5(1
Inthanapolie St
100
Indiana Union Tr
100
Insurance Coot N A..lt
Inter Sin Pow& Chein.50
Keystone Telephone ..5u
Preferred
50
KeyetoneWatcliCase.100
Lit Brothers
50
Little Schuylkill
Minelith & Selmyl H 50
N Haven Iron & Stee1.5
50
Northern Central
North P011118y1VaDia 50
Pennsylvania Salt
514
Pennsylvania 5160..100
109
Preferred
Phila Co(Pitts) 1)rof...50
Phil German & Norris 50
50
Phil(' Traction
10
Railways (Ieneral
8u8queli Iron & Steel .5
14)
Tidewater Stool
19
Preterred
Tonopah Mining of Nevl
100
Union Tr ot ind
United •N J RR & C 101;
Unit Tra0 PIUS pre(-50
Warwick Ironed Steel.lu
West Jersey & Sea81850
Westmoreland Coal .50
Wilkes Gam & Etec 100
But
Ask
40
......
1-1-41.1
46
4034
7634
00
125
224 2234
15
12',
115
57
61
109,
,
110
117
44
89
9
4412
'Jo
10
12
24934
1134
50
147'..
*Rid and asked; no sales on this day.
Wetcnesaat,
Oct 13
huratta4
Oct 14
trtaau
Oct 15
Sales
ACTIVE Kroctis
ot Ott
Week (lot Bonds and lnactire
Stocks see betonit
•Shares
39
*36
8412 8412 8412 8412
10641064 10612108',
*17
17',
.36
*35
35
374
*13,2 14
hange mace
Jan 1 193/
Lurve,
Baltimore
Con.Gas El. L. & Pow.100 30
41
Do pref
100 76
807 Northern Central
50 100
150 Seaboard(now)
100 1134
'18
Do 26 prof
IOU 2234
United Ry & Electric.. 50 934
It
Lowest
hitq/ez't
Mar 5 424 MaY1
Marie, 83 Mayli-Jan 4 111 Jan I.
Feb2f, 21 15.1'nels
Feb24 41 .13,11,
Feb
14',Augls
20 Jan
65 Mat
50 Jan
4 tees.
10 id
10 Jan
30 Dee
8144 Dee
102 Dec
15 Deo
26 Deo
12 Nov
Philadelphia
40
02 American Cement
40
40
50 377
.Apr13 43 Jan 1:
1 American Railways__ ou 4405J'Iy
4518 *4512 4534
4634 Cu
,Cambria Steel
4712 4734 6,42'
47
SO 327s Feu 23 19 Sep '21
. 125 Electric Co of America 10 .v10754an 29 127..Ply 14
12% 124 123
710 Elee Storage Battery..14.0 43 Jan
1.10
5912 60
634 'ly .su
139 Gen Asphalt tr cite __lift 15 42Jan . 23.14 Fob.
2312 *23
2312
1,962
72". 73
73
Do pref tr etts
53 Jan N 75 Oct 4
421, Keystone Telephone... 50 94Jan
124
12
15 AI 111
2812 30 14,651 Lake superior Corp....100 1434 Jan
2934 SO
.May 4
337
135 Lehigh C & Nay tr ctts 50 96 Jan 6 1214 Augl,
117 117
116', 117
960
. 9730 98 100 18,243 Lehigh Valley
50 67 F.b23 113 sop
7'314. 73%
7334 71310 5,714 Pennsylvania RR
50 634 Feb24 75', Sep 29
*4734 4812 45
354 Pluladelp'aCo (Pit'...so) 50 404 Feb 24 494 A.0111.
45
13% 13% 134 13'-. 31,555 Plithuielphia Eleetrict 25 11 14 Feb23 13% Oct I;
27
2752 27,4 28% 6,178 Phila Rapid Transit
60 247
.Jan 1 30 59
2,
,
81N
3'i
$2', 8331. 13,533 Reading
50 5912 Feb23 86,4 Sep 2 f
.65$
64
481) Tonopah Mining
"18
0..14
1 534 Jan 13., 7134. Mara°
5234 53
b:s
53
1,021 Limon Traction
.Jan 5 587s May 4
50 T07
904 90%
904 907p 3,450 United Gas Inuit
50 84', Nitty13 144', Feu
40
4575
464
*124
59 4.
234
72
i 1,Alik.1.1•1111A
Bonds
_Prices are all and
interest."
Al Val 8 ext 78 1910 A-0
Alt &LVEleo 1 128'33.F-A
Am Rya c,onv 58 1911..14)
AU City let Sag ,19.51-N
Berg& Ellrw 1st 68'21 J-J
Bethle Steel Os 1998.Q.I.
Choc& Moist58 1949 J -.1
Ch Ok & G gen 58'19 J-4
Col St Ry 1st con Is 1932
Con Trac ot N J 18t 58.'33
E&A lst AI Os 1920 51.N
Elec & Peo Tr atk tr ctfs
Ea Ii Gas-1,1st g 5s 1928
Inthanapoli8 Ry 48.193:;
I nterritate 45 1943 .. N'-A
Lehigh Nay 448 '14.1.14
Kits 4s g
1914.Q-1.•
Gen It 4128 g 1924.4-1,
hell V (1 1st 58 g '33. 44
Lelt V ext 44 1st 1948.J-1)
28 7a 1910
141-6
Consol 68 1923
-1)
Annuity Us
J-1)
(Ion cons 48 2003.M-N
Leh V Trau con 48'35J.L
New Con Gaa 58 1948 J -D
Newark Pass con Is 1930
NY Ph& Nolst48'39J-J
Income 48 1939.-51.N
No011ioTrac con:18'19.J 4
Penn gen 6s 1910
Vat
Consol 58 1919
Vat
Penn & Md Steel con 68.
Pa & NY Can Is '39.A.0
Con 48 1939
A•0
Penn Steel 1st 58'17 51•N
People's Tr tr certs 4s'43
P Celia& col tr 58'49 51-6
Cou& cot tr Is 1951M -N
P1111 Elec gold truist etts
Trust corti/8 4s
1' & E gen 51 1 g '20.A.-0
Gen M 4s g 1920..A&O
1110x-rb,.7.11ts. II $7.30 pahL
Bid
Ask
1014
94
9712
117 4 1-.
1 4.12
113 115
10512 10534
106
109 110
14212 113
.55..
813
109 59
109
10234
119 121
150 151
97 4 9734
109
107
10177
.101 4
,
118
105
91)
984
103', 1(13'-,
75% 757k
$1214 paid.
111111.A
111.1'11 IA
Ph & Read 28 58 '33.A.-0
Con Al 78 1911
J-D
Ex Imp M 48g'47 A-0
Terminal 5s g1941 Q-F
P W & 11 col It 4s'21.J-J
Portland Ity 1st 58 1930.
Roch ity& Leon 58'54J4
Spanish -Am Ir tis '27 J4
U Trao Ind gen 58.19.J.J
Uu Ry8 Tr etre 4s'49J&J
United Rys luv 1st colltr
8158 1926
/41•N
U Trite Pit gen 58'97 J-J
Weis bitch s t Is 1930.J-D
W1104-11 (4.11E con5s'55J-J
BALTIMORE
Inactive Stocks
Ala Cons Coal& It on 100
Pre(
100
Atlanta & Charlotte 100
Atlan Coast L (Conn)104
Canton Co
100
Cons Cot Duck Corp .50
Preferred
50
Georgia Sou & Fla .100
let prat'
100
28 pref
100
G-B•8 Brewing
100
Bombs
Prices are all"and
interest."
Anaeostia & Pot 58
Atl & Ch ext 41
/
4s '10.34
Atlau C 1, 1tR4s195251-S
Atl Coast L(Ct)ctfa 56J-1)
CBs of indebt 45....J -J
.14
5-'20 yr 48 1925
halt C Pass lat 58'11 M.N
halt Funtlg 58.1916 M.N
Exchange 3128 1930.14
Balt& P 1.18.68m I'll AA)
B SP&C 18t4 428'53F-A
halt Tram 1st 58-'213 51.24
No lialt Div 5(31942 J-1)
Cent'l Itycon5811132 M.N
Ext& Imp 58.1932 MS
ilia
,,ange tor Prev,otts
,
Sear)
Ask
324 Mai 43 Deo
44% Mai 443'-, Nov
2678 Feb 40 Dee
872 Jan 11 14 Deo
2412 Feb 4/-, 4)..e
312 Jac 1936 Dec
.441i. 194 Deo
197
9 Slay
4',o an
308 Feb 17 Deo
1 , Deo
78', Jan 97'
52% Feb 76% Deo
5.9,18 Jan 06114
34', 5151 4434 Deo
54 Fel. 14% .tov
9124 I'll, 25 12 Dec
483;. Feb 71114
.Deo
37 Jan
4 Apr
r441.
4 J'ue 5114 Apr
7315Jan 94% Inas
11A1.11.tiOas it
11812120', Chas City Ily 1st 58'23 J-4
Chas Hybl & El 58'91) ALS
Charl C.& A 21 7810 A-0
120
City & Sublet 58..'22.1.1)
100
City ob Sub(Was)lat 58'45
Coal & I By 1st 55'201e.A
100
Col &Grnv 1(468.1916J-3
103
Consul Gas 08...1910 .1-14
95
Is
.1939 J-1)
58'- Oa& Ala 1st con 58'45.14
CiaCar&N 18t5ng'29J.4
844 85
Georgia P 1st 68...'22
107
GaSo & Fla 1st 5811145J-3
(3-B-s Brew 3.4(3195151-8
86
1011..
28 income 58 1951 51-N
Knokv Trito lot 58'28A-0
hakelt El 1st mm58'4251,6
40
Macon Ity& Lt181,58'51..J4
35
.55
Memphis st [at 58'45 J-J
03
Metbit(IA'ash)181514'25 F A
310 31712 Mt Ver Cot Duck 1st 58.
97
.51st N&O P 18t 58'38 M-N
98
51
612 Norfolk St 1st 58
1912 20., North Cent448 1925 A-0
Series A Is 1926. .J4
95
Series B 58 192(.3. .J-J
9112
Pitt Un Trac 58 1997.J4
75
Polo Val 1st 5s 1941...T4
21
/
4 3
Say Fla &WestIs'34 A-0
Seaboard A L 48 1950 A-0
Seab & Roan 58 1926.J.4
103 10314 South Bound 1st 58..A.0
(Jill L&P 1st4120'29 M-N
100
954 96
Ry & El 1st 48'44) 51-8
105
Income 48 1949.....J-D
85
PO
Funding Is 1936. .J-D
921, 9312 Vs Mid 2d set 68'11.51.5
lt4034
3d series 68 1916..ALS
105 106
4th ser 3-4-58 1921.51-6
98
99
6th series 5s 1926.51.S
102
Va (State) 38 new'32.34
934 94
Fund debt 2-38 1991..1.1
110
West N C con 68 1914 J4
113
WeaVaC&P
6g'l1 34
110;
WU & Weld 5s..1935.J4
110 ;
1
Biu
Ask
100
90
92
102
108 109
10312 1044
1(42', (13
109 112
1(1012 101
111 1114
10434 R154
105 105 44
11512 117
109
44
1412
13
144
06 106
107
95
.413
99
1041 14
108
17
7714
95
105
103
112
1.12
107
103 108
108
89
91
1075, 108%
1013
07
921
/
4 934
87', 8734
58
584
85
10(12 10212
106
105
107
90
90
1u6 108
1013, 10214
11'2 118
$134 paid. *4135 paid. a Receipts. b .125 paid. G&W paid. 44;4212Paid.
Volume of Business at Stock Excrianges
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY.
Stocks.
Week ending •
Oct. 15 1909.
Saturday
Monday
Tuesday
Wednesday
Thursday
Friday
[VoL Lxxxix
THE CHRONICLE
986
Shares.
Par value.
Railroad
dec.
1
Bonds.
364,252 634,300,200 $1,778,000
3,447,500
1,119,964 102,538,900
HOLI DAY
3,832,000
859,584 78,355,900
3,501,500
931,008 87,403,300
4,065,500
1,146.977 107,799,450
State
Bonds.
$79,000
157,000
U. S.
Bonds.
$3,000
6,500
felegrap4 Cc Telephone
e Amer Teieg & Cable_100
Central & So Amer__1(s0
Comm'l Uu!Pel (NY)... 25
Emp & Bay State Tel 00
Franklin
100
e Gold & Stock Teleg_100
NY &NJ Teieph-See St
9 Northwestern Teleg_ 50
25
Pacific & Atlantic
Southern & Atlantic
25
Bid
75
110
110
65
43
110
Is Exc
112
70
92
Ask
85
12 /
120
75
50
120
list
120
8(3
98
Induatr 1 and Al see .
Consol Rubber Tire.. 100
10f
Preferred
Debenture 4s 19 1 A&0
Con, Steamship Llnes_100
Coll r 48 1957 rcts J
Corn Prod Ref-See Stock
c Crucible Steel
100
e Preferred
100
Cumberland-Ell Copper.5
cDo
Dula
glmas
on
cd
opAp
leartch Co_100
Bid
3
19
34
Ask
5
23
36
23
20
Exc list
1418
14
8312
83
4318 753/3
127.12 12734
*lb" 1116
Econ'y Lt & P (Joliet. I105
93
1st AI :1 g 5s 1956-14) 96
22
Electric Boat
100 37
65
Preferred
100
Empire Steel
100 1(5.Preferred _
100 70
°Federal Sugar of NY-See Stic E
SOS
eGeneral Chemical
100
5101
e Preferred
100
Goldfield Consol Allnes_10 *934 S1316
*78 1.4
Go d Hill Copper
1
*1014 1638
Greene-Cananea
Guggenheim Explor'n 100 214 218
eHackensack Water Co
91
Ref g 4s '52 op '12 _J &j 89
55
Hall Signal Co
100 '50
8
10
Havana To:)acco Co.. 100
25
Preferred
100 15
68
1st g 5s June 1 '22-14) 63
Heeker-Jones-Jewell MIII
10612 10812
1st 6s 1022
31
36
Her'g-Hall-Mar, newil_131410:0
,
Hoboken Land &Imp_100
-1;Ci7g
e 5s 1010
Houston ()II
812 834
100
Preferred
100 31/
Hudson Realty
100 100 116"
ii Ingerroll- Rand com_100 75
9(1
c Preferred
tnternat'l liank'g Co_100
101) 140 igO
Internat'l Mer Mar-See S tic Ex list
International Nickel_100 125
Preferred
100 87 -661st g 5s 1932
A&0 91) 92
912 1012
International
100
55
1st g 5s 1051
A-() / 45
to ernational Silver_100
712 10
Preferred
100 90 IOU
1st 6s 1948
J- D 109 111
.ntern • -t Smelt & Re T100 132
Jones & Laughlin Steei Co
1st s f g Is 1930__M-N 10112 102
60
Lackawanna Steel
100 57
Railroad
Lanston Monotype__. 20 *18
1812
Atch Top Bo Santa Fe"at di hter,st" except where marked "f."
Al! bond nri es are n''w
Lawyers' Mtge Co_
100
Convert 48-See Stock Exc list
28
.Leh & Wilkes-13 Coal 50 120
Chic Gt West com(w 1)100 27
100
110
5612
Lord
h
Taylor
Ask
Bid
Bid
100
Ask
Street Railways
Street Railways
Preferred (w 1)_100 5512
Pub Serv Corp N J (Con)
Preferred
100 98 103
New Y rk City
Chic Peo h St L pret 100
eLarIllard (P) pref_100 130
Rapid Tran St By.._100 240 250
28
Ill
Blecck St & Full stk_100
Deposited stock
40
--- Madison Sq Garden_100 25
65
1st 5s 1921
A-0 106
Undeposlted stock.._
el t mtgc 4s 1950_J-J 60
2(1 6s 1919
NI-N 80 100
JO Hob & PatersonPrior lien g 43.0'30M &S 116'- -e D'y Fe 7th Ave stic__100 140 155
79
M-N .78
43 g 1049
Con mtg g Is 1930_J&J 1 48 --- Manhattan Tran.dt___ 20 *178 2
e Ld mt •e 5s 1914__J-J 1100 101
Mitchell Mining
'
1
So J Gas E1&Trac_100 132
Income Is, July 1930.... /
Con 581040-See 1.•_tock Ex:: st
;52
752
Nfonon.,•a;tela.R Coal__ 50
Gu g 5s 1953_ _M-S 99 1-00 Chicago Subway
100
B'way Surf 1st 5s gu 1924 102 104
*22
102
Preferred
105
Co
No
Had
By
6s'14
J-J
10612
Ft
W
&
Den
Cy
std_
_100
9712
-__
--__
stk__100
Cent'l
Crosst'n
o
11212
1061106
J-J
Mortgage Bond Co___100
Is 1028
Kansas City Sou 53 Apr 1
- 1st mtge Gs 1922_M-N i --- -95
Nat Bank of Cuba____10r nI00 fiO"
Ext 5s 1924_ __M-N 100 103
1950 (w I)-See Stock Exc list
40
e Con Pk N & E Rstic_100 -30
Nat'l Surety
100 185
Pat City con 8s -31_J-D 119 122
90
Nat Rys of Mexico-See S tk Ex list
e Chr't'r & 10th St stk 100 80
11212
125
Nevada Cons'd Copper :5 *2334 2(178
al Os opt 1914__A-0 100
North'n Securities Stubs_
Col&Dth Ave 5s See Stocl: Enc list
134
38
Nev-Utah Mln & Sm.. 10 *111 15
••;i3 Side El (Chic) See Ch Icago list
Dry D E B & BPitts Bess & L E
50
60
72 °New Central Coal
20 40
Preferred
50 *68
c 1st gold 5s 1032__J-D 971: 100 Syracu -e R T Is'46_M&S 103 105
50 Trent P & H 5s 1943_J-D 95 100 eRallroad Securities CoNY Air Brake 6s-See Stk Exc list
c Scrip Is 1914____F-A / 45
N Y Biscuit l's 1011_ A..: /100
Eighth Avenue stock_10t 250 300 ilnited Rys oi St Lll! C stk tr cfs see A '52 90
e New York Dock__ _100 36 "ig
Coin vol tr ettg
100 21
2112 Seaboard Companye Scrip G:. 1:;1:___;7-A / 05 100
81
e Preferred
100 78
c Preferred
100
100 0034 70
1st preferred
e 42d & Gr St F'y stk..100 175 210
N Y Mtge & SecurIty_100 235
Gen 4s 1934-See Stock Exe list
Corn & 2(1 pret-See Bal I Exc lIst
--- ---42d St M & St N Ave_100
N Y Transportation.... 20 *4
e 1st mtge Os 1910_M-S -9, 100 UnitRys San Fran See Stk Exc list Seaboard Air Line104
108
59834 Niles-Bern-Pond com_100
46
Col 5s ext May '11 M-S
100 46
2d income Gs 1015_J-., / 50 ---_ Wash By & El Co
9312 Union Pacific 4s-See Stk Exc ibt
5 *1138 1112
Nipissing Mines
100 93
Preferred
Inter-Met-See Sti: Exch Inge list
214 314
10(
8818 West Pac 1st 5s '33 M-S 9714 9712 Ontario Silver
J-D 88
4s 1951
Lox Av &PavF Is See Stk Exc '1st
60
100 58
Otis Elevator own_
Me,ropol St R.,-See SC: Eno 1st
Industrial and Miscel.
99
Preferret:
100 96
(ins Securities
Ninth Avenue stoek__100 160 170
20
New York
Adams Exp g 4s 1947 J-D / 9334 9412 Pittsburgh Brewing.... IC *2312 2378
18
Second Avenue st,,c1:_10(
4134
Preferred
50
1..,nt Un Gas 5s '27 J-J 102 103 Ahmeek Mining
25 *210 240
96 100
e 1st mtge Is 1909M-N
71 Con Gas (N 1
Pittsburgh Coal-See Stk Exc list
,
)-See Stk Exc list
100 115 1.1
Alliance Realty
Consol 55 1940-----Al 74
47
PopeMtgCo corn(new) 100 44
100 147
Allis-Chalmers Co 1st mtg
0l. 110 120 e Mutual Gas
.
e Sixth Avenue stoJk..1
6
85 New Amsterdam GasPreferred (new)
100 81
s f 5s 1936-See Stock Bac list
Sou Bailey Is 1945.___--J 60
1E consol 53 1948__J-J 101 103 American 13c,ok
93
Pratt h Whitney pref_100 100 105
100 150 155
So Fee 1st 5s 1919_ _A-0 80
100 125 130
Producers Oil
American Brass
100 114 118
Third Avenue-See-Stock Ex, us: NY& ERGa, lot Is '44 J-J 100 105
9.) American Chicle com_100 228 232
95
80
Realty Assoc (11klyn).100 133 138
Consol 5s 1945
J-J
Tarry W P & AI 5s 102; / 50
45
Royal Bak Powd corn..100 160 170
N Y & Richmond Gas 100 35
90
Preferred
100 106 108
YkersStRR5s 1946 A-0 85
107 110
95 100
Preferred
25 Nol: Un 1st 5s 1927__M-N
Am Graphophonc corn 100 12
28thh29th Sts Os '06A-0 20
29 Safety Car Heat & Lt_1
55
100
1) 129 131
Preferred
100 27
e Twenty-third St stk_100 LOO 250 . Standard Gas com 100 30
25 *75
100 60 80
e Preferred
100 132 134 Seneca Mining
Amer Hardware
Union Ry 1st Is 191' _ F-A 100 102
100 4/0 481
75
1st Is 1930
Am Malting 6s 1914-J-D 103 10412 Singer Mfg Co
M-N 102 106
Westchest 1st 5s '43 J-J 60
Amer Press Assoc'n_100 95 105 South I & com(w _100 1812 1912
Ot.'wr Cities
Brooklyn
52
Preferrt.d (et 1)
100 50
.Am Gas & Elec COM- 5C *44
Allan Avenue RR4512 Am Soda Fount com_100
3
115
50 *42
44
Standard Cordage..
100
100 20
Preferred
1st preferred
Con 5s g 101 .____A-O 98 101
/
20
:10
2
A-0
red_
lit
g
55
'31
278
273
preferred
luo
M
100
95
.1iner
Light
&
2d
Tract-100
B B & W E 5s 193;_.__A-0
I.
3
Adjust M Is Apr I 1031
Pre erred
100 106 108
Am St Found new-See S tie Es list
Brooklyn City Stock_ 10 5190 1114
30
Standard Coupler corn 100 20
78 1
30
6s1035
AM) 1021, 104
Con Is-See Stk Each .nge list flay State Gas
701,
100
100
7112
Preferred
1923
102
Deb
4s
F&A
98
BIngirt'n (NY) Gas Wks
BkInHgts 1,
t Is 1941 A-0
1812
Standard Milling Co 100 16
50 21212
99 American Surety
1st g Is 105`k
A &O 95
Bkin tjueeas Co & Sub55
57
Preferred
American Thread prer I *414
c 1st g 3_ '41 op '16,..1-,, 97 102 Brooklyn Un Gas-SeeStk Exc list
83
87
M-"
1930
445
450
1st
4s
Ilit
Tobacco
Co
com
100
Ex;
l!tii.'a:o City Gas stk__100
5
912 Am
Con guar Is-See Stoc1
45
50 Standard 011 of N 3_100 6.05 705
Amer Typetders com_ 10,
1st Is 1947-See Stock Exc list
Bklyn Rap Tran-See Stl, Ex: list
4 Styli t & Co-Sec Bost Stk Exc I1st
Preferred
'on Gas of N 5s '3C_J-J 00 94
100 97 101
85 100
Coney Isl & Bklyn__10‘
_s 10034.
-J
0
1st Is 1910-1' 14.,_1J0
3
Amer Writing Paper_le0
8, 9., Consumein• L H & Powill a,ns g lq 1943__ I-16 165
Texas Company
Preferred
100 2512 2712 T
5s 1938_ _ ...____J-D 109 85
Con g 4s 1955.._J&J 75
at) e'resits it Pacific Coal_100 90 100
8
1st s g Is'11) op '09-J-J 87
Brie e & N Is 1039 .1-3 '.:5 10:i Denvcr Jas -& -Elec___100 st4J 1413153 158
rItie his Co of N Y
Gen :: Is 1949 op_M-N 95
9512 AtiGf&WIndSSLines_100 1,12 12
Gr'n't&LorSt 1st ,;4; M&-‘, ---- -- ronopah Min (Nevada) 1 *691/3 61116
29
Preferred
100 27
Kings C E. 4s-See Stoc: lia.; list- i.:lizabeth Gas Lt Co_100 275
6
10
72 Trenton Potteries corn 1,0
J-J / 7),
Co; tr g Is 1959._
100 _--- - - Essex & Hudson Gas_100 133 145
Nassau Ele pret
65
Preferred. new --130 55
60
7ti
Barney & Smith Car_ _100 40
A-0 101 1-07- Uas & El Bergen Co....100 /4
• 55 1944
20
3212
rn°1\o'UD'ilyrepeetwoirity
99 102
Preferred
100 103
Gr Rap 1st .58 '15_F-A
1st 48 1951-See Stock Ex.: .1.E.
er com 1.0%
1 ) 65 69
U
r
100 131 133
Bethi'm Steel Corp-Sec: tie E: 1st
95 Htukon Co (laN W'bg&Fla*: 1st ex 43i.. 90
1
2s
dt
100 113 115
30
Bliss Company z.om
50 123
Steinway 1st 6s 1022-J-J .103 .... Indiana Lighting Co__100 2$
preferreded
100 113 116
70
F-A 68
Preferred
50 125
4s 1058 op
Other Citie::
55
40 I3ond & Mtge Guar
50 25
100 270 3278 United Ilk Note Corp_ 50 *52
Indianapolis Gas
Buffalo Street fly55
Pfeferred
00
50 *53
A-() 150
I3orden's Cond Milk 100 121 124
1st g Is 1052
1st consul Sc 1031_1-A 10712 10812
84
United Cigar Alf_s
100 81
Preferred
100 105 110
A-0 116 108 ,Jackson Gag Is g' 37,A-0 95
Deb 6s 1917
*614 638 c Preferred
100 106 1t9
100 10414 0112 British Col Copper
Columbus (0) St Ry_10, 9514 9614 .Laclede Gas
914 912
2512 UnIted Coppe •
100
_100 97 100
Butte Coalition Mining 15 *25
e Preferred _
t514
100
Preferred
30
100 26
Preferred
212 4
ladison Gas Os 1026_A-0 103 108 Casein Co of Am corn_100
Colum By con 5s-SeePhi •a list
55
65
215
(J
130
132
Q-J
100
S Casualty
100
Preferred
CrosA'wr. 1st 5.; '33 J-D 103 106 Newark Gas Os 1944
100 52 -66U S Envelope com
78 Newark Consol Gas 100 100 '01 Casualty Co of Amer_ _10G 125 140
0 Conn thy & Ltg com_10t, 74
100 130 133
Preferred
100 110 113
J Con g Is 1043_ J-D 1061• 10712 Celluloid Co
55
80
e Preferre:
10
0
100 112
U S Flnishing
No Hudson L H & PowCent Fireworks com 100
1st C.: ref 435_-.'see St:: ..:::c list
100 55
Preferred
100 110 fir
Preferred
70
A &O 106
Is 1938
_ 103
Grand Rapids Ry
100
3
100
4
U S Steel CorporationPacific Gas & E, com_100 571, ii., Central Foundry
-g
Preto:red
•
100 15
92 100 91
Preferred
17
Col tr s t 55 '51 opt '11 11434 11518
Pr,ferred
e Louisv St Is lt,30__JC), 10714 lUi 38
68
Col tr s f 5s'51 not opt 11434 11513
72
97
Deb 6s 1919 op '01-A1-N
Lynn & Dos 1st Is'24 J-1, 106 117 i'at & Pas Gas& Elec_10t 93
60
Co....
10212
101
Mfg
100
670
Chescbrough
S
Tit Gu & Intiern_100
M-S
•
U
1949
5s
o•New Oat Rys e5 14,
c
Con
g
2112
,t_10.;
07 City Investing Co
93
100 (30
64 °Utah Copper Co-See Stk EL-Cr list
545, -5-5- St Joseph Gas 5s 1937_,J-J
c Preferred
10
100
10( 98 103
Prete:red
Waterbury Co com
Gen M g .<3.1s'35 SeeS tic Ex list
100
Preferred
cClaflin (11 131 com_100 102
Pub Serv Cori, of N .1_10G 104 106
Electric Companies
10C 90 '
IN - Westchester & Bronx Tit
clst preferred
Tr ctts 2% to 670perpet 94
95 Chica ,o Edis n Co-See C leap oils)
100 155
100 90
& Mtge Guar
ad preferred
• Coll 5s g notes '09.M-N 100 10038 Kings Co El L&P Co 100 129 132
Westingh'so Air Brake_50 *142
El Co_ 50 *9112 94 Col & Hock Coal.ScI pf 100 78
North jersey St Ry_100 50
95
.
___ sa.Tagan(ProV)
J-J 00
West El & Mfg 5s-SeeStk Exc list
40
95
1st g Is 1017
80 -bl N Y &() El L&PowCo_100 37
1st 4s 1043
1.1-N
10
98 13
White Knoo Min
100 70
73
00
4
(is Oct 195C .--J
Preferred
Col
77
76
Cons Tract of N J__10;
Preferreti
100 2712
'-D .1 0512 t0612 (Jolted Elee of N J_ _100 75
, Consol Ca: Heating
1st Is 1037
781.) 701; Coas fly Lgt& Refrig_ 100
Worthi:tr: Pump rt-e _100 11)7 fir
1-D
lot ,,, 4o 10,0
108 11)'
'::0 • Per shaze. a Ex-rights. I. Basis. c Sells on Stk. Ex., but not very active f Flat price. is Norn. s Sam price, a Ex-dlv. y Ex-rIgh.s. z Now Stock.
Ferry Companies
95
B & N Y 1st 6s 1911_J-J 90
38
NY &ER Ferry stk_100 34
1st Is 1922
NY&Hob Is May '46_J-D 98 .01
Hol)Fy 1st Is 1946 N1-N 1061: 10712
97 10.)
$572,000
$9,500 N Y & NJ 5s 1946____J-J
Total
4,421,785 6410,397.750 $16,624,500
42
10th & 23d Sts Ferry_100 38
72
67
mtge
5s
1919....J-D
1st
Jan. 1 to Oct. 15.
Week ending Oct. 15.
Sales at
30
e Union Ferry stock_ _100 25
New York Stock
e 1st 5s 1920
11.1-N 95 97
1908.
1909.
1
1900.
1908.
Exchange.
Short-Term Notes
167,933,894
4,421,785
2,702,612
143,497,313
Stocks-No. shares___
99
$410,397,750 6244,955,200 $15,364,970,500 $12,406,385,775 Am Cig ser A 4s '11 111-S 9812
Par value
Ser 48 Mch 15'12(11-S 0712 98
670,100
$12,500
5112.700
Bank shares, par
Am Tel & Tel g Is '10_J-J 100 10038
Bonds.
10038 mos,
$496,700
$9,500
$467,620 Atian Coast L Is '10_M-S / 69
Government bonds
72
'08_M-S
30,706,900
5572,000 $1,094,500
72,274,500 Cln Ham&D4
State bonds
97
9712
Col
tr
g
4s
1913____J-J
1,044,848,100
20,047,000
16.624,500
bonds
666,969,200
misc.
and
RR.
COO & St L 5s, June '11 10118 10158
617,206,000 $21,141,500 61,076,051,700
6739.711,320 Erie Os, Apr 8 1911-A-0 : 1-63-1-2
Total bonds
1
4
Interb R T g 6s 1011 A1-N
KC Ry&Light 6s '12_M-S 9914 9934
DAILY TRANSACTIONS AT THE BOSTON AND PHILADELPHIA
Lack Steel Is g 1910_M-S 9938 0934
EXCHANGES.
Lake Sh&M So Is '10 F-A 100 10038
Lou & Nash g Is '10_111-S 1003,, 10034
Philadelphia.
Boston,
Mex Cent Is July 1 1910 100 10012
F-A 100 1O0.3
Week ending
Mich Cent Is 1910
99
9934
Bond
Listed 'Unlisted
Minn & St L 5s '11_F-A
Listed Unlisted 1 Bond
Oct. 15 1909.
shares.
F-A 100 10038
shares.
sales.
shares. shares,
sales,
N Y Cent Is 1010
N 'IC Lines Eqp Is '10-27 54.30 3%
5,988
0,280
534,800 NYNH&H 5s'10-'12 10014 10212
14,778
7,704
511,000
Saturday
13,851
20,847
31,800 Norf & West Is 1910 M-N 10038 10078
99,000
18,043
30,127
Monday
HOLID AY
8,640
134,000
15,786
Pa RR Is Mch 15 '10 /11-S 10038 10034
Tuesday
97,200 Public Service Corp 5s- See Sr its
26,515
15,590
17,003
132,000
21,899
Wednesday
23,498 -36,580
69,100 St L & San Fig 5s '11 J&J 0334 9934
113,500
25,551
18,924
Thursday
30,719
41,219
89,000
35,427
193,000
4 %%g notes'12op F&A 1.512 0612
22,306
Friday
South fly g 5s 1910 F-A 100 10038
143,578
92,620 $682,500 103,863 120,224 $321,900 Southern By 6s 1011_M-N 100 10018
Total
Tidewater 6s, 1013, guar 10214 10234
Westingh'e El&M Gs 1010 10014 10034
Outside Securities
86,000
133,500
116,500
OCT. 16 1909.]
THE CHRONICLE
987
inuestment and. 4:Railroad tntellipaence.
tIAILROAD Gi-tOSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from cirhich regular weekly or monthly return!
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period. The returns ol the street railways are brought together separately on a subsequent page.
LatestGross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Current
Year.
Previous
Year.
5
5
5
Ala N 0 & Tex Par.
286,110 245,676
669,826
789,966
N 0 & N East__r September
351,058
137,961 120,067
390,237
Ala & Vicksb__ -r September
125,364 112,636
327,204
342,012
Vicks Shr & Pac.r September
6,466
8,768
4,638
11,261
Ala Tenn & North_ Au rust
8,959,839 7,409,685 16,702,111 14,508,567
k Atch Top & S Fe_ August
478,269
48,111
43,020
638,039
Atlanta Birm & Atl 1st wk Oct
Atlantic Coast Lint. August __ 1,794,562 1.575,574 3,657,603 3,317,912
Baltimore & Ohio_ _ August __ _ 7,502,629 6,825,124 14,453,501 12,974,681
376,687
Bangor & Aroostook August -__ 226,00
105,352
445,135
5,801
17,851
Bellefonte Central__ September
6,965
14,375
Boston & Maine_ -_r August ___ 3,952,534 3,519,391 7,674,900 6,794,514
11.147
5,068
Bridgeton & Saco R August __
10,963
5,778
Buff Roch & Pitts_r tat wk Oct 180,092 172,704 2,635,083 2.097,274
351,733
426,978
Buffalo & Susq___r August _- 224,875 181,600
Canadian Northern_ 1st wit Oct 298,200 246,400 3,025,600 2,624,000
Canadian Pacific_ _ _ 1st wit Oct 2,175,000 1,599,000 24,890,015 20,584,838
Central of Georgia_ 1st wit Oct 277,600 269,500 3,065,983 3,027,655
Central of New Jer_ August ___ 2,297,031 2,151,942 4,493,941 4,316,666
622,237
341,790 333,745
Central Vermont_ -r August _
668,774
Chattanooga South_ 3d wk Set)
1,716
1,311
Chesapeake & Ohio. 1st wk Oct 575,729 536,498 8,326,017 7,233,534
Chicago & Alton By 1st wk Oct 260,557 272,095 3,776,271 3,651,588
Chic Burl & Quincy August
7,900,803 6,918,604 14,726,611 13,189,767
Chicago Great Wet 4th wit Aug 262,415 273.422 1,379,888 1,393.277
Chic Ind & Loulsv_ 4th wk Sep 146,157 143,424 1,522,590 1,419.059
Chic Ind & Southern -See New York Cen tral.
Chic Milw & St Paul August
5,550,001 5,339,460 10,760,458 9,091,869
Chic & Nor West.-r August __ 6,604,756 5,770,644 12,501,028 10,985,829
Chic St P M & 0_ _r Nugust - _ - 1,220,018 1,098,580 2,343,004 2,097,068
Chic Term TransRR June
91,684
86,082 1,091,817 1,095,518
Cin Ham & Day--r July
664,823
755,050 664,823
755,050
Cloy Cin Chic h St I. -See New York Con
395,372
Colorado Midland r August
302,190
192,119 202,023
h1Colorado & South 1st wk Oct
332,471 288,175 4,365,594 4,081,013
17,244
Colum Newb & Lau July
19,723
17,244
19,723
75,800
Copper Range
July
77,921
75,800
77,921
10,271
Cornwall
27,990
August
5,452
15,117
46,532
75,582
COrnwall & Leban_ August __ _
23,533
36,471
281,629
325,638
Cuba Railroad
August
163,209 127.843
1Delaware & Hud
August -_ 1,662,778 1,577,115 3,248,916 3,063,143
Del Lack & West_ _r August _ _ 2,887,198 2,616,370 0,055,424 5,475,610
Deny & Rio Grande 1st wk Oct 485,800 437,400 6,627,800 5,846,624
239,898
14,829
23,018
316,211
Denver N W & Pac 4th wit Sep
46,150
426,690
46,047
400,255
Dot Tol & Irent Sys 4th wit Sep
51,360
56,298
460,993
4th wk Sep
Ann Arbor
494,739
24,594
20,354
340,111
Detroit & Mackinac 1st wit Oct
314,893
1,354.306 081,989 1,354,306
981,989
Dul & Iron Range_r July
56,202
76,529
991,608
Dul Sou Shore & Ati 1st wit Oct
755,750
582,650 509,433 1,189,084 1,059,710
El Paso & Sou W_.r August
Erie
August
_ 4,559,734 4,338,692 8,839,283 8,502,349
Evansville & Terre Rautc-See Rock Is land Syst cm.
3,245
Fairchild & Nor B. August
1,839
3,623
1,681
Fonda Johns & Giov August _
79,3:10
157,630
85,754
170,961
Georgia Railroad .._ August
226,250 205,661
427,943
423,735
Georgia South & Fla -Se.: Scut horn Ral way.
Grand Trunk Syst_ _ 4th wit Sep 1.179,150 1,050,980 11,310,597 10,338,722
Gr Trunk West_ _ 4th wk Sep 140,017 145,679 1,570,633 1,468,578
51,239
503,542
Dot Gr Hay & Mil 4th wk Sep
44,908
454,683
59,921
Canada Atlantic_ 4th wit Sep
43,808
531,002
523,372
Great Northern Syst September 6,547,668 5,861,777 17,420,519 14,772,742
Gulf & Ship Island.. August __- 157,928 131,657
262,771
313,858
Hocking Valley
August
644,181 615,314 1,175,447 1,145.835
_ September 5,014,564 4,830,208 14,689,004 13,746,084
Illinois Central
Tnternat & Gt Nor_ 1st wk Oct 184,000 164,000 2,165,982 1,972,969
a Interoceanie Mex_ 1st wk Oct 108,245 114,621 1,684,191 1,662,120
1st wk Oct
67,867
Iowa Central
50,575
874,825
330,765
Kanawha & Mich
August _-- 238,213 207,173
452,207
409,080
Kansas City South.. August ___ 756,580 743,918 1,422,608 1,488,252
25,144
17,838
K 0 Me So Orient_ 2d wk Sep
Lake Erie & West'n -See New York Con tral.
August
2,926,370 2,833,933 5,680,769 5,360,384
Lehigh Valey
35,852
Lexington & East .July
36.821
36,821
33,852
August -/nc.12 1,296
Long Island
Inc.23 8,913
85,686
Louisiana & Arkan_ Aguust - 100,058
184,068
206,149
102,499
87,725
Loulsv Rend & St L August
165,174
186,404
Louisville & Nashv_ 1st wk Oct 1,039,395 978,870 13,110,107 12,263,616
12,854
13,329
35,571
34,521
Macon & Birming'm September
Maine Central__ --r August ___ 847,768 797,240 1,641,604 1,519,549
3,449
3,283
16,059
10,189
• September
Manistique
37,376
36,780
60,069
66,309
Maryland & Penn_ _ August
a Mexican Internat. 1st wk Oct 126,785 124,765 1,987,720 1,807,887
a Mexican Railway_ 3,1 wit Sep 121,600 105,000 1,766,600 1,574,500
25,246
23,271
a Mexican Southern 3d wk Sep
280,070
282,415
MichInlin Contra - -;ee New Y ork Ceti tr 11.
16,232
15,411
242,064
Mineral Range
1st wit Oct
234,871
98,310 1,371,524 1,198,805
Minneap & St Louis 1st wit Oct 122,383
Minn St P & S S MI 1st wk Oct 587,738 515,271 6,740,407 5,059,306
Chicago D visionj
Missouri Kan & Tex August -- 2,179,360 2,200,770 4,003,223 4,069,037
Mo Pao & Iron Mtl
Central Branch_ J 1st wit Oct 1,032,000 858,000 14,298,199 12,404,274
b Mobile Jack & K C Wk Oct 2
28,417
31,051
375,060
342,567
Nashv Chat & St L. August 936,019 878,611 1,847,003 1,738,909
a Nat Rys of Mexico 1st wit Oct 912,099 860,231 12,334,057 11,962,109
ovada-Cal-Oregon. 1st wk Oct
0,090
13,163
159,703
114,352
'evacla Central_
A ugust
5,480
_
5,275
11,582
13,923
0 Great North. August
43,759
101,364
206,813
82,120
5
Latest Gross Earnings.
ROADS.
Week or
Mont/i.
Current
Year.
July 1 to Lates; Date
Previous
Year.
Current
Year.
Previous
Year.
eNYC & Hud My- August ___ 8,359.672 7,791.665 16,314.867 14,885,463
Lake Shore & M S August -__ 4,278,626 3,714.758 8,216,975 6,979,147
n Lake E & West August
816,475
497,434 426,067
888,110
Chic Ind & South August ___ 268,812 224,950
416 819
537,041
Michigan Central August -2,428,089 2,144.490 4,694,751 4,085,678
Cleve 00 & St L. August -__ 2.620,031 2,294,069 4,91.7,735 4,383,025
Peoria & Eastern August -__ 291,254 238,391
531,048
455.278
Cincinnati North August ___ 118,837 110.302
192,497
207,168
Pitts & Lake Erie August ___ 1,469,846 1,130,105 2,919.325 2,125,836
Rutland
August ___ 300,625 266,674
513,084
581,132
N Y Chic & St L. August ___ 876,322 755,804 1,710,129 1,448,545
Total all lines___ _ August ___ 21509 542 19097 275 41,518,275 36,301,847
N Y Ont & Western August -__ 857,337 850.737 1,718,423 1,673,643
NYNH& Hart_ _r August ___ 5,127,834 4.528,132 10,197,988 8,929,955
N Y Susq & West
August ___ 241,233 265.731
485,742
495,171
Norfolk & South..r August ___ 207,430 178,108
423,898
362,021
Norfolk & Western_ August __ 2,893,006 2,507,097 5,474,307 4,876,922
Northern Central.. August ___ 1,048,836 956,036 2.024,151 1.825,151
Northern Pacific_ _r August ___ 6,910,977 5,836,668 13,608,956 11,516,193
Pacific Coast Co _ _ _ August ___ 822,785 593,117 1,557,369 1,173,106
Pennsylvania Co_ _ August -__ 4,698,062 3,733,766 9,104,479 7,323,787
d Penn-E of P & E August -__ 13544 999 11644 799 26,460,764 22,926,864
d West of P & E.. August ___ /nc.1,53 9,700
/nc.2,59 4,900
Pere Marquette__ _r August --- 1,352,634 1,201,032 2,568,030 2,258,248
Phila Bait & Wash_ August --- 1,510,927 1,389,227 3,028,805 2,817,905
Pitts Cin Chic & StL August --_ 2,772,598 2,255,778 5,211,98 4.483,682
Raleigh & Southp'rt August ___
11,915
8,133
23,403
17,836
Reading Company_
Phil& & Reading- August
3,510,464 3,012,903 6,602,86. 5,5410,375
Coal & Iron Co.. August
1,780,164 2,122,030 3,377,25 4,076,794
Total both cos_ _ _ August
5,290,628 5,134,933 9,980,122 10,007,168
Rich Freder & Pot_ August
152,906 118,283
337,633
292,911
Rio Grande June_ July
85,520
85,520
72,970
72,970
Rio Grande South_ 1st wit Oct
6,127
168,941
13,262
124,328
Rock Island System August
5,977,132 5,334,127 11,393,734 10,013,234
St L & San Fran_ August ___ 3,650,261 3,171,990 6,955,631 6,022,645
Chic & East II1__ August -_- 070,080 854,162 1,823,210 1,628,928
f Evansv & Ter
August ___ 233.582 196,956
424,83
382,666
Total of all lines_ August ___ 10831057 9,557,237 20.597,41 18.047,473
St Jos & Gr Island_ August
153,299 148,545
295,053
273.329
St Louis Southwest. 1st wk Oct 251,268 216,120 2,884,537 2.704,579
San Ped LA & SL_r August ___ 714,207 549,215 1,463,291 1,072,467
Seaboard Air Line_r August ___ 1,280,241 1,060,634 2,550,206 2,246,988
84,459
Atlanta & Birm_r August ___
72,030
162,271
142,267
Florida West Sh.r August ___
6,603
5,561
13,063
11,659
Southern Indiana_r August ___ 121,267 113,430
225,594
215,863
C Southern Pao Co.. August
11310746 9,831,638 22,125,315 19,552,043
Southern Railway.. 1st wit Oct 1,228,664 1,062,661 15,034,571 13,586,470
Mobile & Ohio... 1st wk Oct 208,674 189,565 2,661,842 2,442,208
Cin N 0 RI Tex P. 1st wk Oct 176,646 150,109, 2,261,090 2,101,967
Ala Great South_ 1st wit Oct
71,359
63,286
983,442
947,879
Georgia So & Fla 4th wk Sep
61.198
49.407
522,277
448.782
Texas Central
20,952
1st wk Oct
25,331
246,431
269,154
Texas & Pacific_ _ 1st wit Oct 313.924 293,13' 3,802,638 3,523,954
Tidewater & West-r August ___
6,524
5,715
11,671
13,041
Toledo & Ohio Cent
876,777
394,489 438,224
722,86
Toledo Peor & West 4th
Augustwk Sep
33,882
32.84.
292,16
297,981
Toledo St L & West 1st wit Oct
972,869
72,261
65,335 1,006,18
Tombigbee Valley.. August ___
6,217
5,466
12,62
Union Pacific Syst_ August ___ 7.948,614 6,975,471 15,483,46 13,725,
1057
0155
Vancialla
August -__ 805,666 745,061 1,527,58
1,449,987
Virginia & Sou West August __ 100,518 100,785
202,83
193,358
Wabash
1st wk Oct 646,303 551,145 8,044,36 7,326,008
Western Maryland.r July
545,057 476,750
476.750
545.05
West Jer & Seash_ _ August
ti
820,450 767,250 1,583,031 1,463,431
Wheeling & L B..r August
615,264 532,070 1,205,82 1.059,282
White Riv(Vt)2 wks end Sep 25
73
1,413
Wrightsville & Tenn August
19,573
16,957
35,437
32,800
781,443 764,601 2,192,695 1.986,769
Yazoo & Miss Vail. September
Peric•r.
Various Fiscal Years.
Bellefonte Central
Jan
Delaware & Hudson
Jan
Manistique
Jan
a Mexican Railway
Jan
a Mexican Southern
Jan
c N Y Central & Hudson River.. Jan
Lake Shore & Michigan South Jan
n Lake Erie & Western
Jan
Chicago Indiana & Southern_ J'an
Michigan Central
Jan
Clay Cin Chicago & St Louts Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Rutland
Jan
N Y Chicago & St Louis
Jan
Total all lines
Tan
Northern Central .
Tan
d Penn-East of Pittsb & Erie
Jan
Tan
d West of Pitts & Erie
Phila Baltimore & Washington_ Jan
Pitts Cin Chicago & St Louis... Jan
Dec
Rio Grande Junction
Texas & Pacific
Jan
IJan
West Jersey & Seashore
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to.
to
to
to
to
to
to
to
Sept
Aug
Sept
Sept
Sept
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
July
Oct
Aug
Curren'
Previous
Year.
Yoar.
----30
43,62
46,392
3112.473.50 11.880.606
43,905
31,45
3
21 5468,701 5,516,400
21
975,301
919,117
31 58,888,637 53,196,059
31 28,462.083 24,805,737
31 3,055,452 2,772,592
31 1,963,724 1,702,224
31 17,285.120 15,416,587
31 17,425,757 15,233,750
31 1,867,399 1,719,302
588,411
31
731,798
31 8,701,967 6,213,551
31 1,951,187 1,746,575
31 6,381,60: 5,957,564
31 146714726 129352352
31 7,735,245 7,256,445
31 96,603,713 86,950,013
Inc.7,39 6,000
31
31 11,494,016 10,558,016
31 18,853,746 16,708,225
31
583,409
488,065
7 10,420,805 9,521,513
31 3.981,483 3,735,783
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
Cur'nt Year Prey's Year Inc. or Dec.
Monthly Summaries.
Cur're Year Prey's Yearl Inc.or Dcc.
3
3
11,311,290 10,235,361 +1,075,920 10.51
Month Deo 1908 (798 roads). 205,216.481 193,791,645 +11,424.836 5.90
11,565,704 10,600,774
+964,990 9.10
Month Jan 1908 (394 roads) _1183,223.014 173,596,903 +9.626,111 5.54
10,920,086 9,931,209
+988,877 9.96
roads)
(893
1909
Month Feb
_174,497,310 161,058,60 +13,438,712 8.34
11,780,990 10,745,592 +1,035,398 9.63
Month Mch 1909 (890 roads).1205,708,319 183.453,906 +22,254,413 12.13
16,740,145 15,107,527 +1,632,618 10.84
Month April 1909 (895 roads) _1197,011.530 175,002,64
+2.008,891 12.50
11,521.265 10,434,381 +1,086,887 10.42
(893
roads).
1909
Month May
I201,625,122 174,475,411 +27,149.711 15.58
12,317,219 11,229,609 +1,037,610 0,69 Month June 1909 (893 roads) _ 1 210,357,226 183,983,82 +26,373,397 14.33
12,936,635 11,508,456 +1,428,170 12.41
Month July 1909 (692 roads) _ 1 208,870,411 185,340.563 +23,529,848 12.73
17,285,767 15,185,925 +2,099,842 13.82
Month Aug 1909( 49 roads)
57,953,811 51,851,211 +6,102,600 11.77
11,940,778 10,360,454 +1,580,324 15.25
Month Sept 1909 (49 roads) _• 62,138,040 55.524,845 +6,613,195 11.91
a Mexican currency. 0 includes earnings of Gulf & Chicago Division. c Includes the Houston & Texas Central and its subsidiary lines in both years,
Covers hoes directly operated. e Includes the New York & Ottawa, the St, Lawrence & Adirondack and the Ottawa &
York By.. the latter of
which, being a Canadian road, does not make returns to the Inter-State Commerce Commission. f Includes Evansville &New
. fi Includes
Indiana RR.
earnings of Colorado h Southern, Fort Worth & Denver City and all affiliated lines, excepting Trinity & Brazos Valley RR.
k Includes in both years
earnings of Denver Enid & Gulf RR., Pecos Valley System and Santa Fe Prescott & Phoenix By. 1 These figures do not include receipts from sale of
coal
n Includes the Northern Ohio RR. 0 Figures hero are on the old basis of accounting-not the new or Inter-State Commerce Commission method
r These figures are on the new basis prescribed by the Inter-State Commerce Commission.
1St
2d
3d
3d
4th
1st
2d
ad
4th
1st
week Aug
week Aug
week Aug
week Aug
week Aug
week Sep
week Sep
weeic Sept
week Sept
week Oct
(44 roads).....
(46 roads)._
(33 roads)--(47 roads)
(44 roads)____
(42 roads)....
(45 reads)____
(45 roads)....
(43 roads)---(32 roads) _ _
THE CHRONIC LE
988
14 Latest Gross Earnings by Weeks.-Ini-the table which
follows we sum up separately the earnings for the first week
of October. The table covers 32 roads and shows 15.25%
increase in the aggregate over the same week last year.
First Week of October.
1909.
1908.
,
Increase. Decrease.
$
5
5
Alabama Great Southern
8,073
63,286
71,359
Atlanta Birmingham & Atlantic
43,020
5,091
48,111
Buffalo Rochester & Pittsburgh
172,704
7,388
180,092
Canadian Northern
246,400
51,800
298,200
Canadian Pacific
2,175,000 1,599,000 576,000
Central of Georgia
8,100
269,500
277,600
39,231
Chesapeake & Ohio
536,498
575,729
Chicago & Alton
272,095
260,557
26,537
150,109
Cincinnati New On & Texas Pac
176,646
288,175
44,296
332,471
Colorado & Southern
437,400
48,400
485,800
Denver & Rio Grande
4,240
20,354
24,594
Detroit & Mackinac
20,327
56,202
76,529
Duluth South Shore & Atlantic_
20,000
164,000
184,000
Internat & Great Northern_ _ _ _
108,245
114,621
Interoceanic of Mexico
50,575
17,292
67,867
Iowa Central
978,870
60,525
1,039,395
Louisville & Nashville
124,765
2,020
126,785
Mexican International
821
16,232
15,411
Mineral Range
98,310
24,073
122,383
Minneapolis & St Louis
Minneapolis St Paul ,So S S M_ _ 1
72,467
515,271
587,738
Chicago Division
J
858,000 174,000
1,032,000
Missouri Pacific
19,109
189,565
Mobile •& Ohio
208,674
51,868
860,231
National Railways of Mexico._ _
912,099
9,099
4,064
13,163
Nevada-California-Oregon
Rio Grande Southern
6,127
13,262
35,148
216,120
St Louis Southwestern
251,268
Southern Railway
1,228,664 1,062,661 186,003
25,331
Texas Central
20,962
20,785
293,139
Texas & Pacific
313,924
6,926
65,335
72,261
Toledo St Louis & Western_ _ _
95,158
551,145
646,303
Wabash
ilE1
11,940,778 10,360,454 1,609,742
Total (32 roads)
1,580,324
Netiincrease (15.25%)
$
INDUSTRIAL COMPANIES.
-Int., Rentals, &c.- -Bal. of Net If;'ngs.Current
Previous
Previous
Current
Companies.
Year.
Year.
Year.
Year.
5
5
$
$
13,823
Keyst Tel Co of Phlla_ _Sept
34,445
10,338
33,015
July 1 to Sept 30
35,501
27,169
101,827
103,684
x After allowing for other income received.
STREET RAILWAY AND TRACTION COMPANIES.
a.
Name of
Road.
Latest Gross Earnings.
Week or
Month.
Current Previous
Year.
Year.
Jan. 1 to latest date.
Current
Year.
Previous
Year.
11,538
5
$
$
$
American Rys Co__ September 255,598 240,752 2,201,787 2,109,912
cAlir Elgin & Chic By August ___ 163,698 153,895 1,009,265
920,528
Binghamton St. By.. August __ _
34,348 32,892
230,721
211,134
BIrm By Lt & Power August ___ 181,979 172,068 1,458,461 1.404,375
Brockton & Ply St Ry July
18,022
15,956
73,158
67.088
August ___
11,288 10,279
87,372
74,223
6,376 Camaguey Co
Cape Breton Elec Co_ August ___
148,388
159,838
22,005 22,958
Carolina Pow&Lt Co_ August _
125,782
17,159
501,768
Central Penn Trac
68,836
472,250
August ___
70,031
510,087
Charlest Con By G&-F. August _ _ _
68,484 63,803
506.771
Chicago Railways Co. August ___ 1088,209 980,166 8,068,552
36,389 33,137
210.844
197,258
Cleve Painesv & East August ___
128,749 94,739
854.533
Dallas Electric Corp_ August
728,511
188,914 168,966 5,918,587 5,283,526
Detroit United By.. 4th wkSep
636,384
92,236 84,733
578,151
Duluth-Superior TrCo August __ _
East St Louis & Sub_ August ___ 177.210 174,380 1,304,676 1,317,827
46,447 41,399
376,374
August ___
342,691
El Paso Electric
37,908
270,270
39,221
247,990
7,135 Pair & Clarksb Tr Co. August ___
Pt Wayne & Wabash
905,614
856,257
Valley Traction Co August ___ 133,412 125,587
793,768
__ 111.295 101,708
700.864
4,369 Galv-Hous Elec Co
August97,626 89,899
776,022
708,569
Grand Rapids Ry Co_ September
Havana Electric Ry_ Wk Oct 10 35,478 34,518 1,584,152 1,473,950
Honolulu Rapid Tran
34,525 36,637
232,209
219,513
July
& Land Co
173,565
32,925 25,952
213,693
29,418 Houghton Co Trac Co August
362,729 342,273 2,416,947 2,255,700
Illinois Traction Co__ July
38,782 36,271
312,211
282,463
Jacksonville Elec Co_ August
31.213 30,684
166,428
156,837
Kansas City-Western June
130,993 119,674
726,854
Shore Elea By.. August
683,136
For the fourth week of September our final statement Lake
Lex & Inter Rys Co__ June
51,373 54,143
266,513
269,048
374,680 337,966 2,747,439 2,531,747
covers 43 roads and shows 13.82% increase in the aggregate Milw Elec Ry & Lt Co August
Milw Lt Ht & Trac Co August __ _ 106,994 104,718
606,308
565,721
over the same week last year.
Montreal Street By.. Wk Oct 9_
78,416 70,071 2,998,973 2,834,208
Nashville By & Light August
137,255 126,946 1,103,101 1,008,528
North Ohio Tr & Lt__ August
231,061 209,742 1,432,015 1,247,878
Increase. Decrease. North Texas Bice Co_ August
1908.
1909,
Fourth Week of September.
109,422 92,503
805,290
682,359
Northwestern Elev Co September 169,066 159,151 1,523,278 1,409,084
$
$
Norf & Portsm Tr Co June
164,511 d161,527
923,527 d875,620
$
$
12,911 Oklahoma City By.. July
Previously reported (37 roads)_ 16,755,751 14,722,429 2,046,233
41,468 26,781
228,194
148,384
11,534
Alabama Great Southern
119,939
108,405
Paducah Tr & Lt Co_ August
19,930 19,852
147,729
151,355
60,442
Cincinnati New Orl & Texas Pac
270,238
209,796
Pensacola Electric Co
22,205 19,562
162,401
135,959
23,018
14,829
8,189
Denver Northwest & Pacific_ __
Porti'd(OdRyL&PCo September
August420,778 373,288 3,547,047 3,222,103
103 Rio de Janeiro Tram
46,047
Detroit Toledo & Ironton
46,150
4,948
51,350
56,298
Ann Arbor
Light & Power..._ August
673,220 641,807 4,964,764 4,595,811
8,594 St Joseph (Mo) By Lt
19,424
28,018
Texas Central
88,286 94,991
722,808
672,232
Heati&IPower Co_ September
17,285,76715,185,925 2,126,398
Total (43 roads)
26,556 Sao Paulo Tr Lt & P_ August
193,203 179,921 1,575,775 1,501,294
2,099,842
Net increase (13.82%)
55,811
53,454
348,383
335,848
Savannah Electric Co July
Seattle Electric Co___ August
610,816 382,742 3,808,176 2,917,185
13,471
13,551
120,785
116,483
Sou Wisconsin By Co September
48,468 45,474
389,145
362,624
Tampa
Electric
Co__
August
Net Earnings Monthly to Latest Dates.-The table fol- Toledo Rys & Light_ August
235,643 212,318 1,763,698 1,641.930
lowing shows the gross and net earnings of STEAM railroads Toronto Railways_. Wk Oct 9_ 75,515 68,657 2,910,927 2,675,721
Twin City Rap Tran_ 4th wk Sep 172,577 154,374 5.170,113 4,760,600
reported this week:
Underground El Ry
of London-Gross Earnings
--Net Earnings
Three tube lines__ Wk Oct 2_ £12,275 £11,860 £488,560 £449,275
Current
Previous
Previous
Current
Year.
Metropolitan Dist_ Wk Oct 2_
£9,933
19,680 £381,253 1350,652
Year.
Year.
Year.
Roads.
United. Tramways_ Wk Oct 2_
£5,997 17,572 £242,261 1267,495
$
FA
$
957,246 911,515 7,297,057 8,973,281
2,753 United Rys of St L. August
1,396
6,965
5,801
Bellefonte Central_ b_ _ _Sept
San Fr August
642,120 587,733 4,832,778 4,497,944
8,325 United RRs ofPow
2,648
43,627
Jan 1 to Sept 30
46,393
Co Juno
179,625 174,858 1,014,195
836,398
Virginia By &
I
174,063 Wash Bait & Annap_ September
215,954
531,300
487,142
55,938
Chicago Ind & Lou_b__Aug
58,789
318,862 Whatcom Co By & Lt August ___
389,843
1,018,532
940,744
July 1 to Aug 31
29,417
36,841
260,354
231,789
Chic Mll & St Paul_ b_ _ _ Aug 5,559,001 5,339,460 1,684,468 2,048,431
10,769,458 9,991,869 3,329,782 3,825,689
July 1 to Aug 31
of
company.
d
Includes
earnings
c These figures are for consolidated
Grand Trunk of Canadathe No:folk County Ferries.
846,771
2,623,044
807,839
Aug 2,939,366
Grand Trunk By
Street Railway Net Earnings.-The following table gives
5,659,849 5,143,514 1,557,280 1,515,915
July 1 to Aug 31
206,340
517,310
194,660 the returns of STREET railway gross and net earnings
576,681
Grand Trunk West_...Aug
985,964
326,543
266,685 reported this week. A full detailed statement, including all
1,047,282
July 1 to Aug 31
37,959
41,852
172,761
150,862
Det Gr H & Milw_ _ _Aug
84,677 roads from which monthly returns can be obtained, is given
299,777
68,861
July 1 to Aug 31
323,136
22,386 once a month in these columns, and the latest statement of
21,413
Aug
190,280
192,227
Canada Atlantic
43,312 this kind will be found in the issue of Sept. 25 1909. The
11,193
July 1 to Aug 31
339,681
374,233
17,600 next will appear in the issue of Oct. :30 1909.
