Full text of Commercial and Financial Chronicle : October 17, 1903, Vol. 77, No. 1999

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finainrial

ommfnria

r0ntrl?

INCLUDING
Bank and Quotation Section

and City Section (scmi- Annually)
Street Railway Section {^^''yvZT'^)
State

(Monthly)

Railway and Industrial Section (Quarterly)

bj- William B. Dana Compant, in the office of Librarian of ConfrresB, Washini^ton,
York, »8 secoud-clasa matter— William B. Dana Coupant, Publishers, 7rt}<j Pino St., N. T.

Entered nccordin? to Act of Cbnnress. In the year 1903.
weekly newspaper entercil at Post

A

VOL.

Office.

New

SATURDAY, OCTOBER

77.

17,

NO.

1903.
Week

—

^Ixe Chronicle.

Clearinos at

1903

of

C.

1999.

endtnri October 10

1902

PUBLISHED WEEKLY.

Terms

1).

inc. <n

1900.

1901.

Dec

»

Subscription— Payable in Advance
$10 00

For One Year
For Six Months
European Subscription (inoliuling postage)
European Subscription Six Mouths (inclutling postage)
Annual Subscription in London (inclurtincr postage)
Six Months Subscription in London (including postage)

6

00

13 00
7 50

£2
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Subscrijtticm includes following Sections

14s.
lis.

—

State and Citt (senii-annnally)
BANK AND QUOTATION (monthly)
RAILWAY AND Ixdl'strial (quarterly) Street Kailway (3 times yearly)
I

Boston
Providence
Hartford
,'.

New Haven-

—

Worcester
Si>rini!fleld

Portland
Fall River
Lowell
New Bedford

Holyoke

New England.

Total

126.677,531
5,914,100
2.507.710
1,781.503
1,427,823
1,707,040
1,611.666

147.186. 118
6.785. 200
2,725. 51

—13-9

118,5.56,153
6,151,5(K)

—11

144,300,856
6,956,700
3,014.519
1,620.612

—10-3

l,7-.i4.271

1,279,003
1.404,821
1,249,168
955,451

—128
-8-0

538,647
544,784
470.077

1,801, 358
1,769. 285
1,491,,91
1,493. 244
1,168,444
585,,5u7
548,,488
355,,842

144,156,937

165.910,921

185,012,103
20.888,200
15,424,001

163,756 148
20,339,550
15,497,649
9,135,393
7,143,230
5,840.309
4,372.050
2.970,230
3,112,61

-[-130

1,60.1,220

4-27-9

9fl7,05b

1,574,625
1,485,14»
954,569

-fl4-4
-I-7-9

-17-2
—8-0

1,4.S2,805

:163,562

336,672
644,612
310,089

163.151,893

134,675,902

152,782,929
17,262,050
13,685.951

13,3,584,022

13,71-2,326

7,875,:j44
6,72;i,414

6-20

-0
-f349
—13-1

843

;i,305,»i26

536,288

|

Terms ot Advertising— Per Incli
Transient matter per inch space (14 asrate lines)

Space

Chlcaeo
,$4

Two Months
(8 times)
Three Months (IS times)
Six Months
26 times)
Twelve Months (52 times)

22
29
50
87

20
00
00
00
00

Cincinnati

Cleveland
Detroit

10,748,79(5

Milwaukee

+2-0-5

-1-17
-4-12-2

Smith, 1 Drapers' Gardens, E. C, will take snbaeriptions and advertisements, and supply single copies of the paper at Is.

Grand Rapids
Dayton

8.015,935
6,506,05
4,578,300
3,249,341
2,715,605
2,051,531
1,962,200

Evansvllle

1,071,701

948,;«»6

each.

Akron

694,700

-I-13-0

620,000

-t-120

8^,187

62<J,587

763,280
721,338
580,293
556,207
417,123
450,174
443,467
341,414
332,218
292,392
197,197
162,000
105.214

594.839
555,324
58^,856
406,964
399,982
462,400
351,974

-I-32-5
-)-28-4

269,105,599

252,106,137

29,174,475
6,109,035
4.807,077
2,766,132
4,073,193
2.402.646
2,010,498
550.240
712,997
347,452

29,111,181
5,203,838
4.740,403
3,015,873
4,553,174
2,095,714
1,847,860
599.49
746,387
385,667

52,953,745
27,328,71
17,860.270
8.172.824
6.750,000
4,567,212
5,400.000
2.661,516
1,441,019
1.845,220
1,250,000

I

Po«

Peoria

Edwards &

\riIiL.IA.TI B.

Box

Office

DANA

I'Ine Street,
».5S.

COITIPANV, Pnbllsliers,

Corner

of

Columbus
Toledo

LONDON AGENTS:
Messrs.

ludianapulis

Springfield,

III

Youngstown

Pearl Street,

NEW VORK.

CLEARING HOUSE RETURNS.

Kalamazoo
Lexington
CantoD
Rockf ord
SpringUeld,

O

Bloomington
Quincy
Decatur

The following table, made up by telegraph, etc., indicates Mansfield
that the total bank clearings of aU the clearing houses of the Jacksonville
United States for the week ending to-day, Oct. 17, have Jackson
Ann Arbor
Total Mid. Western
been $2,013,3,52,433, against $1,978,097,538 last week and
12,605,191,599 the corresponding week last year.
San Francisco
Los Angeles
CleaTimg»—Rttums by Telegraph.
Week Ending Oct 17.

New

York.

Boston
Philadelphia.

Baltimore
Cbtcoeo
St. Louis
New Orleans

Seven
Other

cities, 5 days.
cities. 5 days

Total

all cities,

All cities. 1

Total

The

5 days

day

all cities

for week..

190a

P. Cent

1902.

Salt

Lake City

Portland

*1,494.505,421
118,519,936
104.974.432
19,900,498
142,243,172
44,005.499
11.008.139

-371

Spokiine

—2-9

Tacoma

11,381,307.748
304.926.273

$1,935,157,097
300.001.461

-28-6
+1-6

$1,680,234,021
326.018.402

$2,235,158,558
370.033,041

-24-6
-11-9

1939.065,734
115.019,609
88,822,615
21,868,128
157,585.738
46.818.706
12.627.218

*2,0] 2,252.423

$2,605,191,599

—15-4
+9-9
+10-8
+5-3
+14-7

—22-8

week covered by the above will be
given next Saturday. We cannot furnish them to-day, clearings being made up by the clearing houses at noon on Saturday, and hence in the above the last day of the week has to
full details for

Seattle

the

Helena
F'argo

Sioux Falls
Total Padfle

Kansas City
Minneapolis

Omaha
St.
St.

Paul

Joseph
Denver
Des Moines

Sioux City

Topeka
Davenport
Wichita
Colorado Springs

EYemont
Total other West'm
St.

Louis

cases estimated, as we go to press Friday night.
New Orleans
We present below our usual detailed figures for the previous Louisville
Houston
week, covering the returns for the period ending with Satur- Galveston
Richmond
day noon, Oct. 10, and the results for the corresponding Savannah
week in 1902, 1901 and 1900 are also given. Contrasted with Memphis
Atlanta
the week of 1902 the total for the whole country shows a loss Nashville
Norfolk
of 22-6 per cent. Outside of New York the increase over 1902 Fort Worth
Birmingham
is 0-9 per cent.
Knoxvllle

be in

all

Augusta
Week ending October

—

Clearings at

1903.

$

New York
Philadelphia..
Pittsburuh
.,

Baltimore

,

Buffalo

Washington.
Albany
Rochester

.

,

Clica.

Scnmton
Syracuse
Wilminnton...
Wilkes Ilarre..

Whee.ins
Bint'liamton

1902.

..

Greensburi?....

Chester
Erie
Franklin. Pa..
Total Middle

190L

Dec.

%
-»4-5

$
1,321.644.023
-10-9
95.323.914
—2-8
34,375,004

414,7^9 --111
374.557 --34-2
„
Not include d into
Not include a in to

1,309,268,02^ 1.904,913,403

Chattanooga

Inc. or

,115.735.448 1,702,293,275
101.721,065
114.139,457
39.413,387
40.5a3,144
24,242,656
22,9«3,777
-I-5-6
7,053,204
6,093.921 -I-15-8
4,466,046
3,483,773 -h28-2
3.638.417
4,351,913 -16 4
2.722.669
2.391.U4 - -13-K
2.473.473
2,117,004 . -16-8
1.826.471
1.156,497 - -57-9
1.255.826
-4-8
1,318,123
1.306.483
1,511,158 —13-6
1,266.352
611,584 -1-1070
769.264
--2-2
752.757
413,700
--1-7
406.700

460.909
502.59S
444,705
247,221

Little Rock.

Macon

10.

1^2,118,414

B.410,618
2.859.349
3 233.707
1,830,548
1,260,488
1.170,077
1.330,859
711,843
692.951
342.200

406,ol3
317,501

1900.

926.820,551
82.256,172
28.341,079
20,396,958
5,231,958
2,485,668
2,868,325
1,794,183

987.053
1,005 886
939.465

Guthrie
Total Southern
Total

all

Outside

New York.

358,400
396.819
297,180

Montreal
Toronto
Winnipeg
HalifaxV ancouver.

Hamilton
St. John
London
Victoria

l,074.-.il9,Btf(

+9-4

— 12-8

1,601,146

-r22-5

4-29 9

—0-4

4-36-

-H-3

—2'7

+26-0

258,ri03

-I-32-1

216,031
232,988
217,480
165,000
99,111

-f-53-7
-I-

25-5

-8
—10-5
4-14-6
4-8 8

.507,900
46-1,334

K84,445
402,918
537,634
20,5.615

323.760
336,308
222,745
245 000
50,000
134.102
130.000

225.457.368

19-2,779,719

23,704,789
3,254,311
4,410.934
4.015,806
3,357,115
1,448,858
1,338,879

23,158,280
2,546,864
3,213,803
2,283,581
2,877, 13«

588.-^84

-(-6'2

4-0-2
4-17-4
4-1-3

2,328.909
2,450.847
1,219,721
1,304,557
H 18,396

65,000
164,274
144,095
78,581

—9-2
—1-8
-fo-

3,167,167
2,7.59,750

1,28-^,116

1,205,919

—s•^
—4-6
—9-9

468,591
260.570

633,250
364,011
176.567

52,305,594

4-1-2

42,848,137

37,743,527

4-300

IS 534,221

-^5-0
4-9-2
4-3-6
4-4-8

16,345,0t)4

892.288
288,550
211,265

21,014,637
18,994,556
7,482.752
6,517.410
4,356,163
4,500 000
2,406,580
1,839 119
1,537,164
1,141,954
690,722
473,433
148.568

78,668,881

-21-6

6,844,408
5,503,200
5,054.328
4,873,160
1,698,039
1,581,548

-f20-0

1,205.5:3s

4-9-5

l.-2'22,572

4-29-3

-f42 4

491,935
900,383
196 099

18,294,494
13,539 092
7,647,920
5,353,481
4,027,954
4,489,606
1,451,192
1,523,537
971,345
1,168,530
408,480
811,132
112,200

71,103,058

4-10-6

64,550,195

59,858,853

46,216,08'

4-10-1

41,804,350

12,828,320
9,429,135
8,153 396
4,366,000
4,056.351

-1-17-1

11.49H,53:j

—0-8

8,412,402
7,419,332

37,568,700
14,068,941
7,737,360
7.723,116
4,390,000
3,451,762
7,025,613
4,373,358

4-200
-1-10-6

—39-1

50,800,098
15,016,364
9,351.805
9.000.000
5.758,000
4.408,836
6,265,622
4,716,792
3,577,553
2,624,140
1.968,154
1,944,539
1,199,568
1,121,602
1,985,878
1,001.476
1,154,000
715,300
405.000
829,541
l,35y,75«
801 115

Not include

123,944,348

110.472.098

4-9-1

1,978.097,538 2,556.817.291

-22-6

862.362,090

854.518.016

4-0-9

768,272,628

672,372,233

23,374 185
15,094 .482

27,120,839
19,278,264

-13-8
—21-7

5,047,'JOl
1,804,9.58

4-.8-5

20,450,105
9,965,581
3,213,476
1,665,847
2,a 15,420

15,003,740
10,995,223
3.072 497
1.453.299

4-10-4
4-31-9

4,79'<i.500

4-8
4-42-4
4-6-9
4-4 1)

4,399,6:il

4,411.573
3,439,828
3,043,536 4-284
1,708.399 4-15-2
1,704,789 4-14-1
1,152.088
-f4-l
837,941 4-33-9
2,289,303 —13-3
-8-5
1,094,893
970,000 4-19-0
586,545 4-21'9
4-0-5
402.835
381,458 fll7-5
Xot iucluat- d in to lal.
(i

in to

3,402.96^
4.995,560
3.620,107
3,121,850
1,534,321
1,465,191
1,498,006

2,»14,8(t4

890,460
841,000

1,462,624
1,519.769
1,465,278
923,000
635,659
2,283,749
669,428
1,061.000

475,951

400 883

361.924

^'6,033

99,S3l,k!54

99,915,086

951,360
731.602
2,035,772

tal.

-i,08S.916.65l 1.599.192.784

Canada—

Ottawa
Quebec

tal.
tal.

—31-3 1,494.027.804

Beaumont
Jacksonville
Charleston

6,956,412
4,221,211
3,338,000
3,165 886
2,364,783
1,300,186
1,297,693
782,709
573,400
533,79.
521,351
397,796
481,853
360,535
343,474
365,316
312,652
245,104

-)-ll-4

15.344,200
11,198,541

Total Canada

5,473,,618
1.897,.686
2.360,,969
2,086,,853
1,531,,031
1,356,,562
1,051, 43:i
9^9, 590

2,122,286
1,592.486
1,232.652
956.46K

4-5-J

4-11-2
-(-29-8

l,(i30,136

4-24-3
4-41-8

1.204.303
860,186
820,715
656,484

1.113,147

4-^,68Si,259

33,033,648

1,0.38.591

4-1-2

804.635
5^H.21S

4--23-0

069

55,750, ,47s

61 527,498

-9-4

.5.34.

908,829
802,672
634,239

4-1-1

THE CHRONICLE.

1192

that each party will be disposed to legislate solely so as

THE FINANCIAL SITUATION.
The

to

disordered situation at the Stock Eichange

becomes more of a riddle each sacceeding week.
Nothing in market yalnea remains of a threatening
character, and yet so far as that center for buying
and selling securities is concerned, the tendency of
opinion was never more pessimistic than during
almost the whole of the past week. This feature has
In itself, perhaps, little significance, for Wall Street
sentiment is always bordering on one or the other extreme the mass of operators being heedlessly long or
short of the market.
On this occasion, however, one
would suppose that after so enormous a liquidation
and declines in prices, selling short would look dangerous and ofCer no opportunity attractive enough to
nevertheless
encourage the venture.
It goes on
in new
often
In varying volume from week to week,
At the
fields, but always with complete abandon.
same time the current whisparings, as heretofore, are
making havoc with the reputations and financial
standing of the more cansplcuons among banking
Beoently the selections for the
firms and individuals.
purpose have passed from residents of New York to
those of other cities, while the Standard Oil coterie
get the credit of being the center of the sailing, with

—

^j

the reported purpose of securing control of
dustrial interests of the country.

all

[Vol. LKxviL

make

a kind of record that in

its

opinion will attract

which generally means will serve as a bid for influence with the more ignorant classes socialistic
and labor agitators for among them the largest number of floaters is to be found. We do not concur in
that view. The swing of the pendulum at present is
away from political affiliation with those classes. Busivoters;

—

—

ness circles will control in next year's election.

Moreover, the Administration has]with it a majority
Houses of Congress, and has been making its
record during past years. We have seen no evidence

of both

that

it

desires to

change that record.

It

is,

therefore,

reasonable to conclude that the party in power will seek

minimize this year's legislation, undertaking simply such projects as may appear absolutely needful to
smooth, so far as possible, the current of business
affairs.
Those in opposition will be the only ones interested in keeping industrial movements demoralized,
and they have no power to effect legislation. The
plan of the dominant party and the common-sense
view is probably indicated by the remarks of Senator
Allison of Iowa this week about currency reform.
This has been a subject widely discussed. A large
number of excellent people have been very urgent in proposing radical changes in our bank-note
the in- devices, desiring to have them made at once. We
to

should be greatly pleased to favor this proposal if we
Bear in mind that this is descriptive of Wall Street thought that course feasible at this time. But it has
affairs at a time when crops of grain have matured seemed to us that public opinion was not quite ripe
nearly as large as we ever raise, and a cotton crop Is for radical action yet; besides^ the present and
Busibeing picked likely in any event to turn out more prospective conditions favor postponement.
known, Is already disturbed,
bales than the last crop, the entire surpluses of cotton ness,
as
is
well
and grain being in demand by Europe at paying prices. and the current session of Congress, the shorts

Bear in mind also that our railroads are so full of
business that there is a lack of cars to move the offered freight and the promise at the moment is, larger
earnings and profits for the roads than were shown
even in 1902-03. Nor la this all that can be said oi
the favorable conditions. General trade has begun to
expand again. The pessimism of Wall Street had tended in some slight measure to reduce buying to a mere
hand-to-mouth character; but there are good signs
now of an improving consumption of manufactures and
buying at first hands is getting to be freer; even the
Iron and steel markets in the North, under the infiaence of the lessened production, smaller Imports and
increased consumption, are becoming less sloppy,
more steady, and a trifle more active. Altogether the
conditions for a material inflow of prosperity from productive sources is so manifest it would seem well nigh
impossible for even Wall Street to keep back the rising
tide.

Much

importance

is

ascribed by

some

to the meet-

ing of Congress, khortly to occur, as one among
future uccertaintias sure to materially disturb our
markets. This fear is chiefly encouraged by recalling
past experiences, the idea being not uncommon that
Congressional legislation
iety in

business circles.

is

quite sure to arouse
It

anxshould be remembered,

however, that the past cannot in this respect correctly
guide the judgaaent. Since the country has been
relieved from the silver agitation such an anticipation,
in the nature of the case, has very much less of a basis
to build upon. Still, a circumstance urged as making
the event more than ordinarily disturbing is that the

coming session precedes next

year's Presidential elec-

tion; consequently the supposition of a good

many is

another Presidential election; that
fact many believe, with the currency changes radical, as when made they ought to be, would while in
the experimental stage have a tendency unfavorable
This state of opinion,
to business development.
whether correct or not, would serve to increase the
industrial uncertainties instead of diminishing them.
proclaim,

faces

probably the view held by Senator Allison and
the party he represents. He says if the Senate has its
way there will be no radical legislation affecting the
currency at the coming session no step taken toward

That

is

—

making the currency correspond

to

the varying re-

quirements of legitimate business; but that the laws
will be altered so far only as to prevent the accumulation of Government revenue in the Sab-Treasury

and

to repeal or

amend

the statute requiring Customs

revenue to be turned into the Treasury. The reforms
the Senator mentions are the most pressing;^others,
he thinks, can aud will be postponed.

In connection with the foregoing we may as well
add that it is not nearly so clear a proposition, as the
bear operators oa Wall Street profeds to believe,
that bnsinees affairs next year are to be greatly depressed because a Presidential election is a coincident
This result is obviously less likely to occur
event.
than (?ould have been the case had not the thorough
liquidation that nas been so long and is now in
progress taken place. No one we think will dispute
that assertion. We have not claimed that the recovery
to a normal status is to be in active operation during
that year, but we say it is more likely to be, because
of the liquidating movement which our industries
Liquidation is not
have already passed through.
a permanent possibility.

Bscovery

is

the natural

I

Oct.

THE CHRONICLE.

17. 1903. J

procueBB and teodency after the luflatloa has been re-

moved.
Beaideg

that,

other

are

agencies

of

as

we have noted above,
most

oar

favorab'e

to

prominent

the

return

of

there

restorative

business

health and vigor, which have} jast begun to work and
With such Burroundlngs, it would
inflaence affairs.

be against reason to anticipate a continuance of the
present retrograde movemert and extreme discredit

J

193

seen from the foregoing that the aggregate of these five crops the present season is 3,907
million bushels, as against 4,350 million bushels ia
It will be

1903, when practically all our harvasts were of
extraordinary dimensions, and with but 3,157 million
bushels in 1901, the season when harvests were excep
tlonally deficient everywhere.

It compares also wi;h
the total in 1900, and 3,618
million, the total in 1899, which were both years of
good average yields.

3,519 million bushels,

during the Presidential contest. Of course, It is
always possible that some disturbing factor not
The annual report of the Wisconsin Central Railway
yet developed may Intrude Itself and bring in a new
order of events. Bat while that is conceivable, it is Company issued the present week shows that the company had a good year in the twelve months covered by
not probable.
the report.
The road is not to be classed with the
All through the summer, when there was the pos- larger systems of the day, as the length of line operBut It is
sibility of damage to the growing crops, the agricul- ated by it is not quite a thousand miles.
country,
and its
tural situation received a great deal of attention, and located in a good section of the
least,
earnings,
the
last
few
years
at
have
been
every little adverse development was heralded as a very
unfortunate feature bearing on the future. It is steadily rising. It may be a surprise to hear that in
henoe singular, now the crops have reached their 1902-03 this little road earned over a million dollars
maturity, and particularly the corn crop, without any more than three years before, in 1899-1900, and one
serious Injury from frost, that the monthly report and a third million dollars more than two years before,
In other words In 1899 1900 the gross
of the Agricultural Bureau, issued last
Satur- in 1900-01.
day, furnishing definite proof of the satisfactory was $6,637,416, in 1900-01 it was only $5,324,274,
outcome of the harvest, should have excited al- while for 1902 03 the total is $6,661,862. Net earnmost no comment. Yet the fact that the corn crop ings have also considerably increased, the amount for
against
being
as
$2,158,$2,445,869
is to be of large magnitude is a circumstance of no 1902-03
096
1901-02
1900-01.
and
for
for
$1,867,811
small importance, not alone to the farming community, but to business Interests all over the country.
Some damage to corn occurred during September from frost, but it covered only comparatively
limited areas, as pointed out by us at the time.
Taking the month as a whole, the Agricultural
Bureau U actually able to report an improvement in
condition, the average October 1 being stated 80*8, as
against 80*1 on September 1.
The average stands
higher, too, than on October 1 last year, when the
figure waa 79 "6.
The acreage under corn, however, is less than that of last season.
Allowing
for this, the Department's average of condition
points to a crop of 2,300 million bushels, which
least 300 million bushels better than any
1« at
one dared to hope for until within
a
short
time ago. The production of course is not as large
as the phenomenal yield of last season, when the crop
was estimated at 2,523 million bushels, but it is with
that exception one of the very largest crops on record.

The Department has

furnished figures of the

also

yield per acre in the case of wheat

and

oats.

ing to these figures the wheat crop will
close to the
total
of last year,
thus

As
the

a

result

company

is

the

of

able

to

indicated,
Improvement
show a surplus above all

charges in the sum of $724,074 for the late year, as
against only $480,104 in 1901- 02 and $246,117 in
1300-01.
Practically the whole of this surplus has

been appropriated for improvements, new equipment
and slaking funds, the direct appropriation for improvements being $424,638, and the appropriation for
new equipment $138,458. The gain in Income, it is
proper to say, has been established in face of declining rates, the company having realized in 1902 03 an
average of only 6 82 mills per ton per mile, as against
709 mills in 1901-02, 7-42 mills in 190001 and 7*31

being

mills in 1899-1900.

Efficiency in operations

steadily Increased,

the train-load in the' late year

is

having been 303 tons, as against 286 tons the previous
year, 260 tons in 1900- 01 and 258 tons in 1899-1900.

Tae Gulf & Ship

Island Rdlroad

Company

is

a

small independent railroad property In Mississippi,

Accord- with its Southern terminus at Gulfport on Mississippi
Sound, Gulf of Mexico, a point which the company
come
very

is developing and raising to a position of Increasing
importance.
As one illustration it may be noted that
expectations in that regard. The oats crop will probably be some 200 million bushels less than in 1902, fifty six veasels loaded from Gulfport in the twelve
but will nevertheless be o! good proportions, the loss months ending Jane 30 1903, of which twenty were
from Ja^t year following from the fact that the oats steamships, as against only twenty-one vessels
orop then, like the corn crop, was of exceptional mag loading in the twelve months preceding, of which
nltude.
We furnish the following comparison of the none were steamships. On the same basis of mileearncorn, the wheat, the oats, the barley and the rye crops age (251 miles) as in the preceding year, gross
and
ings
to
$1,705,047
were
increased from $1,374,684
for the last five years.
The interest
net income from $434,170 to $629,148.
CROPS OP WHEAT, COHN, OATS, BABLBT AND BTK.
charge amounted to only $195,430, leaving a balance
Total
1033.
1902.
*1901.
1900.
1899.
Two dividends
of $433,718 available for dividends.
PrDductUm.
Bushels,
Bushelt.
of 1 per cent each, calling together for $100,000, ware
Bxtshels.
B^^shels.
Bushels

meeting

j

Corn

...

Wheat.
Oats....
Barley...

Bre
Total.
•

Revised

8,800.000,000 2,623.648,812I1,622,619,S&1 2,105.102,5ie 2,078,143,933
668,028.010 670,068,008' 748,460,218 582.229,505
647,303,846
787,889,000 987,842.7 12
736.808,724
809,123,989
796,177,713
181,789.000
1H4.954,028| 109,932.924
68,925,833
73.331,563
89,373,C00
S3,e80,5K2
89,344 830
23,995,927
23.961,7*1
1

8,907,779,000 4.353,1=8.64713,157,066,587 3,519.87»,770 8,518,9e8.7W6
flinires; orijrinal figures

mnch

lower.

paid, leaving a surplus of $333,718.

Taking the fall amount of funded debt outstanding
June 30 1903 ($4,629,877), the annual call for interest
is $231,494, as against the $629,148 net income already
referred to.
Gross earcings for the twelve months

THE CHRONICLE^

1194

[Vol. lxxvii.

were 16,793 per mile of road operated^ and net earn- at 2 per cent, with the majority at 2 per cent. Oa
per
mile.
The annual interest Thursday loans were at 2^ per cent and at If per
ings
t2,492
charge per mile of road on the funded debt amounts cent, with the bulk of the business at 2 per cent.
The surplus of 1333,718 remain- Oq Friday transactions were at 2^ per cent and at 1|
to only $922.
ing after the payment of dividends was all applied per cent, with the majority at 2 per cent. Though
the time loan market ia easy, rates are only fractioneither to increase reserve funds or used for construe
tlon not provided for by the company's 16,000,000 ally lower than they were last week, lenders not being

The report contains interesting details
showing the way Golfport is being developed, and
also regarding the new iudastries that are springing
up all along the Hoe of the road. It Is a noteworthy
bond

issue.

inclined to
for sixty

make

concessions.

There

Is

no demand

make
the new

day money, borrowers preferring to

contracta which will carry

them over

into

on the best Stock Exfact that freight-train earnings per freight train mile change collateral is nominally 4^@4| per cent. Quotarun in 1902 reached the high figure of 13 91, this tions on good mixed Stock Exchange collateral offered
by substantial borrowers are 6 per cent for from three
comparing with $3 13 the previous year.
to six months, i^hlle the rate
for loans on an
There was no change in official rates of discount by assortment embracing 30 per cent of industrials it
any of the European banks this week. Unofficial or 5^@6 per cent for these parioda. Not much bustopen market rates were, however, firmer compared nesa ia reported, borrowers being generally well
with thoee of last week, at London and at Berlin. aupplied. Very few purchases of commercial paper
The security markets at the British capital are being made by local institutions and buying by
and at Continental centres were unsettled and weak interior banks is not important. Though time money
on Mondiiy, Infiuenced by disquieting reports from Is easier, there is as yet no change in rates for paper
the Far Eas causing apprehensions of a collision be- and these remain at 6 per cent for sixty to ninety day
tween Russia and Jipan. Consols fell In London to endorsed bills receivable, 6(^6^ for prime and 6^(^7
83 1-16, the new Japanese 5 per cents declined 3^ per per cent for good four to six months single names. A
Ras- quotation of
cent and the Japanese 4 per cents 1^ per cejt.
6| per cent for the first-named class of
year; the rate for thia period

,

slan

securities were, however, not

affected.

On

the

paper was reported during the week but this is
claimed to be Incorrect. Some very choice Eastern
was no confirmation of the rumor that the Japanese mill paper, bearing the endorsements of the officers
had occnpied Masampho, Gorea, and the excitement of the mill and of the commission-house handling the
on the European markets subsided. The operations product of the manufactory, has been placed at> 6| per
incident to the London semi- monthly settlement, cent, but thia ia not unuaual, for thia claaa of paper is
however, kept discount rates firm.
almost always in demand; moreover it is customarily
One feature of the statement of the New York As- drawn to run for much longer periods than ordinary
sociated Banks last week was the failure of the endorsed notes.

following

day the reports were

leas

alarming, there

prora by $2,637,600. That Is to
say, the sum of the net gain of $2,739,800 cash and of
the $198,400 increase in loans called for a gain of
$2,938,200 in deposits, whereas the increase in this
item was only $400,700. The difference corresponded
yery closely with the amount ($2,600,000) which was
figures reported to

required to bring up the combined capital of the

Bank

Commerce afcer the merger with the Western
States
to $26,National Bank of
the United
000,000, which merger became effective on MonAssocl
The required reserve of the
day.

of

England minimum rate of discount
remains unchanged at 4 per cent. The cable reports
discounts of sixty to ninety day bank bills in London
3i@3| per cent. The open market rate at Paris is
2| per cent and at Berlin and Frankfort.it is 3|
According to our special cable from Lonper cent.
don, the Bank of England lost £740,376 bullion during the week and held £32,369,818 at the close of the
week. Oar correspondent further advises ua that the
iosa waa due to importa of £284,000, of which £260,000 bought In the open market and £34,000 from

The Bank

of

Banks was Increased $100,176 through the
augmented deposits, and deducting this sum from South Africa, to exporta

ated

which £660,the net gain in cash, as above, left $2,639,626 as the 000 to Egypt, £90,000 to South Africa and £40,000 to
increase In surplus reserve^ which now ia $16,677,126. otber countriea, and to shipments ol £ii^,QOO neiio
Computed upon the basis of deposits less those of the interior of Great Britain.
The foreign exchange market has been generally
$36,869,300 public funds, the surplus la $26,794,460.
The back statement of this week will cover the trans- firm this week, influenced by an entire absence either
fer hence to New Orleans, through the Sab Treasury, of ficaace bills or of those drawn in anticipation of
of $760,C00 and the transfer hither from San Frau- covering with cotton later In the aeason, and the
cIbco, through this office, of $144,000, besides the market hsa also been sffacted by a good demand to
other Interior movements. The redemptions of 6 per remit for maturing loans, which inquiry bai absorbed
cent bonds have thus far amounted to $7,947,460 and all offerings. Commercial drafts have been in light
the applications for the exchange of refundable bonds supply with scarcely any spot bills against grain and
Canadian bankers say that
very few against cotton.
for the 2 per cent consols have been $6,322,800.
the commercial exchange resulting from the export
Money on call representing baokeri' balaaces has of grain through Montreal Is bought partly by Chibeen easy this week^ loaning on the Stock Eicbaags cago and other Western banks, and also by those
by these itstitntions
at 2^ per cent and at 1^ per cent, and averaging In the Dominion, and it ia
about 2 per cent. Banks and trust companies have forwarded for acceptance and collection and the reof £780,000, of

sight
loaned at 2 per cent as the minimum. On Monda; sulting credlta are drawn against with
and on Tuesday loats were at 2^ per cent and at 2 drafts, which are generally sold here, this being the
per cent, with the bulk of the business at 2i per cent. broadest market; this will partly account for the
Oa Wednesday transactions ware at 2i per cent and scarcity at thia centre of commercial bills against

I

Oct.

17, 1903.

THE CHRONICLE.

J

One feature of the maiket thla week
was a good demand for cable transfers incident to the
Loudon semi-monthly settlement. Francs were In
request after the middle of the week for arbitration
grata exports.

fall in exchange at
marks
were active and
Paris on London, and sight

operations in COD sequence of the

1570,716 43 for do
Gold received at the Custom House

The Aaeay

Btrong.

meetlc bullion.

patd

Office

With the Sub-Treasury operations the

short sold 5 points higher, at 4

8665^4

8675; cables

result

is

as

follows.
Week ending October

16, 1903.

Out of

.V«e

Bank$.

Bank

Banks Interior movement, as above

|«,36\000
2&,'< 00,000

86.901,000
23.400,000

$89,617,000

189.301,000

Total guld anJ IcKal tenders

RUSSIA

Ohan^

Into

Hank*.

Sub-TraiiAnrY ODeratloua

during the week, $61,462.

Nominal quotations for sterling exchange are 4 83
for sixty-day and 4 86i@4 87 for sight. On Saturday of
last wetk some business was done in long sterling at
an advance in actual rates, compared with those on
the previous day, of 10 points, to 4 8260@4 8260, and

1195

in

Uoldingi.

Loss. 11,684,000
Gain. 1,800,000
(iuln.

200,000

AND JAPAN.

There was a rather violent collapae in prices on the
foreijc:n markets last Monday, ostensibly caused by the
imminence of hostilities between Japan and Russia.
Public and private securities were alike deranged.
British consols declined ^ point, French rentes f.
New Japanese 5 per cents fell 3^ per cent, and the 4

On Monday per cents 1^ per cant. Eaglish railway shares lost
unchanged at 4 8615^4 8626.
half a point, or thereabouts, and South African gold
morning lorg fell 30 points, to 4 8a3C@4 8235,
mine shares declined more rapidly than at any time
short 26 points, to 4 864C@4 8560, and cables 16
this season.
points, to 4 86@4 8610; there was a recovery, howThe story, published in certain Continental newspaOn Tuesday the tone
ever, by the close of the day.
pers, was to the effect that Japan had given Its ultiwas firm at an advance of 6 points for long and short,
matum to Raseia, requiring that power to withdraw
to 4 8226@4 8240 for the former and to 4 8645^4 8566
from Manchuria, according to its promise, during the
a Wednesfor the latter; cables were unchanged..
present week.
This report was accompanied by de
day long sold 10 points higher, at 4 8226^4 8260,
tailed statements as to the preparations of Japan for
•hort rose 5 points, to 4 8660(^4 8560, and cables 6
The market was firm and offensive operations and of Rassla for resistance.
points, to 4 8606^4 8616.
The statement was explicit enough to seem really
It so contlnted on the following day, when long adwere

vanced 16 points, to 4 8240^4 8250, short 6 points, to
4 8665^4 8666, and cables 6 points, to 4 8610®
•4 8620.
The tone was steady on Friday.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
WML.
Oct. 9.

MOR..

Tubs..

Wbd..

TWUU..

TBI,.

Oct. 12.

Oct. 13.

Oct. 14.

Oct, 18.

Oct. 16.

plausible.

however, undoubtedly a canard.
The
charge has since been made that the publication of
the
rumors was a deliberate Stock Eichange
maroeavre, and the accusation is not at all improbable.
The flDanolal situation, quite aside ;rom the
It

was,

question of war on the Corean coast, was somewhat

Two weeks

what was described as
forced liquidation on the London Stock Exchange
83
83
S8
83
83
Btflng,
60 days 483
e6«
86«
MacouftCo.. 1 Sight. 4 86H
86H
86K
had left a feeling of extreme uncertainty as to what
83
83
88
60 dan 4t:8
88
83
»nk BrlUik
4 8««
8e«
S6«
8e«
Ro. Amenoft.. (Sight
86M
would happen when the next day's fortnightly settle88
83
Sank of
60 da7i 4 63
83
88
83
Montrtftl
(Sight.. 4(6^
B6H
f6«
86H
96H
86X
ment of accounts began in Capel Court. The New
OuukAiao Bank I60da7i 4ES
es
88
88
83
88
of Oommaroe. (Sight
4 £6^
86^
[(04
E6K
BOH
York position showed some signs of renewal of the
HaldelbMk, lok- 60 days 4&3
83
88
83
83
83
•Ikalmar A Co. (Bight.. 4e6>4
86«
8e«
£6>a
86)4
strain, and this had its reflex Inflaence on Europe.
60 dan 483
83
88
83
88
83
LMard rr«rM (Sight..
4 8«)<
een
86«
E6H
86X
£6H
The least that can be said is that the opportunity was
If arokanU' Bk.
60 dan 483
83
83
83
83
88
of CaoAdA
(Sight.. 4 86«
sen
67
87
87
87
inviting for a "bear canard'' which should provoke
The market closed at 4 8240^4 8260 for long, fresh liquidation from the apprehensive. la this re4 8656(^4 8665 for short and 4 8610(^4 8620 for cables. gard the situation was not wholly unlike that which
Commercial on banks 4 8220(^4 8230 and documents existed in the American markets one or two days
for payment 4 81|@4 82^.
Ootton for payment 4 81f later, when popular misgivings were made use of by
^4 8H, cotton for acceptance 4 8220(^4 8230 and grain such speculators for the spreading of similarly baseless stories regarding certain[Pittsburgh corporations.
lor payment 4 82f @4 82^.
Unfounded as they may have been, we thick the
The following table indicates the amount of bullion Rnsso Japanese ''war rumors" deserving
of some
in the principal European banks.
notice, becanae beneath the
the speculative
dan 483
4e6«
) Sight.

Biowa Broa

88

&8

(60

8e«

em

83

88

83

86^

8««

86M

threatening.

of

(

5

5

(

(

.

5

smoke

October 15, 1908.

Bank

of

ngland

Stiver.

S

£

33,330,918

rnutoa

a«rmanr

Oold.

lotal

QoU.
a,

%

39,869,81)^

34,119,036

84.ll9.03fi

lotaX.

Silver.

»7 ,379,161 44,326,133 141,706,2S< 101,865,761 44.S88,788
81,491,000 11.064.000 48,5;6,0(K' 31.780,000 11.766.000
81,623,000 8,074,000 89,697,000 71,505.000 6.778,000
45,803,000; 12,314,000 58,147.000 45,569,000 12,229,000
14,624,000 19,643,000 34.267,000 14,286,000 19.860,0001
19,982,000 8,886,200 22,817,20Ci 16,080,000 2,052,800
4,02e,90o| 6,819,800 10,846,'! 00
4.690,030 6,426,800
8,010,0001 1,506,000
4,615,000
8,142,6^7 1.671,833

...

Bnaila

ABa.-Hang'7
8*«ln
Italy

j

Netherlands

.

NatBelg-m

wk

146,104,488
48,5;-5.000

78,883,000
67.78S,000

33,646,000
18.182,800
11,116,600

i

4.714.000

105861133 438,92'J,00< 323,037,462 101401471 427.438,923
330,688,414 10E49110e5 436,079,828 823.8 6,7lb I0i59?669 42'.416,318
8fl9

1

The
to

following gives the week's movement of money
interior by the New York banks.

and from the

Wt4>t ending October 16, 1908.

<;«rr«a07

«old_.

which may develop later into a genuine iniluenoe on
the sltnation. This possibility is more directly a
concern to ns^ because the later and more official
rumors of the week intimated that Japan, though
irritated at

Russia's

tacit

disregard of

its

explicit

pledges, was inclined to take the ground that, since
the pledge was given to the United States, it was our

j

ToUthU week 1330,268
Tot, prey,

of

inventions there were some real and interesting facts

October 16, 1S02.

...

Total gold and legal tenden.

Beteivtdbv

ShipveA bv

13.643,000

•4.S10.000

8S4.000

1,C91,000

14.867,000

5,801.000

X r. Banla. Cf.Y.Banii*

Net Interior
Movement.
Logg. 11,267,000
267.000
Lobs,
Loss.

1,534,000

duty to see that it was carried out.
What were those pledges ? How have they been fulfilled, and how does their performance or non- performance affect the position of Japan ? The story is
somewhat curious. When the various other Powers
evacuated China, Bussia subscribed to an agreement
whereby she was to haie her forces withdrawn from
the Manchurian frontier by April 1903. This promise was not kept; bat for the reason, Russian dlplo-

THE CHRONICLE.

1196

[Vol. lxxvil

mats alleged, that the troops vtere ueedtd lor int War, la which upwards of a billion dollars was wasted
maintenauce of order. Obviously, such needs might on a contest not really looked on as formidable at the
be Interpreted differently by different diplomatists, start, will not be forgotten in many a year by other
and gave no satisfactory basis for negotiation. Nor States.
did any sign appear that Kussia was hastening the
THB WABASH RAILROAD REPORT.
day for her departure. First, ii leaked out that a
secret treaty, partly superseding Rnsaia's agreement
The Wabash Railroad Company will no doubt reap
with
State
with the Powers, had been negotiated by that
important benefits from the comprehensive plans now
China. To the grant of peculiar privileges contained being carried out by the Grould people for reaching
in this agreement Secretary Hay protested vigor- the Atlantic seaboard.
The needed links and extenonsly, and insisted on the surrender of the Southern sions, as is known, are to be provided through indeManchuria port of Niu-Ohwang, which Russia had pendent properties, such as the Wheeling & Lake
To this demand Russia, in form, Brie, the West Virginia Central & Pittsburgh, Westalready occupied.
gave way, leaving on record the personal assurance of ern Maryland, etc. Wnen built, the various new
her Ambassador to Mr. Hay that she " still main- lines will furnish considerable additional traffic to
tains her firm determination to restore it (Manchuria) the Wabash.
All this, however, relates to the future.
condi
the
as
soon
troopa
as
to Ohiia and recall her
What attracts attention now is the way traffic and
tions of evacuation shall have been agreed upon and
earnings of the system are being steadily developed
the necessary steps taken to prevent a fresh outbreak
of troubles in the neighboring territory."
It is now five months since Russia formally aband
oned Nlu-Ohang, yet her troops still occupy Man-

from year to year, even without any aid from the
direction indicated.
The system is advantageously
located, as we have many times pointed out in these

and the minor European Skates are negligible. There
is left the possibility that last Monday's rumor will
come true, and Japan issue an ultimatum singlehanded, backed by a movement of its fleet and

columns, being situated in the heart of the country,
and connecting many important traffic centres, like
Chicago, Omaha, Kansas City, St. Louis, Detroit,
Toledo, Buffalo, etc.
A little table is given in the report the present time
showing in a graphic way the extent of the growth
which has taken place. It indicates the increase in
the freight traffic from year to year, the increase in
the passenger traffic, and also the gain in gross earnings.
We have added a fourth column so as to reveal
The improvelikewise the changes in net earnings.
ment in this last case has been comparatively limited,
but in that fact we have one of the most important
By
features in the company's history of recent years.
that we mean that as revenues have expanded the
management has taken advantage of the fact to raise
the physical standard and condition of the property,
with the view on the one hand to enable it to compete
on equal terms with rival systems, and on the other
hand with the idea of bringing the property to a
physical plane where traffic oonld be moved with

troops.

steadily increasing

This seems to us improbable, because Japan understands very well the position of other States, and is
besides not over well provided with the sinews of
war. A country of varied manufactures may conduct
a war, in an emergency, by suspending specie payments and emitting into forced circulation paper
But paper money will not circulate
bills of credit.
abroad, and Japan has no manufactories of war material.
To buy them elsewhere it would have to borrow, and there has rarely been a more unfavorable
hour for such a purpose. The need would have to be
supplied from the United States, if anywhere; yet at
the moment neither our investors nor our manufacturers are in a position to take foreign bonds in re
turn for such exported capital. Two years ago the
situation would have been very different.
If, on the other hand, Japan by any chance should
find itself able to assume the aggressive effectively,
RuBBia would apparently be at a still greater disadRussia, like Japan, would have to buy
vantage.
abroad; but more than this, it would be confronted by

referred to

In

Tear ended

Tons Moved

churia, and she shows not the slightest sign of sum-

On

the contrary, the meagre
information which arrives regarding the maroeavres
of her troops indicates that a still larger force is being

moning them home.

massed on the Manchurian

frontier.

There

is

at least

It may be, that Russia
she
is, take her stand on
means quietly to stay where
technicalities, and ask other nations what they are

a suggestion, unpleasant as

going to do about It.
We doubt if they will do anything. England Is formally Japan's ally, but England is clearly not in a
position either to participate in or to encourage au

open breach.

Germany has made no

sign,

and

is

hardly likely to assume the aggressive with Russia's
ally, France, on her west frontier. The^Unlted States
obviously cannot exert more than moral influenoe,

June
1897
1898
1899
1900
1901
1902
1903

I,365,ti93,174

1,666,830,054
1,902,881,278
1,978,952,453
1,947,404,142
2,198,073,383

91-1

The period

Passengers

One

Mile.

1,149,989,024

Increase 1903
over 1897

efficiency.

The

table

as follows.

One

30.

economy and
Mile.

135,963,860
180,359,167
210,592,939
233,848,065
264,268,214
322,708,490
330,111,942
142-8 p.

p. c.

o.

Qross

Earnings.
$11,526,787
13,207,862
14,393,974
16,440,990
17,554,465
19,053,493
21,140,829
83-4 p.

Ket
Earninps.
$3,547,628
3,903,083
3,982,500
4,493,573
4,802,420
5,206,057
5,325,167

o.

£01

p. o.

be seen, is only six years,
and yet in these six years gross earnings pave risen
from 111,626,787 to $31,140,839. Moreover, for the
three months since the close of tne fiscal year, that is,
from July 1 to September 30 1903, there has been a
covered,

it

will

further gain in gross of $895,133 (over the corresponding four months of 1902), and hence President Ramsey
is

led to say that the total of the gross for the

current

fiscal

The number

new

or

year will be at least 23 million dollars.
of tons of freight moved one mile in the

period of six years given increased from 1,149 millions
to 3,198 millions (an addition for the six years of over
1,000 million tons one mile), and the passenger traffic

an enemy close to a base of supplies, while the Rus
sian forces would be separated from their own by the increased in a still larger ratio, probably because of
whole breadth of Asia. We suspect, however, that the opening of the Buffalo line over the Grand Trunk
the money question will settle the mind of each possi
of Canada, rising from 135 million to 330 million.
ble belligerent.
The great object lesson of the Boer Stated in brief, passenger traffic in the six years has
)

Oct.

THE CHROXIOLE.

17. 1903.1

1197

gained 142 per cent, freight traflBc 91 per cent and
gross earnings 83 per cent.
When we come to the net earnings we find much

aud over-time '' have materially increased the coat of
train and switching service. Altogether the advances
In wages and changes in rules have added fully
the aggre- $560,000 a year to the expense account.

the amallest ratio of Improvement of all,
gate of the net having moved u;^ only from $3,647,628
In other words, while gross earnings
to 16,326,167.

have been added to in amount of
$9,614,042, expenses have consumed $7,836,503 of
et.
Of
this sum, leaving only $1,777,639 gain in
two
years
the
same
last
factors
course during the
have operated 'o swdl the expense accounts of the
Wabash as have proved so potent in the case of other
roads, that is higher wages and increased cost of
But while this has
fuel, materials, supplies, etc.
been no unimportant feature, yet In the main the
steady augmentation of expenses year by year is to be
ascribed to the cause already mentioned, namely the
poMcy of the management in making extensive improvements, additions and betterments, thereby raising the physical standard of the property to a posiin the six years

tion never previously attained in its history.

President Ramsey in his opening remarks speaks of
the continuous growth in the earnings of the system

and the great improvement

In

the condition of the

property and in its equipment aud facilities for handThe two
ling Its traflBc economically and promptly.

matters have really gone band in haad and one has
In fact, except for
been as important as the other.
the enlarged and improved facilities for handling
traffic,

the growth in tonnage could never have taken

The

report furnishes fall Hetalla of the work done
in building up the property and improving the condition of tracks, roadway, stations, buildings and facilities, and in reducing grades, eliminating curves and

stock and motive power,

Increasing rolling

all

of

was continued with vigor
We can give only one or two indications showing how the expense accounts were added
Daring the year all the old bridges on
to in this way.
the Buffalo Division were replaced with modern steel
bridges at a total cost of over $500,000, of which the
which work. It
during the year.

is

stated,

Wabash paid over

This division. It is
$300,000.
practically
rebuilt
been
since the Wabash
noted, has
commenced running over it— heavy bridges, rail, ballast and longer passing tracks having been provided.
The completion of the bridges will now permit of the
use of the company's heavier engines, allowing a more
economical operation *n train service, and as a consequence an Increase in the net earnings of this division
As a further IndiIs confidently looked forward to.
cation of the extent to which expenses have been increased by extraordinary outlays, it may be observed
that expenditures for maintenance of way and structures averaged the high figure of $1,490 per mile of
Furthermore, in the case of the eqalpment the
road.
amount expended for repairs of engines WiS $1,336,733, equal to $2,739 per engine for 488 engines, the
average number on hand during the year.
These heavy outlays have already proved very profitable, and they are likely to prove still mofe profitable

Doubtless the temptation to make a captirat'
ing income showing to the extent at least of indl
eating that dividends had been earned on the class B.
bonds must have been great, but the management
It is becoming a commonplace of railfirmly resisted any Inclination that may have existed in the future.
Recognizing that Income employed in road comment to refer to the increases in train-load
of that kind.
bettering the property would In the end make the best which nearly every railroad in the country has been
place.

—

—

kind of return for the debenture holders (especially reporting the last two or three years. We cannot,
as the company had no means of raising the needed however, omit allusion to this fact in the case of the
money by new capital additions), the property has been Wabash, for the Wabash has really been a little more
prominent in that respect than most other important
managed with an eye single to that end.
The policy that has controlled the management in systems. Daring the late year the average train-load
this respect is seen in the reference In the report to was further enlarged by over 17 tons, bringing It up
the plan for a new terminal bond issue for $10,000,- to 301 tons. Looking back to 1894-95, only eight
000, $4,000,000 of which is to be used for immediate years previously, the average then was only 176 tons.
requirements. This step, we are told, was taken be- The figures in both instances cover revenue freight
cause of the pressing necessities for new terminal alone. Including company freight, the actual trainfacilities, which called for immediate relief.
Kew load In the late year was 331 tons.
Most important of all, through the improvements
land for this purpose has been acquired at St. L^uis,
at Chicago, at Detroit and at^Toledo. Mr. Ramsey says referred to and the increase in train-load, the trains
that these desirable and valuable terminals will add have steadily increased their earnings per mile run;
80 largely to the revenues of the system that the In 1902- 03 these earnings per mile run averaged $1 83

The average

bond issue will be more
than met from that soarce, and that the outlays will

as against

hasten instead of delay the time when the holders of
debentures and stocks of the company will receive

what in the more recent years, but

as

1894-96 the present rate

much lower,

dividends.

only

fixed charges of the terminal

With reference

to the part played by higher wages

in the expense accounts the last

ment

is

made

that while

two

years, the state-

there were general

ad-

vances in wages daring the year ending June 30
1902, the increases then made did not satisfy all the
employees, and during 1902-03 large additional increases were rendered necessary by the action of
other railways " until every class of the service has
received from 10 to 20 per cent advance over the rate
paid two years ago." It is pointed out, furthermore,
that in addition to the direct increase in rates of pay,
**

rules changing

hours of work, mileage, doubling

only $1 27 in 1894-95.

realized per ton per mile

606

rate

has been improving some-

still

stands

compared with
being

mills per ton mile as against 7*21 mills per

ton mile in the earlier year.
train earnings has

Hence the

increase in

been brought about in face of a

decline in the average rate received.

the company shows a surplus above the obligatory charges and the 6 per cent

The income account

of

dividend on the debenture bonds of only $196,150,
which compares with $201,460 the preceding year.

This relatively small surplus in both years is of course
explained by the remarks above with reference to the
extraordinary outlays charged to expenses, and it is
farther due to the fact that besides the outlays directly included in the expense accounts, the sum of

II

8

THE CHRONICLE.

1198

[Vol. Lxxvii.

I817>289 was separaitly ohargbd at^ttiuat; lacome lu moat 60 per cent, advauclug from 2,^64,219 torn to
1902-03 and $760,648 ia 1901-3— $653,133 of the 3,076,877 tons. Djubtless, as a oonseqaence of the
amonnt in 1902-03 representing appropriations for great prosperity prevailing in the Paolfio Northwest,

new equipment and

additions to property and 1164,sinking
fond
payments
in redaction of debt.
167

with the Burlington & Qaincy. But the extent of
the increase In these items of trafl&o and the further

NORTHERN PACIFIC RAILWAY*
CONTINUED GROWTH.
The Northern

Pacific Billway

is

fact that

one of the three

great properties controlled by the Northern Seonrities

Company,

and the growth in population and Industrial activity
there, the lumber shipments would have increased in
any event entirely apart from the combination formed

these three being the Great Northern Bill-

way, the Northern Pacific R»ilwaj and the Chicago
Burlington & Qaincy, the latter being jointly owned by
the other two. We reviewed last week the report of the
Great Northern Company, and showed how favorable
the results had been In the case of that property. The
Northern Pacific on its part also makes a strikingly
encouraging exhibit.
The gross earnings during the twelve months further increased $4,754,726 and the netl$2,011,046 on

859,915 tons

out

of the

1,395,693 tons

In lumber and forest product shipments was on shipments eastbonnd, suggests a special
stimulating agency like the one mentioned.
One effect of the large gain In eastbound lumber
shipments has been to widen the disparity between
the movement of traffic westbound and that easttotal increase

bound.

being the same, the best refrom an operating standpoint where
the movement of traffic is equal in opposite directions.
In this case it happens that while In 1900-01 the eastOliher things

sults are possible

bound freight traffic (as measured by the number of
moved one mile) formed 62*97 per cent of the
and $4,178,126 total freight movement and the westbound freight
tons

top of the gain of $8,826,396 in gross
in net in 1901-3. In two years, therefore, gross has 47 03, in 1901-02 this was increased to 69-71 per
risen from $32,560,983 to $46,142,106, and net from cent eastbonnd, as against 40*29 per cent westbound,
$16,920,840 to $22,110,012. While we have become while in 1902 03 the eastbound proportion rose to
accustomed to large gains in earnings by the leading 63*17 per cent and the westbound proportion dropped
Increasing efficiency in operations,
railroads of the United States, this is, perhaps, as to 37 83 per cent.
good a record for so short a time as any made by a however. Is constantly being attained, and the average
leading company. Very naturally, as the result of such train-load for 1903-03 was 402 tons, as against 380
gains in earnings, the company's Income'statement for tons in 1900-01 and but 312 tons in 1897*98.
It is pointed out in the report that the excellent
the twelve months reveals some very striking results.

The company was

plus income on June 30 1903 $9,726,666. Moreover,
we are told in the report that the b. sinees conditions

permanent way was mainwork of replacing
temporary with permanent structures continued that
no charges were made to capital account other than
for additional equipment, the construction of branch
lines and purchases of real estate, all expenditures for
improvements having been made out of income. This
last is a statement which all previous reports of the
company since its reorganization have contained. On
account of the heavy traffic and heavy motive power,

prevailing in the territory served by the Hies of the

the

able to repeat

the approplatlon

of $3,000,000 out of Income for additions and betterments made the previous year; also to pay $10,074,943
In dividends on stock (the

distribution for the twelve

months having aggregated 6^ per cent) and

still

had

surplus of $1,670,946 on the operations of the
twelve months. This latter, added to the accumuleft a

lated surplus of previous years,

made the

total

sur-

physical condition of the

tained during the year and the

—

company the

late year

deemed

it

advisable to in-

system warrant the prediction that the current fiscal crease the main line standard weight of rail from 73
year will compare favorably with the year under re- pounds per yard to 85 pounds. Three hundred miles
of rail of the latter weight were purchased, of which
Tlew.
No statement is given of the results of the opera- 103 miles had been laid at the close of the fiscal
ation of the Chicago Burlington & Qaincy, as that year.
Notwithstanding the liberal appropriations from
company always makes a separate report ; but lb is
Income,
the company's capital expenditures, like those
declared that the results for that property have been
of
other
important syatems, have baen large. The
furthermore,
that
the
expected
highly satisfactory ;
advantages to the Northern Pacill:: and to the com- expenditures on capital account during the twelve
munity served by it from the acquisition of the Qaincy months were $8,193,434, of which $3,924,300 was for
new equipment. Since September 1 1896 the comlystem are being fully realized.
pany has had available altogether $35,647,999 of cash
makes
pertinent
remark
a
reference
to
This last
some changes in the character and composition of the on capital account and its expenditures have been
company's traffic which have occurred. It will be re- $34,344,370, leaving $1,403,639 of cash unexpended.
membered that one object In view in the acquisition The net increase in funded debt during the year was
of the Burlington & Qaincy was to furnish a market $6,467,944, besides which the company realized no less
la tne territory of the Qaincy for Pctclfio Coast lum- than $5,393,896 cash from the land department.
The total of net moneys from land sales drawn from
It is hence not surprising to find that while
ber.
total freight tonnage rose from 11,080,101 tons in the trustee since September 1 1896 has baen almost
1901-02 to 12,791,717 tons in 1902-03, being an in- twenty million dollars ($19,796,235), this forming
crease of 1,711,616 tons, 1,395,693 tons of this increase was in the lumber shipments and in the ship

ments

of various forest products other than lumber.

part of the $35,647,999 of cash raised for

outlays during that period of time.

new capital
The large land

grant held by the company has been one of its features
of great strength.
Oa June 30 there were still 16,-

lumber ship
ments increased about 26 per cent, advancing from 616,913 aciej of land unsold and $7,036,811 of oaah
The net sales of
1,640,475 tons to ^2,013,510 tons, and the shipments still due on land contracts.
the
land
for
twelve
months ending Jane 30 1903
of forest products, other than lumber, increased al<

Pat

in

more

exact

form,

the

t

I

;

.

Oct.
were

THE CHRONICLE.

17, 1903.J

acres

2,309,141

$6,423,180, of which

a

for

oonslderatloa

amount $3,630,661 was paid

isfactory results for several sucoeaaive years.

In

1903 the gain was $5,376,413, or 9 66 per cent, and In
1901 the Improvement was $6,528,832, or 1089 per
In the table which follows we give the comparcent.

Is

speonlatlve and grazing purposes, enabling

the

Thus

of

represented by contracts for
We notice, however, that the
Land Commissioner expresses the opinion that this
total of sales will not be maintained the present year.
He states that the demand for lands was mainly for

cash and $2,792,639
deferred payments.

1199

isons

back to 1893.
MUeaw.
Y*ar

com-

pany to obtain high average prices. This demand
within the last three months has materially fallen off,
and hence so large a call from the same quarters if
not expected In 1903 04, although the Commissioner
looks for a fair demand from stockmen for grazing
purposes.

In the matter of cash resources, the Northern Pacific
Including the
holds a position of unusual strength.
dividend payable August 1 1903, the total of current

and contingent liabilities on June 30 1903 was $10,As against this the total of current assets
734,761.
at the same date (Including $3,460,461 material on
hand and $13,828,046 of treasury securities) was
The amount of cash on hand and In
$38,387,348.
banks to the credit of the company alone Is given as
$8,023,630, and In addition there was about two million dollars more cash to the credit of the various

in

Orou amingt.

r«or

Qivtn.

atptember.
1893 (127 roada)
18M (1<« roadR)
1895 (130 roads)

l89«(117ro»di)
18U7I128 roadil
1808 (123 roadi)
IHM (111 roads)
leOO (101 roads)
1901 (00 roads)
loot (78 roads)
1008 (78 roads)

F«ar
Sioen.

MiUt.

t

»«,7d3

Inereoj*
or
Dtcrtat*.

F«ar
PrtetHnt.

t

%

06,5fiB

90.348
04.606

V4,101
90,468

01,261
80,69a

44,'.!23,eO«'

15.083,181 Dec. ?.«62,lfl7
48,367.6'>K Int. 1.86&,807

41,661.837

4a,U6».a'4£ IHc.

96.HeB

94,4<;8

40,78

B."<

48,334.19)^ Inc. 6,337.666

91.617

00,818
04.SC3

47,105,01)4

4l.879.1»r< Inc. 2.735,li08

02,903
90.204

68.370 68^
66,491.4e0

96,700
te.i«a
101,109
8B,aH0

41,708 051

49,537,6 "i!-

48.120.9fl<

1.7

53.6S2.58i

rite.

4,833.flOT

403.895

63,00 »,S3H Inc. 6,878,198
Inc. 1,097,043

67, 173.54

."^

5.»,162,688 Inc. 6.628.882

88,08.1

61,eS4.fl8r

E6.9:8.21!i Inc. 6,876,418

90.163

88.703

08,198.eU

e8.74'?.86- Inc. 4.444,651

98.803
os.seo

89,713
93,786

874,84 1,9HS
310.657,81'

876,840,724 Dee. 8,693.741
371.0H7.8l7 Dec.ei,S80.031

Jan.

1 to S</>t. 80
1808 (12i roads)
1804 (117 roads)
t8M (118 roads)
1886 (111 roads)
1807 1184 roads)
1808 (182 roads)
1890 (108 roads)
1000 (101 roads).
1901 (63 roads)
1008 (78 roads)
IOCS (73 roads)

93,487

98.197

3SB.S»8.a26

sta.fOT.aso

88,823
95,860
61,473

87,4(14

826.003.46<

93,807

851,545.80f

312,939,9b0 Inc. 18,973 470
3»3,680,i6M Inc. ia,»88.641

00,-|76

866.88 i.691

819.888.352 In*. 30,895.246

95,181

01.026

436.131 2i;

399.535.99.' /ne. 38.805.318

es,i66
100,498
83,6S0

03,008
98.531

470,582,60(>

423 690,981 Zn<.46.901.87e
476.816,865 /n« 80,0.'5,e97

88.093

025,841.68V
48».2&6.53l

00,183

88.':03

661,864.889

ffM!.

18,088,995

481.747,108 Ine. 37.609.83;$
600.075,914 in€.61.778,474

NoTB.—We do not Inelade the Mexican roads In any

of the yeara.

We

have referred to the irregularity of the grain
movement. Taking the figures for the four weeks
ended September 26, we find that the receipts of wheat
at the Western primary markets were 26,730,663
bushels in 1903, against 31,812,686 bushels in 1902

funds.

RAILROAD GROSS EARNINGS FOR
SEPTEMBER.
There are no new features to report In the gross

of corn, 18,497,712 bushels, against 8,604,112 bushels;
earnings of the railroad transportation lines of the of oats, 13,026,661, against 19,877,636. Adding barUnited States. Our figures below cover the month ley and rye, the aggregate of the grain movement at
of September, and while in amount and per cent the these Western markets was about two million bushels

not as large as in the months Immediately preceding, yet the comparison must be considered very gatisfactory, having regard to the condiIn the South, on account of
tions which prevailed.
the lateness of the cotton crop, there was a very
notable contraction in the cotton movement. In the

Improvement

is

West the grain movement was decidedly
the wheat receipts were

much

considerably larger,

with exceptionally small totals last year. On the other hand,
there was a falling o£E of several million bushels In
the receipts of oats, this species of grain having been
rushed to market in unusual quantities in 1902, influenced by the very high prices prevailing at that

weeks

being 66,058,071 bushels, against 68,204,403 bushels
In 1902.
We may say that in the same four weeks of

1901 the deliveries were 67,706,633 bushels.
ORXIM rOB rOlTB WEEKB aiTDIHO
AMD 8IH0B lUSVJkXT 1.

RKOUPTS OW ri.OUB

AJID

•BFT. 26

now.

WUnt,

Com,

Oats,

BarleVy

Rv».

(bbtt.)

(Jbuth.)

(bw«A.)

(bt»*?i.)

(biMA.)

(6i«fh.)

CMenoo—
660,08'
3,631.025
4 wks. Sept..l908
477.79.'
5,641,191'
4 wks. Sept.,1902
1903
1»,69S294
6,105,81^
Since Jan.1,
Since Jan.l, 1902 5.669,169 2»,567 91-

18 131.441

5.176.075

1,826,198
1.706,57
'3,581,860
83,919. 2Sb 54,22^,617 7,758,222
5,518,77.
9.439,08
««274,<i0)' 'lH,0896-(«

-

121.775
63S.703
2.284 823
1,738,748

miviauket—
4 wks. Sept., 1903
4 wks. Sept.. 1903

282.975
B57 43f
Since Jan.l, 1908 8.295,O0Ci
Since Jan.1, 1903 2.363.29'<
at.

673.801

717,800
4.62l.75t
6,468.80'

157.701
75.051
l,«69.4l(
3,8o7,13(

62).000
(-or, 300

»,590.650
1,63»,90C

6,43-«,8)0

9,319,3fi(J

5.281 oac

6.303 930

80,800
196,867
68ii400
748,467

79,000
98 OJO
00
735,e8r

78,800
161,516
876,097
433,833

82,718
7,«00
87,71e

13-(,738

18.784

223,390

Lou4«—

4 wks.8ept.,190&
4 wks. Sept., 190V

216,56:
178,00'

91noeJan.l,190S l,57e,«3o
Since Jan.1. 1902 1,647,106

time.

2.612.911
S.633.802
16.ii78.720
20.527.7bti

1.141,868 1,144.676
553 3Sti 2,18j,485
18,193.82- 16,003,800
9.748.84 14,719,886

1,392.'

loitAo—

further circumstance in the comparison should

net be Ignored,
in such an

last year, this year's total for the four

Irregular;

owing to the fact that comparison was

A

than

smaller than last year,

receipts were

while the corn

less

namdy

unwonted

that our Industries were not

state of activity as was the case

and labor dlffiulties having caused many shut-downs and the iron and steel
industries having been in a somewhat unsettled condition, leading to the stoppage of a number of iron and
in previous months, strikes

4 wks. Sept.,190S
4 wks. S9pt..l902
Since Jan.l, 1908
Since Jan.l. 1902
4

Detroit—
wks. Sept.,19a-

4 wk8..Sept..l901i
Since Jan.l. 1908
Since Jan.1. 1902
Oi«r<lafi(J—
4 wks. Sept..l90:

724
,

3.85(

23,50C
37.30(
199,l5(
264,361

As

it

happens, however, none of the distinctively anthracite
carriers ever make returns in time for our early preliminary compilations.

Oar statement comprises 90,183 miles
September 1903, and on

of road for

mileage the increase In gross earnings as compared with the same
month last year reaches $4,444,551, or 6*98 per cent.
This follows very substantial gains in the same month
of the years preceding, September having yielded satthis basis

of

499,507
1,059,735
5,107,S86
6,088,817

1,539,800

683. «00
94 1,9 JO
7.6:3.600
9.681,896

8.390,dUi

28a.00<

7i;4,H78

1,161!

Ptoria-

absence of the anthracite coal miners' strike, which

time in 1902.

689.884
858,710
5.995.92B
3.6o6,o4b

596,30.
f9,95(
60,10'

affairs at this

1,238 91t)

140,77f
2M3,42<

80,200
64,760

572,1«2

2.0<(8.67<

l,50»,8Ht-

582,606

was a feature in

3,588,837

1.810,65fi

1,29 J. HOO
5,134,489
6,733,157

a.H8M,700
3.099,247

68,557

4f.43:<

0<!

361, 14(
17ft,»05
8,600, lOi

747.au

Since J an.l, 190:^
Since Jan.l, 1902

existed this year

202,42

1,4-5,500
aa8,40t
10.036,t

4T3.:26
l,4l3,4t(

Since Jan.l, 1908
Since Jan.l, 1902
4 wks. Sept.,190S
4 wks, Sept.,1902

One advantage

4.749,"lb
10.077,96

4 wkB.Sept..l902

—the

steel plants.

141

2,190.92f
,

i)i»Jut)»—
4 wks. Sept.. 190:4 wks. Sept., 190'.

734.2a(

675,000
577.501

f2,S0('

691.HG0
2,337,136
3,157,80)
8,268,794

9,-' 25,722
Since J an.l, 190;^ .",025, 90(
Since Jan.l. 1902 3,789,30U 17,335,alt
M.inn tavolii—
4 wks. Sept., 1908
9,a£8.38;'
4 wks. Sept.,1902
e.H79 182
•.
49.9-t2 8'0
llnoeJan.1,1908
SinceJan.l, 1908
47,464,72 J
.

1,024,101

16.323 95U
12.268,68t

283.008
85,161

974
69.6at

7n5,9-(^

2,624 ,')84
038,359

213,88>' 2,425.33
95,930 2,0i4.0i;i
2,lb6.M'i7 la,461,5Jl
2,42t),625 6,Vi9.4lb

67,101
92,80f.

11,200
70,300

1.235.000
842,000

808 400
2;j3,300

179,098
898,822

1.207.491
1.817,411
2,012,486

469 331

1,34M38

479,733

9,370 670
1,634,833

133,150
19 ,907

5,43tl,7d(

8 6.650

2,774.543

510,538

-i

Kantat Oitv—
4 wks. Sept., 1903
4 wks. Sept.,1902
Since J an.l, 190S

8,55«,4iJ0

414.4')0

20,302810

12,155.340

670,300
4,9j2,200

Since Jan.l, 1902

ie,OlS,»0(J

ll,l;03.bOO

6,119,)50<

lotaj n1 all4 wks. Sept.,1903 1,743,60.'^
4 wks. Sept.. 1902 1,751. 67'.^
Since Jan.l, 1903 13.532 52
aiBce Jan.l. 1902 14.848.S4b

5.898.PO0

934,200

I

B67.04'

25,730 5*'2 18,497.718 13,025,551 8.16.<?.S3fc
H,50l.ll2 1M,377,53' >i,388.911
31.818 63123.8B6,912 136,4<8,34<J li^.-tes^i 3 <.6»<i,8i.'H
149.345,371 >10.l^2 194 iue4g9ti 9,363. 5*
1

i

640,421
1,'!21.159

5.480,180
«.H81,0q4

II

8

)..

.

.

THE CHRONICLE.

1200

[Vol. Lxxvii.

we hayo ihe waen passenger earnings In this one month had ln<
fignres for the eyen month, and thej show grain creased as much as 1801,272.
Contrasting; 1903 with
receipts for September 1903 of 26.560,825 bushels, 1900, the earnings of the Central now at 17,056,161
against 24,647,150 bushels In 1902, 25,028,786 bushels compare with 15,874,849 in the earlier year. The
in 1901 and 32,237,437 bushels In 1900.
In our usual following shows all changes on the separate roads in
At Chicago, the

largest receiving pore,

form the statement

excess of 130,000, whether increases or decreases.

as follows.

Is

BSOBIPTS AT OHIOAOO DDKINO •KPTBMBBB AKD SIMCB JAMUABT

PBIMOIPAL OHAHOBS IN

1.

GROSS ABHINOB IN SEPTEillBER.

Increases.
Stptember.

Sinet

1903.

1008.

January
190J.

1903.

1901.

Mo. Paolflo&lr. Mt.
Central Branch ...

1.

IPOl.

Wheat bnsh.

3,704.8T6

Corn... bash.
Okts...biish.
Bye ..bosh

18.«ai.ei6

e.0« 1.085

6,778.575

10.184,691

e.2l9.5k'9

65.886,4«4

\ev,'i2o

665.333

308.C91

2,241,03}'

1.714.'*4B

1.745,1»1

BarlSTbaab.

3,892,034

l,8!*i»,777

».4t}5,40S

1^308.1286

7.788,388

8.298.245

Total grain •5,660.885
637,376
rionr ..bbls

i4.6i7.15('

.

2J8
30,165

9.971,418

7."?

6,7rt«,287

2.339,185
460,037

495.452

54.40!<,4!3 70,71*0.223

86.088,78(5 166.654.649 188.^0^686 189.480,276

609,851

820

Pork....bbl»

Ontmt*.lbs
Lard
lbs.
Lira hoKiNo

37.169,160
7.716.898 15,681.169 16.858.6'
8,317.993 69.101.987 84.141.607 71,417,6X7

a,oin.s84

766.773

5,147,671
3.0'4

6,410.181

6.74 1.M5

6.131.1iT

7,141.267

3.090
9.008
521
15.716,868 110,822,614 69.673.0. 7 129.563,923
4,514,642 24,466.215 38,57.<.634 68,175,»11

539.580

6.839.1

06

The closing lines in the foregoing table Indicate ine
movement of provisions and of live hogs at Chicago.
The deliveries of hogs, it will be observed, were larger
than

being 495,463 bead, against 460,037
But
when
head.
the comparison is extended further
back, it is seen that in 1901 the deliveries comprised
639,630 head and in 1900 626,757 head. The cattle
receipts at Chicago appear to have been heavier than
last year,

>

594,761
398.778
388.840
354.672
236.618
207,650
189,672
166.876
96,725
96.146
92,327
91,021

S

(3 r'da).

N.Y.Cent. &Hud. R..
Canadian Paoiflo
LoolBvUle A NashvlUe
Southern Railway
Norfolk & WeBtern
Pere Marquette
|1

IlllnolB Central
Nash. Chat. <jb St. L...
Toledo A Ohio Central
ureal Northern Sys >
Montana Central . s
Chic. Great Western..

New Or. & T. Pao.
Kanawha & Michigan

Rooh.APlttsb'Kh
A Bio Grande

Bnff.

Denver

Chlo. fndpls

Louis..

<fe

Lake Erie & Western

.

T. P.

^,,
„-,2
90i.avi

J

48,731
46,007
43,111
39,274
37,264
33,935
30,740

& Southern.
L. & Western.

Colorado
Tol. St.

Southern Indiana
Ala. Or't Southern
Terre Haute & Ind.. .

Total (representing
85 roads)
$4,631,367

Decreases.
Minn. <k St. Louis
Northern Paclllo If
Mlnn.St.P.&S.Ste.M.
Seaboard Air Line
Central of Georgia
Mo. Kans. & Texas...

86.422
80.587
80.139
71,052
70,888
64,800
62,039
04.100

Oln.

&

System (3 roads).. J
Wheeling & Lake Erie
Hocking Valley

s

Baltliuore A Ohio...
B. & O. Southw...

Wabaeh
Or. Trunk Sys

Inereanes.
Ala. N. O.

8827,000

$87,596
68.195
61,674
49,975
49,420
44,880

Total (representing 6 roadb)...

$351,640

Includes Lake Erie & Detroit River Ry. In both years.
^ Includes proprietary roads In both years.
II

To complete our review we

furnish the following

six-year comparisons of earnings for the leading roads,

arranged in groups.

though at some of the other Western points
ABNINOS or MIDDLB AND KIDDLB WB8TBBN BOAD8.
they were smaller. Taking the five markets together,
September.
190S.
1908.
leoi.
IVOO.
1899.
Kansas City, Chicago, Omaha, St. Louis and St.
«
t
t
S
t
144.87?
139,006
107,29b
167.867
141.638
Joseph, the cattle receipts foot up 1,031,600 head in inn Arbor
Bnff.Rooh, & Pitt^
618.65S
714,410
684,81^
494,61^
409,693
September 1903, as against 1,074,340 in September OhloJnd.A LonlST 492,661 430,e2< 898.661 86!:*,238 871,141
162,01B
U8,ei4
119,697
126.081
124.0S0
1902; the hogs receipts 997,287 head against 869,968 HlTansv.4 Terre H
Hooking y alley.
544,827
468.74''
498.820
891,05
345.500
and the sheep receipts 1,085,571, against 1,066,287 lUlnoli Central.... 3,830,602 8.784,45' 8.436.2:9 S,118,e^l 2,737.104
Pere Marqaette.. •1.082,010 •9S5,285
7d0.681
831.734
678,H62
head showing that on the whole the live-stock move- 8U
L. Van. * T. H.
196.3^0
180,57fc
216,737
174,474
176,604
ment at the West was somewhat larger than a year ITol.AOhloCent.. 340,221 849,200 248,906 810,418 189.74^
in 1902,

With reference to the falling off in the cotton movement at the South, this was very pronounced, the receipts

the Southern outports having been only

at

September 1903, against 901,354
bales in September 1962.
The shipments overland
were only 9,287 bales, against 40,887 bales in 1902 and
673,421

bales

BBOBIPTS or OOTTON AT 80DTHBBH POBT8 IN 8BPTEMBBB, AlfD FBOM

JAVCABT

1

TO BBPTBMBKB

30. IN 1903.

1902 AND 1901.

118,807

105,87ii

96.466

107.68-

876.866

286,i8l

226,676

173.87e

168.78b

Wheel.

899,958

861.22'

809,892

266,884

833,604

8,339,927

7,725,116

7,014.616

6,318.177

6.688,16f'

6.007.728

S(

L. Brie.

Total
•

Since January

Stptemher.

1.

1903.

OalTMton
Sablna

bale*

Paw &o

11:4.688

19C8.

316,708

1908

1901.

1903.

172.703

78 -.86; 1,029,776 1.014.618

1901.

78.887

1,088

1,994

1.541

IfawOrleani...

86.0t-6

114.86fl

Mobile

19.637

166.018
ie,805

ii.iee

91,954

64,928

18.867

2.461

67.771

99.421

107.641

143.49?

8.475
lt».»70

ts.ois

611.607

648.e50

6,'-70

10,965

10,787

61,69'

54.664

Otukileiton

30,684

11.88V'

64.16:

133, 10.^

PortBoyal, &o
Wllmliuton

2
55,036

67,355
14

480,072
84,310
75.862

14;

986

1,816

15.59S

118.294

160.083

67,666

88

so.SEa
42

111

102

71

47.708

83,871

16.831,-

S09.7(9

206.t»98

8c8

8.897

62t

15,92t

28.57<

188.007
7,678

B7S.481

901,564

Penaaooia. Ao.
BaTannati

8.65L

Bnmswlok.Ao

WaihlQiTton, Ac
Horfolk

Newport Newi. *o
Total.

l.S

108.00(<

80,904

078.161 1,119,358 1,060,628

4*0.807 2.9«9,87S S.4«6.78 )

8.

1

37.786

Among
sive list

the separate roads we have the usual extenof roads with large gains, though there are

somewhat more numerous decreases.
have followed entirely from the condi-

also this time

These latter
On account of
tions and drawbacks set out above.
the improvement in previous years the further gains
the present year are in some instances more signlfi
cant than would appear from the face of the returns.
Take the New York Central, whose increase this year
This seemingly follows only a relatively
is $364,572.
small increase in September 1902, but the increase
then was small simply because comparison was with
the period of the Pan-American Exposition in 1901,

A Detroit River

Inoludea Lake Brie

1C4,429

Ry. In 1003 and 1902.

BARNINGB OF TBDNK MNB8.
Septemier.

1908.

1902.

1901.

1900.

«

t

$

1

8al.& 0...
6,(^5.195
B.* 0.8.W
P.4 West
a.T.ofCan. )
Qr.T.West > 3.274,245

D.a.H.&M
Portf.

338,381
823,086

Tol. Peo. & West.
Tol. Bt,Ii.& West.

in

32,666 bales in 1901.

t
121,0«5

108,067
241.688
8.384,614
684,712
170,641
164.700
95.<78
194,606
100.428

—

ago.

law.

5,430,434

$

C

8,927.8B(-

3.620,830

t

317." 79

296,766

2,037.169
837,25£'

8,080,658
810.48C

S8,0H4

98,926

97,332

\

4.097,838

<

f 2.187,U7
4i3.i«e

8.885.405 <

)

1898.

1890.

(

8.687.698

701.466
289,001
1.668,780

308.172
92,203

N.Y.C&Ht

7.056,161

6,701.679

6,686.671

6,874,84t.

4,843,781

Wabash....

2,2311,637

1.840.909

1,661,885

1,615.671

1.497,841

4,884,968
1,888,630

IS.595,278

16,868,827

15.973,691

14.303.7 9P

12,747,09:

11.373.872

Total.

..

r Boston A Albanv Included In 1903, 1902, 1901 and ibOO: the Beeob Creek
RR. and i&e WallklU Valley BR. for all the years, and the Fall Brook system

after 1899.

HiAKNINOS OF
September.

1902.

1903.
1

Col,

&

8outh,

ste.ses

aen.AR.Ur. >
B.Gr. W..)

SOUTHWBSTEBN OBODF.
1901.

C
508,472

$
876.786

1.628,600

1,615,690

1S.O0.

1890.

$
377,216

«
326.1U

I

1.089,261

I

460,973

957,276
877,65?

3227.000

8,107,4:-3

»,b36,7i!0

8.794,684

649,13i-

f!19,02'

t51.41(<

524, 163

989,884

966.182

609,198
919.360

804.036
801,680
428,603
1.268.878
2,486,688
681.818

814,806

718,286

6tie,860

0,020.80e

9.t68.358

8.617.032

7.921.289

7,463,894

1.688,40'

Int.AGt. No.
ii.0. K. A Tez

530,77)

636,67b

435,516

886,21.'i

448,861

1,618,58C

l,e63,4«0

1,463.101

i.3^e,e6i

1,383,477

Mo.P.Alr.Mt

4.054,00'

Bonthw
Texas & Pao.
at.L.

Votal.

1888.

BABHIHQS OF MOBTHWB8TBBM AMD NOBTH PAOIFIU QBOUP.
September.

Canadian Pacific

1902.

1901.

1900.

1890.

1
8,888,000

t
3,651,482

t
8,864,024

(
2,663,492

1
8.ei0.78f

670,91t

1903.

1898.

T
8.806.886
651,646

743,264
841,636

682,677

664,64:0

6e0,48b

Dnlath8.B.<kAtl
great North. Sys.
Iowa Central

241,617

811,441

328,084

231.42b

160,648

4,190,144

4.112.782

3,876,860

8,113.271t

203,140

S04,56!'

837,331

2,8«5.28«
208.037

Mlan.A St. Louis.
M. 8t.P.&S.8.M

863,636
648,704

207,028
851.882

8,696 662
206,851
!)06,3i3

274,449

666,76)

393,984

276,080
618.766

238.810
602,371

8,889^768
190.01(

2,041.466
184,826

653,71(

486,784

Ohio. Qt. West..

—

North. Paolflc.b

at.PanIA Dul!i
Wlsoonsln Cent'l
Total.

695,!j68

4,664,386

4.638,580

680,600

579,826

3.862,037 8,]3l,505(

492,81b

470,681

16.312.388 15.184,631 18,189.81^ 10,866,877 11,781.050 10,681,048

klnolndes proprietaxr lines

Id all

the years.

I

.

.

Oct.

......

.

THE

17, 1903.J

CTIKONICLE.
GROSS EARNINGS FROM JANUARY

axKIIUfOS OF BODTHBRH OBODF.
1900.

1008.

1801.

•
«25.ai8

t
18e.880

t
17S.3«»

181.F84

580,843
r:o.83<;
460.800
500,3*680,477
01aJ<.0.&T«z.P.
LoaltT.iJi Nasbv.. 6S,i9C,770 69.8?i8,120 68,440.118
fB06,«6.J
t474.001
t«08.7i>0
Mobile Jk Ohio..
llMti.ChaL& 8UI. •83a,091 •738,784 •886.474

e48.o^l^

668,064

391,887

443.811>

468,284
449.O10

68,315,729 2,897.217

1,940,957

t475,08'^

+478.80H

356.894

•6SP.S!35

•62<),«16

Stptimher.

1908.
t

sse.us

A.Ub*ma

Ot. So.
Oant. of Oeorsla.

820.26«

A West..

Norfolk

1.8il,T86

BootherD Rr-.

*

6

1,366,660

8,098.328 3,000,478

3,090,34'^

673.187

688.181

464,710

4B8.589

IS.873,609 11,068,768

8,808,707

8.384,884

TMOo*Mlu.TaL

•

1,466,813

1889.

3.810,0! 4

.V.I
BCLoals Dli

Tot*l

l,e84,eO0

1893.

»

t
161.304

1.221.37U

628,178
1,018,078

a,«83,Sl(

8.437,504

184.644

147.149

44^.824

809,606

1

8,149 049 7,797,716

InoiQde* Padnosli & Memphis Division In these rears.
Inolnles Mont«umer7 Division for 1909. 1908, 1001, 1900 and 1609.
FreUht on mntertal carried for company's own nse Is no lonser credited

to

OROBB £ARKIN08 AND MILfiAGE IH SEPTEMBER.

1903.

1902.

Tficrecus or

Decrease.

9
Alftbama Ot.Soath'n.
Ala.N.O.&Tex.Pao.N. on. A No. East..
Ala. & Vlckab
Vlokeb. Shr.&Pao..

Ann ATDor

tlanU Knoxv.&No.
& Ohio.
B&It. A O. Ho'wn.

Baltimore

)

BeUefonte Central..
Baff. Kooli.

& Plttsb.

Oanadlan Faolflo

259,553
199,34?
99,632
116,692
167,299
83.582
6.025.195
6,427

.

A Indlanap.
EraiiBv. & T. Haate.
Ga Boath. & Florida
Evansv.

Gr.Trunkof Can...)
Gr. Trunk West.. >
Det.Gr.Hav.&M.;i
GUNo.-S.P.M.&M. (
Eastern of Minn,

Ship Island..

Hooking Valley
Illinois
Illinois

CentraL

Soathem

Iiitemat'l& Gt. No..
Iowa Central

Kanawha

<h

Mich .

& Western
& Nashville.
Maoon & Birmlnfir'm
Lomsv.

Manlstlqae
Mineral Range

Central Branch
Mobile Jack. AK. C.
Mobile & Ohio
Nash. Chat. &. 8t. L..

Nevada-Oal-Oregon.
N.Y.Cen.&Hud.Rlv.*
Worfolk* Western..
northern PaolflcU....
Pere MarquetteJ
Rio Granc e South'n.
St. Loois South wes'n
8t L. Van. <te T. H...
San Fran. & No. Pao.
Seaboard Air Line.
Sonthem Indiana
83Uthem Railway
.

&

Haute*

Indlanap.
Peoria...

Texas Central
Texas APaclflo
Tol. & Ohio Central.

A

lol. Peoria
West'n
Tol. St. L. <k West....
Toron. Ham.
Bufl..

&

Vlrglmla&Southw...

Wabash

,

Wheel. <fe Lake Erie..
Wisconsin Central...

YaiooA

Miss. Val...

Total (73

27
600

+70,888

680,477
549,583

-49,420

-362

+ 80,587
+ 62,089

430,t>2i!

-4.864

145.997
500,338
606,472

+ 80,139

roads)....

Mexican Central!....
Mexican Railway...
Mexican Southern
Nat'l RR. of Mexico..
.

.

195
143
189
29i;

7.748
1.845
105

92S
666
108
836

809
195
143
189
292
250
8.884
27
472
7,590
1,845

105
929
547
108
336

1.121

1,121

2.398

152,314
241.526
35,384
162,016
121,124

+25,251

432
874

2,878
401

3,274,845

8,886.406

3.964,260

168,472
134,775
498,820
3,734,456
13.013
536,679
207.028
62,074
433,670
2,888,120
15,700
7,950
43.213
351,232
695,368
1,663.460
3,122,000
105,000

487,770
3,095,770
9.918
46,586
263.636
643.794
1,618.580
3.89tJ,00u

ISa.OOO
§27,625
dO8,790
832.091
20.482
7,056,151
1,841,786
4,564,885
1,082,010
37,379
649.138
816,737
135.478
1,039,471
109,16-7

3,810,014
192,407
62,055
67,935
929,834
340,221
113.607
275.555
54,579
69,242
8,239,687
399.952
690,500
573,197

§15.93i

606,252
739.764
24.144
6,701.579
1.684.909
4.632,580
985,285
48.427
649.025
196,320
128,438
1,089,446
71,903
3,620,342
161,667
63.318
65,623
956,122
249,800
105,872
236,281
88,478
47,767
1,840,909
851,221
579,825
568,167

-91
—107

.146

+ 13,402
+ 8,232

162
895

674
146
162
285

+888.840

4,085

4.082

+63.371
+23,051

5,628

5,494

860

+ 24,844
+ 46,007
+ 96,146

251

347

260
251
347

4,296

4.284

+ 3,009

96

96

-5.90S

1.104

1.006

+ 1,112
+ 71,052

658
177
880
8,679
97
64
187
642

658
177
880
3,432

1.469
2,733
6,305
388
96

1,412
2,555
5,182

+54,100

+207 650
—5,782

+688
+3,373
-87,596
-51,574
-44,880

+ 774,000
+53,000
+ 11,694

97

64

127
642

+ 3,538

912

388
70
874

+92,327
-3,662

1,201

1,195

144
3,422
1,722
6,482
2,084
180
1,308

3,320
1,710
5,382
2,084
180
1,298

+ 364,572
+ 156,876
-68,i95

+ 96,725
-11,048

+ 113
+20,417
+7,040
—49,975

+ 37,264
+ 189.672
+ 30,740

144

158
165

158

2,611

2,607
154
7.107
80
174

154
7,124

16.1

+ 8.737
+ 2,312

80
174
227

—26,288
+91,021

1,754

1,707

436
248
461
88
134

436
248
451
88
134

+ 7,785

+ 89,274

+ 16,101
+ 21,476
+ 398,778

227

2,486

8,484

+ 48,731

+ 10.675

469
977

469
977

+6,030

1.171

1.162

68,192,919 63,748.368 +4,444,551 90.183 88,703

Mexican Boads—( Not Inclnd ed In total
Interooeanlo (Mex.)..

1902.

+43,111

181,523
169,619
544,827
3,830,e02
16,022
530,771
208.140

§397,000
1,985.819
§407,200
1/61,644
7 63.521

+ 13,770

738

1,657,418

+327,901

§379,800

+ 27,400

2,897
321

J/53,093

+8.551
+85,814

263

555
2,686
321
263

1,603

1,355

•Boston and Albany Included In both years.
t Results on Monterey ft Mexican Golf are Included in 1903 and 1902
and Mexico, Cuemavaca & Paclflc, Rio Verde Branch, etc.. In 1903.
I Inclades Lake Erie & Detroit River Railway.
§ Figures are for four weeks ending Sept. 26.
Includes proprietary roads In both years.
y Figures here given are for three weeks only ot the month in both
years, the fourth week not yet reported.
i Inclad«8 earnings ol Iron Batlway Oo. In both years.
II

t

S

S

8.168,809

1,889,00&

279.804

N.O. ANortheast'n...

1,784,110

1,549,16S
729,242

234,957

840.91.'

Alabama A VIoksb'g.

8.^5,203

VlcksburgShr. & Pao.
Ann Arbor
4tl.

A
A

Knoxv.

Baltimore

North'n.
Ohio....;

Bait. A OhloSo'w'n
Belief onte Central
Batf. Kooh. A Pittsburg.
Canadian Paclllc
Central of Georgia

Oln.

NewOrl.&Tei.Pao.

Oolorado A Southern...
Oenv. A Rio Grande..
Rio Grande Western

Dter^ait

Inereaie.

lv;5.901

959,461
1,093,976
583,272

1,871,283
491,73t

118,646
221.693
61.836

49.666.552

44.546,059

5.109,893

•*••••«

65.083
6.910.832
33.403,960
6,667,378
91,571
6,020,857
3,983,418
1,290.«03
5.004,993
4,029.675

48.186
4.850,396

11.897
1.060.636
38,0,57.7R9 6,346,177
6,873,965
793,413
82,a0t)
8,765
5,385,497
636.380
8,494,310
489,099
1,261,788
28,815
4,880.23^
634,755
4,811,728
317,947
13,499,279
241,878

— .•.••.

12,741.167

Trunk
Gr. Trunk Weateni..

(j^rand

971,04C

1.178,482
2,116.9^6
297,211
1,858,770
1,254,381

2.082.404
267,681
1,187,121

972,508

802,442
34.551
29,58(
171,649^
281.84fl

-•>•••••

«**•»»•

'

')

>

86,420,866

22,644,685

8,876.181

GreatNo. St.P.M. A M.
East'n of Minnesota

Montana Central

87,810,810

26,837,232

1,673.078

1,643,111
1.328,261
4,762,091
84,752,996
112.688
8.893.852
1.760.768
1.186,341
3,891.362
87,099,124

1.416.908

Ship Island
Hooking Valley
Illinois Central..
ailnola Southern
Int. A Great Northern.

Gulf

ik

226,203
218,113
587.697
4.083,302

Lowa Central.

-

Kanawha A Michigan.

.

A Western...
LoulBvlUe A Nashville..
Macon A Birmingham..

Lake Erie

100,400
Manlstlque
56.047
Mineral Range.
..
427,115
Minneapolis A St. honlB
2,151.302
Minn. St. P.AS. Ste. M..
6,078,785
Mo. Kan. A Texas
12,323,988
Mo.Paoltto A Iron Mt... 80,759.631
Central Branch
1.089,000
MobUe Jack. A K. City.
§252.103
Mobile & Ohio
6.690,760
Nashv.Ohat. A St. L...
7,466,030
Nev.-Cal.-Oregon
148,149
N. T. Cent. A Hud. Blv.*. 69.698,241
Norfolk A Western
16,834,608
Northern PaolflcU
34.223,313
Pere Marquettet
8,484,113
810 Grande Southern...
382.886
3t. Louis Southwestern.
6,206,251
St. Louis Vand. A T. H.
1,842,098
San Fran. A No. Paoiflo
1,003,128
Seaboard Air Line
9,565,200
Southern Indiana
816,528
Southern Railway
82,178,360
T. Haute A indlanap. ..
1.507,643
Terre Haute A Peoria..
483,744
Texas Central
410,795
Texas A Pacific
8,180,316
Toledo A Ohio Central.
2,862,314
960.394
Toledo Peoria A West'n.
Tol. St. L. A Western,...
2.330.941
433.915
Toronto Ham. A Bufl...
Virginia A Southwest..
510,072
W«ba8h
16,641,404
Erie..
Waeellng A Lake
8,351,972
(Vlsoonsin Central
5,069.096
Yazoo A Miss. Valley..
6,148,425

1,110.14!:

4.194,394
80,669,696
103.621
8,628.800
1.884.936
728,246
3,469,222
28,910.087
98.742
84.371
426.32S

8.968

870.062
124,168
468,095
422.140
8,189,037
1.658

524.066
29,267,407
1,311,370
405,261
360.773
7.662,068
2,157.899

840,904
2,004.034
331.229
391.178
14.582,012
2,796,578
4,712.030
4,690,712

512,318
881,857
613.381
4,705.280
265,000
110,955
619.728
1,174,339
17.458
7.183,397
2,993,403
2,488.576
726,867

Mexican Roads— Not Inolnded In
Mexican Railway
Mexican Southern
National RB. of Mex...

§3,981,190
13,587,282
§ 4,028,000
y735,039
8.436.046

»[!„

•

>>• „,

43,967
82.426
188,780
122,416
635.178
292,460
2,910,953
196.278
78,483
50,022
518,247
704,415
119,490
332.907
101,686
118,894
2,059,392
555,391
857.066
457.713

Total (73 roads).... 561,854.338 500,078.914 62,488,251
Increase (12-35 p. o.)...
61.778.474
Interooeanlo (Mex.)....
Mexican Central!

.

29,324

792

2.663,621)

4,697,428
11,810,577
26,054.401
774,000
§141,148
5,071,032
6,291,691
124,691
62,514,844
13.841.205
81,734.738
7,767.846
426,852
6,123.826
1,653,318
830,711
8,930,022

....

...••...
........
........

709,777

totals.

3.603,030
15,149.027
§3,709.300

§

1/702,905

6,554,487

378,160
3,438,255
318,700
32,734
1,931.559

•••••*aA

••••*«•
-••«••>-•

••••-••«

* Boston A Albany included in both years ; figures for June 1903 are
approximate.
tThe Monterey AMexican Gulf was not Included In 1902 until March 1,
and the Mexico Ouernavaoa A Pacific Rlo Verde Branch, etc., not for
any part of that year; all these roads are Included In 1933.
1 Includes Lake Erie A Detroit River Railway.
Includes proprietary roads in both years.
§ Figures are for period to Sept. 26.
y These figures are down to the end of the third week of Sept. only.
2 Includes earnings of Iron Railway Co. from July 1 in both years.
11

ITEMS ABOUT BANKS. BANKERS AND TRUST GO'S

—The

8.)

§378,230

677.707

1902,

Alabama Gt. Southern.
4.1a. N. O. A Tex.Pao.-

"Vansv. A Terre Haute.
Ga. Sonthem A Florida.

+ 64,800

4,017,621

TO SEPTEMBER 80.

!

1,523,600
127,063
241,617
35.491
148,614
112,892

1,588.400

8,63-

Minn. &8t. LonlB....
Mlnn.St.P.A 8.8te.M.
Mo. Kan. & Tex
Mo. Pac.&Iron Mt...

T.

3,884

+ 1,001
+ 236,518

I33,12f^

.

L.ake Erie

T.Hant«

+694,761

s

Montana Central..

OoU A

250

643,5ft2

9,486
743,264
492,661
141, 13:^

Term. Tr. RR..
Oln.N.O. ATex.Pao.
Oolorado & Soathem.
Denv & Rio Grac de >
Klo Grande West, s
Detroit Sontheme...
DoL So. Shore <hAtl..

+ 16,913
+ 22.426
+ 4.731

3,651,482
820,252
9,798
662,677

Ohattan. Sontbem.
Ohio. Great Western.
Olilo. iBd. & Louisv.
Ohio.

99,775^

144,873
58,851
5,430,434
6,421

714.440
770.832

809

+22,124

H2,355

1

Det. Gr. H. AMllw..'i

177.118
87.827

3.8» 8,000

CTentral ot GeorjfU.
.

$
+33,935

226,618

1903

1908.

Detroit Southern. z
Dnl. So. Shore A Atl
Evansv. A Indianapolis.

MiUage.

Groii JBaminfls.

tfame of Boad.

unattanooga Southern.
Ohio. Great Western....
Ohio. Ind. A Loulsv
Ohio. Term'l Transfer..

eamlnus, the Item baTlng been eliminated from both earnlnss and expenses.
The flsares for 190S, 1908, 1901 and 1900 are Riven on this basis.

Ifanu of Road,

1201

public sales of bank stocka this week aggregate 1,004
shares, of which 915 shares were sold at the Stock Exchange
and 89 shares at aaction. The transactions in trnst company
stocks reach a total of 25 shares. The comparatively large
total of dealings at the Stock Exchange is made np of the
stock of two banks, the sales of National Bank of Commerce
stock, amounting to 705 shares, and of National City Bank
stock, to 185 shares. In the "curb" market 100 shares of stock
of the National

Bank

of

Commerce were

being the only sale reported there.

sold at 215, this

l!

.

THE CHRONICLE.

120-2
Friee.
Bamk*— Wme Fork.
SMmrea.
•185 City Bank. National
260-265
214-215i«
•730 Oommerop. Nat Barkot
Bank
105
10 Equitable Nat.
22 Federal Bank (aes't paid)
100
27 Meohanioe' Nat. Bank
242
10 New York. N. B. A Bank of... 277
20 Northern National Bank
125
Truot COMPAinKS—JVew York.
1 Central Trust Co
1930
24 Far mere' Loan A Trnat Co
1450 >«

lAut previous tale.

Oct 1903— 270
Oct 1903- 214
Sept 1903— 101

May 1903-2460
Deo.

1902— 1600

—The

seven months' extension of time for the settlement cf
the debts of John L. Williams & Soos and J. William Mid*
dendorf & Co., which was suggested to the creditors by the
oommittee having in charge the affairs of the two concerns,
has been assented to by between eighty and ninety per cent
of the creditors of both firms.

effort

on

all sides

the interests involved father than to

and promote
and in j are is very gratifying, paitlcularly

to protect
sacrifice

The earnest

in fcuch a

period of financial stress as we are now experiencing. The
promptness with which the arrangement has been carried
throngh also attracts attention, the committee's circular suggesting an extension having been issaed October 8 and creditors having been asked to signify their assent by October 15.
Considering the magnitude of the interests involved, the celer-

with which the undertaking was aooDmplished stands as a
unique feature in bffairs of that kind.

ity

—The suspension from

the

New York

Stock Exchange of

& Forshay was
Leopold
thls]week,
Z immermanu,
on
Thursday
of
announced
the senior member of the firm, was suspended for oce year
and Leonard S3hafer and Sigmund H. Bcsanblatt for ninety
days each. Ttiis step was the outgrowth of the action of
Kmmermann & Forshay in attempting in June of last year
to close out their contracts with various firms in United
Railways of San Francisco bonds, then dealt in on the curb "if,
when and as issued." With reference to the suspension,
limmermann & For&hay have made the following statement:

three

members

of the firm of

in the Montreal Stock
for a consideration of

This represents a decline of |13,O0O from the highrecord price of $37,500.

Sold at tbe Stock ExohanKe.

*

It is reported that a membership
Exchange was transferred this week

Vol. Lxxvii.

$15,500.

Sept 1903 - 100
Sept 1903— 242
Apr. 1903- 824
Oct 1903— 140

.

—

I

Zimmermann

—The New York bankers and their friends who will attend the convention of the American Bankers' Association
next week at San Francisco started for the Coast on Tuesday. Hon. Ellis H. Robert?, Treasurer of the United States,
and Hon. William B. Ridgely, Comptroller of the Currency,
are in the party, which numbers altogether one hundred and
twenty-two persons. Arrangements for the trip were made
by Mr. Charles Elliot Warren, who is Cashier of the Lincoln
National Bank of this city and Secretary and Treasurer of
Group VIII. of the New York State Bankers' Association.
—The fiftieth anniversary of the opening of the New York
Clearing House Association, which took place on October 11
1858, was the occasion on Monday for a few words to the employees by Manager William Sherer as to the Association's
history.
The Association's organization was started on
Augubt 27 1853, as was noted in these columns on August 29.
During its fifty years of life ihe Clearing House has had
nineteen Presidents, three managers and five assistant managers.

