Full text of Commercial and Financial Chronicle : October 2, 1909, Vol. 89, No. 2310

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onimerciH
IN C L U D IN G
B a n k

&

Q u o ta tio n

S e c tio n

R a ilw a y

E a r n in g s

S e c tio n

B a n k e r s ’ C o n v e n tio n

R a ilw a y

V O L

8 9 .

&

I n d u s tr ia l

S A T U R D A Y ,

3

S e c tio n

E le c tr ic

S e c tio n

S ta te

O C T O B E R

TIxe ( P ir a n ic lje .

S u b s c r ip tio n in c lu d e s fo llo w in g S u p p le m e n ts —

B ■n k a n d Q u o t a t io n (m o n th ly )
I S : a t e a n d C it y ( s e m i-a n n u a lly )
R a il w a y a n d i n d u s t r i a l (q u a r te r ly ) E l e c t r ic I i \ il w .\Y (8 t im e s y e a r ly )
B a il w a y E a r m . g s ( m o n t h ly )
| B a n k e s ’ c o n v e n t io n ( y e a r ly )
T e r m s o f A d v e r t is in g — P e r I n c h S p a c e
T r a n s ie n t m a tt e r p e r in c h s p a c e (1 4 a g a t o l i n e s ) ............................................... $ 4 2 0
e T w o M o n th s
( - t i m e s ) .................................. 2 2 0 0
s t a n d in g B u s i n e s s c a r d s ] f f i L W
118 {a *
: : : : : : : : : Ho 0 0
C T w e lv e M o n th s (5 2 t i m e s ) .................................. S 7 0 0
C H I C A G O O F F I C E —P . B a r t l e t t , 5 1 3 M o n a d n o c k B lo c k ; T e l. H a r r is o n 4 0 1 2 .
L O N D O N O F F I C E —E d w a r d s & S m it h , 1 D r a p e r s ’ G a r d e n s, E . ( ’.
W I L V j IA IT I c s . D A N A C O M P A N Y , I P n b l i s h c r s ,
o x !)5 S ,
F r o n t P n o a n il D c p e y s t e r S t s .,
N ew V o ’h.

P u b lis h e d e v e r y S a t u r d a y m o rn in b y W I L L I A M B . D A N A C O M P A N Y
W illia m B . D a n a , P i e s i d e n . ; J a c o b .S e ib e r t J r ., V ic u - P r e s . an«l S t e .: A rn n l.i
G. I >aua, T r o a s . A d d r e s s e s o i a l l , O ffice o f t h e C o m p a n y .

CLEARING-HOUSE RETURNS.
T h e f o llo w in g ta b le , m a d e u p b y te le g r a p h , & c ., in d ic a te s
t h a t th e t o t a l b a n k c le a rin g s o f all c le a rin g h o u se s o f th e U . S .
for w e ek e n d . O c t. 2 h a v e b e e n § 3 ,2 1 3 ,0 9 6 ,4 9 8 , a g a in s t $ 3 ,­
2 7 5 ,8 2 5 ,5 2 6 la s t w e e k a n d $ 2 ,6 3 0 ,1 6 5 ,6 6 9 th e w e e k la s t y e a r .
1909.

1908.

%

New Y o r k ...................... - ..............- ...............
B o s t o n ................................................................
P h ila d e lp h ia ....................................................
B altim ore................................................... ........
C h ic a g o .......... ..................................................<
S t. L o u is .......................................................... .
N ew O r le a n s ...................... ............................

$1,659,478,523
120,133,773
123,412,826
21,901,600
231,453,221
55,715,815
14,074,743.

$1,297,890,520
125,524,708
98,547,025
20,418,517
195,214,747
51.212,056
10,305,747

+29.4
+ 0.6
+ 25.2
+ 7.3
+ 18.6
+ 8.8
+35.8

Seven c ities, 5 d a y s . . , .........................
O ther cities, 5 d a y s .......... - ...........................

$2,232,170,504
440,209,748

$1,799,179,386
400,413,208

+24.1
+ 9.9

T otal all cities, 5 d a y s ...........................
All cities, I d a y ............................................

$2,673,3 0,2
540,71 ,2-.

$2,199,592,594
430,573,075

+21.5
+ 25.6

$3,213,096,498

$2,630,165,009

+22.2

C l e a r i n g s — R e t u r n s b y T e l e g r a p h O c t.

2

T otal all cities for w e e k ..........................

T h e fu ll d e ta ils fo r th e w e e k c o v e r e d b y th e a b o v e w ill b e
g iv e n n e x t S a t u r d a y .
W e c a n n o t fu r n ish th e m t o - d a y
c le a rin g s b e in g m a d e u p b y th e c le a rin g h o u s e s a t n o o n on
S a tu r d a y , a n d h e n c e in th e a b o v e th e la s t d a y o f th e w e e k
h a s to b e in a ll c a se s e s t im a te d , a s w e g o to p r e ss F r id a y n ig h t.
W e p r e se n t b e lo w d e ta ile d figu res for th e w e e k e n d in g w ith
S a tu r d a y n o o n , S e p t . 2 5 , for fo u r y e a r s .
W e e k e n d in g S e p te m b e r

Clearings at—

1909.
N ew Y o r k .............
P h ila d elp h ia ____
P ittsb u r g h --------B a lt im o r e ______
B u ffalo ....................
A lb a n y ....................
W a s h in g to n -----R o c h e s te r .............
Scranton............ - ­
S y r a c u s e ...............
R eading.................
W ilm in gton ..........
W ilkes-Barre . . .
W heeling .............
H a r r isb u r g ..........
T renton ...............
Y o r k ......................
E r i c .........................
Greensburg - B in g h a m to n -----C h e s t e r .................
A ltoona
.......... F r a n k lin ..........
T otal M iddle
B oston .................
P r o v id e n c e ..........
H a rtfo rd ...............
N ew H a v en ..........
P o r t la n d ...............
Springfield.............
W o r c este r .............
Fall In v er .
N ew B edford-----L o w e ll_________
H olyok e.................
T otal N ew E n g

1908.

S
1,068,295,500 1,037,474,807
155,051,223 108,828,321
37,523,405
47,180,350
23,188,708
25,748.522
7,689,016
9.077,078
7,849,411
8,000,552
6,969,253
4,833,506
2,755,032
3,072,927
2,297,104
2,107,467
2,041,735
1.902.773
1,500,425
1.179.774
1,383,073
1,056,201
1,232,419
1,132,483
• 1,767,1)5
1,325,704
1,177,706
975,894
1,251,550
1,038,632
791,218
749,885
792,571
498,027
550,000
896.606
424,800
392,721
302,579
421,305
308,589
270,000
203,190
2,339,210,690 1,844,161,089
145,830,482 120,988,730
5,374,000
6,382,200
2,644,550
3,245,009
2.257,206
1,927,620
1,735,653
1,054,088
1,597,014
,000,000
1,440,961
1,585,720
811,133
979,180
620,090
1,001,987
458,910
1 12,9 10
400,145
498,975

2

165,881,513




138,016,834

25.

Inc. or
Dec.

+$6.3
+ 42.5
+25.8
+ 11.0

+25.8
+ 2 .0

+23.3
+ 11.5
+ 0.0

+ 7.3
+27.2
+31.0
+ 8 .8

+33.3
+ 20.7
+ 20.J

+ 5.5
+30.4
—9.3
—6.9
+8.3
+ 14.3
+32.9

1900.
8

,402,951,91­ 1,923,940,039
130,397.705 143,824,991
48,606,087
52,943,212
24,972,130
27,001,070
7,377.035
8,303,370
5,700,851
5,553,980
4,038,513
&,329,579
3,585,014
2,909,347
2,021,060
2,194,934
1,395,510
1,951,422
1.257,243
1,400,940
1,300,155
1,144,436
1,050,022
1,133,576
0631824
1,087,971
841,231
923,807
*' 083 ,618
594,232
731,251
432,310
490,401
431,900
458,200
539,271
560,587
274,098
259,481

N O .

S e c tio n

2 8 1 0

1908.

Inc. or
Dec.

1907.

1906.

C h ic a g o ............... ! C in c in n a ti--------C le v e la n d ______
D e tr o it__________
M ilw au kee______
In d ia n a p o lis ____
C o lu m b u s ---------| T o le d o __________
P e o r ia ....................
Grand R a p id s.
D a y to n .................
E v a n s v i ll e ...........
K a la m a z o o _____
Sprlngileld, 111 . .
F o rt W a y n e ____
Y o u n g s to w n -----C a n to n ................
R ockford .............
A k r o n ....................
Q u in cy....................
B lo o m in g to n ____
L e x in g to n .............
South B e n d _____
M anslleld...............
D eca tu r ...............
Springfield, O . . .
J a c k s o n .............. . ’
J acksonville, 111.
D a n v ille .................
Ann Arbor.............
A drian ________ '

S
2 73 ,5 8 0 ,4 2 0
2 2 ,8 4 1 ,3 5 0
1 6.905,816
1 3 ,8 23,732
1 1 ,4 92,505
7,5 7 9,920
5 .7 3 6 .1 0 0
3 ,7 7 3 ,0 6 9
2 ,5 0 0 ,4 5 3
2 ,2 9 5 ,8 7 7
1,8 3 2 ,3 9 0
1.805.101
1 ,1 8 5 ,0 2 6
1 ,047,333
953,373
1,5 8 1 ,1 6 5
689,883
6 59,422
85 5 .0 0 0
478,501
4 98,847
0 07.529
5 4 0 .0 0 0
34 2 ,2 7 8
3 97,462
544 ,3 8 5
279 ,9 0 0
200 ,0 2 0
36 1 ,7 2 6
128,668
17,176

S
S
2 2 7 ,7 6 1 ,0 5 8 + % .l
2 4 4 ,4 1 6 .3 5 0
2 2 ,7 3 3 ,7 0 0
+ 0 .5
2 5 ,3 3 9 ,9 5 0
12,944,723 + 3 0 .6
1 8 ,2 40,035
10,586,866 + 30 .6
1 3 ,2 85,409
1 0,599.214
+ 8.4
11,615,531
6 ,4 6 2 ,7 2 8 + 17.3
7,2 1 5 ,4 5 4
4 ,9 8 5 ,7 0 0 + 15.1
5 ,7 9 9 ,0 0 0
3 ,503,571
+ 7 .7
3 ,8 1 0 ,1 6 7
2 ,3 0 2 ,5 3 7 + 11.2
3,171,2.47
1,953,634 + 12.4
2 ,3 6 7 ,5 0 7
1,489,164 + 2 3 .0
1 ,883,112
1,755,614
+ 6 .3
1,882,563
9 3 1 ,4 2 8 + 27.3
9 3 0 ,3 4 6
7 75.000 + 3 5 .3
896,461
8 9 1 ,9 3 5
+ 6 .9
774,001
763,337 + 107.1
1,200,381
632 ,5 9 0
+ 9.1
3 9 0 ,6 2 9
589,193 + 11.9
747,542
5 30.000 + 61.3
710 ,0 0 0
495,214
— 3.4
418 ,2 4 6
454,317
+ 9 .8
434,181
410 ,0 5 0 + 60.4 •
557,763
413,162 + 30.6
433 ,8 7 6
36 0 ,3 3 9
— 5 .0
367 ,0 5 2
3 37.457 + 17.8
411,201
3 12,272 + 7 4 3
410,751
+ 2.9
272 ,0 2 8
3 0 5 ,8 8 6
217 ,1 8 6 + 19.7
264 ,6 0 8
280,583 + 2 8 .9
142,564
— 9 .7
153,464
18,000
—46
20.0Q0

S
2 0 6 .8 0 9 ,3 8 2
2 3 ,0 8 1 ,7 0 0
15,283,010
1 1 ,5 28,580
9 .7 7 6 ,9 7 0
6 ,6 4 2 ,3 0 5
5 ,0 9 4 ,3 0 0
3 ,8 6 5 ,1 3 0
2 ,6 0 8 ,5 9 9
1 ,893,031
1 ,506,209
1 ,5 5 6 ,626
9 1 0 ,460
782 ,752
7 64,187
5 88.367
41 5 ,861
090,711
610,144
3 92,364
369 ,706
5 14,212
417,261
34 3 ,910
3 2 7 ,576
3 2 5 ,590
225 ,000
. 2 3 4 ,449
137,231

T o t.M id .W e st.

3 7 5 ,7 7 4 ,4 3 9

3 1 5 ,9 1 1 ,6 2 0

+ 18.9

348,4^2,706

2 9 7 ,7 5 5 ,713

San F r a n c is c o ...
Los A n g eles..........
Seattle .................
P o r t la n d ...............
Spok ane..................
T a c o m a ..................
S alt Lake C it y ..
O akland.......... .......
H elena ..................
S acram en to_____
San D ie g o .............
Fargo ....................
Sioux F a lls ..........
S to ck to n _______
F r e s n o ....................
San J o se .................
N orth Y a k im a . .
B illings .................

3 8 ,3 52,421
10,472,222
1 3,8 09.368
7 ,7 4 4 .7 0 0
4,470,911
0,21 5 ,5 0 2
5,927,681
1,756,783
8 75,873
1 ,130,856
1,000,000
737,556
650 ,0 0 0
637,371
730,734
5 10,000
3 54,823
221,812

3 3 ,3 0 3 ,4 3 3
9,0 0 2 .3 2 4
9 ,8 0 9 ,2 4 5
7 .0 1 1 ,0 5 0
3 ,3 4 4 ,3 0 8
5 ,1 3 1 ,2 6 9
4 ,7 2 5 ,2 4 3
1,277,460
850,683
985,897
797 ,0 0 0
758,473
750,000
5 05,995
009 ,7 1 6
452,671
2 37,539
202,173

+ 15.2
+ 16.3
+ 4 0 .5
+ 10.4
+ 3 3 .7
+ 21.1
+ 25.4
+ 3 7 .5
+ 2.2
+ 14.7
+ 25 .5
— 2 .8
— 13.3
+ 2 6 .0
+ 2 0 .8
+ 12.7
+ 49.4
+ 9 .7

41 .2 2 1 ,8 9 9
9 ,7 9 0 ,8 1 7
10,195,426
6 ,550.613
3 ,2 6 2 ,8 0 8
4 ,9 8 6 ,3 0 0
5,7 7 3 ,6 4 6
2 ,2 8 8 ,1 0 9
1,034,991

4 3 ,3 4 4 ,399
9 ,7 5 7 ,624
9 ,6 6 1 ,381
5 ,7 8 1 ,814
2 ,3 8 0 ,041
4 ,4 0 9 ,393
4 ,6 1 0 ,697
2,89 6 ,934
885,821

"'"532",915
615 ,0 0 0
6 08,606

■ " 4*40',366
358 ,733

T o ta l P a cific. .

9 5 ,6 6 4 ,6 1 3

K ansas C i t y ____
M inneapolis..........
O m aha...................
S t. P a u l.................
D e n v e r ....................
S t. J o sep h .............
D cs M oines..........
Sioux C ity .............
W ic h ita .................
L in c o ln ________
D a v en p o rt.............
T o p e k a ..................
Cedar R apids . . .
Colorado xprlngs.
Pueblo .................
F rem on t ...............
D u lu th ....................

"""534",993
___________
......................

6 41,973
......................

80 ,1 2 1 ,1 5 1 | + 1 9 .3

8 7 ,3 9 6 ,2 1 8

8 5 ,1 6 9 ,1 6 6

4 8,5 9 2 ,7 8 0
4 0 .021,117 + 21.4
24,4 4 3 ,5 5 2
3 1 ,0 0 1 ,0 5 9 — 22.7
14,431,126
11,600,709 j + 2 1 .3
11,518,453
10,791,172
+ 6 .7
8 .9 3 0 ,9 6 8
7,92 4 ,6 4 1 + 12.7
5 ,9 7 6 ,4 1 0
4 ,9 2 9 ,7 2 5 + 21.2
2 ,9 0 9 ,8 4 5 + 22.2
3 ,5 5 5 ,3 3 2
2 .0 5 7 ,0 7 0 + 3 7 .8
2 .8 3 0 ,0 9 0
2 ,4 3 8 ,1 1 6
1 ,3 '8 ,7 9 0 + 8 0 .8
1,210,121 + 14.6
1,387,314
1,105,608! + 1 0 .3
1,285,440
1,356,813
1,007,091 + 30.7
947,023
• 766,438 + 23.0
583,594
+ 8 .0
630,281
537,901
— 1.4
i
431,993 — 3 0 .5
300,256
6 ,6 7 4 ,0 2 9 N o t Included In total

3 8 ,0 0 9 ,9 8 0
24 ,7 8 1 ,8 6 9
11,703,179
12,123,762
8 ,7 8 9 ,2 8 9
4 ,9 4 3 ,3 6 5
2,9 8 0 ,5 8 1
2,4 3 0 ,9 9 2
1.277,908
1,136,437
1,403,072
1,104,019
568,751
715,000
607,319
447,224

2 5 ,9 0 0 ,'i 09
2 1 ,0 9 6 ,5 2 0
9 ,4 1 7 ,647
9 ,5 5 9 ,3 2 3
6 ,9 7 5 ,913
3 ,9 7 6 ,3 7 0
2 ,5 7 1 ,841
1 ,877,287
1 ,186,093
1,028,339
1,00 3 ,198
848,382
531,223
5 50,000
5 19,090
257,711

T o t. otherW est

129,160,826

+ 8 .4

113,094,747

8 8 ,1 8 9 ,9 5 6

S t. Louts...............
N ew O rleans____
L o u is v ille .............
H o u s t o n ...............
G a lv e s to n ______
Savannah .............
R ichm ond _____
Fort W orth..........
A t l a n t a .................
M e m p h is_______
N a s h v i l le .............
N o r f o lk ________
A u g u s ta ................
B ir m in g h a m -----K n o x v ille --------C h attanooga . . .
C h arleston.............
M o b ile ....................
J a c k s o n v ille ____
L ittle R o c k ..........
O k la h o m a ............
M a c o n ....................
B e a u m o n t.............
A u s t in ....................
V ic k s b u r g .............

’63,6S8,905
14,392,037
1 0,179,620
13,809,826
7 ,1 7 8 ,5 0 0
8 ,9 4 0 ,2 0 5
0 ,6 4 3 ,4 5 0
6 ,9 8 2 ,7 0 0
8 ,0 0 0 ,0 0 0
3 ,9 8 7 ,8 6 4
3 ,6 5 0 ,0 0 0
3 ,1 3 9 ,1 6 4
3 ,3 9 3 ,8 6 8
2 ,0 4 2 ,6 7 2
1,708,068
1,339,096
1,808,237
1 ,157,280
1,563,402
1,467,107
2 ,1 5 0 ,0 0 0
1,25 0 ,1 9 0
471,573
9 00,548
168,401

55,413,011 + 14.9
12,597,300 + 14.2
9 ,5 3 8 ,7 0 6
+ 6.7
11.043,013 + 19.1
7 ,2 2 8 ,0 0 0
— 0.7
6,1 4 5 ,8 0 9 + 45.4
5 .3 2 4 ,7 3 5 + 24.8
5,242,871 + 33.2
4,15 0 ,5 7 2 + 9 2 .5
4,08 5 ,2 3 3 — 24.0
2 ,7 6 0 ,5 4 0 + 32.2
1,995,837 + 57.3
2 ,1 4 4 ,9 6 5 + 5 8 .2
1,263,968 + 25.8
1,289,229 + 32 .5
1.261,054
+ 6.2
1,312,199 + 42.4
1,187,965
— 2 .6
1,108,596 + 41.0
1,139,990 + 2 8 .8
8 7 7 ,0 0 0 !+ 145.2
80 0 ,7 7 2 i + 5 6 .1
451,717! + 4 .4
585.020 + 53.9
235,659 | — 24.3

52 ,6 7 8 ,782
16,389,401
11,670,751
12,030,204
7 ,9 9 9 ,0 0 0
5,2 5 1 ,491
5 ,0 9 2 ,1 8 8
2 ,6 7 4 ,923
3 ,5 6 9 ,862
3 ,1 3 3 ,4 3 4
2,77 7 ,242
2,18 1 ,111
1,981,393
1,689,057
1,3 si). 408
1,05 4 ,755
1,141,791
1,340,382
1,004,512
1 ,003,353
6 95,133
828,321
4 00,000
___________

170,133.445 i

140,150,367 I + 2 1 .4

58 ,7 6 0 ,7 4 5
16,745,082
11,663,238
14,380,792
6 ,7 1 1 ,0 0 0
6 ,2 1 9 ,6 6 0
5,93 3 ,0 1 9
3 ,6 9 4 ,3 7 0
4,5 9 7 ,6 0 0
3 ,3 5 3 ,2 8 6
5 ,0 5 9 ,5 7 6
2,5 2 9 ,4 6 2
3 ,0 7 5 ,3 8 5
2 ,057,167
1,634,370
1,327,631
1,471,374
1,392,841
1,013,863
1.277,607
874,151
755,082
482,174
___________
- ....................
155,489,475

T o ta l Southern

119,127,474

138,348,094

T o ta l a ll______ 3 ,2 7 6 ,8 2 6 .6 2 6 2 ,6 3 7 ,4 8 9 .1 4 1 l _ ± i 4J 2 ,4 9 9 ,5 1 7 ,0 9 6 ;2,940 ,2 0 9 ,774
~ O u ts id e r s ’. Y . 17207,530.020 \ 1 ,0 0 0 ,0 1 4 ,3 3 1j + 2 0 .8 1,096 ,5 0 5 ,1 8 5 j 1,0 1 6 ,2 6 9 ,705

+ 26.8 1,048,232,428 2,172,349,653
+ 20.6
127,608,504 138,860,016
5,992,800
+ 18.8
0,343,400
3,290,239
+ 22.7
2.951.000
2,332,579
+ 17.1
2,218,141
—4.7
1,872,693
2,011,848
+25.2
1,549,468
1.800.000
+ 9.0
1,257,587
1,487,878
+20.7
776,397
888,513
+ 60.4
521,500
515,844
—3.5
430,791
500,732
+22.9
435,577
517,092

C anada—
M o n tre a l...............
T oronto •_______
W in n ip eg_______
V an cou ver............
O t t a w a .................
Q ueb ec_________
H a li f a x .................
H a m ilto n ...............
S t. J o h n ...............C a lg a r y ________
V ictoria - .............
L on don .................
E d m o n to n ---------

146,851,527 ’167,337,102

T o ta l C an ada.

+ 2 0 .0

C ity

S e c tio n

Week ending September 2 5 .
1909.

T e r m s o f S u b s c r ip tio n — P a y a b le in A d v a n c e
F o r O n e Y e a r ...................................................................................................................... $ 1 0 0 0
F o r S ix M o n t h s ....................................................................................................................
<5 0 0
E u r o p e a n S u b s c r ip tio n ( in c lu d in g p o s t a g e ) ....................................................... 1 » 0 0
E u r o p e a n S u b s c r ip tio n > ix m o n th s ( in c lu d in g p o s t a g e ) ............................. 1 0 0
A n n u a l S u b s c r ip tio n in L o n d o n ( in c lu d in g p s t a g e ) .................................. £ 2 1 4 s .
S i x M o n th s S u b s c r ip tio n in L o n d o n ( in c lu d in g p o s t a g e ) .......................... £ 1 1 1 8 .
............ ..................................... $ 1 1 5 0
C a n a d ia n S u b s c r ip tio n ^ in c lu d in g p o s t a g e )

a n d

1 9 0 9 .

Clearings at—

PUBLISHED WEEKLY.

P. O.

2

R a ilw a y

3 3.6 4 7 ,3 3 9
26.4 0 0 ,0 0 0 I
10,537,2701
0 ,8 9 8 ,6 5 8 1
3 ,5 3 0 ,0 1 6
2,15 4 ,1 2 3
1,719,183
1,549,653
1,332.384
2,36 7 ,7 5 1
1,407,874
1,113,348
1,007,211

3 0 ,7 33,874
2 3 ,0 5 9 ,3 0 0
1 3,113,220
4 ,3 7 6 ,8 4 6
3 ,0 7 2 ,4 7 6
2 ,3 1 0 ,5 3 8
1 ,481,843
1,386,086 !
1,400,264
1,463,684
1 ,1 4 9 ,9 3 5 1
992,691 |
737 ,3 4 0 |

+ 9 .5
+ 14.5
+ 26.1
+ 5 7 .6
+ 1 5 .1
— 6 .7
+ 10.1
+ 1 1 .8
— 4 .8
+ 61 .8
+ 2 2 .3
+ 1 2 .2
+ 3 6 .6

30 ,3 6 1 ,1 3 1
18,715,200
9 ,9 9 4 ,1 8 0
4,3 7 4 ,9 3 6
3,08 1 ,6 6 1
2,061,151
1,692,810
1,560,317
1.300,649
1,182,933
1,034,242
1,101,580
728,461

2 7 ,4 3 8 ,6 5 9
21 ,0 3 7 ,657
10,549,304
2 ,7 3 0 ,1 1 9
2 ,3 6 8 ,734
1,761,613
1 ,514.137
1 ,442,931
1,27 8 ,950
9 76,643
775,481
1,0 2 2 ,326
57 2 ,365

99,6 7 0 .8 1 6 !

$ 5 ,2 78,397 j + 1 6 .9

7 7 .U 9 .2 5 1

7 3 ,4 6 8 ,9 7 9

prising that both insiders and the general public should
continue to buy the shares with unabated confidence,
With the whole city given over to the events and even after the great advance which has taken place in
festivities connected with the Hudson-Fulton cele­ them.
brations, mercantile and financial affairs have received
One of the many cases of tangle in enforcing the new
much less attention than usual. Nevertheless on the
Stock Exchange there has been great activity, with tariff has just the interest which belongs to illustrating
the trend of prices upward, and several leading stocks, how the involved scheme works in practice. One
among which Atchison Topeka & Santa Fe and the section directs that all watch or clock dials imported,
Steel shares deserve special mention, have made new whether attached to movements or not, shall have
high records for the year. A number of other indus­ indelibly marked upon them the name of the country
trial properties have been distinguished in the same of origin. There are other requirements about mark­
way, the reason for the advances in these cases being ing the country and the maker upon movements and
found, no doubt, in the steady headway which trade cases; but these do not concern the present difficulty.
revival is making. Indeed, it may be said that as Watch dials are imported separately as well as in com­
far as our leading industries are concerned revival plete form, and the foreign dials may be put upon
and activity are the dominant features. On every domestic movements; as the name on the dial is always
side the evidences of industrial expansion understood to apply to the complete watch, the
are multiplying and becoming more pronounced. importers point out that a foreign dial on a domestic
This week there have been some strikingly good returns watch would at once harm the importing business
of earnings from large companies and the number of idle and mislead the purchaser.
So they asked leave to have this foreign name
cars which a few months ago was at a very large figure is
rapidly dwindling and seems likely soon to become placed on the under side of the dial. But another
altogether extinguished. In the case of the iron and section of the new law enacts that “all articles of for­
steel industry the tone is positively buoyant and eign manufacture or production which arc capable of
buying is on such a scale that the facilities for meeting being marked, stamped, branded or labeled, without
it, at least in the matter of the crude material, aie injury, shall be marked, stamped, branded, or labeled
being unduly taxed, and the trade papers tell us that in legible English words in a conspicuous place that
importations are becoming an important factor in a shall not be covered or obscured by any subsequent
attachments or arrangements, so as to indicate the
number of directions.
The wonderful activity of the iron and steel industry, country of origin.” The foreign mark, if on the
and its developing prosperity, is reflected in the course under side of a watch dial, would not be in a con­
of prices of the shares of the United States spicuous place that could not be covered by any sub­
Steel Corporation.
Recently these shares have sequent treatment. It was also pointed out, during
been establishing new high records each week, the session, that some articles which are capable of
and yesterday Steel common got up to 92, or being marked without injury are so cheap that the
within 8 points of par. The rise in these shares cost of marking would be prohibitory. Marbles were
is a splendid tribute to the genius of the man who mentioned as an instance, and it was said that the
organized this, the world’s greatest industrial cor­ cost of the mark would be perhaps more than the cost
poration, but it also indicates favorable trade con­ of production. So it was hinted that this scheme of
ditions. In the period of trade reaction, only about prominently advertising the country and the maker
five years ago, Steel common sold down to 8% and of foreign articles was really another of the “jokers”
college professors wrote books and learned treatises of which something has been said, and that the real
to show how absolutely worthless it was. It was intent was to discourage importations by making them
then demonstrated with mathematical accuracy that unprofitable. Importations to a large amount have
the concern must collapse under the first puff of been stopped in the Custom House here until some de­
adversity. But the company has been managed cision can be reached as to what shall be done, in the
with consummate skill, as it was designed it should be, absence of marks or labels, the goods having been
and in the years of prosperity those in control kept finished before the foreign maker had time to learn
re-enforcing its strength through the application of the requirements of the new tariff. One importer had
surplus earnings to the erection of new plants and the the goods marked here, at considerable expense and
perfection of old ones. This was done with the idea trouble, and they were then re-examined by the ap­
that it might produce goods so cheaply and of such praisers before being released; another decided to re­
satisfactory quality as to out-distance every competitor export his and have the marking done by the foreign
maker; another one is perplexed whether to send his
in the trade.
The result of that policy and of these methods cheap dials back for placing a single omitted word
was seen last year when in a period of unparalleled on them.
A Treasury Department circular of Aug. 27 said
trade depression, with consumption cut almost in two,
the Steel Corporation was able to earn its dividend in that dials and movements are not covered by Section 7,
full, both on the common shares and on the preferred being specifically provided for by paragraph 192.
shares. To-day, with the Steel industry entering But that paragraph merely declares the rates of duty,
upon a new era of prosperity, the Steel Corporation is and says that “none of the aforesaid articles shall be
simply “coining money ” in the vernacular of the delivered to the importer unless marked in exact con­
Street. We may be sure, too, that a part of this formity to this direction.” The word “unless” seems
money will be used to fortify the concern still further to allow the marking which has been done since arrival
against the time when less favorable conditions may here; and Section 7 provides that “until marked in
again prevail. In these circumstances, it is not sur­ accordance with the directions prescribed in this sec­
THE F IN A N C IA L SIT U A T IO N .




tion no articles or packages shall be delivered to the
importer.” Each separate article must therefore be
held in custody until literal compliance has been had,
and there is nothing in the law to warrant the excep­
tion of dials and movements as stated in the Treas­
ury circular. This may be declared by a Treasury
interpretation, but the effect of worrying and obstruct­
ing importations is very plain.
South America offers opportunities for the devel­
opment of the export trade of the United States that
our manufacturers should make all possible efforts to
seize. There is no question that much of the trade
that now goes to Europe would come to us if our
people would only study closely the requirements of
those foreigners to whom they wish to sell. We
directed attention recently to the held offered by
Argentina to manufacturers of railway equipment
and supplies through the exhibition to be held at
Buenos Ayres next year, and now we learn that the
time of holding the exposition of American products
at Santiago, Chili, has been postponed until the spring
of 1910. Mr. Alfred A. Winslow, our Consul at Val­
paraiso, draws attention to the fact in a communi­
cation to tho Department of Commerce and Labor,
and strongly advises United States firms to participate.
Referring to Chilian enthusiasm over the enterprise
and the granting of the use of buildings by the General
Government, he considers that the exposition will be
of great value to our interests if the matter is taken up
seriously and thoroughly. The field, lie states, is
broad, covering most descriptions of agricultural,
mining, electrical and industrial machinery, manu­
factured articles in general, some kinds of raw ma­
terials and some lines of food products. He cautions
intending exhibitors, however, that only such goods
and machinery as may be suited to the needs of the
country, and for which there is a demand in sight,
should be taken to Chili. And in line with that idea,
he suggests consultation with Chilian representatives
here as to the probability of creating a demand for
(lie goods to be placed on exhibition.
The Argentine International Railway & Transporta­
tion Exposition authorities have, at the solicitation
of the American Minister at Buenos Ayres, postponed
to Dec. i the final date for reception of applications
for space from our manufacturers. This exposition is
urgently recommended to Americans by the Minister,
and especially to manufacturers of novelties, rail­
way and tramway equipment and appliances, signal
systems, cattle, mail and refrigerating cars, ventilating
apparatus, steam and electrical machines and machin­
ery, tools for shops, Ac. The Minister also announces
that he has received the consent of the Argen­
tine authorities to arrange to protect from fraud­
ulent registration of trade-mark any novelties exhib­
ited.
As of interest in connection with Argentine affairs,
we notice that a bill has been introduced in the
Congress of that country providing for the expenditure
of $ 12,000,000 Argentine gold for building a port for
ocean-going vessels at Mar del Plata. The geographi­
cal position of this port, which has lately come into
prominence as a railway terminus, combined with the
rapid development of the adjacent very rich pastoral
country, warrant expectations of its steady and
gradually increasing importance. It is also reported




that the River Plate Telegraph Co. has offered to lay
a direct cable from Buenos Aires to Europe via Tritsan
da Cunha free of all cost to Argentina.
Progress made and making in Argentina is clearly
indicated in the message of President Alcorta to the
Congress at the recent opening of its session. He
points out that the national railways have been the
first to profit by the extensive works undertaken
through the financial support of Congress. Within
eight months after the passing of the estimates, 50new
locomotives were put into service and the c< istruction
of 1,000 cars contracted for. Considerable stretches
of line have been renewed and the service generally
improved. Satisfactory progress is being made with
the lines connecting San Juan and Serrezuela, Tinogasta and Andalgala, Ledesma and Embarcacion,
and Santa Fe and Dean Funes. Altogether during the
year 1908 and the five months of the current year
1,331 miles of new line were constructed, bringing the
total mileage of the country up to 15,353 miles. In
addition, 4,030 miles arc under construction and 6,200
miles under survey. In 1908 48,000,000 passengers
were transported by rail, or 6,200,000 more than during
1907. The freight handled amounted to 31,500,000
tons, or 3,600,000 tons more than during the previous
year. The capital invested in State railways is esti­
mated at $84,600,000 gold and that in other lines
$753,100,000.
Russia on Monday of this week bought in the London
bullion market 4% millions of the Cape gold that was
offered on that day. Owing to the urgency of the
demand, the price of the metal was advanced % pence
per ounce, to 77 shillings 11% pence. Thus were
Russia’s requirements satisfied and the drain of gold
diverted from Germany, contributing to the relief
of that market.
There seems to be little probability, according to
London cables, that the House of Lords will reject
the British Budget. Should, however, such a course
be taken, a general election would be held in January,
by which time the new registry of voters would be
ready. There is a growing feeling among the Liberals,
however, that the Upper House will not take this
drastic step; one of the influences making for peace
is the King, who is averse to having an acute consti­
tutional issue raised. Mr. Balfour and Lord Landsdowne are also believed to favor the passing of the
Budget by the House of Lords.
The Spanish campaign against the Moors in Morocco
was this week brought to a successful termination,
after having been prosecuted since July 27, by the
capture by General Marina of Mount Garuga and the
occupation of two important villages. The Spanish
war office on Monday announced the complete success
of the maneuvers in Morocco against the Moors; both
Nador and Zeluan had been occupied. The circle of
circumvallation around Mount Garuga was then con­
sidered as almost closed and the position of the Moors
at last accounts was claimed to be desperate. Laid
Amar, a rebel leader, appeared before General Marina
on Sunday and asked terms of surrender for the tribes
entrenched on the mountain; while the results of the
application were unknown, it is believed that the
Moors were ready to submit without conditions.

Aii Alhucemls, Morocco, dispatch of Sept. 27 said
that the coast line was illuminated with the fires of
burning villages; after the Spanish batteries, in the
fighting of Sunday, had silenced the native artillery,
the infantry advanced and drove the Moors from their
positions. The capture of Nador, according to a
Melilla dispatch, was comparatively easy, owing to the
strategy employed by General Orozco, who resorted
to a feint in the direction of Zeluan, to which point
the Moors rushed; the Spanish commander then turned
and marched into Nador. The defences of the town
were razed and it was burned by the Spaniards. The
Moors had constructed deep ditches around Nador
with the intention of making a stubborn defence.
Having obtained possession of Nador, the Spanish artil­
lery shelled Zeluan; the positions surrounding Nador
are now occupied by 20 thousand Spanish soldiers.
Now that military successes have been so complete
the Spanish Government is giving its attention to
peaceful overtures. If these can be conducted with
success equal to the military demonstrations, much
relief will be felt. The Government of Premier Maura
is daily becoming more embarrassing through the
criticism of the lower classes; a large section of the
upper class is, however, manifesting warm support
of the Government. A Madrid cable of Sept. 27 states
that the Cabinet has decided to restore the constitu­
tional guaranties, except in the provinces of Barcelona
and Gerona, and to summon the Cortes on Oct. 1.5.
It may be noted that an incident which was re­
garded by the Spanish military commander as de­
noting the official ending of the war occurred on
Wednesday, as reported from Madrid. A brigade of
troops under General Delreal marched out of Melilla
early in the day and advanced up the slopes of Mount
Garuga, which, as heretofore stated, has been the
stronghold of the Moors. The top of the mountain
was reached at 7 o’clock and the standard of Spain
was unfurled to the breeze from the topmost peak.
The Spanish warships fired salutes in celebration of
the event.
On Wednesday the end of the war was celebrated
at Madrid. General Marina’s skilfully planned opera­
tions were the subject of much praise. After the
reverse of July 27 and the subsequent losses the Gen­
eral withdrew his advanced lines and waited until he
had concentrated 60,000 men and 68 cannon, which
force was divided into two columns, one of which pro­
tected his flank and the other was sent to the front
for active operations.
As it is manifestly impossible for Morocco to pay
Ihe indemnity which Spain will demand, Spanish
occupation can be protracted for many years. The
mines, which were the cause of the original trouble,
are considered immensely rich, and much is expected
from industrial exploration.
A Madrid cable of Sept. 30 reports that on that
night six thousand Moors made a desperate attempt to
re-capture Mount Garuga, but, however, were finally
repulsed. The Spaniards have now abandoned their
most advanced positions, which were strategically un­
satisfactory, and have fortified themselves on the
heights of Beni Enser, dominating the gorge where
the battles of July 23 and 24 were fought.
The Pennsylvania Railroad continues to improve
on its small earnings of a year ago. Rut while the



gains are of noteworthy fn'oportions, they have not
yet reached the point where they equal the losses
sustained in 1908. The return for the month of
August was made public this week, and it shows a gain
in gross earnings as compared with last year of $1,­
900,200 on the lines directly operated east of Pitts­
burgh and Erie and a further gain of SI,539,700 on
the lines directly operated west of Pittsburgh, making
$3,439,900 for the combined system. In August 1908,
however, the amount of the loss sustained by the
combined lines was no less than $5,890,900. In the
net earnings we have this time an improvement of
$580,400 on the Eastern lines and of $478,200 on the
Western lines, or $1,058,600 together. Last year in
this month the Eastern lines recorded $1,102,000 loss
in net and the Western lines $430,000 loss, or $1,532,­
000 combined. In the following we furnish a sixyear comparison of the earnings of the Eastern lines,
being the only portion of the system for which we
have the data for such a comparison.
Lines Hast o f
Pittsburgh.

1909.

1908.

1907.

1900.

1905.

1901.

S
$
S
S
$
S
August.
G ross e a r n in g s.- 13,541,999 11,644,799 15,522,399 13,1 1 2 ,4 9 9 11,914.899 1 0 ,2 99,890
Oper. e x p e n s e s -. 8,8 6 5 ,9 2 9 7 ,5 4 6 ,1 2 9 10,321,729 8 ,2 7 1 .4 2 9 7 ,4 7 1 ,4 2 9 0 ,1 8 0 ,2 2 8
N e t e a r n in g s.. 4.G79.070 4 ,0 9 8 ,6 7 0 5 ,2 0 0 ,6 7 0 4 ,8 4 1 ,0 7 0 4 ,4 4 3 ,4 7 0 4 ,1 1 3 ,0 6 2

J a n . 1 to A u g . 31.

Gross e a r n in g s. . 9 0 ,003,713.86,950,013 109264113 9 5 ,3 4 0 ,2 1 3 84,0 7 3 .0 1 3 7 0 ,4 70,669
Oper. e x p e n s e s .. 0 9 ,4 0 8 ,7 8 9 0 2 ,9 8 6 ,7 8 9 7 9 ,6 7 4 .0 8 9 0 0 ,8 3 2 ,3 8 9 0 1 ,1 9 1 ,3 8 9 54,1 05,113
N e t ea rn in g s. . 2 7 ,1 3 4 ,9 21|23,063,224 2 9 ,590,024 2 8 ,5 1 3 ,8 2 4 23,4 8 2 ,2 2 4 2 2 ,3 71,550

One feature of last week’s bank statement was the
shifting of bank loans after the beginning ©f the week;
this was indicated by a decrease of 1 0 millions in
average to 6 millions increase in actual loans. There
did not appear to be active preparations, either by
banks or trust companies, for the distribution of about
160 millions dividends and interest after the begin­
ning of October; neither was there evidence of accumu­
lations of cash as the result of the expenditures of the
visitors to this city incident to the Hudson-Fulton
demonstration. Average cash decreased $672,500;
the statement of actual conditions indicated a loss of
$6,100,800, part of which was said to be due to re­
mittances to the South and also to Treasury transfers.
The actual decrease in reserve was $5,245,350 to $6,­
876,700; computed upon the basis of deposits less those
of $1,675,600 public funds, the surplus was $7,295,600.
There were few new features observable in the mar­
ket for money this week. Eastern banks continued
to re-discount for institutions at the South; exchange,
which last week moved to the import point for New
York funds at Chicago, rose to par, which was said to
be due to remittances hither incident to the celebra­
tion; subsequently, however, it fell to a discount. Call
money on the Stock Exchange seemed to be artificially
“pegged,” for there was scarcely the fraction of a
change until the last day of the week, when 4% was
recorded. This inertia appeared to indicate that,
while specialties were soaring on the Stock Exchange,
the public were not participants in the movement;
hence commission-house requirements for money were
small. Canadian banks drew gold coin to the amount
of $1,400,000 to assist in the movement of the Do­
minion’s crops to market, and this drain may possibly
continue in the near future.
Money on call, representing bank and trust company
loaned at the Stock Exchange during the

balances,

week at 4% and at 2%%, averaging about 3%.
The 4% rate was the highest since January last. All
lending institutions quoted 2%% as the minimum. Time
loans on good mixed Stock Exchange collateral were
chiefly in request for the shorter dates which would
carry the borrower to the end of the year, when there
were expectations, based upon current quotations for
these periods, that over-the-year money would rule
at easier rates. Loans for sixty days were placed in
moderate amounts at
for ninety days
or for the November maturity 3%@4% was quoted.
Contracts maturing in the closing months of the year
were made at 4%; four months, or January money,
was quoted at
and there were some offer­
ings at this quotation for five months and at 4J4%
for six to seven months. Commercial paper ruled at
unchanged quotations, with a good supply and a
moderate demand, which is chiefly from Eastern and
Middle State banks. Rates are 4@4><»% for sixty to
ninety day endorsed bills receivable and
for choice four to six months’ single names.

lower at 4 86@4 8605 and cables at 4 8620@4 8625.
On Wednesday long fell 10 points to 4 8410@4 8420,
short 5 points to 4 8595@4 86 and cables 5 points to
4 8615@4 8620. On Thursday long rose 5 points to
4 8415@4 8425 and cables 5 points to 4 8620@4 8625;
short was unchanged. On Friday long, short and
cables were 5 points higher.
The following shows daily posted rates for sterling
exchange by some of the leading drawers.
F r l.,
M o n ., T u rs.,
W ed., T hurs., F ri..
Sept. 24 Sept. 27 Sept. 2 8 'Sept. 29 Sept. 3 0 Sept. 31
B row n
100 days
Bros. & C o------------- iS ig h t. .
K idder,
j6 0 days
P ea b o d y & C o_____l S ig h t. .
Bank B ritish
j 60 da y s
N orth A m e r ic a ____1S i g h t ..
B an k o f
JCOdays
M ontreal...................... 1S ig h t. .
C anadian B a n k
/GO days
of C o m m e rc e .............'iS ig h t..
JOOdays
H eldelbach, Ickel*
ftetmer & C o_______ \ s i g h t . .
j 60 d ays
Lazard
Frcres ........................ 1S i g h t ..
M erchants’ B an k
JOOdays
of C an ada.......... ......... iS I g h t..

4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4

85*$
87
85 )$
87
8 5)$
87
85 y.
87
85*$
87
85*$
87
85 *$
87
85*$
87

ll 'A
85H
85*$
87
85 *$
87
|
S5*$
87
|
8 5 )$
87
l
85 )$
87
85 }$
87

85 *$
87
85*$
87
85*$
87
8 5 )$
87

85*$
87
85*$

85*$
87

85*$

85*$
87
85*$
87
85*$
87
85*$
87
85*$
87
85*$
87

85*$
87
85*$
87

g *

a *

g *
85*$

85*$
87
85*$
87

85*$

8 5)$
87
85*$
87
85*$
f5*$
85)$
87
85*$
87
85*$
87
85*$
87

Rates for exchange on Friday were 4 8420@4 8425
for long, 4 86@4 8605 for short and 4 8625@4 8630
for cables. Commercial on banks 4 84@4 8405 and
The Bank of England rate of discount remains un­ documents for payment 4 83Vs@4 84^. Cotton for
changed at 23^%. The cable reports discounts of payment 4 83*^ @4 8334, cotton for acceptance 4 84Cm
sixty to ninety day bank bills in London V /% (w ,2% % . 4 8405 and grain for payment 4 84t^@4 84)4.
The open market rate at Paris is 2} 4 % and at Berlin
The following gives the wreek’s movement of jfcpney
and Frankfort it is V / 2 % . According to our special
to and from the interior b}r the New York banks.
cable from London, the Bank of England lost £2,174,­
Received by
Shipped by
N et Interior
057 bullion during the week and held £37,235,058
Week aiding October 1 1909.
X . Y . Hanks. N . V . Iianks.
Movement.
at the close of the week. Our correspondent further C u rr e n c y ....................................................... $ 8,0 7 3 ,0 0 0 $ 8 ,2 7 7 ,0 0 0 Loss $204,000
advises us that the loss was due largely to exports to G old ............................................................... 1 ,0 1 1 ,0 0 0 1,40 0 ,0 0 0 Loss 389,000
$ 9 ,0 7 7 ,0 0 0 Loss
T otal gold and legal ten d e rs___ - j 8 9 ,0 8 4 .0 0 0
$593,000
Egypt. The details of the movement into and out of
With the Sub-Treasury operations and gold transfers
the Bank were as follows: Imports, nil) exports, £i,the
result is as follows.
539,000 (of which £8S4,000 to Egypt, £525,000 to
South America and £130,000 to various destinations),
Into
Out o f
N et Change in
Week ending October 1 1909.
Banks.
Banks.
and shipments of £635,000 net to the interior of Great B a n k s’ Interior m o v em en t, a s a b o v e . $ 9 ,0 8 4 ,0 0 0 1 $ 9 ,6 7 7 ,0 0 0 Hank Holdings.
Loss
$593,000
Sub-T reas. oper. and gold tran sfers.
3 1 ,0 0 0 ,0 0 0 Loss
25,300,000]
5 ,7 0 0 ,0 0 0
Britain.
T otal gold and legal ten d e rs______

The market for exchange was extremely dull this
week and fluctuations were within a narrow range.
The end-of-the-month settlements on the foreign stock
exchanges were not disturbing, indicating a good
supply of money; but the high open market discounts
at almost every important European centre seemed
to foreshadow a more or less general advance in official
discounts at the weekly conferences of the courts of
directors; this fact had a deterrent influence upon opera­
tions in international exchange. Russia bought prac­
tically all the South African gold that was offered in
the London bullion market on Monday. Vienna was
reported to be a bidder for gold in the open market at the
principal Continental centres and the demand for the
metal at the Bank of England for shipment to Egypt and
South America continued urgent. These gold move­
ments were among the other important factors con­
tributing to intensify inertia in exchange. Commodity
bills were in good supply but they seemed to be
promptly absorbed. Towards the close of the week
offerings of security bills had a depressing effect upon
rates.
Compared with Friday of last week long sterling
on Saturday fell 5 points to 4 8425(6*4 8435, short
rose 5 points to 4 8610@4 8615 and cables were un­
changed at 4 8630@4 8635. On Monday long was 5
points lower at 4 8420@4 8430, short 5 points at
4 8605@4 8610 and cables at 4 8625@4 8630. On
Tuesday long was unchanged, short was 5 points




834,384,000]

$ 4 0 ,6 7 7 ,0 0 0 Loss

$ 6 ,2 9 3 ,0 0 0

The following table indicates the amount of bullion
in the principal European banks.
Hanks o f

E n g la n d . .
F rance. . .
G erm an y.
iln s s la . .
A us.-IIun
S p a in ____
I ta ly .
..
N oth lands
N at.B cIg.
Sw eden . .
S w iU ’lan
Norw ay . .

September 30 1909.

|

Cold.

SUver.

Total.

;

£

£

£

|

37 ,2 3 5 ,0 5 8
145,320,960
3 0 ,4 9 9 ,3 5 0
131,884,000
57 .4 8 2 .0 0 0
16.050.000
3 8 .3 8 6 .0 0 0
10.526.000
4 .2 6 6 .0 0 0
4 .3 8 3 .0 0 0
4 .9 7 0 .0 0 0
1.695.000

3 0 ,0 3 3 ,4 8 0
1 2,594,850
7 .7 8 9 .0 0 0
12.442.000
3 1 .6 2 1 .0 0 0
4.40 0 .0 0 0
3 ,0 9 0 ,S00
2 .1 2 8 .0 0 0

October 1 1908.
Oold.

£
3 7 ,2 3 5 ,0 5 8 3 S ,017,545
181,360,440 129,657,067
52,094.200! 3 9 ,6 0 0 ,0 0 0
1 39,673,0 0 0 1 2 0 ,0 5 2 ,0 0 0
69,924,000! 48 ,5 4 5 ,0 0 0
47 .6 7 1 .0 0 0 15,724,000
42,786,000! 3 7 ,0 3 7 ,0 0 0
13,625,800! 7 ,7 6 9 ,6 0 0
0,384,000! 4 ,010,000
4,383,000; 4 ,1 3 2 ,0 0 0
4 .9 7 0 .0 0 0 4 ,6 0 4 ,0 0 0
1.69 5 .0 0 0
1 ,629,000

SUrer.

Tola!.

£

£

3 8 ,0 1 7,545
35 ,8 0 5 ”,50(5' 165,462,576
12,078,003 6 1 .6 7 3.000
7.25 7 .0 0 0 127,309,000
13.037.000 6 1 .5 8 2 .0 0 0
33 .8 0 9 .0 0 0 4 0 .5 3 3 .0 0 0
4.50 0 .0 0 0 4 1 .5 3 7.000
4,09 5 ,2 0 0 11 ,8 6 4,800
2.00 8 .0 0 0
0 ,0 2 4 ,0 0 0
4 .1 3 2 .0 0 0
4 .6 0 4.000
1 .629.000

T otal w eek 401,603,368 1 1 0 ,1 0 8 ,13ojo01.801.498|450,7 8 3 ,2 1 2 1 1 2 ,5 8 0 ,7 0 9 563,372,021
Prev. week 494,872.125 1 1 0 ,309,230^ 605,181,355453,660,5 0 4 j ll4 ,862,013 |56 8 ,5 2 8,517

N A V IE S

AS

PROMOTERS

OF

PEACE.

Speaking last Wednesday'night, at the dinner to
the guests of the Hudson-Fulton Celebration, Ad­
miral von Ivoester of the visiting German fleet toasted
“the American Navy and its gallant officers,” and in
referring to the recent cruise of our war-ships around
the globe, added: “This strong and efficient fleet has
been, wherever it came, a herald of peace, and it has
proved the fact that a mighty fleet not only does not
prevent the love of peace but is a guaranty of it.”
No one will deny an element of truth in the German
Admiral’s conclusions, if the navy problem is looked
upon from one point of view only—in what may be
called its social aspect in the broader sense. Certainly
such courtesy as has been
'
1 ■ +,'i •
by the

presence and hospitality of the foreign warships, dur­ draw an analogy from the Franco-Prussian War of
ing this week’s celebration, is a contribution to inter­ 1870, pointing out that no actual friction existed be­
national friendliness. People at large will think more forehand between France and Prussia, but that Bis­
kindly cf the English, German, French and Italian marck had simply made his preparations in the way
navies, and of the people and governments whom of an overwhelming military force and then had de­
those navies represent, than they did before this in­ liberately brought on war, and from that deduces the
teresting and friendly tribute. In an even greater conclusion that the same thing is going on in Germany
degree, it was said of the use to which war vessels were to-day—the navy instead of the army being the point
applied at the time of the Messina disaster, that a on which the ulterior purposes are based— it is not un­
powerful navy might in such ways be made distinctly fair to accept his statement of the case as the view
which a good many reasonable people must at this
an influence for international peace and good will.
But after all, it will hardly be contended that these moment entertain.
For ourselves, we need not say that we regard such
are the purposes for which navies are created. There
interpretation
of visible events as preposterous in the
was a time when the prevalent theory in regard to
extreme.
So
far
from Germany’s sudden increase in
naval armaments was that they constituted a species
naval
construction
having been brought about through
of national marine police; that their function was pro­
determination
to
build
a fighting force which could
tection of the coasts, and, in the case of a State like
crush
the
British
Navy,
it unquestionably resulted
England, protection of its own particular avenues of
from
the
fact
that
England
itself had begun to increase
commerce. This was ten or twenty years ago. While
its
own
naval
fighting
force
at a rate not heretofore
this view of a navy’s functions prevailed, there was no
imagined
necessary
or
possible.
In other words, an
such thing as a “naval craze,” no talk of a “naval
English
policy
forces
the
hand,
or
is
regarded as forc­
scare”, and none of the now familiar discussions of
ing
the
hand,
of
the
German
Government;
the Ger­
competitive naval construction or of the crushing burden
of naval expenditure. Those aspects of the case have mans build in a hurry their additional naval vessels;
appeared only after a very noteworthy change in the whereupon English opinion suddenly veers around, de­
general view of the navy’s functions. As to what claring that Germany is pursuing a policy dictated sim­
has brought about this altered view of things, there ply and solely by its determination to crush England.
are doubtless several causes. The exploits of the Could any process of reasoning be on its face much
Japanese Navy during the Manchurian War, and, in more absurd? But on the other hand, could any be
a less degree, the achievements of our own in the more dangerous? Let it be observed that this is a
Spanish War of 1908 had much, perhaps most, to do perpetual process—that each forward movement in
with the altering of the governmental point of view. the pace of annual construction by one government
What is even more noticeable, however, is the still will lead to revival of these very suspicions and accu­
greater change which has come over popular discussion sations by the other, and to increased competitive
regarding the purposes of a navy during the past year construction by that rival also; after which, if the same
or two. We have had presented by an American process is to be pursued indefinitely, the government
writer, during the last few months, the distinct sug­ which made the first increase must now double its
gestion that if England is wise she will lose no time energies and expenditures. But, manifestly, to such
in picking a quarrel and attacking the German Navy a vicious circle there is no end whatever, and so far
before that navy becomes too powerful, and we have from naval armaments built under the influence of so
had something not altogether unlike a theoretical hysterical a state of mind being, as Admiral von
approval of that particular suggestion in certain Koester suggests, a guaranty of peace, they become
English publications. That Germany herself has more and more in themselves a provocative of war.
At such a stage in the discussion, the question is al­
dimly entertained a notion of this sort may be judged
from the fact that precisely such an attack, for pre­ ways asked, What is to be done about it? I he answer
cisely such motives, was the groundwork of the which British statesmen seem at the moment to be
recent widely-circulated German brochure depicting giving is that nothing can be done; that the nations as a
prophetically the circumstances of the next great war whole are in a hopeless scrape. This, from our point
of view, is at least peculiar statesmanship. Let on
between England and Germany.
We shall not pause to discuss, from the standpoint imagine for the moment such reasoning and such con
of humanity or of common international decency, elusions applied to any other of the many vexatious
such suggestions as these, and we certainly do not problems which arise in international diplomacy, and
imagine that the ideas have ever been seriously he will see how supremely absurd the conclusion is,
entertained by responsible statesmen, in England or and to what a state of chaos it would bring the whole
anywhere else. What we are now examining is the diplomatic situation. There is a way out from this
question whether such loose and dangerous talk is or so-called hopeless dilemma, as there is out of every such
is not encouraged by the existing craze for naval puzzle of international politics, and it is no less mani­
armaments. Much has been made in the newspapers fest an avenue of escape because of the glaring absurd­
this week of an interview given at Chicago by Lord ity of the existing situation. Construction of naval
Northcliffe, outlining his own expectations of European armaments by the rival States must in the end, with­
war and asserting the necessity for larger and larger out a shadow of doubt, be limited and apportioned by
naval armaments. Lord Northcliffe is not an authority international agreement. That such a proposition
of the greatest weight, but his influence through the has been seriously canvassed at international confer­
numerous newspaper properties owned by him in ences is itself a sufficient guaranty that it is not be­
London and his presumable capacity for reflecting yond the pale of serious deliberation.
Our own belief in this solution of the matter arises
what exists in the public mind make his utterances
from
our conviction that no other avenue of escape
W *rtf» considering.
When, therefore, he proceeds to



exists and that neither the governments nor their
tax-paying subjects are likely long to endure the exist­
ing state of things. The time, we are convinced,
is not far distant when the people, under the pressure
of intolerable taxation, against which the rich tax­
payer and the poor have alike revolted publicly this
year, will take a hand in stopping this diplomatic in­
sanity. They, at any rate, know what the naval craze
means to their own pockets. A war in which the ar­
mament of one State should be annihilated would no
more solve their problems than the all-around doubling
or trebling of the rate of annual expenditure in peace;
the tax-payer even then would be summoned to foot
the bills for the cost of war, for the war indemnity and
for the reconstruction of the navy. The question is
one which can be settled only by the plainest exercise
of common sense, and the present conspicuous absence
of that quality in the remarks of statesmen on the
situation cannot be indefinitely continued.

loss has been regained. After having dropped from
$66,173,517 in 1907 to $61,848,638 in 1908, aggregate
freight revenues have now got back to $64,212,638,
leaving them about $2,000,000 below the best previous
figures. The number of tons of freight handled during
1909, however, exceeded even that of 1907. In other
words, aggregate freight tonnage, after having de­
creased from 16,979,395 tons in 1907 to 16,610,912
tons in 1908, in 1909 got up to 17,220,597 tons. The
tonnage movement one mile, on the other hand, was
reduced in 1909, notwithstanding the larger volume
of business handled. This obviously shows gain in
the local or short-haul traffic; confirmation of the
premise is found in a further decrease in the average
length of haul after a decrease in the previous year.
The continued growth of the local traffic is, of course,
one of the most marked features of strength, indi­
cating, as it does, gratifying local development. The
truth is, the freight traffic of 1909 would have made
a very much better comparison except for the rela­
T H E A T C H I S O N ’S Q U I C K R E C O V E R Y .
tively poor results in the matter of the agricultural
During the years of great trade activity prior to the tonnage. In reviewing the results for the previous
panic of 1907 the striking feature in the affairs of the year we pointed out that the shrinkage of traffic in
Atchison Topeka & Santa Fe Railway Co. was the that period of twelve months had followed not alone
marvelous growth of its traffic and revenues, giving from business depression but also from the loss in
the company a position of income strength where it the agricultural tonnage. This agricultural tonnage
was surpassed by few other large railroad systems in the had fallen from 4,302,938 tons in 1907 to 3,800,574
United States. And now that the country is by degrees tons in 1908. If last season’s harvests had been a
getting away from the panic of 1907 an equally note­ full yield, this loss in the agricultural tonnage would
worthy feature in the Atchison’s affairs is the quick have been regained in 1909. As it is, only 174,059
recovery in its revenues from the losses sustained after tons of the previous year’s loss of 502,364 tons was
the panic, raising aggregate income to the highest made up, the tonnage in the products of agriculture
point in the company’s history. Obviously such a rising from 3,800,574 tons to 3,974,633 tons.
result argues great recuperative powers, both on the
On the other hand, there was a marked growth in
part of the property itself and of the industries and the general and miscellaneous traffic—in merchandise,
population tributary to the lines of the system, and manufactures, &c. In fact, there was a decided in­
it also is proof of the wise policy pursued in the con­ crease under all the leading heads except minerals.
duct and administration of the road.
The significance of all this lies in the circumstance that
Tt should not escape notice that the Atchison’s gross it shows that the previous year’s loss in revenue has
earnings are fast approaching $100,000,000 per annum. been recovered in the absence of any distinct advantages
Doubtless in the new fiscal year they will exceed that as far as the crops are concerned. With a more pro­
figure. What the Inter-State Commerce Commission lific agricultural yield this class of traffic may be ex­
calls “gross operating revenues” were for the latest pected to show very marked improvement. Appar­
year $3,647,920 in excess of those of the previous ently the company had the advantage of higher freight
year and only $77,590 less than those of the banner rates, the average per ton per mile for 1909 having
year ending June 30 1907 as revised. Total operating been 10.26 mills against 9.87 mills. But this does
income was the very largest in the company’s history. not mean that the rates themselves were any higher.
Stated in brief, the total dropped from $95,100,668 in It merely signifies that there was a larger proportion
the fiscal year 1907 to $91,289,770 in 1908, and now of way or short-haul traffic. The grain tonnage would
for 1909 has got up to $95,424,091 for 1909. Thus the naturally have to be hauled long distances to market,
whole of the loss sustained in the aftermath of the panic and this grain tonnage was actually smaller in 1909
has been recovered. The result becomes the more than it had been in 1908, and very much smaller of
noteworthy when the details of the receipts are studied course than in 1907.
and the changes during the last three fiscal years
In the net earnings the aggregates compare better
noted.
even than in the case of the gross. These net earnings
In the first place, it should be observed that the had dropped from $32,656,658 in 1907 to $26,258,187
passenger revenues keep steadily expanding, indi­ in 1908; 1909 now sees them up to $33,966,072—the
cating continued prosperity on the part of the popu­ largest figure ever reached in the company’s history.
lation served by the lines of the system and doubtless The previous year operating conditions had been very
also continued growth in the population itself. Even unfavorable, making expenses unduly high. Duringthe
in the panic year passenger revenues recorded no late year, on the other hand, conditions improved.
contraction; instead they rose from $21,171,629 to We should judge that with railroad labor no longer in
$21,643,427. Now for 1909 they have risen still under supply it must have been possible to hold the
further to $22,734,505, reflecting noteworthy expan­ railroad hands to a more rigid accountability and make
sion. In the freight revenues the experience of the each man do his full duty. The operating offi­
Atchison has been much like that of other large West­ cials, on their part, no longer burdened with
ern systems; that is, only a part of the previous year’s a volume of traffic which overtaxed the facilities




of the lines, would heave opportunity for developing full about 500 miles. This will supply the needs of a vast
efficiency in operations. We notice that President territory which has been heretofore isolated and which
Ripley also says that, owing to the liberal expenditures will be enormously benefited by the investment. In
made on the property, it has been possible to effect taking this action the directors, he states, are relying
large reductions in operating cost without allowing on the ultimate good sense of the people of Texas.
In Oklahoma, however, a different policy is to be
the road or equipment to deteriorate in the least.
pursued.
President Ripley says it was the intention
He says the condition of the system as a machine
to
extend
the
Texas & Gulf to the Red River and through
capable of turning out large quantities of transpor­
Oklahoma
to
a connection with the existing lines of the
tation has steadily improved.
Atchison
in
that
State, but that plan, he declares,
Under the previous year’s contraction in earnings
cannot
be
carried
out at this time because such rail­
the company had suffered a shrinkage in the net in­
road
construction
in
the State of Oklahoma is rendered
come available, over and above fixed charges, to an
impossible
by
the
present
laws of that State.
extent that would have endangered the continuance
With
such
a
large
amount
of work mapped out for
of dividends in the case of most large companies and
would have done so in the Atchison case except that the future the company is manifestly in need of ample
it had such a tremendous margin of income to en­ cash resources. There is also need, obviously, for
croach upon. The only effect of the great loss then provision for raising new supplies of cash. Both
sustained was that the company was obliged to forego requirements are in evidence. The balance sheet for
the enormous contributions out of income for improve­ June 30 1909 shows the company then had no less
ments which it had made in the previous year. In than $30,036,504 of cash on hand. We have seen
brief, as against $21,168,723 available on the year’s that the company had a large surplus left over out of
operation over and above fixed charges in 1907 the earnings on the year’s operations. In addition $17,­
similar amount available in 1908 was only $13,678,886. 000,000 of trans-continental Short Line first mortgage
Hence, instead of a contribution of $9,600,000 out of 4% bonds were put out during the year. Notwith­
income for improvements as in 1907, the contribution standing the issuance of these new bonds the funded
for 1908 was reduced to the nominal sum of $340,331. debt of the company was decreased during the twelve
In 1909, on the other hand, the balance above charges months in amount of $4,235,600. This was due to
on the operations of the year reached $20,417,990 the fact that very large amounts of convertible bonds
(against the $13,678,886 for 1908), and hence the were exchanged into stock because of the rise in the
policy of applying large amounts out of earnings for market value of the shares and the growing prosperity
improvements was renewed. The management set of the company. Besides the $30,036,504 of cash
aside no less than $9,000,000 for additions and better­ held on June 30 1909 the company also at that date
ments. Of this sum $4,000,000 was expended during had $3,765,000 of its general mortgage bonds unsold.
the year and $5,000,000 has been reserved for future But it being evident that further large sums will be
expenditures. Even after taking out the $9,000,000 required for the extensions and improvements con­
referred to, a surplus remains for the year of $398,520 templated in the near future, shareholders have been
above charges and over and above the 5% div­ given the right since the close of the fiscal year to sub­
idends on both classes of stock. It gives an idea of scribe for a new issue of convertible bonds. Actually
the policy pursued in the management of this property $28,258,000 of the new bonds have been subscribed
that while the amount paid in dividends was $10,861,­ and delivered. Thus full provision has been made for
240, the sum set aside for improvements at $9,000,000 the company’s new capital needs for the immediate
future.
was nearly as large.
It appears from the report that new construction
E X T E N D IN G R A T E R E G U L A T IO N TO FIRE
work, which following the panic of 1907 had been
IN SU R A N C E .
almost abandoned, is now again to be resumed.
Up
to
a
few
years
ago railroads were left free to
The reason for the stoppage of work was not so much
make
their
own
rates
(with
occasional exceptions), the
the loss in earnings as it was the hostile attitude
law
confining
itself
mainly
to
attempting to secure like
assumed by the public against railroads in general.
terms
to
all
persons
for
like
service; then suddenly
President Ripley now announces that, in the hope
came
the
demand
for
reduced
passenger fares, which
that public opinion, which has been changing, will
has
run
its
course
among
the
States
and seems to have
become completely modified, construction work is to be
spent
itself.
Similarly,
insurance
companies
had been
resumed. He says that the State most in need of
free
to
make
their
own
rates
while
hampered
in many
development is Texas, and with but one exception its
minor
things.
An
attempt
to
set
up
a
board
of arbi­
laws and the administration thereof have been the
tration
upon
rates
had
appeared
several
times
in
most severe and unjust. But in the last two years
Connecticut,
and
even
in
Massachusetts
a
like
thing
there has been a marked change in sentiment.
There are still laws affecting railroads on the statute had been proposed; but this year the threatened en­
books of Texas, he says, which are not good for either croachment has actually begun.
Kansas took the lead and apparently supplied the
the State or the railroads, but it is hoped that these
model.
Her law, which took effect June 1, required
laws will gradually disappear as their unfairness and
every
fire
insurance company to file with the State
injurious character become increasingly apparent.
Commissioner
basis schedules showing rates “on all
Acting on this hope, and in view of the crying needs
classes”
of
insurable
risks and all charges or conditions
of West Texas, the directors, it is stated, have au­
affecting
such
rates.
No change can be made in these
thorized the expenditure necessary to construct a
schedules
when
filed
except
on ten days’ notice, which
main line connecting the Gulf Colorado & Santa Fe
notice
shall
state
the
proposed
changes and the date for
Ry. at Coleman with the Eastern Railway of New
going
into
effect;
but
the
Commissioner
may allow
Mexico at Texico, with sundry branches—a total of




changes in less than the prescribed ten days. No
company may insure any property in Kansas unless
the rates schedule has been filed, or write at any rate
different from the one filed, or allow to any person any
rebate or advantage; in case of property as to which no
rate has been filed, a company may write a policy but
must fde with the Commissioner, within thirty days,
after such form as he prescribes, a statement setting
forth the rate on such property, its description, and
such other information as he may require; this state­
ment shall follow the regular schedule form, and when
filed shall constitute “the local tariff rates for said
company.” All schedules shall be open to public in­
spection, and each agent shall keep copies for public
display. When the Commissioner “shall determine
that any rate made by an insurance company in this
State is excessive or unreasonably high, or that said
rate is not adequate to the safety or soundness of the
company granting the same, he is authorized to direct
said company to publish and file a lower or a higher
rate, which shall be commensurate with the character
of the risk, but in every case the rate shall be reasona­
ble.”
When the Superintendent wishes to make any order
he must give the company concerned an opportunity
to appear and be heard. Any dissatisfied party may
bring the Commissioner before any district court,
which may try the issue “as in other cases of a civil
nature,” and may vacate his order.
Texas followed by creating a Rating Board, to con­
sist of the Commissioner, a second man appointed by
the Governor, and a practical underwriter, to be
named by a majority of the companies doing business
in the State, if they could agree upon one within ten
days. Not later than the close of this year, each com­
pany is to file rate schedules, open to public inspection,
and not to be changed except on thirty days’ notice,
unless in special cases. These rates shall be conclu­
sive; no company may write on property not covered,
or may depart from the published rate, or grant any
concession. The three arbitrators may put rates up,
if deemed too low for safety, or may direct publica­
tion of a lower rate, if deemed too high. In general,
the provisions follow the Kansas model; but an addi­
tional paragraph gives the arbitrators specific power to
alter the published schedules, with a proviso that any
company may reduce its rates to match any lower
ones established by the board, but said board “shall
never make a higher rate than the schedule published
by said companies.”
Missouri’s new law gravely authorizes any citizen
in making or publishing estimates of rates to obtain
information from any source available. In terms,
this is broad and innocuous, applying to any person;
the intent is to apply only to citizens who make a
business of the work of rating bureaus. But on writ­
ten complaint filed with him in respect to any rate,
the Commissioner of Insurance may investigate, and
if he finds the rate too high he is to order the associated
agents to publish a new one, after which the agents
whose associating is authorized must not agree upon
any other rate.
The motive underlying these laws is plain. The
Texas State association of local agents frankly de­
clared that they prepared and pushed through the
law there, for the purpose of ending discriminations
and guaranteeing uniform treatment to everybody;




not one of the 140 companies operating in Texas, they
said, ever heard of the bill in advance or was ever
consulted about it. They were frank as to their ex­
pectations, also. Competition is assured (they said)
through the greed of the companies for business and
the provision preventing the board from raising any
company’s rate, “thereby making the lowest rate gov­

ern, and all companies must meet that rate or cease
writing .” In Kansas, while the ostensible reason for
the law was to enforce the square deal and uniformity,
there has been grumbling because it has not imme­
diately produced the expected reductions. Gov.
Stubbs himself wrote to Commissioner Barnes to say
that, on the contrary, rates are being raised all over
the State, and he wished to know what that officer
proposed to do “to protect the people.” The equaliza­
tion expected was evidently equalization downward,
the minimum which any insurer said he would take
being made the maximum which any insurer could get.
Then Commissioner Barnes suddenly yielded to
pressure and, without the prescribed notice and hear­
ing, ordered a reduction of 12% after Sept. 1, save a
few excepted risks which include what are known as
“special hazards.” A special meeting of company
managers was held in Chicago on Aug. 28 to consider
the situation, and Mr. Barnes had a personal meeting
with a number of them on Sept. 15; but thus far they
have not been able to agree whether to take the sub­
ject to the courts, merely appointing a committee
to look up the legal points involved.
Following this example by still other States in the
West and South is entirely probable, and one propo­
sition already made is that the loss experience in each
State by itself for a term of years should be the rule
for determining rates. In Arkansas a county prose­
cuting officer has begun an anti-trust action against
65 companies, demanding penalties amounting to a
million from each one, and he has been outdone by a
law officer in Mississippi who has entered similar suits
against 27 companies, demanding maximum penalties
reported to aggregate 250 millions. Upon such wild
work as this the reader can be left to make his own
comment.
While these proceedings have been going on, fire­
underwriting in the State of Indiana came to a sudden
temporary halt by the action of the State AttorneyGeneral in filing a suit against many companies
to prevent combinations for maintaining rates, under
a joint agreement known as the Dean schedule; a
restraining order prevented renewal of many expiring
policies which h ad . been written on that schedule,
and so things came to a halt until a court ruling
could be obtained. He lately sought, unsuccessfully,
to have several insurance and inspection “bureaus”
declared in contempt of court, and the situation at
this date of writing is still unsettled. A demurrer,
holding that the action cannot be maintained because
Indiana has no anti-trust law and the common law is
not applicable to such cases, has just been taken under
consideration by the Court in Indianapolis, and a hear­
ing on the contempt procedure has been set for Oct. 9.
We must explain here that for many years, in
many States, an “anti-compact” fight has been
going on, and laws have been passed to prevent the
companies from agreeing on any common schedule,
upon the wholly-mistaken theory that agreement
means high rates and that those will be kept down if

the companies can only be prevented from comparing
notes and using any common material. The singular
feature is that while some States are still trying to
keep the companies apart, two or three others have
dropped that and are trying to force them together,
thus making compulsory what is still forbidden
elsewhere. Even in Kansas, the anti-trust and
anti-compact litigation begun by the State’s AttorneyGeneral last year is still undisposed of and that
official refuses to drop it. Two opposite courses,
aimed at the same result, are thus going on.
The aim of the entire agitation is coercion of the
companies in respect to rates. It has been said, in
order to illustrate the principle of the business, that
insurance is practically a tax and the underwriters
merely assess and collect it. An apologist for the
Kansas law hit upon this old illustration and actually
said that inasmuch as insurance premiums, by the
companies’ own admission, are “a tax,” it is certainly
right for the States to have something to say about
levying it.
A totally false analogy between insurance and
common carriers has been assumed. The likeness
between the Kansas movement and the terms of the
law, on one hand, and the Inter-State Commerce
Commission and its law on the other, is very noticeable.
This likeness and the false analogy are shown very
strikingly in a recent decision of the Court of Errors
and Appeals of New Jersey. The Newark Fire
Insurance Exchange was formed several years ago,
as a movement for exchanging information and
securing approximate uniformity of rates in Newark
and in Hudson County. It was immediately assailed,
in the customary manner, as being a compact. The
case has dragged along, but lately that Court issued
an injunction against some 121 companies, holding
the Exchange an illegal combination in restraint of
trade. Said Justice Garretson:
“If a corporation, engaged in a business that is
affected with a public interest, contracts to enter
upon a line of conduct in respect to such business
that tends to affect such public interest injuriously
and is contrary to public policy, such contract is
ultra vires and such corporations may be restrained in
equity at the suit of the Attorney-General, without
regard to whether or not actual injury has resulted
to the public.”
Here we have an echo of the Northern Securities
case, in almost the language then used, declaring that
the law does not discriminate between doing wrong or
intending to do wrong and the possession of ability to
do it. A minority opinion has well set forth the
other view, and the evidence showed decline rather
than advance in the local rates since the Exchange
was organized. A confusion appears between the
“public service” by carriers, such as this State is now
professing to regulate, and the “public interest”
which attaches to every moral and useful business;
for it is plain that if all business “affected with a
public interest” is to be regulated by statute, the
regulation cannot consistently omit anything.
There were two assumptions in this case, both
apparently unsound: one, that the compact actually
was in restraint of trade; the other, that “control”
within the area resulted. “The business of fire
insurance (said Justice Garretson) as it is carried on
in this State by corporations created, licensed and
regulated by the State, is a business affected with a




public interest,” &c. The licensing and regulating,
then, stand upon the assumed “public interest;” the
public interest, in turn, is proven to exist by the fact
of licensing and regulating. An excellent example
of arguing in a circle, one would say.
So, as we pointed out above, the latest attempt
towards lower rates is to construct a schedule, subject
to review and change by a State functionary, and
practically compel all companies to use it; this aims
at uniformity. Meanwhile, the former process of
preventing uniformity and agreement is still going
on generally. It is an attempt to definitely substitute
coercion for competition, notwithstanding insurance
does not contain one element of possible monopoly,
but is absolutely open to competition by all the free
capital of the world. Dissatisfied persons who really
believe rates too high have only to organize themselves,
under general laws, into new companies and put the
issue to test.
Such is the situation to which some years of increas­
ing indulgence in indiscriminating attack upon corpor­
ations have brought us. Commissioner Hardison of
Massachusetts, in his annual report lately submitted,
devotes several pages to the subject, arguing that
rate-making by States opens a way to rates which
may sap the companies’ ability to bear the sudden
blow of conflagrations. But there are reasons for
believing that this course of general attack has reached
its climax and has even begun recession; if not so, it is
certain that recession cannot delay much longer. As
for underwriting in particular, any attempt to seriously
enforce this denial of fundamental business rights
tends straight to formal insurance by the States
themselves, which ought to undertake that entire
function if they persist in making all the terms.

TH E LEH IG H V A L L E Y RE PO R T.

Conditions with the anthracite coal carriers were
not favorable during the year ending June 30 1909,
and that fact is reflected in the annual report of the
Lehigh Valley Railroad, submitted the present week.
Aside from the falling off in the merchandise traffic
due to business depression, the anthracite trade suf­
fered from causes peculiar to itself—that is, from mild
winter weather and labor complications. Altogether
the lot of the managers of these properties was not
an enviable one.
Aggregate gross earnings of the Lehigh Valley com­
pany, as compared with the year preceding, fell off
$2,372,322. Expenses were very materially reduced,
but not in sufficient amount to offset this loss, and
consequently net earnings for 1909 were only $12,562,­
095, against $13,198,117 for 1908. Coal revenues
fell off $1,343,609, or 8.31%, and the merchandise
revenues $719,471, or 5%. By cutting down the
contributions out of earnings for additions and better­
ments—that is, by-applying only $582,643 in that way,
against $1,775,264 in the previous year—the balance
remaining above fixed charges was brought quite close
to that remaining on the results of the previous year’s
operations; that is, was $5,261,160, against $5,595,310.
Lehigh Valley stock is small, and it takes only about
2 V2 million dollars to pay the 6% dividends. This, it
will be seen, is only about half the $5,261,160 balance
of income for the twelve months, so the showing on
the whole is not a bad one.

• If the anthracite managers were left free to work out “The expense of employing counsel to defend the com­
the salvation of their properties—if they were not con­ pany in the many suits brought by national and State
stantly hampered and harassed through the inter­ bodies and others, as well as the necessity of legal
ference of Government, State and National—there advice on matters growing out of recent enactments,
would be no occasion for complaint or fault-finding. was very heavy, having increased materially during
The heads of these properties are all able men and the last year. The increase in legal expenses alone
could be depended upon to meet requirements in more than accounts for the total increase shown above,
thoroughgoing fashion and to the advantage of all the other items included under this heading ^having
concerned. The way they would do it—the way they decreased as compared with the previous year.” Con­
are now striving to do it—is shown on the one hand cerning an increase in the traffic expenses, it is stated
by the progress achieved in creating a greater diversi­ that the added cost of filing tariffs as required by
fication of traffic so that the roads shall not be so ex­ various laws more than offsets the reduction made’in
clusively dependent upon the anthracite traffic and other expenses under this heading.
on the other hand by the constant efforts making to
President Thomas also again takes occasion to criti­
secure increasing efficiency of operation. In the cize the rule of the Inter-State Commerce Commission
matter of diversification of traffic we may note that which obliges the railroads to make regular charges
the Lehigh Valley’s merchandise revenues are closely ap­ to maintenance account for depreciation of equipment.
proaching the coal revenues, the comparison for the He says that compliance for another year with this
latest year being $13,291,831, against $14,831,671. order, prescribing these monthly charges to depre­
As to what has been accomplished in the way of effi­ ciation of equipment, with the result of leaving a bal­
ciency of operations, it is only needful to say that ance of SI ,382,511 at the close of the year, notwith­
during the twelve months under review there was a standing replacements charged thereto, has]; further
further increase in the train-load, bringing the average convinced the management of the utter impractica
up to 535 tons. Including freight carried for the com­ bility of such a system. Basing, as it does, charges
pany’s own use, the average was 553 tons. Looking upon theory and not upon facts—charges which are
back eleven years, to 1898, we find that the average as great when equipment is idle as when in constant
train-load then was only 384 tons.
service—it produces, he says, confusion in arrivingrat
Such methods and results would be sufficient to the actual cost of operation. He expresses the hope
overcome all natural obstacles, assuring continued that the Commission will, at an early date, modify its
prosperity to the roads, but when other drawbacks order in that respect.
and burdens are added through legislative and political
In these circumstances it is perhaps not];surprising
activity and through demagogic attempts to excite that the report should express gratification'that the
public hostility to the anthracite roads, the case takes past year “ has witnessed no additional violentl'or
on a different aspect and the problem becomes a much radical legislation affecting railroads, either, by Con­
more difficult one. It is generally assumed that profits gress or the various States in which the company’s
from the mining and shipping of anthracite coal are property is located.” Mr .Thomas also notes that
inordinately large. The fact that prices of the do­ there is some revival in business activity, which, if
mestic sizes are larger than they were a dozen or more unhampered by adverse legislation, should result in a
years ago, when cut-throat competition prevailed, speed)'' return to normal prosperity.
has served no doubt to encourage the notion. Under
The report points out that the year’s business of
these circumstances it is encouraging to find that atten­ the Lehigh Valley was conducted without any fatalities
tion is being directed to the fact that the cost of occurring to the 4,876,801 passengers carried, and also
producing anthracite is steadily rising. The Lehigh that the number of accidents to employees shows a
Valley Coal Co. this time makes a report separate and very gratifying decrease as compared with the previous
distinct from the Lehigh Valley Railroad Co., and twelve months. The result, however, cannot be
we note that President E. B. Thomas says that “the attributed to the regulations by the various railroad
cost of producing coal is each year showing a serious commissions for conducting the business of common
increase, owing to the gradual exhaustion of the carriers, nor even, it seems, to the application of any
thicker and more cheaply mined veins near the sur­ of the safety-appliance laws. Mr. Thomas says the
face, making it necessary to work thinner veins at improvement must be ascribed rather to the oppor­
greater depths and longer distances from the openings. tunity to secure and maintain greater efficiency among
This increases the cost of the underground operations the company’s employees by reason of the large num­
and of pumping and ventilating, which latter are con­ ber of men seeking work and the desire of those already
tinuing items of expense, as great when the mines employed to retain their positions, as well as to the
are idle as when in operation.” While on this point relaxation of the strain under which their duties were
it will be well enough to recall that in reviewing the performed during the previous few years, when the
annual report of the Reading Company last week we volume of business was exceptionally heavy.
found that the cost of the coal mined and purchased
during 1908-09 had been 7.6 cents per ton higher than
PROGRESS M A K IN G IN E N L A R G IN G SO U T H
in the previous year, while the price realized was only
A M E R I C A ’S C E R E A L P R O D U C T I O N .
0.9 of a cent higher per ton, leaving a decrease in the
Very naturally Bolivia’s most pressing need to aid
net amount realized of 6.7 cents per ton.
in the development of the resources of the country is
We get an idea of some of the other troubles with railway extensions. This need, according to the
which the anthracite roads, in common with the rail­ September issue of the “Bulletin of the International
roads generally, are beset in the explanation which Mr. Union of American Republics,” was recognized prior
Thomas makes with reference to the increase of $71,­ to the war with Chile in 1879.- In fact, as early as
824, or 11.26%, in the “ general” expenses. He says: June 1863 the National Assembly authorized the Prem-




dent to enter into contracts for building railways, and Real, rising in some instances to a height of over 21,000
five years later a concession was granted to a citizen feet; but to the north, east and south of that range
of the United States to build a line from Cobiji to the land falls away to the Amazon and Parana plains.
Potosi, a distance of over 300 miles. The concession This country is stated by the Bulletin to cover threenot only carried a Government guaranty of 7% on the fourths of the area of Bolivia, is little settled, but in
capital invested, blit also a grant of land one league natural resources and soil is one of the richest parts
on each side of the line. A number of other conces­ of the world. Moreover, it could sustain an agricul­
sions were made in years down to 1879, but with little tural population greater than the whole present popu­
result, for in 1904, after 40 years of effort to induce lation of South America. It is a portion of this terri­
railway building,‘all that had been accomplished were tory that the roads built and to be built will open to
the Guaqui and Antofagasta roads—a total mileage more general settlement and cultivation.
of 627.
The meagre character of this result becomes more
striking when the inducements the Government ITEMS ABOUT BANKS, BANKERS AND TRUST CO.’S.
—The public sales of bank stocks this week aggregate 194
offered to attract capital are noted. Perhaps nowhere
shares, of which 51 shares were sold at the Stock Exchange
else in the world have they been so liberal. The offers and 143 shares at auction. The transactions in trust com­
of land, mines, exemptions from taxation and customs pany stocks reach a total of 90 shares. A sale of 15 shares
duties, Government guaranties, financial aid and ex­ of stock of the New York Trust Co. was made at G75, an
clusive privileges were all among the inducements advance of 102 points over the price paid at the last previous
public sale, which was made in May. The table below,
held out to secure the end sought. But unfortunately given in our usual form, shows the actual sales of New York
Bolivia, in its eagerness to secure results, granted these City bank stocks made during the week at auction and at
concessions to and made these early contracts with the Stock Exchange. Extensive tables showing the bid and
irresponsible parties, often to mere adventurers without asked quotations, deposits, surplus, &c., of banks and trust
capital or influence. The disputes arising between companies in all important cities of the United States arc
Bolivia and Chili as a result of the war of 1879-1884 published monthly in the “Bank and Quotation” Section, the
October issue of which accompanies to-day’s “Chronicle.”
for a time were a hindrance to development of the Bid and asked quotations for all New York City bank and
former country; but on Oct. 20 1904 a treaty of peace trust company stocks are also published weekly in another
and friendship was signed which, besides ending all department of the paper, and will be found to-day on pages
disputes between those countries, secured to Bolivia 825 and 826.
BA N K S-V rai Y o rk .
L o w . U ta h . C lose. L a st p revio u s sale.
a number of concessions. The third article of the Sx hl 6a res.
F o u r t h N a t io n a l B a n k ............. 2 4 0
2 4 0 Y» 2 4 0
S e p t . 1901)— 2 2 9
treaty provided for the building of a number of lines * 4 5 C o m m e r c e , N a t . B a n k o f ___ 1 9 0 5-4 198 197 S e p t . 1 9 0 9 — 198
3 I m p o r t e r s ’ & T r a d e r s ’ N a t . B k . 5 4 7 54 5 4 7 H 5 4 7 54 S e p t . 1 9 0 9 — 5 4 5 54
of railways within the succeeding thirty years, on 3 2 M a n h a t ta n C o ., B a n k o f . . . . .
3 3 0 54
3 3 0 54
3 3 0 54M a y
25 Mechanics’ National Bank _ 2 5 9 54 2 5 9 54 2 5 9 54 .June 1 9 0 9 —2G1
which Chili engaged to pay interest up to 5% on the 2 5 Mercantile National Bank _ 1 7 2 54 172 54 172 54 Sept. 1 9 0 0 — 1 8 0
capital invested, provided such expenditure should 4 8 P a r k B a n k , N a t i o n a l .............. . 4 5 5 54 4 5 5 5 4 4 5 5 5 4 S e p t . 1 9 0 9 — 4 7 0 54
T R U S T C O M P A N I E S — X e w Y o rk .
not aggregate more than £ 100,000 sterling a year, or 50 E q u it a b le T r u s t C o .................... . . 4 7 4 54 4 7 5 4 7 5 M a y 1 9 0 0 — 4 0 4
400
£1,700,000 in all. Following the ratification of the 10 F ift h A v e n u e T r u s t C o --------- . . 3 0 5 3 9 5 3 9 5 J u n e 11 98 00 99 —
— 57*
075
M ay
075
15 N e w Y o r k T r u s t C o ------------- . . 0 7 5
treaty a contract was entered into with the National 1 5 T r u s t C o . o f A m e r ic a ____ _ . . 3 5 0 3 5 0 3 5 0 S e p t . 1 9 0 9 — 3 5 1
* S o ld a t t h e S t o c k E x c h a n g e ,
x O f t h is a m o u n t 8 s h a r e s w e r o s o ld a t
City Bank and Speyer & Co. of New York, and, after
certain changes had been made, was finally approved t h e S t o c k E x c h a n g e .
—Business and financial circles hare been agog with
and signed Dec. I 1908. Under this contract the holiday excitement during the past week growing out of the
parties named obliged themselves to construct within Hudson-Fulton celebration. Tn the neighborhood of Wall
a period of ten years systems of railway approximating Street and lower down-town the streets have been crowded
721 miles in all, the cost of construction being estimated with residents and out-of-town visitors to see the decorations
of the financial district and the places of interest in this, the
at £5,500,000 sterling.
oldest locality of the Dutch settlements. Throughout the
Of the lines contracted to be built, that from Viacha week there have been many absentees from banking offices
to Oruro (138 miles in length) has been completed, and financial institutions, customers and employees, either as
giving (through connection with the Antofagasta By. participants or spectators, attending the historical parade
at the last-named city) a line from La Paz to the Pacific and pageant Tuesday, the military parade Thursday and the
other events following in quick succession every day. Not­
seaboard. There remains to be constructed a total
withstanding the interest in both the public and private
of 583 miles, including a branch from Uyuni to Tupiza, functions on the program, Stock Exchange business was
where connection is to be made with the Northern lively every day and of large volume, and mercantile business
Central Ry. of Argentina, now building. This con­ all over the city was carried on as usual without hindrance.
nection will give a through line from La Paz to Buenos The distinguishing feature of the entire celebration, which
Ayres. The lines already completed will be operated will linger longest in memory, are the wonderful illuminations
secu this week on land and water. Far eclipsing the naval
by the Antofagasta Ry. Co. under lease from the parade of merchant vessels last Saturday afternson was
Bolivia Ry. Co., under whose auspices construction the illumination of the fleet and harbor, when at night the
is being carried on. The point of chief public interest rigging, funnels, hulls and water line of the warships and
is that the operation of the through line and its various the proportions of the river bridges surrounding Manhattan
feeders will open up valuable agricultural sections Island were delicately outlined with incandescent lights. No
finer picture out-of-doors can be imagined than the sight
to close intercourse with the world’s markets.
of lower Manhattan’s high “sky-scrapers” blazing forth light
The settled portion of Bolivia is the high table land. from every window with the lighted tower of the Singer
One of the most spacious and elevated plateaus in the Building rising above all and the electric reproduction of the
world, that lies between the Western and Eastern “ Half Moon” reflected on Colgate & Co.’s building on the
Andes. This table land extends from about the Ar­ opposite side of the Hudson River at Jersey City.
From the size of the evening crowds promenading Fifth
gentine border in the south into Peru on the north­ Avenue it is the electric illuminations which afford them
west, and is from 60 to 150 miles in width. To the the most pleasure. Thousands have viewed the chain
east of the table land lies the High Andes, or Cordillera of incandoscont lights suspended on both sides of I'iftli



1 9 0 9 — 334

Avenue extending from Washington Arch past the Court
of Honor at 42d Street to 59th Street and up Central Park
West to 110th Street. The Arch, too, is perfectly defined
with lights and can be seen a long distance up Fifth Avenue.
The Fifth Avenue mansions of many of our wealthiest citizens
are deoorated with flags and lights and the churches with
flags. The big new Plaza Hotel is perhaps the most effec­
tively illuminated structure on Fifth Avenue. Elsewhere,
the Knickerbocker Hotel is outlined from roof to cellar, the
quaint gables of its roof suggesting the old-fashioned Dutch
architecture of long ago. The prow of the “ Half Moon” is
gracefully reproduced in lights over the Broadway entrance
of the new Astor Hotel on 44th Street. A Dutch wind-mill
and house is the day-time attraction over the 23d Street
corner of the “Flatiron” building and a nightly illumina­
tion; underneath on the street floor is displayed a tobacco
shop of the seventeenth century. The “ Metropolitan
Life’s” fifty-story tower is wondrously beautiful when illu­
minated at night and is one of the most imposing sights in
New York. rlh e “Court of Honor” and the official reviewing
stand on Fifth Avenue in front of the new marble edifice of
the New York Public Library, 40th to 42d Streets, will stand
as the orowning artistic achievement of the Commission’s
efforts. Fronting this grand stand on both sides of the
Avenue was erected a marble colonnade surmounted by gold
globes and decorated with laurel and colored electric lights
concealed between the overhead spaces and street crossing.
In the day-time, or illuminated at night, this open-air
scene with its distinguished company seating the Governor
of the State, his staff, the Admirals of the world’s navies,
ambassadors and dignitaries of foreign nations besides
other notable guests, made in the estimation of many, the
most animated land spectacle of the entire cole oration.
All over New York electricity has transfer n \1 the com­
monplaceness of the city’s buildings and streets into a
fairy city of fascinating beauty. The II t Ison-Fulton
Celebration Commission deserves to be congrat hated for the
comprehensive scope of the celebration but the general mass
of the public deserves commendation no less f >r ie spirit in
which it has entered into the affair, for without its co-opera­
tion the celebration could not have been a s iccess. The
replicas of the “ Half Moon” and the “Cler n >nt”, the
dedication of the Palisades Inter-State Park i i .'dew Jersey
and the Henry Hudson monument at Spuvten D iyvii; the
international banquet Wednesday night, vVright’s and
Curtiss’s airship flights, the exhibition of D itco art at the
Metropolitan Art Museum, and other events, arc all sure
to be of lasting and permanent value in the educational,
patriotic and artistic life of this city and nation. The cele­
bration practically ends in this city with the carnival parade
to-night but will be continued throughout the second
week, Oct. 3 to Oct. 9, at Poughkeepsie, Yonkers, Kingston,
Hastings, Dobbs Ferry, Irvington, Tarrytown, Catskill,
Nyack, Hudson, Ossining, Haverstraw, Peekskill, Cold
Spring, Cohoes, Troy and Albany. The battleship and
harbor illuminations of last Saturday night will be repeated
to-night.
—Because of the erroneous impression existing in some
quarters that the drawing of checks for less than SI would
be illegal under the new code, approved March 4 1909 and
effective Jan. 1 1910, the Treasury Department has caused
the issuance of a statement in which it seeks to set at rest
all question as fo the validity of checks of however small an
amount. The law in question was passed forty-seven years
ago, and attention is directed to it at the present time
through its re-enactment under the Revised Statutes. It
stipulates that:

Is n o c o n f lic t w it h t h is a n c ie n t la w In I s s u in g c h e c k s fo r a n y a m o u n t h o w e v e r
s m a ll.
T h l3 h a s b e e n t h e c o n s tr u c t io n p la c e d u p o n t h is la w b y t h e T r e a s ­
u r y D e p a r t m e n t fr o m t h e p a s s a g e o f t h e A c t in 1 8 6 2 d o w n t o t h e p r e s e n t
m o m e n t.

Another trust company President was nominated for
public office this week, when Robert R. Moore, President of
the Commercial Trust Co., Broadway and Forty-first Street,
was named as the Democratic candidate for Comptroller of
New York City. Last week Otto T. Bannard, President of
the New York Trust Co., was nominated by the Republican
party for Mayor. With presidential vacancies existing in
the Union Trust Co., the United States Mortgage & Trust
Co., the Guaranty Trust Co. and the Mercantile Trust Co.,
all New York companies, it is unfortunate that there should
be risk of adding to the number. Mr. Moore was President
of the old New Amsterdam National Bank from 1901 to
1900, when he resigned to be succeeded by Miles M. O’Brien.
Later Mr. Moore successfully established the Commercial
1 rust Co. in the same neighborhood. He was born in Cin­
cinnati fifty-one years ago, educated in the New York public
schools and at an early age entered the banking business at
the bottom and worked his way up, after a long apprentice­
ship with the Gallatin National Bank. His father, Robert J.
Moore, a large cotton operator and in the cotton business
here, is a former President of the Cotton Exchange. Robert
R. Moore is a member of the Chamber of Commerce and is
interested in many charities.
— Mr. Arthur Terry, Treasurer of the Title Guarantee A
Trust Co., 176 Broadway, has resigned his position to become
a general partner in the firm of Atwood, Violett & Co.,
members of the New York Stock Exchange. From 1899
to 1905 Mr. Terry was Secretary of the City Trust Co., which
was consolidated with the Trust Company of America a few
years ago. Campbell W. Steward also became a partner
in the same firm this week.

Supplementary to the very able and comprehensive
“ Historical Review of Banking in Chicago,” written by Mr.
Frederick W. Gookin for our “Bankers’ Convention” Section,
a few names may be added of bankers who have been con­
spicuous in the upbuilding of the city’s leading financial in­
stitutions. It n ay be desirable, too, to append a more de­
tailed schedule than was given in that article of the deposits,
loans and discounts and cash resources of both national and
State banks of Chicago at the time of the last call, Sept. 2.
Byron L. Smith, President of the Northern Trust Company
(which was organized in 1889), has been one of Chicago’s
most conservative and successful bankers. President Ernesl
A. Hamill and Vice-President Chas. L. Hutchinson of the
Corn Exchange National Bank (which in the last decade
has absorbed several other banks of high standing and large
business) have guided its affairs with signal ability, its latest
report showing resources of more than $71,000,000. John
C. Black, for many years President and since Chairman of
the board of directors of the Continental National Bank,
and George M. Reynolds, its present President, have proved
their worth by the remarkable progress of that great institu­
tion. three ex-Comptrollers of the Currency have achieved
marked success in Chicago banking: (1) Edward S. Lacey,
who as I resident of the Bankers’ National Bank was able,
in the course of 17 years, to turn over to the Commercial
National nearly $25,090,090 resources at the time of their
recent merger; (2) Charles G. Dawes, head of the Central
Trust Company of Illinois, and (3) the late James H. Eckels,
whose death occurred just as he thought to realize his fondest
hopes of seeing his bank, the Commercial National, housed
in its magnificent new building. James B. Forgan, President
of the First National Bank (the largest bank west of New York
N o p e r s o n s h a ll m a k e , I s su e , c ir c u la te o r p a y o u t a n y n o t e , c h e c k , m e m o ­
city
and third in resources in the United States), and his
r a n d u m , t o k e n o r o t h e r o b lig a t io n fo r a le s s s u m t h a n $ 1 , In tcn le d to c ir­
brother, David R. Forgan, President of the National City
c u la te a s m o n e y o r t o b e r e c e iv e d o r u s e d In lie u o f la w fu l m o n e y o f th e
U n it e d S t a t e s , a n d e v e r y p e r s o n s o o f fe n d in g s h a ll b e lin e d n o t m o r e t h a n
Bank of Chicago, rank very high among the city’s bankers.
* 5 0 0 o r Im p r is o n e d n o t m o re t h a n s ix m o n t h s , o r b o th .
And also upon this roll of honor must be mentioned such
The Treasury Department’s announcement in the matter is
practical and progressive bankers as President John A.
as follows:
Lynch and Vice-President W. T. Fenton of the National
I h ere Is a w id e s p r e a d b u t e n t ir e ly n e e d le s s c o n c e r n o n th e q u e s t io n o f
Bank of the Republic; S. R. Flynn, President of the Live
t h e l e g a lit y o f Is su in g a c h e c k fo r a n a m o u n t le s s t h a n 5 1 . T h e la w a b o u t
w h ic h t h is q u e s t io n w a s r a is e d w a s p a s s e d f o r t y - s e v e n y e a r s a g o a n d h a s
Stock Exchange National Bank, and several other smaller
b e e n In e ff e c t a n d e n fo r c e d e v e r s in c e . I n 1 8 6 2 , In o r d e r t o r a ise f u n d s fo r
affiliated institutions; the late H. A. Haugan, President ,and
w a r p u r p o s e s , t h is la w w a s p a s s e d p la c in g p o s t a g e s ta m p s In g e n e r a l c ir c u la ­
his associate for many years, John R. Lindgren, Vice-Presi­
t io n a s m o n e y .
I t w a s I m p o r t a n t t h a t t h is d e v ic e s h o u ld n o t be I n te r fe r e d
w it h b y I n d iv id u a ls Is su in g n o t e s o r c h e c k s t o b e u s e d a s f r a c t io n a l c u r r e n c y .
dent of the stalwart State Bank of Chicago, not to omit Mr.
A c la u s e w a s th e r e fo r e I n s e r te d In t h e la w to p r e v e n t t h is .
L. A. Goddard, the present President of that institution.
A b a n k c h e c k Is a n o r d e r o n a b a n k e r t o p a y a p a r tic u la r s u m o f n in ” o y .
t Is n o t d e s ig n e d t o b e p u t In c ir c u la tio n a s a s u b s t it u t e fo r m o n e y . T h e r e
Deposits, loans and discounts and cash resources of the




individual banks in Chicago on Sept. 2 are shown in the
following tables:
n a t io n a l

S e p te m b e r

l—

C o m m e r c i a l ......... ..................
C o n t i n e n t a l ---------------------C o rn E x c h a n g e . - ..............
N r o v e r s’ D e p o s it—
..
F ir s t N a t i o n a l ---------------F ir st o f E n g le w o o d -----F o r t D e a r b o r n _______ . .
H a m ilt o n -----------— ------L iv e S t o c k E x c h a n g e -------M o n r o e -------------------------N a t io n a l D a n k o f I te p u b lb
N a t io n a l C it y -------------------N a t io n a l P r o d u c e ---------- -P r a ir ie N a t io n a l--------

T otal

b a n k s

.

D ep o sits.

L oans ancl
D isco u n ts.

Cash
Resources.

$
6 7 ,2 7 1 ,7 7 8
7 7 ,0 8 5 ,0 0 8
6 2 ,5 8 6 ,3 0 4
6 ,5 3 1 ,2 2 6
1 1 7 ,7 3 6 ,4 8 8
2 ,6 6 1 ,9 0 4
1 2 ,8 9 5 ,6 1 4
7 ,4 6 1 ,2 6 1
9 ,0 1 5 ,3 1 3
1 ,1 1 3 ,4 0 8
2 1 ,0 9 8 ,6 7 5
1 4 ,3 0 9 ,3 6 4
1 ,5 5 1 ,3 8 0
1 ,4 8 4 ,3 6 2

$
4 0 ,1 4 4 ,1 2 2
4 8 ,2 5 5 ,3 4 4
4 1 ,0 4 7 ,8 8 2
4 ,2 2 3 ,8 5 7
7 5 ,6 3 4 ,4 5 6
1 ,6 8 4 ,8 3 5
8 ,4 1 2 ,9 1 8
4 ,7 0 1 ,9 7 8
0 ,7 3 9 ,6 4 9
7 8 3 ,3 7 3
1 5 ,6 4 8 ,8 3 3
0 ,4 4 7 .2 5 3
9 7 9 ,7 6 6
1 ,0 4 9 ,5 1 0

S
2 3 ,7 7 1 ,0 7 4
3 3 ,1 1 5 ,3 2 1
2 3 ,6 0 4 ,2 6 2
2 ,9 4 6 ,6 8 8
1 0 ,9 4 2 ,5 4 3
5 9 2 ,4 7 9
5 ,3 1 4 ,1 8 7
2 ,6 3 2 ,5 0 4
3 ,6 6 9 ,5 3 1
4 1 3 ,5 6 8
8 ,5 2 4 ,8 5 8
6 ,1 0 9 ,6 7 3
5 5 2 ,4 3 7
6 1 3 ,5 8 3

4 0 2 ,8 0 3 ,1 0 5 2 0 4 ,7 5 3 ,7 7 0

1 5 8 ,8 6 2 ,7 0 8

T R U S T C O M P A N IE S A N D S T A T E B A N K S .
Loans and
D isco u n ts.
D eposits.
Sep tem ber 2 —

A m e r ic a n T r u s t & S a v in g s . . . . - . A u s t in S t a t e -------------------------------- —
C e n tr a l T r u s t -------------------- -------------------C h ic a g o C it y --------------------- ---------------C h ic a g o S a v i n g s . ------------------------ —
-----C o lo n ia l T r u s t & S a v in g s
D r c x e l S t a t e -------------------------- -------------D r o v e r s ’ T r u s t & S a v i n g s ------------- - - ­
F ir s t T r u s t & S a v i n g s -----------------------F o r e m a n D r o s . B a n k in g ---------------H arris T r u s t & S a v i n g s .................. - - - - ­
H ib e r n ia n B a n k in g ......... --------- ................
I llin o is T r u s t & S a v i n g s . ........ ...........
Iv asp ar S t a t e ------------------------------ ------M e r c h a n ts ’ L o a n & T r u s t . . -------M e tr o p o lita n T r u s t & S a v i n g s ...........
N o r t h e r n T r u s t ---------------- . . .
N o r t h w e s t e r n T r u s t & S a v i n g s -----P e o p le ’s T r u s t & S a v i n g s -------- -.
P r a ir ie S t a t e — ---------- - - ­
P u llm a n T r u s t & S a v i n g s . . —
R a ilw a y E x c h a n g e -------- --------S e c u r it y . . ------------ . . .
------ - - S o u t h C h ic a g o S a v in g s . ......................S t a t e B a n k o f C h ic a g o .
S to c k Y ard S a v in g s —
-----U n io n B a n k
.
U n io n S t o c k Y a r d s S t a t e -------------------U n io n T r u s t ---------------------- • - ............. W e s te r n T r u s t & S a v in g s - - - - - - - - - ­
W e s t S id e T r u s t fc S a v i n g s ----------------

T otal

C ash
Resources.

$
1 9 ,8 1 2 ,0 7 0
9 8 8 ,5 2 7
1 0 .7 5 6 ,0 0 5
1 ,6 2 3 ,7 7 5
2 .5 9 4 ,6 4 2
3 ,4 4 8 ,8 4 4
2 ,2 9 7 ,4 8 4
1 ,4 7 2 ,8 6 7
1 7 ,1 0 6 ,5 0 0
6 ,4 5 5 ,2 7 5
4 ,5 5 1 ,7 0 1
1 5 ,1 9 0 ,5 2 4
5 4 ,7 1 1 ,6 1 9
2 ,2 0 7 ,7 4 7
3 1 ,3 3 7 ,0 4 6
3 ,3 4 1 ,7 5 7
1 1 ,2 8 8 ,8 3 8
1 ,0 8 0 ,5 8 7
1 ,1 7 0 ,7 4 2
1 ,2 0 0 ,9 6 6
2 ,1 5 7 ,0 4 7
5 7 0 ,3 3 8
1 ,8 1 9 ,3 4 0
1 ,2 2 2 ,6 7 7
1 6 ,0 5 8 ,7 0 3
1 .1 8 8 .0 9 0
8 5 3 ,4 5 2
7 9 2 ,4 0 6
7 .9 5 9 .0 9 0
6 ,8 2 6 ,0 1 4
1 ,7 5 3 ,6 8 6

5
1 3 ,0 0 7 ,0 7 7
3 6 6 ,8 3 0
5 ,0 3 2 ,0 7 0
6 4 5 ,1 0 6
1 ,0 5 2 ,7 7 1
1 ,2 7 6 ,9 2 2
6 4 6 ,4 1 4
3 1 5 ,0 1 4
1 0 ,6 6 1 ,0 4 6
3 ,0 4 1 ,7 3 2
5 ,5 7 9 ,0 1 5
4 ,3 0 3 ,9 0 3
2 5 ,1 8 2 ,8 4 0
5 6 3 ,4 5 0
2 6 ,2 6 7 ,4 5 8
9 3 1 ,6 5 5
1 1 ,2 5 0 ,3 7 7
3 9 9 ,1 2 9
2 3 2 ,5 0 2
1 ,3 1 7 ,6 8 0
7 2 1 ,4 8 9
2 5 4 ,3 9 3
4 4 1 ,7 2 6
2 4 7 ,5 3 2
5 ,5 4 8 ,1 4 6
3 4 3 ,0 1 2
1 6 3 ,6 0 0
2 1 1 ,7 6 0
3 ,0 6 4 ,9 7 9
1 ,9 8 8 ,5 1 3
4 1 3 ,5 9 5

1 0 1 ,2 0 7 ,2 4 2 2 3 7 ,2 0 4 ,3 3 8

1 2 6 ,3 7 1 ,7 0 6

S
3 4 ,1 9 7 ,5 8 3
1 ,2 5 0 ,7 0 0
1 8 ,8 5 0 ,8 0 4
1 ,8 9 7 ,7 5 3
4 ,2 0 2 ,2 6 8
4 ,1 1 1 ,4 4 0
2 ,7 8 0 ,5 5 8
2 ,0 7 2 ,1 3 8
4 3 ,0 4 5 ,1 5 2
8 ,1 5 3 ,0 6 4
1 2 ,4 6 8 ,9 5 6
2 2 ,0 7 9 ,0 0 2
8 6 ,8 4 0 ,8 7 5
2 ,7 4 5 ,5 6 3
5 7 ,6 9 2 ,2 1 6
3 , 9 4 1 ,5 8 0
2 9 ,4 4 5 ,1 8 8
1 ,7 2 9 ,1 6 5
1 ,1 7 6 ,2 6 7
6 ,5 4 3 ,1 6 3
3 ,4 8 4 ,3 5 3
0 3 9 ,5 2 4
2 ,3 0 3 .7 9 5
1 ,2 2 2 ,7 0 3
2 0 ,3 8 0 ,4 7 0
2 ,1 7 1 ,9 0 4
8 9 3 ,4 0 3
9 2 9 ,0 0 4
1 3 ,3 0 9 ,0 0 1
8 ,4 9 2 ,4 4 5
1 ,9 3 5 ,6 4 5

—The Connecticut trust companies are concerned in a
ruling which, if sustained by the courts, will require the
filing of bonds by institutions when named as executor or
administrator, notwithstanding their exemption under the
law. The question has arisen through the recent action
of Judge Studley of New Haven in calling upon the New
Haven Trust Co. to furnish a bond of $150,000 in connection
with its appointment as executor of the will of Col. Thomas
Emmett Addis. According to the Hartford “Courant, the
trust company was specified as the executor in Col. Addis’s
will, and under a special statute the filing of bonds is unneces­
sary where an appointment as administrator or executor is
designated in a will, the capital, surplus and undivided profits
acting as such bond. The company, it is stated, has lately
been named as executor of a number of large estates, the
aggregate of which would be far in excess of its $200,000
capital, and it is for this reason, it is said, that Judge Studley
has determined to require all trust companies named as
executors to file bonds the same as though there were no
special legislation excusing them from doing so.
—The recent decision of Judge T. M. Biggar in the matter
of the capital requirements of banking institutions incor­
porated prior to the enactment of the Thomas Banking
Law of Ohio (to which reference was made in this department
Aug. 28) has been accepted as final by the State authorities.
Judge Biggar, whose opinion reversed that previously ren­
dered by Assistant Attorney-General Miller, decided that
the law, in so far as capital needs were concerned, did not
apply to banks existing prior to the passage of the Act.
State Bank Superintendent Seymour has, after considering
the matter with the Attorney-General, issued a statement in
which he says that “it seems wise, in the opinion of the
Superintendent, not to go further in this matter, but to abide
by the decision.” The State banks have accoidinglv oeen
notified that those incorporated prior to May 1 1908, when
the Thomas Act was passed, need not conform to the re­
quirements of that Act as to capital, but may continue to do
business with the amount authorized at the time of in­
corporation.
— Frank Hammond, an Assistant Cashier of the GreenY/df?h Bank of this city, was appointed Cashier of the insti­
tution at a meeting of the directors on Sept. 21. Mr. Ham­
mond has been associate*! with the Dunk tor over twenty-five
y ttm u .




— Visitors to the city during the IIudson-Fulton celebra­
tion are invited by the officers of the Van Norden Trust Co.,
corner Fifth Avenue and Sixtieth Street, to view the mural
paintings on the walls of its beautiful banking room. These
paintings are of timely interest, as there arc depictions of
Hendrick Hudson’s “ Half Moon,” of eighty tons, and the
Lusitania of thirty-six thousand tons— the largest ship now
trading with this port—and a view of New York City in
1790 from the opposite short of the Hudson River. The
“Purchase of the Island of Manhattan, 1620,” and “Dc la
Montagnie Before the Council, 1655,” arc both faithful rep­
resentations of two of the most interesting incidents connected
with the settlement of New York City by the Dutch. Other
pictures of later historical value adorn the walls, depicting
the “Evacuation of New York City by the British, Nov. 25
1783,” and the “Departure of the New York Seventh Regi­
ment for Washington, April 19 1861.”
—The Equitable Trust Company of New York in its state­
ment under date of Sept. 14 1909 reports deposits of $47,­
440,668 and aggregate resources of $62,421,158. ih is insti­
tution, with a capital of $3,000,000, has surplus and undi­
vided profits of $11,056,815. Alvin W. Krech is President,
Lawrence L. Gillespie and Frederick W. tu lle, Vice-L icsidents; Lyman Rhoades, Secretary, and H. Mercer Walker,
Treasurer.
—Frederick J. Leary has been appointed an Assistant
Secretary of the Mutual Alliance Trust Company of this city.
—Samuel McRoberts of Chicago was this week elected a
Vice-President of the National City Bank of this city. Mr.
McRoberts resigned a week ago as Treasurer of Armour & Co.
and President of the Illinois Tunnel Co. Another represen­
tative of the Armour interests, J. Ogden Armour, recently
became identified with the National City Bank, his election
to the directorate having occurred about a month ago.
—The Mercantile National Bank of this city has declared
a quarterly dividend of 1J^%, payable Oct. 15, placing the
stock on a 6% per annum basis. Two per cent was paid in
June 1909 and 2% in December 1908, previous to which no
payments had been made since July 1907.
— Under a resolution adopted by its Governing Committee
on Wednesday, the Chicago Stock Exchange will again put
into operation a clearing system, the proposed method, it is
said, to be similar to that prevailing on the New York and
Boston Stock Exchanges. The new method, the Chicago
“Inter-Ocean” states, will go into effect as soon as the by­
laws of the organization can bo changed to conform to it.
As a preliminary, the rules will be posted on the bulletin
board for five days, and unless objected to by fifty members
will be made operative.
—The First National Bank of Brooklyn, one of the insti­
tutions which suspended during the panic of 190/, resumed
the payment of dividends on its stock this week, the directors
declaring a quarterly dividend of 2%, payable Oct. 5. Of
the several Brooklyn institutions which failed at that time,
the First National is the first and only one up to the present
to resume dividends. Its surplus and profits now are $560,­
000 and the deposits $3,344,000. These same items at the
time of the suspension were about S700,000and $3,<>00,000,
respectively.
__\ second dividend was declared to the depositois of the
Lafayette Trust Co. of Brooklyn, payable Oct. 1. the first
dividend, amounting to 10%, was paid on May 1 last. I he
present distribution is 20%, making altogether thus fivr
30% since the closing of the institution on Nov. 30 1908. The
payment, which is said to bo larger than was generally looked
for, is made possible partly through the sale of some of the
real estate holdings of the company, although the disposition
of a portion of these, it is reported, was made at a sacrifice.
A curtailment in the expenses of receivership has been
brought about through the relinquishing of the offices at
Nostrand and Gates avenues, and the withdrawal as co­
receiver of Harold A. Davidson, who was appointed to act
with A. K. Alford. There is said to be a likelihood, however,
of an assessment being made upon the stockholders before
the final winding up of the affairs of the institution.
— William Bayard Van Rensselaer, Vice-Preside, t of the
Union Trust Company of Albany and President of the Al­
bany Savings Bank, died on Sept. 25. Mr. Van Rensselaer

w a s b o r n in A lb a n y o n O c t. 4 1 8 5 6 .
H e w a s o n e o f th e in ­
c o rp o ra to r s o f th e U n io n T r u st C o m p a n y a n d h a d b e e n a
d ir e c to r , a m e m b e r o f it s e x e c u t iv e c o m m itte e a n d o n e o f its
V ic e -P r e s id e n ts sin c e i t s o r g a n iz a tio n , in 1 9 0 2 .
H e w a s a lso
a d ir ec to r o f th e N e w Y o r k S t a t e N a tio n a l B a n k o f A lb a n y ,
P r e sid e n t o f th e A lb a n y T e rm in a l W a r eh o u se C o ., a n d w a s
a n e x - P r c s id e n t o f th e S a v in g s B a n k A s s o c ia tio n o f N e w
Y ork S ta te .
— -F red erick II . B r ig h a m , fo rm er b o o k k e e p e r o f th e M er­
c h a n ts ' N a tio n a l B a n k o f N e w H a v e n , C o n n ., w h o w a s in ­
d ic te d o n T u e s d a y b y t h e F ed er a l G ran d J u r y o n ch a rg es of
m isa p p ly in g fu n d s to th e a m o u n t o f $ 9 2 ,0 0 0 , a n d m a k in g
fa lse e n tr ie s in th e b o o k s o f th e in s t it u t io n , w a s se n te n c e d
o n W e d n e s d a y to fiv e y e a r s in th e F ed er a l p e n ite n tia r y a t
A tla n ta . M r. B r ig h a m w a s a r r e ste d o n J u n e 8 o n a ch a rg e
a lle g in g th e e m b e z z le m e n t o f $ 5 ,0 0 0 , b u t th e e m b e z z le m e n t
c o u n t, it is s a id , w a s n o lle d . T h e a c c u s e d p le a d e d g u ilt y
to th e o th e r c o u n t, a n d th e C ou rt s t a t e d t h a t , a lth o u g h h e
h a d m a d e r e s titu tio n a s far a s p o s s ib le , th e r e w a s n o a lte r n a ­
t iv e b u t to im p o se th e fiv e -y e a r s e n te n c e . T h e n e t lo ss to
th e b a n k , it is b e lie v e d , is a b o u t $ 2 0 ,0 0 0 .
— T h e S a v in g s B a n k o f N e w B r ita in , C o n n ., w h ic h su ffered
th e lo ss o f so m e $ 5 0 0 ,0 0 0 o f se c u r itie s tw o y e a r s a g o th ro u g h
its fo rm er T r ea su r er , W illia m F . W a lk e r, r e c e n tly a n n o u n c e d
t h e r e c o v e r y o f m o re th a n $ 5 0 ,0 0 0 o n a c c o u n t o f th e b o n d s
s to le n .
— C h arles L . G o o d h u e w a s r e c e n tly e le c te d P r e sid e n t o f
th e C h ic o p e e N a tio n a l B a n k o f S p rin g fie ld , M a ss., to su c ­
c eed th e la t e A rth u r B . W e st, a n d G . F r a n k A d a m s w a s
e le c te d V ic e -P r e sid e n t. M r. G o o d h u e , w h o h a s b e e n a
d ir ec to r for a n u m b e r o f y e a r s , h a s a c c e p te d th e p o s t , it is
r e p o r te d , o n th e u n d e r s ta n d in g t h a t h is o c c u p a n c y o f th e
o ffic e w ill b e te m p o r a r y o n ly , a n d h is su c c e sso r w ill p r o b ­
a b ly b e n a m e d a t th e a n n u a l m e e tin g in J a n u a r y .
— T h e a b s o r p tio n o f th e M ec h a n ic s’ T r u st C o. o f B o s to n
b y th e F e d e r a l T r u st C o. o f t h a t c it y , th e p a r tic u la r s of w h ic h
w ere g iv e n in o u r issu e o f S e p t . 18, w a s r a tified b y th e
sto c k h o ld e r s o f th e F ed er a l on T u e s d a y , th e 2 1 s t u lt .
T h e la tte r a lso a p p r o v e d th e p r o p o s itio n s to in c r e a se th e
c a p ita l o f th e ir in s t it u t io n fr o m $ 5 0 0 ,0 0 0 to $ 1 ,0 0 0 ,0 0 0 , a n d
to e n la rg e th e ir b o a rd fro m a m e m b er sh ip o f 21 to 3 0 .
— T h e sto c k h o ld e r s o f th e A s ia tic N a tio n a l B a n k o f S a le m ,
M a ss., w ill m e e t o n O c t. 12 to ta k e a c tio n o n p la c in g th e ir
in s t it u t io n in v o lu n ta r y liq u id a tio n . T h e c o n s o lid a tio n
w h ic h h a d b e e n a r ra n g ed b e tw e e n th is b a n k a n d th e N a u m k e a g N a tio n a l B a n k , referred to S e p t . 18, w a s to h a v e b e e n
e ffe c te d u n d e r th e n a m e o f th e la t t e r . T h e la te r d e v e lo p ­
m e n ts c o n te m p la te th e liq u id a tio n o f b o th b a n k s , th e ir b u s i­
n e ss b e in g ta k e n o v e r b y a tr u st c o m p a n y n o w b e in g fo r m e d ,
a n d w h ic h w ill p r o b a b ly b e k n o w n a s th e N a u m k e a g T r u st
C om pany.
— A 10% d iv id e n d w a s r e c e n tly d e c la r ed in fa v o r o f th e
d e p o s ito r s o f th e N a tio n a l D e p o s it B a n k o f P h ila d e lp h ia ,
w h ic h c lo sed it s d o o rs J u ly 14 1 9 0 8 .
W ith t h e 8 5 % p r e v i­
o u s ly p a id , t h e l a t e s t d is b u r s e m e n t b r in g s th e t o t a l u p to
95% .
— T w o P itts b u r g h in s t it u t io n s , th e L a n d T r u st C o. a n d
th e M erca n tile T r u st C o ., c lo s e d th e ir d o o r s o n M o n d a y la s t
a n d w ere p la c e d in c h a r g e o f S t a t e B a n k E x a m in e r J a m e s
L . W h ite , w h o is a c tin g a s te m p o r a r y r e c e iv e r . T h e L a n d
T r u st C o. h a s a c a p ita l of $ 5 0 0 ,0 0 0 a n d se e m s to h a v e
a rra n g ed a b o u t a y e a r a g o to ta k e o v e r th e M erca n tile, w h ic h
h a s a c a p ita l o f a b o u t $ 7 0 0 ,0 0 0 . T h e d iffic u lty e x p e r ie n c e d
in m e e tin g its o b lig a tio n s in c o n n e c tio n w ith th e p u rc h a se is
sa id to h a v e b e e n a c o n tr ib u tin g fa c to r in i t s c lo s in g . T h e
r eserv e o f th e tw o in s t it u t io n s , it is s t a t e d , w a s a lso fo u n d to
b e b e lo w th e r e q u ir e m e n t a t th e tim e o f a n e x a m in a tio n b y
th e B a n k in g D e p a r tm e n t se v e r a l w e e k s a g o , a n d a ru n o n
S a tu r d a y la s t s till fu r th e r r ed u c ed th e ir c a sh r eso u r ce s.
W . II . G ra h a m is sa id to h a v e r esig n ed t h e p r e sid e n c y o f th e
M erca n tile a b o u t a m o n th a g o . I n a s t a t e m e n t reg a rd in g
th e s u sp e n sio n , S t a t e B a n k E x a m in e r W h ite S a y s:
T h e r e h a s b e e n n o c r im in a l a c t io n In t h e c o n d u c t o f e it h e r b a n k .
The
b o o k s o f botfh a r e s t r a ig h t . T h e o f fic ia ls o f t h e L a n d T r u s t C o . w e r e c o n n
d e n t t h a t t h e y w o u ld c o m e t h r o u g h a ll r ig h t w i t h o u t g o in g I n to v o lu n t a r y
b a n k r u p tc y .
A r u n o n t h e L a n d T r u s t S a t u r d a y , h o w e v e r , b r o u g h t m a tt e r s to a
c r is is. J u s t w h a t c a u s e d t h is r u n I a m u n a b le t o s a y .
H ead y m o n ey w as
e x h a u s t e d a n d It w a s d e e m e d I n a d v is a b le t o a t t e m p t t o r e su m e b u s ttie s s
on M onday.




F o r s o m e t im e t h e L a n d T r u s t C o ., w h ic h o w n s t h e e n t ir e s t o o k o f t h e
M e r c a n tile T r u s t C o ., h a s f o u n d It n e x t t o I m p o ss ib le t o k e e p u p t h e legal
r eserv e.
W h e n t h e L a n d T r u s t C o . b o u g h t th o M e r c a n tile T r u s t C o . It d i d n o t
h a r e r e a d y c a s h t o p a y f o r I t, a n d , I n s te a d , g a v e c e r t ific a te s o f d e p o s i t ,
p a y a b le a t s t a t e d I n t e r v a ls . T h e s e h a v e b e e n b e c o m in g d u e r a p id ly a n d
t h e y h a v e fo u n d t h e m a h e a v y lo a d .

I t is r ep o rte d in th e P itts b u r g h “ G a z e t t e ” t h a t tw o in ­
d ic t m e n t s ch a r g in g e m b e z z le m e n t w e re r etu rn ed o n S e p t . 15
b y t h e G ran d J u r y a g a in s t G eorge I . W h itn e y , F r a n c is L .
S te p h e n s o n a n d Ir w in M. F ic k e iso n , m e m b e r s o f th e fa ile d
b a n k in g h o u s e o f W h itn e y , S te p h e n s o n & C o. o f P it t s b u r g h .
— S a m u e l K . S m ith h a s b e e n e le c te d V ic e -P r e s id e n t o f t h e
G er m a n -A m e r ic a n B a n k o f B a ltim o r e a n d C laren ce R .
E v a n s h a s b e e n a p p o in te d C a sh ier. T h e o ffic e o f V ic e ­
P r e sid e n t is a n e w o n e . T h e a p p o in te e , M r. S m ith , h a s b e e n
a c t in g C ash ier o f t h e b a n k fo r t h e p a s t fe w w e e k s , in t h e
p la c e o f L o u is F . D ie t z , w h o r e s ig n e d , it w a s r e p o r te d , a fte r
h a v in g m a d e g o o d a n a lle g e d sh o r ta g e o f $ 6 ,7 0 0 in h is
a c c o u n t s . T h e ir r eg u la ritie s, a c c o r d in g to th e “ B a ltim o r e
S u n ,” w e re d isc o v e r e d b y N a tio n a l B a n k E x a m in e r H a n n —
th e b a n k , th o u g h n o t a n a tio n a l in s t it u t io n , b e in g u n d e r
h is su p e r v isio n a s a m e m b er o f th e B a ltim o r e C le a r in g -H o u s e
A s s o c ia tio n . M r. E v a n s , t h e n e w C a sh ier, w a s c o n n e c te d
w ith t h e N a tio n a l U n io n B a n k o f M ary la n d fo r o v e r t w e n t y
y e a r s . H e is T r ea su rer o f t h e B a ltim o r e A u d itin g C o.
— T h e C o n tin e n ta l N a tio n a l B a n k , t h e n e w e s t o f I n d ia n a p ­
o lis b a n k s , b e g a n b u sin e ss o n S e p t . 15 . T h e b a n k h a s
q u a rte r s a t 18 N o r th M erid ian S tr e e t, a n d i t is u n d e r t h e
m a n a g e m e n t o f G eorge F . Q u ick , P r e sid e n t; M ord C arter,
V ic e -P r e sid e n t; B r a n d t C. D o w n e y , C ash ier, a n d A r th u r
H . T a y lo r , A s s is ta n t C ash ier. I t is r e p o r te d t h a t so m e
o f th e s to c k h o ld e r s a re c o n sid e r in g th e fo r m a tio n o f a s t o c k
c o m p a n y to fin a n c e t h e e r e c tio n o f a p r o p o s e d b u ild in g fo r
th e p e r m a n e n t h e m e o f th e in s t it u t io n a t M erid ian S tr e e t
a n d M o n u m e n t P la c e .
— T h e S o u th S id e S t a t e B a n k , a n e w C h ic a g o i n s t it u t io n ,
h a d it s in itia l o p e n in g o n S e p t . 15 . T h e b a n k s t a r t s w ith a
c a p ita l o f $ 2 0 0 ,0 0 0 . I t h a s b e e n o r g a n ize d b y i n t e r e s t s
fo r m e r ly id e n tifie d w ith th e D r e x e l S t a t e B a n k , a n d h a s a s
o ffice rs W . H . M ah an , P re sid e n t; C. H . R a n d e ll a n d F . A .
R a n d e ll, V ic e-P re sid e n ts; a n d W illia m H a r d y , C a sh ier.
T h e b a n k ’s q u a rte r s a re a t C o tta g e G ro v e A v e n u e a n d 4 3 d
S tr e et.
— T h e S e p t. 1 s t a t e m e n t o f th e P e o p le s -S ta te B a n k o f
D e tr o it, M ic h ., r e v e a ls to ta l d e p o s its in e x c e s s o f t w e n t y - f iv e
m illio h s o f d o lla rs— in e x a c t fig u res, $ 2 5 ,5 8 7 ,7 7 0 — c o n s is t­
in g o f $ 1 2 ,0 1 6 ,4 4 6 o f co m m e r cia l d e p o s its a n d $ 1 3 ,5 7 1 ,3 2 4
o f s a v in g s d e p o s its . T h e P e o p le s -S ta te is t h e la r g e st b a n k
in t h e S t a t e of M ich ig a n .
— T h e s t a t e m e n t issu ed b y th e M erch a n ts' N a tio n a l B a n k
o f S t . P a u l, M in n ., u n d er th e call o f S e p t . 1, in d ic a te s c o n ­
t in u e d g r o w th , d e p o s its h a v in g a d v a n c e d fr o m $ 8 ,8 3 4 ,5 8 0
o n J u n e 30 190 9 to $ 1 0 ,3 7 2 ,7 6 9 S e p t. 1 1 9 0 9 . A g g r e g a te
r eso u r ce s are rep o rte d a t $ 1 3 ,1 1 8 ,2 2 6 , a s a g a in s t $ 1 1 ,5 5 7 ,­
5 7 7 o n J u n e 23 1 9 0 9 .
K e n n e th C lark is P r e s id e n t o f th e
in s t it u t io n , G eorge H . P rin c e V ic e -P r e s id e n t, a n d H . W .
P a rk er C ash ier.
— J o h n E . B e ll, P r e sid e n t o f th e H e n n e p in C o u n ty S a v in g s
B a n k of M in n e a p o lis, d ie d on S e p t . 1 0 . M r. B e ll w a s
o n e o f th e o r g a n ize rs o f th e in s t it u t io n , w h ic h d a te s fro m
1 8 7 0 , a n d w a s it s P r e sid e n t sin c e 1 8 9 0 .
H e w a s a lso a
d ir e c to r o f th e M in n eso ta L o a n & T r u s t C o. H e w a s a
n a t iv e of N e w Y o rk S t a t e , a n d w a s b o rn in 1 8 3 4 .
— T h e p a r tic u la r s c o n e e r n in g th e c a p ita l to b e is s u e d b y
th e N o r th w e s te r n N a tio n a l B a n k o f M in n e a p o lis, w h ic h
la t e ly fo r m e d a n a llia n c e w ith th e M in n e so ta L o a n & T r u s t
C o ., w e re g iv e n o u t th is w e e k . T h e s to c k o f th e b a n k is to
b e in c r e a se d from $ 2 ,0 0 0 ,0 0 0 to $ 3 ,0 0 0 ,0 0 0 , a n d o f th e a d d i­
tio n a l $ 1 ,0 0 0 ,0 0 0 , $ 6 0 0 ,0 0 0 w ill b e issu e d pro r a ta a t $ 2 0 0
p e r sh a re to th e p r e se n t s to c k h o ld e r s. T h e o th e r $ 4 0 0 ,0 0 0
w ill g o to th e sto c k h o ld e r s o f th e M in n e so ta L o a n & T r u st
C o. in e x c h a n g e for th e ir p r e se n t h o ld in g s of $ 5 0 0 ,0 0 0 . W h e n
th is a r r a n g e m e n t is c o n su m m a te d , th e c a p ita l o f th e tr u s t
c o m p a n y w ill b e in c re a se d from $ 5 0 0 ,0 0 0 to $ 1 ,0 0 0 ,0 0 0 .
N o n e o f th e s to c k o f th e la tte r w ill b e o n th e m a r k e t, a s u n d e r
th e p la n arra n g ed it w ill b e h e ld in o n e b lo c k , in tr u s t, a n d
e v e r y sto c k h o ld e r in th e N o r th w e s te r n N a tio n a l w ill b e
th e o w n er o f s to c k in th e tr u s t c o m p a n y to th e e x t e n t o f o n e th ird h is in te r e s t in th e b a n k .
W illiam H . B u n w o o d y ,

P r e sid e n t o f th e N o r th w e s te r n N a tio n a l, a n d V ic e -P r e s id e n ts
E . W . D e c k e r a n d J o se p h C h a p m a n J r ., h a v e b e e n e le c te d
d ir e c to r s o f th e tr u s t c o m p a n y . T h e y fill v a c a n c ie s g r o w in g
o u t o f th e r e s ig n a tio n o f F . M. P r in c e , P r e sid e n t o f th e F ir st
N a tio n a l B a n k ; F . A . C h a m b e rla in , P r e sid e n t o f th e S e c u r ity
N a t io n a l, a n d th e d e a th o f J o h n E . B e ll, P r e sid e n t o f th e
H e n n e p in C o u n ty S a v in g s B a n k . T h e a g g r e g a te reso u r ce s
o f t h e N o r th w e s te r n N a tio n a l B a n k r ea c h e d a g ra n d t o t a l
o f $ 3 1 ,2 4 7 ,6 4 3 o n S e p t. 1 la s t , w h ile d e p o s its w e re r ep o rte d
a t o v e r t w e n t y - f iv e m illio n s o f d o lla rs ($ 2 5 ,5 0 9 ,9 7 7 ) .
— T h e S e c u r ity N a tio n a l B a n k o f M in n e a p o lis h a s m a d e a
n o t e w o r t h y in c r e a se in it s b u sin e ss sin c e t h e call o f J u n e 23
1 9 0 9 , a t w h ic h tim e it s d e p o s its w e re $ 1 5 ,8 6 9 ,1 2 8 . T h e
s t a t e m e n t o f S e p t . 1 sh o w e d d e p o s its o f $ 1 8 ,2 7 3 ,8 0 9 , a g a in
o f n e a r ly th r e e m illio n s o f d o lla rs in le s s th a n th r e e m o n t h s .
A g g r e g a te reso u rces h a v e a d v a n c e d d u rin g th e in te r v a l m e n ­
tio n e d fr o m $ 1 8 ,6 4 4 ,8 3 7 to $ 2 1 ,1 4 4 ,8 5 8 .
— T h e F o u r th N a tio n a l B a n k o f A t la n t a , G a ., r ep o rts
a n in c r e a se in d e p o s its d u rin g t h e y e a r e n d in g S e p t . 1
o f $1 2 0 7 ,9 4 4 , d e p o s its o n S e p t . 1 b e in g $ 4 ,6 4 2 ,7 9 6 , a s
a g a in s t $ 3 ,4 3 4 ,8 5 2 o n S e p t . 1 1 9 0 8 . T h is in s titu tio n h a s a
a p ita l o f $ 6 0 0 ,0 0 0 a n d su r p lu s a n d u n d iv id e d p r o fits of
$ 7 2 5 ,8 1 8 .
— T h e s to c k h o ld e r s of th e B a n k e r s ’ T r u s t C o. o f D a lla s ,
T e x a s , a t a m e e tin g o n A u g u s t 1 8 , v o t e d in fa v o r of
c h a n g in g th e n a m e o f t h e in s t it u t io n to th e G u a r a n ty S t a t e
B a n k & T r u s t C o. a n d in c r e a sin g t h e c a p ita l sto c k from
$ 1 5 0 ,0 0 0 to $ 4 0 0 ,0 0 0 . T h e in s t it u t io n in te n d s to d o a c o m ­
m e rc ia l b a n k in g b u sin e ss a n d h a s d e c id e d to a d o p t th e
a s s e s s m e n t p la n o f g u a r a n te e in g i t s d e p o s its .
D. E.
W a g g o n e r w ill c o n tin u e a s P r e sid e n t of th e c o m p a n y .
M. H .
W o lfe a n d J . S . R ic e h a v e b e e n c h o se n V ic e -P r e s id e n ts a n d
E d w in H o b b y h a s b e e n m a d e C ash ier. T h e r eo r g a n ize d in ­
s t it u t io n w ill r e m o v e to th e C ock rell B u ild in g s h o r t ly .
— T h e T r a d e r s’ B a n k & T r u s t C o m p a n y o f D a lla s, T e x .,
w ill in c r e a se it s c a p ita l fro m $ 5 0 ,0 0 0 to $ 1 0 0 ,0 0 0 a fte r J a n . 1
n e x t , a t w h ic h tim e th e n a m e o f th e in s t it u t io n w ill b e
c h a n g e d to th e T r a d e r s’ S t a t e B a n k . T h e s e llin g p rice of
t h e n e w s to c k h a s b e e n fixed a t $ 1 0 5 p er sh a r e , th e p r e m iu m
r a isin g t h e su rp lu s a c c o u n t to $ 5 ,0 0 0 . T h e in s t it u t io n h a s
b e e n in o p e r a tio n sin c e J a n . 4 1 9 0 8 .
— T h e la t e s t s t a t e m e n t issu e d u n d e r th e C o m p tr o lle r ’s
call b y t h e F ir st N a tio n a l B a n k o f S a n F r a n c isc o s h o w s t h a t
in s t it u t io n to b e e n jo y in g a s t e a d y in c re a se in i t s b u sin e ss .
D e p o s it s o n S e p t. 1 w e re r ep o rte d $ 1 3 ,1 5 7 ,9 1 8 , a s a g a in st
$ 1 2 ,6 1 5 ,5 5 5 o n J u n e 2 3 1 9 0 9 . A g g e g a te r eso u r ce s a re n ow
o v e r t w e n t y m illio n s— in e x a c t fig u res, $ 2 0 ,0 2 7 ,9 3 8 . T h e
F ir s t F e d e r a l T r u s t C o m p a n y o f S a n F r a n c isc o , w ith a ca p i­
ta l o f $ 1 ,5 0 0 ,0 0 0 , is c o n tr o lle d b y th e F ir s t N a tio n a l a n d g o v ­
e rn ed b y th e s a m e b o a r d o f d ir e c to r s . T h e b a n k ’s o fficia l
sta ff is h e a d e d b y R u d o lp h S p r e c k e ls a s P r e sid e n t, w ith
J a m e s K . L y n c h , V ic e -P r e s id e n t, a n d J . K . M o ffitt, C a sh ier,
a n d J . H . S k in n e r a n d C. H . M cC orm ick , A s s is ta n t C a sh ier s.
— T h e S a n F r a n c isc o a g e n c y o f t h e S w is s-A m e r ic a n B a n k
h a s b e e n m a d e a se p a r a te b a n k in g in s t it u t io n , h a v in g b een
in c o r p o r a te d u n d e r th e S t a t e b a n k in g la w s . T h e reo r g a n iza ­
tio n h a s b e e n e ffe c te d u n d e r t h e n a m e o f t h e S w is s-A m e r ic a n
B a n k a n d th e a u th o r iz e d c a p ita l h a s b een fix ed a t $ 1 ,0 9 0 ,0 0 0 .
T h e o ffic e r s o f th e in s t it u t io n a re B . G . T o g n a z z i, P re sid e n t;
T . C. T o g n a z z i a n d A lfred M o n o tti, V ic e-P re sid e n ts; F red .
O u er, C ashier; F . V . V o llm e r , S e c r e ta r y , a n d O tto O tte s e n ,
A s s t. C a sh ier a n d A s s t. S e c r e ta r y . I t is r ep o rte d t h a t th e r e
h a s b e e n a u n ific a tio n o f th e in te r e s ts o f th e S w is s-A m e r ic a n
B a n k a n d th e C en tral T r u st C o ., a n d t h a t th e la t t e r w ill
h a n d le t h e c o m m e r cia l b u sin e ss , w h ile t h e b a n k w ill t a k e
c a re o f t h e s a v in g s a c c o u n ts .
— T h e o r g a n iz a tio n o f th e p r o s p e c tiv e M er ca n tile N a tio n a l
B a n k o f S a n F r a n c isc o , w h ic h is to t a k e o v e r th e b a n k in g
b u sin e ss o f th e M erca n tile T r u st C o ., is a b o u t to b e p e r fe c te d ,
p e r m is sio n to p r o ceed w ith it s fo r m a tio n h a v in g b een
r e c e iv e d qn A u g u s t 19 fr o m th e C o m p tro ller o f t h e Cur­
r e n c y . T h e in s titu tio n w a s p la n n e d se v e r a l m o n th s a g o , an d
a s a n n o u n c e d in th is d e p a r tm e n t J u n e 2 6 is to h a v e $ 2 ,0 0 0 ,­
0 0 0 c a p it a l. F u r th e r p a r ticu la r s w ith regard to th e n e w b a n k
w ill b e fo u n d in th e issu e referred t o .
— T h e sh a re h o ld e r s of th e O ld N a tio n a l B a n k o f S p o k a n e
h a v e o r g a n iz e d th e O ld N a tio n a l B a n k B u ild in g C o. w ith
$ 1 ,3 0 0 ,0 0 0 c a p ita l, to o w n a n d e r e c t th e fo u r te e n -s to r y




b u ild in g w h ic h th e b a n k h a s a r ra n g ed to c o n s tr u c t. W ork
o n th e s tr u c tu r e , w h ic h is to b e a t t h e corn er of R iv e r s id e
A v e n u e a n d S t e v e n s S tr e e t, is a b o u t to b e g in .
The
p lo t m e a su r e s 1 0 0 x 1 4 2 f e e t . T h e “ C o m m ercia l W e s t ” s t a t e s
t h a t th e e n tir e g r o u n d floor a n d b a s e m e n t w ill b e r e ser v ed fo r
th e b a n k , a lth o u g h it w ill o c c u p y o n ly a b o u t tw o -th ir d s o f th e
area a t th e s t a r t . T h e u p p e r floors w ill b e r en ted a s o ffic e s .
T h e b u ild in g is e x p e c t e d to b e r ea d y fo r o c c u p a n c y n o t la te r
th a n J a n . 1 9 1 1 .
— B u s in e s s w a s su sp e n d e d b y th e C o lu m b ia B a n k & T r u s t
C o. o f O k la h o m a C ity , O k la ., o n th e 2 8 th u l t ., th e in s t it u t io n
h a v in g b e e n ta k e n in ch a rg e b y S t a t e B a n k C o m m issio n er
A . H . Y o u n g , fo llo w in g a s e c r e t c o n fe re n c e of th e B a n k in g
B o a r d o n M o n d ay n ig h t.
A s t a t e m e n t a ttr ib u te d to R o y
O a k e s, S e c r e ta r y o f th e B o a r d , s a y s t h a t “ th e b a n k h a s
lo a n e d to o g r e a t a p r o p o r tio n of its fu n d s a n d its s u p p ly o f
c a sh , u n r e p le n ish e d , is in a d e q u a te to m e e t th e d e m a n d s
o f l a w .” T h e in s t it u t io n w a s o r g a n ize d in 1 9 0 5 . I t w a s
o n e o f th e d e p o s ita r ie s for th e S t a t e g u a r a n ty fu n d , a n d is
rep o rte d to h a v e h e ld $ 5 0 ,0 0 0 o f th e sa m e o n A pril 30 1 9 0 9 ,
w h en th e fu n d a m o u n te d to $ 3 0 2 ,5 0 0 .
H . H . S m o c k , fo r ­
m e rly S t a t e B a n k C o m m issio n er , o f O k la h o m a , b e c a m e a
V ic e -P r e s id e n t o f th e in s t it u t io n a b o u t th e first o f th e p r e se n t
year.
O n S e p t . 1 la s t th e c o m p a n y r ep o rte d a p a id -in
c a p ita l o f $ 2 0 0 ,0 0 0 , a su rp lu s fu n d of $ 2 0 ,0 0 0 a n d u n d iv id e d
p r o fits, n e t , o f $ 1 1 ,3 9 4 . I t s d e p o s its w ere g iv e n a s $ 2 ,8 0 6 ,­
0 0 8 6 1 , m a d e u p a s fo llo w s: in d iv id u a l, $ 1 ,3 2 1 ,9 2 9 31; S t a t e
T r ea su r er , $ 1 7 2 ,3 8 3 13 , a n d b a n k s , $ 1 ,3 1 1 ,6 9 6 17. A p r o ­
p o sed a s s e s s m e n t in te n d e d to b e le v ie d o n th e O k la h o m a
b a n k s fo r th e p u rp o se o f t a k in g care o f th e d e p o s ito r s o f th e
fa ile d in s t it u t io n s e e m s to h a v e m e t w ith so m e p r o te s t fro m
th o s e w h o c o n te n d t h a t a n a s s e s s m e n t u p o n th e s to c k o f th e
d e fu n c t in s t it u t io n s h o u ld first b e m a d e b efo r e th e o th e r
b a n k s are a sk e d to p a y a n e m e r g e n c y a s s e s s m e n t. T e le ­
g r a p h ic a d v ic e s y e s te r d a y in tim a te d t h a t th e in s titu tio n
m ig h t r esu m e n e x t w e e k .

IM P O R T S A N D E X P O R T S OF GOLD A N D SIL V E R A T
S A N FRANCISCO.
T h e C o llec to r o f C u sto m s a t S a n F r a n c isc o h a s fu r n ish ed
u s th is w e e k w ith th e d e ta ils o f th e im p o r ts a n d e x p o r ts of
g o ld a n d silv e r th r o u g h t h a t p o r t for t h e m o n th o f A u g u s t,
a n d w e g iv e th e m b e lo w in c o n ju n c tio n w ith th e figu res for
p r e c e d in g m o n th s , th u s c o m p le tin g th e r e s u lts for th e e ig h t
m o n th s o f th e c a le n d a r y e a r 1 9 0 9 . T h e im p o r ts o f g o ld w ere
m o d e r a te , r e a c h in g $ 4 0 9 ,5 1 7 , m a in ly g o ld in o re. O f s ilv e r
th e r e c a m e in $ 1 3 8 ,1 5 0 , la r g e ly b u llio n . D u r in g th e e ig h t
m o n th s th e r e w a s r e c e iv e d a to ta l o f $ 2 ,1 6 0 ,6 1 5 g o ld a n d
$ 1 ,7 8 7 ,7 9 9 silv e r , w h ic h c o m p a r es w ith $ 2 ,7 5 4 ,4 3 7 g o ld a n d
$ 1 ,8 7 6 ,6 4 2 s ilv e r in 1 9 0 8 . T h e s h ip m e n ts o f g o ld d u rin g
A u g u s t w ere h e a v y , $ 5 ,9 3 3 ,2 4 5 b u llio n , a n d th e e x p o r ts o f
silv e r w ere $ 6 0 9 ,7 1 7 , w h o lly b u llio n . F o r th e e ig h t m o n th s
th e e x p o r ts o f g o ld rea c h e d $ 1 2 ,0 2 3 ,4 1 2 , a g a in s t $ 1 8 ,6 0 3 in
1 9 0 8 , a n d $ 5 ,2 5 5 ,2 0 8 silv e r w a s s e n t o u t , a g a in s t $ 3 ,6 8 7 ,6 5 7
in 1 9 0 8 . T h e e x h ib it for A u g u s t a n d for th e e ig h t m o n th s
is a s fo llo w s:
IM PO R T S O F G O LD A N D S IL V E R A T S A N FR A N C ISC O .