157,928
131,657
39,421
Gulf & Ship Island_b__ Aug
32,170
78,584
313,858
262,771
July 1 to Aug 31
-Gross Earnings- -Net Earnings
17,553
100,058
29,134
Louisiana & Arkansas_ b.Aug
85,686
Previous
Current
Current
Previous
206,149
44,529
69,146
July 1 to Aug 31
184,068
Year.
Year.
Roads.
Year.
Year.
3,449
$
def2,353
Sept
3,283
1,153
$
Manistique b
$
• 5
31,454
def2,138 Chicago Rys_a
2,846
43,905
Jan 1 to Sept 30
330,038
437,576
Aug 1,088,209
980,166
2,807,826
Jan 1 to Aug 31
8,008,552
6,353
29,857
101,364
43,759
New Orl Great Nora..Aug
10,640 Cleve Southw & Col_ b_ _ Aug
61,556
206,813
82,120
July 1 to Aug 31
32,819
81,447
90,718
22N1
171,788
Tan 1 to Aug 31
503,165
579,627
156,947
145,162
438,224
Toledo & Ohio Central_a Aug 394,489
334,158 Grand Rapids Ry_ b_ _ ..Sept
235,056
876,777
722,862
54,426
49,281
July 1 to Aug 31
89,899
97,626
413,061
351,584
708,569
Jan 1 to Sept 30
776,022
36,133
27,909
102,091
Toledo Peor & West_ b_ .Aug
107,372
28,350
31,939 Port (Ore)Ry L & PCo_bSept 420,778
104,526
September
101,187
227,341
199,946
373,288
80,694
297,982
80,952
292,166
July 1 to Sept 30
Jan 1 to Sept 30
3,547,647 3,222,103 1,896,419 1,624,982
94,991
47,477
55,086
St Jos(Mo)Ry L H &PCobSept 88,286
INDUSTRIAL COMPANIES.
672,232
348,278
329,454
722,808
Jan 1 to Sept 30
46,838
87,656
Keyst Tel Co of Phil_a_Sept
91,908
44,783 Toledo Rys & Light_ _ b_
212,318
235,643
107,780
98,448
Aug
137,328
272,851
262,187
130,853
July 1 to Sept. 30
1,783,698 1,641,930
751,428
734,006
Jan 1 to Aug 31___.
Mex Tel & Tel Co58,789
Balt & Annapolls_Sept
55,938
25,629
24,039
c119,262
Mch 1 to Aug 31
c185,164
c81,147 Wash
c226,879
to
172,505
151,545
1
Sept
July
30
72,687
60.878
a Net earnings here given are after allowing for taxes.
a Net earnings here given are after deducting taxes.
b Net earnings here given are before allowing for taxes.
b Net earnings here given are before deducting taxes.
c Mexican currency.
Interest Charges and Surplus.
Interest Charges and Surplus.
-Int., Rentals, &c.- -Bat. of Net E'ngs.Current
Previous
Previous
Current
Year.
Year.
Year.
Roads.
Year.
$
$
$
•
$
Bellefonte Central
1,153
257
2,496
Sept
243
Jan 1 to Sept 30
461
2,313
6,012
2,187
x4,353 xdf.17,885
Gulf & Ship Island
Aug
36,015
35,805
July 1 to Aug 31
x7,754 xdf.38,485
72,019
72,618
Louisiana & Arkansas_ _ Aug
x11,473
24,922
18,917
x2,660
July 1 to Aug 31
x35,681
x15,791
48,430
36,958
x136 xdef.8,107
45,813
New On Great North_ _ _ Aug
20,185
93,196
x781 zdef.16,204
July 1 to Aug 31
39,445
x114,740 x113,900
46,307
Toledo & Ohio Central__ Aug
39,941
93,153
July 1 to Aug 31
80,326 x169,920
x256,013
24,179
Toledo Peoria & West_ _ Aug
24,649
x12,947
x4,293
September
24,182
x6,688
z10,407
23,321
72,746
July 1 to Sept 30
71,316
z13,387
z13,13
-Int., Rentals, &c.- -Bat, of Net E'nos.-7
-•
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
$
$
$
12,930
__Aug
19,889
27,270
12,485
Cleve Southw & Col
10,709
161,079
27,561
Jan 1 to Aug 3-1
195,357
30,475
35,468
18,958
18,806
Grand Rapids By
Sept
185,288
242,291
170,770
165,296
Jan 1 to Sept 30
85,739
98,417.
L
&
P
(Ore)
By
Co_Sept
128,924
114,207
Port
586,548
785,085
Jan 1 to Sept 30
1,111,334 1,038,434
34,718
25,419
StJos(Mo)RyLH &PCo_ _Sept
20,368
22,058
144,912
156,198
184,542
Jan 1 to Sept 30
192,080
x32,614
x26,705
71,879
__Aug
75,642
Toledo Rys & Lt
x176,550 x173,250
Co_563,766
31
576,717
Jan 1 to Aug
def3,450
def1,130
25,169
29,079
Wash Bait & Annapolls_Sept
def15,447
def24,392
75,270
88,134
July 1 to Sept 30
11.-*Kij
a
MIA
z After allowing for other income received.'0,1'7.,
Roads.
THE CHRONICLE
OCT. 16 1P,09.
989
pany's lines in Canada and of the subsidiary lines In the United States,
and the information that we gathered, not only as to the physical condition
of the properties but as to the progress of settlement and the enlargement
of agricultural and business development of every description, was most
Annual Reports.-An index to annual reports of steam gratifying.
The area of the wheat-growing belt served by your lines in Western
which
companies
railroads, street railways and miscellaneous
Canada is steadily increasing and interior elevators for handling grain are
be
will
now
to be found in districts where a few years ago the best informed never
month
have been published during the preceding
to see grain produced.
given on the last Saturday of each month. This index will expected
The valleys of the Columbia and Kootenay rivers and the lands tribuare rapidly being
not include reports in the issue of the "Chronicle" in which tary to the Okanagan and other lakes in British Columbia
into orchards, the lumber interests of the mainland and Vanit is published. The latest index will be found in the issue converted
couver Island are becoming of vast importance, and every city and town
west of Fort William bears the marks of progress and prosperity. And in
of Sept. 25. The next will appear in that of Oct. 30.
the commercial and manufacturing centres of Eastern Canada all of this is
being reflected in a most pronounced way, as indicated by the business
Southern Railway.
activity and the growth of population in practically all the cities and towns
reached by your lines in Ontario, Quebec and the Lower Provinces. Beyond
(Report for Fiscal Yea;. ending June 30 1909.)
doubt we are justified In declaring that the agricultural and general business
of Canada are in splendid shape and that the outlook for the
The remarks of President Finley, together with the de- interests
company
is at this
more reassuring and more promising than ever
tailed comparative balance sheets and income account for before. The traffic time
prospects of the Minneapolis St. Paul & Sault Ste.
Marie By. Co. are also very satisfactory. Having secured access to Chitwo years, the profit and loss account, and comparative cago
and Milwaukee by the lease of the Wisconsin Central Ry. the "Soo
traffic statistics, are published on subsequent pages.
Line," in conjunction with this company, has become an important factor
Coast.
The comparative income account for two years (Table 2) in the transcontinental business between these points and the Pacific
New Stock.-The sanction of the Governor-in-Council having been obhas been prepared by the company in accordance with the tained,
the shareholders at the special general meeting held a year ago took
new classifications prescribed by the Inter-State Commerce the necessary action to provide for an increase of the ordinary capital
the company from $150,000,000 to $200,000,000, and the directors were
Commission, and need not be repeated here. Comparisons of
clothed with authority to issue the additional $50,000,000 from time to
with earlier years are inaccurate as explained in the annual time, according to the requirements of the company.
Thus far the directors have not thought it necessary to deal with the subreport last year (V. 87, p. 1005, 1027).-V. 89, p. 349.
ject, but the same conditions that bring enhanced revenue also compel constant and important expenditures for locomotives and cars, for the acquisiIllinois Central Railroad.
tion or enlargement of terminal grounds and buildings, and more siding accommodation, not only at the important centres but at hundreds of other
(Report for Fiscal Year ending June 30 1909.)
places on the system, and for desirable additions and improvements of
every description on different sections of the railway throughout
The full text of the remarks of President J. T. Harahan is almost
the country.
Anticipating these future general requirements, the directors think it
given on subsequent pages; also the detailed operating inprudent at this time to make provision for the necessary funds by offering
come and expenses for two years and income account for to
the holders of the ordinary capital stock a portion of the unissued shares.
the late year, comparative balance sheet for two years, and It is proposed that the Issue shall be in the proportion of 20% of the shares
in the name of each individual holder in the books in London,
registered
operating
and
including
traffic
comparative
numerous tables,
New York and Montreal, on Nov. 15 proximo, and the issue price will be
results, details of expenditures for additions and better- 125, or at a premium of 25% over the face value of the shares. The usual
payments made in installments at intervals of about
ments during the fiscal year, &c. Below we give the com- practice of having
sixty days will be followed, and interest at the rate of 6% per annum will
parative income account for two years.
be allowed on such payments. After requisite action by the directors, a
circular letter dealing with the subject in greater detail will be mailed to
INCOME ACCOUNT.
the shareholders.
Inc. (+) or
[The shareholders at the meeting ratified the taking of a lease of the
Dec. (-1.
1907-08.
1908-09.
Orford Mountain By. (V. 89, p. 726) for 999 years "at an annual rental
+127 of a sum
4,420
4,547
Average miles operated
equal to the interest payable on all bonds carrying interest at a
$
$
$
rate not exceeding 4% per annum, payable half-yearly, which the lessor
57,145,512 57,906,728 -851,215 may issue at the request of this company expressed in writing under its
Gross operating income
+474,391
38,415,639 37,941,248
Operating expenses
corporate seal, the payment of such interest being guaranteed by this
company and the aggregate of all such bonds outstanding not to exceed at
18,729,873 20,055,480 -1,325,607 any time the rate of $15,000 per mile of railway, then either constructed
•Net operating revenue
+86,796 or under contract to be constructed.")-V 89, p. 917, 846.
2,190,173
2,276,969
Taxes
ANNUAL REPORTS,
16,452,904
3,874,708
17,865,307 -1,412,403
2,358,525 +1,516,183
20,327,612
Total net IncOme
Deduct5,703,193
Interest on bonds
Int. on Tenn. Cent, prior lien bonds..
3,451,008
Rental of controlled lines
654,930
Rent of tracks and property
1,904,919
Hire of equipment
478,525
Miscellaneous deductions
7,650,720
Dividends(7%)
232,267
Replacement of equipment
+103,780
Operating income
Other Income
20,223,832
4,569,860 +1,133,333
-53,520
53,520
+296,033
3,155,875
+128.309
526,621
3,500,190 -1,604,271
+18,156
460,369
+997,920
6,652,800
1,046,963 -814,696
Chicago & Alton Railroad.
(Report for Fiscal Year ending June 30 1909.)
President T. P. Shonts writes in substance:
Maintenance.-1,082 tons of new rail and 2,942 tons of re-laying rail
were placed in the main track, making a total of 33.68 miles of track
re-laid during the year; 252,205 cross-ties were placed in main track, equal
to 86.96 miles; 3,142 lineal feet of bridge flooring were renewed; 6 new
stations were built. The average repairs per locomotive were $2,535; per
passenger equipment car, $557; per freight car, $19.
During the year 11 locomotives were destroyed or sold and 25 were
added; two passenger and 85 other cars were destroyed or sold and 2,000
+101,265
and 12 other cars were added.
gondola
20,076,463 19,975,198
Total deductions
+2,516
Improvements.-A number of important alterations have been made in
248,633
251,149
Balance, surplus
property
during the year and still greater ones are now under way.
the
-V. 89, p. 103.
A large reinforced concrete viaduct is being constructed jointly by the Alton.
and the Metropolitan St.Ry.Co. of Kansas City at Lydia
Pacific
Missouri
the
Railroad.
Yazoo & Mississippi Valley
Ave. which will remove a troublesome grade crossing. The two long
trestles over Sugar Creek near New Holland are being replaced with through
(Report for Fiscal Year ending June 30 1909.)
steel girders on masonry. Extensive alterations in the freight facilities
at
The report of President Harahan is given at length on have been made at Streator. The new freight house and freight yardstaJacksonville have been constructed. A commodious brick passenger
exand
income
operating
also
detailed
subsequent pages;
tion is also now under construction at Jacksonville and will shortly be
penses for two years and the income account for the late completed. Extensive additional tracks and facilities have been conyear and balance sheet for two years and important tables, structed at Pekin.
changes have been made in improving the freight facilities
including comparative traffic results, expenditures for addi- of Considerable
the Harrison St. yards in Chicago and plans have been prepared for a,
and for enlarged freight houses and the necessary retions and betterments during the year, &c. Below we give new office building
arrangement of the yards for this Harrison St. property. Negotiations
the comparative income account for two years.
arc under way with the city for the use of the necessary streets, and as
soon as these negotiations are completed. the work will be pushed to comINCOME ACCOUNT.
terminal facilities which have so long
Inc. (+) or pletion. Then the old cramped
hampered the road's freight business will be replaced by efficient modern
1908-09.
1907-08.
Dec.(-).
1,371
1,298
+73 facilities.
Average miles operated
But the most important Improvement undertaken during the fiscal year
$10,035,257 $10,098,391
-$63,134
Gross operating income
to Atlanta,
+164,385 is the grade reduction and second track work from Bloomington
7,769,909
7,034,294
Operating expenses
19.2 miles, and from Iles to Nilwood, 27.2 miles. This work is undertaken
to provide a double tracked line on a grade against north-bound trains of
-$227,519
$2,328,482
$2,100,963
Net operating revenue
the Illinois coal fields
+23,758 only 16 feet to the mile from the southern edge of is
413,186
436,944
Taxes
completed this lowtapped by the road, to Chicago. When this work
grade line will obtain from the south end of the coal fields to Peoria and
--$251,277
$1,915,206
$1,664,019
Operating income
four miles between
the
for
Chicago,
except
to
Nilwood
Roodhouse
and
from
1,750
1,750
Other income
Atlanta and Lawndale, where a pusher engine and the staff system of train
reduction from
grade
and
work
track
second
in
The
are
use.
operation
$1,665,769 $1,917,046 -$251,277
Total net income
Lawndaie to Iles, 37.6 miles, was completed in 1906 and prior to that time.
Deductand second track work is well under way,
reduction
grade
present
This
-$132,763
$1,346,033
$1,213,270
Interest on bonds
will enable train loads of 3,500 tons to be hauled
12,740+12,710 and when completed with
Interest on demand note
the Alton's heavier engines, and with a minimum
+22,870 without re-formation
-11,-6-51
42,521
Rent of tracks and property
Roodhouse and Nilwood to Chicago, distances of 232 and
of
from
delay,
-295,487
630,959
385,472
Hire of equipment
grades south of Bloomington were
north-bound
former
The
miles.
214
-22,068
238,912
216,844
Sundry other items
26 feet to the mile, so that it required practically three of the heaviest
to
up
make
two trains for the engine district
Bloomington
of
trains
south
$1,870,847 $2,235,555 -$364,708
Total deductions
/he new track is to be well ballasted and:laid
$205,078
$318,509 -$113,431 north of Bloomington. Ail
Balance, deficit
with new 80-lb. rails and oak ties.
-V. 87, p. 945.
Expenditures for New Construction, Additions, Improvements andl-New
fores.flig
Equipment during the Year.
Canadian Pacific Railway Co.
!'"
(Net addition to cost of road and equipment, $3,196,401.)
(Remarks of President at 28th Annual Meeting, held Oct. 6 Equipment
(locomotives, $316,088: passenger cars, $5,326;
$2,227,843
credit,
$33,879)
less
$1,940,307;
freight
cars,
1909.)
15,498
main line-air line, Iles to Murrayville_
President Sir Thomas G. Shaughnessy, K.C.V.O., at the Construction-New
er CV,
Additions (real estate, $725,433: additional main tracks, $30,841,505
$58,202)
terminal
yards,
$27,584;
tracks,
side
in
286;
held
Montreal on Oct. 6,said in substance:
annual meeting
111,555
($41,430), &c
elevation
Track
Earnings Outlook.-The gross receipts for the year (ending June 30 1909)
-d been
[During the year the $8,000,000 3% refunding bonds which ria
were quite as large as we had reason to expect, but the working expenses
5% notes (called for payment July 1 1909)
were abnormally heavy, due in part, as explained in the annual report pledged to secure $6.000,000
$1,558,$871,000
5%
15-year
and
debentures
also
99);
p.
88,
(V.
sold
were
(V• 89, p. 663, 726) to the additional mileage included in the traffic re' measure to other conditions that could not well be 000 equipment trust notes, Series E (V. 87, p. 1237) and $250,000 Series F.
turns, and in a greater
notes
estate
real
$590,355,
aggregating
and
$580,244
notes
equipment
controlled.
wel
•
• •
;
However, with the abundant crops harvested in almost every section of matured and were paid.-Ed.l
the territory served by your lines and the certainty of a very large west- RAIL BALLAST, BRIDGES. &C., IN MAIN LINE AND BRANCHES
is
there
reason
to
traffic,
inanticipate a substantial
bound merchandise
4
-I
t•A d,OWNED ON JUNE 30. •131,
P vit
crease in the total earnings for the current year as well as an improvement
-lb.56
66-6.
1 Rait- In the ratio of working expenses.
1,127.15
6.60
87.89
7.20
856.67
52.96
115.83
miles
Land Assets.-In the annual report reference is made to the company's 1909,
846.06 61.71 113.70 56.56 42.52 6.60 1,127.15
land affairs, but more particularly to the success that has attended the 4908, miles
Soil.
Total.
Slag.
Cinders.
Stone.
Gravel.
Ballastof
2.
cast
Calgary.
In
you
territory
this
connection
irrigation project in the
____
819.55
589.71
96.27 118.99 14.58
may be interested in knowing that the cash in hand resulting from the sale Main line, miles
219.26 88.34
56.66
34.06
84.41 44.13
of lands and town-sites has now reached the considerable sum of $14,000,- Branches, miles
000 and that the deferred payments exceed $18,000,000 in amount.
646.37 i13033 203.40758.71 1,038.81
Total, miles
Development of Country and Business.-Accompanled by several of the
613.42 193.01 142.86'80.0311,029.327 88.34
Total June 30 1908
directors I have recently traveled over a considerable portion of the corn
990
[VoL. Lxxx
THE CHRONICLE
-Aggreg. Length Bdges.(ft.)-Overhead Crossings (No.)
Wood.
Steel.
3. Bridges Ac. Stone.
Trestles. Highway. Railway.
1909
640
27,204
25,553
36
304
8
1908
640
27,113
25,553
36
304
8
Between June 1809 and June 1909 the total tractive power of the locomotives in service has been increased from 2,874,520 lbs. to 7,439,612 lbs.,
or 158.81%; the total capacity of the freight equipment in service has been
increased from 131,890 tons to 479,383 tons, or 263.47%, and the average
capacity per car has been increased within this period from 21.52 tons to
39.73 tons, or 84.62%.
OPERATIONS AND FISCAL RESULTS.
1908-09.
1907-08.
1906-07.
1905-06.
Miles June 30
998
998
970
970
Operations, &C.
Receipts per mlle of road
$12,278
$11,942
$12,906
Tons rev, freight carried 8,437,278
6,812,469
8,358,294
7,855,315
Tons rev. fght. carr. 1 m.1339954801 1256931872 1386988037 1174692281
Fgt. rects. per train mile
$2.34
$2.42
$2.48
Fgt. rec. per ton per mile 0.570 cts.
0.587 cts.
0.610 cts.
Rev, passengers carried_ 3,828,056
3,427,982
3,061,216
3,109,318
Rev, pass. cars'. 1 mile_ _209,859,470 189,430,982 180,768,202 165,985,535
Rects, per pass. per mile 1.823 cts.
2.054 cts.
1.854 cts.
Rects. per pass, train m.
(Incl. mail & express) _
$1.33
$1.39
$1.34
Av. rev. tr. load (tons) _
409.99
406.94
412.59
INCOME ACCOUNT.'
Operating revenues1908-09.
1907-08.
Freight
$7,640,946 $7,671,477
Passenger
3,824,144
3,511,410
Mall, express and miscellaneous
1,035,592
919,903
$12,500,682 $12,102,790
ExpensesMaintenance of way and structures
Maintenance of equipment
Traffic expenses
.Transportation expenses
General expenses
Total operating expenses
Net operating revenues
Interest on stocks and bonds
Miscellaneous interest and discount
Other Income
$1,220,274
1,248,746
504,398
4,077,010
358,170
$1,376,181
1,558,466
483,688
3,896,733
343,349
$7,408,598
$5,092,084
3,787
99,886
def.9,656
$7,658,416
$4,444,374
4,097
(net)1,503
• 3,650
Total net income
$5,186,101 $4,453,623
DeductTaxes
$380,153
$356,733
Hire of equipment
195,5431
Rentals paid
167,514
171,9941
Interest on bonds
1,891,684
2,017,462
Interest on collateral notes
300,000
300,000
Interest on equipment notes (net)
175,756
213,664
Dividends on guaranteed stocks (rentals)
241,024
241,024
Dividends on prior lien and participating stock_ __ (8%)70,344(5%) 43,9 5
Dividends on preferred stock (4%)
781,760
781,760
Dividends on common stock
(4%)781,712(1 %)195,428
Total deductions
$5,153,656 $4,153.864
Balance, surplus
$32,445
$299,759
Note.-The gross earnings and operating expenses in 1907-08 have been
afford
in
order
a
proper
revised
to
somewhat
comparison. This results in
the total net income as below, $4,453,623, comparing with $4,475,094, a
difference of $21,471. The figures for 1907-08 after operating income not
being given in this year's report, we have changed the sum of the items.
of "hire of equipment" and "rentals paid" from *188,985 to $167,514 in
order to strike the proper balance for the year.
Operations.-Year ending June 30 1909, trainsrun (passenger $328,319.
freight, 236,800; mixed, 25,364; special 1,110), 591,593 miles, against
576,824 miles In 1907-08. Passengers carried 384,734., against 362,031:
carried one mile, 10,859,986, against 9,322,569. Tons freight carried
815,698, against 1,002,449. Ton miles 64,046,552, against 75,799,905.
INCOME ACCOUNT YEAR ENbING JUNE 30 1909.
Net operating revenue_ _ _ _ $159,170 Gross corporate Income__ $86,130
Outside operations
9,239
DeductInterest on bonds
$299,000
Total
$168,409 Hire of equipment
41,531
Taxes accrued
87,083 Joint facilities
16,693
Other payments
16
Operating income
$81,326 Additions and betterments_ 201,358
Other income (joint facilities
and misc. rents)
4,804
Total deductions
$558,598
Gross corporate income..___ $86,130
Bal., def. for year
$472,469
GENERAL BALANCE SHEET JUNE 30.
1909.
1908.
1909.
1008.
Assets1
Liabilities$
$
Cost of road and
Capital stock
8,013,000 8,013,000
equipment
_ A4,091,720 13,980,925 Funded debt
5,980,000 5,980,000
Stock of other cos..
6,686
6,686 Equip. trust obliMaterial and supgations (contra) 1,400,000
plies on hand__ 128,618
149,875
48,739 Accrued interest__
149,500
Cash & curr. assets 169,161
140,814
552,982
282,721 131113 payable
Equip. trusts(con) 1,400,000
Current liabilities_ 219,053
120,860
Profit and loss___ 628,090
129,619 Equip. replace't fd 109,365
44,515
Total
16,424,275 14,448,689
Total
16,424,275 14,448,689
Mr. Yarnall further reports:
Owns and operates from Excelsior, Ark. south to Hoye, Ark., and
north to Fidelity, Ark., also from Excelsior
'west to Silverdale, Kansas,
and from Jenks, Okla., to Glenn Pool, Okla. a total of 299 miles. The
company has trackage rights over St. Louis &'
San Franscico RR. between
Maney Jct., Okla., and Fort Smith, Ark., 16 miles, and over Missouri
Pacific Ry. between Silverdale, Kansas and Arkansas City, Kansas, 9
miles, making a total length of road operated 324 miles. Yard tracks
and sidings 43.61 miles. Gauge 4 ft. 838 in. Rail (steel), 65 lbs. Locomotives 38. Cars, passenger, 28; freight (coal, 1.760; box, 595; steel
tank, 100; flat, 78; ballast, 21:refrigerator, 2); 2,556; service, 25; total, 2,609.
Capital stock June 30 1909: authorized, $10,000,000, in $50 shares;
paid in, $8,013,000. Funded debt: outstanding, $5,980,000 ($20,000
per mile authorized) 1st mtge. 5% 50-year $1,000 gold bonds (0), due
Jan. 1 1954. Interest J. & J., at company's office, Philadelphia, Fa •
Bonds are subject to redemption up to Jan. 1 1910 at 10738 and Interest.
Trustee, Girard Trust Co., Philadelphia. Equipment to the value of
$1,500,000 was acquired under agreement of purchase. Payment of
$100,000 has been made thereon, leaving $1,400,000 equipment trust
obligations outstanding June 30 1909. Equipment being owned subject
to the agreement of purchase, it Is shown as an asset offsetting the liability.
Directors-C. E. Ingersoll, W.F. Harrity, Jno. S. Jenks Jr., Phila., Pa.;
J. W. McLoud, Little Rock, Ark.; R. T. Powell, Greenwood, Ark.; Ira D.
Oglesby, J. E. Green, Ft. Smith,
Officers-C. E. Ingersoll, President; Henry Wood, Vice-President; H. E.
Yarnell, Secretary and Treasurer, Philadelphia, Pa.; J. F. Holden, Vice'President and General Manager. General office, 1112 Franklin Bank
Building, Philadelphia, Pa.-V.86. D. 1160.
Colorado & Southern Ry.
(Report for Fiscal Year ending June 30 1909.)
On pages 933 to 935 of the "Chronicle" last week were
given at length the text of the report and the comparative
income account for two years and the balance sheet of
June 30 last. Below we give the operating statistics and
comparative balance sheet.
BALANCE SHEET JUNE 30.
1909.
1909.
1908.
1008.
Tv-AssetsS
$
Liabilities$
13
0PERATINGISTATISTICS.
Road, fran., &c.. 99,139,950 98,171,391 Capital stock_ _ _ 39,960,100 39,966,100
Equipment ____ 15,475,398 13,247,556 Guaranteed stks. 3,693,200 3,693,200
1906-07.
1907-08.
1908-09.
Stocks & bonds
Funded debt_ _ 68,466,000 67,595,000 Average miles operated
1,758
1,932
1,980
4,096,209
x3,798,893 10,217,893 Equip. tr. notes. 5,313,855
pledged
OperationsReal estate and
Coll, trust notes. *6,000,000 *6,000,000 Revenue passengers carried
2,801,699
2,935,266
3,517,708
947,172 Real est. notes,
other invest'ts y396,162
Revenue passengers carried one m11e_151,765,939 140,350,114 130,033,332
July 1 1909_
Dep. to redeem
580,244 Rate per passenger per mile
2.42 cts.
2.53 cts.
2.48 cts.
475,000
Bills payable_ _ _
5% coll. trust
Revenue freight (tons)
7,090,901
6,683,576
7,202,657
6,150,000
Accts. payable_
895,7551
notes
Revenue freight (tons) one mile
993.706,423 882,875,346 926,369,954
b2,710,123 3,098,801 Pay-rolls
Current assets
360,1095 1,040,542 Rate per ton per mile
1.043 cts.
1.067 cts.
1.134 cts.
91,524 Traffic balances.
291,885
Depos. for equip
250,607 Average revenue train-load (tons) __ _
272.57
257.13
270.44
Divs. declared_ _
Prepaid insur836,275
622,025 Earnings per passenger train mile
$1.17
$1.20
$1.15
37,199 Int. and rentals
61,843
ance, &c
Earnings per freight train mile
$2.84
$2.92
$2.89
5,112
accr.(not due)
Agts.' work. fd_
965,973
888,444 Operating revenues per mile
$7,607
$7,394
$7,618
Agents' drafts_ _
Deposit to re136,259
Taxes accrued_ _
186,405
BALANCE SHEE7' JUNE 30.
deem sinking
183,000
Called bonds_
18,375
fund debens
3,000
1909.
1008.
1909.
1908.
Res.for
Discount on bds.
95,364
Assets422,595 Equip. repl. fd_
475,080
337,689
&c
267,479 Cost of road and
1st pref. stock__ 8,500,000 8,500,000
Fire insur. fund.
2,681
28,683
86,321,653 84,425,074 2d pref. stock__ 8,500,000 8,500,000
equipment _
Profit and loss
z440,009
787,976 New equipment. 9,236,065 9,192,560 Common stock.. 31.000,000 31,000,000
Improvements _ 4,255,998 3,000,902 Stocks controlled
Total
128,230,936 126,234,131
128,230,936 126,234,131 Bonds in trees_ _ a2,047,037 6,074,571
Total
94,722
cos.not owned
e39,422
Ref.& ext.M.bds.
Funded debt(see
* Paid July 11909.
held for bett's. 1,067,815
864,629
Ry.&Ind.Sec.) 57,976,752 56,724,116
b Current assets in 1909 Include: material and supplies, $677,175; traffic balances, Securlt's of other
Equipment bds.
561,654; agents' and conductors, balances, $432,918; companies and individuals,
cos. at cost_ __b11,872,009 11,732,190
and leases ___ 2,536,102 2,823,894
$430,754; U. S. Govt., P. 0. Dept., $20,714; unadjusted freight claims, $221,495; Construe. adv.to
100,000 2,500,000
Bills payable...._
an aggregate of $1,844,710, less reserve for bad and doubtful accounts, 5176,276,
706,662
634,873
other cos.._ _ d1,558,418
1,289,369 Vouchers
to which is added cash, $1,041,689, making a total of $2,710,123.
522,889
564,424
Material & supp. 1,075,534
1,090,682 Pay-rolls
x Included in stocks and bonds pledged are: Kan. City St. L. & Chic. RR. Co. Cash
357,449
418,226
692,930
629,912 Foreign roads
preferred stock, $3,000,000: Nan. City St. L. & Chic. RR. Co. common stock, Individuals&cos.
521,815
612,203 Inter. on bonds
$157,100; La. & Mo. River RR. Co. preferred stock, $989,300; La. & Mo. River Agts. & conduct.
93,367
105,112
due & unpaid.
247,268
269,069
RR.Co. common stock, $2,268,800; Union Depot Co., Kansas City, stock, $45,000 U. S. Governm't
580,160
587,074
37,415
55,778 Int.accr.,not due
Miss. River Bridge Co. bonds, 532,000; total face value, $6,492,200; total book Traffic balances.
284.642
292,893
220,257
141,042 Taxes accrued
value, $3,798,893.
327,634
321,035
Reserves
Accr. Int. on sey Investments include stocks and bonds unpledged: Joliet & Chicago RR. Co.
139,641
curities owned
255,029 Stamf.&N.W.Ry
253,265
guaranteed stock, 35,000; Peoria Ry. Terminal Co. stock, $500,000; Peoria Ry. Special funds- _
60,184
50,568
48,794 Miscellaneous
1,021
Terminal Co. bonds, 81,500; Terminal Ry. Assn. of St. Louis stock, $205,800; Miscellaneous .._
117,582
05,287
31,275
40,733 Accr. for renew_
Kansas City St. Louis & Chic. RR. Co. common stock, $500; La. & Mo. River RR.
Profit and loss.._ 7,567,849 6,538,852
Co. pref. stock, $9,100; La. & Mo. River RR. Co. common stock, $25,700; C. & A.
RR. Co. 4% prior lien and participating capital stock, $10,600; Kansas City Term.
119,439,775 119,722,537
Total
Total
119,439,775 119,722,537
Ry.stock, $77,500; total face value, $835,700; total book value, $303,581.
z Profit and loss surplus on June 30 1903, $787.976, was credited with the surplus
a Bonds in treasury in 1909 include: Colo. & South. ref. and ext. M. bonds, par
for the year 1908-09, 51,666,261, and miscellaneous adjustments, and then reduced value, 81,439,037; Colorado Springs & Cripple Creek Ry. 2d M. bonds, par value,
to $440,009 by charging off the following items, aggregating $2,126,585, viz.: In- $180,000; Fort Worth & Denver Terminal Ry., $428,000..
stallment for fiscal year ended June 30 1909 of discount on securities, $291,065;
b Securities of other companies held, see list in V. 89, IL 933.
depreciation accruing prior to July 1 1909, $84,060; dividends paid during 1908-09,
Includes Walsenburg & Western, $20,997; Dallas Terminals, $248,185; Trinity
$1.633,816; sundry adjustments and accounts written off, $117,643.-V. 89, p. 918, & Brazos Valley. $160,474; Houston Terminals, 545,324; Alvord RR., $93,106;
347.
Stamford & Northwestern, $939,535; Galveston Terminals, $15,525; electrification,
$32,271.
e Includes Colorado Springs & Cripple Creek District Ry., $900; Fort Worth &
Midland Valley Railroad, Arkansas.
Denver City Ry.. including $30,972 "stamped," $32,822; Wichita Valley Ry.,
(Statement for Fiscal Year ended Jan. 30 1909.)
$900: Col. RR. Co., $500; Denver & Interurban RR. Co., $700; Wichita Falls &
Oklahoma Ity. Co.. $900; Wichita Valley RR. Co., $900; Abilene & Northern Ry.
Secretary and Treasurer, H. E. Yarnall, Philadelphia, has Co.,
$900; Fort Worth .3, Denver Terminal Ry. Co., 8900.-V. 89, p. 912,933.
favored us with a statement for 1908-09, which permits of
the following comparison:
EARNINGS AND
1908-09.
1907-08.
Earnings$
$
Passenger
267,648
228,045
Freight
672,469
752,685
Mail and express. 36,591
31,404
'• 20,947
Other
19,098
997,655 1,031,232
Total _
Net operating revenue
EXPENSES.
1908-09.
Expenses$
Maint.of way,&c. 222,853
Maint. equip__ 215,904
Traffic expenses_ 21,366
Transportation. _ 321.500
General expenses 53,853
Total _
838,485
$159,170
1907-08
$
263,845
183,86220,120
329,396
48,608
845,832
$185,400
Allis-Chalmers Co., Milwaukee.
(Report for Fiscal Year ending June 30 1909.)
President W. H. Whiteside, Milwaukee, Wis., Oct. 7 1909,
wrote in substance:
The business depression which had existed for three-quarters of the
preceding year continued with little change throughout the first half of
the fiscal year ended June 30 1909. This condition compelled your works
to be operated during the year at about 50% of their normal capacity, and
although improved methods decreased the cost of production, yet the fixed
charges (interest, taxes, insurance, depreciation, ece.) necessarily continued
nearly constant and prevented larger net earnings. MI
THE CHRONICLE
OCT. 16 1909.1
New business booked commenced to show substantial gains in January
last, and for the last half of the year averaged per month nearly 65%
more than the monthly average for the first half. This increase, with
advancing prices has continued to the present time.
Liberal sums have been appropriated out of earnings for maintenance
and betterments of the several works, with careful provision against fire
risks. All expenditures for the development and patent protection of the
newer lines of machinery, which formerly were carried forward as deferred
charges, have been deducted this year from earnings.
An unusually large number of important patents covering inventions of
our engineers were granted to the company during the year.
Uniform success continues in the sale and operation of our gas engines,
steam turbines, hydraulic turbines and electrical apparatus. With the
restoration of normal business conditions now evidenced throughout the
country, there is reason to expect an increasingly heavy volume of orders
of a steady and profitable character.
H. Woodland, Second Vice-President and Treasurer, and
W. A. Thompson, Comptroller, Sept. 24 1909, say:
Miles of Miles of
Year. poles zfe cables, wire.
1866-67 ____ 46,270
85,291
1879-80 ____ 85,645 233,534
1892-93 ____189,936
769,201
1903-04 ____199,350 1,155,405
1904-05 __200,224 1,184,557
1905-06 ____202,959 1,256,147
1906-07 ____205,646 1,321,199
1907-08 ____208,477 1,359,430
1908-09 ____211,513 1,382,500
991
No. of
Profits.
offices. Messages. Receipts.
5,879,282 56,568,925 $2,624,920
2,565
9,077 29,215,509 12.782,894 5,833,938
21,078 66,591,858 24,978,443 7,496,037
23,458 *67,903,973 29,249,390 7,887,475
23,814 .67,477,320 29,033,635 7,188,065
24,323 *71,487,082 30,675,654 7,070,583
24,760 *74,804,551 32,856,406 6,324,210
23,853 *62,371,287 28,582,212 3,402,996
24,321 *68,053,439 30,541,072 7,347,107
• Not including messages sent over leased wires or under railroad contract.
BALANCE SHEET OF JUNE 30.
1908.
1909.
1908.
1909.
AssetsLiabilities$
Telegraph lines _124,086,920 123,139,624 Capital stock_ _ _ 99,817,100 99,817,100
Stocks & bonds
38,645,000 38,645,000
Funded debt
leased cos.. _ _ _ 8,645,000 8,645,000 Gold Stock Tele1,946,592
Stock not leased
graph Co _ ___ 1,946,592
companies _ _ 17,798,672 16,497,865 Accts. payable.. 3.040,710 3,755,072
Real estate -5,088,359 5,088,359 Surplus prior to
1,598,184
1,598,184
Supp. & mater.. 1,243,472
1881
1,137,475
17,269,278 14,393,856
Accts. receivable 2,295,537
2,368,746 Surplus
Cash
3,158,903 3,278,733
Noteworthy is the gain of over $1,000,000 in working capital, which now
stands at $8,715,640, as reflected in the following comparative statement:
1908.
1909.
1908.
1909.
Current Liabil.s
$
Current Assets.
3,574,848
2,400,000
pay
notes
&
Loans
4,922,235
Notes & accts. rec. 4,741,052
5,580,447 6,220,513 Accounts payable.. 1,504,876 1,809,396
Inventories
2,299,017 1,949,129
Cash
162,316,864 160,155,804
162,316,864 160,155,804
Total
Total
3,904,876 5,384,244
12,620,510 13,091,877 Working capital_ _ 8,715,640 7,707,633 -V. 89, p. 850, 730.
mortIn the last quarter of the fiscal year there were sold $828,000 first
Lehigh & Wilkes-Barre Coal Co.
gage bonds to reimburse the treasury on account of capital expenditures
at West Allis and other works.
(Report for Fiscal Year ending June 30 1909.)
CONSOL. PROFIT & LOSS ACCOUNT FOR YEAR ENDING JUNE 30.
Pres. George F.Baer, Philadelphia, Sept. 23, says in brief:
1905-06.
1906-07.
1907-08.
1908-09.
General Results.-There were mined during the period 4,093,655 tons,
Profit on operations_ ___a$1,809,009 a$2,573,961 a$1,226,242 a$648,161
and
844,001 tons purchased [contrasting with 4,227,573 and 1,145,764 tons,
Charges for maintenance
754,928 respectively in the year 1907-08,and with 3,965,691 and 1,130,130 tons,
854,503
778,477
668,218
and renewals
281,655 respectively,in 1906-07.-Ed.) The tonnage sold was 4,849,678 tons [as
253,988
284,777
313,778
Depreciation
against 5,271,538 tons In 1907-08 and 5,126,659 tons in 1906-07.-Ed.]
Interest on bonds, loans
The tonnage of prepared sizes sold, including lump, equaled .6581%, and
505,049
805,892
720,583
and notes payable.. _ _ _
of pea and smaller .3419%.
60,000
Special reserve
4,063,636 tons of coal were mined from the company's lands; there has
$1,673,577 $1,958,147 $1,613,540 $1,036,583 been set apart out of income 10 cents per ton on this tonnage to represent
Total charges
Net earnings for year.. _sur.$135,432 sur.$615,814 def.$387,298 def.$388,422 depletion of the coal lands of the company. Depletion of coal lands fund
348,289 has been debited with the amounts credited to the mortgage sinking funds.
*229,817
157,481
Total surp. previous year. 385,997
Funded Debt.-During the year the gold bond issue of 1910 was
Expended in development
b107,613 reduced by payments of $4,013,339. There was charged to income for
of new lines of manufac.
accruals of sinking funds for retirement of funded debt, $156,861 as follows:
Bal., as per bal. sheet_sur.$521,429 sur.$385,997 def.$229,817 sur.$157,481 Consolidated extended loan, due 1910, $60,875; 5% loan of 1912, $95,986.
In addition $3,937 was received from town lot contracts for the loan of
• Deficit.
1912, making total accruals to this sinking fund, $99,023, leaving sinking
of
expenses
deducting
was
operations
obtained after
fund payments in excess of requirements, $625,093.
a The profit on
On June 1 1910 the $12,175,000 bonds issued under the mortgage of
manufacturing and selling, interest, dividends on preferred stock of the
Bullock Electric Manufacturing Co., and provision for doubtful accounts. April 27 1875 which were extended June 1 1900 for 10 years at 4 ;.6% and
b This item of $197,613 was expended in the development of new lines the $4,821,000 5% gold bond of 1910 will mature. The funded debt
of manufacture prior to June 30 1905, the amount of which is now carried Includes in addition to these bonds only the $2,691,000 5s due Nov. 1 1912.
Additions, &c.-The office building for use of the mining department at
as an asset to be charged to future operating expenses.
Wilkes-Barre will be ready for occupancy during September next. (PropCONSOLIDATED BALANCE SHEET JUNE 30.
erty account has been increased $163,801 on account of the same. The
1908.
sinking of the shafts at Inman Colliery No. 21 is progressing rapidly. The
1909.
1908.
1909.
Baltimore at the end of June 1909 being down 939 feet and the Red Ash
LiabilitiesAssets16,150,000
to 576 feet.
A6,150,000
stock__
Preferred
37,496,887
Plant,good will,&c.37,548,053
TONNAGE, EARNINGS, EXPENSES, &C.
Bills & accts. rec. 4,721,052 4,922,235 Common stock_ _ _19,820,000 19,820,000
First M.5s, outsVg11,148,000 10,325,000
1906-07.
Work in progress,
1907-08.
Tonnage shipped1908-09.
3,004,043
merchandise,&c. 5,580,447 6,220,513 Bullock Mtg. Co.
3,085,808
From company's fee lands, by company 3,082,715
outstand. stock.y1,170,700 y1,170,700
1,022,534
1,129,875
Dev.& patent acct. 1,318,092 1,341,092
980,920
do
tenants_
do
by
Accounts payable_ 1,206,501 1,809,396 From leased lands, by company
Discount az comm.
910,205
1,097,939
909,473
2,683,189 2,564,515 Notes payable__ _ _ 2,400,000 3,574,848
on bonds
224,326
203,624
156,968
do
by tenants
do
2,299,017 1,949,129 Accrued bond int_ 278,375
Cash
51,442
43,825
101,466
by
From
company
washeries,
255,000 Deprec. reserve..__ 1.714,845 1,513,430
Securities owned.._ 260,000
178,368
161,327
213,808
by
do
tenants
do
Surplus
521,429
385,997
5.390,920
5,722,399
5,445,352
Total of all
Total
54,409,850 54,749,371
54,409,850 54,749,371
Total
$
$
$
Earnings16,094,359 17,707,149 17,067,318
sales
Coal
y Includes $1,170,000 preferred,guaranteed6% per annum; also $700 common, Coal mined by tenants
434,303
456,840
383,809
owned
$1,499,300
common
by
being
the
and
Co.
Allis-Chalmers
remaining
the
22,252
126,948
124,689
Miscellaneous
deposited under its mortgage of 1906.-V. 87, p. 1301.
16,602,857 18,290,937 17,523,873
Total
Western Union Telegraph Co., New York.
Expenses6,005,932
6,365,762
6,192,312
Mining coal and repairs
650,145
(Report for Fiscal Year ending June 30 1909.)
335,951
276,798
Colliery improvements
267,835
328,433
249,511
properties
leased
Royalty
Capitalization.-There was no change during the year in the amount ot
2,751,573
2,974,503
2,091,178
Coal purchased
capital stock or bonded debt.
4,365,704
4,542,021
exp_
4,051,594
agency
and
yard
Transportation,
in
figures
submitted
naturally
this
report arc
General Results.-Tho
109,232
118,255
121,452
favored by a comparison with the adverse conditions of the previous year, General expenses
317,104
496,287
477,462
but irrespective of this comparison they show that the company has par- Taxes, State and local
19,771
17,376
17,376
Insurance
all
in
improvement
lines of business which is
ticipated fully in the marked
251,130
254,468
249,503
being experienced throughout the country; 5,682,152 more messages were Depletion coal lands fund
141,932
Cr.303,462 Cr.367,839
handled than during the preceding year. with a resultant gain of $1,958,860 Coal stocked, or sold from stock
in the gross revenues.
13,423,724 15,065,217 14,880,358
Total
Additions.-An increase of 3,036 miles in the mileage of poles and cables
2,643,515
3,225,720
3,179,133
is shown, with an increase of 23,070 miles of wire, of which 14,200 miles is Net earnings
Deductcopper. The number of offices has been increased to 24,321, due in part to
1,124,142
1,124,142
1,029,177
the re-opening of some of the offices temporarily closed by railroad com- Fixed interest on bonds
102,493
Interest on income bonds
panies.
151,528
167,100
156,861
Disbursements on construction account aggregated $947,296, or $191,211 Sinking funds
less than last year.
1,378,163
1,291,242
1,186,038
Total deductions
Contracts.-Contracts covering 4,073 miles of railroad were closed during
1,265,352
1,934,478
1,993,094
Surplus
the year with the following-named companies:
Co.
Ry.
County
IWashington
Ann Arbor RR. Co.
30.
JUNE
BALANCE
SHEET
CONDENSED
Montpelier & Wells River RR. Co.
Central of Georgia By. Co.
1908.
1909.
1909.
1908.
Virginian Railway Co.
St. Louis & Hannibal fly. Co.
LiabilitiesAssets$
$
Wabash RR. Co.
9,212,500 9,212,500
Sale of N. Y. Telephone Stock.-A development since the close of the Property & equip_30,407,696 30,286,005 Capital stock
Funded debt (see
fiscal year is the sale of the company's holdings of New York Telephone Co. Advanced royalties
2,375,798 2,296.324
for coal
"Ry.&Ind."Sec)19,687,000 23.700,339
stock (namely at par, $16,221,800, of which $9,733,100 is pledged to secure
630,394
Vouch.&pay-rolLs. 671,525
the convertible bonds). The plans of that company for acquiring other Advanced stripp'g
15,655
13,058
24,421
matured_
5,432
coal
Coupons
for
by
tai
cap
raising
additional
of
an
involved
amount
properties
telephone
413,333
Int.,
mine
499,940
rents,
Cash
was
the sale to stockholders of an issue of $35,000,000 of new stock. It
453,285
15,655
13,058
&c., not due.... _ 566,439
thought inadvisable for the telegraph company to undertake to raise the Cash for coup., &c.
large sum required for its proportion of the new issue, and advantage was 13111s & accts. rec_ 1,698,017 3,738,531 Reserve for new
collieries, &c.._ 1,888,127 2,000,624
1,859,548 1,556,086
taken of a favorable opportunity to dispose of our minority interest in the Coal on hand
24.381
21,037
Land suspense acct
telephone company to the American Telephone & Telegraph Co. (see V. 89, Land contracts not
24,175 Depletion coal land
20,976
due
p. 848). In connection with this sale arrangements have been made for
1,914,060 1,664,557
31,976
fund
12,775
retiring on May 1 1912 the $10,000,000 4% convertible bonds of this com- Insur., adv. pay'ts
359,085 Prior liens redeem.
pany, which are redeemable at the pleasure of the company on and after Material &supplies 328,255
85,554
acct. loan 1912_ 1,968,386 1,968,386
35,554
Securities owned.._
that date.
725,016 5% bonds redeem.
625,093
Sinking fund
RECEIPTS AND DISBURSEMENTS.
309,000
acct. loan 1912.. 309,000
915,032
Profit
loss
and
1905-06.
1908-09,
1906-07.
1907-08.
accruals acct. eons.
$
552,948
492073
loan extended
_
year
the
for
Revenues
30,541,073 28,582,212 32,856,406 30,675,654
Profit and loss_ __ _ 1,078,062
ExpensesOperating and general
Total
37,882,141 40,471,194
37,882,141 40,471,194
Total
expenses and taxes_ _ _ 18,211,476 19,069,813 19,257,622 17,191,039
1,553,288 -V. 89, p. 923.
Rentals of leased lines__ 1,542,520
1,546,182
1,545,571
Malnt. & reconstruction 3,124,093
4,422,960
4,139,358
5,278,203
315,877
437,784
Equip. of offices & wires
450,710
423,862
I
GENERAL INVESTMENT NEWS.
23,193,966 25,170,215 26,532,106 23,605,071
Total expenses
7,347,107
7,070,583
3,402,097
6,324,210
Profits
Disbursements1,732,250
1,732,250
1,420,061
For interest on bonds
1.327,975
(2'4)2,739,436(l %)1,714,571(5)4,868,096(5)4,868,089
Cash dividends
Total disbursements_ 4,471,086
sur.2,875,421
Balance
Sur. July 1 (beg. of year) 14,393,856
3,446,821
def.43,824
16,884,781
6,106,064
6,288,157
sur.36,053 sur.874,519
16,848,728 15,974.209
17,269,277
16,840,957
2,447,100
16,884,781
16,848,728
Surplus June 30 (end
of year)
17,269,277
14,393,857
16,884,781
16,848,728
Total
Stock dividend, 2
%
RAILROADS, INCLUDING ELECTRIC ROADS.
Abbeville & Northwestern RR.-Bond Issue-Projected
Road.-A mortgage has been made to the Knickerbocker
Trust Co. of New York, as trustee, to secure an issue of
8800,000 5% gold bonds of 8500 each, dated July 1 1909
and due July 1 1939, but subject to call any or all at 105;
interest J. Sr J. at office of trustee. The 'Atlanta Constitution" of May 21 stated the decision of the Georgia Railroad
Commission as follows:
992
THE CHRONICLE
The Commission decided that, in view of the amount of money to be way Co., the Ottawa River Railway Co. and the Montreal Bridge & TerInvested in the construction of the road, approximately $850,000, an issue minal Co. (see that company below), to authorize the company to connect
of $800,000 5% bonds and of $400,000 common stock would be amply Its line with railways on the south side of the River St. Lawrence, by means
sufficient. The company proposes to construct a railroad from Abbeville, of a tunnel or tunnels, and to provide terminal facilities in and near the
n Wilcox County, running through a corner of Pulaski, through Dooiy and City of Montreal for the use of the company and other railway companies.
to Fort Valley, in Houston, a distance of 58 miles, with a branch line from [At last accounts Senator James Domville was President. Senator McLaren
Henderson, in Houston County, to Montezuma, In Macon County, 17 miles. of West Toronto is said to be interested.-Ed.]
The officers arc: President, J. L. Bankston; Secretary, J. B. Girardeau.
Chicago Consolidated Traction Co.-Reorganization Plan.
Office, Abbeville, Ga. The road is to be operated with steam power. In
September 1909 the company expected to begin construction at an early day -A "general reorganization committee" was organized at
l
Alaska Central Ry.-Sold.--At the foreclosure sale in Chicago on Oct. 9, with Charles G. Dawes, President of the
Valdez, Alaska, on Oct. 11 the property was bid in for $600,- Central Trust Co. of Illinois as Chairman, and adopted a
000 by F. G. Jemmett, representing the interests that liqui- plan of reorganization. Mr.'
Dawes says in part:
dated the defunct Sovereign Bank of Toronto, which held
Our plan provides that the committee, in the name of a new company,
for
a
apply
shall
franchise
(similar
to that of the other railway compansome $2,400,000 of the $4,000,000 bonds. An extension to ies._Efd.), negotiating concurrently and
under the supervision of the proper
coal fields is said to be proposed.-V.89, p. 528.
representative of the city an operating agreement with the Chicago RailCo.
Alberta Central Ry.-Status.-Smith & Johnston, solici- ways
The underlying bonds (aggregating $5,208,000.-Ed.) were issued
tors, &c., Ottawa, in response to an inquiry, has favored us originally by subsidiary companies, and are all in default. The second, or
consolidated, bonds amounting to $6,750,000 (4 3s due Dec. 1 1939) are
with the following under date of Sept. 3 1909:
also in default.
Under the plan the first mortgage bondholders release their first lien, so
This company is authorized to construct a railway from the town of
Red Deer in the Province of Alberta on the line of the Calgary & Edmonton that new money can be obtained by a rehabilitating mortgage to put the
Ry., midway between the cities of Calgary and Edmonton, westerly from road in shape for good service. The present first mortgage bondholders
said town and northerly to a point on the Grand Trunk Pacific Ry. in the take a second mortgage. The consolidated bondholders cancel their
Yellow Head Pass, a distance of about 300 miles, and easterly from the bonds and receive participation receipts, issued against the stock of the
town of Red Deer to the city of Moose Jaw, In the Province of Saskatchewan, new company, which, latter will be issued for only a nominal amount.
None of the members of the general reorganization committee owns any
a distance of nearly 300 miles, with a branch line from a point on the eastern portion of the main line near Battle River to the city of Saskatoon or of the securities of either the Consolidated Traction Co. or of the Chicago
the town of Warman in the Province of Saskatchewan, a distance of about Railways Co. We are trustees, seeking to save for the owners something
120 miles. The company Is authorized to issue debentures, bonds or other out of a very serious situation.
securities to the amount of $35,000 per mile for each mile built or under
[The general reorganization committee consists of James N. Wallace,
contract to be built, and the capital stock Is fixed by Act of Parliament President of the Central Trust Co. of New York; Emile K. Boiset, Viceat $2,000,000. Westerly along the line of said railway (the only railway President of First Trust & Savings Bank, Chicago; G. P. Hoover, Viceauthorized to be built through the territory mentioned), there is a Govern- Pres. of the Harris Trust & Savings Bank; Hans Winterfeldt of the firm of
ment subsidy of $3,200 per mile for 75 miles.
Speyer & Co., New York; Andrew Cooke of the Harris Trust & Savings
The provisional directors recently organized at the town of Red Deer, in Bank; Allen Forbes of N. W. Harris & Co., New York, and Charles G.
the Province of Alberta. After organizing the first business transacted Dawes, President of Central Trust Co. of Illinois. B. F. Blye is Secretary.]
was to engage Mr. J. Grant McGregor, an experienced and successful rail- -V. 89, p. 102.
way engineer, who is already at work making the preliminary survey for
Chicago Great Western RR.-J. F. Coykendall, it is
the company and locating the line and furnishing other necessary information upon which the company may arrive at a deelsion whether to under- stated, has been elected Secretary and Treasurer, to succeed
take the work of construction.
Barnard
Atlanta & Birmingham Air Line Ry.-Consolidation Cornpleted.-See Seaboard Air Line Ry. below.-V.88, p. 370.
Baltimore & Ohio RR.-Judge Lovett Elected a Director.Judge Robert S. Lovett, Chairman of the board of directors
of the Union Pacific RR., has been elected a director and
member of the executive committee to succeed the late E.
H. Harriman.-V. 89, p. 468.
Boston & Maine RR.-New Directors.-At the annual
meeting on Oct. 13, at which 204,198 shares were voted,
about 125,000 being cast by the Boston RR. Holding Co.(see
that co. below), the number of directors was increased
from 16 to 19 and the following board was elected, of whom
eight are new men:
as Treasurer and G. F. Philleo as Secretary.R.0.
V. 89, p. 592, 528.
Chicago Indianapolis & Louisville Ry.-New President.I. G. Rawn, heretofore (operating) Vice-President of the
Illinois Central RR. Co., has been elected President of this
road, effective Nov. 1, to succeed W.H.McDoel, who resigns
after 25 years in the company's service. Mr. McDoel will
continue a director as well as a member of the executive coinmittee.-V. 89, p. 844.
Chicago Milwaukee & St. Paul Ry.-Construction.-President A. J. Earling a quoted by the "Seattle Post-Intelligencer" in regard to the Chicago Mil.& Puget Sound said:
The line Is In superb condition; much better than I had expected. We
began ballasting as soon as the rails were laid, completing it at once. We
New Men.-Robert M. Burnett of Southboro, Mass.; Walter C. Baylies, have been more than recompensed by the heavy traffic we are already enPhilip Dexter and Theodore N. Vail of Boston (the foregoing men are di- joying and the present condition of the line.
rectors of the Holding Company); Alexander Cochrane and Amory A. Law• We intend to build branches as quickly as possible, and upon the comrence of Boston (these two are directors of the N. Y. N. H. & Hartford RR. pletion of surveys now under way will build both north and south of Othello,
Edgar J. Rich of Winchester, Mass., and Earl A. Ryder, Arlington, Mass.
reaching wheat fields already yielding and districts that will be developed
()Id Directors Re-elected.-Lucius Tuttle, Brookline, Mass.; Alvah W. with transportation facilities. It is our intention to build into the Moses
Sulloway, Franklin, N. H.; Richard Olney and James M. Prendergast, Lake district. The line to the coal and timber near Enumclaw will be
Boston, Mass.; Wm. Whiting, Holyoke, Mass.; Samuel Hemingway, New started next week. Our surveys north of Grays Harbor have been comHaven, Conn.; Charles F. Linsley, Meriden, Conn.; Frederic C. Dumaine, pleted, and next season shall see our line started toward the Straits.
•Concord, Mass.; Edwin Farnham Greene, Wayland, Mass.; Fred. E.
While the Tacoma & Eastern is being extended some 20 miles to new
Richards, Portland, Me.; Edward P. Ricker, South Poland, Me.
timber districts, that must not be taken as a move toward Portland. We
Not Re-elected.-Samuel C. Lawrence,Joseph H.White, Moses Williams, have a number of branch lines In contemplation, but It is mere guess work
John L. Billard, Frank T. Brown (the last named died during the year).- to say whether there will anything come of the surveys we have made.
V. 89, p. 846. 841.
When the business warrants it we shall build. Our road Is in such splendid
condition that we could start a fast-mail service to-day, but the passenger
Boston Railroad Holding Co.-Purchase.-The stock- - service
will not begin until July next season. The hundreds of cars and
holders have authorized the directors to ask the Massa- the engines required and the many other things to insure perfect service
us to be slow. Our Oriental traffic connections have secured much
chusetts Railroad Commission for permission to purchase compel
more tonnage than we first expected. (Compare North Coast Ry. below.)
an additional $1,575,500 common stock of the Boston & -V. 89, p. 777. 590.
Maine RR. Co. at $154 per share, payable $125 in the bonds
Chicago & North Western Ry.-Maturing Debentures.and the remainder in the stock of the holding company; also
for the right to purchase $582,600 Boston & Maine preferred The $5,369,000 25-year debentures maturing Nov. 1 1909
stock at $162 per share, payable $125 in 4% bonds and will be paid when due upon presentation at the office of the
Treasurer, 111 Broadway, New York City.-V.89, p.669,663.
$29 in stock.
On Oct. 4 $10,994,800 B. & M. stock was taken over at 140. The
Chicago Rock Island & Pacific Ry.-New Director.amounts above mentioned will increase the holding to apparently $12,570,300 common (out of a total of $28,271,790), and $582,600 preferred (out R. A. Jackson, First Vice-President, and W. T. Graham,
of $3,149,800). The bond issue of the holding company will also, on the President, of the American Can Co., have been elected
basis mentioned, be increased to $16,441,125. The Massachusetts Rail- directors, to succeed Robert Mather and Alexander E. Orr.
road Commission has been asked to approve an increase in the capital stock
-V. 89, p. 918, 666.
from $1,749,200 to $2,421,600 in connection with this acquisition.
The Billard Company of Meriden, Conn., organized in Connecticut in
Chicago Terminal Transfer Co.-Change of Directors.August last as a holding corporation for B. & M.stock standing in the name
of John L. Billard, flied on Oct. 13 a certificate of increase of capital stock
Wisner Jr. were
from $50,000 to $2,000,000; the certificate was signed by John L. Billard, C. S. Holt, C. W. Taggert and W. T.
elected to the board to succeed Clarence A. Knight, W. P.
Samuel Hemingway and L. L. Hemingway. (Compare V. 89, p. 528.)
Directors of Boston & Maine.-See that company above.- Nelson and W. W. Miller, who resigned.-V. 88, p. 1127.
Current newspaper gossip is to the effect that negotiations are pending
V. 89, p. 917, 846.
which will probably result in the Baltimore & Ohio taking over the interest
British Columbia Ry.& Development Co.-Incorporated.- of the Chicago Burlington & Quincy In the company, amounting, It is said
between $5,000,000 and $6,000,000 of preferred stock, plus 6% interest,
This company was incorporated under the laws of Delaware to
this to be followed by purchase of the property at foreclosure sale.,on Aug. 24 1909 with $12,000,000 of authorized capital stock. V. 88, p. 1127.
-The company owns the charter of the British Columbia
Report.-For year ending June 30:
Northern & Alaska Ry. The directors are: Dean V. Wol- Fiscal
Other
Total
Oper. income
Operating
Balance,
Yearrevenue.
(after taxes). income. deductions. deficit.
kenstein, Harold G. Villard and James W. Howie of New
$698,411 $681,630 $84,945
1908-09
def.$101,726
$1,091,817
York City, and Sylvester D. Townsend, Wilmington, Del.
1907-08
674,897
1,095,518
def.127,359
690,138 142,600
Cleveland & Pittsburgh RR.-Listed.-The New York
Buffalo & Susquehanna Ry.-Report.-For 12 months
Stock Exchange has listed $583,750 additional special guar-ending June 30:
Fiscal
Other Inc. Gross Cor- anteed betterment stock, making the total amount listed to
Operating
Net (after
Other Inc.
Year.
Revenue.
Taxes).
(Operation). (Investm'ts). porate Inc. date $9,387,550.
$146,194
1908-09___$2,299,294
$290,130
$124,141
1907-08___ 2,025,472,
-V. 89, p. 846, 665.
119,120
167,244
138,060
$500,465
424,424
Camden & Trenton (Electric) Ry.-Sale.-The foreclosure sale, it is said, is set for Nov. 12.-V. 88, p. 1252.