—The Chelsea Exchange Bank at 259 West 34th Street contemplates in the near future the erection of a new banking
house on the southwest corner of 85th Street and Eighth
Avenue. The upper four stories of the building will provide
modern offloe accommodations, the bank occupying attract.ye and commodious quarters on the ground floor. Safe deposit vaults are to be installed in the basement. The Chelsea
Exchange commenced business on April 80th last with $100,000 capital and $30,000 surplus. Irving M. Shaw is President,
H. H. Tyson and P. A. Qeoghegan, Vice-Presidents
A. B.
Stilger, Cashier and W. [B, Austin, Assistant Cashier, the
last named having been appointed on the 1st inst.
;

There 1b a dlSerenoe of opinion between as and certain parties with
—"The Banking Laws of the State of New York Relating
-whom we had contracts for delivery to as of 'Frisco Street Ry. bonds. to Savings Banks," is the title of
a pamphlet issued with the
These differences are the snbjeot of lawsalts which the courts will
bave to decide. The Governors of the Stock Exchange, on oomplalut Of oompliments of the Bowery Savings Bank of this city.
the same parties with whom we are in litigation, took action In the
—Mr. James S. Fearon was at a recent meeting 'of the
matter adversely to as. As there Is no appeal from the action of the board of directors unanimously elected a Vice-President and
Qovemors, the final determination of the controversy will have to be
Director of the International Banking Corporation of this
decided between the parties by the courts in which litlgatioss are now
Mr. Fearon has represented the corporation in
city.
pending."
since 1901, when a branch was first established
Shanghai
It is reported that a membership in the New York
Comthere. As the senior partner of Messrs. Fearon, Daniel
Stock Exchange was transferred on Thursday of this week,
Fearon
thirty-four
has resided in China for
years.
pany Mr.
for a consideration of |51,000i
He was appointed a delegate by the United States on the
—The Equitable Trust Company of New York will occuf y Commission of Bankers under the Pekin protocol vested with
the buildiDg lately vacated by the Western National Bank
the details and settlement of the Chinese indemnity. The
of the United States in New York on or before November 15.
International Banking Corporation has lately opened a branch
The removal to more commodious quarters has been necessiat Washington, D. C.
tated by the large increase in business now enjoyed by this
—Six directors of the National Suffolk Bank of Boston,
institution.
now consolidated with the Second National Bank of Boston,
The announcement of the suspension of Mr. John C. Kil
have been elected to the board cf the last named bank, to
breth, of the recently dissolved firm of Messrs. Kilbreth
serve until January 1. They are Messrs. Augustus P. Loring,
Farr of this city, was made on the Stock Exchange on WedEdward Lovering, Robert Winsor, James M. Prendergast,
nesday. The firm was organized in 1894, and consisted of
Henry B. Day and Ezra H. Baker.
Mr. Kilbreth and Mr. T. H. P. Farr. The failure does not
—At the annual meeting a week ago, the stockholders of the
affect the latter, however, it is stated owing to the disband
Trust Company of Philadelphia elected two new memUnion
ing of the parlLerehip some time since.
bers to the board, namely, Mr. ICharles B. Adamson and
—In its "Trast Companies of the Uaited States" the
Horace T. Potts.
United States Mortgage
Trust Company of this city has
—Mr. George W. Kendrick Jr., it is announced, has reissued one of the m3st comprehensive pablications devoted
sJgned as Vice-Preeident of the Union Surety Ss Guaranty
to data concerning trust companies ever compiled. Facts
Company of Philadelphia.
regarding every company in the United States, with a
The Bank of British North America, to the opening of
few exceptions ^where it has baen impossible to obtain
whose sub- branch at Levis, P. Q., we referred last week,
authoritative information,
are given,
the statements
has established a branch at Reston, Man. This latter is under
in nearly all instances being of date Jane 80 1903.
the temporary management of Mr. S. A. Burpe.
Besides the various
items
in
assets
and liabilities,
—With the final payment of 20 per cent, made on the 1st
other useful facts are furnished, such as the date when busicapital of $3,000,000 of the Safe Deposit
ness began, the bid and asked quotations for stock, the an- inst., the new
nual dividend rate for 1902 and semi annual rate for 1903, Trust Company of Pittsburgh went into effect on that date.
trust company has completed the exthe New York correspondents of companies outside of this With its new etook, the
with
the
People's National Bank of Pittsstock
of
change
city, ani the names of the officers and directors.
The book
for
of
share
share.
basis
on
a
burgh
is of convenient size and is
)st attractive in appearance,

—

&

—

&

&

—

&

m

having a dark green cover with gilt lettering, and being
printed on white glazed paper, A copy of the publication
has been sent to every institution whose report appears
therein. Additional copies may be obtained through the
Metropolitan Advertising Company, the distributing agents,
at 6 Wall Street, this city, the charge per copy being $3.00

^The final payment

on the new stock of another Pitts-

Company, also
The increase in this case was
became due on the 1st inst.
voted last D^cembar and brings the capital up from
The shares were sold at $400 each,
$1,030,000 to $3,000,000.
payments being in ten monthly instalments.
burgh

institution, the

Fidelity Titled Tiust

Oct.

THE CHRONICLE.

17, 1903.^

— At the
Ck)Ionial

meeting on Wednesday fie stockholders of the
Trnst Company of Pittsbnrgh ratified the inoreaee

from $4,000,000

in the capital
is

,to $8,800,000.

The new

issue

for the purpose of acquiring the stosk of the Farmers' De-

posit National

Bink

of

Pittsbnrgh, as has been previously

mentioned in these columus.
—Efforts to reorganize the D jylestown Natfoaai Bank of
DoylestowD, Pa., have proved succeesful. Upon receipt of aflvices that the stockholders had met tha assessment of §320,000 and compile i with the other conditions, the Comptroller
authorized the bank to resume, and the reopening occurred
on Thurgday of this week. The bank suspended less than
three months ago—on July 30,

—Mr. C. D. Bavington has entered upon the duties of his
new office of Secretary of the North American Savings Company of Pittsburgh, to which he was recently elected. Mr.
Bevington was previously Assistant Cashier of the Columbia
National Bank of Pittsburgh. Mr. Walter P. Fraser, who
had heretofore been performing the duties eatailed In the
dull offices of Secretary and Treasurer of the North American
Savings Company, will remain as Treasurer the division
having been made to relieve him of soma of the work, which
had become too heavy for one man to handle.

—

—The

purchase at $190 per share of a large block of stock
Trust Company of Pittsburgh by the
Knickerbocker Trust Company of this city was reported a few
week s ago. In an item in these columns on August 8 we stated
that the New York institution had concluded arrangements
to purchase some of the stock held under option by
Theophilus SprouU, P/esident of the Pittsburgh company.
Other new interests in the Etjuitable Trust, which is to
in the Equitable

increase

its capital

Whitney and

from $750,000

to $1,500,000, are

F. L. Stephenson, of

Whitney

Qdorge

& Stephenson

I.

of

1203

Treasurer J. W. Sefton Manufacturing Company; George A.
Morris, President Brown Brothers Manufacturing Company;
F. A. Hscht, President Kaeatner & Co.; Charles G. Diwes,
President Central Trast Company of Illinois; John I. Marshall, President Middleby Oven Manufacturing Company;
Alexander H, Rivell, President Alexander H. Revell & Co.;
3. K. Martin Jr.; Graeme Stewart, W. M. Hoyt &Co.;C.
H. Gaist. President H»mmond Illuminating Company; Laurence C. Woodworth and Edwin F. Brown. The directors choae
Presiient, Elwlri P. Brown; Vioethe following offi ;ers:
PresiJent, Samuel K. Mirtln Jr
Cashier, Laurence WoodMr.
Brown
has
been
worth.
President of Brown Brothers
Manufacturing; Company for the past twelve years. From
1896 to 1903 he was a natioaal biak examiner.
The location
of the Manufacturers' Bjnk is at the corner of Jackson
Boulevard and South Clinton Street.
;

—The

stockholders of the Divenport Nat'onal Biuk of
filed a petition asking for th? appointfor
the bank, charging mismanagement
ment of a receiver
of its affairs by thg officers. In the latter part of 1901 the institution decided to go into voluntary liquidation and the
assets were purchased by the Union Savings Bank of

Divenport, Iowa, have

Davenport.

—The election of officers of the Wisconsin Trust & Security
Company of Milwaukee occurred on the 7th inst, and Mr
Oliver C. Fuller, as was expected, was chosen as its first
President.
The other officials are Vice-President and
Treasurer, Mr. Frederick Kosten, of the Wisconsin National
Bank; Secretary Gardner P. Stickney, and Chairmiu of the

A

board, L. J. Petit.
call has been made for the payment on
November 2 of $60 on each share of stock. The capital
of the new institution, which it is believed will begin abont
the 1st of the year, is $500,000.

Pittsbnrgh.

—The bankers of South Carolina m^tin Columbia, S. C,
on the 6ch and 7th inst. for th3ir annual session. About one
hundred delegates attended the convention. Governor D,
C. Heyward delivered the address of welcome.
This, the
address of welcome by Mayor F. Sumter Earle and the
Through the purchase of stock, the Reserve Trust Com- various reports, constituted the first day's program. In the
pany of Cleveland has absorbed the Genesee Savings & second day's proceedings there was an address by Mr.
Banking Company of Cleveland. The latter maintained two William A. Lamson, National Bank Examiner; a paper by
branches, which will be continued by the Reserve Trust Mr. B. H. Moss, President of the E listo Savings Bank of
under the management of Mr. Paul D. Jone?, who has been ap- Orangeburg, S. C, and a digcussion of "Points of Interest to
pointed Assistant Secretary and Treasurer of the Trust Com
Local B inkers," opened by Mr. W. J. Roidy, Presidant of
pany. The bank had a capital of $50,000. with deposits of the National Union Bank of Rock Hill, S. C. The Associabout $150,000. The capital of the Trust Company is $300,- ation's new President is Mr. E iwiu W. Robertson, President
It opened on September 1, having taken over the Eiet of the National Loan & Exchange Bink of Coluoabia, S, C.
000.
Cleveland Savings & Loan Company and the Savings, Build- The Vice-President is Mr. B, F. Mauldin, Cashier of the
Bank of Anderson at Aniers )n, S. C. The Secretary and
ing & Loan Company.
Treasurer,
Mr. Joseph Norwood, Assistant Cashier of the
The Eiclid Avenue Trust Company of Cleveland was in-

—The

proposed consolidation of the Security Trust Company and the Home Sivings Bank of Toledo, which has been
pending for nearly a year, has baen abando lei— at least for
the present.

—

—

corporated on the Ist Inst with $500,000 capital. The new
institution, as has been previously statad herein, is to purchase the s'ook and take hold of the old business of the
Euclid Avenue Trust & Sivings Company, which suspended
in January 1902.
It is expected that Mr. W. H. Crafts of
Mantua, Ohio, will be Pi-esident of the new company and
that Mr. R. S. Thomas of Qlenville, Oaio, will be its Secretary.

—

Bank of Greenville, was re elected.
American National Bank of Richmond, Va., has
Issaed the additional $100,000 stock authorizjd by the stockholders several months ago. The new issue was sold at $125
per share and increases the capital from $500,000 to $490,000.
City National

—The

—The Bink of Orleans, with $103,000 capital, will begin
business in New Orleans about Jan. 1 1904, with the following excellent list of officers and directors. Officers: Peter

It is announced that the Southwestern Olio Trust Com
Hellwege, President; Eigene H. Roberts, Vice-President;
pany contemplates abandoning its office at Dayton, Ohio. L3on Villere, Cashier; Jos, A. Granbsry, Assistant Caihier.
The company was projected in the spring, and although an Directors: Ch^s Marshall, President Pontchartraln RR. and
office was opened a month or two ago in ID tyton, its organSupt. L. & N. RR
C. A. Pardue, General Agent Southern
ization was never perfected.
The proposed capital was and Pacific Express companies; Chas. Dittmann, Coffee
$200,000. Two-thirds of the subscriptians, it is stated, came Commission Merchant, Vioe-Cousul of Brazil, Agent for
from the East, and in view of the present condition of the Arbathnot, Latham & Co., Bankers, London; Cartwright
money market it is considered unwise to attempt to carry on Eustis, Manager Gsrmania Life Insurance Co. of New York;
bueiness in Ohio on such a large perc3ntage of foreign Alfred Le Blanc, Agent Harrison Steamship Line, Liverpool,
capital.
Eag.; H. S. Weston, Vice-President H. Weston Lumber Co.,
Bdward C. CromwiU, for several years with the muni- Logtown, Miss,; Jules Mizerat, Cotton Broker; Peter Hellcipal bond house of Dake M. Farson & Co., Chicago, and for wege, of Peter Hellwege & Co., brokers, cotton, stocks and
the last two years its Secretary and Treasurer, has accepted bonds; Eugene H. Roberts, Vice-President Hancock County
the position of Assistant Manager of the bond department of Bank, Bay St. Louis, Miss. The location of the new bank
the Royal Trust Company, Chicago.
will be directly opposite the Cotton Exchange.
Previous
N. W. Halsey «& Company have opened their new Chicago mention was made of the institution in our issue of Aug. 39.
;

—

—

offices

in Nos.

868 and 670

The Rookery, with Mr, H.

L.

—

J H, Ingwersen, late Vicj-Prejident of the later-State
Trust & Banking Company of New Orleans, aid formerly
—The newly incorporated Illinois State bank, the Manu- Cashier of the People's Trust & [Savings Bank of Clinton,
faoturers' Bank of Caicago, with a capital of ^200,000, has Iowa, has formed a connection with the Corn Exchange Nae'ected the following boar! of directors: J. E. Clenny
tional Bank of Chicago to look after its country bisiness.
Stuart in charge as Manager.

THE CHRONICLE.

1204

—An attachment for $1,237 in favor of the Fourth National
the Beaamont

[Vol. Lxxvn.

We

subjoin the totals for merchandise, gold and
silver for the nine months since Jan. 1 for six

was recently filed against
The amonnt repreeenta three months' rent of the years.
offices occupied by the concern at 22 Pine Street, which have
MIROHANDISI.
been closed and are now for rent. Besides the Beaumont
JVine
offices, the company has branches in Chicago and London.
Excest
BxvorU. Importt.
of
Bxvortt
— The announcement is again made that Dallas, Texas, is

Bank

of this ci ty

Tmst

Co.

new bank,

bearing the title of the Texas National
Bank. Just a year ago the Comptroller approved an applioatioa to organize an institution of this name, with a capital
of $"250,000. The application now presented to the Comptrol-

to have a

Inst, gives a similar amount of
the names of the incorporators are entirely
different from those appearing in the former application.
Mr. J. "W. Blake of Sherman, according to local papers,

ler

and approved on the 2d

%

%

1903. 989.86«
1904. 943,161
1901- 1,046,819
1900. 1,031.961
1899. 904,177
18 OS. S08,27r

•

Bx-

Im-

vortt.

port*.

%

1

738,830 430SS1 41.637 31,641
7 04,14»

8ILVMR.

GOI.D.

441012 30,999 ^4,906

Bxcett
Exof
Importt port*.

Importt.

Bxeett
of Bxvortt.

i"

»
»
t
9,806 44.908 16.601 8,807
O.090 ,'{3.680 18 704 16,876
4.719 41,488 44.491 18 997
14.61(1 47 601 30.270 17,831

040,478 399^11 34.681 33.100
044,467 407497 54.606 39.989
383.908 310675 34.878 34,869
1 ,391 38.788 44.721 16.014
475.879 3938<'t- 14.782 127,841 •111,888 3)*,48S 41.099 18.884

capital, but

the arrangements in the present instance,
W. C. Padgitt, Charles Meisterhane,
D. £. Grove, S. G. Davis, A. P. Wozencraft, A, C, Wilson
and Wirt Davis. Mr. Padgitt will very likely, It is stated,
be given the Presidency, while Mr. Blake will become VicePresident. It is believed that the bank will be in position to

has perfected

*

Kzcets of Imports.

Similar totals for the three
six years

his associates being

open by November

15.

—A sale or

stock of the Oklahoma Trust & Banking Co.
Oklahoma City is reported. President John Threadgill
and C. F. Colcord have purchased the holdings of Vice

of

L. Wilkin for a consideration

President E. H. Cooke and J,
The company has a capital of |200,000.

of $50,000,

—Mr. Stephen C, M. Appley has replaced Mr. William
Eraser as Assistant Cashier of the Lumbermen's National

Bank

of

Tacoma, Wash.

—Mr. John Clay

Jr.

make

months since July

1 for

the following exhibit.
SOLD

Mbbohandibb.

SiLyiB.

Thru
Hot.

Bxvortt. Imvortt.

Bxctti

Bxettt
of

Bxvortt VorU.
%

t

t

1903. 491,612
1904. 304.9(^5
1901. 3^4.469
ieoo. 319,931

446.185
4*3.807
413.036
185,050
i899 309.49W 197.46S
1898. i 4 7.736 149,113
*

%

vortt. Bxvorta

%

Bx-

Mxctm
Im- of
MXm

vortt.

port*.

vortt.

\
7,402

%

1
783
6.588
3,697
3,710
3,380

%

43,427 10,801 17,666 7.461
6.619
•999 13.052 6,484
39.168 10,72U 11.719
111430 3.190 19,472 •16,281! 13,153 7,869
134881 44.165 183,363 •1,198 17,131 11,421
114001 5.324 1 Qfi^O •3.56« 11,618 8 288
98,618 tf.5Se 34,749 •48.192 14,885 8.206

In these tables of totals, gold and silver in ore for
all the years are given under the heads respectively of
gold and silver.

The following shows the merabandise balance

has been elected President of the

Stock Growers' National Bank of Cheyenne, Wyo., to succeed Henry Q. Hay, who resigns to accept the position of
Assistant Treasurer of the United States Steel Corporation's
office in New York.

—The

Mercantile Trust Company of San Francisco removed to its new building at 464 California Street thLThe building has been under construction for
week.
over a year. It has been designed for the exclusive use
of the company, which is abundantly prepared In Ita enlarged quarters to meet the growing demands of Its business.
The company Is officered by Mr. Frederick W. Zelle, President; N. D. Rldeout and Henry T. Soott, Vice President s,
and John D. McKee, Cashier.
—On October lat the authorized capital of |3,000,000 of
the Bank of California at San Francisco became' full paid,
that being the date set for the payment on the new $1,000,000 stock voted by the stockholders on July 16.

—

—

Mr. John D. Blcknell has been elected to succeed Mr. W.
Q. Kerckhoff (resigned) as Vice-President of the First
National Bank of Los Angeles.

6,629

Bzoeia of impoTta.

for

each year back to 1876.
BX0B88 OF MBBOHANDISB IMPOBTB OB BXPOBT8.
3 montht ending Sept. 30—
8 months ending Sept. 31—
1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903

Imporie.*2'-',518.827

Exports. 27.170,679
Exports. 16,363,921
Exports. .^3, 673.024
Exports. 46,461,725
Exports. 42,63(5.426
Exports. 23,171,938
Imports. 14,786,237
Kxports. 2,047.010
Exports. 6.898,059
Imports. El2,36l,6fO
Imports. 11,618,110
Imports. 18,270,975
Imports. 2X,108,404
Imports. I3,56i,l21
Imports. .^5,372,172
Exports, 23,708,387
Imports, 18,221,322
Exports, 46,696,522
Exports. 4,ft42,162
Imports. 38,380,638
Exports. 69,017,161
Exports. 120,.%2 1,440
Exports. 98,618,430
Export8,112,001.348
Export6.134,881,714
Exports.l 11,430, 180
Exports. 59,157,820
Exports. 4^,426,420

1875
1876
1877
1878
1879
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1908

ImportB.$44. 311,039
Experts. 77,734,462
Exports. 54,260,884
Exports.209, 527,659
Exports.l 61,498,336
Exports, 73.798,930
Exports.121,171,904
Imports. 54,222,267
Exports. 48,130,029
Exports, 17.653.894
Exports 42,952,033
Imports. 12,591,848
Imports. 45,361.052
Imports. 89.683 704
Imports, 44,216,877
Imports. 54,093,685
Exports. 10,446.816
Exports. 29,204,090
Imports. 22,103,499
Kxports. 73,028,234
Importe). 43.115,673
Export8.143,973,601
ExportB.l&7,483.339
Exports,393,899,189
ExportS.Sl 6,675,102
ExportB.407,496,805
Exports.899,841,698
ExportB.a41,011,841
Exporta.230.333.820

IMPORTS AND EXPORTS FOR SEPTEMBER.
The Bureau

of Statistics at

Washington has issued

IFrom oax own oorrespondent.J

the statement of the country's foreign trade for
September, and from it and from previous statemente
we have prepared the following interesting sum-

London, Saturday, October 8, 1908.
The week began with great gloom. Ramors of all kinds
circulated throughout the city and an inexplicable feeliug of
despondency spread over the Stock Exchange. Consols fell
maries.
to lowest point yet quoted, and almost every other stock
FOaBIOM XBADB fiXOVBMBNT OF THB UMITBD BTA.TBB,
dealt in upon the Stock Exchange dropped likewise. The
finth* foUowlnK tablet three olptaari (OOOi) are in alloaiei omitted.]
1903.
selling, however, was not very great. It was understood that
1903.
Bxvortt.
ImvorU.
Bxeeu,
Exporti.
Importt.
Bxcett.
there was a good deal of offering of Consols, but it is said
I
nereh'dlee. %
%
%
t
t
'404.038 -|-I'.i7,644
/an.-Marcb. 391,<)72
337.4M 431.716+103.748 that there was not much sold, partly because the gloom
Apm-Jnne. 303.980 !i48,717 -1-37,263
300.738 i>-J4.0Z6 +70 106 was so great that there were no buyers, and partly because
-1-9.643
91.884
79.148
July
-t-9.646
88,791
8-X188
the work of dealers
fall in quotations [was much more
-(-7,396
89.446
84,050
94,948
78.823 -t-1 0,019
Aocmat
overwhelmed
by
stock
than
of actual sellers.
being
afraid
of
S«pt«mb«r. 110,338
81,947 -f48,385
141,282
87.786 -(-33.496
Exchange
failures
occurred
in Scotland,
small
Stock
Two
TotaL
989,264 738,930 -J-a30,334
943X^1 "704049+4411012
contributed
materially
really
very
to
the alarm
that
they
but
C>«ld and Gold In Ore.
-3,762
Jan.-Maroti.
4,681
8.396
13.078
+9.8&t which spread through the city seems diflacult to believe.
3.739
3.B80 +43.182
— 4,t4& The liabilities of one of the persons referred to was only
pni-Jane.
48,702
3.808
7,448
Jal7
9.118
4.081
7.881
+4.487
1.994
+0,290
It is possible, of course, that the liquidation on his
—7,764
AURnat
86
7,819
4,809
—4,838 £15,000.
3,144
.

September.

ToUl

.

,

3.186

—4,187

580

4.981

—4,461

account

41.637

31.641

+9,896

30,999

44.906

+6,090

But the

4.669
3.333
4.663
4.869

+0.688
+1.003
+461
—349

11.762
10.770

6.480
3.800

4478

1,687

-HSSl

3,678
4,746
4,666

1,807
4,899

+4,976
+1,391
+4,938
+4.236

33,680
+S,307
Hzoeii of importi.

18,704

+16,876

Sliver and Silver In Ore.
Jan.-Mareb.

11,181

AprU-Jane.

6.829
3.014
4,020
4,868

Jalr
AoffTUt

September,

involved much larger selling than appears.
seems to be that for some unexplained
reason members of the Scotch as well as of the London
Stock Exchange took it into their heads that there were to be
very great failures, and consequently an almost panicky feeling sprung up.
A more important failure occurred in the shipping trade,
due to unwise speculation on the Stock Exchange by the

998

TotaU.. ..
44,908
^ azceisof export!.

16,601

—

+3,8342

may have

real truth

:

Oct.

the execators of a very large
decedent estate ordered the sale of secarities amoanting to
nearly half a million sterling, and nnfortanately the salea
partners.

Also,

it

is

said,

:

.

THE CHRONICLE.

17, 1903.]

1-205

ceived credence.

now, however, believed that the Rusit would be unwise to do so; that
it would probably comcel the Bank of England to raise its
rate of discount, and that that would have a very bad effect
upon all the money markets and bourses of Europe. The
impression now is that no mora gold will be taken by the
Russian Government during the present year.
It is

Government

sian

sees that

came when the Stock Exchange was in the deepest gloom.
Consequently membtrs Bssnmed that nobody would sell at
snch a time who was not forced to du so, and the sales being
The India Council continues to sell its drafts well. It
large it was concluded that the persona in difificulty must
offered for tender on Wednesday 50 lacs, and the applications
be very important. All through Monday and the early part exceeded 285 lacs at prices ranging from Is. 4d. tola.
4 l-16d.
of Tuesday this state of things lasted. But there was a per rupee. Applicants for telegraphic transfers at Is. 4 l-18d.
change in the afternoon on Tuesday and a decided recovery
on Wednesday. On Thursday morning there was again some
weakness, but it was followed by another Improvement, and
the recovery of the previous day was maintained.
So far as can be ascertained, there appears to have
been no real ground for the alarm that existed.
That
there is a large "bull " account in Consols is unquestionable.
Everybody knows that the unwise way in which money was
borrowed during the war led to allotments to persons who
were unable to pay for what they subscribed for. Everybody
knows, moreover, that since the war ended there has been
very considerable speculation in Console. But there does
not appear any ground for believing that the speculation is
such as to lead to serious diflaoulties. For the most part the
operators were wealthy people who had plenty of security
for what they borrowed, and, as far as can be discovered,
the banks are quite aware of this, and are not pressing their
customers. The general impression, indeed, in banking
circles is that the alarm at the beginiiing of the week was
grossly exaggerated, and that if something untoward does
not happen abroad there will be a gradual improvement.
It is not thought likely, however, that there will be much
rifle in Consols, for there are three monthly instalments of
i}4 millions sterliiig each yet to be paid on the Transvaal
loan, and the raising of the money will make it improbable
that there will be any great improvement in Consols. At
the beginning of the new year, however, the best jadgaslook
for a decided improvement, for in the quarter ended with
March next the Government ought to be able to pay off 10 or
12 millions stei ling of Treasury bills now running, and it is
generally understood, moreover, that the 10 millions sterling
of the new Transvaal loan which has been underwritten by
the great South African mine owners will be raised early in
the new year, and thus will enable the Government to pay
off another 10 millions of short-dated paper.
Outside of the market for consol?, there is no "bull" ao
count worth speabiog of. Especially in the mining [department the speculation is now exceedingly small, and there is
a much more hopeful feeling amongst all those who are interested in South Africa. The Labor Commission has completed the taking of evidence. Its report is expected to be
issued some time during the current month, and the report,
it is understood, will be submitted to the Legislature early
in

November.

Money was

in strong demand during the first half of the
week, both for the Stock Exchange settlement, which ended
on Wednesday, and for the end of the month and the quarter.
The Bank of England consequently did a large business
in loans at 4)^ per cent. The Impression is very general now
that there will not be after all a further rise in the Bank rate.
It is certam that the directors of the Bank of England desire
to avoid putting up the rate if they possibly can. In the
present state of the public mind an advance would be taken
to mean that there was danger somewhere and therefore
might renew alarm.
Over and above thiSj the Bank of
France has allowed a good deal of gold to be sent to Germany, Italy and Egypt. The Bank of France can prevent
gold withdrawals when it pleases, but it recognizes that if
much gold were now to be taken from the Bank of Eagland,
that institution would have to raise its rate to 5 per cent. If
it did so, the Imperial Bank of Germany would in all probability do the same.
Then the Bank of England would fear
other withdrawals of gold and might be induced to raise its
rate further. In consequence the Bank of France has come
to the assistance of the London money market, and has greatly
improved the outlook. The Bank of France is so enormously
strong that it could aflford to part with a great deal of gold
without any adverse consequences to itself, the more especially as it is certain that early in the new year whatever gold
It parts with now will be returned to it.
It was feared, moreover, that the Imperial Bank of Germany would advance Its rate to either
or 5 p^r cent, for
it was known that the demand for banking accommodation
would be very large at the end of Sfptember. The Bank
however, has been able to avoid advancing the rate, and the
best information from Berlin is that the Governor will refrain from doing anything that would increase the apprehensive feeling which exists.
Another cause for uneasiness in the money market was the
report that the Russian Government intended to withdraw a
considerable amount of gold. It is known that the Russian
Government has large balances to its credit in Paris, Lon-

4^

don, Berlin and Amsterdam, and the

rumor

therefore re-

and for

bills at Is. 4 l-82d. per rupee were allotted about 23
per cent of the amounts applied for. Later in the day the
Coancil sold a small amount of bills by special contract [at
is. 4 116d. per rapee.
The following return shows the position of the Bank of
'Gnglandithe Bank rate of discount, the price of consols, Art
wmpared with the last three years :
1903.

1901.

IBOO

Oct. I.

Oct. 2.

Oct. 3.

leOS.
Sept. 30

M
IlrnlBtiOn..

S9.13P,850
S,^15 520
4$.4iH,lu7

PabllOdapOlltt
)tker depoiltl

}OT«rnmenifeoarltiei

iti,kO(i.06i5

)th«rieoarltl«i.„

80 4b3,7M

iiMarraof noteiandootn
va,H;i!0,i40
JolilAbaiUon,botbdepartm'ti. il8t'OK390
Prop.reierra. ollabllltlei.p.a.
44
lank rata
4
pereant..
888>lfl
Mnaoli. 2M par oant
lUrar
I77-I6d.

ilaanns-noni* rataroa
•

September

a

S

M

)!0,401.1H&
10.U2C>,V7»

S0.>'40,875
10.874, ft»L

30,627,720
312,091

J2.606.5 •)
)C,b^e,(80
81.837. H-<

41 £U4 12V
1^,022 los

43F71,917
io&6i,750

a7.15H,4<(>
s6.3»-r>7(g

S9.ei7,»07
^2,818,682

£8.167 624
18>h
»

t'4,97I,tl02

k3.Hie,229
86,842 414
44^g
4

983-16
8*Md.

198,e43.']03

220Ji78.uuo

44M
4

986-ie

«(%

M%il.

29>^d
199,eoi.uOO

2l7.4u*,u00

3.

The rates for money have been as follows:
Intereet allove*
for depotitt by

Open Market Ratet
(jtnSon.

Jrade SilU.

Bank 3iU».

^oint Bii'tH'l.
Stock At

Monthi.

a

Sept.
••

Oct.

Month*

a Montlit.

3 5-16(38^

4

8

11

"
"

4

4

26
8

8^'<»4

3%@3 15-16
04

iM®m

i\4@i 3-16

OA®iH 4H®43i

04®* 3-16
4

7-14

Ooli

C«»i

2«

iH

2>4

2«
ax

3)i

13-ie@S}i\3H&3 16-ie

18

SMoi. iMot. Banki
2J6

2>«

2H
2«

4

•iH

2H

The Bank rate of discount and open market rates at the
Continental cities have been as follows:

]hief

October 8.

September 26

Septemter 12.

September

5.

Rate* of
Interest at

Bank

Oven

Rate. Marker
Parli
3eriln

8

Sambartt
frankfort

4
4

vmtterdam

3H

^raiiels

4

Vienna

8«
4«
Hi

St.

Bank

~3

4

Petersbarg..

Madrid

Cooenhaeen.

Messrs. Piiley
Oct. 1

Bank

3%
3%
3H
SH
3«
nom

8«

2H
3H

3
4

4

4

m

4

3H

4

4

3»
4
iii

non
SH
*H

3H

3 5-16

3H

3

2M
3H
nom.
SH
iH

8

9H
iH
4

HH
3H
SH
3H
3M
iH

3

4

SH
SH
3H

Oven

Rate. Mark*

4

iH

&

Bank

i

an

4«

Oven

Rate. Marker

4

*}4

..

Oven

Rate. Market

SH
iH

8 8-13

nom.

4

8i^

iH

iH

Abell write as follows under date of

Qold— The Bank has bought part of the creek's arrivals, and It is reported that farther amounts have been secured. The Continent Is
still a buyer.
Daring the week the Bank haa lost £250,000, of which
£200,000 has gone to Egypt, and £79,000 has been reoplved of which
£77,000 i«in bars. Arrival?: South Africa, £559,000; West Indies,
£37,000; New Zealand, £14,000; V«ra Ornz, A3.000; Australia, £19,000; total. £622,000. Shipoient: Bombav. £40,000.
Silver— Under pressure of sales of Mexican dollars from Mexico the
market weakened from 27 Bifid, to 2738d. At this price there were renewed demands for oiBh silver and the market closes steady at 27ifld.
Forward sliver is also Inquired for and Is at present quoted ^i under
cash. The nearest IndUn price is Rs. 70 per 100 tolahs. Arrivals:
New York, £111,000; West Indies. £5.000; Australia, £6,000; total,
£122,000. Shipments: Bombay, £39,0C0; Colombo, £5,000; Calcutta,
£10.000; total. £54,000.
Mexican Dollars Oon«iderable salea were made by Mexico on the
2Kth, but the price has since given way. and at to day's rate of 265ie'l.
Mexico is not such a keen seller.

The following shows the imports of cereal produce Into
the Jnlted Kingdom during the four weeks of
season compared with previous seasons

1903
Cmif'tB of

iMuy
"eaa

wheat, owt. 7,610,709
4,257,161
972,467
326,599
265,408
8,076,008
1,530,683

...... ......

ieanB....

,

ndian corn ....
'lour

Supplies available
jn

UIFOBTS.
190S.

September

f or

7.186,964
3,162,830
1.476.639
150,629
258,578
2,594,994
1,640,033

the

new

1901.

1900.

4.763.100
2,640,800
1,552,100
138,900
801,500
3,694,700
1,395,000

6,373.200
1,408.500
1,951,800
114,210
188,500
4,044.800
1,499,800

oonsumptlon (ezolusive of stocks

1):

1903
^heatlmported.owt. 7,610,709
mporta of flour
1.530.688
iHeaof home-grown. 1,834.355
Total
10,475,752
,
».ver.prloewheat,week.378. 01.

Average prlo«. 8e»aon.S9B, 01.

1902.
7,186.964
1,540,033
1,227,920

1901
4,763,100
1,395,C00
2.968,289

9.954,917

9.126,389

269. 64.
278. 91.

258. lOd.
263. Id

The following shows the quantities of wheat,
nalze afloat to the United Kingdom:
TAittseeA.
*lie»t
qra... 1,510,000
rionr, equal to qra... 355,000
iCalie
Qra. . .1,240,000

Lattwetlt.
1,465,000
345,000
1 ,330.000

1900.
6,273.200
1,499,800
1,764,705
9.527,705
288.
28b.

flour

40.
6(}.

and

1902.

1901.

1,590,000
355,000

1.805,000

640.000

295,000
685,000

«

"

..

—
^:

)

1

THE CHRONICLE.

1206

[Vol. lxxvii.

BacllaM FlnsBClal mrlcata— Far Omkl*.

Tbbasury Currbnoy Holdinos.—The following compilaThe dallj closing quotatloni foraeoorltles, etc., at London tion, based on official Government statements, indicates the
are reported by oable as follows for the week ending Oct. 16: currency holdings of the Treasury on the Ist of July,
LOKDOH.

Mon.

8aU

Thura.

Wed,

Tues,

August, September and October, 1903. Statement for eorresponding dates in 1902 loill be found in Chronicle of Oct. 4i

FrL

1902,

8818
28ifl
27iBig 281,6
UTer, per oanoe
d.
27 »8
888g
8888
OoiiMlB.,seir,8% p.eto. 88ilte 883ia
88
881s
88iiif 8888
88>4
For aoooont
88 \
88-7jfl
88»i«
Vr'ob reiit«s(liiParlB) £r. 97 05 96-75 96-77 1« 96-80 96-821S 98-87ia

V

Bkoonda Mining
Atoll. Top. A Sane* Fe..
Pr«l erred. .............
Baltimore <k Ohio
Preferred
.........

338

3i«

314

66

65 's
901s
7588

121ifl

901s
75»8
89i«
123 18

661s
901s
7514
89>s
122

30

80

6578
901a
751s
891s
121
3OI4
15
1391s

3%

333

65 1«

90 1«

64
90

7638

7488

89

89

Canadian Paolflo

1221a
S014
Ohloa. Qreat Western.. I5i«
CnUe. Mil. A 8t. Paul... 139%
Den.
Rio Or., com.... 19>fl
Do
do Preferred. 68
rle, eommon
>.^ S8
let preferred
67 k
Sd preferred
49
nilnolR Central
132>s

GheaapeakeA OUo.

•pAtinnylyRTitft

*Phlla. * Bead
•Phlla. <h Read. ,1 Bt pref
*Phila.
Read. 2 d pref.
Bonthem Paolflo

A

,

Bonth'n Railway, oom..
Preferred..^,

.....

Union

Paolflo...........
Preferred..............
V. 8. Steel Corp., oom.

19>a

I914

68
37

68

13m

49 >4
132
100 Is
11

99%

11

11

le^
36

17i«
341s

38
1191s

391s
1201s

15
19''8

69
28
68
49

17
35

408,717,484 471,061,4P3 477,090,382 482 997,269
9S,9:iO,081
84,389,148 98,760,039 93,689,67

9o1d reserve fund..

384,894,876 878,291,444 883,450,711 889.417,184
160,000,000 150,000,000 160,000,000 150,000.000

Available cash balance
*

86\
604

2014

20%

58
90
86

58
90

20%

58I4

861s
601s

60i«

871s
601s
23>s

38%

38
31

89
33

4088
1788
731s
711a

4138
17'8

i-Stoeh

78

In tke United

87

87

31

88
31

4II4
18B8

40S8

41ie

321s
4138

17l>8

17''6

17%

77

75>«
7014
86i<

78
72
87

731s

86ifl

15ie

14

13%

60

Stock op Money in Country.— The following table
shows the general stock of money in the country, as well as
the holdings by the Treasury, and the amount in circulation
on the dates given. The statement for Sept. 1, 1903, tcill be
found in the Chronicle of Sept. 26, 1903, page 747.

20%
8714

90

31

71B8

"Chiefly dlsburalnK offloers' balances."

861s
601s
2SI4

88%

23

391B
1191s

234,894,876 828,291,444 '833,460,711 839,417,184

90

22%
33%

23 >«

1191s
2038
581*

71''8

86%
1888
6014

18ifl

601^
18

301s

80

80

SSifl

541«

541s

17%

89
88
6OI4
2338

1338

131s

58%

f

Money

Oct. l.-s

f-Monevin OircuIat4on.->

1908.

^Held in
iTtaswrv.
$

State*.

71%

x58ia
18
80
641a

1908

Cash In banks, 8ub-trea8.,eto..
Oeduot current liabilities.*....

35

39

391s

120

1,

318,840,020 316,8«9,209 881,349.704 317,609,618
lBl.eiH,813 l&l,66i.ViUe 15a,»17.7T7 iei.778,886
8.488,901
8,609,867
3,268,091
4,01»,9T8

Cash In Philippine Islands

lOia
17

1908 S«pt.l,190S Oct.

1

Cash In Bab^Treasnries
Cashin national banks

100 14

Axtg.l,

8sa,ii9,95e 848,499,879 863,808,871 260,7 4,098
88.806,4iil 89,918,760 88,634,818 82,961,411
183,831
119.746
168.798
88,482
10,089,644 11.486.451 11,803 448 10,802,247
is,«ea,46i 16,948,987 19,203,0«6 16.620,837
9.438,780
8,990.876
T,968,2ed
9,411,809

1331a

lOis

171s
341s

juivLieot
Holding! in Snb-TrtaturittNetKOld coin and bullion
Net illTOrooln and bullion
Net U.S. Treasury notes
Net lesal-tendernotes
Net national bank notes
Net fractional silver

139%

19%

718.

TBRABUBT HBT HOLDINOS.

29%

68
27's
6788
481s
1321s
LOO

6714

133

98%

Do
do
pref.. 6319
Wabaeh
19
soil
Do preferred
Do Deb. "B"
66
*

16
140
19
68
28

289e
671s
481s

48

.
.

Seoniitles

I20is
801s

140

66>«

LonlBvUle & Nashville.. 100 >«
11
Mexican Central
Mo. Kan. <bTex.,oom.. 17
35
Preferred..............
19
Rational RR. of Mex.—
let preferred
38
Y. Oent'l A Hudson.. 120>«
T. Ontario A Weat'n 20)^
Vorfolk & Western
68
Do
do
pref. 90

89

14%

15
139

A

Vorthem

3»8

page

$
Gold coin (Incbnl'n In Trea8.)l,977,862,651 860,714.058

•Gold certificates
Standard silver dollars
Silver certificates

171s

666,886.930

81,406,881

102,82S,888
Subsidiary silver
17,498,000
Treasury notes of 1890
846,681,016
Dnlted States notes
•Curr'oy cert.. Act June 8, '78
420,486,686
National banknotes

30
54

Price per share.

Oct. 1.
190-^.

684,788,060
804,8t<2.064
76,(148,719

168.79a
10,302,247

468.628.2)0
94,867,102
17,835 ilOS
836.878,769

469.571.478
89.90S.205
26,741,790
848.980,086

16,520,887

404,006,098

362,888,269

•

7,96"8,268

8,720,680,660 310,063,481 8.404,617,069 8,276,686,061

Total

Commercial and "QXiscMmitons^cxos

Oct. 1,
1903.
t
088,660.934
89t.u97,6s9
76.959,483

Population of the United States Oct.

1,

1908, estimated at 80,881,000; olron-

latlon per capita, |29 75.

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.
From previous returns we obtain the figures for previous
months, and in that manner complete the statement for
the nine months of the calendar years 1903 and 1902. For
statement of Sept., 1902, see Chboniclb Oct. 4, 1902, page 713.

* For redemption of outstanding certificates an exact equlralent in amount
of the appropriate kinds of money Is held In the Treasury, and is not included
In the account of money held as assets of the Government.
t This statement of money held in the Treasury as assets of the Government does not Include deposits of public money In national bank depositaries to the credit of the Treasorer of the United States, and amountlnK to

1153.364.807 89.

DITIDENDS.
When

Per

Ifame of Company.

Cent Payable

Books Closed.
(Days Inclusive.)

BBCBIPTS and DISBUBSBMBNTS (000 omitted.
<oia«

X
<B

•»."-'-

si

lO'HSl

1

OC>33

1

en^

o»e-o

(CXO

t»

«

OX)
— 03

•*

3>

UOlO
OtPO

«

i»X19)'->

OQ

a

^a
a

lOlOX

xma
ulO«

lO

«[»•

X
^

at

l^-OJ*
01 ««

X
s
•

t-iJlO

ot

Ot —
— xt-

X

'WSOt
^*H-0

o»x»
io»o
.••0

iK^am
OSMOS

S

otot
aotx 00
ast-r~

^teocs

.-lOO

1

.lom
CO

9>

«

cox

oa«

:^

aD<Dt>

X

•y»

«
»
0»-H
—
o* 0
09
oisai

^

;^

axe*

<a

— aa
coax
— — a«

a>-<-.
A I^^OX
< ^ ...

xoos
x«t-

i

A

'•ODeo

M...
•

•

X
01

axx*-^ X

a>0(

—

xo-*

9
•

0«O50'

OtOI

<o

""

«
n
Ot

VCD ^«i coot
— as> ox

eo»c*^<H^

^

^1-1

aoc*D«c*i^

ioattoe>aoao

xc-o

OXWDOX
t*XOIO«tO
oto^xeook

xxio

lO

oo«9)C*eQ«o
a>C*io^cnt*

.-<

—

OkO>C*XO

OCD---*

aeio — oorJ
«
mafwcDot .^
»0tXO«!« OQ
.-•

ot
cc

eooc-a — x

•
••

oft^t^
r^

....

000

—

*

•

•
•

rerenne..

«
e
«

1908—

[nternalreyenae...

Mlioellaneoni

ao
c-ou
t-— AX
..^

oio»

ox
mio
_••—•

—

»•*
at-

Allls-Chalmers, pref. (quar.)

ct CD

American Light <& Traction,
Anaconda Copper

ot

aoi coo

—
»»
am f
«—
lOCD

«(•

:

a

«

3

Mlioellaneoni

-.J

10IIPT8

Oattomi Internal

£
t

5'

i

5S

jj2!

:

I

•

5

»gSB
—
hS
Ha
852
si^

:
.

:

...:

:
.

•
:
•

:

:

:

:

:

:
:

:
:

:
:

:
:

:

:-

:

:

•

.

o

,

mNov

,

1

I

a "a
4

I

Nov
Nov
Nov
Nov

l>»Nov

Internat.

«—
—

24 Nov

Nov
SHiNov

04

pref. (quar.)...

Oct

Pacific Coast, all classes (quar.)

1»4
II4

Pennsylvania Steel, pref
Pittsburgh Coal, pref. (qnar.)

1»4

Oct

ot

0«I^

—

do
do
do
Syracuse Lighting, com
Trenton Potteries, pref

ax
ox xo
00
09O -^A
XX K3^

«

(extra)...

Vulcan Detlnnlng. pref (qnar.)
Worthington (H. B), pref
.

*

3

I

Nov

Oct 22
Oct 24

to
to

Nov 3
Nov 10

Oct 9
Oot 15
to
Holders ot reo. Oot 20
Holders of reo. Oot 15
Holilers of rec. Oot 20
Holders of reo. Oct 20
Holders ot reo. Oct 17
Oct 23
to
Nov 1
Holders of reo. Oot 30
Oct 23
to
Nov a
Oct 26
Oct 23
Oct 16
Oot 18
Oct 24
Holders
Holders
Oct 21
Oct 36
Holders
Oot 21
Oct 16
Oct 16
Holders

to
to
to
to
to

Nov 2
Nov 8
Nov a

of reo,
of reo,

Oot 15
Oot 81

to
to
of reo,
to
to

to
of rec.

Oot 36

Nov

4

Nov
Nov
Oct
Oct
Oct
Oct
Oot

3

2
17

31
31

36
31

l>»Oct
2
Oct
2
a

IDeo

Oct

Not
ShINot
1

Holders of

Nov 11
Oot 21

rec.

to
to

Oot 19
Not 20

Nov

8

Transfer books do not close.

eo'o*

OOt COM

Auction 8aleB.

—^Among other secnri ties the following, not

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

00

&

S

•

•

•

P<

:

:

•

.

t ;

stocks.
.

xot

BOO
'-"^
caa 22
*5i ••
09

fi

1

60c.

ot^

EH

a

pref. (qn.)

OH (quar.)
Edison Elec. lUnm Boston (qnar.)
Internal. Smokeless P. & Chem pref.
Central

Pullman Co. (qnar.)
Eallway Equipment Corp'n (monthly)

c

Onitomi

Nov
»9Nov

0—a na

i-i^t^

H«,Nov

Municipal (Jas, Albany (quar.)
National Fireproofing, pref. (qnar.)

— ID nx
— « otot
00 ^
——
ic

^^00
eoea

3>aOct
13,4

Amalgam.ated Copper (qnar.)

Steam Pump,

Oct

m'Nov

otot

,

28':::::

I

liaNov

.

Ulii

l>*Nov
Nov
8

HUvr. Eleo. By. <& Light, pref. (qnar.).
Pittsburgh Traction
United Traction, Albany, N. Y. (quar.)
niacellaneoaa.

00

••>«

Consol Traction (Pittsburgh), pref

w«

Oct

IHi

—10

X
n
a
a
aTxto" Ota a
X
OOQOODXA X
«o^a<-i^ ^
» x^x X 0^0 0,
00
p^
^
«

10

0»«(BO0»»

a>«'oct

(O.) By., pref. (qnar.)

otot

OAO r4
XX9
r*(C'^
^t*Ot*A»

..

OC-

Columbus

IHNoT

2

c*noxx»- X
o«»co«xm

«
V

.-1

« — t»ot-m

(»

0x0
0^
^
^
«

*

xott- —

<c

X
«
a
a

eoet
frt

nasot-o
o-v (CcDax CO
— 04mo«« a

ai

•*
r»

C*C"

Nov

I84

Duquesne Traction, Pittsburgh
Grand Baplcls By., pref. (qnar.)

01

e-

otco
oac>

a—

5»
rH

X
«
X
«

Railroads (8t«am).
Great Northern, pref. (qnar.)
Beading, 2d pref
street RallvraTS*
Brooklyn City RB. (qnar.)
Central Tracilou, Pittsburgh

ID.Oi

'«e«

a
«

X
n
X

t*CDX>oOROO

c-

e

e
e
9 »

lOqox to AC*
ot r-i Kj ri 0»
CCOtO 09^04

.

a

oaiPTB

vH

0-4

1

..^

1

i

aDO«)i-«00M

1

—V
9
0)io
•"*

1.4
.-«

^OOODCDOO

«-^

...

1903—

n OX04 10
10
cc-^mo^o 10
OD®t» r-CO r^
«
S CO A 03 OQ X
1*
09
QD
eo at V

CQ

w
a w»oc-3> X
ooot-t* t-« X
I- J.
en
a
•<i>r«i»— — m
<o
——
—
10
OtXO A X X
a — mc- — 10 a
•••WX»«DOt o
t»xt- a
x
n
otr-»i»o<D t»
CD
a X
eoxcbOC^a o
ac>c> — at —
*
00 00 -V c* c*
«0 t-3D»X X

00

CD
CO
CO

*-«

..«

.H

«3>0

«
at

1

t*o

— 1^ — »©a

^
— loa «a
—
oaSai <H
^

•9

t»«o

1

»»«•>* ctoo

Mat

.-i-*t-

et
iH

•^oot*-^

a
— •t» a
otxn a
x«a> A
.rtatX
xoie l—
«
•«

»•*-'-

«»(«xa

V

<OXr->

V

AX ^00**^^
^H
009

•WOS'^O^

axf

X^
ao
ao

<D

CDOOIO

.-<

OOIX

•*
.^
.4

A«

— X
m
0Di,xac»
XOt — io«
S
<•

OOOOQO

jc

a
wasoD^XO •«

.-1

ax«D

a
^
X9>S ^
O^S
c»
o>r.« e
— OB* a
*
can

«
a

^

«,<C(OX«C-

o»c»

CZ.IO30

,

3
X

X
10
X

«X>'9

,

9>

<E>3>at

tot

loacD^^ —

nxs e>^

..

eoon

.d

A

\

«u
— xica
OS — -lONI^

f StlO «

c-

asis

Zi

a:

1930
Central Trust Oo
90
188 Valentine & Co
100 Pao. Coast Iron A Bteel
1

Stocks.

20 Lawyers' Mtge. Ine. O0.I6OH
S31i«
30 Home Ins. Co
125
20 Northern Nat. Bank
27 MeobanloB'Nat.Bk..N Y.242
10 Bank of N. Y., N. B. A..277

$50 lot
Co.ilOeaoh....
22 Federal Bank (aBB'mt ot
Bonds.
100
30% paid)
80ifl $13,000 Lelbloger Brewing
30 Am. Chicle Co., pref
106
Oo. 2d 5b. 1908, J&J, Jnly,
10 Equitable Nat. Bank
25
1898, coupons on
24 Farmers' L. ATr. Co.. .1460'*
9105,000 Leiblnger Brewing
35 MntualTruBtCo.of West5
Uo. Incomes, 1928
160
obester Oo

Oct.

THE CHRONICLE.

17, 1903.]

New ¥ork City Clearing House Banks.— Statement of
condition for the week ending Oct. 10, 1903, based on average of daily

—

4

1

..

results,
He omit ivo ciphers (00) in all

eases.

New Kork

City, Boston and Philadelphia Banks.— Below
of the weekly returns of the Clearing House
lianks of New York City, Boston and Philadelphia. The New
York figures do not include results for non-member banks.

is

a

summary

»'e

BAAKS.

LegaU.

Specie.

Loans.

Surplus.

Capital.

Deports Re-

r

s' ve.

America

.

Chfmic«l ..
Merch. Kx

.

Gallatin
But. i)B Drov

Mech.*Tra.
Grotfuwich
LeatlL.Mfrs.
Ani«r. KxcU.

Commerce..
MercauiUe
Pacitlc......

Chatham

...
...

450.0
200.0

N. America
Hanover ...

2,000.0
3.000.0
1.000.0
1,550,0
500,0
1,000.0
1.000.0
2.000.0

People's
IrTiiif;
Cltizeu.s'

..

Kasaau
Mar. A Fnlt
Shoei&Lthr.

Corn K.KCh .
Oriental ...

& Tra<l

Imp.

Park
Kast River
Fourth
Central

Second
First

N.Y.Nt-Ex.

Bowerr

...
...

N. Y. Co

German Am
Chiise
Fifth Ave..

German Ex.
Germania

..

Lincoln
Gartield....

FUth
Bk. of Met..

West

Side..

Seaboard

..

IstX.Sklyn
Liberty
N. Y.Pr.

Ex

New Amst.
Aator

1.500.0
3,000.0
250,0
3,000,0
1,000,0
300,0
10,000,0
1,000,0
250,0
200,0
750,0
1,000,0
100.0
200,0
200,0
300,0
1,000,0
250,0
1,000,0
200,0
500,0
300,0
1.000,0
1,000,0
500.0
350,0

2,59ao

1,580,0
2,159,0
1,119,2
1,355,0
2,209,1

6.857.0
2.3y(i,6
1,347,0
4,094,0
2,747,8
3,88o,8
3,511,2
27;f,0
586,0
310,9
16,852,2 140.45l>.6 26,988.2 6,737,2
4.706.8 1,853,7
7,461,2 23.949.6
730.4
587,5
5.048.1
342,3
729.4
529,7
7.535.6
2,207.2
626.6
63,4
2,193.5
124,2
371,0
290.0
4.040.0
370,0
223,3
341.6
2.123,4
528,
418,7
777,2
4,699,8
520,9
3,948.0 1,703,0
4.018.1 3O.'295,0
10,000,0 125,963,0 22,004.9 8,342,1
3,443.0 1,149,7
4,423,6 22,76o,7
504,6
291.6
3,149,1
600,5
637.1
858,3
5,760,5
1,087,4
474,5
85,7
2,200,0
394,0
1.205.9 1,656,9
2,045,1 13,707,2
8,081.3 6,074,8
6,307,8 44,348,7
779.8
437,1
6,9i)8.0
1,050,5
481,5
1,400.8
7.065,1
6 6-', 6
313.6
329,3
2.567,6
313,0
587,3
1,026.1
6,377,0
1,248,5
191,9
5,276,9
1,295,4
346,8
4,324.0
3,363,0
25,044,0
3,286,8
148,9 1,001,7
5,878,8
1,026,9
3,852,0 1,210,0
6,511,9 22,010,0
6,895,3 67,097,0 12,491,0 3,827,0
96,5
158,7
1,000,7
143,1
2,567,1 •2,391,6
2,910,1 17,041,1
639,0
2,450,0
602,2 10,169,0
9,243,0
1,317,0 1,084,0
1,304,1
75,578,0
16,636,9
2,406,1
13,412.6
999,3
489,0
6,677,5
890,3
372,0
296,0
2,727,0
773,5
784,6
392,2
4,263,5
651,0
576,7
221,4
3,575,2
492,3
3,762,9 37,329,7 11,358,0 1,973,3
315,9
8,758,0
2,196,8
1,659,4
185,0
520,0
2,832,0
659,2
420,7
575,2
3.000.4
873,9
308,9 2,081,3
1,309,4 10.129.9
7,125,8
1,364,4
340,6
1,289,2
408,4
2,428,7
151,0
370,6
1,640,8
339,5
7,906,2
1,394,2
558,0
347,0
3.240,0
518,7
1,985,0 1,573,0
1,338,8 11,607,0
524,0
4,184,0
682,0
58J.6
9,726.0
1,542,8
240,0
1,901,1
922,3
280,4
4,498,1
507,9
476,8
549,5
6.155,9
578,8
199,0
4.935.0
1,035,0
523,2
2,43;l,8

750.0

$

$

17,194,0
19.197,0
11.592,1
12,054,0
19,296,7
4.128.0

2.44S.1

3.000,0
2,050.0
2,000,0
2,000,0
1,500,0
1,000,0
25,000,0
300,0
600,0
1,000,0
300,0
700.0
500,0
600.0
5.000,0
25.000.0
3,000.0
422.7

Phoiuiix
City

*

*

*

Bk. of N. Y.
Manhat. Co.
Merchants'
Mechanics'.

P.O.

*

16,178,0 258
24,217,0 3ol
12,989,9 2 / -0
14,147,0 38-!>
21,404,6 2<-4
3,639,0 23-6
127,71.-.,8 26-4
23,166,0 28-3
6,229,9 25-2
4,908,0 25-6
2,391,9 24-6
3,o60,0 iV-1
1,673,4 33-7
4,688,4 260
22,832,0 24-7
109,411,4 27-7
19,402,2 23-6
3,779,4 21-0
5,685,4 26-2
2,367,4 23-6
11,689,0 24-4
51,813,2 2/ -3
5,056,0 24-0
7,476,9 25-1
2,882,9 22-3
6,263,1 25-7
6,085,9 24-4
30,100,0 25-5
6,247,4 21-9
19,141,0 26-4
62,756,0 20-0
1,025,8 24 -S
18,544,6 265
11,908,0 25-9
9,755,0 24-6
64,423,3 29-6
5,798,4 25-6
3,120,0 21-4
4,859,5 24-2
3,426,8 23-2
45,789,8 29-1
9,570,1 26-2
3,305,6 21-3
4.756,7 20-9
10.219,5 23-3
7,014,0 24-2
2.398,8 23-3
8.870.6 22-3
3.654,0 24-7
13.316,0 26-7
4.409,0 27-3
7,776.3 22-9
4.487.0 26-8
6.079.2 16-8
5.009,0 24-6

Total... 115,572,7 129,874,3 913,101,5 171,063,7 69,917,2 t8976151 26-8
t

Total United States deposita included $36,869,300.

Reports of Non-Member Banks.
statement of condition of the
week ending Oct. 10, 1903, based
We

—^The

following

non-member banks
on average of daily

omit two ciphers (00) in all

is

the

1207

Cap

uAincs

I

('lilt'

omit two ciphers (UU) in all these
Loans.

Surplus.

Specie.

OOs omitted.

CapitoL

invest-

ments.

169.391.9 71,162,3
16.S.085.8 71,819,8
167.478.4 70,7ti2,"
171,063,7 69,917,
17,987,0
17,538,0
17,938,0

52,.S22,0 185,590,0

62,635,4 184,821,0
52,635,4 186,856,0

Oct 10

Colonial

Columbia

..

14th street.
Gar.i^evoort.

Uamiiton

..

Ml. Morris

Mutual

....

Ward
PUza
19th

.

Blverside .
State
12th Wartl

23d Ward
YorkviUe

..
..

Fidelity....

Varick
Jefferson

Century

..

...

Wash. Hgts
United Nat.

»

100,0
300,0
100,0
200,0
200,0
250,0
200.0
200.0
100.0
100.0
100,0
200,0
100,0
100,0
200,0
100,0
400,0
100,0
100,0
1,000,0

209,2
270,0
110,5
64,0
114,0
109,8
209.5
197.7
243.8
103,3
498.6
100.5
93,1
271.0
116.4
64.3
256.2
53,2
121.4
206,5

2,362,9
3,427,0
1,526,0
1,769,4
2,339,0
2,012,1
2,183,6
1,291,9
2,795,0
1,060,1
6,995,0
1,526,0
1,447,1
1,857,9
655,3

116,0
300,0
252,0
500,0
100,0
300,0
300,0
100,0
100,0
100,0
200,0
200,0
100,0
200,0

317.3
162,2
532,6
348,6
51,0
649,6
689,5
167,8
166,2
80,4
268,4
120,2
72,1
77,8

1,959,7
1,487.1
2.843,1
5.516.9
883,0
4.105,0
2,851,0
882,3
1.176,3
612,1

756,8
1,848,8
401,3
614,2
2,062,3

$

$

52.0
230,0
77,8
44.0
134,8
131,5

193.3
109,0

28,1

191,7
129,4
146,0
99,5
238,0
197,0
180,3
219,4
37,9
55,6
71,8

26.5
168,0
15,5
428,0
46,0
50,6
23,5
10,7
4,5
6,0
6,0
9,5

83,9
98,0
107,2
86,0

238,8

17,3
27,0
43,5

13,1
107,3
307,2
160,7

181.0
59,0
98,4
487,4

283,6
234,0
325,3
98,6
237,3
312,7
195,2
238,9
165,0
75,3
75,0
118,0
206,7
150,8
59.3
69.3

197,0
30,3
32,0
78,9

$
§2,6
3.0

50,0
36,4
100,0
54,4
.

242,4
53.9

313.0
25.0
75,9
1,8

34.6
5

15,4

2.642,0
3,559,0
1,895,5
1,895,4
2.682,9
2,746,0
2,473,4
1,615,7
2.950.0
1,126.7
7,369.0
1,955.0
1.875,1
1,965.8
597.5
783,3
1,532,5
332,5
469,5
1.246,3

BoroyLghot
Brooklyn.

Broadway
Brooklyn

.

..

Mtrs.'Nat..
Mechanics'
Merchants'.

Nassaa Nat
Nat. City

North

..

Side.

Peoples
17th Ward
gpras<ueXat
Tfnion
.

Wallaboul

.

Borough ...
Borough o)

967,0
1,347,3
782,3
1,407,9

1-2,1

200,0
94,0
11,0
42,4
10,0
104,0
47,0
46,7
13.3

70,1

429,7
213.2
525,5
402,5
151,0

401,0 1,104,0
277,0
672,0
62,7
121,6
62,0
5,3

94,1
25,2
92,2

51,7
188,9
86,8
200,5
111,9
68,2
160,5

25,8

40.0
10.0
25.0
133,0
206,6
65,7
70,9
85,0
151,0
61.9
27,2

2,250,4
1.596,5
3,362,1
6.435,3
1,062,2
5,308,0
3,448,0
967,2
1,409,3
674.7
1,015.0
1,439,1
807,7
1,511.7

BiehJnond..

Bk.

of St. Is.

l8tNat.,S.r.

75,5
110,3

545,4
738,0

18.8
34,9

400,0 1,031,4

4,009,9

228,6

250,0
250,0
200,0

640,7
288,9
278,8

2,313,8
1,164,7
1,121,4

81,4
72,9
57,5

67,2
19,3
87.4

171,2
151,7
271,8

50,3
10,3
6,4

1,871,6
998,7
1,298,4

110,0
125,0

522,9
143,7

2,990,3
1.095,2

144,5
42,1

57,1

Sill

125,9
56,9

47,7
25,9

2.823.3
1.141,5

25,0
100,0

15,0
10,0

23,0

606,3
746,4

277,8 1,075,0 i.oia2

5,423,9

88,1
161,7

Jersey City
First Nat...

Hudson

Second Nat.

6,257,0

129,074,9
133,885,4
126,077,5

206,696,0 ll,49a.(j
206,857,0 11,436,0
206,415,0 11,030,0

106,623,2
123,952.2
101,721,1

t

;

Imports and Exports for the Week.—The following are
New York for the week ending for dry goods
Oct. 8, and for the week ending for general merchandise

the imports at
Oct. 9

;

week January.
FOREIGN IMPORTS.

also totals since beginning first
1903.

For week.

Dry Goods

1902.

1900.

1901.

*2,149,160
8.477.559

$2,319,910
8,270,790

$2,249,674
8,087,589

$1,739,790
8,100,555

$10,626,719

$10,590,70^

$10,337,263

$9,840,345

$106,676,301
Dry Goods
General Merchandise 362.751.528

$99,373,203
342,210,113

$84,140,640
350,927,693

$93,742,508
326,842,110

General Merchandise

TotaL
Since Jan.

1.

Total 41 weeks

$469,427,829 .$441,583,316 .$435,068,333 $420,584,618

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
The foUowiug is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Oct. 12, and from January 1 to date.

EXPORTS FROM
For the week
Previously reported..
Total 41 weeks

NEW YORK FOR THE WEEK.

1903.

1902.

1901.

1900.

$12,727,455
375.845.040

$11,527,177
363.806,560

$9,725,643
392,905,083

$12,052,103
414,i«2,979

$388,572,495 $375,333,737 $402,630,720 .$420,005,082

Note. — As the figures of exports as reported by the New York Custom
House from week to week frequently show divergence from the monthly
totals, also compiled by the Custom House, we shaU from time to time adjust
the totals by adding to or deducting from the amount "previously reijorted."

The following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 10
and since Jan. 1, 1903, and for the corresponding periods in
1902 and 1901.

EXPORTS AJfD IMPORTS OF SPECIE AT

NEW YORK

Exports.

Imports.

Germany
West Indies

Since Jan.

Week.

Great Britain
France
,

France

Mexico
South America
All other countries

Total 1903
Total 1902
Total 1901

1,

$2,579
2,929,154

20
$5'588
104
57,987

$10,760 $32,855,718
26,023,485
'2;6o6 29,221,176

$65,500
1,213.502
66,151

All other countries

Germany
West Indies

Since Jan.

3,076.535
1,749,293
64,297
7,675,312
10,300

$6l6o6
4,760

...

Total 1903
Total 1902
Total 1901
Silver.
Great Britain

Week.

1.

$20.2'89i98i

..

Mexico
South America

372 193
180.016'

562 935
54.460

1.827

$4,101,357
4,374,384
3,996,142-

$270,270 $19,887,645
38,155
2,500,141
2,600
152,751
15,200
165,826
886,460

$4'996
13,792
11,470
600

43 818,
879,355

!J308,425 $23,610,623

$30,758

$1,244,979
972,196-

646,315
681,470

$44,000

844

£6,166,159
38,043,200

8.571
133.779

271,595'
5.367

2.960.012'

Of the above imports for the week in 1903, $35,465 were
American gold coin and $5,016 American silver coin. Of the
exports during the same time $10,760 were American gold'
com and $153 were American silver coin.
Auction Sales.

—See page preceding.

Spencer
WILIilAm:

Trask &
BANKERS,

& PINE STREETS,

-

Co.,
-

NEW YORK.

Transact a general banking business; act as Fiscal
Agents for corporations, and negotiate security
issues of railroads and otiier companies.
Execute
commission orders and deal in

INVESTMENT SECURITIES,

Members N.

Y. Stock Exchange.

Moffat

HOBOKEN.
First Nat...

6,2.'i7.0

5,094,0 210,540,0

10
Including for Boston and i'hilailelplua the item "duo tiiotlur banks,"
and also GoveriLment deposits. For Jiostou these Government deposita
amounted on October 10 to $6,415,000 on October 3 to $6,410,000.
rK!t

Co.

National .
Second Nat.
Third Nat..

6,4.'iO,!

5,167,11 209.776,11

cases.

Leg. T.
yet
Specie.
(ScBank Clear'g Other Deposits
Notes. Agent. Bks.&c

$

5,385,0 209,559,0

63,375,0
53,455,0
53,237,0

44,764,0 183,192,0
48,167,1 183,465,0
48,167.1 182,250,0

results.

Bitroughs of

$

909,482,3 45,306,9 1,023.487,3
901,345,2 15,686,5 1,039,634,4
.S97,214,4 4'),()71.7 1,327,845,7
897,615,1 45.714,8 1,116,736,4

IMiiln.

Sep 20
Oct 3

for the

N. Y, CITT.

ManABr'nx

Clearings.

latton.

i

$
243.500.1 922.055.8
•247.506.0 917,047.7
247,506,0 912,903.1
245,447,0 913,101,5

Gold.
pttw.

VircuI

posits.

N. Y.

Sop 19
Sop 26
Oct 3
Oct 10
Boh.
Sep 26
Oct 3

Deposit with

BAJTKS.

Leyals.

figures.

l>e-

Branch

Office. 65

State

St..

Albany.

& \Vhite,

members New York Stock ExchanKe,
1 NASSAU STREET, CORNER WALL,
Dealerii in Investment §eeuritfe8.

Tot. Oct 10 8,512,0 101089 79.731,4 3,586.3 4,953 7 9,651,9 3.182,2 87.910,4
Tot. Oct 3 8,512,0 101089179,274,6 3,452,2 4.46S.8 9.405,5 2,882,4 ^6,391,
Tot. Sep 26 8,612,0 101137 78,782,3 3,377,6 4,596,0 8,382,8 2,638,4 84,183,8

TeL

5830-5821 Cortlandt.

Telepboae Stocks a Specialty.

*

.

I

THE CHRONICLE.

•2t)8

anlicrs^ ©alette.
For DitUieneU iee ptuft

i»o6.

WALL

STREET, FRIDAY, OCT. 16, 1903.-5 P.M.
The Money Market and Financial Situation.— The conditions atfecting security values remain practicallj' unchanged
since our last issue. Railway stocks generally inclined to weakness until to-day. while bonds have been steady, and both
have been inactive. Industrial issues have been given more
attention, have been relatively more active, and in many
cases have been decidedly weak.
There are reasons for this
weakness aside from those that may have affected the railway
Colorado Fuel

list.

.

&

Iron recorded the sharpest decline,

151^ points, the miners" strike being still unsettled.
tJisclosures now being made regarding modern methods of
organizing and promoting new corporations and floating
These disclosures
their securities have attracted attention.
are not of a character to increase public confidence in securities of that class, but on the other hand have doubtless
added to the depression of some prominent issues that are
dealt in on the Exchange.
Latest estimates of the corn crop give assurance that it
will be a large one and of excellent quality. Western railroad men continue to report a shortage of cars, although the
movement of the enormous corn and wheat crops has not yet
commenced, and the serious freight blockade in the Southwest seeems likely to be duplicated in other localities.
The open market rates for oall loans on the Stock Exchange

daring the week on stock and bond ooUaterals hare ranged
from 13r^ to 2% per cent. To-day's rates on oall were IJ^ to
834 per cent. Prime commercial paper quoted at 6 percent for
endorsements and 6@6J^ per cent for the best single names.
The Bank of England weekly statement on Thursday
in bullion of £740,376 and the percentage of reserve to liabilities was 4402, against 4289 last week,
the discount rate remaining unchanged at 4 per cent. The
Bank of France shows a decrease of 16,450,000 francs in gold
and 6,075,000 f ranos in silver.
The New York City Clearing-House banks in their statement of Oct. 10 showed an increase in the reserve held of
$9,789,800 and a surplus over the required reserve of
$16,677,125, against $13,937,500 the previons week.

showed a decrease

I

Vol. Lxxvii.

The railway bond market would have been exceedingly dull but for a large volume of business in United
States Steel Ss. Including these the total has averaged less
than $2,400,000, par value, per day, and few issues have been
conspicuous in any particular.
United States Steel 5s declined 2J>^ points in sympathy
with the shares during the early part of the week, but recovered later and close with only a fractional net loss.
Wabash debentures declined IJ^ points on limited transactions, and responded to the better demand to-day.
Colorado Fuel & Iron convertible Ss lost 8^ points on the general
downward movement of the shares. Other active bonds
fluctuated within narrow limits and net changes are unimportant.

United States Bonds.— Sales of Government bonds at the
Board include $2,000 4s, coup. 1907, at 110^^; $ ,000 4s, coup.
1925, at 135K: $3,500 3s, coup. 1908-18, at 108}^ to lOS^^, and

$3,000 3s, reg. 1908-18. at 107i^ to 107^^. The following are
the daily closing quotations; for yearly range aee third page
following.

1918,

1907
1907
1936
1936
1904
18.1904

Oct.

Oct.

Oct.

Oct.

Oct.

Oct.

Ptrioia

10

19

13

14

16

10

Q—Jan
Q—Jan

•106 1-2 *106>a >106H '106»8
•106 Vj •106>a *106<^ '1C6»»

10668'*106Ja

Q—Feb
Q—Feb
Q— Feb
coupon q— Feb
small
registered Q—Jan
coupon Q—Jan
registered Q— Feb
coupon Q— Feb
registered Q— Feb
coupon Q— Feb

*107i2 107 >s •107>4 •IO719
-108V» lOS"* 108^ •108>«

10778 *107i«
1C83b '108V

la, 1980
registered
Ss, 1980
coupon
>a, 1980 .amaJ.registered
Ss, 1980 ,8mall
coupon
8s, 1918
registered
8a, 1918
coupon
88, 1918, small. registered
8s,
4s,
4s,
4s,
4s,
68,

Int*r*st

103'^*lC6Vi

•ib'eii *ib6>» •ibei^ ibe'i^

*110V|
*110>«

*106V *106V
•llOH *110>a •no's '1104 *110»a
11034 *110ia *110>« •110>a

*U0\

•186
186 184 •184
*186
136V •136 •186
*102i« *102i2 •103 >a *102i^ •lOlV *101V

•136
*136

*136
*136

•102»9 •IO212 *102ia •IO212 •103'»

•103S

'Tbla la the price bid at the morning board: ho scm was nuwie.

Railroad and Miscellaneons Stocks.—The stock market
has been irregular but generally weak. There was a fair
volume of business on Monday, the transactions amounting
to nearly 800,000 shares, but this steadily diminished to
about one-half the amount mentioned on Thursday and the
featureless. With few exceptions,
was lower, the decline averaging be-

market was narrow and
the active railway

list

tween 1 and 2 points, until near the close to-day, when the
market took on a more buoyant tone than for some time
J>iff»r$nc*t
past, and closing quotations are in many cases from 1 to 2
lyoa
1903
1901
from
Oct. 11
Oct 10
Oct. 19
points higher than last week. New York Central, Illinois
prniout v)$«k
Central, Reading and Manhattan Elevated have been relatively
firm throughout the week.
100,e73,70(
XSKfAMi
116.673.700
81.733,700
orplaa
Again the miscellaneous list has been erratic. New York
129.874.S0O
117.667,900
98,843,700
IioaaaA diaoonnU 918,101.600 Ino
108.400 874.647,900 870,900,700 Air Brake covered a range of 12 points, American Car &
Otrenlfttaon
40,100
86,073.600
46.714,800 Ino
80,988,800
Hetdepoaita
•897,616.100 Ino
400.700 *873,340,600 943,6t)8,900 Foundry preferred declined 12 points, and Colorado Fuel &
>p«ele
171,063,700 Ine 8,686,800 163,338.300 183,601,900 Iron declined 153^^ points, both recovering to-day. WestI^galt«ader«...
69.917.300 Deo
846,609
67,374,800
70,663,600
inghouse fluctuated widely, Anaconda Copper lost 4 points
BcMrreheld
340,980.900 Ino 3,739,800 319,613,500 363,166,400 and Tennessee Coal Iron & Railway was inclined to weakSB p. e. of depoalta 324,408.776, Inc
100,176 218,086,160 236.672,336 ness.
As has been usual each week for some time past, the
Steel issues established new Jow records,
Snrploa reaerre
16,677,126 IBO 3,639.636
1,627,860
17,483,176 United States
••86,869,800 United State* deposlta inolnded, agalnat $86,808,800 iMt the preferred 57J^ and the common at 12J^, from which
vMk. With these United Statea depoaita eliminated, the aarpln* reaerr* substantial recoveries have been made.
womld be 829,794,460 on October 10 and •23,139,700 on October 8.
For daily volume of buainesa aee page 1215.
KOTB.— Betarng of separate banks appear on the preoedlnK page.
The following sales have occurred this week of shares not
Foreign Exchange. The market for sterling exchange was
firm this week. Long and short bills were easy on Monday, represented in our detailed list on the pages whioh follow.
after which rates advanced and cables were in good request
SaUe
STOCKS
Xtmgt for Wfh
Bcmgt tint* lam. 1.
during the entire week, influenced by a demand incident to
WtCK Kniing Oct. 16 week
the semi-monthly settlement in London.
Co.
600
9 Got 14
8 Oct 13
8 Got 38 Feb
To-day's (FWday's) nominal rates for sterling exchange A.lll8-Clhalmer8
Amer Steel Foundrlea... 326 6 Oct 16 6 Oct 16
6 Got
30 Jan
were 4 83 for sixty day and 4 86^@4 87 for sight. To-day's Cleve Lor A Wheel, pref 200 76 Oct 16 76 Got 16 67>«J'ly 97 Ja»
10 76 Oct 1» 76 Got 13 76 Got 76 Got
(Friday's) actual rates for sterling exchange were 4 8240 Oreen Bay & Western..
Mining
100 65 Oct 12 66 Oct 13 66 Aug 66 Mar
@4 8250 for long, 4 8555@4 8565 for short and 4 8610@4 8620 Homestake
New Central Goal
800 46 Oct 10 46 Oct 14 46 Sep 50 Jan
100 94 Oct 12 94 Got 12 94 Oct llOVFeb
for cables. Commercial on banks, 4 8220(34 8230, and docu- United Fruit
Utlca & Black Blver
6 176 Got 16 176 Get 16 176 Got 176 Got
ments for payment, 4 81 %@4 82>^.
Cotton for payment,
4 81 ^^@4 811^; cotton for acceptanoe, 4 8220@4 8230, and
grain for payment, 4 82%@4 82J^.
Oatside Market.— Dealings in the market for unlisted se«
To-day's (Friday's) actual rates for Paris bankers' francs curities have continued on a small scale this week. Strength
were 5 20*@5 20 for long and 5 17i^^:@5 17^* for short. Ger- was displayed on Saturday, but on Monday weakness develmany bankers' marks were 94^^^@94^ for long and 95}^ oped and prices generally moved downward until Thursday,
@95 3-1 6t for short. Amsterdam bankers' guilders were when the market took on a firmer tone. Values advanced
sharply to-day in sympathy with the rally on the Stock Ex40@401[ for long and 40^(3401^11 for short.
Exchange at Paris on London to-day, 25 f. 15 c; week's change. On transactions aggregating about 6,500 shares,
range, 25 f. 15J^ c. high and 25 f. \i]4 c. low.
Northern Securities stock declined 1% points to 83, then reThe week's range for exchar ge rates follows
covered and on Thursday sold up to 85 J^; to-day the stock sold
-I/ong.-ShorU-Cables.ex dividend, and the price advanced from 84^ to 85. Sea8t«rUng Actual—
board Air Line issues have been dull. The common gained
'& 4 8360
High... 14 8250
•a 4 8676
4 8666
4 8616 « 4 8626
Low... 14 8320
9 4 8236
a point, to 12^^, then reacted to 11^, and to-day recovered
4 8640
4 8560
4 83
® 4 8610
J^rit Banlcerif Franct—
to 2^. The preferred Ion Saturday advanced 2 points, to
'3 6 20
High... 16 20*
6 17'«» 9 6 17>«*
To-day an odd lot brought
22, but later it fell off to 19i^,
Low... 6 20^
@ 6 30*
6 18>a
6 17>9t
Interborougli Rapid Transit on Monday lost Ij^
21 J^.
0*rmany Bankera' Marlct—
points, to 81, This was followed by an advance on WednesHigh...
95 1«
e4<^
® 9t*4
® 96»i«t
Low....
'3 94>iis
04<^
day to 84 and a sharp break the same day to 80i^
961..
9 96H
Amtterdam Bankerf 9utUUrB—
Standard Oil gained
The stock sold to day at 82i^.
/8'
High...
® 40ii8
401,
« 406i8'
40>4T1
dropped to 614, and today
points, to 625, then
8
Low...
40
@ 40
40>«
'S <0\M
62
International Mercantile Marine
recovered
to
1MB'. • h, of 1%. t »3i Of 1%. * »M Of 1%. Plus: H »i9 of 1%. •* 1m of 1%.
moved up from 3J^ to 4^, and the preferred
common
The following were the rates for domestic exchange on
American Can preferred
from 13 to 15^.
New fork at the under-mentioned cities to-day: Savannah, advanced
lost 2 points to 273^; the common declined 1,^ of a point to
62 J^c. per $1,000 discount; Charleston, 60c. per $1,000 dis- .1^. North American Lumber & Pulp rose from 4^ to 6i^.
count New Orleans, bank, $1 per $1,000 discount; commer- Havana Tobacco common declined 2 points to 20. Greene
cial, $1 25 per $1,000 discount; Chicago, par; St. Louis, 60c.
Consolidated Copper was the feature of the copper group;
per $1,000 premium; San Francisco, 60c. per $1,000 premium.
this stock fell off from 16 to 13^, but to-day recovered to
State and Railroad Bonds. Sales of State bonds at the 141^. Tennessee Copper lost a point to 28, while White
Board icclnde $13,000 Tennessee settlement 3s at 94)^ to Knob dropped 1% points to 9.
941^ and $10,000 Virginia 6s deferred trust receipts at 6^.
Outside quotations will be found on page 1215.

—

:

1

I

I
I

.

I

I

I

I

1

;

—

New York

3
9

..

.

Exchange— Stock

Stock

Record, Daily,

Weekly and Yearly

OCCUPY IN c; TWO PA<JKS
i-roCA.s— yyytvv/A.s/
Saturdaii
Oct.

•30
•ST

^i\
8708
7£3^

«7

10

•30

73;'s

87
32 >a
J 27
1+4

'M. 13

35
62

•57

63^4
37'^

IJ

/,OU

62

63^

St>'4

STH'

Oct.

•29

32

-.->7

62

72

T3>,

63
87
72 "s

,^6»4

^li^j

•SliSi

l-.s/

.

^/^/-A

•29
-57

64%
87^
73

'4

M

63

14
32
62

'4

64

Je

Hd-'^

874

73'«
JsTH,

73^8
87"^
32»8

'JS»

29
26

30»4

2S'-j

32

H.

29

•J',1'.,

3(1

23 Hi 24Sti
23 H! 2484
62
62
62 Hi
62
*183
200
200
•1S3
200
120 •no 120 *110 120
14 '4 1434
1414 l-i^4
14^4 Ifti^
*80
"80
84
81
84
•SO
64
65
«64
64
65
€5
27
23 >4 2514 -24
26H: •24
VM-'^VAti^ 134-^1357;. 135>-jl36«b
•170 172 §172 '4 17214 n70'4 17014
«158>4l5S>4 153 i:.6>4 154 '» 156
193 "4 li'314
•Jo""

62
•183
•110

6Q

132"

•120
•150
•17
•4

120
180
10

120
•150

124
180

8

8^1

18
5

•8
•15
•4

17
6

•120
•150

11

48

48

18'4

l.S'4

ll'e
Hi
48V1
18V, 19
loOi-jlSlVi

230

230

lit

19

66 Sj 60 Vj
•14
10
•H
17
17
• 60
SHi
•7'a
•lOVj 12
26^ 27Ss

65 >2
65
46^4 47
•44
50
•72
80
•35 Hi
•160 170

Hi

150 150
230'«230»s
18'4
18
65 >*
64
14
14
9
*8Hi
16
16
5!>»4
69
8Hi
•7H2
•to"* 12Hi
2618 27
64U 65
46'4 47

•44
50
•72
80
•35 Hj
160 160
10>«

•65
70
•77
79
12S>2l28H2

*60

70

I8V1

i\l^

33
30
64

»20
62 14

•31»-j

40

•40

46

•90

105

•53

I8H1

I6H2

16H;

•15

414

4

60

•120
•82
•63 Hi

*116
16'4

12
47 Hz 47 H.
19
19
150 ISU^j
230>.i232
iSi'2 20

28
105

Oo-is

47 '4
•14
•72

lOig

50
80

•54

16>4
3334
87^4

•16>«

•85
90
37
38 Hi
*19
19*4
11438 116

•85
3d
?193g
115
*21

1534

33
8684

33
30
64 >4
19
31Hi

20
45
28
90

•eo
•90
45
*75H»
•90
23 H2

*80 110
62
52
116 Hi 11734
•15
20

75Hj 75H?
*59i4 "59 14

61
96
4534

76>*

62
24
68Hi 59

•b
•34
•13

56
{8734
42Hj

•90
95
43 Hz 4434
7dHi
6134

75H;

62

23^

24^8
57Hj 58»8

38

32

32

15

84
17

44
113,
48I4

19
153

4

161

Chicago

2 6 7^
633,

114 1C4
2534

n70

16

•44
"76"

18
5

664
74

834

»3^

•15
55

17
65
•74 8

9%
1634

58% 53%

74

47'^

50
80

45
•72

43
80

66
48
•44
*72

176

•160

180

165

«S

8

124
274 284

474

44
72

14

9%
1534

264 27 4
6534 664
*46 4 4734

12

354

67
49

46
80

•354
165

-63

70

•63

71

70

71
78
131

774 774 478
784 •70
1294 12841294 129
-174 19
•174 19
18
32 »4 324 •314 33
32

12834

•20
i

6434

17
•30
10
40

30
6434

184
31«s,

20
50
28
100
60

21

534 634
104

135
50
90
5438
524 65
118 110 119

in

17

334 344
874 884

85

38

90
38

19

19

1154 1164
•21
•100
64

22
105
54
195

204

1934

564 57

44Hl 45=8
•74
75Hi
62
63

234 244
584 59
'"lo"

•32

37

•12

14

88
•42
•85

88

474

110
504 52

1174117'e
•15
75

"'55"'

56
90

89,280

Xorth WesU-ni

3,<105

pref.

0.

Milw.

it St.

IS-'

pref

Glilcapro.fc

Do

*20
64
-17
30
•10
•40
24

—

.

•85

20
75

'is"
90

•86
45
464
•75
76
63 4 64

234 24%
58
584

Detroit United
Diiluth So. Shore* Atl..
Do pref
ITTie
Cj Do 1st pref..
Do 2d pref

20

20
45
25
90

•50

Green Bay<feW..deb.

Do
i_|

135

434

*40
•82

90

514 524
116
16

60

1034
10
•115 135
42 4 424
88
i'ii
524 53

11441144

116

164

354

88
89
•37
•18

87 7g
87
85
85
38
38
•13
20
1153gll6
•20
22

903,

89
40
20

11541174
22

2334

10041004 100
•52
•193

60

105
60
193

53

1944 193

204
54% 56
874 874

214
554 57
20

1978

•42

•86
'42

46

•80
•51

110
56
11634 117 4
*15
20

*55

*744 76

*74

88

474

110
56
11678 119

504
15

19

59 4 "69 4

76
"59" "59"

454 464

454 474

•86

86

90
77

§77
63

del), ctf.

B

ocklng Vallev

lADo

."

pref

Illinois Central

Keokuk <& Des Moines...
Do pref
r ake Erie
JLi

Do

Long

<fe

Western ..

pref

Shore

&

Mich. South'n

IslaSid

Louisville

&

95

76
64

63

234 237f,
574 58

76
64

2334

25%

4

6834

a;57

"*8""l6"

37

32

14

•12

. .

Mexican Central
Michigan Central
Minneapolis

Do
Minn.

Do

36
14

St. Louis.

tfc

pref
S. P.

<fe

pref

Lowest

Kanye lor J^ertout
year (lyo-i)

Uiytusl

Highest

Loioest

S. S.

&

Mane.

.Mhv23

33
60
51

81%

41

Jan 10

Do

Feb
Jan

33
63

J'lylti 69
Jan 21
AiitrK
.^97„,Ja„ 1,1
.XukIIi 103 4 J an 10

May
4 May
96% Sep
06 4 Sep
4834

77

744 Jan
954 Jan
92% Dt'c

1

71%Sc\i2.~ 101 Jan 9
lS4>^cp
.S2'4.ny2r. 963, K»>Ull
92
Dec 99 Sep
29>-. Scp2.714 Fob 17 5434 Nov 72% J'ly
121
Jan
150 Feb 9 110 Apr 128 .\ug
140 Sep A 160 Feb 9 130 Apr 145 Sep
1 15% Oct 14 1383^ Fob 10 1124 Jan
145 4 Sop
57 4 Sep 24 78 4 J an 5 71 D.'c 97 May
151 Oct
190 Jan 19 IS5 Nov 198 Jan
27 4 Aug t) 53 4. la 11 19 423«D<c 57 4 Sep
1 8 4 Sep 28
374 Jan 5 29 4 Dec 45%J'ly
1

60 Sep 29 734 Jan 7 68 Nov
}170 J'ly2il H84 Mar 12 4191 J'lic
105 J'ly25 1384 Jan 29 136 4 Sep
Aug 6 29% Jan 9 22 Dec
13
83 4 Sep 2.- 907b Jan 13 89 4 Nov
63 Oct lo 854 Jan 9 SI 4 Doc
24 Sep 2b lO'sl'i-l'
33 Dt!C
1334Aug 1834 J 11 7 1604 Jan
Au^'lll
168
194 4 Jan 9 186 Jan
153 Sep2> 224 4 J an 14 204 4 Jan
190 Aug 8 250 Jan 8 230 Jan
132 Oct 13 200 4 Jan 9 152 Jan
117 J'lyll 162 Jan 21 140 Feb
190 May 11 194 Jan 6 191% Nov
3 Aug 5 197gJan 9 1 5 Dec
l5 Sep 24 36 Jan 8 29 Dec

600

•''

.--

11

May23 174 Jan 12

3

30 May22 5034 Jan 14
66 AuglO 99% Jan 6
i',.510
ll34.J'ne 8 119 Jan 27
2',.535
10 J'ly 24 31 4 Jan 10
1,460 44 4 Aug
72 Jan 9
2,250 17 Aug 5 48 Jan 8
2,400 149 AuglU 183 4 Feb 2
s^O'l 230
J'ly 24 276 4 Jan 8
1,950 18 Oct 12 43 Feb 9
Oct 12 904 Feb 9
2,26-i 64
800 12 Sep-..'
474 Jan h
734 Aug 6 20% Jan 2
500
4U0 15% Aug 6 3934 Jan 2
l,4(lii
55 Oct 14 90 Jan (i
7
Aug 5 19 4 Feb 16
400
200 104 Sep 28 29% Feb 16
157,170 23 Aug 8 42% Jan 9
11,054 62 4 Apr 13 74 Feb 5
6,650 44 J'ly 24 6478 Feb 5
100 39 4 J'ly 27 72 4 Jan 8
78 AugU 91 Jan 8
31 Sep 29 7434 Feb24
442 160 Oct 12 209 Jan 22
Mail2 83 Jan 9
1 77
31 10 Aug 11 27 4 Jan 5
320 63 Sep 25 106 4 Feb 20
160 774 Oct 14 994 Mar 2
6,384 125 4 J'ly 15 151 Jan 10
440 lo J'ly 27 48 Jan 12
1,000 304 Oct 12 77% Jan 12
254 Oct 9 47 4 Jan 6
1,660 624 Oct 12 8234 Feb 26
800 16 4 Oct 8 36 4 Jan 12
1.700 29 Oct 8 614 Jan 22
24 Sep 22 40 Mario
48 J'ly 15
Apr23
•310 24 Oct 15 '^55
53 Jan 8
90
1
Oct
300
118 Feb 6
5276 Oct 9 3344Jan 5
55 Oct 8 83 Jan 7
19,630 95 Sep 28 1304 Jan 8
12,250 1264 Sep 28 1554 Jan 14
5,445 70 4 J'ly 24 1287gJan 6
13,230 9978 Sep 29 142 7e Jan 6
250 18 Oct 10 38 Jan 8
100 534 Oct 14 88 Jan 20
934 Oct 15 29
Mar23
6,130
102 .Mtty20
Jan 15
'800 41 Oct 12 135
110 Jan 9
48 85 Aug 5 118 Feb 27
3,305 42 Aug 7 79 4 Feb 16
>•

450 1094J'ne

2

1324Febl7

1,970 1534 Oct 12 30 4 Jan 5
4,400 33 Oct 12 634 Feb 10
Mis-soun Pacific
51,835 8534 Aug lU 11578 Feb 10
400 85 Oct 15 114 Febl6
VJ ash. Cliatt. & St. LouLs
1' at.of Mex, non-onm.pf
1,060 344 Mar 2 47%MBy27
363 19 Oct 14 284J'ne30
Do 2d pref
N. Y. Central <fe Hud-son.. 21,708 112%J'lyl5 156 Jan 10
1,500 194 Sep 28 45 Jan 7
N. Y. Chic. & St L0UI8...
100 100 Oct 6 118 Jan 16
Do Istpref
Do 2d pref
400 60 Sep 28 87 Jan 19
N. Y. N. Haven <fe Hartf
145 n874May25 2254 Jan 9
2,535 19 Sep 28 354 Feb 5
N. Y. Ontario & Western.
Norfolk & Western
19,165 54% Oct 15 764 Feb 10
359 85 AuglO 934 Feb 2
Do adjustment, pref.
paciHc Coast Co
200 3934 Sep 29 72 Jan 10
t Do Istpref
80 J'ly 30 100 Feb 13
"306 504 Aug 11 76 Jan 28
Do 2d pref
Pennsylvania
163,061 1154 Sep 28 157% Jan 10
ib J'ly 24 39 Jan 8
Peoria ife Eastern
"'206 74 J'ly 27 914May 7
Pore Marquette
Do pref
}76 Sep IV J76 Sep 17
"426 55 Sep 29 94 Jan 7
Pittsb. Cin. Chic. <fc St. L.
D3 pref
200 90 Oct 7 115 Jan 17
Oeading, vot'g tr. ctfs.. 139,750 ll^sJ'nelO 694 Jan 2
I-Vl8t pref. vot. tr. ctfs...
210 73 Sep 28 897^ Feb 6
2d pref. vot'g tr. ctfs.
1,100 60 J'nelO 81 Jan 6
Rock Island Company
56,720 19 4 Aug 6 53% Jan 9
Do pref
3,750 5534 Sep 28 66 Jan 9
Rutland, pret
30 Aug 11 72 Jan 28
Qt. Joseph &Gr'd Island.
7 Oct 1 15 4 Jan 2
i-T Do
Oct 12 58 Jan 5
Istpref
"'ioo 32
Do 2d pref
13 Oct 1 24 79 Jan 19

174 Mo. Kansas

16
34

3334

3334

ctf.A

Nashville. ..
i\/I auhattan
Eievateii
i'Aotrop. Secur., sub. rec.
103410434 Metropolitan Street
18
13 Met. West Side El. (Chic.)
•314 56
Do pref

4

104

934

pref

WorthcfeDeu. C.stiup.
Great Northern, pref

iVc.Ft.S.<feM.,tr. cts. pfd
1834 Kan-sas City So. vot. tr. ..
32
Do pief. vot, tr. ctfs.

304

•514 56

120

Terre Haute..

65

•10
•40
25
90

60

&

Evansv.

30

1734

"•8""l6"
-32
'11

Do

L.

54

<fc Ft. Dodi^e.
tr. ctfs
pref. vot. tr. ctfs.

Detroit South, vot.

Do

i',750

1,100

18% i-owa Central
33 4
Do pref.
I7"anawha& Michigan..

•20
64

30
64
18
30
20
45
24
95

iOO
00
100
J

pref

Chicago Union Traction.

Ft.

T64"ii"

10
•ll5
43", -42
82
90

20 'e
57
88
*12
47 Hi
•80 110
*50Hi 54
1L7 118
15 20
76

Paul.

"A"

4 j).

Des Moines

12%
494

49

274

1034

193b
II6I4

"B"..

825
200

14

71%

110

12

114

125

90
38

Do

6,625

p. 0. tlobentures
.
p. c. pref.

194 194

"70""

*16

8sHi

5

i'o'd

&

•16

17

4

Do pref
Cleve. Cm. Chlo. <fc St. L.
Do pref
Colorarto <fe So., vot. trusi
Do Istpf. vot. Ir. cfs.
Do 2it pf vot. tr. ctf s.

•100

14

1378
934

17

lil(>3

lOOshare lots

"1

Qnliicy..

4 Chicago Temi'l Transfer.

•1

484 484
184 1834

&

9

16

'"70"

Burl

124
180

8»4

6

110
1134 12

it
i>ref

Chic. Rock Isl'il <fc Pacitic
Oni.
Glue. St. P. Minn.
Do pref

164

100

Do
Do
Do

170

160

1,330

5,730
29,175
2,910

CliioaKo.fc Kaat. 111., prof.
CliioaKO '*real Western..

2534

'120

83,

no

41384 CliicaRO

15541584

73',7V6

<fc Ohio
Alton

Cliica-to

•80
84
63 4 63 4

124
180

84

01

,>-

Xew

2434

200
118

Pittsb'j?.

lanailian Pacitio
V -anada SoiUluTii
Coiilral of
Jersey...

Cluvsapeake

135

*

57S
50,680

/^

28% 304
62

84
63
26

5,028
96,115

],i-o(

149 150
150 150
Plelawaretfe Hudson
2304 230 4 2304 232 l-'elaw. Lack. <b We„st'n.
194 1934 Denver* Rio Grande
18% 19 4
664 6534 06 4 67 4 68
Do pref

193»

90

til

•1S3
118

1434

Santii Fe. I67,il:;

1834

56
88

"b'e"

1207,.

•61

'US

*1034
26'8
65»8

193m93'4 193

"•8"'

10

934

54

22
57

62

89
•42Ha 44
•80 110
•62
67
1173»118
•16
20
•75
78

\

10268 103

23
110

•88

61

154
29 4
24 4
62

•120
•160

1)0

&

nmiiilo Koch.

1023, 10334

•55

1976
5GH2
8918
42H2

127
141

•li:>

122 4

I0414

100

19Hj

30%

4

77 >4

60
194

2OI4
56>«

1

hant/e lor Year

On OasU

Heek

<«i Ohio
l> no prof
87
334'nrooklvii RftDiil Transit..

974 9934
964 97
129 41304 13041324
754 75 -v 76 4 77

110

193*
66>4

sst^i

87

11641184 lis

•SO
63

Atch. ToDOkn

724 'y\\ Baltimore

127

14»8

(i()%

ST

•1224141
61 «8

AAimArlmr
Do prot

7;S34

3

149

62

32

964 974
130 1304
754 77

•52
•193

213*,

184

•24
•90

60

•100

20
22 Hj 22 H.
105 •100
•52
60
•193
194

4

lO^e

33 Hi 34
87H!

!-7'.

7 2 •'8

•86
30
'115

0'

t/if

Sharfu

23134 23134

•35
•160

165
77

75V

164

37

66
4734

96^ 97 Hi
12934 130 Hi

34 >4

20
20
115Hill6

2734

•60
70
•70
78
l28Hil28Hi
-32
•20
63 Hi
•17Hi
31
•10
•40
•24
90

150

74

12

•65h
164
77

1834

•15
55

16
68 Hi 69
8
•7H3
26*8

48

Hi

•50
60
95 H; 96H!
129 130
74Hj

1134

•14

9

16

M034

123
180

"70 4 "714
110

66

65 Hi 66
•14

75 Hi
102 103 Hi lo3
-15
•15
22
-50
•50
57
10 Hi
lo^e 1034
lOHi
158 •115 130 *115
43'4
41
43H>
•80
80
90
yo
53
63
54
55
•116
118Hj 116 116
76
103 Hi
18
67

34
87 Hz 88^4
•86
90
37

45

84

IIH2

8^4

•29
•57
l«4%
87 4

62
64

264 24

100

I7I4

30
63
•I714 18
•30
31Hi
•10
20
•40
•25
•90

129'4 1301,

102 Hj
18
•50
•10

77

3012 32

96 Hi 97 14
75-'8

70

1271^129

•32 Hi
•20
•62
18

IS^TJ

lOH,

24

S"-,

"70"

11

32
S)

Sales

KnilroiidM.

134^8 136;'8 134'»,135'„
a70 171 •170 172
155 165
165 4 155 4

•120
•150

123
ISO

•69 »a 71^ 69=8"70'" "70"
110 •100 110 •100 110

•47

•29
•57
63
87

STOCKS
TORK STOCK

EXOHAXtJK

Hi

<ict

is'i"

•10i>

n»8

1434

•80
84
63 4 63 4

8I4

4I4

15

29
29 4
28 4
24
23 4 24 »8
62
62 4 62 4
•183 200
-183 200
•110 120 110 120
14^8

>fE-W

»ww„
Oct.

314
31 Hi 32*4
*|oo
115 127
"105 107
•
• 1 22 4 1 11
144
*
llfii-jllDV, il7»4' Wi'C, 116«8ll!'H; Il5»8ll734
•61
(•2
614 6234
6J
•lil-^ 61 'g •61
•119 154
•150 154
•If.O
155 •15(» 104
•.i>^

^'K/(^ ^•'*

Wednesday

Ttifsdaii
Oct.

35
62

aM>

Texas

pref

1034
1434

79 J'ly
5205 Jan
131
35

J'ly

Aug
954 J 'UQ
904 J'ne
5134 Aug

19834 Sep'
20034 Sop
271 Apr

274 4 Apr
206 Sep

1704Apr
Apr
247b Aug

210

Sep

44
23
60

Apr
Apr
Nov 108% Aug

Jan

Mai

93
118 Jan 124 4 Sep
14 4 Jan 3534 J'ly
594 Jan 79 4 Aug
28 Jan 53^8 Sep
153 4 Nov 184 4 Jan
231 Nov 297 Feb
354 Dec 5134 Aug
86 4 Dec 9634 Aug
35 Dec 53% J'ly
13 FeV 25 Sep
26 Dec 484 Sep
75 J'ne 97 Sep
10 Jan 24 Aug

18% Jan
28% Dec
604 Dec
414 Dec
Mai

50
82
30

May
Jan

1814 Mar
Jan

70

9 Jan
66 Jan
81 4 Jan
137 Jan

354 Bee

65 Nov
33 7^ Jan
75 Dec
19 Jan

Jan

44

Apr
44% Jan
3534

Jan
Jan

7534
6334

74% Mar
10434 Feb
67 4 Deo
203 Dec
90 May
29 4 Oct
106 Aug
983g Dec
173 4 Aug
5134 Aug
90% Apt
50 4 Aug
88 Aug
39 Aug
6234 Apr

13 Jan 41 Sep
45 Jan 84 Apr
40 Dec 71 4 Jan
120 Oct 138 Feb
325 Apr 340 Apr
72 4 Not 9178 Ml^y
1024Jan 159 4 Ana
12s Mar 158 Nov

1094May 1344J'ly

Feb
Jan
Mar
20% Dec 31 4 Mar
^150 Mar 192 Apr
Oct 174
43

35
35
89

1

Dec

Mar

9134

Apr
Apr
Nov

Jan 115

105

1184Jan
364 Jan

12734

84

90 Jan 139 Sep
22 4 Dec 3534 Sep
51 Jan 6934 Sep
9634 Mar 125 4 Sep
80 Jan 122 Apr

Dec

3134

46%M^

Nov 168^8 Jan
Nov 57% Aug
1104 Nov 1244 Jan
80 Nov 100 Aug
209 4 Jan 255 Apr
254 Dec 37%sep'
147
40

Jan
Feb

63
90

8O34 Oct
J'ly
814 Sep'

98

65 Dec
1004 Jan 106 Mm
72 4 Dec 8434 Sep

147 Jan 170 Sep
30 Nov 474 Apr
71 Feb 85 4
80 Ma> 93 Sep
80 4 Jan 105 4 Sep
113 Mar 128 May
524 Mar 78 4 Sep
79 78 Mar 904 Sep
60 Jan 8078 Se»^
33 4 Dec 504 Deo
71 Nov 85 4 Not
644 Dec 125 Apr
10 Dec 244 Aug
4934 Dec 81 4 Sep
244 Nov 42 Sep

S^

BANKS ANU TRUST COMi^ANIES— BROKERS' QUOTATIONS
Banks
NKW YORK
America

^1

...

