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including
Railway & Industrial Section
3
Railway Earnings Sectioii
; VOL, 97
Uu.'i'
V
-.j,f >
Electric
Bankeris' Convention Section
Bank & Quotation Section
State and
Clearings
i <ppe (frlxxomthi
p|ipi
NO. 2521
Inc. or
$
Afontlis.............v.,.0 00
European Subscription (includingpostage)..;.......^....
13 00
Cleveland
Detroit
7 50
Subscription six months (including postage).......!...'....
Milwaukee,.
£2 14s.
£1 lis.
Annual Subscription in London (including postage)
..............
8ix Months Subscription in London (including postage).
$11 50
Canadian Subscription (including postage)
(semi-annually)
Terms of
Grand
c
Two
(14 agate Lnes).*,..
$4 20
Months
22 00
,(8 times)
} Three Months ,(13 times)......;
times).................. 29 00
gix Month8
(26
50 00
Rt&ndihir Business Cards
Standing RnsinesS cards <
( Twelve Months(52 times)
'
.
Chicago Office—Geo. M.
87 00
Shepherd, 513 Monadnock Bio ,k; Tel.Harrison 4012.
Smith, 1 Drapers' Gardens, E. C.
London Office—Edwards &
WILLIAM
P, O. Box 958.
Rapids.
COMPANY, Publishers,
Front, Pine and Depeyster Sts.,
New York,
jgcgg
r:
by WILLIAM B. DANA COMPANY,
Treas.; George S. Dana and Arnold G. Dana,
Arnold G. Dana, Sec.
Addresses of all. Office of the Company,
■
:
1
1
— .
asss
a
morning
...
,
.
.
2,778,785
752,896
1,110,473
1,159,451
1,522,000
+ 14.1
...
Rockford—
Youngstown
"
Canton
...
made up'by telegraph, Ac., Indicates that the total bank
States for the week ending to-day
53,464,117,804, against $3,339,451,922 last week and $4,271,490,869 the
corresponding week last year.
Columbus Day holiday in the week this year.
Philadelphia
........
Baltimore
Chicago
St.
V
;
Louis
New
Orleans
Other cities, 5 days
Total all cities, 5 days...
All cities, 1
day....
^
Total all cities for week
258,647
532,242
422,922
+ 12.7
Lima
,543,798
440,285
Lansing
468,043
264,576
48,936
473,466
—1.1
225,107
81,397
—39.9
39,450
30,070
+4.3
335.280
335,583
510,786
...
396,979,542
+ 15.0
376,530,634
373.596.5ifc
+ 15.9
48,327,163
16,605,664
11,818,730
12,805,512
7,121,574
4,419,252
3,427,660
3,259,761
47,181,612
San Jose...
$2,954,459,576
650,002,016
—24.8
580,958
470,000
San Francisco
Los
Angeles—..
15,026,117
7,548,481
2,487,414
Portland
Salt Lake City..
+ 9.0
—19.6
Diego
L._
Fresno
Stockton
North
Yakima..
—3.0
$3,604,461,592
667,029,277
—20.9
$4,271,490,869
—18.9
—8.3
will be given next
275,000
Total Pacific..
135,140,641
118,267,619
63,227,514
33,446,512
19,408,824
...
City
Minneapolis
Omaha
10,583,509
9,913,558
8,287,532
7,596,339
5,428,395
4,100,000
3,511,278
1,886,180
1,887,825
1,893,470
2,000,000
687,811
66S.664
750,008
353,632
1,680,779
1,288,472
St. Paul........
DenverJ..----St. Joseph..
Duluth
:
Des Moines
Sioux City
Wichita
Davenport
Cedar Rapids...
Baltimore
Buffalo
....
Albany
Rochester
+ 38.0
+ 8.1
—0.6
Wilkes-Barre...
Wheeling......
2,291,916
Reading
Wilmington....
+ 14.9
+ 33.6
+ 70.0
Erie
1,167,947
915,013
538,411
Chester
Binghamton
+ 11.5
+ 28.8
+ 17.7
.
+ 69.9
Altoona
Lancaster
Montclair
r—.
Springs
Fremont
...
Waterloo.
Helena.
Aberdeen.
Billings
..
Tot. otb. West
-
.
'
2,600,739
2,249,596
1,664,403
1,526.999
1,261,302
1,768,078
St.
Louis
j__
New Orleans.
Houston
Louisville
Galveston
Richmond
941,461
929,736
1,521,888
881,366
457,441
909,238
Savannah
596,230
494,600
Fort Worth
608,143
569,067
Norfolk
+ 14.4
+4.3
+ 33.1
+ 31.1
+ 18.2
646,500
519,516
559,588
1,044,922
1,608,022
Atlanta
Memphis
Nashville...
Augusta
Birmingham
Little Rock
Jacksonville
Total
Middle- 2,142,465,921 1,980,675,017
+ 8.2 1,770,787,962 1,810,637,623
Charleston
Knoxville
158,748,727
8,576,200
5,330,058
3,322,126
Boston—
Providence
Hartford
New Haven
Portland
Worcester
Fall River
New
Bedford...
Lowell
—.
Holyoke....
+ 26.5
+ 34.7
1,159,750
+ 51.0
+6.7
+2.0
884,137
504,729
625,182
500,014
+ 11.8
.165,954,598
+ 10.1
555,411
800,000
586,858
422,890
+ 31.4
750,000
575,133
188,712,478
168,800,522
2,828,180
2,131,013
2,783,196
1,715,215
Springfield
140,883,136
7,891,300
4,259,865
2,884,356
2,105,910
1,848,813
2,377,406
144,244,752
7,315,400
3,963,762
2,474,516
2,428,179
2,267,153
2,200,933
1,273,289
884,515
1,335,494
+ 17.2
+ 34.5
+ 34.3
+ 16.5
—6.0
165,194,083
8,939,900
3,722,450
2,783,404
2,328,667
2,200,099
2,959,785
1,392,676
1,262,134
541,032
474,653
Chattanooga
Mobile
Tot. New Eng.
Not*.—For Canadian clearings tee !"Commercial and Miscellaneous
+ 28.3
—8.3
+ 16.5
+ 23.6
191,798,883
Ntwi."
1,300,000
669,220
773,724
613,902
754.485
564,204
325,645
.
115,227,629
114,827,510
56,134,758
27,912,600
15,982,118
11,202,463
+ 14.3
32,176,996
16,816,179
12,525,484
10,823,438
60,099,058
27,896,551
17,482,144
10,828,747
10,537,294
6,476,231
4,497,336
3,795,394
3,324,984
3,621,241
1,834,081
1,317,674
1,456,857
1,010,000
10,510,040
6,777,399
5,760,002
4,415,543
2,508';690
3,735,202
1,727,702
1.316.S32
1,479,663
1,407,174
1,008,461
7,640,322
6,264,572
5,048,122
3,599,658
3,490,204
1,630.359
1,346,862
1,861,266
.
913,639
634,969
773,143
491,845
325,224
1,462,259
548+08
685,653
741,467
657,546
653,188
380,084
27*2,665
1,234,517
1,543,804
986,369
•'?. 1,027,412
440,667
187,125
,
1,048,640
'
742,935
465,701
344,114
1.130.010
844,455
511,836
190,000
217,002
673,120
447,229
426,556
149,611
174,002,769
150^66,602
159,604,94^
81,042,974
19,319,556
76,031,277
11,981,973
10,789,000
7,173,208
«18,167,504
9,725,024
9,081,697
7,349,822
5,195,540
4.507.584
5,180,671
2.575.585
2,247.754
3,000,000
2,463,784
1,947,737
2,190,084
1,362,457
2,901,107
5,283,276
1,148,097
11,003,530
10,060,500
7,141,344.
14,764,258
t
242,457
81,689,941
84,046,947
21,457,556
19,883,002
10,709,991 Not incl. in11,989,433
13,579,420
11,307,500
11,525,500
7.962.663
8,183,851
16,831,846
20,488,630
9,607,103
10,401,398
8,042,503
9,669,951
10,500,631
9,573,484
7,996,257
8,879,797
4,106,491
4,150,912
2,130,076
2,807,963
3,073,956
3,372,945
2,441,088
2,922,880
3,030,000
3,262,909
2,673,158
3,458,413
1,880,371
2,567,064
1,550,000
Macon
2,297,582
6,520,198
Austin
1,802,799
Vlcksburg
309,946
438,704
1,375,455
1,375,998
387,454
Oklahoma
Jackson
Muskogee
Tulsa
Meridian
Tota
Southern
Tota
Bangor..
+ 39.1
3,089,187
1,581,531
1,660,038
1,650,000
1,002,455
180,005,430
;
1,610,448
693,300
550,000
+ 4.5
-
500,427
...
—9.7
575,000
+ 20.4
16,252,314
12,998,174
11,900,000
6,532,513
5,948,720
4,342,329
515.000
Hastings
+ 18.0
793,300
650,000
1,369,451
340,266
-
Pueblo
+ 17.8
600,000
1,822,763
445,935
...
Greensburg—,
+ 12.9
+ 17.0
'
1,737,546
1,722,283
855,862
2,036,354
989,772
1,007,497
7,456,588
4,057,087
1,594,962
1,838,771
•
+ 25.8
139,370,637
49,241,818
33,305,009
8,895,616
6,603,879
7,022,485
4,062,333
128,724,0S7
45,353,760
34.870.06S
8,845,463
6,563,258
2,473,778
1,298,039
2,112,371
1,453,191
1,125,265
2,339,667
1,621,006
1,392,615
Trenton
....
+ 17.5
7,908,455
3,958,143
2,600,000
2,900,000
3,014,881
1,908,292
2,365,635
1,831,566
.
Syracuse
York
+ 14.6
6,266,315
4,978,058
Scranton
'
+ 6.8 1 ,518,056,219 1,544,367,805
+ 15.9
7,864,836
...
S
%
6,773,217
„
Washington
Fargo
1910.
1911.
Colorado
1,827,477,634 1,710,864,757164,668,872
112,057,607
54,039,638
47,142,671
37,844,903
32,190,119
11,062,001
15,265,247
+ 10.4
—23.2
63,329,369
Kansas
Topeka
11.
Inc. or
Pittsburgh.
+ 23.5
_312,460 -±12-0
...
Reno
__
Clearings at—
New York
+ 8.5
+ 20.5
1
Lincoln
Philadelphia
+ 17.5
53,974,863
22,210,158
14,269,093
—16.0
,
+4.4
+ 23.5
(56,413,979
San
Dec.
237,543
411,382
405,793
398,510
372,166
223,173
—4.0
Tot.Mid.West.
—17.4
Week ending October
"
383,872
416,343
40,778,776
318,158,687
69,550,410
18,260,276
The full details for the week covered by the above
-
^'£434,193
167,074,002
1912.
•
648,615
+ 3.0
.....
33,662,261
267,183,517
75,823,816
17,902,253
Saturday.
We cannot furnish them to-day, clearings being made up by the
clearing houses at noon on Saturday, and hence in the above the last day
of the week has to be in all cases estimated, as we go to press Friday night.
We present below detailed figures for the week ending with Saturday
noon, Oct. 11, for four years:
1913.
+ 9.1
—..
3,889,112
2,634,446
2,506,222
"1,103,252
1,414,719
987,317
861,864
'
5
919,988
1,406,848
969,710
602,852
545,794
492,000
552,020
611,125
356,557
283,143
341,250
368,367
389,578
398,690
197.484
291,382
Danville
Sacramento,.
$2,852,635,113
611,482,691
/,
.
-441,566
Ill-
Jackson
Oakland_...-.._
$3,464,117,804
+22.9
+ 18.2
...
Spokane._
$2,222,417,705
630,217,408
1,177,451
1,004,088
583,587
601,842
415,360
498,139
443,028
708,894
—■
Pasadena
Seven cities, 5 days.....r.
-
523,470
"
—
Mansfield
—22.0
'
852,070
•
858,008
Decatur
—27.2
138,703,419
687,425
968,749
1,029,013
8 82,400
707,871
—7.1
$2,149,991,495
190,645,930
•
2,252,243
703,246
+ 1-7
—15.4
5,371,625
Cent.
1912.
$1,558,877,462
+ 11.2
+ 20.0
130,264,977
.....
.....
+ 21.6
732,103'
3,163,868
2,711,884
2,002,413
—8.5
Tacoma
;
+ 4.9
+ 3.5
4,292,206
2,994,371
1,683,351
2,797,279
734,186
1,009,908
1,035,504
1,079,000
—5.5
1,757,993
1,058,216
—27.5
Per
Telegraph.'
York
3,606,181
3,393,305
+ 10.0
496,489
649,852
833,154
Seattle
New
5,073,600
+ 19.4
998,472
46,578,069
20,480,477
11,840,346
12,162,248
6,835,171
3,240,788
4,758,174
3,231,938
2,250,802
2,397,225
792,165
1,102,050
1,076,135
739,571
1913.
+ 31.1
Owensboro
The following table,
Week ending Oct. 18.
20,316,096
14,977,649
8,207,152
Adrian
'
have been
Clearings—Returns by
+ 7.0
+ 10.8
700,000
South Bend
clearings of all the clearing houses of the United
Boston
692,501
619,421
650,374
454,567
Bloomington,
Ann Arbor.
CLEARING-HOUSE RETURNS.
23,057,428
23,449,094
15,099,599
7,864,980
'5,094,900
2,869,845
2,914,328
711,812
1,266,197
1,410,680
1,693,000
704,100
1,033,324
2,088,565
1,300,000
...
Lexington
20,245,250
257,497,083
22,359,400
19,077,816
18,225,506
13,622,830
9,533,896
*6,179,800
259,623,572
22,256,850
18,541,063
+9.4
+ 20.4
Kalamazoo
Quincy.
-
facob Selbert Jr., President and
Vice-Presidents;
3,199,231
2,383,459
Springfield, O...
B. DANA
Saturday
every
3,500,000
__
Jacksonville,
Published
4,807,687
3,500,000
Dayton
Evansvtlle...
Akron
%
+ 16.9
+ 21.6
+ 5.6
+4.3
269,742,092
Springfield, 111..
Fort Wayne....
Advertising—Peir Inch Space
Transient matter per inch space
__
Peoria
Railway and Industrial (3 times yearly)
Elkctric Railway (3,times yearly)
Bankers* Convention (yearly)
Bank and Quotation (monthly)
Railway Earnings (monthly)
Columbus
Toledo
Subscription includes following Supplements—
Stat® And City
Indianapolis
1911.
Dec.
315,257,329
24,614,250
24,347,850
24,466,916
16,730,674
8,415,070
6,680,000
5,742,024
3,850,000
Chicago j
Cincinnati.;.
L..$10 00
For One Year—
For Six
European
i912.
1913.
terms of Subscription—Payable lii Advance
.
ending October II.
at—
wppwi v
iQWPn
City Section
SATURDAY, OCTOBER 18 1913
r.'-.y., i-.
Week
i,
Railway Sectioii
all
Outside N. Y...
236,713,473
2.080.664
2,487,983
1,300,000
2,628,147
5,034,796
1,509,221
377,197
507,413
1,097,602
1,057,063
339,553
524,175
959,207
3,339,451,922 3,061,986,906
1,511,974,288 1,351,122,749
6,965,314
9,932,952
8,099,287
4,297,469
3,283,775
3.475.011
2,784,400
2,000,979
2,621,008
2,567,895
1,729,273
1,186,323
1,652,723
2.660,861
1,300,000
1,979,782
492,345
545,000
660,382
300,000
250,000
+ 6.0
217,417,751
198,994,771
+ 9.1
2,802,785,176
2,849,460,293
+ 11.9 1,284,728,957
17305,092,488
441,749
223,262,037
21,539,465
1068
able
OUR CONVENTION NUMBER.
With
to-day's issue of
scribers
"Bankers' Convention"
our
our
sub¬
Section, report¬
ing the proceedings of the Convention of the American
Bankers'
Association
held
This Convention number gives all the papers
dresses read
and also the
and
delivered
before the
and ad¬
Convention,
proceedings and discussions
the floor,
on
including the deliberations of the Trust Company
Section and the Savings Bank Section.
THE FINANCIAL
SITUATION.
The attitude of the Administration at
towards
business
disquieting.
more
a
the
new
world
is
Having put
Washington
steadily
becoming
the statute books
on
tariff law which in many of its essential feat¬
is not over-considerate of the industries which
ures
have been
enjoying half
duties and therefore have been built up in a sort of
hot-house
atmosphere,
industries would
might imagine that these
one
be left undisturbed for
now
and allowed to work out their salvation
might.
be
But apparently
denied
them.
On
time
best
as
a
they
this small boon is to
even
Thursday, according to the
"Evening Sun" of this city, the announcement
made at
Washington that President Wilson had
was
ap¬
proved the plans of Secretary of Commerce Redfield
for
investigation of the acts of manufacturers who
close their factories
may
reduce
or
tariff
be
law.;
urged
It is stated that
kept stirred
by the
This
and that
up
that
means
new
appropriation is to
an
Congress for the carrying
upon
of that character.
the plea
wages on
that such curtailment is made necessary
of work
on
things
is not yet near.
anti-trust
new
ently radical character.
a
sentatives
his
legislation of
speedy
an appar¬
difficult to
how investors
see
can
be induced to pro¬
vide the capital that will be needed to keep
portation facilities
*
The
the trans¬
with the requirements.
up
*
*
*
proposed increase is very moderate and will
lightly upon any particular unit of traffic.
If the railroads
are to have the
necessary funds with
provide the transportation facilities abso¬
lutely required for the proper development of this
country, this increase in rates is necessary, and, as
the
commercial
health
of
the
United
It is well known that in
made
public in which the President
in
purpose
that regard,
and
urged
his intention of entering the
up
in
carrying
Mr.; Clayton
in his purpose to
his
out
obligingly
anti-trust
acquiesced.
sides this the President continues
resolute
as
force through banking and
as
Be¬
ever
currency
legislation along the lines embodied in the pending
bill, though here, fortunately, it
considerable
seems
opposition
likely he will
from
Senators
"who feel that they ought not to sacrifice their convic¬
tions and
the
public'interest, when
stake, tp party exigency
or
much is
so
at
the insistent demand of the
President.
The
and
face
Now that the Railroads
sion is
again appearing before
are
similar request,
a
too—already
troubles
when after years
and
were
difficulties
new
about to enter
they
upon
were
a
week the railroads in what is known
fication
Territory
Mississippi
and
,
north
of
the
new
duced in support
of the
of
of the proposition;
But
inquiry, when railroad
new
hope, confident that their
its consent,
they
are
given
which has left them in
a
if the railroad interest is
a
schedules,
ever
announcement
Brandeis of Boston
State
Commerce
in
and
no
proposing
a
an
advance
mod¬
The
are unanswer¬
now
so
blow between the
eyes
condition, wondering
again to be fairly dealtv
Before
the rail¬
their revised freight
that
came
to be retained
Louis
D.
by the Interthe op¬
Commissioner Harlan gave out the announcement
and at the
same
Brandeis had
rate
cases.
In
who has been
time informed the
consented to
act
public that Mr.
counsel
as
in these
half-apologetic tone Mr.. Harlan,
inclined to be just to the carriers
Commissioners, made the explanation
a
more
that it must not be supposed that the Commission
special theory
freight tariffs with the
very
longer refuse
Commission to represent
retained
This
the
ponents of the proposed 5% increase in freight rates.
any
Potomac
rates—approximately 5%.
arguments in favor of such
era.
was
on
dazed
chance to put in
a
had
Official Classi¬
care¬
managers were
case was
strong that the Commission could
to
hoping that
new
as
Ohio
Inter-State Commerce Commission
advance
a
comprising the roads east of the
rivers, have been filing
erate
re-investi¬
a
fully to consider the arguments and facts to be ad¬
time
upon
at
'of patient endurance of serious ills
and burdensome oppression
they
burdened
sorely
so
sorely distressed—are to be called
new
the Commis¬
obviously in duty bound to make
than the other
railroads,
so
permission to
both Eastern and Western roads to advance rates.
roads had
President
so
February 1911the Inter-
State Commerce Commission refused
aid
with
States is
inextricably interwoven with the soundness of its
transportation system, it is hoped that this increase
in rates will receive the
support of that public whom
it is the duty of the railroads to serve.
with at the hands of officialdom.
meet
•
which to
full
Clayton to give
policy.
*
bear but
eve
Judiciary of the House of Repre¬
not
additional tracks,
provided.
This h^s been done through the expenditures of
large afcmounts of additional capital, which has
greatly added to the charges the railroads must pay.
This, and the greatly increased rates of pay, as well
as the increase in other
expenses and taxes, has seri¬
ously reduced the return on capital invested, and
so
lessened the margin on capital as to render it
United States Senate and to remain in the House to
the
could
business
increased
This
have been moved except for the
terminal facilities and equipment
On Saturday morning last
the
was
disclosed
Mr.
on
considerable increase
hearing in 1910, due to increased busi¬
handled.
ness
by him to Chairman Clayton of the
letter written
Committee
Gross earnings have shown a
since the last
gation of the whole matter and to receive and
The President also has his mind set upon the
enactment of
the railroads to present
their petition for an increase:
to be; the Commission with
are
period of rest and quiet
a
Chairman of the Committee of Rail¬
as
Presidents chosen by
century of protective tariff
a
presented in the following masterful
are
by President Daniel Willard of the Baltimore
& Ohio RR.
road
week.
last
Boston
at
and
fashion
send to
our paper we
[Vol. xcvii.
CHRONICLE
THE
Commission
Mr.
about
Brandeis to advance
or
the
or
support
preconceived notion
Mr.
of
the
Harlan
argued
that the railroads will be represented at the
hearing
case.
by able attorneys and "will fully develop the concrete
proposition that the carriers
are
revenue," and therefore it would
proper
in
need
appear to
of
more
be only
that the Commission should "take steps to
develop the other side of the broad question," his
fear being that unless this is done the Commission "is*
likely to have
pose
a
one-sided record
of the issue."
upon
which to dis¬
OCT. 18
There
THE
1913.]
something ludicrous about the
seems
tion that the Commerce
variably in the
side
the
of
CHRONICLE
sugges¬
Commission, which has in¬
of large controversies taken the
case
shipper and
could
never
the least
see
least
often
too
could by any
possibility be led astray by the wicked
be
looking after the in¬
are
railroads; but if the Commission really
terests of the
felt that iri its
a
who
persons
guilelessness and innocence it needed
personal adviser, at least it ought to have selected
free from bias and who" could be trusted
some person
to act
is
fairly and justly, instead of
always presenting
individual who
an
mission,
too?
have.
He
hearings before the
numerous
has
appeared
Commissioners and
the
which
To the Editor
"Louisiana
editorial.
enterprise,
is
attitude,
would not have
as
a
the Commission
sure
their merits.
judicial
now
of the roads—has, in
users
a
But at
semblance of
judi¬
it boldly throws off disguise and
interests?
be trusted to look after their
these
and
Is it not
shippers,
by
absolutely certain that they
they have
by
their
influence
Until
more
recent years the
of their
power
were
the
rights
able to furnish.
supposed rights.
over
had
Mr.
as
Not only
large have
In 1910, when the
first
was
never
asserting their
about
propo¬
broached, shippers'
the country voiced objection
engaged counsel to
even
well
hesitancy
sition to advance rates
organizations all
Railroad managers were
as
evinced
least
con¬
enmity, lest they lose the traffic
shippers
least, is
weight
on
same
propriety
published before making
cial officer should
But he will
capacity.
adviser to the Commerce
no
an
of paying for
now appear
Commission, and hence
importance and influence that
other way command.
of the railroads is
Thus the
mission
is
to
or
hire
to
counsel
see
protect
any
side of
a
particular
controversy
If it is voluntarily to assume
protection to all sides and not prefer
another„
On
the
present
one
side
occasion the great
body of the public, the consuming
me so
of its contents.
use
That
judi¬
a
un¬
If Mr.
an error.
Brandeis is to represent opponents of the rate increase who
have
personal counsel, what arrangements have the Com¬
no
of the railroads who have
personal counsel?
no
channel has the Inter-State Commerce
ized to
care
What
Commission organ¬
for the stockholders' interest?
Yours
■
truly, ■'
>
..
.
A SUBSCRIBER.
Another of the week's
developments' in connection
with the Inter-State Commerce Commission and its
equally
to criticism.
open
According to ad¬
Washington appearing in the daily
Commissioner Charles A.
papers,
Prouty is to retire from
the Board next month in order to become director
of the
Bureau
to be created
formal
no
of
Physical Valuation of Railroads
by the Commission.
for the
It is stated that
has been
announcement
rangements
change
have
made, "but
masses,
have at
ar¬
been completed
with the Inter-State Commerce Commission and with
President
Wilson, with whom Judge Prouty. had
conference."
enacted
ways
We
told that when
are
legislation
a
was
providing for the physical valuation of rail¬
the Commission selected Judge Prouty to have
member of the Commission and
wo
lid be
give at the
same
prac¬
as a
time
adequate attention to the infinite details of railway
valuation work.
We
this
of
can
:
conceive of
no
more
unfit
appointment for
extremely difficult task of the physical valuation
the
railways than that of Judge Prouty.
Prouty has absolutely
He is not
called into
no
requisition.
the
new
Nor has he had
work.
temperament
undertaking.
any
of the two
1911 and
necessary
for
such
an
Personally he is above reproach, but
opinions in the rate
cases
ever
embodied in
Furthermore, in
his
occasions
hostile
spirit against the railways.
has
always
erroneous
official docu¬
comments
other
he
an
He wrote
of February
presented the most misleading and
body of statistics
ment.
special
Moreover, he does not
officially his conduct has been execrable.
one
Mr.
qualifications for the task.
engineer, whose services will often be
an
training for the
possess
Com¬
obligation, then it ought to accord the shelter
of its
over
to
to it that any
properly presented.
the
case
prejudiced in advance.
We cannot conceive it to be the duty of the
interest
to
seems
completely forget his position is
so
thinkable to me, and I think there must be
per¬
for them again in 1913, thereby
expense
be invested with
to become the channel of the
general charge of the work, and that it
his services in that
he could in
The Inter-State Commerce Com¬
private enterprise, but represents all the
a
tically impossible for him to continle his labors
saving the Government the
as
think
They
In 1910-11 Mr. Brandeis
side?
appear
I
Why,
appeared for the shippers, and he might with
fect
which
the increase.
judicial body, step in and throw its
a
the
of
injustice to the
represent them.
oppose
Brandeis to
therefore, should the Commission, which in theory,
at
"Times"
unbelievable that I would ask you to confirm the interview
vices from
that, but small shippers
and
not
work is
cessions from the railroads.
afraid to incur their
Commission
Commerce
editorial
people, and the statement of Mr. Harlan that Mr. Louis
and
and influence to exact all sorts of rebates and
or
is
been slow in opposing the rail¬
was
York
private
a
the
by Commissioner Harlan
Many of
than the railroads,
power
large shippers everywhere availed
which these
Inter-State
anything to be gained for them¬
never
doing.
so
of
reason
greater
possess
roads when there
selves
short statement
their side with force'and persuasion in
opposition to the views of the Carriers?
wealth,
New
the
In
and
exceeds the editorial above referred to in its
ers
Cannot the shippers
own
"Picayune" is
interests
own
mission made to engage counsel to represent the stockhold¬
proclaims its leanings.
will present
Orleans
its
objector to the increased railroad freight rates
least it has hitherto maintained
conduct;
drifting, and give the contents of
we
New
startling.
a
editorial
an
Confiscation."
Brandeis has been engaged
evinced
never
word, been advocate rather than judge.
cial
Railroad
is, it has
The truth
champion of the
subscribers:
our
coming before it strictly
cases
slightest disposition to be judicial, but has acted
the
the
are
represents
sufficiently
mission
a
by the ordinary
issue of the 11th I notice
stockholders of railroads.
supposed to act in
capacity and to decide
the
be
we may
not his
were
engaged him.
The Commission is
on
fact, if that
of
one
Advocating
:
The
of
of
matter
viewed
of the Commercial & Financial Chronicle:
roads.
a
is
from
us
Dear Sir:—In your
Oct. 10 there is
As
the proposed ad¬
case
Why should not the Com¬
matter
to
comes
invariably in opposition to the interests of the rail¬
habitual
yielding
security holder is evident from the following letter,
the
at
in
managers
*
are
assign counsel to look after their interests,;
How
You ask whither
to-day the bitterest and most inveter¬
carriers
railroad
in rates is vetoed.
Mr. Brandeis is
the
by
Why not
Then there
holders, whose interests
obliged to stand the loss in
headed
foe
shippers.
to present their side?
sacrificed
relating to railroad management and railroad affairs.
ate
the
readily to unreasonable demands, and who will
vance
jaundiced view of everything
a
as
the bond and stock
are
proposition advanced by the railroads,
designing
much at stake
as
engage some one
merit in any
and
1069
on
displayed
that and
a
most
Think of selecting
;
siieh
director of & btireau which is to make
a man as
of the' burden, there being exemptiPri now
of any use
whatever must be carried out in absolute
fidelity td just Standards by meri wholly free from
biaS dr
for those
whose incomd does riot exceed $3,000.
physical valuation—a piece' of work which td be
The
Transvaal
of
returns
productioii
gold
for
Migfiffy greater
thrin iri Arigust, sfio# a
prejudice!
Septehaber, alihorigfi iridicafiiig
a
Judging by Mr. Proufy's action as-a member of the1 prir diem rate of output
Cdmmissioti, he will regard it a duty to yield cjuite a littlri fes^ thriri fori the cdiJP^ffdihg
i^hote the interests arid equities of the railroads and period a yerir ag'd, thus cleritly denoting that the drs'Odhimerce
seek td devise
that; the1
valued,
its
invent some process
or
railroads
organizatiori of the lafebr force
which will show
over-capitalized arid
are
is yet
over¬
there
to enable the Commission to continue
so as
policy of screwing down rates.
Mr.
Wdrk, arid when if is stated that iri
bent of miricl is such that he will do this arid riot be
thd least bit cdrisciotls that he is
ciple of right and justice.
with
agree
We think
that for these
us
violating
Nor dods it
ritfriii.
tires with
td have
24,930 fine
other job at
eteated great
confusion and doubt
who will becoriie
part of the
Of
and
Not, only
statute.
new
bewildered,
which
but
of
officers
also in
are
as
presentation
deposit accounts
in
order
to
are
compelled to deduct
one per
couupon
cent from the face value
presented.
drawn
Indentures
bondholders
arc
cashing
protect their institutions they will be
of all coupons so
for
of great
are
•'
the
Which Will
all
cover
of
purpose
securing
Their provisions
variety.
Officers of all interested
cases.
a
result of
year's nine
decrease of 91,783 fine
a
(6,730,092 fine
ounces, doii-
with 0,821,875 firie ounces) and this falling
off is not
fully offset by gains in the other fields
(West Africa and Rhodesia), from which reports
Under
at
hand.
to
assume
Africa
as
that
existing conditions it
the
volume
whole this
a
of
seems
are
Safe
gold secured from
calendar year
will fall mod¬
erately below the 1912 total.
Building-construction
.
•
.
operations
in
United
the
September 1913, as gauged by the permits
issued, show a moderately greater total than fori the,
period
corresponding
of
1912
and
approximate
closely to the large aggregate of 1911.
earlier
iri
As in most
months, the amount of work arranged for
Greater
But
.
different that rio general rule can be framed
so
As
yield,, this
States in
quandary, believing that
a
i tasting
in
product records
oriiices from a year ago
Officers
of accepting them
or
in
who
month of 1912.
trustees, executors
state of doubt.
a
bonds
upon
companies
trust
of banks who have been in the habit of
pops upon
persons
treasurers
are
interest
pay
comply with their duties
guardians
all
among
responsible for the execution of this
Corporations
must
Con¬
source,
by the enactment of the Income Tax Law, has
gress,
diminution
further
months'
their disposal,
effort to tax incomes at
an
same
this
:
Through
and 747,893 fine ounces, respec¬
ounces
tively, in the
re¬
from his; colleagues that he is
assurance
some
23,539 fine OUriceS, making the total output fori the
706,180 fine ounces, against an average of
agreement
an
of their number under which the latter
one
The September
product is obvious.
mOnth
entirely right for the mem¬
seem
1912, the reason
for the sirialfer
gross
Physical Valuation Bu-
bers of the Commission to enter into
with
there is
Mr. Prouty from VeturriS Show that the daily average production was
impropriety in the transference of
the Commerce Court td the
number less thari at the same time in
readers will
our
reasons
shortage of Some
a
40,000' aS compared With May and over half that
prin¬
any
fesult of the Strike
appreciable increase direr August in the
Was nb
force of tiarids at
Prouty's
as a
Iri truth, ill ^epterribef
adverse* factor.
an:
there
New
was
York
was
increased
less
thari
activity at
a
a
year
ago.
number of
important points in the Middle States (outside of
New York City, of course), at some of the
leading'
cities of the West, at one or two Pacific centres and
iri a feW New
England localities.
In judging of the
Corporations are compelled to consult counsel; and the
significance, of the increase, however, the fact should
lawyers of railroads and industrial corporations,
not be overlooked that the month contained
Well
of banks
as
and
trust
companies,
as
giving
arc
business
Sundays" in
deep study to the complicated requirements of the
only
Income
five iri 1912.
grow
out
placed
.No
doubt, much litigation will
various clauses, and
bond issue
have
may
a
decision bearing
worth
no
as a
guide
others, because of the'difference of language
em¬
Treasury
to be as much mystified
They* of
persons.
to the
department of the Secretary, of the
appear
course, are
problems presented,
as
to them for instructions.
will
require
ternal
Government
<
district,
large.
A few
things
making
Much
other
giving earnest thought
a
seem
to be
just assessment
large force of employees in
a
revenue
as
appeals have been made
The collection of the tax and
clear.
the
litigation
every
cost
is
to
likely
in¬
the
to
arise, which will be of benefit to the lawyers, while
notaries
public will
posed for
reap a
harvest through fees im-
administering oaths to
declarations
to
the
tended
collectors of
making
persons
internal
revenue.
1913,
against
of
$76,929,515,
a
total of in¬
or
$6,629,949
decline from
a year ago,
and the
same
boroughs of Greater New York
except Queens, so that for the entire city the
parison is
between
$10,903,889
arid
com¬
$14,447,378.
Outside of New York the disbursements arranged for
under the
September contracts aggregate $66,025,-
626, against $55,852,188 last
in 1911.
At
quite
a
year and $63,048,759
few of the larger cities more or
less noticeable
gains over 1912 are in evidence, par¬
ticularly at Philadelphia, Chicago, Detroit, Cleve¬
land, Milwaukee, Minneapolis, St. Paul, San Fran¬
cisco, Portland, Ore., Cincinnati and Boston, and
number of municipalities of lesser
prominence re¬
a
port expenditures much
1912.
On
the
ark,
a
is true of all other
from Kansas
portion
September
v
more
Persons having large incomes do not resent the tax,
a
extra
than for the month of 1912, but $2,110,868 (2.7%) less than iri 1911.
Manhattan Bor¬
(9.4%)
but they'insist
that all citizens should bear
.
expenditure
ough records
ployed in the instruments.
Officers of the
four
Otir returns from 144 cities furnish
of different constructions which Will be
upon
upon one
in
Law.
Tax
an
day the present month, there having been
other
more
than double those of
hand, however, the returns
City, Washington, Los Angeles, New¬
Atlanta,
Birmingham,
St.
Louis,
Denver,'
THE
1913.]
©err, 18
CH jQNICLE
after he
Jndianapplis and Oakland show somewhat conspicu-
1071
attacked Huerta
bitterly ip the Senate
so
A
special committee qf investigation, found
op» deereas.es.
^n exhibit fpr a single month is of copr&e of ppnor Dominguez was take1! from the Hotel Jar dine §t
ijnportan.ee P compared with the showing for an night by twp secret service men apd put in an auto¬
extended period.
We have pointed out that the mobile pnd started for Cuarpadaca, but was assamonth's total exceeds that of last year moderately; sinated on the road? Before delivering his speech at¬
the total for the year to date is quite a little less than tacking Huerta, Dominguez made his will, -saymg
then and even below 1911,
For the nine months of that he knew his speech would mean his death, &pt
that some one had to make a stand for the honor of
1913 the prospective outlay at the 144 cities reaches,
pominguez made a sensational *teaccording to our compilation, slightly over 705 million the country,
dollars, as against 750 millions in 1912 and 718 mil¬ nouncement of Huerta in the Senate on Sept. 23;
..
1911.
in
lions
^
York's
New
"Greater
figures
He branded the Provisional President
are
1263^ miUkms, 17034 millions and 152% millions,
and
respectively, in the three years, but for the other
tional
citjep collectively are a record for the period—583%
millions, contrasting with 573% millions and 565
millions.
Twenty-five New England cities show an
Presidency."
which is
more
traitor," and added: "It is the duty of the Na¬
Assembly to depose Gen. Huerta from the
Huerta declares that the Chamber,
instead of working patriotically to
ment
and bring about
tive and become
9% million dollars from 1912,
loss of
aggregate
than accounted for in Boston and vicin¬
''assassin
as an
a
help the Govern¬
has opposed the Execu¬
peace,
of demagogues, "whose only
group
aim is to obstruct every move
of the Government at
ity; in
the
the
endangered and all should support the Executive in
the "Other Western" diyjsion, embracing
country west of the Mississippi River except
Arkansas, Texas, Oklahoma and the States on the
Pacific Coast,
also makes
the loss at 23 cities
a
miliums, the Pacific Coast (13 pities) 6 millions and
the
jSouth (25 pities)
Canadian building
a
nominal gain.
operations
were upon a. more
active scale than ip August, the improvement
most marked in some Western
being
localities, where
com¬
parative dulness, following the boom of 1011 and
1912, had recently prevailed. We have returns for
September from 24 cities in the Eastern Provinces
and 17 jn the Western division, and combined they
furnish
of
total almost identical with that for
aggregate of projected disbursements
an
$15,872,215,
a
For the nine months the esti¬
the month of 1912.
mated outlay arranged for at the 41 cities, however,
falls behind that of
$122,225,128 (of
which $66,198,332 in the East and $56,020,796 in
the West), comparing with $132,579,423 ($56,747,320 East and $75,832,103 West),
There is a gain,
it will be observed, of
a
year
ago
9% million dollars ip the EastT.
Provinces, and to this Montreal, Toronto, Port
ern
Arthur,
been
St. John,
large
Fort William and Quebec have
The
contributors.
The solemn
section show 6% million
.increases, the Middle West (27 cities) 10%
dollars
loss
in
the
West
reaches nearly 20 millions dollars, with the declines
quite general, bpt especially conspicuous at
EdmpH.7
ton, Saskatoon, Vancouver apd. Victoria.
It then says:
null henceforth.
On the other
hand, the 31 municipalities (not including New York)
that make up the middle
The decree of dissolution
defending the country."
declares all acts of the Chamber and Senate to be
less favorable exhibit,
reaching 4 millions.
precise time when the national sovereignty is
ment
;
obligations contracted by the Govern¬
toward the people and fpreigp nations and pos¬
terity place it in the imperious necessity of consider¬
ing the pacification of the country aboye all pther
interests, whether private or collective.
Otherwise,
the country might drift into a state of anarchy sounbridled that, if it did not justify, it might at least
furnish pretext for,
in
the intervention of foreign Powprs
internal affairs, thus lowering pur national
pur
djgnity, which must be maintained above allege.
If constitutional order is necessarily interrupted,
owing to force of circumstances, such interruption
an unavoidable measure for public good and only
is
for such
for
length of time as is absolutely
restoring a constitutional regime.
It is
proposed that the
assemble
five
on
new
indispensable
legislative bodies shall
will begin
Nov. 15, and regular sessions
days later, their first duty being to take up the
approving the election of the President and
matter of
Vice-President
of
the
popular clamor, Huerta
Republic.
on
To
appease
the
Sunday issued the follow¬
ing proclamation:
Upon assuming the constitutional PpoPresidency of the United Mexican States,
under cireumstances known to every one, my most
fervent desire was and continues to be to establish
Mexicans:
visonal
-
throughout the Republic, and I accepted then
responsibilities which this gigantic
labor demanded.:
4
peace
the sacrifices and
.
■
One of the
Events
haye mpved rapidly in Mexico this week.
By Provisional President Huerta's orders, all mem¬
ber^ of the Chamber of Deputies with the exception
of those of the Catholic Party were arrested on Fri¬
day pight (Oct. fO) of last week.
bers
confined
were
in
jail.
Ip alJ, 110 mem¬
Subsequently,
branches of the Mexican Legislature were
declared suspended and
calling for
on
new
Oct. 26,
proclamation was issued
elections of Senators apd Deputies
which also is the date of the Presidential
Huerta's explanation is that the
who
arrested
were
revolutionists.
Deputies
Their
spe¬
cific ict appears to
beep the signing of resold
tions of warping to Hpcrtg beqause of the disap^
pea.rgnce
Chiapas,
pf j}f?- Rplisaro Pomipgue?, Senator fpr
Maderista leader gnd pppqpept of Huerta.
a
fhg hedy pf gcnatpr Pominguez wa§fQpnd at Coypum* %
suburb of Mexico Pity,
The first step
a
election.
WCCP
both
formally
greatest sacrifices which I have been
obliged to make has been the publishing of a decree
dissolving the legislative bodies, which I have always
treated with the greatest respect, being anxious in
every way to secure harmony between the branches
of the Government.
Unfortunately, "this supreme
desire has been frustrated by the systematic and im¬
placable hostility with which the Chamber of Depu?
ties has opposed all acts of my Government.
op
Sept. ?4, the day
news
of the
|t Washington, on receipt of
dictatorship,
was
the
the sending of a de¬
spatch by Secretary Bryan on Monday morning to
Nelson O'Shaughnessy, the American Charge d'Affaires in ^he City of Mexico, instructing him to represen
to the
Mexican Master of Foreign Affairs
the United States would view with concern
pleasure
any
jbaUP that might
come to
that
and dis¬
the impris¬
After
oned members of the Chamber of Deputies,
a
meeting of the Cabinet at Washington
on
Tpesdiy,
Secretary Bryan, by direction of the President, sent
.
tYOL. XCVII.
telegraphic instructions to the American Charge d'Af¬
Some degree of political and
popular excitement
faires in Mexico to inform the Mexican Government
has been caused in
that, in view of President Huerta's assumption of
Crown
the
the Kaiser and the Prussian Government
permitting
Price Ernest Augustus of Cumberland to ascend the
role
of
Dictator
of
the
Republic,
Wilson would be unable to recognize
as
President
legal and
Prince
Germany by the protest of the
the
to
Imperial Chancellor against
constitutional the election of President and members
throne of Brunswick without
of the Mexican
of his claims to the throne of Hanover.
Congress set for. Oct. 26.
President
a
formal renunciation
In his letter
Wilson's note follows:
of protest the Crown Price referred to the
The President is shocked at the lawl essness of the
methods employed by General
>
of his brother-in-law to ascend the throne of Bruns¬
cere
friend of Mexico is
tion which has arisen
*
gard otherwise than
Huerta, and as a sin¬
deeply distressed at the situa¬
He finds it impossible to re-
as. an
United States Huerta's
act of bad faith toward the
course
in
dissolving the Con¬
and arresting the Deputies
It is not only a violation of the constitutional
guaranties, but destroys all possibility of a free and
gress
fair election
The President believes that an elec¬
tion held at this time and under the conditions as now
existing would have none of the sanctity with which
law surrounds the ballot, and that the result, there¬
fore, could not be regarded
of the people
so
The present move
Apparent is
on
a
par
on
the part of the Heir-
with his intervention
the
on
subject of, the Reichstag Morocco debate in Novem¬
ber
1911.
The
protest has proven unsuccessful,
Imperial Chancellor on Thursday sent a long
the
as
reply to the Crown Prince
to justify the position
by the Prussian Government. At the same
taken
time the Prussian Government formulated
a
reso¬
lution for submission to the Federal Council of the
German Empire revoking its decision of 1907
against
justified in accepting
or in
recognizing the
any
member of the House of Cumberland occupying
the
representing the will
as
The President would not feel
the results of such an election
President
wick.
"anxiety"
Dukedom
of
"North German
Prince is
chosen
Brunswick.
According to the
Gazette," the action of the Crown
heartily endorsed by public opinion.
*
It is President Wilson's intention to await devel¬
The Leader of the Irish
Party, John E. Redmond,
impracticable and impossible the
opments, evidently with the idea that Huerta will
openly
conduct affairs with such
compromise plan of passing the Home Rule bill by
excluding from the effects of that measure the part
will
bring about
result in
a
a
own
followers and
change of administration at
despatches,
Wilson of
high hand that his rule
revolt among his
tively early date.
ton
a
intention
ject of Mexico and the
now
compara¬
There is, according to Washing¬
no
on
the part of President
communicating, with Congress
tion is not
a
on
the sub¬
matter of ultimate interven¬
under consideration.
The Mexican
Cabinet, it is reported, has been discussing during
the past four days the
resignation of General Huerta,
who has
expressed to the Ministers his willingness to
Huerta is said to favor Gen. Blanquet as
resign.
his
.
and is being supported
successor,
in this
by
Senors Moheno and Lozano. but the other members
of the
Cabinet
said to be
are
pointment of Gen. Blanquet
would not
instead,
objecting to the
on
change the situation.
as successor to
not connected with the
Huerta,
ap¬
the ground that this
They recommend,
some person
who is
on
day.
Monday and will
His Secretary
says
go
to the Capital the next
the campaign work is
a
loan of
$2,600,000 in Paris, chiefly
through the chiefs of the Catholic Party in Mexico.
The
loan
is
presumably
on
short-term bills to be
re-paid out of the proceeds of the unissued portion
of the loan
arranged last spring when the bonds had
been
Great
duly sold.
■
r\\v'
The diplomatic representatives of
Britain, France, Spain, Cuba, Guatemala and
Norway, at
sideration.
or
also recommended
of
Mexico for the
of affording legation guards, should condi¬
require.
Mexico's
The
a
diplomatic
representatives
of the American
Government have not been
presented to him officially, he has not received them
officially, and is, therefore, not called upon to
leply to them.
.
"totally impracticable
will tolerate it.
No responsible leader of the Irish,
but merely as a means of
bill."
Mr.
as a means
of
settlement,
wrecking the Home Rule
Redmond offered fair and
sympathetic
consideration for further safeguards in the bill for the
Unionists and greater representation in
Parliament,
with greater control of local
practically
Rule
so
legislation.
"There
cause," he continued, "that I would
far
an
the bill is
as
are
limits short of betrayal of the Home
no
not go to
absolutely united Ireland, but
concerned, it is still 'full, steam
ahead'."
•'
Privy Councillor Ludwig Max.Goldberger, head of
Exposition Commission of Germany,
the Permanent
resigned
on
Tuesday both
as
member of the Commission.
Chairman
He is
and
as
a
credited with
being the leader of the strong opposition to Ger¬
man's participation in the international PanamaPacific Exposition at San Francisco, and in
many
quarters the blame of the Government's decision not
to
take
part
shoulders.
a
in
that exposition is placed
on
his
The Commission in question is
engaged
bitter
the
who
fight with Herr Ballin, Managing Director
Hamburg-American Line, and with others
favor the Government
in the
officially participating
Exposition.
temperate attitude in the matter
reply to
Washington. Huerta, it is
reported, is making the technical point that as the
notes
con¬
No section of national
Unionists advances the idea
in
so
ignored without full
speech at Limerick Mr. Redmond
opinion in
Ireland," he continued, "ever suggested such a plan
of
tions
a
declared the suggestion to be
tive governments
purpose
In
and unworkable.
conference in Mexico City on Wednes¬
day night, decided to recommend that their respec¬
a
send warships to
Admiralty, said in his speech at Dun¬
dee last week could not be
pro¬
gressing and Diaz expects to run for the Presidency.
Dispatches from Paris state that President Huerta
has obtained
of the Province of Ulster which Winston S.
Churchill,
First Lord of
in order to insure
present Government.
General Felix Diaz is scheduled to arrive at Vera
Cruz
opposes as
'
The
cashire
threatened lockout
on
Oct.
25
of
the Lan¬
cotton
mills] will, according [to cable dis¬
patches from Manchester, not now take place. The
Bolton Spinners'
Council_and the strikers of the Bee
the^men,fagainst the advice~of*the
uniom_recentlyjvcnt on strike, owing to^their
Hive Mill,.where
trade
objection to the personality of
one
of the overseers,
Oct. 18
THE
1913.]
10*3
CHRONICLE
signed the terms of a settlement on Thursday after¬
Work at the Bee Hive Mill will be resumed on
noon.
by
exception to the general reception ac¬
no means an
corded to
British market.
issues by the
new
It is
cable, for instance, that 88% of the
of Alberta issue was left with underwrit¬
Monday next.
announced by
the terms
Province
The cable has not yet fully announced
of the adjustment, but it ends a crisis that
Macara, President of
as the grav¬
described by Sir Charles
was
est in the cotton
Affairs in the
It is reported that a tentative agree¬
has been reached between Turkey and Greece,
ment
geographical division of the Aegean
There have been no reports this week of
Islands.
a
Prince William Frederick Wied
renewed hostilities.
has decided to accept
that decision after
of
;
begin at
He arrived at
interview with King Charles
the
for
Preparations
Roumania.
will
an
Coronation
once.
bonds, of which 70% had to be taken by the under¬
writers.
The
debenture bond
offerings of the
at
the
Continental
centres
the
situation has obviously become the control¬
money
Co.
Buenos Aires Lacroze Tramway
also
was
fail¬
have be¬
The London Stock Exchange appears to
distinctly
come
the Mexican situation.
nervous over
addition, the fortnightly settlement this
In
a
90% being unsubscribed by the public.
ure,
week
was
less general fear that un¬
settling failures might result.
Happily, these fore¬
accompanied with
bodings
and
London
In
debenture
last week offered an issue of
Power Co.
the nomination to the throne
independent State of Albania.
of the
Government, provincial and
.
routine stage.
which includes
including
while of the series of Canadian loans,
ers,
municipal bonds, only
30% on the average have been subscribed by in^
industry's history.
vestors, and results in the instances of industrial
Balkans seem to have reached the companies have been no better.
The Vancouver
Employers' Association,
the Lancashire
were
more or
not confirmed, although news comes
by
large jobber identified with the American
section of the market had been forced to apply for
cable that
a
Private bank discounts have closely
aid and had been
helped out to meet his obligations
approached the official rates and the expectation is
at the settlement.
Contangoes on Americans at the
ling feature.
general at the British centre that
very
in the Bank of
a
made
not
feeling
on
Thursday caused
on
of distinct
which
the
we
further rise
a
matter of only
an
Neverthe¬
our
the English market is
on
The recent attempt, to
pessimism.
referred in
advance
rather better
a
the London Stock Exchange.
less, the underlying tone
one
a
The fact that such
few weeks.
very
was
England rate to 6% is
last week's issue, tor feel
pulse of British investors by quite a chain of of¬
ferings of
new
in results that
into
discouraging
agreement has been entered
securities, has
a
formal
proven so
by the important underwriting concerns at the
British
centre
And it
is understood that before
made of any
to
stop new
issues for the present.
capital to relieve the
new
underwriters of the securities
they themselves have
This condition is not
already been forced to take.
discouraging
as
as
it
to
a new
tendency that
was
a
investment
market, investors
covered
that it
more
that
experience had shown
short time
having
profitable to
formal offerings of securities
sur¬
developing in the
British
was
the
appears on
We referred in the "Chronicle"
face.
ago
are
importance ample time will be allowed
.for the normal supply of
altogether
offerings
new
dis¬
ignore the
and await the bargains
were
usually available
settlement
the
was
of
feature
on
African
were
so
limited that the
A
in the British market.
possible to dispose of the Cape gold
When the schedules of the
steamships
changed,
were
it
was
thought that Wednesday would be the earliest that
the bars could be made available, but Tuesday now
week, £150,000
taken for India and £50,under¬
was
The remainder, it is
000 for the Continent.
stood,
Of the £760,000 in South
gold.
gold available in the open market on Tuesday
African
of this
ian
the official day
to have been settled upon as
seems
for offering the bar
have been in somewhat better
stocks
repute in London, having been
that attended
success
stimulated by the
offering of Brazilian rail¬
an
Still another
road bonds in Paris.
source
in the money situation in London is
that
ment
ended,
seem
on
Monday.
to have been relegated to the
Paris bankers
their
timation that
no
quotation
are
declared to be sulking be¬
Government's
own
background
bankers, in both London and
in the calculations of
mitted
the announce¬
troubles, although not yet officially
Balkan
of
of strain
£3,500,000 in Treasury bills are to be
offered in London
The
Brazil¬
secured for the Bank of England.
was
railroad
cause
underwriters
rule at 5%, though 6%
sections of the market.
Tuesdays in London.-
South
Paris.
experience at that time had been that
as a
some
discouragement
It has been found
scribers.
,the formal subscriptions
figure in
resumption of Russia's demand for gold was an added
after the allotments had been made to the formal sub¬
The
quoted
were
unequivocal In¬
.additional outside loans will be per¬
the Paris Bourse until the French
quite willing, later on, to divide
their commissions and thus make available the securi¬
national and the Moroccan loans have been financed.
ties at substantial
Nevertheless, quotations for the old Balkan loans have
low
the
This
policy,
on
were
fractions, if not full points, be¬
figures named in the official prospectuses!
we are
informed by cable, has since been
the increase again.
Consequently, there
seems en¬
couragement to believe that the British investment
situation may not be so bad as
cated
superficially is indi¬
by the recent direct failures of
offerings.
as
the underwriters
92% of the entire issue.
4 per
;
£3,500,000, which
offered last week, was almost a
ure,
cents, and
The
were
non-success
were
called
The bonds
to which
we
complete fail¬
upon
to take
were
ten-year
offered at 98}^.
said to have
London bank¬
have referred, but this
failure
was
rule well
been
as
pose
of conserving the market for the
a
when, in
supported, obviously for the
new
of time, they shall be issued.
course
ish 4s closed
on
pur¬
bonds
Turk¬
the London Stock Exchange yester¬
day at 86 and Greek Monopoly 4s at 53, the quota¬
tion
the
for
Turkish
bonds
being
without
net
change for the week, while the Greek issue is 1 point
lower.
Meanwhile,
Bulgarian 6s have declined 1
point to 100 and Servian Unified 4s
lower for the week at
803^.
points
are
Money rates for day-to¬
day loans closed in London at 334@3J^%, which
compares
of this loan may be
contributed directly to the meeting of
ers
capital
Thus, this week it is announced that the
New Zealand Government loan of
was
new
on
finished
with 3 3^%
at- 72
Russian 4s
are
a
week
ago.
»British Consols
11-16, against 72 7-16
a
week
}/% point lower at 89 and
Imperial 3s without change at 74.
ago.
German
CHRONICLE
THE
The
Paris
market,
already noted, has ruled
as
depres»ed, the Mexican situation being
matter of
a
distinct
Bank rate
[Von. xcra.
(against 4J£@4%%).
The private bank
rate in Paris has advanced
}/%% to 9H%( tn Berlin
quoted, comparing with 4K% ft ¥Sek
importance to Paris bankers, who have
large committments in the Southern Republic. Thus
4%% is
Vienna has: advanced to
6%, which is the
far the Bank of France has not deemed it necessary
Bank rate, Brussels remains at 4
7-16,% and Amster¬
to follow the Bank of
England and advance its dis¬
ago.
dam has been advanced
count, but the private discount rate has advanced
is the
J/8%,
at
French
gold
Bank
and
}/$%
has,
supplies
silver,
to
within
to
of
in
official
the
fact,
The
rate.
conserving
been
by paying out to the full
its
limit
in
now
same
leading foreign centres are London, 5%;
Paris, 4%; Berlin, 6%; Vienna, 6%; Brussels, 5%,
and Amsterdam,
5%.
the Governors have not felt inclined
change the Bank rate, because of the disturbance
The Bank of
trade
its
England in its weekly statement
Thursday made
conditions.
the
to
rise.
absence
The
of
settlement
fortnightly
in
owing
ease,
important commitments for the
rates
carry-over
considered
were
The
completed with comparative
was
3H>@4%, which
were
fairly nominal.
We have already
referred to the fact that the French Government has
intimated that
until
the
new
scribed.
no
foreign loans will be permitted
French
issues
been
have
fully sub¬
The effect of this has been to almost
pletely eliminate offerings of
character. £ The
Credit
com¬
of
capital
new
any
Lyonnais is arranging the
usual annual Credit Foncier loan and also
railroad
Official rates
the
that such action would naturally exert upon French
Paris
1-16% to 5%, which also
the official bank rate.
as
issue, but the big banks
Paris correspondents to be
a
Russian
reported by
are
abstaining from support¬
ing the market because the Government is not
per¬
two
It reported an in¬
£275,197 in its gold coin and bullion hold¬
ings and of £661,0.0ft in its total
portion of
from
on
favorable showing than iu
more
preceding statements.
of
crease
a
reserve to
52.79% the
There
year ago.
The pro¬
reserve.
liabilities increased to 54.3(1%,
preceding
was a
4$.<4%
week and
a
decrease of £386,000 in note
circulation and of £652,000 in public deposits.
Other
deposits showed
Loans
reduced
were
the
most
expansion of £547,000.
an
£750,000.
The loan item continues
favorable feature of the, statement, this
week's return showing a total of only
£24,773,000,
which compares with £33,505,,912 in 1912 and £28,-
242,725 in 1911.
The bullion holdings
below
are
of the two, years; mentioned and amount to
those
£35,987,528.
One
year
the
ago
total
£37,-
was.
mitting the issuing of the big Balkan loans that have
565,796 and two
beenl*
stands at
£25,5$1>O0Q and cprhpares pth £27,387,66®'
in 1912
nd £27,141,706. in 1911.
already prepared.
seems
The oil speculative
craze
have spread to a moderate extent to the
to
French center, as Russian and Roumanian oil shares
years ago
£37,360,921.
The
reserve
Our special
cor¬
have recently become the chief speculative features,
respondent furnished the foilowing details by cable
of the gold movement into and out of the Bank for
french rentes closed at 87.45 which
the Bank week.
87.92J^ francs
fact,
appears
-national
a
week ago.
with
compares
The Paris market, in
to be awaiting the offering of the
loan
before
new
proceeding with other issues.
It is expected that the amount of this loan will be
25Q,Q00,000 francs
first
as a
issue
but
the
in
the
Imports, £19,9,000, wholly bought
£140,000 (of which
market; exports,
open
£20,000 to Malta, £100,000 to Egypt and ^JJQ0
India), and receipts of £216,000 net from the
to
interior of Great Britain.
exact
total will not be known until the Chamber and the
Gold holdings, of the Bank of France are this week
Senate assemble for the winter session, about Novem¬
shown to have increased 1,651,000
ber 11.
silver
that
to
a
One
dispatch from Paris presents the view
bill will be rushed
through early in the session
provide
rentes
an issue of 1,400,000,000 francs in 3%
.Operpetuelle" at about 92 and suggests that
distribute such
to
to make
a
large
sum
it will be necessary
active market.
an
number of
a
developments particularly affecting German inter¬
It has been announced, for instance, that the
bar iron and the building iron syndicates
are
to be
liquidated in December, which shows that the efforts
of these syndicates to control prices have not been
successful.
Steamship shares at the German centre
have suffered as a result of the lower ocean
freight
rat^s and the unfavorable interpretation placed upon
the smaller movement of the shipping
trade, indi¬
cated by the British Board of Trade
figures for
September, which suggests
world's trade.
pool
are
closed
week.
.
*
-
/
■
not
at
Prospects of
considered
•
*
:■
Money in Berlin
with. 4%% last
compares
rv';
J
renewal of the shipping
bright.
4%%, which
.
slowing down of the
a
a
r
'
* *'■*
7^7--7777: 77.77.7
*-f
y
-
.
»•
r
_
t
■»
•
The European official bank rates have not
been
change,d this week, though the Bank of Bombay rate
was advanced 1%, to 6% on
Saturday.
In London
sixty day bankers' acceptances closed at 4M%
(against
bills finished at
a
week
ago) and ninety day
4%@4 15-1(5%, within 1-16% of the
C
a
*
•
francs, while the
35,9,000 francs.
circulation of
deposits
registered
contraction
a
of
There
20,450,000
francs and of 11,600,000 francs in discounts.
General
85*500,000
francs, treasury deposits increased 96,650,000 francs
reduced 13,075,000 francs.
were
The
Bank's stock of gold stands at the highest point for
the current week since the exceptional year of 1909,
when
the
ago
total
total
week's
it
3,620,250,000
was-
is
francs.,
3,46.3,703,000. francs.
This
One
year
3,230,775,000 francs and in l&ll 3,123,-
was
775,000 francs,
Silver is showing
a
gradual contrac¬
tion, which confirms the reports from Paris that the
Bank is
paying out silver
tematically
silver
is
policy in order tp
as a
its gold supplies.
conserve
632,772,000: francs,
and
sys¬
Its stpek of
with
compares
753,600,000 francs in 1912 and 799,500,000 francs in
1911.
Outstanding circulation is still well ahead of
but discounts are making favorable
earlier
years,
comparisons.
The circulation item stands at 5,780,-
610,000 francs.
francs and two
.
in note
increase
an
reduced
was,
and advances,
In Berlin there have this week been
ests.'
was
supply
One
discounts aggregate
.
-
.
one year ago
was
5,442,558,710
francs,
•
The
against
and 1,540,9.61,987
7
.
•
it
5,418,602,350 francs.
1,451,542,000
1,527,448,212 francs
francs in 1911,
year ago
years ago
,
■
■
,
.
•*
,
7
.
.
sr
ft-4."
k
>
*1V
.
■
,
An increase of 30,710,000 marks was reported by
thu Imperial Bank of Germany yekferday in its gold
item and the total increase of cash, including gold,
CHRONICLE
THE
Dot. 18 1913.,
iofe '
\_
Meanwhile, there wSs"af Monday, Columbus Day, being a holiday, there Was
circulation registeringi no ihar'ket. rOn Tuesday 33^% was the higheih :ahd
On Wednesday
a loss of 187,280,000 marks, loans a decrease of 1,-* ruling rate, with 3]4% the lowest;
the range Was 3%@3%%, with the latter Still the
164,000 marks and discounts a -reduction of 186,-'
Was
*
61,613,000 marks.
reduction in obligations, note
'
Deposits increased 9,995,000 marks:
bills decreased 59,703,000 marks.'
holds in cash 1 ;491,742,000 marks,:
578,000 marks.
and
Treasury
The Bank
which
now
with 1,167,460,000 marks in 1912"
compares
Thursday's highest and ruling rate
renewal basis;
Friday's
again 33^%, with 1%% the lowest;
was
maximum
and ruling
3%
4J^@4|^% for
Time motley closed at
3}4%-
rate
minimum
was
1,041,720,000 marks in 1911. Combining loans' sixty days (against 4M@5% last Week), 5% for
and discounts, we have a total of 1,129,372,000 ninety days (against 5@5)/2%), 5% for four months
marks, against 1,509,480,000 marks one year ago' (against 5@5M%), *5% for five months (against
and
and
in
marks
1,389,880,000
Outstanding
1911.
aggregates 2,065,312,000 marks, which
circulation
with 1,942,220,000 marks one year ago and
compares
1,897,580,000 marks in 1911.
-
5H@6% for sixty and ninety-day endorsed bills
Single h&mes
receivable and for four to six months'
.•
.
4M@£>%) and 4%@5% for six months (unchanged
for
the
week).
Commercial paper- remains ht
the
circles the increase of $4,262,100 in
surplus
of the Clearing-House banks and
reserves
companies
trust
not
"
notwithstanding the greater strain in
preSsion, although this increase was the direct result
of a reduction of $5,258,100 in the reserve require-
this
ments and not of any
'
have been in active
increase in cash.
As
a
matter
week,
fact, the cash
reserve
decreased $996,000, the banks
having lost $1,578,000 while the trust companies
There
gained $582,000.
was a
000 in the lean item and of
Western demands upon New York banks
posits.
have been
cantile
ments
reduction of $13,943,-
$24,036,000 in the de¬
quite active during the Week.
The mer¬
and industrial inquiry, as well as the require¬
of the Stock Exchange have been light, and
closing quotations
week ago.
fractionally below those of a
are
The formal offering of the $30,000,000
ton.
than
abroad
money
"
of
Commercial
home.
at
Reports from abroad that the proposed shut¬
.
down of the Lancashire cotton mills has been aver¬
Southern staple
of
change experts expected would result from the opera¬
tion of the
Nevertheless, there has been
tariff.
new
from bonded warehouses at the
The New Haven
capital market.
Ry. has also been enabled to offer its $67,000,000
of
6%" debentures, owing to the favorable action
of the Massachusetts Public Service
Notwithstanding the firm¬
one of our
authorizing the issue.
ness
in the monetary
Commission in
situation abroad,
been
largest international banking houses here has
quite freely offering funds at concessions from last
"
week's rates.
maturities
in the
This
4*4%.
There is
Pacific funds
/to
with
loahs
February maturity having been closed at 5%.
maturing Dec. 26, was closed
One item of $500,000,
at
case
new year, some
particularly the
was
extending into the
are
reason
now
to believe
that) Union
available in the loan market
larger extent than has recently been the case, the
was not desirable at
decision of the directors that it
this time to declare
an
extra
ceeds, of the sale of the
dividend out of the pro¬
protrac¬
period.
Latest reports from Washington indicate that $7,000,000 has thus far been placed by the
large fund for
a
ted,
'
Treasury
tober.
ThC
in
This
the
there is
agricultural
brings the
total
to
up
to
on any¬
This accounts to
large extent for the relatively easier tone in money
compared with conditions abroad.
that is customary at the close of the year do not
suggest that airy distinct relaxation in money
2^©3^%,
call
money
comparing
tates
'
4
in
With
With the
of
some
a
domin¬
comparatively light de¬
no incentive to
there is
bring gold forward, although, with demand sterling
at 4
5540,
slight further reduction would probably
a
be sufficient to force the
to
this
Such
side.
precious metal from London
movement,
a
undoubtedly result in
a
change, have
been
quite ;active* in
having been indulging in what
as
however, would
6% rate by the Bank of
The speculative interests in sterling ex¬
England.
Scalping operations.
are
small way,
a
technically known
*
The Continental
firm situation in
vance
in the
exchanges continued to reflect the
London until the unexpected ad¬
private discount rate in Paris yesterday.
checks
Sterling
in
Paris closed
25.28J^ francs last week.
Thursday,
on
as
this week has been
3@5%
last /weOk.
In Berlin demand sterling
20.463^ marks, which
compares
with 20.46
week ago and 20.45marks the
one
preceding
Berlin exchange in Paris closed at 123.523^
week.
franco oh
Thursday, but declined to 123.47 H francs
yesterday, against 123.55 francs
a
Week
ago.
Compared with Friday of last Week, sterling ex¬
HoWever, the firm markets abroad ahd the Strain
range
subjected
Oc¬ repotted by cable, at 25.29, but the close yester¬
$32,000,000. day was at 25.27francs, which compares with
materialized
thing like the scale anticipated.
The
have to be made.
appearance
mand for money at home,
marks
is in View.
awaiting the
ating influence.
tariff does not appear to have
home
now
cross-currents.'and is wavering within
many
small range,
closed at
at
represents consignments
sections/ during
improvement in trade conditions that many
circles
inconsiderable
Thus it is evident that the market is being
expected to follow the final enactment of the new
a
remittances will
which
for
tariff rates and
new
to believe that a not
reason
amount of this merchandise
company's Southern Pacific
stock making available this
of foreign goods
particularly large withdrawal
made this
the
in rates.
are'not yet
reaching the large volume that many sterling ex¬
Interborough
on
ease
,
of foreign merchandise
Importations
the
The Wale
Transit bonds
Rapid
factor in the week's
a
was
of
exportations
would be interfered with.
Interborough
$5,000,000
abroad
that
fears
relieved
have
ted
a
demand
bills
supply, especially grain and cot¬
'
Rapid Transit bond issue has been
week and has been one source of specific
Names
quoted at 6^@6%%.
well known are still
so
Sterling exchange has shown an easier tendency
bank statement seemed to have
.
at 6J^@
quoted
are
Most of the business is at 5^%.
6%%.
registered by last Saturday's
produced a good im-
as
Others
choice character.'
of
In local money
-
change
cable
and
Saturday Was Weaker for demand ahd
Which declined to 4 8555@4 8565
4 8605@4 8615,
mained
a
on
transfers,
respectively;
sixty
unchanged at 4 8160@4 8175.
holiday.
days re¬
Monday Was
On Tuesday rates receded still further
o
1076
heavy offerings of commercial bills;
on
for the day was 4 8550@4 8560 for
*
4 8605
for
cable
sixty days.
Wednesday,
on
and
transfers
The market
the
range
demand, 4 8595@
for
4 8150@4 8160
dull but steady
was very
demand 5 points higher at
with
4
4
>
8555@4 8565;
8595@4 8605 and sixty days at 4 8150@4 8160;
cable transfers
the firmness in English discounts
little business transacted;
proved the prin¬
limits with
narrow
the final
range
very
un¬
was
changed at 4 8555@4 8565 for demand, 4 8595@
for cable transfers and 4 8150@4 8160 for
4 8605
On Friday the market ruled irregular
sixty days.
and
on
weak, finishing at
increased
4
were
loss of about 10@15 points
a
Closing quotations
offerings of bills.
8135@4 8150 for sixty days, 4 8540@4 8550
for demand and 4 8585@4 8595
Commercial
closed
banks
on
documents for payment
and
,
•
for cable transfers;
4
at
78%@4 80%,
finished at 4 80%@4 81%
Cotton for
seven-day grain bills at 4 84%.
payment closed at 4 80%@4 81, grain for payment
4
I
headed
examination of
take
.
York
New
Clearing-House banks, in their
not do
in
result of the
as a
cur¬
movements for the week ending Oct. 17. Their
rency
stand;
indeed,
without
so
regard to the
he bribed witnesses to withhold their
the
investigating
witnesses.
thirds
In
000,
as
follows:
:
.
of
tained
the
by
spondent
a
impeachment court,
vote of 39 to 18.
Banks' interior movement
Into
Out of
Net Change in
Banks.
Banks.
Bank Holdings.
$11,228,000
19,770,000
Bub-Treasury operations.
Total
$7,550,000 Gain
22;163.000 Loss
$3,678,000
2,393,000
$30,998,000
*
$29,7.13,000 Gain
sustained by
was
also the vote of
Two
vote
up at
the
once
principal European banks.
Oct. 16 1913.
•
••
■
Gold.
Total.
Silver.
England..
35,987,528
138,548,480
59,795,950
Russia
164,298,000
Aus.-Hun. 50,869,000
Spain
18,754,000
Italy
45,771,000
Silver.
£
£
£
£
35,987,528 37,565,796
163,888,480 129,230,800
72,895,950 43,271,650
6,305,000 170,603,000 155.943,000
10,603,000 61,472,000 51,923,000
29,382,000 48,136,000 17,227,000
3,075,000 48,846,000 42,512,000
France
25,340*666
Germany.
13,100,000
Neth'lands
Nat Belg.
Sweden
Swltz'land
Norway..
12,361,000
8,298,667
5,701,000
6,810,000
2,500,000
Total week 649,694,625
Prev .week 547,489,554
vote of 43 to 14, which
the question of
on
588,600 12,949,600
4,149,333 T2,448,000
5,701,000
6,810,000
2,500,000
12,576,000
7,762,000
5,413,000
6,981,000
Total.
£
37,565,796
30,143",520
159,374,320
15,101,600 58,373,250
6,758,000 162,701,000
11,123,000 63,046,000
29,550,000 46,777,000
3,533,000 46,045,000
520,500 13,096,500
in
of
the
of
the
regard to this important
for general discussion.
most
the
On these two facts, Sulzer's
some
argument against the
We cannot share that view..
general vote is that
court, of
celebrated
with 54 members of the
impeachment court, 36 votes were necessary to sus¬
tain the articles.
only
The actual affirmative vote
less than
one
was
2,142,000
11,643,000
5,413,000
6,981,000
2,142,000
impeachment articles
none
the less passed into
Judges Bartlett, Chase and Werner for acquittal
on
the two first
even
were
tion
the
articles, it is first to be remarked that
judicial members of the impeachment court
divided, and that five justices voted for convic¬
against the contrary vote of four.
as
based the peti¬
tion for Governor Sulzer's removal from
of impeachment,
office, the
consisting of the 48
members of the State Senate and the 9
Judges of the
State Court of
Appeals, reached their formal decision
last
on
the merits of the
case,
and yester¬
day voted for the removal of Sulzer from the
govern¬
orship, without, however, adding the penalty of fu¬
ture debarment from
tained
the
impeachment
been in progress since
had
been
public office.
begun
on
articles.
The Court
judges who voted for acquittal
was
plained by them
Sulzer's innocence
of the
were
charges
as
based, not
nor on
not of the
on
"formally
The
trial
ex¬
belief that the offences charged
gravest character, but solely
on
tech¬
argument as* to whether impeachment should
inauguration into
office.
a
"The
one
of
public of¬
question,"
power,
but of
More than this, he asserted that "the acts
charged against this respondent display such turpi¬
tude
delin4uency
and
took office
moval."
that if committed after he
they would be sufficient ground for
re¬
Judge Werner added that "we know he has
committed acts
so
morally indefensible that they
can
hardly be described in the language of judicial calm."
Both, therefore, voted for acquittal merely
of the
rightful
sus¬
ment.
had
reached
Sept. 18; taking of testimony
Eminent counsel,
the 24th.
Further¬
it must be observed that the action of the four
more,
Judge Cullen declared, "is not
were
35,
history.
' ' ^
As regards the vote of Presiding Judge Cullen and
right."
prolonged, careful and sober consideration
which
was
needed; but the rejection of
THE CONVICTION OF GOVERNOR SULZER.
Thursday
The-
full two-
impeachment voted guilty.
After
court
a
impeachment trial of President
Andrew Johnson in 1868,
ficer's
high
in
highly regarded judges voted
be invoked for acts committed before
on
One
was
"
3,881,000
92,542,933 642,237,558 512,547,246 100,610,620 613,157,866
93,509,607 640,999,161 511,521,072 100,840,243 612,361,315
charges
re¬
barely obtained; the other, that
essential fact in the
nical
of the formal
re¬
On the fourth
of
Oct. 17 1912.
Banks of
1
sus¬
On the third, the
$1,2851000
following table indicates the amount of bullion
Gold.
necessary.
requisite two-thirds majority
Court's decision.
the
in the
a
Friday
considerations
came
that
was
or
The
an
moval.
In
Week ending'Oct. 17.
was
unanimously acquitted.
was
charge
thirds
,
of these articles,
Thursday's voting, the first two charges were
apologists have based
gain of $1,285,-
that he
of threatening
means
To sustain any one
$2,393,000, the combined result of the
a
third, that
testimony from
affirmative vote of 38 of "the 57 members, or two-
against all the articles.
been
false state¬
a
committee; the fourth,
suppressed such evidence by
several
for the week appears to have
sustained. The
ond, that he committed perjury in swearing to that
occa¬
of the New York bariks
were
statement while knowing it to be false; the
Adding the Sub-Treasury operations, which
flow of money into and out
the stand his guilt
regarding his campaign fund receipts; the sec¬
000, while the shipments have reached $7,550,000.
loss of
on
impeachment
the two main votes
a
it had become manifest
concluded that he could
charged that Mr. Sulzer had filed
ment
argu¬
serious charges.
receipts from the interior have aggregated $11,228,-
sioned
closing
was
admitting
more
Four articles of
first
operations with interior banking institutions, have
gained $3,678,000 net in cash
the
and in the
cross-
The Governor himself did not
long before the evidence
was
The
witnesses
ment to the Court.
the
81%@4 81%.
Cady
by Mr. Louis Marshall and Mr. D
Herrick, had defended the Governor, both in
On Thursday ster¬
cipal factor in sustaining rates.
ling quotations moved within
still quoted at
were
[Vol. xcvii.
CHRONICLE
THE
As
summed up
on
grounds
of the authority for impeach¬
have seen, the
majority of the judges
conclusion; their position was
in Judge Miller's terse statement, when
we
a
scope
different
explaining his
own
vote, that Sulzer,
as
the testimony
om. 18
The court
v
stacles,
was
which much discussion was bestowed
temporarily threatened interruption of
on
which
and
Three of the
regular course of the deliberations.
the
against Governor Sulzer had testified
later witnesses
to the
as
"is totally unfit to
office of Governor of this State."
confronted first with technical ob¬
hold the great
Governor to induce them to
efforts of the
testimony,
favor him in their
or
to obtain for him
help of political leaders, with a view to influencing
the
legislators who would have a part in the verdict.
Morgenthau's evidence that Sulzer had asked
Mr.
testify that his $1,000 was a purely personal
him to
matter and not a
1077
CHRONICLE
m
Court had proved,
the
before
THE
1913.]
campaign contribution; Mr. Peck's
committed
or
of
them.
For
v.'/
::.v
ourselves,
Governor with suppressing evidence
Frawley Committee and "practicing de¬
before the
•
ceit and fraud and
using threats and menaces with
the intent to prevent
the people of the State from
procuring the attendance and testimony of certain
In the end, however, the Impeachment
witnesses."
Court decided in secret session that this
testimony
undisputed testimony regarding Governor Sul¬
dealings with the funds contributed by
zer's
as
Governor of New York
This feeling was not
a
was
simply unthinkable.
merely based on the fact that
regarding these cam¬
false affidavit had been made
The disclosures regarding the use of
paign funds.
funds, in violatiori of ordinary good
such
private Stock Exchange speculation, and
of
culprit to
escape
the consequences
help him by false testimony or by pleading
powers
tion in the
views
public mind
on
and fitness for the office.
the plain basis of character
Public confidence in any
subsequent official act or policy of Mr. Sulzer
ri
view based
takes
One is
of this important impeachment trial.
scope
largely
change
unavoidable if the usefulness of the office
was
It
have
eve
preserved.
Gov¬
of the impeachment
seems
to us that the pro¬
dignity of the State were to be
and the
might have been otherwise preserved by the
ernor's
resignation
trial.
the
on
Lacking that, it
followed them
inevitable.
of this ex¬
and psychological aspects
moral
The
not
a
profitable field for conjecture and dis¬
very
From
cussion.
merely
one
which have been
The technical considerations
broader scope.
a
A
necessarily
legal technicalities; the other
on
would
impossible.
been
thereafter
traordinary episode opened up a wide but perhaps
to the case.
possible regarding the basis and
are
with
for their influence, settled the ques¬
peachment and, further, that the charges based on
actions prior to Mr. Sulzer's actual inauguration to
Two
faith, for
regarding
through appealing to contributors to
action
his
were
were germane
sub¬
campaign, that his longer continuance
scribers to his
might be legitimately covered by the Articles of Im¬
Governorship
of
the
ceedings and the verdict which has
the
result
a
,y;
suspect that the serious part
we
political
expressly covered by the Article of impeachment
as
^
,
general public made up its mind at once, after
(Mr. Ryan) act as middleman in procuring legis¬
lative help from Mr. Barnes or Mr. Murphy, were
charging the
conduct
the
the efforts of the
not
.>
indirectly, bound
or
future
his
in
that he
should deny his own contribution, and Mr. Ryan's
statement regarding Sulzer's solicitations that he
testimony regarding the Governor's request
directly
been,
have
easily
survivial of the callous indifference to
a
as
the practices
of view,
point
proved in Court may be set down
public moral rules and principles which was once ascribed
If this be so,
officer was properly impeachable for acts committed traditionally to our old-time politics.
before his inauguration—a question whose answer in we imagine that the present impeachment episode
the negative would have excluded the vital evidence will stand as a warning of the utmost importance to
other public men of easy conscience.
It will also,
regarding Mr. Sulzer's. use of his campaign funds for
we have no doubt > lead to a far more drastic exami¬
speculative purposes, in the month before his elec¬
tion to the Governprship, and his filing of a false nation by future nominating conventions of the
affidavit.
As to the constitutionality of the incor¬ character rather than merely the political availa¬
involve the
now
familiar question
whether
a
poration of such charges in the articles, there was
bility of candidates whom they select.
either side; the language of the
constitution itself is such as to admit of either con¬
discussion
something to
But the broader view of the
clusion.
whole,
say on
a
episode
as a
view in which the general public has un¬
doubtedly concurred*
question of basing
an
seems
to us to be that
impeachment
on
the
acts committed
the
But
episode has another bearing on current
which
is
well
whereby public officers who have become objection¬
able
constituents may be recalled
their
to
moved from office through a
tions, first, whether the alleged offenses were im¬
and
of the
such
to
destroy the usefulness of the accused public
they bore directly
official
future
on
career.
service, and, finally, whether
the nature arid conduct of his
These tests would exclude,
practically all conceivable
cases,
previous personal habits
upon
installation
candidate; second, whether their character was
as
officer for future public
in
or
mitted
in
the
longer past.
or
accusations based
on
actions com¬
In the present
case,
committed
distinctly affected the Governor's campaign for
office and his prestige and position while in office.
They were directly related to his election by the
people. Not only did they throw convincing light
of
on
all
the
acts
alleged
to
have been
the capacity of the new Governor
future
they
for the proper
fulfillment of the duties of that office, but
gave
ground for the question whether a candi¬
date who had
indulged in such practices might riot
endless series of
regarding the necessity for machinery
arguments
prior to official tenure depends on the further ques¬
mediately involved with the election
We
emphasizing.
worth
have heard in the last few years an
a
special vote of
In these
that
a
and
re¬
few electors
majority of the electorate
propositions, it has uniformly been assumed
allegation is
and that the
a
sufficient basis for the charges,,
opportunity offered to the accused public
deny the accusations, if he choose, is suf¬
officer to
ficient
a
petition of
The present epi¬
protection for his interests.
sode is fairly
convincing proof that for really grave
unfitness, involving actions
or
render the incumbent of the
useless in the
recall may
future, all
practices which would
important public office
proper
ends desired in the
be obtained through the sober and digni¬
fied process
of constitutional trial, conducted with
all his proper
rights reserved to the accused official,
and with all
the forms of
If
one
legal precedent.
imagines the Sulzer
case
introduced by a petition for his
office,
angry
to
have
been' further
as
having been
recall from public
carried
on
in an
popular campaign, and to have been settled
in
excited
an
cult to
'popular election, it Will not be
judge "which is the right
way
diffi-1 dealing with basic principles is the primary necessity.
so
and which the
deal with objectionable public officers.
wrong way to
If it be Said that
the constitutional provisions for
impeachment would prevent the removal of a public
Officer merely because the electorate had changed its
mind,
because it had reached
or
ment at official acts not
peachment—then
we
fects of the recall
the
should say that the
expedient of impeachment
demonstrated
are
of
most conclusively
.
It is
Publicity
.
.
therefore, is
in
its
unpleasant, certainly, and it
the dream of
be reached
by the
out¬
trial.
beginning,
local matter."
a
agrees
illy With
widening area about great cities to
swiftly and comfortably, at the assumed
a
permanent low-fare unit; but if that be financially
unrealizable?
This problem, like others which de¬
mand
solution
comes
by that argument, and
of the present
come
de¬
grave
time-honored merits
Education of the
erroneous.
mass, as a mass, is impracticable.
We must work
with the smaller units, the individuals and the com¬
munities.
-
mood of resent¬
a
legitimately subject to im¬
and the
I deem that idea to be
back, after all has been said, to
exposition
only
and
and
involved
seem
in
difficulties,
fair public
a
gradual rational thinking
a
way out.
the
as
-
XETTER FA RES ON ELECTRIC RAILWAYS.
Perhaps there is nothing which,
•
close to
or
even
large cities, Seems
to dwellers within
the reach of discussion than that
local fare is
The part
represented by
an
no
more.
this. proposition took in the long contro¬
versy over new
subways cannot be forgotten yet, but
the immovable fact that
only the shortest rides
can
keep down the unfavorable effect of the long ones
has never gotten a firm hold on the
public mind,
has it been
nor
rides tend to
oyer
and
the
a
sufficiently noted that the longest
become longer and longer.
The wrangle
few
a
departments
Another
considerable
portions
of
the
day)
availed
/dy/.v:;,; ! Ad'dvf dddCdd
the. President of the American Electrical
now
the
in
now
All
become imperative in the
transportation was never
low
that
rate, he says.
a
immovable
so
near
good
increased fare
future.
as now, or
Public
furnished
But there is the pitiless,
arithmetic, and there is the ancient fact
continually doing business below cost
bankruptcy.
The
case
is substantially the
means
same
that of the steam rOads.
Every element of
construction and
as
use
cost of
are
and
it
is
ultimately must,
sumption of
pur
It may
a
and steam
V.
■
be
pay a
can
and
should, and
reasonable price for its
con¬
proper
public du,ty to furnish both, electric
transportation at pleasing rates, together
Pennsylvania for reporting
may
tabulated and summarized, and
of
the
safety efficiency;
public
demonstrations,
treatment in
.*
•
lately
spoke
American
the
to
Electrical Engineers on
Institute
serving the public at
a
be made to admit that
pecuniary sacrifice is in
any
degree his duty.
justly pronounced.one of the most danger¬
pieces of„ mechanism used in industries.
The
President of the Institute expressed his own surprise
ous
finding that
machines in Germany
are mostly
and replacing the old line
driven, directly by motor;
shafting from which belts
run
(sometimes .for
Notwithstanding, this head
annual
recent
a
the
largest
life
and
of the Electric Rail¬
Association states his unpopular proposition,
and looks to publicity as the agent for
ultimately
Convincing the people of its necessity.
Of this he
to
convention
spoke
of
Manufacturers,
factory mutual
Massachusetts
at
:
a
to each machine, and
.
Association of Cotton
of
directly,
danger.
At
con¬
distances)to the various machines by
'.
the
National
an
officer of
insurance
length
on
one cause
•
company
of
conservation
by precautionary measures.
along this line have been delivered
property
Other addresses
way
of
"the passing of the belt,"
of
can
an
Ati engineer of the General Electric Co. of Schenec¬
virtually ,a part of it,will obviously eliminate
capital savings, who
as
of accidental prostrations
case
have
of any
on
road, of the
same
Small motor attached
public apparently acquiesces indifferently.
This may
a
public duty—but it is even more surely not
a
private one.
There is not a person living, possessor
a reas¬
committees
cluding in the general beneficence' periodical increase
of wage for all employees; the
latter, apparently,
all be
dis¬
the records of the
up
siderable
doubt whatever about it, and the
general
are
position with reference to
with better and safer service in all
respects and'in¬
no
upon
teach.
The General Manager has
men.
some
by electricity.
at
product."
life and property."
same
object-lesson to employees of the
which he
the public cannot do
a
regularly inspect shops and equipment,
only a few vreeks since an account was
published
Visible
,
of
many
each division
tady
willingness anywhere)
observance
improving the lessons they
and mark their
upward, while (he
Says) the average fare has steadily decreased.
Unless
by reducing taxes (something for which there is no
hikything to lower costs, "but it
the
on
onable standard of
moves
operation
for
conserve
discipline committee to look
a
an
companies
journal and under
heading told something of the regular plan
tributed among
man
that
of the city
reports, both of train accidents and of individual
Railway Association, in convention at Atlantic City
say
railway
Oct. 26, and that
on
paragraph in the
same
this week, ventures
to
one
clergymen have promised to speak appropriately on
subject; the occasion (the item added) "will
probably prove memorable in the advancement of a
injuries,
so
arranged
general movement to
travel
brief item,
very
that
arithmetic.
at
have
is an instance of this,
one-way
that
ago,
"safety first" Sunday
nothing against the fixed notion that the single fare
tras a public need and must be
granted, despite the
may
days
of the problem (as that
a
a
general heading in
thgoughout the country which have "safety first"
wrecks and
Yet
a
sea
keenly-demanded boon involved
during
dailies
noticed
persons
appearing under
unfavorable aspects
single fare to the
some
Probably few
electric short
nickel and
a
PROMOTING SAFETY OF OPERA TION.
settled beyond
more
organizations of employers in the country in this
ahd the movement towards ah automatic
year,
"compensation" for injured Worker's without refer¬
ence
to
personal negligence Will have
a
strong and
permanent influence to bring about better* construc¬
r'ThVre has been ahd still exists fill idea that napublicity is fundamental and that a campaign
iiinal
tion
and
more
precautions-, whatever bffect it ihay
have to dull the
sense
Of individual
responsibility.
OCT. 18
denying that
There is no
are a
leaving the insignificant gain of $361,474 in net.
This outcome is the more significant inasmuch as it
heed-,
is
loosely called "taking chances" and acting
to what is
laws of nature will* not impose
the theory that the
on
Americans
we
people, in temperament and habits ^ much given
less
the penalty
time and
So
now.
repetition of
a
gnin of $3,245,266 in gross* of which $2,769,446 was
for violation at the particular time where
eaten up
at some
place, undoubtedly,; but not just here and
we destroy hundreds of millions annually
of
to
So we put safety last instead
succession of mishaps such as the last
a
of
horror
April last
survivors have
only just reached port,
for the
all
above
resisted
promptly
are
notions
the
to
counter
labor.-
tomatic of
making for
They
rational
publicity, in
are a
period of
brought to
and saving.
Fortunately fixed
-
By
of that fact the income
notwithstanding the small
growth in net, makes on the whole a very
strong showing.
are
The
•
the
company
is
urging the community-of-interest in all large matters
dividends
and
.out
outstanding, calling for $3,000,000
not
the
inviting the public
to
be
beginning,
reason
The change
rapid, but its slowness,
of
and
come
problems of transportation.
well
as
as
may
its strength.
proves
late
After
THE SOUTHERN RAILWAY'S PROGRESS.
Railway Co.,
ern
is the
and gross revenue
traffic
makes such
twelve
growth all the
covered
months
gain in
earnings
gross
previous gains
of
credit of
was,
Each
on
gross
As
was
revenues
Counting the
a
preferred stock, there still remained
wedded to
on
ex¬
result the aggregate
raised to $68,529,490.
charged off from profit and loss to represent
the discount
off
its books
on
we
there has been
of
no
further than 1909, we.find
so
that in four
years
improvement in the gross revenues
$16,000,000, or in excess of 30%.
\
over
The
back
go
only $53,456,532,
an
.
efforts
the
of
directed towards
the whole remainder
territory
agricultural and manufacturing
These efforts, too,
as
are
being crowned with
is evident from the figures
just cited regarding the expansion in
gross revenues.
the net earnings are concerned, however,
not
satisfactory.
Here the road
is under the influence of conditions
entirely beyond
the
control
are
of
the
so
executive
officials.
In. this
re¬
spect the experience of the Southern Ry. is like that
of other
—a
large railroad systems all
over
the country
greatly increased amount of traffic yields little
or no
additional net.
gain in
gross
$4,577,687
..For
example, of the $4,939,161
earnings in the late
was
on
From
"of this
magnitude
the
idea is obtained of the extent to which past
financial betterment of the property.'
well-merited success,
as
another
Nevertheless there remained
earnings have been applied for the
lation and to foster
As far
($1,656,636)
or
previous years': operations of no less
$17,374,558.
an
time
management are unceasingly
tributary to the lines of the system—to add to popu¬
the results
the late and
total
one
extending and developing the traffic
of the system and towards building up the
growth.
June 30
on
than
and that in
went a step further and charged
credit balance to profit and loss account
on
a
sum
bonds sold in the past
on
the sale of securities.
of
It
of $3,000,000
was
1911-12 the company
$70,000,000, the precise amount being $69,676,If
they
year
be recalled that in 1910-11 the
to
total
the
securities sold and also charged off $314,010
of the discount sustained at
720.
conservative
very
and during
methods,
aggregate of the gross revenues was really very close
•a
$7,078,625.
may
from outside operations, the
revenue
of
representing miscellaneous accounts written off.
top of the long series of
roughly, $5,000,000—or, in
the operations.
on
amount
charged to profit and loss $98,333 for discount suf¬
In the fered
noteworthy.
in
profit and loss.
bookkeeping
by the present report the
figures, $4,939,161.
the
more
In other
Of this, $48,660 wras applied in additions
The management are
adds still further to the previous growth and
year
act
of the system.
months
on
and betterments and the rest carried forward to the
namely the wonderful—
the phenomenal—expansion
say
the
on
$4,078,625.
disclosed in; the annual report,
as
in the past,
as
might almost
one
in
same
available income
was
and
per year,
balance of net income
deducting the $3,000,000 required for the divi¬
dends
The distinctive feature in the affairs of the South¬
preferred
than double this amount.
more
twelve
the
a
paying 5%
stock
now
of
$60,000,000
earnings
year's
words, there
\
of
<
on
remained of
its tardiness
has been
company
is strongly buttressed
reason
statement for the late year,
further
the
progress
state where it
a
to net income.
as
are symp¬
of which railways
course
operating achievements all
new
economy
antecedent
of organized
part of the steady increase in
public.
gross
charges have not increased and through the long
they
gradual change in the attitude of the
a
gain of $8,184,428 in
than $569,874.
no more
This is in face of
:-fc
Nevertheless, the incidents here noted
\
net of
yet
when
In other words, allowing for, the
$2,480,387.
earnings in the two years has yielded an addition to
of putting safety
express purpose
else
be
to
seem
slightly reduced speed;
only from $19,418,272 to $20,255,566.
increase in the taxes, a
the rail, together with some revisions of
on
train schedules towards
changes
to
but
a
for steel cars, as
safety
arouses us
sudden and passionate demand
if that alone were an assurance of
There is
slowly.
operations) have risen from $60,345,062
Simultaneously taxes have increased from $2,212,967
another whose
now
we
$68,529,490, but that the net in the same two years
has increased
including the "Titanic"
and
year,
expenses,
now,
find that gross
we
by preventable fires.
first, and
leaving only $475,820
combine.the two years
earnings (not counting the revenue
by increased
gain in net. " If,
from outside
twelve-month has brought,
precisely similar experience in the
a
In this previous year there was, a
yreyious year.
particular number of us are exposed;
any
1079
CH RONICLE
THE
1913.1
year, no
less than
consumed,by augmentcd^expenses,
With reference to the rising cost
are
remarks in the report
some
deal of
light
of
$4,577,687 increase in
the
on
with the year
half,
in
the situation.
physical and
of operation, there
that throw
a
great
It is pointed out that
expenses, as
preceding, 57.14%,
or more
compared
than
one-
in maintenance of the property, 33.28%
was
transportation, 7.62% in the development of traf¬
fic
and
1.96%
statement is
in
administration
The
expenses.
made, furthermore, that approximately
37.68% of the increase in the cost of transportation
was
due to
latter
higher
statement
wages.
should
The significance of this
not
be
overlooked, for it
indicates the part played by higher wage
in
augmenting the
should be
merely
expenses
schedules
of the railroads.
It
remembered, too, that this is the result
of.,
a
two-year
comparison.
Rising
wage
1080
THE
schedules have been
successive
a
are
available
figures
no
showing how much has been added to the
in
accounts
about
cumulative feature for several
There
years.
CHRONICLE
this way over
20%; in mineral products, 3,528,532 tons, or
nearly 43%; in products of the forest, 1,921,428 tons,
62%, and in manufactures and miscellaneous
or over
expense
3,710,757 tons,
This
term of years.
a
[Vol. xcvii.
in
or
In the entire
of 72%.
excess
much, however, is certain: that transportation cost
freight traffic the increase for the ten
has been
10,252,105 tons,
steadily rising, notwithstanding steady ad¬
in operating
vance
$2,769,446, only $1,024,220
was
maintenance, while $1,419,567
of
this
latter
In
1910-11
wages.
$624,556
In the twelve
due to increased
was
is
is
obtained
to show the steady advance
Com¬
,
increase of
carried and
increase of
tons carried one
service
in
was
miles
the
has
that the
average
high
is
the
What
extent.
good
high
On
1909—the largest previous
.
In another part
to the
of the report there is
known, is not
large
as
the
as
it is necessary to
extend
period of time.
To the casual reader it
.
back
may
against 229
were
not
1913
when
5,658,038,364 tons of freight
was
we say
mile
one
3,973,282,283
as
1905 the miles
run
ton
miles in
by the freight trains were.17,320,-
863, and in 1913, with 1,685,000,000 ton-miles
the miles
larger,
by the freight trains
run
or
17,638,101.
'
Perhaps
all to indicate what real economy
through
this
relative
saving
mileage is to
say
trains earned
only $1 83
earned $2 55
trains.
■
as
a
In
1905.
in
only
was
the best
mile
little
way
of
gross
very
revenues
wonderful
This last,
striking
as
of
com¬
traffic
already indicated, has
proportions.
The
gain
in
made, but the traffic statistics
even more
conclusive in that
little tabular statement in the report
last ten years
has been
the
President W. W. Finley has introduced
respect.
a
covering the
which shows that the growth established
general and embraces all the different classes
of traffic.
over
42%; in animal products 53,689 tons,
or
any
other
a
by the
company
.
other advantages
some
besides the greatly increased
result of the good
yield of
crop
be added, too, that general
was large and active,
action of which was felt all over the West,
over
the reflex
may
the United States
though the western half of the country, unlike, the
eastern
half, has
From the
industry
no
large manufacturing industries.
exceptional activity of the iron and steel
even
the Great Northern must have de¬
important benefits
ore
shape of largely
eastern end of
in the
and yet the haul
the
on
the
ore
shipments
long, such traffic moving mainly from the
beds in Minnesota to the head of the Great Lakes.
prepared for the state¬
ment
that, compared with the previous year, the ton- ;
nage
of revenue freight'increased 6,083,466 tons, or,
22%, and the tonnage movement one mile 1,406,342,222 tons, or
22.58%.
The rate
per
ton
per
mile is
gradually decreasing and there was a further slight
contraction in the average
that fact the
over
22%.
freight
At the
in 1913, but in spite of
revenue
same
also increased somewhat
time the effect of the build¬
ing of the Puget Sound line of the Milwaukee &
St. Paul
pears
on
the
the
effect
Northern in the
ger
passenger
to be wearing off.
whether
In the products of agriculture the gain' may not now,
during the ten-year period has been 1;037,699 tons,
or
year
As
active, and it
was
trade all
the sytem,
efficiency,
extension
in
coming under
1912, trade in the territory adjacent to the system
is not very
alluded to above is noteworthy evi¬
record that is
a
during the late
grain traffic.
freight
result of' the better lading of the
dence of the progress
furnish
prosper.
In these circumstances one is
the
of the system.
reached
.
in 1913 they
run,
ascribed to this growth in operating
with
territory served
to
increased iron-ore shipments " at
The present prosperity of the company must be
bined
the
the
/' »"
"
in
continue
rived
freight-train
crop
that advices
us
new acreage
has been effected
that, whereas in 1905 the
per
more,
a
due to the
The Great Northern' had
seem
moved with practically the same freight-train
mileage
should
longer
torjs in 1905, but the sig¬
nificance of the statement will appear
that in
over a
much that the total train-load in 1913
321 tons, as
business
however,
way,
year,
but the report tells
cultivation, and hence the opinion is expressed that
To show what
from 309 tons to 321 tons.
really has been accomplished in this
mean
previous
use) the in¬
reference'
This, it is
exceptional
very
indicate that the grain crop is better than
while in the total load (that is, including
a
present year's spring-wheat crop.
259 tons,
own
marketed
compared with
as
of last season,
to
evi¬
crop.
freight the increase in
from 250 tons to
freight carried for the company's
is
were
the.company's lines,
on
112,800,000 bushels in
notwithstanding
year,
our survey
corre¬
generally
at stations
the train-load in the latest year was
crease was
of
was
crops
mately 150,000,000 bushels of grain
freight traffic also militates against
revenue
the lines draining those States
that approxi¬
character of the
averages.
year
mean
and notwithstanding the
drawback referred to
yield in these States last
dent from the statement in the report
average
by
year
The wheat
unprecedented extent and the grain traffic
along the lines of the Great Northern
no very
up
har-
splendid spring-wheat crop
along the eastern portion of the sys¬
This, of
.
train-load is possible, but the
average
circum¬
the
Perhaps
report.
freight-train load
scattered that
being brought
the
was
sponding
The roads embraced in the
again been raised.
Southern Ry, system are so
of
over
,
,
increase of only 5.53%
by the freight trains.
run
means
course,
an
annual
vested in 1912
was
8.81% in the number of
mile, and that this additional freight
rendered with
favor¬
paramount influence in the good results
Dakota.
8.21% in the number of tons of freight
an
ending June 30 1913 the
tem, that is, in Minnesota and North and South
paring 1913 with 1912, it is found that there has been
an
of
stance
examination of the statistics
being made in operating efficiency.
YEAR.
GOOD
able traffic conditions and that fact is reflected in the
company's
necessary
months
Great Northern Railway Co. encountered very
the increase in transportation
a very cursory
in the report
that
story.
GREAT NORTHERN RAILWAY'S
in transportation,
to advances in wages.
Only
own
under the head of
was
$1,727,659, of which $967,644 was due
expenses was
these figures since they so eloquently
upon
tell their
twelve months preceding was
compared with the
and
enlarge
In the previous fiscal
efficiency.
for example, while the addition to expenses as
year,
has been
It is unnecessary to
53.4%.
or
years
traffic of the system
Indeed, it is
of this Puget
a
question,
Sound extension
after the diversion from the Great
preceding two
traffic to the
new
years
of
;
ap¬
some passen¬
competitor, be proving bene&
THE
1913.]
OCT. 18
remaining, $4,250,000 was contributed to the fund
generally stimulating travel, especially in
ficial in
for
At all events, the
traffic of the Great Northern in the year
periods of bounteous harvests.
passenger
under review
earnings was almost 19%,
roughly, 12% million dollars, or in
exact figures $12,494,948.
Operating expenses, how¬
ever, increased in still larger ratio, or 21.76%, and
thus, out of $12,494,948 improvement in the gross
revenues
(including small amounts from outside
operations), $8,196,707 was consumed, leaving a gain
of only $4,298,241 in the net operating revenue.
As
it also happened, however, there was another very
large addition to the taxes, the increase amount¬
ing to no less than $790,538, or 22.66%.
Accord¬
ingly, after allowing for a small gain on the outside
operations the net earnings show an increase of only
$3,513,366, or not quite 14%.
enough under ordinary
circumstances, but when we observe
that remains out of an increase
that it is all
of 12% million dollars
get a new idea of the part
played by the rising cost of operations in the affairs
of this road in common with all others.
was
charged
up
capital stock.
scriptions for $21,000,000 additional
laid aside for "re¬
will be obliged to make in
Furthermore, $750,000 has been
it amounting to,
This would be satisfactory
$209,320
payments made on the sub¬
for interest accrued on
10%.
in the gross revenues, we
addition
In
docks.
ore
gain in total-gross
The
steamship property and $128,166 for renewal of
of
from the same having increased
$1,764,639, or over
"
permanent improvements and betterments and
was an allowance of $250,000 for depreciation
there
again registered substantial improve¬
ment, the revenue
1081
CHRONICLE
funds" which the company
that went
connection with the Minnesota rate cases
After all these allowances and
$4,282,168 still remains,
transferred to profit and loss account.
against the road.
deductions
which
surplus of
a
was
of
It is needless to say
.
a
property which has such a;
long record of dividend payments and of prosperity
and successful management that large amounts are
being set aside out of earnings for the
all the time
specific
of betterments and improvements,
are being carried forward
purpose
other
and still
amounts
credit balances to
as
overlook the aggregate
of
reminded
a
extent of such amounts unless
Chairman Louis W. Hill
fact.
the
furnishes such
,
One is apt to.
profit and loss.
reminder when he points out that,
according to the balance sheet, "there has been in¬
company's property over $76,000,000
vested in the
might have been distributed to the stockhold¬
which
labor .are constantly in¬ ers, of which the public receives the benefit without
creasing and during the year under review there was making any compensation and on which the company
It might have been
also a special drawback arising out of the unusually therefore receives no return."
added that except-for the company's very light cap¬
severe weather experienced last winter in both the
Rocky and the Cascade mountains.
The taxes, as italization, such results. would have been out of the
question.
The bonded debt of the company aver¬
we have already seen, in a single year jumped from
ages
only $19,245 per mile of road and the
$3,488,238 to $4,278,776. The report tells us that on
stock
$28,132,
making
only $47,377 per mile
Jan. 1/1913 the gross earnings tax in the State of
■,'■//.///;"-/////.'\//;:. ',-/'//
• V.-/;':.
Minnesota was raised from 4% to 5%.... It is further¬ together.
.Wages of all classes of
~
more
noted that while operating expenses
to be
creased 21.76%, over
expenditures for maintaining prop¬
occurred in the
The Great Northern many years ago
erty.
achieved
train-load and new
being made in, this respect from year
distinction for its high average
records are,still
addition of over 77 tons to the
train-load in the previous year there was a further
addition of 33*tons in 1913, bringing the average
to
After
year.
The
in¬
one-half the increase in amount
an
company's
large from
one,
year
new
capital requirements are very
to year, as the system is a
progressive
and it has been the policy to provide the money
in the main
by
new
funded debt in
and the
created
a
issues of stock, though additions to
moderate way are also being
made
enjoys the distinction of having
and refunding mortgage for an au¬
company
first
a
thorized amount of $6.00,000,000,
though $35,000,000
under this mortgage thus
is all that has been sold
far, and a considerable part is reserved to take upin 1910 existing mortgages at maturity. During the year
covered by the report $11,246,000 of the first and
only 518 tons and in 1909 no more than 502 tons.
This, too, is the average for merely the revenue ton¬ refunding 4J^s were issued, but remain in the com¬
nage.
Including freight carried for the company's pany's treasury, and the amount of bonds outstand¬
ing in the hands of the public actually decreased
own use the average train-load, would be 725 tons.
Yet large sums were spent for the con¬
The average rate realized per ton per mile, as al¬ slightly.
up
In 1912 the average train-load was
to 634 tons.
only 601 tons, in 1911 it was but 524 tons,
ready stated, is slowly declining and for 1913 was
struction of
new
lines, for new equipment and for
expenditures on
and 8.096
account of the construction of new lines aggregated
mile in 1911.
But owing to the great
The expenditures for additions and
addition to the train-load, the trains for 1913 earned $6,050,323.
betterments which were' charged to cost of road
$4 86 per mile run, as against $4 62 in 1912, $4 24
in 1911. '
aggregated $5,099,652 and the outlays for new equip¬
and
additions
only 7.653 mills, against 7.688 mills in 1912
betterments.
The
mills per ton
The
company
conditions
were
satisfactory
in the previous fiscal year, when,
so favorable as in 1913, had a
not
balance remaining above the dividend
requirements, and for 1913, with the increase in net
sums
Under
cash
about
were
were
the
on
8
million
Considerable
dollars.
also needed for various new
circumstances
hand June 30
it is not
1913
was
acquisitions.
surprising that
only $5,117,633,
Stated
against $12,829,424 on June 30 1912, notwithstand¬
brief, the net corporate income available on the
ing that $12,958,546 of payments were received on
earnings, the result is of
in
ment
course
still better.
operations of the twelve months, after providing for
all expenses
and fixed charges, was $24,568,313,/while
7% dividends on the stock was no
the call for the
more
than $14,698,659.
This computation is on the
basis of the, old amount of stock
outstanding, the
increase in the same which was
recently decided upon
having taken place.
account of the
and
yet
during the
new
«
of 296
eleven different branches and extensions.
sources
of traffic and
new
constantly being opened up.
,
year
road, speaks of 564 miles of road being in
progress on
Thus
subscription for the $21,000,000 of new
report, besides noting the completion
opening to operation
miles of
Out of . the surplus
not
The
stock.
.»'
territory are
.
.
1083
THK
CHRONICLE
dent Wilson that he lend his aid in carrying out
dent's anti-trust program
FARM CREDITS.
Thq following
"\yallace's Farmer",
culation
and
to
comes,
wide
Judiciary Committee.
from the editor of
us
to Mr.
influence.
as
th§ Presi¬
Chairman pf the
The President's desires with regard
expressed in
a letter to the latter on
the 10th, which also conveyed the information that anti¬
periodical of extensive cir¬
a
Clayton
by remaining
It will be observed
were
trust
legislation would be paramount among the matters
be-considered at, the regular session.
In this c.opfnunicatipn Mr. Wilson wrote as follows:
^
'
that this writer says that "with
to
borrowing."
force of the House of
long leases, and the
rights of the land and the tenant secured, the farmer
wil| have no need for any additional facilities for
Editov "Financial Chronicle": New York City,,
Dear Sir.—I have read in your
to say on
On
th^e Committee
some
have
you
points I
and boost farm lands until they would not pay
We have
Nor would it help
now.
per cent
of the farmers,
agree
to offer..
''
,
•
'
'
,
one per
cent
entirely too much speculation
the renter, comprising about 40
a
little bit, he having
security
no
'yS
to working with you and
at
of "Wallace's Farmer" of last week, in which
all, at least
now or
the work
near
future, for the
reason
they involve unlimited liability, and,furthermore,
that
short-
on
time loans require supervision of the farmer who seeks the
loan.
Old
They
are a
splendid thing for the
Country, who
poor
farmers in the
forced by circumstances to
are
require supervision by
Imagine
assume
her
right.
buy
committee decide
a
not, to
a cow or
that he buys the
see
gets her at the right price, and then feeds
a cow,
Imagine
an
Iowa farmer in
order
to "secure
a
loan having a committee see whether or not he should
lot of feeding steers, and then see that
a
the most approved methods.
farmer consent
association".
extent of his
or
buy
he feeds them on
Neither would the Western
be liable for the debts of
"landschaften
a
is doubtful if he would do
It
own
so
to the
even
interefere with your own
what, I
The real trouble with the Western farmer is with
cases
is simply
a
our
leasing
conspiracy
between landlord and tenant to rpb the land and divide the
loot.
In
the
Old
Country,
am
experience, counsel and assistance in
your
to
seems
our
report,
indeed indispensable in' the
me
'
-
liberty to suggest to you anything that would
personal plans and I feel rather selfish in saying
it
matter
a
of
public duty
mere
on my
and the next Congress—for our work cannot be
finished in a single session.
If I accomplish no more
by this than giving myself the pleasure of letting
personal estimate of you, I shall at any rate have discharged
was
really in my mind and heart.
If I dared, I would beg
you to remain in the House.
Cordially and sincerely
,
WOODROW WILSON.
accede to the President's
#
In
signifying his decision
to
wishes, Mr. Clayton said:
do
no
remain
to
in
can
!
yours,
1
ocy
.
less than follow the express and
repeated wish of the President
the House and continue
Committee, provided, of
Congressional
District
course,
of
Chairman of the great
as
Judiciary'
the wishes of the Democrats in the Third
Alabama
are
in harmony with the'expressed
judgment and desire of the head of the party.
'
I have, therefore, tendered to the Governor of
Alabama my resignation
of the
appointment to fill the vacancy created by the death of the late
Senator Joseph F. Johnston and will be
a
candidate for re-election to the
House.
■';/ ;r,'
./•:>:.
Representative Clayton was named
of
Senator
Aug. 8.
Aug. 12 by Gov.
on
Joseph F. Johnston of Alabama, who died
No action had been made
the Senate
the
on
its Credentials Committee to which it
or
on
the appointment
by
was
re¬
ferred.
Many of the Democratic leaders of the Senate had
questioned Gov. O'Neal's right to make [the appointment
and had expressed it as their conviction
that
a
special elec¬
tion should have been called to empower him to
Senator.
Before
name
the
Representative Clayton had withdrawn
from the Senatorial race,
Representative Oscar W. Under¬
Alabama, the Democratic leader of the House, for¬
mally announced
on the 4th inst. his candidacy for the Senate
beginning March 4 1915.
In his announcement
Representative Underwood said:
°
:
for the term
With the enactment of the tariff
stated in
.as
It
saying, but I consider
you know my
wood of
borrowing.
system, which in the najority of
having
us.
O'Neal of Alabama to fill the unexpired term to March 3 1915
committee of the association.
Western farmer having
a
whether he ought to
right kind of
a
that is before
part to say how earnestly I have desired that I
might have your aid and
counsel as Chairman of the
Judiciary Committee during the next session
unlimited liability, to limit loans to productive purposes, and
to
Ways and Means and
on
I do not deem myself at
I
of the Old World will not do here
in the
As the chief direction of affairs in
carrying out of our party's program.
the report is published in full.The farm credit systems
Representatives.
Banking and Currency, I foresee that the chief responsi¬
my conscience in the matter and said what
Ex-jSecretary James Wilson and myself spent two months
in Great Britain last summer making an investigation of
agricultural conditions there. I take pleasure in sending
you a copy
on
Judiciary,
looking forward with great satisfaction
*
with you; one, that cheap money, as it is proposed to furnish
it on land security, would simply increase the speculative fever
the investment.
'
great deal concerned at the thought of losing you from the wording
bilities of the next session will lie with the
Committee on the
of which you are chairman.
I was
issue of Oct. 4 what
the subject of farm credits.
am a
the present session has lain with the Committee
WALLACE'S FARMER.
October 8 1913.
on
I
:
~
■
^
V
My Dear Mr. Clayton:
House
that
has
been
bill, I have completed the work in the
ambition ,to
government
accomplish.
Before retiring from
public life I should like to have the honor of representing the people of the
he has put
cratic
provides for the maintenance of soil fertility
by giving the tenant the right to recover for any fertility
recover.
in the soil which he has not had opportunity to
On the other hand, it forbids the tenant to sell
certain crops
off the land unless he restores to the land the
manuriai value of the crop sold.
are
not anxious to
For this
reason
not
change.
a
"borrowing
money.
Iowa outside
up
no
need for any additional facilities for
the matter in this week's
copy
also.
I
also
am not so
are
owned
paper,
by farmers.
I took
of which I send
anxious to correct
error as to
you a
promul¬
gate truth.
nominated
on
.
FINANCIAL
NEWS.
A sale made at the Stock Exchange of 8 shares of National
tion in bank stock this week.
was
the
only public transac¬
No trust company stock
was
sold.
Shares.
the 4th inst.
be Assistant Treasurer
to
States at New York
to
succeed Charles S.
,
8 Nat. Bank of Commerce.
Low.
185
High.
185
Close.
185
by the In¬
ter-State Commerce Commission to represent the
opponents
of the 5% increase in freight rates for which
application
made
by the Eastern railroads this week.
appointment, Commissioner Harlan
on
general
public
the 9th inst. said:
or
Last previous sale.
Oct.
1913—
185
as
with
counsel in the
This is in accordance with what has been the
practice
some
interest.
years
in
It must
cases of
be
not
large importance and of wide
however,' that the
supposed,
Commission has retained Mr. Brandeis to advance
theory
was
With regard to
Louis D. Brandeis of Boston and he has consented to act
or
support any special
preconceived notion of the Commission about the
case.
The carriers who have asked the rate advance will be
represented at the
hearing by
some
of the ablest attorneys in the country; they will fully de¬
are in need of more revenue.
velop the concrete proposition that the carriers
The individual shipper is ill-equipped to meet such
BANK—New York.
.
Louis D. Brandeis of Boston has been retained
of the Commission for
Bank of Commerce stock at 185
,
Millington* resigned.
rate advance case.
LEGISLATIVE AND
.
At the request of the Commission I have been in communication
•
HENRY-WALLACE.
BANKING,
.
candidate for the Democratic Senatorial nomination.
a
the United
the
Sincerely,
election.
Martin Vogel of the law firm of Vogel & Vogel of New York
was
It is said that two-thirds of the banks in
the chief cities
primary
Representative Richmond Pearson Hobson of Alabama is
of
With long leases and the rights of the land and the tenant
secured, there will be
State of Alabama in the Senato of the United States and have therefore
announce myself as a candidate for the Senate in the
Demo¬
concluded to
tenants
change farms and the landlord does
often want to make
my
a
controversy because
his interest is confined largely to the rates on his particular
products; there¬
fore, unless the Commission takes steps to develop the other side of the
broad question.it is likelyjto have a one-sided record upon which to
dispose
of the issue.
A New York Stock
Exchange membership
was
reported
posted for transfer this week, the consideration being given
as $45,000.
The last preceding transaction was at the same
figure.
In
a
case
possible.
the
of such importance we feel that we ought to have all the
light
Manifestly in such
Commission
reached.
a
a case
satisfactory
nothing short of
basis
to aid the Commission in
a
candidate for the United States Senate.
Mr.
Clayton has
retired from the contest in deference to the wishes of Presi¬
whatever
bringing out all the facts.
duty has no other significance except
One of the events of moment of the week has been the with¬
drawal of Representative Henry D. Clayton of Alabama as
for
a
full record wrill give
conclusions
may
be
It is with this thought in mind that Mr. Brandeis has been asked
by the Commission of his standing
as
as a
His selection for this
it may be regarded
as a recognition
lawyer and of his well-understood
ability in analyzing and broadly treating questions of large importance and
public interest. Doubtless certain protestants will have their own attorneys,
but Mr. Brandeis will be the general channel through whom the views of
others opposing the proposed advance may b£ presented of record.
Oct. 18
1913.]
'
»■
-
carrying out its work in connection
In
-
i'
-
THE
_
.
-
valuation of the railroads the Inter-State
1088
CH EtONICLE
t
The
gansetii."
with the physical
Commerce Com¬
Star liner "Kroonland"
Red
ued 89
res
and the French liner "La Touraine" about 40.
persons
■
;
•
segregated the country into
mission has
follows:
the
Delaware,
New York, North Carolina, Pennsylvania, Rhode
Island, Vermont, Virginia and West Virginia.
Southern—Headquarters,
Chattanooga, Tenn.:
Alabama, Florida,
shire,
Jersey,
New
South Carolina and Tennessee.
....
.
1
Indian
Territory,
Missouri, Nebraska, North Dakota, Oklahoma, South
V- vv' /
Alaska, Arizona, California,
Montana, Nevada, New Mexico, Oregon, Utah, Washington and
Idaho,
Wyoming.
since they
y■.
1
that
'
—4
v"'
;
'r-!
bant;s is concerned."
<
charge
•f the work; it has since, it is stated, demanded practically
all of his time, and, according to the newspapers, he has de¬
railroads, in March, Judge Prouty was given general
the
give attention
despatches state, that he will take up the direction of
Judge Prouty has been
valuation proceedings.
his present term
the Commission since 1896;
in 1916.
put
,,,
denied that the falling off in the price
the
member of
would expire
a
under
privileges of the bonds will remain
value of the bonds
enactment the
would become redeemable bonds instead of unredeemable
expressed the opinion, as he has before, that the
He
of
the 1913 convention of the
American Bankers' Association
held in Boston last week.
As
currency
tions and acts
readers
our
are aware,
the
the paramount issue, and the delibera¬
of this national meeting bid fair to become his¬
question
was
toric in its influence
law which should be
cents
equitable to the business and banking
prob'ems of the day, will find our report of the
Boston Convention an interesting record of the addresses,
financial
and detailed proceedings of each of the
Bank"
We
our
sections meetings being
"Savings
and
"Trust"
"Bank,"
sections—the
given in detail.
be pardoned if we refer to the appearance
may
"Bankers' Convention" number,
of
which, the reader will
notice, is printed this year in a photo-brown tint.
We are
sure the reader will also appreciate the usefulness of the ad¬
covers
we
the
have endeavored to
of financial
class
in
displayed
vertisements
advertising.
supplement. • Between its
gather tog the * the highestThe "index" on pages 115
and 116 of the supplement embraces a
large number of the
banking firms
should be
helpful as a directory and guide for the bank man, investor
and other individuals requiring financial services.
The
supplement this year contains the largest array of financial
advertising, which has appeared in any single publication.
most
representative financial institutions and
Canada and Europe, and
in the United States,
'
;'
v.."
'
'•
•
^
"
.
\
\u
•.
♦
"•
•.
v':.'.'
.
on
steamship "Volturno" of the Uranium
scene.
but
took over
burning ship, this being accomplished
A heavy storm prevented immediate rescue,
Friday morning small boats from the other lines
500 persons
from the
with the aid of
which
an
oil tank steamer, the
pumped streams of oil
tion of
some
on
"Narragansett,"
the heavy sea.
Practically
caused, it appears, by the destruc¬
of the Volturno's life boats which it was at¬
the entire loss of life
was
tempted to launch before help arrived.
The North German
Wednes¬
day (Oct. 15), with 105 survivors.
The "Seydlitz," of the
same line, bound for Baltimore, has about 40 survivors.
On
Tuesday (Oct. 14) 216 survivors arrived' at Rotterdam and
Lloyd liner "Grosser Kurfurst" arrived in Hoboken
London
on
the Russian liner "Czar" and
steamships "Min-
Meapolis" and "Devonian" and the tank steamer
and invest
savings deposits in special kinds of
that purpose
securities was
The bankers also declared that the func¬
likewise criticized.
given the Federal reserve banks under the
fr.ee of charge
bill of acting
clearing house for the checks of member
as a
banks would deprive them of an
important part of their profits
They
now
derived from the collection of out-of-town checks.
also
urged that the bill be amended to allow them to carry a
portion of their reserves in the reserve city banks with
which
The delegation on behalf of the
country banks included: George W. Rogers of Arkansas;
McLane Tilton Jr. of Alabama; W. B. Harrison of Oklahoma;
they
now
do business.
Robert H. Treman of Ithaca, N.
of Joliet,
the
Y., and George Woodruff
S. D. Scudder of Richmond, Va., who cast
111.
negative vote at the Bankers' Convention last
one
against the resolution approving the
at
the
Conference in August,
Chicago
week
recommendations made
indorsed the bill
recommended a number of amendments.
He thought there was no conspiracy against the bill at the
Boston conference, but that
supporters of the Adminis¬
tration bill did not have an opportunity to present their views.
"There was no lack of good faith," he said; "the leaders
but
generally,
simply
In
trying to hurry things along."
given out by Senator Hoke Smith on the
were
statement
a
10th, following
a
conference with the President, the middle
the bill is likely to
of November is fixed as the time when
■
comparatively short time eleven other ships were standing by,
the "Carmania" of the Cunard Line being the first to reach
the
segregate a portion of their assets for
ments to
.
Line was com¬
pletely destroyed by fire, which started Thursday morning
(Oct, 9) while the liner was in mid-ocean.
Of the 600 odd
passengers, about 100 were lost.
That all were not lost
due to the fact that the ship was equipped with wireless ap¬
paratus.
By this means aid was summoned, and within a
The
\
urging the Senate Banking, and Currency
In
tion
business layman and all other per¬
interested in keeping themselves informed on the great
principal
■
•
Committee
to make some provision for retiring the Government 2s, the
bankers suggested that the latter be refunded by higher
interest-paying bonds or retired at not less than par.
The
provision to force national banks maintaining savings depart¬
The banker, investor,
committee reports
per
bonds, as they now are.
interests of the country.
sons
by the new law in that with its
be strengthened
the final enactment of a new currency
on
the circulation
unimpaired and at the end of that
will be redeemed by the Government.
time they
our
of the bonds should
in their holdings or into giving
provisions of the currency bill as it stands,
the
would
Convention Section," which contains a complete report
the
For the next twenty years, he said,
consideration to disposing of them.
2
with
>
additional security for circulation because of
Our contemporary adds that—
up
The Secretary
subscribers throughout the world
this issue of the "Chronicle" a copy of our Bankers'
mailing to all
v;
-
influence the bankers into losing confidence
♦
are
y
-
fall in the twos.
'
We
■
the danger point, and 90would
the value of the bonds to the national
£,>
Vj
v
reported by the "Evening Post" that the Secretary
also stated that he did not intehd to call upon the banks to
;:'r-.v..,
;
reached the danger
:
It is
It is at the suggestion of his associates,
interests.
to both
the danger point as far as
not be
actment of the law
cided that it would be impossible for him to
In declaring
majority of the securities,
a
"Ninety-four and three-quarters is not
physical valuation of railroads. With the en¬
providing for physical valuation of the
rector of the
hold
point, the Secretary said:
Commerce Commission to become di¬
from the Inter-State
pending
justification exists for thinking that the price of the
no
bonds, which last week touched 94%, had
Charles A. Prouty will shortly retire
It is announced that
contended that any depreciation in
legislation would fall heaviest on the country banks,
currency
Francisco:
San
His remarks were made in re¬
resulting from the enactment of the
bonds
these
bankers
The
bonds.;
Dakota
and Texas.
Pacific—Headquarters,
a sense
assuring the bankers, who had expressed concern because
of
the
recent
decline witnessed in the price
of
the
Illinois, Iowa, Louisiana,
Colorado,
"unpatriotic and in
as
that the Government 2% bonds had
reports
the danger point.
reached
I
and Wisconsin. ^
Kansas City:
Western—Headquarters,
Kansas,
criminal" the
•
Central—Headquarters, Chicago: Arkansas,
Michigan, Minnesota
denounced
Treasury McAdoo
Kentucky, Mississippi, Ohio, Panama, Porto Rico,
Indiana,
Georgia,
week, Secretary of the
Bankers' Convention in Boston last
New Hamp¬
Maryland, Massachusetts,
Maine,
Columbia,
of
Washington, D. C.: Connecticut,
Monday accorded
representatives of the country banks appointed at the
During the hearing in Washington on
:
Eastern—Headquarters*
District
five divisions as
"Narra-
reach
the floor
of the Senate.
This statement is coupled
with another in which the remark is
taken
a
vote is
or even
defeat."
tration
made that "if
later, it will not-be an Adminis¬
Senator Smith's utterances, as given in
by Jan. 15,
the "Journal of Commerce," are as
follows:
perfected by the Senate and will become law.
Republican Senators will join with Democrats in an effort to make the bill
satisfactory. Perfected as it will be, I unhesitatingly predict that a majority
of the country and a majority of the Senate, including a majority of the
Republican Senators will accept the principle of Government supervision.
"The currency oill
will be
The whole thing in the
will work these out.
Senate
essential.
of the biggest pieces of legislation
Senate to-day is a matter of details, and the
Government supervision is absolutely
"The enactment of a currency law
that Congress has ever
is one
undertaken.
I believe in a thorough study of the
The Senate was free to amend the tariff bill and will feel free
improve the Glass bill.
The bill probably will reach the floor
question.
to amend and
of the
Senate about the middle
If
debated.
a
of November, and should be thoroughly
vote is taken by January 15, or even later,
it will not be an
Administration defeat.
"On the contrary,
the country will appreciate the efforts of
Wilson to obtain currency reform, and will
consider
having been brought about through his persistent
form is
a
President
law for reform as
insistence that such re¬
necessary."
Senator
November
O'Gorman
as
the
this week named
time
when he
possibly be reported by the Committee.
saying:
«
the latter part of
bill might
thought the
.
He is quoted as
"
1084
"I
THE
well
can
understand
country when there is
fortunes
are
the surprise
CHRONICLE
that must be
felt throughout the
question whether bankers and business men whose
a
directly affected by this
shall
measure
be allowed
to
before their
representatives in Congress and
point out weaknesses in the
At times I can
scarcely believe my eyes when I read suggestions
that this measure should be
passed at once, regardless of the consequences
to the
country.
Senators will discharge their
responsibilities and perform
their duties as their own
consciences and their own intellects tell them
York, Hitchcock
in this bill, although
word
in
The
in
some
quarters
it
has been
are
regarded
as
Owen, of
the Senate Banking and
Currency Committee that the bill
might be made more acceptable if modified so as to require
banks to subscribe to the
capital of the regional banks only
to the extent of
6% of the capital and surplus of the subscrib¬
ing bank instead of 20%, as now called for under the bill.
An account of Mr. Cannon's views
the
merce"
on
the
bill,
as
presented
follows:
as
Mr. Cannon in the main only mildly condemned
the Glass-Owen bill.
was present by
request, and said he believed we are to-day
solving the great question of
for twenty years.
currency reform than we have been
He said he realized how easy it is to criticize and tear
down and how difficult it is to create and that
those who have brought this
bill forward to its present state are
entitled to
e warmly congratulated
on what they have
accomplished.
1
,
,
Mr.
Cannon said
he
more or less a matter of
received such
Mr.
a
recognized
as
well
as
any
one
that legislation is
compromise, and he hoped that this bill, which has
tine start, could be adjusted so that it would
become
Cannon made the
should be made.
following suggestions
He said he thought
as
to
a
H
e
A debate
in this
Science of New York.
sessions at Earl Hall, Columbia
and
.
some
the Government could never be
embarrassed when called upon to redeem
them, the question might be solved.
If it is possible, he
thought the rate
which is to be charged to the Federal reserve
banks applying for these notes
should be distinctly named in the
Act, the charges
being graded according
to the length of time the notes are
kept outstanding.
This would enable the
banks and the mercantile
communities, which would be borrowers
through
members of the reserve associations
issuing notes, to gauge accurately the
cost to them of the reserve notes.
Mrl Cannon felt that this whole
section
was somewhat
ambiguous, and could be rewritten with
advantage to the
Act.
::U' 0;"'
'v;v;
Mr. Cannon, furthermore,
thought it would be advantageous to have but
six or seven, cr fewer, regional reserve
banks, as with the smaller number
it would be much easier to
adjust the relations between
them, and they
could then be increased from time to time as
seemed desirable.
"With respect to the retirement of the
circulation, based upon the 2%
bonds, it seemed to Mr. Cannon that the Government
could afford to treat
the banks Very liberally.
In the matter of. stock
subscriptions, which
seems to be a storm centre of
discussion, he favored leaving the clause as
it is, but of adding a clause
providing that after three years the
member,
banks would be at liberty to
dispose, if they so desired, of at least
75% of
such stock as they held, the
purchasers to be approved by the board of
or
so
the executive committee of the
Federal reserve bank of which
a member, before
any transfer could be made.
The stock
was
disposed of net to have
any
voting
power, and would also show
plainly
its face that such transfer could
only be effected with the
approval of
the board of Federal reserve bank.
;
*
on
Senator John Sharp Williams
the bill as a whole the "best
(Democrat), while describing
banking and currency bill ever
yet presented to Congress," enters
the provision in the
reserve
checks.
a
vigorous protest against
bill.prohibiting banks in
the regional
system from charging for the collection of
out-of-town
His protest is registered in a
letter to President
Wilson, printed in part in the New York "Times" from
which
we take the
following:
'
Now I come to the defect which seems to
me to bd vital.
It is the at¬
tempt to force country banks to collect and remit
cheeks and bills of ex¬
change drawn upon other banks in other places
free, of
charge.
This is
a part of the
public functioning of banking.
That is to say, it does
not
relate itself to the Government or to the
interests of the people as a
whole.
It relates to a purely
personal service and the charge for the
service.
It is a service which a
private individual as well as bank could
perform,
and which private individuals
not
frequently do perform.
that way it is called
"shaving" notes or bills.
The sole result of this
provision would be to
When performed in
deprive the country banks
of large amounts of profits which
they now make and which add to
the divi¬
dends which they pay to their
stockholders, and which their customers are
willing td pay because it is a reasonable
compensation for the service
ren¬
dered, and all, as far as I can see, solely for the
benefit of the banks in
large cities.
\
Among his other criticisms, Mr. Williams
proposes that
instead of refunding the
2% bonds by 3% bonds without
the circulation privileges, the
3% bonds be used as a basis
for circulation
subjected to
now
a
condition that the
currency so issued be
tax of 1% in addition to the
circulation tax
on
imposed by law.
•
./•.
'
——♦——
-
Owen
the
at
was
Hotel Astor
of
one
on
on
by two
Wednesday
Wednesday night.
the speakers
ference and Representative Glass
at
Tuesday's
con¬
likewise to have ap¬
was
peared, but was unable to attend the
gathering; the paper
he had prepared for the occasion
was, however, made a part
of the record.
What he had to
say therein with regard to
the bill is submitted in
part below:
to Government
control, upon
compulsory membership, which
as
to
in that most vital
requirement of thefbill that in the future, funds on
deposit in other national banks cannot be counted as
legal reserve.
This
means an
immediate loss of profits to
many bankers—1 say immediate, for
ih the long run the
change will benefit bankers as well as the
public—and
it is the prospect of that loss
that explains most of the
organized opposition
to the bill.
'
■>:'■
The fight is to drive us from our
firm resolution to break down the
arti¬
ficial connection between the
banking business of this country and the stock
speculative operations at the money centres.
The
Monetray Commission,
more discretion than
courage,
absolutely evaded the "problem; but
Banking and Currency Committee of the House has
gone to the
with
.
directors
banquet
a
Senator
followed
was*
University,
■
,
controversy raging around this section,
he suggested that by making these notes
specifically redeemable in geld
and guaranteed by the United States
Government in such a manner that
the bank
The conference opened at the Cham¬
Tuesday and
on
It is
gold and
•
Commerce
these.
under¬
stood it, no notes could be issued
except on request of a Federal reserve
bank, the ultimate security of the note being 33
1-3% reserve in
■
of
provided in another way in the Aldrich
scheme—a scheme that was
unanimously indorsed by the American Bankers'
Association.
It is not
the required
capital Subscription nor the 5% dividend.
It is none of
in banking, three of the members should be
competent
! -/v?
t
:>
Mr. Cannon said that the
proposed Federal notes appeared to him to have
most of the qualifications of our
present national bank notes.
As he
•vy-v-;
the currency bill took
place the present week
on
in
further¬
bankers.
be
Presi¬
the
recalcitrant
on
city under the auspices of the Academy of Political
The real opposition to this
bill is not
we shall never
yield.
It is not as
of the board
short-time commercial paper selected
by the bank and ap¬
proved by the Government agent, and further by a first lien on all
the assets
of the issuing bank.
' ■
*
•"
that
pressure
tors and to
is
the two Cabinet officers and the
by the President and be subj ect to confirmation by the Senate.
more thought that instead of
requiring that but one member
As there appeared to
strong
which
be experienced
lawful money
was
have made no attempt to coerce them.
The whole
subject, it is stated, was brought up without
any attempt at
reaching any definite agreement or
compromise.
law.
changes he thought
Comptroller of the Currency should be omitted fron the
composition of
the Federal Reserve Board, and that the entire
board should be nominated
,
over
Hiite House have indicated
about to bring
Democrats.
The President,
however, is said to have en¬
gaged in entirely friendly conversations with the three Sena¬
ber
committee, is furnished by the "Journal of Com¬
Mr. Cannon
nearer to
dent
the last
the 10th inst., when James G. Cannon,
on
Reed of Missouri—who
of the features of the bill,
with them.
Reports emanat¬
some
ing from the
currency reform."
hearing
of Nebraska and
hostility to
and talked the situation
apparent
President of the Fourth National Bank of New
York, ap¬
peared, was marked by a suggestion from Chairman
to
had indicated
they
Defects, blemishes and deficiencies
xcvii.
On Thursday President Wilson
invited to the White House
the three Democratic
Senators—Messrs. 0'Gorman of New
come
structure.
ought to be discharged.
[Vol.
,
the
very
root of this
This
we
gigantic evii, and in this bill
proposes to cut the
cancer
out.
do cautiously, graduating the
operation to prevalent
conditions and extending it over a
period of thirty-six months.
propose to
Senator Owen gave voice to the
following:
The first and most urgent
objection made by some of the bankers has
been that the control of this
great system should be in the hands of
the
banks.
The proposed system,
affecting as it does the supervision and con¬
trol of the credit system of the United
States, cannot be safely confided to
private hands.
The control of this system should
not be in
the hands of
private persons,
and two dangers should
"political" control, in the offensive
avoid
control
be
not
avoided.
First,
and it should
sense,
it
should
avoid
the
The prevention of both of these evils
by concentrated wealth.
readily accomplished.
be
can
The great
public
utility banks of Europe do
to exercise
any degree of control.
utility bank conducted for the safeguarding of the com¬
industry of the nation, and not conducted for the
permit the bankers
A great public
and
merce
purpose of
making profit; conducted with
view to stabilizing
a
safeguarding the national gold supply, is
conducted
the interest rate and
Government func¬
tion in the interest of all the
people of the United States and should not be
in the hands of bankers whose
point of view is to make personal profit out
of the
banking business and
merce
of the
country
The banks
equivalent
can
to exact as
justly ask that
in
This demand
the. event
is just,
a
endure.
the
of
high rate of interest
*
*
as
the
com¬
*
2% bonds shall be protected at par or its
the
and I
as a
retirement
have
no
doubt
of
the
national
bank
notes
that the Government of the
United States will protect the
2% bonds upon
Another objedtion urged
by the banks,
a
par basis.
especially the country banks, is
that t]he savings deposits should not be
segregated.
Committee will
support
I believe the Sentae
this contention.
Another urgent objection made
against the bill is by the
country bankers
who oppose allowing the Federal reserve
bank to clear at par
private checks
on member banks,
although the bill provides that the
charge for,exchange,
as
country banks may.
they do at present, and,although under the
billas
amended, and to be amended, the country banks could
impose a reasonable
charge upon all private checks drawn upon them
by their customers and
cleared through the Federal reserve bank.
.
Under the
new
system the efficiency and perfection of the
banking system
of the United States will make the
.great American
and commercial leader of the world.
Republic thb financial
.
.
A. Barton
Hepburn, Chairman of the Board of the Chase
National Bank, in offering criticisms to the
pending legis¬
lation, .said:' ' v—:
Many features of the.bill
glaring defects.
are
fundamentally sound, but
The establishment of twelve
separate
inevitably result in keen competition
it
reserve
has
certain
banks will
among them in times of
money
strin¬
This danger has, I
think, been realized
by the framers of this riieasure, but they have failed to
meet it by the
pro¬
vision arbitrarily requiring one regional bank to
loan to another.
gency to strengthen their reserves.
This I
believe to be
an
open
confession of the inability of the
system to adjust
itself automatically to the needs of the
country.
Never before has it been
specifically directed
what investments banks
shall make, as, for example, that all
national banks should invest
20% of
their capitai in Federal reserve bank
stock, or that one regional bank should
loan to another regional bank.
Such legislation is
clearly an invasion of
the field of credit, and is
something no other nation has ever done before.
Never before has such a power been conferred
on any central bank.
If the
Government may direct the disposition of a
bank's resources to a limited
extent, the question may well be raised to what
extent it may dispose of
these resources in «their entirety.
<
One of ,the speakers at
Assistant Secretary of the
'
'
'
■'
Wednesday's conference was exTreasury A. Piatt Andrew, and
~
Oct. 18
THE
1913.]
maintain
discussion:
Bill, in
opinion, is that its
my
crucial defects in
and the monetary history
our
that our banking arrangements are responsible
which they seem to imagine
and
capital from which they think that the-world is suffering.
Committee,
inform us that "legislation
their report,
in
issue of fiat
The
have
accordingly,
limited
bill
effort
an
periods
make
to
merely
of preventing
means
One
of stress.
and credit
currency
the collapse
"more available"
and
almost to the
been
secure
real elasticity.
As regards the extension of credit in the form of deposits
the bill offers
balances,
ledger
or
of the
York City
New
It, therefore, does not insure
subsequent contraction.
reduce the required
to
cash
reserve
25 to 9%, or, in other words, from
banks from
have menaced the
Generation after generation of sound cur¬
advocates have sought to get rid of them, and the
only subsided within the last decade because, with the lapse
effective
no
present day the outstanding Government paper money has
intervals, even
of unsettlement to business, and at repeated
effort to do so has
of fifty years
since their issue, the amount of the remaining greenbacks has become rela¬
tively unimportant.
No lesson of our history is plainer than that the Gov¬
ernment ought not to jeopardize its own credit and the people's standard
of value by the issue of note obligations that are not covered dollar for doliarbygold.
■
.-V:.'" K
■
With the disgraceful and costly nistory of greenback and silver legislation
so freshly in mind, it would indeed be folly to begin again the issue of Gov¬
immediate extension of credit, both in the
of notes, and it provides
source
solvency of the Treasury.
very
rency
The bill provides for a vast
mechanism to
a
within the recollection of men not yet old, these notes
"less
expensive" all of the time.
form of ledger balances and in the form
Revo¬
fifty years ago
From the date of our last issue of Government notes,
detect all through the
can
It is unnecessary
lesson.
lutionary times.
for making currency and credit available in emergencies
means
and
during
sought
not
of credit and
long since abandoned the
The experience of this country with such money from
money.
however, to hark back to the lamentable experiences of Colonial and
"which will furnish loans upon
inexpensive (sic) but absolutely safe basis."
The framers of the bill,
an
the issue of Government
earliest colonial days abundantly points the same
never more
was
than it is to-day,"
demanded
urgently
some
value, and the leading countries have therefore
they have endeavored to provide a remedy is the lack of
which
for
sufficient
without at
are settled,
No foreign Government has ever undertaken to issue notes
time over-issuing them and so degrading the standard of
paper money.
Among these conditions for
banking system.
our
of the country
of this and every other country testifies to the
dangers to which this standard is subjected by
banking system, but have tried also to remedy conditions that have no
essential relation with
monetary standard, the measure of value, by which all of
the
exchanges and payments and obligations
the
The real trouble with the House Banking
functions of the Government is to create and
One of the most important
theV'^vening Post" furnishes the following report of his
framers have not been content to try and remedy the
1085
CHRONICLE
■
approximately $300,000,000 to about $100,000,000.
It would reduce the
required cash reserve of Chicago and St. Louis by the same percentage, or
by
banks of the country as
these figures upon
If this
ernment credit notes at the
whole by about $380,000,000 (I base
a
into
the
reservoir
Federal
the
of
banks,
reserve
they
reserve
I believe that such additional
W.
available
relief
of
means
as
further that the reserve ordinarily
to be far
periods of disturbance.
in
the purpose
I believe
to be held by the reserve banks ought
This could
the amount
to
be easily accomplished
deficiency
Again, no restrictions
,
member
bank
and
a
tax upon the
commercial
its
with
a
reserve
bank
The character of the
including not. only all notes and bills the
as
but also all bills and notes which "may be" so used.
few bibs and notes which conceivably
"may" not be
complies
the maturity
with
of thebills.
requirements
The Democratic candidate for the
I
to this time, publicly expressed his approval
so
Bryan's ideas with reference to note issue.
as
am aware* up
the American people, who
of further
tary MqAdoo has recently shown, the majority of the paper held by national
banks
proposals in the bill come to the coun¬
There had been no suggestion that an attempt
revive the greenback heresy or to adopt in legislation the
of Mr.
used, and as Secre¬
so
°
It would be difficult to find in
history
banks ought to be enabled to re-discount practically without limit in times
which had
of crisis in order to prevent immediate and permanent
an
party, and which had been rejected by
to be
inflationary.
world,
But above all, the note-issue provisions of the bill
ordinary conditions.
are
inflation, there ought
provision which would limit the amount of re-discounts under
some
•
of lawful money held
the law that
same
a
33 1-3%
the
issue
of
demand
own
additional
its
at
a
require the
to
reserve
,
to
for the
them, the lawful
the
the
new
Some
that to
Government is
any reserve
ished
the
money
be held
to
reserve
by
Vice-President of the National Bank of the
banking:
'.
v
.
.
The Boston meeting of bankers was not a
In other
annual
the Federal reserve banks to redeem
of the American
meeting
which has had
a
that the
through another
through the
reserve
and
new
than
reserve
to the reserve bank through which
be immediately
amount to
no
re-issued, and
more
than
one
half of 1%
per annum,
cities.
question.
The Chicago Conference recommended
Chicago recommendations unanimously.
Some of the committee also
new
seem
notes will be retired before the
inclined to the view that if inflation does
those
and
acts
to
But there is
expiration of twenty
under the terms of Section 4. the
all
derstanding,
issue of Government notes, it will be offset by
the retirement of national bank notes.
reserve
banks
are
no assurance
given power "to perform
"obtaining,
issuing and circulating notes," according to the provisions of the
National
Bank Act.
Federal
reserve
banks
but also to purchase Government bonds and to issue their
manner
sult, as
many
as
national
banks.
If the
own
notes in the
adoption of the bill were to re¬
predict, in important withdrawals from the national banking
system, and the sale at much lowered prices of the Government 2s. one may
anticipate that
serve
many
of the released bonds would be purchased by the re¬
banks and that notes would be issued by them to take the place
of the
Where there is so much misun¬
believing that a spirit of fairness on both sides is
♦
The Merchants' Association of New
on
the 8th inst. declared itself,
in favor of
tors,
tee
on
modifications
a
York, at
a
meeting
through its board of direc¬
Owen-Glass
the
fundamental
certain
currency
are
bill, provided
incorporated in it,
report of the Association's Commit¬
Banking and Currency, of which Irving T. Bush is
Chairman.
We submit below the findings of the Committee,
together with the resolutions of the directors approving the
same:
study of
Gentlemen.—-After careful
Committee suggests
and
relinquished by the national banks.
The House Committee, therefore, proposes to make a
notes
.
certain amend-
essential at this time.
apparently thus authorized not merely
the Government Federal reserve notes,
con¬
public
this explanation due both to the bankers and the
Th action had to do with
are
to act as agencies for the issue of
same
think
enjoy all those privileges" conferred upon national
banks by Section 5136 of the Revised Statutes, which includes
The
I
members of Congress,
that these
and, furthermore,
years,
the
by unanimous action and the meeting at Boston simply endorsed the
tion to the extent of hundreds of
tend to result from this
legislation; on the
general apathy on the part of
ments
to one-third of their amount.
by bankers
they themselves have brought about the demand for currency reform
this
on
There is
millions, if only the bank through which
well-known fact
The subject of the Currency Bill was a "natural
and there has been, and is now, a
"
money
a
the endorsement of the action of the Chicago Conference, which
nothing to prevent, their repeated re-tissue and their continuance in circula¬
they are issued retains lawful
It is
election last year.
its Executive Committee will show that the association
It is not true that the bankers are opposing
tion.
trary,
there is no reason to
,
organization
The date and
tionin its efforts to bring about currency reform, and offered its co-opera¬
which they are subject may
expect that contraction will follow any expansion of these notes.
the
Conference, in its preamble, recognized the earnestness of the AdminIstra-»,
returned at once
they were originally issued, and so may
the tax to
as
reserve
one, as was
their way to another reserve bank for years,
not find
names on
outside of
addition to the currency
When received by another reserve bank are to be
an
has been controlled and dominated for the last ten or fifteen years
They assume that this
bank.
a temporary
Government notes, but, as such notes issued through one
bank may
even
any more
Association,
was
1913 were fixed by the Executive Committee
year
before the national Presidential
corporated during the discussion in the House, that no reserve bank shall
pro,vision will prevent
Bankers'
called convention, it
consecutive existence for nearly forty years.
place of meeting for the
that inflation is
and
currency
,
t
sufficiently guarded against in the bill by the provision in Section 17, in¬
pay out notes issued
'
member of the Senate Committee on
every
of the notes deposited with
members of the Committee have argued
principles and traditions of a great party.
Wilson, the Secretary of the Treasury, Senator Owen and
Government notes may consist entiiely of other Government notes.
of the
was
Republic, Chicago, has telegraphed the following to President
estopped from holding more than this 5%
consist of silver or greenbacks.
may
Bryan and his followers
this support it seemed to be necessary to sacrifice the cher¬
W. T. Fenton,
.
banks, for, although they must ordinarily
reserve
secure
whatever
banks to provide.
hold "lawful jtnoney" to the extent of 33 1-3%
of the theories of Govern¬
legislation upon this subject, but it is unfortunate
necessary to secure any
redemption of these notes. No other gold reserve is required
to be held, even bj
words,
It is undoubtedly true that the support of Mr.
pro¬
the extent of
deposit all of its general funds and revenues
in the reserve banks, it is legally
reserve
this
any case,
5% gold fund, which the bill authorizes the Federal Reserve Board
option
As the Treasury is obliged to
personal triumph for Mr. Bryan, but
Jackson and Thomas H. Benton to Samuel J. Tilden and Grover Cleveland.
notes
only not required, but it is not allowed, to hold
beyond
a
for this purpose the
hundreds of millions of dollars, and against these notes the
not
unanimous verdict of the civilized
ment and the economic teachings of every Democratic leader from Andrew
In
liability.
Government
political dogma
•
it is, at the same time, an emphatic condemnation
of .awful money which, according to another section of the
allows
vision
a
It is not clear from
bank may not count as reserve
bill, it must hold against its
,
.
permanent place in the tenets of the dominant
ministration bill is certainly a great
shall not exceed three times the amount
by the Federal reserve banks.
reserve
a
•
incorporation of the provisions for Government note issues in the Ad¬
The
;
-
found
•
occasion where
be successfully injected into a great legislative measure as
could
price for the support of a faction.
The Government is to be allowed to issue its notes without any other
limit than the provision that they
never
The large majority of
favor sound money, believed that the question
issues was settled permanently by the elections of
greenback
1896 and the following years.
While the
*
silent upon the subject during the last campaign, and he
was
far
*
submitted to a vote in a national election.
has not
There are
*
American people at the polls and there is every
absolute surprise.
to be made to
Presidency
:
-
that it would to-day meet with their positive condemna¬
rejected theories of the Populist Party.
,
proceeds of which have been used for agricultural, industrial or commercial
purposes,
as an
was
.■
This greenback doctrine has never
is a Populistic doctrine.
It is not too much to say that the
try
paper
pay
to suppose
tion if the question could be
to the powers of a
as
maturity of this paper.
is loosely described
paper
of
means
to its duration.
or
specified in the bill
are
re-discount
to
the character
in
save
by
below the normal minimum proportioned either
reserves
of the
„
United States should issue currency in the form of its
received the approval of the
reason
rV'
Bryan will have achieved
for which he has been contending for a decade.
promises to
higher than 33 13%, but that, of course, provision should be in¬
of stress.
'
The theory that the
cluded which would make possible the use of any and all reservesja periods
deficiency in the
embodiment of the theories of
an
In denouncing it he said, according to the
If the House bill should be enacted into law, Mr.
put at the disposal of the banks in normal times, but ought rather to be
kept
J. Bryan.
'"Times":'
$1,100,000,000.
over
of lending power ought not to be
reserves
Wednesday night, not only attacked the bill as
on
Socialistic, but declared it
In other words, according to the terms
of the bill, such a situation would allow an immediate expansion of credit
by the reserve banks to the individual banks of
Aldrich of Rhode Island, at the
W.
Ex-Senator Nelson
banquet
only to be required to hold a normal reserve in cash of 33 1-3%
are
against their deposit liabilities.
bill proposes, but does nob
require, would be an unbelievable folly."
asthebill
provides, these banks, in their turn, could extend their credits three-fold,
as
To attempt it with only a 5%
present day.
in the Treasury, such as the House
gold
even
the Comptroller's report for June 14 1912).
cash, along with the $200,000,000 or so of Government funds,
turned
were
It would reduce the cash requirements of the
$100,000,000.
about
national
1.
be advocated by the Association.
recommends that they
To Insure
the Owen-Glass Currency Bill, this
that certain modifications, stated below, are desirable,
Workability.—The Committee feels that it is of the first
real and permanent
already redundant money supply of hundreds of millions
of Government paper money, with provision for only a 5% reserve of gold,
which, moreover, is only to be held at the option of the Federal Reserve
importance that no currency bill be passed which is not reasonably certain
Board.
business men to confront..
addition to
our
,
to be put
into operation.
Uncertainty is the most dangerous element for
^
1086
THE
The bill requires twelve Federal Reserve
Districts.
CHRONICLE
In view of the fact
serve notes
that
there is considerable
uncertainty as to whether the banks of the
country will subscribe to the plan in sufficient numbers to establish twelve
regional banks at the outset, it is suggested that the safer plan will be to
establish not
more
than five in the beginning and to create additional banks
experience shows they
as
required.
are
The salaries of the Manager and
Vice-Manager of the Federal Reserve
Board should be left to the discretion of the Board
itself, so as to insure
abiUty and
in this position.
permanency
,2. National
r
LiabiHty for Federal Reserve Notes.—Section 17 of the
of
the
United
States.»
to
notes authorized shall be
reserve
This
Committee
is
opposed
the
to
be
eliminated; that it be made unlawful for
pay out any notes
any
xcvn.
reservi
Federal
but its own, the notes issued being given an
identifying number.
5. That Federal reserve notes
should not be obligations of the Govern¬
ment, but should be guaranteed by the United
States, and that they shall
be redeemable
by Federal reserve banks and not at the Treasury of the
United States.
6.
That
Federal reserve banks mutually
guarantee the Federal reserve
by providing that sakj notes shall become a first and permanent lien
notes
Owen-Glass bHl provides that the Federal
obligations
bank
[Vol.
upon the combined assets of Federal reserve banks.
7. That the reserve
requirements of the Owen-Glass bill be modified and
reduced for both
country banks and banks in reserve cities.
.
pledging of Government credit for such
purpose.
The proposed notes are tjhe obligations of the
Federal
reserve
banks,
issued by them purely to facilitate actual commercial transactions, certain
of prompt
secured
wholly
as
fast
..
transactions
those
as
peradventure.
The
completed,
are
the
of
guaranty
United
and
States
are many
Compulsory Re-discounting.—Section 12 empowers the Federal Re¬
Board—
serve
"(C)
\
■
,,
..
To permit
retire, in time of emergency, Federal
or
reserve
banks to
This Committee is opposed to this requirement.
It is open to many
grave objections*
It is unfair to the depositors of local banks to compel
V
other sections of the
mitting
all
fit.
see
Federal
With such freedom, any emergency demand would
readily be met
ordinary banking terms by the larger regional banks, which would
voluntarily and in the ordinary course of business re-discount the acceptable
upon
offerings of other banks in need of immediate funds.
4.
Acceptances of Domestic Bills of Exchange.—While any national bank
is authorized, by Sec. 14, to accept drafts or bills of
exchange, based upon
import
or export transactions, no provision is made for the acceptance of
domestic bills of exchange.
of the
This committee believes that
country would be served
if national banks
within safe limitations, to accept domestic as well
change.
before
advocate,
the
given authority
were
foreign bills of
as
ex¬
Senate
Finance
Committee,
modifications of the Owen-Glass currency bill:
1. That the number of Federal reserve districts
be
the
following
reduced
to
five,
the number to be increased hereafter at the discretion of the Federal Re¬
Board, and that the salaries of the Manager and Vice-Manager of
serve
That the Federal
reserve notes
authorized by the bill should not
3.
banks be eliminated, and there be added a provision permitting any
reserve
bank to re-discount commercial paper held by any other
Federal
reserve
bank.
;
,
;
That any national bank be authorized to accept domestic as well as
foreign bills of exchange. '
directors
The
'
;
.7-
"
unanimously adopted
the
report
of
the
Committee in the following resolution:
be accepted and approved, that the President
appoint
a
be authorized to appear before the Senate Finance Committee in
support
of the conclusions stated in the report of the Committee on
Banking and
'
The report was
-
■
•
•
,
'
_
•
'
6
i
'•
:.'-v
v
The constituent
9--"
'
i-
'
i
-V
♦
w
•
necessary or desirable to establish
trade
organizations in all parts of the country, has approved
by referendum vote the report of its banking and currency
committee on the pending currency bill. ' The directors, of
Detroit, completed the
canvass
as
a
whole,
A sub-committee
At
the, demand
resignation
Murane,
of
of
Nome, Alaska.
About
John
Senate
District
taken for the
large degree elements necessary to provide the nation
and banking system.
Ip view of the fact that the fram-
at
good of the service.
the
oil
was
same
nominated
district.
as
Judge
the 7th, and lie was confirmed
date,
same
by
though the "Congressional
the withdrawal of the nomination by
'
'.V
■,
-
-
'
■
*
.
Under the will of the late J.
London
Pierpont Morgan, probated in
the 15th inst., his estate in England is shown to
on
$5,899,155; it is subject to
inhetitance tax,
an
duties," of $950,000.
*
or
.
•
''.
_
——♦
•
The Farmers' Loan & Trust Co. of New York has
,
D.
Court
the President.
opened
a
recently
branch in Berlin, Germahy, at No. 56 Unter den
a
W.
Linden N.
London.
may
be materially improved and
This branch
the
company,
In the latter
,
accordance
with
this
statement,
recommenda¬
seven
submitted for separate vote.
approved by large majorities.
All these have been
The several recommendations
follows:
In favor of the increase of the Federal Reserve Board to nine
members,
the two additional members to be chosen by the
original seven members,
subject to the approval of the President; the compensation of the Governor
1.
and Vice-Governor to be fixed
by the Board itself.
The creation of the Federal Reserve CouncU to be
elected by the re¬
reserve banks, the President and Vice-President of the Council to
gional
reside in Washington and to sit at meetings of the Federal
but without vote; their salaries to be fixed and
Reserve Board,
paid by the banks.
3. That in the creation of the
new
system of regional
beginning be made with the present central
reserve
reserve
banks
a
cities (three in number),
the number to be increased gradually
by the Federal Reserve Boards
as
their judgment conditions warrant.
States
the
of Cornelius
B. S. Rhoddy of the
on
Record" also reports
point out wherein the proposed Act
reserve notes to
United
was
note
issues:
That
restriction
of
the
issue
$500,GOO,000,be eliminated; that interest
on
of
Federal
Federal
re¬
-i
•
makes
the
the
others
fourth
opened in
being in Paris
and
city it has two branches.
trengthened.
4. Concerning
McReynolds,
the 3d inst.
on
concerning his removal has been made other
successor
to
n
"
■
.
Randolph Tucker of Virginia
Europe by
2.
au¬
previous to the resignation of Judge Murane
the Attorney-General accepted the resignation of United
of the.measure invite friendly criticism and suggestions; we are
prompted
are as
resolution
week
a
ers
were
a
inquiry abroad.
Attorney-General
the
than that the action
report, which was made the basis
We regard the measure as a piece of constructive, legislation and believe
tions
On the 3d inst. the Rules
The resignation went into immediate effect.
•
In
•
subject of the guaranty of bank
an
tendered
was
Judge
"death
safe currency
'
;
action be deferred pending the report of the American Com¬
amount to
organizations strongly in favor of the report of
committee, the vote cast being 303 for and 17 against.
a
the
on
mission which undertook
the
with
.
by sub-committee, is authorized to sit
thorizing the Banking and Currency Committee to make a
30-day tour through the country to investigate the subject
of rural credits and agricultural banks.
It was decided that
ness men's
,
system of rural credits.
a
or
Committee of the House, refused to report
of
the 14th and found the sentiment of the busi¬
that it embodies ia
deem
for persons and papers and administer oaths to
witnesses.
The Speaker
shall have authority to sign and the Clerk to attest
subpoenas during the
sessions or recess of Congress.
the
of the referendum, stated:
it may
as
during the sessions of the House and during the recess of Congress, and in
such cities and places as it
may from time to time designate; to employ
clerical assistance; to summon and
compel the attendance of witnesses, send
of commerce,
America, including local chambers
boards of trade, commercial clubs and national
The committee in its
Banking and Currency is authorized
on
for the purpose of determining what changes are
necessary or
desirable in the banking laws of the United States and
what legislation is
Murane's
on
as
follows:
as
necessary
of the United States of
the ballots
intro¬
was
Its text,
and directed to investigate
fully such facts and conditions
States District Attorney
membership of the Chamber of Commerce
the Chamber, in session at
Banking and
Representative Glass.
Resolvedi That the Committee
the
system was Au¬
on
A resolution to this end
given in the "Journal of Commerce," is
No statement
signed by Mr. Bush, Chairman; J.Howard
Cowperthvait, Prof. Joseph F. Johnson, Henry R. Kunhardt,
Henry Morgentliau, Edward D. Page and Paul M. Warburg.
•
the 1st inst.
duced in the House by
committee to rep¬
Banking and Currency, and that such joint committee
Currency.
a
meeting of the House Committee
on
V
Banking and Currency
on
directors, and that there be added thereto the members
of the .Committee on
-
with regard to legisla¬
♦——
Resolved, That the report of the Committee
resent the board of
Currency
a
deposits has also been authorized.
That the provision requiring compulsory re-discounting by Federal
Federal
4.
and to report
tion necessary to the establishment of such
thorized at
be
obligations of the United States.
reserve
V
,
the Federal Reserve Board be left to the discretion of the Board itself.
2.
currency
law, he will advise his stock¬
sub-committee to investigate
a
subject of rural credits
Said committee
Merchants' Association of New
stating that if the
♦
'
'
In conclusion, we recommend that the
York
the industries
a
holders to retire from the national
banking system.
The appointment of
others, would be equaUy well served by per¬
banks to re-discount for each other as they
reserve
as
bill in its present form becomes
deposits.