Silver.

Gold.
M onths.
1909.
January .........................
February — ...............
M a r c h ..............................
A p r i l ................................
May
.............................
June ................................
J u l y ..................................
A u g u st..............................
T o ta l 8 m o n th s------

Coin.
S
11.900
200
* 2 ,1 0 5
108

Bullion.
$
214,429
281,124
249,380
153,732
383,395
192,102
202,503
409,517

Total.
$
226 .3 2 9
281,124
2 49,580
153,732
3 83,395
194,207
262,671
409,517

14,373 2,14 6 ,2 4 2 2 ,1 6 0 ,6 1 5

Coin.
$
27,872
7 ,9 0 0
2 3,730
11,020
23,080
97.809
10.040
2 .300

Bullion.
$
244,968
152,852
270,835
175,658
189,274
170,971
231,137
135,850

Total.
S
272,840
100,752
300,565
187,178
212,354
274,783
241,177
138,150

204.351 1,583,448 1,787,799

E X P O R T S O F G O LD A N D S IL V E R FROM SA N FR A N C ISC O .

Gold.
M onths.

Sliver.

Coin.

Bullion.

Total.

S

S

S

Coin.

Bullton.

Total.

J u l y ..................................
A u g u s t.............................

"*5*666
3 .0 2 6 ,5 9 8
3,05 8 ,0 0 9 3 ,0 5 8 ,0 0 9
_______ 5 .9 3 3 ,2 4 5 5 ,9 3 3 .2 4 5

*
S
3 54,730 393,230
5 49,119 082,589
021,787
621,787
733,531
733,531
...............
470,603
470,603
1,054,037 1,054,637
689.108
689,108
:::::::
609,717
609,717

T o ta l 8 m o n th s------

5 ,000 12018.412 12023,412

171,970 5 ,0 8 3 .2 3 8 5 ,255 ,2 0 8

1909.
F ebruary ......................

500

April ...............—---------\I ,v
________

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

'*5 * 6 6 6

500

$
38 ,5 0 0
133,470

O

ct

D EB T S T A T E M E N T A U G U S T 31 1 9 0 9 .
T h e fo llo w in g s t a t e m e n t s of th e p u b lic d e b t a n d T r ea su r y
c a sh h o ld in g s o f th e U n ite d S t a t e s are m a d e u p fr o m o ffic ia l
figu res issu e d A u g . 31 1 9 0 9 . For statement of J u ly 31 1 9 0 9 ,
see issue of Aug. 14 1 9 0 9 , page 388; that of Aug. 31 1 9 0 8 , see
Sept. 19 1 9 0 8 , page 7 1 8 .
IN T E R E S T -B E A R IN G D E B T A U G . 31 1909.
A m ount
———----- Am ount Outstanding ---------—

Title of Loan—
L’S,
3s,
•Is.
2s,
2s,

Interest
Payable.

Consols of 1930------------Q .-J.
L oan of 1908-18----------Q .-F .
Loan of 1925 ..................Q .-F .
T an . Canal Loan 1 9 0 6 .Q .-N .
Pan. Canal l o a n 1 9 0 8 .Q .-F .

Issued.

Registered.

s

s

Coupon.

s

Total.

$

6 4 6 ,2 5 0 ,1 5 0 6 4 1 ,1 6 3 ,8 5 0 5 ,0 8 6 ,3 0 0 6 4 6 ,2 5 0 ,1 5 0
198,792,660 4 1 ,3 3 4 ,6 6 0 2 2 ,6 1 0 ,8 0 0 63 ,9 4 5 ,4 6 0
1 6 2 ,315,400 0 7 ,3 7 0 ,9 0 0 2 1 ,1 1 9 ,0 0 0 118 ,4 8 9 ,9 0 0
5 4 ,6 3 1 ,9 8 0 5 4 ,6 0 0 ,4 8 0
3 1 ,5 0 0 5 4 ,6 3 1 ,9 8 0
3 0 ,0 0 0 ,0 0 0 2 9 .4 0 3 ,3 2 0
596,680 3 0 ,0 0 0 ,0 0 0

A ggregate int.-bearlng d e b t . .1 ,0 9 1 ,9 9 0 ,1 9 0 8 6 3 ,8 7 3 ,2 1 0 4 9 ,4 4 4 ,2 8 0 9 1 3 ,3 1 7 ,4 9 0
.Vote.— D enom inations of bonds are:
Of $20, loan of 1908, coupon and registered.
Of $50, all Issues e x c ep t 3s of 1908: of S1C0, all Issues.
Of $500, all Issues; of $ 1 ,0 0 0 , all Issues.
Of $5,000, all registered 2s, 3s and 4s; of $ 1 0 ,0 0 0 , all registered bonds.
Of $50,000, registered 2s of 1930.
D E B T O N W IIIC II I N T E R E S T H A S C E A SE D S IN C E M A T U R IT Y .
J u ly 3 1 .
August 3 1 .
F un ded loan o f 1891, continu ed a t 2 % , called M ay 18
1900, Interest ceased A ug. 18 190 ) . ..............................
$ 3 2 ,0 0 0 00
$3 2 ,0 0 0 00
Fun ded loan of 1891, m atured S e p t. 2 1891....................
2 3 ,7 5 0 00
23 ,7 5 0 00
Loan of 1904, m atured I ’e b . 2 190 4 ..............
18,750 00
18,750 00
Funded loan of 1907, m atured J u ly 2 1907 ............. 1 ,8 1 3 ,0 0 0 00
1 ,7 9 2 ,3 0 0 00
R efunding certificates, m atured J u ly 1 1 9 0 7 -...............
17,690 00
1 7,670 00
Old d eb t m atured a t various d ates prior to Ja n . I 1861
and other Item s of d eb t m atured a t various d a tes
subsequent to Jan. 1 18 6 1------------------ ----------------- .
9 0 9 ,2 8 5 20
9 0 9 ,1 5 5 26
A ggregate d e b t on which Interest has ceased sin ce
m a tu r ity .......... ................ .................. .................................. $ 2 ,8 1 4 ,4 7 5 2 6 $ 2 ,7 9 3 ,6 2 5 26
D E B T B E A R IN G NO I N T E R E S T .
U n ited S ta tes n o te s ...................................... - .........................................................$ 3 4 6 ,6 8 1 ,0 1 6 00
O ld dem and n o te s ...............- ........... ......................................................................
53 ,2 8 2 50
N ational bank n otes— R edem ption a c c o u n t .._____ ________________ 2 5 ,7 7 2 ,3 5 8 50
Fractional currency, less $ 8 ,3 7 5 ,9 3 4 estim a ted as lo st or d e s tr o y e d ..
6 ,8 6 0 ,3 0 9 28
A ggregate d e b t bearing no In terest.......... ......................
R E C A P IT U L A T IO N .

Classification—
Interest-bearing d e b t.............
D ebt Interest c e a se d ...............
D e b t bearing no Interest____

A w . 31 1909.
$ 9 1 3 ,3 1 7 ,4 9 0 00
2 ,7 9 3 ,6 2 5 20
3 7 9 ,3 6 0 ,9 0 6 28

J i ll ) / 31 1909.
$ 9 1 3 ,3 1 7 ,4 9 0 00
2 ,8 1 4 ,4 7 5 20
3 8 0 ,4 1 7 ,1 4 4 28

$ 3 7 9 ,3 6 0 ,9 0 6 28

Increase ( + ) or
Decrease (— ).
— $20 ,8 5 0 00
— 1,0 5 0 ,1 7 8 00

T otal gross d e b t .......... ..........$ 1 ,2 9 5 ,4 7 8 ,0 8 1 54 $ 1 ,2 9 6 ,5 4 9 ,1 0 9 54
C ash balance In T r e a s u r y ...
2 4 7 ,9 5 0 ,8 7 0 90
258 ,4 3 7 .7 5 4 71

— $ 1 ,0 7 1 ,0 2 8 00
-1 0 ,4 8 6 .8 8 3 81

T otal n et d e b t .......................$1 ,0 4 7 ,5 2 7 ,2 1 0 04 $ 1 ,0 3 8 ,1 1 1 ,3 5 4 83

+ $ 9 ,4 1 5 ,8 5 5 81

* Inclu ding $ 1 5 0 ,0 0 0 ,0 0 0 reserve fund.

T h e fo r e g o in g figu res sh o w a gro ss d e b t o n A u g . 31 of
$ 1 ,2 9 5 ,4 7 8 ,0 8 1 54 a n d a n e t d e b t (g r o ss d e b t le s s n e t c a sh
in th e T r e a s u r y ) o f $ 1 ,0 4 7 ,5 2 7 ,2 1 0 04 .
T R E A S U R Y C A S H A N D D E M A N D L I A B I L I T I E S .—
T h e c a sh h o ld in g s o f th e G o v e r n m e n t a s th e i t e m s s to o d
A u g u s t 31 a re s e t o u t in t h e fo llo w in g :
L IA B IL IT IE S .
A S SE T S.
Trust Fund Liabilities —$
Trust F und Holdings —
$
G old c o in ............... .............. 8 5 9 ,3 9 2 ,8 6 9 00 G old certifica tes............... 8 5 9 ,3 9 2 ,8 0 9 00
Silver d ollars...................... 4 3 7 .5 8 6 ,0 0 0 09 Silver certificates______ 4 8 7 ,5 8 6 ,0 0 0 00
4 ,1 2 0 ,0 0 0 00
Silver dollars o f 1 8 9 0 . ..
4 ,1 2 0 ,0 0 0 00 Treasury n otes ot 1 8 9 0 ..
T otal trust lia b ilitie s .1,3 5 1 ,0 9 3 ,8 6 9
Gen. Fund Liabilities —
2 8 ,5 9 8 ,2 8 0
3 9 ,2 6 4 ,1 5 7 12 N ational bank 5% fu n d .
4 7 ,9 2 0 ,7 0 0 00 O utstanding checks and
d r a f ts ___________ ___
14,475,754
9 ,5 0 1 ,4 4 6 00
3 ,9 9 6 ,8 3 1 00 D isbursing officers’ bal­
4 ,1 8 6 ,6 7 5 98
a n c e s .......................
7 6 ,9 6 9 ,6 1 3
6.90 5 ,7 5 1 00 P o st Office D epartm en t
12,725 00 a c c o u n t ...........................
2 ,9 2 3 ,1 0 8
2 6 ,9 0 2 ,0 2 3 87 M iscellaneous Item s____
1,659,601
2 5 ,2 70,931 77
62 82 T otal g e n ’l lia b i li t ie s ... 124,026,357
1,923,097 56
9 ,1 1 5 80

T otal tru st fu n d _____ 1 ,3 5 1 ,0 9 8 ,8 6 9 00

General F u n d Holdings —
G old coin and b u l li o n ...
G old c e r t ific a te s ............
Sliver certificates.............
S liver d ollars_____ _____
Silver b u llion ......................
U n ited S ta tes n o te s ____
Treasury notes of 1 8 9 0 ..
N ational bank n o te s ____
Fractional silv er c o i n . . .
Fractional curren cy____
Minor c o in .......................
B onds and Interest p a id .

00
33
65
20
19
38
81

T o t. In Sub -T rcas’le s . 165,893,507 92
In N a t. B an k D epositaries—
Credit Treasurer of U . S .
38 ,0 6 5 ,0 5 8 70
Credit U . S d ls. officers.
13,586,472 13
T otal In b a n k s...............
51 ,6 5 1 ,5 3 0 92
In T reas. of P hlllpplno Isla n d s—
Cash balance arul reserve—
Credit Treasurerof U . S .
2 ,7 7 7 ,0 1 9 61
Credit U . S . d ls. officers.
2 ,2 5 5 ,1 7 0 26 T otal cash and reserv e. - 2 4 7 ,9 5 0 ,8 7 0 90
Made up ot—
T otal In P h ilip p in e s ..
5 .0 3 2 ,1 8 9 87 A v a ila b le .. 9 7 ,9 5 0 .8 7 0 90
and
:’..'serve Fund—
Reserve F u n d Holdings—
GOIdAbuII.150,0 00,000 00
G old coin and b u llion ___ 150,000,000 00
Grand to ta l....................1,723 ,6 7 0 ,0 9 7 71

Grand t o ta l....................1,723 ,0 7 6 ,0 9 7 71

T R E A S U R Y C U R R E N C Y H O L D I N G S .— T h e fo llo w in g
c o m p ila tio n , b a s e d o n o fficia l G o v e r n m e n t s t a t e m e n t s ,
sh o w s th e c u r re n c y h o ld in g s of t h e T r e a s u r y o n th e first of
J u n e , J u ly , A u g u s t a n d S e p te m b e r 1 909. Statements of

corresponding dates in previous years will he found in our issue
of Sept. 19 1 9 0 8 , page 7 1 8 .
T R E A S U R Y N E T H O L D IN G S .
J u n e 1 ’0 9 . J u ly 1 ’0 9 . A ug. I ’0 9 . Sept. 1 ’09.
Holdings In Sub-Treasuries —
$
$
$
$
N e t gold coin and b u llio n -- 2 2 4 .2 0 3 ,0 3 8
2 2 3 ,1 8 4 ,4 0 5 2 3 5 ,7 2 0 ,3 3 3 2 3 7 ,1 8 4 ,8 5 7
N e t silver coin and bull o n - 1 7 .720,757
17,865,627 1 9,172,878 17,084,953
N e t U n ited S ta tes T reasury n otes
8 ,8 1 2
10,013
12,879
12,725
N e t legal-tender nob s .......... 7 ,1 5 8 ,2 0 9
6,0 3 9 ,4 1 3
7,7 5 2 ,5 8 2
6,9 0 5 ,7 5 1
N e t national bank n o te s ---- 2 5 ,4 2 5 .7 3 4
2 3 ,4 1 5 ,0 6 2 27 ,4 0 0 ,9 7 7 2 0 ,9 0 2 ,0 2 4
N e t fractional s il v e r ............. 27,2.50,163
2 7 ,2 1 0 ,2 0 7 2 6 ,5 7 1 ,1 1 4 2.5,270,932
Minor coin , A c ................
2 ,6 4 1 ,3 4 9
2 ,0 1 6 ,7 9 8
2 ,4 5 7 ,4 7 2
1,93 2 ,2 6 0
Totat cash In S u b -T rca su rlcs..3 0 1 ,4 6 8 ,0 6 2 3 0 0 ,3 4 1 ,5 2 5 319,094,235(1315,893,508
Less gold reserve fu n d ....................150,000,000 1 5 0 ,000,000 1 5 0 ,000,000 150 ,0 0 0 ,0 0 0
c a s h b al. In S u b -T rea su ries.-.1 5 4 ,4 6 8 ,0 6 2 1 5 0 ,341,525 169,094,235 165 ,8 9 3 ,5 0 8
Cash In nation al b a n k s_________ 7 2 ,9 1 6 ,0 3 0 7 4 ,6 9 8 .6 1 5 5 4 ,0 2 2 ,7 4 6 5 1 ,6 51,531
Cash In Phlllpplno Isla n d s............. 4 ,2 8 2 ,8 0 8
4 ,1 5 2 ,0 7 3
5 ,9 0 1 ,2 7 2
5 ,0 3 2 ,1 9 0
N et Cash In bank3, S u b -T rca s.2 3 1 ,6 9 5 ,9 5 0 2 2 9 ,1 9 2 ,2 1 3 2 2 9 ,0 1 8 ,2 5 3 2 2 2 ,5 7 7 ,2 2 9
D edu ct current lla b llltle s .a _____111,795.641 1 0 1 ,738,372 120 ,5 8 0 ,4 9 8 1 2 4 ,6 2 6 .3 5 8
’ A vailable cash balan ce............... 119,901,309 124,453,841 1 0 8 ,437,755

0 7 ,0 5 0 ,8 7 1

1 a C hiefly "disbursing officers’ balances." d Inclu des $ 4 ,1 8 6 ,6 7 6 silv er bullion
n n d l$ l,032,26 m inor co in , &o„ n o t included In s ta te m en t " Stock of M oney."




819

T H E CHRO NICLE

. 2 1909.!

IH m t efimVI Cfmmu c v c u ilg n g l isftgpjettr#
(F r o m o u r o w n c o r r e s p o d e n t .)

London, Saturday, Sept. 25 1 9 0 9 .
T h o u g h U n ite d S ta te s S te e l sh a r e s h a v e a d v a n c e d s till
fu r th e r th is w e e k a n d o th e r A m e ric a n s e c u r itie s a r e a t v e r y
h ig h p r ic e s, t h e m a r k e ts , n o t m e r e ly in L o n d o n b u t in
E u r o p e g e n e r a lly , a r e d e p r e s s e d . T h is is n o d o u b t p a r tly
d u e to a m e a su r e o f a n x ie t y , or a t le a s t of u n c e r ta in ty , a s to
th e e ffe c t o f th e v a r io u s t a x e s p r o p o se d b y d iffe re n t F in a n c e
M in isters a n d C h a n cello rs of th e E x c h e q u e r to m e e t th e
d e fic ie n c y w h ic h a ll t h e c o u n tr ie s o f E u r o p e h a v e to f a c e .
In L o n d o n w e a r e c o n tin u in g r ig h t u p to th e e n d o f S e p te m ­
b er th e fierce fig h t o v e r th e b u d g e t . T h e v a r io u s in te r e s ts
w h o s e b u rd en s o f t a x a t io n a r e t o b e in c re a se d a re lo u d ly
c o m p la in in g t h a t lit t l e s h o r t of ru in s ta r e s th e m in t h e fa c e ,
a n d of c o u r se it c a n n o t b e d e n ie d t h a t u n til t h e e ffe c t o f t h e
n e w t a x a t io n is a s c e r ta in e d , s o m e d if f ic u lt y m u s t b e e x p e r i­
e n c e d in a d ju s tin g t h e v a r io u s tr a d e s a n d in d u s tr ie s to th e
n e w c o n d itio n s .
C o n so ls h a v e b e e n d e a lt in th is w e e k a t 8 3 1 -1 6 , w h ic h is
w ith in a v e r y sm a ll fr a c tio n o f th e lo w e s t p r ice r eco rd ed fo r
1 909 so fa r . H o m e ra ils a re v e r y fla t a n d te n d to g o w o r se .
T h is is p a r tly a sc r ib a b le to c a u se s w ith w h ic h y o u r r ea d ers
a re fa m ilia r a n d p a r tly to c o n tin u e d b a d tr a ffic s . F o r e ig n
p o litic s are u n u s u a lly q u ie t, a n d w e h a v e t h e c u r io u s s p e c ta c le
o f a fa ll in c o n so ls a n d a w e a k e r te n d e n c y fo r th e h ig h e s t
c la s s o f in v e s t m e n t se c u r itie s in L o n d o n , P a r is a n d B e r lin ,
a s w e ll a s o th e r C o n tin e n ta l fin a n cia l c e n tr e s , c o in c id e n t w ith
a c t iv e d e a lin g s in s u c h se c u r itie s a s d ia m o n d sh a r e s, W e s t
A frica n g o ld sh a r e s, ru b b er sh a r e s a n d t h e s e c u r itie s o f th o s e
g o v e r n m e n ts w h o se fin a n c e s a r e n o t fo r t h e m o m e n t e m ­
b a r r a sse d . A s th e s e m a r k e ts a re n a tu r a lly r e s tr ic te d , it
m e a n s t h a t v e r y l it t le b u sin e ss is b e in g d o n e in t h e s t o c k
e x c h a n g e s , ta k e n a s a w h o le . M ost o f th e se c u r itie s m e n ­
tio n e d a re n a tu r a lly o f a n e m in e n tly s p e c u la t iv e t y p e , a n d
in a n o r m a l tim e t h e y w o u ld b e ta k e n v ig o r o u s ly in h a n d ,
w h e n th e p r ice s o f w h a t w e m a y c a ll t h e h ig h er c la ss o f se ­
c u r itie s w e re p r o v e d to b e h ig h . S u c h , h o w e v e r , is v e r y
fa r fro m b e in g th e c a se a t th e p r e se n t tim e .
W ere n o t t h e fa ll in c o n so ls so e x t r a v a g a n t o n e m ig h t u r g e
t h a t i t w a s p a r tly d u e to th e o u tlo o k in t h e m o n e y m a r k e t.
H o w e v e r , th e r e is n o th in g r e a lly a la r m in g in th e m o n e ta r y
s it u a t io n , a s is e v id e n c e d b y th e f a c t t h a t d a y - t o - d a y f u n d s
a re e x c e e d in g ly d iffic u lt to e m p lo y p r o fita b ly , a n d le n d e r s
w h o h a v e s u c h fu n d s find it h ard to g e t m o re th a n 3^% ;
a n d e v e n for a w e e k or lo n g e r to h o ld o u t fo r a firm 1 % v e r y
o fte n m e a n s h a v in g t h e m o n e y le f t o n o n e ’s h a n d s . T h e r e
h a s , h o w e v e r , b e e n a v e r y la rg e a m o u n t w ith d r a w n fr o m
t h is m a r k e t m a in ly in c o n n e c tio n w ith th e E g y p t ia n c o tto n
c ro p . T h e d e m a n d is c o n sid e r a b ly la rg er th a n w a s a t first
a n t ic ip a t e d , a n d a s d is c o u n t r a te s , in th e a b s e n c e o f d is­
q u ie tin g f e a tu r e s , a re m a in ly g o v e r n e d b y t h e in te r n a tio n a l
g o ld d e m a n d ,t h e y sh o w a d is t in c t te n d e n c y to h a r d e n .
It
m a y b e r e c o lle c te d t h a t a b o u t a m o n th a g o i t w a s v ir t u a lly
im p o ss ib le to k eep th e th r e e -m o n th s r a te a t 1J^% h e r e .
N o w it is e q u a lly im p o ss ib le to d is c o u n t b ills b e lo w 1 1 3 -1 6 % ;
1 % is d e m a n d e d a n d r e c e iv e d , a n d e v e n 2 % is n o t in fr e ­
q u e n t ly a sk e d . T h e r e is a lr e a d y a d e m a n d fo r B r a z il, a n d
w e sh a ll s h o r tly h a v e to fa c e th e c o m m e n c e m e n t o f th e Ar­
g e n tin e d ra in , w h ic h w ill c o n tin u e r ig h t in to th e sp r in g . T h e
d o m in a n t fa c to r , h o w e v e r , is u n c e r ta in ty reg a r d in g t h e d e ­
m a n d for th e U n ite d S t a t e s . T h e s t a t e m e n t s o f t h e N ew
Y o r k b a n k s a re c a r e fu lly s c r u tin iz e d w e e k b y w e e k , a n d t h e
im p r e s sio n is g r o w in g t h a t a c er ta in a m o u n t o f g o ld w ill h a v e
to b e ta k e n a c r o ss t h e A tla n tic . M ea n w h ile ou r B a n k re­
tu r n m a y b e regard ed a s a fa ir ly str o n g o n e . T h e r e d u c tio n
in t h e g o ld h o ld in g d u rin g th e w e e k is w e ll u n d e r a m illio n
s te r lin g , th e t o t a l b e in g c lo s e to 3 9 mi l l i o ns s te r lin g . T h e
r eser v e a t ju s t u n d e r 2 9 m illio n s sh o w s a d e c re a se fo r t h e
w e e k o f v e r y n e a r ly a m illio n s te r lin g , a n d is m o re th a n h a lf
a m illio n le s s th a n a t th is t im e la s t y e a r .
T h e In d ia C ou n cil offered fo r te n d e r o n W e d n e s d a y 2 0 la c s
o f i t s b ills , a n d th e a p p lic a tio n s a m o u n te d to 241 la c s , a t
p r ice s r a n g in g from I s . 3 2 9 -3 2 d . to I s . 4 d . p er r u p e e . A p ­
p lic a n ts for b ills a t I s . 3 3 1 -3 2 d . w e re a llo t t e d a b o u t 5 0 %
of th e a m o u n ts a p p lie d for.
T h e fo llo w in g s t a t e m e n t sh o w s th e p o s itio n o f th e B a n k o f
E n g la n d , th e B a n k r a te o f d is c o u n t, t h e p r ic e o f c o n s o ls ,
& c ., c o m p a r e d w ith th e la s t fo u r years:
1909.

1908.

Sept. 2 2 .

Sept. 23.

£
2 8,9 6 7 ,9 0 5
8 ,9 9 8 ,3 0 6
4 5 ,7 09,787
15,329,192
28,7 6 8 ,6 4 0
2 8 ,8 9 1 ,2 1 0
3 9 .4 0 9 ,1 1 5

£
28 ,8 0 2 ,6 8 5
7 ,6 3 9 ,5 3 4
4 4 ,2 92,844
15,532,293
26,500,151
28 ,2 1 8 ,1 5 5
3 8 ,5 7 0 ,8 4 0

1907.

1906.

Sept. 25.

Sept. 26.

£
29 .1 7 9 ,3 7 5
9 ,3 0 1 ,9 8 9
45 ,2 8 4 ,5 9 4
1 4 ,3 38,076
3 0 ,6 0 6 ,5 1 5
28 ,0 3 9 ,2 9 2
38 ,7 6 8 ,6 6 7

£
2 9 .0 9 0 ,7 5 0
11,325,517
4 3 ,1 9 6 ,6 8 5
1 5,958.452
33 ,5 8 4 .8 1 2
2 3 ,3 81,416
3 4 ,0 2 2 ,1 6 6

1905.

Sept. 27.

£
29.27 1 ,4 2 5
C ircu la tio n ________
14,203,316
P u b lic d e p o sits-----45,1 6 9 ,2 3 2
O ther d e p o sits..........
18,667.070
G o v em m ’t secu rities
35,2 9 7 .1 6 0
O ther se cu ritie s-----R eserve, notes& coln
2 3,807,561
34,6 2 8 .9 9 6
C oln& bull..both dep
P ro p , reserve to lia ­
54 5-16
52 M
40
42J*
b ilitie s.......... -p . c.
51H
2 >A
2 >4
4
4
B a n k r a te .......... p. c.
83 3-16
85 11-16
89 9-16
86^
82 M
C onsols, 2 H P- <'•--24d.
31 l-1 6 d .
31 7 -1 6d.
S l iv e r ........................... 23 11-1*1.
28 M d .
C lcar.-house returns 2 1 0 ,6 5 3 ,0 0 0 1 8 7 ,0 1 7 ,0 0 0 2 0 4 ,1 6 2 ,0 0 0 194 ,2 5 1 ,0 0 0 187.852,000

T h e q u o ta tio n s for b u llio n are r e p o r te d a s fo llo w s:
G O LD .

London Standard.
Rar gold, fine, o z ___
U. S. gold coin . o z . . .
G erm an gold coin , oz.
F rench gold coin , c z Ja p a n ese y e n ...............

Sept. 2 3 . Sent. 16.
S IL V E R .
Sept. 23. Sept. 16.
s. d.
s. d.
d.
London Standard.
d.
. 77 10H 77 1 1 H B a r sllv e r , fine, o z ____23 11-16 23 H
. 76
76 6H
“ 2 m o. deliv ery , o z . 23 11-16 23 >A
.7 6
7 6 6 H Cake silv er, o z ...............25 9-16
25 H
n om .
- 76 S H 7 6 6% M exican dollars.............nom .
. 76 5 * f 70 6 H

T h e r a te s for m o n e y h a v e b e e n a s fo llo w s:
B an k o l England r a te ...............
Open M arket rate—
B ank bills— 60 d a y s _____
— 3 m o n th s____1
— 4 m o n th s____
— 6 m o n th s____
T rade bills— 3 m o n th s-----— 4 m o n th s____
I nlcresl allowed /or deposits —
B y join t-stock b ank s...........
B y d iscou n t houses—

Sep. 23.
2'A
1% @ 1 7 -1 6
H -16@ 1%
2 1 16@2%
2% @ 2 5-16
%
%

22
1
1
1%

A t call......... - - .............. 7 to 14 d a y s .........................

Sept. 17.

Sept. 10.

2%

2%

1% @ 1 7-16
1 % © 1 9-16
2%
2% @ 2%
%
%

Sept. 3.
A

2

1 5-16
1 7-16
2 1-16
3-16@ 2%
@2%
%

1% @ 1 5-16
i%
1 15-16
2 % @ 2 3-16
@2%
%

2

2
2
1
1
1%

i%

2

2
1
1
1%

2
1
1
1%

T h e b a n k r a te s o f d is c o u n t a n d o p e n m a r k e t r a te s a t th e
c h ie f C o n tin e n ta l c itie s h a v e b e e n a s fo llo w s:
Rates 0/
Interest at—

Sept 18.
B ank Open
Rate. M arket.

P a r i s ................................
B erlin ________ _______
H am b u rg .........................
F rankfort ......................
A m sterdam .......... .......
B r u s s e l s .........................
V ienna ...........................
S t . P e ter sb u r g -..........
M adrid..............................
C o p e n h a g e n ..................

M essrs. P ix lc y
S e p t. 2 3 :

3

2'A

3%
3%
2%
3
4
5
4%
4%

Sept. 11.
B ank Open
Rate. M arket.
3
3%
..
3%

1%
3M

2'A
2'A

1 9 -1 5
2

3A
n om .
3
3%

2'A
2'A

3
4
5

4'A
4'A

1%
2%

2A
1%
1%

3A
nora.
3
3 'A

Sept. 4 .
A u g . 28.
B ank Open Bank Open
Rate. M arkct.Rate. Market.
3
3%
3%
3%
2%
3
4
5
4%
4%

1%
2%
2%
2%
1%
1%
3%
nom .
3
3%

3
3%
3%
3%
2%
3
4
5%
4%
4%

1%
2%
2%
2%
1%
1%
3%
nom .
3%
3%

B A N K N O T E S— C H A N G E S IN TO TA LS O F, A N D IN
D E P O S I T E D B O N D S , & c.— W e g iv e b e lo w ta b le s w h ic h
sh o w a ll th e m o n th ly c h a n g e s in b a n k n o te s a n d in b o n d s
a n d leg a l te n d e r s o n d e p o s it. The statement for August 1908
will he found in our issue for Sept. 2 6 1 9 0 8 , page 7 8 9 .
Bonds and Legal-Tenders
on Deposit for
B ank Circulation.
1908-09.

A u g.
J u ly
Juno
M ay
April
M ch.
Feb.
Jan .
D ec.
N ov.
O ct.
S ep t.

3 1 -----3 1 -----3 0 -----3 1 -----3 0 ____
3 1 ____
2 8 ____
3 0 -----3 1 ____
3 0 ____
3 1 ____
3 0 ____

Bonds.

LegalTenders.

S
6 7 2 ,9 2 5 ,7 0 0
6 6 7 ,6 5 2 ,6 5 0
66 0 ,6 8 9 ,0 7 0
6 5 7 ,9 7 2 ,9 7 0
6 5 3 ,9 0 1 ,9 1 0
6 5 1 ,2 6 7 ,1 3 0
640,7 6 9 ,1 4 0
63 5 ,2 1 4 ,5 6 0
63 1 ,3 1 8 .7 9 0
6 1 8 ,4 9 7 ,9 4 0
63 2 ,6 2 4 ,8 5 0
6 3 2 ,8 7 1 ,8 9 0

S
20,5 8 1 ,7 7 9
2 7 ,845,433
3 0 ,2 4 0 ,6 6 6
3 1 ,914,847
34,2 4 3 ,0 5 7
3 8 ,2 6 5 ,2 2 5
42,6 9 6 ,7 1 5
46,3 6 3 ,4 5 5
4 8 ,2 8 1 ,9 6 0
52,2 7 0 ,9 1 2
39,0 6 0 ,4 3 7
48,6 3 9 ,4 4 2

Clrcidation A /lsa t Under —

Bonds.
$
672,2 6 3 ,6 9 5
667,508,731
65 9 ,6 7 3 ,4 0 8
656,2 6 8 ,2 0 8
65 3 ,1 6 4 ,5 7 0
6 4 6 ,1 4 2 .3 9 0
635.5 8 8 .8 8 5
6 30,300,637
62 8 ,7 8 6 ,2 0 5
61 4 ,9 0 7 ,2 6 5
62 6 ,7 7 9 ,3 5 0
62 0 .9 7 2 .8 8 5

LegalTenders.

Total.
$
698,8 4 5 ,4 7 4
6 95.354.164
689,920,074
6 8 8 ,1 8 3 ,1 1 5
6 87,408.227
6 84,407,615
6 7 8 ,2 8 5 ,6 0 0
0 7 6,673,092
67 7 .0 6 8 .1 6 5
6 0 7,178,177

$
2 6 ,5 8 1 ,7 7 9
27,8 4 5 ,4 3 3
3 0 ,2 4 6 ,6 6 6
3 1 ,9 1 4 ,8 4 7
34,2 4 3 ,6 5 7
3 8 ,2 6 5 ,2 2 5
4 2 ,6 9 6 ,7 1 5
4 6 ,3 6 3 ,4 5 5
4 8 ,2 8 1 ,9 6 0
5 2 ,270,912
3 9 ,0 6 5 ,6 3 7
48,6 3 9 ,4 4 2

065,844,087
675,612,327

& A b ell w r ite a s fo llo w s u n d e r d a te of

G O L D .— T h e dem and for R u ssia, althou gh n o t so keen as la st w eek, has still sufIced to take all m ark et arrivals, the price being o.uotcd one penny low er a t 77s.
10% d. The dem and has been stronger for th e la st d a y or tw o , and It is ex pected
th a t n e x t w eek ’s arrivals, am ounting to £ 9 5 6 ,0 0 0 , from Sou th A frica will be readily
absorbed. T h e dem and for E g y p t and Brazil s till co n tin u es, and th e B an k has lest
already £ 6 2 9 ,0 0 0 for th e form er, w hile further large w ithdraw als are expected;
£ 1 0 0 ,0 0 0 has also been taken for T u rk ey and £ 6 ,0 0 0 for L isbon. A rrivals— South
Africa, £ 4 7 4 ,0 0 0 ; A ustralia. £ 3 0 ,0 0 0 ; W est Indies, £ 2 0 ,0 0 0 ; W est A frica, £ 5 5 ,0 0 0 ;
to ta l. £ 5 7 9 ,0 0 0 . Sh ip m en ts— B om b a y , £ 5 7 ,0 0 0 ; C alcutta, £ 1 0 ,0 0 0 ; to ta l, £ 6 7 ,0 0 0
S IL V E R .— T here has been less a c tiv ity in th e m ark et, th e price being fixed day
after clay at a level at w hich buyers and sellers ha v e been disinclined to in ect.
China has offered som ew h at freely a t slig h tly over current rates, a lthou gh a t tim es
th e y h a v e m et th e m arket to a m oderate e x te n t. Indian speculators have been
w illing to buy on any sign of w eakn ess, In sp ite of their qu o ta tio n s being under parity,
and there h a v e also been purchases on China a cco u n t. T h e chief support has com e
from the C on tinent, althou gh th e volum e of buy in g has probably not been very large.
A m erica has sold sparin gly, althou gh sh ip m en ts to th is country show little dim inu­
tio n . T h e sto c k In B om bay Is now 14,750 bars, a reduction of 1,000 bars during
th e p ast ten d ays, w hich is an eacouraglng feature, and the stren g th of th e B om bay
e xch an ge, w hich Is now Is. 3 31-32d. Is im portant, too, as show ing th a t bills are be­
com ing m ore plentiful. T h e price closes a t 23 ll- 1 6 d ., w ith a stea d y tone. T he price
In India Is Its. 60% per 100 tolahs. Arrivals— N ew Y ork, £ 2 0 6 ,0 0 0 ; M exico, £ 4 ,0 0 0 ;
W est Indies, £ 5 ,0 0 0 ; to ta l, £ 2 1 5 ,0 0 0 . S h ip m en ts—B o m b a y , £ 2 0 ,0 0 0 ; P o rt Said,
£ 1 ,4 0 0 ; to ta l, £ 2 1 ,4 0 0 .

T h e fo llo w in g sh o w s th e im p o r ts o f cereal p r o d u ce in to
th e U n ite d K in g d o m d u rin g th e s e a s o n to d a t e , c o m p a r ed
w ith p r e v io u s se a so n s:
IM PO R T S.
Three tceeks—
1909-10.
.............. c w t . 8 ,3 1 3 ,2 0 0
Im ports of w h e a t
B arley ............
1,6 9 4 ,0 0 0
O a t s - . . ...................
1 ,235,200
P e a s ______ _______________________
77 ,0 3 0
B e a n s _________
158,520
Indian co rn _______________________ 1,3 4 7 ,8 0 0
Flour ___________________________
5 62,900

1908-09.
5 ,5 1 9 ,1 0 0
2 ,3 9 7 ,4 0 0
6 1 0,300
4 3 ,5 8 0
9 6 ,660
2 ,9 1 8 ,8 0 0
5 9 9,800

1907-08.
6 ,3 1 9 ,1 0 0
1 .631.200
2 3 9,400
5 3 ,950
16,760
2 .7 3 6 .2 0 0
70 8 ,5 0 0

1906-07.
6 ,8 5 7 .6 0 0
2 ,1 3 9 ,0 0 0
7 9 7,300
142,810
153,670
3 ,7 4 5 .5 0 0
80 3 ,2 0 0

S u p p lie s a v a ila b le for c o n s u m p tio n ( e x c lu s iv e o f s t o c k on
S e p te m b e r 1):
1909-10.
W h eat Im p orted -.....................c w t- 8 ,3 1 3 ,2 0 0
Im p orts of Hour............................
5 6 2,900
Sales of hom e-grow n.............- ........... 1,0 4 4 ,1 8 6

1908-09.
5 ,5 1 9 ,1 0 0
5 9 9,800
1 ,604,504

1907-08.
6 ,3 1 9 ,1 0 0
70 8 ,5 0 0
3 ,3 2 5 ,7 3 6

T otal ................................................... 9 ,9 2 0 ,2 8 6
A verage price of w h ea t, w e e k -----33s. 6d.
A verage price, se a so n ____________
3 5 s. 2d.

7 ,7 2 3 ,4 0 4
31s. 7 d .
31s. 3d.

1 0 ,3 5 3 ,3 3 6
3 1 s. 5d.
31s. 7d.

1906-07.
6 ,8 5 7 ,6 0 0
80 3 ,2 0 0
1 ,941,689
9 ,6 0 2 ,4 8 9
25s. l i d .
25s. lOd.

T h e fo llo w in g sh o w s th e q u a n titie s o f w h e a t , flour a n d
m a iz e a flo a t to th e U n ite d K in g d o m :
T his week.

W heat
_ ...........................q r s. 1,4 7 0 ,0 0 0
Flour equal to ___________q r s .
20 0 ,0 0 0
M aize - - - - - - ...........................q r s.
84 0 ,0 0 0

Last week.
1,6 8 0 ,0 0 0
180,000
8 7 5 ,0 0 0

1908.
1,5 3 0 ,0 0 0
15a,000
68 5 ,0 0 0

1907.
1,8 8 5 ,0 0 0
23 5 ,0 0 0
9 4 5,000

E n g lis h F in a n c ia l M a r k e ts — P e r C a b le .
T h e d a ily c lo s in g q u o ta tio n s for s e c u r itie s , & c ., a t L o n d o n ,
a s r ep o rte d b y c a b le , h a v e b e e n a s fo llo w s th e p a s t w eek :
London,
Week ending Oct. 1.

Commercial and ^TvlsccIlaueaiiJSiXcibS

Sat.

23
Silver, p e r o z _____________ d Consols, new . 2% per c e n ts . - 82
F o r a c c o u n t.......... .................... 82

French Rentes (In Parls).fr.. 97.45
Amalgamated Copper Co. - 85%
Anaconda Mining Co_____ . 10%
Atchison Topeka A Santa Fe 121 %
Preferred...................... . . . .107
Baltimore A Ohio................... .120%
Preferred..............................- 97%
Canadian P acific.................... .188%
Chesapeake A-Ohio................ 85
Chicago MUw. A St. P a u l....164%
Denver A Rio Grande............ 48%
Preferred_______________. 88
Erie ....................................... .. ■ 35%
First Preferred ................. . 53
Second preferred------------- 4.3%
Illinois C entral-___________ .156
Louisville A Nashville_____ -156%
Missouri Kansas A T e x a s.. - 42%
Preferred...................... ....... . 76
Nat. UR. of Mex., 1st pref. . 60%
Second preferred_______ ■ 25%
N. Y. Central A Hudson ltlv.139%
N. Y. Ontario A Western . - 50%
Norfolk A W estern......... .. . 96
Preferred. ........................... . 93
Northern Pacific__________ .160%
a P e n n sy lv a n ia ___ _____ . 76
o R ea d in g______________ - 85%
a First preferred________ - 47%
a Second preferred.......... - 51%
Rock Isla n d ........................... - 39%
Southern Pacific------- -------- -132%
Southern R a ilw a y ............... - 31%
Preferred............................ - 71%
Union Pacific -------------------- .208%
Preferred........................ - - .108%
U. S. Steel Corporation----- - 87%
Preferred............................. .132
Wabash ................................ - 20%
Preferred......... ................... - 51%
Extended Is . . . . . . . . . . . 77
a Price per share. 4 £ sterlin g.
b




M on.

Tnes.

Wed.

Thnrs.

F rt.

11-16 2 3 5<£ 23% 23 11-16 2 3 5a
23%
15-16 83 1-16
83% 83
1-16
15-16
83 1-16
83% 83
1-16
----------- 97.27%
----------- 97.47
—
■ 9 7 -37j^
— •_
97.27%
97.45
85
85%
85
86%
86%
10
10%
10%
10%
10%
127%
123%
126%
127%
122
108
107
107 'A
107%
107
121%
120%
122%
122 %
120%
98
97%
98
98
97%
193
190%
191%
191%
189%
89%
91%
85%
86%
85%
166
167
167
165%
165%
47%
48
48%
48%
48%
88
88
88
88
88
34%
34%
34%
34
35%
51
51
50%
51%
53
40%
40%
41%
39%
43%
157
157
1158
156%
156%
157
156%
157
156
156
42%
42%
43
42%
42%
(0%
76%
77
70%
76%
61
61
61
60%
60
25%
25%
20
25%
25%
140%
141
141%
141
140
52
51%
51
50%
50%
98%
98
97%
96
96
93
93
93%
93%
93
160%
161
162
160%
161
77%
77%
77%
76%
76%
86%
87%
86%
80%
86
47%
47%
47%
47%
47%
51%
51%
51%
51%
51%
40%
41
41
39%
39%
136%
136%
136
134%
133%
3l%
31%
32
31%
31%
72%
72%
73
71%
71%
215
215%
213%
209%
211%
111%
111
109%
108%
111%
91%
91%
90%
92%
88%
133%
132%
133
132%
1 S 3 }4
20
20
21
21
20%
50%
53
51%
51%
51 3^2
75
75
77
77
77

T h e fo llo w in g sh o w s th e a m o u n t o f e a c h c la ss o f b o n d s
h e ld a g a in s t n a tio n a l b a n k c ir c u la tio n a n d to se c u r e p u b lic
m o n e y s in n a t io n a l b a n k d e p o s ito r ie s on A u g . 3 1 .
17. S . Bonds Held A ug. 31 to Secure —

B ank
Circulation.

AUQ. 31 1909.

1 4 ,054,050
14,2 3 2 ,3 2 0
57 0 ,0 6 0 ,9 5 0
4 9 ,0 7 3 ,9 0 0
2 5 ,5 0 4 ,4 8 0

4% U . S . L oan of 19 2 5 ........................
3% U . S . Loan of 1 908-18.................
2% U . S . Consols of 1930....................
2% U . S . P anam a of 1936.................
2% U . S . Panam a of 19 3 8.................
4% Philippine L oans and R a ilw a y .
4% Porto R ico L oan s............... ...........
3.65% D istrict of C olum bia...............
Territory of H a w a ii................................
S ta te , C ity and R ailroad ......................

67 2 .9 2 5 ,7 0 0

T otal

Total
Held.

PubllcDcposUs in Banks.
$
7 1 0.700
8 3 5,400
3 4 2.700
2 8 9,500
141.000
4 5 2.000
37 4 .0 0 0
820.000
543,000
12 ,9 99,500

1 7 ,7 6 4 ,7 5 0
18,0 6 7 ,7 2 0
5 9 5 ,4 0 3 ,6 5 0
5 2 ,3 6 3 ,4 0 0
2 6 ,0 4 8 ,4 8 0
4 ,4 5 2 ,0 0 0
37 4 .0 0 0
8 2 0.000
5 4 3,000
1 2 ,9 9 9 ,5 0 0

5 6 ,5 1 0 ,8 0 0

7 2 9 ,4 3 6 ,5 0 0

T h e fo llo w in g sh o w s th e a m o u n t o f n a tio n a l b a n k n o t e s
a flo a t a n d th e a m o u n t of le g a l-te n d e r d e p o s its A u g . 1 a n d
S e p t . 1 a n d th e ir in c r e a se or d e c re a se d u rin g th e m o n th of
A u g u s t.
National B ank Notes— Total Alloat—
A m o u n t afloat A u gust l 19 0 9.................................................................................... $ 6 9 5 ,3 5 4 ,1 6 4
N e t a m o u n t Issued during A u g u st...........................................................................
3 ,4 9 1 ,3 1 0
A m ount of bank notes afloat Septem ber 1 19 0 9......................................... $ 6 9 8 ,845,474
Legal-Tender Notes —
A m ount on d eposit to redeem national bank notes A u gust 1 190 9.............$27,8 4 5 ,4 3 3
N e t a m o u n t of bank n otes redeem ed In A u g u st..............................................
1 ,263,654
A m ount on d eposit to redeem national bank n o tes S eptem ber 1 1 9 0 9 . $2 6 ,5 8 1 ,7 7 9

G O V E R N M E N T R E V E N U E A N D E X P E N D I T U R E S .—
T h r o u g h t h e c o u r te s y of th e S e c r e ta r y o f th e T r e a s u r y , w e
a re e n a b le d to p la c e b efo re ou r r ea d ers t o - d a y t h e d e ta ils of
G o v e r n m e n t r e c e ip ts a n d d is b u r s e m e n ts for th e m o n th of
A u g u s t in 1909 a n d 1908 a n d fo r t h e tw o m o n th s of th e
fiscal y e a r .
GOVERNM ENT

R E C E IP T S

AND

D IS B U R S E M E N T S .

R E C E IP T S .
J u ly ’09. A u g . '09. 2 M os. J u ly ’08. A u g . ’08.

(000s omitted )—
C u stom s.......................................$29,963
Internal rev en u e...................... 2 2 ,562
M isc e lla n e o u s........................... 5,052
T o ta l re ce ip ts....................$57,577

$2 8 ,5 9 0
19,719
2 ,7 7 3

$ 5 8,553
42,281
7 ,8 2 5

$ 5 1,082 $10 8 ,6 5 9

$1 9 ,4 7 5 $2 2 ,2 6 6
2 0 ,982
19.520
8 ,7 3 3
2 ,894
$4 9 ,1 9 0

$4 4 ,0 8 0

D IS B U R S E M E N T S .
J u ly ’09. A u g . ’0 9 .
2 M os. J u ly ’0 8 . A u g . ’08

(000s omitted.)
Civil and m iscellaneous— $18,463
W a r ...............................................22,179
N a v y ____________________ 11,345
I n d i a n s __________________
1,522
83%
83%
P en
s io n s ..................................
13,936
83 3-16
P osta83
l d3-16
eficien cy ------------1,500
In terest on public d e b t__
3 ,279
P anam a C an al.....................
3 ,0 7 0

T o ta l d isb u rsem en ts____$ 75,294
Less repaym ent of un ex ­
1,543
pended b a la n c e s._______
$73,751

$14,231
12,716
10,110
1,952
15,755
3 ,0 0 0
1,889
2,004

$32,694
3 4 ,895
2 1 ,455
3 ,474
29,691
4 ,500
5 ,1 6 8
5,074

$ 6 1,657 $130,951
1,159

$19,273
22,367
9 .876
1,759
13,888
4 ,0 0 0
3 ,2 7 0
4 ,092

$7 8 ,5 2 5

2 ,7 0 5

3 ,0 4 2

$ 6 0 ,4 9 8 $ 1 3 4 ,2 4 6

S75.483

$ 13,958
10,195
8 ,2 6 9
2 ,1 6 4
14,288
1,731
1,643

2 M os.
$41,741
40,502
11,627
$9 3 ,8 7 0
2 M os.
$33,231
3 2 ,562
18,145
3 ,9 2 3
2 8 ,1 7 6
4 .0 0 0
5.001
6,7 3 5

$5 2 ,2 4 8 $ 1 30,773
2,491

5,5 3 3

$4 9 ,7 5 7 $ 1 2 5 ,2 4 0

S T O C K O F M O N E Y I N T H E C O U N T R Y .— T h e fo llo w in g
ta b le sh o w s th e g e n e ra l s to c k of m o n e y in th e c o u n tr y a s w ell
a s th e h o ld in g s b y th e T r e a s u r y , a n d th e a m o u n t in c ir cu la ­
tio n on th e d a t e s g iv e n . The statement for Sept. 1 1908 will
be found in our issue of Sept. 19 1 9 0 8 , page 7 1 9 .
-Stock of M oney Sept. 1 1 9 0 9 - — Money in Clrcidation —
I n United
Held in
Sept. 1
Sept. 1
States.
Treasury, d
1908.
1909.
G old coin and b u llio n ___ *1,6 3 6 ,4 9 5 ,7 8 3 189,264,157
G old ccrtlflcateS-O .............. - ........................ 4 7 ,9 2 0 ,7 0 0
Standard silv er do lla rs------ 5 6 4,139,812
3,996,831
Silver certlllc a te s . a ----------— ...............
9 ,5 0 1 ,4 4 6
Subsidiary s ilv e r _________
155,766,307 2 5 ,2 7 0 ,9 3 2
4,1 2 0 ,0 0 0
i2 ,7 2 5
T reasury n o tes of 1890— U n ited S ta tes n o te s ----------- 346,6 8 1 ,0 1 6
6,9 0 5 ,7 5 1
N ational bank n o t e s - - - - - - 698,845,474 2 6 ,9 0 2 ,0 2 4

$
5 8 7,838.757
811,4 7 2 ,1 6 9
72.5 5 6 .9 8 1
478,0 8 4 .5 5 4
1 3 0,495,375
4 ,1 0 7 ,2 7 5
3 3 9 ,7 7 5 ,2 6 5
6 7 1 ,9 4 3 .4 5 0

61 9 ,9 9 0 ,2 6 3
80 6 .6 5 3 ,1 0 9
7 4 ,8 9 1 ,0 9 5
47 5 ,0 8 3 ,7 2 3
124,005,574
4 ,8 3 7 ,4 1 8
3 4 1 ,3 1 1 ,9 2 6
6 3 0 ,6 3 3 ,8 0 0

T o ta l
.........................3 ,4 0 6 ,0 4 8 ,3 9 2 3 0 9 ,7 7 4 ,5 6 6 3 ,0 9 6 ,2 7 3 ,8 2 6 3 ,0 7 7 ,4 0 6 ,9 0 8
P opu lation of th e United S ta tes S e p t. 1 1909 estim a ted a t 89,1 6 5 ,0 0 0 ; circula­
tion per ca p ita , $34 7 3 .
* A revised e stim a te by the Director of the M int of th e sto ck of gold coin was
adopted in the sta te m en t for Aug. 1 1907. T here was a reduction of $ 1 3 5 ,0 0 0 ,0 0 0 .
a For redem ption of o utstand ing certiflcates an ex a c t eq u iv a le n t In a m ount of
th e appropriate kinds o f m oney is held In th e T reasury, and Is n o t Included In the
a ccount of m oney held as a ssets of the G overnm ent.
d T h is sta te m en t o f m oney held In the T reasury as a ssets of the G overnm ent
docs not include deposits of public m oney In national bank d ep ositaries to the crodlt
of the Treasurer of the U n ited S ta tes, a m ounting to $ 3 8 ,0 6 5 ,0 6 8 79.

F O R E IG N
T R A D E OF N E W
Y O R K — M ONTHLY
S T A T E M E N T .— In a d d itio n to th e o th e r ta b le s g iv e n in
th is d e p a r t m e n t , m a d e u p from w e e k ly r e tu r n s, w e g iv e th e
fo llo w in g fig u res for th e fu ll m o n t h s , a lso issu e d b y o u r N e w
Y o rk C u sto m H o u s e . T h e first s t a t e m e n t c o v e r s th e to ta l
im p o r ts a n d e x p o r ts o f m e r c h a n d ise a n d th e C u sto m s re­
c e ip ts fo r th e e ig h t m o n th s o f th e la s t tw o y e a rs:
Merchandise Movement to New York.

January February..
M a r c h ___
A p r i l -----M a y ..........
J u n e ..........
J u l y ..........
A u g u st__

Customs Receipti
at New York.

Exports.

Imports.

M onth.
1909.

1908.

1909.

S
61,789,335
73,074,545
80.729.503
75,898,544
69.230.504
73,252,301
6S,687,013
68,295,105

$
47.489.941
5 0 ,359,343
52,6 2 5 ,8 2 8
5 3 ,605,913
5 0 ,2 5 5 ,0 4 2
5 0 ,6 0 4 ,9 3 0
49,729.151
50,4 4 5 ,7 8 0

$
50.812,004
45,319,475
5 8 ,684,184
5 1 ,709.272
4 8 ,571,972
5 2 ,404,342
50,5 8 3 ,4 7 8
49,2 1 2 ,3 6 0

1908.

1909.

$
$
6 2 .5 3 1 ,6 9 0 1 5 ,795,700
59,9 9 9 ,7 2 6 1 7 ,775,728
5 8 ,1 1 6 ,7 9 5 19,064,331
5 7 ,4 3 6 ,1 4 2 18,802,924
47,5 2 9 ,6 3 7 1 6 ,846,056
5 1 ,1 3 7 ,5 2 2 17,318,187
47,4 8 9 ,3 8 1 20,7 2 8 ,7 1 7
4 5 ,1 0 7 ,3 5 2 19,732,558

1908.
$
14,640,446
1 5 ,241,050
14,086,404
1 3,787,445
12,303,743
13,108,456
14,4 1 7 ,0 3 6
1 4 ,517.500

T o t a l . . . 570.956,850 405,115,928 407,297,087 429,3 4 8 ,2 4 5 146,064,201 112,102,086

T h e im p o r ts a n d e x p o r ts o f g o ld a n d silv e r for th e e ig h t
m o n th s h a v e b een a s fo llo w s:
Gold Movement at New York.
Imports.

M onth.

1908.

1909.
January _____
February ____
M a r c h _______
A p r i l ............... ..
M a y .......... .........
Juno ________
J u l y ...................
A u g u st...............
T o ta l_______

714,693
819,731
2,728.363
742,911
619.503
578,263
470,018
600.503

Receipts at—

Flour.
Wheat.
Corn.
Oats.
j Barley.Rye.
bbls.lOGIbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushASlbs. bu .56 lbs.
C h ic a g o ____
243,595
6 5 4,626
2 ,4 3 0 ,0 0 0
1 ,9 7 9 ,4 0 0
5 79,900
35.000

M ilw au kee. .
D u lu th _____
M in neapolis.
T o le d o _____
D e t r o i t - ___
C leveland . .
S t. L o u is ___
P e o r ia _____
K ansas C ity.

9 8 ,175
178,250

T o t.w k .’OO
Sam e w k . ’08
Sam e w k. ’07

3 3 7 ,7 0 0
4 ,7 6 8 ,5 2 5
3 ,1 5 5 ,0 4 0
163,000
47,255
13,438
6 0 7,699
28,000
5 9 9,550

161,700
14,725
6 4 ,440
5 5 ,2 0 0
4 3 ,528
85,307
28 1 ,1 0 0
3 2 5 ,6 0 0
1 41,900

150.000
3 2 4,113
691,010
117.000
5 4 ,029
102,849
5 2 4,650
114.000
148,500

59 7 ,6 0 0
1,0 2 4 ,3 8 0
99 7 ,2 0 0
"3^312
8 0 ,4 0 0
3 6 ,0 5 8

5 .000
8 .000

6 5 7,188
5 7 9,402
3 2 6,564

10,374,833
1 2,678,388
6,6 8 4 ,7 9 1

3 ,6 0 3 ,5 0 0
2 ,8 2 2 ,7 2 8
7 ,0 3 2 ,2 0 2

4,2 0 5 ,5 5 1
5 ,8 7 8 ,8 7 8
5 ,8 8 1 ,9 4 0

3 ,3 1 8 ,8 5 0
4,7 9 9 ,9 2 7
3 ,9 0 4 ,7 9 6

2 0 5,598
278,789
335,177

Since A ug. 1
1909_____ 3 ,9 5 0 ,0 1 6
19 0 8........... 3 ,5 4 1 ,5 1 2
190 7 _____ 2 ,9 3 8 ,9 7 0

5 7 ,5 8 5 ,4 9 7
6 2 ,6 8 2 ,7 7 6
5 0 ,8 2 7 ,4 4 5

2 6 ,6 2 4 ,0 8 8
2 1 ,5 8 3 ,3 9 6
3 4 ,9 1 8 .6 2 5

6,847
2,131
66 ,3 4 0
63 ,8 5 0

Imports.

1908.

7 ,5 8 5 ,7 5 9 7 ,8 4 3 ,1 2 5
66 ,9 2 5
1,300,840 8 ,8 1 8 ,2 2 0
030,087
1,925,862 21,1 7 3 ,3 8 5
135,985
900,777 0 ,2 6 9 .4 5 0 1 1 ,677,173
1,471,272 11,094.572 2 5 ,5 6 8 ,2 2 0
989,058 5 ,2 3 3 ,0 5 0 7 ,9 8 7 ,6 5 3
569,701 1 3,405,800 1,0 5 9 ,6 5 6
1,100,130 2 ,8 4 7 ,4 7 0
8 ,4 0 0

7,27 3 ,4 4 5 15,843,489 7 0 ,6 8 5 ,0 7 2 4 7 ,1 4 0 ,1 0 5

Exports.

1909. j

1908.

6 41,580
612,183
606,421
550,733
7 0 7,120
844,364
507,942
523,787

3 ,9 3 7 ,6 4 9
3 ,9 0 4 ,9 1 3
3 ,7 0 7 .3 4 4
3 .9 0 8 .9 1 5
3 ,4 8 0 ,4 9 4
4 ,144,201
4 ,0 6 8 .8 4 3
3 ,6 0 9 ,1 8 7

5 ,0 5 4 ,1 3 0 3 0 ,8 8 7 .5 4 0

1 9 .0 0 0
26 ,0 3 8
103,560
9,000-

3 7 .8 3 5 ,3 7 6 12,186,257 1,641,373
3 7 ,7 8 8 ,8 4 9 20,7 8 3 ,2 8 2 1,674,711
4 7 ,2 8 7 ,0 8 8 1 0 ,997,297 1,450,751

t o t a l r e c e ip ts o f flour a n d g r a in a t th e se a b o a r d p o r ts fo r
th e w e e k e n d e d S e p t. 25 190 9 fo llo w :

Silver— N ew York.

Exports.
1909.

B r e a d s t u f f s F ig u r e s B r o u g h t fr o m P a g e 8 6 4 .— T h e s t a t e ­
m e n t s b e lo w are p r e p a r e d b y u s fr o m figu res c o lle c te d b y
th e N e w Y o r k P r o d u c e E x c h a n g e . T h e r e c e ip ts a t W e ste r n
la k e a n d r iv e r p o r ts for th e w e ek e n d in g la s t S a tu r d a y a n d
s in c e A u g u s t 1 for e a c h o f th e la s t th r e e y e a r s h a v e b een :

Flour,

Receipts at —
bbls.
N ew Y ork - ............. 172,408
B o s t o n .......................
40,849
P h ila d e lp h ia ........... 102,464
B a ltim o r e ..................
75,258
R ic h m o n d ...............
4,672
N ew O rleans * ____
13,644
N ew port N e w s ____
4 ,270
N o rfo lk ......................
7,214
G a lv esto n ............... .
.............
M obile.......... ..............
12,527
M ontreal.......... .........
4 0 ,355
Q u eb ec......................
1,607
Port A rthur.................................

Wheat,
bush.

C om
bush.

Oats;
bush.

5 5 9 ,8 0 0
4 2 ,259
66 ,0 5 0
83,579
19,150
10,800

5 5 ,750
48,254
2 8 ,810
87 ,0 9 0
23,994
7 9 ,422

56 8 ,5 5 0
6 2 ,997
107,142
82,491
2 1 ,562
14,300

9 3 ,000

2 4 .000
2 8 .000
69,931

9 ,515
5 7 ,517

1,2 4 3 ,2 2 0

Barley,
bush.

R y e,
bush

2 1 ,675

1,150
875
12’ 806

4 ,832

8 0 ,000

T o ta l w e e k .......... 4 7 5,268 2 ,1 9 7 .8 5 8
W eek T19 0 8_______
431,176 2 ,7 5 7 ,8 4 0
,
Since Jan. 1 1 9 0 9 .1 1 ,2 3 9 ,1 9 5 5 4 ,7 0 7 ,9 1 3
Since Jan. 1 1 9 0 8 .1 2 ,2 9 7 ,8 5 9 7 2 ,7 3 5 ,7 0 9

445,251
92 2 ,0 7 4
2 6 ,507
14,831
2 2 6,484
7 8 4 ,3 7 8
7 4 ,3 4 9 206,242
3 1 ,4 5 6 ,1 2 0 3 4 ,8 4 2 ,7 9 4 4316.641 706 674
2 8 ,0 8 8 ,5 7 9 3 2 ,3 4 9 ,4 1 5 3304,531 1721 560

N a tio n a l B a n k s .— T h e fo llo w in g in fo r m a tio n r e g a r d in g
n a tio n a l b a n k s is from th e o ffic e of th e C o m p tro ller o f th e
C u rr en cy , T r e a su r y D e p a r tm e n t:

* R eceip ts do n o t Include grain passing through N ew O rleans for foreign p orts
on through bills of lading.

A P P L IC A T IO N S T O C O N V E R T IN T O N A T IO N A L H A N K S
APPRO VED.

T h e e x p o r ts fro m t h e se v e r a l s e a b o a r d p o r ts for th e w e e k
e n d in g S e p t . 2 5 1909 a re sh o w n in th e a n n e x e d sta te m e n t:

T h e F a n n e r s S t a t e B a n k o f S t a r b u c k , M in n ., In to " T h e F ir s t N a t io n a l
H a n k o f S t a r b u c k ."
C a p ita l s t o c k , $ 2 5 ,0 0 0 .
T h e L in t o n S t a t e H a n k , L in t o n , N o . D a k ., In to “ T h e F ir s t N a t io n a l
B a n k o f L i n t o n .”
C a p it a l, $ 2 5 ,0 0 0 .
C o r r e s p o n d e n t, A . A . L u d w ig s ,
L in t o n , N o . D a k .
T h e F o r t P ie r r e H a n k , F o r t P ie r r e , S . D . , In to “ T h e F o r t P ie r r e N a t io n a l
H a n k .” C a p it a l, $ 2 5 ,0 0 0 .
T h e P e o p l e ’s S t a t e H a n k o f O a k la n d C it y , I n d . , in t o " T h e P e o p l e ’s
N a t io n a l H an k o f O a k la n d C i t y . ” C a p it a l, $ 5 0 ,0 0 0 .
T h e L in c o ln P a r ish H a n k , R u s t o n , L a ., In to “ T h e F ir s t N a t io n a l H a n k
o f R u s t o n .” C a p it a l, $ 5 0 ,0 0 0 .
T h e J o h n s o n C o u n ty H a n k o f C la r k s v ille , A r k ., In to " T h e F ir s t N a t io n a l
H a n k o f C la r k s v ille .” C a p it a l, § 2 5 ,0 0 0 .

Wheat,

Corn,

Flour,
bbls.

Exports fro m —
bush.
bush.
N ew Y o r k ______ 143,445
3,3 7 8
B o s t o n ....................
3 9 ,624
P h ila d e lp h ia ____
16,000
B a ltim o re_______
2 4 ,000
16,600
N ew O r le a n s ____ 114,196
9,451
N ew port N e w s__
G a lv esto n ...............
6 4 ,000
3 4 ,2 8 4
M obile..........................................
2 8 ,000
M o n t r e a l................ 1,224,783
N o r f o lk ..................
.............
P ort A rthur............................... 8 0 ,000
Q u e b e c ....................
.............

S eptem ber 8 to Septem ber 1 8 .
9 ,5 3 4 ­ - T h e F ir s t N a t io n a l H a n k o f A lb io n , P a .
C a p ita l, $ 2 5 ,0 0 0 . T h o s .
D o la n , P r e s .; J o h n E c k e r t , V ic e -P r e s .; W ill A . P o n d , C a sh ie r .
9 ,5 3 5 ­ • T h e U n it e d S t a t e s N a t io n a l H a n k o f A b e r d e e n , W a s h . C a p ita l,
$ 1 0 0 ,0 0 0 .
F r a n k G . J o n e s , P r e s .; W illia m B . A la ck , V ic e -P r e s .,
W . I1’. P a u li, C a sh ie r .
9 ,5 3 6 ­ - T h e F ir s t N a t io n a l H a n k o f K in g s t o n , O h io .
C a p it a l, $ 2 5 ,0 0 0 .
N . .1. D u n la p , P r e s .; A . L . K ills, V ic e -P r e s .; C. E . M y e rs, C a sh ie r .
9 ,5 3 7 ­ - T h e C o n tin e n t a l N a t io n a l H a n k o f I n d ia n a p o lis , I n d .
C a p ita l,
$ 4 0 0 ,0 0 0 .
G . F . Q u ic k , P r e s .; W ord. C a r te r , V ic e -P r e s .; B . C.
D o w n e y , C a sh ier: A . I I . T a y lo r , A s s t . C a sh ie r .
9 ,5 3 8 ­ - T h e F a r m e r s & M e r c h a n ts N a t io n a l H a n k o f F u lle r t o n Cal
C a n lt a l, $ 2 5 ,0 0 0 .
F . I I . D a le y , P r e s .; A . P ie r o t t i, V ic e - P r e s .’ C W
C r a n d a ll, C a sh ie r .
C o n v e r s io n o f T h e F a r m e r s & M e r c h a n ts H a n k ]
C a p ita l, $ 2 5 ,0 0 0 .
0 , 5 3 9 ­ - T h e F ir s t N a t io n a l H a n k o f B e lfle ld , N o . D a k .
E d . O 'C o n n o r , P r e s .; R . C . D a v is , V ic e -P r e s .; ,1. o . M U stc n ,
C ash ier: A . W . F a c e y , A s s t. C a sh ie r . C o n v e r s io n o f T h e H eifleld
.S ta te H a n k .
0 ,5 4 0 ­ - T h e F ir st N a t io n a l B a n k o f C la y C it y , I n d . C a p it a l, $ 2 5 ,0 0 0 .
J a s . E . C o n le y , P r e s .; F . W . W e r r e m e y e r , V lc e -P r c s .; C arl M .
S is k , C a sh ie r .
C a p ita l, $ 2 5 ,­
0 ,5 4 1 ­ - T h e H a r le v s v llle N a t io n a l H a n k , l l a r l e y s v l l l e , P a .
0 0 0 . A lv in C . A lb e r fe r , P r e s id e n t; M . C . C le m e n s , V ic e -P r e s id e n t;
O . A . F u lm e r , C a sh ie r .
0 ,5 4 2 - T h e F ir s t N a t io n a l B a n k o f W e s t O r a n g e , N . .1. C a p it a l, $ 1 0 0 ,0 0 0 .
T . I I . P o w e r s F a r r , P r e s id e n t; W a lte r A . F l in t , V ic e -P r e s id e n t;
C . A . C o d d in g to n , C a sh ie r .
C a p ita l, $ 7 5 ,0 0 0 .
0 ,5 4 3 ­ - T h e S t . C lair N a t io n a l H a n k o f F r e e d o m , P a .
E . J . S c h le lt e r , P r e s id e n t; S . M o r g a n , V ic e -P r e s id e n t; I I . R . R o s s ,
C a sh ier; C h a s. VV. W a g n e r , A s s is t a n t C a sh ie r .
9 ,5 4 4 - - T h e F ir s t N a t io n a l H an k o f T o w n o f U n io n , N . J .
( P . O ., W c c h a w k e n , N . J .)
C a p ita l, $ 1 0 0 ,0 0 0 . J o h n C o n w a y , P r e s id e n t;
E r n e s t W e b e r , A lb e r t H o fm a n n a n d W illia m M o n g e r , M . D . , V ic e ­
P r e s id e n t s ; J o h n C . H . R u g g le s , C a sh ie r .
o , 54 5 - - D i s t r i c t N a t io n a l H a n k o f W a s h in g to n , I ). C . C a p ita l, $ 1 0 0 ,0 0 0 .
R o b t . N . H a r p e r , P r e s id e n t; J . M iller K e n y o n , H e n r y H. F . A lacfa r la n d a n d W . S . H o g e , V ic e -P r e s id e n ts ; J . C a s tle R i d g w a y ,
C a sh ie r ; T h c o . S . M a so n , A s s is t a n t C a s h ie r

2 ,2 8 9 — T h e
5 ,7 2 4 — T h e
7 ,5 3 5 — '1 h e
5 ,4 7 4 — T h e

L IQ U ID A T IO N .
M e tr o p o lita n N a t io n a l H a n k o f B o s t o n , M a s s ., S e p t . 9 1 9 0 9 .
F ir s t N a t o n a l B a n k o f M a r lo w , O k la ., S e p t . 14 1 9 0 9 .
P e o p l e ’s N a t io n a l H a n k o f S e d a n , K a n ., S e p t . 1 1 9 0 9 .
F ir s t N a t io n a l H a n k o f P o n c a C it y , O k la ., S e p t . 0 1 9 0 9 .

IN S O L V E N T .
8 ,9 0 3 — T h e F ir s t N a t io n a l B a n k o f B u r n s id e , K y ., w a s p la c e d In c h a r g e o f
a r e c e iv e r S e p t . 17 1 9 0 9 .

A u c tio n S a le s .— A m o n g o th e r se c u r itie s th e fo llo w in g , n o t
r eg u la r ly d e a lt in a t th e B o a r d , w ere r e c e n tly so ld a t a u c tio n .
B y M essrs. A d ria n H . M uller & Son :
Stocks.
5
25
15
10
10
48
50
49

Stocks •

S chenectad y T rust C o.................. 163
3 Im p . & Traders’ N a t. B a n k . . 5 4 7 H
M echanics’ N ational H ank____ 259J£ 32 H ank of M anhattan C o_______ 330J-6
N ew York T rust C o ............. ........ 675
300 A lbany S o u th . I tlt . C o., p r o f-. 40
W ashington Tr. C o., S e a t t l e ..l7 0
15 T itle Ins. Co. of N . Y ____1 5 2 ^ -1 5 3
F ourth N ational H ank................240J^
25 M ercantile N a t. H a n k ________ 1 7 2 %
N ational Park B a n k . . ................455H
80 Sou th Shore T rac. Co. of N . Y .4 1 ^ - 4 2
E q u itab le Tr. (X). of N . Y .4 7 4 J 4 -4 7 5
10 Fifth A v e. T rust C o ...................... 395
AVnldman H otel C o., $25 each,
15 T ru st Co. of A m erica.......... ......... 350
$200 per share 350 In tern a t. H anking Corporation i5 0




Barley,
bush.

40,026

Peas
bush.

...........

235

17,960

235
384

1,540
7 ,5 1 5

1*607

N A T IO N A L H A N K S O R G A N IZ E D .
T otal w e e k ___ 1 ,7 0 6 ,0 4 8
W eek 1 9 0 8 --------- 3,3 6 2 ,3 7 1

Rye,
bush.

Oats,
bush.

7 1 ,752
6,303
74.257
30 .5 2 6
3 ,2 6 8
4,270
2 ,5 2 0
12.527
8,7 4 0
7,214

91,713
55,387

222,984
291,925

49,081
_____
2 0,1 3 8 130,699

T h e d e s tin a tio n o f th e se e x p o r ts for th e w e ek a n d s in c e
J u ly 1 190 9 is a s b elo w :
----------Flour-

Week
Exports or week and S ep t. 25.
Since J u ly 1 to—
bbls.

Since
J u ly 1
1909.

bbls.

Week
Sept. 25.
bush.

Since
J u ly 1

Since
J u ly 1

Week
Sept. 25.

1909.

bush.

1909

U n ited K in g d o m .. .1 0 7 ,6 8 2 1 ,010,955 1,280,407 10,982,393
C o n tin e n t________
57,423
268,563
4 2 3,445 5 ,7 8 3 ,9 9 2
So. <fc C ent. A m er. 2 1 ,910
174,573
1,596
120.977
W est I n d ie s______ 29,556
30 1 ,2 5 5
600
1,600
B rit. N o . Am . Cols
6,3 0 0
2 9 ,379
22,651
O ther C ou ntries__
113
.............
.............

42,855
16,600
480
31,354
424

447,453
3 8 8 ,6 7 8
45,972
5 4 1 ,0 6 6
5,814
6 ,3 3 8

T o t a l . . . ............... .2 2 2 ,9 8 4 1 ,807,376 1,7 0 6 ,0 4 8 16,8 8 8 ,9 6 2
T o ta l 19 0 8 _______ .29 1 ,9 2 5 2 ,298,631 3,3 6 2 ,3 7 1 3 1 ,9 4 0 ,2 7 7

91,713
55,387

1,435,321
6 2 0 ,0 5 0

AUV n w u u o oiiijjiiiv. iilo VJ1 YVUCtHi UliU W i l l

1U1

till? VVUU1V

e n d in g S e p t . 2 5 1909 a n d s in c e J u ly 1 1909 a n d 1 9 0 8 a re
sh o w n in th e fo llo w in g :
Wheal.
Exports.

1909.

Week
Sept. 25.

Corn.
|

1908.

Since
J u ly 1.

Since
J u ly 1.

1909.

1908.

Week
Sept. 25.

Since
J u ly 1.

Since
J u ly t .

2 6 .9 4 5 .0 0 0
4 2 .4 8 0 .0 0 0
7 .5 1 2 .0 0 0
1 1 .4 8 0 .0 0 0
1 .9 6 4 .0 0 0
2 0 .6 8 8 .0 0 0

j Bushels.
Bushels.
4 4 ,8 1 7 ,7 0 0
7 2 .0 0 0
1 2 ,570,000
3 4 .0 0 0
1 0 ,708,000
2 0 ,0 5 0 ,0 0 0 3 ,0 18,666
2 ,4 9 6 ,0 0 0
4 ,5 3 6 ,0 0 0

Bushels.

Bushels.

1 .385.000
5 .1 1 0 .0 0 0
6 .4 0 9 .0 0 0
3 7 ,5 9 0 ,0 0 0

7 7 1 ,4 0 0
4 .2 4 7 .5 0 0
5 .5 2 2 .5 0 0
2 5 ,6^ 9,500

T o t a l ____ 8 ,9 0 0 ,0 0 0 111,0 6 9 ,0 0 0

9 5 ,2 4 3 ,7 0 0 3 ,1 2 4 ,0 0 0

5 0 ,4 9 4 ,0 0 0

3 0 ,1 7 0 .0 0 0

Bushels.
N orth Am er. 2 .3 8 0 .0 0 0
R u s s ia n ____ 5 .8 7 2 .0 0 0
D an ublan . .
144.000
A rgentine . .
2 2 4.000
A u str a lia n . .
16,000
O th. cou n tr’s 26 4 .0 0 0

Bushels,

T h e q u a n t it y o f w h e a t a n d corn a flo a t for E u r o p e o n d a t e s
m e n tio n e d w a s a s fo llo w s:

United .
K ingdom . Continent.
Bushels.
S ep t.
S ep t.
S ep t.
S ep t.

25
18
26
28

1909.
1909.
1 9 08.
1 9 07.

Bushels.

1 0 .6 4 0 ,000j 12.080.000
13,360,000; 12,560,000
1 3 .440.000 14.640,000
16.8 5 0.000 1 4,080.000

Total.
Bushels.
2 2 .7 2 0 .0 0 0
2 5 .9 2 0 .0 0 0
2 8 .0 8 0 .0 0 0
3 0 ,9 6 0 .0 0 0

U ni ed
K ingdom . Continent.
Bushels.

Bushels.

7 .9 9 0 .0 0 0
7 .1 4 0 .0 0 0
6 .1 2 0 .0 0 0
6 ,6 8 0 ,0 0 0

7 .0 5 5 .0 0 0
7 .7 3 5 .0 0 0
5 .5 2 5 .0 0 0
3.8 4 0 .0 0 0

Total.
Btishels.
1 5 .045.000
1 4 .875.000
1 1 .645.000
1 0.6 2 0 .0 0 0

D IV ID E N D S .
T h e fo llo w in g sh o w s all th e d iv id e n d s a n n o u n c e d fo r t h e
fu tu r e b y large or im p o r ta n t c o rp o ra tio n s:

Dividends announced this week are

nted in italics.

Per
Cent.

Nam e o!C om pany.
Railroads (Steam).

2X

2
2
1H

Central H R . of Now Jersey (quar.)

Chicago A Western Indiana (quar.)
C leve. Ctn. C iilc. & S t. I ,., pref. ( q u a r .) ..

Del. Lackawanna A Western (quar.)
E v an sville & Terre H a u te, com m on
Preferred _______________________
G eorgia R U . & B anking ( q u a r .) .. .
Great Northern (quar.) -------------------Jo lie t & C hicago, guar, (q u a r .)-----Preferred (N o . 1 3 ).

K cadlng, secon d preferred______ ______
T oledo S t L ouis & W estern, preferred.
W arren, gu aran teed ____________________
W isconsin Central, preferred ( q u a r .) .. .
Street & Electric R a ilw ays.

A uburn A Syracuse Nice. M l., pref. (qu.)
Aurora Elgin A Chic. M l., com. (quar.).
Preferred (quar.) ------ --------------------------

lA

H
1A
1 11
1
lA
3
2
3
2

Preferred (quar.) ____
Second preferred (N o . 6 ) ______

Kokomo M arion A Western Tract.. pref.
M em phis Street lit/., pref. (quar.).

IX
1
IX
2A
1A

Ottawa Electric Ily. (quar.) -------------------Philadelphia Company, common (quar.).

1

S e a ttle E lectric C o., co m m o n .

IX
1
IX

U n ited I ty s . of S t. L ou is, pref. ( q u a r .) ..

Ga uks

Aetna N ational (quar.) .......... ..................... F ifth N ational (quar.) (No. 1 3 7 )...............
First National, H klyn. (quar.) ....................
Gallatin National (No. 1 5 4 ).........................
Mercantile National (quar.) ........ ................
Produce. Exchange, New Y o rk .......... ...........
E x tr a ------------- -----------------------------------

IX
1

O ct.

Miscellaneous.

3
IX
ix

1
lA
50c.

i
L ocom otive, pref. (quar.) —
Wx
M alt Corporation, p r e fe r r e d .. 2X
51.56
M alting, preferred----------------S hipbuilding, pref. (q u ar.) —
IX
1

IX

Am erican T eleph. A T elcg. (q u a r .).
A m erlcan T ypefound ers, com . (qu
Preferred (q u a r .).................... ...........

2
1

Hell Telephone o f M issouri (quar.).

2
LA

IX
IX
2
IX

14

Central Coal & Coke, com m on (q u a r .).
Preferred (q u a r .)---- ---------- --------------

i

C laflin (II. II ), common (quar.).
Corn Products R efin ing, pref. (q
D etroit E dison (q u a r .)..................-

IX

2
1A
2
1
1
1

)

1
24
2
1
1

E astern S team ship (quar.) (N o . 1 ).
E lectrlcal Securities C orporation, p
General Electric (q u a r .)----------------Com m on (extra) - ­
Preferred (q u a r .).
Internat. Sm okeless P ow . & G hcm ., pref .
L a Hose C onsolidated M ines ( q u a r .) .- - E x t r a ------------------ -------- — ........... - - M exican Telegraph (q u a r .)----------M ichigan S ta te T elephone, pref. (..
N ation al B iscu it, com . (quar.) (N o . 44) N a tio n a l C a r b o n , c o m n u m (q u a r .)
N ation al Sugar R efin ing, pref. (qu
._ N ew E n gland Cotton Y a m , pref. (quar.) N ew England T elop. & T eleg. ( q u a r .) .. N ew Y ork D ock, preferred--------------------- N lplsslng M ines (q u a r .)......................
E x tr a ---------------- ---------------------O tis E levator, com m on .................................. .
Preferred (q u a r .)___________________ - Pennsylvania Salt M fg. (No. 0 3 ) --------P op e M anufacturing C o., pref. (q u a - . ) . .
Q uaker O ats, com m on (q u a r .)--------------- Com m on (e x tr a )------ -------- ----------------- Reece Buttonhole Mach, (quar.) (No. 9 4 ) . .
>
Shaw lnlgan W ater & Pow er (quar.) — .
Standard M illing, preferred (N o . 1 3 )----- .
)
S w i f t * Co. (quar.) (N o. 9 2 ) ............
-

.

U n ited Fruit (quar.) (N o . 4 1 ) -------U nited Gas Im p rovem ent (q u a r .).
Preferred (q u a r .).
Preferred (q u a r.)______
U tah C onsolidated Mining

W estlngliouse Airbrake ( q u a r .) .. .
E x tr a
— ----------- -----------------

F irst preferred.
a Transfer books n ot closed ,
Ivldends.




1 H olders
1 H olders
5 O ct. 2
0 H olders
15 O et. 10
15
15 H olders
9 O ct.

14
4
4
3
1
14
24
14
14

IX

14
14n
14
2
5
24

Wx
14
14
0
14
2
14
4
2
1

Wx

1
14
3
l

Wx

2
1
3
2
2
2
1>£
1

O ct.
Sept.
S ep t.
O ct.
O ct.
O ct.
O ct.
N ov.
N ov.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
N ov.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
N ov.
N ov.
O ct.
O ct.
D ec.
Dec.
N ov.
Oct.
N ov.
O ct.
O ct.
O ct.
O ct.
N ov.
O ct.
O ct.
O ct.
N ov.
O ct.
O ct.
O ct.
O ct.
O ct.
lO ct.
O ct.
O ct.
N ov.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O ct.
O cl.
•Sept
O ct.
O ct.

.
>
-

O ct.
O ct.
O ct.
Wx O ct.
5 0 c. O ct.
2
1 4 O ct.
Vx O ct.
O ct.
24

)

Wx

O ct.
O ct.

6

of rec. S ep t.
of rec. S ep t.
to
O ct.
of rec. S ep t.
to
O ct.

28
29
5
29
15

of rec. O ct.

0

to

e Correction.

In th e c a se o f th e t o t a ls , th e a c tu a l fig u res
We om it two ciphers (00) in all cases.
Capital.

B anks.

Surplus.

00s omitted.

M e ch a n ic s'-----C ity ....................
C h e m ic a l..........
M erchants’ E x .
G a lla tin ----------H utch. & D r o v .
G r e e n w ic h -----Am erican E x . .
C om m erce-------M ercantile . . .

M arket & F u lt’n
M etropolitan . .
Corn E xchan ge
Im p. & Traders’
P a r k .......... .........

Irving E xch —
B ow ery --------N . Y . C o u n ty ..

O ct. 10

to
S ep t. 30
15 S ep t. 24
to
S ep t. 30
30 S ep t. 10
to
S ep t. 30
30 S ep t. 10
O
ct.
2
to
O ct. 20
20
to
O ct.
1
1 S ep t. 28
20 H olders of rcc. O ct. 2
to
O ct. 21
21 S e p t. 22
to
N o v . 11
3 O ct. 22
to
N o v . 11
1 O ct. 22
15 H olders of rcc. S e p t. 18
to
O ct. 4
15 S ep t. 29
2 t folders of rec. S ep t. In
15 H olders of rec. S ep t. 30
15 H olders of rcc. O ct. 11
15 H olders of rec. O ct. 11
to
O ct. 3
15 S ep t. 24
15 H olders of rec. S ept. 25
to
O ct.
1
1 S ep t. 20
to
O ct. 15
15 O ct. 0
1 H olders of rec. O ct. 15
1 to
O ct. 15
15 O ct.
1 to
O ct. l o
15 O ct.
15 H olders of rec. S ep t. 30
8 H olders of rcc. S ep t. 30
to
O ct. 15
15 O ct. 7
11 H olders of rec.S ep t.3 0 a
15 H olders of rec. O ct. la
to
O ct. 2 1
30 S ep t. 30
to
O ct. 20
29 S ep t. 30
to
O ct. 25
25 O ct. 16
1 H olders of rcc. O c t.15
to
N o v . 10
1 O ct. 30
16 H olders of rec. S e p t. 4a
15 H olders of rec. O ct. 5
to
D ec. 1
1 N o v . 12
to
D ec. 1
1 N o v . 12
1 O ct. 13
to
N ov. 1
to
O ct. 27
15 O ct. 5
15 H olders of rec. N o v . 5
20 O ct.
1
to
O ct. 14
20 O ct.
1 to
O ct. 14
1
15 H olders of rec. O ct.
15 Holders of rcc. S ept. 30
to
N ov. 1
1 O ct. 19
15 1folders of rec. S e p t.2 8 a
15 H olders of rcc. O ct. 5
to
O ct. 3
2 S ept. 19
.......... - to
1 O ct. 10
15 Holders of rec. S ep t. 30
1
15 Holders of rec. O ct.
1 to
O ct. 14
2C O ct.
1 to
O ct. 14
21 O ct.
0
to
O ct. 15
15< c t .
15 H olders of rcc. S e p t .3 0
15 H olders of rec. S e p * .30
15 H olders of rec. S ep t. 27
1 Holders of rec. O ct. 20
to
O ct. 14
15 S ept. 20
15 H olders of rec. O ct. 4
15 H olders of rec. O ct. 4
15 H olders of rcc. O et. 5
1
15 Holders of rcc. O ct.
to
O ct. 15
15 O ct. 6
21 H olders of rcc. O ct. 7
to
O ct. 31
30 O ct. 20
to
O ct. 9
1 O ct. 4
to
O ct. 25
25 O ct. 15
< H olders of rec. S ep t. 11
to
S ep t. 30
3 Of S ep t. 19
15 H olders of rec. S e p t .3 0
O ct.
10
11 O ct. 1 to
15 H olders of rec. S ep t. 27
15 H olders of rcc. S e p t .3 0
5 H olders of rcc. S e p t. 14
6 H olders of rcc. S ep t. 14
15 H olders of rec. S e p t. 30
15 (folders of rcc. S e p t .3 0
to
O ct.
1
15 S e p t. 24
to O ct. 14
15 O ct. 1
2 ( H olders of rcc. O ct. 9
to
O ct. 13
15 S e p t. 21
S e p t. 26
to
O ct. 8
1 S e p t. 20
to
o e t.
8
to
O ct. 15
15 O ct. 10
to
O ct. 15
15 O ct. 10

b A lso 2 X % payable April 15 1910.

% , p ayable In quarterly Installm ents,
ate<l

)
)
.
.
)
>
-

.

Vulcan Dctinning, pref. (quar.).

A

IX

1 to
N ov. 9
N ot closed.
Iolders of rec. O c t. 22
N o t closed.
folders of rec. O ct. 1
Iolders of rec. O ct. 4
Iolders or rec. S ep t. 18
Io ld ers of rec. S ep t. 22
)c t. 2
to
O ct. 14
iolders of rec. O ct. 18
Holders of rec. S ep t, 25
Holders of rec. S e p t. 30
Holders of rec. O ct.
1
[Iolders of rec. O ct.
1
Holders of rec. S e p t. 22
Sept. 19
to
S ep t. 30
S ep t. 12
to
O ct. 5
H olders of rcc. O ct. 23
Holders of rec. S ep t. 30a
O ct. 0
to
O ct. 15
H olders of rec. O ct. 1

15 H olders of rec. S ep t. 30
to
O ct. 19
9 S ep t. 24
9 Sci>t. 24
to
O ct. 19
1
t
to
O ct. 15
15 O ct.
O ct.
1 to
O ct. 15
O ct.
15 O ct.
11 H olders of rec. O ct. 8
O ct.
11 H olders of rcc. O ct. 8
O ct.
O ct.
1
S ep t. 30.
15 H olders of rec. O ct. Id
O ct.
to
O ct.
1
S ept. 30 S ep t. 23
18 O ct. 9
to
O ct. 18
O ct.
1 S ep t. 22
to
S ep t. 30
O ct.
1 H olders of rec. Sept. 30
O ct.
1
N ov.
1 H olders of rec. O ct.
1O c t. 10 t
O c t. 31
N ov.
1
15 H olders or rec. O ct.
O ct.
1 H olders of rec. Sept. 23
O ct.
to
O ct. 10
11 S ep t. 25
O ct.

O ct.

Am cr. M ake Shoe A F d y., com. (quar.).
Preferred (quar.) ------------------ ..................
Am erican Chicle, common (monthly) ----Preferred, (quar.) _______________ _____

V ov.

O ct.
O ct.
O ct.

O ct.
O ct.
O ct.
O ct.
O ct.

3
2
0

T rust C om panies.
U n ion (q u a r .)__________________________

A m erican
A m erican
A m erican
A m erican

10
30
1
30
20
20
1
15
15
1
4
15
10
10
15
1
5
10
15
15
15

N ov.
Sept.
N ov.
Sept.
V/x J e t.
2 A Jet.
4
N ov.
2'Ab J e t.
2 H O ct.
N ov.
1u
O ct.
m
1
O ct.
3
O ct.
3 A O ct.
1 X O ct.
2
O ct.
l X O ct.
N ov.
2
O ct.
3 A O ct.
1
O ct.

A tlantic Coast Cine H R ., preferred .

Hell III/, o f Chicago {guar.) --------------

S t a t e m e n t o f N e w Y o r k C ity C le a r in g -H o u s e B a n k s .— T h e

Books Closed.
Days Inclusive.

When
Payable.

F i f t h ....................

Coal & I r o n . . .

S
S
S
1 9 ,739,0
3 ,3 7 4 ,4
2 ,0 0 0 ,0
3 5 ,2 0 0 ,0
4 ,0 8 8 ,4
2 ,0 5 0 ,0
2 ,0 0 0 ,0
2 0 ,0 0 2 ,0
1,642,1
2 8 ,0 4 0 ,0
3 ,0 0 0 ,0
3 ,7 6 7 ,3
20 ,7 2 9 ,4
1,500,0
5 ,674,1
8 ,2 7 5 ,0
1,000,0
0 5 7,9
2 5,0 0 0 ,0 29 ,0 4 0 ,9 1 9 7,852,5
3 ,0 0 0 ,0
6 ,0 5 9 ,1 28,279,1
000,0
5 3 2,0
6 ,0 1 6 ,8
1 ,0 0 0 ,0
2 ,4 6 8 .4
9 ,3 1 7 ,3
2 ,0 9 9 ,9
3 0 0,0
148,0
7,263,1
500,0
779,7
5 ,0 0 0 ,0
5 ,2 2 0 ,0
3 0 ,7 7 0 ,8
25 ,0 0 0 ,0 1 5 ,594,5 161 ,7 2 1 ,6
3 ,0 0 0 ,0
14,987,4
2 ,5 6 1 ,5
3 ,9 0 1 ,4
500,0
8 9 8,9
1 ,025,0
450,0
7 ,0 0 3 ,5
2 ,2 5 4 ,5
200,0
475,4
0 8 ,2 5 9 ,2
3 ,0 0 0 ,0 10,922,2
22 ,9 0 9 ,4
2 ,5 5 0 ,0
1 ,508,0
5 ,9 9 4 ,9
500,0
405,8
7 ,9 2 1 ,8
1,6 7 1 ,5
1,000,0
1 2 ,248,3
1,3 9 5 ,2
2 ,0 0 0 ,0
4 4 ,9 5 2 ,0
5 ,3 1 0 ,9
3 ,0 0 0 ,0
7 ,4 1 5 ,9
2 5 ,933,0
1,500,0
8 8 ,711,0
9 ,7 5 0 ,2
3 ,0 0 0 ,0
1,442,0
103,7
250,0
23,470,0
3 ,3 2 4 ,7
3 ,0 0 0 ,0
12,200,1)
1,815,4
1,000,0
10,000,0 19,023,9 114,475,8
2 ,0 0 0 ,0
1,4 4 1 ,4
20 ,3 2 1 ,7
3 ,3 8 7 ,0
250 ,0
811,7
8 ,1 4 1 ,3
500,0
1,598,3
4 ,0 2 1 ,4
75 0 ,0
049,7
6 ,0 8 5 ,l
7 8 ,5 9 5 ,9
5 ,0 0 0 ,0
12,850,1
2 ,0 5 5 ,5
100,0
3 ,7 0 0 ,6
880,1
2 0 0,0
5,0 6 0 ,4
1,040,4
200,0
1 8 ,090,8
l ,3 7 3 ,S
1 ,0 0 0 ,0
7 ,7 2 0 ,5
1,148,8
1,0 0 0 ,0
3 ,4 2 8 ,0
474,4
250,0
1 0 .832.2
1 ,0 0 0 ,0
2,000,9
4,639,0
1,130,0
2 0 0,0
1 8 ,9 8 4 ,C
1,765,3
1 ,0 0 0 ,0
17,636,4
2 ,0 1 5 ,2
1,000,0
7,760,0
1,000,0
7 3 8,7
13,024,0
1,000,0
825,4
5 ,4 1 9 .0
331,0
1,000,(1
2 8 ,8 8 2 ,9
2 ,0 0 0 ,0
2 ,7 3 4 ,3
5 ,3 3 1 ,0
3 0 5 ,2
1,0 0 0 ,0

S
3 ,2 8 8 ,0
8 ,9 5 0 ,0
3 ,7 4 6 ,0
6 ,3 0 3 ,0
4 ,8 9 9 ,9
1,000,0
43 ,8 2 4 ,3
4 ,839,7
1,397,2
1,100,2
492,7
1,857,5
5 ,9 3 7 ,3
20 ,5 8 5 ,0
2 ,1 6 6 ,2
328,1
1,189,6
552,0
1:1, 100,8
5 ,421,4
687,3
1,168,8
3 ,0 1 2 ,0
8 ,1 3 5 ,0
3 ,8 0 5 ,0
24 ,9 2 7 ,0
3 3 4,0
4 ,3 7 7 ,0
2 ,9 6 0 ,0
28.374,4
3 ,9 0 7 ,0
830,0
1,210,0
707,9
10,970,7
2 ,7 9 5 ,3
38 5 ,0
885,2
4 ,0 3 2 ,5
1,732,1
701,7
029,5
1,025,0
3 ,5 7 0 ,0
3 ,5 0 9 ,3
2 ,099,4
3 ,9 1 0 ,0
957,0
7,209,1
9 3 4,0

$
S
%
1 7 ,050,0 25.9
1 ,285,0
4 1 ,0 0 0 ,0 25.4
1 ,0 5 5 ,0
2 1 ,0 2 5 ,0 25.2
1,7 9 4 ,0
2 9 ,401,1 25.3
1,182,0
2 7 ,8 2 0 ,8 24.3
1 ,8 7 5 ,2
7 ,0 9 1 ,0 25.9
3 5 4 ,0
5 ,0 0 8 ,0 1 9 3,271,7 25.2
2 6 ,6 3 1 ,3 25.0
1,943,5
7 ,0 3 1 ,5 27.0
507,0
7 ,1 5 8 ,6 25.8
7 3 2,8
2 ,0 3 4 ,8 29.2
101,3
8 ,1 6 8 ,2 25.1
200,0
25 ,2 4 8 ,3 29.7
1,5 3 7 ,3
1 0 ,322,9 14 3 ,7 3 8 ,8 25.7
1 1 ,954,5 2 b .0
1 ,015,8
5 8 2,0
3 ,6 3 0 ,3 25.0
8 ,4 4 8 ,6 27.0
1.118,8
2 ,2 7 4 ,6 30.0
133,2
7 7 ,6 3 1 ,5 25.7
6 ,7 9 5 ,9
2 2 ,7 1 7 ,0 25.4
320,1
0 ,6 8 0 ,9 25.2
1,0 0 3 ,3
8 ,0 1 0 ,0 28.9
1 ,150,9
1 2 ,502,0 25.7
202,1
5 3 ,8 7 4 ,0 26.2
5 ,7 1 3 ,0
2 3 ,3 4 6 ,0 24.5
1,8 5 5 ,0
1 ,4 4 2 ,0 101 ,0 6 4 ,0 25.9
90,9
1,438.1 3 0 .0
2 5 ,9 0 2 ,0 25.7
2 ,2 8 3 ,0
1 2 ,321,0 25.2
147,0
1 ,225,8 110,357,1 20.8
2 1 ,4 0 0 ,4 26.2
1,648,4
3 ,5 0 2 ,0 25.0
07 ,0
8,106,G |22.9
008,3
3 ,8 9 2 ,3 25.1
211,7
4 ,7 5 0 ,8
8 0 ,0 7 1 ,5 25.2
1 4 ,014,4 2 6 .3
1,051,4
3 ,0 1 5 ,9 22.4
425,7
523,7
5 ,7 7 9 ,2 24.3
20 ,8 6 0 ,4 25.1
1,215,3
7 ,8 2 0 ,2 25.(1
274,1
3 ,8 1 4 ,0 20.(1
255,2
1,732,0
10,573,1 25.1
5 ,1 7 8 ,0 24.7
249,0
2 1 ,6 5 4 ,0 25.2
1,888,0
17,591,7 20.2
1,105,0
9 ,2 4 7 ,3 25.7
297,7
1 6 ,0 6 2 ,0 26.0
2 7 7,0
5 ,8 9 0 ,8 25.1
525,9
3 0 ,0 7 8 ,3 24.3
272,3
5 ,2 9 8 ,0 26.4
4 6 9,0

T o ta ls, A v e r . 1 2 7,350,0 177,371,8 1310,942,1 2 7 4,303,9 7 1 ,4 0 1 ,5 .1343,551,9 25.7
A ctual figures

1321,149,2 2 7 1 ,1 5 0 ,8 7 0 ,9 7 1 ,3 1340,981,6 25.5

S ep t. 2 5 .

On the basis of averages, circulation am ounted to J 5 1 .5 5 9 .0 0 0 and U n ited S ta te s
d eposits (Included In deposits) to 5 1 ,7 6 0 ,8 0 0 ; actu al llgurcs S e p t. 2 5 , circulation
$51,470,900: U nited S ta te s d ep o sits, $ 1 ,0 7 5 ,0 0 0 .

T h e S t a t e B a n k in g D e p a r tm e n t a lso n o w fu r n ish e s w e e k ly
r e tu r n s of th e S t a t e b a n k s a n d tr u s t c o m p a n ie s u n d e r its
c h a r g e. T h e se r etu rn s c o v er all th e in s t it u t io n s o f th is c la s s
in th e w h o le S t a t e , b u t th e figu res arc c o m p ile d so a s to
d is tin g u is h b e tw e e n th e r e s u lts for N e w Y o r k C ity (G rea ter
N e w Y o r k ) a n d th o s e for th e r e s t o f th e S t a t e , a s p er th e
fo llo w in g :
ST A T E H A N K S A N D T R U S T C O M PA N IE S.

Week ended Sept. 25.

Capital as of April 2 8 -----Surplus as of April 2 8 -----L oans and I n v e s tm e n ts..
Change from la st w e e k .

T rust Cos.
State Banks
T rust Cos.
Stale Banks
outside o f
outside o f
in
in
Greater N . Y . Greater N . Y . Greater N . Y . Greater N . Y .
S
2 5 ,9 7 5 ,0 0 0

$
5 9 ,0 7 5 ,0 0 0

3 7 ,3 0 0 ,0 0 0

$
7 ,7 2 5 ,0 0 0

%

8 ,5 9 8 ,0 0 0

1 7 3,921,500

1 0 ,310,230

9 ,7 8 0 ,6 7 6

3 0 5 ,6 3 3 ,0 0 0 1,1 3 0 ,5 1 3 ,4 0 0
— 32 1 ,9 0 0
+ 1 .451,800

8 6 ,7 9 3 ,9 0 0
-)-370,800

1 3 1,874,400
+ 0 3 1,600

125,1 5 4 ,2 0 0
+ 180,000

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

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

Change from la st w e e k .

4 8 ,1 9 4 ,3 0 0
— 1,5 7 2 ,0 0 0

L egal-tenders & b k . notes
Change from la st w e e k .

2 7 ,3 2 6 ,7 0 0
+ 1 ,9 3 3 ,7 0 0

1 3 ,770,400
- 105,800

Change from la st w e e k .

+ 1,0 1 3 ,5 6 6

1 ,2 3 7 ,4 4 2 .4 0 0
— 9 ,5 1 8 ,8 0 0

9 2 ,0 5 1 ,9 0 0
+ 110,000

1 3 9,986,900
— 2 4 3,600

R eserve on d e p o sits..........
Change from la st w eek .

9 0 ,1 0 2 ,5 0 0
— 1 .748,000

1 10,344,000
— 8 88,000

2 0 ,0 4 3 ,2 0 0
+ 25,100

19,3 0 1 ,300
— 595,400

P . C. reserve to d e p o s its ..
P ercen tage la st w e e k ------

27.6%
28.3%

10.0%
10.2%

.••r’3 ?, 22.3%

14.4%
14.7%

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

+ Increase ov er la st w eek. — D ecrease from la st w eek.
.X0,e — ••Surplus" Includes all und iv id ed profits. " R eserv e on d e p o sits” in
eludes for both trust com panies and S ta te bank s, not on ly cash Item s, but a m ounts
due from reserve a gen ts. T ru st com p anies In N ew Y ork S ta te are required by
law to keen a reserve proportionate to their deposits, th e ratio varying according
to location as show n below . T h e percen tage of reserve required is com p uted on
the a b r o g a te of deposits, ex clu siv e of m oneys held In tru st and not payable w ithin
th irty d a y s, and also ex c lu siv e of tim e d eposits n o t payable within 3 0 d a y s, repre­
sen ted bv certificates, and also ex clu siv e of dep o sits secured by bonds of th e S ta te
of N ew Y ork. T h e S ta te banks are likew ise required to keep a reserve varyin g
according to lo ca tio n , but In th is ca se th e reserve Is com puted on th e w hole a m ount
of d ep o sits, ex clu siv e of deposits secured by bond s of th e State of N ew Y ork.
— Trust Cos .—
— State B a n ks —

Reserve Required fo r Trust Companies
and State B anks.
Location —

d D eclared

/ O n a cco u n t of accum u-

Specie. Legals. Deposits. ReAverage. Average. Average. s’ve.

Loans.
Average.

in crea se ov er last w eek.

Total
Of
Total
J iese, n '°, . wl lich _Resen'c_

-15%
15%
.15%
10%
.15%
10%
-15%
15%
10%
5%
— D ecrease from ast w eek.

25%
20%
15%
25%
15%

Of
15%
10%

7X%
15%
0%

T h e B a n k in g D e p a r tm e n t a ls o u n d e r ta k e s to p r e s e n t
se p a r a te fig u res in d ic a tin g th e to t a ls for th e S t a t e b a n k s a n d
tr u s t c o m p a n ie s in th e G rea ter N e w Y o r k not in the Clearing
House. T h e s e fig u res are s h o w n in th e ta b le b e lo w , a s are
a lso th e r e s u lts (b o th a c tu a l a n d a v e r a g e ) fo r th e C lea rin g ­
H o u s e b a n k s . I n a d d itio n , w c h a v e c o m b in e d e a c h corre­
sp o n d in g ite m in th e tw o s ta t e m e n t s , th u s a ffo rd in g a n a g g r e ­
g a t e fo r th e w h o le o f th e b a n k s a n d tr u st c o m p a n ie s in th e
G rea ter N e w Y o r k .
N E W Y O R K C IT Y B A N K S A N D T R U S T C O M PA N IES.

Clear.-House Clear .-House State B anks & Total o f all
Banks.
B anks.
T rust Cos. not BaJiks& Trust
Average.
AciualFlgures
in C .-H . Aver. Cos. Average.

Week ended Sept. 25.

$
$
C apital I N a t. B an ks
127 ,3 5 0 .0 0 0
127 ,3 5 0 ,0 0 0
i S e p t. 1 ...
Surplus S ta te Banks
1 7 7 ,371.800
J S e p t. 1 4 . .
177,371,800
Loans and Investm ents 1 ,3 2 1 .1 4 9 ,2 0 0 1 ,3 1 6 ,9 4 2 ,1 0 0
+ 5 ,9 7 2 .3 0 0 — 1 0 ,0 31,500
Change from la st w eek

S

8

* 6 9 ,7 0 0 ,0 0 0

197 ,0 5 0 ,0 0 0

3 6 0 ,2 1 6 ,9 0 0
♦182.S45.100
1 ,2 2 6 ,8 3 6 ,5 0 0 2 ,5 4 3 ,7 7 8 ,6 0 0
+ 1,617,500
— 9 ,0 1 4 ,0 0 0

D e p o s i t s _____________ 1 ,3 4 0 .9 8 1 ,6 0 0 1 ,3 4 3 ,5 5 1 ,9 0 0 o l,2 0 2 ,1 5 9 ,2 0 0 2 ,5 4 5 ,7 1 1 ,1 0 0
— 7 ,8 3 9 ,9 0 0 — 1 9 ,673,500
C hange from la st w eek — 3 ,4 2 1 ,8 0 0 — 1 1 ,8 33,600
Change from la st week

271 ,1 5 0 ,8 0 0
— 4 ,3 0 9 ,2 0 0

2 7 4 ,3 0 3 ,9 0 0
— 135,200

1 3 1 ,695,400

4 0 5 ,9 9 9 ,3 0 0
+ 7 1,900

+207.100

B o s t o n a n d P h ila d e lp h ia B a n k s .— B e lo w is a s u m m a r y o f
th e w e e k ly to t a ls o f th e C le a r in g -H o u s e b a n k s o f B o s t o n
a n d P h ila d e lp h ia .
W e omit two ciphers (00) in all these figures.
B anks.
B o sto n .
S e p t. 4 . .
S e p t. 1 1 . .
S e p t. 1 8 . .
S e p t. 2 5 . .
I’h ila .
S ep t. 4 . .
S e p t. 1 1 . .
S e p t. 1 8 . .
S e p t. 2 5 . .

Capital
and
Surplus.

Loans.

Specie.

$
4 0 ,3 0 0 ,0
4 0 ,3 0 0 ,0
4 0 ,3 0 0 ,0
4 0 ,3 0 0 ,0

$
2 1 3 ,1 3 8 ,0
211 ,1 5 7 ,0
2 1 1 ,1 9 7 ,0
2 1 2 ,2 0 6 ,0

3
2 3 ,1 7 9 ,0
2 3 ,3 7 1 ,0
2 4 ,7 7 3 ,0
2 5 ,6 4 3 ,0

5 6 ,3 1 5 ,0
5 6 ,3 1 5 ,0
5 6 ,3 1 5 ,0
5 6 ,3 1 5 ,0

2 7 6 ,7 7 3 ,0
2 7 7 ,1 8 7 ,0
2 7 5 ,2 3 7 ,0
2 7 3 ,6 9 9 ,0

Legals. Deposits, a Circu­
lation.
%

4 ,6 8 3 .0
5 ,1 2 9 ,0
5 ,1 4 5 ,0
3 ,9 0 7 ,0

76.61>0.0
7 4 ,0 4 8 ,0
7 5 ,0 7 6 ,0
7 7 .1 8 7 ,0

Clearings.

3
2 6 0 ,6 6 7 ,0
2 6 0 ,4 2 8 ,0
2 6 9 ,5 2 1 ,0
2 6 4 ,3 2 9 ,0

$
7 ,6 0 7 ,0
7 ,5 0 9 ,0
7 ,0 1 2 ,0
6 ,9 9 6 ,0

S
1 4 4 ,9 4 1 ,5
11 2 ,7 8 7 ,5
101,0 3 2 ,6
145,8 3 0 ,5

3 2 4 ,0 3 8 ,0
3 2 2 ,1 7 7 ,0
3 2 5 ,7 8 9 ,0
3 2 6 ,0 7 6 ,0

1 6 ,5 0 5 ,0
1 6 ,5 2 4 ,0
1 0 ,5 4 4 ,0
1 6 ,6 0 2 ,0

13 6 ,1 4 7 ,6
1 0 3 ,9 3 7 ,0
14 9 .1 1 1 ,3
155,0 5 1 ,2

a In clu d in g G overnm ent d ep o sits and th e item "due to eth er b a n k s.” A t B o sto n
G overnm ent d ep o sits a m o u n ted to $ 2 ,0 1 2 ,0 0 0 on S e p t. 2 5 , ag a in st $ 2 ,0 1 0 ,0 0 0 on
S e p t. 18.

I m p o r t s a n d E x p o r ts for t h e W e e k .— T h e fo llo w in g a re
th e im p o r ts a t N e w Y o r k fo r th e w e e k e n d in g S e p t . 2 5 ; a ls o
to t a ls sin c e th e b e g in n in g o f th e first w e e k in J a n u a ry :
F O R E IG N IM PO R T S A T N E W Y O R K .

For Week.

1909.

D ry G o o d s ................... .............
G eneral M erchan dise_______

|

1908.

$3,0 6 0 ,3 0 1
14,856,217

1907.

$ 2 ,4 4 1 ,1 6 3
1 1 ,9 26,512

1906.

$ 3 ,0 9 1 ,2 1 9
10,771,447

$ 3 ,3 0 4 ,0 7 3
1 2 ,6 7 3 ,3 2 8

7 0 ,9 7 1 ,3 0 0
Change from la st w eek ' — 1,7 9 1 ,6 0 0

7 1 ,4 6 1 ,5 0 0
— 53 7 ,3 0 0

622,692,000
— 31 0 ,3 0 0

9 4 ,1 5 3 ,5 0 0
— 8 4 7 ,6 0 0

3 4 2 ,1 2 2 ,1 0 0
— 6 ,1 0 0 ,8 0 0

3 4 5 ,7 6 5 ,4 0 0
— 6 72,500

c l5 4 ,3 8 7 ,4 0 0
- 1 0 3 ,2 0 0

5 0 0 ,1 5 2 ,8 0 0
— 775 ,7 0 0

T o t a l ........................................ 8 1 7 ,9 1 6 ,5 1 8 $ 1 4 ,3 6 7 ,6 7 5 $ 1 3 ,8 6 2 ,6 0 6 $15 ,9 7 7 ,4 0 1
Since Ja n u a ry 1.
D ry G o o d s__________________ $ 1 2 4 ,5 3 7 ,2 4 5 $ 8 8 ,6 5 3 ,0 8 0 $ 1 3 9 ,8 0 4 ,7 3 2 $ 118,5 1 6 ,7 4 4
G eneral M erchandise_______ 5 0 3 .3 4 2 ,7 1 4 3 6 4 ,7 4 1 ,1 1 9 5 0 5 ,533,211 4 3 4 ,3 9 8 ,9 3 5

..........

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

25,743;300
— 1 ,740,600

2 5 ,7 4 3 ,3 0 0
— 1,74 0 ,6 0 0

T o ta l 3 8 w e e k s...................... $ 6 2 7 ,8 7 9 ,9 5 9 $ 4 5 3 ,3 9 4 ,1 9 9 *645 ,3 3 7 ,9 4 3 j$552,9 1 5 ,6 7 9
1

T otal r eserve.......... —
C hange from la st week
Percen tage to d ep osits
requiring r e s e r v e -----P ercen tage la st w e e k . .

3 4 2 ,1 2 2 ,1 0 0
— 0 ,1 0 0 ,8 0 0

3 4 5 ,7 6 5 ,4 0 0
— 6 72,500

ISO,130,700
— 1 ,8 4 3 .8 0 0

5 2 5 ,8 9 6 ,1 0 0
— 2 ,5 1 0 ,3 0 0

T h e fo llo w in g is a s t a t e m e n t o f th e e x p o r t s (e x c lu s iv e o f
sp e c ie ) fro m th e p o r t o f N e w Y o r k to fo r e ig n p o r ts fo r t h e
w e e k e n d in g S e p t. 2 5 a n d fro m J a n . 1 to d a te :

Surplus r e s e r v e ..............

6 ,8 7 6 ,7 0 0

A ggr’te m oney h oldin gs
Change from la st week
M oney on d ep osit w ith
other bks. & tru st cos.
Change from la st week

-

25.54%
25.94%

25.76%
25.58%

17.5%
17.8%

E X P O R T S FROM N E W Y O R K F O R T H E W E E K

9 ,8 7 7 ,4 2 5

1909.
+ Increase o ver la st w eek.

— D ecrease from la st w cok.

a n d oth er hanks and tru st com panies In N ew Y ork C ity ” ; w ith this Item Included,
d e p o sits am ounted to $ 1 ,3 5 5 ,6 4 9 ,5 0 0 , a decrease of $ 8 ,3 5 3 ,7 0 0 from la st w eek.
In th e case of th e C learing-H ouse bank s, th e d ep o sits are " n et” both for th e average
and th e actu al figures, b Inclu des bank n otes, c Of th is am o u n t S ta te bank s held
$ 1 5 ,4 6 2 ,8 0 0 an d tru st com p anies $ 1 3 8 ,9 2 4 ,6 0 0 .

T h e a v e r a g e s o f th e N e w Y o r k C le a r in g -H o u s e b a n k s
combined w it h th o s e for th e S t a t e b a n k s a n d tr u s t c o m p a n ie s
in G rea ter N e w Y o r k o u ts id e o f th e C learin g H o u se co m p a r e
a s fo llo w s fo r a se r ie s o f w e e k s p a st:

For th e week _ P rev io u sly r e p o r te d ........... ....

$ 1 0 ,2 1 5 ,9 4 3
4 3 2 .8 7 1 ,1 0 0

Ju ly
A ug.
A u g.
A ug.
A u g.
S e p t.
S e p t.
S ep t.
S e p t.

Deposits.

T h e fo llo w in g ta b le s h o w s th e e x p o r ts a n d im p o r ts o f
sp e c ie a t th e p o r t o f N e w Y o r k fo r th e w e e k e n d in g S e p t . 2 5
a n d sin c e J a n . 1 1 9 0 9 , a n d fo r th e c o rr esp o n d in g p e r io d s in
1 9 0 8 a n d 1907:
E X P O R T S A N D IM PO R T S O F S P E C IE A T N E W Y O R K .

8
2 .551.022.4
2 .5 6 3 .9 1 6 .2
2 .5 0 7 .6 3 5 .5
2.5 7 0 .7 1 4 .7
2 .5 8 0 .2 3 7 .8
2 .6 7 3 .3 9 1 .2
2 ,5 6 8 ,1 8 1 ,7
2 .5 5 2 .7 9 2 .6
2 ,5 4 3 ,7 7 8 ,0

S
2 ,6 0 4 .1 5 4 .9
2 .0 1 0 .1 8 5 .2
2 .6 1 7 .9 3 0 ,8
2 .0 1 1 .4 0 9 .4
2 .6 1 4 .2 0 2 .2
2 .6 0 0 .0 5 4 .5
2 ,5 7 8 .8 7 8 .7
2 .5 6 5 .3 8 4 .6
2.5 4 5 ,7 1 1 ,1

3 1 ..
7 -1 4 ..
2 1 ..
2 8 ..
4 ..
I t..
1 8 ..
2 5 ..

Specie.
S
4 3 7 .0 4 2 .8
4 3 4 .3 4 5 ,5
432 .1 1 0 .1
4 2 8 .5 0 0 .3
4 2 5 .3 6 7 .2
4 2 0 .2 4 4 .8
4 1 0 .8 8 4 .4
405.9 2 7 .4
4 0 5 .9 9 9 .3

S
104.904,6
10 1 ,9 0 7 ,0
101,0 8 9 ,2
9 8 ,7 5 3 ,7
9 9 .9 8 6 .0
9 8 ,5 3 8 ,2
9 5 .2 3 4 .0
96.0 0 1 .1
9 4 ,1 5 3 ,5

S
541 .9 47 .4
530.2 52 .5
5 3 3 ,2 0 5 ,3
5 2 7 .2 5 4 .0
5 2 5 ,3 53 .2
5 1 8 .7 8 3 .0
5 0 6 .1 1 8 .5
5 0 0 .9 2 8 .5
5 0 0 ,1 5 2 ,8

S
5 6 9 .9 5 5 .0
5 6 4 .8 2 3 .3
5 0 1 .4 2 2 .0
5 5 4 .2 4 2 .3
5 5 2 .4 7 6 .3
5 4 6 .7 3 1 .7
5 3 5 .3 0 4 .8
5 2 8 .4 1 2 .4
625 .8 9 6 .1

R e p o r ts o f N o n -M e m b e r B a n k s .— T h e fo llo w in g is th e
s t a t e m e n t o f c o n d itio n o f th e n o n -m e m b e r b a n k s for t h e
w e ek e n d in g S e p t . 2 5 , b a s e d o n a v e r a g e d a ily r esu lts:
We om it two ciphers (00) In all these figures.
Loans,

Legal

Deposit w ith —

//t.YC c.j

C api­
tal.

Sur­
plus.

and
Invest­
ments.

Specie.

and
Bank
Notes.

I I I

B a n k s.

Exports.
Week.

Tot. M oney Entire Res.
Holdings. on Deposits

Legals.

1906.
$10 ,0 7 9 ,0 0 2
4 28,054,793

Im ports.

Gold.

GREATER NEW YORK.
We omit two ciphers (00) in all these figures.

Loans and
Investm ents.

1907.
$ 1 5 ,6 8 8 ,3 4 4
4 4 8 ,2 3 7 ,9 4 0

T o ta l 38 w e e k s------- --------- $ 4 4 3 ,0 8 7 ,0 4 3 $4 6 9 ,0 4 0 ,3 9 4 $4 0 3 ,9 2 6 ,2 8 4 $ 1 38,133,795

C O M B IN E D R E S U L T S O F B A N K S A N D T R U S T C O M PA N IE S IN

Week
Ended.

1908.

$ 1 2 ,3 3 7 ,7 2 8
4 5 0 ,7 0 2 ,6 6 6

| *

* As of April 28.

a T h ese are th e d ep osits a fter elim inating th e Item "D ue from reserve depositories

1 Other

N et
Banks, Deposits.

1 * e-

G reat B ritain _____
.
F rance
G erm any _ _
W est I n d ie s_______________________
M exico
S o u th A m erica ____________________
All o th er c o u n tr ie s________________

Since J a n . 1

Week.

Since J a n . 1

2 ,0 6 1 .1 9 5
5,000
42 ,7 5 8 ,4 5 0
4 ,0 3 0 ,4 4 5

$5 ,5 0 0
5 ,2 9 0
4 0,095
10,724

$ 1 9 9 ,4 2 8
2 ,1 5 3 ,0 9 0
1 0 ,0 5 5
5 9 4 ,5 6 5
4 01,829
1 ,871,829
1,631,289

$ 10,000 376 .6 9 4 ,4 4 2
506,125 47 ,6 4 7 ,9 2 5
2 ,000 3 4 ,4 3 4 ,0 1 5

* 61,609
7 60,909
70 ,6 4 0

* 6 ,8 6 2 ,0 8 5
14,1 1 7 ,0 6 9
7 ,9 2 5 ,0 9 2

5 1 3 ,958,120
13,881,232
$10 ,0 0 0
.............

T o ta l 1 9 0 9 .................................... .........
T o ta l 1908
.........................- ...........
T o ta l 1907.............................................
Silver.
G reat B r it a in .......... ................................
France
_________________________
G erm any
W est Indies
___________________
M exico .......................................................
S ou th A m erica
____________
All o th er c o u n t r ie s _____________ _

$813 ,0 0 2 $ 3 0 ,5 9 7 ,8 7 9
140,000
3 ,2 6 1 ,5 5 0
11,090
107,731
.......... * 44 ,2 2 6
30 ,7 1 2
2 ,683

$35 2
9 7,197
51 ,0 8 6
10,343

$ 2 1 6 ,1 7 5
6,507
6 4 ,795
103,075
1,753,624
771,251
S30.220

T o ta l 1 9 0 9 .......... ........... .......................
T o ta l 1908..............................................
T o ta l 1 9 0 7 ..............................................

$956,285 $ 3 4 ,0 5 3 ,1 8 8
810.0161 3 1 .3 5 0 ,6 8 5
1,138,1591 3 7 ,6 3 8 ,7 0 5

$ 158,978
6 1,953
5 3,242

$ 3 ,7 4 5 ,6 4 7
2 ,7 0 8 ,3 1 0
2 ,2 6 2 ,4 0 5

O f th e a b o v e im p o r ts for th e w e e k in 1 9 0 9 , $ -------w e re A m e ric a n g o ld c o in a n d $ ____ A m e ric a n s ilv e r c o in .
O f th e e x p o r ts d u rin g th e sa m e tim e , 8 1 0 ,0 0 0 w e re A m e r i­
ca n g o ld c o in a n d 8 ____ w ere A m e ric a n silv e r c o in .

N. Y. C ity.

Boroughs of
M a n .& B rx .

3
100,0
W ash. H gts.
200,0
C entury ___
4 0 0 .0
C o lo n ia l__
C olum bia . .
300,0
200,0
F id elity . . .
Jefferson __
600,0
250,0
Mt. M orrls.
200,0
M u tu u l-----100,0
Plaza ..........
200,0
23rd W ard.
U nion Kxch 1,000,0
100,0
Y orkvllle . .
200,0
N ew N e th ’d
200,0
B a tt.P k .N a t
3 0 0 ,0
A etn a N a t .

Boro ugh o f
Brooklyn.

200,0
B roadw ay .
252,0
M frs.’ N a t .
M echanics’.. 1,000,0
750,0
N assau N at.
3 0 0 ,0
N a t. C l t y ..
200,0
N ortli S id e .
J ersey C ity.
400,0
First N a t . .
250,0
IIud.C o.N at
200,0
T hird N a t . .
H oboken.
220,0
First N a t._
125,0
S ccond N a t.

S
1,3 3 0 ,0
1,659,1
5 ,088,1
5 ,6 5 1 ,0
9 3 0,7
3 ,5 3 2 ,6
2 ,7 3 3 ,0
3 ,9 0 3 .0
3 ,9 5 7 ,0
1,9 3 3 ,5
7,970.1
4 ,2 7 3 .9
2 ,0 4 3 ,0
1.1 5 1 .0
2 .0 9 3 ,9

$
S
94 ,0
111,0
3 0 ,0
2 35,3
7 12,8
427.4
5 0 6,0
5 4 3 ,0
86,4
62,1
10,0
3 79,8
5 0 9,0
25,3
23,3
6 39,0
3 2 0,0
3 9 4 ,0
156,2
49,1
796,7 1,225,0
49,6
822,3
2 0 8,0
69 ,0
2 4 5,5
36 ,0
4 2 9,0
37)4

$
2 0 9,0
65,9
702,7 |
4 2 0,0
103,1
229 1
SOLI
367,4
7 19,0
2 41,8
133,3
286,7
199,0
80,3
50 ,5

531,3 .8.277,0
7 8 7,6 <1,165,4
927,7 12,830.8
9 49,0 6 ,8 5 4 ,0
5 93,8 4 ,2 9 9 .0
139,7 1,7 3 7 ,8

25,7
4 57,5
6 1 4,8
131,3
312,1 1,530,0
3 8 8 ,0
4 76,0
121,0
610,0
1.35,9
81.0

367,1
6 83,6
2,028,01
1 ,1 6 7 ,0
040:o 1
3 20,0

259,5 3 ,9 9 7 ,8
176,0 6 ,6 5 8 ,4
2 79,0 1 7,009,0
6 ,9 9 7 ,0
160,0 5 ,4 5 9 ,0
3 0 6 ,8 2 ,3 7 3 ,8

$
243,1
154,4
2 8 3 ,5
452,9
164,3
657,7
283,8
3 2 2,3
4 10,6
95 ,4
934,4
4 56,0
258,4
146,5
3 1 6 ,8

8
129,7
403,7
171,8
79,5
52
____
251,6
5,0
2*1*3

$
1 ,3 6 8 ,0
1 ,8 7 0 ,0
6 ,7 7 4 ,9
0 ,5 8 9 ,0
9 4 0 ,6
3 ,4 4 4 ,3
3 ,4 9 5 ,3
4 ,4 7 7 ,7
4 ,8 7 5 ,0
2 ,2 0 7 .4
7 ,9 5 0 ,3
5 ,5 2 6 ,0
2 ,1 0 7 ,0
1,1 4 5 ,5
1 ,960,2

1,222,1
7 25,8
380,2

4 ,5 5 8 ,9
2,9 7 6 ,7
1 ,959,2

3 1 2,6
108,5
56,1

345,2
42 ,5
11 1 ,4

2 ,1 5 2 ,9
185,4
401,8

410,0
125,0
22 ,9

6 ,4 3 4 ,8
2 ,671,1
2 ,3 1 0 ,0

6 2 6,5
2 3 2,6

2 ,3 4 3 ,9
2 ,3 9 8 ,0

102,8
79,7

12.4
92,6

115,1
56,4

58,4
273,3

1 ,7 7 9 ,9
2 ,7 3 0 ,7

T ot.S ep t.25. 8 ,147,0 12,296,4 9 7,656,0 0,554,3 8 ,946.2 12,658,2 3,204,7 113159,3
T o t. Sept. 18 8.147.0 12,229,4 9 5,499,6 6,3 2 7 ,6 9 ,139,2 14,605,6 3,796,1 113327,5
T ot. Sept. 11 8 ,1 4 7 ,0 12,266,0 9 4,161,6 6 ,437,3 9 ,139,2 12,795,5 4,129,2 110693,8




f a u lt in g a n d ^ fin a n c ia l.
We shall be pleased to furnish to Institutions and Investors copies
>f our special circular describing
43 RAILROAD BONDS
Listed upon the New York Stock Exchange

Spencer Trask & Co,
WILLIAM AND PINE STS..
NEW YORK
Branch offices: Chicago. 111., and Albany, N. Y.

M o f f a t

&

W

h i t e

BANK ERS
Members New York Slock Exchange

5 NASSAU STREET.
NEW YORK
R a n k in g a n d E x c h a n g e o f e v e r y
d e s c r ip tio n In c o n n e c tio n w it h

International
no.

THE ROOKERY
CHICAGO

IMPORTS AND EXPORTS

Banking

Corporation

6o w a l l s t r e e t , n e w y o r k
Special facilities f or travelers.
Capital & Surplus. $6,500,000
In all parts oi the World
Branches at Home and Abroad.

W a l l S t r e e t , F r i d a y N i g h t y O c t . 1 1909.
The Money Market and Financial Situation.— Notwith­
standing the disturbing influences of the really wonderful
Hudson-Fulton celebration, which at times during the week
has attracted large numbers from the financial district, the
average volume of business has been maintained at the
. Stock Exchange and prices have generally been firm or ad­
vanced.
.
It is doubtless true that nearly every basic influence
has been of a character to strengthen confidence in the
business situation and to stimulate the activity which is
everywhere apparent. The latter is perhaps best illustrated,
as is often pointed out, by exceptionally favorable railway
traffic reports and by the rapidly increasing orders for iron
and steel products.
An event of the week, not wholly unexpected, was an
advance in call loan rates to 4%. It occurred near the
close of business on the last day of September and was inci­
dent to the anticipated October 1st settlements. It does
not, therefore, signify that the supply of loanable funds is
commanding higher rates except for the moment, although
the larger amount required in the broadening channels of
trade and in the rising tide of speculation will doubtless lead,
eventually, to such a result. There was a further advance
to-day to 4 ^ per cent. The foreign bank statements also
show preparations abroad for the quarterly settlements,
but otherwise indicate no change in general financial condi­
tions.
The open market rates .for call loans at the Stock Exchange
during the weok on stock and bond collaterals have ranged
from 2% to 4%. To-day’s rates on call were 3 @4%. Com­
mercial paper quoted at 4 @4}^% for 60 to 90 day endorse­
ments, 4 H @ 5 % for priirm and 4 to 6 months’ single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £2,174,057 and the percentage
of reserve to liabilities was 50.36, against 52.77 last week.
The rate of discount remains unchanged at 2 % % > as fixed
April 1. The Bank of France shows a decrease of 20,050,000
francs gold and 1,775,000 francs silver.
N E W Y O R K C IT Y CL E A R IN G -H O U SE B A N K S .
1909.

Averages fo r
week ending
Sept. 25.
S
127,350,000
C a p ita l_______________
S u rp lu s................................
177.371,800
L oan s and d is c o u n ts .. - 1 .316,9 4 2 .1 0 0
51 ,5 5 9 .6 0 0
C irculation.........................
N e t d e p o sits............... ....... 1,343.5 5 1 ,9 0 0
1.766.800
U . S. d ep . (Inel. above)
2 7 4.3 0 3 .9 0 0
S pecie ...............................
71,4 6 1 ,5 0 0
Legal ten d e rs....................

1908.

Differences
from
previous week.
$
D ec. 'ld ,6 3 l',5 6 6
157,700
D ec.
D ec. 11 ,8 3 3 ,6 0 0
5 3,100
Inc.
135.200
D ec.
53 7 .3 0 0
D ec.

Averages fo r
week ending
Sept. 26.

1907.

Averages fo r
week ending
Sept. 28.

S
S
■
12 6 ,3 5 0 ,0 0 0
1 2 9 ,400,000
164 ,0 0 8 ,3 0 0
1 6 1 .1 1 5 .9 0 0
1 ,3 1 2 ,0 2 0 ,5 0 0 1 ,1 0 0 ,3 5 1 ,5 0 0
5 4 ,1 1 6 ,5 0 0
5 0 ,6 3 8 ,5 0 0
1 ,4 0 5 ,9 3 5 ,0 0 0 1 ,0 5 5 ,1 0 3 ,7 0 0
9 ,3 3 6 ,2 0 0
3 1 ,6 1 3 ,4 0 0
321,194,500 1 9 8 ,8 0 7 ,9 0 0
8 0 ,3 2 8 ,8 0 0
70.637,100
2 6 9 .4 4 5 ,0 0 0
2 6 3 ,7 9 8 ,4 2 5

3 4 5 ,7 6 5 ,4 0 0 D ec.
3 3 5,8 8 7 ,9 7 5 D ec.

6 72.500
2 ,9 5 8 ,4 0 0

4 0 1 ,5 2 3 ,3 0 0
3 5 1 ,4 8 3 ,7 5 0

Surplus r eserve_____

9 .8 7 7 ,4 2 5 Inc.

2 ,2 8 5 .9 0 0

5 0 .0 3 9 ,5 5 0

5 ,6 4 6 ,5 7 5

Su rp lu s, e x c l. U . S . dep

10.3 1 9 .1 2 5 In c.

2 ,2 9 9 ,1 7 5

5 2 ,3 7 3 ,6 0 0

1 3 ,549,925

R eservo h e ld __________
26% ot d e p o sits...............

N ote .— T h e Clearing H ou se now Issues a sta te m en t w eekly sh o w in g th e to ta l
of th e actu al figures on Satu rd a y m orning. T h ese figures, together w ith the returns
of sep arate b an k s, also th e su m m a ry issued b y th e S ta te B a n k in g D epartm en t
sh ow in g th e con d ition of S ta te bank s and tru st com panies n o t reporting to the
Clearing H ou se, appear on th e secon d page preceding.

Foreign Exchange.— T h e m a r k e t w a s d u ll a n d lo w e r th is
w e e k w it h flu c tu a tio n s w ith in a n a rro w ran ge; e x p e c t a t io n s
o f m o re or le s s te n s e d is c o u n ts a b r o a d e x e r te d s o m e in flu e n c e .
T o - d a y ’s ( F r id a y ’s) n o m in a l r a te s for s te r lin g e x c h a n g e
w e re 4 8 5 ) ^ fo r s i x t y d a y a n d 4 87 for s ig h t . T o - d a y ’s (F r i­
d a y ’s) a c tu a l r a te s fo r ste r lin g e x c h a n g e w ere 4 8 4 2 0 @ 4 8 4 2 5
fo r lo n g 4 8 6 @ 4 8 6 0 5 for sh o r t a n d 4 8 6 2 5 @ 4 8 6 3 0 fo r
c a b le s . C o m m e rc ia l on b a n k s 4 8 4 @ 4 8 4 0 5 a n d d o c u m e n ts
fo r p a y m e n t 4 8 3 > g @ 4 8 4 M l c o t to n for p a y m e n t 4 8 3 ^ @
4 8 3 l/ i \ c o t to n fo r a c c e p ta n c e 4 84 @ 4 8 4 0 5 a n d g rain for
p a y m e n t 4 84
@4 8 4 ^ .
T o - d a y ’s ( F r id a y ’s) a c tu a l r a te s for P a ris b a n k e r s ’ fran cs
w e re 5 1 9 % @ 5
for lo n g a n d 5 1 6 % /t@ 5 1 6 % a for
s h o r t. G er m a n y b a n k e rs m a rk s w e re 9 4 5 4 @ 9 4 13 -1 6 for
lo n g a n d 9 5 * 4 d @ 9 5 M for s h o r t. A m s te r d a m b a n k e r s ’
g u ild e r s w e re 4 0 .1 8 (5 )4 0 .2 0 for s h o r t.
E x c h a n g e a t P a ris on L o n d o n , 2 5 fr. 14c.; w e e k ’s ra n g e ,
2 5 fr . 1 4 c . h ig h a n d 2 5 fr. 1 3 ^ c . lo w .
T h e w e e k 's ra n g e fo r e x c h a n g e r a te s fo llo w s:
-------------- Long ------------------------------ Short—------------ ------------ Cables-----------,
@ 4 8485
14 8610
@ 4 8615 4 8630
@ 4 8635
@ 4 842 0
14 8595
@ 4 86
14 8615
@ 4 8620

Sterling, Actual —

H ig h ............ 4 8425
L o w ............ 4 8410

P a r ts H a n k e rs’ F ra n c s—

H ig h ______ 5 18 H a
L o w .............5 19%

@ 5 18 %
@ 5 I8 %n

15 16%
15 16 J4h

@ 5 16 Vsd I
@ 5 16 %o |

----------------------------------------- --------------

G erm an y B an kers' M a rk s—

H ig h .............
L o w ______

94 13-16 @ 94%
I 95 3-16
94%
@ 94 1 3 - 1 6 | 95% d

@ 9 5 %d
@ 95%

I
|

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

@ 40 20
@ 40 18

I
I

........ ................ ...........
.............- .....................

A m s t e r d a m B a n k e r s ’ G u ild e r s —

H i g h . . ................. .........
L o w ................................
Less:
Plus:

@
@

a 1-16 of 1% .
k 1-16 of 1% .

..........
_____

I
|

40 18
40 16

d 1-32 of 1% .
x 1-32 of 1% .

h 3-32 of 1% .
y 3-32 of 1% .

The following were the rates for exchange at New York at
the undermentioned cities to-day: Savannah buying 50c.
per $1,000 discount; selling 75c. per $1,000 premium; Charles­
ton selling $1 per $1,000 premium. New Orleans bank 75c.
per $1,000 discount; commercial $1 per $1,000 discount.
Chicago 25c. per $1,000 discount. St. Louis 20c. per $1,000
discount. San Francisco 25c. per $1,000 premium. Mont­
real 3 \ y i n . per $1,000 discount.




State and Railroad Bonds.—Sales of State bonds at the
Board are limited to $20,000 Virginia 6s] deferredj^trust
receipts at 45 to 45 % .
The market for railway bonds has been more active and
generally firm in tone. Several convertible issues have
advanced sharply in sympathy with the shares, including
Atchison, Union Pacific, New York New Haven & Hartford
and Pennsylvania, nearly all of which are from 2 ^ to 5
points higher. Other strong features have been Burlington,
Chesapeake & Ohio and Interborough-Metropolitan. Some
of the Denver & Rio Grande and Wabash issues have
shown a tendency to weakness, while the active list, other
than mentioned, has been steady.
United States Bonds.—Sales of Government bonds at
the Board this week were $1,000 coupon 3s, 1908-18, at
101 3^2 - The following are the daily closing quotations;
fo r

2 s,
2s
3s,
3s,
3s,
4s,
4s,
2s,
2s,

y e a r ly ra n g e

s e e t h i r d p a g e f o l l o w i n g . _____________

1930 .................r e g iste r e d
1920
_ __ roupon
1908-18.......... ..r e g ister e d
1 9 0 8 -1 8 .................co u p o n
190 8 -1 8____sm all coupon
1925 _________ registered
1 9 2 5 .......................... coupon
1 9 3 0 .Panam a Canal regls
1 9 3 8 .P anam a Canal regls

Interest
Periods

Sept.

Sept.

Sept.

Sept.

Sept.

Oct.

25

27

28

29

30

1

Q— Jan
Q— Jan
Q— Feb
Q— Feb
Q— F eb
Q— Feb
Q— Feb
Q— Feb
Q— N o v

*100%
*100%
* 10 1%
H olt101%
dav
*116%
*117%
* 100%
* 100%

* 10 0% * 1 0 0%
*1 0 0 % * 10 0%
♦ 101% * 1 0 1 %
* 101% (* 101%

* 10 0% ♦ 100%
♦100% ♦100%
* 101% i*101%
* 101% * 1 01 %

♦116% *116%
*117% *117%
* 100% * 100%
* 100% j* 100%

*116%
*117%
* 10 0%
* 100%

*116%
*117%
* 100%
* 100%

* T h is Is the price bid a t the m orning board; no sale w a s m ade.

Railroad and Miscellaneous Stocks.—The stock market
has continued active, and was strong during the early part
of the week. The transactions on Wednesday amounted to
nearly 1,400,000 shares and throughout the week have been
above the recent average. On that day also the highest
quotations were generally recorded, and in a few cases new
high prices for the year were reached. Among the latter
are Pennsylvania, Atchison, St. Louis Southwestern, United
States Steel common and preferred, Central Leather and
National Biscuit. Other notably strong features are Union
Pacific, which advanced 8 points from last week’s closing
price, New York Central, Southern Pacific and Reading,
which moved up from 4 to 5 points. A few issues showed
the opposite tendency. Erie common and 1st preferred
declined 3 and 4 points respectively and others have barely
held their previous quotations, or are fractionally lower.
To-day’s market has been decidedly irregular, in some cases
erratic, and the figures mentioned have been subjected to
more or less change—steel common closing 3 points higher
than last night.
Except the industrial stocks mentioned above, the mis­
cellaneous list has been less conspicuous than usual.
Westinghouse, however, advanced nearly 4 points, and
retains a substantial portion of the gain.
F o r d a i l y v o l u m e o f b u s i n e s s s e e p a g e 834.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.

W
ppTc t/ttU/ty
p>
itlinti Dr/ 11.
rr tc/f

! Sales
fnr
I\ JOT
| Week.

Range since Ja n . 1 .

Range fo r Week.
Loioest.

1

Loioest.

Highest.

1
Minn S t P & S S M— su b ­
625 140% S ept 29 142
scription s 4 th p a id __
N ew Y ork D ock ...............
200 40
S ep t 29 40
P r e fe r r e d ........................
200 82
S en t 29 82
P itts F t W ayne & C h lc ..
15175
S ep t 3 0 1 7 5
U n lted Cigar Mfrs, pref.
100 109
S ep t 29 109
U S L eather, pref............. 1,110 125% S ep t 2 9 1 2 8
Vulcan D c tln n ln g ............. 1,040 22% S ep t 27i 25,%
P r e fe r r e d ........................
400 72
S ep t 28 73
W est Md deposit rects
S ep t 30 13
1s t p a i d ........................... 3 .500 12
200 23% O ct 1 23%
D ep o sit rects 2d p d . . .

O ct
S ept
S ept
S ept
S ept
S ep t
S ep t
S ep t

1
29
29
30
29
30
29
28

Highest.

130
May 142
30
Feb 47
Jan 82%
75
173% Mcil 175
Jan 110
99
Mcli 128
115
Fob 27%
6
Jan 78
45

O ct
Ju ly
Aug
Apr
M ay
Mch
S ep t
S ep t

Sept 15% S ep t
S ep t 29 12
O ct 1 33% Oct 23% O ct

Outside Market.—There was no definite trend to the out­
side market this week; prices held fairly steady, trading with
the exception of one or two issues being quiet. Chicago Sub­
way, after a slight show of strength, from
to 10, was
forced down under further heavy liquidations to 6%, re­
covering finally t o 7 % . American Tobacco sold down about
7 points to 443 but moved up again to 455. American
Writitng Paper showed an improvement of 1]^ points to
28M- Sears, Roebuck & Co. common advanced from 113^
to 121, reacted, and ends the week at 118%. Southern Iron
& Steel, common, “w .i.,” opened the week at 20%, declined
to 19% and ran up to 22,with subsequent transactions down
to 20%. The preferred, “w. i.,” moved from 54 to 54%
and down to 52%, ending the week at 53%. Standard Oil
transactions were between 702 and 700. United Cigar
common rose from 81 to 82% and weakened to 82. In the
bond department transactions were reported for the first
time in the new New York Telephone 4%s, “w.i.," between
95 and 96. Western Pacific 5s declined from 98% to 97%
and recovered to 98%. In the mining department Cumberland-Ely was a prominent issue, selling down at first from
6 15-16 to 6 and up to 7 9-16. Boston Consolidated gained
a point to 16 and declined to 15%. British Columbia ad­
vanced from 6% to 7 and weakened to 6%. Butte Coalition
opened the week at 26% and dropped to 25% and sold at
25% finally. Davis-Daly went up from 5% to 6% and closed
to-day at 6. Nevada Consolidated advanced from 24% to
24% and finished to-day at 24%. Goldfield Consolidated
went up from 6 15-16 to 7, but weakened and closed to-day
at 6%. Nipissing from 12% reached 12%, fell back to 12
and ends the week at 12%.
Outside quotations will be found on page 834, ~j ]]-£]

New fork Stock Exchange—Stock Record, Daily, Weekly and Yearly
O C C U P Y IN G

ST O C K S--H IG H E S T A N D L O W E ST
Saturday
Sept. 25

Mon dag
Sept 27

Tuesday
Sept 28

, Wcdne day
Sept 29

A L E 1’IilC E S.
Thursday
Sept. 30.

TW O

Sales o!
Friday
Oct 1.

IM fjK s

ST O C K S
N E W Y O R K ST O C K
EXCHANGE

Week
Shares.