Central Railway of Canada.-Project Still Alive.-This
company, which in 1906 issued a prospectus touching a
project for a 670-mile road between Montreal, Toronto,
Ottawa, Port of Midland on Georgian Bay and other points,
some time since gave the followina notice through its
Acting Secretary, H. W. Raphael of Montreal:
Application will be made to Parliament of Canada, at the present (late)
session, for an Act extending the time for the construction of the Central
Railway of Canada to authorize the company to increase its bonding powers,
-to confirm agreements between the company and the Ottawa Valley Rail.
The new stock represents new equipment ($269,976), second, third and
fourth tracks, storage yards and track elevation ($119,106), right of way
and station grounds ($194,634); remainder for various purposes.
Earnings.-For six months ending June 30 1909:
Gross earnings
$4,223,719 Rentals of tracks, &o
Oper. exp. and taxes____ 2,885,785 Hire of equipment
-- Dividend fund
Net earnings
$1,337,934
DeductTotal deductions
Interest on bonds
$192,494 Balance, surplus
Fund for maint. of org'n_
5,5001
,
___Ar, 87, p. 812.
$149,274
44,196
569,565
$961,028
$376,906
Concord & Montreal RR.-New Stock.-The shareholders
on Oct. 13 authorized the issuing of $250,000 new stock to
cover the cost of water-power privileges on the Pemigewasset River in Franklin, N. H., and their develop-
OCT. 16 1909:
THE CHRONICLE
ment to produce electricity for motive power and the operation of car shops in Concord.—V. 86, p. 668.
Denver Boulder & Western RR.—New Officers.—At the
annual meeting at Boulder, Col., on Oct. 4 the following
were elected as directors for the ensuing year:
W. M. Culbertson, Girard, Pa.; W. B. Hayes, Boulder, Colo.; Chas. D.
Marvin, 18 Wall St., New York; J. T. Odell, 50 Church St., New York, and
E. E. Whitted, Denver, Colo.
President and Treasurer, W. B. Hayes; Vice-President, W. M. Culbertson; Secretary, Charles L. Williams; Assistant Secretary, F. M. Patchen.
Earnings —The earnings for the 5 months ending Aug. 31
last (the new company having taken possession April 1)
were: Gross earnings, $76,873, against $35,043 for the same
months in 1908; net, $16,527, against $1,959.—V. 89, p. 41.
Denver Northwestern & Pacific Ry.—Sale of Guaranteed
Bonds.—See Northwestern Terminal Ry. below.—V. 88,
p. 1127.
Denver & Rio Grande RR.—Listed.—The New York Stock
Exchange has listed $5,011,000 additional first and refunding
mortgage 5% bonds, due 1955, making the total amount
listed to date $27,944,000.
993
Gulf Texas & Western Ry.—Equipment Trust for New
Road.—The Texas Board of Railroad Commissioners on
Aug. 27 approved a mortgage to secure an equipment trust
of $27,200 of 5% bonds, payable in semi-annual installments
of $1,360 each. Megargel & Co. are the financial agents
in this city.
The company has purchased 50 box cars of 60,000 capacity each from
the Haskell & Baker Car Co. of Chicago, to be delivered Sept. 20, the purchase price being $34,000, of which 20% is to be paid in cash. The company, incorporated in Oct. 1908 with $500,000 authorized stock, is the successor of the Dallas & New Mexico (V. 87, p. 677). and proposes to build a
line from Burr's Ferry to Benjamin, Tex., 475 miles. On April 15 1909
there had been completed from Jacksboro to Olney, Tex., 41 miles, and
grading had been completed from Letot to Booneville, 67 miles. It was
expected to complete 81 miles during 1909. The estimated cost of the
road is $10,000,000. At last accounts no bonds had been issued. President, J. J. Jerrnyn, Scranton, Pa.: Vice-President, Roy C. Megargel; VicePresident and General Manager, Ben B. Cain, Dallas, Tex.; Secretary aud
Treasurer, W. Frank Knox. Tyler, Tex.
Illinois Central RR.—Report.—See "Annual Reports".
Through Route to Jacksonville.—The company announces
that on Nov. 15 it will open a new through passenger route
between Chicago and Jacksonville, Fla., the line to be over
the Illinois Central to Birmingham, Ala., thence over the
Central of Georgia to Albany, Ga., and from Albany to JackPurposes for which the $5,011,000 Bonds Listed have been Issued.
sonville over the Atlantic Coast Line. A fast solid passenger
To purchase $6,100,000 Western Pacific Ry. 2d mortgage 5%
train will be run daily between the two cities.—V.89, p.103.
bonds which have been deposited under the "first and refunding" mortgage (total $23,230,000 W.P. bonds being now dep.)$5,000,000
Lake Erie & Youngstown Railway.—Mortgage.—This
11,000
To be used for general purposes
company was incorporated in Ohio on March 29 1907 with
—V. 89, p. 589, 602. 593.
$10,000 of authorized capital stock, which in April lastDetroit Lansing & Grand Rapids Electric Ry.—Mortgage. was increased to $3,500,000,
to build a 60-mile interurban
—The company has filed a mortgage to the Union Trust Co. railway
between Youngstown and Conneaut. A mortgage was
of Detroit,as trustee, to secure an issue of $5,000,000 of 30- filed in 1908 to the Windsor Trust
Co. of New York, as
year 5% bonds dated July 1 1909.
trustee, to secure an issue of $3,000,000 5% 20-year bonds
Construction of the proposed road, 150 miles in length, it is reported,
Is expected to begin in the spring of 1910. The company was incorporated of $1,000 each, to provide for construction and equipment.
last month with $25,000 authorized stock. President, Oliver H. Lau;
Vice-Prestdent, Henry M. Wallace; Secretary and Treasurei, G. Valentine.
John H. Ruhlman of Youngstown is President. Besides Mr. Ruhlman
the incorporators were G. M. Brown, W. F. Stanley, G. J. Chapman, F. J.
Cheney, W. H. Ruhlman and A. W. Jones. General construction, we are
Detroit United Ry.—Bonds.—Application has been made Informed,
has commenced, and road has been financed. Maximilian Kahn,
to the Michigan Railroad Commission for authority to issue 42 Broadway, N. Y is interested.
in January next $2,000,000 of the company's bonds for the
Middlesex & Boston Street Ry.—Consolidation.—The
purpose of taking up indebtedness, including, it is under- Massachusetts Railroad Commission has approved the constood, the $2,000,000 5% collateral trust notes due Feb. 15 solidation of the Middlesex & Boston and the Newton &
1910 and for improvements.
Boston Street Ry. companies, the former to issue mom()
On Dec. 31 1908 the company owned some $2,000,000 of its consol. 4 Ms, additionaLcapital stock to carry out the merger.—V.89,p.778.
including $1,400,000 pledged as:part collateral for the aforesaid notes.—V.
88, p. 448, 563.
Minneapolis St. Paul & Sault Ste. Marie Ry.—Listed.—
Dyersburg Northern RR.—Change in Control.—This road, The New York Stock Exchange has authorized to be listed
extending from Dyersburg to Tiptonville, 31 miles, it is an- on and after Oct. 15 $2,016,000 additional preferred stock
nounced, has been acquired by John H. Watkins of New and $4,032,000 additional common stock, subscribed for by
York, S. G. Latta and Ernest Rice of Dyersburg, for a re- the stockholders in April last, on notice of issuance and
ported price of $316,000. An extension from Tiptonville to payment in full, making the total authorized to be listed
Hickman, Icy., is expected to be completed in about six $10,416,000 preferred stock and $20,832,000 common stock.
months. See V. 83, p. 94.
—V.89, p. 779, 775, 287.
Stook, $300,000; par $100. Bonds, 1st mortgage 30-year $1,000 coupon
Missouri Kansas & Texas Ry.—New Control.—The followgold 55 dated Jan. 1 1907; authorized amount, $1,000,000; outstanding,
$250,000; subject to call at 105 on July 1 1911 on 30 days' notice; Bank of ing statement was given out on Thursday at the office of
Commerce ‘So Trust Co. of Memphis, trustee. Directors: S. G. Latta, Edwin Hawley in this city.
(President); J. C. Doyle (Secretary and Treasurer) and Ernest Rice, all of
Dyersburg, and W. A. Buckner and John H. Watkins of New York.
Everett (Wash.) Railway, Light & Water Co.—Mortgage.—A mortgage dated Feb. 1 1909 has been made to the
American Trust Co. of Boston, as trustee, to secure an issue
of $4,000,000 bonds, of which $2,000,000 are to be used
only in taking up underlying bonds (see page 46 of "Electric
Railway Section"), and the remaining $2,000,000 is to be
issued, as stated.under Seattle Electric Co. in V. 88, p. 1062.
—V. 88, p. 1061.
Forty-Second Street & Grand Street RR., New York.—
Metropolitan Street Ry. Receivers Permitted to Continue
Rental Pending Reorganization but not to Assume Lease.—
Judge Lacombe on Oct. 8 denied the company's request that
receivers Joline and Robinson of the Metropolitan Street
Railway be directed to elect, within a time to be fixed by
the Court, whether or not they will assume the lease of the
road 'mule by the Metropolitan Crosstown RR. Co. on
April 6 1893. The Judge says:
The rent reserved upon this lease, 18%, upon the outstanding capital
stock ($748,000) may have been reasonable when the lease was executed,
but under existing conditions it is grossly exorbitant. The Court is not
without hope that before many months the property may pass out of
receivers' hands upon sale or otherwise, and it would seem very unwise
for them to encumber it with any such burden in the future. If the
petitioner thinks it can show that there are some special reasons why the
system should retain this particular road, even at a preposterous price,
It may take an order sending to a special master to take testimony. The
papers admitted on this motion are not convincing.
its the interim between now and foreclosure sale and subsequent delivery
the receivers may continue the stipulated rental without adopting the
lease and without prejudice to any subsequent motion by any party interested to disaffirm the lease unless the rental be reduced. The motion
is denied.
A large interest in the railway has been purchased by Edwin Hawley
and B. F. Yoakum, which, in connection with that of Speyer & Co., gives
them a predominating strength in the property. This adds another important territory friendly to the system which Mr. Hawley has, by the purchase of the Chesapeake & Ohio and Alton properties, created within the
last few years, and is an important factor in the strengthening of all.
Mr. Yoakum's lifetime work has been in building up and developing the
Southwest. This road serves that territory, and his connection with it.
will both aid in the development of the property and the building-up of the
country which It serves. Mr. Hawley's and Mr. Yoakum's relations have
always been friendly in railroad properties, and this only brings them together in a more concrete and effective way.
While Mr. Yoakum's participation in the deal is said to be
entirely a personal one and not to involve the Rock Island
Co. or any of the lines of the system, it is expected that close
relations will, as a. result of the deal, be maintained between
the two systems.
. Mr. Hawley is quoted as saying that the stock purchased.
was acquired both in the open market and through outside
negotiations, a large part having been purchased from.
Dutch and English holders.
New President.—Mr. Hawley. Chairman of Board.—AdrianH. Joline issued the following statement announcing his resignation as President:
It has been manifest for a long time that the Missouri Kansas- & Texas.
system must eventually be allied with some strong railway interest, in,
order that the property might be developed and its business increased.
I have occupied the position of President for the last three years in expectation that some alliance beneficial to the property would be made.
Messrs. Hawley and Yoakum and Speyer Brothers, who have been financial members of the road for some years, have acquired such an interest
as In my judgment renders it desirable that they should assume charge of
Accordingly, I resign the chairmanship and
the active management.
presidency. Mr. A. A. Allen, for many years Assistant General Manager
of the company, will succeed me as President, and Mr. Hawley will be
Chairman of the board.—(These men were elected t the positions named
on Thursday.—Ed.]
Gary & Interurban Ry.—Bonds Offered.—Cram, Mulliken
New Directors and Executive Committee.—The following
& Co., New York and Boston, are offering at 943/i and
interest $350,000 first mortgage 5% 20-year gold bonds of changes in directors have been made:
New Directors Elected.—Edwin Hawley, B. F. Yoakum, Hans Winter$500 each, dated June 1 1909, and due June 1 1929; but feldt,
Speyer & Co.; Frank A. Vanderlip, President of the National City
redeemable at 105 and interest, being part of a total author- Bank,of
and Frank Trumbull, President of the Chesapeake & Ohio.
Old Directors Retired.—Adrian H. Joline, R. W. Maguire, Henry W.
ized,issue of $500,000.
Charles G. Hedge.
The Broadway line in Gary, now in operation, is 3 miles in length, extending from the mills of the U. S. Steel Corporation via the depots of the
six trunk line railroads to the Calumet River. Construction on 5th Ave.
In Gary is completed. Projected via 5th Ave. a distance of 7 miles, almost
to East Chicago. Under construction on 11th Ave. via Tolleston Into
Hammond 10 miles. For the six months ending Aug. 31 gross earnings were
$19,827; net, $4,984. Estimated earnings are three. times the interest
charge. Compare V. 85, p. 1461.
Grand Trunk Railway of Canada.—New President.—
Charles M. Hays, General Manager, has been elected President to succeed Sir Charles Rivers Wilson, who resigned, and
Alfred W.Smithers, who has been a director for 14years, and
Vice-President for 5 years past, becomes Chairman of the
Board.—V. 89, p. 470.
Poor, J. G. Metcalfe and
The execu tive committee consists of the five new directors,
together with James N. Wallace, President of the Central
Co.—V. 89, p. 717, 721, 408.
•Trust
National Railways of Mexico.—New Director.—Hans Winterfeldt of Speyer & Co., New York, has been elected a
member of the board to succeed James Speyer.
Remaining Notes of Mexican Central Called.—Four-year
5% gold notes to a total of $8,380,000, due July 11910, issued under trust deed dated July 2 1906 12y the Mexican
Central Ry. Co., have been called for redemption at par and
interest at the New York Trust Co. on Jan. 1 1910. This
994
THE CHRONICIA
[VOL. Lxxxix.
payment will complete the redemption of the entire outstanding issue of these notes, June 30 1908 $31,738,776.—
V. 89, p. 594, 225.
Nebraska Traction & Power Co.—New Enterprise—Bond
Issue.—This company, incorporated at Omaha, Neb. on
Sept. 26 1908, its authorized capital stock being $500,000
common and $1,500,000 5% cum. non-voting pref. in $100
shares, some months ago filed a mortgage to the Midland
Guarantee & Trust Co. of Omaha, as trustee, to secure an
issue of $1,330,000 first mortgage 6% sinking fund gold
bonds. The first division of road at last accounts was nearly
completed, 7 miles in length, connecting Omaha, South
Omaha, Ralston and Papillion.
Fitchburg & New Bedford RR. 5s maturing Jan. 1 1910.
—V. 88, p. 507.
Oregon Short Line RR.—Director.—F. V. S. Crosby of
New. York was elected to fill a vacancy.—V. 89, p. 42.
Ottumwa (Ia.) Railway & Light Co.—Dividend.--H, M.
Byllesby & Co., engineers-managers, Chicago, announce the
declaration of a quarterly dividend of 1% upon the
$500,000 preferred stock, payable by check Oct. 15 to stockholders of record Oct. 5. This is understood to be the
initial dividend.—V. 82, p. 1269.
Pittsburgh McKeesport & Westmoreland St. Ry. —Bond
Issue.--1--The shareholders will meet Oct. 27 to ratify the
On Sept. 5 1909 there were outstanding, or about to be Issued, $100,000 sale to foreign interests of $500,000 of the block of $1,common stock, $100,000 preferred stock and $87,000 bonds. The bonds 000,000 treasury bonds,
being the unissued portion of the
are dated Oct. 15 1918 and due Oct. 1 1938, but subject to call on an
$2,000,000 bonds dated 1906 below described.
after Oct. 15 1908 at 105. Denominations $100, $500, $1,000. Interes
A. & 0. 15 at Omaha Nat. Bank. Sink. fund 2% to 4% of earnings. The
Bonds Offered.—George D. Cook & Co., ew York, and
mortgage covers the following franchises: 1. Franchise granted by the
County Board to Shimer & Chase for the right to use Q St. from the limits Edward Lynch & Co., Philadelphia are Offering, at 95 and
of South Omaha to Ralston for a street railway track. 2. Franchise interest, the unsold portion (about i650,000) of the present
granted to William D. Cr1st for an electric light, power and street railway
company in Papillion. 3. Franchises for an electric light, power and street issue of $1,000,000 first mort. 30-year 5% gold bonds, dated
railway plant, and also for a telephone and telegraph system, in Ralston. Dec. 1 1906 and due Dec. 1 1936, but redeemable at 110
Pres., Mel Uhs;Sec., J. F. Emmert; Treas., F. A. Howard; Gen. Mgr., W.D.
and interest on Dec. 1 1916 and on any semi-annual interest
Crist. General office, 315-316 Range Bldg., Omaha, Neb.
date thereafter. Denominations $500 and $1,000c*. A
New York Central & Hudson River RR.—Marvin Hughit circular says in brief:
Elected a Director.—Marvin Hughitt, President of the Chicago
Total length of road when completed, 40 miles. Total length of road
& North Western Ry., has been elected to the directorate, now built and in operation,
about 11 miles. Bonded debt (authorized
succeeding the late E. H. Harriman. Mr. Hughitt was mortgage limit), $2,000,000; bonded debt outstanding, $1,000,000;
in treasury for extensions and improvements, $1,000,000. These
also elected a director of the Lake Shore & Michigan Southern held
bonds are a first mortgage on a railway now being operated between McKeesport and Irwin, a distance of about 11 miles, and on other lines now under
Ry. and the Michigan Central RR.—V. 89, p. 411, 287.
construction. The bonded debt is limited to $40,000 per mile.
The earnings are satisfactory and show a substantial increase each
New York New Haven & Hartford RR.—Control of Boston month.
Franchises perpetual; broad and liberal in character, permitting
& Maine RR.—See that company, also Boston Holding the carrying of freight and coal.
The Irwin Division Is in operation (using the West Penn Railway Into
company above, and compare V. 89, p. 847, 919.
McKeesport) for a total distance of 11 miles, extending from McKeesport
Circleville and Hahntown to Irwin. It is intended
Norfolk & Southern Ry.—Foreclosure Sale Ordered.—Judge through Couiterville,
to extend the line one-half mile to 5th Ave. and enter the city over the
Waddill in the United States District Court at Richmond, Pittsburgh Railways on 5th Ave., McKeesport, via the business and
Va., on Oct. 14 ordered the sale of the road under the "first manufacturing districts, Instead of through the residential district, as
operated. Midway between McKeesport and Irwin the company
and refunding" mortgage of 1909. Harry K. Walcott and now
has opened a country play ground and club house, which has proven a
E. R. Baird Jr. of Norfolk; Thomas J. Jarvie of Greenville, popular resort. The Herminie Division (4 miles) passes through the coal
mining towns of Riliton and Herminie, connecting with the Irwin division
N. C., and Frederick Hoff of New York, are appointed near
Hahntown, about a mile from Irwin. On the Youghiogheny River
special masters to conduct the sale.—V. 88, p. 1002.
Division we are now building between Herminie and Donora, 12 miles.
The Donora Division (4.3 miles, Donora to Eldora, via Webster and
Norfolk & Western Ry.—Dividend Again Placed on 5% South Donora) will give service to the populous hill district
of Donora
to Eldora Park, the only amusement resort on the upper Monongahela
Basis.—The company has declared a semi-annual dividend of and
River, its average weekly attendance being 20,000. The Monongahela
23/2% on its $64,469,200 common stock, payable Dec. 17 to Division (5 miles) passes through the coal and manufacturing towns of
Ella Mine, Sunnyside Mine, Gallatin Mine, Manown and Monongahela.
stockholders of record Nov. 30, comparing with 2% paid The
earnings of the system will be greatly
by reason of the
June last. In October 1906 a payment of 2
was made, numerous connections with other lines, both increased
steam and trolley—chiefly
at
McKeesport,
Irwin, Monessen and Eldora. Compare V. 88, p. 565.
'Placing the stock on a 5% basis; but this was reduced in
April 1908 to 4% per annum, which has been the rate until
Quebec Central Ry.—Report.—For year ending June 30:
the present disbursement.
Fiscal
Gross
Working
Net Oper.
Other
Net
Dividend Record.
'97. '98. '99. '00. '01. '02. '03. '04. '05. '06. '07. '08. '09.
Preferred (%)_ 1
3
4
4
4
4
4
4
4
4
4
4
4
Common (%)2 2M 3
-_
3 33i 4M 5
4 43i
—V. 89, p. 91-9, 666.
North Coast• Ry.—Construction.--The "Railroad AgeGazette" of Oct. 9 has the following regarding this mysterious enterprise:
Work is now under way on this line, which was organized to build about
700 miles in the State of Washington, viz.: Spokane, Wash., west via
Tacoma to Seattle, 378 miles; Portland Junction, Ore., to Portland, 85
miles; Kiona, east to 'Walla Walla, 48 miles; Walla Walla, north to Ritzville, 84 miles; Ritzville, north to Davenport, 45 miles; Palouse Branch,
Spokane southeast to Tekoa, 41 miles; Priest Rapids branches along the
Columbia River; branch from Ritzville, west, and another from Walla
Walla, southeast to the Salmon River in Idaho.
About 100 miles has been graded on the line. An officer writes that
contract has been given for the remainder of the grading on the Spokane
Division. Track-laying material is now being received at Kennewick and
at Attalla. On the Yakima Division the work will be light. The bridges
include an important structure over the Columbia River at a point about
two miles below the mouth of Snake River; a contract for a Howe truss
bridge with concrete piers at this place has been let.. Work is under way
on three 150-foot Howe truss spans over the Yakima River at Mona, as
well as a number of smaller bridges and trestles on the Yakima Division
between Attalla and North Yakima, 97 miles. Contracts have also been
let for work on 23 miles of the Palouse Branch; the work is heavy, being
mostly through rock, with steel viaducts, aggregating 2,500 feet, at a
maximum height of 160 feet, and seven tunnels, aggregating 7,610 feet.
(A Chicago paper claims to have authority for the statement that
Chicago Milwaukee & St. Paul Interests are back of the enterprise. Other
persons are equally certain that some other system, or perhaps independent
interests which expect to sell out advantageously, are really the promoters.—Ed.) Compare Chicago Milwaukee & St. Paul above, and compare V. 88, p. 686; V. 87, p. 480.
Year—
earnings.
expenses,
revenue,
income.
income.
1908-09
$1,021,682
$724,918
$296,764
$9,176
$305,940
1907-08
1,110,724
787,293
323,431
5,334
328,765
The surplus as above in 1908-09 added to the balance of $25,734 brought
forward makes a total of $331,674, from which payments were made as
follows: Interest on 4% debenture stock, $102,736; interest on 3% debenture stock, $49,348; Interest on 7% Income bonds (7%), $115,145; transferred to "reserve contingent fund" (making the amount to the credit of
this account $65,000), $18,213; balance carried forward, $46,232. During
the year 125,000 of the 4% debenture stock was issued for capital purposes,
increasing the amount outstanding June 30 1909 to 1529,837. The extension from St. George to St. Justine, about 30 miles, commenced in the spring
of this year, is expected to be open for traffic early In 1910.—V.80, p. 529.
Railways Company General, Philadelphia.—First Quarterly
Dividend.—This company, having paid a first cash dividend
of 10% on Sept. 15 for the fiscal year endingJune 30 1909
has now declared a quarterly dividend of 1%, payable
Nov. 1 on stock of record Oct. 20. See V. 89, p. 594, 776.
Rutland RR.—Protective Committee.—T. C. Delavan of
Cummings & Co., New York, acting for the protective committee of minority shareholders, has issued his sixth annual
appeal for proxies to be used by him at the annual meeting
Oct. 19 in seeking representation on the board; a contribution of $2 50 a share is also asked to be used in an effort to
enforce the rights of the minority in the courts. Out of a
total of 92,570 shares (90,576 pref. and 1,994 common),
Mr. Delavan represented last year 14,517 and the N. Y. Central interests 57,857, the total minority shares numbering
apparently 34,713.—V. 88, p. 681, 232.
St. Louis & San Francisco RR.—Listed.--The New York
Stock Exchange has listed $1,022,000 additional 4% refunding mortgage bonds, due 1951, making the total amount
listed to date $67,022,000.
Northwestern Terminal Ry., Denver, &c.—Sale of Guaranteed Bonds.—A number of well-known banking houses,
among them New York firms, have purchased this company's first mortgage 5%. gold bonds, due July 1 1926, inOf the bonds, $1,000,000 have been used for additions,improvements(and
terest J. & J., Mercantile Trust Co., trustee; authorized,
$3,000,000; outstanding, $2,025,000. Principal and inter- betterments and $22,000 to retire an equal amount of underlying bonds.
Earnings.—The application to the Exchange furnishes
est guaranteed by the Denver Northwestern & Pacific Railway Co. by endorsement on each bond. Redeemable from the results of operation for the year ending June 30 1909,
July 1 1911 to July 1 1916 at 105 and interest; thereafter which we compare with those for the previous year as given
in the pamphlet report, as follows:
at 1023/i and interest.
These bonds are a first mortgage on all property of the company,including
real estate, franchises, road-bed and equipment. The real estate consists
of 40 acres of extremely valuable and advantageously located terminals in
the railroad centre of Denver; 52 acres of right of way in that city; and
39 acres of freight terminals at Utah Junction, three miles north of Denver,
conservatively appraised by independent experts in excess of $2,500,000.
The company's facilities also are used by the Denver & Northwestern and
the Denver Laramie & Northwestern (V. 89, p. 593, 922).
The Denver Northwestern & Pacific Railway Co. (compare V. 88,
1127) leases the Terminal Co. for 99 years and agrees to pay annually an
amount equal to 5% interest on all outstanding bonds; to pay all taxes;
to fully maintain the terminal property; and to guarantee unconditionally
..the payment of principal and interest on the entire issue of Northwestern
Terminal bonds. See also D. N. W. & P., V. 81, p. 1315; V. 82, p. 1211;
V. 86, p. 1281; and Northwestern Terminal Ry.—V. 79, p. 1705.
Operating (Net after
Fiscal
Fixed
Other
1st Pref. Balance,
revenue,
Year.
taxes),
charges. Div.(4%) surplus.
income.
1908-09 $38,195,738 $11,487,119 $816,057 $10,974.591 $199,742 $1,128,843
1907-08 35,806,132 9,764,792 1,548,557 10,854,283 199,742
259,324
—V. 89, p. 779, 529.
Seaboard Air Line Ry.—Six New Directors.—On Oct. 7
six new men were elected to the board, three to fill vacancies
caused by the resignations in June of Thomas F. Ryan,
W. A. Garrett and J. H. Dooley and three as additional
members. This increases the board to 19, and returns to the
management those "most heavily and directly interested in
the property" as contemplated in the harmonious reorganiOld Colony RR.—New Stock.—The Massachusetts Rail- zation. The board now includes:
New men: L. F. Loree, President of Delaware & Hudson Co.; John B.
road Commission has been asked to authorize the issuing of
Ramsay of Baltimore; John Skelton Williams, who was formerly President
12,000 additional,shares of capital stock, to be offered to of
the company; J. William Middendorf of Baltimore; Hennen Jennings of
stockholders proportionately at $195 per share, the proceeds Washington, and Franklin Q. Brown, of the firm of Redmond & Co., New
York. Other directors: B. F. Yoakum, Ernst Thalmann, H. R. Duval,
to be used in part in paying $1,912,000 Boston Clinton James A. Blair, Norman B. Ream, N. S. Aleldrum and Y. Van den Berg
OCT. 16 1909
THE CHRONICLE
of New York; S. Davies Warfield and Townsend Scott, Baltimore; and C.
Sidney Shepard, New Haven, N. Y.; H. Clay Pierce of St. Louis; Wallace
B. Dunham of Boston, and George W. Watts, Durham, N. C.
Consolidation with Subsidiaries.-On Sept. 29 and 30
the following five subsidiaries were merged in the parent
company (the Seaboard Air Line Ry. Co.), increasing the
mileage of the system by about 400 miles and making the
total mileage exceed 3,000, namely:
Atlanta & Birmingham Air Line Ry.(V. 88, p. 370), operating 237 miles;
Florida West Shore Fly., operating 70 miles; Plant City Arcadia & Gulf
By., operating 19 miles; Catawba Valley By., operating 22 miles, and the
Tallahassee Perry & Southeastern Ry., operating 39 miles. Compare
V. 89, p. 840.
Southwestern Traction Co.,London, Ont.-Reorganization.
Plan.-A plan for the purchase of the properties of the
company in the interest of its bondholders has been prepared
by the Royal Securities Corporation of Montreal in conjunction-With the Electrical Securities Trust of Edinburgh,
Scotland, the holder of over 60% of all the bonds.
The owners of a majority of the outstanding bonds have assented to
the plan. All bondholders are invited to deposit their bonds with the
Royal. Trust Co. at their office in Toronto or with the Bank of Montreal
in London, England, before Oct. 20. The company owns some 29 miles
of electric railway extending from London to Port Stanley, via St. Thomas;
projected to Hamilton, Glencoe, &c. Authorized capitalization, stock,
$1,000,000; 1st mtge. 5% bonds dated 1904, $25,000 per mile.
Issued at last accounts, stock, $359,000; 1st 5s, $700,000. The London
& Western Trusts Co., London, Ont., the mortgage trustee, was appointed
receiver on March 25 1909 and the property is to be sold at auction in
London, Ont., on October 20.
Suburban Depot Co., Denver.-Bond Issue.-The shareholders will meet in the Majestic Building, Denver, Oct. 20
1909, to vote on authorizing not to exceed $250,000 5% 20year bonds, secured by a mortgage upon the entire property.
Howard S. Robertson is President and Alfred C. Montgomery is Secretary.
Tonopah & Goldfield RR.-New Officers.-M. B. Cutter,
formerly General Manager of the Lehigh Valley RR., has
been elected President and General Manager; and Samuel
Bell Jr. of Philadelphia, a director of the Tonopah Mining
Co., has been made Chairman to succeed Thomas M. King
of New York, who declined re-election. Mr. King had been
in control of the management since the death of President
C. K. Lord, Oct. 30 1907. Richard H. Rushton was reelected First Vice-President and Treasurer and J. S. Austin
was re-elected Second Vice-President.-V. 87, p. 1606.
Union Pacific RR.-Director.-Henry W. De Forest has
been elected a director to succeed William Mahl.-V. 89,
p. 920.
United Railways Co. of St. Louis.-Listed.-The New
York Stock Exchange has listed $1,500,000 additional first
general mortgage 4% bonds, due 1934, making the total
amount listed a date $30,769,000.
These $1,500,000 4% bonds were pledged in 1907 to secure
the $1,200,000 collateral trust which matured July 1 1909.
Earnings.-For year ending June 30 1909:
Gross earns. & oth. Inc_ _510,821,180
Operating expenses
5,563,901
Gross income
5,257,279
698,692
Taxes
-V. 88, p. 1255.
$538,562
Depreciation
2,807,820
Interest on bonds, &c
Divs. on pref. stock, 5%_ 849,160
363,045
Balance, surplus
995
Capitalization: capital stock, $190,000; first mortgage 5s authorized and
issued, $150,000. Earnings for year ending June 30 1909: Gross, $41,682;
net (after taxes), $16,710; bond interest, $7,400; balance, surplus, $9,310.
The Worcester Consolidated Street Ry. Co. purchased practically the entire
capital stock in January 1908, and is now operating the property, which includes 8 34 miles of street railway connecting Worcester with the town of
Holden and with Jefferson, approximately 2 miles being upon private right
of way, owned in fee.
INDUSTRIAL, GAS AND MISCELLANEOUS.
Advance Lumber Co., Cleveland.--Guaranteed Bonds.See West Virginia Timber Co. below.
American Ice Co.-Former Director Re-elected.-W. A.
Tucker, who resigned from the board early in the year, has
again been elected a director to succeed G.B.Johnson.
-V. 89, p. 920, 349.
American Petroleum Co. of California, Los Angeles.-Dividend Increase-New Stock.-The company announces that
dividends, heretofore 6% yearly, will on and after Nov. 1
1909 be 1% per month on all stock-i. e. 12% per annum.
Stockholders had the privilege until Oct. 15 of buying their
proportion of the 10,000 new shares of common stock at
$66, paying 10% monthly. The company reports:
Authorized capital stock. $15,000,000; preferred, 6%, non-cumulative.
$2,500,000; common, $12,500,000. Issued to Oct. 10 1909, preferred.
18,650 shares; common, 80,000 shares; par, $100 each. Bond issue, $1,000,000 6% gold, dated June 1 1908 (total authorized, $2,000,000), due
June 1 1920, but subject to call on and after June 1 1914 at 106; par, $1,000,
$500 and $100. Interest J. & D. at Southern Trust Co.. Los Angeles, the
mortgage trustee; sinking fund 6% annually from June 1 1910.
Property, 80 acres of oil lands at Sherman Junction and 1,400 acres of
the best oil lands in California at Coalinga; owned in fee or contract. Has
26 producing wells with daily production of 7,000 barrels. Production is
sold, ahead for five years at fixed prices. Amount so far expended for land
and development, $3,616,143. Revenue from sales to Sept. 1 1909,
$783,000. Net earnings applicable to dividends are $120,000 per month.
The preferred stock will be subject to call at par after payment of 6%
dividends for 5 years. President, E. L. Doheny; Sec. and Treas., Norman
Bridge, Security Bldg., Los Angeles. [Bondholders, it is stated, have the
right until Nov. 1 of exchanging their bonds for common stock at the rate of
four shares for each $100 of face value in bonds by paying $120 in cash with
each order.-Ed.j-V. 89, p. 412.
American Shipbuilding Co.-Report.-The results for the
fiscal year ending June 30 were:
Fiscal
Year1908-09
1907-08
1906-07
Common
Deprectarn, Pref.
Net
divs.
dividends.
earnings. add'ns,&c.
$1,257,722 $379,643 $553,000
387,961
553,000 (6%)$456,000
1,713,908
701,334
553,000
2,307,779
(6%)456,000
Balance.
surplus.
$325,078
316,947
597,445
New Officers.-James H. Hoyt, general counsel of the
company, has been elected a director to succeed John A. MeGean. R. B. Wallace has been appointed General Manager to succeed R. W. Logan, who resigned.-V. 89, p.
350, 288.
American Telephone & Telegraph Co.-Earnings.-For the
first nine months of 1909 and 1908:
'1909.
Nine months ending Sept. 30$11,036,612
Income from dividends
Interest and other revenue from associated cos_ 7,980,365
3,184,840
Telephone traffic (net)•
72,866
Real estate
1,050,728
Other sources
1908.
$10,034,017
7,297,154
2,711,608
120,134
566,416
$23,325,411
1,829,970
$20,729,329
1,571,756
Total income
Expenses
$21,495,441 $19,157,573
Net earnings
Wabash Railroad.-Director.-Jay Gould has been elected Deduct
5,714,637
5,428,761
interest
9,282,624
a director to succeed Judge William B. Sanders of Cleveland. Dividend for 9 months(6%), April, July and Oct_ 11,963,758
-V. 89, p. 920, 859,
$4,153,312
$4,102,921
Balance, surplus
Western Maryland Ry.-Foreclosure Sale Ordered.-Judge
Earnings of Associated Operating Companies.-For month
Morris in the United States Circuit Court at Baltimore on of July and first eight months of 1909 and 1908:
Saturday last signed a decree ordering the sale of the road
Net
Gross
Maini'ce ee.
Interest Balance for
One
under the general lien and convertible mortgage. John monthdividends.
earnings. (after Taxes). deprecia'n.
paid.
511,307,730 $6,670,619 $3,583,136
$533,559 $2,553,924
Hinkley was appointed Special Master to conduct the sale. 1909
2,346,316
5,913,412
2,952,616
614,480
10,403,288
1908
-V. 89, p. 920, 848.
8 Months$88,372,114 $51,949,657 $27,865,918 $4,531,285 $19,552,454
1,909
Western Pacific Ry.-Track-Laying About Completed.-On 1908
82,208,034 46,566,142 23,450,404 5,144,252 17,971,486
track
miles
of
had
34
been
except
laid.
About
Oct. 12 all
Regarding
the above earnings the company says:
day,
so
that
per
with
laid
weather
good
2 miles is being
all maintenance and depreciation is charged against expenses
In
1909
completed
by
the
end
of
the
month
track-laying should be
monthly instead of being partly provided for by an extraordinary charge in
may be made
or earlier. There will then be about 125 miles to be ballasted. December as heretofore. In order that a true comparison
between
1908 and 1909, the 1908 figures as now presented include in exthrough
line-Salt
Lake
the
City,
It is expected to have
penses for each month 1-12 of the extraordinary provision for depreciation
the proUtah, to Oakland, opposite San Francisco, Cal., 927 miles- which was made in December 1908. The unexpended portion ofoperating
vision made for depreciation out of the earnings of the associated
in operation for freight by December and for passenger companies
for the first eight months of 1909 was $9,277,804, which is not
business early in the coming year. The line has been counted as profits, but remains as a reserve for future replacements.about four years in building. The terminals and station V. 89, p. 848, 722.
American Water Works & Guarantee Co., Pittsburgh.buildings along the route will all be ready for the opening
Guaranteed Bonds.-See Home Water Co. of Little Rock
of the road.
below.-V. 89, p. 530.
The "New York Times" in its Friday issue had a lengthy article to the
effect that the road may be used by some other system in conjunction with
Ashland (Wis.) Water 0o.-Payment of Bonds.-Treasurer
the Denver & Rio Grande as an outlet to the Pacific Coast bringing addtional traffic and possibly a joint financial interest in the property. The
Elbert Wheeler, 14 Beacon St., Boston, announces that the
Burlington and Rock Island are mentioned as systems to whom this conbonds ($221,000 first 6s).which matured June 1 1909 will be
nection might be valuable.-V.89, p. 412.
West Jersey & Seashore RR.-Bonds Sold.-The company paid Oct. 1 1909 upon presentation at the Illinois Trust &
has sold, $750,000 first consolidated mortgage 4s to Brown Savings Bank, Chicago, Ill., with interest to said date of
Bros. & Co. to provide for retirement of the West Jersey payment. There is said to be outstanding $175,000 common
stock and $125,000 6% cumulative preferred, par $100.
6s of the same amount maturing Nov. 1-V. 89, p. 667.
Wheeling & Lake Erie RR.-Suit.-See Pittsburgh Wheel- Incorporated in 1884; franchise said to expire in 1934.
Ballston Spa Light & Power Op.-Earnings, &c.-See
ing & Lake Erie Coal Co. under "Industrials" below.Hudson River Electric Power Co., V. 88, p. 288.-V. 87,
V. 89, p. 842.
Wisconsin Central Ry.-Report.-For year ending June 30: p. 1239.
Bethlehem Steel Co.-New Notes Sold.-The company has
Net (after
Oper.
Other
Fiscal
Balance,
Fixed
Pref.
Revenues.
Taxes.)
Inc.
YearCharges.
Divs.
Surplus.
to a syndicate consisting of Hallgarten & Co.. the Mer1908-09-$7,494,355 $2,019,221 $34,724 $1,635,902 $250,826 5197,217 sold
1907-08_ _ __ 7,307,311 1,858,288 50,570 1,557,849
351,009 cantile Trust Co. and the Equitable Trust Co., $7,500,000
-v.89, p. 780, 44.
5-year 6% notes dated Nov. 1 1909. The notes:will be guarWorcester & Holden Street Ry.-Bonds Offered.-Perry, anteed by the Bethlehem Steel Corporation, which will
Coffin & Burr, Boston, are offering for sale the unsold por- pledge its holdings of the stock of subsidiary companies as
tion of $100,000 first mortgage 5% gold bonds dated Oct. 1 security therefor. There will be a sinking fund of $60,000
1903 and due Oct. 1 1923, but redeemable on any coupon a month, beginning Nov. 1 1910.
The proceeds from the sale of the notes will be used:to
date at 105; denomination, $1,000c. Interest A. & 0. at
retire the existing issue of $2,500,000 6% notes and the reWorcester (Mass.) Trust Co., trustee.
990
THE CHRONICLE
[VoL. Lxxxix.
mainder for improvements to the plant, which it is intended
'This statement of complainants' position seems sufficient to show that
the subject matter of these suits is the modern gasoline automobile. If,
shall double the output, of the company's open-hearth rail the
defendants infringe it is because complainants own a patent so fundamill and the structural mills, provide pig iron for the in- mental and far-reaching as to cover every modern car driven by any form
petroleum vapor and as yet commercially successful."
creased capacity and secure more economical operation. ofThe
Court holds that it is immaterial
there is delay in the appliA special meeting of the stockholders of the Bethlehem Steel cant taking out his patent rights so longwhether
as the statute law is not violated
and says: "If I have correctly apprehended it, there was clearly room for
Corporation is called for Nov. 5 to approve the guaranty, a
pioneer patent, and it must now be held that on its face and in view of
etc.-V. 89, p. 289.
the art Selden's is such a patent. This means that Selden is entitled to a
broad range of equivalents, and this rule as applied here results in this
Brunswick (Ga.) Dock & City Improvement Co.-Pros- crucial inquiry: Was Selden (or any one else) entitled In 1879 to appropriate as one of the elements of any patentable combination a 'liquid
pects.-Dick Bros. & Co. and F. J. Lisman & Co., both of hydro-carbon
gas engine of the compression type?' "-V. 89. p. 45.
New York, have issued a circular calling attention to the
Consolidated Gas Electric Light & Power Co. of Baltimore.
stock, now selling about 30 (listed on the New York and -Earnings.-For
fiscal years:
Amsterdam stock exchanges), and pointing out the improved
Net.
:
Fixed.
Balance for
Preferred
Balance,
prospects for the company under its new name as owner Yearended
Dividends. Dividends.
June 30. Earnings.
Charges.
Surplus.
$1,374,547
5423,600
5828,197
5404,597
of the gas, electric light, water and street railway companies 1909_ ___ 52,202,744
_ 1,870,085
635,499
1,234,586
423,600
211,899
of the city as well as of large holdngs of city lots and water- 1908_
The reports submitted at the annual meeting on Oct. 4 showed an
improvement In the general conditions of the company, an increase in the
front property. A circular says:
When the plans as outlined are consummated the Brunswick Terminal
& Railway Securities Co. (see V. 89, p. 667, 530) will have outstanding
57.000,000 of stock and no bonds or preferred stock or other liabilities,
and assets consisting of about 3,600 city lots in Brunswick and 3,220 acres
of land adjacent to the city (compare V. 81, p. 612); 17 miles of water
mains, 12 miles of gas mains, 32 miles of electric light wires, 6 miles of
electric street railway, just about completed, of modern construction, with
pay-as-you-enter cars; a power house adequate for all purposes for electric
and street railway service.
At the next annual meeting important local interests, together with
representatives of well-known New York banking houses, are to be elected
to the board. Every effort will be made to develop the company's business.
-V. 89, p. 667. 530.
(J. I.) Campbell Lumber Co., Texas.-Sale of Property.-Receiver W. H. Norris, Houston, Tex., some months
ago received bids for the property, as ordered by the 55th
District Court in the suits of the First National Bank of
Houston, holder of judgments for $135,607 and $146,707,
respectively. The aforesaid bank was the successful bidder,
acquiring the three allied properties, except the cash and
notes, for $122,000. The total liabilities (originally $47,500)
were largely reduced during the receivership. The general
creditors, it is stated, will receive in case of Campbell Company 3%, Tyler Company 5%, W. C. & P. Ry. Co. 25%.
The "Houston Post" of Feb. 21 said:
As shown by the decree, the property of the Tyler County Land & Lumber Co. consists of 8,1473i acres of land in Tyler and Polk counties, one new
saw mill with daily capacity of 75,000 feet, one planing mill with 100,000
feet daily capacity, &c. The J. I. Campbell Co. owns 73 acres in Brazoria
County, 22 acres in Galveston County, timber, and stumpage contracts in
Tyler_and Polk counties, 993 shares of capital stock of Warren & Corsicana
Pacific By. Co. and 508 shares of capital stock of Texas Yellow Pine Lumber Co. The charter of the Warren & Corsicana Pacific By. Co., a 14 X
mile road, 3-ft. gauge, extending from Warren to Big Kimbref, having been
forfeited by the State, and it being impossible to operate the road at a profit
unless operated in connection with and as a tram road, the purchaser will
be given the right to dismantle the railroad if It is deemed necessary.
Compare V. 87. p. 42.
Central Heating & Manufacturing Co., Little Rock, Ark.
-Status.-On Sept. 19 1908 this property was placed in the
hands of a receiver on application of a coal concern to which
$2,500 was due, there being outstanding, it was said, $10,000
unsecured and $99,000 secured claims. The property was
restored to its owners and the receiver discharged under
orders of the Court on Dec. 23 1908. The unsecured indebtedness was liquidated by the receiver and the company
owning the property made arrangements with the bondholders for one year's extension of interest then past due.
Central Colorado Power Co.-Purpose of New Bonds.The issue of $1,350,000 5% 20-year second mortgage bonds,
is for the purpose of redeeming coupons on the $9,000,000 outstanding first mortgage 5% bonds for the next three years,
viz., those falling due from Dec. 1909 to June 1912, both inclusive. The plan provides that the coupons, in addition to
the face amount in second mortgage bonds, shall receive
50% in common stock. The Denver "Republican" of Oct.
10 says:
By temporary contract, the Central Colorado is now supplying the Denver Gas & Electric Co. with 3,000 horse-power qf electricity. If this contract is made permanent within the year, as the Power Company hopes,
this amount of power will be increased to 10,000 horse-power. Compare
V. 89, P. 921.
Central Oakland Light d& Power Co., Oakland, Cal.-New
Enterprise-Bonds.-This company was incorporated in California last February with $1,250,000 of authorized capital
stock to furnish electric light and power in Oakland and
vicinity for the present from a new steam plant, but prospectively, it is stated, from a hydro-electri cplant"in course
of construction on the American River, utilizing the properties on which the Bay Cities Water Co. held an option." A
mortgage was filed for record on Sept. 3 with the First Federal Trust Co. of San Francisco as trustee, to secure an issue
of $800,000 5% 30-year bonds. A. M. Hunt is President
and Clyde M. Beal, Secretary. The directors at incorporation were mostly San Francisco men, as follows:
A. M. Hunt; James Fisher, Secretary of the Bay Cities Water Co.; J. K.
Moffitt, of the First National Bank of San Francisco; Mountford Wilson;
M. D. Levenson, of the Martel Power Co.; Frederick G. Cartwright, of the
Metropolitan Electric Construction
and C. N. Beal, who has been
closely associated with William S. Tevis
Co., in the Bay Cities Water Co, and
other enterprises.
number of electric consumers despite the fact of the reported falling off
In other cities, attributed to good service and exceptionally low rates, and
also an increase for the year in the business of the gas division. After,
allowing for the preferred dividends there remained an amount equal to
6.4% on the common stock. The total annual taxes amounted to approximately 5316,000: in addition an outlay of 528,888 was due to the
shifting, &c. of mains and pipes, because of the construction of the new
sewerage system and other municipal work.-V.88, p. 1562.
Continental Rubber Co.-New President.-E. B. Aldrich
has been elected President to succeed William H. Stayton.
-V. 88, p. 161.
Deschutes Irrigation & Power Co.-Application for
Receiver Denied.-Judge Bean in the United States Court
at Portland, Ore., on Sept. 11 dismissed the application
of the bondholders' committee representing, if is said, over,
90% of the $359,000 first mortgage bonds, who had desired
to effect a reorganization, the coupons due Sept. 1 1908
and March 1 and Sept. 1 1909 being in default. While the
outstanding obligations exceed $700,000, the receivership
was denied, as the management hopes to get the company.
on its feet.
The bondholders' committee which applied for the receiver is the new
committee organized early in the year to succeed with greater powers the
committee formed in 1908. It is composed of John G. Deshler, President
of the Deshler National Bank, and Frank It. Shinn, Vice-President and
Cashier of the Citizens' Savings Bank, and Attorney Louis G. Addison of
Columbus, Ohio. The'outstanding obligations are said to include 5412,000
that are secured by first mortgages, 5132,000 collateral trust bonds secured
by settlers' notes, remainder, wholly or mostly unsecured. The management averred that the revenues will gradually become larger upon the
completion of proposed railroads In the vicinity of the acreage. The
"Portland Oregonian" says:"The company has contracted to reclaim about
250,000 acres, of which 60,000 acres have been placed under irrigation. A
total of 48,000 acres has been sold to settlers, while an additional 12,000
acres have been approved by the State authorities. To complete the
project and'bring under irrigation the remaining 150,000 acres, it is estimated, will require 52,000,000." The company has been hampered for
want of working capital. Compare V. 88, p. 55.
Dufferin Light & Power Co., Province of Ontario.-Bonds,
&c.-W. A. Faulkner & Co., Chicago, London, Montreal,
Toronto and Winnipeg, who recently offered for sale a block
of 1st M. 10-year gold 7s, have favored us with the following:
Company incorporated in Ontario Oct. 7 1908. Capital stock authorized,
$200,000; outstanding, 5100,000; par, 5100. Authorized bond issue.
$110,000; outstanding, 535,000; dated 1908, due Nov. 8 1918; interest
May 1 and Nov. 1 in Toronto; par, 5500; trustee, Union Trust Co., Toronto.
Mortgage covers water-power plant, &c. President, Wm. D, Wilson,
Toronto; Sec. and Treas., I. J. Kelley, Orangeville, Ont. "The company
is under careful management, the engineers being Smith, Kerry & Chase.
W. B. Smith being formerly Chairman Ontario Government Power Commission."
E. I. Du Pont De Nemours Powder 0o.-Listed.-The
New York Stock Exchange has listed $14,452,000 432%
30-year bonds, due 1936, and $13,692,900 5% cumulative
preferred stock, with authority to list $1,548,000 additional.
bonds on official notice of sale, making the total amount
authorized to be listed $16,000,000.
Earnings.-For seven months ending July 311909:
Net after depreciation, &c.$3,151,344 Losses on sales of real est..
Other income (net)
236,666
secur's & extraor. adjus_ $266,952
1,587,729
-----)Dividends paid
$3,388,010
Total net income
51,074,933
Deduct-Int. on bonds_
458,396 Balance, surplus
89, p. 351.
Edison Electric Illuminating Co. Boston.-New Stock.The Massachusetts Gas & Electricity Commission has been
requested to authorize an issue of $1,945,200 additional,
capital stock, to provide for notes issued for the properties
acquired last month at a cost of about $2,870,000; also about
$1,000,000 notes issued to take care of the normal growth
of the business.-V. 89, p. 667.
Ely Central Copper Co.., New York.-New Stock-Convertible Bonds.-This company, incorporated in Delaware in.
March 1906 and. owning 35 claims and 494 acres in the Ely,
district of Nevada, held a meeting of its shareholders on
Aug. 26, at which it was voted:
(1) To authorize an increase In the capital stock to the extent of 400,000
shares of the par value of 510 each, so that the total capital will be 516,000,000. .(2) To authorize an issue of 6% 10-year bonds secured by a mortgage on all the real property and appurtenances In the total sum of 5600,000,
each bond to be for $1,000, to bear interest, payable semi-annually, and
to carry the privilege of conversion into stock, $150 bonds for $1,000 stock.
President, Oscar Adams Turner; Secretary, H. S. Turner; Treasurer, E. S.
S. Turner. New York office, 42 Broadway.
Federal Signal Co., Albany.-"New Plan in Operation."Columbia Motor Car Co.-Favorable Decision.-Judge
technical journal says:
Hough in the United States Circuit Court on Sept. 15 A
new financing plan has been put into operation, with the result that
handed. down a decision favorable to the company in the theThe
company will have $75,000 of new capital to put into the businesa withindebtedness. Under the plan the former bonded
suits brought by George B. Selden and the company's out increasing its bonded
debt of 5200,000 has been retired and the holders of the old bonds given
predecessor, the Electric Vehicle Co., for infringement of first
preferred stock, $275,000 of this issue having been marketed, the addipatent rights against the Ford Motor Co., Panhard & Le- tional amount above the $200,000 exchanged for bonds having been paid
for in cash. The former issue of 5600,000 preferred stock has been made
vassor and others, being the manufacturers and sellers of second
preferred. Compare V. 88, p. 1316, 1064; V. 86, p. 1470; V. 84,
the Ford and the Panhard automobiles. The decision will p. 1430.
not affect the licensees, comprising the Association of
Gage County Gas Light & Power Co., Beatrice, Neb.Licensed Automobile Manufacturers. An appeal will be Bonds Offered.-P. W. Brooks & Co., New York and Bostaken. Judge Hough says in part:
ton, are offering first mortgage 6% sinking fund gold bonds
OCT. 16 1909.1
THE CHRONICLE
dated 1909 and due June 11929, but redeemable after June 1
1914, for the sinking fund, at 107M and interest. Bankers'
Trust Co., New York, trustee. Denominations $500 and
$1,000 (c*). Interest J. & D. at office of the aforesaid firm.
99,1
honing River and its branches, the electricity generated
to be delivered at Warren and Niles. See "Electrical
World" of New York 'for Sept. 2 1909. Compare Warren
Water & Light Co. below.
The Peerless Electric Co. was incorporated in Ohio in 1905 or earlier.
Extracts from Letter of President C. S. Eaton, Cleveland, 0., July 10 1909. wit ii $500,000 capital stock, which on Jan. 25 1908 was increased to $700,000
Organized in 1909 to acquire all rights, franchises, contracts and plant The Hydro-Electric Co.,supposed to be another subsidiary,was Incorporated
owned for the supply of gas for light, heat and power by the Beatrice Gas in May 1908 with $100,000 stock, 0. P. Morgan being President; C. M.
& Power Co., which now serves a population of 15,000 or over. Franchises Wilkins, Vice-President and Henry Herbert, Secretary and Treasurer.
extend to 1934. Mains (2 to 10 inches) in about 16 miles of streets. Tangi- The Hydro-Electric & Gas Co., it is _understood, was incorporated with
ble property and plant represent an actual cash investment and replace- $1,000,000 stock.
ment value of not less than $150,000, Irrespective of good-will, franchises,
&c. Capitalization: Stock (par, $100), authorized, $250,000; issued,
Idaho Smelting & Refining Co.-Receivership.-Judge
*200,000. First mortgage 6% sinking fund bonds auth., $150,000; issued,
*100,000. Additional bonds can be issued for only 75% of the cash cost E. H. Sullivan on April 24 appointed A. Starke Oliver as
of any additions or extensions when earnings for the preceding 12 months temporary receiver for the company in place of John Mocine.
are equal to not less than twice the total fixed charges, including interest
The "Engineering & Mining Journal" stated that President Herbert
on the bonds proposed to be issued. Sinking fund for three years 1912 to
1915, 2% of outstanding bonds; thereafter 3%. For the calendar year Anderson of Chicago and Winnipeg had gone to Sand Point,Idaho, without
waiting
/or a warrant to be served, and surrendered to the sheriff to face a
1,700,000
for
municipal
which
(of
ft.
1908 the output was 18,333,100 cu.
of embezzling $175,000 from the company. Anderson Brothers &
lighting), and the gross receipts were $31 ,140; net available for interest, charge
$13,062. For six months ending June 30 1909, gross, $14,370; net income, Co. of Chicago offered in April 1908 $100,000 of a block of $500,000 6%
bonds, dated. Feb. 1 1908, purporting to be secured by mortgage to the
*8,164, or an increase of 49.9% over the corresponding period of 1908.
Union Trust Co. of Spokane as trustee, covering smelter, &c., at the
northern end of Lake Pend d'Oreille, Idaho. Capital stock stated as
Batavia,
Light,
Power
&
Gas
Co.,
Y.)
(N.
County
Genesee
$2,000,000. The report with J. D. Campbell, referee in bankruptcy, filed
to
property
8
company's
was
sold
Sept.
N. Y.-Sold.-This
on June 29 1909, it is stated, shows: Total liabilities, exclusive of capital
of $501,559; total resources are valued at $222,245: total bond issue,
Rudolph C. Rabe of New York, representative of the bond- stock,
$500,000, of which sold $148,200; issued as collateral, $57,300; claimed by
On
committee,
$100,500.
reorganization
for
and
holders
the Fidelity National Bank, Spokane, $294,500.
Sept. 23 the Genesee Light & Power Co. was incorporated
Independent Natural Gas Co.,Pittsburgh,Pa.-New Stock.
under the laws of New York with $250,000 authorized stock,
as the successor company, the directors including Walter C. -Secretary J. H. Friday announced that the shareholders
oston; Geo. M. Kimball, Concord, N. H.; Ferdi- would meet in the Farmers' Bank Building, Pittsburgh,on
July 31 1909, to take action upon a resolution mainly to
nand
Lewis,W. Keller, New York; John K. White, Tonawanda.
amend the charter of the company in so far as to increase
The old company had outstanding $100,000 stock and $150,000 bonds
and distributed electric current received from the Niagara plant of the the capital stock to $500,000.
Niagara Lockport & Ontario Power Co. in Batavia and elsewhere in
International Agricultural Corporation.-New Company to
Genesee County. Marc W. Comstock of Buffalo was appointed receiver
on Oct. 15 1908.
Manufacture Fertilizer.-This company was incorporated in
Genesee Light & Power Co.-Reorganized Company.-See New York State early in the year and on July 3 increased its
Genesee County Light, Power & Gas Co. above.
authorized capital stock to $15,000,000, of which $7,500,000
'German-American Car Co., Chicago.-Notes Offered.- is 7% preferred and the same amount common stock.
The company, it is said, has taken over the large SchmidtMcCoy & Co., Chicago, are offering at par and interest the
unsold portion of $90,000 6% gold'equipment notes-, dated mann potash mine in Germany at, an expense of $4,000,000
July 1 1909 and due $10,000 semi-annually from July 1 1910 (see American Agricultural Chemical Co., V, 89, p. 412), and
to July 1 1914, both inclusive. Denomination $500c*. also, it is reported, the following American properties "free
Principal and semi-annual interest (.J. & J.) payable at the and clear," but no official confirmation of the list has been
American Trust & Savings Bank, Chicago, trustee. A forthcoming:
Middle Tennessee Phosphate Co., Jackson Phosphate Co., Bluegrass
circular says:
Richland Phosphate
These notes are issued to cover 75% of the cost of 100 steel under-frame
tank cars, each with a tank capacity of 8,000 gallons and a truck capacity
of 80,000 lbs., built by the Steel Tank Car Co. of Chicago. The notes are a
first mortgage upon the above-mentioned equipment and are secured by a
conditional sale contract, and are a direct obligation of the GermanAmerican Car Co. The company has been In operation over ten years, is
in excellent credit, and has a net capital and surplus of over $450,000. The
company practically confines its business to owning and leasing tank cars
to producers of cotton-seed oil, glucose, turpentine, coal tar and tannic
extract. It owns and has In operation over 600 cars, all of them leased to
regular customers. Compare V. 87, p. 289.
Gilbert Transportation Co., Groton, Conn.-Receivership.
-Judge James P. Platt in the Circuit Court of the United
States at Hartford on Oct. 5 appointed Frank S. Butterworth of New Haven receiver of the company on the ground
of insolvency. Application made by (1) Samuel R. Rosoff
of New York and the Merritt & Chapman Derrick & Wrecking Co. as holders of claims aggregating $4,300 and $1,646,
respectively;(2) by Charles E. Ball of Massachusetts, owner
of 110 shares each of common and preferred stock and
(3) by Granville Whittlesey of New York and William B.
Smith of Massachusetts as bondholders.
The applicants say that they are acting for themselves and other creditors,
stockholders and bondholders who may. wish to join with them and share
In the expenses of the suit. The outstanding capital stock is said to be
$860,000, divided into 4,357 shares of pref. stock and 4,243 shares of
common stock, par value $100 each. There are also outstanding
In addition to a floating debt of upwards of $150,000 (only a small part of
which is secured) $285,000 mortgage bonds dated 1905, part of an authorized issue of $1,250,000,for which the Thames Loan & Trust Co. of Norwich
is trustee, having succeeded in that capacity the Manufacturers' Trust
Co. of Providence. The receiver is authorized to issue $25,000 certificates.
Compare V. 81, p. 779; V. 82, p.455, 872.
Giroux Consolidated Mines, Duluth.-Bonds.-Seeretary
Frederick R. Kennedy, under date of Sept. 5, informs us
that practically all of the first mortgage 6% 10-year bonds
have been converted into stock, while of the second mortgage 6% bonds,$535,000 of the $1,000,000 authorized have
been sold to provide funds for development work. A
revised statement says:
The first mortgage issue amounted to $1,500,000, of which $500,000 was
retained In the treasury and the remainder sold. When the Cole-Ryan
Interests assumed control early this year it was with the understanding that
they would buy the treasury bonds for cash. This was done with the
stipulation that of the new issue of $1,000,000 second mortgage bonds they
were to have the first call. The new bonds will be issued only as the
needs of the company demand and converted into stock immediately, so
that there will be no interest charge. It is figured that the company has
available between $1,500,000 and $1,750,000 of cash. The total stock is
$7,500,000; par of shares $5 each. Officers: President, Joseph L. Giroux;
Vice-President, Joseph B. Cotton; Secretary, Frederic R. Kennedy;
Treasurer, Edward J. Maney. [The company owns the Sultana and San
Jose mines in Sonora. Mex., and 52 mining claims In Nevada adjoining the
properties of the Nevada Consolidated and Cumberland-Ely companies.
Of the $7,500,000 stock $2,500,000 was reserved for conversion of bonds.
-Ed.]
Phosphate Co.
Co., Wiley H. Harris, T. C. Meadows
& Co., lease of
'the J. D. Frierson property (including the new plant built
thereon), France & Co. (Including property at Mt. Pleasant, Tenn., and
at Southport), Ruhm & Gregory, Ruhm & Barrow, H. D. Ruhm
Co.,
all of the "Fry & Alexander" interests (including control of the Maury
Phosphate Syndicate Co. located at Mt. Pleasant, and also property at
Odd Fellows' Hall, Giles'
County, Darks' Mills and Carter's Creek, Maury
County, Mallory, in Williamson County, and at Brentwood, in Davidson
County). Also the T. C. Meadows & Co. property at Wales, In Giles Co.
Officers-Waldemar Schmidtmann of Germany, President; W. N. Shaw
of New York, Vice-President; John W. Fry of Columbia, Tenn., Secretary,
and R. M. Round of Buffalo, N. Y.. Treasurer.