The end sought, namely the relief of some regional banks
by transferring
to them the surplus funds of
pre¬
James B. Forgan, President of the First National Batik of
Chicago, who came to New York to attend the banquet of
the Academy of Political
Science, was quoted yesterday in
country without the
consent of the banks selected by them as the trustees for their
of
senting the opinions recorded.
the ''Journal of Commerce"
re-discount the discounted prime
paper of other Federal reserve banks,"
subject to an increased interest charge.
'
the transfer of their funds to
purpose
be
is
There is no advantage in involving the Government
disadvantages and dangers which may be incurred.
unnecessary.
and there
3.
retirement
beyond
The board of directors has
requested an opportunity to
heard before the Senate committee for the
■
*
The $3,000 bond furnished for the appearance of David
Lamar in the Criminal Branch of the United States District
Court in New York
of that Court
trial
on
was
declared forfeited by
the 15th, Lamar
Judge Hunt
having failed to appear for
Oct. 7, as ordered.
Lamar was indicted in July by
Jury in New York for having imperson¬
ated Congressmen Riordan and Palmer; he was arrested in
Washington on Sept. 11, and on Sept. 24 United States
on
the Federal Grand
Commissioner Anson S. Taylor ordered his removal to New
On
York.
the
4th
inst.
Lamar
was
brought before
the
Commissioner again with the view to
preventing his removal
to New
York; the Commissioner revoked the bail bond and
placed Lamar in the custody of the United States Marshal
until
his attorneys had obtained
the habeas
corpus
writ
Lamar's
releasing the defendant on a new bond for $3,000.
counsel, Henry E. Davis, in Judge Hunt's court on the 13th
requested that time be given his client to dispose of the
proceedings in Washington, at the conclusion
habeas corpus
promised he would appear in answer to the New
York indictment.
Judge Hunt, however, declared the bail
of which he
forfeited.
of
in
corporators, as noted
banking
capital of
a
our
$100,000.
are
is not known whether
Saul
company's handsome new building,
drawings for which had already been
'7'7
on
ade.
'7 '
—4
.
Joseph Price Richardson, who had been Treasurer of the
Mr. Rich¬
week.
his home in Moorestown, N. J., the past
the specific charge of having embezzled
in his eighty-second year, entered the Fidel¬
$50,000 of the institution's funds, and was released under
ardson, who
$15,000 bonds, was arrested on a new charge—that of forgery
ity in 1885, soon becoming Assistant Treasurer
additional bond of $10,000
the 8tb inst.; an
—on
its Treasurer.
fur¬
he
other
on
increased to $50,000
was
arrests
inst. and
the 10th
on
required bail.
arrested
was
modeled.
the account of
$5,000 bail;
the 8th inst. he
on
some
again arrested, the
was
sficdnd
William J. Thompson, formerly
paying teller of the
every
Smith
the bank.
on
plans of the Officials for the organization of a
a
some
The
re¬
bank
by 3,600 feet, while the public
base¬
huge vaults. The remodeled building, now consist¬
complete in
The interior of
is particularly handsome, the color
being white and blue with gold trimmings, while the
marble work is constructed of hand¬
Italianfmarble.
The institution has
a
capital, surplus
profits of$l ,600,000 and resources, of nearly $12,000,000.
Rowland Thomas is President; W. B. Duke, Vice-Presi¬
and
T.
new concern
dent; J. Albert Hughes, Vice-President; William J. Delcher,
andf Snowden
Cashier,
Austin,
N.
Theodore
and
Hoff
Assistant Cashiers.
concerning his action, Mr. Dunn
statement
credit not only to the
a
particular and has all modern appliances for tbe proper
scheme
replace the closed institution suffered a set back with the
withdrawal of Edward D. Dunn from the movement on the
In
months
being
was
counters and all other
to
2nd inst.
magnifi¬
Paid
An additional story has been added,
space
the main banking room
against him is that he committed a high misdemeanor, in
that he failed to enter on the certified check record of the
check for $4,200 drawn by
building
own
handling of the bank's growing vbusiness.
company,
placed under arrest on the 8th inst. and supplied
$10,000.
The Newark "News" states that the charge
a
(the oldest bank in the
ing of two stories and two mezzanine floors, is
also
bank
•
of Baltimore, which already has many hand¬
bank structures.
ment of its
charge alleging the larceny of $3,000 of the bank's funds; he
released for a second time after furnishing bail of $7,500.
bail of
and later
7:,
7
lobby hasibeen almost doubled by the removal to the
was
was
,.7.;,ry
,
spent the past seven
while its
home is
new
increasing the floor
of the depositors; he .was released under
one
Its
but to the city
Jennings, formerly its receiving
the charge of having taken $700 from
on
The institution has
streets.
in temporary quarters
Several
growing out of the suspension of the institution
the 3rd inst. Augustus R.
teller,
7;/
banking quarters at the corner of Baltimore and St.
cent
August 14 have also taken place within the past few weeks;
on
\7;7/
South; established 1795) is now occupying its owp
straighten out the affairs of the institution.
held in jail in default of the
was
•
The National Bank of Baltimore
supplied the original bond, surrendered Smith, having
given
Smith's bail
••
.
^
become dissatisfied with the assistance which he had
in the efforts to
was
On the 9th inst. his bondsmen, who
nished for this charge.
had
was
died at
Fidelity Trust Co. of Philadelphia for many years,
failed Roseville Trust Co. of Newark, N. J., who was ar¬
Sept. 13
city have been abandoned.
this change in their plans will delay
the erection of the trust
Raymond E. Smith, former Secretary and Treasurer of the
on
of his company with the Cen¬
It
merger
tral National Bank of that
The in¬
issue of August 9,
the
77 7"'
raigned
77^
Co. of Lynn, Mass., that the nego¬
of the Security Trust
tiations looking to
of Oliner
concern
Spellman.
F.
;
1
just been announced by Harrison P. Burrill, Treas¬
It has
urer
Oliner, Isidore Oliner, Albert Abraham, John E.Goprz and
Benjamin
Sept..6.
Clinton Bank, at 67 Clinton St.,
business of the private
It is to have
in the man¬
in our
7'7 ,'7'77'v" /;:7
7';v7v
Company of New Jersey and the full list of those
has been authorized by the State Banking Depart¬
new
institution represents the incorporation
Brothers.
the
are
William C. Heppenheimer is President of the Trust
City.
The
the
of
by it
over
City and the Carteret Trust Co. of Jersey
Trust Co. of Jersey
issue of
this city,
The institutions taken
$277,977.
People's Safe Deposit & Trust Co. of Jersey City and the
latter's branch in the town of Union; the Bergen & Lafayette
agerial staff of the enlarged institution was printed
V.
7.
The establishment of the
ment.
1087
CHRONICLE
THE
OCT. 18 1913 .J
said:
$32,000 to the reorganization
"1 refuse to sign the agreement to subscribe
my
judgment of the advisable course to pursue at this time.
ment is not
definite
of opening is
Bank of Toledo,
The agree¬
President of the bank in,place of T.
bank, and the date
to the date of re-opening the
as
of vital importance to the continuance of business.
C.
"The agreement further provides for six men going on the note of $37,000,
to make up the sum of $200,000, and such signers have no security of being
;
new
"My
bank.
'
■
name was one
of the
names
In the agreement without my
agreed to sign the note.
,
.
•
advancement
to be added to the note, and
It was put
knowledge, that all of the board had
liquidation.
a
when the bank
a
are
I bought my stock at a higher
"I would like to make it very clear that
price than the market value, and I
closed, and the bank when I
was
clear condition, and the irregularities I have
elected director was not in
learned recently existed at
O. B.
and
director only eighteen months
was a
"I most
such
a
assuredly feel that I have
condition to exist in
connection with such
an
a
ago,
I
allowing
innocently be allowed
never
knew of the letter the Banking
asking for the resignation of Mr. Smith,
until the bank closed.
"I further refuse to shoulder responsibilities
of others w ho were connected
with the bank when it got into the condition that forced
fully covered
of the
w
its closing, and the
hich
now
being considered in which
calls for the
depositors' committees is interested
elimination of the present officers and directors, the
over
of all the assets to the
of the institution,
possibly
State bank.
♦
The merger
turning
depositors and the reorganization
as a
*
Wm. G. Lerchen has been
*
of the several trust companies into the Trust
appointed Manager of the bond
$17,666,779.
The capital of the company is $600,-^
000, it has a surplus fund of $550,000 and undivided profits
suc¬
II. M
organization.
♦
a
recent
meeting of the directors of the Michigan Trust
Co. of Grand Rapids,
George Hefferan, who has filled the
office of Secretary for so many years, was
appointed to the
newly-created office*of Fourth Vice-President, while Claude
Hamilton was'advanced from Assistant
tary.
Secretary to Secre¬
John H. Schouten and Emerson W. Bliss are new
Assistant Secretaries.
in
largest
handsome
Michigan,
new
offices
Sept. 20, when the en¬
larged institution reported deposits of $16,124,109 and total
assets of
Detroit, to
Tingle, who has returned to Chicago.
Mr.
Lerchen has been connected with the department since its
ceed
The
company
has
on
lately
which is
.
now one
possession
taken
of the
of its
the second floor of its building.
—♦—-
•
on
;
department of the First National Bank of
Company of New Jersey, at Hoboken, N. J., noted in our
issue of Sept. 6, Went into effect
The
3938 Lincoln Avenue.
was so success¬
up.
plan
a
"
At
Another rehabilitation
one
condition
It has
Cashier, and H. O. Anderson, Assistant Cashier.
institution's headquarters are at
subscription list does not include all the directors that officiated in the bank
at the time it came into the unfavorable
.
surplus of $20,000. Its officers
Conldin, President; T, G. Behrens, Vice-President
director. J
claim against somebody for
bank, and for me to so
institution.
Department sent three years
a
"7
■
a
—
the time of my purchase of stock and election as a
of
Bank of Chicago, projected
spring, opened for business on the 6th inst.
capital of $200,000 and
*
*
♦
♦
•'
♦—*,
last
7
♦
*
*
well merited, as he has given 21 years
The Lincoln'Trust & Savings
I most emphatically will not subscribe money to a plan that is
saving of the situation.
*
was
! ,>7
re-opening of a bank, according to the present plan, in my judg¬
ment, and in the opinion of bankers I have consulted, would mean certain
"The
not for
is promoted to the
service to the bank.
not
.
C. Stevens, resigned.
Cole, First Assistant Cashier,
W.
cashiership, and L. S. Ketcham, formerly discount clerk,
has been made an additional Assistant Cashier.
Mr. Carr's
in the event of a liquidation
reimbursed by the entire board of directors
of the
Carr,[who'Jias[been Cashier of the Second National
O., since 1905, has been elected First Vice-
W. C.
plan included in the agreement because said plan is absolutely contrary to
■
,
,
>
Adolphus Busch, St. Louis's best known citizen and philan¬
thropist/died
Prussia.
on
While
the 10th inst. at his foreign residence in
Mr.
Busch
was
not
generally known
to
1088
be
THE
banker, yet he
a
President of the South Side Bank
was
of St. Louis and also
United
States
were
His interests
activity outside of Missouri
was
March 31
throughout
set out in the
are
following:
ASSETS.
Trust Fund
Gold coin
in Texas and California.
$
Total trust fund
1
appointment of S. B. Lynd as Vice-President and
Percy H. Johnston as Cashier of the institution.
Mr. Lynd
Silver certiticates
Silver dollar?
has been associated with the bank for
thirty years, serving
for the past eight years as Cashier.
Mr. Johnston is well
known to the banking fraternity of the
Silver
11,429,278
2,216,773
2,029,036
6,854,562
__
bullion
United States notes..__
Treasury notes of 1890..
country, having been
National Bank Examiner at large since 1910 and has also
been Clearing-House Examiner since
National
bank notes.
July 1911.
Minor
In
.
75,8S0,692 39
3,004,623 92
warrants
39
Outst'g Treas. checks
P. O. Dept. balancesPostal savings bals...
00
Judicial
00
ofiicers
8,6S9,396 17
10,637,534 26
1,497,526 19
.
bal¬
ances, Ac.
Nat.
390 47
coin...
583,778,169 0(4
Treasury offices— "
Disburs. officers' bals.
Outstanding
00
4,250 00
49,353,595 67
17",829,718 43
.
_
Fractional silver coin...
Fractional currency....
2,607,000 00
Total trust liabilities. 1,
Gen'l Fund Liabilities—
285,954 10
43,697,046 29
61,178,010 00
,
Gold coin and bullion...
Gold certificates
1,091,006,169 00
490,165,000 0®
Silver certificates
Treasury notes of 1890..
,583,778,169 00
Gen'I Fund Holdings—
Cert checks on banks..
the
Trust Fund LiabilUiesGold certiiicates
1,091,006,169 00
490,165,000 00
1890...
2,607,000 00
Silver dollars of
Several important changes have recently occurred in the
official staff of the Citizens' National Bank of Louisville
LIABILITIES.
Holdings—
Silver dollars
in
xcvii
The
his greatest
although
enormous,
[Vol.
TREASURY CASH AND DEMAND LIABILITIES.—
cash holdings of the Government as the
items stood
director of the Third National Bank
a
and the St. Louis Union Trust Co.
the
CHRONICLE
6,948,705 77
bank notes:'Re¬
demption fund....
Nat. bank 5% fund..
.
1,652,512 95
Assets
of
failed
20,593,576 00
25,236,457 48
na-
'
tional
Tot. in Sub-Treas'ies.
In Nat. Bk, Depositaries:
DEBT STATEMENT OF SEPT. 30 1913.
;; .'
Cred.
The
following statements of the public debt and Treasury
holdings of the United States are made up from official
figures issued Sept. 30 1913.
For statement of Aug. 31 1913,
see issue
of Sept. 13 1913, page 706; that of Sept.. 30 1912,
issue of Oct. 26 1912,
page
Amount
Payable.
Issued.
Title of Loan—
Cred.U.S.dis.
$
-
.
2s, Consols of 1930
ofiicers
SEPT.
30
10,691,528 68
78,259,089 10
6,947,909 70
Total
85,206,998 80
_____
170,269,349 64
—
Checks
cleared.-..—
1,297,505 15
3,328,066 02
3,693 59
7,085,615 19
(ecxhgs.,&c.)
Subtract:
Total in Philippines.
DEBT
*Interest
: ■■■
'
Total in banks.
In Treas. Philippine Isl'ds:
Credit Treas. U. 8__..
i096.
INTEREST-BEARING
"Y.YY-■
U.S.dis.officers
banks...
Coups. & int. checks.
Miscell.
Credit Troas. of U. S_
cash
see
196,531,127 30
not
18,500,098 20
——.
151,769,251 44
In Nat. Bk. Depos.—
Judicial officers' bal¬
4,625,571 17
ances, &c
6,947,909 70
....
Outstanding warrants
1913.
Amount
Outstanding
Registered.
Coupon.
Total.
S
YY
S
S
Total
In
Treas.
■;y 419,891 60
In banks
7,367,801 30
Philippines—
Disburs. officers' bals.
Q.-J. 646,250,150 642,723,150
3,527,000 646,250,150
3s, Loan of 1908-18
Q.-F. *198,792,660
45,548,900 18,396,560
63,945,460
4s, Loan of 1925
.Q.-F. *162,315,400 101,073,600 17,416,300 118,489,900
2s, Pan. Canal Loan 1906.Q.-F.
54,631,980
54,609,080
' 22,900
54,631,980
2s, Pan. Canal Loan 1908.Q.-F.
30,000,000
29,678,920
321,080
30,000,000
3s, Pan. Canal Loan 1911.Q.-S.
50,000,000
39,476,300 10,523,700
50,000,000
2^8 .Post .Sav.bds.'ll-'13_J.-J.
2,389,120
2,002,720
386,400
2,389,120
2^8, Post. Sav. bds. 1913.J.^J.
1,116,880
963,720
153,160
1,116,880
Outstanding
3,328,066 02
481,965 49
warrants
—
Aggregate lnt.-bearing debt..1,145,496,190 916,076,390
50,747,100 966,823,490
*
Of this original amount
Issued, 5132,449,900 have been refunded into the
'
2%
consols of 1930 and
$2,397,300 have been purchased for
the
celed.
Of this original amount
issued,
and canceled.
x
fund
Y
13,050 00
693,300 00
13,420 00
903,680 26
'
273,416,613 02
-..v
■,
Res've Fund:'
VvY'Y
•
Gold&bull. 150,000,000 00
.2,020,141,866 27
—
SI,651,100 26
Grand total
2,020,141,866 27
.
—
Sept. 30.
.$346,681,016 00
$346,681,016 00
53,152 50
53,152 50
20,593,576 00
.
21,720,031 00
,
as
destroyed..
DIVIDENDS FOR NINE MONTHS
1913.
*
Thirty-two cotton-manufacturing corporations located in
Fall River wbich furnish reports of
6,854,15490
6,853,839 90
$375,308,354 40
operations have declared
dividends during the third quarter of the year;
The aggregate of the
a year ago.
distributed has been $352,675, or an average of
116,
or an average
of 1.11%.
$309,617,
1.12%.
or
1.64%; in 1909
was
corre¬
amount
11.21%
In 1912 the amount paid by thirty mills
was
$374,181,584 40
The total
paid out is moderately greater than for the
capital.
Aug. 31.
National bank notes,
redemption fund
Fractional currency, less
$8,375,934 estimated
MILL
sponding periods
—-.51,652,120 26
Y
RIVER
amount
which interest has ceased since
....
FALL
903,680 26
DEBT BEARING NO INTEREST.
or
;
23,650 00
13,440 00
subsequentto Jan. 1 1861...
i
reserve
Available...123,416,613 02
.-and
Y"'
•..'
Reserve Fund Holdings—
Gold coin and bullion..
150,000,000 00
OF
Funded loan of 1907, matured
July 2 1907
Refunding certificates, matured July 1 1907--.-...-.:
Old debt matured at various dates
prior to Jan. 1 1861
and other items of debt matured at
various dates
United States notes..
Old demand notes..
cash
Made up of—
$4,000 00
23,650 00
13,050 00
694,300 00
—.....
lost
Total
30.
$4,000 00
—u.
maturity
Y YSept.
Aug. 31.
2%, called May 18
1900, interest ceased Aug. 18 1900..
Funded loan of 1891, ihatured
Sept. 2 1918...
Loan of 1904, matured Feb. 2 1904.
on
3,810,03151
162,947,058 25
..
■
Funded loan of 1891, continued at
Aggregate debt
—
can¬
QN WHICH INTEREST HAS CEASED SINCE MATURITY.
:
.
Cash balance and Reserve—
-
Grand total..
'
—
Total llabil. agst. cash—
$43,825,500 have been purchased for the sinking
,
DEBT
sinking fund and
Total.
on
the
$308,-
was
In 1911 the amount paid out
In 1910
the average rate
1.61% and in 1908
was
1.50%.
was
"
Aggregate debt bearing
>YY'YY
no
interest
i
Sept. 30 1913.
«
V
•
•
.
Interest-bearing debt!
-: --
$966,823,490 00
1.651.10Q 26
' 374,181,584 40
Debt interest ceased
Debt bearing no interest...
Aug-. 31 1913.
' "
$966,823,490 00
Total gross debt
..$1,342,656,174 66 $1,343,783,964-66
Cash balance in
Treasury *_ g294,010,189 02
c298,931,149 90
—$1,127,790 00
—4,920,960 88
Includes $150,000,000
+
reserve fund.
$3;793",170~88
a Under the new form
of statement adopted
by the U. S. Treasury on July 1,
the item "National bank notes
redemption fund" is not only included in the "Debt
bearing
no
interest," but
appears as a
current
liability in the Treasury statement
"Cash assets and liabilities."
In arriving at the total net
debt, therefore, and
avoid duplication, the amount is
eliminated as a current liability,
increasing
to that extent the cash balance in the
Treasury.
oi
to
The foregoing figures show a
gross debt on Sept. 30 of
$1,342,656,174 66 and a net debt (gross debt less net cash
in the Treasury) of
$1,048,645,985 64.
TREASURY CURRENCY
HOLDINGS.—The following
compilation, based on official Government statements, shows
the currency
holdings of the Treasury at the beginning of
business
on
the first of
ber, 1913'.
July, August, September and Octo¬
■>./
Y
1
.
-
Holdings In Sub-Treasuries—
$
••
•
$
Net gold coin and
bullion....251,278,513 266,417,431
Net silver coin and bullion......
Net United States
Treasury notes
Net legal-tender notes
.*.
Net national bank notes
Net fractional silver
42,895,985
20,765,511
2,068,946
Minor coin, &c—
Total cash In
25,406,960
3,219
8,757,310
.
25,022,760
4,361
8,057,253
48,402,190
20,174,519
2,887,420
To credit Treasurer of U. S._.
To credit
$
1
269,854,052 254,875,056
23,469,801
15,675,087
-3,195
7,436,157
49,789,651
19,493,192
2,066,863
4 250
6,854,562
49.353,596
17,829,718
1,938,858
Cash in Philippine Islands.
Cash in transit or checks
4,223,613
64,369,295
4,828,638
54,400,654
6,346,621
78,259,089
6,947,910
60,747,275
4,886,001
85,206,999
4,625,571
not
banks, Sub-Treas.308,149,356 290,163,867
287,746,187 286,363 697
143,659,715 137,109,514 158,815,037
142,353,508
.l.....
.164,489,641 153,054,353 148,931,150 144,010 189
22,092,806
20,790,734
21,720,031
20,593,576
National bank redemption fund.
Available cash balance
142,396,835 132,263,619 127,211,119 123,416,613
Chiefly "disbursing officers' balances."
x Includes
$2,029,036 39 silver
buliion
and $1,938,857 52 minor coin, &c,. not included in statement
"Stock of money."
•
+
W
Y
•
-
Davol Mill+Y——
Flint Mills..
Granite
Mills...
—
Hargraves Mills—.
King Philip Mills..
Laurel Lake Mills—....
Lincoln Mfg. Co
^
Luther Mfg. Co—......
— —
—
Mechanics'
Mills.
—
Merchants, Mfg. Co—
Narragansett Mills—.;—
—
Osborn Mills.
Parker
—
Mills...
r
......
Pilgrim Mills..,—<
Pocasset Mfg. Co...
Richard Borden Mfg. Co.
Mfg.* Co
Seaconnet Mfg. Co:;
Shove Mills...—„ —
Stafford Mills.:
Stevens Mfg. Co
Tecumseh
...
—
Troy Cot.& Wool. Mfg.Co
Union Cotton Mfg. Co...
Wampanoag Mills
...
Weetamoe Mills.
Total
No di vidend.
No dl vidend.
1
500,000
1,160,000
1,000,000
'
1
—
.
c<
■
"
.
of
On
15,000
2
17,400
10,000
1A
1A
1A
10,000
1A
1
8,000
18,750
7,500
VA
2
1
18,000
3,775
IA
1
No di vidend.
809,000
1,500,000
600,000
IA
1,250,000
350,000
IA
750,000
1 <200,000
1
1
1
400,000
750,000
800,000
.
1A
11,250
Nodi vidend.
1,050,000
1,200,000
1,000,000
blA
1A
IA
,-6,250
18,000
15,000
2
1,200,000
600,000
550,000
24,000
i
i
6,000
5,500
10,000
;
1
18,750
•
j
•
IA
IA
10,500
9,000
1
7,500
•
12,000
1
-
4,000
IA
11,250
No di vidend.
No di vidend.
12.000
15,000
IA
18,000
1
?
:
10,000
1A
IA
11,250
2
6,000
18,000
2
7,500
7,500
1
1.21
$100,000 preferred stock.
$700,000.
352,675
& On $350,000
6",000
+ 6,000
5,500
r.
300.000
29,356,670
+ 6,000
+
No di vidend.
10,500
1
+ 5.250
1
LA
11,250
IA
+ 8,250
5,250
1
1A
IA
+ 5,800
22,500
cl A
l A
IA
:
7,500
11,600
•10,000
No dl vidend.
750,000
750,000
+ 1,259
8,000
1
700,000
1,200,000
+ 6,000
2,516
'
1A
1A
22,500
9,000
18,750
,5,250
'7,500
12,000
4,000
IA
12,000
1
•
1A
500,000
—
10,000
15,000
,
IA
1,000,000
—
Mills
No di vidend.
No di vidend.
1,250,000
———
8,000
* 1,500
10,500
6,000
1A
18,000
7,500
IA
7,500
1.11
preferred
308,116
stock.
'
+ 44,559
cOn
capita
'
Combining the foregoing results with those of the half-year,
we have the following exhibit for the nine months.
It is
seen
that
on
a
capitalization of $29,356,670, the mills have
paid out in dividends $1,046,775 in the nine months of the
23,000,000
.
Deduct current liabilities.a
..
Conahlcut Mills..
(+)
Dec.
(—).
J
1
alA
No (11 vidend.
1,000,000
1,000,000
1,200,000
251,670
400,000
Cornell Mills.
a
__
79,749,299
cleared
a
*
Chace Mills
127
220,965,934 222,112,911 196,531,127
dusbursing officers
Total
Balance
Border City Mfg. Co
Bourne Mills..
$
8,000
1,500
No di vtdend.
al^
150,000,000 150,000,000 150,000,000
150,000,000
Cash balance in
Sub-Treasuries..201,176,444
Cash in national banks—
Net oash in
S
Sub-Treasuries..351,176,444 370,965,934*372,112,911 346,531
Less gold reserve fund.
Barnaby Mfg. Co...——-
Davis Mills--
Inc.
% i Amount.
1
800,000
300,000
450,000
495,000
350,000
....
Arkwright Mills
Sagamore
July 1 1913. Aug. 1 1913. Sept. 1 1913. Ocf. 1 1913.
-
Mills—
Barnard Mfg. Co..
$1,048,645,985 64 $1,044,852,814 76
Amount.
S
Ancona
Dividends 1912.
or
%
American Linen Co
1,652,120 26
375,308,354 40
Total net debt—
Dividends 1913.
Capital.
Increase (+) o
Decreaser (—).
*—$1,020 00
—1,126,770 00
*
Third Quarter
1913 and 1912.
>'■'
YRECAPITULATION.
J
"
year, or an average of 3.57%, against 2.98% in
1912, 3.94% in 1911, 5.23% in 1910, 5.85% in 1909 (includ¬
ing a large extra dividend by the Union Cotton Mfg. Co.),
present
5.42% in 1908, 7.27% in 1907, 4.87% in 1906, 2.13% in
1905, 3.06% in 1904, 4.36% in 1903 and 4.59% in the like
period of 1902.
<
''
Y.Y
,
"
'
*
Oct. 18
or
Mills
_
Amount.
Dec. (—).
$
$
$
800,000
2
300,000
American Linen Co
%
Amount.
4K
1
16,000
4,500
+ 8,000
8,000
4,500
434
Arkwright Mills
450.000
No di vidend.
No dl vidend.
Barnard Mlg. Co
495,000
No di videnci.
No dl vidend.
Barnaby Mfg. Co
Border City Mig. Co
350,000
No di vidend.
3
30,000
No di Vidend.
1,000,000
1,000,000
1,200,000
4H
Conanicut Mills.
251,670
434
Cornell Mills.
400,000
6
4)4
4 34
1,160,000
434
1,000,000
334
....
Davis Mills.............
Mills
Granite
Hargraves Mills
King Pbilip Mills
22.500
23,200
+ 29,000
3
30,000
+ 5,000
3
6
67,500
67,500
21,000
31,500
15,750
3
24,000
12,000
33,750
350,000
434
750,000
3
48,000
15,750
22,500
1,200,000
3
36,000
2
3
12,000
3
600,000
Lake Mills
Lincoln
Mfg.
Co
400,000
Narragansett Mills......
Osborn Mills
Parker Mills...
1,050,000
1,200,000
434
Richard Borden Mfg. Co.
1,000,000
434
Sagamore Mfg. Co
1,200,000
6
600,000
3
550,000
3
1,000,000
3
_
700,000
Stafford Mills.
Stevens Mfg.
Co
Mills
Tecum sell
6
+ 15,750
2
24,000
+ 30,000
4V2
434
45,000
54,000
2
11.000
1
10,000
31,500
434
434
6
18.000
2
54,000
15,000
+ 7,500
434
22.500
3
15,000
+ 7,500
on
2.98
1
826,250 +220,525
$1,250,000.
IMPORTS AND EXPORTS OF GOLD AND
SILVER
AT
SAN FRANCISCO.
The Collector of Customs at San Francisco has furnished
this week with the details of the imports and exports of
gold and silver through that port for the month of August,
and we give them below in conjunction with the figures pre¬
ceding, thus completing the results for the eight months pf
us
the calendar year
are
AND
SILVER AT SAN FRANCISCO.
,
strike
depressing effect upon the stock markets.
condition of things
well acquainted with the
surprised rather that the Dublin strike has
been put off so long than that it has taken place at last.
There is no European town of the same size situated in a
country that, upon the whole, is very prosperous where the
condition of the working classes is so bad as Dublin.
The
rates of pay are such as to make it impossible for a man to
bring up a family at all decently, and the conditions of work
are unquestionably not what they ought to be.
To the wellinformed, then, there is nothing surprising in the struggle
now going on.
This does not mean either that the employers
are
hard-hearted or that the employed are unreasonable.
Those are points which can be determined only by a full and
painstaking inquiry.
But it is very clear that in the interest
of both parties a reorganization of industry in Ireland is
eminently to be desired.
The India Council offered for tender on Wednesday 120 lacs
are
telegraphic transfers, and the applications
904% lacs at prices ranging from Is. 4 l-16d.
and
its bills
amounted to
IMPORTS OF GOLD
.
also exercising a
of
1913.
lend.
to
in Ireland
434
1700,000 and 3%
care
The strike in Dubl'n and the fear of a great cotton
Those who
22,500
1,046,775
will
are
54,000
3.57
but that early then it will bring out a loan for a
francs, or 40 millions sterling.
The Imperial
are expected to bring out new
issues likewise early in the new year.
What the amounts
will be is not yet known.
But nobody doubts that they will
be large.
Respecting Austria-Hungary, Berlin will have to
supply Vienna to meet her most pressing needs, but at pres¬
ent it is very problematical whether any other countries
of
Prussian Governments
+20,000
33,750
now
year;
+ 18,000
+ 5,500
3
29,350.670
is
as
and
+18,666
No di vidend.
500,000
Total
on
+ 12,000
434
1,200,000
Wampanoag Mills
Weetamoe Mills
134%
+ 16,500
750,000
Troy Cot.& Wool.Mfg.Co.
Union Cotton Mfg. Co
a
434
300,000
Shove Mills..........—.
434
750,000
Mills...
Seaconnet
No di vidend.
45,000
72,000
18,000
16,500
30,000
31,500
33,750
18,000
dear
milliard
+ 6,000
No di vidend.
15,750
54,000
434
Pocasset Mfg. Co
Pilgrim Mills
434'
434
33,750
No dl vidend.
750,000
800,000
—
27,000
as
new
22,500
1,250.000
Luther Mfg. Co.....
Mechanics' Mills.—.....
Merchants' Mfg. Co
Laurel
+ 3,775
56,250
434
334
434
434
434
434
G434
1,500,000
+ 18,000
No di vidend.
No di vidend.
800,000
...
30,000
2
52,200
35,000
Chace Mills...
36,000
7,550
24,000
434
434
22,500
Flint Mills
—
45,000
3
56,250
Davol Mills..
1,250,000
500,000
3
434
45,000
54,000
11,325
24,000
Bourne Mills
Should that happen, money will not be
apprehended.
Indeed, at the present mo¬
ment the apprehensions seem to be quite exaggerated.
It
is rash to venture upon prediction.
But unless great un¬
wisdom is shown, it ought not to be necessary to put up the
rate of the Bank of England to 6%.
There is another cause for the fear that money may become
scarce and dear, and it is the knowledge that both France and
Germany must borrow before long and that Austria and
Hungary must follow suit if they can.
There is no doubt,
of course, that France and Germany can get the money.
It is believed in Paris, however, that the French Govern¬
ment has decided not to issue a great national loan until the
fuse to subscribe.
Inc. ( + )
Capital.
%
Ancona
Dividends 1912.
Dividends 1913.
Nine Months.
1913 and 1912.
1089
CHRONICLE
THE
1913.]
Applicants for bills at Is. 4 3-32d.
4%d. per rupee wereallotted 73%.
' '
; /
'
The following returns show the position of the Bank of
England, the Bank rate of discount, the price of consols,
&c:, as compared with the last four years:
4%d.
to Is.
per rupee.
hnd for telegraphic transfers at Is.
''
Silver.
Gold.
Coin.
1913.
$
'
$
■
Bullion.
Total.
$
$
$
35,647
104,622
'
35,647
136,784
177,981
194,751
"2", 600
535
February
29,784
174,873
194,216
499,773
504,970
"
231,109
261,378
730,882
766,348
2,600
128,227
26,199
346,852
118,286
481,369
394,660
120,056
2,70(5
"1,383,697, 3,002,831
136,317
1,499,647
1,635,964
2,135,915
259,807
583,836
843,643
107,000
3,108
...
April
May
Coin.
Total.
Bullion.
$
January..
March
;
.
MotUhs.
107,222
59,781
59,781
225,166
~
246,696
368,652
374,923
368,842
356,344
1912.
8.
Oct.
•:
.
£
1910.
Oct. 12.
£ <
1911.
Oct. 10.
£
Oct. 11.
1913.
'
•
227,766
£
m
-
.
1909.
Oct. 13.
£
* *
455,170
'
July
47,808
August.......
770
Total 8 mos.
1,619,134
8 mos. 1912.. j
587,782
1,548,133
190
353,644
105,439
105,439
29,231,625
29,170,925
29,180,175
29,315,025
deposits-.-.
5,993,166
Other deposits.-..
41,214,915
Gov't securities....
14,488,105
Other securities
...
June
25,523,489
10,357,468
45,298,171
13,338,084
32,865,496
27,192,560
37,913,485
45,987,621
14,596,034
28,296,644
27,227,928
37,958,103
5,573,644
46,444,748
17,711,788
29,053,304
22,949,907
33,814,932
Circulation..—
Public
—
.
Reserve,notes&coin 24,930,706
Coin&bull.,both dep.35,712,331
Prop, reserve to iia-
OF
GOLD
AND
SILVER
FROM
SAN
FRANCISCO.
■
Silver.
•
;
•
•
44 1-16
*4
51 15-16
47
4
4
Consols, 2)4 p. C—_
72%
73%
77%
80 3-16
Silver—
28 Hd.
'
29d. 24^d.
25^d.
Clear .-house returns326,647,1)00 306,792,000 252,376,000 242,499,000
Bank rate..
—
Gold.
24,353,350
33,778,750
•
52,79'
bilities— -p; c.
EXPORTS
27,875,400
6,430,990 /6,343,633
45,499,293
14,980,568
30,226,449
....
—
48 13-16"
4
5
p. c.
82%
23 9-16d.
.
.
232,474,000
Months.
Coin.
v'
1913.
Bullion.
Total.
Coin.
$
$
%
$'
•
January..
575
February.. i._
Bullion.
•$
1,600
Total.
S
1,426,975
March
1,080,259
984,779
""600
,""600
984,779
806,711
""""43
1,504,895
921,127
1,233,382
1,121,640
1*233,382
1,121,640
May..
June
"
l",390
July
1,390
""800
August.
October 11.
•
800
*
.
The rates for money
806,711
mos.
8 mos. 1912...
1,965
9,079,768
6,008
4,043
5,018,563
5,032,053
7,150
6,924,956
6,932,106
4%
3%
4%
4%
_
r
4%
,
5@5%
5 @5%
W
'■
call
3%
.3 H
3
...1
-v.
H
-3
3%
8%
chief Continental cities have been as
in the
summer.
But
now
that
new
issues have begun
large scale, the investors are holding aloof once
more, and the underwriters are saddled with the greater
part of issue after issue.
The same thing is happening in
Paris.
Two good results are likely to follow from this.
One is that the less scrupulous loan-mongers both in London
and in Paris who secretly supplied belligerents with money
are now beipg taught a lesson, and it is not likely that either
on a
Turkey or Greece will be afforded the
A
to
means
of fighting.
second result is that the issuing houses will perforce .have
stop bringing out new issues if the public continues to re¬
3%
market rates at the
follows:
- *;
y
•
-
to
3
—
3H
Sept.. 27.
Oct. 4.
again
-
The bank rates of discount and open
Rates
but all
over Europe,
continues very inactive.
Partly this is due
to the fear that the Turkish army, encouraged by the sub¬
mission of Bulgaria, is likely to force the Government into
hostilities^ with Greece; and partly to the apprehension that
money will become both scarce and dear.
The latter ap¬
prehension arises out of the large number of new loans that
are being brought out, both in London and Paris.
In Lon¬
don, the investing public six weeks or two months ago had
been encouraged by the suspension of new issues to take up
a
large part of the issues which it refused to subscribe
4%
4%@5
By discount houses—
[From Our Own Correspondent.]
London, Saturday, Oct, 11 1913.
4%
■
•
Interest,allowed for deposits-
7 to 14 days
Business in the stock markets, not only in London
4%@4 5-16
Jti@4 7-16
4H v.4%
4^@5
-
5®5^
5@5%
Trade bills—3 months
4
4X
-
'
4%
,
3!Hi@3 11-16
4
m
4%
V
Sept. 19.
Sept. 26.
,
4%
4H
.
—4 months.
—6 months..^
At
fpnuetaryl ©o mux cvrial iTxiglisTtftexus
Oct. 3.
4%
Ry Joint-stock banks
/ 13,490
-
5
—3 months
921,127
9,079,768
:
Oct. 10.
Open market rates—
Bank bills—60 days......
—4 months.
Total 8
!
\
have been as follows:
Bank of England rate.
1,504,895
""43
April
*
1,426,975
1,080,259
1,575
1.600
1,000
■
Open
Bank
Open
Batik
Market.
Rate.
Market.
Rale.
Market.
!
4
.....
4
3%
........
6
6
Frankfort
6
A%
4%.
4%
Amsterdam
5
4 15-16
5
5
4%
6
5%
Berlin
Hamburg ......
Brussels
•.
...
Vienna
6
.
6
3%
5%
5^
5%
6
5H
;
,
6
'
..
.
6
6
.
4
5%
-3%
5
Paris
Bank
Open
Rale.
Interest at—
Sept.
Sept. 20.
Bank
of
4 15-16
4%
5 15-16
6
5
:
■
' 4 15-16
5
4%
5%
6
13.
.
Open
Rate.
Market
4
3 H
6
5%
6
5H
6
:
5
5
4)4
'
4 H
5
6
5H
""
St.
5%
4%
Petersburg
Madrid
Copenhagen
__
Messrs.
Oct.
6
4%
5%
414
5)4
nom.
6
nom.
Pixley & Abell write
A14
5)4
as
5)4
4)4
6
nom.
5)4
4)4
.
6
4)4
4)4
5)4
nom.
h
—
follows under date of
9:
GOLD.—Including £695,000 from South Africa, this week's arrivals amount to
£920,000.
There has been a small inquiry from the Continent, while India has
taken £140,000.
It Is expected that the Bank of England will secure the balance.
Next week £757,000 is due from South Africa.
At the Bank £152,000 has been re¬
ceived in bars and £1,195,000 in sovereigns has been withdrawn for Egypt.
For the
week:
Arrivals—South Africa,
New Zealand,
£695,000: West Africa, £30,000; India, £120,000;
£35,000; South America, £25,000; Australia, £15,000; total, £920,000.
Shipments—Bombay, £143,000; Colombo, £500; total, £143,500.
For the month
of September: Arrivals—Germany, £22,000; France, £25,000; Switzerland, £3,000;
Egypt, £5,000; South America, £787,000; South Africa, £3,521,000; India,
£192,000.
Shipments—Russia, £120,000; Germany," £1,814,000; France, £1,170,000; Switzer¬
land, £70,000; Turkey, £150,000; Egypt, £3,470,000; India, £883,000. •
SILVER.—The market, which has.been a quiet and featureless one during the
past week, closes rather lower at 28Hd. for spot and 28 1-16d. for forward.
These
quotations are lower than those of the 2d inst. by %d. for spot and 5-16d. for for¬
ward.
China was & seller early in the week, while the Indian bazaars have shown
little interest in this market and have sent few orders.
At the close the tone is
Another £1,000,000 has been shipped to India this week, making;
£3,000,000 in all.
Two shipments of £250,000 each from Shanghai, of which the
quietly steady.
1090
THE
CHRONICLE
second has been made this
week, may also be destined for the Indian mints.
Should
this be so the Government has
already secured £3,500,000.
No fresh currency
figures have been received from India since the
2d Inst.
After the
departure of
Friday's mall to India, stocks remaining in London will be about
£1,700,000.
In
Bombay the quotation is Rs. 71 7-16 per 100 tolahs for the October settlement.
For the week:
Arrivals—New York, £226,000; New
Zealand, £5,000; total, £231,000.
total, £999,000.
For the month of September:
Arrivals—Germany, £12,000; France, £7,000; U.S. A .,
Shipments—Bombay, £992,000; Calcutta, £5,000; Colombo, £2,000;
£992,000.
Shipments—Russia, £30,000;
China, £70,000; India, £451,000.
Oct.
9.
Oct.
London Standard.
s,
d.
Bar gold, fine, oz.._.. 77
9
reported
are
2.
77
£30,000;
France,
GOVERNMENT REVENUE AND EXPENDITURES.
9
Bar
9.
Oct.
London Standard.
silver, fine,
the three months of the fiscal
years 1913 and
Revenue—
Ordinary
28 5-16
28 5-16
following shows the imports of cereal produce into
the United Kingdom
during the season to date, compared
"
'
seasons:
^
IMPORTS.
1913-14.
v..
.
.
Imports Of wheat
cwt.
3,610,400
1,068,200
378,982
454,760"
7,012,200
1,315,900
Oats.
Peas
1912-13.
9,559,200
Barley
______
Beans
Indian corn..
Flour.....
1911-12.
11,970,400
3,260,800
1,692,800
452,591
242,000
6,162,800
-778,800
.
1910-11.
9,723,300
4,230,000
10,591,700
2,471,000
979,400
358,747
161,330
2,400,400
1,328,600
1,288,400
321,375
134,460
5,749,000
929,700
Supplies available for consumption (exclusive of stock
September 1:
r:.-/■
"• :1 .'
1913-14.
Wheat imports...
...cwt.
Imports of flour....
Sales of horn# grown
.....
.....13,951,593
Average price wheat, week
Average price, seasoa...
1911-12.
11,970,400
778,800
2,129,245
9,559,200
1,315,900
3,076,493
L_
Total
1912-13.
1,328,600
4,764,682
14,878,445
10,591,700
929,700
2,998,355
14,519,755
31s.
8d.
32s. 7d.
30s.
31s. 7d.
32s. lOd.
32s. 3d.
30s. 8d
This week.
Last
1,535,000
175,000
1,635,000
FI®ur, equal te
Male# J
week.
1912.
'
1,595,000
210,000
1,520,000
.25,619,284 43 24,422,020 88
83,340 35
121,125 42
3,576,278 02
3,664,281 93
"
:
Id.
1911.
2,190,000
2,135,000
115,000
1,350,000
1,809,850 24
12,810,244 23
175,423,891 96
,
Excl. Public Bldgs..
Public Buildings*...
3,511,392 79
182,091 94
3,843,147 22
1,700,487 08
War Department—»
148,397 61
152,162 18
8,423 59
11,902,046 92
37,180,144
618,927
15,380,880
2,281,146
10,810,285 39 13,601,061 12
223,522 60
217,409 24
Rivers and Harbors. 5,146,195 61
4,769,125 94
Department of Justice.
488,166 60
1,051,778 26
Post Office Dept., not
Civilian..
incl. "Postal Service"
Postal deficiencies..
3,364,970 37
165,804 12
1,466,120 87
11,097,449 67
2,996,499 34
Military.....
Naval
82
37,114,251 5&
68
584,041 51
11,519,897 36
2,510,301 25
5,819,724 31
14
30
622,655 57
452,232 68
2,410,371 19
34,052,683 47
212,940 28
32,822,793 37
.
11,436,570 99 10,692,609 38
67,166 99
Civilian
63,977 24
Dept.,
excl.
"Pens'ns" A,Tnd'ns" 1,754,878 34
54
97
Interior
14,398,466
Indians
1,435,876
Dept. of Agriculture.. 1,765,482
Dept. of Commerce...
913,147
Dept. of Labor
35Q.123
Independent offices and
1,870,123
12,833,893
1,528,326
13
1,396,395
621 1,522,333
48
15
Total
pay
drawn
190,000
10
18
47
202,011 92
24
8,359,434
40,574,626
3,001,258
5,221,246
3,718,130
23
77
77
J3,011,277 221
\ 945,919 79/
203,909 34
497,940 97
470,406 16
10
61
18
10
61
727,331 77
4,479,252 21
5,721,462 99
773,662 26
3,976,028 ©6
5,733,065 24
.....56,053,634 71 57,979,206 44 189,945,688 38
181,692,018 73-
1,321,559 38
* 515,109 40
warrants
•
,
Less unexpended bal-ances
7,884,604
46,115,334
16,115,334
5,144,815
6,610,974
54/
commissions191,380 65
District of Columbia..
Int. on the public debt.
260,000
English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at
London,
as
reported by cable, have been as follows the past week:
,
74,986,835 35
77,532,580 98
2,225,366 38
12,611,069 74
Total
Pensions.....
15,816,582
$
1
■
Navy Department—
The following shows the quantities of
wheat, flour and
naize afloat to the United Kingdom:
__qrs.
•
85,816,962 •»
cash
receipts..56,073,397 05 55,682,556 08 177,905,118 33
Pay Warrants Drawn—
"
' i:
Legislative establishm't 1,057,349 18
1,110,425 79
3,399,655 94
Executive Office
36,807 47
53,857 14
127,251 51
State Department
302,853 60
388,223 78
1,334,480 67
Treasury Department—
on
31s. 3d.
Whear
■
3 Mos. 1912.
$
85,536,101 23
Corporation tax....
Miscellaneous
1910-11.
9,723,300
$
1912.
3 Mos. 1913.
26,794,494 25 27,475,127 85
.
30 9-16
The
Sept. 1912.
$
-U:-,—
Internal
d.
28 %
oz
2i
Oct.
d.
2-mo. delivery, oz.28 1-16
Cake silver, oz.______30%
Five weeks—
readers to-day the details of
our
Government receipts and disbursements for
September and
"
with previous
enabled to place before
are
Current Receipts—
Customs
follows:
as
SILVER.
d.
s.
.
£49,000;
xcvii.
—Through the courtesy of the Secretary of the Treasury, w»
Sept. 1913.
The quotations for bullion
GOLD.
Germany,
[Vol.
'
.
-
.
repaid
2,039,093 89
1,462,166 15
1,697,761 04
1,418,074 56
Tota 1 pay warrants
,
London,
,v
Week ending Oct. 17.
Silver,
Sat.
Mon.
d.
per oz......
28%
72%
d For account.
.....72%
d French Rentes (In Paris) fr.
88.22%
Amalgamated Copper Co..;. 73%
Am. Smelt. & Refining
65%
d Consols,
2%
& Anaconda Mining Co.....
96%
Preferred
Canadian
Pacifie....
Chesapeake A Ohio
.....
Chicago Great Western
104%
Illinois Central
112
Louisville A Nashville.
Missouri
128%
137
Kaniaf A T#xaa...
Preferred...
....
20%
58
137
20%
*
•
20%
43
13
12
N.'Y. Central A Hud. Riv_.
98%
98
N.Y. Ontario A Weatern...
29
Norfolk
A
•
•
Paeifie
111%'
57
Second preferred
.•...
47,
1'2
106
28
109%
57%
-
13%
87%
....
22
Wabash
-■....
'
Preferred
Extended
•
Prlee
4a
per
154%
|■'
85
56%
56%
..
56%
108%
4%
10%
4
4
56%
108
108%
4
3%
9%
50%
-
10
9%
50
» £ sterling,
f
77%
154%
85
50
share.
flat prices.
c81%
....
22%
77%
153%
84%
51
■
Legal
»
Tenders.
30 1913...... 741,846,850
30 1913
June
May
April
Mar.
Feb.
56%
81%
42
Sept.
Aug.
July
108%
57
Circulation Afloat Under—
Bonds.
Tenders.
Total.
$
87
82%
42%
22
155%
$
31 1913..
737,427.800
30 1913
31 1913
734,448,060
732,688,750
28 1913
731,943,480
22,032,083
22,659,331
22,871,039
20,550,148
21,193,423
21,670,491
22,179.543
31 1913...... 734,273,150
Dec.
46%
13%
20,563,626
21,690,081
20,790,783
22,092,856
21,539,251
742,081,800
31 1913...... 741,631,750
30 1913..740,529,250
Jan.
31 1912
-
Nov.
Oct.
732,544,640
30 1912.
731,366,680
31 1912...... 730.257,280
738,467,068
740,029,948
738,503*408
737,065 050
733,754-615
731.044,591
729,400,001
728,246,755
729,931,621
729,778,823
728,515,285
727,169,316
20,563,626
21,690,081
20,790,783
22,092,856
21,539,251
22,032,083
22,659,331
22,871,039
20,550,148
21,193,423
21,670.491
759,030,69*
761,720,029
759,293,191
759,157,906
755,294,066
753,076,674
752,059,332
751,117,794
750,481,769
750,972,246
760,185,776
22.179,543 749.348.880
87%
21%
The
following shows the amount of each class of bonds
77%
151%
84%
55%
held against national bank circulation and to
moneys
108
in national bank depositaries
3%
9%
50%
Ex-dividend,
U.
d Quotations her)e given are
Sept. 30 1913.
on
S. Bonds Held
Sept. 30 to Secure—
Total
Circulation.
STOCK OF MONEY IN THE
CO-UNTRY.—The following table shows the general stock of money in the country as
well as the holdings by the
Treasury and the amount in cir¬
culation on the dates given.
The statement for Oct. 1 1912
will be found in our issue of Oct. 26
1912, page 1097.
Money Oct. 1' 13.
In United
Held in
States.
Treasury*
5
.1,895,438,245
Standard silver dollars
Silver certificates b
565,666,263
Subsidiary silver....
Treasury notes of 1890
175,617,585
2,607,000
....
National bank notes
Money
$
Gold certificates
United States notes
public
PublicDeposits
in Banks.
Held..
$
Gold coin and bullion
secure
Sept. 30.
Bank
-v-
Ifomtucvciat audBtisccIIaticous Rictus
Stock of
'
Bonds on Deposit
c
:
,
September
1096.
page
.
28
110
82%
42%
23
:
for Oct. 26 1912,
Legal
105
....
13%
88%
U. S. Steel Corporation..
57%
Preferred
....108%
-
28%
105%
....
13%
88%
85%
notes and in bonds
The statement for
Deposit for
Bonds.
12
13%
Paeifie
on
96%
90%
Preferred
deposit.
on
Bonds and Legal Tenders
.•
....
13%
22%
-.81%
156%
\
1912-1913.
29
98
91%
Union
57%
12
Island...
Railway...
Preferred.........
monthly changes in bank
legal tenders
20
29%
29%
Southern Paeifie
Southern
14,034,257 86
1912 will be found in our issue
125%
109%
134%
58
'
r
show all the
and
35
98
57%
82%
43%
82%
2,654,363 50 21.768,151 25
1,701,020 79
26%
58
cll2
deficit!
42
135%
20%
....
...
a
27%
35%'
cl26%
111%
135%
20%
...
......118%
Pennsylvania
57%
Reading Coaapany.
83%
a First preferred
43%
Rock
32
28%
106%
28%
4,850,052 24
9,184,205 56
.
11%
101%
18%
31%
12%
98
106%
.
'
43
43
•
83
228%
18%
111
29%
Western....:... 106%
*..., 87
Preferred,.
Northern
29%
95
103
34%
125%
i
10,342,809 01
11,425,342 24
BANK NOTES—CHANGES IN TOTALS
OF, AND IN
DEPOSITED BONDS, &c.—We give below tables which
101
27%
58
....
Missouri Pacifii...
Nat. RR. of Mex., l8t #ref_.
Second preferred
n
127%
111%
111%
136%
834,484 21
1,819,879 29
7%
43
36
....
1...
♦Sites, construction, equipment, operation and maintenance.
63%
57
13
Total
93%
58
32
27%
.43%
72 11-16
231%
103%
18%
33
27%
44
28%
64%
7%
95%
,101%
95%
82%
13
104%
18%
.18%
36%
Great Northern, preferred..
234%
73%
.64%
7%
95%
101%
96%
81%
233%
58
13
28%
preferred
Second preferred
•
' '58
13
45
First
96%
81%
58
Chicago Milw. A St. Paul..104%
Denver A Rio Grand#......
18%
Preferred
1..
33
Erie
102
236%
13
;
7%
....
236%
58%
72%
28%
72%
188,247,927 34 180,273,944 14
-
3,759,877 02
.....
87.45
74
2,058,856 23
Panama Canal paym'ts
for construction, Ac.
72%
87.70 "*
95%
96%
82
72 13-16 72 13-16
65
....
96%
Preferred
Fri.
87.70
72%
7%
96
..102
Baltimore A Ohia......
Thurs.
72 9-16
....
.....54,014,540 82 56,517,040 29
drawn-.i.
Wed.
28%
72%
72%
87.65
72%
72%
87.62%
72%
7%
Atch. Topeka A Samta Fe—
Tues.
28 5-16
----
per ceete
(net)
Excess of current rects.
Excess of pay warrants
346,681,016
759,030,694
in
Oct. 1
1913.
$
193,697,046
610,735,030
61,178,010 1,029,828,159
2,216,773
73,284,490
11,429,278
478,735,722
17,829,718
157,787,867
4,250
2,602,750
6,854,562
339,826,454
49,353,596
709,677,098
Circulation
2%'U.
4% U.
3% U.
2% U.
2% U.
S. Panama of 1936
S. Loan of 1925..^
,
8. Loan of 1908-1918..
8. Consols of 1930.
8. Panama Of 1933............
$
52,896,360
34,551,950
21,936,200
603,655,200
28,807,140
3.65% District of Columbia.......
Various, State, city and railroad.......
4% Manila Railroad..........
...
Porto Rico Loans
U. S. Panama of 1961....
Total
'Total
3,745,040,803 342,563,233 3,402,477,570
3,306,883,924
Population of continental United States Oct. 1 1913, estimated at
97,759,000; cir¬
culation per capita, $34 80.
The
616,874,600
622,000
29,429,140
:
933,000
16,049,106
10,000
2,012,000
5,923,000
1,821,006
17,665,700
918,000
68,473,400
810,320,256
17,665,700
...
Philippine Railway
741,846,850
S
609,910,326
946,242,270
68,975,061
482,367,666
144,147,954
2,846,260
341,385,059
711,009,328
$
54,185,866
38,451,650
26,047,200
918,000
Philippine Loans
Oct. 1
1912.
'
1,289,500
3,899,700
4,111,000
13,219,400
933,000
16,049,100
10,000
2,012,000
5,923,000
1,821,000
Various Territory of Hawaii
4%
4%
3%
4%
'
following shows the amount of national bank
afloat and the amount of legal-tender deposits
Sept.
Oct. 1, and their increase or decrease
notes
1 and
during the month of
September:
..
National Bank Notes—Total Afloat—
Amount afloat Sept. 1 1913...—,•—
Net amount retired during
September
...
,
$761,720,029
2,689,335
*
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 Treasurer of the United States, amounting to
S78,259,0S9 10.
b For the redemption of outstanding certificates
of the appropriate kinds of money is held in the
an
exact
equivalent In amount
Treasury, and is not included in the
aocount of money held as assets of the Government.
Amouht of bank notes afloat Oct. 1 1913..
$759,030,694
Legal-Tender Notes—
«.
Amount
on deposit to redeem national bank notes
Sept. 11913.i
Net amount of bank notes retired in September..
$21,690,081
1,126,455-
"
«
Amount
on
deposit to redeem national bank notes Oct. 1 1913
I
.
2.
$20,563,626
181913.]
Oct.
111889909245
TllE
,
CHRONICLE
Per
Street and
pared from Messrs. R. G. Dun & Co.'s statement, show the
number of failures and amount of liabilities in the United
119900234657
quarterly since 1886.
States
First Quarter.
189Q__
.
1893—
1896—
1897
1898.
1899
.
—
—
1901—
1908—
1912.
.
—
1913
2,735
2,855
2,'995
2,889
3,031
2,081
2,438
2,424
2,747
2,428
2,870
2,767
2,510
2,754
1,984
4,015
2,868
2,792
3,757
2,881
2,540
2,001
2,519
2,324
2,511
3,076
3,489
28,902,967
37,493,071
48,608,642
44,080,423
39,160,152
44,046,573
44,769,900
3,705
33,761,107
32,075,591
75,706,191
44,460,950
73,079,154
59,651,761
63,012,323
76,832,277
2.548
2,969
2,596
2,300
56,076,784
2,471
3,800
2,981
2,863
2,483
3,237
10.452—The
10.453—The First National
,
Gasler,
B.
C.
*
2
,
2
2,883
(quar.).
(quar.)
1912,
,
Liquidating
-V .
Quebec
Deo.
$
60,745,808
42,972,946
31,230,895
13.468,603
St. John
Calgary
...
London
...
Reglna.—
Brandon
+ 2.0
—8.7
+4.1
—7.1
+ 7.8
+ 1.3
—15.3
Preferred
Fort William....
New Westminster
Medicine Hat...
571,024
Total Canada.
$
+ 15.6
+ 14.7
41,869,268
34,427,845
24,175,867
9,517,164
4,145,816
2,576,203
1,847,226
2,075,390
1,614,776
2,936,290
1,339,693
2,335,683
1,817,413
1,248,104
.
+ 15.4
—11.4
189.729,023
M
e
La Rose
1st & 2d pref. (see
Colorado A Southern,
Great
Northern
'
•:
'
''
1%
announced for the
Northern
Pacific
Pitts. Cin. Chic. & St.
Reading Company,
3,,
Nor.
1 Oct.
C
Extra
to
Nov. 10
21
to
Nov.
2
Brazilian Tract., Lt. A Pow.,
Preferred (No. 15)___
Columbus
(Q.) Ry.t pref. (qu.) (No. 56)
Commonwealth Pow., Ry. A Lt., com. (qu.)
Preferred (quar.)
1
Cumberland Co. (Me.) Pow. & L., pf. (qu.)
JSast St. Louis A Sub., pf. (qu.) (No. 30)__
Grand Rapids Ry., pf.(qu.) (No. 52).Havana Elec. Ry., Light & Power, corn—
Preferred
...
20
11a
Nov.
Oct.
Oct.
Oct.
Oct.
12
to
31 Holders of rec .Oct.
31 Holders of rec. Oct.
Oct.
31
1 Oct.
26
to
Nov.
1 Oct.
19
to
IX
Nov.
$10
Nov.
29a
29«
21
to
26
to
Nov.
to
Oct.
23
U. S. Realty A
24
Nov.
7 Sept. 20
1 Oct. 18
to
Oct.
23
(quar.)
(quar.).....
(quar.)
U. S. Rubber, common
Nov.
to
Nov.
Nov. 19 Holders of rec. Oct.
Nov.
1 Holders of rec. Oct.
6
Nov.
31a
10a
31 Holders of rec. Sept. 30a
31 Holders of rec. Sept. 30a
Oct. 25 Holders of rec. Oct. 15a
Nov. 13 Holders of rec. Oct. 28a
Dee. U Holders of rec, Nov. 25 J
Oct.
30 Holders of rec. Oct.
7
Warner (Chns.)Co.
Washinaton
10
20
15a
Nov.
1 Holders of rec. Oct.
Nov.
1 Holders of ree. Oct.
15a
Nov.
1 Oct.
Oct.
31,
19
to
Dec.
•
50c.
1 Nov. 15
1 Oct. 15
Nov.
to
Nov.
Nov. 15 Holders of re$. Nov.
Nov.
1 Holders of rec. Oct.
,2
*5
ii
Oct.
20a
Oct.
24
Oct.
31
Oct.
,*24
Oct.
1 Holders of rec.
5 Holders of ree.
to
31 Oct. 22
1
to
20 Oct.
$1.25
Oct.
20 Holders of ree. Oct,.
,
1*4
$1.50
Nov.
Nov.
,
1
Dec.
to
4
17
Oct.
9
IX
Nov.
1 Oct.
Oct.
31
IX
Nov.
3 Holders of ree. Oct.
15
16
to
0
—
...
—
34
Oct."l2"" to"" Oct"" 31
1
NOV.
2
Oct.
50c.
20 Holders of rec. Sept.
la
,
31
16
to
Oct.
6
to
*IoV. 16
Nov. 22
te
Nov. 25
31 Oct.
3b
Oct.
1*4
Nov. 15 Nov.
IX
Dec.
14
Nov.
5
Oct.
20
Oct.
20 Oct.
,24
$2
30a
Nov. 15 Holders of ree. Nov.
15
f Holders ef ree. Oct.
17a
1
Oct.
.
to
Oct.
17
1
to
Oct.
17
9a
IX
31 Holders of ree. Oct.
Nov.
to
Nov.
1 Oct. 21
Nov.
to
Nov.
1 Oct. 21
14
Nov.
1 Oct.
21
to
1*4
Nov.
1 Oct.
24
to
2
Nov. 25 Holders ®f ree. Oct.
Oct. 25 Holders of rec. Oct.
25
IX
IX
Nov.
1 Oct.
24
to
Oct.
31
IX
Nov.
1 Oct.
19
to
oet.
31
14
Nov.
14
Oct.
3
3
Nov. ,2
Oct. 3l
15a
1*4
Oct 31
to
1 Oct 19
Nov. 29 Holders of rec. Nov.. la
Nov. 15 Holders of rec. Oct. 31a
14
Oct.
24
Oct.
.14
7
20 Holders of rec. Oct.
Oct.
to
31 Oct. 24
31
Oct.
31
IX
Nov.
1 Oct.
1
Nov.
16
to
2
-
Nov.
1 Holders of ree. Oct.
1 Holders of rec. Oct.
24a
2
(quar.)
(quar.)
Nov.
1 Holders of rec. Oct.
20a
1 Oct.
1*4
Nov.
25
Oct.
31
1 Holders of ree. Oct.
31 Holders of rec. Oct.
31 Holders of rec. Oct.
23
Nov.
IX
21
to
15a
IX
4——
pf.(qu.)
....
Nov.
Holders of
rec.
Oct.
31
S3
Nov.
Holders of
rec.
Oct.
21
A Mfg., com. (quar.)
White (J. G.) A Co., Inc., pf. (qu.) (NoA2)
Willi/s-Overland, common (quar.)
Nov.
Holders of
rec,
Oct.
21
Wool worth
Nov.
Holders of rec
Oct.
15
Worthlngton
Nov.
Holders of
Oct.
Nov.
Holders of rec.
Oct.
Nov.
Holders of
rec
Oct.
20a
Not.
Holders of rec
Oct.
15
Nov.
Holders of rec
Oct,
15
Nov.
Oct.
15a
3
Oct.
1*4
Oct.
31 Holders of rec. Oct. 15a
23 Holders of rec. Sept. 30
1-6
4
31 Holders of rec. Oct.
Nov.
1 Holders of rec. Oct.
Nov.
1 Holders of rec. Oct.
1
Holders of
rec.
Oct.
$4
Dec.
1
Oct.
14
Nov.
14
Nov. 10 Holders of rec.
14
Dec.
1 Holders of rec.
34
1 Holders of rec.
Oct.
15
15
31
Nov.
Nov.
15a
30 Holders of rec.
Sept.30a
17a
IX
Oct.
17a
IX
Oct.
14
—
Oct.
2
(monthly).—
of Del.,Is/ A 2d
Oct.
18
Nov. 15 Holders of ree. Oct.
NOV.
3
to
NOV.
1 Oct. 16
14
(quar.)
Oil.........
,; to
20 Holders of rec. Oct.
25 Holders of rec. Oct.
.
Oct.
24
preferred
Preferred (monthly)
Vacuum Oil
Nov. 13 Holders of rec. Nov. 11a
Nov.
2
Nov.
1 Oct. 18
24
Shuttle, pref. (quar.)
Improvement (quar.)
Utilities Improvement, com.
,
Oct.
$4
(quar.)
Second preferred (quar.).*.
First
,
Oct.
IX
U. S. Bobbin A
2
Oct. 31
Oct. 21
to
1 Holders of rec. Nov. 19
1 Holders of rec. Oct. 15a
1
Nov.
Dec.
2X
•_
-i
1 Oct.
18a
1 Holders of rec. Oct.
31 Holders of rec. Oct.
31 Holders of rec. Oct.
Nov.
30c.
(No. 21)....
Taylor-Wharton Iron A Steel, pref. (qu.)
7 Sept. 20
15a
Oct..
IX
Standard Milling, preferred
6 Oct.
3l
Oct.
1*4
9)
Sears, Roebuck A Co., com. (qu.)
Shawinlsran Water A Power (nuar.)_—.
Nov.
2
• Nov.
IX
$3
.......
Nov.
15 a
Oct.
to
1 Oct. 48
1 Holders of rec. Oct.
3X
III., com. (quar.)
Nov.
15
10c.
(quar.)...
2
1
26
Nov. 12
Nov.
IX
preferred
24
15a
Nov.
to
IX
Mining
United Fruit (extra)
.16
IX
—
United Dry Goods Cos., com.
1 Oct.
Oct.
to
25 Oct. 16
Nov.
1 Holders.of rec. Oct.
Nov.
1 Holders of rec. Oct.
$4
Second
Preferred
18a
25a
Oct.
3
(quar.).,.;....
preferred (quar.).....
Pacific Power A Light, pref. (qu.) (No. 13)
First
15
31 Holders of rec. Oct.
20 Oct.
Nov.
IX
S3
Ltd. (qtiar.).
24
X
(quar.)
United Cigar Mfrs.« common
3a
Westlnehouse Eiec.
Street and Electric Railways.-
Cape Breton Elec. Co., common (No. 8)—
1 Holders of rec. Oct.
1 Holders of rec. Oct.
IX
; i...
Quaker Oatb. preferred
31a
24
preferred
Nov.
IX
(quar.)—.a
1st A 2d pf. (qu.)
Oct.
IX
24
IX
Consolidated Mines (quar.)....
Public Service of Nor.
1
foot-n ole e)
Oct. 20 Holders of rec. Oct.
24
2
1 Holders of rec. Oct.
Nov.
— ...
pref.
—
Mexican Petroleum, preferred (quar.)...
Miami Copper (quar.) (No. 7)—.......
Milwaukee A Chicago Breweries, Ltd...
National Carbon, nreferred (quar.)
National Lead, preferred (quar.)
New England Cotton Yarn, pref. (quar.)..
Nlpissing Mines (quar.)....;
,,
1
L., com.Apf. (qu.)
common
Reading Co., 1st pref. (quar.)
Southern Railway,
Nor. 10 Nov.
Nov.
5-12
IX
Coke (guar.) .....—
(quar..
Portland(Oxe.)GasdcCoke, pf. (qu.) (No. 15)
1 Holders of rec. Oct.
Dec.
1 Holders of rec. Oct.
1 Holders of rec. Oct.
15
Nov.
IX
Pittsburgh Coal, preferred
Books Closed.
IX
(quar.)
1
Peoples Gas Light A
Days Inclusive.
IX
Nov. 10
1
to
1 Holders of rec. Oct. 31a
Holders of rec. Sept. 30a
Oct. 25
Nov. 15 Holders of rec. Oct. 31
Oct. 26
to
Oct. 25 Oct., 16
4
Osceola Consolidated
When
Dec.
l
Massachusetts Gas Cos., common (quar.)
Massachusetts Gas Cos., pre.f...—;
132,980.935
Payable.
Nov. 16 Nov.
1*4
Sales (quar.)
,—
Loose-Wiles Biscuit, 2d pref. (qu.) (No.6)
m
1
31a
K
A C., pref
1
Norfolk & Western adj. pref. (quar.)
IX
8
21
Oct.
Nov. 15 Holders of rec.
1*4
Mexican Light A Power,
4.
Holders of rec. Oct.
1
2
(quar.)
i x
(quar.)..
Nov.
—-
2.26
Slmlra A Williamsport, common
Georgia Southern A Florida lsr A 2d pref.
Grand Trunk, guaranteed stock--.
First and second preference
Nov. 15 Holders of rec. Nov.
Nov. 15 Holders of rec. Nov.
1*4
Lehigh Vallev Coal
——
157.003,329
24
Delaware Lack. & Western, (quar.)
IX
.
...
+8.6
A
Cincinnati Sandusky A Cleveland, pref..
Nov. 25
4
Keystone Telephone, preferred (No. l)__-__
La Belle Iron Works, common (quar.) —
"
Cent.
pref
7
(quar.)
preferred
16
15 Holders of rec. Sept. 10
Oct.
Island Creek Coal,.common
441,872
Per
Atlantic Coast Line RR.,
16
1
Nov.
IX
Lt., pf. (qu.) (No.
Kayser (Julius) A Co.,
important corporations.
printed in italics.
Name of Company.
21
Nov.
2
Nov.
to
2
.
Preferred
Dividends announced this week are
Railroads (Steam).
Atchison Topeka & Santa Fe, com. (qu.)
29
Oct.
(quar.)
Tnternat. Smokeless P.
554,119
following shows all the dividends
or
Oct.
to
22
1*4
(quar.)..
...
(quar.) (No. 76)..
Pacific Coast Co.,>om.
by large
to
3 Holders of rec. Oct.
3 Holders of rec. Oct.
$1.24
22)....
—
d Illinois Northern Utilities pref. (quar.)
Indiana Pipe Line (quar.)..,—
International Banking Corporation
International Nickel, common (quar.) —
DIVIDENDS.
future
15
21 Sept. 23
Nov.
Preferred (No.
612,325
.
—30.2
•
i
The
30 Oct.
Oct.
(quar.)
IX
'Guanajuato P.&E., pref. (qu.) (No. 21)..
IX
Harbison-Walker Refractories, bref. (qu.)
65c.
Homestake Mining (monthly) (No. 467) —
62,4c.
Houghton Co. Elec. Lt., com. (No. 17).
75c.
in total
Not included
206,004,719
Oct.
1 Oct.
Nov. 15 Holders of rec.
Gorham Mfg. Co., common
1910.
2,403,525
1,603,705
643,236
615,918
1,480,445
916,818
525,824
+ 10.1
684,394
823,579 ;;+38.4
1,139,722
633,786 Not Included In total
Brantford
29
Goldfleld Consolidated Mines.
'2,803,830
—9.0
2,540,280
1.325,409
1,772,859
1,174,667
753,197
Moose Jaw
1.8
656,759
536,148
618,838
Lethbridge
Saskatoon
—11.1
2,673,289
3,311,434
1,825,459
5,676,647
1,808,364
4,169,210
4,434,958
2,831,482
4,034,656
3,273,634
753,004
Edmonton
Oct.
1*4
Fall River Gas Works
General Motors,
51,906,863
35,424,209
26,973,197
12,164,737
4,499,879
2,701,188
1,797,129
2,580,711
1,482,064
4,475,845
1,450,087
+ 8.5
4,428,783
3,584,576
3,53i,8!28
Viotoria
to
pref. (quar.).
Federal Sugar Refining, com.
Ft. Worth Pow. A
1911.
7
+ 37.3
3,446,909
1,696,543
6,119,033
1,831,665
15
Pittsburgh, pref. (quar.)_
Eureka Pipe Line
Extra
+ 5.4
2,440,047
Hamilton
30 Oct.
IX
pf.(qu.)
Edison El. Ill of Boston (quar.) (No. 98)r
Edison Elec. 111. of Brockton (No. 52)
Elec. Securities Corp., pref, (quar.). — .
Electric Bond A Share, pf. (qu.) (No. 34)
Emerson-Brantingham, pref. (quar.)
11.
%
IJallfax ...;
29
diiPont(E.I.)deNemours Powd.,
-
?
1912.
3,412,072
•
Oct.
Distilling Co. of America, pref. (cmar.)__
Dominion Steel Corp., Ltd., pf. (qu.) (No.7)
Inc. or
-
$
Ottawa
to
2
(monthly)
Cuyahoga Telephone Co.,
-
cities, in comparison with the
shows an increase in the aggregate of
1913.
Vancouver
15
Commonwealth Edison
Consolidated Ice,
Week ending Oct.
Winnipeg.
30 Oct.
preferred (quar.).
(quar.)
Second
(Conversion of
Cashier.
15a
28
Oct.
Preferred (monthly)..—...—-.
Claflin (H. B.), first preferred (quar.)
Co.),
1 Holders of rec. Oct.
Oct.
to
29 Oct. 19
Oct.
Nov.
2X9 Oct.
pref. (quar.)
Ltd. (quar.)
Tool (quar.)
—
Cities Service, common
Clearings.—The clearings for the week
64.002,547
46.644.6J5
42,869,571
11,969,840
4,519,472
Nov.
1*4
2X
27).
,
Clearings at—
Toronto
Nov. 24 Holders of rec. Oct. 25
Nov. 15 Holders of rec. Nov. la
IX
...—
General Chemical, common
Montreal
Nov.
Car & Foundry,
Chicago Pneumatic
Capital, $50,000.
Bank of Gardena, Cal.
n
Canada—
Nov.
to
Canadian Car & Foundry, common
Capital,
Pa.
Strausstown,
s.6%.
•
to
29
pref. (quar.) (No. 15)
Canada Cement, Ltd.,
ending Oct. 11 at Canadian
week of
22
1 Oct.
IX
preferred
—
American Shipbuilding, preferred (quar.)„
American Window Glass, preferred
Bond A Mortgage Guarantee (qitar.)-.+-mBurns Bros., common (No. 1)__
—
Preferred (quar.) (No. 3)._-—
BANKS OCT. 2 TO OCT. 3.
8,823—The First National
Absorbed by the Security State Bank of Newport.
agent, Charles F. Craig, Newport, Wash.
,
same
1 Oct.
Canadian Converters',
President; I. 8.*Ball,
Bank
1 Holders of rec. Oct.
Nov.
1
of N. J. (quar.)
Gas & Elec., pref. (qu.) (No.
Cambria Steel
27a
2
2
Nov.
IX
American Malting Co.,
regarding
2
31
IX
Graphophone, pref. (quar.) (No. 62)
Amer. Light & Traction, com. (quar.) —
Common (payable In common stock)
Preferred (quar.)__ —
—
American Locomotive, pref. (quar.) —...
American Malt Corporation, preferred __
35,167,286
45,532,137
63,837,315
Oct.
to
15
Nov.
.
Amer.
42,177,998
7;
2
Amer. Dlst. Teleg.
Amer.
6a
(quar.)
American Cigar, common
\
Bank of Newport, Wash., September 10 1913.
Canadian
1 Oct.
Miscellaneous.
27,594,498
VOLUNTARY LIQUIDATION.
<\
:
Nov.
15a
Oct.
IX
-
Consolidation Coal (quar.)....,
^
15
15
20 Holders of rec. Oct.
Nov.
to
Nov.
1 Oct. 25
Amalgamated Copper (quar.)
—
American Bank Note, com. (quar.).——
President; W. M. Anspach, Cashier.
The Gardena Bank & Trust
1 Holders of rec. Oct.
1 Holders of rec. Oct.
la
IX
(quar.)
(quar.)
Nassau, Brooklyn
Canadian
National Bank,
Isaac Moll.
$25,000.
31
Nov.'
Oct.
to
1 Oct. 22
1 Holders of rec. Oct.
IX
Astor Trust
of the Comptroller of the
ISSUED TO NATIONAL
Strausstown
Nov.
Nov.
preferred (quar.) (No.32)
Broadway
Currency, Treasury Department:
CHARTERS
15a
Nov.
Padflc (quar.)
Trust Companies.
2,835
3,011
Banks.'—1The following information
National
national banks is from the office
la
1 Holders of rec. Oct.
IX
t.
55,302,690
3,499
3.549
1 Holders of rec. Oct.
1 Holders of rec. Oct.
Nov.
2X
Ranks.
27,119,996
24,756,172
25,032,634
34,858,595
32,168,296
20,329,443
21,996,163
46,467,686
31 Holders of rec. Oct. 20a
Nov.
2
to
1 Oct. 28
3 Holders of rec. Oct. 15a
Nov.
six
Virginia Ry. & Power, common.
West Penn Rys.,
31a
1
(No. 47)
Elec. Co., pref. (qu;) (No. 17)
Sierra Pac.
15a
31
Oct.
to
Nov.
SIX
L. & P. (qu.)
Sao Paulo Tram;,
23
1*4
Railways Co. General (quar.).-Rio de Janeiro Tram., L. & P. (quar.) —
22,114,250
30,227,045
35,452,436
44,302,494
18,659,235
82,469,821
29,411,196
32,167,179
73,285,349
25,601^188
25,104,778
17,640,972
Nov.
Nov.
1 Oct.
15a
Oct.
3
preferred.. —
Invest., pf. (qu.) (No. 18)
Public Serv.
Oet.
IX
Cumulative
$73,022,556
1,938
2,361
2,276
2,196
$22,976,330
29,229,370
22,856,337
27,466,416
50,248,636
22,989,331
121,541,239
37,601,973
41,026,261
40,444,547
43,684,876
34,498,074
14,910,902
41,724,879
24,101,204
26,643,098
32,452,827
31,424,188
25,742,080
1,905
2,241
2,292
2,162
2,529
2,119
3,199
§32,161,762
38,884,789
42,972,516
37,852,968
42,167,631
39,284,349
47,338,300
64,137,333
47,813,683
57,425,135
48,007,911
32,946,565
27,152,031
33,022,573
31,703,486
33,731,758
34,344,433
48,066,721
30,162,505
3,007
2,948
3,311
3,223
3,545
3,384
3,202
4,304
3,802
4,031
3,932
3,687
2,772
2,894
3,335
3,418
3,200
2,344
3,443
3,102
3,136
4,909
3,850
3,525
3,985
4,828
4,458
1887.
Failures.,
Liabilities.
Failures
Liabilities.
Failures.
Nov.
2X
(guar.).(quar.) (No. 128)
Montreal Tramways
of
Liabilities.
rec.
IX
pf.(qu.) (No.56)
Traction, common
Philadelphia Co., com.
Amouht
of
rec. Oct.
1 Holders of
Nov. 10 Holders of rec. Oct.
1*4
(quar
Ry.&Lt.,
Monongahela Valley
1 Holders of
Nov.
1
Tramways
Milwaukee El
Nov.
IX
1*4
(qu.) (No. 11)_
(quar.) (No. 11)
Lehigh Valley Transit, preferred
Mexico
No.
of
Amount
of
No.
of
Amount
of
No.
Days Inclusive.
Preferred
.
Years—
Books Closed.
Payable.
(Concluded).
Electric Rys.
Jacksonville Trac., com.
Third Quarter.
Second Quarter.
When
Cent.
Company.
Name of
QUARTERLY.—The following figures, pre¬
FAILURES
IX
1*
IX
ft
3
Nov.
Oct.
26
26
rec
%to
to
a
e
as
Nov.15
an
of
2%
20
Oct.
25
20
closed for this dividend.
6 Less income tax. i Correction
reported in this column in our Issues of Sept. 20 and Sept.
Transfer books not
Dividends
Nov. 15
(quar.)
(Henry R.), preferred...—
(F. W.) Co., common
1 Holders of rec. Oct.
2'
Colorado A Southern Ry^ wa
stocks. / Payable in stoek •
payable on Oct. 1 on com. and pref. stocks of the
error.
It should have read, first and second preferred
1092
THE
CHRONICLE
Auction
Sales.—Among other securities, the following,
usually dealt in at the Stock Exchange, were recently sold at
auction,in New York, Boston and
Philadelphia:
By Messrs. Adrian H. Muller & Sons, New York:
[Vol.
DETAILED RETURNS
OF
TRUST
not
Shares.
per Cent.
67.58 Chauncey
Realty
N. Y., pref
25 Chauncey
Realty
Co.
Shares.
of
Placer
Mg.
N.
Y.
$
S
$
3,699,7 23,632,0 2,162,0
14.860.0 121,092,0 14,764,0
U. S. M. & T.
4.376.5
35,591,0 3,759,0
Astor
1.266.6
18,564,0 1,904,0
Title Gu. & T.
11.437.1
33,785,0 1,907,0
Guaranty
23.672.2 159,482,0 14,576,0
Fidelity
1.330.5
7,381,0
660,0
Lawyers TI «feT 5,614,0 16,140,0
1,268,0
Col.-Knicker..
7,125,9 46,230,0 5,051,0
People's
:
1.543.6
16,266,0 1,882,0
New York.
11,993,2 44,594,0 4,424,0
Franklin
1,197,3
8,737,0
915,0
Lincoln
528,4
9,895,0 1,077,0
Metropolitan
6,156,6 21,332,0 1,844,0
Broadway
824,4
11,788,0 1,179,0
50 U. S. Title Guaranty Co
60 Pinelawn Cemetery
Co.
Bonds.
67 Y
$4 per eh.
Per Cent
'
$2,000 K. C. Mexico & Orient Ry.
Co.
1st
4s,
1951; Feb.
1912
......
25
coupons on..
5 "Spirit of the Times" of
N.Y.
3 1-3 N. Y.
Sportsman Pub.
Co. of N. Y
6 3-10 Regius Mfg. Co. of
111..
5 The Holbein Co. of N.
.
_
Y.,
tion
Co.
of
Totals,Average 95,626,0 574,509,0:57,372,0
Collec¬
the
U.
25 The
Paige
Actual figures
Mtn. Summer Home
Co. of Vt. 1st 6s, 1905
The capital of the
trust
$ per sh.
Shares.
3 Continental Mills..
75
9 Aetna Life Ins. Co
$3,000,000; Franklin, $1,000,000; Lincoln, $1.000,000; Metropolitan, $2,000,000;
Broadway, $1,500,000; total, $46,250,000,
Athenaeum, par $300—.350
,2 Plymouth Cord. Co., ex-div
212H
.295H
.
$ per sh.
1 Boston
81M
Peppered Mrg. Co
5 United
-.502
Elec.
Lt.
Co.,
SUMMARY COVERING BOTH
Spring¬
field, rights
—
Co
...$125
lot
Mfg.
$1
each...
14-14^
Logan Trust Co
1
$1
125
Exten.
Co.,
$25 each
16 H
10 Union Passenger
Ry........ 190M
7 John B. Stetson
Co., Com...375H
10 Amer. Pipe & Construe.
Co. 45
10 Keystone Watch Case
Co... 90
52 Amer. Dredging Co..
98-99M
Iron
'
?
Mg.
$2
$ per sh.
10 Amer. Pipe & Construe.
Co.... 45
4 Phila.
Bourse, com., $50 each
4%
$
$
—
Pa. 1st 5s, 1931.
7%
$1,100 Sun. Haz. & W.-B. Ry. 2d
6s, 1938——
114%
,
—
The .State
of
charge.
the
Banking
the
New
These returns
of the trust companies.
76,212,0
also
trust
$
;•••
48,855,6
1,347.261,0
422,925,0
48,855,01,770,186,0
'l,339,301,O
48,729,0
421,830,0
furnishes
weeklj
companies under Its
all the institutions of this class
cover
the
figures
compiled
are
results for New York
York) and those for the
rest of the
so
to
as
City (Greater
State,
the
as per
"
(
For definitions and rules
made up, see
are
i
under which the'various items
"Chronicle", V. 86,
STATE
BANKS AND
p.
316.
TRUST. COMPANIES.
Slate Banks
case
%
,
330,057,Oj 75,100,0 48,729,0(1,761,131,0
Department
whole State, but
following:
,,
1607, in the
$
■
330,775,0!
State banks and
distinguish between the
Trust Cos,
in
in
Week ended Oct. 11.
For definitions and rules under
which the various items are
made up, see "Chronicle," V.
85, p. 836, in the case of the
p.
Deposits.
$.;-y
1,929,616,0
returns
in
Shares.
■:•
.vY- S per sh.
20 People's Nat. F. Ins. Co., $25 ea.
16%
cos.
The figures for the
separate banks are the averages of the
daily results.
In
the case of the
totals, actual figures at the end of the week
banks, and V. 92,
Net
Banks.
1,355,853,0 272,434,0 68,479,0
573,763,0
ending Oct. 11.
.
On Dep.
with C.H.
58,523,0, "6,621,0
$1,000 Ches. & Del.Canal 1st 4s,'10 64%
$500 Wyoming C. & I. Co. 1st 6s,
1908.-......-.-.
——$1 lot
$2,000 Consol. Telephone Cos. of
and Trust
Companies.—The detailed statement below
Bhows the condition of the New York
City Clearing-House
members for the week
also given:
y.h::
Total—
"PfiT Cpvii:'"'
Statement of New York City
Clearing-House Banks
are
Legal
Specie.
.Total... 179,900,0 305,760,2
1,935,968,0
Actual.
Trust
By Messrs. Samuel T. Freeman & Co., Philadelphia:
Shares,
$
Banks....
lot
:■:.
Loans,
133,650,0 210,134,2 1,361,459,0 273,403,0
69,667,0
-46,250,0 95,626,0
574,509,0 57,372,0
6,545,0
cosi
lot
..$1
Co
I
Surplus.
lot
10^
Co
each....
15 Superior
Rfitiifo
Banks
lot
Trust
Valley
each
Mg. Co., $1
Library Co. of Plilla
1,000 Kendall
9 Pennsy. Co. for
Insur., &C..640
1 Pennsy. Fire Ins. Co
395
15 People's Nat. F. Iiis.
Averages.
$2..
Death
.
7 Fourth Street Nat. Bank...295
30 Mfrs. Nat.
Bk., Newark, N.J250
6 Commonwealth T. I. & T. Co235
6
each
100 Greenwater
Capital.
40Vs
2,600 Gt. Manliat. Cons. Mg. Co.,
Co.,
COMPANIES.
Tenders.
ending
Oct. 11.
$ per sh.
23 N. Liberties Gas Co., $25 ea.
265 Manayunk Tr.
Co., $25 each 59 Y
100 Manayunk Nat. Bank
.263
450 Glen Willow Ice
TRUST
Week
Shares."
$ per sh.
Silica
BANKS AND
8
—
By Messrs. Barnes & Lofland, Philadelphia:
Shares.
$10
6,621,0+8,729,0.421,830,0.15.4+10.3
companies Is as follows: Brooklyn,
$1,500,000; Bankers',
$10,000,000; United States Mortgage &
Trust, $2,000,000; Astor, $1,250,000; Title
Guarantee & Trust,
$5,000,000; Guaranty, $10,000,000; Fidelity, $1,000,000;
lawyers' Title Insurance
Trust, $4,000,000; Columbia-Knickerbocker, $2,000,000;
People's, $1,000,000; New York,
.
By Messrs. R. L. Day & Co., Boston:
1,960 Preston
573,763,0 58,523,0
....
Green
Shares.
25 Hamilton Mfg. Co
1
Oct. 11.
Compositor Mfg.
Co. of 111
$500
6,545,0 48,855,0 422,925,0 15.1 + 10.3
S.,
$1,000 each
Reserve.
■
Bankers
.101-111
Net
Deposits.
Average.
$
$
%
720,0 2,198,0
18,977,0 15.1 + 10.3
187,0 11,086,0 99,515,0 15.0+10.2
412,0 4,294,0 27,769,0 15.0+13.1
30,0
1,380,0 12,950,0 15.0+ 9.3
1,265,0 2,343,0 21,277,0 15.0+ 9.8
1,036,0 10,766,0 102(602,0 15.2+ 9.4
253,0
742,0
5,731,0 15.9 + 10.6
r
338,0
1,311,0 10,546,0 15.2 + 11.0
720,0 4,189,0 38,384,0 15.0+ 9.8
426,0
1,990,0
15,257,0 15.1 + 11.3
274,0 3,443,0 31,039,0 I6.I+IO.O
139,0
925,0
6,883,0 15.3 + 11.8
210,0
972,0
8,531,0 15.0+10.2
1,796,0 12,232,0 15.1 + 12.8
9,0
526,0
1,420,0
11,232,0 15.1 + 11.2
Brooklyn
Society
COMPANIES.
On Dep.
Specie.
Legals. withC.H.
Average. Average.
Banks.
Loans.
Average.
.
Rights
Library
of Washington
2,900 Cumberland Mg. & Sm. Co.
of Mont., $10 each
$25
6 Chester Mg.
lot
Co., of N. Y._.
$10 each.....
5 Robinson & Sawder
Surplus.
00s omitted.
Pw Cent
377
'
2 Standard Oil Co. of N. J
of
N. Y., common..
Hill
:
..
2 Free
Co.
667 Hoosac Consol. G. & S.
Mg.
Co. of N. Y
34 Eagle
:
■.
Trust Cos.
xcvii.
Greater N.
Y. Greater N.
$
Capital as of Sept. 9—...
State Banks
Trust Cos.
outside of
outside of
"
Y. Greater N.Y. Greater N. Y.
%
$
.
$
22,950,000
68,400,000
38,804,500
163,181,300
*12,463,100
*11,405,100
303,906,400 1,056,451,200
+ 1,052,600
—1,894,100
122,959,300
177,047.200
+ 566,400
*9,478,000
*10,150,000
'
DETAILED RETURNS OF BANKS.
We omit lien ciphers (00) in all
coses.
V
Surplus
as of
and
Loans
Capital. \
00a omitted.
Surplus.]
Specie/
Loans.
Average.
$
: $
,
New York
2,000,0!
Manhattan Co
Merchants'
2,050,0
2,000,0,6,000,0
.
Net Depos¬
Re¬
its, Aver.
serve.
$
$
4,233,7
4.993.4
2,152,7
8,932,5
6,300,9
31.734.1
7,696,6
20,712,0
3,741,0
31,050,0
7,547,0
19,245,0
4,065,0
Mech. & Met
56,725,0 10,693,0
America
1,500,0',
22,965,0
3,422,0
City—
25,000,0
190,682,0 37,920,0
Chemical
:
3,000,0
29,574,0
4,458,0
Merchants' Ex
600,0 Y : 513,8
6,660(0
1,559,0
Butch, & Drov
300,0
120,7
•2,000,0
346,0
Greenwich
;
500,0 ■1,080,9
8,680,0
2;259,0
American Ex
5,000,0
4,750,3
42,646,0
9,320,0
Commerce
25,000,0 17,129,3 134,746,0 16,461,0
Pacific—
500,0 ;
983,3
4,996,0
432,0
Chat. & Phen.
2,250,0
1.333.5
19,441,0
3,557,0
People's...
200,0
,464,0
2,272,0 : i 466,0
Hanover
3,000,0 14,621,3
73,104,0 19,386,0
Citizen's Cent.
2,550,0
2.347.6
22,754,0
4,985,0
Nassau
1,000,0
466,4
10,788,0
1,666,0
Market & Fult
1(000,0
1.923.3
8,916,0
1,473,0
Metropolitan.
2,000,0
1,-833,9,
;13,886,0 1.3,525,0
Corn Exch...
; 3,000,0
6.048.7 ;• 54,487,0 1 8,6880
Imp.
Trad.
1,500,0
7.841.4
25,616,0
3,646,0
Park
5,000,0
14,326,0
87,022,0 21,025,0
East River.._
250,0
64,3
1,523,0
297,0
Fourth
y
6,000,0 I 5,885,6 A 28,309,0
5,726(0
Second
1,000,0
2.742.1
.13,474,0
2,907,0
First•
10,000,0 22.196.2
107,223,0 23,136,0
Irving
4,000,0
36,524,0
3,339,4
7,001,0
Bowery
250,0
784,6
3,210,0
809,0
N. Y. County
500,0
1,959,9. ;
8,288,0
1,436,0
Gernjan-Amer.
750,0
678,3 : .3,942,0
763,0
Chase
5,000,0 10,096,9
94,075,0 21,938,0
Fifth Avenue.
100,0
2,172,0
13,115,0
2,754,0
German Ex...
200,0
825.6
3,705,0
558,0
Germanla
200,0
I(038,6 r 5,107,0
1,221,0
Lincoln
1,000,0
1,790,3
14,820,0
■3,023,0
Garfield
1,000,0
1,297,6
8,697,0
2,025,0
:
Fifth
•
250,0
491,7 1 4,093,0 v
387,0
Metropolis
1,000,0
'2,305,8
12,055,0 '1.806,0
•'
West Side200,0
888,0
31839',0
899,0
Seaboard
1,000,0
2,485,9
24,589,0 '6,371,0
Liberty
1,000,0
2,787,6
22,494,0
4,904,0
N. Y. Prod.Ex
1,000,0
925.7
9,035,0
2,258,0
State
1,000,0 w 491,6
18,677,0
5,577,0
1
Security
1,000,0
364,0
11,808,0
2,434,0
Coal & Iron..
1,000,0
559,0
6,860,0
1,278,0
Union Exch..
1,000,0
991,0
9,203,0
1,762,0
Nassau, Bklyn
1,000,0
1.144.2
7,821,0
1,493,0
890,0
1,534,0
789,0
2,315,0
1,852,0
6,223,0
2,027,0
176,0
'
•
61,0
'
...
!
170,0
1,487,0
10,847,0
738,0
1,552,0
"
'
...
•
______
....
...
"
„
.
...
'
.
1
'
Totals,
Oct. 11—
Circulation.—On the basis
House amounted to
—
—
25.1
26.0
26.0
24.6
*
25.7
27.1
.25.8
1,848,0
118,0
'
2,000,0
162,0
2,070,0
2,339,0
'72,0
718,0
183,0
4,424,0
1,070,0
358,0
255,0
638,0
309,0
547,0
1,124,0
292,0
1,605,0
1,133,0
460,0
398,0
1,248,0
555,0
350,0
190,0
25.9
24.0
26.5
25.7
25.2
27.0
25.7
27.5
27.3
25.1
26.0
25.4
26.3
25.9
was
Legal-tender & bk. notes.
22,482,700
+ 1,129,600
Change from last week.
Deposits—
Change from last week.
Reserve
+ 622,800
111,718,800
—1,192,000
'
—r
Change from
,
9,939,800
+38.700
Y
347,605,900 i 416,923,000
+ 882,700 —10,217,700
deposits.....
on
91,295,760
+ 959,700
last week.
P. C. reserve to deposits.
128,637,000
—1,533,100
•
27.0%
26.8%
Percentage, last week..
16.1%
16.5%
'
i*
Y
i
—
——
+increase
184,545,800
—521,500
25,007,700
+ 611,300
24,155,400
'
—698,600
:
20.5%
20.3%
14.1%
,
14.5%
24.6
to the amendment of
(according
1910), and exclusive of deposits secured (according to amend¬
or obligations of the City or State of New
York, and ex¬
1911) by bonds
amount
equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the
company or held in trust
by any public department.
I
y
an
for it
—Trust Cos.
24.6
25.1
Manhattan
25.6
Brooklyn Borough (without branches in Manhat.)15%
Other Boroughs (without branches in
Manhattan) 15%
27.5
25.0
25.7
25.0
Companies
25.9
Of
Total
Of
which
Reserve
which
Brooklyn Borough, with branches in Manhattan. 15%
Other Boroughs, with branches in
Manhattan...15%
Cities of the first and second class
10%
Cities of the third class and villages
10%
10%
10%
15%
15%
5%
3%
25.4
Clearing
$46,036,000.
20%
15%
20%
15%
15%
25.2
25.7
*■'
Required, in Cash. Required, in Cash.
...15%
15%
25%
15%
Borough
Elsewhere in State
—State Banks—
Total
Reserve
—
25.7
+•
shown
Reserve Required for Trust
and Slate Banks.
Location—
26.4
* As of June
reserve
as
ment of
25.9
—Decrease from last week.
Trust companies in New York State are required
by law to
proportionate to their deposits, the ratio varying
according to lo¬
below.
The percentage of reserve
required is computed on the
aggregate of deposits, exclusive of moneys held in trust and not
payable within
thirty days, and also exclusive of time deposits not payable within
thirty days
represented by certificates, and also exclusive of deposits secured
by bonds or
obligations of the State or City of New York, and exclusive of an amount
equal to
the market value (not'exceeding
par) of bonds or obligations of the State or
Cityof New York owned by the bank or held in
trust for lt by any public
department.
The State banks are likewise required to
keep a reserve varying according to loca¬
tion, the reserve being computed on the whole amount of deposits exclusive
of time
deposits not payable within thirty days, represented
by certificates
a
cation
clusive of
25.3
last week.
from reserve agents.
keep
26.1
26.2
over
i
10%
7^%
20%
15%
6%
The Banking Department also undertakes to
present sepa¬
rate figures indicating the totals for the
State Banks and
trust
companies in Greater New York
\#
129,968,100
+ 1,575,100
Note.—-"Surplus" Includes all undivided profits.
"Reserve on, deposits" Includes
for both trust companies and State
banks, not only cash items but amounts due
25.1
13551853,0 272,434,008,479,0 1339,301,0: 25.4
of averages, circulation of
national banks in the
63.941,200
—1,028,900
25.1
2,269,0
$44,750,000 and according tb actual figures
24.7
24.8
80,260,0
21,603,0
11,631,0
8,816,0
14,716,0
64,446,0
22,955,0
88,981,0
1,505,0
28,297,0
12,211,0
96,687,0
36,717,0
3,344,0
8,306,0
3,614,0
104,856,0
14,718,0
3,496,0
5,834,0
14,838,0
8,841,0
3,786,0
11,665,0
4,647,0
28,931,0
24,170,0
10,578,0:
23,947,0
14,291,0
7,066,0
8,348,0,
6,539,0!
Avge. 133,650,0 210,134,2 1361,459,0
273,403,0 69,667,0 1347,261,0
Actual figures
24.6
23.3
i.——ii—Y
Change from last week.
25.7
25.1
Specie...
.
25.3
26.1
150,0
_______
-
%
.
18,294,0
34,700,0
18,856,0
52,725,0
21,313,0
177,689,0
25,774,0
6,672,0
1,749,0
9,659,0
41,408,0
111,009,0
4,658,0
19,846,0
1,380,0
612,0
1,133,0
866,0
258,0
7,586,0
2,555,0
__—.
_
Change from last week.
Legals.
Average,
Average.
Septi 9...—
Investments..
*
Banks.
not
in
the
Clearing
House.
These figures are shown in the table
below, as are
also the results (both actual and
average) for the
Clearing-
Oor. 18
banks and
House
trust
In addition,
companies.
we
for the whole of the banks and
Banks.—Below is a summary
of the Clearing-House banks of Boston
Boston and Philadelphia
have
oombined each corresponding item in the two statements,
thus affording an aggregate
1093
CHRONICLE
THE
1913.]
of the weekly totals
and Philadelphia:
_
all these figures.
We omit two ciphers (00) in
companies in Greater New York.
trust
Capital
State Banks and
Clear.-IIouse
Clear .-House
Trust Cos.
Members,
/ embers.
Oct. 11-
ended
Total of all
Hot Banks &Trust
in C.-H. Aver. Cos.
Average.
AclualFlgiires
Average.
;
Sept.
13.
20.
60,735,0
60,735,0
60,735,0
Sept.
27.
60,735,0
•
Sept.
National banks
179,900,000
State
29,650,000
209,550,000
305,760,200
74,180,500
379,940,700
Oct.
■
Sept.
Surplus
179,900,000
305,760,200
9 and
banks
Aug:
Capital
225,771,0
226,250,0
228.581.0
60,735,4
60,735,4
23.
30.
Sept.
6.
$
$
3,986,0
3,877,0
3,863,0
3,806,0
3,583,0
3,563,0
3,806,0
3,861,0
262,985,0
260,435,0
264,020,0
267,653,0
269,935,0
26.130,0
.60,735,0
4
.
233,075,0 26,747,0
234,266,0 27,577,0
234,562,0 27,541,0
234,676,0 25,528,0
60,735,0
235,512,0 26,000,0
11.
Oct.
$
S
26,928,0
27,530,0
Boston,
Aug.
Aug.
Clearings.
lation.
a
Surplus.
Week
Circu¬
Deposits.
Legals.
Specie.
Loans.
and
Banks.
AND TRUST COMPANIES.
CITY BANKS
YORK
NEW
■
9,449,0
9,623,0
9,756,0
130,225,9
111.521.7
118,804,1
138,350,1
140.839.5
132,498.4
173,585,9
158.748.8
9,971,0
9,893,0
268,850,0
279,481,0
9,791,0
9,932,0
276,743,0
9,943,0
Phlla
563,513,000 2,499,481,000
+ 1,023,200 —17,413,800
1,929,616,000 1,935,968,000
0567,635,300 2,337,821,300
1,761,131,000 1,770,186,000
Change from last week —24,030,000 —23,842,000
Deposits
330,957,000
+682,000
Specie
Change from last
week
+ 1,836,000
—22,006,000
62,885,200
—264,100
393,660,200
—4,060,100
330,775,000
—3,796,000
.
Apg.
23.
103,684 ;3
93,828,0
103,684,3
Sept.
Sept.
13.
20.
378,455,0
377,929,0
380,048,0
382,061,0
92,083,0
27.
103,684,3
103,684,3
103,684,3
103,684,3
*413,818,0
*418,260,0
*417,746,0
*425,334,0
*421,884,0
*434,192,0
*430,735,0
4.
Oct.
11.
Oct.
93,178,0
96,839,0
93,150,0
95,916,0
94,225,0
384,506,0
103,684,3
147.564.0
11,322,0
11,325,0
*408,247-,0
103,684,3
6.
370,140,0
372,246,0
375.194,0
92,851,0
30.
Sept.
.
Change from last week —13,943,000 —18,437,000
Aug.
Sept.
Loans and Investments.
140.626.8
11,304,0
147.954.9
11,320,0
11,316,0
142,125,9
160.306.1
11,316,0
11,305,0
11,296,0
164,668,9
153.865.6
198.727.7
'
Legal-tenders______—_
Change from last week
75,100,000
—1,678,000
cash in vault..._
340,913,000
68,106,500
+411,600
343,070,000
25.46%
V
84,318.500
13,237,800
14.20%
76,212,000
—564,000
356,307,800
—152,400
a
deposits and the item "due to other banks."
At Boston
amounted to $1,599,000 on October 11, against $1,507,000
■.+ ■■■•!
!
Includes Government
Government deposits
Banks:
25.45%
Ratio to deposits
on October 4.
*
"Deposits"
now
include the Item "Exchanges for Clearing House," which were
reported on October 11 as $14,279,000.
57,753,900
121,670,900
406,987,000
—4,360,000
70,991,700
+ 147,500
—4,212,500
+237,000
48,855,000
—1,840,000
16,076,400
+ 123,100
64,931,400
—1,716,900
454,786,000
—759,000
455,842,000
—6,200,000
87,068,100
+270,600
542,910,100
—5,929,400
cash in vault.
65,144,000
63,917,000
Aggr'te money holdings.
Change from last week
406,057,000
—996,000
other banks & trust cos.
48,729,000
Change from last week
Trust cos.:
Imports and Exports for the Week.—The following are
*
Money
deposit
on
the imports at New York
totals since the beginning
Total reserve
...
FOREIGN IMPORTS AT NEW YORK.
6,OS7,750
1,869,500
15%)
6,254,750
478,250
t,957,250
..
6,733,000
+ 1,138,000
.
.............
+4,262,100
Change from last week
Since January 1.
Dry goods....
i
General merchandise.
__ __
Total 41.weeks
cos.
% of cash reserves of trust
A'
Total
Cash in vault-..!.-..
15.44%
10.35%
15.11%
10.35%
25.79%
25.46%
dep. with bks.
Total
1.08%
$10,737,897
,
$19,609,954| $17,984,546
$771,861,282 $788,588,771, $683,872,982
1
I
16.33%
on
$19,008,000
$121,311,115 $117,844,365 $110,940,256 $124,672,251
650,550,167 670,744,406 572,932,726 602,142,883
15.25%
Cash
..
....
15,918,800
$2,845,856
13,892,041
$3,089,200
$2,982,492
15,002,054
$4,224,508
15,385,446
1910.
1911.
1912.
1913.
For Week.
Dry goods
General merchandise...
Surplus CASH reserve—
Banks (above 25%)
Total
for the week ending Oct. 11; also
of the first week in January:
with
Change from last week
Trust cos. (above
477,978,700
$726,815,134
l„
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
weekending Oct. 11 and from Jan. 1 to date:
+ Increase over last week.
—Decrease from last week.
These are the deposits after eliminating the item "Due from reserve depositories
EXPORTS FROM
.
NEW YORK.
'
*
a
York City"; with this item included,
and other banks and trust companies in New
deposits amounted to $622,924,900, a decrease of $2,917,800 from last week.
In
the case of the Clearing-House members, the deposits are "legal net deposits" both
for the average
and the actual figures.
6 Includes bank notes.
■.
The averages of
companies in Greater New York outside
trust
Clearing House,
compare as
follows for
a
of the
series of weeks past-'
COMBINED RE8ULTS OF BANKS AND TRUST COMPANIES
I '
!
$15,682,718
637,473,444
$691,848,212 $653,056,162
Total 41 weeks
companies, combined with those for the State banks
and trust
and
Previously reported
the New York City Clearing-House banks
IN
1911.
1912.
1913.
$13,121,933
678,726,279
For the week..
1910.
$14,092,116
596,267,800
$13,722,554
510,987,554
$610,359,916^524,710,108
following table shows the exports and imports of
specie at the port of New York for the week ending Oct. 11
and since Jan. 1 1913 and for the corresponding periods In
The
1912 and 1911:
v
GREATER NEW YORK.
We
,
omit
TotM on'y
Legals.
Specie.
Deposits.
%
$
$
2.462,176,6
9__
Aug.
»•>
Aug.
16..
Aug.
23...•W
2,325,334,5
2,330,546,9
2,333,371,3
2,348,392,4
2,365,812,1
2,348,458,8
2,350,165,6
412,417,1
88,050,5
88,048,2
Aug.
30...
Sept.
20...
Sept.
2.515,225,6
6...
Sept.
Sept.
2,469,329,3
2,492,013,6
27...
2.504,670,8
2,507,269,5
13...
•»
87,161,7
394,507,8
86,730,5
86,672,4
396,334,3
Week.
France.,
43,575,270
493,967,6
Germany
West Indies
485,603,1
561,844,0
714,000
318,951
5,171
22,448,639
1,716,515
481,180,2 553.710.0
483,084,8 550.864.6
85,516,0 487,747,3 553,981,9
4...
2,508,386,2
2,516,894,8
2,351,598,8
2,359,827,3
397,720,3
84,470,9
482,191,2
Oct.
11...
2,499,481,0
2,337,821,3
393,660,2
84,318,5
477,978,7 542.910.1
548.839.5
Reports of Clearing Non-Member Banks.—The follow¬
banks for the week
results:
■
.,;■ ■
condition of the clearing non-member
ending Oct. 11, based on average daily
We omit two ciphers
....
Mexico.
......
South America.
______
j
......
_
_
All other countries.
Total 1913....
"
Total 1912
$40~, 100
Total 1911
39,770
938,016
$§37
8,462
207,761
10,329
386,245
49,022
1,726,621
9,412,971
3,706,645
1,619,216
$653,694 $17,461,036
4,148,753 22,089,153
11,948,437
130,534
$68,778,546
32,983,485
6,958,676
Silver.
Great
$18,214
$894,965 $34,050,336
Britain...
114,146
62,485
23,041
100,489
4,550,302
5,276,004
$17
Germany
West Indies........
Mexico
South
■ ,/ /;,/
■
$49,105
I......
581.848.4
582,826,1
579,187,1
Oct.
ing is the statement.of
Britain
Great
402,231,3
*
Since Jan. 1
Week.
Since Jan. 1
582.409.5
500,737,3
500,376,0
500,467,6
86,750,5
398,872,6
Gold.
$
$
405,919,4
Imports.
Exports.
onDe posit.
87,096,4
2,469,038,7
413,640,9
413,214,3
IMPORTS OF SPECIE AT NEW YORK.
EntireRes
Holdings.
Loans and
Investments
Week Ended—
EXPORTS AND
ciphers (00) in all these figures.
two
""1*591
..........
"".39", 642
;;
1,113
54,883
—;
.......
America.-...-....
i
~"Y, 909
......
1,974,398
"87",119
1,312,946
Total1913...__..........1.... $1,010,702 $39,379,641
$143,132
1,124,989, 44,914,672
828,152 38,638,789
68,709
$8,041,875
7,267,279
130,310
6,711,727
All other countries...
(00) in all these figures.
5,750
.
'
-—if—
Legal
Disc'ts
Sur¬
and
tal.
plus.
Total 1912
On
Tender
Loans,
Capi¬
Deposit
Total 1911
Net
Bank
Specie.
with
C.-H.
Deposits.
Notes.
Invest¬
ments.
Banks.
Banks.
and
for the week in 1913, $309,450 were
$129 American silver coim , j •
Of the above imports
American gold coin and
New York City.
Manhattan and Bronx.
Washington
Heights.
Battery Park Nat...
Colonial
Columbia
.
100,0
200,0
500,0
Century
400,0
300,0
200,0
250,0
;
Fidelity
Mount Morris
Mutual
200,0
;
New Netherland
200,0
Twenty-third Ward..
200,0
100,0
Yorkvllle
'.
357,3
117,9
500,3
681.8
728,3
178,3
338.3
464.4
320,6
104.4
498.5
149,0
353,0
129,0
62,0
157,0
123,0
535,0
6,546,0
6,632,0 1,093,0
5,850,0
571,0
460,0
450,0
194,0
1,012,0
782,0
135,0
504,0
441,0
1,769,0
1,556,0
1,173,0
50,0
2,016,0
4,737,0
345,0
492,0
406,0
240,0
470,0
124,0
52,0
323,0
135,0
112,0
587,0
293,0
304,0
594,0
3,370,0
1,884,0
4,512,0
127,0
1,523,0
1,628,0
6,054,0
6,824,0
6,676,0
1,106,0
2,428,0
4,772,0
3,410,0
2,061,0
5,021,0
Brooklyn.
iattfting and ffitiatijcial.
115 Issues of Listed Stocks
The
are
classified by us as follows:
In vestment ^SemiInvestors interested in stocks can obtain
of this circular free of charge by sending for Circular 614,
issues
Investment. Speculative.
a
copy
"Railroad and Industrial Stocks."
300,0
First Nat.....
Manufacturers' Nat..
Mechanics*
National City
North Side
252,0
1,000,0
300,0
200,0
706,1
928,1
3,748,0
378,0
47,0
604,0
5,720,0
477,0
333,0
777,0
646,0
134,0
1,641,0
630,0
348,0
527.4 10,599,0 1,368,0
576.5
4,625,0
547,0
187,0,
181.6
2,789,0
208,0
3,044,0
5,196,0
12,740,0
4,611,0
2,903,0
Jersey City.
Spencer Trask & Co.
43
2,174,0
93,0
510,0
54,0
550,0
1,601,0
1,484,0
11.... 6,097,0 10,824,6 85,242,0 8,777,0 4,385,0 12,840,0
Totals Oct!
4___. 6,097,0 10,824,6 85,072,0 8,556,0 3,816,0 18,635,0
Totals Sept. 27—__ 6,097,0 10,824,6 85,128,0 8,685,0 4,100,0 13,082,0
79,194,0
77,899,0
78,320,0
Hudson County Nat.
1,398,4
825.9
Third National
200,0
220,0
.125,0
______
4,213,0
271,0
433,9
3,115,0
2,555,0
208,0
99,0
667,8
288,8
4,353,0
3,480,0
208,0
213,0
543,0
434,0
PLACE—NEW YORK
Chicago
Boston
2,971,0
1,496,0
1,645,0
299,0
57,0
154,0
400,0
250,0
First National..
EXCHANGE
Albany
Hoboken.
First National
Second National..—
Totals Oct.
■
White, Weld & Co.
Bonds and
Investment Securities.
14 WALL STREET
THE ROOKERY
NEW YORK
CHiCAQO
111
f/J
DEVONSHIRE STREET
BOSTON
1094
THE
CHKONICLE
The
not
lass
Friday Night, Oct. 17 1913.
Exchange
Market and Fi ancial Situation.—Ex¬
treme dulness lias prevailed throughout the week in tlie
security markets, and if current events have had any effect
it has been to depress them.
From whatever cause, old or
new, prices have declined piore than during any week in the
recent past and this is but the continuation of a movement
which has been in progress for some' time.
There is, howover, nothing new in the general situation.
Present security
market conditions are due chiefly to the fact that the public
is inert.
That it is not buying is evidenced by the general
trend of prices, and the limited volume of busi es^ recorded
from day to day shows that it s not
liquidating its holdings.
This is a perfectly logical attitude to maintain in view of the
uncertainty in which the future cf the business interests and
financial affairs of the country is enveloped.
•"
Fortunately for all interests, the leading bankers the
country over long ago foresaw the present situation, and, by
persisting in a conservative policy that discouraged any
extension of credits which might otherwise have taken place,
are now
generally in excellent condition.
Last Saturday's
bank statement was a favorable one and although time loans
have ruled somewhat firmer a part of the week, the call loan
market has been easy and rates are practically unchanged.
Abroad the situation is, as for some time past, more com¬
plicated than here and at each important financial center
efforts are being made to increase reserves.
The Bank of
England shows no material change, but its gold holdings are
rather low, although its percentage of reserve is far above the
average for the season.
If reports are true, it would seem
that there has been more ampety on the other side than
here over the distressing Mexican situation.
If Huerta has
resigned, as reported, it may be that affairs in that unfortun¬
ate country will ere long become less disturbing than
they
have recently been.Reports from the iron and steel industry are now attracting
unusual attention, owing to interest in the effect of the new
tariff.
Up to the present writing the principal result has
been to curtail the output. • Foreign manufacturers are said
to have been endeavoring to make sales
here, but with only
limited success thus far.
Bank clea-rings are now added to
other evidences of a reduced volume of general business
throughout the country. ■'
/
The open market rate for call loans on the Stock
Exchange
during the week on stock and bond collaterals has ranged
.
1-32 for short.
Amsterdam bankers' guilders
at Paris on
25f. 27%c. low.
London, 25f. 27%c.; week's
1-16@40 1-16
25f. 30c. high,
.
_
_
Paris Bankers' Francs—
•
High for the week.
5 23 % less 1-32
Low for the week ___5
24%
_
5 20 less 3-32
Low for the week
5 20
5 20% less 1-16
_
Germany Bankers' Marks—
High for the week...
94 5-16
5 20 less 3-32
94 15-16
94 3-16
Amsterdam Bankers'Guilders—
High for the week...39 11-16 plus 1-16
Low for the week ...39 11-16 less 1-16
...
95 plus 1-32
94 15-16
94 13-16
"
,
40% less 1-32
United
40 3-16 less 1-16
States
Bonds.—Sales of Government bonds at
limited to $500 3s, coup., at
102%, and $10,500 Panama 3s, coup, at 99 to
99%.
For to-day's prices of all
the different issues and
for
the Board
are
yearly
third
rgnge, see
page
following.
Railroad and Miscellaneous Stocks.—The stock
ket has, with the exception of a
part of
tinuously weak, and the average
largest in a,long time past.
There have been fewer
exceptions to the general movement than usual, and in only
one
case—-that of New York New Haven & Hartford—has
hardening tendency been continuously shown.
This de¬
veloped, of course, as a result of permissi n by the Massa¬
a
chusetts
Public
Service Commission to issue the
proposed
$67,500,000 6% debenture bonds, to which should be added,
perhaps, the favorable impression which New Haven's new
management has created.
•
STOCKS,
Week
ending
v
Oct.
Adams Express J
Allis-Chal pf rec,
endorsements and prime 4 to 6 months'
'
Sales
-
17.
Range for Week.
.
Am
.
_.
5th pd.
pf
Coal Products
.
Brunswick Terminal .-Li 2
Lowest.
140125
Oct
80"0
14
Oct
Oct
18; 84
300|
7% Oct
220221
Chicago & Alton
200! 10% Oct
Chic St P M & O'm, pref.
200130% Oct
Colorado &* Southern.
100: 28
preferred
Chemical, pref
Gt Nor subs, 3d paid.i
_
Highest.
Oct
200130
Can Pac subs, 4th paid.
1st
Range since Jan. 1.
for
Am Brake Shoe & F,
,
.
To-day's market showed at tiiqes a reactionary tendency,
due chiefly to closing contracts on the "short side of the
market.
As a result of these professional
operations, a few
issues are fractionally higher than last
week, but about as
many are lower/and several, including Canadian Pacific,
St. Paul, Union Pacific, Lehigh Valley and
Brooklyn Rapid
Transit, close without net change.
For daily volume of business see page 1104.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
Week.
263!
Oct
125
15
94106
46422% Oct
16
12% Oct
Oct
Lowest.
Oct
Oct
84
Sept 150
12% June 19%
128
June 136%
Oct
80
7% Oct
222% Oct
212
10% Oct
130% Oct
130
28
Highest.
122
130% Oct
Oct
64% Oct
Gen
Green Bay & W, deb B.
July
6% June
8%
Aug 230%
7% June
Oct
94
June
18
150%
33
Jan
64
69
Mar
May 109%
Jan
Oct
116% June 128
11
June
17%
Aug
Oct
Aug
1912.
Averages for
1911.
Differences
Averages for
Averages for
from
week ending
week ending
week ending
Oct.
11.
previous week.
Oct.
11.
S
Capital.
Surplus
.....
Loans and discounts...
Circulation
...
•Net deposits
.
_•
_
_
.
_
...
Specie
Legal tenders
-Reserve held...
25% of deposits
133,650,000
210,134,200
1,361,459,000
44,750,000
1,347,261,000
273,403,000
Dec.
Dec.
14.
S
133,650,000
135,150,000
199,887,600
196,020,300
15,670,000 1,329,780,000 1,366,875,000*
•
46,171,000
50,099,000
Dec. 19,217,000 1,322,998,000
1,382,547,000
Dec. 3,030,000
262,170,000
69,667,000 Dec.
(>10,000
Dec.
3,64^,000
336,8|5,250 Dec.
4,804,250
*#43,070,000
Oct.
.
97,000
74,388,000
283,116,000
72,892,000
'
336,558,000
330,749,500
356,0*08,000
345,636,750
•
Surplus
reserves....
6,254,750 Inc.
1,164,250
5,808,500
10,371,250
Note.-*-The
Clearing House now issues a statement weekly, showing the actual
on Saturday morning, a3 well as the, above
averages.
The
figures; together with the returns of the Separate banks and trust
companies, also
the summary issued by the State
Banking Department, giving the condition of
State banks and trust companies not
reporting to the Clearing House, appear on
the second page preceding.
"
i'
condition of the banks
State and Railroad Bonds.—Sales of State bonds at
the
are limited to $1,000 New York Canal
4s, 1962, at 99.
In the market for
railway and industrial bonds a little
more activity is
noticeable, but, as was the case last week,
Board
prices have had
a downward tendency.
Of a list of 20 active
only one shows a fractional advance.
Declines, on
the other hand, are in several cases from 1 to 2
points.
issues,
Rock Islands have been
exceptionally weak, especially to¬
day, in sympathy with the shares, the 4s showing a loss of
2% points. Southern Pacific conv. 4s are down 2 points,
also in sympathy with the shares.
Union Pacific conv. 4s
have lost 1% points and other issues a
point, more or less.
Foreign Exchange.—Sterling exchange has ruled quite
during the week, owing to the pressure of grain and cot¬
ton bills, which have offset the
relatively higher rates for
money existing abroad than at home.
easy
To-day's (Friday's) actual rates for sterling exchange -were 4
8135®
4 8150 for sixty days, 4 8540@4 8550 for cheques and 4
8585@4 8595 for
Commercial on banks 4 78% @4 80%
and
cables.
ment
4 80% @4 81%.
Cotton
payment 4 81% @4 81%.
•
91
Oct
91
Oct
96
Oct
150
Oct
150
May
180
200107
Oct
107
Oct
100
Mar
Int Ag Corp, pf, vtc.
200
31% Oct
23
July
Sept
documents for pay¬
for payment 4 80% @4 81 and grain for
'..
Oct
KCFtS&M, pref....
200
31% Odt
57% Oct
Mackay Cos., pref.
300
64% Oct
Nashv Chatt <fc St Louis
100 135
N Y Chic & St Louis..^
New York Dock.
Norfolk
100
53
Oct
•
Oct
57% Oct
66% Oct
135
Oct
53
Oct
80
Oct
_
Southern..
Ontario Silver Mining.
Sears, Roebuck & Co.,pi
Sloss-Sheff S & I, pref..
So Pac reets, 1st paid...
100
10
Oct
10
Oct
100
25
Oct
25
Oct
25
Oct
40
Oct
40% Oct
40
Mar
50
2% Oct
30120
100
Oct
89% Oct
87
120%
90
2% Oct
10
2
Oct
Feb
Jan
Jan
Mar
Jan
10
Oct
25
Oct
47% April
97%
April
3%
Feb 125%
89% Oct
88
April'
92
120
Jan
78
Jan
63%
Oct 69
64%
April
Jan
132% June 170
51
Jan
July 63%
700
..
Preferred
Oct
80
Oct
Jan
Jan
23% June
Oct
(G W).
Jan
Jan
Mat
104
100150
Preferred
Sept
Oct
100! 80
loo; 91
Havana Elec Ry L & P.
Helme
.Jan
Oct
64%
107%
122%
12%
Homestake Mining
1913.
mar¬
to-day, been con¬
decline of a long list of stocks
is the
.
(Not Including Trust Companies.)
'
.
40 1-16
40%
Domestic Exchange.—Chicago, 10c. per SI.000
premium.
Boston,
par.
St. Louis, 10c. per SI,000 discount.
San Francisco, 20c. per $1,000
premium.
St. Paul, 15c. per $1,000 premium.
Montreal, par.
Min¬
neapolis, 15c. per $1,000 premium.
Cincinnati, par.
.
BANKS.
range,
Exchange at Berlin on London, 20m. 46%pf.; week's range, 20m. 47%pf.
high and 20m. 46pf. low.
The range for foreign exchange for the week follows:
Sterling, Actual—
Sixty days.
Cheques.
Cables.
High for the week...4 8175
4 8565
4 8615
Low for the week
.4 8135
A 8540
4 8585
-
single names and 6 %
@6/4% for good single names.
The Bank of England weekly statement on
Thursday
showed an increase in bullion of £275,197 and the
percentage
of reserve to liabilities was
54:30, against 52.79 last week.
The rate of discount remains unchanged at
5%, as fixed
Oct. 2.
The Bank of France shows an increase of
1,951,000
francs gold and a decrease of 359,000 francs silver.
were 40
plus 1-32 for short.
Money
.NEW YORK CLEARING-HOUSE
xcvii.
The posted rates for sterling, as
quoted by a representative house, were
changed during the week from 4 82% for 60 days and 4 86% for sight.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 23%
less 3-32@5 23% less 1-16 for
long and 5 20% less l-32@5 20% for short.
Germany bankers' marks were 94 3-16@94% for long and 94 13-16@ 94%
uzziU.
Wall Street,
[Vol.
Oct
98
Oct
Jan
Jan
800
90
100
42% Oct
400
97% Oct
42% Oct
98%;Oct
10
46
Oct
46
Oct
Virginia Iron, Coal & C.
Oct 99%
91%
40% June 50%
96
July 105%
40% Aug 66
300
41
Oct
43
Oct
37
54
Vulcan Det inning *
July
235
52
Oct
53
Oct
49
Oct
90
Jan
530
88
Oct
89% Oct
Sept 125
April
United Cigar Mfrs
...
United Dry Goods, pre!
U S Express.......
Wells, Fargo & Co
Outside
market
pref.
Market.^-The
Oct
week's
Oct
business
86%
in, the
Sept
Feb
Jan
Jan
Jan
outside
again of small proportions, active trading being
Except for flight rallies on
one or two occasions, prices
sagged generally, the result being
a lower
range Of values.
United'Cigar Stores com. dropped
from 91% to 89, sold up to 91% and weakened
again, reach¬
ing 88% to-day.
The close was at 90.
On the sale of a few
shares the pref. lost 3 points to 111.
British-Amer. Tobacco,
old stock, weakened from 25% to
24% and recovered finally
to 25.
The new stock moved down from 26 to
25%, re¬
gained all the loss and ends* the week at 25%.
Tobacco
Products pref. on few transactions,
yielded a point to 88.
Anglo-Amer. Oil moved up from 21 to 21%.
Standard Oil
of N. J. lost 5 points to 374,
closing at 375.
Lehigh Valley
was
confined to the Tobacco issues.
Coal Sales sold to-day up from 200 to 208 and down to 207.
Willys-Overland com. lost a point to 65.
In bonds Bklyn.
Rap. Tran. 5% notes eased off from 96% to 96%.
Copper
shares were dull and lower.
Braden Copper was off from
7%
to 6%, the close to-day being at
6%. British-Columbia
Copper sold down from 2% to 2%, First National receded
from 3% to 2%.
Kerr Lake held steady at 3% and 3 15-16.
Mason Valley was traded in down from
3% to 3% and back
to;3%.
Goldfield Consolidated advanced from 1% to 1%
and closed to-day at 1 7-16.
Outside quotations will be found on
page 1104.
1095
Daily, Weekly and Yearly
(New York Stock Exchange—Stock Record,
OCCUPYINQ TWO PAGES
of stocks usually inactive, see preceding page
f
For record of sales during the week
the
EXCHANGE
Tuesday
Wednesday
Thursday
Friday
Week
tonday
Oct. 13
Oct 14
Oct 15
Oct 16
Oct 17
_
92
98%
9334
92%
22 534 22734
320
♦295
"86"
8614
857S
86%
855g
2253a 228
♦295
56
12
134
134
128
11
100%
*132
134l2
127
*170
182
46
36
*36%
46
*35
3612
"""266
100
♦GO
75
*60
75
60
60
♦50
75
♦153
155
♦152
159
♦150
160
*150
160
1734
1734
♦5%
26l2
27%
263$
41%
4118
4134
33
33
11
27
41
33
*5i2
♦10
11
*10
27
41%
34
IO8I4
106
1334
13%
1312
13
665a
57%
58i4
56I4
2312
5612
24
5612
67U
23l2
*712
10
108
♦16
149
132
16
*35%
16
*1412
40
'
145
20
287a
28%
2878
28
♦31
39
*31
38
•31
12
40
12
11%
9384
1855$
11%
95i8
8578
♦1012
1212
94%
88
271a
9512
9434
887$
2712
27%
10234 10278
95
86
275a
87%
1023a 103
ill
11138
286
89
87%
♦100
107*18
♦
159'4 161
11034
84
•82%
84
*82l2
92
*86
92
♦85
21
2U4
♦5
♦7
21%
*5
6
§13
13
6
1712
914
*7
712
•22
25
66i2
*56
4534
85i2
87i2
86
903a
91»4
905$
867g
9034
21
215a
21
7412
75
74%
18%
16l2
"""306
•4512
851$
♦906$
2H4
46%
45U
45%
300
865a
84l2
9H2
21U
887S
86
9014
213$
751s
*75
76
75
75
1514
3834
11%
*45l2
♦12
♦12
3712
38
38
12
115$
1514
36
383a
•10
1H2
23
♦15
23
♦18
♦104
108
♦104
*l2ij
18
♦17%
38
♦3134
3%
*91$
34ia
312
3%
♦9
11
341j
35i2
4
4
*3%
*341$
4
4
20
*15
20
10
♦6
10
*7
50 *
43
43
44
44
*90
93
♦90
93
7212
*42
46
22i2
90%
♦88
213$
♦67
75
303$
3334
305a
92
9334
921$
923a
42
42
42
42
114
114
§114
114
36
36
♦36
♦64
2Ha
*81$
36
36
36
950
64l2
3834
♦6334
38
96i2
♦921$
96
2H2
201$
*81$
914
81$
77$
30l4
*30'a
31
30
94
94
♦94
90
95
2934
3014
95
§96
5U
6
♦51$
7
♦5%
*514
545
45
45
45
•42
44
•4H2
♦8U2
83
81
81
§801 j
616$
993a
8012
♦8012
62i2
6H$
617a
9912
*150
62l2
62U
99lS
9912
♦153
165
63
99i2
165
♦156
Banks
Ask
175
182
Chelsea ExY-
130
150
Chemical
380
400
Fifth
145
Citizens'
170
178
First
365
370
Fourth
Park
425
BoroY
225
260*
Coal A
Nat.,
175
190
Colonial Y
iryant ParkY
150
mtch A Dr.
120
135
Jentury Y
195
205
ironx
tronx
ihase
*
—
......
625
City
Iron.
—
Columbia 1..
650
*
Commerce
__
Corn Exch 1.
Cosmopol'n H
East River..'
160
Jan
0
Jan
68% Apr 23
43
Feb
60
Feb
Jan
•
$243$ Oct
2
8012 Sep 16
50*2 Jan
2
33l4J'ly 2
6OI4 J'ne 28
331* J'ne 12
92i2 Sep
2
3i2 J'ly 9
15ia J'ne 10
17
J'ne 10
678 J'ne 10
American Linseed..
Do
preferred
J'ne 10
Do
preferred..
American Malt Corp..
Do
preferred.
230 Amer Smelters Sec pref B
94
Oct 10
5U Oct 17
Oct
3
100
88
Mch
Refin'g
54% Dec
J'ly
98
46% Deo
6
117
.
49
Feb
115
Mch
Feb
30% Oct
75% Aug
45% Jan
2734
11%
31%
44i2
Apr ' 4
18
Jan
Jan 31
Jan 31
Jan
C
IO684 Jan
9
Mch
30
Feb
_
13
95
Jan
3
Feb
20
Feb
3134 Feb
86
Jan
Jan
103
Jan
791* J'ne 12
68I2 J'ne 10
150
11% Feb
90% Feb
48'4 Jan
78i* Jan
673$ Jan
9684 Jan 10
61$ Jan
8
28*4 Feb 10
434 Jan
42
_
J'ne
6
7484 Jan 30
107
Feb
7
J'ly
9
193
Jan 22
Jan
84
61% Jau
97
Nov
90
467$ Jan 31
1291* Jan 30
66*8 Jan
2
45
430
Banks
Bid
Ask
Banks
Bid
Harrlman
285
300
Mt Morris Y.
500
Deo
66% Deo
10238 Jan
Mch
123
290
Banks
Seaboard....
Liberty
175
Lincoln
Manhattan
......
Second
515
Mutual Y
185
Nassau
195
200
Security Y
630
New NethY--
210
225
Sherman
330
Irving
960
175
615
325"
940
168
.......
Ask
270
Ask
175
350
New York Co
850
875
State Y
822
New York
395
405
23d WardY
.....
....
—
105
60
75
220
250
Y
312
137
143
Mark A Fult.
230
240
Pacific Y
255
205
Union
Y
375
425
Mech A Met.
223
228
Park
353
358
Wash H'ta Y
450
475
Merch
230'
..—
German Ex
Gotham
625
J Ex-rights.
* First
| Less than
635
155
People's Y
250
Westch Avu-
175
185
Prod Exch Y-
165
170
West
Metropolis Y-
250
Hanover
—
Exoh.
Merchants'
170
Greenwich Y.¬
3Y2"
Exchange or at auction this week.
Jan
3
14
GermanlaY—
285"
85
Bid and asked prices; no sales on this day.
f Bale at Stock
Dec
4
11
Germ-Amer Y
1185
307
preferred
American Ice Securities..
300
.
Garfield
165
450
240
45
3
Imp A Trad.
Bid
220
lowerytl—-
2
Jan
COMPANIES—BROKERS' QUOTATIONS.
565
lattery
'
.
Snuff
Jan
8
28*a Jan 13
2
36i* J'ne 10
J'no 10
preferred
American
171$ Aug 13
3
108
Cities
330
99
334 J'ne
12% j'ne
Jan
80i2 J'ne 10
J'ly
J'ly
57
Jan
27
165
23
Aug 12
57
J'nell
Dec
88% Oct
■
99
1934 J'ne 10
70
Aug 14
J'ne
15034 Dec
5
21
Can
10,260 Amer Smelting 3c
560
Do
preferred
28
103
90i2 Oct 16
41i4 Sep
American Locomotive...
96
5i4
44l2
8H2
62
555
Cen
615a J'ne 10
Oct 17
2934
215
135
ji.9% Sep 11
9
Sep
Jan
Jan
Jan
Jan
46
i
20
600
Exch__
.merica If
200
2,350
99
Banks
Ask
1,900
165
FldeLtyY
Fifth AveY— 4500
New York
.mer
Bid
Chat & Phen.
Bid
Banks
""200
207g
77a
*156
993g
165
BANKS AND TRUST
,»
21
8
J'ne 10
40i$ j';ne,li
American Hide & Leather
20U
,20
27
30
7
•
207a
81a
•20
25
♦19
19i4
2n2
Jan
6
Miscell.
1,300 American Cotton Oil
Dq
35%
63%
J'nell
37s May 1
13
J'ne 11
7
Oet
3
preferred
Do
16234
93i2
j'nell
32
preferred
Do
200
19U
22
♦20
371*
"*4"' ~4~%
4i2
♦4
4%
21%
22
Do
200
3712
64
38
*20
914
American
13
Jan
68% Feb
20% Jan
331* Deo
10% Deo
8
2934 Jan
109
J'nell
6i8J'ly
American
64
*4
&
"20%
2
433a Sep 23
2
preferred..
103% Dec
81-2 Mch 26
22*a Jan
16
Western
Dec
18
30
28*a Jan
30
United Rya-Jnv't of S F._
Do
preferred
Wabash
American Car & Foundry
Do
preferred
....
950
64
.
(NY)
450
41%
114
381*
1914
2H2
22
,
114
*9218
4%
19U
411$
42
1141$
36
39
96%
♦4
903$
93
4U4
♦110
37l2
.
♦64
6434
39
♦92%
315a
30lS
9034
3214
80,870
4,570
Jan
99% Sep 13
4
277a J'ne 10
7i8 J'ly
9
1514 J'ne 4
101i8 J'ne 6
13734 J'nell
79»4 J'ne 10
...
31%
91
3034
110
10% J'ne
preferred
Do
63% Jan
4434 Deo
19*8 J'ne 12
J'ne 10
Gold Mln Par $10
22% 15,900
153,110 Amalgamated Copper
72
100 American Agricul Chem.
44
Do
preferred
200
93
American Beet Sugar....
1,000
21%
Do
preferred
75
213$
'
Do
9
75
72
Pacific
Union
Jan
58% Dec
26% Deo
2934 Jan
20s4 Apr
1
493$ Sep 23
887$ Oct 17
tf Alaska
70i4
♦43%
Sep 17
141* J'ne 10
J'ne 12
Pacific
Industrial
40
♦67
75
*67
75
11
2134
7214
23.
23
23i4
23%
♦67
♦7
2H2
705$
♦43i2
90i2
44
22
21%
69%
18
22
21*4
71%
2214
71
♦40
61
223$ Deo
42% Dec
17% Dec
3512 Jan 13
Maryland
370 Wheeling & Lake Erie.,.
Do
1st preferred
Do
2d preferred.....
600 Wisconsin Central
412
♦334
Oct 15
Dec
92
Jan 11
23
'
Feb 11
29
iss.)_
ctfsstmpd.
preferred
do
Third Avenue
200
2,000
46
„
'""466
914
11
*42
♦42
4%
*12
59
J'ne 17
....
4134
91$
20
•15
*5
200
4i2
♦31*
•15
2,920
40
•34
4434
234 J no 17
J'ne 28
v tr
148% 183,000
♦312
434
11
39l2
*31$
♦9i8
11
34%
2478
51*
107
22l2
95
13
104
81s4
1934
921*
1153 Oct 17
17i2 Oct 17
City Rapid Transit
80l2
108% Jan
148% Jan
87% J'ne
8412 Oct 17
Twin
♦32-
....
98% Jan
Sep 18
Sep 23
Apr 10
Apr 10
Feb 4
Jan
2
Jan 11
Southern Pacific Co
600
♦17
22%
♦32
Jan 11
8212 Oct 14
J'ne 10
Toledo St L & Western..
Do
preferred.
82
82
*1712
22l2
18
♦32
104
J'ne 25 §109
171
84
147
147l2 150
149% 15D8
82
8212
1485a 1503a
8212
82l4
♦
7
Certificates (wh.
J'ne
88
115% Jan
1197$ Dec
6
12334 Jan
100
22
♦7
106
122*8 Jan
1067$ J'ne 4
*86
Oct 15
1st preferred
2d preferred
Texas &
297$ J'ne
110734 Feb
3
10134 J'ne 10
preferred
preferred
Do
62% Oct
26% Oct
106% Dec
126
Dec
Feb 13
87
8OI4 Aug 16
38
13", 850
1U4
3534
113% Jan
J'ne 10
98
1513a J'ne 10
Southern
3
2
1297$ Jan 10
3378 Jan 11
25ia J'nell
...
35
9
Oct 17
J85
Dec
>
25% Dec
573$ May
J'ly
Apr 11
Mch
59
Feb
Feb
140
10934 Jan 30
....
4,010
1,250
1514
367$
♦15
23
108
♦10412
.
129
2712 Jan
J'ly 17
9
§40,
9312 Oct 17
Seaboard Air Line......
Do
preferred
81,590
1,626
2H$
17
46
*10%
♦20
6612
17
213a
17%
pref.
18% J'ly
Jan
9
Jan 22
Jan
7
43*8 Jan
25% J'ne 10
35
J'ly 25
Dec
1287$ Dec
_
Jan 29
47
142%
115% J'ne
J*ne__ §150
29i8
18i8 J 'ne 10
64i2
52
J'ne 10
St LouIb Southwestern..
200
Do
preferred
23
*22
♦56
*66
18i2
728
Jan
30
132*8 Feb
23% Jan
133
preferred
Do
Do
11% Jan
5
126% J'ne
J'ne
12
J'ne
32
J'ne
127
St Louis & San Francisco
25
May
56
7
Jan
138
Rock Island Company..
Do
preferred...
100
•
71i
7%
.
661*1
in2
23
66l2
8,100
6
20
23
23is
♦171a
4534
15i2
♦5
7«s
71$
*56
♦13
17%
♦13
20
*13
1st
19*8 Jan 30
1557$ Feb
Reading
2d
120% May
I6I4 Dec
533$ Jan
22% May
142U Jan
Pittsb Cin Chic & St L_.
300
.Tan
16S38 Jan
Western.
Pacific.
Jan
36
28% J 'ly 28
35
Dec
126
65% Jan 30
2034 J'ly
Pennsylvania
16",400
1314
20
115$
1312
20i2
6
1278
19I2
♦514
1312
13l2
2H4
1314
231$
Northern
4
61i2Jan
1U2 Feb
Dec
14114 J'ne
Western
Do Adjustment pref
92
13
•121*
N Y Ontario &
12878 Feb
Deo
38
9
3
5
213a J'no 5
56
J'nell
7
May
Norfolk &
269",760
84
♦86
14
30
47i2 Dec
4
123a J'ne
J'ne
45
pref
Do
1581$ 160
♦80
41i4 Jan
N Y Central & H R
♦9934 117
92l2
132*8 Jan
25i2 J'ne 10
104i4 Apr 1
;
Nat Rys of Met 1st
Do
2d preferred
800
85
2
2
6
Jan 30
115i* J'ne 10
Missouri Pacific
14,535
110
♦
89
8i2Jan
16% Jan
321* Jan
41
Missouri Kan & Texas
Do
preferred
"12", 130
Aug
3414 J'ne
8
Sep
Jan 10
41
49i2 Jan 30
Minn St P & S S Marie..
Do
preferred
90
1051$ IO6I4
84
82l2
*89
2,550
Dec
18i2 J'ly
9
33i2 J'ne 10
Manhattan Elevated
900
Deo
162
630
.8% J'ne 10
23,372
N Y N H & Hartford
7,000
10218
♦81U
105U 1065a
110
IIH4
86
..
""706
27
102
♦100
117
♦9934 117
1583a 1605a
160% 16134
120
25
7,005
85i2
27
90
•81%
106%
10534 10612
1107a 1113a
"i",5l6
1H2
945a
85
1021a 1021a
88
♦81
93i2
27
27
1,500
58
95
1st preferred
150 Minneapolis & St Louis._
Do
pref
150
281*
39
28
28l2
100
1934
1934
*54
56
§56
23% Jan
Nov
4514 Dec
2d
Do
145
*134
1914
19%
58
6
Do
12~ 100 Lehigh Valley..
3 000
3,000 Louisville & Nashville.
148l2 14912
188
J'ly 11
10
Lake Erie & Western....
Do
pref
22
♦16
148
♦135
19i2
19%
♦54
68
12
43
130
*135
148
28
'
130
13034 132%
150i2
Jan
Jan 21
Do
100
10
1301$ 131
13012 131
132
12934 12984 *128
1412
14%
♦14i2
16
35i2
35%
*35% 43
127
126
128% 127
♦131% 132
*35l2
♦31
57l2
Jan 11
993$ J'ly
13314 Dec
134i$ Dec
20U J'ne 10
Erie
2,500
9,370 Interboro-Metrcp v t ctf.
Do
pref
19,900
Kansa City Southern.._
2,600
2314
♦712
♦16
*1412
19»4
•55%
23
♦55
10
22
30i2 Dec
9
Jan 30
9434 Jan 16
167
Jan
8
445
Jan 13
133* J'ne 11
23
J'nell
5
J'ne 4
....
Il-inois Central
58
9
Jan
54
J'uel2
390
preferred
500
Great Northern pref..
5,500
Iron Ore properties
1,750
1334
57i2
♦712
151%
♦129
♦138
1234
23
,
pref
Jan
35
147ij J'nell
Hudson
Duluth So Shore & Atlan
Do pref..
2,700
IO6I4
105
56
♦56
10
1501*2
17",300
34
13h
5734
2358
22
1503a 152
1311a 132
4034
10734
57i2
*7%
200
263a
41
*33
235a
*57
,
Do
230
512
11%
2512
34
13
1081a 108'4
30
512
♦10
*1201$ 12112
122l2 124
30l2
31
3034
3112
313a
31%
177$
612
2534
4U4
36
*33i2
12334 124l2
123% 124
3078
3114
17%
30
*30
6
*5%
6
11
♦10
33
*30
32
♦28
pref..
Jan
6SI4 Feb
155$ Dec
9
116%
98% J'ne 10
13134 Sep 18 145
138
123U J'ne 10
181 * May23 §189.
3478 Aug 26
60
Oct 16
140 Delaware Lack & West..
600 Denver & Rio Grande
40012 40012
400l2
40012 *390
18 ;
*1734
19
♦1734
*390
Do
Delaware &
76% Jan
220% Mch
305
1778 Jan
10% J'ne 4
23
J'ne 10
Cleve Cin Chic & St L
JIOU4 Feb
8618 Aug
26634 Jan
9
362
Jan 13
80
Jan
2
5Ua J'ly 11
Chesapeake & Ohio
103i4 Feb
1013$ Jan
*13034 Dec
9234 Alay26
J'nell
275
1,500 Chicago & North Western
Do
pref
182
*170
90% J'ne 10
7714 J'ne 18
.•833,1 J'ne 10
208i2J'ly 9
20,505 Chicago Milw «fc St Paul.
Do
pref
I.
500
9912
13134 132'S
126l2 12634
9834
128
182
112
1,470 Chicago Gt West tr ctfs
Do
pref trust ctfa
130
26%
§2634
31
09
12778 128l4
♦170
46
*30l2
11
"8.000
56l2
11
*26l4
133
133
1281S
182
♦175
pref
i
5,600 Brooklyn Rapid Transit.
Canadian Pacific
86,550
320
♦290
Ohio.
&
Do
6
10214 Jan 29
1333a Jan
9
1063g Jan 22
88
Jan 10
106% Jan
9034 Oct 17
96
J'ly 9
J'nell
/
.....
Central of New Jersey...
553$
11
27
10034 1013a
101
Baltimore
130
.
56%
55%
113a
llt4
§27
27l2
100
6,690
80
pref
Atlantic Coast Line RR.
1,673
93
8534
86
2221$ 224
320
*295
57
♦26%
86*18
22334 22534
320
56
5512
lli8
113l2
923a
113
81
581
Do
410
80
94
93%
92
98is
907a
§98
116
*115
116
116
9034
98
11334 115
923g
9284
9834
9178
93i2
9834
93*8
985*
Lowest
Highest
Lowest
Railroads
27,000 Atchison Topeka &SF..
Previous
Year 1912.
100-share lots
of
basis
On
Shares
92%
Range for
1
Range Since Jan.
STOCKS
NEW YORK STOCK
Sales of
AND LOWEST SALE PRICES.
STOCKS—HIGHEST
325
350
PubllcY..—
250
300
YorkviUe Y—
Metropol'n Y
180
190
Reserve
150
84
„
SideY-
88
H Stato banks, a Ex-div. A rights. 5 New stock, f E3, 24% aceuao.
» Bold at private sale at this price, s Ex-div, I Full paid./"
100 shares.
installment paid,
Exch.
dir.
1096
New York Stock
Record—Concluded—Page 2
For record of safes during the week of stocks usually
inactive,
STOCKS—HIGHEST
AND
LOWEST
SALE
PRICES.
Sales
STOCKS
Range
the
Saturday
Oct.
Oct.
13
105
*26
Tuesday
Oct.
11
*99
*
Monday
28
♦99
230
*20
16*2
3478
81
44
2784
19
19*2
•90*2
9212
39*8
3958
28
28
75
♦74
123
74
74
81
129
130
♦65
♦73
912
6612
♦26
52
♦50
19%
♦89s4
95l2
19l2
03
18*2
62
05*8
19*4
00*2
38*4
27*8
95*8
19*2
'
0o*2
39
27*2
39
9
*129
9*4
07*4
1384
♦11
14
♦12
14
•38
41
♦96»4
138s
14
•38*2 41
141*4 141*4
38*2 39
81*2 81*2
2484 2484
~19%
20
91
65
65
♦967s
97*4
14
*11
14
24
♦88
43
1514
38*2
81
24
90
43
38*2
8078
90
♦87
•43
♦88
15l4
44
15
105
90
87
115
♦1138s 115
27% 27*2
128% 128*2
9
87g
♦64l4
967j
15
67
9678
1578
♦11
14
♦36
38
78
20
88
78
2084
87
87
43
15
102
15
15*4
1015s 1015s
1131s 115
*113*8 115
♦
•6*4'
♦23*4
30
♦78
102
104
10438
102
♦100
102*8
114
*113*2
*113
116
*11312
3*s
♦3*4
4
4
♦3*4
3*2
•3*4
•14*4
15*8
♦13*4
15
15
♦1378
15
♦135s
*6*2
*0*2 x7*2
7*2
678
678
678
6%
♦32
"$4
34
32*8
32*4 *32
♦32l2 35
♦6
7
♦6
7
*6*4
7*4
7
♦6*8
•23
30
24
24
♦23% 30
*23*4 30
86
•78
80
♦79
*100
.*3
l
4*4
16
-
1
♦6U
7*2
*30
*100
...
.
34
7
85
109
♦100
109
»76
82
•79
84
♦77
84
\ *98
100
♦97*2 100
♦98
100
*30
40
*98
102
*78
1
,
f
31
♦78*2
♦98*4
♦30
38
"
86
*79
109
♦100
♦100
84
*78
82
9978
98*4
♦30*8
108*2
100
♦98
102
100
*208
220
450
115*2 *106
♦30
100
♦95
100
*95
100
♦95
100
♦95
85
♦85
♦156*8 165
♦156
165
♦156
165
*156
*109
111
♦109
111
♦108*2 hi
66
66
65
65
♦62
66
*98
102
♦98
102
♦97
102
♦97
102
65
64
64
65
6$%
225s
635s
22
22%
120
120
•116
120
•10
12
♦79
45
67*2
71
71
195s
195s
26
20
26
90
*24
65
♦62
♦63'4
2218
123
20*8
8778
25
*19
28
122
21
89«4
111
21%
118
118
20
♦25
12234 123*2
21
22
♦109
118
22
118*8
24
15*4
•57
28
•25
28
123
124
21
20*8
86*4
20%
86*4
25
24
24
♦97
99
♦97
100
♦96
98
§98
98
•107
117
•107
117
♦108
117
150
150
152
152
24
04
18*2
25l2
•93
97
♦92
1868
18*8
•19*4
19*2
96
1858
18*2
78*2
78*2 78*8
2012 2012
(*46
50
11791s 180*2
f*29
32
;
*20
185s
19*8
78*4
80
15*8
15%
65
75
19%
25
19%
25
23»4
23%
1,050
96
♦91
185s
19l4
78l2
19
78*4
♦20
52
♦45
19
77*2
23
50
176*2
18*4
20*8
§48
18%
19%
78*4
20*8
95
18*8
18%
18%
77*2
78
20
20
18%
48
♦45
170
171
29
•29
32
28
29
34
♦31*2
34
♦31*2
34
2778
♦31l2
29
♦31*2
♦60
64
♦60
64
♦59
64
♦59
64
♦59
*21
22
21
21
♦20
21
♦20
21
20
•
.
*74
»•
78
30%
.
29
i
34
574*2
28*4
3044
7412
30
♦74*2
77
78
♦74
30
29*2
29%
29%
20*2
74
74
♦29
29*4
•108
111
108
110
♦107
110
107
109
107
107
*88
90
•84
93
•84
89
♦84
90
♦84
♦105
110
*4*s
t
22
i *10*|
1212
•46
;
♦104*2 10734 ♦104*4 107% ♦104
107*4 ♦104
107%
♦4*8
.4%
4*4
4*4
4*2
4*2
4*2
4l2
•20
22
•20
22
21
~
21% 21%
♦10*2
12*2
§10*2
10*2
*10*2
10
12*2 §10
6
1*20■
l
49
56
-
62*4
•
1
>; ?•
Ify;
,
[1057s 106
i
1105*2 .105*2
i 51*2
617s]
{
60l»
•107
58*2
"63u
105*2 105%
51%
62*4
105
51*4
28«4
64%
103*8 103*8
105*2
60%
52
28
28
27*2
28
•93
J
A-
913s
v
«~
96
95
95
94
04
60*4
61
61
60*4
60*4
60
61
65
66
64
66
63*2
65
117
♦107
117
*110
117
♦107
96
.
905s
89%
91
91*4
88%
90
•11112 113*2 •111*2 113*2 •111*2 113
I
113*2
♦110
BANKS AND TRUST
Bid
Bank.
; r Brooklyn
Coney Isl'd 1
First
.......
"Flatbush
Ask
800
280
m
„
„
.
.
145
125
HlUaldeU
fManulaot're
;MeohanloF1_
Ask
Trust Co's
National City
North Side 1.
273
285
Central Trust
80
175
200
145
155
425
125
-
«.«.«.
205
Bid
Ask
985
1000
445
460
81
$16% Dec
Sep
109*2 Sep
cS62%J'ne
$21*8 Oct
Oct
7
19% Jan
12% Jan 30
.
48% Jan 30
18% Jan
9
May 5
*
Mch
,4
77s Mch
15% J'ly
9% Jan
x45% Jan
12
26
Mch
19% May
627g May
Deo
34
70
Jan
9
63
Dec
J'ne 11
94
Feb
3
90
Dec
84% Apr
95% Oct
110
J'ne 10
102
83
Jan
2
Sep 15
4
104*2 Jan
8
J'ne
6
235
6
Mch
116*2 Jan 23
21
J'ne 11
Aug 4
J'ly 18
J'ne 13
200
J'ne 10
116*2 Jan 22
Oct 14
767sJan
2
105% Jan
2
78% Feb 4
26% Jan
4
130
Sep 18
3978 J..n
J'ne 11
4
0
Jan
8
Jan 28
May29
6
J'ne 10
J'ly 16
82% Jan
J'ne
20
Jan
2
81% Jan 14
31% Jan 22
J'ne 10
46
J'ly 10
9% J'ne 10
44*8 J'ne 6
65% Oct 14
53
J'ne 10
98
76%
49%
102%
39%
22
93
J'ne 10
Jan
J'no
J'ne
J'ne
3
11
10
10
J'ly
1
J'no 30
68*2 J'ne 10
53% J'ne 10
10778 J'ne 13
81% J'ne20
109
J'ne 14
Oct
167
118
Aug
47% J'ly
105% Nov
02% Oot
Mch
215% Oot
118
Apr
88
Oct
105
Dec
112
Jan
62% Apr
$23% Feb
00% Oct
$30% Sep
114
Dee
161
Apr
122
Deo
131
J'ne
12% Feb
26
Oct
9612
68%
11078
$24*8
Jan
Feb
88
61% Jan
105% Feb
$18*4 Jan
50
Feb
85
38
$24*8
35
Oot
Dec
55%
Jan
122%
27*4
10034
4078
103%
12078
36
Jan
7
Jan 21
165
Jan
2
35
Jan
9
100
22
2
28% Jan
92% Sep
92% Jan
99% Jan
213*2 Jan
45% J'.n
40% Jan
66% Feb
31
Feb
6
36
,
4
Oot
49%
98*8
$47%
130%
115%
114%
177s
67%
22%
64%
86*2
677g
Aug
95
Dec
-
110
J'ne
4% Jan
25% Dec
13
_
Jan
2
115*? Jan
8
Jan
67
Jan
•
Feb
50
Jan
45% Feb
105*% J'ly
75
Aug
May
Sep
J'ne
Sep
May
May
May
Oot
J'ly
May
116
May
85*2 May
80% Sep
Jan
81
119% Jan 17
112
Dee
66
Nov
69% Sep
$34% Feb
75% Jan
79% Jan
86
Jan
J'ly
90% J'ne
109% Apr 9
81*2 Jan
9
69*8 Jan
2
110% Jan 30
60% Jan
2
43% Jan
114
NOV
221
30
9
Jan
68% Feb
107% Dec
$52% Jan
117
■*
Sep i
$67% Sep :
40*4 Deo
1147a Deo
71% Deo
67% Jan :
122
Mch
86*4 Jan i
89% Aug :
66% Jan
11478 Jan
112% J'ly
93%J'ly
126
Aiyp
11778 Oot \
1163^ J'ly
Trust Co's
Hudson
....
A*
Trust Co's
130
140
NY Life ATI-
Bid
Bid
Ask
N Y City
,
I
Trust Co's
Bid
Brooklyn
990
1010
Brooklyn Tr.
470
145
88
92
Empire
300
310
Equitable Tr.
450
465
Farm L A Tr 1125
1175
_
850
365
210
220
140
Bankers'
Tr.
460
470
Fulton
270
295
220
B'way Trust-
150
165
Guaranty Tr.
550
560
Fidelity...
165
170
NY Trust...
600
615
Citizens'
....
Lincoln Trust
120
130
Title Gu A Tr
410
415
Franklin
....
Metropolitan
375
400
Transatlan tic
205
220
Hamilton
Union Trust.
360
370
Home
135
150
USMtg ATr
425
435
Kings County
630
United States 1070
1095
Nassau
.....
125
....
285
*90
Mutual Alli¬
ance
Mut'l
(Weat-
t>hixatqr)..„
140
150
...
......
Washington
.
350
365
People's
Westchester
.
145
155
Queens Go
270
sso|'
110
120
'
■■A
90
_
280-3
'f
29541
mi
1
• Bid and asked
prices; no sales on this day.
I Less than 100 shares,
I Ex-rights,
a Ex-dlv.
A rights,
b New stock,
d Quoted dollacs per share.
Ctoek JUqhanaa. eg alaugtlon. tola, woek^,, s Sxrfltock, dividend.- V Banks mackad with a paragraph m are State banks.,, ! Esrdividead.-^
«
103% Oct
Jan
53
4
•
93% Oct
101
39% Jan
13% Jan
28
31
4
Jan 21
Jan
40%
105
Jan
140
2
7% Jan
3
41% Jan
3
16% Jap 30
56% Jan 31
69*2 Apr
175
2712 Feb
08% Dec
15% Feb
64*2 Feb
89% Dec
09% Dec
13
7
93% Jan 13
39% Jan
4
Aug 29
99% Jan
3
77
Feb
$16
126
113
28% Feb
106% Feb
.15812 Feb
Jan 13
Jan
Feb
96
7
118
16% Mch
77
Nov
Sep
Apr
Oct
Aug
Aug
Sep
Aug
Aug
Aug
Sep
Aug
Sep
45
9
Oct
NOV
Sep
877g Aug
103
Jan
Aug
69
4
101% Jan
1
J'ne 10
Jan
95
154% J'ne 12
23
J'ly 8
Oct 17
225
1Q2% Dec
156% Jan
105*2 Jan
36% Dec
102% Oct
90
J'ly
129% Sep 23
24% Jan
2
88% J'ne 10
J'ly 11
149
Sep 5
J'ne 10
Oct
Oct
Sep "
Jan
Mch
74*2 Jan
28% Deo
8
9
J'ne 10
J'ne 11
J'ly
89*2
105%
55%
10334
107% Jan
124% Jan
8
19% Jan 30
92% Jan 30
56% Jan
2
108
Oct
6
6
J'ne
Jan
95
20% J'ne 10
6
105
97% J'ne 10
55
J'ly 18
J'ne
J'ne
Oct
Oct
29
J'ne
9
103
Sep
4
91
116
Dec
71
49% Feb
195
104
107
4
7
Jan
100
Jan
Law T I A Tr
NY City
Astor
140
(F W)
preferred
NY City
Knlckerboc
Commercial
Trust Co's
1st preferred
Do
Columbia-
People's
100
400
Do
5,350 Woolworth
NY City
155
(Green point..
Nassau
150
-
Dec
'
;■
COMPANIES—BANKERS' QUOTATIONS.
Sid
Brooklyn
— mm*
„
pttornestead 't
Montauk
Banks
preferred
Dec
22*4 J'ne 13
4*8 J'ne 11
Oct 16
2d preferred.
Feb
60% Dec
110% Sep 17
114% Sep 19
4% Jan
Mayi2
278 J'ne 10
12% J'ne 4
6% Oct
9
21
preferred
2,250 Western Union Teleg
5.800 Wastiug-ouse El & Mfg.
117
89*8
89%
♦111*2 113*2
95% J'ne 10
111
104
300 U S Realty & Improv't—
5,600 United States Rubber...
750
Do
1st preferred
Do
116
78
Do preferred.
Union Bag & Paper
Jan
7'*% May
105
Sep
Aug
111% Sep 15
Mayi2
74
Do preferred
95 U S Cast Iron Pipe& Fdy
400
_
J'ne 10
89
Typewriter
"54%
66
20% Jan
96
*26% J'ne 10
361,100 United States Steel..
Do preferred
1047g 105
2,950
61
61%
20,950 dUtah Copper
Par $10
Vircink-Clarnlinft flhem
♦27
900 Virginia-Carolina Chem.
28*2
53%
65
'~
117
ei»4
♦110
56%
58*4
14*8 J'ly 12
11% Feb
37% Jan
$47
7
111
52% May 1
20
Oct 17
255
Do
"66%
59*2
68
1
!■
"64% "65%
50*s
28*2
♦9484
65%
60*8
95*4
1,000
63% Jan
31% Apr 26
Studebaker Corp (The)..
Do preferred
150
10 385 ^Tennessee Oop
Par $25
1,500 Texas Company (The)._
49
104*2 105*8
.*'■
29
f *66
♦
49
"5358 ~55 ~
553s
(•2834
*46
*56
58
6534
5534
•56*4
58
68
60
6o84
61*4
r59%
60%
105*2 106
♦102% 105% ♦103*2 105%
Ir
...
800
Do
>•
545,
49
♦46
" 56
I 62
Milling
preferred
Underwood
.05% Jan
36
Standard
90
Oct 16
40% J'ly 11
14% J'ly 15
preferred
Do
Oct 16
22% J'ne 11
90*4 J'ne 10
15
J'ne 10
17
J'ne 10
72
J'ne 11
preferred
800 Sloss-Sheffield Steel &
33%
30
8
109
...
Dec
lo5
__
2,700 Sears, Roebuck & Co
64
,♦3112
.
2
May
14% J'ne 11
73
J'ne 11
18* • J'ne 10
Railway Steel Spring
Do
Jan
40
Aug 18
81% Sep 30
68
Jan
2
Mayis
104
....
30
187
25
18
Pressed Steel Car
Do
preferred.
Do
2
60
7,300 (/Ray Cons CopperPar$10
3,235 Republic Iron & Steel...