Range since Ja n . 1 luoy.
On basis / 100 -share Ms

0

Highest

. R a ilr o a d s
118i2 119*8 119% 12338 122**8 1245, 1227s 1241.1 1237g 12478 540,250 A ten T o p e k a & S a n t a F e
977s J a n 13 12478 O c t 1
*104 1041? 1041.1 IO4I4 1013s 104% 10434 104-s 105 105
1,100 Y x
D o p r e f____________ lO O UJan 20 1()034 .) 'jh*2
134 13 412 134 13912 130 1373.1 *135 137 *135 138
1,500 A tla n tic C o a s t L in e 1! R . . 107*2 J a n 14 14312 A u g 12
116*3 H 714 117 IPJI4 11834 M oss 1181s 11938 1181.1 118% 41,550 B a l t im o r e & O h io _____
10312 F e b 23 12214 J ’l y 26
95
95
*9414 95
*95
951.4
*9414 95
*9114 95
100 * '
D o p r e f___________
90 A p r 12
92 F e b
79*4 SOI4
791* 80*8
SO
81%
8034 38,175 B r o o k ly n R a p id T r a n s it
79% 81
80
82% J 'n c 7
07 J a n 9
1841* 18514 18434 185*.i 185% 180% 187 18834 22,700 C a n a d i a n P a c ific ______ *105 M ch 3 189% A u g 2
183*4 184
*081* 71
*081* 71
*08
70 * ____ 70 *____ 70
'-C a n a d a S o u t h e r n _______
60*4 A u g 21
6OI4 J a n 11
320 320 *310 320 *310 320 *310 320 *310 320
100 C en tra l o f N e w J e r s e y ___ 215 F e b 2., 32 3 i2 S e p IS
83IS 83*4
801* 89'*s
88I4 891* 140,800 C h e s a p e a k e & O h io _____
83*4 8 4 14 84% 87
8 9 l2 O c t 1
£5*8 J a n 0
60
0 u53 655,8
001* 07l8 O7I4 6734
60*i
653.1 07
2,400 C h ic a g o & A lto n R R ____
743, A p r 1
67% F e b 24
75 i*____ 75 * ___
75 * ____ 75 * ____ 75
D o p r e f ________________
71 F e b -4
781* Mchf'?
*14*., 1514
1514 ISM
1434 15
14»’8 15
3,400 C h ic G W e s c tf s d e p 2 d pd
14
15
7,8 A u g 20
10i2 S ep
*82
*62
*001*
*62
____ 4-0012
D o 4% d e b e n c tf s d e p .
34
34
*33
34
200
35U *32
3H S 31ls *3112 331*
D o pref “ A ’' c tf s d e p .
27 A u g 10
35*4 A u g 30
*201,3 2034
20
1U34 1934
20
900
191* 20
*191* 203*
D o pref “ B ” c t f s 2 d pd
21 S e p 22
ft 13% A u g 23
159-8 1013S 1603, 162
IGU s 1021? 1013,s 1021* IOU4 10213 47,390 C h ic a g o M Ilw & S t P a u l . 141 F e b 23 IG6l8 S e p 18
17o 175
175U 177
1761s 176io 170U 17615 1763s I 77L
2,180
D o p r e f ________________ 158'* M ch 16 1S1 A u g ! 6
19H 2 193
193 1933, 1921* 193
2,300
1911., 192
191 io n *
C h ic a g o & N o r th W e ste r n l / 3 i s F e b 24 10S12 AU g I s
*225 230 *220 230 *220 230 *220 230 *220 230
D o p r e f ________________ *208 M c h lj §230 A u g
160 102
1G31* 10312 104 164 *100 102
100 163
805 C h ic S t P M inn & O m a h a 148 A p r 22 107 A u g l
*105 175 *105 180 *170
180 *170 180 *170 180
D o p r e f ________________ 10Oi2 J a n 30 : 180 J ’ly 27
*51*
01* * 51*
0«4
*5
0
*5
C h ic U n T r a c c tf s sttn p d
4 J 'ly
7 Jan
*1314 1512 *14
151* *14
151? *1312 151* * 121* 15
D o pref c tf s s t m p d ___
12 J ’l y 12
ISI4 J a n 27
741* 741*
*73<s 75
741* 75-s
7534 703,
7,400 C lc v c C ln C h ic & S t L ___
70
77%
68 J a n 29
79i2 F e b I f
*1031* n o
*103
110 *103 110 *103
110 *1021* 110
D o p r e f ________________ 100 J a n
105 M ch 22
*53
5-1
§53
53
*53
10 C o lo ra d o & S o u t h e r n ____
*53
5 3 l2 *53
54
61% S e p 10
686, J a n
*79
80
791* 791*
80
80
79% 80
1,055
80
80
D o 1 s t p r e fe r r e d _______
7o% J a n 2
86 M ay
/8
78
78l.i 781., *78
450
79
7812 781* *78% 79
D o 2d p referred
7314 J a n 2
84% J a n
19U* 1921s 192 192% 1921* 193
3,048
19U.1
1921*
191 19173
e la w a r e <5c H u d s o n ___ 107*4 F e b 24 200 M a v l4
*550 580 +550 6 /0 *550 570 *550 570
200
560 570
e la w a r e L a c k & W e s t . 536 F e b u 080 A p r 22
47
40% 47U
4714
2,000 D e n v e r & R io G r a n d e ___
463S 47%
40
40
451* 40>8
64 A p r
37*8 J a n 0
86
851?
1,450
85^2
*851* 801? *85t2 8012
8512 8 558
D o p r e f ________________
90 F e b 10
79i2 J a n 0
*70
74
*69
75
70U 7(J12 §70
*08
71
445 D e tr o it U n it e d ___________
70
60 J a n 3 0 ; 71% A u g 13
*1514 10
*151., 10
*151* 10
161*
10
950 D u lu th S o S h o r e & A tlan
10
16
15 A u g 30
21 J a n 15
29
29
*29
30% *29
31
1,700
2912 3012 3014 313,
D o p r e f________________
28 F e b 23
36l2 J a n 15
321.j 33 <8 32!2 34
31°S 34%
33»s 101,975 I s ' r l e ..............................
33
335S 33
39 J ’n e 7
22*s M c h ll
47*, 6034 4S3.i 423.,
4934 50>s
9,400
4914 4914
4913 4914
D o 1 s t p r e f___
60*4 A u g
30l2 M ch 1 .
381o 421,,
3914 40
3038 393,, *39
391* 391*
2,400
401*
D o 2d p r e f ___
2S12 M c h ll
40 A u g 2
1523., I5312 152-*4 154
154
154i2 1533., I 54I4 1533g 1533., 17,480 G re a t N o r th e r n p r e f _____
1365s F e b 24 1577s A u g 12
61
83
» 1»2
S ll4
83I2
83
84
13,150
831* 833.1
Iro n O re p r o p e r tie s ___
0 5 1 s Mch 12
8812 A u g 1’.
*14*, 15
15
14 F e b 20
G reen B a y & W , d e b c t f B
17 J a n 4
80 * ____
*7
80
*75
80
*77*4 79
*75
80
39 F e b 1
78i2 S e p 14
a v a n a E le c tr ic
*831* ____ *87
*89
D o p r e f____
83% F e b 5
90 S e p
+118 122 * U S
122
*118 122 *118 122
H o c k V a l J P & M C o r e ts
97 M a y 3 120 A u g 14
*90
91
*90
90
90
*90
91
88 A p r 2
9 4 i2 J ’n e 11
100 H o c k in g V a l l e y p r e f ____
*90
91
1521s 1523. 1621* 15534 1521* 15414 15334 154
152*8 15314
2,800 | llln o ls C e n tr a l_________
137 F e b 2: 162is A u g 12
14% 15%
143. 15
1434 15!8
15,700 T n te r b o r o -M e t r o p o llta n .
15
16
19 J a n 6
14% 1
1 1 * 8 M ch 23
48I4 4878
481
48% 48%
48
62*8 J ’n e 28
48>4
27,110
30% M ch23
48
481.1 501
D o p r e f.
281* 281» *29
2912 2912 293, 30
29*4 2984
27 F e b 24
30 A p r 16
820 Io w a C entral
§52
52
51
51
♦ s iio £21
02 A p r 15
52
521s
52
48 S e p 9
52
1,500
D o pref
S212 *81
82
817J BVg *81
*81
82 S e p 14
82
82
*81
100
74*4 F e b
C F t S & M tr c fs , prei
453$ 4614
4 5 '8 4(>li
37 F e b 23
6OI4 A u g 18
4514 4G38 4578 4578
0,750
a n s a s C ity S o u t h e r n ..
457S 45%
7212 7378 *71
7812
72
72% 72*4
7612 A u g 18
07?8 F e b 21
7,050
D o p r e f____________
71*2
711s 72
2534 *21
*24
*24
25
20
*24
291* A u g 2
26
20
19i2 F e b 25
200
a k e E rie & W e s t e r n . .
*52
*52
5912 691* *55
00
64% J ’ne 14
300 J
00
55
48
a n 23
65
D o p r e f__________
*00
*G5
081 *07
09
07
09
*00
400 L o n g I s la n d ______________
09
00
59 J a n 4
15334
152
153
lft 1% 152
15414
152 153 *152 15334
4,000 L o u is v ille & N a s h v ille ___ *121 Jan 29 102% A u g 12
1421* 1421* 142 14214 §1415s 1411*8 *1413, 1426i
5142 142
624
140% A u g 20 153% J a n 4
*20
22
*20
24
20
20
300
20
20
*20
24
18 J ’ly 2
e tr o p o llta n S t r e e t ___
42 J a n 6
523i 523,
52
5212 5278
f.214
1,200 M in n e a p o lis & S t L o u is .
521., 52*8 *513, 63
51 S e p 16
65 J a n 8
85
*82
80
85
*85
87
400
86
8 OI4 8661 *84
81 M ch 10
D o p r e f________________
90 J a n 8
1431* 1441s 144 14412 14 412 145
2,785 M inn S t P & S S M a r ie .. 13212 J a n
1441* 1451S *14238 143
1491* J a n
*101 105 *159 102 *1G0 105 *101
100 *158 1G212
D o p r e f________________ 147 A p r 13 104i2 A u g 9
897S 89% *89
897S
001
90
800
90
90
901*
89 J ’l y 22
92 S e p 17
D o le a s r d lin e c t f s ___
4 log
41
4112 41 <s
41's 42
41
41
413s 20,080 Mo K a n s a s & T e x a s _____
3512 F e b 23
44%Ja-> 22
413s
75
*74
7412 7412 741* 7478 *74
*74
75
75
600
75?s A u g 24
71 F eb 23
D o p r e f ________________
7014 71
6912 71
10,300 M issouri P a c ific
093.1
701S 71
69
7712 A u g 5
05 F e b 24
69*8 70
*120 128 *120 125 *130 135 *130 135
135 135
100 A f n s h C h a tt & S t L o u is . 1221* J a n 5 139!2 A u g 12
69
59
59
59
5812 581
700 1 ’ a t R y s o f M cx 1 st pref
5812 59
44l2 A p r
*581* 59
61 S e p 10
241* 25
243t 2518
2412 243,
2484 25
6,950
20*8 M ay22
2412 24*8
2 2 i2 A u g 16
D o 2d p r e f _____________
• 125 12534 135% 137*2 136*4 138I4 1301* 1371* 136 137
39,325 N Y C en tra l & H u d s o n . 120i2 F e b 24 147*4 A u g 18
*55
57
*54
57
*55
59 J ’n c 7
57
*54
200 N Y C h ic & S t L o u is ____
67l2 571
4Si2 Mch 16
57
*100 105 *100 105 *100 105 *100 118 *103 118
D o 1 st p r e f____________ 100 F e b 20 100 F e b 2u
*85
88
80
80
*85
88
*86
*80
88
200
88
76I4 A p r 0
S8 A u g 17
D o 2d p r e f____________
173
174
I 7 H 4 1741 *17314 1741* *171 1731
171I2 172
1,700 N Y N H & H a r tfo r d ____ 1571s F e b 24 17434 J ’n c 14
49
49
49%
49*8 50%
4914
55*8 J lie 12
7 ,500 N Y O n ta r io & W e s te r n .
50
501
4214 F eb 24
49's 50%
04
*9318 94%
941*
0434 96I4 951* 961.1
96*g A u g 7
95l8 9512 23,550 N o r fo lk fc W e s te r n _____
84% J a n 6
+0012 92% *90I2 02l2
90
901* *88
*80
92
300
92*2 J ’ly 28
92
D o a d j u s tm e n t p r e f ___
85*8 M ch2o
155*4 1501* 1561.4 157% 150 1561* 155*8 150
155 150
29,900 N o r th e r n P a d I t c _________ 13314 F e b 24 1591* A u g )
1081* 10934 HO *108 110 §110 110
100 100% 10/
1,210
70 M ch 3 110 S e p 29
a d lie C o a s t C o ________
*102 110 jlUO 106 " +102 110 *103
50
110 *105 110
D o 1 st p r e f _________ 100 M ch 39 §100 S e p 28
10034 100*4 109 109 *107
*105 110
200
D o 2 d p r e f _________
110 *10812 H I
88 M ch 27 109 S e p 29
14778
14978
1483s
149*1 15U.1 149*4 151
117%
14834 150 389,010 P e n n s y l v a n i a ____________ 1261s F e b ’13 15114 S e p 29
*92
9314 93I4
93
9314 94
3 ,810 P ltts b Cln C h ic & S t L . .
94% A u g 3
94
943
94
91%
80i2 J a n 5
*114
117% *114 1171* *114 1171* *114
D o p r e f________________ 104 F e b 10 IIOI4 S e p 21
1171 *114 1171*
1071* 1GS78 IOSI4 170*8 168 169*8 108 170 405,940
106% 108
e a d in g _________________ 118 F e b 23 173*8 S e p 21
* 9 U 2 931* * 9 U 2 03
0 U 2 911
90 A u g 23
*911* 931, *9112 93I4
300
89 M ch 2 2
1s t p r e f _____________
100 100
§100 100
100 100
100 “ 100
yo F e b 1 104*4 M a v l3
*99*i 102
870
2 d p r e f _____________
38
38
391*
38%
3914 4014
423s A u g 12
20/s F e b 24
3313 397. 55,350 R ock I s la n d C o m p a n y —
39*8 40
751* 77*8
751* 75%
771* 781
803S A u g 10
£7*s F e b 24
77
77% 14,860
771* 77*4
D o p r e f ________________
72%
*71
72
71's 7 H S *71
73 J ’ly i
200 Q t L A S a n F r , 1 st p r e f.
051., M ch 29
*71% 721,
71
71
581* 59*4
581* 68159
591
6034 S e p 10
59
59
2,000 Cl
30 F e b 23
583, 59!.,
D o 2 d p r e f ___________
20*8 31
28% 30
30I8 31*8
301
38,430 S t L o u is S o u t h w e s t e r n ..
30
201* F eb 26
313S S e p 29
301s 301*
70
093, 7018
70
70%
70*8
5,800
71i2 J ’n e 2
09*s 69*4
D o p r e f________________
6912 6934
47*2 J a n 0
13134 13331 1327s 134
13034 132
133*8 1351, *132*8 133*4 149,100 S o u th e r n P a c ific C o _____
11458 F e b 24 130's A u g 1
3018 3 H 8
303, 311
30% 303,
.30% 30*4
3OI4 30*4 12,100 S o u th e r n v tr cfs s t m p d .
34 A u g 11
22 F e b 24
70
7012 703,
71
7OI4 7012
-­
75 A u g 12
69% 09%
2,000
70
701
00 J a n 5
Do
pref
do
351* 30
3514 30
3538 351*
4012 A u g 23
35
30
6,100 ' T e x a s & P a c ific ________
35
30 F e b 24
35%
213, 22
221*
211* 221* 22
4,050 *■ hird A v e n u e (N Y ) ___
42% J a n it21% 221* 2 H4 22*4
10 J ’ly 2
10
*9
101
ln%
91*
300 T o le d o R a ilw a y s & L ig h t
9
7 M a y l2
9%" *9
15*8 J a n 2
i»4
5034 5078
50*4 61*8
3,3 0 0 T o le d o S t L & W e s t e r n . .
£4*4 A p r 19
50% 5138
61
51
43 F e b 20
5U s
61
713,
7214
71*4
7H*
091* 69*8
2,900
D o p r e f ________________
04% F e b 24
74U J a n 4
71% 7U s
zG9% 0 0 'S
1111
*1091* 1101* 1101* 1101* 1103i l l H s 111
111
1,260 T w in C ity R a p id T r a n sit
111
97 J a n 2 l l U 2 0 c t 1
202% 205% 20478 2071s 20078 2081
n io n P a c ific ___________ 1721* F e b 24 219 A u g 10
208*8 210*3 208 209*4 540,000
108 10812 108*3 108'3 108 1083, 17,400
10712 108
100 108
D o p r e f ____________ *94 M ch 1 H 8I2 A u g l( i
45
45%
45
-10
■15% 40
44
44
5,570 U n it R y s I n v ’t o f S a n Fr
30 F e b 25
47 S e p 13
44
4412
74*4 751* *74
74% 70%
70
70'4
75
74*4 70
D o p r e f ________________
6OI4 F e b 25
77 S e p 14
1912 2012
20
20% 1934 2OI4
24*8 J ’n e 15
191* 191*
19*8 1912
3,600
a b a s h ________________
16 F e b 23
50
481* 0112
5012 52
50%
4812 49' s 23,160
61*4 J ’n e i 6
D o p t e f ......................
41 F e b 23
48
49*8
2,500 W e s te r n M a r y la n d _______
3t* J ’ly 30
283s M a y 7
9
*9
10
9
12/8 J a n 4
9's
8
*8
8lS
9
1,400 W h e e lin g & L a k e E r ie ___
6 J ’l y 13
8
*18
20
15
*18
20
15
*10
10
19
2578 J a n 8
10
300
1514 J ’ly 13
D o 1 st p r e f____________
*10
12
*10
12
9
9
15ig J a n 8
9
*9
10
300
01* J ’ly 13
9
D o 2d p r e f____________
*53
651* *521* 67
357s J a n 0
*521* 5412 64% 54%
037s A p r 20
55
200 W isc o n s in C e n tr a l_______
55
91%
*871* ___J * 8 9 1 » ___
*891*
*88
«0U
*891*
D o nref T r u s t C o ctf*

D

H

91

20

K

2000

I

80%

P

R

*918

U

W

H ANK S

HUl

Ask

A N L)

Ask
Hid
Banks
C h a s e a E x V 200
N ew Yore
445
C h em ica l . . 430
180
__
A e t n a _____
C itiz e n s ’ Cti 157% 10 ’%
575
585
A m e r ic a II-|25
130
255
Am ir E x c h . 218
Coal & iron 140
150
. . . . C o lo n ia l H
133
B a tfe iy Pk
300
____ C o lu m b ia Tl. 3 /5
B o w e r y 1! - . 3 /5
•125
—
B r o n x H orol •300
C o m m e rc e
f 190 c U 9 3
105
' J o p p ir ____ 275
B r y a n t P k t 155
150
Corn E x H .. 330
B u tc h & Dr 140
340
175
E a st R iv e r
L’c n t u r y I I -. 170
125
135
. . . . Fi d ell t v 11. . 10.5
p h a s e ........... 300
175
Kifth A v d ! 1250
335
350
C h atham ___
* B id a n d a s g e d prices; n o s a le s w ere m a d e o n c a n
t S a le a t S to c k E x c h a n g e o r a t a u c t io n t h is w e e k .
Banks




i ’t U J S T
Bank'
F ifth ...........
F i r s t _______
14 th S t H - -

C O A lP A N U S S — B R O K E R S ’

Hid

Ask

300
825
155

350
850
1 /5
f240%
160
300

B anks
•Jellerson H .

HU

180
555
L i n c o l n ___ 420
1330%
335
M ark’tcScFul 255 "
G a lla tin —
G a r f i e l d ___ 290
M e c h a n ic s '. 1259-1.,
M erca n tile . U 7234
G erm A m 1 140
G e r m ’11 Exli 150
M erck E x ch 160
550
G erm a n ia 1
' t r - - M e r c h a n ts'. 168
280
G re e n w ic h 1. 205
M etropolis 1 400
H a n o v e r . . 555
M etro p o l’n l 17/%
im p -Sc Trail 1517%
Mt M o r r ls l- 250
Ir v in g V Ex 200
•n o
M utual 11___ 299
day.
: G .x -rig a ts. 4 L e ss tn a n 100 s n a r e s.
F ir st In s ta llm e n t p a id ,
n S o ld a t p r iv a te

Ask
190
435
345
263
200
____
____
172%
420
195

Liangc lor / ’reviews
Year (1908).
Highest
03 F e b
83*8 F e b
691* Mcl
76i2 F e b
80 J a n
3714 F e b
140 F e b
54 Met
100 F e b
2512 F e b
10 F e b
47 Well
Mg F e b
331? Mcl
15i2 F e b
6 Feb
103*2 Jan
138 Jan
135i2 J<tn
»185 J a n
114 F e b
1401* J a n
*8 A p r
4 Apr
47l2 J ’n<
85is F e b
21 F e b
605s J a n
3934 F e b
141*2 F e b
420 Ja il
14U F e b
39U Mcli
32i2 A p r
0 Feb
11*4 F eb
12 M ci.
24*s Mcl
10 McL
113% F e b
48'2 Jail
Jan
20 Mcl
§70 Jan
62 F e b
69 M ch
1221* F e b
034 J a n
17*8 F e b
10 F e b
27i2 F e b
57 A u a
Feb
Feb
Jan
M ai
Feb
S7U F e b
120 J a n
15 F e b
20 M ch
61 F e b
79U Jan
1231* F e b
17i2 Mcl
40 F e b
28l2 F eb
97*4 J a n
90is J a n
241* Jan
90 J a n
60 F e b
128*8 J a n
29% F e b
68 F e b
74 M ch
11078 J a n
65 S e p
90 M ay
79 Mch
108*4 J a n
69 J a n
81is Mch
92 >8 F e b
78 J a n
70 J a n
10i2 F e b
20*4 F e b
42 J ’ne
IUI4 F e b
10 Mch
24i2 F e b
0014 F e b
9is J a n
2512 Mcll
1234 F e b
16i2 Mch
6 l2 O ct
12 F e b
33 F e b
78«4 F e b
110»2 Mch
79*4 A p r
15 J a n
271* J a n
6% Mcii
13 M ch
6 M c!i
4!2 M e:;
12is A p r
6 Feb
13i2 F e b

IOU4 D e c
104 D e c
l i l i 2 D ec
j 1178 D e c
94 D e c
69*4 D e c
1S018 N o v
08 N o v
229 D e c
59*8 D e c
0873 D e c
79 D e c
14*8 N o v
6814 A u g
*3 D e c
17ig N o v
152i2 D e c
164*4 D e c
185i2 D e c
224 D e c
100 D e c
174 D e c
7% D e c
18 D e c
70i2 D e c
997o D e c
59 D e c
79 D e c
76 D e o
1813s! D e c
£75 N o v
40% D e c
8314 D e c
66 N o v
18% N ov
3334 N o v
30 N o v
51*s D e c
41 D e c
148% D e c
761.* N o v
17i2 D e c
40 D e c
84 D e o
l01% D ec
93 D e o
14934 A o v
20 D e c
49i2 D e c
32i2 D e c
67 D e c
7612 D e c
423S D eo
72ig D e c
26 D e c
68 D e c
66*g D e c
125*4 D e c
154*4 D e c
44i2 D e c
66*2 D e c
90 D e c
135 N o v
45142 DeO
43'2
75l2
67%
122

D ec
D ec
D ec
N ov

12b D e o
6712 D e c
105 N o v
85 D e c
161 N o v
47% D e c
86I4 N o v
88 D e c
15734 N o v
93W J a n
90 M ay
97 J a n
132I4 D e c
8Sl2 D e c
1083., N o v
14314 D e c
92 D e c
99 D e c
26U D e c
62% D e c
69 D e c
4214 D e c
24 D e c
65% D e c
122t2 D e c
2714 D e c
6312 D e c
3714 D e c
47 A u g
15% D e c
60 D e o
73i2 D e c
96*8 D e o
1847g N o v
98 N o v
40 D e c
£9l2 D e c
20*8 D e o
62*4 D e c
24 D e c
13 D e c
26>4 D e c
15*' N o v
3 8 I4 D e c

Q U O T A T IO N S
Banks
N a s s a u 11___
N ew N e t h ’d
N ew Y orkC o
N ’h t & D av1
1 9 th W a r d .
N o r th e r n . .
P a c ific H___
P a r k _______
P e o p le ’s 11-.
P h e n i x ____
P la z a t ____

Bid
Ask
Bank*
216
Prod E x c h 1
d e s e r v e .. . .
200
210
760
Seaboard . .
327% 3371*
Sherm an
220
250
120
S t a te II____
115
1 2 th W a r d .
105
240
23d W a r d V
230
1455%
U n io n E x e .
280
295
Vast! H ’t» 1.
180
185
-V est S id e 1'
025
Y o rk v lU e 1i
01J

Hid

Ask

172% 1S2%
135
142%
355
376
135
300
....
100
187%
•270
500
600

____
180
....
195
____
....

310
i E x - d iv id e n d a n d right® , a N e w s t o c k .
§1 S t a t e o a u .es.
s a le &t t h is p r ice .

M m

826

York StOCK Hecora—Oonciuded Page ^
*■

su IJt'KtS— HltjMtS >7' A A 7J LO » 1ST SA L K PRICKS
Sa'urilaii
P Sept 25

M irujr
Sept 27

Wednesday
Sept. 29

Tuesday
Sprit, 28

Thursday
Sept 30

V i/'s 0

Friday
Oct 1

Week
Shares

S IO C Kb
N O W Y O R K ST O C K
EXCHANGE

[V O L

Kantsc svtje jr.n i I'JU'J
U:. ta ils o> 10d-s/irira lots

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107% 108
167% 169
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104 *100 105
101
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121% 122
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129% 129*8 130% 1291J 130*8 1295?
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73
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7934 80%
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88
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138 140
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cl tx m is tu iu m c o u o
d a m s E x p r e s s -----------Ills C h a lm e r s _________
D o p r e f____________
A m a lg a m a te d C o p p e r —
Arner A g r ic u ltu r a l C h e m .
D o p r e t ________________
m cr lc a n I ie e t S u g a r -----D o p r e f ________________
m e r lc a n C a n -----------------D o p r e f ________________
A m erica n Car & F o u n d r y
D o p r e f . - ...........................

490 .Ian 20 1226 A u g 20
167g A u g 3
12% F e b 24
57-lg A u g 3
38 F e b 24
89% A u g 12
06 F e b 2ti
50 A u g K
33% J a n o
95% J a n i s 103 A u g 3
49% A u g 2
2014 Jr.n 13
0/7g S e p 21
12 .1 * n i
H ig i a >21
712 F eb 23
86 .1 lie 4
71% F e b 23
70/g A u g
4 4% F e b 21
107% F e b 23 1243.1 A u g .
77% A u g 9
421^ J a n 6
08 J a n 7 1O6U M a y li
n r e f _______________
lean E x p r e s s ---------- 1205 F e b 6 '.32'2 A u g lu
10 S e p 3
0% F e b 25
617g A u g 8
34 F e b 21
D o p r e f ________________
42l4 A pr 1 '
1878 .ia n i
..m e r lc a n I c e S e c u r it i e s ..
20 J ’n e l i
"2
F
e
b
2fA m erica n L i n s e e d _______
4734 J ’n el'i'
20 J a n 12
D o p r e f . . -------------------6OI4 A u g 4
40 F e b 23
n e r lc a n L o c o m o tiv e ___
I
22
Aug
10914
F
e
b
24
D o n r e f________________
I ll*
IK’ 1
5 i2 J ly 10
n e r lc a n M alt C c r p -----59 S e p 20
-.2 J a n 7
D o p r e f___
_________
023g A u g 2 /
SO J a n 4
ner S m e lte r s ' r r pref B
1U4%
A
u
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7714 F eb 24
ner S m e lt in g & R e lln ln g
D o p r e f ________________ 101 J a n 2 UO34 A u g 6
280
A
u
g 6
225
W
eb
0
n e r lc a n Snu lT __________
95
M -h 1 106 M ay 2 2
D o p r e f ________________
C314 A u g 7
347s F eb 24
121 J ’n e 17 - 36% S e p 2 1
31
■•It' ■
D o p r e f ________________ i2 0 J ’n e 16
45% S e p 29
A m erica n T e lc p h ft T c lc g 125 F e b 1
104
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F
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b
6
A m erica n T o b a c (n e w l.p f
20 F e b 1 40% A u g 2 7
A m erica n W o o le n -----------10/84 J ’lie 14
y:t?4 Jr.n
D o p r e f________________
A n a co n ria C o p p er P a r i 25 : 3734 F e b 26 $52 A lay 5
105 A p r 2 1.4 J ’n e 26
s s o c M crch 1s t p r e f ____
D o 2d p r e f ........... ............... 101% Fcl) 17 104l2 F e b 19
$6D o ’n eo u
$27s J a n 20
/B a t o p lla s M in in g P a r i 20
30% S e p 21
18% M ch u
e th le h e m S t e e l -----------60D S e p 3
47
F
e
b
24
D o p r e t -------------------118 J a n 28 15U2 S e p 1
2u7g S e p 21
13 J a n 13
34.s
ah
237s J a n 2
17l2 S e p 27
2512 Mch 2
Central L e a t h e r -----------9034 A p r 5 111 S e p D o p r e f _____________
4S3g ^ u g 20 F e b 23
81 S e p ’- 9
213g F e b 23
1
800 J a n 21
21c A pr 24
114>2 F e b 4 10514 UHU 4
16I2 F e b 2 ■ 20i2 J ’n e 2
93% J ’n e 1
73% F e b 24
D o p r e f________________
o l M ay2o
45 J n s 5
rex C a r n e t______________
Intlllofc' C noiirlfloe P d rn
41*2 J a n 25
3212 F e b 23
05i2 ,M a y li
65 M ch 2
U4 A u g 11
80 F e b '>4
J45 M ch20 $61 J ’ly 12
95 A u g 3
D o p r e t ________________ 190 J a n
1601s F e b 23 17234 A u g 12
6,600 le n e r a 1 F .le c trlc _________
.mu 4
91 M ch F.
200 ir a n b y C o n s M S & P ___
9712 S e p 28
(.2 J a n 3u
2,900 I n t H a r v e s te r s tk tr c tfs
IO'j U J a n lo 124 S e p 30
2,370 I
D o pret s tk tr c t f s —
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63a J ’ly y
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2
1834 J ’l y y
2,900
D o p r e f ____
IUI4 A u g 24
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1.900 itc r n a t io n a l I
6034 A u g 3
4734 Mch 18
2 ,500
D o p r e f____
6012 S e p 29
33D F e b 26
7,075 i t e r n a t S te a n
91 S e p 2a
8 2 ijJ a n 3o
2,000
D o p r e f ____
94 S e p -9
70 J a n 21
8,250
/ V*4 S e p 23
69>2Jan y
000
D o p r e t________________
you Jan
. 120 S e p 27
3 ,000
a tio n a l B i s c u it _______
.3 0 S e p 21
— —
D o p r e f ____________ 118% J a il u
23 S e p 20
12jg F e b 24
1,740
»t E n a m e l’g ft S t a m p ’g
12 J a n
> 99% S e p
—
D o p r e f________________
94 A u g 13
71H F e b 2a
4,300 N a tio n a l L e a d _________
1023, A p r 21 11334 A u g 12
780
D o p r e t_____________
97 A u g lu
80 F e b 23
900 N e w Y o rk A ir B r a k e . .
8712 .1'lie 14
72 J a n 13
1 ,925
a77g O c t 1
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4,075 1 J a c lllc M a i l . . . ...................
65 O c t 1
5,750 « a c lflc T e ie p & T e l e g . .
48 O c t 1
20 A u g 16
5,400 P e o p l e s (i L & C ( C h ic ). lU l% J a n 13
2 4 l2 A u g 21
10 A p r 21
4 ,053 P itts b u r g h Coal C o -------63 A u g 2?
40 F eb 25
850
D o p r e f ________________
56 A u g .
50% F e b 23
5,920 P ressed S te e l C a r -----------06 F e b 20 1I I 84 A u g 11
440
D o p r e f .............................
169 J a n 3u 2U0 A u g 6
410 P u llm a n C o m p a n y ._____
o3s J ’ly i.
IS3 J a n
1,200
10 M ay 3
3 iMch’Jy
500
D o p r e f ........................... ..
64i* a u r 4
321* Atch 8
3 ,260
a ilw a y S te e l S p r in g —
977s F eb 21 109 A u g 11
200
D o p r e f ...................
491- S e p 29
10% F e b 23
89,850 R e p u b lic Iro n ft S t e e l .
67>s F e b 2 1 11164 J iy 28
8,050
D o p r e t------------------ . . .
9314 O c t .
68 F e b 23
15,760 C lo s s -S h c f f le ld S te e l ft Ir
e*
D o p r e r ........................... ll)73s F e b 2u 120 S e p 1
1,400 /T e n n c s s e c C o p p e r P a r S25 $3434 F e b 26 S49 J a .i 4
037g J ’ly It
8 UI2 F e b 23
100 T exas P a c llle L a n d T r u st
153g J ’n e lh
UU F e b 2
300 I | uio n B a g ft P a p e r ------81% J ’n e2 y
66
..a
n
D o p rer.........................
215 '
111% A u g
1,025 u n it e d D r y G o o d s n . c tf s z l0 9 S e p
351* o n e
243s F e b 24
7U0 U S C a st 1 P ip e & h o u n d r
87*2 A Ug 18
70 Mch
D o p r e f -----------------------1,200
82 F e b lu $99 A p r 30
. . . . . . U n ite d S t a t e s E x p r e s s ..
87 S e p 17
61 F e b 23
4,100 U S R e a lty ft I m p r o v e m ’t
1712 J ’lie 17
10 M ch 12
. . . . . . U S R e d u c tio n & R e lln ’g
3'Jl2 AUg 12
24 F e b 24
60
D o p r e t -----------------------57% A u g 1U
27 F e b 24
8,400 U n ite d S t a t e s R u b b e r . . .
08
. . Jar. 29 123% AUg 24
3,000
D o 1 st p r e f ----------------sy% A u g -.3
671#> F e ll 25
700
D o 2d p r e f ........... ..........
92m O ct 1
41% F e b 23
1065110 U n ite d S t a t e s S t e e l -----1303.) S e p 2
85,950
D o p r e f . . . ------------------ 107 F e b 2
S5 ,9. AUg 12
1,900 (iU ta li C o p p e r — P a r $10 $39>s F e b 2
50t.( J li. 14
4i)7g F eb 2s
5,100 V lrg ln la C a r o lln a C k e m ..
100
D o p r e t ------------------------ 114 J a n ly 1231s AUg 23
767S S e p 17
57 F e b 2a
800 V ir g in ia Iron C oal & C ok e
•43u .n a y 28
\ \ J e lls F a r g o ft C o ........... 300 J a n
......
813s S e p 14
04 F e b 24
6,910 »V e s te r n U n io n T e l e g . .
96 A u g
74 F e b 21
25,t>d2 W e s tln g h ’seE I& M fg a ssen
146 S o p 3u
D o 1 st n r e f ......................... 111) '!p h
1,500

*230
*230
*230
____ *230
5,100
15% 155? +15
151*
1512 *15
153s 15%
54«% 535s 54
54
53% 543?
9,275
53*2 54%
81**4 83%
82
82% 84% 142,650
83&S 82% 831.,
900
40
461*
40*2 47
*45% 46*34 *45% 40%
............
>100
____ *100 110
*99 IOH4 *99
453.1 46*V
40
4 G-’s
46
40%
40% 48% 23,550
201)
98
*95
98
*95
97%
971? 97%
971 * *95
121*
12% 12% 12% 12% 1238 13
12's 133? 16,700
82
82%
82
83% 85% 10,050
82% 83*8
81% 82%
09
097s
70
8,450
69
60'•• 091* 70
69% 71)
200
119% 1187s 119 *118 11934 *118 119%
1191? M IS
74% 76
75% 757? 17,350
753., 70's
73<s
7378 7 534
100
*l o t
105 >101 101 *103
107
105
103 *101
1=228 240 *230 245 *228 240 *225 240
240
600
9%
9%
* 8 's
8% 9
9
8*8
8 ‘S *8 -s
48% 49
2,000
48 % 49%
4S% 48%
49
48% 49%
28
28% *26% 2S34 2,575
30%
28
271?
2734 293.|
16% 10's
2,000
163.1 17%
17% 173S 16% 17
16*4
42% 42%
42% 42%.
700
43%
43% 433?
421* *42
0 0 % 01
60% 6138
4,950
60% 01
501*
59% 001*
700
110 110% 110% 110% *115% 116% *115% 110%
117
93,
*9
9% *9
100
9%
*9
9%
*9
503., 57
1,850
50's 5b<s
50->s 6634
50'*
563.1 58
91% 91%
020
91% 91%
91% 01%
911* *91% 91%
985S 99%
98% 101% 54,150
99% 997?
1001* a-983.i 99%
112-% 113
1,500
1121* 11234 112% 1123.| 113% 113 113
*280 300 *280 300
*250
250
100
1011; Muin* 104% * 1001* 10,.% *100% 104% 100% 1001"
01% Oil"
4,002
OH* 0171
OH*
01% 021?
01
6OI4
13334 134's 134% 134's
8,100
136*8 1341.1 1353.) 133% 135
100
120 *120
129
128% 1281- U 27 129 *127
130
35,498
142.% 143
1441* 14418 144”s 1443s 145% rl42% 143
1003, ll) l
2,300
101
101
100's 101
101 101
101
1,100
38
38%
38% 38%
58% 3S”s
383.1
3S12 381*
2.341
1041* 1041* 104% 104 104% 10334 104% 104 104
7,825
493S 493S *481.1 49%
4831 49%
49% 49%
4934
100
*109
____ 112 112
*109
*109
* 1 0 7 % ____ *107% _____ ________
*1071*
*107%
400
4I4
4^8
4%
*43i
434
4%
*4%
43|
5
3534 35-% 3 ,900
35
36
35
363,1
35% 36
900
08
0S34
08
OS
*07
08%
08
08
OS
525
149 jllO-lj 1403,4 147% 147% *146 149 *145 149
8,100
20%
197?
1934
20
2
0
%
2
0
%
19
107s
197s
100
32
*31
*30% 32
31
31
32
*30% 32
40% 461? 54,31)0
45*8 4 63s
40
46%
161.S 4 6^4
471"
2 .(0 0
110 11034 111) 1 10
1101* 110% 111)7? 110's i n
4534 40%
40
4558 403? 15,000
47
45% 40%
40*.|
7 ,700
78.% 81
793S 79%
70% 80%
77% 78%
77%
___
300
2So 28c
2Sc. 28c.
147% 148% 140%> 14734 1455s 146% 20,900
1471.1 14834 1471.1 148
22% 22-3.|
223, 22*3|
22%> 225?
2,650
223.1 2.‘j
2 2 ! 0 227s
620
86
80
80
80% 86% 80% .80-% 286
02
*58
02
*58
02
02
*58
02
*58
*53
4,250
3734 373.1
30-% 37%
37% 37% 3-37% 3,8
37 !* 37*8
89%
86% *S0
89% *80
301" *80
SOI- *77
*77
91
*87
*8734 91
*8712 01
*8734 91
01
*87
15'2
533.|
84*4
47

H awn sot t 're n ew
Year ('908)
otvesl

muiict1

*230
1518
521*
8134
*451*
*99
46
*95
121,i
82
60
*113
737g
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9
40
271*
16’*
421*
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117
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101
38*8
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:»5
68
*140
10>4
*31
40*1
10'd3t
4514
77

L X X X IX .

\

1

B

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Highest

164 J a n $200 A u g
5 Mel,
163s I)co
H M r1
623.1 D eo
45% F e b
88% Nov35 N o v
13 Jan
16 N o v
7812 J nil
2 47* A p r
0 i2 F e b
813.1 D e c
65 .) an
1014 N o v
4 Feb
44 J a n
76'% N o v
50)4 D eo
2612 F eb
109 D e o
M U Mel,
41-7.| N o v
2434 Fcl)
97 N o v
580 J a n
170 F e b $224 M a y
8% D e c
23.i F e b
373.1 D e c
1212 Men
SI'S AUg
121* F eb
j/% D e o
6 A id.
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17 Mr59-\s A u g
313s F e b
113 Deo
85D J a n
h% S e p
: A
6 Is S e p
21 J a n
84% A u g
70 Jan
107 A u g
55«2 Fcl)
110 *3 A tlg
87% F e b
ISO A u g VOI) Apt9712 S e p
80 Me I
41 N o v
28 Sop
13/3.| A u g
O8I4 J a n
131 N o v
105 F e b
1323a N o v
101 J a n
971* J ’ly
7 2 D .1an
823s D ee
1612 F eb
97 N o v
73I4 Fcl)
639> N o v
8271? F e b
i 2 i* j a n
12 J a n
Apr
)85 F e b
6 Jan
$10 F eb
151? F eb
7631 J a n
15% F eb
l l ’.i Met
20o Atcli
9c J a n
10% F eb
66 J a n
47l2 D ot
2.114 F eb
7 2 i2 N o v
6U F e b
66 J ’ly
731* F eb
i l l Jan
7834 Jun
j nt
J ’niO ct
Feb
A pi
O ct
Jan
Jan
Feb
697s F eb
68 J a n
102 J a n
71* F e b
70 F e b
30 F e b
871* Jan
60 J a n
42is Mch
24 A pr

4..
27%
f7
1621.1
1/

Aleh
N ov
N ov
N ov
N ov
Jan
D ee
D ee
D oe
D ec
41o A p r
107 D e o
2hl2 A u g
80 A u g
4SI4 O ct
*834 D e e
94 A u g
89 N o v
0S1* J 'n o
100 ' J ’ly
10234 D e o
1091* J ’ly
67% N o v
110*4 N o v
9 M ay
267s D e e
131.1 N o v
66 J a n
39% D eo
8414 D e o
78 N o v
7J34 N ov
97 D e c
12*11*2 D e c
16*4 D eo
1:8214 D e c
92 a u k
100I4 N o v
98 N o v
78 N o v
40U D e e

80 J a n
M* Mel
3H12 Fcl)
)7ij F e b
60 J an
147 J a n
1* Apr
11* J a n
23*4 Feb
76 Jan
1434 F e b
63 J ’ne
30 J a n
87*2 J a n
$2512 F e b
46 F e b
4 Feb
44?s J a n

Idol's Deo”
14% D eo
Cl) D e o
45 D eo
102*4 D e o
174 N o v
1»4 D e o
312 D e o
4'JU D e o
103 D e c
29 N o v
69I2 N o v
81% N o v
110*4 D e c
$62'4 N o v
8 4 l2 D e o
9% N ov
60-34 N o v

307s" Deo”
■'171. " e b
7878 A u g
re% .'a n
99 J an
10 1 ob
64 N o v
31)'4
b
1514 A u g
4 i b
31 A u g
10 1 )
173, F e b
37*2 A u g
76 F e b ' 108 D e o
751* N o v
42 F e b
68,34 N o v
2534 „an
1 i li s N o v
671* J a n
$52*4 N o v
20 j an
4534 D e c
16 F e b
115 N o v
x87 J a n
68 N o v
43 J a n
326 N o v
!260 F e b
7 1*4 N o v
41 F e b
94 N o v
88 A! Cl
126 N o v

-A.NKs A i\i/ TitUS 1. CO .IT AWl US— SAN Kd US’ %>UO l'A L’l O.N >.
Banks

ti la

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tta n * s

bin

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106
90
N o rth S id e 1 150
B o r o u g h 1,.
426
Feopl d’e ------ 155
B r o a d w a y 1 375
P r o sp ’c tF U l 150
B ro o k ly n 1,. __ _ 140
____
__
280
T erm inal 1i
F ir st --------«3u
llU
J n io n ll____ 10J
H lK sld e l,—
l‘2 j
H om e Bk 1 . a .
125
Trust C o’s
U o m e s te a c il 100
4 10
430
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U a n u ia c ’rs
250
ustor . ____ 325
M e e h a n lc s ’1 230
B a n k e rs’ T i 900
l4o
M o n ta u k . .
•70
U’w a y T r . . 14S
N a s s a u ____ 240
305
N a t P i t y ___ ■95
w B id a n a a s k e a m oos: u j sa .o s o a t.n s May.
1 S a le a t S t o c k E x c h a n g e o r a t a u c t io n th is




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175
335
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105
370
725
525
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120
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1350
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445
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476
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. . . . C itiz e n s’
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. . . . F ra n k lin

410
420
138
146
226
. . 200
220
. . 210
275
265
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la m llt o n .
108
455
l o n i e ____
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5t:U
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M erca n tile
315
250
1. I si L ft Ti 310
v ic tr o p o l’tn
170
150
410
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340
290
155
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.
.
.
...
M u t u a l___
130
J u c e n s C o . . T 20
145
156
100
80
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n er s h a r e .
$ L e s3 t n a n 109 s n a r e s . ; E x - n g .it s . o N cv; s t o c k , c l!
w eek,
s' T r u s t 0 0 . c e r t ific a te s . U B a n k s m a r k e d w it h a p a r a g r a p h (H> a r e S t a t e b a n k s.
....
__
100
130
105

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C e n tr a l T r .
C o t u m b la . .
O o m m eiu la l
Com w e a lth
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F arm L o & ’l
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F ilt h AV Tr
F u l t o n -------

175
U)0 )
290
135

182%
102 .
300
145
155
30 '
310
f 47-1% f 175
1050
20.1 207
t395
425
270
—

__

360
250
170
390
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660
525
127
135

1

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-.

Now York Stock Exchange—Bond Record, Friday, Weekly and Yearly
Ja>t. I

t'i* Qvo’ia n '/e •nothoil ot q u o tin '! b onds ion t c h a w e d , a n l orlcen a re now a V — " n n l in te r e s t” — i t i ’Di to r in to ne a n d d e fa u lte d bonds.

I JiK M l-V. Y. ST O C K ICXOH A S (J K
w r k k ecnixnu o c t 1
U
U
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U
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L.
•MIVtfrilMIlMIl
3 ‘2 s c o n s u l r e g i s t e r e d .i t 1 0 . S'
3 <2A COUHOl c o u p o u ....< tl 9 3 i
3 :5 s r e g i s t e r e d ................t c l b l '
3 Us c o u p o n ....................... fcl91*’
3 3 s c o n s m a ll b o n d s ..b l9 1 >
8 4s r e g is te r e d ..........1 9 2 .
8 4 s c o u p o n ......................... 192.
8 P a n C a n 10-30 y r 2 s .f c l0 3 '

K o r r l m I J n v i- r iiiiiH il
A r g e n t i n e — I n t e r n a l 6 s o f lOtifi
I m p e r ia l J a p a n e s e u o v w r u m
s t e r l i n g lo an 4 k a .............102;')
2<t s e n e s 4 k » ....................11*25
S t e r l i n g lo a n 4 s ................1031
R epu h ol ( 'nha 5 s o x le ii d e b t ..
S a n P a u lo (B r a z ili 5 s tr r e c ta ’ 1
U a in .M exico s i g ob oi 189!
G old 4 s o f 1 9 0 4 ....................1954

U

Hut
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M-F
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i4»s
1U()»4 101 *9
100*4 m i s
101 *9 10 2
1 0 1 *9 102
.......................
lid * -! 117*-.
1 1 7 * 9 ..........
100*9 l o t *9

M-S t 9 6 *4 Hale
F A ( 111’* S a le
93*4
j j t 93
87
j t 87
M- b i 103*4
j *J ♦ .......... 95 *9
i)-.i t 97*4 98*-.
9 3 >4 hal»
JO
U hese a r e y r

.1

■ S tate a n d C i ty S e c u r i t i e s
D ls t ot C o lu m b ia 3 ’6 6 s . . . . l 9 2 l
L o u is ia n s n e w c o n so l 4 s . . 191-1 J -J
N e w V o rk C i ty —
4 s w h e n a n d a s i s s u e d . 1955 VI. N
4 (Ji) C o r u o r a te a t o c s ___ 1958 .11-N
N e w 4 Silt ................................1967 -vi- 0*
N e w 4 * 7 8 ............................... l i 'l 'i
4*ii% C o rp orate s t o c k . .1 9 5 7 i91- N
4 *<,% a s s '-s sm t bon i s . . . . M 17 »v»-N
4°o C orpora to m o c k . . . . 190 7 iVl-N
N Y s t a t e — H ig h w a y 4 s . . l 9 5 t
j o C a r o lin a 4 k s 40-411..........193. 0 - J
I 'e n ii n e w s e t t l e m e n t 3 s . . 191 ■ J *J
V ir g in ia fu n d d e b t 2 3 s . . . 1 9 9 1 J • J
(is detorrod B r o w n B ro s o tta .
Itn ilio n d
l a b a m a C e n t . s e e S o lty
la b a .U idi s e a A t C o a s t L in t
A lb a n y »fo S u s a A e « lio i< b H u i
A lle g h e n y V a lle y . s e e P e n n i ti
A lle g As W e a l .S e e B u n K As i
A n n A r b o r 1 s t g 4 s .......... A 199.
A tch T ib S F e —G en g 4 s . 199.
R e g i s t e r e d ............................. 199.,
A d j u s tm e n t g 4 s ............./il9 U e
R e g i s t e r e d ..................... /tl9 9 ..
SLtinntM:.......................... /i lb'lf.
S u b r e c t a ( l u l l p a id ) c o n v 4s
C o u v g 4 a ................................riio u
1 0 -year c o n v x 5 a ..........l o t .
o e o o i i l u r e s 4 s S e r ie s 11. l o l l ,

tr ic e
fr id a y
Oct 1

107
95

W eeite
Hange or
L art bale

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N . Y. S T O C K K X C H A N O K
w k k k e n d in o o c t 1

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.Since
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Hig/i No Low J /ig h

Low

C e n t o t o a l i l t —( c o n i
3d p r e f in c o m e g 6 s sta m p o \
C U att l u v p u r Dion g 4 s . 1951
51 uc ib N o r 111 V 1 s t g 0 8 .1941-Mill G a ib A tl i m - o s ___ 1945
M obile R iv 1 s t g o s .........194t
;en R R -b B o r U a c o l g 5 s 1937
.'o n to ! N J g e u ’l g o ld 5 s . 1985
R e g i s t e r e d .....................A1985
A m D o ck ib Im p g u 6 s . . 1921

101*9 J ’ly ’09 . . . . 10 l *9 l l >2 >
101 A u g ’l) . . . l o l
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101 *u S e p 09
101
103*»
i 100*4 1 0 2 101*9 ld l* v
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..
110*4 Hep ’OS
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ll'i *4 S o p ’OP . . . . 1 17*4 121
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93 *9

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96*4 291

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C r a ig V a lle y 1 st g 5 s ___ 1940
P o t t s C r e e k B r 1 s t 4 s . .1 9 4 0
R op A D iv 1 s t co n g 4 s . . 1981*
2d c o n s o l g 4 s .................. 198'.'

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.......... 106 *9 D e o ’04

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t o t S a le I 0 0 7u 101
110*9 l u * » 110*8 llo ® ,
ti*47* Hep ’09
110*9 111
1 1 0 *^ 1 1 0 1 0 4 * 4 .......... 104*4 S e p ’ot
lo t
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,0 1
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.......... 102 *4 J a u ’09
Uo 34 .......... 95*4 F ob OP
90
94
46
47
45
40

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S h o r t l a n e 1 s t 4 s g .......... I 9 5 t
s bo P r e s A P li 1 s t g 6 s . 194
Atl K n o x A N see R ib N
A tla n tic C o a st 1 s t n 4 s ./ t lP 0
A la .Mid 1 s t g u gold 6 s . . 1928
B r u n s ib W 1 s t g u g 4 s . . 193
C h a rle s ib S a v l s t g 7 a .. 193
L A N c o ll g 4 s ................ o l 9 6

■l J .......... 85
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94
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94*9
9 5 \ 61 94*4
10.1 .......... 109 S e p '09
M9
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13 2* 4 ..........
21
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....................... 127 J ’nu’Oi’ . . . . 127
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96*4
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H miwral i< K
Herie.s B.eLobK T . j
2 5 -y r ile b o n 4 s (w l) .........1934 j - j
C lu e lb L o u B iv g 6 s ___ 1921 j - j

93 127
114
97 *4

C h ic lb P a o D iv d s .............19 1 b
C in e ib P W 1 s t g 6 s .........1921
D a k ib G t S o g 6 s .............. 19 1 6
F a r ib S o u a s s u g d s .........1924

92*8
92
99*4
98

95
<93
M i* 10o*4

L a c r o s s e <b 1> 1 s t 6 s ___ 1 9 1 9
M in e r a l P o in t D iv 5 s ___ l t f l u
S o M u m D iv 1 s t Os.......... 1 9 1 o
W is Aj M in n D iv g 6s ___ 1921
MU <b N o 1 s t M B t i e . . ..1 9 1 0
1 s t c o n s o l d s .................... 1 9 1 3
Jluc ib N o r tli w c o n s 7 s ___ 1916
B x t e n s io u 4 s ...........1 8 8 6 -1 0 2 6
R e g is te r e d .............1 8 8 6 -1 9 2 0
G e n e r a l g o ld 3 k s ...............1987
R e g i s t e r e d .................... pl'J87

9 8 -4 On k
97
99
i J‘ 93*4 96*4
4 110 *4 113

A-O
J -J
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J J
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A-0

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In t e r n a l T m o coll tr 48.. 1949 J - J
M an ila Blec 1st <b (‘oil os. 1963 A. 8
* N o p r ic e F r id a y ; l a t e s t t h i s w e e k .

105 S o p ’09
.......... 1 0 6
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.......... BY
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81
82
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86
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S in k in g lu n d 5 a . ..1 8 7 9 - 1 9 2 9 A-O
M-N
R e g is t e r e d ........................ 19 0 9 M-N
D e b e n t u r e 6 s .......................1921 A-U
S in k in g tu n d d e b 6 s .........11*33
R e g is te r e d .........................193..
N o r t h I llin o is 1 s t 6 s . ..1 9 1 c
M ll B S lb W e st 1 s t g 6 s 1921
B x l i b Im p s f u n d g o s 192 9

.rt-N
■vl- 8
itfl- 8
F-A

I n c o m e s ...................
l u l l M-N
C lu e R o c k I s l ib P a o 6 s . ..1 9 1 7 J -J
G e n e r a l g o ld 4 s .................. 1 9 8 6 j . J
J -J
R e f u n d in g g 4 s ................ 1934
.Vl-N
J 4 8 ...................................... 1 9 1 2 M-N
M . s ...................................... 1916 .Vl-N
N 4 a ...................................... 1 9 M M-N
0 4 s ..................................... .1 9 1 7 ..i-N
P 4 s .................................... .1 9 1 8 .i<i-8
c h i c R I lb PaC R R 4 3 . .2 0 0 2 M-N
R e g i s t e r e d ........................2 0 0 2 i l N
C oll t r u s t g o ld 5 s ...........1913 M-S
B u r CeU R & N o r t h e r n —
Cou 1 s t ib c o l tr g 5 s . . .1 9 3 4 A-O
O H lF fb a N W 1 s t KU5 8 .1 8 2 1 A C
M ib S t B 1 s t g u g 7 s . . 1927 J -D
—t o m ii iu e o <>n s e n

89

I 28 k
111
..........
..........
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l o t ",

6

80*4

90 k
103 k
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1 0 6 k .......... i l l

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

114

116

117

Ck h s .

f t li- e e l R a i l w a y
M et S t R y g e n c o l t r g 6 8 .1 9 9 7
R e f g 4 s .................................. 2 0 0 2
B w a y ib 7 th A v 1 s t 0 g o s 1 9 4 3
C ol ib Otll AV l a l g U g 0 8 .1 9 9 3
R ex A V ib P F 1 s t g u g o s 19 9 3
T h ir d A v e R R co n g u 4 s 2 0 0 0
C e u t T r Co c e n t s s tr a p d ...
T h ir d A v e R y 1 s t g o s . .1 9 3 5
N o n R y lb B t g e n 4k-s . . 193n
S t J o s R y B t II & P 1 s t p 6 s *3.
' i P a u U h t y C ab c o n g 0 8 .1 9 3 5
T r i-C ity R y & J ,t 1 st s 1 5 8 .1 9 2 3
0 u ile r x r o u u d o t B o n 6 s ...l 9 2 i<
4 *98 . . . . . . • . . . . . . . . . . . . . . . .1 9 3 .
I n c o m e 6 s ..............................1948
b u io u n.1 (C h ic) 1 s t g o s . .1 9 4 5
U n ite d R y s S t B 1 s t g 4 8 .1 9 3 4
U n ite d R R s S a n F r a t 4 s . 1 9 2 7
( / D n e . j ’n *

89

102 B e p ’il"
101k
iul
i o 3 k ul>* l o o k
2 114 k
114 k
1 14*4
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ii3
103 k
103*4 lv 103 k

lo t
lo l
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106 *4 .......... 105*4 A p r ’09
99*4
9 9 >8
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M-S

f A
A b
j -j

n i s b b b l.A 3 n iib .s




H outb w e s t e r n D iv 4 s ___ 1921
J o in t b o n d s -Vc< G re a t N o r th
D e b e n tu r e 5 s ...................... 1913
G e n o r a l 4 s ............................ 19 5 8
l ia n eu 81 j o s c o n so l 6 s . . 1911
iuoifc B 111 r e f ib im p g 4 s 19 5 5
1 s t c o n s o l g d s .................... 1934
G e u e r a l c o n s o l 1 s t 6 s ___1935
R e g is t e r e d .........................1935
CI11C ib lU U C R y 1 s t O S.193b
'lu c a g o ib B r ie -S'esE ne
,’ln c In <b lio u i s v rot 6 s . ..1 9 4 5

89*4

102
lU'i Sj 'iH.lt
114*8 116
1 (3
103 Vi 104
IUZ s
89
112
li........... 69*1
U9*b 99*.
97*4
107 k
91
96 k
7 8 S a it
76 * , s a le

N e b r a s k a E x te n s io n 4 s . 1927

.l-K
AU
A-U
S il S p UCa <b G g u g 4 s . . 191o- J - J
A t la n tio ib Lianv N«e S o u th Ry
A u stin Aj .N W bee Suit P aciti
49
9 2 34 93
93
93
1 >alt *b O h io p rior 1g 3 k s , 1 92 J • J
0 3 M nv’ot . . .
•> R o g is to r e d ...................a l 9 2
<J-J
G old 4 8 ................................ A 194 A-U l o o °0 s a l e 100*4 100*8 3 l
1
9 9 -u s a le
09*4
99 S
R o g i s t o r e d ....................../11941- 14-J
lo a
.......... i O c t 'Uj
P itta J o n e 1 s t gold d s . . . 192-.
89
90
t-i) J ’l y ’0 ;
P J Uli lb .11 B iv 181 g 3 k s l 9 2 . .il-N
93
9 3 7t 9 3
93 -1 14
f L l f i * W V» S y s r e f 4 s 1941 M-N
X90*8 91
90 7a
91
d o u tliw c i v l e t g 3 * a s .. .l 9 2 . J J
..................... . 91 A p r ’01 . . . .
R o g i s ie r e d ..................... / i l 9 2 - T - l
Ueu o m o u 1 s t o g 4 S i s ..i9 3 i .VI•& 1 0 2 - 9 .......... 103 J ’ueO'J
Cl B or lb W 0OI1 1st g o s 193. A-O , ..........113*9 l i3 A u g ou . . . .
M otion m v 1 s t g u g 6 s . . l 9 1 v
113 114
U 3 " 113
O hio R iv e r H R 1 st g 6 s .l 9 3 i
G o u o ra i g o ld 6 s .............. 1 9 3 . A-U .......... l l o S , 110*9 J ’n e o i
1 l b * 4 ..........
P i ll s C le v A. T ot l a l g (is 1 9 2 ’.
9 0*4 ......... 9 b *9 S e p ’Op
P itt s <b W e st 1 s t g 4 s . . . 191 . . i - j
100 N o v ’04
s t a t I s l R y 1 s t g u g 4 ‘us 194; J -B
B e e c h C rook e>ee .N U & ii
d o llo v ib Car bee I llin o is Com
B itlyu .b M on fa u lt bee I s in g i
B r u n s ib W o sl bee A t l C o a st 1
B u ila io
l ^ i B r io bee B rie
liu lln lo R ib P g e n g 6 s . . .1 9 3 . vt-S .......... 11 5*4 116*4 A u g ’09
iVl-h 1 0 9 * 4 ........ 1 1 0 ‘s J ’l y ’09
C o n so l 4 k s ............ ............. 195
lo o
A ll lb W e st i a l g 4 s K U ..199.
11 e
.
103 ’ J ly ’08
Cl ib .Mali 1 s t g u g 6 8 ....1 9 4 ; J J
117*4 l l s >8 117*4 S o p ’Ou
F-A
H o e liib P itta 1 s t g (ia ...1 9 2 1
C o n so l 1 s t g d s . . . . . . . . 1922 J 0 .......... 1 2 0 ‘t I2 d * i A u g ’OH
89*4 51 ay 09
Bull ib B u su 1 s t ret g 4S.U1951 J *J ........... SO
B u r a; R <b N .see C R 1 ib P
1 0 5 S a le 105
*1
I <au S o Is* e x t O s ................1913 J -J
105
102 ........ 102*4 1 0 2 S It.
' -2d 5 s .............................
1911.
R e g is te r e d ..........................191. vl-S 1 0 0 102*4 100*4 M a j’O?
C a r b ib r th a w u bee i ll C en t
C arolin a C e n t A e « s e a b A ir R
C a r tila g e ib A d bee A V Cifc n
Cod K l a l’ As 51 bee B C R &
C eu B r a n c u R y bee M o P ao
1! 0 ' 9 ........ llO V iF o b ’Ot1
C e n t o t tin R lt 1 s t g o s . . p l 9 l. F-A
X
C o n so l g o ld o s . . . ................ip .), 1 1-1
tO o3* S a le 109*9 1 9 9 't
R o g is to r e d .......................... i u -b ' *l-i
1
1st , p rel in c o m e u 6 s __ p l 9 4 .
.......... 8 4
84
6
S ta m p e d .........................
85
85
2u p to i in c o m e w o s __ p l 9 4 .
73
73
2 d p i e t in c o m e * 6 as ta m p e t ___ ........... 7 d
7 5 S e p ’09
3d p rel in c o m e v o « . . . . g n n »JCI
111
71
.......... 72*9 7 1

.■sil-eel i t n i l w u y
B r o o k ly n R ap IT g o s .........19 4 6
1 s t r o tu n d c o n v g 4 S . .. .2 U 0 ’.
l ik C lt y 1s t c o n 6 a . 1 9 1 0 .1 9 4 1
B k 14 C o ib s c u l l g u g 0 8 .1 9 4 1
B k ly n U 11 Kl 1 s t g 4 -6 8 .1 9 o n
S tu m p e d g u a r 4 - o s . .. .1 9 6 b
K in g s C o Rl 1 s t g 4 h. ... 1 9 4 9
S lu m p e u g u a r 4 s ...........1949
N a s s a u tcleo g u g 4 s . ...1 9 5 1
C on n R y ib B 1 s t As r e l g 4 k s ’51
S ta m p e d g u a r 4 *us.......... 1961
D e t U n ite d 1 s t c o n g 4*9 8.1932
H a v a n a B lo c c o n s o l g 6 8 .1 9 5 2
I n t e r M e t c o ll 4 *98. ..............1966
I n t e r R a p T o - y i c o u v 0 8 .1 9 1 1
4 6 -y e a r 6 s S e r ie s A ........ 1952

89

Q -F

h u e B u rl <b y — l ie u v D 4 s 192 2 F-A
J *J
J *J
I ll s D iv 4 s ........................... 1949 J - J
I o w a u i v s in g lu u d 5 s . .1 9 1 9 A-O

A

bangs
S in c e

.5 C J a n u a r y 1

tl iq
Vo L ow U ig ti
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51
80
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9 u na S e p 'oil
90 *a
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110
1 0 4 7S J lle 08
106*8 109*4 115 N'ov'0 6
1 10-4 M ay’09
l 111*4 110*4
110 k
105
105 S o p ’uO
104
106
l 2 d>. 1 2 / *4 12 0 '4 j. 2 d ‘4
i 176*4 129
125 ", 127
i 125 k 127*4
12 j k
125"
no
110 J ’l y ’09
109
110*8
io i
t o o k S e p ob
101
99*4 101
l
o
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k
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100*8 10U:*>.
99 k 190 k
lo o

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M-M
d u e ib A lt l i l t "ret g '3 s '.'..1 9 4 ‘.* A-O
H a ilw a y 1 s t lie n 3 k s . . . l 9 5 o J *J

9 1 *u 9 3 ’
37 k 48

w #•#«■»

b a ni/e or
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b in
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j -j
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95
99
B ell ib W ilk s B Coal o s . .1 9 1 2
Con e x t g u a r 4 k » . .. .( 7 l 9 1 o
90*8 95*4
C o m P a c ific bee S o P a c ilio Co
89*4 « 4 80*4 SH*. C e n t V e r m o n t 1 s t g u 9 4 e .e l 9 2 o
. Oi
1 0 4 Hi C lias <fe .>av .see A t l C o a st L in e
35 1192
'lie s <b O hio go ld 6 * ..........<*1911
9524 9 7*4 M l
G en fu n d in g <fc im p t 5 s . 1 9 2 9
V 92*4 95
1 st c o n s o l g 6 s .....................1 9 3 9
n th e b a m 0/ 415 to £ .
R e g is te r e d ........................ 1939
G e n e r a l g o ld 4 k s .............. 19 9 2
94 3i
V*334
8 / -8
103*,
95
O i-.
03*4

tr ic e

Oct 1

>V< nan

A D us j'ly

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A-O 4 8 k . . . . .

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j- J
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8 2 k S e p ’09
4 8 J ’l y ’09
M 4 k J ’l y ’ 0 9
...........M 2 ", .0 0 J ' u e ’Oo
.......... 94
100 A u g ’d f
6 J ", S a it
09 k
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261
66*4 s a l t
66
68
109
1 1 0 ", o 9 k J ’ly ’ 0 9
8 6 Sa le
* 5 Hi
8 0 14 3:
101
...
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11 0 k N o v ’Ob
9 9 J ’l y ’Of . . .
97
99
9 8 A p r 'u 9
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8 3 k li
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8 6 8 op ’09
........... 8 4
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76*4 S a le
76*4
76
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p b u tA u r

81*4
43 k
103
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65 k
63*4
lt*8
83k

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105 k
102 k
102 k
72 k
72*4
116k
86k

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98
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73k
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99
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« O p U o n 6 a l*

fj0 W 2 o r k B o n d & 6 0 0 r d “ Continued— Page 2

828
U O N IBs
NT. Y. ST O C K E X C H A N G E
W kkk K n d in o Ocrr 1
C liio R ock 1 & P ac— (C on)
C iioc O k & G g e n g 5 s .o 1
O hio s t B ifc N o see IU c e n t
C h ic S t L A P i t t s dee P e n n C<
O hio S t P M & O c o n 6 s . . .1931
C o n s t3s r e d u c e d to 3 4 8 .1 9 3 1
Oh S t P <& M in n 1 s t a d s 191'?
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Wee/ds
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94 4 .......... 9 4 4 A u g ’09
C airo D iv 1 s t g o ld 4 s ___ 1939 J -J
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li
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95", 9 5
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0 I S t 1j & C c o n s o l 6 s . . 1921 M-N 165 .......... 100 Apr'O :
9 8 -4 9 9 4 9 8 4 A u g ’O'J
1 s t g o ld 4 s ......................./c l936 y -F
9 8 .......... 9 8 A u g ’09
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0 O O ifc 1 c o n s o l 7 s ...........1914 J-D n o ' .......... 111 4 J ’l y ’09
C o n so l s in k t u n d 7 s ___ 1914 J -1)
126 .......... 130 N o v ’08
G e n e r a l c o n s o l go ld 6 s . 1934 J -J
R e g is te r e d ......................1934 J - j
0 4 J ’l y ’08
in d B l & W 1 s t p r e l 4 s . 194 6
0 I n d & W 1s t p i 5 s ...( ( 1 9 3 b
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67
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60
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O lov <& P i t t s dee P e n n Co
8 1 4 S a le
81
8 1 4 15
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23
974
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9 8 4 Sa le
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a k A G t s o dee C M <& S t k
a lia s & W aco dee M K * i
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9 4 S e p ’0 . . . . .
1 s t rot g u g 3 4 s ............ 20Ui J -D
117
1 1 8 4 118 S o p ’69
N Y B a c k & W 1 s t 6 * ...1 9 2 1 J -J
110 S e p ’69 . . . .
C o n str u c tio n 5 s ............ 1923 F-A 1 1 0 111
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9 3 .......... 102 4 8 0 6 ’03
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D el * H u d 1 s t P a D iv 7 s . 1 9 1 . M-S f .......... 1 2 0 4 120 S e p ’69
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105
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7
1 s t lie n e q u ip g 4 4 s ___1922 J - J 1 6 3 4 S a le 103 4 1 0 3 4
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18
1 s t & re t 4 s .......................... 1943 M-N .......... 1 0 1 4 101
16 13,
1044
1
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K e n s * S a r a to g a l s t 7 » .1 9 2 J M-N 128 4 ..........
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7 8 J ’n e ’09
B io g r S o 1 s t g o ld 4 8 ....1 9 4 1 J - J ........... 7 6
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96 4
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97 J a n ’02
90
95
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110 S e p ’04
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95
......... 9 5 J ’l y ’09
D e l & M a c k 1 s t lie u g 4 s . 1996 J-D
9 2 J ’l y ’09
91
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71
80
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.......... 112 4 iU 0 4 M a r’0 b
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.......... n o
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3d e x t g o ld 4 4 s ....................1923 M-S 105 .......... 104 4 A p r ’O.'
.......... 107 4 A u g ’09 ___
4 th e x t g o ld 5 s ......................1926 A-C 1 0 6
9 9 ‘, .......... 9 7 J a n 09
6 th e x t go ld 4 s ..................... 192b J - i
1 2 4 4 S e p ’09
122
123
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1 s t c o n s o l go ld 7 s ............... 1926
124 A u g ’09
1 s t c o n s o l g tu n d 7 s ..........1926 M-S .......... 121
8 8 4 26
E rio 1 s t con g 4 s p r i o r ..1996 J -J
87 4 88 4 8 8 4
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.......... 8 8 4 8 6 4 M ay’uO
7 6 4 76
1 s t c o n s o l g e n lie n g 4 s . .1 9 9 6 J-J
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K o g is t e r e d ......................... 19Uo J -J
8 5 Si F e b ’O,
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6 0 -y e a r c o n v 4 i A ...........1 953 A-O
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114 J ’n e ’69
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IS ic e
F r id a y
Oct 1
Hid

E r ie — f Con)

WCSK'S
R ange or
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A sk Low

108
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A -0 .......... 109
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B 'a r g o <fc S o dee Ch M * S t P
L l in t & P e r e M dee P e r o Mar
F la C * P e n in dee S e a A ir B in e
8 8 4 .......... 1 0 5 M ar’O8 . . .
F o rt S t U D Co 1 s t g 4 4 3 .1 9 4 1 J -J
8 0 Sop ’09
86
88
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97 J ’l y ’0 9
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G e o r g ia P a c ifio dee S o Ky
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973, 277
G t N o r —C B A Q c o ll t r 4 s 1921 j j
97 s a le
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K e g is to r e d . h ....................... 1921 Q-J
l o o 7a j ’n o ’oi
S t P a u l M A M a n 2d 6 s . 1909 A-O
130
131
130
1364
18
1 s t c o n s o l g o ld Us...........1933 J - J
.......... 132-4 132 A p r ’O:
K e g is to r e d ......................1933 J - J
K ed u ced to g o ld 4 4 s 1933 J - J 1 0 7 4 .......... 1 08 S e p ’i>9
.......... 1033, J ’n o ’oi
106
J -J
102
102
3
M-N 1 0 1 4 102
1 0 0 3, A u g ’Ul
9 9 4 100
M ont e x t 1 s t g o ld 4 s . . 1937 J-I)
100 4 c u t ’U6
K o g is te r e d ......................1937 J -D
9 9 ........... l o l 4 J ’l y ’Oi
E M ii i u N o r D i v l s t g 4 s l 9 4 g A -0
112 .......... 124 M ay’05 ___
M in n U n io n 1 s t g 6 s . .1 9 2 2 J - J
1 3 0 4 S e p ’05
1 3 0 4 132
M o n t C 1 s t g u g 6 s ___ 193" J - J
1 3 6 4 M uy’OO
K o g is t e r e d ..................... 1937 J - J
5
1144
1 s t g u a r g o ld 0 3 ..........1937 J - J
1144 n o 4 1144
l-D 116 .......... 1 1 6 J ’110’09 . . . .
W ill A S F 1 s t gold 5 s 193
l ro o n b r le r K y dee d i e s A O
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I o c k V a l l 8 t c o n s o l g 4 4 s . 1999
K o g is t e r e d ..............................1999 J - J .......... 104
08 3 , i l a y ’09
9 8 4 99
Col A H V 1 s t e x t g 4 s . . 194b A-O
97
.......... 09 4 F e b ’05 . . . .
C ol A T o l 1 s t e x 4 s .........19 5 5 F-A
H o u s t E A SV T e x dee S o Pac
H o u s t A T e x C e n .V ca S o P a cC o
104
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1 lliu o is C e n tr a l 1 s t g 4 s . .1 9 5 1 J -J
1 0 7 ;1s \ i>: ’IE
1- K e g is to r e d ......................... 1951 J -J
9 0 S e p ’up
1 s t g o ld 3 4 s ......................... 1951 J -J
.......... 9 4 S o p ’09
93
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9 3 4 M ay'll;
E x t e n d e d 1 s t g 3 'us.........1961 A-U
8 0 J ’l y 'oi
1 s t g o ld 3 s s t e r l in g ...........1951 M-S
102 S e p ’01;
C o ll T r u s t g o ld 4 s ............ 1962 A -0 .......... 102
9!) J ’n o ’Ul
K o g is te r e d ......................... 1962 A-O ____
99 4
993, 103
99" , S a le
1 s t r e t 4 s ................................1965 •VI-N
B N O A T o x g o ld 4 s ... 1 9 6 3 Al-fN 1 0 0 .......... 100 S o p 'oi
97 May'OV
K e g is to r e d ..........................1953 M-N
1 0 0 A p r ’05 __
C a iro B r id g e g o ld 4 3 ___ 1966 J -D .......... 102
88 4 8 9 4 8 9 4 J ’no'u5 ___
L o u is v D iv A T e r m g 3 4 s .l 9 6 3 J • 2
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7 0 A p r ’09
O m a h a D lv 1 s t g 3 s .........1961 F-A
7 9 4 D e e ’ub
S t B o u is D iv A te r m g 3 s . 1951 J - J
........... 7 9
K e g ls te r e d ..........................1951 J - J
0 0 S o p ’06 . . . .
........... 9 0
G o ld 3 4 s ........................... 1951 J - J
K e g ls te r e d ......................1951
S p r in g D i v 1 s t g 3 4 s . ..1 9 5 1 J -J
99 4 1 0 1 4 10U3, M ay’UO
W e s te r n B in e s 1 s t g 4 s . .1 9 6 1 F-A
B e lle v A C ar 1 s t 6 s .........1923 J -D 1 1 9 4 .......... 121 I'O b’O,
9 8 M ur’UO
96
99
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C lu e S t B A N O g o s . . . 1951 J -D 1 1 9 3 , .......... 1 193, A u g ’dl
........ 118", J ’no'Ui
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9 0 F o b ’09
90
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1951 J -D
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M e m p h D lv 1 s t g 4 s . . . 1951 J -D
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| d B l A W e s t dee C O C A S t L
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9 9 4 98 A u g ’olIi n d 111 A l a 1 s t g 4 s ...........1 9 5 6 j - j
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1003g A u g ’Oii
2d go ld 5 s ............................... 1909 M-S
103
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T r u s t Co c e r t f s ..........................
4 8 J ’n o ’oi/
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86 4
48
1054
7 4",

08 4
112
1034
103 4
60
1114
82

K

L

71", 76 4
........ .......
10041014

11241154
107 1 0 0 4
112 4 1 1 1 4
10641084
107 1 0 7
u7
08
116", l i 8 ".
......
108", 109
96
97
i b i 4 i b i 1,

UO N U S-

1 1 0 7 4 108
74
6 60

t i l l s a n d E l e c t r i c B ig h t
l Y G E L H A P g 5 s . . .1 9 4 8
P u r c h a s e m o n e y g 4 s . ..1 9 4 9
Ed E l 1U 1 s t c o n v g 6 s . .1 9 1 6
1 s t c o n s o l g o ld 6 s ...........1995

N o p r ic e F riday; l a t e s t out a n d a s k e d t in s w e e k , a D u e .la u 6 D u e .< e o d D u e . i p r « D u e .d a y A D u e .j’ly




5 1

J -D .......... 103 4 103 S e p ’09,
85",
F-A
8 5 4 85"., 85 4
160
M -S ..........100", 1 0 0
1 1 1 4 J ’l y ’oo
J -J
9 8 4 5 la y ’0i>
ib £
ib i
1 100 4 i b i 4
F -A
07 4 J ’l y ’09
9 5 4 S o p ’08
M-N ...........100
1()4"4 N o v ’05
9 6 M a r’ll?
M-S
119 4 S e p ’06
6 1 4 O ct ’01
A -0 119 1 2 0
1 0 7 3, D e o ’00
103 4 S e p ’09
R e f u n d in g g o ld o s .............1947 M-S 103
105 105
105 J ’l y ’09
C ilG -L A C k e l s t g u g o s 19 3 7 J - J
104 1 0 4 4 104 4 S e p ’09
1U0 l o o
100 M uy’otl
102 8 e p 'OU
C on G C o o t Cli l s t g u g o s . ’36 J -D 1 0 2 >4 103
101 4 1 0 4 4
I n d N a t G a s A O il 3 0 -y r 5 s ’36 M-N .......... 9 3 4 94 4 A u g ’09
117 4 A u g ’09
no
118
M il F u e l G a s l s t g u g o s . 1947 M-N 1 0 1 4 .......... 10 1 "4 J ’l y ’09
8 8 S e p ’08
J -D 1 0 0 .......... 9 9 4 J ’n e ’09
....................... s
M-b
103 4 S e p ’09
102", 106
']
110 M ay’06
l u o J ’l y ’09
100 1 0 1 4 1
M S 100 .........
9 0 J a n ’0 8
9 1 S e p ’09 ___ 91
J -J
102 ........
924 l
J -D 1 0 3 4 106
_______________ ____________________________________________
____________________1
0 2 4 M a r'0 9 .

103 ..........
1 0 7 4 107", 108
68
67
69
101
lu o

80

9 i 3, 1 0 9 4
83
87
.......................

iU lS C fc-H B A N K O U M
H um m id E l e c t r i o B ig h t
A t la n ta G B Co l s t g o s . ..1 9 4 7
B k ly n U G a s 1 s t c o u g o s . 1946
B u ita lo G a s 1 st g o s ............ 1 9 4 ,
C o lu m b u s G a s 1 s t g 6 s ___ 1932
D e t r o it C ity u u s g o » . . . . . . 1 9 2 o
D e l G a s Co Con 1 s t g 6 s ...1 9 1 b
£ q 6 B N Y 1 s t c o n g o s . .1 9 3 2
U a s A E l e o B o r g C o c g d s .1 9 4 9
U r K a p U B Co 1 s t g o s . ..1 9 1 6
H u d s o n Co G a s 1 s t g 6 s . .1 9 4 9
K an C ity (M o ) G a s l s t g 6 s 1922
K in g s C o E l B A P g 6 s . . . 1937
P u r c lia s o m o n o y 6 s . . . . . . t 9 9 7
E d E l i t K ku 1 s t c o il g 4 s 1936
L a c G a a B o t S t B l s t g o s .e l O l l
R e t a n d e x t 1s t g o s .........1934
M ilw a u k e e G a s B 1 s t 4 s . . 1927
N e w a r k C on O a s g o s . . . 194

BOM BS
N . Y . ST O C K E X C H A N G E
W e e k E nding o o t 1

Range
S in c e
January 1

H igh No Low H ig h

J -J
M-N
A-O

128
93
1284
1204
1 16 4
1124
944

2s
•4

[V O L . L X X X 1 X .

« D U 9 iVug

0D u # O ot

7 D n e D oo

1004 1044
8 3 4 8 6 7*
100 1 0 0 7*
110 112
97
984
97 4 9 7 4
i 19*’ i b i "

1024104
103 1 0 4 4
101 4 1 0 3
864 944
1 0 1 4 1 0 1 s,
994 994

102 s 102 4
iO o t lo u S a l*

WttKK k n d in ii o c t 1
L on g D ock

See E rie

Q olil 6 b .

1

II

liia
U Q-t
ii i i
18 j - l
!2 M-8
V J -l
,9 M-S
4 J -l
9 M- S
1 M-S
1 M-S
h A-C
7 M-S
9 Q-J
7 M-S
0 J -l
(7 M-N
i) J - .
0 J -t
(1 A-<
1 M-N
b J -C
1 M-IN

0 J -J
II M -8
1 M-S
(1 M-S
5 M-N
I! J -0
1 M-S
7 J -J
5 M-S
2 J -J
N F la * 8 1 s t g u g 6 s . . . 19 3 7 F-A
fi J - J
1 F-A
6 F-A
(j M -8
L N A < fcC h S e e O l& L ,
\ / j a h o n C oal See L 8 & M S
IVJLanhattan R y c o n s o l 4 s . 19 9 0 A -0
, A-O
0 A -0
M c K ’p t * B V See M Y C e n t
M nv n oiit. Anna rv Ao
1 (11 J - J
9 J ’ly
M.OX I n t e r n a t l s t c o i i i

Week's
Jiange or
L a st Sale

I'rice
F r id a y
Oct 1

A sk Loin

l l ’A ..........
09® 8..........
9 7 3 8 ..........
100*2104
90
97
06*4 0 8
.......................
9 3 34 ..........
I 0 6 a4 ..........
101) ..........
1 0 0 * 2 ..........
10 3 108

JHign No

112*8 S e p 'U b
07V
9 7 Hj
0 0 V A p r '00
99*4 O ct ’()0
0 8 S e p ’00
104 V U e e ’0 8
98V
98h

........... 0 8 V
115 V 117
1 1 6 S a le
00 V s a le
i b o v ..........
n o * s ..........
1 1 1 * 2 ..........
1 0 3 * 2 ..........
126®a ..........
118 ..........
1 0 6 V 108
1 1 4 * 4 ..........
68
76
04
04 V
.......... n o
07
08
1 0 5 * 4 ..........
00
01
..........1 1 3
103 106V
.......................
n o
in
.......................

101*8 D e o ’oti
110*4 N o v ’0 6
105 A p r ’07
100 N o v ’00
9 7 V S e p *00
16H* HOW.
10
no
9 3 •'*8 0 0 .
100 M a y ’00
0 5 J ’u e ’Oti
. l o t ) S e p ’01
111 V Aug'OO
107 V J ’n e o O
125 S e p ’00
120 J a n '00
L07V A u g ’OO
L17 M a y ’07
7 1 M a y ’OO
94 V
01 >3
.1 0 J ’ly 00
.1 0 J a n ’00
07
07
0 3 D e o ’08
0 0 S o p ’00
18 V J ’l y ’00

04

06
0 8 34 9 8 V
9SV
....................... .04 A p r '06
0 0 V OU3, 0 9 V
00 V
05 V 96
26
27 V

0 6 S e p *01
10 A u g ’Oi
2 5 >2 A p r 00
8 0 j ’l y ’00
80
F e b ’08

j .\i’. S

M-S
.......................

M ich C e n t See N Y C e n t
M ill o t N J See F r io
M il L « A W See O iilo <fc 1
J -I)
A -0
1 J -D
M-N
1 M-8
J -J

M in n U n See S t P M AA1
Mo K an A T o x 1 st g 4 s . ..1
2 d g o ld 4 s .............................q i

J -J
J -J

J -D
F-A
M-N
M-S
J -J
G en s i 4 V s.
A -0
M-N
I F-A
A -0
M-N
M-S
J -D
M-S
M-N
M-S
M-S
F-A
M-S
M-N
1* A
J-l>
J -J
F-A
J -J
8 t L I r M A S g e n c o n g 5 s l9 3 1 A -0
G en c o n s ta m p g td g 6 s 1031 A -0
J -J
M-N
M-S
J -J
M ob A O h io u eiv g o ld O s ..11)27 J - 0
1 s t e x t e n s io n g o ld 6 S ..M 9 2 7
J
-s
G e n e r a l g o ld 4 s ................... 1 03t
-A
M o n lg u m D lv 1 s t g 6 s . . 11)47
8 t L A C airo c o ll g 4 s .. e ll ) 3 o o - F
G u a r a n te e d g 4 s .............11)31 J . j
M A O c o ll 4 s See S o u th e r n
M o lia w k A A lai S ee X Y O A 11
M o n o u g a h e la K lv See B A O
M o n t C e n t See S t P M A A1
M o r g a n 's L a A T See S P Co
M orris & E s s e x See D e l i . * \ \
a s h C h a t A S t L 1 s t 78.11)13 J - J
1 s t c o n s o l g o ld 6 s ...........1 0 2 6 A -0
J a s p e r B r a n c h 1 s t g O s..10231 J -J
M oM M W A A t 1 s t O s.. 1017 J -J
T A P B r a n c h 1 s t Os___ 1017 J - J
N a s h F lo r A s h o t See L & x
N a t H y s o l M e x p r U t . s 1067 r - j
G u ar g e n 4 s .......................... 107 7 A-O
N a t o t M e x p rior n e n 4 V s .1 0 2 0 j . j
1 s t c o n s o l 4 s ......................... 106 1 A-O
N e w 11 * D See N Y N i i & 11
N J J u n o K B See N Y C e n t

N

13 3 ..........
1U834 .......... 1
,
.......................1
...........1 0 9 V 1 o j ^
.......... 8 3 V 8 5
91
02
07

J a n ’0
M a y ’O.
J ’l y ’00
S e p ’00
A p r ’o t

.......... 90**4 1
0 8 V .......... 0 0

J ’l y ’00

100*a S a lt 1
8a V S a le
.......... lUtf 1
8 4 78 8 5 V
0 0 Salb
8 5 ..........
1U0 107 V l
........... 03
1 1 3 11 3 V 1
107 V 100
1
1U6 1 U6 34 1
.......... I l l
1
10 7
1U834 1
..........1 1 4 V l
l o l a4 S a it 1
....................... 1
102 .......... 1
81*2 S a it
b6*>4..........
0 4 V 06
8DV OL
..........
1L4 .......... 1
.. 1
1U O V U O
1
8 7 ..........
80 **6 8 0 V
....................... [
1 2 2 * 4 .......... i
1 1 7 j4 1 1 8 V l
80
..........
1 1 2 7$ .......... 1

lOO*,,
88 V
S o p ’Ob
85
00 V
A p r ’Ob
A p r ’Ob
mop ’00
, Aug'Ob
S e p ’00
• A p r ’1
to 7
S e p ’00
1 0 134
a F e b ’07
I 02
s
82

4

Mar'Ob
Aiar’06
S o p ’ub
S e p ’ob
2 S o p ’Ob
S e p ’00
87*2
80
2 A p r ’Ou
D e c ’Ub
J ’l y ’oo
t A u g ’Ob
Aluy’Ob
N ov ’04

.......... n o
u
.......... 113
1
117 .......... 1
....................... t:
.......................1
9 4 34
87 34
102
83

8 a le
s a le
102V U
84**4

J ’l y ’04
1
1

Range
S ince
January

0 4 7s
88
A u g ’OO
S o p ’09




J -D
M -S
P -A
F A
F-A
F-A
A-O
J -D
J -J
J -J
J J
J -J
AO
J -J
J -D
F-A
J -J
M -S

95

ibo"

87*2 83

L07 Aluy’97
105*2 D ec’06
83
78

S e p ’bb
F e o ’b?

1*03 v, ib jj,’ 103 *2 li)3 V
.........100*4 10 8 A u g ’Ub

108

.......... 87
0 0 *2 S a le

S e p 'Ot'
110 J a n ’Ob
103 X o v ’Oh
87
.Yug’lib
bO*v
00*2

W eetfs
Jiange or
L a st S a le

•*.
Jiange
1^:
S in c e
bo
JQ-C J a n u a r y 1

But
a s s 1 Low
* Y B kln * M an Bell See L I
Hu/isi ,\r> 1Low HigJs
01
0 1 VJ 01*8
4 Y C e n t * H K lvg 3 *38.1007 J . J
9 1 V 23 0 1 V 04 V
.. 92*4 0 3 34
R egistered..................... 1997 J - J
8 0 V 0 0 >.; 9 0 V S e p ’6 0
Doben g 4s....................... 1034 M N
0538 9 6
25 03*8 0 6 V
00
96
82*4 8 3
Lake Shore coll g 3 *33 .. 1008 F A
82*2
V 'V U
82*4 8 5 V
8 0 V S a le
R egistered................. 1998 F-A
11 8 0 V 8 4 V
80 V
82
06
93
82
82 V 82 V
Mich C eut coll g 3 *33___ 1998 F-A
82", 17 80 V 84 34
R egistered.......
19 9 s F A ........... 8 3 ®(i - 8 2 V J ’n e ’o o
82
82 V
O f” "O0*e
Beech Crook 1st gu g4*sll930 J - J 1 0 0 * 8 _____, i o o j4-J ’u e 'o o
100V lOOV
R egistered..............
1939 J - J
101
.. .
107 ..........
2 d gu gold Os............ ..1930 J - J
B eechC r E x t 1 s tg 3 >3 3 61951 A -0
8 1 V ..........
C a r t* Ad 1s t sm g 4 s ...1981 J -D
! *97 VA pr*’b”
*0*7 V *97 *2
G °uv A O s w e ls tg u e&s 1942 J -l)
96
99
Moll & Mai 1 st gu g 4 s ..1991 M-S *.” *.” i o o s 1 i o o i i sep '-b sl
i b o " i b o ’v
llo V 117V
N J Ju n o R gu 1st 4 s ...1986 F
0 1 3 8 ........... 105 (Jet 'Ol,
110 117
• 96*4 O c t ’O i
5 * * H arlem g 3 V s...2000 A/l-N
126 99 V 1 0 2 *«
* * * » « t h 1st g O s...1927 A O 1 0 0 i i T 107 V A u g ’Ov
100 1 0 0 V
0 0 ........... 100 S e p ’08
N Y <fcPui 8t c ° n gu g4 s 1993 A-O
.......................
& M ont 1st g u g 5 8 .1 9 10 A O
ibsv i'iiov NS1or
|i* a T v i*3*iv
? 5 2 i ? ek r0JT " ^ r Os.1032 J -D i b i ” ib o 's < i b l V -Jan KJb
111 I l l ' s
1
0
9
I
I
0
7,
A
0
, lo b
100
” ‘i 1100 n i
R W A O c o n ls te x t 5 s.A 1022
107 ‘4 1()7V
Oswe A R 2d gn g 5 s...e l9 1 5 F-A .......... 1 9 5 V 1 0 5 J a n ’Oa
124V 1 2 6 3 b
§ W d iO T R ls t g u g 5 s .1918 W-N 1U0 34 100
120 1 2 0
Kntland l s t con g 4V s .. 1041 J - J . . . . . . . .
103 S e p ’lK'-,
OgALCharo l s tg u 4 s gl048 J -J .......... *9*4 ” 0 3 V A u g ’Ob
I »i
9 3 'ifl
R u t-C a n a d ls tg u g 4 s .l0 4 !i J - J .......... 0 1 V 92 J ’n e ’Ob
9 0 34 92
71
J
J
St Law A A dir 1st g 5s. 1000
11 a
115 F e b ’09
jIIii1t )
110
oev
2 d gold Os.......................1990 A -0
125 F e b ’08 . . . j
U tica A Blk R lv g u g 4 s.l9 2 2 J - J i b i ” .” ” ” 103 *4 D e c ’0 8
uo
110
Lake Shore gold 3 *33___1997 J -D
01V 02V 91V
4 91
01V
95 V
06
98V
R egistered..................1997 J -D
1)0 aj A u g ’Ob
10 V 04 V
D ebenture g 4s............ 1028 M-S "0*4 V * 0 6 " 9 4 <*8
'-’4 34 **io 94*8 97
8 8 ” " o i'v
9 1 V S a ls
25-year g 4 s .................. 1031 M-N
04 V
94 V 0 7 | 9 3
97 V
112 V 1 1 5 *4
K a A A G R 1st gu 0 58.1038 J - J 1 1 2 V ..........
Mahon C’l lilt 1st 5 s ..1034 J - J i i 3 v n o
i b o ” o c t *’b f
100 100*8
100 M ay 0 8
E 1! ! 8 & L Kri0 2<l K 6 s . a l 028 A -0
1 ' 0 V 1 1 6 *2
P ttts MoK A Y 1st gu Os.1032 J - J 127 .
130*2 J a n ’00
130H H 30**
04
05 V
12 0 * 3 .
2 d guar Os...................... 1934 J - J
MoKees A B V l s t g Os 1018 J - J n i * a .
M-S
Mich
C
ent
1
st
consorOs.lOOO
00
1 01 101
15 0 2 *2 ,1 0 0
1 1 4 34 O ct 08
5slV.................................. 1031 M -S iV»>i'n o
112
R egistered................. 19 3 ]
no
J ’n e ’OC
bov ioov
0
0
3<
100*4
A
p
r
’dii
»
*fl--.................................. 1940
i b b ‘'e i b o t i
R egistered................. 1940 J -J
l0 0 * 2 X o v ’0(J
8 3 4 064
J L A 8 1 s t g 3*28 ....... 1951 M-S
0 0 J ’n e 08
2 4 >a 27 *i
l s t g 3 Hj s ...................... 195.2 IW-N ........... 0 1
0 3 *2 J ’i y ’ob
b 1 *8 03*2
2 0 a4 2 6 4
20-year deb 4 s..............192’.* A O .......... 02*v 92*3
02*2 95*4
80
SO
B at c A S lu r 1st g u g 3s. 1089 J -D
i’
o
u
®
8
ibi
A-O
N Y Chic A S t L 1st g 4 s 1937
i b b ‘4 " ib o M
lOU*4 102*4
ibo*bibi'
o o *i 1 0 0
R egistered.....................1937 A -0
10 0 A u g ’OO
t o o 100*2
D ebentures 4 s..............1031 M-N ......... 01*2 01*2
9 1 E,
9 1 38 9 4
101
lO t
W est Shore 1st 4s g u . .. 2301 J -J 1 9 1 ^ . .
it lo l
104*2
1 0 1 101*s 101
101
vt K e g u tered ..................... 2301 J -J
2 3 100 103Si
N \ A G reenw Lake See Erie
132 *a 133*2 N Y A H a r See N Y C A Hud
N Y Lack A W See D L A \V
10134 103*8 X V )i K A W See Erie
100 111*3 N Y A Long Br See C ent of N J
84*4 87*4 X Y N 11 A 11—Conv Os..1948 J - J 1 4 4 S , S a le 141*4 U 6
1 3 3 -\ 140
C onvdeben 3 >33............ iy 66 J -J n o S a le l('fe34 111 *4 o S t 07*2111*4
H ousatontc R con g 5 s.. 1937 At-N 1 1 0 * 4 .......... 118*2 D e c ’o
0 9 100*.
N H A D erby con cy 5s.1918 ■Vl-X
107 A u g ’Ob
107 107
00
00
N Y A N o rth See N Y C * H
9 8 *a S a le
N Y O A W rot l s t g 4s..o l0 9 2 M-S
08*2
O8 3, l l f i 0 8
B934
0808 101*4
Regis 65,000 only.........p i 902 A1-S
l O l S i J ’n e ’Oi.
8 6 V 8 8 V N Y A P u t See N Y C A H
104*4 100*3 X Y A R B See Long Island
8338 87 V X Y S A W See E rie
90
0 3 V X Y Tex A M See 80 Pac Co
88
8 9 *3 N or A S outh l s t g 5s.........1041 •Vl-li 1 0 3
0 4 J ’ne'Ob
1 (0 4 1 0 4
100*3 1 1 0
N orl A W est gen g Os....... 1031 M-K 12 6 U
120*4
UOh
■120*4 123
03
03
Im provcm ’t A e x t g Os..1034 F-A 120*4 12 8 12 0 M a r ’o i
1120 120
113 114*3
120*4 128*2 I ’n e ’Oi'
A-0
128>g
w T t § 1Xe r 1l 8 t * t53.........1 9 3 2 A-O
103 11 2
"OO •Sal
00
0 9 6.
N
A VV Ry 1st con g 4.3.1990
*’3 100>s
105 110
R egistered..................... 1999 A-O
0 7 J ’l y ’oj
07
07
110*4 U 0*4
D iv’l 1st l A gen g 4 s ...1044 J - J
03*j
93
05
o n b 0 3 '■ 93*4
t o r 111**8
ll'-Oo year conv 4 s .... 1032 J-D 1 0 J S a le 1 0 i* 2 102*4 139 0 3 *» 1 0 3 **
113
no
J -D
01 s a le
Pocah
C
A
C
Jo
in
t4
s..l0
4
1
01
91
S -V 03
16 100*3 i o c v
C C A T 1st gu g 5s.........1022 J -J 1U5
100*a F e o ’OC
Scio V A N K 1st gu g 4s 1089 M-N
05
00*4 b o 34 05*4
i 96**4 * 0 8 *2
ib i" ib s v
N orth Illinois See Chi A N W
7 8 V 85*6 N orth Ohio See L Erie A VV
0(5*8 0 6
Nor Pao—P rior lien g 4 s ..1007
J 1 0 3 S a lt L02 ** 103
4b t 0 2 ' s l 0 4
80
0 5 *8
R egistered ..................... 1997 U -J
102 *a S e p ’Ob
J101
103
80
01
General lien gold 3s__ «2047 W-F
74
,4 V
7 4 s a le
R e g iste re d ..................a2047 ■4-b
13 J ’l y ’Di
7 1 .........
7 4 34
b o v ib o v
S t Paul-D ul Div g 4s__ 1000 J -D
0 0 *4. Sep ’ut
0 7 7.
112*3 115
D ul S hort L I s tg u 5 s .. 1016 M S
100 *a 112
tr4 s A eeGtNor
no *
4i n * , , SCt BP AA GXcoll
P gen g O s.... 1023 F-A 1 2 0
120
1 1 .2 0
121
80
0 0 a4
R egistered C6rtlflc’8..1923 d -F 1 1 9 1 2 0
M a y ’01
.1 5
120*2
8 3 '8 01
S t P aul A Dul 1st 5s__ 1031 F-A 114
117*4 J ’l y ’o',
2»1 6 s ............................... 19 17 A-O I 0 4 * a ......... I04'a 104
l j ( ( » l 1 0 4 34
1st consol gold 4s.........190b J -D
03
00
Ob S o p ’o£
" 07*2 90
n o *3 125
W ash C ent 1st g 4 s ......... 19 4 s -M 0 4 * 2 ......... 02*2 J a n ’u
9 2 *2 92*2
117
118
Xor Pao T e r Co 1st g Os..1033
J 1 1 0 S i......... 115 J ’l y ’uS
I t 1.5 HO *#
86*3 0 1
X or Ry u a l See so Pac
112*3 112 V Xor Wis See C S t P M A O
Xor A M ont See X Y C ent
I >,lu a ,& W See C C C A S t L
n fh io R iy UR See u alt A U
J r e * Cal see So Pac Co
J r e Short Lino see Un Pao
Jsw ego A Romo see N Y C
IJao Coast Co 1st g 6 s ....1040 J-D 108*a 1 0 9 I08*a 108*2
.0 8 *2 112
l ao ot M issouri 6'e« Mo Pac
11038 112*4 Penn liR 1st real e st g 4 s. 1023 M-N .......... 1 0 4
10 4 S e p ’01
103 1 0 5
H 2 34 113*6
Consol gold 6 s .................. 101b M-S 1 0 9 * 2 ........... 100*2 J a n ’Oi
100*2 109*2
Consol gold 4s.................. 1943 .81-N 1 0 0 .......... 101 S e p 01
101 104*2
C onvertible g 3*123........... 10 12 M-X Iu5 *2 Sah. 104*4 100 *, >6
97*2 1 0 6 14
C onvertible g 3 *as........... 1916 J -D
0 0 *e b a le
08*2
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Consol gold 4 s ................ 1048 Nl X 10 3 S. Sale 103 *2 10 4
2 a lL 0 3 *4 1 0 5 34
9 2 78 9 6
Aliog Vui gen gu g 4 s ...l0 4 2 ,V1.S 1 0 0 ........... 0 0 J ’u e ’o l
80
80
D li R R A Bgo le t gu 4s g .’30 F-A
0 6 ...........
102 103
P hila Bill A W 1st g 4 s ..1043 M-N 1 0 3 * 4 .......... 1 0 4 J ’n e ’ut . . . . 103*2 1 0 4
80
85
Sod Bay A So le t g 6 s ...1024 J - J 1 0 0 .......... 102 J a u ’Or;
U X J l i l i A Can gen 4s. 1044 M -S 1 0 3 34 1 0 0 i0 6 * a J ’l y ’tW . . . . 104 100%

0 0 34 .......... 100 M ay'09
........ 0 7 34 J ’n e ’Ob
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88
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B u f f & S u s q I r o n o l 6 e . . . . 103 2
D e b e n t u r e 5 e ..................a 1 0 . o
C oi i' As i (Jo gu n s 1 g 6 » .. i u 4 .
Con v e t tib lo d e b 6 s ___ 1011
C ol X m lu 1 s t Jb c o ll o s g u . . 1034
C o n tiu ’tu lC l s t s t g u 5 s g . l 9 5 .
G r R iv C oal «fe C l s t g 6 s . . 101b
J e l l * C le a r C & 1 I s t g 6 s . l 0 2 ‘i
K a n As 11 CJb C l e t s f g 6 s . l 0 b l
l ’o c a li C on C o llie r l e t e 1 5 s .’5 i
S u n d a y C reeK C o g 6 s ___ 194 1
T o n u C oai g e n 5 a ................ 1951
l e n n D l v l e t g Os....... a l 9 l 7
B ir m D l v 1 s t c o n s o l 6 s . . 1017
C all C M Co 1 s t g u g 6 s . 1022
D o B a r Cifc 1 Co g u g Os. 191 0
V io to r F u e l 1 s t s 1 Os.......... 105 3
V a lr o n C o a i& C o ls t a a s . 1 0 4 0

1

B onus
N . Y. ST O C K E X C H A N G E
W kkk E n d in o o o t 1

B O X U » —C o n t i n u e d o n N o x l P u k o

T e le g r a p h a n d T e le p h o n e
100
A m T o le p * T e l c o ll tr 4 s 1 0 2 0
0 7 34
C o n v e r t ib le 4 s ......................1 03 6
1 0 0 m M i d i S t a te T e le p 1 s t 6 s . .1 0 2 4
87*s P a c T e l & T e l i s t 5 s .......... 1937
8 4 V W e s t U n io n c o l tr c u r d s . 1 0 3 6
Fit a n d r e a l e s t g 4 *2S . . . 1 0 oo
C o n v 4 s , S e r ie s A ............ 1 0 3 6
M u t U n T e t s f u n d 6 s . ..1 0 1 1
H n n i i l n c i u r i n g iV i n d t i e l r u i i
86
80
A l l is .c h a l i n e r s 1s t 5 s .........lo o t,
A m A g c h u m 1 s t c 6 s .........1023
LOIV 1 0 4
A m C o t O il e x t 4 *28............. 1 0 1 5
106*4 100
A m H id e & L 1 s t s t g O s . .1 0 1 9
i0 6 v , 103
A m o r I c e s e c u r d eb g 6 s . . 1025
LIU 11 0
A m S p ir it s M tg 1 s t g 6 s . , 1 0 1 i
A m T h re a d l 6t c o l tr 4 s . . l 9 1 b
87
A m T o b a c c o 4 0 -y r g 6 s ___ 1044
100
4 s . ............................................... 1051

J -J

M-S
F-A
J -J
J -J
M-N
M-N
M-N
J -J
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N. Y. S T O C K E X C H A N G E
W kkk KVIiin u OCT 1

p

tr ic e
tv id a y
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Hia

P e n n Co—O u a r l f l t g 4 k s .7 9 2 1 J - J
R e g is t e r e d ........................1921 J - J
G u a r 3 k" c o ll t r u s t r e * . 1937 M-S
G u a r 3 *0 8 oo ll tr s e r 1 5 ...1 9 4 1 F A
T r Co c e r t t f ’s g u g 3 * 2 8.1 9 1 9 M-N
G ti 3*28 tr c tfa O ................. 1 9 4 2 1 -D
G - 3 *28 tr c t f s I)................. 1944 1 D
G u a r 15-25 y e a r r 4 8 . . . . 1931 A O
Cl * M ar 1 st g n g 4 *28 . . 193 5 M-N
C I A I* g e u g u g 4 k 8 .s e r A . ’42 J -J
S e n e s B ............................... 19 4 2 A-O
S e r ie s C 3 k s ..................... 194b M-N
S o n e t, D 3 k » ~ ..................1959
E r ie A P u t s r u r 3 *2S B .1 9 4 9
S e n e s C . . ........................... 1 9 4 9
G r K A 1 e x 1 st r u r 4 *231 9 4 1 J - J
P i t t s n \ V & U 1 s t 7 s . . .1 9 1 2 J - J
2d7e*........................................19 1 2 J - J
3 d 7 s ................................... A 1912 A-O
P itt s Y A A sh 1 s t con 6 8 .1 9 2 7 VI- N
P C C A S t L RU4 *as A . . . 1 9 4 9 1A-O
S e r ie s B g u a r ............... . .1 9 4 2 A-O
S e n e s C R u ar................. .1 9 4 2 M-N
S e n e s 1> 48 g u a r . . . . —.1 0 4 6 ■M-N
G e n e s E 3*2 Ruar R . .. .1 9 4 9 F-A
S e r ie s E 4 s g u a r ...........1 9 5 3 ,] D
C S t L A P 1 s t c o n g 5 8 .1 9 3 2 A-O
P e n s a c o la A A t l Sec L A N asl
P e o A E a s t See U C C A S t L
P e o A P e k U n 1 s t r 6 s ___ 1921 O-F
2ti g o ld 4*28......................... 61921 M-N
P e r e M arti—OH A W A1 6 b 1921 J -D
F lin t A P M R 68........
1 9 2 9 A-O
1 s t c o n s o l g o ld 6 s ............1 9 3 9 M-N
P t H u r o n B iv 1 s t g 5 8 .1 9 3 9 A-O
S a g T u s A H l s t g u g 4 8 .1 9 3 1 E-A
P h il B A W s e e P e n n U K
P h ilip p in e R y l s t 3 U - y r s P 4 s ’37 J - J
P it t s Oin A S t L S e e P e n n Co
P i t t s C lo v e A T o l See B A O
P i t t s E t W A Ch See P e n n Co
P i t t s M c K e e s A Y See N Y C eu
P it t s SH A L K 1 s t g 5 s . ..1 9 4 0 A-O
l e t c o n s o l g o ld 5 s ............... 19 4 3
P it t s A W e s t see B A u
e a d in g Co g e u g 4 s .........1997 J - J
R e g is t e r e d ......................... 19 9 7
J e r s e y C e u t c o ll g 4 s . . . 1951 A O
PlnJa A R e a d c o n s 7 s . . .1 9 1 1 J -B
R e n s s e la e r A S ar See 1) A 11
R ich A JL)an Med S o u th R y
R ich A M e e k See S o u th e r n
R io U r W e s t See l ie u A R io G i
K och A P u t s See B R A P
R om e W a t A O g See N Y C eui
R u tla n d See IN Y C e n t
c*ag T ub A 11 See P e r e Marti
O t J o A U r Is! 1 s t g 4 s . ..1 9 4 7 J -J
d t B A C airo see Mol> A Olin
j t L i t Iro n M o u n t see M P
Bt L jM Br See T R R A of S t 1.
S t L o u is A S E—- J e u g 6 s . 1931 J - J
G e n e r a l g o ld 6 s ....................1931 J - J
S t L A S E R R c o n s g 4 s . . ’Uo J J
G en 1 5 -2 0 j t 0 s ............ 1 9 2 ’, M-N
S o u th w l n v 1 s t g 5 s . .1 9 4 7 A-O
R e fu u ih n g g 4 s ............... 1951 J - J
K C E t S A Ai c o n g 0 8 ..1 9 2 8 M-N
K C E t s <fc M R y rer g 4 s 1 9 3 9 A-O
K C A M it A 1 5 1 st g u 6 8 .1 9 2
O z'r k A CU C 1 s t r u 5 s g .1 9 1 3 A-O
3 t L o u is S o See I llin o is C e u i
3 t L S W 1 s t g 4 s bd c t l s . l 9 » i M-N
2d g 4 s in o bond c tfs ...j> lU 8 1 J - J
C o n so l g o ld 4 s ......................19 3 - J -l>
G r a y ’s P t'X er l s t g u g O s 1947
S t P a u l A B u i s e e IN or P a c ific
S t P M in n A M a n Sea G t N o t
3 t P A .s o r P a c See A or P
S t P A S ’x C ity s e e C S t P M A i
3 A A A P a s s 1 s t g u g 4 8 . . . 1 9 4 3 J -J
S i< A A P 1 s t s in k l g 6 8 .1 9 1 9 J J
S a y E A W e s t See A t l C o a st L
S c io to V al & N E See A or A \ \
S e ab oard A ir L in o g 4 h . . . 1 9 5 u A-O
C oll tr r e tu u d g o s .......... 1911 M-N
A tl-B ir u i 3 9 - y x J s t g 4 a . e l 9 3 i M-S
Car C e n t 1 s t c o u g 4 s ..,1 9 4 s J - J
E la C eu A P e n I s t g 6 s . l 9 1 i - J - J
1 s t la n d g r e x t g 5 s . . . 1 9 3 i
C o n so l g o ld 5 s .................1943 J -J
G a A A la R y 1 s t c o n 5 s o 1946 J -J
Gu Car A A o 1 s t g u r 6 s 19 2 9 J - J
S c a b A Ron 1 s t 6 s .............1 9 2 c J - J
3Hor Shv A So See M K A T
311 S p o c a A U See A t l C o a s t 1.
3o Car A G a See S o u th e r n
S o u th e r n P a o illo C o­
G old 4 s ( C e u t P a c c o ll) .f c l9 4 i J -D
R e R is to r e d ............ . . . . / c l 9 4 ! .1-1
2<.'-year c o n y 4 » ...........0 1 9 2 ; .M-S
C e n t P a o l » l rel g u g 4 b 194'. E-b
R e g is te r e d ......................... 191'. E-A
a io r t g u a r g old 3 k s..A :1 9 2 '. .1-1
T h ro u g h S t L 1 s t g u 4 s \ s A•<
G al l i a r A S A I s t g 0 s . . l 9 1 t F-A
M e x A P a c l s t g 6 s ___ 1931 M-N
G ila V G A A 1 s t g u g 6 8 .1 9 2 4 M-N
H o u s L A W T 1 s t g 5 s . l 9 3 3 M-N
1 s t g u a r 6 s r e d .............1 9 3 3 M-N
R A X C 1 s t g 6 s in t g u . . 19 3 7 J - J
C o n so l g 6a in t g u a r . . .1 9 1 2 A-O
G e n go ld 4 s in t g u a r .. 1921 A-O
W a c o A A W d l v l 8 t g 6 s ’3t
A A A W 1 st g u k 6 s . . . . 1 9 4 1 J -J
M o r g a n ’s L a A T 1 s t 7 s ,1 9 1 b A <J

R

W etter
R a n q e or
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A eh Low

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9 5 *i 9 7
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..........
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107 110
107 ..........
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1 1 6 ..........
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100*4 D e e ’08 ___
127*8 O c t ’02 . . . .
1 1 0 M ay' 9 . . . .
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1 0 7 7» J ’l y ’09
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116 A u g ’09
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.......................

.li I b O h l.I .A A t O U s
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93*4 S a le
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B e lli s t e e r 1 s t e x t » r 6 s . . 1926 j-J
C e u t L e a th e r 2 0 -y e a r g 6 8 .1 9 2 6 A-O 100*8 S a le 100*4 100*,
C orn P r o d R e f s f g 5 s . . . . 1 9 3 , M-N
96
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81
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154*2 S a lt 1 6 4 1* I 6 ., k
I n t P a p e r C o 1 s t c o n g b s . l o i a F- a ...........104*2 106 S e p ’09
C o n s o l c o n v s f g 6 s ........1935 J -J
89*4
89
8 9 Ag 8 9
105
I n t S t P u m p 1 0 -y r c o n v . 6 s ’13 j J 104*, 106 1 0 5
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R e p u b l & S 1 s t * Coltr 5 s . 1934 A-O I 0 0 7g l 0 l k 101"* S e p '09
96V,
U n io n B a g & P 1 s t s i 6 s . . l 9 3 u J - J
.......... VOV, 96*4
U s i.e a lb Co s i d e b g O s .,1 9 1 3 M-N 106 106*4 1 0 0 S e p '09
U S R e a l t y * I c o n v d e b g 5 s ’24 J - J
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90
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9 3 k .......... 9 5
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a B us J a*




tr ie r
t r i ’i a y
O ct J

o u t iie n i Pao (JO— ( c o n tm u e u j
S o o t C al g u a r g 5 s ...........1 9 3 8 A-O
o r e A Cal 1 s t g u a r g 5 8 .1 9 2 7 J - J
S o P a c o t A r i /, l s t g u g O s.o’l o J -.I
o o p a c o t C a i—6 s E & E . 19 1 2 A O
1 s t g o ld 6 s ..........................19 1 2 A-O
1 s t co u g u a r g 5 s .......... 1937 M-N
S P a c o f N M ox 1 s t g 6 s . . 1011 J
S o P a o C o a 3t l s t g u 4 s g . 1937 J - J
S
T o x A N O S a b D lv l s t gO s.1 9 1 2
J
Con g o ld 5 s ....................... 1 9 4 3
J
o P a c R U 1 s t r e f 4 s .......... 1955
s o u t h e r n —1 s t c o n g 5 s ___ 1994 J - J
J
R e g is te r e d ..........................1994
D e v e lo p A g e n 4 s S e r A . 1956 A-O
M ob A O lu o c o ll tr g 4 s . . 19 3 b •M-S
J
M em B i v 1 s t g 4 12 - 5 s . .. 1 9 9 6
S t L o u is d iv 1 st g 4 s ___ 1951 J - J
A l a C e n R 1 s t g 6 s .......... 191b J - J
A tl A D u n v 1 s t g 4 s ........ 1 9 4 8 J - J
2 d 4 s ..................................... 19 4 8 J - J
A t l A Yad 1 s t g g u a r 4 s . 194 9 A-O
J
C ol A G r e e n y 1 s t Os.........1916
E X V a A U a B iv g 5 s . .1 9 3 0 J - J
C on 1 s t g o ld 5 s .............. 1 9 5 6 AI N
E X e n reo r lie n g 6a .........1 9 3 8 M-S
G a M id la n d 1 s t 3 s ............ 19 1 6 A-O
G a P a o R y 1 s t g 6 s .......... 1 9 2 2 J -J
J
K n o x A O h io 1 s t g 6 s . . . 1925
J
m o u A m r p rior u e u g 6 s 194 5
.M ortgage g o ld 4 s ..........194 5 J - J
J
R ich A D a n c o n g 6 s ___ 19 1 5
D e b 5 s s ta m p e d ................1927 A-O
R ich A M e e k 1 s t g 4 s . . . 1 9 4 8 M-N
So Car A G a 1 s t g o s ___ 1 9 1 0 M-N
V ir g in ia M itt s e r C U s ...1 9 1 M -S
s e r i e s B 4 - 5 s ....................1921 M-S
S o r io s E 5 s ......................... 19 2 6 M-S
G e n e r a l 5 s ..........................19 3 6 M-N
G u a r s ta m p e d .............19 3 6 M-N
VV O A W 1 s t c y g u 4 s . .1 9 2 4 F A
W e s t N G 1 s t c o n g 6 s . . 1914 J J
' A N A la see L A N
S p o k a i.o I n t c r n a t I s t g 5 s 1955 J - J
e i A ol s i
1 s t g 4 “j s . . 1930
1 s t c o n gold 6 s . . . . 1 8 9 4 -1 9 4 4 E-A
J
G en r e fu n d s t g 4 s .......... 1953
S t li M B g e X e r g u g 5 s . 193o A-O
L'ex A N O See S o P a o Co
I’e x A P ao 1 s t g o ld 6 s .........2 0 0 0 J - B
2 d g o ld in o 5 s ..................... 0 2 0 0 0 d a l
J
L a B i v B L 1 s t g 6 s .........1931
A
W M in W A N \v l s t g u 5 s '3 0
J
I'ol A O C 1 s t g 5 s ..................19 3 6
W e s te r n B iv 1 s t g 6 s . . . 19 3 5 A-O
G e n e r a l g o ld 5 s ................. .1 9 3 5 J -B
K au A M 1 s t g u g 4 s . . .. 1 9 9 0 A-O
J
i ’ol P A W 1 s t g o ld 4 s . . .. 1 9 1 7
I'ol S t L A W p r lle n g 3 *38.1925 J - J
6 0 -y e a r g o ld 4 s ....................I 9 6 0 A-O
B
1’or H um A Butt l s t g 4 s ./ il 9 4 t '
l s t e r A B el 1 s t c o u g 6 s 19 2 b J -B
1 s t r e fu n d g 4 s .............1952 A-O
U n P a o R R A 1 g r g 4 s . . .1 9 4 7 J - J
R e g is te r e d ..........................1947 I - J
2 0 -y r c o n v 4 s ....................... 19 2 7 J - J
1 st A ref 4 s .........................0 2 UU8 M-S
o r e R y A N a v c o n g 4 s . 1 9 4 6 J -B
O re S h o r t L in o l s t g 6 s . . 19 2 2 F-A
1 s t c o n s o l g 5 s ..................19 4 6 J - J
G u a r r e fu n d 4 s .............. 192V J -D
R e g is t e r e d ..................... 19 2 9 J D
U ta h A N o r g o ld 6 s . . l 9 2 u J J
U in N J U R A C C o See P a RU
U ta h C e n tr a l See R io G r W es
U ta h A N o r th See U n P a e itlc
U tic a A B la c k R See N Y C em
FA
e r a C ru z A P l s t g u 4 '281934 J - J
V er Vul lu d A W See M o P
V ir g in ia .Mul See S o u th R y
Va a SoutlH V’t 1 s t g u o s . 2 0 0 3 J -J
1 s t c o n s 5 0 -y e a r 5 s .......... 19 5 8 A-U
i \ a b a s h 1 s t g o ld 5 s .........1 9 3 9 fl-N
’ V 2d g o ld o s ......................19 3 9 F-A
J
D e b e n tu r e s e r ie s B ........ 1 9 3 9
1s t h e n e q u ip s ftl g 5 s . .1 9 2 1 M-S
1 s t lie u 5 0 y r g ter m 4 s . 1 9 5 4 J J
1 s t r e f a n d e x t g 4 s ___ I9 6 0 J - J
B e t A C h E x t 1 s t g o s . .1 9 4 1 J - J
D e s M om B iv l s t g 4 s . .1 9 3 9 J -J
Uni B iv 1 s t g 3*28.............194 1 A-O
X o l A C h B iv 1 s t g 4 s . . . 1941 M-S
vVaO P i t t s T e r m 1 s t g 4 s . lu d i J
X r u s t u o c e r t f s .................
2 ii void 4 s ............................... 1954 J -B
T r u s t c o c e r t t s .........................
v V a iio ii see D e i c u e a W e st
\ \ a s ii C e u t See N o r P ao
W ash O A W See S o u th e r n
W ash T e r m ! 1 s t g u 3 k s . . 1945 F-A
W e st M a r y la n d 1 s t g 4 s . . . 195 3 A-O
G en A c o n v ■- 4 s ............... 19 5 2 A-O
T r u s t C o c o r tf s ..............
W V a C e u t A P 1 s t g 6 s 1911 j - 7
W est N Y A P a l s t g 6 a . .1 9 3 1 j - j
G en g o ld 4 s ........................... 19 4 3 A-O
I n c o m e 5 s ................. .....< ( 1 9 4 6 Nov
W e st N o C ar See S o u th R y
W lie e i’g A L E 1 s t g o s . ..1 9 2 6 A-O
W h e e l B i v 1 s t g o ld o s .,1 9 2 a J -J
E x t e n A Im p g o ld o s . ..1 9 3 9 F-A
R R 1 s t c o n s o l 4 s .................19 4 9 Al-b
2 0 -y ea r e q u ip s f 5 s . .. 1 9 2 2 J -J
W ilk e s A E a s t See E r ie
vVil A S io u x b’ See S t P M A M
VVis C ell I 6 0 -v r 1 st iron 4 s 19 4 9
S u p A D u ld l v A te r m 1 s t l s ’36

i

123*8 S e p ’06
122*2 124*4
111
110
n o * 4 •i, UO
92 S e p ’02
91
90*.
89*8
8 9 7» 5 6 8 8
01*,
100*2 A u g 00
,0 0*2 191
83*4
8 0 s ■11 8 l 7s 89
119 *2 S e p '0 6
110*b 120*2
83 V,
8 3 >2
t 82*4 8 6

94*4 Sale
94*4
0 4 ‘i
8 3 *»
8 3 ,.
8 3 *8 s a le
7 7 * 2 .......... 77*4
78
VO
101 *s A p r '07

if If A 1 )8
A . Y. S T O C K E X C H A N G E
W kkk E n d in o O c t 1

Kant/c
S ince
January 1

is

U

A *»

L in o

^ >5

R anqe
S in c e
Jan u ary

\o

1.0 IV

titu n

1 1 2 E eb’n
lO J S j ........ . 104 Mar os100*4......... 10 1 -2 ■a i> ’00
_
_
_
_
_
_
__
lo j* o j ’n e’O114 k B e e '04
l l ‘i .........

104 101
101*2 101*2

......... 92
90 J ’ly 09
......... lo t
102 k i ue’oi103*«......... 08 s vpt ’08
04*2
9 i 7t* 213
110*2 nalc tlO-2 1 t 0*4 18
lt'9 ......... n o Alay’O.,
81
eO k
8 1 k i0.
o
90 *4 00 S 90*4
90 S
4
110 I l l s n o s
110 k
- 0*4 A ug III- ....
1,9*2 ....... 103 - e p ’llb
02 k Sep ’09 ...
92 S, 93
87*4 87*4 92 J ’UO'dO
8 l ** 80
109 J ’ne’O
111) 111*4 111 J ’ne’O.'
2
114*8......... 1 1 4 *8 111*#
106 107*2 107 Apr',*
68 A ug’us,
61
06
1 1 0 *8............ 1 . 0*4 AUg’O
1 15 l i d s 118*4 day’Ot
105 ^
81
85
1 10 *g J ’iie'09
1 UH^ ..
103 106
no
.......
108*4.........
1 ii8 .........
100*4 .............
01

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

107 .............
!0 7 7g 109
1 1 0 V ............
............ 08
109*4 .............

1

ttiq S

88*2 92
102 k 102*2
....

93*4 06 *g
106 1 7 3 ’*
109 1 1 0 k
70
85
85 k 90*2
I10*a 113*8
87*8 91
.....

02*2 02*2
109 110*4
109*4 1 1 1
110*2 U 4 * i
105 107
01
08
LI 4 *4 117
118*4 118*4
103*4 1 1 1

103 S e p ’09
1 1 2 Gel Mb
108*2 m -f’Ou
100 J 'l y ’o,'
100 A u g ’09
100 *2 Mill’O.'
00*8 'Ml, ’ll.
1u3 -4A u g ’00

101*2 103*8

106-4 Sep ’00
lu 8 Sep 09
1 10 V s e p in98 A ug 00
1 10k J ’lie'd.

.06*4
107 k
115
90
110*4

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

.

109 109
10 7 n o k
107*4 100*2
_
_
_

lOaV, 109*4
1 0 6 7i
100
117
03
110*4

113 Sep M-.
1 12 11 0
85 A ug',,0
05
75
LU3
Ui'
103 105
..
100 Sj \ ,»v '04
m
Sep ’00
1 IL 1 1 2 k
112 Sep '00
112
112
.................
lo - lk S e p 00
,0 3 k 105
96 Sup 'in
............ 03
92*4 96
94*, 95
94 k Sep Me
80-4 94*4
0 0 'g 91
90 '8 Sup Ml,
80*2 01*8
8 1 sa le
80
88*2
80
ol
91*, A pr’o6
91*4 91*4
10 / 108*4
107 ............ Iil8 A llg’00
b9
89
88 k ............. 89 Sup Mu
10 2 *« bale ill'2 *4 102-8 Ji.'-i lU'J 101*4
100*4 103
1 0 1 * 2 ......... 1 0 , s Sep 'o.
119 k Sale i I5 7g ,2 0 is i . l0 2 124*4
03*8 -HU
03
9 'V i - i o ,10*4 100
99 7|
98 *4 bale
OS’s
'-8 *« V 03
11 8 k 120 >*
1 ib*1* ............ i . 8 *i Sep Mi
1 13 s 118
1 1 3 s 115 1 14*4 sup ’«.'
90*4
04 • i t 9 1
94
94 S 94
04
94
94 J a n ’09
90*8 100 k
107 *»......... y0*8 Aug'ol-

112

1 1 2 *,
............. 85
103 .............
loO ............
I ll
.............
U O k 1 1-2

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

98
06

N o v ’Ot
96

*

98

06

S e p ’09
no
u 7k
............ UO
......... 03 k Aug'oi'
9-3*4 100
,..)
14 u n * i i 4 k
11.1k , , 3
102 k 105
102 s . ,i3 k sup ’06
80 10 1
J o i J ’l y ’06
l 02 k 10 2 k
95 10 1
10 . k .May 10
o / Alay'Oi'
87
87 k
......... 90
72 k
,5
794 71*4 80-g
73 *4 Sale
103 1 1 1 *,
100*4......... ll u *» Allg .10
68*8 o i k
S3 ............. 0 l S J ’UO'O.
7.3
80
78 J ’l y ’oi75-2 84
00
01*2
85
9 0 s 0 1 'a Muy’m*
55*4
46
i 42
4 4 ......... 45
45
3., 41 'i 65*4
44 ......... 44
8
8
7
7
14k
.........
8k
4
8*2
b*4
7*4 14*4
7 * 4 .........

110
97
113
loO

92 k
92 k J’no’Oi
44 82*s
84 *2
b5
00 A ug'ol
Oi
02
......... 6 0 s 68 Sup MU .. .
102
,o*2 J iy
l 12 *2 113*4 . 12 Sup o l ____ UO
•2 37
9L
91
91
92
J4 Feli 07

93*4
88
73 k
73
102
117
U0*»

108*4........ 1o7*4 Sep ’01

109

....... 92
84 -2 Sale

_
_
_
_
_

.........

in

97H

ad s.
8 6 -09 B ee Mr

95
95*-, 95
« 3 k 03* 03 7»

...
_
_
_
_

107

33*4 00

95*93 7,

95 89 k 9 0 T»
'2 02*4 95

105 V,
105*2
98*4
96*4

102 **108
101"* 108*«
93*4 100
90*4 95*»

92*4
9 2 7»
0 0 k J ’ly M
U 5 S J ’l y ’09
1 0 0 J a u ’08
47
A i n ’08
9 5 *2 S e p *09
70*4
71*4
8 6 J ’l y ’oo
90
A int’08
94*4 S e p ’09
9 0 J a n ’Oil
9 5 J ’l y ’09
119 J ’l y ’04

92
94
90
93**
91** 95**

iftl.S I I S —C o n c lu d e d .

93
96*2
77
90
90*2 101
95 1U0
73*2 7 b t8
80
81
136 165 v.
1 0 1 lOO ',
85
89A
100 1 0 6 V
93
9 9 *>
108 110*2
9 8 lo g
91*4 9 8
101*2 1 0 0 ’S
84*4 92
89
95
102*4 106
film

hu

W e e e 'r
R an qe or
l . a . u s a ->

m i)

[ H a n u la c t u r .n g «fc I n d u s t r i a l
d o s le u i C o r o — 1 c o u p .<(1903
S i 1 0 -0 0 y r o s . ( r e g ..t ( 1 9 6 3
/a -C a r O h em I s t l 5 - y r 6 s 1 9 2 3
■ V estin g h o u se E * . l i s t 5 s '31
.H i s c o l la n e o u s
A d a m s E x co t tr g 4 s ...........19 4 8
B u sh T e r m in a l 1 s t 4 s ----- .1 0 5 2
C o n so l o s ................................ 1956
C h ic J o * t Y ard c o l g 5 s . 19 1 5
D e tM * 51 Id g r i n c o m e s .. 1911
m s t i t f o r I r r lg W ks,4*2S 19 4 3
I n t M ero a n M a r in o 4 * 2 3 ..1 9 2 2
l u t N a v ig a t io n 1 s t s f 5 s . 1929
N e w u N e S h ip * B D 5 s d l 9 9 0
N Y D o c k 5 0 -y r 1 s t g 4 s . . 1951
P r o v id e n c e s e o d e b 4 s . . .. 1957
P r o v id e n t L o a n Soo 4 * 2 8 .1 9 2 1
S Y u b a W a t Co c o n g 0 s . . 1 9 2 3

et B u s A p r

eU uoM ay

M-N
MN
J -D

105"* Sale

J-J

9 4 7* S a le

M-S

A-O
J-J
J-J
A-O
M-N
A-O
FA

J-J
E-A

M-N

M-S
J-J

105

10 5 -j side 106
98
98 V 93*2
92
92*4
.......... 9 1 7*
9 5 ...........

"S3** ' V o -

9 5 ...........
7 1 S a le
.......... 8 5
9 5 ...........
94*4 9 4 7»
8 0 * 2 ..........

j D i u j ’x t , A . B u o j ' ly

1)4*2

p B us N or

92*4 05*4
08*2 77
8 4 N 88**
95**
90
08
................U f
l O p tio n UalAy

OBTOAG-O S T O O K EK O B A N G S — S to c k R e c o r d — D a ily , W e e k ly a n d I f j a r iv
O W EST S A L E PR IC ES

ST O C K ''— W Q H E 'iT A N D
Saturday
Sept 25

M onday
Sept 27

2% *2
21? *2
*2
12
12
*8
*8
*8
*108 112 *108 112 *108
30
36%
*36
301? *36
*24
25
*24
*24
25
*9
Id
10
*9
*9
8%
9
9U 10%
10%
*4012
*40% 44
*1012 44
81
*80
*80
81
*80
18
*15
18
*15
*15
50%
52
*50
50% 51
20
2D *___
•*---- * ___
70
*68
70
*68
*08
*52
55
*52
55
*52
46%
46% 46*2
40% 46%
*103 104 *103 104 *103
12>s
*82
*20812
*130
*63
*111
*113

12%
8212
212
132
65
114
144

12% 12%
82
82
*208% 212
*130 132
64
65
110% i n
14414 144%

Wednesday
Sept 29

Tuesday
Sept 28

12%
81%
*208%
*130
*64
*111
144%

21* *2
12
7
112 *108
38% *36
*24
25
10
*9
9%
6%
44
40
81
*80
18
*15
51
51
20 *___
70
*08
53%
53
46
46%
104 *103

Thursday
Sept 30

Friday
Oct 1

Last Sale 180
Apr’Ot
Sale 134
Scp’09
8
___
___
Salt 10934 S ep ’09

2%
Last
7
*7
112
I.ast
36
30%
25
*23
10
Last
S%
7
41
*38
81
Last
18
Last
5134
5112
29
Im s I
70
Last
___
53
463,s
4034
104
Last

12%
12% 12%
82
82% 621*
212 *20812 212
132 +130 132
65
65% 65%
114 *110 1101*
144'% 14434 I I 434

12%
S2I*

361*
24

Sale
Sale
5U 2

Sale
Sale
47

Sale
12's
831*

Do

p r c l_________

.IOC

- - C h ic I ty s p a r t e tt ’T ' . . .

36%
24%

11
83%>

133g 3 ,8 4 5
1,775
85

Last Sate 212% S ep ’00
Last Sale 132 Au'g’09
*65
60
110% 1101*
1423,i 143

Lowest

___ C h ic a g o & O a k P a r k . 100
2o

*65
66
no
no
1425g 143

__
___
*6

77
1 ,1 8 s

itta n yi lot previous Tear

Range sine*
Ja n 1 1909

0 JO C K S
C H IC A G O S T O C K
EXCHANGE

398 C h ic R y s p a r : c t l ” 2 ’’ . . _
301*
21%
t C b lc R y s p a r t c t f ••3 " ___
. . . . C ldc Ity s p a r t c t f ’’4 ''___
S ep ’09
7%
7 11,864 C h ic a g o S u b w a y _____ 100
75 b a n s C ity Ity & L t . , 1 0 0
*10
43
___
82
S ep ’09
D o p r e t......................... 100
—
1734 S ep ’09
M etropol W S B l c v . , 1 0 0
852
*51
5-’
D o p r o !......................... 100
20
A u g’09
.N o rth w estern K ie v ___ 100
70
A u g’OU ____
D o p r c f_ _ ................. .1 0 0
523,
52%
20 S o u th S id e E l e v a t e d . . 100
761 S t r e e t s IV S t a b le C L .1 0 0
467g
47
—
102% Sep’09
D a p r e f____________ 100

Sale 9
7%
40

Sales
01 llli
Week
Shares

M is c e lla n e o u s
A m erica n C a n ________ 100
D o p r e l____________ 1O0
A m e r i.a n R a d ia t o r ..1 0 0
D o p r e l . . _________l o o
A m cr S h ip b u ild in g ___100
D o o r e ____________ 100
A m c r T c le p & T c l e g ___

134
7
107
30
24
9

(1908)

II Ujhesi

S e p 22
S e p 21
J ne 1
J ’ne2 3
Sep 7
3- a y 3

36
79

F e b 24
Jan 8

47

J a n 14

50

Jar. 25

97

F e b 15

4 J a n 22 j
15 J a b 22
119% J ’ly 25
30 J - i l 29
13% J a n 2
29% J a n 2
52 J ’Jy i
86% M ay 18
19 M ch 8
54 J ’n e :

110 n o
♦128 130
*95
96%
*1183,1 119
HOIS 115l2

118
*128
90%
>118%
*11514

20
59
55
1%
3
321*
138

54% A n r 21
101 F e b 24
139 A u g 7

21
*20
59
*58
*54% 55%
*1
1*8
*2
3
321*
*32
138 138

119%
130
961*
119
115-%

114 11712 118 1211*
115 115-% 115% 115%
100% 10'J7S 109% 10J78
*146
*102

*1314
*20

150 *140
1021* 102

13% *13*4
21
*20

150
102%

117

117% *1101* 1171* 116% 117% 117
117
130 *128 130
Scp’09
Last Sale 128
90% 96% *90% 97
101
96% 96% ,00
+ 118% 119 *118.% 119 *1181* 119
1 .0
120
115% 110 *115% 115% 116 116
116
no
11-10 Mcll’09
119% 120
119% 120% 118 120
117% 119%
115% 116 + 1151* 1161* 110% 116% 116
110%
1095S 10J7s 109% 109% 109% n o
109% 110
/
F e b '09
*146 150 *146 150
Last Sale 145
Sep’09
102% 1021* 102 102
102 102
102
102%
11*
Apr’09

+ 128

112 S e p 13
14434 S e p 28

135g 13%
1334
13%
21
21
*20
*20

15%
21

I’lie Q u a k e O a ts C o . . 100
D o p r e f ____________ 100
U n it B o x lid & P C o . 100
D o F oil i-a .d _______
D o p r e f ___________ 100
Do F u ’l p a d . . . ____
15%
16% 5 .1 2 '
15% 16
W e ste r n S t o n e ______ 100
—
Last Sale 20
Sep’09

Inter­
est
Period

A m c r S t r a w b V 1 st O s .t - 1 . F - A
A r m o u r & Co 1 H s ___ ’ 93
1 - D
A u ro r a E lg in & C hlc 5s t o 1 \ - O
Cal & S o C h ic K y Co
F - A
1st M 5 s .........................192
C ass A v & F G ( S t L) ;>r ’1 J “ j
C ld c B o a r d o f T r a d e 4 s l 92 < f - D
C h ic a g o C ity R y 5 s ___ 1 0 .
l1 A
1 * .1
C h ic C on so l B r & M lt ? —
C h ic C on soi T r a c 4 A s 19. 2 J * [)
C h ic A u d lt o r lu m l s t eslO J^ K * A
C h ic D o c k Co 1 st 4 s . .1 9 2 6 A 0
s
C h ic J e R R 1 st M 1* 5 s . 191 VI
CI1I0 N o S h o r e E le c 6 s .F 12 A - 0
C h ic P ile T o o l 1 s t 5*.(11921 J - J
C h le U y 5 s ......................... 192 ' V “ A
C ld c I ty s 4 - 5s se r ie s “ A ’ A - 0
C h le I ty s 4 -5 s s e r ie s “ IF J - D
O hio I ty s t-5 s se r ie s “ C” F - A
F “ A
O hio I ty s coll 6 s ___ 191
F - A
C h le I ty s F u n d 6 s _ _ 1 9 1
C h ic R y s T ern C t.s 1st 5 _ - _ _
.1 - N
C h ic R I & P R lt 4 s . . 2 0 0
C o lla t t r u s t g 5 s ___ 1915 M - S
C h le T e le p h o n e 5 s ____ 1923 1 - 1)
VI - S
C om m -jn iv- E d is o n 3 s . 19
1 - J
C ld c E d is o n d el) C s.1 9 1
1 s t g 5 s . . . . J u l y 19 2 0 A - 0
A- s
D e b e n t u r e 5 s ____ 192
VI s
J
D
K a n C ity R y & L ig h t
Co 5s _______________ 101 , M - N
K n lc k ’h ’kor Ic e 1 st 5 s. 1928 A - 0
L a k e S t E l— 1 s t 5 s ._ . l J 2 . S .1 - J
I n c o m e 5 s _________ 1. 25
F eb
M c tr W S id e E l—
1 s t 4 s _______________1935 F - A
E x t e n s io n g 4 s ____ 193 : J - J
N o r th W e s t El 1 s t 4 s . 1911 M - S
N o W G -L & C o k e Co 5s *28 y - M
O g d e n G as 5 s . . . — .1 0 4 ., M - N
P e a r s o n s - l a f t 5 s ______191. ,f
I)
4 . 4 0 s ......................... ............ ■Vf * S
4 .6 0 s S e r ie s I----------------- Yt “ N
4 .8 0 s S cr e s F ----------------- \1 “ N
A * O
1'co G as L&O 1 ;t 6 s . . l 9 .
R e f u n d in g g 5 s ____ 19 1 7 M “ b
C ld c G as L& C 1 s t 5 s l9 3 7 J * .1
C o n su m G as 1 s t 5 s . 19 3 6 r • i)
M u t’l F u el G as I s t 5 s l 9 4 7 \ i “
S o u th S id e K iev 4 W s .1 ’>2 - j * J
J
S w if t & Co 1 s t g 5 s ___ 1911 j
U n io n El L oop ) 5 s . . 194 A - O
U n io n P a c ltlc c o n v 4 r ,_19 1 ' M - N
U n it e d B o x B o a r d c o l Os’ 0 _ _ _ _
G en er a l n itg o 0 s ____ ___ .1 - j
W e s te r n S t o n e Co 5 s . . l 9 0 0 A * 0

N o t ' — A corb cd In fero s

m u st

Price
Friday
Oci 1
nut

Week’s
Range or
Last Sail

A sk Low

___
193% ju I<*
____ ____

B ’ds
Sold

11

____
101%
____
103%
—
—
—
....

____
S a le
____
Sale
....
—
....
....

102
101%
100
10383
103
50
9G3j
....

____
80
J101%
95%
86%
....
I ’OlSs
....
1101

____
Sa le
S a le
90
86
92%
101%
____
101%

____
11027g
102*,
____
1100%
____
102%

____
103%
yaie
____
1007J
____
103

87
F e b ’00 ____
70
SO'
21
101%
101-k
6
95%
0 3% 10
81%
S.5% 43
92% Son ’09 ____
101% SSDt'O.i ____
101% J u ly ’09 ____
101% S ep t’09
66% A u g’08
66% J u ly ’08
103% S e p t’OJ __ _ _
102%
1027s
c
100
J n e ’08
100%
100%
2
100% A ug’09
103 Sep '09
80
D ec'08

.... ....
____ ____
1 . . . . 90
____
Sale
83
81
81%
94% 95
96
100
9034
98
99
____
103%
104
1102%
1102
1 ----1100
1—
....
175%
78
—

9/

103%
S a lt
____
102%
05
K)0%
93
....
S a le
S a le
—

J ’n c ’OU
101
4
M ay‘07
103%
36
Apr’OI . . . .
Apr'09 ____
Jan'OG ____
— . ____

9S% J 'n e’09
96 Mch'09
90 J u ly ’09
16 M ay'05
83
83%
0
81%
81%
15
94%
94%
1
98% A ug 0
96%
96%
i
1003a Mch’O'j
97 Mch 09
98 J ’ne’09
100 Meli’09
121% M ay'09
3
103%
101%
101
101
26
102% J u ly '09
102 A ug'09
94% Sept'09 ___
100 Sep ’09
95 J 'n c’09
114 Nov'()4
75%
75%
i
78 Sep ’o9
85% J u ly ’OS —

ic a d d e d t o a 11 C h ’c a g o b o n d

Range
1or
Year 1909
Low High
93%

9li7s

102
101

102%
101%

103

105

60

50

____
____
72
1007s
93%
84%
89
101%
101%
101

SOlp
102%
96%
89%
9 %
1023S
1023s
102%

102% 103%
101 103%
100% 101%
100% 102%
102% 103%

NAM E

110
102

Jan

65 Jan
lo t J a n
100% J r . .

14

37

10„

* r.j

so

Jan

Me-

T

i00

Aluy

5
9

O ct

O ct

106

.Ian

80

Jau

lit )

13034 A u g 13
00 S e p UJ
47 S e p 16

113
30
38

Jan
Jan
OH

137 A u g
421* D e c
46 J ’l y

1 19% S e p 27
130 S e p 21
100 O c t 1
120 A p r 1
1197s A u g 16

70 J a n
101% J a n
61 M el
91 Melt

1103s A u g l8
1 1 1% A u g 6
20 J a n ts
152 J ’l y 28
103% A u g 12
y i* J * n 4
16% Q c t 1
25 ,u c h l5

F e b 10

1

151 J ’l y 2 /
121% J ’ly I
25% A u g 3

6 121% S e p Z7

119 J a n fi
98% J a n 2
% F e b iy
2% F e b 20
334 M chlO
15

26% A pi
85 A p t

A u g 26

A p r 10
1 Apr 21
2% A n r 2
34 A u g 24
140 S e p 23

J a n 15
Jr.11 5

Outstand­
ing
Stock

Surplus
and
Pro/Us

t

t

la lu m e t N a t i o n a l ______
$100,000
C h ic a g o C i t y ____________
500,006
s C o m m e r c ia l N a t i o n a l. 7,0 0 0 ,0 0 0
C o n tin e n ta l N a t i o n a l ___ n 4 ,000,006
Cook Co S t a t e S a v i n g s . .
50,006
Corn E x c h a n g e .N a tio n a l 3,000,006
200,000
D i e s e l S t a t e ____________
eoo.ooo
D r o v e r s ’ D e p N a t io n a l200,000
S n g .e w o o d S t a t e _______
F ir st N a t i o n a l _________
8 ,000,000
F r s t N a t E n r le w o o d ___
150,000
-•’o r e m m B r o s B ’k 'g C o . 1,000,000
F o r t D e a r b o r n N a tio n a l 1,000.000
H ib e r n ia n B ’k ’g A s3 ’n . .
-C aspar S t a t e B a n k ____
L iv e S t o c k E x c li’g c N a t
M onroe N a t i o n a l _______
N a t B a n k o f R e p u b l i c ..
N a tio n a l C i t y __________
N a tio n a l P r o d u c e _______
N o r th A v e n u e S t a t e ___
N o rth S id e S t a t e S a v ’g s
N o r th W e s t S t a t e _______
Pra r le N a t i o n a l ________
Pra rlc S t a t e ____________
R a ilw a y E x c h a n g e ____
S e c u r i t y ________________
s o u th C lv c a g o S a v i n g s .
S t a t e B a n k o f C h ic a g o ..

U n to n S to c k Y a r d s S t a t e
98
98% A m e r ic a n T r u s t & S a v s .
95
96
C e n tr a l T r u s t Co 0 . I I I . .
73
91
h lc a g o S a v B k & T r ___
____ ____ C h ic a g o T i t le & T r u s t . .
' it iz e n s T r u s t & S a v in g s
83
80% C o lo n ia l T r u s t & S a v in g s
81% 84% Drover-- T r u s t & S a v in g s
92% 96% -'arw cil T r u s t ( '0 _______
98
99
F ir st T r u s t * S a v i n g s . .
93
98
G u a r a n te e T r u s t & S a v .
100% 100% H a rris T r u s t & S a v i n g s .
9(I34 98
Illin o is T r u t & S a v in g s
9!)7s K e n w o o d i r u s t & S a v g s .
98
100 100% L a k e V lc w T r istN oS avgs
120 122
M e r c h a n ts ’ L o a n & TrC o
10.3 104
M e tr o p o lita n T r u s t& S a v
10334 105
N o r th e r n T r u s t C o _____
102% N o r th -W e ste r n T r & S a v .
102
101% 102
P e o n lc ’s T r u s t & S a v g s .
94% 963, P u llm a n T r u s t & S a v r s .
100
102
S h e r h la i T r A S a v B a n k
92
96
'-’t o c k n ie n ’s T r u s t & S a v
U n io n T r u s t C o -----------70
80% vV estern T r u s t A S a v In g s
70% 81
W e s t S id e T r & S a v B a n k
—
W o o d la w n T r & S a v B a n k
—
0 r ices

*m<l and asKod price;, no sales wore m ade on this d ay .
f Hcpt t (closo o f ousdiess) to.
Institu tio n s. tN o p Ice Friday: latest price this weelt. aD ue Dec. 31. 5 Due June . fc
bo Increased. ^D ividends arc paid Q -J, w ith e x tra p ay m en ts Q -F. r Ai ot d ate p e c. 31
under nam e of Commercin'. N ational, w ith 57,000,000 capital; V. 80, p. 5 7 1 . c C apital to be




82

.

54 M ay22 D e c
62% D e c

97
120
87
115

10j

D ec
Aug
D ec
N ov
D ec

24 J a u
72 J a n
88% J a n

56 D e c
102 D e c
106*4 S e p

I14;%J a n
87 J a n
% J ’ly

134 J a n
160 J ' ly
1*, J a n

1% J ’ly

lit

Jan

11% ( le t

17

A pr

C h i c i g ) B a n k s a n d T r u s t C o m p a n ie s

High No.

100 M ch’07
93%
93%

sol*
12% Nuv

68

97% J a n 2
118% F e b 15

9,411 S e a r s -R o e b u c k c o m . . 100
D o p r e t ___________ 109
564
1 ,0 3 . S w ift & C o .........................100
149

27

117 J a n i>
107 Jar. 21
17% F e b 25
7014 Mch'25
117 ’ J a n 9
38 J a n 26
43 J a n 6

6 2 . N a tio n a l B i s c u it _____ 100
D o p r e t ___________ 100
i82 N a tio n a l C a r b o n _____ 100
1
D o p r e f ___________ 100
437 P e o p le s G a s L & C o k c .-lO O

C h ic a g o B on d R eco rd
BONDS
C H IC A G O S T O C K
EXOH \N G E
W eek ending Oct. 1

10 M a-24
48 J ’n e lij
61% J a n »
1 A p r 27
2% A p r 27
20 Mull 21
127 ‘J a n u

___

28 D e c
131* D e c
501* D ec.

15 ' F e b
30 O ct

M ay2
J ’n e 1
S e p 19
J ’ly 21

r

20
*58
*54
*1
*2
*32
138

38 4 O ct
20 A -.,

M ay 7

5134 J n e 19
107% J ’n e 18

3% A u g
JO A u s

1% F eb

1334 Au 73

14%
86 ”
2121*
132

*20
21
20
20
107 B o o th F is h e r ie s c o m ____
*5S
59
58
58
91
Do p r c l _______________
58
58'
54% 54%
55
55
*51
55
75 Cal & C h ic G ..n a l & D . 1 0 0
*1
JuIy’OO ____ C h ic Llrew’g & M a .t ’g ___
Last Sale 1
1%
*2
___
3
D o p r e f _______ _______
Last Sale 2% JuIy’OO
*32
321*
150 C h ic P n e u m a t ic T o o l . 100
33
33
32%
33
138 133
119 C h ic a g o T e le p h o n e ___100
*138 n o
138
138
2%
Mch’08
140 141 *140 141 *140 141
140 140
*0 C h ic T it le & T r u s t ___100
*111. 142
142
143
5 1 ' O o m m o n w ’U i- E d is o n . 100
120-'>s 120% 12.15s 12 >% 129% 120-% 120% 121
121 121
120% 121
22%
22->s
23
__ _ ___
23% 23%
22%
500 Corn P ro d R ef Co C o m __
Do
Do P r e f. .
38I9 M ay’09
127-% 128 *1271* 128
127% 12773 127% 128
105 D ia m o n d M a tc h _____ 100
127% 127%
58
58
58
5/ I 4 o7»2
58
57
57%
58
59% 1,247 Illin o is B r ic k .................. 100
57% 57%
—
*43
—
___ *43
*43
♦43
___ M asonic T e m p le ________
Last Sale 17
Scp’09

*18
25
59
50
♦54
55
*1
1>8
*2
3
3212 321*13611 138

’ ’U}flC3!e

Lowest

]

1,500,000
200,000
1 ,250,000
300,000
2 ,000.000
1,500,000
250,000
2 00,000
50,000
2 00,000
2 50.000
500,000
250,000
3 00,000
200.000
1,500,000
250.000
2 0 0,000
2 0 0|000
3 ,0 0 0 ,0 0 0
2.0 0 0 ,0 0 0
no00,000
5,0 0 0 ,0 0 0
50,000
eoo.ooo
200.000
1,500,000
2 ,000,000
200,000
1,250,000
5 ,000,000
200,000
200,000
3,0 0 0 ,0 0 0
750,000
1,500,000
200,000
200,000
500,000
200,000
200,000
21,0 0 0 ,0 0 0
1,0 0 0.000
2 0 0,000
2 0 0,000

$39,068
186,242
3,3 4 3 ,6 4 6
3,963,099
8 ,9 8 '
5,283.593
27,714
409,369
31,905
8,220.177
102.1 8
542,865
418,357

Dividend Record
Jl
1907

ill

Per-

1908

Last Paid
%

An. Dec ’08, 6
j - j lu ly ’09, 5
O ct. ’0 9 , 2
8
8
U-J O ct. ’0 9 ,2
0
6
Q-.M July '09, 1%
12
12
Q-J O ct, ’09, 3
6
6
A-O Apr ’09, 2%
8
OA •Q-J O ct. *0P, 21*
6
6
Q-J O ct. '09, 11*
12
12
Q-M J 'n e30’09,4
10
10
Q-M f'nc 30'092:*
Priv ate Ba nk
8
8
Q-J O ct. ’09, 2
0
10

6
10

807,640
8
8
10
121,561
10
432,415
104-2
03,864
4
4
8
1,134,917
8
509,923
3
6 9 ,4 8 0
67,612
2H
15.94 1
6
6
8,950
70,677
49,940
8
8
12,173
2
4
153,426
78.211
6
6
1,465,411 9 4 -1
11
7
6
174.589
c
G
46,883
65,310
0
6
2.7 5 5 ,6 5 8
8
8
81 2 ,4 3 0
7
7
89,160
1A
6
r l.2 0 8 ,019
a
4
5,331
3
506.621
10
84 -2
6
97,307
7A
215,582
____
____
2,990,694
10,254 tncorp orated
1,140,070 ____
6
8 ,297,291 164-4 164-4
44,201
6
6
3 9 ,0 *
2
4A
5,0 3 6 ,1 0 6
12
12
213.819
6
6
2.12.3,341
8
8
5 5 ,0 1 )
6
6
100.964
6
6
183,263
*8
8
20,000 Beg, b u s .J ’ly
fi
2 .651
5
1 ,2 6 3 ,0 3 5
8
201,660
0
6
64,803 Began busln:
38,514
G
0

Q-J
J-J
Q-M
O-K
Q -l
Q->
Q-J
Q-J
Q-J

O ct. 'O’j ; 2
July '09, 5
Aug
luly
O ct.
O ct.
O ct.
O ct.