Negotiations were reported pending on Sept. 15 for the
acquisition of the Smith Agricultural Chemical Co. of Columbus, 0. Compare Tennessee Copper Co. in V.89, p. 605, 668.
International Paper Co.-Bonds of Controlled Company
Called.-Five Umbagog Paper Co. first mortgage 5% gold
bonds, dated 1898 and due Sept. 11918, $1,000 each, Nos.
15, 31, 73, 76 and 87, called for redemption, were payable
on Sept. 1 at the Union Safe Deposit & Trust Co., trustee,
Portland, Me.
The issue, originally $100,000 authorized, has thus been reduced to
$65,000. There is also another issue of Umbagog bonds dated 1898,
authorized $42,000, outstanding $30,000. The International Paper Co.
owns all of the $2,050,500 capital stock of the Umbagog Paper Co.
V. 88, p• 1257.
Inter-State Light & Power Co., Galena, Ill.-New Corn
pany.-This company was incorporated on April 27 1909
under the laws of New Jersey with $750,000 of authorized
capital stock in $100 shares, consisting of $500,000 common,
all outstanding, and $250,000 unissued preferred (subject
to call after 5 years), as a consolidation of the Tri-State
Light & Power Co. of Galena, Ill., and the Platteville Electric Light & Power Co. of Platteville. A mortgage has been
made to the American Trust & Savings Bank of Chicago, as
trustee, to secure an issue of $750,000 first mortgage gold
6s denomination $1,000, $500 and $100, dated May 1 1909,
and due in series, but subject to call after 5 years at 103.
The present issue is to be $500,000, but no bonds will be
sold for one year. No prior liens remain out. A technical
paper on May 20 said:
The company will build a steam-driven" generating plant at Galena
to produce electricity,which will be transmitted to several points in the
State of Wisconsin, the length of transmission being about 30 miles. The
station will have a capacity of about 3,000 k. w. and it is probable that
be installed. the voltage'
of transmission will be
steam turbines
33,000 and electricity will be supplied for lighting Platteville, Cuba, Benton
and Hazeigreen. Wis., the energy being sold at wholesale to local lighting
interests in the places named. In addition, electricity for operating motors
will be supplied to about 25 zinc mines in the vicinity. President, A. 0.
Fox, Madison, Wis.; Vice-President, 0. E. Osthoff, Chicago; Secretary,
M. F. Fox, Madison, Wis.; Treasurer, Leroy E. Caldwell, Chicago. H. M.
Byllesby & Co. of Chicago are the engineers for the company,and the American Trust & Savings Bank of Chicago and other banks are financing it.
Globe-Wernicke Co., Cincinnati.-No Second Pref. Stock
International Smelting & Refining Co.-Listed in Boston.Necessary.-The meeting called for Oct. 9 was not held, the
directors having rescinded their action providing for the The Boston Stock Exchange has listed the $10,000,000 outissue of $1,000,000 of second preferred stock. President standing stock, par of shares $100. Total authorized stock
$50,000,000, of which $40,000,000 reserved for extensions.
Henry C. Yeiser says:
The proposed issue Is found to have become unnecessary in view of the
company's present rate of earnings and resources, and under the circumstances It was inadvisable to place an irredeemable obligation ahead of the
common stock.-V.89, p. 667.
Balance Sheet Aug. 24 1909.
Liabilities ($10,169,151)Assets ($10,169,151)Capital stock
Book Value of plants and
$10,000,000
Dividends of 1 M% derailroads in operation
clared Aug. 10 1909,
and under construction.
payable Sept. 1 1909_ _
Including real estate_ _$7,202,853
150,000
2,966,298 Surplus over liabilities
Cash on hand
19,151
-V. 89, p. 414.
Hydro-Electric & Gas Co., Warren, Ohio.-New Stock.This Ohio corporation in July last increased its authorized
Capital stock from $350,000 to $550,000. The Peerless
Kansas Natural Gas Co.-Explanation as to the Deferring
Electric Co., a controlled company, is uniting a number of
water powers of various heads at several points on the Ma_ of Dividend.-William A. Shaw, Chairman of the fuel gas
998
THE CHRONICLE
Lxxxxx.
supply and transportation committee, explains the postMineral Point (Wis.) Electric Light Co.-Bonds Offered.ponement of the usual dividend in brief as follows:
John H. Sonntag & Co., Chicago, recently offered at par and
Your company now has connections, by its lines, with a population of interest the unsold portion of, the present issue of $40,000
about 700,000 people, all prosperous and rapidly growing cities and towns. first
mortgage 6% gold bonds, datcd April 1 1909 and
Additional transportation facilities have been provided for the coming winter's consumption; but for the following year with the certain increase of maturing serially on April 1 from 1910 to 1929;but callable
consumers more trunk lines and compressors must be furnished. These at 103 on any interest date. Principal and semi-annual
additions have all been made, so far, out of the net income of the business,
which, with the sinking fund payments, has required more money than can interest (A. & 0.) payable at Milwaukee Trust Co., trustee,
be provided without creating a floating debt.
Milwaukee, Wis. Denominations $500 and $100. A cirIt Is the belief of your committee that the best Interests of the stockholders require further expenditures for future transportation. The neces- cular says:
sary funds may be provided from earnings it the dividends be postponed.
The supply of gas available In the field is ample for a long time to come,
and with transportation provided the earnings can be much increased.
We therefore recommend that the directors authorize the use of as much
ofLthe net earnings as may be necessary for new construction and pay for
the same, deferring declaration of dividends until such time as the proposed
construction expenditures are completed and paid for. We believe this
action will insure a regular dividend upon the stock in the future.V. 89, p. 922.
Keystone Telephone Co. of Philadelphia.-Listed.-The
New York Stock Exchange has listed $1,045,000 additional
first mortgage 5% 30-year bonds, due 1935, making the
total listed to date $5,045,000, with authority to add $398,000
additional on notice of sale, making the total amount authorized to be listed $5,443,000.
.7-3' Of the $1,443,000 bonds authorized to be listed, $1,362,000 have been
issued for improvements and $82,000 to defray expenses in connection with
the sale of bonds.-V.89, p. 468, 414.
Lake of the Woods Milling Co., Ltd.-Report.-For years
ending Aug. 31:
Year.
ProfUs.' Bond mt.' Pref. Dividend. Corn. Dividend. Bal.,Sur.
1908-09 __$723,380 $105,000 (7%) $105,000 (6%)$121,500 $391,880
1907-08 __ 401,869
60,000 (7%) 105,000 (6%) 120,000
116,869
* The large increase in profits here shown, it seems p ssibie, is due In
part to including in 1908-09 the profits of the Keewatin Flour Mills Co.
At all events the bond interest in 1908-09 includes, in addition to 6% on
the issue f $1,000,000 bonds redeemable June 1923, the 6% interest
on $750,000 guaranteed bonds of the Keewatin Flour Mills Co., which was
not included in the report for 1907-08. On Aug. 31 1909 the parent company had outstanding $2,100,000 of its $2,500,000 stock. Par $100.
"Bonus." The directors on Oct. 25 voted:
That a bonus of $10 per share be, and the same is hereby, declared payable out of the surplus profits on Nov. 8 to the holders of common stock
of record Oct. 30 1909.
Lanston Monotype Machine Co., Philadelphia.-New
Stock.-The shareholders will vote Oct. 28 on increasing
the capital stock from $5,000,000 ($4,998,600 outstanding
June 30 1909) to $10,000,000 and on increasing the par
value of the stock from $20 to $100 per share. Dividends
were resumed last week, a distribution of 1M% having been
declared payable Dec. 30. Compare V. 89, p. 923, 222.
Lukens Iron & Steel Co.-Notes Called.-The company
called for payment on Oct. 4 1909 at par, at the office of
the Fourth Street National Bank, Philadelphia, 68 coupon
notes($34,000) numbered 147 A to 214 A,inclusive,'natural.
Jan. 1 1910, and also 56 ($56,000) of its Allegheny Ore &
Iron Co. collateral 5% notes numbered 544 to 549, inclusive;
600 to 626, inclusive, and 652 to 674, inclusive, maturing
Jan. 1 1910. Compare V. 85, p. 102.-V. 83, p. 494.
McCall Ferry Power Co.-Foreclosure Sale.-Judge Lacombe in the United States Circuit Court in this city yesterday granted a decree of foreclosure and sale in the suit brought
by the Knickerbocker Trust Co. as trustee. The sale will
probably take place in about seven weeks. V.89, p. 229,107.
Manitowoc (Wis.) Gas Co.-Bonds-Earnings.-Of the
first mortgage 5% bonds due June 1 1924, total authorized
issue $300,000, there are now outstanding $231,500.
Capital stock (paid In full), $50,000; bonded debt, authorized $50,000
reserved for future improvements $10,000; total outstanding bonds, $40,000
due $500 yearly 1910 to 1914, $1,000 yearly 1915 to 1922; $1,500 yearly
1923 to 1925, $2,000 yearly 1926 to 1928 and $18,000 in 1929. Earnings
for calendar year 1908: Gross, $19,853; net, $5,516: interest charges,
$2,400; surplus, $3,116. For the first four months of 1909 the Insiness
shows an increase of 25% over any previous year. Total cost of property.
$80,000.
Mineral Point is at the centre of the Wisconsin lead and zinc fields:
population about 3,300. The company has the street-lighting contracts
at $2,100 per annum and supplies light and power for a number of mines.
Under the public utility law of 1907 has an exclusive and perpetual franchise, subject only to the right of the city to purchase the property. Power
plant modern, with two generators of 100 k. w. capacity each. Ice plant
capacity of six tons of distilled water ice per day, and has been run up to
its full capacity for a number of year3. Steam-heating system consists of
4,850 feet of underground mains; service connections are laid into 104 buildings In the business section; 58 buildings are now being heated.
Mitchell Motor Car Co., Racine, Wis.-New Stock.-This
Wisconsin corporation has filed a certificate increasing its
capital stock from $1,000,000 to $2,000,000, all common,
par $100. The new stock will be sold to stockholders to
cover cost of extensions and additions, in part as dividend.
The corporation for several months past has been making
additions to its factory and plans to erect other buildings.
No bonds outstanding. President, W. T. Lewis; Secretary,
G. V. Rogers; Treasurer, W. M. Lewis, Racine, Wis.
Mojave Water & Power Co., San Francisco.-Bonds.This company, which was incorporated in California Oct. 20
1908 with $20,000,000 of authorized capital stock (part
preferred) and acquired water rights, lands and franchises in
San Bernandino County, Cal., formerly belonging to the
Columbia Colonization Co. of Chicago, has filed notice
with the County Clerk of San Francisco of the creation of
$15,000,000 of 5% 40-year bonds. What construction
work, if any, is proposed, has not been made public. I. R.
Wilbur is President and A. E. Boynton, a San Francisco
attorney is Secretary.
In March last M. A. Tear and B. B. Sweet, who purchased the interests
of the Columbia Colonization Co., bowrht suit to compel the issuing to
them of 4,166 2-3 shares of the preferred and the same amount of common
stock of the Mojave Water & Power Co.
Montreal Light, Heat & Power Co.-Rival Enterprise.See Canadian Light & Power Co. above.-V. 89, p. 229.
Nebraska Power Co.-Incorporated.-This company was
incorporated at Wilmington, Del., on Sept. 26 1908 with
$12,000,000 authorized capital stock, the incorporators
being H. E. Babcock, Columbus, Neb.; W. J. McEa,chron,
Omaha; and Harry W. Davis, Wilmington, Del; Delaware
agent, Corporation Trust Co., Wilmington; with a view to
building a hydro-electric power plant on the Loup River at
Columbus, Neb. On or about June 14 the directors, it is
stated, authorized an exchange of common stock for the
common stock "of the Nebraska Central Irrigation Co.,
which corporation is capitalized at $1,000,000, has out 28,000
shares of stock and invested $300,000 in an irrigation ditch."
At a meeting of the citizens of the city of South Omaha on Nov. 20 the
Mayor was asked to appoint a committee to investigate a proposition of
company to build a $2,500,000 plant at Columbus, Neb., and,on the
the
1909
and
June
30
May
31 1908.
Statement of Earnings for Years ending
strength of a suggested contract for the purchase of the plant by the city
Net.
Gross.
Interest. Bal., Sur. for that amount through deferred payments,with interest at 5% per annum
Year ending$12,299
$20,804
$55,342
$8,505 ($125,000),to place in Switzerland sufficient stock and bonds to finance the
June 30 1909
20,856
10,750
51,401
10,106 enterprise. South Omaha, it was stated, consumed not over $70,000 of
May 31 1908
-V. 88, p. 104; V. 87, p. 100.
electricity all told in private enterprises. The Omaha Elec. Lt. & Power
Co. opposed the plan. Compare Nebraska Traction & Power Co. under
Metropolitan Steamship Co.-Sold.-The property was "Railroads"
above.
sold under foreclosure in Boston on Oct. 8 under a decree of
the Circuit Court of the United States for the District of
Maine, dated Aug. 7, and ancillary decrees entered in Massachusetts and New York, and was bid in by John W. McKinnon, a member of the reorganization committee, for
$2,500,000, subject to the $500,000 mortgage dated March 1
1905 on the Union Wharf. The amount due on the 1st
5s was $2,637,604, being $2,509,000 principal and $128,604
interest. On Oct. 10 the "Metropolitan Steamship Company
Lines" was incorporated under the laws of Maine in accordance with the reorganization plan (V. 88, p. 1562) with
$3,000,000 of authorized capital stock to take over the
property. The directors (and officers) of ,the new „company are:
Charles W. Morse of'New York, President; J. W. McKinnon of Chicago,
Vice-President; C. Carrington of New York, Treasurer, and Charles L. Andrews of Augusta, clerk. Directors, the first-named three with Walter
R. Reid of Waterville and George P. Shaw of Philadelphia, with four more
to be chosen later. [Mr. Morse recently bought up outstanding claims
against the old company to an amount sufficient, it is stated, to establish
his control of the reorganized concern. The report as to a new plan of reorganization is pronounced a mistake, though there may be some slight
modifications In the old plan.1-V. 89, p. 781.
New York & Ontario Power Co.-Project.-The Public Service Commission, Second District, at Albany on
Jan. 15 authorized this company to issue $600,000 capital
stock at par for cash, also $1,850,000 30-year 5% gold bonds,
being the remainder of an issue of $2,000,000 first mortgage
bonds of $500 each. These bonds are secured by mortgage
to the Knickerbocker Trust Co. of New York, as trustee,
and are dated Aug. 1 1907 and will mature Aug. 1 1937,
without option of earlier redemption. Interest F. Sz A. in
New York. The following was officially revised some time
ago; nothing has reached us since regarding the enterprise.
The company is developing a water power on the St. Lawrence River at
Waddington, St. Lawrence County, which it believes Is capable of developing, at a moderate expense, upwards of 30,000 h. p., 24-hour service, 365
days in the year, without being subject to diminution by low water in summer or ice in winter. At the present time it is proposed to develop and
equip approximately half of the power, 17,000 h. p. In water-wheel capacity.
No storage dam will be necessary. The company expects to be able to sell
power from $18 to $25 per horse-power at the plant.
The company was incorporated on April 18 1906 with $2,000,000 of
authorized capital stock, all of one class, in shares of $100 each (of which
$150,000 is outstanding), to furnish power and light to municipalities and
Industries in Northern New York. The President is David J. ,Crichton
Jr., Ogdensburg; Vice-Pres., J. Wesley Allison; Treasurer, W. F. Burt.
Ogdensburg, N. Y.
Metropolitan Steamship Co. Lines.-Successor Company
Niagara Lockport & Ontario Power Co.-Earnings.-For
-See Metropolitan Steamship Co. above.
Michigan State Telephone Co.-Listed.-The New York September 1909 (partly est.) and quarter ending Sept. 30:
Gross.
Net.
Int. on 1st Is. Bal., Sur.
1909.
Stock Exchange has listed $300,000 additional first mortgage September
$85,000
$27,400
$20,833
$6,567
14,648
20-year 5% bonds, due 1924, making the total amount Quarter
239,189
77,148
62,500
-v. 89, p. 352.
listed to date $8,381,000.
Niles-Bement-Pond Co.-Financial Plan.-See Pratt &
The proceeds of the $300,000 bonds just listed were used
on account of extensions and improvements from Feb. 1 1904 Whitney Co. below.-V. 89, p. 101.
and May 31 1909.
North Platte Valley Irrigation Co.-Bonds Offered.Earnings.-For 7 months ending July 311909:
Blake & Reeves,of 34 Pine St., this city, offer by advertise$2,162,114 Dividend on pref. stock
$79,894 ment on another page, at par and interest, $2,000,000 first
Total receipts
574,056 Dividend on common stock.... 51,877
Net earnings
-year gold bonds dated
267,117 Balance. surplus
175,168 mortgage and collateral trust 6% 10
Interest paid on bonds_
July 15 1909 and due July 15 1919, but redeemable at 105
-V. 89, 1). 596*
OCT. 16 1909.j
THE CHRONICLE
999
and interest after July 1 1911. Denominations $1,000, $500
Pillsbury-Washburn Flour Mills Co., Ltd.-Out of Reand $100(c*). Interest J. & J. at Am. Trust & Savings ceivers' Hands.-The receivership ended on Sept. 8, when
Bank, trustee, Chicago. The firm, says in substance: the property was turned over to the company in accordance
securvy.-The bonds are issued under the "Carey Act" passed by Con- with the decree of Judge W. H. Sanborn in the United States
gress in 1894, and are secured by an absolute first lien on the entire irriga- Circuit
Court entered at St. Paul on July 9. The mills, in
tion plant of the company and 100,000 acres of rich alluvial agricultural
land acquired under the "Act." This lien is created by the State of Wy- accordance with the plan of reorganization, will be operated
oming in favor of the company, and is directly authorized by the Federal under 20-year
lease by the new Pillsbury Flour Mills Co., of
Government under the provisions of the Carey Act. No part of the land
is distant more than eight miles from the Chicago & North Western By.; which Albert C. Loring is President, Charles S. Pillsbury
the Colorado Southern By. runs through part of the tract and is to be ex and Alfred F. Pillsbury, Vice-Pres
idents, and John S. Pillstended so as to pass through two-thirds uf it.
The irrigation system consists of (1) a gravity unit comprising 36,000 bury, Secretary and Treasurer; these men, with Mr. Fairacres of land (24,000 of which are already sold), supplied with water from child, are also the directors.
a reservoirin La Prole Creek Canyon,in which considerably over 40,000 acre
feet of water can be stored and distributed by gravity; (2) a pumping
unit of approximately 65,000 acres, served with water from the North Platte
River by electrical pumps which are operated by power generated at the
La Preble Creek dam.
The value of this land, fully irrigated and cultivated, based upon actual
selling values, should be in excess of $10,000,000, or more than five times
the amount of this issue of bonds. The land adjoins on two sides Senator
Carey's famous farm at Fort Fetterman, products of which have won first
and second prizes as to quality and quantity (yield yer acre) at the State
fairs in California, Colorado, Idaho, Wyoming and other States. There
is an immediate and profitable cash market at Douglas and Casper for all
of the crops which can be grown on North Platte Valley lands. The company will sell perpetual water rights to actual settlers on its segregated
lands on the basis of 10% on the principal at the time of purchase and 10%
yearly thereafter until the obligation is paid in full, with interest at 6% on
all deferred payments. The State of Wyoming, by virtue of the "Carey
Act," specifies the maximum prise at which perpetual water right cm be
sold. J. M. Wilson of Douglas, Wyo., is President. [A Wyoming corporation with $2,000,000 of authorized capital stock, of which about $500,000
Is outstanding, but will not participate in profits until bonds are paid off.
Vice-Pres., W. P. Hamilton; Sec., B. F. Wilson, both of Douglas, Wyo.Ed
North Shore Electric Co., Chicago.-New Stock.-The
"Chicago Inter-Ocean" states that, according to present
plans, the stockholders will shortly be given the right to subscribe for 10% new stock, probably between $65 and $75 a
share (par $100). The authorized stock is now $4,000,000;
outstanding at last accounts, $3,780,000. Quarterly dividends at the rate of 3% per annum were begun May 1 1908.
Compare V. 87, p. 1602.
Old Dominion Co. of Maine.-Decision on Promoters'
Profits.-The full bench of the Massachusetts Supreme
Court by a vote of 4 to 3 on Sept. 15 affirmed the decision of
Judge Sheldon awarding judgment to the Old Dominion
Mining & Smelting Co. of New Jersey against Albert S.
Bigelow of Boston for $1,180,000, with interest from Sept. 18
1895, for alleged promoters' secret profits. The amount
now due is stated to be $2,045,776. The full text of the
opinions is given in the "Banker and Tradesman" of Boston of Oct. 9.
A contrary view of the law was taken by the United States Supreme
Court, which in May 1908 (V. 86, p. 1413) decided in favor of the heirs of
the late Leonard Lewisohn the suit brought to recover one-half of the
alleged promoters' illegal profits.
Judge Rugg, who wrote the majority opinion, says in part:
"The plaintiff was fully organized and authorized to do business on
July 8 and 11 1805, when only $1,000 in capital stock had been paid in.
It would be an idle ceremony to establish for promoters the obligations of
trustees, and at the same time hold that by their tools and with only $1,000
paid In, and as a mere form (for It was soon after repaid to one of them),
they could vote to themselves a wholly unwarranted profit of $1,250,000
kept secret from other initial shareholders, because at that moment they
were the only stockholders.
"By such a course the law would be holding out apples of Sodom to the
wronged corporation. Corporations can be formed through irresponsible
agents with ease. If these agents can vote away a substantial part of the
capital stock for property of comparatively small value, and still with immunity to themselves and their principals receive from the uninformed
public cash subscriptions for the rest of the capital stock, the organization and management of corporations might readily become a 'system of
fraud.' . . .
"Nothing can be said in support of a business enterprise carried on by
promoters which involves the purchase by them of mines, costing and intrinsically worth 31,000,000, with money in substantial part solicited from
associates on representations that a corporation is to be formed with a
capitalization of $2,500,000, of whose stock $2,000,000 is to be issued
for conveyance to it by them of the mines and the rest for cash, the actual
organization of the corporation under the laws of a State which permitted
the issuance of capital stock for property conveyed only to the real value
of the property, with a capital of $3,750,000, of which $3,250,000 is issued
as fully paid for conveyance of the mines, the settlement with a very great
majority of the associates on the basis of a sale for $2,000,000 of stock as at
first represented, the promoters retaining 1,250,000 shares as a secret
profit, intending also to procure from the public subscriptions for $500,000."
Compare V. 85, p. 1466; V. 87, p. 483.-V. 87, p. 1424.
Creditors received in settlement 47% of their claims in cash and the
balance, with interest, in 5% 20-year collateral trust second mortgage
bonds, dated Aug. 8 1908, secured by a second lien on the mills and by
pledge of the capital stock of the companies owning the water powers with
the First Trust & Savings Bank of Chicago, as trustee, and further secured
by a cumulative fixed sinking fund of $30,000 per annum and a cumulative
contingent sinking fund of $30,000 per year. In ace rda cc with the plan
the operating company, with a capital stock of $2,000,000 paid up in
cash takes over all of the quick assets as of Aug. 8 1908, paying therefor
$2,263,646, loans the old company $500,000 on certain collateral and
takes a lease of the flour mills for 20 years at a rental of $100,000 per year
and one-half of the annual net profits after $150,000 has been retained,
being eaual to 7% on its capital stock.
Compare V. 87. p. 1530; V.
88, p. 208, 1317; V. 89, p. 167.
The aforesaid new issue of 5% collateral trust gold bonds of the old
company, the Pillsbury-Washburn Flour Mills Co., is limited to $3,000,000,
all outstanding and due Aug. 8 1928, but subject to call at par
to meet
sinking fund requirements. Interest payable Aug.8 and Feb. 8 at Chicago.
Denominations $1,000, $500, $100 and $50. Sinking fund 1% accumulative annually and 1 c,';, additional of surplus earnings over and above fixed
revenues, in accordance with the terms of the lease. The new issue is a
second mortgage on all of the property of the company, following the old
issue of £1,000,000 first mortgage 6% debentures due in 1934. The fixed
revenue of the company, we are informed, will pay the interest on both
issues, take care of the sinking fund and leave a surplus for the shareholders.-V. 89, p. 167.
Pittsburgh Wheeling & Lake Erie Coal Co.-Notice to
Bondholders.-The 4% bondholders' protective committee,
E. E. Carpenter, Chairman (room 720, 67 Exchange Place,
N. Y.), having a majority of the 4s, has commenced an
action to compel the payment of the $200,000 prior lien 5%
bonds by the railroad and mining companies. Owners of the
remaining 4s are invited to deposit them with the Empire
Trust Co. under the terms of the bondholders' agreement of
March 24 1909. There are $634,000 4% bonds, with January and July 1909 coupons in default.
The petition recently filed by the committee in the United
States Circuit Court in New York alleges in part:
Your petitioners are Informed and believe that a plan of reorganization
of said Wheeling & Lake Eric RR. Co., and of its allied interests, is being
formed, in which plan of reorganization George Gould and Edwin Gould,
both directors of the Mercantile Trust Co., are largely interested, together
with E. H. Harriman, now deceased, John D. Rockefeller, Kuhn, Loeb do
Co.. bankers, of New York, and that said plan of reorganization contemplates the acquiring and consolidation of what has heretofore been known
as the Gould system in the East, embracing the different companies hereinbefore referred to, and the placing of the said Pittsburgh Wheeling & Lake
Erie Coal Co.In the hands of a receiver was a part of said plan of reorganization.-V. 88, p. 1201, 749.
Pratt & Whitney Co., Hartford.-Financial Plan Suggested.-This company, controlled by the Niles-BementPond Co., has asked its shareholders within 30 days to express their opinion as to the advisability of raising $1,250,000
new cash to pay for improvements and extensions, made
and to be made, by an increase of $1,250,000 in the capital
stock, $775,000 in the preferred and $475,000 in the common.
The plan calls for the payment at par on Jan. 1 1911 of the present
$1,225,000 6% preferred stock (subject to call) and the issuing in lieu thereof
at par of $2,000,000 new 6% pref. stock, guaranteed as to interest by the
Niles-Bement-Pond Co. and redeemable at par on Jan. 1 1921. Present
preferred shareholders to have the right to subscribe therefor at par to any
amount, giving their present shares in payment and for additional amounts
cash; the common stock to be increased from $1,525,000 to $2,000,000, all
the new shares to be taken and paid for in cash at par by the Niles-BementPond Co., which owns the entire issue of common stock. The cost of the
plant to Jan. 1 1908 was $3,586,067 and the assets on Dec. 31 1908 were
$5,802,365. Large sums of money have been expended on the local plant
and still greater accommodations are needed.-V. 72, p. 143.
Racine (Wis.) Gas Light Co.-Bonds-Earnings.-The
bond department of the Milwaukee Trust Co. (the mortgage
trustee) is offering at 101 and interest a block of the first
mortgage 5% gold bonds dated 1900, due Jan. 2 1930.
Interest J. & J. Par $1,000(c)
., authorized and issued
Ontario Power Co. of Niagara Falls.-Earnings.-For $1,000,000 (closed mortgage). A circular says:
This company is organized under a special charter, giving it the perpetual
September 1909 (partly estimated) and the quarter ended and
exclusive right to manufacture and sell gas. (The Milwaukee Light.
Sept. 30, including also in each case Ontario Transmission Co. Heat & Traction Co. owns
the entire capital stock.)
•
1900.
Net. Int. 0. P. 55.
Gross.
$21,136
September_$54,500 $39,859
Quarter _ _ _159,888 115.723
63.292
-V. 89, p. 667, 532.
Int. 0. T. 5s,
$6,032
18,013
Bal., Surp.
Bal.
34,4c11
Pacific Coast Co.-New Director.-John I. Waterbury has
been elected a director to succeed the late E. H. Harriman.
Dividend Increased.-A quarterly dividend of 14%
1
has
been declared on the $4,000,000 second preferred stock
and also on the $7,000,000 'common stock, increasing the
annual rate for both issuesfrom 4% (maintained from Aug. 1
1908 to Aug. 1 1909, inclusive), to 5%.
Report.-For years ending June 30:
Gross
Fiscal
Net
Other
Balance,
Total
Total
Earnings. Earnings. Income, Chges.,&c.
Year.
Surplus.
Divs.
1908-09 __$6,580,507 $959,489 $13,154 $310,710 $516,250 $145,683
1907-08 __ 7,272,958 1,052,332
18,812
44,109
653,750
373,285
The dividends, as above, include $76,250 (5%) on first preferred yearly,
and in 1908-09 4% each on second preferred and common stock ($160,000
and $280,000 respectively), against $367,500 on each of the two stocks last
named, calling for $210,000 and $367,500 respectively.-V. 87, p. 1084.
Peninsular Pure Water
ewport News Va.-Sale
Confirmed.-Judge Edmund
Co.,Waddill Jr. of '
the Federal
Court at Richmond on Sept. 30 confirmed the report of the
special masters who on Sept. 15, in the equity suit of John
A. Barham,sc.ld the plant of the Peninsular Pure Water Co.
and the National Water Co., together with riparian rights
and franchises, for $35,000 to J. Hector McNeil of Philadelphia, Pa., who represented the bondholders. It is said that
the bondholders will complete the plant.-V.87, p. 815.
Earnings for the Year ended Dec. 31 1908.
Gross earnings
$178,412 Interest accrued
Net (after taxes, &c.)
91.803 Surplus
-V.80, p. 476: V. 78, D. 2602.
$50,000
41,803
• Saratoga (N. Y.) Gas, Electric Light & Power Co.-Default-Committee.-In view of the default Aug. 1 in the payment of the coupons then due on the first mortgage bonds
(authorized issue $200,000, outstanding at last accounts
$123,500), the holders are requested by advertisement on
another page to deposit their bonds with the New York
Trust Co., s depositary for the following committee:
John K. Walbridge, Treasurer, Saratoga County; Herbert C. Warren of
H. C. Warren & Co., New Haven, Conn.; Hunter Wykes of Street, Wykes
& Co., New York, with Hon. E. T. Brackett of Saratoga Springs as Counsel and Harold James, 43 Cedar St., New York, as Secretary. (Compare
Hudson River Electric Power Co., V. 86, p. 1097; V. 88, p. 228).-V. 87.
p. 1241.
Sears,Roebuck Co.,Chicago.-Common Stock Dividend Increased from 4% to 6% Basis.-The directors on Oct. 14
declared a quarterly dividend of 1M% on the common stock,
payable Nov. 15 to shareholders of record Nov. 1. This is
dividend No. 4; Nos. 1, 2 and 3 paid Feb. 15, May 15 and
Aug. 15, 1909, were only 1% each.-V.89, p. 925.
Tennessee Copper Co.-Stock on Regular List.-The New
York Stock Exchange has authorized the transfer of the
$5,000,000 stock (par of shares $25) from the unlisted
department to the regular list.-V. 89, p. 724, 668.
Twin Falls Northside Land & Water Co., Pittsburgh, Pa.
-New Stock.-This Delaware corporation has filed a certifi-
1000
TIIE CHRONICLE
cate increasing its capital stock from $500,000 to $1,000,000,
all common, there being no preferred stock. None of the
havinc, been entirely from
stock has been sold, the increase having
holders of the
earnings and necessarily accrued to
original $500,000. The American Water Works & Guarantee Co. controls the company and also the Twins Falls
Salmon River Land & Water Co. but has never had any
interest in the Twin Falls Land & Water Co. which was the
original company operating on the South Side of the Snake
River.
Bonds, Property, &c.-The first block of $2,000,000 of the
authorized issue of $5,000,000 first mortgage 6% gold bonds,
guaranteed, principal and interest, by the American WaterWorks & Guarantee Co. of Pittsburgh, Pa., was offered in
1908 at par and all sold by J. S. & W. S. Kuhn
Inc. of Pittsburgh. These bonds are dated Nov. 1
'and due in annual installments on May 1 from 1910 to
1907
1918, viz.: 1910, $20,000; 1911 to 1914, $120,000 yearly;
1915, $200,000; 1916 and 1917, 8400,000 ye trly; 1918,
$500,000. Interest payable M. & N. at American Trust &
Savings Bank,Chicago,trustee. Par $1,000,$500and $100(c*).
A circular said in substance:
The company is engaged in the development by irrigation of 180,000
acres of rich land in Southern Idaho. The controlling interest In the company is the American Water Works & Guarantee Co. of Pittsburgh. Pa.:
and each bond bears the unqualified endorsement of that companyguaranteeing the prompt payment of principal and interest thereon
The "Carey Act" secures to the company a first and prior lien, created by
the State of Idaho,on the entire 180,000 acres, no one settler being permitted to purchase from the State more than 160 acres, and then only
after he shall have contracted with the company for water rights at $35
per acre. The necessary purchase of water rights by settlers Is the basis
for the retirement of the bond issue, as well as the source of interest payments. An initial payment of $3 per acre froin each purchaser is exacted, and the balance must be paid in annual Installments covering a
period of ten years with interest. To secure these deferred payments, 6%
purchase-money mortgages, which are first liens on the land and water
rights appurtenant thereto, are given to the company, and pledged by it
with the trustee, to an amount at least 1)i times the bonds issued against
them.
No additional bonds may be issued out of the $3,000,000 bonds held in
escrow (the total authorized issue being $5,000,000) unless additional liens
to the amount of 1 y, times the par of the bonds to be issued are deposited
With the trustee as additional security. The market price of developed
agriculearal lands in southern Idaho varies from $75 to $300 per acre, and
Is increasing from year to year. The actual amount loaned under this
All payments are received by the
issue represents but $25 per acre
trustee on account of principal and interest of the individual liens.
The 180,000-acre tract is located in Lincoln County, Idaho, on the north
side of the Snake River, toward which it gently slopes. Temperature
seldom below zero or above 100 deg. Soil, a rich loam. Apples, Pears
and other small fruits are grown in great quantities. Wheat yields up to
80 bushels per acre, oats over 100 bushels, alfalfa 9 tons, sugar beets 20
tons, potatoes as high as 500 bushels. Transportation facilities excellent.
The Snake River water-powers, whose capacity Is estimated at over 150,000
h. p., and among which are the great Shoshone Falls, are located within 10
miles of this tract, electric light and power being now furnished therefrom
at a minimum cost to the consumer.
The irrigation system comprises over 300 miles of main andiateral canals.
The main canals, of rock, earth and concrete construction, are 80 feet wide
at the surface, with a depth of 734 feet, and have a carrying capacity far
In excess of actual needs. The diversion dam, in which the company has
acquired an undivided interest, Is located at Milner, and was erected in
1904 at a cost of $500,000, having since been extended. The crest of the
dam has a total length of 2,000 feet. The company's appropriation of water
from the Snake River is 5,650 second feet; although its contract with the
State obligates it to carry but 1,800 second feet. In addition the company
has participating rights in the mammoth Government dam at Jackson's
Lake, at the headwaters of the Snake River. The Chief Engineer of the
company is Paul S. A. Bickel, who so successfully planned and supervised
the construction of the Twin Falls South Side tract of 240,000 acres, including the great dam at Milner. (Compare Twin Falls Land & Water Co.,
owner of the aforesaid South Side tract, &c., V. 82, p. 284, 632; V. 86, p.
340. Also see Twin Falls Salmon River Land & Water Co. in V. 88, p.
1135.)-V. 86, p. 340.
Twin Falls Oakley Land & Water Co.-Guaranteed Bonds
Offered.-A. G. Edwards & Sons, St. Louis, Mo., are offering
at par and interest by advertisement on another page of this
issue of the "Chronicle" the unsold portion of $1,500,000 first
mortgage 6% gold bonds authorized under the Federal
Carey Act and unconditionally guaranteed, principal and
interest, by the American Water Works & Guarantee Co.,
Pittsburgh, Pa. (V. 88, p. 1199; V. 87, p. 1092). These
bonds are dated Oct. 1 1909; denominations $1,000, $500
and $100(c*), with interest payable A. & 0. at Trust Company of America, New York, trustee. A circular says in
substance:
The bonds mature in annual installments on April 1 from 1911 to 1920, viz:
$60,000 1911; $60,000 1912; $68,000 1913; $94,000 1914; $120,000 1915;
$180,000 1916; $225,000 1917; $262,000 1918; $263,000 1919; $168,000
1920.
The issue Is secured by: (1) An absolute first lien on 38,000 acres of
richest agricultural and fruit land located in Cassia County,southern Idaho,
In the famous "Twin Falls Country." This lien is created by the State of
Idaho, in favor of the company, under direct authorization by the United
States Government. (2) A deposit of purchase money mortgages of individual owners. The face value of these statutory first liens at all times
must aggregate at least 1 yt times the par value of the outstanding bonds.
(3) All the property, water rights, dams, canals, &c., of the issuing co.
No settler is permitted to purchase from the State more than 160 or less
than 40 acres of this land, and then only after he has contracted with the
company for water rights at $65 per acre, this price being approved by the
State. An initial payment of $3 per acre Is exacted and the balance must
be paid in ten annual installments, with interest. To secure these, purchase money 6% contract mortgages are given to the company, being
statutory first liens on each division of the land and the water rights appurtenant thereto. These individual liens are In turn pledged with the
trustee of the bondholders to the amount of at least 1 3i times the bonds
issued against them.
No additional bonds may be issued out of the $1,000,000 bonds held In
escrow (the total authorized issue being $2,500,000) unless additional liens
to the amount of 125% of the bonds to be Issued are deposited with the
trustee. As the annual partial payments are made the equity In these individual liens increases correspondingly. The market price of developed
agricultural lands in Southern Idaho varies from $75 to $400 per acre.
The climate Is matchless. All crops and fruit native to the Temperate
Zone may be grown here to the greatest advantage. All of the land is
within a few miles of the Oregon Short Line, or its branches. The Idaho
Southern RR.(V. 89, p. 919, 778) is building directly through the centre of
the tract from Milner to Oakley.
The market facilities are excellent. Boise and Salt Lake City are not far
off, and close connections are made to the Pacific Coast. The Snake River
water powers are located within a few miles. The Irrigation system comprises the impounding of the waters of Goose Creek and five other streams
and the Irrigation of the land by a suitable canal system. Two miles southeast of Oakley, where these streams flow from the Casiss Mountain Range,
a dam 150 feet high is now under construction and will furnish ample water
for the Irrigation of 50.000 acres.
[VOL. Lxxxrx.
United Fruit Co.-New Stock-Extra Dividend.-The directors on Oct. 12 voted (1) to offer to stockholders of record
on Oct. 29 the right to subscribe at par for 10% of new stock,
payment to be made Nov. 15, and (2) to declare an extra
cash dividend of 10%, payable Nov. 15 on stock of record
Oct. 29, and applicable at option of stockholders in payment
of subscriptions to the new shares.
This is In effect a stock dividend, and it is the second stock dividend
which the company has declared since organization, the first extra distribution of 10% having been announced in June 1908. The present dividend
calls for the issue of $2,134,000 of additional stock, bringing the capital
stock up to $23,474,000. Press reports place the accumulated surplus on
Sept. 30 1909 at about $12,000,000.
Regular Cash Dividends (Payable 0.-J.).
Oct. 1899. 1900. 1901. 1902 to Jan.'07. April '07 to Oct.'09.
8 yearly
7 yearly
8
10
2j
Per cent ___
Compare V. 87, p. 170, 1356, 1426, 1609; V. 88, p. 1139, 569.
United Gas Improvement Co.-Status of Controlled Properties.-See Syracuse (N. Y.) Light & Power Co. , V. 88, p.
825, 382, and Syracuse Lighting Co. in V. 88, p. 298.-V.
89, p. 353.
United States Express Co.-Holdings of Harriman Estate.
-The testimony in the suit brought against the management by Benjamin 'F. Spraker shows that $2,202,800 stock
standing in the name of Frank H. Platt, counsel for the company, and endorsed by the latter in blank, was owned by
the late E. H. Harriman and is now the property of his
estate.-V. 89, p. 48.
Utilities Corporation.-New Company.-See Lewiston &
Reedsville Electric Ry. under "Railroads", V- 89, p. 919.
Valley Home Telephone Co., Saginaw, Mich.-Consolidation.-This company was incorporated late in November
1908 with $2,500,000 of authorized capital,in shares of $100
each, to take over "practically all the independent telephone
interests in northeastern Michigan," including the exchanges
at Saginaw, Bay City, Huron, Flint, &c. The following
has been published:
Of the authorized capital stock, $1,500,000 is 6% cum. pref. and $1,000,000 common. Par $100. The Saginaw plant was taken over at a valuation
of $850,000. The merged company has in operation 8,000 telephones to
commence with, 10 exchanges, 70 toll stations and 600 miles of toll lines,
mostly copper. It is estimated th t the company's gross income will be
upwards of $150,000 per year. The directors are: President E. T. Carrington, Bay City; Vice-President John L. Jackson, Saginaw; Secretary
C. 0. Trask, Saginaw; Treas. J. F. Brand, Saginaw; J. J. Speed, Saginaw;
Wedthoff and F. W. Kessler, Bay City; R. B.
'
F. T. Woodworth, George E.
McPherson, Howell; James P. Gibbs, Ithaca, and C. W. Liken, Sebewain.
which goes Into the merger ,was inSaginaw Valley Telephone Co.,(The
corporated in April 1907 to succeed the Valley Telephone Co., and at last
accounts had 6,000 telephones in use and had issued $255,000 6% cumulative preferred, $1,000 common stock and $150,000 5% bonds dated 1899;
interest M. & N. at Union Trust Co., Detroit.]
(John) Wanamaker & Co., New York.-See John Wanamaker, Philadelphia, below.-V.89, p. 925.
(John) Wanamaker, Philadelphia.-Incorporation.-The
business of John Wanamaker, Philadelphia, carried on as an
individual, has since Oct. 11 1909 been conducted as a Pennsylvania corporation with corporate name John Wanamaker,
Philadelphia. The business of John Wanamaker, New York,
is now, and has been since July 10 1907, a New York corporation, with corporate name John Wanamaker, New York.
The capital stock of each company is $7,500,000, no bonds.
The control and management of these mercantile establishments remains solely, as before, in John Wanamaker and his
son, Rodman Wanamaker. An official statement says:
Capital of each corporation is $7,500,000, full paid, all common stock, no
bonds, consisting of merchandise, at market value, accounts receivable.
cash and other personal estate. The stock is entirely owned by John
Wanamaker, individually issued in his name, with exception of the few
shares necessary to qualify the legal officials. The corporations, from this
date, start clear of all liability. All outstanding indebtedness, to date of
this notice, will be paid by John Wanamaker.
John Wanamaker has executed a lease for 25 years from Sept. 1 1909 to
the Pennsylvania Corporation, by which it will have absolute control and
possession of the new store building now erected on the block bounded by
Market, Chestnut, Juniper and Thirteenth streets, Philadelphia, with subway connection, together with the power house and mechanical plant.
Nos. 1224-1226 Market St., running through to Ludlow St.,in the rear,and
all outside factories, stables and other buildings now and heretofore used
89, p. 925-)
and connected with the business. (Compare
V.which is entirely owned by
The A. T. Stewart Realty Co., capital stock of
John Wanamaker individually (a New York corporation formed for the sole
purpose of holding title to the New York real estate occupied by the business
of John Wanamaker), has executed a lease for 25 years from Sept. 1 1909
to the New York corporation, by which it will have absolute control and
possession of the two buildings erected on the blocks Broadway, Fourth
Ave., 8th to 10th streets, with subway connection; the north building,
known as the A. T. Stewart Building, the south building, as the Wanamaker
Building; with all outside warehouses, stables and other buildings, now
and heretofore used and connected with the business, in the city of New
York and the cities immediately adjacent.
The only object in transferring the business from Individual to corporate
existence, In both Philadelphia and New York, is to effect its perpetuity.
The accounting office is in Philadelphia, to which all correspondence, upon
accounts, should be addressed.
Officers of the Pennsylvania corporation are: John Wanamaker, President; Rodman Wanamaker, Vice-Pres.; William L. Nevin, 2d Vice-Pres.
and Sec.; Joseph D. Williams, Treas.; Frederick Rebmann, Asst. Treas.
Directors: John Wanamaker, Rodman Wanamaker, William L. Nevin.
Officers of N. Y. corporation are: John Wanamaker, Pres.; Rodman
Wanamaker, Vice-Pres.: William L. Nevin, 2d Vice-Pres and See.; Joseph
D. Williams, Treas.; Clarence W. Smith, Asst. Treas. Directors: John
"Wanamaker, Rodman Wanamaker, Robert C. Ogden, William L. Nevin,
Clarence W. Smith.-V.89. p. 925.
Western Canada Flour Mills Co.-Earnings.-For years
ending Aug. 31:
Bond Int.
Profits.
Dividends.
Bal.-Burn.
Year .
$65,043
$392,665
$236,968
(7%)$90.650
1908-09
43,884
171,484
62,850
(5%) 64,750
1907-08
On Aug. 31 1909 there was outstanding: Capital stock, $1,295,000; first
mortgage 6s, $1,095,000, less sinking fund, $21,900; net, $1,073,100. Profit and loss surplus, $584,711. Dividends paid In 1909, 7% (April, 3%;
October, 4%). Compare V. 89, P. 925.
Western Union Telegraph Co.-Directors.-Kingdon
Gould, Edward T. Jeffery and Alvin W. Krech have been
elected to the directorate, succeeding James Hazen Hyde;
Thomas T. Eckert and the late E. H. Harriman.
Annual Report.-See a preceeding page.-V.89, p. 850.
For other Investment News see pages 10141013.
1001
THE CHRONICLE
Om% 16 100.1
fevorts and
parununts.
ILLINOIS CENTRAL RAILROAD COMPANY.
FIFTY-NINTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE 30 1909.
To the Stockholders of the Illinois Central Railroad Company:
There is submitted herewith the report of the Board of Directors covering the operations and the affairs of the Company
for the year ended June 30 1909:
4,593.81
The number of miles of railroad operated by the Illinois Central Railroad Company on June 30th 1908 was
Additions for the year were—
July 1 1908:
.71
St. Charles Air Line, Chicago ____ _ _______________________________________________________________________________
___ 2.13
South Addison, Ill., to Addison, Ill ___________________________________________ ________________
______ 3.01
Cairo Bridge and Approaches ________________________________________________________________________________
1.30
Dubuque Bridge and Approach__________________________________________________________ 19.61
Dyersburg, Tenn.. to Tigertail, Tend
4.60
Troy, Tenn., to Moffat, Tenn ___ -
ea
The above items have heretofore been included under the heading of additional main track or sidings, but
are now classified as single main track, in order to conform with the requirements of the Inter-State Commerce
Commission.
6.33
Minn
Glenville to Albert Lea,
Chicago Rock Island toc Pacific
Ry.•'Albert Lea, Minn
Minneapolis & St. Louis Railroad:
Ky
Louisville Bo Nashville Railroad: Evansville, Ind., to Henderson.
These tracks operated under trackage rights.
November 1 1908:
Kentucky Valley Railroad: Wheatcroft, Ky., to Providence. KY
.37
12.20
9.38
59.64
4,653.45
Less: Deductions effective July 1 1908—
Tenn
Tennessee Central Railroad Hopkinsville, Ky , to Nashville,
Nashville Terminal at Nashville, Tenn
to
option
purchase.
the
of
expiration
on
Operation of the above discontinued
Harrison, Ill., to Carbondale, Ill
Evansville, Ind., to Henderson, Ky
74.82
9.82
7.00
11.27
The foregoing were transferred from main to side-track mileage, in order to comply with the requirements
of the Inter-State Commerce Commission. These two pieces of track are no longer utilized in connection with the
operation of the regular train service.
102.91
4,550.54
1909
Making the number of miles of railroad in operation June 30
conThe following mileage is owned but not operated, and is now reported for the first time as main track, in order to
Commission's
requirements:
Commerce
te
Inter-Sta
form with the
2.15
14.84
to Harlem, Ill
Riverside do Harlem Railroad, Riverside Junction, Ill.,
Brookhaven de Pearl River Railroad, Brookhaven, Miss., to Nola, Miss
16.99
The average number of miles operated by the Company during the year ended June 30 1909 was 4,547.41, as compared
with 4,420.46 miles in the preceding year, an increase of 126.95.
INCOME FOR THE YEAR.
The following is a statement of the Company's income for the year, compared with the previous year:
1909.
_
Average Miles operated during year
Transportation revenue
Other operating revenue
Total operating revenues
Income incident to operations
1908.
Increase (4) or ;
Decrease (—).
4,547.41
4,420.46
+126.95
$53,338,260 75
334,075 53
$52,463,180 24
367,246 59
+8875,080 51
—33.171 06
$53,672,336 28
3,473,175 91
$52,830,426 83
5,166,300 82
+$841,909 45
—1,693,124 91
$57,145,512 19
$57,996,727 65
—$851,215 46
Operating expenses
Expenses other than operating expenses
$38,415.638 63
2,988,674 65
$37.941,247 71
4,448,177 48
+8474,390 92
—1,459,502 83
Gross expenses
Taxes
$41,404,313 28
2,276,969 15
$42,389.425 19
2,190,173 02
—$985,111 91
+86,796 13
Gross operating income
$43,681,282 43
$44,579,598 21
—$898,315 78
Net operating income
Income from investments. etc
$13,464,229 76
3,874,708 00
$13,417,129 44
2,358,524 95
+$47,100 32
+1,516.183 05
Surplus for the year
Surplus dividend fund brought forward
_
Total surplus __ _ _ _- _ _______________
_
Fixed charges and-______
$17,338,937 76
1,408,186 92
$15,775,654 39
1,360,184 42
+$1,563,283 37
+48,002 50
$18,747,124 68
9,155,101 44
$17,135,838 81
7,779,255 13
+11,611.28587
+1,375,846 31
Available surplus
$9,592,023 24
$9,356,583 68
+$235,439 56
Ap,lied as follows:
7 per cent dividend on outstanding capital stock
Replacement of equipment
Surplus dividend fund
Profit and loss
$7,650,720 00
232,266 92
1,457,886 92
251,149 40
$6,652,800 00
1,046,963 00
1,408,186 92
248,633 76
+$997,920 00
—814,696 08
+49.700 00
+2.515164
Total expenses and taxes
As might be expected after the severe business depression in the preceding year, the period covered by this repor
has been one of slow recovery. The lethargy in business generally was further increased by the uncertainties of a Presidentia
election and the widespread agitation for tariff reivsion. At the date of this report these disturbing factors have been
eliminated, and with abundant crops practically assured, the prospects for the ensuing year are very good.
The total operating income was $57,145,512 19, as compared with $57,996,727 65 for the previous year, a decrease of
$851,215 46, or 1.47%.
The revenue from freight traffic handled amounted to $36,003,897 29, an increase of $646,086 37, or 1.83% for the year.
The revenue from passenger traffic amounted to $10,865,358 98, a decrease of $126,439 37, or 1.15%. The falling off
was principally due to the decrease of suburban business at Chicago.
The income incident to operation amounted to $3,473,175 91, a decrease for the year of $1,693,124 91, or 32.77%. The
principal item of decrease was in the receipts from the hire of freight cars, and was due to the falling off in the use of
our cars by other roads, and to the reduction from 50 cents to 25 cents per day in the per diem rate being in force during
the entire year, as compared with four months in the prevoius year.
The gross expenses amounted to $41,404,313 28, as against $42,389,425 19 the previous year, a decrease of $985,111 91,
or 2.32%. The ratio of expenses to income was 72.5%, as compared with 73.1% the previous year. There were marked
decreases in transportation expenses, and for the hire of freight cars. The explanation with reference to the latter item
in the preceding paragraph applies in this case also. On the other hand, there was a decided increase in the expenses for
maintenance of equipment, due to heavy repairs made to rolling stock.
The taxes were $2,276,969 15, as against $2,190,173 02 the previous year, an incte,ase of $86,796 13, or 3.96%. The
increase was all on the assessed lines and was due principally to larger assessments in several of the States through which
the Company operates, and in part to increased mileage and the acquisition of the terminal property at New Orleans
and Memphis.
The net income from operations amounted to $13,464,229 76, an increase of $47,100 32, or 0.35%.
THE CHRONICLE
1002
[VOL. Lxxxix.
CAPITAL STOCK.
During the year 142,560 shares of additional capital stock were issued in accordance with resolutions adopted by the
stockholders at their meeting on May 18 1908, thus increasing the outstanding stock to one hundred and nine million, two
hundred and ninety-six thousand dollars ($109,296,000 00). The remaining half of the authorized new stock has not been
issued.
FUNDED DEBT-TABLE NO. 6.
bonds outstanding July 1 1908
Bonds issued during the year-Refunding Mortgage Four Per Cent
$159,819,275 00
20,000,000 00
$179,819,275 00
Refunding mdrtgage 4% gold bonds to the amount of one hundred and twenty million dollars ($120,000,000 00) were
authorized to be issued and reserved as follows:
$61,766,000 00 Reserved to retire a like amount of prior lien bonds.
20,000,000 00 For corporate purposes (the bonds referred to above).
28,234 000 00 To be available for issue from time to time, in funding indebtedness, paying for, constructing, completing, improving or maintaining
the lines of railroad of the Company, or for other corporate purposes.
10,000,000 00 To be issued only to acquire the property of the Indianapolis Southern Railroad Company, in which case the lien of the refunding
bonds is to be extended to cover as a first mortgage the property of that Company.
These bonds are secured by mortgage on the system of railroads comprising substantially all the lines owned in fee by
the Company north of the Ohio River, with the exception of the so-called Litchfield Division-extending from Springfield
to Bridge Junction, Ill., a distance of 97.59 miles, the South Chicago Branch, 4.76 miles, and the Blue Island Branch,
3.96 miles.
BONDS OWNED-TABLE NO. 3.
The decrease of $1,310,076 77 is owing to the sale of Iowa Falls & Sioux City Railroad Company 7% bonds, of the
par value of $460,500 00, for the sum of $523,07313,and to the transfer to the various funds of $1,343,000 00 of The Yazoo
& Mississippi Valley Railroad Company Gold Improvement bonds and $56,000 00 Mississippi Valley Corporation bonds;
also to $128,969 00 paid for Kentucky Valley Railroad Company 5% bonds; $13,158 04 Dubuque & Sioux City Railroad
Company 4% bonds received in settlement of amounts expended for additions and betterments on that road; $94,181 69
Indianapolis Southern Railroad Company 5% bonds received in settlement for additions and increase in book value of bonds
previously owned on account of improvements made on that road; $375,687 63 of The Yazoo & Mississippi Valley Railroad
Company Gold Improvement bonds received in payment for additions and betterments made during the year.
•••
STOCKS OWNED-TABLE NO, 4.
02
is
$3,900,599
owing
to $3,474,249 02 paid for 49,985 shares of the 50,000 shares total outstanding
of
The increase
capital stock of the Central of Georgia Railway Company; $410,000 paid for capital stock of the Dubuque & Sioux City
Railroad Company and $16,350 par value of new stock of this company remaining in treasury, and other stock purchased.
SURPLUS DIVIDEND FUND.
Interest amounting to $49,700 accruing on the securities in the fund was added thereto, increasing it to $1,457,886 92.
INSURANCE FUND-TABLE NO. 8.
During the year there was added to the fund, through charges to operation, interest on investments of the assets of
the fund, and collections from lessees, &c., $149,061 45; there was deducted for losses by fire and premiums paid to fire insurance companies $171,532 61. The balance in the fund at the end of the year was $2,009,655 15.
SINKING FUNDS.
The Trustees of the Cairo Bridge Fund report that on June 30 1909 they held:
For the Contingent Fund, $504,750 11; for the Sinking Fund, $171,478 06, an increase of $25,827 71 for the year;
for the credit of the Chicago St. Louis & New Orleans Railroad Company, subject to the order of the Board of Directors
-of that Company, $270,290 33, an increase of $39,115 86 during the year.
The trustees of the other funds report that they held as of June 30 1909 in the Sinking Fund for Western Lines Bonds
$871,538 43, an increase of $78,829 42 for the year, and in the Sinking Fund for Omaha Division Bonds $100,265 61, an
increase of $13,488 57 during the year.
The aggregate amount added during the year to these funds was $157,261 56.
CAPITAL EXPENDITURES.
The improvements charged to capital and included in cost of railroad and equipment during the year were as follows:
$955,326 34
16,496 77
27,996 13
65,983 68
50,376 77
107,517 84
21,673 40
26,316 31
45,772 61
7,659 06
24,603 99
10,455 40
20,189 79
44,893 27
10,014 50
$1,435,275 9,5
Right of way and station grounds
Protection of banks, grade revisions, etc
Track elevation, elimination of grades, etc
Bridges, trestles and culverts
Increased weight of rail
Additional tracks
Interlocking and block signals
Telegraph and telephone lines
Station buildings and fixtures
Shops, enginehouses and turntables
Grain elevators and storage warehouses
Shop and road tools
Miscellaneous structures
New lines
Other expenditures
There is included in the item "Right of Way and Station Grounds" $906,938 85, the cost of property at New Orleans,
adjoining the Poydras Street terminals of the Yazoo & Mississippi Valley Railroad. It is proposed to make extensive
improvements on the combined properties and to establish a union freight terminal to be used jointly by the two companies.
CENTRAL OF GEORGIA RAILWAY.
The capital stock of the Central of Georgia Railway Company was purchased during the year. The company has
1,915 miles of track in the States of Georgia, Alabama and Tennessee, reaching the principal cities in the two States first
named. It also owns the entire capital stock of the Ocean Steamship Company, operating between Savannah, Georgia,
and New York and Boston. Your road has direct connection with that of the Central of Georgia Railway Company at
Birmingham, Alabama, and thus secures a direct route through which to handle business of the North and West to and from
points in the Southeast. It is believed that this connection will add materially to the traffic over the Birmingham line.
KENTUCKY VALLEY RAILROAD.
All of the capital stock and bonds of the Kentucky Valley Railroad, extending from a connection with your road at
Wheatcroft, Ky., 9.38 miles, to Providence, Ky., were purchased. This road extends into a valuable coal field. It is
operated under lease as a part of the Louisville Division.
ADVANCES ON ACCOUNT OF OTHER RAILROADS-TABLE NO. 5.
KENSINGTON & EASTERN RAILROAD.
This road was described in detail in report for year ended June 30 1907. The track constructed for use as an electric
line was turned over on April 4 1909 to the lessee, the Chicago Lake Shore & South Bend Railway Company. The track
for steam operations• is practically completed.
The amount advanced to June 30 1909 was $1,110,821 59, of which $485,828 78 was expended during the year.
.ELECTRIFICATION OF CHICAGO TERMINALS.
The subject of electrification of the Chicago terminals of this company has had, and is having, most earnest and thorough
consideration. The problems prseented are unique and complex.
There are no great freight terminals operated by electricity, and it is questionable, even aside from the great expensy
involved, if it is practicable. There are over three hundred and ten miles of track in the terminals, and there is a vere
1903
THE CHRONICLE
OCT. 16 1909,1
that the trains
heavy exchange of cars between this road and other roads in Chicago; to effect this exchange, it is necessary
with this
tracks;
our
upon
come
shall
and
trains
companies,
that
their
other
of
tracks
the
upon
go
of this company shall
road alone electrified, this exchange of cars would not be practicable.
it would
Without precedents to guide, the estimates of cost are at best unreliable; from the best obtainable informationto expend
a
sum
great
$18,000,000,
than
this
company
be
would
more
of
terminals
the
electrifying
of
cost
appear that the
upon what would be of doubtful success in operation.
the
Earnest and painstaking investigation and consideration are being given to the subject, and pending a solution ofto a
problem that will be satisfactory to all the interests concerned, this company is devoting great attention to reducing
minimum the noise and smoke of its locomotives.
The Board have authorized the purchase of, and the officers are negotiating for, cars propelled by gasoline motors,
and adapted for handling suburban passengers. Experiments in the use of coke as fuel for loComotives are being pursued.
STANDARDS OF MAINTENANCE.
The maintenance of the property has had close attention.
The average weight of rail in main track is 76 pounds, as compared with 75.61 pounds last year. The average hauling
year, 4,096 tons. The average capacity of revenue freight cars
capacity of locomotives on level tracks is the same as lastage
of rails in main track is 10.54 years,that of locomotives 13.36
average
The
year.
last
tons
37.69
against
tons,
38.19
is
years and that of revenue freight cars 7.60 years.
the replacement of equipment on the basis of
The regulations of the Inter-State Commerce Commission provide for
to operating expenses, salvage and depreciation
the cost thereof. Amounts credited to replacement through charges
prior to June 30 1907 may be applied to the purchase of any class of rolling stock without regard to the particular source
from which the credit was derived.
The entire cost of equipment which passed out of existence during the year, less salvage, has been charged to the income
for the period. In addition, operating expenses were also charged with depreciation on all equipment remaining in service.
on rolling stock amounted
The total charged to operating expenses and income for repairs, renewals and depreciation
an increase of $975,391 90.
to $10,951,811 02, as compared with $9,976,419 12 in the previous year,
All passenger cars and 98.29% of the freight cars are equipped with air-brake appliances.
The attention of the stockholders is invited to the accompanying tables, showing further details of the company's
By order of the board of directors.
business.
J. T. HARAHAN,
President.
Chicago, September 14 1909.
TABLE NO. 1-ASSETS AND LIABILITIES.
2
3
4
June 30 1909.
ASSETS.
Table.
Capital AssetsRailroad and equipment
Bonds owned
Stocks owned
June 30 1908.
Table.
$208,436,472 61 $207,001,196 66
85,303,843 48 86,613,920 25
6,734,654 89
10,635,253 91
6
$304,375,570 00 $300,349,771 80
6
June 30 1909.
LIABILITIES.
June 30 1908.
Capital Liabilities$109,296,000 00 $95,040,000 00
Capital stock
10,000,000 00 10,000,000 00
Leased line stock
Funded Debt-Illinois Central RR.