Do
preferred
2,430
300 Rumely Co (M)
50
170*2 173
176% 176%
100
Jan
13
Pub Serv Corp of N J
900
44
23
96
*91
Dec
20
Mch 19
66
Telep & Teleg
Pullman Company
Jan
J'ne 10
43% Oct 14
88
'.""978
21% Jan
2
.18
Jan 22
10
75
90"% Dec
13
75
87
157
„
79% Jan 31
100*8 Jan 16
33
100
6,567 People'sGL&O (Chic).
1,900 Pittsburgh Coal..
Do
preferred
2,550
94
97
preferred
Lead-.j,
Do
preferred
(/Nevada Cons Cop Par $5
3,400 New
York Air Brake
"""750 North American Co (new)
400 Pacific Mail..
*107*2 117
142% Jan
17*8 Jan 31
65
700 National
200 Pacific
23's Feb
135% Dec
103
May Department Stores.
Do
Feb
Jan
41% Feb
84
preferred.
Mexican Petroleum
3,000
dMiami
Cojpper
Par $5
2,250
National Biscms
1,500
Do
preferred.
""460 Nat Enamel'g & Stamp'g
100
16% Feb
80
$25,
Oct j
40*8 Apr
72% Oct
95% Oct
101% Deo
33% Sep
1001? Oet
$50% Nov
43% Sep
14912 Aug
22% Oct
89*2 Oct
100*4 Dec
36% Aug
21% Sep
5234 Sep
188*2 J'ly
4278 Sep
8234 Sep
99% Dec
rl50
1st
80
149
Dec
47% Jan
May
127% Oct !
6034 Aug
108% J'ne
51% Oct
49% Dec
84
3
89
co ctfs
$48
Nov
30% J'ne 10
106% J'ly 22
Dp
300
28
_
2978 J'ne
....
20*2
24
23
400
97*4 Mch
97
20
12412 124*2
15134 161%
23%
23%
176
:
10*2
151*4 151*4
♦23*2 25
•40
.
♦75
♦70
125u
86*8
•2412
22%
119
*57
123
150*4 151
24 *2
24%
64%
J20-
10%
71*8
20
♦25
♦24
22
119
♦118
15%
•20
28688
102
63%
67
71
•18
89*4
24*8
*97
71
4334
44
•4312 45
104*8 104*8 ♦101*4 106
21
203s
'
103% Feb
30*8 Feb
106% Oct 10
58
J'ne 9
...
Feb
Dec
i0234 Feb
27% Feb
56% Feb
137*2 Mch
_
J'ne 10
9412 Mch
41% May
49
66% Feb
Jan 30
J'ne 10
31
$34
86
17
6
preferred
Do
2d preferred
Lorillard Co (P)
Do
preferred
♦85
*108*2 HI
Loose-Wiles Bis tr
Aug 7
J'ly 23
95% Oct 14
83
preferred
Do
165"
•44
43*2
44
45l2
•102*2 107*4 *103*2 106
15
15*8
16*4
15l2
♦57*2
67
•57*2
65
71
-71
•71*8
75
15^4
*57
643s
120
118
108
15l2
65
22*8
100
100
*156
1~65 "
♦1177s 120 ' *118*2 120
♦116*2 120
12
1033
10s8
105B 105s ♦11
79
79
♦79
82
78
79
82
♦44*2
•105
,
♦
♦85
30%
Mch27
Nov
Dec
105% Feb
.
32% Oct 15
Laclede Gas (St L) com..
Liggett & Myers Tobacco
Do
115*2
Jan
87
....
Lackawanna Steel
220
53*2 Jan
105% J'ne
41*2 Jan
74
Aug 12
137% Jan 27
.31
Feb
20
Do
preferred..
KayserA Co (Julius)..
Do
1st preferred
Kresge Co (S S)
preferred
120
70
pref stk tr ctfs
Do
*98
33
•
-
*208
♦30
♦85
'""120
18
79
25% Jan
129% J'ne 10
I
j->o
International Paper.
Do
preferred
300
Internat Steam Pump.
85
Oct 16
J'no 10
Oct 17
105
Aug
44% Oct
133*2 May
124
Sep
149*8 Mch
324% J'ly ;
10,6% J an i
Jan
Jan
Feb
Jan
24% J'ne 10
125% J'ne 10
7% J'ne 10
61% J'ne 10
94% J'ly 8
9% J'ne 10
Par $5
"""loo
*106
33
Copper
.
Do
74
*88
Leather........
preferred..
Smelt'g
preferred.....
Do
23% Sep,27
Sep 19
32% Jan
41% Jan
J'ne 10
J.vn
115%
137%
241%
101%
82
45
cfs
Jan
106*8 Jan 27
16
ctfs.
1,250 dGuggenh Explor Par $25
a Insp'n Con
Cop ParV20
2,400
900 Internat Harvester of N J
Do
preferred
""466 Internat Harvester Corp
Do
preferred
'""266 Int Mer Manne stk tr cts
116l2
♦30
v t
Case(JI)ThreshMpftr
Do
140
Feb
26
Highest
ll«>% Dec
294% Jan
3078 J'ne 10
25
preferred
99
Jan
Jan
40
120
pre! v t ct:'s___
4,020 Goodrich Co (B F)
Do
preferred
;
600
102
33
Previous
Lowest
116% Jan
6
62% J'ne 10
2,900 Distillers* SecuritieVCorp
Federal Mining &
220
♦30
Du
J'ne
J'ly 11
16*8 J'ne 10
May 7
15% Oct 14
25
2,800 Consolidated Gas (N Y)I
3,800 Corn Products Refining
Do
200
preferred..
!l
100 Deere & Co pref.
♦98
115*2 *106"
for
Year 1912
40% Feb
100*4 J'ne 25
2,540 Colorado Fuel & Iron
99%
38*2
38
California Petrol
19,300 dChmo
♦208
983s
208
208
♦100
31
•95
*30
*30
>209 209
*106% 115%
108l2
■<
Cop Par $25
preferred
8.350 Central
801
*4212
200
pref
General Electric
1,330
Gen Motors vot tr ctfs
1,700
139*2 140
3778
38
43*2
♦4212
100
.
"""166
102
4312
15*2
102*8 104
15
T.866
105
113
96
Assets Realization
Locomotive....
Do
380
39*4
J'ne
74
2,600 Bethlehem Steel......
Do
preferred
1,000
720 Brooklyn Union Gas
Butterick Co
360
15
42^
15*4
10434
104*4
•11338
1043a
♦113*2
3*8
£.•113% 115
10434 10434
•113% 114
v
38%
J'no
25
new
300 Baldwin
51
95*2
15
*38*2 40
38*2
38*2
139*2 140i2 *139*2 140l2
37*2
37i2
37*2
37*2
*78*8
78*8
78*4
78*4
20
23
23*2
24
13978 140*2
6,500 aAnaconda
2,500
01
39
27
2778
128*2 129
878
9
9:
0o*2
97*4
1334
65
'-
♦49*2
38*4
130
87S
*64*4
•96314
1312
65
14%
1912
§91
-
17
53
95l2
1934
91
Range
Highest
100
.
120
27%
17%
Preferred,
»
Amer"can
Woolen
-Do
preferred
100 Amer Writing Paper
70
120
18*4
317
105i2
29*4
1
100-share lots
oj
104% J'ne 12
110% J'ne 12
119% Oct 14
200
77
basis
Lowest
Do
preferred
13,350 Amer Telephone & Teleg
2,600 American Tobacco......
40%
♦26
2984
17*2
3934
28*4
277a
129
121
121
2734
18*2
♦50
51
97
128
♦26
19
129
♦96%
*123
2734
19
*
105
27
116
♦26
19%
5178
0O78
1978
•11
♦26
107*8 ♦108
230
123
•26
♦13
26
26
107
♦40
44
♦40
44
40
42*8
♦100*2 105*2 ♦103
105*2 ♦103
10512 ♦103
2 834
29
28*2 29%
28s4
*2884 295s
♦69
70
♦69
697s
6978
♦685g
71
122
9%
28
108
75
105l2
30*2 30*2
♦69*2
70*2
5178
♦26
108
On
Industrial & Misc (Con)
Amer Snuff pref (new)
100 Amer Steel Found (new).
600 American Sugar Ref ning
105
42*8
•103
*
28
*99
♦113
116
♦113*2 116
♦113*2 115
120
1205s 1223s
121U 122l2
121%
225
225
225
225
225
228*2
101
♦100
101
100*8 100*8
102
*100*2 102
•20
♦20
♦20
21
20
25
20
23*2
•79
82
•78
81
♦78
80*2
♦77*4 80*4
♦15
♦15
16
17
•12
157s
1578
15
34
34*4
34*4
34*8
34*2
35*4
33% 34%
22%
122
105
*99
105
Since Jan.
EXCHANGE
Shares
11958 121
80%
♦42*8
•99
Oct. 17
NEW YORK STOCK
Week
Friday
Oct. 16
15
108
225
♦79
♦75
105
•113
100
*15*2
34%
Oct.
•26
230
100
14
108
•108% 109
•113% 115*2
12084 122
'
Thursday
Wednesday
[Vol. xctii.
second page preceding
see
,
t&Sit.A
1097
Exchange—Bond Record, Friday, Weekly and Yearly
New York Stock
Jan. 1 1909 the Exchange
method 01 quoting bonds was changed, and vrices are now
*2
17.
Week Ending Oct.
registered
3s
fc
8 48
registered
;
8 4s coupon
97
95i2 J'ly '13
99
f-A 1
J-j 1
J-J
I960
1963
\4% Corporate stock
1959
\4% Corporate stock
1958
% Corporate stock
..1957
lew
4^8—
1957
lew 4M»
1917
,% Corporate stock
1957
% assessment bonds--1917
% Corporate stock
1954
91 Y City—4ha
4^
i
a
temp rects (w 1)
-
n
88
86%
Aug 13
IOO84
10034
9434 J'ly 13
96% J'ly 13
84
84l2
93
90
85
—
835$ 903$
821$ 89i4
7512 83
99l2 102i2
15
94%
the b asis
95
M-N
95
bale
M-n
M-n
100%
M-N
103
M-N
-
1
15
95
3
1033$
101
Sep '13
10314 103
103%
....
10034 Sale 10031*
M-N
M-N
State—4s
1961 M-S
«
Canal Improvement 4s—1961 j-J
\ Canal Improvement 4s
1962 j-J
10
94«4
*12
100
105i2
100
101*4
6
8034
Oct '13
100
102
100
9
1011$
8334
8334
8334 Sale
99
100
Oct *13
101l2
977$ 101*4
973$ 1011$
Canal Improvement 4s
~97% IIII
99
8212
451$
Virginia funded debt 2-3s..l991 J-j
}' ts deferred Brown Bros ctfs
99
99
J'ly *13
103% J'ly 10
99
Apr '13
81% Sep '13
99
48% Oct *13
J-j
1960
South Carolina 4 Hs 20-40—1933 j-J
Venn new settlement 3s
1913 J-j
48i2
10134
Ann Arbor 1stFe gen
g 4s
tch Top & 8
g
M995
4s. 1995
t Registered
Conv 4s Issue of 1909—.1955
'
Debentures 4s Series K
i-1955
1960
1917
1913
East Okla Div 1st g 4s
1928
Bhort Line 1st 4s gold-.
1958
10-year conv
,
$
gold 5s
.Cal-Arlz lst& ref 4^s
1962
8 Fe Pres & Ph 1st g 6s—1942
,
Chic & 8t Louis 1st 6s
/
A.U Coast L 1st gold 4s
\ Att Mid 1st
gu
1915
hi952
hl952
Registered
gold 5s—1928
•
99
81%
8H2
42
♦
'
»,•>
gold 6s?—1934
gold 5s
-.1934 A-O
Sil.Sp Oca & G gu g 4s—1918 J-J
BaitRegistered
A Ohio prior 3 ^s—1925
hl925
J-J
Q-J
—hl948 A-O
Registered..——hl948 Q-J
20-yr conv 4 ms -—.....-1933
! Bitts June 1st gold 6s.
1922 }"-~j"
Gold 4s
>■
,
P Junc& M Div 1st g 3^81925 M-N
P L E & W Va Sysref 4s
1941 M-N
•
;
«
69
«
86
8512
-
98
m m
cons gu
85%
121%
01
1231$ J'ne
....
90*4 Sale
100
•95
103
105
105
101%
....
9134
88
"46
90l2
891$
977$
9H2
88%
97
189
A-O
F-A
106
Sale
9014
9014
100
101
105
1061$
1031$ 1031$
961$
103"
103
no%
10434
9584
10714 110%
IO8I4 1117$
110
Registered
mm
mmmm
no"
1917
1956
1956
Chic L S & East 1st 4 Ks_—1969
Chic Alii & St Ptermlg 53—1914
Gen'l gold 4s Series A
el989
Registered
el989
Gen'l gold 3Ms Ser B__.el989
Registered
el989
25-year deben 4s
1934
Convertible 4 ms
1932
Convertible 4 ms (wh issued) - Gen 4mb Ser C
e 1989
Chic & L Sup Div g 58—.1921
Chic & Mo Riv Div 5s_—1926
....
...
-
Dec
Mil & No cons
....
•>...
"85 "IIII
99%
=100
1987 J-J
112
103
100
861$ Oct '11
90
Feb '13
90
i._.
12
102i2 Sep '13
iuy%May 11
"5§"
102%
"9934101%
1135$
1135$
115% II314 Oct *13
104
104
Sep '13
100
J'ne'13
1121$ 119*8
1121$ 1181$
100i2 Jan '13
84
Oct '13
100% 100%
101
114
.1921
1933
1933
Frem Elk & Mo V 1st 6s_.1933
ManG B & N W 1st 3Hs 1041
Sinking fund deb 5s
Registered
84%
90
,
5s_1945 A-O
2002 J-J
WBk City 1st con 5s__1916-1941 J-J
£ Bk Q Co & S con gu g 5s._1941 M-N
k
Bklyn Q Co & S 1st 5s
1941 J-J
Bklyn Un El 1st g 4-5s
1950
Stamped guar 4-5s
1950
Kings County El 1st g 43.1949
f
Stamped guar 4s
1949
/ Nassau Elec guar g ild 4s_1951
Chicago Rwys 1st 5s
1927
Conn Ry & L lst&ref 5g4%s '51
Stamped guar 4 M*
.1951
.
Det United 1st
cons g
4^8.1932
F-A
99% Sale
85% Sale
100% 102
98
F-A
F-A
80
F-A
J-J
74
J-J
Interboro-Metrop coll 4 Hs_1956 A-O
84
77
98
F-A
J-J
J•J
99%
85%
101
98
101
99% Sale
99% 100
81%
Ft Smith Lt & Tr 1st g 5s..l936 M-B
Grand Ramds Ry lstg 5S..1916 J-D
Havana Elec consol g 5s
1952 F-A
Kf No
99%
100
863
101
99%
99%
99%
81% Sep '13
82
82
75% Aug'13
Oct '13
98
....
1017$ J'ne'12
....
....
96
99% 103%
80
92%
99% 102%
1
70%
....
03
—.
98
93%
74% Sale
70%
Apr '12
J'ne'13
93% Aug'13
74%
75%
84%
98
101
98
101
3
....
j-j
a-o
1932 j-j
..1914 M-N
Chic R 1 & Pac RR 4s
....
128
101%
102% Sep *13
"61
....
2002 M-n
2002
4^s_1934
Bur O R & N—1st g 5s_ —1934
URIF&NW 1st gu5s. 1921
M & St L 1st gu g 7s_.
1927
Choc Okla & G gen g 5s
ol919
Consol gold 5s
.1952
Registered
110
1025$ 105%
95% 98
91% 96
84
95%
92%
78%
96%
100
Sep '13
105% Aug'13
104
May'13
106
104
103
997$ 103
12
io5%
107%
1007$ 1007$
121%
117
J'ue'13
111% 108%
Aug" "13
107% 112%
107% 104
Sep '13
110%.... 114% jp CD '13
110
113% Mch'13
104
104
107%
114% 114%
113% 113%
881$ 94
Oct '13
91% 92% 92
115
10634
J'ly '11
108% Mch'13
105%
104% 105% 104% Sep *13
108% 108%
....
106
103
104
Sale
84
88
84
"75" "©Sale
"
"
"
•
75
104
S
104%
84
94%
74
89
72
85%
90
Dec '12
76
76% Oct '13
74%
....
103% 106%
Oct '13
91
97
"'
"49"%
Sale
IIII "85"
110
a-o
106
a-o
Sep '11
94% j'ue'11
49%
51%
"95 "
436
49%
557$
66%
85
55% Sep '13
85
J'ly '13
103% Sep *13
105% Sep 11
87%
64%
103% 108%
j-D
j-j
"95 r loo"
M-N
♦97
997$ May'13
106
f-a
Chic St P M & O con 6s—1930
Cons 6s reduced to 33^s__1930
Debenture 5s..w
.1930
Ch St P & Minn 1st g 6s
1918
j-D
j-D
M-S
M-N
Jan '13
94
Oct '13
1930 j-j
St P & S City 1st g 6s
1919 a-o
Superior Short L 1st 5sgffl93G M-S
797$ AUV'13
115%
115% 120% 115%
86
89% Dec '12
101%
100% 101% 101%
115% .... 119% Feb 13
129% May 09
115%
106
AUg *13
105% 108
08
707$ 89 t
114% 1207$
~98~ 102%
119
120%
106"
109%
106"
107%
....
•90
....
-M
?:-j
907$ 100%
108.'
106
@4
"~.t 79
1952
106
102
102%
Dec
98%
106
105% 105%
Oct '13
101
85%
84%
90% Sep '09
108"%
List4>$s'41
q 1932
110
101% 102%
104%
1073$ 109%
99% 997$
101
82%
82%
84% Jan '13
97
Chic & West Ind gen g 6s
Consol 50-year 4s
04
85
95% May'13
91% Oct '13
117
Keok & Des Moines 1st 5s.1923 a-o
North Wisconsin 1st 6s
106%
1041$
99% 103
100% 101
106,
110%
J'ne'13
J'ne 13
100% Aug M2
102*4 Oct '13
M-n
M-S
100
102% 104%
103
106%
101% 105%
100% Aug'13
102% 1007$ Aug'13
110
917$
100
Oct '13
110
85
"86
102
J'ne'13
103
98%
79
11
.
102
1918 M-N
R 1 Ark & Louis 1st
97
Oct *13
101
j-j
Coll trust Series L 4s
P 4s
IIII *86
107% J'ne"13
84% J'ne '13
84
89%
Page.
2
81%
86
75
78
96
08%
95%
997$
68
75%
Interboro Rap Tr 5s Ser A.1952 M-N
Manhat Ry (NY) cons g 4s. 1990 a-o
Stamped tax-exempt
Metropolitan Street Ry—
....
-T—
~9§"
93%
153
Stamped
Bway & 7th Av 1st
C g
Ss.1943 J-D
I Col & 9th Av 1st gu g 5s
1993 M-S
Lex Av & P F 1st gu g 5S.1993 M-S
Third Av RR cons gu 4s
2000 J-J
'
1047$
897$
90
....
....
71
j Doe
08
98
81%
Cent Tr Co ctfs stamped ....
Third Ave Ry 1st g 5s
1937 J-J
Met W 8 El (Chic) 1st g 48.1938 F-A
Milw Elec Ry & Li cons g 5sl926 F-A
Refunding & exten 4Ks..l931 J-J
Minneap St 1st cons g 5s
1919 J-J
Juno. .2 Due July. .* dmjm.
• Oue.Oot, .w
104%
1047$
Oct '13
J
102% 105
91%
92
93
88% J'ly *13
86%
87%
95
95%
50
64
62%
62%
May'12
62% Jan '13
50% Mch 12
100
Sep *13
100% 101
08% Oct '13
98%
97% May'13
98%
74
J'ly '12
...
...
100
103%
99 /
97% 101 3
98%
74% J'ly '12
Central Trust Co certifs
....
31
1990 a-o
Refunding gold 4s.
2002 a-o
Farmers Loan & Tr ctf
99% 101%
99% 10is4
81% 82
10
95% J'ne *13
70% Sale
...
34
Apr '13
May'13
orloe FrldaK latest this week. -4 Dm AnrU.. • Doe Max.
90
99% 100%
90% 09
Street Railway
Street Railway
g
1st refund conv gold 4s
98 ;
102%
....
MISCELLANEOUS BONDS—Continued on Next
; Brooklyn Rapid Tran
J'ne
102% 102%
102
a-o
j-j
j-j
j-j
18
r
82% Oct '13
82% Sale
M-N
Chicago Rock lsl & Pac 6s_1917
R egistered
.1917
General gold 4s
1988
Registered
.....1988
Refunding gold 4s
1934
11
93%
98% Feb 13
...
M-N
Winona & St P 1st ext 7s.l916 j-D
100
83
Dec
93
92%
....
1051$
102%105%
101%
101% Sale 101%
102
102% 102%
102%
107
107% Sep '13
99% Oct '13
99%
103%
102%
1929 f-a
1925 M-S
1924 j-j
Mil Spar&N W lstgu4s_1947 M-S
Northw Union 1st 7s g
1917 M-S
165"
997$ Oct '13
106
107
108
106% 106%
97% 98
102% 102% 102% Oct '13
91%
92
91% o&je
100% ...i 100% J'ne'13
"95% "967$
119
97
102%
86
99%
102% 103
80
107
11
12
90% Aug 12
101%
102%
a-o
687$
'13
'13
*13
'13
'13
J'ly
8334
....
97%
71
77%
116% 125
104
106
07
99% 100%
903$ 90%
13
74
83
80%
91
....
93
95% Apr
91%
j-j
j-j
A-O
93
117
102%
102%
a-o
98%
93
J'ly"
737$ ;
117
101
Ext & Imp. s f gold 5s
Ashland Div 1st g 6s
Mich Div 1st gold 6s.
101»4 105%
100
Sale
106
*
85%
*933$
9334
105%
737$ bale
101" Sale
Milw & S L 1st gu 3^s
1941 j-j
Mil L S & West 1st g 6s„1921 M-S
20-year debenture 5s
933$
69% Sep
J'ly
100
100% Sep
99% 106% Jan
96
97% Feb
1111102"
a-o
63%
100
82%
Apr 13
10034 Sale 100%
1921 a-o
Debenture 5s
98
13
107
a-o
68""
50
13
J'ne
j-d
1987 M-n
—
53
72
92
88
63%
.
j-j
v
84*4
93%
"97%
*89" " *963$
1934 j-D
f
1915
a
1886-1926
7s
84%
9634 J'ue 13
93
110
86
95%
95%
j2
96% Sep
9734 May* 13
96%
....
100%101%
101% 103%
96% 99%
—
117
99%
92%
85%
79
85%
10
Oct
100
92%
68%
99%
88
101% Sep * 13
*98* I I
108
"911$ 101"
63%
93
...
J-j
....
85
9334
"81%
Sinking fund 6s
1879-1929
Registered
1879-1929
Sinking fund 5s..—1879-1929
Registered
,..1879-1929
90
Sep *13
....
*94% "96"
High
»
I
84%
86% Aug 12
g
94%
S
947$^
J-J
...1886-1926 F-a
General gold 3Ms
1987 M-n
Registered
pl987 y-F
StPaulfc KCSh
107% Jan
99%
99%
cons
#
84
-J
Registered
Dec '11
"84%
83
93% Sale
1934 j-D
4Ms
s
Chic & Nor West
Extension 4s_.
Nov'll
..
ex
1st extended 4
Oct
99
J-J
1920 j-j
Wis Vail Div 1st 6s
109
61% Sale
...:
1916 j-j
1920 j-j
1924 j-j
•
Mchi*13
63%
61%
63%
"997$ "HI
assum g 6s
La Crosse & D 1st 5s.—.1919 j-j
Wis & Minn Div g 5s
1921 j-j
11
96
107
f 6s
Far & Sou
10014 10014
IO6I4 Mch '13
Dec,'11
103
105
s
102
110
1
95
...
j-D
J-j
Chic & P W 1st g 5s
1921 j-j
C M & PugetSd lstgu4s_1949 j-j
-
104i2
82%
--J-
J-j
j-J
J-j
Ind & Louisv 1st gu 4s
Chic Ind& Sou 50-year 4s_.
110%
102
1105$ Mch 13
10334
j-7
Chic& Ind C Ry 1st 5s
1936
Chic Great West 1st 4s
1959 M-S
Chic Ind& Louisv—Ref 6s. 1947 J-j
Refunding gold 5s
1947 J-j
95
103
t
93
87
89
....
f-A
.1942
,5s
Low
"l7
'
99% Mchri3
""40
80
79%
f
79% Sale
86% Feb 13
81% 85
88% Oct )2i
"98t$I::i 101% Mch ■13]
8434 Jan *13
*86% "90% 86 J'ly 13
1937 M-n
Registered
100% Jan 'D
mmmm
103%106
1958 M-S
General 4s
Pur money 1st coal
93
Sale
North
1913 M-N
See Great
Debenture 5s._
1041$ 106u
"93'
Sine*
Jan. i
No.
High
....
95%
Chic & E ill ref & imp 4s g_1955 J-j
1st consol gold 6s
..1934 A-O
General consol 1st 5s
.1937 M-n
48
38
45i2 Apr *13
mrnmm''mm
97
9534
105i2 Oct '13
—
113
Q-F
89%
821$
861$
Oct *13
.'60
105%106
Southwestern Div 4s
Joint bonds.
Ask Low
Range
li
p
987$ 100% Sep '13
104%
It
104*4 Sale 104%
10U%Nov 12
A-O
1927 M-N
..1921 M-S
Registered
95»4
M-N
Imp gu 5s
1921 J-J
Leh & Hud R gen gu g 5s-1920 J-J
N Y & Long Br gen g 4s__1941 M-S
971$
8G~
1031* Apr '13
102
hi 987 Q-J
Am Dock &
88
Last Sale
1927 M-N
1919
Sinking fund 4s
Nebraska Extension 4s
—
15
Range or
101%
♦97*4
1919 A-O
General 4s
Apr 13
Sep '13
110
M-N
9212
102U J'ne 12
99%
110
J-J
95
86%
877$
8714
108
/ Mid Ga & Atl Div 5s
1947 J-J
/ Mobile Div 1st g 5s
...1946 J-J
icen RR & B of Ga col g 5s_1937 M-N
R egistered
95
1021$ IO6J4
...
A-O
A-O
107
1031$ 1031$
87
9514
14
mrnAm'mmmrn.
87% Sale
3:3
1949
Registered
Iowa Div sink fund 5s
92
85l2
Mch *13
103
j'ly '08
10734 Oct '13
Ohatt Div pur mon g 4s__1951 j"-D
Mac & Nor Div 1st g 5s
1946 J-J
\
1949
Illinois Div 4s
Dubuque Div 1st
96U 10012
103U Apr '13
stamped..
'Cent of N J gen'l gold 5s
Registered
1950 J-j
4s_1922 f-A
1949 J-j
.1949 J-j
Dak & Grt Sou gold 5s.„
12
86
Oct
'
Railway 1st lien 3Ks
93%
1105$ May 11
97
Oct 12
100
99%
dl951
A 58.1962
1055$
107
06
9034
91
8914 J'ly '13
925$
91% 92% 9IS4
♦
91% 92l2 Oct *13
91%
921$
91% Sale
112
Jan 12
♦105
86
May'13
84%
8534
8534
85% 87
J-J
1035$
91"
_88%
88%
103%
A, 1st pref income g 5s—pl945
?2d pref income g 5s
pl945 Oct
2d pref income g 5s stamped
.< Sd
pref Income g 5s
pl945 Oct
g 5s
98
...
89
88%
114
Oct
106
^
Registered
1962
'Centralof Ga 1st gold 5s
pl945
V Consol gold 5s
—1945
A
Registered
—.—1945
j Sd pref income
92
5
10334 Sep '13
95
Aug'12
102%
F-A
1922 J-D
88
132
13
91
91
mm
Feb
M-S
M-N
,
86
99l2 100
92*4 10584
...
Oct '13
031$ Feb *13
91%
....
907$
-
107
....
101%
-
99
99
....
•
86
83
'16
88I4
mm
.
Consol 1st g 6s
Buff& Susq lstregg4s
863$
98
83
98% 104% 10o% Apr '12
1131* Feb '12
A-O •105
97
May'13
95
J-J
91
J'ne 12
91
J-D
•
f^anada Sou
....
99i2 May'13
797S
981$
921j
92%
86%
Mch'13
«*.»«»
103
F-A
J-D
A-O
*
Sep '13
86
mm,
Bouthw Div 1st gold 3 H»s_1925 J-J
Cent Ohio R 1st c g 4 Hs—1030 M-S
A-O
CI Lor & W con 1st
5s—1933
Monon River lstgu g 5s__1919
Ohio River RR 1st g 5s__. 1936
General gold 5s
1937
Pitts Clev & Tol 1st g 6s—1922
V Pitts & West 1st g 4s
1917
Stat lsl Ry 1st gu g 4 Hs--1943
Buffalo R k P geh g 5s
1937
Consol 4 Hs
-.1957
All & West 1st g 4s gu
1998
CI k Mah 1st gu g 5s—
1943
Roch k Pitts 1st gold 6s
1921
95
*>+ w-
-m
-
70
106
92
93
9234
9234
92 "
94i2
92% Sale
10034
100%.... 100
mm' mm
09% J'ly 'H
91
93% 91
Sep '13
89% 88% Aug'13
g
.
94
86%
85% Sale
J-D
J-D
J-D
J-D
F-A
M-S
J-J
M-S
M-S
M-S
M-S
M-S
M-N
J-J
1st
\
93
2
7034
93%
85
Bruns & W 1st gu gold 4s_1938
Charles & Sav 1st gold 7s_1936 J-J
& N coll gold 4s_.._
ol952 M-N
A-O
8av F & W 1st
:
703*
Sale
93
A-O
A-O
72%
70
Q-J
1995
\ Adjustment gold 4s—k—A1995 NoY
Nov
Registered
—M995
M-N
Stamped
;
/»1995
Conv gold 48
jConv 4s (lssueof 1910)
,
Refunding 4s Series C
99
t
Railroad.
j-D
J-j
Ry 1st
Chic B & Q Denver Div
Illinois Div 3M&
86
97
-
j-D
M-n
gu g 4s_1940
Chic & Alton RR ref g 3s
1949 A-O
85
953$ 10034
995$ 1027$
9034 975$
90l2 9734
9134 9734
997$ 105l2
49
95
9434
9434 Sale
9434 951$ 95
103
1031$ 1033$
M-n
45
983$
10278
■
f-A
1946 J-j
Registered
98
98% Sale
10234 Sale 10212
M-S
-
t
951$
of $5 to £
M-S
M-S
1989 j-J
—1989 j-J
2d consol gold 4s
89l2
8312
Oct *13
on
9712
84
90
M-N
—
R & A Div 1st con g 4s...
9714
961$
20
Oct '13
84
are p rices
17
j-J
M-N
...
92
80
95
J
_
991$
85
7
863$
855$
841*
t These
951$
4
Friday
Bid
1929
1939
—1939
1992
—1992
.1930
1944
Coal River Ky 1st gu 4s_il945
Craig Valley 1st g 5s
1940
1031$
Week's
Oct. 17
17.
Chesapeake & Ohio—
Gen funding & impt 5s
1st consol gold 5s...
Registered
General gold 4 ms
Registered.
Convertible 4Ms
Big Sandy 1st 4s
Greenbrier
j-J J
M-S
99
2
9734
90
8934
80
M-S 110034
F-A 1 941$
State and City Securities.
9734
863$ Sale
855$ Sale
78
10
99
<
High
Price
BONDS
STOCK
EXCHANGE
Potts Creek Br 1st 4s
Foreign Government.
M-S t 96i2 9754
Argentine—Internal 5s of 1909.
Sale
j-D t 90
Chi nese (Hukuang) Ry 5s £
Imperial Japanese Government
} Sterling loan 4Hs
1925
2d Series 4Hs
1925
Sterling loan 4s
1931
Republic of Cuba 5s exten debtExternal loan 4^s
-1949
Ban Paulo (Brazil) trust 58.1919
Tokyo City loau of 1912 5s—
B 8 of Mexico s f g 5s of—1899
\ Gold 4s of 1904
—1954
Oct '13
109
Low
Y.
Week Ending Oct.
«94i£l0D8
«95% 101%
10134 103i2
101»4 10334
109i2114i$
109
114l2
9512 IOOI4
1025$ Sep '13
102% Oct *13
109i2 Oct '13
100
99
No.
*13
oep
...
95
1193G
g—1961
High
98
N.
Jan. 1
«94%Oct '13
96
102% 103
IO2I4 103
109% 110%
109% 110%
8 Pan Canal 10-30-yr 2s
S Panama Canal 3s
Ask Low
95
.11918 Q11918 Q
1925
1925
.
8 3s coupon
Since
95
Q
dl930 0
8 2b consol coupon
Range
Last Sale
Bid
U. S. Government.
registered
dl930
8 2b consol
Week's
Range or
Oct. 17
EXCHANGE
STOCK
Y.
Price
Friday
BONDS
m.
bonds.
all—"and interest"—szcevt for income ana defaulted
74
104
....
102
105% 105
84
102% 101
91%
Nov
91
102
12
102% 107%
105
93% J'ly
06
J'ne'13
Apr
13
Nov" 12
.1
135% 101*,
91
91
1
ft
New York Bond
.
IN.
Y.
BONDS
STOCK
EXCHANGE
Week Ending Get. 17.
l
Price
Week's
Friday
Range or
Oct. 17
Last Sale
Bid
1937 J-J
(Cln H & D 2d gold 4
\
1st & refunding 4s
1959 J-J
■V
1st guaranteed 4s
1959 J-J
Cin D & 1 1st gu g 5s
1941 M-N
„G Find & Ft W lstgu 4s «:_1923 M-K
Cin 1 & W 1st gu g 4s
1953 J-J
Day & Mick 1st
cons
4 J^s_1931
93
*
Div
Cin W & M
1991
....
877S
8012
...
84
8312
8684 Feb *13
103" Dec"12
87l2
Mch'13
90
90
89U
89M
83l2
91
89i4 Feb *13
Peo & East 1st
.Income 4s
con
4s
;
*82
....
"82*i; "84"'
1940 A-O
32
1990 Apr
III I ~0l"
M-N
90
Oct '13
IO5I4
" "GO*
102
103
IOOI4 10H2
' Mch"'i3
120"
1935
Ft W & Den C 1st g 6s
1921
; Conn & Pas Rivs 1st g 4s__1943
lOuba RR 1st 50-yr 5s g ..1952
iT\el Lack & Western—
A/el Morris 8c Essex Ist7s.l914
;
lstconso. guar 7s
.
Registered
....
27
"
,
8278 Oct "'13
35
J'ly'13
26
Sep '13
79
89
35
4934
36l4
J'ly'13
25
26l2
9U2
89
9184
106i2
9478
9412
108
26
J-D
100
J-J
"84" '88*"
1st lien equip g 4J^s
1st & ref 4s
Alb & Sus
3 J^s
1917 M-S
1916 J-D
1922 J-J
1946 A-O
1921 M-N
82i2 Sale
"9O84 "925g
721a
1st ext g 4s
2d ext gold 5s
3d ext gold 4^s
> 4 th ext gold 5s
f "
5th ext gold 4s
\ N Y L E 8c W 1st g fd 7s
■■■■• Erie
1st con g 4s prior
Registered
.
*
1st consol gen lien g 4s
Registered
IIII "79"
*
107l2
l"l"6^
9584
"98"
97
85
'
99
73
67
73
69
8414
Dec '12
61i2 Apr '11
78
78
85i4
78'
81
l06i2Mch'08
"98" nil
9914
J-J
M-N
103
1920 MrS
Ill
1947
1923
1920
1928
1920
1996
Feb'11
1038s Feb '13
....
116
M-N
101" mi
1919 M-S
104
110
111
Sep '13
10112 J'ne'll
M-S
A-O
1011* 10258 101
90
M-S
100
109
84U Sale
J-J
1996 J-J
....
70
1996 J-J
103
100
"
" 103"
100
10318
Jan '12
Aug'13
84i4
Aug'13
100
101
Sep '13
100
109
....
10914 115
Feb '13
103
10014..
J-D
1038a 1035s
Aug '12
8414
84
84
72
72U
109" 169"
82
84
84
6678
7212
76
77
~87h ~88l2
Apr '12
8734 Oct '13
10334 10334
105U 111
>
121
122" "m"
..
'
1935 A-O
; Coal & RR 1st cur gu 6s
Registered
t
h
102
94U
1942 J-D
1926 J-J
1921 J-J
....
9812
Carb & Shaw 1st g 4s
Chic St L & N O
g 5s
Registered.
Memph Div 1st
Registered
1933
92
in: ~7or
94i 2 Sale
....
98
----
J-J
1933 J-J
,
94i4
11884
987* 10H2
Nov'll
Q2
'92 " "9634
Aug 10
72
Mar'13
9412
72" 'ml
171
9484
Sale
9484
9434 Oct *13
98
"SO
97i2
96
....
....
*115
101
Ids ~ ilo"
J'ne'12
92
92
J-J
-J
93" "99""
98
...
119
1171* Aug '13
IOB4
108'4 J'ne '09
06
9684 1005g
96
96
93i2
98i4
124l2
117i2 11914
9934 104l2
118
....
Sale 101
100
96i4
9278
J'ne T3
9312 J'ne'13
119
93
1
,
City Cab
734* Sale
A-O
633* Sale
M-N
97
83I4
101
_1960 J-J
al960 A-O
Tri-City Ry & Lt 1st s f 5S.1923 A-O
Underground of London—
4HS-.
1933 J-J
Income 6s
.1948
853* Feb *13
73«i
747*
631*
64i8
85
4
151
8884
721*
517*
79
001*
951*
101
J&n '13
101
101
95
lfch'13
95
96
98
1942 F-A
cons g 5s_1937 J-J
Third Ave 1st ref 4s
Adi inc 5s
Nov'08
♦941*
851*
...
1031* 1031*
771* 825*
631* 79
95
96
Sep '13
871* Sep '13
84
-
921*
87
trust 5s Pitts issue
1926 M-N
• No prlca Friday; latest bid and asked this week.
71
99i2
96
93i2
Oct '08
J*neT3
Duo Jan.
71
•
A-O
" IIII
i
64
71
123
Aug '12
May'99
70
701*
77
"85U III*
J'ly '13
75t2 Mch'12
Lehigh Vail (Pa) cons g 4sl2003
Leh y TerRy
lstgu g 5s...1941
Registered
1941
Leh Val Coal Co lstgu g 5s 1933
Registered
"1933
1st int reduced to 4s
"1933
Leh & N Y 1st guar g 4s.
1945 M-S
Registered
83
1914 A-O
114
Feb '11
90
....
Oct '09
"IIII ~9212 Au"ff"'i2
~87~ " "9 512 "98" J'ly"'08
92
102" i05 " 1031*
May'13
A.ug'13
Sale
631*
69
90
90
55
55
65
9378
90
907* Sep '13
69
6912
6978
63
"951* Sale"
92
93
102
Oct *00
95lj
95i2
92i2 Oct '13
1027# Oct '13
100
Aug'13
10018 10414 J'ne'12
1003jOct '13
10014 Sep '13
93U Sep '13
111
May'13
llli* Dec *11
-..-104
....
10012
1001*
lOfS IIII
10214
....
84
IIII
10234 Oct '13
105
" IIII
93
J'ne'12
1945 M-S
El C & N 1st pref 6s
Gold guar 5s
Feb '13
10
94i2 J'ly '12
IO214 Aug'13
891*
1045*
A-O
J-J
J-J
J-J
Nov'00
11712 May"
M-N
A-O
94"
95
106
A-O
1914 A-O
4s
1932
J-D
Registered
1949 M-S
N Y B & M B 1st con
g 5sll935 A-O
N Y & R B 1st g 5s
1927 M-S
Nor Sh B 1st con g gu 5s_<?1932
Louisiana & Ark 1st g 5s.
Louisville & Nashville—
General gold 6s
.1927 M-S
iooH IIII ldfi2 Feb"
9934.... 100
107
1001*
881*
....
85
97
96U Nov'12
99U Oct '06
86
85i8 Oct '13
95
98
90
9512
1041* Dec '08
9H2 Sep *13
loo'" IIII
IIOI4 Nov'06
95
Jan *13
104
10018 104
89
92l2 87
Apr *13
Aug'13
....
105i2
J-D
M-N
'11
Jan
103
9884
111U Sale IIII4
—1940 J-J
1940 J-J
M-N
881*
88i2
1937 M-N
Collateral trust gold 5s...1931
E H & Nash lst g 6s
1919
LCin& Lex gold 4 Hs
1931
N O & M l$t gold 6s
1930
N O 8c M 2d gold 6s
1930
10
100
Mch'13
96I4 Mch '12
881* Sale
9334100
1930 J-D
5s
Unified gold 4s
....
937* Sale
111
9314
93
,
.11H4
1
Mch'13
94
103
Sep '13
Aug'13
1063* IO9I4 105
*26
J'ne'13
923*
104
....
105
98
104^4 May'12
J-J
1135, 1173(1 12014 Mch'13
J-J ♦108
1141* Feb *13
Paducah & Mem div 4s
91
J'ne'13
.1946 F-A
Pensacola Div gold 6s..
1920 M-S
1051* IIII 105i2 Mch *13
St Louis Div 1st gold 6s_.1921 M-S
109
107
109
J'ly *13
2d gold 3s
62
1980 M-S
70
695j Sep 12
Atl Knox & Cin Div 4s
88
88
^1955 M-N
871* 88
Atl Knox & Nor 1st g 5s
111
Jan '13
1946 J-D 1031*
Hehder Bdge 1st s f g 6s__1931 M-S
102
106
Apr '11
Kentucky Cent gold 4s
1987 J-J
L& N& M 8c M lstg41945 M-S
L & N-South M joint 4s
1952 J-J
J
Registered
ftl952
...
N Fla & S 1st gu g 5s
N & C Bdge gen gu g
1937
1945
.1921
g 5s—1936
L & Jeff Bdge Co gu g 4s
1945
Pens &
At!
4^s
1st gu g 6s
con gu
Next
on
9 -A
J-J
87
88
99i* Sale
87
991*
Oct '13
103
9914
9934
107
F-A
83
Sep *13
Feb '05
106" 1001* Aug'13
....
104
M-S
83
95
87
F-A
110
87
101i2 Jan '13
1101* Oct '12
1091* J'ly 12
9H4Mcb*12
Page.
Railway
United Rys St L 1st g 4s_..1934
St Louis Transit gu 5s
1924
United RRs San Fr s f 4s
1927
Va Ry 8c Pow 1st A ref 5s
1934
J-J
69
68
69
A-O
A-O
"55"
Sale
55
J-J
90
95
95
69
Sep '13
65
May'13
con g
5s
.1947 J-D
1945 M-N
1001*
105
Sale 105
105
J'ne '13
Buffalo Gas 1st g 5s
..—1947 A-O
Columbus Gas 1st g 5s....1932
"90*
Detroit City Gas g 5s.....1923
Det Gas Co. con 1st g 5s...1918 F-A
Det Edison 1st coll tr 5s
1933 J-J
991*
988*
98»4
956* Sep 08
ior 101*1*
1013* Sep *13
j-i
Eq G L N Y 1st
con g
JDuo Aprfl.
54
983*
5s_._1932 M-S
Gas & Elec Berg Co c g
5s__1949 J-D
Gr Rap G L Go 1st g 5s_.—1915 F-A
Hudson Co Gas 1st g 5s
1949 M-N
Kan City (Mo) Gas 1st g 5s 1922 A-O
83
Due Feb.
*12
9H8
j'ly '13
Sep '13
947g J'ly 12
75I3 Nov 12
81
May'13
83
*99
1959 J-D
North Ohio 1st gu g 5s...1945 A-O
Leh Vail N Y 1st gu
g 4><s_1940 J-J
Registered
1940 J-J
Bklyn U Gas 1st
103ij Feb *13
7914 Sale
783i
7934
72i* Sale
721*
7334
96
96is 96
96ia
09
Gas and Electric Light
;United Rys Inv 1st lien coll
v
.1951 M-S
.
Atlanta G L Co. 1st g 5s
105
iUnlon Elev (Chic) 1st g 53.1945 A-O
1
s
1919 M-N
1938 J-D
ake Erie 8c W 1st g 5s
1937 J-J
2d gold 6s
_.::::ii94i J-J
Street
J-J
J-J
Portland Gen Elec 1st 5s.l935 J-J
St Jos Ry. L, H & P 1st g 5s 1937 M-N
8t Paul
J-D
1951 J-D
1931 M-S
1950 J-J
_.
Jamestown Franklin &
Clearfield 1st 4s__.
8 & N Ala
Street Railway
New Orl Ry& Lt gen 4 ^8-1935
N Y Rys 1st R E & ref 4s 1942
30-year adj inc 5s
al942
Portland Ry lst& ref 5s
1930
Portland Ry Lt & Pow 1st
83U....
75l8
741* 84
67
J-D *100
741*
J-D
J-D
1951
g 4s.
lnt&Great Nor 1st g 6s._
Iowa Central 1st
gold 5s
MISCELLANEOUS BONDS—Continued
& ref conv sf 5s
M-S
.1951 J-D
Registered
10738 108
Aug'13
Sep ,'13
95
J-J
" "87""
May'12
....
108
J-D
.1933 J-J
Reduced to gold 4Hs_1933 J-J
Registered.
1933 J-J
'
"1932
1951
St L Sou 1st gu g 4s_
lnd 111 8c la 1st g 4s
Gold
81
1111* May'12
93
Aug'13
105
....
1928 J-J
96"" Ioi"l2
Aug '13
10788 Feb '13
1007S 100
1930 A-O
1921
1st consol gold 6s
Registered
•
1923 J-D
6s
Q-J
loois 102"
81
106
....
19G1
St Paul M & Man 4s
79i2
-A. 108
1st & refunding 4 josser A 1961
Registered
Dec '12
106
.1942 A-O
1923 A-O
Great Northern— 4s^__1921
C B & Q coll trust
-
78ia
1940 A-O *100
•
J'ne'13
10134 102i2 10112 Sep *13
*99
103ij Aug 12
95
100
96i2
96l2
74
90
100i4 Dec 06
..1937 F-A
1940 F-A
1943 M-N
1Florida U D Co 1st g4Hs._1959
ortSt E Coast 1st 4^8-1941
122
107i2 106
1922 M-N
Dock & Imp 1st ext 5s___1943 J-J
'NY & Green L gu g 5 s
1946 M-N
N Y Sus& W 1st ref 5s._.1937 J-J
Ft W & Rio Gr 1st g 4s
122
8214
7718
65
IIII *80 "J'ly"
95k Sep
1951 F-A
Bellev & Car 1st
Unified gold 4s
....1949 M-S
Debenture gold 5s....;..1934 J-D
Guar ref gold 4s
1949 M-S.
71
1st general gold 5s.__
F-A
66
72
69
Mt Vernon 1st gold 6s
Sull Co Branch 1st g 5s
1951
Gold
7014
66l2
IIII "90 " *9*4" Sep "*13
100
Registered
85~38 "90 "
Sale
....
77i2 Sep "'13
1011* Oct *99
Long Isld 1st cons gold 5s_ftl931
-J
1st consol gold 4s
-J
ft 1931
General gold 4s
-D
.1938
Ferry gold 4^s
1922 M-S
87
92
"74^1111
T
100
10012 Sep
...
J-J
F-A
82
10934 103^ Oct '13
107i2
107i2 Sep '13
101
10912 109
May'12
*
J-J
82
100
....
8312
9434 Jan '11
J-J
J'ne'13
95*4 993a
104U 104U
Oct '13
92
J-D
82
100
86
ldo"" Oct"'13
'08
Apr 13
92i8 Apr '13
98i2 IOOI4 Dec 12
Mar'13
94i8 9414 100
100
Sep '11
887S Feb '13
8334 IIII
88i2 Feb 13
93i2 May'09
7434 IIII
97
*85
M-N
88
100
90
3>4s
g
Kan City Sou 1st gold Ss..l950
Registered
1950
Sep '13
104i4 Mch'13
86I4
100l2 1011
94
84
....
III.
l04"" III" i0"4T2J'n"e"'i3
9714
J'no'13
101
1051s
12
1201S J'ly '13
136i4 May'06
105i2 May'13
79
84
100
119
925* Mch '11
Sep 12
97
114U Sep
90i8
Apr 1950 J-J
Kansas City Term 1st 4s
I960 J-J
100
.
81
Ref & impt 5s
96
.
77
1917 M-N
1995 J-D
1995 J-D
98
.
97
90i8 Sale
Sep '04
82
.
....
J-J
M-N
Jan '08
94
88i2
89
108l2
A-O
Apr '13
84
J'ne'll
"80 " IIII
Refunding gold 4s...
Mch'08|
No.
Oct '13
98
M-N
J-J
1951 J-J
1951 J-J
1951 J-J
1951
9578
A-O
1951 J-J
1951 J-J
3s
e
nH951
~89l2
94
94i2
-.1111111951
Gold 3Hs_
Sale
1
Registered
Gold 3^s
Registered
Spring Div 1st
Registered
;
M-S
1951 F-A
8884
69
Wilk & Ea 1st gu g 5s
Ev & lnd 1st con gu g 6s
Evans & T H 1st cons 6s
Omaha Div 1st g 3s
St Louis Div 8c term
99l8
71
'*
1952
Registered
1st ref 4s
"
1955
Purchased lines 3>isIIIIIl952
LN O& Tex gold 4s
.1953
1953
Registered
Cairo Bridge gold~4sIIIIIl950
Litchfield Div 1st g 3s...1951
Louisv Div& Term g 3 Ks 1953
Registered
1953
Middle Div reg 5s
11021
101l8
90
78
4S...HIII1952
83
801*
9414
92l2
1951 M-S
93lt
100
2d gold 4 Ms.
General gold 5s
Terminal 1st gold 5s
Mid of N J 1st ext 5s
"I"l951
Registered
..1953 A-O
Series B______1953 A-O
V
"1951 J-J
1951 A-O
Hioh
As\ Low
94
1951 A-O
1st gold 3s
sterling..
97
Buff N Y & Erie 1st 7s... 1916 J-D
\ Chic & Erie 1st gold 5s__.1982 M-N
Ciev & Mahon Vat g 5s__1938 J-J
g 6s
J-J
"
97
.
Long Dock consol
"*"""1951
3Ks.."
g
78
\ 50-year conv 4s A
do
J-J
110
A-O
1996 J-J
..1951 F-A
Penn coil tr g 4s
1951
Western lines 1st g 4s
94
83
Jly '13
9OS4 Oct '13
85
J-J
J-J
■
\
1937 J-J
gold 4s_1951 J-J
Registered
1st gold 3Hs
Registered
Extended 1st
Registered
A-O
)Du So Shore & At g5s
1937
! pHgin Jol & East 1st g 5s._1941
\
725s
IIII ~77"I2
Det Riv Tun-Ter Tun 4 Hs_1961 M-N
i Dul Missabe & Nor gen 5s_1941 J-J
,Dui & Iron Range 1st 5s
1937 A-O
Registered
1937 ArO
2d 6s
..1916 J-J
v
A
10212 100l8
8212
109
1939 J-D
.1940 J-J
i
\ N Y 8c Erie
84
1113s
90
1
A-rfrie 1st consol gold 7s._
84
108
84
....
•
Gold 4s
Oct '13
108i2 Sep '13
102lg Feb '03
10784 10884 10734 Aug'13
149
106i2
Aug '01
97
9712 97
97i2
9684 98i2 9784
9734
95
95i2 951*
96
85U Sale
8514
85l4
1137«
12112 May'12
Rens & Saratoga 1st 7s
Denv & R Gr lstcong 4s__1936 J-J
1936 J-J
Improvement gold 5s
1928 J-D
; 1st & refunding 5s
1955 F-A
Des Moi Un Ry 1st g 5s
Det & Mack 1st lien g 4s
105l2
A-O
1955 F-A
Hous Belt& Term 1st
5s..
T llinois Central 1st
*71
1917 M-S
Guaranteed
1940
Rio Gr West 1st g 4s
.1938
Mtge & col trust 4s A
1949
Utah Cent 1st gu g 4s.ol917
103i8
104
....
\ Consol gold 4^s
Rio Gr June lstgu g 5s
Rio Gr So 1st gold 4s
101
J'ly'13
1113sDec '10
103i2 105I8 10212 J'ly '13
94
93i2
Aug '13
1923 F-A
1923 M-N
2000 F-A
-.1943 M-N
conv
Oct *13
....
108U
deb 4s
102
" MaV'io
10078 101i8 101
104
IO284
M-N
1915 J-D
1915 J-D
J-J
conv
90i4
A-O
J-D
10-yr
21
9134
10634 1061*
..1921
Construction 5s
/Term 8c Improve 4s
Warren 1st ref gu g 3 Hs
Del 8c Hud 1st Pa Div 7s
Registered
11948
ext g 4s
Coil trust gold
9138
lstrefgug3^s__J__2000
■
N Y Lack & W 1st 6s
120
94" J'ly" 08
9184 Sale
Refund & ext 4 Ms._
V
£J°J& B V 1st
Registered
Col Mid and 1st g 4s
.1947 J-J
! Trust Co. certfs. of deposit
Colorado & Sou 1st g 4s
1929 F-A
•
104*78
Registered
Col & Tol 1st ext 4s
81." ~82~"
J-D
I
f
'07
82
120
J-J
1937 J-J
.1937 J-J
Will& S F 1st gold 5S...1938 J-D
Gulf & S 11st ref&
tg 5s. .61952 J-J
Registered
&1952 J-J
LTock Val 1st cons
gA^ini^ J-J
Registered.
1909 J-J
1934 J-J
& W 1st pref 4s
1940 A-O
O lnd & W 1st pref 5s___dl938 Q-J
1
B238
Sep '13
90
102
101i4
lnd H
.
92%
89
10038 IOII4 100i4 Oct '13
1934 J-J
Registered
;
w
87
Last Sate
1937
1st guar gold 5s
107i2 Dec *02
87
Sep '13
....
«
General consol gold Cs
j
8684
Registered
Oct
J-D
ext guar 4s £
1940 J-J
E Minn Nor Div 1st
g 4s 1948 A-O
Minn Union 1st g 0s._-_1922 J-J
Mont O 1st gu g 6s
1937 J-J
lOOifi
....
.
1937
Pacific
~97h
Week'.
Range or
Bid
1937 J-D
Registered
Mch'll
8358 Sep '13
"85
§1
fiqes
(Continucd)-~-i-
Mont ext 1st gold 4s
Sep'13
82
91
Apr '12
1047, Sale 10478
10478
9212
97i2 NOV 12
90
Mch'13
92i2
82l2
M-S
Price
Friday
Oct. 17
BONDS
.
Y. STOCK EXCHANGE
Week Ending Oct. 17.
St P M & M
■
91
M-N
1914 J-D
.Consol sinking fund 7s_.1914
;;
V
100
89
J-J
CJI St L & C consol 6s
1920 M-N
1st gold 4s
_._/cl936 Q-F
Registered
A1936
Cin S & Ci con 1st g 5s
1923
_
High
99
IIII "86\
M-N
OOC&l consol 7s
Low
10034 Oct *12
97i2 Oct '13
IIII ~83
*97
J-J
St L Divlst coll tr g 4s
No.
Jan. 1
91l2
88
1939 J-J
4s
1st g 4s
High
N.
Since
3$
~W~a J'nV'12
U
1990
Registered
1990
Spr & Col Div lstg4s.__.1940
W W Val Div lstg 45
.1940
'
Ask Low
97
9712
lnd Dec & VV 1st g 5s
1935
1st guar gold 5s
1935 J-J
Cleve Cin C & St L gen 4s_.1993 J-D
\ 20-yr deb 4^s
__1931 J-J
\ Cairo Div 1st gold
Range
at
Sfe
Nft,
(Vol. xcvii.
Record—Continued—Page 2
Duo July.
107
"99"
i02"
933*
1061* Oct
12
100
101
Feb '13
100
Oct
'09
10234 Oct *13
941*
* Due Aug._s Due Oct.
94
Aug *13
Option-ala.
10
New York Bond
1913.]
Ocx. 18
Week's
Price
BONDS
STOCK EXCHANGE
Week Ending Oct. H.
Y.
N.
*
Since
Jan. 1
Ask Lois
Bid
High
No.
Low
1977
1st consol
1934
goid 5s
Des M & Ft D 1st gu
100
108
90
93
m-n
High
....
92
int gu-1926
J-J
Mississippi Central 1st 5s
1949
J-D
Mo Kan & Tex lstgold 4s__1990
f-a
2d gold 4s
(71990
•
_1944
2004
1st & refund 4s
,
mi ~89"
Dai&
1940
1990
\Valstgug5s
KanC & Pac 1st g 4s
Mo K & E 1st gu g 5s
"
m-n
1942
M K & Ok let guar 5s_„__1942
I M K & T of T 1st gu g 5s_1942
Sher Sh & So 1st gu g 5s__1942
Texas & Okla 1st gu g 5s__1943
Missouri Pac 1st cons g 6s
1920
Trust gold 5s,stamped__al917
Registered
al917
1st collateral gold 5s
..1920
>
.1920
Registered
,
,
,
40-year gold loau 4s
1945
3d 7s extended at 4%.
T1938
1st & ref conv 5s
1959
Cent Br Ry 1st gu g 4s
1919
Cent Br U P 1st g 4s
1948
Leroy & C V A L 1st g 5s_1926
Pac R of Mo 1st ext g 4s__1938
f-a
a-o
m-n
m-s
,
Registered
•
Riv & G Div 1st g 4s
Verdi VI & W 1st g 5s
gold 6s
gold 6s_i
new
1st extension
83%
83%
102
97
96
104
f-a
94*2
97
97
98
"9431
94% Oct '13
m-s
"65" "67"
"67"
66"%
78
Sale
96% May 11
78
79%
77%
f-a
89
90«4
91
Sep '13
90
92
J-D
78
83
76
Sep '13
76
76
110
Mch '05
J-J
89
f-a
1926|M-^
1927
41927
1938
1047
J-J
J-J
J-J
97%
101% 102
100
"78% "79%
79
"80 " "83%
*92
82
96
....
81%
103%
95
Jan '13
112% Sep '13
11234 Jan '13
112% 113
10734 111
80%
Oct '13
81%
813s
107% J'ne'13
111
111
102*4 104% 105% Jan '13
113
J'ly '01
10234
....
70
65
Sep '13
62"" "88%
75
....
77
FeD '1*3
76%
7534
101
96% Feb '13
65
Aug'13
55
47
M-s
F-A
F-A
M-N
M-N
A-O
A-O
A-O
J-D
R W & O con 1st ext 5s__/il922 A-O
Oswe& R 2d gu g 5S
cl915 F-A
R W& OT R lstgu g 5s..1918 M-N
48
1941 J-J
Oct '13
79%
May"
Aug'13
90%
93
90%
MjRV'12
80%
80%
R egis tered
1940
J L & S 1st gold 3 Ms—1951
1st gold 3 Us
1952
20-year debenture 4s^.
1929
N Y Chic& StL lstg 4s_.1937
Registered
1937
West Shore 1st 4s guar
76
76%
70
Apr '13
98
99
May'11
98
Oct '12
98% Jan '13
Oct *02
:n:
i6o34104"
98%
98%
107
Feb '13
92
Aug'13
112r n::
105
105%107
92
92
131% Jan '09
104
105
105
97% Sep *13
98% 100
104
*82
90
77
80
Apr *13,
Sep '13
102
106%
97%
98%
J'ne'10
101
....
84% May'13
..
Sale
92
92
91
91
90%
91%
Oct. '12
93
9Q
" "90"
76
84
J ne'09
Sep '12
Mch'12
Sep '13
88
95%
95*2
85%
88*2
84%
88
90%
93*2
89%
92%
102"" mi
111%
Mch'll
105
10134
Apr '12
119
12
J'ne'06
Apr *12
A-O
84%
A-O
90% Sale
A-O
85% Aug'13
96%
96%
97% Jan '13
87
Aug'13
8684
94%
....
82%
86%
84
89
93*2
99%
80
97*2
9434
95*2
91% Sale
g
5s
1948 J-D
1948 J-D
..1949 F-A
Ed El 111 1st cons g 5s.
1995
NY&QE1L& P 1st con g 5s 1930
N Y & Rich Gas 1st g 5^...1921
Pacific G & El Co CatG & E
Corp unifying ic ref 5s
1937
Pac Pow& Ltlstic ref 20-yr
5s Internat Series
_'___1930
Patic Passaic G & E 5s
1949
100"" IIII
102
J'ly'13
100
109% J'ly '09
91% Feb *12
90% Oct '12
"85" IIII
85
*95
102% Nov'12
95*2 Sep '13
100%
10034
100% Oct '13
92
100%
....
102
100
106
98%
94%
88*4
90
....
106
J'ne'13
106
....
Feb'13
IIII "95 "
93% Jan '11
54
45
A-O
M-N
A-O
F-A
J -j
100% 104
91
certfs of deposit
Southw Div 1st g 5s.-_.1947
98%
Refunding
91%
90
97%
108
j-j
j-j
*
92
96
13
Apr'13
j-j
35
J'ly'13
94
94
a-o
94
""5
IIII "82"" "80." Aug"'13
j-j
107
J -j
M-N
—^
A-O
107
108
99
107
99
99
....
1
1
'72% J'ly '13
73%
75
65% Sale
5434 Sale
93%
69% 70
53
54
94
55%
55
"88
11
Oct '13
6934
69%
80% Mch'll
.....1951 j-j
Registered
Sep *13
113% Nov'll
94%
95
94% Sale
1951 J-j
4s
Feb '13
92
95
105%
J -j
1931 j-j
j-j
..1931 „ „
General gold 5s
St L & S F RR cons g 4s__1996
Gen 15-20-yr 5s
1927
'12
93
III! "69"" "65 " Aug"
1940 A-O
4s
Get
100% Apr '13
....
,91%
Sep '13
98
....
Jan *13
45
" "48""
*90
1943
..1997
.1997
1951
1951
94*2
Apr'13
95% Jan *13
97% Jan 13
92
94%
104%
J'ne'11
94%
96S4
J-J
1920
,1939
Pt Huron Div 1st g 5S..1939
Sag Tus & H 1st gu g 4s^_1931
Philippine Ry 1st 30-yr s f 4s '37
May'10
102% J'ne *12
J-D
geld 5s
g
109
....
..1955
Flint & P M g 6s
Tr Cp
" IIII
1921
g
May'08
86% Sep '13
90% J'ly '12
101% Feb '13
88
98%
1949 F-A
1953 J-D
Series G 4s guar
1957 M-n
C St L & P 1st con g 5s.._1932 A-O
Peo & Pek Un 1st g 6s
1921 Q-F
2d gold 4 Ms
.&1921 M-N
PereMarquette—Ref4s
1955 j-J
1st consol
90
....
98%
J-j
J-j
Series E 3 Ms guar g
Series F gu 4s g__,
97%
89
MISCELLANEOUS BONDS—Continued on Next Page.
100%104% 101% Oct '13
110
112% 112% Oct *13
1922 M-S
Ed E1 111 Bkn 1st con g 4s_1939 J-J
N YGELH&Pg5s
Purchase money g 4s
Jan '05
1942 M-S
Chic YV M 5s
Aug'13
92% Feb '13
110
"100%
guar 4s
95
93%
86%....
92%
PCC & StLgu4Hs A...1940 A-O
Series B guar
1942 A-O
Series C guar..
..1942 M-n
Series D 4s guar
..1945 M-n
Refunding
84% J'ly '13
82% J'ly '13
83%
.
"5
97% Oct '13
84%
15
Gas and Electric Light
1937 A-O
1997 A-O
Lac Gas L of St L 1st g 5s_el919 Q-F
Ref and ext 1st g 5s
1934 A-O
Milwaukee Gas L 1st 4s
1927 M-N
Newark Con Gas g 5s
98
Istgug 4-Hjs_1941 J-j
cons 5s_1927 M-n
Series C 4s
jan '03
100% J'ly *11
90
•
Purchase money 6s
Convertible deb 6s
8334
*86*2
83%
91%
84
1950 F-A
3B..1940 J-j
1940 J-j
93
Gas and Electric Light
Kings Co El L & P
ex
11
101*2
102
102% May'13
84% Sep '13
83%
8334
....
101
B
1942 A-O
Int reduced to 3*^s_IIl942 A-O
Series O 3 ^s__^.._
1948 M-n
Tol W V& Ogu4^sA...1931
Series B 4Ms.
...1933
95%
101% May'12
....
101
Series
Erieic Pitts gu g
Series C__
'
"~2
" IIII
93%
J-D
J-D
85
100%
Sep '12
99% J'ly '13
102
*90
A-O
M-n
M-N
j -J
1931
1942
CI & Mar 1st gu g 4J^s..l935
CI & P gen gu g 4 *^s ser A1942
Mch'12
9934 Aug'13
97%
97*2
96% J'ne'13
100
M-n
94% Oct '13
....
110
100
8734
Co-^Hs._....... 1921 J-J
j-j
Registered
1921 .
Guar 3 Ms coil trust reg_Il937lM-S
Guar 3 Ms coll trust serB. 1941 F-A
General gold 6s
J'ne'08
90
82% Aug'13
...
100% Aug'13
104"
.....
Guar 1st g 4
Guar 15-25-year g 4s
Cin Lebic Nor gu 4sg__
100
100% 100
95%
95% Sale
Pennsylvania
Trust Co ctfs gu g 3 Hs-—1916
Guar 3 Hs trust ctfs C
1942
Guar 3 Ms trust ctfsD
1944
'13
9934
100"
j-i
St Jo & Gr Isl 1st g 4s
t Louis ic San Francisco—1947
98% Nov'11
80
QR
102
Sod Bay & Sou 1st g 5s...1924
Sunbury & Lewis 1st g 4s.l936
U N J RR & Can gen 4s_.1944 m-S
Jersey Cent coll g 4s
Atlan City gu 4s g
1U" Jan"
90
86
89%
99% Sale
D R R R & B'ge 1st gu 4s g '36 F-a
Phila Baltic W lstg4s
1943 M-n
Treading Co gen
H Registered
123% Mch *12
...
—
97% Sale
Pif,ts Sh ic L E 1st g 5s_._
1st consol gold 5s__
130% Jan '09
...
J'ne'12
J'ne'13
91% Apr '11
110% Apr '13
111
Pitts Y & Ash 1st
87"%Pec"'l2
95
—
Jan'12
94
Convertible gold 3>*3___ol9l5 j-d
Registered
ol915 j-d
Consol gold 4s
1948 M-N
Alleg Val gen guar g 4s___1942 m-S
Gr R& I
83%
M-N
J-J
77%
105
M-S
2361
80
.»
10934 Oct '13
112
99%
..
J-J
2361 J-J
Registered
81
75
98
N Y Cent Lines eq tr 4J^s 1922 J-J
91%
98
....
1931 M-N
Debenture 4s
87*2
'76% "83"
"4
115% Aug'11
4s..........1923 m-N
1919 M-S
Serjes D 3^s
90%'
100%
...
8684
80
1940
R egis tered
87
82
77% May'13
88
92
1931 M-S
79"% "87%
80%
...
91
M-S
M-N
.1931
4»
76*2
87
76%
103%110
Mahon C'l RR 1st 5S...1934 J-J
Pitts & L Erie 2d g 5s
_al928 A-O
114% nii
Pitts McKic Y lstgu 6s__1932 J-J
*110
2d guaranteed Gs
.1934 J-J
100%
J-J
McKeesSc B V lstg 6s
1918
Michigan Centra* 5s
75
45
80.
80
102
J-D
M-N
13
83%
83%
82
....
Registered
96%
96%
74
Aug'13
Apr'13
100% Sep '13
1943 M-N
Z.
87
KaA& G R lstgu c5s__1938 J-J
78,
101%
80
Og & L Cham 1st gu 4s g 1948 J-J
92
liut-Canad lstgu g4s__l949 J-J
mi ios' 108
J-J
St Lawr& Adir lstg 5s
1996
*102
119%
2d gold 6s
.1996 A-O
94%
95%
Utica & Blk Riv gu g 4s_.1922 J-J
87% Sale
87%
Lake Shore gold 3 Ms
1997 J-D
25-yr gold 4s
105% 105*2
4
65
110
6s._1933
Consol gold 5s
Consol gold 4s
67%
100%....,107
99
10038]101
Pacific Coast Co 1st g 5s. .1946
ennsylvania RR—
89" " "89""
Jan '13
111
....
1997
1928
1931
1931
107% 109
67
Sale
39
90
Oregon-Wash lstic ref 4s__ 1961 j-j
j-d
96
108%
J-J
Beech Cr Ext 1st g 3Hs.tl951 A-O
Cart & Ad lstgug4s
1981 J-D
Gouv&Oswelstgug 5s_.19421 J-D
1991
N J June R guar 1st 4s
1986
Registered,
___198G
N Y & llarlem g 3 Ms
2000
Registered
2000
N Y & Northern 1st g 5s..1927
N Y& Pu 1st cons gug4s_1993
Nor& Mont lstgu g 5s_
1916
Pine Creek reg guar 6s
1932
11234 H234
80
85%
96
Apr '13
Oct '13
65
.1968 j-d
1948
112% 117%
77"% "83"%
105
108
67
U
1st consol gold 4s
Wash Cent 1st gold 4s
Nor Pac Term Co 1st g
105% 105% 105% Sep '13
"81% "82"
J-J
82
84
J-J
90% 90%
M-N
M-N *80 "
"80%
F-A
80
81
F-A
76
78
F-A
74
78
F-A
90%
J-J
J-J ♦100"
in
J-J
~jr
" Ws
1st real est g
89" " J'ly "'13
J-J
Moh & Mai 1st gu g 4s
78
_
St Paul & D.iluth 1st 5S..1931
2d 5s__
1917 A-O
....
90
J-J
__
79%
104
103
20
Sep '13
103
j-d
M-S
gold 6s___1923 F-A
Registered certificates__1923
9234
Jan '11
89
102% Sale 10234
103%
88
88
88% 88
100%
105*4 Jan '13
90
Oct '13
90
95
fm
110
95
9434
95
Sale
94% Oct '13
*9434
a2047 Q-F
St P & N P gen
100
80% Oct '12
A-O
A-O
J-J
10134 103
102%
102
St Puul-Duluth Div g4s..1996
Dul Short L 1st gu 5s.
1910
Oct '12
104
9234
93%
98
a2047jQ-F
Registered
90" ~93~%
90% Aug'13
10is4 J'ne'13
ioi84
....
Mch'13
"88% II!
1997 Q-j
Registered
General lien gold 3s__
Oct'13
Apr'13
123
Jan 13
115% J'ne'13
116%
116%
92%
Scio V & N E 1st gu g 4s..1939
m-s
m-n
96
....
116% 119% 118
Northern Pacific prior Ig 4s 1997
f-a
1997
1934
-.1934
Lake Shore coll g 3 Ms
1993
Registered
1993
Mich Cent coll gold 3^8-1998
Registered
.1998
Beech Creek 1st gu g 4s__1936
Registered
1936
2d guar gold 5s
1936
Registered.
1936
\
"88""
106%
95% 100
May'12
97
A-O
Debenture gold 4s
64" "70%
103
89% Feb '12
100
96
....
100
Pocah C & C joint 4s_..1941
C C & T 1st guar gold 5s
1922
101%
96
103
N Y Central Ac H R g 3^8-1997
.
91" "90%
97
10
83% Fel> '13
i 88
95
&f% J'ne'12
to
•IIII "87%
General 4s
104%
103% Oct '13
96
70
87%
Norf & West gen gold
108
98
8234
Aug'09
"99"% M("h""l2
lG4f>
,
6s...1931
Improvement& extg6s..l934
New River 1st gold 6s_._.1932
N & W Ry 1st cons g 4s...1996
Registered
.•
1996
Div'i 1st 1& gen g 4s.__.1944
10-25-year conv 4s.....1932
10-20-year conv 4s
..1932
Convertible 4Mb
.1938
101
103%104
N 0 & N E prior lien g6s__pl9l5
Registered
87%
m-n
m-s
m-s
4s
Feb'13
82*1
107
Norfolk Sou lst& ref A 5s__196l
Norf & Sou 1st gold 5s
1941
101% 101%
New Orieanr Term lst4s__1953
4Ms
82
110
83%
Registered $5,000 only__<7l992,
101% Mch'13
T & P Branch 1st 6s
.1917
Nat Rys of Ilex pr lien 4Hs 1957
Guaranteed general 4s
1977
Nat of Mex prior lien 4^8-1926
1st consol 4s
^1951
N O Mob & Chic 1st ref 5s_1960
g
Consol
78%
102
87
103*2
Providence Secur deb 4s..19 57
NYO&ff ref 1st g 48___0l992
87
77%
102
99
McM M W & A11st 6s___1917
Rutland 1st con
May'13
77%
....
N;ashvilleCh& StL 1st5s 1928 'J-J
I
Jasper Branch 1st g 6sl923 A-O
Registered
Debenture gold 4s
Registered
10
78% Apr '13
75
9934
m-s
1929
..1929 J-J
1933 M-N
General gold 4s
1
70
9
88
107% 1695
99% Nov '12
99% J'ne'12
90% Mch'13
N H & Derby cons cy 5s_.1918
New England cons 5s
1945
95%
8184
74
73
114
73
74
108*2 Sale 108*2
106
Sale 105%
....
No.
Oct '13
80
70
j-j
j-j
High
79 - Oct '13
....
79
M-N
Cent New Eng 1st gu 4s..1061
Housatonic R cons g 5s.
1937
NYW'ches&B lstser 14Ms '46
T-"
Apr'13
82
May'13
Oct '13i
10238 103% 103
99% Oct *13
99U101
99
9634 iooi4 99
J-D
62%
91" "97""
89
70
102
J-D
G-J
M-S
Montgom Div lst g 5s_.
F-A
St Louis Div '5s
1927 J"D
St L&Cairoguarg4s____1931 J-J
Mob & Ohio
5
97%
67%
79%
84*4
—
2d extended gold 5s
1938 J-J
StL Ir M&S gen con g 5s_1931 a-o
Gen con stamp gu g 5s__1931 a-o
J-J
Unified & ref
gold 4s
Ask Low
79
la
Last Sale
B & N Y Air Line 1st 4s_.1055
92
89%
74% Oct '13
71
83*4
J-J
fund 4 Ms
1936
a-o
St Louis Div 1st ref g 4s__2001
54
j-j
20-yrc onv deb 6s (wh iss)
Harlem R-Pt Cbes 1st 43.1954
100
98% Sep '13
68
Gen sinking
88
89
75
981*
m-s
Conv debentures Ms
Conv debenture 6s
7934 Dec '12
97% J'ne '12
96% May'12
98% Mch'll
1055
1956
1956
1048
Non-conv 4s__
Oct '13
54
92
—
m-n
Nov'10
55*4
"96*4 mi
J-J
" Mctf'Io
7934
Sale
—
J-J
M StP&SSM con g4sintgul938
1st Chic Terml s f 4s
1941 m-n
M 3 S & A 1st g 4s
Week's
Range or
Bid
Non-conv deben 4s
124% Oct '12
110% Aug'11
90
Sep '13
107*4
1949 m-s
4s__1935 J-J
1st ext gold 5s
77
79
ill "75
MS
1927 J-D
a-o
PacificExt lstgold 6s_.—1921
1st and refund gold 4s
Price
Oct.
N Y New Haven & Hartf—-
m-s
con
ex
Stamped guaranteed
Minn & St L let gold 7s
EXCHANGE
STOCK
Week Ending Oct. 17.
m-n
Manila RR—"Sou lines4s_1936
Internet 1st
g 4s 1977
y.
n.
Range or
Last Sale
Friday
17
gs
BONDS
Range
Friday
Oct. 17
S<S
NO.
1099
Record—Continued—Page 3
J-J
86%
100%
Dec '12
124% 122
88% Apr '13
100
100*2
102% Oct '13
102%
83*2
106% Apr *13
101
Sep '13
92% J'ly '09
10is4 Sale 101%
82*2
82% Sale
107
F-A
101
93
93% Sale
F-A
M-S
99*2
89% Sep '13
90%
M-N
M-N
99%
99% 100
102
95
99
93%
101% 10434
107
114
1943
1947
1947
Ch G-L & Cke 1st gu g 5s_1937
Con G Co of Ch 1st gu g 5sl936
Ind Nat Gas & Oil 30-yr 5s '36
Mu Fuel Gas 1st gu g 5s..1947
Philadelphia Co conv 5s
1919
Conv deben g 5s
1922
Peo Gas & C 1st con g 63
Refunding gold 5s
Registered
88%
100
99
88%
88%
102%
102
90
101%102%
100% 103%
82
86*2
106% 108%
99% 101%
Stan Gas 4s El conv
s
f 6s
Syracuse Lighting 1st g
J-J
101
J-D
100% Sale 100
100%
93
m.
m
Sale
99%
99
101
993
Sep '13
116%
101
99% 101%
99
i.99
98
103%
99% 102
m-n
1926 J-D
99
Aug'13
99"" "99
95
95
95
Sep '13
95
97%
Sale
95
93
98
9434
100
5s..1951 J-d
J-J
mmmm
mm mm
96
94% Oct *13
101
92% 100%
Dec '11
85*2 J'ne'12
100
Feb '01
mmmmmmmm
97
J'ne'13
97
102
4
mmmm
mmmm
92
J'ne'13
92
93
$
101
....
101
J-J
94%
m
99
....
J-D
94%
m mm
92
m-n
f-a
J-J
94% Mch'13
102% J'ly '12
112
Mch'12
99% Sale
mm*
m-n
m-S
m-N
96
114
110
m-s
91
112
a-o
m-S
m-S
102
-
---
Sale
100*4 Dee '11
102
102
101%
ioay
—
♦
No price
Friday; latest bid and askecL
a Due Jan.
b Due Feb.
e Due May.
0 Due
June.
4 Due July.
0 Due Oct,
V Due Nov.
s Option sale, /
1100
New York Bond
[Vol.
Record—Concluded—Page 4
xotii.
V
y.
bonds
exchange
Price
Week's
Range
Friday
Oct. 17
stock
Week Ending Oct. 17.
-
Range or
Lau Bald
Jan. 1
Bid
Ask Low
it l & San Fran (Con)
109
108u 109
:KO Ft s & m con g 6s...1928 ;yi-n
a-o
71
70
71
t'KiO Ft s & m By ref g 4s-1936
1936
a-o
kc & m r & b 1stgu 5s.1929
Ozark & Ch o 1st gu 5s g„19l2
Bt l s w 1st g 4s bd ctfs
1989
1 2d g 4s inc bond ctfs____pl9»9
v Oonsoi gold 4s
1932
a-o
a-o
Registered
}
m-n
j-j
j-d
Gray's Pt Ter 1st gu g 5s_1947 j-d
(b a& a Pass 1st gu g4s
1943 j-j
fe f & np 1st sink xg5s...1019 j-j
a-o
Seaboard Air Line
g
Gold 4s
stamped
¥ Registered
1950
4s
1950 a-o
_
1950
Adjustment 5s
ol949
'Refunding 4s
•;
1959
atl-Dirm 30-yr 1st g 4s
el 933
Car Cent 1st con g 4s
.1949
fla Cent & Pen 1st g 5s__1918
1st land gr ext g 5s_.
1930
Oonsoi gold 5s_^
..1943
(Ga& AJa Ry 1st con 5s__ol945
(GaCar& No 1st
gu g
Seab & Roa 1st 5s_
_
*1949
^1929
;
g
Registered
a-q
m-s
j-j
99
99% May'13
86%
78
78
80
78
78
76
83
78
Sale
80
Sale
101% Apr 07
80
80%
~72%
75
83
....
*80
_
....
104
j-d
g
107
1994 j-j
1994 j-j
Develop & gen 4s Ser a..1956
Mob & Ohio coll tr g 4s__1938
Mem Div 1st g 4j^-5s
1996
8t Louis div 1st g 4s:.
Ala Cen r lst.g 6s
Ati & Danv 1st g 4s
a-o
m-s
j-j
1951 j-j
1918 j-j
1948 j-j
1948 j-j
1st g guar 4s__1949 a-o
fAtl& Yad
\Coi & Greenv 1st 6s
191g
j-j
TVa& Ga Div g 5s...1930
Con 1st gold 5s
.1956
j-j
m-n
>e
Midland 1st 3s
1946 a-o
Pac lly 1st g 6s
1922 j-j
nox & Ohio 1st g 6s__,_1925 j-j
[ob & Bir prior lien g 5s.1945 j-j
a
§ Ten reor lien g 5s .1938 m-s
a
)
Mortgage gold 4s_.___.1945 j-j
Rich & Dan
88
90
■
91%
103% 103%
,t'nc'12|
j'ly *13
102
....
101%.... 105
102
105
102% 103%
May'12
89%
89%
93%
91%
177
85
Sale
85
86%
87
84
92
Sale
92
27
90
91%
100%
100%
100%
88%
86%
87
con
g Gs
Deb 5s stamped
rich & Meek 1st g 4s__
i
1915 j-j
.1927 a-o
1948m-n
1919 m-n
\Virginia Mid ser c 6s____1916 m-s
f Series d 4-5s
....1921 m-s
( Series e 5s
1926 m-s
1 Series f 5s.....1931 m-s
€ General Ss......
1936 m-n
Va & So'w'nlstgu 5s..2003 j-j
;
1st cons 50-year 5s
..1958 a-o
w o & w 1st cy gu 4s
1924 f-a
ro Car & Ga 1st g 5s
>
j'westn c 1st
con g 6s
1914 j-j
BpokaneInternal 1st g 5s_.1955 j-j
rper a of St l 1st g 4 J4s._1939 a-o
\x 1st con gold 5s
1894-1944 f-a
4 Gen refund s f g 4s
.1953 j-j
/St l m Bge Ter gu g 5s__1930 a-o
(Tex & Pac 1st gold 5s.____2000 j-d
v 2d gold inc 5s
(j2000 Mch
fla Div b l 1st g 5s
..1931. j-j
/ w MinW&n w 1st gu 5s.l930 f-a
ntoi & o o 1st g 5s
.1935 j- j
t Western Div 1st g 5s__
1935 a-o
\General gold 5s_
1935 j-d
>Kan & m 1st gu g 4s
1990 a-o
/
2d 20-year 5s_.........1927 j-j
KTol p & w 1st gold 4s
1917, j-j
rTol Sb L & Wprlieng3^s_1925 j-j
p 50-year gold 4s
1950 a-o
|_Coll tr 4s g Ser a
1917 f-a
£Tor llaxn & Buff 1st g 4s__7il946 j-d
iTIISter & Dei 1st con g 5s_ld28 j-d
1st refund g 4s
;._._1952 ato
lUnion Pacific—
[ 1st rr & land grant g 4s.l947 j-j
95%
9334
06%
91%
104%
102
Sep *13
93
102
10
102
108
93
108.
92%
106
Oct '13
"
108
105% j'ly '13
106%
110
105% 107
Feb *07
112
101% May'13
101% j'ne'13
91% Sep '12
87
101%
102""
101% 101%
90
Oct '13
1927 j-j
\lst & ref 4s
&2008 m-s
f Ore Ry & Nav ;tm g 4s
1946j j-d
\ Ore Short Line 1st g 6s_.1922 f-a
v
1st conSol ,' 5s__.
..1946 j-j
v Guar refund 4s
1929 j-d
utah & Nor gold 5s,
1926 j-j
1st extended 4s___
1933 j-j
TXandalia cons g 4s Ser a.1955 f-a
v
cpnsol 4s Series b
1957 m-n
Vera Cruzft p 1st uu 4hs_1934 j-j
Virginian 1st 5s Series a
1962 m-n
Am Spirits
; : -
91
40
103%
Aus '13
74%
"26
81
3
103%
103%
83% Oct '13
105%
101
107%
104%
72% 78%
78% 86%
2
102% 107
79%
88%
86%
"87%
Dec" li
103
105
j'ne'13
106'
103
104% Oct *13
105% j'ly '12
64% 64% May'13
106
Aug'13
108% Oct '13
108%111
♦99
105% nov 12
79
Mch* 13
68%
104% 109%
100% 102% 100% Sep '13
100% 102% 103% Jan *13
♦70
73
Sep 12
100
102% 98% j'ly '13
100% 102%
103% 103%
...
63* '64%
—-
106
no
107% 112
*100
...
*100
...
*100
...
Oct '06
112
104% j an '13
10484 10434
101
Mch'13
104
102
j'ly *13
j'ne'13
Oct '13
102
j'ne'13
92
101%
102% 104% 102%
91
93
91%
92
.85
...
...
....
Sale
104% 105
88
*99 "
.
88
40
99% Apr '11
106% nov 04
103% Oct '13
103% 105
101
102%
Aug'13
102% 103% Sep '13
85
85
Sep '13
96
95%
95%
91
84
Aug'13
85
84
Sale
68
....
....
84
88
89%
54
Dec
«
mm —
1Q2
106%
101
85
103%
91%
94
99
80
1
101
100
«...
91%
4
47% "60"
12
~84% "89""
84% Oct '13
101"
Oct '13
Sale
97
90
Sale
90
97%
96%
9134
91
92%
92
92
91
91%
92
92
96%
109%
109%
106% 107
90%
...
109%
106% Oct" '13
90%
91%
108
May'11
100
104%
42
95
09%
10
96%
98%
190
97
8
86%
88%
1
91
9334
95%.
1
108% 112%
103% 109
8
86% 93%
94
90
98% Sale
Mch'13
Oct '12
98%
98%
g Gs
28
1
Sale
1
1
1
1
1%
81%
77i2 Sale
103%
81% Sep
100
Sep
*:::: "32%
100% 103
3
1
sl%
3
82%
75
83%
%
13
12
19
77%
79
103% Sep '13
86
103% 107%
Oct '12
34
Feb
103
07,
13
Oct
95
100<8 103
95
100
90
99
99
Feb
13
99
73%
95%
78
74
Oct t3i
70
101%
80%
87
86%
89%
87%
88
89
98% Feb '11
87%
87%
86%
86%
88%
88%
49
95
....
j'ne'13
62
100
"stf8 "ji "
84
91%
88
79
103
90%
—1951 f-a
j-j
Baldw Loco Works 1st 5s-.1940 m-n
1st
f 5s.1019
s
Beth Steel 1st ext sf5s
1st & ref 5s guar a
1926 j-j
1942 m-n
Cent Leather
20-year g 58.1925 a-o
Consol Tobacco g 4s
.1951 f-a
Corn Prod Ref s f g 5s
1931 m-n
1st 25-year s f 5s
1934 m-n
Cuban-Amer Sugar coll tr 6s 1918 a-o
Distil Sec Cor conv 1st
g 5s. 1927 a-o
e i du Pont Powder
4Ks.. 1936 j-d
General Baking 1st25-yr6s_1936 j-d
Gen Electric deb g
3^s._.1942 f-a
Debenture 5s
^1952 m-s
Gen'l Motors 1st lien 6s___1915 a-o
111 Steei deb 4hs____
1940 a-o
Indiana Steel 1st 5s.
..1952 m-n
Int Paper Co 1st con g Gs—iois.f-a
s
f g 5s
s f 5s.
..1935 j-j
1929 m-s
Int St Pump 1st
Lackaw Steel 1st g 5s
1st con 5s Series a
1923 a-o
1950 wl-8
.
5s.
..—...1951 f-a
env 6s
a.'21 a-o
"93"" "94"
....
"16
93
96
46%
80
80
25
93
" "98%
63
1U178
97%
92%
70
80
101
105
80
99%
91
115
118
Oct'13
116
Sale 116
116
116
96
90
94
Sale
95
98% 103%
Sale 103
103%
94
99% Jan '13
90%
62
94
95
|
100
Oct '13
j'ly '13
96
VVritg Paper
62
Sep '13
Oct '131
99%
93
88
116
r?$if}:erzd
Sale
97
96% 97
92% 92% Aug '13
101
101
100% 101
1944 a-o
99%
93%
120%
117%
97%
95% j'ne'12
"81%
81
81%
Sale
82%
102% 103% 103% Oct '13
95
Sale
94%
82
Sale
81%
94%
103
95
82
94% Sale
95
9478
95% j'ly '13
96% Feb '13
98
92%
95
90
94
91
91
96
94% Feb '13
58% Sale
.
97%
96%
93%
90
94%
54%
96
90
21
79<8
90
95%
"2
92%
75%
98
76
8638
97
5!
85
85
t3]
96%
85%
56
Sale
Oct
90%
103%
92%
79%
91%
95%
95%
92% Aug'13
77
77
77
102%
102% 103
98%
98% 99
84
85
Sale
99
Sale
98%
101%
101% 102
14
103%
98%
2
85
23
101%
82%
82
101% 105%
97% 100
6
99
70
5
81% 89%
98% 101%
100
105
86%
Sale
82%
1
82%
65
65
4
59 <8
91%
88%
92% Sale
92%
92%
1
91%
96%
82
65
74
75
75
71
Oct '13
95% 95% 95%
120% Sale 120%
97%
97% 98
95%
120%
119
-...119
96
96% 96
95
99% 95
"_2
119
80%
93
96
13 116% 122%
6
94
99%
97%
2
8
96%
115
122%
94%
997g
Oct '13
95
j'ly '13
88% Feb '13
85
95%
85
100
Nat Enam & Stpg 1st 5s__ 1929 j-d
Nat Starch 20-yr deb 5s
.1930 j-j
84
88%
88%
National Tube 1st 5s
...1952 m-n
n y Air Brake 1st conv 6s_1928 m-n
95% 96%
97% 100
96% Oct "13
94
99%
98
98
96%
96%
90% Oct '13
88
90
Latrobe Plant 1st
lnter-ocean p 1st
s
s
f
Repub 1 & s lst& col
10-3 0-year 5s
s
5s._1921 j-j
5s__1931 a-o
f
tr 5s. 1934 a-o
__'__1940 a-o
f
Standard Milling 1st 5s
1930 m-n
The Texas Co conv deb 6s_1931 j-j
Union Bag & Paper 1st 5s.1930 j-j
Stamped
1930
Realty & i conv deb g 5s_*24
u s Red & Refg 1st g 6s
1931
u s RubberlO-yr coll tr 6s_1918
u s
8
j-j
j-j
j-j
j-d
StpeTOorb—/coup __dl963 m-n
f/10-60-yr 5s|reg
...dl963 mrn
Va-rCar Chem 1st 15-yr 58.1923 j-d
it
Electric 1st
5s
Dec 1922 j-j
itinghouse e & m s f 5s.1931 j-j
j-year coll tr notes 5s__19l7 a-o
Telegraph & Telephone
Am Teiep & Tel coli tr 4s
1929 j-j
Convertible 4s
1936 m-s
Commercial Cable 1st g 4s_2397 q-j
Registered
2397 q-j
j-j
j-j
Cumb'dT& t 1st & gen 5s_1937
i£eystone;Telephone 1st 5s_1935
Metropol Tel&Tel 1st s f 58.1918
Mich State Telep 1st 5s
..1924
n y & n j Telephone 5sg_1920
n y Telep lst& gens f 4hs 1939
m-n
f-a
—
87%
98
102% 103% 102%
91
....
„
Sep '13
99%
30
100
97%
103
88% 92%
83% 89%
94% 101%
85
90
85
91% Jan '13
89%
91%
84
85
84
Oct '13
80%
20
30
27
May'l3i
89
27
90
Feb '13
102% 102% 102%
99%
99% Sale
09%
99% Sale
94
94% Sale
100% 101% 101
91%
102%
100%
100%
94%
■
91%
96%
97%
252
-h
2
23
88
87%
....
96
"78"-iii
*77
96%
97
99
94
82
90
583
102
99
99%
103% May'll
97%
97?8
98%
98%
97
Sale
97%
qq
97%
98%
92
Oct '13
92
96
160%
91%
161%
101%
97
Oct *13i
103
58
"89%
97% 110%
95%. 164%
100
Sale
97
96%
91%
25
97
100
98% Sale
97%
68
87%
96%
.91% Sep *13
j'ly '13
89
99
90%
82% Dec~'12
83% nov'11,
97%
98%102
99% 102%
88%
85
103%
96% 102
1
-
101% 102
Sep t3j
Sale
95%
97%
100
9
91%i
96% Sep *13
....
92
25
26
101
91
_
Mut Un Tel gu ext 5s
m-n
..1941""
Northwest Tel gu 4>$s g.1934 j-j
102
91
88
8i
103
95%
103
91
Sale
99% Sale
m-n
m-n
Pac Tei & Tei 1st 5s
1937 jSouth Bell Tel & t lsfcs f 5s 1941 jWest Union col tr cur 5s...l938 jFd and real est g 4hs__
1950 m-n
...
•f--
Apr'13
93
40-yr
4s
20-yr convertible 4j^s
1933 m-s
Chicago Telephone 1st 5s__ 1923 j-d
99
"93"
m-s
j-j
1944 a-o
u s
85% j'lie'12
96% Sale
85
"
Dec '12
54
65
104
loo"" 107"%
....
r
11%
16
Railway Steel Spring—
104% 104%
106% Sep '12
102
51
Nov'12
...
92
99% 101
101% Sale 101%
8934
27%
16
g Gs......1915
Mexican Petrol Ltd
105
108%
102% 108%
90% 95%
100
Aug'13
102% Apr '11
99
99
104%
104%
88"
101% 105
100
26%
11%
Sale
81
80
13
....
1928
5-year convertible 5s
1915 m-s
Liggett & Myers Tobac 7s_1944 a-o
5s
.1951 f-a
Loriilard Co (p) 7s
1944 a-o
98% 101
103 h nov'12
...
97
75
16
1936 j-j
a-o
4>$s ..._»1915 q-f
Mfg
Consol conv
79" "79"
..
101
May'13
j'noT3
17% Oct *13
"10" ""Is"
1051 f-a
a
...
...
84%
"65"* "65""
65
77
13
Registered
90
*87~" "94"%
100
104%
99%...
54
65
*65
73
*
54
51
102% 107
Aug'12
....
647*
"4"5" " *61%
46%
Oct '15
80
65
80
industrial
Am Thread 1st col tr 4s...1919
am
....
____
Aug 13
NovT2
46
Sale
103% 107% 105
Gold
86%
63
*70" iiii
20
term 1st 4s '3d m-n
deposit...
Ag Chem 1st c 5s__
Am Tobacco
105% Sep '12
87% Jan '13
82% Feb '14
*92
4s..1u49 j-j
gen
Debenture 5s_
1931 m-n
Am Hide& l 1st s f
g 6s...1919 m-c
Amer Ice Secur deb
g 6 ...1925 a-o
Am Smelt Securities s f 6s_1926 f-a
101% May'11
——
87
j-j
b 1st 4s..1960 j-j
Ailis-c11 aimers 1st 5s
1 rust Co ctfs
Am Cot Oil ext
Jan '13
74
99
5s___Il922
f
s
50-yr 1st
manufacturing &
Am
94
119% Mch'10
106
108
81
100
gold 5s
1st consol 4s__
Sup&dul div &
ldd" 102""
Sep '13
103
82
*100
1930 f-a
1949 m-s
Impt
104
Sep '13
101%
84%
103
rr
Mch'13
Sale
*99%
Exten &
80
46%
45
47%
49%
50% Aug *13
52
Wheeipiv 1st
wis Cent
100
103%
83%
dl043 Nov
l e 1st g 5s... 1926 a-o
gold 5s_._1928 j-j
wbeeimg&
98
,20-year equip
Winston-saiem s
103% Sale 10278
1947 j-j
Registered
v-20-year conv 4s
v
gu 3^s_..1945 f-a
lsUO-year guar 4s
1945 f-a
West Maryland 1st
g 4s...1952 a-o
West n y & pa 1st g 5s.1937 j-j
Gen gold 4s
...1943 a-o
88" -9l"
102
...
80%
Mch'13
"98%
102% j'ly '12
...
74
80
99%
98%
49
1
uc certfs
«7
83
104
79
High
106%
94%
May'l^
Sale
101
4
j'ne 12
64
ret
16
103%
97%
48
& Ch ext 1st g 5s...1941
Des Moin Div 1st g 4s...1939
om Div 1st g
3Hs__....1941 a-o
Div 1st g 4s
1941 m-s
Wab Pitts Term 1st g 4s..1954 j-d
Cent and Old Col Tr Co certs.
Columbia Tr Co ctfs
2d gold 4s
i.i1954 j-d
94% j'ly '12
90% Sep *13
88
Aug *13
~90% ii "1
82%
4
49
46
Income 5s_____
92% Sale
92%
90
....
Since
Jan. 1
No, Low
High
99
Co ctfs..
Stamped
is
33
90
iiii ~97"
50%
Wash Termi 1st
102% Apr '13
....
1956 j-j
....
■,
Registered
v
82%
Nov'12
....
79
dp
_
_
j-d
j-d
m-s
4s_1954 a-o
1st consol g 5s
2d 4s
72%
103% Jan '13
....
....
t
86
"66"% "77"%
j'ne'13
90
....
....
■
79%
"73%
72%
72%
82% Oct '13
5s..1933 m-n
103
105
i
1st guar 5s red
1933 m-n
107% 109
! b & to 1st g 5s int gu
1937 j - j
92
93%
\ Gen gold 4s int guar....1921 a-0
115
} Waco & n w div 1st g 6s 193 0 m-n
101% 104
a & n w 1st gu g 5s
1941 j-j
*
Morgan's La"&~t 1st 7sIIl918 a-o *107%
104
\
1st gold 6s
1920 j-j
102%
• No of Cal guar g 5s.__.__1938 a-o
100%
tOre & Cal 1st guar g 5s__1927 j - j
101%
So Pac of Cal—Gu g 5s_.1937 m-n
<So Pac Coast 1st gu 4s g.l9c7 j-j
87
[Ban Fran Terml 1st 4s_.1950 a-o
}Tex & n o con gold 5s__l943 j-j
90
Sale
So Pac rr 1st ref 4s ....1955 j-j
outhern—
"83" " "85%
Oct '13
84
"72"%
Low
103% Sale 103%
96% Sale 96%
Stamped
Equit Trust
83
m-n
.1939 f-a
1939 j-j
1st ref and ext g 4s
Cent Trust Co ctfs
Do
*79% "85%
'09
Oct
83
Sale
iod4
gh&sam& p 1st 58.1931 m-n
Gila vq&n 1st gu g 5s.1924 m-n
Hous E & w t 1st
104
*83" iii1
.82% 85
;1939
5s
Debenture Series b_
1st hen equip sfdg 5s
1921 m-s
1st Hen 50-yr g term 4s_.1954 j-j
84%
78
Sale
Week's
Range or
Last Sale
Oct. 17
Bid
\ yabash 1st gold
»v
2d gold 5s
99% 100%
1)0
85%
78
j-j
j-j
4s__194& f-a
1949 f-a
gu
78
stock
exchange
Week Ending Oct. 17.
High
8534 Sale
j-j
j-j
Mort guar gold 3^s_.*1929
Through stx. 1st
113%
65
77% j'iy '12
100%
10178
101%
102%
j-j
.1926 j-j
Registered
20-year conv 4s
[Cent Pac 1st ref gu
f-a
5s__1929
louthern Pacific go—
Gold 4s (Cent Pac coil) .*1949
bow
105
a-o
.
_
No
" "hi 103% j'ly '12
*92
■
fc
High
Oct '13
Oct '13
Range
Price
Friday
bonds
y.
n.
Since
"95% "98%
95; 101
4
97
101
3
96
102%
88%
96%
93
93
75
74
9034
89%
82%
62
89%
96
104
j'ne'11
93
Jan *13
*90%iiii
—.j
MISCELLANEOUS BONDS—Concluded.
Coal St. Iron
Miscellaneous
J-D
gen sf g 5s—1943 F-A
LOol Fuel gen 6s
1919 M-N
ol Indus 1st & coil 5s gu__1934 F-A
s
f g 5s. 1951
s f 5s.
ocah Con Collier 1st
it L
Rock
Mt& P 1st 5s...
?enn Div 1st g
1
No price
75
93%
99%
Sale
104
80
80
76
wmmmmmm.
92%
80%
aupt3
93
*77% "85"
Oct '12
J-J
J-J
85%
77% Sale
Sale
99
J-J
A-O
—
•
—
77%
09
98
98
85
«7%
80%
77%
100
mm
m
—
—
—
-
92%
73
95
May'13
-
93
92
—1955
ex—...1960
85
180
96
Int Mercan Marine 4 ks
Int Navigation 1st s f 5s
61
97%
62%
77
Sale
guar tax
.1922
1929
MgeBond (n y) 4s ser 2..1966
10-20 yr 5s series 3.
1932
Morris & Co 1st
Ontario Transmission 5s...1945
103
4s.._1951
Niag Falls Pow 1st 5s......1932
"79"% "80'
92
98
«
5s.l1959
RayConsOopper 1st cony 6sl921
Wash Water Pow 1st 5s
.1939
88
89%
85
61
77
94
122
85% Oct '13
Sep '13
99
Oct *13
165
190
94% 168%
Oct'13
....102% 1C0%
—
87
89% Sale
10s
92
75%
89%
99%
89%
82
100%
m
100
192%
»
•
12
89%
107%
103% 102
99%
61
Deo '12
Sale 106
66*8
79%
66li
78
99% May'13
86% J'ne'13
82
May'13
f 4hs...1939
103
s
Aug'13
91% Oct '13
87
*160
Bldgs 5s
Pub Serv Corp n j geu
80
93
88
88
n y Dock 50-yr 1st g
—
84
75
90
75
Ohino Copper 1st conv 6s..1921
98% 103
100% 103
100% 102
Friday; latest bid and asked, a Due Jan. d Due April. « Due May.
76
85%
10178 101% Sep '13
102
102
Sep '13
103
j'ly '13
Sale
90% Sale
....
Inspir Cons Cop 1st 6s (rects)—
76
Jan *13
98
86
J-J
Adams Ex coli tr g 4s..
.1948
Armour & Co 1st real eet4^s '39
Bush Terminal 1st 4s..
.1952
Consol 5s
30
102% Apr '06
91
J-J
J-D
M-S
J-J
M-S
90
Sep *13
104% 107% j'ne'12
A-O
[an & H O & O 1st
90
75
98
J-D
.
Sep'13
j'ne'13
98
95
jOoi f& 1 Co
J-D
.
75
90
to
90%
Puff & Susq Iron si i 5s....1932 M-S
Debenture 5s
cl926
•
•
'•.*
Deo'12
Due June, h Due July, k Due Aug. 0 Due Oct. v Due Nov.
q
Due Deo.
19
*
88% 63
97% 121
Option sale*
CHICAGO STOCK EXCHANGE—Stock Record.
af the
Oct
16
Oct.
15
EXCHANGE
~
Lowest
Highest
Lowest
Shares
17
Oct.
Yecr (1912)
Ranee for Year 1913
CHICAGO STOCK
Week
Friday
Thursday
Wednesday
14
Oct.
13
Oct.
IX
Oct.
Tuesday
Monday
Saturday
Previous
Range for
Sales
BALE TRICES
STOCKS—HIGHEST AND LOWEST
Highest
Railroads
30
*25
30
*25
30
Last Sale 28
*75
85V
*75
85%
*75
Last Sale 70
•93
95V
*93
95%
*93
85%
95%
;
27*4
28%
734
734
*2V
8
3i4
29
29
28%
734
3%
27V
28
*7%
•2i2
July *13
Last Sale 95%
Oct* 12
*2%
734
3%
mm
.
-
-
mm m m
«.•••
-
Last Sale 2%
•20
30
*20
30
*20
30
Last Sale 25
Oct'13
Sept'13
•30
40
*30
40
*30
40
Last Sale 41
Nov'12
Last Sale 4%
Oct'13
Last Sale 31
Oct'13
•412
6
6
*4%
*30
35
31
35
*30
35
•30
6
*4V
32
IS
mmmmm
28%
28%
29%
mmmmemm
'
Je,
24V J'ne 4
70
J'ly 10
Jan 14
Cbfcago Eler Rys com 100
Da
pref
-—100
Chic Rys park ctf "1"—
1,578 Cbic Ryn part ctf "2"
35 Ohic Rye port ctf "3"
Chic Rys part ctr
Kansas City Ry 6# Lt_ 100
"Do
'm
pref.
_100
June'13
*25
-
"m
5V J'ne
6
J'ne
9
2
,16V J'ly 24
mmm m
m m
J'ne 10
18
Nov
30
Jan
3
25
91
Jan 20
90
May
102
J'ne28
83
Dec
40
19*4 Nov
33% Sep
6
9
Sep
2
4V Apr 5
37
Sep 26
tt
J'ne
3
Oct
Do
-
25
100
rref
7
Sep 22
"9V
25
60V Jan
11% Apr
Jau
52
1U2 Jan
47
Oct
6
Mch 18
45
Sep ;
()ct
Mch
3
35
Jan
<
5% Jan
14V Aug
40
"4V Oct"
Streets W Stable C L.100
i,
Jan-
11
m> m
mmmmm
Apt
93*^ 3 an :
104% J an
38
Jam
J'ne
Miscellaneous
33%
31V
If*
95
95
03%
33
Last Sale
93%
*50
52
Oct'13
120
•75
77
*75
77
76
76
*49
54
*49
54
*49
54
54
53
52
52
•
-
-
mmm
Q
139
212
210
136
P
o
»9l4 v: 9%
i
5334
212
213
137
Last Sale 52
137
9%
w
8%
.9%
136
99
99
*24
25
•99
99V
61V
9%
99"
"eg"
98
*24
25
J
*23
24
99
99
99
99
61%
<
6D4
*61
64
Q
TO
L
Last Sale
mm—
77"
*74
«
.*74
Chicago Title <Sc Trust 100
47V J'ne12
200
Apr 26
125
120
120
*117
120
121
*118
121
*116
120
*110
115
*110
115
*110
112
*110
112
s
116
115V
•37
o
o
38
Do
„
'
'
mm
25
38
123
125%
83
*80
82
95%
*96
96%
Do
Oct'13
Sa\e 117
113
115
Oct'13
*
mm mm —
124%
*S0
97
*20
23
*20
23
*20
•47
54
*47
54
*47
54
175
179
175
177
*120
124
*120
124
05V
17912 181%
124
♦120
Last Sale 20
Do
*21%
22%
*21%
22%
♦75
76
*75
260
260
189
••
....
*
"53%
♦8
934 *_...
—
*k
-
«
M.
«
«
m
Mch
198V Mch
70
Deo
77
Mch
95
10
Feb
Feb 11
2534 Oct
6
Alch22
94
60V Sep
2
J'ne 12
100
Feb 11
87
103
63
Dec
97
Dec
58
Jan
77
53
3
9912 Oct
76V Jan 31
Sep 15
114
123
Jan 14
11-1V J'ly
33
J'ne27
common.
130% May
135
Sep '
120
Jan J
Mch
115
Feb
61
J'ly
103 V
Jan
80
Dec
98
Dec
x
130
65
J'ly 10
90V J'ly 23
19
Aug 29
Sep 23
85
Aug 14
101% Jan 13
Feb 21
69
4
87% Feb
155
J'nell
214% Jan
117
May 19
124*4 Feb 17
34
Feb 13
40V Aug
22
Sep 24
100
101
J'nell
Quaker Oats Co. 100
pref
100
195
J'ne12
Co.
94V Dec
99V Apr
x
6
2
140
x
67
Apr
Stone
Jan 17
1
215
27% Mch 24
•
112
14V Jan
Aujr,
97V Aug;
109% Apr !
397
Nov
110
Jan 1
234
Jan
Nor
1% Jan |
80V S«P i
58% Feb
"
9
2
Jan
49
Deo
May
IV Feb 10
63*4 Jan
2
Sep 17
111
100
xl03V Oct ,j
221V Nov
125% J'no
105V Jan
rl3534 May
108V Feb 15
206V J»a 10
6% J'ly
9-
,
94V Apr ]
*107V Apr
98% Nor
*
98*4 Jan
99*4 J'ne 24
100
_
107V Meh *6
280
Feb 15
60
J'nell
195V Feb 19
9
J'ly 22
122% Oct
30V J'ly
148V J'ne 10
5U J'ly 31
100
Wool worth. com
Jan
121V Jan
92
rights
Western
mmmmm
Dec
103
Jan 27
63
J'ne 10
mmmm
:!
'76% Aug
122% Oct
122V Feb 17
118
Jan 25
loi"
1
Sep!
161V Apr
130
21
——
Do
73V Sep
126%
2
J'ne 12
j
111% Feb
80V Sep •
10212 Mch
105V Dec
67
May
Jan 23
115
i
Oct
87
J'ly
Feb 13
21V Oct
Oct
110% Sep 12
Oct
Unit Box Bd & P Co.100
100
1,235 U S Steel com
55 Ward, Montg'y & Co pref
m
Mch
J'ne
.Do
,
J'n«
150
113
pref
100
Studebaker Corp com. 100
Do
pref
100
170 The
Aug'13
222
105
100
100
100
489 Union Carbide Co
53%
54%
109%
Jan
135% Jan
117
100
com
pref
&
J'n«
184
55
100
pref—.
442 Swift
189
July'13
54%
109% 100%
109% *109
Last Sale 10
Aug'13
934
Last Sale 91% May'13
'
mmmm
mmmmm
Oot'13
186
Last Sale 1%
54%
•
260
260
m m mm
191
Last Sale 6
1
•65%
109% *100
*
10
•
'
am rn
"55"
55
109
109% ioai4
—
"l
*.._
1
55
55
Dec
39
6
lfti2 Jan 31
,1 'ne30
Do
Dec'12
Last Sale 104%
189
190% 191
19134
Do"
Do
104% 104%
10434 105
*103% 105
*103% 105
138
3
71
100
preferred
Rumely
119% Sep'13
Sep'13
Last Sale 92
265
260
260
260
V
104% 105
104% 105
•103V 104%
192i2 192%
■
3
Jan
89V Jan
J'nelO
98
0,215 Gears-Roebuck com..100
172
Last Sale 22
76
108% Oct
100
prof
Apr
*2}
Feb
100
Caroon
Pub Serv of N o 111
70
.
Sep'13
170
176
Last Sale
76
Oct
Aug
100
55V Oct
8
1,203 People's Gas L&Coke.l00
Oct'13
Last Sale 45%
22%
105
124*
Oct'13
94%
04%
96%
170
•21V
-
*96
23
*75
105
123%
123% 124
Last Sale 81%
8U2
*96
Jan
45
2
55
65% May
25 Pacific Gas & EI Co—100
36%
36%
•80V
131
103V Jan
13934 Jan
100
pref
125 National
113
Last Sale 114
*37
May 1
Jan 13
135
Feb
.100
75 National Biscuit
120
*117
120
Last
38
121V
Sep
J'ly
Knickerbocker Ice pf-100
♦110
123%
*37
405
125V J'ne 10
Internal Harvester Col 00
Do
123
125
Feb
Mch
77
Aug'12
Feb
325
44
100
—
91
Feb 11
500
49
(B.F.) com.10C
liart Shaff & Marx pf 100
170 ilinois Brick
m'm
1
129% Jan 30
Jan 29
Goodrich
mmmm
mm'
48V Jan 31
55V Sep 16
221
Sep 11
155
Sep 29
100
pref—
164 Diamond Match-
July'13
*117
*120
*115
_
Last Sale 76%
77
*118
♦
mm,
5
J'ne
50
73V J'ne 10
40
J'ly 8
Oct'13
im'mm'm
-
61%
15
Oct 14
120
Do
425 Corn Prod Ref Co coml 00
98
2534
■
61%
8%
Sep IS
742 Commonw'th- Edison. 100
:
Feb'13
98
98
98
n
Oct
93
100
com
J'nell
33
_
Fisheries
Booth
Last Sale 107
P
*74~' "77
8%
Last Sale 77
-p
*98
>*
62
•»
•
9
130
16
Oct
1st pref
100
Oat & Chic Canal & D 100
mmmmm
52
13434 135%
13684
9
'
•*
—
72
136% 137
100
100
100
Telep & Teleg. 100
J'ne 10
400
_
310 Chic Pneumatic Tool. 100
Sep'13
52
52
52
-
190
76
76
;
81
c
100
Radiator.
prof
-
390 Amer
Oct'13
210
•531g
♦212
>*
2H2 J'ne 10
145 Amer Shipbuilding
Do
pre"—
'm
121
Last Sale 52
pref
DO
'■
mm -
33
33
Do
93 American
13034 Sep'13
rnmm'm
121% 122%
52
800
400
Last Sale 94
-—-100
100
1.590 American Can
91
90%
400
410
mmmA
121% 122%
120
*50
52
*60
135
93%
120"
12134 121%,
"
"83"
* 31%
31
31%
92%
91%
400
430
♦
34
♦
92
*
135
33%
37
92
93%
430
*
135
♦III.
3334
92
•
430
»....
31
"l5 "Nov
t!
Sep
3
■
Dividend Record
Chicago Banks and Trust Companies
Capital
(00* am fttedj
Bute..
200,0
Centr-i MJg Dish.
1912.
250,0
iod.
6
6
Q0
10
10
Q-J
6
Q-J
Oct.
An
27
'13.
Oct 7'12
ue.
10
10
6,554,3
118,9
393,9
16
16
Corp Exalt Nat-.
3.000,0
;
300,0
Drovers' National
75(h0
[iQgOOthO 12,126,7
National
Foreman
Eros
Halsted St
<
1,000,0
State-,
«200.0
,
HibernlanBhAssn
200,0
Lake
12.5
217.5
7,9
100,0
400,0
.
View State.
20l>,0
Lawndaln State-.
2,000,0
National City....
2,000.0
National
Produce
114.9
1101,2
250,0
North Ave State-
200,0
North Side St Sav
200J)
North West State
300.0
Otdon Ave State.
14,4
63.8
100
109.6
200,0
People'sStkYdsSt
600,0
Second Security..
200,0
Security
400,0
South Chicago S$v
200,0
South Side States
State Bank of Chic
200,0
[18,9
166,5
138,5
25,4
1,500,0
State Bank.04 Italy
200,0
Stock
250.0
Yarda Sav.
Union Bk of
Chip-,
•
600.0
W&ghingt'nPkM&t
100,0
1.000,0
5l,COO.O
Colonial Tr A- Sav
1600,0
460,5
COntAConaTrAS
3,000.0
2500
250,0
Franklin Tr A Sav
300,0
Greenehauaa
Sons
Tr A S
1.600,0
200,0
Harris Tr A Sav..
1,500,!0
an tee
Heme Bank A Tr.
Illinois Tr A Sav.
Kenwood Tr ASav
300,0
5,000,0 10,438,1
200,0
99.6
Lake V tewTr&S&v
*200,0
1.000,0
Liberty Tr A Sav.
250,0
200,0
292,7
»27,9
»»30,5
147,0
7,233,1
;
73,0
112,5
2,908,5
Market Tr A Sav.
Merc'ntlleTrASav
250,O
Merchants' L A Tr
3,000,0
Michigan Ave Tr.
Mld-Clty TrASav
200,0
Northern Tr Co..
1,600,0
50U.0
Nor-West Tr A S.
2000
People's Tr A Sav
3000
Sheridan Tr A 8av
2000
k New stock.
f
c
Due Feb.
I June 5.
23T
18, 6
Oct'IS,
IK 118
1H»
Oct. '13, 2
242
Ante Elec 1st M 6s
94, p 465.
July
4K»__..„1939
1928
Chicago City Ry 5s
134
Chleage Rye 5s..
Chic- Rya- 5s.
142
Chlo Rya 4>
136
138
Chic ltys 4»
190
290
Chio Rye celt
144
.169
238
260
,9eeie*
-
wiee "(T V
Chlo Ry Pr na M g
Chic RyAdl Ino 4s>,..fllW7 Mayl X
245
2K 918
309
8
Q-J
8
J-J
6
8
1S2
OJ
..
»Ate
1IM(
221
Oct.
Q-J
0
6
Oet.
S
QJ
7Ale
1960
J-..
.
,Ge» Met 6% 1st L »e«ee.l'/l^
I*t Hac 3-yr 6% g netea.1915
mmmmm
A-O t
if
-
A
kau
5*
m
08
-
Extceeiea g is
1940 J-J t-—
Mil Ft Ry A Lt let g 5s
1938 F-A U«3
de
ref A e*t 4K*--1»31 J-J J 94
—1989 J-J f—g
1942 M
-
97%
96
92%
92%
90
80
81
77%
84
93
03
Sep '13
72
75
Oct'13
" 100
96% Dec '12
10034
101%
45
58
40
Sale
101
23
105V
99% June'13
104V Sep'I?
94%
74
52
Sale
96
99
79
104l2
04V
8612
t 99
Cbic Gae LAC 1st 5#-1937 J-J 1101
1045 K-N t—
Censum Gas 1st 5s
1939 J
tHII
98%
Ry A
Lt
trust lieu e t 5a
M-N
365
Unlen Elec (Loep) 5a
U S Gypsum let K Se
293
West era Eieo Co 5a
1922 J-J
83
76%
81
95
86
89
j
96
100
;
Aorlf 12
86V Oct '13
10034 May'12
148
96
Aug' 13
9,634
Sale
101
101
100
100
Aug'13
101
100
Sep '13
he
1Q
100
97
•
103
!
90% 100>t'
99% 100%
92
92
91
91%
99%
91V
99V
90%
99%
100
1923 M- S
m«s t
93%
"*99% *10*2*]
97%!
93% 1
106%|
98% AprllT2
85
Aprll'12
-.1938 A-O
Nste—Accrued luterert
~99% *160%
Sep'13
Oct '13
1100% 102
added to all
May'12
•9% July'13
IIIII Iinii
99% 101
I
Chicago prloe
t Aug. t (deee ef business) far natiea&l basks uf Aug. 11 (epesing ef business) for State instltutloM.
t Nb
a Due Dec. 81.
% Dlvldesda sot puhttshed; stock all acquired by tha Cautisemtal A Commercial Natloual Bank,
i Capital luereased ta 81,000,000, the Oct. 1013 dlv. of 1K% being first dlv on new capital
V. 97 p 154,
Aug. 28 1913.
o Sept. 18 1013.
x Sales reported beginning April 18.
q Divs. are paid Q.-J., with extra payments Q.-F.1
• Extra
»
*87
78
1047, AprtiV2
99
1945 A-O
117
Sept. 19 1913.
75
Oct '13
c4W
323
this day.
99
*12
79%
1 99
-D 1
Trl-Clty
en
'
100
220
{ Sept. 1 1011.
99
115V Sapt '12
99%
99%
812
J-J
99% 102%'
99% 106%
102*4 108%
Sep* 13
NWGLA Coke Ce 6e__1928 Q -M
Pub Serv Co 1st ref g 6a. 1964
Sale
1 92
South Side Eier 4 Kt— -1924 J-J 1 01% Sale
Swift A <Je 1st g 5s
1914 J-J X 99% Sale
8
~99% 103%1
95V Sept '12
135
8
Oct
100
09
165
8
|
i
103% April'12
437
Ap 10*1
S
QJ
i
]
99% 101%
9934 April* 12
99
July'13
79
130
us.
101%
100
Mutual Fuel Gaa let 5s 1947
'16, 4
Oct.'lS,
IK
1 .V .92,p.1444
■Sep. 84*18,2
July '18,
4
V M, p. 1487
Oct. *13. IK
.
10O>4 July '11
121
Oct.
50%
9934
7934
430
QJ
lOglg
94%
'12
101
179
QJ
Sep '13
Jan
74
80V
Org. ® ept. 5 *12. V. 95, p. 691 118
Beg- h •s Jly I'll V. 94. p. 484 141
1«
'
93
100
_
107
102
'12.
.97%
93%
Sale
19*2 A -O
de
let it ref 5 5»... 1944 A-O X 03
Ner Sh Gae ef 111 1st 5s. 1907 7 - A,
Nerth West Ft 1st 4s
14U Nf- ft t....
185
y'10
i
98%
SHIC
Ner Shere Ft 1st g 5s
'13, IK 172
6
94
N
Peep Gas LAC 1st 8e_—1948 A - Ol
Refunding gold 5s
1947 M- U
Me
88
75
Ogieu Gas5s.
•s.
80
Oct'13
90
A X 70V
195
ec.
78%
92%
91
1923 J-J
490
Bo*, b
I
99%'161%
....
ISO
Org. D
91?h
105% ApNl'12
Metr W Side Ki let 4s.._1908 F
Merris A Ce 4K»
Nat rube 1st g 5*_
91
89%
90
City Ry A Light Ce
'
...iltiO SI-*
Lake St Ft—1st 5e
Hi§k |
91
100
78%
Sep'13
J100
485
'18. 4
[Oct. '13, IK
Oet.
.
1Mb -Vf- N
.
Low
99V
78%
96%
80
160% Sale
Cemasenw Flee ie...41944 M- S J101
.
No.
Sep'13
97
lalaad Steei 1st M g 6e..l'J23
Oct/18,
330
July '18,
150
*18, IK 145
#310
IK
QJ Oct '18,
Q-J Oct.'18. 1K<*17« I8»
8
1+klt
6
17S
2K
92
1&43 A- S
Cemmeaw-Kiiseu 5s
340
[Oct* 13.
49%
100
1323 J -D
Otoere «a» Ce ret G m..lf*2 J-J X
135
97
S*f!c
....
Dia Match Cea <teb tie.
Q-J
81
I>
A X 92
,.1913 F-A
4e.<rm7' J-J X.—
Chicage Teiepl*ene 5*
Q-M Sep.30 '16,4
M-V May* IS.
8
78%
-
6a
145
«
99%
97%
1927 r-A
'A" A-O I 92%
sectpe "B" J
Cudahy Pack let M Se.
10
for
82% AprilV2
96% May'12
1314 J-J
12
made
j
Rang*
'13
77
224
172
Feb
91
J-i—
Ohio Pueu Toet let 5s__«mi J-J { 89
173
91
9.1"
L...
1927 F-A
I Ctdcage Eicv Ry 5s
High
Ask Low
mm!
75
Chle Clty A Cea Iiys 5*w/U9J7 A-O" :
397
8
were
j
Year 1913
90%
i
Cat Gas A El ualf A re< 5» 1937 M-N
392
.A eg 18*1 2
mmmmm
116
134
'18. 8
V. 88, P-JE3 141
mmmm
-D 1
225
167
QJ Oct.
J
259
258
dlv.
June 4. t Deo. 31 1912. s Ex 24% accumulated dividend,
tc
V. 97, p; 1000, 574.
y Aug. 22 1913.
a Capital increased to
with.
Bid
Armour & Co
Q-J Oct.
6
Sold
Price
Am Tel A Tef coll 4s.*.to1929 J-J
859
'18, 8
215
8
Q-J Oct.'18,
IK 189
Q-J Oct.'18.
us
Eds
120
Q-J
6
IFecJtV
Range or
Last Sale
136
5
d Due Jan. 1.
III
225
300
'13, 3
'13,
2K 217
Friday
317
,4 Bid and asked prices; no sales
Oct
Oct. 17.
(1)
«
Cemjk
Q-J
est
6
6
15
Q-M Oct.
period
Inter¬
Oct. 17.
295
price Friday; latest price this week.
6-Due June,
Week ending
118
7
7
10
j
;
150
BONDS
CHICAGO STOCK
8
151.4
5000
Pullman Tr & Sav
6
10*4*1
8A2s
0K
165
136
10*2«
K*c20
8A2a
118
yo2,8 Beg- h umJbee 1 11
290
8
QJ
224.5
1*9
8
8
QJ Oct„
280,4
T8. 8
3
QJ Sept SO' 18,1%1142
51,0
250,0
Old Colony TtA S
J-J
10
10
8
8A2 a
1,631,3
110,0
• 107,8
273. 132
Oct.
13, IK
IK
Q-J VOct.'13,
6
0
Q>J k)ct. '16, IK
6
' Q-J toctik
5
Org.N or. 27 '12. V.M, P. 1944
10
8K
Q-J Oct'13.
9K
Beg. h u*Nov I'll V.M. p. 1864
.
,
Q-M Oct. '13, IK 161
145
J-J July 13,
3
QM Sep.30'13,2
Chicago Bond Record
265
(H)
V. 93, p.
7
94,6
LaSalleStTr&Sav
2OB.0
....
42,1
125
260
e mete
(1)
1,9670 Not pu bllsthed
1«
QJ •Ct. *18. 8KpK7
171.2
8K
Mene ta-M I>ee3fTi, 4
16
3.249.1
15.9 Beg- h us Apr 3*11 V.fl, p.828
16?
118.7 Beg. b us-Apr 8*18 ▼.94,p.1444 162
10
QJ Oct. '18, 8K
286,2
2K
148
155
«
J-J July '18, 8
152,0
450
12
12
QJ Oct. *18, 8
2,410,5
152
82,2 Beg- h •s.Apr 10'1 1.V.93.PA444 148
5,000,0
FtDearbornTrAS
ee e note
V.
6
1311,7
12.263.2
First Trust «Sr Sav
—
Q-I
2.115.9
379,5
600.0
400,0
410
138
Feb •12;
•
4,500,0
J
Ask,
286
259
2
1912
Aue '12.
10
23,2
Chicago City B&T
Chicago Sav B &T
Chicago Titled* Tr
Drevers T» A Sav
Octl'is,
n.
12
2.661.8
149,8 Beg. b
8
247,1
6
166.1
Central Tr Cootill
Gua-
% Bid.
18. 120
V. 95, p.
'12.
'
vm
10
'623,8
2tK>,0
Nat Bk of llapub.
2
Q-J
254
Q-M Sep.36*13.8
130
55.7 Beg- b ua.Aug 26'1 2 V 80, • 591
8
1217
8
Q-J Sept3GV3,2
1,504,9
6
6
Q-J Sept30'13 IK 187
750.8
1,250,0
Mech &TraAState
Q-J
25
ov
Orga
1,200,0
Woodlawn Tr A S
1525,7 Org. J uly 5
421,0
EXCHANGE
.*59.4
200.0
Lire Stk ExahNat
6
41.6 Beg. h
200,0
438
pu bllahed
1.235.0 Not
2.000,0
1,000,0
Ba nk
rriv ate
8
892.4
27,8 Org.N
2.000,0
Hyde Pack State-
Irving Park Nat.Kaspar Sta.ta.__-
iod.
144
Q-M Sep30'13, 4% 434
1IK Q-M Sep 30' 13, EV 330
12
Ft Dearborn Nai-
Loti Paid.
Per¬
180
*13.
17
12
233.3
545,9
15O.0
Q-J
Q-J
Standard Tr & Sav
West Side Tr<k Sav
110
5200,0
Union Trust Co__
Atk.
175
OK
57,8
200.0
Englewood StateFirst
FlrstNatJEneiew'd
% Bid.
Sep30'13,lVu> 220
Jan VS.
6
150
V.95, p.1683 106
V. 95. D. 044 139
Oct. '13,
3
284
407
Oct. >13, 4
Oct. '13, IK 215
Oct. '13, 2K 360
2H
Nene
an.
Cont A Com. Nat. 21.500,0 10.540.1
Drexel States
Southwest Tr "A S
Last Paid.
Per-
6
62,6
20,9 Org- J
031.0 Beg. b
1GU.0
Capital State,
In
«206,7
5200,0
w
Galumot National
In
1941.
<00 som itteet.)
American
In
1912.
j
Profits 1
Stockmen's Tr A 8
NAMK.
In
1011.
Stock. t Prafitt. T
Surp. vt
Sleek, t
Surp. A
Capitol
NAME.
Dividend Record
Incr^ la capital to *400,000 autherised Sept. 24. a cash dlv. of 75% to be declared In connection there¬
*300.000; V. 97.
p.
705.
-
.
-
BOSTON STOCK EXCHANGE—Stock Record.
VOT
°BR
STOCKS
Sales
PRICES
CENTUM
Oct. 15.
16
Oct.
Shares
17
Oct.
basis
Range for Previous
Year 1912
Since Jan. 1
100-share 'ots
..any-
of
EXCHANGE
Week
Friday
Thursday
On
..) BOSTON STOCK
of the
Wednesday
day
14.
Lowest
Railror.ds
Atch Top & Santa Fe.100
Highest
Lowest
Highest
„
92
93%
9914
9314
200
82%
186
62%
*185
6~2%"
62l4
*250
15
♦59
66
66
*
10
63
Oct'13
Last Sale 7
53
40
162
*162
104
104
*10312 10412
*208
164
*162
ioT"
120%
120
120
87%
101%
*86
*101
13
13
67
"§7"
23g
30
*166
150
*82
67
8512
2
2>A
17g
12
30
10
148U
81
Do
Rights
Northern N H
Old Colony
Rutland, pref
Onion Pacific
166
107
Mch
260
Jan
122
Feb
Sep 29
10U2 J'ne 20
J'ly
98*4 Sep 23
*115
Aug 8
82i2 J'ly 11
100
Apr 29
1234 J'ne 14
Dec
12% Jan
Aug
67
Jan
170
Jan
165
Feb
107% Oct
112
13
J'ly
272
Jau
8
119
Dec
128
Jan
2179
124
J'ne
88
Sep 20
83
Dec
110
Mcll 13
125
193g Feb
2
115
j'ne 25
130
158
J'ne21
176% Feb 11
25
Aug 28
3
17
*16ls
17l2
Feb 21
36
Mch25
100
139i2 J'ne 12
80's J'ne 10
162% Jan
90% Jan
100
127
Sep
150
J'ly
J'ly 15
100
50
70
85
Amer Agricul Chem__100
Do
pref
100
144 Amer Pneu Service._ 50
150
Do , pref
50
407 Amer Sugar Refin___100
285
Do
pref
100
41
pref.........
£
16
723g Dec
Dec
126
J'ne
Apr
91% Jan
1473S May
23% Jan
Feb
83
142% Apr
A Aug 12
100
50
Do
,
100
......
J'ne
260
_
..100
100
May
Apr
May
Feb 10
126
U4 J'ly 22
91
91
162
200
9
44
*4212
9H2
7
50
4
'5
9012
'3
4414
91
80
Jan
Feb
*42l2
44
11
Dec
7% Mch
45
Jan
21
'44
100% Jan
300
Dec
70
79
72
91%
Oct 16
Dec
Dec
Men
130
89
Sept'13
89
Feb 25
Apr
Mch
Jan
10
J'ne 28
89
71*
89
218
94
Oct 17
*70
71
89l2
5
40
65
Oct
Feb
290
67
pref.
Vermont & Mass
30 West End St
72"
Mayl4
Sep
57% J'ne
A35
Do
July'13
89i2
*70
100
J'n612
pref stamped. 100
Do
....
...
*25
Last Sale 127
*130
Vf
'89
100
205
N Y N H & Hartford. 100
61
3,623
24,619
June* 13
*166
23
Last Sale 86
82l2
Do
pref.
Connecticut River
Do
pref
Maine Central
20 Mass Electric Cos
V
13
67
85
♦ISO's 15038 *147l2 1477s *148
83
....
100
*1H2
*23
pref
Boston & Wore Elec C">s_
Do
pref
Chic June Ry & USY.100
A_l00
13
*166
25
25
Do
10
67
Dec
Nov
1037s Feb
101% Nov
211% Sep
7% Feb
20
Last Sale 115
~
166
7
86
86
2
50
250
Fitchburg pref
100
110 Ga Ry &Elec stmpd.100
120i2
13
21*
21S
^.100
68
I0214
*8514
*
89
27
Sept* 13
86
112
2
111%
10414
222%
13434
202
4
114% Jan
Jan
97
Jan
290
Jan
..100
*100i2 101
88
*8512
87
10034 10034 *10012 101
67
88
15
164
*120
120
60
53
*101
...
120
......
10312 103i2
Last Sale 200
101
101%
...
May'13
*42i2
4012
100
2
1013g Feb
Jan
215
Boston & Providence. 100
Oct'13
Last Sale 60
.
Elevated
& Lowell
& Maine
106% Jan
91% Oct 16
9534 J'ly
Apr 30
82i2 Oct 14
18i
May 5
190
Boston Suburban El Cos.
6H2
Oct'13
162
10312
61
lAist Sale 265
Last Sale 71s
10
♦421*
164
85
6H2
6H2
260
•7
260
16
85
pref
100
& Albany_._.100
Boston
251 Boston
35 Boston
397 Boston
60
*185
—-
Do
6
9Si2
200
84
84
♦186
192
915s
915g
*98
200
200
200
20014
84i2
8334
9112
99
9112
*9812
QQ
99
200
~128% Oc"t
143
Jan
cl74
J'ne
187
Jan
41
Jan
Dec
70
Jan
176% Sep
89% Sep
9378 Dec
152
..
Feb 27
no
Dec
80
81% Feb
Oct
Jan
96
Nov
Jan 11
54
Dec
99% Jan 2
4% Jan
3
,2334 Jan 11
118% Jan
3
117% Feb
1
98
164
Jan
88% Feb
103% Mch
Miscellaneous
2%
*212
17
3
.
17
2i2
17
109
109
108
115
17
11412 115
122
44
91%
12134 12234
108
108l2
114.12 115
12034 122%
3
106
107
11412 115
120
1213g
11,902
Last Sale 173« June'13
*80 "
80
8OI4
79U
62
*61
62
*95
97
*95
8
*8
10
*8
*1534
17
14%
10%
60
96
10
8*4
8%
1534
10
265
264
1534
17
*1534
*10
11
264
10%
265
264
141
13934 140l4
13912 140
101
*99
292
9278
92
92l2
9212
215
3%
215
*20
*20
~
*139
17
27
26%
*26
27
*.99
1
170
II4
169
50
170
27
4934
27l2
5478
5512
4934
27%
55
10534
10518 10534
152
152
16
26i2
2634
168
*.99
II4
16912
27
5334
Feb
8
3
Jan 16
Mexican Telephone.
N E Cotton Yarn
pref
10
_
17
Apr
6378 Apr
100
.100
,.100 zl36
N E Telephone
Pullman Co
100
Reece Button-Hole.^ 10
Swift &Co__;
100
245 Torrington
25
v
40
Do
pref..^
25
100 Union Copper L & M 25
1,238'United Fruit
..100
2,761 Un Shoe Mach Corp. 25
9
7
Do
170
547g
8,994
105i2
pref
Do
147
pref.
11334 Dec
114% Dec
137% Jan
22
Nov
79% Nov
149
Sep 15
Sep 25
Mcb
30
Mch
94% Mch
Nov
84
x90% J'ne
5
Aug
10% Aug
1034 Jail
272% Sep
105
300
155
Jan
189
Dec
103
Apr
107
Jan
95
Oct
75
May
Mch
9
Feb
20
Jan
17% May
Mcb
184
108
Mch
6
28% Jan 15
28% Jan 20,
93
Dec
214% Dec
2% Mch
98% Feb
Aug
4% J'ne
22J
90
Dec
105
Jan
90
Dec
107
Mcb
148% Oci
164
Mch
158
1334 Jan
98% Jan
27
May
Aug
1738 Apr
109% Sep
32
Jan
31
28
J an
6
2
Jan
.85
Jan
3 34
J'ne 24
182
Jan
'il74
46%
27%
58%
107%
Sep
Jan
Dec
Feb
Feb
208%
57%
2934
80%
110%
41% J'ne 10
2638 J'ne 24
50
J'ne 11
69
Jan
102% J'ne 10
100
......100
J'n«Nov
May
Aug
Feb
165% Jan
2
18
Sep 27
J'ne 12
s4 J'ne
25
U S Steel Corp.
291
26
Mch
5%
24%
133%
12334
Mch
Jan 11
160
149% Sep 5
14l2 Apr 15
26
14
105
zSS% J'iy
220
J'ne 18
101
Jan 13
63'4 Mch
Dec
Aug
93% Jan 22
95% Mch24
Sep 4
3% Feb 8
50
Apr 2
91% Jan 11
Apr 28
129
49%
27i2
105
15
J'ne16
87
125
II4
4834
6
311
16734 169
49U
4912
27U "27%
53i2
5478
105
10578
19% Aug 25
5
J'ne
J'ne 14
101
16lg
104l2 105
*26
26l2
*25%
26%
27
*.99
J'ne
14
Jan 23
86
Do
*16
*
9
257
Jan
12% Aug 22
209
,5
152
16
104i2 IO434
10
Jan 10
Jan
7
104
139
152
16i2
1612
104i2 10434
27
*26i2
10478
75
100
5
May26
30
138
Mav27
9234 J'ly 2f
59
J'ne 10
Sent'13
139
May 8
95
Sept'13
*20
*|
139
15034 15034
15034
30
Last Sale 67
74
3
Apr 30
83 7g Sep 23
21
1,071 MassachusettsGasCoslOO
112
Do
pref
.....100
31 Morgentbaler Lino___100
215" 2~16~
Last Sale
30
100
140% Jan
130
4
93
217
*65
137
92%
*92
♦215
3%
*3is
20
92%
92%
215
140
99i2
92ls 92%
SOU
_
McElwain(WH)lst pf 100
♦99
101
nel2
288% Jan 10
18634 Jan
2
1-39 i2
101
J
J'ne
119% Oct 14
1634 Feb 28
Do
pref
.100
62 Amoskeag Manufacturing
30
Do
pref.
41 Atl Gulf & W 1 8 SL.100
127
Da
Pref.
100
545 East Boston Land
10
61 Edison Elec Ilium
100
70S General Electric
100
60
96
....
105
110
300
7914
'
1034
1012
r265
269
78%
61
61
96
80
I614 J'ne 9
Amer Telep & Teleg.100
American Woolen
67
Sep
90i2 Oct 17
2i2 J'neii
10
174
111
Jan
5534 Feb
28% Feb
A
or
A
u
•
..j
Aug
Sep
SepOct
'
1*4
H2
280
U2
*280
22
281
21«4
2218
7078
*1%
3334
7H2
ll2
3334
72i2
19
1834
1%
34
434
*34
4%
3V8
3188
62%
19 I
5
.90
4%
s4
31%
62%
.
414!
32%'
.
62'
412
415
39
3878
39i2
39%
2%
11%
3834
39
212
12
314
7214
1134
„
38i2
38%
2]8
1HS
*3
71U
30
30
J 30
*29
16
16
16
16
30
30
*%
%
4
4
48%
48%
85
*83%
18
18%
4
85
18%
3% 3%
134
*1%
1%
8%
334
9
♦3%
8%
4
4
3%
3%
2
*2
7
2*4
7
7
22l2
22
22
H2
40%
1534
40
♦1%
1%
40
70
3812
.
*2
♦2912
334
47
*83l2
18
*37g
85
18
4
8i2
834
»2«
684
22
♦lis
40
3%
234
7
22
40
1%
*H4
1^4
*.70
.90
5%
5
58
68
18%
18%
187g
*33
1%
61*
34
2
*1%
»634
27%
.30
27*4
*.20
28
.30
7
2l2
24
2%
2%
15i2
*134
838
23i8
47l8
•76i2
1834
57
18U
♦33
♦US
♦6i2
27
.20
*""170
8I4
8%
Oct'13
*314
.
2
334
1534
15%
*134
2
8l2
2514
5
49
78
19
8%
s
2
8%
2412
23*8
*iJ6 1%
1
*%
478
478
4812 4812
*76
Jan
6
15% Dec
47% Jan
2
25% Feb
53
2
48% Dec
Jan 27
15% Jan
2
Jan
2
3% Oct
12% Jan
b'g Sep
J'ne10
18"
lt>% Feb
57% Feb
405
4
9
Jan
78% Sep 16
35% Aug 29
25
Jan
2
22
Hedley Gold..
10
25
25
277s.jan 10
% May 8
35
Helvetia Copper
Indiana Mining
Apr 28
3
57
18lg
S2lg
1
7
23
234
28
6%
"2234
Feb
33
Feb
/% Feb
35
Oct
67g Apr
9% J'ne
53.J Apr
6134 J'ne
83% Aug.
Sep
27% Apr
50% Nov
66% Apr
7% Mcb
16% Sep
16% Apr
7734 Nov
11% Oct
615
Oct
37
J'ne
18
May
30
Nov
.70
Dec
46
4612
2%
46
2
87g
51
51%
517g
1%
1J2
*114
2
403g
10
15
J'ne 10
25
55
J'ne 11
80
15% J'ne 10
22
46
Jan
1
*40l2
41%
Oct'13
a
155
—
...
...
Wyandott...
Ex-dlv. and rights,
3
% Aug 15
13% Jan 2
Sep 23
Aug 12
J'ne 10
t
Unstamped.
2
24
Feb
4
1
Dec
3
26
Jan
6
Jan
9
4
34
Jan
47
Jan
40
J'ne 10
60
Jan
2
.90
J'ne 10
2
Jan
2
4%Jan
2
25
#
40
Oct 10
.40
Jan
to
6
278 Sep 24
11% Jan 2
■
J'ne 12
2<i paid,
Jan
% Dec
Jan
50
25
Jan
Feb
3% Jan 28
43% Jan 2
May 15
*4 Sep 12
1
9
17
38
45% J'ly 7
1% May 6
7% May 6
;
Dec
40% Jan
c4% Feb
2
J'ne 10
50
25
25
43
Jan 18
Oct 16
10
Feb
72% Dec
16% Jan
„
J'ne 10
275
Dec
Dec
Jan
Mch
34
51%
Jan
Dec
.65
5
634
2234
2%
1%
25S
Jan
Jan
1
5
Dec
15
50
Utah Consolidated—_
Utah Copper Co..-.'..
Victoria
Winona
Wolverine
2
Jan
Dec
Jan
44
.35
3
J'ne-
J an
100
22
25
;
Copper...
7J
Dec
Jan
31
1% Jan
Apr
Apr
J'neJan
Apr
Sep
Apr
Jan
Feb 19
21
14%
9%
18%
3038
5%
56
J'ne 12
76
Jan
Hall paid.
Nov
Feb
49
28% Jan
.15
Superior
Superior & Boston Cop
Trinity
2
Jan
32% Oct 17
May
Apr
J'ne
Aug
May
107
21
959 US Smelt Ref& Min.
874
Do
pref
...
_
Jan
10
25
10
Utah-Apex Mining...
A Ex-rlghta.
34% Jan
234 Jan
3% Jan
83g Jan
6534
91%
37%
3%
3
5
Jan
Jan
23
Jan
.80
234
23%
1%
60%
18%
9% Mch29
6% J'ly 10
1,015 Tuolumne
20
2%
Jan
2034 Jan
2
Apr
4% Feb
1934 Jan
8lia J'ne 10
505 Shannon
245
J'ne 10
% J'ne 10
..
105
H2
65
9
85
10% Dec
Apr
% J'ne 6
Apr 30
4is4 J'ne 10
73% J'ly 12
165
2
Oct
2134 J'ne 10
May 17
9
2
2
J'ne 24
.99
2
112
403g
13
2
Last Sale .70
-b Ex-stock div.
5
*812
51i2
2
4
3
_
360
87g
51
40
290 Tamarack
2
51
.95
;
Quincy
Ray Consol Copper.
Mary's Min Land.
260 Santa Fe Gold & Cop.
330
Oct
25
28
46
9
2
11% Sep
40% Jan
2
2234 Dec
Jan
Jan
Jan
Jan
15% Jan
26% Jan
26%
5%
10%
5%
5% J'ne 10
Butte........
Lake.
23U
2is
414
1
20% J'ne 10
5
620
198
87% Jan 10
33% Jan
2
4% Sep 24
338 Feb 4
Copper 25
1,270 Pond Creek Coal
•
J'ne 10
25
512 Old Dominion Co
,
4
J'ly
6% J'ne 19
3% J'ne 4
3% Oct
9
100 South Utah M & 3
9
2
25
25
25
5
...
Nipissing Mines
Jan
59
2% Jan 14
1
Aug 14
Mayflower.25
Copper
5
Michigan
25
.....
2
16
1
25
25
.
Oct 17
79
710 Shattuck-Arizona
2
*83s
Consol.
34 Jan
17
Jan
44% J'ne 12
5
52
.20
*212
2734
_
40 St
27
3
1
;
Ojibway Mining
1,060 Old Colony
I8I4
'A l'A
6%
27
pref
Royale Copper.
10 North
33
2
Do
Coal...
70
57
18l2
27
Creek
30 Osceola
1834
47
,
2
J'ne 19
6,445 North
78
181s
.65
42*4
*4
l
2
555
4
J'ne 10
50 New Arcadian
105
,
3612
46l2
*%
Jan
Jan
Aug
45
Oct 17
142 Nevada Consolidated.
,.i
36l2
.
Jan
72% Jan
14
218 Mohawk
♦.60
%
25
;
160 Miami
1534
57
34
23
4U
985
41
*39l2
412
40
10
La Salle Copper
Mason Valley Mines.
50
.61
t pal(
2
4% Dec
2"i0 J'ly
61
75 Mass
36l2
2
Cop Min.
"""160
7i8
2214
.55
,
438 Oct 14
24% Feb
9% J'ne 10
3
Sep
5
20
"""425
2
7ig
*22
36l2
♦I7g
*40%
3
Feb
50% J'ne
92% Oct
30% J'ne 10
37% J'ne 10
2
Sep 10
u
_
Keweenaw Copper...
Lake Copper Co.
Oct* 13
.60
2
7
u% May
Feb
29
46
37%
46%
1*2
5% Sep 17
Dec
Dec
°
195 Kerr Lake..
.60
4*4
327S Feb 10
5
2"
60
25
650 Isle
4
36%
*4%
J'ne
11% Apr
J'ly
370
35
100
351 Island
.60
4%
-
U4 J'ly 14
18% J'ne 10
56% J'ne 11
10
90 Hancock Consolidated
37l2
29
*28%
.05
395
254 Greene-Cananea
2l2
27l2
414
28
May20
J'ne10
1634 J'ne 27
2% J'ne 6
25
Daly-West
130 Franklin
I8I4
4
~
24
23%
62
CopperRange Con Co 100
855 East Butte
1%
.90
68
40
,
18
-
Last Sale 334
*314
5%
35
263
..
85
*8384
■
Last Sale 1%
*.70
19
_
48
34
78
Sm_
24% Oct
2% Jan
42% Jan
8038 Sep 16
29% J'ne 11
Commercial.
Calumet & Hecla
130 Centennial- a-.
800 Chino Copper
10
48
1«4
49
:.
2,902
Oct'13
48%
6%
18%
Apr
.15
1,805 Granby Consolidated. 100
3
8%
2534
78
Dec
300
16,285 Butte & Sup Cop (Ltd)
Calumet & Arizona
16
3
8%
49
5
Jan
Bos&CorbCop&SilMg
3,175 Bu'te-Balaklava Cop
30
334
25%
1%
19%
Jan
330
50
30
8%
78
930 Am Zinc Lead &
72
29
Last Sale .45
25%
4934
71
6
J'ne 24
Amalgamated Copper 100
4,200 Arizona
3is
*15
Mayi:
tr834 J'ne 10
"
,15%
: 1%
2i2
1178
3ig
16%
8,817.
1
275
10
25
25
41
117g
30
25
25
.
13l2
3834
38%
3834
1178
3%
71%
Mining:
Adventure Con
74 Ahmeek...;
12,900 Alaska Gold
^(Aigouiaii Mining
60; Ailouez
180
412
38
2ig
3034
6334
*13
15%
1%
2
*405
13%
3914
13l2
71
49l2
280
21*g 22%
Last Sale H4
Oct'13
*33
33i2
33%
333.
7034
72 lg
70%
717g
18%
18%
18i2
18%
47g
434
478
6%
*.70
.90
*34
1
3i2
312
3%
3%
29i2
13
4i2
280
64
13
*2
H2
22
31%
13
34
290
2112
62
415
32
US
30
415
*3
*280
1*4
63
420
3%
•1%
Dec
2%Deo
1
Nov
9%
52%
1*4
3%
J'ly
Jan
Dec
Doc
65
Dec
8
•24%
6%
9%
3938
834
c634
13%
64
Sep
Apr
Deo
Oct
Apr
Jan
May
Oct
130% J'ne
29
Nov
9->
J'ne-,
24% Sep 1
Apr
478 May
177g Aug
34% Nov
1% Apr
4878 J'ly
478 Jan •
61
Apr'.
-«% Apr;
4"i« Mch
*50% Sep,
52% Sep
3**i« Feb20% Apr
07% Sep ■
67, Jan!
7% Mch
1334 Apr
67
17
Mob
-
'
Oct. 18
1103
Boston Bond Record
1913.]
■>
if
BOSTON STOCK EXCHANGE
Week Ending Oct. 17.
Friday
Range or
Since
Last Sale
Jan. 1.
Atk Low
Bid
A-O
Chem 1st 5s.._1028
Am Telep Ac Tel ^oll tr 4s..1929
t.
Convertible 4s
.......1936
y 20-vew conv 4 Ms
..—1033
/Am Writ Paper 1st sf 5s g..l919
(Am Zinc L Ac S deb 6s...—101 ->
lAtch Top Ac S Fe gen g ■ o.. 1995
Adjustment g 4s
-July 1905
1
J-J
J-J
(Bos Ac Corb 1st conv s f
Boston Elev 3
-yr g
Plain
\
J:5
...1918
f 4s
) B & S W a
..1922
t
NOTE.—Buyer pays
SHARE
101
I
Oct.
82
8984
Registered
83
10
,99
99
84%
85%
98% 1008*
79% 86i2
8414 Sep '13
J'ne'13
107
107
1108*
1138g Feb '11
J-J
M-N
84
88
91
J-D
J-D
93
Sale
93
May 12
93
92
A-O
J'ly'13
97
Aug'13
M-S
95
A-O
122
Feb'13
A-O
122
109% *-...
98
9412
F-A
A-O
A-O
~90" "9*038
Io"l%
101
97
93
101
101
11
9984 102
11314 125%
113U Oct '13
101
Apr '09
Ill's Oct 12
F-A
J-J
Savannah Elec 1st cons 5s__1952 J-J
Seattle Elec 1st g 5s
1930 F-A
Shannon-Ariz 1st Cs g
Terre Haute Elec g 5s_
1919 M-N
1929 J-J
Torrington 1st g 5s
1918 M-S
Union Pac RR Ac id gr g 4s_1947 J-J
1927 J-J
1923 J-J
20-year conv 4s
1925
U 8 Steel Co 10-60-yr 5s Aprl963
West End Street Ry 4s—.1915
Gold 4 Ms
1914
Gold debenture 4s
1916
Gold 4s
1917
Western Teleph Ac Tel 5s...1932
Wisconsin Cent 1st gen 4s
1949
122"" 122"
Sale 107
107
J-J
M-N
F-A
M-S
M-N
F-A
J-J
J-J
32
109
106% 1111*
88
88
70U Dec '10
10218 103 J'ly'13
90
89
Aug'13
97
Apr'07
IOO84 Mch'13
953s J'ly *13
90
J'ly *13
951a
9512
9512
9412
9412
92i2
10038 Oct '13
97
J'ly '13
9934 Oct *13
97is Feb '13
98ij Nov '11
73
....
100
9784 Sale
•14"
"14% "l4%
953,
Week
68
108
109
109
17
*13
15
100
57
15
*55%
66*4
56*4
*
"25%
25%
18%
Bonds
(For
Stocks
97
"25% "25%
"25%
25%
______
17
"26%
25%
99«4
"97%
13
97
99U
97%
100%
97%
A
*
Range for
Highest
Lowest
Highest
Lowest
below)
Previous
Year (1912)
Inactive
and
see
2~5% """811
■
101
J'ne 10
120
Jan 16
96
Jan
117
-May
.100
101
J'nel2
101
Jan
116
Apr
100
14
J'ne 10
12084 Jan 31
23
Apr 4
Con Gas El L & Pow.100
Do
30
pref
1
•16%
♦16*4
♦17
;
114
mmmm
-mmmm»
180
♦107
110%
'
....
95%
987, IOIS4
98
Jan. 1
Range since
Shares
108
0614
93
935s Feb '12
ACTIVE STOCKS
Sales
Oct 17
108
90
92
II Flat prices.
* No price Friday; latest bid and asked.
of the
Friday
»_
95%
90
Exchanges—Stock Record, Daily, Weekly, Yearly
16
♦
17
♦56
58%
•58
110
90
10084 100%
----
9734
103%
90
85
Baltimore
*
f
9214 Mch 12
Jan '11
1
r
(
75
67
Oct '13
75
J-J
J-J
J-J
00
Apr 13
102
lODa
96
991f
93%
90
90
101
99
■
80
101%
"94 " "97".
96
94l2 Oct '13
Aug'13
97
J-J
1923 J-D
United Fruit gen s f 4MsDebenture 4 Ms—*
Thursday
109
"96"
95%
J-J
78
J'ne 08
115
J-J
,
95
97
97
99
92
1077,113 '
763, 768f
001a 90ls
Aug'13
purchase prloe for all Boston bonds.
Oct
...
981a
A-O
____
CENTUM PRICES
15
78
A-O
M-S
92
13
'13
'13
'13
'13
88
Mch '12
Oct
Feb
103
Oct '12
Wednesday
M-S
A-O
F-A
"07 ~ ~99%
M-N
14
....
961*
957,
Apr'08
107% Sep
763aJan
90i* Feb
80
Sep
92
108
1922
"92"" "92
80% Sep '12
76
A-O
117
91
A-O
9934
931s
94is
1932
1919
"95"" "95"
10014 Aug'i:
M-N
93%
093s
F-A
98
921*
97% Sep '11
95
Mch'13
"92" "95""
A-O
9412
High
Low
9988 Apr '13
9484 Oct '13
9414
9414
99
A-O
M-N
No
High
Oreg Sh Line 1st g 6s
Pond Creek Coal 1st 6s
98
99
98la
§ -A
5s.1925
la Falls & Sioux O 1st 7s...1917
Kan O Clin & Spr 1st 5s—.1925
Kan O Ft Scott Ac Mem 6s_.1928
K O Ft S & M Ry ref 4s gu_1936
Kan O M & B gen 4s
—.1934
Assented income 5s
1934
Kan O Ac M Ry Ac Br 1st Ss.1929
Marq Hough & Ont 1st 6s_.1925
Mass Gas 4Mb
1929
Deben 4 Ms
Dec 1931
Mich Telephone 1st 5s
1917
New Eng Cotton Yarn 5s_.1929
New Eng Telepb 5s
...1915
5s
-.1932
New River (The) conv 5s—1934
N YNH&Hcon deb3Ms-1956
Conv deb 6s
...—..1948
Old Colony gold 4s
1924
Jan. 1J
Last Sale
Ask Low
94
-J
1921
4s
Houston Elec 1st s f gen
100
J-J
Nft,
Puget Sd Elec Ry 1st 5s
Repub Valley 1st s f 6s
95
100
A-O
Tuesday
Oct.
Since
—
104%104%
May'13
J'ly '13
98t2Mch'12
98% Dec '12
83
J'ly '13
PRICES—NOT PER
Oct. 13
11
102
98
accrued Interest In addition to the
Monday
t Saturday
i»i
J'ne'13
100
J-J
Rang*
-
Feb'12
Philadelphia and Baltimore Stock
t
85
50
Oct *07
J-J
1949
Yds 5s—1915
)
Coll trust refunding g 4s. 1940
Oh Milw Ac 8t P Dub D 6S..1920
Ch M Ac St P Wis V dlv 6S..1920
Ch Ac No Mich 1st gu 5s...1931
Chic Ac W Mich gen 5s.
1021
Concord Ac Mont cons 4s
1920
Copper Range 1st 5s
—.1949
Cudahy Pack (The) lstg 5 -1924
Current River 1st 5s.
1926
<Det Gr Rap & W 1st 4s..
1946
(Dominion Coal 1st s f 6s—1040
(Fitchburg 4s
1927
Fremt Elk & Mo V 1st 6s._1933
t
Unstamped 1st 6s
1933
Illinois Dlv 3 Ms
"59" "67
23
J'ne'13
M-8
Chic Jet Ry Ac Stk
97
97
83
M-N
4s......1927
1921
98
"84% "85%
1103
83%
Q-F
A-O
1919 A-O
F-A
k, Iowa Dlv 1st 4s
104
93
i04i4 jTne"l3
M-N
Cedar Rap Ac Mo Riv 1st 7s 1916
(Cent Vermt lste 4s___May 1920
OB & Q Iowa Dlv 1st 6s...1919
■
101
1951 J-D
Butte El Ac Pow 1st 5s
82%
82%
May'13
95
Week's
Range or
General Motors 1st 5-yr 6s_1915 A-O
J-J
Gt Nor O B & Q coll tr 4s..1921
95is Feb '12
IOOI4 Mch'09
104% Oct '08
J-J
:1944
89»4
104
65
50
J-J
|Bur Ac Mo Riv cons 6s
V, Denver Exten 4s
V Nebraska Exten
Sale
64
.—.1942
4s
2
64
M-N
...1916
(Boston Ac Lovrell 4s..
Boston & Maine 4 Ms—
8278
97
J'ly'13
11058 Mch'll
M-N
6s..1923
4S.....1935
97i2
"59
876s Nov'12
8414 Aug'13
4s-.1955
10-year conv 5s
—.1917
Atl Gui & W I SS Lines 5S.1959 J-J
50-year conv
86
Sep '13
94% Oct *13
Nov
M-N
J-D
J-D
Price
Friday
Oct. 17
Bid
102l2106
95% 10414
104
A-O
July 1995
Stamped
"'8
82%
8273 Sale
M-N
Hiow
102
99
95%
S^ie
96
Low
No.
High
99»4 Apr '13
87»4
88
87*4 Sale
103% Mch'13
M-S
.
BONDS
BOSTON STOCK EXCHANGE
Week Ending Oct. 17.
Range
Oct. 17
-"ft.
Ion Agricul
I
Week's
Price
BONDS
Houston Oil tf ctfs
Do
pref tr ctfs. 100
Northern Central
50
Seaboard Air Line
100
Do
pref
100
United Ry & Electric. 50
Jan
9
Apr
123
2
121
Dec
18
Dec
25% Nov
72% J'ly
130
Apr
49% Sep 23
45% Mch
27% May
5984 J'ne
27% Apr
18% Jan
26% Sep
Jan 30
21
14% J'ne 11
41% J'ly 19
23
Jan
68
56% J'ly 28
114
J'ly 16
814 Jan
53 34 J an
6
3
American
♦38%
39%
"38%
38%
10
48*4
49%
48%
48*4
3,413
46
45*4
46
35%
35
35
39%
49*4
•38%
39%
•38%
48%
49
48%
45%
46%
34%
737,
36
45%
35%
74%
12
12
•11%
12
74%
23%
12
85%
23%
23%
23
85
•
85
84%
84%
75%
74%
75%
84%
743j
♦23
46
590
35
1,920
Leh C & Nav tr ctfs..
50
81
Lehigh Valley
Lehigh Valley Transit
Do
pref
Pennsylvania RR
Philadel Co (Pittsb)i.
Philadelphia Elects
50
50
50
50
17
17«g
1,030
31%
31%
200
55
553s
3,138
41
40
41*4
674
22%
22%
223s
2,384
4,657
6,030
1934
20
20
80
80%
80% 80%
20
55% 55%
22%
1934
79%
20
19«4
20%
80%
79%
79%
434
4*4
4%
4%
447,
45%
45
45%
434
45%
434
453s
45%
45%
84%
85
83
84
83%
83%
84
84
i
434
1)
10
100
Milling.._
Amer Rys pref
Cambria Iron
Central Coal & Coke
4
Preferred
50
100
....100
Consol Trac of N J
Harwood
Electric..
1
-
~T%
84%
mmmm
100
60
Huntington Ac B T
50
Preferred
Insurance Co of N A__
10
Inter Sm Pow Ac Chem
50
Kentucky Securities..100
Keystone Telep, pref. 60
Keystone Watch Case 100
Lit Brothers
10
Little
Schuylkill
50
Minohill & Schuyl H_. 50
Nat Gas Eloc Lt Ac P..100
Preferred
100
1998.Q-F
Ch Ok & G gen 5s 1919 J-J
Con Trac of N J 1st 5s '33
"21% "22"" Del Co Rys tr ctfs 4s'49 J-J
Edison Elec 5s 1946..A-0
Elec Ac Peoples Tr tr ctfs.