Bnaks

.Bid

520

AmerExch.. 210
Astor

Ask City
540
225
1000
380
150

750
Bowerj-li .... 350
Bulch'sifc Dr 140
Central
160
167
Century^,
175
Chase
;uo
Chatliam
310 320
ChelseaExc*
Chemical
4<;ou 4250
Citizen.s'
"

1.50

Bid

Ask

Bid

Banks

f260 t265 llthStreetll.
Colonial II ... 405
Fourth
Columbia .. 375
Gallatin
Commerce. .& t214 f215 4 Gansevoortli
Consoll<late<l 170
GarHeld
180
C'ruExclige^ 350
German Am^'
Ea.st Kiver.. 150
German Ex!^
Equitable ... tlOo
Germaniali ..
Federal Ij
Greenwich
HOO
1|

"i

Fidehiyli
Fifth AVeli
Fifth
First

185

HamiUoiili

.noo 4100
375
600

Hanover
Irao

&

Irvin<;

..

Ask

300
175

390
140
500
150
400
600
hM)i)

206

ieo

310

170
.500

550
525

220

2.^0

Trad.

Banks

Bid

Jefferson^... 140

Leather Mfr.
Liberty
Lincoln
Manhattanll.

Market &Ful

M exilian ics'

.

Mecii & Tra"
Mercantile ..
-Mercii Exch.
ilerciiants'..
Metro p new;
-Mt Morris"..

285
573
1000
300
225
t242
140
200
160
170
100
220

Nassauil

1050
330
250

Bid

Banks
MutuaW..
.

Ask

180

190

500 550
1500
220
t277

150

19tli Wardv. 115
North .\mer- J 05

230
170

Xortlurii
Oneulal'u

t

130

210

125

230
200
Park (new).. 400
Peopie'sl
270

210

a Ex

100

Seaboard
Secomi
Shoe <fc Leili.

450
170
275
600
650
150

StateTj
34tl) Slceet..

210

Plazal)

Prod Exchll
liiversideH

.

..

iso"
650
170

7ii()

215'

12th Warilli. 125
120

23<i Wardi'..

Pacific'

JOU
240

Bid \A»IC
110

Banks
Phentx

275

New Amster
New York Co
N Y Nat Ex.
New York...

Bid anu aakea pnces; no siies were mile on cms day. J 1j3.s3 iiiaa lOJ sii.vre.s. i i^s n^ju.s.
State banks,
Sale at Stock Exchan ge or at auction this ween, s rru.« Co. certiticates.
h Assessment pile*
-|

1

Ask
150

Union Excli^
.300

dividend and

United
riglils.

90
b

100

New stock.

Stock Record— Concluded— Page 2

1210

STOCKS— JijeSSST AND LOWKST SALK PRICES
Monday

Saturday
OeU 10

T^uesday

Oct 13

Oct.

13

Wednesday
OeL 14

Thursday
Oct. 15

•60

•60

STOCKS

fYiday
OeU IS

EXCHANGE

St.

•60
44

•60

70
44V, 44Si

146

100

12»4

r->»,

SO

SO

'145
I2V1

17>«

17^8
li't

•60
70
44 V 44->4
'145
155

29ap
40>e
17V,

69 H»

72%

39S8

n\

17"';
•21

17a<

•23

26
84^8 85
159

16V

"dsK

69»K

84 >« S4',
•12
13
48 <n 48>-.

•174

18>-i

29 »s 30 >,
•14'a

16

42

42

22^9

22>.j

•15
»35

15>2

37

•223

230

35Si

37><

J73»«
2938

73^4

23 Va 24

•80
•24
•175

29at,

90
30
190

•6^

9

•2»4

S-v

•9

13

iiht
18»4
•9>9

•28

4HJ

18 V
1034

34 H.
13
79

13
79

•15

16
40>« 41

87

87

•90 110
•79 '8 90
lOSa* 109>,

116 116
12214! 22 ><
•7»4

•68

8 Si

25

100
20

11

68'%

70V

84
10
47

12

230

•223

3534
37
20 1* 22»^
20V
63
71»4
65 V
•27^8 30
28
•80
'80
90
•24
•24
SO
'175 185
•175
•6
9
•6V>
213

•9
•9
•25

5

19V

llHj

12=8

78V

•3
15

39 >4
86 >4
107 V
ill5
7^,

40 >«

33
10
170
99
22

41
23

15V
36 V

•223

230

33% 36%
18V 213,
61V 06
29V •29% 30
373?

22V
67

90
30
186

90
30
175

•80
•24
{175

*6V
*2V

3

3V

8

3V

10

{4V

4% 6
5V
20
19 V {20

1134

•9

9

15

10
33

10

'26

30

11%

12

71
•3
•14

12

70V

2

•7

734

185
14

280

74
70
4
4
15
16
•14V
40
3934 41
39 V
87
86 V 87
84 V
•90 103
•90
•79f8 85
•79%
108^8 1 07 's 109 V 108%
115 •116 118 •116
{120 V

67 V 68
62
64 V

•10 "a 12
•170 172 Hi
•99
99 Hi

29%
13V

•9
19
49
•26

103,

34 V

73

5

2V

2»4

10

4^1
19'8

•

17

•'8

8V

66
70
63 V 64
•176 185

6V

47
25

110
90

110%
118
120 V

-5

8V
63%
72

62
63
•176

186

5V

6V

•5V

60
35

4
15

40%
86 V

6V

•47

....

28V 29V

33

90

•24H» 25H2
;

76
^20
144

75'«

22
144

•llHi 12Hi
61^8 613^
•29
32 Hj

•33

33 Hi
•70
75
•7
10
•36
33
•97HS101
•1234

UVi

•80 Hj 83
•111 117
7014

70>4

•19
20
89 H» 90%
31»a

8>3

s=,

bS^

68
13H»

•67

31W,

75
216
18
82

76
•210
•17
•76

Hj

•24
•68

m

V3\
72
30
71

IV

28»a 29»R

•24

27

10
171

6^
76
•6

•87
•10
36

110
6^4

76
6Hi

38

•29
33

70

30
33
70

7

7

12 V

2934

12

171V
98%

98

24

•23V 25

2978

32 V
75
"•6V 10
35
35V
•98V 101

1234

70
19
89

13

•70

72

73
9034

29V 31V
71V 743,

29 V

2S)3^

75% 76V

•18V 19V
90
90%

212
17
-"

72

7V

7^8

*'%

IV

30

29
70
209
•17
•72

70V 71V
16V

10

36V
{99% 99V
116
70

18V 19

72

•7

34

•110
70

8934

212

30
33
75

14

19V

210 210
16V 17
72 V 76
7V 8

•28
*31
•65

12V •12

8934

70V

209
19
82

7%

7V

56
67V 64V 56V
64«B
14
14
14
1334 14V
14V
•67V 70V {67% 67% •67V 70
24
24 V
23
23 V
22V 23V
68
68
70
{65 V 65 V •66
57»8

•1

IV
27V 28V

•24

27

100
634

100
6^8

76'^

76

5V

6

37
10
36

35

14 >4

14^8

59

61'(,

12V IS^e
57V 69%
17V 18

•200 210
•81 Hj 82
134 134
•162H2175

99V

80
80V 80V 76
105 112V 112V113

36Hi
9

17>v

170

•31

363,
35
•97 V 101

lOHi

17Hj

90

•9
17034

10

73 V
73V 73V
21V *20V 21V
140'^ 141V143
139 141
IIV IIV
11
10 V 10%
60
62
{62V 62V 60V 60V

20V 21V

36

•89 "a 90

10
170
99
23 V
73
21
140
11

99
24 H
73V 75

65V 68
•100

Do

323,

Sl"^

pref

40 V 42 V Southern Paclflo Co
17 V 18V SouthernT.tr. cfa. stmped
Do pref.
do
71V 73 V

M.

*

O. stock

26% 28 'g
65

•200
82
133

210

•200

•162V175

8
•35

37

H

37

13V
58%

1234
5734

60

18%

90

220

1834

•85
•16

90
21

200

220

80V 81%

*81V 82

130
161

100

6%
5V 5%
36% 36%

18V 18V

•85

100

6%

12V 13V

86
21

27

73 V 75 V

36% 37
lOV
57 V

•24

65

100 106
6% 7
75 V 7578
5% 5%
•9
•35

1
273,

26V

27

'

{86
•16

82
133

{1

134
160

133

162V

134

tr.

ctfs...

<fe

20

'

ToL

24

24 V

81% 83%

63% 69%
84
10

Toledo Railways

1634

69 V

72

10

Y.).

Do

pref. vot^ tr. ctfs.

Do

pref

Twm Clly Rapid Transit.

84% 86

84
10

St. L.

,

& Llpht
& W. V. tr. otts

20
1634

•

24
24% {24
81V 80 V 80 V

84
10
47

C.AE.I.comstocktrctfs
SI. L1OUI8 Southwestern..

10

Union
Do

Pacillo

pref

UnitRy8lnv*toI SanFran

Do pref
{46V 40V •46V 47V
17
17% 18'. W^abash
17
Do pref
28% 29% 29 V 30%
13 V 13V •13V 14V WTieciinsr
Lake Erie
•40 V 42
Do Istpref
41V 43
23
Do 2d pref
20 V 20 V •20
16% 15 V 15V 16 Wisconsin Cent. v. tr. cfs.
Do pref. vot. tr. ctfs.
34
34 V
34H> 36 V
,

,

<fc

•223

Adams

&

Hanye

Year iyo3

basis oHUU-share lots

Lowest

56
68

J'ly25
Auglt-

42 V Sep 29
200 148 V Sep '28
3,010 12 Aug 6
1,460 24 --VuglO
44,700 38% Sep 28
46,91.'
16 V Oct 12
18,545 69 V Oct 12
60 85 J'nelO
6,100 20V-'i.uglO
300 100 Oct 14
10(1
17 V Oct 10
400 15 Sep 21
1,290 24 Sep 29
6,140 79 Oct 1
155 J'ue
189,275 6534 Aug 8
2,068 83VAuglO
700 10 Oct 14
677 36 J'ly27
5,800 16% Oct 12
14,950 27 V Sep 28
800 12 J'lv24
1,600 41 Oct 12
75U 20 Sep 2e
4,535 14VOct 14
2,100 34 Sep 28
l,99u

P;icific
22% 2SV 'pexas
21V 22
lOOV lOOV •lOOVlOo i- hird Avenue (N.

2234

24

159
'69 V 70
S3'8 84

3539

•47

1234

30 V

V 397,
16% 17
70V 71

JCaiiye /or

On

Highest

Lowest

90 V Feb 24
88 Feb 20
78 Fe'b24
170 J'ly 15
30 Jan
66

Jan

224

230

5534

39
SO

81V Sep
41% Aug
98 V Apr

Auff

Sep

Nov

May 93

Dec 5434 Sep
Jan 134 Feb
32 V Nov 38 Sep
18 V Jan 33 V Oct;
35 Jan 4934 Sep
107 Jan 129 Aug
156V Aug 159V Feb
93 V Dec 113 V Aug

37% Jan 12
31% Jan 9
48 Jan 8
122 V Jan 23
159 Jan 12

104% Jan 9
95 V Fob 11
22% Jan 13
65 V
27 V
62
38 V
29 V
56 V

80% J'ly

Dec
Dec
8934 Dec

90
37
128% Jan 2 122

43% Feb 10

85 V J'ly
90 J'ly

24 V Dec

66
28

96 Feb 9
96 V Mar 3

3234

Jau

55 V Mai

7

64VJau

Highest

77 Dec
65 V Dec

68VMarl9
36% Jan 9

86% Mar 96 Aug
20 Dec 24% Oct
60 Dec 66 Nov
2134 Jan
38% Sep
37 Dec 54 V Sep
17 Jan 30 V Sep
49 V Jan 66 Apr
28 Jan 42% Sep
19%Jan 31 Aug

6

Feb 27
Feb 24
Feb 9
Mav22
Fob 10
Feb
Feb

39 V Jan

67%Auff

iHiscell

154 {204 Jan 30 235 Feb 11
malganiated Copper... 3!16,6(>1 33% Oct 15 75%Marl2
33% 35% 34% 38%
2034
1734 Oct 16 4134 Jan 19
1734 19%
32,960
18%
American Car <fe Foundry
6534
63
13,734 61V Oct 14 93 Jan 6
6I34 62V
Do pref
28 American Cotton Oil
600 25 V Aug 6 46VFeb20
27% 27% 28
80 90 {90 90
10 82 J']y27 98 Feb 13
Do pref
"24
•24
30
30 American Dist.Telegrapli
25 Sep 21 41V Jan 2
215 171 AuglO 235 Feb
{180 180 {179 180 American Express
160
6 J'ly29 29% Jan
•6V 8 .American Qrass Twine ..
*6V 10
600
2VOct 12 llVJan
2% 2% Amer Hide <& Leather
2V 2V
10
10
100
Oct
10
De prof
37% Jan
5
4 Oct 8 1134 Jan
2,640
5% American Ice
19
19
3,230 16 V Oct
19% 20
Do pref
42% Jan 30
520
6 J'ly26 1934 Jan 6
*8V 10% •8V 10% American Linseed
215 25 J'ly25 48 V Jan 6
28
28
26
{26
Do pref
11
9,150 lOVOct 15 31% Feb 17
lOV
13V American Locomotive...
68
73
9,026 67 V Oct 15 9534 Feb 17
67 V 70
Do pref
•2
•2
100
2 V Mario
4
4 American Malting
6% Feb 26
•15
•14% 15
300 14V Sep 28 24 V Jan 10
16
Do pref
37% 39V 36*4 40V Amer. Sn»-lt'g A Refin'g. 63,015 36*4 Oct 16 52% Feb 17
9,976 80% Oct 15 99 V Feb 16
85%
Do pref
80V 84V 81
•90 110 American Snoff
•90 110
90 Aug 5 126 Mar 4
•79% 90
•79% 90
80 Sep 26 98% Jan 20
Do pref
108 V 109% 109 V 112 American Sugar Refining 38,095 107% Oct 12 134% Jan 8
412 116 Aug 6 122 Feb 13
116%116% 116 V 117%
Do pref
•12034 122 V
144 117 V Oct 8 169 Feb 18
Amer. Teleph. <fc Teleg...
*6
-634
734 Oct 12 14%Feb25
100
8
American
Woolen
8Hj
•60
400 65 Oct 15 80 Jan 31
65
66
68
Do pref
a;6lV 66 Anaconda Copper
5,135 59% Oct 15 125VFeb25
59% 62
650 170 Sep 24 225 Jan 21
175V177 •175 185 Brooklyn Union Gas.,
*4
280
6
5 Oct 15 16%Jau29
5
runsw.
Dock
6V
& C.Imp't
•47
•47
40 AuglO 66. Jan 6
Buttenck Co
9',690 25
Oct 13 82 V Jan 6
26-V 29 V CColorado Fuelife Iron...
26V 27
•60
•60
150 90 AuglO 122 Jan 3
84
80
> Do pref
10
10
lOV IIV CoL <fe Hock. Coal & Iron. 1,200 10 Oct 12 22% Feb 18
171 174 V Consolidated Gas (N. Y.).
2,165 164 AuglO 222 Jan
170V171
2,622 9434 .^.ug 6 119 Jan 2
98
98 Continental Tobacco, pref
98V 98
24
3,530 22 Oct 12 35 Mar23
23 V 23V
24 V Corn Products
•72
74
2,251 73 Oct 13 86% Jan 19
75
74V
Do pref
1,224 20 J'ly24 3434 Jan
•20V 21V 21V 213, Distillers Secnrit's Corp.
•140 143
143 147 General Electric
2,825 136 Sep 28 204 Feb 16
2,236
9 J'ly28 19% Jan 5
10% lOV 11% 11% International Paper
61%
2,333 60 Oct 12 74V Feb 6
60% 60% 61
Do pref
•28
260 29 Oct 6 73 Jan 19
30
{30% 30V International Power
31 32 •31 32 Intemat'l Steam Pomp..
200 33 Oct 12 46 V May 8
•65
*63
200 70 Oct 12 89 V Jan 12
75
75
Do pref
•6%
200
10
10
6VSep28 13 Mayl3
Manhattam
Beach
•6V
3434
34
34 National Bisctiit........
4,570 32 Oct 15 47% Feb 17
32
1,047 94 Oct 16 106%Mayll
95% 97V 94
95 V
Do pref
2, -2 63
113* 12V National Lead.............
1 1 V Oct 16 29 V Feb 6
11% 12
•75
75
75
HO
1,898 75 Oct 15 95 Feb 10
Do pref
'105 113
114 114 New York Air Brake
1,277 105 Oct 12 177 Jan 2
-68
7234 7234 North American Co., new
1,085 68 Sep 28 124 V Jan 7
74
900 17 Aug 5 4234 Jan 7
19
19 V Pacific MaU
'18V 19
89% 90
89% 92 V
eop. Gas-L.<fc C. (Chic.) 11,3 L5 8734 Sep 28 108% Feb 10
28
29
14,610 28 Oct 15 6534 Jan 26
29 V 31 Pressed Steel Car
67
71
69
68
4,836 67 Oct 15 95 Feb 20
Do pref
'207 210
209 210% Pullman Company
766 196 J'ly 15 23534 Jan 14
18
18
1,200 16 Sep 25 37 Feb 9
Steel
I>
all
way
Spring...
16V 16V
72 82 XXiDo pref.
620 72 Oct 13 90 Feb 26
'71V 82
7V 7V
7V 8% Republic Iron & Steel ... 5,975 7% Oct 12 22% Feb 18
13,490 54 V Oct 14 80% Feb 18
64% 5534 55 V 57
Do pref
•13
•13
16
15
1.420 12 J'ly 25 30 Feb 16
Rubber Goods Mfg
60 60 J'ly 25 84 V Feb 17
{68
68
Do pref
*67V 70
22V 22V 22% 25 Sloss-SIielHeld St. & Iron 1,500 22V Oct 15 72 Feb 25
•66
•66
125 68 Oct 12 97VFebl8
68
68
Do pref
3, Sep 19
260
6 V Feb 11
1
^8
Standard Rope & Twine..
^6
•'s
27
29 V Tenn. Coal, Iron & RR... 21.757 26V Oct 16 68% Mar21
26V 27
•24
•24
22 AuglO 4034 Jan 7
27
27
Texas Pacific Land Trust
4V J'ly 25 15 Jan 19
Union Bag <& Paper
610 66 Oct 13 7934 Jan 8
Do pref
6 Sep 3 15 Feb20
U. S. Cast 1. Pipe & Foun.
40 Augl9 65 Feb25
Do pref
•100 105 {100 100 United States Express...
330 95 Aug 8 150V Feb 4
6 Sep 28 16 < Feb 11
5,480
63,
6% 634 United States Leather
J'^
9,770 71 V Oct 15 9634 Mayl2
72
75 V
Do pref
71V 73
5V 6V
5V 53, U S Realty&Construotion 2,157 6% Oct 12 28 V Jan 2
3,301 36% Sep 11 73 JajQ 2
35 V 36%
35 V 36 V
Do pref
7 J'ly 27 19%FeblO
9'-, United States Rubber
1,04.5
734
9
8
930 30% J'ly 27 58 Feb 10
36
3534 3534
35
Do pref
1234 13
213,118 12 V Oct 12 39% Feb 5
13% 14 United States Steel
446,467 57 V Oct 13 8934 Jan 7
5734 68V
Do pref
58V 62
3,775 17 V Sep 28 66% Feb 19
Chem..
20
Virginia-Carolina
18%
18V 18V
210 80 Aug 4 128VFebl8
85
90
90
90
Do pref
•16
17 Sep 28 39% Feb 25
16
21
21 Virginia I ron Coal & Coke
23 J'ly 22 3334 Jan 9
Vulcan Detinning
70
Sep 14 81 Jan 19
pref
Do
22 4191 J'lyl4 249 V Feb 6
{200 203 200 226
Wells, Fargo & Co
2,120 80 V Sep 28 93 Jan 14
est'n Union Tele'gpli
80 V 81V
80V 81
•130 135
1,210 130 Oct 13 221 Jan 7
136 138 West'gb'seElc&Mfgassen
215 160 Sep 19 224 Jan 7
•160
Do Istpref
{160 160
{223

lor Jhrevious

Year (1902)

Week

LJfcSFr.JPM&Coctts

Indiistriiil

223

176

1234

30
39

90

47V 47V
16»«
17V 16=8 17
•29
28'8 2 9
29V
14V U>s 1334 14V
13V
41
41V 41V 41V 41
23
20'ii 22V
{23
{23
I6I9 15»8
15
15V 14V
36^4 S6V
35»4 353,
34

...

13V
8O34

40 V

81V 83
r

16»5
28«8

•46
38>4

24

•12
13
47'% 48

177

150

01

the

Shares

Do l8t pref
Bo 2d pref

70

44V 45V
149 149
12% 14

•Vev 17V "l6% 16% •15V 17

25

84
169
"
6734 69 V
84',
84

78
66
177

63 >4

.

17'*
17K,

150

155

{90
22
100

'60

70

43% 44%

16% 17V
70V 71%

173g

22 V 2234
100
20

82

^

403j,

70V 71V

21»4 23
22 >9 22'-i
'100 110
•100 110
17>4
17»4

143
13
30
39

30

30

70

44V 44V

13V 13V

12Wi

3S»4
I6H1

29

89^8 4oaK

73

70

44
160

Sales

XE'W YORK STOCK

[Vol. Lxxvn.

{198 J'ly {240 Oct
53 Nov 79 Feb
28V Apr 37% Oct
85% Jan 93% Oct

Express

30VJan

834

34

1 H

Dec
Dec

9 V J'ly

32 J'ly
14 Dec
39 V Dec
23 V Dec
89 Jan

HV

Apr

6

Jan

1334

Oct

43 V Sep

31% Jan
67 Jan
28 Apr
58 Mar
36% Apr
100 V Apr
7 V .May

21 Jan 29 Sep
37 Nov 49% May
87 V Nov lOOVJ'ne
40VJ%n 136 Oct
85 Jan 101 Oct
113 Nov 135% Mar
115 Jan 122 Aug
I6O34 Jan 186 Apr
12

73
80
210

,

-^

5734

86 Feb 99 V Apr
32 V Jan 42% May
210 Jan 266 Aug
27 Dec 62 V Aug

Dec 17% Jan
Apr 80 V Sep
Dec 146 Feb

Jan 253 Aug
7% Dec 14% Apr
J'ne 53 Sep
7334 Aug llOVApr
{130 Jan {140 Mar
14% Jan 24% Oct
41

Dec 23034 Apr
Dec 126V J'ue
2534 Dec 38% Mar
79% Dec 90 Mar
27 Dec 33 Deo

205
114

Apr
16V Dec 23% Mar
Dec 77 V Jan
Dec 199 Apr
Dec 67% Mar

0170V Oct 334

70
49
40
82
9

40
10134

Deo 95 Oct
Oct 19 Apr
Nov 53% Mar
Dec 109 V Apr

15 V Jan

Sep
Oct

32

78%Jan 96
Mar 196

Apr

Jan 134

Sep

148
88
37

Not 49% Mar
98% Jan 109 V Sep
39

823,

215
24
80

Jan 63 V Oct
Feb 96 voce
Jan 250 Apr
Apr 38 V Sep

Apr 90 V Oct
16% Jan 2434 Sep
68 Jan 83% Sep
17V Feb 25% Apr
63 J'ly 74% Mar

29 V Jan

80V Ma\

83 Sep
95 V Sep

8% Apr
74% Apr
44 V Feb
11 V Nov 18 V Apr
72 Jan 85 Apr
10 V May 17 Oct>
42 May 59 Sep
97 Jan 160 Aug
10 V Dec 15 V Sep
79% Jan 91V Sep
20 Nov 32 Oct
64 V Nov 75 V Oct
14 Jan 19% Oct
49Vl'ec 64 Mar
2934 Dec 4634 Jan
79 Dec 9734 Jan
64 Dec 76% Apr
120 Dec 134% Sep
Jan
49 V Dec
35 Jan
4

29 V Nov 33 V Not
78V Oct 81V Deo
{186 Jan {256 Aug
8434 J'ly 97 V Aug
169 V Jan 233 Sep
180 Jan 234 Apr

BANKS AND TRUST COMPANIES— BROKERS QUOTATIONS
'

Banks

Bid

7anck11
210
Wa«h.H'hU11 200
WeslSideTu. 600
Torkvilleli .. 376

Ask

Bid

Banks

A-tlanticU... las
Boroughl).... 126

BBOOKLT7*
Manufactrs'. 350
MftClianics^l
210
Merchants'.. 115
Nassau
360
Nat City
305
North Sidell. 215
Pef)ple'8li
215
17 th Wardli. 140

BroaflwayTu. 300
Brooklyn T, .. 135
Cou'yI&BBI 140

Stnyv'tHts', 173
Unlonii
160

BBOOKLTN

.

Spragne

210V

A*k

Trast Coa.

Bid

CITY
Bankers' Tr. 270

Atk

Trust Go's

Bid

A Ik

N. Y.

360
220

Bowl'gGreen 200

290
212

Broa<lwayTr. 150

155

Exchange Tr
Farm Lo&Trt 1450 V
590
Fifth Ave Tr
Guaranty Tr 675 710
Guardian Tr 155

310
326

Knick'rb'k'r 890
Lincoln Tr... 360
McV'Ck'rRty 225

C'lR'tyU&Tr 400
316
220

Central Tr'st tl930

CityTmat...

300
Commonw'th 60
Colonial

Continental. 660
Eastern Tr.. 130
Empire State 160
Equitable Tr 675

70

Manhattan
140
170
700

..

900
375
230

500

Mercantile .. 1000 1050
Merchants'.. 220 240
Metropolitan 575

Trust Go's
MortonTrust
Mut.AUiance
N Y Life&Tr

N YSec&Tr
North Amer.

Real Est Tr't
StandardTr't

Tr Co of Am.
Union Trust
US.Mtg.feTr
Unit States

.

Bid
875
240
1000
1150
260
390
326
225
1360
400
1525
210
400

Ask

Trust Co'A Bid A*k
200 220
Windsor

BBOOKiYN
260
410
350
228
1450

Brooklyn Tr 400
190
Flat bush
Franklin
300
Hamilton
400
Kings Co

4S0
200
365

L

306
265
375
270

.

Isl

L&Tr.

Nassau

255

350
People's
Wiliiamsb'g. 260

Van N'llenTr
226
Washington.
WaUabout^ 120
370
• Bid and asked prices; no sales on this day. { Less than 100 sriiires.
d J. P. Morgan <fc Co. certificates.
f Ki rights,
t Sale at Stock Exchange or at auction thia week,
o Ex stock dividend, t Trust CkJ. certificates. 'J Banks marked witU a paragraph

Flr«l

!

260

.....ft
.

....«

_^,«

(H)

are State DanKS

N

V

;

ITew York Stock Exchange— Bond Record, Friday, Weekly and Yearly
OCCUI'VING FOUU
3

BOND!!>

WmICs

I'rict

STOCK EXCHANGE
Week Endino October Hi

October 16

Last Sal*

Atk Low

Bid

5
2a«
o

V
V
V
U
V
V
U
U
U
U
U
U

"U

Q.J
UlDoO Q-J
S'28 0ousol coupon
S '2» oousol TOg amaU. .dVJ'M y-J
S '2a ouusulcoup8iiiaU.<ilt>3U
icli>18 y-K
S 3» renisteroU
fcl"J18 y-K
S 3s coupou
S 3s rex small bonds. .ArlKLS q-hS 3s cou siiiall bonds. .tllUS y-K
/H907 y-J
S 48 regisUsred
AliK)? y-J
S4soouiiou„
q-F
It*'S 48 registered
li*i
S 4s coupon
1904 <if
S 5s reinstered
1904 q-F
S as coupon

107

»a

108>4

lOoS
UOHj

1074

UIH

UOS^Oct
UOa^

134

135

lom

106

's

10838 108»<
107 J'uo'U'.:
lOOHi Aug'03

llo^j lll<-j

135

lO'i

135
130

Is

iSS^i

JJlgti

1

1103<

09

1

1 1 14

109'4 112
134 '4 130 ".J
13:. 14 137'-

Sep

'03
135'.

1011.. 1(11

u

10138 io3;v

ForelKn Government
to o

ne

lio liar,

96 Hi 98^,
aiii

121
106

121
106

13

10

94
97
93 Hi 94 »4
6\»

12

W

X

im

.b'eeCeutof
J
Ann Arbor ist g 48
/il995 Q-J
Atch T Jc S i'e gen g 43. ..1995 .\-o
tie

1995

KegistereU

Adjustment g4s

.\

/il995
/il995

Slaiiiped

98^2 Sale

91
98 J*
97

89^

.s9''8

,

O

A1995 Xov

Kegisiered

91

Xov
M-N

Chic lb St Louis Isl 63..1915 :vi-s
Atl Knox de Nor Ist g 5s.. 1940 J D
Atlantic Coast Ist g4s./(.1952 M-S
Atlantic & UauT aee South Ky
AUaulic & Yadk aee South Ky
Anstiu & JX
aee Sou Pacitic
Creek <& S aee Mich Cent
Bat
alt lie Ohiopriorlg 3^23.1925 J-J
Kegistured
/tl925 y-J

90h.

75
86 Hi

"S7"saie
108 »2
aoiiSale

,

92H2

6

91

96^4

98 Hi 115
1
97

97 H2 102^8

22

80 Hi 9234

90I4
J'ly'03

81

114H2 0ct '02
9034
90^

"61

82

97
75
84

10208

75
9234

89H! 95

W

_

Gold 43

A194S A-O

M948

Kegistered
Kegistered

pl925 y-F

Kegistered

/il925

Mouou Kiv
Ceu Ohio K

1st gu g 5s. .1919
1st cg4'2S..1930

Beech Creek aee
Seller

&

Bklyu
Bruus

<&
<&

Btiaalo
Bnflalo

NYC

<fc

H

.y-N

J-J

94 >a Sale
88 >4 Sale

93=6

94 H. Jan '03
99 H2 10014
9934 Oct 'Oii
97
97
88 Aug'03
94Hi
rf8>4

94H2

88 w.

63
il'4

"i

91H2

95I4

94
94 Hi
99'4l03H2
98'4l02»8
97 106
91
88
97 H,
94
86 Hj 8934

M-S

114kJ'ne'02
108 Sep '02

lOti

Car aee Illinois Ceut
MontaiLk aee Long 1

West aee Sav Fl &

a Y & Krie
K & P gen g

W

See Erie
58...1937 .U-S

AG

West

&

Southwest See Krie
Butt cfc Susg 1st ref g 4s.<<1951
Kegistered
U1951
Bur Cedar K <fc JVo Ist 5s. 1900
Cou Ist <& col trust g 58.. 1934
Kegistered
1934
CK IF&X 1st gu 03.1921
cfc St L, Ist gu g la
1927
190S
Canada South 1st 5s
2d 58
1913
Kegistered
1913
Carb & Sliawu See 111 Ceut
Carolina Ceut See Seab & Koau
Carthage & Ad aee N V C & H
CedKIal;'<fcN 6e«BCK<fcN
Ceu Braucli U P Ist g 4s. .1948
Ceu Branch Ky Aee Mo Pac
Central Ohio See Balti <fc Ohio
Ceu KK & B of Ga col g 5s 1937
Cent of Ga KK Ist g 5s..j>194o
Registered
pl945
Cousol gold 58
1945
Kegistered
1945
Ist pre! income g 5s
jj1945
2d pref income g 5s
pl945
3d pref income g os
pl945
Chatt Div purmou g 4s. 1951
Mac <fc Nor Div 1st g 58.1946
Mid Ga& AU Div 53
1947
Mobile Div 1st g 58
1940
Cent ot Is' J gen'l gold 58.1987

M

86

105

FA

BaSalo

«97

93%

90i4J'ly'02

1st g 48 gu.. 199s
CI <fc Mah 1st gu gos
1943 J-J
Koch <& Pitts Ist g 0S...1921
Cousol 1st g Os
1922 J-D
Allifc

99^8 Sale

y-J

Conv deb 4s
1911 MS
P J un <fc M Div Ist g 3^181925 M-N

P L K & W Va Sys rel 4sl941
South w Divlstg3'38...1925

93 "fe Sale

W

112

1131^ 113

Oct '03

103 Apr '97
124i4J'ne'03
12538 Jan '03

120
119

B

dt

103

103

Sale

112

II8H2

I2414I28
126

1253

A-O
117
A-O
A-O *106
J-D *97
J-J 103k lOSH!
M-S 10434

MS

103

120H2Mar'03
118 Jan '02
103>8 103H2
105 Oct '03
107 Aug'o3

MU& No IstM

L

6s. ...1910

1913
Istconsol O3
1915
Chic & Northw cons 7a
Extension 48
1880-1920
Kegistered
1886-1926
1987
General gold 3 H28
.«1987
Registered
Sinking fund Os... 1879-1929
Kegistered
1879-1929
Sinking fund 5s. ..1879-1929
1879-1929
Kegistered
1909
Debenture 53
1909
Registered
1921
Debenture 58
1921
Registered
1933
Sinking fund deb 58
Registered
1933
DesMo&Minn Ist 78. .1907
Madison 1st 6s. .1905

MUw&

MU L S

&
&

J-'ne'03

U

104 Hi 107

Registered

H4s
M48

B

1917
1988
1988

92

dih

M

J-J
J-J

M-N

FA

F-A

104 Sep '03
110 Jan '99
10678 108
108
108
98
lOOHiSep'03
96 Hi Sale
9534
96 Hi
84
84 Hi Oct '03
85 Hi J an '03
,100

105 »....
108 "s
110 Sale
110
102 Sale

i'lo"

102

107Hj

106
98
94
83

110
102 Hi
IO4I4

89 Hz
85Hj 85 Hi

Jiiyh

Ao Low

'.'.'.'.'.

lUlHi

100

Sale

80

Sale

UOHilia

115Hi

114'.j 11934

110'...

llli

7934

80

71'4
72H,
H334 Apr'02
10434 Apr '00
9878
987,
9334 93*8
931,

.

97 Hj.
lOOHjSalt
11218
107

106
114

120

HI

lllHj.

1083^
10634

16

7934

22

'7"634"'7'9'«i

HI

.

100
111

.

10434

83 H»

98Hsl01Hi
89 Hi 97
109

Ha

101

109 Is

104%

102 Hi 108 >«

100

100>a

10438 108
113 117^8

lOOH.
J'ly '03

Dec 'Oii
Sep '03

105
12?
113

ll()3a

111

120*8

130Hi
121»8

24 14 13034
108 113's

124''8Sep'03
108 J'ly '03
109 Sep '03
165 Sep '03

109 H2.

Hi

9/14104
92
98

lOO-'aOct '03
130
128Hj
114H2 lUHi

128
115

15

ii'i'" i'l'i"

109 's Aug'03
101 Aug'03
106
106
109HiAug'01
100 J'ly '03

10788.
IOOI4
loo's.

114

II6H1
100 Hi 10034
1

92
92
106 H. Oct '02

71Hi 72H2
OS's
93

lU-iia

iiOHiJ'iy'03
1 10 >.j Aug'03

98 Hi Oct '03
92
103

JliyK

100 Hi 104

115 Hi Sep '03
10138
lOVi
103 Apr'Ol
112 Muy'03

1

10758 11138
166 178
111 111

M«y'03
Oct '03

103

112

Dec '02
Jan '02

114

116HiApr'03

U6Hill6'i

11634 117
Ill's
II6I4

11334 Aug'Oo
111 Hi Sep '03
114 Sep '03
109 Aug'03
137HiJ'ly'99

11334 11858

UO^s
127»8
II708
10534

U2H2II3
ili)^
114=8
112
IIOI4
131^4 Sale

,

Aug'03

116

119=^

10738 Aug'02
183 Feb'03

183

185

10634..,.

105H2

06 '4 108

H2

lUS's.

ii'i"

10714
10258
10412

J'ly '03

13134
132
130'4 134
104HiMay'o3
101 104Hl
10638 Oct '02
96 Hi
97 Is 47 95 Hi 101
103 Nov'98
112 May'03
112 112
llOisllOis
no's May'03
108 Aug'03
106 109HJ
IO634 Mar'03
10634 107 H»
IOOI4 100'4
10378 109
104 Sep '03
104 104
l08i4Sep'03
105 Hi 112
114 Oct '01
114H2ll8'2
114 Hi Aug'03
123 May'Ol

Nov'02
Oct '02
10558 May'03
114
114
128HiSep'03

Sale

114Hil25

142H2Feb'02
l'J858 Aug'03

12858 133 1«

107 '8 Feb '01
109 Sep '03

123

12 15g Aug'03

I22H2

122
101

Hi

7118 Sale

Oct

'03

IOOI4

109 109
I2II4I27H1
120 Hi 127
79 99 108
107 107

101
107 Jan '03
98 Aug'03
9978J'ne'02
99i2J'ly'02
9938J'ne'02
87 Aug'03
7118 222
70
88I4 Jan'03

69 Hi

Sale
,

,

10034

131
127
127

1055sl05<^
10 lUSg 11533
127H,1325a

116'4 0ot '03

102

71
94
90
94

105 '4 105>4
llOH; 113Hj
10978 113H>
112 117
113 113
116 119

106
108

ISO's

101

11234 115

10978 Aug'03
11478 11478
113 May'03

116

97

104
114

11334
117Hs
lllHi

11234 Sep '03
10514 J'ly'03
11234 Sep '03

11278 114
10534

1

111
112
109

116

,

.
.
.

1201s.
73I4

73 H:

95i4 0ct '03

90

Oct

'03

9434

Jan

'03

i'ii

98

98

82 Hi 95
685a 89
88 '4 S'iH
09 Hi 8934
95 14 9838
93
90
9434

9434

105 Hi J'ly '03

105Hil08Ha

129H2Sep'03
131 14 May'03
126 Sep '03
12339 Sep '03

128i2l36»8
13114I37
120 126
123i4l26<%
21
71 Hi 86

73I4

.

73 Hi

on Next I'age.

Street Railway
Met St Ry—fCon^Ref g 482002 A-O

89

Col<Si9thAvl8lgug 58.1993 il-S
Lex Av <fe P F Ist gu g 58 1993 M-S
Third Ave RR con gu 4s 2000 J-J

111
92

Third

117Hil20

-Met

,

/iatiff

00 H. Aug'03

101

48. ..1904

'•2

A-O

.101

1-2858

Ext &

MISCELLANEOUS* BONDsJ-Continued
Street Railway
Brooklyn Rap Tr g 5s
1945
AT Bklyn imp g 6s. .1934
BkCity Isl con 58.1916, 1941
Bk Q Co <fc S con gu g 53.1941
Bklyu Un El Ist g 4-5s.l95o
Kings Co El Ist g 4s
1949
Nassau Elec gu g 48
1951
City & S Ry Bait Ist g 5s. 1922

1

Ashland Div Ist g 0S..1925
Mich DivlstgOs
1924
Convertible deb 5s
1907
16 102 105 H2
Incomes
1911
104Hil08'8 Chic Rock Isl <fe Pac 0S...1917

120 122
I2OH2I2OH2

Coll trust Series

92

Ask Low

100

12938
llOHi

<fe

General gold 4s
Registered

J-D

ma

West let g 6s 1921
Imp 3 fund g 5s 1929

10034 105

1910
1915
N 48
1910
P48
1918
,VI-N
105 12 107 104 Hi J'ly'03
10834
Cliic
R
.2002
I
<fe
Pac
RR
4s.
104Hj
F-A
Resistered
2002
122H2Jan'03
122Hil22Hi
F-.\
Coll trust gold 58
1913
M-N 105 Hi Sale 105
105
DesM <fc Ft D 1st 4s.. ..1905
o4 102 109
M-N
105H2Sep'0]
l8t2Ha8
1905
Oct
80
Extension 4s
66
65 Oct '03
65
1905
Oct "2i'
39 7g
Keok& DesMlst58
25
23
1923
26
25
Oct
Cliic&StL See Atch T & Sa Fe
19
19H2ATig'03
18
27
J-D
92 Aug'02
,Cluc St L, & N O aee lU Cent
J-J i02'
108i4Sep'02
.Cliic St L & Pitts
See Penn Co
J-J
102 J'ne'99
Chic St P
& O con 6s. ..1930
J-J 103
103 J'ly '03
St
P
Minn
103 103
Ch
<fe
IstgOs 1918
J-J 12858 12915, 129 J 129'*
12014134
Nor Wisconsin 1st 6s. ..1930
Kegistered
hli)S7 Q-J I26I4I27
12534 133 H2
127
127
St P & S City Ist g 6s... 1919
Am Dock & Imp gu 58. .1921 J-J 100 "a
IO8I4U3H2 Chicago Ter Trans g 4s. ..1947
109 Aug'OS]
.

January 1

DivSHiS

1910
Illinois 1st 5s
St Paul Ist 5s 1909
Ott C F
Winona St Pet 2d 78.. 1907

J'ne'02

102*8 103
121 Apr'03

Since

Last Sale

1950

W

North
J-J
J-J
J-D

Week's

Range or

y— Ch <& laD 58 1905

1922
1949
1949
Registered
Iowa Div sink fuud 58..1919
1919
Sinking luii<148
Nebraska Kxtousion 48.1927
1927
Registered
1921
Southwestern Div 48
North
Great
Joint bonds aee
1913
Debenture Ss
Han <fe St Jos consol 0s..l911
Chic* K 111 Ist 8 t cur 63.1907
1934
ist cousol g 68
1937
General consol Istos
1937
Kegisteretl
Clilc & lud C Ry Ist 58.1936
Erie
Erie
See
&
Chicago
Chic In €& Douisv ref Os...l947
1947
Refunding goht 58
LonisvN A & Ch Isl 08.1910
Chic Mil ife St Paul cou 7.s 1905
1914
Terminal gold 58
General g 48 series A..el989
el989
Registered
Generalg 3H28serie3B.cl989
el989
Registered
1921
Cliic<fe LSuDivg58
..1920
Chic & Mo Riv Div 58.
1910
Chiccfe Pac Div 08
1921
1st K 5s
ChiCcfc P
1910
Dak& Gt Sog58
1924
assu
Far & Sou
g 6s
1910
Hastifc D Div Ist 78
1910
Ist 58
1908
I & D Exten l8t78
1919
LaCroS8e& D Ist 58
1910
Mineral Point Div 58
1910
So Minn Div 1st 6s
Southwe8tDivl8t6s....l90'.)
1921
Wi8<& Minn Div g 5s
Illinois

<&

Am Doclv

/Vic«
I^i-itlay

October J6

Denver Div 4s

ne^ So Rj
6ee Sav Fla <ft
Susq aee Del & Uud
Allegheny Valley 6e«l'eunKK
AUeg & West i>e« Bull K & P

laba Mull

alOll

Regi8tere<l

Chic

Uailroail

Alabama Cent

J—{ContiiineU)

1939
1st consol g OS
1939
Kegistered
1992
General gold 4Hjs
199'.
Kegistered
Craig VaUey l8l g 58.. ..1940
Kcb A Div Ist cou g 4s.. 1989
1989
2(1 cousol g4s
Warm Spr Val Isl gos. .1941
Greenbrier Ky Istgn K l" '40
ChicJb Alt Kit ref g 33... 1949
194
Regislereti
Jiailway let lieu 3 Hjs... 1950

0/ $6 to £.

^

Albany

N

Gold 68

'03

90 ...
95«aFeb'0'.
Frauklort-on-Main 3Sjs st>r 1.. .\I-S
Tfuie are price s on lh« ba tU 01 lour marks
98 Apr '03
ot
1899
91S2...
»
£
5s
y-J
r S of Mexico K
J hese are pr ices o n tlie
s»eciiritie«
Stnte
104 38 Sep '02
1900 J.J
Alabama class A 4 to 5
109 »4 Oct •00
1901) JJ
Class Bos
102 Hi Mar '02
Class C 4s
1900 J-J
111 Mar '02
19'.;o J.J
Currency luuding 4s
19"24
121 Alar '03
120
ol
Columbia
3058
K-A
Dlst
106 Apr '03
IjOUisiaua new cousol 48.. 1914 J.J
1 09 H> Feb '99
Small
Missouri funding.... 1894-1995
104 Nov'02
Mortii Carolina cousol 4s. 1910
130H3J'lv'Ol
1919 A-O
(j^_
^
^
^
120 Mar'OO
1933 J-J
So Ciiroiiua 4 His 20-4(3
94 '4
941-iSale
94 H2
Tenn new settlement 3s. .1913
SnuUl
93 H* Oct '03
9112.
98 Hj Oct '02
Virginia fund debt 2-38. ..1991
Beglstered
J.J
6'4
6^
68 deferred Brown Bros otfs.

Central of

109 "-J

lot! Hi 1081-..

lOlViAug-03
101 "a Sep '03

102^1

1

Le <ft Hud K gen gu g 58 1920
Leh AWllks IJ Coal 5s.. 1912
.(/1910
106 108^4
Con ext guar 4His
N Y<fc I»ngBrgt>ng48 1941
Co
Pacilio
iye
So
Cent Pacitlo
lot; '4 KKSH
Charles & Sav Ist g 78.... 1930
100 4 109
dies A Ohio K 68 ser A.. /i 1908

106»al07'4 lOliasOct'03
106H»107>4 106^4 Oct '03

108 », 109

STOCK KXCHANGE
WKKK EKDINO OCTOBER 16

N. T.

Si lice
Jantuiri/

High Ao Low

V. S. tiovemiiieiu

U 8 28 cousolregi8tereil.(tl9S0

UOM)S

jRanga

Kange or

N. Y.

I'AJJES

Ave Ry

Ist g 5s.. 1937 J-J

WS El (Chic) Isl g 4s. 1938 FA

,

Sale

Aug'03

112 Oct '03
116 Jly'03
92
92Hi
117 Hi Sep '03
94I4
94 '4
106 Oct '99
110 J'ne'02

89
96>a
112 121
116 121^4
983*
91
115 122
9414102'a

J-J
MU El Ry L 30-yr g 5S.1926 FA
J-D
Minn St Ry 1st cou g 5s..l919 J-J 105 "i
Conn RyacLlst&refg4Hi8'51 J-J 88
^t
Jo Ry Lt H&P 1st g 58.1937 M-N
97 103
90 Hi 997sOct '02
Den Con Tr Co Ist g 5s. ..1933 A-O
IO914II3
109'4 Apr'03
St Paul City Cab con g 5s. 1937 J-J
95 J'ne'OO
Den Tiam Co con g 6s. .1910 J-J
109HiDec'99
Union El (Chic) Ist g 5s.. 1945 A-O
Met Ry Co Ist gu g 68.. 1911 J-J
80 14
7634
77
50 75
United RRs San Frsf 4s.l927 A-O
77 Sale
J>et Cit St Ky Isi. con g 5s. 1905 J-J
857,
8438J'ne'03
84
United Rys St L Ist g 43.1934 J-J
103 Nov'Ol
82
Gr Rapids Ry 1st g53...al910 J-D
99 Dec '97
W Chic St 40-yr cons g 5s. 1930 M-N
lioals Ry Colstoon g58..193u J-J
109 Mar'98
'Market St C Ry 1st g 6s.. 1913 J-J
4>as and Electric Light
Met St Ry gen col tr g 58.1997 F-A 110
.\tlanta G L Co 1st g 5s. ..1947 J-D
UliiOct '03
no's 120
Bway<fc 7th Avl3tcg58 1943 J-D 110 114
7 II2I4II7
114
114 S^e 114
110 Oct '03
110 117% Bklyn U Gas 1st con g 5s. 1945 VI*Mopnce Friday; latest pnce this week, a Dae Jan d Dae Apr e Dae May ffDuej'ne A. Due J'ly /c Due Aug p Due Nov «Due Deo «Option sale
<fe

j

D

.
;

;

Bond Record— Continued— Page 2

1-212

BOM)*
w

\

lYiday
October 16

Chic* We8tInilseiig6s7l932lQ-M 106
1
100
iV West M -ch Ry 5s
J
Choc <jfc ifc It sen k 5s-...olSH!ilJ.j 103
Oin H dL- I) consol 8 t 78... 1900 A-O 102
2it troll!

Cm

C

l>

St

I

'J -' 1

. .

L,

'

&

Gin S d: (J See C C C St L
Olearaeia <& Mali Hee B K <& P
Cleveland Cin Chic <& Si Lome
General g 4»
19\to J.o
Cairo Ulv Istgolil 4s
1931> J.J
Cin NV& M Div 1st 8 48.1991 J.j
St L UiT Ist col trg 4s.. 19911 M.N
Re^8tere>il
1990 M-N
Spr * Col Div l8l g 48. .1940 M-S
Val Div l8t p 43... 1940 J.j
C 1 St L <fe C consol 68.. 1920 M-S
l8Cgold4s
fcl93t) Q.F
Reeisterert

A:1930

a;i:|

96

95'8
06
lOlHjOct '02

Sale

95^^

100 i-j.

9918

J

--

iimiio

Sep

39

'03

99H.

95

103

95
99

100
103 Hi

Oct '02
Dec '02

103
102

j.j
J.J

Gulf &SIlstref<fetg58 61952 J-J

J'ly'03

ousatonic -S«e N Y N H <fc H
Hock Val Istconsol g4'2S.1999 J-J
Registered
1999 J-J

128»4

10 1271a 13338

Haa&StJo

10414 NoV'o'i

93

93

5314

59 Hj

Apr
a-O

109

Oct

J-J

110

128

J'ne'02

93
55
109

'03

100
82
IIOI4

RegiBtered
(,'11 a 31^8

Lack<fe \V Isl 68. ..1921 J.J
Coustructiou 53
1923 F-A
Term <fc improve 48
1923 N|-N
Syr Bing*
Y Isl 78.. 1906'
Wiirrenlst ref giig3'o8.2oot)'F-A

AC

N

Del

<i;

Hud

Ist

Pa Div 78.1917|MS

1917 Ly-S
Albd: Sus Isl con gu 78.1900 A-O
Registered
190o|a-0
Guar gold 6s
1906 A-O
Registered
190G A-O
Kensii; Saratoga 18178.192] M.N
Registered
1921 M-N
Del Riv RR Bridge See Pa RR
DenvA R Grist con g4s. 1936 J.J
Consol eold4Sj8
1936 J-J
Improvement gold OS. ..1926 J-l)
Rio Gr So gu See Rio Gr So

63
83 12

62
82

132^

.

129

.

10
64

62
82

80^8
9412

i'oT^i

12714 Sep '03

134 "2.
106'^

10414,

Dul So Shore

&

1916 J-J
Atl g OS.. 1937 J.J

1693,11338
102 102
136 1371*
108'alll'4
1051410514

lU3aFeb'02
14334 Nov'02

147>2J'ne'02
9!»38
9834
10638 May'OS

105
59

104

104 >2

60

Aug'03

111

Feb'Ol

IOOI2 J'ly'03
91 J'ly'03

70

75 la Aug'03
801* 80
80
109 Sep '03

9714

99^8

104 14 107
104 108

SO

60

93I4IOOI2
931-2
91
751a 85
92
80

lOS^alU

Elgin
ElJii

3Unu See St P M & M
Ten Va <fc Ga See So Ry
Jol& East Istg 5s. 1941 M-N 113

Con & No

See

Erie l8textgold48

2deilgold53
3d exl gold 4 "28

Leh <fc

N

113

113

lliasllS

AC

4tUextgolU58

5lh ext gold 48
l8l consol gold 73
192o'M-S'
.81 consol g tund 78
1920 .\1-S
Erie Ist con g 4s prior-. 1996 J-J
Registered
1996 J-J
181 consol gen lien g 48-. 1996 J-J
Registered
1996 J-J
Penn coll ir g 4h
1951 F-A
Erie 18178.. 1916 J-l)
BultN
Buttifc S Wgold 68
190K J-J

Y&

SmaU

1908
Chicife Erie Ist gold 53.. 1982
Jelt Rli 1st gu g 58
al909
Long Dock consol g 6s.. 1935
Coal&RR Istcurgu 68-1922
Docket Imp Ist cur 63.. 1913
N y & Green L gu g 53.1946
MidRRofX J Istg 6s. 1910
N Y Sus & l8t ret 5s.l937
2d gold 448
1937
General gold 58
1940
TerminaJlst gold 08. ..1943
Regis «5,000 each. ..1943
\Vak<fc Ka Ist gug 58-1942

W

Erie & Pitts See Penn Co
EvaiiS & T H let cons 68.1921
1942
l8t general gold 58
Ml Vernon Ist gold 68.. 1923
Snii Co Branch Ist g 58.1930
Evife Ind Ist con gug68-.1926
L^argo <fc So See Cli M <fe St P
S- liiitA Pere M
See Pere Mar

J-J

115

113

113

11212115

114
111
112
117

May'03
Oct '03
Aug'03

II312

in-%
109 7g
IIII4
102 14
129
125
96^8 Sale

83

Sale

127

114

114
111
112

II3I4

89 H2
125i2J'ne'03

89

116
100

101

112
'8

101^8

132 Ha 139
130 135
98

9534

76

97
98
79 '2 88

13

87

9934

94I4

I25I2 ISO's

nois
114

ion's 110

107

100
109 '«

114

A-O
A-O
A-O

114
109
110
lOS

114
Oct '98
Aug'03
Aug'03

10034

Sep '03
Sep '03
May'03

100
108

109

lO?^!

103 >2.

J-J

134

130

i-i

11334 Dec'02
Sale

J-J

J-J

«2 II714I2II2

106
134 4 J'ly'03

127^8

106

Oct '03
Aug'02

11712 118

.107

10

Sep

J'ne'03
J'ne'02

107

107

112 12

110
lOH

114

105

Kan C & Pacific
Kan City Sou Ist

M

See
K&T
gold 3s. .1950

Kentucky Cent See L &
Keok &. Des Mo See C R
Ohio

N
I

See So

<fe

Ry

117

108

107 12 112
122

116
103

106

10 107

107

'03

Registered
V Coal Co Ist gu g 5s. 1933
Registered
1933
Leh & N V 1st guar g 4s.. 1945
Registered
1945
E1C& N Ist g 1st pf 68.1914
Gold guar 5s
1914
Leh <fe Hud R See Cent of N J

Leh

&

12

102*8 IO6I4

105

24 104

109H»

100

10534

J'ne'03

10412 Sep '03
102 Oct '01
103 103'2 101 12 Oct '03
104'>8-Mav'02
99
IO6I2 Mar'03
9212.
9II2
"dl^

102 >4 1041a

99>2l02
94
94

'.J

102 "a.

J-D

101Hj103Hj

106Hsl06H»
91H8 99

.

J-J
J-J

108

May'99

123

8534 A'ag'OS

9II2

Si's.

FA

lllio

85»4

10

101 Is Oct '99
lOo Nov'OO
103 18 Sep '03

IO4I2

F-A
J-D

M-S 1 I8I4
J-D II714.
J-D
J-D
J-D
J-D 100
J-D
M-S

.

124
90
l\^
117

May'Ol
Nov'98
118
Oct 'OS

104=8

Apr 'Oi

118
117

107 Hz Sep '03

106 14....

J-J

9712...,

107H2Dec'O2
97 Sep 'o;;
11914 Sep '03
95
96

"-^

1251a

117

loe'sioo's

Mar'02

101

IO6I4....

1201.2

91 Hj 97
ibs'^iii'

loo's Jan '03

J-J
J-J

95
95
M-S
57 ....
M-S
la....
109
J-D
85 ....
M-S

8534

107 Hi 107

15

97 102
118 Hi 123 •«
94 '4 100

Feb '03

70

lOO'bOct '03
92 Aug'03

108
91

7 4 14

4

75

11 3 '3

93 H»

A-O
64 12 Sale

A-O

64H2

65i«

80

64H2

7138

Oct '00

03

P

W Isl gOs.. 1937
1941

North Oliio Ist gag 58..1945
See N Y Cent
Lehigh Val (Pa) coU g 58.1997
Registered 58
1997
Leh Val N Y 1st gug 4 '23.1940
Registered
1940
Leh V Ter Ry Ist gu g 53.1941

Leh

94 >a

II2I4II3H1

99

1950 A-O

Registeretl

&

89

C
F

KC&M R&Bl8tgug58.1929

Erie<fe

"03

8719 95

MS

LS&

/bee

See Tol <fe O
See St L <fe S

:i6

J-J

.

J-J

A-O *i09^;

116i4 0ct 03
111 Sep "03
109Ha 109Hj

II5H2I2O
109 113=9
109H2ll4Hi

M-N
M-N

105

.

110H2Feb'02

J-J
J-J

10414!

104'4Oct '03

104

iio"'

109H2J'ue'0vi
113=8 J'ne'03

II3H2II4

109H2Oct '99
]04'2Sep'03

ibi'^ibi'ii

J-J
J-J
.\I-S

*"96ii;

M-S
A-O
A-O

91

91

108 Hi

91

97

100

Mar'03

100

100

114

118

Jan '03

118

118

Sa'lc

100
100
100H2J'ue'03
100 Oct '00
96H2
90H!
111 Jan '02

NJ
See Mo P

Wilkesb See Cent

of

Leroy <fe Caney Val
Long Dock See Erie
Long Island Istcou g 5s./il931 Q-J
Istconsol gold 4s
General gold 4s

'

/il931 Q-J
193j<

J-D

1922 M-S
1932
1949 M-S
1934 J-D

Ferry gold 4'28
Gold 4s

ibo"

JD

Unihed gold 48
Debenture gold 5s
Bklyn<fc Mont Istg

68.. 1911

1st 5s

9734 103
99 106=6

10712

116
104
112

100

I12i4Mav'03
113'2Mar'00
99 "2
99
94 Mar'03

1121a.

A-O
1941 A-O

Dec '02

10178J'ne'03
134 J'ly'03
130 Aug'03
96=8
y7
97 May'03
S3 '4
82 "^

89 Hi

F-A
M-N
M-N
J-D

M

L Sho & Mich S

M-N
A-O

FA

<fe

2d gold 08

J-J

M-N
A-o
A-O
M-N

-M-N

2d gold 5s
1909
3d gold 48
1921
Iowa Central Ist gold 5s..l93»
Refunding g4s
1951
Jetlerson RR See Erie

Lake

V

1947 M-N
1919 .\1-S
1923|M-b
1920
192« J -D

GreatNorlstg68-.1919

W

1041a

100

MS
MS
.M-N

Knoxville
Sale

923^163
91 Is Oct '03

104 la Sale

LN

A&GR
Kal
an
JticU

L' ast of
-l-Jasl

1951

Registered
1953
Cairo Bridge gold 4s
1950
Louisville Div gold 3128.1953
Registered
1953
MidiUe Divreg58
1921
St Louis Div gold 3s
1951
Registered
1951
Gold 3128
1951
Registered
1951
Spring Div Ist g 3>28... 1951
western Lines Istg 4s. .1951
Registered
1951
BeUev A: Car 1st 6s
1923
Carb<fe Shaw Ist g48... 1932
ChicSt L<fe N O g 58.. .1951
Registered
1951
Gold 3 "23
1951
Registered
1951
Memph Div Ist g4s...l951
Registered
1951
St L Sou let gu g 4s-. -.1931
Ind Bl & West See C C C & St L
Ind Dec<fc
1st g os
1935
1st guar gold 5s
1935
Ind I11& fa Istg 4s
1950

K C Ft S

78

113

1

I

giVz

102 12 102=8 Oct

gold 48
1952 A-O
Registered
1952 A-O
0<fcTex gold 48.... 1953 M-N

<fe

97

92 14 Sale

illinois Central Ist g 48.. 1951 J-J
Resristered
1951 J-J
1st gold 3'2S
1951 J-J
Registered
1951 J-J
Ist gold 38 sterling
1951

Iut<fc

98^4 Sale

M-S
Diil<& Iron liange 1st 5s-- 1937 A-O iba'
Rf mistered
1937 A-O
2d 6s

12634 13112
10834 115
10134 103

10938 Sep '03
10134 '-^ep '03
10984 J'ne'03
102 Felj'03
136 >2 J'ly'03
149 Ang'Ol
109 J'ly'03
122 J'ue'99
IO514 J'ne'03

'.

Deu & S West gen 8tK53l92y J-D
Dee Moi <fc Ft D .See C R & I P
Des M & Minn See Cli <fc N W
Des Moi Un Ry let g 58. .1917 M-N

J-D
J-D
J.D

113 117
I29I4I3312
I3OI2I3412

1306(,

130^1 Aug'iia
140 Oct '98

111"*.

100

100

10614 Aug'03 1.... 1 06 14 10934
107 J'ly'03
107 llOia

C0I& H Vlstextg4s..l948 A-O
Housl E & W Tex See So Pac
Houst&TeiCen ieeSoPacCo

Registered

J'ly'03

114
ViUi's

Registered

Del M & Tol See L S & M So
Det & Mack lat Uen g 4s.l995
Gold 48
1995
1901
Det Sou Istg 48
Ohio Sou Div l8t g 4s. ..1941

.

Mar'Os'....
10314: 11 102'4 11234
Aug'U^I.-.. 80
85

6e«CB<fca

CoU Trust

q.j
Sale
Sale

100

99
100
104

See St L S W
Nor—CB<feQcoUtr48 1921 J-J
1921 Q-J
Greenbrier Ry See Ches & O

97 »4 104

<fc

l8t ref

Low High

tfe

lll»8ll4Vi
120 129

93
63 Hj Sale
109

62
bi

J-J
J-J

'03

I28I4

A-O

A-O

Sep

120

28 U Sale

& Waco See M K T
Del Lack<& Western 78... 1907 m.S llCe
Morns & Essex Isl 78.. .1914 M-N 130=8.

NV

1

Sep 00

105
103
80

W

VlalH&H of lS821st 03-1913
Ga<fc Ala Ry l«t con 5s..ol945
Ga Car & No 1st gu g 53..1929
Georgia Pacific See So Ry
(ilia V G & Nor
See So Pac Co
Gouv Oswegat See N Y Cent
(irand Rap<fc Ind 6'eePenn RR

111% Sep

97=»4

1

1915 j.d
1915 j-l)
20oo j-d

Since

]06'2Feb'02
99

B"tW<fcDenC Istg 68.... 1921 J-D 103 14 104
Ft
& Rio Gr Ist g 3-4s.l92s J-J
76
al Har it S A
/
See So Pac Co

"03

W

Ist consol guar 7s

Range
January

High, iio

100

J-J

1st land gr ext gold 58.. 1930 J-J
Consol gold 5s
1943 J-J
Fort St U D Co 1st g 4123.1941 J-J

Registered. A

Col Conn <fc Term See N &
Conn <& Pas Kivs Ist g 48.1943 A-O
Dak ite Gt So See CM ric St P
alias

5s. ..1018

Week's
Range or
Last Sale

ASk Low

Bid

Gt
96

102

J-D 122'2l25
J.D

J.J
p.A

l^ce
Frxday
October 16

Gray's Pt Terra
94I3

94HJ Ang'03

Ill's

A-O

January

High KoWlAnc High.
Sep '03 ..--|llllH2 11636, FlaCen* Pen 1st g

96^1.

J.J

Q.J

BONDS
STOCK EXCHANGE
Week Endinu October 16

N. Y.

'

Q-F

W
W

Last Sale

lll»4Sep'03

111»4

WW

Cln S<& Cloon l8tg68..19•2^
C C C & I consol 78
1914
Consol sink fund 78
1914
General consol gold tis. 1934
Registered
1934
Inil BI&
Ist prel 4s. 1940
l8t pf 58...dl93t<
O Ind <&
Peo & East Ist con 48...1940
Income 48
1990
CI Lor <fc \Vh con Ist g 58.1933
Clev & Marietta See Penn KR
Clev<fc -Mahon Val g68...193^
Registered
193^
Clev & Pitts See Penn Co
Col Midland 1st s 4s
1947
Colorado.*! Son Ist g48...19a9
Coluni & Greenv se^ So Ry
Col & Hock Val See Hock Val

since

11; w.
109 -Xpr'O-.;
109 Mar'03 !!!!l-ii)7"io9""
111 Hz Dec '01
113 Oct '00

-

4^23
1937 J.j
I Isl pii g58...1941 M-N
C ^ee C C U Jit L

&
A

S-|i

Atk Low

Bid
Chic

3 -a

Range

Range or

WeeK's

STOCK EXCHANGE Wekk Ending October k;

N. T.

[Vol. Lxxvn,

1911

90 12 Sale

M-b
M-S

J-J
J-J

112

112
98

li.

113

112

bale

98
100

cfc

1930

JJ

1930 J-J

•124
•122

ibsVi ib5ii

'4

H2

Apr '02
Aug'03
114Hj118
111 113
Oct '03
98 '2 32 97H2IOIH1
'02
Jan
Oct '03
110 113i«

116

llS's

M-N 110
M-S
J-D 113 114
Lex gold 4 1-23... 1931 M-N 10334

H
LCin
NO&Jl 1st gold 63
N O M 2d gold 6s
<fc

QJ

J-D
M-N

99 »4 1021*
100 Hi 102
96 H2 100 Hi

Mar'03
Mar'02
112H2Jan'02
105
112

N y B<fc MB Ist con g 5s 1935 A-O
1927 MS
N y & R B 1st g58

Nor ShB 1st con ggu 5s 01932
Louisv <fc Nasliv gen g 68. 1930
1937
Gold 5s
1940
Unifie<l gold 4s
1940
Registered
gold
1931
trust
us
CoU
1907
Cecilian Branch 7s
1919
E <fc Nash Istg 6s

10

111

106 Dec '00
112 '4 Aug'03

IIIH2II4H1

108*4 Jan '03
123 Hi Oct '03
12234 Aug'03

IO8I4 IO8I4
I2OI4 129
12234 12234

.^lI.SCELLA.NEOt'S BO.NU.S—Continued on -Next I'axe.

Gas and

Electric Light
BoBaloGas Istg 5s
194 A-O
Uh G L & C Co See P G <& C Co
Con Gas Co See P G <& C Co
Detroit City Ga«g58
1923 J-J
Det Gas Co con Ist g 58. ..1918 FA

iioM

74

EqGLN
£q G

<fe

<fc

ELH

<fc

94

95 He

95
105

95

92
105

J'ne'03

Ha

99
105

P

Ylstcon g58..1932 M-S
See P G <fc C Co

112

Dec '02

117

fuel

Ga«<t; ElecBergCoc g58.1949
Gen Lleclric deb g :i'v3.-19CGr RapG L Co Ist g 58. ..1915
Hudrton Co Gas 1st g 5s.. 1949

MN

Kings Co El Life Pg5s...l93
Purchase money Os
199

A-O
A-O

J-D

I

* lio price iTiidar; latest bid

01

F.A

H2

Oct

'01

>-334
8334
10734 Dec'OO

FA

Ed ElIlBknlstcoug48l939 J-J
LacGa8Lof8tLl8tg58.el919 (^F
»»!-**
Milwaukee
vt n iin»-c \.Tun
Gas i^
L i.m
M-N
1st '±n,.
48.. 192"
I ij^
1,1

79^6

and Electric

103
11319.

102

113H2 0ct '03

93'4Mav'03
103 H2.

103Hj 103Hz
............ 95
ly '02
v^
vo J'ly

and a6kedtlii4 week.

83»4

Oct '03

•!

85 14

ibi" 105 's
113Hil25
93 14 96 Hi
10 102»4 108 H.
....

............

aDueJan 6DueFeb

LikIiI

See Peop Gas
N ewarK Cons Gas con g 58 1948
5s. -.1948 J-D

Mnt Fuel Gas Co

NYGELH<fcPg

EdEUUBkn SeeKCoEL&V
Ed E 111 AeeN Y G

74

J'ne'03

Purchase money g 43... 1949
Ed El iU l3lconvg5s..l910
1995
Ist consol gold 58
NY&QKl L&P Istcon g58l930
58.1949
E
Paterson cfc P G <fe
g
Peo Gas & C Ist gu g 68. .1904
1904
2d guar gold 68
1943
Istcou gold 68
1947
Refunding gold 5s
ChG-L<fcCkelstgug5s 1937
Con G Coof Chlstgug58.'36
Eq G <fe F Ch l8t gu g 68. 1905
Mu Fuel Gas Ist gn g 58. 1947
Syracuse Lighting Ist g 5s. '51
Isl g tja..
58. .1949
a */«</
Trenton
G vo
cSs El ^.0%/
i-i vuhju ^t

itI>aeApr

*•-<«

fi,

JD
FA

M-S

104
88
103

105
89

J-J

F-A
100
M-S 100
M-N IO2H2
J-D 102
A-O 114 116

MS
J-J

J-D
J-J

M-N
J-D

MSw
i»i-

103 106
102 Hi 105
101 Hi 103

103

88
102
114
100

Hz

Sep '03
88 H.
Sep '03
Aug'03
Sep '03

15

101
100
116
105
100

101 H2 J'ly '03
102^4 IO2I4
II6I4 116'4

105 14 Apr '03
103 4 103 '2
102 Hj 102%
10 1 Hi Sep '03
100 Sep '03

109
...... ...... j.vf

1034
I0214
125Hi
1071a

109

102 Hi 1081a
101 Hi 10314

100

^-^i^
Feb'Ol
v* ....

eDueMay /iDueJUy ^DueAug oDueUci oDueDec

IO2H2II2
97^4
87
102 107
114 119
100 107'a

5

105

...... ......

Option ^aie

J

Oct.

BOX II!*

s.ii

STOCK K.XOHAN'RK.
Week exdint. October 1G

Price

Cii;|

October

IVeek-'n

2rtcoUI 3s.;
1st

4

j:

1-3S

19

M-S
J.J

ir.

1 i*;')'.' J-J
Reuisteroil
Fla & s 1st sru e Ss. ..10:?T F-A
Peiis ifc Atl 1st pu K 0s..liV21 F-A

K

K-A
liUD A-O
Sink
LA Jeit Bi»gt>COKUs4s..l94 M-S

S

X A

cfc

con pi V

1:1

5s..l!>;>(i

See C I A- L
Coal See L S * M S
auhatiau Kvoousolis.lSi'JO

1

110

961"; 1

on

"si'

1061-2 114:'.,

111

10G>cSep '0:<
110 Aug'03

I0j^2

92

I0.">i4

0it '03

110
100

Mar'03

Motropol Kl 1st ir l>s
Mail S \V ColouiZ cos
AIcK'i.t

A-0

1 00 H:

lOOS J-J

ib'gij

AG

84
110
101
110

92

A HV

See

X Y

income g ;>s.<Jl939 Jly
consol income s ;53..nl939 Jly
1917 A-O
KquipA eollpoUl as
1st consol

70

1434 Sale

I3I4
143.
7 hi Oct '03

series so'<t

FA

93

Mex

65
SO
121^ 28I4
7

18

NY*& Har

144

145

lU^s

'03

143

116^4 Felj'03
123i2Apr'0:121
Jan '02

115
116>8
113
96

1

109" i20-V
9534 10334

Nov'Ol
98

95
75
97

97

.

Unified

<fc

A;

I

i-j

107

FA
FA
J-J
FA
J-J

'109

Sale

95
101

W

MS

Sale

83
100

J'ly'03

101

101

I23I4

108
83

J'ly'02
12314

122

12436Apr'03
9134 Aug'03
110 Sep -03
98 12 Oct '03

FA

coll

1271..

12438 1251..
9134 971-2

110
93

1151..,

981"

98 S. 101iaJ'ue'02

See Southern

1!128
Ist consol gold 5s
Jasper Branch 1st gGs..l923
\V A; Al 1st G3..1917
T<fcP Branch 1st Gs
191'i
Nash Flor A; She£ See L A; X
Natof Mex prior lieu 4'^s.l92(> J-J
1951 A-O
Ist consol 4s
X'
A- H
New A: U See

116

12034

1081-2 Sale

1081-2

113
116
111

McM M

XY H
H
NJJuncRR SeeXYCeut
New A: Cin Bdge See Penn Co
NOArX E prior Ueng 6s pl915
N Y Bkln A; Mau Bch See L I
N Y Cent & H Riv g 3>2S.1997

103
75

74

98

Sep '03
108 12

124
108 12 115
12.)34

Pocah C

J'ly'02

C C A; T

V A;

1st
N''

103
74

5

25

98 105
9514 Aug'03 ""8

lOOSg

lOO't

1011-2 J'ue'03

98
73

103

!•>

79 'e

95 104
95 14 105 14
10038 103^8

100

M-S
109 1^ Sep '97
J-D 100 "8 101 Hi 9934 J'iie"03
9934
J-D
99 Dec '02
MX io2"';;!; 100 Sep '03
100
M-N
991-i Nov'02
FA 90 Sale 90
65 87
90
FA 90 90 ^ 86 14 Oct '03
86
FA 87 >4 90 88 Sep '03
86
FA
91
91 Jan '03
107
J-J 102
108 May'O
14
J-J
J-J *ib6"

106

101 '8

J-D
M-S

WW

Pennsylvania Company
Guar Isl g 412S
1921
Registered
1921
Guar 312S coll trust reg.1937
Guar3i2SCoUtr serB...1941
Tr Co certif's gu g 3 1^8.1916
C St L A; P 1st con g 5s. 1932
Registered
1932
CI & Pgen gug4i2Sser A.'42
Series B
1942
Scries C Si^s
1948

Series D31128
1950
Pitts gugSiiS B.1940
Series C
1940
A; C Bdge gen gu g 412S 1945
las
P C C & St L gu 4 A. 1940
Series B guar
1942
Series C guar
1942
Series D 4s guar
1945
Series E 3I2 guar g
1949
Pitts Ft
A: C 1st 7s. ..1912

N

94 'e

. .

91
92^8
91

108

J'ne'98

RR

W

J-D

97
Sale

.-1

1021.2.

1st s tg5s.l951 J-J
st c s r 5s. 192,-- J J
1

1

1151-2
11()»8

J'-iH''02

10218.

1001.2

100

Sep '03

115

115

,

115

117% Oct 'o:;
11334 Jan '02

1021.2

l()7-'HFob'03

101i.2S;U6

1011.2

Co sru c6s.1910|F-A
Va IronCoalA-C 1st s ."is.r.iiyiM s
Wh LE A: PCColst'g5s.l919J J-.J

96
70

Sale

96

73

72
32

Jan '00

1021-2

105

Friday; latest bid and asked this week,

7234

a

Due Jan

91
91
1021a 10734
1021a 112
9(>

I0312

72

81

6

1

24
139

24

1

139
112
123

-

lo

11218
1251a

100

100

15 115
117

115
I22V1

107-ie 1071-2

101'-..

12 100

103

May '03

102

1033^

I2518.

1313.J

Apr '03

12S?34

13134

I02I4.
10134,

10i>i4

105
101

IO6I4

101

Mav'03
Sep '03

99
101

99
May'03

97 1031,
100»8l01

98

.

105
129

,

105

1281-2

95

Sale
t-8

4

Feb '03

30

Aug'03

Apr '03

114
130
128

13214 Jau'o;;

132

103
98

94=8

1.(

Sale

Sale

FA
J-D

90

128
132 14
94=8l01'«
93
961a
87 14 94

11

ge'^sioi

90 4 Sep '03
87 1-2 Oct '03

98

98
lOOia

10114 384

1001-2

100 Si

4

701-2

114

70
101

120112.

10334
'

.

943^

99ial04
99 Vfi 10358
7379
70
70I4

701a Mar'03

Q-F

A-O

95

II514
1331a

107i.2J'ly'0

Sale

J-D
J-D
F-.ii

105
la

12s

1 1
1

132

y-F
Q-F

721*

J'ne'03

101

101

122
122
132 J'Iy'99
112i4J'ly'03
105 Sep '03
901a Mar'03

121

127

II2I4II214
105 105
96 la 98

94iaFeb'02
la Oct '03

111

110

1161a

114 la May'03
108 la J'ly'02

114

1144

104!^ Sale

104i^

101

111

Apr'03
Apr'02

102

102

102
102

IO8I2IO9

A-O
A-O

1121a.

J-J

112=8-

IOSI4 Aug'03

M-S

MN

901a.

96

.

10734 110

108
106
102

106

1091a

911a 97
95
951a
122 14 123

IO8I4IO8I4

A-O lllia.M-N

FA
J-J
J-J
J-J

98
101

.

A-O 1071a.
A-O 107=8M-N 107
M-N

la

Oct '03

107 la

1071.;

107

107iall4ia
106 112

llGiaFeb'Ol
IO6I4 Nov'02
92 Sep '03
12758 Oct '02
11934 Sep '03
130 Apr '01
103i4Oct '03

.

FA

Nov'OO

102

90

A-O
M-N 103 la
Sale

951a

96

92

96

11934 i28'

100
133

104

W-'l'wi'^

on Next Paae

and Telephone

Cable Co 1st g 4S-.2397
Registered
2397
Erie T <& T col tr g s t 5s.. 1920
Met T A; T 1st s f g 5s
1918

MutUnTelCo SeeWestnUn
Y & X J Tel gen g 5s. .1920 M-N
Westll Telfi" See West Un

J'ne-

100
109
114

106

.

104 105
102 14 Sale

la

'00
'99

Oct
Oct
Xov'02

105 14 J'ly'03

IO514IOSI4

105 Aug'03
IO2I4
l<'2-'4

105
102

110
105
1071a 109

107iaJ'ne'03

1904 J-J

.Manufacturing He Industria
Araer Bicycle s f deben 5s 1919 M- S
.\m Cot Oil ext 4ias
1915 Q-F
Am Hide A; L Isi s £ g 6s.. 19191.M-S
Am Spirits Mfg Isl g6s..l915!M-S

Due Feb «Dne May y Due

961a 961a

961a 100 la Apr '02

M-N 1124.

No

X'orthwestern Tel 7s

96 "a Apr '03

J-J
Q-J
Q-J
J-J

.V

.

1041a

Sep '03
Mar'03
Nov'98
911-2 Oct '03
95 Sep '03
122i4Feb'03

J-J
J-J

West Union col tr cur 5s. 1938 J-J
Fd and real est g 4 Has... 1950 M-N
Mut Un Tel s fund 6s. ..1911 M-N

Sep '0.1
Oct "03
Feb '00
98

9734 105

Lic'Ol
lOOiuXov'OO

11608.

"'7014

I0GI4 Feb '02
105 Oct '00
J'ly'03

May' 03

112

123i.2,Mai'03

101

Comm

91

'03
'03

127
110

Q

55 Nov'OO
112 112
112 Apr'03
105
97
3 90
97
67 14
76 797 67 14 96-'4
115 J'ne'02
107 MiiVl)7
80 Mav'97

10234

Jan
Jan

124
139

II918

Consol sterlincgGs
1905 J-J
Convertible g 3Vs
1912 M N "96
Con currency 6s reg...^l905 Q-M
Consol gold 5s
1919 M-S •109

Am Telep & Tel coll tr 4a 1929

Si

't

1-,

J-J
1912 J-J

;il912
1st real est g 4s. 1923

Teiesn-npli

li)2C.

No price

gu g 5s
1922 J-J
1st gu g 4s 1989 M-N

E

Coast Co 1st g 5s
1946 J-D
ac of Missouri See Mo Pac
Panama 1st s fund g4i2S.. 1917 A-O
Sink fund subsidy g 0s..l910 M-N

100=8

107i2J'ly'00
110i4Dec'0]

Roch A; Pit C A: I pur m 5S.194G M-X
Teuu Coal sen 5s
IHSllJ-j
Tenn Div IstgGs
al917i.A-0
102
Birm Div 1st consol GS..1917' J -J 103 "a
Cah C M Co 1st gu g 6s. 1922. J-D

*

J-D

Erie&

Apr'02

10234
IO5I3

98

115

Wash Cent ist g4s
1948 Q-M
Nor Pac Ter Co 1st g 6s.. 1933 J-J 112";
Ry Cal See So Pac
Xor Wis See St P M A; O
Xor A; Mont See N Y' Cent

2d7s
95

103.%,

101

X'or

3d 7s

Convertible deb g 5s
1911 KAj
67
Gr Riv Coal A; C 1st ir Os..l!nii,.\
Jeff A; Clear C A; 1 1st g5s-1920: J-D 102

I

.A.-0

lien g 4s.. 1997
Registered
1997
General lien gold 38
a2047
Registered
a2047
C B A; Q coll tr 4s See Gt Nor
St Paul-Dul Div c 4s
1996
Registered
199G
St P A;N P ^en gOs....l923
Registered certitlc's..l923
St Paul A; Dul 1st 5s. ...1931
2d 5s
1917
1st consol gold 4s
190S

Penn

J-J

10(i:'4

101

9814
98
114 Feb '02

its'..

1001-2

North Illinois See Chi & N'
North Ohio See L Erie &

lOOSg

A-O
J-D

Cah Coal Min See T C I Ai R
Col C <fc 1 Dev Co gu g 58-1900 J-J
Col Fuel Co gen gold Os...iyio M-N 106
Col F & I Co gen s 1 g 5s..ly43| F-.\
95

DeBarCA:

C

199G
joint 4s. .1941

1:)ac

Dec'99

97ifl
,

100 Sg Sale

1992 Sep

C

IstgGs
1932 A-O
1 8t con g 48.1996 A-O

A;

MISCELLANEOUS BONDS— Continued

A-

&

FA

NYC
XW

Coal and Iron

Kan A; H C

II101.2

Oswego & Rome See
O C F A; St P See C &

Dec '99

103
7314

Sale

Wh.

1997
ol... 1884.1904
Registered
1884-1904
Kegist deb 5s ot... 1889-1904
Debenture g 48
1890-1905
1890-1905
Reitistered
Debt certs ext g 48
1905
Registered
1905
Shore
Iiake
coUg3'a8... 1998
Registered
1998
Mich Cent coU g3i2S....199g
Recistered
199^
Beecli Creek 1st gug4s- 1930
Registered
193G
2d gu gold 5s
193G
Beech Cr Ext 1st g 3 ^s 61951
Cart & Ad 1st gug 48.. .1981
Cleart Bit Coal Ist st 4s. 1940
Gouv&Oswelst arug5s 1942
Moh & Mai Isl gii g 4s..ltt91
Registered

Pleas Val Coal

Sulo

J-D
General gold 5s
1937 A-O
Ore & Gal See So Pac Co
OreKRA:Nav See Un Pac
Ore Short Line See Un Pac

A-O

Debenture 5s

2dgoUl 5s

02
02 14

10(11.2

SeeCCCA;StL
OInd&W
hio River RR 1st g 58.1936

*<« X Y C A; H
Mouougahela Kir See B A; O
Mont Cent See St P M A; JI
Morgan's La & T See S P Co
Morris & Essex See Del L & W
Nash Chat A; St List 7s. 1913

Mohawk A: Mai

Income 58

1941 M-N
(is
1931 M-N
ext g 6s.. 1934

lstg5s

Nor Pac— Prior
100 105 14
107=bll3
10918115
108 111
911-2
82

llO^J'ly'OO
93 Apr '02
102

con g 5s.. 1937 M-N

Registered

11 llo
122
10738

May'Ol

108
82

122

St L A: Cairo
g 4s..el930 Q-F
1931 J-J
Guaranteed g4s

92
100

111»4

loSiaim-j

W

West gen g

Xew River
N' & W Ry

27 101 1-2 107 lo
89
94 V

10834 Oct '03
10914 1093,

Sale

l8t extension gold Gs..ftl92 Q-J
1938 .MS
General gold 4s
'109
Moutgom Div Ist g 5s. .1947

103 Hi

10234

A-O 109 Hi 110
A-O '108

ref gold 4s. .1929 J-J
1st g 5s. 1920

A; South
A;

Iiiiprovem't

Scio

103

R

Housatonic

1051.1

l('51.2lll

lis
102

W

X H & Derby con g 5s. .1918 MX
1905 J-J
N Y A; N E 1st 7s
IstOs
1905 J-J
N 1' A: North See N Y C & H
N Y 0& Wref ]8tg4s..vl992 M-S
Regie $5,000 only.
</1992 M-S
N \' A; Put See N Y C & H
X Y' A; R B See Long Island
X Y" S A: W See Erie
N Y Tex & M See So Pac Co
Xorf

90

100

Y'^

.M-S

M0I1& Birm prior lieu g 5s 1945 J-J 110
93
1945 J-J
Mortgage golA4s
Mob Jack A; K C 1st g 5s. 194(3 J-D
123%.
J-D
Ohio
new
gold
Gs..
1927
Mobife

M A; O coll 4 s

85
104

105 V2 100

1;.

01917
1920
Cent Br Ry 1st gu g 4s. 1919
Lerov cfeCVALlstgSs 1920
Pac R of llo Isi ex g 48.1938
2d extended gold 5s.. .1938
St ii Ir MA; Sgen con g 5sl931
Gen con stamp gtd g 5s 1931

1001

1

10634
0534
1 m->.\
102
Sep "OS
ilOl 'n .\ug'0
1

ii

1937 A-O

Greenw Lake See Eric
See X Y C & Hud
See D L A;
N Y Lack &
N L K A: W See Kne
N Y A; Long Br See Cent of N J
X Y A; N E See N Y X H A: H
New York New Hav A; Hart—

Nor
871-j

•

Registered
1st coll aoldSs

1 (13.

1231-2

Apr '01

97

Sale

1453s

1 634 1

123 lo

112i4Sep '03
9534 Sep '03
103
98

97

Oct

144

Uidh,

Y

X'^

76 Sale
75>2
F-A
76
97 1^ Sale
97''6,
97
1944 M-N
86 Oct '02
St L, Div 1st ref c 4s. ...2001 A-O
106 Sop '02
Dal A- \Va 1st gn g 5s... 1940 .\1-N 100
87
90 Mar'03
Kan C & Pac 1st p 4s.. .1990 F-A 83
97
M-S
Sale
97
98
1
942
M K A- T of T 1 St cu 5s
106 Aiig'03
Slier Sh <k So 1st gii g 5s. 1943 J-D
1051-2
1051-2
1942 A-O lOoHilOG
Mo K tfc 1st gu g 5s
107i2Oct '03
190G M-N 10712
Missouri Pacitic 3d7s
119i4Sale
M-N
119
II914
920
gold
1
St
consol
6s
1
1024 103
Trust gold 5s stamped. al917 M-S 102 Hj

V

97

Ia>iv

gug 38. 1989 J-D

UticaA Blk Riv gug 48. 1922 J-J
Chic A; St L 1st g 48.1937 A-O

(71990

?:

Stur 1st

cfe

Registered

Minn A- St L frii See B C R A- X
MA; Plst 5sstpd4siIUSU 19;!i; J-J
M S S M & A 1st c 4 int cu 19Jii J-J
M St P A- S S W con c 4 int gu '3S J-J
Minn Vu See St P M A:M
Mo Kan A; Tex 1st g 4s.. .1090 J-D
2d cold 4s
Istext cold 58

<fe

N Y Harlem g 3ia8...2000 M-N
2000 M-N
Registered
N YAiXorth l.st g 58...1927 A-O
R WAiOcon I.stext58./tl922 A-O
OsweA R 2d gu g 5s...el915 FA
RWA;OTR 1st gug 58.1918 M-N
XY

J-D
J-D
A-O
South West Ex 1st s 7S.191U J-D
19;!4 M-N
IrI consol gold 5s
Ist and refund goUl 4s. .1949 M-S

Verdi

9112

WW

&X
M

MU

Bat C

18:1.1

1

MS

L& Slstg 312S

J

MS

1931 M-S
1931 Q-M
1940 J-J
1940 J-J
1951

68
Registered
48

1111.J

X

W

guar Os

Au

105i.2Nov'01

11734

1934

Jliqh

107 V 10634

107

120
121

C'l RR Ist 5s. .19:54
McK A Y 1st gu OS. 1932

Haufie
Since
Jaiviiary 1

Oct '02

105

A-O

2301 J-J
2301 J-.l

McKeesAs BVlslg0sl91S
Mich Cent Ist consol 68.1909

1041-..

May'OO

105

Xortli 1st jiohl tjs....l910
Y Cent
See
See Erie
See Clue & X
Mil L S <fc
Mil A: >[ad See Chic
As St P
See Cli
A; Xortli
Minn A; St L 1st cold 7s. .19
1909
Iowa Ex 1st aold 7s
I'acitic Ex 1st cold i>s...l921

Midi Cent
Mid ot X J

108

71

9178
93
90»8J'ly'0]

Sale

si

1

99

1919 .^-O

u""

con c 4s. 1977 M-S
1977
Stamped iriia ran teed
Internal

105

Pitt.s

Registered

70

2tl

CoUtr c4><.slst 8er....l907

Bs. 191(1

FA

1-.

Cent

Metropolitan El See Man Ry
Mex Cent consol jro''' 4s. .1911 J-J

gug

JD

113

105
110

1st

Isl 4s gu...

Mahon

100 V2
1037HDec'02
>4
109-<^
109

Sale

Ask Low

IS Hi

10034 Sale

J-D

l'J:54

li—( ContimieU

IlVf A-'.<!

L'anye or
Last Sale

Registered
Lake Shore consol 'id 7s. 1903 J D
1903
Registered
1997 J-D
Gold 3'.2S
1997 J-D
Registered
Det Mon A; Tol 1st 7s. 1900
KftAA-G Rl8tguc5s.l938 J-J

JMar'Ol

I00>4

Sale

H

A;

I'rice

J-yidav
October 16

1

96 H;

1071-21071..

lOli

Cent

NJ JuncR gu l8t 4S...19SG FA
1980 FA
Registered
N Y A Pu St con gu g 4s 1993 -V O
Nor A- Mont
West Shore

Xov'l)9

107>4J'ne'03
87
87

iiii'

87

13

9G ^i

98

N Y

2il

lO'JO

Rosristere'il

2(t

JJiy/i

A- Oil

Mahon

Mex

STOCK EXCHANGE
WkkK ENDINd OCTOBKIII6

Jamiari/

Ao Low

1213

N. T.

Since

125 4 A«g'02
75 J'iie'02

tunil jrolillis

LX A

Jii(jh

2 «

Ill's llGa8Mar'02

M-Sl lOG
J-jl

M jMut 4s.l',>:>'2

XSouth

L,<fc

'.6

I'.'Sli

isa^re 1st s f >r 6s. ISKil
jioUl 4s..li»S7

KeutuckvCeiit

X <V M .t .M

;

BOM>S

Haitije

KaiK/e or
Last Sale

Ask how

Hill
Lonisv A- Sixshv—' Ccrnttiiiird
Peusacola I)iv jrolil Gs...lS>'20 .VI. P' 110
ll'-'l M-Sl
St L Dir 1st colli Gs

L.t

)

Bond Record— Continued— Pajje 8

17, 1903.]

X. Y.

Heniler

—

1

.

/iDueJ"ly

34

Feb'03

34
421a
9378 101

9378 Aug'03

68

88

90

p Due Nov

70
99
«

70
Oct '03

Option

24

sale.

70
80

9S
94 14

—

1

1-2U
IJOMl-S

STOCK EXCHANGE
Wkkk E.NDIXU OCTOBER 16
Peuu KK Continuetij

JVtco

Week's

Ji'anf/e

Frida v

Range or

Since

October 16

Last Sale
Hio/i
106 Aug'0:i
102 Nov'97
11234 Mar'OO

106
100
104
9S
109
9S
106

&

I exist ku it 4 Sis 1941
Lewis 1st g48...1i)3t>
KK ifc Caupeu48.1i>44
Peusacola it At Hee L it Nash
Peo A' East 6Ve C C C <fc St L
Peodt Pek Uu 1st g 6s
1921

Suu

UN

!5«

Ask Low

(

Ctuisol golil -ts
1943
Alifi; Val i;<»u ga p 48...1tUv;
Cl.te Mar l8t «u g 4Sjs..li>o5
K K K Bse 1st ITU 4a K-'Sli

OrKA
ifc

J

109i4Oct '03

ItOMVS

Kohl 4 Hjs

•-'il

Marq— f & P M

Janvary

Ist eousol jioU\ 5s
19311
Pt Hurou I>iT Isl « OS. 1939
Sas Tus it
1st j?« K 4s. 1931
Pine Creek rec guar 6s...l93'J

Y

Seeii

137

115
104

'01

112 la Dec '02

IUHj

1997
1997

96

Sale

89 >4,

941a 95»a

95

83

891a Sep '03
97 Jau '02

...

"98" iooia
IOOI4 IOOI4

95

9334

9S1.2

96

96i|

89

96

94
88

llOiaFeb'03
75 Aug'03
92 Mar'03

85

99
92

llOia 1121a

75
92

81

81

75
92

81

Virginia Mid ser
Series D 4-5s
Series E58
General 58

94

W

St

ifc

2d golil 6s Class
1906
General gold 6s
1931
General gold 5s
1931
SI Life S F KK cons g 4s.. '96
Southw Div 1st g OS. .1947
Belundiug g 48
1951
J<n^Sifc
con g 68.. 192(5
K C Ft S & M By ref g 4s 1936
Kegistered
1936
St Liouis So See Illinois Cent
1st g 4s bd CII8.1989
St Li S
2d g 48 inc bond ctls...i(1989
Cousol gold 43
1932
Gray's PtTer Ist gug OS 1947
St Paul <fc Uui See Nor Pacific
& Man 2d 68.. .1909
St Paul
1st cousol gold 63
1933
Begistered
1933
Bednced to gold 4 "as.. 1933
Begistered.
1933
Dakota est gold 6s
1910
Mont ezt Ist gold 4s
1937
Begistered
1937
E Miuu 1st div 1st g 5s. 190»
Begistered
1908
Nor Div Ist gold 48
1948
Minn Union 1st g 6s
1922
Mout C 1st gu g 6s
1937
Begistered
1937
Ist guar gold 03
1937
WiUifc SF 1st gold OS.. 1938
Bt P & Nor Pac See Nor Pac

114
75

W

Sale

107'%
13138 Sale
1081a.

101

Sale

10134

,

931a

69 14

6934

6834

691-2

IIOI4 Sep '03
13138 1313f,

J-J
J-J
J-J

FA

120 129
108iall5

Syra Bing <fe

951a

12714I3514

100

IIOI4 J'ly'03
101
101

lllia

IIOI4II4
33 100 104

May'Ol
Aug'OS

103

Apr'02
Mar'03
Apr'97
IIOI4 Sep '03

114
111

105

105

125 la

Feb '02

111

Aug'Ol

11334

Dec '01

134

I34I4

11014 1181a

74

112

901a 94 "8

Nov'02
Sen 'i>2

1116

UlSi

IOOI4

102

24

72
107
111
103

102

864

IIOI4
lllSi
10534
IO4I4 104 14
l(i534 lOOSj
1191a 11934
119 11934

Apr'O:-'

1031a

103 14 J'ly '03
104 14 Miiv'il3
106 "a Mivj'Uo

108
108
112
108 14 Sale

119 .Mai'03
107 'a Sep '03
IO8I4
108 S

25 106 la 110

lOOife

10834 J'ne'03

10834 112

101

I0214.

Feb '03

11934

1071a 110

108

May'(l2
111 la Oct '02
105 Apr '03
101 105
112'-: 106 llliallSis
112

105
112 "a Sale

IIII4 Aug'Oa

90

Sale

"92' Ill
.

110

90

iiov

IIII4II7
89
971a
110iall3i<j
92^8 981a

92 7^ Oct '03
120 Mar'Ol
95 Dec '02

.

901a.

112
lllia
1161a Sale
11934 ".v.

119
114

90

UOSj

120 Sep '02
114
114
llGi-i
116
114 Jau 'OS
122 Mar'03
124 la Feb '03

112

114
114
122
123
114

1161a 115 "a Aug'03
101 I4 J 'ly '00
108 Sep '03

11618
1191a
11534

124
1241a

118

9rfl4...

105

108

92 Sep '02
103
103
123 Feb '02
112 Feb '03
115 Jan '03
110
110
llOiv
llOia
113 la May'03
"89"
93 Feb '03
113
115 la Mar'03
102 "a 104

11134

103

108

112
115

112
115

108 11618
113iaH3<>8
93
93
115 1161a

Sunb & Lew

See

Penn

1934

W

89 >a.
88 .

SUSpOcaA G gug 4s. .1918

W

Aee Nor <fc
Sealward Air Line g 48 ...1950
1911
CoU tr refund g Ss
Scab <fc Boa Ist Ss
1926

Car Cent Ist con g 48... 1949
Sher Shr <fe So See M K & T
8U Sp Oca & G See Sav F &
1924 J.J
Sod Bay <& So 1st g 53
flo Car cfc Ga See Southern

'

Apr '03

111

11234

Aug'Ol
95i4May'03

95

961a

64

8438
103^2

111
87

108^8

65

Sale

96

100

88

68 1-.
64
98
100
llli4May'03
90 Oct '03

98
IIII4III1,
951-2
90

W

g4>as..l90o

100

Gold 4s (Cent Pac coU). A;1949
Begistered
fcl949
A <fc N 1st gu g 58.. ..1941
Cent Pac Ist ret gu g 48 1949
Begistered
1949
Mort guar goId3»2S..fcl929

W

Jan '03

102

9734 98
851a Sale

104
97 la Sale
85 1« Sale

9734

102

102

95ial00i8
92 1«
84

98

85
851a
95 Apr'02
la
105 Feb '03
971a

1051a 1051a
96 102
99"* 99 14
82
88 la

OS's

99 14 Mar'03
85 14
85 >4

fcl929

Gal Uar& S A I8tg6s..l910
2d gold 7e
1905
Mexife Pac Ist g 58.. ..1931
Gila VG&Nlstgng 58. 1924
T l8t g 58.1933
Hoos E <fc
1933IM
l8t guar 58 red

W

1041a
103 105
105 Sale

105
101
102

119

117 J'ly '00
1041a Sep '02

.100

Rl'

N Y *ee D L W
& N See M K T
1 er A of St L Ist g 4ias..l939 A-O
<fc

'I 'ebo

<fe

FA

T0IP& Wist

MS

10434

.

Ill

.

100

10714 J'ly'03

IO714 11234

110
115

Sep '03

no

118

J'ue'03

115

117'8

100
113
81

102
II8I3

J-J
J-J

101 la Sale

M-N
1911 M-N

94»8 Sale

100 Sep 'OS
115
115
81 .T'ne'03
109 Is Sep '03
109 Sep '03
111 Sep '03
107 Feb '03
88 Oct '03
88 Sep '03
84 Oct 'Oi
68
68
98 Apr '03
108 J'ly'03
100 Is 101 la 401
1
100
100
9458 805
93=8

981a

105i4Jan'03
98
9834

J-D

115

Mar

80

J-J
J-J

A-O
J-D
A-O

107
105
88I2

gold 4a.. ..1917 J-J

88

TolStL&WprUeng3ias.l925 J-J

82
6S

1950
50-year gold 4s
Tor Ham & Butt Istg 4s./il946
Ulster A Del Ist cong 58 1928
n Pac RB & 1 gr g 4s. .1947
Begistered
1947
IstUen convert 4s
1911

A-O
J-D
J-D

Ore Ry & Nav con g 4s. 1946 J-D
Ore Short Line Istg 68.. 1922 FA
1946 J-J
1st cousol g 58
1927 FA
4s & participating
Utah <fc Nor 1st 7s
1908 J-J
Gold 5s
1926 J-J
Uni N J RR & C Co See Pa RR
Utah Central See Rio Gr Wes
Utah & North See Un Pacific
Utica & Black R See N Y Cent
Val Ind <&
See Mo P
Ver
Irginia Mid See South Ry
Va & Southw't Ist gu 53.2003 J-J
1939 M-N
Wabash Ist gold 5s
2d gold 08
1939 F-A
Debenture series A
1939 J-J
SeriesB
1939 J-J
Ist hen equip s fd g 6s. .1921 M-S
Det cfc Ch Ext 1st g 5s.. 1941 J-J
Des Moin Div Ist g 48.. 1939 J-J
1941 A-O
Om Div Istg3ia3
Tol cfc Ch Div Istg 48... 1941
St Chas Bridge Ist g 68.1908 A-O
Waixen See Del Lac & West
Wash Cent See Nor Pac
See Sonthern
Wash O cfc
West N Y cfc Pa 1st g 5s.. 1937 J-J
Gen gold 3-4s
1943 A-O
Income os
dl943 Nov
Ry
West No Car See South
West Shore Se« N Y Cent
Va Cent cfc P Istg 68. .1911 J-J
Wheel'g cfc L E 1st g 58.. .1926 A-O
Wheel Div let gold 58. .1928 J-J

110

90
83
Sale

9II4

110

121

12034
IIII4 11134 IIII4
9038 Sale
891a

109
103

12034
llli-i

903^

100

1081a 111

113
113
107
97
88
88
92
8334 86
80
68
98
9S
108 IIOI4
109
110
107

9918 1030b

99 103 Is
90'%107i4
IO514 1051*
26 9634 102
1 120
1271a
15 109 114
111 871a 98I4
.