179,819,275 00 159,819,275 00
Co
Funded Debt-Chicago St. Louis &
16,234,000 00 16,234.000 00
New Orleans RR. Co
1315,349,275 00 $281,093,275 00
Current AssetsCash
Bills receivable
Due from agents
Remittances in transit
Individuals and companies
U. S. P.0. Dept
Material and supplies
$2,881,268 41
628,069 82
320,000 99
1,431,149 11
1,681,411 20
89,739 44
6,546,054 61
Current LiabilitiesDividend payable Sept. 1 1908
Dividend payable Sept. 1 1909
Coupons matured but not presented
Coupons due July 1
Dividends due but uncalled for
Dividends payable July 1
Bonds past due, not presented
Loans and bills payable
Outstanding drafts
Traffic balances
Individuals and companies
Vouchers and pay rolls
$1,589,723 81
463,828 14
383,97730
1,324,419 02
1,905,37592
268,29501
5,147,999 06
$13,577,693 58 $11,083,618 26
$3,326,400 00
$3,825,360 00
66,355 00
1,063,450 00
29,160 30
200,000 00
1,000 00
302,073 41
285,772 26
62,853 21
3,488,359 72
59,122 50
1,063,450 00
22,219 20
200.000 00
1,00000
8,400,000 00
500,876 44
185,165 26
20,834 46
6,970,913 71
$9,324,383 90 $20,749,981 57
5
Deferred AssetsAdvances for cross ties
Individuals and companies
Due from subsidiary companies.._
Miscellaneous
Advances account other railroads
St. L. A. & T. H. and subsidiary
lines suspense account
$857,834 53
3,419,422 10
381,807 35
7,504,377 32
$179,885 60
550,418 76
2,394,322 44
341,034 74
8,302,423 64
3,328,300 00
3,328,300 00
Deferred LiabilitiesInterest accrued on bonds and loans
to June 30
Taxes accrued but not due
Individuals and companies
Installments on new stock
Loans and bills payable
Stock and funded debt of St L. A.
& T H.and subsidiary lines
8
22
Total assets
$2,009,655 15
1,457,886 92
250,000 00
2.318,714 20
418,104 56
$2,032,126 31
1,408,186 92
250,000 00
1,471,651 83
1,246,391 29
52.600 00
10,277 73
53,500 00
11,596 75
$6,517,238 56
$6,473,453 10
3,328,300 00
3,328,300 00
$6,375,713 46 $20,993,180 51
$15,491,741 30 $15,096,385 18
Contingent AssetsAssets in Insurance fund
Surplus dividend fund_
"
Pension fund
"
Unadjusted accounts
Real estate
Collateral held against bank accounts
Advances to associations
1,620,000 00
$809,337 37
662,742 68
90,925 46
911,875 00
15,190,000 00
$785.791 46
571,457 35
70,164 65
9
$339,962,243 44 $333,003,228 34
Contingent Liabilities
Insurance fund
Surplus dividend fund
Pension fund
Replacement of equipment fund..
Fund for auto. couplers and air
brakes
Trust accounts
Unadjusted accounts
Due to proprietary companies
Miscellaneous
Balance to credit of Profit and Loss_
$2,009,655 15
1,457,886 92
250,000 00
790,459 96
$2,032,126 31
1,408,186 92
250,000 00
1,051,099 84
27,964 96
68,311 90
1,262,638 92
13,487 97
6,875 00
29,942 42
81,684 42
.1,033,537 38
26,238 74
9,460 00
$5,887,280 78
$5,922,276 03
$3,025,590 30
$4,244,515 23
$339,962.243 44 $333,003,228 34
Total liabilities
TABLE NO. 2-RAILROAD AND EQUIPMENT.
Illinois Central RR.-Proper.
Illinois Central RR.-Purchased Lines:
Litchfield Division
Chicago & Springfield
Kankakee & Southwestern
Chicago Havana & Western
Rantoul
Chicago Madison & Northern
Riverside & Harlem
Chicago & Texas
Mound City
St. Louts Division (St. Louis Alton & Terre Haute)
Mattoon to Evansville
Peoria Decatur & Mattoon
St. Louis & Ohio River
Mounds & Olive Branch
Groves & Sand Ridge
_____________________________
Christopher & Herrin
Illinois Central-Terminals:
New Orleans
Memphis
South Chicago RR
Blue Island RR
Canton Aberdeen & Nashville RR
Chicago St. Louis & New Orleans RR
Louisville Division lease and mortgage lien
Lien on Dubuque de Sioux City RR. to secure I. C. Western Lines bonds
Omaha Division
'
Total
______
June 30 1909.
June 30 1908.
$72,176,023 78
$72,009,371 28
$166,652 50
3,262,235 58
2,587,257 34
1,439,426 89
1,849,761 07
584,281 49
10,930,099 72
205,583 14
1,925,915 22
12,968 68
13,017,336 89
2,073,595 27
3,181,561 83
285,062 21
263,527 12
535 91
532,535
532,
101,868 06
3,256.331 53
2,584,682 47
1,438,943 41
1,849,460 53
584,281 49
10,912,084 36
205,583 14
1,917.170 90
12.968 68
13,001,946 91
2,067,911 99
3,179,938 42
285.062 21
263,527 12
532,595 91
90,703 10
5,904 05
2,574 87
483 48
300 54
5,843,193 94
2,665,519 38
260,899 42
75,569 98
2,021,847 17
45,083 560 73
27,631,841 79
5,425,000 00
5.000,000 00
4,936,255 09
2,569.488 41
260,486 73
73,264 20
2,021,472 27
44,981.711 32
27,540,955 19
5,425,000 00
5,000,000 00
906,938 85
96.030 97
412 69
2,305 78
374 90
101,849 41
90,886 60
$208,436,472 61
5207,001 196 66
$1,435,275 95
Increase.
e.
Decreas.
18,015 36
8,744 32
15,389 98
5,683 28
1,623 41
60 00
11,164 96
1
THE CHRONICLE
100-1
[VOL. Lxxxix.
TABLE NO. 3-BONDS OWNED.
June 30 1908.
June 30 1909.
Par Value.
•
Illinois Central Gold Fours of 1953
•
Illinois Central Gold. Louisville Division, Three and a hail's of 1953
Illinois Central Gold, St. Louis Division, Three of 1951
Illinois Central Gold, Litchfield Division, Threes.of 1951
•
Illinois Central Gold, Purchased Lines, Three and a halls of 1952
Illinois Central*Gold, First Lien Equipment Fours
Chicago St. Louis & New Orleans RR. Co. Gold Fives
Yazoo & Mississippi Valley RR. Co. Gold Improvement Fours of 1934 ,
Registered
Dubuque & Sioux City RR. Co., Gold Fours of 1951
Indianapolis Southern RR. Co. Gold Fives
Kentucky Valley RR. Company Gold Fives
Mississippi Valley Corporation Fours of 1943, Registered
Mississippi Central Second Mortgage (past due)
Iowa Falls & Sioux City RR. Co. First Mortgage Sevens of 1917
Tennessee Central RR. Co. Prior Lien Fours of 1934
Book Value.
Par Value.
Book Value.
$71,000 00
$71,000 00
$71,000 00
$71,000 00
2,100,000 00 2,100,000 00 2,100,000 00 2,100,000 00
275 00
101 50
275 00
101 50
87.000 00
87,000 00
87,000 00
87,000 00
2,662,000 00 2,662,000 00 2,662,000 00 2,662,000 00
30,000,000 00 30,000,000 00 30,000,000 00 30,000,000 00
80,000 00
80,000 00
80,000 00
80,000 00
5,185,434 81
719,714 20
10,000,000 00
150,000 00
2,997,000 00
600 00
5,185,434 81
719,714 20
8,772,658 24
128,969 00
2,997,000 00
600 00
1,338,000 00
1,338,000 00
6,152,747 18
706,556 16
9,950,507 90
6,152,747 18
706,556 16
8,678,476 55
3,053,000 00
600 00
460,500 00
1,338,000 00
3,053,000 00
600 00
523,073 13
1,338.000 00
$55,391,024 01 $54,142,477 75 556,662,186 33 $55,452,554 52
Bonds PledgedSee Table No. 7.
$2,800,000 00 $2,324,488 18 $2,800,000 00 $2,324,488 18
Yazoo & Mississippi Valley RR. Co. First Mortgage Gold Fives of 1952 •
$3,100,000 00
Cherokee & Dakota RR. Co. First Mortgage Gold Fives 01 1935
•
830,000 00 3,930,000 00 3,930,000 00 3,930,000 00 3,930,000 00
Cedar Rapids & Chicago RR. Co. First Mortgage Gold Fives of 1935
Louisville New Orleans & Texas By. Co. First Mortgage Gold Fours 01193 $16,832,000 00
Louisville New Orleans & Texas Ry. Co. Second Mortgage Fives of 1934_ 9,104,000 00
Louisville New Orleans & Texas By Co. Land Grant Income Bonds
9,904,000 00 35,840,000 00 24,906,877 55 35,840,000 00 24,906,877 55
of 1934
$97,961,024 01 585,303,843 48 599,232.186 33 $86,613,920 25
Total
TABLE NO. 4-STOCKS OWNED.
June 30 1909.
Par Value.
Illinois Central RR. Co. stock and scrip
Chicago St. Louis & New Orleans RR. Co
Dubuque & Sioux City RR. Co
Central of Georgia Ry
Chicago Union Transfer fly. Co
Peoria & Pekin Union By. Co
Other Stocks
Total
Book Value.
June 30 1008.
Par Value.
Book Value.
22,040 00
10,200 00
11,726,200 00
4,998,500 00
80,000 00
250,000 00
312,400 00
22,040 00
10,200 00
6,840,889 02
3,474,219 09
40,000 00
203,200 00
44,675 87
56 690 00
10,200 00
10,466,200 00
56,690 00
10,200 00
6,430,889 02
80,000 00
250,000 00
311,400 00
40,000 00
203.200 00
43,675 87
$17,399,340 00
$10,635,253 91
$11,124,490 00
$6,734,654 89
TABLE NO. 5-ADVANCES ON ACCOUNT OF OTHER RAILROADS.
Amount Advanced to June 30
Increase.
1909.
Canton Aberdeen & Nashville RR. in Alabama
Kensington & Eastern RR
Rockford RR
Line to Nashville and Terminals in Nashvillea Railroads
b Other property
Line to Birmingham
Bloomington Southern RR
Memphis Railroad Terminal Co
Total
Decrease.
1908.
5166,333 66
1,110,821 59
3,779 45
$166,333 66
624,992 81
3,779 45
$485,828 78
6,028,042 62
75,400 00
120,000 00
908,861 16
396,102 67
6,010,850 89
71,500 00
120.000 00
17,191 73
3,000 00
57,504,377 32
58,302,423 64
5908,864 16
396,10267
$798,046 32
a Expenditures on account of the Tennessee Central Railroad, including the Nashville Terminal, operated under option to purchase.
b Expenditures made by the Nashville Terminal Realty Company, a subsidiary company controlled jointly by the Illinois Central Railroad and
Southern Railway Companies, and organized for the purpose of acquiring and improving property in Nashville, Tenn., outside of that embraced in the
option to purchase.
TABLE NO. 8-INSURANCE FUND.
Year Ended
June 30 1909.
Amount at credit of fund July 1
Added through monthly charges to expenses of operation
Collected from lessees, account of insurance
Interest received on investments of the fund
Salvage
Losses by fire
Premiums paid
Amount at credit of fund Juno 30
TABLE NO. 9-PROFIT AND
Suspended claim account
Interest paid on Tennessee Central RR. Co. securities during
option period
Discount on bonds sold
Balance June 30 1909
Year Ended
June 30 1908.
$2,032,126 31
60,000 00
9,721 45
79,140 00
200 00
$1,915,532 77
120,000 00
11,671 79
78,100 00
$2,181,187 76
52,125,304 56
$140,056 06
31,476 55
$93,178 25
5171,532 61
593,178 25
$2,009,655 15
$2,032,126 31
Loss.
5266,234 33 Balance brought forward _ ---------Balance from Table No 10
203,840 00
1,000,000 00
3,025,590 30
---- ---------- 54,244,515 23
251,149 40
$4,495,664 63
$4,495,664 63
77113TJE NO. 1O-INCOME ACCOUNT.
Operating Expenses (Table No. 11)
Expenses other than operating expenses (Table No.
Taxes (Table No. 11)
_
538,415,638 63 Operating revenue (Table No. 11)
2,988,674 65 I Income incident to operations (Table No. 11)
2,276,969 15
Total
$43,681,282 43 Income from investments, etc. (Table No. 12)
9,155,101 44
Total expenses and taxes.;
Fixed charges and rents (Table No. 13)
Dividends- •
108th semi-annual cash diVidend paid March 11909, 3j-% 3,825,360 00
109th semi-annual cash dividend payable Sept.1 1909,3 A % 3,825,360 00
232,266 92
Appropriated to replacement of equipment
49,700 00
Surplus Dividend Fund
251,149 40
Balance to profit and loss (Table No. 9)
561.020.220 19
553,672,336 28
3,473,175 91
$57,145,512 19
3,874,708 00
$61,020,220 19
1005
THE CHRONICLE
OCT. 16 1909.;
TABLE NO. 11-OPERATING INCOME AND EXPENSES.
Transportation revenueFreight
Passenger
Mail
Express
Milk revenue (on passenger trains)
Other passenger train revenue
Switching
Miscellaneous
Total
Other operating revenue
Total operating revenues
Income incident to operationsRent of tracks and property
• Hire of equipment
Sundry other items
Total
Gross operating income
•
EXPENSES.
Operating expensesMaintenance of way and structuresSupervision
Roadway and tracks ___
_
Signals and interlocking plants
Structures
Miscellaneous
Total
Maintenance of equipmentSupervision
Locomotives
Passenger train cars
Freight train cars
Floating equipment
Work equipment
Shop machinery and tools
Miscellaneous
Year Ended
June 30 1908.
Year Ended
June 30 1909.
INCOME.
____
•
Total
$36,003,897 29
10,865,358 98
940,592 66
1,605,939 27
167,987 65
234,125 04
426,376 48
3,093,983 38
*53,338,260 75-334,075 53
353,672,336 28
$35,357,810 92
10,991,798 35
936,094 80
1,254,995 52
166,002 76
186,042 16
403,578 87
3,166,856 86
4-52,463,180 24
367,246 59
$52,830,426 83
$1,348,204 81
1,721,365 05
403,606 05
$1,240,731 06
3,520,111 58
405,458 18
Total
General expensesSalaries and expenses of general officers
Salaries and expenses of clerks and attendants
General office supplies and expenses
Law expenses
Insurance
Pensions
Pension department expenses
Miscellaneous
Total
Total operating expenses
Expenses other than operating expensesRent of tracks and property
Hire of equipment
Sundry other items
Total
Gross expenses (excluding taxes)
Taxes
Total expenses and taxes
Net operating income
3696,086 37
Decrease.
$126,439 55
9,497 86
350,943 75
1,984 89
48,082 88
22,797 61
72,873 48
$875,080 51
$33,171 06
$841,909 45
$107,473 75
$1,798,746 53
1,852 13
$3,473,175 91
$5,166,300 82
$1,693,124 91
$57,145,512 19
$57,996,727 65
$851,215 46
3319,425 90
4,003.063 38
204,240 18
1,644,943 29
24,613 84
3336,797 00
4,104,401 45
389,796 40
1,724,677 39
12,492 80
$17,321 10
101,338 07
185,50622
79,734 10
$6,196,286 59
$6,568,065 04
3181,48035
3,506,602 51
811,477 91
6,253,930 22
26,596 25
147,533 46
254,421 20
83,585 18
$176,939 77
3,117,078 87
687.335 58
4,984,662 32
27,467 46
140,379 35
257,316 87
65,104 13
$4,540 58
389,523 64
124,14233
1,269,26790
311,265,627 08
$9,456,284 35
$1,809,342 73
$12,121 04
$371,778 45
$871 21
7,154 11
2,895 67
18,481 05
$1,206,27646
$28,920 44
$681,276 35
3,130,704 39
8,797,982 79
3,430,189 91
2,676,112 23
270,204 38
1,358,088 56
273,383 15
$725,536 83
3,161,941 83
7,081,838 07
3,535,484 59
2,951,804 62
315,277 82
1,427,975 51
260,580 46
$44,260 28
31,237 44
283,855128
105,274 68
275,692 39
45,073 44
69,886 95
$18,617,941 76
$19,960,419 53
$129,532 77
497,155 48
70,211 59
203,473 82
62,077 19
63,118 25
5.074 43
131,883 65
$116,784 42
522,493 06
65,643 32
227,968 88
122,928 18
55,838 20
6,248 33
132,297 94
$1,177,356 02
Traffic expenses
Transportation expensesSupervision _ _
Passenger train expenses
Freight train expenses
Station expenses
Yard switching expenses
Telegraph and signals
Claims and damages
Miscellaneous
Increase.
I
$12,802 69
$892,477 77
$7,748 35
$25,337 58
4,568 27
24,495 06
60,850:99
7,280 05
273 90
414 29
31,158,427 18
$1,250,202 33
$38,415,638 63
337,941,247 71
$474,390 92
$654,929 90
1,904,919 47
428,825 28
$526,621 41
3,509,189 58
912,36649
$128,308 49
$2,988,674 65
$4,948,177 48
$41,404,31328
2,276,969 15
$42.389,425 19
$2,190,173 02
$43,681,282 43
$44,579,598 21
$13,464,229 76
313.417,129 44
$91.775 15
$1,604,270 11
16,458 79
$1,459,502:83
$985,11101
$86.796 13
$898,315'.78
$47.100 32
TABLE NO. 12-INCOME FROM INVESTMENTS, ETC.
Interest paid on money borrowed less received on money
loaned
Fixed Charges of Subsidiary Lines written off
$171,257 0:
503,500 0(
Dividends on Stocks OwnedIllinois Central RR. Co
Chicago St. Louis & New Orleans RR. Co
Dubuque & Sioux City RR. Co
$7,724 50
408 00
410.417 00
$418,549 50
Interest on Bonds Owned!. C. RR. Co. Gold Fours of 1953
$2,840 00
I. C. RR.Co. Gold Litchfield Div. Threes of 1951
2.610 00
I. C. RR. Co. Gold Louisville Div. 3 s of 1953_
73,500 00
I. C. RR. Co. Gold Purchased Lines 3)is of 1952
93,170 00
I. C. RR. Co. 1st Lien Equipment Bonds
1,200,000 0
I. C. RR. Co. Gold Refunding Mortgage Fours_ _
85.000 0
Dubuque & Sioux City RR. Co. Gold 45 of 1951_
28,262 24
Cherokee & Dakota RR. Co. 5s of 1935
155.000 00
Cedar Rapids & Chicago RR.Co. 58 of 1935___ _
41.500 00
Iowa Falls & Sioux City RR. Co. 7s of 1917_ _
17,102 45
C. St. L. & N. 0. RR. Co. Gold 5s of 1951_
267,300 00
C. St. L. & N.0. RR.Co. Gold Bridge 5s of 1950 150.000 00
Y. & M. V. RR. Co. Gold 5s of 1952
140,000 00
Y. & M. V. RR.Co. Gold Improvement 450(1934 248,429 88
L. N. 0. & T. By. Co. 4s of 1934
673.280 00
Mississippi Valley Corporation 4s of 1939
120.932 33
53,520 00
Tennessee Central Prior•Lien Bonds
152,292 24
Indianapolis Southern RR. Co. Gold 5s
Balance
3,509,739 14
49,700 00
Interest on Securities in Surplus Dividend Fund
373.037 68
Sundry Profits
569 67 -- 72,468 01
Less: Sterling Exchange
Land Office
508 40
Interest on Bonds of Subsidiary Lines pledged to
secure $15,000,000 Illinois Central 45 of 1952.
$817,500 00
$16,350,000 5s
Less: Interest collected as above:
From Y. & M. V. RR.Co.
On its Gold 5s of 1952_$140,000
From D. & S. C. RR. Co.
On Cherokee & Dakota
RR. Co. Gold 5s of
155,000
1935
On Cedar Rapids & Chicago RR.Co. Gold 5s
41,500
of 1935
336,500 00
Interest on:
3481,000 00
South Chicago RR. Co. 5s of 1922
10,000 00
Canton Aberdeen & Nashville RR. Co. note
3,874,708 00
given for Bonds canceled
503,500 00
12,500 00
•
34.549.465 05
4.549,465 05
[VOL. Lxxxix
THE CHRONICLE
1006
TABLE NO 14.-ADDITIONS AND BETTERMENTS.
^
Additions.
By Roads-
$63,982 47
Illinois Central RR.-Proper
Illinois Central RR.-Purchased LinesLitchfield Division
Chicago & Springfield
Kankakee & Southwestern
Chicago Havana & Western
Chicago Madison & Northern
Chicago & Texas
St. Louis Alton & Terre Haute
Mattoon to Evansville
Peoria Decatur & Mattoon
Christopher & Herrin
Groves & Sand Ridge
2,584 55
2,094 73
212 58
300 54
12,824 75
1,803 86
6,626 64
4,683 61
860 86
11,164 96
60 00
Cr.
Illinois Central RR.-TerminalsNew Orleans
Memphis & State Line RR
906,038 85
95,490 97
$1,109,509 37
Total on I. C. RR. Proper, Purchased Lines and Terminals
5,004 05
2,574 87
483 48
300 54
5,19061
18,015 36
6,94046
8,744 32
8,763 34
15,389 98
5,683 28
999 67
762 .55
1,623 41
11,164 96
60 00
Cr.
3,319 50
480 14
270 90
006,038 85
96,030 97
540 00
$129,937 20 $1,239,446 57
243 90
$412 69
2,305 78
374 90
23,281 62
8,738 98
45,792 92
52,174 51
17,654 30
45,093 68
• 75,456 13
26,393 28
90,886 60
$80,374 99
$115,454 39
$195,829 38
$1,189,884 36
Distributed as followsRoad:
Right of way
Station grounds
Protection of banks
Grade revisions and changes of line
Bridges, trestles and culverts
Increased weight of rail
Additional main tracks
Sidings and spur tracks
Fencing right of way
Improvement of over and under grade crossings
Track elevation, elimination of grade crossings, etc
Interlocking apparatus
Block and other signal apparatus
Telegraph and telephone lines
Station buildings and fixtures
Shops, engine houses and turn-tables
Shop machinery and tools
Water and fuel stations
Grain elevators and storage warehouses
Dock and wharf property
Miscellaneous structures
Roadway tools
New lines and extensions
$166,652 50
$288 00
Chicago St. Louis oc. New Orleans RR.
Main Line and Branches
Memphis Division
Louisville Division
Grand Total
$102,670 03
$124 69
2,305 78
131 00
South Chicago RR
Blue Island RR
Canton Aberdeen & Nashville RR
Total on other roads
Total.
Betterments.
$245,391 59 $1,435,275 95
$10,423 23
944,903 11
1,686 47
10,201 78
97,305 66
1,201 11
863 80
9,678 75
5,676 35
26,316 31
1,966 75
2,540 54
8,955 49
Cr. 2,984 65
22,404 66
232 90
3,846 43
1,50000
44,893 27
Cr.
$1,189,884 36
Grand Total
$4,019 39
12,477 38
64,297 21
50,376 77
10 40
4,473 31
2,037 76
28,859 93
6,318 30
43,805 80
5,118 52
6,937 46
2,199 33
2,069 42
12,390 55
$10,423 23
944,903 11
4,019 39
12,477 38
65,983 68
50,376 77
10,212 18
97,305 66
5,674 42
2,037 76
27,996 13
15,097 05
5,676 35
26,316 31
45,772 61
7,659 06
8,955 49
3,952 81
24,603 99
2,302 32
16,236 98
1,50000
44,893 27
$245,391 50 $1,435,275 95
TABLE NO. 15-GENERAL OPERATING RESULTS.
Year ended June 30
Increase(+)
Per
Cent.
-+2.87
--
Or
1908.
1909.
Average Miles of Road Operated
Decrease (-).
4,547.41
4,420.46
+126.95
$57,145,512 19
41,404,313 28
15,741,198 91
72.45
$12,566 61
9,105 03
3,461 58
1 97
1 43
54
$57,996,727 65
42,389,425 19
15,607,302 46
73.09
$13,120 07
9,589 37
3,53070
201
1 47
54
-$851,215 46
-985,111 91
+133,896 45
-0.64
-$553 46
-484 34
-69 12
-004
-0 04
-1.47
-2.32
+0.86
-0.88
-4.22
-5.05
-1.96
-1.99
-2.72
16,689,056
11,913,997
328,166
17,688
28,948,907
'480,230
368,345
612
109
29,798,203
6,462,914
36,261,117
576,266
2.93
16,965,496
11,724,170
203,689
19,034
28,912,389
491,569
372,014
32
762
29,776,766
7,115,414
36,892,180
586,122
2.99
--276,440
+189,827
+124,477
--1,346
+36,518
--11,339
--3,669
4-580
--653
4-21,437
--652,500
--631,063
--9,856
--0.06
--1.63
+1.62
+61.11
--7.07
+0.13
--2.31
--0.99
4-1,812.50
--85.70
4-0.07
--9.17
--1.71
--1.68
--2.01
327,570,803
143,075,751
17,369,571
488,016,125
19.25
8.41
28.68
67.12
29.32
3.56
63,776,434
5.21
320,614
5,209,885
322,235,987
145,909,117
17,488,004
485,633,108
18.77
8.50
28.29
66.35
30.05
3.60
62,305,591
5.22
322,395
4,722,256
+5,334,816
-2,833,386
-118,433
+2,383,017
+0.48
-0.09
+0.39
+0.77
-0.73
-0.04
+1,470,843
-0.01
-1,781
+487,629
+1.66
-1.94
-0.68
+0.49
+2.56
-1.06
+1.38
+1.16
-2.43
-1.11
+2.36
-0.19
-0.55
+10.33
$1,16249
3,059 86
952 44
100 41
64.31 cents
51.34 cents
$l,26726
2,680 20
798 30
80 09
67.31 cents
52.75 cents
-$14477
+379 66
+154 14
+20 32
-3.00 cents
-1.41 cents
Income and Expenses1
2
3
4
5
6
7
89
10
Income
Expenses, exclusive of taxes
Excess of income over expenses
Per cent of expenses to income
Income per mile of road
Expenses per mile of road
Excess of income over expenses per mile of road
Income per revenue train mile
Expenses per revenue train mile
Excess of income over expenses per revenue train mile
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Revenue freight train miles
Revenue passenger train miles
Revenue mixed train miles
Revenue special train miles
Total revenue service train miles
Helping and light freight locomotive miles
Helping and light passenger locomotive miles
Helping and light mixed locomotive miles
Helping and light special locomotive miles
Total revenue service locomotive miles, excluding switching
Switching locomotive miles
Total revenue service locomotive miles
Non-revenue service locomotive miles
Per cent of helping and light mileage to revenue train mileage
25
28
27
28
29
30
31
32
33
34
35
36
$7
38
Freight car miles-Loaded
Freight car miles-Empty
Freight car miles-Caboose
Total freight car miles
Average number of loaded freight cars per train mile
Average number of empty freight cars per train mile
Average number of all freight cars per train mile
Per cent of loaded car mileage to total car mileage
Per cent of empty car mileage to total car Mileage
Per cent of caboose car mileage to total car mileage
Passenger car miles
Average number of passenger cars per train mile
Special revenue service car miles
Non-revenue service car miles
39
Average cost of maintenance of way and structures per mile of first and other
main tracks
Average cost of repairs and renewals per locomotive per annum
Average cost of repairs and renewals per passenger train car per annum
Average cost of repairs and renewals per freight train car per annum
Transportation expenses per revenue train mile
Transportation expenses per locomotive mile in revenue service
Train and Locomotive Mileage-
Car Mileage-
•
8Iiscellaneous-
40
41
42
43
44
'Excludes mileage of locomotives with cabooses only, which is included in revenue freight train miles.
-8.27
+14.17
+19.31
+25.37
-4.47
-2.66
THE CHRONICLE
OCT. 16 1909.1
1007
TABLE NO. 16-REVIEW OF TRAFFIC.
Year ended June 30
1909.
Average miles of road operated
Passenger Traffic1 Number of revenue passengers carried
2 Number of revenue passengers carried one mile
3 Number of passengers carried one mile per mile of road
4 Average distance carried
5 Revenue from passengers
6 Average amount received from each passenger
7 Average receipts per passenger per mile
8 Passenger service train revenue
9 Passenger service train revenue per mile of road
10 Passenger service train revenue per train mile
11 Average number of passengers per train mile
28
Per
Cent.
4,547.41
4,420.46
+126.95
+2.87
22,666,383
591,733,048
130,125
26.11 miles
$10,865,358 98
47.936 cents
1.836 cents
*13,814,003 60
*3,037 77
*1.13
48
23,357,184
591,860,642
133,891
25.34 miles
$10,991,798 35
47.060 cents
1.857 cents
$13,534,933 59
$3,061 88
$1.13
50
-690,801
-127,594
-3,766
+.77 miles
-1126,439 37
+.876 cents
-.021 cents
+8279,070 01
-$24.11
-2.96
-.02
-2.81
+3.04
-1.15
+1.86
-1.13
+2.06
-.79
-2
-4.00
25,047,062
5.134,709
30,181,771
6,038,541,933
1,157,509,683
7,196,051,616
1,627,897
241.09 miles
$35,357,810 92
$1.41 166
.586 cents
$7,998 67
$2 06
351.71
419.13
-170,396
+57,481
-112,915
+4,254,849
+18,118,779
+22,373,628
-40,526
+1.82 miles
+8646,086 37
+80.03 564
4-.010 cents
-181 22
+$0 06
+3.39
+5.05
-.68
+1.12
-.37
+.07
+1.57
+.31
-2.49
+.75
+1.83
+2.52
+1.71
-1.02
+2.91
+.96
+1.20
407.46
22.33
+5.07
-.29
+1.24
-1.30
Freight Traffic (Way-bill Tonnage)Tons of revenue freight carried
24.876,666
Tons of company freight carried
5,192,190
Total tons carried
30,068,856
Tons of revenue freight carried one mile
6.042,796,782
Tons of company freight carried one mile
1,175.628,462
Total tons carried one mile
7,218,425,244
Tons carried one mile per mile of road-all freight
1,587,371
Average distance carried-revenue freight
242.91 miles
Receipts from revenue freight
$36,003,897 29
Average amount received for each ton
$1.44 730
Average revenue per ton per mile
.596 cents
Freight revenue pee mile of road
17,917 45
Freight revenue per revenue train mile
$2 12
Tons of revenue freight carried per revenue train mile
355.10
Tons of all freight carried per revenue train mile
424.18
Tons of all freight carried per revenue service locomotive mile, excluding switching mileage
412.53
Average tons of all freight carried per loaded car mile
22.04
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Increase (+)
or
Decrease (-).
1908.
TABLE NO. 18-MAINTENANCE OF WAY AND STRUCTURES, JULY 1 1899 TO JUNE 30 1909
MAINTENANCE OF WAY.
Average
Miles
Years
ended
of
June 301h. Road
Operated.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
Labor
on
Track.
Tons of
New
Rails.
Amount
Charged
to
Renewals
of Rails.
Amount
Charged
to
Renewals.
of Ties.
No.
of
Ties.
Repairs
of
Bridges.
Oilier
Items.
Total.
Expense
Mileage per mile
run by
of
Engines. Engines
3,845.4382,213,422 1834,613.761373,674 761.617,7591539,620 501858,391 51 $1031765 71 15.016,874 6633,711,198 14.88c.
4,214.92 2,259.774 7430,009.38 476,293 39 1,987,356 652,787 10 795,006 86, 983,411 89 5,167,273 9837,170,284 13.90c.
4,276.23 2,485,079 7725,016.00 274,030 641,832,429 588,697 29 657,328 871 919,431 53 4,924,568 10 35,293,290 13.95c.
4,292.98 2,452,529 9931,657.00 416,538 751,086,693, 385,405 14 624,522 281,258,962 31 5,137,958 4738,001,938 13.52e.
4,340.35 2,320,589 4824,037.00 300,659831,563.898 674,271 75 546,655 141,131,076 04 4,973,252 2439,254,261 12.67c.
4,373.91 2,141,306 4132,354.03i 457,143 711.014,801! 786,626 30 708,588 87 1.279.233 66 5,372,898 0537,313.307, 14.40c.
4,423.87 2,487,704 77 25,754.0 392,847 421,636,899, 743,861 60, 758,900 761,1110,007 57 5,993,322 1237,888,182: 15.82c.
4,370.77 2,657,023 6521,006.00 249.975 21 997,349 427,572 24, 877,978 23 1,486,239 07 5,699,788 4039,644,009 14.38c.
4,420.46 2,286,937 03130,411.00 298,595 181,748,7391 660,739 531 713,563 691,323,400 72 5,283,236 1137,478,3021 14.09c.
4,547.41 1,944,642 89112,346.00 153,866 271,385,320 959,777 691 685,134 33 1,375,600 48 5,119,021 6 38.837,383 13.90e.
Repairs
of
Fences.
Repairs
Oh
Buildings,
Water
Works
and
Telegraph.
Maintenance of
Way and
Structures per'
Mile
Operated.
$86,582 60,8465,239 5311,448 13
83,706 571 609,836 97 1,390 49.
73,103 771 651,971 32 1,321 17
78,164 151 693,073 13 1,376 48
71,904 99 634,153 63 1,308 49
76,052 01 646,146 22 1,393 51
84,321 79 777,520 17, 1,549 59
84,180 70 1067,480 6141 1,567 56
49,107 1011235.721 7 1,485 83
47.970 621029,288 31 1,362 60
TABLE NO. 19.-MAINTENANCE OF EQUIPMENT, JULY 1 1899 TO JUNE 30 1909.
REPAIRS AND RENEWALS.
Engines.
Passenger Cars.
Freight Cars.
Years ended
'i June 30th.
No.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
Amount.
No.
81311,405,014 93
891 1,567,527 70
9471 1,866.191 15
1003, 2,206,127 52
1086; 2,668,919 44
1158 2,560.422 38
1193 2,318,908 98
1240 2,630,853 63
1273 3,117,078 87
1267 3,508,602 51
Amount.
No.
Amount.
Maintenance ofEquipment
MainPer
Per
tenance
Per Passinger Freight
Shop
Engine
Car
Car
Machinery
Mile.
Mile.
Mile.
and
Tools.
Other
Equipment
Expenses,
Including
Superintendence.
Maintenance
Marine
Equipment.
Total.
Per Mile of
Road
Operated
(excluding
Marine
Equipment)
696 $279,859 453341011,690,936 954 17-100c 72-100c 46-100c$121,256 921169,322 66 $7,891 2913,675,182 25
725 357.520 5738960 2,083,544 29392-100c 69-100c 50-100c 143,755 76 201,961 05, 16,932 44 4,371,241 81
726 534,790 8242888 2,482,034 69529-100c 1 2-100c 61-100c 171.108 12 237,348 85 18,312 90, 5,309,786 53
753 566,182 77 52558 2,875,200 90581-100e 1 3-100c 64-100c 256,454 841 345,472 46 25,148 11, 6,274,586 60
787 541,821 29 55022 3,352,275 22680-100c 96-100c 73-100c 292,608 98' 418,216 98 49,501 22 7,323,343 13
802 610,583 9656529 3,874 257 456 86-100c 1 1-100c 85-100d 275,546 95 459.751 78 24,247 69 7.804,810 21
813 665,682 1158253 3,924,296 956 12-100c 1 12-100c 82-100d 319,598 02 469.873 75 6,668 35 7,705,028 16
859 665.583 47159977 5,460,190 646(14-100c 1 5-100c 1 1 ,-100c 350.097 34 480,858 11 8,42365 9,596,006 84
845 687,335 5862051 5,125,041 6718 32-100c 110-100c 1 05-100c 257,316 87 242.043
27,467 461 9,456,284 35
832 811.477 01 63080 6,401,463 6819 52-100c 1 26-100c 130-100c 254,421 20 285,065 90
53 26,596 251.11265,627 08
$953 681.' 33 07
1.2.47 42
1,455 73
1,675 87
1,778 86
1,740 19.
2,193 57 •
2,132 99
2,471 52
• Includes current depreciation on equipment.
NO. 21.-EQUIPMENT JUNE 30 1909.
Owned.
Total.
Locomotives
Passenger EquipmentPassenger and chair
Smoker and excursion
Cafe-dining
Dining and parlor
Parlor
Buffet-library
Baggage and smoker
Baggage and express
Baggage, mall and smoker_ _
Mall and express
Postal
Postal (jointly)
Special horse
Motor car
Business
Instruction
Pay
Test
Old coaches in freight service
Total
Freight EquipmentBox
Furniture
Stock
Fruit
Refrigerator
Flat
Coal
Tank __
Caboosb
Total
Illinois Central
Railroad.
Owned.
Subsidiary
Lines.
1,267
962
305
391
130
18
2
2
12
27
104
5
59
40
3
6
1
10
1
2
1
18
268
68
18
2
2
12
17
75
123
62
832
563
260
29,191
1,183
829
1,264
2,772
2,648
22,216
10
648
24,984
1,105
702
1,252
2,769
1,677
17,487
10
451
4,207
78
127
12
3
971
4,729
60,761
35
31
3
6
1
6
1
2
1
15
50,437
10
29
5
24
9
4
Total.
Work EquipmentBallast
Cinder
Construction and boarding....
Lidgerwood ballast unloader
Pile driver
Steam shovel
Derrick
Combina. pile driver & derrick
Coal hoist
Water cars
Hart ditcher
Scale cars
Snow excavator
Dirt leveler
American ditcher
Browning ditcher
Box car caboose
Total
Illinois Central
Railroad.
Subsidiary
Lines.
206
395
1,597
9
8
9
26
8
3
1
1
3
1
3
3
2
44
203
395
1,473
9
8
9
26
8
3
1
1
3
1
3
2
43
1
2,319
2,191
128
3
124
a
3
FLOATING EQUIPMENT,
River
Steamers
Number
197
Owned June 30 1908 __ _ _
10,324 -Owned June 30 1909 -
_Atilt
3
•
3
tal ;age
Tugs.
Barges.
Wharf
Boats.
Number
Number
Number
2
:,
a
12
12
1
1
[voL. Lxxxix.
THE CHRONICLE
1008
THE YAZOO & MISSISSIPPI VALLEY RAILROAD COMPANY.
TWENTY-EIGHTH ANNUAL REPORT-FOR THE YEAR ENDED JUNE 30 1909.
To the Board of Directors:
ended June 30
There is submitted herewith a statement of the operations and affairs of the company for the fiscal year
1909:
at the end of
There was no change during the year in the mileage of the railroad. The number of miles in operation
year.
previous
the
over
miles
73.01
increased
operated
miles
average
The
1,370.66.
the year was
INCOME FOR THE YEAR.
1908.
1909.
Increase (-I-) or
Decrease (-).
1,370.66
1,297.65
+73.01
$9,575,435 75
94,907 30
$9,493,400 03
87,233 98
+$82,035 72
+7,673 32
$9,670,343 05
364,914 32
$9,580,634 01
517,757 38
+$89,709 04
-152,843 06
$10,035,257 37
$10,098,391 39
-63,134 02
Operating expenses
Expenses other than operating expenses
$7,934,293 86
644,837 37
$7,769,908 79
889,522 55
+$164,385 07
-244,685 18
Gross expenses
Taxes
$8,579,131 23
436,943 65
$8,659,431 34
413,186 20
-$80,300 11
+23,757 45
$9,016,074 88
$9,072,617 54
-356,542 66
$1,019,182 40
1,750 00
$1,025,773 85
1,750 00
-$6,591 36
$1,020,932 49
3urplus for the year
es1,226,01026
Fixed charges and interest on not.
$205,077 77
-Deficit for year carried to profit and loss
$1,027.523 85
1,346,033 11
-$6,591 36
-120,022 85
$318,509 26
-$113,431 49
'
,verage miles operated during the year
Transportation revenue
Other operating revenue
Total operating revenues
income incident to operations
Gross operating income
Total expenses and taxes_ ...,
Net operating income
income from investments, dcc
from other
The decrease of $63,134 02 in the gross operating.income was principally due to the smaller amount received
cars.
freight
of
use
roads for the
and of
Operating expenses decreased $80,300 11. The increases of $140,741 12 in maintenance of way and structures
on expenses
transportati
in
65
of
$185,302
the
decreases
by
offset
than
more
were
of
equipment
in
maintenance
26
$220,701
and $245,487 37 in amount paid other companies for the use of their equipment.
the Mississippi Levee
Taxes increased $23,757 45, owing to an increase of $22,218, or 100% in Levee Privilege taxes in to
the City of Vicksto pay
District, and to $23,349 30 back taxes for years 1900 to 1908, inclusive, which we were required
Railroad Company of property
Central
Illinois
the
to
of
the
transfer
on
account
13
of
$24,627
decrease
a
was
There
burg.
in New Orleans and vicinity.
t bonds previous to the first
Fixed charges decreased $120,022 85, as a result of the retirement of Gold Improvemen
of the year, as mentioned in the report of last year.
Mortgage bonds
The deficit for the year was $205,077 77, exclusive of the payment of any interest on either the Second
or the Land Grant Income bonds of the Louisville New Orleans & Texas Railway Company.
paid on them
The mortgage given in 1886 to secure the Second Mortgage bonds provides that interest is only to beshall be cumuwhen it shall be earned, and so determined and declared by the Board of Directors, but that such interest
with interest on such
lative, and in case less than two and one-half per centum be paid in any half-year, the unpaid interest, bonds
for subsequent
unpaid interest at the rate of five per centum per annum shall be carried forward to the credit of the
payment as such net earnings shall suffice for, or at the maturity of the bonds. on these bonds to accumulate until the
The Louisville New Orleans & Texas Railway Company permitted the interest
Valley Railroad Company. Since then in
autumn of 1892, when that Company was merged in The Yazoo & Mississippi
1902 and 1903 payments ranging from
each of the fiscal years ended June 30 1893, 1894, 1895, 1896, 1897, 1898, 1901,
due and unpaid upon
$198,451 to $1,016,078 91 have been made on account of interest due thereon. The arrears of interest
these bonds amounted on June 30 1909 to $9,070,533 38.
Louisville New Or•No interest has ever been paid on any part of the $10,000,000 of Land Grant Income bonds of the
leans & Texas Railway Co.
RAILROAD AND EQUIPMENT.
The $375,687 63 expended for additions and betterments was added to cost of railroad and equipment.
FUNDED DEBT.
additions and
Additional Gold Improvement bonds and scrip amounting to $375,687 63 were issued in payment for
betterments.
INSURANCE FUND.
deducted therefrom $101,568 16. The balance in the fund at the end of
and
70
$91,863
the
fund
to
There was added
39.
the year is $122,324
ADVANCES ACCOUNT OF OTHER RAILROADS.
48, to cover
There was advanced to the Baton Rouge Hammond & Eastern Railroad Company during the year $27,303
the cost of additions and betterments on that road.
STANDARDS OF MAINTENANCE.
is included:
The policy of maintaining the property has been followed. In the following table main track only
Last Year.
This Year.
6,358 tons
4,461 tons
4,403 tons
7,466 tons
New rail laid
Re-rolled and relieved rail laid
11,869 tons
69.22 lbs.
13.28 years.
74 per cent
$1,490.17
$1,199 80
Total
Average weight (pounds per yard) of rail
Average age
Mileage ballasted at end of year
Cost of maintenance of way and structures per mile of road operated
Cost of maintenance of equipment per mile of road operated (excluding Marine Equipment)
10,810 tons
•67.77 lbs.
13.79 years.
65 per cent
$1,465.55
$1,110 45
The tables following show in detail the operations of the year.
Respectfully submitted,
J. T. HARAHAN,
President.
Chicago, September 14, 1909.
TABLE NO. 2-RAILROAD AND EQUIPMENT.
Cost of Railroad and Equipment July 1
Amount expended during the year, as shown in Table No. 7
Year ended
June 30 1909.
Year ended
June 30 1908.
$56,029,054 28
375,687 63
$66,657,160 66
1,035,601 71
$4,628,10638
659,914 08
$56,404,741 91
$61,692,762 37
$5,288,020 46
$56,404,741 91
$56,029,054 28
Less:
•Properties at. New Orleans, La.,and Memphis, Tenn., sold to the Illinois Central
Railroad Company
Total
Increase.
Decrease.
5,663;708 09
5,663,708 09
$375,687 63
OCT. 16
THE CHRONICLE
190b.1
1009
TABLE NO. 1-ASSETS AND LIABILITIES.
Table.
2
ASSETS.
Capital Assets.
Railroad and equipment
June 30 1909. June 30 1908. Table.
$56,404,741 91 $56,029,054 28
3
LIABILITIES.
June 30 1909. June 30 1908.
Capital Liabilities.
Capital Stock
Funded Debt
$6,168,400 00 $6,168,40000
49,111,43481 48,735,747 18
$56,404,741 91 $56,029,054 28
Current Assets.
Bills receivable
Due from agents
Individuals and companies
Material and supplies
$7,500 00
181,134 98
3,89609
958,791 52
$8,958 00
214,288 71
5,664 67
704,717 33
$1,151,322 59
$933,628 71
Deferred Assets.
Advances account other Railroads:
Memphis RR. Terminal Co
Baton Rouge Hammond & Eastern
RR
$120,000 00
$120,000 00
1,358,579 39
1,331,275 91
$55,279,834 81 $54,904,147 18
Current Liabilities.
Loans and bills payable
Traffic balances
Individuals and companies
Vouchers and pay-rolls
Miscellaneous
$122,324 39
50,000 00
$132,028 85
50,000 00
3,203,258 28
3,094,227 76
4
Contingent Liabilities.
Insurance Fund
Pension Fund
Replacement of Equipment Fund..__ _
Fund for auto. couplers and air brakes
Trustees of Land Grant Income Bond
Mortgage Fund
Balance to debit of Profit and Loss__
Total Assets
5
$55,581 271
$62,465,807 831 361,690,215 51
$236,093 34
$236,093 34
3236,093 34
$236,093 34
$122,324 39
50,000 00
450,472 16
19.885 21
$132,028 85
50,000 00
836,048 21
19,885 21
3,203,258 28
3,094,227 76
$3,845,940 04 $3,632,19003
$3,375,582 67. $3,276,256 61
5
$438,509 26
12,099 80
1,790,584 29
408,150 00
5,586 95
$3,103,939 64 $2,654,930 30
Deferred Liabilities.
Interest accrued on bonds to June 30..
$1,478,570 39 $1,451,275 91
Contingent Assets.
Assets in Insurance Fund
Assets in Pension Fund
Assets with Trustees of Land Grant
Income Bond Mortgage
$643,58703
9,601 82
2,134,483 90
312,059 22
4,20767
Balance to credit of Profit and Loss..
$262,854 66
Total Liabilities
$62,465,807 83 361,690,2158
TABLE NO. 5-PROFIT AND LOSS.
$30,292 96 Balance brought forward
49,463 02 Balance June 30 1909
33,602 18
205,077 77
Suspended claim account
Depreciation prior to July 1 1908 on equipment
Sundry adjustments
Balance from Table No. 6
$262,854 66
55,581 27
$318,435 93'
$318,435 93
TABLE NO. 6-INCOME ACCOUNT.
Operating expenses (Table No. 8)
Expenses other than operating expenses (Table No. 8) - - Taxes (Table No. 8)
$7,934,293 86 Operating revenue (Table No. 8)
644,837 37 Income incident to operations (Table No. 8)
436,943 65
Total expenses and taxes
Fixed ChargesInterest on First Mortgage Bonds$2,800,000(5%$140,000 00
Y. & M V
16,832,0004% 673,280 00
L. N. 0. & T
399,989 88
Interest on Gold Impr't Bonds
39,016,074 88 Interest on securities in pension fund
$9,670,343 05
364,914 32
$10,035,257 37
1,750 00
1,213,269 88 Balance to Profit and Loss
12,740 38
Interest on Demand Note
203,077 77
$10,242,085 14
110,242,085 14
TABLE NO. 7-ADDITIONS ANB BETTERMENTS, YEAR ENDED JUNE 30 1909.
Additions.
Betterments.
Total.
Right of way
$9,282 14
$9,282 14
Station grounds
25,5863025,58630
Widening cuts and fills
$18,190 38
18,190 38
Grade revisions and changes of line
12,019 15
12,019 15
Bridges, trestles and culverts
558 33
30,215 79
29,657 46
Increased weight of rail
56,558 18
56,558 18
Ballast15,716
22
15,716 22
Sidings and spur tracks
72.784197835
72,862 54
Fencing right of way
7,133 74
7,133 74
Interlocking apparatus
Cr.
138 50
Cr.
138 50
Telegraph and telephone lines
354 77
354 77
Station buildings and fixtures
4,307 25
27,508 03
23,200 78
Shops, enginehouses and turntables
Cr.
176 76
3,36 77
3,184 01
Shop machinery and tools
Cr. 3,568 90
Cr. 3,568 90
Water and fuel stations
6,27245
6,272 45
Dock and wharf property
-41,W7
45,697 09
Miscellaneous structures
175 83
175 88
New Lines-Yarbrough to Swan Lake
$100 00
Philipp to Charleston
40,634 06
Silver City to Kelso
8,789 77
Tutwiler to Ruleville
Cr. 242 28
Matson to Cinv,et Camp
Cr. 643 14
48,638 41
48,638 41
-65
1O.1A5 911
illtic AAA AA
Sft7K RA7 Ax
TABLE NO. 10-REVIEW OF TRAFFIC.
Year ended
June 30 1909.
Year ended
June 30 1908.
1,370.66
-
1,297.65
73.01
5.63
2,820,286
88,296,442
64,419
31.31 miles
$2,059,703 38
73.032 cents
2.333 cents
$2.428,36084
$1,771 67
,
$1 09
40
2,741,912
82,497,568
63,575
30.09 miles
$2,040,040 48
74.402 cents
2.473 cents
$2,384,507 07
$1,837 58
$1 10
38
78,374
5,798,874
844
1.22 miles
$19,662 90
2.86
7.03
1.3$
4.05
.96
1.84
5.66
1.84
3.59
.91
5.26
Freight Traffic.
(Way-bill Tonnage.)
Tons of r ;venue freight carried
4,898,203
'tons of c )mpany freight carried
840,630
Total ton , arried
5,738,833
__________________________________
Tons of r ;venue freight carded One mile
867,395,815
freight
carried one mile
Tons of c mpany
112,832,987
Total ton , carried one mile __ _ ___
080,228,802
Tons carr ed one mile per mile of road-all freight
715,151
Average d!stance carried-revenue freight
177.08 miles
Receipts from revenue freight.. _ _ __10,29964
Average a mount received for each ton -----------------------------------------$1.43 120
Average r 3vcnue per ton per mile
.808 cents
,.
35,114 54
Freight revenue per mile of road
12 46
Freight r venue per revenue train mile
304 18
Tons of re venue freight carried per revenue train mile
343.74
Tons of al1 freight carried per revenue train mile
Tons of all freight carried per revenue service locomotive mile, excluding switching m Eleige
339.29
28. Average t ms of all freight carried per loaded car mile
20.19
5,166,820
631,135
5,797,055
938,017,625
107.889,996
1,045,907,621
806,001
181.55 miles
$7,029.207 68
$1.36 45
.749 cents
$3,416 87
$2 36
314.31
350.47
Average miles of road operated
-Passenger Traffic.
1. Number 1 revenue passengers carrled
2. Number of revenue passengers carried one mile
3. Number f passengers carried one mile per mile of road
4. Average(!stance carried
5. Revenue from passengers
6. Average amount received from each passenger
7. Average receipts per passenger per mile
8. Passenger service train revenue
9. Passenger service train revenue per mile of road
10. Passenger service train revenue per train mile
11. Average n umber of passengers per train mile
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
344.73
21.23
Increase.
$41,1ki-3 77
Decrease.
1.370 cents
.140 cents
$65 89
$0.01
2
Per
Cent.
268,617
209,495
irA-1,615i
$0.07 75
.059 cents
$0.10
5.20
33.19
1.02
7.53
_
4.58
65,678.819 6.28
90,850
90.850 11.27
4;47 miles • 2.46
318,908 04
.27
5.20
7.88
$302 sp' ' 5.58
4.24
10.13
3.22
1.92
6.73
59,122
70,621,810
5.44
1.04
1.58
4.90
THE CHRONICLE
1010
[VoL. Lxxxix.
*
TABLE NO. 8-OPERATING INCOME AND EXPENSES.
Year ended
June 30 1909.
Year ended
June 30 1908.
$7,010,299 64
2,059,703 38
135,913 03
190,245 39
42,499 04
37,139 24
99,636 03
$7,029,207 68
2,040,040 48
131,731 45
180,712 20
32,022 94
30,333 60
49,351 68
$9,575,435 75
94,907 30
$9,493,400 03
87,233 98
$19,662 90
4,181 58
9,533 10
10,476 00
6,805 64 •
50,284 35
$82,035 72
7,673 32
Total Operating revenues
$9,670,343 05
$9,580,634 01
$89,709 04
Income incident to operations:
Rent of tracks and property
Hire of equipment
Sundry other items
$24,670 55
83,128 30
257,115 47
$59,693 03
177,434 30
280,630 05
$35,022 48
94,306 00
23,514 58
$364,914 32
$517,757 38
$152,843 06
$10,035,257 37
510,098,391 39
---
Decrease.
Increase.
INCOME.
.
Revenue from Transportation:
Freight
Passenger
Mall
Express
Other passenger train revenue
Switching
Miscellaneous
Total
Other Operating Revenues_
------------
Total
Gross operating income
EXPENSES.
.
structures:
Operating Expenses:
Maintenance of Way and
Supervision
Roadway and tracks
Signals and, interlocking plants
Structures
Miscellaneous
$18,908 04
$63,134 02
•
.
Total
$106,061 54
1,482,927 11
9,390 09
422,647 89
21,484 10
$98,476 69
1,292,209 53
14,491 22
480,013 25
16,578 92
$7,584 85
190,717 58
$2,042,510 73
$1,901,769 61
$140,741 12
$35,800 46
581,042 52
87,879 18
865,032 74
20,943 89
36,072 55
28,761 55
9,030 80
535,577 03
479,717 43
88,258 94
773,924 73
3,785 97
29,468 99
24,039 78
9,989 56
$223 43
101,325 09
$1,665,463 69
$1,444,762 43
$220,701 26
$190,835 77
5195,650 24
$165,336 33
490,508 92
1,245,693 94
692,236 23
454,985 19
22,592 72
594,546 48
82,311 88
$153,916 05
516,230 41
1,388,850 05
699,927 46
514,341 80
27,553 27
519,036 92
113,658 29
$3,748,211 69
$3,933,514 34
$26,603 86
91,204 19
11,229 81
73,500 08
60,366 77
3,460 25
314 03
20,592 99
523,406 92
94,801 24
11,496 99
78,751 67
60,131 84
3,880 00
327 47
21,406 14
Maintenance of equipmentSupervision
Locomotives
Passenger train cars
Freight train cars
Floating equipment
Work equipment
Shop Machinery and tools
Miscellaneous
.
Total
•
Traffic expenses
Transportation expenses:
Supervision
Passenger train expenses
Freight train expenses
Station expenses
Yard switching expenses
Telegraph and signals
Claims and damages
Miscellaneous
Total
General expenses:
Salaries and expenses of general officers
Salaries and expenses of clerks and attendants
General office supplies and expenses
Law expenses
InsurancePensions
Pension department expenses
Miscellaneous
Total
Total operating expenses
Expenses other than operating expenses:
Rent of tracks and property
Hire of equipment
Sundry other items
Total
Gross expenses (excluding taxes)
Taxes
Total expenses and taxes
Net operating income
$5,101 13
57,365 36
4,905 18
$379 76
91,108 01
17,157 92
6,603 56
4,721 77
58 76
$4,814 47
$11,420 28
.
525.721 49
143,156 11
7,691 23
59,356 70
4,960 55
75,509 56
31,346 41
5185,302 65
$3,196 04
$3,597 05
267 18
5,251 59
234 93
429 65
13 44
813 15
$6,940 19
$287,271 98
$294,212 17
57,934,203 86
$7,769,908 79
$164,385 07
342,521 02
385,471 99
216,844 36
519,650 68
630,959 36
238,912 51
$22,870 34
$245,487 37
22,068 15
$244,685 18
$644,83737
5889,522 55
$8,579,131 23
436,943 65
$8,659,431 34
413,186 20
59,016,074 88
$9,072,617 54
$56,542 66
$1,019,182 49
51,025.773 85
$6,591 36
$80,300 11
523,757 45
TABLE NO. 12.-MAINTENANCE OF WAY AND STRUCTURES, JULY 1 1899 TO JUNE 30 1909.
MAINTENANCE OF WAY.
•
Years
ended
June 30.
1900
1901
1902
1903
1904
1905
1906
?1907
1908
1909
Average
Miles
of
Road
Operated.
I Tons of
Labor on I New
Track. ' Rails.
1.000.68 3357,349 79
1,056.51 429,670 17
1,095.32 552.119 41
1,162.34 726,936 56
1,173.11 612,562 89
1.204.00 646.749 52
1,211.20 787,797 72
1,239.54 854,168 61
1,297.05 685,005 50,
1,370.66 654,947 36i
Amount
Charged
to
Renewals
of Rails.
No. of
Ties.
256.50 ;9.123 60
104.85 Cr.831 04
212.00 21,026 60
2,320.00 78,027 12
5,381.00 140,918 78
4,946.00 133.846 39
9,482.00 206,648 69
6,641.00 128,442 86
6,358 00 87,003 93
4,403.00 84,329 65
Amount
Charged
to
Renewals
of Ties.
Repairs
of
Bridges.
Other
Items.
426,363 3129.138 72 $185,627 74 $144,455 50
313,776 102,246 41 190,327 30 190,733 56
359,491 117,680 43 184,580 56 171,177 41
385,498 134,639 00 166,376 84 337,313 86
292,242 116,313 34 155.089 41 281,069 52
307,403 115,507 73 158,478 36 397.959 39
436,006 168,634 29 207,576 47 642,285 00
337,041 142,980 00 240.826 92 608,822 31
603,029 249,417 27 218,265 37 404,051 93
748,613 417,879 34 214,416 77 479,105 50
Total.
3825,695 35
912,146 40
1,046,584 41
1,443,293 38
1,305,953 94
1,452,541 39
2,012.942 17
1,075,040 70
1,643,744 00
1,850,678 62
Repairs
Mainteof
nance of
Exp'nse Repairs Buildings, Way and
Water
Strucof
Mileage per mile
Works tures per
run by Fences.
of
and
Mile
Engines. Engines
Telegraph. Operated.
4,435,564
4,844,561
4,590,749
5,540.739
5,579,720
6,017,308
5,856,780
6,380,084
6.556,696
6,134,530
19.49c $1,249 45 ;66,859 27
18.83c 5,830 27 65,578 44
22.80c 1.62999 90,965 01
26.05e 2,510 71 129,944 90
23.41c 2,177 24 120,290 73
24.14c
561 63 176,812 64
34.37c 1,35354 178,043 02
30.96c 10,498 13 236,007 70
25.07c 4,563 55 253,462 06
30.17c 2,853 40 188,978 71
5893 20
930 95
1.04004
1,355 67
1,217 63
1.35375
1,810,06
1,792 81
1.46555
1.490 17
TABLE NO. 13.-MAINTENANCE OF EQUIPMENT, JULY 1 1899 TO JUNE 30 1909.
REPAIRS AND RENEWALS,
Years
ended
June 30.
Engines.
No.
•
1900
, 1901
1902
1903
1904
1905
1906
1907
1908
11909
Amount.
!Passenger Cars.
No. Amount.
Freight Cars.
No.
Amount.
Per
Engine
Mile.
105 5130,051 05 76 $40,270 77 3286 $143.35390 3 7-100e
105 192,295 81 76 43,954 02 3299 219,38844 3 49-100c
106 227,488 44 79 83.948 32 3333 303.56856 4 96-100c
106 259,994 72 80 69.379 68 3333 373,332 67 4 69-100e
106 315,888 07 80 44,068 74 3333 447,78440 5 66-100c
106 332,118 90 82 57.419 09 3333 476,51346 5 52-100c
106 324,544 12 82 46,447 56 3333 585.415 10 5 54-100c
106 380.079 76 82 76.324 07 3333 797.91648 5 96-100c
106 479,717 43 80 88,258 94 2897 803,393 72 7 32-100c
106 581,042 52 79 87,879 18 2695 901,10529 9 47-100e
Per
Passenger
Car
Mile.
75-100c
67-100c
89-100c
91-100c
55-100c
65-100c
51-100c
76-100c
85-100c
81-100c
Per
Freight
Car
Mile.
MainteOther
nance
Equipment
MainteShop,
nance
Expenses,
Machinery Including
Marine
and
Superin- Equipment.
tendence.
Tools.
32-100c $15,33078 $27,781 83
44-100c 15.74886 29.417 64
58-100c 14,839 65 30,787 34
65-100c 21,51151 37,988 12
86-100c 27.88044 50,844 43
76-100c 18,440 17 50,065 69
91-100c 25,91089 53,114 47
1 10-100c 31,764 47 59,233 63
1 10-100c 24.03978 45,566 59
1 28-100c 28,76155 45,731 28
$756 33
936 00
2.188 74
1,700 13
2,782 98
6.184 04
2,213 65
8,005 26
3,785 97
20,943 89
MAINTENANCE OF
EQUIPMENT.
Total.
Per Mile of
Road Oper.
(excluding
Marine
Equip'1).
$357,544 64
501,740 57
642,921 05
763,906 83
889,228 54
940,741 35
1,037,645 79
1.353,323 65
1,444.762 43
1,665,463 69
$356 55
474 02
584 97
655 75
755 64
776 21
854 88
1,085 69
1,110 45
1,199 80
00T. 16 1909.]
THE CHRONICLE
1011
SOUTHERN RAILWAY COMPANY.
FIFTEENTH ANNUAL REPORT—FOR THE YEAR ENDED JUNE 30 1909.
Washington, D. C., October 8 1909.
in 1909 were at least $800,000 less than in 1908, and in neither
year were there any extraordinary losses. The saving was
To the Stockholders of the Southern Railway Company:
The Board of Directors submit the following report of the in the sum of small losses due to greater care in handling
freight and more efficient service.
affairs of the Company for the year ended June 30 1909:
It will be noted that the charges to expenses in the maintenance accounts show material reductions as compared with
INCOME STATEMENT.
1008, but the upkeep of the property has not been neglected.
The figures for 1908 contain comparatively large charges to
Increase (-I-) or
1909.
maintenance accounts during the last six months of the calen1908.