1 '09, 1
’0 9 ,2
'09, 1%
’09, 1
'09, 1%
'09, 1%

Q-M lu n c '09, 1%
Jan ’08, 2
Ju ly '09, 1%
Q-J O ct. '09, 1%
Q-J O ct. '09, 3
J-I) J*ne30’U9, 2
M-N
Q-J O ct. '09, 1%
Q-J July '09. 2
Q-J O ct. '09, 134
Q-J O ct. ’09, H*
Q-J July '09, 1%
A-O Apr '09, 2
Q-J O ct. '09, 2%
Q-J O ct. '09, 2
Q-J O ct. ’09, 1%
Q-M ■July ’09, 4
1908 V .8 7 ,p.1138
Q-J O ct ’09, 2%
Q O ct. *09.4
Q-J O ct. '09, 1%
Q-J O ct. '09, 1%
Q-J O ct. '09, 3
Q-J J ’ne '09, 1%
Q-J Ju ly '09, 2
J-J July '09, 3
Q-J O c t’ ’09, 2
Q-J J u ly '0 9 ,2
12 ’0 9 V .89,p .141
J-J Ju ly '09, 2%
Q-M Sep 3 0 '0 9 , 2
Q-J J u ly ’09, 1%
ss Se p t 5 1 9 0 8
Q-J O c t. '0 9 , 1%

.M l-.

natlo n a oanns and S.-pt. 2. (opening ot business) to r S t a t *
Also stock dividend o£ 33 1-3% . nOatMtal a n d surp us t®
1008. s B ankers and Commercial N ational banks m „rgea
Increased.
•

B O ST O N

STO C K

E X C H A N G E — S to c k R e co rd . D a ily , W e e k ly a n d Y e a r ly

S H A R K P R IC E S— HOT PE R C E N T U M P R IC E >
Saturday
Sepl. 26.

A1ohdap
Sept. 27.

Tuesday
Sept. 28.

Wednesday
Sept. 29.

Thursday
Sepl. 30.

Fi id a j
Oct. 1.

Sales
of thi
Week
Shares

STOCKS
B O ST O N STO C K
EXCHANGE

Range since Jan. 1
1909.

It LQ'r.esl

'tanye for P-evtous 1
(1908)

Highest

R a ilr o a d s
IOU 4 D e c
67*8 F e b
93 J a n 13 V247g O c t 1
124*4 1247g 2,382 A tc h T o p & S a n t a F e . 1 0 0
8::ia Mcb 10414 D eo
D o p r e f ____________ 100 10034 J a :i 15 100 u n e 7
146
104*2 104*2
230
D eo
181*2
Jnt*
239*4
A
p
r
8
225
J
a
n
I
246 B o s to n & A lb a n y -------100
232
233
140 J a n
124*4 J a n 7 132*8 A p r 22 ,1211a D e c
167 B o s to n E le v a t e d ______100
*128
223 D eo
20014" F e b
235
M
c
lllt
224
J
a
n
12
B
o
s
to
n
&
C
o
w
e
ll______
100
49
230
*228
230
140 J a n
111 O ct
52 B o s to n & M a in e ______ 100 132*2 J a n 2 15012 S e p 9
149
150
1*9
150 J a n
136 F e b
I ) j p r e f_____________100 151 F e b 26 160 A p r 8
Last Sate 152 J u iy ’09 . . . .
284 J a u ' 301 N o v
301
J
a
n
9
295
S
e
p
14
B
o
s
to
n
&
P
r
o
v
i
d
e
n
c
e
.100
293
295
____ 298
300
*295 298
13 Alch
9 Mel
*295 298
22 F e b
1134 J a n 2
15 B o s to n S u b u r b a n El C o s .
17
17
17*2
*14
17*2 *14
17*2 *14
*14
f3 N ov
*14
17
45 J a n
75 F e b 3
60*2 J a n 5
D o p r e f ________________
50
73
* /2
73
73
*72
73
*72
73
*72
74
17 J a n
*72
812 N o v
141* Mol) 12
10
AtaylO
B
o
s
to
n
&
W
o
r
E
le
c
C
os
.
.
25
*
____
12
12
12 * ____
10 * ____
10
601? J a u
* ____
13 * . . . .
47ia D e c
£4 ‘ S e p 29
62 J a n 6
D o p r e f ________________
500
54
54
54
537* 54
5334
53
54 *____
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IO34 J ’l y 10
1£34
153.,
985 La S a lle C o p p e r ............25
151, 15*2
153.1 15-m 15*2 157g
1SY 10
8**8 A u g
10*4 163s
42*4
Mch
I8
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M
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M
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13
825 M ass C o n so l-------------------25
*7
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8
7*4
7*2
7*8
7*4
7*4
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734
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f-*i4 Sep
17*4 A u g 6
1234 F e b 26
5
1,255 M ia m i C o p p e r .................
10
16
1578 16
16
16
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16*8 16*8
1 0 " 16*s
15l2 N o v
7U F e b
1314 M ch 4
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10*2 10*
45 F eb
70*8 J a u 8
62
184 M o h a w k _______________ 25 157*2 J ’iy 10
02
62
62
62
62
62
63
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63
61*2 6134
1**8 .Jan
.2:- D e c
.40 A p r 6
19 F e b 11
M o n ta n a C o n so l C & C 10
S e p ’OO
Last Sal .25
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.25
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8% J a n
2518 A llg 12
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11%
12*2 1234
8034 NOV
35*4 J a n 2 ‘ 403j"Feb"
47*4 J ’ly 10
021.1 12,632 N o r th B u t t e ....................... 15
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6U4
61
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61
01*2 623S 61
6034 01
1 17s A u g 9
4*2 M ch 22
958 N o r th L a k e ($ 8 p a i d ) . 25
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28 J a n
60*2 D e o
59 A u g 11
47*4 F e b 24
5434 1,380 O ld D o m in io n -------------25
54*4 543.1 54*4
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54
54
541g 541g
77 F e b
136*2 D eo
154*4 158
1,808 O s c e o l a ________________ 25 122 F e b 21 168 O c t 1
150 1511s 151*2 153
1503, 151
150 151
150 152
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31
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31*4 31*4
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77 Feb
100 A u g
90 J a n 4
85 F e b
90
90
206 Q u in c y ________________ 25
90
90
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91
90
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8912 90
90
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3^8 N o v
27g J a n 8
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16*2 9,477 S h a n n o n '_____________ 10
16*8
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1638 167g
16*i 1634
16*4 17*4
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6212 A u g 2
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14 M ch 24
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1,474 E u p e r lo r & B o s to n M in 10
15*2
153.1 153
1573 16
16
16
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" 14*s Oct" " 26*8 N o v
18*2 J ’ly
127s A p r 27
15
15*8 1,813 S u p e r io r & P ltts C o p p . 10
15*8 15*8
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1212 12%
10*2 N o v
4% Mch
8*4 J ’n o 22 ' 16*4 J a n S
(J n 'te d C o p p e r — - - - 1 0 0
Last Sal 103.8 Sep’OS _
3 ,'34 N o v
88 A u g 12
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28
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47 N o v
37 F e b
63*2 A u g 13
44 J a n
52-1,
53
2,2-16
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5312 5312 63
53*2
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4*3 S e p
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____
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236 U ta h C o p p e r C o ---------10
50
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139 M cb IS 168 A u g 12
162
1527a 1527, 152
58 W o l v e r i n e ____________ 25
152 152 *151 163
152 152 *____ 153
38* O o t
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2*4 A p r 2:
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170 W y a n d o t ____________ 2 5
21
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2*4

H B tt
* 10 i l 2
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104
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232
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232
129 129 *129
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228
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...
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...

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104
232
232
128*2
--­
228
228
148*2 *148

124*4 *123
104% 105
232
232
128
129
228 *228
148*2
150

“jdaro pay’t of assesses called in 1909.




123*4
105
233

* Bid and asked prices.

U New stock.

» Ass’t paid. 5 Ex-stook div.

It Ex-rig at*,

a Exrdlv. and rights, /

iiOMia

Week’s
R a n g e or
L a st Sa te

Price
F r id a y
Oct 1

B O S T O N ST O C K K X G H ’G E
W e e k E n d in g O ct 1

J-J

Hill

A s k Low

93*4 Sal*

A m T e le p <ft T e l c o ll tr 4 s . 19 2 9
C o n v e r t ib le 4 s ......................19 3 0 M -8 100% 100
A m W r it P u u or l s t s f 5 s u 1011* J - J
A r iz C om Cop 1 st c o n v Os 19 1 8 -VI-S
A te n T o o & a F e g e n g 4 s . . 1 9 9 5 A -0 1003s a n le
A d ju s t m e n t g 4 s ........T’ly 19 9 5 Nov
93
95
S t a m p e d .................. J ’ly 19 9 5 M-N
93
95
6 0 - y e a r c o n v 4 s .............19 5 6 J -D 1 2 0 .........
10-yoar c o n v 5 s ........... 191
J -I)
A t l G u ll & W 1 S S l a n e s 5 s . ’5 J - J
73*4 S a le
B o sto n H le o t L c o n s o l 6 8 .1 9 2 4 9 S
B o sto n <ft L o w e ll 4 s ........... 1 9 1 9 J - J
B o sto n os M a in e 4 %s.......... 1944 J -J
B o sto n T e r m in a l 1 s t 3 * 3 8 .1 9 4 7 F -A
B u r <fc M o R iv e x 9 s ........... 1 9 1 8 J - J
102 Sale
N o n -e x e m p t 9 s ................. 1 9 1 8 J - J
S in k in g fu n d 4 8 ............... 1 9 1 0 J -J
B u tt e db B o sto n 1 s t 9 s ___ 19 1 7
Cedar R ap & M o It 1 s t 7 s . 1 9 1 9 M-N
2 d 7 b ....................................... 1 9 0 9 J -D
C e n t Voruit, 1 s t g 4 s .. M a y l 9 2 o Q -f
0 B & Q I o w a D iv 1 s t 6 s . 19 1 9 A-O
I o w a D i v 1 s t 4 s ............... 19 1 9 A-O
D e b e n tu r e 6 s ..................... 1 9 1 8 M-N
D e n v e r K x te n 4 s ............. 1 9 2 2 F-A
N e b r a s k a E x te D 4 s .........19 2 7 rt-N
8 .ft 8 W s t 4 s ....................1921 d-S
I llin o is D iv 3*28................1 9 4 9
J o i n t b o n d s See G t N o r th e r n
O hio j c Rydis Stic Y d s B s .1 9 1 6 J -J 1 0 2 102*4
C oll t r u s t r e fu n d in g g 4 8 1 9 4 0 A -0
92% ..........
Oh MU * S t P D u b D 9 s . . 1 9 2 0 J - J
Oh M & S t P W ls V d iv 9 8 1 9 2 0 J - J
O hio <te N o M ie n 1 s t g n 5 s . 19 3 1 M-N lt)2 34 ........ .
O hio * W M ic h g e n 6 s . ... 1 9 2 1 .1 -D
C o n c o r d * M o n t c o n s 4 s . .1 9 2 0 J -D
C on n * P a s s i t 1 s t g 4 s . . . 1 94 3 A -0
C u r r e n t R iv e r 1 s t 6 s ..........1 9 2 . A-O
D o t O r R ap <fc W 1 s t 4 s . . . 1 9 4 9 A -0
D o m in io n C oal 1 s t s t 6 s . .1 9 4 0 vt-N
F ito n b u r g 4 s ...........................1 9 1 6 M-S
4 s .............................................. 1 9 2 7 M-S
F r e m t E lk & M o V 1 s t 9 s . .1 9 3 3 A-O
U n s ta m p e d 1 s t 9 s ............ 19 3 3 A-O
( j t N o r C l l i t g ooU tr 4 s 1 9 2 1 J - J
97 % Sale
R e g i s l e r e d 4 s .......................i b 2 i y . j
9 7 % ........

93
93*
109*8 1 0 7
83
.
190 i
100*4

3*5

P

Mange
S in ce
Ja n u a ry 1

K O M IS
B O S T O N S T O C K E X C H ’G E
W e e k K y d ix o o c t 1

A-y Im w H ig h
137 91% 99%
109 92% 107
. ...
33
83
—
130 1 9 0
101%
I' to o
....
92**8 94 °8
93
94%
_
_
_
_ 102% 119
.... 107*8 120%
3b 09
73'-.

Week's
H ange or
Last >sale

/ ’rice
F r id a y
Oct 1
Sut

ASH Low

•AftHf-e

S in ce

la n u a r v t

H ig h

Low

r illn o is S t e e l d e b e n 5 s . .. 1 9 1 0 J -J
100 . . . .
100*4 m i
N o n - c o n v e r t d e b e n 6 s . . . 19 1 3 A
100*2 101
101 S e p ’01
l a F a lls * S i o u x C i s t 7 s . . 1917 A-O
117 A p r ’Ot
K an C C lin <fc S u r 1 s t 5 s . . . 1 9 2 6 A-O
99*2 9 7 % 9 7
97
K an C F t S * G u lt e x t 6 s . .1 9 1 1 J -D 1 0 0 ........ 100
100
K a n C F t S c o t t * M 9 s . .. 1 9 2 8 M-N J 1 9 *4 S a le 119*4
119*2
93% S e p ’O'.
K an O M * B g e n 4 s ............ 1 9 3 4
93 .........
9 3 S e p ’til
18*4 S e p ’01
A s s e n t e d in c o m e 5 s .
19 3 4
9 i *2 Side
91*2
91 <c
120*4 A u g ’09
K an C * M R y «ft B r 1 s t 5 s l 9 2 9 A-O 1 0 4 ......... 104 J ’n e 01
7 2 34
73*4
M a in e C e n t c o n s 1 s t 7 s . ..1 9 1 2 A
113% N o v ’Oe
110
F e b ’04
C o n s 1 s t 4 s .................
1912 A
101 *4 S e p ’03
100*4 M ar'09 .... 100% 100% M a in H o u g h * O n t r s t 6 s l l 9 2 5 A
115 J ’n e ’bS
101 %O ct ’08
M a s s G a s 4*23 ( r e c t s ) ___ 1929
98*4
98 %
9 8 *2 S a lt
112*2 J a n ’03
M e x ic a n C e n tr a l c o n s 4 s 1911 j - J
8 9 M a r’Otj
9 102 1 0 2
102
102
1 s t c o n s i n c 3 s ............ J a n 1 9 3 9 P l y
* 1 9 A p r ’O'*
102 S o p ’OB
2 d c o n s in c 3 s ............ J a n 1 9 3 9
l i l 6 % A p r ’O
99*2 J a n ’09 .... 99*a 99% M id i T e l e p l s t 5 s ................... 1 0 1 7 J .‘$
1 0 0 J ’n o ’Ol
M in n e G en E le c c o n g 5 s 1 9 2 9 J - J
102% A u g ’04
117 J
N e w E n g C o t Y arn 5 s . . . .1 9 2 9 F-A
104*4 104*
111 *s J ’l y ’06
N e w E n g T e le p li 6 s .............1 9 1 5 A
102 F e b ’O
"lY ’ s i " ”9*6 %
88
89
5 s.
1916 A
100 >2 S e p ’Ob
11103 O c t ’07
N o w E n g la n d c o n s g 6 s . . . 1 9 4 5 J - J
99% J ’l y ’09
99% iuO%
B o s to n T e r m 1 s t 4 s .........1 9 3 9 A-O
100 A p r ’08
N Y N H & H c o n d e b 3 *281959 J -J
108*4 A u g ’09
*2 J ’n e 09 ____ 99% 100
C o n v d e b 9 s ( c t f s ) .......... 194** J-J
141 >2 141*102 M ny’Ol)
O ld C o lo n y g o ld 4 s ................192 4 F-A
101% 102
101 A p r ’01
98% F e b ’09
98% 9s% O reg R y * N a v c o n g 4 s . . 1 9 4 9 J -D
9 8 % S e p ’(»!
90*s J ’l y ’09
90% 9 2
O re g S h B in e 1 s t g 9 s .........1 9 2 2 F-A
1 1 8 7s -v iai’Oi
R o p u b V a lle y 1 s t s f 9 s . ..1 9 1 9 J - J
105 D e c ’Ol­
101% 1 0 2
6 101% 104
R u tla n d 1 s t c o n g e n 4 % s .l9 4 1 J - J
i o ? ^ S o v ’o l
9 3 S o p ’09
91
94
R u tla n d -C a n a d ia n 1 s t 4 s l 9 4 9 J - J
102 Mai *02
18*4 F e u ’09
118% 118% S a v a n n a h E le c 1 s t c o n s 5 8 .1 9 5 2 J -J
98 *2 M ay’0 if
1 2 9 F e b ’Uo
S e a t tle E le c 1 s t g 5 s .......... 1 9 3 0 F-A 1U5 *2 109*2 105 7e 105%
103 Sep ’09
io i ' io i
T e r r e H a u te E le c g o s ___ 1 9 2 9 J -J
9
7 A p r ’O.
109 J ’l y ’09
102 100% T o r r in g to n 1 s t g 6 s ............ 1 9 1 8 M-S
102 A u g '()9
91 D e c ’07
U n io n P a o R R * 1 g r g 4 s . 1947
J
l o 2 ’a A pi ’Oil
112*4 -Ian ’03 ....
2 0 -y e a r c o n v 4 s ................... 1927 J - J
1 10*2 J ’n e ’OU
9 9 F e b ’09
" 9 0 " "9 0 "
U n ite d F r u it g e n s t 4 *2 8 . 1 9 2 3 J - J
99*4
993g
90*8 J ’l y ’09 ____ 8 7
92% U S C o a l * O il 1 s t s 1 9 s . . 1938 M-N
142 A u g ’o9
9 9 1 A u g ’Oi*
99% 97% U S S t e e l C orp 1 0 -9 0 y r 5 s . 1 9 9 3 M-N
105
1 ij5
103 *8 A p t ’Ob
W e s t E n d S t r e e t R v 4 s ___ 1 9 1 6 F-A
109*2 A p r ’09
9 9 A p r ’08
G o ld 4*2S................................. 1 9 1 4 M -S
101**4 l ’n e ’09
133 M a i’OO
133 " i'3‘3 "
G old d e b e n t u r e 4 s .............1 9 1 9 M-N
99*8 S e p ’(19
L40 A p r ’06
G old 4 s ..................................... 1 9 1 7 F-A 109*2 Sa le 100 *.4 100*2
97
97*2 1 7
96% 9 9
..’e s te r n T e le p h & T e l 5 s . 19 3 2 J -J
100*4 Salb
19 *2 10(1
97 *8
97 *8 20 9 7 'g 98% W is c o n s in C e n t 1 s t g e n 4 s l 9 4 9 J - J
*5 % A p r ’O

A-0

94
LOO
4 116*4
1*0
89*2
103*2

M-S
M-S

-0
-0
-0

N o r n — B u y o r p a y s a c c r u e d in t e r e s t in a d d itio n to t h e p u r c h a s e p r ice for a ll B o s to n B o n d s.

* N o p r ice F r id a y

la te s t dpi urn a s k e d ,

97
101
120*4
93
92*i
104

98*4 100
84'V SO

1 0 2 S *0434
102 102

-0
-0

i-J

H igh

100*4 101
.00*8 1 0 l* i

-0

97% 108*4
134
1418
101 1 0 l
9 S 7g 98%
U S ’s 119*i

i05*8 100*1
io i" io i"
1 0 2 ’.i 103*1
102% 110%
O S 's 97
120 155
102*4 1 (18*1
100*2 100*2
100*4 102*2
99 *e 100*2
9 9 '8 100%
99 100*2
93 7g 95 * .

'j F la t p r ice .

P h ila d e lp h ia a n d B a ltim o r e S to c k E x c h a n g e s — S to c k B e c o r d . D a ily , W e e k l y Y e a r ly
Sh are Prices—Not Per Centiioi Price s
S a tu r d a y
Sep t 2 5

M ondav
S e p t 27

l u e s .lag
S e p t '18

Wedncftnaxt
S e p t ‘2 9

8 4 % 81 %
108% 1 US'-. 109 109*. 1 0 3 108% io a % io « %
+13
19
19
* 18
10
*18
19
38% 38% *.......... 38% *.......... 38% * . ........ 38%
14
14
14
14
‘ 1 3 % ........
*40
41
41
41
*46% 4 6
45% 45% *45% 49
47% 48%
48% 49
43% 48%
*12% 12% *12*4 12 % 12% 12%
*69
90
69% 90
69% 69%
22% 23
*22% 23
*23
23%
*69
9 9 % *09
99%
70
70
12% 12%
.. .
*26
29% 2 0 % 29% 27%
26*4
1 1 3 118
118
118% 118 % 119
99 1 0 0
99% 100% 100% 103%
73% 74%
73% 74*4
74
74%
48
43
48
48%
47% 43%
12
12%
12% 12%
12*% 12%
27% 28%
28
28%
27% 28
83
83
83* b 831%6 S 3 16io
6%
7
7*18
7*ia 7*ia
63%
63 ^ 63%
6 3 s, 53 *1
90% 90%
90% 91 *>
90% 92%

I’ll I BADl. B Ptl IA
I n a c t i v e .’S t o c k s
A lle g h e n y V a l p r e f . . . . 5 0
A m e r ic a n C e m e n t.........6 0
40*2
A m e r P ip e M lg .......... 100
B e ll T e le p h o n e ( P a ) .lU o 121
O am brla I r o n ................... 60
49
47"
C e n tr a l C oal & C o k e .1 0 0
•Oousol T r a o ot N J . . . 1 0 0
D ia m o n d S t a to S t e e l . . 10
P r e f e r r e d ........................10
E a s to n C on E le c tr ic 6 .5 0
E le o S to r a g e B u t t . . . .1 0 0
9 0 34
P r e f e r r e d ......................1 0 0
F t W ay n o A W V .........1 0 0
G e r m a n to w n P a s s ........ 6 0
126
I n d ia n a p o lis S t ........... l o o
I n d ia n a U n io n T r ___ 1 0 0
I n s u r a n c e Co o f N A . . 10
22*2
I n t e r Bm P o w .ft C h e m 'e o
K e y s t o n e T e le p h o n e . .5 0
12*2
P r e f e r r e d .......................6 0
K e y s t o u e W a tc liC a s e .io o
L it B r o t h e r s ......................lu
L it tle S c h u y lk ill.............6 0
M in o h lll <fc S e liu y l 1 1 ..6 0
91
N H a v e n Iron & S t e e l.5
N o r th e r n C e n tr u l.......... 60
*U87,
N o r th P e n n s y l v a n i a . .6 p
P e n n s y lv a n ia S a l t .........6 0 1 0 8
il" o ’*a
P e n n s y lv a n ia s t e e l . .1 0 0
7 1 *v
P r e t e r r e d ..................... 1 0 0 1 1 6
44
P h U a Co ( P it t s ) p r e f ... 60
P h il G e m a i l & N o r r is . 6 0
P hU a T r a c t io n ................. 6 0
R a ilw a y s G e n e r a l.........10
S u s q u o h I r o n <ft S t e e l . . 5
T id e w a t e r S t e e l ............ 10
P r e t e r r e d ........................10
T o n o p a h M in in g of N e v l
U n io n T r of I n u . .........lo o
260
U n it e d N J R k < f t 0 . . 1UU
U n it T ra o P i t t s p r e f . . 6 0
W a r w ic k I r o n & S t e e l . l o
11*2 ii%
W e s t J e r s e y & S e » S h .5 o
83%
W e s tm o r e la u d C oal___6 0
08"
W ilk e s G a s db E l e c ..lO o
• B i d an d a s k e d , n o s a le s o n t h is d a y




*40
*15%
47%
12%
59%
23
70

41
49
48%
12%
(30
23
70

T h u rsd a y
S e p t 30

*35
*8 4
108% 109
*■108
19
19
18*2
38% 38% *38*2
♦ l,S7g
14

12%
28

12%
28%

41
41
*45% 49
4 / % 47%
12% 12%
90
90%
23
23
*99
70
12% 12%
27% 28%
117
118
1 0 0 101%
75
76%
*43% 48*-.
i ‘2 \
28% 28%

63%
93%

63%
91

*<9j % «**;,;
63% 63%
*02% 9 3 *

27% 28%
118% 119
102% 103%
74% 73%

P U lB A D E liP lilA

40
83
108*i
19
39
14

A sk

Bonds

P ric es are a l l " a n d
in te re st.”
A1 Y a l h. e x t 7 s 1 0 1 0 A -0

101%

A l t .ftL V K le o 4 *2S’3 3 .F -A
A m R y s c o n v 5 s 1 9 1 1 . J -D
A tl C ity 1 s t 6 s g ’1 9 . M -N
B e r g & E B r w l s t 9 s ’21 J-J
B e tlU e S t e e l 9 s 1 9 0 8 .Q-l' 117*8
C h o c .ft M o 1 s t 5 s 1 9 4 9 J -J 112%
C h O k .ft G g e n 5 s ’19 J-J 105%
C ol S t R y 1 s t c o n 6 s 19 3 2
C on T r u e o f N J 1 s t 6 s . ’33 ib 6 > ;
E<ft A 1 s t M 6 s 1 9 2 0 M -N
93
E le c <fc P e o T r s tk tr c tfs
Kq It G a s - L l s t g 6 s 19 2 8
I n d ia n a p o lis R y 4 S .1 9 3 3
i n t e r s t a t e -Is 1 9 4 3 ..F - A
L e h ig h N a v 4*28 '14.Q -J
R l t s 4 s g .........1 9 1 4 .Q-l'
105*2
G o u M 4*28 g . l 9 2 4 . Q - '
L e h V C 1 s t 5 s g ’3 3 . .J -- 109*4
L 0I1V e x t 4 s 1 s t 1 9 4 8 . J -D
2 d 7 s 1 9 1 0 ................... M -S
C o n so l 9 s 1 9 2 3 .........J-l>
A n n u i t y 9 s ................ J-D
97 y
G e n c o u s 4 s 2 0 0 3 . M -N
98
X.eli V T r a n c o u 4 s ’35 J -D
N o w C on G a s 6 s 1 9 4 8 J -D
N e w a r k P a ss co n o s 1930
N Y P h & N o 1 s t 4 s ’3 9 J-J
I n c o m e 4 s 1 9 3 9 . ..M -N
N o O liio T r a o c o u 5 s ’19.J-J
P e n n g e n 9a 1 9 1 0 . . . Y ar 101*\,
C o n so l 6 s 1 0 1 9 ........ Var
P en n & M d S te e l con 9 s.
P a .ft N Y C an 5 s ’3 9 . A - 0
C on 4 s 1 9 3 9 ............... A.(J
P e n u s t e e l 1 s t 5 s ’17 M -N
P e o p lo ’s T r tr c e r t s 4 s ’43
98
P C o lst<fc c o l tr 5 s ’4 9 M -S
Coiiifc c o l tr o s 1 9 5 1 M -N " 9 a "
K lee g o ld t r u s t c t f s . 103**4
Trust ccrtlfs 4s.
..
76
P db E g e n M 6 g ’2 0 . A -0 1 0 9
Q en M 4 s g 1 9 2 0 . . AifeO
II E x - r lg h ts .

II * 7 .5 0 paid,

94

105%

93%
66**
106
109*2

160
98
09
98*2

98*4
76*4

H ig n esi

Lange lo r IV e vio u s
Y e a r (1 0 0 8 )
Lowest

H ig h est

B a lt im o r e
.1 0 0 3 0
22
Do p r e f.
70
1 ,0 0 0
6 0 100
784
.1 0 0 i 1%
160
D o 2d p r e f ................IUU 22%
4 5 0 U n ito d R ydb E l e c t r l o .. 00
0%

21
40H
*40
*49
45
49*2
47**4 48**4 2 4 ,757
4b
*12*4 12**8
585
00*>4 90**4
23
23**4 1 ,2 3 8
9 9 7« 72*2 2 ,2 4 5
210
12*2 12*2
27
..
4 ,3 0 9
27*2
1 ,4 1 3
117*2 118
100*2 101**4 0 0 ,3 1 0
1 8 ,0 2 5
74*2 70
48
48*4 1 ,0 5 0
12*2 12% 4 ,0 1 8
10,19b
28*2 29
84
85
2 6 ,5 6 4
0%
0% 3 ,7 3 0
63*2 5 3 'u 3 ,7 4 4
92*4 9 2 34 2 7 ,2 4 1

H id

M ange Since
J a n 1 iy o 9

S ates
A C T IV E S T O C K ii
ot the
Week CFor P o n d s a n d in a c tiv e
S to c ks see below )
Shares

tr id a y
Oct l

M ar 8 42*2 M ay 1
M a rlti 8 9 M ay 18
J a n 4 L it J a n 1
F e b 26 2 1 *8 J ’n e l s
F e b 24 41 M ay 17
F o b 3 14**8 A u g l t

20
96
80

Jan
30 D eo
M ai 81 *2 D eo
J an (02 D e o
1
15 D e c
b e t 26 D ec
Jan
12 N oy

P h ila d e lp h ia

A m e r ic a n C e m e n t .......... 6(1 3 7 % A p r 13 43 J a n 1
A m e r ic a n R a ilw a y s ___ 5b 44% J ’i y r 4G3! b o o l ,'
C a m b ria S t e e l ................... 5 0 3 2 -a F e b 23 19 S e p 21
l o *10% J a n 20 12*6 J ’ly 14
100 4 3 J a n 30 93*2 J ’ly 30
100 15% J a n
2 5 34 F e b ,
D o p r e f tr c t f s .
100 53
Jan 6 71 A u g . l
k e y s t o n e T e le p h o n e
50
9 %J a u -1 15 A pi 19
B ak e S u p e r io r C o rp .
10(- 14% J a n 6 3 3 *8 M ay 8
5 0 9 9 J a n 6 121 *4 A u g 1 1
50 67
F**b23 1 1 3 S e p 21
0 0 03% F e b 2 4 7 5 ’s S e p 2 9
«UWU l J IUOU) . 5 0 4 b % F e b 24 49*4 A u g llP lilla d e lp liia E l e c t r i c ! . 26 11 % F o b 23 12*>4 Sop' 3
P liila R a p id T r a n s i t . . . 60 2 4 % J a n 5 39*2 A p t 28
R e a d i n g .............................. 60 69% F e b 23 8 9 S e p 2 1
T o n o p a h M in in g ..........
1
6% J a n lo 713i8 MarJO
U n io n T r a c t io n ............... 50 50% J a n 5 5 8 7s M ay 4
50 H4% MuylH 94 *2 F e b 0

P H IL A D E L P H IA
l ’h <fc R o a d 2 d 5 s ’3 3 . A-O
C ou 61 7 s 1 9 1 1 ........ J -D
E x I m p 51 4 s g ’4 7 . A - 0
T e r m in a l 5 s g 1 9 4 1 .Q -F
P W ifc B c o l tr 4 s ’2 1 . J-J
P o r tla n d R y 1 s t 5 s 1 9 3 0 .
R och lty .ft B c o u 5 s ’54J -J
S p a n is h -A m I r 6 s ’27 J-J
U T r a o I n d g e n 5 s ’1 0 . j - j
U n J ty s T r c t f s 4 s ’49J«fcJ
U n ite d l t y s I n v l s t c o l l t r
s f 6 s 1 9 2 9 ................... M -N
U T r a o P i t g e n 6 s ’9 7 J-J
W o lsb a cli s f 5 s 1 9 3 0 .J -D
W lk s -B G « ftE c o n 5 s’6 3 J -J
iiA I /P lJ I O K E
i n a c t i v e -S to c k s
A la C o n s C oai& I r o n . 1 0 0
P r o f ..................................1 0 0
A t la n t a & C h a r lo t te .. 1 0 0
A t la n C o a s t B (C onn)lO O
C a n to n C o ....................... 1 0 0
C o n s C o t D u c k C o r p ...5 0
P r e f e r r e d .......................5 0
G o o rg la S o u & F la . ..1 0 0
1 s t p r e f ......................... 1 0 0
2 d p r e f ........................... l o o
G -B -S B r e w i n g .............1 0 0
Bonds
P ric es are a l l “ a n d

in te re st.”
A n a c o s t ia <ft P o t 5 s ............
A t l <ft C h e x t 4 *2S '1 0 . J J
A t la n C B R R 4 s 19 5 2 5 I-S
A t l C o a s t B (C t)c tf s 6 s J -D
C tfs o f In d e b t 4 s . . . . J - J
6 -2 0 y r 4 s 1 9 2 5 .......... J-J
B a lt C P a s s 1 s t 5 s ’l l M -N
B a lt F u n d g 6 s . 1 9 1 9 5 I-N
E x c h a n g e 3 *28 1 9 3 0 J-J
B a l t ift P l s t O s m l ’l l A - 0
B 3 P eft C 1s t 4 *28 ’6 3 F -A
B a lt T r a o 1 s t d a . . ’2 9 M -N
N o B a lt D iv o s 1 9 4 2 J -D
C e n t ’l R y c o n 5 s l 9 3 2 M -N
E x tc ft fm p 6 s . 1 9 3 2 51-8

M id

A sk

32*a Mai
42 *4 M at
2 9 7g F eb
8*2 J a n
24 >2 F eb
3*2 J a n
19*8 J a i.
i 'i i i a n
3% F eb
78*4 J a n
52*8 F e b
a l^ o J a n
3 4 *2 .Mai
5 *q Feb
112*8 J ’Ub
4G31e F e b
3 7g J a n
1*44*2 j ’ue
73*8 J a il

BAB Tl.ll DUE

C b a s C it y R y l s t 6 s ’2 3 J J
......
Cliaa R y G & E l 5 s ’9 9 M -S
io i"
C h ari C eft A 2d 7 s ’1 0 A-O
120
C ity & S u b 1 st 5 s . . ’2 2 J -D
100
C ity ,ft S u b ( W a s ) l8 t 6 s ’4&
Coal (ft 1 R y 1 s t 5 s ’2 0 F -A
98
100
Col ifeG rnv 1 s t 9 8 .1 9 1 9 J-J
104
C o n so l G a s 9 s . . . 1 9 1 0 J -D
6 s ...........................1 9 3 9 J -D
7 9 " Gadb A la 1 s t c o u 5 s ’4 5 J-J
G a C a r & N l s t o s g ’29 J-J
86% 88
G eo r g ia P 1 s t 9 s . . . ’2 2 J-J
GaSodfc F la 1 s t 6 s 1 9 4 5 J -J
89
" s i " G -B -S B r e w 3 -4 s 1 9 5 1 M -S
102%
2d in c o m e o s 1 9 5 1 M -N
..........
K u o x v T r a c 1 s t 5 s ’28A -G
B a k e R E l 1 s t g a 6 s ’4 2 M -S
30
40
M acon R y d s B t l s t 5 s ’5 3 J-J
70
80
M e m p h is S t 1 s t o s ’45 J-J
5 1 e tS t ( W a s b ) ls t 5 s ’2 5 F A
M t V er C ot D u ck 1 st o s.
235
90
95
N p t N<fcO P 1 s t 6 s ’3 8 M -N
9
N o r fo lk S t 1 s t 5 s ’4 4 . .J -J
7
20% 21
N o r th C e n t 4 *2 3 1 9 2 5 A-O
30
S e r ie s A 6 s 1 9 2 9 . . ..J - J
96
93
S e r ie s B 6 s 1 9 2 9 ___ J-J
72
77
P itt U n T r a c 5 s 1 9 9 7 .J -J
2% P o to V a l 1 s t 5 s 1 9 4 1 ..J -J
S a v F la (ft W e s t o s ’3 4 A-O
S e a b o a r d A B 4 s 1 9 5 0 A-O
S ca b db R o a n 6 s 1 9 2 9 . J J
102% 103
S o u th B o u n d 1 s t o s . . A-O
104
U E l LdfcP 1 s t 4 *28’29 M -N
94*2 95*4 U n Ry<fe E l l s t 4 s ’4 9 M -S
105
107
I n c o m e 4 s 1 9 4 9 .........J -D
89*2 9 0
F u n d in g 5s 1 9 3 6 ...J-D
93
Va 51 id 2d sor 9s ’ll.M -S
100*2 i o i * '
3d series 9s 1910..51-S
105
107
4 'th se r 3-4-os 1921.51-1
98*4
98
5th series 5s 1929.51-S
102
103
Va (State) 3s n e w ’32.J-J
9 3 * i 96
Fund debt 2-3sl991. J-J
110*v 11 1*4 W est N C cou 9s 1914 J-J
114
115
Wes Va C& P 1st Og’l 1 J J
109
111
WU & Weld 6 s .. 1935.J J
111

43
D eo
49 '2 N o v
40*2 D e o
11*4 D ec
47 *2 D ec
19**8 D eo
59*2 D ec
9 M ay
17 D e c
97% D e o
7G**4 D e c
66ils D eo
44% D e c
12**8 N o v
25 *2 D e c
71l l is D e c
9 *8 A p r
59*4 A p r
9 4 34 D eo

H id

A sk

100
90
108
1 0 3 -.
102
109
10U%
111*.
106*,
1U5
112
108 \
46
14
105
110
95
99
105
80%
109
111*4
111*4
105
105
112*2
90%
107
106
93
87%
68%
84%
103
105
105
103
90
91
107
101%
111%

91
109
104
(02%
112
101%
105*%
106 %
115
i()9%
45%
14%
107
98
100
80%

109
107
109
108
94
87%
68%
85

109
102%
113%

t *12% p a id , t $13% p a id . « * 3 5 p aid . ^ R e c e ip t s , b 5 2 5 p a id . * $ 3 0 p a id . d $ 1 2 % p a id .

T R A N SA C T IO N S A T T H E N E W Y O R K STOCK E X C H A N G E
D A IL Y , W E E K L Y A N D Y E A R L Y .

Week ending
Oct. 1 1909.
Satu rd ay . . . . . . . . . .
M o n d a y ____ . . . . —

Stocks.
Shares.

Par value.

Railroad
&e.
Bonds.

— H O LID AY—
S 3 ,482,000
$ 6 3 ,890,400
5.72 2 .5 0 0
102,635,500
6 .3 6 9 .0 0 0
123,351,600
5 .2 5 2 .0 0 0
74 ,9 8 3 .6 0 0
4.8 2 7 .5 0 0
8 6 ,9 6 4 ,9 2 5

State
Bonds.

& T e le p h o n e B id
80
C e n tr a l & S o A m c r _ _ lC 0 110
lo m m ’l U .i T e l ( N Y ) . 25 110
65
‘Im p & B a y S t a t e T e l . 10c
43
F r a n k lin _______________10 0
G o ld A S t o c k T c l c g . 100 110
.1 Y & N J T c lc p h — S ee S t k E x c
• N o r t h w e s t e r n 'I'e le g . 50 112
75
F a c liic A A t l a n t i c -------25
92
So u th ern A A t l a n t i c . . 25
f e le g r a o : i

e A tn e r T e lc g C: O a o le . 100

3
V . S.
Bonds.

Ash

85
12 j
120
75
50
120
list
120
80
93

B id
and M sre
3
P r e f e r r e d __________ 100
19
D e b e n t u r e 4s 19 1 A AO 1 34

cote ^
, C 3 & :c J

V o lu m e o f B u s in e s s a t S to c k E x c h a n g e s

C oll tr 4 s 1 9 5 7 r e ts J A J / 22
Exc
14I2
8 z12
P r e fe r r e d _________ 1 0 0
s*714
C
127*
e
L
*78

24
list
145}
8313
Ti­
ns
I 's

C

In d u jtr

C
>C

r

l
F e r r y C o m p a n ie s
06
08
90
1 s t M : f g 5s 1 9 5 0 . J - l)
95
11 & N Y 1 st 6 s 1 9 1 1 . J -J
22
i7
34
33
E le c t r lc B o a t ................... 100
N Y A E R Ferry s t k . 100
70
55
65
60
P r e f e r r e d __________ 100
1 s t 5s 1 9 2 2 _________M -N
____
10
98
93*2 E
______ N Y A H o b 5s M a y ’4 6 . J - D
____
70
P r e fe r r e d _________ 10 0
H o b F y 1 s t 5 s 1 9 4 6 Al-N 1061­ 107*2
S tk H x list
95 10..
e
T o t a l ........................... ' 4 ,9 3 5 , 6 6 ) :$ 4 o l, 829.0251 S25.053.000l
8017,200l 81.000 N Y & N J 5s 1 9 4 0 ____ J-J
93 100
4
?i
38
1 0 th & 2 3 d S t s F e r r y . 1 0 0
72
e P r e fe r r e d _________ 1 0 0 10212 105
67
1 st m tg e 5 s 1 9 1 9 . . J - D
Jan. 1 to. Oct. 1.
\V“Ck ending Oct. 1.
*0*2
Saifs at
30
6-'>s
3.
G
3 U n io n F e r r y s t o c k . .1 0 0
*5g
1
New York Stock
95
07
Cl
c
1 s t 5s 1 9 2 0 .............. M -N
1908.
*9
Exchange.
9*4
G
210 220
G
o
r
t-T
e
r
m
N
o
t
e
s
S
h
130.333,794
4,905,0601
2,450,774
1 5 7 ,497,938
S tocks— N o. sh ares___
9812 99
e J a c k e n s a c k W a t e r Co
A m C ig s e r A 4 s ’l l . . A l - S
89
91
Par v a l u e __________ 8 4 51,829 ,0 2 5 $ 2 2 2,594,300 $ 1 4 ,3 8 9,144,450 $ 1 1 ,7 5 7,302,375
9712 98
R e f g 4 s ’52 o p ’1 2 . J A j
S e r II 4 s M ch 15 ’ 12 Al-S
$70,100
$100,200
$500
$ 6,400
50
B an k shares, par_____
55
•\m T e l & T e l g 5s ’ 1 0 . J -J 100l8 li)03g h
9
Bonds.
11
100‘g
E
10012
$409,200
8457,620 A tla n C o a st L 5s ’1 0 . Al-S / 6 ,
81 ,0 0 0
...........
20
25
G overnm ent b on d s___
P r e f e r r e d __________100
Ctn H a m & D U iJ s ’0 8 .M - S
2
9
,5
59,400
7
0
,6
30,000
$017,200
$502,500
68
68
S ta te b o n d s __________
1 s t g 5s J u n e 1 ’2 2 . J -D
97
971*
Col
t
r
g
4
s
1
9
1
3
____
J-.I
1 ,0 01,305,100
25,6 5 3 ,0 0 0
14,027,500
627,786,200 O C C & S t L 5 s , J u n e ’l l
R U . and m lsc. b o n d s .lO lij 1U112 Ele c k e r -J o n e s-J e w e ll Mill
1061, I03l2
1 s t 6 s 1 9 2 2 ................ Al-S
$398,883,820 E rie 6 s , A p r 8 1 9 1 1 . . A - O 103*12 104* E
31
30
T otal b o n d s_______ $26,271,200! $ 1 4 ,5 3 0 ,0 0 0 $1,031,273,7001
tn te r b R T g 6 s 1911 M -N
100
E
99G
KC R y A L I g h t 6s ’1 2 .M - S
D A IL Y T R A N SA C T IO N S A T T H E BO ST O N A N D P H IL A D E L P H IA
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993g 100
L ack S te e l 5 s g 1 9 1 0 . A l-S
E X C H A N G E S.
83j "o’ *
L a k e S h A M S o 5s ’10 F -A 10018 1003g
40
38
P r e f e r r e d ___________100
L ou & N a sh g 5s ’1 0 . Al-S 10012 lOlFg
100 n o
Philadelphia.
Vtex C e n t 5s J u ly 1 1 9 1 0 100 100*2 t
Boston.
____
70
1001g 1003g ■> I n g e r s o ll-R a n d c o m . 1 0 0
M ich C e n t 53 1 9 1 0 . . . F - A
Week ending
.
97
e P r e fe r r e d ..................... lo o
9 9 *4 99'8
Bond '
Minn & S t L g 5s ’l l . F - A
Listed I Unlisted
L ined Unlisted 1 Bond
Oct. 1 1909.
150
lOOIg I003g n t e r n a t ’l lia n k ’g C o . 1 0 0 140
N Y C e n t 5s 1 9 1 0 ____ F -A
shares. ] shares.
sales.
shares. shares. | sales.
N Y C L in e s E q p 5s ’1 0 -2 7 5414 /o 3% 1 i t e r n a t ’l M e ' Mav — See S tk E x 1s t
$35,000 M Y N H A H 5s ’ 10 - ’l 2 100l2 102*2 f ite r n a t lo n a l N i c k e l . .1 0 0 113 117
2,476
9,221
$ 36,000
8,799
14,010
S a tu r d a y _________. . .
87
00
P r e e r r e d ___________ 100
48,400 V orf A W e s t 5s 1 9 1 0 M -N 10012 100
16,077
3 5,558
52,000
18,044
M onday_____ ________ 43,745
90g 91<2
1 st g 5s 1 9 3 2 _____ A AO
37.000 P a R R 5s M ch 1 5 ’ 10 Al-S 100*2 10034
28,927
40,548
2
21,000
20,084
T u e s d a y _______ ____ 39,448
11
13
See
S
t
R
jS
t
ite r n a t lo n a l S a l t ____ 1 0 0
23,356
55,100 P u b lic S e r v ic e C orp 5 s—
3 1,314
124,000
17,462
29,893
W e d n e s d a y . . . . . ___
60
09
9912
1 s t g 5s 1 9 5 1 ............... A - 0 / 54
60.000 S t L A S a n F r g 5 s ’l l J A J
17,058
32,965
102,400
23,068
14,457
T h u r s d a y _____ . . . . .
71;
10
9
6
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31,404
3
2.641
4
n
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F
A
A
51,500
24,089
33,19.
Friday ____ . . . . . . . .
95 105
P r e f e r r e d ___________ 100
S o u th R y g 5s 1 9 1 0 . .F - A 100*g 1003g
109
111
1 s t 6 s 1 9 4 8 ............ . . J - D
119.358 $380,050 S o u th e r n R y Cs 1911 .A l-N 100 10lll4
102,9351 $586.9001 182,247
T otal ......................... 183,361
133
T id e w a t e r 6 s , 1 9 1 3 , g u a r 10214 1023j n te r n t S m e lt A R o g l o o 1 )0
W e s tln g h ’c E l& M 6 s 1 9 1 0 10014 10.6g J in e s A L a u g h ltn S t e e l Co
IO234
1 st s f g 5s 1 9 3 9 ..A I - N
O u t s i d e .S e c u r i t i e s
*6*6*" 59
I a c k a w a n n a S t e o l ___ 100
R a ilro a d
f a n s to n M o n o t y p o ..
2U * lr1 4 183s
A tch T o p & S a n ta F c —
A ll b o n d or* e s are im w “ a n d i : . t e r ; s t ” e x c e p t w h o re m a r k e d “ f . ‘
2. 0
La w y e r s ’ M tg e C o ____ 10o
C o n v e r t 4 s — S ee S to c k E x c lis t
2814 •Leu A W ilk e s -B C oal 50 120
28
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100 11*0
53
l
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Bid A sk
P r e fe r r e d (w l ) ____ 1 0 0
B id A sk
S tr e e t R a i w a y s
S tr e e t ( { a ir w a y s
08 103
P r e f e r r e d ___________ 100
P u b S e r v C orp N J (Con)
C h ic P e o A S t L p r e f ._ 1 0 0
N ew Y rk C it j
___
130
____
-----e
240
250
D e p o s ite d s t o c k _______
R a p id T r a n S t R y .- lO O
30
15
B le c c k S t & F u l r s t ir . 10
25
40
____
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106
U n d e p o s it e d s t o c k ____
1 s t 5 s 1 9 2 1 ............A -O
60
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B ’w a y Surt 1 s t 5 s g u 1924
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P r e fe r -e d _________ _ 5C C2214 *223g
N o H u d Co R y 6 3 ’14 J-J 105 10612
e C c n t ’l C r o s s t’n s t k . .1 0 ,.
no
115
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5 s 1 9 2 8 ...................... J-J 105
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90
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P it t s B e ss A L E -----------50 *33
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♦68
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E x c list
95 100
t
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c S c r ip 5s 1 9 1 4 ____ '-A / 45
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30
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e S c r ip 6- 1 , 1 ------ . - A / 95 100
80
82
77
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c P r e fe r r e d _________ 1 0 0
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236
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I n t e r - M e t — Sec S t .. E x c h .ilg.. list
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68
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109*2 102
I n d u s tr ia l a n d A lisc c l.
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N in th A v e n u e s t o c k ..lo t ,
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2414
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N ew Y ork
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S e c o n d A v e n u e s i- o l:_ lo <
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5 *225 340
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fo n t U n G as 5s ’2 7 . .J - J 102 103*2
96 100
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|
C oa G as (N Y) — See S tk E x c lis t
77
C o n so l 5s 1 0 4 ............1 - / / 74
44
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—
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e S i x t h A v e n u e sto M c .1 0 '
.0
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s f 5s 1 9 3 6 — S e e S to c k : E x c list
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85
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1 s t c o n s o l 5s 1 0 4 8 . .J - J IOD4 10:12
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N Y A E R U a ’ 1 s t 5s ’44 J-J 104 105
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) 226 232
1
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C o n so l 5s 1 9 4 5 ---------J-J
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T a r r y VV F & M 5s 1 J2 / 60
160 170
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1
35
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N Y A R ic h m o n d G a s 1 0 0
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97 101
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j tk E x lis t
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20
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99
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u e e u s Co A S t T—
55
58
P r e f e r r e d ___________ 100
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5*4
B r o o k ly n U n G aa— S e e S tk E x c list
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:S ta n d a r d O il o f N J . . 1 0 9 698 702
J 40
1 s t 5s 1 9 4 7 — See S to c k E x c list
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)
98 100
:S w ift A C o— S pc B o s t S tk . E x c lis t
94
00
95
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5s ’3 6 . J-J
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C o n e y Isl * U k ; y n ..l O t
100 10034
1 st 5s 1 9 1 0 -1 ! 1 4 . . . J - J
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0
334
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C o n su m e r s L H A P o w —
1 st o ils g 4S I 0 4 J . . J - .
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____
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27*2 29
5 s 1 9 3 8 ________ _____ J 1) 1 0
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____
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75
77
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321j
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9 »101 1 .0
99 102
Gr R a p 1 s t 6s ' 1 5 . F -A
95
90
N W ’b g A F la : 1 s t e x 4 U
69
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$ tk K_ ISt
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102 107
S t e in w a y 1 s t Cs 1 9 2 2 . . J - .
.
1 s t p r e fe r r e d _______ 100 1 112 115
0 123
21
30
I n d ia n a L ig h tin g C o . .1 0 0
Ollier C ities
114
2d p r e f e r r e d . . . ___ 100 1 112
68
1) 125 130
70
4 s 1 9 5 8 o p ________ F -A
B u ffa lo S t r e e t R y —
66
0 270 •277)2 U n it e d U k N o t e C o r p . 50, *52
25
40
10712 10812 i n d la n a p o lis G a s ______50
65
P r e f e r r e d . ....................... 501 *53
1) 122 125
feO
90
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)
80
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10
____
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5
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104
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B u tt e C o a litio n M in in g 5 *25 G 26
97 100
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35
0
212
4
103
P r e f e r r e d ........................1001 29
M
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74
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65
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86
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0 130 133
j C o n c 5s 1 0 4 8 ___ J -D 106> s 107*2
list
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....
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9
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104 106
116
P r e ie r r c d ___________ 1 0 0) n o
____
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60
65
106
5s 1 9 3 8 ........................ A AC.
86
9014
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3
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P a c ific G as A E . c o m . 100
61*4 62
1 0 /L
Col tr 3 t 5s ’51 o p t ’l l 1 11434 1151s
15
90
0
10
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Col tr s f 5s '51 n o t o p tt 114341 *16*8
72
90
M 68
95
P a t A P a s G a sA E Ie c .lO O
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U S T it G u A l n d o m . , 1 0 0) ____ 60
0 650 600
e C on k 5s 1 9 4 9 -----M -S 101 10212
5434
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5 4 14
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64
0
60
93
C ity I n v e s tin g
97
G en M g H s 'i
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....
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t
94
95
W e s tc h e s te r A B r o n x T itt
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....
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0
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129
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50
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W e s tln g h ’30 A ir B r a k e . 50) *142
0
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N a r a g a n (P r o v ) El C o . 50 *z 9134 94
4
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70
1 s t g 4s 10 , 9 _______ l- n
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P e r s h a r e , a E x - r lg h tc . I D a s l s . c S e lls o n S t k . E x . , b u t n o t v e r y a c t i v e , f F la t p r ic e , it N o rn , s S a e p r ic e , x E x - d t v . v E x - r ig h t s . K Nl ee w
w ..to

W ednesday ________
T h u rsd ay____________
F r id a y _______ . . . . . .

704,715
1,129,825
1,390,546
805,431
935.143




$178,000
88 ,7 0 0
142,000
55,000
153,500

-0

§1,000

Investment and Ilailroad lutelliqeuce.
RAILROAD

GROSS

EARNINGS.

The following table shows the gross earnings of every STEA.YI railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from J u ly 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with Ju.y, but covers some other
period. T h e r e tu r n s of th e street r a i l w a y s a re b r o u y h t to g eth er s e p a r a te ly o n a s u b s e q u e n t p a q e .
la te s t Gross learnings.

no AD S.

W ent Or
M o n th .

A la N O S T e x Pa
N O & N E a s t __r A u g u s t ___
A la & V lc k s b ___ r \ u g u s t ___
V ic k s Shv & P a c r \ n g u s t ___
A la T erm & N o r th Au u s t ___
IC A tc h T o n & ,S F' A u g u s t ___
A tla n ' i 13 m & A 3 d wlc S ep
A t la n tic L - a s t Lb. A u g u s t ___
B a lt im o r e & O h l o . . V u g u s t ___
U a n gor & A r o o sto o l A u g u s t ___
B o .'e f o n t e C e n t r a l..
B o. o n & .M aine___ i Au i s t ___
B r id g e to n & S a c o i Ju'v
llu ir R o c h & P i t t s . i id w k S e p
DuITalo & S u s n ___ Tuly _____
C a n a d ia n N o r th e r n . id w k S e p
C a n a d ia n P a c ific ___ id w k Sep
•.il w k S ep
C e n tr a l o f G eorgia
C e n tr a l o f N e w J e r . \ u r is t —
C e n tr a l V e r m o n t ._ r l i i i y ___ _
C h a tta n o o g a S o u th 2d w k A ug
C h esa p e a k e & O hio id w k S ep
O h c ste r lle ld & L an e f t i n e _____
C h ic a g o <ts A lto n R y id w k S ep
C h ic B u rl & Q u ln c y r f u l y _____
C h ic a g o G re a t W c~ t 4 th w k A u?
C h ic I n d & I .o u l s v . 3d w k S e p
C h ic In d A So lit h e n —s e a N ew
O hio MI'.w & S t P au l l u l y ____
C ld c & N o r W e s t , . i - A u g u s t ___
C h ic S t P M & 0 . . r A u g u s t ___
la v _____
C h ic T erm T r a n s R i
C ln I la m & D a y . . r J u ly ...........
( le v Cln C ldc A S t I — ee N ew
C o lo r a d o M id lan d . t In ly ...........
h C o lo r a d o A S o u t h . id w k S e p
C o lu m N c w b A L au l u l y _____
C o p p e r R a n g e _____ T i l l y _____
C o r n w a l l ___________ \ u g u s t ___
C o rn w a ll A L e b a n .
C u b a R a ilr o a d _____ T u l y _____
I D e la w a r e A H u d . L i l y _____
D e l L a c k A W e -R - .r A u g u s t ___
D c n v A R io G ran di Id w k .Sep
D e n v e r N W A P a c . 3d w k S ep
D c t T o l A I r o n t S y Id w k S ep
A n n A r b o r _______ l I w k S e p
D e t r o it A M a c k in a c Ul w k S p e
D u l A Ir o n R a n g e . r l u l y ...........
D ul S o u S li A A tlan d w k S e p
U i v i s t ___
151 P a s o A S o u W _ .
E r i e ................................ A u g u s t ___
E v a n sv fi e A T i r<
t u i e — Set
F a ir c h ild A N o r F._ l r » y ............
F o n d a J o h n s A G lov \ u g u s t ___
G eo r g ia R a ilr o a d . . A u g u s t ___
^0111
G eo r g ia S o u t h & I i —
G r a n d T r u n k S y s t . id w k S e p
Gr T r u n k W e s t . . id w k S e p
D e t Gr H a v A Mil Id w k S ep
C a n a d a A t la n t ic .
G r e a t N o r th e r n S y s t A u g u st - G u lf A S h ip I s la n d .
H o c k in g V a lle y ------- f u ly _____
I llin o is C e n tr a l------- A u g u s t ___
I n t e r n a t A G t N o r . Id w k S ep
a I n t e r o c e a n lc M e x . I d w k S e p
I o w a C e n tr a l_______ id w k S e p
K a n a w h a A .M ic h .. 1111v ............
K a n s a s C ity S o u t h .
K C M ex A O r ie n t . 2d w k S ep
—S ee Yew
L a k e E v e A W est'
L e h ig h V a d e y --------L e x in g to n A H a s t . . fill- ............
L o n t I s la n d ------------- Au. ist —
L o u is ia n a A A r k a n . ! ul V ............
L o u ls v H en d A S t L f u ly ............
L o u is v ille A N a s h v 3d w k S e p
M acon A B lr m ln g ’m A u g u s t ___
M a in e C e n t r a l -------r lu ly _____
M a n ls t iq u e _________ A u g u s t ___
M a r y la n d A P e n n . . A u g u s t ___
a M e x ic a n I n t e r n a t . l l w k S ep
a M e x ic a n R a i l w a y . 3d w k S e p
a M e x ic a n S o u th e r n ■t w k S en
iN , l .
M ice an C e n t r i —
M in eral R a n g e _____
M Inneap A S t L ou lM lnn S t P A S S M l
C h ic a g o D v is io n /
M issou ri K an A T e x A u g u s t ___
Mo P a o A Iron M ti
C en tral B r a n c h ./ 3d w k S ep
b M o b ile J a c k A K C W k S e p 11
N a s h v C h a t A S t L . u ly _____
a N a t R y s of M exico >d w k S e p
N e v a d a -C a l-O r e g o n . I l w k S e p
N e v a d a C e n tr a l____ AMkilst

J u ly 1 To Latest D ate.

Current
Y ear.

P revious
Y ear.

$

$

2 6 3 ,0 4 1
2 1 2 ,0 4 4
1.30,944
1 1 3 ,3 8 0
110,35(1
1 0 6 ,2 6 8
6 ,4 6 0
4 ,0 3 8
3 ,9 5 9 ,8 3 9 7 ,4 9 9 ,0 8 5
3 0 ,0 1 7
4 6 ,6 2 0
t , 7 9 4 ,5 6 2 1 ,5 7 5 ,5 7 4
7 ,5 0 2 ,6 2 9 5 ,8 2 5 ,1 2 4
2 2 6 ,0 9 1 1 0 5 ,3 5 2
..,3 8 5
5 ,0 3 3
3 ,9 5 2 ,5 3 3 3 ,5 1 9 ,3 9 1
5 ,8 9 5
5 ,3 6 9
1 5 2 ,7 1 1
2 0 1 ,3 9 3
170,1,33
2 0 2 ,0 0 0
2 0 9 ,7 0 0
2 7 0 ,8 0 0
1 ,8 8 5 ,0 0 0 1 ,4 7 1 ,0 0 0
2 4 6 ,0 0 0
2 5 0 ,4 0 0
2,2 9 7 ,9 .3 1 2 ,1 5 1 ,9 4 2
3 2 6 ,9 8 4
2 8 8 491
1 .6 4 0
1 ,0 1 2
66.3,0,36
53.3,692
3 ,3 9 2
.3 083
3 1 0 ,5 2 9
3 1 5 ,0 2 5
3 ,8 2 5 ,8 0 8 5 ,2 7 1 ,1 6 .3
2 6 2 ,4 1 5
273 4 2 2
1 1 1 ,065
1 1 7 ,2 5 0
York Cen irp* •
5 ,2 1 0 .4 5 7 1 ,6 5 2 ,4 0 9
6 ,6 0 4 ,7 5 6 5 ,7 8 3 ,2 7 3
1 ,2 2 0 ,0 1 8 1 ,0 9 8 ,5 8 0
7 7 ,5 2 3
: i7 ,186
6 6 4 ,8 2 3
7 5 5 ,0 5 0
Y ork e'en *al.
1 9 3 ,3 4 8
2 0 0 .0 7 1
3 0 4 ,6 1 6
3 2 6 ,2 7 6
1 7 ,2 4 4
19.72.3
7 5 ,8 0 0
7 7 ,9 2 1
1 5 ,1 1 7
5 ,4 5 2
3 9 ,1 1 1
2 2 ,9 9 9
1 6 2 .4 2 9
153 786
1.5 8 6 ,1 .3 8 1 ,4 8 0 .0 2 8
2 ,8 8 7 ,1 9 8 2 ,6 1 6 ,3 7 0
4 5 4 ,6 0 0
5 0 2 .3 0 0
2 1 ,9 6 6
1 5 ,1 0 6
.34.876
.38 ,3 2 0
3 7 ,2 0 0
4 1 ,6 4 7
2 5 .1 4 6
2 1 ,5 3 6
0 8 1 ,9 8 9
1 ,3 5 4 ,3 0 6
6 3 ,8 1 0
7 7 ,0 7 1
5 0 9 ,4 3 3
5 8 2 ,8 5 0
1 ,5 5 9 ,7 3 4 4 ,3 3 8 ,6 9 2
ito e k i s ia n d S y st
1 ,7 8 1
1 .5 6 4
7 9 ,3 8 0
8 5 .7 5 4
2 2 6 ,2 5 0
2 0 5 ,6 0 1
tern ita l v a y .
9 3 3 ,2 1 3
8 5 5 ,1 9 2
1 0 3 ,9 8 3
1 2 2 ,7 8 2
4 3 ,4 9 7
3 6 ,3 8 2
5 0 ,6 6 0
.38,635
5 ,4 1 9 .3 0 2 1 .4 6 IM 7 2
1 5 5 ,9 3 0
1 3 1 ,1 1 3
5.31,260
5 3 0 ,5 2 1
5 ,0 5 8 ,5 7 1 1 ,6 0 2 ,0 1 9
2 0 0 ,0 0 0
1 8 1 ,0 0 0
1 1 0 ,3 9 7
113,22.3
6 9 .0 0 7
05,6.30
2 1 3 .9 9 4
2 0 1 ,9 0 7
7 5 6 ,5 8 0
7 4 3 ,9 1 8
2 5 ,1 4 4
1 7 ,8 3 8
York i 'en
a l.
3 5 ,8 5 2

lnc.XZ
1 0 0 .0 9 1
8 3 ,9 0 5
0 8 7 ,2 0 0
1 0 ,4 8 3
7 9 3 ,8 3 5
3 .5 4 7
3 7 .3 7 0
1 3 3 ,0 2 7
1 2 1 ,6 0 0
2 5 ,2 4 0
ork C entr
1 5 .9 0 9
1 2 3 .6 6 8
6 1 9 ,0 9 0

C urrent
Y ea r.

P revious
Y e ir.

S

5

5 0 3 ,8 5 0
2 5 2 .2 7 6
2 1 6 ,6 1 8
1 1 ,2 6 1
1 0 ,7 0 2 ,1 1 1
5 1 5 ,8 5 4
3 ,6 5 7 ,6 0 3
1 4 ,4 5 3 ,5 0 1
4 4 5 ,1 3 5
8 ,5 7 4
7 ,6 7 4 ,9 0 0
5 ,8 9 5
2 ,1 9 0 ,0 5 7
2 0 2 ,0 0 0
2 ,3 5 1 ,5 0 0
1 9 ,9 5 2 ,0 1 5
2 ,4 5 1 ,5 8 3
4 ,4 9 .3 ,9 4 1
3 2 6 ,9 8 4
- i,5 0 1
0 ,8 9 5 ,1 1 0
5 4 ,2 4 6
3 ,1 8 9 ,9 8 6
0 ,8 2 5 ,8 0 8
1 ,3 7 9 ,8 8 8
1 ,3 7 5 ,0 2 4

4 2 4 ,1 5 0
2 3 0 ,0 9 1
2 1 4 ,5 6 8
8 ,7 6 8
1 4 ,5 0 8 ,5 6 7
3 8 8 ,9 4 0
3 ,3 1 7 ,9 1 2
1 2 ,9 7 4 ,6 8 1
3 7 6 ,6 8 7
1 0 ,8 8 6
6 ,7 9 4 ,5 1 3
5 ,3 6 9
1 ,7 2 8 ,2 2 3
170,1,3,3
2 ,0 6 3 ,7 0 0
1 6 ,8 8 1 ,8 3 8
2 ,4 2 5 ,1 5 5
4 ,3 1 6 ,6 6 6
2 8 8 ,4 9 1
1 4 ,5 8 0
5 ,9 8 9 ,1 1 2
6 2 .5 5 2
3 ,0 9 6 ,7 1 8
6 ,2 7 1 ,1 6 3
1 ,3 9 3 ,2 7 7
1 ,2 0 1 ,4 4 6

5 ,2 1 0 ,4 5 7 4 ,6 5 2 ,4 0 9
1 2 ,5 0 1 ,0 2 0 1 0 ,9 9 8 ,4 5 8
2 ,3 4 3 ,9 0 3 2 ,0 9 7 ,0 0 8
1,000,1.3.3 1 ,0 0 9 .4 3 6
0 6 4 ,8 2 3
7 5 5 ,0 5 0
2 0 0 ,0 7 1
3 ,5 6 9 ,3 3 3
1 9 ,7 2 3
7 7 ,9 2 1
2 7 ,9 9 0
3 9 ,1 1 1
1 6 2 ,4 2 9
1 .5 8 0 ,1 .3 8
0 ,0 5 5 ,4 2 4
5 ,4 5 5 ,3 1 6
293,19.3
3 5 6 ,0 9 1
4 3 3 ,4 7 6
2 8 1 ,3 2 9
1 ,3 5 4 ,3 0 6
8 1 4 ,2 0 6
1 ,1 8 9 ,0 8 4
8 ,8 3 9 ,2 8 3
jm .
1 ,784
1 7 0 ,9 6 1
4 2 7 ,9 4 3

1 0 3 ,3 4 8
3 ,3 9 5 ,9 0 8
1 7 ,2 4 4
7 5 ,8 0 0
1 0 ,2 7 1
2 2 ,9 9 9
15.3.786
1 .4 8 6 .0 2 8
5 ,4 7 5 ,6 1 0
4 ,7 7 1 ,1 2 4
2 2 4 ,8 0 0
3 8 0 ,5 3 9
4 3 8 ,7 4 6
2 6 6 ,9 9 2
0 8 1 ,9 8 9
6 3 7 ,2 3 3
1 ,0 5 9 ,7 1 0
8 ,5 0 2 ,3 4 9

1 0 ,1 4 0 ,4 4 7
1 ,4 2 1 ,6 1 6
4 5 2 ,3 0 3
4 7 1 ,0 8 1
1 0 ,7 ,3 4 ,2 4 0
1 5 5 ,9 8 0
5 3 1 ,2 6 0
9 ,6 2 7 ,9 1 0
1 ,7 0 .3 ,0 0
1 ,4 1 9 ,f>.»7
7 1 3 ,8 7 3
2 1 3 ,9 9 4

0 ,2 8 7 ,7 4 2
1 ,3 2 2 ,8 9 9
4 0 9 ,7 7 5
4 7 9 ,5 6 4
8 ,9 1 0 ,9 0 5
1 3 1 ,1 1 3
5 3 0 ,5 2 1
8 ,9 1 5 ,8 7 6
1 ,5 0 5 ,5 1 1
1 ,4 3 8 ,0 2 0
0 9 8 ,9 1 8
2 0 1 ,9 17

3 6 ,8 2 2
3 5 ,8 5 2
1 ,2 9 6
In c . 23
08 .3 8 2
1 0 0 ,0 9 1
8,3,905
7 7 , 148
9 4 5 ,7 1 0 1 0 ,0 9 7 ,5 0 7
1 0 ,8 5 5
2 1 ,6 0 7
7 2 2 ,3 0 9
7 9 3 ,8 3 5
5 ,3 6 8
6 ,7 4 0
3 0 ,7 8 0
0 9 ,0 0 9
125,5.38 1 ,5 7 7 ,6 7 0
1 0 5 ,0 0 0 1 ,7 6 6 ,6 9 0
2 3 ,2 7 1
2 8 2 ,4 1 5

5 ,3 6 0 .3 8 4
3 0 ,8 2 2
8,91.3
9K ,3 8 2
7 7 ,4 4 8
1 0 ,0 2 9 ,3 8 3
2 2 ,2 4 2
7 2 2 .3 0 .
1 3 ,7 7 6
6 0 ,3 0 9
1 ,5 3 7 ,4 2 6
1 ,5 7 4 ,5 0 0
2 8 0 ,0 7 0

1 ,5 6 4
1 5 7,6.30
4 2 3 ,7 3 5

1 9 8 ,0 8 4
1 ,0 9 7 ,1 6 7
5 ,3 8 4 ,0 8 7

1 9 0 ,0 7 4
0 6 2 ,8 8 1
4 ,7 9 9 ,8 0 9

2 ,1 7 9 ,3 6 0 2 ,2 0 0 ,7 7 0

4 ,0 9 3 ,2 2 3

4 ,0 6 9 ,0 3 7

9 1 0 ,0 0 0 1 1 ,6 3 4 ,1 0 9 1 0 ,1 7 0 ,2 7 4
2 3 ,3 5 7
2 6 0 ,9 4 4
2 8 8 ,5 7 2
8 8 0 ,2 9 9
8 8 0 ,2 9 9
9 1 0 ,9 8 4
8 5 0 ,2 7 2 0 1 ,2 5 5 ,7 5 4 1 0 ,0 .3 2 ,1 7 7
8 ,9 7 7
9 4 ,5 3 9
1 3 0 ,7 7 5
5 ,4 8 0
1.3.923
1 1 ,5 8 2

u ly t to l.n es. Date

W eek or
M onth.

C urren.
Y ea r.

e N Y C A H ud R lv .
L a k e S h o r e A M •'
n L ak e Ei e& W esi
C h ic In d A S o u th
M ic h ig a n C e n tr a l.
C le v e C C A S t L .
P e o u a A E a ste r r
C in c in n a ti N o r t h F i t t s A L a k e E rie
R u t l a n d _________
N Y C h ic A S t L_
T o ta l a ll l in e s ___
N Y O n t A W e ste r n
N Y N II A H a r t . _r
N Y S u sq A W e i t . .
N o r fo lk A S o u t h ._ r
N o r fo lk A W e ste r n
N o r th e r n C e n tr a l
N o r th e r n P a c i i l c .- r
P a c ific C o a st C o ___
P e n n s y lv a n ia C o . . ,
d P enn— E of P A E
d W est of P A E .
P e r e M a r q u e tt e ___r
P h tla B a lt A W a s h .
P itt s C iu C h ic A S tL
R a le ig h A S o u t h p ’rt
R e a d in g C o m p a n y .
P lilla A R e a d in g .
C oal A Ir o n C o . .
T o t a l b o th c o s ___
R ic h F r e d e r A P o t .
R io G ra n d e J u n e ___
R io G ra n d e S o u t h . .
R o c k I s la n d S y s t e m
S t L A San F ran .
C h ic A E a s t I ll ln .
1 E v a n sv A T er H
T o t a l o f a ll l in e s .
S t . J o s & G ra n d I s l .
S t L o u is S o u t h w e s t .
S a il P e d L A A S L .r
S e a b o a r d A ir L in e .r
A t la n ta A B l r m .r
F lo r id a W e s t S h . r
S o u th e r n I n d ia n a .,
c S o u th e r n P a c C o ...
S o u th e r n R a i l w a y . .
M o b ile A O h io ___
C ln N O A T e x P .
A la G re a t S o u t h .
G eo rg ia S o A F la
T e x a s C e n tr a l_____
T e x e s A P a c ific ____
T id e w a te r A W e s t r
T o le d o A O h io C t
T o le d o P e o r A V ,t
T o le d o S t L A W e st
T o m b lg b e e Vr ' l e y . .
U n io n P a c ific S y s t .

J u l y ______
J u i y ______
J u l y ______
J u l y ______
J r | y --------J u > y ______
J u y ______
J u l y _____
J> y --------J u l y ______
J u l y ______
J i y --------I " i y ...........
J u i y _____
A u g u s t ___
A u g u s t ___
J u lv _____
A u g u s t ___
A u g u s t ___
J u l y ............
l u l y ............
A u g u s t ___
A u g u s t ___
T u l y ............
A u g u s t ___
A u g u s t ___
A u g u s t ___

7 .9 5 5 .1 9 5
3 .9 - 8 ,3 4 9
3 9 0 ,6 7 6
2 6 8 .2 2 9
3 .2 6 6 .6 6 2
2 ,2 9 7 .7 0 4
2 3 9 794
8 8 ,3 3 1
1 ,4 4 9 ,4 7 9
2 8 0 ,5 0 7
8 3 3 ,8 0 7
20008733
8 6 1 ,0 8 6
5 ,0 7 0 .1 5 4
2 4 1 ,2 3 3
2 0 7 ,4 3 0
2 .5 8 1 ,3 0 '
1 ,0 4 8 .8 3 :
6 ,9 1 0 ,J7,
7 3 4 ,5 8 2
1 .4 0 6 ,4 1 7
135 4 4 999
In c . 1 ,5 3
1 ,2 1 5 ,3 9 6
1 ,5 1 0 ,9 2 7
2 ,7 7 2 ,5 9 8
1 1 ,9 1 5

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7 ,0 9 3 ,7 9 8 7 ,9 5 5 ,1 9 5 7 .0 9 3 ,7 0 8
'.2 6 4 .3 8 9 - 3 ,9 3 8 ,3 4 9 3 .2 0 4 ,3 8 9
3 9 0 , ,0 8
9 0 ,4 0 8
3 9 0 ,6 7 6
1 9 1 .8 6 9
1 9 1 ,8 6 9
2 6 8 .2 2 9
1 ,9 4 1 .1 8 8 2 . 2 6 0 , 66_- 1 .0 4 1 .1 8 8
2 ,0 8 8 .9 5 6 •>.297,704 2 ,0 8 3 ,9 5 6
2 1 6 ,8 8 7
2 " 9 .7 9 4
2 1 6 .8 8 7
8 2 .1 9 5
8 2 ,1 9 5
8 8 .3 3 1
9 9 5 ,7 3 1 1 ,4 4 9 ,4 7 9
0 9 5 ,7 3 1
246,-110
2 8 0 ,5 0 7
2 4 6 ,4 1 0
6 9 2 ,7 4 1
8 3 3 ,8 0 7
6 9 2 ,7 4 1
17204C 72 1 0 ,0 0 3 ,7 3 3 1 7 ,2 0 4 ,5 7 2
8 2 2 ,9 0 7
8 6 1 .0 8 6
8 2 2 .£ 0 7
1,401 ,8 2 3 5 ,0 7 0 .1 5 4 4 4 0 1 ,8 2 5
2 6 5 .7 3 1
4 8 5 ,7 4 2
4 9 5 ,1 7 1
1 7 8 ,1 0 8
4 2 3 ,8 9 8
3 6 2 ,0 2 1
2 .3 6 0 .8 2 5 2 .5 8 1 .-too 2 .3 6 9 .8 2 5
9 5 6 ,0 3 6 2 ,0 2 4 ,1 5 1 1 ,8 2 5 ,1 5 1
5 ,8 3 6 ,6 6 8 1 3 ,6 0 8 ,9 5 6 1 1 ,5 1 6 ,1 9 3
5 7 9 ,9 8 8
7 3 4 ,5 8 2
5 7 9 988
3 .5 9 0 .0 2 0 4 .4 0 6 .4 1 7 3 .5 9 0 .0 2 0
1 1 6 4 4 7 9 9 2 6 .4 6 0 ,7 6 4 2 2 ,9 2 6 ,8 6 4
9 ,7 0 0
/ n c .2 ,5 9 4 ,9 0 0
1 ,0 5 7 ,2 1 6 1 ,2 1 5 ,3 9 6 1 ,0 5 7 ,2 1 6
1 ,3 8 9 ,2 2 7 3 ,0 2 8 ,8 0 5 2 ,8 1 7 ,9 0 5
2 ,2 5 5 .7 7 8 5 ,2 1 1 ,9 8 6 4 ,4 8 3 ,6 8 2
8 ,1 3 3
2 3 ,403i
1 7 ,8 3 0

A u g u s t ___
A u g u s t ___
A u g u s t ___
J u l y ............
J u n e _____
3d w k Sep
A u g u s t ___
A u g u s t ___
A u g u s t ___
A u g u s t ___
Au • i s t ___
J u ly _____
3d w k S ep
Tuly _____
J u l y _____
l u l y ............
l u l y ............
l u l y _____
A u g u s t ___
3 d w k S ep
id w k S ep
.4 w k S e p
3d w k Sep
3d w k S ep
2d w k Sep
3d w k S ep
A ;u st ___
J i - . y _____
3d w k S e p
3d w k S e p
A u gust —
A u g u s t ___
J u l y _____
V irgi- 'a A S o u W e st A u g u s t ___

W e s te r n M a r y la n d .r
W est J er A S e a s b ..
W h e e lin g A I, H __r
W h ite R i v ( V t ) 2 w k s
W r le h ts v tU e A T e n n
Y a z o o A M iss V a il.

J u l y ____ _
A u g u s t ___
J u l y ............
en d A u g 28
A u g u s t ___
A u g u st . . .

3 ,5 1 0 ,4 6 4
1 ,7 8 0 ,1 6 4
5 ,2 9 0 ,6 2 8
1 8 4 ,7 2 7
8 4 ,0 4 9
5 ,6 1 9
5 ,0 7 7 ,1 3 2
3 ,6 5 0 ,2 6 1
9 7 0 ,0 8 0
23 ,5 8 2
10831057
142,08-8
2 3 2 ,5 7 9
7 4 9 ,0 8 3
1 ,2 6 9 ,9 6 5
7 7 ,8 1 2
6 ,4 6 0
1 0 4 ,3 2 7
11310746
1 ,1 4 1 ,2 5 2
1 9 7 ,4 3 2
1 6 8 ,8 7 5
6 9 ,1 6 '
4 1 ,7 2 8
1 6 ,7 6 1
2 8 2 ,3 4 5
6 ,5 2 4
3 2 8 373
2 3 ,3 7 3
7 7 ,2 8 6
0 ,2 1 7
7 ,9 4 8 ,6 1 4
7 2 1 .0 1 0
1 0 0 ,5 1 8
6 0 4 ,1 3 1
545 ,0 5 '.
8 2 0 ,4 50
5 9 0 ,5 6 5
1 ,4 0 8
1 9 .5 7 3
7 1 5 ,7 2 0

3 ,0 1 2 ,9 0 3
2 ,1 2 2 ,0 3 0
5 ,1 3 4 ,9 3 3
174 628
6 2 .1 3 7
1 2 ,1 0 5
5 ,3 3 4 ,1 2 7
3 ,1 7 1 ,9 9 0
8 5 4 ,1 6 2
1 9 6 ,9 5 6
9 ,5 5 7 ,2 3 7
1 2 4 ,8 1 6
2 1 7 ,0 6 7
5 2 3 ,2 5 2
1 ,1 8 6 ,3 5
7 0 ,2 '.
6 .0 .
1 0 2 ,4 3 .
9 ,8 3 1 ,6 3 8
1 .0 0 4 ,0 5 1
1 8 1 .0 5 0
1 4 9 ,1 8 1
6 0 .S 9 4
3 7 ,5 9 0
1 7 ,0 2 1
2 6 2 .4 2 1
5 .7 1 5
4 3 8 ,5 5 3
2 4 ,7 1 1
7 5 ,6 1 3
5 ,4 6 6
0 ,9 7 5 ,4 7 1
7 0 4 .9 2 6
1 0 0 .7 8 5
5 4 6 ,0 7 5
4 7 6 ,7 5 0
7 6 7 ,2 5 0
5 2 7 .2 1 2
878
1 6 .9 5 7
0 3 7 ,6 4 8

$

V a rio u s F iscal Y ears.

1 7 ,2 5 3
1 0 6 ,9 1 7
5 4 6 ,6 5 8

1 ,0 3 9 .0 0 0
2 8 .0 5 0
9 1 0 ,9 8 4
S 3 4 .9 0 2
1 0 ,0 6 5
5 ,2 7 5

L atest Gross E a r n .v is .
LO A D S.

P r o us
Y ear.

« M e x ic a n R a i l w a y .
a M e x ic a n S o u t h e r n .
e N V C entral & H u d s o n R iv e r .
L a k e S h o r e A M ich ig a n S o u th
n L a k e Erie A W e s te r n _______
C h ic a g o n d la n a A S o u t h e r n .
M ic h ig a n C e n t r a l.
C le v e Cln C h ic a g o & S t L o u is
P e o r ia A E a s t e r n .
C in c in n a ti N o r t h e r n _________
P itt s b u r g h A L a k e E r ie _____
R u t l a n d _________
N e w Y ork C h ic a g o & S t L o u is
T o t a l all lin e s ____
N o r th e r n C e n tr a l___
d P e n n — E a st of P itts b & E r ie ..
« W e s t o f P it t s & E r ie ..............
P h ila B a ltim o r e & W a s h in g to n .
P i t t s C ln C h ic a g o A S t L o u is ___
R io G ra n d e J u n c t io n
T e x a s A P a c ific ____
W e s t J e r s e y A S e a s h o r e ________

Jan
Jan
Jan
Ian
Tan
Ia n
fa n
Ian
Tan
Tan
Ian
Jan
Ian
Ia n
Tan
Jan
Jan
Tan
Jan
D ec
Jan
Jan

1
1

to
to

1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to
1 to

P revious
Y ea r.

6 ,6 0 2 ,8 6 3
3 ,3 7 7 ,2 5 9
9 ,9 8 0 ,1 2 2
1 8 4 ,7 2 7
881,481!
1 1 5 ,3 5 1
1 1 ,3 9 3 ,7 3 9
6 ,9 5 5 ,6 3 1
1 ,8 2 3 ,2 1 0
4 2 4 ,8 3 5
2 0 ,5 9 7 ,4 1 1
1 4 2 ,0 8 8
2 ,3 0 2 ,0 2 2
7 4 9 08"
1 ,2 6 9 ,9 6 .
7 7 ,8 1 2
6 ,4 6 0
1 0 4 .3 2 7
2 2 ,1 2 5 ,3 1 5
1 2 ,3 1 1 ,1 7 8
2 ,1 8 0 ,7 6 2
1 ,8 1 4 ,2 1 2
7 9 2 ,1 4 4
4 6 1 ,0 7 7
1 8 9 ,2 8 0
2 ,9 7 1 ,7 7 9
1 3 ,0 4 1
328,37.1
2 5 4 .7 7 5
8 5 5 ,0 0 1
1 2 ,6 2 1
1 5 ,4 8 3 ,4 6 8
7 2 1 .9 1 6
2 0 2 ,6 3 3
6 ,6 2 5 ,2 7 1
5 4 5 .0 5 7
1 ,5 8 3 ,0 3 1
5 9 0 .5 6 5

5 ,9 3 0 ,3 7 5
4 ,0 7 6 ,7 9 4
1 0 ,0 0 7 ,1 6 8
1 7 4 ,6 2 8
8 1 1 ,6 9 7
1 4 0 ,1 1 1
1 0 ,0 1 3 ,2 3 4
6 ,0 2 2 ,6 4 5
1 ,6 2 8 ,9 2 8
3 8 2 ,6 6 5
1 8 ,0 4 7 ,4 7 2
1 2 4 ,8 1 6
2 ,2 0 4 .9 4 9
5 2 3 ,2 5 2
1 ,1 8 6 ,3 5 3
7 0 ,2 3 7
6 ,0 9 8
1 0 2 .4 3 3
1 9 ,5 5 2 ,0 4 3
1 1 ,1 1 6 ,9 2 6
2 ,0 0 1 ,2 8 1
1 ,7 4 2 ,0 6 2
6 7 6 ,1 8 8
3 9 9 ,3 5 3
1 9 4 ,5 6 0
2 ,7 7 2 ,4 2 1
1 1 ,0 7 1
4 3 8 ,5 5 3
2 6 5 ,1 3 3
8 4 5 ,1 2 6
1 0 ,0 5 7
1 3 ,7 2 5 ,1 5 5
7 0 4 .9 2 6
1 9 3 ,3 5 8
6 ,0 7 7 ,2 3 7
4 7 6 ,7 5 0
1 ,4 6 3 ,4 3 1
5 2 7 ,2 1 2

3 5 ,4 3 7
1 .3 7 1 .5 4 0

3 2 ,8 0 0
1 ,2 2 2 ,1 9 9

Current
Y ear.

P eriod.

Jan
B e ' U ’o n t e C e n t r a l..
! D e la w a r e A H u d s o n ___________ fa n

d m . rt.
Ye ir.

* 1 7 ,8 2 6
A ll? 31
J u ly 31 1 0 ,8 1 0 .8 1 4
2 8 ,0 0 4
S e p t 21 5 ,4 6 8 ,7 0 0
9 7 5 ,3 0 1
S e n t 21
J u ly 31 > 0 .5 2 8 .9 6 5
J u ly 31 2 4 ,1 8 3 ,4 5 7
J u ly 31 2 ,5 5 8 ,0 1 8
J u ly 31 1 ,6 9 4 .9 1 2
J u ly 31 1 4 ,8 5 7 .0 3 1
J u ly 31 1 4 ,8 0 5 .7 2 6
J u ly 31 1 .5 7 6 ,1 4 5
6 1 2 ,9 6 1
J u ly 31
J u ly 31 7 ,2 3 2 ,1 2 1
J u ly 31 1 ,6 5 0 ,5 6 2
J u ly 31 5 ,5 0 5 .2 8 0
J u ly 31 1 2 5 2 0 5 1 8 4
A u g 31 7 ,7 3 5 .2 4 5
A u g 31 9 6 ,6 0 3 ,7 1 3
In c . 7 ,3 9
A u g 31
A u g 31 1 1 ,4 9 1 .0 1 6
A u g 31 1 8 ,8 5 3 ,7 4 6
4 9 7 ,8 8 9
J u n e 30
S e p 21 9 ,5 8 9 ,9 4 9
A u g 31 3 ,9 8 1 ,4 8 3

Y ear.
5 3 9 ,4 2 7
1 0 .3 0 3 .4 8 1
4 0 ,6 2 2
5 ,5 1 6 ,4 0 0
9 1 9 ,1 1 7
4 5 ,4 0 4 ,3 9 4
2 1 ,0 9 0 .9 7 9
2 ,3 4 6 ,3 2 5
1 .4 7 7 ,2 7 4
1 3 ,2 7 2 ,0 9 7
1 2 ,9 3 9 ,6 8 1
1 ,4 8 0 .9 1 1
4 7 8 ,1 0 9
5 ,0 8 3 ,4 4 0
1 ,4 7 9 ,9 0 1
5 ,2 0 1 .7 6 0
110255077
7 .2 5 6 ,4 4 5
8 6 ,9 5 0 ,0 1 3
6 ,0 0 0
1 0 ,5 5 8 ,0 1 6
1 6 ,7 0 8 .2 2 5
4 1 5 .0 9 5
8 ,7 6 9 ,9 8 2
3 ,7 3 5 ,7 8 3

AGGREGATES OF GROSS EARNINGS—Weekly and Monthly.
W eekltt S u m m a rie s.
3d
4 th
1st
2d
3d
3d
4 th
1st
2d
3d

w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek
w eek

J u ly (44 -o a d s ) ____
J u ly (49 r o a d s )____
A u g (44 r o a d s ) ____
A u ? (46 r o a d s ) ____
A u ? (33 r o a d s ) ____
A u ? (47 r o a d s ) ____
A u ? (44 r o a d s ) ____
(4 2 r o a d s )____
Sep
(4 5 r o a d s ) ____
Sep
S e p t (4 5 r o a d s ) ____

'ur'nl Year P rev's Y ear In c. or Dec.
s
1 0 .7 9 5 ,9 8 0
1 6 .5 8 0 ,1 7 3
U . 3 1 1 ,2 9 0
1 1 ,5 6 5 ,7 0 4
1 0 ,9 2 0 .0 8 0
1 1 ,7 8 0 ,9 9 0
1 6 ,7 4 0 ,1 4 5
1 1 ,5 2 1 ,2 0 5
1 2 ,3 1 7 ,2 1 9
1 2 ,9 3 6 ,6 3 5

S
1 0 ,2 2 8 ,1 8 7
1 5 ,0 7 5 ,8 3 4
1 0 ,2 3 5 ,3 0 1
1 0 ,0 0 0 ,7 7 4
9 ,0 3 1 ,2 0 9
1 0 ,7 4 5 ,5 9 2
1 5 ,1 0 7 ,5 2 7
1 0 ,4 3 4 ,3 8 1
1 1 ,2 2 0 ,6 0 9
1 1 ,5 0 8 ,4 5 0

+
+
+
+
+
+
+

S
+ 5 6 7 ,7 9 3
1 ,5 0 4 ,3 3 9
1 ,0 7 5 .9 2 9
+ 9 6 4 .9 9 0
+ 9 8 8 ,8 7 7
1 ,0 3 5 ,3 9 8
1 ,6 3 2 ,6 1 8
1 ,0 8 6 ,8 8 7
1 .0 8 7 ,0 1 0
1 ,4 2 8 ,1 7 9

%

M o n th ly S u m m a rie s.

O u fxit Y ear P rev's Y ear
%

5 .5 5
9 .9 8
10.51
0 .1 0
9 .9 6
9 .0 3
1 0 .8 4
1 0 .4 2
9 .6 9
1 2 .4 1

M o n th
M o n th
M o n th
M o n th
M o n th
M o n th
M o n th
M o n th
M o n th
M o n th

N ov
D ec
Jan
F eb
M ch
A p ril
M av
June
J u ly
Au?

1908
190 8
19 0 8
1909
1909
19 0 9
19 0 9
1909
1009
1909

(8 0 4
(7 9 8
(8 9 4
(893
(8 9 0
(8 9 5
(8 9 3
(7 2 9
(6 9 2
( 49

roads) .
r o a d s).
r o a d s).
r o a d s).
lo a d s ).
r o a d s).
r o a d s ).
ro a d s) .
r o a d s).
r o a d s).

2 1 0 .0 7 1 .1 2 3
2 0 5 .2 1 6 481
1 8 3 .2 2 3 .0 1 4
1 7 4 .4 9 7 .3 1 9
2 0 5 .7 0 8 .3 1 9
1 9 7 ,0 1 1 ,5 3 9
2 0 1 ,6 2 5 ,1 2 2
1 8 9 ,5 6 3 ,3 1 8
2 0 8 ,8 7 0 ,4 1 1
5 7 ,9 5 3 ,8 1 1

s

2 1 8 .9 6 7 .7 3 1
1 9 3 .7 9 1 .6 4 5
1 7 3 ,5 9 6 ,9 0 3
1 6 1 ,0 5 8 .6 0 7
1 8 3 ,4 5 3 ,9 0 6
1 7 5 .0 0 2 .6 4 8
1 7 4 ,4 7 5 ,4 1 1
1 0 4 ,7 9 4 ,7 8 6
1 8 5 ,3 4 0 ,5 6 3
5 1 ,8 5 1 ,2 1 1

— 7 .9 8 6 .8 0 8
+ 11 ,4 2 4 .8 3 0
+ 9 .6 2 6 ,1 1 1
+ -1 3 .4 3 8 ,7 1 2
+ 2 2 .2 5 4 ,4 1 3
+ 2 .0 0 8 .8 9 1
+ 2 7 ,1 4 9 .7 1 1
+ 2 4 .7 0 8 ,5 3 2
+ 2 3 .5 2 9 .8 4 8
+ 6 .1 0 2 .6 0 0

9.65
5 .9 0
5 .5 4
8 .8 4
1 2 .1 3
1 2 .5 8
1 5 .5 6
1 5 .0 s
1 2 .7 0
1 1 .7 ,

a M exican c u r r e n c y , b in c lu d e s e a r n in g s o f G u lf A C h ic a g o D iv is io n , c I n c lu d e s th e H o u s to n A T e x a s C e n tr a l a n d Its s u b s id ia r y lin e s In b o th y e a r s
(l C o v e r s iin e s d ir e c t ly o p e r a te d , e I n c lu d e s th o N e w Y o rk A O tta w a th e S t . L a w r e n c e A A d ir o n d a c k a n d t h e O tt a w a A N e w Y o rk R y . , t h e l a t t e r oi
w h te h , b e in g a C a n a d ia n r o a d , d o e s n o t m a k e r e tu r n s to th e I n t e r - S t a te C o m m e rc e C o m m is s io n , f I n c lu d e s E v a n s v ille A I n d ia n a R R .
h I n c lu d e !
e a r n in g s o f C o lo r a d o A S o u th e r n , F o r t W o r th A D e n v e r C ity a n d all a f filia t e d lin e s , e x c e p tin g T r in it y A B r a z o s V a lle y R R . k I n c lu d e s In b o th y e a r i
e a r n in g s o f D e n v e r E n id A G u lf R R .. P e c o s V a lle y S y s t e m a n d S a n t a F c P r e s c o t t A P h o e n ix R y . I T h e s e fig u r e s do n o t Include r e c e ip t s fro m s a le of
ooal
« I n c lu d e s th e N o r th e r n O h io R R . o F ig u r e s h e r e a r c o n t h e o ld b a s is o f a c c o u n t in g — n o t th e n e w o r I n t e r - S t a t e Commerce Commission method
r T h e s e fig u res are e n th o n e w b a s is p r e scr ib e d b y t h e I n t e r - S t a te C o m m e rc e C o m m is s io n .




Ilo a d s.

— Gross E a r n in g s -----C u rre n t
P r e v io u s
Y ear.
Y ea r.

_

N e w J e r se y & N e w V o r k .b —
A p r 1 to J u n e
30
1 6 9 ,4 0 6
1 5 7 ,4 2 0
J a n 1 to J u n e
3 0 ..
3 0 3 ,4 6 4 2 8 2 ,0 6 4
J u l y 1 to J u n e
30
6 3 4 ,5 5 1
6 1 0 ,4 8 1
N e w O r le a n s G r e a t N o r t h e r n —
2 0 6 ,5 8 9
J u ly 1 to A u g 3 1 ______
N Y S u sq & W e s te r n .a .A u g
2 4 1 ,2 3 3
2 6 5 ,7 3 1
J u l y 1 t o A u g 3 1 _______
4 8 5 ,7 4 2
4 9 5 ,1 7 1
N o r t h e r n C e n t r a l, b - ____A u g 1 ,0 4 8 ,8 3 6
9 5 6 ,0 3 0
J a n 1 to A u g 3 1 .............. 7 ,7 3 5 ,2 4 5
7 ,2 5 6 ,4 4 5
rrN o rth ern P a c i f i c . b ____A u g 6 ,9 1 0 ,9 7 7
5 ,8 3 6 ,6 6 8
1 1 ,5 1 6 ,1 9 3
_

T h ir d W eek of Septem ber.

1909.

A la b a m a G r e a t S o u t h e r n _______
A t l a n t a B ir m in g h a m & A t la n t ic
B u lf a io R o c h e s t e r & P itt s b u r g h
C a n a d ia n N o r t h e r n . ........... .............
C a n a d ia n P a c if ic ________________
C e n tr a l o f G e o r g ia _______________
C h e s a p e a k e & O h io _____________
C h ic a g o & A l t o n ________________
C h ic a g o I n d ia n a p o lis & L o u is v .
C in N e w O rl & T e x a s P a c i f i c —
C o lo r a d o & S o u t h e r n ----------------D e n v e r & R io G r a n d e ------------ ...
D e n v e r N o r t h w e s t & P a c ific —
D e t r o it f: M a c k in a c ------------------D e t r o it T o le d o & I r o n t o n --------A n n A r b o r ____________________
D u lu t h S o u t h S h o r e & A t l a n t i c .
G e o r g ia S o u t h e r n & F lo r id a —
G ra n d T r u n k o f C a n a d a ----------G ra n d T r u n k W e s t e r n --------D e t r o it G ra n d H a v e n & M il
C a n a d a A t l a n t i c -------------------I n t e r n a t io n a l & G r e a t N o r th e r n
I n t c r o c e a n lc o f M e x ic o --------------I o w a C e n t r a l -----------------------------L o u is v ille & N a s h v i l le --------------M e x ic a n I n t e r n a t i o n a l --------------M e x ic a n R a i l w a y ------------------------M e x ic a n S o u t h e r n ------ ------------M in er a l R a n g e ______________ . . .
M in n e a p o lis & S t . L o u is ----------M in n e a p o lis S t P a u l & S S M .. 1
C h ic a g o D i v i s i o n . .............. — j
M is s o u r i P a c ific & I r o n M t n . - l
C e n tr a l B r a n c h _____________ j
M o b ile & O h io ---------------------------N a t io n a l R a il w a y s o f M e x i c o . .
N e v a d a - C a llf o m la - O r e g o n --------R io G r a n d e S o u t h e r n ----------------S t . L o u is S o u t h w e s t e r n .............. ..
S o u t h e r n R a i l w a y ----------------------T e x a s & P a c if ic --------------------------T o le d o P e o r ia & W e s t e r n ----------T o le d o S t L o u is & W e s t e r n ------W a b a s h ___— .......................... ..
V- T o t a l (4 5 r o a d s ) -------N e t I n c r e a s e ( 1 2 .4 1 % ) .

In c re a se . D ecrease.

1008.

$
6 9 ,1 6 2
4 6 ,6 2 0
2 0 1 ,3 9 3
2 7 0 ,8 0 0
1 ,8 8 5 .0 0 0
2 5 0 ,4 0 0
6 6 3 ,0 3 6
3 1 0 ,5 2 9
1 1 7 ,2 5 0
1 6 8 ,8 7 5
3 2 6 ,2 7 6
5 0 2 ,3 0 0
2 1 ,9 6 6
2 5 ,1 4 0
3 4 ,8 7 6
3 7 ,2 0 0
7 7 ,0 7 1
4 1 ,7 2 8

$
6 0 ,8 9 4
3 6 ,0 1 7
1 5 2 ,7 1 1
2 0 9 ,7 0 0
1 ,4 7 1 ,0 0 0
2 4 6 ,0 0 0
5 3 3 ,6 9 2
3 1 5 ,6 2 5
1 1 1 ,9 6 5
1 4 9 ,8 8 1
3 0 1 ,6 1 6
4 5 1 ,6 0 0
1 5 ,1 0 6
2 1 ,5 3 6
3 8 ,3 2 0
4 1 ,6 4 7
6 3 ,8 1 6
3 7 ,5 9 0

S
8 ,2 6 8
1 0 ,6 0 3
4 8 ,6 8 2
6 1 ,1 0 0
4 1 4 ,0 0 0
4 ,4 0 0
1 2 9 ,3 4 4

9 3 3 ,2 1 3

8 5 5 ,1 9 2

7 8 ,0 2 1

2 0 0 ,0 0 0
1 1 0 ,3 9 7
6 9 ,0 6 7
9 8 7 ,2 0 0
1 3 3 ,0 2 7
1 2 1 ,0 0 0
2 5 ,2 4 6
1 5 ,9 0 9
1 2 3 ,6 6 8
6 1 9 ,6 9 6

1 8 1 ,0 0 0
1 1 3 ,2 2 3
6 5 ,6 3 6
9 4 5 ,7 1 0
1 2 5 ,5 3 3
1 0 5 ,0 0 0
2 3 ,2 7 1
1 7 ,2 5 3
1 0 6 ,9 1 7
5 4 6 ,6 5 8

1 9 ,0 0 0

1 ,0 3 9 ,0 0 0

0 1 6 ,0 0 0

1 2 3 ,0 0 0

1 9 7 ,4 3 2
0 3 4 ,9 0 2
1 0 ,0 6 5
5 ,6 1 9
2 3 2 ,5 7 9
1 ,1 4 1 ,2 5 2
2 8 2 ,3 4 5
2 3 ,3 7 3
7 7 ,2 8 6
6 0 4 ,1 3 1

1 8 1 ,0 5 0
8 5 0 ,2 7 2
8 ,0 7 7
1 2 ,1 0 5
2 1 7 ,0 6 7
1 ,0 6 4 ,0 5 1
2 6 2 ,4 2 1
2 4 ,7 1 1
7 5 ,6 1 3
5 4 6 ,0 7 5

1 6 ,3 8 2
8 4 ,6 3 0
1 ,0 8 8

$

5 ,0 9 6
5 ,2 8 5
1 3 ,9 0 4
2 1 ,6 6 0
4 7 ,7 0 0
6 ,8 6 0
3 ,6 1 0
3 ,4 4 4
4 ,4 4 7
1 3 ,2 5 5
4 ,1 3 8

2 ,8 2 6
3 ,4 3 1
4 1 ,4 9 0
7 ,4 8 9
1 6 ,6 0 0
1 ,9 7 5
1 ,3 4 4
1 6 ,7 5 1
7 3 ,0 3 8

____
6 ,4 8 6

1 5 ,5 1 2
7 7 ,2 0 1
1 9 ,9 2 4
1 ,3 3 8
1 ,6 7 3
5 8 ,0 5 6

1 2 ,0 3 6 ,6 3 5 1 1 ,5 0 8 ,4 5 6 1 ,4 5 3 ,1 6 0
1 ,4 2 8 ,1 7 0

2 4 ,9 8 1

Net Earnings Monthly to Latest D ates.—The table fol­
lowing shows the gross and net earnings of STEAM railroad
and of industrial companies reported this week:
— G ross E a r n in g s -----C urrent
P re v io u s
Y ea r.
Y ea r.
R oads.

5

$

------- N e t E a r n in g s -------

C u rren t
Y ear.

P rev io u s
Y ea r.

$

$

3 ,3 8 5
2 ,5 5 0
6 ,4 6 6
4 ,6 3 8
A la T e n n A N o r t h e r n ___Au:
5 ,7 9 4
4 ,0 6 6
1 1 ,2 6 1
8 ,7 0 8
J u l y 1 t o A u g 3 1 --------7 ,1 9 9 ,6 8 5 J 3 ,7 4 7 ,0 5 5 J 2 ,8 3 6 ,8 4 9
A t c h T o p & S a n t a F e . b . A u g 8,,0
,0 5 9 ,8 3 09
,111 1 1 4 ,5 0 8 ,5 6 7 ; '6 ,4 0 0 ,0 0 7 f o ,4 7 o , a 53
J u l y 1 to A u g 3 1 _____ 1 1 6 ,7 0022,1
2 1 8 ,7 6 6
1 ,5 7 5 ,5 7 4
2 0 6 ,0 0 3
A t l a n t i c C o a s t L i n e .a — A u g 1 ,7 09 4 ,5 6 2
5 4 0 ,0 5 7
3 ,3 1 7 ,9 1 2
0 7 3 ,2 4 0
,65577,6
,6 0 3
J u l y 1 to A u g 3 1 _______ 3 ,6
5 3 ,3 4 7
1 9 5 ,3 5 2
9 5 ,4 2 9
2 2 6 ,0 9 2
B an g o r & A r o o sto o k , b -A u g
1 0 3 ,0 4 2
3 7 6 ,6 8 7
1 7 7 ,3 2 1
J u ly 1 t o A u g 3 1 ----------4 4 5 ,1 3 5
1 ,2 0 2 ,4 3 6
1 ,5 2 2 ,2 9 3
3 ,5 1 9 ,3 9 1
,9 5 2 ,5 3 3
B o s t o n & M a in e , b _____ A u g
2 ,2 3 2 ,4 7 6
2 ,8 4 3 ,0 3 6
6 ,7 9 1 ,5 1 3
,6 7 4 ,9 0 0
J u l y 1 t o A u g 3 1 ----------1 5 7 ,9 9 0
6 1 6 ,5 2 2
3 2 1 ,7 4 4
8 1 5 ,2 0 8
B u ff a lo R o c h & P i t t s , b . A u g
1 ,2 7 0 ,0 9 4
6 6 9 ,3 2 1
3 6 1 ,2 1 8
,6 1 1 ,7 9 3
J u l y I t o A u g 3 1 ----------8 0 7 ,1 0 0
2 0 4 ,4 0 0
7 4 7 ,4 0 0
1 8 0 ,1 0 0
C a n a d ia n N o r t h e r n -------- A u g
1 ,1 7 5 ,9 0 0
4 3 4 ,0 0 0
3 8 9 ,0 0 0
J u l y 1 t o A u g 3 1 _______ 1 ,6 5 0 ,6 0 0
6 ,3 8 5 ,9 5 7
2 ,5 7 8 ,8 9 9
’,42263,9,98855
2 ,9 6 4 ,0 5 8
C a n a d ia n P a c l f i c . a -------- A u g 7 ,4
4 ,8 5 3 ,4 7 2
5 ,4 4 3 ,9 2 9
J u l y 1 t o A u g 3 1 ----------- ' ,5 6 7 ,0 1 5 1 2 ,0 7 8 ,8 3 8
2 0 4 ,7 2 8
8 1 2 ,2 9 3
1 1 5 ,8 8 1
8 6 7 ,7 4 5
C e n tr a l o f G e o r g i a .a ------ A u g
3 5 7 ,8 0 5
1 ,7 4 3 ,5 5 5
3 8 3 ,7 2 7
J u ly 1 to A u g 3 1 _______ 1 ,7 41 0 ,6 8 3
9 2 4 ,9 6 2
1 ,0 7 2 ,5 3 0
,9 3 1
2 ,1 5 9 ,9 4 2
C e n tr a l o f N e w J e r s e y . b . A u g 2 ,2 09 7 ,0
2 ,0 2 1 ,4 0 2
1 ,8 6 0 ,2 2 5
4 ,3 1 6 ,6 6 6
,4 9‘ 3 ,9 4 1
J u ly 1 to A u g 3 1 ------1 ,1 1 3 ,3 8 8
2 ,2 9 2 ,9 0 1
9 1 6 ,8 6 0
C h e s a p e a k e A O h t o . b — A u g 2 ,6 4 2 ,5 09 4
2 , 0 8 8 ,5 7 0
1 , 7 7 7 ,3 1 2
4 ,3 8 8 ,0 3 0
J u ly 1 t o A u g 3 1 ----------- “ ,0 5 2 ,6 0 1
1 4 4 ,8 0 0
1 7 3 ,8 9 0
4 8 7 ,2 3 2
4 5 3 ,6 0 2
C h ic a g o I n d & L o u is v . b J u ly
3 8 9 ,0 8 5
3 5 0 ,2 0 8
x C h ic S t P M in n & O . b . A u g 1 ,2 2 0 ,0 1 8
1 ,0 9 8 ,5 3 0
6 8 2 ,1 4 5
2 ,0 9 7 ,0 0 8
7 2 6 ,8 4 3
,34433,9
,9 09 4
J u l y 1 to A u g 3 1 _______ 2;,3
4 5 2 ,5 7 1
1 ,2 6 9 ,8 8 1
53 1 ,9 4 3
C o lo r a d o & S o u t h e r n .b - A u g 1 ,3 7 2 ,0 5 38
9 2 1 ,7 4 8
9 7 8 ,8 9 6
2 ,5 1 0 ,2 o o
J u l y 1 to A u g 3 1 .............. 1 ,6 5 1 ,8 6 7
356
1 5 ,1 1 7
7 ,6 0 5
5 ,4 5 2
C o r n w a ll, b ---------------------- A u g
054
2 7 ,0 9 0
1 0 ,2 7 1
1 3 ,6 8 9
J u l y 1 to A u g 3 1 ----------1
,0
8
1
,7
17
,88877 ,1 9 3
2 ,6 1 6 ,3 7 0
1 ,3 0 5 ,8 9 6
* D e l L a c k & W e s t e r n , b . A u g 22,8
2 ,3 2 1 ,2 5 l
,055 55 ,4
,4 2 4
5 ,4 7 5 ,0 1 0
2 ,8 8 3 ,1 3 0
J u ly 1 t o A u g 3 1 ----------- 6 ,0
4 ,6 8 8
1 1 ,0 3 8
1 0 ,3 2 5
4 ,8 9 0
D e m e r a r a F l e e t C o -------- A u g
7 0 ,2 7 8
3 3 ,6 3 7
8 5 ,9 6 8
3 9 ,0 4 5
J a n 1 t o A u g 3 1 _______
2 8 ,8 3 7
2 0 ,6 8 1
1 0 6 ,0 7 6
9 7 ,2 4 0
D e t r o it & M a c k i n a c . a - - A u g
6 5 ,4 0 4
2 0 1 ,8 4 2
5 3 .2 0 2
.6 0 1
J u ly 1 to A u g 3 1 _______
2 0 8 ,6
1 ,2 8 6 ,2 3 9
1 ,2 0 2 ,8 5 1
4 ,3 3 8 ,0 9 2
,5 55 9 ,7 3 4
E r i e . a ____________________A u g 4 ,5
8 ,5 0 2 ,3 4 0
2 ,4 0 4 ,0 9 5
2 ,2 9 5 ,9 5 0
.8 3 09 ,2 8 3
J u l y 1 to A u g 3 1 _______ 8 .8
5 3 ,8 0 1
7 9 ,3 8 0
4 8 ,8 2 5
8 5 ,7 5 4
F o n d a J o h n s & G l o v . a .A u _
1 0 7 ,4 1 2
9 5 ,7 8 9
1 5 7 ,0 3 0
J u l y 1 t o A u g 3 1 _______
1 7 0 ,9 6 1
4 4 ,2 3 8
2 0 5 ,6 6 1
5 ,9 2 9
2 2 6 ,2 5 0
G e o r g ia R U . b __________A u g
7 0 ,4 8 1
4 2 3 ,7 3 5
2 1 ,2 2 2
4 2 7 ,9 4 3
J u ly 1 t o A u g 3 1 ----------1 6 5 ,3 2 7
5 1 3 ,9 1 0
1 5 2 ,9 5 7
5 4 1 ,8 7 4
/ I n t c r o c e a n lc o f M e x . . A u g
3 5 1 ,1 1 7
1 ,0 5 8 ,3 5 7
3 1 0 ,4 3 6
,1 1 2 ,1 2 1
J u ly 1 to A u g 3 1 ---------h G 3 ,0 7 5
2 6 5 ,0 7 6
h 7 8 ,4 4 1
2 7 0 ,8 5 9
I o w a C e n t r a l.a .................... A u g
h
9
4
,2
3
7
4
9
7
,3
8
8
h
i 2 7 ,0 1 0
J u l y 1 t o A u g 3 1 ----------5 2 3 ,5 9 8
I
n
c
.
1
0
1
,5
65
!
1
.2
9
6
In c . U
L o n g I s la n d ........................... A u g
In c . 5 1 8 ,3 4 0
In c . 5 8 9 ,9 0 5
J a n 1 to A u g 3 1 _______
1 3 ,4 8 5
1 3 ,7 3 1
3 7 ,3 7 6
3 6 ,7 8 0
M a r y la n d & P e n n a . a __ A u g
2 3 ,1 5 7
2 0 ,4 9 7
6 0 ,3 0 9
J u ly 1 t o A u g 3 1 _______
6 9 ,0 6 9
3 1 5 ,8 7 0
2 5 0 ,7 3 5
g M e x ic a n I n t e r n a t ' l ___ A u g
5 9 4 ,9 1 3
6 7 0 ,0 3 1
5 9 5 ,4 2 3
4 4 7 ,3 0 6
1 ,1 5 1 ,5 0 3
J u l y 1 t o A u g 3 1 .............. 1 ,2 7 7 ,3 4 4
2 3 7 ,4 0 5
2 1 8 ,9 8 4
M e x ic o T r a m w a y s C o — A u g
4 6 9 ,4 7 3
4 6 3 ,7 0 1
1
,7
8
9
,3
3
1
1
,0
5 4 ,4 8 7
J a n 1 to A u g 3 1 -----------3 ,611,641,14 7,137 3
3 ,5 1 2 ,5 0 9
M id d le t 'n U n lo n v & W a t e r G a p>-b
.b —
4 ,6 5 5
1 6 ,1 4 7
d e f 2 ,9 8 1
1 5 ,8 9 0
A p r 1 to J u n e 3 0 ...............
* 1 2 2 ,1 6 8
3 7 5 ,7 2 9
*1 1 7 ,2 0 1
M ln n e a p & S t L o u i s . a . - A u g
3 4 0 ,7 8 3
* 2 4 1 ,0 8 2
* 2 0 8 ,4 7 7
6 5 3 ,7 9 7
J u ly 1 t o A u g 3 1 ..............
7 4 2 ,4 8 9
8 0 9 ,3 3 3
2 ,2 0 0 ,7 7 0
7 1 6 ,2 2 2
M isso u r i K a n & T e x . b- - j _ 2 ,1 7 9 ,3 6 0
,222 3
1 ,3 4 3 ,3 1 4
4 ,0 6 9 ,0 3 7
1 ,1 3 2 ,6 1 5
J u ly 1 to A u g 3 1 _______ 41,0,00933,2
1 ,4 6 8 ,6 2 3
1 ,4 0 5 ,3 2 4
g N a t io n a l R y s o f M e x . . i ___ 1.,8 3 7 ,0 2 8 3 , 7 4 3 ,8 1 0
7 ,3 8 4 ,8 2 0
2 ,9 6 9 ,0 6 1
2 ,9
2 ,5 2 1 ,6 3 5
J « l r 1 t o A u g 3 1 .............. 7 ,7’,7
1 21,9
0 80 8

1




----- - N e t E a r n in g s -------

C urren t
Y ea r.

$

$

_

Latest Gross Earnings by Weeks.—In the table which
follows we sum up separately the earnings for the third week
of September. The table covers 45 roads and shows 12.41%
increase In the aggregate over the same week.last year.

$

P rev io u s
Y ear.
$

6 3 ,5 1 8
9 6 ,6 5 6
2 0 8 ,1 7 9

4 7 ,3 9 9
6 0 ,5 4 0
1 2 4 ,1 1 9

C 3.16B
5 0 ,6 9 8
1 1 9 ,5 5 2
2 4 0 ,8 7 0
1 ,4 4 2 ,6 9 2
3 ,2 0 8 ,5 1 0
0 ,1 8 3 ,5 9 8

8 4 ,0 3 1
1 4 2 ,1 1 5
2 8 5 ,2 7 6
1 ,0 3 8 ,8 9 2
2 ,6 0 1 ,2 9 5
5 ,1 7 7 ,7 3 3

1 1 ,6 4 4 ,7 9 9
4 , 0 9 8 ,6 7 0
4 , 0 7 9 ,0 7 0
J a n 1 to A u g 3 1 _______ 9 6 ,6 0 3 ,7 1 3 8 6 ,9 5 0 ,0 1 3 2 7 ,1 3 4 ,0 2 4 2 3 ,0 6 3 ,2 2 4
W e s t o f P itts & E r ie , b A u g
In c . 1,,5 3 9 ,7 0 0
4 7 8 ,2 0 0
In c .
J a n 1 to A u g 3 1 _______
I n c . 7,,3 9 6 ,0 0 0
In c . 1, 0 7 9 ,6 0 0
1 ,3 8 9 ,2 2 7
P h lla B a lt o & W a s h . b - - A u g 1 ,5 1 0 ,9 2 7
3 9 3 ,3 2 6
4 0 4 ,7 2 6
1 0 ,5 5 8 ,0 1 6
2 ,7 4 0 ,9 2 0
2 ,3 5 5 ,5 2 0
R e a d in g C o m p a n y —
P h lla & R e a d i n g . b ___A u g 3 ,5 1 0 ,4 6 4
3 ,0 1 2 ,9 0 3
1 ,1 3 5 ,1 9 7
1 ,2 0 3 ,6 3 8
J u l y 1 to A u g 3 1 _______ 6 ,6 0 2 ,8 6 3
5 , 9 3 0 ,3 7 5
2 , 2 3 0 ,2 8 4
2 ,2 9 8 ,6 4 0
C o a l & I r o n C o b ____ A u g 1 ,7 8 0 ,1 6 4
2 , 1 2 2 ,0 3 0
defO 1 ,9 2 6
d e f 3 0 ,7 8 6
J u l y 1 t o A u g 3 1 _______ 3 , 3 7 7 ,2 5 9
4 ,0 7 6 ,7 9 4 d e f l5 6 , 1 6 0
2 9 ,0 3 6
T o t a l b o t h c o s . b _____ A u g 5 ,2 9 0 ,6 2 8
1 ,1 4 1 ,7 1 2
1 ,1 0 4 ,4 1 1
5 ,1 3 4 ,0 3 3
J u ly 1 to A u g 3 1 _______ 0 ,9 8 0 ,1 2 2 1 0 ,0 0 7 ,1 0 8
2 ,1 4 2 ,4 7 4
2 , 2 6 5 ,3 2 0
R e a d in g C o m p a n y ___A u g
_________
1 4 7 ,8 5 9
1 1 9 ,8 3 7
J u ly 1 t o A u g 3 1 ____ .
________
2 9 3 ,3 0 7
2 5 0 ,9 5 1
T o t a l a ll c o m p a n ie s ___ A u g
________
t ,2 8 9 ,5 7 1
1 ,2 2 4 ,2 4 8
J u l y 1 to A u g 3 1 _______
________
2 ,4 3 5 ,8 4 1
2 ,5 1 6 ,2 7 7
2 ,1 4 8 ,8 2 1
R o c k I s l a n d . b .............. . . . A u g 5 ,9 7 7 ,1 3 2 : 5 ,3 3 4 ,1 2 7
1 ,8 0 9 ,0 0 9
1 0 ,0 1 3 ,2 3 4
3 ,9 0 5 ,7 0 7
3 ,0 2 1 ,7 3 9
S t L o u is & S a n F r . b . - A u g 3 ,6 5 0 ,2 6 1
3 , 1 7 1 ,9 9 0
1 ,1 1 9 ,8 9 7
0 8 9 ,2 1 7
J u ly 1 to A u g 3 1 _______ 6 ,9 5 5 ,6 3 1 0 ,0 2 2 ,6 4 5
2 ,1 7 2 ,7 1 8
1 ,7 9 5 ,4 5 6
C h ic & E a s t e r n I l l . b . - A u g
9 7 0 ,0 8 0 i
8 5 4 ,1 6 2
3 8 1 .1 7 0
2 6 7 ,8 4 1
J u l y 1 to A u g 31 ............. 1 ,8 2 3 ,2 1 0
1 ,6 2 3 ,9 2 8
6 8 1 ,1 7 9
5 0 2 ,3 5 2
E v a n sv & T erre H .b .A u g
2 3 3 ,5 8 2
1 0 6 ,9 5 6
1 1 4 ,4 1 6
8 5 ,7 4 3
J u l y 1 to A u g 3 1 ______
4 2 1 ,8 3 6
3 8 2 ,6 6 6
1 9 1 ,6 3 4
1 6 0 ,1 5 3
T o t a l a ll l i n e s - b . ____A u g 1 0 ,8 3 1 ,0 5 7
9 ,5 5 7 ,2 3 7
3 ,7 6 4 ,3 0 6
3 ,2 1 1 ,8 1 9
J u ly 1 to A u g 31 ______ 2 0 ,5 9 7 ,1 1 2 1 8 ,0 4 7 ,4 7 3
5 ,4 7 9 ,6 9 9
0 , 9 5 1 ,2 3 0
S o u t h e r n P a c i f i c .? .. _ .A u g 1 1 ,3 1 0 ,7 4 6
9 ,8 3 1 ,6 3 8
3 ,4 3 0 ,7 6 2
4 ,4 9 7 ,8 5 3
J u ly 1 t o A u g 3 1 _______ 2 2 ,1 2 5 ,3 1 5 1 9 ,5 5 2 ,0 4 3
7 , 0 7 2 ,3 0 0
8 ,5 1 4 ,7 6 6
S o u t h e r n R a i l v / a y . b - - - A u g 4 , 6 4 0 ,7 3 6
4 ,0 3 1 ,0 5 3
1 ,5 5 5 ,3 6 4
1 ,3 2 2 ,1 0 9
J u l y 1 to A u g 3 1 . . ......... 9 ,0 0 1 ,2 3 3
8 ,1 1 7 ,1 1 4
2 ,9 3 0 ,7 9 9
2 ,6 7 0 ,7 6 7
M o b ile & O h l o . b _____ A u g
8 2 1 ,8 5 6
7 4 3 ,3 3 2
2 5 3 ,0 1 7
2 3 0 ,0 5 2
J u ly 1 to A u g 3 1 . ______ 1 ,6 0 5 ,4 2 2
4 9 4 ,8 8 3
1 ,4 7 0 ,4 0 8
4 4 2 ,0 3 7
C in e N O & T e x P . b . A u g
6 6 1 ,1 1 4
6 6 6 ,6 8 8
2 3 4 ,3 6 8
2 1 7 ,2 7 6
J u ly 1 to A u g 3 1 _______ 1 ,3 2 3 ,1 2 7
4 7 3 ,3 9 6
1 ,2 9 0 ,8 6 9
4 2 5 ,5 2 8
A la G r e a t S o u t h e r n , b . A u g
3 0 5 ,4 2
8 3 ,1 0 7
3 0 4 ,3 0 3
8 5 ,9 0 6
J u ly 1 to A u g 31
1 5 4 ,4 5 1
5 9 7 ,9 2 6
5 8 5 ,3 0 0
1 6 6 ,7 6 3
G eo r g ia S o u & F l a . b . A u g
4 3 ,3 1 1
1 7 0 ,7 2 6
1 4 6 ,6 2 2
5 1 ,4 8 2
J u ly 1 to A u g 3 1 _______
8 3 ,2 0 7
8 2 ,6 7 0
3 4 0 ,2 2 8
2 8 6 ,5 8 4
T id e w a t e r & W e s t e r n ___A u g
5 ,7 1 5
83 T
6 ,5 2 4
3 73
J u ly 1 to A u g 3 1 _______
1 3 ,0 4 1
2 ,3 0 4
1 1 ,6 7 1
736
T o m b lg b c e V a l l e y ______ A u g
6 ,2 1 7
5 ,4 6 6
2 ,4 4 1
1 ,8 0 1
J u l y 1 to A u g 3 1 _______
1 2 ,6 2 1
3 ,4 5 4
4 ,1 6 0
1 0 ,0 5 7
U n io n P a c l f i c .a _________ A u g 7 ,9 4 8 ,6 1 4
4 , 1 8 2 ,6 5 5
6 ,9 7 5 ,4 7 1
3 ,4 7 1 ,1 0
J u l y 1 to A u g 3 1 ____ . 1 5 ,4 8 3 , 4 6 8 1 3 ,7 2 5 ,1 5 5
,0 2 0 ,2 2 1
6 ,8 3 4 ,4 7 8
W c s tJ e r s c y & S e a s h o r e b A u g
8 2 0 ,4 5 0
7 6 7 ,2 5 0
4 1 7 ,6 6 1
3 9 9 ,1 6 1
J a n 1 to A u g 3 1 _______ 3 ,9 8 1 ,4 8 3
8 6 3 ,7 5 5
1 ,1 1 7 ,9 5 5
3 , 7 3 5 ,7 8 3
* 1 6 ,9 5 7
4 ,2 7 4
W r lg h ts v llle & T c n n ille b A u g
z l9 ,5 7 3
2 ,5 0 3
5,714
* 3 2 ,8 0 0
J u ly 1 to A u g 3 1 ________
* 3 5 ,4 3 7
4 ,6 7 0

8

a N e t e a r n in g s h e r e g i v e n a r c a f t e r a llo w in g fo r t a x e s ,
b N e t e a r n in g s h e r e g iv e n a r c b e fo r e a l lo w in g fo r t a x e s .
g T h e s e r e s u lt s a r e In M e x ic a n c u r r e n c y .
h F o r A u g u s t 19 0 9 a d d it io n a l in c o m e Is g i v e n a s s h o w in g a d e f ic it o*
5 3 ,2 2 1 , a g a in s t $ 1 9 7 d e f ic it In 1 9 0 8 , a n d fo r p e r io d fr o m J u l y 1 to A u g . 31
th e r e w a s a d e f ic it o f $ 5 ,3 2 7 , a g a in s t a c r e d it o f $ 3 ,2 0 0 l a s t y e a r .
1 T h e c o m p a n y n o w In c lu d e s t h e e a r n in g s o f th e D e n v e r E n id & G u lf R R .P e c o s V a lle y s y s t e m a n d S a n t a F c P r e s c o t t & P h o e n ix R y . In b o t h v e a r sF o r A u g u s t t a x e s a n d r e n ta ls a m o u n t e d to $ 2 7 7 ,1 1 3 , a g a in s t $ 3 0 6 ,6 7 2 in
1 9 0 8 ; a f t e r d e d u c t in g w h ic h , n e t f o r A u g u s t 19 0 9 w a s $ 3 ,4 0 9 ,9 3 7 , a g a in s t
$ 2 ,5 3 0 ,1 7 7 la s t y e a r .
F o r p e r io d fr o m J u ly 1 to A u g . 31 t a x e s a n d r e n ta ls
w e r e $ 5 5 5 ,9 1 4 in 1 9 0 9 , a g a in s t $ 0 1 3 ,3 9 5 In 1 9 0 8 .
fc F o r A c g u s t 19 0 9 a d d it io n a l I n c o m e w a s $ 1 2 ,9 3 0 , a g a in s t $ 1 9 ,9 2 7 In
1 9 0 8 , a n d fo r p e r io d fr o m J u ly 1 to A u g . 31 w a s $ 2 7 ,9 6 5 In 1 9 0 9 , a g a i n s t
$ 3 2 ,7 0 7 la s t y e a r .
* I n c lu d e s $ 1 8 o t h e r In c o m e fo r A u g . 1 9 0 9 , a g a i n s t $ 6 7 In 1 0 0 8 , a n d fo r
p e r io d fr o m J u ly l t o A u g . 31 In c lu d e s $ 1 9 2 In 1 9 0 9 , a g a in s t $ 9 8 l a s t y e a r .
T h e e a r n in g s o f t h e D u b lin & S o u t h w e s t e r n R R . a r e I n c lu d e d In b o t h y e a r s .

Interest Charges and Surplus.
— I n t . . R e n ta ls, A c .—

R oads.

C u rre n t
Y ear.

P re v io u s
Y ear.

—-B n l. ° f N et E 'n g s .—

C u rren t
Y ea r.

P rev io u s
Y ea r.

S
$
$
$
8 1 ,6 7 8
* 2 2 ,3 4 8 * d e f 1 9 ,1 7 5
8 4 ,6 3 2
B a n g o r & A r o o s to o k . ..A
A uu g
1 0 1 ,4 4 0
1 6 4 ,8 8 3
* 3 0 ,5 2 0 * d e f3 7 ,4 G 0
J u l y 1 to A u g 31
6 4 0 ,1 8 6
6 3 0 ,2 0 8
* 7 8 2 ,3 2 2
* 5 1 8 ,4 5 7
Aug
B oston & M aine__ ____ ■Aug
1 ,2 8 2 ,8 0 6 * 1 ,3 4 6 ,4 1 7
1 ,2 6 4 ,9 8 4
* 7 6 7 ,5 4 8
J u ly 1 to A u
5 2 7 ,8 8 1
5 5 6 ,2 2 2
0 4 4 ,0 1 9
3 6 8 ,7 1 0
C e n tr a l o f N e w J e r s e y . .-A
Au g
1 ,0 9 2 ,9 0 1
1 ,0 6 7 ,7 5 3
0 5 3 ,7 0 9
J u ly 1 to A u
7 6 7 ,3 2 4
5 3 0 ,4 4 7
5 3 3 ,9 3 8
5 8 2 ,9 4 1
C hesapeake & O hio _____- AAug
ug
4 1 2 ,0 2 2
1 ,0 5 3 ,0 3 0
J u ly 1 to A u g 3 1 .............. 1 , 0 1 9 ,9 9 7
1 ,0 3 8 ,5 7 9
7 2 4 ,2 7 6
2 5 3 ,5 5 2
2 7 1 ,0 9 3
Colorado & S o u t h e r n ___•A
A uugg
C $ 3 3 ,2 9 4
c23 1 ,6 7 9
5 0 6 ,8 1 0
5 1 6 ,5 2 0
J u l y 1 to A u g 3 1 _______
CG 41.202
C 4 84 .7 0 8
6 0 ,0 6 8
5 4 ,7 1 3
Georgia R R ____________Aug
-A tlg
r tte fo ,3 1 o * d e f 3 3 ,9 5 2
1 2 0 ,2 5 6
1 1 0 ,0 7 7 * d o f 3 1 ,0 9 0 * d e t 6 5 ,8 2 7
J u ly 1 to A u g 3 1 ..............
3 ,0 5 9
3 ,9 5 8
M a r y la n d & P e n n a ______.A
Aug
9 ,5 2 6
9 ,7 7 3
7 ,9 1 7
J u ly 1 to A u g 31
7 ,0 1 7
1 2 ,5 8 0
1 5 ,2 4 0
M id d le t ’n U n lo n v & W a t:er
e r G ap —
1 0 ,0 5 1
A p r 1 to J u n e 30
0 ,4 6 7
* d e f5 ,3 G 8 * d c f l2 , 4 2 1
M isso u r i K a n & T e x a s . . .A
A uu g h 5 8 2 ,6 5 6
* 1 4 3 ,0 4 5
h 5 7 5 ,8 0 7
* 2 3 0 ,8 0 4
____
h
i
,
1
3
8
,4
5
0
h i , 1 2 3 ,7 7 0
* 2 0 ,3 9 0
J u ly 1 to A u g 3 1 . .
* 2 1 3 ,1 0 3
N e w J e r se y & N e w Y orlV
4 5 ,2 1 8
4 1 ,1 5 3
* 0 ,5 2 3
A p r 1 to J u n e 3 0 . .
* 1 8 ,8 9 2
9 3 ,0 19
8 8 ,2 5 0
J a n 1 to J u n e 3 0 . .
* 4 ,2 7 4 * ( le f 2 6 ,0 9 0
1 9 0 ,3 3 5
1 9 2 ,8 1 5
J u ly 1 to J u n e 3 0 . .
* 1 4 ,1 5 5 * d c f 6 5 ,4 3 5
8 8 0 ,0 0 0
-A u g
8 7 3 ,5 4 1
R e a d in g C o m p a n y .............A
3 5 0 .7 0 7
4 0 9 ,5 7 1
7 0 9 ,1 8 8
1 ,7 1 7 ,0 8 3
J u ly 1 to A u g 3 1 _______ 1 ,7 6 0 ,0 0 0
0 7 5 ,8 4 1

c A f t e r a l lo w in g fo r n e t m is c e lla n e o u s d e b it t o I n c o m e ,
h F ix e d c h a r g e s I n c lu d e t a x e s a m o u n t in g to $ 8 0 ,0 0 0 fo r A u g . 1 9 0 9 ,
a g a in s t $ 1 1 1 ,7 0 0 In 1 9 0 8 , a n d a d d it io n s a n d b e t t e r m e n t s o f $ 1 7 ,0 1 8 t h is
y e a r , a g a in s t $ 2 7 ,5 2 7 ; fr o m J u ly 1 to A u g . 31 t a x e s w e r e $ 1 6 0 ,1 0 0 In 1 9 0 9 ,
a g a in s t $ 1 7 9 ,3 5 2 ; a d d it io n s a n d b e t te r m e n ts w e r e $ 6 0 ,0 1 8 fo r t h e s a m e
p e r io d , a g a in s t $ 5 6 ,5 1 4 th e p r e v io u s y e a r .
P r io r to J u ly 1 9 0 7 It w a s t h e
p r a c tic e to in c lu d e t h e s e I te m s In t h e e x p e n s e s .
k A f t e r a l lo w in g fo r n e t I n c o m e fr o m o u t s id e o p e r a tio n s , o t h e r In c o m e
a n d d e d u c t in g t a x e s .
x A fter allowing for o th e r Incomo received.

— I n i . , R e n ta ls , & c .—

STREET RAILWAY AND TRACTION COMPANIES.

C u rren t
Y ear.

R o a d s.
L atest Gross E a r n in g s .
N a m e of
R oad.

W eek or
M o n th .

B in g h a m t o n S t . R y - B lr in B y L t <?« P o w e r
C a m a g u c y C o ---------C a p e B r e to n E le c Co
C a ro lin a P o w & L tC o
C e n tr a l P e n n T r a c . .
C h a r ie s t C on B y G & E
C h ic a g o R a ilw a y s Co_
C le v e P a ln e s v & E a st
D a lla s E le c tr ic C o r p .
D e t r o it U n it e d R y —
D u lu th -S u p e r io r T rC o
E a s t S t L o u is & S u b
E l P a s o E l e c t r ic ____
P a ir & C lark.sb T r C o.

C urrent
Y ea r.

P revious
Y ea r.

C urrent
Y ea r.

S
2 7 2 ,6 7 0
1 5 3 ,8 9 5
3 2 ,8 9 2
1 7 2 ,0 6 8
1 5 ,9 5 6
1 0 ,2 7 9
2 1 ,3 3 4
6 8 ,8 3 0
6 3 ,8 0 3
9 6 2 ,5 5 9
3 3 ,1 3 7
1 0 1 ,3 9 7
1 1 7 ,1 9 4
8 4 ,7 3 3
1 7 4 ,3 8 0
4 0 ,8 2 1
3 7 ,9 0 8

5
1 ,9 4 6 ,1 8 8
1 ,0 0 9 ,2 6 5
2 3 0 ,7 2 1
1 ,4 5 8 ,4 6 1
7 3 ,1 5 8
8 7 ,3 7 2
1 2 6 ,3 8 3
1 0 8 ,6 2 3
5 0 1 ,7 0 8
5 1 0 ,0 3 7
0 ,9 8 0 ,3 4 3
2 1 0 ,8 4 4
7 2 5 ,7 8 4
5 ,5 7 5 ,8 0 3
6 3 0 ,3 8 4
1 ,3 0 4 ,6 7 6
3 2 9 ,0 2 7
2 7 0 ,2 7 0

1 9 7 ,2 5 8
6 3 3 ,7 7 2
4 ,9 7 9 ,0 7 0
5 7 8 ,1 5 1
1 ,3 1 7 ,8 2 7
3 0 1 ,2 9 2
2 4 7 ,9 9 0

1 1 0 ,0 3 4
9 3 ,3 7 2
9 1 ,2 8 9
3 3 ,7 8 1

6 4 8 ,6 5 5
6 8 2 ,4 7 3
6 7 8 ,3 9 6
1 ,5 1 0 ,3 8 1

6 1 5 ,2 0 1
5 9 9 ,1 5 6
0 1 8 ,6 7 0
1 ,4 0 5 ,4 0 2

J u ly ............
J u ly . . . .
J u ly ............
J u ly
...
J u n e ______
A u g u s t ___
J u n e _____
A u g u s t ___
A u g u s t ___
W k S e p 25
A u g u s t ___
A u g u s t ___
J u ly _____
A u g u s t ___
J u n e ............
J u ly _____
J u ly _____
J u ly _____
A u g u s t ___

3 4 ,5 2 5
3 6 ,6 3 7
3 0 ,6 5 2
2 0 ,3 0 0
3 6 2 ,7 2 9 3 4 2 ,2 7 3
3 9 ,2 9 9
3 5 ,5 5 9
3 1 ,2 1 3
3 0 ,0 8 4
1 3 0 ,0 9 2 1 1 9 ,0 7 4
5 1 ,3 7 3
5 4 ,1 4 3
3 7 4 ,6 8 0 3 3 7 ,9 6 6
1 0 6 ,9 9 4 1 0 4 ,7 1 8
7 8 ,3 9 3
7 2 ,0 0 0
1 3 7 ,2 5 5 1 2 0 ,0 4 6
2 3 1 ,0 0 1 2 0 9 ,7 4 2
1 0 9 ,2 1 2
0 8 ,9 8 3
16 2 ,4 2 4 1 5 5 ,4 8 4
1 0 4 ,5 1 1 (1164,527
4 1 ,4 0 8
2 6 ,7 8 1
1 9 ,1 5 2
1 8 ,7 7 0
2 3 ,4 6 1
1 9 ,6 3 0
4 2 9 ,2 7 6 3 6 5 ,8 4 9

2 3 2 ,2 0 9
1 8 0 ,7 6 8
2 ,4 1 0 ,9 4 7
2 7 3 ,4 2 9
1 6 6 ,4 2 8
7 2 0 ,8 5 4
2 6 6 ,5 1 3
2 ,7 4 7 ,4 3 9
6 0 6 ,3 0 8
2 ,8 4 5 ,3 7 2
1 ,1 0 3 ,1 0 1
1 ,4 8 2 ,0 1 5
6 9 5 ,8 6 8
1 ,3 5 4 ,2 1 2
9 2 3 ,5 2 7
2 2 8 ,1 9 4
1 2 7 ,7 9 9
1 4 0 ,1 9 6
3 ,1 2 6 ,8 7 0

2 1 9 ,5 1 3
1 4 7 ,6 1 3
2 ,2 5 5 ,7 9 0
2 4 0 ,1 9 2
1 5 6 ,8 3 7
6 8 3 ,1 3 6
2 6 9 ,0 4 8
2 ,5 3 1 ,7 4 7
5 6 5 ,7 2 1
2 ,6 9 3 ,2 2 3
1 ,0 0 8 ,5 2 8
1 ,2 4 7 ,8 7 8
5 8 9 ,8 5 6
1 ,2 4 0 ,9 3 3
(1 8 7 5 ,0 2 0
1 4 8 ,3 8 4
1 3 1 ,5 0 3
1 1 6 ,3 9 7
2 ,8 4 8 ,8 2 3

A u g u s t ___

2 6 3 ,2 2 0

6 4 1 ,8 0 7

4 ,9 6 4 ,7 6 4

4 ,5 9 5 ,8 1 1

A u g u s t ___
A u g u s t ___
J u ly ............
J u ly ...........
A u g u s t ___
J u ly _____
J u ly _____
W k S e p 25
3d w k S e p

9 0 ,5 2 4
1 9 3 ,2 0 3
5 5,8 1 1
5 9 2 ,5 8 6
14,4 3 1
4 7 ,1 7 2
2 2 0 ,5 6 4
7 5 ,0 8 5
1 3 7 ,2 8 7

8 3 ,4 4 4
1 7 9 ,0 2 1
5 3 ,4 5 4
3 6 6 ,4 8 1
1 3 ,9 3 8
4 5 ,1 9 2
1 9 0 ,2 3 7
7 0 ,3 3 1
1 2 3 ,4 8 2

6 3 4 ,5 3 2
1 ,5 7 5 ,7 7 5
3 4 8 ,3 6 3
3 ,1 9 7 ,3 6 0
1 0 7 ,3 1 4
3 4 0 ,6 7 7
1 ,5 2 8 ,0 5 4
2 ,7 6 1 ,5 3 7
4 ,9 9 0 ,0 8 6

5 7 7 ,2 5 1
1 ,5 0 1 ,2 9 4
3 3 5 ,8 4 8
2 ,5 3 4 ,4 4 3
1 0 2 ,9 3 2
3 1 7 ,1 5 0
1 ,4 2 9 ,0 1 2
2 ,5 3 9 ,4 8 0
4 ,6 0 0 ,7 5 8

W k S e p 18
W k S e p 18
W k S e p 18
A u g u s t ___
J u ly ............
J u n o ____
J u ly ............

£1 1,6 7 5
£ 9 ,5 5 7
£ 6 ,6 3 5
9 5 7 ,2 4 6
621 ,7 5 3
1 7 9 ,6 2 5
3 4 ,4 8 4

£1 1 ,0 1 0
£ 9 ,7 5 3
£ 7 ,5 3 2
91 1 ,5 1 5
5 6 8 ,7 5 9
1 7 4 ,8 5 8
2 9 ,1 2 3

£ 4 6 4 ,2 0 0
£361 ,581
£ 2 2 9 ,7 0 0
7 ,2 0 7 ,0 5 6
4 ,1 9 0 ,6 5 7
1 ,0 1 4 ,1 9 5
2 2 3 ,5 1 3

£ 4 2 5 ,1 4 5
£331 ,0 8 7
£ 2 5 2 ,5 6 4
0 ,9 7 3 ,2 8 0
3 ,9 1 0 ,2 1 2
9 5 6 ,3 9 0
2 0 2 ,3 7 2

5
A u g u s t ___ 2 8 4 ,4 8 7
A u g u s t ___ 1 6 3 ,6 9 8
A u g u s t ___
3 4 ,3 4 8
A u g u s t ___ 1 8 1 ,9 7 0
J u ly -------1 8 ,0 2 2
A u g u s t ___
1 1 ,2 8 8
J u ly . . . .
2 1 ,8 7 2
J u ly _____
1 7 ,7 1 7
A u g u s t ___
7 0 ,0 3 1
A u g u s t ___
0 8 ,4 8 4
J u l y _____ 1 0 7 7 ,6 0 3
A u g u s t ___
3 6 ,3 8 9
J u ly ............ 1 0 3 ,3 4 0
2 d w k S e p 1 7 2 ,4 0 1
A u g u s t ___
9 2 ,2 3 6
A u g u s t ___ 1 7 7 ,2 1 0
J u ly _____
4 6 ,3 6 2
A u g u s t ___
3 9 ,2 2 1

J u n e _____
G a lv - I I o u s E le c C o _ . J u ly _____
G ra n d R a p id s B y C o. A u g u s t ___
H a v a n a E le c tr ic B y W k S e p 20
& L and C o ..
H o u g h t o n Co T r a c Co
I llin o is T r a c tio n C o . .
J a c k s o n v ille E le c Co
K a n s a s C ity -W e s te r n
L a k e S h o r e E le c B y .
L ex & In ter B y s C o ..
M Itw E le c B y A L t Co
M llw L t H t A T r a c Co
M o n tr e a l S r r e e t B y
N a s h v ille B y A L ig h t
N o r t h O h io T r & L t . .
N o r th T e x a s E le c C o .
N o r th w este rn E l e c ..
N o r f & P o r ts m T r Co
O k la h o m a C ity R y . .
P ad u cah T r & L t C o.
P e n s a c o la E le c tr ic Co
P o r tl'd (Or) B y L & P C o
I tlo d c J a n e ir o T ram
L ig h t & P o w e r ___
S t J o s e p h (M o) B y L t
H ea t & P ow er C o.
S a o P a u lo T r L t A P .
S a v a n n a h E le c tr ic Co
S e a t t l e E le c tr ic C o ___
S o u W is c o n s in R y Co
T a m p a E le c tr ic C o . .
T o le d o R y a & L i g h t .
T o r o n t o B a l l w a y ____
T w in C ity B a p T r a n .
U n dergroun d E l R y
of L ondon—
T h r e e t u b e l i n e s ___
M e tr o p o lita n D I s t .
U n it e d T r a m w a y s .
U n lt e d B y s o f S t L ._
U n lt e d R R s o f S a n F r
V ir g in ia B y A P o w Co
W h a tc o m Co R y & L t

J a n . 1 to latest date.

1 1 5 ,9 8 1
1 0 9 .7 4 7
9 9 ,8 3 8
3 7 ,6 2 8

c T h e s e fig u r e s a r e fo r c o n s o lid a t e d c o m p a n y ,
t h e N o r fo lk C o u n ty F e r r ie s .

P rev io u s
Y ea r.
$
1 ,8 6 9 ,1 6 0
9 2 0 ,5 2 8
2 1 1 ,1 3 4
1 ,4 0 1 ,3 7 5
0 7 .0 8 8
7 4 ,2 2 3
1 3 0 ,8 8 0
4 7 2 ,2 5 0
5 0 6 ,7 7 1

d I n c lu d e s e a r n in g s o f

Street Railway Net Earnings.—The following table gives
the returns of STREET railway gross and net earnings
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of Sept. 25 1909. The
next will appear in the issue of Oct. 30 1909.
------- Gross E a r n in g s -

R oads.

C urrent
Y ea r.

P revious
Y ear.