Nov'02
1141a Apr'02

115

W

128 Oct '02
123 Dec '99
95i4Nov'01

SlJolm'sDiV 1st g 48... 1934
Ala Mid Ist gu gold 5s.. 1928
Bruns*
Ist gug4s.. 1938

BegisMsred

M-N

MS

J-J

192(i

2000
92000
891a 971a
85
1931
58
g
la
637e
T0I& O C lstg5s
1935
66
86
Western Div Ist g 5s... 1935
General gold 08
1935
Kan<fe M 1st gug 48.. ..1990
110141131a

128
134
115

129 13.

W

tr

J-J
J-J

4s. .1924
6s. .1914

1921

Registered

S A & A P See So Pac Co
S F <fe N y Ist sink 1 g 53.19IS
l8t gold 68.. ..1934
Sav i" 4

80 Pac Co— CoU

A-O

& N Ala See L <fe N
Spok Fails <fe Nor 1st g 6s. 1939 J-J
Stat Isl Ry 1st gu g 4ias..l943 J-D

6eeCStPM&0

NE

J-J
J-J
J-J
J-J

1936
1936

68. ..1910

Ist gold 58
2d gold inc 5s
La Div B L Ist

95

106
104

SFePre8& Ph Ist g 53. ..1942 M-S

<fe

M-S

10408106
103 la 106
92
100

140 May'02
108
108
116i«Apr'01

lll^e

.

Scioto Val

W

J-J
J-J
J-J

M-S
A-O
M-N
M-N
M-S
M-S
M-S
M-N
M-N

M

118

95 Sale
69 "^ Sale
69 Sale
100

M

Ist gold 5s

AG

100 J'ne'03
100
82 14 230 7334 9178
81 13
1894-1944
1st con gold 58
118 J'iie'03
118 124
Bge Ter gu g 5s. 1930 A-O
St L
74I2 881a Tex & N O See So Pac Co
75
75
Tex it Pac E Div 1st g 6s.. 1905

8 134 Sale

M

'StP&S'xCity

A-O
A-O

109

Feb '02

la

102 J'ly '03
113 Jau '01
105 la Nov'Ol
7338
74
107
107

.

73
106

Lov) Higik
10834 112

S

lOSiaSep'OS
104 "a Oct '03
122 Sep '03
108 "a Sep '03
92 Aug'03

1041%.
104*8.
12218.
10958.

<fe

KC

C

Guar stamped
O <fe
1st cy gu
West N C Ist con g

L it Iron Mount See M P
St L K C
i^
See Wabash
StLMBr ieeT BK Aof StL
St L
S l-'ran 2d g 6s CI B 1906

IO912.

JJ

Hioti

130
122

100

J-J
J-J

1943
1994
Begistered
1994
Mobcfc Ohio coll tTg4s.. 1938
Mem Div Ist g 4ia-5s... 1996
1951
St Louis div 1st g 4s
1918
AlaCen R 1st g 6s
Atl& Danvlstg4s
1948
Atl <fe Y'ad 1st g guar 43.1949
1916
C0I& Greenvlst6s
E T Va <& Ga Div g 58. .1930
1956
Con Ist gold 5s
E Ten reor lieu g 58
1938
1922
Ga Pac By Ist g 6s
Knox & Ohio Ist g 63.. .1925
Rich & Dan con g 68
1915
Equip sink fund g 58. .1909
1927
Deb 5s stamjied
Rich cfc Meek Ist g 48. ..1948
SoCar<fe Ga 1st g 5s. ...1919

lOmNoT'Ol
82

91
127

114

J-J

<ft

Coll gold 58
Sonthern— 1st cong 5s

j>'ee

Rutland Ist con g4'2S
1941
But-Cana<l Ist gu g 4 Has. 1949
Cag Tus 6i H Hee Pere Marq
Oalt LakeO Ist gsl 68.. 1913
8tJo<&Gr Isl Istg3-4s..l94
8t Law & Adirou Ist g 5s. 1996
2d gold 68
1996
St L lb Cairo See Mob <& Ohio

91

Since
55^ January 1

Oct '03
Sep '03
91

110
109

J-J

SPacofNMexlstg6s..l911 J-J
1937 J-J
S P Coast 1st gug 4s
Tex N O 1st 78
1905 FA
1912 M-S
Sabine Div IstgOs

11034 117 >4

98 J'ly '97
98 Aug'03
100i4Feb'03
120 >2 Dec '02
95 14
96
96 Hi J'ly '03
89
89

B K <& P
Wat & Og See N Y Cent
Puts

i&

Oct

Ask Low

A-O

lstg6sseriesE& F...1912 A-O
1st gold 6a
1912 A-O
1st con guar g 5a
1937 M-N
Stamped
1905-.. 1937 M-N

117i4J'ly'03

Kich it Uaii iVe South Ky
Rich Je Meek Hee Southern
Bio Ur West Ist g 43
1939
Cousol an<l col trust 43 .1949
Utah Ceut Ist gu g 43.al91
RioGr Juuo 1st gu g 5s... 1939
HiogrSo 1st gold 4s
1940
Guaranteed
1940
Bonie

120

V Ceu

Kegisterea
Jersev Cent coll g 4s. ..1951
Beosselaer tt Sar Hee D <& U

Boch

Nov'9:

107 13 Oct '98

A-O

Pitts Sli cfc L E Ist g OS. ..1940
1st eousol gold OS
1943
Pitts & West lstg4»
1917
J P -M it Co certis
Pitts Y iSi Ash Ist oon 5s. 1927

Keailiug Co gen g 4s

1211a
107 111
10i3iall3

10534 106'-. 106 Si Oct '03

Cm

ifc

A-O

190'"
Cal 1st gu g 6s
Guaranteed gold 5s
1938
Ore & Cal 1st guar g 5s. 192
S A & A Pass 1st gu g 4s. 1943
So P of Ar gu 1st g 6s.. .cl90
1st guar g 6s
cl910
S Pot Cal 1st g 6s
1905
1st g 68 series B
1905
1st g 6s series Cifc D...1906

127
95

120
96
116

J'ne'03
J'ly'03
107'-jSep '03

10l!>-i

H

Puts McKees

Oct '03

120
95
116

<»19'21

W

1920 J-J

N YTdfcMex gu 1st g4s. 1912
No of

"lieia

Range or
Last Sale

i-j

1

Range

Week's

/tidav
October 16

Ao Low High SouUieni Pac Co ( Continvfd
Bill
106 106
H it T C Ist g OS int gu..l937 J-J 110
Cousol g 6s int guar. ..1912 A-O 103
Gen gold 4s int guar. .1921 A-(»
Waco & N W div Ist g 68 '3»l M-N
04 109 la
Morgan's La it T 1st 7s.l91S A-O 122
lat gold 6s

s 6s.l'J--M

Pitts
it St L See Penu Co
Pitts Clev dB Tol Isl g 6S..1921'
Pins fx
<fc Ch
See Penu Co
Pitts Jimc 1st golil 6s
192J
Pitts it L Erie 2il g o8...ol928

Price

STOCK EXCHANGE
Week Endino October 16

May'OO

117

[Vol Lxxvn.

N. Y.

I

Pore

)

Bond Record—Oonclnded~P«ge 4

N. Y.

D

—

%
1

.
.

110i4Feb'03

IIOI4II2
105
105
17 103 109 '8

100 Feb '03
103>a 106
105 Oct '03
105 May'03
1021a Dec "02

lOlVz 1091a

105

105

100 101
115i4SaIe
104

100

63 14 Sale
*101ia
10534 Sale

80

MS

2
100
1434
11534 26
2
Ibi
1041a
l()liaApr'03
5378 254
52
104 "a Dec '02 s22

100 10319
113 118
103ialll
100 lOlV

10534

105

J

,

10534

1

511a 8434,

81

851a;

10913 Mar'03

108

109 >»

115
9412

114

118>*

J'ne'03

Mar'02

W

W

Extencfe

Imp

gold 58. ..1930 F-A

1949 M-S

Ist consol 4s

WilkeaA East

See Erie
<fe
Wil <fe Sioux F See St P
Winona cfe St P See C cfc
Wis Cent 50-yr 1st gen 4s. 1949 J-J

115
93

941a

30

40

107

1151a

9412 101

94*a

1«

Mar'Ol

108 J'ly'03
11218 J'ly'03

1061a
8534 Sale

109^

May'02

97
84
98

113
110

Sep '02
Mar'03

85

8534

89

89

106
112

108
116>»

110
85

110
933*

M M
NW

80

Sale

21

86

92%.

lUI.SCEM..ANEUi;.S ItO.NUS—^oncliidea.

Monuiactaring

& IndiiMtrial

IVliHcellaneous

Am Thread 1st col tr 48.. .1919

J-J
Bar <fc S Car Co Ist g 68.. .1942 J-J
Consol Tobacco 50-yTg 48.1951 F-A

DwtUSecCorconv

Ist

g

5s. '27

Amer coll tr g 5s. 1 91

A-O

J-J
1910 J-J
lU Steel Co deb Ss
Non-conv deben 58
1913 A-O
Int Paper Co 1st con g 6s. 1918 F-A
Knicker Ice (Chic) 1st g 08. '28 A-O
Lackaw Steel 1st g 58
1923 A
Nat Starch Mfg Co Istg 68 1920 M-N
Nat Starch Co 8 f deb 08. .1925 J-J
Stan Rope <fc T Istg 6s... 1946
Inc<jme gold 58
1946
Distill of

.

V

S Steel Corpcoltr2d58.d'63 M-N

*Mo price

78
105

J'ne'03

Jan '00
54 14 Sale
54 14 497
521a
59 Sale
58
59
60
99 Sep '03
93
99 Jan '99
100 May'02
95
104 105 104
105
93 Feb '03
92
93
911a
.
.

FA

V a LeathCo8fdebg68..1913 M-N
t7S Shi pbldg coll cfe mge 58. '22 F-A
l«t Hf 5sg "A"
1932 J-J

77

90
65
35

1

2

109

110

::::::::::::

70^8 Sale

Friday; latest bid and asked.

89^8

89 7^

Sep '03
Oct '03
1 ^8 Oct '03
109 "a Sep '03
91 Jan '03
69
35

25

Is

J'ly '03

681a

71 14

78

80

511a

6734

B'kl'ii FerryCol8tcon8g58'48 F-A
ChicJccfeStYardcolg58.1915 J-J

110
93

Mad Sq Garden Ist g 5s. .1919 M-N
Man Bch H L gen g 4s. .1940 M-N
Newp Ne Ship D D 58 (il990 J-J

c

DetM

ife

M Idgr incomes. .1911

Hoboken

lO.T

93

Lcfe I gold 58...1910

971a

95

NY Dock

68

80

St Joseph Stk

35

68
131.2

23

80

6734

87=8

A-O
M-N

102

cfe

89

S Yuba Wat Co con g 6s. .1923 J-J
Sp Val Wat Works 1st 6s. 1906
U S Red cfc Ref 1st 3 1 g 68. 1931

100

Due Mar rfDue Apr

MS

ff

Due J'ne A Due J'ly

A;

1021a

38 101 la 108

Mar'03
Mar'Ol
73
82

73
111
79

73

76

72" "96 ii

Fob '02

50

FA

50-yr Istg 48. .1951
Yds 1st 4 SiS. 1930 J.J
St L Ter Cupples Stat'n <Sr Pro))
Co Istg 4 "as 5-20 year. .1917 J-D

102

10034 .T'ne'02

54
60
100 la
82 Sale

cfc

911a
89^8

10838 114^2
91
91

aDaeJan tiDaeFeb

1948 M-S

AmDkc&Imp5s /S'eeCentNJ
AmSSCoot WVag58....1920 M-N

58
77
9334100

lia

64.51

Adams Ex col tr g4s

891a Sep '03

89 la 95

J'ly'03
llSiaJ'ly'OO

104

104

Aug'03

79

85

104

79

Due Aug p Due Nov

9

Due Deo aOptionsal*

II

— ——

.

Oct.

of

Business at Stock Exchanges
EW YOKK STOCK EXCHANGE
WEEKLY AND YEARLY

TRAJfSACTIONS AT THK
DAILV.
eniiiug
Oct 16
J

noJ

Saturday

Monday
Tuesday
Wetluesday
ThursilaJ-

Friday

>;

Eatlroad

j'ar value

Shares
231,982
787.103
536,376
448.608
423.092
729,170

f22, 438,200

74,520,223
51.426.i!00

42.793,050
40,029,400
68,651,750

S.166.331 $299,859,225

Total

H«\e York Stock

V s

State

Bonds

#1,088,500
2,990.000
2,680.500
1.853,500
2,014.500
3,847,600

$14,474,600

1902

1903

Exchange

<Ce

B<mcU

Week endinp Oct 16

Bckles at

Bonds

l.OdO
1.50(1

St

$10,000
'^ji'.o'oo

'iy.obo
1,000

23,000

January

1

to

Total bonds..

Newark Gas 6s 1944. QJ 5135
Newark Con,«iol Gas.. 100 70

6,000

Joseph Gas 5s 1937. J -J
stPauKias Gen 58'44M-S
Syracuse Gas 5» 1946. J -J

$9,500

United(+as,fcElec,NJ 100
100
Preferred

Oct 26

1903

.See

1902

Telearr

t.b

11

10

Amer Teleg* Cable 100

lUdlTelepli of Burtalo 100
it So Amor .100
PotoTeleplL.lOO

'Central

Ches

&

58 1909-29

JJ

$9,500
23.000
$14,474,500

$1,000
231.000
19.943.000

$9,281,850
420.600
628,420,800

1,1 01. 900

3,291.700
745,914.450

100
100

$14,607,000

$20,225,000

$538,123,250

$750,308,050

ip

Kranklin
lIGold .t Stock
1i4H!S.

DAILY TBANSACTIONS AT THE BOSTON AN1> PHILADELPHIA

EXCHANGES

Philadelphia

8

12

61

r.4

101

90
85
94

94
90
96

8S

38
90

1905

Hudson KiverTelophlOO

1
7834

95
94

3

82
100
99

30
ion's 104
140
165

115
7S
47
110

"80"

MarconiWireless'Peleg.u \i ....
liNortli western Teleg. 50 120
J Telepho .100 140
IIN
53 1920 See Stock Kx chaug
75
25
Pacific & Atlantic
Providence Telephone. 50
llSouthern & Atlantic 25 100
Tel Tel <fe Cable of Am. 15

Y&N

iVo'

136
72

list

t

InaliiMtrinI nntl .lliscel
(\>nsol Tobacco
100

82
53
120
'

90'
5

275
102
20

ContiiieuialTobac dob 7s 5100

Cramps'

& En

Sli

lildglOO

100
100
HDlamoiid Match Co. 100
Doininion securities. lOo

5

liCnicible Steel

6

Preferred

3,834

11

Emplio

126
IS
42

22

15
1»4

lia

6

Guggenhelin Kxplorati'ii
HackeiisrtckMeadowslOO
Hall Signal Co
100
Havana Commercial. 100
100
Preferred
Havana Tobacco Co.. loo

lo""

Uaiidcfe

e list

Hudson Realty

20
30

28
50

18

25

21
46

92

96

1

3

30

40
8

4

100
100

Preferred

H

125
125
14Wj 143*
115
125
10 --v 11
85

ImplOO 200

Oil

KT

100
1

M.N 5102

Houston

luterboro

46
65

00
97

100
Preferred
Heoker-Jonos-Jew'l Mill
1st 6s 1922
M-S
Herring- Hall-Marvin 100
1 00
1 St preferred
2d preferred
100

1910

G
9

•4

100

St4'el

Gorhani .Mfg Co com. 100
Preferred
100
Greene (;oiihoI Copper. 10

1158

45

412

Preferred
100
lIGeneral Chemical ..100
100
11 Preferred
Gold Hill Copper
1

Hoboken

5 V,

39
127

100
Preferred
100
Electric Lead K«luo'ii.60
Preferred
50
Elutrio Vehicle
10(
Preferred
loi
Electro. Pneuiu'ic Trail 10

125
150
81

Ask

Hi,i

225

Electric lUial

Teleplioiio

Am De For't Wireless

Commercial Cable ..100
Ciommer Uu Tel (N Y).25
Einp & Bay Stato Tel 100

BONDS

BK. and mis. bonds

51

Madison Gas Os 1926. .A.-0 5106
Stock Excli
110,fe I ndC Nut it 111 .100
J-1)
Isl 6s 1926
50
Providence Gas

—

State bonds

tins Securities
^i,(
Ask
50
81
aokson Ga8 Co
A-O 5100
5s 1; 1937
100
17
20
Kansas City Gas
A-O i 98
99
15s 1922
100
IlLaclede Gas
85'.;
IOC
11 Preferred
60
65
liafay'cGnslat 6s'24.M-N

J

5s 1948

130,489.290
129,793,399
4,880.309
3.156,331
blocks No. shares
$299,859,225 $466,854,900 $12,147,759,675 $14,221.69V,0r>0
Par Taiud
$502,300
$412,400
$1,900
$91,500
Bank shares, par..

Oovernmeut bonds

1215

U)i;.fcWabV lst6s'25.J-l)

Stocks

Week

5

.

THE CHRONICLE.

17, 1903.J

Volume

.

I

100
80
140

(full }y,iu\)

106"'
5

25
120
82

Iniornat'lKankingColOO
103
Int'n'l Merc Marine. 100
5
Oct 16
15
16
6
Preferred
100
Unlisted
Bond
Listed
Bond
Listed Unlisted
iy03
95
100
Col
tr
deb
4
'2l922op'07
shares
sales
shares
sales
shares
share'
Electric CoiiipniUes
10
International Salt
100
li>a
32
40
1st g 5s 1951
Chicago
Edison Co... 100 140 145
3.492
$24,000
5,000
$6,609
6.269
7,798
Saturday
stock
Kxch
International
15
Silver.
100
El
111
N
V
Edison
Brk
4s
56.700
13,338
21,546
32,000
"36'
17,432
19.600
Slouilay
Preferred
40
100
57,400 GenEldebg3i28 SeeSt'k Exch list
10,875
9,866
33,500
10,787
17.643
Tuesday
100
1st 6s 1948
J-1) 5 97
61.000 Hartford (Ct) Eloc Lt loo 225
4,240
19,4-^3
13,000
46,000
10,857
Woduesilay .
140
175
.Tolin B Stetson com.. 100
57.000 lIKingsCo ElLi&PColOO 150
8,181
12,352
27,500
12.617
9,100
Thursday
105
Preferred
160
100
El
t
Narragan
(Prov)
Co
50
10,305
84,500
30,786
18,000
21,383
2a270
Frldaj50
Kitchener Gohl Mining.
35
El LcfePowColOO
7
75
Lanston Monotype
20
8
65
Preferred
100
45,731
$340,600
94,159
$167,000
87,971
93.263
Total
Lawyers Mort Jiisur.lOO 150 160
RhoIslElecProlecColOO 130
18
Lawyers' Title Ins. ..100 290 295
10
United ElectricofNJlOO
31^ 321a
LightFueli&P of WValOO
6012 61
J-D
43 1929
HLonllard (P)pret ...100 110
Ferry
Companies
10
30
Madison
Garden.
.100
Sq
Securities
2d 6s 1919
M.N 60
4
Brooklyn Ferry stocklOO
II4
138
B&NYl8t63 1911.J-J 106 108 Manhattan Transit 20
A Weekly Seview ot Outside Market will be found on a preceding page.
5
6
Mex Nat Construe. pflOO
Con 5s 1948 6'ee Stock Exch list
80
84
Monongahela
Coal.
.50
R
9hi
Y
Jfc
E
K
Ferry
stk.
100
N
Street Kail^vnys
Street llnilwnys
Bid Ask
^j,j
92
Ask
Preferred
50
Ist 5s 1922
301a
M-N 5 90
50
100
42
Grand Rapids Ry
NEW YOKK CITY
100
1021a
N Y & Hob con 5s '46. J-D 102 103 Mo.sler Safe Co
85
90
Preferred
100
17
19
100
Hob Fyl8t5s 1946 AI-N 5103 108 National Carbon
BleeckSt&FulFstklOO 33^4 34
PhUa
list
Ky
See
100
Intllanapolis
St
lOL
87
89 4
Preferred
100
..J-J
99>2
100
N
Y<&N
J
lst5sl946.J-J
1ilslmort48 1950
15
17
20
25
J C Hob cfe Paterson..lOO
60
245
50
UNat Enam & Stamp 100
10th cfe 23d Sis Ferry 100
flB'y & 7Ui Avestk ..100 242
72
100^2
4sgNovl 1949. ..M-N 654I4"12 66 H; 1st mort OS 1919. ..J-D 5 97 100
80
UPreferred
100
Hist niorl 58 1904 ..J-D 100
Lake St (Chic) El stk. 100
90
35
National Surety
100
34
UUuiou Ferry stock .100
f2d wort 58 1914 ...J-J 104 105
noo
103
J-J
92
4
Kxch
list
l8t5s
1928
NewBrunsCannelCoal
Stock
10
90
Hist
5s
1920
M-N
Con 53 1943 6Ve
115
45
50
IJLouisv St5sl930..j€feJ ni2
1]New Central Coal
20
B'way Surf IstSsgu 1924 ilOl 110
113
3
New Eng Consol Ice. 100
2U 5s int as rentsU 1905 i 99 100 ^z Lynu<fc Bos 1st 5s '24. J-D nil
Uailrond
MinneapSt Ky5s SeeStK Exch hst
N Y Biscuit 6s 1911. M-S 108 112
TlCenflCrosst'n stfc..lOO 265 266
7
100
8
115
125
Orl
87
120
New
Kys
Co
Y
Mtge
cfe
Security.
...M-N
«118
Buffialo
N
1
00
&
Susq
pref
...50
1922
lilstil OS
28
100
2a I4 Chic Peo & St L pref. 100
Preferred
15
20
15
UNew York Dock
100
8
TICenPkN<fc EKstk.lOO 205 210
82
J-J i 78
40
190
4^23 1952
UPreferred
100
Prior hen g 4 '•2S'30M&S 5106 108
T^Chr't'rJfc lOthSlstklOO 180
90
99
881^
5
North
stock.
100
4
EiCli
ast
Chic
Str
82
N
Y
Transportation.
..20
Con mtg g 5s 1930. J&J
Col& 9th Ave 5s Ae« Stock
15
19
165
North Jersey St stocklOO
20
25
Nicholson File Co
Income 5s 1930
100
Dry D E B <fc S—
0'4
534
M-N as
69
Nor Am Lum'r & PulplOO
114
48 1948
Ch R I & Pac 5s .See Stk Exch hst
lilst gold 5s 1932... J-D 111
7
102
4
Pat Ry con 63 1931. .J-D 5121 128'^ Erioconv4sAprr53A&0 5 85
87
llOntario Silver
100
llSorip OS 1914 ....F-A 100
5100
25
A-O
70
27
410
2d
1914
60
Otis
Elevator
com
100
405
68
Mex
Centdeb
3-48
100
(w 1)..
U Eighth Avenue St...
74^4
851,
74
82
100
Preferred
78
106
Roche.ster
Ry
105
Northern
Securities..
85
100
....F-A
100
1914
6s
fscnp
26 12 2712
96
100
98
Preferred
30
33
Pittsburg Brewing
Pitts Bess & L E
50
50
li42d&GrStF'y stk..l00 410 415
41
42
75
Con 5s 1930 See Phila list
Preferred
70
74
Preferred
50
70
50
fl42d St M & St N Av 100
183, 19
5100
J-D
105
109
2d
30
Pittsburg
Coal
100
.M-S
108
5s
1933
20
1910
Va
&
South
western.,
loo
Tjlstmort 6s
91
6634 67 14
95
So Side El (Chic) stk. 100
Preferred
100
96 100
112<lmconie 68 1915 J-J
U5
SjTacuse Kaj) Tr 5s 1946 5 99 101
Pitts Plate Glass
100
LiexAT <fc Pav Fos See Si k Exc list
Industrial and niiscel
lOi-i
100
15
95
Pratt & Whitn pref.. 100
Metropol Securities See Stk E X list Unit Rys(StLTrans) 100
100
59^2
61
367
370
list
Preferred
100
Procter*
Stk
E
X
Gamble
100
See
Alliance
Realty
90
Street
Ry
100
Metropol
Gen 4s 1934. ...See Stk Exch list
Preferred
100 195 200
9
llAllis-Chalraers
100
8
Ninth Avenue stock. 100 190 200
LIO
UnitRysSauFran SeeHtk ExcU list
Realty Assoc (Bklyu)lOO 104
86
100
Second Avenue stocklOO 205 210
li Pref erred
10
99
97
103
100
51
Royal
BakPowd
pref.
Wasli Ry & El Co....
100
47
IJAmer Bank Note Co. 50
Tllst mort OS 1909 M-N ilU'Z
39
314
63
3.-i'-j
61
110
100
Russell
&
Erwin
t
F-A
Preferred
25
HOS
12
American
Can
com.
3
1948....
..100
ConsolSs
29 12 Safety Car Heat & Lt 100 156 165
71
72
231-4
180
J-D
48 1951
Preferred
100
TISixth Avenue stock loo 175
Vj
50
55
1
Seminole Mining
American Chicle Co.. 100
90 100
5 t
1] West Chicago St ....100
Sou Boulev OS 1945. .J-J H08 109
85
106
Simmons Hardw com 100
Preferred
85
80
IfCong 5s 1936. ...M-N 5 70
100
So Fer IsC 5s 1919. ..A.Q iH)5 108
126
Preferred
"8
.\merican Elevated
100
Third Avenue See Stock Exch list
434
2d preferred
Amer Graphoplioue...lO
100
4
P & M 5s 192^ 107 108
Gas Securities
1201a
Tarry
25
30
8^4
9
Simpson Crawford Co lOo
Preferred
Yker8StRR5sl946A-0 108 109
10
YORK
NEW
'96
87
77
116
95
Deb
St
6s
5s
Amer
Press
85
'24
op
'05..
J-J
Sta
1st
Assoc'n.lOO
i
28th & 29th
30
Singer Mfg Go
100 300 340
Cent Union Gas latos... 5103it2 1061-2 Amer Shipbuilding.. .100
25
TiTwenty-Th'd St stk 100 402 410
31..!
96 12 StandarJ Milling Co. 100
5
103
J-J 102
Con Gas (N Y) stk. See St k Exc h list
Preferred
90
100
Deb 5s 1906
19.
16
Preferred
4
EquitGascon5sl932 See Stk E X list Am Soda Foun com.. 100
2
100
Union Ky 1st 5s 1942 F-A 115 116
65
270
60
300
109
preferred
75
10S>-2
Gas
100
1
st
65
HMutual
100
Weetche8tl8t53'43J-J
Standard oil oV 'n J . 1 00 618 622
2(1 preferred
12
16
New Amsterdam Gas
100
BBOOKLTN
25
35
Standard Coupler comlOO
American .surety
165
1st consol OS 1948. .J-J 1031^ 105
50 160
•-I2
130
Exch
List
104
Preferred
100 115
NY GEL H&P See Stock
Am Strawboaril 6s... F-A
Atlan Ave os 1909. .A.O no2
Is
50 t
A.O 110
Amer Tobacco com... 50 225 275 Storage Power
N Y <fe East River Gas—
Con 08 B 1931
111
142
Swift & Co See Boston St k Exc h'ge
l8t5s 1944
J-J 5109
UPref erred
100 2:126
Impt 5s See Stock Exc li list
lOlia
108
1st 5s 1910-1914. ...J.J 5100
J-J 5106
Am Typefo'rs com... 100 28 32
Consol OS 1 945
B B & \V E 5s 1933.. A-O 101 102
28
105
5102
95
Tennessee
Copper
25
stock...
10
230
1927-M-N
Preferred
235
Nor Un 1st 58
100
90
281a
Brooklyn City
23. UTexas & Pacific Coal 100
80
90
Amer Writing Paper. 100
2
Con OS See Stock Exch list
llStandard Gas com ..100 130 135
III2
A.O 5106 110
Preferred
11
1st 6s 1908
Bkln Orosstn 58 1908. J.J 103
UPreferred
100 150 155
100
67I2
425
440
Title Guar <& Trust. ..100
M-N 5110 111
69
Bkn Hgts 1st 53 1941 A-O 105 106
l8t 5s 1930
5s 1919
J-J
150
20
Title Ins Co of N Y'..100 140
HBarneycfeSmCar ...100
Bklu y Co & Sub See Stk Exch list
18
OTHER CITIES
11
14
Trenton Potteries coinlOO
IjPreferred
Bklyu Rap Tran See Stk Exch list
100 110 120
80
86
100
55
Preferred new
160
Ref K 4s 2002
J-J i 73
Bliss Company com
7
50 140
Amer Light & Tract. 100
75
85
Directory
new..
100
80
90
Trow
Preferred
100
Preferred
50 140 160
TlConey Is. <& Bklyn ..100 385 390
'8
10
Union Copper
Bondcfc Mlg Guar. ...100 275
Isl cons g 4s 1948.. J J
98 100
Baltimore Consolidat See Bait list
1
85
Union Switch <fc Signal 50
Borden's CondMUk.. 100 11
117
BrkCifeN 5s 1939.JJ 113 115 Bay State Gas
50
105
50
Preferred
95
Preferred
Gr St&New 1st 5s '06 F-A 100 102
Binghamton Gas os 1938 i 93
100 104 106
92
98
4
5
Union Typewr com.. 100
Camden Land
Gr'pt (fcLonmer St 1st 6s 105
107
Burtalo City Gas stocklOO
3 t
98 105
100
1st preferred
Kings Co. Elevattd—
Celluloid Co
Isl 58 1947 See Stock Exch list
100 112 114
98 105
100
2d preferred
l8t 4s 1949 See Stock Exch hst
Cent Fireworks com. 100
20
12
Chicago Gas See N Y Stk Exch Ust
333
3
UnitBoxboard<£; Pap.lOO
83'.^ 84
90
Kassau Eleo prel
100
93
60
Preferred
Cincinnati Gas & EleclOO
50
..100
I712 I8I3
100
lis
Preferred
84
100
5s 1944
A-O 110 112
Central Foundry
Col Gas L & Heat comlOO
100
7^«
1
2
100
l8t 48 1951
See St k Exc h list
96^! 100
10
U S Cotton Duck
Preferred
Preferred
100
100
20
N Wb'g&Flail8tex4'23 100
54
Deb 6s 1919 op 'OlM-N 48
U S Envelope com. ..100
Consol Gas (N J) stk.lOO
65
75
100
UPreferred
Stein way 1st 6s 1922 .J-J 5114 115
so
Century Realty
J-J
S8
1st 5s 1936
100 100 110
5
US Light & Heat.... 10
Cnesebrough Mtg Co 100 440 460
Consum Gas (J City)
39
M-N
5100
Oliic
35
PneumaticTool.lOO
1st
1904
IJU S Red & Refining. 100
6s
OTHER crriKS
100
UPreferred
95
1IClatlin(H B) Islpref 100
90
50 t
UDetroit City Gas
Buffalo Street Ry—
86 12
95
83
90
100
1IU S ShipbtiUding ...100
Essex & Hudson Gas 100
1i2d preferred
100
l8t consol 53 1931 . F-A ni2
UPreferred
98
113
62
66
90
Fort Wayne 6s 1925.. J J
llComraon
100
Deb 68 1917
Bonds— .See Stock Exc hlist
A.O 5105 107
65
60
Col & Hock Coal& 1 pt 100
UGas & El Bergen Co 100
Chicago City Ry stk. 100 170 175
86
U S Steel Corp ne^v 5s See Stk E X list
1st g 5s 1917
84
Grand Rapids Gas
J-J
Chic UnionTrac See St'ck Exch list
Coltrsf 5s'51opt '11 .. 5 9934 101
1
F.A 5100 102^4 Compressed Air Co... 100
Mist 5s 1915
103
Cleveland City Ry
Coltrsf 5s'51not opt.- 5101
lOO
70
49
50
Consolid Car Heating 100
60
Hartford (Ct) Gas L...25
lia
Cleveland Electr Ry.loo
Universal Tobacco... 100
33
66
58
59
25
67
Hudson Co Gas
100
HCons Firew'ks com .100
5
2
Columbus (O) StRy..lOO 8434 85H=
100
Preferred
65
UPreferred
55
100
5s K 1949
See Stock Exch Ust
Preferred
Gu 150 160
3 '4
West & Bronx T &
luo loo\ 101 I4I Indiana Nat <fe 111 Gas—
4
Cons Ry LtgtfeKef ng. 100
Coliun Ky con 5s See Pli ila list
11-..
Westmgh Air Brake. .50 U30
8
Consol Rubber Tire. .100
Ist 6s 1908
M-N 53
Crosst'wn lst59'33.J-D 104 106 V Indianapolis Gas slock 50
White Knob Mining. 10 t 8I2
91a
55
65
Debenture 4s
6
Detroit United Ry.Se^Stk Exch list
Worthing Pump pref. 100 107 111
10
l8t 6s 1920
M-N 5103 105 V2 Cons Storage BatteryiOO
i Bayer pays accrued interest.
not a very active securitya Ex rights.
t Price per share.
li Sells on stock Excliange. but
t Sale price.
Boston

Weekending

NY&y

Outside

W

.

t

.

I

M

I

I

4

BOSTON STOCK EXOHiNGE-Stock
Share Prices— Not

Monday

Sit turd ay
tk-t.

net.

70

13

WedMsnay

Oct 13

Oct 14

STOCKS

Thursdaij
Oct. 15

03
S)J>4

esag
8S»4

250
lS7»al3S

*-2il
•-3.-.

'240

\M

166

•171

634

134
•118
•188
'166
•275
135

283
136
45

•2T:>

136
*40
•li>

T7i3

-M\t

•40

'213

1354
19

77 S.

194

202
'76'«
•67

-90

•

-90

95

69»« 70

84^

•84
•163
•91

92
10»

109

277

*

•l>ti

166
•275

191
202

202
74
7o
33
•15

774
70

68=8

84
•163
-91
109

78
95

78
•90
69

84

200
75
70
33
•15

202
74
70
35

•

6834

92
109

240
166

166

137

235

166

Last Sale 17 i
296
138
118
190

*

2i'>*

•134

138
118

*

134
117

Last Sale lyo
Last Sale 16(>

275

283

283

275

833*

844

•163
91

91

108

108

202

166

Aug'ii3

Last Sale

2i'2

Sep '06
202
76

202

202
75

754

•200

754 •75

69

914

78
92

6934

693,

-69

70
33

834 84

71
84

84

84

91

•

6938

LastSale

-16:!

91
•108

70
32

32

164\^

»9
109

t9
109

Last Sale

89
109
/6-34

LastSale 38^

71
•3

145

114

11

71
4

69 4
•3
13

71
•3
12
108

3I4

12
71
4
13 4

4

314

14
109

12

13

107%

10^34

117H.
123Hi

116
121

1164117 '1164117
122 4 120 1214 1204122

69

69 -a

7^1
.4I4

73«

Sia

6S

4'4

1334

74

734

8

68

G7

8
67

-44

5
11534
i

5
11534

7

7

7'4

*5 4
•54
234 4 '235
234 235
231 240
144Hil44»2 140 1404 H04141

•54

32
77

Si

•16834
*\H>

*5

'230
•142

235
145

31

3134

314 314

76^4

75'4

76

7538

1*8

1=^
•

212
-8

7^4

102
26
3"*

16834

*

l**

138

123

1-23

212

*212

S'4

123

25
31*

•

94 »a 9412
39
39

93
39

94
39

27»4

2714

27 14

2714

734

.......

94
39
27

314 ai4

76

76

7534

Last Sale

16834
13b

210

212
734

•

210
734

•

noo

10034 102

101

LastSale

25

25

3^8

94
39

94

94

3»34

383,

2718

27

27

'

39

274
Last Sale

^b

71^4

7134

LastSale
14»a

143j

12=8

60 't

574 59

-70

-80

10
80

•
•

-67
•81

72

••70
•

80
10

•

ao
68 4 68 4
»i
81

3
4

3

34

4

ib^
•50

37»«
,1
9

4
3538

124
574

iS'e

••70
-

79
67 '4
81

SSi

3

4

4

36^8

36

•50
*-50
1
•7>2
•74 9
-74
•154
164 •154
•loVi 164

•80
••25

-7

21

-80
-50

8
21>a

••60
-60
•2>2
3

•420
•14'2
•O-a
•!'•
40'3

39
•69
•107
2»4
734

•4 '4
••75
5I2
4>a

•62 Hi
"i
•30
••70
••60

433

3
4
37 14
1

9
1*>4

430

435

435

15

15

15

7

7

430

'1^

•64

74

^75

oO
4

1*4

463b

2»8

4>s

1
5",
4'v
1
6^4

37

4U
54
•4'a
-624

•"75

6

36

1

-•70

1

'•60

44

85

54

-1»4

V-H.

*l^

•9

9 '4

9o

54

17

17'.

9

Sfb

2^8

2'*
b'4

9
•75

b>*

•74

4'4
1

4'4
••75

534

1

54
4»s
•624

6

•>6

36^8
•81'4

4^8

85

2 '8
6>«

36>4
••70

14
IH
U

80

54
9 '4
24 4
2^8
(i»e

63

63

62

63

••75

1

1

1

4'4
1

4
44
-J

i

30 4

1

5'6

52
»4

44

1734

44
85

85
1
1'4

1
1*4

9

9
•75

36--'8

17

o"!,

17'»4

9%
--i

2 '8

938

24 'b
3

64

7

6234

63

1

•24
•425

1

<fe

Santa FelOO
100
100
100
100

100

pref
Pacilic
pref

100
100
100
50
109
Do pref
50
J'ly'03 Wisconsin Central... 100
J'ly'03
Do pref
100
Wore Nash & Koch. .100

Vermont <fe Mass
89 4 West End St

Sep

'03

13

58

584

-•70

16

161
170

405

10
79
07
85

79
•64
'75

•TO

3
435

&

3

••50

-24

'70
3

435

435

-7
•4

8

•75
•75
534
j).
434
5
••6-J4
1

••62

-•70

•60
6
51

*16

lOS

64
3d
1
i

7

51

•4'4

17
4^8

85

85

-14
•14
914

54

14

79
70
* 79

10
79
70
S5

74
63
1'4

1,015
1,800
1

2,250

Oct 12
Oct »
Sep £3
Sep 26
10738 Oct 12
116 Augll
114 4 Oct 8
634 Oct 16
65 Oct 15
34J'ly 2
115 4 Oct 15
Oct 13
7
54 Oct 16
225 J'ly 24
138 Sep
30 J'ly 24

*2 4

430

106

•24

74
4
•76

73

54
44
C

36

6
51
J 6

63,

51
16 4

-44
-

1

4'b

85

rfO

4

14

•75

Last Sate

17
9

17

244

2434

"^4

23,

B'8

^^'8

63

•874

9-4

63
I'b

11
69
3
12

3

3834 Oct 14

440

106

Calumet

&

(-Ltd).

5

Hecia

25
10
25
25
Tr Co reels.. 10

Catal]>a (Silver)

Centennial
Central Oil

Cochm

Cons Mercur

Gold...

Continental /inc

5

25

Copper Range Con ColOO

Daly-West
Dominion Coal
Do pref

20
100
100

24 Elm River
74 Krankliii
44 Granby Consolidated.

12
25
10

1

Guanajuato Consol..

5

54
44

Isie Hoyale (Copper).

25
25
25
25
25
25

-Mass Consol
Oct 'Oo .Mayilower
Michigan
6

37-4 .Mohawk t
Sep'0:( -Montana Coal«fe (..'oke
5
(;ct '03 .Montreal <fc Boston..
25
Miiy'UiJ NiiTioual

62

27

7
7134 Oct 1

834

Feb

48
50

J'ue

Mar

02
Jan
_
66 4 Fel>

Mar

784 J'ly
45^8

Apr

99
31
254

J'ue

175

Jan

238
217
85 4
91

Apr
Apr

Mar
.\pr

Sop
J'ly

.25

4 Apr

31

J'ly

90

May
Mar
Aug
4 Aug

10

113
94
178
99
117

J'ly

Mar
J'ne

3 4 '8 J'ly

55 4 Sep
152 4 May

19 Dec 32 4 J'ly
764 Dec 91 J'ly
934 May
4 Jan
21 J'ue 3734 May
11278No\ 1354 Mar

Jan 23

_

9 Oct 1
J'ly 27
12 4 Oct lb 39^8 Feb
57 4 Oct 12 89 =8 Jan
50 Jan 14 •80 Mar
10 Sep 2y 28 Jan 12
79 Oct 13 102 Feb 28
674 Oct 13 108 Feb _
8O34 Oct 1 110 Jan 29
3

Oct 10

34 Jan

3

333, Oct 14
•50

•25

Eeb

Apr

S)

Jan

18

84 Mar

5
t

75=8 Marl',.
14 Feb 10
1234

Mar2

314Feb25
6 4 Feb
Mario

•95

85 4 Jan 117 Sep
46 Jan 674 May
29 Jan 33 4 Apr

114 Jan
80 4 Jau

134 Jan
49 Jan
29 4 l>ec
79 4 Dec

154 Sep

91 4 Sep
19»8 Oct

624 Mar
4634

Jan

974Jan
•72 4 Mai 1124Apr
22 Dec 334 Apr
91 Feb 106 4 Apr
50 4 Jan 115 4 Apr
89 Jau 117 Apr

4 Dec ci 24 4 Apr
Aug 434 Mai
53 4 Nov 78''8 Feb
14 Nov 334 Apr
6 Dec 164J'Iy
21 Not 36 Jan
34 Jau 134 Mai
•37 4 Dec
Jau
1
6 Dec
9 Deo
20 4 Jau 3934 Apr
12

2

Mm

;

'-2

'

•

-J

:1

:95

Dec

J'lii

7 Oct 6 144EeblO
23
620 204 J'ly 24 394 Feb 10
200 •45 Oct 12 •90 Marl 8 •40 J'ly I'zo
2>^Oct 13
10 4 Mar
8 Feb
5 4 Sep
40
420 Dec 650 Feb
3 400 "J'ly 24 551 Marl
EeblO 10 Febl
•10 Apr 12
Jan
•OS
11 Jan 28 Mai
1,385 12 J'ly 24 31^8 Feb 1
Sep
834 May
53^
64 Dec
94 J'ly
25
26 J'nel8 40 Sep 2 •25 Apr
2 Jau
"900 1 Sep Z6 I ^'32 Jan
138 Jan
2 4 J'ly
104 Sep 24 16 Mar24 15 Oct 1934 J'ly
25,200 37 J'ly 24 75 Feb 13 4334 Mar 65 4 Oct
3(ji2 Jan 20 48 4 May
184 Mar 56 J'ly
571
54 Jau 146 4 Sep
4,705 59'.>Oct l;i 131''8Jan 1
113 Dec 119 Jau
100 106 Oct 16 118 4 Feb
Marl
54 Mar
5
2 Oct
14 Jau
167
-My
1534 Feb
14
Feb
7 4 Dec
7
240
-J'ly
24
334
Apr23
54
1,130
J
3 Jan 12
4 Dec
5''e .aji
800 •62 4 Oct y
" C?l/
34 Dec
Feb
J7
25
£,0
54 J'ly 10 17 4 Feb
610
J'ly
.May
24
Feb
Dec
21
3
18
12
4
4
175
338 Mar
Jan 2
•75
2
1 4 Sep
8«^P l»
'800
Nov (ii:t4 Mar
57eJ'ly24 II 4 Feb
7
J'ly
24 58
I'cb 13 d21
Jan 494 Sep
1,495 31
6 Oct
8 Marl 3
3 J'ly
3 4 Aug 5
4 <4 Mar
2=8 Jan 1
70 Aug 6
I'f Jiy

200
25
Old Colony
S4 Old Dominion (Cop).. 26 5,317
6
702
25
51
614 Osceola
637
164
174 I'arroltlSilv A Copp) 10
135
"3
I'htenix Consol t
25
4
11
26
85
85 yuincy
210
25
14
14 Rhode Island
470
1--8
14 Santa Fe(Gold& Cop) 10
10 1 ,085
»
9-''b Shannon
-70
25
Tamarack
25
50
Aug'Oii Tecumseh
i'ly'03 Tennessee
25
i:i
25
To
Sep 'oa Trimountain
25 1,340
54
534 Trinity
100
Aug")3 United Copper
/5 4
6,200
Mining
25
UnitedStates
17
i8
9
9 4 Unit States Coal &01I 25 1,495
4 85 1,581
2538 Utah Cou (Gold)
25
640
25
24
24 Victoria
25 1,070
Winona
7
74
247
25
6:5
Wolverine
63
260
•75
25
Wyandot
1
'Bid ami asked.

Oct

141

72

No\ 130

310
204

954 May 6
184Febl6
574 J au

6 Jan
130 15=8 J'ly 24
850 •75 Sep 25

50

iBeforepay'lotaaaeas-UciiUedlnlOOS. dBeforepay'tofasse-ss'ta called in 1902

8

-Vpr

Apr
Mar
Mar

122 4Febl>< 115 Jan 123 Sep
l()94FeblS 155 Blai 18638 Apr
14^8 Feb 2 4
12 Dec 174 Jau
79 4 Jan 22 73 .-Vpi 8O34 Jau
534 J an 22
334 May
44 May
127 Jan 6 122 4Api 13934 .\pr
624 Jan 2 25 Jan 79 '8 Aug

Augll

33

50

Coluin

4

111 Jan 10
53 Jan
31 4 Feb
Sep 30 15 4 Feb 11

91

543
389
10
10

Anaconda

Britisii

2

Augl

58:-)

iVlinin${

16

Mar
Mar

7

)9

83
107

280

Sei-

:;

24

148

Nov

\i

1344 Jan

May
Mar
Apr

73 4

150
123
196
160

47 J'ly
Feb 1(1 172 Jan
3734 Feb 18
33 Dec
;ii6
Jan 7 92 Jan
28 »8 Apr2r. 224 Dei
225 Jan 7 210 Jau
o ^i Mar
170 Jan
232 Marll 230 Jau
212^0" Feb 1
206 Dec
May
91 May II
(SA
7'.'
85 Jan
71 Jan 20 6 4 '8 Dec
25 Jan 12 25 Nov
8434 fan 10
58 Jan
1044 J an 6 103 Oct

26 Feb 11
86 4 Feb 14

Sep

166

14 Oct 12 2 4Jiin29
I'^sDec
33b .\pr
2434 J'ly 10 86 Jan 2 87
Nov 93 4 J'ne
65 122 4 Oct 14 139 Jan 2 135 Jan 151 Apr
9 Apr 24 20 Jan 6 21
Dec 41 4 Sep
547 197 J'ly 15 237 Jan 9 216 Jan 250 J'ly
Oct
10
734
Febl3
Jau
10
104 Oct
6
50
100 Jan 177 J'ly
107 99 J'ly 27 132 Jan
25 J'nell 2634 Jan 15 26 Oct 27 Jan
28 J'ly 8 2934 Jan
28 Jan 30 Oct
134 Jan 12
5 Apr21
2 4 Mar
100
1 4 Aug

Mg.

pref

M ar

42
180

96 4 Sep
106

350

.

Do

Jan G
Jan 2
1964 Mar24
170 Marl9
286 Feb 19
143 4 Feb 10
1-25

Highest

9-'S8 Mar
7 Nov
Febl7 244 Jan 285 May
Feb 16 I1I7134 Oct 33234 Apr
4834 Keb20 364 Nov 4134 Nov
4,:<54
aa'sEebl
82 Nov 87 4 Oct
1,527 744 J'ly164'<4 AuglO 190
Feb 2 170 Jan 190 Sep

50
476
118

2u
<fc

25
•.•^1
Arcadian
25
Sep '03 Arnold
25
25
74
74 Atlantic
2138
22 Bingham Con Jlintfe S 50
••50
-70
Bonanza (Dev Co)... 10

LastSale 75
*60
1
•50

LastSale
LastSale
04 y'"
5^
LastSale

234

8,091)

loo
100
40
134

-75

Last Salt c*4
Last Sale 75

834

9»4

713

West End Lund
WestTeiep & Teleg.lOO
Do pref
100
Westing El cfc MIg .. 50

•70
*

5

834

244

•874

.44^

Last.!>ale
6
64
35
354

13b

24 4
63

44
54

-75

94

if^i,

4
*64

4

54

14

17
9
2

24

14

75

75
917
8,274

6,301
9,532

14 '8

74
44

-6
•35

179

34
334 Adventure Cou
190
25
Allouez
110
44 44 -44
5
25
33'4 353p
314
38 4 .A.malgaiuated CopperlOO 46,774
LastSale I
Sep '03 Amer Gold Dredging 5
LastSale 74
Oct '03 Am Zinc Lead <& Sin. 25

I08

4
74
44

821

United Eruit
100
3838 United Shoe Mach... 25
38
27
27 4
Do pref
25
Sep '03 O S Leather
7
100
Do pref
100
U S Rubber
100
Do pref
So'^'i'" Sep''oa
100
13 4
14
100
U S Steel Corp
58-'8
61'\
Do pref
100

M

•>2

pref

Union Cop L'd

305
157

1

96

3

•1U6
-2
24

108

Do

'Oo

tl88

>•<

.

2

Oct
Jlarlo 297 4J'1H

I

1

Sep

190
171

4>liiy21
165 Mayl;>
Sep 25
7!f 196
-Vug
510 74 J'ly 25
115 68 Sep 25
67 30 J'lyu
4
7 J'ly 8
75 Jan 5
32 91 4 Oct 14
93«8 Dec
2,193 6634 Aug 8 1044 Jan
97 834 Oct 14 96 Jan 2
86»8 Mar
a;162 Sep 8 178
Feb 25 172 . an
Aug
87
96
4
97 Feb 10 92 4 ( )ct
38 108 Sep 10 116 Feb 14 1114-Dec
1634 J'ly 23 2638 Jan 15
194J au
38 4 J'ly 23 52 Jan 15 39393 iin
Sep
24
2 144
150 Jan 14 145 > ov

Do

pref
100
4 Anier Pneii Serv
50
134
Do pret
50
111-8 Amer Sugar Kelin
100
117
Do pref
100
l-i44 Amer Telep
Teleg. 100

J an 5
-\pr2':

J 'no 5 195
.I'ne 6 177

16 290 J'lyl7
133 Sep 2
100 115 J'lyl7
190 J'ly 8
160 Jan 5
57 270 -Vug 7
67 131 J'ly 20
42 Mar 9
173 4Mrtyl.i
405 17 4 8ep 25
347 77 Sep •:9
2(1
10 Sep 28

Amer Agricul Cliem.lOO

7 4 Amer Woolen
100
66 4
Do pref
100
i4
Sep'oa Boston Land
10
'
1154 Ciimberl TelHn & Tel 100
Oouiinion
84
Iron cfc St
94
54
54 East Boston Land...
230
230 Edison Elec Ilium. ..100
143
146 General Electric
100
32
;i-J3^ Mass'chusettstiasCoslOO
764
77
Do pref
100
i6634 Oct '03 Mergenthaler Lino.. loo
-14
14 .Vle.xican Telephone., lo
40
AugOa N E Cotton Yarn prel lOO
'121
1234 N E Telephone
100
9
J'ne'O;^ Plant Comp new com 1^)0
210
211
Pu Imau Co
100
•
734 Keece Button-Hole.. 10
1004 101 SwLft ffc Co
100
i'o4
Aug'03 Torrington Class A.. 2

•ftO

•

1134

69^8

,.

315 85
192 244
254 134

100
100

pref

Boston & ProvuleucelOO
Clue J uuc Ky <& U S V 1 00
Do pref
100
Oon & Mont Class 4.. 100
Couu A Pass Riv pref 100
Conueclicut River.. .100
Fitcli Durg prof
1 00
Houston El'tric com. 100
Maine Central
100
.MiVssEleotnoCos
100
Do prof
100
Me.xican Central
100
X Y N H & Hart.... 100
Northern N H
100
Norwich & Wor prof 100
1)1(1 Colony
100
Pere Maniuette
100
Do pref
100
Rutland prof
100
Savannah Elec com.. 100
Seattle Electric
100

Do
714 Union
84
Do

544 Auglli 89 '8 Jan 10 IW laii
Angle 103 4 Jan 10 9 4 Mui
Dec
J'11019 262 4 Feb 4 256
Aug 5 154 Jan 5 149 DfC
23 230 Aug T 250 .A.pr 8 230 .J'n.

2,052

pref

Do

95

Last Sate US
.May'Oa
15
144 l-*4
16
- 6 4
74 •64
74
74
Last Sale 40
Sep 'O.i
-14
•14 1*4
14
14
14
Last Sale /04 Sep '03
42 4 44-6
44
4.) 4
424
47
3y4
38 4 38 4
39 4
39 4
Ii034
60
70
614 61
65
1434
•*64

75

SJg

24

8

-90

51

17

24

64

-•60
1
5'4
5^8

16^ 17
9
24

109

-2

51
•164 18
•434

594 06

214

51

85

39

39

106

»

5

3334

••50

24

Feb "03

Do

Boston it. Albiiuy
Boston Elevated
Boston ifc IjowoU
Boston <fe Maine

65

-50
1
*74 9
•154 164 >'14 4 15 4
10
••75
•8')
^80
'^•SO
•25 ^50
LastSale 50

70

1'4

•74

34
44

ly-'4

7
7
74
204 204 '20 4 214 •204 214

44I4

734

34

10
80
68
81

•44

-7

13b

2I4

68
81

7

44 '4 46
39 "i,
39
39
6UJ4
69
67
lou •107 109

14

«^»

81

••50
2

IHi
*li4

5 '4

'ol^

-50
3

1*4

16

•75

80

21

40'4

16
4Sj

10

•45

1438

b
52S,

85

••70

21

-24

13 '4
583,
-ao

10

^80
-50
7

•75
••25
7

13

58

-bO

•80
••25
7

la"*
7

bi^j.

b'H,

1338
o^'e

11634

2
^^4
934 944 95

•38
27 4

...... *...--

59

13

1094

Last Sale JH

-6^

•

"9"""9"

212

21'J4

•

143

Vs 13s
LastSale
12241224 12241224
LastSale
-1>8

138

10041004 100141014
•

«

74 8
6
227 4 232 4
143

32-^4

•16834

Last Sale
11541154
*5 4

6

754

212

•

»5

31

212
734

5
11534
8

77

123

•

8

66

65

3 J Si

123

•101

•

"3

1214122
1214
6»4
74 -74

7
6634

-414

5
11534
9
9
6
•5»-i

1134
6934

69 4
4
13 15
lOS's 108=8
116 117

lO^-SsllO

109

Jl

11
69 4
-3

117

69 4

70
34

Atch Top

i>liscellnueoii»

114 •11
71

109
116
121

14

•

11
•69

13
71

138
117

Aug'03
Sep 'OS
283

LastSale

68
154 154 16
LastSalt SO
-90
95
90

•

95
69

145
•H>-i

60 4
87 4
248
137
240
166
Sep'Oo

135
1354 •13441354 135 135 4 '134
•40
Last Sale i'i
45
Mai-'oa
45
Last Sale Z734 J'ly'03
1834
19
18
19
19
i'-^
19
184
78
78
78
774 77 4 IS
78
774
•934 1034
-94 104
10
10
lO'e \ii\
19378 194
193 4194
1934 194
194 194

•15

•15

78

'235

••yi3"2'j6'" ••213"" -i-jo" "2V3""226"

76

•

296

87 4
248

14

248

•40

•104 114

'<

l'!6

'134

118
190

277
•

45
78

•20-J

75

298

283

19

226

•

•235
'171

'I'j'j

78

194 \,

11*4

240
166

•

19H!

11

1364137

188

iso

87

137
240
106

•233
166
•171

644

6338

1364 1364 137

•136

137

*i<)j

6338
•8634

873i

248

190

•13-t

64
34,S

298
134

*

8734

248

248

236
166

iS>8

•lt?li

248

236
166
•171

•

63 4

63 >4 tUV.
8718 87 4

l!34

S7
S7
•247 250
1S6H.137

LouesI

Mif/hest

Loioest

Sharef:

Unili'ond

tor Previous
Year (190-2)

liaiKie

1903

the
Week-

or

EXCHAXUE

16

year

JCam.'c fur

Sales

BOSTON STOCK

1-Yidaii
Oct.

Weekly and Yearly

Record, Daily,

I'er C-pnluiii I'ricPH

Tuesdaii

4

51

New stock.

.75
.50

Mayl4

14 Jan 2

1

Jau
Dec

134

Jau

4 4 Mar
Nov 25 Feb
434J''y24
47'., Nov
a934 Feb
1
Nov 34 Feb
16 J'ly 24
21
3i.jAuglo
5
May
7 4FeDl
3 Dec
80 Oct 15 126 4''eb
100 Nov 147 Feb
ligOct 16
4 Feblt
34 Mar
14 J 'IK
5

J'uel9

Oct

«

i

4 Feb

23 4 Feb
79 Feb
34
Feb

75

14 4

3 Jan 23
14 Sep
1478Apr2
8 Nov
Feb
140 Dec
•40
50 Jau
l»i„ Feb 9
13-'>8 Mai
1'73^ Jan 28
3334 Marl2
Sep
2
Feb
20 (Z34 Jan
106 4
70
J'ly
24
14
Feb
9
8 Dec
44
14 Aug 4 3134 Jan 2 27 Sep
164 J''y24 27 4 Feb 9 134 Jau
13 Nov
9 Sep 28 17 Mar It;
22 Jan 24 33'8May23 194 J'ly
9 Feb 9
4 Dec
2 4 Oct 14
5 4 J'ly 24 1 1434 Mario dl Jau
'an
MarlV 42
61 J'ly 28 77
'ov
Jan 8
27e.Marl7 50 No
1
1

8'>4

75

J'ly 24

Oct

1

J'ly 24
J'ly Hi

190

Feb
May
Feb

4
18
281

34 J'lie
184J'lV
125 Feb
18 4 Mar
35->8J'ly

Dec
184 J'ly

23
27

'

i

6

"5
1

Feb-

Oct
AUg^

7

Dec
',

J'ly

fAss'tpaUl. :fEx.right8^ a.Ex-div.& rights

—

5

Oct.

lt4»M)S

OCT 16

K.NDl.NQ

J-J
J-J

X

1

Ailjuslineiit

Boston

Is.

.

J'ly

iShice

16

Last Sale

Ask Low

Bid
97
9S

M.S
IW:< A-O
IDyS Nov
1907

Lowell 43

<te

San fie

Kanye or

94

98

Sal.

91 »4

5!9»J

J.l)

]'.»41 J-J
Bosl<Mi it Maiue4'-iS
..lt'or>
Inipi'ovenient 48
Host it Mon ;^a issue 7s... liUil M-N

126^1

Boston Terminal

llSi-j

FA
FA

J.J
J-J
J-J
J-J

111

M-N
M-S

.1,00

104

123
123

125
123
U)2
105

1st 68

J-J
J-1)

4s
Frenit Elk it

Mo V 1st 6s.

Unstamped 1st 68
Qt Nor C B <fc y coU

tr

MS

.

AO

193;s
193;i

135
135
91

A-O

4s 1921 J-J

Ke)Ostered4s

1.J

Sale

1921 Q-J

NOTK— Buyer pays accrued

J'ue'Ol
Jlar'03

Haturday
Oct. 10

Monday

'60

60
86

60
86

12

12
21

Oct.

61ii

12 »4
•21

121-.,

9>«

914

•201-j

94

918

.,

99

i-j

951-2100

110
107 14

1351.J138

135 137 Hi
45 87 14 941.2
87 4 94

— Not

I'ei-

Tuesday
Oct. 13
60

Centum

.....'

Oct.

14

114

1134

60
85
III4 12

20

20

20

60

'So
918

9

Oct.

00
85

15

M-N

Gold 4s

F-A

Oct.

61
12

12

20 ij

204

9

*834

2034
9

9

No price

61

85
13
21

100
519
475
50
100 2,731
Do pret
955
100
UnitedKy& Electric. 50 5,710

211.

8 '8

'W i03
102

Sale

102H2l02>a
106H,106i«
102 12 106
101 12 103^4

Daily,
Mange

119

110

'J4io.I'ly'()3

941-2

1021-2

IO5I3IO8

Apr'03

1|

111

98

102^4 10234

102 J'ly '03
98 12 100 14
87i4J'ly'01

and asked.

96 'a
106

107
107
9^76 10114
9218 106

102 104 14
98HJ105

21

112^8 Oct '03
latest bid

;

"

;02i2l02'tj

105i2j'uc'03

100

Si

102

1 02 12 Sep '03
107 Fob'03

102:>4

2

99

1123h1123»

Trust Co.

ctfs.

Weekly, Yearly
Hanye

tor J^evious
year (1902)

lor Year

iyU3

Week
Shares

Baltimore
Gas
Northern Central
1338 Seaboard Air Line

8^8

ii'-K

SlS^s Sep '03
93-\Sep'03
98
99
100 Sep '02
101 Oct '02

98

the

6II4 Consolidate.!

85

.

94

Sales

atocks see beLow)

16

•6OI4

1-2

1021-2

J.J
J-J
J-J

Friday

at

(For Bonds and Inactive

J/'ridai/

101

1 1

124^4

118
70
78^|
13 '8 26
914 10
75
75

"-2

1021-2.

101 Wj
130
104

US

'03

75 J'ue'O
104 Mar'O
97 Sep '03
102 Sep '03
102 1-2 Sep '03
102
.\ug'03
lO.jisMar'Oo
102»8Oct '03
101 '-2 Oct '03
112 May'Ol
100 Is Oct '02
119 J'ly '03
105 Oct '112
100 J'ue'O
102 Mar'02

103
97

F-A
AC)
A-O
A-O
A-O

100

97

91
106'8lOSi.j
107 '.J 11! '9
101
101
121^8 1 23 1«
102
102

9 '4 Sep '03

Golddebentmeis

'

Sep

7'2

14--V

J-J
J.J

1

ACTIVE STOCK-S

Thursday

Weanesday

70

Hiqii,

97
130
100
100
114
95
SO

VIW

08

1924. F-.\
Old Colony gold 48
Orog Ky it Nav con k4s..1946 J-O
1922 F-.\
Oreg Sli l.iuo 1st g 6s
llcpub Valley 1st 3 1 6s... 1919 J-J
1902 M-N
Uutland 1st (is
Kutland-Canadian 1st 4sl919 J J
Savannah Elec 1st cons 5s. 952 J-J
1930 F-A
Seattle F.lec 1st g 5s
1918 M-S
Torrington lat g 5s
Union Pac KU & 1 gr g 43.1947 J-J
1911 M-N
1st lien conv 4s
United Fruit conv gen 5s. 1911 M.S
1903 M-N
Vermont & Mass 58
West End Street Ky g 6s.. 1902 M-N
1914 M-S
Gold 41.2s

1916
1917
Western Teleph <ft Tel 5s. 1932
Wisconsin Cent 1st gen 481949
Wisconsin Valley 1st 7s.. 1909

Ao Low

JlUlIt

121!V
102 J'iie'03
lis Apr 'OH

1905 JJ
1905 J-J

l.st78

Nivce
Januarii 1

97 Oct '03
97 Oct '('3
130 Feb '03
17 S 100
J'lie'03
109 Sep '03
116 11434011 '(13
95
96 Aug'ii3
80
80 S.-p '03
106'8.M»>'03
107 i-j
107'..,
102
101
101

J'ly
J'ly

Exchanges— Stock Record,

I'riccs

107 >->
100

J-J

1

1st 6a

1-2

Sji 1

Br

.Mexican Cculral cons 4s.. 191
Jan 1939
Islcons inc38
Jan 1939
2d cons uic 38
-Mich Telep cou8 us tr rec.1929
MinneOeii Eli'C cou g 5s 1929
1929
NewEugCol Varu 58
1906
Now Eug Teloph 68
1907
68
1908
63
1915
58

J.iinije

Last Hale

*

99

105
105

C

N Yit N Eng

961-2

97
109
114

J-1)

.

II2I4II2I4
100 103;'4

If.

91

14

100

98
90

J'ly '03
Sep '03

Oct '03

102

98

104 V,
Sep '03

107 M
105
Mar'02
Mav'02
Oct '03
Sep '03

SS
101

& M By it

A-O
M.N
M.S

KanCSt JoA; C B

interest in aiiditioa to the purchase price lor all Boston Bouds.

l'i-ice«.

12

-4

lOo-ij 105^4

Philadelphia and Baltimore Stock
Share

91

132 '4 132
1171411

Feb '03

J'lv'03

101
97
105
105 '8
loo'a
11 U4
135 lo
135 Si
90 Hi
89 1»

100
9712 100
1 07 'i Sale
105 14

1906 .\I-S
1904 M-S
1927 M-S

80

"02
'03

Oct '03
Oct '03
105
109»4 Mar'02
112'.i Jan '03

A-O

..1913

..

'8

971.1

M

ll'««fc'.«

Bange or

Ask Low

J-J
A.C)
.V-O

1st 5sl929 .V-O
1st 7s. .1907 J-J
liHitFtSiiildgr 1st 7s. ..1905 J-J
.Maine Cent cons 1st 7s.. .1912 A-O
1912 A-O
Cons 1st 48
Out Ist 6s. 1925 A-O
.Marq Hough

Kail

i-j

103 ••210734
981..
96
125 12s
123 1271-2
100 107
102 1071.2

lUl

M-N
J-D

W

Easteru Ist gold 6s. ~
KitchburK 4s

101
1 13
102;S,113

SO
100

J-J

Curreut Uiver 1st os... ..1927 A-O
Ist 4s ..1946 A-O
Del (ir Kap it

Dominion Coal

101

SO
81
100 J'ne'03
110 Apr '01
99 ^ Oct '03
105 Feb'03
US '8
98 V
106 14 Dec '02
9S Mny'03
91^8 Oct '03

91

&

W

'W^2

J-J

Coll trust retuiiilinfr ^4sl940 A-O
St P Dub D 6s.. 192(1 J-J
Ch .Mil

M & St P Wis V (liv 6sl920
C1HC& No .Mich 1st ru 5s.l9;i;
Midi 4teu53....1921
Chic&
CuucoriKfe Mont cons4s..l92(
Conn it Pass K 1st k -Is .1943

"9'7"

Oct

1910
deben Ss
Non-.'onvert deb.-u 5s. ..1913
laFalls.t tilouxC l8t78..1917
Kan C Clin it Spr Isl 5s. ..192.'.
Kan C Ft SittJull lsl73..190S
1928
6s
KaiiC Ft Scolt it
1934
it B gen 48
Kan
Mar 1934
Income 5s

rilinois Steel

CM

llo-'V

132 '4
117>4

FA

92'-j

111

J-1)

SiUe

101 ;'m
'8

Feb '03
90 "o Feb '03
Sep "03

A-0
81

97

Apr '01

Sj J 'Iv

Bid

JJif/h

1131-2

98
100

A-O
A-O
M-N

1

99 's Jan '02
Mar'03
Jan '03

105

JYice
fridarj
Oct Id

BOSTON STOCK KXCH'GE
WEtK E.NI>lKO OCT 16

99 '8
96
93 V> 98 V
113 4113>...
86

lll>-j

MN

Cll

15

113

1-

W

10

101

1st SSis.li^T
reels. lii:t!i J-J
I si ."iH 1

Bost U 11 Uas
ItKi
2(1 ns trust iccenits
litl>
Bur* .Mo Kivex 6s
lit IS
Xou-exeiiipt 6s
liUO
Sinlcun; Hunl 4s
li'lT
Butteit lioslou 1st 6s
Cedar Uap* ilo K IstTs.lHU;
19011
2.178..'
Cent Vennt Isl j;4s..Mayli>2li
l;>03
Chie Burl it Q l-st 7s
liU'.t
Iowa Uiv lat OS
li>i;'
Iowa Uiv 1st 48
11' IS
Debenture 5s
1SI2'2
Kxteii
-Is
Denver
1927
Nebnuika Exten 4s
1921
8 t 4s
BA S
194".'
Illinois l)iv 3 »as
Joint bonds See Gt Nortlieni
Chic Jc Uy it Stk Yds 5s .191:'

Low

Jiii/h

97
97
93';
93"^
1131^ Feb '03
9S
97 'e
S9 Oct 'o;
104 "-J Apr '00

1-217

ItMN Its

Ja n iia ry
>•

".s..l'.•^l^

Is

i;

n'eek's
fYiilaii

Oct

lU Bell Telephone 4» 1008
Am Telfu it Tel coll tr 4s. l9-".»
Atecli it Nebraska Isi
Atch Top it S Ke geu g

.

Boston Bond Eecord.

17, 1903.1

BOSTON STOCK EXCH'GE
WEKK

^

Highest

Lowest

Highest

Lowest

Oct 12 72 4 Jan 5 62 14
Oct 8 118 Jan 12 104
9 28i4Jan 2
23''fl
20 Oct 9 45 Jan 2 40 14
S'sOct 16 14i4Jan 3 13
60
85

lli4 0ct

Jan 74 Is Sep
Jan 125i4J'ly
Dec 3434 Aug
Dec 55 la Aug
Oct

17

Mar

4 Sep

1

Apr

Fliilndeipliia

American Alkali

Do
IgSj

1834

3

3

34

•21a

I8I4

35

351,

14

11-2

3

5836 58i5je

5834

35

35

35^4

6

12

12

223^1

22^4

12
21^8
*37i2

5t»i8

37 Hj
•30

38

1-.

31

6

12
223^.

38

423*

423^

42'.2

79

79 '4

31
42 4

76

78

30>6ie

19

183.

2^8

18=8

2'8

'8

1834
l"*

24

2«s

59

3534
5i3i6 51616
ll's 11^8
2238 2234

•37
31

374
31

42-18

424

7734

78

18«e
1

Bid

Ask

35 4 3534

3513 35 14

59

5838 5834
35 •=8 3534
*5ieig
5i°io
6
6
Ills lli«
ll's 1138
22»i6 23I16 221I1B 23I16
5334
3539

354

38

•374 38
•314 32

33

*314

3214

42 4

424

4238

78 14

784 784

78I4

423s

PHILADELPHIA

Inactive Stocks

American Cement

10

Ainer Iron

50

ifc

Steel

&<^

Bell Telephone

50

Cambria Iron

50
Central Coal & Coke. 100
Preferred
100
Consol Trac Pitts
50
Prefcrre.l
50
Danville Bessemer. ..14
Dianionil State Steel
Pref eiTed
Easton Con Electric... 50
Electric of America... 50
Klec storage Batt
100
Preterre.T
100

Gen

6^8

"42"

American Rail ways... 50

.\sphal pf int ctf3...

58^18

59i«

36

363^
6I18

51B18

114 114
234

22^8

38
32

38
32

4238

4234

76 4 80

Nesquehoning

N Haven lron&

50
10
50

Phil German it
Phila Traetiou

Railways (ieneral

Sus.iufh Iron it Steel. .5
Tiile water Steel
10
United N J RR & C. 100
Unit Pow & Trans
25
United Trac Pitts
50
Preferred
50
Warwick Iron <fc Steel. 10
West Jersey & Sea.Sh.50

23"'

110
104 14 10434

ConTracofN Jlst

10334

M 7s 1911
J-D
6sgl911....JD
M 4s g '47. A-O
Con M ot '82 4s '37. J-J

97 14

F-A

Lehigh Nav 448 '14.Q-J
RR3 4s g
1914. Q-F
Gen
44s g.l924.Q-F

M

10

lOls

61

614

Leh V C Ist 5s g '33.. J J
Leh V ext 4s 1st 1948. J-D
2d 7s 1910
M-S

J-D
Annuity 6s
J-D
'29.
Leh
Trac
1st
48
J-D
34
V
Nat Asphalt 5s rects..
NewConGasos 1948 J-D
Newark Pass con 5s 1930

434

43

"934 94"
'

i"

260

334

Bid ana asked prices; no

4
64

Consol 6s 1923

NY Pli & No

1

St 4s '39 J-J

Income 4s 1939. ..M-N
1st 4s '36. .M-N
Deben 6s 1905
M.S
Penu gen 6s r 1910.. Var
Coasol 6s c 1905.. .Var
Consol 5s r 1919. ..Var

Lowest

is

ex-.hviuendi

t

May 291s Sep
Dec 36 Apr
Dec 80 14 Apr
Nov 7934 Sep
Nov 384 Deo
Feb 51^18 Oct
34 J'ly
Aug

Bid

Ry G & El 5s '99 M-S

80
110
108

Col<fcGrnvlst6s. 1916 J-J
Consol Gas 6s. ..1910 J-D

110
108

Chas

99

&

LakeR El 1st gii58'42M-S
MetSt(Wash)l8t5s'25FA
Mt Ver Cot Duck 1st 5s.
Incomes
New Orl Gas 1st 53.. Var

45
95
60

IGO
250
95
50
98
70

7

9

1

I's

135

35

37

90
107
106
89
106
119

90
107
120

Npt N&O P 1st 5s'38 M-N
Norfolk St Ist 5s

Ex-rights.

112
113
103 4

J-J
68 1904
Series
5s 1926.. ..J-J
J-J
Series B 5s 1926
Pitt Un Trac 5s 1997. J-J
Poto Val l8t 5s 1941.. J-J
Sec Av T(Pitt8) 58 '34 J-D
Sav Fla&West 5s '34 A-O
Seaboard L 4s 1950 A-O
Seab & Roan 5s 1926. J-J

A

A

South Bound Ist 5s.. A-O
U El L&P 1st 448'29 M-N
Un Ry<fe El 1st 43 '49 M-S
J-D
Income 4s 1949
Va Mid 1st 6s 1906. .M.S
2d series 63 1911. ..M-S
3d series 68 1916.. M-S

Exchange 3 4s 1930 J-J 1104
3 48 1952J-J 113
Bait & P l.st 6s m 1 '1 1 A-O
110
116
102

'44. .J-J

North Cent44s 1925 A-O

Refunding

Convertible 58. '06 M-N
Central Ry Os... 1912 J-J
Con.sol 5S....1932 3I-N
Exti Imp 5s. 1932 M-S
Chas Citv Ry 1st 58 '23 J-J

Ga& Ala 1st con 5s '45 J-J
Ga Car & N 1st 5s g '29 J-J

KuoxvTraol8t5s'28A-0

Bonds
Pot 5s
Ist 7... 1907 J-J

1939 J-D

5s

Georgia P 1st Gs... '22 J-J
GaSo <fc Fla 1st 5s 1945 J-J
G-B-S Brew 3-4s 1951M-S
2d luoiue 5s 1951 M-N

1930.J-D

1st (is tunnel.. 1911 J-J
Bait Traclst5a..'29 M.N
No Bait Div 5s 1942 J-D

People's Trlr certs 4s '43| lol
'.OII4
col tr5s'49 M-bl I0734I108I4

12414

BALTIMORE

Atl Coast L(Ct)ctf 8 5s J-D
Ctfs of indebt 4s
J-J
Bait CPass 1st 5s '11 M-N
Bait Fundc 58.1916 M-N

Penn <fc Mil Steel cou 6s. lOf.a^
Pa 6c N V Can 7s '06. J-D I0734
Con 53 1939
A-O 107 109
Con 4s 1939
A-O
Penn Steel 1st 5s '17 M-Ni 107

||

s t os

122

104

tr

RE
1104
U Trac Ind gen 5s'19.J.J
U Trac Pit gen 5s '97 J-J 111

Atl& Ch

1124 1144

i22'

4s '21. J-J
Ry con 58 1930
Side 1st 5s g '35 J-D

Anacostia

No Penn

sales on this day.

Terminal 53 g 1941. Q.F

"82"

994

9614

121
114

.

P Co 1st A:

23

BALTIMORE

Ask

1024 104 4

Inactive Stocks
Atlanta & Charlotte. 100
Atlan Coast L (Conn) 100
1064 1084 Canton Co
100
100
Georgia Sou <fe Fla...l00
109 4
1st pref
100
1083,
2d pref
100
G.B.S Brewing
100
il84 1194 Mt Vernon Cot Duck ..
Unit Elec L <t P pref. 50
135'

70

96

Ex Imp

Welsbach
77

Bid

Con

W & B col
Rochester
P
S

1920

Interstate Rys
3-3 4-48 1943

Elec gold trust ctfs

ConM

M-N
& Peo Tr stk tr ctls "97"
74 Elm & Wil 1st 6s '10. J J
Eq II Gas-L Lst g 5s 1928 1064
H & B Top con 5s '25 A-O
In.lianapolis Ry 43.1933 '764

7I4

Westmoreland Coal. ..50
'

93

1st 5s '16 J-J
Choc& Me 1st 5s 1949 J-J
Ch Ok <fe G gen 5s '19 J-J
Col St Ry 1st con 5s 1932
5s. '33

Jan 10

Ask

Trust certif s 4s
Charl C & A ext 5s. '09 J-J
60 4 61
P & E gen M 5 g '20. A.O 110 115
2rt 7s
1910 A-O
Gen M 4s g 1920.. AitO
City&Sublst5s..'22 J.D 1114 11234
124"
Ph & Read 2d 5s '33. A-O 1214
City* Sub(Was)lst53'48
89
90

1144
984 99

Elec

50

50
10

ext 78 1910 A.O

E & A 1st M 5s

Steel.

N orris. 50

PhU

AmRysconv58 1911.J-D

pret

PHILADELPHIA

Ask

Bid

^8

Sep 28 2634 Jan 5
6i8Sep22 9«16 Jan 2
li3i8Sep22 4934 Jan 2
64 Aug 7 7934 Feb 5
35 Sep 28 45 Tg Jan 30
14 Sep 29 4 Jan 6

.

Che & D Can

H..50

North Pennsylvania. .50
Pennsylvania Salt
50
Pennsylvania Steel.. 100
Preterred
loO
Phila Co (Pitts) pref.. .50

E

27

Jan 10

18

6
100 1,605
33
50
121
Nav ....
65
29 14
50 2,049
MarsdenCo
100
700
2'h
^4
Nat Asphalt Tr Co recta 50
iisJ'nelS
4 Feb 18
i4J'ne 8
134 J'ly
Do prel Tr Co rects 50
1 Feb 16
hfl Oct
Pennsylvania RK
50 7,144 57 4 Sep 29 7834 Jan 6 7334 Jan 85 Sep
Philadelp'a Co (Pittsb) 50 5,937 35 Oct 12 4734 Feb 10 434 Dec 5058 Apr
Philadelphia Electric. 25 4.885
318 Jan
5
Aug 6 9 Jan 8
94 Sep
8I4 J'ne 18-^8 Oct
Phila Rapid Transit... 50 2,2U0 IOI4 J'lyl5 17^8 Jan 5
Reading
50 41,945 2034 J'nelO 341 ha Jan 2 26I4 Mar 393x8 Sep
Do Ist pref
70 36 Sep 28 441I18 Feb 6 40 Mar 454 Sep
50
500 3016i8OCt 12 4018 Jan 6 30 Jan 40B16 Oct
Do 2dprel
50
Union Tracton
50 1,806 40^8 Sep 29 4734 Febie 32 Jan 4334 Feb
United Gas Impt
50 8,09S 76 Oct 12 1164 Jan 31 101 4.May] 126 -May
WelabachCo
100
20 Aug28 31 Marll 24 .Ian| 404 Sep

Do

Bethle Steel 6s 1998. Q-F

Keystone Telephone ..50
Preleired

Al Val

Is

Lehigh Coal &
64
3539 3634 Lehigh VaUey

Bonds

Atl City Ist 5s g '19. M-N
Balls Ter 1st 58 1926. J-D

50
50

prel

Cambria Steel
50 3,445
Consol Lake Superior.. 100 16,585

454 Berg&EBrwl8t68'21J-J

45

Geriiiauiowu Pass
50
Harrison Bros pref... 100
Indianapolis St
100
Inter Sm Pow & Chein.50
Lit Brothers
Little SeliuylkiU
Minehill & Schuyl

15l6

3

''20

PHlIxADELPHIA

19

64

64

354 354

36

5^8

" 16

3

58^ 59
36

184

"18
64

36I5

•36

184

18

115
io'3

4

4th ser 3-4-5s 1921..M-S
5th series 5s 1926. JLS
Va (State) 3s new '32.J.J
Fund debt2-3s 1991. J-J
West
C con 6s 1914 J-J
WesVa C&P 1st 6g'll J-J
Wil <fe Weld 5s.. 1035. J-J

N

109

10934 IIOI4

100
106
118
106
46
30
100
112
115

102
107
122

4

47
31
103

824 85
13

1.".

95
100
110
103
117
116
110
103
112
112
64
110
106
82
90

100

UL
1-20

65

1124
V114
5,534

103
108
112
110
108
92

,110

93
924 93
112
109 4 110
115
I

1

..
.
.

.

.

.,.
.
.

.

THE CHRONICLE.

1218

[Vol. lxxvii.

and Railroad |uttlligence»
RAILROAD GROSS EARNINGS.

[nuestmcttt

The following Jtable shows the gross earnings of every Steam railroad from which regular weekly or monthly returns
oan be obtained. The first two columns of tigiu-es give the gross earnings for the latest week or moiith, and the last twoi
columns the earnings for the period from July 1 to and including such latest week or month.
The returtui of tJie street railtvavs are brought together separatelii on a subsequent page.
Latest

BOADS
or

AJaGtSoutliem.

iiroJis

1

to Latest

Year

Year

wk

53,938

48,496

815.862

199,242

177,118

603, 626

NO&NoKast
Ala & Vick8l)'K

Year

September
271,254
87,3;
99,tiS
eptember
99.779
319.040
September 110,692
iiic.
llb.099
Alle^'heuy Valley August
567.550
32.411
37.572
Ann Arbor..
Ist wk Got
AtoU Top & S Fe August.
5.594.733 4.S5S.285 10,981.320
Vicksb SU

A

P.

200,202
263.941
260.2U-.
Atlanta & Char.. July....
195.800
68,851
63,5S2
Atl Kuoxv \- No. ^eptmeber
02,879
32.(J52
Atlantic & Blmi August.
1,352.460 1.247.522 2,702.577
Atl Const Line. .. .Autfust.
10.215
11,082
10,215
Halt .): Aun S L.. July.
Bait A Ohio
September 0.02O.195 5.430,434 17.875.500
0.449.201 5,989.111 12,800,899
Total System... .\ugii8r.
141,300
328.974
100. 36S
BauKor & Aroosi August.
0,022
3,084
3.240
BatluV HrtuiMsp't August
17.957
5,421
0.422
Belletoute C«ut'i September
9,220
4.949
4,171
Brill K't it Saoo K August
105,350 159,084 2,349.449
Bull Koch Jt ila.^ Ist wk Get
157,225
75.104
76,722
Buitalo &:^iisq... August...
770.4.00
04,900
94,3l>0
Canadiau North.. IthwkSept
Cauadiau Faoliic 1st wk Got 9S2.000 873.000 12,943,498
13.821
11,994
11.994
Oaue Belt
July...
Ceut'lor Georgia ist wk Got 208,300 188,450 7,379.854
3,80it,347
1.933.200 1,319.375
Ceut'l or N Jersey .\Ul!U8t
1,979,057 1.939,070 1,979,057
Central Pacitic. July...
31,108
1,770
1.152
Chattan SoulU'u. l8t wk Got
Chesap & Ohio... August... 1.645,291 1,167.084 3,210.000
CliloA Alton Ry. August... 1,047.160 890.280 2.000,073
172,822 151,900 2.327, oOt)
Clilo Gt Western. Ist wk Got
ChicLndAlVv... Ist wk Oct 108,938 103.491 1,570,120
4.178.541 3.904,073 8.337,004
Chic Milw <fc 8t P August
1:4843740 4,214,8-iO 119010,148
Chic &. North Wii August
1,015.077 1,019.020 1,907,549
Ohio St P M & O August
454.355
35,083
32,775
Chic Term Tr KK ist wk Got
Gin N O & T Pao IthwkSept 209,003 185.547 1.757,994
2.001.290 1,745.191 3,801.550
ClClnChA St L August
481.837
230.701
Kast'u August
258,501
Peoria
Colorado A South IsD wk Got 144.772 138,738 1,788.802
13.500
33.820
17.357
Col Newi) <fe Lau. August
101,038
30.822
45.878
Copper Kan^e.... August
20,271
10,058
Oornwall
9,909
August
03,734
20.172
Cornwall <bLeb.. August
29,411
381,280
Cumberl'd Vallej August
190,082 118,073
Denv. <te Kio Gr. i
378,200 5,082,594
Kio Gr. West. S Isi -wk Oct 365.600
67,564
103,517
79,686
Det & iMackinac. AUKUSt...
:i9,000
473.080
31,900
Detroit Southern. 1st wk Oct
70,575
775,745
70,700
DulSoSh A Atl.. IthwkSepi
10,020
223,343
22,005
Eaat & W. of Ala. May
4,455,601 3,600,806 8,883,853
Erie
Augu«t
7,420
119,967
7,093
Svansv & Indian 1st wk Got
30.691
540,339
32.204
Evansv <te T H... Ist wk Got
2.857
5.736
F'rchild&N'r'e'n August
3,057
7,537
0,007
Farmv& Powhal July
6,007
219,475
522,055
259,118
Ft
& Denv City August
164.426
354.857
173,248
Georgia KK
August
389,075
Ga South & Fla. September 121,124 112,892
25,516
61,502
ValGA;
N..
31,378
GUa
August
Gr Trunk System l-t wk Oct 687,400 637,210 10.355,770
98,190 1,212.375
GrTr. West'u. 3d wkSept 117,764
27,213
319,251
DetOr H&M.. 3d wkSept
34,819
Great Northern. September 4,017,6'.il 3,954,250 11.018,185
558,400
Montana Cent'i September 181,523 158.472
Total system. September 4,199J.44 4,112.722 11,570,045
39,567
500,057
Gair<&ShipIslauil Ist wk Got
41.071
Uocklug Valley.. Ist wk Oct 137,014 131,463 1,835,990
393,595
Ho us A Tex Cent July
393,595 339.054
60,863
04,177
W.Texas July
64.177
10,211
15,354
Eotia & Shrevep'i July
15.354
minois Central.. September 3,830.002 3,734,450 11,623,907
13.013
44,045
Illinois Southern Stfiilember
16,022
234.892
Indlll <&Iowa... August
116,068 129.815
108,170
1,481,893
&
Gt
North'ij
Int
120,177
1st wk Oot
Jlnteroc(Mex)... vVk Sept26
95,500 111,290 1,280,900
052.204
47,682
Iowa Central
Istwk Oct
40,090
Kanawha <k MicI Istwk Oct 31,022
14,379
455,301
KauCitf South'u 2d wk Sept 12».00:i 112,429 1,290.280
LakeEne&Westn September 4 87,770 433,070 1,443,017
Lehigh Val RR.. August... 2,7.54,704 1,448.817 5,483,935
124,770
64,234
48,784
LexinK >!e East'u. August. .
i7tc. 32 ,499
Inc. 157
Loni? iMlaiul
August...
54,36
40,620
108,809
La & Arkansas .. August...
72,303
08,815
72.303
Lou Hend A St L. July
Louis V (K Na.shv. Istwk Oct 732.830 691,890 9,870.771
Blacon & Biiin. September
9,918
15,700
31,792
.

.

Date

Ixitest

ROADS

vtt.rrenc

Month

let
Got
IVxat- I'aciilo.

AlaNOJfc

Jnlv

J-Sarninas

Vurreiil

iVeeK

.

lit!

W

H&E

.

Year

or

703,976 Man'tee& Gr. Hap
Mania & No East
524.808 Maniatique
239,095 Maryl'd & Penn.
277.432 tMexloan Cont'l.f
218,922
t Vfexioan I-itern.
474.173 t Mexican Ry
9,454.993 {Mexican South'u
208,941 MiUen & So'w'u.
178,958 Mineral Range..
2,002.374
11,032
16,156,316
11,563,308

201.5MO
5.490
14,733
9.190
2.050.780
142,045
445,500
11,325,280
13,821
2,308,723
2,471,230
1,939,070
34,047
2,208,730
1,090,700
2,017,159
1,383,029
7,625,400
8,ly0,890
1,914.870
405,032
1,470,894
3,314,228
435,483
1.087.351
27,120
58,994
18,040
51,621
219.630

4,989,078
133,031

401,120
772,277
^171,101
6,849.094

Allegheny Valley
Atlanta & Charl Air Line.
Belleloutc Central

Canadian N orthern

Chicago & North Western.
Chic St P Minn & Omaha..
Cumberland Valley
International & Gt North'n
Lake Erie & Western
Manistee & North Eastern
Mani.stique

Maryland

&

Jan. 1 to Aug. 31
Apr. 1 to July 31
Jan. 1 to Sept 30
Jan. 1 to Sept. 30

June
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.

Pennsylvania Mar.

Mi.ssourl Paciflc

Central Branch
Total.

tHexicau Central t
Mexican International

Jan.
Jan.
Jan.
Jan.
Jan.

Inc.
55,0-^3

1,950,725
Aug. 31 1114.400,877
1 to Aug. 31
7,504.506
1 to Aug. 31
1,260.190
1 to Oct
7
4.O19.029
1 to Sept. 30
3,891,302
1 to July 31
218.879
1 to Sept 30|
55.047
1 to Aug. 31
103.450
to Oct
7 31,494,631
to Oct
7
1,077.000
to Oct
7 32,571,031
to Oct
7 19,107,727
to Aug. 31
4,800,237
1 to

Year

8,878
29.305
8,038
32.201

.Tuly

July.

September
August .
Istwk Oot
Auirust

WkSept 26
3d wk Sept

520,445
530,801
105.400
18,647
3.758

July

—

Ohio Blv& West.. July
Pacilio Coast Co. August

17,585
567,353

*
8,518

25,052
7,950
27,707
388,733
533,803
103,700
15.422
3,890
11,155
75.493
160.257
355,500
690,000
13,000
708,000
4,303
123,092
172.493
105.830
24.144
2,040
6,701.579
408.215
134.342
355,308
681,830
4.032,580
56,020
14,758
505,249

11041290 10106990
Mc. 72
—
Istwk

ePenn— EaatP&E August
eWestP&E... August
Pere Marquette ?(•

Oct

245,990

1,195,127
Phila«alt&W'sb August
780,104
Phlla & Erie
August
2,211
Pine BLf Ark R
August
2,221,364
Pittsb C C & St L August
5.116
Raleigb & C Fear August
3.072.332
Beading Railway .August
2,350,949
Coal & It Co.... August
5,923,831
Total Both Cos. August
107.442
Rich Fr-ksb & P August
50,957
Rio Grande Jot.. July
7,880
Rio Grande So... Ut wk Oct
4,413.261
Rock Isl'dSyst'm August
48,932
Rutland
wk
July
3d
August ... 119,208
St Jos&GrI
3,197,932
St L & San Fran g August
Istwk Oct 141,729
St L Southwest
StLVan&TH.. September 216,737
230,965
San Ant & A P... April
San Fran &NP.. Seotember 155,478
Seaboard Air L.. IthwkSept 315,821
Southern Ind
September 109,107
.

.

3,200
223,744
1,151,027
526,223
2,257
1,954,779
1,992,195

242,313
2,234,508

82,258
52,533
12,697
3,879,070
47,439
103,304
2,590,217

158,030
190.320
247,020
128.438
325,978
71.903
7,380,145 0,443,488

.

August.. .6
1,979,057 1,939,070
July
575,195 503,027
July
117,098
28,954
July
13,055
13,488
July
151,204
175,399
July
338.360 384,159
July
32,904
30,512
July
303,029 333,960
July
113,923 102,957
July
2,084,025 2,205,002
July
323,779 206,208
July
istwk Oct 913,053 858,439
September 192,407 101.007
02,055
53,318
Sepi ember
14,974
10,995
Istwk Oct
Istwk Oot 210,572 214,347
10,700
11.800
August....
10,051
15,279
August
58.574
72.120
Istwk Oct
22,179
wk
23,053
1st
Oct
e5,;i42
54,888
IstwK Oct
14,648
11,313
4thwkS6pt
2d wk Sept 739,919 635,724
August ... 4,534,032 4,2,54,093
09.242
47,707
September
502,25" 430.292
1st wk Oct
AUl<U8t ... 744.750 094,350
87.714
2dwk Oct.
73,857
18.204
19,076
August ...
2dwk Oct, 133,500 132,494
12,271
11,203
August ...
Miss. V. SepTiember 573,197
568.107

W

.

W

FliSCAl.

<fe

EOAOS

Gross Marnings

P&E

15..537.700

4,172.287

1

to

Cvrrcnt
Year

Latest Bati

/YeoioKJ
Year

8.878
8,518
29.305
25.6.02
25.366
33,116
00.831
50.322
0,561,421 5,292,090
1,079,039 1.061,573
1,280,500 1,234,800
220,492
207.47^
3.758
3.890
147.565
155.890
830.071 1.051.26'4
2,003.0^1 2.033,873
4,700,337 4,725.605
11,903,150 10,005,150
484,000
322.000
12.447.150 10,328,158
104,389
00,554
1,908,000 1.845,55a
2,000,932 2,387,084
2,900,015 2,433,390
57,177
54,466
2,892
2.040
20,998,245 19,475,064
1,364,087
740,060
482,820
263.715
6,128.080 5.316.518
1,842,051 1.310.251
12,891,761 12,352,228
130.156
122,606
17.585
14i758
1.127,716 1,051,988
22,030.093 19,878,493
ini). 1.20 6,300
2,347.429 3,051,390
2,341.905 2,203,505
1,556,426 1,038,264
4.428
4,902
4,386,595 3,779,784
10,155
6,204,301 3",9i3,37d
498,510
5,876,547
12,030.848 4,411,880
231.700
184,099
52,53a
50.957
105,514
143,081
8,351.042 7,508,014
138,739
150,173
234.140
180,143
6.083,159 4,968,4'29
1,932,894 1,804,033
581.308
630.861
2,141,276 2,172.830
423,826
376,751
3,062,427 2,972,239
203,559
312.404
14,631,674 12,919,007
1,979,057 1,939,070
503,027
575,195
117.098
28,954
13,488
13,655
175,899
151.204
384,159
338.300
32,904
30,512
303.029
333,906
113.923
102,957
2,684.025 2,205,002
200,208
323,779
12,057.443 11,208,453
459,114
551,728
151.502
182.08
140.055
100,141
2.805,357 2,658.042
18.700
20.300
30,385
33,815
844,415
1,100,051
315,013
359.851
811.490
893.156
107,399
153,735
6,917,503 6,237,408
9,122.840 8,395,550
152.'277
188.185
C,803,524i 5,896,436
1,320,331 1,212.231
1,403,814 1,197,375
35,623
37,284
2,103.750 1,988,791
22,998
22,003
1,037,980 1,514.444

\EAB6S.

$585,744 JMexican Railway
945,079 {Mexican Southern
43,180 {National KR of Mexico...
1,137,811 Northern Central
12,197,258 North Shore
7,320,076 ePennsy., East of P & E...
cWestof
777,504
w
3,036,970 Pere Marquette
3,409,222 Phila Baltimore & Wash..
197,888 Philadelphia & Eric
84,371
140,371
26,744,401
792,000
27,530,401

Jii^y

I^eoioua
Year

V&N

Current Year /"devious Year

$1,023,865

Ct(rre»t(

10,733
Istwk Oot
01,149
Minueap it St L. Istwk Got
M8t P& S St M. Istwk Oot 105,935
Mo Kan <fe Texas Istwk Oot 3sl,142
Mo Pac & Iron Mt 'iSt wk Oct 734,000
38,000
Central Branch Istwk Oct
Total
Istwk Oct 772.000
7.^512
Mob Jack & K O. WX Oot 10
Mobile & Ohio... Istwk Oot 137.220
Nash Ch cfe St L,.. Istwk Oot 189,751
INaflRRofMex Istwk Oot 101,350
20,432
Nev-Cal-Oregou September
2,892
Nevada Central.. July
N YC& HudRiv September 7,056,151
680,890
N Y Out & West. August
N Y Susq & West August ... 218,104
Norfolk & West'n Istwk Oot 410,080
919,036
Northern Central August
North'n Pacific. September 4,504,385
63,464
Nor Shore iCal).. Augiist

Yazoo

Gross ikj/mings

Gross Jiamings

Month

112.239
489.805
5,807
7,537 So PacltlcCofi...
454,015
Central PaclHc.
320,921
Gal Har & S A.
354,800
Gal Houa <te No
49,905
GultWT& P..
8.831,340
Louis'a West...
1,014,293
Morgan's L & T
278.728
N YT&Mex ..
10,748,671
Oregon & Calif.
502.171
So Pac Coast....
11.250,842
So Pao RKCo..
442,770
Tex&NOrl
1,707.525 Southern Ratlw'y
339,054 TerreH &Ind...
60,863 Terre H &. Peor..
16.211 Texas Central . .
10,483,695 Texas & Paciflc.
39,185 TexS
W ..
201,707 Tift niom& Gulf.
1.305.099 Tol & Ohio Cent
1,210,000 Tol P& West ....
064,700 TolStL&
198,352 Tor Ham & Butt.
1,209,312 Un Puo proper...
1.230,455 Un Pac System
2,090,000 Va & Southwest..
97,091 Wabash
,851
Jersey & Sea'e
77,739 Wheel & LE
68,815 Wm'sport&N.Br.
9,061,147 Wisconsin Cent..
37,200 Wrightsv&T'n..

VAKIOIJS
EOADS

Wee/c

Jan.
Apr,
Jan.
Jan.

Mar.
Jan.
Jan.
Jan.

1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to

Nov. 1 to

.

Jan. 1 to
Jan. 1 to
Dec. 1 to
Nov. 1 to
Nov. 1 to

.

Jan. 1 to
Jan. 1 to

& St Louis..
Rio Grande Junction
St L Vandalia & Terre H
Terre Haute & Indianap
Terre Haute & Peoria
Texas & Pacific
West Jersey & Seashore.
Pitts Cin Chic

..

Nov. 1 to

Sept 27
Sept 21

Oot
Aug.
Aug.
Aug.
Aug.

Oct

7
31
31
31
31

7
Aug. 31
Aug. 31
Aug. 31
July 31
Sept 30
Sept 30
Sept 30
Oct 7
Aug. 31

Current Year Previous Year

$4,028,000
479,528
8,047,390
0,882,245
379,159
82,191.909
Inc.

8,730,109
11,070,278
5.104,430
10,207,441
307,039
2.218.820
1,814,852
583,678
8.390,887
3.051.083

$3,709,300
403.466
6.720.323
5,402,845
315.971
73,293,309
4,481,100
7,980,990
9.999,273
4,050,085
14,619.158
361.020
2,000.419
1,590.486
505,517
7.876.415
2.789.983

trans-Missouri Unes
Results on Monterey «s Mexican Gulf are included from March •, li(02.
JMexican currency.
1| Includes
In 1903, making length of road on which earniugs are reported 7,357 la 1903, aga'nsc 5.870 miles In 1902.
& Does not include the
Houst. <te Ter. Cent, and Its subsid. lines either this year or last.
the Chicago & Eastern
</ Includes
e Covers lines directly operated.
w Inyears.
Illinois In both years.
t Including 8av. Klor. <fe West, and also Florida Southern and Sanford <fe 8t. Petersburg Bys. in both
cludes Lake Erie & Get Riv. Ky. from Jan. 1 both year.s.
z Includes earuin<f8 of Valley RR. of V a., Ohio <fc
'Approximate for Juno.
Little Kanawha, Clev. Term. «fe Val., Ciev. Lor. & Wheeling, Kavenswood Spencer
G, and Klpley &. Mill Creek, not wholly- owned, but
controlled and operated by the B. & O
t

&

.

.

Oct.

1908.

VBttk of October.

9

1902.

lnerta$«.

9

Year.

9

48,496
32,411
159,084
873.000
188,450
1.776
161,900
103.491
36.683
110.193
138.738
378.200
89,060
7,420
80,691

6,442
6.161
6,266
109,000
19,910

>
\

687,406

637,210

50,196

A Hblp Island
Hnnklnir VallAV
.
.
International & Qt.No..

41.071
137,614
120.177
46,690
81,022
732.830
520,445
10,733
61,149
186,935
381,142
734,000
38,000
8,110
137.220
189,751
161,350
416,036
245,996
7,880
141,729
913,05a
14,974
210,572
72,186
23.068
65.948
602,257
88.277
136,800

89,567
181,463
10S.170
47.682
14,379
691.890
388,733
11,165
75.493
166,257
355.508
690,000
18.000
4,257
123,692
172,493
165,836
355,368
223,744
12,697
153,636
868,439
16,998
314,347
58,574
22,179
54.888
430.292
75,358
134,537

1,504
6,151
13,007

9,608,453

8,746,430

..

A Flttob'ji.

aaffalo Rooh.

Canadian Paoltlo
Central otGeorsrla
CbattanooKa Houthem...
OUlo. Great Western

Ohio. iDlVpllB A I^oulsv..
Cblo. Term. Transfer
Cln. N. O. A Texas Pao..

Colorado

&

A

Denver

Soathem....
Rio Grande *-

EvansvlUe & Indlanap..
Evans. A Terre Hant«. ..

G^nd Trunk of Canada i
Grand Trunk West
D«t.Gr.Hav.AMllw.
. .

Oolt

IlIws (lentral

...

...

Kanawna A UiotiiKan...
Loulsvlile A Naalivme..
..
Mexican Central....
........
Mineral Ranee
MtnneapoUB A 8t. Louis.

Minn. Ht. P.
Mo. Kansas

A S. Ste. M..
A Texas
A Iron Mt....

Mo. Paolllo
Cenwal Branch
Mob. Jaokson A K. Oltyl
Mobile A Ohio

aahv

Chat.

A

St. IjOuIs.

National BR. of Mexico..
Norfolk A Western
Pere Marunettet. ........
Bio Grande Southern...
81. L«nl8 Southwestern..

Bontnem Railway
Texas Central

.......

rexas A Paotno
Toledo A Ohio Central..
Toledo Peoria & Weat'n

ToL

St. L.