Decrease (—).
dar year 1907, before the campaign of retrenchment was
Miles of Road Operated,
7,170.36
Average
7,489.13
—318.77 begun, while the expenses for maintenance during the entire
fiscal year just ended have been controlled through monthly
Gross Operating Revenues_ $52,188,106 64452,941,716 51 —$753,609 87
Total Operating Expenses_ 35,568,980 601 39,854,722 13 —4,285,741 53 appropriations, under the policy which was inaugurated
during the first six months of the calendar year 1908. This
Net Operating Revenue_ _ _ $16,619,126 04813,086,994 38 +83,532,131 66
Outside Operations
136,963 391
+115,700 74 policy has been one of acute and careful scrutiny of all ex21,262 65
penditures for operating account. Money has been author1
Net Revenue
$16,756,089 43,813,108,257
03 +83,647,832 40 ized to be spent where
it was needed, and not necessarily
Taxes Accrued
1,916,701 65; 2,027,967 35
—111,265 70
where it would have been a gratification to spend it. It has
Operating Income
$14,839,387 78 811,080,289 68 +83,759,098 10 taken courage
to
maintain
this policy, but it is confidently
Other Income
2,898,311 70 2,766,676 86
+131,634 84
believed that the result has justified it. While some mainIncome
Gross
Total
$17,737,699 48 813,846,966 54 +83,890,732 94 tenance has been postponed
until increased revenues shall
Deductions from Total
warrant the expenditure, this has been only in respect of
Gross Income
$93,060,583 21 $3,134,341 81
—$73,758 60 those parts of the property where deliberate and expert
judgInterest on Funded Debt
ment justified postponement upon the real necessities of the
and Equipm't Obligat'ns 11,087,730 85 10,310,774 80
+776,056 05
case.
The
general
condition
of
the physical property at the
Total Deductions
$14,148,314 06 $13,445,116 61
+8703,197 45
close of the fiscal year was good, both actually and comparaBalance of Income over
tively,
and
the
plant
was
at all times during the year amply
Charges
$3,589,385 42
$401,849 93, +83,187,535 49 able to
carry the load which it had to bear. With the exAdditions and Betterments
78,285 181
—44,422 19
122,707 37
pectation of increased business, and consequently heavier
Balance carried to Credit
traffic, the appropriations for maintenance have been maof Profit and Loss_ _ _ _ $3,511,100 24
$279,142 56 +31,231,95768
terially increased, and so at all times the policy of the management has been one of elastic adjustment to the actual
A statement of the accounts of the Company, in the usual requirements
of the property, but with unremitting watchdetail, will be found in the tables hereto annexed.
fulness of the factors of safety and efficiency.
The accounts have been examined, as usual, by Certified
Attention is invited to the report of the Vice-President and
Public Accountants, Messrs.• Patterson, Teele & Dennis, General Manager,
hereto attached, for details of the results
and their certificate is niade a part of this report.
of operation.
THE OPERATING RESULTS.
THE CAPITAL ACCOUNT.
The return of business from the low level of the panic conWhat may be considered the immediate financial problem
ditions of 1907 was slow during the past year, but it was sub- of the Company has been the absorption of the several issues
stantial.
of short-term notes which were made to provide for the
While the operating revenues, as stated in the income traordinary capital obligations assumed during the periodexof
account, show an apparent decrease of $753,609 87, as com- great prosperity when, as explained in previous reports, the
pared with the year ended June 30 1908, this is due to the problem of management seemed to be entirely one of judifact that the revenues from operation of the Tennessee Cen- cious expansion. During this year the $16,000,000 of Coltral Railroad and the Southern Railway in Mississippi were lateral Trust 5% Bonds which were issued in 1904 matured
included last year and both these properties have been sepa- and were redeemed by the sale of Development and General
rately operated during this year. Comparing like with like, Mortgage Bonds which had been reserved for that purpose
the results of operation show increased operating revenues under the general plan of the mortgage. Later in the year
amounting to $606,766 46 for this fiscal year. The gross it became possible to sell more of such bonds on fair terms,
operating revenue per mile of road was $7,278 31 in 1909, or and advantage of the market was taken to provide for the
just about what it was in 1906, as compared with $7,228 in retirement also of the $15,000,000 Three-Year
Convertible
1908 and $7,507 49 in 1907, when the volume of the Com- 6% Notes, which were not due
1911. The proceeds of
pany's traffic was greatest. A just estimate of the improv- the Development Bonds which until
were pledged as security for
ing condition of the Company's business during this year can the 6% Notes were accordingly applied
to their redemption,
better be obtained by comparing the operating revenues for and the notes were called, a part of them
being paid off on
the first six months of the calendar years 1908 and 1909, May 1 1909 and the remainder will be paid off on Nov.
11909.
which show an increase of $2,326,107 20 for this year.
In this way $31,000,000 of temporary obligations of the ComAlthough the volume of business done was thus not un- pany were permanently funded, and while the funded
debt
satisfactory, the results of operation illustrated by the sub- was increased, the fixed charges of the Company
be
stantial increase of $3,786,893 56 in operating income, were decreased $96,680 per annum by these operations. will
A furobtained, it will be evident, by control of operating expenses. ther reduction in fixed charges has been effected by the acThe study and practice of operating efficiency, which quisition of a number of underlying 6% Bonds against the
were initiated in the winter and spring of 1908, as described issue of First Consolidated Mortgage 5% Bonds sold at a
in the last Annual Report, were vigorously pursued during premium. In this connection, the effect upon the capital
the year now under review, and with gratifying results. account and the fixed charges of the redemption of equipment
It will be noted that the operating ratio, excluding taxes, obligations to the extent of $3,090,103 73 during the year
was reduced from 74.79 in 1908 to 68.16 in 1909; or, to state is important.
the result differently, while operating revenues increased
1.18%, operating expenses decreased 7.80%. That the
CONSTRUCTION.
chief element in this result is efficient operating methods,
During
the
year
much
of the construction work which was
as illustrated by the fact that of the total decrease in operating expenses 55.70% was in transportation expenses, con- suspended in the summer of 1907 was resumed, and substantinues to be a ground of encouragement to the management. tial progress has been made towards the completion of some
What this progress is can perhaps best be realized by a few very desirable facilities. The principal work has been in the
statistics dealing comparatively with some operating units, provision of additional double track at the points where the
capacity of existing single track has been overtaxed, as was
viz.:
explained in detail in the Annual Report of 1907.
1908. 1909.
Of this work the revision of grade and double-tracking of
Total transportation costs per revenue train mile, in cents__ 62.66
60.75 the main line south from the terminal yard
at Monroe, VirRoad engine costs per road engine mile, excluding repairs,
ginia, across the James River, through the City of Lynchin cents
22.49
20.41
burg and thence across the Staunton River to Sycamore,
Train expenses per revenue train mile, in cents
9.93
9.21
Virginia, a total distance of 38.14 miles, shortening the old
Loaded cars per revenue freight train mile
13.46
15.19
Tons handled per revenue freight train mile
232.33 266.40 line 2.16 miles, is perhaps the most important. A portion of
this new double track from Durmid to Sycamore, 30 miles,
Particular attention has been paid during the past year has been in operation since April 30 1909; the remainder,
to removing the causes for loss and damage claims, which involving the construction of a notable viaduct over the
with all railroads are so heavy a tax on net revenue. That James River and a tunnel 1,300 feet in length under the
success in work of this kind means as much to the security of Lynchburg, is heavier work, but should be availableCity
for
holders as the establishment on the line of new traffic-pro- operation in the spring of 1910.
ducing industries of the largest capacity, is evidenced by
The throat through which the Knoxville and Atlanta lines,
the fact that the disbursements for loss and damage claims which converge at Ooltewah Junction, Tennessee.
reach the
1012
City of Chattanooga, is another piece of line where double
track has long been needed. The work on this 14 miles was
resumed during the year and is being pushed to completion.
Other pieces of•double track out of terminals are also under construction. viz.: 2.63 miles north out of Greensboro,
N. C., and 4.4 miles west out of Asheville, N. C.
Since the close of the fiscal year contracts have been let
for the construction of second track on the main • line in
North Carolina, from Spencer south to Glass, 18.70 miles,
and from Charlotte north to Harrisburg, 13.60 miles, and
,these works being comparatively light, should be completed
by Jan. 1 1910.
When the expected increase in the volume of traffic is
realized, with the return of business prosperity, the Company
will have in all 323.57 miles of double track at its "pinch"
points, and should be able to handle its business without
congestion or disturbance, largely by reason of the relief so
••
afforded.
During the year portions of the projected low-grade Little
Tennessee River line connecting Knoxville with the Carolinas, upon which work was begun several years ago, were
also completed and put in operation, viz,: 25.30 miles from
Maryville to Chilhowee, Tenn., which was constructed in the
name of the Tennessee & Carolina Southern Railway Company, and 13.90 miles from Bushnell to Fontana, N. C.,
which ,was constructed in the name of the Carolina & Tennessee Southern Railway Company. These lines are operated for 1°0.1 service, but it is not proposed immediately to
push the work through. The present construction policy
of the Company is to apply its capital resources to enlarging
the capacity and facilities of its existing lines, where a heavy
traffic is assured, rather than to exploit new territory or
hazard new lines.
Therefore, to fully appreciate the importance to the Company of cotton account should be taken also of its kindred
tonnage, as indicated by the following table:
Total
Tons.
7,190,263
3,818,411
2,075,270
1,980,661
Per Cent.
32.49
17.25
9.38
8.95
1,768,374
1,571,339
1,100,413
964,241
823,586
423,418
310,190
107,223
7.98
7.10
4.97
4.36
3.73
1.91
1.40
0.48
22,133.389
100.00
1,600,966
Total
or 7.23% of the total tonnage.
His worthy of note that the tonnage of merchandise traffic
exceeds the tonnage of cotton and its entire products and
that the combined tonnage of merchandise, manufactures
and miscellaneous articles, furnishing practically 17% of the
total tonnage, was exceeded only by tonnage of fuel and
forest products. These facts are more interesting when it isknown that the merchandise, manufactures and miscellane
ous articles produce the highest revenue results and are subject to the keenest competition.
More than 70% of this tonnage was produced in the South,
in the main on this Company's rails. No better evidence
could be had of the independent position of this property.
The tonnage increase per mile of road during 10 years
has been 42%, marking the development of productive energy and 'of territorial resources.
Nearly pne-third of the traffic was coal, originating chiefly
on the Coxnpany's lines.
Anothek third consisted of manufactured articles, ready
for immediate use, a substantial share of which was manufactured in the South from Southern raw materials.
The tonnage of lumber and logs embraced a great variety,
including mahogany, Spanish cedar and shittim wood.
Much of this tonnage found distribution in numerous woodworking establishments on the Company's lines, and was
converted into furniture, store fixtures and all the various
kinds of house-furnishing materials.
The year was a dull one for iron and steel. The tonnage
in pig and blooms was 100,528 tons less than ten years previously; that of iron and steel manufactures was 108,051
tons greater. Sixty per cent of the pig metal and all the
billets produced in the South are manufactured in that section.
The South is no longer a mere producer of raw materials.
Serving most of the cotton-producing States directly, and
the remainder of them indirectly, with its lines touching five
of the chief ports through which cotton passes to both foreign
and domestic markets, serving directly a substantial majority of the spinning enterprises of the South, this railway
is naturally a large(probably the largest) carrier of the South's
chief agricultural product—cotton. The Company handled
during the year 636,207 tons, or more than 2,500,000 bales,
of the fleecy staple, including the movement to various primary markets in the South and the subsequent movement
from these markets to points of consumption. Yet this important traffic constituted less than 3% of the total tonnage
for the year.
It is a fact not generally known that for each pound of
lint cotton produced there are approximately two pounds of
seed, the manufacture of which has become a Southern industry of great magnitude, affording a substantial freight
tonnage.
The textile industry in the South took 2,553,873 bales, or
over 18%, of the last cotton crop—to be spun and woven in
Southern factories. This Company handled during the year
61% of the manufactured product.
Tons.
636,207
244,563
238,244
122,511
29,627
329,814
Products—
Cotton
Cotton Seed
Cotton-Seed Hulls, Meal and Cake
Cotton-Seed 011
Cotton Bagging and Ties
Cotton Factory Products
CHARACTERISTICS OF FREIGHT TRAFFIC.
Freight traffic handled during the year, in the order of
its tonnage volume, may be grouped in the following
manner:
Commodity,—
Fuel—Coal,Coke and Charcoal
Forest Products—Lumber, &c
Stone, Cement, Brick, Sand and like materials_ _ _ _
Merchandise
Manufactures and Miscellaneous not otherwise
classified _
Cotton and all its products
Grain, Grain'Products'and Hay
Fertilizer
Iron, Steel and Machinery
Ores and Clays
Perishables
Petroleum _.,
[VOL. Lxxxrx.
THE CHRONICLE
-1.•••awita
INDUSTRIAL PROGRESS.
The industrial South has not been stagnant, despite the
business depression. On the lines of this Company there
were completed during the year. 453 new manufacturing
plants, classified as follows:
Brick Works
Cotton-Seed Oil Mills
Fertilizer Works
Flour and Feed Mills
Furniture Factories
Iron Industries
Lumber Mills
Total
40
11
7
25
18
23
67
Stone Quarries. Coal and °tiler
36
Mines
1
Tanneries
48
Textile Mills
18
Woodworking Plants_
159
Miscellaneous Planta_ _453
•
•
•
The number of industrial plants under construction'at the
close of the year was 66, and the number of additions made
to existing plants during the year aggregates 123.
There are now at least 10,000 manufacturing plants on the
lines of this Company. It is a very few years since there were
••
not that many in the entire South.
THE GREATER EFFICIENCY OF LABOR.
More than conventional acknowledgments are due by the
Board and the security holders to the officers and employees
of the Company for their work during the past year. Not
only have they been faithful in the discharge of their assigned duties, but they have been infused with ti,'new 'spirit
of enthusiasm in the interests of the Company, which are,
indeed, their own interests. Co-opefation 'between departments has been marked, while never before. has there been
such evidence of the loyally of employees in all ranks of the
service. This is the fruit of that greater efficiency of labor
upon which there cannot be laid too serious stress in estimating the results already obtained and the prospects for the
future.
Respectfully submitted, by order of the Board,
W. W. FINLEY,
President.1
PATTERSON, TEELE AND DENNIS.
Certified Public Accountants.
New York and Boston.
30 Broad Street, New York, September 1 1909.
Company:
To the Stockholders and Bondholders of the Southern Railway
of the Southern
We have made an examination of the books and accounts
June 30 1909. and have veriRailway Company for the fiscal year ending
Loss Accounts pubfied the Balance Sheet and Income and Profit and
lished herewith.
The amount charged to Capital Accounts for expenditures during the
year is, in our opinion, proper.
The securities owned have either been produced or we have attained certificates from the various Trustees or Depositories holding the securities.
The valuation of the equipment in the Balance Sheet Is fully borne out
by the rolling stock on hand and the provisions made for replacement.
The method of arriving at the valuation placed upon the material and
in
supplies on hand has been carefully examined, and the results reaehed
former inventories justify the present valuation.
the
The amounts duo to the Company from the various sources cited in
made
Balance Sheet are believed to be collectible, duo provision having been
in the reserves for such as arc of doubtful realization.
DeposiCash has either been counted or certificates obtalhed from the
tories.
reserves exist for
All known liabilities have been stated, and sufficient
such as have not yet been determined.
e of Way and
The charges against the year's income for the Maintenanc
sufficient for the
Structures and Equipment have been, in our opinion,
upkeep of the capital.
Respectfully submitted,
PATTERSON, TEELE & DENNIS,
Certified Public Accountants.
1 013
THE CHRONICLE
Our. 16 1909.
TABLE 1 -COMPARATIVE BALANCE SHEET, JUNE 30 1909 AND JUNE 30 1908.
June 30 1909.
ASSETS.
.Juno 30 1908.
COST OF ROADCost of Southern Railway Properties to June 30 1908
$293,856,032 96
Additions during the year
TOTAL COST OF ROAD
96
$293,856,C32
COST OF EQUIPMENTCost of Southern Railway Equipment to June 30 1908
529,637,600 62
Cost of Equipment charged to Capital during the year
29,637,600 62
$30,808,607 31
1,540,392 69
$293,856.032 Os
1.797,973 8
$295,654,006 85
$29,637,600 62
2,218,012 51
TOTAL COST OF EQUIPMENT
LEASEHOLD ESTATES
$30,808,607 31
Road _ _ --------------------------------------------------------------1,540,392 69
Equipment-
31.855,613 13
32.349,000 00
TOTAL LEASEHOLD ESTATES (Per Contra)
14,475,163 07
SOUTHERN RAILWAY TRUST EQUIPMENT (Per Contra)
05
$374,333,783
TOTAL COST OF ROAD, EQUIPMENT AND LEASEHOLD ESTATES
$373,407,900 38
COST OF SECURITIES PLEDGED OR HELD FOR SPECIAL PURPOSES97
$13,306,634
(see
Mortgage
Consolidated
First
7)
Table
Pledged under
$13,306,634 97
20,296.872 21
Pledged under Development and General Mortgage (see Table 8)
3,347,088 06
23.313.703 20
Pledged or deposited under various Indentures
61,238,702 65
05
10,774,697
Purposes
Unpledged, held for Special
7,640,925 05
67,691,907 43
85,533,350 73
Special Deposit with Financial Agent to redeem on November 1 1909 Convertible Six
11,105,000 00
Per Cent Notes, due May 1 1911
48
$453.130,690
AS
S
AND
STATED
HELD
SECURITIE
EQUIPMENT
OF
ROAD,
COST
11
$458,941,251
$3,995,255 50
MATERIAL AND SUPPLIES ON HAND (see Table 22)
$3,463,507 33
380,212 41
LEASED
FIXTURES
AND
RAIL
61
365,871
4,375,467 91
3,829,378 94
$457,506,158 39
$462,770,630 05 TOTAL CAPITAL ASSETS
4,015,569 88
1,044,921 24 MISCELLANEOUS SECURITIES OWNED-in Treasury Unpledged
595,479 68
1,403,970 68 BILLS RECEIVABLE-deferred but secured
925,622 31
COMPANIES
Y
SUBSIDIAR
04
TO
1,362,035
ADVANCES
473,572
80
160,531 63 INCOME ACCRUED-not due
712 65
377 45 INSURANCE PAID-not accrued
19
620,659
Contra)
(Per
519,361 00 INSURANCE FUND
500 00
500 00 SINKING FUNDS-Uninvested Balance in hands of Trustee
NET DISCOUNT ON SECURITIES SOLD-to be charged off prior to maturity of
7,797,910 85
1,991,375 09 the Security
1.534,968 75
1,590,552 29 SUNDRY ACCOUNTS
CURRENT ASSETS97
$11,124,664
Agents
Financial
and
Cash in hands of Treasurer, Banks
$3,470,694 25
1,117,014 74
Cash in Transit from Agencies
1,057,748 79
125,307 26
Due from United States Post Office Department
418,047 37
515,961 41
Due from Agents and Conductors
850,667 42
3,093,271 11
Due from Other Transportation Companies
2,807,765 79
966,652 53
Due from Individuals and Companies
1,013,044 65
583,064 56
Bills Receivable-current
194,582 35
824,300 00
Securities
Current
Miscellaneous
5,555,300 00
18,350,236 58
15,367,850 62
$491,821,390 88
S.
LIABILITIE
3486,212,105 09
CAPITAL STOCK$120.000,000 01
Common
$120,000,000 00
60,000,000 00
Preferred
60,000,000 00
$180.000.000 00
•
STOCK
CAPITAL
TOTAL
00
$180,000,000
5,670,20000
5,670,200 00 SOUTHERN BY. MOBILE & OHIO STOCK TRUST CERTIFICATES
234,002,400 00
228,701,000 00 FUNDED DEBT (see Table 5)
32,340,000 00
(Per Contra)
ESTATES
LEASEHOLD
ON
NG
SECURITIES
OUTSTANDI
00
32,349,000
EQUIPMENT OBLIGATIONS (Per Contra)Equipment Trust, Series B
170,000 00
$229,000 Of
Equipment Trust, Series C
687,000 00
$54,000 0'Equipment Trust, Series D
708,000 00
1,617,000 01
Equipment Trust, Series E
1,911,000 00
35,550 00
F
Series
Contract,
Equipment
120,870 00
125,400 00
Equipment Contract, Series G
313,500 00
2.700,000 00
H
Series
Trust,
Equipment
00
3,150,000
1,820,000 0'
Equipment Trust, Series K
2,100,000 00
7,200,000 0'
Equipment Trust, Series L
7,800,000 00
- $94,213 0
Contracts
Equipment
Miscellaneous
604,896 80
14,475,163 07
17,565,266 80
UNMATURED BALANCE OF PURCHASE PRICE, NORTHEASTERN RAIL107,000 00
GEORGIA
107,000 00 ROAD OF
6,113 71
6,36671 UNMATURED BALANCE ON HARTWELL, IND., BRANCH
78
$466.609,876
S
LIABILITIE
LIEN
AND
FUNDED
$464,398,833 51 TOTAL CAPITAL,
RESERVES$161.783 96
Structures
and
Way
of
Maintenance
For
$73,355 91
1,890,632 45
For Maintenance of Equipment
7
719,931 94
78.788 6
Miscellaneous
118,537 64
2,131,205 08
48
911,825
1,988,435 89
due
ot
1,744,230 98 INTEREST AND RENTALS ACCRUED-n
752,113 83
772,284 93 TAXES ACCRUED-not due
UNMATURED OBLIGATIONS FOR NEW STEEL RAIL, PAYABLE ON AND
990,940 21
500,987 53 AFTER JULY 1 1910
620,659 19
519,361 00 INSURANCE FUND (Per Contra)
265,472 15
ACCOUNTS
216,270 48 SUNDRY
CURRENT LIABILITIES0
$2,751.421
Interest and Rentals Due and Unpaid, including amount due July 1
$2,811,986 50
982,336 97
Bills Payable
1,176,370 43
100,955 2
Freight Claim Authorities Outstanding
121,540 82
1..825,752 6
,.
Pay-Rolis
June
including
Wages,
Unpaid
1,584,285 58
3
2,636,019
Audited Vouchers
3,288,637 32
852,008 9
Due Other Transportation Companies•
817,100 47
9,
288,914
Companies
and
Due Individuals
253,030 38
319,284 1,
Material and Supplies in Transit-not vouchered
172,822 78
1.743.986 71
adjustment
awaiting
Liabilities
Undetermined
1,101,345 70
11,500,679 96
11,357,125 98
6,962.007 81
5,791,185 22 PROFIT AND LOSS (see Table 4)
3491,821,390 88
1486,212,105 09
32,349,000 00
17,565,266 80
INCOME ACCOUNT.
OPERATING REVENUES AND EXPENSES.
The Operating Revenues and Expenses as shown for the
year ended June 30 1908 include Revenues and Expenses
incident to the operations of the Nashville Division (Tennessee Central Railroad) and those of the Mississippi Division
(Southern Railway in Mississippi) for the entire year, the
operations of which lines were discontinued by the Southern
Railway Company as of June 30 1908 and Dec. 31 1908,
respectively.
The Net Operating Revenue for year ended June 30 1909 was 316,619,126 04
The Net Operating Revenue for year ended June 30 1908 was 13,086,994 38
$3,532,131 66
Increase during the year
One year's interest on $300,000 Memphis Division
1st Mtg. 5% Bonds as against nine months
for previous year
Interest on $15,000,000 3-year Convertible Notes,
of which $3,895,000 were retired during the
year, as against various issues and dates during
the previous year
3776.956 05
Net increase
The increases during the year were due to:
Sale or exchange of:
$1,994,000 1st Cons. Mtg. 5% Bonds Mtg. 4,
;,
41,333,000 Development and General
Bonds, Series A
. , 5,000 Southern By., Mobile & Ohio Coll.
4% Bonds
559,696 25
357,152 78
200 00
704,662 67
As previously stated, the balance of
these notes has been called for redemption on Nov. 1 1909, and the amount
necessary to pay them off, derived
from the sale of some of the Development & Gen. Mtg. Bonds above mentioned, has been deposited with the
Trustee.
Total
INTEREST ON FUNDED DEBT AND EQUIPMENT OBLIGATIONS.
$11,087,730 85
Charges for the year ended June 30 1909 amounted to
10,310,774 80
Similar,charges for the previous year amounted to
3,750 00
_$1,125,46l 70
The Decreases during the year were as
follows:
Interest on Southern Ry. Coll. Trust
5-year Bonds, retired Apr, 1 1909_ _3200,00p 00
Interest on Divisional Prior Lien
32,28049
Bonds exchanged
Interest on Equipment Trust Obliga116,225 16
tions retired
Total
Net Increase as above
348,505 65
3776,950 03
1014
THE CHRONICLE
Lxxxix.
TABLE 2.-INCOME ACCOUNT FOR YEAR ENDED JUNE 30 1909, COMPARED WITH YEAR ENDED
JUNE 30 1908.
1908.
1909.
OPERATING REVENUES:
Freight
Passenger
Miscellaneous Passenger-Train Revenue
Mail
Express
Other Transportation Revenue
Other Revenue from Operation
$34,171,329 17
14,315,961 38
249,031 40
1,714,942 31
1,619,920 17
568,979 36
301,55272
$52,941,716 51
$7,109,173 22
9,138,378 02
1,300,232 93
20,773,252 97
1,533,684 99
39,854,722 13
$34,376,619 13
13,510,791 49
267,721 31
1,495,202 44
1,491,64368
758,344 00
287,784 59
TOTAL OPERATING REVENUES
OPERATING EXPENSES:
Maintenance of Way and Structures
Maintenance of Equipment
Traffic Expenses
Transportation Expenses
General Expenses
$52,188,106 64
$6,016,660 64
8,193,753 44
1,252,328 45
18,348,50708
1,757,730 99
TOTAL OPERATING EXPENSES
35,568,980 60
$13,086,994 38 NET OPERATING REVENUE
21,262 65 OUTSIDE OPERATIONS
$16,619,12604
136,963 39
$13,108,257 03 NET REVENUE
2,027,967 35 TAXES ACCRUED
$16,756,089 43
1,916,701 65
$11,080,289 68 OPERATING INCOME
OTHER INCOME:
$21,000 00
Rents Accrued from Lease of Road
182,220 71
Rents Accrued from Joint Tracks, Yards and Terminals
105,552 13
Miscellaneous Rents
2,127,269 75
Income from Investments
330,634 27
Miscellaneous Interest and Commissions
2,766,676 86
$1,351,860 25
717,751 45
121,10080
41,351 74
103,515 30
358,661 99
213,292 28
$14,839,387 78
$21,000 00
199,185 80
114,051 73
1,941,125 92
622,948 25
TOTAL OTHER INCOME
2,898,311 70
$13,846,966 54 TOTAL GROSS INCOME
DEDUCTIONS FROM TOTAL GROSS INCOME:
Rents Accrued for Lease of Other Roads (See Table 3)
Rents Accrued for Joint Tracks, Yards and Terminals
Hire of Equipment-Balance
Miscellaneous Rents
Separately Operated Properties
Discount on Bonds Sold-Proportion charged to Income
Dividends Accrued on Southern Railway, Mobile & Ohio Stock Trust Certificates..
Miscellaneous Deductions
3,134,341 81
$17,737,699 48
$1,351,504 00
769,094 52
19,493 39
45,714• 79
81,46371
535,214 44
226,80800
31,29036
TOTAL
3,060,583 21
$10,712,624 73 TOTAL AVAILABLE INCOME
13,310,774 80 INTEREST ON FUNDED DEBT AND EQUIPMENT OBLIGATIONS (See Table 3)_
$14,677,116 27
11,087,730 85
$401,849 93 BALANCE OF INCOME OVER CHARGES
122,707 37 ADDITIONS AND BETTERMENTS
$3,589,385 42
78,285 18
$279,142 56 BALANCE CARRIED TO CREDIT OF PROFIT AND LOSS FOR THE YEAR
$3,511,10024
TABLE 4.-PROFIT AND LOSS ACCOUNT FOR YEAR ENDED JUNE 30 1909.
Balance at Credit of this Account June 30 1908
Add-Credit Balance of Income for the Year
Net Miscellaneous Credits
$5,791,185 22
$3,511,100 24
846,222 35
4,357,322 59
$10,148,507 81
3,186,500 00
Deduct-Discount on Bonds charged to Profit and Loss during the year
redlt Balance June 30 1909
$6,962,007 81
TABLE 13.-TRAFFIC STATISTICS FOR YEARS ENDED JUNE 30 1909 AND 1908.
1909.
AVERAGE MILES OF ROAD OPERATED
PASSENGER TRAFFIC:
Number of Passengers Carried
Number of Passengers Carried One Mile
Average Distance Hauled per Passenger (Miles)
Total Revenue from Passengers
Average Receipts per Passenger per Mile (Cents)
Total Passenger-Train Revenue
Passenger-Train Revenue per Mile of Road
Passenger-Train Revenue per Train Mile
Average Number of Passengers in Each Train
•Average Number of Passengers in Each Car
FREIGHT TRAFFIC:
Revenue FreightNumber of Tons Carried
Number of Tons Carried One Mile
Average Distance Hauled per Ton (Miles)
Total Freight-Train Revenue
Average Receipts per Ton per Mile (Cents)
Freight-Train Revenue per Mlle of Road
Freight-Train Revenue per Train Mlle
Average Number of Tons of Freight in Each Train
Average Number of Tons of Freight in Each Loaded Car
All Freight (including Company's Material Hauled Free)Number of Tons Carried
Number of Tons Carried One Mile
Average Number of Tons of Freight in Each Train
Average Number of Tons of Freight in Each Loaded Car
TOTAL TRAFFIC AND OPERATING EXPENSES:
Passenger and Freight Train Revenue
Passenger and Freight Train Revenue per Mlle of Road
Gross Operating Revenue
Gross Operating Revenue per Mlle of Road
Gross Operating Revenue per Revenue Train Mile
Operating Expenses (Taxes Excluded)
Operating Expenses per Mile of Road
Operating Expenses per Revenue Train Mile
Net Operating Revenue
Net Operating Revenue per Mile of Road
Net Operating Revenue per Revenue Train Mlle
7,170.36
1908.
7,136.32
Percentage of
Inc. (+) or
Dec. (-).
+0.48%
14,977,980
622,561,542
41.57
$13,510,791.49
2.170
$16,765,358 92
$2,338 15
$1.15513
42.89
13.75
14,091,835
605,333,593
42.96
$13,887,899 83.
2.294
$17,397,162 40
$2,437 83
$1.11669
38.86
12.80
+3.44%
+10.37%
+7.42%
22,133,389
3,612,870,632
163.23
$34,376,619 13
0.952
$4,794 27
$2 05115
215.57
14.20
22,229,260
3,419,824,997
153.84
$33,325,759 08
0.974
$4,66988
$1 90212
195.19
14.50
--0.43 0
+5.64;
+6.10%
+3.15%
-2.26%
+2.66%
+7.83%
+10.44%
-2.07%
26,304,356
4,464,752,873
266.40
17.54
26,123,837
4,070,579,471
232.33
17.26
+0.69%
+9.68%
+14.66%
+1.62%
$51,141,978 05
$7,132 42
$52,188,10664
$7,278 31
$1.72801
$35,568,98060
$4,960 56
$1.17773
$16,619,126 04
$2,317 75
$0.55028
$50,722,921 48
$7,107 71
$51,581,340 18
$7,228 00
$1.61392
$38,579,411 09
$5,40607
$1.20711
$13,001,929 09
$1,821 93
$0.40681
+6.29%
+2.85%
-3.24%
-2.72%
-5.41%
-3.63%
+0.83%
+0.35%
+1.18%
+0.70%
+7.07%
-7.80%
-8.24%
-2.43%
+27.82%
+27.21%
+35.27%
• Includes Sleeping, Parlor and Observation Cars.
Washburn-Crosby Company,Minneapolis.-Stock Increase Eckhardt is advertised to take place at Austin, Tex., on
This Minnesota corporation filed amended articles of in- Dec. 7. Compare V. 89, p. 850, 668.
corporation on Oct. 3 increasing its capital stock from
Western Stone Co., Chicago.-Plan.-Of the $500,000
$3,600,000 to 156,000,0H00, pa- 46100.
bonds issued in 1889, the remaining $199,500 matured
An exchange paper says: "The increase is made necessary by the recent Oct. 1, and to meet the same the company has
issued $200,construction in Minneapolis of a concrete fire-proof grain elevator with a
capacity of 700,000 bushels, the erection of a new "model" mill and the 000 6% 5-year bonds for which the old bonds are to be
mprovement of the older Minneapolis mills."
exchanged.
-V.
86,
p.
112.
On the same day the St. Anthony & Dakota Elevator Co. increased
Western Union Telegraph Co.-New Directors.-Kingdon
its limit of stock or debt to $5,000,000; but whether the enterprises are
connected does not appear.-V. 85, p. 809.
Gould, Edward T. Jeffery and Alvin W. Krech have been
ro. Waters-Pierce Oil (30.-Sale of Texas Property.-The sale elected directors to succeed General Thomas T. Eckert,
of the company's property in Texas by ReceiverjRobert J. J. H. Hyde and the late E. H. Harriman.-V. 89, p. 850. 4
OCT. 16 1909.1
THE CHRONICLE
Westinghouse Air Brake Co.-Additional Directors.Henry C. Bughman, President of the Second National Bank
of Pittsburgh, Charles McKnight, President of the National
Bank of Western Pennsylvania and Horace E. Smith, of
Charles Smith & Sons of Philadelphia, have been added to
the board, increasing that body to nine members.-V. 89,
p.925, 777.
Westinghouse Electric & Manufacturing Co.-Listed.The New York Stock Exchange has listed.$2,720,000 10-year
5% collateral notes, due 191.7.-V. 89, p. 850, 415.
West Virginia Timber Co.-Guaranteed Bonds Offered.Otis & Hough, Cleveland, in September 1909 offered at par
and interest the entire authorized issue of $200,000 6%
"first and refunding mortgage" serial gold bonds (now a first
mortgage), guaranteed by endorsement, both as to principal
and interest, by the Advance Lumber .Co., Cleveland, 0.
Dated July 1 1909 and maturing $20,000 each six months
from April 1910 to Oct. 1914, both inclusive, and also subject
to call in numerical order at 101 for sinking fund in excess
of• said $20,000 half-yearly. Denominations $500 and
$1,00(c*). Principal and interest (A. & 0.) payable at
Guardian Savings & Trust Co., trustee, Cleveland, 0.
A circular says:
Began business in Jan. 1905. Net earnings up to June 1 1909 have
averaged $63,451 per annum, after deducting sinking fund charges and
interest due on bonds. Capital stock $300,000. (Incorporated in West
Virginia Jan. 1 1905.) Property, located in counties of Nicholas and Clay in
West Virginia, consists (1) of 10,000 acres of timber, which is mixed hard
wood-poplar, oak, chestnut and hemlock predominating-bass wood,
hickory, cucumber, birch, black walnut, sugar tree, buckeye, sycamore
and black gum; and (2) mills located on the Gauley branch of the Chesapeake & Ohio RR., at present a band mill, circular mill, dimension mill and
planing mill, all in operation, daily production about 50,000 feet of lumber:
(3) a railroad, main line 15 miles in length, with 5 or 6 miles of siding.
'Total resources of the company appraised at $827,505. Sinking fund: The
mortgage provides that $20,000 of the bonds shall mature and be paid every
six months, beginning April 1 1910. The company is compelled to pay
each month to the trustee $4 per 1,000 feet, board measure, of timber manufactured and loaded on cars for shipment.
-A.E.Fitkin & Co., investment bond dealers of 25 Broad
St., New York; 27 State St., Boston, and 435 Chestnut St.,
Philadelphia,are in the market this week,with a selected list
of investment securities for sale yielding to the investor an
income of from 4% to 5.55%. Their list includes first
mortgage bonds of railroads, electric railways, gas and
water-works and also a limited list of odd lots of bonds in
amounts ranging from $4,000 to $13,000, which will be
closed out at attractive prices. Full list of these securities
with particulars will be sent on application or by telephoning
the New York office of the firm, No. "560 Broad."
-An advertisement which will be of interest to those of
our readers who are seeking an investment which is characterized as an "exceptional combination of security and
yield" is the first mortgage 5% bond offering advertised
in to-day's issue by Francis Ralston Welsh, banker, 328
Chestnut St., Philadelphia. The nature of the property
on which these bonds are issued is outlined in the advertisement, and Mr. Welsh offers to give investors detailed information on application.
1015
Wht Tmuntertiat
COMMERCIAL EPITOME.
Friday Night, Oct. 15 1909.
The revival of trade in this country makes steady progress
in almost all of the great industries. It is reflected in sharp
gains in railroad earnings and bank clearings. Money
grows dearer as the demand for it increases with expanding
trade. The feeling continues everywhere hopeful. The
cotton crop is supposed to be smaller than that of last year,
but the price is over $20 a, bale higher than then.
LARD on the spot has been easier, owing to some decline
in live hogs at the West, a reaction in the speculative market
and sluggishness of trade. Prime Western 12.65c., Middle
Western 12.60c. and City 123@123c. Refined lard has
been dull but firm on light offerings. Refined Continent
13c., South America 13.80c. and Brazil, in kegs, 14c. The
speculation in lard futures at the West has been active, with
prices irregular. At times weakness has occurred, owing to
depression in live hogs,heaviness in the corn market, selling
by packers and scattered liquidation.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Sal.
Thurs. Fri.
Mon.
Tues,
Tired.
October delivery
1-2,15
12.17%
12.07.j-4
11.973 12.10
November delivery_ _ _ _11.75
11.77
Holl- 11.60
11.80 .
11.80
January delivery
10.85
10.9734_
10.873i day. 19.75
10.9
.5
PORK on the spot has advanced, owing to arise in the
speculative market at the West and small supplies. Trade
quiet. Mess $25 50@$26, clear $23@$26 and family $27.
Beef dull and steady; mess $11@$11 75, packet $12 50@$13,
family $13 75@$14 50 and extra India mess $20@$21.
Cut meats in moderate demand and firm. Pickled hams,
regular, 14 to 20 lbs., 12X(4)12
pickled bellies, clear,
2@15c.; pickled ribs, 8 to 12 lbs., 1334©14c.
8 to 12 lbs., 143/
Tallow has been quiet but firmer; stocks small; city 63iig
6c. Stearines have been quiet and firmer; oleo 16y2@
173'c.; lard 13@13Mc. Butter quiet; creamery extras 30@
303/
2c. Cheese fairly active and firmer; State, f. c., small or
large, fancy, 153/
2e. Eggs quiet; Western firsts 25@26c..
OIL:-Linseed has been stronger, owing to a rise in the
raw material. Trade has been active. City, raw, American
seed, 61(4)620.; boiled 6-2(4)63c.; Calcutta, raw, 75c. Cocoanut quiet and firmer; Cochin 9c.; Ceylon 8c. Olive quiet
at 85c.@$1 40. Peanut quiet; yellow 65@70c. Cod has
been fairly active and firm; domestic 38c.; Newfoundland
40c.
COFFEE on the spot has been more active and firmer;
Rio No. 7, 7%@)8c.; Santos No. 4, 8%@83
/0. West India
'growths have been in good demand and firm; fair to good
Cucuta 9©10c. The speculation in future contracts has been
more active, and despite some irregularity the tendency of
prices has been upward, owing to strong cables from Europe,
active buying at times by prominent local concerns, purchases for European account, an increased demand on the
spot and reports that Europe has been buying heavily in the
primary Brazilian markets.
Closing prices were as follows:
-Messrs. Wm. A. Read & Co., bankers, are offering on October
5.85c. February
6.05c. June
6.15c.
6.10c. July
another page a choice list of investment securities, con- November
5.90c. March
6.20c.
5.95c. April
6.20c.
December
6.10c. August
sisting of municipal, railroad and public service bonds. Sev- January
6.00c. May
6.25c.
6.15c. September
eral of the issues offered are legal for savings banks in New
Cenmore
firmer.
-Raw
has
been
active
and
SUGAR.
York, Massachusetts and Connecticut. Full details will be
furnished upon application, either at the New York office, trifugal, 96-degrees test, 4.30c.; muscovado,89-degrees test,
25 Nassau Street, or at the firm's branch office in Boston, 3.80c.; molasses, 89-degrees test, 3.55c. Refined has been
firm, with an increased demand; granulated 4.95@5.05c.._
Baltimore and Chicago.
Teas have been firm but less active. Spices have been active
-Deghuee's "Tables of Bond Values" is a standard work and firm. Wool has been strong but less active. Hops_
in general use in this country with banks and bankers, trust have been quiet and firm.
PETROLEUM.-Refined has been firm, with an increased
companies and life insurance companies. Attention is
called to the advertisement on another page describing the trade due to colder weather of late. Export trade has been
several editions:of the book and the prices. For complimentary active. Barrels 8.25c., bulk 4.75c. and cases 10.65c. Gasopresentation the book is one that would be valued by recipi- line has been firm and moderately active; 86 degrees, in 100ents, and for this purpose it may be had in quantities at gallon drums, 18Y
4c.; drums $7 50 extra. Naphtha has
been fairly active and firm; 73@76 degrees, in 100-gallon special rates.
drums, 163A,c.; drums $7 50 extra. Spirits of turpentine
-The Philadelphia bankers and brokers, Penington, Col- has been fairly active and firm at 61@61
Rosin has
ket & Co., have recently established an office in New York been firm; common to good strained, $4 25.
city in the U. S. Realty Bldg., 115 Broadway. W. HeyTOBACCO.-The general situation in the local market for
ward Drayton 3d is the resident partner in charge of the
new branch. The firm has membership in the New York domestic leaf has shown no essential change during the
and Philadelphia Stock Exchanges and has offices at 608 week. Trade has been quiet. There is a general belief,
however, that, with cigar manufacturers doing a large busiChestnut St. and 1430 So. Penn Square, Philadelphia.
ness, the demand for leaf is certain to improve materially
-Chisholm & Chapman of 18 Wall St. announce that sooner or later. Prices have ruled firm. Havana has been
they have opened a Boston office at 75 Stale St. under the quiet and firm. Another hurricane has swept over Cuba
management of Mr. Joshua Hale, where they will be pre- during the week, injuring some of the seed beds, and, accordpared to execute orders in s tocks and bonds in either the ing to late reports, destroying seven factories. Sumatra
New York or Boston markets.
has been moderately active and firm.
COPPER has been dull and easier. Stocks are large and
-Pfaelzer & Co.,25 Broad Street, have issued a circular
/
1 @12Nc., electrolytic 123@12/
58c.
quoting 600 traction, industrial and power bonds. The increasing. Lake 123
casting 123Ac. Lead has been quiet and firm at 4.30@
circular is an especially useful one, as it covers a class of and
quiet
and
firmer at 6©6.10c. Tin
Spelter has been
securities for many of which quotations are not readily 4.37c.
has been quiet and steady at 30.40c. for spot pig. Iron has
obtainable. . Copies of the circular may be had on request.
been firm. In the local market new business has fallen off
-The 1909 edition of the Manual of Northeastern Penn- somewhat, but some large tonnages are still under negotiasylvania Securities, published by Brooks & Co., bankers, tion. Some of the large steel manufacturers have placed
Scranton, Pa., has been issued in the usual clear and attract- large orders for pig iron, and there are indications that carive style. The firm specializes in all northeastern Pennsyl- builders will soon be in the market for considerable supplies.
vania securities.
No. 1 Northern $18 50@$19, No. 2 Southern $19 25.
THE CHRONICLE
1016
[VoL.Lxxxix.
COTTON.
On Shipboard, Not Cleared for-
Friday Night, October 15 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
442,783 bales, against 418,615 bales last week and 378,898
bales the previous week, making the total receipts since
Sept. 1 1909 1,955,011 bales, against 1,734,833 bales
for the same period of 1908, showing an increase since
Sept. 1 1909 of 221,078 bales.
Receipts at-
Sat.
Mon.
Galveston
22,715
Port Arthur_
Corp.Christi, Boo.
New Orleans
9,207
Gulfport
Mobile
1,706
Pensacola
Jacksonville, doe.
Savannah
18,i1i
3,500
Brunswick
Charleston
2,3'71
Georgetown
Wilmington
3,5775
Norfolk
8,4,11
Newport N., &c_
New York
Boston
Baltimore
50
Philadelphia
-Totals this week_ 67,627
Tues.
Wed.
Thurs.
Fri.
Total.
22,656 45,536 20,378 15,947 14,076 141,308
1,629
1,629
8,641 11,-544 12,561 9-,201 6,992 58,059
3,434 3,289 3,1'71 2,072 2",gH 16,497
9,500
9,500
322 1,301
1;556 3,013
19,571 23,353 15,735 14,914 18,917 110,724
18,300 21,800
2,148 3-,126 2,783 18,010
3-,iiii 3-...zi
100
100
9,515 3,961 :1,632 3,628 5,361 24,530
6,093 8,166 4,699 4,160 6,056 35,585
176
176
-5-6 ---- -4-3
98
- -15 ____ -56
51
1,628
1,628
____
25
- --_
75
89,168 101,064 62,139 62,591 80,194 442,783
The following shows the week's total receipts, the total
since Sept. 1 1909, and the stocks to-night, compared with
last year:
1909.
Receipts to
October 15.
1908.
Stock.
This Since Sep This Since Sep
Week. 1 1909. Week. I 11908.
1909.
1908.
141,308 688,375 139,4311 678,937 242,143 133,004
Galveston
__
7,047
Po.t Arthur
8,179
Corp. Christi, &o. 1,1329
249
3,620
58,059 173,257 64,178 206,619 93,762 106,443
Now Orleans
Gulfport
16,497 60,812 15,631 68,577 31,569 38,140
Mobile
9,500 13,510
100
Pensacola
9,388
4,702 1,398
5,476
Jacksonville, Boo_ 3,013
110,724 551,148 81,752 944,126 167,545 135,960
Savannah
21,800 87,324 4,218, 41,719 17,265
Brunswick
6,225
18,010 96,285 10,886 62,544 37,818 38,196
Charleston
59
50.
100
225
Georgetown
24,530 137,288 28,211 121,583 39,921 25,560
Wilmington
35,585 121,690 22,579 85,917 31,774 21,894
Norfolk
1,500
178
176
1,176
Newport N., &O.
54 73,011 56,857
904 ____
New York
98
981
1,991
3,028
163
491
51
Boston
3,954
3,939
1,894
3,261 1,739
1,628
Baltimore
279
3,096
1,937
257 ____
75
Philadelphia
442,783 1,955,911 370,763 1,734,833 743,832 567,138
Total
In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
1909.
1908.
1907.
1906.
Receipts at1905.
1904.
Galveston _ _ 141,308 139,431 51,087 150,900 124,800 110,318
1,629
249
394
447
6,927
1,984
Pt.Arthur.
New Orleans_ 08,050 64,178 37,744 62,942 44,384 95,632
16,497
15,631
13,939
8,833
11,487
13,045
Mobile
Savannah _ _ 110,724 81,752 82,800 73,728 71,935 81,526
5,873
21,800
4,218
4,386
8,183
7,188
Brunswick _
10,936
14,107
9,121
18,110
8,042
11,791
Charleston,4
Wilmington_ _ 24,530 28,211 30,159 31,968 14,706 27,095
35,585
22,579
22,899
26,872
29,240
35,460
Norfolk
176
178
247
123
N'pert N., &C
197
468
14.365
3.400
10,111
851
1,928
All others__ _
9,132
Total this wk_ 442,783 370,783 267,873 371,658 321,919 393,839
Since Sept. 1_ 1,955,911 1,734,833 1,248,451 1,703,733 1,935,303 2,250,891
The exports for the week ending this evening reach a total
of 237,524 bales, of which 86,407 were to Great Britain,
48,806 to France and 102,311 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1909:
Week ending Oct. 15 1909.
Exported toExpor1.5
from-
Galveston _
Port Arthur__
Corp.Chris.dco
New Orleans .._
Mobile
Pensacola ...._
_
Gulfport
Savannah _
Brunswick_
Charleston_ __ _
Wilmington
Norfolk
Newport New
New York____
Boston
Baltimore _
Philadelphia
Portland, Me_ _
San Francisco_
Seattle
Tacoma
Portland, Ore
Pembina
Detroit
Total
Total 1908_
From Sept. 11900 to Oct. 15 1909.
Exported to-
ContiGreat
Great
Britain. Fence. nent. Total. Britain. France
16,17
32,681 72,600
19,522.
9.60
11,351
1,074 28,113
10,522
9,500
36.552 63,106
10,171 10,171
4,620
11,836 11,836
4,669
250
1,730
2,498
85
10,205
4,818
3,430
7,753
850
Continent.
Total.
124,853 128,433
197,758 449.044
1,000 6,047 7,047
2,447 2,447
29,193 110,543
57,078 24,272
4,146 19,681
23,827
4,010 9,50
13,510
64,619 47,248 143,488 255,355
26,319
38,221 64,540
33,147 44,987
11,820
48,043 96,081
50,038
3
32
38,607 6,408
41,109
86,124
6,089
33,914
40,030
7,294
4,029 , 502
11,825
7,364
5,497
12,581
4,10
4,100
648
648
Great
at-Britain. France
15
New Orleans_ _
Galveston _ _
Savannah ___ _
Charleston_ _ _ _
Mobile
Norfolk
New York_ _
Other ports.. _
Total 1909..
Total 1908..
Total 1907..
October
2,502
51,863
8,972
1,555
2,500
3,000
20,000
90,172
46,405
45,560
7,155 2,803
47,052 38,302
11,587
8,000
1,900
-WOO 1.666
1,000 18,000
-.56,007 81,392
37,856 64,395
15,749 55,912
426,814 235,044
410,505 154,339
561,113 1,222,971
4,765
7,768
3,671
2,500
3,000
21,704
34,614
22,473
Middling uplands
577,426 1,142,370
Leaving
Stock.
213 17,238
3,021 148,006
1,700 25,930
2,000 10,000
1,300 4,535
25,421 27,931
7,300
42,000
33,665 282,940
30,425 213,695
29,548 169,242
76,524
94,137
141,615
27,816
27,034
3,843
65,711
24,212
460,892
353,443
407,433
13.60
13.65
NEW YORK QUOTATIONS FOR 32 YEARS.
8.56 893..c
1909_c
13.90 1901-0
10.25 1892
1908
9.20 1000
7.25 1801
1907
11.75 1899
10.31 1882
5.38 1890
11.40 1898
1906
10.56 1881
6.31 1880
1905
10.10 1897
7.94 1888
9.68 1880
10.35 1896
1904
0.38 1887
0.50 1879
9.80 1895
1903
6.00 1886
9.31 1878
8.15 1894
1902
MARKET AND SALES AT NEW YORK.
::138 lggl
Futures
Market
Closed.
Saturday_ _ Quiet 5 pts adv ____ Steady
Monday_ __ Quiet 5 pts adv _ _ Steady
I HOLIDAY.
Tuesday _ _
20 pts adv ___ Firm
Wednesday
In addition to above exports, our telegrams to-night also Thursday _ Quiet
- Steady
Quiet 10 pts adv
give 'us the following amounts of cotton on shipboard, not Friday- _ _- Quiet 5 pts dee -_-- Easy
cleared, at the ports named. We add similar figures for EWAN
,Total
New York.
21,307 148.333263,181
Total.
Speculation in cotton for future delivery has been active
at rising prices. Killing frost on Oct. 12 and 13 in half a
dozen of the Southern States largely accounts for this. It
occurred in Oklahoma, Tennessee and Mississippi, and also
in Alabama, Arkansas and Georgia, and, according to some
reports, in the Carolinas. Frost of less severity has also
been reported in Texas and Louisiana. There were official
temperatures in the Memphis district as low as 28 to 30 degrees. On the 13th inst. rains in Alabama ranging from
1.70 inches to 2.67 Indies were officially reported. They
were considered bad. In addition to bad weather, there has
been a big increase, according to many advices, in the demand for spot cotton. Apparently this has come partly
Heretofore Northern spinners
from New England mills.
have in very many cases held aloof, owing to the disparity
between the price of raw material and that for the manufactured product. Latterbi, however, print cloths and
other goods have risen. Cotton yarns have been stronger
and wool very firm. Talk Of curtailment of production,
especially in the South, continues. The answer of bull •
speculators is that from present appearances the crop is so
short that curtailment will be compulsory. Meantime
exports are large, and some reports from the South are
to the effect that receipts at small points and some of
It
the larger ones are beginning to decrease.
ginneries
are beginning to close.
is said that
sales
after
a
lull
again
increased to
Liverpool's spot
liberal proportions. Crop estimates, which at one time,
under the influence of very large arrivals at the ports and
interior towns, showed a tendency to increase, have latterly
been reduced somewhat in some quarters. Chicago, New
Orleans and Memphis operators have been liberal buyers.
James A. Patten and other Western operators are still supposed to be identified with the bull side. Wall Street houses
have also bought on a liberal scale. The tendency of the
speculation has been to broaden under the influence of killing
frost news, large exports to Europe, reports of an increased
domestic demand and, finally, the fact that strenuous efforts
to permanently depress the market during the last two
months have proved futile. Spot markets have risen.
Liverpool advices have at times been somewhat disappointing
under the influence of heavy realizing sales on both sides of
the water, and also owing, to some extent,to an advance in
the Bank of England's rate of discount to 4%. Those who
take the optimistic view of things, however, insist that the
rise in money at home and abroad merely means an expansion of business with the return of better times. In dull
times money is apt, they argue, to be cheap: Hedge selling
by the South has continued and Liverpool at times has sold
heavily in undoing straddles. It liquidated some '40,000
bales on Thursday ill this way. The local stock is steadily
increasing. To-day prices opened lower on disappointing
cables, but quickly rallied and advanced on heavy rains in
the Carolinas, Georgia and Tennessee, predictions of frosts
east of the Mississippi, strong spot markets and bull support.
Later a small net decline occurred on scattered liquidation.
Spot cotton has been quiet. Middling upland closed at
13.90c., an advance for the week of 35 points.
The rates on and off middling, as established Nov. 18 1908
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
tinged.c_ Even
Fair
c Basis Good mid.
c 1 50 on Middling
mid. tinged_0.15 off
Strict mid. fair_._.i.30 on Strict low. mid_ -0.25 off Strict
0.75 off Midoihnt tinged__ _0.25 off
Middling fair
1.10 on Low middling
off strict low mid.ting_0.75 off
Strict good mid_..0.66 on Strict good ord_1.20 off
Low mid, tinged....1.75 off
Good middling___0.44 on Good ordinary. .2.00
Strict middling____0.22 on Strict g'd mid. tgd_O 3500 Middling stained__ _1.00 oft
cotton in the
upland
middling
The official quotation for
New York market each day for the past week has been:
13.
e8
d.
3 Tiliau9
r5
s. 1F
3r91.0
Sat. Mon. Tues. W
Oct. 9 to Oct. 15-
Spot Market
Closed.
102,311237,524
GerOther Coastmany. Foreign wise.
9.81
9.94
1101..5802
1111..5180
10.50
10.19
Sales of Spot and Contract.
Con- ConSpot. sum'n. tract.
500
Total.
-, 500
4,400
100
4,165 1,100
1,0003,800 3,800
2,600 2,600
600
---- 11,800 12,400
1017
THE CHRONICLE
Coon. 16 1909.j
AT THE INTERIOR TOWNS the movement-that is,
FUTURES.-The highest, lowest and closing prices at
the receipts for the week and since Sept. 1, the shipments
New York the past week have been as follows:
for the week and the stocks to-night, and the same items for
.4
b
the corresponding period for the previous year-is set out
;;
4
„
a 'c.
)
(..4,•!aozoz.ogc4Jog*-0.n.R1,2•
in detail below.
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601:
6
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4.71 1.'g '
gill
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1
51
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0
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Movement to October 16 1908.
6
.
0
00
W.
*OW
ow
49QOPO 01
C4I
Cs A
wo
WO
•6081 Q1
ON
W.
THE VISIBLE SUPPLY OF COTTON to-night, as made
.0
01 .
N
W
up by cable and telegraph, is as follows. Foreign stocks,
6bw6
1.4067
crob4
,
7
.4 66:46o
'
oo..woo0,..owo.
N
as well as the afloat, are this week's returns, and conse0 0M0..40C400000....000..0W0.N050..4W.N=-4I
quently all foreign figures are brought down to Thursday
The above totals show that the interior stocks have inevening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the United creased during the week 79,522 bales and are to-night 52,495
bales less than at the same time last year. The receipts
States, including in it the exports of Friday only.
at all the towns have been 1,101 bales more than the same
October 151908.
1909.
1907.
1906.
Stock at Liverpool
320,000
bales. 602,000
239,000 week last year.
563,000
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
12,000
35,000
12,000
24,000
24,000
42,000
16,000
22,000
649,000
11,000
92,000
149,000
2,000
9,000
8,000
3,000
356,000
20,000
78,000
51,000
4,000
14,000
12,000
10,000
629,000
18,000
81,000
86,000
4,000
11,000
19,000
34,000
277,000
22,600
38,000
26,000
4,000
4,000
15,000
1,000
4
Total Continental stocks
Total Huropean stocks
India cotton afloat for Europe
Amer. cotton afloat for Europe
Egypt,Brazil,&c.,allt.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
273,000
189,000
253,000
110,000
922,000
320,000
779,584
38,000
84,000
101,000
743,832
401,231
36,409
545,000
46,000
769,828
27,000
79,000
206,000
567,138
453,726
28,600
882,000
52,000
469,600
58,000
81,000
340,000
576,675
292,930
24,379
387.000
53,000
611,625
54,000
88,000
416.000
690.350
291,529
41,585
3,138,056 2,722,292 2,806,584 2,633,089
Total visible supply
Of the above, totals of American and other descriptions are as follows:
Americanbales. 522,000
216,000
Liverpool stock
471,000
173,000
27,000
16,000
Manchester stock
34,000
18,000
245,000
126,000
157,000
Continental stock
59,000
779,584
769,828
469,600
American afloat for Europe
611,625
U. S port stocks
567,138
743,832
566,675
600,350
IJ. S. Interior stocks
401.231
453,726
292,930
291,529
U. S. exports to-day
36,409
28,600
24,379
41,585
Total American
. East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brasil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
2,755,056 2,177,292 2,025,584 1,885,089
80,000
12,000
8,000
28,000
32,000
38,000
04,000
101,000
104,000
12,000
8,000
63,000
46,000
27,000
79,000
206,000
92,000
24,000
8,000
96,000
82,000
58,000
81,000
340,000
66,000
16,000
4,000
51,000
53.000
54,000
88,000
416,000
383,000
781,000
545,000
748,000
2,755,056 2,177,292 2,025,584 1,885.089
Total visible supply
3,138,056 2,722,292 2,806,584 2,633.089
Middling Upland, Liverpool
7.4 Id.
6.54d.
6.33d,
4.99d,
Middlinz Uplan I, New York_ 13.00c.
11.75c.
11.50c.
9.30c.
Egypt, Gool Brown, Liverpool
105,5d.
10 :tid.
81/,d.
10'
,W.
Peruvian, Rough Good, Liverpool
8.75(1.
12.00(1.
8.50d.
8.15(1.
Broach, Pine, Livernool
6 13-16(1. 4 13-16d. 5 15-16d.
5 Yi d.
Tinnevelly, Good, Liverpool
6;id. 4 11-16d.
5'/
8d.
55d.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.-We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for the
week and since Sept. 1 in the last two years are as follows:
October 15S/zippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, dee
Total gross overland
Deduct shipmentsOverland to N. Y.. Boston, &c
Between interior towns
Inland, &c., from South
Total to be deducted
Leaving total net overland •
----- 1909-Since
Week. Sept. 1.
17,069
8,966
7,727
4,661
217
629
5,981
2,516
1,880
1,053
1,582
4,671
2.162
7,404
----- 1908-------Since
Week. Sept. 1.
15.423
32.333
11,187
22,223
50
725
2,349
7,923
1,398
4,961
3.017
6,645
2,263
8,069
21.157
45,361
35.687
82,879
1,852
136
1,030
4,913
1.173
6,053
1,902
349
627
5.268
2.933
5,091
3,018
12.139
2.878
13,292
18,139
33,222
32,809
69,587
• Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 18,139 bales, against 32,809 bales for the week last
year, and that for the season to date the aggregate net overl&nd exhibits a decrease from a year ago of 36,365 bales.
1909
Since
In Sight and Spinners'
Week, Sept. 1.
Takings.
442.783 1,955.911
Receipts at port to Oct. 15
18,139
33.222
Net overland to Oct. 15
338.000
Southern consumption to Oct. 15...... 52.000
1908
Since
Week, Sept. 1.
370.763 1,734.833
32.809
69.587
43.000
268,000
512.922 2,327,133
79,522
318,068
446.572 2,072.420
85.570
338,531
Total marketed
Interior stocks in excess
Came into sight during week
Total in sight Oct. 15
_592,444 --------532,142
2,645.201
2,410,951
North spinners' takings to Oct. 15_ 60.736
209.610
99,367
274,525
Movement into sight in previous years:
Week1907-Oct. 17
1906-Oct. 19
Bales.
Since Sept. 1382,126 1907-Oct. 17
500,686 1906-Oct. 19
Bales.
1,825,882
2,281,382
Continental imports for the past week have been 94,000 1905-Oct. 20
441,001 1905-Oct. 20
2.586,717
1904-Oct.
21
554,950
1904-Oct.
Z,958,246
21
bales.
The above figures for 1909 show an increase over last week
QUOTATIONS FOR MIDDLING COTTON AT OTHER
of 348,097 bales, a gain of 415,764 bales over 1908, an MARKETS.-Below are the closing quotations of middling
increase of 331,472 bales over 1907, and a gain of 504,967 cotton at Southern and other principal cotton markets for
bales over 1906.
each day of the week.
THE CHRONICLE
1018
I VoL. Lxxxix.
Palestine, Texas.-There has been heavy rain op, one day
during the week, to the extent of one inch and seventy-eight
hundredths. The thermometer has averaged 66, ranging
13
13%
13
133.
13 3-16 13
Galveston
from 46 to 86.
4
13
5-16
13N
13
13%
1-16
13
1-16
New Orleans__ _ 13
13 3-16 13%
13%
13 1-16 13 1-16 13
Paris, Texas.-Rain has fallen on one day of the week,
Mobile
13
13 3-16 13
12 15-16 12 15-16 13
Savannah
to the extent of one inch and seven hundredths. The ther13 1-16 134
134
12
12
12
Charleston
13
IS V,
12
13
12
mometer has ranged from 39 to 93, averaging 66.