S

5

A lb a n y A H u d s o n , b
A p r 1 to .Tune 3 0 . .............
0 1 ,4 0 1
J a n 1 t o J u n e 3 0 . . .....
1 0 1 ,2 0 8
C a m a g u cy C o m p a n y . . ..A u g
1 1 ,2 8 8
J a n 1 t o A u g 31 --------8 7 ,3 7 2
D e t r o it U n it e d B y ____. . A u g
8 0 1 ,1 0 0
J a n 1 t o A u g 3 1 . ---------5 ,2 1 1 ,0 1 3
D u lu t h - S u p e r io r T r C o b A u g
9 2 ,2 3 0
J a n 1 t o A u g 3 1 - _____
6 3 0 ,3 8 1
E lm ir a C o r n in g & W a v c r ly . b —
1 ,0 5 8
A p r 1 to J u n e 3 0 . .
F a lr m t A C la r k s b g T r C o b A u g
3 9 ,2 2 1
2 7 0 ,2 7 0
J a n 1 t o A u g 3 1 . ............
H u d s o n V a lle y B y C o. b—
A p r 1 t o J u n e 3 0 . _____
1 0 8 ,4 9 0
J a il 1 t o J u n e 3 0 . ............
2 0 7 ,4 7 9
J u ly 1 to J u n e 3 0 .______
5 8 3 ,6 1 6
M llw E le c R y & L t C o .b . . A u g
3 7 4 ,6 8 0
J a n 1 to A u g 3 ) --------- 2 ,7 4 7 ,4 3 0
M llw L t , H t& T r C o .b - A u g
1 0 0 ,9 9 4
J a n 1 to A u g 31 --------6 0 6 ,3 0 8
R o c h e s t e r S y r a c u s e tc E a s t ’n b—
02 079
A p r 1 t o J u n e 3 0 _____
J a n 1 to J u n e 3 0 _______
1 7 2 !s7 i
U n it e d T r a c t Co (A lb a n y ) _b—
544 012
A p r 1 t o J u n e 3 0 _______
J a n 1 to J u n e 3 0 _____
0 9 8 272

-N c t E a r n in g s
C urrent
P rev io u s
Y ea r.
Y ea r.
$

5

5 6 ,2 8 1
( 0 ,4 7 7
1 6 ,0 6 3
0 2 ,6 2 6
1 5 ,2 3 7
1 6 ,2 6 3
1 0 ,2 7 9
5 ,0 7 1
4 ,0 1 6
7 4 ,2 2 3
4 0 ,3 0 4
3 4 ,2 7 2
6 0 1 ,4 9 0
C294 ,0 9 7
C 247.551
4 ,6 5 6 ,3 6 0 C l,9 8 0 ,9 3 1 c l ,6 8 4 ,2 5 0
8 4 ,7 3 3
3 8 ,5 8 5
3 8 ,0 2 3
5 7 8 ,1 5 1
2 5 6 ,2 2 4
2 2 3 ,0 6 5
2 ,0 4 0
3 7 ,9 0 8
2 4 7 ,9 9 0

709
2 5 ,2 1 0
1 0 0 ,0 5 2

856
2 5 ,5 5 2
1 5 2 ,4 9 7

1 4 5 ,7 9 1
2 5 0 ,6 0 4
6 3 8 ,8 6 4
3 3 7 ,9 6 6
2 ,5 3 1 ,7 4 7
1 0 4 ,7 1 8
5 0 5 ,7 2 1

2 6 ,4 8 6
4 3 ,1 6 9
1 1 1 ,8 4 2
1 9 9 ,1 9 3
1 ,3 8 8 ,6 7 4
6 9 ,0 6 3
3 5 2 ,0 8 2

3 7 ,1 15
48 0 6 5
1 8 1 .9 5 8
1 7 7 ,0 7 7
1 ,2 0 5 ,2 1 0
6 0 ,5 3 1
3 1 0 ,9 2 9

1 2 2 ,9 1 3
2 0 2 ,5 3 7

0 3 ,4 0 8
8 8 ,1 1 4

7 9 ,0 3 8
1 1 2 ,7 6 9

4 0 8 ,3 2 0
0 0 2 ,0 2 2

2 0 1 ,1 0 0
4 2 0 ,2 1 0

1 0 3 ,2 9 3
3 2 3 ,1 9 6

a N e t e a r n in g s h e r e g iv e n a r e a f t e r d e d u c t in g t a x e s ,
b N e t e a r n in g s h e r e g iv e n a r c b e fo r e d e d u c t in g t a x e s .
c T a x e s fo r 10 0 8 a r c I n c lu d e d In t h e e x p e n s e s , b u t fo r 1 9 0 9 t h e y a r e In
fix e d cnfirjfcs.

Interest Charges and Surplus.
.

Rotuis.

— I n t . , R e n ta ls, A c .—

P rev io u s
Y ea r.

C urrent
Y ear,

P rev io u s
Y ea r.

$

$

$

5

A lb a n y & H u d s o n —
3 4 ,0 3 9
A p r 1 to J u n e 3 0 ..............
J a n 1 to J u n e 3 0 ..............
0 3 ,1 7 3
D e t r o it U n it e d B y _____ A u g
1 0 2 ,9 9 0
J a n 1 *0 A u g 3 1 _______ 1 ,2 5 1 ,3 8 3




— B a l. of N et E 'n g s .—

C urrent
Y ea r.

2 9 ,7 5 0 * d e f 1 ,0 3 2 * d e f 2 ,9 2 3
5 8 ,8 1 0 * d e f l 8 , 1 0 3 * d e f 2 0 ,3 0 5
, H 2 ’8 5 0
£ 1 4 3 ,7 9 2
* 1 1 7 ,6 4 8
1 .0 8 3 ,8 1 1
* 8 3 1 ,0 9 1
.TO4 0 ,4 0 7

D u lu t h - S u p e r io r T r C o . . A u g
J a n 1 t o A u g 3 1 _______
E lm ir a C o r n in g & W a v e r ly —
A p r 1 t o J u n e JO____
F a lr m ’t & C la r k sb T r C o A u g
J a n 1 t o A u g 3 1 _______
H u d so n V a lle y R y —
A p r 1 to J u n e 3 0 . . .
J a n 1 t o J u n e 3 0 _____
J u l y 1 to J u n e 3 0 ___
M llw E l R y & L t C o .
Aug
J a n 1 t o A u g 3 1 ______
M llw L t , H t & T r C o . . . A u g
J a n 1 to A u g 3 1 .
R o c h e ste r S y ra cu se & E a ste rn
A p r 1 to J u n e 3 0 . .
J a n 1 to J u n e 3 0 .
U n it e d T r a c t C o ( A lb a n y ) —
A p r 1 to J u n e 3 0 . .
J a n l t o J u n e 3 0 _____

— B a t. of N et E 'n g s .—

C u rren t
Y ea r.

P r e v io u s
Y ear.

5
1 8 ,4 1 7
1 4 7 ,3 3 3

5
1 8 ,9 1 7
1 4 7 ,8 3 3

7 53
1 2 ,3 1 0
9 8 ,4 9 3

543
1 1 ,4 8 9
9 1 ,9 1 8

5 9 ,9 5 3
1 1 9 ,0 4 7
2 2 5 ,1 1 7
1 1 2 ,2 3 1
8 4 1 ,2 9 0
7 0 ,7 8 5
5 1 1 ,6 9 8

P rev io u s
Y ear.

$
2 0 ,1 6 8
1 0 8 ,8 9 1

5
1 9 ,7 0 6
7 5 ,8 3 2

16
* 1 6 ,5 7 8
* 9 6 ,0 3 4

313
* 1 6 ,3 9 1
* 7 9 ,7 9

5 9 ,8 8 8
d e f 3 3 ,4 6 7
1 1 8 ,9 2 4
d e I 7 5 ,8 7 S
2 2 5 ,6 5 5 d e f l 1 3 ,5 7 5
1 0 1 ,1 5 4
T 9 1 .8 3 8
7 0 2 ,8 6 0
* 5 7 8 ,6 2 2
6 5 ,0 1 1
* 4 3 ,9 8 6
4 7 5 ,4 9 3
* 2 0 1 ,3 4 1

d e f 2 2 ,4 4 3
d e f 7 0 ,2 5 9
d e f 4 0 ,6 9 7
* 8 1 ,4 6 7
* 4 5 1 ,4 2 1
* 4 9 ,7 0 8
* 2 0 7 ,6 0 9

4 3 ,6 0 4
9 3 ,9 0 4

9 9 ,1 9 0

1 9 ,8 6 4
* < le f4 ,4 4 #

2 4 ,4 8 5
1 3 ,2 7 9

1 3 9 .3 1 4
2 5 5 ,8 3 5

9 4 ,7 2 7
1 9 4 ,3 5 7

* 1 6 6 ,0 8 2
* 2 6 2 ,8 9 *

* 1 3 1 ,7 5 7
* 2 0 2 ,0 2 0

x A fte r a l lo w in g f o r o t h e r I n c o m e r e c e iv e d .

ANNUAL REPORTS.
Annual 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
n o t include reports in the issue of the “Chronicle” in which
it is published. The latest index will be found in the issue
of Sept. 25. The next will appear in that of Oct. 30.
Atchison Topeka & Santa F g Ry.
30 1909.)
The remarks of President Ripley are printed in full on
subsequent pages and in addition the principal tables from
the pamphlet are also given. Below we give comparative
statistics for several years and a comparative income account
for two years.
(■R e p o r t f o r F i s c a l Y e a r e n d in g J u n e

O P E R A T IO N S , E A R N IN G S , A c.
1 9 0 8 -0 9 .
1 9 0 7 -0 8 .
1 # 0 # -0 T .
1 9 0 5 -0 6 .
A v e r , m ile a g e o p e r . . .
9 ,7 9 5
9 ,4 1 5
0 ,2 7 3
8 ,4 3 4
E q u ip m e n t *—
L o c o m o t i v e s _________
1 ,8 7 2
1 ,8 7 2
1 ,7 0 1
1 ,6 3 3
P a s s e n g e r c a r s ________
1 ,1 7 0
1 ,1 9 3
1 ,1 3 3
995
F r e ig h t c a r s . ....................
5 4 ,6 9 8
5 5 ,1 0 8
4 9 ,7 7 0
4 4 ,2 0 4
M is c e lla n e o u s c a r s ___
298
292
221
148
O perations —
P a s s e n g e r s c a r r ie d ___
1 2 ,6 0 5 ,6 9 7
1 1 ,2 3 6 ,9 0 4
1 0 ,5 2 4 ,8 3 0
8 ,8 7 5 ,3 8 7
P a s s 'r s c a r r ie d 1 m l l e . l 1 0 8 ,0 0 4 ,2 1 5 1 ,0 2 8 ,7 7 0 ,7 8 0 0 0 9 ,0 5 1 ,3 1 8 8 4 4 ,3 6 0 ,8 4 5
R a te per p a ss, per m _
2 .0 5 2 c t s .
2 .1 0 4 c t s .
2 .1 8 3 c t s .
2 .1 3 3 CtS.
F r e ig h t (to n s ) ca r rie d
1 7 ,2 2 0 .5 9 7
1 0 ,0 1 0 ,9 1 2
1 0 ,9 7 9 ,3 9 3
1 4 ,7 8 8 ,5 0 6
F r ’t (to n s ) c a r ’d 1 m a
0 ,2 6 0 ,1 7 3
0 ,2 0 3 ,2 5 7
R a t e p e r t o n p e r m il e .
1 .0 2 6 c t s .
0 .9 8 7 c t s .
A v . r e v . tr a in I’d (to n s )
3 6 6 .0 6
3 5 1 .9 7
E a r n , p e r p a s s , tr a in m
5 1 .2 1
5 1 .1 7
5 1 .1 3
E a r n , p e r f r ’t t r a in m .
5 3 .0 5
5 2 .8 4
$ 2 .8 3
G ro ss e a r n in g s p e r m ile
5 9 ,6 2 4
59.G 25
* A ls o J u n e 3 0 1 9 0 9 2 s t e a m f e r r y b o a t s , 1 r iv e r s te a m e r , 3 t u g s a n d 4 c a r
flo a t s , a 0 0 0 s o m it t e d .

IN T E R -S T A T E C O M M E R C E C L A S S IF IC A T IO N
O p erating R even u es —

1 9 0 8 -0 9 .

1 9 0 7 -0 8 .

In c . ( + ) o
D ec. (— ) .
+ 5 2 ,3 6 3 ,9 9 9
+ 1 ,0 9 1 ,0 7
+ 1 9 2 ,8 4 4

.5 6 4 ,2 1 2 ,0 3 8
F r e ig h t .....................
P a s s e n g e r ----------------------------------------- 2 2 ,7 3 4 ,5 0 5
M a il, e x p r e s s a n d m i s c e ll a n e o u s ..
7 ,3 1 8 ,5 7 4

5 0 1 ,8 4 8 ,6 3 9
2 1 ,0 4 3 ,4 2 7
7 ,1 2 5 ,7 3 #

T o t a l o p e r a tin g r e v e n u e s .............. 5 9 4 ,2 6 5 ,7 1 7
O perating E x p e n se s —
M a in te n a n c e o f w a y & s t r u c t ’r c s .5 1 2 ,8 8 4 ,4 0 7
M a in te n a n c e o f e q u i p m e n t _______ 1 3 ,9 0 3 ,3 9 7
T r a f fic e x p e n s e s ___________________
1 ,9 0 4 ,8 2 2
T r a n s p o r t a tio n e x p e n s e s _________ 2 0 ,0 7 4 ,8 6 4
G e n e r a l e x p e n s e s _____ _____________
2 ,1 2 7 ,2 0 5

5 9 0 ,0 1 7 ,7 9 8

+ 5 3 ,0 4 7 , 9 2 1

5 1 4 ,1 2 0 ,8 2 8
1 4 ,2 4 6 ,6 2 1
1 ,7 9 6 ,2 6 4
2 8 ,3 9 5 ,5 9 0
2 .0 7 0 ,0 1 2

— 5 1 ,2 3 6 ,4 2 1
— 3 4 2 ,7 2 4
+ 1 0 8 ,5 5 8
— 1 ,7 2 0 ,7 2 6
+ 5 6 ,5 9 3

T o t a l o p e r a tin g e x p e n s e s _______ $ 5 7 ,4 9 5 ,1 9 5
P .c . op er. e x p e n se s to r e v e n u e s ..
(6 0 .9 9 )
N e t o p e r a tin g r e v e n u e ...................... .$ 3 6 , 7 7 0 , 5 2 2
T a x e s ..................................
3 ,0 1 5 ,2 1 9

5 6 0 ,0 2 9 ,9 1 8
(6 6 .9 1 )
5 2 9 ,9 8 7 ,8 8 1
3 ,2 4 4 ,5 9 8

— 5 3 ,1 3 4 ,7 2 0
— (5 .9 2 )
+ $ 6 ,7 8 2 ,6 4 1
— 2 2 9 ,3 7 7

O p e r a tin g I n c o m e . ............................5 3 3 ,7 5 5 ,3 0 3
$ 2 6 ,7 4 3 ,2 8 3
I n c o m e fr o m I n v e s t m e n t s ___
3 4 2 ,2 4 7 1
I n t e r e s t , d is c o u n t , & c ____________
8 1 6 ,1 2 8 /
671 974

+ 5 7 ,0 1 2 ,0 1 8

T o t a l I n c o m e ...........................................$ 3 4 ,9 1 3 ,0 7 8 $ 2 7 ,4 1 5 ,2 5 9
D ed u ct —
I n t e r e s t o n b o n d s ..................................... $ 1 3 ,5 4 8 ,0 8 2 $ 1 2 ,5 7 9 ,3 0 2
R e n t a ls o f t r a c k s , & c _____ __ .
8 9 2301
H ir e o f e q u i p m e n t ------------------------7 7 0 ,8 2 6 ^
1 ,1 5 7 ,0 7 1
A d v a n c e s t o s u b s id ia r y c o m p a n ie s
8 7 ,5 4 9 J
D iv id e n d s o n p r e t. s t o c k ( 5 % ) . .
5 ,7 0 8 ,6 9 0
5 ,7 0 8 ,6 9 0
D iv id e n d s o n c o m . s t o c k ---------- ( 5 % ) 5 , 1 5 2 ,5 5 0 (5 H ) 5 ,0 6 2 ,6 0 T
A p p r o p r ’n f u e l r e s e r v e f u n d ______
1 5 8 ,2 3 0
8 1 ,3 7 8
A d d it io n s a n d b e t t e r m e n t s _______
9 , 0 0 0 ,0 0 0
3 4 0 ,3 3 2

+ 5 7 ,4 9 8 ,4 1 9

T o t a l .......................................................... $ 3 4 ,5 1 5 ,1 5 7
$ 3 9 8 ,5 2 1
B a la n c e , s u r p lu s .............................. ........

5 2 5 ,5 2 9 ,3 8 0
$ 1 ,8 8 5 ,8 7 9

+ 4 8 6 ,4 0 1

+ 5 0 6 8 ,7 8 0
— 2 0 9 ,4 6 6
— 5 1 0 ,0 5 7
+ 7 6 ,8 5 2
+ 8 ,6 5 9 , 6 6 8
+ 5 8 ,9 8 5 , 7 7 7
— $ 1 ,4 8 7 ,3 5 8

R E S U L T S F O R P R E V IO U S Y E A R S — O LD B A S I S .
1 9 0 6 -0 7 .
1 9 0 5 -0 6 .
1 9 0 4 -0 5 .
1 9 0 3 -0 4
G ro ss e a r n i n g s . . . .............. $ 9 3 ,6 8 3 ,4 0 7 $ 7 8 ,0 4 4 ,3 4 7 $ 6 8 ,3 7 5 ,8 3 7 $ 6 8 ,1 7 1 ,2 0 0
O p e r a tin
g
e
x
p
e
n
s
e
s
____
5
8
,8
6
7
,9
0
1
*” * " " " “™
° A’
4 8 , 4 9 7 ,5 1 0
4 5 ,5 1 7 ,3 8 4
4 2 ,2 2 2 ,0 3 2
N et
O th e r

e a r n in g s .............. .$ 3 4 , 8 1 5 , 5 0 6
I n c o m e ...................
7 » 3 ,1 G 8

$ 2 9 ,5 4 6 ,8 2 8
1 ,3 4 6 ,4 0 2

$ 2 2 ,8 5 8 ,4 5 3 $ 2 5 ,9 4 9 ,1 6 8
8 1 3 ,9 0 2
1 ,2 4 8 ,7 7 4

T o t a l n e t in c o m e -------$ 3 5 ,5 6 8 ,6 7 4 $ 3 0 ,8 9 3 ,2 3 0 5 2 3 .6 7 2 ,3 5 6 $ 2 7 ,1 9 7 ,9 4 2
D ed u ct — _ _
B e n t o f t r a c k s & t e r m ’ls
$ 1 5 9 ,1 6 3
5 2 2 5 ,9 3 6
$ 2 9 3 ,5 5 3
$ 3 8 6 ,4 6 4
T a x e s ......................................
2 ,5 0 2 ,6 5 0
2 ,1 1 8 ,6 3 3
1 ,9 2 6 ,0 9 6
1 ,9 1 6 ,1 3 7
I n t e r e s t o n b o n d s _______ 1 1 ,4 8 7 ,9 3 5
1 0 ,6 2 2 ,1 8 4
9 ,0 1 1 ,5 1 0
9 ,4 1 8 ,8 0 0
D iv id e n d s o n p r e f. (5 % )
5 ,7 0 8 ,0 9 0
5 , 7 0 8 ,6 9 0
5 ,7 0 8 ,6 9 0
5 ,7 0 8 ,6 9 0
D iv id e n d s o n c o m . ( 5 H % ) 5 ,6 5 5 ,0 3 3 ( 4 ) 4 ,0 7 8 ,2 2 0 ( 4 ) 4 , 0 7 8 ,2 2 0 (4 )4 ,’o 7 8 ! 2 2 0
M is c e lla n e o u s
------4 4 1 ,4 2 7
4 1 2 ,2 5 3
* 8 ,2 5 0
1 1 6 ,8 0 0
I m p r o v t s & o t h . c a p ita l
e x p e n d ’s w r it t e n o i l . .
9 ,6 0 0 ,0 0 0
4 ,5 0 0 ,0 0 0
T o t a l .........
....................$ 3 5 ,5 5 4 ,8 0 8 $ 2 7 ,6 6 5 ,0 1 6 $ 2 1 ,7 1 6 ,9 1 9 5 2 1 ,6 2 5 ,1 1 1
B a la n c e , s u r p lu s .................
1 3 ,7 7 6
3 , 2 2 7 ,3 1 4
1 ,9 5 6 ,4 3 6
6 , 6 7 2 ,8 3 1

G ENERAL B A LA N C E

SH E ET

30
1908.
$

Wabash Railroad.

JU N E

1900.
$

1907.

A s s e ts —
. . . .
R ailroad , franchises, &c., Including
stocks, b o nds, &c----- ------------------ 527,908,894 005,959,077 490,638,930
5386,200
E x pend itu res for Im provem ents, & c. a 3 ,721,975 al9 ,0 2 4 ,3 8 0
6,090,417
E x p en d itu res for c o n stru ctio n --------890,744
2,925,437
8,843,531
E x pend itu res fo r e q u ip m e n t---------------------------------6,349,771
In vestm en ts a n d new a cq u isitio n s__ 7,288,124
0,267,743
6,695,281
O th er In v e stm e n ts-------------------------- 8,435,534
7,550,692
M aterials an d su p p lies_______
10,979,159 14,639,058 10,681,683
1,532,914
T raffic b alan ces-----------------------------1,496,531
1,228,586
856,168
387,224
492,474
Agents an d co n d u cto rs-------------------663,485
U nited S ta te s G ov ern m en t_________
315,785
672,087
102,106
Insu ran ce p rep aid --------------------------109,470
137,767
4,033,059
M iscellaneous a cco u n ts____________
3,814,180
3,702,858
8,215,421
Cash on h an d an d in b a n k __________ 30,036,505
9,407,865
578,946
Cash d ep osit for fu el resorve fu n d ----313,677
155,427

T o tal a s s e t s . - - ------- -------------------- 595 ,703,801
L ia b ilitie s —
Common sto c k --------------i f ; 559,500
Preferred sto ck o u tsta n d in g
.114 ,173,730
F unded d e b t (s e e “ R y . & In d .S e c . )-311 ,218,820
181,617
Rolling stock rep lacem en t fu n d ------887,643
E quip, re c o n stru ctio n reserv e---------,489,374
Rail renew al fu n d --------------------------1
120,328
Bridge renew al fu n d -----------------------95,388
Tie renew al fu n d ----------------------------313,677
F uel reserve f u n d ----- --------------------Accrued ta x e s n o t y e t d u e ....... ...........- l ,614,237
In te re s t accrued not y e t d u e ................. 3 ,700,731
678,365
C oupons n o t p re sen te d --------------------P ay -ro lls---------------------,----- ------------ " ,107,502
D ividend No. 16 on p re fe rred .............. 2 ,854,345
a,udited
, vniu'hRrs_______________
- •• ,119,555
A
v o u ch ers-------T raffic b alan ces.............
1 ,206,055
M iscellaneous a cc o u n ts p a y a b le ..........
1 501,081
P rio r accounts In liq u id a tio n -----------A dditions an d b e tte rm e n ts re s e r v e ,. 9 ooo',666
p ro fit an d loss acco u n t (su rp lu s)----- 18 ,821,251

(Report for Fiscal Year ending June

8

572,163,452 545,667,912
102,950,500 102,956,500
114,173,730 114,173,730
315,454,421 284,171,550
234,066
155,038
l",150',063
264,680
831,013
155,427
1,494,139
3,845,314
309,262
2,717,031
2,854,345
3,117,236
982,253
1,220,500
50,000

873,427
234,442
732,614
578,946
1,117,044
3,693,821
319,738
3,339,051
2.854.345
6,921,286
1.512.346
1,917,160
50,000

20, 352,865

20,066,874

T o tal lia b ilitie s .-................................ 595,703,801 572,163,452 545,667,911
a r n 1909 th ere w as ded u cted $216,384, th e am o u n t of S a n ta Fe Pacific
lands sold an d In 1908 $145,616,an d $340,332 charged ag ain st th e y e a r’s
income
ft T he e x p en d itu res for Im provem ents” ” d u rin g 1906-07 ($9,383.­
160) an d for purchase of D enver K ansas & Gulf R y ., &c. ($803,040), to ­
gether aggregating $10,186,200, are given In th e balance sh eet as only
S386.200, $9,600,000 h av ing been charged a g ain st th e y e a r’s Income an d
$200,000 ag ain st land sales.— V. 89, p . 720, 223.

Lehigh Valley Railroad.

O P E R A T IO N S , E A R N IN G S , E T C .

1006-07.
1905-06.
1907-08.
1908-09.
2,516
2,517
R oad o p e ra te d Ju n e 3 0 .
2,515
2,515
E q u ip m e n t—
574
668
622
Locom otives _______ .
657
448
441
Passenger e q u ip m e n t__
436
439
18,969
23,465
23,860
24,401
F reig h t e q u ip m e n t_____
O p e r a tio n s —
5,555,687
Passengers carried (No.) 5,812,545
5,772,570
5,250,493
P ass, carried 1 m ile___ 355,979,515 364,637,151 369,294,716 360,013,001
1.868 Cts.
1.775 cts.
1.866 cts.
R a te p er pass, per m lle. 1.797 cts.
F relg h t (tons) carried .a 12,556,220 12,304,460 13,540,584 12,016,925
F reig h t (tons) car. 1 m.b a 2 ,050,014 « 2 ,983,467 03,322,315 02,969,200
0.556 cts.
0.573 Cts.
0.544 cts.
R a te per to n p er m ile .. . 0.582 cts.
347
360
352
361
R ev. tra in -lo ad (to n s )..
$1.8897
$2.0002
$2.0494
$2.0714
E a rn . p er f r ’t tra in m lle.
$1.1020
$1.1332
E a rn . per pass, tra in m .
$1.1369
$1.0988
$9,937
$10,004
$10,904
$10,235
Gross earns, per m ile__
$
$
E a r n in g s —
$
$
6,723,658
6,470,678
6,891,289
6,395,775
P a s s e n g e r____________
F r e i g h t _______________ 17,176,709 17,103,603 18,465,286 16,138,466
2,153,255
2,165,702
2,075,898
Mall, express, &c______ 2,295,549
T otal ................ ............. 25,868,033
E xpenses—
M aintenance of w ay, &c. 3,112,598
3,966,180
M alnt. of equipm ent —
836,493
Traffic expenses_______
T ran sp o rta tio n ----------- 10,024,796
817,117
G e n e r a l..... ................. —

O P E R A T IO N S .

1905-06.
1906-07.
1907-08.
1908-09.
1,429
1,443
1,447
1,446
A verage miles o p e ra te d _
$24,612
$24,530
$22,922
O per. revenue p er m ile.
$9,117
$8,689
Net earnings p er m ile - 5,181,533
4,989,989
4,926,204
4,876,801
N o' p a ss ? c a rrle tfl'm U e :223|306,381 247:65i:678 250,459,508 227,357,209
A ver, distance each pass.
45.56
48.34
50.15
45.79
carried (m iles)----------1.747 cts.
1.742 cts.
1.684 cts.
A v. rev. per pass, p e r m . 1.749 cts.
3,909,310
4,084,695
3.974,526
Passenger tra in m ileage. 4,014,782
Pass. rev . p er tra in mile 97.27 Cts. 104.66 cts. 105.91 cts.
58.16
61.32
62.15
55.62
Av No. pass. In each tr..
No ton s carr. (rev. fg t.) 24,859,205 26,480,161 27,377,356
4,769,130
4,795,038
Tons 1 m ile (rev. fg h t.) « 4,397.809
8,621,883
9,062,057
9,039,177
F reig h t tra in m ile a g e .. . 8 ’,216,419
A verage rev . p er to n gcr
0.639 cts.
0.630 cts.
0.632 cts.
mile (revenue freigi
F reig h t tra in earnings
$3.33
$3.34
$3.42
(rev.) p er tra in m ile.
Vverap-c No. tons In each
526.27
530.47
535.25
tra in (revenue freight)
a T hree 000s o m itte d .
IN T E R -S T A T E

C O M M E R C E

C L A S S IF IC A T IO N .

for 1007-08, covering o p eratin g expenses an d " o th e r Incom e,”
, T h l » f n ™ vised to conform to su n d ry m inor changes prescribed by th e
^ . vc ^ ^ e C om m erce CommlBslon, effective J u ly 1 1908, w hich to ta l
„ each of th e tw o classes of Item s nam ed . T he figures for 1906-07
$108 »38 2 In each o i rn e
glven ln th e re p o rt for 1907-08, th e Item s in
1906-07 of whlchP th e corresponding ones ln 1907-08 hav e been changed
1908-09.
1907-08.
1906-07.
..$ 1 4 ,8 3 1 ,6 7 1 $16,175,280 $15,270,214
V?al UnndUe fr e ig h tre v e n u e ' - - - - - 13,291,831 14,011,302 14,864,262
o er° in ^ - r elevveennuuee -------------- ______ 3 905
063
4,150,890
4,326,119
Passenger
o n o aoo
son
07a
217,793
209,073
200,890
Mall rev en u e------------------------- -------373,953
383,558
406,226
Express re v e n u e ----------------------------239,181
290,232
307,726
O ther tra n sp o rta tio n rev en u e..............
229,925
280,819
185,417
M iscellaneous re v e n u e -------------------$35,510,154
$35,521,447
T o tal o p eratin g rev en u e-------------- $33,137,832
M a i n t e n a n c e ^ ? s t r u c t u r e s . . $3 273,339 $3,308,642 a$3,344,182
6,153,874 a 6 ,186,874
M aintenance of e q u ip m e n t-------------- 5 ’I i n ’zn?
778,653
771,146
11,342,927
rtl 1,149,201
S f f i o r t a t t o n V x 'p e M e a l I I - - - - - - - »•»’*®, 9 1 0 _______________________
637,940
a515.027
° CT o tal o p eratin g e x p e n s e s .................$20,575,736 ?22,312.036a$21 907^331
P e r cen t op er expenses to rev en u es.
<^2 .0 9 ^)
j 4>< \ l
N et o p e ia tln g re v e n u e ----------------- v 1 079 376
1,122,867
885,909
^ ^ Z r u o m ^ v e r a u m —
,, R x f l l u r h ( revernue

'

O th e r I n c o m e —

0u^ e op eratio n s;
..............
_def.$150,019
a$75,170
$213,917
«80,004
2,673
O ther o p e ra tio n s !---------------------- d e f.
3,269
In v e stm e n ts:
77«
571,594
555,840
D ividends on sto c k s--------------------814
12,810
48,945
In te re st on b o n d s -----------------------18,113
17,034
In te re st on real e sta te m o rtg a g e s ..
„15,604
«856,699
790,041
M iscellaneous -----------------------------o o t.o n
T o ta l o th e r Incom e____________
$704,580 $1,620,350 «$ 1 ,614,991
T o tal incom e..........................
$12,187,300 $13,704,600 $14,283,198
$3,536,060 $3,546,333
. . . - 53,544,060
In te re s t on”fu n d ed debt!*— - .
110,170
209,068
in te re s t on equip, tru s t obligations
24o,903
2,200.473
2,316,473
R entals of leased lines a n d g u aran ties 2.316.473
323,679
272,425
Miscellaneous d e d u ctio n s----------------437,001
2,068.590
1,775,264
A dditions an d b e tte rm e n ts -------------082,043
T o tal deductions from Incom e....... $6,926,140 $8,109,290 $8,258,245
$5,595,310 $6,024,953
N e t In c o m e ....................... - - - - ...........
111,250
388,606
Lehigh V alley Coal Co. n e t Incom e. - - *375,4o2
$6,136,204
$5,983,916
T n t a l n e t Incom e_________________ $5,636,612
$10,630
$10,630
D ividends on p referred stock (1 0 % ).
$10,630
D iv id e n d s o n ( S m m o n s to c ^ . . (6) 2, 120. 088 (5)2,016,740
$2,430,718

$2,430,718

25,740,074

27,432,473

IN C O M E

N et e arn in g s__________
In v e s t., re n ta ls, &c___

25,015,379

2,747,6671
2,679,179
3,915,262 18,077,887
4,348,774
859,913)
10.219.567J1 12,153,324
688,894 J
736,314

T o t a l _______________ 18,757,184 18,843,747 19,505,147
(73.21)
(71.10)
(72.51)
P . c. oper. exp. to e a rn .
7,927,326
6,896,326
7,110,849
N et e arn in g s__________
a R evenue jr e lg h t only,
b T hree ciphers (000) o m itte d .

(Report for Fiscal Year ending June

3 0 1 9 0 9 .)
O n s u b s e q u e n t p a g e s w ill b e fo u n d t h e r em a r k s o f P r e si­
d e n t E . B . T h o m a s in fu ll a n d a lso t h e b a la n c e s h e e t . B e lo w
a re th e c o m p a r a tiv e figu res for se v e r a l y e a r s .

3 0 1 9 0 9 .)

T h e fu ll t e x t of th e r em a r k s o f P r e s id e n t D e la n o w ill b e
fo u n d o n s u b s e q u e n t p a g e s.

18,077,887
(72.27)
6,037,491

ACCO U NT.

1908-09.
$
7,110,849
1,137,445

1907-08.
$
6,896,320
878,504

1906-07.
$
7,927,326
942,528

1905-06.
$
6,937.491
1,231,845

8,248,294

7,774.830

8,869,854

8,109,336

D e d u c t—
T axes ________________
T rack & bridge re n ta ls . .
A dditions an d m lsc e ll..
A pprop. new equipm ent

809,637
1,582,486
983,818

727,470
1,469,609
932,534

883,551
918,472
419,530
1,700,000

915,909
047,960
708,484
1,300.000

T o t a l ............ ............. A pplicable to In te re st. .

3,375,941
4,872,353
4,291,612

3,129,613
4,645,217
4,058,351

3,921,553
4,948,301
4,011,036

3.872.353
4,290,984
3,787,651

B alance ......................... -

580,741
. (6)210,000
i (2)530,000

586,866
(3)105,000
(1)265,000

930,665
(6)210,000
(1)205,000

509,333

def .159,259 s u r.216,866 8ur.461.665 s u r.509,333
tne tw o years iwur-uo au u iav u -y .
in te re st on th e o u tsta n d in g first refunding a n d extension bonds ($790,360
In 1907-08 an d in 1906-07 $383,160) ag ain st profit a nd loss, to w hich was
also credited dividends received on Senes "A ” a n d B debentures ow ned
(5328 550 In 1907-08 an d $111,091 In 1906-07) o u t of th e to ta ls of $370,000
an d $475,000 paid on said debentures In each year as shown above. H ad
th e incom e account em braced these several item s th e result would have
shown a n a ctu al deficit, $253,944 in 1907-08, a n d a n a ctu a l surplus of
$489,596 in 1906-07. For th e year 1908-09 th e m ethod em ployed w as
different., “ In terest on bonds” is now a n e t Item and includes th e full In ­
te re st on th e o u tsta n d in g “ first refunding a nd extension bonds (am ount
o u tsta n d in g Ju n e 30 1909, $31,476,243) a fte r d e d u c tin ' a n a m o u n t equal
to th a t p ortion of the $712,620 in te re st paid on th A&B debenture bonds
which reverted to the com pany as ow ner of th e m ajo r p ortion of such de­
b entures .
B A L A N C E S H E E T J U N E 30.
1909.
1908.
1907.
N o t e .— F or

A

£

$

$

R oad a n d e q u ip m e n t_____________ 172.765,046 171,216,676 169,684,853
1,235,601
952,868
1,080,483
Supplies a n d m a te ria ls ......................
2,411,244
2,353,593
2,424.827
Cash on h a n d ------------ ----------------25,678,432
26,750,736
16,857,716
Stocks an d bonds......................... ..
2.582.904
2,771,803
2,111,312
A ccounts c o lle c tib le .---....... ..........
5,736,763
5,675,389
5,677,165
Loans and bills receivable-----------3,704,758
3,403,696
3,210,720
A dvances a nd m iscellaneous...........
7,527,564
7,078,680
6,265,000
Cost of equ ip m en t ln suspense----355,594
♦3,045,119
D ebit to profit and loss....................
T o tal a s s e t s - . - . . ................................213.437,380 220,550.036 218.562,118
L ia b ilitie s -... ...
427 153 51,000,233
Common s t o c k .................. - - - - ...........- Sn’m l E a 38,427 153 37,009.233
Preferred sto c k ------------------------------ 1 ? 0 2 8 6 ,15 2 118 047 233 115,585,000
Bonds ------------------------------------------ 1 1 760 429
lle iS .llO
1,807,000
In te re st .............. — ................................ 3 5 6 2 ,967
3,999,103
3,453,535
V ouchers a n d p ay-rolls. ----------------597 584
587.923
775,296
In dividuals an d railro ad s.................. 5 1 0 U 13
487,261
634,872
Taxes a cc ru e d -------------------------------6,028
5,516
6,361
H ospital a c c o u n t----------------------------450.000
1,280,000
2,130,000
Loans p a y ab le ----------------------- -------174.000
371,180
901,564
Bills p a y ab le .............. ...............................
2,149.958
807,614
387,662
U nexpended a p p ro p ria tio n s ------------ 3,419,247
954,338
2,503,781
M isc e lla n eo u s-------------------------------445,638
Credit profit an d loss.............................
T o tal liabilities
. ...
.

- K

'S

....................... 213.437.389 220.559.036 218,562,118
„nd loss $2,604,818 discount on sale of tre a su ry

W

S

y

a m o u n tin g to $ 96 ,3 1 0 .— V. 89, p . 287. 226.

f e

“a

lum

New York New Haven & Hartford Railroad.

(Report for Fiscal Year ending June

30 1 9 0 9 .)

P r e s id e n t C h arles S . M ellen , N e w H a v e n , C o n n ., S e p t . 17
w r ite s in su b s ta n c e :

,
,
__The. business depression to w hich reference was m ade
G e i ie r a l
continued UiRil the1a u tu m n of 1908, w hen some lm provein th e la st r e p o r t A n tim e advanced this Im provem ent becam e more
m ent was notlcean e. a s um e au v a
( cost w blch vva8 m aintained

$2,027,370
o u tsta n d in g . $ l ° o -0fM 0O .
...
t ln „ rosS a tiltc equal to those of
th J y e a er l 90n7 S a e T n ’ne? e x e e 'e d in fth e ^ m e .^ o w ln g 1 to th e com pletion of
the many1 Im provem ents of the p a st few years. ...

p. 778.




c o m p a r a tiv e G ro ss E a r n in g s , S h o w in g E ffe c t o f B u s in e s s
R eco very
T h e r e fr o m .

D e p r e s s io n

and

1900.
1908.
1907.
1909.
1907.
1908.
$
S
$
$
$
$
Ju ly 4,082,289 5,029,598 4,401,823 Jail. 4,308,382 3 079 417 1,055 890
Aug. 4,815,109 5,350,064 4,528,132 Feb. 3,749,129 3 359 707 3 ,826 500
Sept. 1,802,222 5,000,836 4,819,232 Marcli 4,612,499 3 871 018 4 532 911
Oct
4,827,014 5,196,680 4,935,338 April 1,600,396 4 149 089 4 j)92 471
N o v . 1,744,515 4,747,061 4,611,180 May 5,033,045 4 132 563 4 761 760
Dec. 4,455,780 4,172,018 4,355,090 Ju ne 4,971 ,056 4 357 266 4 827 268
P resen t prospects Indicate th e largest gross revenue In o u r history.
C e n t r a l N e w E n g l a n d R v .— T he ex p ectatio n of a re tu rn on y o u r com pany's
in v estm en t In th e C entral Mew E ngland K y. has been realized by the action
of the directors of th a t com pany in au th o rizin g the p ay m en t from the n e t
earnings for tho y ear of 4% in terest on th e general m ortgage income bonds
(V. 89, p. 592, 409).
I m p r o v e m e n t s , e t c .— T he six -track co n stru ctio n of the H arlem R iver &
P o rt C hester ItU . has been co n tin u ed , a n d 90 % of th e to ta l work lias been
com pleted. T he in stallatio n of an a u to m a tic signal sy stem Is now under
w ay, a n d will be com pleted on o r a b o u t J a n . 1 1910.
The second-track construction betw een Seym our and W aterb u ry has
been com pleted. T he new m ain line track s in W aterb u ry are in service,
tog eth er w ith th e passenger a n d freig h t facilities. T he new m achine shop,
engine house a n d locom otive coaling s tatio n a t Meriden Ju n ctio n , W ater­
b u ry , will l)e read y for occupancy on o r a b o u t J a n . 1 1910. Im provem ents
a t Jlaw lcyville, including changes in track s an d extension of freight y ard ,
have been com pleted. T he second-track construction betw een W aterbury
and B ristol is progressing, a n d a p o rtio n of the line from W aterb u ry to
S um m it, 8 miles, is In service. T he work betw een Sum m it and B ristol
is a b o u t 50% co m pleted, a n d th e driving of the tunnel Is now under w ay.
It will pro b ab ly req u ire a b o u t t
years to finish the e n tire Im provem ent.
W ork on the v iad u ct in New H aven (which carries t lie s tre e t railw ay tracks
form erly located In S ta te St.) was continued during the y ear, and cars arc
now being o p erated ov er th e sam e. T he work will be com pleted on or
before O ct. 1 1909. T h e new double track connecting line a n d tunnel from
Providence to E a st Providence has been in service since D ecem ber 1908.
N um ber of grade crossings elim inated: S ta te of New Y ork, 1; C onnecti­
c u t, 31; M assachusetts, 6; to ta l, 38.
W ork Is in progress a t G lenbrook, C onn., on th e erection of ap p ro x i­
m ately one mile of fo u r a n d six -track c aten a ry construction, beginning a t
the easterly term inus of th e p resen t overhead con stru ctio n , a sh o rt distance
cast of S tam fo rd . C o n tract has been aw arded for two electric freig h t loco­
m otives. This w ork Is for ex p erim en tal purposes to d eterm ine fu tu re
s tan d a rd s in connection w ith a proposed extension of o u r electric service.
The eleetrll)cation of the New C anaan B ranch has been com pleted.
Im p ro v em en ts and a d d itio n s to signaling an d Interlocking have been
m ade a t num erous points. Bridgo rep airs, renew als an d stren gthening of
bridges to p erm it of o p eratin g heav ier locom otives have been m ade a t 28
points. T he work on th e new draw bridge over th e T au n to n R iver a t
Som erset has been com pleted. T he new Shaw ’s Cove draw bridge a nd
X Iantic lift bridge have been equipped w ith m achinery for electric o pera­
tion. A t th o T ham es R iver draw bridge. New London, th e double tracks
have been discontinued a n d th e track s have been g au n tlc tcd in ord er to
perm it of o p eratio n of h eav ier pow er. T he new bridgo over Jackson S t.,
Holyoke, has been com pleted.
[The im provem ents and b e tte rm e n ts charged to “ cost of p ro p e rty ”
aggregated $2,672,061.— I5d.J
E q u i p m e n t . — N o w eq u ip m en t to th e value of $7,211,251 has been p u r­
chased d uring th e year, consisting of 54 coaches, 30 com posite cars, 12
baggage cars, 2 postal cars, 5 horse and carriage ears, 5,179 box cars, 7
steel ear lloats, one tu g , 2 dou b le-tru ck s tre e t railw ay flat cars w ith crane,
a nd 2 s tre e t railw ay snow-plow s.
S t o c k .— T here has been no increase d u rin g the y e ar In th e capital stock
Issued, b u t the a m o u n t of stock o u tsta n d in g in the han d s of the public
has been Increased by th e sale of 21,013 shares of tre a su ry stock, the pro­
ceeds of w hich w ere used to acquire o th e r p ro p e rty (V. 88, p. 1373).
The cap ital stock of the Old Colony H R . Co. has been Increased du rin g
the y e ar by tho slao of 5,000 shares, tho proceeds of which have been a p ­
plied to reim b u rsem en t of e x p en d itu res for b e tte rm e n ts by y o u r com pany.
R o m l s , e t c .— The o u tsta n d in g Indebtedness of ttie com pany a nd of Its
leased lines In th e hands of th e p u b lic has been increased as follows:
Boston A New York Air Line H R . Co. 1st M. 4'?,', bonds sold
..$1,002,000
P a w tu x e t V alley R R . 1st M. 4s ($180,000) a n d Stafford Springs
510,000
S t. R y. Co. 1st M. 5s ($350,000) sold _____________ _______
In stallm en ts received on subscriptions to convertible d eb en tu res,
viz.: 3.Us of J a n . 1 1900, $7,300; 0s of J a n . 1 ’08, $12,010,225. 12,017,525
O ne-year 4% no tes— D ue Feb. 2 1910. $100,000; due Mareti 18
1910 (V. 88, I). 719), $ 3 ,1 5 0 ,0 0 0...........
.................................. 5,250,000
___________ $19,379,525
T o t a l ________ ______________________ . .. .
Tw o-year d eb en tu res paid ($600,000 4 U % ; §7,810,000 5% ;
$1,300,000 5 H % ) , & c _______ ______ . _ .........................
9,746,100
Not Increase N. Y. N . II. & H artfo rd R R . Co
__ __ .....$9,633,425
X. H. * N o rth am p to n ref. con. M. Is sold, $2,400,000, less
consol, m lge. an d sin!:, fu n d . 6s p aid . $1,1 17,000
. . . 1,283,000
T otal Increase....... ........ .......................................... ..............................$10,916,425
Tho 560,000 5% 1st m tgo. bonds of tho M ilford & W oonsocket R R . Co.
which m a tu re d Dec. I 1908 a n d th e $10,000 O'/,', 1st m tge. bonds of Hie
Milford F ran k lin A Providence R It. Co. which m atu red J a n . ! 1909 were
purchased by y o u r com pany and are held in Its tre a su ry .
N e w S t o c k I s s u e . —-There will m a tu re b etw een J a n . 9 1910 a n d O ct. 1
1910 th e following obligations for which th e com pany is responsible, viz.:
J a n . 9 —3-yr. 5% d e b s .. $3,500,000 \Ich . 18 — 1-yr. 4% n o te s .$ 5 .150,000
100,000
J a n . 10—3-yr. 5% d e b s ..
50,000 Apr. 1— H ous. HR. 1st 4s
Feb. 2 —1-yr. 4% otes .
100,003 O ct. 1— W oonsocket &
Pascoag 1st 5 s . . . —
100,000
Meh. I— Shore Line R y.
Co. 1st 4 H s __________
200,000
T o tal .........................$ 9 ,2 0 0 ,0 0 0
Total
lit Is expected to p ay tho $1,912,000 of B oston Clinton A F itch b u rg R R .
(Old Colony) 5% first m ortgage bonds m a tu rin g J a n . I 1910 from th e p ro ­
ceeds of tiie sale of Old Colony R R . Co. stock.]
The au th o rized e x p en d itu res for Im provem ents a n d e q u ip ­
m e n t not com pleted and delivered on Ju n e 30 1909 were
$12,959,057, of w hich It Is estim ated th e re rem ains u npaid .$11,959,956
In o rd er to provide th e necessary c ap ital to m eet m a tu rin g obligations
a nd e x p en d itu res for Im provem ents, It Is proposed to give to the stockhold­
ers a n d convertible d eb en tu re holders of the com pany th e rig h t to subscribe
for a d d itio n al shares of th e cap ital stock a t th e ra te of S i25 p e r sh are.
Each sto ck h o ld er Is to be e n title d to subscribe for one sh are of new stock
for each four shares held. T he holders of convertible d eb entures will
have tiie sam e rig h ts of subscription as if th e y alread y held th e stock into
which th e ir d eb en tu res a re la te r co n v ertib le. P ay m en t of subscription
will be In fo u r equal Installm ents a t in terv als of six m onths. The directors
recom m end th a t th e a u th o rized cap ital stock be Increased by the addition
of 100,000 shares of StOO each (V. 89, p. 779).
L i t i g a t i o n . —-Tlie litig atio n In which th e New York W estchester A B oston
R R . " ’as involved has been te rm in a te d , a n d full a u th o rity given for the
prosecution of th e work of c o n stru ctio n , In accordance w ith plans sa tis­
factory to yo u r com pany (V. 87, p . 1420, 480: V. 88, p. 507, 625).
By a decree of th e Suprem e Ju d icial C ourt of th e Com m onw ealth of Mas­
sach u setts of May 1008, In th e su it of th e A ttorney-G eneral a gainst the
New York New H aven & H a rtfo rd R R . Co., y o u r com pany was enjoined
from holding directly o r Indirectly th e stock of a n y M assachusetts s tre e t
railw ay a fte r Ju ly 1 1909. In consequence of this decree It became neces­
sary to sell th e stocks anil Indebtedness of the W orcester & W ebster S tree t
R y. Co., and of th e W ebster A D udley S tre e t R y . Co., which cam e Into the
tre a su ry of y o u r com pany through th e m erger w ith the Consolidated R ail­
way Co. of May 31 1907, th u s closing o u t th e la st financial In terest of your
com pany In M assachusetts s tre e t railw ays. The only in terest n o t elim i­
n ated Is the endorsem ent upon th e shares of the Springfield R y. Com panies
and the New England In v e stm e n t A S ecurity Co. These endorsem ents,
und er decrees of th e courts th u s far ren d ered , we m ust a p p aren tly continue
until the liquidation or th e tru sts th ey rep resen t, lint the earnings of the
properties owned by b o th tru sts seem to be am ple to enable them to m eet
all obligations w ith o u t calling upon y o u r com pany to m ake a n y p a y m e n ts
u n d e r the g u a ra n ty . (V. 89, p. 163; V. 88, p. 10 0 2 , 945, 625,506.)
N e w A g r e e m e n t a s t o N e w Y o r k T e r m i n a l s .— B y reason of the s u b stitu ­
tion of electric m otive power for steam w ithin th e lim its of tiie city of New
Y ork, required by law, a n d the need for larger facilities a t the G rand C entral
T erm in al, Involving th e e x p en d itu re of a large a m o u n t of m oney. It was
deem ed advisable to join w ith th e New York C entral A H udson R iver H R .
Co. Ill a new agreem ent for the use and occupancy of the term inal. This




agreem ent is now in effect, and while It entails a n a d ditional expense to
your com pany for Its use of the term inal, It Is recognized as a n a tu ra l sequencc to legal re quirem ents a nd the changed conditions (V. 89, p. 225;
v . 88, p. 231, 53).
B o s t o n R R . H o l d i n g C o . — C o n t r o l o f B o s t o n <& M a i n e R R .— T he G eneral
Com t of the C om m onw ealth of M assachusetts a t Its 1909 session authorized
the Incorporation of the B oston R ailroad H olding Co. for th e sole purpose of
acquiring anil holding th e whole o r a n y p a rt of th e cap ital sto ck , bonds and
o th e r evidences of Indebtedness of the B oston A M aine R R . an d of voting
on all certificates ot stock so acquired a nd held, a nd of receiving a nd collectlng dividends a nd In terest upon said sto ck , bonds and o th e r evidences of
indebtedness (V. 88, p. 1621, 506).
r
a u th o rity of th e A ct of th e M assachusetts L egislature approved
Ju n e 18 1909, the B oston R ailroad H olding Co. has organized anil entered
in to co n tra c ts for the purchase of th e large block of B oston A M aine R R .
stock representing a su b sta n tia l control of th e o u ts ta n d in g stock of th a t
com pany, w hich w as form erly acquired In th e In terest of yo u r com pany,
a n d your directors have en tered Into agreem ents to purchase all the stock
anil bonds of th e B oston R ailroad H olding Co. th a t will be Issued fo r p a y ­
m ent of th e sam e. The result of this tra n sac tio n will be to give to yo u r
com pany a n Indirect control of a stock in te re st in the B oston A M aine R R '
through y o u r ow nership of all the o u tsta n d in g c ap ital of the B oston R allroail H olding Co. C om pare V . 89, p. 40. 161, 528, 777.
th is very satisfacto ry conclusion of th e controversies w hich grew out
0 t in J?,Urn ^a ?e b}L t!u*
E ngland N avigation Co. of a large stock in te r
section, securing m ore a d v an tag e o u s arra n g e m e n ts w ith connecting lines
and a m ore econom ical a d m in istra tio n of th e properties
O P E R A T IO N S

A N D

F IS C A L

RESU LTS.

com parison of 1908-09 a nd 1907-08 figures w ith 1906-07 is
very Inaccurate because <I) th e results of th e la te r years a re m ade up in
accordance w ith the new system of a cc ounting prescribed by th e In te r
.State Commerce Commission a n d (2) th e y em brace changes explained in
re p o rt for 1907-08, V. 87, p . 869.
*
1
N o te .— T h e

1908-09.
1907-08.
1900-07.
1905-06 .
Miles operated Ju n e 30
2,044
2,017
2,060
2,057
E q u ip m e n t—
Locom otives __ _
1,228
1,236
1 ,176
1,135
Passenger c ars............
2,437
2,356
2,202
2,164
F reig h t c a r s . ___. . .
34,184
29.821
19,776
19,26 1
O th e r cars ________
1,213
1,034
1,056
674
O p e r a t i o n s — R evenue passengers and freig h t onl y .
Passengers c a rrie d __ . 75,957,983 75,555,969 75,333,810 69,219,147
Passengers carried 1 m ilel 101052871) 1399700530 1371516126 1255625792
K ate per pass, p e r mile
1.630 CtS.
1.643 Cts.
1 .623 cts.
1.683 c ts.
F reight (tons) c a rrie d .. . 19,968,272 18,851,844 21,370,230 20,259,296
F reight (tons) c a r’d 1 m .1872419423 1787661842 1027680950 1888605411
R ate p e r ton per mile .
1 .420 cts.
1.414 cts.
I .436 Cts.
1.407 cts.
P ass, earn s, p er m . of rd .
$12,887
$12,887
$12,989
$12,210
P ass, e arn s, per train m..
$1 74
SI 66
$1 65
$1 62
F reig h t e arn , p.m .of rd
$13,021
§12.350
$13,779
$13,213
F reig h t e arn . p. tra in m .
$3.85
$3.43
$3.40
$3.50
A v. No. pass. tr. m iles.
93
89
84
81
A v. No. tons tr. m ile ..
271
243
238
236
E a r n in g s —
S
$
i
$
Passenger de p artm e n t . 26,323,469 26,279,301 26,758,929 25,252,124
F reig h t d e p a r tm e n t..._ 26,595,970 25,281,435 28,386,704 27,217,118
M iscellaneous_______ . a t , 428,192 a l ,489,411
a 156,303
435,080
53,050,147

55,601,936

36,080,307 38,213,558
P . e. of exp. to earnings.
(66.38)
(72.03)
N et earn in g s__________ 18,267,324 14,836,590
N et revenue from o u t - 1
side op e ra tio n s_____1,214,3071 1,212,089
N et earns. SS. lines__ )
l
5498,074
N et C onnecticut C o __ C3,644,315 02,745.758

635,127
3,615,900

T o t a l __________ . . .
E xpenses—
M alnt. of w ay, A c__
M atnt. of e q u ip m e n t.
T r a f fic ___________ .
T ran sp o rta tio n ____
G e n e r a l__________ .

54,347,631

T otal n e t re v e n u e .. _ 23,125,046
Taxes _________
__ 3,146,126
D ividends on stocks
In te re s t on b o n d s___
M iscellaneous Income.
R ents received______

52,984,322

6,130,000
5,900,357
309,000
22,491 ,376
1,242,968

19,679,820
1,959,333
674,433
1,609,581
350,142

24,273,309
D e d u c t—
In t. on bonds, d e b s., Ac. 10,424,932
R entals of leased lines . 3,956,294
R en tals and g u ar. dlv.
o th e r th a n above . . 1,978,281
H ire of e q u ip m e n t____
460,430
8% on s to c k _____
. 7,883,842
Im p ro v ’ts A b e tte rm ’ts
Insurance fu n d ___ . _
M iscellaneous__
__

22,002,882
3,592,230

17.701,736
2,810,729

15.054.805 18,410,646
894,700'
1,925,288
714,991 j
1,889,002
152,586
363,458

14,951,007
1,411,472

10,816,056

20,488,520

17,126,764

7,556,045
4,581,182

5,732,743
5,604,846

,005,793
,935,594

1,781,209
628,861
7,783,262

6,904,988

,467,092

19,293,111
3,338,306

257,889

764,285

,000,000
326,998

T o t a l ________ ______ . 21,720,922 22,333.640 18,500,400 10,735,477
B alance for y e a r ..
d e f.453,613def.2,516,693 sur.1,988,051 sur.391,287
a “ M iscellaneous” gross earnings in 1909 consist of “ all o th e r revenue
from tra n s p o rta tio n ,” $243,140, a g ain st $229,948 in 1903; an d “ revenue
from operations o th e r th a n tra n s p o rta tio n ,” $1,185,052, a g ain st SI ,259,163
III 1907-08; in 1907, of re n ts, $102,398; telegraph receipts, §53,905.
t> These are th e n e t earnings of New E ngland SS. Co. for 3 m o n th s.
BALAN C E

S H E E T .J U N E

.
S te a m ra ilro a d .

___ _____

30.

( A s to c h a n g e in

1909

1903, s e e
1908.

V.

87, p. 869.)

5

. ____ 1 13,083, 1071
54,008,603 246,308,465 244,885,748
F loating e q u ip ., s tre e t railw ay a nd
o th e r p ro p e rties__________________ 40,361,004
Stocks of o th e r com panies__________ 75.399,549 13,613,811
0,804,801
Bonds of o th e r com panies__________
9,397,869 53,119,488
A dvances to and e xpenditures on
H arlem R lv. A P o rt C hester R R . . 22,294,617 15,614,346
R eal e sta te . P ark S quare, B oston, and
S outh S tre e t, N . Y ., held for s a le .. 5,109,752
5.210,000
5,210,000
A dvances to leased lines not control'll,
for im provem ents and b e tte rm e n ts 2,659,527
3,843,523
7,835,867
M aterials, fuel and su pplies----. 3,406,911
4,595,171
5,004,403
3,020,565
2,111,802
2,019,450
T raffic balances.
325,335
264,793
4,340,956
10,361,827
3,611,025
19,913,158
6,553,782 14,550,013
Due on subscription of debentures .
22,327,619
Cash In banks a nd on h a n d . . .............. 16,662,321 10,571,742
7,612,370
4,177,645
3,581,537
4,028,280
1,103,703
704,464
1,188,599
A ccident and casualty fund (a t c o st).
275,344
102,992
800,636
D eposit for H arlem R iver A P o rt
C hester first m ortgage b o n d s _____
238,680
247,520
736,600
N. II. A N orth. Co. sink, fund (c o st).
935,172
884,779
O ther sinking, Ac., fu n d s ..............
353,297
255,814
456,904
P repaid Insurance, pier re n ta ls, Ac.
14,105
413,308
94,355
T otal a s s e ts .. . . .

381,400,353 308,198,235 374,770,120

M a i n t e n a n c e , A d d i t i o n s , A c . — T he roadw ay, tra c k a nd stru c tu re s w ere
m a intained during the y e ar a t a cost of $904 75 p e r mile of ro ad . E ightyseven com m ercial sidings to Induce business have been constructed: net in­
crease in sidings, 17.32 miles. Tie renew als were 1,228,923 cross-ties a nd
29,357 sw itch ties, a t a cost of $409,022 71, charged to operatin g expenses;
103.15 miles of new 75-Ib. steci rail w ere laid in m ain-line traok, releasing
60 to 70-lb. worn rail, a n d th e re w as charged net to operatin g expenses
$39,861 a nd to cap ital account $41,973; 230,493 cubic yards of gravel, stone
a n d slag ballast were p u t u n d e r m ain-line tra c k a t a cost of $132,026, of
which $97,710 was charged to " b a lla s t” a nd $34,916 direct to “ track -lay in g
a nd su rfa c in g ,” both c ap ital accounts.
W ooden trestles aggregating 10,829 feet were filled In, a nd cost thereof
$28,080, including culverts, charged to o perating expenses. T he re ­
placem ent In steel or strengthening for heavy traffic of 36 bridges was a u ­
thorized; of these 12 have been com pleted a n d 24 will be com pleted by Ju n e
30 1910; th e cost of this w ork during th e p a st y ear was $327,150, of which
there was charged $213,794 to cap ital account a nd $108,350 to operation.
A t large expense a p o rt has been created a t T a m p a , F la ., w here facilities
for th e handling of phosp h ate, lum ber a nd coal have been provided. In
order to reach various phosphate m ines, a n extension of th e P la n t C ity
A rcadia & Gulf R y. Is being m ade a line from the S tarkc-W annee branch
Is u n d e r construction; tra c k s Into th e mines of the C oronet P h o sp h a te Co.
an d th e M utual M ining Co. have been com pleted. The line betw een B ostic
an d Monroe has been Im proved, to enable the S eaboard to handle shipm ents
of coal originating on ttie Carolina Clinchlleld & Ohio R y.
.381,400,353 368,498,235 374,770,120
New freight houses or su b sta n tia l ad d itio n s to term in al facilities are u n d e r
w ay a t R ichm ond, W ilm ington a nd A tla n ta , a nd a t F c rn a n d ln a the phos­
N o t e . — C o n t i n g e n t L i a b i l i t i e s . — The following con tin g en t liabilities are
p h ate elevator, w hich was burn ed ju s t prior to th e receivership, has been
n o t Included in th e b alance sh eet of Ju n e 30 1900:
replaced from the Insurance. T h irty statio n s have eith e r been constructed
(1) J o in t liab ility w ith o th e r roads for an y deficiency on foreclosure of or su b sta n tia lly added to .
,
,
,
,, ,
bonds of th e B oston T erm inal Co.;
[E xpenditures for Im provem ents a nd b e tte rm e n ts charged to capital a c ­
(2) G u a ra n ty to rep ay preferred stock of th e Springfield Ry. Cos., $3,­ count have aggregated $1,197,742, viz., “ c o n stru ctio n ,” $1,084,312; less
387,950, a n d of th e New E ngland In v e stm e n t & Security Co., $ 1 ,000 ,000 , $12,033 for charges prior to receivership, $1,072,279; eq u ip m en t, $113,430.
a t 105 on liq u id atio n .
“ C o nstruction” includes chiefly: R ight of w ay a nd sta tio n grounds, $100,­
(3) G u a ra n ty of principal an d In terest of th e deb en tu res of th e P ro v i­ 4 3 1 ; bridges, trestles a nd culverts, $252,052; rails, $96,400; b a lla st, $97,710:
dence Securities Co., $19,899,000.
dock a nd w harf p ro p e rty , $204,127. F o r equipm ent there was expended
(!) G u a ra n ty of principal and in te re st of gold debentures of the New $863,453, less charged to renew al reserves, $750,023; balance to capital
England N avigation Co. in case of term in atio n of lease of the Old Colony account, $113,430.]
G e n e r a l R e m a r k s . — T he earnings of the Seaboard Air Line R y . (2,609.41
R R . Co., $3,600,000.
(5) G u a ra n ty of principal a n d in te re st of th e 4% 50-year refunding average operated miles) durin g the p a st y ear on business Interchanged w ith
consolidated m tge. gold bonds of th e New H aven & N o rth am p to n Co., su bsidiary lines aggregated $1,096,519, as follows:
Atl & B irm . Air Line R y -$646,885 P la n t C ity Arc. A Gulf R y _ .$130,206
d a te d Ju n e 1 1006, 52,400,000.
(0) G u a ra n ty of principal a n d in te re st of tire 4% 50-ycar llrst a n d refu n d ­ Florida W est Shore R y ___ 2 73,200|T al. P erry & S. E. R y ------8,411
IC ataw ba Valley R y ---------37,816
ing gold bonds of th e New Y ork & S tam ford Ity .. $274,000.
(7) G u aran ty of principal a n d in te re st of th e 4 % 30-year 2d m tge. bonds
In com parative statem e n ts in this re p o rt, w here figures for op e ra tin g ex­
of the H arlem R iv er & P o rt C hester R R .,d a te d Ju n e 1 1881. T he principal penses for th e year ended Ju n e 30 1908 are show n, th e sam e have been re ­
of these bonds, to g eth er w ith in te re st to m a tu rity , has been deposited w ith vised to agree w ith th e classification of expenses as ordered by In te r-S ta te
the F arm ers' L oan & T ru st Co., tru ste e .
Commerce Commission effective as of J u ly 1 1908.
Item s No3, 3 a n d 4 w ere included in 1907 in the item of ‘‘debentures of
subsidiary com panies” ($24,173,000). See V. 85, p . 350. V. 87, p. 779, 594
R A I L S I N M A I N L I N E ( T o t a l 1909, 2,594 M i l e s S t e e l , 8 M i l e s I r o n . )
E A R N I N G S O F C O N T R O L L E D C O M P A N I E S — Y E A R S E N D . J U N E 30.
8 0 - lb . 8 0 - l b . 7 5 - l b . 7 0 - l b . 08-13.63-65-10. 60 - l b . 0 8 - l b . 0 0 - lb . A C . I r e n .
777
216 201
80
499
357
301
8
(1) C e n t r a l N e w E n g l a n d R a i l w a y .
1909- 40
123
638
212 198
23
529
371
368
9
1908, 40
123
G ross
N et
O t h e r -------- D e d u c t i o n s --------- B a l a n c e [ o r
598
198 181
23
680
219
451
29
1907- 40
123
F is c a l
R evenue.
R evenue.
In c.
'T a x e s . R e n t s . A l l I n t .
Y ear.
466
228
181
23
767
230
460
29
190640
124
Y ear—
$
$
$
$
$
$
$

1007.
$
97,080,400
230,400
O u ts t’g sto ck s sub sid iary co m panies.
D eben's, incl. mergod r ’ds a ssu m e d -. 175,808,875 173,595,750 146,065,400
2 1,173,000
D ebentures of su b sid iary com panies.
llonded d e b t, lncl. m erged r'd s a s ’m ’dL 58,961,000 56,819,000 32,339,000
28,500
Heal e sta to m o rtg ag es-------------------2,108,000 25,232,000
B onded d e b t c o n stitu en t c o m p a n ie s..
R eserve for eq u ip m en t a n d personal
8,630,462
7,630,483
. 11,455,985
2,501,122
2,507,154
1,511,666
6,167,859
4,354,239
. 3,579,040
55,700
3,077,700
. 5,250,000
887,479
333,421
M iscellaneous accounts, p a y a b le ____
210,093
558,331
287,222
U npaid w ages_____________________ .
230,753
202,941
183,617
R entals of leased lines a cc ru e d _____ .
3,093,502
. 4,611,897
3,714,419
1,982,460
2,461,028
. 2,028,640
1,012,934
. 1,103,703
1,077,847
846,709
899,189
MIscell. reserve a n d suspense a c c 'ts ... 1,115,257
884,779
935,172
N . H . & N o rth . Go. sinking fund
. 2,385,508
1,403,569
767,770
. 12,909,443 12,860,490 17,402,039
P rofit an d loss a cc o u n t.
1009.
$
100,000,000

I A a b ilttie s -

1908.
$
97,895,700

1 9 0 8 -0 9 .-2 ,5 3 0 ,2 1 3
931,030 50,849 77,017 214,190 570,307 SUr.120,065
1907-08 2 ,1 0 8 ,7 8 0
403 ,6 1 7 03,898 07,749 91.822 305,058 sur. 2,286
1 9 0 0 -0 7 .-2 .1 5 3 .3 0 0 d cf.4 3 1 ,0 4 7 50,548 50,880 106,829 103,301 d ef.6 4 7 ,5 6 9
N o t e . — The

foregoing com parison m ade by th e ‘‘C hronicle” is otdy a p ­
pro x im ate, ow ing to changes in accounting. “ R en tals” in 1908-09 in ­
clude " H ire of e q u ip m e n t,” $95,669.— E d .
— N e w E n g . N a v . C o .— — I I . A N . Y . 7 ' . C o .—
(2) S t e a m s h i p C o s .—
1907-08.
1008-09.
1907-08.
1908-09.
$702,426
.$4,944,825 $4,365,059 51,087,106
571,670
814,728
. 4,054,381 3,883,545
$481,514
1,325,427

$272,378
40,541

$130,756
1,718

.$1,801,341 $1,806,941
$52,298
.
$55,825
975,550
1,048,690
7,707

$312,019
$11,567
20,412
1,466

$132,474
$9,820
20,478
1,167

$1,104,515 $1,035,555
$696,826
$771,386

$33,445
$279,474

$31,765
$100,709

.
.

O ther income .
D e d u c t — Taxes

Im p ro v em en t on p iers.
T o tal deductions —

.

$890,445
910,896

(3) T r o l l e y C o s . — C o n n e c t i c u t C o m p a n y a n d R h o d e I s l a n d C o m p a n y .
[The R hode Island Co. o p erates the trolley lines controlled in R hode
ivhlcnce Securities Co. in " EElec
lectric
Railw
sectio n .
Islan d . See P rovidence
tric R
ailw ay
ay” Section.
The C onnecticut C om pany (wholly ow ned) o p erates u n d e r c o n tra c t all
ys, electric-lighting a n d w ater-su p p ly com panies In Cou­
the s tre e t railw ays,
n e cticu t ow ned a nnt!
d controlled by th e N . Y. N . H . & H artfo rd R It. Co.
See “ Consolidated R ailw ay in “ Electric R ailw ay” Section._
---- C o n n e c t i c u t C o . -----— R h o d e I s l a n d C o .1908-09.
1007-08.
1907-08.
1908-09.
E a r n in g s —
$6,416,338 $6,221,160 $3,876,746 $3,943,430
146,030
172,894
145,073
233,702
1 1 ,998
28,302
13,047
.
28,428
C hartered cal's
39,778
41,822
56,076
55,775
Sale of p o w e r..
63,255
62,1 16
P a rk earnings .
26,003
16,846
29,687
15,355
A dvertising . .
26,225
764,368
21,822
r 1,178,782
$7,088,831 $7,290,940 $4,160,785 $4,194,503
O p e r a tin g e x p e n s e s —

5 $572,107
450,556
M aintenance of e q u ip m e n t-..
753,010
O peration of pow er p la n ts .
. 1,624,210
.
568,376
G eneral exnenscs______
M iscellaneous expenses.
. 337,345

$709,124
524,317
785,446
1,645,096
549,945
331,253

$198,113
265,071
368,120
1,008,566
474,083

$310,732
347,850
397,458
1,058,996
449,638

.$4,305,604 $4,545,182 $2,313,954 $2,573,674
$3,683,228 $2,745,758 $1,846,831 $1,620,829
22,519
32,173

O ther incom c.

$2,745,758 $1,879,004 $1,643,348
1,409,797 1,464,927
(?)
$178,421
$469,207
.$3,644,315
(?)
[The " n e t incom e" of th e R hode Island Co. ($469,207 in 1908-09), it is
understo o d , is included in one o r more of th e item s of “ o th e r Income ' in
th e s ta te m e n t of N . Y. N . H . & If. R R . above. The n e t earnings of the
“ C onnecticut C om pany" ($3,644,315) a p p e a r as a sep a ra te item in the gen­
eral income acco u n t above, while th e In terest and o th e r charges of the Con­
n ecticu t tro lley , &c., com panies, including th e $1,039,167 p aid as re n ta l to
the C onnecticut Ity . & Ltg. Co., a re included in th e fixed charges of the
p a re n t com pany.]— V. 89, p. 779, 594.

T axcs, re n ta ls, & c......... ..........

38,913

Seaboard Air Line Railway.

{Report for Fiscal Year ending June 30 1 9 0 9 .)
T h e r ep o rt m a d e to th e C ou rt b y R e c e iv e r s S . D a v ie s W ar­
fie ld , R . L a n c a ste r W illia m s a n d E . C. D u n c a n s a y s in p a r t:
R e c e i v e r s ' C e r t tf - l c a te s .— An Issue of $4,250,000 5% receivers’ certificates.
Series “ C ," was m ade J a n . 1 1909, th e proceeds thereof to be applied to the
p ay m en t of th e new eq u ip m en t acq u ired , a d d itio n s an d b e tte rm e n ts,
eq u ip m en t tru s t obligations a n d obligations of th e S eaboard Air Line R y.
d uly covered by th e decrees of th e courts h aving ju risd ictio n . These cer­
tificates are payable a t th e term in atio n of th e receivership, or p rio r thereto.
(C om pare V. 88, p . 370, 54: V. 87, p. 1605.)
E q u i p m e n t .—Tlic eq u ip m en t was m a in tain ed a t a cost of $2,37.),146:
included In th is a m o u n t Is $31,170 for value of e q u ip m en t destroyed or
retired from service, credited to eq u ip m en t renew al fund, a n d also $243,500
for d ep reciatio n , cred ited to reserve funds.
New eq u ip m en t was co n tracted for during th e y ear was as follows: 15 tenwheel locom otives, 509 v en tilated box cars, 200 ph o sp h ate cars, 50 ballast
ears, 5 first-class passenger coaches, 5 express cars, 3 mail an d baggage cars
a nd 5 passenger a n d baggage cars. Of the above there were y e t to be re­
ceived J u n e 30 1909 168 v e n tila te d box cars a n d 92 ph o sp h ate cars a nd 3
m all a n d baggage oars a n d 2 passenger and baggage cars.




O P E R A T IO N S A N D

F IS C A L

R E SU LTS,

SEABO ARD

A IR

L IN E .

1906-07.
1905-06.
190
1908-00.
1907-08.
2,011
2,611
A verage miles o p e ra te d .
2,609
2,611
3,350,744
3,049,622
Passengers carried (No.) 3,402,794
3,552,105
Pass, carried t m ile___ 161,907,388 168,325,875 160,290,375 135,826,215
2.359 c ts ................ .........
2 .2 2 1 cts.
Av, ra te per pass. p. mile 2.156 cts.
-----------E arn s, p. pass, tra in m llel05.028 cts. 109.864 cts. 107.549 els.
0,426,991
6,064,558
Tons carried (N o .)_____ 6,517,564
6,243,668
Tons carried 1 m ile. .
1006383,083 036,280,025 1023498,330 901,550,942
________
1.112 Cts.
Av. ra te per ton per mile 1,129 cts.
1.124 cts.
207.03
194.02
Av. tons per tr. m . (No.)
200.07
185.83
$2.30
................
E arns, per fr’t tr. mile _.
$2.32
$2.08
$6,283
................
E arns, p er mile of ro a d .
$6,305
$6,004
IN T E R -S T A T E C O M M E R C E C L A S S IF IC A T IO N .

T he figures for 1907-08, covering o p e ra tin g expenses, “ o th er incom e”
a nd “ d e d u ctio n s,” as show n below, have been revised to conform to sun dry
m inor changes prescribed by th e In te r-S ta te Commerce Commission, ef­
fective Ju ly 1 1908, w hich to ta l $9,576 In each of the th ree classes of item s
nam ed. The figures for 1906-07 a re , how ever, repeated as given In th e ;re ­
p ort for 1907-08, the item s in 1900-07, ot w hich th e corresponding o n e sJn
1907-08 have been changed, are show n by the le tte r a .
1907-08.
1906-07. ’
1908-09.
$
$
$
O p e r a tin g r e v e n u e —
3,739,013
3,780,494
P assenger______________________
- 3,491,728
F reight . . . ______
- - - 11,357,204 10,524,716 11,382,204
1,411,720
1,242,021
Mail, express, &c......................
1,602,745
T o t a l______________
O p r a tin g E x p e n s e s —

M aintenance of w ay, &c----------------M aintenance of e q u ip m e n t___ . T raffic expenses________
T ran sp o rta tio n expenses___________
G eneral expenses___________________

16,451,677

15,075,449

16,405,379

2,358,142
2,375,146
584,804
5,570,652
557,288

2,145,661
2,413,204
552,094
6,248,291
610,194

<z2,310,500
u 2 ,514,737
0546,834
06,763,638
0450,014

T o ta l___________________________ 1 1,446,032
N et e arn in g s....... ..........
—
5,005,045
Incom e from re n ta ls ....... .....................- 21,478
Incom e from o th e r so u rc e s ------------38,681
C ar per diem and m ileage.......................
05,868
___________
T o tal incom e___________________
D e d u c tio n s —
* In te re st on funded d e b t . ------------In te re s t on receivers’ c e rtific a te s.- In te re st on equip, tru s t ob lig atio n s.
In te re st on floating d e b t----------------T a x e s ------- -------- -------------------------R ents for lease ot ro a d ---------- -------R ents for o th er p r o p e r ty ................. ..
Car per diem a n d m ileage...................
O utside o p e ra tio n s......... ......................

11,970,343 012,585,784
3.705,106 03,819,595
19,807
20,015
16,297
10,501
1,320
(O) A

5,161,672

3,743,602

03,855,699

1,107 ,367
300 ,140
313 ,807
194 ,957
023 ,935
48 ,925
70 ,663

3,102,600
8,630
347,335
257,030
600,500
48,925
61,847

2,880,572

’

Y , 608

~ 244 ,438
261,592
514,008
48,925
45,325
0320,966
C r . 1,826

T otal d eductions. _____
______
4,673,485
4,429,475 04,314,000
Balance, surplus or deficit_________ s r.$488,187 def. 685,874 def.$458,301
* The $230,400 for Interest on th e Seaboard Air Line R y .-A tlan ta B irm ­
ingham 1st M. 4% 30-yr. gold bonds is charged not to the income of the Sea
board Air Line R y ., b u t to the A tla n ta & Blrm . Air Line R y. in open acc’t
B A L A N C E S H E E T J U N E 30.
1909.
1908.
1907.
$
$
*
5
R oad, eq u ip m en t, & c_-------------------- 130,156,762 128,059,019 128,506,725
________
2,178,160
Special equipm ent fu n d -------------4,148,799
4,916,323
4,785,470
997,683
1.042,695
Securities owned by p ro p rietary eos_. 1,042,695
1.105.000
1,105,900
Preferred stock In tre a su ry -------------- 1,105,900
495,000
496,600
496,000
Common stock in tre a su ry ---------- - - Leasehold Interest in W ilm ington R y.
108,500
108,500
108,506
Bridge (c o n tra ).................. ............. - 5.760.000
5,760,000
5,760,000
A tl. & B. A. L. R y. 1st M. (contra)
1,436,621
3,551,826
Cash (lncl. In tra n s it & w ith fiscal ag ts) 3,213,294
3,213
519,665
250,532
298,343
Agents a nd c o n d u c to r s ------- ----------552,869
609,790
688,850
Individuals a nd c o m p a n ie s ...............
2,009,154
1,064,730
M aterials and supplies on h a n d --------- 1,170,812
349,725
286,545
470,853
F reight claims In suspense.....................
112,645
T all. P. & So. E. construction account
180,541
C ataw ba Valley R y . construe, ace’t . 5,180,929
0,094,270
(i
,155,199
Due from subsidiary com panies------763,173
096,392
1,102,952
69,958
287,274
R eceivers’ special a c c o u n t.
2,669.758
‘2,293,256
Profit a nd loss....... ...............
C O N S O L ID A T E D

A s s e ts

T o t a l..................................................-.1 5 0 ,5 6 1 ,5 1 2 157,024,108 154,405,189

1000.

L i a b i l i t i e s —•
$
Common s to ck _______________
37.510.000
P referred s to c k ____
25,000,000
ISonds (see " R y . & I n d .” See.)
04.171.000
R eceivers’ certificates______________
7.510.000
C ollateral gold n o te s____________
700,000
S eaboard Air I.lne R y. A. & II. first
m ortgage bonds (c o n tra )______
5.700.000
W llm . R y. Bridge bonds (c o n tra ).
108,500
E q u ip m en t tru s t n o te s________
5.853.000
A udited vo u ch ers_________________I
1,338,503
Pay-rolls an d salaries____________ I I
570,280
A ccrued Interest n o t d u e ___ _
"
714,377
M atured In te re st___________
2,205,010
R eserve f u n d s __________________H I
751,885
In t. on acc’ts & m tges. subskl. cos
1,008,385
Due p ro p rietary co m p an ies_________ 2,280,455
R eserved for stock p ro p rietary c o s ..
39,900
Open acc’ts, accrued tax es a n d m lsc.
884,871
N otes p a y a b le ................... . . .
. . 2,490,074
P ro llt a n d loss____
_

1908.
5
37.510.000
25,000,000
04.184.000
3.200.000
700,000

37.510.000
25,000,000
04.185.000

5.700.000
108,500
0,785,000
2.289.409
583,203
704,505
1.207.410
1,504,952
1,241,351
1,955,030
39,900
828,095
4,135,427

5.700.000
108,500
7.417.000
2,083,079
078,110
037,310
715,159
822,01
8 19,095
2,171,442
39,900
1,155,210
3,900,180
1,390,217

B te e U a A ™
w ? m h * tth e flf cal y c ar 35 miles— 4,294 tons— of new
15 000 tnn» T?nbm n . la,d. ln m a la tra c k s. Since th e close of th e y ear
In m a i n t r a ^ i
f ^new rai.Is bave bcen Purchased a nd will be laid
in m ain tra c k s a n d
° f WlntCr- 1 ’381’489 tles bave been lald
s l g n l T
h
°[
com pany’s lines w ith a u to m a tic
now „ m tP i? grossing as rap id ly as th e Intricacy of th e work perm its; th e y
has t h u s h e P n lnv maa elty . 1’1 °° miles of track ag e. A bout $800,000
e x p en d itu re
le.ndc. d Anr ell? J ! rols eoutlon of tills w ork, a nd a fu rth e r
S n S n nf
a t «450, ’00« ’ has bcen authorized for 1909-1910.
w ork $312 9 18 h . . ? n / y
Gradf
C r o s s i n g s .— In th e prosecution of th is
been re iin b u ried hPe m
expended during th e year, $78,165 of which has
$131 499 In s been i h ? r P T ? al\y by ,o th ?,rs P articip atin g in th e cost, and
com pleted d u r W i m h f f d t0 leas?d railroads. A ccounts for th is work
charged to t h e £ i l Ci e“ r ’ am o u n tin g to $190,764, have been closed and
tu re m ade b v t h k m m ? y S in s t r u c t i o n account. The to ta l n e t expendiAs th r
? ^ m p an y to Ju n e 30 1909 bas been $4,279,823.
presen t M avor of r
atlons,’ a , satisfactory agi-eem ent w ith the
ra M v i i r S , n ^
, hf P cc,n arrived a t a nd a portion of th e w ork of
ta
tlo
n
U
n
f
it
wli7bP
^
w
Is.
\ ° be u n d e rta k e n this season w ith th e expec­
ta tio n tn a t it will be carried to com pletion during th e y e ar 1919.

eQU‘PJ?ent

O P E R A T IO N S A N D

T o ta l------------------------- ---------------.159,501,512 157,024,108 154,405,189
* A fter charging to profit and loss 5170,000 discount on receivers’ certifi­
cates
cates an d cred itin g Item s aggregating 558,315.— V. 89, p. 000, 594.

O P E R A T IO N S , E A R N IN G S , E X P E N S E S ,

1908-09.

1907-08.

&C.

1900-07.

1905-00.

Revenue pass, carried.
707,053
079,253
091,585
018,337
Rev. pass, carried 1 mile 37,137,717 38,502,381 40,284,349 34,413,938
Rate per pass, per mile. 2.404 cts. 2.517 cts.
2.002 cts.
2.094 cts.
Rev. freight tons carried 2,555,351
2,943,982
3,285,475
3,281,500
Ions carried one m ile. . 171,817,332 180,751,208 237,879,907 227,172,240
Av. rate per ton per mile 0.951 cts.
0.987 cts.
0.851 cts.
0.85 cts.
IN T E R -S T A T E

CO M M ERCE

E a r n i n g s —•

C O M M IS S IO N

C L A S S IF IC A T IO N

1908-09.
.$1,41 1,258

.

1907-08.
$1,524,022
259,147
969,120
107,614
07,049

1906-07.
$1,699,036
283,204
1,072,969
166,190
58,770

-$2,785,587
E x p e n s e s —•
M aintenance of w ay a n d s tru c tu re s. . $445,281
.
327,791
100,884
. 1,027,071
_
78,491
Sleeping a n d din in g c ars.
.
58,383

$2,980,958

$3,280,805

$553,319
351,831
85,250
1,135,788
80,026
46,572

2,252,250

P er cen t of expenses to revenue-

.$2,037,901
.
(73.15)
. $747,686
.
203,600

$2,252,787
(75.42)
$734,172
186,345

$2,252,250
(68.65)
$1,028,015
170,283

o th e r Income-

.
.

$544,086
140,209

$547,820
30,405

$858,332
13,968

Sleeping a n d dining c ars.

O ther In te re st______________
O ther deductions (rents, &c.)

-

915,124
170,124
06,219

O p e r a tio n s —

1908-09.
2,289

.

3690,295

$578,232

$872,300

$862,805

-

28,937

$859,700
980
28,546

$859,700
2 5»50*1
42,062

_ $891,742
- $201,447

$889,224
$310,993

$927,830
$55,530

30.

1909.
1908.
1909.
1908.
A s s e ts —
8
8
L i a b il it i e s —
S
S
Itoad & cqulpm’t . 10,705.852 46,692,632 Common stock__ 122,000,000 12,000,000
Mack. Transp. Co. 237,372
237,371 Preferred sto ck .-.101,000,000
,000,000
Lake Super. Term.
Bonds & car trusts 231,587,811 23,477,013
& Transfer H it.
70.8S9
38,300 Canadian Pac. Hy.
Mineral Hange Hy. 532,295
532,295
guar. int. a d v .. 5,262,235 4,797,955
Stc.MnrleUn.D.Oo.
57,199
57,199 Canadian Pac. Hy.
Western Exp. Co.
25,000
general accounts
2,988
62.98S
Current accounts*
South Sh. Land Co 193,508
200,007
miscellaneous . .
672,177
475,801 M. R. & O. ands.
3,497
5,739
270.812
Material . _____
371,010 Bills payable____
..
60,432
Trust equipm ent.. 240,882
Current accounts. 472,985
133,463
Profit and loss___ 3,258,981 3,028,954 Acer. Int. & taxes. 364,938
362,134
Equlpm’t replace­
ment fund.........
158,497
68,866

10

F IS C A L

R E SU LTS.

1907-08.
2,288

1906-0f.
2,288

1905-06.
2,287

40,688,676
46,126,902
44,597,405
/ 90,805,436 762
5 1 7 704 739 950 90 ‘)
l^ llc ts
1 745 cts T30’9',0 ’90J
20,135,853 23,262,049 22 549 467
2152627,465 2296970,964 2010500 035
1.045 cts i 070
$17,389
$18,313
H i::::!

* Docs n o t Include electric stre e t railw ays, 46rm iles.
—I N T E R -S T A T E C O M M E R C E C L A S S IF IC A T IO N
T he figures for 1907-08, covering operatin g expenses, hire of e q u ip m e n t,
&c., have been revised to conform to su n d ry m inor changes prescribed by
Jhe In te r-S ta te Commerce Commission, effective Ju ly 1 1908. T he figures
for 1906-07 are, how ever, repeated as given in the re p o rt fo r 19 0 7 -0 8 . th e
item s in 1906-07, of which the corresponding ones in 1907-08 have bcen
changed, are shown by the le tte r a .
1900-07.
1907-08.
1908-09.
Miles of steam roads o p e ra te d .
2,242
2,248
2,243
E a r n in g s —
$
$
$
13,844,220 13,763,696
22,486,005 23,014,439
.. 1,196,916
1,213,926
1,273,514
Malls ---------.
526,452
511,964
509,943
M iscellaneous
965,085
936,589
IN C O M E AC C O U N T

E xpenses—

-

BALAN C E SH EET JU N E

Miles operated J u n e 30

P
a s s ^caarnr llea
c d T1 mmile
P e * ---79
"" ~7a?'a
J ass.
2 ,4 2 6 ,7 3 6
R ate p e r pass, p e r mile* 1.698 cts.
reight (tons) carried*. 20,414,314
I'l t (tons) c a r d 1 mile 2124899,447
R ate per ton per m ile .. 1.083 cts.
Gross earn s, per m ile * ..
$17,625

D u lu t h S o u th S h o re & A t la n t ic R a ilw a y .
30 1 9 0 9 .)
R e s u lts o f o p e r a tio n s fo r se v e r a l y e a r s w e re a s b elo w :

(Report for Fiscal Year ending June

O p e r a tio n s —

tbe

T o ta l......................

. 41,060,525

38,990,749

39,528,698

.. a 5 ,036,341
_ <24,887,2 57
.
484,863
.019,168,968
a644,291

4,609,147
4,352,218
512,662
18,573,874
924,240

4,251,566
4,730,779
516,417
17,800,498
964,595

.030,221,720
- 0(73.607)
.010,838,805

28,972,141
(74.305)
10,018,608

28,263,855
(71.500)
11,264,843

N et earnings stre e t railw ays," steam
b oats, elevators, &c_______
-

Incom e from r e n t s __________
Incom e from stocks and bonds.
In te re s t a nd m iscellaneous___

64,069

65,722

83,414

010,902,874
. 1,674,835

10,084,330
1,712,273

11,348,257
1,789,933

. 09,228,039
207,663
.
300,318
.
89,566

8,372,057
218,160
381,784
92,134

9,558,324
218,701
325,672
74,527

N et In c o m e ............................................<19,825,586
9,064,135 10,177,225
D e d u c t—
R entals of leased ro a d s.................
5,183,515
5,240,433
. . 1,284,757
626,423
H ire of e q u ip m e n t_________________ .
R en t of tra c k s, y ard s and term inals
45,677
28,624
In te re s t a c c r u e d ----------------------------------------------- 1,769,905
1,859,357
28,785
28,785
Sinking fund p a y m e n t_____________ .
A dditions an d b e tte rm e n ts _________ . .
60.537
41,099
D ividends on preferred stock, 6 % . _
_
188,988
188,988
D ividends on com m on sto ck ____ ________ . . . ( 7 ) 1 ,8 9 1,6 3 3 (0)1,628,373

a T he deficit as above, $1,409,662, In 1907-08 was decreased by $ 5 4 3 , 2 0 6 ,
being th e a m o u n t of "con tin g en t fund representing u n a p p ro p ria te d sur­
pluses for 0 years ended Ju n e 30 1907,” leaving deficit for y ear $666,450.
G E N E R A L B A L A N C E S H E E T J U N E 30.
1906.
1909.
1908.
1907.
A s s e t s --$
$
5
$
Total assets___ 52,046,459 51,458,598
Total liabilities.52,016,459 51,458,598 C onstruction & equlpm ’t 65 ,251,692 64,302,383 57,294,454 52,439,706
—V. 89, v. 110.
Stocks & bds. o th e r cos.zlO ,103,145 10,103,095 10,102,345 10,535,095
R cal e s ta te _______ _
1,361,708
248,852
243,052
1,383,873
S team er, elevator, &c "
1/69,260
121,522
121,522
121,522
B o s t o n & M a in e R R .
Cash _________________ 4 ,383,958
2,964,216
2,075,271
2,705,023
Bills receivable______
512,250
968,491
979,331
979,847
(Report for Fiscal Year ending June 30 1 9 0 9 .)
Sinking fu n d s _______ II
902,537
996,689
842,454
785,609
M aterials and s u p p lie s .. 4 ,043,817
4,292,757
4,053,543
4,727,594
P r e s id e n t L u c iu s T u t t le , S e p t. 14, w r ite s in s u b s ta n c e :
Due by agents, com pa­
G e n e r a l R e s u l t s . — The general business depression continued to affect
nies, Individuals, &c_ 3 ,678,733
5,251,804
4,642,138
4,582,487
ou r earnings unfav o rab ly u n til th e beginning of D ecem ber 1908; during Im p ’t acct. leased ro a d s. 1 ,636,160
1,302,174
1,293,435
1,596,282
the first five m onths of th e fiscal y e ar covered by th is re p o rt, th e operating E lim ination grade cross.
408,113
599,152
202,818
495,623
revenues decreased. In com parison w ith those of th e sam e m o n ths of the M iscellaneous_________
413,090
296,406
207,801
157,886
previous y ear, $1,633,536. D uring th e last seven m o n th s of the fiscal
y e ar th e o p eratin g revenues, com pared w ith th e previous y ear, Increased
T otal a sse ts..... ............. 91,651,613 90,365,500 85,777,149 79,976,462
$2,171,486, giving th e re b y a n et Im provem ent of $537,950. The gross
L ia b ilitie s —
Income for th e y ear, how ever, was $1,491,127 less th a n for th e y ear ended C apital stock (see " R y .
Ju n e 30 1907, when earnings were a t th e ir m axim um .
& I n d .” S ection)___ 31,421,591
31,395,266 31,022,166 27,787,871
As o p eratin g expenses were reduced $708,285, th e n e t corporate Income Bonds (see “ R y . & I n d .”
gained $1,036,106; a n d , a fte r th e p a y m e n t of all charges and d ividends, a
Section) ____ _____ _ 42,073,000 30,373,000 30.486,500 $0,710,744
surplus was left of $529,143, In com parison w ith a deficit for th e previous R eal e sta te m o rtg a g e ..
594,800
y ear of $1,409,662.
N otes p a y a b le _________
8,450,000
11,053*,666 ; s'.Voo",009
F u n d e d D e b t . —On April 1 1909 th is com pany Issued $11,700,000 4 H %
P rem iu m on B. & M.
bonds, payable April 1 1929, from th e proceeds of which th e lloatlng In ­
stock s o l d __________
2,837,219
5,199,137
4,939,511
5,182,026
debtedness was fully p aid, leaving no notes p ayable o u tsta n d in g (V. 88, P rem . on bonds so ld __
120,000
474,510
120,000
C u rrent b ills__________
3,034,984
1,444*, 598
1,662,962
1,603.586
521,838
662,477
510,238
533,233
Expenditures fm P ro p erty additions and U npaid w a g e s_________
bette rm e n ts wcrc^ m ade d u rin g th e fiscal y e ar to a to ta l of $2,239,745, A cct. bonds to be Issued
1,006,944
"232I665
rn -M m tS S ) f e meni ’ 5 ‘ •115 ’291: rcal e sta te a n d rig h t of w ay, To pay B .& I,.R R .b o n d s
£ ntl culvcrts, $79,498; a d d itio n al m ain tra c k s, D ue cos., Individ., &c_. 1,647,356
1,787,890
1,807,190
1*.4*6*0",626
$00,868, elim ination of highw ay grade crossings, $324,239, and block a nd DIvs. a nd Int. unclaim ed
17,642
15,949
16,787
21,409
o th e r signal a p p a ra tu s, $287,726. From th e to ta l ($2,239,745) the fol­ A ccrued Int. and rentals
822,368
735,559
724,994
718,641
lowing deductions were m ade: Collections from leased roads on account R en t leased roads Ju ly 1 1,231,772
1,215,129
1,209,337
1,206,675
° f 1n!|’rovc,II1(ln.i" lnia »e u,P.on £££lr; properties prior to Ju ly 1 1908, Si l l ,461, Bond Interest due Ju ly 1
251,810
329,191
261,871
274,060
buildings d estroyed by Inc, $83,435, an d proceeds of land sold, $162,158; DIv. on com . s tk . Ju ly 1
407,145
474,542
411,415
465,445
leaving th e n et ex p en d itu res $1,582,691. This am o u n t was d istrib u te d Lease a cc ts.,su n d ry R R s. 1,824,245
1,823,079
1,823,079
1,823,079
to lcaseT^roads4^ ^ ^ 1?*111 an<l cciul|)m cnt- 5949,308; to incom e, $41,099; In ju ry fu n d ___________
150,000
150,000
C ontingent fu n d _______
410,592
543,206
Suspense a cc o u n t______
801,228
902,537
Sinking funds_________
842,454
996,689
" 785,609
542,373
A ccrued ta x e s _________
467,191
615,804
495,010
proceeds a n d salvage of e q u ip m en t sold or d estro y ed —am o u n tin g to Profit a n d loss_________ 2,659,929
2,414,404
3,437,528
2,591,591
$313,891— leaves th e n et cost of th e y e a r’s new e q u ip m en t a t $2,148,408
This ex p en d itu re has been d istrib u te d In th e y e a r’s acco u n ts as follow sT o t a l .............................. 91 ;651,613 90,365,500 85,777,149 79,976,462
C harged to o p eratin g expenses for depreciation an d renew als $940 992- to
dining car e q u ip m en t for d epreciation, $5,072; to profit a n d loss for de­
£ Stocks and bonds owned are su b sta n tia lly as on Ju n e 30 1907— see
preciation prior to J u ly 1 1907, $90,408, as prescribed u n d er accounting list V. 85, p. 860. {/The half-interest ln th e R Ichford, V t., elevator,
rules of th e In te r-S ta te Commerce Commission, a n d th e rem ain der, $i - which was destroyed by fire O ct. 7 1908, valued a t $52,281 In earlier years,
111,936, to •apltnl acco u n t-eq u ip m en t.
is o m itte d .— V. 89, p. 468 , 347.




W hile th e to ta l cost of tra c k m aintenance expended from earnings Is
$722 per mile, th ere was also expended In rehab ilitatio n of pro p erty $196.­
324 from receiver’s certificates, which would ordinarily be chargeable to
this acco u n t, m aking the to ta l cost for m aintenance of all tracks $1,018
p er m ile, w hich Is really no more th a n m ight fairly be considered norm al
P r e sid e n t L u c iu s T u t t le s a y s in b rief:
m aintenance.
i n c o m e . — Owing to tho business depression th a t prevailed th ro u g h o u t its
T r a n s p o r t a t i o n E x p e n s e s . — The results for 1908 a nd 1909 are adversely
te rrito ry d u rin g th e first half of tho fiscal y e ar, the o p e ra tin g revenue has
fallen olf <13 com pared w ith th e previous y e ar 5176, S3 2— $95,928 of this w asln affected by the following item s: (1) D epreciation charges to eq u ip m en t, as
tiie freig h t d e p a rtm e n t, $72,901 in the passenger d e p a rtm e n t a n d $7,643 In reoulred by the In te r-S ta te Commerce Commission in 1908 and 1909, were
incom e from o th e r sources. N o tw ith stan d in g th e lessened o p eratin g in­ not carried In operating expenses in 1907. (2) P e r diem rentals from foreign
come, $1,231,551 lias been expended upon m ain ten an ce of w ay a nd stru c ­ roads were credited to operating expenses In 1007, b u t u n d e r the new clas­
tu re s, as com pared w ith $1,199,262 in th e previous y ear; and in m aintenance sification were credited to Income In 1908 a nd 1900, th e credit to operating
of e q u ip m e n t, $1,180,584, as com pared w ith $1,247,708 in the previous expenses from this source In 1007 am o u n tin g to $264,000. (3) Increases
in wages in all classes of service In the early m onths of th e fiscal y ear 1908.
N^ D uring th e y e ar 5,324 to n s (37.5 mites) of new steel rails have been laid w hich obtained throughout 1909. (4) Increasing age of equipm ent, p a r­
in m ain track s a n d 2,737 to n s (23.8 miles) of relay rails in branches; 411,7.>3 ticularly th e heavy consolidation locom otives.
ties have been laid, 51 m iles of tra c k have b een raised a n d thoroughly re ­
F r e i g h t T r a f f i c . — Earnings from freight traffic Increased 7.83 % over
b a lla ste d , an d 34.4 miles of fence have b e en b u ilt. T he cost of these im ­ 1908 an d decreased 11.70% from 1907. Coal tra fllc co n trib u te d nearly
p o rta n t Item s was included In o p eratin g expenses.
47% of th e freight earnings in 1909, 45% in 1908 a n d 47 % in 1907. Aver
B e t t e r m e n t s a n d A d d i t i o n s . — T h e am o u n t ex p en d ed lo r b e tte rm e n ts and
freight receipts per ton mile were 5.40 mills In 1909, 4
mllls ^
charged to Income d u rin g th e y e a r has been $113,733. I here has been age
nd 4.81 mills In 1907. R evenue to n miles decreased 4.62% a n d freight
expended th e fu rth e r sum of $240,095, w hich, less $14,389 derived from atra
in miles decreased 6 .9 8 % . Increase in the average revenue per to n mill
-ude of real e sta te , has been charged to th e cap ital acco u n t, viz.: A dditional Is largely
to th e re a d ju stm e n t of certain traffic c o n tia cts, w hich dl<
side tra c k s, $44,860: a u to m a tic block signals, $133,500; buildings a nd fix- not Involvedue
a n y Increase in th ro u g h ra te s. Io n s of frelRht i(Including com
litres $6,259; dock a n d w harf p ro p e rty , $61,471.
pany)
per
tra
in
mile w ere 620 in 1909, 602 in 1008 an d 633 in 1907.
F u n d e d D e b t . — T he funded d e b t has b een Increased b y $2,000,000 5-year
i m p r o v e m e n t s a n d R e h a b i l i t a t i o n . — T he m ost Im p o rta n t construction
1% coupon no tes Issued A pril 1 1909, due A pril 1 1911. The proceeds were
used In p a rt for p ay in g ofi floating d e b t a n d the balance is to be used in w ork u n d e r w ay was the com pletion of th e nm ln i l n e r f th e Sugar Creek &
providing ad d itio n a l e q u ip m e n t a n d fo r o th e r p e rm a n e n t ad d itio ns to the N orthern R R work on which was resum ed in D ecem ber 1908, a n d pracxi
ralK' finished during the fiscal year. T he line has since been p u t in servic
as th e m ain line ol road* betw een O rrville a nd B olivar. C onstruction of
V l P o n t i n 'g e n t F u n d . — T h ere has b een a d d ed to th e co n tin g en t fund the y e a r’s
surplus Incom e, a m o u n tin g to $101,964, th e b alan ce of this fund on Ju n e "the te rm in a l y ard a nd locom otive d lsp atch m e n t facilities was c a n led fox
w ard a t tlfe sam e tim e , and w ork has now been begun on the new locom otive
30 1900 being $447,043.
sh^ms a t B rew ster. T he expenditures on this Im p o rtan t cut-oil line SuO P E R A T IO N S A N D F IS C A L R E S U L T S
ga?PCreek & N orthern) to O ct. 31 1908 aggregated $1 173,539; authorized
1908-09.
1907-08.
1908-09.
1907-08
exnendltures u n d e r receiver’s certificates (a d d itio n a l), $401 ,o70.
,
Miles op. June 30.
931
931 Av. rate per ton
° XOn th e Cleveland* division 21 miles of 00-lb. rail were changed anil re ­
per
mile...........
0.995cts.
1.062
cts.
O v e r n i to n s —
_ _ ___
placed w ith new 90-lb. rail; also 4 miles of 70-lb. rail changed to 90-lb. rail.
N o.tonscar'd(rev) 5.063,870 5,874,800 Tot. pass, carried. 3,878,688 3,890,364
i n t e r e s t a n d T a r e s P a i d T h r o u g h R e c e i v e r 's C e r t i f i c a t e s . — I t will be noted
do do 1 m ile.136326,254 138432,342
do 1 in. (rev.) 502950,005 479425,571
57.60
57.74 th a t th e n e t Income for 1900 Is shown to he $27,432. In this connection
R ev.tr’n-loada(tons) 268.46
252.39 Pass, per train m .
Av. per pass. m ._ 2.04 cts.
2.07 cts. reference should also he m ade to the table below, showing a u thoiizcd ex
pcndltures u n d e r receiver’s c ertificates.” w hich sta te s the am o u n t pal 1 on
account of Interest a n d taxes th ro u g h the Issuance of receiver s certificates.

M a in e C en tra l R a ilr o a d C o.

(Report for Fiscal Year ending Jane

30 1 9 0 9 .)

E A R N IN G S , E X P E N S E S , E TC

1908-09.
$
Passengers______ 2,833,457
f r e i g h t ________ 6 ,038,798
Mall, express, &C_ 465,469
h’a r n t n g t f r o m —

1908-09.

1907-08.

S

S

2,911,634 Opr. income------- 2,207,518
30,692
5,134.895 Kents received.-.
31,227
407,727 Income from Inv’ts

S

Gross corp. Inc. 2,269,437 2,270,974
T o ta l................. 8,337,721 8,514,256
D e d u c t—
O pcr. e x p en se s—
637,960
617,900
Malnt. of way, &c. 1.231,551 1.199,262 Interest on d e b t..
27,146
37,135
Malnt. of equip__ 1,180.584 1.247.708 Miscellaneous Int.
896.780
Traffic expeases..
90,690
09,894 Kents ................... 000,619
398,152
398,144
Transp’t'n exp__ 3,005,267 3,139,397 Dividends (8 % )..
1 ieneral expenses.
271,180
255,105 Additions, &e.(sce
rem arks)_____
113,733
191,078
76,423
109,070
5,779,278 5,911.366 Hire of equipment
T o ta l............
13,440
13,440
2,558,440 2.602,890 Sinking fund........
.sur.20,068 def. 13,072
2,167,473
2,260.008
Total
10,360
101,964
2.584,514 2,589,818 Surplus
Total net rev
370,067
370,990
T axes accrued___
2,207.518

2.213.751

GENERAL BALANCE
A s s e ts —

1009.
S

1908.

$

Construction and
equipment.........17,412,143 17.180,437
Stocks and bonds. 1,412,948 1,422,949
Cash ___________ 1,401,636 1,666,515
602,363
Notes receivable..
'1,919
Materials and sup­
plies _________
982,001 1,242,659
Agents and con­
167,561
172,592
ductors_______
96,920
180,250
Traffic balances..
<’ompantes and In­
269.521
dividuals _____
282,873
447,877
Sinking funds----477,394
75.058
Other item s-------83,692

T o t a l ................ 22,407.507 23,171.860
V 88, p. 680.

SH EET J U N E

30.

190S.
1909.
S
S
Stock (lly. & Ind.
section)............. 4 ,995,700 4,995.700
bonds (Ity. & Ind.
sectio n )............. 13 892,102 11,892,192
476,105
455,245
Current liabilities
050,000
Notes payable----Temporary ccrtfs.for
2,119,000
I>. & O. bonds _
555,695
449,570
Aud. vouch., &c..
Int., rents, taxes,
257,588
257,982
&c., not due__
104,93 I
104,934
Sundry lease acct.
105,131
105,131
Injury fund...........
447,878
477,394
Sinking funds----36,471
71,434
Improvement acc.’t
345,084
Contingent fund. . 447,048
35,952
151,786
Other accounts . .
Profit and lo s s ... 1,059,091 1,150,130
L i a b il it i e s —

Total

.22,407,507 23,171,860

W h e e lin g & L a k e E rie R a ilr o a d .
30 1 9 0 9 .)
R e c e iv e r B . A . W o r th in g to n , C le v e la n d , S e p t . 1 1 9 0 9 ,
s a y s in s u b s ta n c e :

{Report for Fiscal Year ending June

G e n e r a l R e s u l t s . — Gross earnings increased 4 .3 8 % .
T he depression in
business c o n tin u ed th ro u g h o u t th o g re a te r p a rt of th e y e ar, so th a t our
earnings by m on th s did no t begin to show Increases over 1908 u n til Decem­
ber. Since th e n th ere has been a g rad u al re tu rn to norm al conditions.
C om pared w ith tho m ore prosperous y e ar of 1907, gross earnings show a
decrease of 8 .0 1 % . O perating expenses show a decrease com pared w ith
1908 of 2 .2 7 % , th e o p e ra tin g ra tio decreasing from 79.64% to 74.58% .
M a i n t e n a n c e o f E q u i p m e n t . — E xpenditures for th is purpose show an
increase from $1,148,755 In 1908 to $1,380,978 In 1909, or 20.21 % , ex clu d ­
ing repairs to e q u ip m en t m ade u nder receiv er’s certificates, a m o u n tin g to
$250 1)00 for freight tra in car repairs a n d $198,780 for locom otive repairs,
w hich, a d d ed to th e e x p en d itu res from earnings as ab o v e, m akes a to ta l
charge to m ain ten an ce of eq u ip m en t of $1,829.7:>8, an Increase ovei 1908
of 59 % . These liberal e x p en d itu res were ab so lu tely necessary on account

m otives uemg in uau o iu e u , imu
.... ----- ... - - - - - - - - - - - ­
m otives a n d 2,000 w ooden gondola cars u n d er lease from th e W abash R R .
to th e owners on J a n . 1 1909, ma t ng It essential th a t th e rem aining cars
and locom otives should be p u t In a “ o m a l condition ol rep air.
As the resu lt of these ex p en d itu res, 70% of the locom otives w cie In seivlceablc condition a t th e end of tho fiscal y ear, a n d b a d o rd er car equipm ent
was reduced to a b o u t 8% of th e to ta l
1907.
$1,941
$2,292
$1,701
Cost of rep airs p e r loco m o tiv e----- ..
244
225
243
N um ber of locom otives on h a n d .. -.
$354
$835
$134
Cost of repairs p er passenger c a r . .
76
76
77
N um ber of passenger cars on h a n d -.
$32
$42
$35
Cost of repairs per freight c a r-------14,218
13,039
13,890
N um ber of freight cars on h a n d _____
__ . . _, _
Including e x p en d itu res u n d e r receiver’s certificates, the cost of repairs
per locom otive was $3,176 a n d p er freight car was $61.
_
I t will be noted th a t, n o tw ith stan d in g the u n u su ally large proportion of
heav y repairs d u rin g th e y ear, th e cost of repairs p er car anil p er locom otive,
even Including e x p en d itu res u n d e r receiver’s certificates, is n o t excessive,
when com pared w ith th e average u n it cost on o th e r roads w here the equip­
m ent is p ro p erly m a in ta in e d . Tho am o u n ts exp en d ed for m aintenance of
nassenger ears in 1907 an d 1908 were n o t more th a n one-lialf enough to p ro p ­
erly m a in ta in th e eq u ip m e n t, necessitating th e higher ex p en ditures per
nasseneer car In 1009. T he locom otive re p a ir shops a t N orw alk were de­
stroyed b y lire on Aug. 19 1908. Tho temporary- shops th e re , In connection
w ith our C anton shop, give us a b o u t 60% of th e re p a ir facilities needed tor
ou r p resen t locom otives. D uring th e p a st y ear we w ould have saved a p ­
proxim ately $66,000 if wo could have repaired all our locom otives a t our
own shops, Instead of p a rtly a t outside shops.




A u th o r is e d

1907-08.

2,213,751
31,283
31,940

E x p e n d itu r e s

u n d e r R e c e i v e r 's

C e r tific a te s .

A dditions a nd b e tte rm e n ts, notab ly buildings and m achinery
a t Ironvllle, $171,697; equipping freight ears w ith a ir brakes,
$59,980; relaying rail, $31,234 ------- - - - ------- r - - 7K0:
R eh abilitation of pro p erty , notab ly repairs to engines, $198,780,
renalrs to freight cars, $250,000; relaying rail, $115,144, tic
renew als, $30,000; bridges a nd trestles, $45,052; shops and
m achinery, $ 8 2 ,3 0 0 --------- ------• - --.—
VnVaV i l a VnV.
In te re s t— Llsm an equipm ent bonds (due Ju ly l 4»0R), S^l
.
W heeling division bonds (due Ju ly 1908 ), $22,3aO, con
solldated m ortgage bonds (due S ep t. 1908 a nd M arch 1909),

5,101
’
761,562

540 ,055
216 600
T axes—-D ueTurie 1908 an d D ecember 1008---------- -------------------460
B ankers' com m ission—2% on $373,000 ------- -------------------------- ----- 7
„
, . , ,
_____ $1,841,070
T i r o - Y e a r 6% R e c e i v e r ’s C e r t i f i c a t e s I s s u e d .
(D ated Ju ly 1 1908, $107,350; S ep t. 1 10 0 8 , $234 0 ° 0 : N ov. 1 1908,
$1,859,000: M arch 1 1909, $373,000; May 1 1909, $1,429,000.)
C ertificates Issued______________________ ________ . • - . • ■ ■ - r v - * * *
Expended on W . & L. K. R R .. $1,841,079; expended on S. C.
N o. R R ., $401,570; to ta l----- ------------ ----------------- -------- --------

B alance unex p en d ed ---------- , - ------- ' 1* ! 000° and
A’ofc.— Of this am o u n t, $715,000 w as received as of July 1 1 9 0 9 am
$71 1,000 is yet to be received, not being payable u n til Aug. 1 louu.
,V1

Vi

Z O P E R A T IO N S A N D F IS C A L R E S U L T S .

...

1905-06.
1908-00.
1907-08.
1906-07.
442
442
442
442
A verage rev. m ileage.
O p e r a tio n s —
„„„
8,571,242
7,818,298
0,008,590
T o tal tonnage (revenue) 8,331,704
969,103,622
T o t. tonnage l m .(rev.) .889,916,252 033,018,545 1130,880,732
1,802,405
1,624,201
'1,869,400
“ ““
1,510,844
F reig h t tra in m iles------037.05
604.94
574
.43
Av. rev. tr.-lo ad (to n s).
589.02
0.479
cts.
0.481 cts.
0.478 cts.
R ev. per ton per tulle. . 0.540 cts.
$2 57
$2
91
$2
74
Rev-, per tra in m ile ...
53 1"
898,954
1,004,986
1
,090,804
Passengers (N o .) .. —
1,101,790
Passengers 1 mile (N o .). 30,442,152 30,643,740 27,950,502 20,206.472
1.81 cts.
l .66 Cts.
1.60 cts.
R ev. per pass, per m ile .
1.63 cts.
$12,029
$13,850
$12,205
Gross earns, per m ile—
$12,741
$3,520
$4,520
$2,485
$3,241
N et earns, per m ile------IN C O M E

ACCOU NT

1008-09.
O p e r a tin g re v e n u e —
Coal fre ig h t......... - ........... $2,338,053
O ther freig h t---------------- 2,406,369
407,714
P a sse n g e rs........................
86,154
Mall a nd e x p re ss ---------189,110
M iscellaneous-----------56,24 5
O ther th a n tra n s p o rt’l l . ___________

1907-08.
$2,442,351
2,013,088
490,688
94,807
188,466
167,600

1005-06.
1900-07.
$2,558,909 $1,915,983
2,723,869
2,881,759
466,748
404,730
99,040
98,947
44,3171
113,155
75.479/

T o tal opcr. re v e n u e .. $5,633,045
O p e r a tin g e x p e n s e s —
M alnt. of w ay , &c--------M alnt. of e q u ip m e n t—
T raffic expenses_______
T ran sp o rtatio n expenses
G eneral expenses---------

$5,307,001

$6,124,207

T o tal oper. e xpenses. $4,200,718
N et oper. re v e n u e -------- $1,432,927
T axes . .......
260,336

$728,409
1,041,572

$5,318,801
$792,543
871,930

2,107,809
157,520

1,951,802
145,880

$4 298,244
$1 098 757
252,043

$4,125,370
$1,008,837
220.917

$3,762,155
$1,556,646
187,509

O perating income
. $1,172,591 '
O utside o p e ra tio n s .. .
902

$846,714

$1,771,020

$1,369,047

T o tal
-.
-173,493
H ire of equipm ent— b a l. /Jr.S-’O
M iscellaneous ............. _
32,080

$848,374
$113,394
45,132

$1,771,920

$1,369,047

$667,470
1,148,755
79,758)
2,240,368/
152,884

~ 120,431

T o tal Incom e___ — $1,146,906 $1,000,000 $1,892,351 $1,369,047
D e d u c tio n s —
$004,948
In te re st on m tge. bo n d s. £$321,110 $1,033,030 $1,033,030
132,653
155,571)
143,317
In t. on e q u ip , obllga’n s .
*255,891
51,449/
50,577
41,351
In te re st a nd discount —
96,123
In t. on receiver’s c ertfs.
61,670
D iscount on rcc’rs certfs.
115,913
125,369
37,305
30,787
R ents p a id ------------------R en tal of eq u ipm ent from
194,703
182,160
362,340
W abash R R -----------237,877 ___________ ______
E quip, oblig’s p ’d by reo r
_______
T o tal deductions
- $1,110,474 $1,610,827 $1,560,122 $1,270,752
B a l” surp. o r deficit I . - .s u r . $27,432 dcf.$603,927 sur.$332,229 sur.$92,294
x D eductions from Income In 1909 on account of m ortgage bond Interest
a re as follows: I.ake E rie D iv . 5s $2,000,000 <1 year) $100,000: W heeling
D iv 5s $804,000 (1 y e ar), $44,700; extension a nd Im pt. 5 s, $ 400 ,uun
(l year)’. $20,450; consolidated 4s, $11,607,000 (4 m os.),
$321,110. In te re s t on the consolidated 4s for the first eight m onths of
the fiscal y e ar, l c ., to M arch 1 1909, was paid o u t of receipts derived
from the sale of receiver’s certificates, as shown In a J L ^ c - ^ u f i r a t e s '
T he o th e r p aym ents of In terest o u t of proceeds o f.re ce iv e r s certificates,
It will be noted, were to cover Interest a c c r u e d prior to .inly l i v y o . * Includes $60,103 correction account of in te re st on e q uipm ent obltgnons charged to cost of pro p erty In previous years. ------.

F I N A N C I A L E X H I B I T J U N E 30, C O N D E N S E D F R O M G E N E R A L
BALANCE SHEET.

1900.
As se ts —
$
Cost of ro ad an d eq u ip m e n t_________ 58,343,440
A dditions to p ro p e rty ______________
Cost of P Ittsb . List). & W este rn ___
Cost of L . E. Y oungstow n A S o u th ._ ................
M aterials and su p p lies_____________
2,280,624
Stocks an d bonds ow ned___________
New eq u ip m en t In suspense________ 2,579,500
1,174,550
A dvances for c o n stru ctio n__________
6,289
Cash on h a n d ______________________
Bills receivable___________________
Due from a g en ts__________________
D ue from U . S. P . O. D e p a rtm e n t..
683,145
Due from railroads and Individuals.
Due from Pacific E xpress Co--------M iscellan eo u s____________________
Sundry suspense a cc o u n ts_________
125,743
P rofit an d loss_____________________
369,443

1008.
$
59,432,245

T o tal a sse ts_____________________ 65,571,743

66,270,518

67,353,411

Common sto ck _____________________ 20,000,000 20,000,000
F irst preferred sto c k ________________ 4,086,000
4,986,900
Second preferred sto ck _____________ 11,993,500 11,993,500
M ortgage b o n d s_________ _____ _____ 23,000,000 23,000,000
E q uip m en t tru s t o bligations________ 2,579,500
2,810,500
Bills p ay ab le________________
- 1,155,000
Vouchers a n d p ay -ro lls..............
R ailroads and In d iv id u als___
•!■
826,986
3,422,527
Taxes accrued, n o t d u e _______
J
In te re st d u e _________________
6,090
In te re s t accrued, not d u e ------568.344J
Sund ry suspense a cco u n ts-----454,616
R eplacem ent a cc o u n t________
808
P rofit a n d loss____________
54,091

20,000,000

L ia b ilitie s —

T o tal liab ilities__________________ 65,571,743
— V. 89, p. 780, 227.

-

..........
436.803
2,290,620
2,819,500
320,749
076,540

66,276,518

1907.
$
58,124,651
1,200,060
418,719
478,821
510,331
3,065,500
1,362,212
658,829
160,769
270,549
8.380
1,077.745
5,237
11,608

4,986,900
11,993,500
23,000,000
3,065,500
1,277,575
1,419.442
312,748
107,235
84,457
367,029
739,025
67,353,411

Nevada-California-Oregon Ry.

(Report for Fiscal Year ending June

3 0 1 9 0 9 .)

T . F . D u n a w a y , R e n o , N e v ., J u ly 31 1 9 0 9 , w rites:
The physical condition of th e road h as been fully m ain tain ed . The ex­
tension from Likely to A lturas, Cal., 19.77 miles, w as com pleted and opened
for business on Dec. I 1908. I t Is u rg en tly recom m ended th a t the road be
fu rth er ex ten d ed 58 miles to Lakevlcw , Ore.
Bonds to th e a m o u n t of $7,000 were purchased b y th e trustees for ac­
count of sinking fund an d canceled.
O P E R A T IO N S . E A R N IN G S .

A c.

1008-00.
176

1007-08.
159

1906-07.
144

1905-06.
144

57,748
1,470,541
5.652
28,700
1,843,082
0.73 1
$
253,199
124,156
29,313

56,770
4,315,730
4.848
25,313
I,.’559,037
6.571
$
209,233
102,189
26,910

43,550
•1,200,291
3.821
22,927
1,327,080
6.173
$
100,735
81,923
24,048

42,727
3,140,503
4.005
15,441
967,901
0.347
$
144,635
01,436
23,057

T otal e arn in g s________
E xpenses—
M aintenance of w ay, &c.
Malnt. of eq u ip m en t___
Traffic expenses________
T ran sp o rtatio n expcnscs.
Gencral expenses_______

400,068

338,068

267,306

229,128

49,331
30,772
0,778
62,350
19,580

45,6701
40,401
0,885
59,363
19,240

119,108

124,767

T otal e x p e n s e s _______
N et e arn in g s.............. ........
O ther In c o m e __________

177,811
228,857
14,633

171,565
167,103
19,924

119,198
148,108
17,158

124,767
104,361
19,880

Total n e t In c o m e_____
243,490
D e d u c t—
In te re st on b onds_______
29,117
Renewal fu n d __________
D ividend on pref. s to c k .. 5% )37,500
Dlv. on com. stock (1 % ) .
14,500
R ents p a id _____________
205
Taxes _________________
12.450
Sinking f u n d ......................
7,900
5.417
In terest on lo an s_______
Perm anent Im provem ents
Im pro v em en t fu n d --------............
107,140
T o tal ________ _______
136,341
Balance, su rp lu s— ..........

187,027

165,266

124,241

BALAN C E

SH E ET

29,477
2*5
^•1
CT
O'

Average miles o p e ra te d . _
O p e r a tio n s —
Tons carrie d ___________
Tons carried 1 m ile____
Rev. p. ton p. m . (cents) _
Passengers c a r rie d ______
Passengers carried 1 m ile.
R ev. p . pass. p. m. (c ts .).
E a r n ln o s —
F r e i g h t ________ _______
P a s s e n g e r_____________
Mall, express an d m ls c ..

26,751
25,467
31 135
(4 % )30,000 (3%) 22,500

11,062
8,040
6,000
1,287
50,001

6,275
0,100
6,000

7,021
0,170
10,535
490

143,366
43,661

106,261
59,005

72,183
52,058

JU N E

30.

1908.
s
L ia b ilitie s —
A s s e ts —
S '
S
S
Property account.. .3,128.062 3,014,113 Stock, common____ 1,450,000 1,450,000
Bonds ow ned........ . 209,000 209,000 Stock, preferred___ 750,000 750.000
700 B o n d s....................... 789,000 796.000
700
Stocks owned_____
22,793 Accrued Interest___
Cashier....................... 26,468
0,310
5,733
4,330 Vouchers ............
Duo from agents___. 13,284
10,870
11,638
0,818 Pay-rolls...................
Individuals and cos.. 13,529
11,204
10,123
Hospital fund...........
U. S. Government—
5,560
4,800
P. O. Dept., A c ..•
4,301 Renewal fund...........
11,722
11,757
i. I
Sierra Valley lty. Co . 112,2.
160,000 Improvement fu n d .. 50,000
50,000
Material accounts__ . 26,067
41,496 Dividends accrued..
52,000
37,500
Miscellaneous .......... .
3,847
1,493 Traffic balances___
7,001
*6,920
Surplus account___ . 125,970
80.000 Replacement equlp't 21,194
10,392
Notes payable...........
60,000 100.000
Profit and loss........... 436,836 299.290
T o ta l..................... 3,660,807 3.545,044 | T o ta l.....................3,060,807
* The Item s of traffic balances Is sta te d n et In 1908.— V. 88, p. 452.

Central Railroad Company of New Jersey.

(Report for Fiscal Year ending June

3 0 1 9 0 9 .)

P r e s id e n t G eo rg e F . B a e r s a y s in su b s ta n c e :
w er ■ m ade an d charged
again st "a d d itio n s and b e tte rm e n ts fu n d " provided o u t of th e surplus of the
previous y ear to a to tal of $338,215, chiefly for sidings an d o th e r y ard
Im provem ents ($127,425) an d renew als an d Im provem ents to docks and
w harves ($134,245).
O u t of th e surplus for th e cu rren t year, th e sum of $2,000,000 has been
set aside as a fund for ad d itio n s a n d b e tte rm e n ts, an d to cover In new e quip­
m ent th e cost of 1,000 new steel coal cars (100,000 lbs. c ap a c ity ), 500 new
low-side gondola cars ( 100,000 lbs. capacity) a n d 2 new steel-car floats
(all of w hich, to g eth er w ith 15 open platform coaches, arc to be delivered
d u rin g th e com ing sum m er), as well as new car shops a t E llzab etliport, to
replace those burned In 1898, since w hich tim e we have occupied tem porary
q u a rte rs, w hich arc now In such condition as to req u ire th is action.
Eleven cars were com pleted d u rin g th e y ear an d live arc u n d e r con­
s tru c tio n a t co m pany’s shops.
F u n d e d D eb t. — Equipment bonds of Series A to F to a total of $1,380,000
A d d itio n s ,

B e tte r m e n ts ,

A c . —-E xpenditures

matured and were retired during the year.




Of th e $50,000,000 general m ortgage 5% bonds, th ere Is a balance u n '
Issued of $4,909,000.
G e n e r a l R e s u l t s . —T he gross revenue decreased $1,107,471, or a b o u t

D uring th e y e a r 370,761 new ties W'ere laid; 26.79 miles of tra c k were re,o .1„ 't,CCL W^ h bl' ° icn stone; 158.63 miles of track were relaid w ith steel
rails of 90-ll>. section; 7 3 .o3 m iles of tra c k were relald w ith second-hand
ta ils, chiefly of 80 an d 85 lb . sections. , , k
__ ,
IN C O M E A C C O U N T — I N T E R -S T A T E C O M M E R C E C O M M IS S IO N
C L A S S IF IC A T IO N .
I n c r e a s e (-F) o r
O p e r a tin g R e v e n u e —
1908-09
1907-08.
D e c r e a s e (—) .

M e rc h a n d is e -------------------------------- $8 ,4 22 ,5 9 7
8,166,369
A n th ra c ite _________________
P assen g er-------------------------------------- 4,253,920
463,649
Express a n d m a ll____________ .
M iscellaneous______________ _
47,412
O th er th a n tra n sp o rta tio n revenue I
714,331

$8,368,056
0,099,015
4,282,704
437,874
41,831
054,934

+ $54,541
— 932,646
— 28,784
+25,775
+ 5,581
— 240,603

.$22,068,278 $23,184,414 — $1,11G,136
O p e r a tin g E x p e n s e s —
M aintenance of w ay a n d struc„„™ ,.. $2,156,209 $2,349,135
— $192,926
M aintenance of equipm ent .
699
. 3,676
3,676,699
— 10,854
3,687,553
T ran sp o rta tio n expenses________ . 5,947,442
— 494,534
6,441,976
G eneral a n d tra ffic __________
.
780,167
— 7,734
787,901
T o ta l____________ .
_
.$12,560,517 $13,266,566
— $706,049
N et revenue, rail lines___
9 ’507’76i $9,917,848
— $410,087
. '$$9,507,761
O utside operations— n e t
.
.
M ef.241 *def.46,830
+ 46,589
N . Y . & Long B ranch R R .—n e t .
*274,938
+ 25,418
*249,520
. 1,152,756
— 279,783
1,432,539
.$10,935,214 $11,553,077
D e d u c tio n s —
T a x e s ------- -----------------------------------. $1,067,772 $1,065,726
In te re st on bonds a n d g u a ra n tie s . 2,800,367
------2,934,576
In te re s t— m isc e lla n e o u s.....................
.....
34,067
86,605
R en tals of leased lines__________ . 2,495,020
2,342,696
A dditions a n d b e tte rm e n ts________. 2,000,000
2,000,000
Taxes a n tic ip a te d ___ __ _
300,000
D ividends (8 % )____________
. 2,194,944
2,194,944
T o tal dedu ctio n s__________
$10,592,170 $10,924,547
B alance, su rp lu s____________
.
$343,044
$628,529

— $617,863
+ $2,046
— 134,209
— 52,538
+ 152,324
— 300,000
— $332,377
— $285,485

* T he gross earnings from outside operations were In 1908-09 $1,534,068;
In 1907-08, $1,525,404; and of th e N . Y . & Long B ranch R R . In 1908-09.
$918,305, and In 1907-08, $877,359. T o tal gross earnings. Including o u t­
side operations and N . Y . & Long B ranch R R . w ere In 1908-09. $24,520,651:
against $25,587,177 in 1907-08.
R E S U L T S F O R P R E V IO U S Y E A R S — O LD B A S IS .
*■'<**■
1007-08.
1006-07.
1005-06.
T o tal gross earnings ra il lines _____ $22,614,936 $22,772,568 $20,523,031
N et e arn in g s------------------$9,453,257 $10,913,626 $9,865,865
O ther Incom e----------------------------------- 2,099,820
1,785,312
1,606,555

T o tal n e t Incom e_________
In te re st on d e b t___________
R entals p a id ______________
T a x e s _____________________
R enew al funds, Ac_________
D ividends (8 % )___________

.$11,553,077 $12,698,938 $11,472,420
$3,021,183 $3,038,289 $2,869,626
2,342,696
2,765,213
2,386,380
1,065,726
1,112,558
556,710
2,300,000
3,512,061
3,373,799
2,194,944
2,194,844
2,194,424

.
.

B alance, s u rp lu s ...

$628,529
BALA N C E SH E E T JU N E

~
A* 58(43i .
1909.
A s s e t s — "............
$
R ailroad a nd equipm ent 69,650,058
Securities ow ned_______ 20,558,195
Advances for c onstruc’n 1,408,784
In surance fu n d _______
218,682
Supplies an d m a te ria ls .. 1,270,410
Cash _________________. 1,069,078
R eserve for new e q ulp’t.
s
4,000,000
Due from a g e n ts_______. 1,135,736
Due from railroads, Ac.. 1,452,086
O ther co’s & Individuals5 1,963,957
Bills receivable________
D eferred, A c., a c c o u n ts .' 1,239,752

$75,973

1908.

1907.

1906.

69,209.835
24.948,842
2,071,440

68,327,481
25,533,307
1,712,311

65,814,539
23,347,382
573,379

1,600,426
1,833,119

1,588,412
1,663,558

1,747,993
1,138,644

" 905",601
1,940,503
1,837,727

1.414,537
2,076,425
2,401,461

" 428,689

303,099

1,186,633
1,992,957
1,699,930
3,500
309,593

5

100,000

$

100,000

T o tal a sse ts_________ 103,966,738 104,876,182 105,120,591

L ia b ilitie s —

C apital sto c k __________
Bonds (see “ R y . & In d .
Section” ) ___________
In te re s t on b o n d s______
R e n t a ls ______________
V ouchers, pay-rolls, Ac.
Due railroads a nd co’s._
O ther co’s & Individualsi
D ividend d u e ____ . .
Taxes ________________
Taxes a n tic ip a te d ______
E quip, dcprec’n fu n d __
In surance reserve fu n d .
A dd’ns A b e tte n n ’ts fd .
R enew al A Im p’t f u n d ..
M iscellaneous_________
Profit an d l o s s . .. . . .
T o tal ................
— V. 89, p . 110.

$91,481

30.

$

100,000

97,914,550

27,436,800

27,436,800

27,436,800

27,431,800

51,471,000
977,438
225,700
1,570,935
423,087
1,681,879
548,736
1,779,771
300,000
2,148,716

54,260,000
988,225
1,825
4,347,631
651,605
2,118,223
548,730
2,227,525

50,935,000
995,813
965
2,482,965
1,206,337
1,243,750
548,636
1,278,321

4.053,661

52,851,000
985,463
945
3,921,697
423,649
1,480,108
548,736
2,400,633
300,000
1,025,018
225.763
2,391,876

1,150,000
182,773

1,217", 568
148,989

" 409,528
10,939,487

300,288
10,583,306

1,415,568
211,805
9.579,874

700,000
2 08,774
9,515,631

.103,966,738 104,876,182 105,120,591

97,914,550

R e a d in g

Company.

(Balance Sheets of June

30 1 9 0 9 .)

T h e t e x t o f th e a n n u a l r e p o r t a n d c o m p a r a tiv e s t a t e m e n t
o f e a r n in g s w ere g iv e n in th e “ C h ro n icle” la s t w e e k , p a g e s
7 7 4 , 7 8 2 . T h e b a la n c e s h e e t s o f J u n e 30 fo llo w :
R E A D IN G
A s s e ts —

C O M P A N Y

B A LA N C E

R ailroad equipm ent . . . .
...
F loating e q u ip m e n t------...
E quipm ent a c c o u n ts -------- .
R eal e s t a t e . . .......- -------------------------Phlla. A R eading R y. bonds o w n e d ..
Bonds of sundry com panies-------------Pliila. A R eading R y. stock o w n e d ..
P. A R . Coal A Iron stock owned
Stocks of sun d ry com panies. ..............
Phlla. A R eading Coal A Iron Co _ _
S undry railroads, A c ....................
C a s h ------------------------ - - - .........
Accrued Income
.
.
.
Philadelphia A R eading R y .......... .
M iscellaneous.
.
T o t a l..

SH E E T

JU N E

1909.
1908.
$
$
:i2,910,348 32,940,289
3,455,312
3,026,852
9,059,028 10,956,623
17,092,575 17,084,705
20,000,000 20,000,000
24,296,973 23,066,116
20,000,000 20,000,000
8,000,000
8,000,000
52,757,677 52,695,111
74,800,255 75,241,270
2,210,955 2,193,738
5,306,112
2,724,865
432,026
389,893
230,441
. ...
396,822
531,209

30.
1907.
IS
30,560,401
2,990,647
7,603,918
17,105,445
20,000,000
19,470,301
20,000,000
8,000,000
51,582,218
79,195,708
2,110,318
3,007,731
763,963
.
933,953

----- 270,057,523 268,850,701 263.330,593

1909.
L i a b i l i t i e s —■

$

1908,

O P E R A T IO N S . E A R N IN G S A N D E X P E N S E S .

1907.

3

$

Stock (see " R y . A In d u s .” section) - .140,000,000 140,000,000 140,000,000
Bonds (see " R y . & In d u s.” section) .109,032,539 106,654,538 104,828,205
1,537,090
1,437,071
C ontingent a c c o u n t------------------------1,538,595
2,647,145
2,022,817
Accrued In terest an d ta x e s __ „ -------- 2,743,177
______
34,232
P h ilad elp h ia A R eading R y .................
(*)
3,411,000
G eneral m ortgage bonds canceled___
(*)
IS. T . S to tesb u ry (u nadjusted balance
3,346,527
______
for new e q u ip m en t p u rch ased )___
361,190
112,317
C u rren t b usiness___________________
30,681
593
631
M iscellaneous
360
P rofit an d loss, su rp lu s____________ 17,612,172 14,269,446 11,518,551
T o tal lia b iliti e s .......................
270,957,523 268,850,761 263,330,593
FT' * The general m ortgage bonds canceled ($4,454,000 Ju n e 30 1909 a nd
$3,983,000 Ju n e 30 1908) were d ed u cted before show ing th e am o u n t of
bonds o u tsta n d in g as above In th e balance sheets of th e la st tw o years.
P H IL A D E L P H IA
A R E A D I N G I t Y . B A L A N C E S H E E T J U N E 30.
1908.
1909.
1907.
A vpf. S ' ■
5
$
$
81,290,579 81,250,027 81,000,555
R ailro a d ........................
8,500,000
8,500,000
P h ilad elp h ia T e rm in al________
8,500,000
2,525,500
2,603,500
P h ilad elp h ia S u b w ay ------- --------------- 2,675,500
311,009
309,959
3 11,009
R eal e sta te
1,881,716
1,871,776
New shops, R ead in g ----------------- :-----1,881,716
2,321,853
Stocks ow ned______________________ *1,246,853 *1,246,853
815,500
588,500
453,000
B onds su n d ry com panies
2,652,206
1,798,582
C a s h ______________________________
3,652,891
2,003,989
1,635,000
2,480,958
F reig h t a n d toll b ills ______________
34,232
41,939
R eading C om pany
2,891,740
2,949,998
M aterials on h a n d _______
2,331,178
2,734,664
2,993,709
2,913,415
R ailroad com panies____________
673,008
093,276
941,791
In d iv id u als a n d firm s...-------------910,166
1,422,420
1,532,701
P h lla. & R eading Coal & Iro n Co­
1,051,195
1,040,844
in su ra n ce a cc o u n ts— --------1,048,842
138,305
344,940
138,305
Bills receiv ab le------------------308,310
307,644
307,044
S ubw ay loan securities, A c . .
29,960
14,069
A ccrued Income on securities
487,489
E lev atio n of tra c k s, Ac_____
T o tal a sse ts.........................................1 1 0 ,7 9 3 ,8 8 2 110,609,827 111,373,262
L ia b ilitie s —

S tock ......................
20,000,000
Bonds (see " R y . & In d u s.” sec tio n ). 70,359,452
M ortgages a n d ground re n ts -----------243,106
U npaid vouchers anil pay-rolls--------- 2,831,512
In te re s t a n d ren ts m a tu re d _________
383,290
R ailroad cos., Individuals a n d firm s. 2,404,264
In te re st, taxes a n d ren ts a ccru ed ----1,700,712
W ilm ington & N orthern e q u ip m e n t.
320,041
R eading C o m p a n y ----------230,441
In su ra n c e fu n d , equipm ent fu n d , su b ­
,539,453
w ay sinking fu n d , im provts. & mtsc
S u r p l u s ............ ................................. - - - 9,721,012

20,000,000
70,287,452
246,677
2,566,329
388,603
2,372,516
1,724,330
320,011

20,000,000

70,209,452
200,703
3,603,713
373,385
2,554,780
1,166,325
320,011
----------

2,541,800
10,162,007

3,122,436
9,816,427

T o tal liab ilities__________________ 110,793,882 110,609,827 111,373,202
* Stocks ownod include in 1909 a n d 1908 $1,246,853 N orth Pennsylvania
R R . Co. stock; In earlier y e ar stocks of su n d ry com panies.
P H I L A . A R E A D . C O A L A - I R O N C O . B A L A N C E S H E E T J U N E 30.
1909.
1908.
1907.
A s s e t s —•
$
$
• $
Coal lan d s .......................................- ...........51,410,789 52,333,242 56,800,810
T im ber la n d s_______________________
838,828
836,532
833,717
New Y ork a n d E astern d e p o ts---------724,507
724,508
731,540
W estern y ard s a n d d e p o ts ..............
1,046,440
954,660
812,660
M iners’ an d o th er houses____________
553,138
553,138
553,138
P ottsv llle shops, real estate, &c______
376,169
374,792
374,791
851,892
851,892
851,892
S torag e y ard s an d w asherles_________
O th er real e s ta te ______________
364,339
361,814
355,898
Im p ro v em en ts a n d equip, a t collieries. 12,959,224
13,092,635 13,092,635
Stocks a n d bonds of cos. co n tro lled__ 9,554,915
9,554,915
9,596,359
Cash on h a n d _______________________ -358,769
451,362
409,001
Coal a cc o u n ts_______________________ 3,283,603
3,009,663
3,845,347
23,934
27,172
35,029
R en t a c c o u n ts ______________________
C om panies a n d Individuals__________
481,365
465,482.
454,410
Coal on h a n d ______
3,525,700
3,000,354
l,8 7 0 ,t7 0
1,117,243
1,202,167
Supplies a n d m aterials on h a n d ------- - 1,324,011
R epletion of coal lands fu n d -----------401,302
1,502,933
1,437,520
Stocks, bonds & m tges. ow ned, A c—
74,251
79,574
73,608
T o tal a s s e t s . . ........................
.88,153,243
L i a b i l i t i e s —•
C apital s to c k _______________________ 8,000,000
Bonds (see “ R y. & In d u s .” s e c tio n ).. 1,200,000
R eading C o m p a n y ----------------------------74,800,255
R ead in g Co., acco u n t of In te re st--------------Pay-rolls an d vo u ch ers--------------------935,771
P h lla. A R ead in g R y. c u rre n t acco u n t
901,591
In te re s t, taxes a n d m iscellaneous----802,690
Profit a n d loss---------------------------------- 1,462,936

89,291,010

1,168,900
1,525,103
730,622
1,395,962

1,260,000
79,195,703
400,000
1,143,609
1,415,105
838,503
1,188,439

T o tal liab ilities___________________ 88,153,243
-V . 89, p. 42.

89,291,919

93,441,350

8,000,000

1,230,000
75,241,270

03,441,359

8,000,000

Chicago Indianapolis & Louisville Railway.

(Report for Fiscal Year ending June

30 1 9 0 9 .)
P r e s id e n t W . II . M cD o el s a y s in su b s ta n c e :
resu lts for th e y ear show an Increase In operating
revenue of $152,226; a decrease in o p eratin g expenses of $91,283; an in­
crease in tax es of $2,419; an Increase in n e t o p eratin g revenue of $241,089;
a decrease In o th er income of $20,122; a n Increase In deductions from In­
come of $80,444: a n d a n increase in net co rp o rate Income of $140,524.
The ra te per ton per mile was .825c., ag ain st ,822c. last y ear and .810c.
In 1907. T he tonnage p er tra in w as 300.46, ag ain st 275.69 in the previous
year. Tons of freig h t carried one mile was 422,369,861, ag ain st 411,381,977
In th e previous y ear. The ra te p e r passenger per mile was 1.798c., against
1.850c. In 1908.
.
P h y s i c a l C o n d i t i o n .— There w as p u rchased d u rin g the y e ar 1,045 tons of
75-lb. p e r y ard steel rail a t a cost of $29,196; 190 to n s w ere placed In m ain
tra c k , replacing old rail; 907 tons of 75-lb. relay rail have been placed in
tra c k betw een Monon an d M ichigan C ity, replacing lig h ter ra il. Cross-ties
to th e n u m b er of 250,839 w ere used in renew als on m ain line a n d branches.
T here was expended for gravel, cinder a n d sto n e b allast $52,245, a nd for
a new 200-ton tu rn ta b le a t La F a y e tte shops $5,174, all charged to op­
e ra tin g expenses. The new bascule bridge over C alum et R iver a t H am ­
m ond w as p ractically com pleted on Ju n e 30 1909, of $55,575 expended
thereo n d u rin g th e year, $24,214 w as charged to o p eratin g expenses a nd
$31,361 to construction a n d im p ro v em en t.
T here was expended for new an d Im proved m ach in ery for La F a y e tte
shops $18,465; th is was charged to c o n stru ctio n a n d Im provem ent. Six
steel g ird er bridges were erected on th e In d ia n a Stone R R . for $42,748, of
w hich $38,847 was charged to “ co n stru ctio n an d Im provem ent, In d ia n a
Stone R R .”
„„
S t e e l R a i l i n M a i n L i n e a n d B r a n c h e s o n J u n e 30.
Y ear—
56- l b .
5 0 - lb .
67 - l b .
7 5 - lb .
T o ta l
1909 . .
. .81
20.44
107.69
448.77
577.71
1908__________________ .81
27.64
108.05
441.21
577.71
E q u i p m e n t .— Tw o new lirst-class passenger coaches were purchased
d u rin g th e y ear a t a cost of $22,722, w hich was charged to o perating ex­
penses th ro u g h th e replacem ent account; 182 50-ton d ro p -b o tto m gondola
cars. 230 40-ton box cars, 10 40-ton au to m o b ile box cars a n d 25 30-ton
stock cars w ere purchased a t a cost of $402,496, of w hich $239,075 w as
charged to new eq u ip m en t an d $163,420 to o p eratin g expenses through the
rep lacem en t acco u n t. S ixty-eight 50-ton coal cars were purchased b y the




T o tal e arnings_______
E xpenses—
M aiut. of w ay, A c_____
M alnt. of e q u ip m e n t__
T raffic expenses----------T ran sp o rta tio n _______
General

5,319,386

5,167,100

5,988,867

5,021,001

777,957
796,980
152,177
1,761,205
165,461

827,5571
819,190
139,088
1,797,807
160,821J

3,899,505

3,717,024

T o t a l _______________
P e r cent exp. to e a rn s. .
N et earn in g s__________
Taxes

3,653,780
(68.69)
1,665,600
260,814

3,745,063
(72.48)
1,422,097
258,395

3,899,505
(65.11)
2,089,272
263,857

3,717,924
(62.79)
2,203,078
220,015

O perating revenue . .
A dd. dividends, A c----Excess re n ta ls ________ .
H ire of c q u lp t., b a la n ce .
R en tal from jo in t facll’s

1,404,792
191,743

1,163,702
204,443

1,983,063
0240,475

7,718
52,840

19,280
48,094

1.825,415
175,588\ j
57,600/

T o t a l _______________
D is b u r s e m e n ts —
In te re s t on b o n d s______
R e n t a ls ---------------

1.657,093

1,430,125

2,080,582

2,232,538

772,100
382,106

772,100
301,063

772,100
<1319,455

772,100
0262,801

T o t a l ______________
S urplus for d iv id en d s__
D ividend on pref. (4% ) .
D ividend on com . (3%) .

1,154,206
502,887
200,000
328,125

1,073,763
362,362
200,000
315,000

1,091,555
995,026
200,000
315,000

1,034,901
1,197,637
200,000
315,000

27,978

(a)

a P rior to 1906-07 the difference betw een re n ta ls paid a n d ren tals received
Is show n under disbursem ents as n e t re n ta ls; th e 1906-07 figures having
been changed to conform to the new m e th o d .
C O N D E N S E D B A L A N C E S H E E T J U N E 30.
1909.
1908.
1909.
1908.
L i a b il it i e s —
5
S
A s s e ts —
$
S
10,500,000
Road and equlp’t.29,429,716 29,429,716 Stock, common_10,500,009
Stocks and bonds. 3,090,845 3,693,656 Stock, preferred.. 5,000,000 5,000,000
Bonds (see “ Ry. A
Improvein’ts since
Ind.” section).. 15,000,000 15,000,000
747,625
1905_________ 1,082,398
321,650
320,805
Coupons matured.
Material and sup­
57,500
57,500
plies . . . .........
481,504
488,890 Bond int. accrued.
165,337
138,978
203,387 Pay-roll chks. Isa’d 162,355
Cash on hand___
94,197
112,932
Coupon account..
321.650 320,805 Roads, ind. A cos.
318,222
321,78*
Accls. payable__
Agents and con­
ductors_______
205,031
226,558 Reserved for accr’d
expenses, doubt­
Roads, Individuals
269,811
ful assets, Ac__
254,735
and companies.
355,961 460,713
225,079
Replacement accta 200,801
Refunding bonds
3,060
2.993
on hand............. 1,558,000 1,558,000 Unpaid dividends.
Dividend accounts
2,993
3,060 Profit and loss___ ,032,330 5,069,399
109,000
Bills payable____

T o t a l_________36,967,076 37,132,410
— V. 89, p. 720.