A Weat

Wabash

Wheeling A Lake Erie...
WlBOonsln Central
Total (48 roads)

Ret Increase (8'71

""624
"a,9o'8

li',269

6,034
"12.600

"2,906
827
i",573

1908.

9

1902.

Includes Iron Ry. in both years.
Expenses increased this year on account of expenditures for improvements.
y Including other Inoomo, total net from July 1 to August 31 is
$32,186 this year, against $21,517 last year.
X Includes $125 " other income" for AuRUSt this year, agaln.st $341
last year. From July 1 to Aug. 31, other income Included, amounts to
$870 this year, against $678 last year.
t The proportion of the dlvlden?) on preferred stock for July was
$46,984 this year, against $42,516 last year, leaving a surplus of
$24,710 This year, against K21, 269 last year. Forthe 2 months the call
for the dividend was $93,968 this year, against $85,369 last year,
leaving a surplus for these 2 months of f 56,130, against $41,716.

992

40,940
181,712

422
14,344

322
26',636

44,000
20,000
3,853
18.528
17,258

"4'486

$

— Int., Jien tats, etc. —

22,252
4,817
16,907

54.614

"2,621
8,776
13',85'2

879
11,054
71.965
12,919
1,263

826.668
762,023

9

Previously rep'd (48r'ds) 13,664.438 12,381,076
Alabama Ot. Southern..
84,654
91.613
Ala. N. O. A Tex. Pao.—
NewOrl. ANo. East..
78,842
67,118
Ala. & Vloksburg
41,682
86.327
42,779
Vloks.Sh. APac
49,692
Oln. N. O. A Texas Pae..
809.003
185,547
111,290
Interooeanio (M6X.).1I.95.500
Mexloan Railway
105,400
103,700
11,313
Toronto Ham. * Buffalo.
14.648

1,288,509
6,969

Total (66 roads)
Net Increase 942

1,347,361
1.226.414

<

f Week ending

14.250,218 13,023,804
p. o.)..

64,546

&

Detroit

-

»-•

,

Year.

Eoadt.
Allegtaeny Valley. ..Aug.
Jan. 1 to Aug. 3i....
Amer. Light A Trao. July

Month of Atig
Atl. Knox. A No.a.Aug.

July 1 to Aug. 31
Atlantic A Blrm'gh. Aug.
July 1 to Aug. 31....
Baltimore A Annapolis
Short Llne.a
July
Bellefonte Centr'l bSept.

Year.

^

^
Inc. 116,099
Inc. 585,744

68,510
132,218
32,652
62,879

62,488
120,107

16,218
11,082
6,428
6,421
Jan. 1 to Sept 30
55,083
43,186
Brldgt. A Saoo R.b.Aug.
4,171
4,949
July 1 to Aug. 81....
9,226
9,190
Oolnm.Newb.A L.b.Aug.
17,357
13,506
July 1 to Aug. 31
33,820
27,120
Detroit Southern. h.Atig.
168,277
133,079
July 1 to Aug, 31
292,012
244,997
Lonls'na A Arkan.aAu^.
54,367
40,620
Jtily 1 to Aug. 31
108,869
77.739
Lou. Hen. A St. L.bJoly
72,303
68,815
Macon A BlrmlngbAug.
10,819
11,530
July 1 to Aug. 31....
21,874
21,600
Mo. Kan. A Texas. a. Aug. 1,439,563 1,435,140
July 1 to Ang. 31
2,766,665 2,706,700

Year.

$

$

$

$

433

822

Jan. 1 to Sept 30 ...
Brldgt. & Saoo Rlv.Ang.

4,363

4,874

506

635

July Ito Aug. 31
Mo. Kan. A Texas..Aug.
July 1 to Aug. 31
Nev.-Cal.-Cregon . . . Ang.
July 1 to Aug. 31
Pine Bluff Ark. R... Aug.
July 1 to Aug. 31....
Tilt. Thomasv. A G Aug.
July 1 to Aug. 31
ToL Peo. A West... Sept
July 1 to Sept 80

1,013
838.656
644,406
2,192
4,384

1.066
317,842
636,615
1,875
3,750

8,821

608

483

1,216
4,026
8,053
23,003
69,024

966

15,790

120,937

Net Earnings.
Previous
Current

.

Year.

$

Ino. 42.199
Ino. 121,058

t71,694
t78,403
22,436
41,664
11,219
24,023

t63,784
t63,301
19,289
84,356

7,599
2,955
22,764
1,807
4,485
6.051
13,024
37,018
71,504
yl7,183
y29,692
25,716
def. 1,946

3,582
1,993
15,847
2,205
8,565
3,782
7,122
41,067
54,974
yl0,771

y21,517
24,758

def.2,260

def.2.226
def.3,931

351,982
698,837

474,220
748,796

4,026
8,053
22,638
67,614

7,698
3,622
18,391
1,302
8,413
28,326
def.46,869
6,484
11,356
def.864
def.920
4,229
7,686
4,604
14,344

1.471
10.973
1.670
2.499
156,878
122.181
4,213
8,839

483
686
3,011
6,009
7,040
2,687

STREET RAILWAYS AND TRACTION COMPANIES.
Latest Oross Marnings.

Eabmvxqs.

R'ys. Oo.H-

Our'nt
Tear.

WulcorMo

Prev'u*

Tear

9,581
31,932

September
18,432
29day8Sep 1,308,368 1,042,944
September
7,967
6,696
August
227,656
September 45,753 38,391
September 40,921 19,347
Cln. Dayton A Tol.Tr. August
56,546 49,301
Br'klynRap.Tr. Co...
Burlingt'n (Vt) Trac.
Oal. Gas A Electric.
8Cent. Penn. Tract..
Chloaso A MU. Elec.

Oln. Nevrp. & Coving.
Light & Traction...
Citizens' Ry. A Light
(Muscatine, Iowa)..
Oleve.&So. W. rr.Co.
Oleve. Palnsv. & E...

August

112,576

August
September
August
Dart & W'portSt.Ry. August

Detroit United Ry..ii
Duluth-Sup. Tract...
Elgin Aurora & Sou..
Havana Elec. Rv. Co.

Istwk.Oct.
Istwk.Oot.

August

Wk.Octll

Honolulu Rapid Tr.
A Land Co
August

Houghton Co. St. Ry. August....
Houston Elec. 8t. Ry. August
Indianap. AEnst Ry, September
Indlanap.

&

Jan. 1

to Latest Datt

Current Previout
Tear.

September 182,004 107,614 1,023,013

Blnghamton By

1,700
3,336

Year
£

Previotu

Year.

Roads.
Atlantic A Blrm'gh. Aug.
Bellefonte Central. Sept

Aur. Elgin A Chic. By Wk.Oct 11

Net Earnings Monthly to Latest Dates.— The table follow
ing shows the gross and net earnings of Steam railroads
reported this week, A full detailed statement, including all
roads from which monthly returns can be obtained, Is glveii
once a month in these columns, and the latest statement of
this kind will be found In the Chboniolb of Sept. 26,
1908.
The next will appear in the issue of Oct. 24, 1908.

—Current
Gross Earnings. —
Previous

Current

Year.

American

11,124
5,856
6,913
23,456
*_*•

Previous

Year.

Gboss

9
106,147

^lial. of Net Earn'gs.-,

Current

Decrease.

Sept. 86.

/

Interest Charges and Surplus.

'60",718

Inereate.

Year.

Year.

b
k

For the fourth week of September our final statement ooyers
56 roads, and shows 9*42 per cent Increase in the aggregate
over the same week last year.
4(A iM«* of September.

Year.

aNetearninRB hereKlvenareafterdeductlng taxes,
k Neteamlngs bereglven are before dedaoting taxes.

16.643

Lake Erie

Includes Rio Qrande Western, t Includes
Blver By. for both years.
H Figures are for week ending Oct. 3.
*

Net Ear nings.
s
Current
PreeiovM

—

26,922
6,447

p. o.)

—Current
Gross E arnmgs. —
Previous

Roads.
$
*
Mo. Pac. System. b.. Aug. 4,020.000 3,312,546 1.475,000 1.180,376
Jan. 1 to Ang. 31... 27.744,631 33,601,401 8,861,319 7,239,153
Mobile A Ohio. a. ..Aug.
893,143
561.353
138.642
153,307
July 1 to Aug. 81.... 1,221.996 1,116,615
312,839
286,740
Nev.-Cal.-Oregon.aAug.
18,755
16,233
8.676
6,088
36.695
July 1 to Aug. 81....
80,322
16.740
13.589
Aug.
780,104
Phlla. A Erie.b
526,223
305,536
166,952
Jan. 1 to Aug. 31.... 5,164,430 4.066,686 1,670,349 1,868,278
8,211
Pine Blufi Ark. R...Aug.
2,257
k44
966
4,902
4,428
July Ito Aug. 31....
k296
1,682
107,442
82,258
Bloh. Fred. A Pot. .Aug.
84,719
15,544
231,7C0
184,699
July Ito Aug. 31
71,610
44,283
16,651
15.279
8.255
Tift. Thomasv. A O.Aug.
7,037
83,815
30,385
July 1 to Aug. 31
16,789
14,062
105.873
Tol.Peorla A West.bSept S 113,607
27.512
29,587
836,793
293,434
83,369
July 1 to Sept. 30
70,161
xll,208
X12.271
493
Wrlffhtsv.A Tenn.bAug.
3,261
x22,668
X22,998
2.349
July Ito Aug. 31....
8,881

Dter9(ue.

9

53.938
87,572
165,350
982,000
208,860
1.158
172.822
108,938
82,776
121.462
144,772
366,600
31,960
7,093
38,264

Ot. 8oatlieni

i219
.

last year,

Alabama

,.

THE CHRONICLE.

17, 1903. J

Latest Wro88 Earnings by Weeks.— In the table which
follows we sum up separately the earnings for the first
week of October. The table covers 48 roads and shows
8-71 per cent Increase In the aggregate over the same week

Im

—

.

J

9,683
43,159
24,043
19,201
84,732
11,741
47,423
30,691

25,731
20,871
40,824
20,315

96,217

182,601

Year.

861,488
1S9.7"5'8

d3,837.0Te d3,403,4S4

58,634

42,702

391,148
194,686
341,503

344,5"3"9

794,967

707,435

147,408
300,864

9,041
63,883
54.331
30,464 330,232 (319.969
24,7s7
141,862 132,498
21,066
95,514
91,596
73,386 3,388,782 3,026,510
10,527 476,645 406,401
43,506 305,724 270,434
1998,627 1838,101
J 24.714

1

17,820
17,305
33,638
11,895

177,136

114,615

d55,012

Martln-

Rapid Tran.. Aagust....
Indlanap. Shelby ville
A Southeastern Tr. July
Intemat'l Tract Co.
System (Buffalo)... August
Ithaca Street Ry
July
Jacksonville Eleo.Co, August...
Lake Shore Elec. Ry August
Lake Street Elevated September
liehlgh Traction
September
ville

d25,701

14,186
9.513

429,980 369,635 2,625,423 2,282,512
11,579 12,030
21,789 17,832 166',64"2
128,6'3"i
77,325 47,967 404,414 396,522
c62,557 c61,773 c 678,797 C 566,430
105,522
13,291
6,379
74,717

Leliigh Val. Trac. Co,
Street Ry. Dep
July
Electric Light Dep. July

83,882 72,987 454,993 884,587
7,118
89,002
11,645
76,071
165,!i52
Lexington Ry
July
32,725 29,815
141,186
...
LondonSt. Ry.(Oan.) August
112,980
19,094 16,102
97,603
Mad. (Wis.) Traction. September
8.049
7,525
69,488
60.624
Mass. Electric Co
708.324 650,073
July
Metrop. 8t.Ry.(N.Y.)
tnclud. 3d Ave. RR. Jtdy
1,8S8,IW1 1,743,814
Met West Side Elev.. September 169,899 157,126 1.518.702 1,400,682
MlLEleo. Ry.ALtCo August
264,920 242,508 1,964,081 1,745,607
MU.LtHeat ATr.Co. August
49,339 44,136 278,377 231.151
Montreal Street Ry.. August
211,816 199.404 1.468.346 1,864,070

MuBk.Tr.ALlght.Co.

August
August
Gas Department... August
ITew London St. Ry.. July
N. Y. A L..I. Tract.. August
Street Ry. Depart..
Electric Light Dep.

10,920

x4,660
3,300
11,863
5,474

11,662
1,933
2,478
10,952
3.072

r52,727
rl8,417
rl9,188

r86,l71
rl3,428
rl8.80d

5

...'

I

J

>

THE CHRONICLE.

'2-20

Xaming$.

Latest ero$s

to

Latett Datt

Ourrent

Previout

Tear.

Tear.

Jan. 1

Interest Chargres and Hnrplns.

6BOS8

WeekorMo

Prer'ia
Ttar.

O^fr'nt

Ytar.

•

Norfolk Ry. A Light. Angnst
Hor. Ohio 'IT. & Lt Co. September
Northern Texas Trao. August

S

68,098
84,015
43,860
Northweetem Kiev.. September 102,160
Oakland Trane. Con* August
loo.set
Olean St. Railway... Augnst
9.S18

Orange Co. Traction. Angnst
Peeke.L'fgABR.Co. Jane
Philadelphia Co. and
Affiliated Corpor'8. August
Pottav. Union Tract September
Pneblo & Saburhan
Traot.ALlght'gOo July
Rtb Co.Oen.— Roads. September
tight Oo'B
September
Rochester Railway
September
Bookford Belolt &
JaneevlUe
September
St. LonlB Transit .... September
Ban Bernardino Yal.
Tract. Co
August ...

14,02.'>

67,i92
95,92.^

84,^31
6,319
14,-<:47

10.04&

I

411.138
666,302
293,348
910.S24

S

[Vol, lxxvii.

—
Eoads.
Detroit United Ry.

849420

Ind'p'lis

57,322
78.648

612,391
38,414
69.627

July 1 to Sept 30
Interurban St. Ry.—

*108,757

d86,796

737.659,

19,700

1, 061

.879

12,928

.

Current

Tear.

Year.

Year.

»T>

$

$

84,208
743,762
4,167
10,417

AEast.Ry Sept

Apr. 1 to June 30.... 2.179,297
July 1 to June 30
8,618,948

Kingston Consolidated—
July 1 to Sept 30....
17,901
Northern Ohio Traction
277,172
44.222
A Ll«ht Co
Sept
22,707
29.159 26,126 244,603 207,051
Jan. 1 to Sept 30
199,665
16,806
1.905
1,903
16,483
Rochester Ry. Co, Sept
25,742
106,779 94,199 940,081
822,919
July I to Sept 30
77,580
Jan. 1 to Sept 30
230,617
101.689
11,826
635,109 561,921 5.401,812 4,731,256 Rookford Belolt A Janesvllle
Sept
2,708
Jan. 1 to Sept 30
22,708
dl6,330,
8,144
Bao Panlo (Brazil)
San Benardino Valley
Tram. L't & Po. Co. WkSept.ZO 81,814 29,170 941,460 860,042
Traction Co
Aug.
1,872
Sayannah Elect. Co. August
50,756 46,193
July 1 to Aug. 3i
3.744
(kffanton Railway... Augnst
80.035 88,147
Twin City Rap. Tr...Sept
78,438
188,541 179,116 1,362,929 1,185,605
Seattle Electric Co.. |AugU8t
Jan. 1 to Sept 30....
705,631
Sonth Side Eievated- September 122,830 114.868 1,135,882 1,042,783
Third Avenue (N. Y.)—
1,014
43,913
Springfl'd & Xenla Tr Wk Oot-lli
Apr. 1 to Jime 30....
437,075
Syracuse Rap.Tr.Ry. August
68.5681 60,580
522,056 469',764
July 1 to June 30.... 1,746,538
26,55b 18,897
Tampa Electric Co. June
46,355 34,456
Terre Haute Eleo.Co. August
UnionRy. (N.y. )....—
28,864 24,340
Tol. Bowl.Gr.&8o.Tr. August
Apr. 1 to June 30...;.
88,016
Ryu
Toledo
A Light. August
150.615 138,642 1,075,9171 941,418
July Ito June 30
894,949
1,177.769

'

— ^Bal. of Net

Previous

Eai'n'gs.-—.

Previoits
Yeai\

n (all

properties)
Sept
Jan. 1 to Sept 30....

561,899

Int., Jienlals, etc.

Current

*95.836
*642,382
6,300
19,061

•87.577
*614,883
3,544

*120.025
2.079,775
8,281,697 *df. 147268

•29,982
•64,645

9,652

*1,658

8,110

17,073
153,298
24,833
74,753
223,360

17,890
104,687
•27,168
•84,816
•237,782

14,428
94,463
•22,866
•73,670
•164,799

81,258
703,219
3,083

10,1^8.906 9,023.183

148,861

128,281

. .

3,366
28,624

i

1

I

j

.

77,734
683,834

438,045

1,741
4,137
136.891
916,326

131,325
787,641

1,758,361

•169,258
•360.195
•44,526 *df.ii23580

118,736
223,661

•18,667 def.18,110
•24,308
•102,850

j

I

Toledo A Western....
Toronto Ball way
Twin City Rap. Tran.
Union (S. Bedford^.

July
IWk.Oct. 10
letwk.Oct.
August...

17,162
41,545 33,652 1,616,424 1,362,578
77.440 68,714 3,038,2:13 2,735,839
221,697
38.377 3S.390
245,221
Union Trac. ol Ind.. jJaiy
102,414 86,18'i
604.490 425.249
Tinlted of San Fran.. August
572.603 i28,384 4,039.381 3,542,600
Un'ted Trac— (Alb.) Inly
146.268 139,679 962,128 863,967
UtlcaAMobawkVal. Angnst
73.261 62,489
Wash. Alex. & Mt. V September 31,287 17,666 173,330 156,483
West. Ohio Ry
August
25.941
d50.447
839.439
Youngstowu-sharon August
46.961

After allowing for other Income received.
earnings include the Detroit United Railway, Detroit A
Port Huron Shore Line and the Sandwich Windsor A Amherstburg
Railway.
•

n These

I

ANNUAL REPORTS.

i

Spanish sllyer.
These are results for properties owned,
c Results for main line.
d Figures here are from July 1.
jtt These earnings Include the Detroit United Ry., Detroit A Port
Huron Shore Line and the Sandwich Windsor A Amherstbarg Ry.
r These figures are from Mar. 1 to July 31.
t Figures for 1902 cover only the Clev. Elyrla A Western Ry.Co
s For the past six months figures are those of the Harrlsbarg Trac1

I

tion Co.

X Income of Elect.

ng,

Light department, through change in bookkeepshows two months' Income In.Auguat.

Street Railway Net Earnings.

—Current
Gross Earnings. —
Previous

,

Hoadt.
Blnghamton Ry.b..Sept
Jan.

Got

Ito Sept 30....
1 to Sept 30....

Net Eamings.Previous

Current

Year.

Year,

Year.

Year,

$

$

$

$

21,932
182,691
232,867

18,432
159.758
208,067

11.276
85.560
106,253

7.972
67.078
90,480

Pennsylvania
Traction Co. a
Sept
45,753
38,391
9,039
15,876
Jan. Ito Sept 30. ..
391,143
344,689
117,010
133,609
Ohio. A Milw. Elec Sept
40,921
19.347
81,101
12,359
Jan. Ito Sept 30....
194,636
147,405
127,700
87,558
Olereland Southwestern
Traction Co
Sept
43.169
30,464
17,829
15.468
Jan. 1 to Sept 30.
380,232
219,969
136,493
98,848
Detroit United Ry.n (aU
properties). a
Sept
411,812
370,959
178,216
166,697
Jan. Ito Sept 30
3,304,050 2,953,124 1,356,672 1,286,107
Ind'p'lis A Eai>t. Ry.Sept
20,31
11.895
10,467
6,627
July 1 to Sept 30
55,012
29,468
Interurban St. By. (>'. Y.)—
3.S 64,239 3,748,838 2,285,326 1.940,274
Apr. Ito June 80
July 1 to June 30. ...14.975,370 14,494,671 7,906,942 7,762,570
Kingston Consolid'd—
July Ito Sept 30....
40,111
36,900
19,409
17,662
LebiKh Traction... Sept
13,291
2,854
6,379
7,137
105,522
Jan. 1 to Sept 30.
74,717
46,711
28.139
8,C49
Madison Traction.. Sept
7,625
2,669
2,967
69,488
60,624
20,074
Jan. Ito Sept 30
27,879
North. OhloTrao. & Light
Sept
81,016
67,492
40,097
31.495
Oo.a
666,302
551,899
304,352
217,761
Jan. Ito Sept 30
a Central

Orange Co. Tract... July

Aug
Jan. 1 to Aug. 31

16,202
14,025
73,648
1^6,779
838.745
940,081

13,069
14,247
69,627
94,199
295,499
822,919

7,162
6,852
24,748
52,485
171,069
464,521

6.620
9,426
29.467
47,298
147,332

BoohesterRy. Co.. Sept
July Ito Sept 30....
384,377
Jan. Ito Sept 30
Rockford Belolt* Janes11.826
Sept
6,034
vllle
101,689
51,232
Jan. 1 to Sept 30....
San Bernardino Valley
8,144
Aug.
3,613
Traction Co. b
16,380
7,831
July Ito Aug. 31.-..
58,147
80,035
39,730
22,821
Scranton Ry.Co.. ..Aug.
Third Ave. (N. Y.) b—
352,6f;5
594,557
2-16,596
881,462
Apr. Ito June 30
8i^4,666
July Ito June 30.... 2,199,319 2,301,088 1,02^,725
339,669
216,329
372,252
209,059
Twin City Rap. Tr.tSept
Jan. Ito Sept 30.... 3,020,843 2,€67.0y5 1,621,956 1,475,776
Union Railway. N. Y.b287,329
97.164
100,626
315.137
Apr. 1 to June 30
314,728
324,932
July 1 to June 30.... 1,135,054 1,022,688
a Net eamlngB here given are after deducting taxes.
b iletearnlngB taereglven are before (lerlnoting tates
n These earnings Inclnde the Detroit United Ry., Detroit <fe Port
Huron Shore l..lne and the Samiwioh Windsor A Amherstburg Ry.
m Formerly the Ilarrlrtborg Tracilon Co. The flgurts for the llrat Blx
mouths are the earnings vi that company.

Annual Reports,—The following is an index to all annual
reports of steHin railroads, street railways and miscellaneoca
companies whicli have been published since the last editions
Investors' and Street Railwat Supplements.
This index does not inclnde reports in to-dav's Chboniole.

of the

Page.
RAILROADS, Btc—
Railroads. Etc.—
Page.
399 Mobile & Onio
Amer, Agrlc. Chemical
765
American Can (bal. sh. Auk. 31)... 822 Montreal LUbt Heat A Power
194
American Qlue (statem't May 31). 296 Nashv. Chat. A at. Lonia
766, 949
501)
Nat. Enameling
Amer. Hide c& Leatner
Stamping
899
449 New England Brick
American Locomotive
248
American Smelt,.* Refining. .627, 651 NewEng.Cot.yarn(bal.8h.June«7) a48
7ft7
American Meel Foundries
N. Y. Cent &Hud Kiv
819,828
193 New York Dock Co.
American Thread
822
821
New York N. H. & Hartford
Ann Arbor
949
449 New York Oat. & Western
Associated Merchants
625, 650
.ft

Atchison Top. & Santa Fe
Boston & Maine
Buffalo Roch. & Pitts
Buiralo

&,

624, 6al

847,

Susquehanna

Bultericli Co.

(

hal f-year)

Calumet & Hecla Mining

Cananan

Paciflo

624,

Central Foundry
Central of Georgia
Central RR of N. J

764,
B91,
6i4.

Cbesaueake & Ohio
ChicaKO Great Western
Chicago Ind. 4 Louis
Chic. Milw. & 8t. Paul
ChicaKO & North Western
Chic. Term. Transfer

947
H63
346
707
193
«36
247
347
775
708
639
7rt4

50:i,

093
514
948

Clev-. Cin. Chic. & St. Louis... 609
Col. Fuels Iron
Col. Spr. & Crip. Creek Dist. Ry....
Consolidated Lake Superior.

517
693
347
193

Consol Gas (bal. sheet Jane 30)... 628
«yi, 704
Denver * Kio Grande
Distillers' Secur.

Erie

KR

Corp

767, 77S
946, 954

296
BvansvilleA Terre Haute
628
Georgia Southern 4 Florida
...449
Gila Val. Globe & Northern
.rihern
8il,
946,
974
N.
Great
398 ...
Gulf & Ship Island
7H4, 777
Hocking Valley
Illinois Brick (xtatement June 30) 296
lllinolsCenir.il

NorcrosB

June

Bros.

Co.

(statement

30)

Norfolk A S luthern
Norfolk & Western
625,
Northern PaciHc
Pacific Mail Steamship
Peoria* Eastern
Reading Co
819,
Repub. Ir.&Steel(0mo8.to J'neSO)

Rock Island Co
St. Joseph & Grand Island
San Fran. & Northern Pacific
Seaboard Air Line .347, 625, 646,
Southern Indiana
Southern Railway
690,
Standard Rope* Twine
Syracuse Ltg
848.
Union Iron &Steel(statem'tJ'nel)
.

Union

.

Pacific...

399
627
612
767
248
2*8
882
848
509
S9i
449
766
V9d
696
694
399
296
£96
399
450

United Stales Envelope
United SiatesGlass
U. 8. Realty 4 Construction (9
mos. ending Jane 30)
897
U. S. Steel Corp. (9 mos. ending
ingSept.Su)
950
Virginia Carolina Cbemioal
194

Wabash RR

687

628
Welsbach Co
Westinahouse AirBrake
7B8
Westinghouse Kl. & Mfg. (balance
828
sheet June 31')
820, ^3^ Tazo & .Miss. Valley
691, 712
STREET Railways—
450
247
Blnghamton (N. Y.) Ry.
sheet
398 Boston
Worcester St. Ry. (bal.

International Paper
Inierurb. Rap. Transit (bal.

June 30)
Lehigh A^alley

St,

Louisville & Nashville
Maine Central

822, 946, 9^9
947, 960

821

Manhattan Ry

848

Minn. St. Paul & Sanlt Ste. Marie.. 76t
692
Missouri Kansas & Texas
SM
Mobilo Jackson A Kan. City

ance sheet July 1)
692.
Brookly n Rapid Transit
iDiernatlOMHl Traction (BalTalo)..
Interurban St Ry., N. Y
New Orleans Railways (6mo8.)
Phlla. Rapid Transit
United Traction of Albany, etc.
.

.

.

86
718
269
H48
627
767
767

Internrban Street Railnay, Jfew York.
(Lbbseb of the Metkopolitan Stbkbt Railway Ststbm.)
f Report for the year ending June SO, 1903. J
Oa subeeqaent pages will be foand the report of President
H. H, Vreeland for the late fiscal year and nninerone elaborate tables of earnings and balance sheet, exhibiting for the
first time the actual position of the leasee and all its sabsidiary

companlee,— V,
(ilalf

77, p. 948, 88.

& Ship

luland Railroad.

{'Report for the year ended June SO, 1903.

On pages 1237 to 1239 of to-day's Chronicle will be found
the co'japany's report for the late fiscal year, containing the
remtirksof President J.T. Jones, the balance sheets of June 30,
1903 and 19J2, the income accjanta for two years past, the
traffic statistics and the certificate given by a firm of public
ac,;oantants after examination of the company's books.

.

Oct.

THE CHRONICLE.

17, 1903,]

Stati»tics of Operaftons.— Operations, earnings,
etc., have beei^:

C Proceedings at Annual Meeting Oat.

1902-03.

1901-02.

251

251

Average mllee operated
Operntions—

.nn Ktn
393,751
*^S'°^^ 9,837.143
li,lHb,25i

Passeniiers carried
PasBengerm carried one mile
Rate per passenger per mile
Tons fr^i/Ut luovcd*
Tone freight moved one mile*
Rata per iiin per mile*

,

fio'^^o'j

2\'>75 ots.

903.918
-i*,o5„?„
70.880.918 57,313, Sll

—

1-905

l'88^ota.

Average train load, revenue (tune)
E»rulngs per passenger train mile

$0-8i
$i 13
$i,477

$1-01
$3-31
$6,793

Earnings per freight train mile
Gross earnings per mile
' Not Including company's freight.
EABNIMOS, EXPENSES, CHARGES, ETC.

190102.
9

1900 01.

257.921
1,091,598
26,165

195.466

1,338,861
42.182
I,705,0i7

1,374,684

1,030,849

515,497
208,323
960.876
66,991
27,930

424,191
162,923
287,4^2
47,262
18.685

370,167
147,687
210,890
5i,907
12,009

1,079.618

940,514
(6842)
434,170

795.560
(7718)

629,148

434,170

235,289

194,072

169,145
6,166

227.500
3,242

175.3U

230,742
4,547

1902-03.

9
324,003

Total

Expenses—
Transportation

Maintenance of equipment
Maintenance of way, etc
General
Taxes
Total

Per cent of expenbes to earnings
Net earnings
Other Income

—

Total

Dividends

625,429
3,719

295,431
333,717

Total
Burpins

-V.

(63-32)

1,359
(2%) 10 0,000

Interest

ots.

l«t

J^^^l,

Sattiinat —
Passenger.....
Freight
Mall, express, etc

8l<5,015

19,367

-235,289

258,859

77, p. 610, 398.

WiscoDBln Ceutral Railway.
('Report for the fiscal year ending June 30, 1903. J
The remarks of President H. F. Whitcomb are given in
fnll on pages 1235 to 1236.
Below are comparative statements for fonr years
:

Miles operated June 30..
Operatio7is —

1902-03.

1901-02.

1900-01.

1899-00.

977

977

982

960

4,316,300 4,004.906 3.428,562 3.989,082
Total tons carried
737111311 636393127 522867887 571086238
Tbns oarrl«d 1 mile
Aver, rate per ton per m. 0'682 ots. 0709 ots. 0742 ots. 0742 ots.
286-64
258
259 98
Aver. rev. tons p. tr'n m. 303-66
$191
$203
$189
$207
Earns, per fr't train mile
980,890 1,022.109
1,122.060 1,059,910
No. of pass, carried
Ho. of pass, carried 1 m. 63,182.611 58,036,192 54,131.195 55,531.569
55-19
54-33
64-76
56-31
Aver dlst car'd (miles)-.
Aver. rarnlnKB per pas208
203
208
2 05
senger per mile Cents
Aver, earnings per pass,
88-37
84-29
90-51
8052
train mile
Cents
QroBs earnings per mile.
$5,575
$6,178
$6,808

Earnings—

$
$
4,508,877 3,879,047
1,267,360 1,180,763
265,234
264,465

4,174,776
1,182,493
280.147

6,041,471

5,324,275

5,637,416

781,674
630,100
& strnots. 763,097
Malnt. of eqalpment
721,615
609,597
478,313
Oonduotmg traneport'n. 2,4.59,098 2,253.947 2,112.784
262,183
2a8,156
245,316
General expeneea

766,685
492,260
2,102,167
219,824

9

FrelMht
5,024,477
Passengers
1,359,570
267,815
Mall, express and mlsel.
Total

6,651,862

Eipenses —
Maine, or way

Total
4,205,993 3,883,374 3,466,463 3,580,936
(64-28)
(63-52)
(63-23)
P. 0. of exp. to earningH.
(6511)
Balance, net earnings... 2,445.869 2,158,097 l,ii57,812 2,066,480
8.278
Other income
24,762
38.430
37,076
Total net Income'.
netlucl—
Taxt^s accrned
Interest on bocds

Rentals accrued
Mlsoellaaeous

2,484,299

2,195,173

1,882,574

2,064,758

234,291
1,182.391

218,493
1,113,789
876,364
6,422

213,115
1,036,669
332,829
3.842

206,705
1,026,954
338,184

1,715,068
480,105

1,636,455
246,119

1,571,843

392,434
1,111

1,760,227

Total
SupplUB

724,072

CONDENSED BALAHCE SHEET JUNE
1903.

49.187,861
4,112,736

est. & Improve'ts.
,
Materlalin private tracks
126,827
CompaDy's stock in treasury
2,585,020
Stocks and bonds owned
60,034
Trustees
78,038
Binklcgfund
81.987
Special improvement fund
29,070
Fuel. Buppliea, etc
721,018
Agents aid conductors
428,570
United States Post Office
31,318
Individuals and companies
194,007
Cash
1,376.912
Trust equipment and miscel
592,067

Minnesota real

Total assets

59,608,466

48,584,810
4,024,078
670.960
137.970
127,397
2,535,020
2,585.019
58,778
53,932
78,038
78,038
400,142
1,311
792,316
171,659
601.647
456,110
290,939
381,990
30,429
31,250
214.1/6
142,557
6-i7,9b8
1,383,581
329,002
393,541

49.440,620
4,024,078

59,251,033

Liabilities-r-

Prelerred stock
12,500,000
stock
17.500,000
Bonds (see Investors' Scpp'm't). 27,320," 00

Common

rolls

Interest en funded debt, accrued.

Equipment renewal account

Slnlsing fund trustees
Accounts payable and mlBoeH'ons

liooomoilves
Profit

and

loss

Total UablllUes
-V. 77, p. 951.

1901.

$

Road and securities
Equipment

Vouchers and pay

492,915

30.

1902.

.....„.„.

12,500,000
17,600,000
26,869.500
458,030
603,849
539,549
551,«14
128,250
160,646
29,029
263,584
231,662
322,205
128,458
632,049
717,622

.59,605,466

53,251,083

122i
Canadian Paciflo Hallway Co.

charges,

OPEB^IXOMS AND FISCAL RESULTS.

Deduct—
Interest on bonds
<J»r trust and other

:

:

7.

190S.J

President Sir Thomas Q. Sbaughnessy, in moving the
adoption (f the report for the fiscal year ending Jane 30, 19D3,
said in substance
:

Report.— The result of the year's operfttlons was partlcalarly grati-.
fylng. notwithstanding the 'ubstantlal increase In working expenses!
and your direotors felt Justitted in distributing, for the seoond ualf o
th"* flsoal year, an additional •« per cent.
Bond Rkdemption —Since the cublloatlon or the report a further
amount of *1.000,000 has been depoeltnd wlih the Dominion Gjvernnient toward the redt-tnpllon of iIih aig per OHiit land grant bonds,
leaving thrt balance to be paid on that security $13,500,000.
DivioEND RKCKiVBD—Tne directors of the Sliiiueapoila St. Paul &
8auU Ste. M*rle R*ilway Oo., at a meeting hold in Au«{U-tt, declared a
dlvideiul out of the earnings of that oonipjny far the last calendar
year of 7 per cent on the preferred sharns and 2 per cent on thw common shires, payable 15th instant. Your portion of these dividends
amounts to $388, H70.
ATLANTIC 88. Link —Although not an ausoioloas season for Atlantic
tratli ^. your steamship line, escabll.ihed on tlie opening of 8t. Lawrecoe
navl:/at'oi), hiis done very well, th(^ earnings, which iire not Included
in the pnbllsh'tl monthly returns, but ar^ kept separately, being more
than sutUoient to meet the Interest on the investment.
Lands —The location of the balance of the lands earned by the oonetrnoion of your main line and branchi^s In Manltobn and ihe Northwest, has been finally and satisfactorily settled wilh the Dominion
Qoverument.
Harvest. — Wet weather has had the eiTeot of delaying the harvest
in the Northwest, and, as a consequence, your grain trafllo this far
this season has been less than it was a year ago, but there Is every Indication thit the total yield, when harvesting has been completed,
will reach last year's figures at least.
than for many years past.

The orops

In Ontario are better

IMPROVKMBNTS.- Excellent progress has been madfl. up to the present time, with the vast works of improvement undertaken by your
company during the past two years. The enlargement of the yards at
most of the divisional points west of Lake Superior will facilitate the
movem'^nt of tratfio, and the grade reductions, that will be
completed before the crop ommenoes to move next autumn, wlUhave
the effect of increasing the haulage capacity ot your locomotives by
."iO to 100 per cent over 1,200 miles of your mainline In the busiest
eeotlons of the country.

The following motions '(here given in condeneed form.
Ed.) Wire then adopted
:

Kingston & Pembroke.—That the purchase of a controlling InterKlngstou & Pembroke Ry., which extends from Renfrew to

est In the

Kingston, 104 miles, such purchase comprising '22,602 shares of the
i)referred arid 35,182 shares of the common stock, oonstituing about
83 per cent of the whole capital stock, be ratified, the directors to
enter into a working arrangement with that company pending the execution of a formal lease.
Calgary & Edmonton Ry.— That the lease from the Calgary &
Edmonton Railway Co., as lessor, to this company as 'essee, be hereby approved, said lease. Including the main line from Fort MoLeod to

Edmonton, and

all ext;eneions, for

99 years, at an aannal rental of

£14,868, being equ»l to the Interest npon the present 4 per cent debenture stock, namely £1,121,700 sterllog, terminable at the expiration of 99 years, the payment of such Interest being guaranteed by
this company; the lessors to Issue bonds, debentures, debenture stock
or other seourltles upon the request ot thij company, the interest
upon the same being payable by this company, and also at the option
of this company to renew the lease for a farther term of 99 years; and
at the expiration of said 99 years this company either to pay off the
debenture stock of £1,121,700 or to renew the lease on similar terms
for a further period of 99 years
Also, that the guaranties provided for In said lease be ratdfled.
And. further, that the purchase of the whole of the capital stock of
the said company for th-* sum of .-^500,000 be confirmed.

Lindsay bobcayoeon & Pontyi-ool Ry.—That the agreement be
approved for a lease of the Lindsay Boboaygeon & Pontypool Ry. when
constructed, from Burketon to Bobcaygeon, 40 miles, for 99 years, on
the ba,sls of a rental of 40 per cent or the gross earnings, with a minimum rental of $20,000 per aonum and a maximum rental of $28,000
per annum, and with an option in favor of this company to purchase
the oapical stock of the said

Manitoba

company within 12 years

for $20O.OuO.

North Western Ry.— That theagreament for the

construction of a further extension of about 33 miles be approved, and
that the directors of the Canadian Pacific be aurhorizid to dispose of
consolidated debenture stock for the purpose of acquiring the bonds,
which are Issuable on such extension at not exceeding £3,000 per
mile.
Extension of Pipestone Branch.— That the oonstrnotlon of a
branch from Reglna to Areola, about liS miles, be approveii. and the
Issue of consolidated debenture stock be authorized at not exceeding
$20,000 per mile thereof.
Atlantic Steamshu-s.— Whereas this company has recently purchased from Elder Dempster & Co. 15 steel sorew scearashtps, viz.,
Montezuma, Montreal. Milwaukee, Mount Royal, L'*ke Michigan,
<k

Mount Temple. Like Manitoba, Lake Erie, Lake Chimplain. Montfort,
MoEteagle, Montrose. Montcalm, Monterey aud Monmouth, together
with their appurtenances, for £ 1,417,500, that this company dispose
of ojnsoii jated debenture stock beariag interest not exceeding 4 per
cent per annum, to the amount of £1,417,5U0, for the purpose of paying therefor.

EQaiPMKNT AND lMPHOv«MENT8.— That the shareholders authorize
the expenditure of an amouut not exceeding In ine aggregate $9,500,000 for the following purposes
1. Additional rolling stock equipment, as required
$5,000,003
2. Increased terminal lacllitie.s, grade reducclons and additions to property other than new lines, in the discretion
of the board ot alreotora
4,500,000
-V. 77, p. 950, 636.

Dalnth Sooth Sbore & Atlantic Railway.
(Report for the Hscal year ending June

SO, 1903. J

The road operated aggregates 573 miles. Equipment
Locomotives, 75, against 91 on Jane 80, 1903, sixteen locomo12,500,000 tives having been sold for $63,700: passenger cars, 58; freight,
17,500,000
Of the 2,457,565 tons carried in 1902 03,
27,634,500 etc, cars, 2,722.
423.383 ores supplied 1,243,349 ton? (5059 p. c.) and Inmber and
554,702 logs, 438,947 (17-85), contraaiing with 1,095,198 and 515,988,
41,655 respectively, in 1901-02. Net charges to construction
ac225,63 7
net credit to
81,555 count during the year 1903 03, $&6,587
122,937 equipment account, $56,874. The ooerating exp-enses inclade
276,938 cost of rebuilding and filling bridges and patting in iron
59,381,306 spans, which for the year ending Jane 30, 1901, was $36,717,
for year 1901-02, $16,073, and for year 1903-03, |7,851.
59,361,306

;

J

:

THE CHRONICLE.

1222

Reenlts of operations for three years were as given below

:

OFE&ITIOMB, BASNISOS, BXEN8ES, ETC.
1900-01.
1902-03.
190102.
Operations852,345
641,210
681,668
Total revenae pafieeogers oarr'd.
do
do
1 mile.. 85,827.390 32.816.802 28.896,517
do
2-743
2-733 ots.
2-692 ota.
018.
R«te per passenger per mile
2,391,654
Total tons carried earn'g revenue 2,457,565
2,311,464
carried
121,260,119
one
mile
Tons
148858714 139.431.327
1-231 Ots.
Av. recf Ipte per ton p. mile all 11*1 1-058 ots. 1-131 ote.
Eaminga—
9
$
$
MercHandlee freight
1,357,117
1,839,325
1,339,560
Iron ore freight
248,476
259,549
253,936
Passenger
815,914
918,393
993,879
Mall, express and mlsoellaneoas.
162,674
178,915
179,146

Gross earnings

2,772,135

2,690,569

2,484,211

433,516
236,446
1,001,693
86,435

4M,055
838,566

421.889
227,649

93;i,262

931,7ti0

75,935

74,183

1,688.818

1,651,931

Erpentes—
Malnt'ce of

way and

etrnottires.

Maintenance of eqnlpment
Conducting transportation
General expenses

Operating expenses
1,75S.090
(63-4)
Pet cent of expenses to earnings.
Net earnings
1,014,045
Other Income
14,665

Net Income

Taxes
Balance, aurplus

....

859,700
200.214

1.003,036
859.700
128,009

1,059,914
def.31,204

987,709
20,327

tBJLLANCB SHEET
1903.
190?.
Anttt—
f
$
Road A equipm't.. 45,424,115 45.384,402

Mack. Tranp'n Co.
Lake Super. Term.
4 Transfer By...
Lake Mich. & Lake

237,37i

Superior Ry.
Uineral
Rani;e Ry.
"
Ste. Marie Un..n.Co.
Western Exp. Co.
Current accounts

7,662
474.795

and

Total asset

—V. 77,

30.
1903.

UaMUtiea

Common

1902.

%

t

stock.... 12.000,000 12,000,000
Preferred stock.... 10,000,000 10,00i),000
Bonds & car trusts. 23,1195,111 23,340,560
•

1

.

22,242

19,901

25,000

7,663
351,195
68.7B7
25,000

435,409
225,197
1,970,417

447,881
198,013
1,936,566

.48,878.227 48,666,758

Tot. llabUltle8.48,878,227 48,666,758

5rt,018

p. 769.

Northern Pacific Railway.
{"Report for the year ending June SO,

ing.

OPEBATIONS AND FISCAL BBSCLTB.
1902-08.
1900-01.
190102.
Aver, miles oper....

8,112

8,019

8,100

1899-00.
4,714

Locomotives ........
Passengers cars

902
723

796
683

704
622

594
610

Equipment —

Freltrht oarB

32,087
30,961
26,704
21,414
Miscellaneous cars.
3,231
3,317
8,089
2.849
Operations
Passengers carried. 4,917,814
4.192,814
3,293,722
3.342.735
••
carried 1 mile. 473,754.272 406.704,017 308,819.605 255,680.585
Rate per pa88,p.mlle
2-15 Ots.
2'18 ots.
2-27 cts.
2-3 i otB.
Rev. freight carried 12,791,717 11,080,101
8,792,885
7.121,655
"1 m.* 8,815,942
3,300,253
2,440,662
2,205,317
Rate per ton p. mile.
0-900 Cts.
0-944 ots.
0-988 ots.
858 Ots.
Pass, earns p.
of
road (aver. mile).
$2,375
$3,097
$1,663
$1,562
Pass, earns, p.tr m.
$1-5985
$1-5432
$1-4226
$1-6595
Freight earns, road
mile (aver. mile)..
$6,515
96,022
$4,604
$4,697
Total freUht earns.
per train mile
$3-0022
$3-1724
$3-1203
$3-1392
Gross earns, per
road mile (aver.)..
$9,026
$8,245
$6,384
$6,868
Oper. expen. per
road mile (aver.).
$4,701
$3,263
$4,241
$3,088
Tot.rev.tr. mlleage.$15,432,303 $15,432,303 $12,454,795 10,491,441
Aver. No. tons rev.
freight In train....
346-37
824-37
84401
817-67

—

m

Tons p. train, company &oom'l
*

402-27

38074

400-91

378-81

000*8 omitted.

EarningsFreight

$33,301,958 $30,327,013 $23,481,713 $23,140,180
10,.^95.447
9,177,509
7,247,000
6,219,996
alaU, exp, &mlso...
2,244,700
1,982,888
1,832.270
1.661,143

Passenger

Total grosB.

$16,142,105 $41,387,880 $32,560,984 $30,021,319

Expenses—
Maint. of way
Slalnt. of equlpm't.

Transportation
General

1903.

President Charles S. Mellen says in substance :
Financial.—No charges have been made to capital account other
than for additional equipment, the construction of branch lines and
purchase of real estate, all expenditures for Improvements having
been made out of Income. In addition to $3,924,299 of equipment
purchased and charged to betterment and enlargement funds (constituting additions to capital account), there were purchased or built at
the company's shops and charged to operating expenxes, as replacements, 5 locomotlTes and 265 oars, at a total cost of $500,354. The
charges to income for additions and betterments aggregated $3,000,000, viz Spurs, sidings, etc.. $763,941; bridges, $402,840; stations
and other structures, $628,387; carried forward unexpended, $857,097; remainder scattering.
The charges to capital account for new property, having been expended from betterment and enlargement fund, aggregated $8,193,423,
viz.: Real ectaie and right of way, $405,847; new branches and extensions, $!:Jl7.39«; second track. Auburn to Black River Junction, $54,109; purchase of Monte Cristo Ry.. $512,413; purchase of Bellingham
Bay &. Eastern RR.. $632,400; cost of securities Minnesota & International Ky. $1,709,968; cost of Montana Union Ry., $127,500; cost of
Washburn Bayfleld & Iron River Ry.. $9,490; new equipment (106
locomotives. 41 cars in passenger service and 1,661 cars In freight
service), $3,924,299.
The betterment and enlargement funds now contain $1,403,629. In
addition to above cash there Is In hands of trustee of prior lien mort?age, in "net moneys" account, the sum of $1,788,744 available for
Qtnre expenditures.
New Lines.— Three extensions, aggregating 35-68 miles, were completed and put In operation during the year, and the construction of
seven branches or extensions, aggregating 291-55 miles, has been authorized; but the same were not completed June 30, 1903.
General.— The business conditions In the territory served warrant
the prediction that the present fiscal year will compare favorably with
the one Just closed. The results for the year from operation of the
Burlington System, in the stock of which your company Is owner of a
half interest, have been highly satisfactory. The expected advantages
to your company and to the communities served by itfrom theacqaisl
tlon of its holdings in this property are being realized. These holdings have not required the making of any advances by your company
during the year; no consideration has therefore been given the same
In the figures presented In this report.
:

General Manager Thomas Cooper says in part :
Ijipeovements and Maintenanob.— The excellent physical condition of the permanent way was maintained during the year, and the
work of replacing temporary with permanent structures continued.
The principal items of work on permanent way during the year Include: Main Hue relaid with 86-pound rail, 10363 miles; new 72pound rail, 187-62 miles; branch lines re-laid, 6783 miles; sidings and
spur tracks constructed, 12452 miles; track ballasted, 215-31 miles;
cross-tie renewals, main line, 1,332,059; cross-tie renewals, branch
lines, 7.54,503; timber bridges replaced by permanent structures. 2-85
miles. Of the 2,750 miles of main track, 104 miles are laid with 85 lb.
steel, 4 miles with 76-80-lb. steel, 1,575 miles with 72-lb. steel, 120
miles with 67-70-lb. steel, 705 miles with 66 lb. steel, 241 miles with
56-eO-lb. steel. Total second track, 67 miles; steel. Iron and stone permanent bridges aggregate 8 56 miles In length, limber and combination Iron and timber structures aggregate 73 37 miles. The total
length of timber structures replaced by steel bridges, embankments or
In other permanent form from July 1, 1885, to June 30, 1903, Is 91-49
miles.
KQtnPMENT.— The total number of locomotives on active list June
30, 1903, WAS 902, a net Increase of 13-3 p. c. In number and of 31-5
p. 0. In weight, compared with June 30, 1902. The total number of
oars In freight service was increaHed during the year from 30,1*61 to
32.057, and their total capacity from 848,881 tons to 905,045 tons, or
6-6 per cent.
were able to handle the heavy traffic without
EEQUIKE.MENT8.—
unusual ditllculty; nevertheless the need of still further additions to
equipment and transportation facilities is apparent. The line from
Btaplea to Wadena Junction (19is miles) should be double-tracked;
ultimately this double track must be extended west to Winnipeg Junction and then to Fargo. The passing tracks have aflorded considerable
relief, but additions are yet necessary for economical operation.

We

The year's tonnage (12,791,717 tona, against 11,080,101 in
1901-09) included :
Coal and coke 2,160,924 tons (16*89 p. o ), against 2,200.603 tons In
1901-02; wheat, 1,281.394 tons (1002 p. c), against 1.485,984 tons In
1901-02; other grain, 498, S25 tons; flour and other mill products,
815,098 tons; lumDer and other forest products, 5,090,387 tons (3979
p. c), against 3,694,694 tons; ores, 485,656 tons; remainder scatter-

Canadian Phc. Ky.
Buar. ini. adv'ce. 2,388,555 2,241,275
Canadian Pac. Ry.
198,013
198,013
ceneral account.
95,994
South Sh. Land Co. 115,994
15,931
SI. H.&O. Lands..
13,374
16,000
16.000
Bills payable
432,682
440,041
Current accounts..
Accrued interest
423,497
312,938
and taxes

mlscel'Ious..

Material
Profltand loss

237,87-2

JUNE

829.280

1,001,751
6,285

1,028,710

Dedtict-Intereeton bonds

(66-6>

(62-7)

[Vol. lxxvii.

$7,117,835
3,887,807
11,384,780
1,642,171

$6,767,757
3,404,995
10,139,817
975,845

$5,249,068
2.455,823
8,061,717
873,536

$4,874,037
2,232,400
6,514,490
778,652

Total expenBeB..$24,082,093 $21,283,414 $16,640,144 $14,894,628
$22,110,012 $20,098,966 $15,920,840 $18,626,690
$1,421,484 $1,149,890
$920,352
$850,590
Rentals, etc
150,548
120,743
112.852
134,690
Additions <& imp'ta,
8,000,000
3,000,000
2,011,288
3,000,000

Net earnings
Taxes

Net oper. inc'e.. $17,538,085 $15,828,833 $12,884,813 $11,663,247
Mlscel. income, not
IncL land sales...
1,112,850
843,768
743,787
688,821
Balance for int.,$l8,660,58S $16,672,098 $13,898,300 $12,348,768
Interest
$6,904,697 $6,624,366 $6,395,681 $5,864,950
Dlv. on pref. stock
(2)1,500,000 (4)3,000.000 (4)8,000,000
Dlv.onoom.stk.(6is))10,074.944(8)6.999,946 (4)8,200,000 (3)2,400,000
Bal.,Bar.fory'r. $1,670,946

$1,547,286

BALANCE SHEET JDNB

$1,002,619

1902.

1903.

$1,083,819

SO.
1903.
$

lAabUUie^-

1902.
I

Assets—
$
$
Nor. Pac. e8tate.279,041,836 280,398.187

Common stock.. .156,000.000 165,000,<100

Equipment

Mortgage debt. .277,738.600 271.202,700

28,496,038

24,571,738

Collat. with true.

Available

prior

bonds

Nor. Pac.-Gt.
Nor. joint :bds. 109,091,310 109.078,510
Sinking fund.... 8.»66,912
1,577.140

Bonds of other

Casn

Pay

Accts. recelv'le..
Bills receivable.

Mater'lon hand.

8.023,620
6.509,887
3.S.3A7

8 4(30,461

Treas. securities 18,828,047
Bett. & enl. fund 1,403 «29
L'sd to Manitoba 7.000,000
Coll.with trustee

St.Paul-Duluth
Div. bonds .... 2.047,140
59tt.b04
In»urance fund.
Land departm't. 6,531,564
Total

-V.

..

8,377,435
4,027.850
39.140
2.643.218
12,774,894
1,334,239
7,000,000

2,475,326
593,849
5,163.210

486.729.585 460,044.676

lien
cos.

2,000,000

assumed,

..

18,540.678 is.sge.-jss

rolls, mat'l,

vouchers, etc..
Taxes accrued..

on bonds
Dividends
Keserve funds..
Int.

Preferred stock
dividend fund
Insurance fund..

4,147,200
H52,03a
1,655.616
2,387,014
1,232.119

4,646.624
562,506
1.632,584
3,386.892
485,167

696.804

693.849
103.811
8.0b4,710

Liquidafn fund.
113,983
Proat and loss.
9,726,656
.

Total

466,729.685 460,044,675

77. p. 961, 767.

St.

Lonls Sonth western.

{Report for the year ending June
President

Edwin Gould

30, 190S,J

says in substance

SECtTEiTiEB, Etc.— The Increase in the funded debt was $312,000. as
follows: $480,000 first consol, mortgage 4 per cents on the Pine
Blufif Arkansas River Ry., 24 miles, and $11,000 to acquire Income
bond certllloates. etc $280,OJO of St. L. S-W. Ry. Oo. of Texas, Dallas
Branch, first mortgage 58, on branch from Noeil Junction to a connection with the Dallas Terminal Ry. & Union Depot Co., 12-13 mllea;
$41,000 of Gray's Point Terminal Ry. first mortgage 5b on 2-78 miles
of additional side tracks. The full ieeue of Dallas Branch first mortgage bonds ($280,000) Is now held in your company's treasury.
The total amount of eauipment trust notes outstanding Jane 80,
1903, was $3,519,731, all t)earlng 5 or 6 p. o. Interest. Of this amount
your company has acquired, from the proceeds of the sale of first consolidated mortgage bonds, notes aggregating the sum of $3,271,696.
The notes thus acquired are kept alive as security for the new bonda,
thus oifsetting to that extent the liability carried in the aoooant
"equipment trust obligations."
Tne increase (book value) in Becurities owned amounts to $4,741,844, asfoJIows: $.S, 609, 696 increase in securities (Including at par
value $3,271,696 equipment notes -see above— and $200,000 ttook and
$126,000 bonds of Pine Blu9 Arkansas River Ry.,etc ), plediced as secnrlty for first consol. mortgage bonds ; $1,132,148 increase in securities held in company's treasury pending iBSue of first consol. mortgage bonds or other dirtposltlou.
Sundry advances, aggregating $1,258,386, have been made to subsidiary roads under construction and for improvements and additions.
Your company has borrowed $600,000 to apply on these advances.
which obligation is shown In the balance sheet under the head of
"Current Liabilities." Your directors do not deem it advisable to sell
bonds at present prices.
NEW MiLBAGE.— The Dallas Branch, 12*13 miles, was opened for
S. F. Ry. track beoperation May 18, 1903, and the use of the G. O.
tween Wylle and DallaB, 25 miles, was discontinued.
;

&

Oct.

THE CHRONICLE.

17, 1903.J

the etook and bonus ot the DalCo., whose tracks measure
about y>« miles, InplndlnK main, oonuectlng, spur and yard traolis.
The Terminal Company opened for business on May 15, 1903. This
property greatly strengthens our position In Dallas and oontlgnoua

Yonr oompany has poroha'^ed

las (Ter.)

Terminal Ry.

all of

& Union Depot

_

territory.

Tbe Texas A Louisiana RR.,t.nfltln to Monterey, Texas. 22 miles,
•was acquired and oonsolldated with the 8t. L. 8-W. Ry. Co of Texason
jaly 1, 190.3. An extension of about 4>« miles Is now under construction. ThiH lino penetrates a dense yellow pine lumber district.
Vice-President and General Manager Britton, under date
1, save in part
OENBRAL RK8DLT8 -After providing for all fixed charges and full
Interest on second mortgaxe Income bond oeitltlcates, the surplus
amounted to $564,375. as compared with $539,424 for the preceding
flsoal year, an Increase of $34,9,M; from the late > ear's surplus and
other miscellaneous Income, appropriations were made for additional
property and tiuprovements In the sum of $544,76.'S. The gross earnings show an Increase of only $11,316, but the showing would have
been much better had It not been f<'r the continuously heavy rains
from November, 1902. to the last of April, 1908. and to oar shortage.
The Increafe of $"^3,097 In operating expenses was due. in a measure,
to rain, but more largely to the labor of replacing of 272 miles of light
rail by heavier rail and to the general Increase In wages and cost of
The total expenditures under " maintenance of way and
all supplies.
Btructnres" show an average of $1,108 per mile of main track oper-

of Sept.

504 p. c. over the preceding year.
Egrii'iiENT— During the fiscal year 2,000 box oars of 60,000 pounds
capacity were ordered, delivery to be made prior to Deo. 31, 1903,
and at date of this report are being delivered at rate of 30 to 40 per
ated, an Increase of

day-

Outlook —The growth

of the country tributary to the company's
during the past year has been very noticeable and tlie outlook for
business during the ensuing year is quite 8atl8faot')ry. Encouraging
reports of the coming cotton crop have been received from the heavier
producing sections along the line, and, except for some slight losses in
• few counties in Texas from the ravages of the boll weevil, the crop
bide fair to exceed tho^e of the past few years. Business oondltlonB
rails

generally are also quite promising.

Of the 2.593,546 tons carried in 190203, lumber furniehed
1,288,946 tons, contrasting with 1,303,741 tons in 1901-02; cotton, 158,852, against 149,989; cotton seed products, 156,725,
against 127,740,

—

Physical Condition. Tables supply the following
Character of main track, 75-lb. steel, 487 miles, against 252 miles on
June 30.1902; 70 lb. steel, 31 miles (all new); 60-lb. steel, 6 miles;
fi6 lb steel, 713 miles, against 952 miles June 30, 1902; 5S-Ib. steel,
2 miles; 35-lb. steel, 41 miles— total, l.280.mlle8. Ballast— Rock, 104
miles; gravel and $>and, 508 miles; cinders, 51 miles; natural soil, 504
miles. Bridges, permanent spans, 6,340 feet; trestles, 4664 miles.
Statiaties of Operation,— Operations, earnings, charges,
etc., have been:
OPERATIONS ASD FISCAL BB8ULT8.
Aver, miles operated
Ope ationt—
Passengers carried.

1908-03.
1.291

1,318,313

1901-02.
1,293

1900-01.
1.276

1,281,928
994.503
67,983.590 41.908,926
2"42 cts.
2 35 cts
2 42 cts.
2,?)86,387
2,399.171
2,101,048
514,942,815 468.837.265 412,395,505
1'08 cts.
1-21 ots.
111 cts.
1,236,335
58,073,255

do 1 m*602,219.465
do
Bate pertoi. per m.* I'lO cts.
252
232
Av.tr.lo'd(rev ytons
$0-833
$0804
Earns.p.pass.tt'n m.
$2-812
$2-583
Earn.p fr'ht tr mile
$5,636
$5,620
Gross earns, per m..
* Not Including company's freight.
Baming»
$
$
1,337,732
1,364.435
Passenger

210
$0 864

Expentu —
Transportation
MHln. of equipment.
Malnt'ce of way,&o.
General

33i,589

7,267,260

7,387,174

5,908,284

2,560,940
828,015
1,434,686
442,523

2,636,721
819,588
1,367,932
358,825

2,499,144
672,139
1,080,320
381,289

2,106,870

5,638,014
402,828

5,555,727
347,098

7,278.575

Total

t)85,123

1,063,760

5.256,164

6.173.066

4,632,892

4.168.073

(71-18)

(62-72)

(70-34)

2,022,411
182,602

2,091,194
89,019

2,754,282
82.196

1,752,211
95,6s5

2,205,013

2,183,313

2,836,477

1,847.896

161,751
1,297,200

195,619
814,843
385,413
59,143

155,771

151,567
800,000
204,889
61,148

Deduct—
Taxes
Interest

Equlpm't payments
Bentals and mlscel.

51,228

800,0(10

358,825
66,907

1.455,0^3
1.510,179
1,281,503
1,217,604
Total
11694,834
1728,190 U,554,974
1630,292
Surplus
second mortgage bonds was
; From these snrpltues interest on the
paid as follows: Earned during calendar year 1899, 9>360,000; during
year 1900, $3s0,u00; aurlng year 190 1, $t00,000.
UPEOFIT and loss account, JUNE 30, 1903.
To which add net profit on
Surplus income current flscal
$199,472
1694,836
securities acquired
year, as above
Deduct Interest earned on
$763,847
8<1 mtee. income bond cerAppropriated by board of
tificates. ^00,000; less int.
directors for add'l property
accrued on these certs,
544,7H5
and improvements
which are owned by the
company (surrendered In
eich.forlst consol. mtge.
bends), »2'-9,540

130,460

Surplus over all charges, &c. 1219,081
Credit balance June 80, IWi. 1,458,017

LeaviDK surplus, after proyldioB for fall interest on
2d mige. income bond cer*

Bal. to
(profit,

•564.376

tificates

June

of

net inc.

Joss)

account

credit

and

Both, 1903

Sorplas, after providing for fnll interest on second mortgage
ended Juae SO, 1902, $5^9,424 10.

CONDENSED BALANCE SHEET JUNE
1903.

Asieta—

$

Boad and equipment

Ry

Investments In stocks and bonds
Advances

Cash
Aeaonnta collectible
Supplies and materials
Trust equipment
MlsoeUaneoas
Total

{Report for the year ending June SO, 1903. J
An editorial regarding the report will be found on page
The remarks of President Ramsey will be cited in
1196.
another issue. Statistics compiled in the uaaal form for the

Chronicle are

as follows:

190203.

Boad oper. June
EquipmetU —

income bond

30.

1902.

1901.

$

$

67,346,060 67,067,250 66,500,000
339,000
339,000
388,000
68.206
27,328
366,539
11,862,883 7,121,039
31,630
1,265,386
771,109
716,430 6,881,437 1,929,192
3.!)2.696
593,929
631,280
627,068
507,267
1,397,494
804,006
3,619,731 1,657,302
14.294
61,365
44,306
87,160.619 83.741,406 71.301,192

1901-02.
2,483

2,48S

30.

1900-01.

189900.

2.367

2,358

490
396

488
418

434
356

Lbcomotives
437
Passenger equlpm't.
S45
17.171
17,195
16,087
Freight equipment..
13,169
Operations —
5,948,913
5.109,302
4,943,016
Fassen. carried, No.
4,277,735
Pass, carried 1 mlle.380.111,942 322,708.490 264.268,214 233.848.06&
1-791 cts
1-885 ots
1-913 cts.
Kate p. pass. p. m... 1-859 cts.
9,691.514
8,578,«03
8.354,949
Freight (tons) oarrt
8.080,220
Fr'g't(ton8)oar.lm.t *2,198,073 *1,947,404 •1,978,953 •1,902,881
0-604 ots.
0-563 cts.
0*657 ots.
Rateper too per m.. 0'6u6 cts.

302
$1-8297
$0-9684
$8,513
$

Rev.tr'n-load (tons).

Earn, per frt. tr. m.
Earn. per pass.tr. m.
Gross earn, per m..

Eamingi—

285
$1-7195
$0-9140
$7,815
$

6,135,601
13,327,479
Freight
etc...
1,677,851
Mall, express,

5,780,241
11,763,541
1,509,711

21,140,831

19,053,493

Passenger

Total

.

283

269
$1-5005
$0-8514
$0-8403
$7,437
$7,028
$
$
4,982,694
4,474,652
11,158,966 10,616,840

$l'59'i4

1,412,804

1,319,998

17,664,464

16,440,990

Exptnaea—
Malnt. of way, &o...
Malnt. of equipment
Transportation

8,700,962
3,114,664
8,611,278
488,759

General
Total

Owing

2,918,415
2,656,118
7,829.959
442,944

items
cannot be compared.

13,847.436

12.752,045

(74-81)

(72-68)

(72-64)

Net earnings

5,325.167

5,206,057

INCOME account.
190103.

1900-01.

1899-00.

6,325,167
531,4^8

5,206,057
418,155

4,802.419
343,833

4,493,574
339,522

6,856,595

5,624,212

5,146,265

4,833,096

684,703
898.518
852,711

627,930
805,326
814,740

686,199
798,096
700,253

567,327
797.678
458.510

2,415,932
3,440,663
3,034,513

2,247,996
3,376,216
2,964,757

2.082.548
3,063,707
2,760,671

1,833,515
3,009,681
2,589,471

406,160
210,000

411,459
210,000

303.136
310,000

.420,110
210,110

196,150

201.459

93,136

210,000

Three ciphers (000) omitted,

Beyenae freight

only.

1903-03.

Net earnings
Inv'ts, rentals, &e..

Total

Deduct—
Taxes
Tr'k&b'dge rentals.

& misc.

Total
Applicable to Int..
Interest on bonds...

Balance
Dlv. on pf deb. "A".
.

,

BALANCE SHEET JUNE
A.89£t8-~

etc

Construotion account
Supplies and materials

Cash on hand
Stocks and bonds
Accounts collectible
Bills receivable

Advances and miscellaneous
Equipment suspense account
Total
LiabUities—
Common stock
Preferred stock

Bonds
Interest

Vouchers and payrolls
Individuals and railroads
Taxes accrued
H spltal account
Notes payable

Equipment notes
Dividend on debenture bonds
Sale deb. bonds Series "B"
Equipment fund account
Misoellaneons
Credit profit and loss

-V.

(72-67)

4,493,674

t

Boad .equipment,

11,947,416

4.802,419

*

Stirplns.

to change In

olasslfloatlon,

15.815,662

P.o.op.exp. to earns.

Total

$1,677,098

certificates for the fiscal year

Gray's Point Terminal
Oonstrnotlon accounts
Beal estate

Wabash Railroad.

301,320

(7221)

earns

Net earnings
Other Income

1,400,713
6,f52.873

.87.160,619 83,741,408 71,301,193

Total
-V. 77, p. 961,265.

Additions

$
1,013,027
4,594,855
800,401

Total
P.O. of exp. to

208
$0-683
$2-340
$4,696

$2-557
$5,792

—

Total

1899-00
1.258

1223

1908.
1802.
1901.
LiabilUiet—
S
$
$
Preferred stock
20,000,000 20,000,000 20.000.000
stock
Common
16,500.000 16,60J.OOO 16.500. COO
Bonds (see Invbstobs' 8DPPLEM'T).43,-,i05,750 42,393.750 30,339,000
Reserve funds
68,484
522.013 1,360,572
Equipment trust notes
8,519,731 1,73K.438
024,536
Interest on bonds
455,046
417,426
587,727
Sundry accounts payable
1,720,378
700,044
666,104
Mieoellaneous accounts
14.187
13,716
5.660
Credit of income aooonnt
1.677.098 1,458.019
918,693

:

Pass, carried 1 mile. 64.7.59,712
Rate p. pa's. p mile. 2 44 ctB.
Tons freight moved* 2,593,546

Freight
Mail, express, etc..

J

.

:

30.

1903.

1902.

S

$

1901.
jR

-

143,882,500 144,009,500 136,980,500
607,120
1,244,803
1,259,860
816,931
987,035
1,12-*,741
935,860
1,553,020
1,377,530
1,282,331
1,375,986
1,225,670
862,868
53,239
1,152,588
226,199
106,017
683,030
294,616
465,861
150,832,303 149,521,116 142,057,488
28,000,000 38,000,000 28,000,000
24,000,000 24,000,000 24.000,000
91,949,000 92,110,000 85.081,000
883,289
894.053
816,520
3,738,406
2,603,536
2,312,670
466,607
293,850
348,972
386.337
387,109
340,608
4,601
6,183
8,849
23,287
75,000
180,009
292,290
683,030
465.861
105,C 00
105,000
105,000

369 237
311,960
40,872
969,994

113,256
642,421

403,000

.150,832,203 149,521,116 142,057,488

77. p. 951, 825.

Western Union Telegrraph Company.
(Report for the year ended June 30, 1903.
President Robert C. Clowry says in substance:
General Results.—The number of messages transmitted by the
employees of the company was 69,790,866, being 415,983 more than
for the previous year. In addition the leased wires carried probably
the equivalent of 10,000,000 messages. There was an Increase of
$1,094,592 In the revenues for the year. Of this amount the transmission of regular commercial messages contributed $321,760 and

leased wires $282,774, the remainder coming from sundry other
sources. The increase in the operating and general expenses, including
taxes, was $250,698, and for euulpment of ofQoes and wires $81,922.
Reductions of $159,243 In the cost of maintenance and reconstruction
and $828 In rentals of leased lines, made the net Increase in expenses
$172,449. Alter paying $1,868,050 for dividends on the capital stock,
$2,268,721 was added to the surplus account. The average receipts

J

.

THE CHRONICLE.

i'2'24

permeaaage transmitted by the company were 31*4 oents and the
average cost was 2d'6 cents. The cost of oonstrnctlou for the year
wa8«3.3M.645.
CONSTRUCTION. —There were added to the system durlne the year 402
miles of

i>oler>

and 59.228 mtles of wires. 47,000 miles being ot copper.

EcoNOMiKS.— The reorf;»n1zatlon of the service Iihs been completed.
The system of thoron^ih Inspection, Inoludlni; our Atlantic and Cuba
cable terminals bas been ooutiDued, and a further reilnotlon of ex
pesses has been ^lleoted, bringing the total apto $612,00.) per annum.
Contracts —DurlDg the past year contracts covering 3,810 miles
of railroad have been closed with the following-named railroad
oompanlec:
Nevada Central RR. Co.
St. Louis Southwestern Ry. Co.
Manhattan R illway Co.
East Carolina Ry. Ca.
B'klyn HeluhisBR Co. (as lessee.)
Manlton * Pikes Peak Ry. Co.
Brooklyn Uulon Elevated RR.
Bcston & Mtkine RR. Co.
DaritJg the year the securities held charged as follows:
Increase: American District Telegraph Co. of N.J (V. 77, p. 148)
(new) i783.5<.0, and New York Telephone Co. $3,568,800 (from
$6,184,300 to 9,733,100.) Decrease*: (each case entire holding) American District Telegraph of Balt'.more, $33,961; vmerlcan District Telegraph Co. of San Francisco. $100,3^0; Boston District Telegraph Co.,
$18 9,07.'; Rochester District Telegraph Co., $33,250; Syracuse Dietriot
Telegraph Co., $5,000.
SiirTunga, is'fc— The resnlts for three years and the miles
of poles, etc., at varioaa periods were as follows :
KECBIFTS AND DISBCHSEMENTS.
190102.
190001.
1902U3.
$
$
$
29,167,687 28.073,095 26,354,151
fl^venoes for the year
Expennes Operating and general expenses 15,553 337 5 ^*'^||'|^| 13,991,830
1
620,156
1,569,640
1,568!534
Rentals of leased lines'!.'.'.'.'.".'.".'.. 1,567,706
3,270,42.->
8,591,065
Maintenance and reconstruction. 8,131,822
400,350
318,428
316,852
Equipment of olHces and wires...

[Vol. lxxvii.
BALAHCE BHEBT JOXB

Ast(U—
$
Plants* property. 15, 183,711
Adcilf u \ improv..
267,<187
Acoouuta and

bills

receivable

Cash

Work under const.

^

Accounts and

3,885,659

7?,

«11.T00
3,567,311

1,383,S2«
850,000
2,92t?.5«l

1.076,728

Total assets... 83,861,478 20,159.887

-V.

3,772.4''5

Reserve funds
Surplus

esi.o.ss)

7,900,000
7,BOO,000

bills

payivble
3,258,888

1902.

$

Stock, preferred... 7,900,000
Stock, c>Uimon.... 7.000,000

)

?,M5,417
...

190.414
e40,50u

84S,7ai

1903.

UaUHtUs-

^
14,»H3,3fl7

'

Materials on Qan>l.

30.

190:

1908.

Tot. llabilitles..28,851,478 20,159,887

p 951, 351.

GENERAL INVESTMENT NEWS.

I

I

I

BAILB0AD8. INCLUDINf} 8TKEET B0AD8.
Alabama Sc Yicksbarir Ry.— Dzvicfends.—The usual annual

|

19,669,902
6,685,248

20,953,215
8,814,472

20,780,766
7,292,329

1,077,700
4,868,050

992,580

966,160

4,868,031

4,868,008

5,945,750
Total disbursements
2,268,722
Balance of profits
Burp. July 1 (beginning of year). .10,751,003

5,860,611
1.431,718
9,319,285

5,824,168
861,080
8,458,205

13,019,725
Borp. Jane 30 (end of year).
Miles of No. of
MVeso!

10,751,003

9,319,285

Total expenses
Prcflrs

Dithurtemtnls For interest on bonds
For dividends (5 per cent)

Ytar,

j)oUt\- c'clts.

wire.

oiUces.

Rectipts.

Messiges.

Profits

2,565 5,879, Zb2 $8,:>68,925 $2,624,919
233,.'S34 9,077 29.215,509 12,78^,894 6,833.937
769,201 21,078 66,591,858 24,«78,4l3 7,496,037
1S00-01..193.689 972,766 2.^,238 65,657,04* 26,354,150 6,685,248
190103.. 196,115 l,029,y84 23,567 69,374, »83 28,073,095 7,292,329
190203.. 196,517 1,089,212 23,120 69,790,866 29,167,687 8,214,472
-V. 77, p. 953, 630.
18H6-67.. 46,270
187980.. 85,645
1892-93. .189,936

85,291

Colonial Sngars Compaay.
{Report for the 8 months eniingJune 30, 1903. J
On snbeeqnent pages will be found the remarks of President
M. R. Spelman, with the balance sheet and income account.
Briefly summarized, the report shows a profit of about $400,000 for the eight months ending Jane 30, 19u3 (at the rate of
1600,000 for the year). Interest charges for the period on the
bonds outatauding were $73,000, leaving a surplus of |838,000
applicable to dividends on the stock and the equivalent of
over 10 per cent upon the amount of stock oucS'anding. The
company has no floating debt.
The cash valnes of the property, plant and investments of
the company in Cuba and Louisiana amount, it is stated, to
$5,019,854, exceeding the amount at par of the outstanding
stock and bonds together, the amount of the former being
|2,7SO,000 and of the latter $2,150,000, Full details of the
operatiOES and description of the property are given in the
report on pages 1239 to 1241. See bond offering on page 1227.

American Shipbailding Compaay.
(Report for the year ending June 30, 1903.
Prepideni Brown says in substance
:

IMPHOVKMBNTS, ETC.— Material Improvements and renewals have
been made dnrlne the year at a number of plants, and especially so at
West Huperlor. Detroit and Cleveland, in addition to which a number
of dry-docks have been rebuilt andjleugthened, to keep pace with the
larger lake tonnage. These expenditures have largely added to the
value and etiiolency of the plants. It will be noted from the Treasur-

sum

ot $200,000 has been set aside this year for
farther inoprovements of this character when necescary.
PK08P11.CT 8.— Considerable construction was untlnlshud at the end of
the fiscal year. Part of this has been delayed by the oondUiuns that
have surrounded all clast^es of manufacture during the year, and part
was taken for later delivery. The future prospects of the company
look very fair, and a number of negotiations for constnotlon are
pending. It Is, however, not pro'iable there will be as much of this as
for several years past, as a Presidential uampaiKU always aom^iwhat
checks ba»iDe«s on the other hand, the prospect for the general business of the company is eticoaraging ami no rtuubt will bring satlt'tactory reeoltH. Of lare much attention U being called toward the con
strucilon of a larger type of vesfele, and your President looks forward
to a very considerable Increase in this direction. It has been the aim
and stnny of your ctllcers to keep inclose touch with all or the progress and improvements in lake tonnage, and to contribute their part

er's report that the

;

towards It^ encouraeement.
CoNSTRCCTios. -The work done and under construction compares
as fuLowe:
1903.

29
168,000

Veesels built in fiscal year
Carrying capacity, net tons
Vessels under construction end of year...
Carrjlng capacity, net tons

The earnings and balance sheet follow

'19

165,000

1902.
41

198,500
30
139,000

Dlv. 7 p.
Dlv. 3 p.

con
o.

1900-01. C15 mot.)
190102.
1902 03.
..$2,212,840 $2,607,551 $1,998,542 $1,100,666
$553,000 $553,000 $632,000
pref. stock $553,000
,

on common

.

Deprecia'n andmalni'oe.
Reserve for malnteuanoe
Reserve Buffalo mort'ge
Dry-docks, etc
Balance, tnrplaB

228,000
418,626

420.294
200,000
160,000

75, p. 1027,

Atchison Tupeka & Santa Fe Vij.— Proprietary Lines,—
The shareholders of the Qaif Colorado & Santa Fe Railway
Co. will vote Nov, 4 upon a proposition to lease the Gulf
Beaumont & Kanaaa City Railway and the Gulf Beaumont &

Great Northern Railway.
Listed,—The New York Stock Exchange has listed $1,125,000 additional Eastern Oklahoma Division first mortgage 43 of
1928, making the total listed
282 miles of said division, all

27r,B'o"5

.'."-.'"",'

Atlantic City (N. J.)

Bonds,— The former

$640,765 $1,184,267 $1,173,638

$568,666

645,000, covering the entire
inoperation.— V. 77, p. 624,

& Sabarbaa

Traction Co.—

Acttr

$500,000 5 p. c gold bonds have been
issue of $750,000 5 p. c. gold bonds has

and a new
been created for refunding and other purposes under a mortgage recently recorded. Ttie new bonds are dated Aug. 1st,
1903, and due Aug. 1st, 1938, but subject to call after Aug. 1,
1913, at 106; interest payable February and August at the
West Ead Trust Co. of Philadelphia, which company is also
trustee for the mortgage, C. Taylor Leland, 421 Chestnut
called in

Manager.
Atlantic & Nortli Carolina BB.— Lease.- The shareholders will vote Dec. 10 on an off ar from W. W. Mills and H,
St.,

Philadelphia,

is

L. Finlaysonof Rileigh to lease the road, paying, it is said,
as rental 2 per cent on the stock for fifteen years, 3 per cent
for the second fifteen years and 4 per cent for the last twenty
years of the proposed lease. The offer; it is understood, includes the agreement to build a 50-mile extension west from

Goldsboro.

Bath

Sc

Compare V.

77, p. 628.

Hammondgport BR.— S'oW.— Control

of this 10-

mlle road has been sold to the Erie RR. Co.. which has
elected its representatives to the board.
Bay Hhore Termiual Co., Norfolk, Ya.— Receiver.—United
States Juflge Waddill, at Richmond, Oct. 9, appointed
President H. L, Page, Secretary J. A. C. Groner and director
B W. Leigh receivers for the company.— V. 77, p. 951.
Beaver Valley (Pa.) Traction Co.— jKeporf.—The results
for the year ending Sept. 80 were:
Tear—
Qrois. Oper. expenses.
Net.
Charges. Bal., sur.
1902-03
1901-02

-V.

$227,409
177,214

$126,207
96,399

$101,202
80,316

$70,414
62,574

$30,7f8
18,241

76, p. 971.

Boston Sabarban Electric Companie8.—Loan.— The shareholders voted on Oct, 16 to authorize the directors to borrow
$1,500,000 for one year in order to close the option on the
Natick & Cochituate Street Railway and to purchase the
etock of the Newton Street Railway, recently authorized, for
double-tracking between Waltham and Watertown, for new
oars and a new car barn. The "Boston News Bareau" says:
Last March the stockholders aathorized the Issue of 20.000 new
preferred shares at not less than $90 a share and 20,000 common
shares at not less than $40 a share. The vote to-day aathorlzes the
borrowlDK of money until such a time as the mark>-t ooaditions permit
the sale of the new stock. The trustees do not propose to borrow all
of the $1,5(10,000 at once and It is quite prooable less than the full
amoant authorized will be borrowed. The lirst money required will be
to purchase 1,880 new shares of the Newton Street By. Co. at $12,5 a
share.
This will require 1231,2?)0. The principal lines recently
acquired, and for which payment must shortly be made, are the Natlok

Uoohltaaie, the Westboro & Hopklnton and the South Middlesex
Ry. eompanies The report for year ended 8ept. 30, Presldeat
Olatlin states, will show a small surplus after payment of preferred
stock divldend-<. The compaoy's bubiuess has not suffered, it is said,
by the iBaujruration of ihe Boston & Worcester air line There are
31,011 preferred shares and 31,949 common shares oatstanding.—
V. 76, p. 751.

A

Htr<>et

Calgary & Edmonton Ry.— See Canadian Pacific Ry. on
page 1221 also in V, 77, p. e38.— V. 77, p. 509.
Camden & Treutoa (N. J.) Railway.— S<a<u«.— We have
been favored with the following authoritative statement:
The Camden & Trenton Ry Co. and the Pennsylvania RR Oo. came
to a mutual aiireemen: respeotiuK the crossing in the city of Trenton, and the Camden & Trenton cars are now crossing the Pennsylvania RR. tracks and runnlnt; into the city of Trenton. The oonstrnoli )n at the Camden end of the linn Is now almost completed and cars
will run through from the city of Trenton to the Philadelphia Market
Street (Comden) ferries early In November.

The Camden Sb Treuton Railway and the Trenton & New Brunswick
RR. are working in harmony towards a closer aililiatiun. As respects
Is

nothing to be stated just at present.

By arrangement between the Trenton & New Brunswick RR. and

the Public Heryioe Corporation of N^rih Jersey, it is intended t.h it
through cars shall shortly be operated over the tracks of those c 'mpa'iies through from Jersey City to Trentim, with an extension some
time later on of through service to Philadelphia Ferry at Camden. — V.
76, p. 864.

Central of Georgia

372,559

Ijr),

now

631.

hnancial oonsoliiation, there

:

1899 00.

Net earnings

divideod of 6 p. c. and an extra dividend of 3 p. c. was paid
by the company on its common stock Aug. 29th, 1903.— V.

Rj^—New

Directors.— B>obb C. Smith of

Birmingham has been elected a dirtcfor to succeed E. T,
Comer and James A. Blair of New York to fill a vacancy on
the board.— V. 77, p. 348, 847.

—
Oct.

17. 1903.

-

THE CHRONICLE.

J

Central Vermont Uj.—Kt part, —The results for the year
ending Jane 30 were:
Chirgea, B(il.,$Hr.
Other inc.
Ife(.
Tear—
Or»M.

1225
& Pontfpool By.— See Canadian

Lindsay Bobcaygeon

Pacific on page 1221; also in

V. 77, p. 686.
Manitoba
<& Northwestern By.— See Canadian Pacific Ry.
*3.ft62
§660,509
f667.787
1902-03... «3.63«.38a
f 10.840
616.
667.762
3.099 onpige 1221.— V. 73, p.
10.660
660,301
180102
3,406.432
Central
Bnllway.—
—V. 75. p. 1198.
Mexican
C'ircuZar.— The protective
ChlCiiso & Alton Rj. —Improvementa, Etc.— See Union committee, Benj.'imln F. Tracy, Chairman; James Harold
Warner (49 Wall St.), counsel, has issued a circular to the
PaddLj RR. below.— V. 77, p. 950, 349.
bondholders, in the course of which is said:
£"«
income
'•nines.— The reChic go Rofk Island & Pacific By.—
year 1892— eleven years-the company has not paid any
the
Since
(the
old
company
company
this
of
Bults from the opeiaiicn
IntereHt on the said Income bonde; yet darloK thin period \h» weUbt of
whose »»tock is enbstaDtially all owned by the Chicat?o Rook Its rails has been greatly Increased, wooden brldxes have been replaced
Irland «fe Pacific iJii/road Co., and eo by the Rock Island wlthpteel strnctures.the gross weight In Its locomotives has developed
Company) for the fifteen months ending June 80, 1908, have from 9,000.000 pounds to 31,000.000 pounds, and the tonnage
appeared in the pnblio prints, although the report

is

not jet

The figares are as follows:
Gross earnings, «42,752.5>fi; net. f 15,361.576: other Income, $2.
OOti 965; total net inoome, $17,868,541; (ledaot Interest, rentals anil
taxes, *S,672,723; dividends (fi5,6>i0.540. less $374,983 puld from
Improvement loan aooonnt), $5,306,557; balance, eurp $3,890,261The balance eheet shows current assets (Including $14,600,086 cash), §34,505,756; current liabilities, |7,986,3a7; capital
stock, $74,817,100; funded debt, $95,176,000; also, among liabilities, collateral trust notes of D R. Francis and John
Scnllin, iesued on account of construction of 8r. Lonis-Eansas-City line, road not yet completed, $4,500,COO; contingent
account, $5,171,783, etc.— V. 77, p. 950, 298.
ieeued.

,

Cincinnati Hamilton & Dayton RB.— iVeio Director—
Lecue -Eaminga. &.t the annual meeting on Wednesday
Senator Joseph B. Foraker was elected a director to succeed
the late R. C. Scnenck. The lease of the Cincinnati Findlay
& Fort Wayne also was ratified.
Report.— The results for the year ending Jane 30 compare

—

as follows:

—V.

Charges.

Div.onpref.

$l,240,ft87

$-189,229

1,235,701

389,225

2,204,059

Bal.,tur
£$771,922
589,138

77, p. 768, 694.

Dakota Facillc RB.— SoM—A press dispitch from Rapid
8 D., on Ojt. 2, announoed the sale of this company's
property to C. D. Crouch of Akron, O., the heaviest
creditor, and at one time the contractor for building the line.
The company was formerly known as the Dakota Wyoming
& Missouri River RR., construction on which from Mystic,
Wyo., to Rapid City, 321^ miles, was begun in 1891. About
80 p. c. of the grading was done and 10 miles of track laid;
some 1400,000, it is said, has been expended. On Jan. 31,
1903, Jacob S. Qantz of Rapid City, S. D., was appointed receiver on application of Geo. F. Snyder of Rapid City, S. D.,
as trustee for the owners of mechanics' liens and claims
against the old company. The Dakota Pacific in 1899 made a

City,

mortgage to the International Trust Co. of Boston, as trustee,
The
to secure $650,000 bonds, all of which are outstanding.
recent sale was made outside the provisions of this trust
deed, no steps having been taken by the trustee to foreclose.

—V,

69, p. 26,

Dakota Wyomiog & Missoarl Biver RB.— So^d.— See
Dakota Pacific RR. above,
Detroit Southern RB. New Trackage Agreement.— h.n
agreement has been made with the Michigan Central for
trackage and depot rights at Detroit, affording better connections at somewhat less cost than the contract with the
Pere Marquette, which it is stated called for an outlay of
about $40,000 annually.— V. 77, p. 198.
Erie RE.— PurcTicwe.— See Bath & Himmondsport RR.
above.- V. 77, p. 954, 946
Greenfield & Tamers Falls (HasEi.) Street By.- Bond*.—
Agreeably with the consent of the State Railroad Commission, the company has made a consolidated mortgage to the
Beacon Trust Co. of Boston, as trustee, to secure $130,000 of
5 p. c. gold bonds due Jane 1, 1933, with a sinking fund
providing for retirement of $2,000 bonds yearly; $86,000 of
the new bonds are reserved to retire a like amount of first 5a
due in 1916, and $44,000 will shortly be issued, reducing the
floating debt to about $10,000.
Gulf Beanmont & Kansas City By.— Lease.—See Atchison
Topeka & Santa Fe Ry. above.- V. 71, p. 286.
Hocking Valley Ry.— Participation Certificates.— Redmond, Kerr & Co. are offering at par and interest "Hocking
Valley Participation Certificates" issued by J. P. Morgan &
Co., dated June 28, 1908, and due June 28, 1906, with interest
at 5 per cent per annum, payable in June and December.
The total issue i s $7,270,410 it is secured by deposit of
$5,924,200 of the $11,000,OCO common stock of the Hocking
Valley Ry. Co. The participation certificates are guaranteed
as follows:
One-third by Pittsburgh Clnoinnatl Chlcasro & St. Loals Ry. Co.
One-Blxth by Lake Shore & Mlohlean Soaihern Ry. Co.
One sixth by Baltimore Ohio RR. Co.
One sixth by Chesapeake & Ohio Ry. Co.
One sixth by Erie RR. Co.
These companies are severally responsible for their share
of the obligation, but in case of default any other company
or companies may acquire the share of the company in dtfault.— V. 77, p. 777, 764,
Illinois Central RE.— Listed.— The New York Stock Exchange das listed $3,000,000 8«^ per cant extended first mortgage bonds of 1951.— V. 77, p. 838, 820.
Kansas City Southern Rj.—Imjj'ovemeats, .Eic— See Union
Paciflo RR. below.— V. 76, p. 98, i08.
KnoxTllIe & Ohio BB.—See Southern By. below.— V. 77,
;

<fc

p. 451, 349.

income bondhalders.
All income bondholders are requested to deposit their bondsunder the committee's agreement with the Continental Trust
Co., No. 26 Broad St., New York; or with the American
Loan & Trust Co., No. 63 State St., Boston, on or before Jan.

1901.— V. 77, p. 951, 834.
Mobile Jackson & Kansas City BR,— Listed.-The New
York Stock Exchange has listed the $1,832,000 first consolidated mortgage 5 per cent coupon bonds of 1953.—See V. 77,
1,

Net.
Qrott.
Tear—
IJ 0203. .•7.997,223 $8,401,688

190102.. 7,094,717

capacity ot Its freight cars has more than trebleil.
In the last
e'ght years 642 mU«8 of the road were ballasted with broken rook
and volcanic cinder; more than $^,000,000 was expended in englneerInR. rlghts-ot-way, buildings. 8tatlonn. etc., and thoqneotlon which Interests the bondholders Is, how much of this was paid from net earnings ^hloh should have been uiedlnparttopay Interest on the income
bonds.
Thlscomniltteebolleves that the income bondholder is entitled to an
accounting with the ompany; Is entitled to know exactly how far the
road can go In expending Us money for "neoessarj" betterments and
additions; whether or not the directors of the road are properly husbanding the property In the Interests of all concerned, and not for the
stockholders alone. The road has Increased Us annual earnlngH since
1892 from $8,000,000 to $2 l,00a,00'; yet In all this time no Interest has
been paid upon the Income bonds. This committee believes also that It
Is Improper. If not Illegal, for the railway company to Issue debenture
certlfloates, the Interest on which will create a hxed charge which
must be paid from the Income, to the great detriment of the present

p. 822.

Mt. Carmel & Natalie BR.— At auction Oit. 3 Adrian
H. Muller& Co. sold $350,000 of this company's stock fr>r $1C0>
for the lot, and $55,000 first mortgage gold 58 due 19 16, with
coupons of December, 1899, attacded, at 10 p. c. At the same
time $150,000 common stock of the Shamokin Coal Co. was
sold for $12 and $100,000 preferred stock for $25, in each
case for the entire block. The Shamokin Coal Co. has been
operating the colliery of the Natalie Anthracite Coal Co. (V.
75, p, 1357).

National BB. of Mexico.— DefaiZs of Government Purchase -Estimated Ear ninga.— The "Mexican Herald" of Sept.
28 and following dates contains the full report to the President of Mexico by Finance Minister Limantour regarding
his purchase of a virtually controlling interest in this company per plan in the Chronicle, V, 76, p. 1193.
He says that the control of the Interoceanic Railway was
acquired by the Government through the purchase at auction
of £1,000,000 {i}4 P- C') second debentures (carrying the right
to 500,000 votes), at 90^ p. c, being £901,250, aod that in the
subsequent purchase through Speyer
Co. of the interest
in National RR, of Mexico, these debentures were turned
over to that company as equivalent to $4,500,000 gold, or

&

£935,935.

&

The plan of Speyer
Co. for converting the common
shares into second preference and deferred shares, in the
proportion of two-thirds and one-third, respectively, has
been so far sucoessful that the Minister is able to report
$31,886,400 of the issue of $33,350,000 converted, with the
probability that the entire issue will come in. The Government contracted to purchase not less than 40 per cent of the
company's entire outstanding capital stock for $9,000,000; as
a matter of fact 47K p. c. thereof was acquired for that
amount, as follows:
fa-change.

>^0,063,625 1st preferred
,

Common
Total

...

33,350,000

33,350,000

$66,350,000

$63,413,625

Mex. GodH

After

Glass
Total
Total
authorized
issued
of stock.
1st preferred... ...132,000,000 §30,063.625
I
(

2l,2:i7,t)00

2d perferred

10,«2S.800 deferred
1,463,B00 com. uneich.

$63,413,625

acquired.
$10,000,000
9,343,900
10.628,800

$29,672,700

Figuring the preferred shares at 47^, the second preferred
shares at 32'12i,^ p, c. and the deferred at 10 p. c, it is calculated that the virtual control of the road was acquired,
through Speyer & Co.'s wise handling, for a sum equal to
only
p. c. in excess of the market value of the shares, and
for a sum §878 635 less than would have been poseible without the conversion plan, even supposing the necessary purchases in the open market should not artificially raise the

%

prices of the shares

Minister Lim>intour makes an interesting estimate of tbe^
prospect for dividends. In return for the 20-year agreement
that a strip of territory i\^ miles, and bordering the Rio
Grande River from the coast inland about 500 miles, shall be
closed to new parallel lines, which are thus shut out of
reaching the United States (compare V. 76, p. 1192), the
company agrees to complete by Jan. 1, 1907, a line from
Monterey to Matamoras, whereof about 140 miles remains to
be built.
Allowing (1) that $250,000 will be the gross earnings from
this new line in 1905 (the line, it appears, is expected to be
constructed in 1904); (2) that $1,000,000 of grosa earnings will
be derived in 1904 from the new El Salto line; (3) that the
annual increase of 10 per cent in gross receipts shown by
the company with the exception of only one year since 1892
will be continued; (4) that the operating expenses will not
exceed 65 p. c, of the gross earnings; (5) that the resulting

—

—

THE CHRONICLE.

i2:'6

receipts ia Mexican money will be exchangeable for 50 per
cent of their face value into American gold, and (6) that the
earninga from "other eecuritiea'' will continue at $179,980
(gold) and the bond interest at $1,780,000, making the net
charges |1, 600,040, the results, he calculates, will be as
follows:
Cal.

^—MtTiean

:

curreney.
Net.

.

U

S.evrr'cv,

AX

[Vol. Lxxvn.

provements and new equipment in connection witn the
Union Pacific, Southern Pacific, Chicago & Alton and Kansas
City Southern systems
THREE TBABB' BXTRAOHDINABT KXPBNDITURBB ON THE LINBB
CONTSULLBD BT B. H. HABRIHAN.

Name of
companjf

Applicable

Sundry

Ohange$

ATew

betterments.
$8,89H.5f>9

of line.
$8,690,070

equipment.

Total

of all.
8i8,75o,880 $26,369,009
3,985.049
8,272,132
813,579
4,582,282

G'oss.
to stock
Union Paolflo
1/ear.
Ket eim'g$.
charvei.
1903 ....910.g3».145 $8,828,700 $1,914,350 $1,600,040 $314,310 Oregon S. L.
4,287,083
13,033.060
1904
4,561.571
1,600.040 680,745 Oregon K. AN....
2.280,785
2,326,698
1,442,006
14.586,366
1903
5,105.228
1,600,040 952,674
2,552.614
16,04S,002
1,600,040 1.207,835
1906
8,615,750
2.607.875
U. P. system. ..$16,512,340 $10,132,076 $13,679,008 $39,233,423
1907
17,649,502
1,600,040 1.488,623 Southern Paolflo.. 20,462,218
6,177,326
3.088,663
22,618,135
42.980,358
Ogden&Laolen
4,400,162
4,400,162
"It is not," he says, "too much to aflflrm that, beginning
with the coming year of 1904, the National Railway will yield
U. P.& 8.P.8ya.$35,974,658 $14,532,287 $36,097,143 $86,603,938
at least enongh to pay a dividend of 2 per cent to the pre- Chicago & Alton..
7,497,101
6,446,228
12,943,329
1,657,174
4,801,102
ferred shares; 3 per cent in 1905 and finally in 1908 the full Kan. Olty Boath'n. 3,143,928
dividend of 4 per cent or nearly. In 1907 tha second preferTotal all lines. .$46,6 16,587 $14,632,227 $43,200,645 $104,348,369
ence ehtires will come in for a proportion of the profits and
Touching the above, Mr. Stubbs says:
probably, beginning with that very year, it will be possible
The aggregate expenditure of all the oompanles (over $100,000,000)
to assign them 1 per cent."
will be greatly Increased by appropriations for work now under way;
Of course such estimates are open to very serious modifi- It 1b more than the total estimated cost for the completion of the
Panama Canal.
cation from various coDtingenoies.— V. 77, pp. 769, 628.
Despite tbe fact that over $43,000,000 has been spent in the past
New England RR.—Lecues. The share holders will vote three years for new locomotives
and oars, the volume of trafflo to-day
is
treater than the faoilities of the Harriman lines for handling it.
Woonsocket
O.^t. 22 on ratifying the leases of the Milford
This
is
especially
true of the Southern Paolflo. The Union Paoltlo is
RR. and Milford Franklin & Providence RR.—V. 69, p. 1012.
perhaps in the best shape, so far as equipment is conoerned, bat it has
Coupons.—
no
sarolus
Pennsylraiila
Traction
of
cars
&
Co.—
or engines.
New Jersey
Trafflo and operating otflolals of the Harriman system have been
A block of $100,000 of the first mortgage 4s of 1932 were conferring
recently as to methods to be employed
get the best rerecently advertised for sale at auction with coupons of May, sults possible. Having spent so many millions to
In reducing grades
1903, attached, but we are Informed that there has been no and curves for engines of increased power and cars of large capacity,
Mr. Harriman expects the trattic and operating officials to pull todefault in interest.— V. 75, p, 185.
f;ether, properly sort the traffic, and have it moved so far as possible

—

&

Pine Blufif & Western Rj.— Reorganization.—The com- n full cars both ways, as well as in full train-loads. A standard has
pany is being reorganized as the Pine Bluff & Western Rail- been adopted for all equipment to be used by the Harriman lines,
there may be no trouble or delay in the interchange of oars with
road and the new organization will shortly take posaeesion, that
through traffic.
possibly within 30 days. The $1,200,000 6 per cent bonds due
I see no signs of a decrease in the volume of trafflo. MeroantUe, manOct. 1, 1922, are not outstanding, and are under process of nfaoturing and agricultural interests are eujoylng a high degree of
cancellation. It is uncertain whether any other bonds will prosperity, which seems certain to continue,
New Director. Joseph F. Smith, President of the Mormon
be issued. The new company was incorporated in Arkansas
in September last with $1,200,000 of authorized capital Churcb, has been elected resident director, at Salt Lake City,
stock, of which $600,000 will be issued to the present owners. to succeed T, Jefferson Coolidge Jr., of Boston.—V. 77, p.
i

—

W. W.

Cargill of

La

Crosse, Wis.,

is

President.—V.

75, p.

825, 296.

Wabash RR.

1308.

Beading Company.— Firat Dividend on Sd Preferred.— on
The company on Thursday; declared a dividend of IJ^ per 000
cent on its second preferred stock, payable Nov, 10, to stock
of record Oct. 23. This is the first declaration on this issue.
The directors also provided for the payment of a 2 per
cent dividend on the first preferred stock, payable March 10,
1904, making a full 4 per cent dividend for the fiscal year
ended June 30, 1903. The report for the year ending June
30, 1908 (in V. 77. p. 836), shows a surplus from the year's
operations of $5,197,783 (against $3,878,826 in 1901-02); the
sinking fund (see balance sheet, p. 835), called for $246 774; 4
p, c. per annum on the first preferred requires $1,120,000 and
now IJ^ p. c. on the $42,000,000 second preferred takes $680,000. making surplus balance $3,201,009
Listed in Philadelphia.— T He $1,295,000 Wilmington
Northern RR. 4 p. c. gold stock trust certificates have been
listed on the Philadelphia Stock Exchange.— V, 77, p. 832,

&

819.

San Bernardino Valley Traction Co., California.— Mo^^
gage.— A mortgage has been made to the Los Angeles Trust
Co., as trustee, to secure $1,000,000 of sinking fund 5 p c. gold
bonds, dated Sept. 1, 1903, and due Sept. 1, 1933, btn subject
outstanding, $520,000.
There remain out "a very few Redland Street Ry. and San
Bernardino Valley Traction Co. 5 p. c. bonds," to retire
which as soon as possible sufficient of the new bonds are reserved. The authorized capital stock is $1,500,000; outstanding, $1,080,000, par of shares $100.
The company owns 82
miles of line between San Bernardino, Redlands, Colton and
Highlands, Cal. For the two months ending Aug. 81, 1903,
the gross earnings were $16,831; net, $7,880; taxes, interest,
etc., $3,743; balance, surplus, $4,137.
President, Henry
Fisher; Vice-Pres. and General Manager, A. C. Denman.
V. 76, p. 1409.
to call after Sept.