Wilmington_ _ _ _ 12
13%
13%
13
13 4
1334
13
Norfolk
13.85
13.95
13.65
13.65
13.60
13.50
Boston
San Antonio, Texas.-There has been no rain during the
13
13
13;4
13%
13
13
Baltimore
week. Average thermometer 67, highest 92, lowest 42.
14.15
14.20
14.10
13.90
13.85
Philadelphia
137-16 133.
13 1-16 13 1-16 13 1-16 13%
Augusta
Taylor Texas.-We have had rain on one day of the week,
13
13%
13%
13
13
13
Memphis
13
13 4
13%
13%
13%
13
St. Louis
rainfall being twenty-six hundredths of an inch. The
the
13 9-16
13
13
13
13 3-16 13
Houston
thermometer has averaged 67, the highest being 92 and the
12
12 15-16 13
12
12'4
13J
Little Rock....
lowest 42.
Weatherford, Texas.-There has been rain on one day of
NEW ORLEANS OPTION MARKET.-The highest,
of
lowest and closing quotations for leading options in the New the past week, the rainfall reaching sixty-six hundredths
ranging from
Orleans cotton market for the past week have been as follows: an inch. The thermometer has averaged 67,
42 to 91.
Sarday, Monday, Tuesday, Wed'day. Thursd'y. Friday,
New Orleans, Louisiana.-Rain has fallen on one day of
Oct. 9. Oct. 11. Oct. 12. Oct. 13. Oct. 14. Oct. 15. the week, to the extent of one inch and twelve hundredths.
The thermometer has averaged 70.
October13.03-.09 13.08-.13 13.12-.18 13.20-.39 13.30-.49 13.37-.50
Range
Shreveport, Louisiana.-There has been rain on two days
13.06-.07 13.10-.12 13.17-.19 13.39-.40 13.40-.41 31.39-.36
Closing
Novemberduring the week, the precipitation being one inch and ten
®
Range
Average thermometer 67, highest 88,lowest 46.
Closing
13.09-.11 13.14-.16 13.20-.22 13.31-.41 13.35-.36 13.37-.38 hundredths.
December-We have had rain on one day
Mississippi.
Vicksburg,
13.46-.63
13.40-.63
13.31-.50
13.17-.31
13.15-.23 13.10-.27
Range
Closing
13.20-.21 13.23-.24 13.30-.31 13.49-.50 13.51-.52 13.47-.48 during the week, the rainfall reaching one inch and eightyJanuarythermometer has averaged 65, the
Range
13.29-.34 13.21-.37 13.33-.42 13.42-.62 13.53-.75 13.59-.75 two hundredths. The
Closing
13.31-.32 13.33-.34 13.40-.41 13.61-.62 13.63-.64 13.59-.60 highest being 85 and the lowest 47.
FebruaryHelena, Arkansas.-Picking is going on well. Frost in
Range
-- ® Closing
13.41-.43 13.43-.45 13.50-.52 13.71-.72 13.73-.74 13.69-.71 this vicinity on the 13th. We have had rain on one day
March
an
13.49-.54 13.42-.58 13.53-.61 13.62-.82 13.72-.96 13.78-.94 of the week, the precipitation being four hundredths of
Range
13.51-.52 13.53-.54 13.59-.60 13.81-.82 13.83-.84 13.78-.79 inch. The thermometer has averaged 59.4, ranging from
Closing
April34 to 82.
-®Range
13.54-.5613.57-.58 13.63-.65 13.85-.87 13.88-.89 13.81-.83
Closing
Little Rock, Arkansas.-There has been rain on one day
May13.56-.59 13.51-.65 13.62-.69 13.70-.89 13.78-.02 13.87-.02 of the past week, the rainfall being thirty hundredths of an
Range
13.58-.59 13.61-.62 13.68-.69 13.88-.89 13.91-.92 13.87-.88
Closing
inch. The thermometer has ranged from 40 to 84, averJuner1
,
-®---- @ -- aging 62.
Range
13.51-.60 13.61-.63 13.68-.70 13.88-.89 13.91-.92 13.87-.88
Closing
Mobile, Alabama.-Heavy to killing frost in a number of
July-13.58-.70 13.65-.73 13.76-.94 13.87-.01 13.95-.05 sections of Alabama on Oct. 13. Cotton picking is rapidly
Range
13.63-.65 13.68-.69 13.74-.75 13.95-.97 13.98-.99 13.94-.95
Closing
progressing, but there are continued complaints of short
August-@yield. The week's rainfall has been ten hundredths of an
Range
- @ -1$.55-.65
Closing
inch, on one day. The thermometer has averaged 70, rangToneFirm.
ing from 52 to 85.
Steady. I Steady. Firm. Steady. Steady.
Spot
Steady. ,Ba'ly sty Steady. Very sty. Very sty. Steady.
Options
Montgomery, Alabama.-Rain has fallen on two days during the week, the rainfall being thirteen hundredths of an
WEATHER REPORTS BY TELEGRAPH.-Telegraphic inch. The thermometer has ranged from 43 to 84, averagreports to us from the South this evening indicate that the ing 66.
weather has favored the gathering of the crop during the
Selma, Alabama.-There has been rain on two days during
week and that there has been excellent progress with picking the week, the rainfall being twenty-three hundredths of an
and with marketing as well. Heavy to killing frosts were inch. Average thermometer 63, highest 83, lowest 41.
reported on the 13th in a number of districts.
Memphis, Tennessee.-Picking and marketing are making
Galveston Texas.-There has been rain on one day during
some sections
the precipitation being one inch and six hun- good progress. Killing frost was reported from
the week,'
morning. Rain has fallen
dredths. Average thermometer 67, highest 82, lowest 52. in this territory on Wednesday
on one day of the week. The rainfall reached thirty-nine
Abilene, Texas.-We have had no rain during the week. hundredths of an inch. Average thermometer 61.6, highest
The thermometer has averaged 64, the highest being 90 81.2, lowest 39.8.
and the lowest 38.
Savannah, Georgia.-We have had rain on two days during
Brenham, Texas.-We have had heavy rain on two days
of an inch.
during the week, to the extent of three inches and forty the week, to the extent of thirty-eight hundredths
hundredths. The thermometer has averaged 72, ranging The thermometer has averaged 68, ranging from 48 to 83.
from 49 to 94.
Charlotte, North Carolina.-Farzners are selling cotton as
Corpus Christi, Texas.-Rain has fallen on two days of the fast as they can pick it. There has been rain during the
week, to the extent of twenty-six hundredths of an inch. week, the precipitation being one inch and twelve hundredths.
The thermometer has ranged from 54 to 86, averaging 65. The thermometer has averaged 61, the highest being 80 and
Cuero, Texas.-Rain has fallen on two days of the week. the lowest 37.
The rainfall reached seventy hundredths of an inch. AverCharleston, South Carolina.-There has been rain on two
age thermometer 70, highest 97, lowest 43.
during the week, to the extent of twenty-eight hundays
Dallas, Texas.-We have had rain on one day of the past dredths of an inch. The thermometer has averaged 66,
week, the rainfall being one inch and one hundredth. The ranging from 52 to 81.
thermometer has averaged 71, the highest being 98 and the
The following statement we have also received by telelowest 43.
rivers at the points named at
Fort Worth, Texas.-There has been rain on one day of graph, showing the height of
the past week, the rainfall being one inch and twenty-one 8 a. m. of the dates given:
Oct. 15 1209. Oct. 16 1908.
Feet.
Feet.
hundredths. The thermometer has averaged 64, ranging
4.2
3.8
of
gaugezero
Above
New. Orleans
from 44 to 84.
4.0
6.0
Above zero of gaugeMemphis
6.8
7.3
Henrietta, Texas.-There has been heavy rain on one day Nashville
Above zero of gauge_
*0.5
3.6
gauge_
of
Below zero
of the past week, the rainfall being one inch and seventy-two Shreveport
5.11
8.1
Above zero of gauge_
hundredths. The thermometer has ranged from 40 to 95, Vicksburg
'Above.
averaging 68.
Huntsville, Texas.-Rain has fallen heavily on one day
MANCHESTER MARKET.-Our report received by
of the week. The rainfall reached two inches and one hun- cable to-night from Manchester states that the market is
dredth. Average thermometer 67, highest 88, lowest 45.
firm for both yarns and shirtings. Merchants are not
Kerrville, Texas.-There has been no rain during the week. willing to pay present prices. We give the prices for to-day
The thermometer has averaged 61, the highest being 86 and below and leave those for previous weeks of this and last year
the lowest 35.
for comparison.
Lampasas, Texas.-It has rained on one day during the
week, the rainfall being six hundredths of an inch. The
1994.
1909.
thermometer has averaged 68, ranging from 38 to 98.
5% lbs. S8gri- Cot's
Corn
ShirtMs.
on
854
one
heavily
day
Longview, Texas.-Rain has fallen
ins, cemmon And.
328 Cop
ings, common Mid.
32s Cop
tlyrs
to /Meat.
Twist.
during the week, the rainfall being two inches. The therto finest.
Ugl's
Twist,
66.
averaging
mometer has ranged from 44 to 87,
d.
d.
a.
d.
6.a.
d.
d.
a. d.
6.5. d.
Luling, Texas.-There has been rain on one day during Sept 6.
1.24
1036
07
9
4
84
6.88
73
of
5
09
hundredths
0
thirty-three
5
10
3 9 5-16 0
the week, the precipitation being
5.4T
6 8.3 7 15-160 9 4 10 oi8 0
10 9 7-16 @ 1036 5 1 09 6
an inch. Averag thermometer 67, highest 91, lowest 42.
9 4 104 48 14 5.54
6.93 8
,5 14 tb9 6
0 10,
17 94
5.39
44
08
1
on
one
5
day
rain
954
0
heavy
7.31
had
74
3
have
-We
5
09
Texas.
854
24 04 0 1034
Nacogdoches,
of the week, the rainfall being two inches and fifty-two hun- Oct.1,954 0 104 5 3 09 9 7.29 8( 0 934 1 13408 44 8.11
1 134 08 44 4.96
11-160
7.27 8 11-1"9;4
3549 9
dredths. The thermometer has averaged 66, the highest
0 104
8934
s 1.40A (S
4.56
7.41
0 104 5 4 of) 9
15 10
being 90 and the lowest 41.
Closing Quotations for Middling Cotton on-
Week ending
October 15.
Sarday. Monday. Tuesday. Wed'day. Thursd'y. Friday.
THE CHRONICLE
OCT. 16 1909.3
WORLD'S SUPPLY AND TAKINGS OF COTTON.
1908.
1909.
Cotton Takings.
Week and Season.
Season.
Week.
Week.
Season.
2,789,959
2,467,381
Visible supply Oct.8
1,931,022
1,714.982
Visible supply Sept. 1
592,444 2,645.201 532,142 2,410,951
American in sight to Oct. 15
13,000
36,000
36,000
7,000
Bombay receipts to Oct. 14_ .__
2,000
39,000
51.000
5,000
Other India ship'ts to Oct. 14
32,000
51.000
86,000
22.000
Alexandria receipts to Oct. 13
5,000
23,000
30,000
7,000
Other supply to Oct. 13 •
3,434,403 4,760,223 3,041,023 4,293,933
Total supply
DeductVisible supply Oct. 15
3,138,056 3,138,056 2,722,202 2,722,292
-296,347 1,622,167 318,731 1,571,641
254,347 1,344.167 278.731 1,210,641
42.000
278,000
361,000
40,000
Total takings to Oct. 15
Of which American
Of which other
• Embraces receipts in Europe from Brazil. Smyrna, West Indies, dec.
INDIA COTTON MOVEMENT FROM ALL PORTS.
October 14.
1909.
1908.
1907.
Receipts at-
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
13,000
Bombay
36,000
7.000
For the Week.
!Exports
from-
Bombay3,111 1,0001
1909
__
5,00- _
1908
: 1,00* 3,000
1907
Oalcutta1909
19081,00
1907
Madras1909
19081,00
1907
All others1909
2011,
1908
_ . 3,00o
_ .1
__
1,001
1907
1908
1907
--
5,000
9,00
2,00
5,000
49,000
Since September 1.
Great Conti- Japan
Great
Britain nest. &Chino1 Total. Britain.
Total all-
36.000
4,000
5,000
4,000
Contineat.
Japan
&China. Total.
30,000
67,000
94,000
1.100
20,001
43,000
70,001
1,000
1,000
1.000
1,000
3,000
5,000
5,000
1,000
1,000
4,000
5,000
3,000
1,00
1,000
5,000
7,000
3,000
2,000
3,000
1,001
2,000
2.000
3.001
28,000
33,000
16,000
3,000
2,000
30,000
38,000
21,000
1.0001 10,000
3.0001 5,000
4,000
4,000
4,000
55,0-1
86.000
94,000
10.00
28,000
26,000
69,000
118,000
124,000
1.000r6.00
9,0
24,000
24,000
4,000
6,000
6,000
:ALEXANDRIA RECEIPTS AND SHIPMENTS.
Alexandria, Egypt,
October 13.
Receipts (cantars)This week
Since Sept. 1
Total exports
1908.
1907.
250,000
651,782
165,000
382,505
300,000
940,465
This I Since
This Since
This Since
Week. Sept. 1. Week, Sept. 1. Week. Sept. 1.
!Exports (bales)To Liverpool
To Manchester
To Continent
To America
1909.
14,492j
5,750 6,250
5,500 23,968
2,307,
---1
11,250 47,0171,
Note.-A canter is 90 lbs.
2.000 7,249
3,000 6,081
3,500 22,433
700 1,998
8,750 24,472
8,500 18,086
7,250 24.868
400 2,091
0,200 37,761 24,900 60,517
Egyptian bales weigh about 750 lbs.
The statement shows that the receipts for the week were
250,000 cantars and the foreign shipments 11,250 bales.
EGYPTIAN COTTON CROP.-Alexandria, advices of
date Sept. 24 to Fr. Jac. Andres Inc., of Boston, are as
follows:
The staple of this crop's upper Egyptian is very satisfactory, but the
cotton from several provinces shows a lack of cleanliness. Arrivals from
the lower Egyptian provinces are still insignificant. Spinners still keeping
in the background, as far as future shipments were concerned, due no doubt
to the high prices prevailing and the uncertain feeling as regards the American crop. The weather still continued favorable, but the damage by recent
fogs and by caterpillars is being reported as more serious than anticipated.
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 237,524 bales. The shipments in detail, as made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-Oct. 8-03rmania, 827._ _Oct. 9Baltic, 3,152
3,779
To London-Oct. 9-Minnehaha, 500
500
To Havre-Oct. 12-Caroline. 1.050 upland, 7 foreign
1,057
Dunkirk-Oct.
'Iso
11-Californie. 200
200
To Bremen-Oct. 13-George Washington, 411
411
To Hamburg-Oct.8-Waidersee, 199; Volturno. 58_ _Oct. 13
President Grant, 200
457
To Antwerp-Oct. 8-Lapland, 949
949
To CopenhaTen-Oct. 13-United States, 100
100
To Genoa-Oct. 8-Prinzess Irene, 902_ _ _Oct. 13-Italia, 850 1,752
To Naples-Oct. 8-Primes Irene, 800
800
To Venice-Oct. 12-Oceania, 200
200
GALVESTON-To Liverpool-Oct. 8-Indore, 16,444 __Oct. 9Bernard, 7,299
23,743
To Havre-Oct. 8-Crown of Grenada, 5,901__Oct. 9-Inpedal, 10,275
16,176
To Bremen-Oct. 8-Industry, 10.251._ _Oct. 9-Wittenberg,
6,576
16,827
To 13‘rcelona-Oct. 13-Monginevro, 4,425.._Oct. 14-Clara,
1,217; St. Gothard, 2,005
7,647
To Genoa-Oct. 13-Monginevra,6,656
6,656
To Venice-Oct. 14-Clara, 450
450
To Trieste-Oct. 14-Clara, 1.101
1.101
NEW ORLEANS-To Liver000l-Oct. 9-Wanderer, 6,706_ _ _
Oct. 13-Tampican, 7,500_ _Oct. 15-Commodore, 10,000_ 24,206
To Belfast-Oct. 9-11athlin Head, 2,833
2,833
To Antwerp-Oct. 11-Chaucer, 1,074
1,074
BILE-To Havre-Oct. 11-Madrileno, 7,350.__Oct. 14Black Prince. 3,172
10,522
‘00LA-T. Havre-Oct. 14-August Belmont, 0,500
0,500
1019
Total bales.
SAVANNAH-To Liverpool-Oct. 11-Tropea, 15,203
15.203
To Havre-Oct. 9-Cheviot Ranpe, 6,731; Clanton, 4,620
11,351
To Bremen-Oct.9-Mystic,9,590_ _ Oct.11-Median.14.705
__Oct. 14-Pathan, 9,807
34,102
ToHamburg-Oct.
9-Clan MacLaren, 600
600
To Reval-Oct. 9-Cheviot Range, 200.._ Oct. 11-Medlan,
150__ _ Oct. 14-Pathan, 900
1,250
To Gothenburg-Oct.9-Gla nton, 150_ Oct. 14-Pathan,$00
450
To St. Petersburg-Oct. 11-Median, 50
50
To Oporto-Oct. 14-Pathan, 100
100
BRUNSWICK-To Brett-en-Oct. 8-Keivinhead, 10,171
10.171
CHARLESTON-To Liverpool-Oct. 13-Grantley, 4.620
4.620
WILMINGTON-To Bremen-Oct. 13-George Fleming, 11.836_ 11,836
BOSTON-To Liverpool-Oct. 12-Bohemian, 2,857
2,857
To Manchester-Oct. 8-Iterian, 1,711
1.711
To Yarmouth-Oct. 1-Prince Arthur, 82._ Oct. 7-Prince
George, 118.. _Oct. 9-Prince Arthur, 50
250
BALTIMORE-To Liverpool-Oct. 8-Vedamore, 1,700
1,700
To Hamburg-Oct. 11-Bethania, 1,730
1,730
PHILADELPHIA-To Liverrool-Oct. 8-Haverford. 3,083
a,083
To Manchester-Oct. 1-Manchester Commerce, 2.172
2,172
To Antwerp-Oct. 14-Menominee. 598
598
To Gen a-Oct. 12-Ancona, 1,900
1,900
SAN FRANCISCO-To Japan-Oct. 12-Tenyo Maru,850
850
Total
237,524
The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
Great French Ger. -Oth.Europs- Mex..
Britain. ports. many. North. South. ctc. Japan. Total.
New York
4,279 1,257
868 1,049 2,752
10.205
Galveston
23,743 16,1'76 16,82'7
15,854
72,600
New Orleans_ _ _27,039
128,113
Mobile
10-iii ------------ ---10,522
Pensacola
----------------9,5009,
500
Savannah
5;
ai,io f
1
63.106
Brunswick -------------- 10,171----- ------10,171
Charleston
4,620 ---------------____
------4,620
Wilmington
____ 11-,836
11,836
Boston
4,568
ii6
4.818
Baltimore
____ f,i545
1.700
3,430
Philadelphia
5,255
__
-iii
____
1,sioo
7,753
San Francisco
iii
850
Total
86.407 48,806 76,134
4,471 18.706 2,150
850 237,524
The exports to Japan since Sept. 1 have been 4,673 bales
from Pacific ports.
LIVERPOOL.-By cable from Liverpool we have the following statemea of the week's sales, stocks, Sic., at that port:
Sept. 24.
Sales of the week
66,000
Of which speculators took_ 1,000
Of which exporters took
1,000
Sales, American
49,000
Actual export
4,000
Forwarded
65,000
Total stock-Estimated
676,000
Of which American-Est_ _584,000
Total imports of the week__ _ _ 23,000
Of which American
9.000
Amount afloat
112,000
Of which American
92.000
Oct. 1.
Oct. 8.
Oct. 15.
66,000
51.000
48.000
1.0001,000
1,000
1.6056
2.000
58,000
42.000
35.000
5,000
4,000
3.000
71,000
66.000
66,000
623,000
596,000
602,009
545.000
513.000
522.000
23,000
44.000
73,000
22,000
28,000
67,000
198,000
315.000
340,000
170.000
282,000
311,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Spot.
Saturday.
Monday.
Market, I
12:15 }
P. M. J
Quiet.
Quiet.
Tuesday. Wednesday. Thursday.
Friday.
Moderate
demand.
Easier.
Moderate
demand.
ifdoerats
demand.
Mid. Upl'ds
7.24
7.26
7.26
7.30
7.44
4.41
Sales
Spec.&exp.
7,000
300
8,000
1,000
8,000
300
10,000
600
12.000
700
6.000
300
Quiet.
Steady.
Futures. Steady at
Market 1 506 pts.
opened
I decline,
Steady at
3 points
advance.
Steady at Irregulars
8 points Hpt.dee.to
advance. 134pts.adv
Market I Very sty. Quiet at Steady at Barely sty. Easy at Barely sty.
unch. to 3(4)654 pts. at 5@1114 20534 2€1534adi.
4:00
) unch. to
P. M. J Ui pts.dec. 1 pt. dec. pts. adv. pta. adv. pts. adv. pts. adv.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The prices are given in pence and 100ths.
Sat.
Thus, 7 03 moans 7 03-100d.
Mon.
Thurs.
Wed.
Fri.
Tues.
Oct. 9
1234 1234 12-3i 4 1234 4 1234 4 1234 4 1234 4
to
Oct. 15. p.m. p.m. P.m. P.m. P.m. P.m. 0.m. P.m. P.m. P.m. p.m. P.m.
d.
October_ _
Oct.-Nov_
Nov.-Dec.
Dec.-Jan..
Jan.-Feb..
Feb.-Mch.
Mch.-Apr.
Apr.-May.
May-June
June-July
July-Aug_
Aug.-Sep_
Sep.-Oct
Oct.-Nov.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
d.
7 03 0334 0254 04 09 14 34 14 22 1934 18% 2234
6 9834 9834 9734 99 0334 09 0834 1634 1334 1134 1534
6 9634 97 9534 97 0154 07 06 13 10 09 1$
6 9634 9634 9534 98 0134 07 06 13 10 0834 1234
6 9634 9634 9534 973.4 0134 0631 0534 12H 0934 083.4 1234
6 96 96 95 97 01
0534 05 1134 0834 08 12
6 96 9534 95 97 01 0534 04H 11
0834 0734 1134
6 96 •9534 95 98 01 0534 04
11
08 0734 1134
6 96 9534 95 9634 01 0534 04
1034 08 0734 1134
6 9534 9554 95 9634 01 05 0334 09H 0734 07 11
6 93 93 92 94 9734 01
9934 0534 04 0334 0854
6 76 77 76 77 80 83 82 87 86 87 9134
41
6 41
40 41 43 45 45 48 49 49 53
6 26 27 26
$2 32 34 34 35 38
BREADSTUFFS.
Friday, October 15 1909.
Prices for wheat flour have been at a standstill. Trading
here has been extremely dull. The advance in wheat has
made buyers more than ever inclined to hold aloof. At the
Western and Northwestern markets, however, a big business
has been done. The spring-wheat flour millers in particular are doing a very heavy business for domestic aseount,
[VOL. wc.xxix.
THE CHRONICLE
1020
and there have also been reports current of a good foreign
trade. Some of the winter-wheat mills are said to be booked
ahead well into December. Rye flour and corn meal have
been dull and steady.
Wheat has advanced in the teeth of big receipts and dulness of the export trade. One explanation is that domestic
millers have bought freely and cash premiums have continued
high. The English of this would seem to be that this country is making perceptible progress towards an independence
of foreign markets. President J. J. Hill recently predicted
that it would not be many years before America would be
actually importing wheat. At present we see that, despite
Europe's indifference to American markets, prices on this
continent are rising under the stimulus of a purely domestic
demand. Moreover, flour sales at the Northwest have been
large. Aside from these facts, there have been no features
of striking interest. It may be added, however, that the
recent large receipts of wheat and the absence of export demand very evidently led to the formation of a large short interest. It was assumed that prices could go only one way,
and that way downward. The short side seems to have
been rather overdone. The Patten following are supposed
to have got short. Recently these interests are understood
to have covered. The story now is that New York people
formerly very prominent in the wheat trade in Chicago have
latterly, with their following, bought altogether something
like 20,000,000 bushels in Chicago. Both James A. Patten
and George W. Patten are now said to be identified with the
bull side. Eastern interests with Norman B. Ream,a former
prominent Chicago leader, are also understood to have a
favorable opinion of the market. In any event, new life
and snap have certainly been injected into it. There has
been a stampede of the shorts. Minneapolis prices have advanced on some falling off, whether temporary or otherwise,
in the receipts at that point, although it is true that the stock
at Minneapolis has been gradually increasing. The world's
available supply increased 6,823,000 bushels. This, however, was some 11,000,000 bushels less than the increase the
previous week. On the other hand, the crop outlook in
Europe is said to be favorable, despite some drawbacks in
France, Russia and Germany, and the crop news from most
parts of this country has been favorable. The firmness of
the cash situation, the activity in the Western flour markets,
and, finally, a steady rise in European quotations, have,
however, combined to bring about higher prices in this country. To-day. prices advanced on strong and active spot
markets, firmer cables, bull support and covering of shorts.
NEW YORK.
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
Nom. Nom. Nom.
Nom. Nom.
No.2 red winter. f. o. b
10951 11051 Holl- 11051 112 4 11351
December delivery in elevator
11351
113
111'%
day.
111
11051
May delivery in elevator
DAILY CLOSING PRICES OF WHEAT FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
107
10451 106
10151 10351
December delivery In elevator
10351 10451 Holt- 10551 106'% 10754
May delivery In elevator
99%
9851
day.
97
9951
9851
51
elevator
In
delivery
July
CHICAGO.
GRAIN.
Cents.
Corn, per bushelWheat, per bushelelev. 70
No. 2 mixed
, $1 1651
N. Duluth. No. 1
f.o.b. 71 %
No. 2 yellow
1.1451
N. Duluth, No. 2
f.o.b. Nominal
No. 2 white
_ _f.o.b Notninal
Red winter, No.
.. 2_____
Rye. per bushelHard "
1.24
f.o.b. 70
No. 2 Western _
Ce
Oats, per bushelNominal
State and Jersey
Natural white
43@4
Nominal
Barley-Malting
45® 49
White clipped
Feeding. c. I. f., N. Y. 60®62
Nom!nal
Mixed
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
-1
Receipts al
Flour.
Wheal.
I
Oats.
Corn.
Rye.
Barley.
bbls.196lbs. bush.60 lbs. bush. 56 lbs. bush.32 lbs. bush.481bs. bu.56 lbs.
35,000
970,460
556.800 2,456.250 1.853,000
222.284
Chicago
34,000
247,500
757.900
112.200
290,400
120.575
Milwaukee84.208
426,409
320.395
28,282
9,260 4,880,569
Duluth
808,400 1,361.710 124,000
108.110
3.790.600
Minneapolis_
5,000
60.000
72,200
135,000
Toledo
45,181
63,350
31,185
5.190
Detroit
16,524
113,313
36,850
4,849
1.868
Cleveland
4,000
93,600
531,200
293.855
675,572
73.070
St. Louis
14.000
48.100
256.500
317,878
27,000
98,550
Peoria
282.000
333,300
1,099,350
City.
Kansas
530,797 11,491.325
604.578 11.112,905
564,743 6.483.539
Tot.wk.'09
Same wk.'08
Same wk.'07
3,822,275
1,471,435
5,098,813
316,732
297,285
291,950
4.517.489 3.658.179
4,783.552 2.802.786
4.875,569 3.654.587
Since Aug. 1
5,208.397 80.628.602 34,129.301 46.199,947 19.335.204 2,152,210
1909
4.725.222 85,936,510 25,080,225 48.1196.753 2.606.309 2.220.583
1908
; 3,811.521 63,353.426 46.239,765 57.430,597 18.107.585 2,069.017
1907
Total receipts of flour and grain at the seaboard ports for
the week ended Oct. 9 1909 follow:
Wheat,
Flour.
bbLt.
bush,
Receipts at188,847 1.113,000
New York
58,740
322,373
Boston
315,773
75,392
Philadelphia
249,296
96,990
Baltimore
54,768
3,827
Richmond
6.000
New Orleans•_- 19,034
1.234
Newnort News-3,211
Norfolk
6,000
Galveston
11,434
Mobile
50,908 1,594,808
Montreal
404
Quebec
Corn,
bush.
141,750
34,056
27,462
75,000
51,518
102,500
Oats,
r bush.
345,625
78.418
50.220
34,023
22.570
66,400
4,000
41.025
50,000
10.815
153,716
Barley,
bush.
70,600
1,068
-- -906
Rye:
bush.
9,200
2.364
2,400
26,036
5,440
_--
74,000
3,000
48,410
761,787 147.264
527.311
510.081 3,662,018
Total week
407,536 1,049,172 168,606 126,566
530,640 4.084,016
Week 1908
Since Jan. 1 1909.12,247,634 61,835,679 32,378,996 36,556,158 4511.847 808.829
Since Jan. 1 1908_13.319,811 81,043,249 28,754,795 34.251,473 3709,299 1984,187
• Receipts do not Include grain passing through New Orleans for foreign ports
on through bills of lading.
The exports from the several seaboard ports for the week
ending Oct. 9 1909 are shown in the annexed statement:
ExportsfromNew York
Boston
Philadelphia ___.
Baltimore
New Orleans ____
Newport NewsGalveston
Mobile
Montreal
Norfolk
Quebec
Wheat.
bush.
616,903
412,323
115,905
53,590
40.075
Corn, Flour,
bbls.
bush.
67,766 63.275
6,267 11,471
59,815
17,543 42,740
63,630 7,881
1.234
4,284
41,025 11,431
43,524
3,211
464
Oats,
bush,
250
Rye, Barley,
bush.
bush,
Peas
bush
8,068
170
Indian corn futures have been nominal here. At the West
10,815
50,000
799,899
the market has been active. Prices have shown some irregubeen
has
the
time
the
of
tendency
much
larity, but during
downward. The weather has been ideal for curing the crop
50,000 8.068
11,235
Total week_ - _2,034,695 196,231 249.330
and an early movement of new corn on a large scale is expec- Week
13,220 146,029 31,916 62,096
17,664 260.998
1908
3,847,509
ted by very many. The quality of the crop is said to be
for
the
exports
these
week and since
The destination of
excellent. The cash demand has been quiet. The country July 1 1909 is as below:
has continued to sell freely and there has been considerable
Flour
Wheat-------Corn-pressure at tunes from elevator interests. But for the
Singe
Since
Since
July 1
July 1
Week
Week
Week
July 1
strength of wheat, the depression in corn would probably
1909.
1909.
Oct, 9.
Oct. 9.
1909.
and Oct. 9.
week
for
Exports
wheat.
with
advanced
prices
To-day
have been greater.
bush.
bush.
bbls.
bush.
Obis.
bush.
since July Ito526,916
79,463
Country offerings were smaller, cash markets at the West United Kingdom ___128,825 1,286.680 1,221,161 13,701,979
548,339
63.760
7,687,618
59,669
808,459
390,891
Continent
covered.
shorts
and
more
active
were stronger and
47,756
989
120,977
So. & Cent. Amer_.. 10,892 193,156 1
NEW YORK.
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN
Sat. Mon. Tues. Wed. Thurs. Fri.
68 51 69 14 Holt- 68 h 68 4 70
Cash corn
70
day. 6851 684 6951
70
elevator
In
delivery
December
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
5754 5754 5854 59
58 54 58
December delivery in elevator
6034 60% Holt- 6051 6051 6151
May delivery In elevator
6051 6051 day. 5934 6051 6051
July delivery in elevator
Oats for future delivery in the Western market have been
very quiet. Price changes have been slight. On the whole
the tone has been steady, owing largely to the rise in wheat.
This has served to offset the depression in corn and the large
and increasing stocks of contract grade at Chicago. Receipts have been moderate and of late there has been a
somewhat larger cash demand. Elevator interests, however,
have been selling and sentiment is bearish, owing to the
liberal supplies and the belief in a large crop movement in
the near future. To-day prices advanced on wheat's strength
and covering of shorts.
NEW YORK.
DAILY CLOSING PRICES OF OATS IN
Thurs.
Wed.
Frt.
Tues.
Mon.
Sat.
43-45 51
43-46
43-455 43-4554 Holt- 43-4554
To.'2 white
36
White, clipped.
45-49
4351-48 4351-48 day. 4351-48 4354-48
L to 38 lbs
DAILY CLOSING PRICES OF OATS FUTURES IN
Sat. Mon. Tues. Wed. Thurs. Fri.
3951 3954 Holt- 3954 39'4 4051
December delivery in elevator
4151 4151 day. 4151 42
4251
May delivery In elevator
CHICAGO.
45,352
6,667
633,276
12,493
7,200
196,231
17.464
1,775,980
6111,778
The world's shipments of wheat and corn for the week
ending Oct. 9 1909 and since July 1 1909 and 1908 are
shown in the following:
Corn.
Wheat.
1908.
1909.
Exports.'
Week
Oct. 9.
Bushels.
North Amer. 3,977,000
Russian _ _ 7.896,000
Danubian _ _ 496,000
200.000
Argentine _
Australian _ 400.000
0th.countr's 464,000
Since
July I.
Since
Ju y 1.
1909.
Week
00. 9.
1908.
Since
July 1.
Since
July 1.
Bushels. Bushels. Bushels.
Bushels.
Bushels.
820.400
34,366.000 56,673,700 164,000 1,681,000
57,512,000 '18,184,000 230,000 5,391.000 4,935,500
34,000 6,537.000 5.803.500
8,368,000 13,768.000
11,864,000 21,902.000 2,363,000 41,517,000 29,658.500
2,692,000 3,256,000
21,720,000 5,000,000
Total ---- 13433000 136,522,000 118,783,700 2,791,000 55.126,000 41,217,900
The quantity of wheat and corn afloat for Europe on dates
mentioned was as follows:
Corn.
Wheat.
United
Kingdom.' Continent.
FIA)U R
Kansas straights, sacks_35 00 Z55 25
113 40
0
Kansas clears. sacks___ ,
45
6
0
70
City patents
4 15
4 45
Rye flour. bbls
4 15
Graham flour
4 40
3 35
Corn meal, kiln dried
3 40
1,675
5.000
249,330 2,309,554 2,034,695 21,517,249
260,998 2.769,908 3,847.509 40,704.779
Total
Total 1908
The following are closing quotations:
Winter. low grades_ ___$4 15@$4 35
5 65
Winter patents, new.. 5 50
5 O0® 5 2.5
Winter straights, new
4 80
Winter clears, new__ 4 60
5 50
5 25
Spring patents
5 20
4 95
Spring straights
4 75
4 60
Spring clears
75
26,050 £357,140
West Indies
36,864
Brit. No. Am. Cols_ 3.225
20,669
44,823
Other Countries
Oct. 9 1909_
Oct. 2 1909_
Oct. 10 1908_
Oct. 12 1907_
Total.
Bushels. Bushels. Bushels.
11,840,000 15,760,000 27,600,000
10,880,000 13,840,000 24,720,000
15.680,000 17.680,000 33,360,000
17,800,000 15,720,000 33,520,000
United
Kingdom. Continent.
Bushels.
5,780.000
6,375,000
5,950,000
7,488,000
Total,
Bushels. Bushels.
5,355,000 11,135,000
5,865,000 12,240,000
6,035.000 11,985,000
3,560.000 11,048.000
Barley,
bush.
43,000
1,000
1,000
105,000
1,000
31,000
42,000
584.000
1,000
199,000
4.705.000
297,000
768,000
1,095.000
366.000
331,000
1.094,000
274.000
193,000
260.000
62,000
13,000
109,000
12,000
61,000 1,276,000
773,000
151.000
21,000
4,000
Total Oct. 9 1909...22,508,000 2,915,000 13,310,000
Total Oct. 2 1909-19,442,000 3,367,000 12,801,000
CANADIAN GRAIN STOCKS.
Oats,
Corn,
Wheat,
bush.
bush.
bush.
225,000
1,111,000
63,000
Montreal
4,026,000
Fort William
2.189,000
Port Arthur
656,000
Other Canadian
513,000 3,601.000
458,000 3,593,000
225,000
63,000
195,000
48,000
SUMMARY.
Corn,
Oats,
Wheat,
bush.
ubsh.
bush.
22,506,000 2,915,000 13,310,000
63.000
225,000
7,982,000
74,000
47,000
127,000
897,000
128,000
90.000
36,000
137.000
128,000
65,000
125,000
520,000
7,000
17.000
Rye,
bush.
Total Oct. 9 1909- 7.982,000
Total Oct. 2 1909._ 7.494,000
American
Canadian
Total Oct. 9 1909_30.488,000
Total Oct. 2 1909-26,936,000
Total Oct. 10 1908_.37.652.000
Total Oct. 12 1907-.42,012,000
Total Oct. 13 1906_36,301,000
456,000
336,000
Barley,
bush.
74,000
Barley,
Rye,
bush.
bush.
513.000 3,601,000
74,000
513,000
2,978,000 13,535,000
458,000
3,415,000 12,996,000
904.000
3.005,000 8,169.000
905,000.
4.332,000 6,165,000
3,680.000 8.607,000 1,550,000
3,675,000
3,640,000
6,168,000
4,842,000
2,265,000
THE DRV GODS TRADE.
New York, Friday Night, Oct. 15 1909.
Further progress has been made In the movement among
cotton mills to curtail production. The action of the Board
of Governors of the American Cotton Manufacturers' Association at their meeting at Charlotte, N. C., last Friday,
recommending curtailment, was followed this week by
similar action on the part of both the North Carolina and
the South Carolina Cotton Manufacturers' Associations.
The Arkwright Club of Boston has been engaged in an attempt
to bring about a similar curtailment in New England, and
advices state that signatures representing more than 7,000,000 spindles-the minimum required to make the plan
operative-are practically assured, and some leading
manufacturers, it is understood, are already arranging their
working schedules to provide for the proposed curtailment.
A general restriction of output, therefore, now seems most
likely. The primary cotton goods market has displayed
further strength, prices on various lines having been advanced to still higher levels, and therefore nearer a panty
with the present cost of the staple; on not a few print cloth
20.
numbers, in fact, the market is now on a parity with 133/
cotton. The attitude of buyers and sellers, however, so
far as forward business is concerned, has shown little change;
mills still hesitate to accept contracts, and buyers as a rule
are keeping close to shore, so to speak, pending further
developments, although they are willing to operate conservatively for future needs when mills will sell at current
prices. Trade upon the whole at first hands has been
moderate and demand more or less irregular and spotty. .tool.
. Oat..te.
.
On the coarser lines higher prices are being reached rather .1.x
au .40.0W
NW .400000
slowly, but on goods from medium -count yarns conditions
are reported as somewhat healthier, while considerable
ta
0900
activity in cotton goods of print cloth yarn construction for
.4 ts .4 A. ca 000
0
.1 0 Co 4,
been
has
steady
noted;
the
prompt and near-by delivery
000 05.
0-CA In 09
00 00 Cs CA
advancing tendency of the gray goods market has caused
CA Cs ▪ Ca ce ea ea
buyers to hesitate less in paying prices near the top. Jobbers
A."
report an improvement both in current trade and in ad00 00
A Ca
vance business, as retailers have shown more interest in
AA
00
staples, and the total volume of sales has been fair. Some
N
large jobbers apparently consider current prices attractive,
ON
to
are
endeavoring
and
notwithstanding recent advances,
4
CA ,
A :4
coyer further needs. Export trade has continued very
00 05
Ce QD
quiet, owing to the higher prices ruling. In the primary
AA
market for men's wear demand for light-weight fabrics has
oN
W Co
increased and broadened materially, and dress goods for
fall have been more active.
00
na
Co
Co .
AA
DOMESTIC COTTON GOODS.-The exports of cotton
cm Co
C4 C. OD
0 Co to Ca
000
goods from this port for the week ending Oct. 9 were 8,500
packages, valued at $443,428, their destination being to the
points specified in the tables below.
C .4040 C cm
palaNastu IOL
Rye,
bush.
7,000
Total
-----1908----Since
Week. Jan. 1.
655
29
913
16
18,351
9
250 . 9,754
24,289
7,682
:::
20,164
809
1,293
45
12,050
280
32,400
2,150
16,018
158
2,500
3,746
114,022
143,889
CCs
/90'etcete .9W9Z9
New York to October 9Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central Americo
South America
Other countries
-----1909----Since
Week. Jan. 1. •
34
1,475
17
825
5,620 160,941
659
13,256
23,974
218
12,782
754
32,138
27
1,307
138
10.972
628
41,525
405
14,849
AC
cob
*
.400Ncm W
CO Oe.a.12.
C, CA A. 4, r4
OD to CD Ca Co
Cats ..+
NO Cs'-'
Ca..
AN
CA CA .4 iv CD
a iv
.4:4 Oa"
9N .
,CO
NN 20.....41
000 I 04.000
.4t)
00
9.00
9.0
CP 0
iv :4
CO▪ N
ts,
Cd
Cs
Om
ta
FOR WAREHOUSE DURING SAME PERIOD.
SeVEZVOCI
.8a
00
IN
00
.s
CA
Co CA
C. CD
000NOM
Ala.00
0
O
Cm
AN
co ta
9.0
4.
..
0 Cm .3.4 na Ca
A
to Cm CD Co .1
NA.400
,
c
.o
CIO .4
to no 000400i;.,if
CA
4,
CD 00 OD co Ca
.
4.10:-.A.A
CD 4. ta CD CO .4 ne
4
,
4. 4,0 .1 .40 OD OD
9170.Z09.121
GRAIN STOCKS.
Corn,
Oats,
bush.
bush.
991,000
101,000
9.000
82,000
41,000
9,000
593.000
77,000
165.000
89,000
10,000
1,524,000
247,000
405.000
54,000
----The value of these New York exports since Jan. 1 has
been $16,960,230 in 1909, against $9,004,511 in 1908.
Bleached goods, especially low counts, have been in active
request from cutters and others and have ruled very firm
in sympathy with the advances in the gray goods market.
Staple prints have been in good demand and are more firmly
held, a further shortening of discounts by leading agencies
being noted, while some sellers have refused to book business
except for near-by delivery; more interest has been taken in
fancy prints for spring and a fair advance business is said
to have been done on certain printed wash fabrics. The
call for ginghams has been quite active and a curtailment
of production by some of the leading producers is considered
probable. A fair inquiry has been in evidence for the best
known brands of cotton blankets, napped fabrics, tic., for
prompt shipment, and there has been a good business in
brown cottons, tickings, aenims, colored cottons, and in
fact on most lines of domestics, all of which have shown a
distinctly firmer tone. Jobbers have enjoyed a larger
though not active business from retailers, who have operated
more freely in staple cottons, which is taken to mean that
retailers are moving more fall merchandise than recently.
Wide print cloths have ruled very strong with further advances during the week, which have brought standard gray
4c.; regulars have also been firm and are
goods up to 53
/0. nominal.
quoted at 33
WOOLEN GOODS.-In the men's wear market a broader
and larger demand for light-weight fabrics has developed
and an increase is reported in the call for carded wool fabrics.
It is noteworthy that most of the business being done on
spring lines is confined to woolens, and in some quarters the
belief is expressed that there will be a heavy call for such
fabrics for the next fall season. Worsteds have also been in
good request, substantial re-orders having been received
by the leading agencies. In many quarters of the dress
goods market more activity developed than for some time
past, fancy worsted stock goods being in heavy demand,
particularly from the cutting-up trade. The call for broadcloths and diagonals has been well maintained.
FOREIGN DRY GOODS.-Imported woolen and worsted
goods have moved more freely for spring and fall and the
total business placed recently is said to have reached large
proportions. Linens continue strong and active, the
demand running principally to housekeeping lines, as retailers
are preparing for special sales next month. A fair business
has been done in burlaps, prices for which remain unchanged.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending Oct. 9 1909 and since Jan. 1
1909, and for the corresponding periods of last year, are as
follows:
•
CA.
A ..0 A isa
CD CD ca .4 .4 co
9' I .40 CI CS 00
N
CR C.
00
000
is
009.
00
CO
cI
CO tO
43 fe."4xt0
.
Cs
i
CO ,
Co QD
00
CS
CA
Aa
9.000
to
C7
N
ta
CO M.
ta OD
A Co
A
00
O
O9 CS
Ncm
0.4
.1N
00
9.000049.
04.49.9.00
a.14
OS
is
14
0.3 CS.
to I to
to na
A. CO Co .4 .4 co
1,0
NAANa
A
ta;•."
0"
.3"
"
paAMO
a.00.0
000'co To. 00
o.
40 • 00
co ca COCO
0000
Au
V1 2
0004-'1A00
.40
W.
Lt.92,9.96
The visible supply of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports Oct. 9 1909, was as follows:
AMERICAN
Wheat.
bush.
1,051,000
New York
38,000
Boston
169,000
Philadelphia
419,000
Baltimore
125,000
New Orleans
168,000
Galveston
1,487,000
Buffalo
955,000
Toledo
100.000
afloat
283,000
Detroit
1,480,000
Chicago
227.000
Milwaukee
6,830,000
Duluth
1.789,000
Minneapolis
1,586,000
St. Louis
1,236,000
Kansas City
23,000
Peoria
437,000
Indianapolis
2,844,000
On Lakes
On Canal and River....- 651,000
1021
THE CHRONTCLE
OM. 16 MU
N
CO
*
O.
Pi2e -Goio.
0
0 CD 4.
CO Cm .4 CA O.
0
0004
00000004.4
C. CA IA CA 10
it+
00 • N .4 0
:4.
..Co:AO
i
4
C
Cd
z;
Fs
1022
THE CHRONICLE
STATE liND CITY DEfrifITMENT,
News Items.
Chicago, 111.—City's Bonds Now Considered Legal Investments For New York Savings Banks.—As a result of the
recent Act of the Illinois Legislature providing for the
assessment of property at one-third instead of one-fifth of
its appraised value,an increase of more than 350 millions is
shown in the assessment rolls of the city of Chicago for
1909. It is pointed out that this increase in values brings
the bonded debt of the city, less its sinking funds and
water debt, to a percentage of the assessed valuation lower
than the maximum prescribed by the New York law as a
limit for municipalities, the bonds of which may be legally
invested in by savings banks. The following statistics are
furnished by the Farwell Trust Co. of Chicago in support
of their contention that the direct obligations of that city
will now meet the requirements of the New York law:
The total bonded indebtedness of the several taxing bodies
within the city is as follows:
City of Chicago
Sanitary District_
South Park District
West Park District
Lincoln Park District
West Town
•$27,050,000 00
19,089,000 00
7,000,000 00
2,980,000 00
2,250,000 00
115,000 00
City Sinking Funds (except water)
Park District Sinking Funds
(Total deductions)
$58,484,000 00
4,376,952 72
1,035,899 00
5,412,851 72
Net debt
$53,071,148 28
The assessed valuation of the City, 1-3 of total valuation,
based upon 1909 figures
$831,333,058 00
The value of all taxable property within the city of Chicago for the year
1909, as appraised for taxation, will amount to $2,493,999,174. The
appraised valuation of real and personal property for 1909 is $2,290,349,526.
The figures for capital stock and railroads are not yet obtainable, so 1908
figures are used for those two items.
[VOL. txxxix.
shall include all moneys accruing from the income derived from Investments In the internal improvement land fund, or that may hereafter
accrue to said fund, and shall also include all funds accruing to any State
road and bridge fund, however provided.
The Legislature is,authorized to add to such fund, for the purpose of
constructing or improving roads and bridges of this State, by providing,
in its discretion, for an annual tax levy upon the property of this State
of not to exceed in any year (one-twentieth (1-20)1 one-fourth OD of one
mill on all the taxable property within the State. [The Legislature is also
authorized to provide for the appointment by the Governor of the State
of a board to be known as the "State Highway Commission," consisting
of three members, who shall perform such duties as shall be prescribed
by law without salary or compensation other than personal expenses.
Such commission shall have general superintendence of the construction
of State roads and bridges and shall use such fund in the construction
thereof and distribute the same in the several counties in the State upon
an equitable basis.] Provided, [further,' that no county shall receive in
any year more than three (3) per cent or less than one-half (h) of one (1)
per cent of the total fund thus provided and expended during such year;
and provided further [that no more than one-third (1-3) of such fund accruing in any year shall be expended for bridges, and] that in no case
shall more than [one-third (1-3)1 one-half (%) of the cost of constructing
or improving any road or bridge be paid by the State from such fund.
One other amendment, to be known as Section 17 of
Article IX, provides for payment by the State of damages
to growing crops by hail and wind and to provide a fund
for that purpose. This proposal, if adopted by the people,
will read as follows. A similar amendment was presented
to the electors in 1908 but failed to carry.
Section 17. The Legislature may provide for the payment by the
State of Minnesota. of damages to growing crops by hall and wind, or
either, and to provide a fund for that purpose, including the necessary
expenses of giving elect to this Act, may impose a specific tax upon lands,
the owners of which, at their option, have listed the same with county
auditors for that purpose, and no payment shall be made of any such
damages except from the fund so provided.
Still another amendment, which adds a new section
(Section 17a) to Article IX of the Constitution, makes provision for the exemption from taxation of certain lands used
for forestry purposes. Below we give the proposed new
section:
Section 17a. Laws may be enacted exempting lands from taxation for
the purpose of encouraging and promoting the planting, cultivation and
Protection of useful forest trees thereon.
While another proposal amends Article IX of the Constitution by providing for the levying and collection of an annual
tax for reforestration. This amendment, if adopted, will be
Colorado.—New Bonds Being Exchanged for Outstanding known as Section 18 of the article above referred to and
Warrants.—By Section 6 of an Act passed by the 1909 will read as follows:
Section 18. To secure a sustained yield of timber for the use of the
Legislature and approved May 5, the State Treasurer is
of this State, the proper officials shall annually levy and collect a
empowered to exchange, at par and accrued interest, the people
tax of one-fifteenth of one mill on each dollar of taxable property within
$950,000 3% 20-year coupon funding(Series of 1909) bonds, this State, the proceeds of which shall be used for the purchase of land
better adapted for forestry purposes than for agriculture for the State at
mentioned in last week's "Chronicle", for certain warrants not
over $3 per acre, and for the production and maintenance thereon of
or certificates of indebtedness issued during the years 1899, forest according to forestry principles. Unexpended balances shall not
lapse
but constitute a fund for forestry purposes.
1903 and 1904, for the purpose of .suppressing insurrection
The timber produced thereon shall be sold at a fair valuation and the
and defending the State. We are advised by the State revenue therefrom or from other source shall be paid into the State treasury,
that one-quarter of the net revenue shall be paid to the towns,or,
Treasurer, under date of October 9, that up to that time the except
if unorganized, to the county, in which the land is situated, in aid of
State had "exchanged and completed practically one-third public schools and roads.
Should any tract acquired be found better adapted for any other purpose
of the entire amount of insurrection certificates outstanding."
than the production of timber, it may be sold and the proceeds used for
Below we publish a copy of the circular issued by his office acquiring
or developing forestry land.
Until otherwise directed by the Legislature, which may supplement
to the holders of these certificates of indebtedness under
these provisions with necessary enactments, the State forestry board shall
date of August 4 1909. As stated last week, some of the draw and disburse the money hereby provided, and purchase, manage and
holders of these warrants are not satisfied with the terms control the lands and forests.
No money shall be paid for any tract until the Attorney-General shall
of exchange, contending that they should receive a bond certify
to the validity of the title. It shall be competent for two successive
bearing a higher rate of interest and therefore commanding regular legislatures, by a two-thirds vote of each house, to repeal any of
these
provisions.
a better price in the market.
Rock Hill, York County, So. Caro.—Bonds Declared Void.
Office of the State Treasurer.
Denver.
—According to the "Columbia State" of Oct. 6 the South
August 4 1909.
Carolina Supreme Court has declared illegal the $250,000 5%
Dear Sir—
You are hereby notified that, in accordance with the provision of Senate bonds voted on Feb. 11. V. 88, p. 521. It is held that the
Bill No. 122, passed by the 17th General Assembly, I am authorized to election was void, owing to
the fact that the voters were not
call Certificates of Indebtedness of Series of 1899, 1903 and 1904, known
as Insurrection Certificates, and exchange 3%, 20-year State bonds for given an opportunity at the polls to say how much of the bond
same.
issue should be devoted to water-works afid how much to
Our bonds are ready and bear interest from July 1st 1909 and abovedescribed certificates will be received in the office of the State Treasurer sewerage.
exchange.
until January 1st 1910 for purpose of
South Dakota.—Correction.—Owing to a typographical
This issue of bonds Is in denominations of $100, $500 and $1,000 each.
and the total amounts of any certificates including accrued interest pre- error it was reported
last week that certain proposed consented for exchange must reach $100 or any multiple thereof, or remittance
stitutional amendments had been passed by the 1906 Legisto make such amount must accompany the certificates.
The bonds are made to bearer, negotiable in form, with interest coupons lature. The year should have been printed as 1909.
payable January and July of each year at the office of the State Treasurer,
In Denver, Colorado, or at the banking house of Blair & Company in New
Texas.—Vote on Constitutional Amendments.—We are
York City, and will sell readily
,at a slight discount.
On notice to this office of the numbers of certificates you hold and date advised that the official vote on the three constitutional
of same, we will advise you a date for exchange; also the amount required amendments
adopted on August 3 was as follows:
to reach the denomination of our bonds.
'Does not include $3,145,000 water debt.
W. J. GALLIGAN.
Hamilton County (P. 0. Chattanooga), Tenn.—Bonds Declared Valid by Supreme Court.—In a decision rendered Oct. 2
the State Supreme Court decided that the $150,000 43%
school bonds authorized by Chapter 71 of the Acts of 1909
are valid. The Court upholds the opinion of Chancellor
McConnell, who decided in favor of the county in the friendly
suit brought by certain citizens to test the legality of the
issue. The bonds were awarded in May to the Trowbridge
de Niver Co. of Chicago (V. 88, p. 1210), but subsequently
refused by them.
Minnesota.—Constitutional Amendments.—Five amendments to the Constitution will be submitted to the voters
of this State at the general election to be held in Nov. 1910.
One of these amendments in no way concerns this department as it relates to the taking of the State census in 1915.
Another proposal amends Section 16 of Article IX of the
State Constitution and provides for the levying of an annual
tax for the construction and improvement of roads and
bridges. This section, as amended, will appear as given
herewith. At the Nov. 1908 election a somewhat similar
proposal was rejected. We indicate by means of italics the
new parts to be added and by brackets the portions to be
omitted.
Section 111. For the purpose of lending aid In the construction and
improvement of public, highways and bridges, there Is hereby created a
fund, to be known as the "State Road and Bridge Fund." Said fund
Amendment to Article 11, Sections 4 and ,5 relating to incorporation of
certain cities and towns. Vote 44,990 for to 19,922 "against."
Amendment to Article? validating school districts and their indebtedness.
Vote 51,365 "for" to 16,430 "against."
Amendment to Article 7, Section 3, relating to the formation and taxing
power of school districts. Vote 48,000 "for" to 19,076 "against."
The second and third amendments were given in full
in V. 88, p. 1329.
Bond Proposals and Negotiations this week
)4,iiire Limn as folliaws
Adrian Independent School District No. 55(P.0. Adrian),
Nobles County, Minn.—Bond Sale.—On Oct. 9 the $5,000
10-year coupon refunding bonds described in V. 89, p. 945,
were awarded to the Minnesota Loan & Trust Co. of Minneapolis at par and accrued interest for 4s.
Albert Lea, Minn —Certificate Election.—An election will
be held on Oct. 18 to vote on the question of issuing $65,000
5% paving certificates of indebtedness for the Permanent
Improvement Revolving Fund. Maturity "on or before
Sept. 1 1914." These certificates have already been disposed of and are merely being voted upon in order to have
the sale confirmed. •
Alvin School District (P.0. Alvin), Brazoria County,Tex.
—Bond Election.—Reports state that a $20,000 ochoolbuilding bond election will be held Nov. 0.
00T. 10 1909.1
1023
THE CHRONICLE
Amsterdam, Jefferson County, Ohio.-Bonds Not Sold.- coupon improvement bonds described in V. 89, p. 946, was
No bids were received on Oct. 1 for $7,100 assessment and one of $3,010 (100.333) and accrued interest submitted by
$2,300 village's share 4% Market Street improvement bonds the Meyer-Kiser Bank of Indianapolis.
offered on that day.
Caldwell, Canyon County, Idaho.-Bond Offering.-ProAuthority Sections 1536-281 and 1536-213, Revised Statutes. Denominations: One bond of $1,100, 8 bonds of $750 each, 4 bonds of $500 each posals will be received until 12 m. Oct. 25 by C. J. Shorb,
the
at
semi-annually
Interest
Date
$300.
Sept.
15
1909.
of
and one bond
City Clerk, for $367059 78 5% coupon funding and paving
People's Bank Co. In Amsterdam. Maturity $1,600 in 1911, $1,250 in
each of the years 1912, 1913 and 1914, *1,050 in 1915 and $750 yearly from bonds.
1916 to 1019 Inclusive.
Authority, Chapter 12, Title 13, Revised Codes.
Denomination $1.000*
Date July 1 1909. Interest semi-annually at the City Treasurer's office
Anson, Jones County, Tex.-Bonds Voted.-A proposition and
at the Chase National Bank in New York City. Maturity July 1 1929,
to issue $15,000 street-improvement bonds was favorably subject to call after July 1 1919. Certified check for 5%, payable to the
of Caldwell, is required. Bonded debt at present. $66,000. FloatCity
voted upon, it is stated, at a recent election.
ing debt, $10,000. Assessed valuation 1909, $907,000.
Atlantic City, N. J.-Bond Sale.-On Oct. 9 the $205,000
Caldwell, Kans.-Bond Offering.-This city is offering
4% 35-year gold coupon paving bonds described in
and light-improvement
V. 89, p. 795, were awarded to Kountze Bros. of New York for sale $30,000 43% 20-year water
City at 103.63 and accrued interest. The following bids bonds. J. R. Swartzel is City Clerk.
were also received.
Camden City, N. J.-Bond Offering.-Proposals will be
102.37
Blodget. Merritt & Co.. N.Y_ _103.33 A. 13. Leach & Co., N.Y
received until 8 p. m. Oct. 25 by James E. Hewitt, Chairman
Bay County (P. 0. Bay City), Mich.-Bond Sale.-On. Finance Committee of the City Council, for $60,000 4%
Oct. 11 the $25,000 14-year coupon refunding bonds de- dock and wharf bonds.
scribed in V. 89, p. 549, were sold to the First National Bank
Authority an Act of the Legislature approved March 17 1898: also eleoof Detroit at 102.21 for 4s. Purchasers to pay accrued tIon held Nov. 3 1908. Date Aug. 1 1909. Interest semi-annual. Maturity
20 years. Certified check on a national bank for 2% of bonds bid
interest and furnish blank bonds free. A list of the bids for; payable
to the City Treasurer. Is required.
received follows:
Carbon Hill, Walker County, Ala.-Bond Election.-Re•$25,552 50
First National Bank, Detroit (tor 4s)
•25,293 00 ports state that a $25,000 water-and-light-plant bond elecHarris Trust & SAviars Bank, Chicago (for 4s)
•25,284 75
N. W. Halsey & Co., Chicago (for 4s)
•25,187 50 tion will be held Oct. 30.
F. Seagrave & Co.. Detroit (for 4s)
•25,165 00
Seasongood & Mayer. Cincinnati (for 48)
Chickasha, Grady County, Okla.-Bond Sale.-It is
•25,026 00
Farwell Trust Co.. Chicago (for 45)
25,512 50 reported that an issue of $190,000 water and sewer extension
W. E. Moss & 00., Detroit (for 4 gs)
00
•26,300
Reynolds, Watson & Co., Chicago (for 4)s)
'25.760 00 bonds has been sold.
E. H. Rollins ix Sons. Chicago (for 4 gs)
25.508 00
O. E. Denison & Co.. Cleveland (for 43s)
Cincinnati, Ohio.-Bond Sale.-A list of the bids sub27,000 00
'rhos. J. Bolger Co., Chicago (for 5s)
26,301 00 mitted on Oct. 11 for the five issues of 4% coupon bonds,
John Nuveen & Co.. Chicago (for 5s)
'25,255 00 aggregating $735,000, described in V. 89, p. 738, follows:
S. A. Kent & Co.. Chicago (for 5s)
• Also furnish blank bonds free.
All bidders offer accrued interest in addition to their bids.
Bayonne, Hudson County, N. J.-Bond Offering.-Proposals will be received until 8 p. m. Oct. 21 by Chas. E.
school bonds.
Annett, City Comptroller, for $60,500 4
Denomination $1,000, except one bond for $500. Date Sept. 1 1909.
Interest in Jan. and July at the Bayonne Trust Co. Maturity Sept. 1 1929.
Certified check for 2% of amount bid is required. Bonds will be certified
as to genuineness by the Columbia Trust Co. of New York.
$35,000
bonds,
$
Queen City Say. dr Tr.Co., C1ne_35,265 00
Western-German Bk..)
German Nat. Bank__ }CineinWell, Roth & Co
nail _35,205 00
Seasongood & Mayer.)
Field, Long itreth & Co., Mein_
Union Say. Bk. & Tr. Co.)
jCine 35.050 00
Breed & Harrison
Fifth-Third Nat. Bk., Cinein_.1
Hayden. Miller & Co., Cleve__ }35.060 55
Rhoades & Co., New York____)
C. E. Denison & Co., Cleveland_
925,500
bonds,
$25,000
bonds.
1550.000 $100,000
bonds.
bonds.
25.954 15 25,445 00 557,755 75 102,226
26,057 00 25,526 00
25,765 00 25,255 00 554.555 00 101,055
25,708 31 25,204 25 554.493 50 100,817
Beckley, Raleigh County, W. Va.-Bonds Not Sold.-No
sale has yet been made of the $60,000 5% 10-30-year (op101,883
tional) coupon street-improvement bonds proposals for which
Clarksburg, Harrison County, W. Va.-Bond Offering.were asked until Sept. 22.