"48% "49% Fr Tac & H 1st 5s *40. J-J
Gen Asphalt 5s 1916.M-S
Harw Elec 1st Qs 1042 M-S
"1634
Interstate 4s 1943
F-A
Keystone Tel 5s 1935.-J-J
Lake Sup Corp iric 5s'24 O
"36"
80
Lehigh Nav 4Mb '14.Q-J
Pennsylvania Salt
Pennsylvania Steel
85
100%
"35%
GenM4Msgl924_Q-F
1933.J-J
1948.J-D
Leh V O 1st 5s g
105%
Consol
42
"81" "81%
1
1
1
•t.
1
"7%
1
82%
"83%
"96"%
1 1 1 1 ti
«
•
1
1
1
1
1
•
•
■L-
•
Bid
11
•
m^mm
■
1
1
1
'York Railway
Preferred
1
1
•
•
1
J-D
1923
6s
9034
91%
"99"
106"
1948.J-D
N Y Ph & No 1st 4s'39 J-J
Income 4s 1939
M-N
Pa & N Y Can 5s '39.A-O
Penn Steel 1st 5s '17.M-N
People's Tr tr ctfs 4s.1943
P Co lst&coil tr 5s'49M-S
1
9%
34
94
"57"
"if"
M-N
Phil Elec gold tr ctfs_A-0
Trust ctfs 4s 1949..J-J
P & E gen
M 5s g '20. A-O
*«s
35
%
—
1 Q ** O
Ex-dividend.
_
_
A-O
|| $15 paid,
60
Dec
4984 Dec
II 16% Jan22% May
74% Jau
Dec
6
4984 Feb
86% Jan
73% Dec
13
Sep
9278 Jan ;
16% Sep
32% Deo
63% Apr
56% Feb
24s4 Sep
Sep !
29
89% Apr
8% Apr
63
Sep
923, Aug
Ask !
93%
Ry 1st 5s '19A-O
Coal & I Ry 1st 5s'20 F-A
98
100
J-D
71»4
91%
Knoxv Trac 1st 5s *28 A-O
100
—
104%
lst,5s '31 A-O
Memphis St 1st 5s '45.J-J
•
«a'<
-
93%
87%
87
87
85
99%
102%
102%
-.-•a
m
•
m,
m
mmmm
105
103
41%
•»
~
.
-
43%
81%
100%
93" MaconRy&Lt 1st 5s'53J-J
Md Elec Ry
mm
m
-
93
A-O
'35 J-J
Houston Oil div ctfs..F-A
•
35% Sep i
100
Sep (
Bid
BALTIMORE
72% Georgia P 1st 6s 1922..J-J
Ga So & Fia 1st 5s '45.J-J
G-B-S Brew 3-4s *51.M-S
72
72
mmmm.
"97"
95
NptN & O P 1st 5s'38M-N
95
98
N Ac A Terml 5s '29..M-S
92%
100
...100
100
25
Nor&Port Tr 1st 5s'36 J-D
91
Norf Ry Ac L 5s '49..M-N
North Cent 4Ms 1925 A-O
Monon V Trac 5s '42 J-D
preferred..
preferred
Brewing......100
Bonds
Prices are all "and
interest"
Bait City 3 Ms 1930...J-J
4s 1954-1955...Various
5s 1916
M-N
80
3
97%
"98%
9134
Bait Trac 1st 5s '29.M-N
98U
105%
J-J
105%
•
No Bait Div 5s 1942J-D
104
103
86%
101% 102
81
8134
Cent Ry cons 5s '32.M-N
Ext & Imp 5s 1932 M-S
Ghas City Ry 1st 5s'2 J> J-J
Ohas Ry G & El 5s '09MS
"98
City Ac Sub 1st 5s 1922 J-D
Oity&Sub (Was) 1st 5s '48
J-J
102
•
•
«1
102
South Bound 1st 6s_.A-0
1
1
•
<m*
8234
mmmm
89%
9034
82%
83
1949...J-D
1936..J-D
86
100
4s
Funding
5s
6s '16.M-S
100
3-4-68 1921 M-S
102
103"
5th series 5s 1926..M-S
Va (State) 3s new '32.J-J
Fund debt 2-3s 1991 J-J
West H C con Gs 1914.J-J
100%
Wil Ac Weld 5s 1335...J-J
IfUl.
1
100
Va Mid 3d
4th
103
i03*
9234
,
J
63
Conv notes 5s 1914 J-J
"95
102%
104
Income
91
100
100
Sav Fla & West 5s '34 A-O
Seab Air L 4s 1950
A-O
4Ms'29M-N
Un Ry Ac El 1st 4s '49 M-S
103"
ft $17M paid.
88
J-J
U El L&P 1st
100
B
87%
Series A 5s 1926..
Seab Ac Roan 5s 1926
101
deb 4s_M-N
conv
,
97
Poto Val 1st 5s 1941...J-J
95
67
---
100
Pitt Un Trac 5s 1997..J-J
90
rnmmm'i
mmmm
Series B 5s 1926
1%
L(Ct)ctfs 5s J-D
5-20-yr 4s 1925
J-J
S P & C 1st 4 Ms *53 F-A
99%
Jan
100% Consol Coal 5s 1950._J-D
Fair & CI Tr 1st 5s '38 A-O
Ga & Ala 1st con 5s *45 J-J
Ga Car&N 1st 5s g *29 J-J
1937.J;-D
Atl Coast
"87"
23
583s Aug
39% Dec
170
Atl O'st
100
877g Mch
78% Feb
8% Jan
Gen 4Ms 1954
Cons G E & P 4Ms
Anacostia & Potom 5s A-O
110
Apr
Feb
55% Oct
12% J'ly
~66%
2d
103
6
27
Consol Gas 5s 1939
97%
Georgia Sou Ac Fla..
93
Sep
11% J'ly
5234 Jan
18
Apr
5934 Apr
Mt Ver Cot Duck 1st 5s__
G-B-S
"92
,47
1
243
111%
M-N
'35 J-D
1st series A 4s 1935.M-S
1st series B 5s 1935 M-S
MarketStEl 1st 4s '55M-N
NatLH&P serB 5s '19 J-J
3
40% Oct
41% Mch
BALTIMORE
Inactive Stocks
Atlan Coast L (Conn) .100
Canton Co
100
Consolidation Coal...100
1st
Gen cons 4s 2003
91% Feb
Jan
Col Ac Grnv 1st 6s 1916 J-J
98
114
'19.J-J
ctfs 4s '49 .J-J
United Rys Invlst coll tr
s f 5s 1926
M-N
Welsbach s f 5s 1930..J-D
Wil-B G&E con 5s '55.J-J
-
J'ne
7
Coal & O
Stan'd Gas & El 6s'26 J-D
York Rys 1st 5s
58
72
—J-D
Annuity 6s
Con & coll tr 5s *51
....
and asked; no sales on this day.
Ask
Bid
101
"67%
New Con Gas 5s
»
I-
447, Oct 14
Un Rys tr
Leh V Tran con 4s
.(Wilkes Gas & Elec.,
6% Jan 13
51% Jan
9
8084 J'ne 10
'21..J-J
Read Trac 1st 6s '33..J-J
Leh V ext 4s 1st
67
41
|West Jersey Ac Sea Sh.
(Westmoreland Coal..
85% Sep 23
J'ly 22
4
50
1947.A-0
1941 Q-F
U Trac Ind gen 5s
100
c'
"39% "40%
Preferred
75% J'ne 10
60
PHILADELPHIA
8
Jan
2434 Feb 14
28% Jan
3
Stand Stl Wks lst5s'28 J-J
6s
50
1984 Oct 14
20% J'ne 10
L con 5s '54 J-J
Spanish-Am Ir 6s '27
J-J
Consol 4 Ms 1923— J-D
Tonopah Belmont Dev
53% J'ne 4
37
J'ne 10
----
105
5
10
S'tl
'
North Pennsylvania..
50
Pennsy receipts $30 paid
-
4
29% J'ne 12
Roch Ry &
Rys 5s 1917
.A-O
Atl O Gas 1st s f 5s '60 J-J
Berg&EBrew lst6s'21 J-J
Bethleh
•
'•
....
P W & B col tr 4s
Am
mlmmm
Union Traction
United Gas Impt
Ex Imp M 4s
Terminal 5s g
mm
mmmm
Mining
50
25
56
50
1
J'ne 10
Ph & Read 2d 5s 1933 A-O
10012 101%
100
Reading
Tonopah
41*
Bonds
Prices are all "and
interest"
Inactive Stocks
Amer Gas warrants (w
American
2,753
1,232
Bid
PHILADELPHIA
Atk
Bid
PHILADELPHIA
4%
255
-
Phila R T vot tr ctfs..
13% May 10
31% Jan 9
93% Jan
3
84M»Jan
3
237, Mch 28
37% Mch 28
61% Jan 9
934 J'ne 10
J'ne 4
22
15»4 Jan
May 13
78
70% J'ne 10
1734
•40
4
118
31*4
55% 55%
40%
*39%
22%
223,
427, Feb
7038 J'ne 10
960
17
22%
J'ne 10
33
74S4
•31
40
9
9
9
84%
18
5534
11% J'ly 29
42% J'ne 10
53% Jan
12% Jan
54% Jan
pref
100
Keystone Telephone. 50
Lake Superior Corp__100
-
6
z49% Feb 24
177
33
22%
Do
6
200
*31
39
Elec Storage Battery. 100
Gen Asphalt
100
Feb
2
JnelO
Feb
12
18%
55%
J'ne 11
41
74%
33
18
•32
37
50
50
50
Electric Co of America 10
530
•75%
17«4
76%
2
Railways._
Cambria Steel
23
♦73%
♦11%
74%
•73%
♦11%
23
23%
85%
75%
74%
4534
•34%
Cement...
American
|
ni
•
Philadelphia
ser
ser
irmmrn
•
mm*
mmmm
mmmm
100"
1104
CHRONICLE
THE
Volume of Business at Stock Exchanges
[Voa.- xcrni.
Telcgrapto and Telephone
e
Amer
100
110
American
Surety.,
00
72
American
Thread
40
60
Amer
100
,
Franklin
e
Railroad,
ending
Oct.
:
<&c..
17 1913.
Saturday
Shares.
214,666
$18,119,750
471,899
314,694
30,597,775
$46,000
...
| Wednesday
Thursday
Preferred
67
118
ePacTelep A Teleg pref.100
Southern A Atlantic
.25
'
„
1,777,000
1,731,000
1,814,500
Total
$7,602,500'
1,724,971 $150,164,975
.....
Sales at
Note
32,816,400
York
Week ending Oct. 17.
,
1913.
1913.
Stocks—No. shares...
1,724,971
12,606,291
Par value
$150,164,975 $236,510,350
Bank shares, par.....
$800
$38,900
Short-Term Notes
.........
*
Bonds.
>.
...
Government bonds...
State
$11,000
216,000
bonds
RR. and misc. bonds..
Total
DAILY
it.
,
$7,919,600
\
t
-vV^'r
k":-.
22,014,000
552,036,000
$402,833,020
$8,887,600
TRANSACTIONS AT THE
■.. v
23,497,700
377,680,600
310,000
8,576,500
7,692,500
bonds..
$1,654,720 L"'; $1,092,000
$1,000
BOSTON AND
EXCHANGES.
$575,742,000
Xx
,
J-J
Week ending
..
-
.
t
L-
Listed
Int A Gt Nor 5s 1914..F-A
Inter Harvester 5s *15. F-A
Mo Kan A Tex 5a 1915.M-N
Missouri Pacific 6s 1914. J-D
Bond
Listed
Unlisted
Bond
Shares.
Shares.
Saturday..
i^vlonday
.....
7,899
4>*a 1914
HOLI DAY
'
Tuesday
15,487
9,334
14,166
10,006
67,406
Wednesday
Thursday
.....
Friday
.
.....
15,745
$21,500
27,600
7,186
8,586
6,395
11,393
8.236
32,697
34,010
11,584
6,418
8,509
55,528
$187,800
9,780
com
are
now
B
Street Railways
Bid
Ask
Street Railways—(Con )
United Lt A Rys com
100
1st preferred
Neto
York City
2d
Bleeck St & Ful Fy stk-..100
16
20
1st mtge 4s 1950
J-J
64
66
100
140
160
> 2d mtge 5a 1914...
102
104
Christopher A 10th St stklOO
Dry Dock E B & Batt—
115
j
J-D
220
81%
Anglo-American
125
Electric, Gac & Power Cos
33
B
310
101
J-J
Gas 5s 1927
117% 119
Kings Co El L A P Co.100
New Amsterdam Gas—
1st consol 5s
100%
■
1948.
J-J
•
99% 100*4
N Y A E R Gas 1st 5a '44 J-J
240
103
16.0
45
55
N Y A Richmond Gas... 100
30
50
North'n Un lat 5s 1927.M-N
99
101
J-J
Preferred
3
Standard G L 1st 6s '30 M-N
89*2 100
90
98
;Tarry WP & M 5s '28—M-S / 75
80
|28 & 29th Sts 5s '96 ctfs A-0
6
220
100
103
Westchester 1st 5s '43.J-J
88
92
Yonkers St RR 5s 1946-A-O
90
Preferred
260
/
79
100
104
50
*75
77
60
♦47%
Other Cities.
Am Gas A Elec com—.
14
■Twenty-third St stock..100
Union Ry 1st 6s 1942..F-A
72
100
....
85
74
Stand Oil of N J (old) ..100 1155
12
12%
Stand Oil of N J
JJ
73
75
95
1st 5s
1927
77
82
98
100
Consumers Power (Minn)—
101
103
1st A ref 5s '29 opt '14M-N
Denver G A El 5a 1949.M-N
5s 1938
95
101
Elizabeth Gas Lt Co
102
*75
77
25
75*2
cHavana Elec Ry L & P 100
e
e
Preferred
...100
Louisv St 5s 1930
eNeW Orl
J-J
80
1
70
73
101
100
230
A-O
1921...
100
mm
mm
mm
mm
m,
J C Hob & Pat 4s *49
M-N
76
<
So J Gas El A Trac...100
123
mm
127
Gu g 5s 1953
M-S
No Hud Co Ry Bs 1914 J-J
4
"?***%
Vf
Ka
lOOO
1
Con M 5s 1928
Ext
5s
•
J-J
1924
98*2
101
M-N
95
1914 opt
A-O
•'Republic Ry A Light...100
Preferred
Tennessee Ry LAP
Preferred
100
m.
m.
mm
100%
20
74
com .100
10
92
Johnson Tin FoilAMetal 100
122
*
Per share,
'a
s
70%
6
100
94
ttfany., will bs found
y
Ex-rights,
z
on a preceding page,
100
.....
102% 104
100
140
150
83
89
58
68
*24%
25
25*2
1Q9*2 110*4
Preferred—See Chic Stk
Ex
Standard Coupler oom._100
Preferred
.....100
Bros pref
100
35
■
Sulzberger A Sous Co pf.100
91
93
90
100
e
92
100
Coal... 100
Texas Pacific Land Tr.100
180
TonopahMln(Nev)-ScePblla
200
Trenton Potteries com.. 100
96
Reynolds (R J) Tobacco. 100
230
245
Tobacco Products
100
120
37%
85
St Joseph Gas 5s 1937...J-J
90
Gas A EI
"95"
(Del) 60
*6
8
50
*31
100
87*2
45
100
95
89%
88*4
Stk
E
3*2
100
Directory
.—..100
United Copper...——.100
x
.
list
6
45
7
new.
Trow
99
Preferred
Preferred
e
100
U S
e*i
02%
101
100
....
U S
H
3
.—.100
United Dry Goods
e Preferred
.....100
111
115
225
300
100
110
100
140
160
200
{
155
165
[
104% 106 ■'
47% 50)
9
11)
Preferred
120
190
100
100
Casualty
Envelope
..100
Weyman-Bruton Co—100
U S Express..
U S Finishing
Preferred
"80"
Preferred
89
42
United Cigar Stores com.100
B
79
100
160
United Cigar Mfrs com 100
e
32
85
com..
Preferred
e
76%
Texas & Pacific
230
83
40
111
74*2|
115
■
180
36*2
300
180
140
215
85
list
x
105
....
Stern
Tob.100
100
E
lis t.
297
100
290
270
109
e
Singer Mfg Co..,
Porto-Rican-Amer
com
Preferred
United Gas A Elec Corp.100
Preferred
100
37%
74%
38%
75*2
Young (J S) Co
100
33
36
Western Power com.—100
15
16
IndustrialAMiscellaaeouB
1st g 5s 1919
J-J
90
49
50*2
B
Con
J-J
95\
73?
89
90
127
100
122
Col tr g 4s 1947
J-D / 74*2 75l2
110
Alliance Realty.....—100
100
100
1st A ref g 5s 1941 op.J-D
e
B AN Y 1st6s 1911
—i.lOO
100
Preferred
Ferry Companies
Adams Express
50
*46
48
50
com
Preferred
*50*2
62
«US
g
5s
—
1929
Indus Alcohol
J-J
102
15
American
Book.....—100
Brass.—..—100
160
12
135
140
U S Tit Gu & Indem
45
65
American Chicle com—100
208
210
e
98
..—100
97
100
e
Express.—100
Am Graphophone com—100
Preferred
—100
110
119
Westchester
Hardware.—100
120
M-N
95
100
*._J-D
25
b Basis.
* Listed
Includes ail
_M-N
on
new stock
50
American
Preferred
101
J-J
10th A 23d Sts Ferry
1st mtge 5s 1919.
105
B
"30"
American
66
American
24
28
Amer Malting 8s
99
101
,
Stock Exchange but
lactive.
usually lnaotive.
dividends and subscriptions,
h Ex-300 % stock dividend, /r
1914-J-D
Amer Press Assoc'n
-
b
100
50
80
126
99*4 100*4
30
Col
170
,
...
35
100
B Preferred
....100
U S Steel Corporation—
Col s 1 Apr 5s 1951 op 1911
N Y A E R Ferry stock..100
1st 5s 1922
M-N
Union Ferry stock......100
And accrued dividend,
Ex-dlv.
Preferred
Preferred
MacAndrews A Forbes.. 100
lat 5a 1920
subsidiaries,
J
100
Helme (Geo W) com.. 100
e
187
93
Hob Fy 1st 6s 1946
"
1
Conley Foil
fl
183
Sdars, RoebuckACo—SeeN Y Stk
*25%
119
17% N Y A N J 6s 1940
......100
J-D
98%
108
101
N Y A Hob 6s May '46.. J-D
mm-mmmmrn-
18
Trent P A H 5s 1943
100
m
Western States Gas A El—
—II
72
1 eToledo Rys A Light
94
mm mm mm
Tobac_£l
New stock
Amer Bank Note
100
<
British-American
*89
Preferred
99%
110
2d Cs
69
Preferred
100
Amer Machine A Fdy—100
v.
99
Safety Car Heat A Lt.-_100
(See also Stock Exchange List)
Amer Cigar com
100
"90"
100
Pat Ry con 6s 1931.. J-D
1
—
77
-
42
.100
100
Preferred
104"
mm
,
s
*
133
38
United Electric of N J—100
1st g 4s 1949
J-D
79
72
103
5s
130
100%
42"
*38
102
Preferred
list
x
78
New'k Pass Ry 6s '30.J-J
1st
82%
\
38
99
Royal Bak Powd com...100
100 2000
1926..A-O
103*2 104% Standard
Rapid Tran St Ry
<
81*4
Oil
Pierce Oil Corp (w i)
Tobacco Stocks
89
Pat A Pas Gas A Elec—100
65
J-D
1st 5s 1933
135""
86
Pacific Gas A E com—..100
"74
63l2
100
No Jer St 1st 4s 1948 IM-N
40
110^
33
100
1st preferred....
2d preferred.
No Hud L H A P 6s 1938A-0
Stk E
V Cons Tract of N J
Gas 6s
Newark Consol Gaa__
Rys&Ltcom.lOO
Pub Serv Corp of N J—See
Tr ctfs 6% perpetual
\
*37
Narragan (Prov) El Co. 50
95
"63"
i
Washington Oil—...... 10
Newark Gas 6s Apr '44.Q-J
85
91
102U 103
Preferred 2
.100
; eN Y State
Rys corn
100
•eNor Ohio Tr & Lt com. 100
*
95
Madison
68
105
105
77
100
275
95
RcmingtonTypewtT comlOO
28
Detroit United Ry
e
130
Realty Assoc (Bklyn)...100
67
Federal Light & Trac
100
Preferred
.....100
100
78
86
,.
Pratt A Whitney pref...100
Producers Oil.....
173
90
Gas
146"
293
285
60
Indianapolis
30 1
..100
143
288
76
F-A
71
75
Preferred
,
-
10
168
Waters-Pierce
16
100
100
1st g 5s 1952
.A-O
Jackson Gas 5s g 1937—A-O
bLaclede Gas preferred.. 100
G§
69
93%
91
100
4s 1958 opt
77
100
Pittsburgh Steel pref..100
30
92
■
..50
95
15%
35*4
100
130
100
30
3'
85
'
50
Vacuum Oil
Essex A Hudson Gas—.100
Conn Ry A Ltg com
e Preferred
S
25
100
Pope Mfg Co com-..
*755
96
87%
325
103*2 Hudson County Gas
If 0
Indiana Lighting Co.... 100
.55
preferred
Preferred
"
76
95
Union Tank Line Co
Gr't West Pow 5s 1946..j»J
x53
Standard Oil subsidiaries
377
100
100
Pittsburgh Brewing
b
374
1st
if'
*%
2*2
73
10
.....100
Pettibone-Mullikea Co 100
e
ll"
72
85
100
Gas A El Bergen Co
Other Cities.
!
96
.J-D
100
Standard Oil of N Y
100
Standard Oil of Ohio—100
Swan A Finch
100
Consumers' L H A Pow—
N Wmsburgh & Flatbush—1
B
105
*3*2
20
com...100
Preferred
388
71
100
Transportation..
Ohio Copper Co
Ontario Sliver
316
J-J
Buff St Ry 1st con 5s *31 F-A
Com'w'lth Pow Ry A L.100
' Preferred
J
100
383
300
Brk CAN 6s 1939
!
100
77
Nassau Elec 1st 5s 1944 A-O
99
Stand Oil of Indiana
Con Gas of N J 6s 1936—J-J
102
J-J
Oil
400
Columbia Gas A Elec—100
102
92
Penn
460
J-J
F-A
90
130
385
4s 1948
Con g 4s 1955.
1st 4^s July 1941
Btelnway 1st 6s 1922
80
Solar
Otia Elevator com...
159
.
35
185
188
156
J-J
8
25
180
'
155
Brooklyn City RR
10
jBklyn Hgts 1st 5s 1941.A-0
Coney Isl & Bklyn.
100
98
New York Dock com..100
e Preferred
100
N Y Mtge A Security... 100
N Y Title Ins Co...
1100
184
98
99
46
112
National Surety
147
95
Ut
315
445
...
100
170
New York Transit Co
100
305
Northern Pipe Line Co.. 100
107
Ohio Oil Co
25 *128
Prairie Oil A Gas
100
355
Standard Oil (Kansas) -.100
Preferred
.106
...100
Mortgage Bond Co
e
Sou West Pa Pipe Lines. 100
Standard Oil (California) 100
74
55
102
*1*4
126
e
4
205
145
.....
Stand Oil of Kentucky.. 100
Stand Oil of Nebraaka.,100
*3*
„
Indiana Pipe Una Co
50 **122
National Transit Co
...25 * 38
230
3
200
98
Manhattan Transit.——20
238
A-O
80
140
83%
40
...100
227
102
CODB g
175
,100
\
200
Preferred
233
100
1st
Preferred
1
112
Lehigh Val Coal Sales...50
Manhattan Shirt
100
73.
170
110
80%
195
1.100
77*2
%
50
108
108
100
South
48*2
75
IB B & W E 6s 1933
1st 6s 1948
J-O
Internat Smelt A Refg. J00
N Y
Preferred .———100
6s *31A-0
4
105
100 *103
Bay State Gas
con
104
3
Niles-Bem-Pond
Buffalo City Gas stock—100
Cities Service Co com
100
Atlan Ave RR
102
365
95
Brooklyn
•
116
215
68
-
114
205
66
.
110
International Nickel.... 100
Preferred
100
International Salt
...100
Refining
100
Southern Pipe Line Co-.100
Amer Power A Lt com—100
,
105
338
Am Lt A Trac com——100 *335
Preferred
7
100
350
100
9"
100
1st g 5s 1951..——A-O / 49*2
51
115
125
International Silver pref.100
165
67
150
35
95
—..100
com
*57
100
112
130
Crescent Pipe Line Co...50
Cumberland Pipe Line.. 100
com
N Y Mutual Gas L
1%
4
46
120
Lawyers' Mtge Co
Galena-Signal Oil
B
3
42
com—.100
187
61
N Y A QEIL A Pow Co.100
•» »
share
100%
.J-J
Ingersoll-Rand
e Preferred
182
102
Second Avenue stock... 100
; 1
Consol 6s 1948 ctfs__F-A r 25
efilxth Avenue stock
103
100
<m
103
100
98
180
mm
15
100
Lanston Monotype——100
J-J
150
5
1st g 5s 1961
300
Co.—lOOj 340
/-II
98
130
Eureka Pipe Line
Consol 6s 1945
M-S
Hocking Val Products.. 100
660
Oft...
65
..100
Hoboken Land A Improve't
1st 6s Nov 1930.——M-N
116
Continental
5
10
6
i
J-D / 60
..100
104
100
.A-O
1st 6s 1922.
650
Colonial
__
H erring-H all-M arvd n
._
2
2
100
Internat Banking Co
102
mrnmmwm
92
Intercontln Rub
Per
.35
97
79
*20*2
30
86
e
640
275
1%
92
63
100
*1%
83
;
..100
32
£1
Oil
Oil
108*2
104
Borne-Scrymser Co..
.100
Buckeye Pipe Line Co...50 *160
Chesebrough Mfg Cons. 100 650
O
183
106
78
Atlantic Refining
33
170
100
*28
Standard Oil Stocks
81*4
"26""
100
Ref g 4s '52 op 1912...J-J
Hale A Kilburn com
1Q0
Railroad Securities Co—
20
13
com. 100
*57
77*2
~
27
87
100
'Hecker-Jones-Jeweil Milling
88"
HI C stk tr ctfs Ser A
20
80
.
60
West Pac lat 5s 1033..M-S
65
....
.100
M-S
I Sou Boulev 5s 1945
So Fer 1st 6s 1919
B
100
.
...
Preferred
.50
j.
'
Preferred
New York City
F-A / 99
1st 6s 1910
Ninth Avenue stock
I
1051
West Penn Tr&WatPow 100
101% Cent Un
42d & Gr St Fy stock
100
42d St M A St N Ave... 100
I
100
........
q
1
J-D
Scrip 6s 1914
4s
10
100
Scrip 5s 1914
...F-A / 28
280
Eighth Avenue stock
100
\
10%
85%
Preferred
General Chemical
1st g 5s June 1 1922
91
loo'
gold 63 1932
10
90
100
1st
Preferred
1%
128
86
..100
.
eom
Preferred
90
-
*1*2
124
..——100
70
102
...100
Northern Securities Stubs..
100
Preferred
J-J
Crosstown stock
2d preferred
Pitta Bess A Lake Erie
35
•
...100
78*4
06
1st mtge 6s 1922
M-N
Cen Pk N & E R Rstock. 100
Cent
56
100
16*4
88*2
k Hackensack Water Co—
70
53
100
84.
15%
87%
37%
preferred
—..100
Havana Tobacco Co
100
66
55
100
*.
com..
73
—100
Preferred.
b
Broadway Surface RR—
1st 6s 1924
preferred
77%
100*2 Wash Ry A El Co.——100
J-J
b
81*4
64
2d preferred
N Y Chic A St L
B let
preferred
e Preferred
e
2$
71
100
100
preferred.
Ask
79%
United Rys of St Lt—
Common
..—-100
B'y A 7th Ave stk
t
Bid
lat
b
"and interest" except where marked "f."
,
135
27
80
100
2d
125
130
.100
1st preferred
35
.100
South
b
bond prices
20
..100
4 Preferred
95
67
Goldfleld Consol M .....10
Railroad
9 Colo A
85
33
com
Preferred
e
"37""
30
100
Emersoh-Brantlngham
98*2
62
A-O r 60
100
Empire Steel A Iron
99% 100
118
58
70
Car Heating.... 100
Rubber Tire....100
Preferred——100
Davis-Daly Copper Co
10
duPont(El) de Nem Pow 100
70
100
80
97*2 101
100
e
.
30
80
100
.-.-.i.iii.
Preferred
9934
Westingh'se El A M 6s 1915
9934 100*4
6% notes Oct'17—See N Y Stk E x list
t
Inactive and Unlisted Securities
2d preferred...
Crucible Steel
e
„
97
9 Chic St P M A Om
■All
4.90
10%
17%
..k
Debenture 4s 1951
Continental Can com
95H
97*2
—
Preferred
70
100
80
Consol
97
—
com.....100
93
70
99%
98
95
Preferred
87
Consol
West Maryland 5s 1915.J-J-
t
.100
Preferred
Cluett.PeabodyA Co «oml00
99*4
< Chic A Alton
Total..
133
25
"imi
98*4
17,000
'
120
128
b
^
45,800
116
100
...100
Cfaflln (H B) Co com.. 100
e 1st
preferred....—.100
,
b
99»4
99*4 100
99*2 100
opt. J-D
6s Sept 1 1914 opt
M-S
$111,900
11,250
10,854
46,100
27.000
38,400
39,305
Casualty Co of America. 100
99
St L A S F 5a 1913
92
Preferred
99%
M-S
M-N
A-021
2*2
53
89
Celluloid Co
9934
96
95
•
106
*2%
—...—100
98
.
105
50
9934
Seaboard Air L Ry6sT0 M-S
South Pac Co Si J'ne 151014
Southern Ry 5s 1916.. F-A
HOLI DAY
$37,000
115*2 116%
City Investing Co
4.90
6a Apr 21 1914
130
290
Preferred
4.90
Sales.
8,413
84
122
—
list.
IN Y C Lines Eq 6s 1913-22 b 5.20
Jan 1914-1925
J-J b 5.20
,
Sales.
"80
.50
285
98*2
97*4
99*4
1912..M-S / 88
Lake Sh A Mich So 4%s.T4
99*2
Michigan Central 4i2S. 1914
99*2
Minn A St L g 6s 1914—F-A
96
N Y Cent
Shares.
1%
15
60
100
•
K C Ry A Lt 6s
.
(
99*4
98
.
Unlisted
Shares.
1
5
100
Preferred
:
100
British Col Copper Co
5
Brown Shoe com
...100
90*2
100%
9934
100
N Y N H A Haf-tf 5a T3.J-i> 4
Oct. 17 1918.
99
com
50
99
Gen'l Motors 6a 'IS—See NY Stk Ex
111
Cent 43^8 1914.^_.J-J
9938
Philadelphia.
V
99*2
98*2
95i2
1914.. J-D
ChleElevRys 5a 1914...J-J
Erie 6s April 8 1914..A-08
4I2S 1915..;
Boston.
95
WfcN
Paper....!00
1939-s.
n «s
Preferred)....
;,
9934 100
96*4
96*4
4Ms Jan 1914-1927...J-J b 5.20
PHILADELPHIA
;
98
Borden's Cond Milk Com.100
99
Coll 5s Oct 1 1914...A-0
Coll 5s April 1 1915..A-O
104,052,870
$9,400,312,825
$672,000
45
94
Bliss (E W) Co Com
,
Chea A Ohio 4
$11,000
1912.
69,511,151
$6,233,351,175
$140,400
4*4
42
Preferred
95
85
>
Copper 5s 1915._M-S
Balto A Ohio 5S 1914...J-J
Jan. 1 to Oct. 174
1912.
185
*3%
Typefounders com.100.
Amer Writing
91
-.i.-.
Amal
stock
Exchange.
175
-5
Bond A Mtge Guar..—.100
""Boo
$216,000
71
80
pref
Barney A Smith Car
75
Bklyn Rap Tr 5s 1918
J Friday
63
Deb
"80"
77
60
108
63
500
1,501,000]
100*2
P-A
Preferred ———.—160
50
...25
Steel
Deb 4a 1923
110
...100
Northwestern Teleg
Pacific A Atlantic
$10,000
64,500
38,500
41,000
36,000
$809,000
.
e
<
HOLI DAY
Tuesday
i
Bonds.
100
Gold A Stock Teleg
100
Mack ay Cos com.....100
V. 8.
Bonds.
41,215,150
27,415,900
378,664
345,069
.....
State
Bonds.
Par Value.
i Monday
!
e
Am
Ask
99
Mtscell—(Coii)
Fdy 6s 1935.A-#
63
104
Teleg A Cable
Bid
ladust and
57
102
Empire A Bay State Tel .100
TRANSACTIONS AT THE NEW YORK STOCK EXCHANGE
DAILY, WEEKLY AND YEARLY. ;
Stocks.
Art
But
Central A South Araer.lQG
Comm'l On Tel (N Y).._25
B
s
f
83
113
A
Bronx
Mtge Guar
1141
~39"
43
75 A
100
87
A
89%
Title
1
165
100
e
Westingh'se Air Brake.50 *
Willys-Overland cona---100
64%
Preferred
85
....100
70
Worthlngton(HR)Co pf.100
....
ll*f
113
Apr 5s 1951 not opt
Virginia Iron C A C...100
Wells Fargo A Co.
100
A
ll\
,
Im"
67 '
93,
75
v
/ Flat price,
n Nominal.
* Sale priee.
'■ New stock,
ti
Ex-,
Listed on Stock Exohange but infrequently dealt in; record of Bales;;
OCT. 18
1105
CHRONICLE
THE
1913.]
■
y\ V*
Jmrestmeitt and Railroad Intelligence.
'
RAILROAD
EARNINGS.
GROSS
following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returna
can be obtained.
The first two columns of figures give the gross earnings for the latest week or month, and the last two
colums the earnings for the period from July 1 to and including the latest week or month.
We add a supplementary;
statement to show the fiscal year totals of thosp roads whose fiscal year does not begin with July, but covers some other
The
period.
subsequent page.
The returns •/" the electric railvmys are brought together separately on a
Current
Previous
Current
Year.
Year.
Year.
Year.
September
327,776
155,334
145.666
43,633
9,731,956
254,853
2,331,716
155,237
120,026
9,443,154
154,284
228,439
1,036,433
Week
ROADS.
Previous
Month.
Week
ROADS.
or
Current
N O & Nor East-
Ala & Vicksburg- Septomber
Vicks Shrev & Pac September
1st wk Oct
Ann Arbor
—
Atch Top & S Fe
August
Atlanta Birm & Atl August
Atlantic Coast Line August
Chariest & W Car August
,
Lou Hend & St L August
.
Bangor & Aroostook August
Bessemer & Lake E August
931,352
N Y Ont & West
446,990
412,964
635,258
N Y Susq &
__
9,630,813 18,874,942 18,590,783
504.652
516.820
257,351
2,437,795 4,788,868 4,905,552
257,203
129,088
301,697
196,128
10S.695
228,746
...
Chic Mil &
PugS]
8,409,803
1,523,734
»ChieStPaulM&0_ August
Chic Torre II & S E August
175,923
j.Cin Ham & Dayton August
969,432
171,210
Colorado Midland
August
261.906
b Colorado & South 1st wk Oct
Cornwall
17,058
August
33,067
Cornwall & Lebanon August
360,873
Cuba Railroad
August
2,291,639
Delaware <5? Hudson August
3,636,234
Del Lack & West.. August
537,900
Denv & Rio Grande 1st wk Oct
1st wk Oct
155,000
Western Pacific.
17,627
Denver & Salt Lake 1st wk Oct
146.240
Detroit TOl & Iront August
24,150
Detroit & Mackinac 1st wk Oct
Dul & Iron Range.
1,212,159
August
-
.
,
...
...
.
8,140,192 15,893,582 14,890,109
1,481,330 2,959,118 2,774,327
300,039
325,759
164,961
1,847,878
971,818 1,852,025
317,519
298,727
184.427
4,173,420 3,873,030
304,943
42,114
22,377
34,695
78,571
40,322
64,577
643,702
685,060
309,308
2,280,859 4,367,117 4,333,392
3,492,749 7,185,827 6,827,205
536,800
7,152.815 7,236,398
1,793,859
2,020,060
140,600
_
24,634
442,163
397,325
154,380
21,141
282,193
358,355
279,751
342,082
1,060,321
2,375,182 2,129,394
999,864
1,064,768
2,240,518 2,241,641
1,310,590
1,370,924
11,189,254 11,123,247
200,356
201,673
525,778
566,842
510,133
480.067
-1,741',989
16,155,716 15,426",152
1,921,354
2,024,820
64,603
74,191
1,139,245 1,116,639
643,600
668,953
5,651,031 5,741,689
101,568
102,785
Fonda Johns & Glov August
279,689
265,622
Florida East Coast- August
260,200
251,009
Georgia Railroad— August
289,498
Grand Trunk Pac__ 4th wk Sept
Grand Trunk Syst. 1st wk Oct 1,088,759 1,058",587
140,695
148,695
Grand Trk West. 1st wk Oct
663,159
694,064
48,246
53,127
Det Gr Hav & M 1st wk Oc.t
668,354
48,490
704,049
45,400
Canada Atlantic- 1st wk Oct
Great North System September 8,563,230 7,557,936 22,995,873 20,902,933
335,707
366,777
172,226
185,283
Gulf A Ship Island- August
764,455 1,514,688 1.454.491
810,673
August
Hocking Valley
Illinois Central.
September 5,767,603 5,556,680 16,822,632 16,240,213
3,201,118
256,000
2,883,375
194,000
Internat & Grt Nor 1st wk Oct
131,084
2,352,390 2,346,397
153,292
a Interoceanic
Mex 1st wk Oct
617,331
616,053
320,750
312,337
Kanawha & Mich- August
1,769,548
935,750
1;729,433
915,550
Kansas City Sou
August
7,119,997 7,533,548
August— 3,672,296 3,999,841
Lehigh Valley
291,076
296,430
144,974
152,888
Louisiana & Arkan. August
15,499,911
3 Louisv & Nashv.. 1st wk Oct 1,289,420 1,172,965 16,525,461
27,154
22,200
12,415
11,970
Macon & Birra'ham August
1,058,080 1,074,870 2,056,862 2,035,999
Maine Central
August
85,311
93,191
47,464
49,011
Maryland & Penna August
184,500 2,558,800 2,147,800
264,900
a Mexican Railways 4th wk Sept
222,893
104,616
14,803
3,560
1st wk Oct
Mineral Range
2,647,706 2,697.454
209,518
200,244
1st wk Oct
Minn, & St Louis
1st wk Oct
Dul So Sh & Atl
Elgin Jollet & East. August
El Paso & Sou West August
Erie
August
_—
...
.
—.
Pac_ August
Northwestern
Pacific Coast Co
—
August
August
Bait Ches & At!.. August
v
CumberlandVall
.
August
August
Long Island
Maryl'd Del & Va August
N Y Phila & Norf August
Northern Central August
Phila Bait & Wash August
W Jersey & Seasb August
Pennsylvania Co— August
Grand Rap & Ind August
Pitts C C & St L_ August
Vandalia—
August
Total Lines—
East Pitts & E
.
j
Minn
StP&SSM)
1st wk Oct
Chicago Division J
Mississippi Central. August
658,068
91,538
691,584
Mo Kan & Texas. 1st wk Oct
Missouri Pacific.. lst.wk Oct 1,236,000
1,050,745
Nashv Chatt & St L August
601,512
a Nat Rys of Mex.f 1st wk Oct
10,183
Nevade-C al-Or egon 1st wk Oct
u
x
N O Mobile & Chic
August
New Orl Great Nor. August
178,582
155,794
eNYC & Hud Riv
August
Lake Shore & M S August
n Lake Erie & W
August
10629 957
5,134,723
546,896
'361,301
3,057,779
3,259,132
323,013
Chic Ind & South August
'
Michigan Central August
Clev C C & St L. August
Peoria &
Eastern August
Cincinnati North August
Pitts & Lake Erie August
N Y Chic A St L. August
Tol & Ohio Cent- August
745,902
138,411
1,766,008
1,026,586
575,590
Tot all lines above August
26819 396
N Y N H & Hartf— August
6,100,010
8,892,776
8.402,942
171.621
181,879
8,615,446
696,764 9,220,387
1,157,000 17,159,511 17,287,280
1,098,297 2,077,943 2.142.492
1,118,603 9,276,941 16,984,806
140,565
124,012
12,283
375,888
364,386
195,069
300,469
321,897
152,783
10134 028 20,734,768 19,399,935
5,072,476 10,095,550 9,516,646
561,807
1,042,534 1,021,563
655,177
682,295
349,230
5,618,418
2,919,182 •6,023,866
3,175,445 6,261,415 5,777,515
604,341
586,750
341,104
244,439
251,377
136,986
1,774,667 3,508,137 3,441,932
1,915,167
1,053,825 1,979,463
990,335
1.162,476
506,477
26025227 52.328,631 49,185,468
6,410,194 11,878,288 12,163,959
88,334
AGGREGATES OF
Previous
Aug
Aug
Aug
Aug
Sept
Sept
Sept
4th week Sept
1st week Oct
week
2d
week
3d
week
4th week
1st week
2d
week
3d week
1st
Year.
36 roads)
roads)
i 41
Year.
Decrease.
i 41
roads)
i 42
roads)
i 40
roads)
-
41 roads)
41 roads)
1 40
roads)
39 roads)
41 roads)
—
—
21.077,101
14.350,345
14,798,702
15,662.277
20,699,831
14,441,753
15,101,742
15,604,935
21,565.852
16,035,827
15.163.178
15,866,404
22.219,247
15,102,112
15,656,692
15,809,546
20,520,726
15,875,520
v
J
,
36271736 35334650 71.374,225 68,442,086
2,977,903
2,838,792
H
*
Reading Co—
Phila & Reading. August
Coal & Iron Co
August
Total both cos— August
Rich Fred & Potom August
Rio Grande June
July
4,234,747 4,418,187 8,255,786 8,402,354
6,453,239
2,140,258 3,449,642 4,202,464
6,375,005; 7,867,830 12,458,251 14,855.594
455,843
451,429
218,227
217,032
___
84,276
83,516
84,276
173,655
188,668
13,575
6,614,386 12,119,374 12,332,268
685,481
711,244
357,167
Rutland _-i
307,540
311,893
163,277
St Jos & Grand Isl_
5,780,631
2,940,286 5,528,833
StLIronMt& So__
153,324 2.083,565 1,819.138
St L Rocky Mt & P
3,470,982 3,929,517 3,470,982
St Louis & San Fran
1,301,928
1,367,572
1,301,928
f Chic & East Ill4,772.910
4.772,910 5,297,089
Total all lines
3,550,770"
3,528,254
271,000
St Louis Southwest824,277 1,736,343 1,664,053
San Ped LA&9L.
5,775,869
5,977,578
517,098
Seaboard Air Line
12254090 12447187 24,015,101 24.209,578
Southern Pacific
August
1st wk Oct 1,498,272 1,416,821 18,356,971 18,061,112
Southern Railway
253,897 3,401,472 3,164,280'
245,192
Mobile & Ohio
1st wk Oct
2,791,911
197,114
206,048
2,644,607)
Cin N O & Tex P 1st wk Oct
1,300,613
1,395,458
95,673
Ala Great South- 1st wk Oct
91.216
632,939.
641,792
49,039
49,409
Georgia Sou & Fla 1st wk Oct
941,283!
940,989
486,437
473,513
Spqk Portl & Seattle August
36,3911
26,743
2,727
1,904
Tenn Ala & Georgia 1st wk Oct
275,470
295,552
149,767
147,153
Tennessee Central- August
4,520,846!
4,735,628
385,586
367,768
1st wk Oct
Texas & Pacific.
19,830
13,974
9,863
6,370
Tidewater & West
August
384,410
20,773
377,822)
20,332
Toledo Peor & West 1st wk Oct
1,081,796
1,308,319
98,341
76,557
Toledo St L & West 1st wk Oct
8,441,501 8,451,437 16,264,110 16,270,0211
Union Pacific Syst
August
301,2241
329,045
155,498
174,403
Virginia & So West- August
920,8095
1,076,313
516,927
578,919
Virginian
:
August
Wabash
September 12,962,654 2,745,570 8,577,230 8,232,770!
1,245,229=
1,482,322
674,246
754,545
Western Maryland- August
2,238,199
2.379,063
735,612
820,328
Wheel & Lake Erie. September
40,265]
34,782
20,121
18.217
Wrightsv & Tennille August
848,514 2,676,660 2,333,510
978,451
Yazoo & Miss Vail. September
83,516
15,002
6,325,668
363,452
August
136,736
August
2,858,065
August
199,178
May
3,929,517
July-1,367.572
July
5,297,089
July
1st wk Oct
249,000
870,817
August
548,980
1st wk Oct
1st wk
Rio Grande South
Rock Island Lines.
_
—.
-i
Oct
August
___
—
___
—
.
Current
Previous
Year.
Period.
Various Fiscal Years.
Year.
%
Delaware & Hudson
N Y Central & Hudson River.e.
Jan
Jan
Lake Shore & Michigan South Jan
Lake Erie & W est ern .n
Jan
Chicago Indiana & Southern- Jan
Michigan Central
----- Jan
CleveCin Chic & St Louis
Jan
Peoria & Eastern
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
New York Chicago & St Louis Jan
Toledo & Ohio Central
Jan
-
-
-
Jan
Total all lines..
Pennsylvania Railroad
Jan
Baltimore Chesap «& Atlantic. Jan
-
Cumberland
Valley
Jan
Jan
Long Island
Maryland Delaware^ Virgin a Jan
N Y Philadelphia & Norfolk- Jan
Northern Central
Jun
Philadelphia Bait & Wash
Jan
West Jersey & Seashore
Jan
Pennsylvania Company
Jan
1
1
1
1
to
to
to
to
Aug
Aug
Aug
Aug
31 16,058,589 14,442,403
31 76,597,004 69,871,808)
31 39,129,905 34,562,566
1
1
to
to
Aug
Aug
31 2,879,724 2,680,969;
31 23,729,003 20,855,811)
1
1
1
to
to
to
Aug
Aug
Aug
31 22.225.292 20,472,331!
31 2,231,829 2,110,788;
866,409
861,194
31
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
Aug
31 13,456,962 11,512,368:
31 8,103,640 7,642,438?
1
1
1
Aug
Aug
Aug
Aug
Aug
Aug
Aug
31
3,675,123!
3,918,790
31 3,891,246 3,409,3911
31 197029804' 1776547871
31
112493912
121687572
31
234,694
2,348,888
8,276,081
31
31
208,870'
2,089,146
7,499,846
90,415
101,580
2,393,981)
2,680,739
8,191.309
8,784,057
31 13.996.293 13,205,469
31 4,541,169 4,560,469]
31 43,629,809 39,722,379
31 3,636,586 3,515,833
31 28,970,251 27,784,374
31 7,288,421 6,680,529
31 172236019 160338493'
to
to
Aug
Aug
31
31
1
to
Aug
31
1
1
to
to
to
to
Aug
Aug
Aug
Jan
1
1
Jan
Jan
Total lines—East Pitts & Erie Jan
1
1
1
to
to
to
Aug
Aug
Aug
1
1
Dec 1
to
to
Aug
Aug
to
Jan
to
July
Aug
Grand Rapids & Indiana
Pitts Cincin Chic & St Louis.
Vandalia
-West Pitts & Erie Jan
•All lines E & W_ Jan
Rio Grande June
Rutland----
..
;
1
Aug
'
31 85,145,349 79,161,026
31 257381369 239499520
609,013 j |
31
590,307I
31 2,422,9901 2,302,768
Current
Monthly Summaries.
%
Cur. Yr.
Mileage.
$
21,220,128
14,789.903
8
8
1,472,869,1,572,373
Increase or
$
4th week July
Year.
GROSS EARNINGS—Weekly and Monthly.
Current
Weekly Summaries.
Previous
24175970 23447824 47,558,678 45,421,489
12095766 11886826 23,815,547 23,020,597
August
West Pitts & E„ August
All East & West August
Pere Marquette
August
—
Iowa Central
Current
■Year.
335,468)
—
Pennsylvania RR
-
1,962,453 2,001,665974,550 1,023,883
595,498
627,486
303,868
511,867
529,205
273,233! 258,169
3,933,478 3,875,822 7,779,205 7,455,672
6,013,758; 6,035,548 12,086,259 11,785,904
808,304
842,444
418,907' 420,215
1,494,630'
1,439,236
791,872
710,645
16496371 15797061 32,434,151 30,463,79696,197
105,870
55,986
60,292
554,842:
584,497
293,523
297,295
2,581,7792,902,787
1,395,520) 1,263,915
41,527
41,263
23.167
22,620
697,836
769,285
356,7231 342,925
2,283,228 2,180,707.
1,171,513 1,117,796
1,884,005) 1,882,952 3.670.015 3,702,872
1,869,632
1,894,452
1,058,766 1,025,618
6,293.524! 6,227,837 12.507.159 12,222,657;
1,020,115
1,057,065
551,217
559,471,
3,989,567 3,917,983 7,805,053 7,525,994
1,860,820
979,456 2.013.016
1,032,132
j.-
457,102
446,073
661,770
_
fChic & North West August
August
West- August
Norfolk South ern
August
Norfolk & Western. August
Northern Pacific
August
1,045,251
8,878,271 18,281,964 16.931,156
319,933
309,347
170,924
468,832
233,888
442,914
2,071,636
1,043,208 2,128,610
...
178,768
111.833
93,476
230,623
Birmingham South- August
Boston & Maine
4,580,644 4,637,784 8,857,078 8,845,669
August
3,437,216
257,179 3,768,984
Buff Roch & Pittsb- 2d wk Oct
'263,999
401,104
Buffalo & Susq
222.426
421,678
201,743
: August
5,718,700
Canadian Northern 1st wk Oct
471,700 6,324,100
575.600
1st wk Oct 3,145,000 2,765,000 38,459,521 38,391,114
Canadian Pacific.
Central of Georgia- August
1,002,793 1,088,318 2,008,082 2,216,943
Cent of New Jersey August
2,856,867 3,074,388 5,660,947 5,888,294
627,256
Cent New Eng
323,750
589,644
312,940
August
751,824
391,564
761,532
391.601
Central, Vermont-_ August
9,561,638Ches & Ohio Lines. 1st wk Oct
9,874,204
612,935
692.236
4,364,550
1st wk Oct
342,568 4,536,979
321,062
Chicago
Alton
Chic Burl & Quincy August
9,059,969 8,487,985 16,814,528 15,783,908
3,847,526
277,791
4,143,271
281,088
p Chic Gt Western. 1st wk Oct
1,955,421
144,682
2,004,296
Chic Ind & Louisv. 1st wk Oct
143,687
ChicMilw-& StP.l August
7,870,612 8,111,277 15,611,130 15,504,824
Baltimore & Ohio_ August
B&OCh Ter RR August
a
Year.
S
S
S
293,346
145,680
134,438
48,575
Previous
Year.
or
Month.
'
S
Ala N O & Tex Pac-
'
July 1 to Latest Date.
Latest Gross Earnings.
luly 1 to Latest Date.
Latest Gross Earnings.
—143,027
—439.558
—364,476
—204,127
—1,519,416
—660,359
..238,072
0.68
December
2.22
-235,607
January
February.. -240.986
March---. -240,510
2.40
1.29
,
-240.740
April
—554,950
—204,611
6.84
4.37
3.52
1.29
July
-206.084
+ 1,045,126
5.08
August
+ 160,304
1.01
September
-219,492
90,097
-239.445
May
June—— -230,074
„
Prev. Yr.
Previous
Year.
Year.
or
Decrease.
%4
S
234.146 263,768,603 234.0S7.361
232,179 246,663,737 208,535,060
237,756 232,726,241 218,336,929
237,295 249,230,551 238,634,712
236,515 245,170,143 220,9S1,373
236,619 263,496,033 232,879,970
227,242 259,703,994 242,830,546
203.773 235.849.764 223.813.526
210,709 259.835.029 255,493.023
88.450
Increase
81,504,881
+29,681,242 12.6$
+38,128,677 18.28
6.59
+ 14,389,312
4.46
+ 10,595,839
+24,188,770) 10.90
+30,616,063 13.14
6.95
+ 16.873.448
5.33
+ 12,036,238
1.50
+ 4.342,006
+3,617,644 4.64
77,887,237
b Does not include earnings of Colorado Springs & Cripple Creek District Railway from Nov. 1 1911.
e Includes the Bos¬
ton & Albany, the New York & Ottawa, the St. Lawrence & Adirondack and the Ottawa & New York Railway, the latter of which, being a Canadian
road, does not'make returns to tbe Inter-State Commerce Commission.
/Includes Kv&nsville <&%Terre Haute and Evansville & Indiana RR. g In¬
cludes the Cleveland Lorain & Wheeling Ry. in both years,
n Includes the Northern Onio RR.
p Includes earnings of Mason City & Ft. Dodge and
Wisconsin Minnesota & Pacific,
s Includes Louisville & Atlantic and the Frankfort & Cincinnati,
t Includes the Mexican International, u Includes
the Texas Central In both years and the Wichita Falls Lines in 1912, beginning Nov, 1,
v Includes not only operating revenues, but also all ether
receipts,
x Includes St. Louis Iron.Mountain & Southern.
— - -**A — -—
—
a
Mexican currency,
von
THE
CHRONICLE
(Vol.
Latest Gross Earnings
by Weeks.—In the table which
follows
we sum
crease
up
in the aggregate over the
First week of October.
Canadian Northern
Canadian Pacific
_
Chesapeake & Ohio
Chicago & Alton
Chicago Great Western
Chicago Ind & Louisville.
—
_
•Cine New Orl & Texas Pacific..
Colorado & Southern..
3,145,000
692,236
321,062
281,088
143,687
206,048
Salt Lake
Grand Trunk of Canada
Grand Trunk Western
Nashville
Mineral Range.
Minneapolis & St Louis
\
Central
Minneapolis St Paul & S S M__
Missouri Kansas & Texas
'
Railways of Mexico._
N evada-Cal ifornia-Oregon
Southern
"TI65
a
3,009
~
20,824
94,026
for
reserve
depreciation.
allowing for other income received.
1,172,965
9,274
87,834
5,180
79,000
6,295
517,091
2,100
21,784
16.035,827 15,875,520
994,631
1,427
22",666
823
17,818
4,441
834,324
160.307
companies reported this week:
Earnings-
Net Earnings—•—
Previous
Previous
Year.
228,439
442,914
Current
Previous
Year.
Year.
American
Rys Co
$
S eptember
457.683 428,771
3,874,229 3,618,152
60,233
56,221
265,013
249.381
210,926 198,145
1,324,912
1,253,439
Bangor Ry & Elec Co August
74,248
70,418
496,159
458.875
Baton Rouge Elec Co August
13,862
11,767
101,979
95,754
Belt Line.-.
June
63,527
57,866
372,128
314,935
Brazilian'Trac, L & P August
2038,340 1802,691 15,624,438 13.493,369
Brock & Plyxn St Ry. August
17,289
15,958
87,638
82,804
Bklyn Rap. Tran Syst June
2288,573 2195,014 11,995,943 11,672,616
Cape Breton Elec Ry August
33,454
31,598
240,622
225,729
Chattanooga Ry&Lt. August
99,752
94,925
790.280
687,539
Cleve Painesv & East August
48,985
44,928
283,526
265,362
Cleve Southw & Col- August
129,052
117,208 7 824,768
767,999
Columbus (Ga) El Co August
50,403
44,758
387,811
350,007
June
Coney Isl & Bklyn
185,620 169,552
776,451
719,888
Dallas Electric Corp. August
180,735
147,352
1,384,291
1,133,369
Detroit United Ry— 3d wk Sept
246,080 243,400 9,394,207
8,306.852
DDEB & Batt(Rec) June
51,782
51,417
300,659
311,716
Duluth-Superior Trac August
117,097
105,656
834,294
.761,755
East St Louis & Su,b- August
236,699 208,339
1,729,381
1,555,174
E1 PasoElectric Cos.. August
65,590
63,401
570,153
495,618
42d St M & St N Ave Juno
161,785 159,199
933,276
864.189
Galv-Houst Elec Co. August
223,139 199,208
1,564,298
1,302,842
Grand Rapids Ry Co August
119,738
111,605
859,538
814,673
Harrisburg Railways- September
81,575
74,555
743,530'
688,757
Havana El Ry, L & P
Wk Oct 12
(Railway Dept)
51,088
56,861
2,218,154 2,004,091
Honolulu Rapid Tran
& Land Co
August
50,894
45,688
409.281
365,102
Houghton Co Tr Co. August
28,314
25,115
205,507
203,712
Hudson & Manhattan June
297,865 283,357
1,904,868
1,842,112
Idaho Traction Co__ June
36,425
34,772
199,471
189,313
Illinois Traction.
August
655.684 628,060
5,071,614
4,771,399
Interboro Rap Tran. August
2348,789 2333,152 21,451,314 20,996.030
Jacksonville Trac Co August
55,255
48,856
443,883
399,124
Lake Shore Elec Ry. August—s.163,244
147,887
942.467
872.777
Lehigh Valley Transit September
136,947
116,328
1,225,603
1,045,877
Lewis Aug & Waterv. August
81.046
71,808
459,567
409,223
Long Island Electric. June
25,815
22,718
96.233
109,221
Mihv El Ry & Lt Co. August
508,894 470,227
3,952,979 3,706,508
Milw Lt Ht & Tr Co. August
150,026
131,833
947,460
816,484
Monongahela Val Tr. August
87,560
76,981
610.624
543,827
Nashville Ry & Light August
178.431
166,000
1,428.262
1,335,088
N Y City Interboro.
June
55,181
39,507
293,867
213,516
N Y & Long Isl Trac. June,
38,931
37,178
190,382
180,238
NY& North Shore.. June
15,504
14,782
75,090
70.560
N Y & Queens Co..
June
135,525
132,479
673,175
631,664
New York Railways. August
1185,275 1165,082
9,357,550 9,111,740
Northam Easton & W September
17.047
16,601
136,181
142,,527
North Ohio Trac & Lt August
339,306 305.222
2,155,676
1,979,792
North Texas Elec Co August
185.885
147,203
1,376,110
1,088,836
Northw Pennsylv Ry August
47,190
44,461
250,441
227.190
Ocean Electric (L I)_ June
18,273
17,326
48,820
45,936
Paducah Tr & Lt Co. August
26,312
23,954
'189,106
184,966
Pensacola Electric Co August
24,953
25,905
188,064
188,457
Phila Rap Trans Co. August
1970,032 1913,094
Port (Ore) Ry L&PCo- August
1556,152 543,189
4,418", 046 4,376",363
Portland (Me) RR— August
118,155
130,854
708,429
660.876
Puget Sd Tr L & P— August
723,529
680,206
5,608,510 5,478,301
Richmond Lt & RR. June
41,578
38J20 7- 174,625
167,368
St Joseph (Mo) Ry ,Lt,
Heat & Power Co. August
102,859
105,091
814,720
768,350
36,122
38,085
Santiago Elec Lt & Tr September
340,535
299,763
Savannah Electric Co August
70,985
64,073
544,695
488.500
June
Second Ave (Rec)
94,533
90,658
505,475
462,217
Southern Boulevard. June
20,547
14,837
97,086
65,206
Staten Isl'd Midland- June
34,312
31,424
131,929
123,340
62,981
71,623
Tampa Electric Co- Aug,ust
538,730
496,263
June
Third
Avenue
362,083 333,854
2,004,296
1,883,583
Twin City Rap Tran. 1st wk Oct
155,485
170,414
6,732,394 6,236,998
Underground Elec Ry of London
Lojndon Elec Ry._ Wk Oct 4 1:12,810 .£14,020
£540,250
£537,680
£12,820 £13,370
Metropolitan Di'st. Wk Oct 4
£515,679
£497,772
London Gen Bus.. Wk Oct 4
£67,013
£56,789 £2,490,246 £2,011,987Union Ry Co of N Y C June
263.886 244,454
1,312,389
1,207,987
362,267
330,434
UmonRyG&ECodll) July
2.667,026
2,081,754
United Rys of St L_. July.!
1065,928 1014,141
7.287,650 6,988,825
60,600
Westchester Electric. June
57,875
272,776
272,722
W estern Rys & Light August
223,170
198,202
1,647,922 1,456,823
Yonkers Railroad-__ .June
66,811
69,044
,356.156.
328,605)
York R ail ways
August67,486
62,350
s499,921'
465,392
24,303
21,417
Youngstown & Ohio. August
163,212
152,395
17,381
17,488
Youngstown & South August
113,557
109,556
Atlantic Shore Ry_
c Aur Elgin & Ch Ry.
August
August
_
__
.
:
-Gross
Year.
Jan. 1 to latest date.
Previous
Year.
$
—
2,727
385,586
24,773
76,557
Year.
Current
or
11,243
209,518
Current
Week
Month.
14,803
1,904
367,768
20,332
Name of
Road.
62,000
81,451
98,341
Roads.
After
22,208
116,455
Net Earnings Monthly to Latest Dates.—1The table
following shows the gross and net earnings of STEAM rail¬
-
*144,246
5,929
25.758
ELECTRIC RAILWAY AND TRACTION COMPANIES.
370
31",882
Toledo St Louis & Western.
,
201,400
30,172
1,416,821
Tennessee Alabama & Georgia!
j
Toledo Peoria & Western.
25,881
221,250
9,588
12,283
13,575
271,000
517,098
Texas & Pacific
.
.
7 ,007
1,498,272
roads and industrial
Includes
x
14,400
"
745,902
696,764
1,157,000
238,897
1,118,603
658,068
691,584
1,236,000
245,192
601,512
10,183
-
Total (41 roads)
Net increase (1.01%)
July 1 to Sept 30
Aug
Apr 1 to Aug 31---...
43,637
15,002
249,000
548,980
Railway
226,298
34,278
413,946
26,312
236,146
25,258
Latest Cross Earnings.
Rio Grande Southern
St Louis Southwestern.'
Seaboard Air Line
57,195
719,889
Transmission Co—
Southern Utilities Co
8,934
256,000
131,084
a96,943
0853,412.
26,184
228,966
21",506
"'"995
194,000
153,292
1,289,420
3,560
200,244
al02,170
o882,710
"3~, 297
1,058,587
$
28,114,18528,306,763
Ontario Power Co and Ontario
342,568
1,088,759
i
5,706,358
Sept
Keystone Telephone...Sept
Jan 1 to Sept 30—-
17~,518
103,900
380,000
79,301
277,791
144,682
197,114
Year.
4,176,605 24,643,264 23,596,589
-
Jan 1 to Sept 30—1—
68
.
Previous
-
Amer Tel & Tel (Holding co)
Jan 1 to Sept 30
|
Detroit Grand Haven & Mill
.Canada Atlantic
j
International & Great Northern
Interoceanic of Mexico.
National
:
24,634
64,603
49,039
Denver South Shore & Atl
Missouri Pacific.
Mobile & Ohio
257,179
471,700
2,765,000
612,935
17,627
...
Georgia Southern & Florida
Iowa
48,575
of Net Earns.—
Current
Year.
Year.
9,073.075
D etroit E dison
4,457
304,943
536,800
140,600
21,141
Detroit & Mackinac
—-Bal.
Previous
-,
Year.
Amer Tel & Tel (Associated cos)—
Jan 1 to Aug 31
10,994,010
Decrease.
95,673
261,906
537,900
155,000
24,150
—
Current
$
Increase.
1912.
91,216
48,633
239,661
575,600
■—-Int., Rentals, &c.-—
-,
Companies.
week last year.
74,191
49,409
Denver & Rio Grande
Western Pacific.
Louisville &
same
1913.
Alabama Great Southern
Ann Arbor
Buffalo Rochester & Pittsburgh
Denver &
INDUSTRIAL COMPANIES.
separately the earnings for the first week of
The table covers 41 roads and shows
1.01% in¬
October.
xcvii.
233,888
468,832
Current
Year.
'Year.
...
...
•
Bangor & Aroostook, b-Aug
July 1 to Aug 31—..:.
Bellefonte Central, b—Sept
Jan
1
to
8,115
62,954
Sept 30
48,948
85,695
6,771
69,063
129,125
1,144
12,820
56,000
1,531
10,568
Boston
& Albany—b
April ! to June 30
Chic Ind &
4.325,777
Louisv.b...Aug
3,929,518
.
650,737
1,232,627
July 1 to Aug 31
Cuba RR
.....Aug
July 1 to Aug 31.-
1,189,761
631,591
1,175,874
—
309,308
643,702
354,783
666,710
Duluth So Sh & Atl.b~ Aug
July 1 to Aug 31:..
206,901
369,980
,
360,873 :
685,060
1,164,939
313,881
634,024 /
218,881
354,939
161,740
297,253
121,313
269,924
—
.
—
88,200
171,685
97,245
168,982
_
-
Mineral
Range.b
—Aug
July 1 to Aug.31
19,135
77,356
Tol Peoria &, West, b—Aug
123,581
126,198
364,078
120,003
123,401
353,050
Erie.b...Sep
820,328
July 1 to Sep 30—— 2,379,063
735,612
2,238,199
September
July 1 to Sept 30-r
'
defl 1,317
defl,313
74,443
142,759
„
,
Wheel & Lake
Western
Maryland.b—Aug
754,545
1,482,322
July 1 to Aug 31———
'
11,307
19,751
10,875
13,082
34,938
27,386
33,356
86,612
263,266
680,224
866,930
198,054
372,629
212,963
372,271
_
—
—
...
-
674,246
1,245,229
277.673
•
INDUSTRIAL COMPANIES.
—
.
—
-Gross
Earnings-
Current
Year.
Net Earnings
Prevoius
Year.
Year.
Previous
Year.
Companies.
Current
_—■—
.
Amer Tel & Tel (associated cos)a
Jan 1 to Aug 31
141,963,035 129,615,075
39,108,195 37,379,838
Amer Tel & Tel (Holding co)—
Jan 1 to Sept 30.
34,199,982
30,349,622 27,773,194
.
Cities Service Co
—
•
.
31,273,861
...Sep
147,696
to Sep 30------ 1,591,064
97,324
1,152,252
122,914
1.459,652
1,069,656
Detroit Edison
...Sept
431,613
Jan 1 to Sept 30
3,938,405
338,023
3^,078,591
159,365
1,602,599
131,222
1,267,358
944,417
102,039
901,818
52,496
465,112
51,139
447,548
^Mexican Light & Pow.Sept
833,760
Jan 1 to Sept 30
7,044,970
728,630
6,516,421
602,924
5,155,039
533,177
4,677,041
Oct
1
—
Keystone Telephone.a.Sept
Jan 1 to Sept 30--:
107,310
91i795
Ontario Power Co and Ontario
Transmission Co—
366,899
314,613
Southern Utilities Co.a.Aug
Apr 1 to Aug 31
88,611
390,988
26,754
119,784
a
0
These results
are
—
'
.
are
before deducting taxes.
c
These figures are for consolidated company.
in Mexican currency.
Interest Charges and Surplus.
-Int., Rentals, Ac.—
Current
Previous
Year.
Roads.
Year.
-Bal.
of Net Earns.—
Current
Year.
Electric Railway Net Earnings.—The following table
gives the returns of ELECTRIC railway gross and net earn¬
ings reported this week:
—Gross
Previous
Bangor & Aroostook
July 1 to Aug 31
Aug
Bellefonte Central
Sept
Cuba
1 to
224,559
RR
240
244
904
2,196
10,660
1,287
8,372
Aug
66,792
133,583
66,375
132,750
94,948
163,670
137,174
Aug
104,896
207,047
103,616
198,752
July 1 to Aug 31
July 1 to Aug 31—
111,970 xdef39,165 *def22,860
221,730 *def86,243 *def54,629
2,160
Sept 30
Duluth So Sh & Atl
112,884
—
—
Mineral
-
Range
.s.Aug
July 1 to Aug 31
11,280
23,808
12,360 xdef22,420
24,560 xdef24,680
Toledo Peoria & West.-Aug
24,716
24,957
23,647
xdef4,987
23,837
xdef6,875
71,163 xdef20,889
—
September
July 1 to Sept 30
..a.
73,361
54,938
idef2,706 xdef14,472,
xdef30,213 xdef23,532
Year.
Cleve Painesv & E'n a.-Aug
Jan
*7,241
*15,298
*29,229
1
to Aug
31
48,985
283,526
Previous
Year.
44,928
265,362
Net Earnings——
Current
Previous
Year.
25,603
129,808
Year.
23,431
113,030
Consul Cities L P & Tr__Sep
Jan 1 to Sep 30
50,580
591,034
Sept
81,575
743,530
74,555
688,757
143,912
23,474
208,395
Railway, b—Sep
281,096
2,408,526
262,692
2,326,237
121,681
1,019,197
121,441
968,075
Mexico Tramways ..Sept
Jan 1 to Sept 30.
—i
604,744
5,116,331
587,734
322,195
2,736,228
316,183
2,629,116
Aug
508,894
3,952,979
470,227
153,808
3,706,508
1.107,289
143,965
1,073,175
Harrisburg
Jan
1
Louisville
Jan
xdef895
*def4,510
Earnings
Current
Year.
Roads.
Jan
—
—
Net earnings here given are after
deducting taxes,
b Net earnings here given
-_
-
July 1 to Sept 30-1—
-
___
— _
g
1
Rys
to Sept 30-
to
Sep
Milw Elect Ry &
1 Tr»
n
1
A
30
Lt_a<-
no*
5^1
49,367
579,959
5,008,432
17,726
Oct. 18
Earnings
Previous
Year.'
Year.
Roads.
■
1913.
Current
Year.
1912.
$
$
Asse/s—
150,026
947,460
131,833
816,484
62,418
350,915
54,694
289,847
Aug 1,185,275
N Y Railways a
9,357,550
Jan 1 to Aug 31-47,190
Northw Pennsylvania— Aug
250,441
Jan 1 to Aug 31--
1,165,082
9,111,740
347,981
2,948,712
351,050
2,761,412
44,461
227,190
19,520
70,863
23,166
68,725
680,206
5,478,301
723,529
Puget Sd Trac Lt & P a Aug
5,608,510
Jan 1 to Aug 31-145,974
Utilities Improvement. -Sep
1,281,840
Jan 1 to' Sep 30-_.
277,537
140,357
71,251
584,467
71,064
628,371
Wash Bait & Annap b-_ Sept
Jan 1 to Sept 30--
trustee
Int.
details
(see
Net earnings here given are after deducting taxes,
earnings here given are before deducting taxes.
These results are in Mexican currency.
b Net
g
and Can. P. O.
departments
Charges and Surplus.
Interest
-Int., Rentals, &c.—
Current
Previous
Year.
Year.
Roads.
-Bal.
Due
Current
Previous
Year.
Consol Cities L, P & Tr.Sep
Jan 1 to Sep 30
32,765
277,558
Sep
70,167
627,334
Milw Elect Ry & Lt-.-.Aug
Jan 1 to Aug 31Milw Lt, Heat & Tract.-Aug
Jan 1 to Aug 31—
Louisville Railway.
Jan 1 to Sep 30_
13,580
33,798
■
5,029,381
5,443,355
3,709,591
6,692,877
62,087
505,813
*93,953
*633,800
*55,355
*297,112
*222,175
224,031
*156,214
cons.
635,000
725,900
533,000
916,015
Profit and loss'.-
45,143,106
40,953,272
since Nov. 1907
153,113
1,220,273
146,610
1,164,536
160,394
1,063,006
24,431
216,498
23.459
202,349
*13,085
*105,036
♦This is the excess of other working assets
liabilities and deferred credit
other working
1,126,716
Wash Balto & Annap—Sept
Jan 1 to Sept 30
-
*14,877
*99,501
After allowing for other income
647,947,852 610,832,732
and deferred debit items over
items.—V. 97, p. 1018.
Total—
Total...--...643,947,852 610,832,732
*45,377
Puget Sd Tr Lt & Pow__Aug
Jan 1 to Aug 31
Erie
130,927
Railroad.
{Report for Fiscal Year ending
June 30 1913.)
of President Underwood, together
with the income and profit and loss accounts and the com¬
Extracts from the report
parative balance sheet for two years, will be found on subse¬
quent pages.
Below is published the usual comparative
statement for several years of the operations,
earnings,
charges, &c.
received.
ANNUAL REPORTS.
V
retired by s. f.
478,426
645,916
(net)*
1,785,293 *1,397,964 *1,235,790
*
27,510,280
M. bonds
*84,529
222,261
1,792,761
31-
30,729,340
newals fund
*157,354
66,000
Aug
N Y RailwaysJan 1 to Aug
852,789
Miscellaneous..
*614,058
54,517
456,493
750,000
1,024,375
fund3
St. P. M. & M.
581,634
52,395
415,384
—
561,206
21,557,737
from im¬
proves and re¬
80,536
65,415
500,486
— --
7,039,796
paid
receivable, &c.
items
.146,004
3,668,401
Add'ns & bett'ts
6,995,461
Adeferred debit
71,309
542,468
1,521,076
rate case
refunds..
accounts
Material & fuel.
302,401
cos..
Insurance
Oth. work, assets
16,602
i.
92,681
6,500,429
Bills receivable-
15,188
46,452
52,176
63,711
Minn.
Advanced chges.
Year.
9,852
79,232
10,415
83,356
12,744
.
192,807
S.
from U.
Other
Cleve Painesv & E'n—Aug
Jan 1 to Aug 31------
.
190,459
Transportation
of Net Earns.—
bond int.
affil.
Imp.&better. fd.
Depreciation of
equipment fund 23,600,526
Depr. of Allouez
128,166
Bay Ore Dock.
S.
from U.
Due
Due
77,087,517
12,829,425
3,509,867
93,338,149
Cash on hand..
5,117,633
Due from agents
4,173,201
210,000
146,004
2,952,020
8,090,424
subscrip's.
Acer,
on
_
2,722,460
2,762,445
2,768,642
accrued
on
stk.
subseq't page).
a
Accrued taxes.
109,114,810
bonds.109,114,810
investments
&
unpaid
Unpaid pay-rolls
Unpaid coupons
securities
Other
37,903
297,334
36,735
316,380
5,589,656
Vouchers
C. B. & Q. stk.
1,258,385
282,300,409
1,489,256
4,035,202
3,197,909
2,765,755
1,931,164
Bills&accts.pay.
14,106,000
14,106,000
Co3t of 34 int. in
held by
of joint
sub¬
sequent pages) .293,444,409
Bonds assumed—
heldbyM.trus.
and
Sec.
375,929,796
Ind."
&
"Ry.
(see
2,291,252
313,507
2,283,279
$
Funded debt(see
roads
details on
subseq't page) .400,253,362
system
.
v
in
investments
1912.
$
Capital stock..209,990,750 209,990,750
Payments
new
stk. subscrip's 12,958,546
and
advances
1913,
.
.
Liabilities—
Ry. prop., incl.
Milw Lt Ht & Trac.a--- Aug
Jan 1 to Aug 31-..
JUNE 30.
CONDENSED BALANCE SHEET
Net Earnings
Previous
«
Year.
Gross
Current
1107
CHRONICLE
THE
1913.)
OPERATIONS AND EQUIPMENT.
Reports.—An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. . This index will
not include reports in the issue of the "Chronicle" in which
it is published.
The latest index wrill be found in the issue
of Sept. 27.
The next will appear in that of Oct. 25.
; r
Great Northern
1,179
48,488
2,204
166
166
141
26,205,266
611,548,871
per mile.
1.579 cts.
1.574 cts.
carried— 40,987,993
36,961,686
25,454461
626,835,771
Below
give
we
Freight equipment
Service cars,
Floating equipment.___
Operations—
comparative statement of traffic statis¬
the several years and balance
sheet for two years.
■v':iyy-//-:7;
'■-'Tx
:'v ;
AND
1912-13.
'
7,244
7,020
8,168,364
8,362,189
547,843,549 590,566,237
2.487 cts.
2.273 cts.
Av. rev. per pass, per m.
2.503 cts.
27,543,172
23,070,655
♦Freight, (tons)
33,626,638
♦Freight one mile7634056,449 6227714,227 5357747,886
8,343,557
649,317,544
Average miles
operated-4
,
7,369
7,686
Op6TCLti07lS*~
"
•
' .
Passengers carried (No.)
8,595,073
Pass; carried 1 mile
-605,639,343
0.7653 cts, 0.7688 cts,635
601
Earns, per pass .-train m.
$1,496
$1,406
Earns, per frt.-train in.
.
$4..86
$4.62
Gross earnings per mile$10,238
$8,983
Earnings—
$
$
Passenger
15.158.5S8
13,623,009
Freight-—.58,426,236 47,877,369
Mail,.express, &c_
4,749,897'
4,417,729
Other thaii transportat'n
358,046
279,712
♦Av. rev. per ton perm.
♦Aver, train-load (tons)
— —
__
2.204 cts.
23,224,972
5678787,816
0-8096 cts- 0.8219 cts.
523,
41.383
$4.24
$8,456
$
13,422,057
43,379,174
4,173.73.)
•
282667
>
518
Fgt. (tons) carried 1 m_*
7,730,675
0.574 cts.
597
0.583 cts.
527
$1,317
$3,423
$26,342
$4.26
$9,183
•
$
14,311,800
46,675,734
3,214,934
262,902
"
6,823,560
mile..
$1,247
$3,076
$23,789
Rate per ton per
train-load (rev.) tons
Av.
Earns, per pass, train m.
Earns, per fgt. train mile
mile.
Gross earnings per
Earnings—
Freight,----.Milk.
0.599 cts.
521
495
$1,285
$1,257
$2,963
$23,273
•
'
$3,049
$23,762
937,110
412,164
1,736,683
__
1,791,100
Miscellaneous.-
902,766
14,608,742
9,623,116
421,820
1,533,596
1,401,301
10,215,256
-
Express.
0.585 cts.
*
1909-10.
1912-13.
1911-12.
1910-11.
$27,458,445 $25482,784 $24,071,522 $24,114,760
'
Passenger.
Mail
2,068
25,277,283
627,788,837
L507 cts.
1.566 cts.
38,763,600
37,570,662
6,414,732
6,825,582
,
—964,243
■_.*
16,887,294
-
1,436
'• EARNINGS AND EXPENSES.
15,865,027
9,817,956
431,348
1,444,556
1,286,875
865,927
14,295,370
9,459,963
431,803
1;437,272
1,225,625,
Earnings, Railroad-.$59,465,185
Earnings, Outside oper.
3,182,174
$53,708,469 $53,820,050 $51,830,720
earnings.
$62,647,359
Expenses
• v
1
Maint. way & structures $6,269,059
$56,492,370 $56,649,908 $54,866,190
Total
Maint. of
2,783,901
9,612,450
20,918,674 .'19,561,599
1,453,909
1,393,544
1,264,463
1,204,169
1,935,118
1,817,326
Transportation expenses
Traffic expenses.
expenses—
Taxes--—
2,829,858 .3,035,470
!
$5,929,926
equipment.10,799,070
General
,
171
'
Coal--.1-..
RESULTS OF LINES OPERATED AS GREAT NORTHERN RY.
THOSE INDEPENDENTLY OPERATED: MINNEAPOLIS
WESTERN RY. AND DULUTH TERMINAL RY.
1909-10.
1910-11.
1911-12.
.
49,758
Passengers carried
27,362,836
Pass, carried one mile_-647,026,l£7
.
a
1,429
1,229
1,461
1,254
49,461
2,636
equipment
detail, &c., &e.
tics and income account for
'
Locomotives
Freight (tons)
June 30 1913.)
The full text of the remarks of Chairman L. W. Hill and
President C. R. Gray is given on subsequent pages; also the
revenue and income accounts, the general balance sheet in
{Report for Fiscal Year ending
2,227
1,403
1,190
47,433
2,112
operated--.
^Equipment—
Rate per pass,
Railway.
2,265
2,257
Miles
Passenger
1909-10.
1910-11.
1911-12.
2,257
1912-13.
Annual
$5,720,900
9,164,917
18,467,380
1,400,210
1.096,484
1,390,380
$5,217,451
9,455,981
17,422,952
1,295,876
1,062,509
1,374,757
.
Expenses—Railroad-$42,640,293 $39,519,014 $37,240,271 $35,829,526
Expenses—Outside oper
3,506,466
2,989,239
3,005,030
3,236,046
Total expenses.
$46,146,759
Ratio of exp. to earns—
(73.66)
$42,508,253 $40,245,301 $39,065,572
(75,25)
,
(71.04)
(71.20)
earnings—Railroad.$13,318,426 $14,189,455 $16,579„779 $16,001,194
Net earns.—All opera'ns 16,500,600
16,984,117
16,404,607
15,800,618
Int. & divs. on securs—
5,147,900
3,799,697
3,183,774
3,527,091,
Rents, &c., received-..
985,911
945,742
757,288
806,929
Net
61,257,633
64,465,370
1,297,854
9,654,776
7.681,270
1,006\429
18,052,818
.1,205,099
11,773,314
7,520,634
922,104
18,068,666
993,378
37.662,548
• ',
(56 89)
28,535,271
115,859
37,600,392
(61.38)"
23,657,241
205,359
39,278,096
(60.93)
25,187,274
240,009
12,328,651
9,364,639
1,242,553
21,492,812
66,197,819
■;, ■ !'•'
9,220,286
• 7,854 687
1,089,710
18,200,011
1,430,600
expenses45,859,255
P. c. of e^ps. to rev„___
(58.28)
Net operating revenue.■_ 32,833,512
Outside operations, net,
121,523
.
Gross operating revs_ .78,692,767
Expenses—.
.
• 'v
Maint. of way & structs.
Maint. of equipment
Traffic
expenses
Transportation expenses
General
expenses
•
28,651,130
3,488,238
23,862,600
3,300,139
25,427,2S3
3,5/0,302
28,676,258
25.162,892
1.214,827
1,333,200
20,562,461
21,856,981
1,360.082
596,750
377,952
357,530
693",636
on
$9,714,161
747,039
793,988
$7 ,757,896
1 ,501,500
2 ,252,223
Hire of
Joint
-
equip.—balance
facilities
643,097
car
trusts
Operating income
General
interest
on securities
Divs. & int.
Hire of
Rents rec'd and miscel.
Gross corporate income
Deduct—
Rentals paid
Hire of equip't—balance
Bond interest accrued--
Deficit
int.
1,367,406
1,170,557
670,196
802,048
94.18S
723,990
31,884,417
28,870,497
23,337,471
equip't—balance
185,231
772,043
754,453
662,289
85,555
6,458,506
255,228
125,387
6,461",789
5,115^514
4,823,184
42,740
118,177
2,818,338
on
& Nav. deb. stock
Int. new stk. subscrip's.
209,320
Renewal All. B. O. d'ks
128,166
3,502",000
Approp. for deprec. of
steamship property.250,000
Divs. on stock (7%)
14,698,659
750,000
14,698,982
Total
deductions.,.— 27,602,249
*Balance, surplus
4,282,168
♦Company's freight excluded.
miscellaneous
_
_
_
Additions & improv'ts.-
568,299
643,388
737,087
958,177
1,339,737
$15,951,843 $15,934,805 $16,294,994 $15,065,182
$6,682,568
$2,794,751 $4,050,675
$5,069,456
Total
Balance, surplus..
—V. 97, p.
886, 1024.
Southern Railway.
{Report for Fiscal Year ending June 30 1913.)
President Finley, together with the de¬
comparative balance sheets and traffic statistics for
two years and the profit and loss account, are published on
subsequent pages.
Below are given comparative statistics
and income account for several years.
The remarks of
tailed
26,167,224
2,703,273
1912-13.
7,036
Aver, miles operated
-- = xx
14,698,590
23,337,471
—
14,698", 663
*
Equipment—
22,339,797
774,003
1911-12.
.
1910-11.
1909-10.
7,042
7,051
1,588
7,088
1,53
1,07
50,00
1,24
,
Locomotives
Passenger equipment.
„
_
Freight equipment
Road service equipment.
Marine equipment
..
980,646
448,587.
1,079,362
69,111
598,852
TRAFFIC STATISTICS, &C.
750,000
4,250,000
Refunds Minn. Rate case
Int. & renewal fund
668,295
810,499
509;716
Sinking, &c., funds and
2,319,158
guar,
of
Kootenay Ry.
under
582,452
998,868
512,862
860,426
586,002
878,506
657,588
Miscellaneous rents.
on
693,878
688,058
733,988
781,057
23,113,800
Total net revenue-..-
$8,670,766
1,033,125
2,251,799
745,988
notes.
Rentals of leased lines.
Interest
32,955,035
Taxes accrued-.- —4,278,777
$20,134,638
$9,749,801
Deductions—
Interest
Total
$22,634,411 $18,729,556 $20,345,669
Total net income
Interest on bonds
i,6ii
1,632
1,157
49,420
1,342
1,132
51,741
1,335
22
22
•
1,078
51,846
1,209
23
1108
THE
1912-13.
.
1911-12.
CHRONICLE
1909-10.
1910-11.
19,032,397
18,119,253
17,137,450
15,694,486
Pass, carried 1 mile
844,801,198 786,621,787 740,411,290 671,732,143
Av. rev. per pass.
p. mile
2.157 cts.
2.169 cts.
2.179 cts.
2,153 cts.
No. tons car. (rev. fr't.).
29,449,589
27,214,751
26,091,061
25,204,297
Tons car. lm. (rev.
ft).4577486,801 4206785,057 4088496,793 3985563,001
Av. rev. per ton p. mile.
0.982 cts.
0.987 cts.
0.966 cts.
0.957 cts.
Av. rev. tr. load
259.52
(tons).
250.04
240.51
237.46
Rev. per
1.15510
pass. tr. mile..
$1.14843
$1.18146
Rev. per fr't train mile..
2.1
$2.54811
2.46716
$2.27368
$2.32352
Operating rev. per mile.
$9,740
$8,972
$8,569
$8,127
*
Includes narrow-gauge equipments
1911-12.
'
Marketable see's
Material A supp
1909-10.
-7,042
41,508,300
17,266,014
4,816,015
39,498,964
16,348,404
4,497,695
63,590,329
Freight
44,943,748
Passenger
18,551,037
Mail, exp. & miscel....
5,034,705
68,529,490
60,345,063
57.294,508
$
9,275,553
Maintenance of equip.. .11,290,337
Traffic expenses-
Transportation
General
2,091,010.
...
23,605,046
2,008,977
expenses
expenses
7,841,220
10,108,673
1,745,353
22,081,654
1,919,337
,7,464,916
48,273,923
20,255,567
Uutside operations (net), sur 80,536
.
43,696,237
19,894,092
.64,755
19,376,245
2,212,968
18,677,742
2,027,104
Operating income.... 17,855,716
17,506,519
340,912
17,163,277
16,650,638
192
Taxes
'
383,791
5,073
2,923,160
53,946
t
sur
sur.18,980
3,026,810
181,513
21,221,686
21,086,961
48,214
50,951
1,865,927
934,687
180,701
60,043
1,783,328
prop's.
Miles
20,965,795
10,204,482
712,414
24,208,772
23,357,033
4,028,591
4,227,377
11,316,939
711,559
4,574,765
4,272,038
12,213,847
3,617,418
3,509,811
9,519.738
625,784
809,142
961,145
21,093,605
3,307,530
49,987
22,748,880
1,459,892
978,009
35,528
17,956,552
6,400,481
907,504
37,553
Operating income
4,822,403
Divs., int., rents, Ac.^— 1,947,653
St. L. I. Mt. A S. divs— 1,773.468
2,158,024
1,678,249
446,355
a1,306.247
4,455,424
al.099,372
2,660,195
1,752,602
8,214,991
Total net income.—
on
6.15
254.01
30.67
6-15
188.98
1910---
—
719.44
721.65
678.26
68.82
340.66
1.53
69.20
337.57
1.50
69.20
336.93
1.49
157.16
642.02
89.93
387.90
1.47
OPERATIONS,
EARNINGS, EXPENSES,
Total
">
939;
a
49.01
48.79
47.46
47.37
CHARGES,
'
1912-13.
1911-12.
1,609
1,325.85
Total.
1,368.44
1,369.40
1,324,03
1,325.85
&C.
1910-11.
1,548
$3.4233
$8,262
2,258,455
83,964,450
2.54 cts.
1.08 cts.
'
'
'
19il-12.
1912-13.
$2,667,123
9,864,489
594,189
171,149
—
Freight
Mail, express, &c_
Rev, oth. than from trap
$2,346,244
8,971,114
541,142
184,042
Total oper. revenues.
$13,296,950$12,042,543
Expenses**—*
'
'
■
Maint. of way Astructs.
Maint. of equipment...
$1,899,484
2,219,390
Traffic expenses
508,894
Transportation expenses- 4,039,413
$1.2303
$2.9330
$7,458
•
V
:
1909-10.
$2,439,004
$2,205,196
8;243,954
447,303
90,063
*8,866,846
472,071
110,116
$11,888,037 $10,986,516
\
$1,799,916
3,798,103
470,307
1,857,527
414,762
3,276,478
446,563
$9,215,797
$4,081,153
Total oper. expenses.
$8,419,415
$3,623,128
$8,146,057
$2,840,459
12,611
12,639
14,545
$8,578,155
$3,309,882
10,470
$4,068,514
468,697
$3,608,583
458,511
$3,299,412
369,292
$2,827,848
369,704
$3,599,816
$628,058
Net operating revenue
Outside oper .—net def.
deficit
Total oper. income
Hire of equip.—balance
Joint facilities
Interest
$3,150,072
$531,747
$2,930,120
$199,326
$2,458,144
$200,735
173,485
170,901
_
.
.
213,391
202,876
invest., Ac..
on
.
206,633
159,463
$3,457,004
$545,121
$3,003,265
$2,070,327
Total net Income
$897,843
$4,047,915
$1,728,836
$1,690,440
$1,690,440
121.700
165,138
65,945
121,700
88,850
25,000
315,191
Deduct—
Fixed bond interest..
Int. on 2d M. inc. bonds
held by public....
Other interest A miscell.
Rents—leased roads
■
Rents—joint faci's, Ac..
Total
Balance,
deductions....
surp.
for year.
P referred dividends
180,322
147,236
$1,044,325
$4,644,141
.
121,700
37,549
105,208
423,166.
$2,757,950
$1,886,191
278,009
33,800
8,173,828
7,935,760
6,029,975
7,803,717
sur.369,697def2*326,019def6,051,115sur2,185,01«
CST.
years
*
LOUIS IRON MTN. & SOUTHERN RY.—INCOME ACCOUNT.
1912-13.
1911-12.
Miles
oper. end of period
3,338
Earnings, from—.
$
Passengers..
6,587,418
Freight
25,219,772
Mail, express and misc.. 2,329,408
1910-11.
3,314
$
6,101,937
22,000,184
1,999,994
1909-10.
3,315
3,28$
$
6,308,050
20,382,287
1,877,484
5,510,805
19,367,143
2,038,943
34,136,598
30,102,115
28,567,821
26,916,891
5,448,933
4,636,178
4,094,409
9,951,378
646,455
858,567
4,409,367
4,011,483
10,531,561
683,695
944,950
8,386,175
20,186,987
(67.06)
9,915,128
1,118,500
20.581,056
(72.04)
7,986,765
50,554
61,005,780
17,618,363
(65.45)
9,298,528
59,531
6894,999
8,725,762
568,397
6,930,431
6503,309
8,343,998
6571,519
9,294,159
7,433,740
8,915,517
5,977,525
Rentals
706,731
Hire of equipment.__—
468,358
322,845
18,968
Sundry items
124,524
Dividends
—(4%)1,775.649 (4)1,775.649
5,383,356
6408,605
781,639
641,564
5,116,301
Total earnings..
jExpenses**—*
Maint. way A structures.
Maint. of equipment
5,006,518
10,719,358
Transportation
Traffic...i.—
681,520
811,283
General..
Total expenses
P. C. of exp. to earns
22,667,612
(66.40)
Net earnings
,11,468,986
Outside oper.—net deficit
53,595
Taxes
1,188,638
Operating income..—10,226,753
Divs., int., rents, Ac
515,946
Total net income-
Interest
on
10,742,699
bonds
disbursements__
Total
70,866
■
348,677
$2,430,296
$1,617,619
$526,884
$2,241,181,
,
121,700
62,362
25,000
287,297
$1,215,823
$2,186,799
$816,466
(5)$994,682(4>3)$895,214 (4)$795,746
(5)$994,683
6,537,509
789,135.
9,549,662
3,991,720
3,724,133
<675,141
841,194
346,928
6 Comparison of items marked
final results remain unchanged.
,
6295,834
352,274
63,852
(6)2,663,467
8,947,231
1,193,037
Balance, surpjus
6,615,164
818,576
"6" somewhat changed in later
MISSOURI PACIFIC RY.
8,431,728
483,789
years,
but
-
BALANCE SHEET JUNE 30.
*
1912.
1913.
Road A
Securs.
$
$
Assets-——
equip't_i54,554,504 153,021,416
pledged*110,192,460 117,772,000
5,980,933
Other investm'ts 25,505,524
Cash
503,151
cos.
unpledged
Securs. in treas.
Marketable sec.
Loans A bills rec
1913.
Liabilities—
910,500
378,683
64,270
7,438,159
25,528,276
1,477,667
427,500
331,800
82,245
$
Capital stock
83,251,085
Ind.
Funded
"Ry. A
See.") —162,896,500 164,357,500
debt in
1
treasury,
Loans A bills pay
Vouchers
1,932,105
382,963
1,968,505
4,562,290
4,500,803
662,227
73,177
230,833
169 J
,002
1,451,353
3,797,7
,739
Unmat'd int.,Ac
Deferred
credit
281,856
630,485
Profit and loss..
Traffic, Ac.,bals
Misc.
1,060,537
209,854
accounts.
Unmat'd int.,Ac
Advances
Special deposits.
Other
debit
Total
Misc.
Matur.
Other
...311,462,312 324,253,788
61,749,500
747,549
4,438,636
141,686
152,074
204,867
117,483
2,079,298
274,649
2,086,961
215,984
3-6,597,989
496,771
6,494,499
pay.
accounts.
int., Ac.
151,771
working
liabilities.
items
deferred
items—
Pay-rolls
Fgt. claims
50,932,500
705,562
425,000
3,947,151
Ac.
Traffic,Ac.,bals.
1,971,902
St.L.I.M .AS.Ry 1/4,034,780
Material A supp.
3,626,601
Agts. A conduc.
1912.
$, '
83,251,085
Fund, debt out'g
(see
Secur. of subsld.
—
Total net revenue
Taxes accrued
154,395
39,520
expenses, $112,349;
leaving net loss as above, $39,410.
Comparison of items marked "a" somewhat changed in later
$2,150,727
2,064,046
445,783
548,616
expenses.
151,913
2,009
480,371
266,194
a21,175
Outside operations (net) in 1912-13 include dining-car revenues,
$72,-
—
1910-11.
$1,477,069
2,172,269
479,154
3,744,143
546,780
4
General
1.04cts.
INCOME ACCOUNT.
'
Operating Revenue—
Passenger
169,438
207,963
627,860
O176.508
Disbursements—
♦Not including company's freight.
.
'
$1.3374
$2.9857
$7,995
$7,778
*
2.58 cts.
3,356,722
3,062,042
824,246,732 796,502,040
$3.1359
Gross earnings per mile.
1,473
2,487,970
94,397,308
do
do
1 mile_87l,985,756*835,722,979
Rate per ton per mile*..
1.13cts.
1.07 cts.
Earns, per pass, train m.
$1.4588
$1.3085
Earns, per fgt. train m.
1909-10.
1,487
Operations—
* 1
Passengers carried—2,586,534
2,380,366
Passengers carried ImilelOO, 170,761 <87,700,576
Rate per pass, per mile.
*2-61 cts.
2.62 cts.
Tons freight moved*._.
3,726,299
3,408,053
06,621,947 .05,108,313
_
disbursements—
or
5,609,741
7,434,011
189,940
exp
1,368.44
1,369.40
1,324.03
—
'
Average miles operated-
——
Miscellaneous
Surplus
1,773,468.
683,801,
,
7,741,794
238,119.
Interest and exchange...
Hire of equipment....—
Total.
340.32,4.05
190.69
190.69
1911——
.
30.67
8,543,523
1,099,519
727,085
but final results remain unchanged'.
Ballast and Bridges in Main Track June 30.
Rock.
Gravel, Cinders. Soil,&c.Bdges. Trestles.
Miles.
4.758,512
17,514,172
•
bonds, Ac—
Equip, obligation
—-
1913...
.
Disbursements—
Southwestern Railway.
1,024.25
935.71
8.95
.
.
Interest
.
1910
«
24,401,135
3,814,427
4,853,669
.11,809,090
743,648
810,551
.
—
52,373
92,688
Character of Steel Rail in Main Track June 30.
85-lb.
75-16.
70-/6. 60-/6.
56-/6. 35-/6.
8.95
1,050.83
30.67
6.15
271.84
8.95
1,036.49
30.67
6.15
287.14
8.95
3.883
.28,018,909
_u—-.
Total.
17,068,833
17,191,721
4,029,965
Louis
-
,
16,909,693
2,164,113
.■
General
The text of the report will be found at
length on subse¬
quent pages, together with the income account, profit and
loss account and balance sheet.
Below we give the usual
comparative tables for several years.
"
^
1912—
1909-10.
3,920
"...
17,246,926
2,180,222
.20,528,498
2,250,720
Transportation
{Report for Fiscal Year ending June 30 1913.)
1913
5,219,691
ACCOUNT.
1910-11.
3,916
2,130,451
Rentals
1911
1911-12.
4,21? ,227
.
Traffic expenses
15,561,837 *14,173,920
4,018,128
5,403,958
5,704,646
♦Comparisons with these items in 1909-10 are inaccurate, owing to
changes in the figures of 1910-11, the general results, however, remaining
unchanged.—V. 97, p. 888, 366.
Miles.
PROPER.—INCOME
3,920
—
.
St.
RY.
4,7ll,624
Total
226,808
..
...
operated June 30.
Maint. of way A struc..
Maint. of equipment
—
deductions—
4,402,585
Total—.111,443,596 109,451,930
22,031,385
Net earnings
5,987,524
Taxes
1,125,711
Outside oper.—net def—
*39,410
19,878,566
34,440
31,959
1,887,749
♦1,381,504
859,079
869,650
176,396
116,462
125,815
266,806
10,234,565 *10,533,324
667.229
602,346
226,808
226,808
226,808
Preferred divs
—
(5)3,000,000(4H)2700000 (2) 1,200,000
Additions & betterments
48,660
44,989
66,046
Miscellaneous
87,754
87,831
*
83,710
Total
PACIFIC
Earnings—
Passengers..
Freight
Mail, express, Ac
19,878,566
20,965,795
& O. stock
trust certificates
Balance, surplus
163,111
c4,873,539
funded debt sold and $37,334 miscell. net.—V.
97, p. 730,445,
1912-13.
M.
_
*07 through inc
Profit A loss...
Expenses—
1,005,140
167,633
Discount on securs. sold.
12,017
Int. on funded debt
10,105,357
Int. on
equip, oblig'ns..
706,810
on
on
MISSOURI
31,207
Rent of track, yards, Ac.
Divs.
Add'ns since June
46,811
1,281,746
385,045
on a
Deduct—
Sou. Ry. in Miss, deficit
Other road rentals
oper.
736,665
201,781
140,412
length
subsequent page.
The comparative results for the entire
system (including the Iron Mountain) were given last week
(page 1022).
Additional tables follow:
38,635,716
la,658,762
19,958,847
2,452,328
Separately
Def. credit items "
Missouri Pacific Railway.
{Report for Fiscal Year ending June 30 1013.)
1,436,776
18,934,426
1,752,090
20,336,103
2,480.387
revenue-
Total gross income
Taxes accrued..
1,063,863
320,765
285,258
companies—pledged, $2,573,995, and unpledged, $36,203, and St. L. So.
Ry. securities pledged, $12,504,333.
c After deducting $220,110 exting. of
9,876,729
40,926,790
19,418,273
def.42,028
Rents ^
Hire cf equipment
Divid. & hit. rec'd
Miscell. income
accts..
Int.,divs.,Ac.,accr
The report of President B. F. Bush will be found at
Total oper. expenses.
Net operating revenue..
Net
343,760
257,891
480,487
214,193
208,827
6,635,725
9,460,757
1,549,404
20,662,086
1,789,627
65,913,58*
950,881
947,205
Miscell.
16,393
10,033
111,443,596 109,451,9301
discount
Maint. of way & struct.
•
67,454,583
sec.)
Int.,divs.,Ac.,due
1,347,665
16,500,000
20,000,000
a After deducting reserve for
accrued depreciation of existing equipment,
$2,275,337.
5 Includes securities of proprietary, affiliated and controlled
Expenses—
.
Ind."
A
Vouchers A wages
701,834
Total
20,000,000
Bonds (see "Ry.
10,855
1,549,710
37,429
209,399
Miscell. accts..
911,251
Acer.int.,divs.,Ac
38,725
Advances.!...
1,964,397
Oth.def.debit Items 500,182
$
16,500,000
Preferred stock.
3,330,442
500,250
756,334
1912.
$
Common stock.
85,944,661
14,812,332
Traffic bal. (net)
Loans&bllls rec.
T
1913.
Liabilities—
$
equip..a87,580,628
Securities
515,114,532
Misc. investm'ts
11,103
Cash
1,554,656
Sec. held in treas
1,215,250
7,050
$
38,161,392
14,918,253
4,214,863
$
Total oper. revenues.
1910-11.
7,088
$
1912.
%
Road A
INCOME ACCOUNT.
7,036
1913.
i
Assets—
f 1.19335
1912-13,
xcvii.
CONDENSED BALANCE SHEET JUNE 30.
Operations—
Passengers carried
Miles operated, average.
Revenues—
[Vol.
Total
.311,462,312 324,253,788
*
Includes securities of proprietary, affiliated and controlled companies,
$59,760,460* arid securities issued or assumed, $50,432,000.
a; After
debiting debt discount extinguished through surplus, $2,129,
and loss on retired road and equipment, $178,175, and making miscellaneous
debits (net), $86,103.
y Since reduced by payment of $1,550,000. •
.
„
OCT. 18
ST. LOUIS
$
Assets—
Liabilities—
$
1912.
1913.
$
1912.
1913.
$
_
equip't.159,935,601 157,189,494 Capital stock... 44,396,574
Road A
Cash
2,837
Ind. Sec.")..139,445,120 135,116,025
23,120,520 Funded debt in
45,537
825,650
treasury, Ac.
2,673,387
809,600
10,537 Loans A bills pay
-
Special deposits.
200
228,089
conduc.
Material A supp.
Miscellaneous..
Advances
Misc.
229,335
85,592
1,769,315
77,503
Items..
274,384
sinking
Other
debit
.
3,792
,
8,964
4,562,290
£4,034,780
Oth. work. liab.
86,778
Matur. int., Ac.
1,411,269
Mo. Pac. Ry.-_
104,640
,
"
692,242
1,098,577
11,454
859,248
"
22,978
405,291
Def. credit items
Profit and loss..
19,600
6341,908
Profit and loss—
194,273,597 186,745,055
Total
194,273,597 186,745,055
Total—
accounts.
Unmat. Int., Ac.
securs.In
fund.
deferred
Cash A
56,631
830,315
51,227
Traffic balances.
Vouch. A wages.
1,092,257
2,008,304
556,956
130,134
Agts. A
A
"Ry.
(see
640,614
c2,638,387
200
— -
Secure. In treas.
Marketable sec.
44,396,574
a3,045,427 Fund.debt outs'g
pledged. a3,063,665
Secure, of sub.
cos. unpledged
1,900
Other Investm'ts 23,625,603
Securs.
Includes securities of proprietary, affiliated, Ac., companies, $3,028,605, and securities issued or assumed, $35,000.
b After debiting discount extinguished through surplus, $287,170; loss on
retired road and equipment,$193,916, and miscellaneous (net), $1,228,285.
c $1,722,222 since sold to reduce indebtedness to the Mo. Pac. Ry.
♦
Since reduced $1,550,000.
.
Note.—The company has also a contingent liability as endorser of
,
a
$2,583,400 discounted notes of the Texas &
payment of interest.—V. 97, p. 951.
Capitalization—Notes.—The various stock and bond transactions as of
July 1 1912, explained in last year's report (V. 95, p. 1037), are reflected
in the balance sheet.
Cumulative pref. stock of par value $15,000,000
was issued and
sold as of July 1 1912.
The $14,461,000 Income bonds
acquired as of July 1 1912, and income bonds or securities exchangeable
therefore, In the treasury or purchased during the year, of par value $179,550, total $14,640,550, have been retired.
During the year $2,438,000 of the Gen. A Ref. Mtge. bonds have been
delivered to the company.
On account of the unsatisfactory market, none
of these bonds has been sold, and, pending sale of these securities to re¬
imburse the treasury for past expenditures and to provide funds for the pay¬
ment of $650,000 short-term notes maturing in 1912, $2,000,000 has been
borrowed on short-time notes, the Gen. A Ref. M. bonds having been
pledged as security therefor. The 1st M. bonds of the Wadley Southern
Ry. Co. which were pledged as collateral for the $650,000 short-term notes
paid during the year have been returned to the company.
Equipment
trust obligations amounting to $408,000 and Greenville A Newnan
main
line and Upper Cahaba branch bonds, $60,000, matured and were paid.
Additions and Betterments.—These items, charged to road and equipment,
aggregated $1,020,708, including $560,217 (net) for rolling stock.
Equip¬
ment trust obligations amounting to $408,000 matured and were paid.
Physical Changes.—There were 15 miles of track relaid with 90 lb. new steel
rail and 16 miles with 80-lb. new steel rail; $53,401 were expended in adding
tie-plates, Ac., to track; 22.09 miles was ballasted with slag and 17.59
miles with gravel.
The timber-treating plant at Macon was completed;
which were accep-
Pacific Ry., w
cost in current year
Pass.-tr.
Service
majority of the
capital stock of the Atlantic Coast Line Railroad Co., namely
$38,853,445 of its $09,557,200 common stock and sundry
other securities as shown below.
It will be noted that the
company now has a profit and loss surplus of $23,536,576.
with the balance sheet of June 30
with those of June 30 1912 and 1911:
BALANCE SHEET JUNE 30.
,
■ecurities deposited with Safe
& Trust Co. of Baltimore
Railroad bonds
Other bonds
Railroad stocks
Other stocks
1910-11.
$5,562,360
532,381
2,942,685
36,127,601
175,000
540,413
,
20,000
10,000
$5,562,360
532,381
4,303,000
36,126,501
175.000
531,514
20,000
10,000
63,415
Deposit
a$5,562,360
5532,381
c3,160,005
;
(138,948,151
^
el85,063
Other assets
/540.548
Bills receivable and advances...
145,000
Notes secured by Washington prop..
—1
Deposits for interests and dividends. .
2,807
Cash
——20,034
Dividends accrued.
1,268,071
_
,
67,906
Liabilities—
' 999,018
...$17,640,000 $17,640,000 $17,640,000
Certificates of indebtedness, 5 %
5.000,000
5,000,000
5,000,000
Certificates of indebtedness, 4%---61,800
61,800
62,000
Debenture certs, of indebtedness, 4%
3,000,000
3,000,000- . 3,000,000
-
Div.
on
payable
-1 -
—
unpaid
Prairie Pebble Phos.Co.
stock & int. on certs,
Reserve acct.
Profit and loss surplus
Total
800,000
64,044
(7262,000
23,536,576
i.
—
63,415
67,906
262,000 ■:
262,000
23,121,496 22,454,839
$50,364,420 $49,148,711 $48,486,745
—
Securities Owned June 30
deposited
Securities
a
1913.
of indebtedness of 1897-1900:
'
Book Value.
Par.
Ati. Coast Line RR. 1st cons.
4% bonds.ll,250,000
1,550,000
3,008,000
C. 4% bonds..
Atl. Coast Line RR. 4% unified bonds..
Atl. Coast Line RR. of S.
'
,
Other bonds—
Dutton Phosphate Co. 5%-i
International Agricultural Corp.
„
'
261,000
3,672
$461,000
:«
5%— 2,167,500
d Railroad
Atlantic A
do
*
do
do
do
common
Nashville Chattanooga A St. Louis Ry__
/Other assets—
Colqm. Newb. A Laur. 5% certificates..
Sundry securities
$120,000
35,063
Reserve against stockholders' liability for
Prairie Pebble Phosphate Co.—V. 95, p. 1036.
595,475
334,054
223,919
413,814
209,373
309,632
560,815
220,289
284,331
13,854,872
13,932,153
12,907,788
12,052,756
2,020,951
2,577,254
421,029
1,843,881
2,351,625
415,828
1,745,023
2,182,967
1,882,225
2,036,096
4,845,230
466,698
397,613
4,199,247
495,243
377,013
3,684,769
494,807
9,020.093
(69.88)
3,887,695
77,856
8,474,910
73,483
9,923,262
(71.23)
4,008,891
68,590
3,603,391
598,538
4,077,481
625,504
3,965,551
560,125
3,647,617
3,004,853
3,451,977
3,405,426
3,106,998
-
Total operating rev-
,1911-12.
$
"
1,272
72,025
7,961474
3,025,847
•
Operating expenses—
'
Mamt. of way A struc
Maintenance of equip
Traffic expenses.
Transportation expenses
General
expenses
Total
4,837,723
468,007
10,324,964
-
exp.to op. rev_
(74.52)
Net oper. revenues
Net rev. outside oper—
3,529,908
P.
c.
op.
Total net revenue—
Taxes
^
-
.
Operating income
Other Income—
.
(70.32)
3,577,846
69,771
540,619
n
137,954
Rentals
150,671)
•
.
A
100,475
Hire of equipment
462,341
25,229
.-
3,730,853
4,194,773
368,407
730,182
a768,874
552,037
368,475
53,722
securities, Ac
on
40,088j
4,174,300
3,837,180
..
Deductions-
equip.(deb. bal.)_-
71",419
facilities
Interest on bonds.
unfunded debt..
on
pref. stock (6%)
stock (5%)
on
on com.
110,330
*1,927,842
25,342
4,049
900,000
250,000
3,657,389
73,464
Total
Balance, surplus.
*
$185,063
Interest on income
65,546
103,862
3,835,964
a3,598,867
1,900,196
26,287
10,492
-
'
2,528,580
1,666,193
-
3,835,964
1,216
3,598,867
575,433
bonds, $22,568, was charged in 1912 tQ
profit and
$17,973, has been charged in 1913 against
orders of the Inter-State Commerce Com¬
a Comparison of items so marked is in¬
accurate,, the figures having been somewhat changed in later years; the
general results, however, remain unchanged.
.
interest on income bonds,
income, in accordance with the
mission, effective July T 1912.
$467,250
——
127,250
...
g
629,093
"
$150,000
70,000
»
8,887,839
3,777,488
1910-11.
1,915
$
8,308,919
3,484,389
.
Other than transport'n.
Div.
•
Charleston A Western Carolina Ry. secur
$1,915
8,803,117
3,828,199
682,539
206,963
Operating revenues—
Freight revenue
Passenger revenue
Mail, express A miscell.
Other transport. revenue
Div.
Other
1909-10.
1,9:16
1,924
Average miles operated-
Miscellaneous
43,606$38,948,151
48,000
Westinghouse Air Brake Co
YEAR ENDING JUNE 30.
1912-13.
Miscellaneous rents....
$50,000
.
1,915
.
INCOME ACCOUNT FOR
Hire
$50,000
149®
157,800
36,072,800 38,695,645
stocks—
Old Dominion Steamship ,Co
e
Earns,
Joint
RR——LlOO
Co. class "A".-.
157,800
1909-10.
1,916
1910-11.
1,915
m.839,528,685 793,902,844 758,229,638 744,546,658
1.069 cts.
1.096 cts.
1.049 cts.
1.120 cts.
255
264
278
256
$2,731
$2,890
per fr't-tr. load._
$2,912'
$2,870
$0.8657
$0.9714
per pass.-tr. mile
$0.9833
$0.9961
$6,291
$6,739
per mile of road.
$7,201
$7,276
Total income.
Stocks—
South Carolina
RESULTS.
1911-12.
Lease of other roads.—-
60,000 $3,160,005
338
264
10422 10230
408
396
Rate per ton per mile—
Aver. rev. (tr.-load)tons
$532,381
762,680
1913
265
Rev.fr't(tons) carr. 1
Int.
North Carolina
Atlantic Coast Line RR.
.
Rate
Rev.
_
$278,200
2,059,125
829,000
60,000
322
310
312
eq.4892) 9462/10343 10572 10401 10224 10203
equip-- 148/
I
355
344
339
328
346
Miscellaneous
*
c
Amalgamated Phosphate Co. 5%.
Sisal Hemp A Development Co. 6%--,
258
251
4,329,447
5,258,945
4,894,447
mile..176,588,453 178,233,141 166,223,927 144,495,712
2.094 cts.
per. pass, per mile.
2.168 cts.
2:120 cts.
2.096 cts.
4,973,801
freight (tons) car'd 5,712,117
5,375,309
5,165,488
Int.
$65,761
201,958
28o,000
4,000.
1912
1911
254
315
227
^
•
$1,245,000 '
1,550,000
2,767,360 $5,562,360
.
'
$81,600
318.000
bonds—
South Carolina Pacific Ry. Co. 1st 6%-Colum. New. & Laur. RR. Co. 1st 3% —
North Western RR. Co. of S. C. 4%,—
Atlantic Coast Line RR. consol. 4%
Northwestern RR. Co. of
316
229
r
Co. of Baltimore as
with Safe Deposit & Trust
security for $5,061,800 certificates
b Railroad
292
230
1910
1909
252
206
Pass, carried one
\
.,
Capital stock
Bills and accounts
1908
211
__
equip.
Average miles operated.
1,924
Oper. (rev. traffic only)—
Passengers carried
5,196,886
.—.—..$50,364,420 $49,148,711 $48,486,745
-
1907
1912-13.
Earns,
159,065
2,009,335
1,165,521
—
Total-
1906
OPERATIONS AND FISCAL
Earns,
1911-12.
1912-13.
Assets—
35.31 tons; total capacity,.361,265 tons.
1896
(see details below) a
1913, which we compare
added and one destroyed; net increase 16
tons in tractive efficiency; 126 freightAc., net decrease 190 cars.
Average
Freight-tr.
(Balance Sheet of June 30 1913.)
We have been favored
,
,
.
.
.
were
capacity of cars owned June 30,
Locomotives
Atlantic Coast Line Co, of Connecticut.
$42,839.
Seventeen locomotives
locomotives, with an increase of 410.9
train cars were added, 316 were sold,
Equip. J'ne SO.
ted in
This company owns
with the
1913. to deductions from gross corporate Income in accordance
requirements of the Commission.
SOUTHERN BALANCE SHEET JUNE 30.
.&
IRON MTN
1109
CHRONICLE
THE
1913.]
$540,547
claim to certain lands
of
BALANCE SHEET JUNE 30.
"
1913.
Central of
Georgia Railway Company.
{Report for Fiscal Year ending June
Pres.
C.
H.
30 1913.)
substance:
Markliam, Chicago, wrote in
converting yard track at Fort
Valley, Ga., into Perry Branch main line, and taking into account trackage
rights heretofore omitted, 10.24 miles, making miles operated June 30
Road.-—There has been added, account of
1,924.
freight revenue, an increase
and an increase of $36,490 in other trans¬
portation revenue, making a net increase of $2,479.
The freight traffic
is generally satisfactory, but the movements of cotton, cotton seed and its
products have shown heavy decreases, on account of an unusually poor
cotton crop in the territory served.
The loss of revenue in these items
Results.—There
was a
decrease of $84,721 in
of $50,710 in passenger revenue
$
1913.
1912.
$
Assess—
.
.
equip—<*57,419,125 56,844,876
Stocks of prop'y,
:
256,150
affll.Acontr.cos.
256,150
6,774,681
Other investments 66,762,387
Road &
Bonds
pledged—
Cash
...
2,438,000
5,000,000
Common stock
41,170,450
52,083",665
1,065,000
Loans A bills pay.
220,214
1,473,000
526,482
balances._
314,003
1,624,373
49,150
87,525
127,312
Vouchers A wages.
165,885
1,108,399
Oth. work, liabil—
Agts. A conduc'rs.
Material & suppl's
154,095
1,642,438
Other work, assets
569,372
Accr'd int., Ac—
58,897
Advances
778,979
Oth.def.deb.items.
180,478
$
Equip, tr. oblig's.
Bonds..
1,420,452
_
1912.
5,000,000
Preferred stock.15,000,000
1,081",582
Secur .held in trea s.
Traffic balances.
$
Liabilities—;
Traffic
234,816
1,426,103
Int., divs. A rents
unpaid
529,885
48,062
Accr'd
755,230
137,040
Def.
303,886
128,226
323,612
184,794
int., divs.,
rents A taxes
credit items.
Approp. surplus..
Profit and loss
917,713
674,299
238,455
3,856,511
c2,007,427
218,392
3,856,511
1,798,883
amounted to about $600,000.
Expenditures for maintenance of way and structures increased $177,070,
or 9.60%.
The total number of cross-ties renewed was 770,719; 16.824
miles of track were relaid with new steel of the same weight.
Maintenance
of equipment expenses increased $225,630, or 9.59%.
Charges for de¬
preciation of equipment amounted to $463,840, an increase of $31,797.
Average age of locomotives, 14.3 years.
Other income and deductions from gross corporate income for 1912 have
been re-stated as between the two accounts, to correspond with the accounts
for 1913, as prescribed by the I. C. Commission, effective July 1 1912.
After paying dividends Nos. 1 and 2 at the full rate or 6% on the $15,000,000 of (new) pref. stock, there remains from the operations of the year
a surplus of $323,464.
" Annual dividend on ..the
$5,000,000 common
stock, at the rate of 5% per annum, aggregating $250,000, was charged to
profit and loss.
Interest on income bonds, $22,567, was charged in 1912
to profit and loss; interest on income bonds, $17,972, lias been charged in
Total
.71,846,258 67,799,892
Total
71,846,258 67,799,892
Includes investment in road June 30 1907, $45,679,120, and in equip¬
improvements since June 30 1907 to road, $4,443,420;
equipment, $1,675,222; less reserve for accrued depreciation, $2,722,885.
6 Other investments in 1913 include advances to proprietary, affil., Ac.,
cos., $17,683; physical property, $376,153; securities pledged under col¬
lateral trust mtge. (Cent. RR. A Bkg. Co. of Ga.), $4,838,352: other se¬
curities pledged, $663,351; securities unpledged, $866,848.
c After adding
$160,000 received on account of express traffic previous years, $549,780
special deferred dividend from Ocean S. S. Co. of Savannah and sundry
adjustments (net) of $87,677, and deducting $662,377 for retirement of
income bonds; and miscellaneous adjustments (net), $39,087.—V. 97, p.
666, 886.
•
a
ment, $8,344,248;
to
1110
THE
CHRONICLE
-Chicago
■
Terre Haute & Southeastern Railway.
{Report for Fiscal Year ending June 30 1913.)
Pres. M. J.
New
Carpenter, Chicago, Sept. 15, wrote in subst.:
using
our equipment last fall and winter for their business instead
of re¬
turning the equipment to us.
In the meantime our coal operators who
needed the equipment lost the sale of the coal and this
company was de¬
prived of the revenue therefrom.
This is a great evil.
Repairs to our cars
while on foreign lines increased $53,000, being
charged to our operating
expenses, whereas the rental of the cars is credited to "income."
The in¬
creased cost of engineers, firemen and trainmen was
$23,000, on account
of advance in wages, with
comparatively the same earnings.
Flood, &c.—On March 23 a cyclone damaged our shop at Terre Haute,
immediately following came, the flood.
Our net loss from cyclone and
was not less than
$125,000.
Coal Mines.—In the Clinton coal district six new
mines, all of which will
be large producers, are practically
ready for operation.
They will be op¬
erated by the owners, successful operators in that field.
Additions and Betterments.—During the year 18miles of rails were laid
to mines and industries; four new track scales were
installed; two interlock¬
ing plants were installed.
We completed filling the trestle at Donovan,
111., using 90,000 cubic yards of earth.
We filled 924 lineal feet of trestles
and installed 82 feet of steel girders in
replacing wooden trestles; 2,750 tons
of new 80-lb. rail were purchased and
placed in main track.
The trouble¬
some cut near Danville has been
improved by excavating for a distance of
2,100 ft. with steam shovel and laying a large drain tile the entire length.
Gasoline motor cars have replaced most of the old hand cars.
About 5,000
anti-rail creepers have been placed on track,
Six stalls were added to the
and
flood
,
roundhouse
West
at
Clinton.
We
have been
obliged
to
purchase
property in the vicinity of our new northern terminal at Harvey Junction.
We have also expended large sums for branches and
spurs in the new coal
district.
[Total cost of additions and betterments, excluding equipment,
was $419,666,
against $166,947 in 1911-12, including, respectively, for
spurs and side tracks $224,991, against $67,989.]
Equipment.-—1The Southern Indiana RR. had a large number of 30-ton
cars, and it has been necessary to purchase sufficient equipment that is
self-clearing and of large capacity to place us on a parity with our competi¬
tors.
In addition to the 1,000 freight cars referred to last year (V. 95,
p.
1118), all of which have been received, 900 all-steel 50-ton centre-dump
hopper cars were ordered and 750 were received.
We have also received
since June 30 five additional superheater road locomotives and two
large
switching -locomotives.
[Total
new
equipment,
$1,820,457,
against
$770,685 in 1911-12.]
We now have sufficient equipment for some time
to come and are well prepared to handle a largely increased business with
comparatively small capital expenditures.
[Locomotives owned June 30
1913, 66; cars in pass, service, 37; cars in freight service (incl. 7,358 coal
cars), 9,110, increase for year, 1,773.]
Lease.—Since the close of the fiscal year a 99-year lease with the Balti¬
more & Ohio Chicago Terminal RR. has been agreed
to, through which
lease your company uses 12.47 miles of that line, through Chicago
Heights,
north to Harvey Junction, which point is within the
so-called'"Chicago
Switching District," and permits this road to make rates to and from Chi¬
cago direct, and also reduces our switching charges. '
[There were issued during the year (a) $810,000 5% equipment trust gold
bonds dated April 1 1913 and payable in 20 semi-annual installments, on
account of 900 all-steel self-clearing hopper cars, of 100,000-lbs.
capacity
and 13 caboose cars,
(b) $1,100,000 time loans secured by pledge of $1,448,000 First & Ref. M. bonds, additional to the $3,950,000 of such bonds
shown in balance sheet.]
RESULTS FOR YEARS ENDING JUNE 30 (A VERAGE MILES OPERATED 359.)
1911-12.
1912-13.
1911-12.
Statistics (see note)
$
Pass, carried..,
710,228
Pass. carr. 1 m. 10,904,798
663,013
10,324,618
General expenses
95,434
89,394
Av.rec.p.pass.p.m. 1.933 cts.
1.977cts
Total expenses
3,245,563
3,151,339
Tons 1 mile...-.274,238,428 250,168,091
Net oper. reven.
Hire of equip.,&c
1,501,630
427,921
490,352
1,295,076
532,285
$
Expenses (con.)
Rev. tons carr'd
Av.rec.p.ton p.m.
Earnings—
0.609 cts.
1,671,112
1,579,586
$
332,964
0.631 cts.
Freight....
Passenger
210,816
47,624.
:
Mail, express, &c
Gross corp.inc
Deduct—
204,145
918,273
865,249
120,000
104,400
7,608
542,560
5,635
504,813
.....(2K) 144,977
(2)130,000
Taxes...
43,630
Total..
Fixed bd.,&c.,int
Int.
on
income
1,929,552
Expenses—
1,827,361
332,289
402,569
269,944
•
Maint. of way,&c
Maint. of equip.
Traffic expenses
'
37,308
Transportation.
bonds
«
309,255
35,926
590,557
634,029
Total deduct's
Balance, surplus
.
,
i
V
.
i
815,145
103,128
■
...
744,848
120,401
Note.—Passenger earnings and all passenger statistics-are based on 206.79 miles
only, the coal branches and a portion of the mileage in Illinois having no
of road
passenger service.
CONDENSED
GENERAL
1913.
AS8CtS~~m~*
BALANCE
$
166,945
10,000
Bills receivable
54,776
43,379
50,258
311,952
92,401
Agents & conduc's
Miscell. accounts.
Materials & supp.
Inc. bond interests,
Oth. def. deb. items
,
300,360
Unextlng. discount
on 1st ref. bonds
4
-V. 97, p.
debt (see
"Ry&Ind" sec.) 18 ,337,000
Equip't bonds
810,000
Traffic, &c., bals.
2,467
10,001
Vouch.& wages
Loans '& bills pay-
28,236
41,600
91,273
228,902
..
•
355,402
17,000
1, 100,000
Matured interest.
26,183
Miscell. accounts.
10,035
Unmatured hit
'
253,267
65,960
Pullman
18,337,000
19,375
1,298
258,645
Secured time loans
........
1024.
4,300,000
Bonded
Def. cred. items
Total
25,558,983 23,296,264
....
$
4, 300,000
10,387
16,620
84,055
1
94,841
168,732
80,202,
272",737
25,558,983 23,296,264
.
Company.
-
{Report for Fiscal VYear ending July 31 1913.)
■
'
•
RESULTS FOR FISCAL
r
1912-13.
YEARS.
1911-12.
'
.1910-11.
1909-10.
Total revenue
-*$42,860,891 $40,219,748 $38',994,610 $38,880,805
DisbUTS€17l(lTltS~Operating expenses.__.$22,633,919 $22,608,178 $23,043,701 $20,839,570
Deprec'n of cars, &c—
5,729,099
4,859,098
4,477,434
3,761,502
«.
_
Reserve
for
further
preciation of
Paid
other
de¬
cars, &c_
8% div.
Total
Surplus
*
on
3,000,000
2,000,000
356,766
9,599,506
9,599,460
sleeping-car
associations
capital stock
324,014
333,443
9,599,336
346,236
*8,798,996
disbursements.$41,319,290 $39,390,750 $37,453,914 $33,746,304
$1,541,601
$828,998
$1,540,696
$5,134,501
Also in April 1910 20% to distribute surplus.
V. 90, p. 506, 854.
1913.
1912.
$
%
Assets—
Total
...158,543,773
Total number of
ears
150,885,992
1913.
Liabilities—
Capital
Acc'ts
for
$
120,000,000
7,248,418
de¬
preciation and
adjust, acc'ts. 28,493,589
Surplus July 311
4,425,983
Total
1912.
$
stock.. 120,000,000
payable.
5,624,201
Reserve
Hartford
Railroad.
of the controlled
companies:
N. Y.
Westchester Si Boston Ry.—Connecticut Co.—Rhode Island Co.
[The Rhode Island Co. operates the trolley lines controlled in Rhode Isl¬
and; see page 84 in "Electric Railway" Section of
Sept. 1913.
The Con¬
necticut Company
(wholly owned) operates onder contract all the street
railway companies in Connecticut owned and controlled by the N. Y. N. H.
& Hartford RR.
Co.; see page 84 in "Electric Railway" Section.]
N.Y. W.&B.
11992--323
Freight
Passenger
1912-13.
.«
$
$
4,091
268,918
3,607
_______
All Other trans. rev___
Other than trans
Misc., incl.
and
—Connecticut
1912-13.
Oper. Revenue—•
Co.
1911-12.
$
224,019
"
Rhode Island Co.—
1912-13.
1911-12.
$
$
314,804
230,644
213,417
7,904,805 7,582,025 4,900.951 4,649,064
127,404
122,907
61,131
57,487
107,611
101,670
129,921
125,038
12,412
light
gas,
water
Total revenue.
289,028 8,454,625
8,030,621 5,322,647 5,045,006
Maint. way, &c
Maint. equipment
105,477
34,168
Oper. power plants
Oper. of cars
278",432
General expenses..,
Miscell. expenses
35,084
15,781
972.974
430,069
410,061
630,433
349,130
435,996
932.975
486,053
529,955
1,877,615 1,256,349 1,198,528
562,485
495,341
517,836
135,818
119,494
106,474
Operating Expenses—
Total
995,973
655,669
976,981
1,954,971
632,559
155,550
9per. exp____
468,942 5,371,702 5,112,300 3,136,437 3,198,850
,__def.l79,914 3,082,923 2,918,321 2,186,210 1,846,156
Net earnings
Other income.
Total
9,536
62,078
62,541
134,336
105,605
496,824
449,247
rentals, &c_.1,130,016
Dividends
1,039,155
1,500,000
1,012,539
Balance, sur.—def.1,406,000
109,022
1,519,076
Interest
x
______
The
1910
94,933
income___.def.170,378 3,145,001 2.980.S62 2,320.546 1,941,089
Taxes
operations of the Gas Light &
(?)
Watei- Co.
425,176
378,4S7
1,225,319 1,175,003
581,130
(?)
88/921
387,599
departments from March 1
included in the income account of the Housatonic
Power Co.
Central New England Ry.
are
Operating
Net (after
Other
Int.,
Dividends
Revenue.
Taxes).
Inc.
Rents.,the.
Paid.
$3,708,971 $1,619,214 $54,250 $759,048
1911-12.--- 3,468,626
1,584,044
39,324
809,683
Balance,
Surplus.
$914,416
813,685
Fiscal Year.
1912-13
___
-
Neio England Navigation Co.
$3,324,002
$1,336,676 $1,855,000 $132,326
Hartford Ac New York Transportation Co.
$1,157,338
$122,119 $51,132 $108,966
$75,000df.$10,714
1,184,029
222,687 161,619
78,508'
(?)
305.798
1912-13
_______
Housatonic
Power
Co.
$549,419
$239,184$401,14S $520,574
$120,000 def.$243
681,617
306,229 299,987 $482,511
(?)
123,705
[Includes operations from March 1 1910 of Gas Light & Water
Depart¬
ments formerly operated by the Connecticut
Co.—see above.]
1911-12—
—
New Bedford
Martha's Vineyard Si
$209,470
$33,022 "
196,412
13,153
.
*
$979,068
884,743
1911-12
1912-13
$370,101
356,079
Berkshire Street Railway.
$71,371
$1,430 $164,663.
201,695
New
Nantucket Steamboat Co.
$7,392
$8,502
$17,128
4,766
(?)
8,387
3,040
1912-13—_
$75,516
...
Stamford Railway.
$49,784
'$407
$86,748
84,518
416
Westchester
$242,508
240,636
.__df.$9t,86t
39,749
164,986
York Si
Street
$221
178
$10,677
7,483
__df.$?6,557.
RR.
df.$44,29S
def.7,235
Millbrook
78,929
—
6,005
~
———dt$54,754
df. 14,540
Co.
def.$2,04l.$177,103
______
def.$179,144
New
1912-13.---$4,916,724
'
1912-13—_-|Q2q$'697
Distillers
England Steamship Co.
$523,154 $58,652 $936,876
Westport
•
$5,830
Securities
Water
$9 •
Co.
'
$8,563
df.$355,071
;
df.$2,724
Corporation, New York.
{Report for Fiscal Year ending June 30 1913.)
Change
in Method of Accounting.—Our consolidated statements have
•heretofore included the manufacturing and producing companies'
accounts
as a whole
(inter-company accounts being eliminated), but not the accounts
of the distributing companies, whose
capital stocks were all owned by the
manufacturing or producing companies, the value of these stocks being
shown at the original cost of their acquisition.
The product of the manu¬
facturing companies was also billed to the distributing companies at a
price which included a reasonable manufacturing profit, but a profit that
in many cases was anticipated and was not in fact realized until the
goods
were actually sold and accounted for by the
distributing companies.
The balance sheet herewith presented includes the aggregate total of
the
current liabilities of the several distributing companies and also their
actual
gross assets, as well as those of the princioal manufacturing and
producing
companies.
This change is naturally reflected in the increased volume of
.
the various
assets
and liabilities.
'The income account., also, for the late fiscal year shows the actual
manu¬
facturing profit realized upon merchandise that has been charged out to the
distributing companies and has by them been sold sand accounted for.
On behalf of the old method of taking into the income account a
reason¬
able anticipated profit from goods billed to the distributing
companies", it is
contended that the Inventory price has been
substantially less than the
prices which would have been obtainable from any independent distrib¬
uting source, and that therefore the manufactured product could at all
times have been sold to the trade at prices equal to, if not
considerably in
excess of,
the billed price to the distributing companies.
Furthermore,
during a long period of years the distributing branches have realized an
average price equal at least to such billed price.
Balance Sheet.—Since June 30 1913 the liabilities shown in the
balance
materially"reduced, and it is expected that there will be
greater reductions in the next few months
A very large amount [$4,954,505] has been written off from
surplus in
order to bring all the combined current assets to a basis which shall
compiy
with the most exacting theory of valuation.
A valuation amounting to $2,923,704, or $25 a .share, has been
placed
upon the common stocks of the U. S. Industrial Alcohol Co. and of the
Cuba Distilling Co.
In determining this valuation due consideration has
sheet have been
still
been given to their real intrinsic value and to the fact that the U. S.
In¬
dustrial Alcohol Co. has a large surplus and that the avergae
quotation for
its stock, which is listed on the N. Y. Stock Exchange, is
considerably higher
than this valuation; and also to the fact that the Cuba
Distilling Co. is
a successful business and has likewise accumulated a large
surplus.
Results.—In some respects the operating conditions of the
past vear have
been the most trying in the history of this corporation.
Competition has
been keen and trade conditions unsatisfactory; in the
doing
BALANCE SHEET JULY 31.
Cars, real est. &
oper. supplies 121,632,435 107,448,698
Cash
5,461,96811,893,524
Securities
9,163,910
9,214,167
Mfg. dep{._
20,136,408
20,136,408
Acc'ts receivable
2,149,052
2,193,195
&
Sec.-Treas. T. H. Wentworth, Oct. 7, wrote in substance:
1912.
$
stock
Profit and loss...
Total
1913.
1913.
Capital
Taxes accrued
64,600
30
Liabilities—•.
',H
equip't_24,204,502 21,957,903
Miscell. securities.
127,059
376,628
Cash..
132,751
495,761
Traffic,&c., bills.
JUNE
11912.
$
Road and
Secure, in treas.*.
SHEET
Haven
The
1911-12--__
_
Rents
.
New
annual report, cited
quite fully last week (pages 1020
to-1022), gives the following information as to the earnings
1912-13
1912-13.
York
xcvii
{Earnings of Controlled Cos.—Years ending June 30 1913.)
Results.—The large amount of income from hire of
equipment ($465,157,
being an increase of $160,342 over 1911-12) was caused by connecting lines
new
[Vol.
spirits department
especially has this.been felt.
Under the spur of this competition, however,
gratifying results have been achieved in widening our distributing field
and reclaiming and obtaining trade.
That the season just closed has not
shown a loss in actual operation in the spirits department is due in a
measure to
20,753?193
2,884,381
.158,543,773 150,885,992
owned and controlled, 6,936.—V. 97, p. 669.
large
improvements and economies in operation and distribution.
Re-valuation, SiC.—We bave now charged off all of the
mapy expendi¬
tures made from time to time during a long period of years in the
organiza¬
tion and conduct of various distributing agencies and the
development of
the companies' business and the nrotection of their brands
and trade¬
marks (expenditures chiefly carried in a business extension
account) and
accumulation of items of
also the
for excessive outage
CHRONICLE
THE
1913.]
OCT. 18
doubtful and suspense
completed an
inventories
Deloitte, Plender, Griffiths & Co. have during the year
extensive audit of the companies' books and business.
All
have now been valued at the actual manufacturing cost to the parent
com¬
of insurance and interest for carrying the same.
include whiskey of many different ages, and have, it is
believed, a market value of at least $2,000,000 in excess of
June 30-_.
operations
Express privileges (dr.)
Mileage operated
Gross
conservatively
their inventoried price.
Outlook.—The revenue derived from
June 30 1914 will be ascertained upon
Administrative
sales made during the year ending
the basis of this new revised inven¬
have no doubt will necessarily show
16,010,198
14,483,415
10,995,791
Net
$2,016,026
9,926
$2,542,847
def.1,506
$2,363,750
27,065
Total net revenue
$2,025,952
357.202
$2,541,341
356,764
$2,390,815
$1,668,750
31,783
1,184,577
20,251
$2,141,906
$1,700,533
1,344,893
$2,204,828
1,236,846
$2,153,771
1,336,121
$3,441,674
$3,489,892
operating revenue
Outside operations (net)..-.;
Changes.—Announcement will shortly be made of con¬
changes which should prove most beneficial.
EARNINGS,
EXPENSES, CHARGES, &c.
1912-13.
profits
Gross
1910-11.
1909-10. ■'
Taxes accrued.
3,046,165
2,641,780
3,04*3,279
2,723,980
Operating income. _.
Other express income..
729,834
187,317
.
1911-12.
338,897
340,696
144,710
79,295
115,667
296,086
316,409
333,232
"116,797
79,568
96,969
225,191
301,358
Deduct—
Int. on notes
and loans.
Taxes
Rentals
-
maint...
Additions and
Administration, &c., exp.
Total
158,111
74,527
133,084
225,446
307,693
....
Insurance
132,711
287,992
329,314
^,310,128
Gross
bonds.
Dividends
_
">
'•
'*
'
■
• ,y
.
account, $44,187,852; sinking fund and insurance
fund assets, $85,779; total
$44,273,631
Cash, $1,785,213; accts. and bills receivable, $6,196,582; total.
7,981,795
Merchandise, materials and supplies (estimated market value
at least $2,000,000 in excess of. this amoxint)
9,705,636
Investments, common stocks of U. S. Industrial Alcohol Co.
and Cuba Distilling Co. at their estimated actual value
[$25 a share], and miscellaneous stocks at cost)..
4,220,307
Property
Total
Liabilities—
10,000
10,000
16,532
{Balance Sheet July
press
cDef. debit items.
in
EACH SIDE
667,572
Investments.
Real
estate
mortgages
Notes & accts. receivable.
Prepayments
Total
...
739,391
32,749
1,041,325
& Cash.
a
Accounts
pat¬
and
inventory,
$4,837,906;
On
inventories
On notes & accts. rec._
Other reserves, &c
reserve,
One-third represents active material for new
490,174
117,640
102,885
1,960,040
2,371,110
205,852
306,201
$2,371,110; net, $2,466,796.
models and two-thirds active
repair parts for new and old models.
b The reorganization committee and the receivers of the predecessor
companies together hold $444,698 cash, in addition to the sum of $1,041,325.
The balance, if any, of this $444,698, after their requirements, will be paid
over to this company.
•»
*
Company incorporated Dec. 31 1912.
Dividend on 1st pref. stock
cumulative at 7% per annum from Jan. 1 1913.
No dividend declared or
paid.
Total auth. stock issues;
First pref., $13,000,000; 2d pref., $11,$670,864 1st pref.; $822,864
000,000; common, $13,000,000.
In treasury:
$192,318. "See V. 96, p. 1559.
common,
*
(of N. J.), N.
Rubber Co.
Intercontinental
5,935,046
{Report for Fiscal
Year ending July 31
Y. City.
1913.)
Dutton, Oct. 6, wrote in substance:
The conditions in Mexico during the past year have been particularly
trying.
Interruptions to traffic, field and factory operations have been
more frequent and more serious than in previous years.
Since June 26
our Torreon factory has been entirely closed and since June 1 it has been
Secretary Walter
except at rare intervals,
when
dispatched on horseback to some other city.
The con¬
Ranch have made the major portion of it unsafe for
our American officers since last November, while during the last four months
our Mexican officers have been obliged to leave the property entirely at
the mercy of marauding rebels and bandits, against whom we have been
able to secure no effective protection.
What losses and damages we have
incurred have yet to be accurately determined.
The company has not received this year the benefit of any dividends or
earnings from the Compania Canadera y Textil de Cbdros, which in past
years have been an important factor in our total earnings.
The reason
for this is that the last-named company is a Mexican corporation and on
account of the revolution has been unable to hold a meeting of its board of
directors or Jo render account of transactions to date.
•
The items of investment securities shown on the balance sheet represent
bonds and short-time notes purchased in the market and taken at present
messengers were
ditions on the Cedros
market quotations.
pref. stock have been paid during the year. ,
ENDING JULY 31.'
.
.1911-12.
1910-11.
1909-10.
$260,324 $1,190,095
$2,714,255 $2,369,795;
54,954
81,136
73,736
101,611
Regular dividends on the
'
ACCOUNT' YEARS
INCOME
.
.1912-13*.
profits.________
♦Gross
Adminis. & gen. expens.
Net
$205,370
profits.
Common dividends
$1,108,959
$87,500
$2,640,519
$1,161,240
138,250
$2,268,184
$87,500
$1.17,870
$1,021,459
$1,341,029
$1,355,743
(4%)
Preferred dividends (7%)
Balance, surplus.....
x
*
V912,441
Includes payment of accumulated pref. dividends.
Includes $61,002 net income from securities, interest,
ment
of investment
securities, to current market
&c. (after adjust¬
values).
BALANCE SHEET JULY 31.
1913.
111
A sscts
Investments
Patents
*
Liabilities—
$
Common stock
.30,313,897 30,288,897
15,142
15,141
adv. to sub. cos.
Preferred stock
Miscellaneous
1,310,215
23,659
2,500
13,469
2,500
Treasury stock;__
_
__
Gen. res. acct
677,435
Sundry.:
1912.
1913.
,1912
•
Accts.& notes rec.
$
$•
29,031,000 29,031,009
1,250,000
1,250,009
139,950
224,247
1,130,103
1;212,091
'.♦2,197,810
Surplus _:_
2,110,949
securities
Invest
'
(market value).
2,19.8,054
33,748,863 33,828,277
Total
*
1,415,094
1,301,137
Cash.—
After deducting
Assets
($22,303,607)—•
&c.
Real estate, buildings,
Inventories
Cash
Sheet
Moline, 111.
July 31
1913—Earnings.)
($22,303,607)—
$
pref. stock
7,500,000
Second pref. stock
1,500,000
Liabilities
$
5,152,544
First
8,401,489
625,511
Common stock
9,000,000
Surplus
Bills payable
Accounts payable
1,648,272
1,707,190
; 909,531
Cash& rec'bles—European 1,052,516
Rec'bles, less reserve
Miscellaneous items
in and loans to
95, p. 1539.
Moline Plow Co.,
Balance
{Official
..33,748,863 33,828,277
Total
$31,000 for reserve against investments
subsidiary companies.—V.
12,807,682
134,706
payable.
Wages, taxes, &c., accr'd
trade names
26,500,000 Customers' deposits
a
Inventories
4,837,906 Reserves for depreciation:
On bldgs. & equipment.
Branch houses (in liq.), net
151,066
Good-will,
models,
ents,
trade-marks
37,500
254,067
25,215
6,673,623
.38,423,976 38,108,494
Total
impossible to communicate with Torreon,
$41,002,564)
$12,329,136
10,177,136
pref. stock out
Real estate and all plants
Second pref. stock out
(4
in
operation,
re¬
mainder for sale)__
_$7,032,554 Common stock out
188,070
and equipment, $5,933,300, includes real estate, $934,buildings and fixtures, $2,089,637, and equipment, $4,001,988, less
for accrued depreciation, $1,092,954.
b Miscellaneous accounts receivable, $2,116,672, includes loans and bills
receivable, $137,529; traffic balances due fropi other companies, $84,680;
net balances due from agents and conductors, $1,434,318;
other working
assets, $8,479, and other accounts, $451,665.
c Deferred
debit items, $1;991,513, include working funds, $35,500;
advance payments, $1,446,667, and other deferred debit items, $509,346.
—V. 97., p. 1050." •
every
♦First
1,198,370
______
reserve
"Chronicle," says in subst.
BALANCE SHEET JULY 31 1913 (TOTAL
1,888,299
Operating reserves
Other
def.
credit
630;
Co. (incorporated on Jan. 2 1913 as successor of the
95, p. 1626) has no outstanding notes and it. takes
cash discount."
I am of the opinion that an amount in
excess of the dividend on the first pref. stock should be earned during the
first fiscal year, Aug. 1 1913 to Aug. 1 1914.
With increased production
during the second fiscal year of approximately 4,000 automobiles per month,
preparations for which are now under way,larger earnings should be shown.
As to the general business outlook, contracts have been received from
dealers throughout the United States and Canada during the past six weeks
for over 20,000 Maxwell cars—about 500 per day—and it is,expected that
the total aggregate of these contracts calling for shipment of cars during
the fiscal year will be largely in excess of what we can supply.
Shipments during September (the second month of the fiscal year) were
approximately 1,000 cars, most of which were the new model '25 h.p.,"
a 4-cylinder 5-passenger car, selling at $750, which has met with instant
success.
This demand makes it advisable to increase our manufacturing
facilities rapidly, and the company has established a definite policy which
provides that the production of automobiles shall be progressively increased
each month, so that early in 1914 we shall be manufacturing 2,000auto¬
mobiles per month, and, as a part of this policy, alterations and extensions
are now being made at the Detroit,
Day tori and Newcastle factories for
increasing the production to more than 4,000 automobiles per month.
The extensions and improvements necessary for the purpose of increasing
the manufacturing facilities will not require large capital expenditures, as
we shall utilize the present factories and most of the machinery at the New¬
castle, Dayton and Detroit plants.
To effect economies, it was deemed advisable to close the factories at
Hartford, Conn., Auburn, R. I.,Tarrytown, N. Y., and concentrate all
production at Detroit, Mich., Davton, O., and Newcastle, Ind. ' The
plants at Auburn, Tarrytown and Hartford, together with most of the ma¬
chinery, will be offered for sale.
The Briscoe Mfg. Co. of Detroit will be
located in a factory where the radiators and fenders produced by it can be
made in larger quantities and with greater economy; the location of this
plant on Woodward Ave. makes it too valuable for factory purposes.
Further economies have resulted by moving the executive offices from
New York to Detroit, and closing the 20 branch houses located in different
cities in the United States.
Dealers'have been established at these points
to distribute Maxwell cars, and every section of the United States and Can¬
ada is covered .by our salesmen.
The foreign sales, which will aggregate
several thousand cars per year, are handled through our London branch_
of
Taxes accrued..*--
Real property
a
Motor Co., V.
S.
2,359,672
1,948,305
13,469
168,873
202,911
.
38,423,976 38,108,494
Total:.
The Maxwell Motor
U.
advantage
wages.__
Profit and loss....
statement given to the
a
and
items.
311913—Official Statement.)
Oct. 1 and revised for the
416,277
,991,513
dividends..
and
Detroit, Mich., and N. Y. City.
President Walter E. Flanders
vouchers
2,015,631
_$66,181,369
profit for
Distilling
and also
of assets
Maxwell Motor Co.,
Audited
2,355,860
-
After adding to surplus
$
17,862
4,464,828 Mat. int., rents,&c
1,703,093 Unpaid money or¬
Cash in transit
1 ,841,778
ders, checks and
4,404,608
Stocks other cos__ 4 ,725,777
drafts.....
2,727,416
Bonds other cos. .13 ,099,021 13,060,728
2,341,588 Exp. priv's pay'le. 1,156,608
Misc.obl.other cos. 2 ,598,650
13,702
2,002,588 Oth. work, liabils.
,116,672
6Misc. accts. rec._
202,183 Unmat. int.; rents
183,384
Material & supp__
.and dividends.. 1,198,370
Unmat. int., rents
of July 1 1912 ($5,931,080) the net
1912-13, $359,567, and "U- S. Industrial Alcohol Co., and Cuba
Co. common stocks inventoried at $25 per share, $2,923,704,"
after writing off for adjustment of inventories and re-valuation
$4,954,505.—V. 97, p. 1026.
a
unpledged.
1912.
S
outstanding.23,967,400 23,967,400
174,432
Traffic bals. due__
119,047
Stock
2,170,972
corp.
Capital stock of Distillers' Securities Corporation (authorized
$32,500,000, less $21,160 in treasury and $1,663,559 issued
but not used for purposes of conversion
.
_____$30,815,281
Capital stocks of constituent cos. not converted (par value'J_
3,810,402
Distillers Securities Corp. 5% bonds (authorized $16,000,000,
less $1,476,000 in treasury and $431,289 issued but not used
for purposes of conversion), $14,092,711; American Spirits
Manufacturing Co. 6% bonds, $1,472,000; total
15,564,711
Real estate mortgages of subsidiary companies
71,000
Current trade accounts, $643,104: accrued bond int., $205,579;
loans from associated cos., $2,530,676; total
3,379,359
Bills payable (secured, $5,478,215;, unsecured, $2,871,457)
8,349,673
Unpaid dividends, $9,049; reserve account, $275,216; total...
284,266
Surplus
__i
"
a3,906,678
Total
system
or
Physical property. 2 ,134,343
Cash on hand, &c_ 3 ,373,261
11,865
1913.
Liabilities—
$
5,656,694
equip.a5 ,933,300
248,909
30 1912,
f
1912.
$
Assets—•
Secure,
r__.$66,181,369
A
$3,045,426
1913.
•
1,480,821
def.160,593
'•
.___
corporate income
Real prop.&
1,480,690
1,479,315
Balance.
sur.269,726
sur.91,550
CONSOLIDATED BALANCE SHEET "JUNE 30 1913 (INCLUDING'
CONSTITUENT AND SUBSIDIARY COS. (Compare V. 95, p. 889).
1,146.265
sur.6,398
Total int. and divs___
.___
BALANCE SUEET JUNE
1,893,502
1,321,552
1,292,863
1,153,115
1,152,663
1,320,228
1,750,416
1.570,865
793,096
793,046
792,793
791,647
(1 %) 353,169 (2 %)687,775 (2 %)687,897 <2 %) 687,668
_
(including express).___
Income (other sources.
Gross
Net earnings..________
Interest on
$18,026,224 $17,026,262 $13,359,541
Operating revenues___'
Operating expenses
templated administrative
>
1912-13.
1911-12.
1910-11.
96,787
81,995
$34,934,814 $32,465,970 $25,155,562
16,908,590 15,439,708 11,796,021
:
plus only the expense
and this the management
largely increased net profits,
ACCOUNT YEARS ENDED JUNE 30.
INCOME
These inventories
tory cost
ending June 30 19130
{Report for Fiscal Year
accounts
pany
York.,
Wells, Fargo & Co., New
questionable value, including payments
whiskey, trade discounts,
on
6,998,794
72,753
Accrued taxes
•»38,616
$17,078,311; total current liabilities, $2,616,721;
net quick assets, $14,461,590.
4
The Boston "Post" of Sept. 24 also learns: "The gross sales for the 13
months ended July 31" last amounted to $14,450,839, the largest in the
history of the company.
Net profits were over 17% on the first pref. stock.
After charging all expensas, including a reasonable amount for depreciation
of fixed assets, reserve for bad debts, &c., the net profit available for divi¬
dends op the first pref. stock wA$ $1,454,901.
The indicated profit over
the average for the three previous years is $305,136, or 23%.
Compare
Total
quick
assets,
.
V.
96, p. 206, 290.
'
1112
THE
CHRONICLE
Consolidated Gas, Electric
Light & Power Co. of Bait.
Results.—The gross income shows an
increase of $649,686, or 11.9%; the
earnings an increase of $329,393, or
11.6%.
The sales of gas increased
sales of electricity 20.4%.
Additions, tfee.—Extensions and
improvements completed and in pro¬
gress aggregated for the
year: Gas division, $713,433; electric
division,
$620,213; total, $1,333,646.
Ordinary repairs and maintenance amounted
to $325,056 and there was
also set aside out of
earnings $460,000 "reserve
for depreciation,
amortization, &c."
:
Electric Division .—During the
year 95.8% of the total output of elec¬
tricity, or 109,330,400.0 k. w. hours, was purchased from the
Penn. Water
& Power
Co., gonerated at its hydro-electric power plant al
Holtwood, Pa.
Four additional sub-stations were
erected, and our Westport generating
station has been further
enlarged and the equipment of the
principal sub¬
stations increased.
Gross sales in both
bicycle and automobile departments showed an in¬
previous years.
The increase in business over the previous
year
made up largely of a new
low-price model automobile and new models
of
motorcycles, all of which were put on the market for the first time in
the current year.
After the new model of automobile was
designed and its
manufacture well advanced, the
demands from the public for additional
net
crease over
6.9% and the
-
,
•
was
equipment not originally provided
for, such as self-starters, made it abso¬
lutely necessary they should be added in order
that the cars should be
salable, making an increased cost at a time
too late to be provided for in the
selling price.
'
'
Unusual expenses were also
incurred in the development and
perfection
of the new
motorcycles which could not be foreseen:
These expenses
combined absorbed much of the
gross profits made on the product of the
company, the results of which are
shown in the accompanying financial
reports.
''-v- v
•
The industrial power department has
closed a large number of additional
contracts, amounting in all to 19,100 h. p., the largest
single contract
being the Maryland Steel Co. at Sparrow's Point, for
7,500 h. p.
Qas Division.—There were installed
20 miles of mains and 4,482 new ser¬
vices, making 692 miles of mains in use June 30.
Through the new busi¬
ness department,
also, 9,581 gas ranges and 2,734 gas water heaters were
installed, being an increase of 10.5%.
Y.-'Y
Extensions to the Spring Gardens station
include additional boiler ca¬
pacity of 1,000 h. p., a new purifying house and the new
6,000,000 cu. ft.
storage holder, begun last year, was completed and
put into service.
Two
new distribution
sub-stations have been
Our
expenses were also
considerably increased in the current year by very
heavy interest charges occasioned by the
large amount of money which the
company was obliged to borrow at
very high rates on account of the
power
.
•
established.
STATEMENT OF
1492.)
Y
'
■
stock
common
placed
was
on
a
1913.
1 $259,239
Disc., int. & royalties
J
—
BALANCE
an
will,
price
Land,
we
acquired the capital stock and leased
Statement Indicating the Development
of the Business—Years
Ending June 30 1908, 1912 and 1913.
1912-13.
29,927
94,876,888
Electric customers
Electric sales in k. w. hours____
1907-08.
24,351
13,655
78,812,729
32,481,716
.3,611,312,180 3,378,475,400 2,723,319,300
112,688
106,699
87,816
85,752
76,171
46,663
;
....
Gas rangas in use...
Water heaters in
1911-12.
,
•
i-
use
i
21,150
18,416
9,254
INCOME ACCOUNT YEARS ENDING
JUNE 30.
1912-13.
1911-12.
$
$
Income from
Other
& elec.
1910-11.
$
5,430,568
34,719
4.842,095
25,681
income.6,114,973
5,465,287
2,642,887
4,867,776
2,455,440
4,699,098
2.265,534
2,412,336
1.377,403
2,433,564
1,374,362
1,034,933
(4^)31,500
1,059,202
(6)42,090
(6)381,603
(2)126,001
2,963,180
Net earnings
Int. on funded debt, &c_
3,151,793
1,476,768
£,822,400
Surplus for diys., &c.
1,675,025
1,405,132'
_
1,417,268
Divs.: Prior lien stock..
-
Pref. stock.
*810,6721
Common stock.
Reserve
for
renewals,
J
_
amortiz'n, con ting.,&c.
Special reserve
(6)381,603
(6)381,603
(5)363.147(43^)293.502
219,050
257,597
1,200,277
204,855
925,655
807,201
252,001
104,353
109.278
Includes 6% on pref. and 5H % on common in
1912-13.
1913.
1912.
$
$
Property, plant
t
franchises, <fcc_a41 ,360,362 39,069,479
Bonds In treasury.b2
5,803,000
Investments
1
L,734,278
3,837,000
1,359,475
Construction work
in course of com-
plction
Cash
on
bank
hand,
882,583
704,098
846,793
544,735
799,889
680,167
139,805
in
Mater'l & supplies
Prepaym'ts,
490,262
taxes
Common stock
Preferred stock
Funded debt.
Acc'ts
160,242
170,844
Materials & supplies.l,688,748
1,477,313
Accts. & notes receiv.
Sundry
*
48,628,336 46,920,812
5
7,300,034
6,360,054
..Y,
20,911
168,663
517,323
547,422
749,274
300,000
533,572
on
Ac
accruals,
reserve
Divs. pay.
July 1.
actual values
over
180.
,301,457
1,213,351
48,628,336 46,920,812
Funded debt includes: Consol. M.
Includas re-acquired securities.
396,608
253,829
Profit and lossi.
.^
.
24,069
33", 750
45,848
46,742
19,145
20.15S
841,051 1,012,921
•
Fuel
Supply Co., Pittsburgh, Pa.
(Report for Fiscal Year ending June 30 1913.)
Pres. G. T.
Braden, Pittsburgh, Sept. 19, wrote:
During the past year we have drilled 60 wells, 25
being gas wells, 19 oil
16 unproductive.
In addition we purchased 23
gas, wells and
abandoned 21 old gas wells,
leaving a present total of 51 gas wells, 35 oil
wells and 11 locations
drilling.
The company's oil production is located
as follows:
We own a one-half
wells and
interest in three leases in the Adair
pool with 28 producing wells making
700 barrels per day.
We have a few small wells in
Township 26
producing about 80 barrels.
In the Tulsa field we have two leases
about
making
about 150 barrels
per day, or a total of about 580 barrels per day.
Our gas production is located
south of Owasso and east of Tulsa with a
little east of the Glen pool. ' We are
doing simply
selling the
a
wholesale business,
gas in the fields direct to the
pipe line companies.
The gas
properties consist of 2 miles of 10-inch,
mile of 8-inch, 4 miles of
6-inch,
15 miles of 4-inch and about 3 milos of 2 and 3-inch
pipe, together with one
compressor station of 500 h.p.
'
Last year our business was
nearly all wholesaling gas.
This year, how¬
ever, we have developed a nice oil production and the oil
earnings shown i*
the financial statement only cover about
8 months' business,
'
Y
RESULTS FOR FISCAL YEAR ENDING JUNE
30 1913.
Gas earnings
1911-12
Y .$262,853
5,426
Y 434
1912-13.
$198,718
97,851
earnings.
Miscellaneous
Netearns....
P.&L. susp. items.
$197,257 $147,506
1,903
Net from
oper.$199,160 $147,506
Dividends...
35,000
30,000
Total gross earn.$361,138 $204,281
Gas purchased
24,656
15,150
♦Oper. exp.
1911-12.
137
Oil
Res. for line rent.
Res. for deprec'n.
25,000
75.Q00
96,521
Net to surplus.
$336,482 $189,131
&c_. 139,225
41,625
$64,160
$20,985
♦Includes drilling wells, rentals,
taxes, bad accounts charged off, junk
The
net surplus has gone into investment
accounts,
$296,778, less depreciation, $75,000; net, $221,778.
BALANCE SHEET JUNE 30
Assets—
1913.
1912.
Investment
which
increased
1913
Liabilities—
1913.
1912'.
Capital stock..__$500,000 $500,000
payable 220,058
58,900
Accounts
Total.-..
Surplus.85,145
20,985
$805,203
$579,885
Total.....
$805,203 $579,885
Directors.—-G. T. Braden (Pres.), R. H. Bartlett
(Sec.-Trea.s) and H.
W.
Davis.
Unitsd
States
Glass
Co., Pittsburgh, Pa.
(Report for Fiscal Year ending June 30 1913.)
The report, signed by Pres. Marion G.
Bryce and Sec.Treas. Ernst Nickel, Aug. 19, says in
substance:
Results.—Th9 sales for the year were about
normal.
The manufacture of glassware was
seriously interfered with by a series
during March, which finally culminated in
a
general
April 4 to May 5,
This was the most serious
condition the
company had faced for 20 years, and entailed considerable
loss.
By agree¬
ment with the
minor
strikes
strike from
an
adjustment to their methods
was
be effective Sept. 1 1913.
Other difficulties encountered
agreed upon to
were the/ great
scarcity ]of labor and the
flood at the city of Tiffin, where your
large factory "R" is located.
The
plant suffered no direct damage, but five of our
employees lost their lives.
Charged Off.—The surplus account June 30 1912 was
$572,704.