1,

1908,

at 105;

—

Soothern Faclflc Co.—Improvementa, Etc. See Union
RR. below.— V. 77, p. 951, 825.
SoQtliern Pacific RE. of California— Za«fed.—The New
York Stock Exchange has listed $1,126,000 additional first
consolidated mortgage guaranteed 5 per cent "stamped"
bonds of 1937, making the amount listed $21,546,000.
Naming*.— Results for the 6 months ending June 80, 1908,
Pacific

Gross transportation earnings, $15,827,221; other Income, $474,279; total earnings, $15,801,500; net earnings,
$8,213,168; fixed charges and taxes, $3,808,935; balance, surplus, $2,404,238,—V, 74, p. 269.
were:

Sootliern Railway.— Ifergfer.—The shareholders voted at
the annual meeting on Oct. 13 to ratify the proposed merger
into the Southern Ry. Co, of the Knoxville
Ohio, the
Knoxville & Bristol and the Villa Rica branch roads. The
stockholders of the Knoxville & Ohio) RR. on 0>jt. 7 ratified
the; purchase of the Tennessee Northern Ry., 10 miles in
length, and also the proposition to create a first consolidated
mortgage to secure $3,000,000 of 50 year bonds. These bonds,
so far as issued, will all be held in the treasury of the South-

&

Co.— V, 77, p. 770, 698.
Union Pacific RVi.—Improvements, Etc.— J. C. Stubbs
Traffic Director of the " Harriman lines," has made public
ern Ry.

the following official tabulation, showing that over $104,000,000 has been expended during the past three years for im-

Bonds Authorized.— At the annual meeting
an issue of $10,000,was duly approved.

Oct. 18 the proposition to authorize
of bonds for terminal improvements
See particulars in V. 76, p. 752,

jReport.—See page

.—V.

77, p. 951, 825.

Warren & Corsicana Pacific— Jfade Standard Gauge. —
This road, extending from Warren to one mile beyond Campwood, Tex., 19 miles, was changed to standard gauge late in
September.— V. 73, p. 1209,
Worcester & Soathbridge St. Ry.— P/an.— A committee
consisting of George W. Wells, Fred. Thayer, Calvin D.
Paige, Samuel H. Colton and Edward L. Parker, with Herbert Parker and Choate & Hall (56 Sears Building, Boston),
as counsel, present the following plan of reorganization:
(I). Tt la not advisable to do anything with Overlook.
(2) ItiB
deemed wise to purchase Plnehurst at not exceeding $24,000. (3)
The net unsecured flofttlng debt of the Worcester & Southbrldge is
$930,000, and of the Worcester & Rochdale, $51,000,
It is proposed to unite uoder a single management the Worcester A
Southbrldge, the Worcester and Rochdale railways, the Plnt^hurst
property, and the Southbrldge & Sturbridge Street Kailway Co., which
now has a capital stock of ,$60,000. bonds $60,000, and floating debt
of $26,000, these railways forming a continuous llae of about 30
miles, and extending sut)8t*ntlally from the City Hall in Worcester to
FlBkdale mills In Southbrldite. To do this will require about $131-,
000, as follows: To complete Worcester & Rjohdaie, $30,000; to pay
debts of Rochdale road. $51,000; to pay floating debt of Southbrldge
A Sturbridge road, $26,000; to purchase Plnehurst, $24,000.
To accomplish this it la proposed to form a securities company with
a capital st )ck of, say, $S50,000, of which say $250,000 shall be 4 p. o.
non-camulailveno voting-power preferred stock, which shall be preferred as to dividends and division of assets up to par. The balance,
$600,000, shall be common stock. Of this latter stock $40,000 will be
given to stockholders of the Rochdale Road at par in exchange for the
stock of that road; $100,000 stock will be given to the stockholders of
the Worcester <te Southbrldge Road in exchange for $500,000 stock,
thereby reducing the company's stock by 1,000 shares; $60,000 stock
will be given to stockholders of the Southbrldge <& Sturbridge at par
in exchauKC for the stock of that company; i,000 shares ($100,000),
which have already been underwritten, will be Issued for cash. The
remainder of the $131,000 cash required, as above stated, will be provided from sale of rails, aooonnts payable and oai<h on hand. The
securities company will hold a majority of the stock of the three companies subject to the underlying bonds aggregating $900,00o, viz.:
Worcester & Southbrldge, $500,000 4128; Southbrldge & Sturbridge,
$60,000 68; Worcester & Rochdale, $40,000 4»s8.
A Joint note of the three railway oompanles to an amount equal to
the OQtstiindlng debts of the Worcester & Southbrldge Street Railway
Co. will be given t<) the securities company, aud the latter will issue
20-year first mortgage collateral bonds (sunjeot to call) to an amount
equal to 76 p. c. of aald notes; said bonds to bear Int^^rest at the rate
of 3 p. o. for the first two years. 4 p. o. for the next two years and 8
p. o. thereafter. Said bonds will be secured by deposit of the note of
the three railway companies, as above specified, together with a controlling intereet'ln the Htock ot the three railway companies and the
Plnehurst property. It is proposed to exchange the outstanding indebtedness of the Worcester & Southbrldge for these collateral bonds
to an amount equal to 75 p. c. of the face value of such debts, and 26
p. c. par value in the new preferred stock.
The gross earnings per year of the Worcester & Southbrldge Road
are placed at $120,000; of the Southbrldge <te Sturbridge at $44,000;
total, $164,000; estimated net earnings, $60,630; other income (Pmohuret, etc.), $3,000; deduct Interest on underlying bonds, $27,300;
surplus applicabie to interest on the collateral bondj and pref. stock,
$3b,380. The interest requirements on the collateral bon is for the
first Ave years would not exceed $22,500 a year, leaving $13,880 surplus for the preferred stock. In the above no account has been taken,
of prospective freight and expreea business, whioh the company ia
now authorized to transact.
Press reports say that the endorsements on nearly $500,000
Southbrldge ihave, it is beof the notes of the Worcester
lieved, been proved to be forgeries.
Compare also V. 77, p. 770, 512.
i

&

Oct.

THE CHRONICLE.

17, 1903.1

INDUSTRIAL. 6A8 AND M18CELLANEUU8.
Amalgamated Topper Co.— Regular Divi tends, Etc.— The
directors ou Thursday declared the usual quarterly dividend
of one-half of 1 per cent, payable Nov. 30.
The Anaconda Copper Mining Co. (oontroUed) has declared a aemtannuftl dlvldeuil of 50 eents a share (2 p c), payable Nov. 16. beln«
the »»iue rate aa paid reKQlarly on Its 830,0ao,000 stock stnoe and InClndlnK May, 1902 The dliect*ire of the Boston & Montana Co. have
declared the regular quarterly dividend of $2 per share (3 p. c.) upon
which Is owned by the .^malIts $3 750,000 stock, praotloiilly all of
It Is aoserted, however, nnotltclally that the latter's Income
ffiioiated
railroads, timber, stores, banks, water companies, newspapers,
from
I

when the properties are all In operation. Is euffloleut to pay the
Amalgamated dividends.— V. 77, p. 512, 252.
American District Telegrapli Co. of New Jersey.— See
report o? Western Union Telegraph Co. on page 1333.— V. 77,
etc

p. 148.

American Clay Working: Machinery Co.— Readfuftment.—
C. Penfield, vf ho was back of this company and

Raymond

corporation, disappeared on Sept. 2, leaving the
companies with their affairs considerably mixed and with
debts to banks of approximately $1,500,000, and to other
creditors for merchandise and material about |180,000, beThis laat
sides bond and mortgage indebtedness of $865,000.
item includes f 500,000 bonds of the Mexican Clay Mannfaotnring Co., secured by mortgage to the Cleveland Trust Co.
as trustee. Receivers were appointed for the several comSanies by the United States Circuit Courts for the Southern
istrict of New York, the District of New Jersey and the
Northern District of Ohio.
A orfditors' committee consisting of Frederick B, Schenck,
Chairman, David R. Forgan, J. F, Harper, Allen S. Apgar,
Wm, H. Porter, Albert H. Wiggin, Granville W. Garth,
with C. P. Mertens, Secretary, 170 Broadway, requests deposits ol bonds, notes, claims, etc., of the various companies
with the Bankers' Trust Co., No. 7 Wall St. on or before
Nov. 3. The committee will prepare a plan of readjustment
and liquidation and depositors dissenting therefrom will be
allowed to withdraw. The following gives a number of
facts regarding the companies:
its allied

,

In-

stock

Corp.

Autlt,

•American Clay Working
Ohio
Mach'y Co

(?)

Stock

owncdby

R,C. Pennfleld.

Plant at

WUIouKhby

and

Bucyrus, O.
South River, N.J
Co. N. J. ll.OCO.OOO < J^ by Am. Clay >
do.
do.
National Clay -Mfn. Co.... N. J. 1,000,000 <_Wrk.Mach.Co. J
City of Mexico.
•MexicAQ Clay MfB. Co.... N. J. liOOO.OOO R.C. Pennfleld.
Sell.
Agency
only.
Nat.Clay.MfK.Co.
25,000
N.Y.
VitrifledCoDduitCo.
Stand

Great Easfn Clay MfR.

Manhattan Brick & Terra
N.Y.
Cotta Co
Brooklyn Brick i Sewer
N.Y.
Pipe Co
Standard KlreprooflnK Co. N.

J.

Ohio
•New York Blower Co
J. W. Penfleld A Son and
Raymond C. Penfleld

50,000 8t.Flre Proof .Co.

26.ono
do.
do.
300.000 R. C. Pennfleld.
do.
(?)
do.

do.

do.

do.

do.

Perth Amboy.N J.
Bucyrus, O.

WUloughby, O.

1227

Cedar Rapids (Is.) Water Co.— Bonds. Etc.— Under the
agreement of April 11, 1903, Ihe City of Cedar Rapids baa
purohaeed this company's plant for |2»,000, subject to the
bonded debt, aggregating $450,000, the validity of which the
city contracts not to questloa, but which it purposes to call
and pay off as soon as possible. The bonds include:
First mortgage 5 per cent bonds, 1897, due Nov. 1, 1927, bat
subject to call at 105 on Nov. 1, 1007, $150,000, Interest payable
May 1 and November i; second mortgage 4>9 per cent bonds,
dated April 9, 1903, of which $35,000 series A ($1,000 each),
dae April 1, 1804, and $265,000 series B ($500 each), due on
Julyl, 1919, but $20,000 thereof to be drawn by lot annually from
1905 to 1917, both inclusive, and paid off as provldtd in the mortgage, and any or all to bo subject to call at par on any Jan. 1 or Jnly
1 priori© 1918. Interest payable Jan. 1 and July 1.— V. 76, p. 1033.

City & Hnbarban Telegraph Asaociation (Bell Tele>
Tfhone.)- Change of Name.— The shareholders will vote Nov.
13 to change the corporate name of the company to the Cincinnati & Suburban Telephone Go.
New Stock.— The shareholders have the privilege of subscribing pro rata to $242,550 new stock, increasing the
amount outstanding to $3,880,800, to provide for extensions
and additions. Subscriptions must be paid in cash before
Nov. 5.— V, 75, p. 796.
Clairton Steel Co.— Deal Off— New Arrangement.— See
Crucible Steel Co. below.— V. 77, p. 149,
Co.
Colonial Sagars Co.— Boncfs Offered.— E.. W. Poor
are offering at 101 and interest a limited amonnt of this company's first mortgage 5 percent gold bonds.dated July 1, 1902;
denomination, $1,000; principal due April 1, 1952; interest
payable April 1 and Oct. 1. The total authorized issue is
$3,000,000, of which $3,150,000 are outstanding, the additional
$850,000 remaining in the treasury. Trustee of mortgage.
Central Trust Co. of New York. The coupons are paid at
the office of H. W. Poor & Co., 18 Wall St.
As fully shown in the annual report on another page, the
company was organized in 1903 under the laws of New Jersey,
and owns sugar estates in Cuba and in Louisiana, together
with a thoroughly modern sugar refinery at Qramercy, La.,
on the Mississippi River, 40 miles above New Orleans. This
refinery is now in operation, and is stated to be capable of
turning out 1,200 barrels per day of high-grade standard refined sugar. It is supplied with raw sugars made from cane
raised and crushed on the company's plantations. in Cuba and
Louisiana, now furnishing 60 per cent of the maximum
capacity of the refinery, and which, when fully cultivated,
will furnish an amount sufficient for its full continuous operation for the entire year. The company occupies the unique
position of raising its own cane, producing its own raw sugars
and refining them into standard high-grade sugar in its own
refinery.
Thus all middlemen's profits are saved. See pages
1839 to 1241.

&

Consolidated Lake Superior Co.—Sa/e.— Speyer & Co.
have adjourned their sale of the company's securities until
Balanced LocomotiTe A Engiaeerlngr Co.— Judgment.— Oct. 30, and negotiations are pending for a further adjournJudgment for $21,768 was taken by default on Wednesday in ment of sixty days. The old Moffly committee, consisting of
favor of the Market Street National Bank. The company John W. Mofflv, Simon Gratz, William Arrortt, Charles W.
was incorporated in 1894 with a capital stock of $1,000,000. Henry and Samuel F. Houston is preparing a plan whioh,
according to reports, is closely similar to that recently proHenry Warden is President, No. 35 Broadway.
posed (V. 77,D. 825).
Bethlehem Steel Co.— SoZe Owner of Juragua Iron Co.—
Representatives of the Vickers-Maxim and the Armstrongs
Steel
Co.
The partnerehip existing between the Bethlehem
are said to have returned to England to report upon the
and the Pennsylvania Steel Co. in the Juragua Iron Co. property. Senator Dandurand of Montreal having undertaken
owning mines near Santiago, Cuba, expired by limitation, and to negotiate a sale to English interests.— "V. 77, p. 952, 825.
in order to close up the affairs of the Juragua Iron Co. the
Crncible Steel Co.— Deal Off—New Plan— Dividend.— The
property was offered at public sale and was purchased by the
Bethlehem Steel Co. for 1625,250. TheJPennsylvania Steel Co. following announcement was made on Wednesday by iPresi-V. 75, dent Frank B, Smith
no longer has any interest in the Juragua Iron Co.
By reason of the failure of consummation of the sale of the Olalrton
896.
p.
Steel Co. property, under the contract which had been executed beBonds.— Arrangements have tween the Crncible Steel and United States Steel Corporation, and
Boston Steamship Co.
been made in connection with the Northern Pacific and which the offloers of the Crucible Steel Co. had every reason to believe
up to the last moment would be carried out. It became necessary to
Great Northern Railway companies to establish a steamship obtain addlilonal funds as working
capital for the purpose of operatline from Puget Sound to the Orient and Manila, on the ing the Clairton plant and taking care of Itslindebtedness. At a meetcompletion of the steamships Shawmut and Tremont. To ing of parties interested, sufflolent subscriotlons have been obtained to
this purpose.
meet expenses in connection with the new service, and to effect
It has also been considered advisable to effect a reorganization of
provide working capital, Kidder, Peabody & Co. have the offloers of the company, aud It has been arranged to have William
agreed to take and will offer to the stockholders $500,000 of G. Park become Chairman [of the Crucible Steel Co.] in full control, so

•Cleveland Trust Co., receiver; the Continental Trust Co. of New York Is the
receiver of all the other companies, with J. .Kearny Rice as joint receiver In
New Jersey for Great Kastern and National.

:

—

year 6 p. c. debentures, subject to call at 105.
.Report.— The report for the year ending Aug. 1, 1903, shows:
Balance Sheet— Liabilities outstanding, $755,000 each of preferred
and common stock; 8650,000 first mortgage Ss; notes payable,
10-

sinking fund, $16,668; total,
liabilities, «9, 834
Oflfsets: steamships (Insured for $1,750,000) and oon*2,456,502.
sinking fund,
traots, $2,245,028; current assets, etc., $136,409;
$16,666 profit and loss surplas, $58,399 total, $2,456.502.— V. 76,
p. 843.

$270,000; current

;

;

;

Bash Terminal Co., New York.— President Irving T. Bush
has favored us with the following:
The first sixteen months were spent In the oonstruotion of the first
part of the plant. Two riers were completed, leased and taken possession of by the tenants on Aug. 1. These piers are leased to responsible tenants on a basis to produce an income of $120,000 per
year, exclusive of wharfage on barges and lighters, which should
amonnt to $10,000 additional. This Is a fixed Income, and In addition
this rent Is guaranteed by The Bush Co , Ltd., having last year a net
Income of more than $140,000. There wlU be besides a large income
from warehouse earnings and the operation of the railroad terminals,
and the third pier will be completed about Jan. 1,1904. The first

year will probably be made to end Aug. 1, 1904. O. J. Lawrence
Vice-President, B. Qotild Slmonds, Treasorer, and Frank Gallagher,
Secretary.
fiscal

Is

Illustrated articles describing the property will be found
in the "Railway and Engineering Review" of Chicago (issue
of Aug. 15, 1903); the "American Syren and Shipping" of this
city (issue of July 11) and the "Brooklyn Citizen" of July 19.
See also V. 76, p. 1033.

that the reorganization will show the following olHoers William G.
I'ark, Chairman; Frank B. Smith. President and General Manager,
Reuben Miller, :First Vice-President; Herbert Da Puy, Second VicePresident; Robert E. Jennings, Third Vice-President; Julius Bleler;
Treasurer, and Alexander Thomas, Secretary. Executive Committee;
W. G. Park, W. P. Snyder, Kenben Miller, James H. Park, Herbert Du
Puy. A. W. Mellon and FranK B. Smith.
It is probable that the larger operations of the Olalrton Steel Co.
may require the Crucible Steel Co. to discontinue the dividends on the
preferred stocfe. If this proves to be so, the directors will not hesitate
to suspend dividends while this necessity exists.
:

The "Pittsburgh Gazette" says that the

aforesaid subscrip-

tions amount to a little more than $2,000,000, and came entirely from interests identified with the company.
The
amount raised will, it is believed, furnish the capital needed
for the operation of the Clairton plant and for taking care
of its floating debt. The "Gazette" says that if more funds

are required it is believed that they can be had from sources
equally identified with the company.
The change in officers brings William G. Park, the wellknown steel expert, and also Reuoen Miller back into office*
The proposed sale of the Clairton Co., with its three blast
furnaces, twelve new open-hearth furnaces at Clairton, Pa.,
its ore properties, etc., was announced last July (V. 77 p. 149),
the price being $8,000,0C0 over the $10,250,000 bonds guaranteed by the Crucible Steel Co. one-half interest to go to the
Steel Corporation, one-fourth to the Olivers and W. P. Snyder, and one- fourth to the Crucible Steel Co., the last paying
;

—

THE CHRONICLE.

1-228

nine 50-ton furnaces, Is turning out nearly 1,000 tons of open hearth
blooms, billets and slabs per day. Some splendid records for production have recently b:>en made In this plant. The large plate mill tarns
our plates from (i^s to 26 Inches wide and as long as 150 feet.
The company owns extensive coking coal properties located in Randolph County, W. Va., and in Fayette County, Pa. At the latter property It has just completed 200 coke ovens and is now drawing Its supply of coke from that source. This property Is so located that shipments can be made by river as well as by rail. At the Wheeling plant
the company has a large acreage of coal, the mine opening beinglocated within 100 feet ot the manufacturing plant. The coal property at etenbenvtlle embraces more than 3,0OJ aores. The La Belle is
sole owner ot the Pitt Iron Mining Co., operating the following ore
properties, namely, the Waoootah, the La Belle and the Miller, all of
which are located on the Mesab'i range. It Is estimated that the tonnage of ore in sight on these three properties esceeds 17,000,000 tons.
The company 18 thus self-contained, having Its supply of raw materials In the form of ores, coivl, ooke and limestone, as well as a market within Its own system of plants for their products, which are sold
In a completed form to the actual consumer.

nothing for its stock, the others paying in the aggregate
$6.0C0,0JO cash into the Clairton treasnry for the discharge of
floating debt, the completion of the works, for working capital, etc.— V. 77, p. 149,

Vamojl Company of Tuba.— Sae Colonial Sugars Co. on
pagea 12a7, 1389 to 1241. -V. 73, p. 959.
Edison Electric Illuminating Co. of BosXon.— Report.—
The results for the year ending Jane 80 compare as follows:
IViir—

(?roj».

Nd.

Other

inc.

lUridnds.

Intercut.

1902-03. .$?,667,809 $984,724 $J'2,502 $1M.303 $804.t56S
190102.. 2.460,158 949,731 26,981 132,269 727,345

-V.

[Vol. lxxvii.

Ba! , sur.
*(jl,•-i^5
IJ 6,098

77, p. 149.

Elmlra Steel Co.— Property for Sale.—E. B. Leaf & Co.,
Real Estate Trust Bailding, Philadelphia, Pa., have recently
been advertising this company's property for sale, including:

Two 20-Kro8e ton baelo open-hearth steel furnaces; nBlveraal plate
mUl; four merchant bar tratno; puddiemill; 13 furnaces; 9 aores of

Pittsburgh "Money" says that the report for the year ending June 80 "eh) wed earnings for the year of about $450,000,
Since that time, however the tonnage has gradually
increased until the output for the third quarter was over
40,000 tons of steel, the output for September being over
18,000 tons. This is larger than any previous month by over
3,000 tons. The mill is running full and the management
say that they have orders running well into next year."
New Direct07-s.— At the annual meeting in Wheeling, W.
Va., on Sept. 8, the number of directors was increased from
seven to eleven, the following being elected:
A. J. Olarke, Wheeling; A. H. Woodward. Birmingham, Ala.; C. A.
Robinson, Wheeling; H. O. Franiheln, Wheeling; A. 8. List, Wheel-

good bulldinfrg.— V. 73, p. 140.
Excelstior Coke & Gas Co., Topeka, Kan.— Favorable Finding.— The Ulty Council of Topeka in July, 1901, passed an
ordinance reduoing the price of gas from |1 65 to $1 per
thousand cubic feet. The company obtained an injunction
to restrain the enforcement of this ordinance, and on Sept.
4 Special Master Brock tiled a report upholding the contention of the company.
The Special Master 8tat«8 that the company paid $280,000 for the
plint and that It oonid be replaoed, exclusive of franchise, for $160,000 He also tigurea that the company should be allowed 8 p. o. on
the Investment, and 5 per cent for keeping the plant In worfelng
order. The o»i>ltal stock Is $60,000 In *100 eberes, of which A. M.
Bradyof New York In 1901 owned «44,800, and J. T. Olark, Topeka,
owned $15,000. The company Is a Kansas corporation and its coupons
are payable in January and July at the National Shawmnt Bank,
Boston.— V. 73, p. 140.
Federiil Chemical Co of LonlsTille.— /Vew Stock.—Thia
Delaware corporation has increased its capital stock from |3,OOJ.OOO to 14,000.000.— V. 73, p. 902.
«roui)d;

ing; J. E. Wright. Steubenvllle; D. J. Sinclair, Steubenville; O.
Bray, Pittsburgh; E. W. Madge, Pittsburgh; George Greer,
Castle; W. 3. Foltz, New Castle.

W.

New

The company was incorporated in West Virginia on Dec. 8,
1875; its 70,000 shares of stock ($100 each) are in the hands
of 546 holders.
President, J. B. Wright.— V. 76, p, 10S8.

Lackawanna Steel Co. Listed.— The New York Stock EiLonis.—Boada O/ferei.— Wasser- change has listed $10,798,000 additional first mortgage 5 per
mao, Bro. & Co. of St. Louis ofifer at 103J^ aad interest a cent convertible bonds of 1923, making the total listed to
block of this company's $550,0)0 of first mirtgage 25-year 5 date $15,000,000.— V. 77, p. 199, 34.
Lamb Wire Fence Co., Adrian, Mich— Siocfe.—The comper cent gold bonds. Denomination, $1,000; dated March 1,
1903, and due on March 1, 1928, but subject to call after five pany has increased its authorized issue of capital stock from
years at 105 and accrued interest: interest payable March 1 1400,000 to $500,000.- V. 75, p. 669.
and S-pt. 1; sinking fund, $12,000 yearly. A circTzlar says
Marqaette & Bessemer Dock & Navigation Co.— Bonds
A thoroughly modern, flre-prnof, i>erfeotly equipped twelve-story Ojfered,— Lawrence Barnum & Co. are offering $75,000 of
and basement commercial and oflfloe building i^ almost completed In this company's 4^^ p. c. guaranteed bonds at par and interLoul!>, on which thin Issue Is an absolute first Hen. The St. Louis
Frisco Bailding Co.,

St.

:

8t.

See V. 76, p. 1358.
Massachusetts Gas Companies.— iZeporf.— The report for
the nine months ending June 30, 1903, shows the following
results: Dividends and interest received, $755,117; one semiannual dividend of 2 p, c. paid on the $25,000,000 preferred

Han Francisco RR Co. ha^ leased the entire atrnotare for a term of
twenty-live years The railroad corporation also pays all expenses of
the building. Including ;operatlng cost, taxes. Insurance, repairs, etc.,
and in addition thereto pavs the Frisco BuUdln< Oo. a net rental of
Interest on $550,$7ft,000 per year. From this amount is deducted
000 .^ per cent bonds, $27,500; ground rent, $22,'<00; leaving a surplus for each year of the initial five years of $50,000.

est.

A

:

stock, $500,000;

The company was incorporated

in Missouri on Nov. 15,
1902, with $800,000 capital stock in $100 shares, of which
$125,000 is 5J^ p. c. cumulative preferred; all outstanding,
T. Garrison Morflt is President and Isaac T. Cook Secretary

and Treasurer.
Gottlieb-Banernschmidt-Straas Co., Baltimore.— Jnfe';^
on Income Bonds.— An interest payoojent of IJ^ p. c. is announced, payable Nov. 1, on the $3,500,000 of income bonds,
making 3 per cent interest paid on the bonds for this calendar year. V. 76, p. 1246.
Gramercj Sngar Co.— See Colonial Sugars Co. on pages

ett

to the effort to set aside the foreclosure sale through which
the acquisition was effected, and says:
The $11,000,000 paid for these companies was more than the companies were worth to any Interest other than the Massachusetts Gas
Companies, bat they were worth that price to us. I think that the
sellers wonld be qiaite averse to giving us back oar $11,000,000 If the
sale should by any chance be declared void.
Offsetting the $50,000,000 stock and the $244,396 surplus
total, $50,244,396, the balance sheet of June 30. 1903, shows:
Property, $47,696,568; cash in banks, $1,371,888; notes receivable, $1,080,000; accounts and interest receivable, $95,940.

12a7, 1289 to 1241 of this issue.- 78, p. 960,

Htcla Porlland Cement & Coal Co., Bay City, Mich.—
Foreclosure. This company, incorporated in West Virginia
in June, 1901, with $5,000,000 of authorized capital stock, has
been placed in the hands of the Detroit Trust Co of Detroit,
Mich., as receiver, by Judge Swan in the United States
Coart, pending the foreclosure of the mortgage for $731,818.
made to the Detroit Trust Co, last week for the benefit of
creditors. Julius Stroh of Detroit was the promoter and
President of the cement company, which established a large
cement plant at the mouth of the Siginaw River near Bav
City. The company also owns 1,000 acres of marl deposits
In Ogeman County, Mich., 50 miles from Bay City, from
which it derived its raw material; it was also sail to own
coal mines, 6 miles distant from Biy City, lime-stone de-

—

—V,

—

Indianapolis Light & Power Co.— CaZ/ei.—The American
& Trust Co. of Boston will pay on presentation at 104
and interest first mortgage bonds of 1892, Nos. 90, 148, 151,
216, 236, 250, 275, 357; Interest ceased Oct. 16.— V. 75, p. 668.
International Salt Co.— Oppoaif ton, —See National Salt

Trust Co., as trustee, to secure $490,000 of 30-year 5 per cent
bonds datied Aug. 1, 1903, The capital stock consists of 41,000 shares of $10 each, on which $4 30 has been paid in. The
control is owned by D. O. Mills of New York and P. B. Cornwall and Alvinza Hiyward of San Francisco, A report for
the quarter ended Aug. 31, 1903, signed by Secretary James
Fisher says in substance:
Our net profits for the first nine months of the current fiscal year
have been somewhat larger than for the corresponding period last
year. We have executed a mortgage upon our property. Including
the real estate at the corner of Spear and Folsom streets, on which It
is proposed to build our new plant; and we are completing plans for

Loan

p. 1146.

Kings County Electric Light & Power Co., Brooklyn,
y. \.— Listed.— The New York Stock Exchange has listed
$625,000 additional capital stock,
date $3,750,000.- V. 77, p. 92.

making the

77, p. 254, 199.

Mexican Clay Mannfactaring Co.— Bonds, Etc. See
American Clay Working Machinery Co. above.
Morse Iron Works & Dry Dock Co., Brooklyn, N. Y.—
Foreclosure, —The Washington Trust Co, has brought suit
to foreclose the $450,000 mortgage,— V. 77, p. 952,
Mutual Electric Light Co., San Francisco.— Aforffiragre.—
A mortgage has been made to the California Safe Deposit &

po3it8, etc,

Co. below.— V. 76,

expenses, $10,721; surplus, $244,396; total

undivided earnings of all constituent companies. $734,764.
Pending the settlement of the Bay State Qas Co. litigation,
no dividends have been or will be received from the stocks
of the so-called Addicks' Companies, viz.: South Boston Qis
Light Co., Roxbury Qas Light Co., Boston Gas Light Co.,
and Bay State Qas Co. of Maesaohusetts. On account of the
acquisition of these stocks, the Massachusetts Qas Companies
in January last increased both Its common and preferred
stock from $15,COO,000 to $25,000,000. President Weld refers

total listed to

A
&

mort- the building and for the installation of the new maohinery which h&H
KtioxTille (Tenn.) Gas Light Co.— Mortgag ;.—
filed to the United States Mortgage
Trust been contraotert for in the East. It Is anticipated that the machinery
aud lojprovements to be Installed at present will amount to only
Co. of New York to secure $600,000 bonds. -V, 76, p. 1251.
about $275,000, leaving as a surplus of $125,000 in bonds for future
La Belle Iron Works.- The "Iron Age" of Get. 8 devotes use.— V. 77, p. 149.
^14. pag*^8 t^o an illustrated article on this company's extenNatalie Anttiracite Coal Co.- See Mt. Carmel
Natalie
sive steel and iron works, whose capacity it sammarizss:
RR. under -Railroads" above.— V. 75, p, 1357.
The company i operating a out nail factory at Wheeling, W. Va.,turn
National Salt Co.— Protective Committei.—The minority
log out about 1.500 kegs of out nails per day; aUo two skelp mills
rolling (kelp up to 18 inches wide, shovel plate, tack plate, etc. These shareholders' committee consisting of T. A. Darby, 52 Broadtwo mills have a dally capacity of 250 tons. At dtenbenville one way, N. Y S. M. Williams, Ex Vice-President of the Cenblast furnace is In operation, turning out about 400 tons a day, and
the second stack will be ready abjut Jan. 1, 1904, and will turnout tral RR. of New Jersey, and F. P. Holt, have sent out cirabont the same amount; the open hearth steel plant, which contains culars saying in substance:

gage has been

&

i

;

'

Oct.

17. 1903.]

THE CHRONICLE.

On Aug. 20, 1902, there was an ostensible sale of about all of thn stock
of subsidiary oompanlrts formerly ownet by the National Salt Co. un
der a pledge made of the same collateral to an allei;e<l debt of about
$420,000, In the reo<'lvershU> proceeillugB Inntltuted In New York
and New Jersey since that date, praotloally all the real estate and
plants of the National Salt L'o. were sold by onler of the Court, and
theoonttrmatlon of the sale Is up before the oourt for Oct. 12, 1903.
By these prooeedln»;9 substantially all the property -which yonreertlfloates of stock represent will be ostensibly wiped out, and your
stock. If proceedings stand, will be worthless. Eminent (lounsel advise us that all of these proceedlni^M can beset aside and your property
Steps
restored to you provided the stookholder-i act with rtUlij;t<no-<.
have already been taken to protect the Interest of the minority stootc
holders who deposit their stock with the National Safe Deposit Uo. on
or before Nov. 25, 1903.
proposed to increase the size of the committee. The
motion to confirm tije sale was postponed until Oct. 19. The
snit of Henry K Pomroy and other shareholders against the
former directors (V. 76, p. 1196.) is now before Jtidge Leventritt of the Supreme Court of this State.— V. 77, p. 773, 801.
It is

Niagara Falls Power Co.— New Stock.— The shareholders
will vote Ootober 24 on increasing the capital stock from
$9,600,000 (the amount now authorized, of which $6,000,000
reserved for the conversion of outstanding debentures) to
And en issuing not exceeding $900,000 of euch
$10,600,000.
increased ptock to purchase preferred stocks of the Niagara
Junction Railway Co. and Niagara Development Co,, and
non-interest-bearing sorip of the last-named company as
stated in V. 76, p 1146.

&

Electric Co.— Sale.— In the Superior Court
at Hartford, Conn., on Oct. 10, Judge Robinson filed a memoranda of his decision overruling the remonstrances made by
the city of Norwich and confirming the report of the commission, which placed a valuation of $590,000 on that part of the
property to be taken by the city.— V. 76, p. 1088.

Norwich

(ias

Pennejlranla Steel Co.Sale of Interest in Juragua
Co.— See Bethlehem Steel Co. above.— V. 77, p. 773,

Iron

&

Phoenix, Ariz,, Water Co.— Bond'?.— H. C. Spiller
Co.
of Boetyn are olfering a block of the $500,000 consolidated
4 per cent bonds, due June 1, 1930, interest payable June and
Deo. 1st at the Chemical National Bank of New York. These
bonds were issued under a plan of reorganization and are
dated June, 1900.
Coupons off up to Dec. 1st of the present
year. (Compare Chronicle of June 27, page 1423.) Y. 69,
p. 1106.

1229

receiving 1}4 p.

V. 77,

o.
p. 399. 302.

quarterly since November, 1901.

Compare

Toledo Stove Co.— Stock Increated.—Thia company waa
recently re- incorporated under the laws of Delaware and
Its stock increased from $100,000 to
$500,000, of which
$280,000 is 7 per cent preferred. It is proposed to enlarge the
capacity of the plant from 20 to about 60 stoves a day.
George G. Metzger is President.

United Gas Improvement Co.— Sfafus. -Vice-President
Bodine of the United Gas Improvement Co. sajs to the
" Philadelphia News Bureau:"
You may state Hi olally that reduction In the dividend rate from
8 p. 0. to H p. c. Is not contemplated. The regular rate Is to be maintained. Our earnlnKS are larger than laft year, here being a material Increase In the sales of gas, and the company Is In splendid oondltlon. It Is expected that the earnings for the flscal year to end
11

1

Deo. 31 next will be close to 12 p o. on the »36,725,000 stock. Laat
year they were about 12 p. 0. on $28,250,' 00 stock, or 9 p. 0. on the
present outntaadlug stock. Of the proceeds from the sale of the $8,475,000 new stock, about 50 p, 0. ttill temaios In the company's treasury, and win be expended to complete the Improvements of the properties for which which these funds wera .Intended.— V. 77, p. 255, IBO.

United States Glass Co —i2«cf«c<ion 0/ S^ocfc.— The shareholders will vote on Oct. 27 on the following propositions:
1. An agreement dated June l, 1903, entered into between this
company and certain holders of the preferred stock, which agreement
provides for the redemption and retirement of the preferred stock
upon the terms berelc after stated.
2. The reduction of the capital stock from $5,0CO.O0O to $3.200,000. thereby retiring the entire Issue of $1,000,000 of preferred stock
and also $800,000 of the common stock.
3. The creation of a bonded debt of $770,000, for the purpose of retiring aald preferred stock.
Under agreement of June 1. 1903. certain holders have agreed to
surrender their preferred stock In exchange for flret mortgage 5 per
cent bonds, at the rate of $110 of bonds for each share of such preferred stock. There Is due upon said preferred stock seven annual
dividends of 8 p. 0. each [In all 56 p.
the said preferred
], and
stocbholders have agreed to surrender their claims thereto as follows:
There shall be paid to the holders of the preferred stock so exchanged
for bonds, a sum of money equal to 2 per cent of the par value of the
shares so exchanged, and the remaining .'i4 p. o. of deferred dividends
shall be divided Into eighteen equal semi-annual instalments without
interest, the first of which shall be due not later than March 1, 1904;
and these semi-annual inataiments shall be evidenced by noto eeoured by the mortgage securing the said bonds— V. 77. p. 450, 401.

A

United States Steel Corporation.— .£7concmt€s,— member of the finance committee, referring to the inspection
tour cf the committee, now in progress, ia quoted as follows:
We intend to economize in every direction and in every department.
In eotne Instances

it

may

be necessary to close plants for a short time.

Pittsburgk Coal Co.— Purchase.— Arrangements for the In others the cost, will be reduced and the output restricted to
acquUition of a controlling interest in the Monongehela River actual demand. In three months the situation may be wholly changed,
bat meantime we are going to do all we can to meet present condiConsolidated Coal & Coke Co. (V. 77, p. 774, 630,) are re- tions on conservative lines.
ported to have been perfected, the transfer to take place on
Deal Off.— See Crucible Steel Co. above.
or about Nov. 1. The larger deal with the Pennsylvania
Contract,—The "Daily Telegraph" of London asserts that
Railroad Interests, involving a considerable bond issue, will Harland & Wolff, the shipbuilding firm of Belfast,
have
probably be deferred until the money market conditions im- signed a contract to take all the iron and steel they require,
prove.— V. 77, p. 774, 680.
estimated at 150,000 tons annually, from the United States
Pallman Company.— iZ^por^ —The results for the years Steel Corporation.— V. 77, p. 958, 827.
ended July 31, 19i3, 1902 and 1901, compare as follows:
Yalcan Detinniiig Co.— Dividend on Common Stock Passed
FUeal
Total
Net
Dividenda Balance,
Total
and on Preferred Reduced, The 1 p. c. dividend for the
year.
rectnxie,
income.
paid, 8%.
aurplut.
surplus.
1902 08... f 33,120.713 $9,417,842 $5,»19,»23 f 3,49 /,719 $14,275,749 quarter ending Sept. 80 on the $2,000,000 common stock has
1901-02... 20.597,903 8,P35,674 6,919,923 3,015,751 10,778,030
been passed and the quarterly distribution payable Nov. 20
1900-01... 17,996,782 8,786,221 6,919,886 2,868,335
7,782,279 on the preferred stock is only 1 per cent, contrasting with
The number of passengers carried during 1902-3 was 14 p.c. the 1^ p. c. for previous quarters. Secretary Hecht says:
greater than in 1901-2.— V. 77, p. 454.
On July 17, 1903, our factory at Streator, 111., was almost totally
destroyed by a cyclone. The work of reconstruction was completed
Saginaw (Mich.) City Ga8 Co.—See Saginaw-Bay City Sept 2l8t, 1S03, since which time the plant has been in full operation.
The cost of reconstruction, which drew very heavily upon our re(Mien.) Railway & Light Co. in V. 77, p. 951.— V. 76, p. 387.

—

Clond (Minn.) Water- Works Co.— SoW.— At the foreclosure sale on Ojt. 3 the property was bid in by the city for
St.

$75,000.— V. 77, p. 455.

sources, has been entirely paid and provided tor without incurring
In view of tbis fact, and also in view of the present delicate eitnatlon of the steel business of this country, the dideem
it
prudent
to strengthen our cash resources, and thererectors
fore have decided to pass the dividend on the common stock for this
quarter. The factories at Sewaren. N. J., and Streator, 111., are now
working on fall lime. Compare V. 76, p. 1142.

any indebtedness.

0. Gas & Electric Light Co.—Neio Stock.— The
has increased its capital stock from $500,000
Wariier-Qainlau Asphalt Co.— /ncorporaied— This comto $800,000. Compare V. 77, p. 302.
pany was recently incorporated in Maine with $1,000,000 of
Shamokin (Pa.) Coal Co.— See Mt. Carmel & Natalie RR. authorized capital stock. Officers:
under "RailroatJs" above.
President, I. L. Fairbanks; Treasurer, J. Berry. Directors— I. L.
Spring Talley Water Co., San Francisco.—-Ft'rs^ Divi Fairbanks, J. Berry, L. A. Burleigh, of Augusta. Me C. M. Warner,
B. Warner and G. E. Warner, all of Syraouse, N. Y. Compare V.
dena of New Company.—The first dividend of 21c. per share C.
74, p. 482.
was payable Oct. 12. Holders of the stock of the old Spring
White Mountain Paper Co.— Receivers' Certificates.— On.
Valley Waterworks Co. can obtain this dividend on exchangNovember 9 the receivers will apply to United States Judge
ing their holdings for the new stock at the rate of one share
Aldrlch at Concord, N. H., for authority to issue $70,(100
for two shares of the new.— V. 77, p. 827, 303.
receivers' certificates to complete the payments on a spool
(John P.) Sqnire & Co.— JVo^ice to Shareholders.— The pro and box mill at Conway, N. H., and for leave to operate said
tective committee, which controls a majority of the common
mill or to lease the same for a term of years, the said certifistock, has issued a circular asking authority in writing to cates to be a first lien upon the property so purchased, and
sell the stock or the certificates deposited with the City Trust
in case said property is not sufficient to pay the same, to be a
Co., Boston, "dt such price as may be agreed upon by your lien on all the property of the compauy prior to the mortgage
committee." It was stated at a meeting last week that no securing its bonds. Judge Aldrich on Oat. 13 declared the
offer had been received and none, it is said, will be expgcted company bankrupt.
V. 77, p. 855.
until this authority is granted.— V. 76, p. 269.
Steel Ores Co.— f oricfs«— The October coupons of the first
circular issued this week by Redmond, Kerr & Co., 41
mortgage gold 63 were paid at the Knickerbocker Trust Co. Wall St., is more than usually interesting. Ic brings toThe issue (all outstanding) consists of $250,00) sinking fiiad gether a number of the highest grade railroad bonds, and
bonds, denomination $1,000, dated April 1, 1902, and due points out how these securities, owing to the absence of deApril 1, 1932, but subject to call at par and interest at any mand from savings banks, have been forced down to prices
time after April 1, 1905; trustee. North American Trust Co. which make them attractive to private investors. A second
President, Joseph H. Everett; Secretary,
group is given of short-time secured railroad notes, which
J
y T. Fay.—
J. Henry
V. 76, p. 294,
can be obtained on a 4)^ to 6)^-per-oent basis.
Syracuse (N. Y.) Lighting Co.— First Dividend on Com—Lawrence Barnum & Co., 27 and 29 Pine Street, are
mon. —The company has declared a dividend of 2 p. c. on its issuing their circular No. 28, containing brief descriptions
$3,000,000 common stock, being the first distribution on that of 24 blocks of bonds of various issues— municipal, railroad
stock, payable out of the earnings for the fiscal year ending and others— which they have for sale at prices to yield on the
June 80, 1903, in quarterly instalments beginning Dec. 1 next. investment from 3K P< c. up to 6 p. c, and in one case even
The preferred shares aggregating $1,000,000 have been 7 p. c.

Sandnsby,

company

;

—

—A

THE CHRONICLE.

1*230

^i^p^orts

[Vol. Lxxvii.

nn& ^ocxxmtnts.

INTERURBAN STREET RAILWAY COMPANY.
LESSEE OF

THE METROPOLITAN STREET RAILM'AY COMPANY.

ANNUAL REPORT FOR THE YEAR ENDED JUNE

30, 1903.

To the Stockholders:
Fourteknth St. Chosstown Line.— The work of convertTbe Board of Directors herewith submit their report for ing this line to electric traction, from First Ave. to Thir
the year ended June 30, 1903— the first full year of the opera- teenth Ave. is at present under way.
tion'of the Metropolitan System by the Interurban Street
Second Ave. Line.— The electric construction upon this
Railway Company as Lessee.
line has been extended south from Stuyvesant St. to the
junction with the Third Ave. line at Grand St. and the
AUDIT BY HASKTNS & SELLS.
The accounts of the Company have been audited by Has- Bowery.
Kingsbridge Power House. —This station, located at
kins & Sells, Certified Public Accountants, whose certificate
Two
Hundred and Eighteenth St. and the Harlem River,
is appended hereto.
was completed during the year and a portion of its machinCONSOLIDATED INCOME ACCOUNTS.
ery installed and put in operation.
In order to present a clear view of the operations of the
New Car Houses.— A new, car house has been erected at
entire system, the income accounts of the constituent com- Fourteenth St. and Ave. B for the accommodation of the
panies have been combined into two consolidated income east-side electric cars in that part of the city.
The Ninth
accounts, one for the Metropolitan Lines and the other for Ave. car house, which was originally intended for horse
the Third Avenue Lines.
cars, has been remodeled to accommodate electric oars. The
remodeling of the Thirty-toarth St. car house is now in progEARNINGS FOR THE YEAR.
Tho gross earnings from operation of the entire system for ress.
New Transformer Station.— A new sub-station on
the year were $2:, 549,545 95, an increase of $618,377 43 over
This increase was considerably less than the normal Bayard St. was completed and equipped with the necessary
1902.
,

increase because of a

number

of adverse conditions, the

most important of which was the subway construction upon
Fourth Avenue, Forty-second Street. Lenox Avenue and
upper Broadway, which necessitated the partial suspension
of operation upon certain lines and seriously interfered with
traffic upon many others.
The operation of several other
important lines was practically suspended for a considerable
part of the year by the work of installing the underground
electric system upon those lines. The operating expenses of
the year were adversely affected by the same conditions, as
well as by a substantial increase in wages, the abnormally
high prices for fuel due to the coal strike and the high
prices for materials and supplies, including feed for upwards
of forty-seven hundred horses .vhich the Company was compelled to use.
The fixed charges were increased by $431,444 44 for interest upon the §11,000,000 of Metropolitan Street Railway
Company Four ter cent Refunding Bonds which were issued,
pursuant tothelnterurban-Metropoiitan lease aspartconsid
eration for the sum of 823.000,000 in cash payable by the Internrban Company thereund'^r. While the increase in earnings for the year was not suflfic'erit to overcome this additional fixed charge, it is expected that it will be largely
exceeded by the increase in the net earnings which will
follow the completion of th=* extensions and improvements
now in progress which the issue of the $11,000,000 of Re-

funding Bonds made possible.

MILEAGE AND FRANCHISES.
Street Railway Company now owps,

The Interurban

or
controls by lease or through subsidiary companies, all of
the surface street railroad lines in tbe Boroughs of Manhattan and the Bronx (excepting one unimportant horse-car
line in the Bronx), aggregating 478 miles of single track.
All of the franchises are perpetual excepting the Kingsbridge franchise, covering three and one-quarter miles of
street.
map of the system is annexed.

A

EXTENSIONS OF ELECTRIC LINES.
During the present season 14'18 miles of lines in the Borough of Manhattan have been equipped with the underground electric system, or are in the course of equipment;
and in the Borough of the Bronx 31 miles of new electric
lines have been constructed, or are in process of construction, thus adding an aggregate of 45 miles to the electric
lines comprised within the system.
While all of these extensions will be in full operation by December of this year,
few of them were completed in time to materially contribute
to the earnings

d the past fiscal year.

NEW

CONSTRUCTION, EXTESSIONS AND IMPROVEMENTS.
The following is a summary of the more important imErovements and additions to the Company's property which
ave been completed or undertaken:
In the Borough of nanhattan.
KiNGSBRiDGE ROA.D. —This line (comprising about 3J^
miles of double track underground electric line), which was
Sartially constructed in 1902, was completed to the Harlem

and placed in full operation.
Ninth Ave. Line. This line, from Cortlandt St. Ferry to
Fifty-third St., has been converted to underground electrical
iver

-

traction, thus bringing the Ninth Ave. line into connection
with all the upper west side lines.
Eighth St. Chosstown Line. —This line, connecting with
all the north and south lines of the Company, was converted
to underground electrical traction from Sixth Ave. to East

River.

Eighty-Sixth St. Chosstown Line.— This line was recon
structed and converted to underground electrical traction
from Madison to Eighth Aves., and also from Second Ave.
to Ninety -second St., and East River.

transforming machinery.
New Cars. —Two hundred new cars with motor equipments were received during the year for service in the

Borough of Manhattan.
In the Boronsh of the Bronx and In Westchester Oonnty.
New Construction.— In this section, covering all that
territory north of the Harlem River to a line drawn east
and west across Westchester County from Tarrytown to
Mamaroneck (see map in pamphlet report), 31 miles of
extensions were added to existing lines and 25 miles of old
lines were reconstructed.
Transformer Stations.— A new substation at West
Farms has been constructed and recently put in operation.
At Yon hers a new sub-station and a new car house are in
process of construction.
At Mount VernoQ a new sub -station is now being erected.
These sub-stations are all to be supplied with power from
the Kingsbri'ige power station and are to replace old power
stations here t'^f ore operated independently at West Farms,
Yonkers and New Rocbelle.
Bronx River Car House. During the year the erection
of a large c>ir house for the territory of the Bronx was begun
upon a tract of land purchased for the purpose

—

development of the borough of THE BRONX.
The population

in the Borough of the Bronx and the
adjacent portions of Westchester County is now estimated
at upwards of 400,000, and is increasing rapidly. In order to
aid in the development of this territory, as well as to provide
for its rapidly incre^sipg business the Union Railway Company, which operates the lines in the Bronx, has pursued
the policy of extending its lines and increasing its service in
advance of the requirements of the present traffic. In pursuance of this policy that company has during the past three
years constructed 53 miles of additional lines and reconstructed and modernized 25 miles of old lin-s. It is believed
that these expenditures, although not proluctive of immediate returns, will be amply justified by the growth of the
business in the territory during the next few years.

REDUCTION IN COST OF POWER WHICH WILL FOLLOW OPENING OF KINGSBRIDGE f OWER PLANT.
The new Kingsbridge power p'ant is intended to generate
high tension current for transmission to the sub-stations in
the upper part of Manhattan Island and in the Borough of
the Bronx and Westchester County. It is expected that before
the close of the present fiscal year all the current requirei for
the operation of all the lines in the Boroughs of Manhattan
and the Bronx and in Westchester County will be supplied
from this power station and the Metropolit<»n power station
at Ninety-sixth Street and First Avenue, with the result of
very materially reducing the aggregate cost of producing
current. These two power stations will have to /ether a
maximum generating c<pacity of 116,000 horse power, which
is sufficient to provide for the growtti of the business for
several years to come.

IMPROVEMENTS AND EXTENSIONS NOT REFLECTED IN THE
YEARS EARNINGS, OWING TO CONSTRUCTION DELAYS.
Most of the construction undertaken during the year has
been unexpectedly prolonged by delays in the delivery of
materials and by the other delays to which most of the importau' construction work in the City of New York has
The result is that the large expenditures
been subjected.
for the extensions and new construction referred to above
were not fully reflected in the earnings of the year. On the
contrary, the construction work upon the lines which were
reconstructed during the year temporarily suspended or
reduced the earnings of those lines, while the economies in
operation, intended to be accomplished by the new Kingsbridge power house and the new sub stations tributary to it
are only now beginning to be felt.

3

Oct.

THE CHRONICLE.

17, 1903.]

OONSTRUCTION P1.AN8 FOR
Plans are under

way

'

to continue

1904.

daring 1904 the extension

System in the Borough of the
Bronx and the adjacent territory, and to install in the
Borough of Manhattan the underground electric system
upon most of the important lines which are still operated by

1231

CONSOLIDATED INCOME ACCOUNT FOR THE YEAR ENDED
JUNE 30, 1903.

of the lines of the tlnion

horse cars.

SALE OF UNUSED REAL" ESTATE.
Submitted herewith is a schedule of real estate. As eoon
as the new Kingsbridge power plant and the new sub-

stations are in full operation, and the new car houses are
completed, many parcels of real estate in various parts of
the Jcity, havine an aggregate value of several million
dollars, will no longer be required in the operation of the
property. It will be the policy of the Company to sell this
unused real estate and apply the proceeds to the reduction
of the

metropolitan

lilnes.

niOLDDIMO METROPOLITAN, THIRTY-FOURTH 8T. CR088T0WN, FOLTON
ST., TWENTY KIOUTH AND TWENTY-NINTH BT8. 0RO88TOWN,

CENTRAL CROSSTOWN AND MOUNT VERNON LINKS.
OR088 Earnings from Operation
$16,178,563 57
Lk8s Operating Expenses—
Maintenance
$1,282,735 97
Transportation
4,968,118 25
General (Including damages and legal
expenses)

1,555,464 27

7.806,318 49

funded debt.

Net Earnings FROM Operation
Income from Other Sources

$8,372,245 08
248,599 06

Gross Income from all Sources.
Deductions from Income—

$8,620,844 14

of leased Hues, Including
Interest upon funded dent of companies leased or controlled*
$3,715,964
lutereat on $11,000,000 Metropolitan
St. Ry. Co. Four Per Cent Refund-

Rentals

NEW ADVERTISING CONTRACT.
During the year the Company negotiated a new advertising contract for the entire system, to go into effect on Jannary 1 1904 (when the present contracts expire), which
provides for an aggregate annual revenue of |2'25,000— an
increase of about $143,000 per year over the revenue under
present contracts.

ing bonds Issued under The MetTopoUtan-Interurban lease
Proportion of net Income of Central
Crosstown RR. Co. applicable to the
1,006 shares of stock (out of a total
of 6,000) not owned by the Interurban St. Ry. Co
•'Taxes

431,444 44

EXTENSION OF TRANSFER SYSTEM.
The transfer system has been extended so as to provide
for transfers between the Third Avenue Lines and the Metropolitan Lines. The extent to which the people of New Surplus
York have enjoyed the benefits of the transfer system is in- Surplus available
Interurban

5,lH.r04 84
$3,509,339 30

St.

130.452 45

Ry. Co

* Excluding Interest and dividends upon stocks and bonds of constituent companies which are owned or controlled by the Interurban Co.
** Franchise taxes on appeal to United States Supreme Court not

Included.

Third Avenue

lilnes.

IWCLUDINO THIRD AVENUE, FORTY-SECOND 8T. MANHATTANVILLE
BATTERY,
8T. NICHOLAS AVENUE, DRY DOCK EAST BROADWAY
KINGSBRIDGE, UNION, WESTCHESTER ELECTRIC, SOUTHERN
BOULEVARD, YONKER8, TARRYTOWN WHITE PLAINS

based on length of eervioe, have produced most gratifying
results.
The morale and stability of the entiro force have
been improved and the number of changes im employees
through withdrawals and dismissals greatly reduodd.
The Board desire to express their appreciation of the efficiency and fidelity with which the otBcers and employees
have performed their duties during the past year.
By order of the Board,
H. H. VREELAND,

<fc

<fe

& MAMASONECK LINES.
GROSS Earnings from Operation
Less Operating Expenses:-

$5,370,982 88

$626,459 32
2,229,144 34
Transportation
General (including damages and legal
727,187 63
expenses)

Malntenance

3,582,79129

President.

8, 1903.

^

Net Earnings from Operation
Income from Other sources

HA SKINS &

SELLS,

Certified Public Accountants, «0

Broad Street,

New

$2,027,000 00
227,684 58

Interest on funded debt

.

Deficit for the year

ended June 30, 1903

2,254,ef»4

68

$141.6e4

'iQ

•Franchise taxes on appeal to United IStatea Supreme Court not

|

&

$2,113,000 32

•Taxes

,

Haskins

$1,788,191 09
324,809 23

Gross Income from all Sources
Deductions from Income: —

York.

New York, September 30, 1903.
S. H. Vrteiand, Eiq President Inteintrban SI. Ry. Co., Neio York.
We have examined the books and accounts of the Interurban Street
Railway Company and Its leased and controlled companies for the
ear ended June 30, 1903, and we hereby certify that the accompanying General Balance Sheets and Statements of Income and Profit and
Zm»6 are correct, and agree with the boobs.
(Signed)

30
$8,639,791 75

INAUGURATION OF PENSION SYSTEM AND GRADUATED
SCALE OF WAGES.
The plan for a pension system for' employees, and the
graduated scale of wages for conductors and motormen

October

11,305 06
952,791 00

for guaranteed dividend of seven per cent upon capital
stock of the Metropolitan St. Ry. Co.. $3,509,339
Balance of guaranteed dividend paid by

dicated by the fact that of the 622,071,723 passengers carried lait "year bv the Metropolitan and Third Ave. lines,
488,808,524 paid' cash fares, while 188,463,199, or about 433^
ptrcent of the cash-fare passengers, used transfers.
The
average fare per passenger received for all passengers carried, including transfer passengers, was 3'46 cents.

34

Sells, Certified Public Aceountanti.

included.

INTERIRBAN STREET RAIIiWAY COMPANY, LESSEE.-CONSOLIDATED GENERAL BALANCE SHEET JUNE 30, 1903
ASSETS.

Total.

CONBTKUCTION, EQUIPMENT,
LBA.8E8

AND FRANCHISES

Additions and 'RFTTFHMwwTft^
Leased Lines

iHVESTMENTg

(1)

Materials and Supplies

$
141,239,201

LIABILITIES.

Metr'politan Third Ave
Lxnet.
Line:

$

$

Capital Stock

67,759,213 73,479,988

Funded Debt
21,376,239

4,125,369

20,380,268

1,500

1,034,144

787,201

246,943

88,097,000

(1)

39,978,000 48,800,000

Real Estate Mobtoaoes

3,465,000

3,465.000

950,000

950,C00

12,132,500

12,132,500

995,383
6,000
2,492,309
25,138

145,890
«,000

849,493

1,769,201
12,693

723,109
12,445

Metropolitan Securities Co.—

2,238..580
to

pay coup..

Bills receivable
A ocount ." re celvable

Metrop lUtan Securities Co. subscription to Interurban St.
Ry. Co.'s Securities

Total
Co.'s in

$
$
00 59,403,100 23,754,400

Securities due

It

under sub-

Current Liabilities—

Cash
Cash -On deposit

Third Ave. Lines

5 67.582,1

(1)

Interurban Street Rt.Co. Ten-

21,376.239

Current Assets—

Due fsom

Metropolitan Third Ave.
Lines.
Lines,

Total.

995,390
199.5S7
440,198

1,861,567
145,890
110,861
260,860

10,202,000

10,202,000

14,075,754

12,581,178

367,01
8*9, 50O

Coupons due and ucpaid
Bonds due and unpaid

88,726
179,338

Employee's aeposits

3,519,490

Total

1,933,783

1,292,568

Accrued Liabilities—
Waff 68. etc.......

13,694

1,585,706

Co'8 in the SystemMetropolitan Lines (2)

1,29-2,568

(2)

f)51,200

741,158

1,073,677
56,284

80.5,115

43,719

110,042
263,562
12,565

1,981,161

1,539,992

391,169

4,423,503

4,423,503

13,894
Total

Pbbpaid Accounts—
Insurance, Track Rentals, eto..

660

660

Due to

1,494,577

the System:

Drv. ACCRUED on STOCKS OWNED:

— ...

Reserve fob Contbolled Com286,153

219,896

66,258

534,578

FANIES(3)

Pbofit and Loss— Surplus

(3) ..

X 534,578

1

Total assets

Total Liabilities

182,150,754 124,410,457 75,289,265

182 150 754

^o.±

Ain

t^ oqo

,i?;7

t
1

See notes on followinK paae.

<>«?;

:

THE CHRONICLE.

1 'Z'3'2

5

Vol. lxxvii.

Capital Stock:

Capital Stock t">CT8TANDrso—

The Third Ave. RR. Co

METROrOLlTAS LiSES—
Metropolitan St. Ry. Co
Interurbau St. Ry. Co

$7,880,000
Forty-second St. Manhattanvllle &
St. Nicholas Ave. Ry. Co
2,469,800
Dry Dock East Broadway & Battery
RR. Co
1,176,200
Union Ry. Co. of New York City
2,000,000
Tarrytown White Plains & MamaroneckRy.Co
300,000
Southern Boulevard RR. Co
248,300
YonkersKR.Co
992,500
Westchester Electric RR. Co
500,000
Klngsbrldge Ry. Co
8,600

$52,000,000
7,302.500
100.600

;

Central Crosstown RK. Co

$59,403,100

Total.

Third Ave. Lines—
The Third Ave. RR Co
42d St. Manhattan vllle & St. Nicholas Ave Ry. Co
Dry Dock East liroadway & Battery RR. Co
Southern Boulevard RR. Co
YoiUers RR. Co

$8,115,800
30.200
23.800
1.700
7,500

..

$15,575,400

Bonds:

$8,179,000

Total

Total, Metropolitax System

Forty-second St. Manhattanvllle <fe St. Nicholas
Ave. Ry. Co. 2d Mortgage Income Bonds

681,000

$67,582,100
Total

$16,256,400

Note.— For

the purpose of presenting the ret assets and liabilities
of the Metropolitan and Third Ave. lines combined, the following
chancres have been made in the "Total" oolunm as compared with the
aggregate of the cross footings:
(1)

There has been eliminated from the Uabllitles "Capital Stock"
and "Funded Debt" and from the asset "Investments" the par
va'ne of stocks and bonds of companies of the Third Ave.
Lines owned by companies of the Metropolitan Lines, as

(2)

There has been eliminated from both the assets and liabilities
$1,292,567 59 due bv companies of the Third Ave. Lines to
companies of the Metropolitan Lines.

(3)

There has been eliminated the Metropolitan Lines' "Reserve for
Controlled Companies," $534,578 07. and the Third Ave. Lines'
Profit and Loss deiioit. of a corresponding amount, for which

was

the reserve

follow

nETROPOLITAN

created.

LINES.

GENERAL BALANCE SHEET JUNE

30.

1903.

Metropoli- Interurban

ASSETS.

Oox^TRlirTION EOITIPMRNT

I^RAflES

AKD FRANCHISES.

Additions and Betterments Leased Lines
IWKSTIiBMTS

(ll.

tan Street
Ry. Co.

Total.

..

.

9
.........

......

.....

....

.

M\tesial8 and Scppliks

Street

29th <«
Central
Crostt'wn 29th St.

RR. Go.

Ry. Oo.

$

RR. Oo.

$

67,759.213

Fulton

St.

Street
Oo.

RR.

$

5,012,330 1,694,073 3,404,174 2.839,993 1,000,000

21,376,239 2l.S7fi '>3a

20,380,269 11,080,668 13,100,001

1,000

787,201

708,771

76,057

2,373

882,629

902,506
145.680

£3,947

...._.........>••.-

1,861,567
145,890
110,861
260,860

159,348

Metropolitan Securities Company subscription to Interurban
.
...... ........
street Rv. Co 'r aefturities.

542

10,202,000

10,202,000

12,581,178

1,758.067 11,409.534

........

3ith

OroiBl'ten
Ry. Oo.

-

Cdrrent AssetsCash

(2)

B1118 ref (^ivablB (4)

AoAonntA

.

..................

.

_.

rt*oftlval)lfi

Total

COMPANIE.S IN the STSTEM —
MAtroDOlitan Lines (6i
.
.
Third Avenue Lines <5)
.

210

774.468
100,i)70

64,698

DCK FROM

...

.

...

1.292,563

5,679,830
624,514

673,770

1,292,568

6,304,345

673,770

.......

Total

ACCRUALS—
Interest on bonds owned (8^
Dividends on stock owned (2)

Total

170

.
...........
....................

...
(3)

...

13,894

83,965

13,894

84,135

219,996

217,891

Prepaid AccorNTs—
Insurance, track rentals etc.

(7\,

..

..................

2,385
.

Total

.

124,410,457 95,036,732 30.573.718 1 764 529^-4.04.171 2,839,993 1,000,000

Ai(«BTS

LIABILITIES.
Capital Stock
Fitnded Debt

$

$

59,403,100 52,000,000

(1)

7,302,500

39,978,000 37,030,000

(1)

iNTBsnRiiAN Street Ry. Go's Three Per Cent Notes

3,465.000

Real Estate Mortoaobs

$

8
$
$
600,000 1,500,000 1,000,000

500,000

250,000 1,500,000 1,000,000

500,000

3,465,000

950,000

950,000

Metropolitan Securities Co.-8fiCUBiTiE8 Dub Them Under
Subscription

12,132,500

12,132,500

..

<3urrent Liabilities—
Bills payable (4)
Aooounts payable
............................................
Coupons due and unpaid
Bonds due and unpa d
Employees* Deposits

Total

Due to Companifs

in

1,769,20£
145,890
6,000
12,693

298,439

1,933,783

304,439

663,607
5,168

1,465,593
145,680

210

6,oo6

12,367

326

1,623,640

669,311

4,245,802

1,003
189,861

404,174

839,993

4,245,802

190.864

404,174

839,993

741,158
605,115
43.719

791,722
772,318
42,220

4,663
32,727

1,589,992

1,606,331

39,269

534,578

534,578

the Ststem-

Third Avenue Lines (5)
Metropolitan Lines (6)

...

4,714

...
-

4.714

Total

Accp.uED Liabilities—
Interest and rentals (3)
....
Taxes

(8) (9).

......

.........

Total

........

Third Avenue Lines— Profit and Loss
Pbofit and Loss— Surplus—June
Tota-l Liabilities

30, 1903, (9)

4,747,579

4,423,503

X

227,670

X

108,963

1,879

15,086

124,410,457 95,036,732 30..573,718 1,764,529 3.404.174 2.839.993 1.000.000
1
1

ties

of the Metropolitan Lines as a whole, the folio wingchanges have h een
In the "Total' column as compared with the aggregate of the
CrO'iB fOOtlDgS:

made

1

.

1

(l)Tlliere has bet

X Deficit.

m eliminate d

from tltie Uabllit es "Capit al Stock"
from the asset "In vestments " the par

and "Fund ed Debt" an d
value of stc)ck8 and bo nds of CO mpanies ()f the Melsropolitan
Lines owne d by other companies of the Me tropolitan Lines as
(

follows:

Note* continued on next page.

Oct.

17, 1903.

THE CHUONICLE.

|

Capital Stock—
central Crosstown RB.Co
28th and 29th St. RR. Co
34th St. CrosBtown Ry. Co
Fulton St. RR. Co

There has been eliminated from the

liability "Bills Payable." and
iromlt he asset "Bills Koceival)le,".f 663,000 83 duo liv companies
of the Metropolitan Lines to other companies oX the Metropoltan Lines.

(4)

5(499.400
1,500,000

1,000.000

500,000

There has been eliminated from the liability "Due to Comnantes
In the System," and the asset "Due from Companies in the
System." $5,716 9S duo the Third Ave. Hues by oompanles of
the Metropolitan Lines to reduce the amounts due from the
Third Ave. Lines to a net balance.
There has been eliminated from tlie liability "Due to Companies
in the System." and from the asset "Duefrom Companies lin
the System," $5,679,830 37 due by oowpanies of the Metropolitan Lines to other companies of the Metropolitan Lines.
There has been eliminated from the liability " Waues, etc., Accrued," and from the' asset " Insurance. Track Rentals, etc.,
Prepaid, ",$380 63, to reduce the insurance aacouutto a net

(5)

$3,499,400

Bonds—
Broadway Surface Ry. Co
Metropolitan Crosstown Ry. Co

$2,000
300,000
302,000

(6)

$3,801,400

Total

There has been eliminated from the asset "Dividends Accrued on
StockB Owned" $1'2.485. representing a dlvlleud paid by one
of the companies of the Metropolitan Lines on Juno 30, 'l!)03,
which was not received by the company to which paid until
July 1. 1903. This amount, which was cash in transit between
compiinles of the Metropolitan Lines, has been added to the

<2)

(7)

balance.

There has been eliminated from the liability " ReMals Accrued,''
and from the asset "Interest Accrued on Bonds Owned," $170
for Interest accrued on bonds owned by companies of the

(8)

asset "Cash."

There has been ellmtnatel from the liability "Rentals Aoorueil."
and from the asset "Dividends! Accrued on Stocks Owned," $57,585 75 for dividends accrued on stocks owned by companies of
the Metropolitan Lines, as the dividends represented are paid
as a rental ohar.i;e by other companies of the Metropolitan

(3^

Metropolitan Lines, as the Interest represented Is paid as a
rental charge by other companies of the Metropolitan Lines.
There has been added to the liability " Rentals Accrued." and
deducted from the profit and loss, $2,529 40 for the proportion
of the Central Crosstown RR. Co.'s surplus applicable Jane 30,
1903, to the minority stockholders of that company.

(9)

Lines.

THIRD AVENUE

lilNES.

GENERAL BALANCE SHEET JUNE

ThtSd
ASSETS.

Total.

Avenue

RR.

COSSTRUCTION. EQUIPMENT,
AHD Franchises
iNTKSTlfENTS

LEASES

Real Bstate Mostgaoe

(2)

<£•

way

Nlchotat Ave.
Ry. Oo.
St.

<»

Battery

RR.

$

1,500

(1)

1903.

Tarry-

Kinatbridge
Ry. Oo.

Oo.

9

Canton
Ry. Oo.
of N. r.
City.

$

town
n
White South'
BcnileTotikers
Plain t<£ vard
Mama- RR 110. RR. Co.
roneck
Ry. Oo.

$

9

Westchester
Elect rie
RR. Oo.

9

9

1,500

100,000

.

Mateeials and Supplies

TsBASURT Bonds

$

4?d Street Dry Dock
ManhalE. Broadtanville

30,

73,479,988 42,632,959 11.609,955 3.874,415 2,226,362 7,395,162 861,087 522,972 2,535,619 1,821,456

..

.

$

Oo.

1-233

246,943

301

141.798

3,587

79,43?

3,480

102,785

3,160

6,273

12.067

7,059

125

25,751
12,550

2,760

2,164

40,465

100,000

.

Current Assets—
Cash

Cash— on depo.Mt

to

pay ooQi>ons

Bills receivable (3)

Aooounts receivable
Total

Due from Companies

in

168,370
377,013
827.850
849,500
88,726 10,996.883
7,675
179,338

27,573
1,088

37,783
1,088

2,765

407

2,018,372
158,135

5,433

1,494,577 12,000,777

31,425

39,278

1,992 2,279,591

8,592

9 04.2

9,944

........

200

1,992

300

2,542
6,500

'

thb System-

MetroDolitan Lines (41.
Third Ave. Lines (5) .....

.........

Total

920

5,182

3,543,109

617

169,360

516

3,544,029

5,799

169,360

516

20,733

13,950

200

Prepaid Accousts—
Insurance, traok rentals,

etc. (6) (7)

Total Assets

..

66,258

42,091

2,756

75,289,265 58,461,654 11,745.936 3,943,811 2,228,354 9,937,501 873,675 532,014 2,552,037 1,873,988

LIABILITIES.

Funded Debt

$

$

Capital Stock
(2)

Real Estate Moetoaoe

$
2,500.000 1,200,000

48,800,000 40,000,000

2,800,000 2,050,000

$

$

$

23,754,400 15,995,800

8. GOO

$

$

9

2,000,000 300,000 250,000 1,000,000

500,000

2,000,000 300,000 250,000 1,000.000

500,000

100,000

(1)

current Liabilities Bills

payable

Employee's deposits.
Cnclalnaed wages

Total

2,180,732 2,522,856 296,174

265

601,347 1,037,827
125
12,550
6,784
9,373

24,580

610,845 1,057,161

17.815
6,500

827.856
556,734

6,269,778
1,080
1,505

i.oss
2,501

1,156

547

468

1,585,706

1,385,740

6,272,910

1,292,568

921,684

16.926
514,837

54,539
585,409

19,536 2,423,709

15,282

4,904

60,416

89,710

921,684

531,763

639,947

20,508 2,723,258

15,282

4,904

60,416

89,710

110,042
268,562 '""isojoii
8,419
12,565

24,000
4S,043
10,092

26,875
22,921
2,467

1,421
3

41,667
26,853

5,000
2,555 "8,407

12,500
6,044
1,752

6,402
1,005

158,430

80,135

52,263

1,424

68,525

7,555

8,407

20,296

7,407

X 538.871

X 2,456

17,091

(3)

Coupons due and unpaid
Accounts payable

849.493
723,109
12,445

300
139,753 "6,i'93
10,274

660

660

4,057 2,180,732 2,673,843 302,367

Due to Companies in the System—
Metropolitan Lines (4)
Third Ave. Lines (5)

TotaL

1,292,563

972

304,550

AccRrED LiabilitiesTaxes (6)
Wages, etc.

(7).

....

Total

Profit and LossSurplus—Jane 30, 1903*

Total Liabilities

391,169
X 534,578

X Deficit.

(4)

of presenting the net assets and liabilities of
the Third Ave. Lin^ s as a whoie,|the following changes have been
in the "Total" colatna as compared with the aggregate of the
cross footings:

made

(2)

3)

X

280.291

75,289,265 58,461,654 11,745,936 3,943,811 2,228,354 9,937,501 873,675 532.014 2,552,037 1.873.988

Note.—For the purpose

il)

466,875 X51,528 X 5,877 X 139,520

There has been eliminated from the liability "Real Estate Mortgage," and from the asset "Real Estate Mortgage," a mortgage
of the Forty Second St. Manhattan ville & St. Nicholas Ave.
Ry. Oo. for $100,000 owned by the Third Ave. RR. Co.
There has been eliminated from the liability "Funded Debt," and
from the asset "Treasury Bonds," $100,000, par value, Second
Mortgage Bonds of the Forty-second St.lManhattanvllle & St.
Nicholas Ave. By. Co. owned by that company.
There ha'? been eliminated from the liability "Bills Payable," and
from the asset "Bills Receivable," $12,926,528 95 of bills, payable of companies of the Third Ave. Lines owned by other companies of the Third Ave. Lines.

(5)

(6)

There has been eliminated from the liability "Due to Companies
In the Sy8tem,"'and from the asset "Due from Companies in the
System," $6,101 98 due companies of the Third Ave. Lines by
companies of the Metropolitan Lines, to reduce the amount
due to oompanles of the Metropolitan Lines to a net balance.
There has been eliminated from the liability "Due to Companies
in the System," and from the asset "Due from Companies In the
System," $3,713,801 21, due by companies of the Third Ave.
Lines to other companies of the Third Ave. Lines.
There has been deducted from the liability "Taxes Accrued," and
from the asset "Insurance, Track Rentals, etc.. Prepaid," $2,100 taxes paid in advance to reduce the taxes accrued to a net
balance.

(7)

There has been eliminated from the liability "Wages, etc., Accrued" and from the asset "Insurance, Track Rentals, etc.,
Prepaid," $11,172 68, forsundrylexohanges between companies
of the Third Ave. Lines, to reduce the prepaid accounts to a net
balance.

:

:

THE CHRONICLE.

1234

[Vol, lxxvil

MILEAGE AND TRAFFIC

STATISTICS.
M1LE8 or Track Ownbd.
EUctrie.

Sorsc*

128-643
4-430

91-368

220-011
4-430

133-073

91-368

224 441

47-465
180-570

25-950

73-415
180-570

228035

25-950

253-985

361-108

•117-318

478*426

Fare.

Tranifer.

Total.

323,166,936
324,510

145,691,999

468,858.935
324,510

323,491.446

145,691.999

469.183.445

73,078.986
37,038,092

12.934,751
29,836,449

86.013,737
66,874,541

110,117,078

42,771,200

152,888,278

Total.

Metropolitan Lines.

Boroagn of Maohattan
Borough of Bronx and Westcbester Oonnty

-.

Third Arenue Linet^
Borough of Manhattan
Borough of Bronx ana Westchester County

.'.".".

Totals.

PA88ENOEK8 Carbied.

Metropolitan Linet—

Boroneh
Borough

of Manhattan
of Bronx and Westohester

County

Total

Third Aventte Line*—

Borough of Manhattao
........................................................
Borough of Bronx and Westchester County
Total
*

The Company

Includes mileage not operated.

Is still

using 4,749 horses in

Its

operation of the lines In the Borough of Manhattan.

METROPOI^ITAN LINES.
STATEMENT OF INCOME AND PROFIT AND LOSS-FOR THE YEAR ENDED JUNE
Metropoli- Interurban
Total.

Gross Earninqs from Operation

tan Street

Street

By. Oo.

Ry. Co.

Central
Oroist'wn

BR.

Oo.

30, 1903.

28lh A
29th St.

BR.

Oo.

suh

at.

Pulton

Street
Orossi'wn
BB. Oo.
By. Oo.

$
.

16,178,564

14,975,370

485.200

186,155

493,750

88,089

1,282,736
4,968,118
1,555,464

1,168,175
4.569,443
1,330,811

31,739
152,1S8
125,134

10,145
44,445
46,113

70,623
188,096
39,089

2,054
13,947
14,318

7,806,318

7,068,428

309,061

100,702

297,808

30,319

8,372,245

7,906,942

176,138

85,452

195,943

7,770

62,300
57.166
30,527
69,469
29,137

56,950
56.081
30,5^7

3,300
1,085

500

1,350

200

Operating Expenses—
Maintenance
Transportation
General (Including damages and legal expenseef
Total

Net Earnings from Operation

,

Income from Other Sources—
Advert itilng
Rent of Land and Buildings
Rent of tracks and terminals
Interest and dividends on securities owned

(2).

119409
35,027

746

248,599

297,994

5,131

500

1,350

200

8,620,844

8,204,936

181,270

85,952

197,293

7,970

7,627,201
160,000

7,565,301

75,000

50,000

20,000

..,,., ._...--.•••..«.....--..--..-. .........

952,791

888,344

61,900
15,000
6,636
30^308

12,650

19,822

1,668

Proportion of net income of Central Crosstown BR. Co. applicable to the minority stockholders (3)

11,305
8,751,297

8.453,645

113,844

87,650

69,822

21,668

X 130,452

X 248,709

67,426

X 1,697

127,471

X 13,697

Misoellaneoufl interest

(1)

Total.

Gross Income from all Sources.
Deductions from Income—
Rental of leased lines (including interest on the Metropolitan St.
Ry. Co.'s 4 Per Cent Refunding Bonds and the 7 Per Cent
Guar. Diva, on the Metropolitan St. Ry. Co.'s capital stook
Interest on funded debt
Interest on floating indebtedness
*

Taxes

.

.

Total.

Net Income—Surplus.
Additions to Suri-lus—
Adjustment of taxes— prior years
AdiuBtment of material and sui^plles- prior years
Old accounts collected, etc

332
4
724

Total Surplus.

182

1,548

13,516

1,697

13,697

724

Balances transferred to Interurban St. By. Co.— Oontra.

127,471
1.059

724

127,471

4

X 129,394

724

X 121,238

67,429

569,843
227,670

569,843

39.093
14,150
7,792
49,835

39,093
14,150
7,792
49,835

Total.

150
4

127,471

Deductions from Surplus—
Third Avenue Lines Profit and Loss

Operating Deficit— May 1, 1900. to March 31, 1902
Operating Deflcltr-Aprll 1, 1902, to June 30, 1903
Charges applicable to prior years

227,670

:

Taxes
Coal
Interest

Miscellaneous
Dividends (2) (3)
Balances trannferred to Interurban St. Ry. Co.— Contra
Minority stockholders' proportion of Central Crosstown RR.

60,000
127,471

15,063

Co.'s surplus applicable to prior periods (3)

1,284

909,668

680,713

242,733

60,000

X 1,039,061

Total.

1,

1902..

5,4b2,564

X 679,989
5,427,569

X 363,972

Surplus— July

27,339

7.429
7,657

Surplus -June

30, 1903.

4,423,503

4,747,579

X 336,633

15,086

Net Surplus

X Deficit.
*

(2)

Franchise taxes on appeal to United States Supreme Court not

inoladed.

Note.— For the purpose of presenting the net Income and profit and
loss of the Metropolitan Lines as a whole, the following changes have
been made in the " Total " column as compared with the aggregate of
the cross footings
(1)

There has been eliminated from the "Income from Other Sources
—Miscellaneous Interest," and from the " DeductiouH from Income-Interest on Floating Indebtedness," $6,636 06 due by
companies of the Metropolitan Lines to other companies of the
Metropolitan Lines.

127,471

There has been eliminated from "Income from Other SourcesInterest and Dividends on Securities Owned," ana from Deductions from Surplus— Dividends," $49,940 dividends paid by
companies of the Metropolitan Lines to other companies of the
Metropolitan Lines.

(3)

There has been deducted from the " Deductions from SurplusDividends" $10,060 00 paid minority stockholders of the Central CroBHtown RR. Co., and there has been Included In the
" Deductions from Income" the proportion of the net earnings
of the Central Crosstown RR. Co. applicable to the minority
stockholders, a difference of $1,245 06. There has also been
included In the "Deductions from Surplus" the proportion of
the Central Crosstown RR. Co.'s surplus July 1, 1902, appll
cable to the minority stockholders, viz., $1,284 34.

I

Oct.

THE CHRONICLE

17, 1903.]

THIRD ATENITE

1235

LINES.

STATEMENT OF INCOME AND PROFIT AND LOSS— FOR THE TEAR ENDED JUNE
42d Street Dry Dock
Manhat-

The 3d

BroadtanvUle dt S.xcay it
St. NichBattery

Avenue
RR. 00.

Total.

olas

A ve.

RR.

Ry. Oo.

Gross Earnimos from Operation

—

Ktnps-

bndge
Ry. uo.

Oo.

Ry. Oo.
of If. T.
CUy.

town
White South' n
Ptaintdl

$

RR. Oo.

vard
ilania
roneck RR. Oo.

Ry

9

Tonkert

Boule-

Weatche»ter
Kiectrie
RR. Oo.

Oo.

9

$

$

9

2,199,319

796,521

560,894

51.441 1,135.054

72,745

66,718

260.062

238,228

304,158
675,793
190,642

67,731
319.255
88,747

48,028
179.571
208,000

4.339
29,968
153

121,180
537.250
161.946

8,212
61.165
6,966

7.701
35,959

. . -

626,459
2,229,144
727,lb8

921

25,819
171,910
45.914

39,342
218,273
23,899

..-•

3,582,791

1,170,594

475,733

435.599

34,459

820,326

76,343

44,581

243,643

281.514

1,788,191

1,028,726

320,788

125,295

16,982

314,729 X 3,598

12,137

16,419

X 43,286

19,862
23.102
52,864
228,982

13,333
15.325
20,767
712,913

2,000
5,157
29,848

1,667
2,180
2,252

324,809

762,339

37,001

6,098

2,113,000

1,791,064

367,739

131,398

2,027,000

1,650,000

102,500

227,685

96.538

72,000
5,000
301.665
43,481

TranBportatlon
General (inc. damages & legal exp.)

Net Earnings from Operation
Income from other Sources—
Advertising
....
Rpnt of land and biiildlnfiTB.
Rent of traohs and terminals
Mlsoellaneous Interest (1)... ..........
Total

Gross Income from all Sottrces

$

Tarry-

Union

5,370,982

OPERATrso Expenses—

Total

$

30, 1903.

...

175
440

188

2,500
2,028

188

4,528

16,982

46

186

661

185

319,257 X 3,411

12,137

17,080

X 43,102

100,000

15,000

12,500

50,000

25,000

161,268
31,653
2,028

156

277

611

2,193

5.606

13,395

1,622
10,516

46

185

294,949

17,349

Deductions from Income—
Interest on funded debt
.
.
Interest on real estate mortgages (1).
Intert<(<t

on

tloatlng indebtedness (1)

JTaxes
Misoellaneous Interest

13,433
22,582

1,721

(1)

2,254,685

Total

Net Income— Surplus...

1,746,538

422,146

44,526

X 64,356

X 141,684

138,515
X 7,122

1,721

15,261

64,052

37,222

X 46,972

X 80,324

18,382

24,308 X20,760 X 6,245

Additions to Surplus—
Rent of property.
....
Taxes (2)
Damages.
....................

2,500
21,426
3,750

2,500
2,852
3,750

Contract account.....................
Coupon account ...................

333

333

Accounts pay able... ...... ...........

1,990

Insoranoe
Miscellaneons Items.

5,369

19,302

8

8

5

1,740

1

224

1

8

................

Unolalmed wages

18

572

572

8

991

114

24

853

to May 1, 1900, transferred to "Property & Franchise" account, as the
road haK bi-en leased to the Metro
politan St. Ry. Co.:

Tbtrd Ave. RR. Co
Controlled companies
Metropolitan St. Ry.— Operating

416,788
234,295

416,788
234,295

451,404

451,404

45,826

45.826

Total

1,179,890

1,148,314

0,443

Total Surplus.

1,038,206

1,192,840

X 54,914

.

defi-

May

to March 31, 1902.
Ry.— Operating deflolt,
AprU 1,1 902, to June 30, 1903

1, 1900,
Internrban St.
cit,

577

21,894
X 7.122

15,261

232

5,501

46,740

X 74,823

25

46,202 X20.183 X 6,220

X

Deductions from SurplusAdiustm'tfl appl Icable to prior periods:
Employee's deposits
Material and supplies

Badges and buttons
Taxes (2)
Interest

.... ..........

......

.

...

Total

1,

876

29

83,029

9,998

250

438

2,581

2,516
6,096

Coal
.
Miscellaneous .
.
.
Restrve for controlled companies

Net Surplus
Surplus— July

905
95,607
3,204

1902

2,259
56.453
79,225
234,295

234,295

471,948

318,450

10,465

8,677

566,258
Xl,100.836

874.390
X 874,380

X 65,378

X 15,799

X 473,493
X 538,871

X 534.578

X Deficit
§ Franchise taxes on appeal to United States Supreme Court not

(1)

Included.

Note.— For the purpose of presenting the.net income and profit
and loss of the Third Ave Lines as a whole, the following chauRes
have been made in the "Total" column as compared with the aggregate of the cross footings.

(2)

2,028
5,698
67,864

9,161

78,106

9,161

46

185

17,090

24, .504

11,361

17,137

X 31,903 X29..S44 X 6,220

13,343

15,261
1,830

X 2,456

17,091

466,875 X51,528 X 5,877 X

498,778 X22,184

343

36,050

X 63,876 X 110,873
X 75,643 X 169,418
1.S9

520 X 280.291

There has been eliminated from "Income from other Sources'
and "Deductions from Income" $486,190 28, interest payments
made by Companies of the Third Ave. Lines to other Companies
of the Third Ave. Lines
There has been eliminated from "Additions to Surplus" and "Deductions from Surplus" $6,096 47, adjustment of taxes of prior
years to show under additions to surplus the net amount of the
tax artjustment.

WISCONSIN CENTRAL RAILWAY COMPANY.
FOURTH ANNUAL REPORT— FOR THE FISCAL YEAR ENDED JUNE
To

the Stockholders of the

Wisconsin Central

Ry

Co.:

Your Directors submit the following report of the opera_
tions of the Company for the year ending June 30, 1903:
GROSS EARNINGS.
From Freight
From Passengers
From Mail, Express and MlsceUaneous

$5,024,477 45
1,359,570 18
267.815 11

_
_, Total..
$6,651,862 74
Op«ratlngExDeii8e8(63 23%of theQross Earnings).... 4,205,993 48

^*™*°*^^
r^.w^®i
Other Income
Total..

,

$2,445,869 26
37,320 14

Accrued Taxes

40
.$2,483,189
*

Balance

$2,248,898 57

.

Brought forward
Accrued Rentals
Accrued Interest on Bonds

30,

1903.

%2,348,8<)8 S7

$392.433 92
1,132,390 69
1,524,824 61

Total Fixed Charges

Surplus
Surplus brought forward from last year

$724,073 96
632,049 41

$1,356,123 37
Total Surplus June 30th, 1903
Appropriated by Board of Directors for improvements.. $424,638 51
Appropriated by Board of Directors In part payment of
138,458 84
the cost of new equipment
M. & 8. E. Dlv. 1st M. Bonds Sink. Fund, provided for In
10,543 63
Art. IL, Sec. 2 of Mort. dated May 1 1901
Reserved to retire $60,000 Series A Equip. Trust Bonds,
60,000 00
maturing July 1, 1903
4,859 78
Appropriated for pur. of $5,000 Ser. J Equip. Tr. Bonds.
.

234,290 83

"$638,500 76
Learlng a Net Surplus to be carried forward

$717,622 61

THE CHRONICLE.

1-236
MILES OF ROAD.
mUes

of road Id operation at olose ot fiscal year was
97704
The average mileftge operated during the year -was
97704
And the statistics ol this report are based on such average mileage.

Total

(The change of a fraction of a mile from the mileage reported at the close of the previous fiscal year is due to
change in the approach to the ore dock at Ashland.)

[Vol, lxxvii.

The increase in Passenger Earnings of 192,210 60 following
an increase of $88,596 74 for the previous year is gratifying
The operating expenses for the two years divide as follows

„
„
,
Malntenanoe
of Way
.

There have been co changes during the

$

Total.

tion

General Expenses

The following changes have occurred during the year
The Trustees of the Sinking Fund under the mortgage
:

Total

of

the Wisconsin Central Railroad Company dated January 1,
A. D 1879, expended during the year $r,'6.39l 99 in the purchase and retirement of 118 First Series Mortgage Bonds of
the Wisconsin Central Railroad Company, 116 of which
were sold to said Sinking Fund Trust-es by the Trustees of
the First General Mortgage of this Company, at its request.

age of
Total

$

763,096 97

18-14

781,674 14

2013

721,61543

17-16

609,596 65

1570

.2,459,09774
262,183 34

58-<7
6-23

2,253,947 27
238,155 54

58-04

Conducting Transporta-

FONDED DEBT.

Percent-

1902.

Equip-

of

ment

fiscal year.

Percev tage of

and

Structures

Maintenance

CAPITAL STOCK.

1908.

4,205,993 48

613

100 00 3.883,373 60 10000

The increased

cost of labor and coal is responsible for a
large part of the increase in expenses.
During the year 7,215 tons of new steel rails (85 pounds to
the yard) were laid. The cost of these rails, together with
the cost of the fastenings, less the value of the rails and
fastenings released, and including the cost of handling and
laying, was, as usual, charged to Operating Expenses 4,975
tons of rails were released by the laying of the above rails.
The Renewal Reserve Fund at the end of the year amounted
to $81,514 67, all of which has been heretofore charget?. to
Operating. $31,475 08 was so charged during the year.

The amoimt received ^rom the Sinking Fund Trustees
for said llSbondswas applied to thepurchase in open
market of First General Mortgage Bonds of this Company to the amount of
$136,000 00
This, and similar previous transactions, have together
effected the retirement and cancellation of .said First GenCredit to Equip. Renewal Fund at beginning of year
$128,250 43
eral Mortgage Bonds, to the total amount of $"92,000.
The value of equipment destroyed during the year charged
On July Ist, 1902, the Company issued Its 5% Oold Trust
to repairs and credited to this Fund was
44,428 27
Equip. Bonds to amount of (as provided In Equip. Trust
Agreement referred to on page 8 of last annual report).. $600,000 00
Making a total credit to the Fund of
$172,678 70
Of these have been purchased and retired during year
5,000 00 Cost of equipment rebuilt during the year,
12,033 00
Leaving outstanding at the end of the year
$595,000 00
of the Smklng Fund under the mortgage
seourlnc londs issued In payment of the purchase price
of the Marsh. & South. RR. resulted in the cancellation
of SiUd Purchase Money Mort'ge Bonds to the extent of.
$6,000 00
The total amount of First Gen. Mort. Bonds now available
for Improvements pursuant of Section 4 of Article I. of
the Firrt General Mortgage, but not drawn, Is
. 116,600 00
There is also due the Company from the Trustees of the
First General Mortgage, pursuant of Section 3 of Aitlole
I., fractional amounts ol said bonds, ag'.;re«atlDg
600 00
Total of said bonds, therefore, due but not dra-sTi bv the
Company is
117,200 00
In addition to the last mentioned amount, the Trustees
hold under Sec. 3 of Art. I, of the First Gen. Mort. of this
Company, $2,242,800 of First Gen. Mort. Bonds, which are
applicable primarily, under Sec. 3, to the letirement of
underlying bonds, at or prior to maturity any residue thereof not sj needed being subject to be drawn by the Company
for improvements, equipment, etc., as provided in Sec. 4 of
said Art. I.

The operation

,

LAND DEPARTMENT.
Tables on page 25 of pamphlet record the transactions of
the Land Department for the year. From these it appears that the total quantity of land sold amounted to
13,081-26 acres for
$78,'206 49
The average price per acre being
$5 98
The sale or town lots and stumpage amounted to
$130,754 93
The royalties accrued during the year from iron ore mined
from the Company's lands amount to
$104,686 76
Gross cash receipts from lands, lots, stumpage. royalties,'
def. payments. Int. on def. payments, rents, etc., were.. $283,838 45
Expenses of the Land Department, including taxes and
cost of caring for the property, were
$91,908 97
Number of acres remaining in grant on 30th of June, 1903 460,020 21
Number of acres under contract of sale
44,49905

Number

Leaving a balance in the Equipment
the olose of the tiscal year of

Renewal Fund at
$160,645 70

IMPROVEMENTS.
Charges to Improvement Acct. during year amounted to -$485,273 27

This was provided for as follows:

Prom proceeds of

First General

Mortgage Bonds

FromSurplus

$60,634 76
424,638 51

The improvement work projected has been restricted by
the scarcity of labor.
Among the important improvement works undertaken
during the year was the rebuilding of the ore dock at Ashland, which was destroyed by fire in November, 1902. The
new dock is much larger than the old one, the increase in
storage capac'ty being about 10,000 tons. The dock was
built ten feet higher than the old dock to accommodate the
larger class of vessel ^ which is now in use. It is equipped
throughout with latest appliances for protection a.'ainst fire,
including a sprinkler system, which has been installed at a
cost of upwards of $12,000. The estimated cost of the new
is $350,000, of which about $165,000 will be charged
Improvement .\ccount. The amount so charged during
the year was $151,956 82. The dock was ready for operation

dock
to

at the opening of navigation this year.
Details of Improvement Account on page 19 of pamphlet.

EQUIPMENT.

The equipment

referred to in the last annual report as
having been contracted for during the previous year was all
delivered during the last fiscal year, and comprised
10 Passenger locomotives; 300 box cars; 100 stock cars, 25
Refrigerator cars; 3 Railway Post Office cars; 5 First Class
passenger coaches; 2 Chair cars; 4 Composite cars; 2 Baggage
car.°; 1 Sixty- ton wrecking crane; 3 Single mast wrecking
cranes. The total cost of this equipment, together with the
cost of ten locomotives previously purchased, was $738,458 84,
of which $138,458 84 was paid in cash from Surplus Funds.
Funds for the remaining $600,000 were raised by the sale
of Equipment Trust Bonds issued to that amount, bearing
interest at 5 per cent per annum, payable semi-annualljy^.
per annum is to be paid on the principal, which will
160,0'
extinguish the debt in ten years from the date of the Trust
:

of acres imsold

415,521-16

LAND GRANT SINKING FUND.
Cash balance July

1,

1902

$158 18
208,200 00
670 67

Paid 81r.klng Fund Trustees during year
Intereston deposits during year
Total

$209,028 85
1,750 00

Expense of administering Trust during year
Balance

$207,278 85
126,291 99

Amount invested by Trustees
Balance on band

$£0,986 86

COMPARISON OF EARNIN^GS AND EXPENSES OP THE YEARS
Agreement.
ENDING JUNE 30TH, 1902 AND 1903,
Increase In earnlnurs on General Freight
Decrease In earnings on Iron Ore

$564,294 92
48,694 40

Fourteen additional locomotives purchased during the year
will be delivered in September, 1903.

Net Increase in freight earnings
Increase in Passenger eamings
Increase in Mail, Express and Miscellaneous eamings

$515,600 52
92,210 60

Total Increase In Gross Earnings (10 10 per cent)
Increase In Expenses (8 31 per cent)
Increase In Net Earnings (13 33 per cent)
Increase In Taxes.
Increasf in Rentals
Increase in Interest on Bonds

$610,392
$322,619
287,772
15,797
16,070

INDUSTRFAL DEVELOPMENT.
tributary to the Company's lines is being
and new industries are constantly being

2,58146
58
88

70
65
05
18,601 26
The increase of $110, .569 52 in iron ore earnings for the
previous year was followed by a decrease of .$48,694 40 this
year and the prospects for the fiscal year beginning July 1st,
1903, are not bright.
The increase in general freight earnings, however, ia very satisfactory, and while it cannot be
expected that the increases of the past two years can be
maintained, it is hoped that the results for the current fiscal
year will be fully equal to those of la.st year. The crop pros
pects in territory tributary to the Company's lines are fair.
The commodities carried during the year as compared
with previous year show increases or decreases as follows
.

:

Incrtute,

Products of
Products of
Products of
Piolucts of

Agriculture

Anlmala

Mines.
Forest
.Manufactures

Other commodities

tons 161,307
"
"
.
"
81,918
"
9,423
"
76,104

Decrease.

6.179
11,179

The

territory

rapidly settled
planted. The extent of this development is entirely satisfactory and promises to continue at a considerable rate for

some time to come.
Every effort is being made by our Land and Industrial
Department to further this settlement and development.
The sales of this Company's lands are not being pushed to
the same degree for the reason that only lands containing no
merchantable timber are offered for sale, and then only to
actual settlers. The timber on the Company's land^grant is
being held for manufacturers and only sold on contracts
providing for the manufacture within a given number of
years, the product to be shipped over this Company's lines.
statements and statistics relating to the business of the
Company, as well as a balance sheet showing the condition
of the

Company

tached

fin

at the end of the year will b=) found atpamphlet). Reference is made to these for more
particular information.
By order of the Board of Directors,

H. F.

Milwaukee, September

WHITCOMB,

16th, 1903.

President.

:

Oct.

THE CHRONICLE.

17. 1903.]

1-237

GULF & SHIP ISLAND RAILROAD COMPANY.
ANNUAL REPORT

FOR

THE

2o the Stockholder^ and Bondholders of the Oulf d- Ship
Isla-ui Railrcad Company:
Throughout the fiscal year ended June 30. 1903, prosperity
continu^ undiminished. Indeed, by reason of the satisfactory imiustnal conditions prevailing in Southern Mississippi, the gi-oss earnings of tbe Comt-any increased 24 per
cent over those of the irevious year.
Toe production a d shipment of lumber are steadily increasing, and estimates justify the belief that this increase
will continue for at least ten years, and that twenty-five
During the p<styear four
{rears will not exhaust the supply:
arge sawmills, with a capacity of from 150,000 to 200,000 feet
each per da)', hive been located. Ten or more of ihe smaller
mills have improved and bettered their plants, increasing
the production on the whole line from 30 to 40 per cent over
Tbe mills are all in good shape finlast year's movement.
ancially; they find a ready market for their outji^t, both in
the interior »nd for expon. through Qulfport. In all 128
sawmills are in operation on our line, and this number is
being added to co stantly.
The acreage of lauds under cultivation along the line is
fully 25 per cent greater this year than formerly. As the
land is cleared of timber, it is being planted with cotton,
corn, sugar cane and fruit. The development of the cleared
lands and the industries that spring i\p as the timber is cut
are extremeh' gratifying. The produoion and movement of
cotton continue satisfactory. The acreage has increased 25
per cent or more. The crop, while late, is in excellent condition, and the yield will be larger than ever before in our
territory. Numerous improved cotton gins have been erecttttiesburg has pured, and the Compress Company at
chased a new and up-to-date press. Another compress is
soon to be erected at Columbia.
Nearly every mile traversed by the road is well adapted to
the production of peaches and cantaloupes of superior quality.
The melons, strawberries and other fruit raised in this
section are well adapted to shipping. In flavor the peaches
are in every way equal to those produced in Georgia. Two
nurseries have been located, as well as two commercial
peach orchards of at least forty acres eacb.
The merchants and farmers in five or six of our towns subscribed last spring the necessary funds to establish canning
factories, and at Collins a cannery is in operation and is
proving a decided success. Dividends of 15 to 20 per cent
are assured the stockholders, and the farmers, who cultivated in all less than 10 > acres of tomatoes for this cannery.
realized from $40 to $60 per acre. There is every prospect
that by next year three new factories will be in operation
canning tomatoes, peaches, pears, cane syrup, etc.

H

GULFPORT HARBOR.
The channel from Ship Island Harbor to the pier at Gulfport has been completed, and steamers are going out loaded
to a depth of 23 feet. There is every reason to expect that
the anchorage basin will have been completed by Jan. 1,
1904.
The United States Coast and Geodetic Survey has
issued corrected chart No. 190, conspicuously showing Gulfport anchorage basin and channel. Our f tcilities have been
well advertised, and have been taken advantage of by the
most prominent lumber exporters in this territory.
The following list, showing the class of vessels handled,
for two years, will be of interest
Vessels Loaded at Gulfporx Fiscal Yeahs 1902 and 1903.
lear Eidcd
No. Vetsels Registered
No. Feei
Bstimaled
Juna 30.
Loaded.
Tonnage.
i, umber.
Value.
1902
21
10,567
13.044,237
$156,000
1903
56
55,409
47,232,765
846,000
Class of Vessels.
Tear Eided
Steam- Sailing
SihoonTotal
JuneSO.
$/iips.
erx.
sMps.
Barks.
Yesnels.
Tonnage.
1902
1
2
18
21
10,567
1903
20
4
10
22
56
56,429
steady increase in the commerce of the port and in the
number of vessels seeking our docks with imports and for
exports is assured
The importation of fruits, sisal grass,
mahogany and other commodities will tax our present

A

YEAR

ENDED

JUNE

backed with abundant

30,

capital,

At Gulf port a large hotel, capable of accommodating 450
or more guests, elegantly finished and comfortably furnished, absolutely up to date, has recently been completed.
It
fronts the seashore near our pier, and is surrounded by
spacious and handsome grounds.
A commodious power
plant

- the handsomest in the State, if not in the South.
combining steam heating, electric light and power, ice and
laundry plant, and furnishing refrigeratioa to the hotel— is

another useful addition to the place.
Twenty-two large brick stores, with offices overhead, to
gether with two imposing and attractive banking houses,
tell a part of the story of improvements in the business portion of the town. Numerous residences have also been
erected. The county seat has been moved from Mississippi
City to Gulfport, and a handsome court-house, to cost $40,000, is nearly completed.
Four large wholesale warehouses,

are

now

in the course of

construction.