T o t a l.................36,967,076 37,132,410

A m e r ic a n R a ilw a y s C o ., P h ila d e lp h ia .
J u n e 30 1 9 0 9 .)
P r e sid e n t J . J . S u lliv a n s a y s in su b s ta n c e :

(Report for Fiscal Year ending

G e n e r a l R e s u l t s . — T he to ta l n um ber of passen gers carried w as 6 7 ,5 5 6 ,9 0 1 ,
sh o w in g a decrease of 1 ,1 9 5 ,6 8 5 , or 1 .7 4 % . T he gross earnings of th e
su b sid ia r y co m p a n ies w ere $ 2 ,8 6 5 ,2 2 9 , a d ecrease of $ 6 2 ,2 0 8 , or 2 .1 2 % .
A fter p a y in g all llxed ch arges, Interest and ta x e s , th e n e t Incom e w as
$ 3 1 0 ,7 2 8 . T here w as paid in d iv id en d s to the sto ck h o ld ers of T he A m erican
R a ilw a y s Co. $ 3 0 5 ,7 0 6 , le a v in g $ 5,023 to be ad ded to surplu s a cc o u n t,
m a k in g a cred it to th a t fund on .Tunc 30 1909 of $ 5 0 4 ,7 0 3 .
D urin g th e first liv e m o n th s of th e llscal y ear, o w in g to th e general
d ep ression In trad e, th e gross receip ts fell off $ 1 0 4 ,0 0 0 . S in ce D ec. 1908
th ere has been a gradual Im provem en t In our b u sin ess and up to J u n e 30
th e loss w as cu t d ow n to $ 6 2 ,2 0 8 . D uring 1900 and 1907 th e cities of A l­
to o n a , Sprin gfield, D a y to n , J o liet and S cran ton arranged for con sid erab le
street p a v in g . A large a m o u n t of th is w ork w as d one d urin g 1908-09,
co stin g us $92,374; a further su m of $ 3 7 ,3 4 5 w as ap p lied to m u nicip al
req u irem en ts, m ak in g $ 1 2 9 ,7 1 9 , m o stly for new street p a v in g , of w hich
sum $ 5 4 ,4 2 0 w as charged to m a in ten a n ce a cc o u n t. T o th is sum m u st be
ad ded $ 2 0 ,6 3 1 , due to scrap p in g o b so lete eq u ip m en t and m a ch in ery , and
ren ew a l of storage b a tteries, m a k in g $ 7 5 ,0 5 2 charged to m a in ten a n ce and
d ep recia tio n .
.
. , ,

On the various roads owned by the company wo operate a total oi o»7
cars on 323 H miles of track. All of the properties arc In a satisfactory

G e n e r a l R e s u l t s .— The

Sidings a n d s p u rs_________
.
,
_
S tatio n buUd’gs A g ro u n d s .. 10,179[ M iscellaneous----------------------

1905-06.
1908-09.
1907-08.
1906-07.
592
610
600
Miles operated Ju n e 3 0 .
616
O p e r a tio n s —
1,855,532
1,548,282
1,749.692
Passengers c a rrie d ____
1,897,949
Passengers carried 1 m ile 75,038,705 71,871,428 70.680.044 07,620,774
2.074 cts.
1.850 cts.
2.027 cts
R a te per pass, per m ile. 1.798 cts.
2,821,358
3,428,065
3,378,685
R ev. freight (tons) c ar’d 2,961,152
F reig h t (tons) c a r’d 1 m .422,369,861 411,381,977 518,537,103 523,222,805
0.810 cts.
0.822 cts.
0.796 cts.
R ate per ton per m ile __ 0.825 cts.
306
270
31 1
A ver, train-load (tons) .
300
E a rn , p er pass, tra in m .
(incl. m all & exp. and
$1.14
$1.17
$1.13
$1.23
b a g g a g e )---------- -----2.27
2.48
2.48
2.48
E a rn .p e r freight tra in m.
8,458
0,985
10,011
8,639
Earnings per mile of road
$
$
$
E a r n in g s —
*>
1,432,978
1,402,347
1,329,973
P a s s e n g e r------------------- 1,349,547
3,382,361
4,199,073
4,166,413
F re ig h t________________ 3,482,685
454,827
356,216
352,241
487,154
M ail, express a nd m ls c ..

.
3,521

C°/io ;id s, S t o c k , A c . — C ollateral tru st gold 5s of 1017, a m o u n tin g to
$ 1 ,4 6 8 ,0 0 0 (the rem ainder of tiic $ 2 ,5 0 0 ,0 0 0 Issue, V. 8 4 , p. 136.), t.)19)
h ave b een sold to bankers d uring th e y ea r, and o u t of a part of th e proceeds
$ 8 6 5 ,0 0 0 w as paid on a cc o u n t of th e floating In d eb t ed neM , 1ea v In g th e
floating o b lig a tio n s of the co m p a n y $2 5 0 ,00 0 .
lh e sum of $.)2.>,782 w a s
charged to co n stru ctio n a n d eq u ip m en t, w hich sum w a s ex p en d ed as follow s:
Altoona A Logan V al. E l.R y .$ 3 0 ,953 I B ridgeton E lectric C o .
..$ 1 7 ,6 1 5
C hicago A J o liet E lec. R y.C o. 14,025 H om e E lectric L ig h t A S team
P eoples R a ilw a y C o ________ 4 7 ,5 2 9 , H ea tin g Co ------ ------------- 6 6 ,6 7 3

Springfield R ailw ay Co_____

6,2191 S cranton R ailw ay C o---------- 31,>,o39

B ridgeton & M illville T racBlair E lectric C o— ------------- l,>,8o9
tlon C o______ _____________
9 3 1R eal e s ta te c o m p a n ie s .. . . . 10,677
D urin g th e year your co m p a n y , h a v in g In v iew th e p o ssib ility of secu ring
th e In te r-S ta te R a ilw a y C o .’s p rop erties, Issued a sta te m e n t addressed to
the holders of th e collateral tru st 4% b ond s a greein g to g iv e In ex ch a n g e a
bond of T he A m erican R a ilw a y s Co. b earing 4 ' A % Interest a t 50% of th e
face v a lu e of In te r-S ta te is. A large n um ber of th e holders a v a iled th em ­
selv e s of th is p rivilege, and w e Issued a \ V t % bond bearing Interest from
Jan 1 1910. T he o u tco m e of th e In te r-S ta te tran saction is still u n d eter­
m in ed . (V . 8 8 , p. 505, 374; V. 8 9 , p. 2 2 5 , 286, 721.)
D uring th e year w e Increased the sto ck of I he P eoples R y . Co. of D a y to n ,
O hio, b y Issuing a t par to T h e A m erican R a ilw a y s Co. 7 ,7 5 0 shares a t a par
v a lu e of $100 per share, a m o u n tin g to $ 7 7 5 ,0 0 0 , reducing th e Ind eb ted n ess
of th a t co m p a n y to T he A m erican R a ilw a y s Co. a like a m o u n t, w h ich d eb t
w as Incurred b y th e erection of a new fireproof pow er-h ouse and m a ch in ery ,
ex ten sio n of new tracks an d ra ilw ay eq u ip m en t. It Is g ra tify in g to noto
th a t th e sa v in g In th e cost of co a l, due to im p roved m ach in ery In D a y to n ,
a m o u n ted to $ 1 6 ,0 0 0 .
A l t o o n a A L o g a n v a l l e y E l e c t r i c R a i l w a y C o . — D urin g th e y ea r th e b u si­
ness co n d itio n s wero p oor, o w in g to th e cu rta ilm en t of e m p lo y m e n t In th e
P en n sy lv a n ia R R . sh o p s. H o w ev er, a t th e close o f th e year b usiness
co n d itio n s are m uch b etter as th e P e n n sy lv a n ia R R . Co. is Increasing th e
n um ber of m en em p lo y ed hi Its shop s.
H o r n e E l e c t r i c L i g h t A S t e a m H e a t i n g C o . — T he new pow er p lan t lias
co m e up to our ex p ec ta tio n s In e v e ry p articular. D urin g th e y ea r the
b u sin ess of th e co m p a n y has Increased a b o u t 2 5 % . In J u ly la st w e m ade
a new co n tra ct w ith the T yron e B orough for lig h tin g th e tow n for flvo years.
B l a i r E l e c t r i c C o . — T h e Blair E lectric Co. was Incorporated for th e purpose
of su p p ly in g current for light and pow er In th e B orough o f B cllw ooil, Blair
C o u n ty , P a ., and com m en ced b usiness In S ep tem b er Last, pow er b ein g fu r­
nished from our plan t a t T y r o n e .tW a -a i P M E jfffflS Ia a A i J t v S - f Z i a

C h i c a g o & J o l i e t E l e c t r i c R a i l w a y s C o .— T he con stru ction of th e Corn
P rod u tcs R efin in g Co. p la n t, lo ca ted a t Orgo, a b o u t 4 m iles from Chi­
cago lim its, h as con sid erab ly Increased th e travel from th a t p o in t to A rgo.
T he R efin in g Co. has erected 32 b uild in gs, an d a t presen t Is e m p lo y in g a b o u t
1 ,2 0 0 m en , th e m ajority of w h om tra v el to an d from C hicago o v er ou r
road tw ice a d a y .
T h e liv e stea m railroad com p an ies en terin g J o liet com m en ced w ork la st
y ear on th e elev a tio n of th eir track s. T he w ork shou ld be finished b y th e
en d of th e p resen t calen dar year. T his w ork n ecessita ted th e low erin g of
th is c o m p a n y ’s tracks a t such p oin ts as th e y n ow cross a t grade. T he
co m p letio n o f th is w ork w ill elim in ate all fu ture renew als and m a in ten a n ce
of 27 grad e crossin gs. T he sum saved w ill bo su fficie n t to p a y Interest on
th e In v estm en t of th is com p an y n ecessary to m ak e th e ch an g e, besid es
re m o v in g th e co n sta n t d anger of accid en ts a t th ese p oin ts.
P e o p l e s R a i l w a y C o . , D a y t o n , O .— The large factories In D a y to n are n ow
w ork in g fu ll tim e , and th e receip ts are b egin n in g to sh ow th e eirect of im ­
proved con d ition s. The new pow er h ouse an d m ach in ery erected during
th e year h a v e m ore than fu lfilled our e x p ec ta tio n s, b o th as to pow er fu r­
n ished and ec o n o m y p rod uced . W e hope to com p lete a n ew fireproof car
barn d urin g th e p resent y ear on g rou n d p urchased a b o u t a year ag o .
S c r a n t o n R a i l w a y C o .— T he con stru ction of w ork on th e n ew pow er p la n t,
w hich w as referred to In th e la st a n n u al report, h as b een progressing s a tis ­
fa cto rily , an d th is sta tio n shou ld be In service som e tim e in O ctober.
V arious Im provem en ts h a v e been m ad e, Including d ou b le track s on sev era l
d iv isio n s, renew al of p oles or rep lacem en t b y steel p oles, &e.
W e h op e th a t d uring th e com in g fiscal year n early all of th e Im prove­
m en ts co n tem p la ted a t S cran ton a t th e tim e of th e p urch ase of th e p rop erty
w ill h a v e been p rovid ed for.
C o n s o l i d a t i o n .— Sub sid iary com p an ies w ere m erged as follow s: (1) P ittston J en k in s & A voca S t. R y . C o., 1,500 shares; P lttsto n Suburban P ass.
R y . C o., 000 shares; L ack aw an n a S t. R y . C o., 1,200 shares, m erged in to
a n ew co m p a n y , P lttsto n Suburban P ass. R y . C o.; cap ital s to ck , 3 ,6 0 6
shares, a t $50, $ 1 8 0 ,3 0 0 , all ow ned b y S cran ton & P lttsto n T raction Co.
(2) B la k ely & D ick son T raction S t. R y . C o., 720 shares: C arbondale R y .
C o., 9 ,0 0 0 sh ares, m erged Into a new com p an y, C arbondale R y . C o., ca p ita l
s to c k , 9 ,7 2 0 sh ares, a t $50, $48 6 ,0 0 0 , of w h ich 720 shares ow ned b y S cran ton
4 C arbondale T raction Co. and 9,000 shares ow ned b y S cran ton R y . Co.
S T A T E M E N T

FO R

F IS C A L

Y E A R

1908-09.
In com e from su b sid ia ry c o s --------- $468,662
M iscellaneous In com e___________
58,452
Gross In com e_________________ $527,114

E N D IN G

1907-08.
$479,029
19,728

J U N E
30.
1906-07.
1905-06.
$502,758 $331,831
24,304 *154,881

$ 4 98,757

$527,063

$ 4 86,712

$2,291
13,500
155,854
3 0 5 ,7 0 6

$6,969
13,000
122,535
304,392

$6 ,7 0 7
13,000
121,775
2 5 1 ,3 8 5

$177,351
$21,406
30.

$446,896
$80,167

$39 2 ,8 6 7
$9 3 ,8 4 5

1909.
5,095,100

$

1908.
S
5,095,100

2,435,500

2,435,500

2,500,000

2,500,000

1,499,000
250,000
59,592
37.166
181,306
48,515
504,703

1.499.000
1.115.000
53,675
33,726
168,880
55,241

D educt —

G eneral e x p ., legal e x p ., & c------- $1,562
T a x e s ------------------------------8 ,5 0 0
In terest on fu nd ed d e b t-------------- 206,323
D iv id en d s paid (6 % )___________ 3 0 5 ,7 0 6
T o ta l d e d u c tio n s _____________ $522,091
B a lan ce, su rp lu s, for y e a r ____ $5,023
BALAN CE

190!).
A s s e ts —
S
Stocks and bonds
o w n e d ........... ..a 7 ,324,205
b Bills recciv., <fcc_ 4,957,770
Furn. & fixtures. .
4,833
Engineering Dept.
instruments___
845
Fire Insur. fund In­
vestments .........
189,449
Interest accrued.
15,253
Cash on hand___
118,527
Collat. trust bonds
1917....... .............
...........

SH EET

1908.
S
6,530,405
5,169,431
5,436
939
165,949
15,253
94,389
1.468,000

JU N E

L ia b ilitie s —

lan ital s t o c k ___
Collateral trust con
vertlble 5% bds.
Collateral trust 5%
bonds 1917.........
Trustee Scranton
Ry. pref. stock.
Bills payable.........
Vouchers, &c„ pay.
Accident Ins. fund
Fire Insurance fund
Taxes & lnt. accr.
Profit & loss, surp.

r499,680

T o ta l...................12,610,882 13,455,802
T otal...................12,610,882 13,455,802
a See list In “Street Railway” Section.
b Chiefly advances to subsidiary companies.—V. 89, p. 720.

Underground Electric Railways Co. of London, Limited.
(jR e p o r t f o r H a l f - Y e a r e n d in g J u n e 30 1909.)
Chairman Edgar Speyer, London, Aug. 31 1909, wrote:

The earnings of the operating companies for the half-year
as shown in the report were given in V. 89, p. 471.
B A L A N C E S H E E T .
J u n e 30 ’0 9 . D e c . 31 '08. J u n e 30 '0 7 .
_:
£
£
F reeh o ld land & b u ild in g s a t C helsea,
Inclu d in g ex p en d itu res to d a te on
p ow er house a n d tran sm ission l i n e , . 1 ,3 9 8 ,9 0 5
1 ,3 0 6 ,3 5 6
1 ,3 9 8 ,9 0 5
S to c k s, shares a n d o th er p ro p erty ____ 1 2 ,0 2 5 ,1 9 4
1 5 ,8 7 0 ,9 7 3
12 ,4 7 3 ,9 5 1
1 r e llm lm r y a n d o th er e x p e n se s______
1 0 4,865
1 0 4 ,8 6 5
Com & d isc, on 5% prior lien b o n d s. .
8 0 8 ,0 0 0
8 0 0 ,0 0 0
P a r lia m en ta ry d ep o sit (consols) a t co st _________
1 98,934
x D isco u n t on p rofit-sh arin g n o te s ____ _________
2 8 0 ,0 0 0
S u n d ry d eb to rs, d eb it b a l., lo a n s, & c.
147,121
1 7 9 ,4 0 0
163,976
P ow er-h o u se d ep recia tio n f u n d _________________ 1 15,88094 ,0 0 9
20 5 ,7 1 8
Cash a t sh o rt call a n d on h a n d . . .
3 6 5 ,6 9 2
12 2 ,9 5 6
D eb it rev en u e a c c o u n t________________
28 ,0 7 7
11 ,8 3 7
A s s e ts —

T o t a l-------------L ia b ilitie s —

{ 7 833,761

Share ca p ita l Issu ed ______
_
7,4
5% p rofit-sh arin g n o te s .
5% p rior lien b o n d s_______
*1 “
{
4 H% b ond s of 1 9 3 3 _______________
6 % in co m e b o n d s______________________ 4
P o w er-h o u se d eb en tu r es_____________
L oan s (secu red )_____________________II
R eceiv ed on co n stru ctio n c o n tr a c ts __
S u n d ry cred itors, cred it b a l., & c_____
D ep rec’n rc s’v c C helsea pow er h o u s e ..

1 5 ,4 1 3 ,2 3 5

1 7 ,0 5 8 ,6 1 9

8 3 4 ,6 2 5

4 ,8 3 4 ,1 2 5

000,000
2

1,000,666

4 ,8 3 4 ,1 2 5
7 ,0 0 0 ,0 0 0

8 0 8 ,0 0 0
9 1 2 .0 0 0
77 5 .0 0 0
2 2 5 .0 0 0

2 ,8 0 0 ,0 0 0
4 ,9 0 0 ,0 0 0
7 7 5 ,0 0 0
8 0 9 ,4 5 0

1 63,256
11 5 ,8 8 0

1 97,786
96 ,8 7 4

7 7 5 ,0 0 0
1 ,2 3 4 ,2 9 4
3 ,7 2 3 ,2 9 2
3 5 0 ,9 0 6
4 1 ,0 0 2

1 5 ,4 1 3 ,2 3 5

1 7 ,9 5 8 ,6 1 9

T o t a l------------------------------------------------ 1 4 ,8 3 3 ,7 6 1

S hare ca p ita l con sists of 5 0 0 ,0 0 0 o rd in ary shares o f £10 each- less
calls u n p a id , £ 1 6 5 ,3 7 5 .— V . 89, p . 471.
v

Susquehanna Railway, Light & Power Co,
CR e p o r t f o r F i s c a l Y e a r e n d in g J u n e 30 1909.)
President George Bullock says:
In v ie w o f th e co n tin u ed b u sin ess d ep ression In m a n y o f th e cities In
w hich o u r su b sid ia ry co m p a n ies are o p era tin g , th e re su lts, w hich sh o w
an increase in n et earning? in ex c ess of 1 0 % , are con sid ered very sa tisfa c to r y .
Y our directors fe e l ju stified , on a cc o u n t of th e in crease in th e earnings
of th e su b sid ia ry co m p a n ies, in a u th o rizin g th e s e ttin g up of a rea so n a b le
reserve to m e e t d ep recia tio n ch arges a n d a m o rtiza tio n exp en d itu res for
th e en su in g y ea r.
D urin g th e y ea r a sum In ex c ess o f $ 7 0 0 ,0 0 0 w as a u th o rized a n d e x ­
p ended for ex ten sio n s, ad d itio n s a n d b etterm e n ts to th e various properties
In order to m eet a b so lu te requ irem en ts m ade n ecessary b y Increased
b u sin ess.
T h e efficien cy of th e p rop erties has b een g re a tly in creased d u rin g th e
p a st y ea r th rough th e org a n iza tio n o f an e lle c tlv e C om m ercial D ep a rtm en t,
and eco n o m ies In o p era tio n secu red th rough th e co-op eration o f th e local
m a n a g ers. T h e r e v iv a l o f b u sin ess n ow u nd er w a y w ill ten d to Increase
our earnings d uring th e en su in g y ea r.
E A R N I N O S F O R Y E A R E N D I N G J U N E 30 .
1908-09.
1 907-08.
N e t e a r n s . su b sld . co s. accru in g to S u sq u eh a n n a Co. $ 4 7 0 ,0 7 0
$ 4 1 3 ,3 1 5
108,183
95 ,9 6 0
E arn in gs secu rities h e ld ________________
I n te rest on loan s to su b sid iary co m p a n ies______
28 ,0 8 9
3 3 ,4 3 2
In te r e st on cash b a la n ce_________________________
2,752
1,082
M iscellaneous I n c o m e _____________________________
2,3 6 8
7 ,6 9 0
T o ta l n et ea r n in g s______________________________
D e d u c tio n —
I n te rest on U n ited Gas & E lectric Co. b o n d s____
In te r e st on L an caster C ou n ty R y . & L t. Co. bonds
D lv s. o n U n ited Gas & E lectric Co. p ref. s t o c k ..
D lv s. o n L an caster Co. R y . f t L t. Co. p ref. s to c k .
D lv s . o n S u sq . R y ., L t. & P . Co. p ref. s to c k ____

$ 6 1 2 ,3 6 2

$ 5 5 1 ,4 7 9

$89,051
$ 8 6 ,3 7 5
50.000
50 .0 0 0
5 8 ,6 0 5
58,605
50 .0 0 0
50 .0 0 0
*2 0 4 ,6 1 0 (5 % ) 1 3 1 ,6 3 2

T o ta l d e d u c tio n s_______________ _______________
$4 5 2 ,2 6 6
$3 7 6 ,6 1 2
U n d iv id ed su rp lu s________________________________
$160,096
$1 7 4 ,8 6 7
T h e n et re v en u e w as Insu fficien t to m eet th e h alf-yearly ch arges b y
£ 1 6 ,2 4 0 . T o co v e r th is d eficit M essrs. S p eyer h ave purchased from th e
• A t ra te o f 5% sin ce d a te o f org a n iza tio n .
co m p a n y , in accord an ce w ith th e agreem en t of A pril 7 1908, £10 ,7 0 0 4 M %
B A L A N C E S H E E T J U N E 30 .
b onds of 1933 a n d £16,050 0% Incom e bonds for th e sum of £16,0 5 0 .
1909,
1908.
T h is d eficit Is a p p a ren tly larger b y £4,403 th an th a t show n In th e first
1909.
1908.
.lssris—
$
S
rev en u e a cco u n t su b m itte d In F ebruary la st, v iz : £11,837. T h a t a cc o u n t,
L ia b ilitie s —
$
$
h o w ev er, Includes m ore th an on e h alf-yearly d ivid en d on th e c o m p a n y ’s Bonds & stocks sub­
Preferred stock ......... 4,092,406 4,092,200
sidiary
com
panles.8,308,930
8,185.564
holdings o f shares In th e tu b e com p an ies, and a large part of th e fixed
Common s to c k ____ 4,034,600 4,034,500
Bills and accounts re­
charges had been charged to cap ital u nd er th e sch em e of read ju stm en t.
Advances to sub. C03.
ceivable ................ 256,957 513,236
1
*,lcornc. from In vestm en ts for th e six m on th s sh ow s an Increase of
for constr’n, A c .. 281,974 506,643
£ 2 2 ,0 6 5 , or a b o u t 40% o ver th a t In th e p revious h alf-year. T h is resu lt Office supplies and
; ln t. deposit of subhas b een ob tain ed n o tw ith sta n d in g th e fa ct th a t th e th ree tu b e com p an ies
fix tu re s_________
3,028
2,340 i sldlary com panies.
34,493
7,075
from w hich tills com p an y receives d ivid en d s h ave s e t asid e Tor con tin gen cies Cash on hand............
60,324
75,100 j Accounts p a y a b le ...
2,649
2,765
a n d renew als o u t of th e n et earnings of th e Inst six m on th s th e follo w in g
DIv. payable July 1
am ou n ts: B ak er S t. & W aterloo R y . C o., £4,000: G reat N orth ern P icca ­
to Un. G. & El.Co.
29,302
29,302
d illy ft, B ram p ton R y . C o., £6,000; C haring Cross E u ston & H a m p stea d
S u rp lu s...................... 154,121
103,755
R y . C o., £3,000; to ta l, £13,000. T he M etropolitan D istrict R y . Co. has
a lso s e t asid e for renew als ou t o f th e n et reven u e of la st h alf-yea r th e sum
T o t a l----------------- 8,629,239 8,776,2401 T o t a l...................... 8,629,239 8,776,240
o f £10,000.
— V . 8 7 , p. 1416.
P o w e r H o u s e , C h e l s e a . — T he n et o u tp u t of electric en ergy from th e pow er
h ouse d uring th e half-year w as 60 ,1 5 2 ,5 8 8 k ilow att hours.
F u n d e d D e b t a n d T e m p o r a r y L o a n . — A rrangem ents h ave been m ad e, and
The Lehigh Valley Coal Company.
arc In course of being carried o u t, for th e Issue and sale of £1,00 0 ,0 0 0 4%
pow er h ouse first d eb en tures for th e p urpose of redeem in g £850,000 4 L-j ?o
{ R e p o r t f o r F i s c a l Y e a r e n d in g J u n e 30 1909.)
p ow er h ouse d eb en tu res and £150,000 4 J^% pow er h ouse secon d d eb en tures
The entire capital stock is owned by the Lehigh Valley
n ow o u tsta n d in g . At Ju n e 30 th ere w as a loan ou tsta n d in g of £225,000
(as com pared w ith loans of £809,450 D ee. 31 1 908), w hich w ill be paid oir R ll. Co., whose annual report will be found on accompanying
on th e red em p tion of th e o u tsta n d in g 4 'A % pow er h ouse d eb en tures and
pages of this issue. President E. B. Thomas, Philadelphia,
pow er h ouse secon d d eb en tures on O ct. 1 n e x t. (V . 8 8 , p . 1501.)
S t o c k s , S h a r e s a n d o t h e r P r o p e r t y ( o t h e r t h o u P o w e r H o u s e P r o p e r t y ) .— T h is
Sept. 29 1909, says in substance:
Item sta n d s on th e b ooks a t £ 1 2 ,0 2 5 ,1 9 4 . T h e com p an y received u nd er th e
G e n e r a l R e s u l t s .— T h e n et in com e for th e fiscal y ea r a m o u n te d to $ 3 7 5 ,4 5 2 ,
co n stru ction con tracts during th e h alf-year £74,000 4% G reat N orthern
a
d ecrease o f $ 1 3,154 as com pared w ith th e p revious tw elv e m o n th s.
P icca d illy & B ram p ton p erp etu al d eb en ture sto ck and credit of £8 per share
T h e to ta l p rod uction o f a n th r a cite coal from th e la n d s o w n ed and
on th e follow in g shares heretofore £2 p aid , v iz .; 250 G reat N orthern P icca ­
co n tro lled b y th e co m p a n y and a ffilia ted co m p a n ies w as 7 ,7 3 4 ,0 7 8 gross
d illy f t B rom p ton 4% gu aran teed p reference shares; 4 4 ,7 0 0 G reat N orth ern
P iccad illy & B rom p ton ord in ary shares; 3 1 ,2 5 0 Charing Cross E u sto n & to n s, a d ecrea se of 1,5 2 9 ,8 2 1 to n s, or 1 6 .5 1 % , as com p ared w ith the
p reced in g year; 2 8 8 ,4 5 7 gross ton s o f b itu m in o u s coal w ere m in ed from
H am p stead ord in ary shares. T h e redu ction of £448,756 In th e figures
th e S n o w S h o e p ro p erty , an Increase o f 1 2,303 to n s.
sh o w n In th e b alance sh e et as com pared w ith th e correspon d in g figures
T h e co n d itio n s surrou nd ing th e a n th r a cite coal Ind u stry d uring th e y ea r
D ec. 31 1908 (£ 1 2 ,4 7 3 ,9 5 1 ) su b sta n tia lly results from (1) th e sale of £290,u nd er rev iew h a v e b een far from s a tisfa cto ry . A s a resu lt o f th e tw o
yJnn
N orthern P iccad illy & B rom p ton p erp etu al d eb en tu re sto ck ,
u n u su a lly m ild w in ters a n d th e gen eral cu rta ilm en t o f com m ercial a c t iv it y ,
£ 2 0 0 ,0 0 0 4 /0 Charing Cross E u ston & H am p stead p erp etu al d eb en ture
th e d em an d fo r coal fell olT co n sid era b ly . T h is o ccasion ed Irregular w ork in g
sto ck and £0,000 4
pow er h ouse debentures; (2) th e purchase of 250
o f th e co llieries a t Increased c o st. T he d rou gh t d uring th e sum m er and fall
G reat N orth ern P iccad illy & B rom p ton 4% gu aran teed p reference shares,
o f 1908 m ade It ex c eed in g ly d iffic u lt and e x p en siv e to o b ta in th e req u isite
£2 p<Tl(l.
a m o u n t o f w a ter a n d en forced th e susp en sion o f m in in g a t certain co llieries
R E V E N UE ACCO U N T .
e w hen th e y could h a v e b een worked m o st advantageously-. T h en ,
„
. ,
H- Y ea r end. M- Y ea r en d . atot oa, tim
th e u n c erta in ty In th e lab or situ a tio n m ade l t a d v isa b le to sto ck large
R eceipts—
J u n e 30 ’09.
D ec. 31 ’0 8 .
q u a n tities of coal: th is fu rth er Increased th e e x p en se o f o p eration during
In com e from in v e s tm e n ts . ...........................
£77,391
a £55,325
tlie y ea r . T h e lab or situ a tio n w-as fin ally a d ju sted b y ex te n d in g th e aw ard
D lv s. for h a lf-y ea r en d in g J u n e 30 1908, received
of th e A n th ra c ite S trik e C om m ission for a period o f th ree years from A pril 1
a fter J u ly 21 1908__ ______________ ____
3 3 ,6 3 7
1909 u pon th e sam e general term s and co n d itio n s.
N e t Incom e from op eration of pow er h o u s e .. "
40 660
4 0 ,9 3 2
I m p r o v e m e n t s .— In a d d itio n to ex p en d itu res w hich w ere a m p le for m a in ­
R en ts of p ro p erties--------- ---------------------- --------1,090
5440
ten a n ce, ad d itio n s and b etterm e n ts a m o u n ted to $ 4 8 7 ,1 7 8 , a d ecrease
o f $267,051 as com pared w ith th e p reviou s y ea r . I t is o n ly b y co n cen ­
T o ta l r e ceip ts________________________________
£119,141
£ 1 30,334
tra tin g b reak er o p era tio n s, Installin g Im proved m a ch in ery and Increasing
E x p e n d itu r e s —
th e p ercen ta g e of prepared size s, cen tra lizin g p ow er a n d p um p ing p la n ts,
D irectors’ and tru ste e s’ fees, salaries, rent& gen . ex p
£9,277
c £9,052
and
co n stru ctin g tu n n els for n atural drain age th a t th e c o st o f m in in g can
In terest on b onds and d eb en tu r es---------------------110,375
1 01,718
be k ep t w ith in reason ab le lim its. T he co st o f p rod ucin g coal Is each y ea r
P a y m e n t under g u aran ty on M et. D lst. R y . assen ted
’
sh o w in g a serious Increase, o w in g to th e grad u al ex h a u stio n o f th e th ick er
ex ten sio n p reference s to c k ___________________
9 404
f/18,807 and m ore ch ea p ly m ined v ein s n ear th e su rfa ce, m a k in g l t n ecessa ry to
G eneral I n t e r e s t .._____________
5,182
12,593
work th in n er v ein s a t g rea ter d ep th s and lon ger d ista n ces from th e o p en in g s.
R en ts an d exp en d itu res for le ttin g ----------- ---------------1 ,’ 143
(6)
T his Increases th e co st o f th e u nderground o p era tio n s and of p u m p in g and
v e n tila tin g .
T o ta l e x p e n d itu r e s ----------------------------£135,381
£142.171
T h e n ew breaker p la n t a t S pring M ountain is n ow In op eration; Its to ta l
D a lan ce, d e fic it_______ ________
£16 ,2 4 0
£ 1 1 ,8 3 7
co st w as $ 3 7 4 ,1 6 0 , o f w hich $ 2 0 7 ,0 4 9 w as ex p en d ed durin g th e fiscal y ea r .
a In clu d es £33,992 In resp ect of d ivid en d s proposed b u t n ot y e t d eclared .
In a d d itio n to coal from n ew field s, th is b reak er Is h a n d lin g th e co a l from
0 R en ts of p rop erties arc sta te d n et for h alf-year en d in g D ec. 31 1908 a fter
O n eida a n d Spring B rook co llieries, w hich h as en a b led th e a b a n d o n m en t
d ed u c tin g ex p en ses, c From J u ly 21 1908. d P a y m e n t for fu ll y r ., 1908.
o f th e breakers a t th o se tw o p o in ts w ith th e a tte n d a n t ex p en se o f o p era tio n .




\11 o f th e W y o m in g V a lle y Coal Co. lirst m ortgage b on d s of 1882 have*
th rou gh th e sin k in g fu n d , b een p aid , and th e m o r tg a g e ,o r ig in a lly $ 5 0 0 ,0 0 0 ,
has b een d isch arged o f record.
T h e p a y m en ts to th e sin k in g fu nd s of th e sev era l m ortgages a m o u n te d
durin g th e y ea r to $ 1 8 0 ,0 2 3 .
N o tw ith sta n d in g th e restricted op eration s, m in in g w as so c o n d u c ted from
th o se lan d s held u nd er lea se as to cau se no Increase In th e a d v a n c e ro y a lty
a c c o u n t, th e sam e sh ow in g a slig h t red u ction a t th e close o f th e y ea r .
C urrent a sse ts are $ 4 ,948,151 in e x c e ss o f cu rren t lia b ilitie s.
P R O F IT A N D

LO SS A C C O U N T S F O R

N e t Incom e for y e a r __________________
D e d u c t — R o y a lty s e ttle m e n ts ________
F or im p ro v e m en ts______________ _.
M iscellaneous a d j u s t m e n t s ,- ___ ,

Y E A R S E N D IN G

1908-09.
$ 3 75,452
37,8 6 3
______
4 1 ,5 3 7

108,609

T o ta l_____________________
$ 7 9 ,4 0 0
B alan ce to su r p lu s_________
5296,052
Profit a n d loss, su rp lu s, b egin n in g y ea r 1 ,9 7 6 ,8 4 5

30.
1 906-07
$11 1 ,2 5 0

J U N E

1907-08.
$3 8 8 ,0 0 6
91,016

2 5 0 ,0 0 0
4 7 ,8 3 3

$ 1 9 9 ,0 2 5
§2 9 7 ,8 3 8
$188,981 d e f.5 1 8 6 ,588
1 ,7 8 7 ,8 6 4
1 ,9 7 4 ,4 5 2

on July 1 1914 or any interest date thereafter at 105 and in­
terest. Interest J. & J. Par $1,000 (c*). All the $750,­
000 old first mortgage 5s due 1941 have been canceled and
mortgage discharged.
Of th e n ew b o n d s, $ 1 ,0 0 0 ,0 0 0 w ere Issuable fo rth w ith . F u rth er a m o u n ts
can be certified o n ly for an a m o u n t of principal eq u a l to 80% of p erm an en t
Im provem en ts a n d a d d itio n s on sw orn ce rtlilca tes a s to sa m e, b u t o n ly In
ease th e n e t earn in gs for th e tw e lv e m o n th s n e x t p reced in g , a fter allo w in g
10% for d ep recia tio n , shall h a v e been n o t less th an T V i V o on a ll b ond s o u t­
sta n d in g a n d th en p rop osed to be Issu ed , or, p rior to J u ly 1 1910, shall
h a v e been a t th a t rate sin ce J u ly 1 1909. A nnual sin k in g fu n d to be n ot
less than th e fo llo w in g sum s In ea ch year: $ 1 0 ,7 5 0 , 1014 to 1917; $ 2 1 ,5 0 0 ,
1918 to 1921; $ 3 2 ,2 5 0 , 1922 to 1-925; $ 4 3 ,0 0 0 , 1926 to 1929; $ 5 3 ,7 5 0 , 1930
to 1033; $ 6 4 ,5 0 0 , 1934 to 19 3 8 .
Bo3 ton & Maine RR.— I n d i r e c t l y C o n tr o lle d b y N e w Y o r k

N e w H a v e n tfc H a r tf o r d R R . —See report of that company on
a preceding page.
R e p o r t . —-See “Annual Reports” on another page.— V. 89,
Profit an d lo ss, su rp lu s, en d y e a r — $ 2 ,2 7 2 ,8 9 7
$ 1 ,9 7 6 ,8 4 5 $1 ,7 8 7 ,8 6 4
p. 408, 347.
C O N D E N S E D G E N E R A L B 4 L A N C E S H E E T J U N E 30.
1909.
1908.
Boston Suburban Electric Companies.— R e d u c tio n of
1909,
1908.
L ia b ilitie s —
$
S
A s s e ts —
S
S
S to c k . —The stockholders voted on Sept. 30 to reduce the
Property & p la n t-18,639,021 18,624,445 Capital stock......... 1,965,000 1,985,000
capital stock by retiring 4,694 shares of preferred and 1,173
Securities ow ned-100,000
100,000 Funded deb t......... 13,138,500 13,208,500
Sink. fd. with trus. 1,867,088 1,655,633 Certs, of In d eb t.-.10,537,000 10,537.000 shares of common stock originally issued for the purchase
Audited vouchers, 3,638,529 3,657,684
Advances f)r coal­
488,330 of the Waltham Gas & Electric Co., which was recently sold,
mining rig i s._ 4,893,929 4,900.902 Wages due &unpd. 392,703
Due Indlv. & c o s ..
201,414
90,009 to retire additional common and preferred shares for which
Cash on deposit &
455,831 Royalties on coal
In transit......... ..
338,700
mined, due lessors 56,360
170,968 tenders are asked at the Boston Safe Deposit & Trust Co.
Stock coal on hand 4,815,032 4,340,624
333,513 Interest on funded
Materials and supp 314,563
Not over $600,000 cash is to be used and not over $2,000,000
323,279
debt, accrued - - 322,462
221,943
Bills receivab le.-.
49,692
Compare V. 89, p. 720.
327,305 of 4% 10-year notes.
M iscellaneous----446,163
Due from Individu­
als & companies 4,056,217 3,928,707 Depr. & other res . 2,148,540 1,877,135
Boston
Railroad
Holding
Co.—See report of New York
1,976,845
Profit
and
loss___
2,272,897
Insurance & other
New Haven & Hartford RR. on a preceding page.— V. 89,
60,456
deferred assets. 45,328
Total liabilities .35,119,570 34,622,055 p . 777, 528.
Total assets___ 35,119.570 34.622,055
Brookville & Mahoning RR.— N e w N a m e — E x t e n s i o n . —See
New York Dock Company.
Pittsburgh Shawmut & Northern RR. below.—V. 85, p.1645.
( R e p o r t fo r F i s c a l Y e a r e n d in g J u l y 31 1909.)
Buffalo & Susquehanna R y.— I n c r e a s e d E a r n i n g s . —The
President F. S. Landstreet, Sept. 21 1909, writes in sub­ preliminary report of earnings for two months ended Aug. 31
stance:
1909, it is pointed out, shows available net income of ap­
T h e Im p rovem en ts m ad e d uring th e y ea r Include th e ex ten sio n s of p iers proximately $127,500, an increase approaching 20% over
N o s. 19, 2 2 , 26, 27, 29 an d 30 to th e n ew pier h ead line; e x te n s iv e repairs to
This in­
pier: Mo. 15; Are doors In sto res N o s. 32, 33 and 34; d riv ew a y s In sto res the earnings of the corresponding period of 1908.
Nos" 17, 22, 25, 29, 34 an d 50 an d R ob erts an d Pren tice; rebu ilding sto re crease is stated to be largely due to the substantial im­
N o 6 0 - co n stru ctio n o f an a lle y w a y from V an B ru n t to C onover s treets
anti to th e bulk head a t th e R ed H ook stores; la y in g con crete floors In stores provement in the demand for bituminous coal, shipments of
N o s. 57, 58 an d 59; spiral d eliv ery ch u tes In stores N o s. 33 an d 342; 96 Im­ this commodity alone having increased nearly 45% over
p roved d ock tru ck s, 2-45 ton h ydraulic jacks; recon stru ctin g float N o . 6
July and August of 190S.— V. 89, p. 665.
a n d railroad en gin e N o . 6; all a t a to ta l co st o f $ 2 2 4 ,9 4 2 . In a d d itio n ,
th ere w as sp e n t for repairs on w areh ou ses, d o ck s, tools a n d railroad prop­
Canadian Pacific Ry.— G u a r a n te e d B o n d s . — See Aroostook
e r ty $ 5 5 ,9 7 6 , w hich w as ch arged to op eratin g ex p en ses. T h e sum of $ 5 0 ,­
Valley (Electric) RR. above.— V. 89, p. 726, 716.
077 w as ch arged off for d ep reciation o u t o f th e surplus a cc o u n t.
A t a m eetin g of th e board to -d a y a d ivid en d o f 2% on th e preferred sto ck
Chattanooga (Tenn.) Railway & Light Co.— F i r s t D i v i ­
w as d eclared p a y a b le O ct. 15 1909 to stock h old ers o f record Oct'. 1 1909.
A sim ilar d iv id en d w as paid on th e sam e d a te la s t y e a r a n d a n o th e r of 2%
d e n d . — A quarterly dividend of 1 % % has been declared on
on A pril 15 1909.
the preferred stock, payable Oct. 1. This is the first dis­
IN C O M E A C C O U N T F O R T H E
Y E A R E N D IN G
J U L Y
31.
tribution by the consolidated company, which was incor­
1905 -0 6 .
1906-07.
1007-08.
1908-00.
porated recently under the laws of Tennessee.
5
$
$
$
Gross e a r n s, from storage
B o n d s O f fe r e d .— Hodenpyl, Walbridge & Co., 7 Wall St.,
of graln& m d sc., w harf­
2 ,1 3 0 ,9 8 0
1 ,0 6 7 ,0 6 0
1,839,063
a g e , re n ts, R R ., & c .. 2,639,281
New York, are offering at 9 6 ^ and interest $1,600,000 “first
E xpen ses—
16,673 and refunding mortgage” 5% gold bonds, dated Aug. 1 1909
13,807
12,147
910,786
W arehou se rep airs_____
20,237
2 5 ,5 3 7 and due May 1 1956. but subject to redemption after May 1
15,303
104,084
Dock rep airs___________
19,819
17,245
26,032
23,213
D r e d g in g ----------------------1916 at 105 and interest. First coupon payable Nov. 1 1909
6 7 ,9 3 2
76,371
75,321
74,233
In su ran ce --------------------2 9 3 ,6 1 5 for the period from Aug. 1; thereafter interest payable semi­
295,842
3 1 0,753
332,273
T a x es _________________
4 7 6 ,0 2 0
456,001
4 2 8 ,630
281,574
O th er op era tin g exp en ses
annually (M. «fc N.) at New York or Philadelphia. Par,
8 9 0 ,5 9 6
$1,000 (c*). Fidelity Trust Co., Philadelphia, trustee. The
8 8 9 ,1 9 0
8 5 9 ,399
1,726,163
T o ta l e x p e n s e s ______
1 ,2 3 1 ,3 8 4
1 ,0 7 8 ,7 7 0
979,664
913,118
N e t ea r n in g s----------------company owns the entire street railway and electric lighting
11,574
O th er I n c o m e __________
business in Chattanooga and vicinity, serving a population
1 ,2 3 1 ,3 8 4
1,0 7 8 ,7 7 0
979,664
924,692
T o ta l n e t Incom e-----of about 75,000. It is successor of the Chattanooga Railways
D e d u c t—
4 6 8 ,5 7 5
4 7 2 ,0 0 0
Co. and the Chattanooga Electric Co., formerly owned by
4 7 2 ,0 0 0
4 7 2 ,000
I n te r e s t o n 1st m tg e . 4s_
(3 )3 0 0 ,0 0 0
(4 )4 0 0 ,0 0 0
D Ivs. on p ref. s to c k ------ (4 )4 0 0 ,0 0 0 (4 W 4 5 0 .0 0 0
distinct interests; the electric company, however, supplied
5
6,628
3
8
,5
7
0
50,077
50,024
D ep reciation c h a r g e s -. .
f/34,512 power to the railways company
t i l , 949
2564 x cr. 2 ,065
M isc e lla n e o u s --------------D is c o u n t o n b ond s s o ld .

“

666

B a la n c e .

1 0,902

666

B a la n ce , su r p lu s-------R en ew al fu n d ---------------

7,076
7,076

170,265
100,000

3 6 0 ,7 6 7
1 5 0 ,0 0 0

7 0 ,2 6 5

2 1 0 ,7 6 7

In clu d es ju d g m e n t r covered b y R . P alm er & S o n , $ 2 ,3 2 0 , less a d ju s t­
m en t of ta x e s , $2 9 7 , and old a cc o u n ts recovered , $75. x C redit a p p lica b le
to 1906 a c c o u n t, v In clu d es $ 3 1,222 u n expired Insu ran ce, tak en cred it for
on J u ly 31 1905. 3 A d ju stm en ts 1907 a c c o u n t.
„ , ,
,
" T he A u d it C om pany of N ew Y ork h as m ad e a fu ll a u d it o f th e b o o k s
of th e com p an y for th e sev en years en d in g J u ly 31 1 9 0 8 .”
a

B A L A N C E

SH E E T J U L Y

31.

1909.
1908.
S
8
P ro p erty ................28,336,091 28,131,977
Terminal property
540.000
550.000
Cash in bank.........
259,802
680,849
Bonds In treasury.
200,000
200,000
Accts. receivable.
187,290
179,428
Acc’d earns., n et.
859,910
577,495
M iscellaneous___
181,576
216,435

1909.
1908.
8
S
Common s to c k .. . 7,000,000 7,000.000
Preferred s to c k .. . 10,000,000 10,000,000
First mtge. b on d s.12,000,000 12,000,000
Accounts payable.
23,271
5,251
Due railroads----16,248
25,843
Accrued taxes___
283,425
258,628
Loss&damage cl’ms
238
5,642
S u r p lu s................. 1,241,480 1,240,819

Total ..................30,564,669 30.536,183
— V. 89. p. 781.

T o t a l..................30,564,069 30,536,183

A s s e ts —

GENERAL

L ia b ilitie s —

IN V ESTM EN T

NEW S.

RAILROADS, INCLUDING ELECTRIC ROADS.
Aroostook Valley (Electric) RR. — N e w R o a d .— B o n d s
G u a r a n te e d .—The company has almost completed a first
unit of 12 miles of single-track electric road extending from
Presque Isle to Washburn, Me. The road will connect on
the south with the Canadian Pacific, which guarantees the
interest on the 20-year 4 ^ % bonds issued for construction
at not over $25,000 per mile. The company was incor­
porated in 1902 with $100,000 authorized capital stock, all
now outstanding. Some, if not all, of the bonds have been
sold.
Asheville (N. C.) Electric Co. -N e w B o n d s .— A mortgage
was filed not long ago to the Old Colony Trust Co. of Boston,
as trustee, to secure not exceeding $3,500,000 5% gold bonds
dated July 1 1909 and due July 1 1939, but subject to call




Abstract of Letter from President C. M. Clark, Philadelphia, Sept. 15 1909.
C a p ita liz a tio n

o f th e C o m p a n y .

. . $ 5 ,0 0 0 ,0 0 0
S to ck ($ 2 ,0 0 0 ,0 0 0 Is preferred 5% c u m u la tiv e )----------“ F irst and refu n d in g m o rtg a g e” 5% gold b ond s, Issue lim ited to
$ 1 5 ,0 0 0 ,0 0 0 , to retire u n d erly in g bonds and for im p ro v em en ts,
presen t I-sue _
._ ________________________________________ i,o u u ,u u u
Reserved" t o ’ retire rem a in in g o u tsta n d in g railw ays bonds
(closed m ortgages) for a n eq u al a m o u n t------- --------------------- 2 ,7 0 0 ,0 0 0
R eserv ed for fu tu re ad d itio n s and b etterm e n ts

..nrl.. n,nc»rnMvi> restrictions

____ . 51U,0 1U,UUU

Prop
sub]
proper
w hich i
‘“
i s s f t f a d d itio n a l Pbom ls” ls c o n s e ^ a tfv e fy restricted to ^ m b u r s e
th e co m p a n y for n o t to e x c e e d 85%. of th e a ctu a l cash c o st of perm an en t
a d d itio n s, b etterm en ts and e x te n sio n s, a n d th en o n ly w h °n th e n et-earn ings
for th e p receding tw elv e m o n th s shall h a v e b e e n .^ V m fn n ’ n iiv ^ m r^ n f1 th e
the annual in terest on all b ond s th en o u tsta n d in g u pon a n y p .u t o f th e
p rop erty, Including a n y b ond s so u g h t to be Issued. The to ta l au thorized
m ortgage Is large, b ecau se ex p er ien ce h as show n th a t com p an ies operating
p ub lic u tilities In grow ing co m m u n itie s require large a m o u n ts of now m o n ey
to p rovid e for th e ex ten sio n s an d eq u ip m en t.
C o m b in e d E a r n i n o s o f th e P r e d e c e s s o r C o m p a n ie s A p p l i e d to P r e s e n t I n te r e s t
('h a r g e s .
Y ear
Y ear
12 M o s . e n d .
1907.
1908.
J u n e 30 ’09.

T o ta l gross incom e
.
.......... ..........
O p eratin g ex p en ses and t a x e s . - ............

u z s .o r s

$ 8 30,360
564,579

$858,963
580.496

$ 2 13,524
$265,781
N e t Incom e
In te r e s t on o u tsta n d in g 'r a ilw a y b o n d s (closed m o rtg a g es)---------- 139,500
B a la nce o f n et earnings . - .................---------------- ■ ■ --......... $1 3 8 ,9 6 7
" o f the p resen t Issue o f $ 1 ,600,000 of " lirst and refu n d in g b ond s," Interest
on $ 1 ,300,000 o n ly can prop erly b e ch arged a g a in st th e warnings for th e
y ea r en d ed J u n e 30 1909, th e p roceed s of th e rem ain in g $ 3 0 0 ,0 0 0 bonds
being a v a ila b le for Im provem en ts w hich w ill bo m ad e during th e com ing
year?
of tne
the tw o co
m p aan
n ies upuiatuu
op erated Kup.irai.oiy
sep a ra tely w
ere th
year. P a st earnings ot
com
wuiu
m crcu.
..........
....................
. charge ....
>i,.w bonds
min s aa fte
fore1 d o u b le the
an nu
al Interest
on ithhee $s i1 ,3amt
0 0 ,0ooo
0 0 «f
of new
fte rr
d ed u ctin g th e Interest on the railw ays bond s. T h e p roceed s of th e present
Issue of $ 1 ,6 0 0 ,0 0 0 b onds can cel th e en tire b ond ed d eb t ot th e p red eccssoi
electric co m p a n y , w hich in clu d ed th e m ain g en er a tin g p la n t, d istrib u tio n
sy ste m and en tire electric lig h tin g an d pow er b u sin ess, u pon whk'h thls
Issue Is now a lirst lie n , and In a d d itio n p rovid e a m p le fu n d s for increased
ca p a city now being Installed , and for e x te n s iv e Im provem en ts n ow b ein g
carried o u t on b oth the ra ilw a y and electric s y ste m s. T h ese cx p en cu tu ics
should add m a teria lly to th e gross and n e t earnings and a t-th e sa m e tim e
perm it o f grea ter eco n o m y In o p era tio n . '1'ho co m p a n y Is free from flo a tin g
d eb t o th er than current lia b ilities a n d b ills p a y a b le o f $ 4 0 ,0 0 0 .
T hrough a ssig n m en ts ap p ro v ed b y th e C ouncil of C hattan ooga th e com ­
p a n y o w ns all rights under franchises- acq u ired b y th e p reviously e x istin g

co m p a n ies. T h ese fran ch ises a re u n lim ited in p oin t of tim e , w ith th e e x c e p ­
tion o f a few m in or e x te n s io n s , an d con tain no b urdensom e restrictio n s.
T he eq u ip m en t o f th e p rin cipal gen eratin g sta tio n Is m odern an d Includes
s ix tu rb in es and a cc esso ries. A fu rth er Installation Is n ow b ein g m ade to
g iv e an a d d itio n a l 1,500 h .-p . c a p a city . T h e com b in ed gen eratin g p lan ts
h a v e a p resen t ca p a c ity o f a b o u t 0,132 h. p . T h e railw ays sy ste m op erates
a b o u t 54 m iles of e q u iv a le n t sin g le track , and has large car barns and shop s
o f la te st fireproof co n stru ctio n .— V . 89, p . 285.

Columbus Delaware & Marion (Electric) Ry.— O n e R e ­
E. B. Kinkead of the Common Pleas
Court at Columbus, O., on Sept. 27 removed George Whysal 1 as co-receiver on account of alleged irregularities and
his interest in behalf of certain stockholders.
Eli West
of Columbus, the other receiver, will have entire charge of the
road.— V. 89, p. 592, 528.
Cripple Creek Central R y.—R e p o r t . — For the year ending
June 30 the results of this holding company were:
c e iv e r R e m o v e d . —Judge

F is c a l

G ross

E xpen ses

P referred

C om m on

B a la n c e ,

Y ea r—
T n c o m e . N . Y .O f fic e .
D iv id e n d s .
D iv id e n d s . S u r p lu s .
1 0 0 8 -0 9 ........... .5 1 9 5 ,7 3 4
5 1 4 ,0 2 5
(6?£)$ 1 8 0 ,0 0 0
__ .
81 ,7 0 9
1 9 0 7 - 0 8 , . , ...... 2 2 2,058
13,869
(2% )G 0,000 (3 % )5 7 5 ,0 0 0 73 ,1 8 6
1 9 0 6 -0 7 ________ 2 9 2 ,8 4 5
14,7 7 5
(4% )1 2 0 ,0 0 0 (6 % )1 5 0 ,0 0 0
8,071
T h e p referred d iv id en d s as a b o v e in clu d e In 1908-09 3% paid S ep t. 1 1908
for th e 9 m on th s en d in g Ju n e 30 1908 an d 1% each paid D ec. 1908 a n d
March and Ju n e 1909, and in 1907-08 1% ea ch , paid J u ly a n d O ct.
1907. T h e to ta l surplu s J u n e 30 1909 w as 517 2 ,6 1 5 .

N e w O f f i c e r . — L . S e m p le h a s b e e n e le c te d V ic e -P r e sid e n t
to su c c e e d C h a rles F . A y e r a n d a lso a m e m b er o f th e e x e c u ­
t iv e c o m m it t e e .— V . 8 7 , p . 1 532.

D e la w a r e & H u d s o n 0 o .— F a v o r a b le D e c is io n o n R ig h t to
I s s u e “ F ir s t a n d R e f u n d i n g ” B o n d s . — T h e A p p e lla te D iv is io n
o f th e S u p r em e C o u rt, T h ird D e p a r tm e n t, o n S e p t. 24
u n a n im o u s ly r ev e rsed th e d e c is io n o f th e P u b lic S e r v ic e
C o m m iss io n , S e c o n d D is tr ic t, b y a d iv id e d v o t e , ren d ered
D e c . 17 la s t , w h ic h refu sed p e r m is sio n to th e c o m p a n y to
issu e “ first a n d r e fu n d in g ” b o n d s to r efu n d n o te s a m o u n tin g
to $ 4 ,0 0 5 ,2 9 5 m a d e in c o n n e c tio n w ith th e p u rc h a se of
co n tro l o f th e H u d so n V a lle y (E le c tr ic ) R y . a n d $ 2 ,5 0 0 ,0 0 0
e x p e n d e d in th e p u rc h a se o f coal p r o p e r tie s in P e n n s y lv a n ia .
T h e m a tte r is r e m itte d to th e C o m m issio n for fu r th e r c o n ­
sid e r a tio n . T h e la t t e r , c la im in g a n issu e of la w is in v o lv e d
r e la tiv e to th e C o m m iss io n ’s p o w e r s, h a s a n n o u n c e d its p u r­
p o se t o a p p ea l to th e C ou rt o f A p p e a ls . C om p are V .8 7 ,p . 1 0 0 4 .
Press reports s ta te th a t th ere w as som e d iv isio n am on g th e Ju stices In th e
reasons for th e d ecision . T h e m ain o p in ion w as w ritten b y Ju stice K ellogg
and concurred In b y Ju stice S cw a ll.— V . 88, p . 1499.

F itc h b u r g R a ilr o a d .— N e w S t o c k . — T h e s to c k h o ld e r s o n
S e p t . 2 9 v o te d to in c r e a se th e c a p ita l s to c k b y issu in g $ 4 0 0 ,­
000 o f n e w p r eferred s t o c k , w h ic h , w h e n is s u e d , w ill m a k e
th e to ta l o f o u t s t a n d in g s to c k $ 1 9 ,0 1 0 ,0 0 0 . C om p are
V. 8 9 , p . 7 7 8 .
G u lf L in o R y . , G e o r g ia .— N e w P r e s i d e n t. — W . J . E d ­
w a rd s o f S y lv e s t e r , G a ., h a s b e e n m a d e P r e s id e n t, s u c c e e d in g
G . F . A lfo r d , w h o w a s r e c e n tly r ep o rte d to h a v e so ld h is
in te r e s t in th e c o m p a n y to a N e w Y o rk a n d A tla n ta s y n d i­
c a t e . T h e a u th o r iz e d b o n d issu e o f $ 3 2 5 ,0 0 0 is s till in th e
tr e a su r y o f t h e c o m p a n y a n d u n is s u e d .— V . 8 6 , p . 4 2 0 .
G u y a q u il & Q u ito R y .—I n te r e s t D e la y e d . — A n E n g lish
p a p er o n S e p t. 2 5 sa id :
T here Is still no sign o f th e b elated rem ittan ce for Guayaquil & Q u ito
deb en ture In terest. A gen tlem an d o in g b usiness w ith E cuador has re­
ceiv ed from his a g e n t In Q u ito a cab le to th e effect th a t th e G overn m en t
has Intercepted th e cu stom s m on ey for th eir ow n purpose, Instead of a llo w ­
in g th e bank to rem it to L on d on , accord in g to ag re em en t.— V . 88 , p . 1499.

G rea t N o r th e r n R y . — M a t u r i n g B o n d s . — T h e se c o n d m o r t­
g a g e b o n d s o f th e S t . P a u l M in n ea p o lis & M a n ito b a R y . C o.
m a tu r in g O ct. 1 are b e in g r ed ee m ed o n p r e s e n ta tio n a t th e
o ffic e o f th e G rea t N o r th e r n R y . C o ., N o . 32 N a s sa u S t .,
o r, a t th e o p tio n o f h o ld e r s, m a y b e e x c h a n g e d for th e c o n ­
so lid a te d 4 s o f th e S t . P a u l M in n. & M a n ito b a R y . C o. o n
b a s is to b e lea r n e d a t sa id o ffic e .
R u n n in g T im e to S e a ttle R e d u c e d 11 H o u r s . — O n S e p t. 27
th e c o m p a n y p u t in s e r v ic e a n e w m a il a n d e x p r e s s tra in
r ed u c in g th e m in im u m tim e in t r a n s it b e t w e e n S t. P a u l a n d
S e a ttle fro m 5 9 to 4 8 h o u r s .— V . 8 9 , p . 162.
I llin o is T u n n e l C o ., C h ic a g o .— P r e s id e n t R e s i g n s . — P r e s i­
d e n t S a m u el M cR o b er ts h a s te n d e r e d h is r e s ig n a t io n ,a n d ,
it is sa id , w ill m o v e to N e w Y o r k . V ic e -P r e s id e n t, C. O .
F risb ee w ill p r o b a b ly s u c c e e d Mr. M cR o b er ts a s P r e sid e n t
— V . 89, p. 103.

Manitou & Pike's Peak Ry.— R e f u n d in g . —The $500,000
first mortgage 5s due Oct. 1 1909, we are informed, will be
paid at maturity, and there will be issued in order to refund
the indebtedness an equal amount of new 20-year 1st 5s,
interest payable A. & O. The company’s office is at Mani­
tou, Col.— V. 71, p. 646.
Mexico North Western R y.— N e w S e c u r i t i e s R e a d y .—
Interim bond certificates of the 5% 50-year first mortgage
bonds may now be exchanged for the definitive bonds at
the Bank of Scotland, 19 Bishopsgate St. Within, London
E. C. Share certificates in the name of the Mexico Trans­
portation Co., Ltd., should be presented at the London
office of the company, 31 Bishopsgate St. Within, London
E. C., in order to have the change in the name of the com­
pany endorsed thereon. Compare V 88 n 749- V 89
p. 348, 470, 529.
1'
’
’
New York New Haven & Hartford RR.— A n n u a l R e p o r t C o n tr o l o f B o s to n
M a i n e . —See a preceding page.
O f f ic ia l S ta te m e n t— M e tr o p o lita n S S . C o .— N e w S to c k , & c

— President Charles S. Mellen on Sept. 25 issued the follow­
ing statement:
T h e N ew Y ork N ew H aven & H artford R H . Co. has no in ter est in th e
reorganized M etropolitan S team sh ip C o., has n o t In vested in th e sa m e a n d
d oes n ot Intend to . W h atever Interest Mr. M ellen m ay h a v e w ill be a ’ncrsonal o n e, and In volves In no w a y th e N ew H a v e n com p an y.




T h e rum ors regard in g Mr. T u ttle ’s retirem en t from th e B o sto n & M aine
R R . ca n o n ly b e affirm ed or d en ied b y Mr. T u ttle h im self. Mr. M ellen
w ill n o t b eco m e a d irector o f th e B o sto n & M aine a t Its a n n u a l m eetin g ,
an5 u Mr’ T u ttle w ill be re-elected u nless he shall d eclin e to serv e.
1 he p rop osed issu e o f N ew H a v e n sto ck Is for th e purpose of refu n d in g
th e m a tu rin g In d eb ted n ess: p a y in g for im p ro v em en ts under w a y as show n
In th e a n n u a l report; earing for th e n ecessities of th e N ew Y ork W estch ester
, ” ,o st2 n I\ y ”TTn o'v u n der co n stru ctio n , and co m p letin g th e electrifica tio n
of th e lin e to H arlem R iv er and N ew H aven d uring th e n e x t tw o y ea rs,
a n a to p ro v id e for fu rth er Im provem en ts as th e y m a y from tim e to tim e
be a u th o rized by th e d irectors.
I t Is th e hope a n d ex p e c ta tio n th a t th e p resen t ra te o f d iv id en d w ill
be m a in ta in ed u pon th e Increased ca p ita l.

Compare aforesaid report and V. 89, p. 779.
Oregon Electric Ry.— B o n d s A l l S o l d . — The entire present
issue of $2,000,000 first mortgage 5s dated May 1 1908,
which was offered this week at 96)^ and interest by N. W.
Harris & Co. and Moffat Sc White, New York, Harris Trust
& Savings Bank, Chicago, and Perry, Coffin Sc Burr, Boston,
met with ready sale and has all been sold. Compare V.
83, p. 819; V. 86, p. 1226.
Pacific & Eastern R y.— N e w B o n d I s s u e . —The first mort­
gage bond issue of June 1 1907 has been taken up and a new
bond issue made as of June 1 1909 for $1,000,000, of which
$300,000 is now outstanding. Knickerbocker Trust Co.,
trustee. About 17 miles of road have been built and the
completion of same to Butte Falls is being made as rapidly
as possible. The officers are:
P resid en t- a n d G. P . H u m p h rey , .Secretary an d T
' reasurer, 49 W all S t ., N ew York: J F . R e d d y , V ice-P resid en t; 3 . K. E
Ein y a rt,
A sst. T reasurer, a n d H . W ith ln g to n , A ss t. S ecr eta ry , M edford,
' Ore.
C om pare V . 8 8 , p . 1621.

Pennsylvania Company.—Gold L o a n 3 } ^ s C a lle d , N o t P r e ­
following are the numbers of the gold loan 3>£s
of 1901 which were drawn for redemption in the years
1906, 1907 and 1908 and upon which interest ceased on
their respective dates:
s e n te d . —The

D raw n N o v . 1 1006, N o . 5920. D raw n N o v . 1 19 0 7 , N o s. 5922 an d 16744
D raw n N o v . 1 1908, N o s. 25 0 5 , 2511, 2513, 5919, 6291, 6 4 1 7 . 8349 1 1 6 1 7 '
11021, 1 2 0 7 7 ,1 2 0 9 4 ,1 2 0 9 5 ,1 4 3 2 2 ,1 4 3 2 4 and 18809.
'

C a lle d B o n d s . — Gold 3}^% certificates of 1901 to the amount
of $1,334,000 have been called for redemption and will be
paid at par on Nov. 1 at the Girard Trust Co., Philadel­
p h ia — V. 88, p. 1310.
Pere Marquette RR.— R e p o r t . —For year ending June 30:
F is c a l
Y ear—

G ross
E a r n in g s .

1908-09 ____5 1 4 ,6 2 9 ,8 2 7
1907-08 ____ 1 3 ,7 5 3 ,9 8 2
— V. 8 7 , p . 1355.

N e t (a f t e r
T a x es).

5 3 ,4 7 1 ,3 5 4
2 ,6 5 4 ,7 5 5

O th e r
In com e.

5 2 3 8 ,2 0 9
0 02,373

I n te r e s t a n d
R e n ta ls .

$ 3 ,6 6 8 ,9 1 2
3 ,5 5 0 ,7 9 5

B a la n c e ,
S u r . o r D e f.

su r.5 4 0 ,6 5 1
d e f.39 3 ,6 6 7

Philadelphia Rapid Transit Co .— D e c is io n F a v o r a b le to
Common Pleas Court No. 1 (con­
sisting of President Judge Bregy and Judges Kinsey and
Magill) on Monday, in the suit brought by Elmer E. Brode
as a tax-payer to test the validity of the contract of 1907
between the company and the city, sustained the demurrer
interposed by the company.
C o n tr a c t w ith C i t y . —The

T h e C ourt holds th a t th e co n tra ct h a v in g b een ap proved b y th e M ayor
and C oun cils, no citizen , in th e a b sen ce of fraud, can q u estion th e leg isla tiv e
will; also th a t th e co n tra ct d oes n o t, as p roh ib ited b y A rticle 9, S ectio n 7
or th e C o n stitu tio n (1) cr ea te a p artn ersh ip , th e c ity to a ssu m e financial
resp o n sib ility ; nor (2) m ak e th e c ity a sto ck h o ld er in th e com p an v; nor
(3) m a k e th e c ity len d Its cred it to th e corporation .
T h e In te n tio n of th e provision la st m en tio n ed . It Is h eld , w a s, as in ter­
p reted b y th e co u rts, to Prohibit th e squ an d ering o f p u b lic m o n ey b y in v e s t­
m en ts u n d er u nw ise in flu en ces in irresp onsib le corporation s. I t is sta ted
th a t th e n ea rest th a t can be a lleg ed to be an approach tow ard th e p o ssib ility
o f an In v e stm e n t o f c ity fu n d s in th e c o m p a n y ’s p rop erty Is in th e 11 th
sectio n o f th e co n tra ct, w herein th e c ity has reserved to itself th e rig h t to
p urch ase th e p rop erty, lea seh o ld s and franchises of th e co m p a n y on
J u ly 1 1957 for th e sum o f 5 3 0 ,0 0 0 ,0 0 0 . " of ca p ita l n ow a u th o rized , plus
a n y a d d itio n a l ca p ita l sto ck issued w ith th e co n sen t o f th e c it y ” th ereu n d er,
a n d in th e p ro v isio n th a t “ th e fu nd In th e sin k in g fu n d , If n ot th ereto fo re
paid to th e c ity , shall be a v a ila b le to th e c ity for th e purpose of m aking
or a ssistin g In m ak in g th e said p a y m en t for th e p rop erty or th e said c o m ­
p a n y .” 'This, It Is h eld , is sim p ly a provision w h ereb y th e c ity reserves
to Itself a rig h t w h ich , ev e n If illeg a l, ft w ould n o t be n ecessa ry to restrain
u ntil th ere Is so m e in d ica tio n th a t th e sa m e Is a b o u t to be ex ercised . W hat
w ill be th e co n d itio n s in 1957, th e C ourt s t a t e s , ca n n o t be p red icted ; n eith er
n eed im a g in a tio n a n ticip a te .
T h e C ourt in th e cou rse o f th e o p in ion says; “ T h e tra n sa ctio n (th e
esta b lish m en t o f th e sin k in g fund) Is, as a w h o le, as m a y be gath ered from
th e p urport o f th e en tire co n tra ct, a plan b y w hich th e co m p a n y is m ade
to p a y th e p urch ase p rice of Its ow n p rop erty If th e c ity shou ld u ltim a te ly
d eterm in e to ta k e It o v er , a n d in th e m ea n tim e th e purchase m o n ey Is to
be held a p a rt u n til it shall be u tilized for th a t purpose or paid in to th e c ity
trea su ry ” [as b y proper leg a l a ctio n It Is sta te d it m ay be “ d uring th e p en ­
d e n c y o f th e u n co m p leted p u rp o se” o f th e sin k in g fu n d .— E d .]— V . 89,
p. 7 1 9 , 7 2 1 , 666.

Pittsburgh Shawmut & Northern RR.— E x te n s io n o f S y s ­
identified with this company are building
a line which will be an extension of the road on the south
a distance of about 100 miles from Hyde to Freeport, Pa.
The road is being constructed by the Pittsburgh Sc Shawmut
RR., the name of the company having recently been changed
from Brookvillc & Mahoning R R ., and the authorized capital
stock increased from 810,000,000 to $15,000,000. It is pro­
posed when the line is completed, which will take about 18
months, to merge the company with the Pittsburgh Shawmut
Sc Northern.
The following is stated to be substantially
correct:
'
te m . — Interests

T h e S h a w m u t coal in terests for sev era l years h a v e b een q u ie tly a cq u irin g
coal la n d s In Jefferson a n d A rm strong co u n ties In th e S ta te of P en n sy lv a n ia ,
so th a t th e a g g reg a te acreage a t p resen t a c tu a lly ow ned Is a b o u t 7 2 .0 0 0
a cres. T h e lands recen tly acquired a g g reg a te 44,701 acres, a n d , in a d d itio n
to th e o p era tio n s in th e S h a w m u t, B y rn ed a le, B eaver and K n o x d a le fields
m in es w ill be op en ed In th e O ak aln d , 'Tidal, L im eston e R u n , Furnace R u n ,
A p p lew o ld , B runer and N ich olson R u n field s, g iv in g a to ta l in creased o u t­
p u t, o v er th e 1 ,5 0 0 ,0 0 0 ca p a city of th e ex istin g m in es, o f 1 ,8 0 0 ,0 0 0 o ra
to ta l a n n u a l o u tp u t of 3 ,3 0 0 ,0 0 0 to n s. T he B rook villc & M ah on in g R R
has a lr ea d y been b u ilt from B rockp ort to th e B ea v er a n d K n o x d a le fields
a t Conifer and R a m sa y to w n , a d ista n c e of a b o u t 40 m iles.
T he to ta l cost of b u ild in g th e p ortion o f th e road, 36 m iles, recen tly
placed u nd er co n tra ct. It is e stim a te d , w ill be a b o u t $ 7 5 ,0 0 0 per m ile in ­
clu d in g a bridge o v er th e A lleg h en y R iv er, s ix tu n n els a n d four v ia d u cts,
w hich are from 600 to 1,5 0 0 feet in len g th . T h e officers o f th e P ittsb u rg h
& S h a w m u t Include E d w in E . T a te , P resid en t, B radford: George C. D w ight
V ice-P resid en t an d G eneral M anager, K Ittan In g.— V . 8 8 , p , 1197.

Pittsburgh & Shawmut RR .— N e w N a m e — C o n s tr u c tio n .—
See Pittsburgh Shawmut Sc Northern RR. above.

Public Service Corporation of New Jersey.— N e w S to c k a n d
stockholders on Sept. 27 voted to amend the
articles of incorporation as stated in V. 89, p. 721, and to
authorize an issue of $50,000,000 general mortgage 5%
sinking fund gold bonds dated Oct. 1 1909.— V. 89, p. 721.
Railroad & Power Co.—See Sierra & San Francisco Power
Co. under “Industrials” below.—V. 89, p. 529.
Second Ave. RR., New York.— S a le o f R e c e iv e r ’s C e r t i f i ­
c a te s . —Justice Blanchard in the Supreme Court, this city,
has authorized Receiver George W. Linch to accept the offer
of the Guaranty Trust Co. of New York for the purchase of
the $500,000 one-year 6% receiver’s certificates for the pur­
poses mentioned last week. Compare V. 89, p. 779.
Texas Central RR.— R e p o r t . — For the year ending June 30:

B o n d s . —The

F is c a l
Y ear—

G ross

N e t a fte r

O llie r

F ix e d

P f . D iv . E q u ip . &

B a t.,

E a r n in g s .
T a x e s . I n c o m e . C h a r g e s . (5 % ).
I m p ’t s .
D e f.
1908-09 --$ 1 ,1 6 4 ,4 8 1 $ 2 36,214 _____ $69,222 $ 6 6 ,225 $ 1 24,272 $ 2 3 ,5 0 5
190 6 - 07 -_ 1 ,0 0 9 ,1 6 7 1 70,147 $ 5 ,327 68,282 6 6 ,2 2 5 2 0 5,849 164,883
— V . 8 7 , p . 933.

Third Avenue RR., New York.— F o r e c lo s u r e S a l e F u r th e r
Lacombe in the United States Circuit
Court on Tuesday, on the application of the Central Trust
Co., made an order further postponing the sale of the road
from Oct. 27 to Nov. 30.
A d jo u r n e d .- —Judge

T h e a d jo u rn m en t Is gran ted on th e ground th a t u n til a p lan of reorgani­
za tio n su b m itte d b y th e b on d h old ers’ c o m m itte e Is fa v o ra b ly p assed u pon
b y th e P u b lic S ervice C om m ission, th e b on d h old ers’ c o m m itte e will n o t be
in a p o sitio n to m ak e d efin ite p lan s as to th e co n d itio n s o f th e sale: also
th a t n one o f th e cred ito rs’ su its a g a in st certain com p an ies con trolled b y
th e T hird A v en u e com p an y has as y e t b een lln a lly d isp osed of and th a t
th e S pecial M asters in ea ch o f said su its are s till h old in g h ea rin g s.— V . 8 9 ,
p . 7 7 9 , 722.

Toledo Peoria & Western Ry.— R e p o r t .—For year ending
June 30:
F is c a l
Y ear—

G ross
E a r n in g s ,

N et
a fte r T a x e s .

1908-09 ____$ 1 ,0 9 4 ,1 5 8 $154,203
190 7 - 08 ____ 1 ,2 2 1 ,4 8 0
162,463
— V . 8 7 , p . 1084.

O th e r
In com e.

F ix e d
C h arges.

$ 2 6,895
38,1 2 3

$232,103
236,817

I m p r o v e - B a la n c e ,
m e n ts.
D e fic it.

$ 1 8 ,0 8 5
44,901

Som e
o f th e
w h ich
Co. S uch o b serv a tio n s are p a rtia lly correct, b u t It w ill n o t tak e th e form
of a n y a c tu a l co n so lid a tio n of th e teleg ra p h a n d telep h o n e co m p a n ies.
T he M ackay C om panies to -d a y o w ns and con trols 1 3 5,000 shares o f
A m erican T elep h o n e & T elegrap h s to c k , and th e W estern U nion C o., as a
re su lt o f th e sa le of its N ew Y ork T elep h o n e sto ck to th e telep h o n e co m ­
p a n y , w ill a lso be a large o w n er of T elep h o n e s to c k . T h ere e x ists th ere­
fo re, p ra ctica lly a v a s t co m m u n ity o f Interests, a n d th e o u tco m e w ill be a
w ork in g arra n g em en t w h ich w ill s a v e m illion s of dollars to a ll th e co m ­
p a n ies In v o lv ed .
.
_
,
.
T h e W estern U n io n T elegrap h Co. h as 2 3 ,0 0 0 branch o ffices th ro u g h o u t
th e U n ite d S ta te s . T h e m a in ten a n ce of th ese branch o ffices Is a grea t ta x
u pon th e Incom e of th e co m p a n y , b eca u se a g re a t m a n y of th em are run
a t a lo ss. George J . G ould, th e h ead o f th e vVestern IJnlon, Is p rim arily
a railroad m an a n d h is h ea rt is in h is railroads a n d n o t In th e teleg ra p h
co m p a n y .
T h e P o sta l T elegrap h p eo p le h a v e confined th eir o p era tio n s to th e larger
to w n s a n d cities o f th e U n ited S ta te s , and th ereb y h a v e k ep t d ow n th ei
o p era tin g ch arges. W h en th e n ew p o lic y of con centration goes Into effect
th ere w ill n o t be th ree offices In m a n y of th e cities and to w n s, b u t o n e
o ffic e fo r b o th te lep h o n e and teleg ra p h co m p a n ies, and su ch co n cen tra tio n
a lo n e w ill effect en orm ou s s a v in g s.
T h ere w ill also b e a co m m u n ity o f in ter est in th e u se o f w ires, p a rticu ­
la rly th e u se o f w ires u nd ergrou nd , b eca u se th ere Is no le g itim a te reason
w h y th ere shou ld be th ree w ires, tw o teleg ra p h and o n e telep h o n e, a t a
p o in t w here o n e w ould d o . G reat cred it Is d ue P resid en t V ail o f th e
A m eric a n -T e lep h o n e & T eleg ra p h Co. fo r his d ip lo m a cy In brin gin g th e
m anagers o f rival teleg ra p h co m p a n ies to h is w a y of th in k in g . T h e o u t­
com e w ill be to stren g th en all th ree o f th e co m p a n ies. I t Is th e b ig g est
stro k e of b usiness th a t h as ev e r b een d o n e In th e telep h o n e a n d teleg ra p h
field w ith in recen t y ea rs.

N ew

Y o r k T e le p h o n e C o . S to c k . —The

following is under­

stood to be correct:
T h e e x a c t a m o u n t of N ew Y ork T elep h o n e sto ck w h ich th e A m erican
T elep h o n e & T elegrap h Co. h as purch ased from W estern U nion Is $ 1 6 ,­
2 2 1 ,8 0 0 . A m erican T elep h o n e has for y ea rs ow n ed $ 3 2 ,2 1 5 ,7 0 0 N ew Y ork
T elep h o n e stock; $ 1 ,5 6 2 ,5 0 0 rep resen ts th e a m o u n t ow n ed b y th e p u b lic.
A ll this $ 1 ,5 6 2 ,5 0 0 m in o rity sto c k has b een acq u ired b y A m erican l e l e p h o n e, w hich n ow has p o ssessio n of th e en tire $ 5 0 ,0 0 0 ,0 0 0 sto ck .
T he sto ck of th e N . Y . T elep h o n e Co. Is now fu ll p aid an d has been for
th e la st five m o n th s. P a y m e n t fo r th e m in o rity s to c k , or a t le a st th a t
p o rtio n acq u ired from th e W estern U n io n T elegrap h C o ., w as n ot m ad e
In part w ith sh o rt-term n o tes, b u t b y m ean s of sto ck of th e A m erican T ele­
p hon e & T elegrap h Co. U n til th a t tim e o n ly $ 3 0 ,0 0 0 ,0 0 0 w as fu ll paid
sto ck , th e o th er $ 2 0 ,0 0 0 ,0 0 0 b ein g p a rtia lly p a id . C om pare V . 8 9 , p . 722.

$ 6 9 ,0 9 0
8 1 ,1 3 3

S a le o f B o n d s . —See New York Telephone Co., below.
— V. 89, p. 722.
United Railroads of San Francisco.—-N e w A l l y — C o n tr a c t.
Bell Telephone Co. of Buffalo.— S a l e . —The stockholders
— See Sierra & San Francisco Power Co. under “Industrials” yesterday unanimously approved the proposition to sell the
below.— V. 89, p. 529.
property to the New York Telephone Co.— V. 89, p. 722, 227.
United Railways Investment Co.—See Sierra & San Fran­
Bell Telephone Co. of Missouri.—-N e w P r e s i d e n t. — C. S.
cisco Power Co. under “Industrials” below.—V. 89, p. 529, Gleed
of Topeka, President of the Missouri & Kansas Tele­
349.
phone Co., has been elected President of the Bell Telephone
Western Maryland RR.— C o u p o n P a y m e n t . — Receiver Co. of Missouri, to succeed Cyrus P. Walbridge of St. Louis.
Bush will pay upon presentation at the Mercantile Trust Co., — V. 87, p. 91.
New York, the coupons due Oct. 1 on the $42,518,000 first
Bush Terminal Co.— G u a r a n te e d B o n d s . —A special meeting
mortgage bonds.—V. 89, p. 780, 666.
of the stockholders of the Bush Terminal Co., which owns
the entire capital stock of the Bush Land Co., will be held
INDUSTRIAL, GAS AND MISCELLANEOUS.
on Nov. 29 1909 to vote upon a proposition that the Bush
American Light & Power Co.— H o ld in g C o m p a n y I n c o r ­ Terminal Co. shall guarantee $12,000,000 bonds of the Bush
p o r a te d . —This company was incorporated under the laws Land Co. of $1,000 each, secured by a mortgage for that
of Maine on Sept. 22 with $15,000,000 of authorized capital amount to be made to the Columbia Trust Co. of New York,
stock in $100 shares ($10,000,000 to be common stock and as trustee, on property now owned by the land company in
$5,000,000 6% cumulative preferred), as a holding company the Borough of Brooklyn, bounded by 28th S t., 37th St.,
for public service corporations in Pittsburg, Kan., Wichita, Second and Third aves., and such property as may here­
after be acquired by it and brought under the lien of said
Kan., Ansonia, Ore., &c. See plan in Y. 89, p. 667.
mortgage. Before making the bond issue, the land company
American Pneumatic Service Co., Boston.— E a r n i n g s .— will change its name to the “ Bush Terminal Building Cos.”
The combined earnings statement of the company and its The bonds will be 50-year sinking fund 5s, probably dated
subsidiaries for the four months ended July 31 1909 has been Dec. 1. A block of the bonds will be sold in order to provide
published, showing a surplus after all charges of $44,716, for refunding the $600,000 5% consols of the land company
against $8,390 in 1908, an increase of $36,326.
due next April, the only lien underlying the new issue.
N e t E a r n in g s o f S u b s id ia r y C o m p a n ie s fo r F o u r M o n th s e n d in g J u ly 31.
The remainder of the authorized amount will be used for
1909.
1908.
In c.
% In c.
$34,816
$38,938
111
M all tu b e c o m p a n ies----------$ 7 3 ,7 8 4
improvements and additions to the property of the land
S to re serv ice co m p a n ies— 3 4 ,2 2 2
22,864
,
49
company during a long term of years.— V. 89, p. 289.
T h e earn in gs o f th e tu b e co m p a n ies, It is s ta te d , w ill be fu rth er Increased
a t th e ra te of $29,000 per an n u m w ith in th e n e x t m on th b y th e com p letion
of th e n ew C hicago tu n n el c o n n ectin g th e m ain tu b e s y ste m In th a t city
w ith th e C hicago & N o rth W estern R y . C om pare V . 8 9 , p . 4 0 8 , 472.

Canadian Light & Power Co. of Montreal.— N e w E n te r ­
new company has arranged with J. G. White
American Sugar Refining Co.:—R e p o r t o f B o s to n C o m m itte e . & Co., New York, for the engineering, design and super­
— In view of allegations which appeared in a recent maga­ vision involved in the construction of a hydro-electric
zine article, large Boston stockholders requested Edwin F. plant on the St. Lawrence River near St. Timotheo, Quebec,
Atkins and Samuel Carr of that city to go to New York and Canada. The present initial development provides for
investigate the company's affairs. The committee reported: 21,600 shaft h. p., with such further developments as may
An authoritative statement
W h ile w e did n o t p reten d a n y a u d it o f a cc o u n t, w e w en t ca r efu lly o v er be required in the future.
th e lis t an d n atu re o f th e In v e stm e n ts, as w ell as th eir b ook v a lu e s, a n d
follows:
m ad e an ex a m in a tio n o f earn in gs up to S e p t. 1.
W e And th e In v e stm e n ts co n serv a tiv ely v a lu ed , a n d , a s a w h o le, retu rn ­
in g a good in com e. A sid e from ch an ges d uring th e cu rren t y ea r th e y cor­
respond to th e la st an n u al s ta te m e n t. T h e b ook valu e o f p la n ts (la n d s,
b uild in gs an d m ach in ery) h as b een la rg ely redu ced d urin g p a st y ea r s,
a n d , in o u r o p in io n , now sta n d s a t a con serv a tiv e figure.
O w ing to an exoess of refin in g ca p a city th ro u g h o u t th e U n ited S ta te s ,
a n d to k een co m p etitio n w h ich e x ists , th e m argin of profit In refin in g has
b een m a teria lly redu ced from w h a t It form erly w as, b u t th e co m p a n y s
Incom e from oth er sources fu lly offsets th is , an d stock h old ers n eed h a v e no
u n ea sin ess regard in g th e earning pow er of th e co m p a n y or th e con tin u a n ce
° f Our co m m itte e w as accord ed ev e ry co u rtesy b y P r esid en t T h om as and
th e d irectors of th e co m p a n y , all b o o k s, sto c k lists , s ta te m e n ts o f a sse ts
a n d lia b ilitie s, o p era tio n s, & c., b ein g op en to ou r in sp ectio n .
T h e sto ck list for th e p a y m e n t o f O ctober d iv id en d s sh o w s o v er 18,o00
sha reh old ers, m ak in g th e average h old in gs le ss th a n 50 sh ares. T h e
sto ck Is w id e ly sca tte r e d , a large m a jo rity of th e w h ole c a p ita liza tio n pf
$ 9 0 ,0 0 0 ,0 0 0 b ein g h eld b y Investors In th e N ew E n glan d S ta te s , a n d in
v ie w of su c h circu m sta n ce, w e b e lie v e th a t th e claim of th ese N ew E ngland
holders for a larger rep resen tation on th e board o f d irectors and a g rea ter
v o ic e in th e fu tu re m a n a g em en t of th e co m p a n y to b e w ell fo u n d ed .

In an interview Mr. Atkins said:
“ E x c e p t for a sin g le period of s ix w eek s, m a n y years a g o , fu ll reports
h a v e a lw a y s b een s u b m itte d to all of th e d irectors. W ith on e ex c ep tio n
no d irector n o t an e x e c u tiv e o fficer of th e com p an y has ev e r receiv ed a n y
co m p en sa tio n . From th is o n e d irector sp ecial serv ices w ere requ ired ,
for w h ich h e received $2,400 a y e a r .— V . 8 9 , p . 4 4 .

American Telephone & Telegraph G o .— A l l i a n c e R e p o r te d
“Boston News Bureau” quotes “one who
is closely indentified with both the telephone and telegraph
companies, and in a position to know what is going on,”
as follows:
A r r a n g e d . —The




p r i s e . —This

T h e Canadian L ig h t & Pow er Co. has acquired from th e G o v ern m en t
th e right to enlarge, m od ify an d use th e old B eau h arn ols C anal for pow er
p urposes. T he canal passes around th e ra p id s in th e S t. Law rence R iv e r
a t Grand Isle and near S t. T im o th ee passes w ith in 2,000 fe e t of th e river
bluff; a t this p oin t the power sta tio n will bo lo ca ted . T h e ava ila b le h ead ln
ab out 50 fe e t and the w ater su p p ly Is co n sta n t th e y ea r round.
T he m ain fea tu res of th e presen t in itia l con stru ction w ill be as follow s:
(1) A canal Intake and h ea d g a tes a t V alleyflck l a b o u t 3,200 fe e t below th e
presen t Intak e. (2) E n largem en t of th e can al from th e Intake to th e
sta tio n s ite — 32,000 f e e t — to th e ca p a city of th e p resent Initial Installation
b y dred gin g from a 10-foot d ep th to an 18 -foot d ep th , &c. (3) A forebas
a t th e power sta tio n site . (4) A power sta tio n for four m ain u n its v iz:
3 7,200 h . p. turbine u n its.
13 4,0 0 0 k. w. gen erators.
2
4 10 h. p. ex c iter turbine u n its.
2
250 k. w . gen erators.
Governors &c
I3 4,000 k . w . transform ers.
(5)
T a l race ex c a v a tio n for th e co m p lete ten u n its. (6) T ra n sm issio n
line to M ontreal, 27 m iles. (7) S u b sta tio n a t M ontreal. (8) D istrib u tio n
SyT h e1 w o r t° w m e?nclude: E x ca v a tio n , 1,213,000 cu . y d s.; e m b a n k m e n t.
387 000 cu . y d s.; con crete, 4 5 ,0 0 0 cu . y d s.; crlbw ork, 6 ,0 0 0 cu . y d s.
It is estimated th a t th e p resent Initial d ev elo p m en t will co st a b o u t
$4 00 0 ,0 0 0 . T he Canadian L ig h t & Pow er Co. proposes to do this work
by con tract on th e basis of unit prices. J . G. W h ite & Co. are now preparing
plans and specification s for th e foreb ay ex c a v a tio n and o m b ank m en t and
power house and head w all con crete work to bo su b m itted to p ro sp ectiv e
Didders, and sim ilar plans a n d specification s for oth er d ivision s of tn e
work w ill follow rap id ly
..
TThe co m p a n y w as Incorporated J u n e 2 1904. I t s ca p ita l sto ck is $«.000 0 0 0 , all of on e class and all Issued: par of shares, $1 0 0 . T h e financing
of the en terp rise, w e are Inform ed, has a ll b een arranged, w hich m ea n s, wo
u n d ersta n d , th a t th e $ 4 ,0 0 0 ,0 0 0 5% 3 0 -y ca r first m ortgage gold b o n d s o f
$ 1 ,0 0 0 , w h ich arc au thorized a n d a b o u t to be Issued, h ave a ll b een under­
w ritten . T h e b onds w ill p rob ably be d a ted A u g . 1 1909 a b ‘l„ b o / u b ^
to call: b u t th ese m a tters had n o t been arranged on S e p t. 21 lo o u . in ter est
p a y a b le sem i-a n n u a lly . Press reports say th a t th e b ond s have been
or will be la rgely tak en In E n g la n d .. T h e directors aro: h . II. W ilso n ,

P resid en t; f i. A . R o b e rt, 1st V ice-P resid en t; George G. F o ster, K .C .,
I*. J . S h aw , It. N . S m ith , W illiam C. Fin e y an d J . W . M cConnell. O ffice,
M on treal.— fid .]

to take care of outstanding obligations of the various consolidatcd companies, and to provide for extensions and
Cataract Power & Conduit Co., Buffalo.— B o n d s .—The additions into the far future, the New York Telephone
Public Service Commission, 2d District, has sanctioned the Co. has arranged to make an issue of $75,000,000 first mort.
sale of $154,000 5% bonds, at not less than 95, for extensions i!-T?ar
i° ^ which $25,000,000
have been sold to
and to pay $4,000 debts.—V. 88, p. 027.
Kidder, Peabody & Co. of Boston and New York, and Baring
Buis.
&
Co.,
Ltd.,
of
London,
one-half
being dollar bonds
Central Leather Co.— T e r m s o f S e ttle m e n t w ith S to c k h o ld e r s and one-half sterling bonds; interest payable
M&N. The
o f O ld C o . —James B. Colgate & Co., who represented about following emanates from Boston:
30,000 shares of United States Leather Co. preferred stock
o r k ‘sta tp 8 y 'a ?
lv e fb*?n sev en different B ell com p an ies in N ew
in the litigation to prevent the merger with the Central Y\ ork
fc»tate. A t le a st fou i of th e sev en h a v e b een co m p a ra tiv ely sm all
Leather Co., have issued a circular to their clients informing w ith an a g g reg a te sto ck ca p ita liza tio n of o n ly $ 6 ,1 7 0 ,00 0 ; b ut v d th a rclaflo
a
tin
g
d
eb
t, representin g unfinanced co n stru ctio n w ork .
them of the terms of settlement reached.
7 he fu n d s to p u t in th is new co n stru ctio n were sup p lied b y th e A m erican
The firm requests the holders of the remaining preferred siC«Coon noo&n I<ViCKli)iP K Co. ” J vhIch th erefore ow ns p ra ctica lly th e en tire
g d eb t of th e co n so lid a tin g com p an ies.
shares not formerly represented by them, about 14,758 in all, $ 18 ,0 0 ° , 000 floatin
th o se $ 2 5 ,0 0 0 ,0 0 0 N ew Y ork T elep hon e Co. b o n d s, th erefore,
to communicate with thern not later than Oct. 4 with a n ot o n ly en a b les th e co n so lid a ted N ew Y ork Co. to sta rt w ith a clean s la te ,
ex?icnHcriSn lp r ^ A lnf r*ca a T elep hon e Co. treasu ry for cash w hich has
view to a sale of their holdings on the same terms, nego­ been
been ex p en d ed o v er a p eilo d of five to eig h t y ea rs.
tiations for that purpose having already been begun.
n t n v tas m m n lr.vf *w'iAw
u c 1'.T1.!11 ca p ita liza tio n of th e oom b ln ed com ­

H olders of th e U n ited S ta te s L eath er Co. preferred sto ck w ho becam e
p a rties to th e a g re em en ts w ith C olgate & C o . d a ted D ec. 29 1900 or J u ly 28
1909 m a y , a t th eir o p tio n , r eceive (1) th e sam e pro rata a m o u n t o f secu rities
and cash for th eir sto ck as th e firm , v iz ., for each share o f such preferred
stoc.c $ 130, p ayab le $50 In first m ortgage b ond s of th e Centra! L eath er Co.
a t par, $55 In th e preferred sto ck of th e C entral L eath er Co. a t 110, $25 in
cash and In terest and d ivid en d s on th e secu rities and cash to be ad justed :
?il
** , 9 I)Qnds, $59 in preferred sto ck and 23 lA % in com m on sto c k of
tile C entral L eath er Co. and $10 in cash , th e term s offered to all u n exch anged
preferred sto ck o f th e U n ited S ta tes co m p a n y . S tock hold ers are given
u n til O ct. 15 to a c c e p t th e firm ’s oiler.

p a n y as com pared w ith th e ca p ita liza tio n of th e c o n stitu en t co m p a n ies
w r.l.aI1l? u n ^rt0 b ^ w e e n $ 4 ,0 0 0 ,0 0 0 an d $ 5 ,0 0 0 ,0 0 0
625 t000N
'1 a i begIlVoperations'
ta?l of
a bv o fuatr
» sstathm
ta tio nsk
s, or e x a c tly ^n'7
607,191
as of D ec. 3 1 lawstith ma ato
k in
It h
th e b ig g est o p era tin g telep h o n e concern in th e w o rld .— V.’ 8 9 ? p 7 8 1 , 724.

Pacifie Telephone & Telegraph Co.—Listed.—The New
York Stock Exchange has listed $18,000,000 common and
$18,000,000 6% cumulative preferred stock.— Y. 88, p. 1625.
Pennsylvania Sugar Refining Co.— A r b i t r a t i o n o n O ffe r
o f A m e r ic a n
C o m p a n y .—Certain minority
bondholders
having opposed the application to the Court of Receiver
George II. Earle to be permitted to accept the terms of the
offer of settlement of the outstanding litigation made by the
American Sugar Refining Co. in June last, Judges Wilson
and Audenried of the Common Pleas Court, Philadelphia
on Sept. 23 agreed to act as arbitrators in the matter to
determine whether the compromise offered shall be accented
— Y. 88, p. 1503.
1

Cluott, Peabody & Co., Troy, N. Y .— N e w S t o c k .— The
stockholders voted on Sept. 27 to increase the capital stock
from $7,000,000, consisting of $3,000,000 common stock and
$4,000,000 cumulative preferred, to $18,000,000, increasing
the common to $12,000,000 and the preferred to $6,000,000.
Compare V. 84, p. 1184.
Colonial Steel Co.— N e w D ir e c to r . —Charles A. Painter
of Pittsburgh has been elected a director to succeed Charles
M. Brown, who retired.— V. 89, p. 667.
Pope Manufacturing Co., Hartford, Conn.— F i r s t R e p o r t
Georgia Manufacturing & Public Service Co., Marietta,
Ga.— S a le O c t. 11.— R. W. Boone, trustee in bankruptcy, o f R e o r g a n iz e d C o m p a n y .— For i y . months ending July 31
advertising this property for sale at auction on Oct. 11, free 1909:
N e t in com e from o p era tio n s, a fter p ro v id in g for d ep recia tio n , &c $ 4 0 2 ,8 1 6
and clear of all liens except as specified in legal advertisement M
iscellaneous earnings (in cl. d isco u n ts, Int. and r o y a ltie s )_________ 0 8 ,0 2 9
in “Marietta Journal.” Mr. Boone says:
ESPaper m ill, estim a ted ca p a city 80 ,0 0 0 lb s. prod uct per day: ligh t p la n t,
b oth arc and Incand escent, ligh ts th e c ity , b usiness houses an d residences;
w a ter w orks furnishes th e w a ter su p p ly for paper m ills, fire p rotectio n for
c ity and com m ercial and d o m estic use of its citizen s. E stim ated populatlon of th e c ity , seven to e ig h t th ou san d . [The com p an y w as organized
In J an uary 1906 w ith $ 6 0 0,000 au th orized cap ital s to ck , M ouitrle M . S es­
sion s b eing P resid en t, an d took over th e p rop erty of th e M arietta Paper
M ills, M arietta W ater W orks an d M arietta E lectric C o.— E d .j— V . 8 8 ,p .5 6 7

* Hudson Navigation Co.— F o r m e r P r e s id e n t l ie - e le c te d .—
Charles W. Morse has been re-elected President to succeed
A. I. Culver, who held the position for a year, but resigned
to give place to Mr. Morse.—V. 88, p. 234.
International Nickel Co.— E x tr a D i v i d e n d . —The company
has declared a dividend of 1% and y % extra on the $8,822,­
662 common stock, payable Dec. 1 to holders of record
Nov. 11. On Sept. 1 last an initial distribution of 1% was
made. The regular quarterly dividend of 1 y % on the
$8,912,626 of preferred stock was also declared, payable
Nov. 1.— V. 88, p. 1562.
L o3 Angeles Gas & Electric Corporation.— B o n d s S o ld '.—
N. W. Harris & Co., New York and Boston, the Harris
Trust & Savings Bank, Chicago, and E. II. Ilollins & Sons
of Boston have purchased, and will shortly offer, $1,000,000
first and refunding mortgage 5% 20-year bonds. This com­
pany serves Los Angeles, Pasadena and their suburbs with
gas and electricity.— V. 89, p. 47.
Maverick BTills, Boston.— P r e f e r r e d S to c k O f fe r e d . —Sub­
scriptions are being received at the office of the company,
19 Congress St., Boston, and also at the offices of Hayden,
Stone & Co., Boston and New York, at par for the total
authorized issue of $750,000 6% cumulative preferred stock,
dividends accruing from July 1 1910, with preference also
as to assets, and convertible into common stock, $ for $,
within five years from July 1 1910, and thereafter subject to
redemption at 125 and accumulated dividends. The total
authorized common stock is $1,250,000, of which $500,000
has been subscribed for in cash at par and the remainder is
reserved to provide for conversion of preferred shares. The
present subscription is for the construction and equipment
of the first 50,000-spindle mill.
D irectors— Joh n F lu ll , A u gu sta, M e.; Galen L. S ton e and C alvin Aus" ftn d E u gen e N . F o s s , B oston ; R obert B u rgess, P a w tu ck et, R . I ., and
W illiam J . H o y t, M anchester. N . H .

Monongahola River Consolidated Coal & Coke Co., P itts­
burgh. L o s s b y S t o r m . —The “Coal Trade Journal of New
York” says:
T he torn ad o whloh sw e p t th e Gulf C oast on S ep t. 20 an d 21 an d w as so
d isastrou s to life and p r o p e lty , resu lted In a loss to th is com p an y of prac­
tic a lly all th e coal It had a llo a t a t N ew O rleans, B aton R ou ge, B ayou
k a ra « £'a ” ,an.{i N a tch ez, M iss., In n um ber .'183 coal b oats (each boat carries
1,000 to n s), th e m on ey valu e of w h ich , a fter m ak in g reason ab le allow an ce
for sa lv a g e, w ill p rob ably reach from $600 ,0 0 0 to $ 7 0 0 ,0 0 0 .— V. 8 9 , p
596, 106.
’

New York (Bell) Telephone Co.—Safe o f B o n d s .—This com­
pany, now wholly owned by the American Telephone &
Telegraph Co. (see that company above), has practically
completed its purchase of the properties of the several Bell
operating companies of New York State, and to finance the
consolidation will increase its issued capital stock from
$50,000,000 to $85,672,800. Of the new stock 300,000
shares have been taken by the American Telephone & Tele­
graph Co. at $140 per share.




T o ta l n e t In co m e__________________ _______
_$520 845
I n te rest, & c., on m tg e. n otes ($10,610) and m lscei. ($21,36 8 )1 1 1 1 1 3 7 |9 7 8
B a la n ce, surplus for 7 M m o n th s............................................
$482 867
T he d irectors la st w eek declared on th e preferred sto ck an a ccu m u la ted
d iv id en d of 0% coverin g th e en tire y ea r en d in g A u g . 1 1909 (as per p la n .
V . 8 7 , p . 350 ); a lso a q uarterly d iv id en d of l ' A % o n th e p ref., p a y a b le
N o v . t. Of th e $ 2 ,5 0 0 ,0 0 0 preferred, $ 3 0 1 ,7 9 7 w as on J u ly 3 1 1909 in th e
co m p a n y ’s treasu ry, lea v in g o n ly $ 2 ,1 9 8 ,2 0 3 o u tsta n d in g . — V. 8 9 , p. 781.

Queens Borough Gas & Electric Co., Far Rockaway &c.
New York City.— B o n d s O f fe r e d . — Win. A. Read & Co.’
New York, are offering at 99 and interest, by advertisement
on another page, the unsold portion of their block of 5%
general mortgage bonds, dated 1902 and due July 1 1952
Authorized issue, $2,000,000; outstanding, $1,600,000; re­
mainder ,$400,000, reserved to retire all underlying bonds,
including $150,000 callable Feb. 1 1911 at par and interest.
Abstract of Letter from Carleton Macy. Far Rockaway, New York City
Aug. 23 1909.
O rganized u nd er th e law s o f N ew Y ork S ta te in 1902 and su p p lies (1) all
of th e gas and e lectricity used in th e F ifth W ard, B orough of Q ueens C ity
of N ew Y ork, w hich d istrict Includes B elle H arbor, R o ck a w a y B each
S ea sid e, H o lla n d , H a m m els, A rvern e, E d gem cre and Far R o ck a w a y
T he
p o p u la tio n o f th e F ifth W ard during th e su m m er m o n th s Is said to be o v e r
140,000 and in creasin g m ore rap id ly now th an a t a n y p revious tim e h a v in g
d o u b led , It Is estim a te d , sin ce 1905. (2) Gas and e lectricity In t h e ’to w n o f
H e m p stea d , N assau C oun ty, a d istrict w hich in clu d es th e villa g es of
L aw rence, E ast R o ck a w a y , In w o o d , C cdarhurst, W oodm ere, H e w lett
L ynbrook and O cean side. (3) A lso electricity to villa g e o f V a lley S tr e a m ’
T h ese v illa g es are grow in g v ery rap id ly.
H as p erp etu al fran ch ises In F ifth W ard for b oth gas and electricity ; gas
fran ch ises co v erin g en tire tow n o f H em p stea d e x c e p t Garden C ity and

stea d are a ll u n lim ited in tim e, ex c ep tin g o n e, for 50 years from 1904. C b
C a p ita liz a tio n —
O u ts ta n r iin n
C apital sto ck [all of o n e class: par of sh ares, S 1 0 0 .— E d .]______ $ 2 ,0 0 0 000
’
lovvii of H em p stea d Gas & E lectric 5% b o n d s,red ee m a b le a fter
I*eb. 1 1911 a t par, and due F eb . 1 1931
.
_
_
15 0 000
Q u eens B orough E lectric L ight & P ow er Co. 5% ’ ‘bombs’," d u e
O ct. 1 1928
________ ____________________________
250 000
’
Q u eens B orough Gas & E lectric Co. general m o rtg a g e 5s, d u e
J u ly 1 1952, a u th o rized $ 2 ,0 0 0 ,0 0 0 __ ____
_
j goo 000
T h e general m ortgage 5s co v er th e fran ch ises, r e a f e s t a t e ’and all o th er
p rop erty now o w ned or hereafter acq u ired . T he rem ain in g $ 4 0 0 ,0 0 0 n o t
Issued b ut held under th e term s o f th e m ortgage for th e p urpose o f taklntr
up th e u nd erlyin g b o n d s .
s
C a m b i o s [ o r Y e a r e n d i n g J u l y 1 1909 ( L a s t T w o M o n t h s E s t i m a t e d )
Gro s r e c e ip t s ---------------------$369,251 | In terest on $ 2 ,0 0 0 ,0 0 0 bds S io o ’ ooo
N et (after ta x es. & c.)............ $ 1 92,74b | Su rp lu s........... .......
92 740
T h e p ro p erty includes: (1) Gas p lan t at R o ck a w a y B each h a v in g a d a lly
ca p a city of 2 ,3 0 0 ,0 0 0 cu . f t. of g a s, b ein g a p p r o x im a tely tw ice our p resen t
req u irem en ts. T h e b u sin ess, h ow ever, is grow in g so rap id ly th a t w e h a v e
ordered an a d d itio n a l 10 ft. 6 In. w a ter gas s e t, h a v in g a c a p a c ity of
1 .9 0 0 .0 0 0 cu b ic fe e t of gas ev ery 24 hours. (2) E lectric pow er p la n t a t
Far R o ck a w a y on J am aica B ay fro n t, a large brick b u ild in g w ith electric
gen erators h a v in g a to ta l rated ca p a city of 2 ,7 0 0 k. w . (3) 2 5 0 -fo o t dock
a t R o ck a w a y B each w ith coa l-h a n d lin g a p p a ra tu s. (4) S u b -sta tio n s,
o ffice b uild in g, gas h old ers, &c. (0) 3 2 5 ,0 0 0 fe e t o f gas m ain s, and a p p r o x i­
m a te ly 75 m iles of pole lin e, a great deal o f w hich has b een re-con stru cted
d uring th e la st th ree or four years.
W hen th e co m p a n y w as organized J u ly 1 1902, th e price for gas per
1.000
cu . f t. w as $2; th e com p an y Is n ow ch arging $1 30 per 1 ,0 0 0 cu ft
for lig h t a n d fu el a n d $1 25 for pow er. T he price of e le c tr ic ity , o rig in a lly
20 c ts . per k. w . hour, w ith d isco u n ts, is n ow 15 c ts . p er k. w h our for
reta il lig h tin g and 12 c ts . per k . w . hour for w h o lesa le lig h tin g , w ith d is­
co u n ts d ow n to 5 c ts . per k. w . h our.— V . 8 9 , p. 781.
T h e d irectors are: V . E vcrit M acy, H . H obart P orter, J a m es A M ooney
G corge D . G regory, A . H . B ronson, E u g en e D . H aw k in s a n d C arleton Macy!

Sierra & San Francisco Power Co.— S t a n i s l a u s P r o p e r tie s
T a k e n O v e r— N e w M o r tg a g e s — C o n tr a c t w ith U n ite d R a i l r o a d s
o f S a n F r a n c is c o . —This company, incorporated under the
laws of California on June 5 with $20,000,000 of capital stock,
in shares of $100 each (all owned, it is understood, by the
Railroad & Power Co., which in turn is controlled by the
United Railways Investment Co. (V. 88, p. 1314, 1129),

took title on Sept. 21 to the properties formerly belonging to
the Stanislaus Electric Power Co. and the Tuolumne Water
Power Co., both foreclosed per plan in V. 88, p. 235, 569,
1005, 1066. The new company also took over the city
power plants of the United Railroads of San Francisco, and
in accordance with the aforesaid plan has filed two mort­
gages to the United States Mortgage & Trust Co. of New
York, as trustee, one a first mortgage to secure an issue of
830,000,000 40-year 5% gold bonds, the other a sceond
mortgage securing 86,000,000 bonds, incomes for 5 years. A
contract with the United Railroads of San Francisco was also
filed on Sept. 21. According to the “San Francisco Chroni­
cle” of Sept. 22, this contract provides:
Tho s tr e e t railroad co m p a n y agrees to ta k e from th e pow er com p an y
122 120 000 k llow att-h ou m a y ea r a t th e price of ,007o per k ilow a tt-h o u r,
and w ith a m axim u m d eliv ery of 23,204 k ilo w a tts, 'th is con tract covers
th e en tire p ow er con su m p tion of th e co m p a n y , a s th e pow er corporation
tak es o v er th e N orth B each an d B ry a n t S t. sta tio n s as w ell as th e co n tra ct
b etw een th e U n ited R ailroads and th e C ity E lectric Co. T he rate to be
n aid for th e pow er from th e tw o p resen t c ity p lan ts Is to be .008 , and th e
now er co m p a n y u n d ertak es to d eliv er th e p ow er a t th e different s u b -sta ­
tio n s of th e s tr e e t railroad com p a n y . C om pare U n ited R ailw ays I n v e st­
m en t Co. in V . 88, p . 1 129.— V . 8 9 , p . 520. 319.

6% gold bonds. Authorized, $1,000,000; present issue,
$275,000; dated Feb. 1 1909; maturity Feb. 1 1934. De­
nominations $100, $500 and $1,000 each. Interest payable
A. & O. at the Union Trust Co. of Pittsburgh, trustee.
A ll or a n y of th ese b ond s arc red eem ab le on a n y Interest d a te a fter live
years a t 105 on s ix w eek s’ n o tice . Of the au th o rized Issue, th e tru stee w as
to certify fo rth w ith an a m o u n t of b ond s eq u a l to th e a m o u n t of th e “ sin k ­
in g fund b o n d s’’ retired and can celed , and th erea fter, from tim e to tim e ,
a s sin k in g fu nd bonds are ca n celed , a d d itio n a l b ond s h ereby au th orized
eq u a l to th e a m o u n t o f s in k in g fu nd b ond s so ca n celed , b u t a t no tim e shall
th e tw o issu es of bonds o u tsta n d in g ex c eed th e su m of $ 3 ,0 0 0 ,0 0 0 , anil
a fter $ 5 0 0 ,0 0 0 of th e bonds herein p rovid ed for h ave been Issued and certi­
fied to th e Coal C o., th en no fu rth er b ond s sh a ll be certified or d eliv ered b y
th e tru stee herein ex c ep t In su m s eq u a l to on e-h alf of th e a m o u n t of th e
sin k in g fund b ond s w hich m a y th erea fter from tim e to tim e be retired anil
ca n celed . (The sin k in g fu nd b ond s arc first m ortgage gold 6s, d a ted 190.)
a n d d ue J u ly 1 1930. b u t su b jec t to call a t 110 and Interest on a n y Interest
d a te . T o ta l au th o rized and Issued, $ 3 ,0 0 0 ,0 0 0 , w hich Is b ein g redu ced b y a
sin k in g fund of 5c. per to n of coal m in ed and sh ip p e d . (C om pare V . 8 1 ,
p. 901, 7 8 6 ). At la st a cc o u n ts th ere w as a lso o u tsta n d in g $ 1 ,4 4 8 ,5 7 o com ­
m on sto ck and 5 1 ,6 0 6 ,6 5 0 6% cu m u la tiv e preferred sto ck ; par $ 1 0 0 .—
V. 86, p. 672.

Vicksburg7(Miss.) Water Work3 Co.— S u i t to F o r fe it F r a n ­
Attorney Anderson on Sept. 16 filed a petition
in the Chancery Court requesting that all rights and privileges
granted by the ordinance and contract approved Nov. 19
Stanislaus Electric Power Co.— S tic c e s s o r C o m p a n y —See 1886 be declared forfeited and the company be restrained
Sierra Sc San Francisco Power Co. above.—Y. 89, p. 533.
from operating thereunder.
Union Oil Co. of Calfornia, Los Angeles, Cal.— G u a r a n te e d
I t is a lleg ed th a t th e p lan t has n ot b een k ep t In co n d itio n to su p p ly the
B o n d s . — Reference was recently made to the guaranteed need s o f con sum ers, as requ ired b y th e ord in a n ce, and a receivership Is
asked for to p u t th e p la n t In first-class co n d itio n and oporato th e sa m e as
bond issue of the Producers’ Transportation Co. We now long as m ay be n eecssa ry . T he co n tra ct w ill ex p ire in a b o u t sev en years.
learn that of the $3,500,000 5% bonds authorized, only T h e full t e x t of the bill Is g iv en In th e V icksburg ‘D a ily H erald ” of S ep t. 17.
V . 8 5 , p . 3 50.
$1,500,000 at par were offered to stockholders of the Union
Virginia Iron, Coal & Coke Co - R e p o r t .— For the year
Oil Co. and its allied companies and that the original offer of
$1,500,000 was later increased to $2,250,000 in view of .the ending June 30:
I n te r e s t,
B a la n c e ,
F is c a l
G ross
N et
O th e r
large over-subscription.
Y ea r—
E a r n in g s .
E a r n in g s .
I n c o m e . T a x e s , & c . ,S u r . o r D c f .
The circular, signed by Secretary Giles Kellogg, sent by 1908-09 .................. 5 3 ,0 0 0 ,0 6 0 $198,081 $71,134 $ 5 8 0 ,9 4 5 d ef .$3 11,730
4 5 8 ,7 6 2 sur. 1 1 7 ,9 4 5
the executive committee of the Union Oil Co. of California 1907-08 ................... 3 ,9 2 8 ,6 2 1 4 7 9 ,5 6 7 9 7 ,1 4 0
on July 1 to the stockholders of the Union Oil Co. of Califor­ — V, 8 7 , p. 739.
Waters-Pierce Oil Co.— S a le o f T e x a s P r o p e r t y D e c . 7.—
nia, United Petroleum Co. and Union Provident Co., says:
Judge Wilcox in the Twenty-sixth District Court on Sept. 24
T h e Producers' T ran sp ortation Co. is a C alifornia corporation w ith a
ordered Robert J. Eckhardt, the receiver appointed by the
caD ltal sto c k of 8 7 ,0 0 0 ,0 0 0 , and It has au th orized a to ta l issue of 5 3 ,5 0 0 ,0 0 0
of 1 2 - year 5% gold bonds of th e d en om in ation of 51,0 0 0 each . It Is Incor­ State courts, to advertise for sale at public auction on
p orated for th e purpose of tran sp ortin g oil from th e various oil fields In th e
Dec. 27 at the Court-house of Travis County, T ex., under the
S an Joarpiln V alley to tid ew ater a t P ort H arford , an d lias en tered Into
favorab le con tracts for th e tran sp ortation and storage of a large q u a n tity
judgment of ouster from the State affirmed by the United
of oil coverin g a period of ten years (V . 8 9 , p . 4 8 , 2 9 0 ).
T h e board of directors of th e U nion Oil Co. of C alifornia, th,e ow ner of all States Supreme Court in January last, all the property
o f th e ca p ita l sto ck of th e said P rodu cers’ T ran sp ortation C o., h ereby otrers within the State of Texas. Compare V. 88, p . 235, 1005,1139.
for sale to th e stock h old ers a b o v e n am ed , u n til and Including J u ly 10,
51 500,000 of th e said b ond s, gu aran teed as to th e p aym en t of th e prin cipal
and Interest th ereon b y U nion OH C o. of C alifornia, an d an eq u a l a m o u n t
of th e ca p ita l stock of th e said T ran sportation C o., represented b y certifi­
ca tes of sto ck of th e face or par v a lu e of 5100 ea c h , th e proceeds therefrom
to be used In th e co n stru etio n of p ip e lin e s, p u m p in g sta tio n s a n d storage
ta n k s for th e said T ran sp ortation Co.
T h is offering Is m ade on th e following; term s,
(!) ^ or each 5 1.000
bond and ten shares of th e ca p ita l s to c k , th e p i Ice is $ 1 ,0 0 0 . (2) Sub
scrip tion s are to be paid $ 15 0 for each bond an d te n shares o : sto ck on th e
2 0 th d a y of each cu rren t m o n th , com m en cin g J u ly 20 1909, and a final pay
m en t of $100 on J a n . 20 1910. (3) T h e b ond s w lll be na ly d elh cre w ith
th e J u ly 1910 in terest cou p on s a tta c h e d , an d a rebate foi each bond pur
ch ased coverin g Interest a t th e rate of 5% per a n n u m , upon the partial p a y ­
m en ts m ade prior to J a n . l 1910, w ill be retu rn ed to th e subscribers upon
p a y m en t of th e final 1 ista llm en t. (4) All th e bonds sub scribed will be
held In tru st for th e resp ective subscribers b y th e Los A ngeles 'l rust Co.
for th e term of tw o years from Jan . 1 1910, an d receip ts w ill Issue to the
ow ners th ereo f. (5) T he certificates of sto ck w ill be d elivered to sub scrib ­
ers u p on receip t o f th e final p a y m en t th erefor.
I t is e x p e c te d th a t th e sh ares of sto ck w ill earn an d p a y d iv id en d s.
— V . 89, p. 48.
,

United States Leather Co.— N e w O ffe r to P r e f e r r e d s t o c k ­
h o l d e r s — S e c Central Leather Co. above.
N eio C o m p a n y o f S a m e N a m e . —The United States Leather
Co has been incorporated in New Jersey by officers of the
Central Leather Co., with $100,000 authorized capital stock,
with the object of retaining title to the name of the old com­
pany for trade purposes, the existence of the former United
States Leather Co. having terminated.—V. 89, p . 781, 629.
United Tobacco Companies, Ltd.— S o u th A f r i c a n A l l y of
A m e r ic a n T o b a c c o C o . —In November last the National
Provincial Rank of England, Ltd., and its^ branches as
authorized by The International Financial Society, Ltd.,
acting on behalf of the owners of the shares, offered for
subscription this company’s entire issue of 300,000 cumula­
tive 6% preference shares of .£1 each at £1 2s. Od. per share.
The whole of the ordinary shares (being 500,000 of £1 each
fully paid) are owned by British-American Tobacco Co.,
Ltd., two-thirds of whose stock is owned by the American
Tobacco Co. of New Jersey [V. 85, p. 279,] and
Messrs. Holt of Cape Town. No bonds or debentures, An
advertisement said:

T his com p an y w as Incorporated u n d er th e E nglish C om pan ies A ct
and
ti|itr
1904 to acq u ire froin B n tlsh -A m erlca n to b a cco C o., L td ., .......
oth ers th e businesses of manufacturing: and d ealin g in tob acco carried on
hv th em In various parts o f S o u th A frica, Including Cape C olony, N a ta l,
Or anp’cj111R W e r C o lo n y , T ran svaal, R h od esia, &o. T he com p an y thus
acquired th e right to m anufacture In S outh A frica for use th ere th e brands
?ofVG reat B X l ^ a u d ^ e ^
A frica good 3 m anufactured for It under m ost of th ose brands In th e U nited
K ingdom and th e U n ited S ta te s of A m erica.
T ran s­
In 1905 tho com p an y prom oted a com p an y under th e law s o f.th e ir a n s
v aal called the U nited T ob acco C om panies (N o rth ), L td ., and c o n \e y e u
to It th e bulk of Its in ter ests in th e T ran svaal, an d also prom oted a com pany
under th e laws of the Colony of th e Cape of Good H op e
m f* !
T obacco C om pan ies fS o u th ), L td ., and m ade a sim ilar co n v ey a n ce so fjjl
as concerned the C olony of th e Cape of Good H o p e.
I his com p an y o n n s
all th e shares In both the ab ove co m p a n ies. I he U n ited lo b a cc o Com­
panies (S ou th ), L td ., has erected a m odern factory a t Cape lo w n , w here It
m anufactures its good s, and th e U n ited Tobacco C om pan ies (N o rth ), L td .,
m anufactures Its good s a t Joh ann esb u rg, in a fa cto ry leased from this
eom n an v. and also ow ns a fa cto ry a t Itu sten b u rg.
, , , ,,
T he com p an y's profits, a fter p roviding for d ep reciation and Including
th e d ivid en d s on Its holdings In U nited T obacco C om panies (N o th ). Ltd
and U n ited T obacco C om panies (S ou th ), L td ., were: Y ear en d ed vSept 30
1906, £68,718: y ear 1906-07, £101,881; n in e m on ths en d ed Ju ne 30 1903
£87 201
T he a sse ts ex c lu siv e o f good w ill, a fter d ed u c tin g lia b ilities and
w ritin g off dep reciation of th e U nited T obacco C om panies, L td ., the
U n ited T ob acco C om panies (N o rth ), L td ., and th e U n ited Tobacco Corna l l i e s (S o u th ), L td ., am ou n ted Juno 30 1908 to £343,676.

c h is e .—City

T he sa le Is to be a d v ertise d in 15 cities in tho U n ited S ta te s , Including 7 In
T ex a s. N ew York C ity , P h ila d elp h ia , P ittsb u rg h , C hicago, S t. L ouis,
San F rancisco, N ew O rleans and A tla n ta .
I he receiv er Is Instructed
Im m ed ia tely upon th e con firm ation of th e sa le to turn o v er to th e w a te r sP lerce Co. or Its a ssigns th e en tire p roceed s of th e sa le, and th e m on ey in
his hands accru in g from th e o p era tio n of tho p ro p erty , reserv in g therefrom
o n ly su ch sum as m a y be n ecessa ry to p a y oIT a n y d eb ts Incurred u nd er th e
receivership and th e co sts th creo t.— V . 8 9 , p . 808.

Wellsburg & Buffalo Valley Co.— S a le o f C o lla te r a l. —There
was advertised for sale at auction some time ago $593,000
of the company’s $1,000,000 5% 20-year collateral trust gold
mortgage bonds, due May 21 1924, with coupons of Jan. 1905
and since attached. The Knickerbocker Trust Co., as
trustee, subsequently advertised for sale at auction the fol­
lowing collateral deposited to secure the bond issue, but
owing to an injunction the sale has been indefinitely post­
poned .
W ellsburg Coal Co. ca p ita l sto ck In $100 sh a r es-----$ 3 0 0,000
First m ortgage b ond s d a ted 1903 (w ith cou p ons of J u ly 1 1003
and sin ce a tta c h e d ), S I ,000 ea ch , part of Issue of $ 2 5 0 ,0 0 0 or
m ore
_________________________________________ _ _ — - 2 2 u,uuu
W ellsb u rg "& State"L tne"R R . ca p ita l sto ck In $100 sh a res.................. 3 0 0 ,0 0 0
First m ortgage b ond s d a ted 1903, $ 1 ,0 0 0 ea ch , w ith cou p on s of
J u ly 1903 a tta c h e d .......... ......... .............. ......... ........... ......... ................ .. 3 0 0 ,0 0 0
W ashington & S ta te Line R R . ca p ita l sto ck In shares of $100 e a c h . loO.OOO
See also V . 8 2 . p. 457.

Western Union Telegraph Co.— A ll i a n c e — E x c h a n g e o f
Y . T e le p h o n e C o . S t o c k . —See American Telephone &
Telegraph Co. above; also compare New York Telephone Co.
— V. 89, p. 730.
Westinghouse Electric & Mfg. Co.— D iv i d e n d s on P r e ­
f e r r e d S to c k R e s u m e d . —The company has declared a quarterly
dividend of \ %
A % and an additional distribution ol
its $3,998,700 7% cumulative preferred stock, payable Oct.
15 to stockholders of record Oct. 9. This is the first payment
made since Oct. 10 1907, when 2 ' A % was paid, and it re­
duces the amount of accumulated dividends from V 2 y $ %
to 8 % % . — V . 89, p. 415.
Worcester (Mass.) Electric Light Co.— O ffe r f o r S t o c k .—
Two offers of $300 per share have been made for the company s
$800,000 stock, one from the Stone Sc Webster Co. of $300
cash and the other from Lee, Higginson & Co., of $100 cash
and $200 in the stock of a proposed $2,000,000 local holding
company.—V. 86, p. 234.
N.

__Lamarchc Sc Coady, 25 Broad Street, New York, have
prepared a special list of investment offerings which they
will mail upon application. The firm are specialists in gas,
electric light and street railway securities and are large
dealers in"American Light Sc Traction Co. stocks, Pacific
Gas & Electric Co. common, Hudson Sc Manhattan 4 y 2 %
bonds and stocks, American Gas & Electric Co. stocks and
Tri-City Railway Sc Light Co. stocks. Correspondence re­
garding any of these securities is desired.
—The October issue of the Monthly Bulletin of Fisk &
Robinson, as usual, contains interesting and suggestive
reading. The autumn outlook is discussed at length; also
the situation as regards Government bonds, the opinion
being expressed that the Treasury must in tho immediate
Vandalia Coal Co.— B o n d s . —This company early in the future be placed in funds by the issuance of at least $50,­
year made a general mortgage securing an issue of 5-25-vear 000,000 3( f certificates.




L E H IG H V A L L E Y

R A IL R O A D

COM PANY.

FIFTY-FIFTH ANNUAL REPORT— FOR THE FISCAL YEAR ENDED JUNE 30 1909.
P h i l a d e l p h i a , S e p te m b e r 29 1909.
T o th e S to c k h o ld e r s o f th e L e h ig h V a lle y R a i l r o a d C o m p a n y :

The Board of Directors herewith submit the fifty-fifth
annual report of the business of your company for the fiscal
year ended June 30 1909.
MILEAGE.
The mileage of railroads owned and operated by the Lehigh
Valley Railroad Company, the main line of which is double
track, extending from Jersey City, N. J., to Buffalo and
Suspension Bridge, N. Y., is as follows:
M ile s .

O w n ed , or con trolled by ow nership o f en tire cap ital s to c k _______ 1 ,209.19
157.21
C ontrolled by ow nership o f m ajority o f cap ital s to c k _____________
C ontrolled b y l e a s e s -----------------------------------------------------------------------27.88
T o ta l m ileage o p erated (ow ned and c o n tro lled )________________1,391.28
T rackage rights o v er railroads ow n ed b y o th er c o m p a n ie s -.............
47.03
T o ta l m ile a g e ............ ......... ................................... ....................... ..................... 1,141.31

—of which 588.06 miles, or 40.80 per cent, have second
track, 60.16 miles have third track and 24.17 miles have
fourth track. There are also 1,127.78 miles of yard tracks
and sidings on the system.
No important changes have been made in the mileage of
the system during the year. The increase of 17.17 miles
of yard tracks and sidings is occasioned by transferring to
that item 4.26 miles of breaker branches heretofore included
under first track mileage, the enlargement of certain yards,
and the construction or extension of sidings to various
industries.
REVENUES AND EXPENSES.
The following statement shows the gross revenues, expen­
ses and net revenue from the operation of the entire system
for the fiscal year, not including other income, compared
with similar figures for the fiscal year 1908.
The Inter-State Commerce Commission having ordered
further changes in the method of accounting, effective with
the beginning of the fiscal year, certain of the 1908 figures
have been re-stated and will therefore be found not to agree
with those published in the last annual report. The same
is also true of the statistics based thereon.
G R O SS O + K R A T IN G R E V E N U E S .
—
1909.
1908.
Coal fr e ig h t________________5 1 4 ,8 3 1 ,6 7 0 78 $16,1 7 5 ,2 7 0
14,011,301
M erchandise fr e ig h t____ 1 3 ,291,830 90
P a s s e n g e r ________________
3 ,9 0 5 ,0 6 2 74 4 ,1 5 9 ,8 9 0
M a l l ____________
2 0 9,899 01
209,072
E x p r e s s ___________________
4 0 6 ,225 72
3 8 3,558
O ther tra n sp o r ta tio n ______
3 0 7 ,7 2 5 75
290,232
M is c e lla n e o u s _____________
185,417 31
280,818
F rom

T otal op era tin g rev e­
nues ................... ......... $ 3 3 ,1 3 7 ,8 3 2 21
$35,5 1 0 ,1 5 4
O P E R A T IN G E X P E N S E S .
M aintenance o f w a y and
stru ctu res____________ $ 3 ,2 7 3 ,3 3 0 47
$ 3 ,3 0 8 ,6 4 2
M aintenance o f e q u ip m en t 5 ,8 3 2 ,4 3 0 15
6,1 5 3 ,8 7 4
T raffic e x p e n s e s _______
810,203 00
778,652
T ran sportation exp en ses 0 ,0 4 0 ,0 0 0 50
11,3 1 2 ,0 2 7
G eneral e x p e n s e s _______
700,764 00
637,040

04
78
47
78
16
18
91
22
07
30
05
13
04

In crea se (+ ) or
D e c r e a s e (— ).

— $1 ,3 4 3 ,6 0 9
— 7 1 9 ,4 7 0
— 2 54,827
+ 820
+ 2 2,667
+ 17,493
— 95,401

16
88
73
23
56
57
60

-$ 2 ,3 7 2 ,3 2 2 01

— $1 2 5 ,3 0 2
— 3 2 1 ,4 4 4
+ 3 1 ,6 4 0
— 1 ,3 0 3 ,0 1 7
+ 7 1,824

60
1.
05
54
05

T o ta l op era tin g e x ­
p en ses ____________ $20,5 7 5 ,7 3 6 30

$ 2 2 ,3 1 2 ,0 3 6 49

— $1 ,7 3 6 ,3 0 0 10

N e t O p eratin g R e v e n u e .$ 1 2 ,5 6 2 ,0 9 5 01

$ 1 3 ,1 9 8 ,1 1 7 73

— $636,021 8;

62.83%

— .74%

R atio of op era tin g ex p en ses
to op eratin g r e v e n u e s.

62.00%

REVENUES.
COAL F R E IG H T .

The transportation of coal, including coke, produced a
revenue of $14,831,670 78, a decrease of $1,343,609 16, or
8.31 per cent, as compared with the preceding year. This
decrease is occasioned by the reduced tonnage of anthracite
coal as a result of the mild winter and depressed commercial
conditions.
The Lehigh Valley Coal Company and affiliated companies
mined and purchased during the year 83.2 per cent of the
anthracite coal transported by the Lehigh Valley Railroad
Company.
The percentage of coal freight revenue to total operating
revenues was 44.76 per cent, a decrease of .79 per cent.
The coal and coke tonnage transported, not including
supply coal, amounted to 13,273,136 tons, a decrease of
1,249,126 tons, or 8.60 per cent.
The number of tons moved one mile amounted to 2,017,­
613,649, a decrease of 204,338,134 ton miles, or 9.20 per cent.
The average haul decreased from 153.00 to 152.01 miles,
a decrease of .99 mile, or .65 per cent.
The coal tonnage was 53.39 per cent of the total tonnage
hauled during the year, as compared with 54.84 per cent
for the previous year, being a decrease of 1.45 per cent.

$719,470 88, or 5.13 per cent, as compared with the previous
twelve months. The failing off in this class of traffic is due
to tne smaller volume of freight available for movement
generally
Of this decrease but $126,571 52 is in the local
tiaffic, the greater portion being in the traffic received from
or delivered to other railroads.
1 he percentage of revenue derived from the transportamerchandise freight to total operating revenues was
40.11 per cent, an increase of .05 per cent.
11
m o v .e d > exclusive of Company's material, was
11,586,069 tons, a decrease of 371,830 tons, or 3.11 per cent.
, „ - l nu , r of tons cari’ied one mile amounted to 2,380,­
1 nA688’ a decrease of 192,890,046 ton miles, or 7.50 per cent
Ihe average haul decreased from 215.17 to 205.44 miles a
decrease of 9.73 miles, or 4.52 per cent.
Company’s material amounting to 364,378 tons was trans­
ported during the year, being a decrease of 67,767 tons, or
15.68 per cent.
G E N E R A L F R E IG H T .

^ 11oofco°^ „r®venue fr°ni both coal and merchandise freight
was $28,123,501 68, a decrease of $2,063,080 04, or 6^83
per cent, as compared with the preceding year.
3 he entire freight traffic amounted to 24,859,205 tons
being a decrease of 1,620,956 tons, or 6.12 per cent.
'
The number of tons carried one mile was 4,397,809,337 a
decrease of 397,228,180 ton miles, or 8.28 per cent.
’
The average distance carried was 176.91 miles, a decrease
of 4.17 miles, or 2.30 per cent.
The average revenue per ton was 113.13 cents, as against
114.00 cents last year, being a decrease of .87 cent, or 76
per cent.
Company’s freight, not included in the above, amounted to
2,238,955 tons, a decrease of 398,137 tons, or 15.10 per cent
The total freight-train mileage was 8,216,419 miles a
decrease of 822,758 miles, or 9.10 per cent.
Revenue received per freight-train mile was $3 42 as
compared with $3 34, being an increase of $.08, or 2 40
per cent.
’
The average train load of revenue freight was 535 25 tons
an increase of 4.78 tons, or .90 per cent. Including Com­
pany s freight, the average train load was 553.13 tons as
against 550.34 last year, an increase of 2.79 tons, o r’ 51
per cent.
The average number of tons of revenue freight in each
loaded car was 22.85 tons, a decrease of .55 ton, or 2.35
per cent. Including Company’s freight, the average car­
load was 23.62 tons, a decrease of .66 ton, or 2.72 per cent.
PA SSEN G E R .

The receipts from passenger traffic amounted to $3,905 062 74, a decrease of $254,827 73, or 6.13 per cent, as com­
pared with the previous twelve months. This decrease is
due principally to the falling off in through business inter­
changed with foreign lines. Your Company has been unable
as yet to obtain any relief from the law enacted by the State
of Pennsylvania, reducing the rates of fare to a maximum of
two cents per mile, although every effort to that end is
being made, which, if successful, will increase the revenue
on passenger business in that State.
The total number of passengers carried was 4,876.801 a
decrease of 49,403, or 1.00 per cent.
The number of passengers carried one mile decreased
23,728,297, or 9.61 per cent.
The average revenue per passenger was 80.07 cents, a
decrease of 4.37 cents, or 5.18 per cent.
The average revenue per passenger mile was 1 749 cents
an increase of .065 cent, or 3.86 per cent.
. T h e average distance traveled by each passenger was
45.79 miles, a decrease of 4.36 miles, or 8.69 per cent
•
Passenger-train mileage was 4,014,782, an increase of
40.256 miles, or 1.01 per cent.
The revenue from passengers per passenger-train mile
was 97.27 cents, a decrease of 7.39 cents, or 7.06 per cent.
The average number of passengers per train was 55.62 a
decrease of 6.53, or 10.51 per cent, and the average number
of passengers per car was 16.61, a decrease of 1.40 or 7 77
per cent.
EXPENSES.
M A IN T E N A N C E O F W A Y .

The total expense for maintenance of way and structures
was $3,273,339 47, a decrease of $125,302 60, or 3 69 per
cent, as compared with the preceding year. Notwithstand­
ing this reduction, the expenditures have been ample in
view of the lighter volume of business, to fully maintain’the
track, bridges, and all property used in connection there­
M E R C H A N D IS E F R E IG H T .
with.
The revenue derived from the transportation of merchan­
During the year one wooden and two iron bridges were
dise freight amounted to $13,291,830 90, a decrease of constructed. Twenty-one steel bridges, replacing old




w o o d e n or lig h t iron b r id g e s, a n d s e v e n s te e l or c o n c r e te
b r id g e s, r e p la c in g lig h t iron b r id g e s, w e re b u ilt . T h r e e iron
b r id g e s w e re r ep la c ed b y p ip e c u lv e r ts a n d tw o w o o d e n
b r id g e s w e re a b a n d o n e d a n d th e o p e n in g s filled .
7 2 ,8 1 1 f e e t , or 1 3 .7 9 m ile s, o f C o m p a n y 's sid in g s a n d
1 7 ,8 4 6 f e e t , or 3 .3 8 mile.% o f in d u str ia l sid in g s w e re c o n ­
s tr u c te d .
1 5 ,4 4 2 to n s o f n e w 9 0 -p o u n d r a il, t o g e th e r w it h n e c essa ry
fr o g s, s w itc h e s , e t c ., w e re p la c ed in th e tr a c k .
2 7 4 ,4 2 9 tie p la te s w e re u s e d .
6 1 8 ,5 9 3 c r o s s-tie s, 2 ,0 1 4 ,7 5 2 f e e t B . M . s w it c h - t ie s , 6 9 6 ,­
8 8 8 f e e t B . M . b r id g e -tie s a n d lu m b e r a m o u n tin g to 2 ,3 6 5 ,2 6 2
fe e t B . M . w e re u s e d d u rin g th e y e a r .
1 7 .4 0 m ile s o f te le g r a p h a n d te le p h o n e p o le lin e w ere re­
b u ilt a n d 1 2 3 .4 5 m ile s r e s e t.
1 9 0 .5 0 m ile s o f n e w c o p p e r , 8 2 .2 5 m ile s o f n e w iron a n d
2 5 .3 5 m ile s o f se c o n d -h a n d iro n w ir e w ere u s e d in e x te n d in g
t e le p h o n e , te le g r a p h a n d sig n a l w ir e s . 3 8 .1 0 m ile s o f iron
w ire a n d 8 4 .7 5 m ile s o f c o p p e r w ire w e re u sed in r ep la c in g
w o r n -o u t w ir es in t h e s a m e s e r v ic e .
M A IN TEN A N C E O P E Q U IP M E N T .

T h e s u m o f $ 5 ,8 3 2 ,4 3 0 15 w a s e x p e n d e d for th e m a in te ­
n a n c e o f e q u ip m e n t d u rin g th e y e a r , a d e c re a se o f $ 3 2 1 ,­
4 4 4 15, or 5 .2 2 p er c e n t , a s c o m p a r ed w ith t h e p r e v io u s
tw e lv e m o n t h s . T h is d e c r e a se is th e n a tu ra l r e s u lt of th e
sm a ller a m o u n t o f e q u ip m e n t in a c tu a l se r v ic e , o w in g to th e
r e s tr ic te d b u sin e ss , a n d w a s n o t b r o u g h t a b o u t b y a n y im ­
p a ir m e n t o f th e p h y s ic a l c o n d itio n o f th e s a m e , w h ic h h a s
b een f u lly m a in ta in e d .
I n c o m p lia n c e w ith t h e o rd er, e ffe c tiv e J u ly 1 190 7 , issu ed
b y th e I n t e r - S t a t e C o m m erce C o m m issio n , req u irin g a
m o n th ly ch a r g e to e x p e n s e s fo r th e d e p r e c ia tio n o f e q u ip ­
m e n t, th e s u m o f $ 9 9 1 ,2 6 7 87 w a s c h a r g ed to m a in te n a n c e
d u rin g t h e y e a r a n d c r e d ite d to E q u ip m e n t R e p la c e m e n t
R e s e r v e . A fte r a d d in g th is su m to th e b a la n c e r e s u ltin g
fr o m sim ila r c h a r g es m a d e d u rin g th e p r e v io u s y e a r , a n d d e ­
d u c tin g th e r efr o m th e c o s t of a d d itio n a l e q u ip m e n t a n d
o th e r c h a r g e s , t h e b a la n c e to th e c re d it o f t h a t r eser v e a c ­
c o u n t, in c lu d in g th e d e p r e c ia tio n of flo a tin g e q u ip m e n t
o n J u n e 3 0 w a s $ 1 ,3 8 2 ,5 1 1 7 8 , a n in c r e a se o f $ 8 0 3 ,8 4 8 5 8 .
F o u r h u n d re d 1 0 0 ,0 0 0 -p o u n d s c a p a c ity d r o p -e n d s te e l
g o n d o la ca rs a n d fiftee n 8 ,0 0 0 -g a llo n s c a p a c ity te n d e r s w e re
p u r c h a s e d a n d c h a r g ed to E q u ip m e n t R e p la c e m e n t R e se r v e .
T w e lv e s te e l u n d e rfr a m e c a b o o se cars w e re b u ilt a n d th e
c o st a lso c h a r g ed to th e s a m e a c c o u n t. S ix lo c o m o tiv e
c ra n es w e r e p u r c h a s e d a n d ch a rg ed to A d d itio n s a n d B e t ­
te r m e n ts .
„
. ,
,
.
„
T o r ed u c e th e fu tu r e c o s t o f m a in te n a n c e a n d p ro lo n g th e
life o f t h e la rg e c a p a c ity w o o d e n fr e ig h t ca rs, it h a s b een
d e c id e d to e q u ip th e sa m e w ith s te e l u n d e rfr a m es a s fa s t
a s s u c h ca rs a re r e c e iv e d in th e sh o p s for h e a v y rep a irs.
F o r t h is p u r p o se 8 3 2 u n d e rfr a m es w e re p u r c h a se d a n d u s e d .
F o u r te e n lo c o m o tiv e s , u n fit for fu r th e r s e r v ic e a n d of an
a g e a n d d e sig n t h a t d id n o t w a r ra n t r e b u ild in g , w e re s o ld ,
a n d th e ir b o o k v a lu e , le s s p r o c e e d s o f sa le , c h a r g ed to O p­
e r a tin g E x p e n s e s .
A .
.
,
F if t y - s ix n e w fire b o x e s , t w e n t y n e w te n d e r fr a m e s a n d
tw o n t y - o n e n e w c is te r n s w e re a p p lie d .
O n e 4 ,5 0 0 a n d th r e e
8 0 0 0 g a llo n s c a p a c ity te n d e r s w e re c o n s tr u c te d . 7 2 5
lo c o m o tiv e s r e c e iv e d h e a v y a n d g e n e ra l rep a irs.
S ix p a s se n g e r c o a c h e s , th r e e c o m b in a tio n p a s se n g e r a n d
b a g g a g e c a rs, o n e b a g g a g e a n d m a il car, 8 2 4 fr e ig h t cq u ip m w it ca rs a n d s e v e n t y - t w o ro a d se r v ic e ca rs w e re c o n ­
d e m n e d a n d d e s tr o y e d d u rin g th e y e a r , a n d t h e v a lu e th e r e o f,
less s a lv a g e , ch a rg ed to o p e r a tin g e x p e n s e s .
O n e b a g g a g e a n d m a il car w a s r e b u ilt in ord er to p r o v id e
m a il c o m p a r tm e n ts to c o n fo r m to G o v e r n m e n t req u ire­
m e n ts . 3 1 8 p a sse n g e r e q u ip m e n t cars w e re p a in te d a n d
v a r n is h e d , n in e e q u ip p e d w ith w id e v e s tib u le s a n d se v e n
w ith sta n d a r d s te e l p la tfo r m s. S e v e n t y - s e v e n p a sse n g e r
ca rs w e re e q u ip p e d w ith n e w sta n d a r d s te p s a n d te n m ilk
ca rs w it h n e w s te e l tr u c k s.
T h e t o t a l n u m b e r o f fr e ig h t e q u ip m e n t ca rs a t th e en d
« f th e y e a r w a s 4 2 ,3 7 6 , h a v in g a c a p a c ity o f 1 ,5 0 5 ,7 9 5 to n s ,
a d e c r e a se o f 4 2 5 cars a n d a n in c re a se of 1 ,1 5 5 to n s . T h e
t o ta l n u m b e r o f lo c o m o tiv e s w a s 8 7 3 , h a v in g a tr a c tiv e
p o w er o f 2 3 ,7 0 3 ,0 5 0 p o u n d s , a d e c re a se of t w e lv e lo c o m o tiv e s
a n d 1 8 4 ,9 8 6 tr a c tiv e p o u n d s.
.
/
I t h a s b e e n th e p o lic y of y o u r C o m p a n y d u rin g r e c e n t y e a r s
to c o n d e m n a n d d isp o se o f a ll lig h t lo c o m o tiv e s a n d sm a ll
c a p a c it y ca rs o f o b s o le te t y p e w h e n e v e r th e ir c o n d itio n re­
q u ires h e a v y r ep a ir s, a n d to r ep la c e w ith e q u ip m e n t of larger
c a p a c ity a n d m o d ern d e s ig n . S u c h a p o lic y te n d s to g r ea te r
e c o n o m y , p a r tia lly o ffse ts th e c o n s t a n t ly in c r e a sin g c o st
o f ra ilr o a d o p e r a tio n , in c re a se s a s w e ll th e f a c to r o f s a f e t y
a n d im p r o v e s th e e ffic ie n c y o f th e s e r v ic e .
M uch h a s b een
a c c o m p lis h e d in th is d ir e c tio n . In 1 906 th e a v e r a g e c a p a c ity
o f b o x ca rs w a s 5 9 ,5 0 0 p o u n d s, w h e r e a s o n J u n e 30 1909 th e
a v e r a g e c a p a c ity h a d b e e n r a ised to 6 3 ,7 8 0 p o u n d s, a n d
c o a l ca rs fr o m 6 3 ,8 2 0 p o u n d s to 7 9 ,9 2 0 p o u n d s .
D u r in g th e
sa m e p e r io d th e a v e r a g e tr a c tiv e p o w er of lo c o m o tiv e s in ­
c rea sed fro m 2 5 ,7 9 8 p o u n d s to 2 7 ,1 5 1 p o u n d s.
.

T R A F F IC E X P E N S E S .

T h is c la ss of e x p e n s e s a m o u n te d to $ 8 1 0 ,2 9 3 0 0 , a n in ­
c rea se o f $ 3 1 ,6 4 0 0 5 o v e r th e p r e ce d in g y e a r . T h e in c re a se d
e x p e n s e fo r filin g ta riffs a s req u ired b y v a r io u s la w s m ore
th a n o ffse ts th e r e d u c tio n m a d e in o th e r e x p e n s e s u n d e r th is
h e a d in g .




T R A N S P O R T A T IO N E X P E N S E S .

T h e t o ta l c o s t o f c o n d u c tin g tr a n s p o r ta tio n w a s $ 9 ,9 4 9 ,­
9 0 9 5 9 , a d e c re a se of $ 1 ,3 9 3 ,0 1 7 5 4 , or 1 2 .2 8 p er c e n t , a s
c o m p a r ed w ith th e p r e v io u s tw e lv e m o n th s . T h e r a tio o f
tr a n s p o r ta tio n e x p e n se s to t o ta l o p e r a tin g r e v e n u e s w a s
3 0 .0 3 p er c e n t, a s a g a in s t 3 1 .9 4 p er c e n t la s t y e a r , a d e c re a se
o f 1 .9 1 p e r c e n t.
GENERAL EX PEN SES.

T h e e x p e n d itu r e s u n d e r th is h e a d in g a m o u n te d to $ 7 0 9 ,­
7 6 4 0 9 , a n in c r e a se , a s c o m p a r e d w ith th e p r e c e d in g fiscal
y e a r , of $ 7 1 ,8 2 4 0 5 , or 1 1 .2 6 p er c e n t . T h e e x p e n s e of
e m p lo y in g c o u n s e l to d e fe n d th e C o m p a n y in th e m a n y s u its
b r o u g h t b y n a tio n a l a n d S t a t e b o d ie s a n d o th e r s , a s w ell
a s th e n e c e s s ity of le g a l a d v ic e o n m a tte r s g r o w in g o u t o f
r e c e n t e n a c tm e n ts , w a s v e r y h e a v y , h a v in g in c re a se d m a ­
te r ia lly d u rin g th e la s t y e a r . T h e in c re a se in le g a l e x p e n s e s
a lo n e m o re th a n a c c o u n ts fo r th e t o ta l in c re a se s h o w n a b o v e ,
th e o th e r it e m s in c lu d e d u n d e r th is h e a d in g h a v in g d e c re a se d
a s c o m p a r ed w ith t h e p r e v io u s y e a r .
TA X ES.