During
the year the following items were
charged off: Good-will,
$300,000; pat¬
ents, $32,615, and gas and oil leases, wells,
machinery, pipe lines, produc¬
&c., $42,710; and there were carried to
property account taxes on Glassport property for years ending June 30 1909-10-11 and
'12, $39,309, mak¬
ing a total of $414,634, and leaving a balance of
$158,069, to which was
ers,
•
5 Bonds in treasury include in 1913
$274,000 available (against $328,000
in 1912) and $2,529,000 pledged as collateral for
Consol. M. 5% debenture
stock, ser. A.—V. 97, p. 628, 1026.
orders..
showed an excess of
those of the book accounts of
$499,469."—V. 97, p. 600,
union,
Total
on
•
United
of
"97,500
1
Deposits
Contingent liabilities
■
179,60«
191
..9,090,082 8,282,178
Total..
Y..9,090,082 8,282,17$
Note.—-"The land, buildings and
equipment were valued by the America*
as of Mar. 31
1913* which valuation
Appraisal Co.
620,305
5% Gas bonds, due July 1 1939, $3.400,000 gen. M. 43^% Gas bonds, due April 1
1954, $6,062,000; gen. M.
4H% G. & E. bonds, due Feb. 14 1935, $13,360,000; United
E. L. & P.
Co. 4H% bonds, due May 1
1929, $4,428,000; Consol. M. 5% deb.
stock,
$3,406,550.
a
•
715,701
115,123
534,315
96,464
Total..
.
29,559,000
27,229
321,110
reserves, &c
Special
Surplus
Total
Y
(less reserves)
Unclaimed dividends
Pay-rolls accrued...
1912.
595,305
payable
bonds,
50,179
*30 ,656,550
Bills payable....w
Accrued interest
with
fiscal agents.
Acc'ts & bills rec_.
-Y:
8 ,887,834
5 ,272,454
*
Unpaid wages (not
due) ,
9
247,043
and
*
i_$688,558 $484,780
45,280
•
2,574
Accts. receivable73,365
112,531
1913.
Liabilities—
510,000
notes,taxes,&c_.
Res've for invent.,&c
by deferred
Cash
BALANCE SHEET JUNE 30.
Assets—
on
allowances, &c.
455,527
1,570,672
•
deductions
363,333
installments
19,597
.460,000
300,000
Net surplus. __Y.
*
4,679,501
.3,690,800 3,690,800
due 1914..1,000,000
1,000,000
Accts. pay.,accr. Int.
169,198
1912-13.
expenses & taxes.'
Total
1909-10.
$
6,062,951
52,022
income
Total gross
Oper.
gas
$
stock.2,328,200 2,298,200
Common stock
equip5,620,251 6% notes
)
Loans payable
_2,506,960J
expenses..
Cash
1912.
$
Liabilities—
Preferred
Contract to be liqui¬
,
Gas sales in cubic feet..
Gas customers
bldgs,
prepaid
increase of
Rates— On Jan. 13 1913 the P. S.
Commission ordered us to reduce our
maximum rates for both gas and
electricity, thus concluding the rate'case
which began on June 30 1911.
Accordingly, effective July 11913, the maxi¬
mum rate for gas was made 90 cts.
per 1,000 cu. ft., with a discount of 10 cts.
per 1,000 for prompt payment, and for
electricity 834 cts. per k. w. hour
(V. 97, p. 53).
The aggressive campaign now being
made, together with
the stimulus of lower rates, should
soon overcome the burden
tenlporarily
imposed by the reduction in rates.
The present use of steam
power in
private plants and factories exceeds by several times the
power now being
supplied by your company, and we therefore expect your electric power
business to be doubled within the hear
future.
Our electric rates are the
lowest on the Atlantic Seaboard, while the
enormous amount of
power
available from the Penn. Water & Power
Co. provides at these rates the
cheapest form of power.
We have set aside out of the earnings of the
year
* special reserve for new business
campaign and extraordinary expenses.
(234)92,270
1913.
$
-.3,734,1101
ment, <fcc
the property and business of the
Patapsco Electric & Mfg. Co., adding
1,037 to the number of our electric customers and
bringing under our con¬
trol the only territory in the
vicinity of Baltimore which had been not
sup¬
plied exclusively by your company (V. 96, p.
949).
Comparative
&c._
dated
1913
(6~)Y3~7,892
(6)137,892)
SHEET JULY 31.
Deferred charges and
■
Acquisition.—On May 1
(6)137,892
(1)36,908
1912.-
$ Y
Pat't3, licenses,good¬
n
1,731,
96,464
1913v
Assets—
per share, with the privilege of paying therefor in
monthly installments
during the ensuing five years.
Several hundred
subscriptions were re¬
ceived, ranging from one to 25 shares.
our shares is
$792,485
$47,094
127,989
Balance, surp. or def_def.$171,871
sur.$76,490 sur.$76,227sur.$515,229
"Miscellaneous deductions" include
miscellaneous losses and
expenses,
including discounts, provision for losses on bad and
doubtful accounts,
aggregating $81,867 in 1912-13; also interest,
discount and commission o*
loans ($148,460 in 1912-13).
:
Y
(V. 96, p. 1232,
;;- Y''Y,'..Y ■
6% dividend basis for the
average purchase
holding
1910.
$664,496
$277,238
$63,119
$65,5S7
%) 104,319
Common dividends
quarter ended March 31 last (V. 96, p.
363).
The common share capital
authorized to be increased to $20,000,000
(V. 96, p. 1232) and the pref.
to be decreased to zero in
accordance with tne offer dated
Jan. 27 1913 for the
exchange of preferred for common shares (V.
96, p.
288, 718; V. 97, p. 668).
This exchange has reduced the
outstanding pref.
stock to $5,272,454.
One thousand shares of the common stock
purchased
in the market were offered to our
employees at the
.
1911.
$169,310
107,928
$316,877
_
Reserve for reduction of in¬
ventory & drafts receiv..
Preferred dividends _(434
was
The total number of investors
1912.
$316,877/
\
Total earnings.
.$259,239
Miscellaneous deductions..$230,327
authorized
204.
rec.
1
■
1366,
EARNINGS FOR YEAR ENDING JULY
31.
Years ending July 31—
Net income—________
4ii
certificates of indebtedness due Jan. 1
1913 and $1,430,000 coll. trust
3-yr
5% gold notes, called for redemption on March 1
1913, and for other cor¬
porate purposes.
■
Our financial structure has been
radically improved by a new issue Of
securities of a total authorized amount of
$60,000,000, issuable either in
the form of debenture stock or
bonds, as may be desired, to refund the out¬
standing issues and for other capital requirements.
The first £700,000 of
Consol. M. 5% debenture stock was
placed on satisfactory terms in the Lon¬
don market, the proceeds
retiring the remaining $1,570,000 coll. trust 3-yr."
5% gold notes maturing July 1 1913; $38,000 Consol. Gas Co.
4341 % certfs.
of mdetedness, also due
July 1 1913, and the balance being used to
purchase
underlying securities and for additions and improvements.
Stock.—The
condi¬
tions of the money market.
The factory at Hartford
known as the West Works has been
closed, all
work being done there
having been transferred to the main factory, this
being made practical by the addition of the floor
space in the building
recently constructed at the main works.
This concentration of operations
will make a large
saving in expense of manufacturing and the West Works
factory is being offered for sale.
Bonds, &c.-r— During the year $2,037,000 Consol. Gas Co. Gen. M.
4H%
bonds, due 1954, were sold (V. 96, p. 363, 491,
949) to retire $196,000
1300,
xcvn.
(The) Pope Manufacturing Co., Hartford, Conn.
(Repoirt for Fiscal Year ending July 31 1913.)
Pres. Albert L.
Pope, Hartford, says in substance:
(Report for Fiscal Year ending June 30 1913.)
Pres. J. E. Aldred,
Baltimore, Oct. 6 1913, wrote:
.
[Vol.
,
added the net profit for year ending June 30
1913, $38,249.
account
June
30
1913, $196,319.
'
Total surplus
Oct. 18
New York.
31 1912.)
Adolph Lewisohn submits statements, in brief:
Miami
the year there hare been practically no sales
in a loss of $13,252 for taxes Ac.
■
i .
July 1913 showed shipments greatly in excess of
July 1912, and to date a further reduction of $30,000 has been maed in the
Glassport Land Co.—During
of land, resulting
Pres.
payable.',
RESULTS FOR
$77,382
$90,062
$114,717
25,997
15,361
25,116
28,183
Net
$51,385
$74,701
$89,601
$113,056
Total net Income.
$51,501
$74,701
$89,601
$113,056
gain for year
Divs. on investments. _
•Carrying Glassport
Dividends
13,252
::::::(4%)i28~66o
—
Bal., surp. or def
.$38,249
sur
sur.$74,701 def.$38,399 sur.$49,056
BALANCE SHEET JUNE 30.
Cash
Acc'ts
•
i.
154,218
365,000
513,844 Bonds outst'g.. 396,666
i
493,278 Non-int-bearing ,H
notes
5,751
al96,319
82,438 Surplus
482,295
432,934
1,857
108.129
21,115
390,606
payables.
payable
Bills
10,546
572,704
26,815
4,207,654 4,693,068
Total
.4,207,654 4,693,068
Total
®
105,735
315,000
782,929
739,371
Invest, secur's..
1912.
%
2,794,013 Capital stock.__3,200,000 3,200,000
Prop., wks., &c_2,421,953
Net invest. .Glassport Ld. Co..
Inventories
Acc'ts receivable
Bills receivable,
TA/iTiilifi*><?——•
$
$
Resources—
1913.
1912.
1913.
a As to amounts charged off in 1912-13, aggregating $414,635, see text
above.—Y. 97. p. 528.
>
American
The
Rolling Mill
Co.,
O.
Middletown,
(Report for Fiscal Year ending June 30 1913.)
Pres.
full (fiscal) year's opera¬
completion of our new East Side Works, and the first run of
Results.—On June 30 1913 we completed the first
tions since the
as more
brought up from 2,500 tons to 3,000 tons of ore per day and
will increase both the capacity and efficiency.
Mining costs have remained high, on account of the necessity of continu¬
ing the slicing and square-setting on the tbp of the ore body so as to pre¬
pare it for the proper operation of the shrinkage stopes Avithout undue loss
of ore.
One section of the mine is now in shape for shrinkage stoping and
lower costs may be expected.
Adverse legislation regarding hours of labor
and increased labor costs have also unfavorably affected all costs.
The ore reserves have been increased so that on Jan. 1 1913 there were
deA-eloped 20,800,000 tons of ore running 2.48% copper.
In addition to
this there has been developed in the iast two years by drilling 17,200,000
tons of low-grade material averaging 1.21% copper, and Indications are
that additional drilling will undoubtedly materially add to this tonnage.
While this Is not yet classed as merchantable ore, it has a prospective value
on account of its composition, the copper being entirely
in the form of
sulphide associated with iron pyrite, readily amenable to concentration.
has been
changes are under way which
Condensed Extracts from Report of Gen. Mgr.
The development work for the year consisted
June 30 $132,000
per month (this being the first quarter with all conditions near normal),
having gradually increased from approximately $150,000 for the first quar¬
ter of the year to over $400,000 for the last quarter.
From June 1911 to June 1912 the market on sheet metal products Avas
the lowest in 25 years.
By July 1912 it had recovered to what might be
considered an average normal condition, but we did not secure any decided
benefit from better market conditions until Jan. 1913.
From that time
until June 30 last prices were fair and demand good.
At the present time
the market on commodities has softened somewhat, due to the "waiting
attitude" of the buying public.
Outlook.—Since July 1912 your company has gradually increased its sales
approximately $300,000 to $856,000 per month in the last quarter
[Press reports say that the net for Aug. 1913
($8,481,171)
the previous
year, and should reach a total of about $1,006,600 per,month within the
fiscal year.
During the year ending June 30 1911 approximately 80% of
our product was being sold in "specialties," and the balance in commodities
or standard grades or sheet metal.
By June 30 1913 our monthly produc¬
tion had increased 300%, and approximately 75% was sold in "specialties."
It is estimated that within two years our entire, output, including any in¬
crease in tonnage produced during that time will be absorbed in special
from
Report of Treasurer J. H. Sussmann, March 10 1913.
bonded debt has been reduced from $1,415,000 to $58,000 by the
of bonds, and the capital surplus has been increased from
$1,010,000 to $1,967,882.
The cost of producing and marketing copper
for the year 1912 was 9.5884 cents per pound.
The cost of renewal and repairs has been charged to operating expenses
and there has also been a direct charge for depreciation of plant amounting
to
$169,096.
Mill betterments and replacements, involving a cost of
$84,717, have also been charged to operating expense.
As in the previous year, the cost of current development of the mine has
been added to the capital, while the development account has been credited
vrtth $322,948, equal to 31c. per ton of ore hoisted.
This covers the
amount of depreciation of the mine plant and the
proportionate cost of
the past and future development based on the proven tonnage in the mine.
The payment of dividends was commenced on May 15 1912 at the rate
of 50c. per share quarterly and three dividends were paid during the year.
It will be noted from the reports that 118,130 tons of ore from the stock
pile have been treated, reducing said pile from 226,343 tons to 108,213 tons.
The operations have been charged with $1 a ton for this ore.
The
conversion
of the fiscal year just ended.
INCOME ACCOUNT FOR
2H times the Aug. 1912 net.]
Sales billed for the year
show, under the new conditions, an increase of $3,723,670 over
was
high-grade products.
We can now produce about 175,000 tons per annum
•f high-grade sheet metal products.
Our largest production of finished
materials in any one month was slightly over 13,000 tons as compared Avith
an average of 4,500 tons "per month during the last year's operation of our
Central and Zanesville Works.
Our manufacturing and development facili¬
ties cannot be excelled, and our research department enables us to produce
«nly the best grades of metal products.
A lucrative export business has been enjoyed in several countries for a
„
Gottsberger, Mar. 1 '13.
in the completion of the
sub-levels and raises in the Northwest orebody; in extending this same level into the Captain ore-body, which con¬
tains approximately 4,000,000 tons of ore, and the starting of several haul¬
age drifts in it; also the putting up of a raise from this level to the bottom
of the Captain shaft.
Considerable full-sized drifting was done on the 570foot level so as to prepare it for a main extraction level.
A station wa. cut
at the 720-foot level at No. 4 shaft, but a* it will be several years before the
ore tributary to this level is needed, the work of driving the cross-cut has
not yet been started.
During the year there were driven 37,170 ft. of drifts,
17,419 ft. of raises and 340 ft. of shafts; total, 54,929 ft.
420-foot extraction level and the
Abstract of
George M. Verity, Middletown, O., Sept. 25, wrote:
21 months since the new works began actual operation.
The average net earnings were for the last quarter ended
•
than kept pace with the ore extracted.
Sower house and the mill was completed and underground development
The capacity of the mill
116
Ld.Co.
—
$141,239
(of Del.),
Co.
Copper
Digest of Statement by Consulting Engineer Channing. Mar. 6 1913.
In 1912 the production of copper amounted to 32,832,609 lbs. from the
treatment of 1,040,744 tons of ore [at 2.393%].
The equipment of the
FISCAL YEAR ENDING JUNE 30.
1912-13.
1911-12.
1910-11.
1909-10.
Mfg. profit for year
Extraord. exp., replace.,
renewals, Ac.
(Ariz.)
(.Report for Fiscal Year ending Dec.
Outlook.—The month of
bills
1113
CHRONICLE
THE
1913.]
.
past, and is being developed in many other countries.
Depreciation, cfee.—During the year $575,741 was expended for repairs,
depreciation, and a special reserve of $153,606 has been
made covering accruing renewals and intangible depreciation or obsolescence,
making a total of $728,741 from grass earnings during the year.
The total special reserve for accruing renewals, depreciation, Ac., was
an June 30 $538,467, a large portion of which would appear in our regular
surplus account under former methods of accounting.
Patent Interests.—More than three years ago the
International Metal
Products*Co. Avas organized as a separate patent holding company to better
protect our valuable patent interests through the courts or otherAvise, and
to sell, operate or license others to operate under its patents as might be
desirable from time to time.
The capital stock is ail owned by your com¬
pany, being carried at a valuation of $l,350t000.
During the past three years our patent properties have increased in value
through royalty license contracts, and through increase in number of pat¬
ents secured, until at present patents and trade-marks are owned in the
U. S. and in 32 foreign countries.
A suit for infringement of our U. S.
patents covering "American ingot iron" is being vigorously prosecuted.
Financial Plans.—A plan has been formulated for funding
outstanding
gold notes, which mature over a period of 18 months beginning with March
15 1914 (V. 94, p 1658,1121)
(See a following page.)
[Operates at Middletown, Ohio, East MiddletoAvn, Ohio, and Zanesville,
Ohio, 8 open-hearth furnaces, 1 46-in. blooming mili, 2 sheet bar mills, 19
sheet mills and 2 jobbing mills.]
•.
CALENDAR YEARS ENDING DEC.
...
Total deduc'ns-$3,114,115
$587,850
Total ........_$2,336,428
$587,850
income
Other
,916,479
Freight on concen.
$795,000
187,578
223,691
Gen'l mine exp
al06,799
Int.
94,316
753,976
41,694
pig copper.
Selling expenses..
39,780
N. Y. office exp__
Cr .41,697
Silver proceeds
Int.
348,223
on
loans
26,164
Cr.27,078
1912.
$994,693
$
Ore on hand*
$
1912.
.
_
Smelt. & frt. charges
182,390
1,203
Mach'y A supplies.
Res. acc't new hosp'l
85,671
12,371
4,028
hand
Accounts receivable.
..7,667,167
Total.....
_
and
Profit
6,641,670|
66,704
20,373
16", 875
528,524
16,875
loss.._..l ,523,216
.7,667,167 6,641,670
Total..
mining.—V. 95, p. 617.
At estimated C03t of
189,553
268,309
23,580
Res. for bull, taxes..
*
$
3 ,724,085 3,324,965
1,629,527 1,626,133 Capital stock
58,000 1,415,000
£..1,522,226 1,285,421 1st M. conv. 6s
2,846,736 2,SOS,183 Prem. on shares less
expenses of issue. 1 ,967,882 1,010,000
20,459
»■
75,000
90,049
64,847
232,410 Deer, pay-roll, Ac..,
115,462
395,772
on
1911.
$
Liabilities—
.
1,126,372
Materials & supplies
273,776
Unexpired Insurance
1,103
Cash
64,594
Metals
$489,603
31.
1911.
Assets—
Stock investment
85,587
169,097
1,100,112
BALANCE SHEET DECEMBER
maintenance and
Development
Construction
"
30,271
bonds
Depreciation
Dividends, 30%__
25,590
$12,660
$42,255
$4,254 for gain In supplies.
number of years
Mining property
(less
deposits).
Balance, surplus
>
Cr.969
Gold proceeds
After crediting
on
bank
Sm., rel. A frt. on
a
$1,362,819
-..-.....$2,271,387
65,041
Balance
Deductions—
Concentrates.
1911.
Cr .$6,195
House rentals
14,970,557
13.03 cts.
$5,385,502 $1,950,669
Total sales
31.
{Con.)—
1912.
Cr.$6,417
Deduc'ns
1911.
1912.
Copper sold (lbs.) 32,477,923
Price (lb.)
16.582 eta.
-
Tonopah & Goldfield RR.
{Report for Fiscal Year ending
June 30 1913.)
.
INCOME AND PROFIT AND LOSS ACCT. YEAR
END. JUNE 36, 1913-
($8,481,171) and foundry profits ($39,914), Ac___.$8,530,946
employees' bonus, Corporation excise tax, repairs and
($575,741, not incl. special reserve. $153,066,
below)..
7,266,778
Gross sales
Oper.
exp.,
maintenance
see
Net income
$1,261,168
_
bills payable. $34,274), $109,less discount earned, $1,444
Reserve for intangible deprec'n and extraordinary replacements.
.Special appropriations—Flood losses, $52,013:
misc. adjustments (incl. $50,000 on excessive cost
of initial operation of
East Side Mill) >$64,784; total...:
Interest (5% gold notes, $75,660:
107.830
153,000
274;
•
'
116,797
.
on Prof., $36,000;
$467P889)dUrillS y6ar
9% on com.,
Baiance, being surplus unappropriated for the year.
Surplus June 30 1912. $2,528,905; surplus as above,
June 30 1913, $2,911,557.
BALANCE SHEET JUNE 30 1913 {Total
R«al estate, plant, &c
$6,745,870
xl,350,000
Patents, licenses, Ac
Sundry investments
Materials and supplies
Notes
and
accounts
375,861
_
_
Cash
Contingent fund, Ac
Fund to guar. pref. divs..
Prepaid insur., taxes, Ac.
Deferred charges
Gold notes,
Accrued interest A taxes._
62.
.778
payable
Accounts payable
ReserAre for
1,153,052
551,090
45,069
538,467
76,177
77,191
2,911,557
1/265,000
y Estimated excessive c st of initial operations of new East Side
$315,000:1 less $50,000 Avritten off out of net income for the year.
Mill,
I ""directors.—Jas. M. Hutton (of W. E. Hutton A Co) and F. H. Simpson,
Cincinnati:
S. M. Goodman, Hamilton, O.;
W. S. Horner, Pittsburgh;
W. T. Simpson (V.-P. A Mgr.), Zanesville, O.;
J. M. Iseminger, R. C.
Phillips (Sec.), and George M. Verity (Pres.), all of Middletown, O.; John
R.^Turner, Jersey.Qity, N. J—V. 97. p. 888.
40,627
$760,442
$788,977
89,698
1S2.629
30,934
$88,692
118,486
218,183
35,309
$73,548
142,918
296,695
47,774
$75,214
111,457
326,503
71,966
$371,085
(53.29)
325,313
27,747
$460,670
(60.58)
299,772
29,983
$560,935
$585,140
(74.14)
204,065
36,235
$269,789
$198,759
9,258
3,298
$167,830
3,772
$315,406
$279,047
$202,057
$171,602
$38,970
$43,590
$48,210
$52,830
*8,0S9
*17,548
*90,200
78,925
9,733
78,925
12,113
78,925
$136,868
$65,189
$143,868
$27,734
195,025
106,666
$696,398
General
__
-
Total
P.
c.
expenses
to revenue
Net earnings
Taxes
Operating income
income
Other
Total net income.
Deductions—
on
bonds
Hire of eq., rentals,
|
'
Ac.
Sinking fund.
Common divs., 7%
Preferred dividend, 7 %
Total
deductions
Balance, surplus
"
'
4
*
_
$67,823
.
266,159
102,494
'
(71.10)
228,042
29.2S3
t
$789,205
1/115,500
1/35,000
$287,759
$27,647
$140,063
$138,984
li
'
' '
'
^
rentals, Ac., includes in 1913 hire of equip., $3,331;
Tonopah Jet. to Minas, $4,634; miscellaneous, $124.
Hire of equipment,
rental joint line
.
38,901
Operating expenses—
Maintenance of ivay, Ac.
Interest
capital stocjc of Interna¬
1909-10.
$354,619
245,028
136,876
52,682
$297,566
17,840
'
Ac.:
express,
1910-11.
$355,987
274,610
113,433
44,947.
$355,806
Ore
Mail,
1911-12.
$351,162
1912-13.
Operating revenue—
Freight
extraordinary
replacements
Contingent fund, Ac
Guaranty of pref. divs..
Surplus
Owned and controlled through ownership of
tional Metal Products Co. (see text).
x
operation shows areduction as compared with "the previous year from
60.58% to 53.29%.
' '■
The extensive renewal of ties Avhich has been under way for the past
two years xvill have to be continued during the present fiscal year, and in
addition to this some new rail Avill have to be purchased to replace wornout rail in the Tonopah yards.
INCOME ACCOUNT.
Transpor«a'n and traffic
$800,000
5,200,000
5%, 1914 &'15 1,500,000
year ended June 30 1913 show a
has been able further to reduce the operating
in gross earnings by further economies
in general expenses.
The percentage of
earnings for the fiscal
Maint. of equipment.
Each Side $12,852 ,605.)
1,108,
,854
233,
,689
76,
,881
77,
,194
65,
^,592
$382,651
Philadelphia, Sept. 13, wrote in subst.:
expenses in excess of the decrease
in conducting transportation and
Pref. stock, 6% cum
Common stock
Notes
re¬
ceivable (less reserve)
While the gross
decrease, your management
Passenger
503,889
$382,651; total,
2,490,886
Marketable securities
—
—
Pres. M. B. Cutter,
1114
THE
CHRONICLE
Includes $39,462 paid Nov. 29 1912 and
the same amount payable
Dec. 1 1913 to retire
$77,000 bonds and $11,275 paid May 27 1913 to retire
$11,000 bonds on July 1 1913.
y Deducted by company from profit and
loss, but shown here for sake of
simplicity.
(Vol.
xcvn.
x
Butte Anaconda & Pacific RR —Electric
Operation.—
The first electric
passenger train over the road was run on
Oct. 7 and full electric service is
expected to be installed
before the end of the month.
'
'
t
BALANCE
1913.
Assets—
Road &
houses
at
Tonopah.
11,621
350,000
32,372
Securities in treasury
on
hand, &c_._
11,998
350,000
55,947
Due from individuals
and
Traflic
companies.__
21,667
15,753
Materials & supplies
deposit
Other deferred
items
27,046
6,847
balances, &c_
Due from agents....
Bills receivable
Special
1913.
"$
5,053
256,423
310,000
48,783
30,000
15,520
54,453
30,000
debit
26,833
...........
28,758
1912.
$
$
Liabilities—
equipment.a3,657,045 3,692,283 Preferred
Dwelling
Cash
SHEET JUNE 30.
1912.
$
stock.
Since the middle of
May the Anaconda sub-station has been in operation
on May 24 the electric
locomotives Avere put in service hauling ore trains
and
500,000
500,000
Common stock
1,650,000 1,650,000
1st mtge. 6% bonds.
950,000 1,038,000
Vouchers..
22,460
22,560
Wages
11,811
16,314
Traffic, &c., bals...
51,613
36,408
Divs. uncollected.._
1,443
1,443
Accrued rents, &Cu_.
385
1,654
Accrued taxes
18,410
18,148
Miscellaneous......
5,116
6,759
Accident insur. fund
9,500
4,126
Sinking fund
39,463
39,463
Add'ns through inc.
473,000
3S5,000
Deferred credit items
4,215
2,377
Profit and loss
782,812
6795,923
the "high line."
On July 1 the steam engines Avere abandoned on the
smelter hill, and all of the ore
cars have since been hauled by electric power.
lasting several months have, it is stated, proved that the maximum
load of a steam locomotive was
16 loaded ore cars, the trip up the hill Con¬
suming 45 minutes, while 2 electric
units, coupled in multiples, hauled from
20 to 24 cars in 22 minutes.
Besides the saving in time, the cost of electric
poAver is estimated as 30% less than that
by isteam.
Seventeen electric
locomotives have been purchased from the
General Electric Co., 2 for pas¬
senger service and 15 for freight.
Power is obtained from the Montana
Power Co.
Compare V.
up
Tests
96, p. 1017.
President Earling of the Chicago
Milwaukee & St. Paul, who Avitnessed the initial
trip on Oct. 7,. is quoted as
means "the gradual electrification of all roads Avhere
water power for
electricity can be secured."
See C. M. & St. P. item,
V. 96, p. 135. ,
saying that the change
...
Total
4,510,922 4,527,481
Total
Canadian Northern Ry.—Bonds Called.—
4,510,922 4,527,481
a After
deducting reserve for accrued depreciation, $196,782.
sundry debits (net), amounting to $14,546.—V. 97, p. 803.
Canadian Locomotive Co., Ltd.,
Fifty 1st M. 4% land grant bonds of £500 each and 153 of £100
each,
for payment at 103 on Jan. 1
1914 at Canadian Bank of Commerce, 2 Lom¬
bard St., London, E.C., or Messrs.
Lazard Bros. & Co., 40 Threadneedle
b After
St., London, E.C.—V. 97,
Kingston, Ont.
Canadian
President Aemilius Jarvis Sept. 17 wrote in substance:
The manufacturing profits amount to
$377,043, being an increase of
$82,720: the income from investment bonds was $19,843, making the total
income $396,886.
After meeting bond interest and pref. dividend, and after
allowing for adjustment of sundry accounts and loss on investment bonds
sold, and having transferred $75,000 to reserves for depreciation and special
replacements, there remained a balance of $114,262 to be carried to profit
and loss.
There now stands at credit of profit and loss account
$210,410
and at credit of reserve account
$100,000, an accumulation out of profits
of $310,410 in our two years of
operation.
The increase in our profits over the
previous year is accounted for by the
increased output due to the enlargements of our works.
At present our
output has reached twelve locomotives per month, being double our capa¬
city when this company came into possession, and we expect before June 30
1914 that this output will be increased to at least 18 locomotives
per month.
The additions to plant for the
year, amounting to $488,223, were provided
for by the sale of $335,244 of our investment
bonds, and the balance came
.
out of cash from accumulated profits. We cannot
expect the full efficiency
from our plant until this construction work is
completed.
The difficulties of housing our workmen have been
largely overcome by
the erection of a block of workmen's houses
a company which our
General
on
1912-13.
19,843
1911-12.
32,057
1912-13.
.
$396,886 $326,380
int
90,000
sold, &c
Deprec. reserve
105,000
1913.
Assets—
deductions...3282,624 $230,232
Balance, surplus.....$114,262
$96,148
25,000
Add'ns during year.
Work in prog, (cost).
'•$
Mat. & supp. (cost).
Accounts receivableMunic.A other
Cash..
488,223
283,622
174,146
278,487
bonds.z291,517
134,329
7,619
Def. charges to oper.
204,009
216,827
156,479
1913."
Liabilities—
;
.
1912.
'• §
$
Pref. shares..A
1,500,000 1,500,000
Ordinary shares
2,000,000 2,000,000
1st M. bonds
1,500,000 1,500,000
Int. accd.(pd.July 1)
45,000
45,000
"
200,946
624,969
9,403
3,016
Accts.& notes pay'le.
Accrued wages
Div.
July'
Deprec'n
..
......
reserve...
Reserve spec replac
Profit and loss
,
in
and the issue
progress,
(including equipment) of 4% consolidated
as
follows:
■
£3,000
Extension Avesterly of Weyburn-Lethbridge Branch,
m.
(6) Extension northwesterly of Suffield Southm.,
£6,000 p. m.V (7) Extension northwesterly of
Swift Current Northwesterly
Branch, 175 m., £6,000 p. m.
(1) Two steel twin-screw passenger steamships for the trans-Atlantic
service, each about 500 ft. long, equipped Avith quadruple
expansion en¬
gines and having a tonnage of about 11,600 tons, and (2) two first-class
steel tAvo-compartment turbine
passenger steamships for British Columbia
coast service, each about 395 ft.
long, to be propelled by tAvo independent
240
p.
sets
(5)
m.
£5,000
m.,
AA-esterly
p.
Branch,
27
of
Parsons compound steam-geared turbine
engines and having a
tonnage of about 5,000 tons.
Total, for cost of said 4 vessels, £1,000,000.
(Compare V. 97, p. 529, 1023, 1048.)"
Central Pacific Ry.—Government Suiti—
'•
See Southern Pacific Co. below.—V.
96, p. 419.
June 30
Year—
Operating
—V.
97,
Net (after
•
Revenue.
p.
Fixed
Charges.
Balance,
$2,176,786
$1,245,039
.183,609
Other
Taxes.)
Income.
$3,303,350
2.3S0.529
$14,000,618
12,795,242
728. 49.
$118,474
126,570
Surplus.
2,323,491
Chicago & Illinois Western RR.—Increase of Stock.—
Sale, cfrc.—The stockholders will vote on Dec. 18 on
(1) Increasing the capital stock from $1,000,000 to $1,500,000; (2) rati¬
fying and approving a syndicate agreement entered into on behalf of th©
authority of the directors under date of October 1 1913, pro¬
viding for the completion of the road of betAveen Hawthorne, 111., and West¬
ern Avenue, Chicago, by a syndicate therein
mentioned: and, also an agree¬
ment in connection therewith
providing for the sale or disposition of said
road.—V. 88, p. 685.
•'
company, by
1912.
$
good-will.4,054,218 3,850,209
or
.
306,443
24,058
26,250
75,000
25,000
210,410
119,733
17,477
52,500
25,000
•
Chicago
Railways.—Operating Agreement.—The pro¬
posed operating, agreement will be considered at the annual
meeting of holders of participation certificates on Oct. 23.
See V. 97, p. 1023.
Chicago Rock Island & Pacific Rv.—Lease.—The stock¬
96", 148
holders
Total
■
v-
5,712,162 5,355,858
Total
Se¬
following
105,000
BALANCE SHEET JUNE 30.
Plant and
Construction—New
Oct. 1 approved the
(1) A branch, Gleichen to Shenard, 40 miles, £6,000
p. m.
(2) Branch
Bassano easterly 118 m., £6,000
p. m.
(3) Branch Snowflake westerly
9 miles, £4,000 p. m.
(4) Extension northerly of Selkirk Branch 26 m.,
1911-12
'$10,232
Preferred divs, 7%...
Total
account of same
debenture stock
1912-13
90,000
12,624
50,000
1911-12.
Deductions—c'ontin.
Spec, replacem't reserv.$25,000
Org. exp. written off.
Total income.
Deduct—Bond
Loss investment bonds
on
Chicago Great Western Ry.—Earnings.—
INCOME ACCOUNT FOR YEARS ENDING JUNE 30.
Income from invest's.
Ry.—New
construction, completed
new
Manager promoted.
Manufacturing profits.5377,043 $294,323
1023, 950.
curities.—The shareholders
{Report for Fiscal Year ending June 30 1913.)
by
p.
Pacific
5,712,162 5,355,858
Investments: Balance, July 1 1912, at par, $617,520; sold or
redeemed
during year, $335,244: balance at this date, $287,276: deduct
reserve,
$5,000 and add interest accrued, $4,.166; balance, $281,442.
Also add 1st
M. 6% over Heritable
property in Kingston, $10,000 and interest thereon,
$75, making a total of $291,517.—V. 97, p. 889.
x
......
on Oct. 10 voted to lease the St. Paul & Kansas
Short Line RR. for 999 years.
'
•
:
City
;
The road extends from Plymouth June, to
Allerton, la., about'200 miles
in length, and is Covered by the first mortgage
4Hs of 1911, $10,000,000
outstanding, guaranteed, principal and interest, by the CJ R. I. & P.
(V. 92, p. 526, 593; V. 93, p. 1196, 1259; V. 94, p. 1056.)
#
A
New
GENERAL
INVESTMENT
Traffic Agreement.—The company has made a traffic
deal with the Southern Pacific whereby the latter
accepts Rock
Island freight and passenger business for
interchange at.
NEWS.
RAILROADS, INCLUDING ELECTRIC ROADS.
Altoona
company
(Pa.) Northern RR.—Increase of Debt— The'
has filed notice of an increase of debt to $750,000.
Incorporated in Pa. in Nov. 1912 with $600,000 stock to take overand
standard-gauge the 12-milc narrow-gauge line extending from Altoona to
the Dougherty Mines and to extend the road as an
electric line to Patton,
on the N. Y. Central,
forming a connection between Altoona dnd the latter
system.
Directors: Pres.. Sigmund Morris, Maurice B. Wright Henry
Morris, Samuel S. Hoff, Harry E. Stall, Walter N. Hare and
Harry C
Gwin, all of Aitoona, Pa.
Augusta-Aiken Railway & Electric
Only $2,500,000 Georgia-Carolina Power
standing.—Redmond & Co. write:
Co." Bonds
Out¬
be
Barcelona
a
of
El
Paso.
over
the El Paso &
SouthAvestern between El Paso and Tucson will
extension
V. 97, p.
of the El Paso & Southwestern west into Southern California.—-
1019, 1041, 236.
'
' '
Cincinnati Hamilton & Dayton Ry.—Board Reduced.—
.
The board having been reduced from
burgh and Henry F.
15 to 13, Joseph Wood of Pitts¬
Shoemaker of New York have resigned, the latter
97, p. 1024, 364. \
•
"
account of ill-health.—V.
Cleveland
Authorized—The
authorized
•
Cincinnati
Ohio
Chicago
Utilities
the company to
&
St.
Louis
Commission
on
Ry.—
Oct.
9
issue $750,000 general M„ 4%
To¬
bonds at 81, all except $10,000 of the amount to be used for
Jarvis & Co.j Toronto, have is¬
circular relative to the affairs, of this Canadian cor¬
improvements and the remainder to retire Cincinnati Indian¬
apolis St.. Louis & Chicago bonds; also of $578,000 bonds at
81 instead of 91, the rate for the total of"$1,578,000 author^
ized over a year ago, of which only $1,000,000 bonds sold.
Traction,
Light & Power Co.,
Ltd.,
ronto.— Status.:—Aemelius
sued
trains
on
Co. 1st M. 5% bonds outstand¬
$2,500,000 instead of $4,090,000, as shown by the last
"Electric Railway Section."
The $1,590,000 bonds offered in London were
part of the amount outstanding.
See V. 97, p. 116.
should
instead
materially benefit the border country of Arizona and New Mexico and also
make it more directly tributary to Los Angeles.
The arrangement, it is
reported, will prevent for some time to come, at least, the possibility of the
Corporation.—
The amount of Georgia-Carolina Power
ing
Tucson
This gives the Rock Island 339 miles of additional haul.
The duplication
of lines from Tucson east may, it is stated, be a marked
advantage to
Southern California in time of passenger and freight cong&stion, such as is
expected in Exposition year (1915).
The routing of Rock Island through
poration, organized in 1911 with F. S. Pearson as President,
to operate in Barcelona and its
suburbs, in Spain.
Pref. stock, 7% non-cum.,(red. at 110;
authorized, $12,500,000,
in $100 shares; issued.
;
Common stock auth., $30,000,000, in $100
shares; issued
Bonds, 1st M. 5s of 1911, due 1961 but callable at 105 and int.;
sinking fund begins 1922; present issue
$10,000,000
27,450,000
£7,500,000
British Columbia Electric Ry., Ltd.—Guaranteed Deben¬
ture Stock.—The
company offered in London until Oct.
9, for
subscription at 88, £650,000 434% perpetual guaranteed de¬
benture stock of the Vancouver Power
Co., Ltd., guaranteed
unconditionally as to principal and interest by the British
Col. El. Ry. Co., Ltd.
Preceded
only by £102,300 4H% 1st M. debentures of the Power Co.
Press reports say that 70% of the
present offering of debentures was left
in the hands of the underwriters.—V.
96, p-
1421.
Buffalo & Lake Huron Ry.—New
Coupon Sheets
The English Association of American Bond & Share
Holders, Ltd., as
London agent, is prepared to received the £466,158 2d M.
5H% perpetual
bonds and to issue new sheets of coupons therefor
(payable M. & S.).
There are also outstanding £297,600 1st M. perpetual 5H% bonds
(int.
M. & S.) and £52,513 ordinary stock in £10
shares, on which dividends of
10s. 6d. are paid annually out of £70,000 rental'from Grand Trunk
Ry.
Merger, Mortgage, tc.—Shareholders will vote'Dec. 15
on:
(1) The purchase by and conveyance to the company of the railroad and
properties of the Cincinnati Wabash & Michigan Ry. Co., the White Water
RR. Co., the Fairland Franklin & Martinsville RR. Co. and of the Cincin¬
nati & Southern Ohio River Ry. Co.
(2) The execution of instruments extending the liens of existing mort¬
gages under which are pledged any of the capital stock of any of the railroad
companies above named or the leases or operating contracts covering said
railroads, or any of them, so that such mortgages may, in accordance with
their proper rank, become liens upon the franchises and
property so to
be
conveyed.
Secretary Pardee in
It is intended
that
a
there
circular
shall
be
says:
conveyed to the company by deeds
Michigan Ry. Co., the Fairland
the railroads of the Cincinnati Wabash &
Franklin & Martinsville RR. Co. and the Cincinnati & Southern Ohio River
Ry. Co., and that the company shall take a deed perfecting the conveyance
heretofore made to it of the White Water RR.
The company owns all of
the stock of these companies, and the conveyances are to be made in
order
keeping up their separate corporate existences.
As the stocks and
leases of these companies, or certain of them, are subject to this
company's
general mortgage and to certain of the underlying mortgages, it will be
to avoid
necessary to extend the liens of those mortgages so as to include the rail¬
roads so to be conveyed.
These conveyances will
involvejno expenditure
by the
company
.—V. 97,
p.
886, 520.
•
^
.
■
(Electric) Ry.—Dividend Re¬
& Northwestern
Denver
duced—Refinancing—Assessment.—The directors on Oct. 6
reduced the quarterly dividend payable Oct. 10 from 2 to 1 %.
Company Oct. 6 1913.
in dividend from 2% to 1% was deemed prudent and ad¬
thorough consideration of existing conditions, some more
detailed reference to which will, we believe, be acceptable to stockholders.
The tax assessment on the properties of the Tramway company and its
subsidiary companies has been for several years past constantly increas¬
ing until from an assessment of $4,080,000 in 1911 and $4,782,000 in 1912,
Statement Issued by
The reduction
visable after a
$18,809,700 for 1913, in spite of the
less than they were in 1910.
While the company does not intend to accept the assessment of $18,809,700 as attempted to be fixed for 1913 by the State Tax Commission, and will
in every legal Avay resist it, the seriousness of the situation cannot be ig¬
an
attempt has been
fund requirements under the First & Ref. M. become
operative in the coming year, for which ample and timely provision must
be made by setting aside reserves beginning Nov. 1 1913.
V
Owing to the very unsatisfactory condition of the bond and money mar¬
ket during the last two years, bonds which have been accumulating on ac¬
count of improvements and additions, and which are now in the treasury,
could not be sold except at a price much less than their intrinsic value, which
has caused temporary financing and the increasing of a floating debt
'secured by such bonds and other property.
>
.
The net earnings for the 12 months ending Sept. 30 1913 have been suf¬
ficient, after deducting interest charges, taxes and other fixed charges, to
continue the old dividend rate, but for the reasons mentioned above the
dividend rate was temporarily reduced until the floating debt should be ma¬
terially reduced by the sale of treasury bonds and other free assets of the
Tramway and its subsidiary companies.
•'
This action taken has the approval of our Eastern and local bankers,
who have expressed a willingness to co-operate in such plans and financing,
and it is expected that the successful consummation of these plans will
make an increase in the dividend rate possible within a not extended time.
—V. 97, p. 236, 298, 594.
These notes
mortgage, will have, as is
namely, $30,000, of which
of the tenant companies.
For other particu¬
and for that purpose is preparing a $10,000,000
usual in such cases, only a nominal capital stock,
(Mich.) United Ry .—Back Taxes Paid.—The
paid to City Treasurer Koch on Oct. 14 $323,592
(including $04,814 interest at 6%) for taxes for the years
1910 to 1913, in pursuance of the recent settlement with the
city.
The $75,000 for back rental on Fort Street has also
been paid in pursuance of agreement. Compare V .97, p. 443.
El Paso & Southwestern Co.—Stock Increased.—
Detroit
company
The company has filed an amendment to its,charter with the State
Corporation Committee increasing its capital stock from $25,000,000 to
$35,000,000.
None of the new stock will be issued at present.
The purpose
it is stated, is merely to provide for future requirements from time to time.
See El Paso Northeastern Oo. on page 47 of
Ry. & Ind. Section."
Offered.—White, Weld
RR.—Equipment Trust Ctfs.
Harris
& Co., Brown Bros. & Co. and Drexel & Co. and the
Trust & Savings Bank, having purchased $2,250,000
equipment trust eertfs., series
price to yield 5.30%.
M. bonds.—V. 95, p. 1331..
.
-
both investment and speculation:
they are the direct, fixed, interest-bearing obliga¬
combine the advantages of
supported by its equity in the property and by its
earning capacity; and (2) the privilege of conversion (at the holders' option)
into the common stock at $50 per share (par $100) at any time up to July 1
1923, affords the opportunity to realize profits resulting from appreciation
in the market value of the stock above the conversion price.
This oppor¬
tunity for profit is enhanced not only by increasing earnings, but by the
value of the company's terminal facilities, strategic location and franchises
in Baltimore, making the stock control particularly attractive.to any new
trunk line desiring an entrance into the city.
The proceeds of the notes now issued are for the revision and straighten¬
ing of the company's tracks, the improvement of its roadbed, the purchase
of equipment, the improvement of station facilities at North Avenue, the
improvement of other stations, the installation of a signal safety system
and for other renewals and betterments, &c., on account of which about,
$40,000 have already been expended.
The balance of the notes can only
be issued for improvements and betterments.
Both the principal and in¬
terest of these notes have priority over interest payments on $900,000 in¬
come bonds
(the principal of the income bonds,, however, is secured by
mortgage).
The notes are also prior to over $1,600,000 of capital stock.'
No new mortgage can be placed upon the property ahead of these notes,
without provision being made therein for the outstanding notes.
The company, a consolidation in 1901, operates from Baltimore, Md.,
to York, Pa., about 80 miles, and owns the entire capital stock of the
Maryland & Pennsylvania Terminal Ry. Co.
The gross earnings have
increased nearly 70% and the net earnings about 100%, in ten years. Gross
receipts for the first seven months of 1913 have increased nearly 17% as
compared with the same period of 1912 and 30% as compared with the
like pbriod in 1911.
The earnings for 1912 above operating expenses and
ail annual payments on account of taxes and fixed interest-bearing obliga¬
tions show three and one-third times the amount required for internet on
the present issue of notes.
Based upon present earnings, increased effi¬
ciency and increasing traffic, the Vice-President estimates that the earnings
for 1915 applicable to interest on the present issue of nptes will be more than
4H times the amount required.—V. 97, p. 951, 887.
"
station that will be used
Erie
interest on the new 2d
(1) As an investment,
Terminal Ry —Capital Stock.—
$5,000 will be owned by each
lars see V. 97, p. 1024.
of the property and
tions of the company,
which is to provide Denver with a modern passenger
by the six great trunk lines that enter the city,
This new company,
greater part
Pennsylvania RR.—Convertible Notes Of¬
fered—Alexander Brown & Sons, Baltimore, will receive
subscriptions until 12 m. Oct. 18 at 99% and int. (yielding
6H%») f°r $300,000 6% convertible gold notes, dated Oct. 1
1913 and due Oct. 1 1923, but redeemable, all or any part,
at 1023^ and int. upon 60 days' notice, subject to tbe note¬
holders' right to convert.
Issued, $300,000; authorized,
$500,000; par $100, $500 and $1,000 (c*).
Prin. & int.
(J. & J.) payable at banking house of said bankers.
Trustee,
Merc. Tr. & Dep. Co. of Baltimore.
A circular says in subst.:
director.—V. 97, p. 298.
Denver Union
mortgage will cover the
Maryland &
President on account of ill-health,
Evans has resigned as
G.
but remains a
new
meet the
City Tram vay.—President Resigns.—
Denver
William
The
franchises now owned and hereafter acquired.
The saving In annual
interest charges from the refunding in 1908 of the $10,818,000 Met. El. 6s
into Manhattan Ry. 4s was $216,360, or precisely the amount required to
made to raise it to
The sinking
nored.
(Elevated) Ry., New York.—Proposed Sec¬
Mortgage.—The stockholders will vote Nov. 12 on making
a second mortgage to secure not exceeding $5,409,000 2d M.
4% bonds, which, in compliance with the provisions of the
lease of 1903, will be turned over to Interborough Rapid
Transit Co. on account of expenditures for improvements
and additions made and to be made.
Manhattan
ond
earnings of the company are
fact that the
1115
CHRONICLE
THE
1913.3
OCT. 18
5%
"U," are offering them at a
RR.—Decision.—Judge Holly in the
Central
Michigan
Wayne County Circuit Court on Oct. 11 held that the State
of Michigan cannot compel demmurrage rules and ohargea
to ten years and are secured on equipment pur¬
Steel Car Co., which originally took the securi¬
This is the last series of the $5,970,000 Erie equip¬
ment trusts recently authorized by the P. S. Commission, the other series
being sold by the same bankers on a 5 K % basis before- the market for
equipment trusts recently advanced.—V.97, p. 1024, 886. »
They mature from one
doing inter-State business.
chased from the Standard
for railroads
ties from the railroad.
"If Michigan, Ohio and all other States may at theirpleasure fix rates which specify the length of time a car may be held for
shipment or unloading, every day the car is held in one of these States
prevents its possible engagement in inter-State traffic and works a shortage
of cars for the general purpose of nation-wide business."—V. 97, p. 595.
Coast
East
Florida
-Earnings.—
Ry.
1912-13 _.$5,021,795
4,426,935
1,123,293
Year—
1911-12
'
•
$7,616
$726,438
572,073
Ferry.—The
late
Missouri Pacific
See
"Manufacturers' Record" of Baltimore as
proposals made for car ferry to
"Have had
ply between Key West and
ferry between the
about 90
its
a car
Key West and Havana,
Florida & Alabama Ry
company
950, 49,
Illinois Central RR.—New
.
will voto
Mortgage.—The stockholders
Nov. 14
To refund
Ohio River,
on
had under consideration for some
time the question of
rein¬
Harriman, has been elected a director to
Muscatine
Co. below as to proposed 2d
York.—
New
M.—V. 97, p. 1024, 950.
Howard Elliott and T. De Witt
Cuyler, who are directors of the New
been elected directors also of the Maine
At foreclosure sale
in Mayville, N: Y., on Oct. 7, the property
sented
set
price, subject to taxes
Divi-
Balance,
(lends.
Surplus.
$
$
of this com¬
the up¬
and receiver's certificates, by M. G. Bogue of
bondholders, under the agreement
York
Auburn
&
(7%)698,932 851,255
(6^)649,002 747,178
Lansing RR.—Plan.—The Fitz
a
plan of reorganization
dated Oct. 2 1913.
of the Auburn company
Co. and shall own the
(nominal) capital stock of the successor of the Ithaca [Co., and, after
appropriate proceedings, shall become owner of the properties of that company, including the Cayuga Lake Elec. Ry. Co. ana the Ithaca & Cayuga
Heights Ry. Co., subject to the underlying mortgages, namely Ithaca St.
Ry. 1st M. 6s, $175,000, and 2d M. 6s, $75,000, and Cayuga Elec. Ry.
1st M. 6s, $25,000.
[The Ithaca St. Ry. properties are advertised to b*
sold under 1st M. at Ithaca o* Dec. 30.]
entire
•
New York, representing the agents of the
dated Aug. 26.—V. 97, p. 950, 729.
& St. Louis Ry.—Earnings.—
Earnings.
After foreclosure, it is proposed that the successor
take a lease of the properties of the Ithaca
shall
<
Its allies, the Jamestown & Chautauqua Ry.
Co., were bid in for $10,000 each,
Ry.—New Officers.—
committee, representing the 1st M. 5s of this company and
also the first consol. 5s of the Ithaca Street Ry., has pre¬
Central RR.
Edward B. Winslow and Hugh H. Chisholm succeed Lucius
Tuttle and Alexander Tuttle of Boston, who resigned.—V. 97, p. 949, 729.
pany and also the prbperties of
and the Chautauqua Steamboat
South
Net
Other
Int., Taxes
Earnings. Income. & Rents.
Year—•
$
$
$
$
1912-13—13,317,161 2,878,378 622,036 1,850,227
1911-12 —12,262,675 2,883,804 373,221 1,860,845
—V. 97, p. 176.
E. H.
Chautauqua'& Lake Erie Uy.—Sold.—
&
Gross
Directors.—Changes announced:
Jamestown
North
Nashville Chattanooga
June 30.
Maine Cent. RR.—New
York New Haven & Hartford, have
stock, payable Nov. 1 to holders of
comparing with 1^% in July and 2%, the
in July last.—V. 96, p. 1840.
E. IT. Ryan has been elected President to succeed
Charles N. Voss, Vice-President and Treasurer,
in place of D. H. McKee, who resigned, and H.B. Holbert, Vice-President
and Traffic Manager, Secretary, to succeed J. A. Coe, and Auditor in place
of A. H. Kohiammer, both of whom resigned.
Headquarters, Musca¬
tine, Iowa.—V. 93, p. 1534.
succeed A. G. Hack-
Interborough Rapid Transit Co., New
See Manhattan Ry.
'
.
Charles Howard, resigned;
staff, deceased.—V. 97, p. 1024, 887.
•••*
.
Changes announced:
provide for refunding about $51,000,000 bf their outstanding bonds, and
make available about $42,000,000 bonds to which Illinois Central is entitled
on account of advances made for purchase, construction or improvement,
providing also about $27,000,000 for future additions, betterments, &c.
With this end in view, negotiations are in progress for creation by Chi¬
cago St. Louis & New Orleans RR. and other subsidiaries of a mortgage or
deed of trust covering respective properties and franchises now owned or
hereafter acquired to secure an issue of bonds limited to aggregate amount
of $120,000,000, or such other amount as may hereafter be determined.
A. Harriman, son of the late
1022.
the $5,000,000 common
record Oct: 27,
initial payment,
forcing some of our Southern lines, and we fell that we should be in a posi¬
tion to market securities covering them when opportune time arrives.
We
have under consideration, a mortgage on the Southern lines which would
New Director.—William
^
Monongahela Valley Traction Co., Fairmont, W. Va.
—Dividends.—A dividend of llA% has, been declared on
President Markham says:
We have
.
made of the heaviest quality
ffame cars.r—V. 97, p.
making a new mortgage to secure
bonds to be used as follows:
previous issues, $51,000,000; to purchase lines south of the
$42,000,000, and for future improvements, $27,000,000.
on
issue'of $120,000,000
an
.
of steel and will have
keep them cool in
electric lights, &c.
The solid through trains which are to be run from St. Louis to the Pacific
Coast over the Missouri Pacific, Denver & Rio Grande and Western Pacific
railways will be made up entirely of all-steel cars.
The express trains from,
St. Louis to Kansas City and the West and from St. Louis to Texas, the
Hot Springs specials from St. Louis and from Kansas City and. the trains
run over the Mo. Pac. between Kansas City and Omaha operating in con¬
junction with the Ch. & N. W; in the through service between Kansas City
and St. Paul and Minneapolis will be composed of all-steel and steel-under-
miles.—V. 97, p. 950, 666. •'<
—V. 97, p.
service.
These cars will be
six-wheel trucks, modern insulation and ventilation to
summer and warm in winter; non-telescoping devices,
—Descriptive Statement —
is issuing an interesting statement regarding
plans and prospects.
Further particulars another week.
Gulf
*
'The
/
southern end of the road at
for passenger
vessels
loaded
Havana, but have not yet accepted any of them."
Plans called for
1415 feet long, 58 feet beam and speed 15 miles per hour, to carry 36
freight cars."
This is in accordance with the original plan to have
and in V. IT, p. 1022.
Service to Pacific Coast, &c,
—In addition to the' steel cars and steel underframe baggage
cars and coaches which the road already operates, President
B. F. Bush of the Missouri Pacific-Iron Mountian has given
instructions to let contracts for 100 additional all-steel cars
the
President Parrott informed
follows:,
Ry.—Annual Report.—
reports above, also on a subsequent page
Additional Steel Cars—Through
President and Gen.
of President .—John R. Parrott,
Mgr., died on Monday.
Death
Car
Bal.,
Surp.
$500,000 ,$40,431
500,000
51,220
Other
Interest, Income Int.
Inc. Rentals, &c. (2!^%).
Net
Earnings.
$1,259,254
Gross
Earnings.
June 30.
;
<
The Court says:
1116
THE
CHRONICLE
Pro-posed Capitalization of Successor of Auburn Co.
Pref. stock entitled to cumulative divs. during 2d year from issue,
aggregating 2%; 3d year, 2%; 4th year, 3%; 5th and 6th
years, 4%,
and thereafter, 5% per annum.
Also entitled
from 2d to 6th years
up to 5% if earned ahead of common
stock, and to share pro rata in all divs. in any year after 5% on
each class.
No voting power, but to have full
voting rights
while any pref. div. is overdue.
Callable, all
or
anypart, at:
110 and divs.
Total auth., all issuable in exchange, $ for $,
for disturbed bonds of the two
companies
$1,450,000
Common stock, total auth., $2,550,000, issuable
per plan to facili¬
tate sale of the $1,000,000 new bonds and for
expenses, &c.t of
reorganization
1,000,000
First &
Ref. M. 5% gold bonds, total auth., $4,000,000, to be sold
(with aid of com. stock) at not less than 80%, to provide for
costs of reorganization, payment of receivers'
certificates [of
which $85,000 were sold early in 1913 to
purchase the Rem¬
ington power plant and $90,000 have Deen authorized and will
be sold to improve same], &c
1,000,000
_
To be reserved to retire at
or
_
_
_
before maturity said
$275,000 undisturbed bonds
To be issued only for future
extensions,
and improvements
$310,000
additions
2,690,000
Note.—The Ithaca Co. will be reorganized with nominal capital stock, all
owned by the new Auburn Co.
The holders of the $975,000 1st M. Auburn bonds and $475,000 consols
of the Ithaca, if
deposited with all overdue coupons attached, will receive
in exchange for the principal of said bonds an
equal face value of pref.stk.
The plan will be effective and binding on all
depositors if assented to by
depositors representing two-thirds of each class of the deposited bonds.
Depositary, Columbia-Knickerbocker Trust Co., N. Y.
See also com¬
mittee, V. 96. p. 1022.—V. 97, p. 951.
'
New York Central & Hudson River RR.—Meeting Adjourned.—The meeting of shareholders to authorize the new
mortgage, which was postponed to Oct. 16,.has been again
adjourned to Oct. 30, to await the approval of the P. S. Com¬
mission. " See V. 96, p. 1424—V. 97, p. 729, 365.
New York New Haven & Hartford RR.—Convertible 6%
Debentures
Offered—The Mass. RR. Commission, having
given its assent to the issue, the company on Oct. 15 offered
to the holders of record on Sept. 9 both of its
capital stock,
Sy2% Convertible Debenture Certificates (convertible Jan. 1
1911 to Jan. 1 1916) and 6% Convertible Debentures
(con¬
vertible Jan. 15 1923 to Jan. 15 1948), for subscription at par
before Nov. 15, its $67,552,000 Convertible Debentures
1913, to the extent of 33 1-3%, 22.22 + % and 33 1-3%
of their respective holdings.
on or
of
All holders of coupon 3^ % convertible debenture certificates or
coupon
6%
convertible debentures having coupons attached, whether registered
principal or not, will have a similar right of subscription, provided they
present such debentures on or before Nov. 15 1913 for stamping as having
exercised the right of
subscription, at the offices of the Treasurer in New
Haven, Grand Central Terminal in N. Y. City or South Station, Boston;
or at Bankers Trust Co.,
N. Y. City; Old Colony Trust Co., Boston;
Rhode Island Hospital Trust Co., Providence; Hartford Trust
Co., Hart¬
ford; Union Trust Co., Springfield, Mass.; Morgan, Grenfell & Co., Lon¬
don, or Morgan, Harjes & Co., Paris.
•
Subscriptions must be paid at some of the places above mentioned either
in full on or before Nov. 15 1913, with interest at
6% per ann. from Oct. 1
1913 to Nov. 15, or in two payments, viz., 65% Nov. 15 1913, with inter¬
est at 6% per ann. on the amount paid, from Oct. 1
1913 to Nov. 15 1913,
and 35% Jan. 15 1914, with interest at
6% on the amount then paid
to
as
»
from Oct. 1
1913 to Jan. 15 1914.
•
V
debentures will be dated Oct. 1 1913 and payable Oct. 1 1933.
Convertible after Oct. 1 1918 and not later than Oct. 1 1928 into shares of
The
.
«,
new
the
capital stock, par for par, with an adjustment of interest and dividend.
Par, c* $1,000; r* $100, $1,000, $10,000.
Principal and interest will be
payable at option of holder in London, in 'sterling, as set forth |in trust
indenture.
In case the company shall hereafter create any
mortgage upon its now
existing main line of railroad between Woodlawn in N. Y. City and Spring¬
field, Mass., or between New Haven and Providence, such debentures
shall, without further act, be entitled to share, so. far as lawfully may be,
in the security of such mortgage pro rata with any other
obligations that
may be secured thereby and any such mortgage shall expressly so provide.
The holders also will enjoy, until Oct. 1 1928, a right of
subscription to
any future issue of capital stock to the same extent as if holders at the time
of such issue of the shares of the capital stock to the future
delivery of which
they are entitled.—V. 97, p. 1025, 1020.
New York
See
Railways.—Transfer Plans,—
"Rapid Transit in New York City'
Northern
Ohio
•
bankers
have
issued
an.
illustrated
circular
about
the
property,
showing the new Gorge power plant, with sub-stations, which cost approxi¬
mately $2,000,000, and has a present capacity of 38,500 h. p., with ultimate
capacity of at least
60,000 h.
p.
The hydraulic installation has a
capacity of 3,000 h. p.
The circular says: "It is probably the most efficient
of its type in the country.
So nearly automatic is the operation of this
station that a crew of only 14 men is required, one fireman, 5 electrical
engineers, and the others foreman, porter and laborers.
The purchase of
additional rolling stock, construction qf storage barns and modern car re¬
pair shops, &c., represents the investment during the year 1913 of an addi¬
tional $1,000,000."—V. 97, p. 1025, 803.
Oakland
(Cal.) Railways.—Financing Arranged.—R. G.
Hanford on Sept. 29 withdrew his suit to enjoin the renewal
of the $2,500,000 note dated Aug.12 1912, due June 12 1913.
Arrangements are being made to .borrow a further $500,000 forbetterments
new construction work and to extend till Sept.
12 1914 the aforesaid
$2,500,000 note and to continue the guaranty on the $1,100,000 Oakland
Terminal Co. notes which matured Aug. 20 1913 (V. 95, p. 619,
544).
The
shareholders will vote Dec. 11 on propositions: (a) Confirming an indebted¬
ness of $2,500,000 6% notes, dated Aug. 12 1912, and the
liability under
its matured guaranty of the $1,100,000 notes of the Oakland Terminal
Co.,
which notes are dated Aug. 20 1912.
(b) Increase such indebtedness to
the sum of $4,100,000.
(c) Ratify the payment of the said $2,500,000
notes on Sept. 12 1914.
Mr. Hanford has until Jan. 1 1914 an option to
purchase all the interests of P. M. Smith in the United Properties Co. of
California for $4,500,000.
See San Francisco & Oakland Terminal Rys. be¬
low; also compare V. 97, p. 597.—V. 97, p. 596, 521.
and
Philadelphia Company, Pittsburgh, Pa .—Purchase of
Monongahela Natural Gas Through Subsidiary—Latter to Issue
$1,500,000 Bonds.—Pres. J. H. Reed confirms the following:
Negotiations have been practically completed for the purchase bv the
Fairmont & Grafton Gas Co., a subsidiary of the
Philadelphia Co. of West
Virginia, of practically all of the stock of the Monongahela Natural Gas
Co. of Pittsburgh.
The Monongahela supplies several Pittsburgh indus¬
trial concerns and a small number of private consumers, and has in no
way
been a competitor of the Philadelphia Co. ?The purchase will be made for
the purpose of securing the use of the Monongahela Co.'s big
pipe line from
Pittsburgh to the' West Virginia State line, which has a surplus carrying
capacity of 30,000,000
cu. ft. of natural gas a day.
This will insure the
bringing into Pittsburgh this winter of a largely increased quantity of g&s
without the necessity of laying a new pipe line.
rr3Lwli1 Pr°bably be changed
to the Pittsburgh & West Virginia Gas Co.
nnl inn
aon^a'lf)'a -^at- **as Co. was recently reported as having $1,000,000 cap. stock and to be serving 628 domestic consumers and
10 manu¬
factories through 101 miles of
pipe line, the value of gas supplied for year
being $316,207.
Supplies South Side of Pittsburgh and neighboring bor¬
oughs in Pa. and Pondtown, Pentress and Metz in
W. Va.
President,
Henry Oliver.—Ed.]—V. 97, p. 666, 596.
Rapid Transit in. New York City.—Contracts.—
The
P.
S.
Commission yesterday decided to advertise for bids to be
opened Nov. 18 for the construction of the exterision of the
Steinway Tun¬
nel in Queens
Borough, \y% miles in length, to connect with the Queensborough Bridge at Ely Ave. and to be known as route No.
50.
The plans
call for a
two-track road to be part subway and part elevated, and to be
operated by the Interborough Rapid Transit
Co., from whose contribution
toward the
cost of construction
of the new dual system of
subways the
will come.
The deed conveying the Steinway Tunnel
York & Long Island RR. to the
Interborough Company,
preparatory to its transfer to the city under the dual system
contracts, was
money
from
filed
required
the New
on
Thursday.
'+.
Thursday approved.the plan under Which
.
_
The Board of Estimate on
sengers may ride to or from Staten
the New Vork
pas-
Island, using the ferry and the lines of
Railways Co. for a single 5c. fare, 2 J. to go to the city for
the ferry ride and 3c. to the
railway company.
The recommendation is
subject to the confirmation of the
Sinking Fund Commission.—V. 97
1025, 888.
p.
San Antonio Uvalde & Gulf RR.—Details
The
^
Texas
of Bonds.—
RR. Commission recently authorized the issu¬
$800,000 bonds, making the total amount outstand¬
ing $3,663,000.
The bonds are part of an issue of 1st M.
5%
30-year gold bonds dated Feb. 1 1913, limited to $13,500,000,
mortgage, trustee, Bankers' Trust Co. of St. Louis.
.
of
ance
The company was originally
organized under the laws of Texas on April 19
1909 as the Crystal City & Uvalde RR., arid the name.later
changed.
The
road owned extends from San
Antonio, Tex., to Crystal City, 144.07 miles;
Uvalde to Carrizo Springs, 53
miles, and Pieasanton to Mikeska, 61.39
total, 258.46 miies.
Stock
auth., $315,000;
issued, $230,000.
President, A. R. Ponder; Sec., C. F. Groos, both of San Antonio, Tex.;
Treas., C. S. Marsh, St. Louis, Mo.; Auditor, T. S. Ford,
Crystal City,
Tex.—(V. 97, p. 1025, 888.)
miles;
San Francisco-Oakland Terminal
Rys.—New Securi¬
ties.—The shareholders will vote Dec. 10 on the
following
matters, the
new bonds and notes presumably to be used as
collateral in connection with the renewal of
$3,600,000 notes
of the United
Properties Co. system and the issuance of
$500,000 additional notes (see Oakland Rys. above):
(а) Increasing the bonded debt (which now consists wholly of bonds
by other corporations whose properties the said corporations has
acquired) from the amount now existing (say $20,184,000) to $21,184,000.
(б) To ratify the indebtedness of said corporation represented by a
promis¬
issued
sory
note of $2,500,000,
heretofore issued
by it and payable to Oakland
Railways, and also represented by a promissory note of $128,814 hereto¬
fore issued by Oakland Traction Co.
and for the payment of which note
San Francisco-Oakland Terminal Rys. has become
liable, and which note
is payable to the United Properties Co. of California.
(c) To increase the indebtedness of said corporation so represented
by
the said $2,628,814 promissory notes
payable to Oakland Rys. and, to the
United Properties Co. of California, to the sum of
$3,128,814 (i. e., by
$500,000).
(d) On renewing or extending the time for the payment of all or any of
such promissory notes.
The new bonds to be issued and the notes given in] renewal or extension
to be secured by mortgage or
pledge or both as the .sahreholders or direc¬
tors shall prescribe.—V.
97, p. 522, 118.
.
Southern Pacific Co.—New Government Suit Imminent.—
It
reported-this week that Attorney-General McReynolds
definitely decided to bring the long-contemplated suit
to cornpel the company to divest itself of its control of the
Central Pacific and that the bill of complaint will be filed
very
shortly—V. 97, p. 803," 730.
\
was
has
over
Traction &
xcvii.
J invoIves the issue by the Fairmont & Grafton Gas Co. of $1,500,000 of collateral trust bonds,
payable in equal installments over a
period of ten years.
The Monongahela Co. has a large amount of
pro¬
ductive natural gas territory—over
125,000 acres under lease, principally
in
Greene County, Pa.
It owns 169 natural gas wells and eleven prowellsThe name of the Fairmont & Grafton Gas Co.
[whose
3,000 shares of capital stock were all owned
by the Phila. Co. March 31
Southern Traction Co .—Line
below.—V. 97, p. 725.
Light Co.—Bonds Sold.—
The company has sold $300,000 4s and $35,000 CantonAkron consolidated guaranteed 5s.
Pref. Stock Offered.—Borton & Borton of Cleveland are
offering the 6% cumulative pref. stock, of which $3,000,000
in all has been approved by the Ohio P. U. Commission
and $2,640,000 has been sold:
The
[Vol.
the
new
interurban
about 100 miles,
line
operated
was
Opened.—The first train
Waco and Dallas,
Sept. 30.
between
on
Power will be furnished at present by the Fort Worth Light & Power
Co.,
but when the new central generating plant of the Texas Power & Light Co.
at Waco is completed, will be furnished by that company under the 50-year
contract with it
(V. 95,
Southwestern
970).—V. 96,
p.
Traction
p.
286.
Co.,
Temple,
Tex.—Stock
Increased, &c.—The company on Oct. 8 filed in the office
of the Secretary of State of .Texas a notice of increase of
authorized capital stock from $165,000 to $3,500,000.
An amendment of the charter was also filed providing for proposed exten¬
sions from Temple to Waco and from Temple to Austin, a total of about
100 miies.
Surveys for the proposed extensions"have, it is reported, been
completed and most of the right-of-way secured.
Construction work will
be started soon.
Of the new stock $1,665,500, it is stated, has been sub¬
^'Compare statement in "Electric Railway" section of Sept. 27
1913, page 131.
'
scribed.
.
28th & 29th Streets Crosstown RR.,
New York.—
A. S. Gilbert, counsel to the bondholders' committee, 43 Exchange
Place, N. Y., gives notice to the holders pf undeposited 5% gold bonds that
the bondholders' committee has begun ah action against the New York
Railways.Co. to impress a lien on the assets of said company in favor of the
bonds.
Holders of undeposited bonds who desire to avail themselves of
such suit are requested
to communicate with him at said address. '
The minority bondholders (John W. Hamer et al) recently began a suit
in the U. S. District Court to have the plan of reorganization of the Metro¬
politan St. Ry. Co. and its subsidiaries under the present name of New York
Railways set aside.
They ask for the appointment of a receiver for the
New York Railways Co.; adjudication that the transfer of the property of
the Metropolitan Co. to New York Railways is null and void,
the issue
of New York Railways securities is illegal and the property should be sold
under judgment of the Federal Court.
The complaint is based on the fact that under foreclosure sale the Crosstown Ry. realized only $50,000, and there was a deficiency of $1,745,342
on the $1,500,000 bonds
which were guaranteed by the Metropolitan Co.
When the Metropolitan St. Rys. was reorganized into the New York Rys.
Co., no provision was made for payment of the deficiency, although judg¬
ment was entered for it against the Metropolitan in favor of the Central
•
Trust Co.
There is an application before the Public Service Commission for permis¬
sion to sell the reorganized Mid-Crosstown Ry. to the Third Avenue Ry.—
V. 96, p. 420.
United
Properties Co. of California.—Securities.—
See Oakland
Rys. and San Francisco-Oakland Terminal Rys. above.—
V. 97, p. 597.
'
*
•
Wheeling & Lake Erie RR.^—Earnings.
Gross
June 30 Year— Earnings.
1912-13_$7,831,948
1911-127,498,147
-
—V. 97, p. 367.
Net (after
Taxes).
$1,583,308
2,094,362
Other
Income.
$31,101
24,157
K
~
Interest,
Rentals,&c.
$1,501,404
1,400,402
Balance,
Surplus.
$113,005
718,117
Oct. 18
nformation
INDUSTRIAL, GAS AND MISCELLANEOUS.
Co. of Birmingham, Ala., incorporated in Alabama
$20,000,000 capital stock (in $100 shares), is a merger of the subsidi¬
companies named below, in accordance with agreements ratified by the
directors of the several companies July 28.
Of the authorized capital stock,
$9,975,000 ha-v now been issued and is wholly owned by the Alabama Trac¬
tion, Light & Power Co., which will also own and pledge as part collateral
under its mortgage of 1912, along with said stock, the bonds of the Alabama
Power Co. when and as issued.
Frank 8. Washburn of Ndshvule, Pres. of
the Am. Cyanamid Co., has bOen elected Pres. of the Alabama Power Co.
James Mitchel remains Pres. of Alabama Traction, Light & Power Co.
The following amounts of stock of the Alabama Power Co. were issued
in the merger to the several constituents as consideration for their properties.
viz.: The Alabama Power Co., 70,000 shares; the Alabama Electric Co.,
20,000 shares; Wetumpka Power Co., 7,500 shares; Alabama Power &
Electric Co., 250 shares, and Alabama Power Development Co.
2.000
shares.
The officers are: Frank S. Washburn, Nashville, Pres.; W. W.
Freeman of Birmingham, V.-Pres., and Gen. Man., and Fred. S. Ruth
of New York, Sec.-Treas.
...
.
The Alabama Power Co. is engaged in the Lock 12 development on the
Coosa River and the Alabama Electric Co., Wetumpka Power Co. and Ala¬
bama Power & Electric Co. owned undeveloped power sites on the Coosa
River.
The Alabama Power Development Co. owned a small hydro¬
electric plant In Talladega County, from which it served the city of Talla¬
dega, and owned the auxiliary steam plant at Gadsden.
All of these comThe Alabama Power
Alexander Robertson, Assistant to B. F.
The joint agreement authorizes the Alabama Power Co. to issue bonds
extent of $20,000,000, secured by a mortgage on its properties.
has
been
secured
by
several
the
to
A
companies
Ala. Trac.. Lt. & Power Co., Ltd., and part of the funds
by the bonds under this mortgage.
See map,
thus obtained will be secured
&c.t pages 131 to 134 of descriptive section of "Manufacturers' Record" of
Baltimore for March 27 1913; also "Electrical World" of N. Y. Sept. 13.
In Sept. 1912 the Ala. Trac., Light & Power Co. interests purchased
from the Electric Bond & Share Co. the Alabama Power Development Co.,
which absorbed the Talladega EI. Power Co. and Etowah Lt. & Power Co.,
Talladega, Ala.; Anniston (Ala.) El. & Gas Co.; Little River Power Co. and
various other water-power and electrical plants and railways at Anniston,
Decatur, Gadsden,Talladega and other cities; also Huntsville Ry,. Lt. & P.
Co. (7K miles of trolley line and electric-lighting system).
The Alabama
Power Co. is not interested in the Birmingham Ensley & Bessemer Elec. Ry.
(V. 96, p. 1563), except as it may become a customer for electric power.
Rapid progress is being made with the hydro-electric development at
Lock 12 on the Coosa River.
This development is the only work in pro¬
immediately contemplated.
The first Installation will be 70,000
in four units of 17,500 h. p. each, the dam being about 1,550 feet
gress or
h.
p.*
long by 85 feet high, and is expected to
be completed by Jan. 1914, im¬
At Gadsden the company has itsplant, generating electricity, and is now distribut¬
ing therefrom some 10,000 h. p. to the Birmingham district, Sylacauga,
Talladega, Alexander City, Pell City, Leeds and Gadsden.
The construc¬
tion of the transmission system from Lock 12 is nearing Bessemer, and the
public utilities heetofore purchased are now being operated.
While the contract to furnish a minimum of 20,000 k. w. electricity to the
Birmingham Ry., Light & Power Co./subsidiary to the American Cities Co.,
has not yet been signed, an agreement with respect to same has been reached,
subject to ratification by the respective boards of directors.
pounding 2,500 million cu. ft. of water.
emergency steam-power
Sites Owned for Hydro-Electric Development? April 1913.
[Representing maximum available power at 40% load factor when storage
reservoirs contemplated by United States have been built.]
Location—Distance from—
Birmingham. Montgomery.
Coosa River, Lock 7—
Coosa River, Lock 12 (now
Coosa River, Lock 14__
Coosa River, Lock 15.—
Coosa River, Lock 18
28
building)
38
——43
-—57
—65
76
45
41
27
18
—
-
.
—
Tallapoosa River, Cherokee Bluffs site
76 Tennessee River, Muscle Shoals site (150 m.from
Memphis, 128 from Chatt., 103 from Nashv.)98
Sautty Creek (35 miles from Gadsden)__
80
Town Creek (30 miles from Gadsden)
-75
Little River (34 miles from Gadsden)
88
Choccolocco Creek (32 miles from Gadsden)
37
Surveys have been made for transmission lines from
A dividend of 5H % has been declared on the $1,000,000 7% cumulative
pref. stock, payable Dec. 1 to holders of record Nov. 1.
This covers the
9 months since the organization of the company on Feb. 1 1913.
See bond
offering, V. 96, p. 1231.
A. E. Borie, former Vice-President of the Bethlehem Steel Co., has been
450,000
6,000
7,000
See "Annual
by
143
52,000
.82
2,000
Lock 12 to Mont-
of Oxmoor.
A line is to be erected from
fields and from Bessemer to Tuscaloosa.
way
The plans, it is said, provide for the erection
mission lines, to cost about $3,000,000.
of
a
total of 229 miles of trans¬
•
Capitalization of Alabama Traction, Light & Power
Authorized.•
Co.
.
Issued.
stock, 6% cumulative
$5,000,000
$1,000,000
Common stock, in shares of $100 each.
25,000,000
12,000,000
1st M. of 1912 5% 50-yr. gold bds. (V.94tp.62S,981)25,000,000
10.000,000
English capitalists interested in the company purchased in Dec. 1912 a
large block or stock (reported as 50,000 shares) in the American Cities Co.
See V, 96. p. 1014, 1028, 715: V. 97, p. 594.
See also V. 94. p. 628, 981;
V^95. p. 234. 617. 1471; V. 97. p. 367.
;
\
Preferred
Of such increase,
Total net
,
created
— — -
•
a recurrence
discuss intelligently the recently promulgated scheme
of the idea of Government ownership which has come up at
and so long as the business
t'.'
°
[T. W. Bowen & Co.», 53 State St., Boston, have issued a circular pointing
out the strength of the company's position.]—V. 97, p. 1026.
American
Water-Works
Committee.'—The
the
&
Guarantee
committee named
Co.—Protective
below asks deposits of
following guaranteed bonds with the Safe Deposit &
Pittsburgh, other depositaries to be named later:
Trust Co. of
Twin Falls-Oakley Land & Water Co. (V. 97,
Twin Falls-North Side Land & Water Co. (V. 97, p. 600); Twin
River Land & Water Co. (V. 96, p. 1777), and Sacramento
Valley Irrigation Co. (V. 97, p. 600).
Committee: G. L. Edwards, of A. G. Edwards & Sons of St. Louis, Chair¬
man, and H. C. Ward of Pittsburgh, Sec.; Robert Wardrop, Pres. People's
Nat. Bank, Pittsburgh; E. F. Shanbacker, Pres. Fourth St. Nat. Bank;
Phila.; Allan Forbes, Pres. State St. Trust Co., Boston; Haydn S. Cole,
Pres. Northwestern Trust Co., St. Paul; M. B. Moon, V.-Pres. First Nat.
Bank, Detroit; J. H. Puelicher, Cashier Marshall & Illsley Bank, Mil¬
waukee; W. A. Durst,-V.-Pres. Minnesota Loan & Trust Co., Minneapolis;
A. B. MacCaughey, Chicago; Warren J. Davis, Pre?. Manufacturers' Nat.
Bank, Racine, Wis.; L. L. McClelland, Pres.,J. S. & W. S. K.uhn, Inc.,'
Pittsburgh.
•
•
•
The intention is to reorganize the more or less burdensome irrigation
properties independently, separating them from the water-works, electric
light and power and electric railway properties, none of which, it is stated,
has defaulted on coupons or dividends on bonds and pref. stock, respec¬
tively, held by the public.
See also California-Idaho Co. below; also defaults on two issues in V. 97J
p. 952, 1026.
Bonds to be deposited:
954):
p.
Falls-Salmon
1,091,783
410,000
„
$398,522
.
'
of Bonds.—
American Window Glass
Co., Pittsburgh.—Dividend.
A dividend of 7% has been declared on the $4,000,000 7% cumulative
preferred stock, payable Nov. 25, being the first payment since March 1903,
when 3J^ % was disbursed; 7% was paid in each of the years 1900 to 1902,
inclusive.
The arrears now amount to 70%.
667.
Steamship Co.—Pan. Canal Service.
The company expects to have a fleet of 26 vessels with a total capacity
of 270,000 tons, ready for operation through the Panama Canal early next
The
following statement has been issued
"Money has been provided for
the retirement of $279,000 of the company's bonds.
The stockholders au¬
thorized an issue of $2,791,000 of 6% bonds for re-financing purposes on
spring by the time the canal is fully opened, four of the eight new boats
being already in use.
The new vessels are being paid for out of earnings,
no new
fixed obligations or new stock having been issued on account of
same.
Sailings every three days from N. Y. and possibly from other
April 10 1912.
The terms of the issue provide for an annual sinking fund
equal to 10% of the issue to be set aside each year for the retirement of
the bonds.
The first sinking fund payment was made in February this
year."—V. 97, p. 48.
proposed in place of present two vessels every 11 days.
Outstanding capitalization Oct. 1 1913: Capital stock,J$5,000,000 in $100
6% per ann. 1903 to 1910; since 7%); Series A 6s due 1914
($90,000 paid yearly), $90,000; Series B 6s due 1916, $140,000 yearly),
$420,000.
Pres., G. S. Dearborn; Treas., E.'D. Douglas, N. Y. City.
See V. 91, p. 1465; V. 95. p. 421.
Atlantic ports are
American Woolen Co.—Circular.—Pres.
shares (divs.
We have
The
is
tariff.
Wood
says:
All criticism of the bill, pro and con, is of the past.
settled—it
is
as
desired
by
the majority—it
is the law.
American people are accustomed to taking conditions as they find
forcing their way to success.
Our forefathers hewed the forests,
quarried the rock and dammed the streams.
Their sons developed the land,
raised their live-stock and manufactured what was required for their simple
needs.
Succeeding generations tilled the soil, worked the mines and manu¬
factured goods, to a degree never before known to man.
*
•
The
.
a new
matter
them and
Pamphlet.—
ipany, operated by Kelsey, Brewer & Co. of Grand
Mich., has issued an illustrated pamphlet giving
&
need have any
apprehension as to the future,
is conducted on the present lines of policy.
$619,961, and products, materials and supplies, $5,138,451; ac¬
receivable, $1,472,090; property account, $46,631,409; investments,
$1,515,710.—V. 95, p. 1747.
663, 178.
intervals for the last 40 years, and is a personal bill and not Governmental.
If the Government should go into the telegraph or telephone business,
it would be after a very long discussion, and if it was on the basis of pur¬
chasing our property, our shareholders would be amply protected and would
receive full value for their stock on any estimate that could be sustained,
as our valuations are conservative and our outstanding securities do not
represent the full value of our plant.
•
•:
The idea of going into competition of course is out of the question;'
To attempt destructive competition and destroy existing property of course
is something that would harldy be considered, and even if attempted could
not succeed, if it could succeed at all, without the expenditure of vastly
more capital than would be required to purchase the existing properties.
Our shareholders should remember, in this connection, that it would be
difficult to create or maintain any more severe competition than that which
has and which to a certain extent now exists, and which has cost to create
many hundreds of millions of money.
I do not think our shareholders
Purchase-money
American Public Utilities Co.—Descriptive
p.
Telephone
It is impossible to
In bank,
American Hawaiian
position.—V. 97,
American
counts
See Electric Co. of America below.—V. 97, p.
.V;.'./-''-:
,
$17,659,000; less
pledged for bank and other advances and on hand, $3,659,000; outstand¬
ing, $14,000,000;
debentures (City Sault Ste. Marie, Ont.), $202,329;
bank and other advances, $3,150,204; accounts payable, $1,649,586; bal.
due to Lake Superior Corp., $957,677.
On the other hand, there was cash
American Gas & Electric Co.—Exchange
$1,200,000 will be offered to stockholders of record at
American Smelting & Refining Co .—New Officer.*—
'
Simon Guggenheim; who has been a director and until recently aU.S.
Senator from Colorado, has been made Chairman of the board, a newly-
M.
Balance, surplus, for year
Balance sheet of June 30 1913 shows outstanding:
bonds, $5,800,000; First & Ref*. M. 50-year 5s, issued,
pro¬
outstanding gold notes as they mature (V. 94, p. 1058), provides $300,000 additional working capital and leaves the increased earnings to the
liquidation of all outstanding indebtedness, which, under even fair con¬
ditions, should be accomplished by the time the gold notes are paid off
and dividend stock issued, leaving the company free of indebtedness of
every kind by Oct. 1 1915, and with an earning capacity of at least twice
the dividend requirements.
Advance subscriptions insure the success of
the plan as a whole.
v
,
For the year ended June 30 1913, net earnings applicable to dividends
were in excess of $1,000,000 (see report above).
It is estimated that, with
normal business conditions during the next three years, net earnings will
be gradually increased until by June 30 1916 they will have more than
doubled.
In that event your company will have a surplus of approxi¬
mately $5,000,000 oh June 30 1916 after stock dividends have been paid.
—V.97,p.888.
' '
:
on
Ref.
;
Oct, 11 ratified the
for
.—$1,900,305
-
(a) purchase-money 5% bonds, $290,000;^ (&)
5s, $679,631; (c) city debentures, $10,148;
(d) bank and other .advances, $211,528; total, $1,191,307; less
charged to capital, $99,524--Pref. dividend paid to Lake Superior Corporation
—
Int.
on
equal to 20% of their present holdings, payment to be made in five equal
installments, covering a period of 21 months from Dec. 1 1913.
The sale of $1,200,000 common stock at $150 per share makes provision
Output and Income Account Year Ending June 30.
Income Account—
1912-13.
Output—
1911-12 1912-13
$1,748,221
Pig iron, tons
258,979 326,073 Net from operations
Steel rails, tons
152,084
241,729 289,343 Dividends, int., &c—1—
Merch. mill, tons
39,466
26,295
&
preceding page.
$150 per share; and $1,600,000 will be reserved for a stock dividend to be
paid at discretion of the board. The stock dividend when paid will be ap¬
plicable to the new issue above noted, as well as to the old.
Stockholders
will be entitled to subscribe for $1,200,000 of the new stock in amounts
.
First
on a
shareholders
position to increase the authorized capital stock from $6,000,000 ($800,000 pref.) to $8,800,000 (in $100 shares),
by the addition of $2,800,000 new common stock.
Pres.
George M. Verity Sept. 25 wrote in substance:
Algoma Steel Corporation.—Earnings, &c.—This sub¬
sidiary of the Lake Superior Corporation reports as follows,
1912-13 being the first full year of operation:
Deduct-
Reports"
New Stock.—The
is
•om
Bessemer to Cordova in the coal
Mill Co., Middletown, O.—Report.^*
American Rolling
of government ownership or operation of wire systems, which seems to be
of disputed parentage." The bill which Mr. Lewis proposes to introduce
Sornery, from Lock 12 to Sylacauga, from Calera. from Calera Talladega,
Talladega to Anniston, from Lock 12 to the latter place to to Helena,
and thence to Birmingham
1231.
elected Chairman of the board.—V. 96, p.
100,000
h
180
150
140
„
.
Months1 Dividend.—
Telegraph Co.—Government
Ownership—Statement by President Vail to a Shareholder..—1
President Vail, replying to a letter dated Oct. 9, said:
115,000
,
Drew, V.-Prest. of Missouri
667.
• '
HorsePow.
45,000
105,000
100,000
80,000
32,
•
Bush, President of the Missouri
American Road Machinery Co.—9
ae
the
Refrigerator Transit Co.—New Officers.—
American
•
Pacific, has been elected President and J. G.
Pacific, has been chosen V.-Prest.—V. 97, p.
Alabama Traction, Light & Power Co., Ltd.
Sanies have since the early part of last year been under the management of
money
controls and operates:
Light Co. of Indianapolis, Ind. (V. 97, p. 890),
acquired the People's Light & Heat Co. (V. 97, p. 822) of
that city; Elkhart (Ind.) Gas & Fuel Co.; Valparaiso (Ind.) Lighting Co.
(V. 83, p. 499); Utah Gas & Coke Co. (V. 94, p. 922), Salt Lake City;
Boise (Ida.) Gas Light & Coke Co. (V. 93, p. 1536); Winona (Minn.) Gas
Light & Coke Co. (V. 87, p. 875); Minnesota-Wisconsin Power Corpora¬
tion, which includes the Red Wing Gas Light & Power Co. and electric light
company of Lake City and Wabasha, Minn.; La Crosse (Wis.) Gas & Elec¬
tric Co. (V. 97. p.. 890); Albion (Mich.) Gas Light Co. (V. 86, p. 170);
Holland (Mich.y City Gas Co. (V. 95, p. 1405), and the Jackson (Miss.)
Light & Traction Co. (V. 94, p. 1566).
See V. 97, p. 523, 446.
The Merchants' Heat &
with
of
location,
which recently
ary
amount
subsidiaries,
company's
The company was incorporated in Delaware
in June 1912 and now
$6,000,000 of the 1st M. 5s in lieu of scrip.
in the merger from
the
to
as
growth, &c.
Traction, Light & Power Co., Ltd.—Status.
—The London Stock Exchange on or about Sept. 20 listed
Alabama
large
1117
CHRONICLE
THE
1913.]
1118
THE
American
world.
Industry typifies
The
American
genius -which has
a
Woolen
Co.
has
CHRONICLE
equal throughout the
no
contributed
in
small
no
way
toward
elevating the standard of American manufacture.
Woolens and
worsteds have come from their mills wear after year, always the standard
in quality, and at prices which have pltt their cloths within the reach of all.
The reputation of our great company for quality—the confidence which the
trade and general public have come to place in us—shall be maintained.
To excel in manufacture is a birthright handed down to every American
by his forefathers, and to-day, with conditions changed, with temporary
annoyances balking our endeavors, we mean to claim our birthright, and
with the help of the trade in distribution and the
encouragement of the pub¬
lic in patronage, our mills shall produce their usual high grade of goods;
American worsteds and woolens shall still be supreme—the best to be had
in the world.—V. 96, p. 1703.
Ann Arbor
(Mich.) Water Co .—Purch. by City Auth.—
See Ami Arbor in "State and
City'' department.—V. 97, p. 804, 367.
Brooklyn Borough Gas Co.—Increase of Stock,&c..—
The stockholders will vote on Oct. 21 on increasing the authorized stock
from $500,000 to $1,000,000.
The "Gas Age" of Oct, 15 contains at great length the opinion of Com¬
missioner Maltbie on which the decision of the P. S. Commission was based
reducing the price of
V. 97, p. 446.
Butler
gas
from $1 to 95 cts. per 1,000
cu.
ft.
Compare
Brothers, Chicago.-—■New Stock—Dividends.—
be
paid for at par out of surplus to be carried to permanent capital and issued
stock dividend of 10% to stockholders of record Feb. 10 1914; $2,000,000 shall be sold at par for cash and first offered to the stockholders of rec¬
ord Feb. 2 1914, and shall be paid for and issuable on Feb. 10 1914; the
as a
remaining $2,006,000 shall be issued on such terms and at such time or
as the directors may
determine, and to be first offered to the stock¬
times
holders pro rata.
That our stockholders may not be confused as to our rate of dividend,
we desire to state that for the
past 15 years our regular dividend has been
10%.
All payments in excess of this rate have been extra dividends.
The directors believe that the company will be able to
pay the regular 10%
upon
the capital when increased
proposed,—V. 97,
as
p.
1026.
California—Idaho Co., Pittsb.—Protective Committee.—
;
A committee has been formed consisting of Alvin W.
Paul Staes of Liege, W. K. Whigham of
Krech, Chairman,
London, W. O. Audenried Jr. of
Philadelphia and H. L. Burrage of Bcston (with power to add to their
number) to protect the interests of holders of the company's 5% gold bonds,
guaranteed by the S. Pierce Water Works & Equitable Trust L. C. Krautoff and Winslow American
counsel and Guarantee Co.
Co. of N. Y.
are
is
depositary for the committee.
The committee is now occupied with
preliminary investigation*.
See V. 92, p. 528; V. 93, p. 530; V\ 95, p.
1544; V. 96, p. 490, 1775; T. 97, p. 952.
Canada Iron
The holders
both
Corporation.—$250,000 Prior Lien.—
of
1st
and
2d
authorizing the Montreal Trust Co.,
M.
as
bonds
were
to
vote yesterday on
trustee, and any liquidator, receiver
or manager to borrow not over
$250,000, as may be needed to carry on
the business, re-pay moneys already borrowed since date of
liquidation, &c.,
and to secure such moneys by mortgages or
the said
charges ranking in priority to
1st and 2d M. bonds.
The Western Canada Trust
Co., urging above authorization, say; The
Montreal Trust Co. finds (a) the corporation is insolvent
through losses
incurred in working the mines and blast furnaces, and through the
heavy
capital charges incurred on account of these branches of the business, which
far have
so
on
a
brought no return; (b) The foundries have made large
profits
steadily increasing scale, but that these earnings have been swallowed
up by expenses and losses elsewhere and overhead expenses.
and blast furnaces should, in the liquidator's
The mines
opinion/be shut down until
they can be disposed of or worked under more favorable Conditions, and a
further sum is required immediately to keep the
foundry business going.
Authorizing the liquidator to borrow on a prior charge ud to $250,000 will
give it time to negotiate with regard to the mines and furnaces and to
pre¬
pare statements which will b« submitted as
soon
possible.—V. 97,
as
p.
889, 730.
7s "
Central Petroleum Co.—Prairie Oil & Gas Co.—
See that company below.:—V. 97, p. 524.
; Consolidated Water Co. of Utica,.—Earnings.—Red¬
mond & Co., who recently offered 2d M. 5s of
Jan.
1
1930
1906, due
(auth. $1,500,000; out $1,210,000), report:
Earnings for t
Months ending June 30
Gross.
1913
1912
Net.
$183,071
176,460
1913 and 1912.
Int. 1st 5s. Int. 2d 5s. Bent. Ac. Dal.,Sur.
$127,939
123,619
$62,500
$25,907
$4,270 '
$35,262
62,500
23,428
5,074
32,617
"Net" income above is shown after deducting taxes.
See also Y.96 ,p.363.
-----
Crucible Steel Co.
Aug. 31
;
Year—
1
1912-13
1911-12
—V. 96, p.
,,
Gross
Earnings.
$6,958,131
6,113,958
421.
Cuban
Ports
of America .—Earnings.—
Charges &
Appropr'ns.
$2,052,245
1,688,962
,
Net
Earnings.
$4,905,886
3,424,996
Pref. Div.
(7%)..
$1,750,000
1,750,000
Balance,
Surplus.
$3,155,886
1,674,996.
Co .—Attempt
to Annul Concession,
&c.—
President Menocal of Cuba on Aug. 4 issued a long decree
declaring the
30-year concession granted to the company in 1911, during the Adminis¬
tration of former Pres. Gomez, for the dredging and
improvement of the
harbor of Havana and other harbors
that the company was not
on
the island of Cuba, on the
ground
properly organized, &c., although
prominent
Cuban attorneys approved the legality of the steps taken.
The company
a period of 2 years successfully defended 9 suits brought
against it
in the Cuban Courts, including the Supreme Court of Cuba.
The
during
submitted to
former Pres.
an
amendment of the concession,
Gomez
company
which
was
proclaimed by
May 12 1913, providing that in the event of the
Government taking over the concession, it might do so
by purchasing the
outstanding stock at a valuation to be made by 3 appraisers, one to be
nominated by the Cuban Government, one by the U. S.
Government and
one by the company, the Government in such case to
respect the rights of
the bondholders and other obligations of the company.
The basis of the
decree of Pres. Menocal was, it is reported, that the contract
conferred such
extraordinary privileges as to amount to a forfeiture of public interests and
could .therefore under an old Spanish law be canceled.
The "Ldndon
Statist" of Sept. 6 published the recent decree in full.
on
The
Supreme Court of Cuba on Oct. 4' dismissed the appeal from the
mostly ori technical grounds and the company has
given notice that it will further contest the constitutionality of the
decree.
The Cuban Government on Sept. 23 also filed in the Court of First
Instance
a suit asking for the annulment of the charter, and in the
meantime all work
has been stopped and no money is being paid over to the
company.
Bond¬
holders on Sept. 27 filed in the same Court a suit
requesting that a lien be
declared in their favor for $7,000,000 on the company's
property.
The
sub-contractors (all American firms), who have no contractual
relations
with the Cuban Govt., but who are threatened with
loss, have enlised the
aid of Secretary Bryan of the State Department to persuade the
Cuban Govt
recent decree, it seems,
to enter into a .contract with them to continue the work.
holders have appointed a protective committee (address
The London
shared
Philipotts & Co )
are $7,000,000 bonds outstanding.
Sperling & Co., London who
in May 1911 issued the bonds through Kleinwort, Sons &
Co., in a letter
in the "London Statist" of Sept. 20 explain their connection with
There
and developments since the company's organization.
Distillers'
New
the matter
See V. 93, p. 798.
Securities Corporation.—See
"Reports."
Officers, cfee.—The following changes
Julius Kessler has been elected
a
are
director to succeed L. L.
also President in
may be exchanged for its equivalent at $14 per share in either
$100 or $1,000 American Gas & Electric Co.
bonds, fractional amounts
being made up in negotiable scrip.
In case $1,000 bonds are required*
£
ke made on stock so deposited on or before Dec. 1. Holders
of $100 bonds of the Am. Gas &
Elec. Co. who wish to exchange for theequivalent in $1,000 bonds may do so at their own
expense and risk by
depositing their $100 bonds in multiples of ten with Cassatt & Co.
between the dates above given.
A distribution of 35 cents
per share is payable on the stock on Nov. 1
to holders of record Oct. 24.
Similar payments of 30 cents each were made
on Aug. 1 1913 and
1913.—V. 97, p. 668.'
™
19-2
Express Rates.—Extension Granted.—The Inter-State Com¬
Commission
merce
the Order made
Oct.
on
15 extended the date
announced:
Gillespie
and
a
East Ohio Gas Co.—Bonds Reduced.—
The trustee has purchased at par and interest for the
•
1
sinking fund
a
which
on
by it in August last (V. 97,
p. 368)
rates shall become effective from Oct.
15 to Dec. 1.
reducing
Should the express companies show that
further time for preparation of
tariffs is necessary and that work is
being prosecuted with diligence, applica¬
for furthe
Commission
—V.
97,
^extension will be considered
declines
to
make
by the Commission.
revisions
any
of
the
new
scale
of
The
rates.
368.
p.
General
Chemical
Co.—Earnings.—For the 9 months
ending Sept. 30 1913:
Current profits, January to
September 1013
Less reserved for
insurance, $45,000---Pref. dividends (43^ %),
$618,750; com. divs.
Deprec
--$2,100,922
(4K%), $452,541-
of plants, profit sharers' acct., Federal
taxes, &c. (est.)
n
$2,055,922
1,071,291
400,000
Estimated increase of surplus
—V.
97,
p.
$584,631
#
301.
■
9
Hocking Coal Co.—Bonds Called.—
Ten 1st M. 6% 20-year sinking fund
gold bonds issued usder Indenture
offJuly 1 1912, for payment at 105 and int. on Jaa. 1
1914. at Equitably;
Trust Co.—V. 96, p. 365.
Hydraulic Power Co., Niagara Falls, N.
Y.^-Earnings.
Gross
June 30
Earnings.
Oper.Exp.
and Taxes.
$1,030,315
928,955
$214,876
195,415
Year—
1912-13
Net
Other
Earnings.
$815,43t
733,54$
Present annual interest charges, $318,500.—V.
ft,
Bal.for
Income.
Interest.
$79,423
$9,323
p. 1839.
$894,862
802,863
Idaho-Oregon Light & Power Co.-rOpposilitn.—
A committee, with office at
123 W. Madiss* ft.. Ohicags, in cir¬
cular of Oct. 8, says in part:
The Federal Court at Boise, Idaho, has granted ua the
right to intervene
in the foreclosure suit brought by the N. Y.
committee, has forbidden the
immediate sale (recently advertised for Dec. 1, subjsct te
192-3
$841,000 divisional
mortgages], and will protect our rights if we assert them.
Of the 1st &Ref.
M. bonds, $718,000 claimed to be owned
by the railway company, were
obtained
without consideration, and another $107,©06 are not outstand¬
ing, as alleged.
We expect to defeat the railway and reduce the alleged
debt by this $825,000.
The power company has a rood property, with
earnings ample to pay the interest on the 1st Ref. <fc M. bonds, and a de¬
mand for electricity
in excess of present capacity.
This committee i*
composed entirely of independent bondholders, aad it *ow holds $500,000
of bonds and of certificates representing bonds
deposited with the N. Y.
committee, [exchangeable under the modified plan of that committee for
2d M. bonds with interest beginning at 2%
v. 9$, p. 1632, 1091].
Our
depositaries are Cont. & Comm. Trust & Sarlags Bask, Chicago, and
Broadway Trust Co., N. Y. City.
.
Earnings: 1908.
1909.
ltlf.
1111.
1912.
Operating income
--$196,416 $215,579 $297,§41 $161,297 $402,04*
Oper. exp. and com'l and
'
general expenses.
$83,439
$73,531
$82,828 $128,400 $189,31$,
Surplus after interest-^— $49,640
$74,548 $139,848 $146,532df$59,654
The interest on the underlying bonds and your $2,500,000 of 1st & Ref.
M. 5s is only about $180,000 a year.
The net ia 1912, even after deduct¬
ing over $101,000 of "commercial and general ex peases," a large part
of which
can be eliminated, was more than $212,000.
The loss in gross
for the first eight months of 1913 is only $23,000. - When the Boise
Valley
Ry. and Boise City Ry. were acquired by the railway, the contracts of the*
these important consumers were canceled.
Our plan,
buy the property so as to pay us back our money, or,
if not, take the property ourselves for our debt.
Committee:
A.
W.
Priest,
Appleton,
Wis.,
paper
manufacturer;
power company with
is to find some one to
W. D. Wiilard,
Mankato,
Minn.,
Cashier First Nat. Bank; William H.
Forster, Erie, Pa., Pres. Hays Mfg. Co.; H. D. Miles, Buffalo, Pres. Buf¬
falo Foundry & Machine Co.; Edward J. Muller, 29 Warren St., N. Y. C.,
Treas. Fuchs & Lang Mfg. Co.; George E. Fisher, Brockton, Mass., Insur¬
ance; D. M. Lord, Chicago, capitalist, formerly Lord A; Thomas, adver¬
tising.—V. 96, p. 1632.
*
New York.—Proposed Pledge.
An adjourned meeting of shareholders will be held
Oct_. 21 to vote on
approving the
assets as
securi
of raising
J
L
company's need for more cash is due to the fact that of the $1,500,000
borrowed last December, only about $450,000 was available for working
capital/the balance being used to settle outstanding obligations, and alsobecause the International's business has not been as satisfactory as expected.
manner
—
Fixed charges were based upon regular increased in production each year,
this season it has been found necessary to curtail output somewhat
and
with
a
resultant heavy advance in
cojsts."
A Scranton attorney., by adv.,
has asked the co-operation of shareholders with a view to securing an audit
and
appraisal of assets.—V. 97, p. 45, 120, 179.
Keystone Telephone
Co., Philadelphia.—Initial Div.
Oct. 15 declared out of the earnings of the preceding
initial dividend of 3% on the $1,953,350 pref. stock, payable
stock Of record Oct. 24:
The stock is 6% cumulative and there
The directors on
six months
Nov. 5
is 63%
on
an
—-Calendar
-
President Folwell reports;
in accumulated dividends.
Years——-
-Sept. 30 Quarter1908.
1910..
1912.
1911.
1912.
$1,054,941 $1,147,456 $1,217,428. $304,627 $328.295530,123
578,380
608,360
149,053
155,639r
Bal.,sur— 168,352 '
214,850
279,697
305,745
72,997
78,169*
No. of telephones Sept. 30—1905, 17,928; 1912, 34,556; 1913, 36,507.—V. 96, p. 1776.
Earnings.
1906.
Gross --$901,235
Net
..
398,751
'
^
Lake Superior Corporation.—Sub. Co. Earnings.—
Algoma Steel Corporation above and compare V. 97, p. 801, 953.
See
Lake
Superior Iron & Chemical Co.—Plan Operative.—
M. 6s, due July 1 1935, and of the 6%
5-year gold notes, due Oct. 1 1916, has assented to plan of reorganization
dated June 14, and the committee has accordingly declaredJthe plan op¬
erative, and offers to advance to depositing bondholders the amount of the
coupon due July 1 1913.
Further deposits of bonds and 5-year notes will :
be received on or before Nov. 15.—See V. 97, p. 301, 120.
A large majority both of the 1st
Massachusetts Gas Companies.—Annual Earnings.— ?
Total
ExInterPreferred
Common
Bal.,
Year—
director of the DistiUing Co. of
America
in place of H. J. M. Cardeza, whose term expired, and of the
Kentucky
Distilleries & Warehouse Co. and American Spirits Mfg.
Co., and is ex¬
pected to be elected President of the first-named company.—V.
97, p. 1026;
America.—Offer of Exchange—Distribut'n.
June 30
place of E„ J. Curley, who retires on account of
ill-health
but remains a director.
A. G. Hodges, a director, becomes
Vice-President
to succeed W. P. Ward, who continues as a director.
Mr. Kessler has also been made
Electric Co. of
Notice is given that
arrangements have been made whereby stock de¬
posited between Oct. 24 and Nov. 1 with Cassatt &
Co., Arcade Bldg.,
International Motor Co.,
-
-
xcvii.
ther $500,000 of the 1st M.
bonds, making $1,500,000 retired to date and
leaving $18,500,000 outstanding.
See V. 96, p. 421, 364.
tion
Touching the plan on Jan. 21 1914 to increase the auth. capital stock
from $10,000,000 to $15,000,000, Pres. Edward B. Butler, in circular of
Oct. 4, gives the following particulars as to the new stock: $1,000,000 shall
[Vol.
fur¬
Earns.
est.
Divs.
penses.
Divs.
Surp.
$2,807,976 $66,389 $440,018 $1,000,000 $1,250,000 $51,569*
66,198
370,568
1,000,000
1,000,000
86,164
1911-12—— 2,522.930
—V. 97, p. 241.
;
"
Mergenthaler Linotype Co.—Earnings.—Sept. 30
1912-13.
Total net
Dividend rate
Balance, surplus-—v. 97, p. 668.
,
1911-12.
1910-11.
year.
1909-10.
$2,767,936 $2,738,522 $2,733,270 $2,763,869
1,919,760
1,919,760
2,111,109
1,917.630
(15%)
(15%)
(16H%)
• (15%)
profits
Dividends (about)
.
—
$848,170
$818,762
■
"
$622,161
$846,239*
T:
•
-;
'
oct. 18
Millersville Water Co., Lancaster Co., Pa»—Charter.—
B. Lansinger & Cot of Philadelphia have recently secured a charter
The population to be served is reported as about 1,700,
Millersville containing the largest State normal school in Pennsylvania.
O.
for this company.
Mines Co. of America.—Earns,
$1,167,650
380,978
Total receipts
Operating profit
for 6 Mos. end. June 30.
Deduct—Gen. exp. & taxes.
$23,689
149,719
2,684 Balance, surplus
383,662
Interest received
Total net income
_
210,254
Di vidends
Total surplus and reserve June 30 1912, after deducting
tion expense, was $2,579,107.—V.>97, p. 890.
Pittsburgh Coal & Iron Co.—Bds. Called.
payment on Nov. 1 at 110
Co., N. Y.—V. 95, p. 622
Sacramento Valley Irrigation Co.—Committee.—
Rochester &
Eighteen purchase money mortgage bonds for
$1,125 per bond) at Central Trust
and int. (say
$58,434, explora¬
grant
Light & Power Co., Hillsboro, 111.—
Rollins & Sons offered in May 1913 at
par and int. $500,000 1st M. 6% gold bonds dated April 1
1913, due Jan. 1 1931, but red., all or any part, at 105 and
int.
Par $1,000, $500 and $100 (c*).
Int. J. & J. at
Continental & Commercial Trust & Savings Bank, Chi¬
cago, trustee, or collectible at N. Y. office of E. H. Rollins
& Sons.
Their circular showed:
Southern Illinois
Bonds, &c.—E. H.
Montreal Water & Power Co.—Stock, &c.—
its intention to apply to the Legislature of the
or Quebec for an Act (a) to ratify and confirm various deeds
entered into and also certain agreements in connection with the extension
and operation of the co.'s water-works system, especially with city of
Westmount and towns of Outremont and Maissonneuve.
(b) To ratify
the reduction in the par value of the capital stock,
(c) To increase the
to
Compare V.
additional Jborrowing powers.
•-^XY.
Typewriter
Noiseless
Middletown,
Co.,
Conn.—
Hartford, Conn., on Oct. 10,
on application of John M. Forbes of New York and other creditors, ap¬
pointed Earle M. Russell of Middletown, Conn., as receiver.
The company
consented to the appoointment.
There are outstanding $200,000 1st M
6% bonds due April 1 1915, on which the interest was defaulted on April 1
last, and about $65,000 is said to be due for material and labor.
Stock
outstanding, $1,498,400 pref. and $4,002,500 com.
The plant has not been
in operation for some time and the step is said to be preparatory to reorgani¬
zation by a committee of bondholders.—V. 91, p. 1776, 521.
Judge Martin in the U. S. District Court at
Owns and
part of the merger
Ogilvie Flour Mills Co.- Earnings for Fiscal Year.—
Pref. Divs.
Com. Divs.
Balance,
Trading
Bond
(7%).
(8%).
Surplus.
Profits.
Interest.
$140,000
$200,000
$131,735
$576,735
$105,000
140,000
200,000
76,431
1911-12
521,431
105,000
31 1913, after writing off good-will,
The profit and loss surplus Aug
$169,695, was $472,523.
The valuation of good-will, trade-marks, &c.,
which last year appeared at $1,000,000 among assets in the balance sheet,
has been marked down to the nominal amount of $1.—V. 97, p. 732.
Year—
1912-13
„
Detroit.—Increase of Stock.—
16 on increasing the capital stock
$5,000,000 each of common and 7 % cumulative pref. stock to $8,000,000 of each class.
It was proposed to distribute $2,000,000 of the new
common stock as a stock dividend among present owners of the common
stock and to have the holders of common stock waive their right of subscrip¬
tion to the remaining $1,000,000 new common stock and the $3,000,000 new
The stockholders were to vote on Oct.
from
pref. stock, these to be retained for the present as treasury stock to be placed
with selected purchasers not now identified with the company.—V.97,p.448.
People's Gas Light & Coke Co.,
Increased .—In accordance with the
quarterly dividend
a
Chicago.—Dividend,
policy recently announced,
2% has been declared on the
of
$35,000,000 stock, payable Nov. 25 to
Oct. 25.
Compare V. 97, p. 954, 890.
Previous Dividend Record
1895
1896
1897 to Nor. 1905
2H
1)4
Increase
vote
on
6
6
of Stock—New
Nov. 14
holders Of record
(Per Cent).
1906 1907 1908 1909 to 1912
6 yearly
on—
6M
7 yearly
1913
1^,1^,1^,2
Mortgage.—The stockholders will
.■<
Increasing the capital stock from
,
$35,000,000 to $50,000,000, the new
board of directors see fit.
Authorizing a general and refunding mtge. to secure an issue of 50-year
5% gold bonds, the proceeds of which are to retire the outstanding bonds
stock to be issued at such times as the
and
obligations of the company or
companies merged into the People's
Gas Light & Coke Co.
Chairman Insull is quoted:
"The question as to the amount of new bonds
to be sold is not definitely settled, but it will not be large.
To arrange the
deal in reference to Ogden Gas Co., about which there has been some dis¬
cussion, no bonds -will be issued.
Funds for this purpose will be supplied
out of the company's current rasources."
subscription at par ($3,500,000) is, it is stated, to be paid for at par in 4 installments
of 25% each, on Dec. 15, Feb. 25, May 25 and Aug. 25.
Compare V. 97, p. 954, 890.
The
stock to be offered for
new
Prairie Oil & Gas Co.—Central Petroleum Co.—
A field correspondent of "Oil, Paint & Drug Reporter" in issue of Sept. 29
•aid: "The Prairie Oil & Gas Co. is again putting oil into storage, having so
far this month put into tank 18,574.86 barrels, a daily average of 1,326.27
barrels." 'The runs averaged 103,678 barrels a day for the first half of the
month and the deliveries were 102,351-23 barrels a day.
This sudden in¬
crease in the runs is traceable directly to the action of the Texas Company.
It will be recalled that two weeks ago the statement was made in this cor¬
Y
respondence that the Texas Company," having more oil in Louisiana and
Texas than it could take care of and at the same time handle its runs in this
field, had turned over the production of the Central Petroleum Co. (V. 97,
p. 524: V. 96, p. 1845) to the Prairie Co.
Then it turned over also the out¬
put of its own Producers' Oil Co., its producing branch.
The Texas Com¬
pany
evidently considered it better to turn over its own production to the
production of some of its patrons, which it
Prairie than to turn over the
might not be able to call back so easily as it may recall its own production.
Your correspondent has asked a number of producers if they believed that
this action on the part of the Texas Company,(V. 97, p. 440, 527, 732) in¬
dicated ownership on the part of the Standard Oil Co., and each said he did
not believe it.
There has been a rumor that the Standard has purchased
the control of the Gulf Pipe Line Co., but this is not believed either,
These
three companies control the pipe line business in this field and they seem
to work very harmoniously together.—V. 96, p. 1560."
Pressed Metal Radiator Co.,
Pittsburgh.—Bonds.— '
on Aug. 18 1913 filed notice of the authorization of a
debt of $150.000,-issued for cash.
organized at Pittsburgh Ncv. 18 1912 with $1,250,0 0 stock ($10
shares), of which $500,000 is outstanding (issued to old bondholders),
as successor of the Pressed Radiator Co. or America.
The latter's plant
and other assets at West Pittsburgh, Pa., were sold Sept.6 1912 under fore¬
closure of a $500,000 mortgage and was bid in for $200,000 by F. C. Per¬
kins of Pittsburgh, representing the bondholders.
The plant is being fully
operated; annual capacity of 5,000,000 ft.
Product, Kinnear pressed
The company
funded
Presto boilers.
Mellon, F. O. Perkins, H. A. Phillips,
Jno. W. Garland, H* C. Shaw and John K. Frye (Prest.).
The Sec. and
Asst. Treas. is James M. Lambing; Treas., H. C. Shaw.
General offices.
Bailey Farrell Bldg., Pittsburgh, Pa.
Directors:
Service
Investment
plan.]
May 1913.—Ed.]— Authorized. Issued.
-r-~ $300,000
$200,000
—
700,000
430,000
—.—-.5,000,000
500,000
These $500,000 bonds are issued to retire outstanding indebtednes
incurrred for construction, and also provide $118,300 cash for new gas plant
new high-tension transmission lines and additional equipment.
From the
$4,500,000 authorized escrow bonds, $50,000 may be issued upon the ac¬
quisition of the Sangamon Valley Ry. Co. free of other liens and the re¬
mainder only for 80% of cash cost of permanent extensions and additions
to be approved by us, when net earnings are twice the annual interest on
all bonds outstanding, including those applied for.
The first $1,000,000
bonds are issued to bear 6 % interest and the remainder at a rate not exceeding
6%.
Annual sinking fund to retire bonds, by purchase or call, 1 % of out¬
standing bonds in 1914 and 1915 and 2% annually thereafter.
Not less
than 8% of gross receipts is to be expended annually in maintenance.
Utilities Owned and Operated, with Population of Localities Served.
[No further acquisitions since May 1913.]
(1) Electric light and power:
Hillsboro (6,000), Greenville (3,156).
Oollinsville (8,178), Gillespie (2,340), Witt (2,200), Coffeen (980), Ray¬
mond (881). Morrisonville (1,126), Irving (978), Harvel (400), Butler (233), .
Schram City (1,000). Taylor Springs (1,500), Benld (2,012,) Caseyville
(613) and Maryville (729),
Also supplies power to the lighting company
at Nokomis (1,900) and municipal light plant at Sawyerville (445).
Total
population, estimated, 35,000, which >vill be increased to 75,000 on com¬
pletion of line extensions now being made.
(2) Gas: Greenville and new
plant to be constructed serving Hillsboro.
(3) Steam heat: Hillsboro and
Morrisonville.
(4) Street railway:
Hillsboro and Taylor Springs.
In
addition, electric power is sold to the Illinois Traction Co. for operating
its interurban lines in the Hillsboro district.
An additional power customer
is Sangamon Valley Ry., operating between Hillsboro and Schram City.
(5) Municipal pumping: Hillsboro, Greenville, Collinsville, Morrisonville.
The principal
generating stations are located at Hillsboro and
Collinsville, each fully equipped with modern steam-turbine generating
units, total capacity of 2,750 k.w.
Three small generating plants now
owned will be closed down as soon as the necessary transmission lines are
completed from Hillsboro and Collinsville.
Now operates 65 miles of trans¬
mission lines and 40 miles additional estimated to cost $78,300 and gas
plant at estimated cost of $60,000 are to be completed from the proceeds of
stock
*
Common stock
First mortgage bonds
the present issue of bonds and net earnings.
Our engineers appraise the physical property,
Ill,'
limit; the powers
Co. of Northern Illinois.—Dividend.—
quarterly dividend of 1 % % has been declared on the $9,062,000 com¬
mon stock, comparing with 1% quarterly from Feb.
1912 to Aug. 1913,
inclusive.
This increases the rate from 4% to 5% p. a.—V. 97, p. J80.
Public"Service
Pueblo (Col). Gas & Fuel
Gross earnings
Net. after taxes.
1902 at 89 and int.
,,
Actually Owned.
6s—$30,000
$22,328
$18#,396; net, $60,589; interest,
Yr. 1912, Based on Receipts for Periods
$170,4801 Interest on $500,000
:
$52,3281 Surplus
-
[For year ending May 30 1913, gross,
$30,000; balance, surplus, $30,589.]
,
Directors.—Owned and managed by the following directors:
President; W. A. White, V.-Pres.; C. A. Ramsey, Treas.; B.
Sec,, and Guy C. Lane, all of Hillsboro; and J. E. Hitt and
mond, both of Chicago.
J. J. Frey,
H. Walcher,
R. R. Ham¬
Co., N. Y.—Ncut Plan Issued.—
below has filed with the Bankers
Trust Co. of N. Y., as depositary, a new plan of reorganiza¬
tion, and also a syndicate agreement dated Oct. 15 1913,
which, for the purpose of raising $1,981,887 new money,
calls for the transfer of all the. properties formerly owned by
Southern Iron & Steel
committee named
The
this company (but
temporarily vested in Standard
Steel Co.
March, following sale in bankruptcy—V. 96, p. 1026)
new corporation to be known as the "Gulf States Steel
Co., or other appropriate name, capitalization as. follows: '
Proposed New Capitalization (in $100 Shares)—-Voting Trust for 5 Yrs. or Less.
First pref. (p. & d.) stock, 7% cum., red. a* 110 and divs.
Total...
last
to
a
authorized ($500,000 to
$3,000,000
remain in treasury)—;!
5,000,000
pref. (p.,& d.) stock, 6% non-cum.
Total authorized—
Total auth. (incl. $450,000 issuable on account
f
of recent purchase of ore properties) _ _
7,500,000
Voting trustees, Alexander J. Hemphill, Alfred A. Cook and Francis
D;Pollak.
•••
~';a
Second
Common stock.
t
.
SecuritiesAc.
(1) Syndicate Offer to Holders of Southern Iron & Steel Co.
[Certificates of deposit, and old stock' whetner or not so represented.]
Holders of
If
-Will Receive New Stock (Vol. tr. ctfs.)
Old Securities—
Paying.
First Pref. Second Pref.
Common.
...
100%
x32)4%
notes.\
32)4%'
32H%
I
$195,000
$195,00$
$600,000
$195,000
$6,827,000 1st M. bonds!
16M%
1.109,387
16X%
1,109,387
6)4%
78.00#
50%
8,413,500
20%:
• 240,000
20%,
60,000
xl6H%
1,109,387
x6)4%
78,000
*6H%
19,500
45%
2,655.000
20%
1,900,000
$600,000 secured
I
$1,200,000 debentures,_1
6)4%
J
78,000
1
6K%
19,500
$300,000
claims
[
$5,900,000 pref. stock.5%
f
295,000
3%
$9,500,000 com. stock-_1
285,000
(2) Other Items.—
Syndicate commission
See below.
do
compensation
do.
Ore property purchase
To be distributed under
«H%'i
19,509
5%
205,000
3%.,
285,009
.
"modified
p.
V
343,000
238,113
500,000
343,500
115)
450,000
.-r-—
To Standard Steel Co_
Total
x
260,000
20,00#
plan" (V. 95.
To remain in treasury
common
stock
-
—
1,078;,375
14,738
$1,981,887
$3,000,000
$5,000,000 $7,500,000
with "modified plan" (in V. 95, p. 115), $1,078,375
will bo distributed among holders of certificates of
Also in compliance
new
—
>•
....
Co.—Sinking Fund Purchase.—
for the sinking fund $12,000 of the 1st M.
There are outstanding $562,000 of these
1st M. bonds; also $100,000 of an auth. $1,500,000 of sinking fund 5s of
1908, due Sept. 1 1928.
Bankers Trust Co., trustee.
Incorp. in Colorado
July 31 1902 as successor of Pueblo Gas Lt. Co., and on May 31 1906 was
acquired by H. L. Doherty & Co. of N. Y.
Operated independently.
Capital stock, all out, $300,000; par^ $100.
Bee V. 83, p. 972.
The trustee has purchased
bonds of
,
granted are liberal.
Accountants' Report for
j
A
,
including extensions to be
proceeds of the present issue of bonds, at upwards of $800,000.
without allowance for franchise or going-concern values.
The system is
located in the widely-known Illinois corn and coal belts (coal costing the
company only 75 cts. per ton . while Collinsville, Caseyville and Maryville
are developing into industrial centres, being but 11 miles from East St.
Louis and having rapid communication with St. Louis by interurban lines.
The business field is enjoying rapid development and, with good service
rendered by modern central stations, we estimate that the company's net
earnings will double within two years.
With but minor exceptions all the
franchises extend far beyond 1931, that in Hillsboro being without time
made with the
.
—V. 95, p.
Southern Illinois, and fur¬
[On April 1 1913 the Hills¬
Springfield, III., changing
$500,000 to $1,000,000 as
Capitalization [no change since
A. W. Mellon, R. B.
Co.—Increase of Stock.—
The stockholders will vote on Oct. 30 on increasing the capital stock from
$2,000,000 each of preferred and common to $3,000,000 of each class.
Public
competition, and under long franchises, the
Preferred
Was
radiators and
operates without
public utilities of 16 thriving towns and cities in
nishes wholesale power to two additional towns.
boro El. Lt. & Power CO. filed a certificate at
its name as above and increasing its stock from
Aug. 31
Packard Motor Co.,
Works & Guar. Co. above.—V. 97, p. 600.
Shenango Furnace Co.—First Mortgage Bonds Called.—
First mortgage (Webb Mine) 5% gold bonds Nos. 376 to 500, inclusive,
for payment at par and int. on Dec. 1 at Pittsburgh Tr. Co.—V. 96, p. 207.
The company announces
and
American Water
See
Province
capital stock
97, p. 115.
1119
CHRONICLE
THE
1913.]
1120
THE
CHRONICLE
deposit as follows:
On account of secured notes (.1600,000), 25%, or
$150,000; 1st M. bonds ($6,827,000), 12H%, $853,375; debentures ($1,200,000), 5%,
$60,000; claims ($300,000), 5%, $15,000. the propor¬
tions shown being those fixed
by the modified plan.
y To be used in raising any balance of the
$1,981,887 new cash.
The aforesaid casn sums must be
paid by the holders of old stock, bonds,
&c., in four equal installments of 25% each, Nov. 15 1913, Jan. 1 1914,
March 1 1914 and May 1 1914, at the office of the
syndicate managers in
N. Y. and London, or at Parr's Bank, Ltd., Bartholomew Lane, to an
amount
equal at the
current
rate of exchange to
Earnings for the Year ending June 30—All Companies.
Net income from
operations, after allowance for deproc., &c
Interest on notes & accts.
Total net income from all
sources
Deduct—Interest
equal installments of 25%
'
:•
<
1909.
Gross
to
—Accompanying this issue
scribers
Net earnings..
shown
of
July 31
1912.
1912-13.
separately
43,463
—
loss$599,785 loss$389,453 $186,908
Interest in Lacy-Buck bonds for 6 months in
1913, at $1,500 per mo.
Pres. and Receiver James Bowron and Auditor W. H.
Moore, in furnish¬
ing the foregoing statement of earnings, call attention to various matters
which, they say, would not operate to decrease the amount of earnings as
shown.
(Compare V. 94, p. 1053; V.
96, p. 423.)
Aug. 31
Total Net
Year-
New York,
Retirement
Inc.'
Pfd.
-Earnings.—.
Common
Preferred
Dividend.'
Stk.
Bal.,
Dividend.
Sum.
$ '
(2%)91,870 335,896
(2%)91,858 246,388
$
1913
...
1912.
835.151
(5%)339",450
(1%)67,935
682,983
(5%)344,737
Ja,mes M. Fuller has been elected
V. 96, p. 1706.
a
director to succeed Edwin Gould.—
Standard Oil of California.—New
Officers.—
Secretary and Treasurer, to assume the duties formerly performed by Secre¬
tary Edwards except purchase of crude oil, the last-named
being placed
in charge of H. M. Storey,
director of pipe lines.—V. 97, P* 669, 527.
Taylor-Wharton Iron & Steel Co.—New Officers.—
A. E. Borie, formerly
V.-Pres., has been elected Chairman of the board.
L. W. Jones and W. L. Wright have been chosen
V.-Pres'ts.—V.
97, p. 732.
Texas CompanyRelations with Prairie Oil
fc Gas Co.—
97,.p. 732, 527.
•
\
Twin Falls North Side Land & Water Co .—Committee.
See
American
Water Works & .Guar.
Twin Falls
See
American
Co.
above,—V. 97,
p.
600.
Oakley Land & Water Co.—Committee
Water
Works &
Guar.
Co.
above,-—V. 97,
p.
—
954.
Twin Falls Salmon Eiv. Land & Water Co.—Committee.
See American
Water Works &
Guar.
Co. above.—V.
Vancouver Power Co.—Debenture
96, p. 1777.
Stock.—-
^See British Columbia Electric Ry. under "Railroads" above.—V.
Vulcan
96, p.
Detinning Co., N. Y.—Settlement Reached.—
A verbal arrangement has been reached
between the company's attorneys
and those of the American Can Co. for a
compromise of the infringement
suits brought by the company
against the Can Company under which the
latter will pay $617,000 to the
Detinning Co.
The payment is expected
to be made on Wednesday next.
The company
has issued a circular showing the operations of the 6 months
ending June 30 last.—V. 97, p. 303, 181.
Washington Oil Co.-—Dividend Declared.—
A
receive
a
copy
of the "Chronicle"
of
our
"Bankers'
our
sub¬
Convention
Bankers' Association held last week.
—Turner, Tucker & Co., Inc., of New York and Boston,
requirement of an investment is safety
principal.
The factors that go to make an investment safe
from 6 to
7%.
For this circular, address Benjamin Dobson,
bond department of Turner, Tucker & Co., Inc.,
Ill Broadway, this
city.
manager
—Bertron, Griscom & Co., 40 Wall St., New York, will be
pleased to furnish to investors and all others interested a
copy of the firm's "Annual Booklet", which presents a con¬
cise statement of the various
public utility companies that
Bertron, Griscom & Co. control or directly supervise.
This
"Annual Booklet" can also be obtained
by writing the
Philadelphia office in the Land Title Building and foreign
investors can apply to the firm's Paris office at 19 Boule¬
vard des Capucines.
V
■
,
F.-H. Hillman, formerly director of
producing/has been named Secre¬
tary to succeed William Edwards, who resigned; W. M. Hall, Assistant
See Prairie Oil & Gas Co. above.—V.
will
financial strength, an established
business, an able and
experienced management, the product one in demand, a
clean past history,
good future prospects and the ability to
pay substantial dividends with but a part of net
earnings."
The offerings described in the bankers' circular
will, in their
opinion, meet all these requirements and show a net return
1913.
x
Standard Milling Co.,
-—$3,070,959
-
are
1911.
$177 loss$587,663
-
-----
-
state that "the .basic
•
Not
—
Section," giving a detailed report of all the proceedings,
addresses, &c., of the Boston 1913 convention of the Ameri¬
can
.
ins. & loan int.
—
August.
The output is now reported at rate
day, which is a large increase over the output at this
(see V. 95, p. 1547).—-Y. 97, p. 303, 242.
time last year
earnings—$21,916 loss$213,289 loss$149,656 loss$135,580 $239,371
21,739
374.374
450.129
253.873
z9,000
Fixed charges—
Idle exp., taxes,
on
-
190 motor cars per
or
'
1912—12 Months ending
1910.
„
Balance, carried to profit and loss——
exceeding 6% per annum.
The Standard Steel Co. is to raise
any balance of the $1,981,887 new cash
not provided either
by the underwriting syndicate or the stockholders, &c.
The committee believes that the
expenditure of the sum named will enable
the new company under
proper management to operate
profitably.
The
offer of new stock, for
subscription, to the old Southern shareholders is
made in recognition of the fact that in the
reorganization of 1909 $2,500,000
new money was
obtained, largely for improvements, acquisitions, &c., by
sale of stock, chiefly to
European investors.
Proposed application ot new money: Principal amount of loan of Standard
Company, $415,402;payment of principal of notesgiven in connection with
purchases of Shannon-McDonough ore properties, $160,650; paymeht of
amount required for creditors' dividends of the Steel Co", and
expenses 6f
liquidation and reorganization (est.), $250,000; working capital, &c. (new
company), $173,947; balance for cost of contemplated additions, better$981,887; total, $1,981,887, incl. purchase 1,515 acres self-fluxing ore lands.
Committee: John W.
Flatten, Chairman; Alexander J. Hemphill, Edwin
G. Merrill, Benjamin Strong
Jr., Harry Bronner, Neville G. Higham, S. H.
Voorhees and Alfred A. Cook, with Arthur M.
Wickwire, Secretary, 37
Wall St.. N. Y.
pref. stock and 26 )4%
An extra dividend of
5% on the common stock, together with the third
dividend of 114%. was
paid in
managers, not
Earnings—Calendar Years 1909
-
on
—
payaolo
each,
to 7%
-
1 1913,
Feb.15 1914 and April 15 1914 (or on such
later date or dates as the
managers may fix), with interest upon the last
three installments from Nov. 5 1913 to date of
payment, if required by
syndicate
floating debt
176,830
$5,882,367
228,469
-
Transferred
payment by stockholders, depositors of bonds, etc., of old
Southern Iron & Steel Co.
Subscriptions to the syndicate are payable
at offices of syndicate
managers in N. Y. City or in London, or at Parr's
London, in four
-----
$20,000,000 common)
_$5,653,898
to assets of new
corporation, being proportion of
earnings June 30 1912 to Nov. 30 19121,686,222
Divs. paid from formation of
new corporation on Nov. 30 1912:
Three of 1 % % each on
pref. stock and two of 1 }4% on com.
stock, $862,500; on pref. stock of affiliated
cos., $34,217; total
896,717
and U. S. Mtge. &
$1,000,000 of afore¬
cash
Ltd.,
on
Bai^?c£;^surplus (eQual
syndicate, managed by Guaranty Trust Co.
Trust Co., has underwritten to the extent of the first
Bank,
$5,705,537
receiv., $151,602, and misc., $25,228-
the amount of each in¬
The
Nov. 5, 1913, Dec.
xcvii.
Willys-Overland Co.—Annual Earnings.—
stallment if paid in New York.
said
[Vol.
—The
third
Guaranty Trust Co. of New York has just issued the
edition of its handbook, "Short-Term
Securities."
This
excellent work contains in compact tabular form the
principal facts regarding the current issues of short-term notes
—Government, State, railway, public service and utility
and industrial—also a
chronological index of maturities.
We understand that copies
may be had by applying to the
company's bond department.
—Anticipating many inquiries concerning the income tax
law, Harris, Forbes & Co., Pine St., corner William, this
city, have prepared a Hand-Book on this subject.
It con¬
tains the full text of the law, an
analysis of its practical
operation and a resume of the history of- income taxation in
this country and abroad.
A free copy Of the Hand-Book
will be mailed by
arris, Forbes & Co. to all of our readers
who ask for "No. 53."
—F. Faithfull Begg, senior member of the firm of
Begg,
Johnston & Co., London, retired from the firm on
Sept. 20.
The business will be continued under the same name
other
partners,
H.
by the
Harry Sutcliffe, J. Mc-
A. Johnston,
Geoch McNaught and F. W. Scott.- While
ceasing to act
as a stock and share
broker, Mr. Begg announces that he
continuing to interest himself in general finance.
purposes
dividend
of $4 per share (40%) has been delcared
on the
$100,000
(par $10), payable Dec. 1 to holders of record Oct. 31.
This is the
third payment since the
disintegration of the Standard Oil Co. of New Jer¬
sey, a dividend of the same amount having been disbursed on
Feb. 20 last
and 29% having been
paid in 1911 from accumulated surplus.—V. 96, p.
1027.
/.........
stock
,
Western Union
For 3 months
Three
Telegraph Co.—3 Months' Earnings:—
ending Sept, 30 (partly estimated in 1913):
Gross
Income.
Months:
1912_.,-
11,698,762
8 Mos.' Actual
Eight;
Gross
Months:
Income
Net
•
,
1913r.._$12,085,000
..
,
Earnings.
$1,114,380
,1,114,000
334,295
Other
Earnings.
Income.
1913—,_.$29,984,739 $2,348,639 $626,261
1912A.— 28,409,831
2,393,411
731,624
—V. 97, p. 891,H023. • ii;
Wilkes-Barre
.
Interest.
$334,310
Dividends
(%'%).
' $748,070
748,020
Balance,
Surplus.
$32,000
' 31,685
Earnings.—For 8 months ending Aug. 31:
Net
.>
Bond
„
(Pa.)
or
(2%).
Sum.
"
.
....
sonal tax at
$891,486 $1,994,825 $88,589
1,024,798
1,994,667 105,570
date at 102 and int.
Coupons M. & S.
such
a
forms
of
A. B. Leach &
and for
Interest and sinking fund
payments guaranteed by Madeira, Hill & Co.
(Inc.), one of the largest independent owners of anthracite coal.
Trustee,
Girard Trust :Co., Phila.
A 1st M. on 63 acres of surface lands
with 98
acres of underlying
coal-bearing strata, located about 214 miles north of
city of Wilkes-Barre, with'plant, buildings, mining
machinery, &c., now
owned or hereafter acquired.
Property estimated to contain over 2 000 000
tons of anthracite coal (of which over
1,600,000 tons recoverable),' not in¬
cluding an underlying red ash vein that should yield 650,000 tons.
Ex¬
cellent shipping facilities.
-Sinking fund, 55c. per ton (2,240 lbs.) mined and
shipped, with yearly minimums as follows: 1914-15,
$40,000: 1916-18
$45,000; 1919.,$50,000; 1920-21. $55,000; 1922,
$60,000; i923,
total, $500,OOA ' {Incorp. in Pa. in July
1912 by Percy C. Madeira, Louise
C. Madeira and Samuel Bell Jr.]
Bonds tax exempt in Pa.
.
A. B. Leach & Co. of this city are,
number of bonds which are exempted from per¬
prices to yield the best income possible from*
Interest.
offering
Colliery Co .—Guaranteed Bonds.—
any part op any int.
at 101 and int.
.
Tax in this country.
Bal.,
Glendiinning & Co., Phila., are offering at par and int.
%) kinking f.u#d! gold bonds. Auth. and outstand¬
ing, $500,000, dated Sept. 1 1912 and due Sept. 1
1923, but
fund
■
—Bonds exempt from personal tax will
undoubtedly in¬
crease in popularity with the
operation of the Federal Income
Dividends
1st M: 6
sink,
tisement for details.
Bond
Robt.
red. all
—White, Weld & Co., 14 Wall St., New York, The Rook¬
ery, Chicago, and 111 Devonshire St., Boston, are to-day
advertising in this issue a selected list ofj high-grade railroad
and municipal bonds which they recommend for invest¬
ment, at prices yielding from 4.25 to 5%.
These bonds are
offered subject to prior sale and change in
price.
See adver¬
$65?000;
investment.
Write for
list
"E.
C.-47"
Co., 149 Broadway, New York.
to
•
—Conant, Young & Co., 95 Milk St., Boston, are offering
public service corporation bonds yielding 5^ to 6%.
These bonds are the secured obligations of established com¬
panies having large surplus earnings.
Special circulars
a
list of
sent
on
application.
Address inquiries to Augustine
Young & Co., 95 Milk St., Boston.
B.
Conant of Conant,
—Spencer Trask & Co. of this city
distributing
are
among
investors the thirteenth edition of their circular
on "Railroad
and Industrial Stocks," describing 109 different issues listed
on the New York Stock
Exchange and classified as invest¬
ment, semi-investment and
speculative.
—C. E. Dpnison & Co. of Boston and
<
:
<
V-
Cleveland are offer¬
ing to mail circular No. 400, describing 25 bojaqls which are
free from
the
new
income tax.
Oct. 18
1131
CHRONICLE
THE
1913.]
§Lepcrrts and ^Botuxncnte.
PUBLISHED
AS
AOVERriSEMENTS.
RAILWAY COMPANY
GREAT NORTHERN
TWENTY-FOURTH ANNUAL REPORT—FOR THE FISCAL YEAR ENDING JUNE 30 1913.
To the Stockholders:
concrete, and thre8 timber ore
•
^
submit the following report for the year
ended June 30 1913:
Directors
The
CAPITAL STOCK.
The last annual report
shows the authorized share capital
be $210,000,000.
This has been increased
to $231,000,000 by action of the Board, ratified by the Stock¬
holders, and there had been paid in to June 30 1913 on stock
subscriptions $12,958,546, as shown on the balance sheet,
on a following page.
Of the capital authorized, there had been
of the Company to
....$209,990,750 00
Issued to June 30 1912..
which remains the
June 30 1913 and
same on
which is represented by:
Stock certificates
.
^
$209,990,100 00
Full-paid subscription receipts to $60,000,000 issue, not
at that date surrendered for exchange into stock certifirtof pc
Scrip,
'
•
Y
full-paid....—*
Total
'
80 00
'
570 00
—— _____
..$209,990,750 00
_
——
unissued June 30
remained
1913
92
of
shares
Great Northern Stock for
aequiring«74 shares of The Saint
Minneapolis & Manitoba Railway Company still out¬
standing.
Paul
BONDED
Equipment", (see a later page), $8,818 17, and to
Road," (see a later page), $4,565,450 44, which in¬
cluded an unexpended fund of $927,623 38, against which
have been charged Additions and Betterments to that
amount (see a later page).
As part of the transaction 19,995
shares of Duluth Superior & Western Terminal Company
were surrendered
(leaving 5 shares outstanding) (see a later
page),.in exchange for $2,015,000, face value, of mortgage
notes of the
outstanding June 30 1913.
for June 30 1912 follows:
'
Increase (+)
1913.
1912.
Totals
,
Decreased—).
,
In
Ry. Co. of Manitoba
Co
Vancouver Victoria & Eastern Ry. & Nav.
New Westminster Southern
Company of Manitoba issued stock
to the amount of $4,300,000, in payment of advances for
construction
made by this Company and the Northern
Pacific Railway Company, each, receiving one-half of the
the
.;
The .Saint Paul Minneapolis & Manitoba Rail¬
way Company Dakota Extension Mortgage Bonds, matured
November 1 1910, were paid on presentation, leaving $2,000
still outstanding.
\ : '
+
Increase in amount of bonds "Held in Treasury" was due
to issuance of $11,246,000, face value, of the Company's First
and Refunding Mortgage Gold Bonds, Series "A", ,4K Per
cent, in accordance with the terms of the mortgage securing
the same.
Of these, $6,000,000 were issued against con¬
$2,000
..
struction and
acquisition of property and $5,246,000 against
acquisition of the following shares of stock:
Kootenai Valley Ry. Co
-
GENERAL.
.
Expenditures
for preliminary
•
follows
$20,400 (
204 shares)
...4,000,000 (40,000
"
)
.1,220,000 (12,200
" )
follows:
expenses
lines, and
new
were
made
as
:
Fargo to Surrey, N. D__
—
Niobe, N. D., to International Boundary—
Vaugnn to Oilman, Mont...
Mocfcasin to Lewistown, Mont.
New Rockford, N. D., to Lewistown, Mont
Plentywood to Seoboy, Mont.
,+
Wenatchee to Pateros, Wash
—
Oroville to Pateros, Wash
..."
Bluestem to Peach, Wash.
;
—
-
Miscellaneous
—————
Total
;
————
Co
..$1,903,414 97
..
..
..
-
—
-
-
$6,735 33
146 15
.——
,
—
(see
a
later page).—
$6,881 48
—
—
$250,000 was written off, to .cover depreciation of steam¬
ships of Great Northern Steamship Company and Northern
Steamship Company, same being charged to Income.
The margin of safety for payment of interest on bonds of
the Company, outstanding in the hands of the Public, is
nearly 5 .to 1.
(See Income Account on a later page.)
As shown on the balance sheet on a later page, there has
been invested in the Company's property over $76,000,000
which might have been distributed to the Stockholders, of
which the Public receives the benefit without making any
,
compensation and
no
on
which the Company, therefore, receives
return.
respectfully calls the attention of the Stock¬
the President, of the Comptroller;
sheet and statistical tables, and of
the Land Commissioner, which follow.
•
+
The Board
holders to the reports of
with customary balance
.
.
For the Board of Directors.
LOUIS W.
HILL, Chairman.
'"
.
for projected lines,
in the United States as
1
—
account of construction of
on
.
.
...$102,000 00
value, The Saint Paul Minneapolis & Manitoba Railway
Company,Consolidated Mortgage Four Per Cent Bonds,
Transfer Ry. Co
.
made for additions and betterments to the
were
Kootenai Valley Ry. Co.
par
Lake Superior Terminal &
The Allouez Bay Dock Co
Y
1
Advances
Duluth Terminal Ry.
Decrease in amount of bonds outstanding in hands of
was caused by redemption, through operapage
$968,876 25
page)
+$11,144,000
Public
later
Co
Ry. Co
The Midland Railway
Total
atlon of the Sinking Fund, as per table on
-U
Crow's Nest Southern Ry. Co...
Nelson & Ft. Sheppard Ry. Co
property of Controlled Companies
$185,830,909 09 $174,686,909 09
_
$571.089 06
18,882 96
21,898 18
4.592 53
352,092 15
——'
321 37
.
Manitoba Great Northern Ry.
—$102,000
-11,246,000
.
.
made advances to Controlled Canadian Com¬
panies, to pay for property, construction, additions and
betterments,-as follows:
total issue.
hands of
the Public
.-.$143,655,909 09 $143,757,909 09
(See detail list on later
.
page).
Held
in
the
Company's
16,823,000 00
Treasury..
28,069,000 00
14,106,000 00
Held by Mortgage Trustees
14,106,000 00
Outstanding
Dock Company.
The Company
Total (see a later
gives amounts of bonds
A comparison with the figures
capacity of
"Cost of
DEBT.
The balance sheet, on a later page,
a
"Cost of
Midland
There
docks, having
378,630 tons, .92 miles of main track, also yard tracks, and
other property, all located east of Omaha Crossing at Allouez,
Wis., and furnishes the means of handling iron ore from cars
to vessels.
YV 'Y'-Y y/',-.Y:
7y,y :
Of the cost of this property, there has been charged to
..
..
166,930
355,290
,901,628
376,984
46,477
03
85
80
81
10
1,638,769 08
519,604 17
137,540 11
3,683 42
$6,050,323 34
which has been charged to "Cost of Road."
Details of. expenditures for equipment and of $60,892 72
charged to "Cost of Elevators" appear in the President's
report and in tables oil a later page.vY
REPORT
OF
PRESIDENT.
•
Mr. Louis IF.
Hill, Chairman Board of Directors.
Y
Dear Sir:—Herewith report for fiscal year ended June 30
,
.
1913:
.
REVENUES, OPERATING EXPENSES, VOLUME OF
+
TRAFFIC, ETC.
,
;
.
,
.
Gross operating revenues for the year were $78,692,767 22,
an increase of $12,494,948 23, or 18.8752 per cent over last
year.
The Operating Income was $28,676,258 77, an in¬
crease of $3,513,366 47, or 13,9625 per cent over last year.
The various amounts making these increases and the per¬
centage of increase for each, as compared with last year,
are
as
follows:
.'
*
-Increase Over Last Year-
Revenue
Freight
from Transportation—
Y————u--
—
Y
Amount. .
Per Cent.
-—$10,548,866 63 22.0331
—
,
There
expended for Additions and Betterments the
which was charged to
of Betterments, $3,219,059 89, was paid from and debited against the "Fund
for Permanent Improvements and Betterments" and was
credited to "Cost of Additions and Improvements made to
the property of the Great Northern Railway Company and
paid for from "Fund for Permanent Improvements and
was
of $5,099,652 65 (see a later page),
"Cost of Road".
Of the total, cost
sum
Betterments."
This
Improvement Fund was
credited $4,250,000 out of the year's income, as shown on a
later page, and $14,431 41, net proceeds from sale of town
lots and lands not forming a portion of the railway property
or land grant.
Cherry Valley Traction Com¬
surrendered for deed of that Company's property,
which thereupon became part of the lines of this Company.
The transaction is shown by entries (shown on a later page)
of $1,056,600, par value of stock.
All property of The Allouez Bay Dock Company was pur¬
chased as of January 1 "1913.
It consists of one steel and
$17535,570 53
—
— ,
12,037 82
— —
$1,764,638 96
Switching, Special Service Train and Miscellaneous Transportation Revenue.
.
4.9077
10.0865
'
_
103,108 87
Total Revenue from Transportation
— --$12,416,61446;
Revenue from Operations other than Transportat'n
78,333 77,
.$12,494,948 23
Gross Operating Revenues.-
13.1305
206,276 51
r
Total Passenger Service Train Revenue
11.2720
.5227
10,745 10
—
Express..
Excess Baggage, Parlor and Chair Car and Other
Passenger Train Revenue
18.8965
18.8364
28.0052
18.8752
Permanent
The stock of the Everett &
pany was
Passenger
Mail.
Operating Expenses—
Maintenance of Way and Structures
Maintenance of Equipment
;
Traffic Expenses
Transportation Expenses
General Expenses
i
-
$3,108,365
1,509,951
152,842
3,292,801
132,746
„
01; 33.7122
46
19.2236
64
14.0260
39
18.0923
29 10.2281
Total Operating Expenses
$8.196,706 79
Net Operating Revenues.
Outside Operations
$4,298,241 44
,
i5,663 65
21.7635
15.0629
4.8884
$4,303,905 09
790,538 62
22.6630
$3,513,366 47
! 18 9625
Total Net .Revenue.
Taxes Accrued
Operating Income--
-
—
-
—
——
—
,
—
-
-.-J—-■:
-»
■
■
■
'
15.0218
»l.
1122
THE
CHRONICLE
All classes of freight traffic show ineffeases in retentie; re¬
sulting from increase in business, excepting products of Ani¬
mals, which show a decrease in revenue from cattle, due to
the breaking up of the Montana stock ranges, and from wool,
due to reduction in rates from Montana territory to Eastern
markets, effective June 12 1912.
Approximately 150,000,000 bushels of grain were marketed
at stations on the Company's lines, as compared with 112,800,000 in 1909, the largest previous crop.
;
Compared with last year, tonnage of revenue freight car¬
ried increased 6,083,466 tons, 22.0870 per cent, ton-mileage
1,406,342,222, or 22.5820 per cent, and average# distance
hauled .91 mile, or .4025 per cent.
Freight revenue increased
22.0331 per cent, with a decrease of .4553 per cent in revenue
per ton mile, which was 7.653 mills this year, and 7.688 mills
last year; per mile of road, there were increases in revenue
freight ton miles of 17.5244 per cent and in freight revenue
r
•of
16.9983 per cent.
of
passengers
,
Number
.
;tvr
carried
increased
426,709, or
mile in¬
distance
cent.
Passenger
5.2239 per cent; number of passengers carried one
creased 57,795,794, or 10.5497 per cent, and average
carried increased 3.395 miles, or 5.0620 per
revenue increased 11.2720 per cent and revenue per passenger
mile from 2.487 cents to 2.503 cents, or .6433 per cent.
Passenger miles increased 5.9884
ger service
These
train
figures
per cent and total passen¬
5.5443 per cent, per mile of road.
based on rates in effect during the year
revenue
are
and will be reduced
Cases."
•
'J
by refunds under the "Minnesota Rate
.1'"
■'
On June 9 1913 the
decided
resume
the
so-called
\ w
"Minnesota
as
Cases."
A
about November 15 1913.
Construction work by companies controlled by this Com¬
is in progress as follows:
pany
Montana Eastern
N.
on
merchandise between local
These reductions
were
made.
It fixed
a
mile between local
stations, effective May 1 1907.
This was complied with.
It
prescribed a schedule of maximum freight rates on grain,
coal, lumber, live stock and other
commodities, effective
June 1 1907.
Charging confiscation and an interference
to Lewistown, Mont., in several
Snowden to Sidney, Mont., 24 miles,
suit in the Circuit Court of the United States,
a temporary injunction against all these State-made
rates.
In April 1911 the Circuit Court, in a decision on the
merits, made this injunction permanent.
Accordingly, on
July 1 1911 the former higher rates were restored. The deci¬
sion of the Supreme 'Court, reversing the Circuit
Court,
holds that the complainants failed to
prove the State-made
rates confiscatory or a direct interference with inter-State
commerce..
Therefore, they were put into effect as of July 21
1913, and the Company must refund the difference between
amounts actually collected and amounts which would have
in
cover
cases
mentioned except commodity rates.
These never were put
into effect, and, as to them, refunds date from June 1 1907.
While the grain crop is not as large as last
year, reports
indicate that it is better than in any previous year, due to
new acreage coming under
cultivation, and the business in
the
ten-itory served by this Company should continue
prosper.
to
•
Operating Expenses increased 21.7635 per cent, over oneexpenditures for maintaining prop¬
erty.
Transportation Expenses increasedT8.0923 per cent,
half of which is found in
but
were
27.31 per cent of gross revenue
27.49 per cent for last year, and this
as
contrasted with
showing was made in
for all classes of labor,
spite of constantly increasing wages
and notwithstanding unusually severe weather last
winter
in both Rocky and Cascade mountains.
Freight train mileage increased 16.1102 per cent, freight
car mileage 19.938
per cent, total ton mileage 21.6691 per
cent, average number of cars per freight train mile 3.2896
per cent, average number of tons
of revenue freight per
freight train mile 5.5738 per cent,, average number of tons
of revenue freight per loaded car mile 4.9273
per cent.
A heavy east-bound business caused a
greater movement
of empty cars west than in any previous
year.
Taxes, are constantly and materially
increasing, this year
the increase being $790,538 62, or 22.6630
per cent.
Janu¬
ary 1.1913 the Gross Earnings tax in the State of Minnesota
•'
was
increased from 4 per cent to 5 per cent.
From
progress.
"
.
Great Falls & Teton
County Railway Company, from Power
Bynum, Mont., 45 miles; track-laying will be completed
to
about October 15 1913.
Because of the liquidation of the Kootenay Railway & Nav¬
igation Company, Limited, the Bedlington & Nelson line
between Sirdar Jet. and Kuskonook, B. C., 3.26 miles in
length, became of no use and has been removed.
\
"
•
■
v.
.M'"'
i/'
1
*
EQUIPMENT.
Of equipment contracted for during the year ended June 30
1912, there remained undelivered on that date:, 25 steam
locomotives and 2,650 freight-service cars.
This year, con¬
tracts were placed for 70 steam locomotives, 2
gas-electric
motor cars, 80 passenger train cars, 8,500
freight train cars,
and 40 steel oil-tank cars and 1 pile driver.
Of the total equipment above mentioned, the
following
had been received and taken into account June 30 1913:
95 Steam locomotives.
.
/
•
Mallet type freight locomotives, 28-in. and 42x32-in. cylinders,
•»
weighing 420,000 lbs. on drivers;
50 Mikado type freight locomotives, 2Sx32-in. cylinders, weighing
25
.
220,000 lbs. on drivers;
20 Six-wheel switching locomotives,
a
been collected under the State-made rates.
Refunds
the period from July 1 1911 to July 21 1913 in all
sections.
track-laying will be
completed about September 20 1913.
From Elbowoods,
N. D., to Fairview,
Mont., 101 miles, about 35 miles of track
will be laid this fall.
From Newlon, Mont., westerly, grad¬
ing has been completed to Fox Lake, about 23 miles.
From
Lewistown to Grass Range, Mont., 37 miles,
grading is
with inter-State commerce, certain stockholders of the Com¬
in
obtained
Railway Company, from New Roekford,
D.,
brief
The State of Minnesota
maximum passenger rate of two cents per
pany,
was
A new line is
being built from Plentywood, Mont., in a
westerly direction, 45 miles; track-laying will be finished
■
stations,
effective November 15 1906, and on various staples in car¬
loads from Eastern terminals to eleven jobbing centres, effec¬
tive June 3 1907.
to Regina, about 21 miles;
completed July 26 1913.
From Wenatchee to
Oroville, Wash., 133 miles; tracklaying probably will be completed by March 31 1914.
From Bluemstem, Wash., to
junction of Columbia and
Spokane rivers, at Klaxta, 39 miles, grading has been com¬
pleted.
.
Rate
follows:
xcra.
Grand Trunk Pacific line
track-laying
Supreme Court of the United States
of the situation is
ordered rates reduced
•
the
[Vol.
135,000 lbs.
v
on
'
19x26-ia.
cylinders,
weighing
drivers.
2 Gas-electric motor cars, 66 feet
inches long.
6,650 Freight Service Cars,
2,150 Plain box, 40 feet long, 80,000 lbs. capacity;
500 Automobile box, 40 feet long, 80,000 lbs. capacity;
750 Flat, 43 feet long, 80,000 lbs. capacity, p.;
1,400 Refrigerator, 38 feet long, 60,000 lbs. capacity;
1,250 Wooden ore, 22 feet 6 inches long, lOO.OOCHbs. capacity;
600 Hart convertible, 41 feet 6 inches long, 100,000 lbs. capacity.
,
40 Steel oil-tank cars, 36 feet 7Yi
lons
inches long, 12,000 gal¬
capacity.
There remained to be delivered
80 passenger
driver.
train
cars,
on
contracts June 30 1913
4,500 freight service
and 1 pile-
cars
"
The Company
built 2
express
refrigerator
65 eight-wheel caboose cars.
The use of oil as locomotive fuel
cars;
1 business
car,
on
the Western divisions
has been extended
by the conversion of 35 additional Iocch
motives into oil burners.
Improvements to rolling stock
have been continued, including electric head-lights, super¬
heaters, smoke-emission devices, and automatic bell-ringers,
for locomotives; remodeling postal cars, installing and im¬
proving electric lighting of passenger cars, &c.
Total amount expended for equipment received under con¬
tracts, built and under construction at Company's shops and
for improvements and betterments to equipment in service,
was $8,055,109 14, of which $8,055,352 71 is for the
Company
and $243 57 ,credit, is for the Vancouver Victoria & Eastern
Ry. & Navigation Co.
.;
;
:
Two steam locomotives were acquired with Thd Alloilez
Bay Dock Company's property, and taken up in "Cost of
Equipment" at $8,818 17.
„
There
were
taken out of service:
2 Steam locomotives (sold),
1 Dining car,
77 Ore cars,
2 Tourist cars,
2 Baggage, mail and express cars,
16 Bailast cars,
3 Boarding cars,
? 3 Coaches,
338 Box cars,
:
23 Caboose
wood,
(1 sold),
cars
1 Steam shovel,
2
13 Refrigerator cars,
30 Stock cars,
Supply
cars,
»-
1 Hand derrick ear,
1 Tool car,
1 Scale inspector car.
,
214 Flat and coal cars,
...
5 Sand cars.
;
NEW LINES.
The following new lines
and
were
completed during the
year
opened for operation:
October 1
1912, Fargo to Surrey, N. D_„
226 07 miles
40 28miles
December 2 1912, Vaughan to Gilrnan, Mont
December 8 1912, Mocassin to Lewis town, Mont
30.27 miles
Since the
opening of the Fargo-Surrey Line, the old line
from Ripon to Mason Junction, N.
D., 8.47 miles, has been
removed and trackage rights over the Northern
Pacific Rail¬
way between Fargo and Casselton, N. D., have been
surren¬
dered, both having ceased to be of use.
,
Work is in progress on an extension of the line of
Vancouver
Victoria & Eastern Ry. & Nav. Co. from
Kilgard to Sumas
Landing, B. C., 10 miles, and on an extension
Summit, 26 miles.
from Coalmont to Otter
Construction has been continued upon the
From Niobe, N. D., to the International
new
station called
of its line
following lines:
Boundary at a
Northgate, where connection
is made with
Original cost of this equipment, $486,049 86, has been
to
"Equipment Account".
That amount, less
amounts received for equipment sold and salvage from equip¬
ment destroyed, has been charged against various equipment
"Renewals"
accounts under
Operating Expenses, or to
"Equipment Depreciation Fund".
Amount remaining to
credit of this "Fund" June 30 1913, as shown by balance
sheet on another page, $23,600,526 31, represents full de¬
preciation to that date on all equipment then in service, list
of which appears on another page.
The following conversions were made:
credited
2 Parlor
cars
into Business cars,
1 Baggage, mail and express car
into Open observation car,
into Box car,
1 Box car into Boarding car,
2 Box cars into Supply cars,
1 Stock
car
This resulted in
a
net credit of
"Equipment Account".
1 Box car into Scale inspector car,
1 Flat car into Tool car,
11 Flat cars into Water cars,
1 Flat car into Steam shovel tank,
1 Flat car into Derrick car,
1 Coal car into Derrick car.
.
$14,929 68 to the Company's
"
'
„
Oct. 18
THE
1913.]
giving number, tractive power, weight, &c., of
and number, capacity, &e., of freight cars
Statement
steam locomotives
later page.
appears on a
completed,
been
has
as
follows: Line and grade
Albany Falls, Ida., 9.7 miles; relining with concrete, 4,601
lineal feet tunnels on Butte, Spokane and Cascade divisions;freight train terminal at Gold Bar, Wash.; concrete snow
sheds, total length 1,160 feet, in Rocky Mountains, near
Highgate, Mont.; hotel at Glacier Park station, and 7 camps
in the Park; water-treating plants at 10 stations on Dakota
and Minot divisions, viz.: Devil's Lake, Penn, Church's
Ferry, Leeds, York, Pleasant Lake, Rugby, Towner,
ville and Minot;
extensions of engine-house stalls
Gran¬
5
at
terminal points.
*
/. •
A
Work is in progress as follows: Change of line, 4.7 miles,
between Metum and Interbay, Wash., including double track
Bay waterway; second main track,
Sapperton and Still Creek,'B. C.;
False Creek, and dock at Burrard Inlet, Van¬
steel bridge over Salmon
about 7 miles, between
B. C.; lining of tunnels with concerte on Butte,
Kalispell and Cascade divisions; snow-sheds on Kalispell and
Cascade divisions; new passenger station and power house at
Minneapolis, Minn, (main building, three stories, steel frame,
sandstone facing, 297x155 feet, covers twelve tracks, with
main floor at street level; power house, 50x163 feet, has steel
frame with brick walls.
New station probably will be in
couver,
service by November 1913, and will be one of
and complete passenger stations in
venient
brick stations at Marshall
the most con¬
the country);
and Pipestone, Minn., Helena,
and Lewistown, Mont.; automatic block systems,
protecting 192 miles of track on Terminals, Willmar, Minot
and Cascade divisions; change of line at Collins, Mont., 1.3
miles, including two new steel bridges; change of line at
Windy Point on west slope of Cascade mountains, .4 miles,
including 1,200 lineal feet of concrete-lined tunnels and 890
lineal feet of double track concrete snow shed.