Just oeyond the corporate limits, the plant of the Gulfport
Cotton Oil, Fertilizer & Manufacturing Company is being
erected. This concern Is being capitalized at $250,000, and
at least that amount of money will be devoted to the business. The plant will be very complete, not only manufacturing il from the cotton seed, but refining the crude oil, and
making all of the finished products, such as cottolene, lard,
soap, etc. Arrangements have been made to import direct
from Spain, through Gulfport, all of -the iron pyrites to be
used in manufacturing acids. The phosphates used will be
brought direct from Florida. The plane of this Company
will employ about 250 men.
<

SILVER CREEK BRANCH.
Since the last report the Silver Creek Branch, from Mendenhall, onthe main line, about 32 miles south of Jackson,
to Columbia, the present northern terminus of the Columbia
Branch, has been projected, and considerable work has been
done thereon. The line has been surveyed, the right of way
as far south as Silver Creek has been obtained, the roadbed
has been graded for 18 miles, and 13 miles of steel have been
Trains are running and freight is being delivered as
laid.
far as Strong River, 10^ miles south of Mendenhall, and
the telegraph line is also in operation for this distance. The
purpose in building this branch is to secure all of the cotton
on the east side of Pearl River, and in the Silver Creek and
Haliday Creek bottoms, which are exceedingly fertile and
are considered by many the beet cotton lands in the State
outside of the Yazoo Delta. This branch will connect at
Leaf Rivers Railroad. The
Silver Creek with the Pearl
extension of the branch south to Columbia will give us a
second route from Mendenhall to Maxie, enabling us to
handle all of the business of the Columbia Branch going
north without being compelled to haul it south to Maxie

&

and thence north through Hattiesburg,

MILEAGE OWNED AND OPERATED.
June
Gulfport, MIsB., to Jackson, Miss

Maxie, Miss., to Columbia, Miss
Saratoga, Miss., to Laurel, Miss
Total

25

June 30

30,

1903.
160-50
48'75
41-75

160-50
48'75
41-75

25100

25100

1902.

Average number of miles operated both in 1902 and 1903,
1. Gauge, 4 ft. 8J^ in.; rails, steel, 56, 60, 65 and 75 pounds.
INCOME.

The gross earnings, operating expenses and taxes, fixed
charges, etc., of the year, in comparison with the previous
year, were as follows;
$1,705,047
1,079,618

1902.
$1,374,684
940,514

$625,429

$434,170

1903.

Gross Earnings
Operating Expenses and Taxes

Net Earnings
Other Income
Total Net
Interest

3,719

.

Income

Balance Applicable to Dividends
Dividends
Surplus

$629,148
195,430

$434,170
175,311

$433,718
100,000

$258,859

$333,718

$258,859

Percentage of Operating Expenses and Taxes
to Earnings

The Company's funded debt on June

63"32

68-42

including all
bonds at that time due to be issued on account of construction done, amounted to $4,629,877.
On this sum the annual
interest charge is $231,494.
This amount is equivalent to
86-80 per cent of the net income applicable to interest in
the fiscal year 1903.
Gross earnings, operating expenses, including taxes, and
net earnings per mile of road, for the last two years, have
30, 1903,

been as follows:

facilities.

IMPROVEMENTS AT GULFPORT.

1903.

GrossEamings
Operating Expenses and Taxes

NetEarnings

^

1902.

Jnereaie.

1903.
$6,793
4,301

$5,477
3,747

$1,316

$2,492

$1,730

$762

554

The Company's funded debt as it was constituted on June
The annual
30, 1903, amounted to $18,446 per mile of road.
interest charge per mile of road on the funded debt amounts
to $922, as against net income available for interest amounting to $2,506 per mile in 1903 and $1,730 per mile in 1902.
Out of the Profit and Loss surplus of $333,718, the sum of
$95,650 was added to the interest reserve fund mentioned below, $12,559 was reserved for various purposes, and the remainder, $325,509, was used for construction not provided
for by the bond issue.

CAPITAL STOCK.
The authorized capital stock of the Company is $5,000,000
(50,000 shares, par $100) , all of which is outstanding.

.

THE CHRONICLE.

1238
FUNDED DEBT.

As shown by the Condensed Balance Sheet, the Company's
funded debt was increased withia the year $1,520,000, from
This increase was due to the issue
$3,087,000 to $4,607,000.
of additional First Refunding and Termiaal Five Per Cent
Gold Mortgage Bonds on account of additions and betterments in 1903 and 1903, as follows:
Under Section 3 of the Mortgage, In payment for work on
docks and wharrea and dredging channel and basin at
Gulfport
$467,000
Under Section 4 of the Mortgage, in payment for rails and
Improvements of ri>adway
303,000
Also, S8 ilnly authorized uut'.er Section 4 of the Mortgage,
for the porposes meoltoned In Section 3
260,000
Under Section 5 of the Mortgage, In payment for addi000,000
tional engines and cart
$1,520,003

Total

The total authorized issue of bonds under the First Refunding and Termiaal Mortgage is S"), 000, 000, The arjuount
of tht» bonds remaining to be issued on June 30, 1903, was
$393,000, all under Section 4, for roadway betterments.
COST OF ROAD AND EQUIPMENT.
The general balance sheet shows an increase within the

TOL. LXXVII.

in 1902 to 70,880,918 in 1903, a gain of 13,567,107, or 23-67
per cent.
Earnings from freight amounted to $5,334 per mile of road,
as against $4,349 the previous year, and earnings from passengers to $1,269 per mile of road, as compared with $1,009
the year before.
Freight earnings averaged 1*889 cents per ton per mile, as
compared with 1*905 cents in 1903, and passenger earnings
averaged 2-849 cents per passenger per mile, as against 2"575
cents the previous year.
In the fiscal year 1903 ths Company delivered to its connections and to the Gulfport Pier 33,889 loaded cars, as
against 31,614 l aded cars in 1902, the increase being 2,375
cars, or 7 20 per cent; and likewise in 1903 the Company received from its connections 15,256 loaded cars, as compared
with 14,592 loaded cars in 1902, an increase of 664 cars, or
4 "55 per cent.

MAINTENANCE OF WAY AND STRUCTURES.
Roadway, bridges and structures were fully maintained
out of earnings. The outlays for maintenance of way and
structures charged to operating expenses amounted to $1,089
per mile of road, PS against $1,145 per mile in 1902. The
roadbed of the entire line has been greatly improved, cuts
and fills have been widened, and grades reduc<'d, and a great
part of the track has been ballasted to standard. Good
progress has been made in laying heavy rails and we hope to
complete the remainder of the line this fall. Two of four
new steel bridges have been erected and tbe other two should
be completed in thirty days. The Company is O'cnpying
its large and handsome general office building of brick and
cement at Gulfport. The Gulfport car shops have been enlarged and improved and much new and up-to-date machinery has been added. The Hattiesburg shops, roundhouse
and water station have been completed.

year 1903 of $1,595,366 in co t of road and equipmentOf the funds to provide for these expenditures the sum of
$1,180,766 was derived from the sale of bonds issned on account of the construction work of the year, as already explained, and the remainder, $414,600, together with $1,974
received for property disposed of, was drawn from the Company's surplus income and other assets. The distribution of
the money thus put into additions atd improvements from
the general resources of the Company, over and above the
proceeds of bonds sold, was as follows: Expended for side
tracks, f hops, station and miscellaneous buildings, and other
roadway imp'ovemeots, $145,791; for additional equipment,
MAINTENANCE OF EQUtPVIENT.
Dredg
$l,fc25; for Gulfport hnrbor construction, $268,958.
ing the channel and part of the anchorage basia to a depth
The amounts charged to operating expenses for mainof ^4 feet, instead of 19 feet, as originally intended, was tenance of equipment averaged $2,641 per locomotive, $1,155
found to be necessary in order that deep-draft vessels might per passenger car and $79 per freight car. The equipment
receive and discharge their cargoes at the pier. This ex- was never in so good condition as at present. The Company
fiscal

penditure alone constituted the item of $268,958 as above.

INTEREST RESERVE FUND.

The annual report last year stated that out of the surplus
of $276,775 on June 30, 1902, a reserve of 5 per cent of tbe
funded debt, amounting to $15l,3i0, would be set aside as a
guaranty fund for the payment of interest for the ensuing year
on the outstanding bonds of th°> Company. This fuod has
been set apart, as proposed, and $95,650 has been added to it
fro n the surplus income of 1903, mak ng the tot^l aoiount of
the fund at June 30, 1903, $J50,000, or the equivalent of 5 per
cent on the total authorized issue o' $5,000,000 of First Refunding and Terminal Mortgage Bonds.

RENEWAL RESERVE FUNDS.
The amount of these funds on June 30, 1902, was $44,667,
which was increased, by charges to operating and other accounts, to $151,117. During the year renewals of roadway
and equipment costing $60,413 were charged to these funds,
leaving a balance to their credit at June 30, 1903, of $90,704
EARNINGS.

completed at its own shops 400 flat cars, 50 gondola or
coal cars and 50 large box cars, each 40 feet in length and of
80,000 pounds capacity.
have received this year six 10 wheel 70-ton locomotives,
built by the American Locomotive Company. They are
high-class engines and are doing efficient work.

We

TRANSPORTATION RESULTS.
The work of the transportation department shows extremeWhile the number of revenue tons
ly satisfactory results.
of freight carried one mile increased 23*67 per cent, as compared with 1903, the revenue freight train mileage decreased
1*97 per cent.
The average revenue freight train-load
increased from 164*18 tons to 20711 tons, and the average
loaded revenue freight car-load rose from 14* i8 tons to 15 91
The average number of cars per trdin advanced from
tons.
16f)9 in 1902 to 18*38 in 1903.
Freight earnings per freight train mile averaged $3 91
1903, as against *3 13 the previous year, and passenger train
earnings per train mile averaged $1 01, as compared with 84
cents the year before.

m

GENERAL REMARKS.

The earnings

of the road have steadily increased, and we
are equipped to handle all local business, including exports
through Gulfport. Gains in both freight and passenger revenue occurred in 1903, as compared with 1902, as well as in
1902 over 190
Of the increase of $330,363 in total earnings in 1903,
$247,263 accrued in the freight department and $71,629 in
1

the passenger department, the remainder being derived
from miscellaneous sources. Freight department receipts
increased 23 per cent and paesenger department receipts 25
per cent. In )902 the number of passengers carried one mile
was 9,837.143, and in 1903 it was 11,186 251, the increase of
1.349,108 being 13-7i per cent. Similarly the nuaaber of tons
of revenue freight carried one mile increased from 57,313,811

The report of the Auditor, presenting detailed statements
of financial condition, earnings, expenses, tonnage, miscellaneous statistics, etc., will be found worthv of your attenThe books and acco ants have been audited by Certition.
fied Public Accountants, and their certificate is presented
herewith.

The Board desires to acknowledge its obligation to the
and employees for their faithful co-oper ition, to
which the success of the past year is due.
officers

By

order of the Board,
J. T.

Gulfport, Miss

,

Oct.

1,

JONES,
President.

19C3,

COMPARATIVE CONDENSED BALANCE SHEET.
June

A .SSETS—
Cost of road and equipment
Materials and eupplles

Cash
Cash
Cash

180,225 65
8*2,767 21
25,240 22
115,479 15

In hands of Treasurer..
In transit

nnancial agents
from agents and conductors
•with

Due
Due from

V. S

Government

30, 1903.

$10,139,07.5 50

.

P. O.

.

21,11161

J^i

e 30,

1

902.

$8,543,709 85
127,717 53
88,1.30

76

23,494 80
64,302 21
12,377 68

De-

partment
Accounts receivable
BlUs receivable.

Unexpired Insurance
Unexpired llceose tax..
Accrued income
Aniouirt due Company at settlement of
claims in litigation
Truftees of Invested reserve fond (per
contra

2,64584
67,857 51
2,472 20
7,.'i42 35
1,039 60
8,587 20

2,62507
363,33158
1.800 00
4,842 75
1,0.'^3 32
1,707 00

LIABILITIES—

Bonds due for construction
Tru.teeaof Ist Kefund'g&Term. Mtge.
Drafts in transit

Unpaid payrolls
Interest on bonds, due and unpaid
Vouchers and accounts payable
Car trust notes
Aooruedtaxes
Dividend No. 2, due July 15. 1903
Reserve for loss In realization of current assets

Beservp for estimated liabilities, not
Anally determined
Reserve for malnt'ce of sundry assets.
Invested reserve lund (per contra)

14,825 50

.

250,000 00

Total liabilities
Surplus.
Total Assets

June 30,1903. June 30. li*02.
$5,000,000 00 $.5,000,000 00
4,607,000 00
3,087,000 00
362,11034
22,876 58

Capital stock
Funded debt

$10,918,869 54

$9,235,072 65

Total Liabilities and Surplus

.

3,265 36
847 13
74,712 64
115,479 15
289,4^2 12
3,382 17

10,00000
50,00000

95116
73,440
64,302
287,777
9,139
8,135

48
21

75
82
60

7,98640

71540

45,199 93
90,704 29
250,000 00

20,058 66
44,666 60
154,350 00

$10,570,935 77
347,933 77

$9,112,648 03
122,424 53

$10,918,869 54

$9,235,072 65

—
Oct.

THE CHRONICLE.

17, 1903.]

INCOME ACCOUNT FOR TWO YEARS ENDED JUNE
GROSS Eabninos-

$1.338.8t>llO ^l.-^OLSg? 67
257,92122
324.003 35
10.360 62
10,53370
12,604 77
18,178 52
1,999 94
13,470 37

/.

Total gross earnings .fl,70?.047 01 $1,374.684 22

/.

Freight

Passenger
MaU...:
Express

MUoeUaneous

Operating Exi'ensks—
Maintenance of way and

30.

Inc. or Dee.

1»0?.

lat^^S-

$247,263 43
/. 60,082 13
I). 26 92
7.5,373 75
7.11,470 43
*330,362 82

$287,452 44
162,923 37
424,190 8:{
47,262 21

Total oper. expenses. $1,051, 687 46
'^~
^"^
'^^^ 65
27,930
Taxes

J21.828 88
18,6S5 40

/.

$129,858 58
I. 9,245 1:5

Total operating exp.
$1,079,618 11
and taxes

$940,514 28

/.

$139,103 83

$134,169 94

7.

$191,253 99
7.3,718 84

Malnieu'oe ofeq'itpment.
Coniluct'g transportation

General expenses

Net earns, from opera'ns. $625,128 9:5
3,718 84
Income from oth. sources
Total avallle Income.

$629,147 77

$ i:$4, 169 94

$194,071 95
292 08
1,066 02

$169,145 03
1,858 72
4,307 65

$26,576
/. 45,399
A. 91,306
I. 19,729

J).

/.

62
58
54
08

$194,977 83

Dkdcctioxs—
Interest on funded debt.
Int. on car trust notes...
Otlier Interest

1903.

Freight Traffic- (Concluded)
Average earnings per ton
Average earnings per ton per mile (ots.).
Revenue freight train mileage
Freight earnings per revenue freight

$24,926 87
1,566 64
D. 3,241 63

I.

/).

1902.

$1*265

train mile

Average number of revenue tons per
train mile

Fnlght oar mileage

$1-207

1-889

1-905

342,224

349.099

$391224

$3-12690

207-11
6,291.214

164*18
5,790,392
69-80
30-ZO

Loaded freight car mileage, per cent

7081

Empty

$260,875 82
208,322 95
513, 197 37
66.991 32

struitures

1239

frelKht car mileage, per cent. ....
Average number of oars per train mile..
Average numl)er of revenue tons of
freight per loaded car mile

29-19
18-38

1659

1418

15-91

PA88KNOEH Te\FFU —

Total earnings frciu passengers (not IncludlDg excess baggage)
$318,737 93
Per cent ot total earnings
18 69
Number of passengers carried.
420,547
Number of passengers carried 1 mile
11,186,251
Number or passengers carried 1 mile
permlleofroad
44,566
Average distance in miles each passen2660
ger carried
Passenger earnings per mile of road
$1,269 87
passenger
Average earnings from each
75-791
(cents)
Averau'c earnings per j>a8Benger per mile
2-849
(cents)

$253,336 74
18-76
383,751
9,837,143

39,192
25*63

$1,009 31

66016

350,100

2-B75
333,585

91041

75-943

senger train mile
Total passenxer train earnings
Per cent of total earnings
Passenger train earnings per mile of

32
$352,715 57

29
$281,086 61

20'69

20-45

road
Passenger train earnings per train mile..
Miscellaneous Statistics—
Average miles of road operated
Gross earnings per mile of road
Operating expenses per mile of road
Operating expenses per train mUe
Net earniniiB per mile of road
Taxes per mile of road
Surplus over expenses and taxes per

$1.40524

$1.119 87

$1*00747

$084262

251
$6,793 02
4,189 99

$5,476 83
3,672 63

Passenger train mileage
Passenger eurnings per passenger train
mile loents)

Average number of passengers per pasTotal deductions
Bal. applicable to dlvs...

Dlviaends
Burplas

$195,430 05

$175,31145

$433,717 72
100,000 00

$258,858 49

$333,717 72

$258,868 49

63-32

68-42

Per cent of operating expen, and taxes to earns.

PROFIT AND LOSS ACCOUNT TO JUNE

$20,118 60

/.
/.

$174,859 23
/.

lOO.OCOOO

7.

$74,659 23
D.

510

30, 1903.

O R R rj I Tfl ^"$122,424 53
Balance June 30, 1902
Surpluslucomeyearended JuneSO, 1903. 333,717 72
$456,142 25

Debits—
Reserve as guaranty of interest
Reserves for sundry purposes

$95,650 00
12,558 48

Total Debits.

108,208 48

Balance— Surplus as per Condensed Balance Sheet

RENEWAL RESERVE

FUJNDS JUNE

mUeofroad
Average cost of repairs per locomotive
owned at end of year
Average cost of repairs per car in passenger service owned at end of year...
Averaee cost of repairs per oar In ireight
serFlce owned at end of year

PATTERSON, TEELE

$44,666 60

Boston, 131 State

Roadway

$54,278 03
6,134 56

Eqolpment

60,412 59

1,039 85

1,145 23

2,641 41

2,100 96

1,154 72

98199

78 63

147 13

A

DENNIS,

Baltimore, 16

St.

GolmubuB,

$151,116 88

1903:

1,729 76

Cebtitibo Public aocountahts.
JO Broad St., New York.

102,250 28
4,200 00

Total

2,49175

74 44

Elisha Gee, Auditor.

30, 1903.

Deduct Renewals during the Fiscal Year

135
1,804 20

Maintenance of way and structures per

$347,933 77

Balance June 30, 1902
...
Additions through charges to Operating
Expenses
Other Items

52

2,603 03
Ill 28

1

mUeofroad

Total Credits

261

O.,

16 E. Broad

8.

Calvert St.

St.

New York, September 22, 1903.
and Bondholdera of the Oulf & Ship
Island Railroad Company :
We have made an examination of the books and accounts
of the Gulf & Ship Island Railroad Company for the fiscal
To

the Stockholders

|

Balance Jane 30, 1903

$90,704 29

FREIGHT, PASSENGER AND MISCELLANEOUS STATISTICS.
1903.
$1,338,861 10
78-52
of revenue tons carried
1,058,033
of revenue tons carried 1 mile..
70,880,918
of revenue tons carried 1 mile

1902.

Freight Traffic—
Total earnings from freight
Percent of total earnings

Number
Number
Nmnber

permlleofroad
Ayerage distance
Freight earnings

in miles 1 ton carried.
of road

permUe

$1,091,597 67
79-41
903,918
57.313,811

282,394
66 99
$5,334 11

228,342

year ending June 30, 1903, and hereby certify that the Balance Sheet and Income and Profit and Loss Accounts published herewith are in accordance with the books, and we
have satisfied ourselves that they accurately set forth the
results of the year's operation and the financial conditions
as at

June

30,

1

903.

Patterson, Teele

63-41
$4,348 99

&

Certtfied Public

Dennis,
AccountantB

COLONIAL SUGARS COMPANY.
FIRST

ANNUAL REPORT—FOR THE EIGHT MONTHS BEGINNING NOVEMBER
IZATION, TO

To

JUNE

30, 1903,

Sugars Company:
the first Report of this
Company, covering the period from November 1, ';903—the
date the Company began business to June 30, 1903, the end

END OF FISCAL YEAR.

the Stockhcliera of the Colonial

Treasury

Gentlemen— I submit herewith

^2,098, 000

—

of the Fiscal Year.

COLONIAL SUGARS COMPANY.
The Colonial Sugars Company was organized under the
Laws of the State of New Jersey June 19, 1902, and began
business November 1, 1902, with an authorized capital stock
of $3,000,000, and authorized to issue $3,000,000 First Mortgage Bonds bearing 5 per cent interest. It was formed to
take over by purchase and consolidation, the.

QRAMERCY SUGAR COMPANY.
(Owning the Refinery, Central Factory and_Plantations

in

Louisiana.)

DAMUJI COMPANY.
(Owning the Constancia Plantations, Central Factory*
etc., in

Cuba)

GRAMERCY FINANCE COMPANY.
^applying the working capital for the Gramercy Sagar Co.)
Through the absorption of^these companies and by additional purchases the Colonial Sugars Company acquired
properties, enumerated in detail hereafter, aggregating over
|5,000.00J in value.
The total stock of the Colonial Sugars Company issued to
date (June 30, 1903), is $3,785,000, and there is held in the

1,

1902,

DATE OF ORGAN-

The total of bonds issued to date
and $902,000 bonds remain in Co.'s Treasury.

f 320, 000.

is

The Company occupies a unique position in the sugar industry, as it raises its own cane on its own land-", crushing
the cane in its own Central Factorief, producing raw sugar,
and refining it into standard high grade sugar at its own ReIn addition to the e onomies resulting from these
ftr.ery.
combined advantages, all "middlemen's" profits are saved,
and the Compacy, when its lands and plants are fully developed, will be independent of raw sugar markets. Under
these favorable conditions, a degree of security and stability
is attained such as is seldom e' joyed in commercial undertakings.
The sugar crops in Louisiana and Cuba mature at different
seasons— that in Louisiana in the late Fall, immediately followed by that of Cuba; a sequence convenient for a continuous supply of its own raw sugars for the operation of the
Company's Refinery.
The Company's property in the United States is located at
Gramercy, La., on the Mississippi River, one hour from New
Orleans on the Illino s Central Railroad system, and consists, in addition to the property enumerated below, of a
modern Refinery, completed early in 1903, fireproof and
equipped with the highest type of machinery, capable of
turning out 1,200 barrelsof high grade standard refined sugar
per day; and also a Central Factory equipped with machinery
capable of crushing 75,000 tons of cane during the crop season. Labor-saving appliances and sufficient railroad tracks

—

THE CHRONICLE

1240

are conveniently located to facilitate quick and cheap bandling of products.
Located on the Company's property at Gramercy are
Offices, Residences, a General Merchandise Store, two

Boarding Houses, Post Office, School House, and three miles
of railroad tracks and switches.
On property adjoining the Company's are about one hundred residences occupied by the Company's employees; several stores, a church, railroad depot, warehouse and telegraph office.
The buildings belonging to the Company and directly connected with the Refinery and Central Factory are as follows:
Square feet.

A nlne-ftorj-. eteel and brlok, fireproof
ing a iloor space of
A brick warehouse, 260x60. containing

Refinery, contain-

37,125
15,600

The main
clad and part brlok, oontalntUK
Machine Shop, Iron clad, 60x60, two stories
Brick Blacksmith and Wheelwright Shop, 30xG0,containlng

building of the Central F»otory,foiir stories, iron-

120,000
7,000
1,800
10,000
13,750
1,800

Iron clad Storage Shed. 60x200, containing
Cooper Shop, 275x50, containing
Dry Klin, 30x60, ooutalning

207.075

Total Floor Space of nearly five acres, or

The Refinerylconsumes 2,000,000 gallons of water per day,
the greater portion of which is supplied by a pumping station
located on the banks of the Mississippi River, 1,600 feet dist
ant, containing two compound 24-inch delivery pumps; the
balance being drawn from twelve wells 350 feet deep, operated by compressed air. The boiler plant (2,000 horse power)
Oil is used at the
is arranged tor burning coal or fuel oil.
present, the consumption averaging 380 barrels per day. The
Company employs at the Refinery about 3C0 men, of which
100 can be classed as skilled and 200 as ordinary laborers.
The Company's landed estates in Louisiana consist of the
Golden Grove, David, Hester and Mt. Houmas plantations,
owned in fee, containing 6,480 acres of land, of which 4,000
acres are available for sugar culture, 3,200 acres being
cultivated this year.
These plantations are all connected with the Central
Factory of Gramercyby the Illinois Central Railroad system.
They are in the highest state of cultivation, thoroughly
drained (335 miles of canals and ditches) and equipped
with a sufficient number of working animals (267 mules) and
modern agricultural implements.
The Company employs on these plantations, during nine
months of the year, an average of 275 laborers negroes and
Italians— and during three months of the year, from Oc
tober 15 to January 15, the harvesting season, this force is
increased to twice that number or more, according to necesOn the 3,200 acres cultivated during 1902, 54,000 tons
sities.
of cane were grown and harvested, from which 8,100,000
pounds of raw sugar was made at the Central Factory and
afterwards refined by the Company.
The Company's property in Cuba is located on the South
side of the Island, twelve miles from the city of Cienfuegos
(40,000 inhabitants), and is the estate formerly known as the
"Constancia," one of the largest in Cuba and contiguous to
tidewater, which is reached by the navigable Damuji River.
On this Estate upwards of $5,000,000 had been expended by
former owners. It was wrecked by the late insurrection
and war on the Island, and its product had been reduced,
at the time it was taken over by the Company, to an output
of 20,000,000 pounds of raw sugar per annum.
At Constancia is located the Central Factory with all its
buildings, covering an area of about 130,000 square feet, or
nearly three acres; a distillery, with a daily capacity of ten
pipes (1,200 gallons) of rum or alcohol; a machine shop,
fitted with power tools for iron and woodwork, and sufficient for making all repairs to locomotives, cars and to the
machinery in the Central Factory; a foundry for making
iron and brass castings; a carpenter and car shop, where the
Company has turned out the wood work for its cars: a sawmill where logs (mahogany, etc.) are sawed into lumber for
all construction and repair work.
These shops are a valuable addition to the property, relieving the Company of the
necessity of sending the machinery to distant points for re
pairs, and resulting in better, cheaper and prompter work.
Additional buildings are an engine house for housing its
locomotives; a storehouse for supplies; a fine residence, surrounded by fruit, vegetable and flower gardens, occupied by
the General Superintendent; four residences for other
officials of the Company; laborers' cottages aQd buildings
sufficient for housing 200 laborers; a large general merchandise store, a drug store and school. On the elevated
ground, 75 feet above the water level of the Damuji River,
where the residence of the Superintendent is located, is a
fine brick circular reservoir, 100 feet in diameter and 10 feet
deep. This reservoir is supplied with pure water from the
Santa Lucia, a small stream a mile and a quarter distant,
fed by natural springs. A new y-inch pipe line and modern
,

—

[Vol. lxxvii.

54,655 acres, equipped with residences, stables, cottages for
laborers, agricultural implements, and 1,117 head of working
oxen, mules and horses.
Of the total land comprising the estate, 35,620 acres are
deeded to your Company in perpetuity, under censos* calling
for an annual payment of 47 cents per acre per annum; 14,600
acres are under time leases, expiring at various dates, at
average rentals of $1 60 per acre per annum; 4,433 acres, on
which the Central Factory, Distillery, Machine Shop, etc.,
are located, are owned in fee. Several colonias or farms, included in the 1 4,600 acres held'under time leases, are undesirable, and at the expiration of the leases they need not be renewed. There is approximately 10,000 acres of land (not
owned by your Company) contiguous to your Company's

railway, on which cane is grown by independent farmers,
but practically for your benefit, from the advantages over
any other purchaser that your Company enjoys.
All these ou' lying properties are connected with the Company's Central Factory at Constancia by the Company's
railroad, which has a total trackage of 56 miles. The lands
of the Estate are rolling, affording excellent drainage. The
location is one of the healthiest in the Island.
It is said
there has not been a case of yellow fever on this Estate since
1850. Temperature never goes below 41 and rarely above 100.
It is a well-known fact that the lands on the south side of
the Island are more fertile than in any other portion of
Cuba, as they get the benefit of the trade winds from the
Caribbean sea, which ensure more equable temperature and
more evenly distributed precipitation of rain. Of the 54,655
acres of land, 20,000 to 25,000 are available for sugar culture,
the balance being forest, "savanas" or "potreros," (ranges
or pastures) adapted for grazing and other advantageous
A large area of the land (approximately
employments.
15,000 acres) not adapted for sugar could be utilized for
cattle raising— a vei'y profitable industry in Cuba.
The acreage under cultivation in 1902, when the property
was taken over by this Company, was about 10,000 acres, on
which 168,000 tons of cane were grown and from which
37,000,000 pounds of raw sugar were produced, an increase
of 76 per cent over the output of the year preceding. This
sugar was hauled on the Company's railroad from its Central Factory to its wharf, one mile, loaded on its lighters,
taken alongside steamer in Cienfuegos Bay, six miles distant, and shipped to its refinery at Gramercy, La., where it
was refined and distributed thence to Company's customers.
The planting of cane in Cuba was extended largely during
the spring months of 1903, new lands to the extent of about
3,000 acres having been prepared for the purpose by expenditures out of the profits of operation; and the acreage in
cultivation now is approximately 13,000 acres, from which it
is expected to harvest, beginning December 15 of this year,
from 200,000 to 225,000 tons of cane, with a resulting yield
of from 45,000,000 to 50,000,000 pounds of raw sugar, an increase over this current year of about 30 per cent, from
which a corresponding increase of profit should be realized
and appear in next report.
The Estate has a capacity of about 400,000 tons, or 90,000,000
pounds, of raw sugars. This, it is expected, will ultimately
be reached, which would be an increase of 80 per cent over
the expected product of this year. I
In the cultivation of the fields, approximately 400 laborers
negroes, Spanish emigrants, Cubans and a few Chinese
are employed from June 1 to December 1. During the
harvesting season, December 15 to June 1, the force of labor
in every branch of the industry is largely increased, and the
total then employed varies from 2,500 to 3,000 men.
Early in the summer of 1902 the Gramercy Sugar Company, to whose contracts andjassets the Colonial Sugars Company succeeded in the following November, had entered into
a five-year contract with the Lone Star and Crescent Oil
Co. of New Orleans, by which the latter agreed to deliver
oil in the tanks of the Sugar Company, sufficient for its
requirements, at 50 cents per barrel. The Sugar Company,
in view of this contract, made arrangements to burn oil
in lieu of coal, at an expense of about $25,000, installing the
best fuel-oil-burning apparatus obtainable, large storage
tanks (15,000 barrels capacity), pipe lines, etc. The use of
The Oil Company defaulted on its
oil began August 1, 1902.

—

contract and ceased the delivery of oil early in December
following. Your Company had: been compelled to alter
some of Its furnaces to burn coal, interrupting the grinding
of cane, at a time when the railroads delivering coal were
seriously hampered by scarcity of cars, and their business
became so congested that it seemed at one time that the
Company might be unable no crush all of its crop from its
Louisiana plantations. This menace was averted, however ;
all of the crop being ground, but at an increased cost. After
the close of the grinding operations at the Central Factory,

about January 6, 1903, your Company bought 53,000 barrels
of oil, to continue the refining operations which had been
interrupted.

This

oil

cost 88 cents per barrel, spot cash,

pumping station were installed in 1902.
instead of 50 cents, the contract price of the Oil Company.
The Company employs at its Central Factory, in the Ma- Suit for damages was promptly begun by your Company in
chine Shop and Distillery, from June 1 to December of each the United States Court in New Orleans, and the Oil Com1

year, an average of 60 men, of whom 30 are skilled mechanics, engaged in the repair of locomotives, cars and ma-

pany put in the hands of a receiver. Recent advices frona
the Company's attorney at New Orleans indicate that the
chinery and in operating the distillery, manufacturing rum Oil Company is desirous of discharging the receivership, and
and alcohol. An average of 55 naen are employed continu* Censo.— A Spanish custom of deeding lands In perpetuity to a purously in repair of railroad tracks and switches, telephone
chaser who ;i(.Tee8to pay an annual amount, called "censo," but who
lines, lighters, etc.
the right to take the land In fee at any time upon payment of an
The Company's landed estates in Cuba consist of fifty- four has
amount determined by capitalizing the annual payment, as provided
plantatioafl or farms (haciendas or colonias), aggregating In the deed.
;

Oct.

THE CHRONICLE.

17, 1903.J

1-241

amount expended by your Companjr, provided insurance, has been $681,000; of which 1623,450 represents
amount does not exceed $2"), 000 your Company to with- customs duties, which is a cash outlay to the full amount
draw its claim and suit. From the information your Presi- till the sugar is refined, distributed and paid for.
Large expenditures were necessarily made throughout the
dent has received of the unsatisfactory condition of the
entire year in cultivating the crops; no cash returns resultaffairs of the Lone Star and Crescent Oil Co., he recom
ing from such expenditures until the crops were harvested,
mends :v settlement of the suit on the best terms possible.
A contract has been made with a responsible company for the sugar made, refined, sold on thirty to sixty days' time,
an adequate quantity of fuel oil for the Refinery for one and the bills collected. Refined sugar is sold, "delivered at
year beginning AuETiistl, 1903, at 68 cents per barrel de- destination,'" necessitating prepayment of railroad freights.
livered in the Company's storage tanks at Grameroy; 10,140 In the conduct of your Company's business, therefore,
barrels of 43 gallons each have already been delivered on especially when the accumulation of Raw Sugars was
this contract. The price, while an advance of i8 cents per greatest, it was necessary to borrow large sums of money,
barrel over the contract price with the Lone Star & Crescent the loans amounting at one time to $500,000.
The sale of
to pay the

the

;

20 cents per barrel less than the Company had to
Cres
the failure of the Lone Star
cent Oil Co. to carry out its contract, and is the equivalentas fuel, of coal at the present price of the latter, the Company, however, saving laruely in being enabled to dispense
with the services of firemen, coal passers and ash wheelers.
The system inaugurated by former owners of the Estates,
Oil Co.,

pay for

is

&

its fuel oil after

and continued by the Constandia Sugar Company and
Damuji Company, of feeding and lodging all officers,
mechanics, employees and laborers, in addition to the payment of their regular wage?, proved an expensive and wasteYour Company has abandoned this system
ful arrangement.
and your otticers and employees are now paid fixed wages
and are required to provide for themselves.
In order to afford facilities for the purchase by your officers
and employees of the necessities of life, four General Merchandise Stores have been established at convenient points.

the finished product of Refined Sugars has already liquidated
Your Company has no floating debt, no
this indebtedness.
liens or claims against its property except its first mortgage
bonds; and no litigation e.icept the suit of your Company
against the Lone star and Crescent Oil Company already

mentioned.

The total net earnings of the Company as appears by Income Account herewith since its establishment November
1, 19(i2,

to

From

June

this

it

S*^, 1903, has been $398,651 06.
will appear that a large amount has been
this period properly applicable to dividends

earned during
upon the stock yetlyour Directors decided that no dividend
should be declared at this time, it being deemed wiser to
make use of the net earnings over and above payments of
interest on the Bonds in improvements and development of
your Cuban properties. The application of a moderate sum
of money at this time will increase the output for the coming
season to an extent equal to the whole amount expended
and add that amount permanently to the annual capacity of
;

The Store Buildings are owned by the Company,;and the stock
of merchandise in each store is owned jointly and equally by
your Company and a resident Cuban partner, who attends the Estate.
to the selling of the goods. The purchasing is done by an
All of which is respectfully submitted for consideration.
American (spesking i^pmish) to whom are rendered daily
M. R. SPELMAN,
accounts of sales. The Company's cash investment in the four
New York, September 1, 1903.
Fretident.
stores is $9,636 39 and its interest can be disposed of to its
resident partners at double that amount. The profit of the
four stores for the six months ending April 30 was $7,257 34,
of which one-half, or §3,628 67, has been paid into your Treasury. This amount represents a return of 773^ per cent on
an investment of §9,636 39.
Shortly after entering upon his duties, the death of Mr. R.
S. Charles, who was Treasurer of the Damuji Company and
who had accepted the same position with your Company
the long- continued illness and recent death of Don Emilio
Apesteguia, Local Treasurer in Cuba ; and the intermittent
sicknefs of Mr. H. S. Bell, Auditor, New Orleans, all men of
advanced years caused such delays in the accounting and
prompt reports of the Company's business, that it was determined to have the auditing done in New York. This was
effected without an increase of expenses beyond the amount
of office rent, etc., as savings in expense of office force in
Cuba and New Orleans will equal Auditor's salary and clerk
hire here, Mr. B. F. Just, an experienced expert accountant, has been appointed Auditor, and domiciled in New York.
The former owners of the property now owned by your
Company in Cuba were subject, during the last insurrection
in that Island, to enormous expense incurred in vainly seeking protection against Spanish forces and Cuban insurrec
ti'-nists. While none of the Central Factory property was de;

;

;

'

'

stroyed, outlying buildings and cane fields were burned, the
railroad partially destroyed, and the greater part of the oxen,
horses and mules stolen. Forts, block-houses and breast
works (80 in number) were built, some of which still remain.
At one time a large force (said to have been 400) of Spanish
troops hired from the Spanish Governor-General, were employed to guard the property. From such conditions demoralization necessarily resulted, and when your Company
oame into possession of this extensive and valuable domain,
it was found to be in an almost chaotic state, and without
Eractical and experienced men in any department, and an
isufficient force of laborers.
Expert men were put at the
head of each department; all liens and claims of any kind
clouding the title to the property were adjusted and paid;
sufficient working cattle were purchased and sufficient labor
procured to insure the good caltivation and continued development of the fields; thorough repairs to railroad and
equipment were made, as well as to the tug and lighters; extensive repairs and additions were made at the Central Fac
tory, ample to enable the Company to complel.e the grinding
of the growing crops.
In 1902 the product of these Estates, under the Damuji
Company, the former owner, was 94,000 tons of cane, making
21,000,000 pounds of raw sugar.
In 1903, the first season of
ite operation, your Company ground 168,000 tons, making
37,000," 00 pounds of sugar, an increase of 78 per cent.
Your
working capital has been necessarily drawn on heavily to
bring your Cuban 'property into a safe position and an
etficient working condition.
further outlay approximately §400,000—wholly in connection with the Central
Factory and railroad, should be made to enable your Company fully to develop its property in Cuba and to produce
the maximum amount of raw sugar at the minimum of expense. Of the above-named amount, $100,000 will be expended this year for increased water supply, fifty new cars,
one new locomotive, installation of new centrifugals for drying first sugars and for purchase of additional oxen and carts.
The cost of transporting the 37,000,000 pounds of raw sugar
made in Cuba this past season to your refinery at Gramercy,
La., including United States Custom duties, freights and

A

—

EXHIBIT "A."— COLONIAL SUGARS COMPANY.
Qeneral Balance Sheet June
ASSETS.
Pbopbett and Plant—

30, 1903.

Heal Estate and Buildings; Railroad and Telephone;
River Transportation; Water Supply Plant; Horses,
Mules and Oxen; Office Furniture and Fixtures; Machinery and loole; Carts and Harness
$4,881,569 10

Crop 1903 and 1904 in Cuba
$28,996 82
Crop 1902 and 1903 in Louisiana
47,511 96
Louisiana Sugar Exchange Stock
140 00
Bonds reserved to take up equal amount of
Gramercj" Bonds outstanding
52,000 00
Merchandise Stores In Cuba
9,636 39

138,285 17

Material and Suppllea

486,488 91

Current Assets—
Cash on Hand and

in

Banbs

$28,701 04
178,816 06
5,939 48

Customers' Accounts
Due from Colonos
Due from U. S. Customs, etc

6,87130

220,327 88

$5,726,641 06

Total Assets.

LIABILITIES.
Capital Stocks—
Authorized
Not Issued

$3,000,000 00
220,000 00

$2,780,000 00

$3,000,000 00
850,000 00

2,150,000 00

BondsAuthorized

Not Issued

Grameroy Bonds Outstanding
Current Liabilities—
Bills

52,000 00

Payable

400,000 CO

Deferred Liabilities—
Interest Accrued on Bonds, but not due
For Expenditures In Cuba

$27,005 00
71,140 69

98,145 69

246,495 37

Surplus

$5,726,64106

Total UabiUties

Exhibit

"B.»-C0L0NIAL SUGARS COMPANY.

General Income Account for Eight Months Ended June
Gramercy

Proflts, Schedule No. 1..
Louisiana Plantation Proflts, Schedule No. 2
Central Factory, Constancia Proflts, Sched-

$157,992 10
7,650 63

ule No. 3
Transportation, Constancia Proflts, Schedule
No. 5

197,785 11

Refinery,

30, 1903.

2,155 28

$365,583 12

Less— Constancia Plantation, Loss, Schedule
No. 4

12,043 65

:

$353,539 47

from Operations
Additional Profits —
Interest and Discount
Proflts

$1,088

Proflts flrst quarter, four stores
Proflts second quarter. Jour stores

...

Exchange ^ew York Funds

1,773
1,919
40,330

17
19
46
77
45,111 59

$398,65106

Total Profits

Payments from Income—
Interest on

54,010 00

Bonds

$344,64106

ReservedIntel est

Accrued on Bonds to date from
$27,005 00
71,140 69

April 1,1903

For Expenditures In Cuba

:

Surplift as of

June

30,

1903

^

98,145 69

$246,495 37

.

4

.

THE CHRONICLE.

124-2

[Vol. Lxxvir.

COTTON.
Friday Night, October

"^FoMlinElRcTAlL

EpTtToME.

Friday Niobt,

Oct. 16, 1908.

16, 1908.

Thb Movement op 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 803,997 bales,
against 307.501 bales last week and 293,804 bales the previous
week, making the total reoelots since the 1st of Sept., 1903,
1,256,349 h&lm, against 1,638,366 bales for the same period of
1803, showing a decrease since Sept. 1. 1903, of 382,017 bales.

Heeitanoy has continued to mark the operations of bnvers in a nomber of lines of trade. An easier tendency
to valnes has been the general rule and buyers consequently have shown a disposition to hold off from operatReceiptt at—
Sat,
Mon.
Tiut.
wed. Thurg.
FH.
Total.
ing freely until they are satisfied that prices have set"
Galveston
16,360 17,122 23,449 12,127 15,947 18,248 98,143
tied to a steady basis. The depression existing in finan
Sab. Pass, &o.
871
871
cial circles also has continued to exert an unfavorable in- New Orleans.
6.774 11,188 11,281 10,211
9,022 11,264 58,740
fluence upon the general business situation. Despite the Mobile
2,118 2,383 3,030 1,272
755 3,379 11,907
4,005
4,005
lethargy that exists to a greater or less degree in business Pensaoola, Ac
Savannah
10,112
1»,174
10,771
10,964
11,712
13,863
69,596
from first hand?, the actual movement of merchandise into
Brunsw'k, &c
3,819
2,819
consumption has been on a liberal scale, as shown by the
Charleston
1,867
2,035
1,623
8,800
3,331
883
12.539
congested condition of railway freight traffic in some sec\

.

tions of the country. The Agricultural Bureau in its monthly
report Indicates a com crop of 2,300 million bushels.
Lard on the spot bas had a slightly better sale, and prices
have settled to a more attractive basis. Few buyers, however,
have been willing to purchase supplies much in advance of
well-defined current wants. The close was easy at 7 20c. for
Erime Western and 6'50(a6-75o. for prime City. Refined lard
as been in limited demand and steady, closing at 7'50c. for
refined for the Continent. Speculation in lard for future de
livery has been moderately active, and prices have advanced
slightly. Shorts have bought to cover contracts, stimulated
by a small movement and higher prices for hogs. The close
waa lower under selling by packers.
DAILT OLOUMe PKI0B8 OV LABD VtmmaS Dl OHIOAOO.
Pri
Wed.
IKur$.
T%u$.
Hon
8at.
6-82i«
6-82is
6-65
660
October delT
6-67»a 6-77»i
6*72i<
6-67i* 680
«-90
6-87»«
6-70
January (lel*T
6-86
6-92»«
6-7a>«
675
695
670
May del'v

Pork has had only a jobbing sale locally, but prices have
held steady at $13 25@l3 75 for mesa, $14 50@16 50 for short
clear and $18 60@19 50 for family. Cut meats have been
quiet and prices have been irregular, closing at 6!^c. for
pickled sbonldere, ll>^@12o. for pickled hams and 93^@llo.
Beef bas had a
for pickled bellies, 14@10-lbs. average.
moderate sale at steady prices, closing at |8 75@9 for mess,
$9 50® 10 25 for packet, |;10@10 50 for family and $14 50® 16 50
for extra India mess, in tee. Tallow has been in moderate
demand and steady at 4^c. Stearines have had a moderate
sale and prices have been well maintained, closing at 8i>^c.
for lard stearine and 7^c. for oleo stearine. Cottonseed oil
hfis been quiet but steady, closing at 39>ic. for prime yellow,
and 84i^@373^ for new crop, forward deReceipts of butter have been light, due to the delay
liveries.
In railroad traffic; prices have advanced, closing at 16@21i.^c.
for creamery. Choice grades of cheese have been in light
supply and firm, closing at 9@1134c. for State factory, full
cream. Fresh eggs have been scarce for choice grades, closing firm at 25c. for best Western.
Brazil grades of coffee have been unsettled. Trade demand
has shown a tendency to hesitate at the higher prices ruling
and full receipts have had a disturbing icflaence. The close
was firm at 5^c. for Rio No. 7 and Qfi@&Jio. for Santos No.
West India growths have had only a limited sale, but
4.
there baa been no pressure to sell, and prices have held steady
at 8c. for good Cncuta. Speculation in the market for contracts has been moderately active, and under liquidation by
recent buyers prices have weakened slightly. The close was
firmer on a predicted smaller crop movement. Following

prompt

delivery,

are the closing asked prices.
5-55e.
5-20o. May.....
4908. Jan
Oet
5-65o.
4 95c. Feb. ...... ....... 530?. July
Hot
5-35o. Bept......^
5150. Maroh
5'75o.
.~
Dee
Baw sugars have been firmly held and moderate sales have
been made at full values, closing at 8Jgo. for centrifugal, 98
deg. test, and S»^c. for muscovado, 89-deg. test. Refined
sugar bas heen in moderate demand and firm at 4'75c. for
granulated. Rice has declined. Spices have been well held.
Teas have been in fair demand.
Desirable grades of Kentucky tobacco have been in deI

j

Ft. Royal, &o.
Wilmington....
Wash'ton,&o.

313

313

3,431

2,182

4,405

1,646

3.466

6,296

Norfolb:

3,648

?,692

4,017

3.901

8,481

3,481

21.416
48
21.120

368

368

500
63
74

507
63
642

48

N'p'tNew8,&o.

New

rork.

Boston
Baltimore
Phlladelp'a,

4

Ao

160

3

808

Tot. this week. 43,200 49,646 61.854' 41,863: 47,410! 59.024 302,997

The following shows the week's total receipts, the total since
1, 1908, and the stocks to-night, compared with last year.

Sept.

1903.
Receipts to
Oct.

16

TMt

1902.

Since Sep.
1, 1903.

week.

98,143
871
New Orleane 68,740
MobUe
11,907
P'sacola. &o.
4,005
Savannah..
69,596
Br'wlok, Ao
2.819
12,539
Charleston.
313
P. Royal, &o.
WIlmlnKton. 21,416
48
Wash'n. &o.
Norfolk
21,120
N'portN.,&o
368
New York..
Boston
607
Baltimore.
63

109,187
123
£5.974
1,036
1,791
1,403
528

542

1,281

3,948
201,376
42,736
7,665
300,833
13,944
61,011

Stock.

Since Sep.
1, 1902.

413,050 104,510

Galveston...
8ab.P.,&c.

1903.

551,890
5,787
331,168
40,043
14,349
337,730
25,921
84,607
14
138,951
105
98.890
6,030
858

1,108
72.880
9.703

537
57,226
7,413
8.916

468
19,141
28
26.023
1,163

268

1903.

88,913

166,877

97,031
19.106

ie9,i4i
21,588

70,429
5,281
9,963

80,439

25,731

30,964

15,163

13,729

104,167

...-.

1,882

38,194

1.779
3,201
3,053

11,00c
1.532

909

40,779
14,000
2,387
4.789

302,997 1.256.349 311,22lll,638,366

449.223

656,167

Phlladel,Ac.

Totals

This
week.

1,337

748
230

In order that a comparison may be made with other years,
the totals at leading ports for six seasons.

we give below
at—

Receipts

Galves'n.

1903.

New

Orleans
Mobile

Savannah

...

Chas'ton, &o.
Wilm'ton, &o

Norfolk
N. News, Ac.

368

All others..

1900.

105,618 105,697
72,880
94,412
9,703
11,521
67,226
62,821
17,926
8,916
19,169
25,338
26,028
30,543
162
1,163
10.523
15.529

99,014
88,740
11,907
69,596
12.852
21,464
21,120

<&c.

1901.

1902.

7.936

1899.

1898.

90,824
132,219
8,909
60,742
19,495
12,813
28,813
1,948
23.370

89.085
78,184
8,245
88,864
11,500
11.104
17,213
19,963

189,899
74,777
12,914
64,877
41,760
24,768
32,811
8,647
26.926

361,949 874,238

264,054

422,379

896

1

offericgs have been light and sales made have been
at full values, Seed leaf tobacco has been firm but no business of importance has been transacted, due to light offerings.
Foreign grades of tobacco have had a fair sale at steady to

Tot

this

wk.

have weaken^ to 13'12J^c. for Lake and 18c. for electrolytic.
Lead has been sparingly offered and firm at 4 SOc.
Spelter has been unchanged and firm at 6c, The pig-iron
market has been unsettled. A fair demand has been reported for Southern. The close was on the basis of |16@16 60
for No. 1 Nor hern,
I Refined pe'roleum bas advanced, closing at 9c. in bbls.,
Naphtha has been unll*70c. in cases and 8'10 in bulk.
changed at 12"40c. Credit balances have been firmer, closing at |1 68. Spirits turpentine has been quieter and r rices
have weakened slightly. The close waa steady at 60J^@61c.
Rosins have advanced, closing at $2 60 for common aDd good
strained.
Hops have been quiet but steady. Wool has been
in more active demand and firm.

311.221

Since Sept. 1 1.2S6.349 1688,866 1230,37t) 1601.228 1646,388

The exports

for the

week ending

this evening reach a tota^

of 272,748 bales, of which 123,490 were to Great Britain, 11.802
to France and 137,656 to the rest of the Contineut,
Below

are the exports for the

mand;

firm prices.
Business in the market for Straits tin has been quiet, buyers being slow in placing orders, and prices have weakened.
The close was steady at 25'50@25 80c. Ingot copper has continued to drag, the large buyers being indifferent, and prices

302.997

week and

Wttk Ending Oct. 16.
Exvrttd to—

Exportg

from—

Great
Brit'n.

^
^'"'",

1

aalveston.... 88.806
Sab. PasB, Ac.

7,924

NewOrleana..
Mobile
Pensaoola

....

SaTannah.....

36,450
:1,101

9,168

Conti-i

nent.

1

since Sept.

1903.

7otal

4i,lC5, 85.83i

66,476

81.776

16.678

940
23 8^9

•

••••

.

4,101

3,930

3.950

2.050

600

5,060

7.60O

31,917

41,083

18.690

13,714

100.509

182.818

6,700

6.700

78,218

83,118

51.481

147,984

4,491

09,816
8.E93

3,018

....

28.000

28,000

4.900

3,678

10,858

31,559

81,764

12, '"1

24.016

707

24.7?8

10,491

12,283

26,702

2,640

8,619

18 419
050

80O

27

300

327
781,820

300
3,200

Philadelphia.

2640
300

Ae..

230,759
940

60,189

200
17,623

TotaL

8.6t42

7.291

Total 1002

93.509

France

to-

Continent.

4,491

12,6U

Total

1903. to Oct. 16, 1903

U,035 47,485

...

San Fran.,

Great

Week. Britain.

Norfolk.
N'port N.. Ac.

Boston
Baltimore

1,

8,012

WUmlnKton...

New York

Sept.

Exporteit

Bnxmwlok...
Charleston...
Port Eoyal...

From

1, 1903.

200
14.679

0.599

123,400

11.608 137.6S6 272,748

813 290 100 046

867 831

90.763

11.71^3 104.8^0 2io..sett

3H.S,31H 115.941

660.444 1.069.708

.

Oct.

«

1

«

.

THE CHRONICLE.

17, 1903.]

In addition to aboTe ezporti, cor telegrAmi to-night alao
give at the following amoanti of ootton on shipboard, not
cleared at the porti named. We add limilar flgarei for
New York, whioh are prepared for our special use bj Messrs.
Lambert <k Barrows. Prodnoe BzohanKe Bnlldinfr.

1243

FtJTURKS.— Highest, lowest and closing prices at

New

York,

OH asmoAfO}, hot outiBBD roB—
Ltatint

16 at-

Otl.

6rM(

etr-

Britain

rrnM many.

Other 09iUtFor'gn

itoek.

ToiM.

««
I

I

Kew

Orleans.
Oalyeston.. ..

BaTannah..

..

6,511 13.667 7,908 14,567
24.768 80,288 3,589 4.551
10,500 3,000
3,514

Obarleaton...
Mobile
Norfolk

3,Vo6

New York
Other

i'.ooo

i>ort8

"soo

10.000

.

Total 1903..

523
4 371
8.500

43.176
67.517

3,871
1.400
0.000

3,871
4,800
6.000
7.300

39.?. 14

s'obo
3,000

li'.ooo

68,855
21.396
40.915
6,092
14.305
9,162
86,867
31.453

23,000

5»,193 44,305 43.997 218^118 19.66^ 185,178

I

I

COM
ODOO

I

«

I

•

63.5 J5 88.838 30.992 34.800 16.693 184.738
87,834 23,118 33.601 89,3S9 11.159 193.601

I

014 ofl

trlet Loir Middling
Low Middling

„

0-88
0-73
BtTlot Good CMlnary
CK>od Ordinary..^ ..^.... 1*00

off
off
ofl

Low Bfld. Tinged... 084
Middling Stained
050
Strict Low Mid. Stained... 1-06
1-50
Low Middling Stained
Strict

ofl
ofl
ofl
ofl

On this basil the oflSoial nrloes for a few of the grades for
the past week— 0.}t. 10 to Oct. 16— would be as follows.
UPLANDS.

Sat.

Good Ordinary.

Low

8-60
9-22

Middling..

MlddUng
Oood Middling.

raon Taea
8-60

870
982
960 9 70
8 60

9 60

922
960

Sat.

men Taea

923

Th.

Frl.

8-80
9-43

8-90
9-52

9-80

990

lu04 10 04 lo04 lu 14 1034 10 34
1056 1056 10-56 1066 10-76 10 86

Middling Fair..

GOLF.
Oood Ordicary.

8 85
9 47

8-85
9-47

8 85
9 '47

Tl^edl

Tb. Frl.
915

895
957

9-05

JXTed.

Tb.

Fri.

8-30

930

8 40
9-40

9-46
9-30

9 56
9-90

9 67 977
985 985 985 9 95 10 05 10 15
10-29 lu29 lu-29 10 39 10-49 10 59
(0-81 10-81 10-81 10-91 11-01 11 11

lx)w Middling..

Middling
Oood Middling.
Middling Pair..

STAINED.

Sat.

Low Middling

8-10
9-10
9-26

810

8-10

9-10

910

960

9 26
9-60

9 26
9 60

Middling.
Strict

We4

Low Middling

Tinged...

Good Middling .Tinged.

Blon Toes

8-20
9-20
9 36
9-70

middling upland at New York on
Oct. lA for eaoh of the past 82 years have been as follo'vvs.
1903. ...c 990
1895....C 938
1887. ...C. 9ifl
1879. ...C 10^

The quotation*

for

10i«
1878
llBia
1877
10i,«
1876
lO's
71*
14»«
1891..... 8ifl
1875
53^
16ie
1874
1890....«.106ia
65,,
16'8
1878
119,8
1889.......109,s
19i«
91I18
7ioia 1888
1873
113i9
Note.—On Oct. 1, 1874, grades of cotton as quoted were changed.
Aeoording to the new olasslfloatioa Middling was on that day quoted
*B0. lower than Middling ot the old classification.

1903
1901
1900
1899
1898
1897
1896

8-70

1894
1893

89is

6

.

89i6
1892....... 8

1886
1886
1884
1883
1883
1881
1880

8Bie
9i3i8
9i5ie
lC9i6
117^4

MARKET AND SALES.
SPOT MabkIT
Olosbd.

Futubbs

Markbx
Olobbd.

Saturday .. /
Monday.... steady
Tuesday... iteady

Steady
Very steady

Wednesday tiulet,10pt8.ad

-Jteady

-

neady

iA.LB8

or bfot

Mx-

Oontump.

90rt.

ioo

Thursday.. St'dy.lOpts. ad. Very steady.
Friday
Bt'dy,10ptB.ad. Steady
Total

100

100
300
229
788

a U(>IITH.>0<
Oontract.

tola.
1

.

000

3,400

3,700

527

206
400

329
789
2C0
937

1.945

4,000

6,045

19

I

I

coco

I

0B»
coco
I

264.045

Speculation in cotton for future delivery tias been fairly
Developactive and prices have advanced rather sharply.
ments generally have been of a character more favorable to
the bull eide of the market. The movement of the crop has
been disappointiag, receipts at both the ports and the interior towns falling below ezpectatione'. The advices received from the Southern spot markets have reported a considerable improvement in the demand for actual cotton.
Domestic spinners have given increased attention to the
market as buyers and have made fair purchases. Exporters
have been fair buyers and there has been considerable buying by factora to obtain eupplies to make deliveries on their
October contracts. Reflecting the improvement in the demand for actual cotton, Southern spot markets advanced to above the parity of the N. Y. market
advance, however, the New York
for futures, which
market Bubsequently followed. Friday the market was fairly
active and firmer. European cables reported higher market,
due to light offerings from the South, and on this information, predictions of frost in the southwest sections of the
cotton belt and reports of a severe Gulf storm, which it was
feared might damage the cotton crop. Induced fairly free
buying, largely to cover short contracts, and prices advanced.
At the higher values there was considerable selling by recent
buyers to realize profits. The close was steady at a net gain
for the day of 18@26 points. Cotton on the spot has advanced, closing at 9'90c. for middling uplands.
The races on and off middling, aa established Nov. iSO, 1903,
by the Be vision Committee, at whioh grades other than
middling may be delivered on contract, are as follows.
FalT....>.
....^^^0. 1'SO on Gtood Mlddllmr Tinged ..o. Kveii
0-96 on atrlot Good acid. Tinged.. 0-80 on
Middling ralr .......^
0-62 on Strict Middling Tinged..^ 006 ofl
triot Good Middling
Oood Middling
^ 0-44 on Middling Tinged
OlS ofl

«

I

CD CO

I

371.489
860.671

coco

•

I

I

«

I

I

MtO

CO
01

I

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I

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I

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coco

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wco
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tow

coco

coco

COM

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9

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MCb
lOM

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9

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coco

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wco

coco

coco

coco

COCK

aM

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10 to

tbto
tot-

00'^
I

coco
IOCS

«

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§2

coco
tOl-

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CO^coco

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and telegraph,

19
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MtO
COl^

si

to CO

coco

II^CO

coco
'

CCm

00

9

coco
6to>

9

CD CO

c;>oi

M06

I

I

I

coco

I

<^M
Of-

coco
CO

MM

<io

coco

coco

coco

«

coco

to CD

M
kO

I

«0Cp

coco

tOM

coco
<>>IO

coco

coco

d

coco

M

coco
toco

MO M
o

coco

MCX
I

<eco
coco

ceco
tbto

«

I

coco

coco
coco

MCO
ooo

9

I

«--

COCO
I

COM

iO-M

COCO
I^CO

coco
<^C0
<

CBCO

COM

c;<

o<^
I

COCO
«J«J

I

ocn

I

V CQ

CCCD

I

1

I

aw

i

coco

Total 1902..
Total 1901..

COCO
•40I

1

1

I

9

*
M

9

coco

•
M
M

si

<s«

o
I

•

•4

OF COTTON to-uight, as made up

bjr

Foreign stocks, as well
as the afloat, are this week's retnms, ana consequently all
foreign figures are brought down to Thursday evening,
Bnt to make the total the complete figures for to-nlghl
(Oct. 16;, W6 add the item of exports from the United States,
Inoiadlng in It the exports of Friday only.
sable

Is

as follows.

1901.
1902.
1900.
1903.
Stock at Liverpool«i..Mbaleff. 119.000 231000 133.000
163,000
B*o<»» at London. __....^.«...
20,000
16,000
7,000
16.000
Stock at Manchester ....!. .—M
12.461
xotai Great i5rltaln Btook. 151.461 250 000 14A.000
178 000
Itook at Hamburg............^
18.000
83.000
14 000
15.000
Itoek at Bremen .... ........^
42.000
76,000
65,000
65,000
Stock at Botterdam
200
200
4006
Itook at Antwerp
2,000
4 000
4,000
44 000
itook at Havre.... ..... ......
49 000
27.000
26 000
3000
2000
Itoek at Marseilles
2,000
3,000
.....
21000
16000
8,000
Itook at Barcelona
7,000
12 000
5 000
6.000
6.000
Itook at Genoa....
10,000
2.000
9,000
7,000
Itook at Trieste . ...... .......
Total Continental stocks
153.000 186,000 139,200 129,200
Total Soropean stocks
304,461 436,000 284 200 307,200
mdia cotton afloat for Europe 37 000
21.000
15.000
48,000
Uner. ootton afloat for E'rope. 643,000 590.000 520.000 689.000
43.000
29,000
28.000
40,000
Bgrpt. Brazll,&o. ,aflt.for E'pe
66,000
81.000
70 000
Stock In Alexandria, Egypt...
49.000
212,000
Stock In Bombay, India.. ...» 222.000 200.000 300.000
554,272 612,988
Stock In United States ports.. 449,223 558,167
374,401
397,478
Stock In U-B. Interior towns.. 169.421 880,110
3'i,499
31,052
27.209
43,758
Qfnlted States exports to-day..
Total visible snpply
1.846,863 2,324,776 2,11»,159 2,372.641
Of tke above, totals ot American and other descriptions are as folio ws

Amtntan—
83 000 107.000
56,461 180.000
<&c.. stock... bales.
98,000 106,000
80.000 145,000
Continental ocooks...... ..,..«
590.000
520.000
689.000
Imerlcan afloat for Europe... 548.000
449.223 556,167 554,272 612,983
Onlted States stock.
.
..
Onlted States interior stocks. 169.431 380.110 397.478 374,401
32,499
27.209
31,052
43.758
Onlted States exports to-day.
Total American....
1.311.888 1,883,776 1,674,959 1,920,441
Matt InAian, Bratil, dc—
Uverpool,

Mverpooi stock...... ....,..•«,

75.000

London stock.

20 000
73 000
37 000

junUuentai soooKB...^

........

(ndla afloat for Europe .....^
29,000
..
STPt, Bratll, AX)., afloat
49 000
Stock Ib Alexandria, Egypt...
Stook IB Bombay, India........ 222,000
Total Bast India, dkc
„. 505^000
Total American
.. 1.341.8 63
Total risible sarply...... 1,846,863
5-94d
Saddling Upland, Liverpool
9'9J0
lUddllng Upland. New York..
8 ltd.
Bgypt Gtood Brown, Liverpool
9-OOd.
Pern f Bough Gtood, Liverpool
Broach Fine, Liverpool. ...,.
67i6d
51164.
nnnevelly Good. Liverpool...
.

55.000
55,000
64,000
7,000
16.000
16,000
28.200
46,300
41.000
15.000
48,000
21.000
28.000
40,000
48.000
81,000
70,000
66,000
200,000 200.000 212,000
441,000 444.200 452.200
1,883.776 1,674,959 1.9i0.441
2,321,776 2.119.159 2,372,641
5S8d.
4-;2d
42533d
8 -70c.
788d.

6-90d.

5\d.
426321

9" Continental imports past week have

i>>sc.

9^0.

6Si8d.
7d.
4i'32d.
408d.

7ll8d.

77l9d.

etd.
C6l6<I-

been 65,000 bales.
figures for 1903 show an increase over last week
of 216,690 bales, a loss of 477 918 bales from 1902, a decrease of
272,296 bales from 1901 and a lo3s of 625,773 bales from 1900.

The above

6.

.

THE CHRONICLE.

1-244

—

At the Lntbkior Towns

the movement that Is the receipts
week and sinoe September 1, the shipments for tne
week and the stocks to-night, and the same items for the
oorresponding period of 1903— is set out in detail below.
for the

* c c
3.C3 c
•3a

a*

»

2 rte

-»

g-s?

B S

M.

M

i*-

O

^ ^^

Ct

-

p d ®

=*

?8S

M

3

gg:
OB r
MB.
M
M

•

»1

H

s®

(i3M

to <i

• h«'i^

9>«

9

9^6

9^

93i8

9ie

gifl

a

Dharleeton..
yyiunlngton.

9

9
9

Boston
aaltlmore

M

Philadelphia

«-50
9 85

InguBta

9S8

.

....

u-ttO*?K;tooiMaDcorf^tcoa>-'i*kC03:»-'to-'Wi^ootoaDCOOifr:c»Si^ioo

aoio>'to^>40 — i7^>3«)t>j«4tour'c;i^at»owo:tocow^.^*'jMc»^

!

9h«
9

9^
9
9

9V|

938

960

97i*

9^;o
9-50
9-85
97,e
9k.
91a
9>4

99,

Bv'O
9-85
96ie'3i«9

9ifl

9k

9»«

aoaston

9H

9»4
9**

11

9>«

9

Bdemphls
St Loals.
Olxelnnatl .
Uttle Rook.

Moe6'i^c»:'ik'o35jci(^05

9

9
9>4
9-60

-Vorlolk

to

V—

938
988

Savannah...

Mjji(ooaBatocdt4aj-<M
>- -J

9°ifl

She

O

.

k^Mk.1
coM'^coastotO'j
'^ "'^ Vc6 <y '^
to y'a'o'co Oi CD

Tuet.

9

O
O

kS

oa«

if on.

dobUe

H

Wedne*.

Satur.

Vew Orleans

B^

a

s

It*.

j^alveston. .

o
o

• ^(9
S 0)

ST

CL08IM0 QDOTATIOHH FOR MIDULOIQ OOTTOH

ending

Oct.

$!"<

[Vol. lxxvii.

Quotations fob Middling Cotton at Otheb Mabkets.—
delow are closing quotations of middling cotton at Southern
ind other prinoipal cotton markets for each day of the week,
Wte.lc

-

«

.

..

11
888

11

889

8«»8

>-•

03"^) JO

fo'cc

«3"-.l

MMWtOT«M»S« MJ**
M vjtO 0<_->
K CO OiOS O pO * OD
M 'OVj'e V ^ CoVa'-J M » ;^ — 00 - «J *• CO'tJO^i
to <! — *>*'
o-Oi»>tota»J30K>troi^cotoe»Oi'>-*0»4^
Mcoii; — c*oiCiocK005i»«'0>coc^ou>^to^t3COco<~-t0 3'aeo3xo

»op; *^M
«J CD

•

00

i-i

'h=-"3'

m-jI
»aD'

9H

it^

05

9V

938

9%
9-37>«
911,6

9-60

9 70

956

980

9-.'\6

9-95

lOO.S

9-68
10-15

as follows.
OolombnB.MlBB 9
Entaola
9U,

9\

»9l(i

988
913
9»B
11
8B8

988
9»8
9»S

9l3i«

9%
9»«

11

11
9

888

at other

important

\^'ere
I

|liOal8vllle

I

.

I

M
M_CT C0_S9

M——

9^18

Atlanta...^
Oharlotte

989
913l«

9>s

9\
Oolomboa. Oa. 9
Montgomery... 9H
New Ubleanb Option Mabket.—The

Oa*OiO^OC^^^o<xcoc'*©^aaDotc^wto'>'^3«M1^^*ft^t^oo^:OOQc©
00

Athena. .......

m.

9»«
9«8
93,6
914
9>«

9

The closing quotations to-day (Friday)
Southern markets

00
M
tOMCOMHO^
tOl»
to
^
M^
M
co-^.'tacx^^a^i^'^^^ta'oooQPObVO i^»oi->ci300^co aios-^^^j^
OO
O
oi'm^
b>
to
OjV
05
CO
i^
W^
'»
'coV>"a<'«o'—
1^ CO V CO
<J
co^oJ:cJJOO*'Oto<'^o»cooe^l^O©i500D»ao»^^5-c»•g^l:»03Coao

ON—

Tkurt.

I

Nashvill^...^..

9

Natchei

Slia
9i«
9718

Raleigh
Bhreveport....

highest, lowest and
closing quotations for leading options In the New Orleans
cotton market the past week have been as follows.
Sat'iiay.
Oct. 10.

Monda
Oct.

T"e.*day, Wed'day, Thurid'y

12

Oct. 13.

Ott. 14.

Oct.

15

Oct. 16,

OOTOBKBM».

OODtO^tO

1^

MQDCO^tOWW — O

CO

Range
903»06 8-99 » -07 9'06«-26 9-24«'34 9-28 0-43 9-509-68
Closing... 9-05 »'07 9-08 9 '(jg 9-23'ai-21 9*27»*i8 9-39«-42 9-629-63

# i»-^ WOl Hi C 05 Wp

Dec'beb—
Range

w"eo*-j"Qo:3*c;>'o<TVoDQoOM'tcco*'-«'^00»a — <J'^^ccooobV u cOflOco
a
ta«oo5>-^OMtoc^c*3«aei5owxtoto^^^Ocxi»kaoia>ooMCD^-^i^

Oto->iKCdo^eco«o>-QoocD05cocac;i»'«]:ON:i»050-]©cccococoa5<j<

Closinjt...

Januaby—
0«

H-"

*

MOftMCOM

*»

I-

M—

>-•(-'

M
M

^W

M

oa

Mabch—

Range .... 9-26'»S0 9-22«-82 9-26W47 9-42'0-54 9-46O-60 9-689-77
9-28»'29 9-31»S2 9-42'(»-48 9-46 9-47 9-559-66 9-759-76
Closing

CO

M C3 *^

t.^

*^

M k^

Range

MWMM'c'oi-'atowi^.

roNB—

aui'aD>4Cjioo5»<]to3iai)05cooooo^u. ;xtocoM(^ao>4a5>-o5CD>—03c»-o

a
WO—tDM.

^

^

Spots

MCCMCOp "^J^J"' M t"© tO

COOSMOB^JOH^'-O;

CjJ

I

—

Steady. Steady.
V'y st'dy Steartv.

Steady.

Steady.

8t«^adv

Quiet.

Weather Reports by TELEaKAPH.— Our

Vol M 00 to b< to CO' eoMcobstsViM woeottco
^ 00^-^ l^©CbO»a50D^' O *o M © 09 (Z> 00 Cii<C 00 C^Ma^ OO^COM

'Vj'~iV**-'''o^"loVi'©'<»V<'

.>.•

Quiet

MWMtOCtO

t^

>-'

9 40O-43 93«t»-46 9-409-68 9-570-65 9 619-70 9-829'89
9450-47 9-57W-59 9-60 »
9-679-68 9879-88

Closing... 9'4 19-42

cc>-"Osoo:ooxo<i-"0<ao^<'~icoaoM*-jtoo5W«j'--toi^[O^Ti^-050>
*«©co<0<^ccx06*'00-iW'-«t»aDODM3"OOu>^to»4a)Wi<!ccco-JK)co

«DCOCeO506

. .

Mayto
00

—

9-279-40 9-329 45 9-539-62
Range .
9-12t»15 9-07918
Closing... 9 l3®-ll 9-179-18 9-29®-30 9-329 33 i)-409'41 9-609-61

V to —
OOC- (oVn^l to*-) A W-j'*OCOOOoioV *» W K- 0>Vl ^5 0305
VtOO
*•^^^»^'-e'•M'"aso<^~4e3^5®oo-lctuo^oo^^^NlO>*oo-oo5-^:)•
coacoa5COo(DCoaDc;<ato^*J"OOtoco9>3BWcoocc)-'0«oco9twW

«
WMl-ift to —

9'209'S3 9-259-38 9-469*86
9-25 0-26 9'340'35 9'55«

9-12'8>-32

1^ to to iO>
6J to
"- to
00 00
<i to_to oojo 00 *>.^

1^

5jicDcooi"'®<ocd05t>:05aDcewa9««*-oo06

05«IO 901911 9-06® 26
0S«09 9'10»-11 9'22a'28

from the South

telegraphic ad-

this evening denote that in

most localwith satisfactory weather conditions, the picking of
cotton has made excellent progress.
In Texas, however,
rain has been quite general, and in some districts the pre<
cipitation has been rather heavy, Interfering with the

vices

M«ai©«JCDO>a5X3U'M> OCCO^l^'COaCO©' ^Ou.^i^l^O'. OStOCOto©

Steady.
Steady.

The aoove totals show that the interior stocks have increased during the week 36,659 bales, and are to-night 210, 6S9
bales less than same period last year. The receipts at all the
towns have been 78,408 bales less than same week last year.

ities,

Overland Movement fob the Week and Since Sept. 1.—
We give utsiow a dtatmnent showing the overland movement
for the week and since Sept, 1, as made np from telegraphic
The reenlts for the week ending
reports Friday night.
Oct. 16 and sinoe Sspti 1 in the last two years are as follows,

Oalveaton, Texas.— We have had heavy rain on one day
the past week, to the extent of two Inches and thirty- two
Dundredths of an inch. The thermometer has ranged from
62 to 81, averaging 72.
Abilene, Texas.—
have had rain on one day of the past
week, the precipitation being two hundredths of an inch.
Average thermometer 62, highest 80, lowest 44.
Brenham, Teoias.— There has been rain on two days of the
week, to the extent of one inch and eighty-nine hundredths.
The thermometer has averagea 68, the highest being 85 and
the lowest 52.
Corpus Christi, Texas, There has been rain on two days
of the week, to the extent of sixty-eight hundredths of an
inch. The thermometer has averaged 73, ranging from 6i

1902

iao3.
October 16

iTMk,

Min$»
atvt.

1.

aintt

WUk.

atvt.

1

8kippt<^

V

a

16,436
e,6i6

50,458
19,483

25
50

3^0

850

1,046
4,20 7
1,068
6.264

2.327
10,627

27.136 86025

112,086

3,184

Via Padnoah
Via Rook Island
Via LonlBTlUe
Via Olnolnnatl
Via other rontea, Ac...

.-.

"762

1,449
2,546
8,658

1,057
2.103

Total gross overland....

Deduct f Aipm«nU—
Overland to N. Y., Boiton, *o..
Between interior towns. ......

10,392

1,723
27.123

1,112
128

5,003

2,578

7,891

267

2,7 26

930

6,S16

264
8*7

8.381

2,170j

11.786

3,664

18.HU7

Leaving total net overland' .
8,222
Inclndlng movenaent by rail to Canada.

15,351

82,861

93.089

Inland,

Ac, from Soatb.....

Total to be dedaoted. ..........
.

*

7.696
6,712

3,286

Loals

8t.

VU Cairo

Ihii year has been 8,232 bales, against 33,861 bales for the
week in 1903, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 77,738 bales.
1908.

1902.

In MinM and Spinntrt

Wtk.

Reoelpta at port« to Oct. 16

Net overland to Oct. 16
Bontbera oonsnmptlon to Oct.

16..

Total marketed
Interior itooks In exoese.......

Came Into

ilgbt daring week.. 338,878

Total in sight Oct. 16
2f ortb'B

.

spinners' tak'gs to Oot.

1

Mintt
aevi.

1.

1S98— Oct. 21

506.1H2
405,222
569,460

atvt.

1.

.

38,248i

582 2-00* A«is
167,819 74,732 817,032

1, 514,700383,

|458,314
1,972,5191
2.3 3l' 4 87
206,1341 75,346l

MovHtuent into sight la previous years,
Baitt.
WeeM—
ainee Mept. 1—
1901- Oct. 18
492.812 1901-Oct 18
1900- Oct. 19
1899- Oct 20

Binet

Wuk.

50^,9971,256,849 811.231 1,638 366
8,222
15,351 32 361
93,089
41.0U0 243,000 40.000 273.000
352,219
86.6i9

We

—

to 83.

Cuero, Texas. —Rain has fallen on two days during the week,
the rainfall being two inches and forty-five hundredths. The
thermometer has ranged trom 51 to 88, averaging 70.
Dallas, Texas.
have had rain on two days of the past
week, the precipitation being forty-seven hundredths of an
inch. Average thermometer 63, highest 78, lowest 45.
Pale.stine, Texas.— 'Ra.m has fallen on two days during the
week, the precipitation reaching one inch and twenty-six
hundredths. The thermometer has ranged from 50 to 78,

— We

averaging

The foregoing shows that the week's net overland movement

lakinga.

gathering of the crop.

1900-Oct. 19
1899— Oct. 20
1898— Oct 21

260,853

64.

— We

Paris, Texas.
have had rain on two days of the week,
the rainfall reaching one and three hundredths inches.
Average thermometer 63. highest 78, lowest 47.
have had rain on one day of
San Antonio, Texas,
the week, to the extent of one hundredth of an inch. The
thermometer has averaged 70, the highest being 88 and the

— We

lowest 62.
Weatherford, Teajcw.—There has been rain on three days
of the week, to the extent of twenty-two hundredths of an
inch. The thermometer has averaged 60, ranging from 42
to 77.

Henrietta, Texas,— We have had rain on two days of the
week, to the extent of eleven hundredths of an inch. The
thermometer has averaged 63, the highest being 80 and the

lowest 45.
Huntsville, Teajas.— There has been rain on two days of the
week, to the extent of one inch and eighty-six hundredths.
The thermometer has averaged 67, ranging from 46 to 87.
We have had no rain the past week.
Kerrville, Texas.
The thermometer has ranged from 38 to 82, averaging 61.
Lampasas, Texas.— We have had rain on one day this week,
the rainfall being fifty-three hundredths of an iujh. Average
h ermometer 70, highest 88, lowest 43.

—

„

—

Bait*.
1,810,840
2,23:«.980

2,271,996
2.560.316

1

,

Oct.

—

.

THE OHUONICLE.

17. Ilt03.]

Umgview, Jex'js.— There baa been rain oq two days

iporii

^rom—

lowest 48.
Luling, Texas.— There has been rain on two days during
the week, to the extent of two inches and fifty hundredths.
The thermometer has averaged 66, ranging from 48 to 84.
New Orleans, Louisiana.— There has been no rain during
the week. The thermometer has averaged 70.
Shn report, Louisiana.— There has been rain on one day
the past week, the ralnfrtll being fifty-two hundredths of an
inch. The thermometer has ranged from 43 to 81, averaging

BombaT—

Colmnbiis, Mississippi —Dry weather has prevailed all the
Only a small peris progressincr nicely.
centage of the crop has been marketed as yet. The thermometer has averaged 73, the highest being 86 and the low-

week and picking

ma WfK.

for

of the

week, to the extent of one Inch and three hundredthe. The
thermometer has averaged 64, the highest being 80 and the

64.

1245

Qrtat

OoH(intni.

Britain.

total.

1000

1908
1902
1901
alontta—
1903
1902
1901

atne* atpUttxbar
Qrtat
Britain.

1,000
4.000
3,000

4,0t:0

3,000

1.

Oontintnt.

2.000
1,000

total.

20,000

22.000

i4,'>oo

liS.OOO

13.000

13.00Q

4.000
4.000
3,000

4.000
4,000
3,0UO

000

1,000
1,000

1.000
1,000
1,000

16.000
16.000
16,000

16.000
15.000
10,000

41,000
34.000
83,000

43,000
85,000
38,000

......

uadraa—
1903
1902
1901
lUothera1908
1902
1901

1

3.000
2,000
2,000

3,000
2,000
2,000

4,000
6,000
5,000

4,000
6,000
5.000

rotal ail-

est 68.

Leland, Mitsisaippi.—There has been no rain during the
week. The thermometer has averaged 59'4, ranging from 41
to 79.

1903
1J>03
l-^Ol

2,000
l.COO

Alexandria Receipts and Shipments of Cotton.—
Through arrangements we made with Messrs. Choremi,
Benaobi & Co., of Alexandria, we now receive a weekly
oable of the movements of cotton at Alexandria, Egypt,
averaging 64.
The following are the receipts and shipments for the
Helena, Arkansas. Fine picking weather. There will be
for the oorrespondlng week of the previous
but a light top crop. No frost as yet. Rain has fallen on past week and
two
years.
one day of the week, to the extent of thirteen hundredths of
an iuch, but rain is now falling and a storm threatens. The
Alexandria. Egypt,

— We

have had rain on one day
Vicksburg, Mississippi,
during the week. The rainfall reached sixteen hundredths
of an inch. The thermometer has ranged from 47 to 82,

—

thermometer has averaged

63,

the highest being 80 and the

lowest 44.

October 14

1903.

1902.

1901.

225 000
707 99

300,451
948.138

262,369
767.344

Rtctiptt (cuntars)*—

Memphis, Tenn.— Dry weather has prevailed all the week.
Picking has made good progress. The thermometer has
averaa;ed &V5, ranging from 46"6 to 80 '7.
Mobile, Alcbama. The weather in the interior has been
favorable and picking active. la some sections planters are
inclined to hold their cotton. Rain is falling to-day. We
have had rain on one day during the week, the rainfall
bving eight hundredths of an inch. Average thermometer

—

lowest

68, highest 81,

50.

This week
Since Sept.

1

Sine.

Exports (bales)—

To
To
To
To

Liverpool

Manchester.
Continent

...

lowest 44.
Selma, Alabama. We have had no rain durine: the week.
The thermometer has averaged 76, ranging from 63 to 88.
Madvon, Florida.— Receipts are increasing and the quality
is good on account of the fine weather.
We have had no
rain during the week. The thermometer has ranged from 60
to 94, averaging 76.
Savannah, Georgia.
have had no rain the past week.
The thermometer has averaged 68, the highest being 83 and
the lowest 54.
Augusta, Oeorgia.—'We have had rain on one day of the
week, the rainfall reaching three hundredths of an inch.
Average thermometer 64, highest 83, lowest 50.
Charletton, South Carolina,— The week's rainfall has been
only a trace, on three days. The thermometer has ranged
from 63 to 80, averaging 66.
Stateburg, South Caroii»uj.— Cotton-picking is making
active progress. There has been a trace of rain on two days
during the week. Average thermometer 65, highest 83, low-

—

*

itpt.

4,750
4,760

20,744
8.000
26,035
1,300

8

America

Total exports

—

Montgomery, Alabama. Picking and marketing are|being
The
rushed. There has been no rain during the week.
thermometer has averaged 67, the highest being 83 and the

vottk

760
200

\

tKtt
votek

Sxnc*
Sept I

24,010
8,399
25,133
4,289

4,113
4',764

1,438

66 079 10,316

18.450

Sine

X^^.^

ottk
6.500
3,589
5.748
1,000

16,380
7.999
36,5/8
4 214

61,831 16 8321 64.071

A oantar la 98 pounds.

This statement shows that the receipts for the week
ending Oct. 14 were 235,000 cantars and the foreign ship-

ments 18,450 bales.
Manchester Market. — Our report received by cable
to-night from Manchester states that the market is firm for
yarns and active for shirtings. The demand for India is
improving. We give the prices for to-day below and leave
those for previous weeks of this and last year for comparison.

—We

1908.

1903.

8I4 lbs. Shirt- Ooten

32« Oop. ings,
Twist.

a.

Sep 11 d'e
••
18 9
" 25 S-'a

d.

«9^

common

d.

5

8
9

B.

08

f>8
©958 5
«9J« 6 7>«08
09S8 5 7 08

Oct. 2 8^
"
9 >-lll8»9k

Uplds

to finest.
8.

Mid.

<l

d.

6-36
4I9 6-58
6-20
3
6-04
2

4ifl

8H lbs. BMH- Ooten
82« Oop. ings, common Mid.
Twist.

A.

d.

lipids

to flnesl.
s.

7»« «8
5
7>4 «83ial6
7Si8 »bi9 15
73ia oSiia'S
'3, J o8iie 5

d.

2
3

B.

d.

07

8

f»7

9

2>«»7 9
2i«a7 9

d.

41B,8
6l6

4-84

4-78
2ii|97 9
OS lifl 5H0
4-72
98 l>fl 5-91 73j8i»bii«5 2i«'«7 9
16
Cotton Movement and Fluctuations, 1898-19C3.~New
est 41.
York: Latham, Alexander & Co. (Thirtieth Annual Edition).
Greenuood, South Carolina. — There has been rain on one — Messrs. Latham, Alexander & Co. have again favored ns
day during the week, the precipitation reaching twenty hun- with a copy of their publication, "Cotton Movement and
dredths of an inch. The thermometer has averaged 63, the Fiuotuations." This handsome cotton book is now in its
highest being 74 and the lowest 50.
thiitieth annual edition.
While all features which have

—

Charlotte, North Carolina, There has been but a trace
of rain during the week. The thermometer has averaged
66, ranging from 50 to 79.
The following statement we have also received by telegraph
showing the height of the rivers at the points named, at
3 o'clock Oct. 15, 1903, and Oct. 18, 1902,
Oct. 15, 'OS. Oct.

•

16, 'as.

Ft9t.

Feet.

Orleftna...^ ......^ .Above lero of g»iige.
M«mptalB.....M..^..„.Aboyesero of gftnge.

6-1
13-2

n9

......Above zero of gftuge.
•hreveport.... ........Above lero ot gaage.
letabxurg.
Above gero of gange

48

MbvUle..^^^

Government Weekly Cotton

50

64
90

1-6

161

149

Report.—The

regular

summarized

as follows:
Favorable \»eaTher for cotton plcklni? prevailed during the week In
moRl feptloDB, altbonjih i-llght delays ooouired In some looalltles aa a
Tesult of ehowerf
H'gh winds caused sume damage to crop In the
Eaetern States. In Texas the bnlk of the crop has been picked, es
Eeoiaily In Southwest and Central portions, and from one-half to threefthf of the crop has been jilekt-d lu many other sections. No top crop
Is reported.
The yield is generally below an average.

India Cotton Movement from all Ports.— The receipts
of ootcon at Bombay and Che snlpmeuta from all lndl>* ports
for the woek ending Oct. 15, and for the season from Sept. 1
to Oct. 15 for three years have been as follows:
1903.

Bombay

Wuk
8,000

1

M*pt. 1.

34.000

1902.

W««*.
1,000

1901.

Mtpt.

1.

17,C00

WtX.
12,000

5
5

6
6

made former editions valuable are retained, new matter is
introduced, including photographs of the Custom House,
Chamber of Commerce and the projected Municipal Building in New York. The statistical matter, which covers acreage, production, movement, consumption, etc., is brought
down to the close of the cotton year of 1902-03. As a book
of ready reference to those interested in cotton, the publication is of undoubted value.
Shippeno News. As shown on a previous page, the
exports of cotton from the United States the past week have
reached 272,748 bales. The shipments in detail, as made up
from mail and telegraphic returns, are as follows:

—

Total halM.
Liverpool, per steamers Armenian, 8,508
Bohemian, 8,915.... Cedrlc (additional), 100
17,528
To Havre, per steamers Crown of Granada, 3,182
La
Savoie, 496
3,678
To Bremen, per steamers Frledrlch der Qrosse (additional),
i25
150
25....KronpriEZ Wilhelm,
To Hamburg, per steamer Patricia, 100
100
FinTo Antwerp, per steamers British Princess, 2,083
land, 2,976
5,059
2,000
Ta Barcelona, per steamer Buenos Aires. 2,000
Lombardta,
To Oenoa. per steamers Hoh-nzollern. 827
8*9 ...Perugia (additior,al), 1,050
2,726
323
To Naples, per steamer Hoh«nzollern, 323
Nbw Obleans— To 1 iverpool Oct. 12— Steamer Orion, 5,800
0«!t. 13— Steamer Mexican. 6,300. ...Oct. 14— Steamer
29,850
Musician, 7. 200.... Got. l5-8teamer Indian, 11,050
2,000
To Belfast— Got. 15- Steamer Rathlln Head, 2,000
4,600
Ta London-Got. 15-8teamer Colonlan, 4,600
3,450
To Bremen-Get. 15 Steamer Noravalen, 3,450
Strabo,
it—
To Antwerp-Get. l4-8teamer
956
Got.
Colonlan, 700
1,656
To Genoa -Got. 16 Steamer Cerea, 5,929
6,929
Galveston -To Liverpool— Get. 10— Steameis Barbadian,
26,751
7.856; Iowa, 18,895
7,054
To Belfast Oct 8- Steamer Rathlln Head, 7.054
7,924
To Havre-Got 9— Steamer Basil. 7,924
To Bremen - Get. 9— Steamers Breslau, 12,601); Buokingham, 5,129
Oct. 14- 8tr. Manchesior Inventor, 7,949. 25,678

New Yoek—To

weekly cotton report issued by the Climate and Crop Di
vision of the U. S. Weather Bureau through the New Orleans Weather Office for the week ended October 18 was

€4anpt$ ai~

•'

Mint*
Mtpi. 1.

61,000

—

-

—
1

1
1

THE CHRONICLE.

-246

Total l>aU$.
Oalvkstoit— fCone/Mded>—
761
To Haiuliurg— Got. 12-Steamer WennliiKton Hal, 761
2.019
To Antwerp Oct. 13— Steamer Ihurland Castle, 2,019
Steamer
3,699
Maria. 3,699
T» Baroelona-Oot. 10—
11,44S
To G^-uoa -Oct. 15 -Steamer Fert, 11.443
10
300
-Steamer
Maria.
Venice
Oot.
300
To
200
To Trieste - Oof. 10 - Steamer Maria, 200.
4,10
MOBiLK— To Liverpool -Oot. 9—Steamer Ashantl, 4,101
4,491
To Bremen- Oot. 15 Steamer Yoru&a. 4,491
3,000
PknrjlColi.- To Antwerp -Get. 18— Steamer I'herapla, 2,000..
1,950
To Gcjnoo -Oot. 10 - 8t6»mer Anna, 1.950
Satxnnah- To Maccheater Oot. lO-Str. St. Mary's, 9,016
9,166
tipland and 1.^0 Sea Island
To Bremeu- Oot. 10— Steamers Ookenfels, 5,876; Tanagra,
Oot. 5— Steamer Tugela, 5.436
Oxeleund Oct. 10-Steamt<r OokenfcAls. iiOO

19,C63

8,101

200
To
100
To Rotterdam-Oot 15— steamer Tuifoia, 100
150
To Oottenburg— Oct. lO -Steamer Ookenfels. 150
To St. Petersburg -Oot. 10— Steamer Tanagra, 100
1,100
Oot. 15-Steamer Tngela, 1,000
300
To Miilmo Ooc. 10—Steamer Oikenfols. .*00
,900
5
To Barcelona— Oot. 14-8teamer Soperga, 5,900
4,905
To Genoa— Oot. 14— Steamer 8op«rga, -t.^'OS
Wilmington— To Bremen— Got. 9— Steamers Baton Bcklfoar,
28,000
l?,900; Baron Dalmeny. 14.100
Boston To Uvei pool- OiJt. 7— Steamer Mayflower, 4,611
12,614
Oot 15-8teamer Colambus. 8.003
200
To Genoa Oot. 9— Steamer Vancouver, 200
100
To Yarmouth— Oot. 10— Steamer Prince George. 100
Baltimore- To LI verpool— Got. 9 -Steamer Ro waumore, 7,291 7,29
3,200
To Bremen -Oct. 13 -Steamer Brandenl>ari{, 8.200
Philadklj'HIA-To Liverpool Oct 9-8tr. Weeternland, 2.640 2,640
£05
San FranOISOO— To Japan— Oot. 15—Str. Nippon Mara, aOO. ..

[Vol. Lxxvii.

Jute Butts, Bagging, &c.—The market for jute bagging
bef>n vtrj' quitt during the week at anchaoged prices,

has
viz

e^gc. for

;

\%

Jute bntts dull ac
baggidg quality.

lbs.

and

standard grades.

67gc. for 8 lbs.,

m@\%<i.

for paper grades and

2@2^c.

for

BREADSTUFFS.
Friday, Oct.

16, 1903.

Owing to the interruption to traffics by the reoeat storm
the arrivals of flour have baen light, Spoc stooks have
accordingly been reduced and prices for supolies for prompt
delivery have been firm and higher.
R fleeting the ad-

vancing tendency to prices for wheat, spring-wheat millers
during the latter part of the week were stronger in their
views and raised their limits 5@10 points. Easiness has
been moderately active. City mills have had a fair sale at
firm pnofs. Rye flour has been quiet but steady. Buckwheat flior has been in limited supply and has sold In jobbing lots at $3 20@2 30^ Corn meal has been in fair demand
at a sbade lower prices.
Speculation in wheat for future delivery has been fairly
active and for the week prices ehow a moderate advance,
O0 Mondayprices declined, influenced by bearish statistical
272.748
Total
developments, the world's exports to European markets
The exports to Japan slnoe Sept. 1 have been 300 bales being heavy, and the American visible supply showed a
from the Pacific Coast.
substantial increase. Subsequently, however, the market
Cotton freights at New York the past week have been turned firmer, and it appeared to be based largely on the
as follows.
strength of the interior cash market. The movement of the
winter wheat crop has been on a fairly liberal scale, but
Fri.
Satur.
Tuet. Wednet. TSurt.
iron.
by a limited movement of the
this has been offset
Daring the latter part of the
spring-wheat crop.
18920 18920 18920 18920
20
20
..e.
Liverpool
week tte Enrotean cable advices were firmer and there de20
20
20
20
20
20
BfAB0lie8t«r, ask.'..
veloped a moderate export demand at the seaboard market,
30
30
30
80
sua
e.
31»i
Havre
which had a marked itflaeccein favor of prices. Farm
SJ
30
30
80
SO
30
c.
Bremen
work has been reported as progressing favorably during the
26
25
25
25
26
S6
HamkarK, aaked.:.
week, and the new winter wbeat crop is reported as germin21
21
81
21
21
21
e.
Obent
atirg and growing well. Business in the spot market here
IB
16
16
15
16
c.
15
Am twerp
and at outports were moderately active during the latter part
28
28
28«S0 28930 88930 289S0 of the week, exporters being freer buyers; prices have adBaval, Indlreet-.e
30
EO
80
SO
80
80
Beval, via Camal.e
vanced. Today the market was fairly active and higher on
32
30
80
30
30
B«roel'na.lBd'r't.e.
32
stronger cable advices and reports of frosty weather in
26«27 26927 85937 85927 26927 25927 Argentina. The spot market was firmer but quiet.
e.
S«noa
TrlMta
e.
87930 27980 27930 27980 27930 279S0 •AlLTOLOtlHePKIOBa OF HO. 2 BHD WIMTBR WHBA.T IV
YORK
fAut-f
Wrx.
Hal
fust.
WtA.
Hon.
50
60
60
60
Javan (Tla 8nes).e
60
60

—

NEW

85Bb
85>4
86^
85
86i«
85i«
Sfi'^s
86H
84i«
82^8
83>4
88%
83%
83^
LiVKKPOOL. By cable from Liverpool we have the following May delivery In elev
oAiLT OLOsmo PBioas o> H) a spRino WHBAT IN oniOA.00.
statement of the week's sales, stocks, &c., at that port.

Qnotatlona are oenta per 100

—

Sept.

week

Sales cf the

Of wblfh
Of which speoalators took.
American

Oct.

l.OOC

Forwarded
Total stock- Estimated

Of which American—Est'd.
Total imDort of the week

Of which American

• * • > •

4,000
84,004
149,00<
67,00<
28,00<
17.004
98.00(
81.0O'

7,00«

47.00'
37,00.

afloat

Of which American

Oct. 16.

Oct. 9.

18.0m

19,00<
5,00<
30,00<
160,0O<
81.00<
21.00'

Actual export

2

a7.oo»
3,00<

2,00<

Sales

Amount

26

26,00

bales.
exporters took. ..

84

84ifl

In elev

85^

85

So.i.

Hon,.

Tuc*.

Oct. delivery In elev
Dec. delivery In elev
May aeuvery in eiev

79*4
9%

78'8

79 >«

781*

79\
79H
79H

Oash wheat f.
Dee. deUvery

lbs.

87,uO(i

2,000
1.000
20,000
3.000
37,000
127.000
53,000
17,0OO
17,000
162,000
141.000

86,0O0
8,000
26,000
5,000
46,000
119.000
44,000
42,000
28.000
858.000

236 ooo

o.

b

—

78 >«

"J

Wed.
7998
787«

Tk.uri.

80
79<«

Pri,

8m
80i«

80>«
79%
moderately
active.
Early
have
been
Indian- corn futures
in the week prices declined. The monthly Bureau report
issued after the close of business on Saturday was figured as
indicating a crop of 2,300,000,003 bushels of corn, and this
had a depressing influence, as the report was of a more
favorable character than had been generally expected. Subsequently, however, the market turned firmer. Advices from
the interior reported decreasing recfcipts, and also stated that
there was active buying and free shipments to the seaboard

73%

Early in the week the export business at the seaboard markets was quiet, but during the second half of the
week shippers came into the market as fairly free buyers,
and prices advanced. Today the market was easier under
the favorable crop indications. The spot market was moderately active at lower prices. The sales for export here and
markets.

The tone

of the Liverpool market for spots and futures
each day of the week ending Oct. 16 and the daily closing
prices of spot cotton, have been as follows.

Market
12:30

p.

Monttay. rttetday Vcd'dav r*iirt(t'v

ga('<iav.

Spot.

A

Fair
baslnesi
doing.

unlet.

M

'^idav

Modemre Moderate Uoderate Moderate
demand.

demand.

demand.

demand.

Mtd. Upl'ds

5 78

6-82

690

5 94

4,000

7 COO

684
6000

8 88

Sales
8peo. & exp

6,000

8,000

7,000

600

EOO

600

600

600

500

FuturcM,

2dl pU.

opened.

|

1 pt. ady.

Steady

st'dy

3 pts.
sdvanoe.

oartlally

advance,
I

Market,
4 p. M.

Very

iteady at Quiet at

Market

I

ai

steady

at

6(^7 pts.

2® 8

advanoe.

decline.

pis.

Veryst'dy

6&7

pts.

advanoe.

steady at Onlet at
Qolet at {steady ai Stead r
Steady at
\=>w% pt8.2d3^ pti. 2^-iH pts. eas << pti. UDCh. to 9dim pts
kdTanoe. decline. adTanoe. advance. 2 pts. adv. advance.
'

I

i

i

I

The

prices of futures at Liverpool for each day are given
Prices are on the basis of Uplands, Good Ordinary
clause, unless otherwise stated.

below.

Sat.

Mon.

Ta«B.

Oct.XO

OU 12

Oc«.

18

Wad. Thnrs.
Oct.li.

Oct.

16

October

6
O«t.-Nov.... 5
KoT.-De«....,6
Dee.-Jan.,.. 4
Jan.-Feb.... 4
Feb-.Mch.... 4
Mch.-4pr11.. 4
April-May -.4
May-lane... 4

Jane^nly.
Joly-Aag
Aug.-aept

.

24
02
00
99
96
96
97
93
99

d.

d.

d.

\

d.

d.

5 28 5 29 5 26 6 30 6

d.

d.

d.

d.

Oct. 16.

Mb 5 36 6 85 6 38

d.

5 43
15 5 14 r. 17 6 24
10 5 09 611 5 18
08 6 07 6 09 5 16
07 5 06 ^ 08 5 15
08 5 06 5 08 5 15
07 6 0S 6 07 6 08 5 16
07 5 08 5 08 5 09 5 1«
4 98 4 99 4 97 5 02 60( 5 08 6 09 6 08 5 09 5 16

5 07 5 06 5 03 6 09
6 015 014 98 5 04
5 00 4 99 4 97 5 02
49349-> 4 96 5 01
4 98 4 93 4 96 5 01
4 99 4 99 4 96 5 01
4 99 4 99 4 97 6 02

2>

5 Of 5
6 0'/ 5
6 00 5
4 99 5
4 0( 5
5 00 5
5 0( 5

14 6
09 5
07 6
06 5
06 6

d.

6 47
5 28
5 22
5 20
5 19
5 19
6 19
8 20
6 20

....

...«

••.•

....

iMh

b
Deo deUvery In elev

corn

f.

••..
.

••>

....

....

63>e

o.

Oil

Deo. delivery in elev

VOKK.

Wed.

TKurt.

Fri.

62%
61%

63%

53%

62%

62

60

49^8

81>«
49>«

45»4

44i«

52i«

IH OHIOAOO.
Pri
Wed. Thur$,
45ie
441*
iBH
44''8
45*8
45%
48''8
43^8
43%

44>4
43%
market have been
Western
delivery
the
at
future

May deUveryin
Oats for

4459

45<«8

NBEW^

Tuta.

6138
52
49S8
MaydeUvereylnelev.... 50»«
49HJ
DAJLT OLOSIHO PRIOBt OF NO. 3 MTZID OOBH
Hon.
Tue$.
Sat.
45
45«8
<i^
Oct deUvery in elev
elov....

and there has been a gradually sagging in prices.
Speculative holders have been liquidating, prompted by a
less active cash demand and a freer movement of the crop.
Locally the spot market has been moderately active and
prices have held to a steady basis. To day the market was
quiet and easier.
IN
YORK.
DAILT OLOUHQ PBIOBI OV "OATB ~
—
Wed -.
PT\.
iron. fue«.
Sal.
41
41is
41%
41%
41%
41%
5fo. 1 mixed In elev
43
43%
43%
43
48%
48
«o. 8 wUte in elev
DAIJ.T OLOBiMO raioia or ho 2 MIXBD OATB IM OBLIOAaO.
Pri.
ZAwrt.
ire<t
Sat.
Hon.
Tuet.
quiet,

-

....