D u r in g th e y e a r th e t a x e s le v ie d o n y o u r p r o p e r ty a n d
b u sin e ss a m o u n te d to $ 1 ,0 7 9 ,3 7 6 2 3 , o r 3 .2 6 p er c e n t o f th e
C o m p a n y 's r e v e n u e s , a n in c r e a se of .10 p er c e n t.
F L O A T IN G E Q U IP M E N T .
A m p le e x p e n d itu r e s w e re m a d e fo r m a in ta in in g t h e flo a t­
in g e q u ip m e n t o f th e C o m p a n y . E ig h t 1 ,6 2 0 -to n s c a p a c ity
s te e l c o a l b a rg es a n d o n e ste e l tu g w ere p u rc h a sed d u rin g th e
y e a r a n d ch a rg ed to E q u ip m e n t R e p la c e m e n t or o th e r re­
s e r v e s . O ne sm a ll w o o d e n tu g a n d tw o b a r g e s, c o v e r e d b y
in su r a n c e , w e re lo s t a t s e a . O n e c a t tle flo a t w a s s o ld a n d
o n e b a rg e c o n d e m n e d .
T h e flo a tin g e q u ip m e n t in N e w Y o rk H a rb o r or e n g a g e d
in c o a stw ise b u sin e ss a t t h e c lo se of th e y e a r w a s a s fo llo w s:
20 tu g s , 25 car flo a ts, 6 s t e a m lig h te r s, 3 c a ttle flo a ts, 196
b a r g e s, 1 h o is tin g b o a t, 3 w ork b o a ts , 1 w r ec k in g b o a t.
T h e v e sse ls c o m p r isin g th e fleet on th e G reat L a k e s h a v e
b e e n fu lly m a in ta in e d a n d r em a in th e sa m e a s d u rin g th e
p r e v io u s y e a r , v iz . W ilk es-B a rr e a n d M au ch C h u n k , e a ch
6 ,0 0 0 to n s c a p a c ity ; B e th le h e m , S e n e c a , S a r a n a c a n d T u s c a rora, e a c h 3 ,0 0 0 to n s c a p a c it y .
F IN A N C IA L .
T o p r o v id e c a sh to ca rry o n c er ta in im p r o v e m e n ts to th e
p r o p e r ty w h ic h it is d e e m e d a d v is a b le to p r o se c u te d u rin g
th e c o m in g fiscal y e a r , a n d to retire se v e r a l m o r tg a g e s o n
real e s t a t e , $ 3 ,0 0 0 ,0 0 0 o f G en eral C o n so lid a ted M o rtg a g e
fo u r p er c e n t B o n d s w ere s o ld , le a v in g in th e tr e a su r y $ 3 ,­
0 0 0 ,0 0 0 of sim ila r b o n d s a v a ila b le for fu tu r e r e q u ir e m e n ts.
T h e p r o c ee d s fro m th e s a le o f th e s e b o n d s , less th e p rin cip a l
of c er ta in o f th e m o r tg a g e s a lr e a d y m a tu r ed a n d p a id off,
h a v e b e e n s e t a sid e a s a sp e c ia l d e p o s it r eser v ed for th e e x ­
p e n d itu r e s c o n te m p la te d .
P a y m e n ts a m o u n tin g to $ 2 ,7 5 2 ,0 0 0 w ere m a d e for th e re­
tir e m e n t of o u ts ta n d in g o b lig a tio n s a s p r o v id e d in th e re­
s p e c tiv e m o r tg a g e s or d e e d s o f tr u s t, a n d r ep re se n t th e m utu red p rin cip a l o f $ 1 ,0 0 0 ,0 0 0 C o llateral rI r u s t fou r p er c e n t
B o n d s a n d E q u ip m e n t T r u st S e r ie s C, D , E , F , G , II, I a n d J .
I n th e se p a y m e n ts are in c lu d e d th e final in s ta llm e n ts d u e
on E q u ip m e n t T r u sts S e r ie s C, E a n d F , w h ic h m a tu r ed
d u rin g th e y e a r . T h o s e tr u s t a g r e e m e n ts w e re c a n c eled
a n d th e t it le to th e e q u ip m e n t p le d g e d th e r e u n d e r , c o n sistin g
of o n e th o u sa n d 1 0 0 ,0 0 0 -p o u n d s c a p a c ity co a l ca rs, o n e
th o u s a n d 8 0 ,0 0 0 -p o u n d s c a p a c ity coal ca rs, fo u r h u n d red
8 0 ,0 0 0 -p o u n d s c a p a c ity b o x c a rs, t w e n t y c o m b in a tio n
p a sse n g e r a n d b a g g a g e ca rs a n d o n e h u n d re d a n d s ix t e e n
lo c o m o tiv e s , h a s b e e n v e s te d in y o u r C o m p a n y . A t th e
clo se of th e y e a r th e t o t a l o u ts ta n d in g E q u ip m e n t t r u s t
o b lig a tio n s in th e h a n d s of th e p u b lic w e re $ 4 ,7 5 0 ,6 U 0 .
E q u ip m e n t T r u st C e rtifica te s S e r ie s H a n d I , a m o u n tin g to
a to ta l o f $ 3 ,5 6 0 ,0 0 0 , a re in th e tr e a su r y .
T h e L e h ig h V a lle y R a ilw a y C o m p a n y , w h ic h is th e ow n er
o f th e m o re im p o r ta n t lin e s in N e w Y o rk S t a t e , issu e d $ 2 0 2 ,­
0 0 0 o f it s ca p ita l s to c k to y o u r C o m p a n y to r eim b u rse tn e
la tte r for a d v a n c e s m a d e d u rin g th e la s t tw o y e a r s on a c ­
c o u n t of th e c o n str u c tio n o f th e L e h ig h a n d L a k e E r ie B r a n c h
a n d for y a r d a n d te r m in a l fa c ilitie s a t B u ffa lo . 1 1 n s s to c k
h a s b een d e p o s ite d a s a d d itio n a l c o lla te r a l s e c u r ity u n d e r
th e G en eral C o n so lid a ted M o rtg a g e o f th e L e h ig h V a lle y
R a ilro a d C o m p a n y a s req u ired th e r e b y .
Y o u r C o m p a n y r e c e iv e d a n d p la c ed in it s tr ea su ry $ 1 0 ,0 0 0
of F ir st M ortgage fiv e p e r c e n t B o n d s o f th e H a z le to n W a te r
C o m p a n y in s e t t le m e n t o f a d v a n c e s m a d e to th e la tte r for
th e p u rp o se o f c a rr y in g on cer ta in im p r o v e m e n ts to it s p la n t.
F o r th e p r o te c tio n o f t h e fu tu r e w a te r s u p p ly in L u zern e
C o u n ty P a ., th e c a p ita l s t o c k s of T h e D e n iso n T o w n sh ip
W a te r C o m p a n y a n d th e W y o m in g V a lle y W a te r S u p p ly
C o m p a n y w e re p u r c h a s e d , th o s e c o m p a n ie s h a v in g v a lu a b le
ch a rter rischts.
T h e p r o p e r ty of th e G len S u m m it H o te l & L a n d C o m p a n y ,
on e of y o u r su b s id ia r y c o m p a n ie s, w h ic h h a s b een b a n k r u p t
for m a n y y e a r s , w a s so ld u n d er ju d g m e n t a n d p u rc h a sed
in th e in te r e s t o f y o u r C o m p a n y . T h e v a lu e o f th e p r o p e r ty
so a c q u ir ed h a s b een a d d e d to R e a l E s t a t e A c c o u n t. A s
th e G len S u m m it C o m p a n y w a s th e r efo r e left w ith o u t a n y
p r o p e r ty or a s s e ts , th e s t o c k s a n d b o n d s of t h a t C o m p a n y
w ere w r itte n off a n d a c c o r d in g ly d isa p p e a r from th e ta b le
o f S e c u r itie s O w n e d .
.
. ..
T h e sm a ll in te r e s t h e ld b y y o u r C o m p a n y in th e se c u r itie s
o f th e M an sion H o u se H o t e l C o m p a n y , c o n sistin g of $7,U()0
b o n d s a n d $ 1 0 ,0 0 0 s t o c k , w a s so ld d u rin g th e y e a r .

00 * , a 1909, j

THE CHRONICLE

T h o r e d u c tio n in O th er I n c o m e is d u e p r in c ip a lly to th e
d e c r e a se d r e n ta l r e c e iv e d from o th e r ra ilro a d c o m p a n ie s
for th e h ire o f e q u ip m e n t, a s a r esu lt o f th e la rg e n u m b e r of
id le c a r s . T h e c h a n g e s in c la s sific a tio n a s p rescrib ed b y th e
I n te r -S ta te C o m m erce C o m m issio n h a v e a lso a ffe c te d se v e r a l
o f th e ite m s in c lu d e d in th e h e a d in g referred to a n d h a v e
c a u se d c e r ta in a p p a r e n t d e c r e a se s, p a r tic u la r ly in th e ca se
o f th e w a te r lin e s .
T h e o p e r a tio n of th e L e h ig h a n d N e w Y o r k R a ilro a d
d u rin g th e y e a r resu lted in a lo ss of $ 8 8 ,0 2 8 6 3 . T h is p r o p ­
e r ty h a s b een o p e r a ted b y y o u r C o m p a n y s in c e 1895 u n d er
lea se a n d , n o t w ith s ta n d in g th e m o s t rigid e c o n o m ie s, h a s
g e n e r a lly p r o v e d u n p r o fita b le . T h e m a tte r is o n e n o w o c c u ­
p y in g th o a tte n tio n o f y o u r m a n a g e m e n t.
T h e sm a ll d e c re a se in E q u ip m e n t A c c o u n t, a s sh o w n in
t h e g e n e ra l b a la n ce s h e e t , is c a u se d b y th e c r e d its to t h a t
a c c o u n t o f th e b o o k v a lu e o f c er ta in sm a ll c a p a c ity cars
w h ic h w ere d isp o se d of in a c c o r d a n c e w ith a u t h o r it y g r a n te d
b y y o u r B o a r d in 1 9 0 7 . N o e q u ip m e n t w a s c h a rg ed to
C a p ita l A c c o u n t d u rin g th e y e a r .
T h e in c r e a se in Ile a l E s t a t e A c c o u n t is o c c a s io n e d b y th e
p a y m e n t o f se v e r a l p u rc h a se m o n e y m o r tg a g e s on su n d r y
tr a c ts o f la n d a n d m isc e lla n e o u s p u r c h a s e s o f real e s t a t e .
T h e b o o k v a lu e o f th e C o x e p r o p e r tie s h a s b een r ed u ced
b y $ 1 ,0 0 0 ,0 0 0 , a lik e a m o u n t of th e r e ser v e for d e p r e c ia tio n
o f th e C o x e m in e s a n d p r o p e r tie s h a v in g b een a p p r o p r ia te d
for th is p u r p o se . T h a t r eserv e h a s b een c lo sed b y tr a n s­
ferrin g t h e sm a ll r e m a in in g b a la n c e to G en eral R e se r v e F u n d .
S in ce th e C o x e p r o p e r tie s d e c re a se in v a lu e a s th e coal is
m in e d th e r e fr o m , it h a s b een d e e m e d a d v is a b le for th e p a s t
tw o y e a r s to w r ite d o w n th e b o o k v a lu e a s m e n tio n e d .
T h e v a lu e o f m a ter ia ls a n d s u p p lie s on h a n d a t t h e clo se
o f th e y e a r a m o u n te d to $ 2 ,0 8 4 ,1 9 9 5 1 , a d e c re a se o f $ 1 9 ,­
997 2 1 .
C u rren t A s se ts are $ 1 4 ,0 5 4 ,1 7 7 74 in e x c e s s o f C u rren t
L ia b ilitie s , a n in c re a se o f $ 3 ,7 1 5 ,3 5 8 76 a s c o m p a r ed w ith
th e p r e v io u s y e a r .
T h e o u ts ta n d in g c a p ita l in d e b te d n e s s o f th e C o m p a n y
in c r e a se d $ 2 4 8 ,0 0 0 , d u e to th e issu a n c e o f $ 3 ,0 0 0 ,0 0 0 G en eral
C o n so lid a ted M o rtg age B o n d s p r e v io u s ly m e n tio n e d , less
$ 1 ,0 0 0 ,0 0 0 C o lla tera l T r u st B o n d s a n d $ 1 ,7 5 2 ,0 0 0 E q u ip ­
m e n t T r u st o b lig a tio n s w h ic h m a tu r e d d u rin g th e y e a r .
T h e a m o u n t o f c a p ita l s to c k issu e d r em a in s u n c h a n g e d .
A se m i-a n n u a l d iv id e n d o f fiv e p er c e n t o n th e p referred
c a p ita l s t o c k , a n d a s e m i-a n n u a l d iv id e n d o f tw o p er c e n t,
w ith a n e x tr a d iv id e n d of o n e p er c e n t, on th e c o m m o n
c a p ita l s to c k o f th e C o m p a n y , w ere d e c la r ed b y y o u r B o a r d
o f D ir e c to r s o n D e ce m b e r 16 1908 a n d p a id J a n u a r y 9 1909.
S im ila r d iv id e n d s w ere d e c la r ed on J u n e 16 1909 a n d p a id
J u ly 10 1 9 0 9 .
T h e g e n e ra l b a la n ce s h e e t a n d v a r io u s s t a t e m e n t s a p ­
p e n d ed sh o w th e fin a n cia l c o n d itio n o f th e C o m p a n y a t th e
clo se o f th e fiscal y e a r.
T h e a c c o u n ts o f th e C o m p a n y for th e fiscal y e a r h a v e b een
e x a m in e d a n d th e c a sh a n d se c u r itie s v erified b y certified
p u b lic a c c o u n ta n ts , th e r esu lt o f w h ic h is s e t fo r th in th e
a c c o u n t a n t s ’ c e r tific a te a p p e a r in g on p a g e 19 [p a m p h le t
r e p o r t].
T h e a n n u a l rep o rt of th e m in in g o p e r a tio n s c o n d u c te d b y
T h e L e h ig h V a lle y C oal C o m p a n y a n d o th e r c o m p a n ie s in
w h ic h it a n d th e L e h ig h V a lle y R a ilr o a d C o m p a n y a re in te r ­
e s te d , th r o u g h o w n er sh ip o f s t o c k , h a s b e e n p u b lish e d c o n ­
c u r r e n tly w ith th is r ep o rt. T h e n e t in c o m e o f T h e L e h ig h
V a lley C oal C o m p a n y w a s $ 3 7 5 ,4 5 2 16, a d e c re a se of $ 1 3 ,­
153 9 5 , a s c o m p a r ed w ith th e p r e c e d in g fiscal y e a r .
G ENERA L REM ARKS.
T h o y e a r g e n e r a lly h a s b r o u g h t a b o u t n o c h a n g e s of im ­
p o r ta n c e in th e affa irs or p r o p e r ty of y o u r C o m p a n y . T h e
d e c re a se in t h e C o m p a n y 's r e v e n u e s n e e d s n o e x p la n a tio n ,
th e b u sin e ss d e p r e ssio n e x te n d in g o v e r th e c o u n tr y a t la rg e
b e in g r e s p o n s ib le th e r efo r . A c o n sid e r a b le r e d u c tio n w a s
m a d e in th e e x p e n se o f o p e r a tio n to o ffse t th e r ed u c ed r e v e ­
n u es; b u t th is r e d u c tio n c a u se d n o im p a ir m e n t o f th e p h y sic a l
c o n d itio n o f t h e p r o p e r ty , w h ic h r e m a in s a t it s u su a l h ig h
s ta n d a r d . A m p le e x p e n d itu r e s w ere m a d e for m a in te n a n c e ,
th o s e a c c o u n ts sh o w in g b u t slig h t c h a n g e s a s c o m p a red
w ith th e p r e v io u s y e a r . T h e b u lk o f th e d e c r e a se is in th e
e x p e n s e o f tr a n s p o r ta tio n .
O w in g to th e fa llin g off in b u sin e ss a n d th e c o n se q u e n t
r e d u c tio n in r e v e n u e , n o e x t e n s iv e a d d itio n s a n d b e tte r m e n ts
w ere m a d e t o th e p r o p e r ty o th e r th a n th o s e req u ired in th e
im m e d ia to c o n d u c t of th e b u sin e ss , w ith th e e x c e p tio n of
c er ta in p r e lim in a r y w ork in th e n a tu r e o f g r a d in g , tr a ck
la y o u t, e t c . , th a t w ill b e n e c e s sa r y in fu r th e r in g th e C om ­
p a n y ’s p o lic y o f r ed u c in g g r a d e s, im p r o v in g a lig n m e n t a n d
e x te n d in g th ird a n d fo u r th tr a c k s.
S in c e t h e c lo se of th e fiscal y e a r , h o w e v e r , y o u r B oard
h a s d e e m e d it a d v is a b le to a u th o r iz e e x p e n d itu r e s o f a p ­
p r o x im a te ly $ 2 ,0 0 0 ,0 0 0 for a d d itio n a l b e tte r m e n ts a n d im ­
p r o v e m e n ts to th e p r o p e r ty , c o n s is tin g o f e x te n s io n s of
th ird a n d fo u r th tr a c k s, n ew fr eig h t a n d p a sse n g e r f a c ilitie s ,
th e e n la r g e m e n t o f te r m in a ls a n d for o th e r im p r o v e m e n ts ,
w h ich w ill te n d e ith e r to a r ed u c tio n in th e e x p e n s e o f o p ­
era tio n or p r o v id e for in crea sed b u sin e ss .
A la rg e p o r tio n
o f th o se e x p e n d itu r e s w ill b e c h a r g ed to C a p ita l A c c o u n t a n d
th e b a la n c e to A d d itio n s or E x p e n s e s , a s m a y b e p ro p er.
It sh o u ld b e o b ser v e d in th is c o n n e c tio n t h a t the^ 'in e o f th e
L eh ig h V a lley R a ilro a d C o m p a n y is lo c a te d tKjuy w ith in
th e tftafco o f P e n n s y lv a n ia , th e lin es in N e w Y o r k a n d N ew




853

J e r s e y b e in g in th e n a m e s o f su b s id ia r y c o m p a n ie s , a n d th a t
su c h c a p ita l e x p e n d itu r e s a s are m a d e for a c c o u n t o f th e
s a m e are n o t r eflec ted in th e it e m , C ost o f R o a d , on th e c o n ­
d e n s e d b a la n c e s h e e t, b u t in th e it e m , S e c u r itie s O w n e d .
T h e la t t e r it e m , a s w ill b e n o te d b y r eferen ce to p r e v io u s
a n n u a l r e p o r ts, h a s in c re a se d m a te r ia lly d u rin g th e la st
fe w y e a r s .
T h e c o m p lia n c e b y y o u r C o m p a n y for a n o th e r y e a r w ith
th e ord er issu e d b y th e I n te r -S ta te C o m m erce C o m m issio n ,
p r e sc r ib in g c e r ta in m o n t h ly c h a r g es to M a in ten a n c e A c c o u n t
for d e p r e c ia tio n o f e q u ip m e n t, a n d w h ic h h a s r e s u lte d in a
b a la n c e of $ 1 ,3 8 2 ,5 1 1 78 a t th e c lo s e of th e y e a r , n o t w it h ­
s ta n d in g r e p la c e m e n ts c h a r g ed th e r e to , h a s fu r th e r c o n ­
v in c e d y o u r m a n a g e m e n t o f th e u tte r im p r a c tic a b ility o f
su c h a s y s t e m .
B a s in g , a s it d o e s, ch a r g es u p o n th e o r y
a n d n o t u p o n fa c ts , c h a r g e s w h ic h a re a s g r e a t w h e n e q u ip ­
m e n t is id le a s w h en in c o n s ta n t s e r v ic e , it p r o d u c e s c o n ­
fu sio n in a r r iv in g a t th e a c tu a l c o s t o f o p e r a tio n . I t is
h o p e d , in th is c o n n e c tio n , t h a t th e C o m m issio n w ill a t a n
e a rly d a te so m o d ify it s o rd er t h a t c h a r g es w ill b e b a sed
u p o n a c tu a l c o n d itio n s a n d n o t u p o n a n a r b itr a r y or t h e o ­
r etica l r a te o f d ep i’e c ia tio n w h ic h m a y or m a y n o t e x is t .
I t is g r a tify in g to n o te t h a t th e p a s t y e a r h a s w itn e s s e d
n o a d d itio n a l v io le n t or ra d ica l le g isla tio n a ffe c tin g r a ilr o a d s,
e ith e r b y C o n g ress or th e v a r io u s S t a t e s in w h ic h th e C o m ­
p a n y ’s p r o p e r ty is lo c a te d , a n d , in th is c o n n e c tio n , it m a y
b e o b s e r v e d t h a t th e r e is s o m e r e v iv a l in b u sin e ss a c t iv i t y ,
w h ic h , if u n h a m p e r e d b y a d v e r s e le g is la tio n , s h o u ld r e s u lt
in a s p e e d y retu rn to n o rm a l p r o sp e r ity .
T h e w o rk o f p r o v id in g for a p e r m a n e n t e m b a n k m e n t a n d
v ia d u c t on a r ev ise d lin e a n d g r a d e a t G r e e n v ille , a s m e n ­
tio n e d in th e la s t a n n u a l rep o rt, w a s c o n tin u e d , th e g r a d in g
b e in g e n tir e ly c o m p le te d . T h e a m o u n t c h a r g ed t o th is
a c c o u n t d u rin g th e y e a r w a s $ 9 9 ,3 1 1 , m a k in g a t o t a l e x ­
p e n d itu r e to d a te o f $ 1 7 6 ,5 6 5 .
T h e e a s t a n d w e s t b o u n d y a r d s a t M a n c h e ster w e re e n ­
la rg ed a t a c o st o f $ 7 7 ,3 7 0 , b y th e a d d itio n o f 8 .7 3 m ile s o f
tr a c k , to e n a b le t h e c la s sific a tio n a n d c o n s o lid a tio n in to
th r o u g h tr a in s o f th e cars to a n d fro m fr o n tie r c o n n e c tio n s ,
th u s g r e a tly r ed u c in g sw itc h in g a n d c o n s e q u e n t d e la y in
in te r m e d ia te y a r d s .
A s ta ff s y s t e m , a s a n a u x ilia r y to t h e a u to m a tic b lo ck
sig n a l p r o te c tio n o n th e s in g le tr a ck m o u n ta in g r a d e b e tw e e n
F a ir v ie w a n d C o n w a y , a d is ta n c e o f 1 1 .2 m ile s, to g e th e r
w ith a n in te r lo c k in g p la n t a t C o n w a y , is b e in g in s t a lle d .
T h e p la c in g o f a u to m a tic sig n a ls on th e N ia g a r a F a lls B r a n c h
w a s c o m p le te d d u rin g t h e y e a r a t a n e x p e n s e o f $ 2 1 ,1 4 3 .
S id in g s to th e e x t e n t o f 7 ,4 5 0 fe e t w ere c o n s tr u c te d a t
L e h ig h to n for th e sto r a g e o f ca rs, w h ic h w ill fa c ilit a te th e
m a k in g o f rep airs a t P a ck cr to n S h o p a s w ell a s a v o id b lo c k ­
in g th e r u n n in g tr a c k s. A d d itio n a l e a s tb o u n d r e c e iv in g
tr a c k s for th e relief of C o x to n Y ard w ere a lso c o n s tr u c te d .
In ord er to c o m p ly w ith th e r e q u ir e m e n ts o f th e N e w Y o rk
S t a t e B o a r d of H e a lth , e x t e n s iv e im p r o v e m e n ts a n d r ep a irs
w e re m a d e to v a r io u s m ilk -sh ip p in g s ta tio n s on th e s y s t e m .
D u r in g th e y e a r e x p e n d itu r e s a p p r o x im a tin g $ 4 2 ,8 1 5 w ere
in cu rred a t S o u th B e th le h e m in c o n n e c tio n w ith th e c o n ­
s tr u c tio n o f n ew y a r d tr a c k s a n d th e p r o p o sed c h a n g e of
a lig n m e n t.
S ix lo c o m o tiv e cra n es w ere p r o v id e d a t v a r io u s p o in ts on
th e lin e for m o re e c o n o m ic a l fu e lin g o f lo c o m o tiv e s a n d
h a n d lin g o f a s h e s , a t a n e x p e n s e o f $ 3 6 ,1 0 5 .
I m p r o v e m e n ts w ere m a d e t o th e w a te r -s u p p ly s y s t e m
a t S o u th E a s to n b y th e in s ta lla tio n of a n a d d itio n a l h ig h p ressu re m a in a n d tw o n e w 3 5 ,0 0 0 -g a llo n s c a p a c it y ta n k s
w ith 1 2 -in c h sta n d p ip es; a t S h ie ld s b y th e c o n s tr u c tio n o f
a n a d d itio n a l ta n k of 6 0 ,0 0 0 -g a llo n s c a p a c ity , a n d a t L o d i
b y r ep la c in g a 4 -in c h lin e from th e reser v o ir b y a n 8 -in c h
lin e . A 1 2 -in ch sta n d p ip e w a s a lso in s ta lle d a t C o x to n
a n d 1 0 -in c h sta n d p ip e s a t M a n ch ester a n d L u m b er Y a r d .
A n e w b u lk h e a d a n d s te e l sh e d w ere c o n s tr u c te d a t P ie r 6 6 ,
N e w Y o r k C ity , th e to ta l c o st b e in g $ 1 0 ,4 0 1 .
E x t e n s iv e rep airs w ere m a d e to b u lk h e a d s a t th e J e rsey
C ity T e r m in a l, th e c a st a n d w e s t b o u n d fr e ig h t h o u se s a n d
c o a l sh ip p in g tr e s tle a t T ifft F a rm , a s w ell a s to th e coal
tr e s tle s a t N o r th F a ir H a v e n a n d C a n a sto ta .
A t w e n t y - t o n e le c tr ic a lly o p e r a te d fr e ig h t h a n d lin g cra n e _
w a s e re cte d a t A lle n to w n , d isp la c in g a h a n d cra n e o f sm a ll
c a p a c ity w h ic h w a s tra n sferred to P h illip s b u r g . A 1 0 0 -to n
tr a c k sc a le w a s in s ta lle d a t G e n e v a .
A n e w fr e ig h t s ta tio n w a s c rea ted a t H a m b u r g P la c e ,
N e w a r k , a n d th e d r iv e w a y s a t th e E a s to n f l i g h t s ta tio n
w e r e p a v e d w ith s to n e b lo c k s.
O n M arch 1 9 th P ier B , J e rsey C ity , w a s
e n tir e ly
d e s tr o y e d b y fire, e x c e p t a sm a ll fu e lin g p la n t on th e
e x tr e m e river e n d . T h e p r o p e r ty w a s fu lly c o v e r e d b y
in su r a n c e a n d p la n s h a v e b een p rep a red fo r t h e r e s to r a tio n
o f th e p ier.
T h e y e a r ’s b u sin e ss w a s c o n d u c te d w it h o u t a n y f a ta litie s
o c cu rr in g to th e 4 ,8 7 6 ,8 0 1 p a s se n g e r s ca rried . T h e n u m b er
o f a c c id e n ts to e m p lo y e e s sh o w s a v e r y g r a tify in g d e c re a se
a s c o m p a r ed w ith th e p r e v io u s t w e lv e m o n th s . T h is d o e s
n o t a p p ea r to b e d u e in a n y w a y to th e r e g u la tio n s p rescrib ed
b y th e v a r io u s R a ilro a d C o m m issio n s for c o n d u c tin g th e
b u sln o ss o f c o m m o n carriers, n or to th e a p p lic a tio n of a n y
o f th e s a fe ty -a p p lia n c e la w s, b u t rath er to tlie o p p o r tu n ity
to se c u r e a n d m a in ta in g r e a te r e ffic ie n c y a m o n g its e m p lo y e e s
b y reason of t h e large n u m b e r of m en s e e k in g w o rk a n d th e
d e sir e o f th o s e a lr e a d y e m p lo y e d to r e ta in th e ir p o s itio n s ,
a s w ell a s to th e r e la x a tio n o f th e stra in u n d er w h ich th eir

d u tie s w e re p e r fo rm e d d u rin g th e p r e v io u s fe w y e a r s , w h en
t h e v o lu m e o f b u sin e ss w a s e x c e p tio n a lly h e a v y .
5 3 .2 8 p er c e n t o f th e to ta l o p e r a tin g e x p e n s e s , in c lu d in g
o u ts id e o p e r a tio n s , or 8 1 2 ,2 9 7 ,9 1 9 5 1 , w a s p a id d ir ec t to
la b o r , b e in g d istr ib u te d a m o n g an a v e r a g e o f 2 0 ,7 3 1 e m ­
p lo y e e s d u rin g th e y e a r . T h e C o m p a n y ’s e m p lo y e e s g e n ­
e r a lly are r e c e iv in g r a te s o f w a g e s a s h ig h a s th o s e p a id
d u rin g th e tim e o f th e C o m p a n y ’s g r e a te s t p r o sp e r ity .
M r. H a m ilto n M cK . T w o m b ly resig n ed a s a D irecto r, a n d
Mr. P . A . B . W id en er w a s e le c te d to fill th e v a c a n c y .
M r. W . C. A ld e r so n , a fte r a s e r v ic e of 39 y e a r s w ith th e
C o m p a n y , resig n ed a s T r ea su rer, a n d M r. J . M. B a x te r
w a s p r o m o te d fro m th e o ffic e of A s s is ta n t T reasu rer to fill
th e v a c a n c y .
M r. H . J . M cQ u ad e w a s e le c te d A s s is ta n t
T rea su rer.
T h e B o a rd e x p r e s se s its a p p r e c ia tio n of th e lo y a l a n d
f a ith fu l s e r v ic e s ren d ered b y th e o ffice rs a n d e m p lo y e e s of
th e C o m p a n y d u rin g t h e y e a r .
B y ord er o f th e B o a r d of D ir e c to r s ,
E . B . TH O M AS,

D r.

$21,792,970 00 $21,792,970 00
B alance b ro u g h t forw ard, Ju ly 1 1909------- ------------------$19,212,252 00
C O M PA R A TIV E

B alance, Ju ly 1 1908.............. .........
D ividends:
5% on preferred sto ck , paid
Ju ly 11 1908_______________ $5,315
2% on com m on sto ck , paid
J u ly 11 1908— ------- ---------- 806.696
E x tra 1% on com m on sto ck ,
paid Ju ly 11 1908_________ 403.348
5% on preferred sto ck , paid
Ja n u a ry 9 1909.............. ........... 5,315
2% on com m on sto ck , paid
J a n u a ry 9 1909____________ 806.696
E x tra 1% on com m on sto ck ,
paid J a n u a ry 9 1909---------- 403.348

$16,516,904 84
00
00
00

00

ENDED

In crea se ( + ) or
D e c r e a s e (— ) .

( — ,74%>
— $636,021 82
— 13.491 1*

$11,482,719 68 $12,075,250 34

— $592,530 6*

O ther Incom e—
O utside operations:
W ater lin e s ..........
O ther o p eratio n s.
Inv estm en ts:

.
In te re st on b o nds— .
c
m ortgages
M iscellaneous .
T o tal o th e r Incom e— _

*150,019 20
*3,208 83

213,916 76
2,672 80

— 363,935 9*
— 5,941 63

436,772 56
42,814 48

555,840 13
48,914 75

— 119,067 57
— 6,130 27

15,604 13
362.677 20

17,034 12
790,041 03

— 1,429 09
— 428,263 83

$704,580 34

$1,629,349 59

— $924,760 25

.$12,187,300
T otal I n c o m e ............
D eductions from Incom e—
In te re st on funded d e b t- $3,544,060
in te re s t on equipm ent
tru s t obligations_____
245,902
R entals of leased lines
and g u a ra n tie s _______ 2,316,473
M iscellaneous deductions
237,061
A dditions a nd b e tte r­
582,613
m ents ______

00

02 $13,704,509 93 — $1,517,299 01
______
+ $8,000 00
00 $3,536,060 00
50

209,067 50

00
31

2,316,473 00
272,425 00

22

1,775,264 26

T o tal d e ductions_____$6,926,140 03

00

YEARS

R atio of operatin g expenses5
(62.83% )
(62.00% )
to operating revenues__
$12,562,005 01 $13,198.117 73
1.122.867 39
1,079,376 23

P R O F IT AN D LOSS ACCOUNT FO R T H E Y E A R E N D E D JU N E 30 1009
C r.

INCOM E ACCOUNT FO R T H E
JU N E 30 1908 AND 1909.

1908.
1009.
$33,137,832 21 $35,510,154 22 — $2,372,322 01
20,575.736 30 22,312,036 49 — 1,736,300 IS

President.

D r.

C r.

B r o u g h t f o r w a r d ................ ................................. $2,430,713 00 $16,510,904 84
D iscount on securities sold-----------------------150,000 00
14,905 ITM iscellaneous a d ju stm e n ts...............
N et income for y e a r ended Ju n e 30 1909,
T able N o. 1______________________
5,261,159 99
B alance, J u n e 30 1909------------------------------ 19,212,252 00

Net Incom e_____________

+ 36,835 0#
"

35,303" 78

— 1,192,621 04

$8,109,280 85 — $1,183,140 82

$5,261,159 00

$5,595,310 08

— $334,150 00

$2,430,718 00
Cr.

C O N D E N SED G E N E R A L BA LA N CE S H E E T , JU N E 30 1009.

Dr.

L IA B IL IT IE S .

A SSE T S.

Cost of R o a d ...........................................................................................^ a n ’nnn'nan 7 f
E q u i p m e n t.............................................................................- ............. V l
Securities O w ned—
, , , ,
Stocks of railroad a n d w ater lines included
in Lehigh Valley sy ste m — ....................... $29,289,161
Stocks of coal com panies---------- --------------,5o
Stocks of o th e r com panies------------------------ a ,693,448
Bonds of railro ad an d w ater lines included
In Lehigh Valley sy ste m ............................4,372,926
Bonds of o th e r co m p an ies----------------- ------ 3,234,906
C ertificates of Indebtedness, The Lehigh
V alley Coal C o m p a n y _________________ 10,537,000

'

20
™
00
00
87
00 ^

^

^

T reasu ry S to c k ------------ -------------------------------------------- - - - 250 00
____
G eneral Consolidated M ortgage Bonds of th e C om pany held
In its T re a su ry ------- ----------- -------------------------- 3,000,000 00
E qu ip m en t T ru st C ertitlcates of th e C om pany held in its
T reasu ry
________________ _____________________
3 ,5o0f000 00
G eneral C o n so lid ated 'M o rtg ag e Bonds of th e C om pany In
h an d s of T ru stee of W arrior R u n Stock Purchase B o n d s,.
100,000 00
M ortgages R e c e iv a b le -----------------------------------------------------310,000 00
C u rre n t A ssets—
, ._
__ . . , ,
..
Cash on deposit a n d In h an d s of T re a su re r. $7,234,140 03
Cash In tr a n s it- ............................... ..................
Cash In h an d s of officers a n d a g e n ts--------25,774 58
Cash fund derived from sale of bonds and
reserved for cap ital an d special expend!til res ________________________________
2,574,003 63
F reig h t a n d tic k e t a g e n ts’ balan ces--------770,361 48
T raffic balances due from o th e r co m panies.
484,918 14
Due from Individuals an d com panies.......... 3,124,938 33
.176,202 00
Bills receivable .................. ............. ....................
A dvances to o th e r c o m p a n ie s.------- ---------328,o34 50
M aterial a n d supplies on h a n d ----------------- 2,084,199 51
—------------------- 17,006,176 12
D eferred a n d Suspended A ssets—
S undry a cc o u n ts----------------------------------------------------------429.843 9.>

F unded D e b t---------------- ------------ ----------- -------- ---------------8« ’? i n ’nnn
E q u ip m en t T ru st O bligations-------- ----------------------------------- 8 ,
M ortgages on Real E s ta te ------------ -----------------------------------110,047
___
C urrent L iabilities—
R entals of leased lines d u e .......................—
$337,500 00
In te re s t on funded d e b t due an d unclaim ed
55,600 00
D ividends u n p a id .....................
4,213 00
Ju n e pay-roll, since p a id ----------------- -------- 1,011,440 ol
A udited vouchers. Including Ju n e bills,
since p a id .__________________ - ____ - ___ 1,218,136 9a
Traffic balances due to o th e r c o m p a n ie s.. . 1,073,840 15
Due to individuals and com panies.................
140,216 lo
7,-Oo
tu
U nclaim ed w a g e s ------------------Em ployees’ relief fu n d ......................... - ........................g 8 5 | t>98 38
In te re s t, R entals and Taxes A ccrued, N ot
In te re s t on funded d e b t — -------In te re s t on equipm ent tru s ts ...............
A ccrued ren tals, leased lines.........................
Taxes accru ed .......................................................

*72o’^nn n n
'2 ,0 0 0 00
421,08a 82
7 U .8 8 4 84

'

Deferred a nd Suspended L iabilities—
Sundry a c c o u n ts----------------------------------------------------------R eserves—
E quipm ent replacem ent reserve---------------- $1,382,511 78
G eneral re s e rv e s .................................................. 1,283,612 30

_

<
9#

547,33-1 .it
g

P rofit a nd Loss------- --------- -------------- -------------------------------

10,212,252 0*

T o tal L ia b ilitie s .........................................................................$157,714,593 0»

T o tal A s s e ts ................................................................................ $ 1 57,714,593 99
N o t e . — T he dividends declared p rio r to th e close of th e
a liability in th e above statem e n t.

806,696 shares com m on stock, p ar $50----- $40,334,800 00
2,126 shares preferred stock, p a r $50—
106,300 0 0 ^ ^ ^

fiscal y e ar, and payable Ju ly 10 1909, am o u n tin g to $1,215,359, arc n o t Included as

ST A T E M E N T O F E Q U IP M E N T T R U ST C E R T IF IC A T E S O U T ST A N D IN G .
P r in c ip a l.

L e h ig h V a lie v R a ilr o a d C o .

E q u ip m en t T ru st, Scries D, c ertificates-----------------------E q u ip m en t T ru st, Series G, ccrtllic a tes-----------------------E q u ip m en t T ru st, Series J , c ertificates----- -------- ----------

$300,000
200,000
4,250,000

In te r e s t.

D a te o f M a tu r i ty .

$300,000 an n u ally to March 1 1910
100.000 an n u ally to A ugust 1 1910
250.000 sem i-annually to S e p t. 1 1917

R a te .

4 % gold
4 V i % gold
4 Vi % gold

D ue.

Mar. a nd Sept.
Feb. a nd Aug
Mar. a nd S ept.

$4,750,000
----------------------- ---------------- ---------- ----- ——
ST A T E M E N T O F E Q U IP M E N T T R U S T C E R T IF IC A T E S H E L D IN T R E A S U R Y .
In te r e s t.
P r in c ip a l.

L e h ig h V a lle y R a ilr o a d C o .

E q u ip m en t T ru st, Series I, c ertllicates---------- -----------

D a te o f M a t u r i t u ■

$90,000 a nnually to F ebruary 1 1913
400,000 an n u ally to S ept. 1 1916

$380,000
3,200,000

R a te .

4% gold
4 % gold

D ue.

F eb. a nd A ug.
M ar. a nd Sept.

$3,560,000
-----

---------------------------------------------- ____-_______

-..............- .....

’I. _

SUM M ARY O F E Q U IP M E N T T R U S T O B LIG A TIO N S.
E q u ip m en t T ru st C ertificates O u ts ta n d in g ........................................................... ............................................... ......... - ..............
E q u ip m en t T ru st C ertificates H eld In T r e a s u ry ........................................ ----------- -------------------------- --------■ --­
T o tal Ju n e 30 1909------------------------------------------ - ------------------ - -------------- ----------------------------- -------------

[L eh ig h V a lley C oal C o. r e p o r t w ill b e fo u n d on a p r e v io u s p a g e u n d e r “ A n n u a l R e p o r t s .” ]




$4,750,000 0*
I 3,560,000 00

THE ATCHISON TOPEKA & SANTA FE RAILWAY COMPANY.

F O U R T E E N T H A N N U A L R E P O R T — F O R T H E F I S C A L Y E A R E N D I N G J U N E 30 1 9 0 9 .

Office of The Atchison Topeka cfe Santa Fe Railway System,
No. 5 Nassau Street, New York City.
September 9 1 9 0 9 .
To the Stockholders:
Y o u r D ir e c to r s s u b m it tlxe fo llo w in g r ep o rt fo r th e fiscal
y e a r J u ly 1 1 9 0 8 to J u n e 30 1 9 0 9 , in c lu s iv e .
T h e lin e s c o m p r isin g th e A tc h iso n S y s t e m , th e o p e r a tio n s
o f w h ic h are e m b r a c e d in t h e fo llo w in g s t a t e m e n t s , a re a s
fo llo w s:
30 1909.
A tchison T opeka & S a n ta Fe R a ilw a y ______ 7,438.30 miles
Rio G rande & El Paso R a i l r o a d _________
20.17 “
Gulf Colorado & S a n ta Fe R ailw ay _________1,518.18 “
E astern R ailw ay ol New Mexico__________ 227.29 “
Pecos do N o rth ern T exas R ailw ay ___________ 151.82 “
Pecos R iv e r R ailro a d _______ ______ - ..............
54.27 “
S anta Fe P resc o tt & Phoenix R ailw ay ______ 257.40 “
Southern K ansas R ailw ay ol T ex as. ............- 125.07 “
June

T o t a l ________ __________________________ 9,792.50 miles

30 1908.
7,081.45 miles
20.17 “
1,518.18 “
221.47 “
1.52.59 “
54.27 “
257.40 “
125.07 "
June

9,430.60 miles

In cr e a se d u rin g th e y e a r , 3 6 1 .9 0 m ile s.
T h e a v e r a g e m ile a g e o p e r a ted d u rin g th e fisca l y e a r e n d in g
J u n e 3 0 1909 w a s 9 ,7 9 4 .8 6 m ile s, b e in g a n in c r e a se of 3 7 9 .8 5
m ile s a s c o m p a r ed w ith th e a v e r a g e m ile a g e o p e r a te d d u rin g
t h e p r e c e d in g fiscal y e a r .
In a d d itio n to lin e s c o v er ed b y th is r e p o r t, th e r e w ere
c o m p le te d o n J u n e 3 0 1909 2 8 .1 5 m ile s of a d d itio n a l lin e , of
w h ic h 2 1 .3 1 m ile s w ere r ea d y for o p e r a tio n o n J u ly 1 190 9 .
T h e C o m p a n y a lso c o n tr o ls , th r o u g h o w n er sh ip o f sto c k
a n d b o n d s , o th e r lin e s a g g r e g a tin g 2 4 9 .4 1 m ile s, a n d is in te r ­
e s t e d j o in t ly w ith o th e r c o m p a n ie s in 5 5 8 .2 0 m ile s.
F o r d e ta ile d s t a t e m e n t of p r e se n t m ile a g e a n d of c h a n g e s
in m ile a g e sin c e la st A n n u a l R e p o r t, se e p a g e s 4 2 to 47
[p a m p h le t rep o rt],
IN C O M E S T A T E M E N T .
T h e fo llo w in g is a su m m a r y o f th e tr a n s a c tio n s o f th e
S y s t e m fo r th e y e a r s e n d in g J u n e 30 1 9 0 8 a n d 1909:
T o tal o p eratin g rev en u es_________
Incom e from o th e r so u rces......... ..

1908.
1909.
.
. .$90,617,796 .38 $94,205,710 87
..............
671,974 23
1,158,375 02

Incom e from all so u rces_________________$91,289,770 01 $95,424,091 89
Bxpenses, Including ta x e s, ren tals an d o th er
charges ___ ______ _______ __________ _ 65,031,582 67 61,458,019 13
$26,258,187 04 $33,900,072 70
Fixed charges, Including accrued Interest on
A dju stm en t B onds___ ______ ___________ 12,579,301 77 13,548,081 93
B a la n c o ...................- ............._ _ _ ..................... $13,678,886 17 $20,417,990 83
From th e n e t Income fo r th o y e ar tho following sum s have
been ded u cted :
D iv id e n d s o n P r e fe r r e d S to c k —
No. 21 (2 H % ) paid F eb . 1
1909 ___________________ $2,854,345 00
N o. 22 (2 H % ) paid A*g. 2
1909 .................................. .. 2,854,345 00
$5,708,690 00
D iv id e n d s o n C o m m o n S to c k —
No. 16 (2M % ) paid Deo. 1
1908 ________ _____ _____ $2,573,912 50
No. 17 ( 2 M % ) p aid Ju n e 1
1909 ___________________ 2,578,037 50
5,152,550 00
A ppropriation for Fuel Reserve F u n d ______
158,230 11
.4 p p r o p r i a t e d f o r A d d i t i o n s a n d B e t t e r m e n t s —
Expended d u rin g y e a r_____$4,000,000 00
R eserved for fu tu re expen­
d itu res _________________ 5,000,000 00
9,000,000 00

90,253 08

1.930,135 48

Common
Preferred.

$102,956,500
114,173,730

Issued d u ring th e year:
Com m on S tock Issued In exchange fo r C onvertible B onds
re tired ........................... ..............................................

18,603,000

C apital S tock o u tsta n d in g Ju n e 30 1909:
C o m m o n --------------------------------------- -------- ------ $121,559,500
P referre d ___________________________________ 114,173,730
---------------- $235,733,230

T h e o u ts ta n d in g F u n d e d D e b t o f t h e S y s te m (d e d u c tin g
b o n d s in tr e a su r y ) a m o u n te d o n J u n e 30 190 8 to $ 3 1 5 ,4 5 4 ,4 2 0 .
T h e fo llo w in g c h a n g e s in th e F u n d e d D e b t o c cu rr ed d u rin g
th e yea r:
O bligations Issued:
T ran sc o n tin e n tal Short Line F irst M ortgage 4% B onds___ $17,000,000
O bligations P urchased or R etired:
Serial D ebenture 4% Bonds, Series G __________ $2,499,000
Serial D ebenture 4% B onds, Series H __________
100,000
C onvertible 4 % B onds......................
14,647,000
C onvertible 5% B onds________________________ 3,956,000
M iscellaneous D ivisional B onds_______
33,600
---------------- 21,235,600
Decrease of F unded D e b t....................... ............................................ _

$4,235,600

T o tal S ystem F unded D ebt o u tsta n d in g J u n e 30 1909______$311,218.82

I n t e r e s t ch a r g es fo r th e y e a r e n d in g J u n e 30 1910 (in ­
c lu d in g in te r e s t o n $ 2 8 ,2 5 8 ,0 0 0 o f th is C o m p a n y ’s C o n v e r t­
ib le 4 % B o n d s o f 1909 issu ed a fte r J u n e 30 1909) w ill b e
a p p r o x im a te ly $ 1 3 ,7 4 2 ,2 1 8 , or a n a v e r a g e m o n th ly c h a r g e
o f a b o u t $ 1 ,1 4 5 ,1 8 5 .
C A P IT A L

E X P E N D IT U R E S A N D R E D U C T IO N O F
BOOK VA LU ES.
T h e e x p e n d itu r e s d u rin g t h e fiscal y e a r c h a r g e a b le to
C a p ita l A c c o u n t for t h e c o n s tr u c tio n a n d a c q u is itio n o f a d d i­
tio n a l r a ilw a y s , e q u ip m e n t a n d o th e r p r o p e r tie s a n d fo r
a d d itio n s a n d b e tte r m e n ts , a m o u n te d in th e a g g r e g a te to
$ 5 ,8 5 5 ,4 8 3 5 1 .
T h e se e x p e n d itu r e s m a y b e su m m a r iz e d a s fo llo w s:

$398,520 72

18,422,730 02

$1,023,596 91
R ig h t of W ay, S ta tio n G rounds and R eal E s ta te ....... .............
339.949 78
W idening C uts an d Fills, Including P rotection of B an k s----195,668 49
G rade R evisions an d Changes of L ine....... ................
618,137 81
B ridges, T restles and C ulverts___ _______________________
419,907 06
B allast, Including cost of spreading an d p u ttin g u n d e r tra c k
327,185 36
802,023 81
A dditional Main T rac k s______________________
Sidings an d S p u r T ra c k s__________________________
586,171 80
T erm inal Y a rd s_____________________________
579,235 81
T rack E lev atio n , E lim ination of G rade Crossings an d Im ­
provem ents of O ver and U nder G rado Crossings________
87,048 73
Interlo ck in g , Block an d O th er Signal A p p a ra tu s __________
90,851 89
Buildings and S hops_________
.
_ _ 899,446 95
Shop M achinery an d Tools....... ..........................................C r.2 4 ,8 0 8 08
E q u ip m e n t___ ______ ______________________________ c r . 1,826,012 70
B etterm en ts to E q u ip m en t______________________________
757.098 94
O ther A dditions a n d B ette rm e n ts_______________
167,568 50
E u e lL a n d s _____________________________________
933,500 00
M iscellaneous Ite m s ___________________________________ C r. 121,087 54

Surplus to credit of P rofit an d Loss Ju n e 30 1909.................$18,821,250 74

I n c o m e fro m so u r c e s o th e r th a n ea rn in g s fr o m o p e r a tio n
c o n siste d o f in te r e s t on c a sh in b a n k s a n d su m s c o lle c te d
a s in te r e s t a n d d iv id e n d s u p o n b o n d s a n d s to c k s o f c o m p a n ie s
th e o p e r a tio n s o f w h ic h are n o t in c lu d e d in th e S y s te m
a c c o u n ts .
D u rin g th e fisca l y e a r th e su m o f $ 2 1 6 ,3 8 4 0 0 , r e p r e se n tin g
$ 5 6 ,0 6 7 91 ca sh r ec eiv e d fro m a n d $ 1 6 0 ,3 1 6 09 b a la n c e s d u e
o n la n d sa le s c o n tr a c ts c o v e r in g la n d s e m b r a ce d in th e S a n ta
F e P a cific L a n d G ra n t, w a s d ir e c tly w r itte n off th e b o o k v a lu e
o f R a ilr o a d s, F r a n c h is e s a n d O th er P r o p e r ty , a n d th e tr a n s­
a c tio n d o e s n o t a p p ea r in th e I n c o m e A c c o u n t.
F or m a n y y e a r s it h a s b e e n th e C o m p a n y 's p o lic y to m a k e
o u t o f in c o m e la rg e e x p e n d itu r e s for a d d itio n s a n d b e tte r ­
m e n ts . A t tim e s su ch e x p e n d itu r e s h a v e b e e n m a d e w ith o u t
th e b o o k s s h o w in g a n y a d d itio n on th a t a c c o u n t to th e c o st of
p r o p e r ty , su c h e x p e n d itu r e s b e in g “ w r itte n o f f .” R u le s p ro­
m u lg a te d b y t h e I n te r -S ta te C om m erce C o m m issio n req u ire
th a t fo r th e e n su in g fiscal y e a r su ch e x p e n d itu r e s o u t o f in ­
c o m e sh a ll n o t b e “ w r itte n o f f ,” b u t sh a ll b e a d d e d to th e c o s t
'if p r o p e r ty , a n d t h a t a p p r o p r ia te e n tr ie s sh a ll b e m a d e on
th o lia b ility sid e o f th e B a la n c e S h e e t to sh o w su c h e x p e n d i­
tu r e s, a n d to sh o w a lso a n y u n e x p e n d e d a p p r o p r ia tio n s fro m




$217,130,239

T o ta l............ ............................................ .......................... ............... $1,040,152 48
D e d u c tio n s —
A tchison T opeka & S a n ta F e R y ____________ $14,085 91
A rizona & California R y -------------------------------- 1,625 91
Gulf B eaum ont & K ansas C ity R y ------- -------- 843 75
---------------16,555 57

$2,029,388 56
A dditions to Profit an d Loss
A ccount—n e t ______

C A P IT A L ST O C K A N D F U N D E D D E B T .
T h e o u ts ta n d in g C a p ita l S to c k (d e d u c tin g s to c k in tr e a s­
u r y ) o n J u n e 3 0 190 8 c o n s is te d of:

C onstruction a nd acquisition of new m ileage, Including th e acquisition
of bonds a nd stocks of o th e r railw ay com panies:
E astern R y. of New M exico________________________ ___ $591,304 18
G rand C anyon R y _______________________________________
2,954 01
Ja s p e r & E a ste rn R y .......................................................... ...........
13,817 17
.Sunset W estern R y .................................. .......................................
124,742 80
T exas & Gulf R y ___________ _____ ______ _____ _________
307,334 32

20,019,470 11
Surplus carried to P ro llt an d L o s s ...------------------ --------Surplus to cred it of P rofit & Loss Ju n e 30 1908$20,352,865 50
A m ount w ritten off pro p erty
accounts In respect
resp ect of e x ­
p enses
an d d iscount on
bond sales________________ $1,487,500 00
G rade Revision W brk— A ban­
doned Lino......................... ..
541,888 56

in c o m e s e t a s id e fo r s u c h e x p e n d itu r e s in th e fu tu r e .
Y our
B o a r d lia s c o n c lu d e d t h a t i t is w ise fo r th e fiscal y e a r ju s t
c lo sed to a d o p t a sim ila r m e th o d . T h e r efo r e th e su m o f
$ 9 ,0 0 0 ,0 0 0 o f th e in c o m e fo r th e y e a r h a s b e e n a p p r o p r ia te d
for a d d itio n s a n d b e tte r m e n ts , $ 4 ,0 0 0 ,0 0 0 b e in g e x p e n d e d
d u rin g t h e y e a r a n d th e r e m a in in g $ 5 ,0 0 0 ,0 0 0 b e in g r e ser v ed
to b e e x p e n d e d in t h e f u tu r e .

D e d u c tio n —
S an ta F c Pacific L ands sold___________________ ___________

$5,855,483 51
216,384 00

N e t Increase In C apital A ccount d u ring th e y e a r (See
E xhibits B and C )_____________________ ______ ______ $8,639,099 51

T h e c r e d it o f $ 1 ,8 2 6 ,0 1 2 7 0 , o n a c c o u n t o f e q u ip m e n t, is
e x p la in e d a s fo llo w s:
D uring th e y e a r eq u ip m e n t form erly purchased a nd charged
to A dditions a n d B etterm en ts was credited to A dditions
and B etterm en ts an d charged to E qu ip m en t R eplacem ent
R eserve, as s ta te d on page 12, to the am o u n t o f--------------- $2,278,192 37
T h ere w ere charges to A dditions a nd B etterm en ts on acco u n t
of ad d itio n al equipm ent purchased during th e y e a r and p a y ­
m ents m ade for eq u ip m en t received d u ring prior years as
follows:
L o c o m o tiv e s ------- ------------------------------$111 34
5 P assenger-train c ars------------------------------ 85,631 61
250 F reig h t-tra in c ars--------------------------------- 354,697 68
1 M iscellaneous c a r-----------------11,739 04
---------------452,179 67
N et c re d it to A dditions an d B etterm en ts w ith respect to such
e q u ip m e n t_____________________________________________ $1,826,012 70

M A IN T E N A N C E O F E Q U IP M E N T .
T h e fo llo w in g s t a t e m e n t sh o w s t h e s u m s c h a r g ed t®
O p e r a tin g E x p e n s e s fo r M a in ten a n c e o f E q u ip m e n t d u rin g
e a c h y e a r sin c e J u ly 1 1896:

Y e a r e n d in g

A v e r a g e O p e r a te d

M ile a g e .
J u n e 80—
1897__________
1898__________ _________ 6,936.02
189 9 -................... .............. --7 ,0 3 2 .6 2
1900...................- ................ 7,341.34
1901 - ................... ________ 7,807.31
1 9 0 2 --. ______ _________ 7,855.38
1903..................... _________ 7,965.13
1904..................... _________ 8,179.59
1905__________ ________ 8,305 40
1906__________ _________ 8,433.99
1907__________ _________ 9,273.15
1908__________ _________ 9,415.01
1909__________ _________ 9,794.86

T o ta l
E x p e n d itu r e .

$3,443,884
4,659,277
4,810,795
5,267,832
6,257,456
7,864,951
8,510,543
10,006,135
10,914,864
10,720,040
11,779,846
14,246,621
13,903,897

82
09
64
40
57
25
09
41
47
43
64
44
37

E x p e n d itu r e
P e r M ile .

$534
671
684
717
801
1,001
1,068
1,223
1,314
1,271
1,270
1,513
1,419

45
75
07
56
49
22
48
31
19
05
32
18
51

F o r th e y e a r e n d in g J u n e 3 0 190 9 m a in te n a n c e c h a r g es,
in c lu d in g r en ew a ls a n d d e p r e c ia tio n , a v e r a g e d a s fo llo w s:
Per
Per
Per
P er
P er
Per

locom otive ____________________________________________ $3,132 76
locom otive m ile____________________ _____ _______________
i i 95
passenger car, Including m all a n d ex p ress-------------------------- 1,134 00
passenger car m ile----------------------------------- ----------------------freig h t c a r _____________________________________________
*20 41
freig h t c ar m ile___________________ _____ ________________
.0111

T h e fo r e g o in g a v e r a g e m a in te n a n c e c h a r g e s in c lu d e a
p r o p o r tio n o f u n lo c a te d e x p e n d itu r e s fo r M a in te n a n c e of
E q u ip m e n t c h a r g ed to S u p e r in te n d e n c e , S h o p M a ch in ery
a n d T o o ls , In ju r ie s to P e r so n s, S ta tio n e r y a n d P r in tin g ,
O th er E x p e n s e s a n d M a in ta in in g J o in t E q u ip m e n t a t T er­
m in a ls .
T he a m o u n t to th e cre d it of th e E q u ip m en t R eplacem ent
R eserve Ju n e 30 1008, as show n In th e la st A nnual R ep o rt,
w a s ____________
$234,066 01

T h e fo llo w in g su m s w e re c re d ited to th e re­
s e r v e d u rin g th e y ear:
E stim a te d depreciation a c c ru e d -_________________$2,214,243 70
R enew al ch arg es_________
279,212 13
S alv ag e___________
202,403 59
Cash collected fo r eq u ip m en t sold an d e q u ip ­
m en t destro y ed on foreign lines, Including
Insurance c o lle ctio n s--......................
130,530 00
------------------- 2,826,389 42
M aking a to ta l reserve av ailab le for th e acq u isitio n of new
e q u ip m e n t_________________________________________________$3,060,455 43

T h e to n s of fr e ig h t ca rried o n e m ile (r e v e n u e a n d c o m ­
p a n y ) d e c re a se d 3 1 ,5 9 1 ,9 9 7 , or .41 p e r c e n t, w h ile fr e ig h t-c a r
m ile a g e (lo a d e d a n d e m p ty ) in c re a se d 8 ,7 4 7 ,4 6 5 , or 1 .5 0 p er
c e n t, a n d fr e ig h t-tr a in m ile a g e (fr e ig h t a n d m ix e d ) d e c re a se d
7 4 6 ,4 3 0 , or 3 .4 2 p er c e n t.
T h e n u m b e r o f p a sse n g e r s carried o n e m ile in c r e a se d
7 9 ,2 2 4 ,4 2 9 , or 7 .7 0 p er c e n t, w h ile p a sse n g e r -c a r m ile a g e in ­
c rea sed 2 ,9 4 9 ,2 1 5 , or 2 .6 6 p er c e n t, a n d th e p a s se n g e r -tr a in
m ile a g e (p a sse n g e r a n d m ix e d ) in c re a se d 1 9 7 ,0 4 1 , or 1 .0 6
p e r c e n t.
,
T h e fo llo w in g is a c o n so lid a te d s t a t e m e n t o f th e b u sin e ss
of th e S y s te m for e a ch fiscal y e a r d u rin g t h e p e r io d s in c e
J a n u a r y 1 1896:

F is c a l Y e a r
E n d in g
J u n e 30.

27 Locom otives ____________ '- - ......................
582,847 29
1,300 F reig h t-tra in c a rs ......... ................................... 1,695,345 08
------------------- 2,878,837 98
L eaving u n expended b alan ce to th e cre d it of th e E q u ip m en t
R ep lacem en t reserve J u n e 30 1909-------------------------------- $181,617 4 5

A s t a t e m e n t o f th e lo c o m o tiv e s in s e r v ic e a n d o f th e ir
t r a c t iv e p o w er w ill b e fo u n d o n p a g e 41 [p a m p h le t rep o rt].
M A IN T E N A N C E O F W A Y A N D S T R U C T U R E S .
T h e fo llo w in g s t a t e m e n t sh o w s th e s u m s c h a r g e d to O per­
a tin g E x p e n s e s fo r M a in ten a n c e o f W a y a n d S tr u c tu r e s
d u rin g e a ch y e a r sin c e J u ly 1 1896:
A v e r a g e O p e r a te d
M ile a g e .

_________ 6,443.81
1897________
_________ 6,936.02
1898________
1899________ ___________ 7,032.62
___________ 7,341.34
1900___ .
1nm
1902________ ____ _____ .7,855.38
_______ 7,965.13
1903________
_______8,179.59
1904________
_______8,305.40
1905________
1 9 0 6 . . . ____ .......................8,433.89
1907________ ____ ______ 9,273.15
1 9 0 8 ._ ............ ___________ 9,415.01
1909________ .............. ........ 9,794.86

T o ta l
E x p e n d itu r e .

$6,282,023
8,281,397
7,672,107
6,354,372
6,433,840
6,141,466
9,304,892
9,170,234
11,385,418
12,475,407
15,286,062
14,120,828
12,884,406

15
88
62
10
36
39
04
07
33
07
66
02
81

E x p e n d itu r e
P e r M ile .

$975
t , 193
1,090
865
824
781
1,168
1,121
1,370
1,470
1,048
1,499
1,315

03
97
93
56
08
82
20
11
85
18
42
82
43

C O M P A R IS O N O F O P E R A T I N G R E S U L T S .
T h e fo llo w in g is a s t a t e m e n t o f r e v e n u e s a n d e x p e n s e s of
th e S y s t e m fo r th e fiscal y e a r e n d in g J u n e 30 1 9 0 9 , in c o m ­
p a r iso n w ith th e p r e v io u s year:

E xpenses,
I n c lu d in g
T axes,
R e n ta ls a n d
O th e r
C h a rg es.

In te r e s t o n
B onds.

N et
R evenue.

$30,038,455
30,513,553
29,332.064
29,414,427
34,502,039
36,272,432
40,635,576
44,641,434
47,835,883
51,035,355
61,779,916
65,031,582
61,458,019

$8,440,387
7,045,988
7,241,072
7,345,166
7,830,810
8,438,085
9,134,485
9,418,770
9,611,510
10,622,184
11,487,934
12,579,301
13,548,081

$53,785
1,836,584
4,187,997
0,739,304
12,474,529
15,564,526
13,898,329
15,359,771
11,742,340
17,733,209
21,168,723
13,678,886
20,417,900

T h e fo llo w in g s t a t e m e n t sh o w s th e g r o ss o p e r a tin g r e v e ­
n u e s of th e S y s te m L in e s (e x c lu s iv e o f in c o m e fro m o th e r
so u rc e s) p er m ile o f r o a d o p e r a te d fo r e a c h fiscal y e a r sin c e
J u ly 1 1890:
Y e a r E n d in g J u n e

$600,303 00
342 61

A d d c o st o f e q u ip m e n t p u rc h a sed
a n d c h a r g ed to A d d itio n s a n d B e t t e r ­
m e n ts d u rin g p rior y e a r s , n o w a p p lie d
in r e d u c tio n o f th e r e p la c e m e n t re­
serv e:

Y e a r E n d in g
J u n e 30—

G ross
R evenues,
In c lu d in g
In co m e fro m
O th e r
Sources.

1897 (18
m o s .) .- . 6,443
$44,532,628
1898 ____ 6,936
39,390,126
1899 _____ 7,032
40,762,933
1900 .......... 7,341
46,498,899
7,807
1901
___________
54,807,379
60,275,944
1902 _____ 7,855
63,608,390
1903 _____ 7,965
69,419,075
1904 ____ 8,179
69,189,739
1905 .......... 8,305
70,390,749
1906 ____ 8,433
94,430,574
1907 _____ 9,273
91,289,770
1908 ____ 9,415
05,424,091
1909 _____ 0,794

T h e fo llo w in g e q u ip m e n t w a s a c q u ir e d d u rin g
th e y e a r b y th e u s e o f th is r e p la c e m e n t reserve:
601 F re ig h t tra in c a r s ---------------------------------1 M iscellaneous c a r---------- --------------------------

A verage
M ile s
O per­
a te d .

30.

1897 .............. ................................. ........
1898 ..........................................................
1899 .............................................................
1900 ____ - _________ _________ _____
1 9 0 1 ______________ _________ _____
1902 __ _____ _______ _______ ______
1903 _____________________________
1904 ............ - ............................ .................
1905 ______________________ _____ _
1906 ______________________________
1907 _____________ _________
1908 _________ _______ ________ - - 1909 - ------- ------------------------------------

G ro ss O p e r a tin g
R evenues.

$30,621,230
39,214,099
40,513,488
46,232,078
54,474,822
59,135,085
62,350,397
68,171,200
68,375,837
78,044,347
93,683,406
00,017,796
94,265,716

1024
63
23
61
53
28
18
25
25
91
38
87

A verage per
M il e o[ R o a d .

54,752
5,653
5,760
6,297
6,977
7,527
7,827
8,334
8,232
9,253
10,102
9,624
0,624

04
60
80
49
41
97
92
31
70
55
65
82
00

T h e fo llo w in g s t a t e m e n t sh o w s th e d e v e lo p m e n t of th e
fr e ig h t a n d p a sse n g e r r e v e n u e s o f th e S y s te m sin c e J u ly 1
1890:
Y e a r E n d in g J u n e

1897
1898
1890
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909

30.

............................................................
................ _____________________
__________ ___________________ !
................ - ...........- ............... .............
- ............................................. .............
.................. - ................................... ..
___________ __________________
_____________ _______ ________
_________ _______ _____________
_____ ______ _________________
______________ ________ ____ _ _
_______________________ ______
______________ ______ ______

P assenger
R evenue.

F r e ig h t
R evenue.

$22,067,686
28,588,710
29,492,586
33,729,332
39,052,557
41,815,607
44,622,438
47,762,653
47,408,982
54,598,902
65,500,309
61,848,638
64,212,638

77
76
65
83
43
05
71
23
36
82
42
51
10

$5,574,288
7,347,361
8,126,141
9,334,661
11,678,017
13,430,384
13,409,985
15.433,773
16,045,380
18,013,938
21,171,029
21,643,427
22,731,505

31
59
85
57
25
57
78
03
27
56
08
49
32

TR EA SU R Y .

N e ith e r th is C o m p a n y n or a n y o f it s a u x ilia r ie s h a s a n y
n o te s or b ills o u ts ta n d in g .
T h e C o m p a n y h e ld in it s tr e a su r y o n J u n e 30 1 909 $ 3 0 ,­
0 3 6 ,5 0 4 83 c a sh , a n d h a d a v a ila b le o v e r $ 3 ,7 0 5 ,0 0 0 G en eral
Y e a r E n d in g
Y e a r E n d in g
In cre a se (+ )
M ortg a g e B o n d s , in c lu d in g b o n d s n o t y e t certified b y th e
J u n e 30 1909. J u n e 30 1908 . o r D e c r e a s e d — )
O p e r a tin g R e v e n u e s —
$
$
$
T r u ste e . T h e C o m p a n y a lso h a s in th e tr ea su ry u n p le d g e d a
F reig h t ____________________ 64,212,638 10 01,848,638 51 +2,3 63,999 50
la rg e a m o u n t o f s to c k s a n d b o n d s of o th e r c o m p a n ie s of w h ic h
P assenger____ ____________ 22,734,505 32 21,043,427 49 + 1 ,0 91,077 83
Mail, Express an d M isccllaneous7,318,573 45 7,125,730 38
+ 192,843 07 p a r t is carried in th e b a la n c e s h e e t a s I n v e s t m e n t s a n d p a r t
T o tal O p eratin g R e v e n u e s.-94,205.716 87 90,617,796 38 + 3 ,647,920 49 is in c lu d e d u n d e r R a ilr o a d s, F r a n c h is e s a n d O th er P r o p e r t y .
In a d d itio n to th e c a sh in th e tr ea su ry a t th e c lo se o f th e
O p e r a tin g E x p e n s e s —
y e a r it w a s e v id e n t th a t fu r th e r la rg e su m s w o u ld b e req u ired
M aintenance of W ay an d S tru c ­
tures __________ _
___ 12,884,406 81 14,120,828 02 — 1,236,421 21
for th e e x te n s io n s a n d im p r o v e m e n ts c o n te m p la te d in th e
M aintenance of E q u lp m cn t_ --1 3 ,9 0 3 ,8 9 7 37 14,240,621 44
— 342,724 07
T raffic E x p en ses_____________ 1,901,822 11 1,790,263 88
+ 108,558 23 n ear fu tu re; th erefo re y o u r D ir ec to rs v o te d on J u n e 2 1909
T ran sp o rta tio n Expenses_____ 20,674,863 83 28,395,589 60 — 1,720,725 77 to offer to sto c k h o ld e r s th e r ig h t to su b scr ib e to F o u r P er
G eneral E x p en ses____________ 2,127,205 07 2,070,612 27
+ 56,592 80
C en t C o n v er tib le G old B o n d s , I s su e o f 1 9 0 9 , a t 104 a n d in te r ­
T otal O perating E x p e n s e s .-57,495,195 19 60,629,915 21 — 3,134,720 02 e s t, to th e a m o u n t of 12 p er c e n t o f th e ir h o ld in g s.
N o t o n ly
d id p r a c tic a lly a ll th e s to c k h o ld e r s e x e r c ise th e ir r ig h t, b u t
N et O p eratin g R ev en u e______36,770,521 68 29,987,881 17 + 0,782,640 51
m a n y o u ts ta n d in g C o n v er tib le B o n d s w e re e x c h a n g e d fo r
R atio of O p eratin g Expenses
to O perating R ev en u es____
60.99
66.91
— 5.92
T he O perating Expense figures for th e fiscal y e a r ending Ju n e 30 1908, sto c k for th e p u rp o se o f a c q u ir in g su b s c r ip tio n r ig h ts .
used for co m p arativ e purposes, are n o t th e sam e as shown In th e la st T h e se e x c h a n g e s o f b o n d s h a v e c h a n g e d th e c o m p le x io n of
A nnual R ep o rt, b u t a re revised In accordance w ith th e S u p p lem ent to the y o u r c a p ita l o b lig a tio n s b y e x tin g u is h in g a la rg e a m o u n t o f
T hird Revised Classification of O perating Expenses as prescribed by the
th e C o n v er tib le B o n d s th e r e to fo r e o u ts ta n d in g a n d co rre­
In te r-S ta te Commerce Com m ission, effective J u ly 1 1908.
T h e fo llo w in g a v e r a g e s a re d e d u c te d fr o m t a h lc s s e t fo r th s p o n d in g ly in c r e a sin g th e o u ts ta n d in g c o m m o n s t o c k .
T h e C o n v e r tib le B o n d s o f th e n ew issu e su b scr ib ed a n d
o n p a g e s 3 6 a n d 39 [p a m p h le t rep o rt].
T h e a v e r a g e to n s of fr e ig h t p er lo a d e d car m ile d e c re a se d to b e d e liv e r e d u n d er te rm s o u tlin e d a b o v e , a m o u n t to
$ 2 8 ,2 5 8 ,0 0 0 .
fr o m 1 8 .6 8 to 1 8 .3 5 , or 1 .7 7 p er c e n t.
- -• T h e a v e r a g e to n s o f fr e ig h t c a rried p er fr e ig h t-tr a in m ile
FUEL RESERVE FU N D .
in c r e a se d fro m 3 5 4 .9 7 to 3 6 6 .0 6 , or 3 .1 2 p er c e n t.
T h e a v e r a g e fr e ig h t r e v e n u e p er fr e ig h t-tr a in m ile in ­
T h e F u n d h a s b e e n in crea sed b y p ro fits d e r iv e d from
c re a se d fr o m $2 84 to $3 0 5 , or 7 .3 9 p er c e n t.
c e r ta in fu e l p r o p e r tie s.
T h e a v e r a g e p a sse n g e r r e v e n u e p er p a s se n g e r -tr a in m ile A m ount to cred it of F u n d J u n e 30 1908_____________________ £?
A dded during th e y e a r________________________ ________ ____ 158,249 95
in c re a se d fro m $1 17 to $1 2 1 , or 3 .4 2 p er c e n t .
T h e a v e r a g e p a s se n g e r -tr a in r e v e n u e p er p a s se n g e r -tr a in
In F u n d Ju n e 30 1909........................................................................ $313,676 85
m ile in c re a se d fr o m $1 46 to $1 5 2 , or 4 11 p e r c e n t.




O n J u n e JO 1909 th e r e r em a in e d in th e tr e a su r y o f th e
C h ero k ee & P itts b u r g C oal & M in in g C o m p a n y a n u n e x ­
p e n d ed su r p lu s a m o u n tin g to § 2 5 9 ,2 0 2 8 9 , so t h a t th e to ta l
a m o u n t a v a ila b le for r e p la c e m e n t o f fu e l p r o p e r tie s in w h ic h
y o u r C o m p a n y is in te r e s te d is § 5 7 2 ,8 7 9 7 4 .
N E W C O N S T R U C T IO N .
In th e la s t rep o rt it w a s in d ic a te d th a t w h ile p u b lic o p in io n
se e m e d to be c h a n g in g , a n d th e r e w a s r ea so n to h o p e th a t th e
h a r a ssin g o f ra ilro a d s h a d rea ch ed its c lim a x , y o u r D ir ec to rs
d id n o t d e e m it w ise to p ro ceed to fu r th e r d e v e lo p m e n t of th e
te r r ito r y tr ib u ta r y to y o u r lin e s u n til th e r e a c tio n sh o u ld
b e c o m e m o re a p p a r e n t. T h e S t a t e m o s t in n e e d of d e v e lo p ­
m e n t w a s T e x a s , a n d w ith b u t o n e e x c e p tio n it s la w s a n d th e
a d m in is tr a tio n th e r eo f h a v e b een th e m o s t se v e r e a n d u n ju st;
b u t in th e la s t tw o y e a r s th e r e h a s b e e n a m a rk ed c h a n g e in
s e n t im e n t , e v id e n c e d b y th e fa c t th a t th e la s t se ss io n of th e
T e x a s L e g isla tu re r esisted p r a c tic a lly all e ffo r ts to c o m m it th e
S t a t e to fu r th e r r a d ica l le g is la tio n . T h e r e are still la w s
a ffe c tin g ra ilro a d s on th e s t a t u t e b o o k s o f T e x a s w h ic h are
n o t g o o d for e ith e r th e S t a t e or th e ra ilro a d s, b u t it is h o p ed
th a t th e s e la w s w ill g r a d u a lly d isa p p e a r a s th e ir u n fa ir n e ss
a n d in ju r io u s c h a r a cte r b e c o m e in c r e a sin g ly a p p a r e n t.
A c tin g o n th is h o p e, a n d in v ie w o f th e c r y in g n e e d s o f W e st
T e x a s , y o u r D ir ec to rs h a v e a u th o r iz e d t h e e x p e n d itu r e
n e c e s sa r y to c o n str u c t a m a in lin e c o n n e c tin g th e G u lf C olo­
ra d o <fc S a n ta F e R a ilw a y a t C o lem a n w ith th e E a s te r n R a il­
w a y o f N e w M ex ico a t T c x ic o , w ith su n d r y b r a n c h e s— a to ta l
o f a b o u t 5 0 0 m ile s— a n d h a v e th u s a rra n g ed to su p p ly th e
n e e d s o f a v a s t te rr ito r y w h ic h h a s b e e n h e r eto fo r e is o la te d
a n d w h ic h w ill b e e n o r m o u sly b e n e fited b y th is in v e s t m e n t .
In t a k in g th is a c tio n , y o u r D ir ec to rs a re r e ly in g on th e u lt i­
m a te g o o d se n s e o f th e p e o p le o f T e x a s a n d b e lie v e th a t i t is
r e a s o n a b le to e x p e c t th a t th e p e o p le w h o se p r o p e r ty is en o r­
m o u s ly b e n e fite d , a n d w h o se c o n v e n ie n c e is g r e a tly p r o m o te d
b y th is in v e s t m e n t , w ill e x e r t e v e r y e ffo r t to se e t h a t it re­
c e iv e s fa ir tr e a tm e n t a t t h e h a n d s o f th e ir la w -m a k e r s .
A R IZ O N A & C A L I F O R N I A R A I L W A Y .
T h is r o a d , e x te n d in g fr o m W ic k e n b u r g , A r izo n a , to
P a rk er , A r izo n a , a p o in t on th e C olorad o R iv e r , h a s b e e n
c o m p le te d , in c lu d in g th e b r id g e o v e r th e r iv er, a n d w a s
o p e n e d fo r tr a ffic o n F e b r u a r y 1 19 0 9 , a n d th e c o m p le tio n
o f th is lin e fro m th e w e s t b a n k o f th e C olorad o R iv e r to a
ju n c tio n w ith th e m a in lin e a t or n e a r B e n g a l, C a lifo rn ia , h a s
b e e n a u th o r iz e d b y y o u r D ir ec to rs.
S U N S E T W E S T E R N R A IL W A Y .
A n e x te n s io n o f th e S u n s e t R a ilr o a d fr o m P e n tla n d to
F e llo w , K ern C o u n ty , C a lifo rn ia , to r ea ch t h e M id w a y Oil
F ield h a s b e e n c o n s tr u c te d j o in t ly w ith th e S o u th e r n I’a cfic
C o m p a n y u n d e r th e c h a r ter of th e S u n s e t W e ste r n R a ilw a y
C o m p a n y . T h e e x te n s io n is 1 4 .9 m ile s in le n g th a n d w a s
c o m p le te d a n d o p e n e d for tr a ffic J a n u a r y 1 1 9 0 9 .
T E X A S & G U L F R A IL W A Y .
T h e e x te n s io n of th is lin e from Z u b er, T e x a s , to a c o n ­
n e c tio n w ith th e G u lf B e a u m o n t & G reat N o r th e r n R a ilw a y
a t C en ter, T e x a s , a d is ta n c e o f 2 1 .3 1 m ile s, h a s b e e n c o m ­
p le te d , a n d th e r e is n o w (in c o n n e c tio n w ith th e G u lf &
I n t e r - S t a t e R a ilw a y ) a c o n tin u o u s lin e in E a s t T e x a s b e tw e e n
G a lv e sto n a n d L o n g v ie w . I t h a d b een th e in t e n t io n to e x ­
te n d th is lin e to th e R e d R iv e r a n d th r o u g h O k la h o m a to a
c o n n e c tio n w ith y o u r e x is t in g lin e s in t h a t S ta te ; b u t th is
p la n c a n n o t b e carried o u t a t th is tim e b e c a u s e s u c h ra ilro a d
c o n str u c tio n in th e S t a t e o f O k la h o m a is r en d ered im p o s s ib le
b y th e p r e se n t la w s o f t h a t S t a t e .
T R A N S C O N T IN E N T A L SH O R T L IN E .
A s s t a t e d in th e la s t A n n u a l R e p o r t, t h e lin e o f T h e
E a s te r n R a ilw a y C o m p a n y o f N e w M exico fro m R io P u erco
to T e x ic o , N e w M ex ico , fo r m in g a n ew lo w -g r a d e tr a n s c o n ti­
n e n ta l lin e, w a s o p e n e d for tr a ffic o n J u ly 1 190 8 .

T h e w o rk of r ed u c in g g r a d e s a n d c u r v a tu r e o f y o u r C om ­
p a n y ’s lin e s b e tw e e n T e x ic o , N e w M ex ico , a n d M u lv a n e ,
K a n s a s , u sed in c o n n e c tio n w ith th e n ew T r a n s c o n tin e n ta l
S h o r t L in e , h a s b een c o n tin u e d th r o u g h o u t th e y e a r , a n d h a d
p r o g r essed to a n e x t e n t w h ic h w a r r a n te d tr a n sfe rr in g to th e
n e w lin e p r a c tic a lly th e e n tir e tr a n s c o n tin e n ta l fr e ig h t tr a ffic
in M arch la s t , g r e a tly to th e relief o f th e N e w M exico Ar­
k a n sa s R iv e r a n d W e ster n d iv is io n s , r e s u ltin g in a b ilit y to
m a k e b e tte r tim e on all c la sse s o f tr a ffic . T h e r e r e m a in s to
b e d o n e a c o n sid e r a b le a m o u n t o f b a lla s tin g o n b o th th e n e w
a n d r e c o n s tr u c te d lin e s , w h ic h is in a c t iv e p r o g r ess.
A D D I T I O N A L M A IN -T R A C K M IL E A G E .
S e c o n d -tr a c k w o rk o n th e I llin o is a n d M issou ri D iv is io n s
is a lso in p r o g ress a s fo llo w s:
34.4 miles.
Etlelsteln, 111., to K nox, III_____________ _______ _______ _
S u rrey , 111., to S m lthshirc, 111 ______ . . . ___________________ 18.0
“
W yacoiula, M o., to B ucklln, M o____________________________ 69.3
“
R othville, M o., to C arrollton, Mo_____ ______________ ____ 31.7
“
A t Sibley, Mo . . . _______________________
________________ 3 .3

T o tal ------------------------------------------------------------------------------156.7 miles.

T h e m ile a g e o f se c o n d tr a ck in o p e r a tio n a t c lo s e o f fiscal
y e a r w a s 4 9 2 .8 0 m iles; u n d e r c o n s tr u c tio n , n e a r ly c o m p le te d ,
3 0 .2 0 m ile s, so th a t b y J a n u a r y 1 st n e x t t h e t o t a l w ill b e
5 2 9 .0 0 m ile s .
B U S IN E S S A N D E A R N IN G S .
D u rin g t h e y e a r c o v e r e d b y th is r ep o rt w e h a v e la rg e ly
r e c o v er ed fro m th e d e p r e ssio n w h ic h o v e r to o k all fo r m s o f
in d u str y in th e fa ll o f 1907 a n d c o n tin u e d fo r n e a r ly a y e a r .
A s s t a t e d h e r ein , our g r o ss o p e r a tin g r e v e n u e s w e re $ 3 ,6 4 7 ,­
920 49 in e x c e s s o f th o s e o f th e p r e v io u s y e a r a n d o n ly $ 7 7 ,­
590 63 le s s th a n th o s e of th e b a n n e r y e a r e n d in g J u n e 30 1 9 0 7 ,
a s r e v ise d , w h ile o p e r a tin g in c o m e w a s th e la r g e st in o u r
h is to r y . O w in g to im p r o v e d w o r k in g c o n d itio n s d u e to th e
lib era l e x p e n d itu r e s m a d e on y o u r p r o p e r ty , it h a s b e e n p o s ­
sib le to m a k e la rg e r e d u c tio n s in o p e r a tin g c o s ts w ith o u t
a llo w in g th e road or e q u ip m e n t to d e te r io r a te in t h e lea st;
a n d th e c o n d itio n of th e S y s te m a s a m a c h in e c a p a b le o f
tu r n in g o u t large q u a n titie s o f tr a n s p o r ta tio n h a s s te a d ily
im p r o v e d .
L IT IG A T IO N .
D u rin g th e y e a r it w a s fo u n d n e c e s sa r y to a p p e a l to th e
C o u rts a g a in s t th e a t t e m p t o f th e S t a t e of M issou ri to e n fo r ce
a r a te o f tw o c e n ts p er m ile for p a sse n g e r fares; th e a p p e a l
w a s su c c e ssfu l a n d th e o ld r a te s are s u b s ta n tia lly resto r e d in
th a t S ta te .
In K a n sa s a n d O k la h o m a th e tw o -c e n t r a te is
still in e ffe c t, b u t h o p es are e n te r ta in e d t h a t th e C o u rts w ill
afford u s th e sa m e p r o te c tio n w h en th e c a se s are tr ie d . I t is
u n fo r tu n a te t h a t in su c h c a se s th e railroad c o m p a n ie s are
s o m e tim e s fo rced to a c c e p t r a tes t h a t are n o n -c o m p e n sa to r y
p e n d in g th e lo n g p ro cess n e c e s sa r y to a fair h e a r in g in th e
C o u rts. T h ere is n o ra ilroad in th e W e st th e p a sse n g e r tr a ffic
; of w h ic h a p p r o x im a te s p a y in g it s p rop er sh a re of th e fix ed
ch a r g es a n d o p e r a tin g e x p e n s e s of th e road e v e n on a m a x i­
m u m r a te of th r e e c e n ts p er m ile; a n d th is can b e c o n c lu s iv e ly
sh o w n to th e s a tis fa c tio n o f th e C ou rts.
I t h a s a lso b e e n n e c e s sa r y to a p p ea l to th e C ou rts in th e
m a tte r o f t a x e s in O k la h o m a , w h ere a n e n d e a v o r h a s b een
m a d e to in c re a se th e t a x e s on y o u r p r o p e r ty to a p o in t b e y o n d
rea so n a s c o m p a r ed to o th e r p r o p e r ty in th e S t a t e .
I n ju n c ­
tio n s h a v e a lso b een o b ta in e d a s to tw o o rd ers o f th e I n te r ­
S t a t e C om m erce C o m m issio n , a n d th e c a se s are n o w b e in g
tr ie d . I t is th e d esire o f y o u r B o a r d t o c o m p ly w ith th e re­
q u ir e m e n ts o f S t a t e a n d F ed er a l a u th o r itie s w h e n e v e r p o s si­
b le , b u t c a se s a r ise w h ere th e in ju r y r e s u ltin g from su c h c o m ­
p lia n c e is to o se r io u s to b e s u b m itte d to w ith o u t reco u rse to
leg a l r em e d ies.
*

*

*

*

4=

*

E D W A R D P . R IP L E Y ,
P r e s i d e n t.

T H E A T C H ISO N T O P E K A & S A N T A F E R A IL W A Y C O M P A N Y — S Y S T E M .
C o m p risin g 1 he A tc h iso n lo p e k a & S a n ta F e R a ilw a y C o m p a n y , R io G ra n d e & E l P a so R a ilro a d C o m p a n y , Gul»f C olorad o &
S a n ta F e R a ilw a y C o m p a n y , T h e E a s te r n R a ilw a y C o m p a n y o f N e w M ex ico , T h e P e c o s & N o r th e rn T e x a s
R a ilw a y C o m p a n y , T h e P e c o s R iv e r R a ilro a d C o m p a n y , S a n ta F e P r e s c o tt & P h o e n ix R a ilw a y
C o m p a n y a n d T h e S o u th e r n K a n sa s R a ilw a y C o m p a n y o f T e x a s .
D r.

INCOME ACCOUNT F O R T H E FISC A L Y E A R EN D IN G JU N E 30 1909.

O perating Expenses:
M aintenance of W ay and S tru c tu re s ......... .$12,884,400 81
M aintenance of E q u ip m en t.
.. 13,903,897 37
T raffic E x p en ses____________
1,904,822 1 1
T ran sp o rta tio n Expenses . . .
26,674,863 83
G eneral E x p en ses___________
2,127,205 07
•
--------------------- $57,495,105 10
T a x e s . . ----- . . .
------------------------------------------------------- 3,015,218 53
Balance, Operating Income carried down

..

. . . . . . 33,755,303 15

$94,265,710 87
In te re s t on B onds____________________ ___
R en tal of T racks and T erm in als___________
H ire of E q u ip m e n t...............................................
A dvances to Subsidiary C om panies_________
D ividend No. 21 on C apital Stock, P referred
"
" 2 2 ..........................
“
“ 10 '•
"
“
Common
A ppro p riatio n for Fuel R eserve F u n d . _____
A p p ro p riated for A dditions and B etterm en ts:
E xpended d u rin g y e a r___________________ $4,000,000 00
R eserved for fu tu re e x p en d itu re s-----------5,000,000 00
Balance, being Surplus for 12 m onths ending June 30 1909,
carried to Profit and Loss A ccoun t-------------------------------




C r.

O perating R evenues:
F reig h t . . . ______ . . . _________ ______$04,212.638 10
P a s s e n g e r ............................. ................
. . . 22,734,505 32
Mall, Express a nd M iscellaneous.
___ _ 7,318.573 45
--------------------- $04,265,71* 87

$13,548,081
89,230
770,820
87,518
2.854.345
2.854.345
2,573,912
2,578,637
158,230

03
12
09
00
00
00
50
50
11

0,000,000 00
398,520 72

$94,205,716 87
Operating Income brought down

In te re s t a nd D isco u n t__________
Incom e from In v e stm e n ts_______
M iscellaneous Incom e R e c e ip ts ..

$33,755,303
811,307
342,247
4,820

16
86
01
15

P R O F IT A N D LOSS ACCOUNT TO JU N K 30 1909.

D r.

C r.

G rade Revision W ork— A bandoned L in e__________________
$541,888 56
A m o u n t w ritten oil P ro p erty A ccounts In resp ect of expenses
a n d d isco u n t on bond sales---------------------------------- -------- 1,487,500 00
B alance (Surplus) carried to G eneral B alance S h eet---------- 13,821,250 74

B alance b ro u g h t forw ard from Ju n e 30 1908----------------------$20,352,805 50
S urplus for 12 m onths ending Ju n e 30 1909..............................
398,520 72
S u ndry a d ju stm e n ts applicable to p rio r y e ars------------------99,253 08

$20,850,639 30

$20,850,039 30

T H E A T C H IS O N T O P E K A & S A N T A F E R A IL W A Y C O M P A N Y — S Y S T E M .
C o m p risin g T h e A tc h iso n T o p e k a & S a n ta F e R a ilw a y C o m p a n y , R io G ra n d e & E l P a so R a ilro a d C o m p a n y , G u lf C olo ra d o <fe
S a n ta F e R a ilw a y C o m p a n y , T h e E a s te r n R a ilw a y C o m p a n y o f N e w M ex ico , T h e P e c o s & N o r th e r n T e x a s
R a ilw a y C o m p a n y , T h e P e c o s R iv e r R a ilro a d C o m p a n y , S a n ta F e P r e s c o tt & P h o e n ix R a ilw a y
C o m p a n y a n d T h e S o u th e r n K a n s a s R a ilw a y C o m p a n y of T e x a s .
B a la n c e s
J u n e 30 1908.

B a la n c e s
J u n e 30 1909.

ASSETS.

Railroads .Franchises
& Other Property,
Including Stocks,
Bonds, &c. (Ex­
hibit A ).................
Expenditures for Ad­
ditions and Better­
ments, Construc­
tion and OtherCapItal Purposes Dur­
ing Current Fiscal
Year (Exhibit B ).

$505,959,077 07

21,949,817 21
.$527,908,894 28

S527,908,894 28

0.090,006 10

$1,228,586
492,474
672,087
3.702,858

$264,079 98

7,288,123 80
7,136,313 41
$548,952,050 00

155.426 90

315.454,420 00
1,591,987 08

4,018.718 45
3532,527.012 73

$534,170,637 08

137,760 71

Capltal Stock:
Outstanding (Exhlblt IJ).
Funded Debt:
Bonds Outstanding
(Exhibit E )-----

$235,733,230 00
311,218,820 00

B a la n c e c a r 'd da w n

$540,952,050 00

$534,176,037 08

B a la n c e c a r ’d d o w n

$1,591,987 08
7,550,091 88
14,039.058 49

B a la n c e s
J u n e 30 1909.

L IA B IL IT IE S .

3217,130,230 00

T o tal______
Investments,New Ac­
quisitions (Exhibit
C ) .....................

6,207,742 80

B a la n c e s
J u n e 30 1908.

Balance from Capital
Account.................
Other Investm ents..
Material and Supplies
Prepaid Insurance
Premium_______
Guaranty Trust Co.
of New York:
Cash Deposit for
Fuel R e s e r v e
Fund...................
Accounts Receivable:
53 Traffic Balances.. $1,49G,531 15
14 Agents & Conduc’s
387,223 71
315,784 07
09 U. S. Government
3,814,180 26
34 Miscellaneous .

Cash on Hand and In
In Bank:
Time Deposits___ 310579,941 79
Check Deposits and
In T rea su ry ___ 19,450,563 04
$9,407,865 15

9.407,865 15

8,435,534 38
10,979,159 03
109,469 58

313,670 85

0,013,719 79

30,038,504 83

155.426 90

Balance from Capital
A ccount.............
Bridge Renewal Itesere v .....................
Reserve f o r f u e l
Lands:
The Atch. Top. &
Santa Fe Ry. Co.
$154,730 53
Cherokee & Plttsb.
Coal & M. C o ...
696 37

$55,888,004 46

120,327 96
3312,960 04
716 21

Equipment Replace­
ment Reserve___
234,060 01
Kquip’t Reconstruc­
tion Reserve.........
1,150,083 45
Rail Renewal Res’v
831.013 18
Tie Renewal Reserve
Dividends on Prof.
a nd Com. Stock:
No.22 on Pfd. Stk„
pay.Aug. 2 1909 $2,854,345 00
$2,854,345 00
32,984 25
30,780 75 Unclaimed Dlv’ds.
2,885,125 75
Accrued Taxes not
yet D ue.................
1,494,138 87
Interest on Funded
Debt:
$3,845,311 60 Accrued, not d u e .. $3,700,731 21
Coupons not pre­
309,261 07
sented ................
078,365 00
4,154,570 27
Accounts Payable:
$2,717,631 38 Pay R 0II3 .............. $3,107,502 49
3,117,235 97 Audited Vouchers 3,119,555 32
982,263 61 Traffic Balances.. 1.200.055 24
1,189,725 44 M iscellaneous___ 1.488,096 75
8,00G,846 40
Prior Accounts
50.000 00
Liquidation___
Appropriated Income
Expo ided for Ad­
ditions and Bet­
term ents............ $4,000,000 00
Reserve for future
Additions & Bet­
5,000,000 00
term ents___
Profit and Loss: Sur­
plus................

20.352,835 50
839,578,802 31

$7,136,313 41

313,070 85
181,617 45
887,043 35
1,489,373 91
95,388 41

2,887,329 25
1,01 1,237 09

4.379,098 24

8,901,809 80

9,000,000 00
18,821,250 74
855,888,064 46

$39,578,802 31

We have examined the books and accounts of The Atchison Topeka fc Santa Fe Railway and System lines and certify that tho above Balance Sheet and relative
Income and Protlt and Loss Accounts are property rdawn no therefrom, and show the correct Income of the Company's system for the year and the true financial conditio*
at the close of the year. We have been provided with satisfactory certificates from tho Trustees as to the securities pledged under the different mortgages, and we have
also verified the cash Items.
PRICE, WATERHOUSE * CO.. A u d i to r s .
New York, Sept. 8 1909.

GENERAL BALANCE SHEET— EXHIBIT A.

GENERAL BALANCE SHEET—EXHIBIT C,

R A IL R O A D S, F R A N C H IS E S AN D O T H E R P R O P E R T Y .
A m oun t J u n e 30 1908 as published In A nnual R e p o rt____ $505,050,077 07
E x p e n d itu res for C onstruction an d E q u ip m en t d u rin g
Fiscal Year ending Ju n e 30 1908............................................ 21,949,817 21

IN V E S T M E N T S --N E W A C Q U ISIT IO N S,
E xpenditures to Ju n e 30 1908 as show n In A nnual R e p o rt__ $0,207,7 12 80
E x penditures for the Fiscal Y ear ending June 30 1909:
G rand Canyon R y ____ ________________
$2,054 01
S a n ta Fe L and Im p ro v em en t Co.:
Chanslor-Canfield M idway OH C o ____ _
933,500 00
Sunset W estern Ry
124,742 80

$527,908,894 28

GENERAL BALANCE SHEET—EXHIBIT D.
C A PIT A L STOCK J U N E 30 1909.
I s s u e d .*
In T rea su ry.
C o m m o n ...........................................$121,604,000
$44,500
P referred
..................................... 114,199,530
25,800

$1,001 ,100 81
O u ts la n d in n .

$121,559,500
114,173,730

$235,803,530
$70,300
$235,733,230
* N o t Including $17,286,470 P referred Stock placed In special tru s t for
certain purposes by the R eorganization C om m ittee an d n o t used.

D eduction:
S a n ta Fe L and Im provem ent Co.:
Texas Tie 6c L um ber Preserving Co.

40,815 75

1,020,381 06
$7,288,123 86

GENERAL BALANCE SHEET— EXHIBIT B.
E X P E N D IT U R E S F O R A D D IT IO N S AND B E T T E R M E N T S . C O N STR U CTIO N AND
Y E A R EN D IN G JU N E 30 1009.

OTHER

A d d itio n s
and
B e tte r m e n ts .

A tchison T opeka & S a n ta Fe R y ............ ...............
A tchison T opeka & S a n ta Fa R y . (Coast Lines)
A rizona & C alifornia R y ______________________
B radsh aw M ountain R R _____________________
: e B elt R R ________________ ______ ________
; s ern R y . of New Mexico S y ste m __________
1 B eaum ont & G reat N o rth ern R y ________
( ulf B eaum ont <Sc K ansas C ity R y ___________
Gulf Colorado & S a n ta Fe R y _______________
J a s p e r & E astern R y ________________________
P re s c o tt & E astern R R ______________________
San Francisco & San Jo aq u in V alley R y ____
S a n ta Fe Pacific R R _________________________
S a n ta Fe P resc o tt <Sc P hoenix R y ______________
S a n ta F e L and Im p ro v em en t Co_____________
S o u th ern K ansas R y. of T ex as_______________
T exas & Gulf R y -------------------------------------------U nion Passenger D epot Co. of G alv esto n ...........

$4,108,532
804,406
56
31
3,053
158,890
4,122
0,093
510,082
3,872
162

93
03
32
08
09
72
82
39
57
10
84

C redits.




PU R PO SES

D U R IN G

C o n s tr u c tio n .

O th e r
E x p e n d itu r e s .

*$14,085 91

•$82,540 70

'1,625 01
591,304 18

13,817 17
275 00
2,000 00

80,517 44
’ 1.915,058 00
254,007 33
307,334 32
$4,018,930 72

D e d u c tio n —
L and Sales d u rin g Fiscal Y e ar...............................

|

C A PIT A L

$800,743 85

543 42
'$80,572 12

FISC A L

$4,011,000
804,400
*1,569
31
3,053
750,194
4,122
5,240
510,082
17,089
102
275
2,000
80,517
*1,915,058
252,007
307,334
543

23
03
59
08
09
90
82
04
57
33
84
00
00
44
00
33
32
42

$4,835,102 45
$216,384 00

THE WABASH RAILROAD COMPANY.
TWENTIETH ANNUAL REPORT— FOR THE FISCAL YEAR ENDING JUNE 30 1909.
T o th e H o ld e r s o f D e b e n tu r e M o r tg a g e B o n d s a n d to th e S to c k ­
h o ld e r s o f th e W a b a s h R a i l r o a d C o m p a n y :

The annexed statement gives in a condensed form a
summary of the operations of the Company for the last
fiscal year, and a comparison with similar figures for the
preceding two years:
REVENUES, EXPENSES AND TRAFFIC.
R E V E N U E S AND E X PE N SE S.

Year ending
Year ending
Year ending
J u n e 30 1007. J u n e 30 1008. J u n e SO 1909.
$27,432,473 52 $25,740,074 10 $25,868,033 30
19,505,147 26 18,843,747 03 18.757,184 47
N et Operating R evenue___
Per Cent of Operating Ex-

$7,027,326 26

Gross Revenues per m ile__
Operating Expenses per mile
N et Oper. R ev. per m ile__

$6,806,326 26 $7,110,848 83

71.10
10,904 08
7,753 06
3,151 02

7 3 .2 1
10,235 44
7,493 14
2,742 30

72.51
10,287 14
7,459 31
2,827 83

ANALYSIS OF R E V E N U E S.

Freight - Passenger
H a l l ____
Express . .
Mlscellan c o u s- Total

Year ending
Per
Per
Year ending
Year ending
J u n e 30 1907. Cent. J u n e 30 1908. Cent. J u n e 30 1909.
$18,465,286 29 67.31 817,103,693 21 66.45 $17,176,708 74
6,395,775 35
6,470,678 03 25.14
6,891,288 83 25.12
772,249 01
770,882 08 2.99
829,465 00 3.02
782,812 33
768,509 35 2.99
732,322 33 2.67
514,111 07

1.88

626,311 52 2.43

Per
Cent.
66.40
24.72
2.99
3.03

740,487 87 2.86

$27,432,473 52 — - $25,740,074 19 — - $25,868,033 30 — A N A L Y S IS OF E X P E N S E S .

Per
Year ending
Year ending
Per
Year ending
Per
J u n e 30 1907. Cent. J u n e SO 1908. Cent. J u n e 30 1909. Cent.
Maint. of
Way and
S t r u c __ $2,747,667 46 14.09
Maint. of
Equip__
3,915,261 39 20.07
"■Traffic
Expenses
. . . .
Transp’t ’n
Expenses 12,153,324 23 62.31
General
688,894 18 3.53
Expenses

$2,679,179 36 14.22

$3,112,598 53 16.59

4,348,774 33 23.08

3,966,179 70 21.14

859,912 61 4.56

836,492 56 4.46

10,219,567 11 54.23

10,024,796 27 53.45

736,314 52 3,91

Total __ $19,505,147 26 ___ $18,843,747 93

817,117 41 4.30
.$18,757,184 47

* Year ending June 30 1007, Traffic Expenses are Included In Transpor­
tation Expenses.

As will be seen from the foregoing, the gross revenue
from operation for the fiscal year ending June 30 1909
was $25,868,033 30, an increase of $127,959 11 over the
previous year. The gross operating expenses were $18,­
757,184 47, a decrease of $86,563 46, leaving a net operating
revenue of $7,110,848 83, an increase of $214,522 57 over
the year previous.
The fiscal year just closed represents a period of gradual
recovery from the financial disturbances which culminated
in October 1907; the first five months of the year showing
large decreases in earnings compared with the same months
of the year previous, but the succeeding seven months
showing a steadily increasing improvement over the year
previous.
In the year ending June 30 1908 one-quarter of the charge
for Hire of Equipment was made against Operating Ex­
penses (under Maintenance of Equipment) and threequarters against Income Account, whereas in the year
ending June 30 1909, under instructions of the Inter-State
Commerce Commission, the entire debit balance chargeable
for Hire of Equipment is made against Income Account.
This explains the increase in the charge for Hire of Equip­
ment from $582,953 6 8 to $726,317 81. Your company
—Berkeley School announces the opening of the 30th
school-year next Monday, Oct. 4. The growth of the school
has necessitated the addition of another building at 253 West
End Ave., which will be occupied by the “lower school,”
comprising the junior, primary and sub-primary departments
—the main building, at 72d St. and West End Ave., being
devoted wholly to the middle, senior and college preparatory
departments. Prof. Richard P. Williams, the well-known
athlete and holder of five professional world’s records, has
been engaged as physical director. Last year fifteen students
were sent up to the various colleges for final or preliminary
examinations. Their success was in general very satisfac­
tory, and one of them was one of fourteen who were ad­
mitted to Harvard w ith o u t c o n d itio n s , out of over 700
matriculants. The prospects for the coming year are very
good, and it is expected the attendance will reach the 2 0 0
mark.
—A descriptive list of high-grade railroad bonds which are
suitable for banks, insurance and trust companies and a list
of guaranteed railroad stocks (exempt from tax) suitable for
executors, trustees, <fcc., will be mailed on request by A. M.
Kidder & Co., 18 Wall Street, members of the New York
Stock Exchange. Copies of these lists of offerings can also
be obtained by telephoning the firm, 2780 Rector.




has had during the entire year a surplus of equipment, but
the conditions of business and the necessity of handling a
large tonnage of through freight in the cars belonging to the
originating lines have brought about this abnormal debit.
In accordance with the instructions of the Inter-State
Commerce Commission, a charge for Depreciation of Equip­
ment (locomotives, passenger cars, freight cars and work
cars) has been made. The amount charged out during the
year for this Account was $551,146 16, and this, together
with the amount charged out in the previous fiscal year,
totals $1,414,949 83, which appears as a Renewal and Re­
placement Fund and is shown in the balance sheet of the
Company as a liability. Attention is called to this because
it is questionable if charges of this kind should be con­
tinued.
The arrangement made with the Debenture Mortgage
bondholders, approved at the special meeting of the stock­
holders and bondholders October 22 1906, for refunding
the Debenture “A” and Debenture “B ” bonds, as well as
other existing mortgages as they fall due, and providing
for expenditures properly chargeable to Capital Account,
has been so far carried out that all of the Debenture “A”
bonds, amounting to $3,500,000 00, and $25,131,000 00
of the Debenture “B ” bonds, have now been refunded and
deposited with the Trustee, leaving of this issue only $ 1 ,­
369,000 0 0 bonds in the hands of the public. The immediate
effect of this arrangement has been, of course, to substitute
a bond carrying a fixed charge for an income bond, and dur­
ing the first two or three years of the operation of this plan
it has put some additional burden on the income of your
Company; but there can be no doubt that the ultimate effect
of the plan will prove advantageous. Without it your
Company had no method of capitalizing additions and
betterments to its property, and such additions and bet­
terments could only be made to the very limited extent
that the net earnings of the Company would permit.
In addition to the above, short-time notes and various
obligations maturing during the year, amounting to $939,­
0 0 0 0 0 , have been retired and refunded by the issuance of
First Refunding and Extensions Four Per Cent Bonds,
and there have been paid off and extinguished during the
year $411,714 14 of Car Trust Obligations. When these
refunding operations are completed, the finances of your
Company will be in a more satisfactory condition and the
annual charges will be considerably diminished.
The subjoined reports of the Vice-President and General
Manager for the Operating Department, and the Vice­
President in charge of the Treasury and Accounting Depart­
ments, present in considerable detail the results of the year.
The physical condition of the property has been well main­
tained in all respects. It will be noted that there has been
a considerable increase in the expenditure on account of
Maintenance of Way, this having been due to the fact that,
we were able to take advantage of the large supply of tie
timber offering on the market at favorable prices. The
decrease in Maintenance of Equipment has been due largely
to the difference in the method of charging Hire of (foreign)
Equipment and partly to the fact that during a consid­
erable period of the year a large number of cars and engines
were idle, which resulted in a diminution in the cost of
maintenance.
The Board of Directors desires to express its apprecia­
tion to the officers of the Company and to other employees
for their loyalty and devotion to its interests.
By order of the Board of Directors,
F. A. DELANO,

President.

Chicago, September

1

1909.

(For statistical tables, see under "A n nual R e p o rts” on

a

preceding page

— Poor's Handbook of Investor’s Holdings for 1909
(second annual number) is issued. The book, comprising
1,385 pages, shows ownership of securities by financial insti­
tutions. The data has been compiled from the most recent
State banking and insurance reports and from special reports
of Massachusetts banks. The information is presented in
classified form, the names of institutions owning a particular
security appearing in alphabetical order under the name of
that security. The book is divided into five sections: Steam
Railroad Securities; Street Railway Securities; Government,
State and Municipal Securities; Industrial and Miscellaneous
Securities; Bank Stocks. The price of the book is $15 per
copy, delivered. Sample pages will be sent on request.
6 8 William Street, New York.
— Messrs. Plympton, Gardiner & Co., 27 William St.,
New York, and 232 La Salle St., Chicago, aro offering on
another page, to investors, a choice list of investment bonds
and tax-exempt guaranteed stocks. Further details and
particulars will be sent upon request made to either office.
— LeRoy Miller, son of Andrew Miller, has associated him­
self with Gude, Winmill & Co., bankers, 20 Broad Street,
New York, and will be specifically connected with their bond
department.

C O T T O N .
F r i d a y N i g h t , O c to b e r 1 1909.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
C O M M E R C IA L E P IT O M E .
week ending this evening the total receipts have reached
F r i d a y N i g h t , O c t. 1 1909.
378,898 bales, against 278,584 bales last week and 239,071
As for many weeks past, the drift of trade is plainly bales the previous week, making the total receipts since
1 1909 1,094,513 bales, against 1,020,453 bales
towards improvement. The most pronounced activity con­ Sept.
for the same period of 1908, showing an increase since
tinues to be in iron and steel, but in this branch of business
there are signs that a more conservative spirit is beginning
Total.
F ri.
Sa t.
M on.
Receipts at—
Tues.
Wed. T hurs.
to prevail. Too rapid an advance in prices is deprecated.
G alveston............ 21,444 19,043 46,685 17,818 13,961 23,208 142,162
In many other branches of trade there is a cautious move­ Port
___
___
____
7,047
7,047
Arthur----988
Corp, Chrlstl, &c
988
ment forward. Prices are generally steady.
New Orleans----2,245
4',775
6,113
3,569 31,755
5,281
9*.768
___
LARD on the spot has been strong despite a break in fu­ G u lfp ort---------1,937 10,867
________
1,417
2,556
3,447
‘ 576
934
tures at the West. Receipts of live hogs have continued very PMobile
___
_____
en sacola ............
386
70
“ 83
233
light and supplies of product are small. Trade quiet. Prime Jacksonville, &c.
15,056 15,171 105,524
Savannah
.
.
.
.
20,952
15,818
18,737
19,790
Western 12.90@13c., Middle Western 12.80@12.90c., City B ru n sw ick _____
9,500
9,500
12^@ 12% c. Refined lard has advanced, with larger sales. C h arleston ------- 2,649 4’,330 1,829 1,514 2,546 2,402 15,270
__
___
___
__ :__ _____
G eorgetow n-----. ..
Continent 13.20c., South America 14c., Brazil in kegs 15c. W
5,621
3,800 28,078
ilm in gton ___
3,825
4,554
3,417
6,771
Speculation in larcl futures has been active at declining prices. Norfolk _______ 4,096 3,502 6,142 3,070 4,293 5,244 26,347
189
189
’pqjt News, &c
Liquidation has been heavy at times. Packers have sold. N
“ 49
301
N ew York______
‘ 252
The principal buying has been to cover shorts.
___
___
___
___
34
0
Boston ________
25
D A IL Y C L O SIN G P R IC E S
S a t.
S ep tem b er d e liv e r y ____12.57 ^
O ctober d e liv e r y ----------12.40
J a n u a ry d e liv e r y ______ 1 0 .9 7 H

O F L A R D F U T U R E S IN CHICAGO.
M on.
rues.
W ed .
T h u rs .
F r i.
12.50
12.37*4 12.27J4 12.12 34 ____
12.40
12 .25
12.10
12.0234 12.1734
11.00
10.95
10.80
10.6734 10.82J4

Baltimore _____
Philadelphia___

—

—

—

—

___
—

Totals this week.

51,090

60,453

87,655

57,425

65,148

450
..........
57,127 378,898
—

450

The following shows the week’s total receipts, thetota*
PORK has advanced. Trade has been quiet but supplies since Sept. 1 1909, and the stocks to-night, compared with
are light and the live-hog situation remains very strong. Mess last year:
$25 25@$25 50, clear $23@$25 25, family $25@$2G. Beef
has been firm, with a moderate trade. Mess $ 1 1 @$11 75,
1908.
S to c k .
19 0 9 .
Tfprpint<i
tn
llLLL
l[Jlo l/U
packet $ 1 2 50@$13, family $13 75@$14 50, extra India mess
O c to b e r 1.
T h is
S in c e S e p
T h is
S in c e S e p
$20 50 @$2 1 . Cut meats have been quiet and steady;
W eek.
1908.
1 1909.
W e e k . 1 1 1908.
1900.
pickled hams, regular, 14@20 lbs., 12M @ 12^c.; pickled
G a lv esto n _______ 142,162
38 7 ,3 5 6 117,977
129,306
77,851
4 2 2 ,2 8 9
bellies, clear, 8 to 12 lbs., 14J^@15c.; pickled ribs, 8 to 12 P o rt A rth u r_____ 7,0 4 7
______
______
7,047
5,766
328
969
988
lbs., 13}^@14c. Tallow quiet and firm; city 5M@5%c. Corp. C hrlstl, &c.
64 ,0 6 6
ew O rlean s____ 3 1 ,7 5 5
93,808
‘71,830
71,365 41 ,5 0 6
Stearines quiet and strong; oleo 15@ 15^c. Butter, cream­ N
.
____
___
______
______
G u lfp ort _______
21,119
2 5,759
ery extras, 30c. Cheese, State, f. c., small or large, fancy, M obile ................. 10,867 30 ,2 4 9 14,823 39 ,0 4 5
P e n s a c o la _______
J a ck so n v ille , &c_

15Mc.

‘ 386

“ ’ 767

7 ,0 5 0
656

9,288
3,010

—

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

9 2,516
80,154
272,978
34 1 ,3 4 2 84,774
OIL.—Linseed steady with a moderate trade in small lots. S a v a n n a h _______ 105,524
4,182
26.252
10,547
9,500
53,955 13,275
r u n sw ic k _____
City, raw, American seed, 57@58c.; boiled 58@59c.; CB harleston
23,141
6 0 ,0 7 7 13,617
4 1,070
32 ,2 2 7
_____ 15,270
25
9
0
Calcutta, raw, 75c. Lard quiet and firmer on the rise in G eorgetow n ------ 28,078
78 ,4 1 8 26,053
2 5,382
67,918
21,289
ilm in g to n -----the raw material; prime 96@98c.; No. 1 extra 50@56c. W
14,115
55,528 16,971
N o rfo lk __________ 20,347
18,644
41 ,1 2 2
______
652
492
1,036
189
Cocoanut quiet but firmer; Cochin 8%@9c.; Ceylon 8 @ N cw p ’t N ew s, &c.
6 3 ,2 7 0
351
65,223
Y o rk ______
301
4
4
8 \4 c .
Olive quiet and firm at 85@81 40. Palm stronger; NB ew
3 ,0 0 7
3,1 3 6
o s t o n .................
34
426
55
718
1,240
450
1,604
1,007
236
751
Lagos 6 Mc. Peanut quiet; yellow G5@70e. Cod dull and B a ltim o re______
2,030
—
182
975
P h ila d e lp h ia ____
177
steady; domestic 38c.; Newfoundland 40c.
3 9 6 ,5 5 9
T o ta l.................... 378 ,8 9 8 1 ,094,513 3 38,816 1,0 2 0 ,4 5 3
4 65,054
COFFEE on the spot has been dull and steady. Rio No. 7
7M@7%c.; Santos No. 4, 8 ^ @ 8 %c. West India growths
In order that comparison may be made with other years,
have been quiet and steady; fair to good Cucuta 9c.@ 1 0 c.
Speculation in future contracts has been dull and fluctuations we give below the totals at leading ports for six seasons:
have been slight with the drift toward a somewhat lower R e c e i p t s a t —
19 0 7 . | 1906.
1905.
1905.
1908.
19 0 9 .
level, owing to the dulness of the spot trade, weakness at
127,374
135,302
1 17,977
5 2,075
130,827
1 42,162
a lv e s t o n ___
times in the European markets, liberal Brazilian receipts G
3,1 4 8
328
74
1,016
8 ,0 3 5
P t. A rthur, &c.
2,2 7 9
3 1 ,7 5 5
41 ,5 9 6
52,888
22,124
68,831
and liquidation by discouraged longs. Closing prices were N ew O rlean s.
22,088
10,867
14,385
12,693
14,823
9 ,1 3 6
5,093
M o b ile ______
as follows:
84,774
88,291
105,524
S a v a n n a h ___
6 5,405
65,184
81,240
O c t o b e r _________ 5.35c.
N o v em b er________5 .4 0 c.
D ecem ber _______5.40c.
J a n u a r y _________ 5 .4 5 c.

F e b r u a r y ____— 5 .5 0 c. J u n e ____________ 5.6 0 c.
5.60c.
M a r ch ___________ 5 .5 5 c. J u ly ___
A p r il_____________5.55c. A u gu st ___________5.6 0 c.
May
_____
5.00c. S e p t c R b c r _______5 .6 0 c.

SUGAR.—Raw has been dull most of the week, but of
late the demand has increased somewhat. Prices have been
firm and in some quarters higher quotations are being asked
than those currently reported. Centrifugal ,96-degrees test,
4 23 ^ c.; muscovada, 89-degrees test, 3.73J^c.; molasses,
89-degrces test 3.48|^c. Refined has been quiet and steady;
granulated 4.95@5.05c. Teas have ruled firm, with a
brisk trade. Spices have been moderately active and firm.
Wool has been active and stronger. Hops quiet and firm.
PETROLEUM.—Refined has been in active demand for
export with a routine business for domestic account; barrels
8.25c.; bulk 4.75c.; cases 10.65c. Gasoline has been in good
demand and steady; 8 G degrees in 100-gallon drums 18%c.;
drums $7.50c extra
Naphtha has been moderately active
and steady; 73@76 degrees in 100 gallon drums 21j^c.;
drums $7.50 extra. Spirits of turpentine active and firmer
at 6 1 ^ ® 62c. Rosin has been in good demand and higher;
common to good strained $4.25.
TOBACCO.—The trade in domestic leaf has been less
active this week, but the falling off in business is traceable
largely to the Hudson-Fulton celebration. Sentiment in
the trade regarding the future is still very cheerful, the belief
being general that the improvement in business recently
noted will become more marked in the near future. Prices
have been firm with an upward tendency, especially for old
leaf. Havana and Sumatra have been moderately active
and firm.
COPPER has been steady, with a quiet trade in small lots.
The exports last month were the smallest of any month
during the year thus far, with the exception of February.
Lake I3@13*4c., electrolytic 12%@13c.; casting 1 2 ^ @
12%c. Spelter quiet at 5.65@5.75c. Tin has been quiet
and firm at 30 62^c.for spotpig. Iron has advanced. The
rise has caused some slackening of the demand from large
consumers A fairly large business has been done with small
buyers, however, though reports from many sections show
that their is less disposition to anticipate needs




B ru n sw ic k __
C harleston,& c
W ilm in g to n ..
N o r f o lk _____
N ’port N .,& c .
Alt o th ers____

9 ,5 0 0
15,270
28.078
26 ,3 4 7
1 -9
1,171

13,275
13,626
26,053
16,971
492
8,901

8 ,6 1 5
12,002
3 0 ,8 2 0
15,409
78
246

0,0 6 5
7,282
2 7 ,0 7 0
14,796
428
516

2,486
12,749
25 ,9 2 0
4 2,642
198
16,427

5,073
2 1 ,0 9 0
2 6,534
39 ,7 3 9
93
927

T o ta l th is w k .

3 78,898

33 8 ,8 1 6

215 ,9 4 8

3 1 2 ,4 3 7

346,561

4 0 1,721

Sin ce S ep t. 1 . 1,094,513 1 ,0 2 0 ,4 5 3

730 ,1 2 3

98 7 ,0 1 3 1 ,2 6 8 ,4 5 9 1,4 7 2 ,4 1 2

The exports for the week ending this evening reach a total
of 340,760 bales, of which 99,420 were to Great Britain,
78,998 to France and 162,342 to the rest of the Continent .
Below are the exports for the week and since Sept. 1 1909:
HjXJJOTIS
from—

Week ending Oct. 1 1909.
Exported to—

From Sept. 1 1909 to Oct. 1 1909.
Exported to—

Great
Conti­
Great i
Britain. jFfnce. nent. Total. Britain. \France

Galveston___ 38,179 32,326 69,377 139,882
___ 1,000 6,047 7,047
Port Arthur. . .
___ __
Corp,Chrlstl,&c
357
357
___ 7,800 3,460 11,260
New Orleans..
—
9,159
....
9,159
Mobile.............
Pensacola ___
Fernandlna . .
Savannah ___ 13,724 28,713 57‘,io i 99,538
Brunswick___ 7,021 ___ 10,020 17,011
_
5,300 5,300
Charleston___
—
25,602
Wilmington.. . 25,002 —
—
—
—
Norfolk...........
Newport News.
___
8 A 17 18,084
New York___ 9",967
213 4,040
Boston ........... 3,827 ___
1,100
100 1,200
Baltimore___
—
—
___ —
Philadelphia. .
___ ___
___
___
Portland, Me..
___ ___
1,899 1,899
San Francisco.
___ ___
351
351
Seattle ...........
___
—
___
Tacoma...........
___
___
___
Portland, Ore.
___ __ Pembina____
—
—
—
Detroit.............

Conti­
nent. j Total.

67,797 83,689 126,809
6,047
1,000
2,447
_._
10,226
’ 7‘,095 14,800
9,159

278,295
7,047
2,447
32,121
9.15

__
33,442 35,897
___
13,001

___
176,275
41,051
19,950
57,343
_____
...........
60,457
22,665
5,713
3,942

37,315
—
_____
22,053
17,804
2,329
1,243
_____
_■____
...........
_____
...........
...........
...........

—
— ___
3,810
502
___
___
___
___
___
___
___
—

_____
106,936
28,050
19,950
20,028
—
_____
33,994
4,761
2,882
2,699

T o ta l-------- 99,420'j78,998jl62,342I340,760

202,679 148,857

' 2,850 ‘ 2,850
573
573
_____
_____
_____
_____
_____
_____
........... { ...........
368,252 , 719,788

Total 1908___ 112,803]50.022|l89.632}358.457

228.677;103,192

369,263

701.132

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures fpr
New York.

On Shipboard, Not Cleared for—
Leaving
Other Con tiGerStock..
Total.
Oct. 1 at—
Britain. France m any. Foreign wise.
26,019
330
45,811
5,979
5,250
Now O rleans.. 12,800
1,651
5,000 75,000
54,306
8,000
30,000 12,000 20,000
86,954
______
2,200
2,200
2,000
30,227
______
2,000
6,500
14,619
1,300
—
300
2,100
2,800
M obile_______
2,276
16,368 16,368
58,523
______
2,666
6,700
1,200
500
3,000
16,551
3 ,000
21,000
—
8,000
—
Other ports__ 10,000
Total 1909. . 58,600 16,251 34,750 18,979 27,108 155,787 309,267
45,030 22,705 23,276 19,212 17,672 127,895 268,664
3,615 28,770 32,500 22,923 120,76.8 318,428
Total 1907.. 32,060

FUTURES.—The highest, lowest and closing prices at
New York the past week have been as follows:
oar. Ofc
QS=? QftEtQMa na.
°g I S b 1S b 1 S b ? S b '[ S b 1S b 1 S b 1o e* 1 S b
•SB 11 E
'er? Pg eg
S’c
r
q
g’crq g-oq
cPg
rq *3 ® oq°
a
crq”
crqQ 1
cPg
rq°
C3£0 CdCO COCO CO|

©

©

© I©

COCO

COCO

Speculation in cotton for future delivery has been active
at quite irregular prices. The net result is some decline for
the week. This was due partly to continued large receipts.
Also there has been a good deal of heavy liquidation, partly
owing to what appears to have been a false report that
James A. Patten had sold his holdings. This he denied.
On the other hand, however, there seems to have been con­
siderable liquidation by some Western interests and also by
Wall Street and New Orleans people. There has been some
apprehension among adherents of the bull side, too, that the
Census Bureau’s report of Oct. 4 might reveal a very heavy
ginning up to that date. Some estimates on the subject
have been 3,00;),000 bales or more, as against 2,590,639
bales for the same period last year on a crop of 13,817,516
bales, the largest ever raised, and 1,532,632 for the same
period in 1907-08, with a crop of 11,441,669 bales. More­
over, hedge selling by the South has been persistent. Rightly
or wrongly, too, it is understood that a bear pool has been
formed to exploit the long interest. Recently Southern and
Western purchases for long account reached large propor­
tions, and the drop in the January option from 13.52c. to
13.07c. is regarded as an indication that bull speculation had
been overdone. At the same time, reports of damage by
the recent tropical storm and continued and somewhat re­
markable activity in spot cotton at Liverpool, together with a
certain amount of aggressiveness on the part of the bulls, par­
ticularly, it is understood, the Western wing of that party,
have combined to bring about frequent rallies. Of late the
daily spot sales in Liverpool have been as large as 15,000
bales. Spinners, in other words, are calling for consider­
able quantities of cotton across the water. Also, Man­
chester has sent cheerful reports, and in this country the
trade situation seems to be gradually improving. The stock
of cotton at New York is steadily dwindling. The October
notices, though not large to be sure, were, it is worthy of
note, promptly stopped. Some of the bears fear, moreover,
that the ginning figures to be issued on Monday may not be
so large as has been generally assumed, and also that the
Government report on the condition of the plant during
September may be unfavorable. At times, too, there have
been private reports of frost in Mississippi, Arkansas, Louisi­
ana and North and South Carolina. Official reports have
mentioned temperatures in Texas, Oklahoma, Mississippi
and Alabama as low as 36 degrees. Two years ago killing
frost occurred on Oct. 11. Some experienced people here
deprecate an advance at this early stage of the season, and
point out that often in the past the drift of prices at the
opening of the crop year has been downward, although re­
covering later on after the first big rush of receipts had
passed. To-day unfavorable crop reports and the fact that
the Liverpool market was much stronger than expected
caused an advance. Crop reports from various sources
stated the condition at from 59.5% to 62.9%. Spot cotton
has been more active. Middling uplands closed at 13.55c.,
a decline for the week of 2 0 points.
The rates on and ofT middling, as established Sept. 8 1909
by the Revision Committee, at which grades other than
middling may be delivered on contract, are as follows:
F air.....................c .l 50 on
Strict mid. fair____ 1.30 on
Middling fair............ 1.10 on
Strict good mid____0.00 on
Good middling____0.44 on
Strict middling____0.22 on

Middling.............c. Basis Good mid. tlngcd.c. Evan
Strict low. mid___ 0.25 off Strict mid. tinged..0.15 off
I.ow middling......... 0.75 off Middling tinged.-.0.25 off
Strict good ord___ 1.20 off Strict low mid.ting.U.75 off
flood ordinary___ 2.00 off l.ow mid. tinged — 1.75 oft
Strict g’d mid. tgd.O 35 <>nl Middling stained— 1.00 off

The official quotation for middling upland cotton in the
New York market each day for the past week has been:
S ep t. 25 to Oct. l —
Sat. Mon.
Middling uplands____________ 13.60 13.55

Tttes.
13.55

W ed. Tliurs. Pri.
13.30
13.-0 13.05

NEW YORK QUOTATIONS FOR 32 YEARS.
1000.......... C-13.55
1008.............. 9.30
1007 ______ 1 1.80
1006_______ 10.25
1005_______ 10.75
1004............... 10.50
1 0 0 3 .. ____10.25

1001..........c . 8.10 1893____ C. 8.00
10 0 0 -------- 10.88 1 8 9 2 ..
. 7.69
1890----------- 6.88 1891________ 8.69
1808...........
5.38 1 8 9 0 ..
..10.38
1897...........
6.50 1880_______ 10.88
1806________ 8.38 1888_______ 10.44
1805.............. 0.06 1887________ 9.50
6.25 1886________ 9.50
8.88 1894...........

1885.......... C .10.06
1881_______ 10.12
1883............... 10.62
1 8 8 2 .............11.56

1881........... 11.81
1880_______ 11.50
1 8 7 9 ..............10.38
1878............... 10.75

MARKET AND SALES AT NEW YORK.

S atu rd a y ..
Monday. .
Tuesday . .
Wednesday
Thursday .
Friday. . . .

Spot Market
Closed.

Futures
M arket
Closed.

Quiet, 15 pts. d e c ..
Quiet, 5 pts. dec__
Q u i e t ....... ..........- Quiet, 25 pts. d e c ..
Q u ie t .........................
Quiet, 25 pts. adv .

Firm
W ea k ______
Barely steady
S tea d y_____
Steady. ___
Very s te a d y .




Sales of Spot and Contract.
Con- Con­
Spot. sum 'n. tract.
5,666
1,127
366
754
25
7,272

Total.

'666

::::

5,666
1,127
366
1,866 2,554
1,700 1.725
4,100 11,372

©

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Estim ated.

1 0 02 _____

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IS IS IS I m I
THE VISIBLE SUPPLY OF COTTON to-night, as made
up by cable and telegraph, is as follows. Foreign stocks,
as well as the afloat, are this week’s returns, and conse­
quently all foreign figures are brought down to Thursday
evening. But to make the total the complete figures for
to-night (Friday), we add the item of exports from the United
States, including in it the exports of Friday only.
October t —
Stock at Liverpool________ bales
Stock at L o n d o n ______________
Stock at M anchester___________

1909.
623,000
11,000
42,000

1908.
269,000
12,000
25.000

1907.
558 ,000
24,000
41,000

1906.
23,000
14,000
25,000

Stock
Stock
Stock
Stock
Stock
Stock
Stock

676,000
12,000
63,000
113,000
2,000
12,000
10,000
4,000

306,000
25,000
85,000
46,000
4,000
15,000
8,000
38,000

623,000
18,000
69,000
89,000
4,000
13,000
22,000
37,000

273,000
22,000
45,000
38,000
4,000
4,000
16,000
6,000

216,000

221,000

252,000

135,000

Total European stocks_______ . 802,000
India cotton afloat for E urope.. . 39,000
American cotton afloat for Europe5 559,110
)C 28,000
Egypt,B razil,& c.,alloat for Europe
Stock In Alexandria, E gypt_____.
53,000
Stock In Bom bay, India__
. 140,000
Stock In U . S. ports_______
. 465,054
Stock In U . S. Interior tow ns___ . 247,107
U. S. exports to-day______
69,758

527,000
43,000
581,371
25,000
56,000
247,000
396,559
285,549
5,820

875,000
80,000
320,779
23.000
42,000
381,000
439,196
174,919
48,040

408,000
56,000
422,458
27,000
47,000
473,000
495,584
196,718
14,620

at
at
at
at
at
at
at

Hamburg_____________
B rem en _________
H a v r e ________________
Marseilles________
B arcelon a---------Genoa___________
Trieste _________

2,493.029 2.167,299 2,383.934 2.140,380
in and other descriptions are as follows:
A mcrican—
Liverpool stock__________ bales
.
160,000
545,000
174,000
460,000
Manchester stock------------------------33,000 18,000
34.000
22,000
. 33,000
Continental stock_______________ 186,000
137.000
150,000
76,000
American alloat for Europe______ 559,110
581,371
320,779
422,458
U. S. port stocks________________ 465,054
396,559
439,196
495,584
217,107
285,549
196,718
U . S. Interior stocks--------------‘
174,919
5,820
14,620
U . S. exports to-day____ ________ 69,758
69,758
48,040
Total American___________ . .2 2,105,029 1,598,299 1,626,834 1,387,380
East In d ia n , B razil, &c.—
74,000
98.000
. 78,000
Liverpool stock ____ ______
95,000
14,000
24,000
11.000
12,000
London stock.................... ..
3,000
7,000
7,000
.
9,000
Manchester stock_________
59,000
102,000
84,000
.
30,000
Continental stock_________
80,000
56,000
43.000
.
39,000
India alloat for Europe----23,000
25,000
27,000
, 28,000
E gypt, Brazil, A c., a llo a t..
56,000
42,000
47,000
.
53,000
Stock in Alexandria, Egypt
. 140,000
247,000
381,000
473,000
Stock 111 Bombay, India----388,000
569,000
753,000
757,000
Total East India, Ac-----Total American....... ................... 22,105,029 1,598,299 1,626,934 :1 ,387,380
Total visible supply__________ 2,493,029 2,167,299 2,383,934 2,140,380
6.14(1.
5.13d.
Middling Upland, Liverpool------7.20d.
6.53d.
Middling Upland, New York----13.55c.
11.65c.
11 .10 c.
9.25c.
10K d.
1014i\.
E gypt, Good Brown, L iverp ool.. 10 5-16d.
8 Nd.
12.00d.
8.40d.
Peruvian, Rough Good, Liverpool
8.50d.
8.30d.
6 d. 5 7-16(1.
Broach, Eine. Liverpool------------ 6 ll-1 0 d .
15-16d.
5^d.
Tinncvelly, Good, Liverpool------6 %d.
ll-1 6 d .
5 %d.

Continental imports for the past week have been 40,000
bales.
The above figures for 1909 show an increase over last week
of 303,000 bales, a gain of 325,730 bales over 1908, an
increase of 109,095 bales over 1907, and a gain of 352,649
bales over 1906.

AT THE INTERIOR TOWNS the movement— that is,
the receipts for the week and since Sept. 1, the shipments
for the week and the stocks to-night, and the same items for
the corresponding period for the previous year—is set out
in detail below.

•Si'S

S a t’day. M onday. Tuesday. Wed'day. Thursd’y. | F riday.

©00©0©00©MrHior^©00©-*rHiOr-»0©OCCO’'fCO«M»OlOCM©C'3©©©

G a lv e sto n ..........
New Orleans__
Mobile ..............
Savannah . —
C h a r le sto n ___
W ilm ington___
N o r fo lk _______
Boston _______
B a ltim o re _____
P h iladelph ia.
A u g u s t a ______
M em phis______
St. Louis______
H o u s to n ______
L ittle R ock___

©© ©©©©©rfioyt*hh tj«oo ©c o

NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:

T}<TH<3>T}«05cOOr'-<OrHr-<T-*©<»C'0<OOcOeOTfT-HTHoCTfO<OC'ir^OTt,© 0 0

U
to

Closing Quotations tor'M iddling Cotton on—

Week ending
Oct. 1.

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13 3-16
13 3-16
13 Vi
13 1-16
12 15-16
12 15-16
13 Vi
13.75
13 Vi
13.85
13 Vi
13 M
13 M
13 'A
12 13-16

S a t’day.
September—
Range ______
Closing______
October—
Range ______
Closing______
November—
R a n g e ............
Closing______
December—
R a n g e ______
Closing______
J a nuary—
Range ______
Closing--------February—
Rn.ntrn
IVUllgC
Closing______
M arch—
Range --------Closing______
M ay—
Range ............
Closing............
J u ly —
Range ............
Closing--------Tone—
S p o t----- . . . .
O p tion s-------

13 3-16
13 3-16
13 Vi
13 1-16
13
13
13 Vi
13.60
13 5*
13.80
13 Vi
13 H
13 H
13 5*
13

13 3-16
13 3-16
13 1-10
12 15-16
12 J*
12 u
13 %
13 .55
13 Vi
13 .80
13 Vi
13 H
13 %
13 Vi
| 13

13 5*
13 8-16
13
15-16 12 W
13-16 1254
12 J4
12 %
13
13 Vi
13.30
13.55
13 Vi
135*
13.55
13.55
13
13
13 Vi
13 Vi
13 5*
135*
13 1-16 13 1-16
13
13
13
13
13
12
12

Vi
3-16

13 5*
13 3-16
13
12 5*
1 2 J*
125*
13 5*
13.30
13 5*
13.80
13 1-16
13 5*
135*
13 Vi
13

1

M onday. Tuesday • Wecl'day. Thursd'y. F riday.

— @ — — @ —
— @ —
13.13 * 12.89 * 12.97 * 12.05 *
12.97-.20 12.86-.18 12.00 .10
13.13-. 14 12.90-.01 12.07 .98
—■ @ — — @ —
13.23-.25 13.02-.03 13.0?-.02

O — — ® —

12.85-.06 12.89-.97 12.98-.19
12.95-.06 12.03-.94 13.0 9 . 10
— <$ — — 9 — — @ —
12.90-.00 12.94-.96 1 3 .10-.il

13.11-.3 5 13.03 - - - 13,06-.24 12.96-.21 1 2 .0 9 -.il 13.11 - . 22
13.26-.27 1 3 .0 5 .0 6 1 3 .1 0 -.il 13.08-.09 13.04-.05 13.21-.22
12.23-.45 13.1 3 .4 1 1 3 .1 6 .3 2
13.36-.37 13.14-.15 13.1 8 .1 0
__ @ __
13.39-.41 13.17-.19 13.21-.23

13.06-.30
13.16-.17
__ @ __
13.19-.20

13.08-.21 13.20-.32
13.13-.14 13.31-.32
13 24 __i

13.2'4-.26, 13.41-.43

13.42-.03 13.31-.59 13.35-.51 13.27-.48 13.27-.S9 1 3 .3 9 .5 2
13.55-.56 13.32.33 13.38.39 13.3C-.37 13.33 — 13.51-.32
13.50-.65 13.37-.62 13.42-.58 13.31-.55 13.85-.46 13.45-.59
13.01-.03 13.38-.39 13.4 4 .4 5 13.42-.44 13.10-.41 1 3 .5 8 .5 0
— @ — — *0 .70 — @ .56 — (® .58 13.48-.50 — @ —
13.73-.75 13.50-.52 13.53-. 57 13.5i-.55 13.48-.50 13.05-. 67
Firm.
Steady.

Steady.
Steady.

0 "tet.
S ea ly.

Firm.
Steady.

Steady.
Steady.

Steady.
Steady.

* Nominal.

The above totals show that the interior stocks have i n ­
during the week 61,481 bales and are to-night 38,342
bales less than at the same time last year. The receipts
at all the towns have been 12,536 bales more than the same
week last year.
OVERLAND MOVEMENT FOR THE WEEK AND
SINCE SEPT. 1.— We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up from telegraphic reports Friday night. The results for the
week and since Sept. 1 in the last two years arc as follows:
crea sed

October 1—
Shipped—
Via C airo_______
Via Rock Island.
Via Cincinnati____
Via Virginia points.

--------1909-------Since
Sept. 1.
Week.
4,922
1,353
859
..
273
237
..
100
..
485
1,639
299
._
50
..
486
1,846
. . 1,243
4,275

Week.
3,399
2,231
143
1,703
970
581
1,262

1008-------Since
Sept. 1 .
10,925
5,038
606
3,892
1,615
1,561
4,488

14,077

10,298

28,125

785
283
1,542

1,966
889
3,950

205
502
1,087

1,650
660
4,153

2,610
Total to be deducted_________ 2,C10

6,814

1,881

Deduct shipm ents—
Overland to N . Y ., Boston, &c.. B etw een Interior tow ns__
.-

Leaving total net overland *----- -

1,385

7,263

0,463
: 1,662

* Including movem ent by rail to Canada.

The foregoing shows the week’s net overland movement
has been 1,385 bales, against 8,414 bales for the week last
year, and that for the season to date the aggregate net over­
land exhibits a decrease from a year ago of 14,399 bales.
--------- 11309---------Since
Week.
Sent. 1.
. -378,898 1,094,513
7,263
. . 1,385
Southern consumption to Oct. 1. . . 52,000
234,000

------— 11308--------Since
Sept. 1.
Week.
338,816 1,020,453
8,414
21,662
42,000
182,000

1,33 5,776
163,944

389,230 1,224,115
70,320
170,351

I n Sight and S pinners'
Takings.

. . 61,481
Came into sight during week

. .493,761

North, spinners’ takings to Oct. 1_.
. . 43,530

459,500
l",499,720
104,748

41,527

1,394,4 6 9
124,208

Movement into sight in previous years:
Week—
1007— Oct.
1906— Oct.
1005— Oct.
1904— Oct.

Sales.
4 .............................. 304,521
5---------------------- 388,442
6 . . ...............
448,095
8 -----------------------519,326

Sales.
Since Sept. 1—
1907— Oct. 4 _____________ 1 ,073,416
1906— Oct. 5 . ..................- - -1 ,345,147
1905— Oct. 6 . . ......
-1 ,695,005
1904— Oct. 8 . -------1 ,803,167

QUOTATIONS FOR MIDDLING COTTON AT OTHER
MARKETS.— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week.




WEATHER REPORTS BY TELEGRAPH.— Advices to
us by telegraph from the South this evening denote that the
weather has been dry as a rule during the week. As a result
of favorable weather, picking has made very good progress
and the crop is moving freely.
N e w O r le a n s , L o u i s i a n a . — We have had no rain the past
week. The thermometer has averaged 69.
S h r e v e p o r t, L o u i s i a n a . — Dry all the week. The ther­
mometer has averaged 65, ranging from 44 to 85.
V ic k s b u r g , M i s s i s s i p p i . — We have had no rain during the
week. The thermometer has ranged from 46 to 81, aver­
aging 63.
H e le n a , A r k a n s a s . — Picking active. There has been no
rain during the week. Average thermometer 60, highest 79
and lowest 44.
L it t l e R o c k , A r k a n s a s . — It has been dry during the week.
The thermometer has averaged 65.5, the highest being 85
and the lowest 46.
.
M e m p h i s , T e n n e s s e e . — Dry all the week; fine for picking,
which, with marketing, has made good progress. The ther­
mometer has averaged 61.1, ranging from 47 to 78.
N a s h v il l e , T e n n e s s e e . — Picking and ginning are under full
headway. We have had no rain during the week. The
thermometer has ranged from 45 to 79,.averaging 62.
M o b ile , A l a b a m a . —Cotton picking is actively progressing
but reports as to yield are pessimistic. There has been no
rain the past week. Average thermometer 6 8 , highest 82.
lowest 52.
M o n tg o m e r y ,
A l a b a m a . — Planters
are selling^ freely.
Weather perfect for picking. There has been no rain during
the week. The thermometer has averaged 65, the highest
being 83 and the lowest 48.
S e lm a , A l a b a m a . —There has been no rain during the week.
The thermometer has averaged 63.5, ranging from 47 to 78.
A u g u s ta , G e o r g ia .—There has been no rain during the week.
Average thermometer 6 6 , highest 85, lowest 44.
S a v a n n a h , G e o r g ia . —There has been no rain the past week.
The thermometer has ranged from 53 to 8 6 , averaging 6 6 .
M a d i s o n , F l o r i d a . —There has been no rain the past week.
The thermometer has ranged from 50 to 89, averaging 73.
C h a r lo tte , N o r th C a r o l i n a . — Picking is going on rapidly.
Dry all the week. The thermometer has averaged 61, the
highest being 79 and the lowest 47.
C h a r le s to n , S o u th C a r o lin a . —There has been no rain the
past week. Thermometer has averaged 6 8 , highest being 83
and lowest 54.
The following statement we have also received by tele­
graph, showing the height of rivers at the points named at
8 a. m. of the dates given:
New O rleans___
Memphis ..............
N ash v ille..............
Shreveport_____
V ick sb u rg______
• Above.

Oct. 1 1009.
Feet.

isept. 25 1908
Vert.

8.1

4.7
6.5

4.1

*1.2
8.4

4 .2

7 .2

8.7

7.0

Ocw. 2 1009.]

TH E

C H R O N IC L E

863

WORLD’S SUPPLY AND TAKINGS OF COTTON.
SHIPPING NEW S.— As shown on a previous page, the
The following brief but comprehensive statement indicates exports of cotton from the United States the past week have
at a glance the world’s supply of cotton for the week and since reached 340,760 bales. The shipments in detail, as made
Sept. 1 for the last two seasons, from all sources from which up from mail and telegraphic returns, are as follows:
statistics are obtainable, also the takings, or amounts gone
T°oLIverp00l~ Sep t- 24— Caronla, 3,767; C eltic,5,loO ^O ,067
out of sight, for the like period.
To London— Sept. 24— Minnetonka, 900___________________
1009.

^Cotton Takings,
Week.

Visible supply Sept. 24------------ 2,190,020
Visible supply Sept. 1-------------American I11 sight to Oct. 1----493',764
Bombay receipts to Sept. 30 —
8,000
Other India shlp’ts to Sept. 3 0. .
6,000
16,000
Alexandria receipts to Sept. 29.
Other supply to Sept. 29_a___
4,000
Total supply________________ 2,717,784

1908.

Season.

Week.

1,931,022
1,499,720
15.000
30.000
27.000
12.000

459,550
7.000
10,000
8.000
6,000

1,714,982
1,394,469
22,000
41.000
15.000
14.000

3,514,742 2,488,139

3,201,451

Deduct—
Visible s u p p ly .._____________ 2,493,029

2,493,029 2,167,299 2,167,299

Total takings to Oct. 1________
Of which American_________
Of which other_________

1,021,713
848,713
173,000

224.755
200.755
24,000

975
400

T°1 (898°a~ SCPt' "2 4 ” “ ®rl‘n - 3.941 :::.S ep t. 29— Hamburg,
5,842
ATTo Naples— Sept. 24— Berlin, 76611111
700
GALVESTON— To Liverpool— Sept. 27— Lugano, 5,656-IISept.’ 29
28 104
iraK, 22,538_____________ _ ____
To Manchester— Sept. 24—Telesfora, ~9,917l
» ’9 i 7
To Glasgow— Sept. 27— Rathlln Head, 68______
68
25— Beechley, 10,096_ - _Sept. 27— Monadnock, 1 0 ,4 3 2 -..S e p t. 29—Comedian, 1 1 ,7 9 8 -..
32,326
25—Spanish Prince. 1 5 .6 4 1 ...S ep t. 29—
Antonina, 5.653; Inkula, 13,778; St. George, 3,278
38,350
To Hamburg— Sept. 28— Schaumberg. 800
..........
800
To Antwerp— Sept. 29—Sklpton Castle, 5,707
5 707
To R eval—Sept. 27— Rathlln Head, 1,099
1 ooo
To R iga—Sept. 27— Rathlln Head, 6 5 0 ..
------- ----------650

1,034,152
773,152
261,000

320.840
201.840
119,000

200

."2~4—Zeeland", To"oY.VSe'pt". 28-^St. Andrew",

T°3

Season.

1,997,589

900

To Bremen— Sept. 29— Friedrich, 200­
475 mburff— Sept"24— Cincinnati, 5 0 0 -. .S ep t. 29— Biuechcr,

a Embraces receipts la Europe from Brazil, Smyrna, W est Indies, &c.
PORT A R TH U R — To Dunkirk— Sept. 29— Cambrian King, 1,666.
To Bremen— Sept. 30— Bcdeburn, 6,047
T EX A S CITY— To Mexico— Sept. 22— Norhelm. 357
................
NEW ORLEANS— To H a v r e - b e t . 1-C alifo rn ia n , 7'.800'............'
To Genoa— Sept. 30—Sicilia, 3,460_________________ ________
MOBILE— To Havre— Sept. 28— Merchant. 9.159
SAV A N N A H — To Liverpool— Sept. 27— Palatina, 11.126
To Manchester—Sept. 29— Cundall, 2,598
T°i11,300 — vepV
, 5o ~ ^Sophie
ay? ,So&V
,8 '6a9 - -8,714
- Sept . 29— Reifance,
Sept. 230—
R lckmtrs,
To Bremen—Sept. 25— Knutsford, 3 ,7 1 4 .. Sept. _28— SteTnberger. 8,286; Conway, 5 . 5 6 3 .. . Sept. 29— Adrla, 6 , 8 5 9 ;
Lord
1+0 ,7O8Q4 .. .S.........
ep t. 30— Florida, 5 ,8 7 1 ..
I «»»■>•)Roberts,
hlirrf Sept.
............“
ToI T
Hamburg—
28—Conway, nnn
200.
’
To Antwerp— Sept. 30— Northfleld, 3 ,4 5 0 ..
..........I
To^Gothenburg— Sept. 28—Conway, 2 0 0 . _.SeptVaO— Florida",

— A telegraphic cipher code, to be of greatest service,
must not only be comprehensive, but at the same time easily
workable. This want seems to be fully met by the Volpi
series of codes published by the Volpi Code Co., Singer Bldg.,
New York. The company have already issued a General
Code and a Cotton Code in two parts, and they have in
course of publication codes for the use of bankers and stock­
brokers and for the grain and coffee trades. It would be
difficult, if possible at all, to compile a code more fully suited
to the requirements of the cotton trade than the one we have
been privileged to examine, and it has an added value in
that it is adaptable to the Roussel Undecipherable Code
system.

To Malmo—Sept. 29— iJord"Ro’be’r ts,’266 11111111"
To Christiania— Sept. 29— Lord Roberts, 100.
To Barcelona— Sept. 24— Homewood, 2 ,9 0 0 ...S ep t.
vlca, 2,625____________
To Warburg—Sept. 30— Florida, 50__________
To Genoa—Sept. 25— Anna, 2,450 ___
To Gelle—Sept. 30— Florida, 2 0 0 ______
_
To Trieste— Sept. 29— Lodoviea, 2 ,1 4 9 ...........
To Flume— Sept. 29— Lodoviea, 4 5 0 ..
To Venice—Sept. 29— Lodoviea, 600_______. . .
To R eval— Sept. 30— Florida, 50____________
' “ ....................................