At Allouez, Wis., additional facilities for handling iron ore
have been provided, to wit: 11-stall rectangular engine and
power house, 150-ton mechanical coal chute with fire-proof
power-house, 70-foot, double cinder pit, store house, 30x73
feet, concrete oil house, 20x26 feet, scrap bins, water and
sand supply, sewer system and fire protection, and necessary
trackage; steel approach to ore docks, 3,132 feet long.
Between Congo and Wawina, Minn., 23.39 miles, a second
main track, with automatic block system, has been built,
completing double track between ore docks and Swan River,
Butte
Minn.
1
Additional tourist accommodations have been
58
2
feet;
park, Mont., to wit: 3-story chalet, 42x
dormitories, 34x103 feet; commissary building,
12x34 feet;
Tracks
constructed
National
at Glacier
depot 24x114 feet.
were
laid at 12 mines
on
the Mesabi Iron Range
regular stations.
Net increase in mileage of
sidings, spurs and other tracks, not including tracks on new
lines, is:
and
at
179
55.70 miles
1.14 "
5.28 "
Northern Ry. Co
Controlled Companies in United States
Lines owned by Great
Lines owned by
Lines owned by Controlled Canadian Companies..
Total additional side track mileage on
Main
tracks
old lines
____
rail, 1.70 miles with 80-pound rail, 70.68
683 miles of road; 718 miles of track were
ballasted with gravel, of which 13 miles were on changes of
line on the Spokane division in Idaho, 123 miles on track not
previously ballasted, 180 miles on track where ballast was
restored and an additional lift given, and 402 miles on track
grade line
where ballast
In
work
on
was
56,034
Station facilities
.
done:
A
A
'
Length of steel structures built in replacement..
Length of concrete structures built in replacement
Length of bridges and trestles filled
1,654 lineal ft.
179 "
"
13,780 "
"
15,613 lineal ft.
_
Total
To provide waterways for bridges filled, 94 concrete and
pipe culverts \vere built; 3 concrete culverts replaced timber;
191 concrete pipe and cast iron pipe replaced sewer pipe and
timber.
were
improved
bridges
were
mentioned, is:
as
follows: At Bemidji,
Minn., brick depot, 32x117 feet; at Great Falls, Mont., brick
freight depot, 50x500 feet; frame depots at 8 stations and 2
replacing those burned; extensions, 100 feet, to freight houses
at Wenatehee, Wash., and Vancouver, B. C., and extensions
to depots at 9 other stations; portable depots at 7 stations;"
improvements at 36 stations, such as brick paving of drive¬
ways and team tracks, cement and cinderwalks, additional
and improved station platforms, shelter sheds, grading and
parking station grounds, installing toilet facilities, &e.; 6
loading platforms; 9 machinery platforms; 18 mail cranes;
stock-loading facilities at 25 stations; new track scales, 50
feet, 100 tons * at Duluth, Minn., and Great Falls, Mont.,
steel foundations at Allouez, Wis.; icing facilities at 14
stations; 3 yard offices and 4 display buildings;
warehouse, 80x260 feet; at White Rock, B. C., a
at Seattle, a
frame depot,
house and immigration building with
supply.
At Superior, Wis., engine-house facilities have been im¬
proved, including replacement of wooden pits with concrete,
new cinder pit, and sand house, water tank and pipe lines,
and additional trackage.
A 20-pocket coal chute has been
erected in place of one destroyed by fire.
At Kelly Lake,
Minn., a brick addition to shops 50x125 feet has been con¬
structed, 2 Robertson cinder conveyors installed, and ad¬
ditional yard tracks provided.
At Moccasin, Mont., a
2-stall frame .engine house has been built.
At Grand Forks,
N. D., a hot water sump has been installed.
80-foot turntables at Havre, Cut Bank and Whitefish, Mont., and Hill-
30x145 feet, customs
water
yard, Wash., have been replaced by 92-foot tables. Scrap
bins, 30x180 feet, have been built at Delta, Wash. ^JVater,
supply at St. Cloud Shops, Minn., has been increased.
Deep
wells have been driven at Jackson Street and Dale JStreet
A
Shops, St. Paul, Minn.
65,000-gallon fuel oil tank has been
built and fuel oil pumps installed at five stations on the
Cascade division.
Coaling facilities have been improved at,
7 stations, by raising coal chutes, installing air hoists, &c.
New water stations have been established at Medicine Lake
and Vaughn, Mont.; additional tanks, engines and pumps,
&c.; at 7 stations on Superior division; deep weds at Minne¬
apolis Union Elevator Yards and Minneapolis Junction,
Minn.; additional and improved facilities at 22 other water
stations.
A
; :
•'' /T''"
\
A"'
At New Westminster, B, C., a 14-lever interlocking plant
has been installed, and at Ardley, B. C., 5 levers have been
added, both at crossings with B. C. Electric Company.
Street crossing alarm bells have been placed at 6 stations.
Other miscellaneous structures include section house at
Albee, S. D.; customs building and detention house af Gate¬
way, Mont., and detention house at Rossland, B. p.
Terminal elevators at Superior, Wis., have been improved
by construction of a tunnel and a belt conveyor between
"S" and "X", and a grain-drying plant with capacity of
40,000 bushels daily.
Thereby "Cost of Elevators" is in¬
At
HiUyard, Wash.,
a
creased'
$60,892 72i
Following is a classified statement of amounts
expended for Additions and Betterments:
of
Way
and
Tetal.
Station
$339,425 18
$339,425 18
Grounds
Real
Estate
$231,859 14
and Fills
Widening Cuts
40,141 32
231,859 14
40,141 32
|
actually
Betterments.
Additions.
Accounts.
Right
Protection of Banks and Drain¬
94,437 41
442.180 44
242,468 97
429,174 93
427,232 68
28.855 95
214,467 76
92,215 68
._
Tunnel
Improvements.
Bridges, Trestles and Culverts.
Increased Weight of Rail
Improved Frogs and Switches. _
Track Fastenings and Appurte¬
f
j
nances
A
Ballast
...
931,264
357,939
222,707
36,844
Additional Main Tracks__A___
Sidings and Spur Tracks.
^
Fencing Right of Way.___.i-__
Improvement of Crossings Un¬
der
?4,437 41
44
97
93
68
95
214.467,76
92,215 68
931,264 50
357,939 41
222,707 10
37,763 75
L
age
Grade Reductions and Changes
of Line._
442,180
242,468
429,174
427,232
28,855
50
41
10
41
919 34
-
-
'
,
374 49
20,657 88
3,395 10
*1,242 55
8,503 78
42 08
43 37
39,723 89
457,007 43
Over Grade
or
Elimination of Grade Crossings.
■
Interlocking Apparatus
Signal Appara¬
i
.
,
V
'
"20,657 88
3.395 10
*868 06
Block and Other
tus
Telegraph and Telephone Lines.
Station Buildings and Fixtures.
Roadway Machinery and Tools.
Shops, Enginehouses and Turn¬
124,073 33
26,603 27
Shop Machinery and Tools
47,580 13
14,439 59
Water and Fuel Stations.!
20,314 27
tables
Dock and Wharf Property
erected for double track;
1,056 lineal feet for extensions of existing steel bridges.
Approximate yardage of material moved in work above
70 lineal feet of steel
"
136,880 cu. yds.
--
Terminal Yards.
"
restored.
replacement of existing bridges and trestles, the following
was
758 cu. yds.
■'* "
—
80,088
miles with 77,34-
pound rail, 9.29 miles with 75-pound rail and 16.32 miles
with 68-pound rail.
Table of mileage of weights of rail in
first main track of the Company and Controlled Companies
on June 30 each year for 14 years, appears on a later page.
Excluding fences on new lines, 82.46 miles right-of-way
fence were built, of which 13.39 miles are on lines in Canada.
Embankments were widened or restored to original width
and
old lines:
upon
90-pound rail, 8.05 miles with 85-pound
435.55 miles with
H
62.12 miles
relaid with heavier metal, as follows:
were
placed
were
Concrete
Total
changes between White Earth and Tioga, N. D., 8.6 miles,
Pack River and Colburn, Ida., 2.8 miles, Sand Point and
terminals at
And there
Masonry
Riprap
,
ADDITIONS AND BETTERMENTS.
Work
1133
CHRONICLE
~
and
Sand
Fences
935 77
A
44
2,916 20
86
26
76
27
201,374
30,623
187,076
191,052
*9,379
3,851
21
55
09
44
77
97
and
134,530 71
Additions
and
165,951 19
300,481 90
374,099 54
Sheds
Snow
Other
08
96
82
*9,379"77
Electric Light and Power Plants
Electric Power Transmission
Snow
153,794
16,183
166,761
191,052
8,545
39,767
581,080
26,603
48,513 36
422,612 90
Better¬
ments
grades (of which
used in filling at Seattle and
In Changes of lines and roductions of
763,000
cu.
yds.
were
Interbay, Wash.)
i
Widening, raising and restoring banks
Ballasting (gravel)
;
Filling bridges
;
Filling tide lands at Bellingham, Wash
...
Filling tide lands at False Creek, Vancouver, B. C.
Filling Burrard Inlet Dock, Vancouver, B. C
__
'
\ Total
1,603,688 cu. yds.
727,250
"
"
1,005,734
" "
439,863
" "
83,570 "
"
_
862,700 "
"
111,900
" "
4,834,705 cu. yds.
$2,670,440
Totals
♦Credits.
A
40[$3,468,569 18 $6,139,009 58
'.
Additions costing $48,462 32, a
Betterments costing $63,271 23, were made to properties
Controlled -Canadian ComDanies: Additions costing $74 ",
Of total amounts shown,
1124
THE
CHRONICLE
385 32 and Betterments
costing $186,238 06 were, as shown
on
another page, charged to the fund received with
Brought forward
Deductions from Gross
Corporate Income—•
Thq
properties
Allouez Bay Dock Co.,
leaving as expended on
owned by the Great Northern
—
,«t
Betterments
i.
—
—
-
Equipment—Balance..
Total
Deductions from
$772,042 59
85,554 64
6,458,506 36
j
Bond Interest Accrued
SI,880,592 76
3,219,059 89
Gross Corporate Income
Net Corporate Income
Total
$5,099,652 65
These
condition
than
before.
ever
$24,568,313 78.
$3,674,664 00
..
'
M'
7,316,103 59
.
....
Against which have been
Charged—
Dividends on Great Northern
Ry. Stock—
Aug. 1 1912, 1M% on
$209,980,800
Nov. 1
1912,TM <0 on 209,980,800
Feb. 1 1913,
on
1%% uii 209,980,900
May 1 1913, \%% on
209,980,900
liberal expenditures show that the
Company's road¬
bed, tracks and equipment not only w6re fully maintained
during the year,, but greatly improved, and are in better
XCYIU
——.—$31,884,417 37
Rentals Paid...
Hire of
Railway Company:
Additions
[Voii.
3.674.664 00
3.674.665 75
3,674,665 75
Total
Respectfully submitted,
Dividends on Stock..
$14,698,659 50
Interest Accrued on
Payments made on Sub¬
scriptions for $21,000,000
additional Capi¬
C. R. GRAY,
President*
tal
Stock__r
209,320 27
_
Appropriations
to Cover—
Renewal of Allouez
Bay Ore Docks
ACCOUNT—REVENUES, OPERATING EXPENSES,
FOR THE FISCAL YEAR ENDED JUNE 30 1913 OF THE
LINES OPERATED AS GREAT
NORTHERN RAILWAY COMPPANY AND THOSE
INDEPENDENTLY OPERATED: MINNE¬
APOLIS WESTERN RAILWAY
COMPANY AND DULUTH TER¬
MINAL RAILWAY COMPANY.
&C.,
"Fund for
Revenue from
Permanent Improvements and
....
Total
4,250,000 00
.
_
...
20,286,145 59
Balance, transferred
to Profit and Loss
—
—
"$4,282,168
...
Year ended June 30 1912
19
Per cent
Transportation.
Freight
Passenger
Baggage
of total:
Amount.
Amount.
74,2460 $58,426,235 69 $47,877,369 06
19.2630
15,158,588 44
13,623,008 91
.2158
169,770 85
160,638 08
Parlor and Chair Car—
.1037
81,632 50
79,025 75
Mail
J—.
2.6261
2,066,565 10
2,055,820 00
Express
2.2585
1,777,248 74
1,570,972 23
Other Passenger Train
Revenue
.0075
5,920 14
5,621 84
Excess
of total.
Note.—As in former years, the
Company's proportion of Interest Accrued
Northern Pacific-Great Northern
Joint C. B. & Q. Collateral Bonds and
Dividends Received on the C. B. &
Q. Stock deposited to secure
said Bonds, have been
omitted in the above Income Account to make
it
more clear, those items
counterbalancing.
' 5
72.3247
on
of the
20,5792
.2427
.1194
—
.
750,000 00
B etterments'
Revenues.
Year ended June 30 1913.
Per cent
128,165 82
250,000 00
Depreciation of Steamship
Property
Refunds, "Minnesota Rate Case"
REVENUE
-
-
3.1056
2.3731
.
'
Switching
.7099
.0493
._
Revenue
51,319 86
58,559 69
Transportation
-
'
ASSETS.
■
' *
.0885
Cost of
leges
99.5775
*
-
,
Cost of Elevators
"
1
,
2,220,016 89
Total
Telegraph
.0631
.1532
—
Service.....
Rents
of Buildings
Other Property
49,680 99
120,519 90
25,589 84
.
'
.0325
42,188 75
101,423 59
19,903 28
and
.0403
.0223
.0637
Cost of Road
Cost of Equipment
.1532
.0301
17,554 54
101,144 13
11,452 70
63,392 93
.4550
$358,045 75
$279,711 98
.4225
100.0000 $78,692,767 22
$66,197,818 99
100.0000
Total....—...
....
Year ended June 30 1913.
Amount.
Maintenance of Way and
26.8837 $12,328,650 88
...
1,297,853 70
Ex-.100.0000 $45,859,254 52 $37,662,547 73
100.0000
1,242,553 12
21,492,812 03
1,430,599 99
Co
2,150,000 00
4,201.968 07
666,710 54
Co
280.000 00
Nelson
.
9,364,638 50
2,093,612 04
310,61907
Red
Vancouver
Victoria & Eastern Ry.
Navigation Co
New Westminster Southern
Ry. Co
Total
of Road Operated—
y
1913.
Revenue from Transportation
$10,191 71
Revenue from Operations Other than
Transportation
46 58
-------
1912.
Gross Operating Revenues..
Operating Expenses
..$10,238 29
5,966 50
...
Net Operating Revenue.
Net Revenue from Outside
-
Operations
Total Net Revenue
Taxes Accrued...
...
..
•
.
$4,271 79
Ry. Co..
15 72
$3,888 06
556 69
$3,414 69
7,686.12
7,369.00
Cost
of
Total
■
—
Railway Property.
.—'
—
—
..
Average Miles of Road under Operation..
Operating Expenses, per cent of—
Operating. Expenses and Taxes,
,.
per cent of-
Cost
of
in hands of Trustee of N. P.-G.
N.,
Q. Collateral Joint Bonds (1,076,135 Shares of
-
■■■'-'
Stocks, not including Stocks of the Railway
and
Union
Depot Companies
62.05
above listed
listed:...
Issued or Assumed
Northern Ry. Co.,
:
COMPANY
AND THOSE
INDEPENDENTLY OPERATED:
MINNEAPOLIS
WESTERN RAILWAY COMPANY
AND DULUTH
TERMINAL
RAILWAY COMPANY.
*
••
••
.
V
Net
Operating
■■■'
J ;■
1
"
Glacier.Park Hotels and
Camps, Loss
Boarding Camps, Loss
$193,016
70,552
16,651
8,713
8,879
Income
Income—....
Rents Received..
Dividends on Stocks Owned.
4*
57
30
Interest..,
121,522 92
4,278,776 85
.k.
ross
vV.<.
.•
?;
Corporate Income..
Other Investments.
.
and
Advances
to
.
——
—
—
y\,
Other
than
Cash....
Central
Trust
Company
'I..
$5,117,632 97
of
New
York,
pay matured but un-
M. & M. Ry. Co.
Dakota Extension Mortgage Bonds
Bills
'
2,000
6,500,429
4,173,200
186,011
12,743
.
Receivable
Due from Agents
Due from U. S. Post Office Department..
Due from U. S. Transportation
Due from Canadian Post Office Depart¬
ment
:
—
3,208,158 60
00
20
•
j
J
19,796,737 33
—
hand
"
^.
*•
""
**
'
'»
6,692,877 15
over
r
.—
*
.
3,707,590 66
on
_L
Excess of Working Assets and Deferred Debit
Items
Working Liabilities and Deferred Credit Items
i
.
82
Total
--$31,884,417 37
,
25
40
4,44773
92,681 30
—
Charges
Total
—
Value of Material and Fuel
5,651 12
6,341,822 39
—$616.812,32l'l0
,
Other Accounts Receivable
206,588 25
963,968 33
1,367,405 88
Total Other Income
■'
(
Investments
Total
Advanced
$664,545 02
.
Income
■
Special Deposit to
presented St.
P.,
.$28,676,258 77
Bonds Owned
Miscellaneous
y
—
.
Operating
..
86,996,326 90
Current Assets.
03
.$32,955,035 62
Other
General
.
...
Railway Taxes Accrued
••
Railway and Union Depot Companies above named....
Total Net Revenue
on
'
73
09
Net Revenue from Outside
Operations.
Interest
28,069,000 00
27,239,101 00
:
-
Miscellaneous
.
Sleeping and Parlor Cars
Dining and Buffet Cars, Loss
Eating Houses, Restaurants, &c_
'
v
Great
Total
$32,833,512 70
...
the
Issued by Other Companies...
.
,
by
"
t
\
$78,692,767 22
45,859,254 52
Revenue.
Outside Operations—
Net Revenues from—
■'v
'
$31,688,225 90
above
v
Operating Income—
109,114,809 76
"■/
Bonds-, not including Bonds of the Rail¬
way
and- Union
Depot , Companies
Fiscal Year ended June 30 1913. •
LINES OPERATED AS GREAT
NORTHERN RAILWAY
"':,
Ry. Co.
—
Other Securities Owned:
'
y
y
14,106,000 00
Securities
&
C. B. & Q. RR. Capital Stock—Great Northern
one-half owner)...I.
INCOME ACCOUNT.
Operations—
Operating Revenues
Operating Expenses
i
;
57.14
56.89
63.62
Rail
455,763 08
.$400,253,362 05
—
Bonds, the payment of which is assumed by Great Northern
Ry. Co., held by Mortgage Trustees; see contra
C. B.
58.54 '
58.28
n
-
y
.
—
Securities Owned.
Operating Income
•
157,759 97
;
__
Total
'
$103,600 00
194,403 11
473 37
$3,730 91
by
Construction purposes:
"
St. Paul Union Depot Co
Minnesota Transfer Ry. Co
Lake
Superior
Terminal
&
Transfer
$3,872 34
15 81
y;
represented
their Stocks, Bonds and Advances for
5,110 94
$4,287 60
—
_
Companies,
•
$8,983 28
-
34,106,090 46
—
Investments in Union Depot and Terminal
$8,945 32
37 96
—
19,482,092 15
279,921 27
.i.
—
Per. Mile
•
&
,
pensas
«
Bedlington & Nelson Ry. Co
& Fort
Sheppard Ry. Co
Mountain Ry. Co....
20.8554
2.8934
48.3239
3.4460
20.4204
Traffic Expenses.——
2.7095
Transportation Expenses 46.8669
General Expenses
3.1195
Operating
Ry.
24.4813
7,854,687 04
1,089,710 48'
18,200,010 64
ment
752,267 48
...
$406,735 33
2,172,940 49
2,061,491 50
Brandon Saskatchewan & Hudson's
Bay
Crow's Nest Southern
Ry.
Kootenai Valley Ry.- Co
of total.
$9,220,285 87
Maintenance of Equip¬
Total
Amount.
-
Stock and amounts advanced for
Con¬
struction purposes:
Duluth Terminal ,Ry. Co
Midland Ry. Co. of Manitoba..
Manitoba Great Northern Ry. Co.
Per cent
of total.
Structures
$739,850 10
12,417 38
.
—
Year ended June 30 1912
Per cent
:>J
,
Investments in Other
Railways whose lines
form a part of the Great Northern
Sys¬
tem,
represented \ by
their
Capital
.0957
Operating Expenses.
Class.
....$364,939,241 03
—
v
Total
Operating Rev¬
enues
'
.0173
1285
..
Property of the Minneapolis Western Ry.
Co., the 'entire Capital Stock of which
is owned, by Great
Northern Ry. Co.:
.0222
-
.Miscellaneous.'
Gross
$26,682 63
14,668 10
,
'
.
Baggage—.
Service
$27,027 93
16,528 42
*
.
Property owned by Great Northern Ry, Co.:
^
Cost of Road
$293,959,139 94
Cost of Equipment
68,760,084 20
:r'\:■
.0344
.0210
'
•
Property.
——
Parcel Room Receipts..
Storage—Freight and
'
•
_
99.5450 $78,334,721 47 $65,918,107 01
other than Transportation.
Station and Train Privi-
♦
CONSOLIDATED GENERAL BALANCE
SHEET JUNE 30 1913.
.0465
from
Revenue from Operations
Oar
.0085
.6893
456,300*99
30,790 46
'.■
tation Revenue.
Total
558,621 92
38,818 23
.0652
Special Service Train.
Miscellaneous Transpor¬
*•
645,916 17
.$643,947,851 75
-
i
'in
'
.ii,!.
;'
Oox. 18
Brought* forward
$16,772,026 43
Cost of Equipment
$8,055,352 71
Equipment acquired from
The Allouez Bay Dock
Co
8,818 17 $8,064,170 88
LIABILITIES.
'-I
Capital Stock.
Authorzed Capital Stock of Great Northera Ry. Co. issuable June 30 1913
$210,000,000
Less—Held in Treasury unissued as ex¬
"""
plained on
00
9,250 00
previous page
a
Payments received on subscriptions for
shares of New Stock
12,958,546 00
Funded Debt.
Co.
Ry.
explained
as
Public as per
$143,655,909 09
contra.
Total
,
;
by Great Northern Ry.
panies, Increased—
Advances, Minnesota Transfer Ry. Co..
V
185,830,909 09
—,
Collateral 4 per
N.
...$215,227,000 00
.
Co.'s
Ry.
pro-
.
Total
Capitalization...
—
— —
Less, Bonds redeemed
Bills and Accounts
Unpaid Pay Rolls
Unpaid
Coupons,
July 1 1913
_.—
...
due
those
Total
Value
:
r
3,224 00
Accrued Liabilities Not Yet Due.
Interest
146,004 16
Stock
on
Subscriptions
Accrued
;
2.287,167 87
Total
Betterments
Hocks
to
<
.
■
.
'
•
Insurance Funds.
33,593,490 71
Balance.
•
WAY
November
since
1
ST. PAUL MINNEAPOLIS & MANITOBA RAIL¬
COMPANY'S
CONSOLIDATED MORTGAGE BONDS,
FISCAL
YEAR
ENDED JUNE 30
1913.
Debits—
—
'
'
'
the Trustee and canceled, $102,000 00,
.
purchased by
costing.
76,507,446 14
...
.
.
$4,619 64
101,068 32
$105,687 96
635,000 00
45,143,106 42
Bonds
Total
'
1907
through operation of the Sinking Fund—
Profit and Loss
Total
V
"
By Balance to credit of Sinking Fund, as per page 54 of last
year's report.....
—
— — From Land Department, as per Land Commissioner's report..
manent
retired
92,333 59
5,117,632 97
.-•——$55,733,495 69
Credits—•'
the property of the Great Northern
Ry. Co. and paid for from "Fund for Per¬
Improvements and Betterments" $30,729,339 72
St. P. M. & M. Ry. Consolidated Mortgage
to
Bonds
14,698,659 50
'—
SINKING FUND
\
Cost of Additions and Improvements made
.
883,871 07
167,490 05
...——
—
v
Total.
.
$716,381 02
Total
128 165 82
750,000 00
1,024,374 94
_
Fund for Minnesota Rate Case Refunds..
2,543,196 10
1,748,205 70
—
23,600,526 31
.
65
05
Profit and Loss—•
,
-"'V-'
Net debit from sundry adjustments during year..
Cash on hand and in banks June 30 1913—
— ,— — — — —
cover
.
Increased
Dividends Paid-
$8,090,423 64
i
aside
Depreciation
of Equipment now in service
Fund for Depreciation of Allouez Bay Ore
set
188,114 90
Liabilities and Deferred Credit Items,
2,952,020 12
Unexpended Balances in Sundry Funds.
Permanent Improvements and
'
for
Fund
—_■
;
Deferred Liabilities, Decreased—•
Balances due Affiliated Companies.
Excess of Other Working Assets and De¬
ferred Debit Items over Other Working
Deferred Liabilities.
Balances due Affiliated Companies
Amounts
$4,100,400 00
2,886 90
... _
210,000 00
not due
1,249,521 67
.
Less, Increase in amounts:
Unpaid Vouchers
...$1,312,741
Unpaid Pay-Roils—.—
435,464
\
$1,931,163 71
....
Bond Interest Accrued not due
2,180,372 41
Increased
of Material, Fuel, <fcc., on Hand,
$4,291,401 80
12,214,021 82
.........
Accrued Taxes not due
4,563,500 00
"
722,676 08
...
115,000 00
Unpaid Coupons._ —
Other Accounts Payable
2,765,755 13
—
Matured Bonds and Debentures Unpaid..
Other Accounts Payable....
50,000 00
Current Liabilities Decreased—
Bills Payable....
3,197,908 73
—
including
•
\'
-
Investments and Advances, Increased
Amount of Miscellaneous
$1,489,256 11
4,035,201 77
Payable
Audited Vouchers Unpaid
•:
$4,448,500 00'
—
$165,000 00
Other Bonds
.$516,393,705 09
Current Liabilities.
♦
&
:
Acquired
8,297 89
4,359 97
— —
Ry. Co
Seattle
107,613,500 00
$3,937 92
Terminal & Trans¬
Advances, Lake Superior
fer Ry. Co
Bonds of Other Companies, Increased—
Cost of Bonds of Spokane Portland
V
•
—107,613,500 00
portion, one-half
and Terminal Com¬
Investment in Union Depot
14,106,000 00
— .
Railway Property Owned
.$24,396,110 49
Co.
Total Expenditures for
:
■
shown
Outstanding
P.-G. N., C. B. & Q.
cent Joint Bonds..
Less—Northern Pacific
:
:
V
—
— .
_
;
;
28,069,000 00
___—
7,563,191 34
60,892 72
Cost of Elevators
'
■,
previous
a
on
page and shown contra.....
Held
by Mortgage Trustees,
500,979 54
14,929 68
Increase in Cost of Equipment—
Great Northern
Held in Treasury of the
$486,049 86
adjustments
in ac¬
counts caused by trans¬
fers between classes
Great Northern Ry. Co.:
Outstanding in hands of the
statement on a later page
of Equipment
Out of Service....
And
Authorized 210,000
.
Bonds Issued or Assumed by
Cost
Less,
--$209,990 750 00
Issued and Outstanding
1125
CHRONICLE
THE
1913.]
Balance, applicable for redemption of bonds......
I—$643,947,851 75
101,596 40
$4,091 56
—
RESOURCES AND DISBURSEMENTS YEAR ENDED JUNE 30 1913.
STATEMENT
RESOURCES.
Cash
on
HANDS OF
OF BONDS AND STOCK OUTSTANDING IN THE
THE PUBLIC FOR WHICH THE GREAT NORTH¬
COMPANY IS RESPONSIBLE, DIRECTLY
ERN RAILWAY
$12,829,424 79
hand and in banks June 30 1912
,
Net Corporate
J
Income
24,568,313 78
—
—
—
Investment in Controlled Companies Whose Lines Form a
Reduction in Book Value of. Sundry Stocks Owned—
Duluth Superior & Western Terminal Co—$1,999,500
Loss
;
—
—
Received account Liquidation
Co. stock
;
.
•
00
00
00
00
09
9,695,000 00
8,600 00
00
518,864 00
1,489,240 00
3,625,000 00
2,150,000 00
650,000 00
Current Assets Decreased—
$495,031 40
2,642 76
i
Bills Receivable
Duo from U. S. Post Office Department—.
Due from U. 8. Transportation
Other Accounts Receivable.
V
'
,
—
Less, Increase in Amounts:
Due from Agents.
Due from
Canadian
"
."
—
.
— —
— .
Division,
First Mtge., 4%-.1948
Montana Central Ry. Co.
First Mtge., 6%.—1937
First Mtge., 5%.-.1937
Will mar & Sioux Falls
Ry. Co.
First Mtge., 5% —1938
Minneapolis Union Ry.Co.
First Mtge., 6%. —1922
First Mtge., 5%. —1922
Spokane Falls & North¬
ern Ry. Co.
First Mtge., 6%-u.l939
era
$663,333 56
294 17
28,970 32
692,598 05
Payments received on Stock Subscriptions..
i——
Accrued Liabilities Alot Due, Increased—
Accrued Taxes not due
Interest
on
Stock
9,695,000 00
387,800 00
6,000,000 00
4,000,000 00
360,000 00
200,000 00
f:
3,625,000 00 1
,
181,250 00
2,150,000 00
650,000 00
129,000 00
32,500 00
13,740 00
229,00(100
_
Amount
„
„
$4,971,006 36
—.—$108,655,909 09
Ry. Co
•
~
Issued
...
—
35,000,000 00
1,162,298 62
12,958,546 00
$410,087 72
Subscriptions.$210,000- 00
209,320 27
Less, Accrued not due.
00.
00
00
00
36
Northern
of Bonds
Assumed by Great North-
Post Of¬
fice Department
-
229,000 00
$800,640
954,900
340,140
407,400
1,163,636
z-
—
--.
$108,757,909 09 Total
$1,854,896 67
•
Advanced Charges
■
39,432 37
1,317,790 14
—
1912-1913.
1933 $13,344,000 00
21,220,000 00
-1933
8,467,000 00
-1933
Montana Ext., 4%.1937
10,185,000 00
Pacific Ext., 4%
29,090,909 09
1940
Eastern Ry. Co. of Minn.
6%
4H%
4%
-
6,000,000 00
4,000,000 00
$2,008,104 00
00
Paid
j
Consolidated Mortgager
$13,344,000
21,220,000
8,569,000
10,185,000
29,090,909
Le Roi Mining
Less, Stocks of Other Companies
acquired...
$440,870
Subscription on New Capital
Stock of Company.
77,994
Annual Charges
.;
St. P. M. & M. Ry. Co.
80,842 27
4 00
'
'
—
In Hands of
PUblic
•
July 1 1913.
Due.
Railway Co.
July 1 1912.
00
Reduction in Values Charged to Profit and
UNDER GUARANTY.
BONDS.
Assumed by Great Northern
Public
of the Railway System, Decreased:—
Everett & Cherry Valley Traction Co
..$1,058,600 00
Less, Expended on Controlled'Companies:
In Canada—
—.$968,876 25
In United States
6,881 48
975,757 73
OR
In Hands of
Part
-
*.
"
by Great Northern rivU
Railway Company.
First and Refunding *. ? ,*•Gold Bonds, Series
i'
1^1^'""
1,487,500 00
"A," 4M %--—-1961
35,000,000 00
r
$143,757,909 09 Total Bonds on Railway
;
Property outstanding in
Wl/.
,
v.-.r -J:
j
-
.
410,767 45
679 73
....
Hands of
Public—--$143,655,909 09
STOCK.
Sundry Reserve Funds Increased—
Fund for Permanent Improvements and Betterments
(not 1 including amount trans¬
ferred to Fund from Income or Expendi-
■'.-■■■
-
209,990,750 00 Issued by Great Northern
Railway Company
—
209,9.90,750 00
-*
$6,458,506 36
;
14,698,659 50
-----
$19,687 25
$353,748,659 09 Total Bonds and
71
Stock..$353,646,659 09 $21,157,165 86
2,234,062 78
82
In addition to the bonds listed on
Total
.$55,733,495 69
—
—
DISBURSEMENTS.
->
Expended for Railway Property:
By the Great Northern Railway Co.—
$6,050,323 34
Cost of Construction
and Northern Pacific
Total Bonds and Stock, as shown above.
Miles of Road owned by Great Northern Ry.
—
Cost of Additions and Bet¬
$6,027,276 03
terments..
trolled Companies—
Less, Paid for out of funds
by The Allouez Bay
Dock Co. for Corporate
pany
...
above
927,623 38
Cost of Road
Of The Allouez Bay DockCo.
Cost ,of Road of Everett & Cherry Valley
//•
Traction Co...
Increase
in Cost of
page,
the Great
.
—
-.—.---.$353,646,659 09
Co. and Con¬
7,464.45
——
—
Road......!
^-
...
Bonds and Stock per
Bonds
4,565,450 44 .\
'
,
-
;
1,056,600 00
..
capitalization
_ , - -—
>
,
-
7,688.85
Mile of
5,099,652 65
-
Northern
Issued their joint C. B. &
Mileage of Main Tracks in System, including second, third,
fourth, fifth and sixth main tracks, covered by the
turned over to the Com¬
purposes
preceding
Railway Companies have
Q. Collateral 4% bonds to the amount Of $215,227,000 00 secured by
deposit with the Standard Trust Co. of New York, as Trustee, of 1,076,135
shares of the Capital Stock of the Chicago Burlington & Quincy Railroad
Company.
•'D : . "
,.$16,772,026 43
'
...
Stock.
Totals
Main Tracks.
$19,245 34
28,132 11
$18,683 67
27,311 07
—
...
—
— —
—
—
— .
Total
Mile of Road.
—
.$47,377 45
$45,994 74
gt^fc=3S"i
1
1126
THE
STATISTICS
OP FREIGHT AND
PASSENGER TRAFFIC
•
.
CHRONICLE
ON SYSTEM—FOR
PREVIOUS YEAR.
THE
[Vol.
YEAR
ENDED
JUNE
30
xcyii.
1913, COMPARED
WITH
Increase.
DESCRIPTION.
1913.
1912.
Amount.,
PerCent
1
FREIGHT TRAFFIC—
Freight Train Miles
I
-
,>■
11,236,762
...
9,523,132
1,713,630
792,604
—
837,170
44,566
17.9944
"
Decrea
Mixed Train Miles.
se.
5.3234
Incr
Total
ease.
12,029,366
10,360,302
1,669,064
16.1102
470,472
3.9110
359,375
111,097
30.9139
331,633,393
140,326,000
11,549,059
283,866,677
109,498,857
9,766,463
47,766,716
16.8272
30,827,143
1,782,596
28.1529
483,508,452
403,131,997
80,376,455
19.9389
33,626,638
4,897,676
27,543,172
4,014,293
6,083,466
883,383
22.0059
38,524,314
31,557,465
6,966,849
22.0767
Mileage of Locomotives employed in "helping" Freight and Mixed Trains.
Percentage of "helping" to Revenue Train Miles—
____ —
Loaded Freight Car Miles.
....
—
———
Empty Freight Car Miles
Caboose Car Miles
Total
—
——.
_
_;
—
"
3.4688
.4422
18.2522
Tons of Freight Carried—
Revenue
:
Company,
—
;
...
.
Total
Tons of Revenue Freight Carried One Mile
Total Tons Carried One Mile (Revenue and
Freight Revenue
Averages—
■>
-
All Freight Cars per Tain Mile..
Tons Revenue Freight per Train Mile
Tons Revenue Freight per Loaded Car Mile
Tons Revenue Freight Carried One Mile
per
1,406,342,222 22.5829
1,555.163,751 21.6691
$10,548,866 63 22.0331
*">*■
v.'-,,
40.19
634.618
...
L
38.91
601.113
/
23.020
$4 86
-
Mile of Road——
$6,497 13
.7653
...
5.5738
4.9273
148,103 17-5244
r
.91
.4025
$0 24
5.1948
$1,104 40 16.9983
.7688
.
v
Revenue per Ton Mile—Cents
r—_—_
_
3.2896
1.081
845,123
226.11
$4 62
$7i601 53
_•_■
\
1.28
33.505
,
21.939
993,226
227.02
Mile of Road
per
6,227,714,227
7,176,867,062
$47,877,369 06
.
j_,
Distance Haul of One Ton—Miles
Freight Revenue per Train Mile
Freight Revenue
7,634,056,449
8,732,030,813
$58,426,235 69
Company Freight).
22.0879
Deere
r'
ase.,
.0035
.4553
f.i1
PASSENGER TRAFFIC—
Passenger
Train
Incr
Miles
12,079,049
11,601,716
792,604
Total
;
12,871,653
Passengers Carried
_■
.Passengers Carried One Mile
Passenger Revenue
Passenger Service Train Revenue...
....
...
...
'
AVCVCLQGS'—
*''■
k' T
••
Passengers Carried One Mile
Mile of Road
per
a.
Distance Carried—Miles
Revenue per Passenger per Mile—Cents
Passenger Service Train Revenue per Mile of Road
Passenger Service Train Revenue per Train Mile..,,..
TOTAL TRAFFIC—
Revenue Train Miles—
Freight
Passenger
.
...:
....
Mixed
Special
Service
Total
Revenue from Transportation.
Operating Expenses
...
...
Net Revenue from Transportation
Revenue Other than Transportation.
Net Operating Revenue.
__.
Averages—
Revenue from Transportation
Operating Expenses per Train
Train Mile.
per
Mile...
Net Revenue from Transportation per Train Mile..
Revenue Other than Transportation per Train Mile.
Operating Revenue
per
Train Mile
=.
EQUIPMENT OF THE GREAT NORTHERN RAILWAY COMPANY
AND
OPERATED LINES
ENDED JUNE 39
ENDED JUNE 30 1912.
ACTUALLY
YEAR
1913,
AS
IN
SERVICE
COMPARED
Class—
.
Steam
29
Compartment Cars___
45
1
Gas-Electric Motor Cars__
44
1
a
1
-
1
'
■
27
i;044
11047
•
30,418
50
50
1,879
1,109
1,910
Cars
._
37,152
._
6,298
33,487
._
..
2,490
6,975
1.317
6,375
14,154
115
75
502
518
628
^
586
Cinder Cars..
100
Boarding Cars
100
136
138
97
96
Derrick and Tool Cars
Steam Shovels
Lidgerwood Unloaders
20
iJ__
Pile Drivers
21
21
12
Rotary Snow Plows
Equipment—
Total Freight and Work
12
10
10
55
Dozers
Other Work
1904238
55
143
Equipment.r___
131
55,433
49,403
'•
74,344
;
70.464
5.9884
4,452
67.069
3.395
2.503
2.487
.016
$2,505 78
$2,374 15
$1,406
•
■
$1,496
11,236,762
12,079,049
.
5.0620
.6433
5.5443
6.4011
$131 63
7
$.090)
9,523,132
11.601,716
1,713,630
477,333
17.9944
4.1143
Deere
792,604
837,170
44,566
23,895
17,277
6.618
ase.
5.3234
Incr
24,132,310
21,979,295
$78,334,721 47
$65,918,107
37,662,547
28,255,559
279,711
28,535,271
45,859.254 52
32.475,466 95
358,045 75
32,833,512 70
$3,246
1.900
9,7957
$12,416,614
8,196,706
4,219,907
78,333
4,298,241
46 18.8364
79 21.7635
67 14.9348
77 28.0052
'
v
'
.015
1.361
44 15-0629
8.2361
.186 10.8518
,$•247
1.714
'
;■
...
38.3053
2,153,015
01
73
28
98
26
$2,999
1.346
ease.
"1.285
.013,
1.298
.061
4.7471
.002 15.3846
.063
4.8536
AND OPERATED LINES ACTUALLY IN SERVICE ON JUNE 30
OF EACH OF THE YEARS BELOW NAMED AND ALSO SHOW¬
ING THE TRACTIVE POWER AND WEIGHT OF STEAM LOCO-
MOTIVES AND CAPACITY
1900
OF
FREIGHT CARS.
Steam Locomotives.
»
Tractive Power
Weight in Tons Ex-.
elusive of Tender.
in Pounds.
Number
Average
Total.
550
12,147,810
563
608
12,847,630
15,050,560
1903
637
1904
1905
707
1906
786
708
1907
943
1908
1,081
1,073
1,123
1,169
1909—
1,187
1,280
_—
Total.
pcrEngine
1901
—-—
Average
Wt. per
Engine
1902
22,087
22,820
24,754
25,555
26,918
26,959
27,938
30,048
31,821
31,733
32,628
33,249
33,744
36,492
16,278,760
19,058,360
19,060,270
21,959,730
28,335,770
34,398,875
34,049,845
36,641,215
38,868,760
40,054,060
46,709,400
31,536
33,236
38,805
41,792
48,431
48,416
Average
perEngine
on
Drivers
in Tons.
57.34
46.25
59.03
47,56
63.82
50.90
65,61
54.42
68.41
68.48
71.98
78.28
56,579
73,817
89,190
88,696
95,885
100,907
103,620
86.32
87.30
117,529
57.59
57.68
91.82
59.41
63.53
82.51
66.87
66.72
82.66
85.38
68.55
71.05
71.78
75.98
Freight Cars.
Ry. Companies jointly.
Capacity (in Tons).
Number.
June 30.
'
-
1910
548,185
606,701
688,594
839,606
932,332
951,812
1,041,707
1,282,683
1,457,236
1,474,387
1,569,226
1,660,854
1,731,603
22,989
24,944
28,426
30,791
——
1906
1907.
1909
Total.
21,484
31,277
1905-—
1911
Note.—The above list does not include 2 Steam
Locomotives and 2 Ca¬
boose Cars owned by the Midland Ry. Co. of Manitoba
and which company
is owned by the Great Northern and No. Pacific
.0005;—
426.709
15.2239
57,795,794
110.5497$1,535,579 53 11.2720
1,764,63$ 96 10.0865
(Includes Box, Transfer, Freight, Refrigerator, Stock, Flat, Coal, Gondola,
Sand and Ore Cars—both Wood and Steel.)
16,443
Caboose Cars
3.4791
\
6,634
« 4.0769
,* " Deere ase.'t; -
EQUIPMENT OF THE GREAT NORTHERN RAILWAY COMPANY
1913
5,777
432.767
1.4026
78,796
•
1912
685
Snow
5.3234
ease.
Increase.
1911
..32,727
,
Oil Tank Cars (Steel)
Ballast Cars
1.4021
1910
Freight Equipment:
Box Cars
Transfer Freight Cars____
Refrigerator Cars
Stock
_
30
Passenger Equipment.
,
44
338
2
1
Business Cars
,
62
337
_
Open Observation Car
•
368
60
;
46
365
Passenger and Baggage Cars_d
Baggage, Mail and Express Cars___
Total
3i
35
35
;
■
__,
96
162,722
8,595,073
8,168,364
605,639,343
547,843/549
$15,158,588 44 $13,623,008 91
19,259,725 77
17.49&086 81
June 30.
________
Cars
1,191
96
Dining Cars.
Tourist
4
*
1,284
,
Parlor Cars
Observation
4
—
;
Passenger Equipment:
Sleeping Cars
Coaches
1912.
1,187
.
Total Locomotives
'
THE
YEAR
1,280
.
Locomotives
Electric Locomotives—
«
FOR
WITH
1913.
Locomotives:
.
44,566
12,438,886
169,356
_
Percentage of "helping" to Revenue Train Miles..
■
ase.
Incr
Mileage of Locomotives employed in "helping" Passenger Trains.
Net
4.1143
Deere
837,170
"
ease.
477,333
L-
Mixed Train Miles.
33,296
38,385
-
42,131
—
_r_
-------
—
w -<u—
-
1913——1-5.
—
42,280
44 r283
46,101
47,641
53,595
3
1,985,768
Average
<
per
25.52
26.39
27.60
J
29.54
30.28
30.43
<
31.29
33.42
:
J
: ••
34.59
34.87
35.44
36.03
36.35
37.05
Car
OCT. 18
FIRST MAIN TISAOK LAID WITH EACH WEIGHT OF STEEL RAILS ON JUNE 30TH
(Does not include rails laid in Second, Third, Fourth, Fifth and Sixth Main Tracks.)
NUMBER OF MILES OF
1932
1127
CHRONICLE
THE
1913.]
OF EACH YEAR SHOWN
Weight per Yard in Pounds.
90
85
80
Miles.
Miles.
Miles.
70
68
66^
Miles.
Miles.
72
Miles.
Miles.
Miles.
Miles.
122.28
1901—
269.21
245.63
259.35
1900
274.61
755.19
1,155.26
927.72
1,152.62
1,030.62
257.53
254.53
i9oi::::::
1906
469.72
646.69
1907-—.
410.25
622.52
1908—
748-33
1,085.00
1,168.73
1,145.05
1,089.73
1,062.75
1,049.90
602.60
584-52
562.48
mi
1909C—■
11
:
1<
838.81
691.50
739.74
720.14
506.46
765.91
664.14
738.34
923.81
102.00
897.08
909.91
111.12
111.12
813.50
712.62
709.79
45 61
100.04
150.38
191.17
191.17
209.38
212.32
25.29
24.82
680.61
94.96
940.03
111.12
110.94
721.28
109.85
109.85
551.58-
108.83
965.69
109.85
709.78
703.18
946.02
1,113.38
1,120.96
1,080.46
968.99
.
1,057.94
1,002.88
56
Miles.
Miles.
5,404.20
1,725.20
1,708.78
1,758.90
1,650.53
1,594.85
1,512.96
1,474.05
1,390.25
1,354.63
1,229.65
1,193.38
1,202.60
1,203.48
1,173.44
5,447.96
5,845.78
5,879.20
5,942.60
6.101.82
6,248-69
6,457.64
6,687.98
6,876.34
6,999.94
7,051.63
7,177.57
7,464.45
66H lb. Rails are used—75-lb. Rails re-rolled.
Rails r»-roll«d.
72-Ib. Rails ar« used—804b.
727.51
933.82
855.84
542.08
929.35
961.45
958.83
25.29
26.35
24.75
24.75
24.75
25.29"
25.29
836.53
961.91
797.74
763.84
1,052.14
1,71573
987.46
972.32
986.01
950.54
516.02
831.58
697.57
850.17
Miles.
1,153.65
1,070.51
944.76
979.11
1,154.75
1,160.97
190|-*—.
38.9S
Total.
60
75
77X
RAILROAD COMPANY
EIGHTEENTH ANNUAL REPORT—FOR THE
York, October 14
New
The following report of the operations of your
for thO year ending June 30 1913 is respectfully
by the Board of Directors:
:;
^
in Table No. 18.
•
Company
submitted
COAL AND
operated
will note that the Company:
Tdble No. 1 shows in detail the mileage of road
you
of entire stock
of a majority of stock
1,673.40 Miles
Owns in fee or controls by ownership
Controls by ownership
Leases
rights over
160.31
——
"
15.12
"
2.35
37.87
.
,
435 tons, an
"
"
,.
VV<'•' *' J
2,443.94
"
or
^
.V';.'.
0
TRAFFIC.
GENERAL FREIGHT
The total
45.38%, have second track,
miles have third track and 18.42 miles have fourth
V"
:>-*1,109.12 miles,
+
10,142,467 tons, an increase
of 1,011,738 tons, or 11.08% more than the last year.
The bituminous tonnage was 7,650,400 tons, a decrease
of 50,863 tons, or 0.66% less than the last year.
The coke tonnage was 1,215,568 tons, an increase of
367,042 tons, or 43.26%.
The revenue from the haulage of coal and coke increased
$2,278,551 86, or 15.60%.
The coal and coke tonnage was 46.38% of the total ton¬
nage bauled.
.
'
•
:
-186.54
but not operated
Total...
—of which
18.47
"
131.20
J
Owns and leases to other companies,
"Leases and re-leases to other companies,
Controls lines operated independently
Grand
"
2,257.40
.Total mileage operated
Has restricted trackage rights over—
Total mileage controlled
"
146.73
—
"
276-96
;
-
-
Has trackage
"V;.'
for the year was 19,008,increase of 1,327,917 tons, or 7.51% more than
#
which
=''+
COKB.
The total coal and coke tonnage
the last year.
The anthracite tonnage was
MILEAGE.
June 30 1913, from
SO 1913.
commodities hauled & shown
A detailed statement of the
1913.;
the Erie Railroad Company:
To the Bond and Share Holders of
FISCAL YEAR ENDING JUNE
revenue
freight traffic of the Company during
the year, including merchandise, coal and coke, was 40,987,993 tons, an increase of 4,026,307 tons, or 10.89%.
The number of tons hauled one mile was 7,730,675,050,
increase of 907,114,732 ton miles,
total revenue derived from
of 13.2^%.
haulage of freight was
the abandonment of a portion of the Morris Run jBranch of
$44,345,739 10, as compared with $39,791,526 24 for the
the Tioga Railroad.
year 1912, an increase of $4,554,212 86, or 11.45%+
^ '
The average freight revenue per ton per mile was .574 cents,
,The increase of 135.1 miles in second track is due. to the
as compared
construction of additional track, as follows:
with .583 cents the last year^ a decrease of
Between Salamanca and Steamburg, 7.25 miles; Corry ,.009 cents, or. 1.54%.
*'
In addition to the above, 4,578,942 tons of Company's
and. Union City, 5.5 miles; Cambridge Springs and Meadfreight were hauled, making the total tonnage 45,566,935 tons.
ville, 7.25 miles, and between Marion and North Judson,
In hauling this tonnage 12,954,533 train miles were run, an
115.1 miles.
This is further dealt with under the head of
increase compared with the last year of 17,157 train miles,
4*General Remarks.''
or .13%.
1
OPERATING REVENUE AND EXPENSES.
The average distance each ton was hauled was 188.608
miles, an increase of 3.996 miles, or 2.16%,
The following statement shows the gross operating revenue,
The revenue per freight train mile was $3 42, as compared
operating expenses and operating income for the system for
with $3 08 the previous year, an increase of 34 cents, or
the fiscal year:
-■ V
t
'
11.3%.
The average train-load of revenue freight was
'
REVENUE.
■
Increase (+) or
596.75 tons, an increase of 69.32
tons, or 13.14%.
InDecrease (■-—).
1913
1912
eluding Company's freight, the average train-load was 647.14
,.$27,458,445 40 $25,182,784 40 +$-2,275,661 00
Merchandise
+2,278,551 86
16,887,293 70
14.608,741 84
Coal
tons, an increase of 66.5 tons, or 11.45%.
The average car¬
+592,140 18
9,623,115 41.
10,215,255 59
Passenger.
load of revenue freight was 21.44 tons, an increase of 1.27
—9,655 69
421,820 22
412,164 5
Mail
1,533,596 23
,[+203,086 79
tons, or 6,3%,
Including Company's freight, the average
Express,....
1,736,683 02
+27,133 78
937,109 42
Milk..
964,243 20
carload was 23.25 tons, an increase of 1.04 tons, or 4.68%
+389,798.49
1,401,301 11
track.
'
%
an
in track controlled is due to
The decrease of 27-100 miles
The
g
•
•:
.
_
...
.
!
—
■
1,791,099 60
Miscellaneous
more
Revenue—Rail Opera'ns $59,465,185 04 $53,708,468 63
Revenue—Outside Oper.
3,182,174 08
2,783,900 99
Operating Rev.$62,647,359 12 $56,492,369 62
+$6,154,989 50
than last year.
+$5,756,716 41
+398,273 09
Gross
PASSENGER
TRAFFIC.
The total number of passengers
carried during the
year
27,362,836, an increase of 1,157,570, or 4.42%.
The number of passengers carried one mile was 647,026,127,
an increase of 35,477,256 passenger miles, or 5.8%.
The increase in gross revenue therefrom was $592,140 18,
was
EXPENSES.
Increase (+) or
Decrease (—).
1913.
Maintenance of Way and
+$339,133 47
$5,929,926 01
9,612,450 08
1,393.543 98
19,561,599 38
"1,204,168 60
+ 1,357,074 39
+60,294 86
Operating Expenses—
Rail Operations
$40,705,175 78 $37,701,688 05
Outside Operations...
3,506,466 08
2,989,238 67
+$3,003,487 73
+517,227 41
$6,269,059
Maintenance of Equipment 10,799,069
1,453,909
Traffic Expenses.„v,
20:918,673
Transportation Expenses.
1,264,463
General Expenses
Structures
....
_
Total
Operating
penses
Taxes
48
79
28
77
46
+ 1,186,619 71
+60,365 30
taxes
Operating Income
$44,211,641 86 $40,690,926 72
1,935,118 11
1,817,326 07
+$3,520,715 14
+117,792 04
$46,146,759 97 $42,508,252 79
+$3,638,507 18
$16,500,599 15 $13,984,116 83
+$2,516,482 32
Oper¬
73.66%
75.25%
•1.59%
70.57%
ating Revenue
Ratio of Operating Expenses
to Gross Operating Rev¬
enue
72.03%
-1.46%
merchandise tonnage for the year was 21,979,558
tons, an increase of 2,698,390 tons, or 13.99%.
The increase in revenue from haulage of merchandise was
$2,275,661, or 9.04% more than the last year.
-
The average fare received from each passenger per mile
was 1.579 cents, an increase of .005 cents, or .32%.
The average distance traveled was 23.65 miles, an increase
of .31 miles, or 1.32%.
The average fare received
from each passenger was 37.33
increase of .61 cents.
The passenger train mileage was 10,230,932 train miles,
an increase of .63%.
an
The passenger train
increase of 5.57%.
revenue per
train hiile
was
$1,317,
an
The average number of passengers in each
increase of 3.09 passengers, or 5.14%.
The average number of passengers in
an increase of .31 passengers, of 1.88%.
Of the total number of passengers
MERCHANDISE.
The
6.15%.
or
train
was
63.24,
car was
16.77,
an
Ratio of Operating Expenses
and Taxes to Gross
,
cents,
Ex¬
Total Operating Expenses
and
•
each
carried, 26,620,533 were
through passengers, the local traffic
showing an increase in number of passengers carried and an
increase in the average revenue received per passenger per
mile.
The number of through passengers increased, while
the average revenue received per passenger per mile shows a
slight decrease,
*
'
local and 742,303 were
-
1128
THE
CHRONICLE
;•
MAIL.
Revenue from the transportation of United States Mails
ADDITIONS AND
'express.
*
Revenue from the transportation of Express amounted to
$1,736,683 02, an increase of $203,086 79, or 13.24%.
-r
nnn
Partial Payment
Partial Payment
$1,791,099 60,
The expense of Maintenance of Way and Structures
$6,269,059 48,
increase of $339,133 47,
an
5.72%.
or
was
The
details of this account in Table No. 10 show that the
prin¬
cipal items increased are Care of Roadbed, Changing Align¬
ment and Grades and Signals and
Interlocking Plants. :
61 bridges were reconstructed or are in the course of re¬
construction.
767,386 cross-ties and 2,921,916 feet of switch timber were
used in the track, with 824,947 tie plates.
222.02 miles of track were fully ballasted and 37.6 miles
of track were partially ballasted.
83
miles
right-of-way fences were built.
miles of passing and other sidings and 12.04 miles in¬
dustrial side tracks
constructed.
were
New passenger stations
;
.•
.
44.42
were
constructed at Arden House,
Monroe, Graham, Endicott, Painted Post, Silver Springs,
Perrysburg and Rittmam At North Tonawanda and Grif¬
fith the stations were enlarged and the station at Forest
EQUIPMENT.
Maintenance of Equipment expenses were $10,799,069
79,
an increase of $1,186,619
71, or 12.34% more than last
_
43,811 13
56,060 62
Cr. 3,171 15
.....$5,007,762 93
Right of Way and Station Grounds....
Bridges, Trestles and Culverts
Increased Weight of Rail
Cr
Ballast
Cr
...
7.918 92
139,173 63
370,290 53
.
_i.._
I.I.I.IIIIIIIIII
...
__________
13,690 45
180.692 14
...III
....
Fencing Right of Way
Elimination of Grade Crossings
Interlocking Apparatus.'
Block and Other Signal
Apparatus
Telegraph and Telephone Lines
Station Buildings and Fixtures
Roadway Machinery and Tools
Shops, Enginehouses and Turntables
Shop Machinery and Tools.
32,817 69
7,176 76
IIIIIIIIII
I.Ill
...
HI
__
146,118 67
2,100
20,911
53.058
40,188
46.778
179,961
2.983
170.406
25,331
31.025
8,932
•
250 Gondola Cars
50 Refrigerator Cars
J
;
Dynamometer Car
;
t
1 Track Construction Car.
71 Cinder Cars..'
6 Locomotive Cranes.
Miscellaneous Equipment
The
are
total
pounds,
an
of locomotives
increase of 3,833,419 pounds.
45,976,599
sold.
'•
■■■■'.
•
V ' '
,
Less credits account of
sold as follows:
Locomotives
a
a
decrease of 185 miles, .77%.
32,073 miles,
EXPENSES.
Details of this account
.
The number of tons of
10.89
%.
The number of
are
The number of tons of
revenue
increased
hauled
crease
:
GENERAL
General Expenses
$1,204,168 60 for last
were
Trusts
Leaving
balance of
a
Equipment Trusts
covering:
.■!;'= ' • ■
30 1912
prior
to
$12,440,269 20
2.284,269 20
.
—
V
•
freight hauled increased
carried increased 4.42%.
freight hauled one mile
distance each ton was
an
in¬
$1,264,463 46, compared with
increase of 5.01 per cent.
;
a
208,000 00
balance of—
__
Equipment Trusts outstanding.June 30 1913
6,053,070 39
Sidings and Spur Tracks
72,630 41
...
Interlocking Apparatus......
Block and Other Signal Apparatus
Station Buildings and Fixtures
Shops, Enginehouses and Turntables
Common
•
_
_
____
•
.
Authorized.
i
...
:
—
no
02
915 54
152,322 52
95.823 63
.$7,400,437 81
,
Issued.
—
$47,892,400
16.000,000
112,378,900
^.$217,4)00,000
$176,271,300
increase in the amount of Bonds
se¬
by the First Consolidated Mortgage Deed and the
■General'Mortgage, the total issue thereof being:
Prior Lien
Bonds
$35,000,000
49.724,000
.
...
32,000,000
Statements herewith show in detail the
funded
Company's entire
debt, rentals of leased lines and other fixed obliga¬
tions
of June 30 1913.
as
INCOME STATEMENT.
Gross Operating
Revenue
1..$62,047,359 12
j Operating Expenses and Taxes
46.146,759 97
Operating Income
Other
37
31
29
.
$48,000,000
16.000,000
153,000,000
cured
$16,500,599 15
Income
Gross
6,133,812
—
Income
Net
06
$22,634,411 21
Deductions from Gross Income
238,874 04
14,015 72
..........
Betterments.
81,237
10,028
74,151
16,116
_
Water and Fuel Stations.
Grain Elevators and Storage Warehouses
Dock and Wharf Property..
Total
Capital Stock and Bonded
Non-cumulative 4% First Preferred.
Non-cumulative 4% Second Preferred-
391,840 92
Elimination of Grade Crossings
$14,108,000 00
$2,492,269 20
CAPITAL STOCK AND FUNDED DEBT.
The Company's outstanding
Debt remain unchanged. -
$126,437 45
10,tl5 31
35,180 09
27,378 80
Tracks
.
3,952,000 00
...—.
Convertible Bonds
Capital Account Additions and Betterments for the
is charged with $7,400,437 81, as follows:
Other Additions and
$4,160,000 00
Total payments made during the year
The
Yards
'
Payments made to June 30 1913
General Lien Bonds
Terminal
...
*
There has' been
Right of Way and Station Grounds
Grade Reductions and Changes of Line..
Tunnel Improvements
_i
Bridges, Trestles and Culverts
_
2,000.000 00
—
Capital Stock—
EXPENSES.
00
'
Leaving
ADDITIONS AND BETTERMENTS—ROAD.
Main
year
_____
—
6 Passenger Locomotives
1,500 Box Cars..:
taxes.
Additional
~
.
$10,156,000 00
}$2,160,000
______
year, an
:
:
...
made during the
25 Passenger Coaches'
11 Passenger and Baggage Cars..
30 Freight Locomotives
The Taxes for the year were $: .,935,118
11, an increase
of $117,792 04, or 6.48 per cent.
year
this
year
were
"
on
0
Total
/
June
created
....—
13.29%.
The average
during the current year was 188.608 miles,
of 2.16% as compared with the
preceding year.
>
outstanding
Payments made during the
shown in Table No. 10.
revenue
balance
Equipment
300 Automobile Cars
4.33%.
EXPENSES.
passengers
$657,587 93
* EQUIPMENT TRUSTS.
50 Freight Locomotives
500 Coke Cars
Transportation Expenses were $20,918,673 77, an in¬
crease of $1,357,074 39, equal to
6.94%, which is largely due
to higher rates of wages paid
employees, additional employees
required by law and an increase in price of fuel for locomo¬
tives.
1,470,254 94
fiscal year was...
Traffic expenses increased $60,365 30, or
TRANSPORTATION
9,000 00
62,784 97
....
Total
The
cars was
•'/'
TRAFFIC
$156,824 49
1,201.675 34
39,970 14
...
.
One covered barge was built, six were
purchased and one
sold, and the floating equipment in New York Harbor and
on the Great Lakes was
fully maintained.
The changes in equipment during the year are shown in
•
.
_■
...
or
.
The average mileage made by motor
decrease of 1,648 miles, 4.89%.;
Table No. 14.
"
__»
Freight Cars
Passenger Cars
Floating Equipment....
Other Equipment.
The average age of locomotives is 12
years 11 months, or
1 year 5 months less than at the close of last
year.
The average mileage made by steam locomotives was
23,688.miles,
Equipment destroyed
•
was 1,461, an increase of 32.
88 new locomotives
received, 10 old locomotives were scrapped and 46 were
were
88
82
$2,127,842 87
is
The total number of locomotives at the close of the fiscal
year
61
89
5.085 94
v,
power
74
30
35.517 92
33,579 04
178,161 46
shown in Table No. 10.
tractive
00
00
62
86
11
5.106 58
year.
The details
9,621 12
32,659 47
91,745 79
216.497 09
_
Water and Fuel Stations
Grain Elevators and
Storage Warehouses
Dock and Wharf
Property
Other Additions and Betterments
30 Cabooses..
1 Official Car
46,601 80
90,137 41
.
I.I.I.I
..I.I 11
Fastenings and Appurtenances
Additional Main Tracks
'
Sidings and Spur Tracks..
Terminal Yards
,*___
$3,224 77
.
1
.....
Improved Frogs and Switches
1
OF
6,162 67
______
Tugs and 2 Steel Car Floats
follows:
Hill rebuilt.
MAINTENANCE
75,954 61
140,034 32
13,356 32
_
;
100-pound, 22,192 tons of new 90-pound
and 568 tons of new 80-pound steel rails were
laid, with the
necessary frogs, switches, &c.
new
■______
ADDITIONS AND BETTERMENTS—INCOME.
During the year $657,587 93 has been appropriated from
Income for additions and betterments
to the property, as
Track
3,346 tons of
30,693 97
_____________
10 Locomotives
on
Total
structures.
____
on
Miscellaneous
OPERATING EXPENSES.
of way and
A
75
22
82
33
85
25,887 25
_
500 Box Cars
Partial Payment on 50
Refrigerator Cars
Partial Payment on 5 Cabooses
Partial Payment on 2 Electric
Cars
Partial Payment on 2 Steel
an
maintenance
_
Passenger Cars....
3 Locomotive Cranes
6 Harbor Barges
$964,243 20,
miscellaneous.
was
1,082,436
337,914
493,814
1,285
415.289
-
41
Revenue from Miscellaneous sources
increase of $389,798 49, or 27.82%.
BETTERMENTS—EQUIPMENT.
300 Automobile Cars
500 Coke Cars
1 Refrigerator Car
MILK.
was
xcvii.
Capital Account has (been charged during the
year with
$5,007,762 93 for additional equipment as follows:
Locomotives
.$2,288,232 22
decreased $9,655 69, or 2.29%.
Revenue from the transportation of Milk
an increase of
$27,133 78, or 2.9%.
[Vol.
Income
14,528,735 98
$8,105,675 23
,—
Appropriated to Sinking Funds
;
—$765,518 99
Appropriated for Additions and Betterments.__ 657,587 93
;
.
,
Surplus.
'
1,423,106 92
..
$6,682,568 31
1129
FINANCIAL.
From
The financial condition at the close of the fiscal year
has
is
Equipment
shown by the General Balance Sheet, Table No. 4.
Statements of charges to ' 'Additions and Betterments"
shown herein
$500,000
500,000
4,343,850
2,973,199
explain the increase in the account "Investment
Since June 30 1907."
The
depreciation
on
December
'received
7,023,995
existing equipment accruing during
the year was SI,166,161 46, as shown by the increase in
the account "Reserve for Accrued Depreciation—Cr."
In reimbursement for amounts advanced for construction
19,215,000
6,010,600
230,227
in previous years there were received additional
shares of capital stock of the Genesee River Railroad Com¬
pany, Columbus & Erie Railroad Company and Eriton Rail¬
road Company; also, First Mortgage Bonds of the Genesee
River Railroad Company and Erie & Jersey Railroad Com¬
pany.
The acquisition of these securities with an increase
in the holdings of Chicago & Western Indiana Railroad Com¬
pany bonds and other miscellaneous
securities explains
the increase in the account "Securities of Proprietary, Af¬
filiated and Controlled Companies—Unpledged."
"Advances to Proprietary, Affiliated and Controlled Com¬
panies for Construction, Equipment and Betterments"
increased $191,474 89, principally representing amounts ad¬
vanced to the Long Dock Company and Penhorn Creek Rail¬
road Company, less credit allowed the Columbus & Erie
Railroad Company and Eriton Railroad Company for capi¬
tal stock received from them during the year, as previously
explained.
The account "Miscellaneous Investments," "Securities—
Unpledged," increased $16,796 09, due to the receipt of
notes of the Mutual Terminal Company of Buffalo and other
miscellaneous securities, less miscellaneous securities dis¬
posed of during the year.
purposes
2,500
1
cash
1895 to Juno 30 1913 the Company
all sources for Construction and
from
follows:
purposes as
00 Sale of Erie & Wyoming Valley Railroad Co. Capital Stock.
00 Settlement of old account with the National Transit Co.
13 From the Erie Reorganization Committee.
15 Proceeds of sale of securities received from the Erie Reor¬
ganization Committee.
38 Proceeds of sale of securities received from the Farmers'
Loan & Trust Co., Trustee.
00 Proceeds of saie of securities received from the Standard
Trust Company of New York, Trustee.
*
00 Partial proceeds of sale of Collateral Gold Notes.
■:
05 Proceeds of sale of securities received for the purchase of
Erie & Wyoming Valley Railroad Equipment.
00 Sale of Pittsburgh Chartiers & Youghiogheny Railroad Co.
Bonds acquired from the Receivers of the New York
Lake Erie &
Western Railroad Co.
457,867 50 Sale June 1 1899 of Capital Stock of the Northern Railroad
Company of New Jersey, originally paid for by the Erie
? Reorganization Committee from Construction Funds.
740,000 00 'Sale of Union Dry Dock property and franchises.
107,989 22 Special Tax deposit made by Erie Reorganization Com¬
mittee, returned June 14 1901 by the English Govern—:
:—
ment.
$42,105,228 43
This amount has been used to
pany
partially reimburse the Com¬
for the following expenditures:
.
$457,867 50 Purchase of Northern Railroad Company of New Jersey
Capital Stock.
1,729,611 68 Old New York Lake Erie & Western Car Trusts.
65,000 00 Payment of Mortgages on Real Estate.
348,377 50 Disbursed on account of Union Steamboat Company in
liquidation of its affairs and in building or acquiring
additional property.
111,241 84 Liquidating Receivership New York Lake Erie & Western
Railroad Company.
:
!
1
24,916,301 94 New Construction.
'
v'
39,667,524 30 New Equipment.
,
t
"
$67,295,924 76
Your
Company has expended from current cash for con¬
struction and equipment purposes, from December 1 1895
to June 30 1913, $25,190,696 33, for which it is or will be
The increase in "Loans and Bills Receivable," $55,021 60,
on account of various promissory notes representing ad¬
entitled to be reimbursed from the sale of either Erie Railroad
made to contractors engaged in construction work.
The amount invested in "Materials and Supplies" shows
Convertible Bonds.
is
Company General Lien Bonds
vances
increase of
an
The amount
$1,78$,532 56.
ies," is principally due to credit allowed the Erie & Jersey
Railroad Company and Genesee River Railroad Company
for securities received from them during the year, as pre¬
viously explained, less miscellaneous additional amounts ad¬
additional
an
increased $29,073 74, principally due
made to the Erie Despatch Fast
increase of $689,739 67 in the account "Cash
in Sinking and Redemption Funds," repre¬
vania Collateral Bonds.
The amount the Company has not been reimbursed from
the sale of bonds for expenditures made under the terms of
the First Consolidated .Mortgage Deed, the General Mort¬
senting increased balances in the Chicago & Western In¬
diana Railroad, Akron & Barberton Belt Railroad and the
Pennsylvania Collateral Sinking Funds.
The increase in "Equipment Trust Obligations" has been
heretofore explained.
The decrease of $23,762 08 in "Miscellaneous Funded
Obligations" is due to the payment of real estate mortgages,
reduction in amount due the. City of Buffalo for grade cross¬
ing copstruction, less real estate mortgages assumed and ad¬
ditional obligations issued for construction work at the ore
and the Pennsylvania Collateral
$25,493,078 55.
gage
.
-
decrease
in
account
"Miscellaneous
On
Accounts
Payable" is on account of settlement of current accounts
during the year with subsidiary companies.
The increase of $752,968 99 in the account "Reserves from
Income or Surplus," "Invested in Sinking and Redemption
Funds" represents 10 cents per ton on coal mined from the
mines of the Pennsylvania Coal Company during the fiscal
year, together with interest on the Erie Railroad Company
Pennsylvania Collateral Bonds purchased by the. Trustee
made
and held in the Trust Account.
,
AH of the securities for construction purposes turned over
by the Erie Reorganization Committee have been converted
into cash, as follows:
Value
on
as
CaSh Realized
Placed
the Books
"
from Sale.
'
January 1897.
"
•
$115:200 00 Buffalo & Southwestern RR. 2d Lien Bonds—
405,000 00 Erie Rajlraod Co. Prior Lien Bonds
364,055 22 N. Y. & Greenwood Lake Ry. Prior Lien Bonds
1,034,400 00 Erie Railroad Co. General Lien Bonds
630,000 00 Delaware & Hudson Exclusive Car Trust Ctfs_
202,000 00 Car Trust of New York Certificates
$2,750,655 22
$126,720
411,000
385,570
1,214,908
630,000
202,000
00
00
22
93
00
00
''
• *
•
•
$2,973,199 15
In 4addition to these securities there have been certified
by the Trustee of the Erie Railroad Company First Consoi.
Mort. Deed and turned over to your Company in reimburse¬
ment for expenditures already made, $5,000,000 Erie Rail¬
road Company Prior Lien Bonds and $13,000,000 Erie Rail¬
road Company General Lien Bonds; and by the Trustee of
the Erie Railroad Company General Mortgage $32,000,000
Erie Railroad Company Convertible Bonds.
Of these securities the following have been converted into
t
cash:
Cash Realized
Par Value.
$5,000,000 00
3,000,000 00
21,015,000 00
from Sale.
Erie Railroad Company Prior Lien Bonds. $4,539,884 27
Erie Railroad Company General Lien Bonds 2,484,111 11
Erie Railroad Company Convertible Bonds 19.215,000 00
$29,015,000 00
•
$26,238,995 38
leaving still owned by the Company:
Erie Railroad Company General Lien Bonds
Brie Railroad Company Convertible Bonds
...$10,000,000 00
10,985,000 00
Trust
is
Indenture,
.
■
.
Additions and Betterments to the property and equipment
of the Company, aggregating $13,065,788 67, have been
made during the year, as per tables shown.
New
the
,
GENERAL REMARKS.
;
docks in Cleveland.'
The
Indenture,
Pennsylvania Collateral Trust Bonds are owned
by the Company.
The Company has expended from its
current cash for construction purposes, to June 30 1913,
$302,382 22, for which it is or will be entitled to be reim¬
bursed from the sale of Erie Railroad Company Pennsyl¬
Freight Line.
There is
as
sale of securities obtained from the Trustee of the
advances
and Securities
*
shown
and $336,000
vanced for construction purposes.
"Working Funds"
Erie Railroad Company
expended for "New Equipment"
includes payments aggregating $1.3,797,107 58 for cars andlocomotives, which are covered by equipment trusts.
Construction expenditures on properties covered by Penn¬
sylvania Collateral Trust Indenture to June 30 1913 amount
to $1,741,843 36;
$1,439,461 14 has been realized from the
The decrease of $974,808 70 in the account "Temporary
Advances to Proprietary, Affiliated and Controlled Compan¬
to
or
"
July 1 1913 the $4,000,000 six
York
Lake
Erie
Western
per
cent bonds of the
& Improvement
Company, the payment of the principal and interest of which
is guaranteed by this Company under its lease of the Docks
& Improvement Company property, became due and were
extended until July 1 1943, the rate of interest being reduced
to five per cent per annum.
$604,000 of these Bonds are
owned by this Company and pledged under its First Consoli¬
dated Mortgage Deed.
.
During the year work on the second track and grade reduc¬
tion on the MeadviHe Cincinnati and Chicago & Erie Divi¬
sions, referred to in the previous report, has satisfactorily
progressed.
At the end of the calendar year there will
remain of the single-track main line only those sections
between Alleghany ahd Carroll ton, N. Y. (5 miles), between
Steamburg and Waterboro, N. Y. (9 miles), and between
Lomax and Griffith, Ind. (35 miles), and upon their com¬
pletion your Company will have a double-track line between
New York and Chicago.
v
'
Grade crossings have been eliminated at Elmwood Avenue,
Buffalo, N. Y., Forest City, Pa,.; and Howells, N. Y.
The
elimination of grade crossings in the past ten years has caHed
for an expenditure of one and a quarter million doUars.
Two wooden car-floats, four harbor freight barges, ten
covered barges, five open lighters, one steam lighter and one
steel tug have been purchased for use in and about New York
&
Docks
Harbor.
During the year there were added to the equipment of the
Company 75 Mikado type engines, 13 Pacific type engines,
25 suburban coaches, 11 combined cars, 300 automobile cars,
500 40-ton coke cars and 1,435 40-ton box cars, all steel
undernamed.
Arrangements have been perfected for the
purchase and delivery during the ensuing year of 3,000 steel
frame box cars, 1,500 self-clear|ing hopper cars, 500 drop-end
gondola cars, 40 Mikado type engines and 10 Pacific type
engines.
Under recent State laws your Company has been compelled
to place extra men on many of its passenger and freight,
trains, involving an annual increased expenditure of over
$376,000, notwithstanding it is the contention of your Board
that no equivalent in safety, service or efficiency is added.
CHRONICLE
THE
1130
tion,
THe grain elevator at Buffalo, built in 1879, was destroyed
by fire.
It is proposed to replace it when conditions warrant.
The elevator at 51st Street Yard, Chicago, has been sup¬
plemented with reinforced concrete grain storage bins with
a capacity of 350,000
bushels;^u;
The canal on the Hackensack Meadows, referred to in the
roadway, structures and equipment suffered from
Dayton, Ohio, and vicinity, to restore which entails
expenditure of approximately $500,000.
i
,
As indicating the increased freight-moving efficiency of your
Company, the following comparative figures are submitted:
For the fiscal year ended June 30 1902 the average freight
an
^
train-load
..
train-load
Directors
road company.
The demands of certain classes of employees
for increased
compensation are now in process of settlement by a com¬
mission appointed jointly by the employees, the companies
"
:
,
to
P.
Davison were elected
fill existing vacancies.
v ,
J. Harahan, Vice-President
•
entailed on your Company by
for increased compensa¬
.
,
of the demands of employees
fABLE 4.—CONDENSED GENERAL BALANCE SHEET (ENTIRE SYSTEM), COMPARATIVE—JUNE 30 1913
AND JUNE 30
June 30
ASSETS.
June 30 1912.
:
William
.
physical valuation
^
647.14 tons.
was
1912 the average freight
;V.
1913 the average freight
V
in charge of
Engineering, resigned September 26 1912 to accept the Presi¬
dency of another railroad company.
The system of accounts used by your Company being that
prescribed by the Inter-State Commerce Commission and
subject in all details to its supervision and examination, the
certification of the accounts and books of the Company by
certified public accountants has been discontinued.
$27,991,186 10, equivalent to 63.31 per cent, of the Total
Operating Expenses, was paid by the Company direct to
labor, being distributed among 41,208 employees.
The efficient services of the officers and employees are
hereby acknowledged.
.
By ordor of the Board,
Respectfully submitted,
F. D. UNDERWOOD, President.
Mr.
required by the so-called Fed¬
The extraordinary expenses
■'•*,:
Messrs. E.. J. Berwind and H.
The statutes of New Jersey require all highway gradecrossing elimination to be made' at the expense of the rail¬
reason
399.76 tons.
was
For the fiscal year ended June 30
train-load was 580.64 tons. '
; ...J
For the fiscal year ended June 30
'
and the Federal Government.
elimination, full-crew legislation and
to justify an advance in rates.
seem
flood at
.
steps are being taken to make a
xcvii
Your
previous report as being constructed to eliminate a draw¬
bridge. over Berry Creek, has been completed.
• ; ■:
At Dock 1, Jersey City, N, J.,- sufficient channel has been
dredged to permit the loading with grain of trans-Atlantic
ships.
\
v
.. ;.vVl •
Land in the vicinity of GriffithV Indiana, has been pur¬
chased at an approximate cosi of $500,000, for the purpose
of developing a terminal for Chicago traffic.
:
Arrangements have been perfected whereunder freight is
received and delivered by carfloat at several stations on
the Chicago River.
It is expected this^ method will afford
an increase in freight revenues from Chicago.
' .
A commission has been .created from the staff and the
of the Company's property as
eral valuation statute. •
grade-crossing
Federal valuation
,
necessary
[Vol.
1912
1913.
PROPERTY-INVESTMENT—
'*
Road and
Equipment:
$271,099,017 24
Investment to June 30 1907
$271,099,017 24
Investment Since June 30 1907:
Road
10,144,118 25
10,727,385 35
•
Equipment __,
Reserve for Accrued
5,661,975 45
19,179,251 32
14,758,040 05
—
_
Securities:
Depreciation—Cr
v
Securities of Proprietary, Affiliated and
Stocks
30,683.650 00
46.799,200 00
■_—
-
$30,683,650 00
46,799,200 00
,
Issued
or
Assumed—Pledged—
25,160,000 00
Funded Debt
Stocks
322,138 44
184,472 73
600,000 00
Controlled Companies—Unpledged—
_
__
_____'_
_
_
Miscellaneous
________
3,002,010 17
.
:
Affiliated
*
.
6,572,771 88
Construction,
for
4,997.654 45
„
«.
Physical Property
Securities—Pledged
Securities—Unpledged
27^520,481 66
Companies
Investments:
Miscellaneous
•
Controlled
and
to Proprietary,
Equipment and Betterments
Advances
4,806,179 56
——
——
_
$773,538 44
1,628,471 73
600,000 00
-—
—
Fimded Debt
Other Investments:
•.
;—
-
__i____
:
—
•—
$8,285 93
27,520,481 00
6,589,567 97
34,118.334 90
■]'
*
ASSETS—'
WORKING
Cash
16,536,770 30
'
•
______:
:
Securities of Proprietary, Affiliated and
„
$298,208,172 60
77,482,850 00
v 25,160,000 00
•
Controlled Companies—Pledged—
_
Funded Debt.__
Securities
i
$305,036,309 51
6,828,136 91
_.
•
17,98218
3 00
1,088,342
1,218,956
2,068,394
4,192,762
80
59
47
37
Miscellaneous
_'
Loans and Bills Receivable.
.
-
57,265 39
,379,940 00
4,841,371 14
300 00
87,386 93
:
_
Traffic and Car-Service Balances Due from Other Companies
INCOME
Unmatured
NOT
Conductors._!___
*
l
— —
21,712,805 84
DUE—
DEBIT
7,882 00
ITEMS—
•
Temporary Advances to Proprietary, Affiliated and Controlled
Working Funds.
j.
Rents and Insurance Paid in Advance
Companies.
$5,408,875 2t
140,690 16
5,549,565
28,307
604,024
5,531,110
r
Special Deposits
Cash
18
60
08
93
44
5,981,294 93
17,982
55,024
1,607,339
1,629,686
2,680,271
Interest, Dividends and Rents Receivable
Advances*.
111,616 42
!__:_j-________________
Net Balance Due from Agents and
.Miscellaneous Accounts Receivable
Materials and Supplies.
DEFERRED
6,383,683 91
$9,741,206 68
-
Marketable Securities:
ACCRUED
1,507,382 00
■
'
■
i
Securities in Sinking and Redemption Funds
'___■
Cash and Securities in Insurance and Other Reserve FundS.
and
Other Deferred
Debit Items
37
16
59
81
300 00
163:998 94
—
$476,567,016 83
$467,449,596 50
LIABILITIES.
STOCK—
Capital Stock:
$112,378,900 00
47,892,400 00
16,000,000 00
$112,378,900 00
47,892,400 00
16,000,000 00
Common
1st
Preferred
Non-cumulative
2d Preferred Non-cumulative
$176,271,300 00
MORTGAGE, BONDED AND SECURED DEBT—
Funded
164,110,900
64,749,500
12,440,269
1,182,293
00
00
20
60
Debt:
Mortgage
Trust
1,699,629 84
Bonds
Equipment Trust Obligations
Miscellaneous Funded Obligations
244,126,931 52
LIABILITIES—
Loans and
2,570,814 11
1,998,404 93
471,225 00
$164,110,900 00
64,749,500 00
14,108,000 00
1,158,531 52
Bonds._i__
Collateral
WORKING
4,931,467 90
"
Bills
Payable
Traffic and Car-Service Balances Due to Other
Audited Vouchers and Wages Unpaid
Companies.
___.
Miscellaneous Accounts
Payable
Matured Interest, Dividends, and Rents Unpaid
Matured Mortgage, Bonded and Secured Debt Unpaid
$22,466
2,340,711
6,749,302
26,442
1,999,064
471,225
42
52
40
44
55
00
11,609,212 33
ACCRUED
2,434,022 23
9,230 42
133,549 18
LIABILITIES NOT DUE—
Unmatured Interest, Dividends and Rents Payable
DEFERRED CREDIT ITEMS—
on
Outstanding Funded Debt_.
Other Deferred Credit Items
APPROPRIATED
3,617,006 63
2,475,170 36
*
Unextinguished Premiums
Additions
to
$4,022 18
184,116 43
188,138 61
SURPLUS—
Property Since June 30 1907, through Income.
Income or Surplus:
Sinking and Redemption Funds
$4,274,594 56
Reserves from
4,979,501 4p
Invested in
PROFIT AND
25.850,482 06
.$467,449,596 50
Balance
5.732,470 39
10,007,064 95
LOSS—
_"
-
31,889,199 06
$476,567,016 83
Oct. 18
i T
•
*
*
TABLE 2.—INCOME
»
.
O
Rai
Structures.
—
__
--------- — -
Milk—.
Expenses
-11-1
.
-------
Outside
$44,211,641 86
.
Operations:
$2,171,862 65
378,531. 59
631,779 84
Routes
Water
1,935,118 11
,
and Shipping Plants.
Coal Storage
Miscellaneous
$46,146,759 97
and Taxes...
Total Operating Expenses
3.18S,174
'
'
.$2,252,223 04
(see Table No. 7).
Equipment (Balance)
745,988 23
733,988 10
.
_____
Joint Facility Rent
.
Rent
Interest on Funded Debt:
Bonds (see Table No. 5)
Collateral Gold Notes—
Miscellaneous
.
•
.
.
—■-
.
.
...
Trusts
7,757,896 00
1,477,500 00
24,000 00
■
,
...
.
17,109 68
56,997 15
Net Income.
Properties—Profit
Dividend
—————
——
Appropriated tc Sinking and Other Reserve
Funds
-
143,319 41
——-2.
Miscellaneous
_
2,611,880
529,899
2,006,119
5,208
41
—
50
98
45
24
70
$8,105,675 23
6,138,812 06
Total Other Income.
$765,518 99
1,423,106 92
657,587 93
Appropriated for Additions and Betterments._
—
Income
Funded Securities.__ —
Interest on Unfunded Securities and Acc'ts—
Release of Premiums on Funded Debt.
$68,781,171 18
Net Income for Year.
—
Interest on
14,528,735 98
8,105,675 23
„
$15,000 00
707,282 22
1.15,060 56
;;
Separately Operated
—
Debt
_
Road
Rent
Miscellaneous Rent
Joint Facility
643,096 57
": 38,879 88
...
Income—
Other
From Lease of
y
.
Credit of
Balance for Year Transferred to
Profit and Loss
TABLE
$68,781,171 18
$6,682,568 31
—
3.—PROFIT AND LOSS STATEMENT, YEAR
ENDING JUNE 30 1913.
Crodits *
V
Debits:
$62,§47,359*12
—
.
Mortgages
Construction Obligations.;—
Interest on Unfunded
Revenue
Gross Operating
781,057 33
.
Serial 5% Gold Notes—
on
964,243 2(X
1,791,099 60
—
3,506,466 08
-1—
extinguished through Surplus
1,070,521 59
$6,682,568
Income Acc't
Delayed Income Credits
Miscellaneous Credits
29,646 31
$25,858,482 06
:
Balance transferred from
99,928 10
Delayed Income Debits
Miscellaneous Debits
n
•
Balance June 30 1912
$104,719 28
Retired Road and Equipment...--.
Debt Discount
1,736,683 02,
.
-$59,46$,185 04
201,029 77
650,958 66
.
.
Lease of Other Roads
Loss
412,164 53
>
.
—
.$2,654,477 65
---w;—
Total Operating
Equipment
.
—
-
Express
-$40,705,175 78
.
Ta*e?~
Hire of
.
Passenger.
Miscellaneous
Miscellaneous
Deductions—
.$27,458,445 40
16,887,293 70
10,215,255 59
—
Mail
.
- -
Shipping Plants.
Coal Storage and
Coal
.
_ .
Transportation Expenses
General Expenses. -—— —
Outside operations:
Water Routes.
YEAR ENDING JUNE 30 1913.
Merchandise
.$6,269,059 48
.10,799,069 79
1,453,909 28
.20,918,673 77
1,264,463 46
Equipment.--
Traffic Expenses_.
♦
STATEMENT (ENTIRE SYSTEM) EOR THE
Operating Expensesail Operations:
Rail r
Maintenance of Way and
Maintenance of
1131
CHRONICLE
THE
1913.]
429,886
231,077
—
31
31
66
$1,304,815 28
-
7.343.532 28
carried to Gen¬
Balance Credit June 30 1913,
eral Balance Sheet
—
-
-
31,889,199 06
$33,194,014 34
$33,194,014 34
TRAFFIC, REVENUE AND EXPENSES
TABLE 16.—ANALYSIS OF
(ENTIRE SYSTEM) FOR THE SIX YEARS ENDING JUNE 80 1908,
'
1909, 1910. 1911, 1912 AND 1913.
Mileage of road operated.
_
1913.
1912:
2,257.402
2,257:666
2,264.961
2,227.032
2,230.814
2,171.160
1911.
1910.
•
1909.
1908.
;
Freight Traffic—
Number of tons of merchan¬
and
19,281,168
17,680,518
19,008.435
36,961,686
40,987,993
6,823,560,318
7,730,675,050
'
16,843,417
19,128,796
19,478.408
33,629,706
32,797,205
38,763,600
37,570,662
mile- 5,661,538,181
Average distance hauled per
6.008,714,174
6,414,731,680
6,825,581,956
17,371,279
"
Total number of tons of
all
freight carried.
Total number of tons of
freight carried
all
one
■
ton
—
Average revenue per ton per
Cents
mile.
i.-l.j.-.Freight revenue per mile of
.600
______
road
a-
$15,635.12
Frei^ht revenue per train
Average number of tons
464.90
469.05
494.87
20.30
'20.51
20.37
"
«
571.18
647.14
580.64
~
25,454,161
626,835,771
27,362,836
26,205,266
597,317,739
639,524,474
611,548,871
24.836
25.220
27.036
•
$9,489,448.73
$8,880,634.32
Cents
1.487
$11,565,227.52
$9,459,963.21
Cents
1.507
90 007
24.626
„
1.566
•
$12,786,155.90
$5,553,73
23.646
$9,623,115;41
$9,817,956.18
Cents
$12,368,328.25
Cents
$10,215,255.59
1.574
$12,681,863.00
$5,645.20
$5,184.31
,
1.579
Cents
$13,473,637.46
$5,968.65
$5,617.24
$1.31695
$1.22976
$1.17402
$1.25746
$1.28576
$1.24742
65.24
60.64
63.83
63.03
60.15
63.24
17.45
16.50
17.13
16.93
16.46
16.77
$43,435,789.40
$44,070,423.14
$17,870,093.46
$49,754,505.14
$49,414,641.65
$54,560,994.69
$20,005.80
$19,755.31
$21,495.02
$21,967.05
$21,887.49
$24,169.82
$46,746,435.90
$21,530.63
$47,514,858.74
$21,299.34
$51,830,719.93
$23,273.45
$53,820,050.22
$23,762.02
$53,708,468.63
$23,789.38
$59,465,185.04
sources
Rail
Operations
mile of road.
train mile
Oper. expenses—Rail oper.
Gross rev. per
Oper. exp. per mile of road.
train mile.
$36,469,542.21
$16,797.26
$1.6637
$10,276,893.69
$4,733.37
Cents
46.882
$32,694,025.26
$14,655.65
,
$1.44684
$14,820,833.48
$6,643.69
Cents
65.588-
.
$34,454,769.34
$15,471.16
$1.51592
$17,375,950.59
$7,802.29
Cents
76.450
$35,849,891.37
$15,828.04
$37,701,688.05
$16,699.41
Cents
78.267
$2.57514
$40,705,175.78
$18,031.87
$1.76274
$1.63802
$1.5614
$17,970,158.85
$7,933.98
$26,342.31
$2.33347
$2.34407
$2.28042
$2.10273
$2.13252
Gross revenue per
Oper. exp. per train mile..
Net oper. rev.—Rail oper..
Net revenue per mile of road
"
647,026,127
"
mile of road
Net revenue per
21.44
25,277,283
$5,551.88
Revenue and Expenses—
Freight & passenger revenue
Freight & passenger revenue
all
20.17
"
Average number of passen
gers in each train
Average number of passen¬
gers in each car
revenue
20.44
,
627,788,837
mile
per
596.75
23,684,283
23,654,436
train
Gross
527.43
*
' 1.484
Av. fare per pass, per mile. Cents
$12,054,020.13
Total pass, train revenue._
Pass, train revenue per
mile
.
540.70
516.86,
501.13
Passenger Traffic—
Pass, train revenue per
of road
$3.42318
$3.0757
521.17
•
'
No.
one mile
Av. distance per passenger.
Total passenger revenue. __
$19,644.59
$17,625.07
$3.0494
$2.96316
$2.74697
.574
Cents
.583
Cents
$17,632.34
,
'
terial
No. of passengers carried.
of passengers
carried
$17,247.23
$44,345,739.10/
$39,791,526.24
.585
Cents
.599
Cents
$15,774.42
...
$2.78751
of
freight in each train
Average number of tons of
freight in each loaded car
Average number of tons of
freight in each train, in
eluding Company's ma¬
.586
Cents
188.608
184.612
$39,936,548.96
$38,410,130.25
$35,189,788.82
'
181.673
165.483
183.208
168,349
$33,946,340.67
Total freight revenue
,
21,979,558
18,092,254
19,634,804
15,953,788
16.258,427
dise freight carried
Number of tons of coal
coke carried
$16,006,780.58
$7,089,97
Cents
69.545
$18,760,009.26
$8,310.44
Cents
^
81.240
1133
THE
CHRONICLE
REPORT—FOR
ANNUAL
Washington, D. C., October 3 1913.
of the Southern Railway Company:
The Board of Directors submits the
following report of
"the affairs of the
Company for the year ended June 30 1913:
To the Stockholders
1913.
of
Road
•Gross Operating
Total Operating
1912.
or
.
Decrease (—)
Operated,
On June 4 1913 there
—52.42
Revenues.$68,529,490 20 $63,590,328 90
Expenses. 48,273,923 55
43,696,236 39
+$4,939,161 30
+4,577,687 16
sold
were
$1,500,000 Southern Rail¬
Company First Consolidated Mortgage Five Per Cent
Bonds, theretofore free in the Treasury, to reimburse the
Treasury, in part, for'expenditures incident to additions
fund
&
'
' 7,088.03
7,035.61
:
YEAR ENDED JUNE 30 1913.
way
There
Increase (+)
Average
THE
and betterments.
INCOME STATEMENT.
Miles
xcvii.
RAILWAY COMPANY
SOUTHERN
NINETEENTH
[Vol.
Y
1
retired during the year, through the
sinking
provisions of-the mortgages, $30,600. Charlottesville
were
Rapidan Railroad Company First Mortgage Six Per Cent
Bonds and $6,000 Franklin &
Pittsylvania Railroad Company
First Mortgage Six Per Cent Bonds.
$37,000 First Consoli- i
dated Mortgage Five Per Cent Bonds were drawn
on
Net Operating
Revenue_$20,255,566 65 $19,894,092 51
Auxiliary Operations—Net
Revenue.
80,535 87
64,754 67
Net Revenue
Taxes
w
+361,474 14
.
$20,336,102 52 $19,958,847 18
2,480,387 28
2,452,328 28
+15,781 20
+$377,255 34
+28,059 00
Operating Income......$17,855,715 24 $17,506,518 90
account
thereof and placed in the
Treasury.
By reason of these and previous drawings for similar pur¬
poses, and the sale of $1,500,000 Southern
Railway Company
Five Per Cent Bonds, there
Treasury on June 30 1913 $1,114,800
First^ Consolidated Mortgage
remained free in the
of these bonds.
3,580,441 70
+$349,196 34
—214,471 20
Total Gross Income
$21,221,685 74 $21,086,960 60
Deductions from Income..
3,104,086 17
3,180,139 70
+$134,725 14
—76,053 53
During the month of June 1913 there were drawn and taken,
the Treasury
$5,000,000 Development and General
Mortgage Four Per Cent Bonds, which, under the terms of
+$210,778 67.
that
'Other
Income
3,365,970 50
.......
Total Available
•Interest
on
Income.$18,117,599 57 $17,906,820 90
Mortgage, Bonded
and Secured Debt
Balance of Income
•
11,038,974 40
on
—104,729 44
over
Charges 1
'Dividends
11,143,703 84
$7,078,625 17
$6,763,117 06
+$315,508 11
Preferred Stock—•
No.
23, Two Per Cent,paid in Apr'12: No. 25,
„
.
^
.
Two and One-Half Per
Cent,
1913
No. 24,
paid
in. April
$1,500,000 00
;.
$1,200,000 00
+$300,000 00
Two and OneHalf Per Cent, paid in
October 1912; Reserve
for Dividend No. 26,
Two and One-Half Per
Cent, payable in Octo¬
ber 1913
Total
Dividends.
.
:
.
'
„
.
,
„
.
.
5
mortgage, could be drawn
1913 to reimburse the
during the calendar
year
Company for expenditures made for
additions and betterments.
drawn and taken into the
In like
manner
there
were
also
Treasury during the year $1,130,000 of these Bonds to reimburse the
Company for proportion
of Equipment Trust
Obligations paid during the year and
charged to capital account.
As the result of these
drawings, the total amount of Devel¬
opment and General Mortgage Four Per Cent Bonds free
in the Treasury on June 30 1913 was
$25,992,0001
The Company has continued the conservation of its Work¬
ing Assets through the employment of its Treasury funds.
ADDITIONS AND BETTERMENTS.
1,500,000 00
1,500,000 00
$3,000,000 00
$2,700,000 00
+$300,000 00
$4,078,625 47
$4,063,117 06
48,660 48
44,989 42
+$15,508 11
+3,671 06
.....
...
i
Preferred Stock.
into
Construction of the double-track line north of
Atlanta,
between Cross Keys and Gainesville, Ga.
(exclusive of a
single-track gauntlet between Suwanee and Duluth) referred
to in last
yeat's report, was' completed and put in operation
during the
year.
j
of Profit and Loss
$4,029,964 69
$4,018,127 64
+$11,837 05
Additional
double-tracking, was begun during the year be¬
following points:
Amherst and Monroe, Vat.,
Gainesville, Ga., Cross Keys and Armour,
Ga., and between 27th Street, Birmingham, and east end of
yard at North Birmingham, Ala.
k
«
With the completion of the double-track between Amherst
and Monroe, and that between New Holland and
Gainesville,
both of which pieces are expected to be
completed by the
latter part of 1913, and that between Cross
Keys and Armour,
which is expected to be finished early in 1914, the
Company
will have in operation on its main line between
Washington
and Atlanta 301.07 miles of double-track, or
approximately
46 per cent of the total
mileage between those terminals.
The track between 27th Street, Birmingham, and the east
end of yard at North Birmingham is expected to be in service
about January 1 1914.
.•
'
tween
New Holland and
PROFIT AND LOSS.
; :
+
The surplus shown by the Profit and Loss statement
June 30 1912 was $13,756,936 13.
After
as
of
maldng provision
through Income for the full Dividend on the Preferred
Stock, amounting to $3,000,000, and charging to Profit and
Loss $98,332 96 Discount on
Securities, thus extinguishing
the entire amount of such discount, and
$314,009 66, repre¬
senting net miscellaneous accounts written down, the sur¬
plus as of June 30 1913 amounted to $17,374,558 20, a gain
-of $3,617,622 07 over the preceding
year.
DISCOUNT ON SECURITIES.
The Discount
the
Equipment Trust Obligations and other
during the year amounted
to $110,350 00, of which $12,017 04 was
charged to Income
Jtnd the balance $98,332 96, to Profit and Loss.
on
securities sold by the Company
.
The
additional
main
track
between
Constitution
Roseland, Ga., referred to in last year's report, is
operation.
'
\
:
,
,
The
INTEREST.
The accrued interest on Mortgage, Bonded and
Secured
Debt for the year ended June 30 1913 was
$104,729 44 less
than for the preceding year.
The interest on
Equipment
Trust
Obligations decreased $5,604 43 and on Bonds and
principally to the retirement at ma¬
turity February 1 1913 of $5,000,000 of the Company's
Notes $99,125 01, due
Three-Year Five Per Cent, Notes.
DIVIDENDS.
.
*
.
A dividend of Two and One-Half Per Cent on the
Preferred
"Stock of the Company was paid April 24 1913 and
provision
has been made for the payment on October 30
1913 of a
dividend of Two and One-Half Per Cent declared out of
Income earned during the year.
'
PROPERTY INVESTMENT
depre¬
increased $3,516,514 27, of which $2,927,739 04
Roadway and Structures and $588,775 23 in Equip¬
ment.
This increase represents net additions made
during
the year.
(See pages 24 and 25, pamphlet report.)
During the year there was a decrease of $3,628,600 in out¬
standing Mortgage and Collateral Trust Bonds and Notes
and
$1,234,000 in Equipment Trust Obligations.
(See
ciation,
was
in
28, pamphlet report.)
$10,000,000 Three-Year Five Per Cent Notes issued
were retired
by the payment at maturity February 1
1913 of $5,000,000 in cash out of
Treasury funds, and with
the proceeds from the sale of $5,000,000 Three-Year
Five
page
The
in 1910
Per Cent Notes dated February 1 1913.
There were paid at maturity
April 10 1913 $150,000 At¬
lantic Tennessee & Ohio Railroad
Company First Mortgage
Six Per Cent Bonds and a like amount of Southern
Railway
Company First Consolidated Mortgage Five Per Cent Bonds
were drawn therefor as
provided in the Mortgage.
double-track
connection
with
the
in
/
Cincinnati
New Orleans & Texas Pacific
Railway at Citico Junction,
Tenn., equipped with interlocking signals, referred tp in;
report for the preceding year, was completed and put in
service during the year.
The Knoxville River Front Extension, referred to in last
year's report, was completed during the year and the entire
line is now in operation.
•
\
;
The belt line at High Point, N. C., referred to in last
year's report, was completed and put in service during the
•
.
year.
„
.
.
The lap-sidings between Macon and
Jesupy Ga., the
aggre¬
gate length of which is 19,028 feet, referred to in last year's
report, were completed and put in service during the year.
A
new
gravity yard at Macon, Ga.,
was
completed and
put in service during the year.
A
^ND MORTGAGE DEBT.
The investment in physical
property, exclusive of
new
.
and
now
new
line from
extending to
ore
near Forbes, Va., on the Franklin
Branch,
properties, was completed during the year.
A revision of the main line for a distance of 3.3 miles in
the vicinity of Parr Shoals, S. C., was made necessary by the
construction, by a power company, of a dam in Broad River.
The expense of this work is to be borne by the power com¬
pany.
The
.
station at Lynchburg, Va., the build¬
made necessary by the new double-track
line at that point, was put in service October 31 1912.
The installation of electrical automatic signal system be¬
tween Denim and Charlotte, N. C., a distance of
approxi¬
mately 96 miles, was completed and placed in operation
during the year, and a similar system is under construction
between Cameron Run and Orange, Va., a distance of
ap¬
proximately 75 miles.
^
During the year the Company received the following new
and additional equipment: 45 locomotives, 20 steel frame
passenger coaches, 10 steel baggage, mail and express Cars,
6 steel frame dining cars, '275 steel underframe ventilated
box cars, 150 steel underframe automobile box cars, 104 steel
new
passenger
ing of which
was
(
OCT. 18
flat
cars
THE
1913.]
and 4 pieces of
It had in
road service equipment.
during the year 600 coal cars, the
bodies of which had passed the stage of economical operation
into steel underframe ventilated box cars, of which 551 were
of
course
conversion
completed and placed in service during the year.
Since the close of the year the Company has contracted
for the following additional
equipment: 25 locomotives,
1,720 fifty-ton steel coal cars and 150 thirty-ton steel underframe stock cars..
OPERATIONS.
'
■
Gross Revenues
increased
o\er
'.Vj-;
-
those of the preceding
year
Operating Expenses increased $4,577,687 16,
$4,939,161 30.
*f which increase 57.14 per cent, or more
than one-half, was
of the property, 33.28 per cent on trans¬
in maintenance
portation, 7.62 per cent in the development of traffic and
1.96 per cent in administration expenses.
Approximately
37.68 per cent of;the increase in the cost of transportation
was due to higher wage schedules.
Freight
Traffic:
f-
Freight revenues increased over those of the preceding
year
$3,435,447 44.
growth in production and in the consuming energy
territory served by the Company's line is reflected in
.
The
of the
its classified
tonnage statistics.
statistics reveal increased tonnage in a
These
ten years, as
1,037,699 tons, or 42.1 per cent
—
__
Products of Mines
Products of Forest
-
Manufactures and Miscellaneous
53,689
3,528,532
1,921,428
3,710,757
tons, or 19.9 per cent
toils,
or
42.8 per cent
tons, or 62.4 per cent
tons, or 72.3 per cent
10,252,105 tons, or 53.4 per cent
Total Increase--
Production in
tant
period of
follows:
Products of Agriculture..
Products of Animals
excess
of local need creates tonnage for dis¬
markets, and the increase in the tonnage of the products
soil, forest and factory illustrates a remarkable ex¬
of the
pansion in the distribution of the products of the section
the Company serves.
The production of grain in the Southeast has increased
largely in recent years, but in the section as a whole the
production is not yet in excess of the local demand although,
with the more general adoption of diversified farming, the
tendency is strongly in that direction.
;
; •
The volume of other agricultural products is steadily in¬
creasing and the Southeast is supplying other sections of the
eountry in larger measure each year with its fruits and
vegetables.
• ■
•
The expansion of industrial enterprise kedps well abreast
with the progress, of the country at large, and there is a
steady increase in tonnage of the products of mines and
forests
and of manufactures.
Passenger
•'
•
;
Traffic:
The passenger
traffic of the Company has shown a gratify¬
ing increase during the year, the increase in revenues there¬
from being $1,280,678 07.
Ah important factor in bringing
this about is the geographical location of the system with
reference to the currents of commercial travel and to the
summer and winter tourist resorts of the Southeast'.
Reach¬
ing most of the principal commercial centers of the section
the Company's lines are favorably, located for travel within
the territory and between it and other sections of the United
States.
Increasing numbers of conventions, re-unions,
religious assemblies and similar gatherings are being held at
points on the Company's lines, and in connection with the
religious assemblies there is in progress a noteworthy develop¬
ment of community life in the summer-resort regions in the
mountainous territory served by the Company, resulting in
^
a.
substantial increase in travel
over
1133
CHRONICLE
its lines.
908,533 bales, or 38.4 per cent.
While cotton production
was
thus being more than maintained, the corn crop was
increased from 290,231,843 bushels in 1900 to 504,135,000
bushels in 1912, an increase of 213,903,157 bushels, or 73.7
per cent.
1
The Company's
■
Department of Farm Improvement Work
is continuing to be an effective factor in bringing about in¬
creased agricultural production in the territory along its
lines.
On farms where its advice has been followed, crop
per acre have been substantially larger than on similar
lands in the same localities where this advice has not been
yields
be illustrated by a case in which a
advice of the Department on part of a
field from which he harvested 35 bushels of wheat, as com¬
This
followed.
may
farmer follo-wed the
pared with 103^ bushels on the remainder of the same field
which was farmed in accordance with his old methods.
A
preliminary report of the Manager of this Department for
the
urrent year shows that its Field Agents were actively
co-operating with 2,374 farmers and that 62,090 acres were
being cultivated under their personal instructions.
The
scope of the Department's work is much broader than in¬
dicated by these figures, as many farmers not working under
personal instructions are following the advice of the Depart¬
ment, and as the Manager, Assistant Managers, and Field
Agents deliver addresses at meetings of farmers, attend large
number of farmers' meetings and hold neighborhood meetings
in the fields where practical demonstrations of improved
methods are given.
The Mexican cotton boll-weevil having spread into terri¬
the lines of the Company and its Associated
Companies in Mississippi and in Western Alabama, special
efforts have been made by the Department of Farm Improve¬
ment Work, in co-operation with the United States Depart¬
ment of Agriculture, State authorities and local merchants
and bankers, to aid the farmers in controlling this insect.
These efforts have been so highly successful as greatly to
reduce the damage done by the weevil.
The results attained
have been such as to demonstrate the wisdom of the Company
tory along
in undertaking, in advance of
to instruct farmers as to its
the
appearance
control.
of the weevil,
There is
no
other
region into which this insect has spread since its first appear¬
ance in Texas in which the damage in the first year of its
general prevalence has been so small as in the territory along
the Company's lines.
The live stock and dairy industries in the territory traversed
by the "Company's lines have continued to receive helpful
attention during the year. Through the operation of a dairy
instruction car and through visiting dairymen and farmers,
demonstrating the best methods of handling milk and making
butter, and giving advice as to the selection and management
of dairy herds and as to the management of poultry, a sub¬
stantial development of the dairy, and poultry industries
along the Company's, lines is being brought about.
The
attention given to the live stock business has resulted in in¬
creased movements pf cattle to the various feeding grounds
along the Company's lines and of butchers' stock to market.
Marketing Agricultural and Horticultural Products:
being essential to profitable produc¬
tion, the Company and its Associated Companies on Janu¬
ary 1 1913 appointed four Market Agents to co-operate with
producers and buyers for the successful marketing of agri¬
cultural and horticultural products from the territory ad¬
jacent to their lines 1
These agents neither buy nor sell, but
it is their function to advise producers as to market oppor¬
Successful marketing
tunities and
as
to best methods of
packing and shipping, and
to advise
may
buyers as to where different varieties of products
be obtained.
The services of these Agents are being
availed of with substantial results.
operations of the Company are set forth in the
report of the Vice-President and General Manager hereto
annexed.
"
\V„,
Details of
,
Farm
Settlers:
continued
RELATIONS OF THE COMPANY TO THE PROGRESS
OF THE SOUTH.
During the
year
the? Company has continued and still
Company's lines is indicated by United States Census figures
showing that the value of farm property increased from
$2,189,114,320 in 1900 to $4,461,411,250 in 1910, an in¬
crease of $2,272,296,930, or 103.8
per cent, a much higher
percentage of increase than is shown for any other group of
older States.- During the decade covered by the Census
the total annual value of all farm crops produced in those
increased from $593,843,573 to $1,199,424,319, an
States
more
or
102 per cent, which is also a
rapid rate of increase than is shown by
of older
Department of the Company has
solicitation of farm settlers.
broadened "its
The
advantages which the Southeast has to offer in climate
are relatively cheap in proportion to their
productive value and the accessibility of markets are being
more
widely appreciated.
The abundance 9f land avail¬
able is indicated bv the United States Census figures showing
^
a total land area of 264,058,880 acres,
the nine
Southeastern States had 169,.174,373 acres, or 64 percent
that, with
'
The rate at which agricultural development is adding to
the wealth of the nine Southeastern States traversed by the
increase of $605,580,746,
and
and in lands that
further expanded its broad work in aid of agricultural and
industrial development in the territory traversed by its lines.
Agriculture:
.
The Land and Industrial
any
other
group
States.
The most marked tendency of agricultural progress in the
Southeast is in the direction of wider diversification and in¬
creased attention to live stock.
in farms, and the Census Bureau classes 82,831,384 acres, or
48.9 per cent of the land in farms, or 31.4 per cent of the
total
land
as
"improved farms."
The agricultural
territory are such that it offers an attractive
field for the farm settler from the more congested parts of
the United States or for the men who have found conditions
resources
area,
of the
disappointing in other localities.
The result is that there is
an increasing movement of farm settlers into the territory
along the Company's lines.
Manufacturing:
The
advantages of the territory along the Company's lines
led to continued develop¬
ment during the year.
Special attention is being given to
the location of industries which use as their raw materials
for diversified manufacturing have
At the same time the pro¬ the products of primary manufacturing and to attracting
distinctively Southern crops is being maintained .to the Southeast industries which have Hot heretofore been
and increased.
This may be strikingly illustrated by stalargely developed in that section.
tstics of cotton and corn.
Cotton production in the States
The number of new industrial plants completed during
traversed by the Company's lines increased from 4,967,490.
the fiscal year at points on the Company's lines was 523,
bales in 1900 to 6,876,023 bales in 1912, an increase of 1,classified as follows:
duction of
THE
CHRONICLE
Bri<%Wqrt»
37
Cotton SbetFOil Mills,
Fertilizer W orks
Flour and Feed Mills
Furniture Factories
Iron Industries —-J
'
Lumber Mills
Stone
^
-
T-
J-!-i. : -"
_
-•
;.
1
-
: ; -1 A'
11
—'
-
-1 ..;
-
-
_
_
-—-
:
-
j—
93
-
44
Tanneries:.--—- : :i
.lit_————Textile Mills
Woodworking Plants. ---------—1
Misceiljjuaeous
:_
——•—
_
-
-
-
_
-
_
.
_
-
__
37
Tojtall
169
-
•
examined,
as
Public
were
made
during the
year was
usual, by Certified
Accountants, Messrs,. Patterson, Teele & Dennis, and
their certificate is made a
part of this report.
''
Respectfully submitted, by order of the Board, .•
The number of industrial plants under construction at the
close of the year was 60, and the number of plants to which
additions
Company
in the usual detail will be found in the tables
hereto annexed.
The accounts have been
523
.
•
ACCOUNTS AND STATISTICS.
Statements of the accounts and statistics of the
46
.
OF EMPLOYEES,
of much
source
duties.
2
-.
a
pleasure'to the Board to renew its
expression of appreciation of the loyal and efficient service
rendered during the year
by officers and employees in all
departments of the Company in the performace of their
24
-
-
Quarries, Coal and Other Mines
-
It is.
26
14
-
_
SERVICE
20
-
---------
222.
W.
W.
F1NLEY; President.
T.-T-T-
TABLE
1.
■'.vHwr* r-f
■
-INCOME
STATEMENT
r
FOR YEAR
ENDED
JUNE
30
JUNE
30
1913
COMPARED
-;--V
1912.
WITH
YEAR
1912.
1913.
OPERATING
$41,508,300
16,939.811
326,202
1,352,298
1,948,956
876,357
638,401
07
$7,841,220
10,108,672
1,745,353
22,081,653
1,919,336
15
84
05
47
88
38
36
REVENUES—
Freight Revenue.---—
Passenger Revenue
Miscellaneous Passenger-Train Revenue
88
62
80
79
Mail Revenue
V
-
$44,943,747
18,220,489
330,547
1,379,165
2,008,008
924,656
722,874
-—-———
Express Revenue
i-—
Other Transportation Revenue.
Revenue from Operations other than Transportation.
—
TOTAL OPERATING
OPERATING EXPENSES—
$63,590,328 90
81
00
99
90
25
OPERATING
$68,52®,490 20
$9,275,553
11,290,337
2,094,009
23,605,046
2,008,977
——
Transportation Expenses
General Expenses.
TOTAL
'
82
43
REVENUES
Maintenance of Way and Structures
Maintenance of Equipment.
'
Traffic Expens&s
43,696,236 39
;
-----
17
19
69
02
48
EXPENSES.
48,273,923 55
$19,894,092 51 NET OPERATING REVENUE
64,754 67 AUXILIARY OPERATIONS—NET REVENUE
$20,255,566 65
80,535 87
$19,958,847 18 NET REVENUE--—
2,452,328 28 TAXES-
$20,336,102 52
2,480,387 28
-—
$17,506,518 90 OPERATING INCOME
$17,855,715 24
—
OTHER INCOME—
Rents from Lease of Roads.
Hire of Equipment—Balance.
$20,000
31,206
208.394
112,517
28,373
1
—
—...
Joint Facility Rent
Miscellaneous Rent
Net Income from Rah Leased
Dividends on Stocks
Interest on Bonds and Notes
1,357,142
1,401,290
268,376
153,140
Interest
on
1
—
Unfunded Securities and Accounts
—
—
—.
—
,
Miscellaneous Income
3,580,441 70
TOTAL OTHER
:
INCOME
-
-
—
—
-
■_
Separately Operated Properties
...
Amortization of Discount on Funded Debt
Interest on Unfunded Debt
366 84
Miscellaneous
3,180,139 70
Deductions
-—
$48,213
1,783,327
969,219
35,920
167,633
12,017
:
72
58
82
74
10
04
87,509 61
;_
TOTAL DEDUCTIONS.
3,104,086 17
$17,906,820 90 TOTAL AVAILABLE INCOME
$10,204,481 66
712,414 18
INTEREST
ACCRUED ON FUNDED DEBT (See Table 2,
pamphlet report)
$10,105,356 65
INTEREST ACCRUED ON EQUIPMENT OBLIGATIONS
(See Table 2, pam. report)
706,809 75
DIVIDENDS ACCRUED ON SOUTHERN RAILWAY—MOBILE & OHIO
STOCK
TRUST CERTIFICATES-
$18,117,599 57
—
226,808 00
—
—
226.808 00
-
11,143,703 84
11,038,974 40
$6,763,117 06
BALANCE OF INCOME OVER CHARGES
$7,078,625 17
^
FROM WHICH DEDUCT DIVIDENDS ON PREFERRED STOCK—
$1,200,000 00
Nos. 23
No.
1,500,000 00
2,700,000 00
(2%) and 25 (2^%), paid in April
24 (2H%), paid in October
payable in October 1913
$1,500,000 00
-
1912, and Reserve for Dividend No. 26
(2>£%),
1,500,000 00
:
-
TOTAL DIVIDENDS
3,000,000 00
$4,063,117 06 BALANCE OVER DIVIDENDS ON PREFERRED STOCK —
—'—
44,989 42 APPROPRIATION OF INCOME FOR ADDITIONS AND BETTERMENTS
$4,078,625 17
48,660 48
—
BALANCE CARRIED TO CREDIT OF PROFIT AND LOSS
$4,018,127 64
The Decrease in Interest
consists
•
244 56
-
-
'
$21,221,685 74
-
Miscellaneous Rent
87,463 46
00
83
09
03
19
55
35
38
08
3,365.970 50
DEDUCTIONS FROM TOTAL GROSS INCOME—
Income from Operation, Southern Railway Company in
Mississippi, Alabama State
Line to Columbus, Miss____
Rents for Lease of Other Roads (See Table 2,
pamphlet report)
;
Joint Facility Rent
:
88
33
10
83
01
25
$65,0(10
5,072
210,696
108,095
27,396
1,318,235
1,390,490
214,434
26,550
-
TOTAL GROSS INCOME.
$21,086,960 60
$50,950
1,865,927
898.444
36,242
180,701
60,043
ENDED
v;,-/'*-
■
on
$4,029,964 69
Bonds and Notes amounting to
of:
$99,125 01
'
-
INCREASES—
Interest for twenty-seven days on $1,500,000 First Consolidated
Mortgage Five Per Cent Bonds sold June 4 1913-Interest on $52,000 Southern Railway-Mobile & Ohio Collateral Four Per
Cent Bonds, issued in exchange for a like
amount of Mobile & Ohio Railroad Company General
Mortgage Four Per Cent Bonds
(
Interest
on
-
$5,000,000 Three-Year Five Per Cent Notes, issued February 1, 1913
Total
Increase
DECREASES—
J
-
-—
$113,158 33
—
•
•
.
.
$150,000 Atlantic Tennessee & Ohio Railroad First Mortgage Six Per Cent Bonds retired at ma¬
turity, April 10 1913-$21250 00
Interest on $10,000,000 Three-Year Five Per Cent Notes retired at
maturity, February 1 1913
---208,333 34
Interest on $30,600 Charlottesville & Rapidan Railroad Bonds retired
through provision of sinking fund----'
1,700 00
on
-----
•
3,366 67
104,166 66
-
■
.
Interest
,
$5,625 00
—
—
Total Decrease
'
212,283 34
-
Net Decrease
The Decrease in Interest
consists of:
$99,125 01
on
Equipment Trust Obligations amounting to
-
-
$5,604 43
INCREASES—
Interest
on
Interest
on
Interest
on
Equipment Trust O
Equipment Trust P
Equipment Trust Q
—
$17,507 90
49,727 54
28,540 13
-
Total
Increase
DECREASES—
Interest
Interest
on
Interest
on
Interest
on
on
Interest
on
Interest
on
$95,775 57
Equipment
Equipment
Equipment
Equipment
Equipment
Equipment
Total Decrease
'
Trust
Trust
Trust
Trust
Trust
Trust
E
H
K
L
M
N
-
—
_—
—
'
i
-
„
Net Decrease
$13,230
20,250
11,200
27,000
6,300
23,400
-
00
00
00
00
00
00
101,380 00
-
$5,604 43
(
m! j
ANt> LOSS tfOR YEAR ENfiED JUNE 30 1913.
TABLE 3.—PROFIT
.
,
of this Account June 30 1912
Credit Balance of Income for the Year.
Balance at Credit
Add:
A
Deduel:
,•
'
i
vj
v
m
.
$17,786,900 82
598,332
58,711
86,437
off during the year
Discount on Securities charged
Value of Property Abandoned
Balance June 30
...
!
'
v
..-$13,756,936 13
4,029,964 69
—
—
►*-.
—
— - — --—
.——_
September 1906
at Jellico, Tenn.,
Damages to Property occasioned by explosion of dynamite
Advances to Delta Southern Railway written down
Net Miscellaneous Debits
Credit
1135
CHRONICLE
Oct. 18 1913.1
153,072
15,788
—
96
•'••••
25
76
'
27
38—•
412,342 62
.$17,374,558 2
1913-..
TABLE
o
1912.
L913 AND JUNE 30
-GENERAL BALANCE SHEET JUNE
4.
June 30 1913.
ASSISTS.
June 30 1912.
PROPERTY INVESTMENT
Road and Equipment—
Investment to June 30 1907:
.'
Vi.
.
,
'
1
.
,
•'
Road
$287,434,900 33
$334,107,009 20
Total Investment to June 30 1907
$334,107,009 20
;
Road
$17,600,330 82
:
^
;
'
Investment since June 30 1907:
"•
$287,434,900 33
46,672,108 87
-
(Including Trust Equipment)
Equipment
46,672,108 87
,
$20,528,069 86
18,830,114 91
— ...
....
,----~ —
Equipment (Including Trust Equipment)...
Total Investment since June 30 1907
18,241,339 68
35,841,670 50
Road
Total
$369,948,679 70
and
39,358,184 77
:
...
$373,465,193 97
14,321,746 67
Equipment..,
_
Depreciation on Equipment..—
*
Less: Reserve for Accrued
13,480,904 46
$359,143,447 30
Total Net Road and Equipment.
$356,467,775 24
Proprietary, Affiliated and Controlled
of
Securities
...
—
Companies, Pledged:
stocks
$2,487,686 26
21,508,920 74
$23,996,607 00
2.000,000 00
$2,487,586 26
----
Bonds Issued or Assumed, Pledged..
Securities of Proprietary, Affiliated and
$23,996,507 00
2,000.000 00
.1...
—
21,508,920 74
—
Controlled Companies, Unpledged:
$116,887 21
$116,887 21
684,418 75
678,418 75
795,305 96
801,305 96
Total
$26,797,912 96
"
Affiliated and Controlled
Equipment and Betterments...#,*—
Other Investments:
...
Advances to Proprietary,
$419,193 34
*
-
Miscellaneous Investments:
Physical
$353,590 67
83,588,943 91
9,450,980 28
^
$26,791,812 96
:
—:i_.
...
■
Construction,
Companies for
$•108,234 86
... — -—
■
Property..
$401,844 24
33,640,943 91
— . .. - - - ... - — - -
9,283,027 94
43,325.816 09
43,395,514 86
$43,734,050 95
$43,814,708 20
WORKING ASSETS—
$13,048,782 30
Marketable
....
'
Securities:
$236,522 00
179,059 04
„
$8,295,928 23
27,148,800 00
Held In Treasury
Securities Issued or Assumed,
22.331,800 00
.
.
•
.
J.
.
§256,522
00
179,060 04
Miscellaneous
61,455 00
>„
j
.
-I -
-1 - .1 - - - - - - -
435,582
398,402
826,707
449,968
2^32:361
5,343,032
04
85
66
74
69
61
774,248 79
-----
487,036 04
Receivable
448.483 55
Loans and Bills
762,026 42
467,025 40
Traffic and Car Service Balances
Balance due from
*
—
due from other Companies
—1__.
s..;
Agents and Conductors.
2,237.325 52
Miscellaneotis Accounts
4,210.084 90
722,674 10
Receivable._—
Material and
Supplies (See Table II.
Other Working Assots
—...
—
...
$16,605,032-52
$44,715,238 23
$1,062,490 26
ACCRUED INCOME NOT DUE: Unmatured Interest, Dividends and
DEFERRED DEBIT ITEMS—
Temporary advances to Proprietary,
Working Funds ....
$730,882 15
136,428 19
1,063,764 13
Other
Advances
T.
—
Insurance Premiums
2,046 61
29,150 03
2,923,331 19
a
3,525 00
915.941 37
Taxes
$962,243 79
Rents Receivable
Affiliated and Controlled Companies......._
—. —
Paid in Advance.
............—.....
:
_■
___________
...—
Special Deposits-. —;
...—
Cash-and Securities in Sinking and Redemption Funds, i
Cash and Securities in Insurance Reserve Fund-'
......—
Other Deferred Debit Items
I.n
1,377,926 99
Total
7,182,995 66
-
Grand Total
$480,041,120 55
986,782 28
1,486 68
—
_ —
Paid in Advance-.
$895,737 86
255,034 61
29,089 11
2,718*161 33
39,293 80
989,351 41
-
1,432,770 97
7,147,719 05
"...
$484,381,306 57
^
—
.
i
LIABILITIES.
CAPITAL STOCK—
Common
$120,< )0,000 00
60,( )0,000 00
$180,000,000 00
$193,956,90f
00
24.539.80C 00
218,196,700 00
$19,738,700 00
42,000 00
•Total
$248,381,400 00:
16,380,000 00 1
817,608 07
17
59
44
$180,000,100 00
'—-
'
....
DEBT—
______
,
.....
...
i._
$195,276,300 0(1
29,356,800 00
$224,633,100 00
Total
$19,790,700 00
"
42,000 00
Outstanding
Bonds, Hold by Company...
Total
19,832,700 00
5,107,000 00
.:
—
......
Notes, Outstanding
Total (See Table 5, pamphlet report)..
Equipment Trust Obligations (See Table 6,
••
Total
Matured Interest,
pamphlet report)
..... —
$249,572,800 00
15.146.QOO 00
-.2
264,718,^09 09
.'
—...
—
—
—
due to other Companies
Wages Unpaid...
...
_i-_-
Dividends and Rents Unpaid, including amounts due July 1
Bonded and Secured Debt Unpaid, not presented for Redem'n
00
Matured Mortgage,
55
Other
12,120,139 82
$1,697,303 31
953,013 02
Working Liabilities
Operating
.915,941 37
$480,011,120 53
2,554.226
26
$1,286,086 33
Reserves
1,886,103 62
Items-..
3.172.1S9 95
,
Stock-, pay
PROFTT^ANnDLOSSlIZI 111II11 ^ 11 -11111II11ZHII11II1111 ~ HZ IZI
G^AND TOTAL
Securities on Leasehold Estates and the contra
itioh further below &hd table 7, pamphlet report.
982,398 61
CREDIT ITEMS—
Total
3,971,886 36
APPROPRIATED SURPLUS—
Reserve for Dividends No. 24„ 2H %, and No. 26, 2M %, on Preferred
able October 1912 and 1913, respectively....
Additions to.Property since June 30 1907 through Income.
Insurance Reserve Fund
—
2,777,441 91
13,756,936 13
§1,571,827 65
-
Other deferred Credit
..
361,500 54
36
58
39
68
80
92
Total
DEFERRED
$1,590,000 00
.
00
13.665.C16 73
Taxes.
$1,983,983 09
1,987,903 27
$455,000
1,071,555
1,915,724
270,825
2,933,534
38,673
1,949,702
Total
ACCRUED LIABILITIES NOT DUE—
Unmatured Interest and Rents Payable.
2,650,316 33
lee exj>i
i
—
WORKING LIABILITIES—
Loans aud Bills Payable
Traffic and Car Service Balances
Audited Vouchers, Accounts and
Miscellaneous Accounts Payable.
$455,000 00
_
--j—•-
Collateral Trust Bonds,
$264,764,400 00
v
—
MORTGAGE, BONDED AND SECURED
Mortgage Bonds, Outstanding
Mortgage Bonds, Held by Company...
Collateral Trust
19,780,700 00
10,107,000 00
5,984,377
344,295
2,880,202
3,400
1.635,256
$120,000,000 00
60,000,000 00
-—
Preferred
$1,500,000 00
410,161 02
•89,354 41
2.899,511 '43
17,374,55? 20
$484,384,306 57
—
asset in Property Investment, herefofore aho*n, are
eliminated from this Balance Sh
1136
THE
THE MISSOURI
CHRONICLE
PACIFIC
[Vol.
xcvii.
RAILWAY COMPANY
FOURTH ANNUAL REPORT—FOR THE FISCAL TEAR ENDED JUNE 30 1913.
St. Louis, Mo., September 10th 1913.
To the Stockholders of
'
The Missouri Pacific Railway Company and the
St. Louis Iron Mountain & Southern Railway Company:
^
,•
•
•
,
.
:
The Boards of Directors herewith submit their report of affairs for the fiscal
year ended June 30 1913.
.
The summary
of results from operation is
as
follows:
.
Increase.
1913.
Amount.
Average Mileage Operated.
Decrease.
1912.
7,257.00
7,230.77
Per Ct.
26.23
Amount.
PerCt.
.36
Railway Operating Income:
Rail Operations—Revenue:
Freight
Passenger
Passenger—Other
S45.748.269
11,627,480
199,628
1,450,607
1,711,305
934,168
MaiK_.
Express..
Miscellaneous
i
..
Total Revenue from Transportation.
55
97
35
02
.,671,459 88
$39,514,355
10,662,443
196,006
1,429,607
1,374,454
891,224
87
17
14
72
41
79
$6,233,913
965,037
3,622
21,000
336,850
42,943
52
43
41
25
94
23
15.78
9.05
1.85
1.47
24.51
4.82
$54,068,092 10
435,157 82
$7,603,367 78
14.06
484,046 26
48,888 44
11.23
$62,155,506 14
$54,503,249 92
$7,652,256 22
14.04
Non-transportation Revenue
Total Operating Revenues
•;
39
60
Rail Operations—Expenses:
Maintenance of Way and Structures.
Maintenance of Equipment
Traffic Expenses.
u
Transportation Expenses
Expenses
,
$9,263,360
9,860,187
1,425,167
22,528,447
1,621,833
...
General
Total Operating Expenses.
32
54
92
44
83
$8,664,769
8,321,786
1,358,014
21,268,313
1,667,708
03
50
19
87
42
$598,591
1,538,401
67,153
1,260,133
29
04
73
57
6.91
18.49
4.94
5.92
$45,874 59
$41,280,592 01
$3,418,405 04
$17,456,509 09
93,004 62
$13,222,657 91
$4,233,851 18
32.02
Net Railway Operating Revenue.
$17,363,504 47
$13,101,805 15
$4,261,699 32
23.04
8.28
Net Revenues—Rail Operations..
Net Deficit from Auxiliary Operations....
2.75
$27,848 14
$44,698,997 05
32.53
.
Railway Tax Accruals
120,852 76
$2,314,348 73
$2,218,018 40
$96,330 33
4.34
$15,049,155 74
$10,883,786 75
$4,165,368 99
38.27
.....
Railway Operating Income
Other Income:
Rent
*
■
'
'
'
.'I
Dividends from Stock...
Interest
...
$519,527 98
78,751 50
1,833,771 35
31,548 07
....
Miscellaneous Income
Total Other Income-
Gross
"52.099
$216,953 44
33.38
$115,830 55
36.06
9.66
$4^382,322 43
62.28
$269,126 94
$2,246,645 46
13.12
$998,580
477,240
14,408,124
66,075
:
Deductions
Total Deductions
08
27
59
82
$882,749
746,367
13,436,313
44,093
53
21
58
38
~
971,81101
7"23
21,982 44
49.85
5,56
$15,950,020 76
$15,109,523 70
$840,497 06
$1,562,733 88
de/$l,979,091 49
$3,541,825 37
Loss..
Operating Revenue
per mile of road.
Operating Revenue per revenue train mile.
Operating Expense per mile of road.
Operating Expense per revenue train mile
Net Operating Revenue per mile of road
Net Operating Revenue per revenue train mile
Ratio of Operating Expense to Operating Revenue.
$8,564 90
$7,537 68
2.23.867
6,159 43
2.07.466
5,709 02
1.60.993
1.57.134
1,828 66
2,405 47
.62.874
.50.332
71.91%
$1.027 22
13.63
.16.401
450 41
7.91
7.89
.03.859
576 81
31.54
.12.542
24.92
2.46
75.74%
3.83%
For comparative purposes the figures for the year ended June
30th 1912 have been revised to compare with the present year, and U
the Classification of the Inter-State Commerce Commission.
CAPITAL STOCK.
year.,
..
no
change in the capital stock during the
.
FUNDED DEBT.
i.
The
following changes were effected in the funded debt in
during the year:
hands of the public
The Missouri Pacific Railxoay Company—
Funded Debt decreased.
$24,000 00
Equipment Trust Obligations decreased.1,437,000 00
,
Total
Decrease
...
.
*■
$1,461,000 00
______
St. Louis Iron Mountain <& Southern Railway Company—
Funded Debt increased.
$5,542,095 00
Equipment Trust Obligations increased
1,213,000 00
'
_
*
:
i
Total Increase..
__
$4,329,095 00
The St. Louis Iron Mountain & Southern
Railwa^ Com¬
has purchased and retired the remaining bonds out¬
standing in the hands of the public under its First Preferred
Income Consolidated Mortgage, amounting fo$37,905.
pany
.
The St. Louis Iron Mountain & Southern
Railway Com¬
also retired during the year $11,300,000, being all of
the outstanding bonds issued under its Improvement Mort¬
gage and the three-year note payable to The Missouri Pacific
Railway Company, amounting to $8,500,000.
The Improve¬
ment Mortgage has been satisfied of record and
canceled,
pany
and the note has been likewise canceled.
The same amount ($11,300,000) of the
outstanding Mis¬
souri Pacific Railway Company's First and
Refunding Bonds
were simultaneously surrendered, and the
right to issue an
additional $13,700,000 of said Refunding Bonds
against a
like amount of Improvement Bonds was canceled
by the
satisfaction of record of the Improvement Mortgage.
The St j
Louis Iron Mountain & Southern
Railway Com¬
has executed an indenture to Union Trust Company of
New York and Benjamin F. Edwards, as
Trustees, dated
June 1st 1913, supplemental to its First and Refunding Mort¬
gage to the same Trustees dated July 1st 1912.
This sup¬
plemental indenture provides, among other things, for the
creation of a sinking fund, to be made up of one-third of the
Company's net income (after deducting an amount sufficient
pany
agree
with
,
.
There has been
75.04
44
Income:
....
or
$236,714 50
83,647 51
$13,130,432 21
Rent
Net Income
5.63
35.26
60
$2,463,598 90
Equipment Rents—Debit Balance
Interest..
Miscellaneous
$27,704 78
"478,062
$17,512,754 64
Gross Income
Deductions from
$491,823 20
315,466 00
1,355,708 75
'
to pay a dividend of 4 per cent upon its outstanding capital
stock) which is to be paid into the sinking fund annually on
and after September 30th 1915, such amount, however,
being limited to $1,000,000 in any one year, which said
sinking fund is to be used for the purchase for cancellation
or for the redemption of bonds at any time
outstanding under
said refunding mortgage and supplemental indenture.
Certain changes have been made in the collateral securing
the three-year 5% gold notes due June 1st 1914, in accord¬
ance with the provisions of the indenture securing them and
there is at present pledged for the security of these notes, of
which $24,976,000 are outstanding, the following collateral:
$22,000,000 face value, St
Louis Iron Mountain & Southern Railway
Company 6 Per Cent Forty-Year Gold Bonds, Series "A
(non-convertible), due Jjuly 1st 1952, secured by the first
and refunding mortgage and indenture supplemental thereto
1,070,000 par value (10,700 shares), St. Louis Iron Mountain & Southern
Railway Company Stock.
1,972,000 face value, The Missouri Pacific Railway Company First and
Refunding Mortgage Fifty-Year 5 Per Cent Gold Bonds,
;
'
Series "B" (non-convertible), due September 1st 1959.
9,800,000 par value (98.000 shares), The Denver & Rio Grande Railroad
Company Preferred Stock.
15,000,000 par value (150,000 shares), The Denver & Rio Grande Railroad
•Company Common Stock.
828,380 face value, Thd Texas & Pacific Railway Company 5 Per Cent
Gold Note, due June 1st 1914.
525,000 face value, Concordia Coal Company First Mortgage 5 Per
Cent Bonds, due October 1st 1945.
150,000 par value (1,500 shares). Baring Cross Bridge Company 7 Per
•
Cent
Stock.
125,000 par value (1,250 shares)
Pubelo Stock Yards Company Stock.
1,000,000 par value (10,000 shares)
Western Coal & Mining Company
,
,
Stock.
NEW LINES.
The
line
between
Marianna
and
West
Memphis, Ark.
was placed in
(42.9 miles), referred to in last year's report,
operation February 1st 1913.
The lines of railway of the
Marion & Johnston City Railway Company
Marion & Harrisburg Railway Company
Johnston
City Connecting Railway Company
6.99 miles
1.97 miles
2.05 miles
11.01 miles
located in the Southern Illinois Coal
District, the entire capi¬
tal stock of which was owned by the St. Louis Iron Moun¬
tain & Southern Railway Company, were transferred to the
OCT. 18
passenger per
deed, thereby eliminating any necessity for con¬
tinuing the separate corporate entity of each.
latter by
conjunction with local efforts, has not
assurance against damage by high
water in the lower Mississippi Valley.
The properties suf¬
fered a repetition of the floods of the previous year, although
to much less extent, on portions of the lines, principally in
Arkansas and Louisiana.
This contributed to the increase
Federal action, in
been sufficient to
The following new equipment was purchased or built at
Company's shops, and taken into the accounts, at cost of
$65,046 80:
120 tons capacity.
Locomotive Cranes, 25 tons
1 Wrecking Crane,
1 Steam Shovel.
capacity.
,
,
,
r'/-\
of 6.91 per
.
5 Snow Plows.
1 Lidgerwood
Unloader.
*
;
■'■■v
.
,
1 Caboose.
.
.
.
.
purchase of additional equipment was authorized and
ordered, but delivery not made at close of year, as follows:
,
2 Pile Drivers.
1 Bridge Erecting Derrick Car.
ADDITIONS AND BETTERMENTS.
Except for right of way and station grounds and similar
necessities, total amount involved approximately $30,000,
there were no realty acquisitions.
Cuts and Fills were widened to standard section on 650.54
miles, the major portion of it being
with necessary
ballasting, which
Gravel
was
essential in connection
applied as follows:
.209.42
.90
167.46
338.65
„
Rock
*
Cinders and Slag__
Chatts
;
miles
miles
miles
miles
.......716.43 miles
Total.....
only expedient but necessary to continue this
class of work, urged as it has been by increases in traffic
density.
The amount thus expended, exclusive of main¬
tenance charges, aggregated $1,978,768 26.
Except for completion of the revision between Gorham and
Bush, 111., and a number of small raises of track on account
of bridges or drainage, there were no expenditures for grade
reductions or changes of line.
y
'
y
New 90-lb. section rail was laid on 261.82 miles, in dis¬
It
not
was
increase of
There
.
Omaha
..4.88 miles
Total
tracks and terminal yards were newly
constructed or extended at a large number of points, increas¬
ing the track mileage 67.71 miles. .
Fencing right of way has been continued and 481.8 miles
completed during the year; in conjunction therewith 2,493
cattle guards were installed.
There were expended over $56,000 in improvement and
elimination of grade crossings and installation of three
spur
interlocking plants.
Additional automatic block signals have been provided
equipment has
telephone and telegraph lines to enable the
covering 9.73 track miles, and the necessary
been added to
extension of
the Manual telephone block
miles.
Mileage of telephone and telegraph
protection
over
781.49 additional operated
increased
as
circuits
has
been
follows:.
Telegraph Circuits.:
Telephone Train Dispatching
Local Telephone
....
—471.34 miles
—901.53 miles
62.13 miles
—
i
Total
1,435.00 miles
constructed of Brick, 16;
Frame,
14:
and others re-modeled or extended at 16 points.
; New water stations were established at Carna, Mont
Ida, Lane and Greenleaf, Kans.;
Nevada, Mo.; Dupo,
111.,
and
Guidon,
Ark. A new 250-ton mechanical
coaling station was completed at Bald Knob, Ark.
A substantial two-story hotel was erected at Bush, 111.,
because of the absence of adequate accommodations for
employees in the Coal District, and is being successfully
operated under an arrangement with the Railroad Young
f
New stations
were
Christian
Men's
Association.
.
expenditures for .Additions and Betterments for
the year aggregated $4,213,387 03 and
are listed under
"Road and Equipment."
.
Total
OPERATIONS.
The
revenues
from freight, from passenger
and all other
sources each exceeded any previous record in the
history of the property, the total operating revenues being
$62,155,506 14, representing an increase of 14.04 per cent
over the previous year and equaling $8,565 00 per mile of
road operated (average).
The revenue from freight traffic increased $6,233,913 52,
or 15.78 per cent, and by reason of the longer average haul
per ton the
accumulated ton mileage increased 18.23 per
oent. ■ The average haul this year was 243.17 miles, an in¬
operating
crease
of 5.11 miles.
$11,-
an increase of 9.05 per cent.
The nlimber of
carried one mile increased 8.42 per cent, while the
revenue per passenger and the average revenue per
627,480 60,
declined 2.75
per
new
on
the right of way, and new
requirements were constructed to the number of 124.
The operations of the Land Department were recorded on
page 55 [pamphlet].
:
The Hospital Fund of the employees of the system, hereto¬
fore managed by the officers of the: Company, was, on
November 1st 1912, turned over to a Board of Hospital'
.
Service Managers, representing the employees, together with
all funds and property then in possession of the Company.
Since the close of the fiscal year
the item of Notes Payable
$425,000, shown on the Missouri Pacific balance sheet,
has been reduced by the payment of $250,000.
The remain¬
of
ing $175,000 represents a note given to Board of Hospital'
Service Managers, covering a credit to the Hospital Fund on
the books of the Company November 1st 1912.
Similarly, the indebtedness of the St. Louis Iron Moun¬
tain & Southern Railway Co. to The Missouri Pacific Rail¬
Co. shown under Working Assets on page 18 and under
Working Liabilities on page 25 [pamphlet] has been reduced'
by the payment of $1,550,000 on the sale of First and Re¬
funding Mortgage bonds of the Iron Mountain Company
way
held in its treasury.
With the exception
of current obligations incidental toOperation, the System is carrying no floating debt.
The anticipations of a year ago with respect to the opera¬
tions of the property have been quite fully realized.
The
transition from a deficit last year of approximately twomillions of dollars to a "Net Income" credit of $1,562,734,
is but
a
corollary to the persistent and
economic application
directed toward the further development of that
recognized unit—the welfare of the public and the integrity
of the carrier.
As the curtailment, so also does the continu¬
ation, of this development largely rest with the peoples
served by the Missouri Pacific System.
Ordinarily, the expression "density of traffic"—meaning
in this instance the average number of revenue tons trans¬
ported one mile per mile of operated railroad—conveys little
but to state that this measure of quantity increased 17.8 per
cent over that obtaining last year, and 28 2-3 per cent com¬
pared with two years ago, cannot fail to impress both users of
the road ahd the public in general, not only with the tremen¬
dous increased wear and tear which must be currently re¬
of energy
stored, but also and more particularly with the absolute neces¬
sity of making the way clearer for securing adequate funds *
properly protected as an investment, so that the patent
facility and service requirements of the growing communities
may be competently met.
Action—and action there must
be—looking to the accomplishment of that end, constitutes
good citizenship, and carries a nation-wide influence in the
of our country, and is an obligation from which
geographic section can exempt itself.
Wholly apart from and in addition to enormous payments
for purchases, the System dispensed this last year in wages
alone a sum in excess of $29,000,000 00.
It is obvious that
the beneficiaries of such disbursement should be ardent
no
progressors
and defenders in the solution of all those complex
go to make for our mutual and inseparable*
factors which
"
success.
By order of the Board of Directors.
passengers
leverage
cent.
industries adjacent to or
sidings to meet industrial
established 448
common cause
mile was but 8.07 mills,
representing a decline of 2.06 per cent.
The tabulated statement on page 50 [pamphlet] records the
number of tons of each commodity carried, each group show¬
ing substantial increases, the groups contributing the greatest
tonnage increases being products of mines, products of agri¬
The average revenue per ton per
culture and products of forests.
The revenue from transportation of passengers was
were
.
2.29 miles
2.59 miles
West Side Junction to South Omaha.
Sidings and
12.13 per cent.
General Expenses
Additional second tracks were constructed:
Maintenance of
all items of work in connection therewith having
gratifyingly progressed.
The total charges per mile of road
aggregated more than $1,276 00.
.
The charges to repairs and renewals of locomotives, pas¬
senger and freight-train cars, were greatly increased, all
classes of equipment requiring very heavy repairs or re¬
construction, a large proportion of the excess over the pre¬
vious year being incident to the increased volume of traffic.
When applied to the equipment owned as at the beginning
of the year, the expenditures equaled per locomotive, $3,436 93, per passenger-train car $1,241 24 and per freight
car $90 63.
The result of these expenditures has been todecidedly raise the average condition throughout.
The two accounts of Maintenance of Way and Structures;
and Maintenance of Equipment, combined, present an outgo
for upkeep of more than $19,000,000 and equal nearly 31
per cent of the total operating revenue.
Traffic expenses increased 4.94 per cent.
Transportation expenses exhibit an increase of 5.92 per
cent, which affords gratification compared with the pre¬
ceding year; the revenue ton mileage increased more than 18
per cent
and passenger-train mileage nearly 6 per cent,
carrying an increase of over 8 per cent in the number of
passengers carried one mile.
The revenue freight per car
averaged 18.06 tons, an increase of 6.86 per cent, and the
average revenue tons per freight train mile were 373.29, an
placement of lighter sections.
West Side Junction to 29th Street,
cent in the expenditures under
property;
•
The
7 Mountain Type Locomotives.
5 Pacific Type Locomotives.
fi Mikado Type Locomotives.
afford
Way and Structures, although primarily the excess charges
went to the further upkeep and improvements of the physical
•
2 Scale Test Cars.
2 Yard Cranes.
mile (2.32 cents) remained substantially the-
same.
EQUIPMENT.
2 Clam-Shell
1137
CHRONICLE
THE
1913.]
,
B. F. BUSH, Presidents
CHRONICLE
THE
1138
MISSOURI PACIFIC
INCOME
RAILWAY
COMPAHY.
30 1913, COMPARED WITH PREVIOUS YEAR.
YEAR ENDED JUNE
ACCOUNT
(Vol. icvu.
Decrease.
Incrttfse,
1913.
1912.
Avirage Mileage Operated—
3,919.50
——
—-
3,916.29
3.21
.08
014,325 79
501,846 57
PerCt
Amount.
PerCt.
Amount.
10.78
Railway Operating Income:
Rail
Operations—Revenues:
'Freight---.*;
Passenger
_
V
—-
———
-—
_
- -—
—
,JPa^enger-—Other.
—- -
Express
y*
$20,528,497 50
■\ 5,155,913 86
83,777 08
.LwL+
;;
-
;
,
—*—
Miscellaneous.Total Revenue from
>(.■
Transportation---
Mail
--
Revenues.__1
---
—
758,134 80
676,249 55
607,737 19
-
+
Traffic Expenses.
Transportation Expenses
General Expenses
— ---
—
Total Operatirig Expenses.
Auxiliary Operations:
Revenue.
$214,164 06
5.32
$10,576 40
21.16
$25,792 15
31.43
207,434 00
10" 29
51,918 40
99" 90
$123,614 12
44.46
2,535" 60
27.97
12.65
3.67
$27,810,309 98
208,598 52
$24,209,197 83
191,937 03
t,601,112 15
16,661 49
14.87
8.68
$24,401,134 86
\,617,773 64
14.83
$626,292
32,089
492,153
> 1,409
14.82
4.45
$3,307,529 67
$2,679,993 32
81.03
$52,942 50
102 ,929 02
$19,996 26
9,419 86
37.77
9.15
82.60
112,348 88
$39,410 12
$49,986 52
$3,257,543 16
1,125,710 63
1,099.518 66
1,822,402 24
$2,158,024 49
$2,664,377 75
123.46
$360 00
72,940 35
37,508 36
82,060 29»
7,331 92
2,016,199,00
1,134,863 17
48,482 51
51,970 97
$1,800 00
500.00
22,397 35
17,055 65
30.71
"5",741 TO
78.30
427,895" 61
37.70
164.31
—
-
$2,160
95,337
54,564
56,268
13,073
00
70
01
14
02
1,808,765 00
1,562,758 78
128,141 85
.
Dividend Income.
Miscellaneous Income.
.....I.
—..
52 57
$3,721,121 07
Gross Income
!->
—_
,—
Hire of Equipment...
'
...
Miscellaneous Tax Accruals—
—
_
j-L
_
10
98
79
51
75
7,741,793 77
6,531 07
2,766 50
.....
—
...
Interest Deductions for Unfunded Debt
Miscellaneous Deductions.
....
i.......—.
j_______
Iricome
Credit Balance June 30 1912...
— .
_
_
.
Sold
$399,876 04
CONDENSED GENERAL BALANCE
1913.
De-
Accrued
Increase (+) or
Decrease (—).
1912.
Property Investment:
$
R6ad arid Equipment.:!..154,597,530 58
$
153,064,442 OS
$
+1,533,088 50
..4.,
43,026 26_.._ _
Total Road &Equip.l._154,554,504 32 153,021,415 82 £17533,088
30
_
_
Securities of Proprietary,
$238,065.72'
$2,695,716 53
to compare with the present year
:
.
50
56,040,000 00
1913,
-
.
14,311
101,690 76 296,385 91
1913-
—
103,490 13
..--.----$6,597,988 98
-----
COMPARED WITH PREVIOUS YEAR.
curities
of
Increase (+) or
Decrease (—).
Constituent
138,500 00
133,500 00
Total- Stock
+3,720,460 00
83,251,085 00
83,251,035 00
61,732,000 00 —11;300,000 00
>
+
v
5,980,932 77
---116,173,39277
*
*
—
■
■
m
.
...
■
I
.
—
■■
N
L
-
■.
■
■
:
,
Mortgage, Bonded and S3-
Funded
...
Debt:
cured
Debt:
7.438T59 30
Outstanding in Hands of
—1,457,226 53
125/210,159 30
25,528,276 05
—22,751 99
Property Invest't.296,233,421 15 303,759 851 17
—7,526,430U2
Other Investments, at cost 25,505,524 06
\
.
-i
.
.
.
;
.
Held in Treasury
and by
.
,
162,896,500 00 164,357,500 00
Public._^
—9,036,766 53
-
i
'
Total
;
.
,
Securities of Proprietary,
Total Securities.
with
$6,'*94,49855
$399,876 04
Companies-
-
Affiliated & Controlled
agree
*
turned—Pledged — 50,432,000 00
Cos.—Unpledged....
and to
■
»'
As-
3.00
,
V
Affiliated & Controlled
Companifts^—Pledged_ 59,760,460 00
or
4.14
LIABILITIES.
Stock:
1913.
1912.
Capital Stack:
82,702,585 00
Outstanding
82,702,585 00
In Treasury-.—
410,000 00
410,000 00
Stock Liability for, Conver¬
sion of Outstanding Se¬
Securities:
Issued
43
90
16
55
---.
43,026 26_
-----
61
59
22
67
Credit Balance June 30
SHEET JUNE
ASSETS.
'
■
8,475
2,680
2,807
307,782
Delayed Income Debits
Miscellaneous Debits
11,290 67
18,768 05
.
1.18
27.08
70.30
23.44
21.12
30 1913.
.
12000
Delayed Income Credits
$387 28
39,315* 62
Less—
"
Debt Disc't Exting. through Surplus
$2,128 so
Loss on Retired Road and Equipment 178,175 06
_
Miscellaneous Credits
24;
22
Brought forward
Credit Balance Transferred from InCome Account
.$369,697 32
Profit
on
Road
and
Equipment
-
52.30
36
36
$2,326,019 21
LOSS JUNE
$6,494,493 85
-
$2,933,782 25
—
7.80
$7,935,760 27
$369,697 32
-
50
u.
"27766" 50
June 30th 1912"have been revised
PROFIT AND
Securities
.
^8,173,825 99-
JFof comparative purposes, the figures for, the^year ended
the Classification of the Inter-State Commerce Commission.
prcciation—Credit
$32,709
278,009
145,174
12,056
11,439
13,293
7,434,011
9,066
154,395
184,489
20,531
14,120
16,100
L_:
Separately Operated Properties—Loss
Interast Deductions for Funded Debt..
Total Deductions.-
$33,096 52
... —
s
"$269,404
$5,609,741 06
—
Joint Facility Rent Deductions
Miscellaneous Rent Deductions "
45.47
79,659 34
$3,451,71657
$8,543,523 31
—
Dedv'etwis from Gross Income:
Deductions for Lease of Other Roads
—
■
'
.
Total Other Income
for
2.38
;
Income from Unfunded Securities, and Accounts.
Reserve
•.
$5,948,112 87
.
——
Income from Funded Securities.
_
44
$937,780 32
$2,690,569 72
26,191 97
.
r
4.51
4-35
0.17
$21,093,605 19
Not Profit from Miscellaneous Physical Property--.
Separately Operated Properties—Profit.—
Net
,
06
20
68
_
Iricome frbm Lease of Road—
iJoint Facility Rent Income
-1
Miscellaneous Rent Income,.
*
15
34
97
20
53
—
MailWay Operating Incoihe
,
$4,028,591
4,227,377
711,558
11,316,936
809,141
$22,031,385 51
—
Railway Tax Accruals—
dther incdme:
09
40
17
88
97
•
Net Railway*Operatihg ReVenhe——
v
$3,814 ,427
4,853,669
743,648
11,809,089
810,550
—
—
__
Net Deficit from Auxiliary Operations.
,
L
18:22
0.82
59
75,926 24
21,496 60
$72,938 76
—
•;—
...
Expenses—
"
$18,667 64
'""6,184
$5,987,522 99
---
—
Net Revenues—Rail Operations.
^
17.21
Operations-—Ex
Maintenance of Way and Structures..
/Maintenance of Equipment.
,
71
29
72
21
31
59
$28,018,908 50
------
■Nen-transportaiton Revenue
Total Operating
$17,514,171
4,654,067
102,444
751,950
600,323
586,240
—1,461,000
00
,
Trustees.—50,932,500 00
61,749,500 00 —10,817,000 00
Tot.al Mortgage, Bonded
" ,
■
:
'i
and Secured Debt..-_213,829,000 00 226,107,000 00 —12,278,000 00
,
Working Assets:
503,15091
Cash-.—
securities
<
1,477,067 31
—974,516 40
427,500 00
331,800 00
82,245 08
+483,000 00
+46,883 00
—17,974 93
Tot
Issqed or As¬
sumed—Held in Treas'y
910,500 00
378,683 00
64,270 15
Marketable Securities..
Loans and Bills Receivable
Traffic & Car Service Bal¬
ances
from
due
Balance
drie
Loans and Bills Payable..
Traffic & Car Service Bal¬
other
from
209,854 38
ceivable
1,080,537 02
1
St--Ixiuis Iron Mountain &
Southern Railway Co
Material arid Supplies
382,962 $0
—173,108 42
;928,487 70
,
,
1,932,105
—41,986 82
3,947,150 66
141,636 07
4,438,636 51
204,867 09
-491,485 85
—83,181 02
Liabilities.
152,073 75
117,483 53
151,771 25
274,648 71
—157,165 18
Slab's.
5,488,955 83
5,817,472 20
—328,516. 37
Accru'ed Liabilitres Not Due:
Unmatured
Interest,
Dividends & Rents Payable.^ .2,079,298 50
2,636,961 do
-2,662 50
Audited Vouchers & Wages
21
—871,568 19
Misc. Accounts Payable._
+ 16,713 29
Matured Interest., Divi-,
dends & Rents Unpaid-
4.562,289 '46
—527,509 90
Other Working
,
-
43,414 53
4,500,802 89
56,730 07
—874,201 73
—13,315 54
Total Working Assets.-
12,760,278 41
15,665,877 23
—2,905,598 82
+425,000 00
747,548 64
1,911,774 41
*4,034,779 56
3,626,601 16
Other Working Assets
425,000 00
_
Unpaid-
Agents and ConductorsMiscellaneous Accounts Re¬
.
due to other Cos.
705,561 82
ances
Corhpanies.;
Net.
.Capital LIabilities297,080,085 00 309,358,0,35 00 —12,278,000 00
Working Liabilities: :
Total Working
6.
+302 50
.
Accrued Income Not Due:
Unmatured Interest, Divi¬
dends & Rents Receiv'le
230,833 33
662,226 67
+431,393 34
Deferred Debit Items:
Advances
,
,.
.,
Rents and Insurance Paid
Total
6,506617
1,451,352 98
Deferred
Debit
_
*
Since
275,349 26
.
...
8,747 83
3,797,739 17
621,737 26
,,
r~2,241 16
-2,346,386.19
—346,388 00
reduced by
4.S97.226 47
-2,790,840 68
•12.791,476 18
payment of $1,550,000.
■
r..
50,420'60
__
Other DeferreUCfedit Items
38,157
+1'2« 71
165,*563 11
458,613
—293,050 15
*496,771 45
-r
Total Deferred Credit
Items
i
215:983 71
—
forofti and Loss:
Ralhnce.-j.Li-L—J6,597,688 9S
.
1
.
1,806^8$ 79
—95.825 33
21
311,462,312 02 324,253,788 20
Items
.Deferred Credit items:
Operating 'Reserves.
169,602
73,176 88
lii Advance.
Special. Deposits
Other Deferred Debit Items
.
.l
-
■
.
.
6,494,498 85
•
280,787 44
u
t..
4-i63;496 13
^11,462,312 02 '324,253,788 20 —12,791,476 18
O0T. 18
CHRONICLE
THE
1913.]
COMPANY
SOUTHWESTERN RAILWAY
ST, LOUIS
ft,
REPORT—FOR THE FISCAL
TWENTY-SECOND ANNUAL
Office of
'
..
Stockholders of the St. Louis
Mo.} September 2 1913. '
"
Mr. Edwin Gould, Chairman of the Board of Directors:
Dear Sir.—Herewith is submitted the Annual Reptrt of
the company for the fiscal year ended June 30 1913.
During the year the average maiin track mileage operated
was 1,609.3 miles, an increase of 61.1 miles over the preceding
year.
The main track mileage operated at the close of the
fiscal year, June 30 1913, was 1,608.5 miles, a decrease of ^ .7
miles over the main track mileage as of June 30 1912, which
is due to corrections in mileage figures heretofore used.
A detailed exhibit of the mileage operated on June 30 1913,
showing main line and branches separately, as well as mileage
in each of the States through which the company operates,
will be found in Table No. I of the appendix to this report.
In the condensed comparative statement, immediately
following, will be found the financial results from operation
for the year ended June 30 1913.
"
Southwestern Railway Co.:
present
Company, for
and General Manager.
CAPITAL STOCK.
-
value of capital stock Outstanding as of June 30
1913 was $30,500,000 ($20,000,000 preferred and $16,500,000
common), the same as at the close of. the preceding fiscal
The par
year.
'
'■
/
,
FUNDED DEBT.
debt
The funded
the
sum
was
of $1,541,000,
increased during the fiscal year in
explained as follows:
issued:
Expenditures
and
First Terpiinal and Unifying Mprtgage Bonds
For reimbursement of treasury on account of
and Advances made to Dec. 31 1912 for Additions
'
Betterments—Road
For new equipment—
22 Locomotives ____
10 Steel Baggage Cars
_
acquire $286,000 face amount
To
,7
,
it
7 ,1.-,,: A.
viz.: Series "B," face amount
outstanding).
i.-1 *
J
■
• I V v
.
656,000 00
286,000 00
'
'
'
.
Total
,
;
Deduct:
Equipment Trust Obligations paid off and canceled—
Series "B"—balance outstanding.$428,000
Series—with Pennsylvania Company for Insur¬
ances on Lives & Granting Annuities
(ma¬
tured notes) ____i— .L.V.34,000
ries *'A"—United Statea Mortgage & Trust
Co. (matured notes) ____________
— .
46,000
;
Net increase
this y.wr—-i
508,000 00
pages
*
.— —
... —
Income Balance
Transfer'd
• -
SOUTH TEXAS RAILWAY
property of the
Stephenville North & South Texas Railway Company, a line
Gatesville, Texas, to Stephenville, Texas,
with a branch line from Hamilton, Texas, to Comanche,
Texas, having a total main track mileage of 105.76 miles,
was leased by the "St. Louis Southwestern Railway Company
of Texas, and on and after that date was merged with and
will be operated as a part of this system.
Under the terms
of the lease, authorized by an Act of the Texas Legislature
passed in March 1913, that line was acquired for a period of
ten years, with the option of extending the lease for an addi¬
tional forty years, or the right to .purchase the railroad and
Railway
w
ADDITIONS
AND
Dr.
.1
*
of the
expenditures
This
appropriated from the surplus income
Company the sum of $163,110 61 on account of
heretofore
made for additions and betterments.
covered expenditures made from June 1 to Dec.
1911 from current funds, and no bonds have been or. will
issued therefor.
amount
DIVIDENDS ON PREFERRED
1913.^
.
80
T ,886:191 04
Income Account.
;
_
IS^ip 93
_;
Surplus:
_
Appropriations of Surplus for
Betterments
on
31
be
STOCK.