The following 434% gold bonds, voted on Sept. 13 (V. 89,
Authority vote of 379 to 25 at election held June 19 1909. Denominap. 738), will be sold at public auction on Nov. 5: $170,000
tion $1,000. Date Sept. 23 1909. Interest annually at the City Re
for
valuation
Assessed
issue.
nil
1909.
de)t,
1
Bowie
corder's office.
for water, $51,600 for sewers and $48,400 for refunding
$1.379,890. Actual valuation (esti Tutted), 32.500,000.
purposes. Will H. Cole is City Clerk.
Bell School District (P. 0. Los Alamos), Santa Barbara
Cleveland, Bolivar County, Miss.-Bond Sale.-On Oct. 5
County, Cal.-Bond Sale.-C. E. Woodside & Co. bought
on Oct. 4 the $10,000 5% 1-10-year (serial) school-building F. L. Fuller & Co. of Chicago were awarded the $15,000
and ground-purchase bonds described in V. 89, p. 869, at 6% 20-year gold coupon water-works bonds described in
V. 89, p. 870, at 103 and accrued interest. Following are
101.45-a. basis of about 4.70%. Denomination $1,000.
bids:
the
Benoit, Bolivar County, Miss.-Bond Offering.-Proposals F. L. Fuller & Co., Chicago_$15,4501John Nuveen & Co., Chic_215,006 00
will be received until Nov. 2 by M. M. Thompson, Mayor, C.
H. Coffin & Co., Chicago_ 15,301 Hibernian Bank & Trust
15.000 00
for $10,000 5% water-works bonds. The town reserves the S. A. Kean & Co., Chicago__ 15.300 Company
right to reduce the amount of bonds to be issued to $8,000,
Coldwater School District (P. 0. Coldwater), Mercer
If said amount should cover the cost of the plant.
County, Ohio.-Bond Sale.-On Oct. 4 an issue of $1,000
Benton Township School District No.4(P.0. Potterville), 5% school bonds was awarded to the Peoples Bank Co. of
Eaton County, Mich.-Bond Sale.-On Oct. 10 the $8,000 Coldwater at par.
Denomination $500. Date Oct. 4 1909. Interest semi-annual. Ma2-11-year bonds mentioned in V. 89, p. 946, were awarded
turity In 1919 and in 1920.
to the Bumpus-Stevens Co. of Detroit at 100.1875.
Coleraine, Itasca County, Minn -Bond Offering.-ProposBethany Township (P. 0. Statesville), Iredell County,
will be received until 8:30 p. m. Oct. 27 by W. J. Stock,
als
held
Oct.
election
6
-The
89,
Voted.
(V.
-Bonds
No. Car.
Village Clerk, for $40,000 5% jail, village-hall and fire-hall
the
of
proposition
favor
in
5
to
76
of
vote
resulted
a
in
p. 869)
to issue the $12,500 5% 30-year bonds to aid in the con- bonds.
Authority election held Aug. 19, vote of 85 "for" to none "against."
struction of the Statesville Air Line Railway. These bonds Denomination
$1,000. Interest semi-annual. Maturity $2,000 yearly
from
1911 to 1919 inclusive and $22,000 in 1929, bonds unpaid after 1919
through
the
graded
is
"road
will not be issued until the
being subject to call. Certified check for $800, payable to the Village
township."
Council. is required. These bonds were offered on Sept. 15, but all bids
Big Stone Gap, Wise County, Va.-Bond Election.-An received on that day were rejected. See V. 89, p. 795.
Columbia, Marion County, Miss.-Bond Offering.-W. L.
election will be held Oct. 26 to vote on propositions to issue
bonds for the following purposes: $22,000 to improve the Simmons, City Clerk, is offering at private sale the $6,000
streets and sidewalks; $4,000 to build a town-hall and jail, water-works and the $5,045 72 funding 6% coupon bonds
voted on Sept. 18.
and $4,000 to repair and extend the sewers.
Denomination $1,000. Date day of issuance. Maturity 20 years.
Black River, Jefferson County, N. Y.-Bond Offering.- Bonds
are free from all taxes.
Proposals will be received until 6 p. m. Nov. 1 by the PresiColumbus, Ohio.-Bonds Authorized.-An ordinance was
dent of the Board of Trustees for $27,000 gold coupon passed by the City Council on Oct. 4 providing for the
water-system bonds.
issuance of $11,000 4% coupon storm-water-drainage bonds.
Interest (rate to be named by bidder) on June 1 and Dec. 1. Maturity
31.0thi yearty on Dee. 1 from 1913 to 1939 inclusive. A. W. Hadsall is
Village Clerk.
Denomination $1,000. Date not later than Dec. 1 1909. Interest
semi-annually at the City Treasurer's office. Maturity Sept. 1 1921.
Bond Offering.-Proposals will be received until 2 co. m.
Boulder, Colo.-Bond Sale.-We see it reported that an
offer of 100.60, submitted by the National State Bank of Oct. 19 by Martin A. Gemunder, Secretary Sinking Fund
Boulder, has been accepted for $5,000 bonds of Improvement Trustees, for the following 4% bonds:
a$25,000 W. District engine-house-equipment bonds dated April 1 1909.
District No. 4.
Maturity Oct. 1 1939.
Bowling Green, Ohio.-Bond Election.-An election will a50,000 public-Improvement No. 18 (city's portion) bonds dated March 1
Maturity March 1 1920.
be held, it is stated, to vote on a proposition to issue $25,000 a50,000 1909.
public-Improvement No. 17 (city's portion) bonds dated Jan. 30
sewage-disposal-plant bonds.
1909. Maturity March 1 1920.
690.000 grade-crossing bonds dated Dec. 26 1907. Maturity Oct. 11047.
Bowman,No.Dak.-Bond Sale.-This city has sold $8,000 al50,000
High St. viaduct bonds dated July I 1909. Maturity July 1 1920.
b9,000 Linwood Ave bonds dated Oct. 311007. Maturity Sept. 1 1920.
water bonds.
011,000 Hawthorne Ave. bonds dated July 6 1908; Maturity Sept. 11920.
Brady School District (P.0. Brady), Tex.-Bond Election. b13,000 Yale Ave. bonds dated July 6 1908. Maturity Sept. 1 1920,
69,000 Main Street bonds dated Oct. 311900. Maturity Sept. 1 1920.
--Reports state that a $15,000 school-building bond election 520,000
Dublin Ave. bonds dated July 6 1908. Maturity Sept. 11920.
Nvill be held Nov. 9.
512,000 McAllister Ave. bonds dated Oct. 311908. Maturity Sept. 11920.
b14,000 Mohawk St. bonds dated June 30 1908. Maturity Sept. 11010.
Burlington School District (P. 0. Burlington), Iowa.- 613,000 Siebert Street bonds dated June 14 1909. Maturity Sept. 11921.
011,000 Kimball Place Ave. bonds dated May 10 '09. Maturity Sept. 1921.
Bond Sale.-This distriot has sold $200,000 bonds recently 025.000
Central Ave. bonds dated May 10 1909. Maturity Sept. 1 1921.
voted.
013,000 Mithoff Street bonds dated Aug. 2 1909. Maturity Sept. 11921.
liButler, /ad.-Bond Sale.-The successful and only bid
a Interest is payable at the agency of Columbus in New York 01W.
received on Oat. 11 for the $3,000 5% 1-6-year (serial)
8 Interest is payable at the City Treasons's office.
THE CHRONICLE
1024
The first-mentioned issue is In denominations of $500 each, while the
remaining issues are in denominations of $1,000 each. Interest semiannual. Bonds are tax-exempt and will bc delivered Oct. 29 1909. Bid
must be made on each Issue separately, on a blank form furnished by the
Trustees. Certified cheek for 2% of bonds bid for, drawn on some local
bank and made payable to the Sinking Fund Trustees, Is required. Official
circular states there has never been any default in the payment of principal
or interest. These are not new issues but bonds held by the Sinking Fund
as an investment.
Cordele, Crisp County,Ga.-Bonds Defeated.-The election
held Oct. 7 (V. 89, P. 239) resulted in the defeat of the
proposition to issue the $15,000 school bonds.
Craton,Allegheny County,Pa.-Bond Sale.-The $35,000
4% coupon funding bonds offered on August 3 and described
in V. 89, p. 301, were awarded on that day to Otis & Hough
of Cleveland at par and interest.
Crosby County (P. 0. Emma), Tex.-Bonds Defeated.We see it reported that the voters of this county on Oct. 2
defeated a proposition to issue $5,000 road and bridge bonds.
Cuero, Dewitt County, Tex.-Bond Offering.-Proposals
will be received until Nov. 1 for $17,000 5-30-year refunding
and 817,000 5-40-year water-works-improvement bonds.
Mention of the latter was made in V. 89, p. 947.
Date Oct. 15 1909. Interest semi-annual. The city reserves the privilege of redeeming either issue afteril 5 years. J. C. Woodworth Is Mayor.
Dallas, Gregory County, So. Dak.-Bond Offering.-Proposals will be received until 8 p. m. Nov. 1 by Don H. Fiste,
City Auditor,for $14,500 5% gold coupon water-works bonds.
Authority, Sections 1:591-92-93, Political Code. Denomination $500.
Interest semi-annually In Dallas. Maturity 20 years. Certified check for
$1,450, payable to the City Auditor, is required. Bonded debt, including
this issue, $22,000. Assessed valuation $220.000.
Dawson Independent School District (P. 0. Dawson),
Clay County, Tex.-Bonds Registered.-An issue of $12,000
5% 20-40-year (optional) bonds was registered by the
State Comptroller on Oct. 4.
Decatur, Macon County, Ill.-Price Paid for Bonds.-We
are informed that the price paid for the $75,000 4% coupon
water-works-extension bonds disposed of to the Harris Trust
& Savings Bank of Chicago (V. 89, p. 947) was par and interest. They were sold "about Sept. 28."
Devil's Lake School District (P. 0. Devil's Lake), Ramsey County, No. Dak.-Bond Sale.-The $25,000 4% 20year funding bonds voted on Sept. 3 (V. 89, p. 947) have
been sold to the State of North Dakota.
Douglas, Ariz.-Bond Election.-A $400,000 water-works
bond election will be held Oct. 16.
Douglas, Converse County, Wyo.-Bond Offering.-Proposals will be received until Nov. 1 for $5,000 5% 10-30-year
refunding water-works bonds. F: H. DeCastro is Town Clerk.
Dover, Kent County, Del.-Bond Sale.-On Oct..14 $75,000 43/% 20-50-year (optional) coupon street and improvement bonds were awarded to N. W. Halsey & Co. of New
York City at 101.158 and accrued interest. Following are
the bids:
N. W.Halsey & Co., N. Ya101.1581Equitable Guarantee & Trust
a par.
Co., Wilmington
Kountze Bros., New York_ _ _100.76
Forrest & Co., New York___a100.685 Grand Lodge, A.0. U. W.of
598.75
Delaware
a And accrued interest. h For $ ,000 bonds.
These bonds were offered without success as 4s on Oct. 4.
El Dorado Independent School District (P.0. El Dorado),
Schleicher County, Tex.-Bond 011ering.-Proposals will be
received at once for the $20,000 5% school-house bonds registered (V. 89, p. 871) on Sept. 20.
Authority, vote of 77 'for" to none "against" at an election held July 17
1009. Denomination $1,000. Date Aug. 1 1909. Interest annually in
New York or in Austin. Maturity 40 years, subject to call after 5 years.
The district has no debt at present. J. B. Christian is Secretary of the
Board.
Ellis County Road District No. 1, Tex.-Bonds Registered.
-On Oct. 4 the State Comptroller.registered $250,000 5%
10-40-year (optional) bonds of this district.
El Paso, El Paso County, Tex.-Bond Election.-An
election will be held Nov. 9 to vote upon the question of
issuing $110,000 5% 20-40-year (optional) street-opening
bonds.
Ennis, Tex.-Bonds Voted.-We see it reported that the
election held Oct. 5 resulted in a vote of 211 "for" to 46
"against" the proposition to issue the $12,000 6% 10-40year (optional) water-works-system bonds mentioned in
V. 89, p. 678.
Eugene School District No. 18 (P. 0. Eugene), Lane
County, Ore.-Bond Sale.-An issue of $1,500 6% schoolfurnishing bonds was recently disposed of to the Oregon
State Land Department.
Denominations $1,000 and $500.
annual. Maturity 20 years.
Date Sept. 1909.
Interest semi-
Fargo, No. Dak.-Bond Election.-A proposition to issue
$65,000 4% water-works and filtration-plant bonds will be
submitted to a vote of the people on Oct. 26. Maturity
$20,000 in 5 years, $20,000 in 10 years and $25,000 in 15
.
years.
Faulkton, So. Dak.-Price Paid for Bonds.-We are informed that the State School Fund paid par for the $15,000
5% 12-20-year (optional) water bonds awarded them on
Sept. 19. See V. 89, p. 948. Interest Jan. and July.
Garden City, Kans.-Bonds Voted.-An election held
recently resulted, it is stated, in favor of a proposition to
issue $35,000 high-school-building bonds.
Gary, Ind.-Purchasers of Bonds.-The First National
Bank of Gary was the successful bidder for the $10,000 432%
10-year fire-station and equipment bonds, the sale of which
was mentioned in V. 89, p. 948. We are informed that they
!VOL. LXXX1X
were sold at 106.91. Denomination $500. Date Aug. 1
1909. Interest Jan. and July.
Glynn County (P. 0. Brunswick), Ga.-Bond Election.An election will be held next month,according to local papers.
to allow the voters to determine whether or not 850,000
bonds shall be issued to aid in the construction of the Georgia
Coast & Piedmont Railroad.
Greeley-Poudre Irrigation District(P.0. Greeley), Colo.Bonds Voted.-According to local papers, an election held
Oct. 4 resulted in a vote of 189 "for" to 4 "against" a proposition to issue $5,100,000 6% bonds for the construction of
a full system of irrigation works.
Greensville County (P. 0. Emporia), Va.-Bond Offering.
-Further details are at hand relative to the offering on Oct.18
of the $80,000 4y% coupon (with privilege of registration) road-improvement bonds mentioned in V. 89, p. 948.
Proposals will be received until 12 m. on that day by W. R.
Cato, Agent Board of County Supervisors, care of E. Peyton
Turner, Clerk of the Board. The bonds are issued to improve the following districts: $33,000 for the Belfield Magisterial District, $29,003 for the Hicksford Magisterial District
and $18,000 for the Zion Magisterial District.
Authority, election held May 20 1909: also an Act of the General Assem•
bly approved Feb. 25 1908. Denomination $1,000. Interest Jan. 1 at the
County Treasurer's office in Emporia. Maturity Nov. 1 1943, subject to
call after Nov. 1 1919. Bid to be made on a blank form furnished by the
Supervisors and be accompanied by a certified check for $1,000, made
payable to the County Treasurer. Bonded debt, including this issue,
$130,000. The opinion of W. Samuel Goodwyn of Emporia as to the legality of the bonds will be furnished to the purchaser. Accrued interest
to be paid by the successful bidder.
Henderson County Common School District, Tex.-Bonds
Registered.-On Oct. 7 the State Comptroller registered
$1,500 5% 5-20-year (optional) bonds.
Henryetta, Okmulgee County, Okla.-Bond Sale.-This
place has sold $50,000 water-system bonds.
Hereford Independent School District (P. 0. Hereford),
Deaf Smith County, Ohio.-Bonds Registered.-The State
Comptroller registered an issue of $25,000 5% 20-40-year
(optional) bonds on Oct. 7.
Hernando County (P. 0. Brooksville), Fla.-Bonds Defeated.-The proposition to issue the $25,000 hard-road
bonds mentioned in V. 89, p. 551, was defeated at the election held Oct. 2.
Hickman County (P. 0. Centerville), Tenn.-Bonds
Authorized.-Reports state that the County Court has
authorized the issuance of $45,000 funding and $13,000
bridge-construction bonds.
Hollywood High School District, Cal.-Bonds Voted.Reports state that this district has voted to issue $100,000
bonds to erect a polytechnic high school.
Homestead, Allegheny County, Pa.-Bond Sale.-This
borough has disposed of $24,500 43,6% refunding bonds
due March 1 1934. Interest March and September.
Homestead School District (P. 0. Homestead), Pa.Bond Sale.-An issue of $25,000 43% funding,bonds was
recently sold. The bonds are dated July 1 1909 and mature
part yearly until 1934 inclusive.
Idaho.-Purchasers of Bonds.-The purchasers of the
fourteen issues of 4% 10-20-year (optional) coupon bonds,
aggregating $430,250, the award of which was mentioned
in V. 89, p. 948, were E. H. Rollins & Sons of Denver. The
securities were disposed of at par.
Jacksonville Independent School District (P. 0. Jacksonville), Cherokee County, Tex.-Bond Sale.-The $25,000 5%
10-40-year (optional)school-building bonds offered on Sept. 24
and described in V. 89, p. 739, have been bought by Jas.
H. Causey & Co. of Denver.
Johnstown, Cambria County, Pa.-Bond Sale.-The
8100,000 10-30-year (optional) street-improvement bonds
mentioned in V. 89, p. 303, have been sold.
Johnstown School District (P. 0. Johnstown), Cambria
County, Pa.-Bond Sale.-The $35,033 4% 5-30-year
(optional) school-improvement bonds offered on Juno 25
and described in V. 88, p. 1573, have been sold.
Joplin, Jasper County, Mo.-Bonds Voted.-A proposition
to issue $50,000 sanitary-sewer-system bonds carried by a
vote of 1,557 to 284 at an election held Oct. 5.
Kansas City, Wyandotte County, Kans.-Bond Election.
-The propositions to issue the $200,000 bonds for a new
city-hall, $30,000 for a work-house and $60,000 for three
new fire stations (V. 89, p. 872) will be voted upon Nov. 2.
Kelso, Cowlitz County, Wash.-Bond Sale.-S. A. Kean
& Co. of Chicago are reported as being the successful bidders
on Oct. 5 for the $25,000 5% gold registered city-hall and
park bonds described in V. 89, p. 872. Maturity $12,500
in 1919 and $12,500 in 1929.
Kenmore Union Free School District No. 1 (P. 0. Kenmore), Erie County, N. Y.-Bond Offering.-Proposals will
be received until 11 a. m. Oct. 20 by E. L. Campbell, Secretary-Treasurer Board of School Trustees, for $55,000 school
and site bonds at not exceeding 6% interest.
Authority Section 430, Education Laws. Denominations 20 bonds of
$500 each and 20 bonds of $2,250 each. Date Oct. 4 1909. Interest
annual. Maturity part yearly for 20 years. Certified check for 10%,
payable to the Board of Education, Is required. Total bonded debt, including this issue, $60,500. Assessed valuation $1,668,796 50. Actual
Value (estimated) $3,000,000. Official circular states there is no litigation
pending affecting the legality of the issue. It farther states that therm has never been any default In the payment of principal or Interest.
Oer. 16 19010.
THE CHRONICLE
1025
Bros. of
$6,000 street-improvement bonds awarded to S. M. Kitzmiller &
The official notice of this bond offering will be found among
Shippensburg at 101.311. Maturity Jan. 1 1938, subject to call
after Jan. 1 1923.
the advertisements elsewhere in. this Department.
3,000 bonds awarded to local investors. Maturity Jan. 1 1922, subject
La Grange School District No. 102 (P. 0. La Grange), to call at any time.
Cook County, Ill.-Bond Sale.-This district has disposed of
Minot, Ward County, No. Dak.-Price Paid for Bonds.The City Auditor informs us that the $115,000 refunding
$30,000 4% bonds at par and accrued interest.
in 1912;
Denomination $1,000. Date Sept. 1 1909. Maturity $4,0001918, and bonds recently sold to the State of North Dakota (V. 89, p.
$3,000 in each of the years 1913, 1914, 1916 and 1917; $4,000 in
873) were disposed of as 4s.
$5,000 in each of the years 1919 and 1920.
Denomination $1,000. Date Sept. 11909. Interest April 1. Maturity
-On
Sale.
-Bond
Ohio.
County,
Cuyahoga
Lakewood,
20 years.
Ave.
Newman
(serial)
1-10-year
5%
$17,970
the
Oct. 11
Mobile, Ala.-Bond Sale.-An issue of $247,000 paving
paving assessment bonds, described in V. 89, p. 740, were
has been sold to the First National Bank of Cleveland
bonds
103.717
at
Cleveland
of
Co.
&
Miller
Hayden,
to
awarded
a
"at
premium."
received:
were
bids
following
The
interest.
accrued
and
Hayden,Miller& Co., Cley.$18,638 00 Well,Roth& Co., On
Montgomery, Ala.-Bond Sale Not Consummated.-We are
0
85
10
05
8:43
$18
Co1
First Nat. Bk., Cleveland. 18,624 00 New First Nat. Bk.,l_
18,070 00 advised that the sale on Aug. 30 of $50,000 5% paving bonds
Otis & Hough, Cleveland_ 18,515 00 W. R. Todd & Co., Cin__ _
(V.89, p. 614) has not
Lawrence County (P.0.Ironton), Ohio.-Bond Offering.- to Hunt & Cushman of New York City bonds were prepared
. At the time the
been
consummated
County
the
m.
2
by
12
Nov.
until
received
be
will
Proposals
the Municipal Code provided that they could be redeemed
Commissioners for $50,000 4% coupon turnpike bonds.
by the city at any interest period by the payment of one-half
Authority Sections 4758-9, 4763-4, 4766 and 4768-9, Revised Statutes.
at the of a year's interest. The bonds were sold containing this
Denomination $1,000. Date Sept. 1 1009. Interest semi-annually
1
March
from
six
months
each
$5,000
County Treasurer's office. Maturity
bid for, provision, but it was subsequently discovered that the Legis1929 to Sept. 1 1933 inclusive. Certified check for 2% of bonds
County lature, prior to the date of award, had changed the propayable to the County Treasurer, is required. A. C. Robison is
Auditor.
visions of the Code so as to make bonds issued under it subCounty,
Lexington Township (P.O.Lexington), Davidson
to redemption at any interest period by the city's paying
ject
89,
No. Car.-Bonds Voted.-The election held Oct. 12 (V.
only one-fourth of a year's interest. Thus the city could not
the
p. 949) resulted in favor of the proposition to issue
deliver a bond containing an optional clause differing from
$100,000 road bonds at not exceeding 5% interest. The that provided in the revised Code.
vote was 439 "for" to 321 "against."
Montpelier, Vt.-Bond Sale.-The $120,000 4% coupon
Longview, Gregg County,Tex.-Bonds Registered.-Issues or registered city-hall bonds offered on July 14(V.89, p. 118)
5%
-works
water
$1,996
and
provement
of $30,000 street-im
have been sold.
20-40-year (optional) bonds were registered on Oct. 5 by
Mt. Oliver, Allegheny County, Pa.-Bond Offering.-Prothe State Comptroller.
posals will be received until 8 p. m. Oct. 18 (date changed
Bonds.
Los Angeles, Cal.-Additional Sales of Owen River
from Oct. 10) by Frank Kruse, Chairman Finance Committee,
Up to Oct. 5 there had been delivered $10,825,600 of the for the $75,000 4% coupon sanitary-sewer bonds.
As
bonds.
$23,000,000 Owens River acqueduct system
Denomination $1,000. Interest semi-annual. Maturity $15,000 on
stated in July 1908 (V. 87, p. 183), an option was given to Jan. 1 in each of the years 1915, 1920, 1925, 1930 and 1935. Bonds are
on
frotn State tax. Certified check for $1,000 is required. Bonds
exempt
City
Kountze Bros. and A. B. Leach & Co. of New York
will be delivered Jan. 11910.
$17,886,400 of the issue which remained unsold at the time.
Mt. Penn, Berks County, Pa.-Bonds Authorized.-This
We are advised by the city officials that the bonds sold were
borough recently authorized the issuance of $10,000 4%
taken up at the following dates:
the
$34,000 bonds. They will be disposed of from time to time as
$510,000 April 17 1908 (4s)
Dec. 31 1907 (4s)
136,000 money is needed.
30,000 April 23 1008 (4s)
Mch. 5 1908 (45)
34,000
(4s)
1908
13
4,000 May
Mch. 6 1908 (4s)
Mt. Pleasant, Mich.-Bonds Voted and Sold.-An election
6,800
10.000 June 11 1908 (4s)
Mch. 9 1908 (45)
6,800 held Aug. 30 resulted in a vote of 293 to 94 in favor of a
58,000 July 3 1908 (4s)
Mch. 16 1908 (4s)
2,040,000
34,000 Aug. 31 1908 (4 As)
Mch. 18 1908 (4s)
2,040,000 proposition to issue $5,000 4% 1-10-year (serial) bonds
68,000 Jan. 19 1909 (4 Xs)
Mch. 19 1908 (4s)
2,856,000 dated Dec. 31 1909 to purchase grounds for parks. The
68,000 May 14 1909 (4 ;is)
Mch. 20 1908 (4s)
2,856,000
34.000 Sept. 13 1909 (4
Mch. 24 1908 (4s)
grounds have been purchased from I. A. Faucher, who took
Louisville, Stark County, Ohio.-Bond Offering.-Pro- the bonds in payment for the same.
posals will be received until 12 m. Nov. 15 by Harry L.
Newbern, Craven County, No. Caro.-Bonds Voted.-The
Rebrassier, Village Clerk, for the $32,000 4% sewer-con- proposition to issue the $50,000 5% 30-year street-paving
struction bonds voted (V. 89, p. 679) on Sept. 8.
bonds mentioned in V. 89, p. 950, was favorably voted upon
$500. Date
Authority Section 2837, Revised Statutes. Denomination
12. The vote was 327 to 60.
Oct.
1
on
Oct.
yearly
$1,000
Maturity
semi-annual.
Interest
Oct. 1 1909.
bonds bid for,
from 1915 to 1946 inclusive. Certified check for 10% of to
Scotland School District No. 10, Albany County,
New
pay accrued
payable to the Village Treasurer, is required. Purchaser
N. Y.-Bond Sale.-On Oct. 4 an issue of $3,000 5% schoolinterest.
Savings Bank of
Luling, Caldwell County, Tex.-Bond Offering.-Pro- repairing bonds was awarded to the Home
100.333.
posals will be received until Nov. 8 for the $10,000 5% 5-40- Albany for $3,010, the price thus being
Denomination $100. Date Nov. 1 1909. Interest annually on Aug. 1.
year (optional) school-building bonds authorized by a vote Maturity
part yearly on Aug. 1 from 1910 to 1915 inclusive.
of 40 to 5 at the election held Sept. 14.
New Wilmington School District (P. 0. New Wilmington),
election
-An
Postponed.
Election
Mo.-Bond
Malden,
Lawrence County, Pa.-Bond Election.-An election will be
which was to have taken place Oct. 4 to vote on the question held Nov. 2 to vote upon the question of issuing $15,000 5%
of issuing $29,000 public-improvement bonds was post- school-building bonds. Maturity 20 years, subject to call
poned. We are informed that it will probably be held next one bond each year after 1914.
month.
North Attleborough, Bristol County, Mass.-Bond OfferMansfield, Ohio.-Bond OfIcring.-Proposals will be re- ing.-Proposals will be received until 12 m. Oct. 19 by
City
W.
Auditor,
S.
Bradford,
by
5
ceived until 12 in. Nov.
F. T. Westcott, Town Treasurer, for $122,000 4% coupon
for $12,000 4% water bonds.
sewer
bonds.
City
Treasthe
at
1
Sept.
1 and
Denomination $1,000. Interest March
1922 incluurer's office. Maturity $1,000 yearly on Sept. 1 from 1911 to
bonds bid for
sive. Certified check on any bank in Mansfield for 10% of be uncondiis required. Purchaser to pay accrued interest. Bid must
tionll and mlcie on form furnished by the City Auditor.
Mansfield Independent School District (P. 0. Mansfield),
Tex.-Bonds Registered.-On Oct. 7 the State Comptroller
registered the $15,000 5% 20-40-year (optional) bonds recently voted. V. 89, p. 179.
Marion County (P. 0. Marion), Ohio.-Bond Offering.Proposals will be received until 12 in. Nov. 1 by Edward S.
Ault, County Surveyor, for $2,900 5% coupon Guthery Free
Turnpike Road bonds.
Authority Section 4808, Revised Statutes. Denominations $75, $85.
490, $100, $110, $115, $120, $125 and $140. Date Nov. 1 1909. Interest
March 1 and Sept. 1 at the County Treasurer's office. Certified check for
$100, payable to the Board of County Commissioners, drawn on some bank
in Marlon, is required. The bonds mature as follows
$100_Mch. 1 1910 190..Sept. 1 1913 $110.Mch. 1 1917 $125_Sept. 1 1920
75_Sept. 1 1910 100_Mch. 1 1914 110_Sept. 1 1917 140_Mch. 1 1921
75_Mch. 1 1911 100_Sept. 1 1914 120_Mch. 1 1918 140_Sept. 1 1921
85_Sept. 1 1911 100_Mch. 1 1915 120_Scpt. 1 1918 140.Mch. 1 1022
85_Mch. 1 1912 100_Sept. 1 1915 120_Mch. 1 1919 140_Sept. 1 1922
85_Sept. 1 1912 100_Mch. 1 1016 120.Sept. 1 1919 115_Mch. 1 1923
90..Mch. 1 1913 100_Sept. 1 1916 125_Mch. 1 1920
The bonds will be delivered on Nov. 14 1909.
Bond Sale.-It is stated that on Oct. 7 the New First National Bank of Columbus purchased $6,000 5% Holland pikeroad bonds at 102.25.
Marysville School District, Yuba County, Cal.-Bond
011ering.-Proposals will be received until Nov. 1 for the
$31,000 grammar-school and the $49,000 high-school bonds
recently voted.
Mechanicsburg, Cumberland County, Pa.-Bond Sale.The following 4% bonds, a description of which was given in
V. 89, p. 797, were sold on Sept. 27:
Authority Chapter 269, Acts of 1909. Denomination $1,000. Date
Nov. 1 1909. Interest semi-annually in Boston. Maturity on Nov. 1 as
follows: $9,000 yearly from 1910 to 1919 inclusive and $8,000 yearly from
1920 to 1923 inclusive. Bonds are exempt frotn taxes in Massachusetts.
They will be certified as to genuineness by the City Trust Co. of Boston,
which will further certify that the legality of the issue has been approved
by Ropes, Gray & Gorham of Boston. Bonds will be ready for delivery
on Nov. 1.
Norwalk, Fairfield County, Conn.-Bonds Not Sold.-No
satisfactory bids were received on Oct. 11 for the $70,000 4%
25-year coupon (with privilege of registration) water-works
bonds described in V. 89, p. 874.
Oconomowoc, Wis.-Bids Rejected.-The following bids,
all of which were rejected, were received on Oct.8 for $10,000
4% sewerage bonds offered on that day:
Par, Less.
Par, Lets.
First Nat. Bank, Oconomowoc_ _$751N. W. Halsey & Co. Chic_ --$254 10
'
Sons,
s
n
i
l
o
R
&
Chic__
285 00
_142
S.
Harris Tr. & Say. Bank. Chic_
Odin, Watonwan County,Minn.-Bond Oftering.-Proposals will be received until 8 p. m. Oct. 22 for $3,000 6% villagehall and jail bonds.
Interest annual.
Maturity 10 years. 0. A. Kabrick Is Village Recorder.
Oklahoma County (P. 0. Oklahoma City), Okla.-Bond
Sale.-This county has sold $50,000 4M% 25-year funding
bonds dated Sept. 13 1909.
Painted Post, Steuben County, N. Y.-Bond Sale.-An
issue of $25,000 43% water bonds was awarded to Isaac W.
Sherrill of Poughkeepsie at 100.04.
Denomination $1,000. Date July 1 1909. Interest semi-annual.
Maturity $1,000 yearly from 1914 to 1938 inclusive.
Palmer Independent School District (P. 0. Palmer), Ellis
County, Tex.-Bonds Registered.-An issue of $12,000 5%
10-20-year (optional) bonds was registered on Oct. 8 by the
State Comptroller.
1026
TH,' CHRONICLE
(VOL. t.xxxix.
- Park City (P. 0. Knoxville), Knox County, Tenn.-Bond
South Bethlehem,
ton County, Pa.-Bonds AuSale.-On Oct. 11 the $14,000 funding and the $6,000 sewer- thorized.-OrdinancesNorthamp
were passed on Oct. 4 providing for
extension 5% 20-year bonds described in V. 89, p.
950, the issuance of $36,000 improvement and $22,500 refunding
were awarded to the Union Savings Bank & Trust Co.
of 4% 15-30-year bonds. They will be dated Nov. 1 1909.
Cincinnati at 102.56 and accrued interest.
South Myton
Irrigation District (P. 0. Myton),
Petrolia Independent School District (P.0. Petrolia), Clay Wasatch County,Bench
Utah.-Bonds Not Sold.-Up to Oct. 4 no
County, Tex.-Bonds Registered.-An issue of $10,000 5% award had been made
of an issue
of $100,000 coupon irrigation-works-construction bonds offered on Aug.
19.
Denomination $500. Date "day of sale." Interest (rate
to exceed
6%) in June and December at Heber. Utah. Maturity partnot
1919 to 1929 inclusive. The district has no debt at present. yearly from
10-40-year.(optional) bonds was registered on Oct. 4 by
the
State Comptroller.
Phillipsburg School District (P. 0. Phillipsburg), Montgomery County, Ohio.-Bond Sale.-On Oct. 9 the $2,000
5% school-building bonds described in V. 89, p. 874,
were
awarded to the New First National Bank of Columbus
at
102.089 and accrued interest. The bids were as follows:
New First Nat.Bk.,Colum_$2,041 78 Dayton Savings & Trust
Security Say. Bank & Trust
Co., Dayton
$2,002 00
Co., Toledo
2,021 00
Maturity $400 yearly from 1912 to 1916 inclusive.
F Plainville Special School District No. 7 (P. 0. Station
Cincinnati), Ohio.-Bond Offering.-Proposals
Spokane,
M,
Wash.-Bond Offering.-Proposals will be received until 11 a. m. Nov. 22 by the Sinking Fund Com_
mission at the office of Robert Fairley, City Comptroll
er,
for $500,000 bridge-construction and repair gold coupon
bonds at not exceeding 43% interest.
Date July 1 1909. Interest semi-annually at the fiscal agency of the
State of Washington in New York City. Maturity 25 years. Certified
check for 2% of bid is required. These bonds were offered as 48 (V.
89, P.
742) on Sept. 15.
will be received until 8 p. m. Oct. 21 by A. C. Youmans, Village
Clerk,
Official notice of this bond offering will be found among
for $12,000 4% school-building bonds.
advertisements elsewhere in this Department.
Authority Sections 3991 and 3992, Revised Statutes. Denominati
on $1,000. Date Jan. 1 1910. Interest semi-annually at the Fifth-Third
NaSpringfield, Hampden County, Mass.-Bond Sale.-Foltional Bank of Cincinnati. Maturity $6,000 on Jan. 1 in
of the years
1920 and 1930. Certified check for $500, payable to A.each
C. Youmans, is lowing is a list of the bids submitted on Oct. 12 for the $600,required. No debt at present. Assessed valuation $354,180.
000 332% 1-40-year (serial) municipal-building bonds the
Pleasant Hill, Miami County, Ohio.-Bond Offering.- $200,000 4% 1-10-year
(serial) North Street extension bonds
Proposals will be received until 12 m. Oct. 30 by
C. Roy and the $100,000 4% Lincoln School bonds, a descriptio
n of
Coppock, Village Clerk, for $1,500 5% coupon water-wor
ks which was given in V. 89, p. 875:
bonds.
Blake Bros. & Co., E. H. Rollins & Sons and A. B.9600,000_100.914
Authority Sections 2835, 28$5b, 2836 and 2837, Revised
Leach & Co., Boston
300,000_ _102.786
Denomination $500. Date Sept. 15 1909. Interest semi-annualStatutes.
ly at the Estabrook & Co., Biodget, Merritt & Co., Merrill, Old-Village Treasurer's office. Maturity $500 yearly on March 15 from
ham & Co. and R. L. Day & Co., Boston
900,00010
1917
1.15
to 1919 inclusive. Certified check for $75, payable to the Village
N. W. Harris & Co., Boston
900,000_100.274
Treas- Perry,
urer, is required. Bonded debt, including this issue, $17,000. No floating
Coffin & Burr, Boston
900,000_
_100.15
debt. Assessed valuation $250,000.
Adams & Co., Boston
I 200,000_ _101.671
100,000_103.41I
Portage, Columbia County, Wis.-Bond Offering.-Pro- Crocker & Fisher, Boston
300,000_102.53
posals will be received until 8 p. m. Oct. 25 by Fred F. Goss,
Stark
County
(P.
0.
Dickinson), No. Dak.-Bonds AuCity Clerk, for the $30,000 4
coupon sewer bonds voted
thorized.-Reports state that the County Commissioners have
(V. 89, p. 951) on Sept. 28.
authorized the issuance of $60,000 funding and road-imDenomination $1,000. Date Nov. 1 1909. Interest on
Feb. 1 and
Aug. 1 at the City Treasurer's office. Maturity
on Feb. 1 as follows: provement bonds.
$1,000 yearly from 1910 to 1919 inclusive and $2,000
yearly from 1920
to 1929 inclusive. The city reserves the right to redeem
Stevens County Drainage District No. 3, Wash.-Bond
bonds Nos. 23 to 30 due on Feb. 1 1926, 1927, 1928 and on Feb. 1 1925
1929. Certified Sale.-On Oct. 4 an issue of $76,000 4% bonds was disposed
check on a national or State bank for $1,000, payable to
the
City Treasurer, of to Folley
is required. Bids to be unconditional.
& Gleason. Denominations $100 to $1,000.
Interest annual.
Ravenna Township (P. 0. Ravenna),
Muskegon County,
Mich.-Bonds Defeated.-The election held Oct. 12 (V. 89,
p. 951) resulted in the defeat of the proposition to issue
$35,000 road-improvement bonds. The vote was 73 "for"
to
197 "against."
Reidsville, Northampton County, No. Caro.-Bonds Voted.
-According to reports a favorable vote was recently cast on
a proposition to issue $100,000 public-improvement bonds.
St. Clairsville, Belmont County, Ohio.-Bond -Offering.
Proposals will be received until 12 m. to-day (Oct. 16) by
Owen B. Nary, Village Clerk, for the following 43'% coupon
street-paving assessment bonds :
$1,488 96 Butler St. bonds. Denomination $74 45. Date Oct. 4 1909.
Maturity $74 45 each six months from Aug. 20 1910 to Feb. 20
1920 inclusive.
568 52 South Market St. bonds. Denomination $28 43. Date Oct.
4
1909. Maturity $28 43 each six months from Aug. 20 1910 to
Feb. 20 1920 inclusive.
745 53 North Market St. bonds. Denomination $37 28. Date
Oct. 4
1909. Maturity $37 28 each six months from Aug. 20 1910
to
Feb. 20 1920 inclusive.
8,058 42 South Sugar St. bonds. Denomination $402 92. Date
Oct. 14
1909. Maturity $402 92 each six months from Feb. 20 1910
to
Aug. 20 1919 inclusive.
7,560 00 North Sugar St. bonds. Denomination $378. Date
14
1909. Maturity $378 each six months from Feb. 20 Oct.
1910 to
Aug. 20 1919 inclusive.
Authority Sections 1536-281 Revised Statutes; Section 95,
Municipal
Code. Interest semi-annually at the Village Treasurer's office.
are exempt from taxes. Certified check for 5% of bonds bid for Bonds
payable
to the Village Treasurer, is required. Purchaser to pay accrued interest.
Salem,
Marion County, Ore.-Bonds Not Sold.-No sale
has yet been made of the $65,000 4% refunding
bonds
offered on Sept. 27. See V. 89; p. 798.
Sulphur Springs, Hopkins County, Tex.-Bond Offering.-
This city is offering for sale $10,000 5% coupon waterimprovement bonds.
Authority Article 486, Revised Statutes,
Denomination $500.
Date Oct. 1 1909. Interest annually at the 1895.
Hanover National Bank in
New York City. Maturity 40 years, subject to
call, one bond each year
after Oct. 1 1910, or all after Oct. 1 1919.
bid, payable to R. B. Keasier, Mayor, Cash deposit for 1% of amount
required. Bids must include
the cost of preparing and selling bonds,iswhich,
it is estimated, will be
about $100.
Sycamore Special School District (P. 0.
),
Wyandot County, Ohio.-Bond Sale.-DispatchesSycamore
state that
on Oct. 11 the $16,500 432% school-building bonds
described
in V. 89, p. 951, were purchased by Hoehler &
Cummings
of Toledo for $16,858 (102.169) and accrued interest.
Maturity $500 each six months from March 4 1911 to
March 4.
1927 inclusive.
Terre Haute, Vigo County, Ind.-Bond Sale.-On
Oct. 5
the $35,000 4% 20-year sewer bonds .described
in V. 89,
p. 875, were awarded to the Harris Trust &
Savings Bank
of Chicago at 101.52.
Thomaston, Upson County, Ga.-Bond Offering.-Pro-
posals will be received until 7:30 p. m. Nov.
2 for $15,000
6% school-building bonds.
Maturity $1,000 yearly from 1920 to 1934 inclusive.
Certified check
for $250 is required. Purchaser to furnish blank
bonds.
Twin Falls, Twin Falls County, Idaho.-Bond Sale.-
On Oct. 4 the two issues of 10-20-year (optional) coupon
bonds, aggregating $40,000, described in V. 89,
p. 875, were
Sapulpa, Okla.-Bond Election.-Local papers state that awarded to H. C. Speer & Sons Co. of
Chicago at 100.343
an election will be held to-day (Oct. 16) to vote on the
accrued
and
interest
for 5s. A list of the bidders follows:
following bonds: $250,000 to install a neww ater system,
$50,- H.C.Speer&SonsCo.,Chica$40,137 50 Thos.J.Bolger Co., Chic_c$41,140 00
000 for sewer extensions and $15,000 for an
N. W. Halsey & Co., Chic.a40.112 00 S. A. Kean & Co., Chlo._ c40,980 00
automobile Jas.H.Causey&Co.,Den
v. a40,015 00 C. H. Coffin, Chicago__ c40,801 00
fire engine.
E. H. Rollins & Sons, a39,225 00 Otis & Hough, CleveChicago
c41,625 00
Seattle, Wash.-Bond Sales for September.-The -following Ulen,
land
c40,465 00
Sutherlin 46 Co., 640,502 00 A. J. Hood & Company,
7% 5-year bonds, aggregating $106,675 56, were sold
Kansas City, Mo_
c41.612 00
Detroit
by
c40,045 00
A. B. Leach & Co., Chic_ b40.01500 John H. Sonntag & Co.,
this city during September:
Farson, Son & Co., Chic. c42,725 00
Chicago
c40,000 00
$6,843 77 cement-walk bonds dated Sept. 8 1909.
John Nuveen & Co.,
Benwell & Steel, Denver
4,695 36 sewer bonds dated Sept. 10 1909.
Chicago
c42,156 00
(for $5,000 bonds)____ c5,050 00
10,381 96 cement-walk bonds dated Sept. 13 1909.
10,162 68 cement-walk bonds dated Sept. 13 1909.
a For 5s. 0 For 530. c For 6s.
5,362 87 grade and curb bonds dated Sept. 16 1909.
9,093 11 water-main bonds dated Sept. 16 1909.
Waco, McLennan County, Tex.-Purchasers of Bonds.11,254 28 water-main bonds dated Sept. 20 1909.
Seasongood & Mayer of Cincinnati were the purchasers of the
3,563 43 grade and curb bonds dated Sept. 20 1909.
four issues of 5% bonds, aggregating $212,500, disposed
4,052 34 water-main bonds dated Sept. 20 1909.
of
1,001 80 water-main bonds dated Sept. 20 1909.
on Oct. 2. See V. 89, p. 952. They paid 107.40
and
4,890 27 grade and curb bonds dated Sept. 20 1909.
accrued interest. Denomination $1,000. Interest
2,598 91 cement-walk bonds dated Sept. 20 1909.
• Jan. 1
12,544 29 cement-walk bonds dated Sept.
and July 1. Maturity July 1 1939.
1909.
16,468 67 water-main bonds dated Sept. 2320
1909.
Withdraw
Bonds
n
from
the
Market.
L3.761 82 cement-walk bonds dated Sept. 23
-An issue of $50,000
1909.
Shelley School District No. 30 (P. 0. Shelley), Bingham 4% bridge bonds which was also to have been sold was
withdraw
from
the
n
market.
County, Idaho.-Bond Sale.-The following bids were reWashington, Beaufort County, No, Car.-Bond Offering.ceived on Oct. 9 for the $6,000 10-year coupon refunding
and
Proposals will be received until 12 m. Nov. 22 by W. B.
building bonds described in V 89, p. 875:
Windley, City Clerk,for $25,000 5% gold street-improvement
State Land Board, Boise_ _ _a$6.000 John Nuveen 46 Co., Chicago..b$6
,016
C. H. Coffin, Chicago
66,061 S. A. Kean, Chicago
bonds.
65,950
Francis W. Keller
66,060 ,
Authority Chapter 281, Private Laws, General Assembly, 1907. Denomination $100 to $1,000. Interest semi-annually. Maturity 50 years.
a For 5s. b For_63.
Certified check for,2% of bid, payable to the City Treasurer, is required.
THE CHRONICLE
OCT. 16 1909.
Washoe County (P. 0. Reno),-"Nev.-Bond7Sale.--This
county has disposed of $150,000 5% court-house bonds due
$10,000 yearly on Jan. 1 from 1920 to 1934 inclusive.
White Plains, N. Y.-Bond Sale.-On Oct. 12 the $33,000
432% 8-year tax-deficiency bonds described in V. 89, p. 876,
were awarded to the Yonkers Savings Bank of Yonkers at
102.362 and accrued interest-a basis of about 4.15%.
The other bidders were:
R. M. Grant & Co., New York101.77 li N. W. Harris & Co., N. Y_ _101.155
First Nat. Bank, Cleveland_101.55 Geo. M. Hahn, New York__100.43
Ferris & White, New York101.271 Parkinson & Burr, Boston__100.211
Certificate Sale.-On Sept. 24 the $17,000 sidewalk and the
$10,000 macadamizing and paving 5% 5-year certificates described in V. 89, p. 682, were awarded to Simons & Emanuel
of New York City at 103.157-a basis of about 4.291%.
Wilmington, Clinton County, Ohio.-Bond Sale.-The
$10,000 4% coupon street-improvement bonds described in
V. 89, P. 876, were sold on Oct. 8 to the Clinton County.
National Bank of Wilmington at 100.413 and accrued interest. Maturity part each six months from March 1 1911
to Sept. 1 1918 inclusive.
A bid at par for $3,000 bonds was also received from Lencinda Tucker.
Winfield School District (P. 0. Winfield), Kans.-Bond
Election.-Reports state that an election will be held Oct. 26
to vote on propositions to issue $70,000 bonds to build a
high school and $4,000 to purchase a site for the same.
Winston-Salem, No. Caro.-Bonds Voted.-This city
voted on Oct. 12, it is stated, to issue $140,000 refunding
railroad-aid bonds.
Wood County(P.O. Bowling Green), Ohio.-Bond Sale.The $50,000 5% coupon highway-improvement fund bonds
described in V. 89, p. 876, were sold on Oct. 11 to the First
National Bank of Cleveland at 102.088. Following is a list
of the bids received:
First Nat. Bk.. Cleveland.$51,044 00 I Davies& Bertram Co., Cin.$50,941 00
Ohio Sav.Bk.&Tr.Co.,Tol. 51,029 00 Well, Roth & Co., Cin_ __ _ 50,881 35
Hayden,Miller& Co., Clay. 51,022 50 Seasongood&Mayer, Cin__ 50,880 00
NewFirst Nat.Bk.,Columb.51,007 70 W.R. Todd & Co., Cin_ _ _ 50,400 00
Maturity $5,000 each six months from March 1 1910 to Sept. 1 1914
Inclusive.
1027
Canada,its Provinces and Municipalities.
Arcola, Sask.-Description of Debentures.-We are advised
that the $15,000 water-works debentures disposed of on
Sept. 7 to Nay & James of Regina (V. 89, p. 742) carry
6% interest and mature in 30 years.
Brockville, Ont.-Bonds Authorized.-A by-law has been
passed authorizing the issuance of $4,050 debentures to
purchase road-making machinery.
Chatham, Ont.-Debenture Sale.-An issue of $35,388 655% local-improvement debentures has been sold to C. H.
Burgess & Co. of Toronto. Maturity part yearly for 15
years. These bonds were disposed of last July (V.89, p. 66)
to Dyment, Cassels & Co. of Toronto. The award, however,
was subsequently rescinded.
Czernowitz School District No. 2341, Sask.-Debenture
Sale.-This district disposed of during September an issue
of $1,000 5% school-building and equipping debentures,
due part yearly for 10 years. They were bought by Nay &
James of Regina.
Dobronoutz School District No. 2368, Sask.-Debenture
Sale.-On Sept. 19 $1,400 5X% school-house and equipment debentures were awarded to Nay & James of Regina
for $1,483 50-the price thus being 105.964. Interest
annual. Maturity part yearly for 10 years.
Enderby, B. C.-Debenture Sale.-C. H. Burgess & Co.
of Toronto recently purchased $5,000 debentures due part
yearly for 20 years.
Flanderdale School District No. 1774, Sask.-Debenture
Sale.-School-building and equipping 6% debentures to the
amount of $1,400 were sold during September. They were
bought by Nay & James of Regina. Maturity part yearly
for 10 years.
Gosfield North, Ont.-Debenture Sale.-C. H. Burgess dz
Co. of Toronto were recently awarded $5,151 5% telephone
and drainage debentures.
Hamilton, Ont.-Debenture Sale.-The two issues of 4%
20-year coupon school bonds aggregating $80,000, offered
on Oct. 7(V.89, p. 801) have'
been awarded to the Dominion
NEW LOANS.
NEW LOANS.
NEW LOANS.
$25,000
Village of White Plains, N.Y.
$55,000
KENMORE, N. Y.,
$500,000
CITY OF SPOKANE
FIRE BONDS
Union Free School District No. I
NOTICE IS HEREBY GIVEN, pursuant to
provisions of the Village Law, that the Village
of White Plains will on the 20th day of October,
1909, at the Corporation Rooms in White Plains,
Westchester County. New York, at 8 p. m., sell
its fire department bonds amounting in the aggregate to $25,000, at not less than their par value,
to the person or persons who will take them at the
lowest rate of interest,not toexceed 5 per centum
per annum. Said bonds will be sold on sealed
proposals which will be opened at said time and
place. Each proposal must be accompanied by
a certified check upon a State or National Bank
or Trust Company for 5 per cent of the par value
of the bonds for which proposal is submitted.
In case such proposal is accepted, such check
shall be retained by the Village until completion
of the sale and delivery of the bonds, and in case
the proposal Is rejected, such check shall forthwith
be returned to the bidder.
For additional information, address, E.P.Hite,
Clerk of the Village of White Plains.
Dated, White Plains, N. Y., October 6th, 1909.
EARLE P. HITE, FREDERIC S. BARNUM,
Clerk.
President.
BONDS
25-Year
Bridge Construction & Repair Bonds
Sealed bids for $55,000 00 of school bonds will
be received by the Board of Education of the
Kenmore Union Free School District No. 1 on
October 20th, 1909, at 11 o'clock A. M.
Bids should be addressed to E. L. Campbell,
Secretary and Treasurer Board of Education,
Kenmore, N. Y., and must be accompanied by a
certified check to the order of the Board of Education, Kenmore, N. Y., for ten per cent of the
amount bid.
The Board of Education reserves the right to
reject any or all bids.
(Signed) BOARD OF EDUCATION,
E. L. CAMPBELL.
Secretary and Treasurer.
Kenmore, New York
October 11, 1909.
CANADIAN
Members New York Stock Exchange
PERRY, COFFIN & BURR
Investment Bonds
Investment Securities
60 State Street, Boston
HUNT, SALTONSTALL & CO.,
Formerly
.
RANKERS
Municipal and Seasoned
Corporation Bonds
FREE OF TAX
421 CHESTNUT ST.,
&
Co
Municipal ar.,1
Corporation Bonds
181 La Salle Street, - Chicago
PHILADELPHIA, PA
TORONTO, CANADA
CO.
60 STATE ••TREET. BOSTON
30 PINE STREET, NEW YORK
STATE, 4ITY & R IILROAD BONDS
MUNICIPAL {4%
RAILROAD
to
CORPORATION 6%
BONDS
Selected for Conservative Investors.
JOHN H. WATKINS BLACKSTAFF & CO.
MUNICIPAL
INVESTMENTS
AND
RAILROAD BONDS
1332 Walnut Street
PHILADELPHIA
No. 2 WALL STREET, NEW YORK
LIST OF SPECIALTIES ON RE:UESI
W. A. MACKENZIE & CO.,
BANKERS
McCOY MacDonald,
& COMPANY
McCoy
ItIt1E
MUNICIPAL BONDS
Blodget, Merritt &
60 STATE STREET
BOSTON
1
410
4
Sealed proposals will be received by the Sinking
Fund Commission of the City of Spokane, Washington, at the office of the City Comptroller, of
said city, up to 11 O'clock A. M. of the 22d Day
of November, 1909, for the purchase of all or any
portion of a $500,000 bond issue of said city.
Said bonds are issued by the said city to pay
for the construction and repair of bridges across
the Spokane River, and bear date of July 1, 1909,
and payable 25 years after said date, and draw
interest at a rate not to exceed 454% annually,
payable semi-annually at the fiscal agency of the
State of Washington in New York City.
Said Commission reserves the right to reject
any and all bids, and each offer must be accomt
panted by a certified check for 2% of the amounof the bid, and must be for at least par and
accrued interest.
ROBERT FAIRLEY,
City Comptroller
Lists Mailed Upon Application.
Lawrence Barnum & Co.
BANKERS.
PINE STREET, NEW YORK
Washington
Philadelphia
Pittsburgh
27-29
THE CHRONICLE
102S
[VoL. Lxxxix.
Securities Corporation, Ltd., of Toronto at 97.87 and 20 years and $9,761 for water-works, due part yearly for
30 years.
accrued interest. Following are the bids:
Dom.Sec. Corp., Ltd..Tor. 573,296 0 Brent, Noxon & Co., Tor. $ 7,150 00
Osgoode, Ont.-Debenture Sale.-Drainage 5% debentures
Aemilius Jarvis & Co., Tor. 77,901 60 Ont. Sec. Co., Toronto_ __ 77,107 00
Wood, Gundy & Co., Tor_ 77,704 00 C. H. Burgess & Co., Tor. 76,950 00 amounting to $4,429 have been bought by Aemilius Jarvis
Hanson Bros., Montreal __ 77.648 00 W. A. MacKenzie&Co-Tor.76,888 00 & Co. of Toronto. Maturity part yearly for 10 years.
Brouse, Mitchell & Co.,
Bank ot British North
Toronto
76,410 00
America, Hamilton__ _ 77,608 00
Salt Lake School District No. 2056, Sask.-Debenture Sale.
R. C. Matthews & Co., Tor.77,520 00 H. O'Hara & Co., Toronto 74,400 00
G. A. Stimson & Co., Tor. 77,336 00
& James of Regina purchased $800 53% school-buildNay
Interest
in addition to their bids.
All bidders offered accrued
Denomination $1,000. Date Aug 2 1909. Interest semi-annually at ing and equipping debentures during September. Maturity
the City Treasurer's office.
part yearly for 10 years.
Hanna School District No. 1946, Sask.-Debenture Sale.Saskatoon, Sask.-Bonds Voted.-This city recently
During September Nay & James of Regina were awarded voted to issue $70,000 subway-construction debentures.
4% school-building and equipment debentures.
$800 53
Somerville School District No. 1999, Alberta.-Debenture
Maturity part yearly for 10 years.
Sale.-We are informed that Nay & James of Regina purLansdowne School District No. 1511 (P. 0. St. Charles), chased $1,200 53
4% school-building andequipping debentures
Man.-Debenture Election.-An election will be held Nov. 2 during September. Maturity part yearly for 10 years.
to vote upon the question of issuing $2,000 school-buildSouth Vancouver, B. C.-Debentures Voted.-The issuance
ing debentures.
of $225,000 water-works-system debentures was authorized
Manor, Sask.-Debenture Sale.-The $3,000 5% de- at a recent election.
bentures mentioned in V. 89, p. 801, were sold on Oct. 4
United Counties of Prescott and Russell, Ont.-Debenture
to Hawkey, Somerville & Co. of Indian Head at 97.062. Sale.-The $13,000 5% bridge debentures mentioned in
Maturity part yearly for 15 years.
V. 89, p. 618, have been sold to Brouse, Mitchell & Co. of
Markdale, Ont.-Debentures Voted.-The election held Toronto. Maturity part yearly for 15 years.
Sept. 13(V.89, p. 618) resulted in favor of the proposition to
Windsor, Ont.-Debenture Election.-A proposition to
issue $7,000 water-works and $3,000 fire-hall 4% deben- issue $4,200 5-year bridge-construction debentures will be
tures. The vote was 72 "for" to 25 "against."
submitted to a vote of the people on Oct. 18.
Woodlawn School District No. 1987, Alberta.-Debenture
Montreal Catholic School District, Quebec.-Debenture
Offering.-Proposals will be received until Oct. 26 by Ulric Sale.-An issue of $800 53t% school-building and equipping
Lafontaine, Secretary-Treasurer, for $150,000 4% coupon debentures was disposed of last month to Nay & James of
Regina. Maturity part yearly for 10 years.
school-building debentures.
Yorkton, Sask.-Debenture Sale.-On Oct. 4 the three
Denomination $1.000. Date July 2 1909. Interest semi-annually in
Montreal. Maturity 40 years.
issues of 5% coupon debentures aggregating $70,000
Niagara Falls, Ont.-Debenture Sale.-C. H. Burgess & described in V. 89, p. 801, were awarded to Hanson Bros. of
Co. of Toronto have purchased the following 5% sewer Montreal at 100.51. The bids were as follows:
debentures: $5,094 due part yearly for 30 years and $1,332 Hanson Bros., Montreal_ _ _ _$70,357 C. H. Burgess & Co., Toronto$68,407
Bk. Brit. No. Amer., Yorkton 70,000 R. C. Mathews & Co., Tor_ __ 68,110
due part yearly for 10 years.
Hawkey, Somerville & Co.,
J. Addison Reid & Co..
North Toronto, Ont.-Debenture Sale.-The following
Regina
Indian Head
69,370
68,055
G. M. Annable & Co., Ltd.,
W.
A.
Mackenzie
&
Co.,
Tor.
69,270
been
purchased by Aemilius Jarvis &
4% debentures have
Moose Jaw
67,907
69,041
Nay & James, Regina
Co. of Toronto: $12,214 for sidewalks, due part-yearly for Wood. Gundy & Co.. Toronto 68.656 Brent. Noxon & Co., Toronto 67,829
1
INVESTMENTS.
ACCOUNTANTS.
MISCELLANEOUS.
P. J. GOODHART & CO.,
Bankers
NEW YORK
37 BROADWAY
Telephone 2240 Rector
3426 WHInut Ss.. i'inetnnati
T. W. STEPHENS & CO
Arthur Young & Co.
Bank and Trust Co. Stocks
Investment Bonds
MUNICIPAL AND RAILROAD
BONDS.
LIST ON APPLICATION
2 WALL STREET, NEW YORK,
SEASONGOOD & MAYER1
Certified Public Accountants
(I LLINO1s)
New York, 30 Pine Street
Mliwouliee 633 **ills Bide
Chicago, 1315 Monadnock Block
Kansas ulty. 1 100 Commerce Bldg.
Mercantile Library Building
CINCINNATI
Charles M. Smith & Co.
WE OWN AND OFFER
CORPORATION AND
MUNICIPAL BONDS
MUNICIPAL BONDS
Tax Exempt Anywhere In the United States
Write for Particulars
SUTHERLDT & CO.
FIRST NATIONAL BANK BPILDINO
CHICAGO
617 First Nat. Bank Bldg.CHI CAGO.ILL
111-ITABLUDI ED 1885
C. B. VAN
H. C. Speer 6c Sons Co.
AUCTIONEERS.
Regular Weekly Sales
Office, No. 55
WILLIAM STREET,
Corner vine .treet.
Bank and Trust Company Stocks
NEW YORK AND BROOKLYN
BOUGHT AND •;OLD
CLINTON CILBERT,
2 WALL ST.. NEW YORK.
JAMES PARK & CO.
INDUSTRIALS
CERTIFIED PUBLIC ACCOUNTANTS
New York,Chicago, Cincinnati and
London, England.
1850
1908
The United States Life
Insurance Co.
IN_THE CITY OP NEW YORK
Issues Guaranteed Contracts,
STOCKS and BONDS
EVERY WEDNESDAY,
(Pennsylvania.)
Land Title Building
P11 I LA DELPII IA.
My Investing Bldg., 165 Broadway
N W YOB o •
Union Rank Building
PITTSI1U mac
36 WALL STREET
First Nat. Bank Bldg., Chicago
CITY, COUNTY
AND SCHOOL
BONDS
Adrian H. Muller & Son,
NOSTRAND
LYBRAND,
ROSS BROS &
MONTOOM E RV
Certified Public Accountants
€13
JOHN P. MUNN, M.D., President
Finance Committee
JAMES R. PLUM
Leathet
CLARENCE H K ELSEY.Pres.Titie Gu. & Tr. Co.
WM. H. PORTER. Pres. Chemioa National Bank
Good men, whether experienced In life insurance
or not. may make direct centracrts with this Coro
pang, for a limited territory if desired, and secure
tor themselves, In addition to first year's commis
sion, a renewal interest insuring an income for the
future. Address the Company at Its Home OMNI
No 177 Broadway, New York Oily.
AUDITORS FOR
FINANCIAL INSTITUTIONS. INDUSTRIAL AND
MINING CO OPANIES
Investigations, Financial Stati merits,
Periodical Audits and Atmunting.
ALFRED ROSE & CO.,
CERTIFIED PUBLIC ACCOUNTANTS
56 Pine Street, - NEW YORK
Telephone 4201 John.
LOOMIS, CONANT& CO.
CERTIFIED PUBLIC ACCOUNTANTS
30 Broad Street, New York
TeL 495c Broad.
@FedFRASER