36%

37%
38^

Oot. delivery in elev
Oeo. deUvery In elev
May deUvery In elev

37*4

87%

88ifl

37%
37%
37%

86%
37%
37%

36%
36%
37%

36%
3«''8

37%

Following are the closing gaotatlons
rcouB,
.....I. .~.. 92
•aperflne. ..^ ..... 2
extra. No. 8. . .... 3
3
extra. No. 1 ..

rue......

.^

aiears........M..~. 8

StraigHta...^..... 3
Patent, nprlng.... 4
.*•

Mon.
53

aat.

NBW

Frl.

12ifl'
4 I2ifl| 4 12>t| 4 12i«
12>«| 1 12ifl| 4
p.M.;p.M. P.M.,P.M- P.M. P.M. P.M. P.M. P.M. P.M. P.M. P.M.

d.

at outports were 200,000 bushels.
nAILT ai<OSIIie PRIOBS Or !«». V «IIXBD OOSM

90
95

«2 95
93 10

10
25

f>3

20

«3 40
60 «4 15
85 94 65
75 «& 45

Patent, winter. ...f4
4
Bye floar,aaperflne 3
Buckwheat aonr.. 2

OltymlUo, patent.

16
76
25
20

Corn meal—
Western, eto..... 8 16

«4
•6
•3
•3

35
35
60
40

•3 20

3 20
Brandywlne.
(Wheat floor in saoka seUi at prices below those for barreU.)

^

:,

Oct.

..

baaQ.—

H.DaL,No

Oom, p«r baah.—

e.

e.
f.o.

Weatern mlxad...

b
1
V'thern Dal., Mo.l f.o.b.91'8
B«d wlntfli. No. S t o. b.86S8
Mort'n Dal. No. 8. to. b.83»«
Okta— KIlx'(l,p bash. 40i««43i«
White
.,,^. 42 046
41 •42
No. % mixed
No. 8 white....... 43 •44

e.

e.

.51

063

t.o.b.S2%

No. 8 mixed......
No. 8 yellow...
No. 8 white
Bye, per bash—

f.

O.

Western ....... ....

-67m»62
.57

f»68>«

.55
.43

«63
•52

Barley— Weat

Report—The

report of the Department of Agriculture for October 1
reapectiug cereal crops was Issued on October 10, as follows:
The monthly report ot th« Chtet of the Bureau of Statistics of the
Dtipartraent of A?rloaItare will show the condition of corn on October
1 to have been 80-8, as compared with 80*1 one month ago, 79-6 on
Oct >ber 1. 1902, 52-1 at the corresponding date in 1901, and a tenyear average of 77-7.
The foUowinj? table shows for each of the twenty principal
corn States the condition on October 1 of the last six years,
with the ten year averages:
CONDITION OF CORN.
Tenyr,
1903.

1901.

1902.

Kansas

80
78

91
76
104
87

51
59
31
21

Indiana.

81

97

5X

Nebraska
Ohio
Texas
Tennessee
Kentucky

76
70
90
84
80
79
88
94
87
86
9i
84
86
82
71

83
88
38
75
82
86
87
57
87

35
63
46
54
49
93
34
57
89
7S
66
60
69
57
20

82
71

nilnols

Iowa

.......

Missouri

Pennsvlvanla...

Arkansas
Mississippi.....

Virginia
Qeorjfia

Alabama.
North Carolina.
South Dakota..
Boath Carolina.

Oklahoma
Av'ge U. States.

80-

6,S

53
84
53
82
79
79-6

1900.

52-1

1899.

1898.

84
80
89
58
91
57
92
97
96
101
90
90
97
95
84
95
90
82
89

86
86

91

100
84

81

93
93
83
86
75
68

52
98
73
95
72
67
83
73
74
50
62
78
66
65
90

70
83
78
84
8Z
75
78
79
81
72

fiO

7i
78-2

82-7

The indicated yield of oats for the whole counfry for 1903
makes the following comparison with the results for the four
preceding years
OATS CBOP FOB FIVB TBABB.

f.0. b.55

Feeding:.....

Stales.

1247

b.&2^

State and Jetuy.

Agriccltural Department's October

.

1

THE CHRONICLE.

17, 1903.]
OBtia.

Wbeftt, p«r

:

:

82-0

averges

83
81
81
«i
84
65
84
71
78
80
84
7*
76
84
84
79
83
74
80
54
77-7

The preliminary estimate of the average yield per acre of spring
wheat Is 14 4 bashels, subjeat to revision when the final wheat
estimate Is made.
The following table shows for the States having one hundred
thousand acres or upwards in sprini; wheat the average yield per
acre this year and the lla»l estimate of average yield in 1902.
1902.
1902.
1908.
1903.
Slates—
Bush.
Bush.
Bush.
States—
Bush.
13-9 Wisconsin
14-6
18-1
18*1
Minnesota
.
15-9 Oolorailo.
13-3
180
Norih Dakota
26 6
.
10-9
14-2
12 2 Kansas
171
.
South Djkkota
12-3 Utah
21-2
12-1
22-6
Iowa
.
22-1
12-6
IS 9 Idahj
25 2
Nebraska
.
20-8
20-5
Washington
17-8
14-7
17-8
14-4
Oregon
United Statea..
The average quality of spring wheat Is 85*5, aa compared with 87 7
.

one year ago.
Tne indicated production of wheat for the whole country
for 1903 makes the following comparison with the results for
the four preceding years.
WHEAT CBOP FOB FIVE TEAKS.

Indicated
Produet'n,

Oat*.

J»fO-

Pro-

Pro-

daetion.

duction.

duction,

Pro-

I

1908.

1908.

1901.

1900.

duction,
1899.

Bushels.

Bushels.

Bushels.

Bushels.

Bushels.

Illinois

9-*,526,000 168,460,4-28 118.531,003 183,648,884^ 127,878,948

Iowa
Minnesota

9S,S40,000 124,738,337 122,301.564 130,678,138 180,985,749
68,609.000 82,860.607 65,734,087 41.907,046' 52,e»-8.410
70.871,000 96,037,810 66.647,381 61,971,652' 67.687,380
20,660.000 31,529,188 17,83 i,410 43,003,943 89,129,410
80,758.000 4'',409,791 85,217,378 40,340,634 38,945,976

Wisconsin

Kansas
Ohio
Missouri

Pennsylvania

17,893.000
34,578,00J

27,816,166

10,197,746

24,695,873

20,299.860

46,036,182

38,000,872

39,148,032

44,538,974

45,401,608

New York

44,574,000

62,B82,6-'0

83,665,660
28,049,687

Michigan
Nebraska

29,586,000

40.340,187

28,746,003

33,689,6361 30,599,048

53,099,000

62.121,601

89.065,892

37,778.572

Indiana.

29,468,000
21,838,000
16,662,000

48,666,685

89,63 J,022

29,437,402

2:?,576.6t8

44,866,035J 34,801,248
6,299,2S4[ 17,987,670

24,100,844

19,564,461

12,653,8<i6

16,832,278

31,568.001

20,807.361

13,6fl2,67H

28,278.232;

17,067,975

North DakoU
Sonth Dakota.
Texas

51.474,120

others.

675,504,000 884,688,123 845,807.476 782.898,241 [718.327,208
112,OS6,0C0! 108.809,591 91,001,8tH 86,827,748. 77,860,505

Total 0. 8.

7t.7,589.o00IH87,842,712 736.808.784 809.125,9P9l706.177,?18

Total...

an

of the yield per acre of barley is 26*4
year ago, 2»-7 in 1901, anl a ten-year
average of 23 8. The average for quality la 85"4, against 87-3 last
year and 89-2 in 1901.
The indicated yield of barley for the whole country for
1903 makes the following comparison with the results for the
four preceding years:

The preliminary estimate

bushels, against

290 one

BABLET CBOP FOB TTYE TEABS.
Indieated
Producl'n, Producl'n, Produel'n.l Prodicct'n, Produet'n,
1901.
1900.
1899.
1902.
1903.

Barley.

Bushels.

California

..

Iowa
Minnesota
Wisconsin

..

..

No. Dakota..
New York...

Kansas
So. Dakota..

Washington.
Nebraska ...
Michigan

Oregon
Ohio

Vermont

. . .

Idaho

Bushels.

Bushels.

Bushels.

Bushels.

30,878,000 29,751,124 28,334,410 14,856,170 22,239,776
11,295,000 13,505.024 12,493,368 11,708,8221 12,011,000
27,789,000 25,956,245 21,680,617 7,275,251 8,144,126
13,37i*,000 16,508,630 13,419,256 6,259.179 7,670.550
12,463,000 15,861,557 7,258,934 1,998,840! 5,909,352
2,926,000 3,359,210 1,683,808 3,751,924 4,052,472
4,402,000 2,223,024 2,187,252 4,186,802 3.183,165
9,106,000 8,927,751 6,52^.566 1,543,571 2,410,354
6,140,000 6,121,278 5,803,118 1,386.267 1,410,360
943,176
587,382
1,702,000 2,033,256 1,188,888
9ls,680
927,144
945,000 1,106,277
904,808
797.916
905,928
2,058,000 1,988,136 l,8-<8,234
76-1,422
687,000 1,024,(07
622,566
603,400
372,279
500,811
538,904
393,000
384,734
l,43ti,000 1,748,945 1,378,900
405,510
399,012

Total
125601000 130497201 105896530 56,887,331i71,248,100
All others... 6,188,000 4,456,822 4,036,394 2,038,502 2,133,463

131789000 134951023 103932924 58,925,833 73,381,563

Total U. S

The preliminary estimate of yield per acre of rye Is 15'4 bashels,
against 170 lastyear, 15*1 in 1901 and a ten-year average of 14*8.
The average for quality is 83-4, agaiust 91-8 last year and 89*4 In 1901

The indicated yield of rye for the whole country for 1902
makes the following comparison with the results for the
four preceding years

Pro-

Indicated

ProdueVn

Whtat

duction,

Pro-

Pro-

Pro-

duction.

duction,

duction,
1899.

1908.

1902.

1901.

Bushels.

Bushels.

Bushels.

Ohio

88,301,000

38,333,379

33,53 J,551

Indiana.

83,890,000

33,48 1, 448

Minnesota.

70,6i9.000

1900.

Bushels.

36,998,006

31,932,890

Bushels.
8,522,876
6.411,702

79,762,404

80,102,627

51,509,251;

68,223,581

BYE CROP FOB FIVB TEAS8.
Indicated
Produet'n, Produet'n, Produet'n, Produet'n, Produet'n,
1902.
1901.
1900.
1899.
1903.

Bye.

25,361,175

Pennsylv'a ..

New York

Kansas

87.451,000

45,827,495

99,079.304

82,488.655

36,46^,044

Calif omla.

3:^,088,000

22,374,201

34,743,111

28.643,628

33,743.909

lUlDOlS
Horth Dakota....
South Dakota....
Mlasouri.

16,574,000

32.601,932

80,052,058

17,982,068

12,685,410

57,«55,0O0

62,872,241

59,310,669

13,176,213

51,758,630

Illinois

18.621.000

48.973,033

51,662,307

20.119,684

37,728,339

20.671,000

66,^63,494

18,846,713
9,271,764

11,398,702

Minnesota
Michigan

Michigan.
PennsylTania..

. .

Oregon
Wisconsin
Nebraska
Washington
Iowa
Total.-

,

All others...

,

15,'S.31.0C0

18.693,218
24,628,171

28,660,797

20,231,334

20,472,923

13.514,000

Nebraska
Ohio

15,512,460

17,153,065

16,198,012

21,949,536

California...

8,372,000

9,665,094

7.576,874

13,166,599

11,773,382

Indiana

i2.152,000
26,521,000
18.525.C0

62.726,451

42,00ti,885

21,801,900

20,791.776

Maryland

23,672.187

3t,61S,9«8

25.098,661

21,710,391

Virginia..

11,869,245

21,148,101

21.798,223

18,195.489

13,335,193

529.857.000 575,242,453 61«,325.2a8 378,245,284 445,574,4ti9
189,171,000! 94,820,55 132. 13 J, 980 143,984,221 101,729,357

The preliminary returns Indicate an oats crop of about 787,000,000
bushels, or an average of 284 bushels per acre, as compared with
34-5 bushels one year aeo, 25-1 In laOl and a ten-year average of 278.
The following table shows for each of the ten principal oats States
the averages of yield per acre for the last three years, with tha tenyear averages
Ten-year
Illinois

Iowa
WIsoongin
Minnesota

Nebraska
Indiana

New York

,

.

85,036,000

In 1903.

StaliS—

Iowa
Kansas

31,137,097
13,702,939

Total United States...* 669,028,0031670,063,008 743,160,218 522,229,505 547,303,848
•Of which 410 627,000 bushels winter wheit aad 248,501,000 bushels spring

wbest

..

Wisconsin...

1903.
Bushels.
26-6
25-5
,.... 32-8
32-3
29"0
24 4

aiO
286

Pennsylvania
Ohio
Michigan
United States
The average for quality

80-6

305
28-4

la

1902.
ushels.

37-7
30-4
39-9

390
84-6
3i-4

400
370
41 1
39 7

1901.
Bushels.
28-2
29-8

averages,

291

33-6
32-2
24-1

82-1
19-8
28 6
Sl-6
18-9
31-5

29

34-5
25-1
79-9, against 86-7 in 1902 and

Bufihelt.

31-4

314
300
28-7

28

1

32-7

301
27-8
837 in

.

New

.

Jersey.
. .

. .

..

Total
All others...

Bushels.

Bushels.

5,741,000
2,402,000
5,229,000
1,099,000
1,335,000
1,221,000
1,656,000
2,278,000
938,000
2,229,000
229,000
836,000
469,000
284,000
309,000

6,076,160
2,884,262
6,209,63.1

1,239,941
1,056,288
1,496,848
2,163,167
2,779,655
1.125.286
3,250,822
272,772
808,908

574,606
293,174
251,011

Bushels.
6,099,176
2,431,427
6,121, S49
1,409. 9 3iJ

1,271,456
1.281,0.'H5
1, 891,07
2,195,998
1,03^,620
2,332.125
-i

26607J
845,914
59-t,5l6

314,122
318,936

Bushels.

4,416,299
3.189.165
3,010,437
l,80o,570
1,922,481
1,270.684
1,036,444
1,041,068
1,029,000
867,237
513,023
502,580
485,72 i
408.028
370,125

Bushels.
3,936,090
5,633,600
3,073,125
2,029,860
1,545,852
1,154,325
1,112,472
1,097,012
1,000,785
997,104
625,920
547,080
464,633
353,276
330,471

26,255,000 30,482,533 27.416,9^0 21,868,863 21,901,605
3,118,000 3,148,059 2,927,880 2,127,064 2,060,136

Total U.S. 29,373,000 33,630,592 30,344,830 23.995,927 23,961,741

Exports of (jlrain and Flour from Pacific Ports.— The
exports of grain and flour from Pacific ports for the week
ending Oct. 15, as received by telegraph, have been as
follows: From San Francisco, Oct. 9, to tha United Kingdom,
12,000 bushels of wheat,

and

to China acd Japia, 19,000 bbls.

of flour; Oct. 10, to the Cape, 61,003 bushels o? wheat and
12,0)0 bbls. of flour, and on Oct. 1*, to Coina, 85,000 bushels
of wheat.
Combining these figures with those for previous weeks, we
have the following, which covers the exports to foreign
countries for the period since July 1. 1903, comparison being
made with the corresponding period of 19)2.
Barley,
Oats,
Sye
Oorn,
ixports
Wheat,
Hour,

from—
San Fran.
Pnget 8'd.

bbls.

bush.

bush.

599,000
105,800
396.000

7,400

Portland..

301,700
316.000
329,700

Total....
Tot. 1902.

847,400
900,000

1,070,800
7,100,000

7,400
4,755

bush.

bush.

2,185 2,868,003
34,000
119,000

hush.

363

99 000

863
121,185 3,001.000
506.000 4,700,000 105,000

[Vol. lxxvii.
THE CHRONICLE.
The moyement of breadstuff to market as indicated In the
THE DRY GOODS TRADE.
prepared by as from figures collected
atatements below

1-248

s

is

br the New York Produce Exchange. The receipts at
Western lake and river ports for the weekending Oct. 10,
and since Aug, 1, for each of the last three years have been:
tUctiptt at-

WTuaL

TlOliT.

ChlosKO

HUwankee..

857.8'9

18.978
138,000

Dalath

...

Louis....

Peoria

150,800
4«9.CS0

89.850

85.000

137 600

6.000

19,158

56,398

19,207
62.386
9.750

88,820
408.9J1

74.611
240.535

8.800

835.000

889,140
164,300
119.618
99.375
407,730
214.200

1.003.8O0

118.600

181200

Detroit

Cleveland

55,100

1.95 J.SH)

Toledo

Kansas

Barlty.

Oati.

1

>.898,179

MlQueapolls.

St.

Com.

RVI.

BMs.l9eUM BwK60lb* Buik.5« lb$ 'siMh.SSItx Butk.i»lb$ 5u.5a lit.
189.626
816076 8,^1 1,630 1.754.976
955,097
40.900

City.

634.500
756,744
616,960

61,803
32.480

6.900

6.850

ii8,roo

37,810

85,601

4,800

80,100

—

Tot.wk.l90J

~7n.78i

6,706.040

8.144,234

4.439.362

8.101.301

810,233

Same wk. 'C2.
game wk. '01.

S21,4I0

7.ei!0.S0l

1.236,687

8,557,099

2,288.537

607.4S2

7.4B2.813

2.891.868

2,985,978

1.835,031

87U.211
193.817

B6.002.8r.9

1902.

4,2eS,616
4,=4T,C03

89,955.308

1901

4,033,231

S.^aaT.Ti"

Binct Aug.

1.

MOS.

16,047.508 1.700.414
12,644,62i 8,128.470
12.850.7S6 8.694.643

39.844.182 35.S6l,fl78
17,87 7,216 60.059,410
40.666 094

8J.6''4.0B9

The receipts of flour and grain at
week ended Oct. 10, lb08, follow:

the seaboard ports for

the

/isur,

auU9t$€tHaw fork.
BostOU
MoDtreal

169.443
42,963
6i,H«9
ee.ois
107.143

^.

Pkiiad*!ps.:a.

^.

Baltimore

.«.,

Kiskmond
Maw Orl«*D*
airport News

Oar»,

tVlktmt,

kMs.

.^
„„

kwtk.

liwsk.

418,200

875.4S0
188.293

14l,»*;9

4;7,6^7

80'<.^5S

lki,»<09

414.647
338.479

48

2<!.0U
74.500

18,3)7

lesooo

7,000
25,714

533.300
106.OCO

72.0.0

4,i

Norfolk
daiTesiOB
Portland. Ma
Mobile
Port Arthur

Oett,

Borifl,

ktislt.

kU(1l
118.625
14,9a4
1,260
18,030

684,700
157,138
6«,294
«8,895
65,885
88.788

41.9fl0

New

York, Friday, P.

It is still a waiting market in cotton goods on the part of
both buyers and sellers. There has been somewhat more inquiry during the past few days, but actual transactions have
not increased in volume and are confined almost entirely to
purchases for quick delivery, as has been the case for so long
a time back. It Is clear from the inquiries which have been
made that buyers are not disposed to accept the present range
of prices in the more staple lines as a satisfactory one upon
which to cover future requirements, even where there has
been a decline already from top quotations. It has also been
disclosed that sellers have, for the time being at all events,
reached the limit of their concessions oi such lines when it
comes to a question of goods to be made. Thu8, while there
is some irregularity in stocks on hand, the market is steady

The print-cloth situation is unsatisfactory from
the standpoint of the mills, and there are rumors of a contemplated reduction in wages at Fall River. There has been
no change of any moment in the woolen goods market.
There is talk of anotbier large auction sale of silks impending,
but no announcement of such a sale has been made the market for silks is in a weak and unsettled condition.
Domestic Cotton Goods. —The exports of cotton goods
from this port for the week ending Oct. 13 were 1,C88
packages, valued at |125,623, their destination being to the
points specified in the tables below:
for futures.

;

7,089

27,949

828

8'<!.800

2,S78
1.330

New Tokk

Total weak

478.221 1,066,769
677,8(7 3,967.064

2.164.598
384.348

Week 1002..
XoDai ^receipts at porta from Jan
follows for four years:
B«Mi»t •;—

i

140,880
41.8^5
69 487 19J,7<:6

1,110.444
1,110.401

to Oct, 10 compare as
1901.

1902.
16,395,797

1908.
bbls. 16,2i8.104

rioar

1600
17,0i8 409

17.^98,717

areat Britain. ..
„..
other Sniopean. ..^.. .m,...
Uhlna
.
IndU.....
..».., „„,.
Arabia
^,„
._

Wnsat

bnili. 77.C2<.f6l

"

CorE
Oat
Barley
Kye.

108.448,786
13,843,146

81.3'S7.3S7

•

"
••

Weak. Minetfan.x

1.702,181
3.498 637

130,465,657
97.037.617
eo i;S8,689
3.764.007
3,248.203

80 078,613
189.170,046
63.499.686
8.S59,Bs4
8.2i8,103

168.644,624

895,632,0£3

803,852,332

41.4B'fUl3
8.7S7,240
8.686,118

40.l31.8-ia

808,182.817

The exports from the several seaboard ports for the week
•Ddiug Oct, 10, 1903, are shown in the annexed statement:
^k«at.

fnm- bvik

141205

Boston

0«rn,

#let«r,

)u«)i.

bbU

355,647

83.088
35,720
2.878
70,480

9-<.654

Portland, Ma. 105,000
rfeUadalpkta.
24.000

Baltimore
Maw Orleans
Norfolk

.

New">'rtNewB
Montreal
..

322.789

40,000
14l,O0U

10.t39

198.681
447,840

""8.251

Psai,

Hvs.

iutH.

78,471

6.013

8.585

"eVoVi

1.801
I7.i6a
8,^13

3011.580

25.714
153.5t9
61,600

0«t«,
hu$h.

• •

.

••••

13.17S
1.389
12,6tU

Quebec

Total week 1,199.883 1,28 \657 2*8,554
76.471
8.571
14,678
8sm« time '08..2,U>i7 .200 135,585 878.644 390.673 201,886
5.8^2
8,562
The destination of these exports for the week and since
July 1, 1908, is as below:
.

<

MX90TU for
line*

Flour.
tr»«k Sine* July
Oct. 10.

l,

1003.

Juiv 1 tobblt.
United Kingdom 107.680 89«2.~78
Oontinent
62M.908
9,553
\b,t>Oi
8. * C. Amerloa.
249,b37
lb.78l
Wast Indies
85^852

Wluat,

.

.

Wetk
Oct. 10

buih.
648.433
65^,050

,

Bint* July
1903.

bush.
18.371.815
8.010 668
6,988

Wtek

Corn,
Sintt Jmlv

Oct. 10.

l»uh.
684 538
547.322

1908.
bus?i

16,888

6.144,000
8,199,134
08.H74
317.488

B70

B3.t)78

l.DitO

12
18

..

"'l7

..„ ...,».
Oentral Amerloa. ^^ ..^ ....
Boatb Amflrlca..^.......^.
other Ooantrlet. ,_,.. ..... ....

869
50
218
617
887

TeSB

255,996

_

Africa

10

Wnat ladles...
...^

Total
"

TotalaralB

WMh and

1908.

Wetk. gineeJuH.l
1,621
1,118
112,883
11,620
31,925
8.083
22.662
2,418
9.S90
46,659
8,ai7

Uexloo....^.

OalrestOD..
Mobile..

1903.

to Oct 12

6,003
12,50j

Mxfort*

Oct. 16, 1903.

2,218

UneMo

Hsw Vork

M„

63
22

1,689

7,386

380
81
402
669
363

99,666
18,140
18,476
9,843
18,841
1,807
7,744
40,931
11.271

13,278

229,093

256
2,240
1,476

990

The value of these New S'ork exports since Jan. 1 to date
has been |ll,598,77!i in 1903, against 110,595,027 In 1902.
The purchases of beavy brown sheetings and drills for export have been in small lots only, there being no demand for
China. The home trade demand has been of indiif erent extent only and the aggregate buslcegs quite moderate. The
tone of the market is barely steady for spot goods, but
sellers decline to make concessions on forward contracts.
Orders for ducks are moderate at previous prices. Bleacheries are said to be delivering bleached cottons slowly, and
this keeps stocks ou th^ market in small compass and
prices steady in face of restricted buying in all grades.
Wide sheetings, sheets and pillow cases are scarce and firm.
Cotton flannels and blankets are unchanged in price, with a
quiet movement. There are no lower quotations made for
denims, but the tone of the market ia easier than of late for
eujh goo^s as are on hand. In o'her coarse, colored cottons
the market is steady, with a quiet business pissing. Kid finished cambric are dull and unchanged. Staple prints show
no change in condition they are in quiet request, but well
;

16,479,493
135,685
1,106.220

firm.
Fancy calicoesjare dull and
Ginghams continue scarce, and in some staple
featureless.
Print cloths are in slow demand
lines tend against buyers,
but unchanged in prices. Regulars quoted at 8%c.

visible supply of grain, compriiaing the stocks in
granary at the principal points of accumulation at lake and
aeaboard ports, Oct, 10, 1^08, was as follows:

Woolen Goods The amount of business done in men's
wear woolen and worsted fabrics during the past week shows
that buyers are still averse to reordering to any extent, their

Oern,

purchases being confined to limited quantities, ev^n in
woolens, which are in comparatively best request. Sellers
have been looking for a fair-siz^d supplementary demand by
this time, but buyers In many instances declare they are
held back by the delays in the deliveries to them of sample
pieces, and are thus prevented from fairly testing their trade
with made-up garments. There have been some cancellations coming to hand, owing to these delays in deliveries,
but not enough of them to make a feature of the situation.
The persistency with which buyers neglect the bulkof theofferings of worsted fabrics continues marked and aggravates an
already unsatisfactory situation. Worsteds are very irreguThe demand for overcoatine;s and cloakinga
lar in price.
has been quiet in all lines and tbe tone of the market is dull
and barely steady. The woolen and worsted dress goods
market ia generally steady in tone, but the demand has been
on a quieter scale than of late ; sellers are, hownver, as a
rule satisfied with the progress to date. Flannels and
blankets are quiet. Carpets generally in limited supply and

Br.N.Am. Colo'i
Otker eosntrlai
Total
Total 1001-03....

6,C50

8
248,554
&7«.014

44.697
174.a27

140.168

4,3'<S,S87

1,199,3«

4,685 62)

2.8<7,200

34.568.017
47,606 693

63!j,839
1,230,65''

The

i» star* at-

kuik.

•wTork
Do

676000

iutX.
288.000

18,000

afloat.

Boston.
PklladelDkia..

160..^oO
2>!H.aC0

Baltimore

77e.o0C

Maw Orleans..• <«»•<• e£9 030
SaiTeston
1,886 000
"
69
Montreal..
1.000
Voronto....

—

iuih.
007.000

.BVti

£«risi

»«sk.

i'ttsi'.

5,000

21, OOC

7.000
71,000

1,000

48.000
ilO.uoi/

158,000
aot.ouu

04,000
95.UC0
172.00V

so.a-ic

12>.O00
69 000

231.000

l,274,«o6

61^,000

2,000

10,100

'84,000

ioa.bdc

'21

ij'o'o

'18,000

55.o'ib

8.000

2,000

Buffalo

68i,OiiO

volado

501,000

493,00(1

1.875.')CJ

57 ju-

i23,bo6

347,000

2,42S.300

—
—
—

1.718,000

887. odt

451,000

197.000

iio.obd

893,

'/o*o'

"e.coo

Do afloat
Do afloat
•sUolt
Do
afloat
Okiaaco
Do afloat
MUwaaxee
DO

afloat

rt.Wlli'mAPt.AjrtJi>r

Bulatk

Do

Do

1,000

407 008

101,000

"l8,'()00

1,090, dJO

8),00C

72,000

90,000
87,000

908,nnr
1,000

I,e07,)00

422 ouO
40 300

84 OOC
8.000

l.OOO

Sie.ooo

"se.oob
80.000
64,000

i.SOO.ooo

2. 7 i 7.000

t!40,C03

481.000

283 000
68 000

70 000

1C4 ooc

1,492 0O<

afloat

k«DsasCity
Peorlt
Indianapolii

On Mississippi BlTar
OaLakas
oa ssnal and rlrer.
.

Total
Total
Total
Total
Total

608,0)0

4.ie9.00C
„ 8.811,000

afloat

Mlaaaapolls
8t, Looli

946.000
l.470.00«

Oct. 10, 1903.
Oct.
3. 1M03,
Oct. 11 100!.
Oct. 12. 1901.
Oct. 13, 1900.

—

.

2O.'<«H.0OO

10,233,000
28,111.000
38.1! 'W.I KX)

f6.97,-,000

f.sos.oro
e.ubo.ooo
8.611.000
13,414,000
811,000

88,000

170.000

6,8^1,000
6.463,000

068.000
KH4.000

000

l.O'^fi.OOO

7,7f.9.000

i,7H8,'iOO

18.238,000

98t).0<

H.S.'iM

4.050,000
8,347,000
a,Hai.ooo
2.036.000
2,848.000

under

sellers' control,

and

—

firm.

P'OREiON Dry Goods —Fine grades of fancies in lightweight dress goods are in fair dem ind, with staples quieter.
The market shows a generally firm tone. Silks are inactive
and very irregular in price. Ribbons also irregular, with a
quiet demand. Linens are firm without special feature,
burlaps quiet at previous prices.

.

Oct.

THE CHRONICLE.

17. 1903.]

IM9

Name.
788..Haiumon. Ohio
724..HKnoook Oo.,Ohlo
Page.

Bir^t

City D^r/ii^TMswT.

7^1^35

Rale.
4i«
5
990..H»rlior Sch. Dlst, O... 4»fl
.

.

An

index to all the news matter appearing in this Departfor the period from Jaly 4. 1908. to Sept. 26, 1903, inclusive, was pabliehed in the Cheoniclb of Oct. 8, 1908,

ment

pages 854, 855 and 856,

"We present herewith our detailed Hat of the mnnU
clpal bond issnea put out during the month of Sept-

ember, which the crowded condition of our columns
prevented our publishing at the usual time.
The review of the month's sales was given In our
Issue of October 10, page 988. The figures now given,
however, differ slightly from those of a week ago,
several belated returns havlDg been received since
that date. The following is our usual table. It gives
the prices paid for September loans to the* amount of
$10,022,369, issued by 177 municipalities. The aggrefor which no price was reparted

$329,-

is

720 and the total for the month $10,352,079. In the
case of each loan reference is made to the page of the
Chboxicle where a full account of the sale is given.
SEPTEMiitiR Bond Sales.
Name,

Bate.

6
787.. Ada, Oblo
6
724.. Akron, Ohio
724. .Albaoy Co., N. "Y
31a
5
787...Atbion. Mlcl)
787.. Amerioau School Diet.,
8
Cal
4
787...Ann Atb r. Mloh
I'.wa
5
861...Antbon,
787...Appaooose Co., Iowa..
5
787. Atht^nf), Oiilo
4
Sf-l...Attleboiough, M,te8
4
851...Baylor Co., Texas
989...Beaumont, Tex. (.i le.). 4
5
861...Bedford Twp.Ohlo
4
787...Bee Co., Texas
787...BlnKham Co. (laalio)
8ch. DlBt. No. 5
5
787...Blooml'g Prairle.Minu.
724...Bremen. Ohio
8.S1...Brono Twp., Mlon
6
6
851...Bruno Twp.. Minn
5
659...Brvan. Ohio
851...Bnff*lo. K Y
3^
5
787. .Bntlf-r Co.. Ala
9-9...Canal Dover. Ohio
5
4^2
N.
Y
659...Canandalgua,

Maturity.
1904-1913
1904-1909
1904-1922
1904-1908

AmoMtit,
Priee
$53,000 104 359
60,000 100145
41,000 100
22,000 10005

787.
787.
787.
787.
627.

699
852.
797.
esg.
802.
788.
659.
889.
724.

.Canfleld,

1904-1913
11913 1923
tl908-1913
1905-1915
1933
11905-1933
11922 1942
1905-1909
tl908-1943

tl9131923
isbs-igis
1910-1919

19041909
1923
*iP09"

1908

|4
•4I2

Y

Ohio

4I2
.Canton, Oblo
.Canton, Oblo
.C*nton, Ohio
4
.Canton (O ) Soh. Dlat.
(2 lge>uea)
S
.Cedar R^ptds, Iowa.... «
.Cellna. Onlo
5
.ChurchiU Co Nev
5
.s
.Clark Co.. 111. .

1919

1906&1911
1915-1927

,

Clearwater Co., Mien..
.Cleveland, Ohio

.CllEton Co.. N. Y
.ColDuibns, Oblo
.Coimnbla Co. (Wash
Sch. Dlst No. 8
659. .Concord, N.
989. .Continental, Ohio

5

4

Sh
4

1913
1924
""'1913'"

2.000 113-556
31,000 100
4,500 100
27,000 100
10.0(0 103-30
30.000 10527
7,000 100
195,000 100
5,000 100-30
6,500 100

10,000
8,000
5,000
4,500
1.500
90,100
38,373
36,000
10,000
100,000
1,000
21,000
2,000
23,000
5,000
7,000

100

100125
105-20

100555
100-666
102 108
100

100
100-55
100-556

100
100-375
103-.'i9

100-435
100 10

100

20,000 100385
13,000 100
12,000 104
8,000 100
SO.OOO
98
5,000 100
50,000 100
30.000 100
50,00011100

)

6I9

H

852. .Cook Co., Ill
852. Corning (N. Y.) School
Dlat. No. 13
788. .Coulee (N. Dak ) Sch.

5

Pal
788. .Coster Co. (Okla )'sch"
Diet. No. 73

.Cuyahoga Co., Ohio
Darke Co.. Ohio
724. .Dayton, Oblo
788.. Delaware Co Ohio

1251.
6.=- 2.

,

788.. Delhi Sob. Dlat.. Cal...
852...East Syracuse, N. Y...

1913
1912-1923
1913 19.^6

Sifl

1909-1923

Dlst
659. CorvalllB (Ore.) Behool
DlBt
989. .CuL>amonKa Boh. Dlat.,

1913

6
6
5
5

4
5
5

1923
1904-1908
1908-1914
1904-1913
1905-1915

41s

788..Ephrata, Pa
4
786. .Exira. Iowa
5
788. .FlBhhlU Landing, N. Y. 4
852. .Fort Dodge, Iowa
^^
852.. Franklin Co., Oblo
6
1251. .Franklin Co .Ohio
6
7*'8..Freeport, Minn
6
852 .Galveaton Co., Texas.. 4
660.. Geneva, Ohio
5
788.. Glrard. Ohio
5
788..Glrard,Oh'o
5
852. .Glenvllle. Ohio
5
788.. Green Bay, Wis
4
788. Greenville, Ohio
5
788. Greenville. Ohio
5
724. -Greenville (8. C.J Soh.
Diet
5
784..Grlnnell (Iow») School
Dlst

No.

41a

1

J
78ar. Hyde Park. Ohio
789..Indlanapoll8, ltd
1262. .Inyo Co., Cal
724.. Jackson Center (Ohio)
Co., N.

Sch. Dlst
789..Janieati>wn, N D. (218.)
853. .Jefferson Co ,Ga
660..J.raey City, N. J
6eO..Kennedy Heights, Ohio
724.. King Co. (Wash.) Soh.
Dlst. No. 71
724..Kln(c Co. (Wash.) Soh.
Dlst.

No. 121

789.. Kingston (Mich.) Soh
Dlst
528.. La Grange (Ohio) Soh.
Dist
789.. Lancaster, Ohio

789

. .

Landls Soh. Dlst. N. J.
,

789..Latonla. Ky
863. .Lima, Ohio
991. Lima (O.) Sch. Dlst....
991. .Lock Haven, Pa
660. .Luzerne Co., Pa
853..Mary8vllle, Ohio
526..Meadvllle, Pa
661 ..Medina Co.. Texas
66 L.. Mem phis (Tenn.) Soh.
Dlst
7P9.. Merced Co., Cal
661.. Mercer Co., Ohio
.

991..Mlddletown

1933
1922
1932
1923
1913
1904 1913
1905 1908
11922 1942
1904 -1913
1904 -1913
1905 1909
1905 1914

tl908
1913
>903
11913
1904

3,000 100
75.000 100
7,000 100-571
191,000 ICO

16,000

100-062

2,000

100

8,000

100

2,5C0

100-20

9,790
41,192
40,000
36,000
66,000
6,C00

102
101-35
101-077
100-05
102-286

100
55,0ur> 102-173
101
500
5
1,000
I
2,500
45,000
27.000
9,600
3,000
4,000
22,600
35,400
6.000

102-76
101-60

100
100
103-333
102-533
100
100

100086
100-58

2 500

IfOlO
100-28

1904-1907
1904-1908

55,000
42,000
4.800
5,000

1923

20,000

102-625

1908

27,000

100
100-72

10085

100

(O.)

529. .Minnesota
789. .Minnesota (school fund
loans)

991 ..Mission Soh. Dlst., Cal.
853. .Monroe, Mich

Ala
Ind

725..M<irgan Co,,
85i. .Morton (111,) Sch. Dlst.
5 2 9.. Mt. Vernon, Ohio
Muscogee, Ind. Ter
fc'6 1
853. . Nashua. N. H
66 1.. Nashville, Tenn
7 i5.. New Bedford, Mass
. .

725..Newburgh,N. Y
991..New York City (13

4
8
4
4
5

18.).

853. .Niagara Falls, N. Y....
853..Nor'W'alg.Oonn
661. .Omaha, Neb
991. .Omaha, Neb

1933
1923
1901-1913
1924

3>«

4

19041919

6
..

6

1933

A

1923

4

tlOOS-1923

4ifl

1918

5

1913

5

1904-4919
1906
ie09-1910
1904-1913
1906 190S
19U4-1919
1908 1923

5

i^
5

6
5
flki

4
6
4
4
412

4
5

1904-1907
1918-1933

t

U908-1943
1928
1804-1916

4

19131930

3

1918 1980

4
6

4
4
4^2

5
6
5
3

4
4
4
3
4

3^
4^,
4>fl

790. .Orange (Cal,) Sch. Dist.

4ifl

853..0regon City, Ore

6
6

7y0.. Otero Co., N. Mex
66l..Ottovllle, Ohio
8=-3..ParkKldge, N. J
790..Penn Yan, N. Y

V26..Peru (Ul.) School Dlst.
No. 124
:.

r>

Ark
661 .Sandnsky Co., Ohio
.

529. .Sandy Hill. N. Y
529..8chuylerviUe, N. Y....
79l..Soranton, Pa
791..8oranion, Pa
726..8cranton (Pa.) School
Dlst
720.. Belittle (Wash ) School
Dlst. No. 1
791..Sbelby, Obio (SlSBues).
991. .Sidney, Ohio
629. .South Bend (Ind.) Sch.
Dlst
854. .South Bethlehem. Pa..

727..9outh River, N.J
993. .Sterling. Ill
662..Stoke8Co.. N.
79l..8troud8burg, Pa
727..ThermopoilB, Wyo
662..Tiffio, Ohio.....
993. Tipton Co,. Ina
791..Toledo, Ohio (i issues).

•>*>

19041913
tl913-1923
1904-1913

1905-1922

412
5v»
41^
4.^

661. .Ripley Co., Ind. (2 is.).
9y.i.. Ripley Soh. Dlst ,N.Y.
529.. River Rouge, Mich
661..Ro8e Hill Twp., Minn..
790. .Saginaw, Mich
796. .Saginaw, Mich
726. .St Bernard Parish, La.
726.. 8t. Francis Levee Die.,

•

1928
11923 1928
U913-1923
1933j
1906-1923

41a

1263.. Putnam

,

-••

1913
1908 1921

6
5
6
4
4

Co Ind
9»a.. Red Lake Co., Minn
790..BtnggoldCo.. Iowa

1943
1904-1923
1905-1916
1904 1909
1923
1923
1928
1913
1904-1913

4.^

5

991. .Pioneer Irrl. Dlst., Ida.
.•i29.. Ply mouth, Ohio
726. .Portland. Ore
853..Portof Portland, Ore..
790..Port of Portland. Ore..
790.. Prat tsburg iN. Y.) Soh.
Dial. No. 6

4

6

1930 1933
1933
1804-1913
1908-1917
1904-1923
11908-1913

1907

4^2

5

1909-1923
1904-1913
1923
1943

6

1933-1943

6

4
4

Priee.

104 054
101-006

$16,000
15.000
30,000
6,000
5,000
5,000

100176
102
100
100-52

16,000 100
6,000 102-77
95
30,000 [100
26,000 101-38
3,964 100
25.000 100012
60,000 100
4,000 103126
40.000 101
60,000 103
85,000 TlOO
11,000 100-591

100

12,000

790 100
100

5,000

8,000 103-672
1,500 101-407
ito
4.000 5 102-50
I
101-266
6,000
4,000 100
75,000 101-35
10,C00 100
200.000 100-515
3,000 101-70
35,000 103-725
10,000 100

76,000 100-936
129,000 10001
91,500 100-66

103-833

18,000
300,000

100

66,100 100
12,500 102-208
30,000 100
50,000 100
16,800 100005
24.000 102-266
6,000 105
80.000 100
60,000 100
181,000 100
30,000 102-495
5,000 100-20
1,710,00011100
14,fi00 101-25
46,000 100
484,000 101-25
45,000 102129
100
35,000 102
7,685 105-10
2,500 101-50
5,000 100-20
15,000 100-287
49.616 101-373

35.000 100
195,000 100
4,OU0 100-637
100.000 100218
175,000
85
93-465
275,000
2,500
18,600
78,000
10,000
45.000
2,800
28,850
2.000
20,000
60,000
10.000

100
100
101
100-25

100 166
103-439

10069
100-50
~

101-65
i

100

4

1904-1923

250,000 100
14.920 100
55,000 100-136
55,000 101-10
100,000 100
41,000 101-15

4

1915-1933

250,000

100-73

1923

100,000
4,374
100,000

100875
10025

6
414

4^
3^

413

1808 1932
190S-19a2

19071932

6
5
41a

1904-1913

19041913

4

tX923-1933

4

1923
1911 1918
1906
11908-1923

*!«

6
4
6
4

U913-1933
1904-1910

5

4
727..Troy,N. Y
4
993. .Two Harbors. Minn
5
854..Valatie (N. Y.) School
DUt
4
79 3.. Van Wert Co., Ohio
6
993.. Vermilion Co Ind
5
79 2.. Vernon. Mich
5
727.. Versailles, O, (3 is.).... 5
4
663..VlgoCo.,Ind
792. .Wakefield. Mass
4
792.. Wapakoneta, Ohio
5
4
854..Wairen,Pa
993. .Warren, Pa
4
i^
792.. Warren Iwp,, Ohio
,

19051909

Amount.

Soh.

Dlst

7t<9.. Montgomery,

.

724. .Candor, N.

Dial.

789.. HlokavUle, Ohio
660..BlllBborough Co.,Fla..

528..nad8on

MUNICIPAL BOND SALES IN SEPTEMBER.

gate of sales

1918
1904-1911
19U4-1919
1923
1914-1918
1909

528 Harmony Grove, Ga.
5
4
724.. Hertford. Wis
•724. Hart (MIoh.) Soh. Dlat.
6
853. .Herkimer (N. Y.) Sch.
. .

Index.

Maturity.

1923
1917-1934
1918
1913
1904-1906
1918
1904-1907

1912-1923
1904 1933
1904-1913

119131933
tl913 1933
1905-1922

102-10

102-321
100-685
102
7.20.'»
100-722
6,000 100 004
24.000 100-16
30.000 100
5.500 100
15.000 100007
320,000 100
104-58
355,000 106-20
\
15,000 UOO
100,000
100.000
6,500

5,000 100
7,500 100-306
20,000 104
2.000 100-25
4,000 101-987
271,200 101-262
235,000 103-089
16,800 100
20,000 100-025
20.000 100 025
15,000 101

:

THE CHRONICLE.

1250
Name.

Pagt.

Rate.

Amount-

Maturity.

Price

79!*.. Washington Twp. (Ind.)

8oh. Diet

6

1908

4

tl908-1923
1908-1913

9.000
5,000

100*50
100

1913

2.fi00

104
100

$12,000

lOi-541

854..'WenavUle (Mo.) Sohool
Dl9t

854.. Wood Lake, Minn
1254..Wood8Soh. Dint., Oal..
7a7..Wylie (Tex.).Soh. Dl8t.
792..Y4nkton Co., 8. Dak...
787..!' 'kone Soh. Dl9t., Cal.
792..Young9town, O. (6 1b.).
993..Yonng8town, O. (SlB.).

5
6
3>«
5
8
5
6

tl913 1943
11908-1913
1905

8,200
30,000
1,600

1905-1909

10103
110-066

9,7'20

1C061

1,485

100-202

Total
(177 manlolpalltiea, covering 218
separat* issnes)
910,022,359
Aggregate of sales for whloh no price has
been reported (10 mimlclpftlltleB, covering 12 separate Issnea)
839,720

Total bond aaleB for September 1903

. . .

.f $10,352,079

* Average of dat«8 of maturity,
t Subject to call in and after tbe
earlier year and luatare In tbe later year. (Not Inclndlng $12,589,564
of temporary loans reported and wblcb do not belong In the list;

H Taken by Binklng fund as an Investment.
donB.

1

And

otber oonsldera-

la addition to the above bonds of mnnloipal coi^poratlons, we have recorded during the month of September ;the following sales by municipalities outside
the United States.
BoKDS Sold bt Canadian Mcnicifai.ities.
Name.
Maturity.
A.mount.
Rate.

P<Hf*.

»91..Lethbrlige 8cb.

Price,

Diet.

N0.51.N. W. T
854..81nlooe Co.. Ont
7»l..TlllgoDbarg, Ont
804 .Winnipeg, Man. (2

6

1904-1923

$8,000
100,000
10,000
120,000

4
4
Is.).

4

1904-1923
1928

Total

102-40
100-25
97-265

100

I

Vol. lxxvii.

vening of the State Legislature in extra session to rectify the
error.

Texas.— Condih'on of Permanent School Fund.—The State
Permanent School Fund again has some money to its credit,
the amount October 3 being reported $63,175 35. Bonds
have already been offered sufficient to consume this sum, In
order that tde reader may understand the condition of this
fund it is proper to say that it (the fund) owns over two
million acres of sohool land, which is being rapidly sold; it
also holds over fifteen million dollars worth of land notes.
As this land is sold and the notes collected, the proceeds are
placed to the credit of the fund, and they can only be vL^ed.
in the purchase of United States bonds and of Texas State,
county, municipal and school district bonds. The interest
that accrues on bonds, land notes and leases held by the
fund is placed to the credit of the available school fund and
is used in support of the free schools of the State.
Talare Irrigation District, Cal.— De6f Lfguidaied.— This
district on Oct. 1, by a payment of $373,000, liquidated its
entire outstanding debt. The above payment was made in
accordance with a compromise agreement entered into with
the bondholders some months ago. See V. 77, p. 158.
Union Count/, Ore.— Suit to Preven^Bond Election.— Aecording to the Portland "Oregocian," a petition was filed in
the Circuit Court on August 6 by a number of the larger taxpayers asking for an order restraining the Clerk ot Union
County from issuing notices of election for the special election authorized by the last session of the Legislature to enable the people to vote on the location of the county seat.
The grounds for the injunction are that the law calling the
election is unconstitutional for the reason that it authorizes
$45,000 additional bonds, whereas the constitutional limit of
indebtedness, it is alleged, has already been exceeded.

...$238,000

REVISED TOTALS FOB PREVIOUS MONTHS.
following Items included in our total for
previous months should be eliminated from the same,
as the sales have not been carried to completion. We
give the page number of the issue of our paper in
which the reason for the failure to consummate the
sale may be found.
Page.
Nam^ of Municipality.
Amount.

The

787.. Butler County, Ala. (Jane list)
850.. Oornlng, N. Y. (July list)
659.. Dallas County, Texas (May list)
724.. Delaware County, Ohio (July list)
852.. East SyraoQse. S. Y. (August list)
788 Eilra, Iowa (July llsl)
789.. Hudson County, N. J. (July list)
661.. Memphis (Fenn.) Sohool District (July list)
791.. Soranton. Pa. (February list)
529.. South Bend (Ind.) Sohool District (Jane list)
662.. Vallsbnrg (N. J,) Sohool District (May list)
663.. WlntonPlaoe, Ohio (July list)

$36,000
16,000

600,000
66.000
55,000
2,500
87,000
75,000
100,000
100.000
30,000
48,000

Bond Calls and Redemptions.
Mo.— Bond Call, — Interest ceased August

Bloomfleld,

on $5,000 6| boads dated Aug.

1,

1898,

and numbered from

8
1

to 10 inclusive.

Carthsga,

Mo.— Bond CaW.— This

city called for

payment

August 1 bonds Nos. 1 to 6, inclusive, each for $500, dated
Aug. 1, 1898. Interest 4%.
Delaware County (P. 0. Media), Pa.— Bond Redemption.
—The County Commissioners on September 3 jVOted to redeem $10,000 of the 8)^* war-debt bonds due Oct. 6, 1908, but

now

subject to call.

—

Denver, Colo.— Bond Call. D. A. Barton, Auditor, and
C. S. Elder, Treasurer of the City and County of Denver,
called the following bonds for payment Oot. 1, 1908

8EWEK BONDS.
Broadway Storm Sewer Dist. No. 1— Bond No. 51.
Capitol Hill Storm Sewer Dist. No. 1— Bonds Nos. 147 to 151, Inclusive.
Sub Dist. No. 5 of the Capitol Hill Storm Sewer Dist. No. 1— Bond No. 4.
Sub Dist. No. 18 of the Capitol Hill Storm Sewer Dist. No. 1-Bond No.4.
Sub Dist. No. 19 of the Capitol Hill Storm Sewer Dist. No. 1— Bond No. 8.
South Side Sanitary Sewer Dist. No. 3— Bonds Nos. I to 6, Inclusiye-

PAVING BONDS.

News

Broadway ParinR Dist. No. 2— Bonds No. 66.
Broadway PavlnR Dist. No. 1— Bonds Nos. 12 to
Cbampa St. Paving Dist. No. 1-Bond No. iS.

Items.

28, Inclusive.

SIDEWALKS.

—

Alaswortb, Neb.— Bond* Cannot he iMued. This place
Sidewalk Dist. No. 6— Bonds Nos. 1 and e.
recently votel to issue $10,000 bondi " as a doQatioa for the
Also the following bonds, payment to be made Nov. 1, 1908:
n^e ana benefit of a State normal sahool to be located in
Bonds Nos. 881 to 345, Inclusive, of public improvement bonds, Series "A,''
Ainsworth Township." It aeeme, however, that the bonds of the city of Denver, Arapahoe County, Colo., dated Sept. 1, 1889.
Bonds Nos. 470 to 4-1, inclusive, of public improvement bonds. Series "A,"of
cannot be isaned, as the Attorney-General has raled that
the city ot Denver, Arapahoe County, Colo., dated Jan. 1. 1892.
they are not legal and tha Supreme Court has snatained this
Bonds Nos. 191 to tOb, Inclusive, of publicimprovement bonds. Series "B," of
ruling. The statute under which it was proposed to iesae the city of Denver, Arapahoe County. Colo dated July 1. Ib91.
Bonds No8. 1 to 40, inclusive, of public improvement bonds. Series "C," of
these securities provides for bonds "in aid of internal im- the city of Denver, Arapahoe County, Colo., dated Nov. 1, 18i»8.
provements, hignways, bridges, railroads, court house, jails
Upon request from the holders of any of the above bonds
and the drainage of swamp and wet lands." The bonus ten days before the expiration of this call, the City Treasbonds were to be issued under the head of " internal im- urer will arrange for their payment at the Mercantile Trust
,

provements," but the Attorney-General holds that they can- Co.. New York City; but not otherwise.
not come under this head.
Hannibal, Mo.— Bond Call.— Ttiis city called for payment
Cbe8wlck(Pa.)8ct]0>l District.— Bond Litigation,— ^xxM September 1 the following bonds
was filed in Common Pleas Court No. 8 on August 9 to reNob. 16 to 25 Inclusive, dated March 7. 1890.
strain the Board of Education from issuing $14,680 bonds
Nos. 8 to 20, Inclusive, dated July 30, 1892.
voted June 26, 1903. The plaintiffs claim, it is stated, tbat
Lawrence County, Mo.— Band CaH.— Call was made for
the election is invalid because the notices were false and payment August 1 of bonds Nos, 41 to 51, inclusive, dated
misleading, Inasmuch as they represented the indebtedneFs Ojt 3, 1893, iQterest, 5% D 'nomination, $500.
of the school district to be nothing, whereas, the plaintiff-t
Morgan County, Hlo.—Bond Call—This coun'y calls for
aver, |364 of current expenses was still owing and the dis
payment November 2 5% bonds Nos, 188 to 153, inclusive, each
trlot was still liable for a portion of a $15,000 bond issue by for 1100, dated May 1, 1894.
the Springdale Township District, of which the Cheswick
Maltnomah County, Ore,— Warrant Call.— John M. Lewis,
District was formerly a part. The Cheswick District's pro- County Treasurer, calls for payment county warrants Class
portion, the plaintiff ^ say, is |3,200, and they were informed "36," drawn upon the general fund and presented and inthat the defendants were notified to that effect by the Spring- dorsed "Not paid for want of funds," up to and including
:

dale District.
])i' c kson, Tenn.— /n/uncf ion Cranked. — An
irjinotion has
been granted restraining the city officials from selling t.he
|30,OOO b% 80-year water and light bonds voted at the election
held June 30, 1903. It is claimed among other things that
the election waa Illegal and the charter defective.

Bashrllle (Ind ) School District,— Bonds /nva/id. —Jadge
Douglas, in tne Circuit Court at Rushville, recenrly banded
down a decision holding invalid the 135,010
bonds awarded
last May to W. J. Haves & Sons of Cleveland,
It seems that
the Act authorising the bonds provides for the issuance of
securities in cities of not less than 4,540 and not over 4,545
inhabitants. This, the Judge holds, is "special and local
legislation," and is therefore unconstitutional. It will be
remembered that similar legislation resulted in considerable
conf Qsion last year in the State of Ohio, and caused the con-

H

Oct, 31, 1902,

L<i,— Premium BonH Drawn.— The followpremium bonds of the city of New O.-leans were drawn by
on July 31, 1908 (for pavment Jan. 15, 1904), this being the

New Orleans,
ing
lot

111th allotment

Series 193, 272, 417, 496, 605, 710, 718, 879,
:
16)2, 1878, 1961, 2152, 2300, 2420, 2477, 2593, 2659, 2840,
3541, 3590, 3641, 3697, 4174, 4209, 4346, 4363, 4696, 5063,
5260, 5429, 5462, 5496, 5737. 5759, 5S(i9, 6937, 6306, 6791,
7075, 7380, 7708, 8485, 8991, 9330, 9349, 9803, Series Nos.
6734 10 10,000 were never isened,
1183,
2890,
5190,
6964,

Phelps County, Neb.— Bo/i <« iJedeemed. — This county has
redeemed .$10,(00 1% bonds, i^sue of 1883. Securities were
held in the State Permanent School Fund.
Pierce County ( P. 0, Tac iraa), Wash —Bonds Redeemed.—
A correspondent fiom Tacoma writes us that this county

recently remitted to the

New York L-fe

Insurance Co. $20,000

—
Oct.

THE CHRONICLE.

17, 1903.J

redeem bonds now subject to call, but which do not
matare for some years to come. This makes $108,000 bonds
redeemed by the connty in the past two years. The city of
Tacoma— the connty seat of Pierce County also recently
purchased $17,000 of its bonds and the Council has decided to

to

—

purchase an additional $17,000 bonds in the open market.
Ralls Coantf, Mo.— Bond CaW. - lotereat ceased August 1
on 4^ bonds Nos. 1 to 13, icclnaive, each for $1,000, dated
Feb. 1, 1888,

Bond Proposals and Negotiations this
week have been as follows

:

Bonds Not Sold.— Oa Oct.

12 no b ds were
Anscnla, Conn.
received for the $75,000 3>^« gold building bonds described

in V. 77. p. 787

Ballard, Wash.— Bonda Authorized.— The City Council
has authorized the issuance of $3,723 20 Day Street improvement bonds.
Ballingrer, Tex.— Bond* Not Yet So/d
We are advised
by John Hcfifer, Mayor, that the $16,500 i% 5 30year (optional)
refunding water bonds mentioned in the Chronicle August
15 have not yet been sold. These bonds are in the hands of
the Mayor for private disposal. Denomination, $500. Date,
July 1, 1903. Interest, semi annual.
Benson, Swift Coaoty, MIna.— Bond OjTerinflf.— Proposals
will be received until 7:30 p. M., November 9, by Anthon Arnesen. Village Recorder, for the following bonds

—

:

IIS.OOO 6« bondsi, raatnrlug two bonJs for 11.000 each (12,000) yoarlj on July 1
from l(K)9to 1910, iaolasWe. Interest seml-anDuallr•,500 5» bonds, msturiae tvro bonds for $1,000 each (»2,oOO) on July 1. 1917,
and also on July 1, 1918; one bond for |l,00i>and one bond for $1,500
on July 1. 1W19. Interest, annual.

1251

1905 to 19G9, inclnaive, and ?50 yearly on September 1 from
1910 to 1919, inclusive. Accrued interest to be paid by purchaser. Certified check for 10^ of bonds bid for required.

Cottonwood County, Minn.— Bonds Voted.—Th\a oounty
on September 23 voted to issue $50,000 court house bonds.
Details of issue have not yet been determined upon.
CoTington, Ohio.— Bond O/Teringr.— Proposals will be received until 12 M,, November 3, by C. R. Carlton, Village
Clerk, for $8,000 5^ water works bonds.
Danomination,
Date, Sept. 1, 1903. Intt rest semi-annually at the
$1,000.
office of the Corporation Treasurer.
Maturity, $1,000 yearly
cm Sept. 1 from 1910 to 1912, iaclnsive. Accrued interest to
be paid by purchaser. Certified check for $50, payable to the
Village Treasurer, required. Present debt, |1,(/00.
CrefcentTllle (Ohio) School District. -Bonds Not Sold.—
No bids were received September 30 for the $5,000 6% bonds
described in V. 77, p. 788.
Cajahoga Connty (P. 0. Cleveland), 0.— Bids RejectedNotes Awarded. The County Commissioners on October 3
rejected all bids received for $76,570 5% road notes. The
highest bid received was a premium of $127 offered by Denison, Prior
Co. of Cleveland and Boston. At a meeting of
the Commissioners held October 10 a bid was received over
the telephone from Rodgers
Sons of Chagrin Falls. This
firm offered a premium of $1,375 60 for the notes and the bid
was at once accepted.
Not-i Saie.— Local papers report the sale of $41,192 Hi road
notes to F. L. Faller
Co., Cleveland, for $568 premium.
Bond Election. An election will be held November 8 to
vote on the question of issuing $250,000 memorial-building
bonds.
Denton Coantj, Texas.— Bonds Not to be Issued.
are
advised by the Clerk of the County Court that the report
that this county would Issue $10,000 jail bonds is incorrect.
Detroit, Mich.— Bond IsDue Recommended.— The Detroit
Municipal Leaf;ue, at a meeting held October 6, recommended the issuance of $500,000 bonds to repair and renovate
the city hall.
Bonds Not Yet Sold— Negotiations Pending.— The $150,000
9)4* 3C-year water bonds offered but not sold on August 25
Private negotiations for the purhave not yet been placed
chase of these bonds, we are advised, are in progress, and a
sale may be effected within a few days.
Eastbampton, M.Mf,— Notes Authorized. The issuance of
$30,000 Trunk Line sewer notes has been authorized. No
date has yet been set for the sale of these notes.
East Liverpool, Ohio.— Bonds Re- awarded.—The sale of
the $93,920 4i>^< 10 SOyear (optional) bonds awarded last
August to C. R. Williams
Co. of Pittsburgh was never
consummated, and the City Council has re-awarded the

—

&

&

—

&

— We

Date of bonds, July 1, lyuS. Certified check for $100, payable to the Village Rtcorder, required. These bonds were
offered as 48 on May 25.
Blackdack Independent School District No. 60, Beltrami
County, Ml no.— Bond O^erinp. — Proposals will be received
until 13 M., October 21, by D. H. Congdan, Secretary Board
of Education, for $5,000 5% bonds. Denomination, $1,000.
Interest, annual.
Maturity, ten years. Certified check for
$850, payable to Henry Dalstul, Treasurer Board of Education, required.
Bids will be opened at 7:30 p. m, on Oat. 21.
Bloomington (III.) School District.— Bonda to be Issued.
—This district will shortly advertise for sale $30,000 i%
bonds.
Canlsteo, N. Y.— Bonda Fo^ed. -This village on October 1,
by a vot« of 113 to 37, authorized the issuance of $8,500 dyke
bonds.
Carroll Connty (P. 0. Delhi), Ind.— Bonds Not Sold.—
are advised that the $70 00 J 4V^< Deer Creek Township
gravel-road and the $39,5i>0 43^* MonroeJ Township gravel road
bonds offered on September 8 hive not as yet been sold. bonds to a Pittsburgh firm, through W. Q. McCuUough,
agent, for par and interest less $150 as commission. DenomThese bond% were described in V. 77, p. 412.
ination of bonds, |l,O0O, except one bond for $935. Date.
Chester, Pa —Bonds Proposid.'—A.n ordinanoe was introdnoed in the City Council proposing a snbmissioa to a vote Aug. 17, 1903. Interest semi-annually at the office of the
City Treasurer.
of the people at the Februaiy election of the proposition to
East Waynesbarg, Pa.— Bonds Not Yet Sold.—
are adissue $310,000 paving, |45 000 intersection, $30,000 sewer and
vised
the
that
sewer
bonds
offered
but
not
sold
on
|8,000
5f
$36,000 bridge-approach bonda.
September 7 have not yet been placed. It is possible that
Cherlot, Ohio.— Bond OJfeTnng.- Proposalswill be received
the bonds will be sold at private sale to local bankers.
until 13 M,, November 15, by Charles Craig, Village Clerk,
Enterprise (P. 0. Jackson), MIna.— Bond G(^ertngf.— Proat the cflfice of Louis Reemelin, Room 808, Ball Block, Cinposals
will be received until October 19 by Thomas Clipperoinnati. for $7,500 5% turnpike bonds. Authority, Sections
ton, Town Clerk, for $3,000
bridge bonds. Authority,
2635, 2838 and 2837, Revised Statutes of Ohio.
DanominaChapter
of
1903.
Denomination,
Laws
36,
$500. Date, Nov. 1,
tion, $500.
Date, Oct. 15, 1903. Interest, annual. Maturity,
1903.
Interest payable at the First National Bank of JackOct. 15, 1928. Accrued interest to be paid by purchaser.
Chicago (111.), South Patk.— Bond Sa/e.— The South Park son. Maturity, $500 yearly from 1908 to 1913, inclusive. The
Board on Oct. 13 awarded $i.OOO,000 i% 20 year park bonds to assessed valuation of the town in 1903 was $337,533.
Fall Blver, Mass.— Bond Sale.— Oa October 15 $30,000 ii
the First National Bank, the Merchants' Loan <fe Trust Co.,
and N. W. Harris & Co., Chicago, at their joint bid of 100-25. highway-improvement bonds were awarded to R. L. Day
Under the agreement $1,000,000 will be paid over to the Co. of Boston at 103-789. Following are the bids
102*789 Merrill. Oldham & Co., Boston. 102-489
L. Day & Co.. Boston
board in ten days and the remaining $1,000,000 will be left R.
Karson .Loach i Co.. Now Vork.102'766 Oeo. A. Fernald & Vo., Boston.. 108-388
102-20
102-69
Blake Bros.* Co.. Boston
in the hands of the purchasers (drawing 2% interest) until Estabroot 4 Co., Boston
N. W. Harris & Co.. N. T
10»-6a7 Dominlck & Domlnick. N. Y... .101-27
such time as the money is needed,
portion of these bonds Fall River Savings Bank
102 606 W. J. Hayes & Sons, Boston.... lCO-75
Slodget, Merritt « Co., Boston. 102-617
was cffered for sale last July but without succesp.
Chlllleothe, Ohio.— Bond Sale. - On October 8 the $8,500
Date of bonds, Oct. 1, 1903. Interest, semi-annual. Ma5$ 10-year swrm-sewer bonis described in V. 77, p 787: were
turity, Ovit. 1, 1913.
awarded to Weil, Roth
Co., Cincinnati, at 105'741. The
Ford City, Pa.— Bond Election.— A.t the election Novem$11,000 5% sidewalk bonds offered on the same day were not ber 3 this borough will vote on the question of issuing |95,awarded, according to local papers.
000 water-works bonds.
Clerelaad, Ohio.— Bond Saie.— The city has sold at par
Franklin Connty (P. 0. Columbus), Ohlo.-Bond Sate.—
and interest $953,000 of the $1,013,000 i% bonds offered but This county sold last month to the First National Bank of
not sold last month. Of this amount, 1953,000 were disposed Barneeville at 103-533 an issue of $3,000 6% 1-iO-year (serial)
of to Denison, Prior
Co. of Cleveland and Boston and Washington turnpike bonds.
$10,000 to the Prudential Trust Co. of Cleveland.
Bond O/ierinflf.— Proposals will be received until 13 M.,
echoes, N. Y.—Bond Offering.— miler Hay, City Chamber- November 4, by the County Auditor, for $3,000
Columbus
lain, will sell at public auction at 12 m., Oct. 31, $25,322 87 and Johnstown free turnpike bonds.
Date, Nov. 4, 1938.
8H< registered public improvement bonds. Date, Nov. 2, Interest semi-annually at the office of the County Treasurer.
1903.
Interest semi-annually on Jan. 1 and July 1 at the Maturity one bond of $500 yearly on March 1 from 1911 to
United States Mortgage
Trust Go. New York City. Prin- 1914, Inclusive, and one bo ad of $500 on September 1 of the
cipal will mature $1,403 87 Nov. 2, 1904, and 1.1,407 yearly on
years 1913 and 1914. Authority, Section 480 ^ Revised StatNov. 2 from 1905 to 1931, inclusive. Authority, Chapter 245, utes of Ohio.

—

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We

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,

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I

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Laws

of 1902.
Gallatin County (Moat) School District.— Bond afa/c—
Conshohooken, Pa.— Bend Election.— A.t the election to be On October 7 $l,C09 6% school bonds were awarded to the
held November 3 the question of issuing $100,000 permanent- Commercial National Bank of Bozemju at par. Denominaimprovement bonds will be submitted to the voters. No de- tion, $100. Date, Jan. 1, 1904. Interest, semi-annual. Matails of these bonds will be decided until after the election.
turity, Jan. 1, 1914, subject to call after one year.

Coshocton, Ohlr>.— Sold O/ering. — Proposals will be received until 13 M,, November 2, by Charles 0-. Soaith, City
Auditor, for $1,000 4i^« alley-improvement bonds. Dduotni'
nations, five for $100 and ten for |50 each. Dite, Nov. 1,
1903.
Interest, March 1 and September 1 at the office of the
City Treasurer. Maturity, $100 yearly on September 1 from

Galllpolis, Ohio.— Bond OJ'er tnflr.— Proposals will be received until November 2 by Harry Moddy, City Auditor, for
Djnomination, $500. Date,
$5,500 5% deficiency bonds.
Aug. 25, 1903. Interest semi-annually at office of City Treasurer.
Maturity, Aug, 35, 1933. Certified oheok for 5}g required.

:

(^rand Prairie Township, Marlon Countr, Ohio.— Bond*
yotSold—tiond Offering —ThQ |4,»00 6« pike bonds ofifered
on October 3 were tot 8old. Prcpoeals are again asked for
these bends, this time until 2 p. m. October 31, by the
"CommissioDers of Walters Pike," at the office of the Contity
Snrveyor in Marion. For details of Iwnds see V. 77, p. 788.
Grand Rapids, Ohio.— Sond Sale.—Oa October 12 the $16.COO bi street-improvtment bonds described in V. 77, p. 852,
were awarded to the State Savings Bank Co. of Toledo at
Securities are dated Octi 12, 1903. The following
bids were received :
state Sav. B'k Co.. Toledo. .$lfl.f26 00 W. J. Hares * Sons. Cleye... $16,000 00

100-156.

I

.

A. Ke»n. CUloajfo

le.OltS

00

I

flamilton, Ohio.— Certificate Sale.— On October 10 the
$50,000 6^ six-months' certificates described in V. 77, p. 788,
were awarded to the First and Second National banks of
Hamilton at par and interest.
Hampton, Va.— Bond Offering. Proyosals will be received
until 13m., November 1, by R. C. Lee, Chairman Finance
Committee, for 123,000 4*^* coupon bonds. Denomination,
Date, Dec. 1, 1908. Interest, semiannual. Matu11,000.

—

years. Certified check for 1% ot bid, payable to
AloDzo A. Patrick, Town Treasurer, required.
Hawaii Territory.- Bond OJ'eWng.— Proposals will be received until 2 p. M. Nov. 18 by A. N. Kepoikai, Treasurer of
Hawaii Territory, at the cffice of the United States Mortgage

rity, 40

& Trust Co., in New

York

City, or at his cffice in Honolulu,

for 11,000,000543^!? public-impiovement bonds. DenominaDate, Oct. 1, 1908. Interest, semiannually, at
tion, $1,000.

Treasurer or at the Wells, Fargo
& Company's Bank in New York City. Maturity, Oct. 1,
Bonds are exempt
1918, subject to call after Oct. 1, 1908.
from all taxes and are a direct charge on the consolidated
revenues of the Territory. As stated on page 990 of last
week's Chronicle, these bonds have been approved by the
President, as required by law. Securities will be certified to
as to genuineness by the United States Mortgage & Trust
Co. and their legality approved by Dillon & Hubbard of
New York City. See last week's Chronicle for facts relative to this issue as famished by Geo. R. Carter, Territorial
the

1

THE CHRONICLE.

i'25'2

9.

—— —— —

office of the Territorial

Secretary.

[Vol. lxxvii.

ing from 4 to 5 per cent interest. Denomination, $1,000.
Date, Jan. 1, 1904. Interest semi annually in New York
City. Securities are exempt from taxes.
£aafman, Texas. Bonds Registered and Sold.—The State
Comptroller on October 5 registered an issue of $8,000 i^i
15-40 year (optional) school house bonds, dated June 1, 1903,
and also on October 6 an issue of $5,000 ^^i 15-40 year (optional) water-works bonds, dated Jane l,19i3.
These bonds
have been purchased by the Austin Fire Insurance Co. of
Anetln, Texas.
KenlOB, Ohio.— Bond OJferingr.— Proposals will be received
until 12 M., November 10, by John V. Thompson, City Auditor, for $34,000 5;^ refunding bonds.
Authority. Section
2701, Revised Statutes of Ohio. Denomination, $1,000. Dite,
Nov. 3, 1903. Interest semi-annually at the offiiie of the City
Treasurer. Maturity, $4,000 on Oct. 1, 1908, and $5,000 yearly
on October 1 from 1910 to 1913, inclusive. Accrued interest
to be paid by purchaser. Certified check for $1,000 on some
bank in Kenton, payable to the City Auditor, required.
Lavaca Coanty, Texas.— Bond Saie.— The State Permanent School Fund has purchased at par $25,000 4^ 5-20-year
optional) bridge bonds, dated May 13. 1903.
Lawrence Connty (P. 0. Deadwood), S. Dak.— Bond Offering,
Proposals will be received until 12 M., October 31, by
E. H. Warren, County Auditor, for the following bonds

—

:

$30,000 b% in.80-year (optional) refundine bonds, dated Nov. 1, 1903. Denom
ination, »600. Interest semi annually in New Yotk City. (Cerlifled
check for 2* of bid, payable to the County Treasurer, required.
20,000 6% 10-20- year (optionan redemption bonds, dated Sept.. 1, 18US, beinK
the unsold portion of an Issue of flO.OOO bonds offered on Sept. 1.

Bond Sale,—Ot the $40,000 5% 10-20-year redemption bonds
offered but not sold on Sept. 1, $20,000 have been disposed of
at par to local investors. The remaining $20,000 are being
re- offered on Oct. 31, as stated above.
Lincoln, Neb. Bond Offering.— Propos&lB will be received
until 4 p. M., October 26, by Beman C. Fox, City Treasurer,
for the following 5% 1-10-year (serial) district paving and repaving bonds
$7,380 paviPK bonds. District No. 16.
2,370 paving bond». District No. ?3.
920 re-pavlnK bonds. District No. 17.
2.900 re-pavlng bonds. District No. 18.

1

$1,310 re-pavlDg
630 re paving
],S70 re-pavlng
1,890 re- paving

bonds. District No. 19.
bonds. District No. 20.
bonds. District No, 83.
bonds, District No. 24-

Denomintion to suit purchasers. D^te, Nov. 1, 1903. InYork City. Certified check on a Linterest annually in
coln bank for 5;^ of bonds bid for required.
Linden, Mich.— Bonds Defeated. This village, on October
6, voted against the issuance of bonds for a water system.
The proposition, we ate advised, will be again submitted to a
vote.

New

—

of thi» bond offering will be found among
the advertisements elsewhere in this Department,
Listowel, Ont. Debentures Not Yet Sold.— We are advised
Hays County, Texas.- Bond Sale.—This county has sold to that the $21,500 ii debentures, offered but not sold on Authe State Permanent School Fund at par an issue of $25,000
gust 25, have not yet been placed.
i% 10-40 year (optional) road and bridge bonds dated Sept.
Long Beach, Gal.— Bond Election Proposed. At a meet77ie offlcial notice

—

10. 1903.

6!t

Highland Coanty, Ohio.— Bond Sate.— On Oct. 12 $«,000
road improvement bonds were awarded to the Farmers'

& Tradf-rs' Bank

of Hillaboro at 102'523.
Denomination,
Date, Oct. 12, 1903. Interest, March 1 and Sept. 1 at
1600.
the office of the County Treasurer. Maturity, $600 each six
months from March 1, 1904, to Sept. 1, 1908, inclusive.

HillBborough Coanty (P. 0. Tampa), Fla— Bonds Not
Sold.— The $320,000 4% 30-year gold road bonds offered on
October 8 were not sold. For description of bonds see V.
77, p, 660 and 528.
Imperial School District, San Diego Coanty, Cal.— Bonds
Foted.— This district has voted to issue |6,o00 schoolbuilding bonds.
Indianapolis, Ind.— Bond O/Tcringf.- Proposals will be received until 12 M., October 31, by Geo. T. Breunlg, City
Comptroller, for $40,000 S%i bridge bonds— the unsold portion of an issue of $65,0u0 bonds. Denomination, $1 000.
Date. Oct. 1, 1903. Interest, January 1 and July 1 at Winslow, Lanier & Co., New York City. Maturity, Jan. 1, 1924.
Certified check on an Indianapolis bank for 2^i of par value
of bonds bid for, payable to Armin C. Koehne, City Treasurer, required.

Inyo County, Cal.— Bond Sale.—Oa September 15 $80,000
4J refunding bonds were sold at par. Denomination, $500.
Diite. Sept. 15, 1903.
Interest, semi-annual.
Maturity, Sept.
15, 1943, subject to call at pleasure of coanty.
Ironton, Ohio.— Bond Bids.— Following are the bids received October 6 for the $25, COO 5% JO-year street and the
$15,000 5<J 20-year smallpox-epidemic bonds described in V.
77, p. 789
:

$26,000 S<r«t
Bonita.

Denisor, Prior A Co., Cleveland and Boston
H. W. MoontMlu, iroatou.
Weil, Uoth 4Co. Cincinnati
Union Savine" & Trnst Co., Cincinnati
Spltzer* C<i .Toledo

tSO.'iesOO

115.000 Bpi-

demic Hds.
916,007 00

2«,'6a&0
2B,31:^00
26,260 00

16,700 00

28,2^000
«6,07fl UO
2.^,»50 ro

1B,688C0
••
16,57000

Cinmnnatl Trust

25,H«2 60
1!6,806 00
26,887 50
25,075 00

16,oH 50
16,045 00

J.

Hayes h

Ck)
Soni«,

Cleveland

P. 8. BriKi?s4«o.. CinclDnall
First National Bank, Ironton

As

stated last week, Denison, Prior
ceasful bidders.

«fe

1^^,636 60
16,5ii4 00
>

Co. were the suc-

—

—

—

January.

—

Lowndes Connty, Ga. Bonds Defeated, It is stated that
at the election held Sept. 23, the proposition to issue $60,000
court house bonds failed to carry, as the question did not receive the constitutional majority.
McGregor Township, Minn.- Bond peering.— Proposals
will be received until to-day (Oct. 17), by A. J. Vandewater,
Town Clerk, for $6,000 road and bridge bonds maturing in
Rate of interest to be named in bids.
12, 15 and 20 years.
Mansfield, Ohio.— Bond Offering.— Propos&is will be received until 12 M., October 31, by D. 8. Koontz, City Aud-

i}^% refunding bonds authorized by the
City Council on September 22. 1903, and referred to in V. 77,
Denomination, $1,000. Date, Nov. 1, 1903 Interest,
p. 853.
March 1 and September 1 at the office of the City Treasurer.
Maturity, $1,000 each six months from Marcb 1, 1904, to
itor, for the $60,000

Ferler. Molzman 4 Co., Cincinnati
Laajpr(;cl)f Br s. Co., CleyelaDd

W.

ing of citizens held recently resolutions were passed requesting the City Council to call an election to vote on the question of issuing $100,000 wharf bonds.
Los Angeles, Cal. Bond 8ale,—Wm, R. Staats Co. of
Pasadena on October 8 purchased at par and interest the
$200,000 ZUi Polytechnic High School bonds referred to in
the Chronicle Sept. 26, on page 789.
LonlsTille, Gia.— Bonds Not Yet SoJd.— No disposition has
yet beeen made of the $20 000 5% water and light bonds offered
but not sold last July. Any one (interested may address L.
R. Farmer. City Treasurer.
Louisville, Kj.— Negotiations Pending tor Sale of Bonds.
We are advised under date of October 9 that negotiationa
are pending with several parties looking to the sale of $600,000 9^i 40-year refunding bonds dated July 1, 1903. These
bonds are part of an issue of $800,000, of which $200,000 were
sold at par and interest on October 8, as was stated in last
week's Chronicle.
Loan Negotiated, The Board of Aldermen has authorized
the Mayor to borrow $300,000 to provide revenue for the city
government for the remainder of the year. Under this authorization the Mayor borrowed on October 18 $100,000 from
the German Bank of Louisville at 6^. Loan will mature in

Sept.

1,

and $2,000 March 1, 1928. Certified
of bonds bid for, payable to the City Treasurer,

1827, inclusive,

check for
required.

lOji

—

Temporary Loan. This city on October 3 negotiated a
temporary loan of $25,000 at 5^% interest with the Mansfield
on the question of issuing $70,000 school-building bonds.
Savings Bank.
K&naas City (£an.) School District.— Bonds Not Sold—
Marlon, Ohio.— Bond Election Not Held,—The election
—Bond Offering.— The $50,000 i.i school bonds offered on which was to have taken place on Oct. 5 to vote on the isOctot)er ^ were not sold. Proposals are again asked for these euance of $100,000 building and $40,000 sewerage disposal
bonds, this time until October 26, by M. G. Jones, Clerk bonds was not held, owing to the fact that the proper notice
Board of Education. Bids may be based upon bonds carry- of election had not been published.

Kalamazoo School District No.

—An

Mich. Bond Election,
election will be held in this district on Oct. 19 to vote
1,

— ——

——
Oct.

THE CHRONICLE

17, 1903. J

1253

BenfreTT, Out.— Debenture O^eritJgr.— Proposals will be reMarion, Claridon and BlchUnd ToirnshipEi, Marion
Conutj, Olilo. Bond Offering.— Piopoe&ls will be received ceived until 6 p. il., October 33, by J, K. Rochester, Municuntil 3 p. M October 81, by the Commissioners of SHlem ipal Clerk, for $19,000 4^ debentures, maturing part yearly
Pike, at tbe office of the County Surveyor la Mnrinn, for for twenty years.
RIciilaiid Center, Wis.— Bond* Voted.— This city on Octo117,316 6% coupon bonds. Date of bonds, Sept. 1, 19u3. InMaturity as follows
ber 6, it is stated, voted to issue $30,000 bonds for the purterest, semi-annua}.
»22S Sept. !, 1001).
pose of purchasing the electric-li^ht plant.
1200 Miirch 1, 1907.
llfO March 1. IPOJ.
2S0 Mnroh 1, U>10.
ai
Sept. 1, 1907.
176 Sept, 1. 11K)4.
Richmond. Ya.—No Further Bonds Sold.— We are advised
Iv-O:*.
250
Sept.
IWIO.
20O
March
1,
1,
21
March 1, UOJ.
2f0 March I. l«ll.
«60St'pt. 1. Il"f8
that of the $405,000 3^t water bond swhtch this city proposes
175 Sept. 1. U't«
14,111 Sept. 1, Hill.
2C0 March 1. H'08.
2o0 Miirch 1,1k 09.
to issue, no bonds have been sold other than the $t50,0i)0 sale
aCOSept. 1, 1906.
reported last April. There has been somH delay in starting
Cash or a certified check for $100 required. W. W. Beaver
the proposed improvement and no further funds are required
Is Secretary of the Commissioners. These bonds were origin*
at present.
ally advertised for sale on October 3.
Kosedulo, Bolivar County, Miss.— Bond Sale.— Oa OctoMarlon, Rrand Prairie and Salt Rock Townships, Mnrlou
ber 6 the $6,000 6i 10-30-year (optional) school bonds were
Comity, Ohio.— Bonds Not Sold— Bond Offering.— The $12.awarded to S A. Kean of Chicago at par and interest.
2G0 8« coupon bonds offered on October 3 were not sold.
RooHovelt, Okla.— Bond Election.— An election will be
Proposals are again asked for these bonds, this time until
held
Oct. 17 to vote on the question of issuing water bonds.
3 p. M.. October 31, by the "Commissioners of the Shoots
Bernard Parish, La.— Bonds Not to be Solt at Once,—
St.
Free Turnpike Road," at the office of the County Surveyor in
advised that the Police Jury has decided not to put
are
We
Marion. For details of bonds see V. 77, p. 789.
entire issue of $50,000 6% road and street bonds at
Xllton, Olifo.— Bids.— Following are the bids received out tbe
from time ro time in euch amounts as
October 7 for the ^6,000 5<i; water bonds awarded, as stated this time, but only
of the
needed. The jury, therefore, only awarded $10, Oi
last week, to Seasongood & Mayer, Cincinnati, at 103*05 and
September
7 (as stated in the Chronicle September
bonds
on
interest
19), and these bonds were taken one-half by Mrs. J. H.
SeHgonirood
Mayar,Clnoln..$6.1S.'?00 MansHeld Sayincg Tiank
ffl.Ol,^ 00
P H. Hrlk;K» A Co., Cluoin.».
tt.l:<6 00
Well. lU>th Jt Co.Clucin
0,011) DO
Brow and one-half by Jules Maumus. These parties are,
Keaer. Uoliman Jt Co.,Uln
O.OXO
fl,(H.O 00
S A. Kean.Chlcaao.
Informant adds, ready to take the remaining $40,000 at
our
Minster, Ohio. Bond OJTertn^.— Proposals will be received
time.
any
until 7:30 p. M,, November 3, by M. A. Anthony, Village
St. Clair Township, Colnmbiana County, Ohio.— Bonds
Clerk, for f2,400 6^ electriclight-plant improvement bonds.
Denominations, one for |i00 and four for |500 each. Date, Not Yet Sold.— The $20,000 4:%% road improvement bonds
Nov. 1, 1903. Interest, semi-annual. Maturity, $400 Nov. 1, ottered, but not sold, on Aug, 28, have not yet been placed.
bonds will be re advertised in
1908, and |500 yearly on November 1 from 1909 to 1912, in- We are advised that these
1904.
January,
oluslve.
Cash in the sum of |;100 required with bids. AcSt. P.«ul, Minn.— Bond Sale.— Oa October 15 the $200,000
crued interest is to be paid by purchaser.
30-year bonds (three issues) described in V. 77, p. 790,
4%
Nassua County, N. Y.—Loan Authorized.— The County
Treasurer has been authorized to negotiate a four-months' were awarded to N. W. Halsey & Co., New York City, at
loan of $50,000 as not exceeding i% interest, to meet payment 104-6625.
San Antonio (Texas) School District.— Bonds Voted.—
of principal and interest on bonds and salaries due in October.
Newport (Ky.) School District.— Bond Oifertng.— Propo- This district on September 13 voted to issue $50,000 bonds for
public-school purposes.
sals will be received until October 19 by John E. Waterhouse,
Sau Diego County, Cal. —Bond.? Propo-sed. The issuance
Secretary Board of Education, for |60,000 i% 20-year bonds.
Interest, semi-annual.
Successful bidder to furnish blank of $300,000 road-improvement bonds is beiog considered.
San Francisco, Cai.— Municipal Ownership ofOeary Street
bonds.
Norfolk County (P. O. Dedham), Mass.— Bond Offering.— Railroad Defeated. This city on October 8, by a vote of
Proposals will be received until lo a. m., October 20, by the 14,881 for to 10,755 against, defeated the proposition to issue
County Commissioners, for $100,000 building bonds. Securi- $710,000 bonds for the purpose of building and equipping a
Two-thirds of the total votes cast
ties are authorized under the authority of Chapter 284, Laws Q-aary Street railroad.
of 1901, for the purpose of erecting a building for the regis- was necessary to authorize. This is the second time the
tries of deeds and probate and for the Probate Court.
The proposition has failed.
San Rafael School District, Marin County, CaL— Bond
amount of bonds that can be issued under the Act is $300,000, and the amount issued to date, not including the $100,- Sale.— The Connty Treasurer on October 5 sold an issue of
OCO above referred to, is $20,000. Interest semi-annually. $7,000 Qi school bonds to William Carson at 108'157. DeMaturity of the $100,000 now offered, $20,000 yearly on July nomination, $500. Date, Sept. 15, 1903. Interest, annual.
,

:

Jj;

.

.

.

<

—

—

Maturity, $500 yearly from 1904 to 1917, inclusive.
from 1906 to 1910, Inclusive.
Seaford, Del. Bonds Not Yet Sold. No disposition has
Norwalk, Ohio.— Bid Refected.— The only bid received
October 10 for the $3,000 5% coupon sidewalk bonds described yet been made of the $10,000 4% 10-30-year (optional) electricBonds were dein V. 77, p. 789, was that of The Lamprecht Bros. Co. of light bonds offered but not sold on Aug. 20.
Cleveland, who offered $2 premium and accrued interest for scribed In V. 77, p. 265.
Selma, Ala.— Bond Sile.—Oa October 14 $25,000 i% citythe bonds. The bid was rejected.
Omen (Texas) Independent School District— Bond Sale, h&ll, market-house and fire-department bonds were awarded
—The $3,200 i% 5-20-year (optional) school-house bonds regis- to R. P. Manly, the contractor, at par and interest. Detered by the State Comptroller on September 15 have been nomination, $500. Interest, April 1 and October 1 at the
sold at par to the Smith County School Fund. Denomina- City National Bank of Selma. Maturity, $1,000 yearly from
1906 to 1930, inclusive.
tion, $550.
Date, Aug. 15, 1903, Interest, annual.
Shippeusburg (Pa.) School District.— Bond Sale.— It is
Philadelphia, Pa.— Temporary Loan Authorized.— The
Select Council on October 15 passed the ordinance providing stated that on October 1 an issue of $13,500 4^ bonds was sold
for a temporary loan of §650,000. This ordinance passed the at an average price of 104.
SpringHeld, Ohio. Bonds Proposed. An ordinance is beCommon Council two weeks ago and is now, therefore, ready
1

—

—

for the Mayor's approval.

fore the City Council providing for the issuance of $60,000

Pleasant Kidge, Ohio.— Bond O^ertng.— Proposals will be
received until la m November 17, by J. B Hayden, Village
Clerk, for $14,500 5^ water-works-extension bonds. Date,
Oct. 1, 1903. Denomination, |500. Interest annually at the
First National Bank of Cincinnati. Maturity, Oct 1, 1923.
Authority, Sections 2S35, 2838 and 2837, Revised Statutes of
Ohio. Parchaser to pay accrued interest. A certified check
on a national bank for S250, payable to the order of the Village Clerk, required. These bonds were offered as 43 on
July 21, but not sold.
Fortsmonth, N. H.— Notes Authorized.— The issuance of
$30,000 5% street-improvement notes has been authorized;
also $58 000 renewal notes.
ProTideiiCe, R. I.—Bond SaZe.— The $500,000 d}4i sewer
bonds offered but not sold last March have been taken by
the Sinking Fund Commissioners at par. These bonds were
described in V. 76, p. 613.
Pntnam County, Ind.—Bond SaZe.— On September 29 $18,600 434$ gravcl-road bonds were awarded to the Central Na-

4J^^ water-works improvement bonds. Under the ordinance
securities are to mature $10,000 on March 1 and also on September 1 of the years 1933, 1924 and 1935.
are advised
Stoniogton, Conn Loan Negotiated.—
that the committee of the Ninth School District of the town
of Stonington has arranged for a loan of $34,000 at 4^4^ inInterest will be
terest with the Middletown Savings Bank.
payable semi-annually. The.loan is for the purpose of paying for the new addition to school house now in process of
construction,
are advised that
Superior, Wis.— Bowd Resolution,—
the Council has authorized the City Attorney to notify the
holders of outstanding general bonds that the city desires to
refund the general bonded debt under authority of Chapter
228, Liws of 1908.
It is proposed to issue i% 10, 15 and 30year bonds.
Trenton School District No. 1 (P. 0. Barneyeld), N. ¥.—
Bond O^ering.— Proposals will bs received uatil 7:30 P. M.,
October 20, by David T. Jones, Trustee, for $6,0U0 4% bonds.
Authority, district meeting held Sept. 7, 1903. Denomination, $800.
Date, Sept. 7, 19'j3, Maturity, §300 yearly on
Sept. 7 from 1904 to 1923, inclnsive.
Troy, W. Y.—Bond Offering.- Proposals will be received
until 12 M October 33, by LeRoy Rickersou, City Comptroller, for $54,400 i% registered public-improvement bonds.
Date, Sept. 1, 1903. laterest semi-annually at the office of
the City Treasurer. Maturity, $3,730 yearly on Sept. 1 from
1904 to 1923, inclnsive. Certified check for 1% ot the par
value of the bonds, payable to the City of Troy, required.
Dtica, N. Y.—Loan Authorized.— The Council has authorized a loan of $9,0u0 for the police and fire board and $30,000
for the school fund.

,

Bank of Q-reencaetle at par. DenomiDa^ion, $465.
Date, Sept. 15, 1903. Interest, May 15 and November 15.
Maturity, $465 each six months from May 15, 1904, to Nov.
tional

15, 1933, inclnsive.

Oaanah, Teina.— Bond O^eringr.— Proposals will be received at any time by J. L. Elbert, Mayor, for $4,000 ii
10-40-year (optional) school-building bonds. Interest semiannually at the office of the State Treasurer at Austin. Certified check for $100 required with bids.
Baleigh Township, Wake County, N.
Bonds Voted.—
This townstiip on September 23, by a vote of 881 to 2, authorized the issuance of $30,000 6^ bonds in aid of the Raleigh
Pamlico Sound Railroad.

C—

&

We

We

,

11

—

—

—

THE CHRONICLE.

1254

77. p. 854.
The bonds were subsequently sold to the L. E.
Mumford Banking Co. of West Point at par for six per cents.
White Plains, N. :Y.—Bids Rejected— Bonds Withdrawn

V.

Tailabor^ School District, Essex County, N. J .—Increased
Inttrest Rate Authorized.— This district on September 24
voted to increase the interest rate on the $35,000 bonds
mentioned in the Chronicle September 19 and September
12 from 4i, the rate originally authorized, to i}4%.
Ventura County (P. 0. Ventura), C&l.— Bonds Proposed.—
Petitions are being circulated asking the Supervisors to take
steps looking to the issuance of $500,000 bonds for good
roads.
Yidalia, La. Bonds Voted. This place recently voted to
issue f 13,000 electric light and water bonds. The vote was
88 to 1 and the property value $76,813 to |9,150 in favor of

from Market.— We are advised that

Vigo County, In^.— Bonds Not So/(f.— The$48,0004< gravel
road bonds offered by this county on Oct. 3 were not sold.
Waco, Tex.— J5oTicb Not to he Issued at Present.— Owing to
a controversy over the title to the office of Mayor, the $500,090 bonds voted recently for water purposes will not be
Issued until the question is settled, which will probably be

Windber, Pa.— Bonds Authorized.— The Council has authorized the issuance of $13,000 bonds to complete the new
municipal building and the sewertige system.
Winton Place, Ohio.— Bond Sale.— On October 6 the $45,OOO
30-year sewer and the $8,000 i% 30-year street bonds
described in V. 77, p. 663, were awarded to the Fifth National

in fifty or sixty day?.

a

Waldo, Wis., School District.— Bond« to be Jsstted.— This
district proposes to issue $7,000 high-school- building bonds.
Warren, Ohio.— Bond Sale.— Oa October 3 the six issues of
street bonds aggregating $30,400 described in V. 77, p. 793,

Bank at 100-755 and 100'833 respectively.
Woods School District, San Joaquin County, Cal.— Bond
Sate.— On September 21 $2,500 6| lU-year school bonds dated
July 1, 1903, were awarded to R. E, Wllhoit at 104. Denomination, $250. Interest, annual.
Wylie (Tex.) Independent School District— Bond Offertngr.- Proposals will be received until October 25 for $5,000
i% 10-40-year (optional) gold bonds. Bonded debt of dis-

were awarded to the Western Reserve National Bank of
Warren for $30,403. No other bids were received.
Watf rtowu, Mas?. Temporary Loan.— Oa October 12 the
$60,000 temporary loan maturing April 10, 1904. was awarded

The following

:

DiKOunt.
Geo. Mixter. Boston

4'70»
i-iO%
4*74^
Co..;Boston...

LorlnB,

Tolman 4

Joio, Parker & Co., Boston
Jackson & Curtis
Kstabrook ek Co., Boston

ZX«count.
4'76t
4-88«

TEERITORY OF HAWAII

4-t:8%

Sealed proposals will be received by the undersiifned. Treasurer of ttie Territory of Hawaii, until
NOVEMBKU IftTH. 1«03, at 2 o'clock P. M., for the
parchaee of all or any part of $1,000,000 4\4i Public
Improvement Coupon Bonds of tne Terrilcry'of
Hawaii. Bonds to be of the denomination of $1,000
each, to be dated October 1, iyo3, and to mature
October 1, 191^, with option of redemption by the
Territory on or after October 1, 1908. Interest
Principal and interest
payable semi-annually.
payaDle at the office of the Treasurer cf the Territory in Honolulu or at Wells, Fargo & Company's
Bank In New York Cliy. at the option of the holder
The bonds are exempt from all taxes and are a
direct cbartie on the consolidated revenues of the

be Issued pursuant to an Act of the
ConKrejs of the UnitPd States of America, entitled
"An Act to Provide a UoverniDeut lor the Territory
of Hawaii, approved April ao, ItOO, and pursuant
t.o an Act of the Ijegisiature of the Territory of
Hawaii, entitled An Act to Provide for Public
Loace." approved April ;^5. H'03. and an Act of the
said Legislature entitled "An Act Making Special
Appropriations for the Use of the Government of
the Territory of Hawaii During the Two Years
Which Will Knd With the 3olh Day of June, A. D.
19i>5," approved July 11. 19u3, and the said issue Ot
bonds Das Deeo duly approved by the President of
the United States.
The bone's will be engraved under the supervision
of and certified us to genuineness by the United
States Mortgage A Trust tompany, and the legality
approved by .Messrs. Dillon and Hubbard ol New
York, whose opinion as to legality or dupllciite
thereof will be delivered to the purchaser or purwill

chasers of said bonds.

Kach bid must be accompatied by a duly certified
check on a Xatlotal or ^tate Bank or Trust C</mpany, payable to the Treasurer of the Territory of
Hawaii, for two per cent of the par value ot the
bonds bid for.
reserved to reject any or all bifis.
Delivery of the bonds will be made on November
24tb, lUi>3, at 11 o'clocir A. M. at the <iffice of the
United States .Mortgage & Trust Company, 55 Cedar

New

I ?<i

Manlclpalities,

Denrer.

&.

SONS,

MASON, LEWIS & CO.
BANKERS.

Rudolph Kleybolte&Co.
BANKERS,
DEALERS

Corporatlont,

TTrWe for OirevXar.

San Francisco. Boston.

Chicago.

and

Suitable for Savings Banks, Estates, Trust
Funds and conservative private investora.

Cblcago.

Pblladelpbla.

Perry, Coffin

&

Burr,

INVESTMENT BONDS

Iir

MUNICIPAL, RAILROAD and

STREET RAILWAY

60 State Street,

BONDS.

BOSTON.

1

NASSAU STREET, NEW YORK.

Interest Paid on Daily and

Time

Depositt.

FAESON, LEACH &

CO..

Public Securities,

T. B. POTTER,
MUNICIPAL and DAKinQ
D^'^»-'««

CORPORATION

172 Wa8hi£^ton Street,

CHICAGO,

-

-

IL.L.t.

-

LIST ON APPLICATION.

is

Yorit

(

VHICAKU.

BOSTOH.

YUKfk.

MUNICIPAL AND

STOCK CERTIFICATES-\^&\U^.
Seal Presiti $1 50; with lock

and key 13

50.

D/J/un C— Engraved «iid hithographert, or partly
UVI1UM
Lithograpbed and partly type printed.
large asscrtUient of borders, tints atid vignettes.

ALBERT
B. KI\Ci & CO.,
Engravers and Lithographers,

Telephone Connection.)

103 William

St.,

N. Y.

&

Co.,

BEND FOR

LIST.

OENISON, PRIOR & CO
CLEVELAND.

X7X

La Salle

Street, Chicago.

Slodget, Merritt

Sc

Co.,

BANKERS

BOSTON.

Kansas Municipal Bonds

CORPORATION

BONDS.

INVESTMENT BONDS.

GEO

R. CARTKR,
Sec'y Hawaii Territory.

MacDonald, McCoy

PHI1..AUEJ>FU1A.

Ity.

the undersigned a' the
Mortgage Jt Trust Company. 66 Cedar Street, New York, i.r at his office in
Honoln u, H. T., but no bid will be entitled to corisidera ion unless received by or before the hour set
for receiving bids.
For circular of in formation and blank bid, address
United States Mortgage & Trust Company, 65
Cedar Street, New York.
A. N. KEPOIKAI,
Attest:
Treas. Hawaii Territory.

HEW

Bids will be received by
office of the United States

A

VESTMENT BONDS
OF

BOSTON.

•

Street.

INVESTMENTS.

Corporation Railroads

Service

E.H.ROLLINS

'

right

1933.

BONDS.

Territory.

The

1,

Improvement Bonds.

OFPICK OP THE TllEASrHER OF THE
Territory of Hawaii,
Honolulu, H. T., October 2t*, 1903.

The bonds

&

AMD
Public

—

York, Pa. Proposed Increase in Interest Rate. In order
to give the Finance Committee the authority to sell 4^ bonds
in the event of a failure to float 8 per cents, an ordinance was
introduced recently in the City Council increasing the rate
of interest from S'^i to 4.% on the proposed issue of $400,000
sewer bonds mentioned in the Chronicle August 1.
Bond Sale.-Thia city has sold to the Security Title
Trust Co. of York an issue of $37,000 3i^^.highway improvement bonds at par and interest. Denomination, $1,000.
Date. Aug. 1, 1903. Interest, semi-annual. Maturity, Aug.

INVESTMENTS.
MUNICIPAL

LOA^fS.

S190005000
4:^% Pnblic

Assessed valuation $400,000.

trict, $18,200.

Waxahachle, Tei.afi.— Description of Bonds.-The $24,000
ii 10-40-year (optional) school- house bonds, registered by the
State Comptroller on August 24, are in denomination of $600
and dated June 39, 1903. Interest, semi-annually in Austin,
Bonded debt of city, including this is^sue, $114,000. These
bonds are in the hands of L. L. Shackelford, City Treasurer,
for sale at not less than par and accrued interest,
West Point, Va.—Bond Sa/e.— No bids were received
October 8 for the $15,000 5% 30-year water bonds described in

NEW

received October

Wm.

the bonds.

Home Savings B'k (for 130,000)..

all bids

5 for the $9,000 ii refunding bonds described in V. 77, p. 798,
were rejected. The bonds will not be re-offered, we are informed, as the amount will be included in the tax budget.
Wilkes County (P. 0. Washington) Ga.— Bond Offering.—
Proposals will be received until 13 m. Nov. 4 by
M.
Seins, Commissioner of Roads and Revenues, for $40,000 'i%
court-house bonds.
Denomination, $1,000. Date, Oct. 1,
1903. Interest, semi-annually.
Maturity, $1,000 yearly on
Oct. 1 for twenty years and $2,000 yearly on Oct. 1 of the next
ten years. The county has no other outstatding bonds or
indebtedness.
Assessed valuation, $2,747,270 and the real
value about $4,000,000.

—

to Geo. Mixter of Boston at i'10% discount.
offers were received

[Vol. lxxvii.

Con<yre8s Street, Boston.
3« NASSAU STREET, NEW YORK.

16

BoUKht and Hold.
D. H.

MARTIN,

Topeka, Kan.

STATE. CITY k RAILROAD BONDS.