00
•
1II.
. .
.
.
52
$994,682 48
Additions and
"
Funded Debt Discount
163,110 61
_ .
Extinguished thrqugh
_I
... _I. J. _
220,110 00
1
Y- \ '»■.»!
,
I
■
Retired Road and Equipment:
...__J_.$9,926 23
Road
■'
33,659 34
Equipment.
Miscellaneous Debits.
_
Balance, Credit, June 301913,
Balance. Sheets---Total...
CariMd to General
4,873,53891
.....I..$6,304,126 77<$6,3Q442ft77
__
RAIL
43,585 57
9,099 2ft
........
_
OPERATIONS—REVENUES.
for the fiscal, year
increase over the previous
year of $1,254,406 88, or 10.42 per cent.
The net revenue
from operations increased $458,024 86, or 12.64 per cent.
Freight revenue increased $893,375 17, or. 9.96, pej eent.
General business conditions were very satisfactory during the
year and, with exceptionally good cotton, grain and fruit
crops, resulted in a very substantial increase in thq. tonnage
movement over the line.
;
^ • 1
• ■
Passenger revenue increased $317,190 51, or 13.78, per
The
total
from
revenues
operation
amounted to $13,296,949 59, an
cent, which is attributed to
the healthy business conditions5
prevailing during the year.
By reference to the "Profit and Loss" statement for the
current fiscal year (see subsequent page), it will be noted
that there was
+$268,572 00
$1,617,619 Of
STATEMENT JUNE 30
$20,000,000 deferred Stock—
1 J4 % payable Oct. 15 1912)
1X % payable Jan. 15 1913 $1,000,000
134 % payable Apr. -15 1913 J ^ ■
n ,+
134 % payable July 15 1913 j
Less Dividends on Stock held
by Company. 1
.1 J. A
5,317
extending from
OF SURPLUS FOR
BETTERMENTS.
v,'—:
.
.,
-
PROFIT AND LOSS.
Surplus
North & South Texas
L
—
Creditof Profit & Loss $1,886,191 04
Item—
..$1,938,414 50
1913, the railroad and
APPROPRIATIONS
+$596.225 49
+327,653 49
'■''>» hk
f.m
2,757,949 93
,,
Bala bee June 30 1912
88
302,200 00
247 62
COMPANY—LEASE.
property of the Stephenville
Company at any time.
$4,047,915 48
2,430,296 44
$4,644,140 97
'*•
.
Loss
Effective July 1
+$449.744 68
+146,480 81
On
[pamphlet], respectively.
STEPHENVILLE NORTH &
' 458,511 60
$3,150,071 76
897,843 72
'
Dividend Appropriations of
in the foregoing "Property Invest¬
be found in Exhibits "H," "I" and "J'?
31, 32 and 33
468,6^7 19
$3,599,816 44
1,044,324 53
Credit Balance Transferred from
Miscellaneous Credits
Details of the.increases
on
+$459,930 27
+ 1Q.+85 59
Inc.
_ _
ment" accounts will
$3,608,583 36
Gross Income...
Deductions from Gro§s
to
during the year $1,938,-
...
$1,905 41
63
Oper. Rev... $4,068,513
— __
00
,
this,year
$14,544 47
—
00
Equipment—
(After allowing due credit for equipment and other property
retired, and depreciation accrued on existing equipment,
during the year)__Jl1
.Zt—-$1,635,966
Increase
" $12,639 06
....
Railway Oper. Income._
Other Income.
_I_I_ _ ■
$1,541,000 00
(physical property)....
+$1,679 14
*—^226 27
Railway Tax Accruals....
Road and
Other Investments
$42,292 01
56,836 48
*
.
Securities
+$458,024 86
$43,971 15
56,610 21
Net Deficit
4
4
$3,623,127 83
.
00
PROPERTY INVESTMENT.
Property Investment increased
414 50, sub-divided as follows:
+796.382 02
$4,081,152 69
Expenses
Net Railway
——
71 +S1;254.406 88
8,419,414 88
Outside Operations:
428,000 00
'
.
4-61.1
9,215,796 90
Net Revenue.
.1. —._.$2,049,000 00
"
$13,296,949 59 $12,042,542
Revenues
Revenues
$428,._—
*
Rail Operations:
This Year
'1,548.2
1,609.3
•
i„
Terminal
1 _ .. _ .1. J _. L _ _
Unifying Mortgage),
* 4
operated
Railway Operating Income:
(+) or
Decrease, (—).
1912.
June 30 1913. June 30
Item—
of First Refunding and •
Railway Co....'JI. . J. II. . IT.II.'.1 _
To retire Equipment Trust Obligations of your Company
outstanding Jan. 1 1912 (date of First Terminal and
,000 (balance
Increase
Year ended
Year ended
Average miles
J 201,000 00
YEAR.
STATEMENT FOR FISCAL
INCOME
$679,000 00
of the Gray's Point
Extension Mortgage Bonds
SYSTEM.
"
■
Combination Baggage $ Mail Cars.
10 Steel
t
OPERATION—ENTIRE
FROM
FINANCIAL RESULTS
$455,000 00
.
St. Louis,
:
herewith the Twenty-second Annual Report of
the fiscal year ended June 30 1913.
Details of revenues, expenses and other results from opera¬
tion and the work of improvement are embraced in compre¬
hensive form in the accompanying report of the President
I
your
and General Manager.
Office of the President
f
the Board of Directors.
V:
New York, September 15 1913. /
Chairman of
To the
YEAR ENDED JUNE 30 1913.
AGRICULTURAL AND
The
^;
—
INDUSTRIAL.
steady and healthy growth of the territory contiguous
is manifested by the agricultural activity prevail¬
to this line
ing generally.
As timber is cut out, the
tive land is being converted into farms,
are taking the place of forest, products.
resulted in
more
and better schools,
fertile and produc¬
and farm products
This activity has
improved streets and
sanitary conditions in the cities and towns, an improvement
in drainage, the construction and improvement of county
a general betterment in living conditions.
peach crop of 1912 was the greatest in the history of
that industry in East Texas; about 2,730 cars being handled
by this line.
Corn and cotton were above the averagAKoth
roads and
quarterly dividends of 1)4% each (aggregating 5%)
were declared by the Board during the fiscal year; payable
Oct. 15 1912, Jan. 15, Aprill5 and July 15 1913.
Tha thanks of your company are due, ajid are with pleas¬
ure hereby extended > to its officers and employees for their
Four
loyalty and hearty co-operation
during the past fiscal year.
For the Directors,
•
a
EDWIN GOULD, Chairmar\.
The
in
yield and; quality.
boll-weevil
was,
„
The damage to the eotton crop fpni
but the. mjury
in most sections,"very light,
from the fall, army worm was considerable in several Ideal¬
ities, although the fanners are learning, to employ
^
to combat
this pest.
\
1140
THE
The cultivation of rice in Arkansas
unusual attention and there has been a
continues
...
19 0
CHRONICLE
to receive
steady increase in the
acreage of this commodity since its original introduction in
that State a few years back.
The success of this industry
is in many instances
phenomenal, some of the yields during
the past year averaging as
high as one hundred bushels per
acre.
The cost of production is comparatively light and the
margin of profit exceptionally large.
The acreage devoted
to rice in Arkansas
during the past season was reported as
86,000 acres, and the estimate for the ensuing season " is
approximately 100,000 acres. Many rice planters are prac¬
ticing crop rotation and devoting considerable of their rice
Department
is giving
special attention to educational work amongst farmers along
the line.
This work is being conducted in the form of per¬
sonal visits to the farms,
by holding farmers' meetings, pub¬
lishing special bulletins and operating demonstration cars,
all in co-operation with the United States
Department of
Agriculture and the local agricultural colleges and -experi¬
mental
stations.
Methods
of
changing from the all-cotton and
cultivation
gradually
are
system to diversified
corn
Average load, in tons,
per
St. L. S.-PT.
Ry. Co.
387.65
385.02
1905
1906
1907
1908
—
425-92
407.61
1909
394.23
434.16
423.70
1912—_,r
447.25
461*11
—
1913
——
St. L. S.-W.
Entire
Ry. Co. of Tex. System.
V
415.15
—
xcvii.
train (including company material).
Year ended June 30—
1904
^
lands to general farm
crops.
The Agricultural and Industrial
[Vol.
172.20
284.72
177.33
194.49
202.81
189.99
190.34
196.27
295.50
315.06
323.35
311.19
301.61
326.11
320.16
200.04
211.19
,340-58
349.49
214.50
EQUIPMENT.
following equipment, contracted for during the preced¬
ing year, was received during the current year: 18 consoli¬
dated locomotives, 4
mogul switch engines, 10 Steel baggage
cars and 10 steel
combination baggage and mail cars. This
equipment was paid for from the proceeds of sale of First
Terminal and
Unifying Mortgage Bonds issued for that pur¬
The
pose.
,-y;..
During the fiscal
year
there
were
purchased for cash, and
built at company
shops, from current funds, equipment as
follows:
2 official cars, 5 automobile
cars, 22 cabooses, 29
box cars, 2 stock cars, 6 flat
cars, 1 ballast car, 30 air dump
This is due to the various educational influences, cars, 2 wreckers, 1 Lidgerwood
unloader, 2 boarding cars, 1
as to the introduction of new
people from the older dirt spreader, 1 steam wrecker,, 3 wreck tool cars, 1 motorfarming sections of the country, who bring with them im¬ gas car and 1 school-of-instruction car.
There was contracted for under trust
proved equipment and advanced ideas of cultivating the soil.
agreement with the
The industrial development has
kept pace with the agri¬ Philadelphia Trust, Safe Deposit & Insurance Co., executed
cultural and general business development, and a number June 1 1913, 10 consolidation locomotives, 10 ten-wheel locoof new industries have been located
along this line during .motives, 3 steel underframe dining cars, 2 steel underframe
the past year.
parlor cars and 200 general service steel underframe coal cars.
crops.
as well
.
KATE
LITIGATION.
The rate litigation with the State of
Missouri, in which
this company with seventeen other Missouri
carriers, con¬
tested,
the grounds of confiscation, the validity of an Act
of the Legislature passed
February 27 1907, fixing a maxi¬
mum
passenger fare within the State of two Cents a mile,
and
on
192
year;
2
Likewise the rate litigation with the State
of,Arkansas,
in which this company and the St. Louis Iron Mountain &
Southern Railway Company, contested,- on the
grounds of
confiscation, the validity, of an Act of the Legislature
passed, on February 9 1907, fixing the maximum passenger
fare within the State at two cents
per mile, and Standard
Distance Tariff No. 3 promulgated by the Railroad Cormmission
of
Arkansas
prescribing maximum intra-State
freight rates for all classes of commodities, was, on June 16
1913, decided adversely to the two companies by the Su¬
preme Court of«the United States.
In conformity with
the mandate of the Court, the
passenger, and freight tariffs
of the company haye been revised and a
two-cent-per-mile
passenger rate and the freight rates promulgated by the State
Commission
are
now
in effect.
*
,
It is
difficult, at this time, to estimate to what extent the
revenues of tlm
company will be affected by the foregoing
decisions, but it is hoped good cotton and other crops, with the
attending stimulus in business, will in a large measure offset
the losses resulting from these rate reductions.
Furthermore,
it is believed that this
company and other carriers similarly
situated will at
future time be able to produce evidence
sufficient to convince the State authorities of the
inadequacy
of the rates prescribed
by them, which rates are in effect
under protest of the carriers.
;
\
some
.
RAIL OPERATIONS—EXPENSES.
During the fiscal year ended June 30 1913 the total expenses
of operation show an increase of
$796,382 02, or 9.46 per
oent, as compared with the preceding year.
The per cent of
expenses of operation to revenues from operation was 69.31
per cent, as against 69.92 per cent for the
preceding year, or
decrease of .61 of
one
per
cent.
•
.
,
The general operating expense accounts show
over the
preceding year as follows:
'
\
.
,
Maintenance of Way and Structures.
Maintenance Of Equipment
Traffic
$422,414 37
_______
or
28.60%
47,120 44
29,740 40
or
2.17%
6.21%
295,270 78
1,836 03
_
Expenses
Transportation Expenses
General Expenses
increase
an
or
...
______
____
or
or
'•
ADDITIONS AND BETTERMENTS.
Expenditures for Additions and Betterments—Road, dur¬
ing the current year amounted to $1,372,990 73 and for
Equipment, after allowing for value of equipment retired,
$716,134 75, making the total amount expended for addi¬
tions- and betterments during the year
$2,089,125 48.
The work of double tracking certain
portions of the line
between Illmo, Mo., and Paragould, Ark., is under
way, and
at the close of the fiscal year
7.4 miles of second track had
Likewise the work of extending all
passing tracks between these points is also in progress. These
been placed in service.
extended
passing tracks will, in the future, be available
parts of the second main track.
Rock view, a
TRAIN AND CAR LOADING.
following tables show the average load per freight train
and per loaded freight car for the
past ten years.
Average load, in tons, per loaded
car
(including company material).
St.L.S.-W.
Year ended June 30—
1904
1905
1906
1907
1908
St.L.S.-W.
Ry. Co.
Entire
Ry. Co. of Tex. System.
18.29
a
distance of 7.4 miles, is used by the St. Louis
distance of 102.9 miles, by the St. Louis Iron Mountain &
Southern
Ry. Co. under joint trackage agreements.
These
portions of the line accommodate a heavy traffic movement
and the completion of this work, now under
way, will greatly
facilitate the operation of trains thereon.
The
exhibit styled
"Property Investment—Road and
Equipment" oil page 31 (of pamphlet report) shows in de¬
tail the .expenditures for additions and betterments during
the current
fiscal
NEW BRIDGE
year.
OVER
1910
'
1911
,
-
1913
.-
—
MISSISSIPPI
RIVER AT
the execution of which was authorized
by the Board of Direc¬
special meeting held on April 28 1913, each of the
three companies agrees to subscribe in equal proportions to
the capital stock of the new Bridge Company.
The con¬
struction, maintenance- and operation of this bridge was
authorized by Act of Congress July 20 1912, amended Aug. 23
1912.
Property for the approaches has been acquired, pre¬
liminary plans have been drawn, work has been commenced
aiid the bridge-will be pushed "to completion as rapidly as
possible.
tors at
a
.
FREIGHT HOUSE, TEAM TRACKS, ETC., AT
ST.
A
LOUIS, MO.
freight house and auxiliary facilities at St. Louis,
Mo., were completed and placed in service Jan. 11913.
The
completeness of these facilities and their accessibility to the
shipping public has already resulted in a substantial traffic
increase to and from the City of St. Louis.
new
NEW PASSENGER TERMINALS AT DALLAS, TEXAS.
Franchises have been obtained and property secured by the
Union Terminal Company, Dallas, Texas, for the purpose of
17.43
17.43
constructing
16.63
18.13
The
19.25
1909
THE
The Arkansas & Memphis Railway, Bridge & Terminal
Company has been organized for the purpose of constructing,
maintaining and operating a double-track railway and high¬
way bridge over the Mississippi River at Memphis, Tenn.
Under a contract between the Chicago Rock Island & Pacific
Railway Company, St. Louis Iron Mountain & Southern
Railway Company and this Company, dated May 14 1913,
18.79
19.01
—
—
;/
MEMPHIS, TENN.
15.62
15.54
17.34
16.67
16.89
17.30
16.44
16.44
18.19
-
-
as
The line between Illmo and
Iron Mountain & Southern ty. Co. and the
Chicago & East¬
ern Illinois RR.
Co., and between Rock view and Paragould,
In Exhibit
The
cars are
the 200 general service
to be delivered during October
1913.
7.89%
0.33%
"B," on pages 26 and 27 [of pamphlet report]
will be found a comparison of
operating expenses in detail,
by primary as well as by general accounts.
the
steel underframe parlor cars and
steel underframe coal
Act passed
an
March 19 1907, prescribing maximum
intra-State rates on certain specified commodities in car¬
load lots, was decided by the
Supreme Court of the United
States on June 16 1913,
adversely to the Company. The
passenger and freight tariffs of the Company have been re¬
vised to comply with the mandate of the Court and the twocent-per-mile passenger rate and the freight rates promul¬
gated by the State Commission are now in effect.
a
Of this equipment, there was delivered and received
up to
June 30 1913 the 3 steel underframe
dining cars; the locomo¬
tives have been received since the close of the fiscal
17.06
17.84
18.58
18.78
18.02
18.36
,
»
-
,
-.
-
18.40
18.69
17.49
18.14
18.32
17.54
-17.78
new
a union passenger station and facilities therefor.
terminal company has been organised by all lines
entering the City of Dallas.
The St. Louis Southwestern
Ry. Co. of Texas owns a one-eighth proprietary interest in
these new terminals and will make use of the facilities when
completed in the operation of its passenger trains to and from
Dallas."^'
*™~r"
--™- r—- -
*
©ox.
Deductions
preceding annual report, a desirable loca¬
has been obtained on which to
construct a freight house, team tracks, etc.
Grading has
been commenced and construction work is now under way
As stated in the
tion in Fort Worth, Texas,
these terminals.
on
; +
■
■
13,296.949 59 12,042,542 71 + 1,254,406 88
9,215,796 90
+796,382 02
3,623,127 83
42,292 01
56,610 21
56,836 48
J
12,639 06
14.544 47
—1,905 41
Operating Revenue4,068,513 63
Railway Tax Accruals
-.
468,697 19
3,608,583 36
458,511 60
+459,930 27
+10,185 59
Railway Operating Income 3,599,816 44
;
3,150,071 76
Dividend
206,633 31
+6,757 91
Loss on
600 00
600 00
+25 00
$994,682 48
163,110 61
95,620 99
469 66
74,228 47
1,947.92
+21,392 52
—1,478 26
1,044,324 53
897,843 72
+146,480 81
4,644,140 97
4,047,915 48
$9,926 23
-
.
•
"
30 1913, Carried to
•
—33,-659 34
...
....
.«
Miscellaneous Debits
+596,225 49
220,110 00
Discount
Retired Road and Equipment:
Debt
■
v
-43 »585 57
1
■
.
9,099 20
General Balance Sheet -4,873,543,91
-..-.--$6,304,126 77
Total...
Ac¬
Income
Total Other Income......
Gross
5,317 52
+19,247 60
counts.......
Miscellaneous
,
.
Road
Un¬
and
$1,000*000 00
Additions and Betterments—
Extinguished through Surplus
Balance, Credit, June
78,726 64
97,974 24
from
DEBIT.
Stock Held by Company..
Equipment
+4,225 35
.
25 00
Securities
^
-
.
of Surplus:
1^1% payable Apr. 15 1913
1V\% payable July 15 1913
213,391 22
4,225 35
STATEMENT—ENTIRE SYSTEM.
7;.,.
+V
Funded
.....
Income
+268,570 00
$20,000,000 Preferred Stock—
1M % payable Oct. 15 1912
->---1
1M % payable Jan, 15 1913.——.—..
+96,310 69
Income
funded
1,617,619 04
Appropriations of Surplus for
Interest Income from Funded
Interest
1,886,191 04
to
On
531,747 38
Property....
Securities... j
+327,654 49
of Profit and Loss
Dividend Appropriations
3,960 00
frofit -Miscellane¬
Physical
2.430.296 44
JUNE 30 1913.
628,058 07
....
Profit
ous
—30,625 56
—1,198 25
2,757.949 93
Transferred
Balance
Credit
3,960 00
Joint Facility Rent Income..
Miscellaneous Rent Income.
.
Income
Less Dividends on
Other Income:
Income from Lease of Road.
Hire of Equipment—Credit
Net
35,835 46
4,237 34
*
Deductions—.
Deductions.
Total
+449,744 68
Balance
5,209 90
3,039 09
Debt
funded
—226 27
—
Net Deficit
:
'
+245.725 04
Deductions for Un-
Interest
PROFIT AND LOSS
—
Net Ry.
;
—3,042 39
1,975,601 63
for
+1,679 14
Operations:
A
Expenses
5,045 53
-
+458,024 86
43,971 15
Net Revenue-,———
8,419,414 88
4,081,152 69
-
Revenues.
+77,531 42
2.003 14
2,221,326 67
tions
This Year.
$
$
$
,
—
+39,263 23
Deduc¬
Rent
Miscellaneous
Decrease (—).
Year ended
Year ended
June 30 1913. June 30 1912.
ITEM.
Expenses
65,945 09
343,631 39
-
Deduc¬
Rent
Facility
tions
Increase (+) or
Railway Operating Income:
Rail Operations:
Revenues
105,208 32
421,162 81
Roads
Joint
Miscellaneous
'
■
Outside
SYSTEM—YEAR
30, 1913.
ENDED JUNE
Gross Income:
Other
from
Deductions for Lease of
Interest Deductions
Funded Debt..
y.
STATEMENT—ENTIRE
INCOME
$4,644,140 97 $4,047,915 38 +$596,225 49
Brought forward
AT FORT WORTH, TEXAS.
FREIGHT TERMINALS
1141.
CHRONICLE
THE
181913.]
Income
CONDENSED GENERAL BALANCE
Balance June 30 1912
Miscellaneous
$4,402,584 80
1,886,191 04
15,350 93
-
-
Transferred from Income Account—
Credit Balance
Credits
Total
_____—$6,304,126 77
-
—-
SHEET—ENTIRE SYSTEM—JUNE 30 1913.
prescribed by the Inter-State Commerce
(Form
Credit.
.
Commission, effective June 15 1910.)
LIABILITIES.
ASSETS.
(+)
or
Decrease (—).
This Year
Total.
■
Property Investment:
Equipment—
June 30 1907
+ Investment since June 30 1907—
to
$78,866,536 53
- - - - -—-10,989,428 95 +$2,089,125 48
...
$89,855,965 48
Depreciation on
Existing Equipment—Cr
Reserve
for
Accrued
2,275,337 46
' .w/'-
Securities:
Securities of Proprietary,
Affiliated and
,
|
$2,573,995 45
12,504,333 20
+$286,000 00
36,203 00
+16,200 00
+$302,200 00
$11,103 16
Companies—Pledged
Total
+$247 62
Other Investments:
Miscellaneous Investments..
—
!
Working Assets:
$1,554,656
*
1,215,250
756,333
209,398
—
Issued
Treasury
Marketable
or
Assumed—Held in
.1.
....
Securities
Loans and Bills Receivable
;
Traffic and Car-Service Balances
Due from Other
+7,15.000 00
+54,500 00
+ 199,365 92
37,428 99
+21,035 98
i
96,394 41
798,049 15
1,549,709 79
-
...
Supplies.
Other Working Assets
.
16,807 95
>,234,029 17
Total.
—172,702 63
+2Q2.044 85
—2,998 59
v
—$736,451 10
5,085 54
$1,964,397 19
23,478 14
476,703 97
2.
Advances.
Rents and Insurance Paid in Advance.__
Other Deferred Debit Items
;
.......
+ $682,651 49
—4,671 46
$2,464,579 30
16,356,100 00
$16,500,000 00
Preferred Stock—
by Company—Un¬
pledged
Held
$106,350 00
19,893,650 00
Not held by Company
20,000,000 00
$36,500,000 00
Mortgage, Bonded and Secured
Debt:
Funded Debt-
Mortgage Bonds—
Held
$965,000 00
50,416,759 00
by Company—Unpledged
Not held by Company:
$8,737,333 86
+$715,000 00
+ 1,334,000 00
Income Bonds—
Held
by
Company—
...$6,957,500 00
3,042,500 00
Pledged..
+ 119,808 36
6,072,833 20
Debt.j.
+$1,541,000 00
Bonded and
Total Stock, Mortgage,
Secured
-508,000 00
$67,454,583 20
Total
$103,954,583 20 +$1,541,000 00
...
Working Liabilities:
+22,995 54
5,79154
34,161 92
+5,791 54
—11,297 70
$1,545,359 24
—$11,544 71
$480,486 65
214,193 35
3,497 29
—$256,178 02
$698,177 29
Interest,
—$3,676 04
—25,358 05
343,760 15
Miscellaneous Accounts
$947,204 76
214,440 87
—$240,268 85
$208,827 44
+$68,415 09
$2,452,363 97
—$183,398 47
$163,110 61
+$163,110 61
Unpaid
Audited Vouchers and Wages
Payable.
Dividends and Rents
Unpaid
Other Com¬
;
...
Total
•
Accrued Liabilities,Not' Due:
Unmatured Interest,
Dividends and Rents
Payable
Taxes Accrued
+$797,788 39
10,000,000 00
Equipment Trust Obligations—
Held
by
Company—
Pledged....
$5,546,833 20
Not held by Company.
526,000 00
"
;—
+ 12,411 88
'
Operating Reserves.
+3,497 29
i
Total
Total Working, Accrued and Deferred
Assets
$143,900 00
,
Working Advances Due to
panies.
Other Working Liabilities
$38,725 39
-
Deferred Debit Items:
Total.....
pledged
by Company
—
•
...
Company—Un¬
Not held
Matured
Accrued Income Not Due:
Unmatured Interest, Dividends and Rents
Receivable
:
Stock—
by
+23,089 41
Con-
Miscellaneous Accounts Receivable
Materials and
-$1,775,786 04
00
72
88
Held
Not held by Company.
28
(Net)
Companies
Net Balance Due from Agents and
ductors
—
$102,706,262 83 +$1,938,414 50
Total Property Investment
Cash.
Stock:
Total."
$15,114,531 65
Controlled
Securities Issued or Assumed—Pledged
Securities of Proprietary, Affiliated and
Controlled Companies—Unpledged..
Securities
+453,158 60
$87,580,628 02 +$1,635,966 88
Total.........
»
+$2,089,125 48
'
Total.
Common
Road and
Investment
(+) of
Decrease (—).
This Year
Increase
Increase
■'
+$53,251 75
Deferred Credit Items:
Other Deferred Credit Items
and Deferred
Total Working, Accrued
Liabilities
Appropriated Surplus:
Additions to Property since June
30 1907,
through Income
Profit and Loss:
$4,873,538 91
+$470,954 11
.$111,443,596 69
+$1,991,666 25
Balance
T»t»
$111,443,596 69
Assets...
+$1,991,666 25
Total
Liabilities
The St. L. S.-W. Ry. Co. is guarantor
and interest, as the same matures (if default
Note 2.—Bonds Guaranteed:
stated,
represents a consolidation of the general balance sheets of -the St. Louis
Southwestern Ry. Co. and the St. Louis Southwestern Ry. Co, of Texas.
In stating the assets and liabilities of the system, the holdings of the
St. L. S.-W. Ry. Co. in the bonds and capital stock of the St. L. S-W. Ry.
Oo. of Texas, together with the loans and advances made as between the
two companies, have been eliminated from the liabilities, and a like reduc¬
tion made in the assets pertaining thereto.
The figures shown, therefore,
represent the book value of the assets and liabilities of the system, without
Note 1.—The Genera J Balance
duplication.
,
•
..
Sheet—Entire System, as above
the payment of the principal
of
In
payment be made by the issuing companies) of the following securities:
Gray's Point Terminal Railway Co.—Mortgage Bonds
$1,186,000 00
Central Arkansas & Eastern RR. Co.—First Mortgage Bonds 1,085,000 00
Shreveport Bridge & Terminal Co.—First Mortgage
Bonds..
Terminal RR. Assn. of St. Louis—General Mortgage
Bonds—
1-15th Of $21,458,000—
— I
Memphis Union Station Co.—Collateral
of $2,100,000
»
Gold Notes—l-5th
420,000 00
„
Stephenville North & South Texas Ry. Co.—First Mtg.
,
450,000 00
1,430,533 33
i
Bonds 2,423,000 09
:
■—
H4?
[VOL.XCVH.
COTTON.
^Ixjc ©etmumial Jimcs,
'
'
:
*
Friday Night, Oct. 17, 191S.
"
THE MOVEMENT OP THE CROP, as indicated
Friday Night, Oct. 17 1913.
.'•• There is still some irregularity in trade, owing partly to
uncertainty as to the effect of the tariff.
The agitation in
by our
telegrams from the South to-night, is given below.
For the
week ending this evening the total
receipts have reached
485,092 bales, against 408,848 bales last week and 416,299'
regard
bales
COMMERCIAL EPITOME.
V
'
'
'
b.
the Currency Bill is
also not without some
Commodity markets have been less active and
generally lower.' Conservatism is very noticeable in various
parts of the country.
Securities, have been depressed; The
Mexican situation is again attracting attention as a more or
effe^C
less
to
the previous week, making the total receipts sinceSept. 1 1913. 2,325,219 bales, against 2,315,432 bales for the
.
threatening factor.
The exports of
corn
period of 1912, shewing an increase since Sept.. 1 1913 *
same
of 9,787 bales.
*Lr.
for the week
the smallest in years, and thus far this season they are
noticeably smaller than during the same period in 1912.
There is a pretty good fall trade, but business for next spring
is only fair
Collections are somewhat better and money is
active.
Wheat exports are large.
were
LARD
has
Sat.
Texas
Pt.
for
Continent
•
Sat.
delivery._qfcs.10.62H
November delivery____ 10.65
January delivery..10.50
May delivery...—_—10.70
Mon.
Tues.
Holiday.
10.45
10.47H
10.40 *
--
-
10.60
Wed.
Thar.
10.30
10.32^
10.32Jij 10.32t£
10.25
\10.32H!
10.42 H 10.471$
5,346
2", 130
6,400
8",247
7",308
12,283
12,464
10,406,
7,581
55,388
2",548
m
1.136
r.89,6
4,097
18",267
1,754
5,500
1,754
5.50Q
Savannah
20",227
_
Brunswick
2,175
.....
24",550 96,661
20",726
'•4 <
*
■
imk
'■ ? '
_____
Charleston
5,968
6",391
6",303
4~,928
3,047
5,364
32,001
3",558
....
Norfolk
3",591
3",981
5;072
5,373
6,442
4,827
2,705
3,847
3,920|
3,174
1,340
26,402
22,852
-1,349
6,603
6,603
N'porfc News, &c
New York
...
""89
""37
Totals
.
"50
"soj
Baltimore
Philadelphia
j
"
Boston
BORK steady; mess $23 75@$24 25, clear $20@$21 50,
family $24 50@$26.
Beef firm; mess $18@$19, packet $19
@$20, family $20 @$22.
Extra India $28 @$30.
Cut meats
easier; pickled hams, 10 to 20 lbs.,. 14M@14%c.; bellies,
eleajr, f.o.b. New York, 0 to 12 lbs., 14^@15Hc.
Butter,
creamery extras, 303^@31c.
Cheese, State whole milk, color-
22,564 128,580
23,700 23,700
2,764
Georgetown
Wilmington
> Fri. ■
10.32J^
10.35
10.2713
10.4213
Total.
Fri.
18.513 133,083
2,920 21,140
16,979,
8",247
City,..
Pensacola
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
•••
2,147
Thurs.
Wed.
23,687
4,719
Jacksonville, &c.
Brazil
October
33,545
Arthur..r.__
Pass,&c.
Np\v Orleans.".
Gulf port
Mobile.........
been
the
Tucs,
22,981
Aransas
quiet with prime Western $11 20, re¬
$1140', South America $12 05,
$13 05.
Lard futures have been fairly active at
lower prices.
At one time packers were the largest sellers.
Hogs have been declining.
On a single day the Western
receipts amounted to 90,000, against 75,000 last year.
fined
Mori.
17,378
2,779
Galveston
....
60,239
ttpsjveek
98,285!
81,504
75,538
57,387
"226
112,139J485,092
The following shows the week's total receipts,
the total
since Sept. 1 1913, and the stocks to-night, compared with
.
last year:
1913.
1912.
Stock.
Receipts to
Octooer
51c.;' boiled 5l@52c.; Calcutta 70c.
Cottonseed oil rather
steady and in fair demand, owing to a better tone in the pro¬
vision marke s and some covering by refiners.
Winter
7@8c.; summer white 7@8q.; Cochin 13K@13^c.J.Ceylon
ll%@113^c.;
34,591
1912.
1
1913.
158,826
55.312
1912.
176,304
7,580
24,426
32,714
155,380
24,426
884
55,388
345,650
66.004
"
"
l",478
2,08i
81,412
106,8101
*
Mobile
18,267
5,500
1,754
128,580
23,700
32,001
Savannah _1_
_
_
_
_
Brunswick
Charleston
12,974
48,625
33,414
T.308
'""753.
16,500
3,695
2,860
337,816
69,200
161,529
10,905
25,484
10.5,095
79,728
145,828
r6,263
46,355-
25", 991
113",434
31,694
18,347
33,628
1.863
100,238
4,317
20,977
42,431
17,969
122,296
66.971
4,153
49", 409
1,206
81,361
90.484
14,209
6,11.5
598,366
106,400
173,411
26",402
Pensacola
127",508
"
*
Georgetown.....
Wilmington,.---
.
N.-rfoik'.
22,852
1.349
N'port News, &c_
York...
New
—
"226
Baltimore.
'
•48
.
"154
1,165
2,127
4,954
3,158
2,590
4,469
485,092 2,325,219 500,942 2,315,432
650,329
Boston..
1,226
17,112
6,603
__i
Philadelphia
....
Totals...,
1.593
4.960'
6.757
954.151
In order that
we
comparison maj be made with other years,
give below the totals at leading ports for six seasons:
1913.
1912.
133,083.
29,387]
182,064
55,388
18,267!
128,580
23,700
14,083'
55,312
12,974
81,361
16,500
25,484
25,991
33,628
1,863
3,487
485,092,
500,942
Receipts at-7
Galveston
Texa§City,&c
•
New Orleans-
Mobile.
Savannah
Brunswick
wp£k apd 30,000 in the
same time last year.
The stocks are
estimated at 181,280 tons, against 97,211 last year and 79,879
two years ago.
Granulated 4.15c.
*
PETROLEUM steady; barrels 8.70@9.70c., bulk S@6e.,
_.
_
Wilmington..
26,402
Norfolk.....
22,852!
1,349!
1910.
1911.
141,155
43,028
44,065
18,766
119,260
23,200
19,063
29,250
30,392
62.278
32,001!
Charles ton, &c
.
1909.
1908.
166,263 *105,307 "156,893
35,215
19,453
11,598
51,333
74,897
68,780
15,046
14,047
15,734
80,953
115,108
80,691
8.153
22,700
9,482
21,891
16,113
14,182
26,007
26,611
25,055
37,576
37,115
25,151
146
328
289
114
5,207
9,187
19,259.
12,013
473,532
451,952
450,899
419,621
SincqSept. 1. 2,325,219 2,315,432 2,499,323 2,128,451 2,406.810
3AM, 454
N'port N., &c
All others
cases
ll@12c.
Pennsylvania dark, $2 50; second sand,
$2 50; Tiona, $2 50; Cabell, $2 07; Mercer black, $2; New
Total tl\is wk.
Castle, $2; Corning, $2; Wooster, $1 91; North Lima, $1 39;
South Lima, $1 34; Indiana, $1 34; Princeton, $1 39; Somer¬
set, 32 degrees and above, $1 35; Illinois, $1,30.
Naphtha,
73 to 76 degrees, in 100-gallon drums, 24^c.; drums, $8 50
extra.
Gasoline, 86 degrees test, 29Kc.; 74 to 76 degrees,
254 60 to 70 degrees, 2234c.; stove., 21c.
Spirits of tur¬
pentine, 43@4334c.
Common to good strained rosin, $9 30.
TOBACCO has been in fair demand and steady.
Maiiur
facturers are parrying small stocks.
Their supply of the
bettor grades of binder are especially scant.
At the same
time there is an excellent demand for cigars.
It looks as
though there will be only a moderate supply at best of New
\
The exports
for the week ending this evening reach a total
bales, of which 155,122 were to Great Britain,
46,178 to France and 177,380 to the rest "of the Continent.
Belpw are the exports for the week and since Sept. 1 1913.
of 379,130
Week
ending
Oct.
17
1913.
From
1
Sept.
Exported to—
1913 to Oct.
17
1913.
Exported to—
Expoft?,
'
from—
Great
•
„
'
Conii-
Galveston...
Texas City.
filler
tobacco.
It was damaged by frost.
higher prices are demanded bv farmers,
owing to the damage done to the crop by recent bad weather.
For Sumatra there is only a light demand, but Cuban leaf
meets with a fair sale at firm quotations.
COPPER has latterly been firmer after some recession.
Lake on the spot 16^c.; electrolytic
16%@1634c. Both
domestic and foreign markets are stronger, partly
owing to
a strike att he Rio Tinto mines.
London prices have advanced
sharply.
Tin on the spot40.45c., with a stronger tone, Lead
on the spot 4.40c. Spelter 5.30c.
Pig iron has been in rather bet-
Ar.Pass.&c.
Orl'ns
New
63.35S
19,227
8,806
15,465
30,163
12,405
45,836
14,643
12,405
5,500
78,857
8,509
58,216
25,499
65,247
Brunswick
Charleston
Wilm'ton
39,198
19,554
6,227
22,691
33,144
47,208
4",403
51,903
"2,709
1,709
15,872
"V, 500
.
.
__
54,734
11,401
12,722
9,513
20,718
253
York,
Boston
5,108
1,706
3,221
Baltimore
5,653
"
"
l",809
5,001
100,368
55,158
18,305
8,081
nent.
295,463
2,737
Total.
225
14,732
25,670
35,849
5,753
10,761
1,706
10,031
14,300
11,049
10,500
France.
258,215
30,231
2,350
23,320
5,500
Norfolk
Britai.
7,130
9,514
.
Savannah..
New
82,574
32,061
12,405
.
Conti¬
Total.
43,426
39,148
32,061
7,139
5,184
Mobile
Pensacola
Great
runt.
Brtiain. France.
It is noticeable that
654,046
74,901
19.452
30,079
90,553-
6,550
5,706
155,669
62,322
556
"
33,687
14,209
279,132
87,821
72,342
89.453
6,783
111,464
20,014
26,662
100
100
Fran,.
4,527
4,527
21,943
Pt .Towhs'd
5,803
5,803
11,578
7,140
21,943
11,578
,621,185
Philadel'ia
San
,
Tot^p — 155,122
Total
1912,
995
6,145
46478 177,830 379,130
177,470,' 51,092 "95,683
more
646,260
231,272
743,653
323,252/" 718,583
229,599
53S,65811,4£6,8i(>
jyote.—K. Y. exports since Sept. 1 include 4,957 bales Peruvian to Liverpool.
.
Sep
....
Jacksonville,&c._
Raw steady; centrifugal, 96-degrees test, 3.48c.
89-degrees test, 2.98c.; molasses, 89-degrees
test, 2.73c.
Atlantic port receipts for the Week were 17,362
tons, against 22,355 in the previous week and 30,363 last
year.
The meltings were 20,000 tons, against 35,000 last
-
Week.
8",247
New Orleans
SUGAR.
o| (ess weakness.
Bars have sold, if is said, in the Chicago
district at under 1.40c. Pittsburgh basis.
There has been
nonbusiness here ip foreign bars.' Keener competition for
business: however, is noticeable inthe sales of plates, at 1
35c.",' Pittsburgh basis.
- • '
• y
•*-
Since
848,579 182,064 1,132,668
82,432
178,061
36,968
21;140
Gulf port
muscovado,
and steel (rave been less active and prices have shown
This
Sep
11913.
133,083
Port Arthur.....
Pass, &cl
_
Ohio
......
Aransas
Chinawood
October___10.41 @10.42 February.. 10.85@ 10.861 June
11.31@11.33
November 10.47 @10.50 March
11.00@ 11.01 July
J11.41 @ 11.43
.11.11 @11.12 Au?usfc ___11.47@11.49
December. 10.61 @ 10.62 Anril
January... 10.72 @10.74 May
11.22@11.23) September 11.54@11.55
and
Since
Week.
GalyestDn
Texas City
7Y%@7corn 6.35@6.40c.;
cod, domestic, 41@42c.; Newfoundland 44@46c.
"y COFFEE has been quiet but firm; No. 7 Rio 11 Uc.; fair
to good Cucuta 13^@14c.
Coffee futures have advanced
on brisk buying and reports cf damage to the
crop.
It is
asserted that the next Santos crop is likely to be the smallest
for years past. * Brazilian markets have shown a bullish
tone and there has been a good deal of bullish manipulation
in Europe.
Drought is complained of in Santos. * Cost and
freight offers have advanced.
It seems to be agreed, that
the next crop,
judging from present appearances, is not
likely to be very large, as the rainfall during the year was
rather deficient.
To-day prices advanced.
Closing prices were as follows:
York
This
17.
.
In
addition to above exports,
give us the fqllqwing
cleared, at the ports named.
New
York.
our
telegrams to-night also
of'^pfctqn,"pj4
not
We add similar figures for
On
Shipboard, Mot
Great
.
Britain.
Oct. 17 at-
France..
8,505
4,756
22,852
13,300
Ger¬
many.
FUTURES—The highest, lowest'and elbsitife pricb^ at
the past week have been as follows: . v
Cledrdd for-
Other,
Foreign
NeW York for
Leading
Coast¬
Tdtal.
Stock.
20,106
31,758
61.306
75,327
131,129
61,728
16.827
15,983
3,000
32,000
14,969
31,785
17,019 252,264
398,065
26,876 319,476
17,036 250,081
634,675
wise'.
lli«
CHRONICLE
THE
1913.1
oct. 18
NewOrMns..
Galveston
Savannah
2f}m
__ __
Oharlcstoii
MobUe
Norfolk
New York
8,000
-
;10,275
4151
"§55
...
"755
,3.000
—
Other ports—_
8,000
total 1913—
64,254
Total 1912—
97,799
92,616
-
Total 1911—
v,
32,239
5,347
16,476
12,200
10,000
16,922
2,636 100,977
3,000 30,400
18,000
450
10,933
.
5,050
500
f.000
20,000
1,000
98,409
48,759
38,742 104,156
23,823
61,903
64,959
48,462
27,008
Monday,' Tuesday,[Wed'day, Thursd'y,\ Friday,".
Oct. 13.
Oct. 14.
Oct. 15.
Oct. 16.
Oct. 17.'
Saturday,
Oct.
1,498
ll.
Week.
.
October—
4,994
.
484,258
Range
...
13.03-.22 13.00-.20 13.25-.54 13.55-.75 13.i0-.75
13.30-.44
13.30-.3l
il3.04-.06,13.14- 15 13.50- 62 13.60-.62
13.05-07
12.87-.8b 12.93-.95 13.33-.35 13.38-.40
13.10-,28
13.10-.12
12.90-.07'
12.94-.10
12.94-.96
12.68-.87 12.66-.86 12 .91-.17 13 15-.31
21-.22
12.70-.72 12.79-.80 13
12.95-.97
Closing.—
12.71-.73i 12.80-82 13.15-.l7 13.18-.20
November—
Range
...
Closing- —
December—
Range
„
jClpahig—_
■January—
Range
—
.
Closing.
been on a fair
time and then
rallied sharply towards the close of the week.
The rally was
due partly to fears of cold, wet weather and frost in the South¬
west* partly to the fact that a strike has been averted in
Speculation in cotton for future delivery has
scale at irregular prices.
Prices declined for h
__
12.8$-.05'13 .TO-.40
12.92-.94j 12.98-99 13 .38-40
Range
Closing..
_
jkrarcA—
1?.9?-.16
^Closing—
12.75-.91 12.73-.91 12
Holi¬
12.97-98
Rahgb
-
day.
_
96-22 13 17-.34
12.76-.77jl2.85-.86| 13
—
11&6-.31
I173-.34
t
-V;
■>.*
r
12.73-.75 12.8CL.82.13 .13-1513 17-.19
12.9l-.93
Closing
—-
—
—
20- .22 13. 23-.24
April—
Range
,3'£.5512.SB-;55
12 43-.45
15-.17.13
^
February—~
13
,
■
•
'\Y
y
the market had become over¬ May—
12.76-.92ll2.75-.6'0 12 97-.2113 16-.32 ti.7S-.Z2
12.bjP-.i5
Range
.18-.20 13 22-.23
sold.
Spinners, moreover, it is Stated, have latterly been
12.96-.97
.'Closing...
12.78~.79| 12.85-.86 13
13.20
13 20
buying more freely both at home and abroad. • There has June—
Range
42.69-.7l' 12.7l-.73 13 .02- 04 13 11-.13
12.85-.87
been an excellent demand for goods at firm prices.
The
Closihg.
my—
12.t6-.82 12.6S-.75 12 .82-.02 13 02-. 17 12.63-.17
12.84-06
spinners' takings have been large.
Reports of damage to
mange
12.68-.69 12.70-.71 13 .00-.02 13 09-.10
12.84-.85
Closing...
the crop in Texas and Oklahoma by recent wet weather have
.'QAugust—
Range
again been current.
Large spot interests have beeh buying
dosing—
r
and the Waldorf-Astoria shorts have been covering.
In fact September—
13.25
12.25
Range
there has been a general movement to cover.
The receipts
Closing—
at Texas points have been small.
T*he exports at times
THE VISIBLE SUPPLY OF COTTON to-night, as made
have been liberal.
In some parts of the South a better spot
up by cable and. telegraph, is as follows.
loreign stocks,
demand has been reported.
The warehouse stock here has as well as the afloat, are this week's returns, and conse¬
decreased.
It is a mere nothing as compared with that of a quently all foreign figures are brought down to Thursday
year ago.
It was felt that after a decline of 130 points evening. But to make the total the complete figures for
recently a rally was due.
Advocates of higher prices have to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
been predicting a better demand from spinners on any de¬
October 17—
,1913.
1912.
1911.
1910.
Stock at
.bales. 482,000
519,000
294,000
379,000
cline, and to a certain extent it would seem their expectation Stock &t Liverpool.
Liondon
5,000
11,000
7,000
6,000
>0,000
46,000
17,000
,14,000
has been realized.
Attention has been drawn to the fact that, Stock at Manchester—
after all, the last Government report stated the condition at
399,000
318,000
576,000
527,000
Total Great Britain stock
10,000
12,000
8,000
17,000
only 64.1.
Bulls insist, that this points under ordinary Stock at Hamburg
51,000
t>7,000
150,000
121,000
Stock at Bremen
conditions to only a moderate crop, while at the same time
80,000
62,000
95,000
88,000
Stock at Havre.
2,000
2,000
2,000
2,000
they think everything indicates a large consumption.
From Stock at Marseilles..
8,000
13,000
12,000
9,000
Stock at Barcelona
some parts of the Southwest come reports that the, percent¬
20,000
13,000
3,000
6,000
Stock at Genoa
,2,000
11,000
i
4,000
5,000
Stock at Trieste
age of spinnable cotton will not be so large as was at one
time expected.
At the same time, Liverpool's spot sales have
Total Continental stocks......
254,000
.275,000 ,,,173,000 ,173,000
shown a falling off.
They have been only 8,000 bales a day.
572,000
491,000
Total European stocks..
781,000
851,000
In many parts of the South, too, it seems that the spot
62.000
18,000
India cotton afloat for Europe...
94,000
54,000
743,521
989,542
Remand has been rather sluggish. Liverpool has reported Amer. cotton afloat for Europe.. 854,768 878,939
58,000
30,000
increased offerings of the actual cotton and free selling of
Egypt,Brazil,&c.,aflt.for Europe.
58,000
44,000
104,000
70,000
in
191,000
139,000
futures by America and
206,000
the Continent. : Many favorable Stock in Alexandria, Egypt
254,000
Stock
Bombay, India—
426,000
298,000
651,202
743,339
Stock in U. S. ports.......
crop reports have been received from various parts of the
650,329
954,151
390,627
503,157.
440,472
445,118
belt.
Estimates of the crop generally range from 14,000,000 Stock in U. S. interior towns
16.498
41,809
U. S. exports to-day.
69,150
75,596
to 15,500,000 bales, depending upon the date of general kill¬
Total visible supply
—3,564,719 3, 739,804 3,131,847 2,803,848
follows:
ing frost. Estimates under 14,000,000 bales have been the
Of the above, totals of American and other descriptions are as
AtHWiClXTl
exception rather than the rule. Some Texas reports as to
302,000
191,000
376,000
Liverpool stock
i
bales. 303,000
the outlook have been quite favorable.
The same is true of
11,000
33,000
Manchester stock
23,000
,11.000
139,000
135,000
250,000
Georgia and other parts of the Eastern belt.
There are those Continental stock
213,000
989,542
743,521
878,939
American afloat for Europe..
854,768
who attribute the sudden rally towards the close of the week
651,202
.734,339
954,151
U. S. port stocks
650,329
more to a recent overdoing of the short side than to anything
390,627
503,157
445,118
U. 8. interior stocks
440,472
16,498
41,809
75,596
U. S. exports to-day
else.
The financial situation abroad, the Mexican crisis, the
69,150
dulness of Manchester's trade, the financial tension in East
-2,553,719 3,012,804 2,605,847 2,253,848
Total American.
India and the fact that both East India and Egypt are ex¬
East Indian, Brazil, &c.—
•
77,000
103,000
Liverpool stock..
179,000
134,000
pected to raise larger crops than those of last year have been London stocks
6,000
7,000
5,0CC
11,000
3,000
6,000
items in the bearish argument.
Chiefly, however, believers Manchester stock.
17,000
13,000
34,000
38,000
Continental stock
41,000
25,000
in lower1 prices lay stress on the opinion that the crop is
62,000
18,000
India afloat for Europe...
;
94,000
54,000
58,000
30,000
going to be very much larger than was at one time expected. Egypt, Brazil, «fec., afloat
58,000
44,000
104,000
70,000
Stock in Alexandria, Egypt
191,000
139,000
They believe, too, that while the crop was recently under¬ Stock in
206,000
254,000
Bombay, India
426,000
298,000
estimated, the world's consumption of American cotton
Total East India, &CX
....H,011.000
727,000
526,000.
550,000
may, in the end, turn out to be overestimated, seeing thaf
Total American.
—.2,553,719 3,012,804 2,605,847 2,253,848
Europe, by reason of larger East Indian and Egyptian crops,
Total visible supply
will be less dependent on America this year than it was last
..—3,564,719 3,739,804 3,131,847 2,803^,848
7.98 d.
5.29d.
7.09d.
7.64d.
season.
Nevertheless, of late the tone has been noticeably Middling Upland, Liverpool.
14.45c.
9.45c.
10.95c.
Middling Upland, New York
13.80c.
\om. 13 l-16d.
lO.OOd.
stronger, at homeland abroad.
To-day prices again ad¬ Egypt, Good Brown, Liverpool__ 10.75d.
10.50d.
lO.OOd?lOlOOd.
Peruvian, Rough Good, Liverpool
9.25d.
vanced on renewed rains in Texas, Oklahoma and Louisiana,
7Md.
5 5-16d.
6 l-16d.
Broach, Fine, Liverpool.
6 15-I6d.
6^d.
7a^d.
6.00d.
predictions of frost in Northern Arkansas, Oklahoma and Tinnevelly, Good, Liverpool....
7.00d.
the Panhandle of Texas, and bullish week-end figures.
Spot
Continental imports for past week have been 156,000 bales.
cotton closed at 13.80c. for middling uplands,; showing an
The above figures for 1913 show an increase over last week
advance for the week of 10 points.
'
of 435,728 bales, a loss of 175,085 bales from 1912, an excess
The rates on and off middling," as established Nov. 201912*
of 432,872 bales over 1911 and a gain of 760,871 bales over
by the Revision Committee, at which grades other than 1910.
middling may be delivered on contract, are as follows:
QUOTATIONS
FOR
MIDDLING
COTTON AT
Middling
_c.
Basis;Good mid. tinged.c. Even
Fair
o.l.50
Lancashire, and partly because
---
—
—
—
—
...
:%•
...
,
—
—
-
"
J
—
....
,
_
^
*
;
r
—
.
*
......
■
■
-
...
....
—
....
^
,
^
•
on
1.30 on Strict low middling-0.35 off;Strict mid. tinged_0.15
0.80 oft'Middling tinged—0.30
Middling fair......1.10 on Low middling
1.40 offiStrict low mid.ting.0.85
Strict good middllngO.68 on Strict good ord
Strict mid. fair
Good
0.46 on Good
0.24 on Strict
middling
Strict middling
♦Reaffirmed
off
off
otf
ordinary
.2.15 offjLow mid. tinged—2.00 off
g'd mid. ting.0.35 onlMiddling stained._0.90 off
Sept. 10 1913.
quotation for middling upland cotton in
York market each day for the past week has been:
The official
New
Oct.
11 to Oct.
Sat.
Mon.
Tuesi
13.70
17—
Middling uplands
H.
13.50
Fri.
13.80
Wed. Thurs.
13.50
the
13.80
QUOTATION FOR 32 YEARS.
The" quotation for middling upland at New York on
Oct. 17 for each of the past 32 years have been as follows:
NEW
YORK
13.80
10.75
1911—— 9.35
1910—
14.80
1909
13.95
1908— 9.60
1907
—.11.75
190€
-11.25
1913.C
19121-
1905_c
1904
1903
1902
9.85
.10.20
1901
1900—.
1899.
1898
—
9.80
8.70
8.50
10.06
7.25
5.38
1897.
1896
1895
c
1894
1893--.
1892
1891.
1890--
—
-
6.31
7.94
9.31
6.00
8.56
8.00
8.44
10.25
1889-C
10.56
1888
9.62
1887
9.50
18869.31
9.81
1885
1884--— 9,94
1883
-.10.56
1882
11.38
—
-
—
—
MARKETS.—Below
OTHER
are
the
closing quotations
middling cotton at Southern and other
markets for each day of the week.
of
principal cotton
Closing Quotations for Middling Cotton onWeek ending
October 17.
Saturday. Monday.
Tuesday. Wed'day. Thursd'y.
Friday.
13%
13%
13%
13%
13%
13%
New Orleans
13%
13 9-16
13 5-16
13 7-16
Mobile
13 3-16
13 3-16
13
13
13 3-16
Savannah
13
12%
12%
13
Charleston
13%
12%
12%
12%
13%
13%
12%
13
13%
13%
13 5-16
12%
13.75
13.75
13
13*
13%
13%
13%*
Galveston
...
Houston
.
Little Rock
♦
13 %
13.95
;
Philadelphia
Augusta
Memphis
St. Louis.
13
13%
13 5-16
Wilmington
Norfolk
Baltimore
i
13%
•_
13%
_
13%
13 K
13%
13%
13%
13%
13%
13%
12 15-16@I3:
13%
"
13
13%
13
13%
13%
13%
13%
14.05
13 3-16
13
1334
13%
13%
13%
13%
13%
13%r
13 1-16
13
1332
14.05
13 7-16
1144
THE
CHRONICLE
AT THE INTERIOR TOWNS the movement—that is.
the receipts for the week since
Sept. 1, the shipments for
the week and the stocks to-night, and the same items for the
corresponding penod of the previous year—is set out in
detail below.
'
WEATHER
Movement to October 17 1913.
Receipts.
Movement
Ala., Eufaula..
Montgomery.
2,067
13,327
Selma
Ark., Helena.„
Little
Rock..
'
2,200
8,932
20,176
26,641
3,180
5,133
4;549
10,132
2,835
4,193
Athens
Atlanta.
Augusta
Columbus
Macon
Rome
La., Shreveport
Mlss.,Columb's
Greenville
Greenwood
1,804
11,736
9,259
1,477
9,269
7,809
1,564
19,049
21,703
17,405
17,556
2,450
4,820
18,314
4,775
5,059
39,746
5,047
20,905
2,785
1,937
6,000
1,258
1,000
10,792
12,000
4,166
1,400
3,416
7,449
5,692
Vicksburg-._.
1,166
4,236
209
Yazoo
City..
2,079
7,618
Mo., St. Louis.
N.C., Raleigh..
O., Cincinnati.
Okla., Hugo
B.C., Greenw'd
Tenn.,Memphis
12,494
27,345
4,476
7,538
10,525
1,020
10,308
832
1,409
2,568
Tex.,
2,956
3,374
908
27,679
1,961
1,640
732
Clarksville
2,844
12,273
14,722
Dallas...:....
3,500
18,576
2,633
2,500
Honey Grove.
716
5,861
964
Houston..... 134,136
Paris
5,217
820,030 118,944
26,841
4,719
6.708
29,074
1,500
5,697
10,915
2,000
7,248
7,656
920
1,200
1,837
2,247
8,800
7,986
9,049
59,498
5,526
2,749
5,159
21,601
881
4,543
506
8,594
15,174
2,894
2,647
8,540
763
819
3,164
2,532
588
<
4,807
10,410
300
128
7,598
3,845
9,723
3,700
•
3,377
1,000
46,664
445
17,774
22,641
2,503
275
1,852
125,542
2,935
Brenham
1,656
305
2,072
7,889
7,603
12,247
5,560
4,207
5,474
90S
15,578
2,762
2,223
21,997
1,267
900
927
951
1,853
2,827
52,483
Nashville
9,257
40,907
14,225
19,442
28,086
90,289
13,531
10,661
11,091
46,761
6,408
10,138
11,570
1,200
5,359
4,409
18.
8,900
57,154
2,977
10,056
3,207
15,072
Oct.
40,898
10,586
11,399
19,001
5,604
Stocks
Week.
Season.
4,656
15,382
2,000
7,403
12,375
22,545
2,150
2,488
3,794
21,610
1,955
23,352
61,036
"
*
10,046
8,930
118.896
1,437
Natchez
21,995
4,308
5,114
1912.
Ship¬
Receipts.
2,138
8,996
16,147
34,400
8,191
1,802
8,000
Meridian
2,379
10,527
10,054
Ga., Albany
Week.
51,041
11,046
28,400
16,127
18
October
ments.
17.
66,959
9,191
4,932
to
Oct.
Week.
Season.
Stocks
ments.
Week.
Ship¬
2,662
17,616
3,791
2,500
500
4,126
83,074 20,299 54,349
105
374
756
1,729
1,040
700
800
8,708
1,600
1,179
5,670
4,758
4,428
2,563
16,795
7,000 10,000
48,400
8,000
6,838
2,424
3,169
1,965
2,632
17,805
115,029 157,988 1,083,681 155,513 108,858
9,269
6,125
9,943
45,647
7,809
72,546
.
Total, 33 towns 361,141 1,629,441 281,580 440,472 377,005:1,808,548
282,2361445,118
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up
from telegraphic reports Friday night.
The results for the
Sept. 1 in the last two years are as follows:
week and since
-1912-
-1913October 17—•
Since
Shipped-—
Since
Sept. 1.
Week.
Sept. 1.
17,651
8,783
10,410
4,879
22,458
8,826
Week.
10,308
4,479
453
2,784
761
8,147
9,263
21,875
34,462
1,623
4,046
8,762
.36,195
109,092
31,148
6,829
18,386
2,281
6.119
724
3,869
11,685
864
4,489
1,170
852
9,869
8,723
33,940
3,997
20,477
Leaving total net overland*^>_27,472
27,472
75,152
27,151
54,813
Via St. Louis
Via Cairo
Via Rock
;
Island
Via Louisville
Via Cincinnati
Via Virginia points
Via other routes, &c
581
10,920
4,820
50
1,428
4,810
3,708.
9,539
25.899
75,290
Deduct Shipments.
Between
interior towns
i
im
.
.
*
Including movement by rail to Canada.
foregoing shows the week's net overland movement has
been 27,472 bales, against 27,151 bales for the week last year,
exhibits
an
season
date the aggregate net overland
to
increase from
a
of 20,339 bales.
year ago
1913
In Sight and Spinners'
1912
—
Since
Since
Week.
Sept. 1.
Week.
.485,092
27,472
Southern consumption to Oct. 17.
60,000
2,325,219
410,000
500,942
27.151
56,000
.572,564
79,561
2,810,371
325,968
584,093
94,769
Takings.
Receipts at ports to Oct. 17
Net overland to Oct. 17
75,152
.
.
.
Came into sight during week__652,125
.652,125
Sept. 1.
2,315,432
54,813
384,000
2,754,245
348,082
678,862
3,136,339
North'n spinn's takings to Oct. 17
88,577
351,907
3,102,327
64,734
•
225,574
Movement into sight in previous years.
Week—
Bales.
1911—Oct. 20—
1910—Oct. 21—:
1909—Oct. 22-
-
Since Sept. 1—
626,030
•...625,403
.602,444
—
Bales.
.
1911—Oct. 20 —'
1910—Oct. 21"——
3,257,121
2,797,169
13,247,645
1909—Oct. 22
NEW ORLEANS CONTRACT MARKET.—The highest,
lowest and.closing quotations for leading contracts in the New
Orleans cotton market for the past week have been as follows:
Saturday, Monday,
Oct.
11.
Tuesday, Wed'day, Thursd'y,
Friday.
Oct. 14.
Oct. 13.
Oct.
Oct. 15.
Oct. 16.
17.
October—
Range
Closing
Nov.—
Range
Closing
13.05-.17 13.05-.20 13.25-.50 13.54-.64
13.04-.05 13.19-.20 13.50-.51 13.49-.51
13.23-.42
13.23-.24
13.19-.21
12.96-.98 1.309-.11 13.41-.43 13.37-.39
13.14-.34
12.93-.10 12.91-.08 13.13-.39 13.34-.50
12.94-.95 13.07-.08 13.38-.39 13.35-.36
Dec.—
Range
Closing
13.17
—
Jan.—
Range
13.13-.34
Closing
13.15-.16
Feb.—
Range
Closing
March—
n
Range
W Closing
12.92-.10 12.90-.08 13.13-.40 13.34-.52
12.93-.94 13.07-.08 13.38-.39 13.35-36
HOLI¬
DAY.
13.12-.19
12.96-.98 13.09-.11 13.42-.43 13.37-.39
13.21-.42
13.00-.19 12.97-.16 13.22-.48 13.43-.60
13.00-.01 13.15-.16 13.47 — 13.44.-45
13.24-.25
May—
Range
13.25-.47
Closing
13.28
13.06-.23 13.03-.22 13.27-.53 13.49-.63
13.05-.06 13.21-.22 13.50-.52 13.49-.50
—
July—
Range
Closing
.
13.20 —
13.08-.10
■
13.47
l3.25-.27
—
13.63.-69
13.52-.54 13.51-.54
in the Southwest rain has fallen the
past week, but that else¬
where dry weather has been
quite general.
Picking has made
progress and the movement has been
fairly liberal. Our
Galveston correspondent remarks that
marketing in Texas
is
exceptionally light for this time of year.
Galveston, Tex.—Weather condition fore-part of week
mostly favorable to farmers.
General rain occurred 16th
inst.
Movement exceptionally light for this time of
Rainfall for the week
eighty-six hundredths of
four days.
The thermometer has
an
Steady
Steady
-
Easy
Steady
year.
inch,
on
averaged 76, the highest
being 85 and the lowest 66.
Abilene, ,'Tex.—There has been rain on two days of the
past week, the rainfall reaching sixty-eight hundredths of an
inch.
Minimum temperature 58.
Brenham,
Tea:.—Rain (heavy)
on one day of the week to
one inch and
twenty-six hundredths.
Average
thermometer 71, highest 88, lowest 54.
Cuero, Tex.—There has been rain on one day of the past
the extent of
week, the rainfall reaching seventy hundredths of an inch.
The thermometer has averaged 70,
ranging from 52 to 88.
Dallas, Tea:.—There has been rain on two days of the past
week to the extent of
one inch and twelve hundredths.
The
thermometer has averaged 64, ranging from 46 to 82.
Henrietta, Tex.—Rain has fallen on two days during the
week, the rainfall reaching fifty-two hundredths of an inch.
Average thermometer 64, highest 82, and lowest 46.
Huntsville, Tex.—We have had heavy rain on one day of
the week, the rainfall being one inch and
fifty-eight hun¬
dredths.
The
thermometer
has
averaged 67,
the highest
being 86 and the lowest 48.
Kerrville,
Tex.—There has been rain
day of the
week, to. the extent of forty hundredths of an inch.
The
thermometer has averaged 64, ranging from 46 to 82.
Lampasas, Tex.—Rainfall for the week seventy hundredths
of an inch, on one day.
The thermometer has averaged 65,
the highest being 84 and the lowest 46.
Long view, Tex— Rain has fallen on two days the past week,
the rainfall reaching one inch and four hundredths.
The
thermometer has averaged 68, ranging from 50 to 86.
Luling, Tex.—There has been rain on one day during the
week, the precipitation reaching eighty-four hundredths of an
inch.
The thermometer has averaged 71, the highest
being
88 and
the lowest 54.
fall of
one
one
\
#
Tex.—Rain
Nacogdoches,
on
on
two days of the week, with
inch and twenty-four hundredths.
Average ther¬
mometer
67, highest 88, lowest 46.
Palestine, Tex.—There has been rain on two days during
the week, the precipitation reaching one inch and thirty hun¬
dredths.
The thermometer has averaged TO, the highest
being 88 and the lowest 58.
Paris, Tex.—There has been rain on two days of the,past
t
week, the rainfall reaching one inch and ten hundredths.
averaged 64, ranging from 46 to 82.
San Antonio, Tex.-—Rainfall for the week one hundredth
of an inch, on one day.
The thermometer has averaged 72,
the highest being 88 apd the lowest 56.
Taylor, Tex.—There has been rain on two days of the past
week, the rainfall reaching two inches and fourteen hun¬
dredths.
Lowest thermometer 52.
Weatherford,
hundredths of
„
Tex.—Rainfall
inch
the
for
week
eighty-tw«
three days.
The thermometer has
averaged 65, the highest being 84 and the lowest 46.
Ardmore, Okla.—Rain has fallen on three days thefeast
week, the rainfall reaching one inch and twenty-seven hun¬
dredths.
The thermometer has averaged 62, ranging from
an
45
on
to 80.
;
Holdenville, Okla.—We have had rain on three days during
the week, the precipitation being one inch and thirteen hun¬
dredths.
The thermometer has ranged from 44 to 77, av¬
.
eraging 61.
Helena, Ark— Rain has fallen on two days the past week,
the rainfall reaching fourteen hundredths of an inch.,
Mini¬
mum thermometer 42, highest" 84, average 63.
Little Rock, Ark.—Rainfall for the week one inch and seven¬
teen hundredths, on two days.
The thermometer has aver¬
aged 66, the highest being 84 and the lowest 49.
Alexandria, La.-^-Rain on three days of the week to the
extent of one inch and ninety hundredths.
The thermometer
averaged 66, ranging from 48 to 84.
La.—There has been no rain during the week.
The thermometer has ranged from 60 to 88, averaging 74.
has
New Orleans,
Shreveport, La.—Rain on two days of the week to the ex¬
of twenty-two hundredths of an inch.
Average ther¬
mometer 70, highest 88, lowest 52.
Columbus, Miss.—There has been rain on one day during
the week, the precipitation reaching twenty-eight hundredths
of an inch.
The thermometer has averaged 66, the highest
being 88 and the lowest 44.
Vicksburg, Miss.—Rain on three days of the week to the
extent of forty-seven hundredths of an inch.
The thermom¬
eter has averag d 69, ranging from 51 to 85.
Mobile, Ala.—Ther
has been no rain during the week.
The thermometer has ranged from 54 to 84, averaging 70.
tent
Average thermom¬
Montgomery, Ala.—Dry all the week.
69, highest 88, lowest 49.
Selma, Ala.—Dry all the week.
The thermometer has
eter
Tone—
Spot
Options
REPORTS BY TELEGRAPH. -Our tele¬
The thermometer has
The
and that for the
xcvn.
graphic advices from the South this evening indicate that
good
Towns.
[Vol.
Steady
Steady
.Steady
Very st'y
Firm
Steady
averaged 64, the highest being 83 and the lowest 47.
The thermometer
Fla.—Dry all the week.
Gainesville,
averaged 70, ranging from 49 to 91.
has
had
Madison, Fla.—We have
thermometer has ranged
no
rain the past week. The
from 50 to 88, averaging 69.
been no rain during the week.
Augusta, Ga.—There has
1145
CHRONICLE
THE
1913.]
Oct. 18
67, highest 88, lowest 46.
Savanna
Ga.—We have had no rain during the week.
The thermometer has averaged 69, the highest being 86 and
Average thermometer
give below a statement showing the exports
of domestic cotton manufactures for August and for the eight
months ended August 31 1913, and, for purposes of compari¬
son, like figures for the corresponding periods of the previous
year are also presented:
V
,
the lowest 52.
Manufactures
S. C.—Dry all the week.
The thermometer
has averaged 68, ranging from 53 to 84.
Greenville, S. C.—It has been dry all the week.
The ther¬
mometer has ranged from 40 to 85, averaging 63.
Charlotte, N. C.—Rain on one day of the week to an in¬
Average thermometer 65, highest 83,
appreciable extent.
.V
lowest 47.
•
Lumberton, N. C.—Rainfall for
dredths of an inch, on two days.
/
aged 59, the highest being 77 and the lowest 41.
Dyersburg, Tenn.—Rain on one day of the week to the ex¬
tent of sixty-five hundredths of an inch.
The thermometer
has averaged 64, ranging from 42 to 85.
Memphis, Tenn.—Picking and marketing are making
good progress.
Rain has fallen on one day the past week,
the rainfall reaching sixty-four hundredths of an inch, and
rain is now falling.
The thermometer has averaged 67, rang¬
ing from 52 to 84.
*
COTTON GOODS FROM GREAT
we give the exports of cotton yarn,
OF
EXPORTS
BRITAIN.—Below
1913.
Piece
Piece
goods.
goods.
Clothing, &c.-—All other
goods, &c., from Great Britain for the month of September,
and since Oct. 1 1912-13 and 1911-12, as compiled by us
from the British Board of Trade returns.
It will be noticed
that we have reduced the movement all to pounds.
408,731
value
value
Waste cotton
Yarn
52,347
501,627
value.
All other...
1913.
1912.
j
yards 33,566,927
value $2,311,634
294,033
value
698,025
value
...
Clothing, &c.—Knit goods
1912.
.
33,680,523 308,729,569 327,406,286
$2,286,088 $21,332,655 $21,442,487
1,838,116
.1,479,468
331,827
5,485,752
5,957,827
726,695
2,613,209
3,451,276
351,245
400,474
500,739
69,138
4,399,447
4,079,456
585,214
$35,820,837
va.ue $4,266,397 $4,350,207 $37,160,069
Total manufactures of
the week ninety-eight hun¬
The thermometer has aver¬
31. 8 Mos. ending Aug. 31.
Month ending Aug.
t
of
Cotton Exported.
,
Charleston,
MANUFAC¬
COTTON
OF
EXPORTS
DOMESTIC
TURES.—We
SALES AT NEW YORK.
the spot each day during the
MARKET AND
The total sales of cotton on
week at New York are
indicated in the following statement.
For the convenience of
the reader we also add columns which
show at
a
same
on
,
SALES.
Futures
Spot Market
Market
Closed.
Closed.
Quiet
Saturday
HOLIDAY
Monday
Quiet, 20 pts. dec..
Tuesday
Quiet
Wednesday.
Steady, 30 pts. adv.
Thursday
Steady
Friday
119923
and futures closed
glance how the market for spot
days.
Total.
Contract
Spot.
Easy
100
100
1,700
Firm
f.700
2,200
2,289
,
__
Steady
89
Total....
WORLD'S SUPPLY AN >
489
400
89
Steady.
Steady
TAKINGS OF COTTON.—
brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and
since Sept. 1 for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amounts
The following
Total of All.
Cloth.
Yarn & Thread.
000s
1912 13.
1912 13.
1911 12.
Lbs.
Lbs.
Lbs.
568,946
554,370
Lbs.
517,204
124,521
106,345
103,621
124,019
108,541
96,673
149,224
126,242
123,628
148,158
131,222
117,181
663,504
666,185
24,139
22,681
24,703
1911 12.
1912 13.
Yds.
Lbs:
Lbs
Oct
1911 12.
Yds.
1912 13 1911 12
0milted
580,682
Dec
19,897
20,007
lat guar
64,607
67,328 1,789,601 1.761,390
334,487
329,233
399,094
396,561
Jan
22,674
22,086
648,913
563,606
559,693
489,529
121,292
105,437
104,615
Feb
20,974
18,455
142,266
123,892
127,289
113,587
Mar
19.034) 25,817
560,905
622,341
104,842
123,876
142,141
Nov
—
2d quar.
20,508
70,577 1,773,424 1,671,563
58,463
91,501
116,324
331,571
312,440
390,034
383,017
97,968
104,822
130,272
118,848
127,530
587,553
524,131
606,254
560,800
109,823
113,319
615,558
519,865
115,058
97,171
133,690
118,834
65,251 1,809,365 1,604,796
338,200
299,961
396,867
365,212
April...
20,449
May—
19,586
June...
18,632
20,880
22,708
21,663
58,667
Id quar.
V.
• mos__ 181,737 203,156 5,372,290 5,037,749 1,004,258
132,905
941,634 1,185,995 1,144,790
July
18,364
22,548
638,971
635.361
119,434
118,756
August.
17,639
22,812
579.546
125,965
17,108) 20,730
548,973
108,326
102,612
119,959
Sept...
641,782
569,622
141,304
142,771
106,471
119,720
127,201
4th quar
53,111
66,090 1,767.490 1,846,765
330,372
345,186
383,483
411,276
137.798
1,556,066
Year. 234,8481269,24617,139,780 6,884,514 1,334,630 1,286,8201,569,478
46,923
Sundry articles......
1,617,4961,605,981
of cotton manufactures
Total exports
1,095
48,820
1,095
Stockings and socks.
like period.
out of sight, for the
gone
1912.
1913.
Cotton Takings.
Week and Season,
Visible supply Oct. 10
Visible Supply Sept. 1
—
3,343,060
3,128,991
5,000
2,135,485
3,102,327
32,000
1,000
58,600
5,000
35,000
151,000
43,000
3.891,116
5,601,690 4,091,522
5,498,812
3,564,719
3,564,719 3.739,804
3,739,804
351,718
298,118
1,759,008
1,455,008
53,600
304,000
Oct. 17. III
American in sight to
2,055,351
3,136,339
652,125
4.000
70.000
6.000
supply to Oct. 15*
Total supply
678.862
120,000
36.000
30.000
Bombay receipts to Oct. 16-_
Other India ship'ts to Oct. 16.
Alexandria receipts to Oct. 15.
Other
Season.
Week.
Season.
Week.
210,000
44,000
Deduct—
Visible supply Oct.
17__
Total takings to Oct.
Of which American
Of which other
326,397
17_a
311,397
15,000
>•
v
2,036,971
1,624,971
412,000
„
receipts in Europe from Brazil, Smyrna, West Indies, &c.
a This total embraces since Sept.
1 the total estimated consumption by
Southern mills, 410,000 bales in 1913 and 384,000 bales in 1912—takings
not being available—and the aggregate amounts taken by Northern and
foreign spinners, 1,626,971 bales in 1913 and 1,375,008 bales in 1912, #f
which 1,214,971 bales and 1,071,008 bales American.
*
Embraces
INDIA COTTON MOVEMENT FROM ALL
PORTS.
1911.
1912.
1913.
October 16,
EGYPTIAN
Schwartz &
COTTON
20,
under date of Sept.
as
L. H. A.
advices from Alexandria,
CROP.—Messrs.
Co. of Boston have
follows:
also will be in Charkieh
fog has been more or less
Mansourah.—Temperature last
week was favorable though fog has not much damaged.
On the other
hand, districts which were deprived of water for some time have suffered
from the excessive watering of the last few days which caused shedding
•f bolls.
Worms still exist in certain districts
In Agha and around
Mansourah, first picking is almost general, whereas in the outlying sec¬
tions such as Cherbine, Farascour, picking has not yet started.
Kafr
el->ayat.—Weather was warnmer this week than-last and bolls are open
everywhere.
About the 25th of September, picking will be general.
Again, damage is reported on account of fog.
The high temperature,
however, prevented more or less the development of worms.
Magaga.—
(Upper Egypt, Province Minieh).—Temperature propitious.
Arrivals
Zagazig.—In Galiobieh, picking is general and
days.
For some time the
from
all
districts
become
late cotton.
C. Andres Co., also of Boston, have the fol¬
lowing from Alexandria of date Sept. 19:
Picking if- now general all over the Delta, and arrivals from these
parts are increasing daily.
The staple of the Delta Cotton h very good
and Upper-Egyptian cotton has also somewhat improved in that respect.
The ginning yield has been extraordinarily favorable so far this season, but
crop reports in general are beginning to be less optimistic.
A great many
pods, attacked by the.boll worm, have been iniured by the late fogs and
are falling off.
This might cut short the yield Of the second pickings and
seriously influence the final size of the crop
BOOK
OF
DAILY
CABLE
•
*
RECORDS
OF
Liverpool and
A number of
features of especial interest to the trade have been added
to this issue, including the U. S. Census Bureau's monthly
issued by Comtelburo, Limited, of London,
New York, has been received by us this week.
consumption, &c., and Egyptian Department
Agriculture periodic reports.
The publication is of a
very comprehensive character and, therefore, a decidedly
valuable book of reference.
It contains, of course, the
statement of
of
very full statistics of the American, East Indian,
Egyptian, Russian and Brazilian crops, the pages being so
arranged that the daily and weekly figures for this year as
received can be inserted side by side with those for the previ¬
usual
It will be found on sale at the office of
Limited, 16 Beaver Street, New York.
year.
buro,
#
CorUinent.
&China
Conti¬
Britain.
nent.
Japan
Britain,
Total.
1913
1912
1,000
..
....
20,000
16,000
4,000
13,000
1,000
2,000
2,000
2,000
34,000
17,000
6,000
1.
Japan
106,000
41,000
15,000
China.
Total.
46,000
3,000
7,000
&
Bombay-
154, ««•
46,00#
22,00#
Calcutta-
1,000
1,000
1,000
V.ooo
1~666
5,00#
3,00#
4,000
"V.ooo
3,000
3,000
4,00#
Comtel¬
1,000
1912
1911
6,00#
1,00#
4,00#
6,000
1,000
1,000
1913
1,000
3,000
2,000
1,000
5,000
2,000
21,000
1,000
2,000
29,000
38,000
5,000
137,000
18,000
3,000
74,000
4,000
56,000
-
All others—
1913
....
1,000
1,000
1,000
5,000
1912
1911
2,000
1,000
3,000
1913
....
i~66o
21,000
17,000
9,000
14,000
1,000
2,000
12,000
ALEXANDRIA RECEIPTS AND
Alexandria, Egypt,
October 15.
Receipts (cantars)—
This
week
Since Sept. 1
Exports (bales)—
To
Liverpool
Total exports
81,00#
67,00#
1910-11.
210,000
545,559
1
This
8,000
7,750
This
Since
Week. Sept.
1.
26,382
19,689
36,284
878
To America
Note.—A cantar is 99 lbs.
190,00#
SHIPMENTS.
440,000
1,131,974
450,000
1,578,792
To Manchester
To Continent and India.
48,000
4,000
7,000
1911-12.
1912-13.
25,000
31,00#
37,00#
35,000
Total all—
1911
AMERICAN, EAST INDIAN, EGYPTIAN AND BRA¬
ZILIAN COTTON
STATISTICS, &C.—The forty-third
annual issue of the "Hand-Book for Daily Cable Records,"
ous
Great
Great
34,004
Madras—
important.
The Eugen
HAND
Since September
For the Week.
Exports
from—
5,000
32,000
5,000'
120,000
30,000
Since
Sept. 1.
Week.
Sept. 1.
Week.
Sept. 1.
Week.
Borabay.
in about ten or twelve
heavy, which is injurious to
Receipts al-
Since
I.
Since
15,750
83.233'
This
Since
Week. Sept.
Since
Week. Sept.
1.
1.
3,500 I 16,082
8,000 1 18,475
5,000 25,632
3,870
1,000
6,500
16.999
6",000
7,879
23,624
1,583
64,059
12,500
50,0§5
17,500
50 lbs.
Egyp tian bak)S weigt about 7
The statement shows that
week were
shipments 15,750 bales.
the receipts for the
450,000 cantars and the foreign
THE
WINCHESTER
MARItET.—Oixt
CHRONICLE
feport received by
LIVERPOOL.—By
to-night frbiii Manchester state's that the market cohtihti'es '(Jiiiet For both yarns and
.Shirtings. Merchants are not
willing to bay preseht prices. We give the prices for to-day
belbft and leave those for
previous Weeks of this ana last
cable from Liverpool We have the
statement of the Webk's
sales, stocks, &c.^ at that
following
port:
Sales of the week—,.
Of which
speculators took
Of which
exporters took
for comparison.
year
[Vol. xcni.
8H
32# Cop
ing i, common
Mid.
to finest.
VvV*
Twist.
.
a.
a.
d
s.
a.
Aii*.
l
6
8e|t
6
3
@11 9
@11 10
12
l\H 6
1134 B 434@11
11*4 6 5
@11
26
4.
a.
®
?0M
7.85 913-16@
Oct.
Of which
6.40
1
6.62
3
234@H 2
@11 a
2
,3
1134 6 434@11
11
7.87 9H
11^4 6 4
-'119
11HI6 3>1@11'8
H
17
Liverpool market for spots and futures
day of the past week and the
daily closing prices of
@11
@11
spot cotton have been
6.76
2
.
1034 6
1
1
@11
103416
0
@11
@11
1J4
134
1
«
Spot.
Monday.
Tuesday.
Quiet.
Good
business
Inquiry.
doing.
Market,
5.30
b:o9
V
.*■
To
To
To
.
To
To
?o Barcelona—Oct. 14—Ferndene, 100
Genoa—Oct. 10—Europa, 47Naples—Oct. 10—Europa, 200Leghorn—Oct. 15—Italia, 125.
;.. -jTo Japan—Oct. 11—Kafue,
500---_--.._i_.-——
GALVESTON—To Liverpool—Oct.
12,395
,
—
—
—
—
-----
-
—
500
St'dy uiicfc.
to 34 point
decline.
advance.
-
-
-
-
500
Firm
7@9 pts.
Steady,
834@934
1634@183<
decline.
pts. adv.
pts. adv.
10@133*
pt.
to
634 @934
pts. dec.
734 @11
134 pts.adv
14@20
pts. dec.
pts. adv.
pts. adv.
ui
Steady, *4 Barely st'y,
iuuiuco
are
o/u
dec.
j-ii v vi
the
on
Sat.
jjuui
basis
Mon.
12H
12K
p.m.
I
.17
.17
Oct .-Nov.
Nov.-Dec.
Dec .-Jan.
Jan .-Feb.
p.m.
of
{
08
4
i2Jtf 4 \12H\ 4 j 1
p.m.\p.m. p.m.\p.m.\p.m. p.m.
d.
I
d.
d.
d.
.
08
08
03
Aug.-Sept.
d
87
05 M
Sept.-Oct.
6
63^
Oct .-Nov.
6
53
aio
given
7 28-1004.
Thurs.
.
08
.-May
means
\
Wed.
14
14
05^:0734 20
03H 03 H 03
95
19634 08
J95H 9 5y2 9534 8634 87
j9834
95
95
95
86
18634 973-4
.95
95
95
86
86 3-4 9714
95
95
95
86
86 >4 97
.95
95^
8634 86H 97
„95 H 95^ 9534 87
i 86 34 97
953^196
95H 87
8634 97
93
193^ 93
18434 84
90H191
9034 82
18134 ;9134
75
76
7634 69 -6734 77 34
53
55
54
14634 4434 15334
43
45
44
'3634 3434 4234
08
Mar.-Apr.
uoij
-
7.08
May-June
June-July
July-Aug.
caeu
Steady
upland, good ordinary
-'14^
16H
08^
7
lui
Quiet,
Thus: 7 28
Tues.
d.
28
7
.
V2H\
d.
7
.
.
Feb .-Mar.
Apr
500
Easy,
advance.
Easy,
,
October..
----
—
500
Steady at
8@9 pts.
Firm,
9@934 Pte.
——
——
500
p.m.
----
-
7.64
9,000
Prices
-—
.
...
7.50
8,000
Steady at
Oct.
-
7.36
8,000
pttoo
Oct. 17.
39,148
9—Wittekind, 5,299
Oct. 15—Burrsfield,
16—Kansan, 12,094
.29,788
To Antwerp—Oct.
16—Sizergh Castle, 1,300-------1,300
To Ghent—Oct.
16—'Sizergh Castle, 1,983
1,983
To Genoa—Oct.
11—Aspromonte, 10,355
10,355
TEXAS CITY—To Liverpool—Oct.
9—Inkum, 15,255-—Oct. 16
Wearpool, 16,806
32,061
ARANSAS PASS—To Liverpool—Oct.
15—Almerian, 7,1397,139
NEW ORLEANS—To Liverpool—Oct.
14—Nubian, 5,184
5,184
To Havre—Oct. .13—Honduras, .9,514-" ""'
9,514
To Bremen—Oct. 15—Koln, 12,149
12,149
To Barcelona—Oct. 14—Gerty, 400400
To Venice—Oct. 14—Gerty, 1,109
1,109
..To Trieste—Oct. 14—Gerty, 500
500
MOBILE—To Havre—Oct. 6—Nitonian. 12,405
12,405
PEN3ACOLA—To Bremen—Oct. 11—Teviot, 5,500
5,500
SAVANNAH—To Liverpool—Oct.
13—Hatumet, 3,171—
3,171
To Manchester—Oct.
13—Htaumet, 9,551
9,551
To Havre—Oct. 15—Sowwell, 11,401
11.401
To Bremen—Oct.
10—Lingfield, 11,730
Oct. 13—Calabria,
5,749--Oct. 15—Glenrazon, 15,091;
Rustington, 11,470--^
Oct. 16—Grantley Hall. 800
44,840
To Hamburg—Oct. 11—Priestfield,
1,344
1,344
To Barcelona—Oct. 15—Clara,
3,250
3,250
To Triests—Oct. 15—Clara,
5,300
5,300
BRUNSWICK—To Liverpool—Oct.
15—Indian, 9,513
'9,513
To Bremen—Oct.
11—Glenmay, 8,768
Oct. 17—Sidmouth,
T« Bremen—Oct.
7.46
to
11—Knockwell, 11,126—
Oct. 15—Barrister, 9,614; Denis,
Oct. 14—Riogano, 7,281
11,127
'
doing.
5,000
300
Oct. 11
500
business
7.55
The prices are given in
pence and 100th.
200
125
-
jljlio
Fri.
1234
p.m
,4
d.
d.
d.,
18*4 3534 383
24263
14
15
96
95
1234 14
9534 1234 14
95
1234 14
9534 1234 1
9534 12
14
9534 12
93
0934 1°
90
0634 07
76
91
,92
0634
53
42
67
55
68
'56
BREADSTUFFS.
'
4.
Friday Night, Oct. 17 1913.
Flour
il-,950—
-
-
•—————_
—
—
—
—
CHARLESTON—To Liverpool—Indian, 13,350---Oct.
15—Tafna,
.,9,970
Barcelona—Oct. 11—Delphine, 2,350
To
WILMINGTON—To Liverpool—Oct. 14—
Incebank, 10,500
To Havre—Oct. 13—Corby, 11,049---
11,049
To Bremen—Oct.
15—Fitzpatrick, 14,300—
NORFOLK—To Liverpool—Oct. 13—East
Point, 5,500--To Hamburg—Oct.
11—Bosnia, 253--1
BOSTON—To Liverpool—Oct. 14—Laconia,
1,706
14,300
5,500
—
253
-
-
BALTIMORE—To Liverpool—Oct.
7—Rowanmore,3,221
To Havre—Oct.
8—Columbian, 1,809
To Bremen—Oct. 15—Rhein, 5,001
•—
PHILADELPHIA—To Hamburg—Oct. 13—Prinz
Oskar, 100-—
SAN FRANCISCO—To
Japan—Oct. 7—Tenyo Mara, 4,527PORT TOWNSEND—To Japan—Oct.
7—Ajax, 500-r-Oct. 10—
Canada Maru, 2,299-__Oct. 14—Tacoma
Mara, 3,004
—
Total-
—
■
arranged in
our
Great
Britain.
New York
French
_
—-
—
Savannah
Brunswick
Charleston
Wilmington.
Norfolk
_
.
-
_
___,
Boston
Baltimore
12,149
1,307
2,009,,
—
8,550
472
J—_
Total.
500
—
9,514
12,405
10,761
82,574
? 32,061
5,500
12,722 11,401 46,184
9,513
20,718
23,320
10,500 11,049 14,300
5,500
253
1,706
3,221
1,809
5",661
7,139
30,163
12,405
5,500
78,857
30,231
25,670
35,849
5,753
1,706
—_
-
2,350
-.
10,031
100
San Francisco..
Port Townsend—
155,122 46,178 136342
The
6,92 1
23,736
-
4,527
5,803
100
4,527
5,803
10,830 379,130
exports
to Japan since Sept. 1 have been
33,521 bales
from Pacific ports and 500 bales from
New York.
Cotton freights at New York the
past week have been
follows, quotations being in cents per 100 lbs.:
Sat.
Liverpool
Ties.
Wed.
Thurs.
Fri.
30
30
30
30
30
30
30
3b
30
35@40
Bremen
30
35@40
30
35@40
35@40
35@40
35@40
32
32
32
32
45
32
45
45
45
30
—
Hamburg
Antwerp
45
30
45
30
30
30
30
36
Ghent, via Antwerp
36
Reval ——;
45
Barcelona—.——
4b
Genoa
30@35
,
36
36
36
36
45
45
45
4b
45
Japan
*
-
30@35
40
30@35
42
Trieste
Bombay
Mon.
as
30
—
Manchester
Havre
30@35
42
42
42
60@70
60@70
60@70
60@70
60@70
60@70
60@70
60@70
City the high price of wheat has
for flour.
are
loath
western
St. Louis conditions
to
mills, it is true, reported
week, but later
been
are
a
cut down the
Some of
mostly in small
40
40'.
32
45
40
30@35
"
At
demand
Buyers
*
the North¬
fair business early in the
the demand subsided.
on
At Chicago
unsatisfactory.
place contracts ahead.
The
monotonous
being done.
The trading has
moderate-sized lots.
or
year.
Wheat has been
tion, despite
some
declining under
pressure
of long liquida¬
rather large export sales.
Foreign
kets have
.Europe— Meg.,
North. South.'
dice. Japan.
10,355.
Philadelphia
Total
Kansas
a
467,580 bushels, against 470,065 in the previous week and
-Oth
2,332
3,282
moderate scale.
5,803
follows:
29,788
a
The produc¬
tion at Minneapolis, Duluth and Milwaukee last
Week was
100
_
Mobile
Pensacola
Ger-
Ports, many.
2,349
5,108
Galveston
39,148
Texas City—__32,061
Aransas Pass.
7,139
New Orleans
5,184
are as
on
4,527
foregoing shipments for the week,
usual form,
sell
to
it is complained that very little business is
481,450 last
•
(
The particulars of the
continued
experience of each week in this respect is only
repetition of the previous week's experience.
.—379,130
-
f+i
1,706
3,221
1,809
5,001
-
■
t
20,718
23,320
2,350
10,500
has
30@35
42
42
60@70
60@70
60@70
60@70
marr
also been declining, partly
owing to more favorable
reports from East India and South America.
The offerings
of Canadian wheat have increased.
Russian wheat has also
been offered more freely.
From present appearances there
will be an increase in the acreage of winter
wheat in
this
country.
In South Australia there have been good general
rains which have been of benefit.
In France sowing of the
winter-wheat crop is progressing
favorably.
In Ger¬
the weather has been satisfactory for sowing. The
crop
in Rqssia,
according to recent reports, is good.
It is
also
intimated
that
recent
unofficial
estimates
new
many
of
the
Russian
winter
ditions.
wheat
The
crop
there
same
too
were
is
low.
The
sowing
of
proceeding under favorable con¬
Roupiania, Hungary and Italy.
is true of
In Australia the crop prospects are excellent.
The increase
the visible supply of the United States last
week was
in
2,433,000 bushels, against 1,732,000 last year.
The sup¬
ply is about 20,000,000 bushels larger than a year ago.
The
world's shipments last week rose to
15,344,000 bushels,
against 14,160,000 bushels in the previous week and 13,488,-
000 in the same week last year.
There has been consider¬
able selling in Liverpool, owing to
heavy shipments from the
Black Sea and America as well as the
increasing pressure of
new Australian wheat.
Russian shipments last week were
5,456,000 bushels, against 4,320,000 in the previous week and
3,064,000 last year.
North America shipped 6,312,000
bushels, against 7,416,000 in the previous week and 6,384,000
last
year.
This
shows
that
the
shipments
from
.
North
000
America
bushels.
in
The
,,
two
weeks
receipts
at
were
nearly
Canadian
and
«
p.m. p.m.
-
-----
i
^
Good
Inquiry.
clause, unless otherwise stated.
47
_
o
To
1
below.
606
100
o
—
-
608
—--
J
p. m.
404
182
Fait
..
Easier.
i-A
*
Fridays,
f
8,000
\ 2@234 pts.
decline.
/
Market,
532
-
To
Futures. \
opened
Manchester—Oct. 15—Tintoretto, l,050_----_-_-------Bremen—Oct. 15— Prinz Friedrich Wilhelm, 2,349:
Reval—Oct. 15— Birma, 532
Riga—Oct. 15—Birma, 404
Libau—Oct. 15—Birma, 182
St. Petersburg—Oct.
15—Birma, 608-Antwerp—Oct. 14—Vaderland, 606__
Thursday.
7.61
Spec.&exp.
Market
4,058
1,050
2,349
—
1-1
5,000
Sales
Total bales.
NEW YORK—To Liverpool—Oct.
15—Celtic, 2,521 upland, 200
Sea Island, 1,337 Peruvian-.
To
Mld.Upl'da
Wednesday.
*)
j
■
Fair V
-
12:15
*
*
Saturday.
$.32
SHIPPING NEWS.—As shown on a previous page, the
exports of cotton from the United States the past week have
reached 379,130 bales.
The shipments in detail, as made
Up from mail and telegraphic returns, are as follows:
—
follows:
as
.
"
P. M.
.
350,000
303,000
177,000
137,000
423,000
371,000
6.59
6
10H6
9.4
in 9 H
482,000
242,000
70.000
59,000
403,000
320,000
220.000
—
3,000
74,000
404,000
40,000
26,000
360,000
American———— ..187,000
6.79
6
3,000
76,000
411,000
246,000
56,000
<.
1,000
1,000
37,000
2.000
97,000
37,000
The tone of the
.
each
„,
10
week
Amount afloat^„
6
1034
imports of the
Of which American.
a
l
@11 1
2
Total
trpt's
i
2
10 H 6
I \TA
:
d
8.
ioh 6
®
7.35 9J4
7.39
Mia;
to finest
a.
7.57
10Hi
1134
ings, common
Twist.
7.00 9H
19
,
32t Co p
,v.
Of which American.
r
46:000
2,000
2,000
1,000
80,000
449,000
.274,000
78,000
Total stock
Cot'*
'del! 17
54,000
.
38,000
2,000
Forwarded
8H lbs. Shirt¬
6cl. Id"
3.
6,000
24,000
Actual export-,
mt
Cot'h
lbs. Shirt¬
Oct.
64,000
2,000
1,000
Sales, American
i£iS
26.
.
46,000
14,000,North-
Oct. 18
shipments from Russia and America show that
is in need of wheat.
The offerings of native
wheat in France are small and France is importing foreign
wheat on a large scale.
Rainy weather has been hindering
the seeding of winter-wheat in England.
It would appear
that East India needs f urther rain in the United and Central
Provinces, where the Government is advancing money to
relieve the situation.
Heavy rains have occurred n Argen¬
tina.
If they continue they may become a factor in the
the
Eight Months 1912a:
Eight Months 1913.
August 1913.
the other hand,
On
large.
been
have
markets
western
CHRONICLE
THE
1913.]
Flour,
Wheat,
Flour,
Wheat,
Flour,
Bushels.
big
Wheat,
Barrels.
Bushels.
Barrels.
Bushels.
Barrels.
5,096,543
4,303,707
1,209,220
1,374,129
158,400
3,975,650
4,685,603
1,876,177
3,671,425
1,426,322
1,150,789
2,103,275
Ports.
Western Europe
The
situation.
Baltimore
Boston
bushels were sold in the middle of the week
at the outports.
It was all Manitoba wheat, however,
destined for Continental ports, including 185,000 bushels for
Lisbon.
At Baltimore, a car of Canadian wheat has been
sold for shipment to Brazil in November.
At any rate such
a report has been in circulation.
To-day prices were lower
on
good weather and big stocks.
About 900,000
DAILY CLOSING PRICES OF
Sat.
DAILY
New Orleans—.
CLOSING
Puget Sound—.
San Francisco..
210,185
132,
Chicago
_
Other border._.
1,658,587
399,400
32,778
66,530
Holi-
83
88%
84%
89%
85
90
day.
91
Fri.
82%
87%
Quantities.
Hoi. nom. nom. nom. nom.
CORN FUTURES IN CHICAGO.
Mon.
Tues.
Wed. Thurs. Fri
Sat.
cts. 68%
68%
—1
—-
67%
67%
66%
70
69%
69%
68%
other grain, have declined.
The available
supply increased last week no less than 2,686,000 bushels,
against a decrease in the same time last year of 929,000
bushels.
The total available supply in America is now put
at 46,762,000 bushels, against 13,039,000 a year ago, and
31,473,0p0 in 1911.
New low levels have been reached on
further liquidation.
Canadian oats have also been a dis¬
turbing factor.
Also the American stocks are the largest
like
at, this stage of the season. The con¬
is 5,978,000 bushels, against 132,000
a
year ago.
Stop orders have been reached on the way
down and have naturally accelerated the decline.
The
total stock at Chicago amounts to no less than 14,100,000
bushels, against 2,039,000 bushels a year ago.
Under the
circumstances it need excite no surprise that bulls have not
been aggressive.
The big visible supply, the dulness of the
cash trade and the sluggishness of speculation have all had a
depressing^ effect.
To-day ; prices declined.
Stop orders
were reached.
There was a rumor that half a million bushels
of Canadian oats had been brought back here.
The cash
known for many years
tract stock at Chicago
better
was
decline.
the
on
PRICES
CLOSING
28,997,232 146,168,382
Tues.
Holiday.
.
The following
are
$4 10@$4 40
S3 10@$3 50 Spring clears. _
4 80@ 5 00 Kansas straights, sacks. 4 15@ 4 30
4 20@ 4 35 Kansas clears, sacks— 3 75 @ 4 00
Winter, low grades
Winter patents
Winter straights
Winter
4 15
4 35 @
4 10@
Spring patents..
Spring straights
5 95 @ 6 30
3 50 @ 3 90
3 80 @ 4 60
City patents
3 80@
clears
4 55 Rye flow
4 25 Graham flour
GRAIN.
'
N.
Spring, No. 1__
Spring, No. 2
Red winter, No. 2
Hard winter, No. 2, new.
Oats, per bushel, new—
N.
SO 92%
90%
96%
92%
cts.
No. 2
elevator Nominal
No. 2
Standards
44% @45
44@44%
yellow
No.
2
State and
Barley—Malting
STATES PORTS.—We give below a
exports of wheat and flour from
during the month of August and the
the
1913 and
1912.
•
.F.ROM UNITED
compilation showing
United States ports
eight months of the
26,800,497
1,362,879
2,076,220
19
254
Oats &
meal.
3,118,975
6,548,488
1,220,476
307,073
311,621
469,169
208
1,626
Barley
Rye
51,811
491,232
88,948
...
...
61,563,143
86,141,998
3,351,330
Cotton
16,518,569 216,690,224 12,754,235 287,486,191
93,547,244 11,448,478 79,180,960
Petroleum,&c. 12.390.S78
887,988 14,807,881
428,803 13,074,120
Cottonseed oil
28,687,604 139,036,269 10,232,014
11,889,452 93,804,048 10,080,862
Breadstuffs.
Provisions
.
_
149,709
573,908
51,413
Cattle & hogs.
"
Total
*
,
11,225,355 78,785,634
10,588,214 91,966,881
1,070,036 10,909,502
15,504,343 239,689,133
9,613,269 68,937,316
783,063 12,892,989
503,181,455
69,966,719 556,725,813 45,553,286 532,531,503 48,784,283
.....
Including flour reduced to
wheat.
-
The statements of the movement
of breadstuffs to market
prepared by us from figures collected by
Exchange.
The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
indicated below
are
the New York Produce
Receipts
Rye.
Barley.
Oats.
Corn.
Wheat.
Flour.
at—
bush.48lbs. 6m.56 lbs.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 ibs.
Milwaukee.
.
;
i
-
1,251,000
101,000
120,000
248,000
62",000
270,000
902,000
35,000
10,000
17,000
245,000
20,000
6,000
321,000
23,000
22,000
._
62,000
20,000
57,000
"7",000
Detroit
Cleveland
1,983,000
54,000
3,869,000
3,446,000
Duluth
Minneapolis.
Toledo
1,295,000
6,000
834,000
26,000
195,000
9,000
_
•
318,000
245,000
9,165,000
10,358,617
7,768,221
2,789,000
2,605,617
2,580,397
4,309,000 107,654,000
3,757,804 100,324,869
3,530,843 72,631/384
42,437,000
36,671,186
35,141,298
73,000
21,000
Louis
Peoria
Kansas City.
Omaha
327,000
397,146
317,483
Tot. wk. '13.
Same wk. '12
Same wk. *11
Since Aug.
1
1913
1912
1911
Total
1,675,000
1,000
125,000
42,000
671,000
194,000
294,000
436,000
23,000
230,000
205,000
427,000
459,000
5,006,000
5,169,706
3,559,979
~
i~66o
"LOOO
136,000
78,000
9,000
7,000
3,510,000
2,810,099
390,000
484,194
3,200,785
344,441
69,963,000 25,880,000 4,840,000
62,257,071 18,437,479 5,180,892
43,050,207 23,973,442 2,831,563
seaborad ports for
receipts of flour and grain at the
follow:
the week ended Oct. 11 1913
Flour,
York..
Rye,
Barley,
Oats,
Corn,
Wheat,
,
bbls.
bush.
bush.
bush.
2,302,000
293,000
402,000
79,000
71,000
37,000
44,000
241,000
31,000
bush.
bush.
207,000
Receipts at—
New
78,000
Boston..."
37,000
649,000
Philadelphia
50,000
54,000
1,117,000
Baltimore...
New Orleans *
78,000
Galveston
Mobile..
52,000
678,000
31,000
8,000
9,000
1,000
6,000
31,000
1,000
52,000
~
6/666
"¥,666
Montreal
1,303*060
127",666
11,000
5,000
19,000
St. John....
863,000 199,000
47,000
43,430,000 16434000 2587,000
2,187,962
59,711
34,755
51,867,319 3743,375 516,249
grain passing through New Orleans for foreign ports
480,000
6,108,000
424,000
1913.17,263,000 147191,000 45,41S,000
357,561
3,832,546
" 428,856
Since Jan. 1 1912.13,488,631 103038,002 28,623,270
Total week 1913Since Jan. 1
Total week 1912.
on
Receipts do not include
?
through bills of lading.
The exports
ending Oct. 11
seaboard ports for the week
shown in the annexed statement:
Peas,
Barley,
Rye,
Oats,
from "the several
are
bush.
Boston
Philadelphia
,
bush.
bush.
bush.
bush.
bbls.
bush.
15,715
330
8,300
1,950
80,400
12,865
14,000
452,000
____
Flour,
Corn,
Wheat,
841,821
257,515
Exports from—
New York—
583,023
1,000
45,649
4,000
104,000
7,000
48,000
6",000
¥,666
Galveston
Mobile.
Montreal..
St. John
Total week
Week
1912
...
3,493,359
3,615,714
1,000
76,250
29,715 273,914
43,550 251,138 1,882,576
July 1 1913 is as below:
126,000
65,000
71,000
1,232,000
19,000
10,242
Week
July 1
Oct. 11.
1913.
Oct. 11.
1913.
bush.
bush.
since July 1 to—
bbls.
bbls.
United Kingdom...553,393 1,530,858 1,666,759 28,397.697
Continent
87,183
859,809 1,820,274 35,136,507
4,000
330,636
Sou. & Cent. Amer.
6,983
312,275
2,326
20,568
West Indies.
11,364
450,156
Brit. Nor. Am. Col3.
8,145
37,959
IIIIIZ
¥0^660
Other Countries
6,846
47,924
Exports for week and
Total
Total
1912
330
13,311
-Corru-
Since
Since
Since
July 1
126,000
38,895
for the week and since
-Wheat-
Flour-
Week
67 @77
48,545,784
Corn &
75%
71
Pennsylvania--Nominal
EXPORTS OF WHEAT AND FLOUR
calendar "years
—
Rye, per bushel—
44 @45
No. 2, white
No. 3—
elevator Nominal
Steamer
$
9,525,237
946,325
48,528
709,249
41,142,188
18,781/181
1,168,979
The destination of these exports
bushel—•
Corn, per
Wheat, per bushel—f. o. b.
95,191,140
$
9,058,179
554,933
New Orleans
FLOUR.
48,336,878
46,854,262
$
Baltimore
closing quotations:
9,636,468
1,280,332
27,446,360 102,798,466
609,253 25,349,864
meal.
Wheat & flour
*
...
18,051,630
6,730,044
S
$
$
Values
*
45%-46 45^5% 44%-45 44-45
No. 2 white.
46%-47 45%-46 45-45% 44%-45
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
'
Sat.
Mon.
Tues. Wed. Thurs. Fri.
December delivery in elevator.cts- 40%
Holi-39%
38%
37% 37%
May delivery in elevator.
...
44
day. 42%
41% 41%
41
-Cts_46-46%
_46%-47
514,896
867,697
63,936,400 10,916,800
688,183
5,731,832
39,849,378
24,087,022
9,396,862
Corn
•
IN
NEW
YORC.
Wed.
Thurs.
Fri.
OATS
OF
Mon.
Sat.
Standards
Total bush.
Wheat. *bu8h.
St.
67%
Holiday.
70%
May delivery in elevator
DAILY
28,288,720 103,618,399
708,512 42,549,983
8,881,966
bush.
878,537
8 Months.
August.
11,998,077
6,189,178
5,785,143
24,335,304
bbls.
Flour
nom.
■
demand
70,407,261
7,380,253
Wheat—bush.
Chicago
DAILY CLOSING PRICES OF
8 Months.
August.
8 Months.
August.
1911.
1912.
1913.
Exports
from U. S.
NO. 2 MIXED CORN IN NEW YORKSat.
Mon. Tues.
Wed. Thurs. Fri.
Cash corn
Oats,
6,189,178
z Figures are those
BREADSTUFFS, PROVISIONS, COT¬
PETROLEUM.—The exports of these articles
during the mont of August and the eight months for the
short interest is large.
in elevator
7,380,25311,998,077
of Customs Districts,
EXPORTS OF
has also declined, partly in sympathy with
of a big Argentine crop,
talk of Argentine competition in this country, and finally a
poor cash demand.
Sales of Argentine corn have been re¬
ported at our seaboard.
Besides, Buenos Aires prices have
been declining.
The weakness at Buenos Aires has affected
both New York and Liverpool.
In Liverpool, Buenos Aires
cargoes have been pressed for sale.
At the same time, prices
at Buenos Aires have been affected by favorable crop pros¬
pects, lower foreign bids and the weakness of American mar¬
kets.
In other wrords, Argentine and American conditions
have reacted on each other and helped to bring about lower
prices.
The stock in Chicago is now 4,949,000 bushels,
against 1,373,000 a year ago.
The available supply of Ameri¬
can corn increased last week 358,000 bushels, as against a
decrease in the same time last year of 595,000 bushels.
The
first car of new corn arrived at Chicago from Northern Illi¬
nois the other day and sample graded mixed and tested 27%
moisture.
Minneapolis on the same day had a car of new
corn from Nebraska.
The contract stocks in Chicago are
1,922,000 bushels, against 204,000 at this time last year.
Most of the support has come from covering of shorts.
To¬
day prices were lower.
The cash demand improved. The
December delivery in elevator
.4,976
41,441
TON AND
corn
October delivery
1,902,680
282,860
;
compiled, owing to reorganization
of districts.
♦Not
wheat, partly owing to prospects
DAILY CLOSING PRICES OF
27,041
430,000
4,267,889 70,407,261
23,178,471
Total all-
1,659,650
under old arrangement
96%
92%
Wed. Thurs.
Tues.
fan.
delivery in elevator cts_ 85%
Indian
439,731
1,106,442
2,073,979
Portland, Ore..
—
391,682
43,704
54,678
316,454
541,937
407,272
12*, 698
506,491
164,908
291,065
87,617
i
298,219
Fri.
96%
92%
97%
93%
98%
94%
'
Holi-
Sat.
May delivery in elevator—_
;
161,946
52,796
268,030
106,915
Other Gulf
day
97%
96% 95% 94%
PRICES OF WHEAT FUTURES IN CHICAGO.
.
December
Wed. Thurs.
Tues.
Mon.
red
2
Atlantic.
Other
304,666
454,885
WHEAT FUTURES IN NEW YORK.
__-_cts_ 98J*
December delivery in elevator—— 95 %
May delivery in elevator
98%
No.
—
Philadelphia
increased.
latterly
has
demand
export
New York
.273,914 3,238,981 3,493,359 63,905,408
T_...251,138 2,429,358 3,615,714 38,869,646
Week
Oct. 11.
July 1
1913.
bush.
bush.
"l2,298
151,270
450,646
1,555
15,142
720
29,715
251,138
270,796
585,834
3,221
6,903
1,468,670
2,429.358
1148
THE
CHRONICLE
The world's shipments of wheat and corn for the week
ending Oct. 11 1913 and since July 11913 and 1912 are shown
injthe following:
Corn.
Wheat.
1913.
Exports.
Week
11.
!
July 1.
Bushels.
!
Bushels.
Oct.
Oct.
1.
Since
11.
July
1.
July
Bushels.
245,000
4,600,000
89,378,000
45,182,000
8,068,000
59,730,000
40,107,000
16,000
145,000
136,000
639,000
5,452,000
4,992,000
712,000
304,000
616,000
9,322,000
9,848,000
21,664,000
2,418,000
23,258,000 4,464,000
6,944,000
27,248,000
2,814,000
88,356,000
312,000,
Danube.
ArgentinaAustralia.
India
Oth. countr's
Total
15344000
21,633,000
1.
Bushels.
Bushets.
5,456,000
1,632,000
North Amer. 6,312,000
Russia
The
July
Bushels.
1912.
|
Since
Week
Since
Since
|
1913.
1912.
185,880,000 181,734,000 4,761,000
7,934,000
89,238,000
99,439,000 102,017,000
[Vol.
already eased fractionally but without stimulating demand to
any extent.
Export business J isv still held in abeyance,
present prices being too high to interest foreign buyers.
Stocks-held at Aden, China and India points are reported
to be sufficient to meet
requirements for some time and little
is heard from these markets
beyond inquiries for the purpose
of keeping in touch with
prices.
In woolen and worsteds it
is reported that
selling agents are securing numerous ad¬
ditional foreign accounts and interest centres
chiefly in the
offerings that will result and the prices which will be named.
In the. meantime, a moderate businesses
passing on domestic
lines as required
by buyers.
DOMESTIC COTTON GOODS.—The exports of cotton
goods from this port for the week ending Oct. II were4,977
packages, valued at $596,543, their destination being to the
points specified in the tables below:
1913—
•
quantity of wheat and
mentioned
afloat for Europe on dates
corn
follows:
was as
.
Other
Corn.
Jan. 1.
Week.
Jan. 1.
/37
1,964
1
30
935
101
3,440
1,621
2,294
58,969
European.
-
China
United
Total.
-
400
30,693
157
54.601
23,140
42,227
Bushels.
Bushels.
h5«;D0
21,550
334
569
36,048
Total.
Continent.
Bushels.
Bushels.
Bushels.
1913- 14,288,000 20,464,000 34,752,000 13,608,000 13,821,000 27,429,00o
1913.. 13,208,000 21,016,000 34,224,000 13,838,000 16,618,000 30,456,000
Oct. 12 1912.. 17,928,000 18,040,000 35,968,000 11,297,000 19,950,000 31,247,000
Oct.
11
Oct.
4
Oct.
14 1911.. 18,536,000
2,873,000
1,955,000
9,848,000 28,384,000
10,596
Arabia
Kingdom.
Bushels.
Continent.
Kingdom.
.........
Africa
——
West Indies
Mexico
The
supply of grain, comprising the stocks in
principal points of accumulation at lake and
seaboard ports Oct. 11 1913 was as follows:
at
STATES
In Thousands—
STOCKS.
GRAIN
Amcr. Bonded :)Amer.
Amer. Bonded
Corn,
Wheat. Wheal,
Oats,
x——_
Boston
hush.
bush.
bush.
906
600
20
1,276
19
Baltimore
.
__
New Orleans
578
"19
2
602
139
500
132
.
104
346
143
79
Galveston
26
56
607
Philadelphia
629
....
"l08
15
"992
979
1~749
1,280
48
825
11
115
Buffalo
65
167
45
4,829 14,100
177
89
274
"106
1,678
Toledo..
...
Detroit
Chicago.x
bush.
bush.
11
1
257
287
Amer. Bonded
Rye. Barley. Barley,
bush.
bush.
175
/New York
Amer.
Oats,
hush.
1,078
9,854
afloat
"150
;
-
-
-
-
•
~
"
317
Duluth
64
"30
1,842
3,335
1,549
146
10,455
...12,206
2,163
Minneapolis
St. Louis
498
204
388
121
81
352
357
310
2,430
511
'
299
1,765
2,979
20
1,656
Indianapolis:
958
211
1,656
27
997
Peoria
346
418
239
Kansas City...
8,321
Omaha
...
On Lakes....
On Canal and River...
Total Oct.
11
1913..54,494
1913__52,061
1912..34,417
Total Oct. 14 4911—60,280
Total Oct.
4
Total Oct.
'
146
12
....
"52
580
.
272
3,291
1,198
371
44;
8,311 32,361
552
8,149 31,718
3,573
9,412
495
35
3,660 21,709
—
1,685
1,549
1,122
786
5
8
746
168
212
4,772
3,967
2,979
3,890
108
378
CANADIAN GRAIN STOCKS.
Canadian Bonded
In Thousands—
bush.
Montreal.
Ft.William & Pt.Arthur
Other Canadian..
Total Oct.
11
1,250
7,989
3,519
Bonded
Canadian
Wheal. Wheat.
Corn.
Oats.
bush.
bush.
bush.
....
66
Canadian
Oats,
bush.
^
....
1913 ..12,758
595
bush.
bush.
18
.—
3,929
2,580
Bonded
Rye. Barley. Barley,
bush.
482
....
'
....
7,104
6,274
IS
482
24
22
468
..
9,204
35
854
42
73
._
6,947
413
4,402
Total Oct.
4
12
1912
Total Oct.
14
1911
66
1913 ..11,420
Total Oct.
39
SUMMARY.
Bonded
Wheat. Wheat.
In Thousands—
American.
_
bush.
1
Canadian
,
11
Total Oct.
Total Oct.
4
Total Oct.
1913-67,252
1913-63,481
1912-43,621
14 1911-67,277
THE
V
'
3,291
1,198
Oats.
bush.
Bonded
Oats.
bush.
3,291
12
Total Oct.
Corn.
bush.
.54,494
..12,758
Borided
,\
bush.
8,311 32,361
66
7,104
8,377 39,465
8,173 37,992
37^
3,608 10,266
....
4,073 26,111
DRY GOODS
Rye. Barley. Barley,
bush.
552
:
.
552
495
35
....
bush.
1,685
18
4,772
212
482
..x.
1,703
1,571
1,164
bush.
5,254
4,435
3,052
786 .3,929
212
108
37
....
TRADE.
New York, Friday Night, Oct. 17th 1913.
Fair
activity prevails in dry goods markets, with the under¬
Staple cottons continue in a strong position,
owing to the well sold up condition of stocks.
Demand .is
urgent for spot supplies of all descriptions of staple cottons,
tone firm.
but commission houses and selling agents are not in a position
to make the deliveries requested; consequently, the volume
of business is
greatly restricted.
So far as distant require¬
ments are concerned, buyers are not placing any
business,
owing to the high level of prices; which they think will not
long continue.
The reaction in the cotton market has
strengthened the opinion of buyers that raw material will
be cheaper toward the end of the year and that finished
goods will be obtainable at better prices.
Jobbing houses
are, however, sending out their road salesmen with extensive
lines for next spring and look for a good business, as
they
feel that, with the tariff out of the way and retailers
poorly
stocked, buying ought to be brisk.
It is quite likely, though,
that retailers will expect lower prices and will be inclined
to hold off, especially so as the reason for the
poor buying
of the past has been due to expectations of a downward
revision of values after the passage of the new tariff.
Some
business has been placed in wash dress fabrics with
eutters-up
who have been unable to delay purchases
any longer, in
order to get their new
spring lines ready. There is a good
demand for all goods suitable for the
coming holiday trade
and these have contributed largely to the volume of business
put through for fall.
The reaction in cotton prices has
brought unsettlement to the yarn trade and buyers are
holding off in expectation of lower prices.
Prices have
56
23,476
459
51,384
881
2,597
16,930
56,521
58,603
^*,4,977
260,282
2,859
319,204
328
12,781
208
.JJSJV808
40,466
612
rl_.
countries
.1.
The value of these New York
exports
since Jan. 1 has been
$20,294,367 in 1913, against $20,790,571 in 1912.
With prices well maintained business has increased but
little in markets for domestic cottons during the past week.
In view of the fact that there are so
many goods overdue,
merchants are welcoming the lull, and according to
reports,
will be satisfied if it continues during the remainder of the
current month.
The downward tendency of prices for the
staple has encouraged buyers to hold off and as a result they
are
confining purchases to immediate and near-by needs.
In a few instances offerings of goods have been made in
small lots at reductions from recent high prices, and it is
expected further concessions will be made before long.
On
the other hand, prices on some lines for which there is an
active demand are being advanced.
It is an undisputed
fact that stocks in many quarters are light and the need for
goods urgent.
Ginghams hold steady, with an active
demand for yarn-dyed novelties of gingham yarn construc¬
tions; fancy cottons are selling well and bleached cottons
arte firm, with deliveries backward.
Production is limited
and with delays caused by the adjusting of matters at the
custom houses to conform with the new tariff laws affecting
textiles, any material increase in importations is not likely
to take place for the time being.
Print cloths, while egsier
in tone,'are not offered in any large quantities, and buyers
expecting concessions are making purchases only in a moder¬
ate way.
Gray goods, 383^-inch standard, are quoted un¬
changed at 5^c. to 5 ^c.
WOOLEN GOODS.—Increased activity has been wit¬
nessed in markets for men's wear, the cold weather having
stimulated demand.
Increased inquiries have been reported
for overcoatings and
heavy " Suitings for immediate use.
Prices rule steady, with some predicting advances, especially
on spring goods, when duplicating of orders begins.
Dress
goods are active, with a good demand for spring light-weights.
,
120
Milwaukee
28,970
1,974
46
4,828,00n
visible
UNITED
465
...
Central America
South America.
Other
.
,
Total.
granary
Since
Week.
,
India
United
1912-
Since
New York to Oct. 11—
Great Britain.
Wheat.
xcyii.
FOREIGN DRY GOODS.—Linen merchants have been
the new tariff went into effect. The demand
considerably and while reductions in prices
have been limited with larger importations, concessions are
expected.
Burlaps have ruled quiet, owing to the holiday
here and holidays in Calcutta at the beginning of the week.
Buyers have displayed little interest and prices have ruled
nominal.
Light-weights are quoted at 6.40c. and heavy¬
weights at 8.10c.
very busy since
has broadened
,
Importations & Warehouse; Withdrawals of Dry Goods.
Imports Entered for Consumption for the Week and Since Jan. 1.
Week Ending
Oct.
•
11
1913.
Pkgs.
742 '
3,183
Cotton
Silk.--.-
1,702
1,927
2,975
-
-
-
Miscellaneous
Total 1913
Total 1912
—
—
Warehouse
-----.10,509
8,759/
Withdrawals
'
Value.
25,565
106,667
.60,380
65,524
94,120
6,336,245
30,264,740
26,959,401
14,754,592
9,499,926
S
170,287
901,713
788,022
.
545,299
397,621
2,802,942
2,356,699
Thrown
1913.
Pkgs.
$
Wool
Flax...
Since Jan. 1
Value.
Manufacturers of—
352,256
410,179
the
upon
-
.
87,814,904
94,576,033
Market.
Manufactures of—•
1,022
4.808
Wool
Flax
Total withdrawals
Entered for
consumption—_
Total marketed 1913
Total marketed 1912-.Imports Entered
Manufactures of—
for
Wool
4,309,085
2,802,942
168,928
352,256
28,779,299
87,814,904
7,112,027
2,915,330
521,184
596,525
116,594,203
117,409,708
Warehouse During Same
1,007
1,652
275,322
7,114
..10,509
1,421,566
2,802,942
«201,802
352,256
33,496,211
87,814,904
17,623
11,598
4,224,503
2,982,492-
554,058
592,675
121,311,115
117,844,365
1.518
2,416
Flax
Miscellaneous
«««««.
Total imports 1913—
Total imports 1912—
_
_.
Period.
5,279,209
10,919,509
4,490,114
7,279,178
5,528,201
521
Silk
Enteredfor"consumption.
229,609
464,059
199,542
253,034
4,187,085
6,163,986
4,991,283
22,979
39,579
11,560
33,109
94,575
—
Cotton
Totetl
15,773
33,303
10,661
29,131
80,060
29,811
11,518
—
Miscellaneous
212,570
1,249,096
589,118
1,290,372
967,929
19,302
10,509
Silk.
3,825,470
9,611,475
1,446
5,938
6, OSS
Cotton
-
-
„
f
The Governor was found guilty
eight charges preferred against
him by the Assembly.
The vote on the first four Articles
occurred Thursday (Oct. 16), and on the other four on
08TY BEiWIWf,
Ky.—School Debt Not to Be Considered in
City's Borrowing Capacity.—Judge Frank M.
Tracy in the Kenton Circuit Court on Oct. 9 upheld the
contention of the Board of Education that the proposed
$150,000 high-school-building bonds to be voted on at the
coming election are purely an obligation of the school dis¬
trict which comprises the territory limits of Covington and
must be considered altogether separate and apart from any
obligations of the city as a municipal corporation.
The
ruling was made in the friendly suit brought by J. R. Coppin,
a tax-payer of Laconia, who inaintained that the proposed
bond issue was strictly a municipal debt, and when added to
the city's other debt caused the same to exceed the limitation
imposed by the constitution. Judge Tracy, according to a
Covington,
1—Filing with the Secretary of State a
contributions.
Guilty, 39: Not Guilty, 18.
2—Perjury, in making affidavit that this
39: Not Guilty,
legislative intent that the bonded
general indebtedness of
7—Corrupt use
By unanimous vote the Court decided against disqualifying
holding public office in the future.
Judge
Cullen was also excused from voting on this question.
On the first and second Articles, five Judges, CollinJ
Cuddeback and Hogan, Democrats, and Hiscock and Miller,
indebtedness authorized
Board
at the
Republicans, stood for conviction while the other four
Cullen and Bartlett, Democrats and Chase and
Werner, Republicans, voted to acquit.
Of the Senators,
22 Democrats and 12 Republicans voted for conviction and
8 Democrats, 5 Republicans and 1 Progressive for acquital
on these Two articles.
In voting on the fourth Article Judges
Bartlett, Collen, Chase, Cuddeback, Hogan and Werner
stood for conviction and Judges Cullen, Hiscock and Miller
Judges,
chargeable against the city's sinking fund, but this oblimerely of the arbitrary division of the city into two distinct
bodies corporate.
The taxing power as a matter of public convenience and
policy is vested exclusively in one.
It acts for the benefit of the other in
such matters.
If the Board of Education had been given the taxing power,
doubtless the Legislature would have imposed on it the obligation of re3ment would have been inconvenient
deeming its bonds, but such an arrangement
repr
and cumbersome.
Inasmuch as the law designates the city as the representative of the Board of Education in the matter of the collection of its
revenue, why cannot it also constitute it its agent in the payment of its
obligations?
If the independence of the board is maintained and preserved
in the performance of one act by the city, why is it not in the other?
As I
have stated, it seems to me that the legislative intent is that the bonds in
question must be considered the indebtedness of the Board of Education
and not of the city.
The attorneys will prepare a judgment accordingly."
Form of Govern¬
Approved.—The question of establishing a commission
of government (V. 97;* p.' 540) carried at the election
Ennis, Ellis County, Tex.—Commission
new
charter providing
the vote being 267 to
for
the levy.
in favor of a
Property.:—The Legislature of 1913
would be taken as a basis of
"
•
•
,
;
Japan.—Bonds Drawn for
>
making
.
.
Redemption.—Notice is given
preceding page) that 20,000,000
yen of the 5% loan bonds (internal issue) will be drawn for
redemption in Japan on Oct. 20, redeemable on Nov. 25
1913 in Japan.
For the convenience of the holders of these
bonds, a list of the drawn bonds wall be posted by the Yoko¬
hama Specie Bank, Ltd., 55 Wall St., N. Y. City, about
Nov. 25, by whom they will be purchased on or after that
date at the current buying rate of exchange on Japan.
Louisiana.—Constitutional Convention.—In the "Chron¬
icle" of September 20, page 829, reference was made to the
Act passed at the recent extra session of the Legislature
providing for a vote October 28 on the question of holding a
constitutional convention and electing delegates thereto.
The AGt, a copy of which is now before us, provides that the
convention shall convene November 10 1913 and consist of
80 delegates.
As to powers and restrictions it is stipulated
(see official advertisement on
that:
.
The said convention
shall have full power to frame
submission to the people, a new
ever,
ordaining or
Inconsistent with any existing
a
this
and adopt, Without
constitution for the State,
shall be, and is hereby,
framing any article or ordinance—
that the convention
provided, how¬
prohibited from enacting,
,
~j
constitutional provision, provided that
prohibition shall not apply to any
article or articles, ordinance or
of the city of New Orleans.
b On the subject of the State
mentioned, existing provisions
©ffGCt. '
debt other than the bonded debt above
in regard thereto to remain in full force and
j
Changing the provisions of existing laws touching,
affecting the following subjects:
1. Any public board of commission of the State or
division
thereof.
c
manner
Any educational or eleemosynary institution
3. The educational system of State.
4. Parochial or municipal corporations.
2.
6.
duties or compensation
Registration or elections.
7.
The
5.
The term of office,
levee
relating to or in any
•
....
of any political sub¬
of the State.
of any existing officer.
system.
The other sections
of hold¬
presiding officer; salary of delegates,
notice of election and
nomination of delegates.
State.—Impeachment Court Votes to Oust
Governor Sulzer.—The High Court of Impeachment decided
York
yesterday (Oct. 17) by a vote of 43 to 12 to remove William
Sulzer from the'office of Governor.
All of the Judges of the
Court of Appeals, with the exception of Chief Judge Cullen,
who was excused from voting, stood for conviction on the
final vote.
Senator Wende was also excused from voting
of his nomination and
that the respondent did take advantago
candidacy for office to seek to personally enrich himself by diverting the
contributions which he might receive for campaign purposes.
I find that the respondent knowingly signed a false campaign statement,
and I find that he did verify this statement under oath, knowing it to be
false.
for reasons
be my per¬
this respondent.
The use of the money for
his own purposes other than political work was not an offense. On the con¬
trary, it is very doubtful whether it was not within his legal right to use it
for any purpose for which he saw fit.
As to his filing a false certificate, the Corrupt Practices Act did require
him to state the amount and sources of collection contributions, and in my
judgment nearly all, possibly with two or three exceptions, of the moneys
paid to him were such contributions.
I find, however, that his oath to the truth of this statement was extra¬
judicial, so far as it related to his receipts. The election law does not require
a verified statement, while the penal law, which does require a verified state¬
ment, does require that statements should contain the receipts of the party
At
I shall vote not. guilty, on the articles,
to dictate such a course, whatever may
the same time
to
which seem
me
sonal opinion of the acts done and committed by
First, a moment as to the character of the acts.
making the statement.
.
.
.
.
of legal perjury, but I am frank to say that if those
committed during his incumbency in office I should have re¬
He was not guilty
acts had been
garded his moral offense great enough to require his removal. But I am of
opinion that they cannot be considered as ground for impeachment, and
that it would be an eminently dangerous doctrine to treat them as such.
The question, however, whether these acts of the respondent constituted
crimes is not decisive of the issue before us.
They displayed such turpitude
and delinquency that, if they had been committed during the respondent's
incumbency of office, I think they would require his removal.
Judge Werner, who voted "not
articles, said in part:
guilty"
on
the first two
question of his guilt were dependent entirely upon the facts which
I should, of course, join with those
declared this respondent guilty, because we know that he has
committed acts which are so morally indefensible that they can hardly be
described in language of judicial air and form.
If the
have been established beyond dispute,
who have
■
Judge Miller's opinion was in part as follows:
A grave offense, committed before
for impeachment, provided it
cause
relation to
induction into office, may constitute
so touches the office, bears such a
the discharge of its duties as to unfit the offender to discharge
those duties, and,
also, provided that the consideration
volve a review of the action of the people at the polls.
In my opinion, the evidence in this Case establishes
of it does not in¬
such a cause.
The
discussed.
We can entertain no differences of view re¬
The respondent in violation of law made a false statement
under oath of the contributions to his campaign fund, not as the result of
carelessness br misunderstanding of the law, but deliberately in the con¬
summation of a preconceived plan to collect as many and as large contri¬
butions as possible and then to conceal the fact.
a.
I agree tnat he did not commit perjury or larceny, but his offense is not
lessened by his moral theft of moneys given him for his campaign or by the
fact that he made a false oath which the statute did not require. The offense
charged in Article 1 was committed after the election. Its consideration then
does not involve a review of the determination of the electors.
It was a
political offense, an offense directly against the body politic and not one
whose immediate consequences were confined to particular individuals.
facts have
been
specting them.
Judge Bartlett, who voted "not guilty", gave
ing reason:
•
.
the follow¬
My position is that under the existing constitution the power to impeach
does not apply to any acts of misconduct committed when the accused
person was not in office.
I agree that the statute upon a violation of which
this article is based required the respondent to file a statement of his cam¬
paign expenses: but, as I read the election law of that statute, either failing
to file the required statement or filing a false statement, it does not con¬
stitute a crime.
The constituent to file such a statement does not apply
merely to officers elected, but to all candidates.
In the last election it
of the Act relate to the manner
ing the election and the selection of delegates, meeting place
of convention, oath to be administered to each delegate by
New
^
in part:
I find
Adopted.—An
passed practically a new revenue law (Chapter 58) which pro¬
vides, among other things, for the assessment of all property
at its cash value.
Heretofore all property has been assessed
at its cash value, but only 40% of such assessment has been
utilized in determining the rate.
For example, property the
actual cash value of which was $1,000 would be assessed for
$1,000, but only $400
Thirty-seven Senators (24 Democrats, 12
Judge Cullen gave it as his opinion that the act s charged
against the respondent displayed such turpitude and de¬
linquency that if committed after he took the office they
would be sufficient ground for removal.
Judge Cullen said
for a commission form of government,
199.
Idaho.—Assessment of
acquittal.
Republicans and 1 Progressive) favored conviction and eleven
(7 Democrats and 4 Republicans) voted to acquit.
While voting "not guilty" on these articles, Presiding
of 395 to 115.
Eveleth, Minn.—Commission Government
election held Oct. 7 resulted, it is reported,
the price of
Mr. Sulzer from
tion is the result
held Oct. 7 by a vote
Guilty,
the vote or action of
public officers.
Not Guilty—Unanimous.
8—Using his authority or influence as Governor in affecting
securities on the Stock Exchange.
Not Guilty—Unanimous.
that the bonds are
ment
Guilty—Unanimous.
of office in attempting to influence
Not
The Court is not unmindful of the fact
the city.
statement was true.
18.
witnesses to withhold testimony from the Legis¬
lative Committee.
Not Guilty—Unanimous.
4—Misdeameanor, in suppressing testimony by deceit, fraud, threats and
menaces.
Guilty, 43; Not Guilty, 14.
5—Misdeameanor, in wilfully preventing a witness (Colwell) from
appearing before the Legislative Committee.
Not Guilty—Unanimous.
6—Larceny, in converting campaign contributions to his own use.
extended argument, the Court is of the opinion
"Without entering into an
by Sec. 28 of the Act of 1912 should be considered a liability of the
or Education, and should not therefore be considered in arriving
,
false statement of campaign
3—Felony, in bribing
Cincinnati newspaper, says:
that it was the
The vote on each Article was as follows:
Friday.
Determining
question.
Articles 1, 2 and 4 of the
on
Items.
INews
form
the removal
on
STATE AH®
1149
CHRONICLE
THE
1913.]
Oct. 18
applied to Mr. Straus, Mr. Hedges and Mr. William
it is going too far to say that this violation of this
such application or relation to the office of Governor, any
such application as will enable us to hold that his misconduct in this respect
constituted misconduct in office.
Sulzer.
It
seems to me
statute has any
Judge Collin said in part:
that the respondent, William Sulzer, as a
appropriated large sums
con¬
con¬
tributed to him as such candidate and violated the statute of the State;
that he made a false oath to that statement and committed moral, if not
legal, perjury, and that he attempted to suppress testimony.
„
I hold that he lacks personal honor, integrity and regard for the nature'
and obligations of his oath.
Judicial notice may be taken of the facts, for
they are matters of common experience and knowledge, that honest and
high-minded men in the various departments and institutions of the State
I find that it is clearly proved
candidate for election to the office that he holds,
of money for uses and purposes other than those for which they were
tributed to him; that he wilfully made a false statement of the sums
U5<>
I.TIIE
throughout the State will
with him and
CHRONICLE
not
willingly and frankly associate and confer
participate with him fearlessly and with confidence in the
affairs of the State.
As its Governor he is
a
menace
to
its welfare and
tranquillity.
officer
so
One of the purposes of the power of impeachment is that an
characterized may be removed from the office which he holds.
We
are all, I
think—certainly a majority of us—agreed that the respond¬
wilfully and wantonly violated the statute relating to corrupt practices,
which required him to file a complete and honest statement of the contri¬
butions which he had received for
campaign purposes.
I am unwilling to
accept the view that the constitution arbitrarily forbade the Assembly to
impeach or forbids this Court to try the respondent because that offense
was committed before he
actually entered upon his office.
The offense
was
committed
after
his
election,
and therefore,
,
■
^
In
previous news,item on this matter ("Chronicle" of
Sept. 27, page 901) we gave in brief form a summary of what
took place up to Sept. 24, when the Court of
Impeachment dis¬
posed of the last of the questions raised by counsel for Gov. Sulour
regarding the organization and jurisdiction of the Court and
began the taking of testimony.
Among the first witnesses
were Jacob H. Schiff and
Henry Morgenthau, who testified
that they had placed no restriction on the use of their contri¬
butions of $2,500 and $1,000,
respectively.
Settling an
argument between counsel as to the larceny charges in the
impeachment articles, Presiding Judge Cullen ruled that
questions as to the use of contributions were admissible.
Upon being recalled, to -the. stand on Sept. 25, Mr. Schiff
zer
reiterated that his contribution was not made especially for
campaign purposes, and testified further that he had recently
been asked by Samuel 1, Frankenstein, who
represented him¬
self as a former partner of Gov. Sulzer, if he would
accept
re-payment of his gift of $2,500.
Several other witnesses
testified to having made Contributions not accounted for
by
the candidate in his statement.
The defense endeavored to
shut out
testimony concerning unreported contributions not
covered by the articles of impeachment, but
Presiding Judge
Cullen ruled that the evidence should be admitted and this
ruling
sustained by a unanimous vote of the Court.
On Sept. 26 Duncan W. Peck, State
Superintendent of
Public Works, testified that Gov. Sulzer told him about
July 19 to "do as I shall—deny it," when called by the
Frawley Committee to give evidence about his $500 contribu¬
tion to Sulzer's campaign fund and which was not mentioned
in
the
candidate's
sworn
statement.
When
reminded
by
.
Mr.
_
Sulzer's
$40,400 00
40,462 60
_
_
was
29,300 00
14,400 00
3,200 00
made
was
as
nearly as possible.
The statement showed that
$3,450 of the unreported contributions had been
designated
for use in his
campaign.
■
.
The next step taken
by the Court was on Oct. 13, when
Presiding Judge Cullen made the following announcement:
The Court
desires counsel for both
parties to argue further the quetions
whether the acts and
conversations testified to by Peck,
Morgenthau and
Kpn, or either of them, can be considered as
being acts of misconduct for
which the respondent can be
convicted under Article 4, or only as corrobo¬
stated in the charges; and whether
rative evidence of the other allegations
this Court has the
power to amend the
mclude the acts so as to include them.
articles, if they
are
insufficient,6to
The
Court considers the
question which it has asked you to argue of
considerable importance and
therefore, so that your argument be deliberate
and on reflection, it will
give you until to-morrow morning at 10 o'clock,
at which time
you will appear here, if you
desire, either side, to comply
with the request of the Court.
And especially I wish to
impress on the counsel and on all persons who
are in attendance in
this Court that notification of this desire on
the part
of the Court does not indicate
any views as to the merits of this case
having been taken by the Court or any members.
It is simply to get your
views on this
question, on which, with all respect to the
great ability and
earnestness with which this case
instruction and information.
was
argued,
*«'•
we
would like to have further
'•
The application to amend the articles of
denied on Oct. 15, Judge Cullen
nouncement to the
newspaper
impeachment
making the following
correspondents:
"Gentlemen, the application to amend the articles
was
an¬
of im¬
peachment has been denied.
The Court has decided that
Article 4 is broad enough to admit the
consideration of the
Peck incident as the basis of a substantive
charge."
The proceedings of Oct. 16 and
17, when the Court
adjourned sine die, have already been referred
was
Peck that he would be under oath,
xcvh.
_______
The purpose for which each
contribution
set forth
that argument—which
might somotimes apply—that the people by electing him had absolved him
from his fault, does not apply here.
into the record the
following statement of
financial transactions
during the campaign:
Contributions not reported
Cash paid to brokers
Contributions delivered to Sulzer_
Cash deposited by Sulzer in
bank
Checks indorsed by Sulzer
Judge Hiscoek said:
ent
[Vol.
New York
State.—Proposed Constitutional
to above
Amendments.—
In addition to voting for
a Chief Judge and Associate Judge
Appeals, members of the Assembly and
county and district officers in place of those whose terms of
office expire December 31 1913, the electors of this State
of
the
Court
of
will have submitted to them
Constitutional
amendments.
on
November 4
The
first
of
four proposed
amends
these
Sulzer, according to the Section 7 of Article I to read as follows:
witness, said: "That's nothing—forget it."
Section 7.
When private property shall be taken for
Henry Morgen¬
any public use, the
thau, recalled to the stand, testified that about Sept. 2 or 3 compensation to be made therefor, when such compensation is not made
by the State, shall be ascertained by a jury, or by the
Sulzer asked him to "be easy with me," if called before the
Supreme Court with or
without a jury, but not with a referee, or
by not less than three commissioners
Impeachment Court.
Morgenthau was also asked, he said, appointed by a court of record, as shall be prescribed by law. Private
roads may be opened in the manner to be
prescribed by law; but in every
to treat his $1,000 contribution as
"personal between us." case the necessity of the road and the amount of all
damage to be sustained
When the Court re-convened Sept. 29* evidence was intro¬ by the opening thereof shall be first determined by a
jury of freeholders,
and such amount, together with the
expenses of the proceedings, shall be
duced in support of the charge contained in Article 7 that the
paid by the person to be benefited.
General laws may be passed
permitting
Governor had attempted to coerce and intimidate law¬
the owners or occupants of agricultural lands to
construct and maintain,
for the drainage thereof, necessary drains, ditches and
makers by threatening his use of the veto
dykes upon the lands
power on bills in¬
of others, under proper restrictions and with
just compensation, but no
troduced by them unless they would pledge themselves to
special laws shall be enacted for such purposes.
The Legislature may authorize cities to take more land and
vote for his direct primary measure.. A considerable
property than is
por¬
needed for actual construction in the
laying out, widening, extending or retion of this testimony was ruled
out, however, by the locating parks, public places, highways or streets; provided, however, that the
Presiding Judge.
On Oct. 2 the lawyers for the Governor additional land and property so authorized to be taken shall be no more than
sufficient to form suitable building sites abutting on such park, public place,.
entered a formal motion to strike out Impeachment Articles
highway or street.
After so much of the land and property has been appropri¬
ated
Nos. 3, 4, 5 and 8, which charged that by
for such park, public place, highway or street as is needed therefor, the
bribery and threats" remainder
may be sold or leased.
the Governor was guilty of trying to prevent witnesses from
Explanation—Matter in italics is new.
testifying before the Frawley Legislative Committee; that
Amendment No. 2 provides that there shall be no con¬
as Governor he used the
powers of his office to affect the vote
stitutional limitation upon the power of the Legislature to
of legislators, and that while Governor, and
maintaining a enact laws for the
protection of the lives, safety or health
speculative account in a stock-broker's office, he used the
of employees; for the payment of compensation for
injuries
powers of his office to affect the price of securities.
Presi¬
to or death of employees resulting from such
injuries; and for
dent Cullen disposed of this question as he did the
original' the adjustment of issues
arising under such legislation.
motion of the defense to dismiss from the Articles of
Impeach¬
Amendment No. 3 provides for an increase of two in the
ment those charging perjury and theft in
connection with number of
county judges in Kings County; also provides
unaccounted-for campaign contributions.
He ruled that
that the Legislature may increase the number of
county
inasmuch as a Court of Impeachment was like no other
judi¬ judges in any
county not to exceed a total of one judge for
cial body, and was called on to decide
questions of fact and
every 200,000 population or major fraction thereof; prescribes
questions of law inextricably blended, "the matter must go
the time of election of additional county
judges; and pro¬
until the end of the case.
vides that the term of all county judges shall begin on the
The Court then adjourned until
Monday, Oct. 6, when the first
day of January following I their election.
prosecution was permitted to re-open its case and introduce
Amendment No. 4 provides for the use by the State of
evidence to show that Sulzer had solicited and received a
not to exceed 3% of the forest preserve lands for the con¬
contribution of $10,000 from Allan A. Ryan, who testified
struction and maintenance of State-controlled reservoirs for
also that Sulzer "asked me to go to
Washington to see
municipal water supply, for the canals of the State and for
Senator Root and request him to see Mr. William Barnes
the regulation of the flow of streams and
imposing regulations
with a view of haying him get the Republican members
of
for the apportionment between
property and municipalities
this body to vote that this Court had no
right to try him benefited
by the expense thereof.
and. impeach him."
Judge Cullen ruled that this part of
North Carolina.—Legislature Adjourns—'TheNorth Car¬
the testimony should be stricken from the record and
that
olina Legislature, wThich lias been in special session since
ruling was at the time sustained by a vote of 32 to 18.
But
Mr. Ryan was recalled to the stand on Oct. 7 and
Sept. 24, adjourned at 8:30 p. m. Oct. 13.
supple¬
mented his previous testimony by
swearing that the Governor
Ohio.—Propositions to be Voted upon at General Election.
had begged him to have" De
Lancey Nicoll get Charles F. —At the general election on Nov. 4 a vote will be taken on
Murphy to influence the Democratic Senators to stop the four constitutional amendments proposed by the General
.
trial.
•
This evidence
was made
possible when the Court on
by a vote of 41 to 14 to re-consider its deter¬
mination of the previous day to exclude such
testimony.
The Governor's lawyers attempted to introduce
evidence
showing that campaign gifts had been declined by the Gover¬
nor, but this testimony was barred by a
ruling of Judge
Cullen and a subsequent
sustaining vote by the rest of the
Oct. 7 decided
Court.
the
The Court also blocked the effort to show
through
testimony of John A. Hennessy that fraud had been dis¬
Highways Commission, of which Duncan
covered in the State
W. Peck
nished
The
ments
a
was a member.
The defense claimed that this fur¬
motive for Mr. Peck testifying as he did.
following day (Oct. 9) was devoted to closing argu¬
by counsel.
Judge Parker, for the prosecution, read
Assembly,
and
one amendment proposed by initiative petition
proposed by supplementary petition.
The amend¬
submitted by the Legislature are as follows:
law
a
ments
Amendment to Sec. 12, Art. XII., exempting from taxation bonds of
the
State of Ohio, and of any city, village, hamlet,
county, road district or
township in the State, and bonds issued in behalf of the public schools of
Ohio and the
as
means of instruction in connection therewith.
Amendment to Sec. 4, Art. XV., making women
eligible to
members of boards of, or positions in, departments and
affecting,
caring for,
appointment
institutions
and children.
Amendment to Sees. 1, 2, 3, 4 and 7, Art. X., gives
Legislature power
to pass laws for the election or appointment of
county and township officers
and provide a form of government for counties and
townships.
or
women
Amendment to Sees. 1, 2 and 18, Art. III.,
provides for the appointment
by the Governor of the Secretary of State, Auditor, Treasurer and AttorneyGeneral.
These officials are now elected by the,
people.
The other amendment to be voted upon
so
as
to
provide for
a
changes Art. XI."
smaller Legislature, the. House to con-
Oct. 18
The
sist of 50 members and the Senate 22 members.
St. Paul, Minn.—Tenders of Bonds Requested.—The City
Comptroller, W. C. Handy, sends us a letter under date of
Oct. 1, saying that the Sinking Fund Committee from time
to time is in a position to purchase St. Paul securities for the
various sinking funds.
The committee will welcome an
opportunity to consider the purchase -of such bonds at pre¬
vailing market rates.
pro¬
posed law referred to above prohibits the shipment, convey¬
ance
or
receiving of intoxicating liquors into territory in
which the sale of intoxicating liquors as a beverage is pro¬
hibited.
'
Pennsylvania.—Proposed Constitutional Amendments.—
Five proposed amendments to the State constitution will be
submitted to the voters at the general election on Nov. 4.
One of these, permitting the issuance Of $50,000,000 bonds
by the State for improving and rebuilding highways, has
already been referred to in these columns. The other amend¬
ments to be voted upon permit special legislation regulating
labor, extend the terms of office of certain judges, authorize
the classification of certain subjects of taxation and allow
an increase of indebtedness by counties and municipalities.
ments
a
A
full
m.
1913.
1
to
are
Bond Calls and RedemptionsColo.:—Bond Call.—The
called for payment Oct. 31:
bond No.
of the
6
North
Denver
are
follows:
as
AKRON CITY SCHOOL DISTRICT (P. O. Akron), Summit County,
Ohio.—BOND SALE.—On Oct. 7 the $25,000 4>2 % 24-yr. (aver.) school
bonds offered without success on Oct.
COUNTY
(P. O. Gainesville), Fla.—BOND ELECTION
PROPOSED.—Reports state that the County Commissioners contemplate
calling an election to vote on the question of issuing about $1,000,000 road
ALACHUA
bonds.
ALBANY, N. Y.—BOND SALE.—On Oct. 15 the ten issues of 4^%
aggregating $738,000 (V. 97, p. 967), were awarded jointly to
Kinnicutt & Co. and E. H. Rollins & Sons of N. Y. at 101.393
bonds,
Kissel,
and
Other bidders
int.
Dist.
No.
Y._100.58l|
Linn County, Ore.—BONDS AWARDED IN PART.—
10-15-yr. (opt.) gold sewer bonds offered without success
on July 31 (V. 97, p. 389) $18,000 was awarded on Sept. 20 to John Ken¬
nedy of Eugene at par and int.
'
ALBANY,
Of the $22,500 5%
.
ALGER, Hardin County, Ohio.—BOND SALE.—The $3,740 6%
5-year (aver.) McConnell St. impt. bonds offered on July 24 (V. 97, p. 65)
were awarded on that day to the First National Bank of Barnesville.
ALLIANCE, Stark County, Ohio.—BOND SALE.—On Oct. 13 $9,500
5% 10-yr. fire-dept. bonds were awarded, it is stated, to Stacy & Braun of
Cincinnati at 102.57.
We
are
the
Tex.—NO BOND ELECTION.—
Atascosa County,
near
advised that the reports stating that an election would be held in
future to submit to a vote the question of issuing $25,000 water
bonds are
9.
Washington Park Storm Sewer Dist., bonds Nos. 123 to 128 incl.
Sanitary Sewer Bonds.
Sub-district No.11 East Side Sanitary Sewer Dist. No. 1, bond No. 62.
Sub-district No. 12 East Side Sanitary Dist. No. 1, bond No. 29.
„
erroneous.
ANN ARBOR,
Mich.—BONDS VOTED.—The proposition to issue
$450,000 4% bonds to purchase the plant of the Ann Arbor Water Co.
carried at the election held Oct. 13 by a vote of 1,111 to 468.
ARCOLA, Douglas County, 111.—BOND OFFERING.—Proposals will
5% coupon water-works bonds, Auth.
107 at the election held Sept. 22 (V. 97, p. 754).
Denom.
$250.
Date July 1 1913.
Int. payable ann.
Due $1,250 yearly on July 1
from 1919to 1928incl.
F. M. Groves, City Clerk.
be received until Oct. 22 for $12,500
Improvement Bonds.
■
Arlington Park Improvement Dist., bond No. 58.
Capitol Hill Improvement Dist, No. 5, bonds Nos. 133 and 134.
Cherry Creek Improvement Dist. No. 3, bonds Nos. 36 and 37.
East Denver Improvement Dist. No. 5, bond No. 66.
•
East Side Improvement Dist. No. 4, bonds Nos. 5 and 6.
Montclair Improvement Dist. No. 1, bond No. 22.
North Side Improvement Dist. No. 3, bonds Nos. 190 and 191.
North Side Improvement Dist. No: 7, bond No. 11.
North Side Improvement Dist. No. 13, bond No. 38.
North Side Improvement Dist. No. 15, bond No. 17.
North Side Improvement Dist. No. 19, bonds Nos. 4 to 6 incl.
North Side Improvement Dist. No. 21, bonds Nos. 9 to 15 incl.
South Denver Improvement Dist. No. 9, bonds Nos. 17 to 19 incl.
,
.
were:
Estabrook & Co., N. Y
101.2161Rhoades & Co., N. Y____._100.567
A. B. Leach & Co., N. Y.__ 100.631 Adams & Co., N. Y
.100.374
•
Sewer
(V. 97, p. 967)were awarded to
1
Weil, Roth & Co. of Cincinnati at par, interest and blank bonds.
1,
..
Storm
■
..
ANCHORAGE,
Storm Sewer Bonds.
No.
Sub-district
bonds
following
Oct. 27.
Bond Proposals and Negotiations this week
have been
the
Denver,
V •'
description of bonds offered for sale is essential.
White, Weld & Co., N.
on
'
^
advised that the vote
question of establishing
a commission form of government (V. 97, p. 1059) was 1,545
"for" to 2,070 "against."
election held Oct.7
■ \
•.
_■
Delivery of the bonds to the commissioners must be made on
Nov.
public election.
Springfield, Mo.—Vote^We
that the Sinking Fund Commis¬
approximately $30,000 of munici¬
marked "Sinking Fund Commissioners of
offers,
Trust Co. until 12
Phoenix, Ariz.—Commission Form of Government Adopted.
—According to reports, the question of establishing a com¬
mission form of government was approved by the voters
-on Oct. 11 by a vote of 958 to 313.
east at the
page
Westmount," will be received at the offices of the Montreal
for a period
assented
;
Sealed
required to
levy a tax to pay said interest and Sinking-fund charges, as required by
Section 10 of Article IX, until after said properties shall have been operated
by said counties or municipalities during said period of one year.
Any
or the said municipalities or counties may incur indebtedness in excess
of
7%, and not exceeding 10% of the assessed valuation of the taxable prop¬
by three-fifths of the electors voting at
Requested.—
debentures—those issued by the City of Westmount
pal
preferred.
provide for the interest and sinking-fund charges accruing thereon
erty therein, if said increase of indebtedness shall have been
subsequent
on a
sioners desire to purchase
The last-named amendment adds. Section 15 to Article IX and provides
no obligations issued by any county or municipality, other than Phila¬
delphia, to provide for the construction or acquisition of water-works,
subways, underground railways or street railways, or the appurtenances
thereor, shall be considered as a debt of a municipality, within the meaning
of Section 8 of Article IX, or of this amendment, if the net revenue derived
from said property for a period of 5 years, either before or after the acqui¬
sition thereof, or, where the same is constructed by the county or municipaUty, after the completion thereof, shall have been sufficient to pay in¬
terest and sinking-fund charges during said period upon said obligations,
or if the said obligations shall be secured by liens upon the respective prop¬
erties, and shall impose no municipal liability.
Where municipalities or
counties shall issue obligations to provide for the construction of property,
as herein provided, said municipalities or counties may also issue obliga¬
until said properties shall have been
completed and in operation
of one year; and said municipalities and counties shall not be
of Debentures
Que.—Tenders
Westmount,
Attention is called to the official notice among the advertise¬
that
tions to
1151
CHRONICLE
THE
1913.]
vote of 145 to
ASHLAND,
Ashland
County,
Ohio.—BOND
OFFERING.—Pro¬
posals will be received until 12 m. Nov. 10 by Edgar Koehl, City Aud., for
$1,200 5H% fire-dept.-hose bonds.
Auth. Sec. 3939, Gen. Code.
De¬
nom. $400.
Date Nov. 10 1913.
Int. M. & S.
Due $400 yrly. on Sept. 1
from 1914 to 1916 incl.
Cert, check for 5% of bonds bid for, payable to
City Treas., requiredBonds to be delivered and paid for within 10 days
from time of award.
Purchaser to pay accrued interest.
,
ASHLAND
Oct.
were
Paving Bonds.
for $55,671
West Denver Paving Dist. No. 1, bond No. 25.
Upon the request of the holders of any of the above bonds received ten
days before the expiration of this catl, the Treasurer will arrange for their
payment at the Bankers Trust Co., New York City, but not otherwise.
Ludlow, Ky.—Bond Call.—Payment will be made at the
City Treasurer on December 15 of water-works
bonds, Nos. 123 to 130, incl., for $500 each.
COUNTY
(P.
O.
Ashland),
Ohio .—BOND SALE.—On
16 the $55,000 5% Ashland & Olivesburg road bonds (V. 97, p. 902)
awarded, it is stated, to the Provident Sav. Bank & Tr. Co. of Cin.
and int.
ASHTABULA,
Ashtabula County,
Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Nov. 3, it is stated, by Frank W.
Wagner, City Aud., for $10,000 5% 5H-yr. (aver.) street bonds.
Cert,
check for $500 required.
>
office of the
Spokane,
jmpt. bonds
Call.—The following special
called for payment at the office of the City
Wash.;—Bond
are
Treasurer:
•
TO BE PAID OCT.
Name.
Dist. No. No. Bds.
Water Main.
Sanson Avenue
W40
.2
17th
W45
2-3
Avenue
First Avenue
27
10-12, incl.
ll-14„incl.
658 51-80, incl.
521 33-50, incl.'
2
793
Monroe Street-.
,
Newark & Perry Sts.
Grade.
39
16th
Avenue
16th
Buckeye Avenue.-. 471
10
Euclid Avenue.
861
Garfield Avenue
Avenue
5-6
15
ATTLEBOROUGH,
8
5
ports state, at the election held Oct. 8.
15
Incl. No.
16
8-9
6
694
4-5
Sprague Avenue
274 21-23, incl.
Sheridan Street
875
12-13
862
4-5
5-6
Dist.
Up to and
No.
Name—
Incl. No.
Grade.
5
56
1
159
730
881
Walk.
Wall St
69
Calispel St
535
477
19
8th
177
30
Frederick Ave
663
Gordon Ave
691
692
13
718
10
Ash St
Ave
3
11
880
4
408
7
475
Sewer.
5
466
470
14
Marietta (York)
Marshall St
465
Alley
Alley
1$
Nora Ave
671
Bernard St
Division St. Ext
330
688
14
Nora& So. Crescent
672
12
697
706
254
8
Ave
...
629
74
10
7
,11
17th Ave
584
19
Washington St
715
8
4
■
Tekoa
St
Vine Court
_______
9
327
Sharp Ave
■
695
190,611
189,582
do
Cin-\
189,160
f
$25,000
95.55
{
25,000
25,000
25,000
96.02
95.75
95.02
November.
16
AURORA TOWNSHIP SCHOOL DISTRICT
3
$2,500 school and
*
31
852
(P. O. Aurora),
Port¬
age County, Ohio.—BONDS TO BE PRIVATELY SOLD.—The Pres.
Bd. of Ed. advises Us under date of Oct. 14 that two offers to purchase the
'
Ave
do
do
I
14
>
191,000
J
BONDS TO BE RE-OFFERED SHORTLY.—Local papers state that the
$250,000 4H% 30-year coupon flood-protection bonds, 1912, offered With¬
out success on July 10 (V. 97, p. 128) will be re-offered for sale some time in
24
670
191,326
do
I
22
.
do
(
11
14th Ave.
9th Ave
Providence Ave
Lincoln St
Mayer, Deppe & Walter, Cincinnati..
Blodget & Co., New York
Harris, Forbes & Co., New York....
Weil,
Roth & Co. and Seasongood & Mayer,
cinnati, jointly
American National Bank, Atlanta
12
Mallon St
\
Elliotjt & Harrison, Cincinnati
2
-
16th Ave
Mansfield
f
J
Breed,
4
Haven St
Jackson
'•
*
Neroy Ave
Sprague Ave
Entire issue $192,246
}
;
13
Arthur St
Bid.
Amount.
-
Atlanta
Fifth-Third Natr^Bank, Cincinnati, jointly
544
Front Ave...
Manito Place
Bidder—
R. M. Grant & Co., New York
Robinson-H umphrey-Wardlaw,
Baker, Watts & Co., Baltimore
Bonds Called
Paving.
Broadway Ave
,
AUGUSTA, Ga.—BIDS.—The other bids received for the $200,000
4H% 30-year coup, refunding bqnds awarded on Oct. 10 to John D.
Howard, Baltimore, Estabrook & Co., N. Y., and John W. Dickey,
Augusta, at their joint bid of $193,341 27 (96.67) (V. 97, p. 1059), were:
Fifth Ward....,
McClellan Street
Up to and
ATo.
SALE.—On
Mass.—BOND
of issuing $17,000 water-system and
TO BE PAID NOV. 1.
Dist.
County,
AUBURN, Nemaha County, Neb.—BONDS
VOTED.—The question
electric-light-plant bonds carried, re¬
3
Sewer.
Bonds Called
Name—
Bristol
10 $75,000 4% bonds due from 1924 to 1932 were awarded to Curtis
Sanger of Boston at par and int.
Bids were asked until Oct. 10 for a
$50,000 6-mos. temporary loan in anticipation of an issue of bonds, but as
the above offer was made for the bonds, the bids for the loan were rejected.
5-6
10
1
COUNTY, N. J .—BOND O FFERING.—Proposals will be
Higbee, County Solicitor (P. O.
registered tax-free insane-asylumimprovement bonds.
Denom. $1,000.
Date Oct. 1 1913.
Int. M. & S.
at office of County Collector.
Due $5,000 yearly on Oct. 1 from 1916 to
1927, incl.
Certified check for 2%, payable to E. L. Johnson, County
Collector, required.
&
Walk.
Street
ATLANTIC
received until 2 p. m. Oct. 25 by E. A.
Atlantic City), for $60,000 5% coupon or
Oct.
7
Havermale Avenue.
3
10-23, incl.
457 12-14, incl,
645 24-28, incl.
2
* 4
239
860
First Ward
659
_
863
461
407
866
Post Street....
'''}■•■
14-15
Jackson Avenue...
Lacy Street.
Mansfield Avenue.
Oak Street
Baldwin
Brown Street.
No. Bds.
Grade.
Oak Street
271
Lincoln Streets
Dist. No.
Name.
Madison Street
Nora Avenue
Paving.
Lincoln Street
15.
ATHENS, Clark County, Ga.—BOND SALE.—The $72,000 remaining
portion of the two issues of 4^% 30-year bonds, aggregating $175,000 (V.
97, p., 1059), has been purchased by Jas. White of Athens, J. H. Hilsman
& Co. of Atlanta and the City Bond Commission.
June 2 (V. 96, p.
''
$1,000 funding 5%
1715) at private sale,
BARTHOLOMEW
COUNTY
(P.
bonds offered without
being considered.
success
on
are
O.
Columbus),
Ind.—BONDS
PROPOSED.—Reports state that the County Commissioners have ordered
a $30,000 bond issue to pay for the paving of Second Street.
1152
THE
CHRONICLE
[Vol.
BOND SALE.—The $8,500
4)4%
out
success
on
Indianapolis
10-yr. gravel-road bonds offered with¬
16 have been sold, it is stated, to Miller & Co. of
Sept.
$5,000
,
Seasongood & Mayer, Cincinnati
BELMAR, Monmouth County, N. J.—BOND SALE.—The Prudentia
Ins. Co.
Stacy & Braun, Toledo
awarded on July 1 $36,000 sewer-ext. and $22,000 water-extat par.
Denom. $1,000.
Date July 1 1913.
Int.J.&JCOUNTY HIGH SCHOOL DISTRICT (P. O. Las Animas),
Colo.-—BOND SALE.—On Oct. 6 the $35,000 10-20-yr. (opt.) bldg. bonds
was
dated Nov. 1 1913 (V. 97, p. 754) were awarded to E. H. Rollins & Sons of
Denver as 5s at par less $285 discount.
Other bidders were:
Bidder—
Discount
Rate.
Bidder—
Premium.
Rate.
J. N. Wright & Co.,Den.
H. Wilcox & Son, Den_
R. M. Grant & Co.,
New
Harris T.&S.Bk., Chi_. $484
5M %
Weil, Roth & Co., Cin.
203
5}4%
R.M.Grant&Co. ,N\ Y.?
203 U5H%
>
11,375
5H%
Weil, Roth & Co., Chi. 1,237
6%
J. Nuveen & Co., Chi.
727
6%
Spitzer, Rorick&Co.,Chi. 350
6%
C. H. Coffin, Chicago.
176
6%
5%
5%
5%
5%
430
440
York
1,385
C. H. Coffin, Chicago. 1,714
5%
5%
*
We
Date Mar. 1 1913.
Harris, Forbes & Co. of N. Y.
H. Rollins & Sons, N.
Bond & Goodwin, Wm.
Y..102.279
R.
Compton & Co. and W. N.
Coler & Co.. New York—102.273
Sutro Bros., New York
102.160
A. B. Leach & Co., N. Y
101.85
Spitzer, Rorick & Co., N. Y_ 101.76
Kountze Bros., New York—100.433
Rhoades & Co., New York._ 102.735
Curtis & Sanger, New York._
102.70
Blodget & Co., New York... 102.63
Estabrook & Co., New York. 102.575
New York Life Insur. Co
Adams & Co., New York
102.552
102.511
Invastment
„
CHURCHILL
COUNTY
O.
Fallon),
was
ques¬
defeated
Nev.—BOND ELECTION
the
near
highway-
ELECTION.—The questions of issuing
p.
543) will
be submitted to
a
vote
on
Oct.
23.
.
•
Denom. $320.
Date July 7
'
a
5,600 John E. Giltner et al road bonds. Denom. $280. Date July 7 1913.
Proposals for these bonds will be received until 10 a. m. on that day by
John R. Scott, Co. Treas.
Int. M. & N.
Due part each six months.
CLATSOP COUNTY (P. O. Astoria), Ore.—BOND ELECTION.—
for-attorney's fees, cost of
Reports state that an election will be held Nov. 4 to submit to the
question of issuing $400,000 6% 20-yr. highway-impt. bonds.
.
CLEARWATER,
Alpine),
Tex.—BOND ELECTION
petition is being circulated calling
issuing $80,000 road bonds.
voters the
Pinellas
County, Fla.—BOND ELECTION PRO¬
near future, it is stated, to submit
issuing $50,000 street-paving and dock bonds.
POSED.—An election will be held in the
to the voters the question of
vote the question of
V
8
(P.
1913.
less $1,000 for preparing and
Oct.
6%
;
,
6,400 Thomas A. Prather et al road bonds.
offered on Oct. 13 (V. 97, p. 967) were rejected:
C. H. Coffin of Chicago bid $25,416 less $962
SALE.—On
$15,000
ELECTION PROPOSED.—
p. 1060):
$9,300 Joseph Beuter et al road bonds.
Denom. $465. Date Sept. 2 1913.
6,700 Samuel Lucas et al road bonds. Denom. $335. Date Aug. 4 1913.
6,500 George W. Dietrich et al road bonds. Denom. $325. Date June 2
BRECKENRIDGE, Wilkin County, Minn.—BIDS REJECTED.—The
following bids received for the $25,000 5% 20-year city-hall and jail bonds
Conn.—NOTE
.
CLARK COUNTY (P. O.
Jeffersonville), Ind.—BOND OFFERING.Further details are at hamd relative to the offering on Oct. 21 of the
following
5 issues of 4}4% road-impt. bonds, aggregating $34,500 (V. 97,
1913.
BRIDGEPORT,
the
CLANTON, Chilton County, Ala.—BOND ELECTION— The ques¬
of issuing the $20,000 sewer and $15,000 water
5% 30-year bonds
(V. 97,
Due in 1933.
a
of
tion
BRADFORD, Mc Lean County, Pa.—BOND SALE.—An issue of
$15,000 4H% funding and paving bonds was taken on July 1 by the City's,
Sinking Funds at par.
Denom. $500.
Date July 1 1913.
Int. J. & J.
a
,
made
was
the $400,000
high-pressure-fire-fighting-system and$500,000 hospital-equipt.
bonds (V. 97, p. 967) will be submitted to a vote on November 4.
Bartlett Bros. Co. bid for $50,000
Boylston St. subway bonds 107 and int.
Augustus P. Loring bid for 1$00,000 Boylston St. subway bonds 101.78.
Rockland Savings Bank bid for $15,000 20-yr. 4 3^% basis, $10,000 25yr. 4.15 basis,
Suffolk Savings Bank bid for $500,000 Boylston St. subway bonds 101.90.
TEMPORARY LOAN.—Despatches dated Oct. 16 state that this city
has borrowed $250,000 at 4% in anticipation of taxes.
election to submit to
rUU
CINCINNATI, Ohio.—BOND
.
for entire issue.
an
sale
to reports an election will be held in
future to submit to a vote the
proposition to issue $50,000 Lincoln
construction bonds.
A syndicate consisting of Blake Bros., Adams & Co., Lee,
Higginson &
Co., Wm. A. Read & Co. and Perry, Coffin & Burr of Boston bid 100.719
BREWSTER COUNTY (P. O.
PROPOSED-.—According to reports,
later declared
PROPOSED.—According
,
■
were
■
CHARDON, Dawes County, Neb.—BONDS DEFEATED.—The
15 the 14 issues of 4H%
21 2-3-yr. (av.) tax-free bonds, aggregating $4,148,000 (V. 97, p. 967),
awarded to a syndicate composed of R. L. Day & Co., Estabrook & Co.
N. W. Harris & Co., Inc., Merril
Oldham & Co. and Blodget & Co. of
Boston at 101.44 and int.
According to local papers, the other bids re¬
par
Aug. 21 and which
on
CENTRAL UNION HIGH SCHOOL DISTRICT, Imperial County.
tion of issuing the $10,000 sewer-ext. bonds
(V. 97, p. 542)
at a recent election.
-Jii
BOSTON, Mass.—BOND SALE.—On Oct.
of Toledo bid
Louis
Local newspaper reports state that an
election will be held in the near
future to submit to a vote the
question of issuing $4,500 Jordan's Creek
reg.
bonds, &c.
Sidney, Spitzer & Co.
selling bonds, &c.
St.
bridge-construction bonds.
were
for
of
,
CEREDO, Wayne County.W. Va..—BOND
issuance of the $175,000 5% road-constr. bonds voted July 14 (V. 97, p.
251).
-
Co.
Cal.—BONDS NOT SOLD.—No
building bonds offered on Oct. 7.
BOSSIER PARISH (P. O. Benton),, La.—NO ACTION YET TAKEN.
—We are advised that
no action has yet been taken looking towards the
were:
a favorable vote was cast
at the election held Sept. 27 on the
to issue $110,000 sewer,
street and water-mains-extension
These bonds were voted on
Aug. 17 (V. 97,
illegal.
Remick, Hodges & Co., N.Y. 102.291
ceived
$40,000
•.
declared illegal because of
Pressprich & Co..N.Y.102.769 E.
N. W. Halsey & Co., N. Y__ 102.679
proposition to issue
.
p. 679), but were
a technicality in the advertisement.
CARTERS VILLE, Jasper
County, Mo.—BONDS DEFEATED.—The
question of issuing the $11,000 (not $12,000, as first
reported) city-hallbuilding bonds (V. 97, p. 903) was defeated, it is stated, at tne election
held Oct. 7 by a vote of 186 "for" to
189 "against."
These bonds, if voted,
were to take the
place of the $12,000 bonds awarded to the Little & Hays
int.
Other bids
102.931.
at
vote the
a
state that
bonds.-
were:
W. R.
Nov. 4 to submit to
Park purchase bonds.
proposition
% 19 5-6-year (average) high-school bonds (V. 97, p. 829)
awarded to
5H% bonds,! aggre¬
CARTERSVILLE, Bartow County, Ga.—BONDS VOTED.—Reports
BINGHAMTON, Broome County, N. Y.—BOND SALE.—On Oct. 8
the $375,000 4%
were
5 00
CARRICK, Allegheny County, Pa.—BOND ELECTION.—An election
Southern
TARKIO DRAINAGE DISTRICT, Holt County, Mo.—PUPCHASER OF BONDS.—We are advised that the purchaser of the $25,000
6% system-completion bonds awarded on Mar. 1 (V. 97, p. 1059) was the
Denom. $500.
218 00
159 00
Oct. 13 (V. 97, p. 829.)
on
will be held
BIG
The price paid was par and
Int. M. & S.
Due in 1932.
—
305 00
propo¬
sition to issue $30,000
water-works-system-installation bonds will be sub¬
mitted to a vote at the November
election, it is stated.
"
BETTERTON, Kent County, Md.—BONDS NOT YET SOLD.—We
Compton Co. of St. Louis.
333 75
309 00
CARLISLE, Nicholas County, Ky.—BOND ELECTION.—The
advised that no sale has yet been made of the $6,000 5% tax-free road
and sewerage bonds offered without success on April 1 (V. 96, p. 1715).
R.
336 15
25 25
21 00
305 00
not advised as to the other three issues of
are
gating $6,800, also offered
are
Wm.
401 00
Cincinnati.Security Sav. Bank & Trust Co., Toledo
Spitzer, Rorick & Co., Toledo
Hayden, Miller & Co., Cleveland
Breed, Elliott & Harrison, Cincinnati
Sidney Spitzer & Co., Toledo....
New First National
Bank, Columbus
*
Successful bid.
BENT
Wm.E.Sweet&Co.,Den. $290
Causey,Foster&Co.,Den. 365
$449 00
A. E. Aub & Co.,
Cincinnati.
Provident Sav. Bk. & Tr. Co.,
5% 30-year bonds
Issues.
Issue.
Premium. Premium.
*$545 80
$12 62
Premium.
,
Two
$3,100
Issue.
Bidder—
at par.
xcvii.
CLIFTON HEIGHTS, Delaware County, Pa .—BONDS DEFEATED.
4}4%
—The ordinance providing for the issuance of $40,000
sewerage and public-
Eavement notes were awarded 1to four national banks of Bridgeport at par.
•enom. $1,000.
Date-Aug.
1913.
Int. F. & A.
Due $40,000 yearly
impt. bonds, authorized by Council in July (V.97, p. 189),was submitted
to the voters on September 27 and was defeated
by a vote of 84 "for" to
172 "against."
'
beginning Aug.
1 1914.
$200,000
"
.
BROCKTON, Plymouth County, Mass.—BOND SALE.—This city has
disposed of the following four issues of bonds,
aggregating $58,000:
$33,000 4H % water bonds awarded on March 26 to Blodget & Co., Boston,
at 100.34.
Denom. $1,100, $1,000 and $100.
Date March
15 1913.
Int. M. & S.
Due serially March 15,from 1914
to 1943 incl.
COFFEYVILLE,
take the place of the $30,000 issue voted
subsequently declared illegal because of
petition.
'
5,000 4)4% rifle-range bonds awarded on April 18 to R. L.
Day & Co.,
Boston, at 100.779.
Denom. $500.
Date April 1 1913.
Int. A. & O.
Due serially on April 1 from 1914 to 1923 incl.
10,000 4H% playground bonds awarded on June 11 to R. L.
Day & Co.,
Boston, at 101.398.
Denom. $500.
Date May 15 1913.
Int. M.
&
N.
;COLUMBUS, Ohio.—BOND
Due serially on May 15 from 1914 to 1933
until 12
'
Date Oct.
15
1913."
BROWNSVILLE,
Interest A.
Cameron
&
o.
County,
.
Tex.—NO
ACTION
YET
TAKEN.—The City Clerk advises us under date of
Sept. 22 that no action
has been taken looking toward the issuance of the
$30,000 school-bldg.
bonds (V. 97, p. 464).
BUFFALO, N.
Y.—BOND
until 12
OFFERINO.—Proposals will be received
Comptroller, for the following
m. Oct. 28 by Wm. G.
Justice, City
4 H % registered tax-free bonds:
$300,000
school bonds.
Due Nov. 15 1933.
"
300,000 school refunding bonds.
Due $15,000 yearly on Nov. 15 from
1914 to 1933, inclusive,
150,000 street-cleaning and garbage bonds authorized Oct. 6
(V. 97, p.
1060).
Due Nov.
15
1918:
100,000 municipal-building bonds.
Due Nov. 15 1933.
100,000 water bonds auth. Oct. 6 (V. 97, p. 1060).
Due Nov. 15 1933.
Date Nov. 15 1913.
Int. M. & N. at office of City
Comptroller or at
Hanover Nat. Bank, N. Y.
City.
An unconditional certified check on an
incorporated bank or trust company for 2% of bonds bid
for, payable to
City Comptroller, required.
BUTLER
Oct.
TOWNSHIP,
Miami
County,
SALE.—On
CAMDEN, Kershaw County, So. Car.—BOND SALE.—It is
reported
that two issues of
5% 20-40-year (opt.) coupon bonds, aggregating
$125,000,
success (V. 97, p. 679), have been awarded to
recently offered without
Toledo, Ohio, bankers.
CANTON
UNION
SCHOOL DISTRICT (P. O.
Canton), Fulton
election will be held Oct. 21
(date
14), it is stated, to submit to a vote the
question of
whether or not this district shall issue
$49,000 coupon Wright grammarschool building bonds (V. 97, p. 1060).
\
«
County, 111.—BOND ELECTION.—An
changed from Oct.
CANTON, Stark County, Ohio.—BOND SALE.—The
following bids
received for the $5,000 20-year
hospital and $3,100 4 4-5-vear (av.)
Monroe Ave. N. E. impt.
5H7o coup, bonds offered on Oct. i3 (V. 97,
were
p.
829):
T
April ! (V. 96, p, 1436), but
defect found in the election
-
'
.
Ave.
storm-sewer bonds.
Denom.
$1,000.
Date
Due Mar. 1 1943.
10,000 sewer-repair bonds.
Denom. $1,000.
Date Aug. 1 1913.
Due
Sept. 1 1933.
11,000 municipal stables and barns extension bonds.
Denom. $1,000.
Date Aug. 1 1913.
Due Sept. 1 1933.
1,500 street-improvement bonds.
Denom. $500.
Date Aug. 1 1913.
Due Sept. 1 1924, optional after Sept. 1 1914.
10,000 fire-plug bonds.
Denom.
$1,000.
Date July 8
1913.
Due
Sept. 1 1933.
r/;|<l >
3,000 Sixth St. extension bonds.- Denom. $1,000.
Date July 8 1913.
Due Sept. 1 1933.
7,000 refuse and garbage-collection additional building and equipment
bonds.
Denom. $1,000,
Date Aug. 1 1913.
Due Sept. 1 1943.
8,000 engine-house No. 16 repair-shop bonds.
Denom. $1,000.
Date
Dec. 1 1913.
Due Sept. 1 1933.
7,500 fire and police telegraph-apparatus bonds.
Denom. $500.
Date
Dec. 1 1913.
Due Sept. 1 1923.
Int. M. & S.
Certified check for 2% of bonds bid for, payable to
City
Treasurer, required.
Bonds to be delivered ahd paid for within 10 days
from time of award.
Purchaser to pay accrued interest.
The first seven issues, together with $13,000
market-repair bonds, were
previously offered on Aug. 26 and awarded on that day to Curtis & Sanger
of Boston.
The purchasers, however, refused to accept the bonds because
of an error found in the advertisement.
The City Solicitor was then direc¬
ted to turn the bonds over to Seasongood & Mayer of Cincinnati (V. 97,
p. 1060), but the Council Finance Committee declined to accept the offer
'
1
1913.
of this firm.
:
.
»
.
COOK COUNTY SCHOOL DISTRICT NO. 76 (P. O.
Evanston), 111.
SALE.—The Secretary of Board of Education advises us under
■—BOND
date of Oct.
Ind.—BOND
15 the $10,000 414% 53^-year
(aver.) school-bldg. bonds (V. 97, p.
903) were awarded, reports state, to the Citizen's Nat.
Bank of Peru at
100.25 and interest.
a
OFFERING.—Proposals will be received
.
Aug.
incl.
Westchester County, N. Y.—BOND SALE.—On
of street-impt. bonds,
aggregating $16,700, were
Douglas Fenwick & Co. of N. Y; for $16,717 (100.101) for
4.90s.
The following bids were received for
5% bonds:
John J. Hart, Albany
100.342 Adams & Co., New York.100.005
J
Wm. H. Cook, New York
100.13
on
$35,000 Livingston
the four issues
to
ELECTION
Nov; 12 by J. T. Barr, Clerk of Council, for the following
5%
bonds:
BRONXVILLE,
awarded
m.
.
,
14
Kan.—BOND
COLUMBIA,
Richland
County, So. Caro.—BOND ELECTION.—
According to local newspaper reports, an
election will be held Dec. 1
to submit to a'vote the question of issuing $500,000 water and
sewerage
system bonds.
10,000 4H% drainage bonds awarded on April 18 to R. L.
Day & Co.,
Boston, at 100.779.
Denom. $1,000.
Date March 15 1913.
Int. M. & S.
Due serially on March 15 from 1914 5o 1923
Oct.
County,
PROPOSED.—Local papers state that an election will be held soon to vote
on the question of issuing $30,000 railroad-aid bonds.
These bonds are to
.
incl.
.
Montgomery
7
that the $85,000 building bonds voted
sold to the First Trust & Savings Bank of
Sept. 6 have
been
Chicago.
COOPERSTOWN,
Griggs County; No. Dak.—BONDS PROPOSED.
—The issuance of $30,000 water-works-system-constr. bonds is
being con¬
templated by this place, it is stated.
COOSA
COUNTY
(P.
O. Rockford), Ala.—BONDS DEFEATED.—
According to reports the proposition to issue road bonds
was
defeated at the
election held Oct. 6.
CORSICANA, Navarro County, Tex.—BONDS VOTED.—This city
recently voted in favor of the proposition to issue $80,000 street bonds.
CORTLANDT UNION FREE SCHOOL DISTRICT NO. 8
(P. O.
Peekskill), Westchester County, N. Y.—BOND SALE.—An issue of
$5,000 11-21-year (serial) school-completion bonds was awarded on Sept. 10
to the.Peekskill Sav. Bank of Peekskill at par for 4.95s.
Date Sept. 15
1913.
Denom. $500.
Int.J.&J. •;
CRENSHAW COUNTY (P. O. Luverne), Ala.—BOND OFFERING.—
Proposals will be received until 12 m. Nov. 3 by F. M. T. Tahkersley,
OCT. 18
1153
1913.]
of an issue of $125,000 5% 40-yr. coupon
for $75,000
Judge of Probate,
voted Sept. 22 (V. 97, p. 904). Denom.
$1,000. Date "day of sale".
Int. semi-ann. at Hanover Nat. Bank, N. Y.
Cert, check for $1,000, payable to above, required.
No bonded debt.
Floating debt $28,817 40.
Assess, val. 1913 $3,777,280.
tax-free
bridge bonds
and
road
CROWLEY,
Tarrant County,
Tex.—BONDS PROPOSED.—This
place is contemplating the issuance of $10,000 water-works bonds.
CRYSTAL FALLS SCHOOL DISTRICT (P. O. Crystal Falls), Iron
County, Mich.—BOND OFFERING.—Proposals will be received until
2p.m. Oct. 20 by W. J. Richards, Secy., for an issue of $60,000 5% school
bonds.
Denom. $1,000.
Date Sept. 2 1913.
Int. M. & S.
Due $5,000.
yearly on Sept. 2 from 1916 to 1927 incl.
Cert, check for $1,000, required.
COUNTY (P. O. Crossville), Tenn.—BIDS RE¬
JECTED.—All bids received for the $60,000 5% 10-20-yr. (opt.) coupon
CUMBERLAND
(V. 97, p. 829) were rejected.
(P. O. Cleveland), Ohio.—BOND SALE.—
road bonds offered on Oct. 13
CUYAHOGA COUNTY
(aver.) coupon court-house-bldg. bonds
awarded to Farson, Son & Co. of Chicago at 102.167
On Oct. 15 he $50,000 5% 6K-yr.
(V. 97, p. 904) were
Other bids were:
and int.
Co., Boston—$50,850 00 Field,Long'th& Rich.,Cin.$50,580
50,775 00 Weil, Roth & Co., Cin... 50,575
50,517
50,750.00 Otis & Co., Cleveland
Tillot.& Wolcott Co.,Clev. 50,678 50 First Nat. Bk., Cleveland 50,435
Breed,Ell.& Harrison,Cin. 50,625 00 C. E. Denison & Co.,Clev. 50,386
Adams &
Seasongood <fc Mayer, Cin.
A. E. Aub & Co., Cin___.
00
00
00
60
80
OFFERING.—Proposals will be received until 11 a. m. Nov. 1
by the Board of County Commissioners, John F. Goldenbogen, Clerk, for
$45,000 6% coup, emergency bonds.
Denom. $500.
Date Oct. 1 1913.
Int. A. & O.
Due Oct. 1 1915.
Certified check on a bank other than the
one making the bid, for 10% of bonds bid for, payable to County Treasurer,
required.
Bonds to be delivered and paid for within 10 days from time of
award.
Purchaser to pay accrued interest.
BOND
DALLAS, Tex.—BONDS AUTHORIZED.—Reports state that the City
was instructed on Oct. 8 to prepare an ordinance authorizing the
issuance of $500,000 45^% park-purpose bonds.
The issuance of these
bonds has been delayed by a suit started by J. F. Butcher which was
Attorney
recently withdrawn.
COUNTY
DAVIE
(P.
O.
Mocksville),
No.
Caro.—BOND SALE.—
Reports state that an issue of $50,000 road bonds has been sold to a Chi¬
cago firm.
DAVIS, Turner County, So. Dak.—BOND ELECTION.-r-An election
question of issuing $7,500 5%
5-10-yr. (opt.) water-works bonds.
will be held Oct. 29 to submit to a vote the
DECATUR, Macon County, 111.—BOND ELECTI ON.—The question
of issuing the $135,000 5% filter-plant bonds (V. 97, p. 608) will be sub¬
mitted to a vote on Oct. 28, it is stated.
DELAWARE
COUNTY
(P.
O.
Muncie), Ind —BOND SALE.—On
(V. 97, p. 1060) were awarded
Oct. 13 the $5,220 4H % gravel-road bonds
to the Merchants Nat. Bank of Muncie for
DE PERE, Brown County,
$5,226, equal to 100.114.
from
1914 to
De
Pere, or at the First Nat. Bank, Chicago.
payable to "City of De Pere", required.
Mower County,
DEXTER,
us
City
as
Cert, check for $100,,
Minn.—BOND SALE.—The Yil. Treas.
under date of Oct. 10 that the $8,000 gold registered
6s.
water-work
Sept. 25 have been awarded to Schanke & Co. of Mason
Denom. $1,000.
Date Sept. 1 1913.
Int. ann. in July at
on
,
Due $1,000 in 1914, 1916, 1918.
Dexter.
Bonded debt, this issue.
1920, 1922, 1924, 1926 and 1928.
Assess, val. $125,000.
No floating debt.
Clay
County, Ind.—BOND SALE.—On Sept. 27 the $1,000 6% school-building
bonds (V. 97, p. 755) were awarded to Elta & Brown at 100.5.
J. C. HolDICK JOHNSON
TOWNSHIP
DUVAL COUNTY (P. O.
A resolution
(P.
O. Carbon R. R. No. 2),
Due July 15 1914.
bertbidpar.
Jacksonville),''Fla.—BOND
ELECTION
—
adopted by the Board of County Commrs. on Sept. 22,
providing that the question of issuing $150,000 5% 30-year
was
it is reported,
gold coupon site-purchase and armory-construction and equipment bonds
be submitted to a vote on Nov. 4..
Denom. $1,000.
Date Jan. 1 1914,
Interest J. & J. at Jacksonville.
,
DYSART, Tama County, Iowa.—BOND SALE.—On Oct. 3 $14,000
5H% municipal-electric-light-plant bonds were awarded to Geo. M,
Bechtel & Co. of Davenport for $14,052, equal to 100.371.
Denom. $500
and $1,000.
Int. A. & O.
Due serially, ending in 1936.
These bonds
were voted Sept. 29 to take,the place of the $10,000 issue awarded to J.
P.
O'Brien & Co. of Boston on June 6.
This firm declined to accept the bonds.
EAST LIVERPOOL, Columbiana County, Ohio.—BOND OFFER¬
ING.—Proposals will be received until 12 m. Nov. 10 by James A. Kenney,
City Auditor, for the following 5% bonds:
$8,500 playground bonds.
Date Oct. 1 1913.
Int. annual.
Due $1,500
on Oct.
1 1914 and $1,000 yearly thereafter.
7,500 Minerva St. bonds.
Date April 1 1913.
Due $1,500 yearly on
April 1 1914 to 1918, inclusive.
Auth. Sec. 3939, Gen. Code.
Denom. $500.
Certified check for 5%
of bonds bid for, payable to City Treasurer, required.
Bonds to be deliv¬
ered and paid for within 10 days from time of award.
Purchaser to pay
,
accrued interest.
«
'
EAST ORANGE, Essex County, N. J.-^rBOND SALE.—This city has
disposed of the following three issues of bonds, aggregating $83,000, at par:
$33,000 4H % school-building-impt. bonds awarded on Sept. 8 to the Half
Dime Sav. Bank.
Denom. $1,000.
Date Sept. 1 1913.
Int. M. & S.
Due Sept. 1 1953.
20,000 4J^% police-telephone-system-erection bonds awarded on Sept. 8
to the Bd. of Sink. Fund Commrs. ■
Denom. $1,000.
Date
30,000
4%
Sept. 1 1913.
Int. M. & S.- Due Sept. 1 1943.
.municipal-stable and plant-erection bonds awarded on Jan.
13 to the Bd. of Sink. Fund Commrs.
Denom. $1,000.
Date Jan. 1 1913.
Int. J. & J.
Due Jan. 1 1943.
EAST VIEW (P. O. Cleveland),' Cuyahoga County, Ohio.—BOND
OFFERING.—Proposals will be received until 12 m. Nov. 10 by A. A. Smith,
Vil. Clerk, for the following 5% coupon bonds:
$1,235 80 East View Ave.-impt. (assess.) bonds.
Denom. (1) $235 80,
g^OO. Due $235 80 Oct. 1 1915 and $500 on Oct. 1 1920 and
3,753 40 Kinner »Ave.-impt.
(assess.)
bonds.
Denom.
(1) $253 40,
(7) $500.
Due $253 40 Oct. 1 1916 and $500 yearly on Oct. 1
from 1917 to 1923 incl.
3,736 53 East 143rd St.-impt.
(assess.) bonds.
Denom. (1) $236 56,
(7) $500.
Due $236 5§ Oct. 1 1916 and $500 yearly on Oct. 1
from 1917 to 1923 incl. '
_
1,407 28 Almyra Ave.-impt.
(assess.)
bonds.
Denom.
(1) $407 28,
(2) $500.
Due $407 28 Oct. 1 1917 and $500 on Oct. 1,1921 and
1923.
1923 incl. and $142 50 on Oct. 1 1923.
296 00 street-impt. (village's portion) bonds.
Due Oct. 1 1923.
105 00 Center Road-impt. (village's portion) bond. Due Oct. 1 1923.
Date 'day of sale".
Int. A. & O. at the Woodland Ave. Savs. & Tr. Co.
■
Bonds
check for 10%
to
of bonds bid for, payable to Vil. Treas., required.
for within 10 days from time of award.
accrued interest.
be delivered and paid
Purchaser to pay
EDGECOMBE COUNTY (P. O. Tarboro), No. Caro.—BOND OFFERstate that proposals will be received until 12 m. Nov. 3
by H. S. Bunn, Clerk Board of Commissioners, for $20,000 5% semi-ann.
5-14-year (ser.) bridge bonds.
Certified check for S500 required. *
EDGEWOOD, Allegheny County, Pa.—BOND SALE.—On Oct. 13
it is stated, to the
the $15,000 4J^ % bonds (V. 97, p. 968) were awarded,
Mellon National Bank of Pittsburgh.
EL
CAJON,
$108,433.
Angeles County, Cal.—BOND ELECTION PRO¬
will be held in the near future to
$26,250 water-system bonds.
EMPIRE VILLAGE SCHOOL DISTRICT (P. O. Empire), Jefferson
County, Ohio.—BONDS NOT SOLD.—According to reports, no bids were
received on Oct. 1 for the $2,500 5% school bonds offered on that day
EL
San
Diego
®tection will be held Nov.
County,
Calif.—BOND ELECTION.—An
a vote the proposition to issue
17 to submit to
$35,000 6% gold water-works bonds.
Los
MONTE,
POSED.—Reports state that an election
submit to a vote the question of issuing
V.
97,
830).
p.
$12,000
Aug. 30
ENDICOTT, Whitman County, Wash.—BOND SALE.—The
6% 10-20-vear (opt.) water-works bonds offered without success on
(V. 97, p. 608) were awarded on Sept. 13 to C. A. Cochran at par.
ERATH COUNTY COMMON SCHOOL
PROPOSED.—The issuance of $5,000 school
DISTRICT,
Tex.—BONDS
bonds is being contemplated
by this district.
EUGENE, Lane County, Ore.—BOND OFFERING.—Additional infor¬
the offering on Oct. 27 of the $100,000 25-year
water-plant-extension bonds (V. 97, p. 1061).
Proposals for these bonds
will be received until 7:30 p. m. on that day by R. S. Bryson, City Recorder.
Denom. $500 to $1,000.
Date Dec. 1 1913.
Int. J. & D. at place to be
agreed upon.
Certified check for 2% of bid required.
Official circular
mation is at hand relative to
states that there has been no
controversy or litigation
pending or threatened
concerning the validity of these bonds, the corporate
daries of the municipality, or the title of the present
spective offices, and that the
any municipal obligation.
existence or boun¬
officers to their re¬
city has never defaulted in the
payment of
EVANSTON CENTRAL SCHOOL DISTRICT NO. 75JP. O. Evanston), Cook County, 111.—NO ACTION YET TAKEN.—We are advised
that no action has yet been taken looking towards the offering of the
$40,000 school bonds (V. 97, p. 755).
EXCELSIOR SCHOOL DISTRICT, Kings County,
Cal.—BOND
SALE.—On Oct. 7 $4,000 6% building bonds were awarded to "Kings
County" at par.
Denom. $500.
Date Oct. 7 1913. Interest annually in
EXETER, Tulare County, Calif.—NO ACTION YET TAKEN.—We
advised that no action has yet been taken looking towards the calling
the question of issuing the $50,000 sewer-
are
of the election to submit to a vote
bonds.
ex t.
COUNTY
FAIRFAX
(P.
O.
Fairfax),
Va.—BOND ELECTION.—
4 to vote on the question
According to reports, an election will be held Nov.
of issuing $90,000 road-improvement bonds.
FAYETTEVILLE, Cumberland County, No. Caro.—BOND ISSUE.
—Reports state that this city has issued $30,000 electric-light-plant-impt..
bonds.
-:
,
FINDLAY, Hancock County, Ohio.—BOND ELECTION PROPOSED.
—According to reports, the question of issuing $57,000 lighting-purpose
bonds will be submitted to a vote at the November election.
T
-
(P. O. Columbus); Ohio.—BOND SALE.—
1-8-year (serial) "Ware Free Turnpike bonds were,
Columbus at 102.
No other bid
Denom. $500.
Date Oct. 1 1913.
Int. A. & O.
FRANKLIN
On Oct.
9
COUNTY
$7,000 6%
awarded to the New First Nat. Bank of
received.
FRENCH LICK SCHOOL DISTRICT (P. O. French Lick), Orange
County, Ind.—BOND SALE.—An issue of $2,500 refunding bonds has
Breed, Elliott & Harrison of Cincinnati at par and int.,
been awarded to
it is stated.
'•
\
SCHOOL DISTRICT (P. O. Fresno), Fresno County
BOND ELECTION AT PRESENT—We are advised by the
FRESNO
Cal.—NO
Assistant
Secretary Board of Education, under date
of Sept. 23, that no
toward the calling or the election to
$400,000 building and improvement bonds
definite action has been taken looking
vote
on
the
issuance
of the
97, p. 466).
(V.
FULLERTON, Orange County, Cal .—BOND
ELECTION PROPOSED.
election will be held in the near
municipal gas system-construction
—It is stated in local newspapers that an
future to vote
on
the issuance of $30,000
bonds.
•
FULTON,
Oswego County, N. Y.—BOND
SALE.—On Oct. 7
$18",-"
525 57 reg. Broadway Bridge construction bonds were awarded to Adams
& Co. of N. Y. for $18,562 57 (100,199) and int. as 4.70s.
.Denom. (18)
(1) $525 57.
Date Oct. 15 1913.
Int.
yearly Oct. 15 from 1923 to 1939 incl. and $525 57
$1,000,
A. & O.
Due
Oct. 15 1940.
$1,000-
FULTON COUNTY (P. O. Wauseon), Ohio.—BONDS NOT SOLD.—
No award was made on Oct. 13 of the $8,000 5% 3M-yr (aver.) road-impt.
No.
14 bonds offered
on
that day (V. 97, p.
1061).
We are advised that
these bonds will not be re-advertised.
(P. O. Galion), Crawford County,
Ohio.—BONDS DEFEATED.—'The proposition to issue $140,000 bldg,
bonds was defeated, it is stated, at the election held Oct. 1.
GALION SCHOOL DISTRICT
GLOUCESTER COUNTY (P. O.
Woodbury), N. J.—BOND SALE.—
wasawardedon Jan. 1
The Farmers' & Mechanics' Nat. Bank of Woodbury
of $3,000
Date Jan. 1 1913.
issue
an
temporary loan bonds ar par.
Denom. $1,500.
Int. J. & J.
Due $1,500 Jan. 1 1914 and 1915.
5%
GLOVERSVILLE, Fulton County, N. Y.—BONDS AWARDED
IN
PART.—Up to Oct. 10 $500 of the $16,250 (unsold portion of $50,000)
4J^% local improvement bonds (V. 97, p. 904) had been awarded to local
investors at par and interest.
OFFERING.—Proposals will be received until 2 p. m. Dec. 1 by
Commissioners, Alex. Orr, Clerk, for $50,000 4)-£ % coupon
Denom. $500.
Date June 19 1913.
Int. .T. & D. at
Fourth Nat. Bank, N. Y. City.
Due $5,000 yearly on June 19 from 1920
BOND
the
Water
water-works bonds.
to 1929, inclusive.
GORDON SCHOOL DISTRICT (P. O. Gordon), Sheridan
Neb.—BOND SALE.—An issue of $10,000 5% bonds has been
County,
awarded
Denom. $1,000.
Date Sept, 1 1913.
Int. M. & S.
Due from 1918 to 1932.
GRAHAM COUNTY SCHOOL DISTRICT NO. 5
,Ariz.—BOND
SALE.—On Oct.* 6 the $2,000 6% 10-20-yr. (opt.) gold coupon liquidatlngdistrict-expense bonds offered without success on Sept. 8 (V. 97, p. 830)
were awarded to J. H. Warner at par and int.
Causey, Foster & Co. of
Denver bid par, less $140 atty's fees.
Denom. $500.
Date Sept. 8 1913.
to
Denom. (1) $471 96, (2) $500.
on Oct. 1 1922 and 1923.
2,232 50 Center Road-impt.
(assess.) bonds.
Denom. (19) $110, (1)
$142 50.
Due $110 each six months from April 1 1914 to April 1
Due $471 96 0ct- 1 1918 and $500
Cert,
DISTRICT, Imperial County, Calif.—BOND SALE.
Security Sav. Bank of El Centro was awarded on June 3 an issue of
7% gold, site-purchase and bldg. bonds at par.
Denom. $500.
Date June 3 1913.
Int. J. & D. at the Co. Treas.
Due $500 yearly June 3
from 1917 to 1922 incl.
Bonded debt, this issue.
Assess, val. 1912
the State of Nebraska at
Int.
1,471 96 Birch Ave.-impt. (assess.) bonds.
„
ELM SCHOOL
$3,000
1930 incl.
.
bonds offered
July 23.
—The
October.
1,500 Broadway street-paving bonds.
Denom. $100.
Due $100 yearly
on Jan. 15 from 1914 to 1928 incl.
"
Date Nov. 1 1913.
Int. ann. on Jan. 15 at the national or State bank,
advises
W. F. John, Clerk
and improvement
Wis^—BOND OFFERING —Proposals will
Oct. 28 by E. W. Janssen, City Clerk, for the
following 5% coupon paving (city's share) bonds:
$3,400 street-paving bonds.
Denom. $200.
Due $200 yearly on Jan. 15
be received until 4 p. m.
—
DISTRICT (P. O. Elida), Allen County, Ohio.—
OFFERING.—Proposals will be received until 12 m. Nov. 10 by
Board of Education, for $25,000 5% coupon site-purchase
bonds.
Auth. Sees. 7625 to 7627, inclusive, Gen. Code.
Denom. (3) $1,000, (11) $2,000.
Date, "day of sale."
Int. semi-annually
at office of Board of Education.
Due part yearly on Nov. 1 from-1914 to
1927, inclusive.
Certified check for $500, payable to "Board of Education"
required.
Bonds to be delivered and paid for within 30 days from time of
award.
Purchaser to pay accrued interest.
It was reported in V. 97 i
p. 312, that these bonds were awarded to the Lima Trust Co. of Lima on
ELIDA SCHOOL
BOND
ann.
par.
in Sept.
GRAND VIEW HEIGHTS
(P. O. Columbus), Ohio.—BOND ELEC¬
TION.—An election will be held Nov. 4 to submit to a vote the
of issuing $13,000 street-impt. (village's portion) bonds.
question
GREENVILLE, Greenville County, So. Caro.—BOND ELECTION
PROPOSED.—Reports state that a petition is being circulated calling for
election to submit to a vote the question of issuing $40,000 hospital-impt.
an
bonds.
-f.
GRIDLEY GRAMMAR SCHOOL DISTRICT, Butte County, Cal.—
election will probably be held, it Is
BOND ELECTION PROPOSED.—An
stated, to decide whether or not this district shall issue $25,000 building
bonds.
These bonds are to take the place of the $25,000 issue offered
without success on July 7 (V. 97, p. 312), and, owing to some technicality,
declared illegal.
HANCOCK CONSOLIDATED SCHOOL DISTRICT (P. O. St. Louis)
Mo.—BOND SALE.—An issue of $20,000 5% 3-11-yr. (ser.) building and
site-purchase bonds was awarded to local investors at par on
Denom. $500.
Date Aug. 15 1913.
Int. F. & A.
HARDIN
COUNTY
(P.
O.
Kenton),
Ohio.—-BOND
Aug. 28.
SALE.—The
$8,500 5% 4%-yr. (aver.) county-jail and county-office-buildings-repairing
bonds offered on Aug. 7 (V. 97, p. 312) have been sold to local banks,
iag
1154
THE
CHRONICLE
On Oct. 13 the $49,430
5% refunding bridge bonds (Y. 97, p. 830) were
awarded, it is stated, to Stacy & Braun of Cincinnati for $50,715, equal to
102.597.
HARRISON,
Kootenai
Idaho.—BONDS
County,
NEW ELECTION PROPOSED.—The
question of issuing the
year (opt.) water-works bonds
(V. 97, p. 756) was defeated
held Sept. 23.
We
are
advised
that
a
new
DEFEATED—
$15,000 10-20at the election
election is contemplated.
HARRISON, Hamilton County, Ohio..—BOND SALE.—On Oct. 13
10-yr. (aver.) Park Ave. sewer bonds (V. 97, p; 830) were
awarded, it is stated, to the Davies-Bertram Co. of Cincinnati for $3,537
the $3,500 5%
(101.057) and interest.
Other bidders
$3,5361 Security Savings Bank & Trust
3,5351
Co., Toledo
__._._$3,502\
JANESVILLE, Rock County, Wis.—BOND SALE.—The $38,000 5%
Milwaukee St. Bridge-construction bonds voted July 2 (V. 97, p. 253) were
awarded on Sept. 20 to the Rock Co. Sav. & Tr. Co. of Janesville for $38,550,
equal to 101.447.
Denom. $500.
Date July 1 1913.
Int. J. & J.
Due
in
(V. 97,
p.
905)
Other bids
Bidder—
% 20-year gold coup, or registered municipal bldg. bonds
awarded to White, Weld & Co. of New York at 102.671.
were
were:
Price.
Amount.
Standard Fire Insurance Co., Hartford.
J. P. Morgan & Co. New York.
«
,
H. Rollins &
...—
-
-
*
Aetna Insurance Co.,
-
,
Travelers' Insurance Co., Hartford.
__________
.........
Hartford
50,000
250,000
100,000
100,126
101.32
100,000
50,000
1,000,000
200,000
100,000
101.32
100.265
101.05
100.50
100.75
100.87
101
100.04
101.55
100.27
100,000
150,000
1,000,000
100,000
JEFFERSON COUNTY (P. O. Beaumont), Tex.—BOND ELECTION
state that a petition is being circulated calling for an
to vote on the question of issuing $250,000 Drainage District
No. 4 bonds.
BOND ELECTION.—The
JENNINGS
101.7711
1,000,000
election to submit to a vote the question of
issuing $250,000 road bonds in
.'Justice Precinct No. 1.
HILLSDALE, Bergen County, N. J.—BOND ELECTION PROPOSED.
—Reports state that an election will be held in the near future to submit to
issuing $25,000 street-impt. bonds.
HILLSIDE TOWNSHIP SCHOOL DISTRICT (P. O.
Union), Union
County, N. J.—BOND SALE.-—The First Nat. Bank of Reselle was awarded on Sept. 11 $52,000 5% site-purchase and
building bonds at 100.0625.
Due $10,000 July 1
HINDS COUNTY (P. O. Jackson), Miss.—BOND ELECTION PROPOSED.—The Board of Supervisors has given notice of its intention to
issue $10,000
agricultural high-school bonds at not exceeding 6% int.
Due
not more than 25 years from date.
Reports state that an election will be
future to submit the above proposition to a vote.
City Council recently passed an ordinance
providing for the issuance of approximately $70,000 bonds for a water¬
works-system.
HOLTVILLE,
Imperial
County,
Calif.—VOTE.—We are advised
Sept. 23 on the proposition to issue
p.
1061)
was
118 to 29.
HOLYOKE,
Hampden
County,
Mass.—BIDS.—The other bids
received for the two issues of gold registered bonds,
aggregating $339,000,
awarded on Oct. 9 to Curtis & Sanger of Boston at 102.29
(V. 97, p. 1060),
were:
.
*
HOOPER, Dodge County, Neb.—BONDS NOT YET SOLD.—No
has yet been made of the $8,000 5% 10-20-yr.
(opt.) coupon
bonds offered without success on Aug. 18 (V. 97,
p. 756.)
The
ments
JIM HOGG COUNTY (P. O.
Hebbronville), Tex.—BONDS PRO¬
POSED.—This county is considering the issuance of $15,000 court-house
JIM
KALISPELL, Flathead County, Mont.-—BOND OFFERING.—C. J.
$175,000 5% gold water bonds.
J. & J. at office of
two issues of 5% 10-year drainage bonds,
aggregating $3,209 71,
without success on Sept. 5 (V. 97, p. 756).
offered
JACKSON COUNTY (P. O. Pascagoula), Miss.—BOND
OFFERING.
—Proposals will be received until Nov. 3 for the $15,000 6% Supervisors'
District No. 4 road bonds (V. 97, p. 756).
Denom. $500.
Date Oct. 1
Int. annually at the office of County Treas.
Due $500 yearly on
1 from 1924 to 1932 incl, and $10,500 Oct. 1 1933.
Cert, check for
$200 required.
Total debt (incl. this issue), $51,000.
Chautauqua County, N. Y.—BOND SALE.—On
lighting-plant-impt. bonds (V. 97, p. 905) were awarded
Y., at 100.065 for 4.60s.
Denom. $1,000.
Date
Due $2,000 yrly. Dec. 1 from 1914 to 1933 incl.
Int. J. &D.
Adams & Co. of New York have been awarded the
following 5 %! 1-10-year
(1)
Int. M. & S.
(1)
$1,298 88,
$277 70,
The
(9)
(9)
KANSAS
^
484 91, (9) .$1,400.
Int.
M. &
S.
Department.
DISTRICT (P. O. Kansas City), Mo.—
LOCALLY.—We are advised by the Secy. Board
Education, under date of Oct. 9, that the Board of Directors are now
preparing to cancel $100,000 of the $2,000,000 ($500,000 of which has
already been disposed of—see V. 97, p. 392) 4{A% 20-year gold Coupon
bonds, which are in the denom. of $1,000, and re-fssue 1,000 bonds of $100
denom.
These bonds will be ready in about 30 days and will be offered
BONDS
TO
CITY
SCHOOL
SOLD
BE
of
local
investors
KAUKAUNA,
at
par.
Outagamie
County, Wis.—BONDS PROPOSED.—An
electric-light and $10,000
water-works-impt. 5% coupon bonds will come up for consideration before
the Common Council on Oct. 7.
Denom. $500.
Date Aug. 1 1913.
Int.
F. & A. at any bank in Kaukauna.
Due $1,000 yearly on Fob. 1 from 1915
to 1922, inclusive, and $2,000 yearly on Feb. 1 from 1923 to 1926, inclusive.
Bonds maturing Feb. 1 1919 and thereafter are optional after 5 years.
ordinance providing for the issuance of $6,000
and
bonds.
Denom. $1,000.
Date June 1
1913.
Due $3,000 yrly. from 1914 to 1918 incl.
Denom. $500 and $1,000.
Date July 1 1913.
in Sept.
Due $5,000 in 1914, 1915 and 1916.
impt.
In July.
ann:
ann.
$900
1-10-year (ser.) paving
cer¬
KIMBALL,
T
Denom. (1) $542 04, (9) $2,400.
PROPOSED.—According to reports, an felection will
a vote the question of issuing about
future to submit to
Brule
So.
Countv,
of Chicago, who bid $15,015 less
This offer was rejected.
Dak.—BID
REJECTED—NEW
$675 for attorneys' fees and blank bonds.
New bids for these bonds will be received until Nov.
6.
KINGSBURG, Fresno County, C&l.-^BONDS VOTED.—By a vote
of 121 to 25 the question of issuing the $24,000 6% sewer bonds (V. 97,
p. 191) carried, it is stated, at a recent election.
KINGSVILLE,
Nueces
County,
Tex.—BOND OFFERING.—Pro¬
posals will be received until Oct. 21 for $52,000 sewer and $32,000 st.-impt.
40-yr. bonds at not exceeding 6% int.
Auth, vote of 189 to 5 at the elec¬
tion held Sept. 27.
The amounts Of these bonds were inadvertently re¬
ported as $5,200 and $3,200 in V. 97, p. 1062.
KIRKMAN
CONSOLIDATED
INDEPENDENT
SCHOOL
DIS¬
.
TRICT
We
are
(P.
O.
advised
Kirkman),
Shelby County,
Iowa.—BOND
SALE.—
that the $13,000 5%
without success on Aug. 9 (V.
97,
p.
5-10-yr. (opt.) bldg. bonds offered
467) have been disposed of.
KLAMATH FALLS, Klamath County, Ore.—BONDS NOT TO BE
RE-OFFERED.—The Police Judge advises us that it is not likely that the
three issues of 6% bonds, aggregating $40,550 (V. 97, p. 545), will be
re-offered for sale.
BOND ELECTION.—A vote will be taken Nov. 24, it is stated, on
the
question of issuing $50,000 city-hall bonds.
KNOX
COUNTY
(P.
O.
Vincennes), Ind.—BOND OFFERING.—
Proposals will be received until 2 p. m. Oct. 21, it is stated, by W. E. Ruble,
County Treasurer, for $12,230, $3,000, $1,760, $3,460, $2,160 and $2,800
4H% 10-year highway improvement bonds.
The last two issues were
offered without success on Oct. 1 (V. 97, p. 969).
LAKE
COUNTY
(P.
O.
Tavares),
Fla.—BOND
ELECTION.—An
election will be held Nov. 18 to submit to a vote the question of issuing
$500,000 6% coup, highway impt. bonds.
Date Jan. 1 1914.
Int. J. & J.
Due $100,000 in 15, 20 and 25 years and $200,000 in 30 years.
LAKE COUNTY (P. O. Crown
an
.-
$1.-
near
OFFERING.—The only bidder for the $15,000 5% 5-20-year (opt.) coupon
water-works bonds offered on-Oct. 8 ( V. 97, p. 969) was C. H. Coffin & Co.
$450.
tificates .have been awarded to Adams & Co. of N. Y. at
par:
.
$14,084 91 certificates dated July 1 1913.
Int. J. & J.
Denom. (1)
22,142 04 certificates dated S,ept. 11913.
1933, subject to call after
official notice of this bond offering will be found among the advertise¬
state that
CERTIFICATE SALE.—The following 5%
1923, and $110,000 July 1
ments elsewhere in this
1913.
Oct.
Denom.
Int.
An unconditional cert, check for $5,000, payable to Robert
BOND ELECTION
*
the
Denom.
issue of
Pawlins, Mayor, required.
aggre¬
JACKSON COUNTY (P. O. Brownstown), Ind.—BONDS NOT YET
SOLD.—The Co. Treas. advises us that no award has yet been made of
1913.
an
Due $25,000
$150,000 park-extension bonds.
Oct. 17 the
IONIA, Ionia County, Mich.—BONDS NOT YET ISSUED.—The
Mayor advises us that the $4,000 park-site-purchase bonds voted Sept. 29
(V. 97, p. 969) have not yet been issued.
*
•
1
17
Kenosha," required.
..
Sept.
call after July 1
to
be held in the
INGLEWOOD UNION HIGH SCHOOL DISTRICT (P. O.
Inglewood), Los Angeles County, Cal.—BONDS VOTED.—The question of'
issuing $150,000 bldg. bonds carried, it is stated, at an election held Qct. 11.
dated
Nov.
Date July 1 1913.
bank in N. Y. C.
45,000 North Main sewer bonds.
Due $4,500 yearly on Nov. 1.
Denom. $500.
Date Nov. 1 1913.
Int. M. & N. at office of City
Certified or cashier's check for $1,000, payable to "City of
Denom. $1,000.
Int. J. & J.
m.
Denom. $1,000.
or at some
Treasurer.,,
HUTCHINSON, Reno County, Kan.—BOND SALE.—The $8,590 96
5% 1-10-yr. (ser.) sewer bonds (V. 97, p. 756) have been awarded at private
sale to the State Exchange Bank of Hutchinson at
Denom. $500 and
par.
$358.
Date July 1 1913.
Int. J. & Jt
4,327 70 bonds
City Treas.
July 1 1923, subject to call after July 1 1920: $40,000 July 1 1926, subject
July 1 1928.
Int.
orreg. high-school bonds (V. 97, p. 968)
hwarded to A. B. Leach & Co. of N. Y. at 100.95.
(ser.) paving loan bonds at par:
$9,398 88 bonds dated July 1.1913.
.....
will be received until 3 p. m.
for the following 5% coupon
$75,000 4K% 23-year (av.) coup,
Oct. 9 1913.
.
KENOSHA, Kenosha County, Wis.—BOND OFFERING.—Proposals
Oct. 30 by Geo. W. Harrington, Qity Clerk,
tax-free bonds:
$40,000 New Bain school-building bonds.
Due $2,000 yearly on Nov. l.
sale
town-hall
local papers,, all bids received for the two issues of
5% gold bonds,
gating $1,200,000, offered on Oct. 6, were rejected (Y. 97, p. 756).
JAMESTOWN,
(P. O. Alice), Tex — BONDS PROPOSED.—
the issuance of $125,000 5H% 10-40-yr. road
McAllister, City Clerk, will offer for sale at 12
Int.
Oct. 20 by the City Council, C. E. Donlin,
HUDSON, Columbia County, N. Y.—BOND SALE.—On
COUNTY
JOHNSON COUNTY (P. O. Franklin), Ind.—BOND OFFERING.—
Proposals will be received until 1 p. m. Oct. 27, it is stated, by Harry
Bridges, Co. Treas., for $5,800 4}4 % 10-yr. road-impt. bonds.
official notice of this bond offering will be found among the advertise.
Oct. 9 the $40,000
WELLS
This county is considering
and bridge bonds.
15,000 highway bonds.
elsewhere in this Department.
to A. B. Leach & Co., N.
Int. M. & N.
KEENE, Cheshire County, N. H.—BOND SALE.—'The following 4%
HOUSTON, Harris County, Tex.—BIDS REJECTED.—According to
were
$6,300, less $55 bonus.
1914 to 1921.
$15,000 land
HOPKINS, Nodaway County, Mo.—BOND OFFERING.—Proposals
Mayor, for $12,000 water-works bonds.
SALE.—On
bonds have been awarded to local parties at par:
.t
Estabrook & Co., Boston—102.2801N.W.Harris &
Co..Inc.,Bos.102.067
Merrill, Oldham & Co., Bost.102.1801 Blodget & Co., Boston..... 101.800
Perry, Coffin & Burr, Bos. ^.102.1801 Adams & Co., Boston
.101.367
TifftBros
.J
__102.169|
will be received until 7 p. mi
Date Sept. 15 1913.
Ind .—BOND
JERSEY CITY, N. J .—BOND SALE.—An issue of $13,000
4% publicbonds was awarded on May 27 to the Sinking Fund at par.
Denom.
Date May 27 1913.
Int. M. & N.
Due serially on May 1 from
to
HOLTON, Jackson County, KaUs.—BONDS AUTHORIZED.—Local
newspaper reports state that the
that the vote cast at the election held
the $33,000 5% sewer bonds
(V. 97,
Vernon),
6,3031
Indianap..
Denom. $3i5.
O.
JERRY CITY, Wood County, Ohio.—BOND
OFFERING.—Proposals
will be received until 12 m. Nov. 10
by A. A. Whitacre, Village Clerk, for
$2,608 6% Jerry and Brown Sts. improvement bonds.
Auth. Sec. 3914,
Gen. Code.
Denom. $521 60.
Date Sept. 1 1913.
Int. annually on
Sept. 1.
Due $521 60 yearly on Sept. 15 from 1914 to 1918, Inclusive,
Certified check for 5% of bonds bid for, payable to Village Treasurer,
Bonds to be delivered and paid for within 10 days from time of
required.
award.
Purchaser to pay accrued interest.
<
"
18-20-yr. (opt.) funding bonds voted Aug. 2 (V. 97, p. 609).
HILL COUNTY (P. O.
Hillsboro), Tex.—BOND ELECTION PRO¬
POSED.—Reports state that petitions are being circulated calling for an
near
(P.
bonds.
1,000,0Q0
held in the
COUNTY
$1,000.
HILL COUNTY (P. O. Havre), Mont.—NO ACTION YET TAKEN.
'—Under date of Sept. 27 the Co. Clerk and Recorder advises us that no
action has yet been taken looking towards the offering of the $50,000
5%
"
question of issuing $140,000 hospital bonds will
JEFFERSON PARISH (P. O. Gretna), La .—BONDS REGISTERED.—
Reports state that the Secretary of State has registered an issue of $$112,000
5% sub-drainage District No. 1 bonds. Denom. $100, $500 and $1,000.
square
100,000
1,000,000
1,000,000
$1,000.
Date July 1 1913.
Int. J. & J.
1923, 1928, 1933, 1938 and $12,000 July 1 1943.,
,
election
102.389
102.26
101.37
100.11
101.077
100
102.092
Denom.
Bak
PROPOSED.—Reports
_
Rhoades & Co. and Parkinson & Burr, Hartford
*
Nat.
Oct. 13 the $6,300 4%% 10-yr.
highway-impt. bonds (V. 97, p. 1061) were
1,000,000
1,000,000
the question of
Fletcher American
the
awarded to Breed, Elliott & Harrison of Cincinnati for $6,310 25
(100.162)
and int.
Other bidders were:
First Nat. Bank, Vernon.___$6,307IE. M.
Campbell Sons & Co., Ind.,
J. F. Wild & Co.,
100.375
100.375
Estabrook & C6. and R. L. Day & Co., Boston.
Wm. A. Read & Co., Boston.
Perry, Coffin & Burr, Boston, and Roy T. H. Barnes
& Co., Hartford.
Roy T. H. Barnes & Co., Hartford.
Aetna Life Insurance Co., Hartford
Harris, Forbes & Co., New York
:
a vote
from
102.32
1,000,000
.....
received
1,000,000
10,000
100,000
Harold G. Hart, Hartford
James A. Hutchinson, Boston
i...
Clark, Dodge & Co., New York.
Ladenburg, Thalmann & Co., R. W. Pressprich & Co.,
N. W. Halsey & Co., New York, and Richter & Co.,
also
were
102.163
101.81
,
"
Bids
1,000,000
1,000,000
...
Hartford
Society for Savings, Hartford
Hartford Steam Boiler Inspection Insur. Co., Hartford
Bond & Goodwin and A. B. Leach & Co., New York..
SALE.—On
E. M. Campbell Sons & Co. of
Indianapolis and Edward O'Gary ofLafayette.
;
Blodgett &
Co., Lee, Higginson & Co. and Merrill,
Oldham & Co., Boston
:r
Security Trust Co., Hartford
The Hartford Seminary Foundation_ i
New York Life Insurance
Co., New York...
Ind.—BOND
),
be voted upon, it is
stated, on Nov. 25.
101
106
$50,000
10,000
-
Adams & Co., Blake Bros. & Co. and E.
Sons, New York
Curtis & Sanger, Boston__
1
~
1932.
JASPER COUNTY (P. O. Rensselaer
_
Oct. 11 the $9,000
4%% highway-impt. bonds (V. 97, p. 1061) were award¬
ed to Breed, Elliott & Harrison of
Indianapolis for $9,012 (100.133) and
"HARTFORD, Hartford County, Conn.—BOND SALE.—On Oct. 16
the $1,000,000
xcvii.
JACKSON
COUNTY
(P.
O. Edna),
Tex.—BONDS VOTED.—A
favorable vote was cast at the election held Oct. 5 on the
proposition to
issue the $60,000 road bonds.
int.
were:
Seasongood & Mayer, Cin
Atwood Perrine, Harrison
[vol.
Point), Ind.—BOArD SALE.—Reports
Breed, Elliott & Harrison of Cincinnati
issue of $24,000 4H% road
were
bonds.
BOND OFFERING.—Proposals will be received until
recently awarded
*
10
a.
m.
Oct. 21
by A. J. Swanson, Co. Treas., reports state, for $13,500, $4,600 and $7,50(1
4M%> 10-yr. highway-impt. bonds.
1
Proposals will be received until 10 a. m. Nov. 15 by A. J. Swanson, Co.
Treas., for $14,000 and $14,000 4^% 10-yr. road bonds, reports state.
OCT. 18
LAKEWOOD, Cuyahoga County,
MEMPHIS,
Ohio.—BOND OFFERING.—Pro¬
ordinance was
posals will be received until 12 m. Nov. 3 by B. M. Cook, City Auditor,
for $18,400 5% public improvement bonds.
Denom. (1) $400, (18) $1,000.
Int. A. & O. at Cleveland Trust Co., Cleveland.
Due serially beginning
Certified check for 5% of bid
Oct. 1 1915.
gating $25,170, offered without success on
been sold to local parties at par and int.
MENNO, Hutchinson County, So. Dak.— BONDS \ WITHORAWN
Mayor advises us that the $5,000 refunding bonds
FROM MARKET.—The
bonds, aggre¬
recently offered without success
Aug. 4 (V. 97, p. 392), have
Oct. 24 by M. T. Staley, County Auditor, for
the following 5% flood-emergency bonds:
$20,000 road bonds of an issue of $43,000.
Dated Sept. 1 1913 and due
Sept. 1 1915.
40,000 bridges bonds of an issue of $451,000.
Dates: Nos. 1-80, incl.,
July 1 1913, and Nos. 81-160, incl., Sept. 1 1913.
Due $20,000
Sept. 1 1916 and $20,000 Sept. 1 1917.
Denom. $500.
Int. semi-annually at office of County Auditor,
Certi¬
fied check for 3% of bonds bid for, payable to County Auditor, required.
Bonds to be delivered and paid for within 10 days from time of award.
Purchaser to pay accrued interest.
Bids must be unconditional.
the question of issuing $10,000 armory-site-
LARNED SCHOOL DISTRICT JP. O. Larned), Pawnee County,
Kans.—BOND ELECTION PROPOSED.—Reports state that an election
to submit to a vote the question of issuing
$50,000 high-school bonds.
have been disposed
SCHOOL
TOWNSHIP
DISTRICT
(P.
(V. 97, p. 545.)
CONSOLIDATED SCHOOL DISTRICT (P.
O.
Middle town), Middlesex County, Conn.—BONDS NOT YET SOLD.—
We are advised by the Dist. Treas. that up to Oct. 14 no sale had yet been
made of the $45,000 (unsold portion of an Issue of $95,000) 4M% 11-yr.
(aver.) reg. high-school-impt. bonds offered without success on Sept. 10.
(V. 97, p. 757.)
MILLTOWN SCHOOL DISTRICT (P. O. Milltown), Middlesex
County, N. J.—BONDS AWARDED IN PART.—Of the $16,000 4^%
3 5-6-year (aver.) school bonds offered without success on July 16 (V. 97,
without success on Aug. 15
MIDDLETOWN
^ ,000 yearly Jan. 1been disposed 1917 incl.
314) $8,000 has from 1914 to of. The
Magnetic
O.
County. Ohio.—BOND SALE.—The $3,000
offered without success on June 30 (V. 97, p.132)
of.
MIDDLETOWN, Butler County, Ohio.—NO ACTION YET TAKEN.
—The City Auditor advises us that no action has yet been taken looking
towards the re-offering of the $1,786 10 5% sewer (assess.) bonds offered
Aug. 4 (V. 97, p. 609).
on
a. m.
MIDDLEPORT, Meigs
5% flood-emergency bonds
Meridian), Miss.—BONDS AUTHOR¬
Board of Supervisors voted in favor of the issuance
of $100,000 road bonds for Beat 1.
LAWRENCE COUNTY (P. O. Bedford), Ind.—DESCRIPTION OF
BONDS.—The $4,700 4H% gravel-road bonds awarded on Oct. 6 to the
Citizens' Trust Co. of Bedford for $4,701 (100.021) and int. (V. 97, p. 1062)
are in the denom. of $235 and dated Oct.
1 1913.
Int. M. & N.
Due
$235 each six months from May 15 1914 to Nov. 15 1923, inclusive.
BOND OFFERING.—Proposals will be received until 2 p. m. Nov. 7
by Ezra W. Edwards, County Auditor, for $20,000 4J^% bridge bonds.
Denom. (10) $1,000, (20) $500.
Date Nov. 1 1913.
Int. M. & N.
Due
$2,000 yearly.
Certified check on a Lawrence County bank for $600,
payable to Board of Commissioners, required.
LEE COUNTY (P. O. Sanford), So. Caro.—BONDS NOT YET SOLD.
—We are advised under date of Sept. 27 that no sale has yet been made of
the $25,000 5% 30-yr. county-home and funding bonds offered without
IZED.—On Oct. 9 the
LEESBURG
10
,
will be held in the near future
success
have been withdrawn from the market.
Ohio.—BOND OFFERING.—Proposals
MIAMI COUNTY (P. O. Troy),
will be received until
purchase bonds will be submitted to a vote at the November election.
LANSING, Mich.—BOND ELECTION.—An election will be held Apr. 6
1914 to submit to a vote the question of issuing $300,000 (increased from
$125,000) paving bonds.
,
-
LAUDERDALE COUNTY (P. O.
Tenn.—BONDS AUTHORIZED.—It is stated that an
passed on final reading Oct. 14 providing for the issuance
the $1,500,000 levee-construction bonds voted May 28.
or
(V. 96, p. 1646.)
Ohio.—BOND ELECTION PRO¬
County,
Fairfield
LANCASTER,
POSED.—Reports state that
of $500,000
required.
SALE.—The four issues of 5% paving assessment
BOND
1155
CHRONICLE
THE
1913.]
Denom. $1,000.
unsold portion ($8,000) is due
Springs R. F. D. No. 1). Union County, Ohio.—BOND SALE.—On
Oct. 15 the $10,000 6% 3%■-year (aver.) coup. bldg. bonds (V. 97, p. 1062)
were awarded, it is stated, to the Bank of Marysville at 100.12.
MISSION, Hidalgo County, Tex.—BONDS PROPOSED.—This place
contemplating the issuance of $8,000 sewer and $10,000 water-works
bonds.
'
LEXINGTON,
Fayette
County,
Ky.—BOND
ELECTION.—The
propositions to issue $200,000 municipal-light-plant site and equipment,
MOBILE, Mobile County, Ala.—BONDS NOT YET SOLD.—Up to
Sept. 30 no sale had yet been made of the $150,000 5% 30-year school
bonds offered without success on Aug. 20 (V. 97, p. 609). We are advised
that these bonds will not be re-offered until the market becomes more
$300,000
is
.
city-hall-site-purchase and construction and $30,000 park bonds
a vote on November 4 it is reported.
will be submitted to
favorable.
LIBERTYVILLE, Lake County, 111.—BOND OFFERING.—Proposals
will be received until 8 p. m. Oct. 20 for the $10,000 village-hall-construction
bonds (V. 97, p. 131).
Ohio.—BOND ELECTION.—The election to
Allen County,
LIMA,
MONROE COUNTY (P. O.
to
vote
a
the
LITTLE FERRY SCHOOL DISTRICT
(P. O. Little Ferry), Bergen
district re¬
County, N. J.—BONDS VOTED.—According to reports, this
cently voted to issue not exceeding
$36,000 bldg. bonds.
LODA, Iroquois County, 111.—BOND SALE.—On Sept. 26 an
5%% town-hall bonds was awarded to
Chicago at par and int.
Denom. $500.
Date
Due $500 on April 1 1917, 1918 and 1919. <
of $1,500
issue
A. Goodell & Sons Co. of
April 1 1913. Int. ann.
LOGAN, Logan County, W, Va.—BONDS VOTED.—An election held
25 in favor of tin question
street-impt. bonds.
Bids for these bonds will
Oct. 11 resulted, reports state, In a vote of 246 to
LONGPORT, Atlantic County, N. J.—BOND SALE.—E. W. Clark
Philadelphia have been awarded at par and int. $14,000 sewer,
Atlantid Ave. improvement, $2,000 water and light and $3,000
beach-front-protection 5% bonds.
Denom. $500.
Date June 1 1913.
Int. J. & D.
Due $22,000 June 1 1942 and $3,000 June 1 1922.
$6,000
ELECTION PROPOSED.—An ordinance
must
calling for an election to vote on the question of issuing $6,500,000 aqueduct
power-plant-completion bonds was to have been introduced in Council on
11 Cj
is st**•'
v,
*
the question of
MORGAN
■■■•
.
$145,000,
„
TOWNSHIP
TO
(P.
O.
Madison),
Lake
MULTNOMAH
Ohio.—
MUSKOGEE
MANCHESTER, Hillsboro County, N. H.—BOND SALE.—On Oct; 15
(V. 97, p. 1062) were
Other bidders were:
A. B. Leach & Co., Boston__._99.05
First Nat. Bank, Haverhill—
$100,000__—
__697.44
Merrill, Oldham & Co., Bos__99.079
'
-
♦For $5,COO.
'
A
6 Plus $11 premium,
—c98
$40,000
*
'
c
''
'
' '
'
'
.
;'j
Plus $6 premium.
MANSFIELD, Richland County, Ohio.—BOND SALE.—'The remain¬
ing $5,000 of the $29,950 5% bonds offered without success on
(v. 97, p. 545) have been taken by local banks at par.
Aug. 19
MARCUS HOOK, Delaware County, Pa.—BOND SALE—We are
10 that the $59,000 street-impt. bonds voted
May 6 (V. 96, p. 1855) have been disposed of.
advised under date of Oct.
MARIETTA, Love County, Okla.—BOND SALE.—According to news¬
paper reports, the $35,000
bonds voted Aug. 25 (V. 97,
MARION
COUNTY
(P.
water-works and sewerage-system-extension
p.
O.
545) have been disposed of.
Marion),
Ohio.—BOND
Oct. 13 $6,500 5% free-turnpike assess,
bonds were awarded
First Nat. Bank, Columus, at par and int.
Denom. $200,
and $500.
Date Oct. 11 1913.
Int. M. & S.
SALE.—On
to the New
$300, $400
MARSHALL COUNTY (P. O. Plymouth), Ind.—BOND SALE.—The
$16,200 4M% 8^-year (average) J. P. Hanson et al road bonds offered
without success on Aug. 15 (V. 97, p. 757) have been awarded to Miller &
Co. and Breed, Elliott & Harrison of Indianapolis at par.
MARSHALL
COUNTY
(P. O. Madill), Okla.—BONDS
Reports state that this county recently voted to issue $75,000
and $50,000 bridge bonds.
VOTED.—
court-house
MATAGORDA COUNTY ROAD DISTRICT NO. 5, Tex.—BONDS
PROPOSED.—This road district is considering the issuance of $50,000
road
'
(P. O. Portland), Ore.—BOND ELEC¬
issuing the $1,250,000 (not $750,000 as first r.e-
COUNTY
Korted) bridge-constr. bonds (V. 97, p. 546) will be submitted to a vote on
Fovember4.
.
the $100,000 4-8-year (ser.) 4% refunding water bonds
awarded to E. H. Rollins & Sons of Boston at 99.288.
N. W. Harris & Co., Inc., Bos.99.099
.
TION.—The question of
BE
Citizens' Nat. Bank, Newp_*$99.50
Blodget & Co., Boston
99.18
on
STERLING, Brown County, 111.—BONDS DEFEATED:—The
question of issuing the $16,000 water-works and sewer-system-improvement
bonds (V. 97, p. 681) was defeated at the election held Sept. 29 by a
vote of 198 "for" to 413 "against."
.
County,
.
County, N. Y.—BONDS NOT SOLD.—
of coupon bonds, aggregating
June 23 (V. 96, p. 1787).
These bonds will be re' ' "
MT.
OFFERED AT PRESENT.—'The Township Clerk
advises us that the road bonds voted in June (V. 96, p. 1719) will probably
not be issued until after Jan. 1 1914.
*
NOT
offered
advertised.
MADISON,
Dane .County,
Wis.—BOND OFFERING.—Proposals
or verbal) will be received until 3 p.m. Oct. 24 by O. S. Norsman,
City Clerk, for $100,000 4H% coupon sewage-disposal-works-extension
bonds.
Denom. $1,000.
Date Oct. 1 1913.
Int. annually on Oct. 1 at
First Nat. Bank.
Due $5,000 yearly on Oct. 1 from 1914 to 1933, inclusive.
Certified check for $500 required.
MADISON
DISTRICT NO. 3, Colo.—BOND
$40,000 5% 10-20-year (opt.) refund¬
MOUNT MORRIS, Livingston
(sealed
BONDS
SCHOOL
No sale has yet been made of the two issues
SALE.
$80,000,
.
COUNTY
ing bonds will be submitted to a vote on Nov. 10.
Sr. 97, p. 1757) have been sold to Sidney Spitzer & Co. of Toledo at par.
July
1913.
«
held Nov. 8 to submit to a vote
issuing $100,000 coupon highway bonds.
ELECTION.—The quastion of issuing
of 5% bonds,
aggregating $25,700, offered but not sold on Aug. 1 (V. 97, p. 131), will not
be re-advertised for sale as the Council has been able to appropriate suf¬
ficient money to accomplish work to be done.
ate
be unconditional.
New York.
A deposit of $300 required.
BOND ELECTION.—An election will be
Ohio.—BONDS NOT TO BE RE-
MCDOWELL COUNTY (P. O. Marion), No. Caro.—BOND
three issues of 5J^% 30-yr. township bonds, aggregating
■.
COUNTY (P. O. Clarksville), Tenn.—BOND OF¬
FERING.—Proposals (sealed or verbal) will be received until 11 a. m.
Oct. 22 by C. W. Tyler, County Judge, for an issue of $20,000 5% 30-year
coupon highway bonds.
Denom. $500.
Int. payable in Clarksville or
.
The
* V
MONTGOMERY
LQVELADY TOWNSHIP (P. Q. Granite Falls), Caldwell County,
No. Caro.—BOND ELECTION.—An election will be held Dec. 2, it is re¬
ported, to submit to a vote the question of issuing $25,000 road-impt. bonds.
LOVELL DRAINAGE
DISTRICT, Big Horn
County,
Wyo.—
BONDS NOT SOLD.—No sale has been made of the $45,000 bonds offered
on Aug. 5 (V. 97, p. 313.)
LOWELLVILLE, Mahoning County,
inclusive.
MONTGOMERY COUNTY (P. O. Dayton), Ohio.—BOND OFFER¬
ING.—Proposals will be received until 10 a. m. Oct. 29 by W. H. Aszling,
Secretary of County Commissioners, for $15,000 5% CQup. emergency'
bridge bonds.
Denom. $1,000.
Date Nov. 1 1913. Int. M. & N. at
office of County Treasurer.
Due $2,000 yearly on Nov. 1 from 1914 to
1920 incl. and $1,000 Nov. 1 1921.
Certified check on a solvent bank or
trust company for $250, payable to County Auditor, required.
Bonds to
be delivered and paid for at office of County Treasurer on Nov. 1.
Bids
& Co. of
OFFERED.—The Vil. Treas. advises us that the two issues
months from May 15 1914 to Nov. 15 1923
„
of issuing $50,000 5% 10-yr.
be asked for at once.
LOS ANGELES, Cal.—BOND
proposals until
COUNTY (P. O. Crawfordsville), Ind.—BOND
OFFERING.—Proposals will be deceived until 10 a. m. Oct. 20 by R. W.
Allen, County Treasurer, for the following 4>£% semi-annual roadimprovement bonds:
.
'
$22,800 John H. Fletcher road bonds.
Denom. $1,140. Due $1,140 each
six months from May 15 1914 to Nov. 15 1923 inclusive.
23,000 J. Q. Leavitt road bonds.
Denom. $1,150. Due $1,150 each six
months from May 15 1914 to Noy. 15 1923 inclusive.
4,300 John C. Beebe road bonds.
Denom. $215.
Due $215 each six
months from May 15 1914 to Nov. 15 1923 inclusive.
7,700 Luther Booher road bonds.
Denom. $385.
Due $385 each six
MONTGOMERY
question of issuing the $40,000 electric-light and
$28,000 park bonds (V. 97, p. 905) will be held Nov. 4.
submit
Bloomington), Ind.—BOND OFFERING.
—Reports state that W. W. Weaver, Co. Treas., will receive
10 a. m. Oct. 27 for $6,000 4^ % 10-yr. road-impt. bonds.
COUNTY
(P.
O.
Okla.—BOWDS DE¬
court¬
NAPA,
Napa
County,
Calif.r-BOND ELECTION PROPOSED.—
Reports state that an election will shortly be held to submit to a vote the
question of issuing $12,000 fire-auto, $4,000 Jack's Point-purchase, $9,000
storm-sewer, $22,000 First St. bridge-constr. over Napa River and $70,000
city-hall-site and building bonds.
NASHVILLR,
Washington
County,
111.—BONDS DEFEATED.—
The proposition to issue $7,500 city-hall-construction bonds was defeated,
it is stated, at the election held Oct. 2 by a vote of 127 "for" to 282 "agst."
NASHVILLE, Tenn.—NO ACTION YET TAKEN.—We are
that no action has yet been taken looking towards the issuance of the
street-paving bonds authorized Aug. 14 (V. 97, p. 546.).
NELSONVILLE,
Athens
County,
advised
$33,000
Ohio.— BONDS NOT SOLD.—
bonds, aggre¬
No bids were received for the two issues Of 5% street-impt.
gating $5,095 86. offered on Oct. 11 (V. 97, p. 906).
NEW
BEDFORD,
Bristol County, Mass.—BOND SALE.—The fol¬
aggregating $550,000, offered without success on
disposed of as,follows:
lowing tax-free bonds,
June 19 (V. 96, p. 1787), have been
$250,000 5% registered Municipal Loan No. 1 bonds of 1913 awarded on
June 25 to Blodget & Co. of Boston at par.
Due $25,000
yrly. Mar. 1 from 1914 to 1923 incl.
70,000 4% coup, sewer bonds awarded on June 25 to Blodget & Co. of
Boston at par.
Due $4,000 yrly. July 1 from 1914 to 1923
incl. and $3,000 yrly. July 1 from 1924 to 1933 incl.
30,000 4H% coup, sewer bonds awarded on July 19 to the N. B. 5c.
Savings Bank at 100.75.
Due $3,000 yrly July 1 from 1934
to
1943 incl.
140,000 4% coup, sewer bonds awarded on June 25 to Blodget & Co. of
Boston at par.
Due $8,000 yrly. June 1 1914 to 1923 incl.
and $6,000 yrly. June 1 1924 to 1933 incl.
60,000 4H% coup, sewer bonds awarded on July 19 to the N. B. 5c.
Savings Bank at 100.75.
Due $6,000 yrly- June 1 from 1934
to
1943 incl.
NEW BERN, Craven County,
bonds.
Muskogee),
FEATED.—Reports state that the question of issuing $235,000
house-purchase bonds was defeated at the election held Sept. 30.
No. Caro.—BONDS AUTHORIZED.—
Oct. 14 the $50,000 loan, maturing April 3 1914,
According to reports, the Board of Aldermen on Oct. 7 authorized the issu¬
ance of $20,000 6% coup, bonds.
Due in 3 years, subject to call.
(V. 97, p. 1062) was
4.125% discount.
Local papers state that on Oct. 14 the City
MEDFORD,
Middlesex
taxes
Mass.—TEMPORARY LOAN.—On
issued in anticipation of
negotiated with Reddington Fiske of [Boston at
County,
(P.
O. Pomeroy), Ohio.—BOND SALE.—The
Pomeroy Nat. Bank of Pomeroy was awarded on Aug. 2 $20,000 5H%
bridge bonds.
These bonds were offered on June 2 as 43^s (Y. 96, p. 1511).
MEIGS
COUNTY
NEW
Hartford County, Conn.—BONDS PROPOSED.—
Council passed a resolution pro¬
Denom. $1,000;
Ipt. F. & A. at the New Britain Bank.
Due $2,000 yearly Aug. 1 from
BRITAIN,
viding for the issuance of $50,000 4 H % coup, park bonds.
1914 to 1938 incl.
1156
NEW
THE
KENSINGTON, Westmoreland County, Pa
CHRONICLE
TION.—Reports state that an election will be held Nov. 4 to submit to a
vote the question of issuing
$100,000 street and sewer-impt. bonds.
'_NEW KENSINGTON
SCHOOL DISTRICT (P. O. New Kensington).
1720).
NEW
-
PROPOSED.
bonds will be submitted
at
101.039 and int.
Other bidders
LOAN
12
a
sewer-constr. bonds
Denom. $500 and $100.
$3,200 yrly. for 9 years.
were
NORWOOD, Norfolk County, Mass.—BOND
Nat. Bank, Norwood,
month
awarded to local parties
Int. F. & A.
Due
Date Aug. 1 1913.
N.
Int. J.&D.
Due $2,000 yrly Dec. 30from 1913 to 1931
incl.
4 A % school notes awarded on May 3, $46,400 to Estabrook & Co.,
-57,000
RAVALLI COUNTY SCHOOL DISTRICT
NO. 3 (P. O. Hamilton),
Mont.—BOND OFFERING.—Proposals will be
received until 3 p. m. Nov.3
by Lloyd Reimel, Dist. Clerk, for $14,000
10-20-yr. (opt.) bldg. and equip,
bonds at not
exceeding 5% int.
Denom. $1,000.
Int. semi-ann. at office
of Co. Treas.
Cert, check for 5% of bonds bid
for, payable to above,
required.
RED BLUFF, Tehania
County, Calif.—BOND ELECTION.—The
election to vote on the question of
issuing about $85,000 water-system bonds
(V. 97, p. 468) will be held Nov. 22.
SALE.—The Norwood
awarded on June 25 $50,000 4% 1-25-year
(ser.)
Denom. $2,500.
Date Dec. 30 1913.
Int.'J. &D.
NOTE SALE.—This city has
disposed of the following notes:
$38,000 4%
park and office-building-lot notes awarded on Mar. 30 to
Geo. F. Willett at par.
Denom. $2,000. Date Dec. 30 1912.
was
sewerage bonds at par.
Boston, and $10,600 to Division 1, Ancient Order of Hi¬
bernians, at 100.50.
Denom.. (19)
$2,900,
(1) $1,900.
Int. J. & D.
Due $2,900 yearly from 1913 to 1931 incl.
.
RED RIVER COUNTY
(P. O.
OAK
m.
Nov. 10 by Louis
Carstensen,
Yil. Clerk,
coup, municipal-electric-light bonds voted Sept. 16
(V. 97, p. 832).
Denom. $500.
Date,Oct. 1 1913.
Int. A. & O.
Due
$500 in 1914, $1,000 in 1915, $2,000 from 1916 to 1921 incl.and
$2,500 in
1922, 1923 and 1924.
Cert, check for 5% of bonds bid
for, payable to
Vil. Treas., required.
Bonds to be delivered and paid for within 10
days
from time of award.
Purchaser to pay accrued interest.
OCEANSIDE,
San
Diego
County,
Cal.—BOND OFFERING .—Re¬
ports state that bids will be received by H. D.
Brodie, City Clerk, at 4
p.m. Oct. 22 for an issue of $22,300
7% sewer-system-installation bonds.
OLIVET, SCHOOL DISTRICT, Sonoma County, Cal.—BIDS RE¬
JECTED.—All bids received for the $3,000
6%'bldg. bonds offered on Oct. 7
were
rejected.
ORANGE COUNTY (P. O,
Orlando), Fla.—BOND ELECTION.—
The election to vote on the
question of issuing the $600,000 30-year road
bonds at not exceeding 5lA % int.
(V. 97, p. 906) will be held Nov. 11.
ORTLEY, Roberts County,
So.
Dak.—BOND
SALE.—An
issue
of
$3,000 5% 20-yr. funding bonds has been awarded to
"Roberts County."
X>enom. $500.
Date July 7 1913.
Int. J. & J.
OWEN COUNTY
(P. O. Spencer), Ind.—BOND SALE.—On Oct.
13
the $12,005 60 4A%
highway-impt. bonds (V. 97, p. 1062) were awarded,
it is stated, to the Fletcher-American Nat.
Bank at par, accrued int. and
$56 premium.
ROSENBERG,
Fort Bend County, Tex.—BONDS VOTED.—The
of issuing $18,500
water-works-plant-installation and $12,500
street-impt. 5% 40-yr. bonds carried at the election held Oct. 8
by a vote
of 102 to 17 and 102 to 15
respectively.
Bonds will be offered, we are
informed, in January or February.
questions
county.
PARKE
COUNTY
(P.
O. Rockville),. Ind.—BOND OFFERING.—
Reports state that J. H. Rush, County Treasurer, will receive
proposals
until Oct. 21 for an issue of $3,100
10-year gravel-road bonds.
PASADENA
SCHOOL DISTRICT (P. O.
Pasadena), Los" Angeles
Cal.—BOND ELECTION.—Reports state that an
election to
the question of issuing
$191,000 bonds will be held Nov. 12.
County,
vote oh
PASCAGOULA, Jackson County, Miss.—BONDS AUTHORIZED.—
Reports state that the Mayor and Board of Aldermen on Oct.
9 authorized
4;he issuance of $25,000
6% 20-yr. public-wharf bonds.
PASSAIC, N. J.—BOND SALE.—The $236,000 4A%
30-year reg.
Improvement and refunding bonds (V. 96, p. 1317) have been
awarded at
par and int. as follows:
$123,000 awarded during June and July to
Kean,
Taylor & Co. of New York and the remainder
($113,000) awarded on
Oct.
15 to Adams & Co. of New York.-
-
PEEKSKILL, Westchester County, N. Y.—BOND SALE.—An
•of $5,500 5%
par on
part
issue
was awarded to the Peekskill
Sav. Bank at
Denom. $500.
Date Nov. 1 1913.
Int. M. & N.
Due
to 1928.
fire-engine bonds
Sept. 30.
on
Nov. 1 from 1918
PELHAM, Westchester County, N. Y.—BOND
OFFERING.—Further
are at
•details
st.
hand relative to the
impt. bonds
at not
offering on Oct. 22 of the $20,000 reg.
exceeding 5% int. (V. 97, p. 1063).
Proposals for
these bonds will be received until 8
p. m. on that day by the Village
Board,
L. M. Simonson, Clerk.
Denom. $1,000.
Date Aug. 1
1913.
"Int.
F. & A.
Due $2,000 yrly. on Aug. 1 from 1918 to
1927 incl.
Cert, check
on an incorporated State or national
bank of N. Y. C. for
$400, payable
unconditionally to the "Village of Pelham,,, required.
These bonds will
be certified as to genuineness
by the Col .-Knickerbocker Tr. Co. and their
legality approved by Caldwell, Masslich & Reed of N. Y.
C;, whose opinion
as- to regularity will be furnished
purchasers.
Bonds to be delivered and
paid for at office of above trust company on Nov. 5.
accrued interest.
Bids must be made
on
PHELPS SCHOOL DISTRICT
(P.
N. Y .—BONDS NOT TO BE OFFERED
that
the
success
of
$30,000
on
4A%
June 2 (V.
1914.
PHOENIX,
Oct.
were
bids
BERNARD
(P.
97,
Purchaser to pay
forms furnished by the Clerk.
0.
Phelps),
Ontario
AT PRESENT .—We
County,
are
advised
16 1-3-year (av.) school bonds offered
without
p. 133) will not be re-offered until the
early part
Maricopa
County,
Ariz.—BONDS
O.
Ohio.—BOND
SALE.—On
were:
Prov. S. B. & Tr,. Co., Cin.$8,429 60
Field, Longstreth & Rich¬
ards, Cincinnati
8,420 00
Davies-Bertram Co., Cin__ 8,417 00
Stacy & Braun, Toledo
8,417 00
Weil, Roth & Co., Cin
8,392 00
Denom. $500.
Date Aug. 1 1913
ST. MARY'S, Auglaize
the $2,500
5%
plant-repair
assess,
Tillotson & Wolcott Co.,Cin$8,357 60
8,320 00
A. E. Aub & Co., Cin
Fifth-Third
Nat.
Bank,
Cincinnati
Hanchett Bond Co., Chi.:.
Int.
F.
8,201 50
8,093 00
<fe A.
County, Ohio.—BONDS SOLD.—On Oct. 11
taxable sanitary-sewer and
sewage-disposalbonds (V. 97, p. 907) were awarded to Davies-Bertram
12-yr,
(av.)
Co. of Cincinnati at 100.52 and int.
Other bids
were:
Provident Savings Bank & Trust Co., Cincinnati.
.$2,502 50
Security Say. Bank & Tr. Co., Toledo. .$2,505, less $40 for
attorney's fees.
ST. PETERSBURG, Pinellas
County, Fla.—BONDS VOTED.—'The
questions of issuing the $43,500 water-front, $15,000 reservoir
p ark, $41,850
Bayboro harbor, $20,000 incinerator, $7,400 A. W. L.
building, $20,500
paving, $41,000 water-works, $26,800 redemption of revenue bonds and
$11,000 fire department 6% 30-year bonds carried, it is
stated, at the
election held Oct. 7.
;
SALEM,
4%
1-10-yr.
Essex County, Mass.—BOND SALE.—An issue of $15,000
(ser.) underground wire bonds was awarded on May 1 to a
Denom. $1,000.
Date April 1 1913.
Int.A.&O
SAN ANGELO SCHOOL DISTRICT
(P. O. San Angelo), Tom Green
County, Tex.—BONDS PROPOSED.—An issue of $25,000 school bonds
is
being contemplated by this district.
SAN
ANTONIO
INDEPENDENT
BIDS REJECTED.—All bids received
(opt.) bldg. bonds offered
yr.
on
on
•
•«•■'.
SCHOOL
DISTRICT,
Tex.—
Oct. 1 for the $300,000
5% 20-40-
that day (V. 97, p. 907) were
rejected.
SAN BERNARDINO SCHOOL DISTRICT
(P. O. San
Bernardino),
San Bernardino County, Tex.—BOND ELECTION
PROPOSED.—An
election will be held in the near future, it is
stated, to vote on thequestion
of issuing about'$250,000 bonds for a polytechnic
high-school.
SAN
DIEGO,
San Diego County,
election will be held Oct. 21
Calif.—BOND ELECTION.—An
a vote the questions of
issuing
to submit to
$645,000 water-Impounding, $200,000 emergency-system-constr., $60,000
filtration and $75,000 water-pipe-acquisition bonds.
SAN
FRANCISCO, Cal.—BONDS OFFERED OVER COUNTER.—
City Treas. John E. McDougald is offering for sale over the counter at par
int. the following, 5% gold coup,
tax-exempt bonds, aggregating
$1,190,000:
»
'
"
$150,000 school bonds of 1908.
Due $6,000 yrly. from 1914 to 1938 Incl.
160,000 sewer bonds of 1908.
Due $4,000 yrly. from 1915 to 1954 incl.
880,000 city-hall bonds of 1912.
Due $20,000 yrly. from 1917 to 1960incl.
Denom. $1,000.
Int. J. & J.
The legality of these bonds has been
passed upon and approved by Dillon, Thompson & Clay of N. Y.
In an advertisement appearing in San Francisco
papers dated Oct. 7
it was reported that $210,000 of the above-mentioned bonds
were sold in,
the past 5 days.
BOND SALE.—The remaining portion ($133,000) of the
$963,000 5%
bonds (V. 97, p. 970) has been disposed of over the counter at
par.
SAN MIGUEL COUNTY SCHOOL DISTRICT NO.
10, New Mex.—
BOND SALE.—On Oct. 9 $5,000 6% 10-20-year
(opts.) building bonds were
awarded to the People's Bank & Trust Co. of Las
Vegas at 96.
Other
and
bids
wcrct
h
*
*
W. E. Sweet & Co.,
Denver..*$4,8751 Causey,<tFQster&Co.,Denv..$4,753 00
Wright & Co., Denver.. 4-800|R. L. M. Ross, Las Vegas. 4,752 68
C. H, Coffin, Chicago—
4,7551
J. N.
*
This bid appears higher than that of the purchasers, but is
the County Treasurer.
Denom. $100.
so
given by'
.
Date Oct. 9 1913.
Int. A. $ O.
SAN MIGUEL COUNTY SCHOOL DISTRICT NO.
21, New Mex.—
are advised that no bids
were received for the
on Oct. 9.
BONDS NOT SOLD.—We
$2,500 6% building bonds offered
SAN MIGUEL COUNTY SCHOOL DISTRICT NO.
97, New Mex.—
SOLD.—No bids were received for the
BONDS NOT
building bonds offered on Oct.
VOTED.—Local
funding,
Cincinnati),
14 the $8,000 5% 30-yr.
park and playground bonds (V. 97, p. 832)
awarded to Seasongood & Mayer of
Cincinnati at 106.175.
Other
local party at par and int.
OXFORD TOWNSHIP SCHOOL DISTRICT
(P. O. Oxford), Warren
N. J.—«•BOND OFFERING.—Proposals will be received
until
Oct. 24 (opened at
7,p. m.) by Newman A. Jones, Pres. Board of Education,'
for $20,000 5% coupon school bonds.
Denom. $100.
Date Oct. 15 1913.
Int. A. & O.
Due $2,000 yearly on Oct. 15 from 1914 to
1923, inclusive.
PALO PINTO COUNTY (P. O. Palo
Pinto), Tex.—BONDS PRO¬
POSED.—An issue of $175,000 road bonds is
being contemplated by this
County,
ELECTION
394).
p.
ST.
HARBOR, Ottawa County, Ohio.—BOND OFFERING.—Pro¬
Clarksville), Tex.—BOND
PROPOSED.—According to reports, an election will be held in the near
future to submit to a vote the
question of issuing $200,000 good-road bonds.
A like amount of bonds was
defeated at the election held
July 12 (V. 97,
and $1,900 in 1932.
posals will be received until 12
for the $20,OQO 5%
PROPOSED.—According
to local newspaper reports, the issuance
school-improvement bonds is contemplated.
RANDOLPH COUNTY (P. O.
Winchester), Ind.—BOND SALE.—
On Oct. 1 the two issues of
4A% 1-10-yr. (ser.) gravel-road bonds, aggre¬
gating $29,300, offered on Sept. 27 (V.
97, p. 907), were awarded to Breed,
Elliott & Harrison of
Indianapolis at par and int.
Date Aug. 15 1913.
Int. M. &
of $35,000
•
of August $28,800 4%
Oct. 7 authorized the issuance of
$25,000 street-improve¬
on
bonds, reports state.
BONDS
state that proposals will be received unti
loan of $40,000 maturing April 2
1914 issued in antici¬
at par.
,
Council
ment
Blodget & Co., Boston_n__>_100.63
Curtis & Sanger, Boston
100.63
E. H. Rollins & Sons, Bos.-.100.628
Blake Bros. & Co., Boston__100.60
N. W. Harris & Co., Boston. 100.534
NORWAY, Oxford County, Me.—BOND SALE.—During the
,
RACINE, Racine County, Wis.—BONDS AUTHORIZED.—The
Com-;
mon
were:
NORTH PLAINFIELD
(P. O. Plainfield), Union County, N. J.—
NO ACTION YET TAKEN.—No
action has yet been taken looking towards
the issuance of the $25,000 sewer bonds voted
July 15 (V. 97, p. 192).
;
on Oct. 10
(V. 97, p. 906) have been awarded, reports state,
Stacy & Braun of Cincinnati at 103.17.
1
to
SALE.—On
tax-free sidewalk-constr.
Paine, Webber & Co. of Boston
coup.,
OFFERING.—Reports
Oct. 21 for
m.
pation of taxes.
school-impt.
bonds offered
NORTHAMPTON, Hampshire County, Mass.—BOND
Clement, Parker & Co., Bos. 101.01
Merrill, Oldham & Co., Bos.100.919
W. L. Raymond & Co., Bos.100.88
Lee, Higginson & Co., Bos__100.88
Adams & C6.,'Boston_100.87
Perry, Coffin & Burr, Bost, .100.755
Aug. 11
PORTSMOUTH, Scioto County, Ohio.—BOND SALE.—The fol¬
were received for the
$3,000 5% 5-year police-departmentbuilding and equipment bonds offered on
Oct. 14 (V. 97, p. 758):
First Nat., Central Nat. and
Security Savs. banks, Portsmouth.$3,010 50
Field, Longstreth & Richards, Cincinnati..
3,007 80
PORTSMOUTH CITY SCHOOL DISTRICT
(P. O. Portsmouth),
Scioto County, Ohio.—BOND
SALE.—The $59,000 5%
NEWPORT, Campbell County, Ky.—BOND ELECTION
Oct. 13 the $10,000
4A% 3-yr. (aver.)
bonds (V. 97, p. 1062) were awarded to
success on
9( V. 97, p. 907).
$1,500 6% tax-free
newspaper reports state that the questions of
issuing the $125,000
SAULT STE. MARIE, Chippewa County,
Mich.—BONDS PROPOSED
—We are advised that this cty will issue bonds to refund an
issue of
fire-department-improvement
6% bonds, due April
$25,000 public-park-site-purchase, $25,000
street-improvement and $75,000
1063) carried at the elec¬
bonds (V. 97, p.
tion held Oct. 11 by a vote of 370 to
154.
PIKE COUNTY (P. O.
Magnolia), Miss.—BONDS AWARDED IN
state that $50,000 of the $200,000
road-construction
bonds offered without success on
Sept. 1 (V.97, p. 832) has been awarded
to the Magnolia Bank of
Magnolia.
PART.—Reports
PINELLAS COUNTY (P. O.
Clearwater), Fla.—BOND SALE.—On
1 the four issues of 6% school
bonds, aggregating $95,000 (V. 97,
p.
682), were awarded, it is stated, to John Nuveen & Co. of
Chicago for $95.850 (100.894) and int.
Oct.
PITTSBURG
SCHOOL DISTRICT,
Contra Costa
County, Cal.—
BOND SALE.—The $53,000
5H% gold school bonds (V. 97, p. 9^0) were
on Oct.
6, it is stated, to N. W. Halsey & Co. for
$53,563 50.
•eqqal to 101.063.
Denom. $1,000.
Date Nov. 1 1913.
Int. M. & N.
Due $1,000
yrly. Nov. 1 from 1914 to 1940,incl.,and $2,000 yrly. Nov. 1
from 1941 to 1953, incl.
*
awarded
POLK COUNTY SPECIAL TAX SCHOOL
DISTRICT NO. 1 (P. O
Bartow), Fla.—BONDS TO BE OFFERED SHORTLY— We
are
>
lowing bids
LEXINGTON, Perry County, Ohio.—BOND SALE.—'The
5%
2234-yr.
(aver.) coup, water-works-plant-purchase bonds
p. 906) were sold, it is stated, on Oct. 13.
'—The proposition to issue
$100,000 street-constr.
to a vote at the fall election, it is stated.-
xcvii.
PORTER COUNTY (P. O.
Valparaiso), Ind.—BOND OFFERING.—
Reports state that proposals will be received until
10 a. m. Oct. 25 by B. H.
Urbahns. Co. Treas., for $4,500 4A%
10-yr. highway-impt. bonds.
Westmoreland County, Pa.—BOND SALE.—This district has
disposed
of $150,000 5% 25 2-3-year
(av.) school bonds.
These bonds were offered
on June 21 as 4 As
(V. 96. p.
•'$50,000
(V. 97,
[Vol.
that the $50,000 5%
20-yr. school bonds offered without
(V. 97, p. 758) will be re-offered
during November.
ELEC-
advised
$30,000
1 1917.
SCOTCH-IRISH TOWNSHIP, Rowan County, No.
Caro.—BONDS
DEFEATED.—The question of issuing the $20,000
5% 30-year road-constr.
bonds (V. 97, p. 547) was defeated, it is stated, at the election
held Oct. 1
by a vote of 23 "for" to 90 "against."
SCOTT COUNTY (P. O. Scottsburg), Ind.—BOND
OFFERING.—
Proposals will be received until 2 p. m. Oct. 20 by Hugh Colvin, Co.
Treas.,
C. Parks et al. road-impt. bonds.
Denom. $79 85.
for $1,597 4H% A.
Date Oct. 15 1913.
Int. M.
&
N.
Due
$78 85
each six
months from
May 15 1914 to Nov. 15 1923 incl.
SCRANTON, Lackawanna County, Pa .—BOND SALE.—On Oct. 14
Montgomery, Clothier & Tyler of Philadelphia were the successful bidders
for the $360,000 4A % 1-30-yr. (ser.) municipal impt. bonds
(V. 97, p. 970)
SEA ISLE CITY,
Cape May County, N. J.-^BOIVD SALE.—The
$48,000 5% 30-year refunding bonds (V. 97, p. 547) have been
disposed
private sale to local investors at par.
Denom. $500.
Date Feb. 1
1913.
Interest F. & A.
of at
SEATTLE, Wash.—BONDS NOT YET ISSUED.—The Deputy
Comp¬
us that the following bonds have been
authorized, but as
troller advises
O0T. 18
yet have not been issued or sold:
$500,000
$300,000 canal tunnel, $400,000 masonry dam,
(V. 96, p.
May 17
on
success
1923^ncl.
$220,000 impt. bonds.
Due $22,000 yrly. on Sept. 1 from 1914 to
23,000 impt. bonds.
Due $4,600 yrly. on Sept. 1 from 1914 to 1918| ncl.
Proposals for these bonds will be received until 1 p. m. on that day by
M. E. Monahan, City Compt.
Denom. to suit purchaser.
Date Sept. 1
1913.
Int. M. & S. at office of City Treas. or remitted in N. Y. exchange,
at option of holder.
Cert, check for 2% of bonds bid for, payable to City
Compt., required if bid is over $2,000.
Bonds to be delivered and paid for
at Columbia-Knickerbocker Tr. Co., N. Y. C., at 11 a. m. Oct. 31, unless
a subsequent date shall be mutually agreed upon in writing.
These bonds
will be certified as to genuineness by the above trust company.
Purchaser
to pay accrued interest.
Bids must be unconditional and upon blank forms
furnished by the City Comptroller.
water-shed-condemnation,
$425,000 auxiliary steam
$125,000 tuberculosis-hospital
onds.
Two of municipal
aggregating
Elant, $500,000 these issues,railway and
$725,000, were offered without
1789).
election will be held Mar. 3 1914, it is stated, to
submit to
a vote the propositions
to issue $410,000 Sixth Ave. N. E.,
$420,000 Fremont, $460,000 Fifteenth Ave. N.W. and $650,000 Spokane
Ave. bridge-constr. bonds.
BOND ELECTION.—An
SHAMOKIN SCHOOL DISTRICT
County, Pa.—BONDS NOT
berland
(P. O. Shamokin), Northum¬
YET ISSUED.—We are advised
TAMPA, Fla.—BOND SALE.—Newspaper dispatches say that arrange¬
consummated Oct. 14 between the city of Tampa and the Mer¬
Trust & Deposit Co. of Baltimore whereby that
concern buys
$1,100,000 of Tampa improvement bonds at par and accrued interest.
The issue recently voted was for $1,700,000.
Local banks took $500,000
(opt.) bldg. bonds voted May 20
Denom. $100, $500 and, $1,000.
by the Sec. that the $150,000 434 % 5-30-yr.
< v. 96, p. 1648) have not yet been issued.
Date April 1 1914.
ments were
cantile
O. Shelbyville), Ind.—BOND OFFERING.-
SHELBY COUNTY (P.
According to reports, proposals will be received until 10 a. m. Nov, 1 by
W. A. McDonald, Co. Treas., for $5,260 and $1,260 434 % 10-year highway
$100,000.
See V. 97, p. 547.
Pinellas County, Fla.—BOND ELECTION
DEFERRED.—The City Clerk advises us that the election which was to
have been held Oct. 14 to vote on the proposition to issue the $60,000 5%
10-35-yr. (opt.) general impt. bonds (V. 97, p. 907) has been deferred
and
Osceola County, Iowa —PRICE PAID FOR BONDS.—We
534 % sewer bonds awarded
14 (V. 97, p. 255) was par.
$500.
Date July 1 1913.
Int. J. & J.
Due $1,000 yearly from
SIBLEY,
are
advised that the price paid for the $14,000
Bechtel & Co. of Davenport on May
to G. M.
Denom.
for
SKIPANON SCHOOL
SPRINGS,
REGISTERED.>—The following bonds
during the week ending Oct. 11:
Purpose.
Rate.
$4,000--Weatherford
Sewer
5%
22,500,-Weatherford
Water-works
5%
1,000--Brown Co. C. S.'D. No. 14--School-house
5%
700--Brown Co. C. S. D. No. 27-"
5%
8,000.-Matagorda Co.C.S-D.No.20"
5%
3,000--Tarrant Co. O. S. D. No. 96_
"
5%
DISTRICT NO. 2 (P. O. Warrenton), Clat¬
(Town)
UNION FREE SCHOOL DISTRICT
O. Southampton), Suffolk County, N. Y.—BONDS NOT
SOUTHAMPTON
6
(P.
SOLD.—No sale was made of the $25,000 434 % reg. school addition bonds
offered on Oct. 10 (V. 97, p. 970).
Denom. $1,000.
Date Jan. 1 1914.
Int. ann. on Jan. 1 at the Southampton Bank.
Due $1,000 yrly. from
60,000-_Matagorda Co. Road. D. No. 4—
PASADENA, Los Angeles County.
Cal.—RESULT OF
ELECTION.—Unofficial returns state that the election held Oct. 8
resulted in favor of the proposition to issue $200,000 sewer, $28,000 fireprotection, $12,000 paving and $10,000 city-farm bonds, and in defeat of
the question of issuing the $300,000 water bonds (V. 97, p. 907).
SOUTH WILLIAMSPORT (P. O. Williamsport), Lycoming County,
Pa .—BONDS NOT TO BE OFFERED AT PRESENT.—We are advised
that the $23,000 434 % street bonds voted Aug. 12 (V. 97, p. 547) will not
be offered for sale until some time in the spring of 1914.
SOUTH
BOND
SCHOOL DISTRICT (P. O. Spangler),
Pa.—BOND OFFERING.—This district is offering for
SPANGLER BOROUGH
refunding and funding
sale $17,000 434 % 5-20-year (opt.) coupon tax-free
bonds.
Denom. $500.
Date Jan. 1 1913.
Int.
J. & J.
June 16 (V. 96, p. 1789).
offered without success on
.
,
Mass.—BOND OFFERING.—
Oct. 29 by Eliphalet T. Tifft, City
County,
Hampden
SPRINGFIELD,
These bonds
Proposals will be received until 12 m.
Treas., for the following gold tax-free bonds:
$400,000 4% Dwight and Water Sts. railroad
.
under-pass coup. loan bonds
Due $14,000 yearly on Nov. 1
$1,000.
Denom.
of 1913.
•
from 1914 to 1923 incl. and
$13,000 yearly on Nov. 1 from
1924 to 1943 incl.
250,000 434 % Westfield
•
'
-
$10,000 yearly on
both principal and interest
Nat. Bank of Boston, or
or
any
in registered bonds, of $1,000 each,
multiple thereof, the principal and interest
bonds of this loan may at any
before maturity exchange same
220,000 4)4% reg.
any
school
multiple
Nov. 1 from 1914 to
tiple thereof.
loan bonds of 1913.
Denom.
thereof. Due $11,000 lyearly on
1933 incl.
39,500 434 % reg. school loan bonds of
.
time more than one year
for registered bonds.
yearly
Buckingham
$1,000 or
being
Holders of coup,
Denom. $1,000 or any multiple thereof.
on Nov. 1 from 1914 to 1938 incl.
50,0004% reg. sewer bonds.
Due $2,000
This
being made payable at the First
payable at the City Treas. office.
made
Due
bonds of $1,000 each
loan will be issued in either coupon
(
<
-•
bonds of 1913.
Nov. 1 from 1914 to 1938 incl.
River water loan
Little
.
.
1913.Denom.
.
'
/
$500 or any mul¬
Due $2,000 yearly on Nov. 1 from 1914 t<y
1932 incl. and $1,500 on Nov. 1 1933.
.
55,500 434% reg. municipal loan
multiple thereof.
bonds of 1913.
Denom. $500 or any
Due on Nov. 1 as follows: $6,500 in
$6,000 yearly from
1914,
1915 to 1918 incl. and $5,000
yearly from 1919 to 1923 incl.
Date Nov.
Int. M. & N. at
1913.
1
first issue, which is
office of City Treas., except on
payable at First Nat. Bank of Boston and on second
Cert, check for 1% of bonds bid for,
issue, which is payable as stated.
The coupon bonds will be
to genuineness by the Old Colony Trust Co. and the legality
issues will be approved by Storey, Thorndike, Palmer & Dodge
payable to "City of Springfield," required.
certified
as
of the other
of Boston.
*
The
official notice of this bond offering
ments elsewhere in
this Department.
will be found among the advertise¬
"
'
■
.
SPRINGFIELD, Clark County, Ohio.—BOND OFFERING.—Pro¬
posals (sealed or verbal)-will be received until 8 p. m. Nov. 11 by F. X.
Lothschuetz, City Aud., for the following 5% coup, bonds:
$17,842 30 city's share impt, bonds.
Denom. (17) $1,000. (1) $842 30.
Date Sept. 1 1913.
Due on Sept. 1 as follows:
$5,000 in 1927,
1928 and 1929 and $2,842 30 in 1930.
5,000 00 emergency bonds.
Denom. $1,000.
Date Sept. 1,1913. Due
$1,000 yrly. on Sept. 1 from 1915 to 1919 incl.
5,485 20street-impt. (assess.) bonds.
Denom. $1,097 04.
Date Aug.21
1913.
Due $1,097 04 yrly, from 1914 to 1918 incl.
Int. M. & S. at office of City Treas.
Cert, check for 5% of bonds bid
for, required.
Bonds to be delivered and paid for within 10 days from
time of award.
<
(P. O. Canton), Ohio.—BOND SALE.—The two
issues of 5% MassilIon-Navarre road-extension improvement bonds, aggre¬
gating $50,000, offered on Oct. 10 (V. 97, p. 907) have been sold to Farson,
STARK COUNTY
Son &
Co. of New York at 100.37.
STEUBEN
SCHOOL
DISTRICT,
REJECTED.—All bids received
offered
on
that
STEVENS
day
were
COUNTY
on
Sonoma
Cal.—BID S
County,
Oct. 7 for the $2,500 6%
building bonds
SCHOOL
DISTRICT
TIFFIN, Seneca County, Ohio.—BOND ELECTION PROPOSED.—
According to local newspaper reports, an election will be held in the near
question of issuing $300,000 Sandusky River retain-
future to vote on the
ing-walls-constr. and impt. bonds.
TOISNOT (P. O. Elm City), Wilson County, No. Caro.—BOND
OFFERING.—Additional information is at hand relative to the offering
to-day (Oct. 18) of the $10,000 6% 20-yr. coup, water-works and sewerage
bonds (V. 97, p. 1064).
Proposals for these bonds will be received until
12 o'clock noon by Clarence Winsted, Clerk of Board.
Denom. $250.
Int. J. & J. at place to suit purchaser.
Cert, check for 2%, payable to
Town Treas., required.
.
.
TOLEDO, Ohio.—BONDS NOT YET SOLD.—The Secy. Board of
Sinking Fund Trustees advises us under date of Oct. 10 that no sale has yet
been made of the three issues
of 4)4 % coupon bonds,
plan will be first tested by an
SALES FOR
BOND
issue of less than $20,000.
Q UARTER.—During the quarter ending
THIRD
30 the following eight issues of 5% assessment bonds, aggregating
$1Q7,126 83, were purchased by the Sinking Fund at par:
Amount.
Purpose.
Amount.
Purpose
$76 136 39 High-press, wat. mains. $4,955 75 Warsaw St. No. 1.
911 12 Sewer No. 1155.
19,953 00 Champlain St. No. 1.
511 85 Sewer No. 1157.
3,024 30 Mulberry St. No. 4.
692 52 Sewer No. 1158.
941 90 Sewer No. 1135.
Due 1 bond of
(first 4 issues) Aug.
Sept.
_
1 1913, (last 4) Sept. 10 1913
1914 to 1918 incl.
Date
each issue payable in installments from
The following general bonds were also
Amount.
Rate.
$25,000
10,000
10,000
4)4%
4%
4%
purchased by the Sinking Fund:
Date.
-.-.June 1 1913
Dec. 1 1912
—--Dec. 1 1912
Purpose.
Park and boulevard.
Bridge...
City-hall
15 the six issues of
BOND SALE.—On Oct.
SYRACUSE, N. Y.—BOND OFFERING.—Further details are at hand
21 of the following 434% reg. local-impt.
relative to the offering on Oct.
bonds:
„
*
-
Due.
June 1 1936
Dec. 1 1927
Dec. 1 1943
434% coupon bonds, aggre¬
gating $667,700 (V.97, p.'832), were awarded, to Stacy & Braun
for $671,593.48(100,583) and accrued int.
Other bids were:" ■
Premium. I
of Toledo
■
.
Premium.
Ole__$2,076 80 Third-Fifth Nat. Bk., Cin
$28
Estabrook & Co. and Blod| Weil, Roth & Co., Cincinnati—par
get & Co., Boston
1,468 941
TOLEDO SCHOOL DISTRICT (P. O. Toledo), Tama County, Iowa.
—BONDS VOTED.—The question of issuing $75,000 bldg. bonds carried,,
it is stated, at the election recently held.
C. E. Denison & Co.,
TOPEKA,
advises
(V. 97,
us
p.
Shawnee County, Kan.—BOND SALE.—The City Clerk
the two issues of refunding bonds, aggregating $40,000
that
758) have been sold at popular
subscription.
TRAVERSE CITY, Grand Traverse County, Mich.—BOND OFFER¬
ING.—Proposals will be received until 12 m. Oct. 24 by T. H. Gillis, City
Clerk, for $50,000 school and $10,000 paving 20-year bonds at not exceeding
5% int.
Int. semi-annual.
Certified check for 5% of bonds bid for
required.
I
■
\
TRENTON, Mercer County, N. J.—BOND
SALE.-r-On Oct. 15 the
$73,757 434% 10-year registered street-impt. bonds (V. 97, p. 1064) were
awarded to Ferdinand W. Roebling of Trenton at 101.1 and int.
Other
bidders were:
Rhoades& Co.,
N.Y--f___100.3159IBlodget & Co., N.
Curtis & Sanger, N.
UMATILLA
Y---i-~100.08
100.3138[Estabrook & Co., N. Y
Y_
SCHOOL DISTRICT NO.
COUNTY
100.067
56,] Ore.—BOND
OFFERING.—Proposals will be received until 12 m. Oct. 25 by G. W.
Bradley, Co. Treas. (P. O. Pendleton), for $11,500 5% 10-20-yr. (opt.)
coup, tax-free bldg. bonds.
Denom. $1,000.
Date Nov. 1 1913.
M. & N. in N. Y. C.
Cert, check for $500, payable to Co. Treas.„ required.
Int.
UNION CITY, Branch County, Mich.—BONDS DEFEATED.—'The
question of issuing $30,000 sewer bonds was defeated at a recent election.
UNION TOWNSHIP SCHOOL
No.
DISTRICT (P. O. Elizabeth R. F.
1), Union County, N. J.—BOND
D.
SALE.—On Oct. 12 the $48,000
97, p. 971) were awarded to
5% coup, or reg. tax-free building bonds (V.
the First National Bank of Milburn at par. \
UPPER SANDUSKY,
Wyandot County, Ohio.—BOND ELECTION.
12, it is stated, to submit to a vote the*
—An election will be held Nov.
UPSHUR
COUNTY
(P.
lighting-plant bonds.
Gilmer), Tex.—BONDS VOTED.—This
of the question of issuing $40,000 road and
O.
will be received until 3 p. m.
104.013.
aggregating $500,000,
which, it was reported, would be sold "over'the counter" in denom. of $100.
He further states that although nearly a million dollars' worth of bonds are
in course of advertisement and preparation for sale "over the counter," the
STOKES TOWNSHIP SCHOOL DISTRICT, Madison County, Ohio.
—BOND SALE.—On Oct. 15 the $15,000 534% 724-year (aver.) coup.
Sub-District No. 8 bldg. bonds (V. 97, p. 907) were awarded, reports state,
to the Farmers' & Traders' Bank of South Solon for $15,602, equal to
SUMMIT COUNTY (P. O. Akron), Ohio.—BOND OFFERING.—Pro¬
posals will be received until 11 a. m. Nov. 1 by the County Commissioners,
C. L. Bower, Clerk, for $4,221 67 5% coupon Kenmore Boulevard (assess¬
ment) bonds.
Auth. Sees. 2294, 2295 and 6912, Gen. Code.
Denom. (4)
$1,000, (1) $221 67.
Date, "day of sale."
Int. A. & O. at office of
County Treasurer.
Due $1,000 yearly on Oct. 1 from 1914 to 1917, incl.,
and $221 67 on Oct. 1 1918.
Certified check on a bank other than the one
making the bid for 5% of bonds bid for, payable to County Treasurer,
required.
Bonds to be delivered and paid for within 10 days from time of
award.
Purchaser to pay accrued interest.
These bonds were offered
without success on Sept. 2 (V. 97, p. 683).
40
purchase bonds.
county recently voted in favor
50
j$750
yrs./$5,000
(per yr.
5% 40 yrs. 1 yr.
yrs. 10 yrs.
5%
40
5% 40 yrs. 20 yrs.
yrs. 20 yrs.
5%
TEXAS CITY, Galveston County, Tex.—BOND ELECTION PRO¬
POSED.—According to reports, an election will shortly be held to submit
to a vote the question of issuing $250,000 electric-light and power-plant-
(P. O. Colville), Wash.—BOND SALE— On Oct. 4 the $1,600
1-5-year (opt.) building bonds (V. 97, p. 907) were awarded to the State
of Washington at par for 5)4s.
Denom. $400.
NO.
registered
Due.
40
5%
...
8,000._Milam Co. C. S. D. No. 59--School-house
13,300--Charlotte C. S. D. No. 22„—
"
100,000-_Matagorda Co. Rd. D. No. 1 —
32,000-_City Henderson
Water-works
question of issuing $25,000 municipal
rejected.
CONSOLIDATED
134,000--Matagorda Co. Dr. D. No. 2
were
Option.
40 yrs. 15 yrs.
40 yrs. 20 yrs.
20 yrs. 5 yrs.
20 yrs. 5 yrs.
40 yrs. 20 yrs.
40 yrs. 5 yrs.
5% 40 yrs. 20 yrs.
534 40 yrs. er yr.
..Water-works
32,000--City Henderson
1915 to 1939 incl.
Cambria County,
30 days.
by the State Comptroller
Amount.
Place.
sop County, Ore.—BONDS DEFEATED.—The question of issuing $3,500
blag, bonds was defeated, it is stated, at the election held Sept. 29 by a vote
of 19 "for" to 22 "against."
were
insurance company
TEXAS.—BONDS
1914 to 1927, inclusive.
NO.
an
TARPON
bonds.
;>'■
1157
CHRONICLE
THE
1913.]
bridge bonds.
VALDOSTA, Lowndes County, Ga.—BOND
Nov. 5 by John T.
OFFERING.—Proposals
Roberts, Mayor, for the
water-mains 5% serial municipal impt. bonds
voted Sept. 15 (V. 97, p. 832).
Certified check for 1% required.
VAL VERDE COUNTY (P. O. Del Rio), Tex.—BONDS PROPOSED.—
The question of issuing $165,000 road bonds is under consideration in this
$35,000 paving and $15,000
county.
VANDERBURGH
COUNTY
(P.
O.
Evansville), Ind.—BOND OF¬
FERING.—Newspaper reports state that proposals will be received until
10 a. m. Nov. 15 by Carl Lauenstein, Co. Treas., for $18,200, $8,800 and
$8,400 4Yz% 10-yr. road-impt. bonds.
WALLER
COUNTY
(P.
O.
Hempstead), Tex.—BOND ELECTION
will be held in the near future
road bonds in Precincts Nos.
PROPOSED.—Reports state that an election
to submit to a vote the question of issuing
4 and 6.
'
/
WALLINGFORD, New Haven County, Conn.—BONDS A
unsold portion of $177,000 434%
IN PART.—Of the $85,000
(opt.) bonds (V. 97, p.316), $25,000 was
of Hartford at par.
Co.
WARDED
15-30-year
recently awarded to Rhoades &
'
1J58
THE
WALPOLE, Norfolk County, Mass.—BOND
CHRONICLE
SALE.—The
following
bonds, aggregating $68,200, have been disposed of by this
city at par:
$1,500 4M % highway bonds to the Home Sav. Bank.
Date Feb. 6 1913.
three issues of
Int- F- & AFeb- 6 1914.
65,000 4yi % school bonds to the State of Mass.
Date July 1 1913.
1,700 5%
»r^^,SrTrYJ^E (F-
BID
Int.
J. & J.
Due $5,000 yrly. July 1 from 1914 to 1926 incl.
water-ext. bonds to Robert H. Hartshorn.
Date Sept.
1913.
Int. M. & S.
Due $850 Sept. 6 1914 and 1915.
*r,rvrt
6
WARWOOD, Ohio County, W. Va.—BONDS
10
NOT SOLD.—We
sale had yet been made of the $4,000
no
coupon
$500.
WHITE PLAINS, Westchester
County, N. Y.—BOND OFFERING.—
Proposals will be received until 8
p. m. Oct. 23 by Geo. K. Cox, Vil. Clerk,
for $12,200 5%
reg. sewer bonds.
Denom. (11) $1,000 (1) $1,200. Date
Oct. 1 1913.
Int. A. & O. at office of Vil. Treas.
Due $6,200 on Oct. 1
1925 and $6,000 Oct. 1 1926.
Cert, check on an incorporated bank or
trust company for
2% of bonds bid for, payable to Vil.
are
5%
Treas,,required.
these bonds will be approved by Hawkins, Delafield &
Longfellow of N. Y. City, whose
opinion will be furnished successful bidder.
▼
xx.^?JTIJ£9A/a®kson
the
that
p. m. Oct. 30 for $13,200
Denom. $500.
Date Oct. 1 1913.
in
state that pro-
4)^ % school bds.
WELLSVILLE,
on
or
were
awarded to Fiel
eld,
interest.
before Nov.
We
Int. A. & O. at any bank
„
Other bidders
WEST
to
1922 incl.
549 Burns St. bond.
Due Mar. 1 1915.
285 Elm St. bond.
Due Mar. 1 1918.
m.
Nov.
$400 yrly.
1
on
lay
Pa.—BONDS AWARDED IN
$25,000 5% 5-year street-paving bonds
investors at prices ranging from
were awarded to local
Denom. $100 and $500.
us
BOND ELECTION.—
that the question of
issuing the $400,000 coupon
will not be submitted to a
vote as re¬
WILMINGTON,
Del.—BOND
SALE.—The
OFFER¬
971), but that sale
original advertisement.
p.
Wilson,
Mar. 1 from 1915
was
Wilmington Savings Fund Society (V. 97,
not
consummated
4EW
CITY
$400,000 Dwight and Water Streets, Railroad Underpass Loan, Act of 1913.
The bonds for this loan will be dated November
1, 1913, and be payable $14,000 thereof on the
first of November in each of the years 1914 to
1923, inclusive, and $13,000 thereof on the first of
November in each of the years 1924 to
.
-
.
Said bonds will bear interest at the rate of four
per cent (4%) per annum, payable semi-annually
the first days of May and November of each
year.
This loan will be issued in
coupon bonds of One thousand dollars ($1,000) each, with interest
warrants attached, both
principal and interest being made payable at the First
Boston, Massachusetts.
'■
,
National
-
Westfield
Little
WESTM0UNT,
•
by the City of Westmount preferred.
Sealed offers, marked
"Sinking Fund
missioners of Westmount", will be received
Com¬
at the
offices of the Montreal Trust
Company until noon
on MONDAY, THE
27TH OF OCTOBER, 1913.
A full
description of bonds offered for sale is
essential.
Delivery of the bonds to the Com¬
missioners must be made on 1st of
November,
1913.
■
ARTHUR F. BELL,
S ecr etary-Tr easur er.
Bank,
River
Water
Loan,
Act
of
1913.
this loan will be dated November
1, 1913, and be payable $10,000 thereof on
the first of November in each of the years 1914 to
1938, inclusive.
Said bonds will bear interest at the rate.of four and
one-quarter per cent (4\i%) per annum,
payable semi-annually on the first days of May and November of each
year.
This loan will be issued in either
coupon bonds of One thousand dollars ($1,000) each, with
interest warrants attached, both
principal and interest being made payable at the First National
Bank, Boston, Massachusetts; or in registered bonds of One thousand
dollars ($1,000) each or any
multiple thereof, the principal and interest being made payable at the
City Treasurer's office.
Holders of coupon bonds of this loan may at
any time more .than one
same
OF
LOANS.
The Sinking Fund Commissioners of
the City
of Westmount desire to
purchase approximately
$30,000 of Municipal Debentures—those issued
$12,000 Hopkins, Missouri
The bonds for
change
in the
error
■
,
$250,000
an
SINKING FUND COMMISSION
City Treasurer's Office, October 11,1913.
*
of
Canada
In pursuance of orders of the City
Council, approved, by the Mayor, the undersigned. Treasurer
of the City of Springfield, will
receive until TWELVE O CLOCK M. WEDNESDAY, OCTOBER
29,
1913, sealed proposals for the following-described bonds:
.
because
'
•
until
4% and 4*4% Coupon and Registered Gold Serial Bonds
■
on
was one of
This issue was
spring.
SPRINGFIELD, MASS.
1943, inclusive.
received
day
Harrison County, Iowa.—BONDS TO BE SOLD IN
SPRING.—The City Clerk advises us
under date of Oct. 10 that the $6,000
6% 1-6-year (Ser.) water-system bonds (V. 97,
p. 759) wiU not be sold
$1,015,000
on
bid
WOODBINE,
next
*
highest
Oct. 16 for $100,OO0
4building bonds offered on that
100.201, submitted by Harris, Forbes & Co. of New
York.
awarded on Sept. 25 to the
NEW LOANS.
CITY OF
NOT SOLD.—
sale had been made of an issue of
grade-crossing-elimination bonds
ported in V- 96, p. 1858.
5,005
by H. J.
no
WILKINSBURG, Allegheny County. Pa.—NO
of Cincinnati at 101.29 and
CARROLLTON, Montgomery County, Ohio.—BOND
tnat
The Boro. Clerk advises
were:
ING.—Proposals will be received until 12
Vil. Clerk, for the
following 4Yi% bonds:
$3,200 sewer bonds.
Denom. $400.
Due
investors. Denom. $500.
County,
j—On Oct. 9 $24,700 of the
on
15 1913.
5,037 50 Otis & Co., Cleveland
5,025 00
^£,LK5S-!ABEE' Luzerne
&
Seasongood & Mayer, Cin_$5,054 00 Spitzer, Rorick & Co.,
Toledoj$5,016
Hoehler & Cummings, Tol_
A. E. Aub & Co., Cincin--
advised that up to Oct. 13
100.50 to 100.85.
County, Ohio.— BOND SALE.—On
fire-station-equipment bonds (V. 97, p. 908)
Longstreth & Richards
^1V1& J^°S6<* °f t0 lo
$10,000 bonds.
Columbiana
Oct. 14 the $5,000 5% 10-year
I
WICKENBURG, Maricopa County, Ariz.—BONDS
are
OFFERING.—Pro-
Waynesboro.
Certified check for 2% of bonds bid for,
payable to T. S.
Cunningham, Borough Treasurer, required.
Bonds to be delivered upon
demand to the purchaser
1 1913
WHITMAN COUNTY SCHOOL
DISTRICT NO. 81, Wash.—BOND
SALE.—An issue of $1,500 53^ %
1-5-yr. (opt.) building bonds was awarded
to the State of
Washington on May 9 at par.
Denom. $300.
Date July 1
1913.
Int. annual on July 1.
?osals Council,received until 4>£% m. Oct. 23 (opt.) coupon tax-free street8 p. 5-30-year by A. Stover Fitz, Secy, of
'own will be
for $70,000
impt. bonds.
County, Kans.—BOND SALE.—We are advised
4-19-year (opt.) electric-light-system bonds recently
$8,000 5%
Da^Nov
WATERLOO, Seneca County, N. Y.—BONDS NOT TO BE OFFERED
AT PRESENT.—The
Village Clerk advises us that the $25,000 sewer bonds
recently voted will not be offered at present.
WAYNESBORO, Franklin County, Pa.—BOND
Tex.—BOND SALE.—On Oct. 11
5% 10-30-yr. (opt.) electric-light bonds offered on
Sept. 30
awarded to the First Nat. Bank
of Whitesboro at par and int.
Denom.
Date July 20 1913.
Int. J. & J. at the Nat. Park
Bank, N. Y.
$5,000
were
12 m. Nov. 8 by Walter
McKeen, Township Clerk, for $10,000 5% roadimpt. bonds.
Denom. $1,000.
Date Sept. 15 1913.
Int. M. & S.
Due
serially from 4 to 13 years, incl.
Certified check for 5% of bonds bid for,
payable to Township Trustees, required.
Bonds to be delivered and paid
for within 5 days from time of award.
pbsals will be received until 3:30
received on Oct. 15 for the $4,000
4^ %
that day (V. 97, p.
1064) was rejected.
on
WHITESBORO, Grayson County,
the
street-paving bonds offered on Sept. 30 (Y. 97, p. 833.)
WASHINGTON TOWNSHIP (P. O.
Armstrong Mills), Belmont
County, Ohio.—BOND OFFERING .—Proposals will be received until
H&WATERTOWN, Mass.—BOND OFFERING.—Reports
New Haven), New Haven County, Conn.—
REJECTED.—The only bid
school bonds offered
WARREN COUNTY (P. O.
Vicksburg), Miss.—BONDS PROPOSED.
—The Board of
Supervisors has given notice of its intention to issue the
$300,000 5% road and bridge-constr. bonds
(V. 97, p. 759).
advised that up to Oct.
xcvii.
Date Nov. 1 1913.
Int. M. & S.
Cert, check for 5% of bonds bid
for,
Payable to Vil. Treas., required.
Bonds to be delivered and paid for within
10 days from time of
award.
,
,
[Vol.
year
for registered bonds.
before maturity ex¬
Water Works
City
Council
will
Bonds
receive
proposals
unt
OCTOBER 20TH, 7 P. M., for,the sale of $12,000
Hopkins, Missouri', Water-Works Bonds in. the
denomination
lars, address
of
$1,000.
Mayor
C.
For
E.
further
Donlin.
particu¬
Certified
check will accompany
proposals.
•
$50,000 Sewer Loan,
1913.
"
The bonds for this loan will be dated November
1, 1913, and be payable $2,000 thereof on the
first of November in each of the years 1914 to
1938, inclusive.
Said bonds will bear interesl at the rate of four
pel* cent
MUNICIPAL
AND
RAILROAD
•
.
on
(4%)
the first days of May and November of each
year.
This loan will be issued in registered bonds of One thousand
dollars
thereof,
($1,000) each
the principal and interest being made payable at the
City Treasurer's
$220,000 Buckingham School Loan,
bonds for this loan will be dated November
1, 1913, and be
of November in each of the years 1914 to
1933, inclusive.
Said bonds will bear interest at the rate of four and
BONDS
payable semi-annually
per annum,
or any
LIST
multipla
ON
APPLICATION
;
Office.
SEASONGOOD &
1913;
payable $11,000 thereof
on
Ingalls
the first
MAYER
Building
•>
CINCINNATI
one-quarter per cent (4)4 %) per annum,
on the first days of May and November of each
year.
This loan will be issued in registered bonds of One
thousand dollars ($1,000) each or
any multiple
thereof, the principal and interest being made payable at the
City Treasurer's Office.
payable semi-annually
$39,500 School Loan, 1913.
F.
Bonds for this loan will be dated November
1, 1913, and be payable $2,000 thereof on thes firt
inclusive, and $1,500 thereof on the first of November,
WM.
KRAFT
of November in each of the years 1914 to
1932,
1933'/'
»'
.r
Said bopds will bear interest at 1 he rate of four and
one-quarter per cent (4)4%)
on the first days of May and November of
each year.
This loan will be issued in registered bonds of Five
hundred dollars
payable semi-annually
thereof, the principal and interest being made payable
LAWYER.
•
($500) each
at the City
Specializing in Examination
per annum,
or any
multiple
Treasurer's Office.
Municipal and Corporation
Bonds
1037-9 FIRST NATIONAL BANK
BLDG..
$55,500 Municipal Loan, 1913.
Bonds for this loan will be dated November
1, 1913, and be payable $6,500 thereof on the first
November, 1914: $6,000 thereof on the first of November in each of
the years 1915 to 1918, inclusivei
and $5,000 thereof on the first of November in each of
the years 1919 to
1923, inclusive.
Said bonds will bear interest at the rate of four
and one-quarter
per cent (4}4%) per annum,
payable semi-annually on the first days of May and November of each
year.
This loan will be issued in registered bonds of
Five hundred dollars ($500) each or
CHICAGO, ILL.
of
thereof, the principal and interest being made payable at the
City Treasurer's Office.
of
any
multiple
Both
the principal and interest on all of the
above loans will be
payable in Gold Coin of the
United States of America of the
present standard of weight and fineness or its
equivalent.
The City Treasurer now transmits
by mail interest on all registered bonds.
These bonds are exempt from taxation in
Massachusetts.
The legality of all the bond issues will be
approved by Messrs. Storey, Thorndike, Palmer &
Dodge, of Boston, and the coupon bonds will be certified as to
their genuineness by the Old Colony
Trust Co. of Boston.
Proposals must include accrued interest to date of
delivery of bonds, and must be accompanied
by a certified check for one per cent (1%) of the amount of loan
bid for, made payable to the City
of Springfield.
All proposals will be opened in the
Mayor's Office, Wednesday, October
29, 1913, at twelve
o'clock M.
The right is reserved to
reject any or all bids.
Address proposals to the undersigned,
indorsed, "Proposals for Municipal Loans, 1913."
•-
'
ELIPIIALET T. TIFFT, City Treasurer,
"
Springfield, Mass.
PARK, POTTER & CO.
CERTIFIED PUBLIC ACCOUNTANTS.
New
York, Chicago, Cincinnati and
London, England
Watertown, N. Y., C. E. Scoville.
AUDITORS FOR FINANCIAL,
INDUSTRIAL
AND MINING
CORPORATIONS.
"
Descriptive circular
on
request.
Investigations, Financial Sta
Periodical Au
m
nts,
ts and
Accounting;
OCT. 18
(4) $250, (8) $500 and (1) $519 36.
Date Sept. 1 1913.
the Twp. Treas. office. Due part yearly on Nov. 1. Bids
unconditional. Cert, check for $200, payable to the Town Treas
required.
Purchaser to pay accrued interest.
Bonds to be delivered and
paid for at office of the Home Sav. & Loan Co., Wellsville on Nov 15
These bonds were reported sold on Sept. 20 to Seasongood & Maver of
Cincinnati. (V. 97, p. 909.)
COUNTY (P. O.
of 5% coup,
WOOD
The two issues
Int. M. & S. at
at
must be
Bowling Green), Ohio.—BOND SALE.—
road-impt. bonds, aggregating $100,000, of¬
June 2 (V. 96, p. 1650) were
YUMA
sold during September
WOOSTER, Wayne County, Ohio.—BOND OFFERING.—Proposals
received until 12 m. Nov. 15 by J. B. Minier, City Aud., for the
coupon bonds:
$3,200 Pittsburg Ave.-paving bonds.
Date Sept. 1 1913. Due part
will be
yearly beginning Sept. 1 1914.
_
9,000 West Liberty St.-paving bonds. oDate
f yearly on Sept. 1 from 1914 to 1923 incl.
9,500' Nold Ave.-paving bonds.
Date Sept.
4 on Sept. 1 from 1914 to 1923 incl.
2,000 Derr Ave. paving bonds.
Date Sept.
-<£on Sept. 1 from 1914 to 1923 incl.
Due $950 yearly
1913,
at
1 1913.
ALBERTA (Province
by Lloyd's Bank, Ltd., London, at 95.
The loan is for redeeming
standing treasury bills and meeting authorized expenditure connected
the extension of the public telephone system and other public works.
Sept. 1 from 1914 to 1923 incl.
'
Due $361 30
Grant St.-paving bonds.
Date July 1 1913.
yearly on March 1 from 1914 to 1923 incl. Date
July 1 1913.
Due
15 000 Industrial sewer District No. 4 bonds.
on
July 1 1914.
bonds. Date July 1 1913.
1 from 1914 to 1918 incl.
1.250 So. Grant St.-sewer bonds.
Date Sept.
Ion Sept. 1 from 1914 to 1918 incl.
if*
Nov.
Due $250 yearly
Alta.—DEBENTURE SALE.—An issue of $20,000 6%
awarded to C. H. Burgess & Co. of Toronto.
Secretary-Treas¬
10-yr. debentures
at private sale.
BELLEVILLE, Ont.—DEBENTURE SALE.—Wood, Gundy & Co. of
Toronto, it is stated, have been awarded $50,000 5% 30-year debentures.
BASSANO,
BATTLEFORD, Sask.—DEBENTURE SALE.—The
urer advises us under date of Oct. 9 that the $40,000 534 %
offered on Sept. 19 (V. 97, p. 683) have been disposed of
»
DEBENTURES.—The $324,-
BRANDON, Man .—DESCRIPTION OF
Ohio.—NO ACTION YET
towards
County,
payable May 1 and
months' int. payable
1914.
30-year debentures has been
,
Franklin
1.
May 1
Water-works-impt. bonds.
Date Sept. 1 1913. Due July 11916.
600 Fire-equip, bonds.
Date July 1 1913.
Due July 1 1916.
All bonds except last two issues are assessment bonds.
Int. semi-ann. at
office of Sinking Fund Trustees.
Cert, check for 5% of bonds bid for,
payable to City Treas.. required.
The amounts of the special assess, bonds
may be reduced by the amount of cash payments received from property
WORTHINGTON,
par in London Nov. 1
1943.
Int.
Transferable free of stamp duty.
Full 6
Redeemable at
Due $261 yearly
2,000
owners.
with
The
stock is exempt from all municipal taxation in the Province of Alberta, and
all Provincial taxes, succession auties>nd other charges in the said Province.
^ on March
1 1913.
of).-—NEW LOAN.—Subscriptions were received
offered until Oct. 9
out¬
of the £1,000,000 434% registered stock
for only 12%
Due $800 yrly.
3,613 No.
4 part yearly beginning
1,305 East Larwill St.-sewer
par.
Canada, its Provinces and Municipalities.
Due $450 yearly
1 1913.
4,500 College Ave.-paving bonds.
Date Sept.
on Sept. 1 from 1914 to 1923 incl.
8.000 So. Walnut St.-paving bonds.
Date Sept.
v*
$9,734, were
Due $200 yearly
1
1
offered without success on
to
1913.
Muskingum County, Ohio.—BONDS\ AWARDED
the five issues of street-impt. bonds, aggregating $10,320,
April 1 (V. 96, p. 1249) four issues, amounting
awarded on Aug. 10 to the First Nat. Bank of Zanesville
ZANESVILLE,
IN PART.—Of
Due $900
Sept. 1 1913.
UNION HIGH SCHOOL DISTRICT, Ariz.—
that the Supervisors have decided to award
$60,000 5% gold site-purchase and building bonds offered without suc¬
cess on July 12 (V. 97, p. 471) to E. H.
Rollins & Sons of Denver at par
less $3,100 for attorney s fees and expenses.
<
the
following 5H%
»■
COUNTY
BOND SALE.—Reports state
and int.
par
Denom.
Code.
WOODBURY COUNTY (P. O. Sioux City), Iowa.—PRICE PAID
BONDS.—The price paid for the $80,000 6% 3-yr. (av.) tax-free Drain¬
age District No. 2 bonds awarded on Oct. 6 to Farson, Son & Co. of Chi¬
cago (V. 97, p. 1064) was 101.075.
Denom. $1,000. Date Nov. 1 1913.
Int. M. & N.
Due $16,000 yrly. Nov. 1 from 1914 to 1918 incl.
FOR
fered without success on
1159
CHRONICLE
THE
1913.]
municipal impt. debentures recently awarded to the Harris Trust
Chicago (V. 97, p. 1064) are described as follows:
Amount.
Int. Months.
Due.
Amount.
Int. Months.
Due.
$12,000 June30&Dec.31 Dec.31 1922 $141,000 May l&Nov. 1 May 11933
33,000 Apr. l&Oct. 1 Oct. 1 1923
80,000 Apr. l&Oct. 1 Oct. 11933
17,000 June30&Dec.31 Dec.31 1932
41,000 May l&Nov. 1 May 11943
Int. and principal payable at Brandon, Toronto and Montreal.
000 5%
TAKEN.—We are advised that no action has been taken looking
the offering of the $6,000 534 % paving bonds voted June 17 (V. 96,
p.1790).
WYANDOTTE SCHOOL DISTRICT (P. O. Wyandotte), Wayne
County,
Mich.—BOND ELECTION PROPOSED.—Local
newspaper
reports state that the Board of Education is contemplating calling an elec¬
tion to vote'on the question of issuing McKinley school-impt. bonds.
YELLOW
CREEK TOWNSHIP, Columbiana County, Ohio.—
BOND OFFERING.—Proposals will be received until 1 p. m. Nov. 8 by
J. W. Dennis, Clerk Bd. of Trustees, care of the Home Sav. & Loan Co.,
Wellsville, for $5,519 36 5H% road-impt. bonds.
Auth. Sec. 3939 Gen.
& Sav. Bank or
BRANTFORD, Ont .—DEBENTURE ELECTION.—The City Council
has decided, it is stated, to submit a by-law to the ratepayers early in 1914
providing for the issuance of from $45,000 to $60,000 school debentures.
MISCELLANEOUS.
NEW
LOAMS.
OFFICE OF THE
$175,000
City of K«
ATLANTIC MUTUAL INSURANCE COMPANY.
spell, Montana
New
WATER BONDS
given that the City of Kalispell,
Montana, will, on the 17TH DAY OF NOVEM¬
BER, 1913, at twelve o'clock noon, sell at public
auction at the Council Chambers in the City Hall
of said City of Kalispell, to the bidder offering
the highest price for them, $175,000 of gold bonds,
said bonds to be known and designated as "Water
derived from the sale of said
exclusively for the purpose of
Bonds", the monej
water system for
said city
applied
upon the indebtedness Incurred therefor.
Said bonds will be of the denomination of One
Thousand Dollars each, dated July 1st, 1913, and
shall be redeemable and payable as follows, to-wit:
Twenty-five Thousand Dollars ($25,000)
of
said bonds, numbered from one to 25, both in¬
clusive, shall be redeemable on and after the first
day of July, 1920, and shall be paid on July 1st,
procuring a water supply and
said city, to be owned and controlled by
and the revenues derived therefrom to be
1923
"
Forty Thousand Dollars ($40,000) of said bonds
numbered from 26 to 65, both inclusive, shall be
redeemable on and after the first day of,July,
1923, and shaU be paid on July
One Hundred Ten Thousand
of said bonds, numbered 66
1st, 1926.
■
Dollars ($110,000)
to 175, both in¬
^
_
clusive, shall be redeemable on and after the first
day of July, 1928, and shall be paid on the first
day of July, 1933: all of said bonds to bear interest
at the rate of five per centum per annum, interest
semi-annually, on January 1 and July 1
of the City Treasurer
at the option of the
at some bank to be designated by the City
payable
of each year, at the office
of Kalispell, Montana;, or,
holder,
Treasurer, in New
York City.
.
^
parties desiring to bid will be required to
deposit with the City Clerk of said city, before
the time set for the sale of said bonds, an un¬
conditional certified check in the amount of Five
Thousand Dollars ($5,000), payable to the order
of Robert Pauline as Mayor, as a guaranty of
All
good faith, and no bids will be received at less than
par and accrued interest from the date of bonds
until the same are taken and paid for.
The city
reserves the right to reject any or all bids.
By order of the City Council.
[Seal.]
C. J. MCALLISTER,
City Clerk/
Dated Oct. 8th, 1913.
31« of December,
The
Notice is hereby
bonds to be used
conformity with the Charter of Vie Company,
The Trustees, in
1912..
Interest on the Investments of
Interest on Deposits in Banks
Rent received less Taxes
the Company received during the
$4,822,884 99
1912.....
$4,055,834 05
year....$302,088 79
and Trust Companies, etc
and Expenses.......—....
during the year
42,787 34
...
475,863 41
130,987 28
............
' *
$2,104,257 48
.....
$197,204 74
544,016 02
A
195.79
Less Salvages
Re-insurances
Discount...
■
'
i
rnfrjtoiih
741,416 55
■
t
i.
i
i
$1,362,840 93
Returns of Premiums
Expenses, including officers'
—
....
salaries and clerks' compensation, stationery,
advertise¬
......
....
ments, etc
......
-—.....
....
$91,649 89
563,285 21
of Six per cent on the outstanding certificates of profits will be paid to the holders
thereof, or their legal representatives, on and after Tuesday the fourth of February next.
The outstanding certificates of the issue of 1907 will be redeemed and paid to the holders thereof, or thek
A dividend of Interest
thereon
legal representatives, on and after Tuesday the fourth of February next, from which date all Interest
cease.
The certificates to be produced at the time of payment and canceled.
A dividend ef Forty per cent is declared on the earned premiums of the Company for the year ending 31st
December, 1912, which are entitled to participate in dividend, for which, upon application, certificates will be
issued on and after Tuesday the sixth of May next.
By order of the Board,
G. STANTON FLOYD-JONES, Secretary.
will
'
TRUSTEES.
CHARLES M. PRATT;
DALLAS B. PRATT,
GEORGE W. QUINTARD;
ANTON A. RAVEN.
JOHN J. RIKER,
DOUGLAS ROBINSON;
HERBERT L. GRIGGS.
ANSON W. HARD,
THOMAS H. HUBBARD)
LEWIS CASS LED YARD;
CHARLES D. LEVERICH;
GEORGE H. MACY,
NICHOLAS F. PALMER;
HENRY PARISH,
JOHN N. BEACH,
ERNEST C. BLISS,
VERNON H. BROWN;
WALDRON P. BROWN;
JOHN CLAFLIN
GEORGE C. CLARK;
CLEVELAND H. DODGE)
CORNELIUS ELDERT,
RICHARD H. EWART;
PHILIP A. 8. FRANKLIN)
WILLIAM J.
SCHIEFFELIN.
WILLIAM SLOANE,
LOUIS STERN,
W2LLIAM A. STREET;
PAVENSTEDT;
JAMES H. POST,
ADOLF
.
GEORGE E. TURNURE*
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONS, 2d Vice-President.
CHARLES E. FAY, 3d Vice-President.
JOHN H. JONES STEWART. 4th Vice-President.
BALANCE SHEET.
LIABILITIES.
ASSETS.
United States and State of New
York
$670,000 00
Bonds
1,777,900 00
2,716,537 00
in Banks and Trust
Companies
Real Estate cor. Wall and William Streets
and Exchange Place, containing offices
Staten Island (held under
provisions of Chapter 481,Laws of 1887)
Premium Notes
Receivable ...........—.......
in hands of European Bankers to
pay losses under policies payable In
foreign countries
—
...
Bills
282,520 00
00
900,000
4,299,426 04
75,000 00
692,766 69
615,303 16
Estimated Losses and Losses
in process of Adjustment-
Unsettled
Premiums on Unterminated Risks
Certificates of Profits and Interest
paid
Return Premiums
--
Unpaid
Un¬
$2,174,058 00
767,050 94
262.924 05
.......
104,322 76
110,025 19
203,735 55
.........
Reserve for Taxes---.-.—...........
Re-insurance Premiums
Claims not Settled,
sation, etc
—
including Compen¬
82,698 09
Certificates of Profits Ordered Redeemed;
Withheld for Unpaid Premiums..—..
Certificates of Profits Outstanding......
22,556 09
7.293.220 00
f ash
60 STATE STREET, BOSTON
30 PINE STREET, NEW
the
........
1st, 1912, to December 31st,
Premiums marked off from January
Real Estate ®n
BONDS
1913.
66
753,427 33
................
....
Total Premiums
gther Securities
pecial Deposits
BLODGET & CO.
22d.
and inland transportation insurance.
the 1st January, 1912, to the 31st December, 1912................$4,069,457
New York City and New York Trust
Companies and Bank Stocks...
Stocks and Bonds Of Railroads....,.—
»
January
1912.
Company's business has been confined to marine
Premiums on such risks from
Premiums on Policies not marked off 1st January,
Losses paid
York;
submit the folloiotng statement of its affairs on
YORK
Cash in Bank
STATE, CITY & RAILROAD BONDS
Temporary
ary
Investments (payable Janu-
1913).—————————
298,641 20
994,882 29
400,875 00
$13,623,851 38
sr.:
1
$11,020,590 67
=====
...................................-.$2,603,260 71
$40,804 99
26,696 99
Bolger, Mosser&Willaman
...............
257,330 00
MUNICIPAL BONDS
1912, amounted to
——
47,650 39
Note: The Insurance Department has estimated the value of the Real Estate corner Wall and
Legal for Savings Banks. *
William Streets and Exchange Place in ezcess of the Book Value given above, at........
450,573 96
And the property at Staten Island in excess of the Book Value, at..
—....
63,700 0G
Postal Savings and Trust Funds.
the Market Value of Stocks, Bonds and other Securities on the 31st day of December, 1912, ex¬
ceeded the Company's valuation by
1,695,027 24
SEND FOR LIST.
"
the basis of these Increased valuations the balance would be
.$5,185,044 28
29 South La Salle St.,
CHICAGO
Thus leaving a
balance of
...
1912, amounted to............
1912, amounted to
York,
the 31st day of December,
Accrued Interest on Bonds on the 31st day of December,
Rents due and accrued on the 31st day of December,
Re-insurance due or accrued, In companies authorized In New
on
1912, amounted to..
.........
...—........
Unexpired re-Insurance premiums on the 31st day of December,
.
1160
THE
CHRONICLE
BURNABY, B. C.—LOAN PROPOSED.—This municipality, it is re¬
ported, will issue £250,000 6% 10-year debentimes at 98.
CLIFFORD, Ont.—DEBENTURES NOT SOLD.—No sale was made
on Sept. 27 of the $19,000 debentures offered on that
day.
CHOWIN,
ceived until
year
REGINA, Sask.—DEBENTURES AUTHORIZED.—The City Council,
by-law providing for the issuance of $119,427
sidewalk debentures.
RICHMOND, Que.—NO
Alta.—DEBENTURE OFFERING .—Proposals will be re¬
30 by R. A. Cowan, Sec.-Treas., for $1,800 5%
30-
(V. 97.
Cummings Bridge), Ont.—DEBENTURE SALE.
EDMONTON,
Alberta.—LOAN.—Subscriptions were
asked
until
£900,700 5% coupon
Only half of this issues was applied for, according to cable
despatches.
Principal and interest at office of Kleinwort, Sons & Co.,
London, or, at option of holder, in currency at par of exchange at the Im¬
perial Bank of Canada, Toronto, or Montreal.
Denom. £100.
Int. Feb.
and Aug. 1.
Redeemable at par as to £92,700 in 1923, £487,500 in 1933
and £320,500 in 1953.
Issue is to provide funds for repayment of tem¬
porary loans, street paving, sewers, water-works and other public works.
SCOTT,
Oct. 2 by Kleinwort, Sons & Co., London, Eng., for
power
20-yr. local-impt. debentures.
$6,000
Clerk
MANITOU
LAKE
(Rural Municipality No. 442, P. O. Marsden),
SALE— The
$5,000
5K%
20-yr.
road-constr.
TOWNSHIP,
Ont.—DEBENTURE
Toronto.
-
were
asked until
VANGUARD, Sask.—DEBENTURES PROPOSED.—Reports state that
are to be considered by this municipality.
WEST TILBURY TOWNSHIP, Ont .—DEBENTURE SALE.—C.
H.
$10,000 school-building bonds
Burgess & Co. of Toronto have been awarded $5,165 6% 10-year debentures.
WEST VANCOUVER SCHOOL DISTRICT
(P. O. Hollyburn), B. C,
—DEBENTURE OFFERING.—Proposals will be received until 12 m. Oct.
SALE.—
$10,000 6% 20-year debentures have been awarded to C. H. Burgess &Co.
of
(P. O. Marva), for $582 77 5% 10-year bonds.
£1)
by deed, free of stamp duty, at Brown, Shipley & Co. where interest (F.&A.)
and principal (due Feb. 1 1953) is payable.
on
GRIMSBY
semi-annual.
VANCOUVER, B. C.—NEW LOAN.—Subscriptions
June 28 (V. 96, p. 1791) were awarded on Sept. 19
to W. L. McKinnon & Co. at 87.
Denom. $1,000.
Date Sept. 19 1913.
Int. annual in Sept.
NORTH
Int.
Oct. 7 by Brown, Shipley & Co. of London for
£461,200 4H % consolidated
stock at 95.
It is reported that 86% of the loan was left with the under¬
writers.
The object of the issue is to provide funds for
bridges', hospitals,
roads, &c.
Stock will be registered and transferable (in multiples of
SALE.—Wood, Gundy & Co. of
Toronto have purchased $338,500 debentures.
This completes the sale of
$764,500 4%, 4M % and 4H % debentures, the award of $200,000 of which
was previously reported in these columns.
Sask.—DEBENTURE
;
,
UNION SCHOOL SECTION
8, Township of Greenwich, Ont.—
DEBENTURE OFFERING.—Proposals will be received
by Thos. H. Cuddy ,
Nov. 3 for hydro-power purposes.
Ont.—DEBENTURE
debentures offered
re¬
Treas.
Ont.—LOAN VOTED.—'The election held Oct. 11 re¬
by-law providing for a loan of
bonus to the Perfect-Knit Mills, Ltd. (V. 97, p. 972.)
as a
be
i
$1,000.
vote of 328 to 38 in favor of the
LONDON,
will
SUTHERLAND, Sa.sk.—DEBENTURE OFFERING.—This town is
offering for sale $200,000 municipal debentures.
Sidney Appleby is Secy-.
Nov. 3 the tax¬
proposition to issue $10,000 hydro-
LISTOWELL,
a
OFFERING.—Proposals
STELLARTON, N. S.—DEBENTURE OFFERING.—Proposals will be
debentures.
sulted in
Sask.—DEBENTURE
received by J. W. Henderson, Clerk, for $15,000 school and
$10,000 water¬
works 5% 30-year debentures.
Denom.
FERGUS, Ont—DEBENTURE ELECTION.—Debentures amounting
to $16,000 will be voted upon
30.
ceived by James N. Forrest,
Secy.-Treas., for $20,000 oH-% 30-yr. water¬
works, $14,000 530-yr. water-works and electric-light and $6,040
6%
ELECTION.—On
a
are erroneous.
SAULT STE. MARIE, Ont.—DEBENTURES PROPOSED.—Roman
Catholic sch. deb. aggregating $30,000 are
being considered by this place.
bonds at 96.
payers will have submitted to them
972)
at an election to be held Oct.
Dom. Sec. Corp., Ltd., Tor_$ll,150|R. C. Matthews & Co., Tor_$10,915
Ont.—DEBENTURE
p.
ST.
CATHERINE'S, Ont.—DEBENTURE ELECTION.—A by-law
providing for $116,000 hydro-electric-power debentures will be voted upon
—On Oct. 15 the $12,886 5% 20-year local-impt. debentures (V. 97, p. 972)
were awarded to W. A. MacKenzie & Co. of Toronto for $11,260 (87.381)
and int.
Other bids were:
ELORA,
DEBENTURE ELECTION.—The municipal
Clerk advises us that the
reports stating that an election would be held
Oct. 13 to vote on the
question of issuing $15,000 sidewalk debentures
"
EASTVIEW (P. O.
xcvii.
it is stated, has purchased a
Oct.
debentures.
[Vol.
25 by G. H. Peake,
Int. semi-annual.
•
OUTLOOK, Sask.—DEBENTURE ELECTION.—To-day (Oct. .18) a
proposition to issue $3,500 water-works-system, $10,500 electric-light,
$1,400 sidewalks and $10,000 curling and skating-rink-site debentures will
C. M. O., for $13,200 5% 40-yr. school debentures.
WINDSOR, Ont .—DEBENTURE SALE.—This city recently awarded
10-installment 5% debentures to
be submitted to the voters.
$34,441 20-installment and $116,000
Wood, Gundy & Co, of Toronto.
PETROLEA, Ont .—DEBENTURES PROPOSED.—This place, it is
stated, is considering the issuance of $30,000 debentures as a bonus to the
Petrolea Wagon Co., Ltd.
proposition to issue the $13,500,000 water bonds authorized at the election
held Oct. 1 (V. 97, p. 1065) was 2,951 to 90.
-
WINNIPEG, Man.—VOTE.—We
advised that the vote cast
are
,
TRUST COMPANIES.
CHARTERED
ENGINEERS
1853.
United States Trust Company of New York
;
45-47 WALL STREET
Capital,
-
■
§2,000,000 00
-
-
§14,025,643,12
Company acts as Executor, Administrator, Guardian, Trustee, Court
Depositary and in other recognized trust capacities,
It allows interest at current rates on deposits.
^
It holds, manages and invests money, securities and other
property, real or
personal, for estates, corporations and individuals.
W.
Exchange Place,
Chicago
NEW YORK
•
San Francisco.
London.
Manila, Para, Buenos Aires, Santiago, Chili.
President.
WILFRED J. WORCESTER, Secretary
CHARLES A. EDWARDS, 2d Asst. Secy.
TRUSTEES
'
STEWART, Chairman of
WILLIAM ROCKEFELLER
ALEXANDER E. ORR
WILLIAM H. MACY JR.
WILLIAM D. SLOANE
FRANK LYMAN
JAMES STILLMAN
JOHN CLAFLIN
Alfred E. Forstall
Charles D. Roblson
,
the Board
LEWIS CASS LEDYARD
LYMAN J. GAGE
GEORGE L. RIVES
ARTHUR CURTISS JAMES
WILLIAM M. KINGSLEY
FORSTALL
AND
ROBISON
WILLIAM STEWART TOD
PAYNE WHITNEY
•
EDWARD W. SHELDON
ENGINEERS
OGDEN MILLS
.
EDGERTON L. WINTHROP
CHAUNCEY KEEP
,
43
SHELDON,
WILLIAM M. KINGSLEY, Vice-President
WILLIAMSON PELL, Asst. Secretary
JOHN A.
MANAGERS
-
FINANCIERS
This
EDWARD
THE J. G. WHITE COMPANIES
ENGINEERS
,
Surplus and Undivided Profits
-
the
on
,
Investigations
and
Appraisals
of
Gas
Properties for Owners
or
Financial
CORNELIUS N. BLISS JR.
HENRY W. de FOREST
Electric
ROBERT I. GAMMELL
and
Institutions.
'
.
JOHN J. PHELPS
84 William
•The Union Trust Company of New York offers a
special service
to individual trustees who desire to have the clerical and routine
administration of their
trusts carried
expert organization.
'
on
at
low expense
a
by
an
•'
St.,
NEW
YORK
CITY.
C. G. YOUNG
Engineering and Construction
Plans, Methods, Examinations
Public Utilities and Industrials
The Union Trust
Company will care for the trust property, assist
in making investments and in
selling securities, collect the income
and pay it over as directed, and will render accounts in the form in
which a trustee is required by the Court to state his accounts.
A
trustee will avoid expense and trouble
by having his accounts kept
in proper form.
^
;
REPORTS FOR FINANCING
Bankers Trust
Alex.
Bldg., New
O. Humphreys
York
Alten S. Miller
HUMPHREYS &
MILLER,Inc
,
ENGINEERS
Correspondence and Interviews
UNION
TRUST CO.
are
t •'
Solicited.
OF NEW YORK,
Broadway
$8,300,000
80
Capital and Surplus
Power—Light—Ga«
165 BROADWAY
MINING
Acts
H.
as
Girard
Executor,
Trustee,
Administrator,
Guardian,
Receiver,
Registrar and
Transfer Agent.
PHILADELPHIA
on
deposits.
•
YORK
&.
coT
Geologists
COAL AND MINERAL PROPERTIES
Bldg.
GEO.
p
,
.
E. B. Morris, President.
NEW
ENGINEERS
M. CHANCE
PHILADELPHIA, PA.
B.
SURPLUS, $10,000,000
'
.
.
Examined, Managed, Appraised
.
CAPITAL and
.
Mining Engineers and
Drexel
Chartered 1836
■
Interest allowed
Trust Company
•
.
EDWARDS
BROKER
Tribune Building, NEW
YORK, N. Y.
FOR SALE.—Timber, Coal, "Iron, Ranch an<
other properties.
Confidential
Negotiations,
Investigations
Settlements.
United States
Purchases of Property
West Indies, Canada, Mexico.
„
@FedFRASER