INDIA COTTON MOVEMENT FROM ALL PORTS.
September 30.

1909.

Receipts at—

Week.

Bombay__ ............. .............

8,000

1908.

SinceSept. 1.
15,000

1907.

Since
Sept. 1.

Week.
7,000

Week.

22,000

Since
Sept. 1.

8,000

39,000

ljoOO
6 047
7 800
- .4 6 0

o ’lf.o
l l ’l26
£ 598
28’ 713
’
41 077

200

3,450
400

..........
...............
29— Lodo-

5,525
„„
50

_________
.

2 450
’ 200

_
_

20 0
100

2 149
450

600

50
200

5,300
.021

For the Week.
from—

Great Conti- Japan
Hritain. ncm. &CMna Total.

Great
lirltain.

Contivent.

<tk China j Total.

Bombay—
1909........
1908.........
1907.........
Calcutta—
1909____
19 0 S ..........
1907........
Madras- 1909____
1008.........
1907........
All others..
1909.........
1908 . . . .

2.000

5,000
3,000
—

5,000
5,000

2,000
2,0001
3,000

20,000
26,OOO,'
12,000

2,000
2,000

Total all —
1909____
1908........
1907____

__ _ 8,000
4,000 15,000
24,000

2.000 10,000
8,000 27,000
—
24,000

4,000
4,000
4,000

41,000
04,000.
86,000!

loiooo
23,000

___ 2.000
—
9,00(
23,000
—
___
1,000
—

__ _
___
1,000

1.900
___

1,000
3,000
___

ALEXANDRIA

2,000 4,00(
8,000 17,001
__ 23,000

To
To
To
To

...........
1.000
1.000,
1.000

1,000
4,000

1,000

15.000
29,000
60,000
2,000
4,000
5,000
4,000
5,000
3,000

AND

8,00( '
14,001
21,000

24,000
43,000
87,000
3,000
5,000
6,000

...........
1,000

Total

------------- -------------

5,000
6,000
3,000

Sent 10 .
. 83,000
- 1,000
- 2,000
- 66,000
- 6,000
- 69,000
-781,000
. 686,000
. 19,000

22,000
30,000
17,000

0,000

84 000

113,000

Of which American.

. 34,000
. 13,000

SHIPMENTS.

1908.

1907.

110,000
206,921

55,000
108,544

185,000
358,808

This
Since !! This Since
Week. jSept. 1. | Week. Sept. 1.

Liverpool___________
M anchester_________
C o n tin e n t__________
America___ __

4,000, 8,608
___ 1
500
4,500 14,419
400| 1,649

! 3,250 4,750 1 10,543
1 1,500 ! 4,000
5,080
3",66oj 13,451 3,250 10,728
700
200
850

Total exports________

8,900| 25,170

3 ,000

18,001 ,12,200

Seat. 17.
80,000
1,000
1,000

69.000
7,000
63,000
722,000
630,000

Seat. 24.
66,000
1,000
1,000

49,000
4,000
65,000
676,000
584,000
23,000
9,000

11,000

3.000

66.000

112,000

40,000

92,000

Oct. 1
6 6 ,0 0 0
1,000
1 ,0 0 0

58.000
5,000
71.000
623.000
545.000
23.000
2 2 .0 0 0

198.000
170.000

The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:

1909.

This 1 Since
Week .S e p t. 1 ,

------------------------------------------------------340,760

LIVERPOOL.— By cable from Liverpool we have the fol-

Spot.

Receipts (cantars)—
This w e e k ______ . . .
Since Sept. 1_________

Exports (bales)—

1,000

1.00C
1,000

RECEIPTS

M exandria, E gypt,
September 20.

WILMINGTON—To Liverpool—Sep t. 29— Gymeric," 13.664
13 664
„^o3!?.4Van^ hc,s tcr~ SePt -„28— VauxhaM Bridge, 11,938____ I I I ! 11,938
BOSTON— To Liverpool— Sept. 27— Michigan, 1,166. Sept 28—
Devonian, 1 ,1 0 0 __ __________________ ____
2 266
To Manchester— Sept. 24—Caledonian, 1,5011111II
i ’r>6 l
.T o S t.jIohn— Sept. 23—Calvin Austin, 213________________ ’ 213
166. _ m r
1.100
...............
100
-------------- 1,899
-------------351

Since September 1.

27,207

Market,
12:15
P. M.

| Saturday.
)
}•! Quiet.
J

Mid. Upl’ds1;

Monday.

Tuesday.

Good
! demand.

Moderate
demand.

Fair
business
doing.

Fair
business
doing.

Friday.
Moderate
demand.

7.28

7.36

7.24

7.33

7.36

7.29

8.000
500

12,000
500

15,000
500

15,000
600

15,000
500

6,000
500

Steady,
un­
changed

Quiet at
3@4 pts.
decline.

Quiet at
1 point
advance.

1 Easy at
Easy at
Steady at Easy.H pt. Steady at
10)4@8 pts. 7 )4 0 9 pts. 4 )4 0 6 pts. pt. dec. to 2 )4 0 4 )4

Quiet at
5©6 pts.

S ales.........
Spec.&exp.

Futures. Barely sty.1Irregular at Steady at
Market 1 at 2 @4
10 points 11 points
opened
J pts. dec. advance.
decline.
Market,
4

Wednesday. Thursday.

P. M. J decline.
advance.
decline. 3 pts. adv. pts. dec.
advance.
MANCHESTER MARKET.— Our report received by
cable to-night from Manchester states that the market is
The
prices
of
futures
at
Liverpool
for
each
day
arc
given
firm for both yarns and shirtings. Spinners are considered
to be well under contract. We give the prices for to-day be­ below. Prices are on the basis of upland, good ordinary
unless otherwise stated.
low and leave those for previous weeks of this and last year clause,
The prices are given in pence and lOOths. Thus, 7 06 means 7 OG-lOOd.
for comparison.
Sat.

1908.

32s Cop
Twist.

8H lht. Shlrt- Cot'n
Ings, common Mid.
to llnest.
Upl's

32 s Cop

Twist.

d.
OH
®
9 3-1(1 0
9 5-10 0
9 7-10 0
9)4
®
9H
0

4 10H @9 3
4 11 <5*9 4
10 5 0 @9
1 <o)9
10H
10 >i
1)4 @9
2
<5VJ
10 H




6.07 8
0.73 7 )4

8 )4 lbs. Shirt-

ings,, common
to finest.

d. s. d.
®
@

6.88 7 H

9 4 10
m 4 9

Cot’n
Mid.
Upl's

S

s. d.

d,

<3)7 10)4

6 .5 9
5.2 5

.)

@ 7 10

C
I
I

@
0 83 7 1.) -16®
6.93 B
,0
7.31 8)4
0

8 H 4 9 @7 10)4
9 4 10 m
0
9
1 10R;@ 8 1)4
9 H 5 1 @ 8 4 )4

5.2 5

S

5.51
5 .3 3

J

7.29 8 H

OH '> 1)4 @ 8

5 .13

0

4 )4

5.47

Sept. 25
to
12H
Oct. 1. p.m.

t
t

J

d.

7
6
6
6
6
0
6
6
6
0
___ 6
— 6

12M
p.m.
d.
06)4
98)4
95
92
92
91)4
01
91
91
01
01
88)4

Mon.
12)4'

4

Tues.
|12H| 4

W ed.
1 2 )f

4

Thurs.

Fri.

12)4 4 12 H 4
p.m. p.m .'p.m .'p.m . p.m . p.m. p.m. p.m. p.m. p.m.
d.
d.
d.
d.
rf.
d.
a.
d.
16
15)4 03)4 11
16
08
07 H 95 01 H
02
02
03
07
04 H 04 |91 H 98
06 H
97)4 01)4
00 H OOH'88
93
92
94 H
94
98
00 H 00HA7H 94 %
02)4 92
93)4 97
00
99)4 87
91
93
91 H
96)4
99 M 99 86
22*
00
93 H 00
91)4 95)4
99 )4 98 H 86
93
93 H 00
89)4 91
95
99 H 98H '86
93
03 H 90 89)4 91
94)4
99 H 98 H |86
93
93
89)4 89
04
90)4
99
S8 HI86 93
93 )4
92 H 89 88 H 90
97
96 H 84
90 86
90 H
85)4 88
91

PORTO RICO COTTON CROP.— The production of
cotton (Sea Island) in Porto Rico in 1908-09 was of smaller
volume than in the preceding season, and materially less
than in either 1905-06 or 1904-05. As a matter of record,
we give below the statistics for the last five seasons as
secured from official sources:

1908-09. 1907-08. 1006-07. 1905-06. 1904-05.
Bales.
Bales.
Bales.
Exported to—•
Bales.
Bales.
1,513
747
223
To New York, &c-------------280
521
569
692
360
To Great Britain & Contln't
208
117
2,082
1,439
583
638
Total crop_____________
488
236,313 218,226 587,802 834,660
Total weight, pounds____ 174,309
400.90
415.43
374.31
370.40
Average weight per bale— 357.19
AMOUNT IN S I G H T . — Supplementary to our Annual

.Cotton Crop Report, and at the request of a number of
readers, we give below a table showing the amount of cotton
which came into sight during each month of the cotton season
1908-09. For purposes of comparison similar results for
1908-00.

1907-08.

1906-07.

1905-06.

September ...................
October------------------N o v e m b e r -------------December -------------J a n u a r y ............ ...........
February __________
M arch_____________
A p r il..............................
May ---------------------June — ----- ----------J u l y ..........- ..................
A u g u s t------------------A d d itio n s.^ ------------

1,274,257
2,462,322
2,528,850
2,280,139
1,427,091
971,135
709,419
569,086
541,648
337,035
277,020
338,910
111,925

868,888
1,807,538
1,921,462
2,003,975
1,554,094
969,101
700,586
467,218
349,952
366,261
290,709
319,143
fc37,098

1,019,761
2,301,208
2,368,003
2,219,638
1,751,608
1,200,056
957,256
589,157
400,638
244,842
212,633
255,854
30,104

1,328,120
1,925,170
2,105,179
1,581,799
903,997
' 728,231
647,551
556,235
490,880
318,017
288,117
403,166
42,498

Total crop------------

13,828,846

13,581,829

M onths.

13,550,760 | 11,319,860

" a "Additions” Include all corrections In port receipts and overland made
at the close of the season, as well as the excess*in Southern consumption
as shown by the actual results. This total Is Increased or decreased by
Interior town stocks, fc Deductions.

DOMESTIC EXPORTS OF COTTON MANUFAC­
TURES.— We give below a statement showing the exports of
domestic cotton manufactures for July and for the seven
months ended July 31 1909, and, for purposes of comparison,
like figures for the corresponding periods of the previous
year arc also presented:
Quantities of Manufactures of
Cotton (colored and uncolored')
Exported to—
United Kingdom....................... yards
Germany.......................................
Turkey In Europe.......................
Other Europe...............................
British North America.........- - - , ,
Central American States and British
Honduras....................... ..........
Mexico ____________________
C uba...............- ......................- .........
Other West Indies and Bermuda.. .
Argentina----------- ---------------Brazil...........................—.............
Chill .............- ............................Colombia .............- ......................
Ecuador................ — ..................
Venezuela----------- ---------- ----Other South America.................
A den.....................- ------- -------Chinese Empire............................... British East Indies...............- - ­
Hongkong ...................................
Japan............................................
British Australasia-------- -------Philippine Islands.............................
Other Asia and Oceania...................
British Africa.....................................
All other Africa...........................

Month ending July 31 7 Months ending July 31
1909.

1908.

181,559
2,740
133,563
50,578
800,205

232,449

2,293,950
123,165
1,625,065
3,433,550
121,320
157,894
904,592
855,343
88,999
626,225
913,613
1112,500
15,188,956
1,455,600
48,106
22,001

689,012
198*639
1,662,770
176,683

1909.

1908.

201,884
85,560
512,158

1,163,503
26,853
766,555
347,211
5,443,203

1,448,399
22,801
763,217
536.202
3,389,889

2,851,575
95,827
1,735.86)
2,729.555
62,156
139,478
616,735
791,062
174,204
666,172
555,291
2,454,050
12,875,988
510,000
74,730
19,953
623,919
1,667,969
316,222
965,898
345,374

17,335.117
1,145,681
13,624,353
24,026,834
1,028,483
1,492,320
5,378,291
9,435,440
1,542,493
3,116,314
4,796.090
12,972,050
110,141,920
6,617,663
578,966
67,858
4,777,597
6,305,136
1,604,385
5,654,005
1,305,595

15,519,962
1,057,668
7,185,740
15,345,988
479,102
1.131.817
4,546,019
5,399,759
685,024
3,028,589
3,670.041
14,680,432
47,477,203
3,983,090
238,672
166,853
4,011,447
5.421.818
1,278,197
2,533,206
900,868

240,753,910 144,802,003
Total yards of abovo...................... 31,866,628 31,304,078 $14,304,973 $9,415,619
Total values of above.................... -- $1,929,216 *1,828,559
$.0650
$.0594
$.0584
$.0605
Valuo per yard.......................... ..........
V a l u e o f O th e r M a n u f a c t u r e s
o f C o tt o n E x p o r t e d t o —
W e a r in g A p p a r e l—

10,969
6,966
51,877

$382,811
1,609
53,198
33,500
837,372

$544,782
806
72.807
29,264
580,398

46,217
16,518
19,862
9,997
6,532
7,353
4,892
15,366
8,186
16,424

364,668
160,722
224,758
102,044
50.496
11,933
4,813
205,786
84,625
242,110

272.553
171,037
100.878
69,11
42,659
30,132
18,440
144,995
107,445
107,848

$81,576

$97,837

624
(2,043
116,316

Mexico ................................... ..............

66,801
16,322

Other West indies and Berm uda.. .
South America.........................
Chinese E m p ire......................
Japan................- .........................
British Australasia..................
British A frica...........................
Other countries......... - ............

17,939
10,853
992
55
27.370
4,514
13,140

United kingdom .................................
Belgium ......... - ......................................
Germany
------- -----------------------Other Europe......... - - .......................
British North America— - - - - - - - Central American States and British

Honduras.......................- .............

27,812

$196,709 $212,064 $1,143,088 $1,571,373
Waste, cotton.
264,391
280,235
37,637
28,155
Y a r n .........- - ­
204,669 2,082,473 1,715,713
288,071
All other.........
$15,320(25
Total manufactures of...................$2,828,508 $2,601,925 $20,571,220

BREADSTUFFS.

1 1909.
Prices for wheat flour during the week have as a rule been
steady with the trading so dull that quotations have coninued to be in the main merely nominal. 1 he aloofness of
>uycrs is traceable largely to the belief that the big leceipts
>f wheat and the fact that the crop is estimated at consideriblv more than the previous yield must sooner oi later bung
ibout lower prices for wheat and thus carry flour prices down
llso
At the big milling centres of the Northwest large
/•lies have been made of late and the output of the nulls
here is heavy. Rye flour and corn meal have been quiet
F r i d a y , O c t.

^ W heatf although it advanced about 18 cents on September
[it Chicago, owing to a corner at the eleventh hour, has




shown little life or snap so far as other options are concerned.
Even the sensational rise in the September option had little
effect on other months. Things which have militated most
seriously against any sustained advance have been large
receipts, favorable crop reports from the winter-wheat belt
and from parts of Europe and Argentina, and a continued
absence of export demand. Russian shipments have been
large. The world’s shipments last week reached 11,632,000
bushels, against 10,544,000 in the previous week and
11.120.000 for the same week last year. Not only have
spring-wheat receipts been large but they have shown a ten­
dency to increase. Northwestern stocks are rapidly augmen­
ting. The world’s stock has increased within a week 5 , 7 5 2 , ­
000 bushels. Argentina has sent very favorable reports. The
prospects in that country have greatly improved, owing to
the fall of timely rains. The Paris “Bulletin dcs Halles”
estimates the French crop at 331,200,000 bushels, against
293.600.000 last year. On the other hand, it is to be ob­
served that prices of most deliveries have not given way
much; at times, indeed, they have advanced moderately.
Many operators are in a quandary. The market really halts
between two opinions. Minneapolis dispatches report a
brisk demand for flour and millers are buying cash wheat
there. Southwestern receipts have been comparatively
light and cash premiums there are steadily maintained.
Though Northwestern stocks are increasing, the increase is
not quite so rapid as had been expected. The Argentine
acreage is said to be somewhat smaller than that of last year.
Cash prices at both St. Louis and Minneapolis have been in
the main firm. But the European markets have been rather
heavy, while at times Liverpool prices have shown pro­
nounced weakness. Europe, too, is buying from America’s
competitors rather than from America, and at the same time
the crop in this country is about 7 5 ,0 0 0 , 0 0 0 bushels larger
than last year. To-day prices advanced early on strong ca­
bles, small Argentine shipments and active covering, but
reacted later on heavy receipts and liquidation.
DAILY CLOSING F H .b c S OF W HEAT FU T U R E S IN NEW YORK.
No 2 red f o b
_____Nom. Nom. Nom. Nom . Nom. Nom.
Seotem ber delivery Tn"elevator____ 110 % 109 % 110% 110% 108% - - - - ­
December delivery In elevator____ 106 % 10711 108 % 107 A 107 A 107%
May delivery In elevator__________ 108 'A 108 % 109 % 109 A 108 A 108 A
DAILY CLOSING PRICES OF W H E A T S T O R E S m CHICAGO.
120 - - - - September delivery In elevator------- 102% 103 % 105% 106
December delivery In elevator------- 98% 99% 101
100
00 A 00 a
102% 103% 102% 1 0 2 1 0 2
May delivery In elevator_________ 102

Indian corn futures in the local market have been nominal.
At the West the speculation has been active. The tendency
of prices there has been downward in the main, owing to
favorable crop reports, weakness in Liverpool and a dull
and heavy cash market. Reports from many sections of
the country show that a large percentage of the crop is safe
from damage by frost and, although frosts have occurred
on several days during the week, they have had no effect
upon the price. At times rallies have occurred on covering
of shorts. Elevator interests have sold freely. The country
has shown more disposition to sell. Some crop estimates
have been increased. To-day prices opened firm on the
early strength in wheat, but soon declined on free selling
by the country, favorable crop reports and selling for short
account.
DAILY CLOSING PRICES OF NO. 2 M IXED CORN IN NEW YORK.
Sat. M on. Tues. W ed. Ih u r s . F ri.
__ _ . _________76 Vi
7 0 ^ 75
75
74
72

Cash coni

158 ?SS

«n

DAILY CLOSING PRICES O F ^ O R ^ F U T O B M ^ N C H ICAGO,
September delivery In elevator.........64%
December delivery In elevator------ 58%
May delivery In elevator------------- 60%

65 % 65%
0 8 % 59 %
60% 01%

64% 61%
. 8 /8 o7 0
00% w n

-- —
WA
ova

Oats for future delivery in the Western market have been
irregular. A squeeze of the shorts in September on the
last day of the month imparted a firmer tone to later posi­
tions. Buying, however, has been discouraged by steadily
increased supplies, which are now much larger than a year
ago. Receipts have been in excess of the demand and cash
pfices at the West have latterly weakened. Cash interests
have sold futures rather freely at times. To-day prices were
somewhat firmer on a larger cash demand, buying by cash
interests, light offerings and covering.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Sat.
M on.
Tues.
Wcd._
Thurs.
F ri.
WhU?‘clipped--------143-47 % 43-47 % 43% ‘-18 43%-48
D U L Y CLOSING PRICES OF OATS FU T U R ES
S at. M on. Tues.
September delivery In elevator-------39 % 40 % 41 %
December delivery In elevator-------8% 38 % 30%
May delivery In e le v a t o r .................. 41 A 41 A 42 %

432%-48 *43 %-48
IN CHICAGO.
Wed. Thurs. F ri.
44 % 48
38 % 38 % 38 %
41% 41% 41 %

The following are closing quotations:
FLOUR.
5j? Kansas straights, sa ck s.$u 00@ $5 ou
o do Kansas clears, s a c k s.- - 4 40C<9 04 60
5 15 City paten ts..................... 0 30
4 45
4 80 Rye flour, bb ls________ 4 15
4 40
5 50 Graham (lour....... ..............4 lo
3 65
5 20 Corn meal, kiln d r ie d ..
4 75
GRAIN.
_
Corn, per bushel—
Genis.
W heat, per bushel—
No. 2 m ixed............. - - -e le v . J.*,
N. Duluth. No. 1 - - 5} 00 4
No. 2 y e llo w ............. I.o.b Nom na
1.07 A
N. Duluth, No. 2 ------No. 2 w h it e ________________ i.o .b . Nominal
Red winter, No. 2 - -I.o.b Nominal
Ryo, per bushel—•
n
Hard “
" ----No. 2 W estern----------- J 9 ,
Oats, per bushel—
State
and
Jersey............
Natural w h ite ........... - -42 % ®45% Barley— Malting- - - - - - - - Nominal
White clipped-----------Feeding, c. 1. t., N . \ . 58@60
M ixed-------- -------------.41 %@42
Por other fables usually given here, sec page 821.

Winter, low grades----- 54
Winter
vvillbui patents,
paiGnio, n e w --— --5 50M
-r ”
Winter straights, n e w .- 4 9o(^
Winter clears, new ----- 4 dow
Spring patents......... - - - 5 4o®
Spring s tr a ig h ts .-..........4 96W
Spring clears--------------- ‘

Other countries

.........

gQ2

14,050

636
264

30,005
15,137

, **^*^*$1(5,242,147
^t1
~
been
in 1909, against
$8,541,737 in 1908.. T ‘has
.Many lines of domestic cottons have been advanced, but
business in the aggregate has been moderate. Southern
brown sheetings, standard, are Me. firmer at 7 % to 7 Me
and 3 and 4-yard sheetings are M to Me. higher. Standard




Total

Total

The visible supply of grain, comprising the stocks in brown drills are also up Me. from last week, while the
granary at principal points of accumulation at lake and sharpest advance has been in denims, which are now quofed
seaboard ports, Sept. 25 1909, was as follows:
at I3M to 16c, Bleached goods have ruled firm, but the
AMERICAN GRAIN STOCKS.
trading has been irregular. Staple prints have been selling
Wheat,
Com,
Oats,
Barley,
Rye,
bush.
bush.
bush.
bush steadily subject to April 1 dating, and a fair business is
bush.
Now York................. . . 690,000
71,000
733,000
30,000 said to have been placed for delivery during the latter part of
7,000
B oston...........................
1,000
74,000
13,000
1,000
the current year; a shortening of discounts is noted in some
Philadelphia________
118,000
3,000
92,000
"l",666
Baltimore...................... 514,000
121,000
684,000
54,000
quarters, which is taken to indicate an advance in prices
New Orleans............
272,000
117,000
158,000
before long. Coarse, colored cottons are firmer, and while
Galveston.................
224,000
11,000
___
Buffalo .......
555,000
293,000
816,000
380,000 the manufacturing trades have been buying moderately for
50.000
Toledo .................
912,000
32,000
466,000
1,000
40.000
future requirements, the volume of new business has not
Detroit ...............
285,000
169,000
212,000
49.000
Chicago ...................
873,000
454,000 4,504,000
7.000
been large. In ginghams buyers have been willing to oper­
107,000
184,000
Milwaukee_____ 121 000
79.000 ate at old prices, which mills as a rule have not been willing
10.000
Duluth_____________ 3,265,000
36,000
495,000
96.000 1,290.000
Minneapolis ________ 1,536,000
17,000
796,000
343,000 to accept, and some leading lines have been withdrawn;
62.000
St. Louts.............
1.568,000
50,000
346,000
14.000 stocks^ of staple ginghams in jobbers’ hands are reported to
4.000
Kansas City_________ 1,651,000
56,000
293,000
be quite sufficient for the present. In the export division,
Peoria_____ _____
16,000
72,000 1,014,000
433,000
109,000
313,000
Indianapolis . . . _____
miscellaneous ports have taken small lots; trade with the
On Lakes.......... ............ 2,593,000
515,000
430,000
852,000
27,000
rar East, however, has continued dull. The print cloth
On Canal and lU vor... 903,000
50,000
243,000
20,000
market has been active under an increased demand from con­
. 16,460,000 2,360,000 11.792.000
407.000 3,010,000
.13,325,000 2,231,000 10.351.000
360.000 2,236,000 verters and printers, and prices, especially of gray goods,
have ruled firmer; regulars are quoted unchanged at 3 Mc.;
CANADIAN GRAIN STOCKS.
Wheat,
Corn,
Oats,
Rye,
Barley, - 8 -inch 64x60s are slightly firmer at 3 } ^ c . and standard wide
bush.
bush.
hush.
bush.
bush goods are higher at
to 5 Mc.
222,000
62,000
224,000
...........
59,000
. 2,757,000
...............
WOOLEN
GOODS.—The
men’s wear market has con­
2,111,000
tinued quiet pending the result of the clothiers’ canvass for
600,000
orders for next season; preparations for the next fall season
Total Sept. 26 1009 . 5,GOO,000
62,000
...........
59,000 are being made, but there is some uncertainty as to whether
224,000
3,575,000
91,000
227,000
...........
56,000
heavy or medium-weight fabrics will be most in demand.
SUMMARY.
Wheal,
Corn,
Oats,
Rye,
Barley, I erhaps the most important development in the men’s wear
bush.
bush.
bush.
bush.
bush.
American _ ..
16,400,000
2,360,000 11,792,000
407,000 3,010,000 market is the fact that revisions and cancellations have
5,690,000
62,000
224,000
...........
59,000 greatly reduced the amount of initial business placed; the
rejections have included both woolen and worsted goods,
Total Sept. 25 1909.22,150,000
2.422.000 12,016,000
407.000 3.039.000
Total Sept. 18 1909.16,900,000
2.322.000 10,578,000
360.000 2.292.000 and it is stated that among a large number of manufacturers
Total Sept. 26 1908.29,924,000
3.527.000
822.000 5.338.000 the initial business booked has been reduced on the average
6.629.000
Total Sept. 28 1907.43,750,000
3.799.000
5.507.000
633,000 3.127.000
Total Sopt. 29 1906.33,352,000
4.178.000
th,e primary dress goods market considerable
8.833.000 1,545,000 2.398.000 50%activity has been noted in worsted diagonals, which have
been
taken
quite freely for next spring. Broadcloths have
THE DRY GOODS TRADE
also continued in good request, and duplicate orders have
N e w Y o r k , F r i d a y N i g h t , O c t. I 1909.
been received in somewhat larger volume for the best-selling
The cotton goods market lias displayed a much firmer tone worsted fabrics. Demand generally, however, for the presduring the past week, advances having been named on gray ent season and also for spring has been below expectations.
goods, brown sheetings, denims, drills and other staples, Owing to the advance in the cost of raw material, noted at
but oven at the new prices sellers have not been disposed to the recent foreign wool sales, advances on a number of lines
accept orders freely for distant deliveries. Some large buy­ in the near future would occasion little surprise.
ers have been willing to make substantial commitments at
FOREIGN DRY GOODS.— Imported woolen and worsted
old prices, but such offers, needless to say, have as a rule fabrics have been in fair request. Linens have continued
been turned down, and on forward business agents quite strong and active, with a further readjustment of prices on
generally have been disinclined to do business more than a numerous lines in sympathy with the strength in primary
month or two ahead. In the primary market the gray goods markets abroad. A fair business has been done in burlaps
division is about the only one that has shown much activity which arc quoted unchanged.
converters, printers and some jobbers have been taking fair
quantities of goods for early spring delivery, as well as for Importations and Warehouse Withdrawals of Dry Goods.
shipment during the balance of this year. The advances
The importations and warehouse withdrawals of dry goods
that have been named have of course brought prices nearer at this port for tire week ending Sept. 25 1909 and since
the level of high cost cotton, but they are still below a parity Jan; 1 1909, and for the corresponding periods of last year
’
with the present quotation for the staple. The raw material are as follows:
*vA
«
ft s
situation has continued a serious problem for the mills, and
a
k
k
there has been further talk of curtailment. There have been
rt) o s aagi^B
o‘ c
» pS o c
evidences that buyers are coining to appreciate more fully
3a t£
S.P
sa p
p
i o 2-p
g i i Hi £>
the situation that confronts producers, and many are conP i i Di £
; c
oi ^<-►
.
! 3: : : : g
vinced that prices are likely to go higher rather than lower;
p
c ; ; ; ; m
j et
C« 1 1 l O
i
* i $
S*
at the same time, most buyers have continued to hold aloof.
; co i • i i co
c* 3 | : : ; : : o
; o
, ; ; ! ; o
le pinnary market as a whole, as well as the secondary
i • i i i ;
2 I §
1 1 l • i
Bp
: L
market, shows considerable irregularity, and the outlook is
! i i i » i
5 to
i 1 i » i
by no means clear Among jobbers trade in finished cottons
w
o
has been only moderate; goods have been offered at figures
B
a
a
O
considered attractive when compared with the present cost
o
d
ft
of the staple, but retailers have confined their purchases
ft
c-i w- ceu ft
©
C
CD'I
ft
taoiAjo
largely to immediate or near-by needs and have not shown
■*» -I -I X«
eIO
>-*i *t«-*C
ol| oit*
00
tD C
M
lM
-I •- to ©w
A
t
o
I
C
D
C
D
it*W
©A
O
C
Ocifc
OS
much disposition to anticipate requirements, even on staple
fabrics. In local jobbing houses the .volume of business
ci tq
M
done during the week was also restricted somewhat by early
to "-10O0506 ft
-J—Cl OSOo ©13—
.
C
J
O
o
c
o
C
s
a
.
closings on account of the IIudson-Tulton celebration
In
OiMNCl Cl» £ o 2“•s! O
00
oo
!-*© «©
©- -© 5 = 5
c*
CO ©
-©
-©- -©-os
0C5ll 0C
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men s wear and dress goods markets business has been rather
■
CI
o
o
C
O
to Cl O
C
0
5
—
C
5 cOoOto
C0I©
u oft
©©tDtsa
CI05 Cl05O“40°
light; it now appears that many orders, especially for men's
w
wear, placed in the early part of the season have been can­
D
-J
©O
tD
CD
*S
_
Cc *1 OC *J tD
!C
l p
I OOMM
celed, and it is quite evident that such cancellations have
05S C
05» 00
IJ►
05-*A
«.),
^1 eo to Oo Oo Ci 00
O
o
os
o
s
©
O
s
O0C5D Otj A) ®M
in many instances reduced the initial business to very small
o
M05C OsoD
-J
proportions.
OStOCO 0503 IC
55 w
C
S
©
.
©
©
l-~
'f
"
5
MCJos to it*
DOMESTIC COTTON GOODS.— The exports of cotton
tj OsOs©Os
©
0•-*
5 -i k: c,i it. i.
oo Vi co Vj co
goods from this port for the week ending Sept. 25 were6,232
to
i-*©
CO*fj-»
I©
—
*it*
H*O
OS
sIO
s©
(—
• 3
©
toOO
OCCi ©
t\j £*■ to
D
G
OC
S- *0-I
05c-o*
packages, valued at $225,358, their destination being to the
'<uVj -1 ClO
S
0
5
©
ci
^
©
d *"*
C
O
O
s
o
o
O
-1 cl
C
5
-I
o ,U *•! M c:
points specified in the table below:
O
©it*
CIit*
o
to 05 “1 COC
OC5
0®
0IN
—
-O
Cl G
CO
ici
I—
-H
17 ^ ft
©sJO
*S©
ft
ft
-1 9 0 0------1908------w
C
S
-I
M
Ij
^
2
o
©►
it*
0C I-* • © ft
Since
New York to Sept. ZT,—
We k T ®ir\ce
©
*
O
s
0c©
e
A
>
-e
-i
rs
Week.
J
a
n
.
1.
>
Great 11rltain_________
ivecA - ,-'n" y ■
“ rip
ci
os | i; A
uA
mei m o ©
12
-^
© *-* C5 £- i—
* © ID
©
OS*so*os
©©
612
Other European.......
1,2o?
MC
]O
OC
ol
ceS!iI m
tD
.M
©IC
>C
D
00 ©© a
C
©
10
805
CI5I C
t oojO
O
—
O
-IC
l ooO
S
©i ©
© cc orcs
222
Tn"U --------------------165.321
18,342
ft
12
7,704
f f l a : : : : : : : : ; : ; : : ; : ; ; ---------- -------- ,
12.507
23,024
23,592
to itA fr ic a --------------------------- : : :
J
COO
ci I ©^
i-©oo £>
'Dtj
CI►
C
11,989
"88
7,202
[ It;
c1 w
t-*
West Indies___________ .
....... - TiR
0O
5itit*
I©
C5©: |1 ->
l1©
-i OoiC
C5
30,612
tsoi-ctsw :
514
18,444
.Mexico__________________
M
J.
o
[J
u
oo
r
«
j
cd rs © ft
1,218
17
I
co
oos
I
1,242
W»LI
Central America__________
2i i
ts C5M
© ©Oo Os-Id ;
10,365
cM00C
CD
lO
277
11,695
I tD
-I C
tDCJ ft
I CDGC © a-*
.South America_____________
' 2rr
39,000
to C O
ccc.t»
05tsjiU
05COi—
00
•I -1 00
o>00

CC
to5
is

t O
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O
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it*
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ft —

P a g e.

N am e.

R a te.

M a tu r ity .

A m o u n t.

P ric e.

100
$ 8 ,0 0 0
G1.3 . . J a y C o u n ty , I n d - . . . .......................4 A
1 0 3 .2 0 4
2 2 ,0 0 0
4 2 6 _ - J e lI e r s o n C o u n ty , O h io ....................4 H
1
0 3 .6 0 9
2
1
,0
0
0
1
9
1
0
-1
0
2
5
5 5 1 - .J e t l e r s o n C o u n ty , O h io ....................4 M
100
15,1
0
0
•1 2 & 1 4
7 3 9 - Jc h m e n b u r g . P a . ................... ........a l t l l
1 4 .0 0 0 4 H % h a s
5 5 1 - - J o h n s o n C r e e k , W i s -------------------5
1 4 .0 0 0
1 0 5 .6 3
1 0 2 7 -1 9 2 9
304. .
J o h n s t o w n , N . Y . . . ----------- 4 A
M U N IC IP A L BO ND S A L E S IN A U O U ST.
7 .M 0
100
<m 1 9 - 1 0 9
0 0 0 . .J o n e s t o . C om . S c h . D ls t., r e x . 5
6 ,0 0 0
1 0 2 4 -1 0 4 9
7
4
0
.
.
K
a
u
fm
a
n
,
T
e
x
-----4
A
We present herewith our detailed list of the municipal bond 551 . . K e r n C o u n ty , C a l............ _
1 0 6 .1 5 8
5 5 .0 0 0
5
1 6 .0 0 0
(1 1 9 14-1019
issues put out during the month of August, which the 7 4 0 K in g C o . S . D . N o . 1 4 4 . W a s h - - 5 (1
100
4 .0 0 0
1 0 1 0 -1 9 1 4
G1 3 l l K l n g C o . S . D . N o . 4 9 , W a s h . . . 5
1 0 0 .6 0
5 0 .0 0 0
crowded condition of our columns prevented our publishing 5 5 1 - - K i n g s t o n , N . Y ...............- .................. 4 ■
1 0 1 .5 0
1 0 .0 0 0
488. .
K n o x , I n d ------------------------- 4 A
1 0 2 .2 0 1
1
2
,0
0
0
1
9
1
1
-1
9
1
4
at the usual time.
5 5 1 . . K n o x C o u n ty , O h io ......... ................o
6 3 5 ,0 0 0
194 9
5 5 1 - .K n o x v l l l e , T e n n ................................. 4 A
3 5 .0 0 0
The review of the month's sales was given on page 677 of 551 . . K n o x v i l l e , T e n n .................................a
193 9
1 0 2 .5 1 1
8 ,8 3 2
- L a k e w o o d , O h io (3 i s s u e s ) ---------o
the “Chronicle” of Sept. 11. Since then several belated 3G4.
100
1 7 .0 0 0
d l 9 1 9 -1 9 2 0
4 2 7 . - L e a d S c h o o l D is t r ic t , S o . D a k . . 5
1 9 .0 0 0 1/100
(1 1 9 1 9 -1 9 2 9
4
8
8
L
e
b
a
n
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n
S
e
ll.
D
l
s
t
.
N
o
.
1
6
,
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.
5
August returns have been received, changing the total for 67 9 - - L e e d s S c h o o l D is t r ic t , U t a l i -------5
1 .0 0 0
100
1919
100
2 1 .0 0 0
102 9
the month to $21,763,643. The number of municipalities G7 9 - . L c h i C it y . U t a h .............. .......... 5
95
2 0 ,0 0 0
1 0 1 4 -1 9 3 3
7 4 0 . - L e s lie S p e c ia l S c h o o l D l s t . , A r k . G
1 0 2 ,6 1
1
3
,6
0
0
1
9
1
4
,
’
lG
&
’lO
issuing bonds was 277 and the number of separate issues 367. 551 . . L i n c o l n C o u n ty , M in n ---------------5
1 9 .0 0 0
613- L in n C o u n ty S . D . N o . 1 6 , O r e . 5 1929
1 8 .0 0 0
1 9 1 0 -1 9 1 9
0 1 3 - - L it c h f ie ld , i l l ......................................
5
A U G U ST BO N D SA L E S.
100
P ric e. 7 4 0 - . L i t t l e M tn . H ig h S . D . , S o . " ~
A m o u n t.
P age.
N am e.
H ate.
M a tu r it y .
1 0 4 .6 0
6 ,0 0 0
1921
4
M
3
6
4
.
.
D
o
c
k
la
n
d
,
O
h
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----$ 8 ,0 0 0
1 0 6 .9 0 *
1
2
6
,0
0
0
..........................
6 1 2 ..
A h o sk te G r a d e d S . D . , N o . C a r o . 5
1
9
1
0
-1
9
3
9
4 8 8 . - L o d i . C a l. (2 I s s u e s ) ..............
105
4 8 5 ..
A lb e r t L e a . M i n n . - . - - - - - - - - - 5
- - 5- 1- .0
- -0-0- ­ 1 0 0
3 0 ,0 0 0
1 9 1 0 -1 0 3 9
5
551 . . L o s B a n o s, C a l.............. .............
3 0 .0 0 0
100
1 0 2 .5 0
2 0 .0 0 0
1 9 1 0 -1 9 2 9
6
614.L o v e lo c k s , N e v ------4 2 4 " A iSe™ I o w a PeU
V- 4 A d lo ftlS I S
2 5 .0 0 0
...
104
1 6 ,7 6 0
1 9 1 0 19 1 9
1 0 0 .0 0 0
100
4 8 5 11 A n d e fs o n C o u n t y . T e n n ................. 4 * c /1 9 2 9 -1 9 3 9
1 0 2 .1 3
0 4 ,6 4 0
1 0 1 0 -1 9 1 9
4A
4 2 7 . -Luc<
6 0 ,0 0 0
1929
1 0 3 .5 4
:. 110
4 8 5 . - A n o k a , M i n n .............................................4
(111
l
*
l
i
9
7 4 o . _ Lui
2 8 ,0 0 0 5 M % b a s
(1 1 9 2 9 -1 9 4 9
8 5 ,0 0 0
1 9 1 4 -1 0 3 9
4 2 4 . . A n s o n , T e x ------------------------------------ ”
4
4
,6
0
0
1
0
5
.8
8
4
1
9
1
0
1
9
1
9
100
3 0 ,0 0 0
5 4 8 . - A s h l a n d , O h io ...................................- •>
(1 1 9 1 9 -1 9 2 9
1 7 9 - - M c M ln n v llle , O r e ---------------- - - - ­
161 .87
1 0 ,6 6 0
1 9 1 0 -1 9 1 9
1 0 0 .2 5
5 8 ,0 0 0
737
A s n t a o u la C o u n ty , O h io ------------- 4 >2
1 0 1 9 -1 9 4 7
5 51 . .M a d i s o n S c h o o l D is t r ic t , N . J - - 4
101 .1 0 3
1 3 .0 0 0
8 ,0 0 0
737
B a s in . W y o m in g ...........................
«d l 9 1 9-1 0 2 9
1
0
2
.7
9
2
1
3
.0
0
0
1 0 2 .1 6 6
6 ,0 0 0
6 1 2 - . B a y C it y , M ic h ------------------------- 5 1 9 1 2 , 1 4 & 1 7
1914
6
1
4
.
.M
a
r
io
n
C
o
u
n
ty
,
O
h
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o
1 0 0 .5 2
4 ,2 3 0
1 8 ,0 0 0
6 7 7 . - B e d f o r d , O h io - - - - - - - - - - - - - - 4 Yi
1 9 1 0 -1 9 1 9
a 1915
4 Vi
3 6 4 - . M a r sh fie ld S . D . N o . 1, W l s .
100
9
.0
0
0
4
51% h a s
4
0
.0
0
0
(1
1
9
1
9
-1
9
4
0
6 1 2 - . B e lla lr e S c h o o l D is t r ic t , O h i o . . 4
l ® 16
5
4 .0 0 0
100
2 0 ,0 0 0
5 4 9 . . B e lie f o n t a in e S c h . D l s t . , O h i o . . 4
1 9 1 6 -1 9 1 9
(1 1 9 1 9 -1 0 4 9
4
6 5 .0 0 0
100
7 5 .0 0 0
6 1 2 - .B e l l e v i l l e , 111------- -----4
- - - - - - r -(•7 9 . . M a y fie ld , I v y ------------- - - - - - - - - 5 .0 0 0
100
4 8 5 , - B e n t o n C o. S . D . N o . 6 , W a s h . . 5
d l9 1 9 -1 9 2 9
6 1 4 - - M a y w o o d & M e lr o se P a r k S c h o o l
8 .0 0 0
100
1 0 1 .3 0
1 0 .0 0 0
1 9 1 5 -1 9 1 6
7 9 5 ..
B oom , I o w a - - - - - - - - - -■
4
..........................
..........................
D is tr ic t, 111----------------------------- 4 A
5 .0 0
1 0 0 .4 4
____
5 4 9 . - B o o n e v i ll e S c h o o l D i s t r i c t , I n d - 4
- .................
5 0 0 ,0 0 0
4 8 8 . - M e m p h is S c h o o l D is t r ic t , T e n n . 4 k
1
0
0
.7
2
5
1
0
,7
5
0
1 0 0 .7 6
0 ,5 0 0
5 4 9 . - B o o n e v i l l e S c h o o l D is t r ic t , I n d . 41
1 9 1 0 -1 9 1 4
4
A
6
1
4
.M
e
r
c
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C
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u
n
ty
,
O
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.......................
1 5 .0 0 0 1 100
< 11915-1930
1 0 0 .7 2
2 .5 0 0
1 9 1 0 -1 9 1 4
4 8 5 . - B r a d f o r d , P a ------------------------------- 4
4
A
7 0 ,0 0 0 ]
1 9 1 4 -1 9 2 1
100
2 ,0 0 0
(1 1 9 1 9 -1 9 2 9
1 8 5 - - B r a d f o r d , P a ......................................... 4
8 7 3 . .M e r i t I n d e p . S e ll. D l s t . , T e x .
10.1
6 0too
1919
1 0 2 .0 )
1 8 ,1 6 5
1 9 1 0 -1 9 1 0
6 7 7 . ilr a in e r d , M i n n --------------------------- ••
4 A
6 1 4 . -M id d le to w n , O h io ......................
1 0 1 .8 3 3
5 .0 0 0
d l9 l9 -!9 2 9
100
8
,2
5
0
1
9
1
0
-1
9
1
9
737- B r a n d o n , M i s s . . ....... .......... 0
4
8 ,(•(•(> 1 l.< 13
l l 24
7 0 0 ,0 0 0
6 7 7 - .B r e d a , I o w a -------------- ------------------ a
1 9 1 0 -1 9 2 9
4
1
0
0
.1
9
5
.0
0
0
1 9 1 4 -1 9 1 8
----3 7 5 .0 0 0
4 2 5 - .B r o n x v l l l c , N . Y -------------------------4 .3 5
1 0 1 0 -1 9 2 9
4
4 ,3 0 0
5 0 ,0 0 0
6 12. .
B r u n s w ic k S c h o o l D l s t . , N e b —
-192 9
5 5 2 - .M i n o t , N o . D a k - - - - - - - - - - ------- 4
4 0 .0 0 0
100
* " 1939 *
1 0 0 .3 0 4 .
7 ,0 0 0
1 9 1 2 -1 9 1 8
6
4 8 5 - .C a m d c n , N . J ------------------------------- 4
0
7
9
.
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o
n
r
o
e
S
c
h
o
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l
D
is
tr
ic
t,
C
a
l
.
—
2 8 .0 0 0 1
19 3 9
1 1 8 .7 5
1 6 ,0 0 0
1 9 2 2 -1 0 2 9
4 8 5 ..
C a m d e n , N . J --------------------- 4
0
2 5 ,0 0 0 1 x 1 0 0
1934
1 0 0 .8 3
50,01)0
1 8 5 . . C a m d e n , N . J ------------------------------- 4
6 1 4 - .M o n t g o m e r y , A la - - 2 0 .0 0 0 J
1939
1 0 1 .0 6 6
1 ,5 0 0
1 9 1 0 -1 9 1 5
485- C a m d e n , N . J — ....... .......... 4
4
A
4
8
9
.
M
o
n
tg
o
m
e
r
y
C
o
u
n
ty
,
105
5 .0 0 0
1 9 1 1 -1 9 2 0
1 0 1 .0 5 5
3 ,6 0 0
1 9 1 0 -1 9 1 5
4 8 5 . - C a n f ie ld , O h i o .......................................5
4 A
4 8 9 . - M o n tg o m e r y C o u n ty ,
1 0 0 .7 7 6
9 1 1 -1 9 1 4
1 0 0 .3 8 1
3
3
,0
0
0
1934
677- C a n t o n , O h io .................. ..........................1..........................
4 A7 6 ,6 0 0
4
1 0 0 .4 0
1 3 .0 0 0
1929
4 6 ,0 0 0
6 7 7 . -C a n to n . O h io . - - - - - - - - - - - - - - 4
4 .1 5 1 9 1 4 -1 9 3 6
5
5
2
.
M
t
.
M
o
r
ris,
N
.
Y
...............................
100
2 5 .0 0 0
(1 1 9 1 4 -1 9 1 9
(• .1 00
1 0 1 .8 8 7
612
C a r d e n B o t t o m L e v .D .N o .2 ,A r k . 6
1
l.i
9
741 , M t. O liv e , M is s ----------------------------1 0 2 .6 6 6
3 .0 0 0
1 9 1 1 -1 9 1 9
1 0 1 .9 7 7
6 ,7 5 0
(1 1 0 3 9 -1 9 4 9
737. .
C a r lto n S c h o o l D is t r ic t , C a l------------5
4 8 9 . - M t . V e r n o n I n d . S c h . D l s t ., T e x .. 5
5 0 ,1 0 0 // 1 1• 1 .1 0
1929
6 0 ,0 0 0
1 0 3 .2 8 3
19 3 4
5
7 3 7 . - C a r t e r v llle . M o ----------------------------- a
6
7
9
-M
u
s
k
o
g
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O
k
l
a
.
_
----------------------2 5 .0 0 0
1 0 1 .1 0
1939
1 0 5 .7 0
5
0
,0
0
0
(1
1
9
1
0
-1
0
2
0
(j
486. .
C e n tr a l P o in t , O re . . . .......6
4 2 7 . . N a m p a , I d a h o (2 I s s u e s ) ----------2 a ,000
1 0 0 .1 0 8
1 2 5 ,0 0 0
1 0 2 8 -1 0 3 1
738.C h :r tl rs T o w n s h ip , P a ----------------------------------- 2 7 5J,0H0 0
4
4
2
7
.
N
a
s
s
a
u
C
o
u
n
ty
,
N
.
Y
---------------1
0
2
.4
0
8
100
8 ,0 0 0
678. .
C h a tt a n o o g a , T e n n . (2 I s s u e s ) - - 4 ’A I 939’
4 8 9 _ - N e I lg h , N e b . ......................................... 4 'A 1 9 1 4 -1 9 2 9
1 0 1 .2 9
7 5 .0 0 0
1 0 1 .0 3 1
1 0 ,5 8 1
1 9 1 0 -1 9 1 9
6 1 2 . .C h e lt e n h a m T o w n s h ip , I a . -------4
4
1 0 1 .1 2
1 0 .0 0 0
100
7 1 ,4 0 0
549. .
C h e s te r lle ld T o w n s h ip , N . J -----------19
4 >to"
a 1914
4
4
8
9
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,
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to o
4
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0
0
3 6 2 . .C h e s w lc k S c h o o l D is t r ic t , 1 a . - - a
.
6
4 2 7 . - N e w t o n , M is s ........... .......................
1 0 6 .5 3 7
19101 9 1 42 ,5 0 0
1 0 0 .9 5 4
3 1 ,6 0 0
795
c ia r e m o n t S c h o o l D is tr ic t, C a l. 5
4 2 7 . - N e w t o n C o u n ty , I n d . .................
1 0 0 .3 0 8
1 2 ,0 0 0
1
9
1
1
1922
101
1 2 ,0 0 0
3 6 2 . .C la r k C o u n ty . O h i o ......................... 4
1
2
7
N
e
w
t
o
n
C
o
u
n
ty
,
I
n
d
--------------1 0 6 .0 4 6
1 5 .0 0 0
- 1 9 258
1 0 0 .9 6
2
5
,0
0
0
678- C la v T o w n s n l o . O h l ) ..........................1 9 1. 4—
4 2 7 . - N e w t o n C o u n ty , I n d ------ -------102
1 8 .0 0 0
(1 1a9 1 9 -1 9 3 9
_______
2 1 ,0 0 0
6 1 2 ..
C lo v is S c h o o l D is tr ic t, N . M --------489
N e w W incisor S . I ). N o . 1 , N . Y . .
100
7
5
.0
0
0
:r l0 0
2
8
,6
5
3
1
9
5
8
5 4 9 ..
C o h o e s , N . Y ---- ------ -‘J
614
N e w Y o r k C i t y .......................................•*
5 0 .0 0 0
1 9 1 4 -1 9 6 3
1
0 5 .6 1
5
,0
0
0
1
9
1
5
-1
9
1
9
4 8 6 - .C o llln g s w o o d S c h o o l D l s t ., N . J - 4
56
552
N ile s , O h io ---------------1 0 0 .7 5
8 ,1 0 0
1 9 1 4 -1 9 1
7 ,0 0 0 1 100
1 9 1 0 -1 9 1 6
6 7 8 - . c o m m e r c e , G a . . . . . . - - - -- - - - - “
711 . N o r t h a m p t o n , M a s s . ---------------1 0 .0 0 0 V 1 0 0 .5 7 5
d l9 1 9 - 1 9 2 9
1 2 ,0 0 0 j
1 9 1 0 -1 9 2 1
486
C o n d o n S c h o o l D l s t . N o . 2.>, O re 5
741
.
.
N
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a
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p
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ss
.
.
------.!
.(
1 3 5 ,5 0 0
1 0 4 .6 4 1
1 9 1 0 -1 9 4 9
1 0 2 .0 9 9
3 8 ,5 0 0
6 1 2 . - C o r o n a , C a l. (3 i s s u e s ) - - . ............5
5 5 2 , . N o r th A t t le b o r o u g h , M a ss. (•> i s ..)) 44
2 8 .0 0 0
1 9 2 0 -1 9 2 9 2 ,0 8 0 ,0 0 0
5 4 9 . . C r a n d o n , W i s ........... - - - ...................... .....
6 7 9 - - N o r t h S t e r lin g Ir rfg . D l s t . , C o lo .. 0
1 0 0 .2 2
1 5 .0 0 0
1 9 1 1 -1 9 1 2
102
4
,5
0
0
1
9
1
0
-1
9
1
4
5 4 9 C r a w fo r d C o u n ty , O h io ..................4 A
6 1 4 . .O a k H a r b o r , O h io -------- ----------1 0 6 .7 5
5 9 .0 0 0
(1 1 9 2 9 -1 9 3 9
5 ,0 0 0
425
C u rry C o u n t y , N e w M c x ----------- a
4 2 7 -O n a m ie S c h . D i s t . , M in n --------2 5 .0 0 0
19 1 9 - 1929
1 0 3 .0 0 9
1 1 ,0 0 0
4
5 "1*9*10-1019
4 8 6 . .C u s t e r C o u n ty , M o n t .....................a
4
8
9
.
O
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v
ille
,
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(3
I
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s
u
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s
)
-----2 4 ,7 6 2
1 9 1 0 -1 9 1 9
1 0 ,8 3 0 1 /102.781
1910 1920
612. .
C u y a h o g a C o u n ty , O h io ---4
7 4 1 . .O s c e o l a C o . D r . D i s t . N o . 9 ,^ la -. 6
1 3 4 ,2 5 0
1 9 1 0 -1 9 1 9
4 0 ,0 0 0 1 0 0 .1 3 2 5
. 4 .1 0 1 9 2 8 -1 9 3 5
612. .
C u y a h o g a C o u n ty , O h io .... 4 A
4 9 0 - - O s s in in g l :n . F . S . D . N o . l 1 ”
1 1 ,5 6 0
1 9 1 0 -1 9 1 9
3 ,5 0 0
100
• C u y a --------(1191 9 -1 9 2 9
612. . h o g a C o uOn h
tyi o . . ............4 'A
5
5
2
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a
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k
,
M
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-----------------------------6 7 ,3 7 5
1 9 1 0 -1 9 1 0
1 0 1 .8 1 2
3 0 ,5 0 0
4 a
1929
6 1 2 . . C u y a h o g a C o u n ty O h io ..............
- 4A
5 5 2 . - P a r k e r , I n d ---------------1 0 2 .0 3 9
5 6 ,1 0 0
1 9 1 0 -1 9 1 9
8 5 ,0 0 0
1919
3 6 2 . - C u y a h o g a C o u n ty O h io ________ 4 A
. 44
5
5
2
.
P
a
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s
o
n
,
N
.
J
.
---------------------------1
0
2
.0
4
1
2
2
,3
7
5
1 9 1 0 -1 9 1 9
1 0 2 .0 1
1 5 ,5 0 0
1 9 1 8 -1 0 3 3
3 6 2 . .C u y a h o g a C o u n ty O h io ________ 4 a
.
5
4
2
7
P
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T
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ip
,
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.
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1 0 2 .2 5 6
6 5 ,2 5 0
1 9 1 0 -1 9 1 9
. ............4
1 0 2 .5 2 8
7 ,2 3 9 ,7 0 0
C u iy
y aahuougs a C
1939
•4I8B6O- --.W
o uo u nuty
,/, O
X Lh, i o ./V
I T .', 'A
--•
4 9 0 - - P h i la d e l p h i a , P a . (2 Issu es) —
4
1 0 1 .9 4 6
9 7 .0 0 0
486. .
C u y a h o g a C o u n ty . O h io (2 is s .) 41 9A1 0 -1 9 1 9
3 0 .0 0 0
6 1 5 . .P it t s b u r g h I n d . S c h . D l s t ., l e x . 4 A
1 0 3 .3 2 6
1 7 ,3 1 6
1 9 1 0 -1 9 2 7
103".
09"
6 7 8 . .C u y a h o g a C o u n ty , O h i o ................ 4 j
6
0
.0
0
0
*1*9*19-1
9
3
9
6 8 0 . . P i t t s t o n S c h o o l D i s t . , P a ----------- 4 A
1 0 3 .1 5
5 ,0 0 0
1 9 2 1 -1 9 2 5
107
2 0 ,0 0 0
613. .
D a lla s T o w n s h ip , O h io ----- 4 A
19 2 9
1 9 0 - - P le a s a n t R id g e S c h . D i s t . , O h io 4 A
1 0 0 .8 0 7
1 0 3 .0 0 0
1 9 1 0 -1 9 1 4
100
1 0 0 ,0 0 0
1 9 1 5 -1 9 1 9
5 5 0 . - D a r k e C o u n ty , O h o ......................... 4 A
W
I
s
............
6
8
0
.
.
P
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a
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C
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D
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D
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.
1 0 1 .1 3 0
5 4 .0 0 0
1 9 1 0 -1 9 1 4
1 0 5 .2 7 9
2 4 5 .0 0 0
19 2 9
5 5 0 . - D a r k e C o u n ty , O h io .............. .......... 4 A
6 1 5 - - P o r t l a n d , M e -------------3 5 .0 0 0
100
19 2 9
1 0 3 .5 0
5 0 .0 0 0
6 7 8 . . D a y t o n a , F l a ---------------------------- 6 1 5 . P o r t l a n d , O r e -------------1 0 3 .0 2 5
2 0 .0 0 0
103
1 0 8 ,0 8 5
'A 1 9 1 0 -1 9 2 0
4 8 6 . . D e c a t u r , I n d ......... .................. ..........
1 0 7 .2 4 2
6 ,4 0 0
1 9 1 5 -1 9 2 7
1 0 1 .2 5
5 0 .0 0 0
1910
_______6
4 8 6 . - D e ll a n c e , O h io -----------------------------“
190 P o r t o f P o r t la n d , O re
1 0 3 .8 0
1 0 ,0 0 0
1 0 2 .5 0
1914
1 0 .0 0 0
191 l
4 8 7 . .D e lp h o s , O h i o -----------------------------•*
1 0 7 .1 4
2 0 ,0 0 0
100
1919
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3 6 5 - _ O u l n c y , M a s s ........................................ 4
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1949
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1 0 1 .6 0
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1934
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100
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1022& 1923
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1929
1 9 1 0 -1 9 2 3
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6 1 6 - S t . A io u n s , v t . (2 I s s u e s ) ----------- 4
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____4
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100
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4
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5 5 3 . - S a n d u s k y , O h i o . . ------------------ ­
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D l s t . N o . 9 6 , T e x ---------------428
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1910
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100
1919
5 5 0 . - G r o v e p o r t, O h i o .................................- % 4A A
5 5 3 . - S a u k C e n tr e , M in n --------------------- 4
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100
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1930
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1929
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100
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4
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3 6 3 , - H e m p s t e a d , N . Y ---------------t i k I S p r in g fie ld ', O h io (6 I s s u e s ) - - - - 8
_______
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491
S t e u b e n v i ll e , O h io _______________ 4 A (1 1 9 1 1 -1 9 2 0
100
6 ,0 0 0
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3 6 3 - . H o l m e s C o u n ty . O h io ------------------- 44
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1929
5 5 1 - - I l o q u l a m , W a s h ------------------------- 5
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100
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1929
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J a s p e r , A la ________________
4 2 9 . - T r o y , N . Y - - - - .................................... 4
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4 9 2 . _ T y m o c l it e e T w p ., O h io ---------------5
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( 1 1 6 .. V e n a n g o C o u n ty , F a -------------------4
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W a r r en C o u n ty , N. Y -----5
1910
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1 9 1 1 - 1914
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W e llin g to n , O h io _________ 5
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5 5 4 . - W e l l in g t o n , O h io ________________ 5
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W e s t c h e s t e r C o u n ty , N . Y _______1 94 3 4 -1 9 4 0
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W e s t e r v ille , O h i o ________ 4 A
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5 5 4 ..
W e s t m o n t , I ’a ____________ 5
5 5 4 ..
W e s tw o o d S c h . D l s t . , N . J _______1 95 1 0 -1 9 2 6
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W h it e P la in s , N . Y ___ __4 .1 5
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6 1 7 . - W il l C o. S . D . N o . 9 0 , 111_____ 5
1934
4 9 3 . - W illi m a n tle . C o n n ---------------------- 4
1 9 1 0 -1 9 2 9
4 9 3 - _ W llm e r d I n g , P a . (2 I s s u e s ) -------5
5 5 4 . - W in c h e s t e r S c h . D l s t . , O h io — 4
1 9 1 0 -1 9 3 3
1929
6 1 7 ..
W ir t , M in n _________ ______ 6
4 9 3 - - W oodruH S . D . N o . 3 3 , S . C - . 5
4 9 3 ..
W y a n d o t C o u n ty , O h i o --- 5
1 9 1 0 -1 9 1 4
5 5 4 . . Y a k im a C o . S . I ). N o . 8 6 , W a s h . 5
1929
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Y o u n g s t o w n , O h io (1 2 I s s u e s ) . . 5

A m o u n t.

P r ic e .

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8 7 .0 0 0
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1 7 .0 0 0
1 7 .0 0 0
100
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2 0 .0 0 0
1 0 3 .8 2 5
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100
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4 .0 0 0
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100
100
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12.000
10,000

P a g e.

R a te.
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TOTALS

FO R

R a te .

B O N D S SO LD

P age

N am e.

BY

M a tu r ity .

A m o u n t.

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C A N A D IA N

R a te.

A m o u n t.

P a g e.




6

6

6

6
6

P R E V IO U S

N am e.

R a te.

4 8 5 - .B e l o I t U n . S . D . N o . 1 , W I s ___ - 4 A
- 4A
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P ric e.
1 0 0 .3 0 2 5

■-

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5 5 5 - .A l a m c d a , S a s k --------------------------9 0 .3 7 1
1 9 1 0 -1 9 2 9
$ 1 5 ,0 0 0
4 9 3 ,- A n t I g o n l s h , N . S _______________ - 4 K
1929
9 8 .7 5
8 ,0 0 0
4 3 1 ..
A rd B e g S . D . N o . 1 0 2 2 ,A-l t a5 _______
1 9 1 0 -1 9 1 9
1 0 0 .7 0
)4
1 ,0 0 0
0 1 7 ._ A r n p r lo r , O n t ___________________
1929
2 ,5 0 6
8 0 0 _ _ A r o m e L a k e S c h . D l s t ., S a s k ._
5
1 ,6 0 0
19 2 9
7 4 2 ..
A t h o l S . D . N o . 1 9 9 0 , S a s- k 5 .A
400
617­
1 0 0 .8 3 3
1919
1 ,8 0 0
- 5A
742.
S a s k ------------------------------------------ 5 'A
500
7 4 3 . - B o t t s S . D . N o . 1 9 6 0 , A l t a ____ H A
1 ,2 0 0
5 5 5 . .C h a m p a g n e S c h . D l s t . , S a s k ___ 5 ) 4
4 ,6 0 0
1 9 1 0 -1 9 2 9
6 8 2 . .C h e c h o w S c h . D l s t . , S a s k _______ 5 A
1 9 1 0 -1 9 1 9
800
5 5 5 . .C l in t o n , O n t _____________________ 4 A
• 1937
5 1 .0 0 0
4 0 3 . .C o b a l t , O n t _______________________ 5
2 5 .0 0 0
1914
493 .C o b a l t , O n t _______________________ 5
7 5 .0 0 0
1919
5 5 5 . - C o t e a u V a l. S . D . N o . 2 3 4 9 ,S a s k . 5
1919
1 ,5 0 0
6 8 2 . .C o t e d e s N e lg e s , Q u ___________ 4 4AH
1 5 .0 0 0
6 8 2 . . D c lo r a l n e , M a n _________________ .5 5
1 9 1 0 -1 9 2 9
6 ,0 0 0
4 9 3 . . D e l t a , M a n _______________________5
. 5
1915
1 0 .0 0 0
100
6 8 2 . .D r e s d e n , O n t ____________________ . 4 A
1 9 1 0 -1 9 2 9
2 0 ,0 0 0
4 3 1 . . E l b o w , S a s k . (2 I s s u e s ) _________ __
1 7 ,0 0 0
5 5 5 . . E l g i n S . D . N o . 1 8 9 5 , A l t a ............5 H
AA
1919
R 700
1 0 0 .8 5 8
7 4 3 . . F o r d S . 1). N o . 1 0 1 0 , A l t a _____ 5 H
AA
800
4 3 1 . . F o r e s t H ills S c h . D l s t . , S a s k ___ 5 )54) 4
1919
1 ,1 0 0
4 9 3 - G a u t h ie r S c h . D l s t . , S a s k _______ 5 5
1 9 1 0 -1 9 1 9
1 2 ,0 0 0
7 4 3 . .G l e n a v o n S . D . N o . 2 4 4 6 , S a s k . 5 ) 4
1 ,5 0 0
19 1 9
6 8 2 . .G o b e r t S . D . N o . 1 9 5 1 , A lb e r ta . 5
1 ,5 0 0
100
1919
8 0 0 . .G r a v e lb o u r g S c h . D l s t . , S a s k ___ .5 A
1 ,0 0 0
5A
1919
6 8 2 . . G r e a t W e s t s . I ). N o . 2 3 1 6 ,S a s k .. 5 A
1 ,4 0 0
1 0 0 .5 0
1929
6 1 8 . - G r im s b y , O n t ____________________ 4 4AA
1 5 ,0 0 0
1 0 0 .3 9 3
1 9 1 0 -1 9 1 9
9 ,4 0 0
4 9 4 . . H a w k c s b u r y , O n t _______________6 6
I ,4 0 0
7 4 3 . . H a z e lw o o d S . D . N o . 1 8 6 0 , A lt a .. 5H A
6 8 2 . .H e y h o r lt o S c h . D l s t . , S a s k _____ 5 )54 54 1 9 1 0 -1 9 1 9
1 ,0 0 0
6 8 2 . - H i g h R iv e r S c h . D s t ., A lb e r t a .. 5 A
1 9 1 0 -1 9 1 9
3 ,5 0 0
A
6 8 2 . .I n n l s l l l T o w n s h ip , O n t _________ 5 5
1 9 1 0 -1 9 1 4
1 ,0 0 0
4 9 4 . . I n v c r m a y , S a s k _________________ 6
1 9 1 0 -1 9 2 4
1 ,0 0 0
5 5 5 . - J o ll o t t e , Q u e _____________________.4 4A A
1939
2 0 0 ,0 0 0
7 4 3 . . K ltd o n a n , M a n ___________________ 5
6 ,0 0 0
6 8 2 . .K l l l a r n e y , M a n _________________ . 5
1 9 1 0 -1 9 2 9
1 0 ,0 0 0
9 9 .0 3
5 5 5 . - L a c h t n c , Q u e ____________________ 4 4A A
19 4 9
1 3 0 ,0 0 0
4 9 4 . . L a c S t . V in c e n t S . D . N o . 1 9 2 8 ,
A lta __________________________ '■ h a
1919
800
100
4 0 4 . _ L a F o r t u n e S . D ., M a n _________ 6_
1 9 1 0 -1 9 1 9
800
5 5 5 . . L e e v l l l e S . D . N o . 2 1 4 0 , S a s k ___ 5 )54) 4
19 1 9
1 ,5 0 0
1 0 0 .1 4 3
5 5 5 . - L e g a l S . D . N o . 1 7 3 8 , A l t a ______5 5%) 4
1 9 1 0 -1 9 1 9
800
1 0 0 .5 1 8
6 8 3 . .L e t h b r id g e P r o t e s t a n t P u b lic
S c h . D ls t . N o . 5 1 , A l t a _______5' 5
1 9 1 0 -1 9 3 9
3 9 ,0 0 0
1 0 1 .5 6 6
4 9 4 . .M a d a w a s k a C o u n ty , N . B ______4 4 A
1 9 1 0 -1 9 1 6
1 2 ,0 0 0
6 8 3 . - M a g r a t h , A l t a ___________________. 5
1 9 1 0 -1 9 2 9
1 4 ,0 0 0
9 8 .0 3
3 6 9 . . M a n i t o b a ________________________ 4 4
1939
1 ,0 3 0 ,0 0 0
100
6 1 8 . .M a p le L e a f S . D . N o . 8 3 , M a n . . 5
1 9 1 0 -1 9 2 6
4 ,9 3 0
1 0 0 .1 0 1
6 8 3 . .M i lt o n , O n t _____________________ 5
1 9 1 0 -1 9 1 9
5 ,0 0 0
6 8 3 . .M o n a s t r y S c h . D l s t . . S a s k _____ 5 )54) 4
1 9 1 0 -1 9 1 9
1 ,0 0 0
. 4
4 3 1 . .M o n t r e a l, Q u o ___________________4
19 4 9
100
7 0 0 .0 0 0
a n _____________ _______ 5
1 9 1 0 -1 9 2 6
8 7 7 . .M o r d e n ,
4 ,9 3 0
1 0 0 .1 0 1
6 8 3 . .M o r r is , M a n _____________________ . 5
1 9 1 0 -1 9 2 9
1 2 ,0 0 0
1 0 1 .2 4
1919
8 0 1 . .M u r r a y S c h . D l s t . , S a s k ________ 5 A
HA
800
1 9 1 0 -1 9 1 9
5 ,0 0 0
99
5 5 6 . - N a n t o n , A l t a ____________________ 5 5
1 9 1 0 -1 9 2 4
5 ,0 0 0
6 8 3 . . N e e lo n & G a rso n T w p s ., O n t ___ 5 5
1919
1 ,1 0 0
4 3 1 . .N e w la n d s S . D . N o . 21 0 3 , S a sk . 5 A
1 0 0 .5 0
5
1 9 1 0 -1 9 2 9
3 1 ,6 7 8
1 0 3 .0 9
8 0 1 . - N i a g a r a F a lls . O n t. (2 Issu es)
2 5 ,0 0 0
5 5 6 . . N o r t h B a t t le f o r d , S a s k --------1 9 1 0 -1 9 1 9
3 ,6 9 5
1 0 1 .0 7 1
6 1 8 . . N o r t h E a s t h o p e , O n t -----------------5 5
1 9 1 0 -1 9 1 9
1 ,0 0 0
6 8 3 . - O lc s z a S c h . D l s t . , S a s k _________ 5 )54) 4
1939
8 0 1 . .O n t a r io _________________________4 4
4 7 6 ,0 0 0
102
7 4 3 . - P le a s a n t P la in s S . D . N o . 1 7 1 0 ,
S a s k __________
4
500
5 )54
7 4 4 . .P r y o r S . D . N o . 1 5 3 6 , A l t a ____ 5 514
800
4 3 2 . - R e d D e e r , A lb e r ta ______
5
1 9 1 0 -1 9 1 4
1 ,5 0 0 1 1 0 0 .2 4 4
4 3 2 . R e d D e e r , A lb e r ta _______
55
3 ,0 0 0 / 3
1 9 1 0 -1 9 2 9
5 5 6 . . R i v e r s , M a n ____________________
1 2 ,0 0 0
1 0 2 .6 0
19 2 9
5g u
A
8 7 7 . . S t . C la u d e S c h o o l D is t r ic t , M an" 6
1 0 3 .6 5 8
6 ,0 0 0
1930
4 3 2 . . S t . G e r tr u d e S . D . N o . 2 3 2 9 , S ’k 5 ) 4
100
1 ,2 0 0
1919
432
104
6 0 0 ,0 0 0
1949
4
A
4 0 4 . S t . V it a l, M a n ___________
5
2 ,5 0 0
1916
4 3 2 - S h c ll m o u t h S . D . N o . 2 9 2 , M an"
1 0 7 .7 1 4
1 9 1 0 -1 9 2 9
3 ,5 0 0
7 4 4 . .S h e r w o o d S . I). N o . 4 6 0 , S a s k " 5 A
800
404
3 5 ,0 0 0
1029
4A
432
1919
1 ,4 0 0
1 0 0 .5 6
556
1939
1 5 ,0 0 0
9 4 .5 5
4A
432
1 6 2 ,3 0 8
4A
683 ..S t r e c t s v llle , O n t.
1 9 1 0 -1 9 2 9
5 i5 0 0
4A
556
5
1 9 1 0 -1 9 2 9
1 1 ,8 0 0
683
5
1 9 1 0 -1 9 2 9
5 5 ,0 0 0
9 8 .1 7
683
4A
1 9 1 2 -1 9 2 1
4 ,5 0 0
5 5 6 . .T c c u m s c h S . D . N o . 1 9 9 2 , A l t a . H A
1919
800
556
5
99
1 9 1 4 -1 0 5 4
2 0 0 ,0 0 0
683 .T h e t f o r d M in e s , Q u e ____________
1917
4 5 ,5 7 9
6 8 3 .T h u r lo w T o w n s h ip , O t ________ 5
1 0 1 0 -1 9 1 9
6 ,5 0 0
4 0 4 -T o fle ld S . D . N o . 1 9 3 9 , A l t a ____
19 2 9
1 1 ,0 0 0
1 0 5 .5 6
432
5 )4
2 ,3 0 0
432
5 )4
3 ,0 0 0
6
432
2 ,0 0 0
432
2 ,0 0 0
744
5 )4
4 3 2 - V c g r e v llle , A lb e r ta _____________
1 9 1 0 -1 0 1 9
7 ,0 0 0
801 - V e r a S c h . D l s t . , S a s k __________ 5 ) 4
1919
1 ,4 0 0
683 - V e r m ilio n , A lb e r ta _____________ HA
1 0 1 0 -1 9 2 9
6 ,5 0 0
432
1020
HA
5 ,5 0 0
432
554
1 8 ,0 0 0

1929
1929

We have also learned of the following
previous months:

M U N IC IP A L IT IE S .

M a tu r ity .

$ 7 5 ,0 0 0
4 .0 0 0
7 .0 0 0
2 0 ,0 0 0
1 ,2 0 0
6 .0 0 0

P rice.
1 0 8 .6 5
9 5 .0 3

M O N TH S.

f
,
N a m e o f M u n ic ip a lity .
3 1 A m o u n t.
4 8 9 . - M ilw a u k e e , W Is. (M a y l i s t ) _______________ . 7 . ____ . . . . .$ 3 7 5 ,0 0 0
7 9 9 . . W e b b C ity S c h o o l D is t r ic t . M o. (M a rch l i s t ) _________________
9 0 ,0 0 0
8 0 0 . - Y u m a C o u n ty , A r lz . (J u n e l i s t ) ...................................................................
5 0 ,0 0 0

B O N D S O F A M E R IC A N P O S S E S S IO N S .

N am e.

Am oun .

The following items, included in our totals for previous
months, should be eliminated from the same. We give the
page number of the issue of our paper in which the reasons
for these eliminations may be found.
.
4 ..^

a A v e r a g e d a t e s o f m a t u r i t y , d S u b je c t t o c a ll In a n d a f t e r t h e e a r lie r
y e a r a n d m a tu r e In t h e la t e r y e a r , fc N o t I n c lu d in g 8 5 ,1 5 5 ,0 0 0 o f t e m ­
p o r a r y lo a n s r e p o r te d a n d w h ic h d o n o t b e lo n g In t h e l is t , x T a k e n b y
s in k in g f u n d a s a n I n v e s t m e n t ,
y A n d o t h e r c o n s id e r a t io n s .

4 8 5 . . P h ilip p in e I s la n d s ............................ 4

HA

5A

M a tu r ity .
19 4 9
1 9 1 0 -1 9 2 9

$ 4 ,3 8 1 ,1 2 6
R E V IS E D

T o t a l b o n d s a le s fo r A u g u s t 1 9 0 9 (2 7 7 m u n ic ip a li­
t ie s c o v e r in g 3 6 7 s e p a r a te I s s u e s ................................... * 8 2 1 ,7 6 3 ,6 4 3

Page.

5
6
5
4

4 8 9 _ - N i a g a r a F a lls , N . Y _____

..
..
.
.
.
.
..
..
.
.
i.

V)
.

-

..
..
.

a d d itio n a l

M a tu r ity .

sales for

A m o u n t.

P ric e.

1 9 1 0 -1 9 1 8
< 11914-1919
19 1 9
1 9 1 9 -1 9 2 8

9 ,0 0 0
1 0 1 .2 3 6
8 ,5 0 0
101
8 ,0 0 0
100
1 4 ,0 0 0
1 4 ,5 0 0
< 11919-1939
100
201000
1 9 1 0 -1 9 1 9
3 7 ,1 4 8 * 1 0 0
< 11914-1929
1 0 2 .5 0
9 ,0 0 0
1939
5 0 ,0 0 0
100
1959
2 2 5 ,0 0 0
1 00
5
< 11924-1929
8 ,0 0 0
1 0 1 .2 5
5
1929
6 5 ,0 0 0
1 0 0 .4 3 4
1919
4A
3 2 ,0 0 0
1 0 1 .5 0
4
1929
2 0 ,0 0 0
100
1 9 1 0 -1 9 1 4
6 .5 0 0
1 00
4 A 1 9 1 9 , ’24—’39 4 0 ,0 0 0 1 0 3 .0 6 7 5
1 1 5 ,9 1 8
4A
1 9 1 0 -1 9 1 2
3 ,0 0 0
1 00
4
4 0 ,7 0 0
1 0 2 .0 7 3
5
1 9 1 6 -1 9 1 9
1 2 ,0 0 0
1 0 7 .2 9 1
4
1 9 2 9 -1 9 3 3
2 ,5 0 0
1 0 2 .5 0
4
191 4
8 0 ,9 6 7
1 00
4
1 9 1 4 -1 9 1 5
3 7 6 ,8 4 3
100
4A
1 9 2 5 -1 9 2 9
5 ,0 0 0
1 0 3 .3 8 4
5
<11929-1949
1 2 ,0 0 0
1 0 1 .0 0 8
4
1 9 1 9 -1 9 3 4
3 0 0 ,0 0 0
100
5
1 9 1 4 -1 9 1 5
7 ,0 0 0
1 0 4 .3 0
3 .6 5 1 9 1 0 -1 9 1 9
1 0 ,0 0 0
100
4
1 9 1 9 -1 9 4 8
1 2 5 ,0 0 0
1 0 1 .3 8
4
1 9 1 0 -1 9 1 4
2 ,5 0 0
100
5 ,0 0 0
<11913-1919
5
102
5
4 ,0 0 0
1 0 3 .8 8 7
1919
3 0 ,0 0 0
1 0 3 .3 3 3
4
1 0 ,0 0 0
100
1 9 1 0 -1 9 1 2
4A
2 ,5 0 0
1 0 0 .2 0
5
(1 1 9 2 8 -1 9 4 8
4 ,0 0 0 !/100
6
1939
2 5 ,0 0 0
1 0 0 .1 0 4
5
1 9 1 3 -1 9 2 6
7 ,0 0 0 J /1 0 1 .0 7 1
5
d 1 9 1 9 -1 9 2 9
2 0 ,0 0 0
100

All the above sales (except as indicated) are for July.
These additional July issues will make the total sales (not
including temporary loans) for that month $20,063,943.

N e w s Item s.
Indiana.— B o n d s D e c l a r e d V a l i d b y S u p e r i o r C o u r t . — In an
opinion handed down Sept. 25 Judge Vinson Carter of the
Superior Court upholds the validity of the legislative Act
authorizing the issuance of $120,548 3% bonds, which were
to be delivered to the Vincennes University for the payment
of land which, it is said, the State took from the institution
many years ago without compensation. The decision was
rendered in the suit brought by J. Frank Hanley, former
Governor of Indiana. V. 89, p. 517.
Nashville, Tenn.— P a r k B o n d E l e c t i o n O r d i n a n c e D e c l a r e d
V a l i d . — On Sept. 28 Judge John Allison of the Davidson
Chancery Court ruled that the injunction enjoining the City
Council from taking further action on the ordinanoe (which
had passed its first reading) calling for an election to vote
on the issuance of $500,000 park bonds, be dissolved. The
opinion was handed down in a test case in which the point
was made that the Legislature in passing the enabling Act,
provides for the issuance of only $5,000 bonds. On this
point the Court holds that the inadvertent omission of the
word “hundred” from the first section of the enabling Act
does not invalidate the law, as it was clearly the intention of
th Legislature to confer the power of issuing $500,000 and
not $5,000 of park bonds, and that the Act must be construed
in accordance with the apparent intention of the Legislature
that enacted itt. It is said that the case is to be taken to the
higher courts.
, * .
' * # '* & *
New Jersey.— O f f i c i a l V o t e o n C o n s t i t u t i o n a l A m e n d m e n t s .
— '1 he official returns show the following roto on the five
constitutional amendments defeated on Sept. 14 (V. 89, p.
737):
A m e n d m e n t N o . 1 , r e la t in g t o fo r e c lo s u r e o f m o r t g a g e s . V o t e 1 8 ,9 2 1
" fo r ” to 4 2 ,5 0 8 " a g a i n s t .”
A m e n d m e n t N o . 2 , r e la t in g to C o u r t o f P a r d o n s . V o t e 2 2 ,2 8 3 " fo r " to
4 5 ,9 7 3 " a g a i n s t .”
p*
A m e n d m e n t N o . 3 , r e la t in g t o t h e ju d ic ia r y . V o t e 2 2 ,9 8 9 " fo r ” t o 4 6 ,7 6 9
" a g a i n s t .”
A m e n d m e n t N o . 4 , r e la t in g t o s a la r ie s o f m e m b e r s o f L e g is la t u r e . V o t e
2 3 ,9 3 7 “ fo r " t o 4 6 ,6 1 4 " a g a i n s t .”
A m e n d m e n t N o . 5 , r e la t in g to te r m s o f G o v e r n o r , m e m b e r s o f L e g is la t u r e
a n d c o u n t y o f fic e r s .
V o t e 2 2 ,7 0 2 “ f o r ” to 4 7 ,5 6 8 " a g a in s t."

Pennsylvania.— C o n s t i t u t i o n a l A m e n d m e n t s . — An Act of
the Legislature, approved April 2 2 1909, provides for the
submission to the voters at the general election in Nov.
1909 of the following proposed amendments to the State
Constitution:
^
Amendment One—To Art. 4, Sec. 8.—Relating to the appointing power
of the Governor.
A m e n d m e n t T w o — T o A r t. 4 , S e c . 2 1 .— R e l a t i n g to t e r m s o f o ffic e o f S e c r e ­
t a r y o f I n t e r n a l A ffa ir s, A u d ito r -G e n e r a l a n d S t a t e T r e a s u r e r .
M
A m e n d m e n t T h r e e —-T o A r t . 5 , S e c . 1 1 .— R e la t in g t o t h e e le c t io n , t e r m s o t
o f f i c e , n u m b e r a n d q u a lif ic a t io n s o t J u s t ic e s o f t h e P e a c e a n d A ld e r m e n .
A m e n d m e n t F o u r — T o A r t . 5 , S e c . 1 2 .— R e la tin g to M a g is t r a te s ’ C o u r ts In
P h ila d e lp h ia ; e le c t io n , s a la r ie s a n d j u r is d ic tio n .
,,,,
A m e n d m e n t F iv e — T o A r t. 8 , S e c . 2 — R e la tin g to g e n e r a l e le c t io n s . I t Is
p r o p o s e d t o h o ld g e n e r a l e le c t io n s b ie n n ia lly In e v e n n u m b o r e d y e a r s
I n s te a d o f a n n u a lly a s Is n o w t h e r u le .

A m e n d m e n t S i x — T o A r t . 8 , S e c . 5 . — R e l a t i n g t o m u n ic ip a l e le c t io n s .
At
p r e s e n t It Is p r o v id e d m a t s u c n e le c t io n s s n a il tie h eld a n n u a lly o n t n e th ir d
T u e s d a y of F e b r u a r y . I f t h e a m e n d m e n t Is a d o p t e d a ll e le c t io n s fo r
J u d g e s o f t h e C o u r ts fo r t h e s e v e r a l j u d ic ia l d i s t r ic t s , a n d fo r c o u n t y ,
c i t y , w a r d , b o r o u g h a n d to w n s h ip o ffic e r s fo r r e g u la r t e r m s o f s e r v ic e
s h a ll b e h e ld o n t h e T u e s d a y n e x t f o llo w in g t h e fir st M o n d a y In N o v e m ­
b e r In e a c h o d d - n u m b e r e d y e a r .
A ll j u d g e s e le c t e d b y t h e e le c t o r s o f
r t h e S t a t e a t la rg e m a y b e e le c t e d a t e it h e r a g e n e r a l o r m u n ic ip a l e le c t io n .
A m e n d m e n t S e v e n — T o A r t. 8 , S e c . 1 4 — R e l a t i n g t o d is t r ic t e le c t io n
► b oard s.
A m e n d m e n t E ig h t — T o A r t. 1 2 , S e o . 1 .— R e l a t i n g t o t h e s e le c t io n o f o ffic e r s
n o t o th e r w is e p r o v id e d fo r In C o n s t it u t io n .
A m e n d m e n t iN lne— i o A r t . 1 4 , S e c . 2 .— R e l a t i n g t o e le c t io n o f c o u n t y
o ffic e r s : t e r m s , v a c a n c ie s .
A m e n d m e n t T e n — T o A r t. 1 4 . S e o . 7 . — R e l a t i n g t o e le c t io n o f C o u n ty
fct C o m m is s io n e r s a n d A u d ito r s .

Seattle, W ash.— B a l l a r d D e b t C a s e A p p e a l e d . —It is re­
ported that an appeal has been taken from the decision of
the Superior Court in the case of F. F. Fisher and wife vs.
the City of Seattle and Matt II. Cormley, County Treasurer.
The suit was brought for the purpose of restraining the col­
lection of a tax levied on property owned by Mr. Fisher and
wife in the former City of Ballard for the purpose of reim­
bursing the City of Seattle for the payment of certain ob­
ligations of Ballard. The complaint was dismissed by the
Superior Court. The obligations referred to consisted of
$65,000 warrants which were paid off at the time of annexa­
tion. In order to obtain funds to repay Seattle, a bond issue
was ordered and a tax for the same was levied on all the prop­
erty in the Thirteenth Ward, formerly the City of Ballard.
In the appeal it is claimed that as the warrants were volun­
tarily paid by Seattle the debt does not now exist, and
therefore bonds can not legally be issued to fund a debt which
has already been canceled. It is also alleged that in paying
the warrants Seattle invested in an illegal debt, as at the
time of annexation the City of Ballard had already exceeded
the limit of indebtedness fixed by the constitution. The
question of issuing new bonds and ratiyfing the illegal in­
debtedness of Ballard was adopted by the voters on March 3
1908. It is held, however, that the citizens of the City of
Seattle as a whole could not legally ratify the indebtedness
of Ballard and tax Ballard alone for it.
fS Virginia—W est Virginia.— D e b t C a s e A g a i n P o s t p o n e d .—
The debt controversy suit between these States will not be
argued until Nov. 4. This date was set by Special Master
Littlefield as a result of the recent meeting of counsel for both
States at Mr. Littlefield’s office in New York City. The
postponement was granted upon the request of the attorneys
for West Virginia, who asked for an adjournment until Jan. 1
on the ground that there were typographical errors in the
printed record and that the same had been in their hands
for only a short time. A meeting will be held Oct. 8 on which
date the attorneys for both sides are to haye ready for cor­
rection Jill complaints as to errors in the record. V. 89, p. 115.

B o n d C a lls and Redem p tions.
Belfast, Me.— B o n d C a l l . — On Nov. 1 the First National
Bank of Boston will redeem $113,000 4% refunding bonds
maturing Nov. 1 1925, but subject to call after Nov. 1 1905.
Payment will be made at the First National Bank in Boston.
Cuero, T e x . — B o n d C a l l . —On Oct. 15 the City Treasurer,
Walter Le Galley, will redeem the following 6 % 30-50-year
(optional) water-works bonds of Series 1: Nos. 3 to 7 in­
clusive, 11 to 25 inclusive, 33 to 56 inclusive and 60 to 65
inclusive. They are in denominations of $500 and are
dated Sept. 23 1889. Interest April 15 and Oct. 15.
Danville, K y.— B o n d C a l l . —Elsewhere in this Department
will be found the official notice to the holders of water-works
bonds Nos. 31 to 51 of the issue of 1894, to present the same
for payment at the National Bank of Commerce in New York
City. Interest on these bonds ceased July 1 1909.
Denver, Colo — B o n d C a l l .—The following bonds were called
for payment Sept. 30:
ST O R M S E W E R U O N D S.
S o u t h C a p ito l H ill S t o r m S e w e r D is tr ic t b o n d N o . 3 0 .
S A N IT A R Y S E W E R B O N D S .
E a s t S id e S a n it a r y S o w e r D is t r ic t N o . 1 b o n d s N o s . 0 2 t o 7 0 , I n c lu s iv e .
IM P R O V E M E N T B O N D S .
E a s t D o n v o r I m p r o v e m e n t D is tr ic t N o . 2 , b o n d s N o s . 8 4 t o 8 7 , I n c lu s iv e .
E a s t S id e I m p r o v e m e n t D is tr ic t N o . 2 , b o n d s N o s . 1 t o 1 5 , I n c lu s iv e .
H lirh la n d s I m p r o v e m e n t D is tr ic t N o . 1, b o n d s N o s . 3 6 a n d 3 7 .
S o u t h B r o a d w a y I m p r o v e m e n t D is tr ic t N o . 2 , b o n d s N o s . 4 8 a n d 4 9 .
S o u t h C a p ito l H ill I m p r o v e m e n t D is tr ic t N o . 1, b o n d N o . 2 8 .
S o u t h S id e I m p r o v e m e n t D is t r ic t N o . I , b o n d N o . 4 1 .
T h ir t e e n t h S t r e e t I m p r o v e m e n t D is tr ic t N o . 1, b o n d N o . 2 3 .
W e s t D e n v e r I m p r o v e m e n t D is t r ic t N o . 1 , b o n d N o . 9 8 .
P A V IN G B O N D S .
A lle y P a v in g D is t r ic t N o . 8 . B o n d s N o s . I t o 1 2 , I n c lu siv e .
PA RK BO ND S.
H ig h la n d s P a r k D is t r ic t b o n d s N o s . 2 5 2 to 2 5 5 , i n c lu s iv e .

Reading, Pa.— B o n d C a l l . —Interest ceased Oct. 1 on
all outstanding refunding loan Series “G” bonds of the issue
of April 1 1893. They are numbered from 41 to 51 inclusive
and from 71 to 110 inclusive. The bonds are payable at the
City Treasurer!b office.
Territory of Hawaii.— B o n d C a l l . — Call is made for pay­
ment Nov. 1 at the Wells, Fargo & Co.’s bank in New York
City of $30,000 fire-claim bonds Nos. 1 to 30 inclusive, au­
thorized by an Act of Congress approved Jan. 20 1903.
Yazoo—Mississippi Delta Leeve District, Miss.— B o n d
C a l l . —Call was made for payment October 1 in Clarksdaleof
the following 6 % 20-30-year (optional) bonds dated Oct. 1
1889: Nos. 1 to 5 inclusive; 56 to 60 inclusive; 76 to 182
inclusive; 188 to 190 inclusive; 201 to 232 inclusive; 258 to
334 inclusive; 336 to 349 inclusive, and 369 to 450 inclusive.
Denomination $1,000. Interest semi-annual.



B o n d P r o p o sa ls a n d N egotiatio n s this week
kave bums as follows 2
Akron, Ohio.—B o n d S a l e . — Bonds aggregating $121,765
were disposed of on Sept. 24 as follows:
5 6 .0 0 0 4 %

A k r o n S t r e e t I m p r o v e m e n t b o n d s , d a t e d J u ly 15 1 9 0 7 .
In ­
t e r e s t s e m i-a n n u a l.
M a tu r it y o n J u ly 15 a s fo llo w s : 8 4 ,0 0 0
in 1 9 1 2 a n d 5 2 ,0 0 0 In 1 9 1 3 . A w a r d e d to t h e S e c o n d N a t io n a l
B a n k o f A k r o n fo r 5 6 ,0 0 5 .
2 ,0 4 0 4 ) 3 % E a s t M iller A v e n u e p a v in g b o n d s , d a t e d J u ly 1 1 9 0 7 .
In ter ­
e s t a n n u a l.
M a tu r it y J u ly 1 1 9 1 2 . A w a r d e d t o t h e S e c o n d
N a t io n a l B a n k o f A k r o n fo r 5 2 .0 6 8 5 6 .
2 ,2 8 0 5%
R h o d e s A v e n u e p a v in g b o n d s , d a t e d M a rch 1 1 9 0 8 .
In ter e st
a n n u a l.
.M a tu rity 5 1 ,1 4 0 o n M a r ch 1 in e a c h o f t h e y e a r s
1 9 1 2 a n d 1 9 1 3 . A w a r d e d to t h e W e s te r n - G e r m a n B a n k o f
C in c in n a t i fo r 5 2 ,3 0 5 2 0 .
1 ,1 0 0 5%
H ig h S t r e e t p a v in g b o n d s , d a t e d M a y 15 1 9 0 8 .
In terest
a n n u a l. M a tu r it y o n M a y 15 a s fo llo w s : 5 6 0 0 In 1 9 1 2 a n d
5 5 0 0 In 1 9 1 3 . A w a r d e d to t h e W e s te r n -G e r m a n B a n k o f
C in c in n a ti fo r 5 1 .1 0 6 7 5 .
1 .0 0 0 5%
O r le a n s A v e n u e p a v in g b o n d s , d a t e d A u g . 1 1 9 0 8 .
In terest
a n n u a l.
M a tu r it y 5 5 0 0 o n A u g . 1 In e a c h o f t h e y e a r s 191 2
a n d 1 9 1 3 . A w a r d e d to W . H . E v a n s & S o n o f A k r o n fo r
5 1 ,0 1 6 .
,
6 .0 0 0 5%
A k r o n p o lic e s t a t i o n b o n d s , d a t e d S e p t . 1 1 9 0 8 . I n t e r e s t
a n n u a l.
M a tu r it y 5 3 ,0 0 0 o n S e p t . 1 In e a c h o f t h e y e a r s 191 2
a n d 1 9 1 3 . A w a r d e d to t h e N e w F ir s t N a t io n a l B a n k o f
C o lu m b u s fo r 5 6 ,1 2 6 .
5 ,6 0 0 5%
M a y fie ld A v e n u e p a v in g b o n d s , d a t e d O c t . 1 1 9 0 8 . I n t e r e s t
a n n u a l. M a tu r it y 5 7 0 0 y e a r ly o n O c t . 1 fr o m 1 9 1 2 t o 1919
I n c lu s iv e . A w a r d e d t o t h e N e w F ir s t N a t io n a l B a n k o f
C o lu m b u s fo r 5 5 ,8 2 4 .
. ^ t
„ „„„„
1 ,2 0 0 5%
W e s tH 'l'h o r n to n S t r e e t s e w e r b o n d s , d a t e d O c t . 15 1 9 0 8 .
I n t e r e s t s e m i-a n n u a l
M a tu r ity O c t. 15 1 9 1 2
A w a r d e d to
W . 11. E v a n s & S o n s o f A k r o n fo r 5 1 ,2 1 6 6 8 .
3 .0 0 0 5%
p u b lic - im p r o v e m e n t b o n d s , d a t e d D e c . 1 1 9 0 8 .
In terest
s e m i-a n n u a l.
M a tu r it y 5 1 ,0 0 0 y e a r ly o n D e c . 1 fr o m 1012
to 1914 I n c lu s iv e . A w a r d e d to t h e W e s te r n -G e r m a n B a n k
o f C in c in n a ti fo r 5 3 ,0 7 5 1 1 .
2 .0 0 0 5%
p u b lic - im p r o v e m e n t b o n d s , d a t e d J a n . 1 1 9 0 9 .
I n t e r e s t s e m i­
a n n u a l.
iM a tu rlty 5 1 .0 0 0 o n J a n . 1 In e a c h o f th e y e a r s 1913
a n d 1 9 1 4 . A w a r d e d to t h e C e n tr a l S a v in g s & T r u s t C o . o f
A k r o n fo r 5 2 ,0 4 1 .
5 .0 0 0 5%
p u b lic - im p r o v e m e n t b o n d s , d a t e d D e c . 15 1 9 0 8 .
In terest
s e m i-a n n u a l.
M a tu r it y 8 1 .0 0 0 y e a r ly o n D e c . 15 fr o m 1913
t o 1 9 1 7 I n c lu s iv e . A w a r d e d to H a y d e n , M iller & C o . o f
C le v e la n d fo r 5 5 ,2 1 0 .
2 .0 0 0 5%
p u b lic - im p r o v e m e n t b o n d s , d a t e d A p r il 1 1 9 0 9 .
In ter e st
s e m i-a n n u a l.
M a tu r ity 5 1 ,0 0 0 o n A p r il 1 In e a c h o f t h e y e a r s
1 9 1 2 a n d 1 9 1 3 . A w a r d e d t o t h e C e n tr a l S a v in g s & T r u s t
C o . o f A k r o n fo r 5 2 ,0 2 8 .
1 .0 0 0 5%
Q u a r a n tin e b o n d s , d a t e d M a rch 1 5 1 9 0 9 .
In te r e s t s e m i­
’
a n n u a l.
M a tu r it y M a rch 15 1 9 1 2 . A w a r d e d t o W . H .
E v a n s & S o n o f A k r o n to r 5 1 ,0 1 1 .
7 1 0 0 5%
R u s s e ll A v e n u e p a v in g b o n d s , d a t e d M a y 15 1 9 0 9 .
In terest
s e m i-a n n u a l o n M a y 15 a s fo llo w s : 5 1 ,0 0 0 y e a r ly fr o m 19 1 2
t o 19 1 6 I n c lu s iv e -a n d 5 2 .1 0 0 In 1 9 1 7 . A w a r d e d t o H a y d e n ,
M iller & C o . o f C le v e la n d fo r 5 7 ,3 6 8 .
2 ,5 0 0 4 1 3 % Q u a r r y S t r e e t p a v in g b o n d s , d a t e d A u g . 1 1 9 0 9 .
In terest
s e m i-a n n u a l.
M a tu r ity 8 5 0 0 y e a r ly o n A u g . 1 fro m 1 9 1 0 to
19 1 4 in c lu s iv e . A w a r d e d t o t h e S e c o n d N a t io n a l B a n k o f
A k r o n fo r 5 2 ,5 3 4 6 0 .
7 ,1 7 0 4 ) 3 % C h er r y S t r e e t p a v in g b o n d s , d a t e d A u g . 1 1 9 0 9 .
In ter e st
s e m i-a n n u a l.
M a tu r ity o n A u g . 1 a s fo llo w s : 8 1 ,4 0 0 y e a r ly
fro m 1 9 1 0 to 191 3 I n c lu s iv e a n d 5 1 .5 7 0 In 1 9 1 4 . A w a r d e d t o
th e S e c o n d N a t io n a l B a n k o f A k r o n fo r 5 7 ,2 7 0 7 1 .
7 ,9 0 0 4 )3 % A r c h a n d F r a n k s tr e e t s p a v in g b o n d s , d a t e d A u g . 16 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
M a tu r ity o n A u g . 16 a s fo llo w s : 8 1 ,6 0 0
y e a r ly fro m 1 9 1 0 to 1 9 1 3 I n c lu siv e a n d 8 1 ,5 0 0 in 1 9 1 4 .
A w a r d e d to t h e S e c o n d N a t io n a l B a n k o f A k r o n fo r 5 8 ,0 0 8 4 7 .
2 4 ,2 7 5 4 ) 3 % p u b lic - im p r o v e m e n t b o n d s , d a t e d A u g . 16 1 9 0 9 .
In ter e st
s e m i-a n n u a l.
M a tu r ity o n A u g . 16 a s fo llo w s ; 5 6 ,0 0 0 y e a r ly
fr o m 191 2 to 19 1 4 I n c lu s iv e a n d 5 6 ,2 7 5 In 1 9 1 5 .
A w a r d e d to
H a y d e n , M iller & C o . o f C le v e la n d fo r 5 2 4 ,5 9 7 .
17 5 0 0 4 ) 3 % N o r t h H o w a r d S t r e e t p a v in g b o n d s , d a t e d A u g . 16 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
M a tu r it y o n A u g . 16 a s fo llo w s : 5 4 ,0 0 0
y e a r ly fr o m 19 1 0 t o 1 0 1 3 I n c lu siv e a n d 5 1 .5 0 0 In 1 9 1 4 .
A w a r d e d to t h e S e c o n d N a t io n a l B a n k o f A k r o n fo r 5 1 7 ,­
720 55.
1 3 ,8 0 0 4 ) 3 % M a p le S t r e e t p a v in g b o n d s , d a t e d A u g . 16 1 0 0 9 . I n t e r e s t
s e m i-a n n u a l.
M a tu r it y o n A u g . 16 a s fo llo w s : 5 3 ,0 0 0 y e a r ly
fr o m 1 9 1 0 to 1 9 1 3 a n d 8 1 ,8 0 0 In 1 9 1 4 . A w a r d e d t o t h e
S e c o n d N a t io n a l B a n k o f A k r o n fo r 5 1 3 .9 8 0 6 0 .
3 ,3 0 0 4 ) 3 % P a y n e A v e n u e p a v in g b o n d s , d a t e d A u g . 16 1 9 0 9 .
M a tu r ity
5 3 3 0 y e a r ly o n A u g . 16 fro m 1 9 1 0 to 1 9 1 9 I n c lu s iv e . A w a r d e d
to t h e N e w F ir s t N a t io n a l B a n k o f C o lu m b u s fo r 5 3 ,3 3 5 .

B o n d s N o t S o l d . — No sale was made of $2,800 5% 3-4-year
(serial) public-improvement bonds dated May 1 1909, pro­
posals for which were also asked until Sept. 24. The above
are not new issues but bonds held by the .sinking fund as
an investment.
Alexandria, Rapides Parish, La.— B o n d S a l e . — On Sept. 27
the $40,000 5 % 40-year public-improvement bonds described
in V. 89, p. 795, were awarded to Ulen, Sutherlin & Co. of
Chicago for $40,101 75 (100.254) and accrued interest.
Spitzer & Co. of Toledo offered 101.50 and Coffin & Crawford
of Chicago bid par and accrued interest.
Alliance, Stark County, Ohio.—B o n d S a l e . —The two
issues of street bonds described in V. 89, p. 677, were
awarded as follows on Sept. 17:
5 5 .0 0 0 4 ) 3 %

( c i t y ’s p o r tio n ) b o n d s a w a r d e d to B a r t o , S o o t t & C o . o f
C o lu m b u s A t 1 0 3 .0 9 .
M a tu r it y $ 2 ,0 0 0 O c t. 1 1 9 1 5 a n d $ 3 ,0 0 0

1 3 ,5 0 0
’

a s s e s s m e n t b o n d s a w a r d e d to H a y d e n , M iller & C o . o f C lc v e la n d a t 1 0 1 .8 9 6 .
M a tu r ity 8 2 .7 0 0 y e a r ly o n O c t . t fro m
1 9 1 0 to 19 1 4 in c lu s iv e .

5%

Amboy, Blue Earth County, M inn— B o n d s V o te d . —The
voters of this city on August 31 authorized the issuance of
$4,000 5% 10-year bonds. Interest semi-annual.
Andrews, Cherokee County, No. Caro.— B o n d O f f e r in g . —
Proposals will be received at once for $20,000 6 % water and
sewer bonds authorized by a vote of 104 to 3 on Sept. 23.
Interest not to exceed G%.
Archer City School District (P. O. Archer City), Archer
County, Tex.— B o n d s N o t S o l d . — No sale has yet been made
of the S2 0 , 0 0 0 5% 5-40-year (optional) school-building
bonds described in V. 89, p. 485.
Areola School District, Madera County, Cal.— B o n d S a l e .
— On Sept. 20 Isaac Springer & Co. of Los Angeles were
awarded the $4 , 0 0 0 6 % 1 - 1 0 -year (serial) gold coupon school­
building bonds described in V. 89, p. 548, at 104.875 and
accrued interest—a basis of about 4.977%. Following are
the bids:
I SDrlnscer & C o ., L o s A u tr -$ 4 ,1 9 5 0 0 j VV. R . S t a a t s &>C o ,,L o s A n .$ 4 ,0 6 8 50
J . . L . B u t u l, M a d e r a .............. 4 ,1 0 9 0 0 |B a r r o l l & C o ., L o s A n g e l e s . * 4 ,0 5 0 0 0

Ashtabula County (P. 0 . Jefferson),Ohio.— B o n d S a l e s .— B a n k o f B e r e a C o ., B e r e a - . 5 1 .2 5 7 24 S e a s o n g o o d I & iM a y e r , C in ­$ 1 ,2 1 5 00
The $ 3 5 , 0 0 0 4 y 2 % 1 - 10-year (serial) coupon road-improve­ VWin. tIot.n TBoadndk in&g CCoo.,..VCini nt oe .n. 11,2,255 51 0000 N ecwin nFairt is___________________
t N a t io n a l B a n k .
ment (Windsor and Orwell Townships) bonds described in H a y d e n , M iller & C o ., C le v . 1 ,2 2 8 0 0 C o l u m b u s _______________ 1 ,2 0 6 0 0
M a tu r it y $ 1 0 0 e a c h s i x m o n th s fr o m A p r il 1 1 9 1 4 to O c t . 1 1 9 1 9 I n c lu s iv e .
V. 89, p. 795, were sold on Sept. 27 to the First National
Bethany Township (P. O. Statesville), Iredell County,
Bank of Cleveland at 101.945 and accrued interest—a basis
N. C.— B o n d E l e c t i o n . — An election will be held Oct. 6 to
of about 4.10%. The following offers were received:
vote upon a proposition to issue $12,500 30-year railroadF ir s t N a t . B a n k , C l c v e .- $ 3 5 ,0 8 1 0 0 C le v e la n d T r u s t C o . , C lev .. $3 5 ,5 6 3 5®
aid bonds.
H a y d e n , M llle r & C o .,C le v . 3 5 ,0 7 0 0 0 C . E . D e n is o n & C o ., C l e v . 3 5 ,5 4 0 0 °
W
e
s
te
r
n
-G
e
r
m
a
n
B
a
n
k
,
B r e e d & H a r r is o n , C i n e . . 3 5 ,6 5 6 2 5
Big Spring Independent School District (P. O. Big Spring),
C in c in n a t i_______________ 3 5 ,5 3 1 10
D a v ie s & B e r tr a m C o .,
C in c in n a t i_____ __________ 3 5 ,6 4 3 0 0 O tis <fc H o u g h , C le v e la n d - 3 5 ,4 5 5 0 0
Howard County, Tex.— B o n d s R e g i s t e r e d . — We are informed
F ift h - T h ir d N a t . B a n k ,
I lo o b le r
&
C u m m in g s ,
that on Sept. 23 the State Comptroller registered $16,000 5%
C in c in n a t i_______________ 3 5 ,4 2 7 00
3 5 ,0 2 7 51
T o l e d o ..........................
5-40-year (optional) bonds.
W e ll, I to t h & C o ., C i n e . . 3 5 ,6 2 2 0 0 S e a so n g O o d & M a y e r, C in ­
c i n n a t i . .....................
3 5 ,4 2 0 0 0
N ew
F ir s t N a t .
Bank,
Blanco County Common School District (P. O. Johnson
C o l u m b u s ----------------------- 3 5 ,6 0 9 0 0 VV. I t . T o d d & C o ., C i n e . . 3 5 ,2 5 0 0 0
The above bonds were awarded on Aug. 26 to Hayden, City), Tex.— D e s c r i p t i o n o f B o n d s . —The $6,000 5% 10-20Miller & Co. of Cleveland (V. 89, p. 737), but were subse­ year (optional) bonds registered by the State Comptroller
quently refused by them “because of a technical error in on July 28 (V. 89, p. 362) are dated June 10 1909. Denomi­
nation $100. Interest payable annually on April 10.
advertising.”
Dispatches state that Barto, Scott & Co. of Columbus,
Bloomington, McLean County, 111.—B o n d s A u t h o r i z e d .—
offering 102.50, were the successful bidders on Sept. 30 for An ordinance has been passe d providing for the issuance of
the $13,000 4j^% coupon Lake Road (Saybrook Township) $50,000 of the $150,000 4% 10-20-year (optional) coupon
bonds described in V. 89, p. 795. Maturity on Oct. 1 as water-supply-improvement bonds voted on Sept. 14. See
follows: $1,000 yearly from 1910 to 1916 inclusive and V. 89, p. 737. Denomination $1,000.
$2,000 yearly from 1917 to 1919 inclusive.
Boyce, Rapides Parish, L a.— B o n d S a l e . — 'The $15,000
Atoka, Okla.— B o n d S a l e . —This city disposed of $30,000 brick-school-building bonds voted on Sept. 14 (Y. 89, p. 795)
sewerage, $ 1 0 , 0 0 0 refunding and $ 1 0 , 0 0 0 water-works 6 % have been sold.
Brainerd, Crow Wing County, M inn.— B o n d s V o t e d . —Ac­
25-ycar bonds on Sept. 6 to John H. Mosier of Muskogee
and A. J. McMahan of Oklahoma City at 100.10. Denomi­ cording to reports an election held Sept. 2 1 resulted in a vote
nation $1,000. Interest semi-annually at the fiscal agency of 664 “for” to 93 “against” a proposition to issue $57,500
bonds for the purchase of the plant of the Minnesota Water
in New York City.
Badger Irrigation District, Morgan County, Col.— B o n d s Works Co.
O f f e r e d b y B a n k e r s . — Bert Clark & Co. of Chicago are offer­
Bristol Township (P. O. Bristolville), Trumbull County,
ing for sale $227,000 6 % municipal bonds. These securities Ohio.—B o n d S a l e . — On Sept. 15 N. A. Gilbert was awarded
are part of an authorized issue of $250,000 bonds, the re­ $2,000 6 % road-improvement bonds for $2,008 33 (100.416)
maining $23,000 of which will be “reserved for future use, and accrued interest.
if needed.”
D e n o m in a tio n 5 1 ,0 0 0 .
D a te S e p t. 1 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l*
D e n o m in a tio n $ 5 0 0 .
D a te J u n e 1 1 9 0 9 .
I n t e r e s t s e m i-a n n u a lly a t t h e
N a t io n a l C it y B a n k In N e w Y o r k C it y o r t h e C o u n ty T r e a s u r e r ’s o f fic e In
F ort M organ.
M a tu r it y o n J u n e 1 a s f o llo w s : $ 1 2 ,5 0 0 In 1 9 2 0 , $ 1 5 ,0 0 0 In
1 9 2 1 , $ 1 7 ,5 0 0 In 1 0 2 2 , $ 2 0 ,0 0 0 In 1 9 2 3 , $ 2 2 ,5 0 0 In 1 0 2 4 , $ 2 5 ,0 0 0 In 1 9 2 5 ,
3 2 7 ,5 0 0 In 1 9 2 6 , $ 3 2 ,5 0 0 In 1 9 2 7 , $ 3 7 ,5 0 0 In 1 9 2 8 a n d $ 1 7 ,0 0 0 In 1 9 2 0 .

Baldwinsville, Onondaga County, N. Y .— B o n d S a l e . —The
$50,000 registered refunding water bonds offered on Sept. 27
(V. 89, p. 795) were taken in exchange by the holders of the
bonds to be refunded. The new issue will bear 4% interest.
Barnesville School District (P. O. Barnesville), Clay
County, Minn.—B o n d S a l e . —An issue of $6,000 4
re­
funding bonds was awarded on Sept. 18 to Wells & Dickey
Co. of Minneapolis at par.
D e n o m in a tio n $ 1 ,0 0 0 .
M a tu r ity 10 y e a r s .

D a te

S ep t.

1

1909.

In terest

s e m i-a n n u a l.

M a tu r ity 5 1 ,0 0 0 o n M a rch 1 1 9 1 0 and
i d $ 1 ,0 0 0 o n S e p t . 1 1 9 1 0 .

Broken Bow, Custer County, Neb.— D e s c r i p t i o n o f B o n d s .
— We are advised that the $35,000 high-school-building
bonds voted on Aug. 28 (V. 89, p. 677) carry 4><j% interest.
Maturity Oct. 1 1929, subject to call after five years. This
issue, we are advised, will be placed on the market in October.
Brown County School District No. 40, Minn.— B o n d O f fe r ­
i n g R e s c i n d e d . — No sale was made of $1,500 6 % school-house
bonds, proposals for which were advertised for until Sept. 20.
We are inf ormed that “they were voted down at a special
school meeting on Sept. 16.”
Bruno, Pine County, Minn.—B o n d S a l e . — On Sept. 27 an
issue of $5,000 6 % 17-20-year (serial) refunding bonds was
awarded to N. W. Halsey & Co. of Chicago at 111.67. The
bids were as follows:

Bartlesville School District (P. O. Bartlesville), Washing­
ton County, Okla.— B o n d O f f e r i n g . —This district is offering N . VV. H a ls e y & G o ., C h i c . $ 5 , 583 S O F arin. & M e r c h a n ts ' S t a t e
for sale $25,000 5% bonds due in 1929. Interest January C . H . C o ffin , C h ic a g o ............ 5 ,0 2 6 0 0 B a n k , H ln c k ly , M in n . _ a $ 5 ,0 0 0 0 0
----------I C o m m . I n v e s t . O o „ D u lu t h b 5 ,0 0 0 00
and July.
,
a L e ss $ 1 2 5 e x p e n s e s , b L e s s $ 5 0 0 e x p e n s e s .
Batavia, Genesee County, N. Y .—B o n d O f f e r i n g . —Pro­
D e n o m in a tio n $ 1 ,0 0 0 .
D a te S e p t. 15 1 9 0 9 .
In ter e st o n S e p t. 15.
posals will bo received until 2 p. m. Oct. 15 by J. H. Wood,
Burleson County Improvement District No. 1, Tex.—
Village Clerk, for the $375,000 registered or coupon sewer- B o n d s V o t e d . —The resident tax-paying voters of this
system bonds. Bids are requested as follows: (a) Bonds to district have unanimously authorized the issuance of $215,­
bo delivered in one block as soon as issued; or (6 ) bonds to be 320 5% levee-construction bonds.
delivered $75,000 as soon as issued and $75,000 on each
D e n o m in a tio n $ 1 ,0 0 0 .
I n t e r e s t A p ril 1 a n d O o t. 1 . M a tu r it y 4 0 y e a r s ,
of the following dates: April 1 1910, July 1 1910, Oct. 1 1910 s u b j e c t t o c a ll a f t e r 2 0 y e a r s .
and Jan. 1 1911.
Caldwell, Canyon County, Idaho.— B o n d s V o t e d . —The
A u t h o r it y , S e c t io n 129 o f G e n e r a l V illa g e L a w s; a ls o v o t e o f 7 3 8 “ f o r ”
election held Sept. 8 resulted in a vote of 343 to 83 in favor
to 3 3 8 “ a g a i n s t ” a t e le c t io n h e ld J u l y 1 1 9 0 9 .
D e n o m in a tio n $ 1 ,0 0 0 .
of the proposition to issue the $26,059 78 5% 10-20-year
D a te O ct. 1 1009.
I n t e r e s t (r a t e n o t t o o x c c e d 5 % ) o n J a n . 1 a n d J u ly 1
a t th o B a n k o f B a t a v i a o r a t s u c h b a n k in g I n s tit u tio n In N e w Y o r k C it y
(optional) paving-intersection bonds mentioned in V. 89,
as m ay be agreed upon .
M a tu r ity $ 1 5 ,0 0 0 y e a r ly o n J u l y 1 fro m 1 9 1 4 to
p. 485.
1938 I n c lu s iv e .
C e r tifie d c h e o k fo r 2% o f b id , p a y a b le t o t h e V illa g e T r e a s ­
u r e r , Is r e q u ir e d . N o d e b t a t p r e s e n t. T o t a l a s s e s s e d v a lu a t io n 1 9 0 9 ,
Canyon City, Randall County, Texas.— D e s c r i p t i o n o f
$ 0 ,6 0 0 ,0 5 4 . T h e s e b o n d s w e r e o ffe r e d o n S e p t . 2 5 , b u t a ll b id s r e c e iv e d
B o n d s . — We are advised that the $25,000 coupon sewerageo n th a t d a y w ere r e je c te d .
Beaumont Navigation District, Jefferson County, Tex.— system bonds voted (V. 89, p. 238) on July 16 will bear
B o n d s A u t h o r i z e d . —The Commissioners' Court on Sept. 4 5% interest.
D e n o m in a tio n $ 1 ,0 0 0 .
D a te A u g u st 3 1 9 09.
I n t e r e s t a n n u a ll y a t t h e
passed an order authorizing the issuance of $498,000 5%
T r e a s u r e r ’s o f fic e o r In N e w Y o r k .
M a tu r ity 4 0 y e a r s , s u b j e c t t o c a ll
coupon bonds voted July 8 1909. The proceeds of the issue Ca fity
te r 2 0 y e a r s .
N o b o n d e d d e b t a t p r e s e n t. F l o a t i n g d e b t $ 2 ,0 6 6 .
will be used to deepen the proposed Sabine-Neches Canal to A s s e s se d v a lu a t io n $ 7 7 3 ,0 0 0 .
25 feet, improve the Neches River up to the city wharf at
Cass County (P. O. Walker), Minn.— B o n d O f f e r i n g .—
♦Beaumont and construct the necessary locks.
Proposals will be received until 10 a. m. October 5 by the
D e n o m in a tio n $ 1 ,0 0 0 .
D a te S e p t. 1 1909.
I n t e r e s t s e m i-a n n u a lly a t
County Commissioners, W. B. Jones, Chairman, for $90,000
t h e C o u n ty T r e a s u r e r ’s o f fic e o r t h e N a t io n a l C ity B a n k In N e w Y o r k C it y ,
coupon funding bonds.
a t o p t io n o f h o ld e r .
M a tu r it y f o r t y y e a r s , s u b j e c t t o c a ll a f te r t e n y e a r s .
n $ 1 ,0 0 0 .
D a te N o v . 1 1909.
I n t e r e s t a n n u a ll y o n
Belden, Cedar County, Neb.— B o n d S a l e . — On Sept. 11 D eDc eemn obme rin1a tio
a t p la c e t o s u it p u r c h a s e r . M a tu r it y $ 6 ,0 0 0 y e a r ly o n D e o . 1
the $7,500 5% 5-20-year (optional) water bonds voted on fr o m 1 9 1 0 t o 1 9 2 4 I n c lu s iv e . C e r tifie d c h e c k fo r $ 1 ,0 0 0 o n a n a t io n a l
T r e a s u r e r , Is r e ­
July 26 (V. 89, p. 549) were purchased by the.State Treas­ qb ua nirke do. f t hSe u Sc ct ae st sef uolf bMidind ne re s ot ota ,fupranyisahb leb otnod st h. e CIo. u nP ty
. B y h r e Is C o u n ty
A u d ito r .
urer. Denomination $500. Interest August.
Cecil, Paulding County, Ohio.— B o n d O f f e r in g . — Proposals
Bell School District, Santa Barbara County, Cal.— B o n d
O f f e r i n g . — Proposals will be received until 1 0 a. m. Oct. 4 will be received until to-day (Oct. 2 ) by E. J. Stafford,
by the Board of Supervisors for $10,000 5% 1-10-year Village Clerk, for $1,250 5% coupon sidewalk bonds.
D e n o m in a tio n $ 2 5 0 .
D a te S ep t. 1 1909.
I n t e r e s t a n n u a ll y In C e c il,
(serial) bonds dated Sept. 7 1909. Interest annual. C. A.
M a tu r it y $ 2 5 0 y e a r ly fr o m 1 9 1 0 to 1 9 1 4 I n c lu s iv e .
Hunt is County Clerk.
Center, Shelby County, Tex.— D e s c r ip tio n o f B o n d s . —The
Benton County School District No. 36, Wash.— B o n d S a l e . $2 0 , 0 0 0 water-system-extension bonds recently voted (V. 89,
— On Sept. 23 $2,500 coupon school-building bonds were p. 239) will be issued in coupon form and bear 5% interest.
awarded to the State of Washington as 5 s. There were no
D e n o m in a tio n $ 5 0 0 .
D a te S e n t. 15 1 9 09.
I n t e r e s t a n n u a lly In C e n te r
other bidders.
M a tu r ity 4 0 y e a r s , s u b j e c t to c a ll a f t e r 2 0 y e a r s .
B o n d ed d e b t a t p resen t ,
A u t h o r it y S e o tto n s 2 8 8 , 2 8 9 , 2 9 0 , & c ., o f C o d e o f P u b lic I n s tr u c t io n
L a w s o f 1 8 9 7 , p a g e 76 e t s e q .
D a t e , d a y o f I s su e o r o n t h e fir s t o f s o m e
m o n th , a t t h e o p t io n o f t h e h o ld e r .
I n t e r e s t a n n u a lly a t t h e o f fic e o f t h e
C o u n ty T r e a s u r e r .
M a tu r it y 5 y e a r s .
B o n d e d d e b t , t h is Issu e.

$ 6 ,0 0 0 .

F lo a t in g d e b t , $ 1 ,5 0 0 .

A s s e s s e d v a l u a t i o n . $ 6 1 8 ,0 0 0 .

Charlotte, Eaton County, Mich.— P r ic e P a i d f o r B o n d s .—
The price paid for the $6,000 city-hall and fire-engine-house
Berea, Cuyahoga County, Ohio.— B o n d S a l e . — On Sept. 27 bonds recently awarded to Alfred Ronk of Brooklyn, N. Y.
tho $1,200 5 % coupon West Grand St. assessment bonds (V. 89, p. 738), was par for 4s.
Chautauqua Union Free School District No. 3 (P. O.
described in V. 89, p. 795, were awarded to the Bank of
Berea Company in Berea at 104.77 and accrued interest. Chautauqua), Chautauqua County, N. Y .— B o n d S a l e . —The
Following^arejdiojbids:
First National Bank,of Cleveland was awarded on Sept. 25




Conway, Beaver County, Pa.— B o n d O f f e r i n g . — Proposals
the $16,000 4*^% 10-25-year (serial) registered school­
building bonds described in V. 89, p. 738, at 103.17 and will be received until 8 p. m. Oct. 4 by Frank S. Brown,
accrued interest—a basis of about 4.242%. Following are Secretary of Council, for $20,000 5% coupon municipalwater-plant bonds.
the bidders:
F ir s t N a t . B a n k , C l e v e la n d - - 1 0 3 .1 7 IA . B . L e a c h & C o ., N e w Y o rk _ 1 0 1 .6 5
A d a m s & C o ., N e w Y o r k ---------1 0 1 . 6 5 |S . A . K e a n & C o ., C h ic a g o _____1 0 0 .1 0

D e n o m in a t io n $ 1 ,0 0 0 .
D a te A u g. 1 1909.
I n t e r e s t s e m i-a n n u a l.
M a tu r it y $ 1 ,0 0 0 y e a r ly o n A u g . 1 fr o m 1 0 1 8 t o 1 9 3 7 I n c lu s iv e . P u r c h a s e r
t o p a y a c c r u e d in t e r e s t fr o m A u g . 1 1 9 0 9 . T h e s e b o n d s w e r e o ffe r e d l a s t
S e p t e m b e r b u t a n i n ju n c tio n w a s g r a n t e d r e s t r a in in g t h e s a le . W e a r e
a d v i s e d t h a t t h e C o u rt r e c e n t ly d e c id e d t h a t t h e b o r o u g h m ig h t p r o c e e d
to s e ll Its b o n d s a n d b u ild Its o w n p la n t .

Chaves County (P. O. Roswell), New Mex.— P r i c e P a i d
B o n d s . — We are advised that the price paid for the
$125,000 5% 20-30-year (optional) court-house and jail
bonds recently awarded to E. H. Rollins & Sons of Denver
Cookville Independent School District (P. O. Cookville),
(V. 89, p. 678) was 103.64. This is on an interest basis of Titus County, Tex.— B o n d O f f e r i n g . —This district is offering
about 4.717% to the optional date and about 4.771% to at par and accrued interest the $10,000 5% 10-40-year
full maturity.
(optional) bonds registered by the State Comptroller (V. 89,
Christoval Independent School District (P. 0 . Christoval), p. 425) on Aug. 6 . Denomination $250. Date March 1
Tom Green County, Tex.—B o n d s R e g i s t e r e d . —The State 1909. Interest annual.
Comptroller registered $7,000 5% 20-year bonds on Sept. 15.
Corlett (P. O. Station D, Cleveland), Cuyahoga County,
Clark County (P. O. Jeffersonville), Ind.—B o n d S a l e . — Ohio.— B o n d O f f e r i n g . — Proposals will be received until
The Farmersburg Bank of Farmersburg has purchased 12 m. Oct. 6 by W. H. Jantzen, Village Clerk, for the fol­
$10,600 4J^% Wood Township gravel-road-construction lowing 5% paving bonds:
$ 2 ,9 4 1 31 Y a le S t r e e t b o n d s .
M a tu r ity $ 5 0 0 b ie n n ia lly o n S e p t . 1 fr o m
bonds at par.

for

p*.D e n o m in a tio n $ 2 6 5 .
D a t e J u ly 15 1 9 0 9 . I n t e r e s t M a y a n d N o v e m b e r .
M a tu r it y $ 2 6 5 e a c h s ix m o n th s Ir o m M a y 1 9 1 0 to N o v . 192 9 I n c lu s iv e .

191 1 to 1 9 1 7 in c lu s iv e a n d $ 9 4 1 31 S e p t . 1 1 9 1 9 .
9 14 43 S u n se t S tr e e t b o n d s.
M a tu r ity $ 5 0 0 b ie n n ia lly o n S e p t . 1 fro m
1911 t o 1 9 1 7 I n c lu s iv e a n d $ 9 1 4 43 S e p t . 1 1 9 1 9 .
2 ,3 9 1 53 R a n s o m A v e n u e b o n d s .
M a tu r it y $ 5 0 0 b ie n n ia lly o n S e p t . 1
fr o m 1911 to 1 9 1 7 I n c lu s iv e a n d $ 3 9 1 53 S e p t . 1 1 9 1 9 .
D a te S ep t. 1 1909.
I n t e r e s t s e m i-a n n u a lly a t t h e S o u t h C le v e la n d
B a n k in g C o . C e r tifie d c h e c k fo r 5% o f b id , p a y a b le to t h e V illa g e C le r k ,
is r e q u ir e d .
B id s m u s t b e m a d e u p o n b la n k s fu r n is h e d b y t h e V illa g e C le r k .
2

B o n d s N o t S o l d . —It is further reported that $62,000
Charlestown Township free-pike bonds were recently offered
without success.
Cleveland, Bolivar County, Miss.—B o n d O f f e r i n g . — ProCozad, Dawson County, Neb.—B o n d s V o t e d . —The issu­
Sosals will be received until 1 2 m. Oct. 5 by A. Faries, ance
of $35,000 water-works and $5,500 electric-light 5%
layor, for $15,000 6 % gold coupon water-works bonds.
5-20-year (optional) bonds was authorized by a vote of 176
A u th o r ity S e c t io n s 3 4 1 5 , 3 4 1 6 a n d 3 4 1 9 , A n n o ta t e d C o d e o l 1 9 0 6 .
D eto 62 at an election held Sept. 25.
Crookston School District (P. O. Crookston), Minn.— B o n d
B o n d e d d e b t , i n c lu d in g t h is is s u e , $ 2 7 ,0 0 0 . N o f lo a t in g 'd e b t .
A ssessed
S a l e . —This district has sold to the State of Minnesota $18,­
v a l u a t i o n $ 3 3 5 ,9 5 0 . T h e s e b o n d s w e r e o ffe r e d w it h o u t s u c c e s s a s 5 s o n
S ep t. 7.
000 4% bonds authorized at an election held Sept. 21 by a
Clinton, Worcester County, Mass.— N o t e S a l e . — On vote of 74 to 41. Maturity $6,000 in each of the years 1927,
Sept. 25 the $10,000 4% 1-10-year (serial) coupon town-hall 1928 and 1929.
notes described in V. 89, p. 738, were awarded to Geo. A.
Danville, Va.— B o n d s V o t e d . —The election held Sept. 28
Fernald & Co. of Boston at 101.939 and accrued interest— resulted in favor of the proposition to issue the $ 1 0 0 , 0 0 0 4^>
a basis of about 3.609%. A list of the bidders follows:
30-year street and bridge improvement bonds mentioned in
G e o .A .F e r n a ld & C o ., B o s . - - 1 0 1 . 9 3 9 C ro ck er & F is h e r , B o s t o n ___ 1 0 1 .1 7 1
V. 89, p. 550.
B lo d g e t , M e rr itt & C o ., B o s .1 0 1 .8 1
W . I . J e n k in s , C lin to n ______ 1 0 1 .1 0
Darke County (P. O. Greenville), Ohio.—B o n d O f f e r i n g . —
N . W . H a rr is & C o ., B o s t o n .1 0 1 .7 5
A d a m s & C o ., B o s t o n _______1 0 1 .0 3 3
E . H . R o llin s & S o n s , B o s _1 0 1 .2 8 1 B la k e B r o s . & C o ., B o s t o n . . 1 0 0 .9 5
Proposals will be received until 1 p. m. Oct. 2 by Frank
E .M .F a r n s w o r t h & C o ., B o s .1 0 1 .2 3
A m e r ic a n B a n k in g C o ., B o s . 1 0 0 .6 7 9
Snyder, County Auditor, for $52,000 4j^% road-improve­
Clyde Park School District No. 41 (P. O. Clyde Park), ment bonds.
Park County, Mont.— B o n d S a l e . — On Sept. 15 the Union
A u t h o r it y , S e c t io n 4 6 7 0 - 1 4 to 2 0 , B a t e s A n n o ta t e d S t a t u t e s .
D e n o m i­
Bank & Trust Co. was awarded an issue of $4,500 6 % 10-20- n a t io n $ 5 0 0 . D a t e A u g . 21 1 9 0 9 . I n t e r e s t s e m i-a n n u a lly a t t h e C o u n ty
a s u r e r ’s o f fic e .
M a tu r it y o n A u g . 21 a s fo llo w s : $ 2 ,0 0 0 In 1 9 1 0 a n d
year coupon school-building bonds at par. Date Oct. 1 1909. T$ 1r0e ,0
0 0 y e a r ly fr o m 191 1 t o 1 9 1 5 , I n c lu s iv e .
P u rch a ser to p a y a ccu red
Interest in January and July.
In terest.
B id m u s t b e u n c o n d it io n a l.
Coffeyville, Kansas.— C o m m i s s i o n F o r m o f G o v e r n m e n t
These bonds have already been disposed of and are merely
A d o p t e d . —It is stated that the commission form of govern­ being re-advertised to cure defects in the original offering.
ment was adopted by the voters at an election held Sept. 14. They were awarded on Aug. 2 1 (V. 89, p. 550) to Hayden,
Colfax County School District No. 23, N. Mex.— B o n d Miller & Co. of Cleveland. After the award, however, an
O f f e r i n g . —Thos. McBride, County Treasurer (P. O. Raton), error was discovered in their maturity, which necessitated
offered at public auction yesterday (Oct. 1), $2,000 6 % their being re-advertised. Proposals were therefore asked
until Sept. 18 (V. 89, p. 613). As the County Commissioners
coupon school-house bonds.
failed to have the resolution ordering the sale of these bonds
D e n o m in a tio n $ 5 0 0 .
D a te O ct. 1 1 909.
I n t e r e s t s e m i-a n n u a lly In
R a t o n a t t h e N a t io n a l B a n k o f N e w M e x ic o o r a t t h e C o u n ty T r e a s u r e r ’s
put on record until after they had been advertised the sec­
o f fic e .
M a tu r ity 20 y e a r s , s u b e j c t to c a ll a f t e r 10 y e a r s .
ond time, Hayden, Miller & Co. objected, and for this reason
Columbus, Ohio.— B o n d s A u t h o r i z e d . — Ordinances pro­ the issue is again advertised for sale Oct. 2 .
viding for the issuance of the following coupon bonds were
Dayton Independent School District (P. O. Dayton),
passed on Sept. 20 by the City Council:
Liberty County, Tex.— B o n d s R e g i s t e r e d . — We are informed
$ 1 ,0 0 0 4 X % A l l e y w e s t B u r g e s s A v e . s e w e r -c o n s t r u c tio n (a ss e s s m e n t)
b o n d s.
M a tu r it y S e p t . 1 1 9 1 5 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
that the State Comptroller registered $ 1 0 , 0 0 0 5% 10-40-year
1 .0 0 0 4
A l l e y n o r th B e llo w s A v e . s e w e r -c o n s t r u c tio n (a ss e s s m e n t)
(optional) bonds on Sept. 1 0 .
b o n d s.
M a tu r ity S e p t . 1 1 9 1 5 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
9 .0 0 0 4% C e n te r S t . a s s e s s m e n t b o n d s .
M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t
Delaware, Delaware County, Ohio.— B o n d O f f e r i n g . —
to c a ll a f t e r S e p t . 1 1 9 1 0 .
Proposals will be received until 12 m. Oct. 4 by F. D. King,
5 0 .0 0 0 4% s t r e e t - im p r o v e m e n t ( c i t y ’s p o r tio n ) b o n d s . M a tu r it y S e p t . 1
1921.
City Auditor, for $4,600 5% coupon West Winter St. and
8 .0 0 0 4% O a k le y A v e . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t
Central Ave. paving (city’s portion) bonds.
to c a ll a f t e r S e p t . 1 1 9 1 0 .
4 .0 0 0 4% L o e f fle r A v e . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b ­
j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
5 .0 0 0 4% C o z z ln s S t . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t
t o c a ll a f t e r S e p t . 1 1 9 1 0 .
500 4
A l l e y w e s t B u r g e s s A v e . s e w e r -c o n s t r u c tio n a s s e s s m e n t
b o n d s.
M a tu r ity S e p t . 1 1 9 1 5 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
2 .0 0 0 4 y i% A l l e y n o r th C a m p b e ll S t . s e w e r -c o n s t r u c tio n a s s e s s m e n t
b o n d s.
M a tu r it y S e p t . 1 1 9 1 5 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
2 .0 0 0 4% G r a n t A v e . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t
t o c a ll a f t e r S e p t . 1 1 9 1 0 .
20 0 0 0 4% B e lv ld e r e A v e . a s s e s s m e n t b o n d s .
M a tu r ity S e p t . 1 1 9 2 1 .
7 .0 0 0 4% W ilb e r A v e . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b ­
j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
1 0 .0 0 0 4% W h e a t la n d A v e . a s s e s s m e n t b o n d s .
M a tu r ity S e p t . 1 1 9 2 1 .
1 1 .0 0 0 4% W h lt e t h o r n c A v e . a s s e s s m e n t b o n d s . M a tu r ity S e p t . 1 1 9 2 1 .
5 .0 0 0 4% s e c o n d a l le y w e s t o f M iller A v e . I m p r o v e m e n t a s s e s s m e n t b o n d s .
M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
M a1 .0 0 0 4% a l le y n o r th S p r u c e S t . I m p r o v e m e n t a s s e s s m e n t b o n d s .
t u r lt y S e p t . 1 1 9 2 1 , s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
5 .0 0 0 4% C o u r tla n d A v e . a s s e s s m e n t b o n d s . M a tu r lt y S
r ep t. 1 1921,
s u b j e c t to c a ll a f t e r S e p t . 1 1 9 1 0 .
M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t to
■ 3 ,0 0 0 4% B r u s t S t . a s s e s s m e n t b o n d s .
ca ll a f t e r S e p t . 1 1 9 1 0 .
w *
o
*

11 .0 0 0 4 % In d lan ola A v e. a sse ssm en t b on d s.

M atu rity S ep t. 1 1921.

3 .0 0 0 4 H % H a v lla n d A v e . s e w e r a s s e s s m e n t b o n d s .

1915, su b jec t to call a fte r S e p t. 1 1910.

M a tu r ity S e p t . 1

D e n o m in a tio n $ 4 6 0 .
D a te S e p t. 1 1909.
I n t e r e s t s e m i-a n n u a lly a t t h e
d e p o s ito r y o f t h e S in k in g F u n d .
M a tu r ity $ 4 6 0 y e a r ly o n S e p t . 1 fro m
1 9 1 0 to 1 9 1 9 I n c lu s iv e .
O ffic ia l c ir c u la r s t a t e s t h a t t h e c i t y h a s n e v e r
d e f a u lt e d In t h e p a y m e n t o f its o b lig a t io n s .

Delhi Drainage District (P. O. Santa Ana), Cal.—B o n d s
a letter received Sept. 29 we were advised that
no sale had yet been made of the $25,000 5% ditch bonds
offered on Aug. 28 and described in V. 89, p. 487.
Dennison, Tuscarawas County, Ohio.—B o n d S a l e . — We
arc advised that the $3,000 4 y 2 % 2-11-year (serial) coupon
Stillwater Ave. improvement bonds offered on Sept. 4
(V. 89, p. 613) were awarded to Hayden, Miller & Co. of
Cleveland for $3,041 50 (101.383) and accrued interest.
Donley County Common School District, Te x . — B o n d s
R e g i s t e r e d . —School-house 5% 5-40-year (optional) bonds to
the amount of $8,500 were registered by the State Comptroller
on Aug. 26.
Dover, Kent County, Del.— B o n d O f f e r i n g . — Proposals
will be received until 1 p. m. Oct. 4 by George E. Dawson,
Chairman Finance Committee, for $75,000 4% coupon street
and improvement bonds.
N o t S o l d . —In

2 .0 0 0 4% W a ll S t . a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t to
c a ll a f t e r S e p t . 1 1 9 1 0 .
„, ,
_
. „
5 .0 0 0 4% B r y d e n R o a d a s s e s s m e n t b o n d s . M a tu r it y S e p t . 1 1 9 2 1 , s u b ­
j e c t t o c a ll a f t e r S e p t . 1 1 9 1 0 .
1 ,2 0 0 4 H % a l le y w e s t I .o c k b o u r n e A v e . s e w e r a s s e s s m e n t b o n d s . M aD e n o m in a tio n $ 1 ,0 0 0 .
D a t e O c t. 1 1 9 0 9 ,
I n t e r e s t s e m i- a n n u a lly a t
t u r lt y S e p t . 1 1 9 1 5 , s u b j e c t t o c a ll a f t e r S e p t . 1 1 9 1 0
th e F arm ers’ B an k of D o v er.
M a tu r it y O c t. 1 1 9 5 9 , s u b j e c t to c a ll a f t e r
6 .0 0 0 4% H a y e s A v e . a s s e s s m e n t b o n d s .
M a tu r it y S e p t . 1 1 9 2 1 , s u b j e c t
2 0 y e a r s . C e r tifle d c h e c k fo r 2% o f b o n d s b id fo r , p a y a b lo to t h e T o w n
to c a ll a f t e r S e p t . 1 1 9 1 0 .
, „
IO
. .
T r e a s u r e r . Is r e q u ir e d .
B o n d s w ill b e c e r tifle d a s to g e n u in e n e s s b y t h e
D a t e n o t la te r t h a n D e c . 1 1 9 0 9 .
I n t e r e s t M a r ch 1 a n d S e p t . 1 .
d t h e l e g a l i t y o f t h e Issu e w ill b e
Colusa, Colusa County, Cal.— B o n d O f f e r i n g . — Proposals Ce xoalumminbeiad Tbryu sSt t oCroe.y ,o f TNh oe wr n dYikoer,k Paanlm
er & T h a y er o f B o sto n , w h o se
will be received until 8 p. m. Oct. 11 by A. B. Jackson, Town o p in io n w ill b e f u r n is h e d to b u y e r . B o n d s w ill b e d e liv e r e d to p u r c h a s e r
Clerk, for the following 5% gold coupon bonds voted (V. 89, aOtc t.F a9r .m e rAsc’ cBr ua endk IInn teDr eo svte rtoo rb ea tp at hide bCyo lus umc cbeias s fTurl ubs tidCd eo r. . In N e w Y o r k o n

p. 678) on Aug. 31:

$ 5 0 ,0 0 0 w a t e r -w o r k s -c o n s t r u c t io n b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 .
M a tu r ­
i t y , $ 2 ,0 0 0 y e a r ly o n D e c . 1 fr o m 1 9 1 4 to 1 9 3 8 , I n c lu s iv e .
5 0 .0 0 0 s e w e r -s y s t e m b o n d s .
D e n o m in a tio n : 4 0 b o n d s o f $ 1 ,0 0 0 e a c h a n d
4 0 b o n d s o f $ 2 5 0 e a c h . M a tu r it y $ 1 ,2 5 0 y e a r ly o n D e o . 1 fr o m
1 9 1 0 t o 1 9 4 9 , I n c lu s iv e .
I n t e r e s t o n J u n e 1 a n d D e c . 1 a t t h e T o w n T r e a s u r e r ’s o f fic e . C e r tifie d
c h e c k fo r 5% o b i d , p a y a b le t o t h e T o w n T r e a s u r e r , Is r e q u ir e d .




Easthampton, Hampshire County, Mass.— D e s c r i p t i o n o f
are advised that the award of the $38,000 4%
water notes to Merrill, Oldham & Co. of Boston (V. 89,
p. 738) took place on Sept. 9. The price paid was 101.
N o t e s . — We

Date Oct. 1 1909. Interest semi-annual. M aturity $5,000 on Oct. 1
1910 and $3,000 yearly on Oct. 1 from 1911 to 1921 inclusive.

East Palestine, Columbiana County, Ohio.— B o n d O f f e r i n g .
— Proposals will be received until 12 m. Oct. 4 by O. L.
Butts, Village Clerk, for the following 5% assessment bonds:
$ 3 ,1 5 0 M a r k e t S t r e e t p a v in g b o n d s .
D e n o m in a tio n $ 3 1 5 .
3 ,5 5 0 T a g g a r t S t r e e t p a v in g b o n d s .
D e n o m in a tio n $ 3 5 5 .
1 ,2 0 0 T a g g a r t S t r e e t a n d M a r k e t S t r e e t im p r o v e m e n t b o n d s .
D e n o m in a ­
t io n $ 1 2 0 .
D a te S e p t. 1 1909.
M a tu r it y o n e b o n d o f e a c h is s u e y e a r ly b e g in n in g
M arch 1 1 9 1 0 .
I n t e r e s t a n n u a l. C e r tlile d c h e c k fo r 5% o f b o n d s b id fo r ,
p a y a b le t o V illa g e T r e a s u r e r , is r e q u ir e d .
P u r c h a s e r t o p a y a c c r u e d in ­
ter e st.

Edgar, Clay County, Neb.— B o n d S a l e . —The $5,000 5-20year (optional) electric-light bonds voted on Aug. 5 (V. 89,
p. 426) have been sold to the State of Nebraska:
El Dorado Independent School District (P. O. El Dorado),
Schleicher County, Tex.— B o n d s R e g i s t e r e d . — On Sept. 20
the State Comptroller registered $20,000 5% 5-40-year
(optional) bonds of this district.
Elmwood Place, Hamilton County, Ohio.— B o n d O f f e r i n g .
— Proposals will be received until 12 m. Oct. 6 by J. J.
McQueen, Village Clerk, for $5,000 4% refunding bonds.
A u t h o r it y S e c tio n 2 7 0 1 , R e v is e d S t a t u t e s .
D e n o m in a t io n $ 5 0 0 .
D a te
J u ly 8 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
M a tu r ity 3 0 y e a r s .
C e r tifie d c h e c k
fo r 1 0 % o f b o n d s b id fo r , p a y a b le to th e V illa g e T r e a s u r e r , is r e q u ir e d .
P u r c h a s e r to p a y a c c r u e d I n te r e s t.

tional Bank and Fourth National Bank of Atlanta and the
American National Bank of Macon, all State depositories, to
borrow $100,000 for three months at 2 %. The money is to
be used to pay the school teachers.
Glendale, Los Angeles County, Cal.— B o n d S a l e . — On
Sept. 2 2 $40,000 5% 1-40-year (serial) electric-light bonds
were awarded to W. II. Holliday of Los Angeles at 103.635 and
accrued interest. The following bids were also received:
L . C . B r a n d . -------------------------$ 4 1 , 3 5 7 |C . E . W o o d s ld e & C o ..................$ 4 1 ,1 7 2
D e n o m in a tio n $ 1 ,0 0 0 .
D a te J u ly 1 1 909.
I n t e r e s t s e m i-a n n u a l.

Glendale Union High School District (P. O. Glendale),
Los Angeles County, Cal.— B o n d s D e f e a t e d . — We are advised
that the proposition to issue the $15,000 bonds mentioned in
V. 89, p. 550, was defeated at the election held Sept. 13.
, Goliad County (P. O. Goliad), Tex.—Bond S a l e . — The
$40,000 4% refunding court-house bonds mentioned in V
89, p. 487, have been taken in exchange by the holders of
the old bonds. The State of Texas holds $28,000 of the
bonds and the Goliad County Permanent School Fund $ 1 2 ,-

Grand Forks, Grand Forks County, No. Dak.— W a r r a n t
Proposals will be received until 5 p. m. Oct. 4 by
Elyria, Lorain County, Ohio.— B o n d S a l e . — On Sept. 27 W. H. Alexander, City Auditor, for $100,000 (“more or
the two issues of 5% coupon paving assessment bonds aggre­ less”) 0 % coupon paving assessment warrants.
gating $91,325, described in V. 89, p. 790, were awarded to
A u th o r ity S e c t io n 1 3 6 , C ity C h a r te r .
D e n o m in a t io n $ 1 ,0 0 0 .
D a te
,9 ’ I n t e r e s t D e c . 1 a t t h e C it y T r e a s u r e r ’s o f fic e .
M a tu r ity
the First National Bank of Cleveland at 104.243 and accrued N$ 5?,0v 0. 0 1 y el9a 0r ly
o n D e c . 10 fro m 1 9 1 0 t o 1 9 2 9 i n c lu s iv e .
B o n d s a r c fr e e fro m
interest. Following is a list of the bidders and the premiums a ll t a x e s . B id s m u s t b e a c c o m p a n ie d b y a c e r tifie d c h e c k , m a d e p a y a b le t o
J I). T a y lo r , M a y o r , fo r 5% o f b id ; s u c h c h e c k , h o w e v e r , n e e d n o t e x c e e d
ofFered by the same:
O fferin g .

F ir s t N a t . B a n k , C le v e la n d . . $ 3 , 8 7 5 1O tis & H o u g h , C le v e la n d .
$ 2 ,8 8 8
W e ll, R o t h * C o ., C in c in n a t i. 3 ,5 3 0 J . C. H ill, E ly r ia
.
a l ,1 7 5
H a y d e n , M iller & C o ., C l o v e .. 3 , 0 8 0 |A . B . T a y lo r
" " t i l , 108
a F o r t h e $1(5,000 b o n d s , b F o r t h e $ 1 5 ,3 2 5 b o n d s .
M a tu r ity p a r t o f e a c h is s u e y e a r ly o n S e p t . I fr o m 1 9 1 0 to 1 9 1 9 , in c lu s iv e .

Grand Rapids, Kent County, Mich.— B o n d s N o t S o l d . — No
bids were received on Sept. 20 for the two issues of 4 %
1-5-year (serial) coupon bonds, aggregating $165,000, de­
B o n d s N o t S o l d . — N o sale was made of the $10,000 water scribed in Y. 89, p. 739.
Grand Rapids, Wood County, W is.— B o n d O f f e r i n g . — Pro­
and the $10,000 paving 4% coupon bonds also offered on
Sept. 27.
posals will be received until 12 m. Oct. 14 by the Board of
Fallon, Churchill County, Nev.— B o n d s N o t S o l d . — An Public Works, Frank Pomainville, Chairman, for the follow­
issue of $35,000 5% gold coupon water-works bonds was ing 4% coupon bonds mentioned in V. 89, p. 487:
$ 2 0 ,0 0 0 w a t e r -w o r k s -im p r o v e m e n t a n d e x t e n s i o n b o n d s .
D e n o m in a tio n
offered without success on Sept. 15. V. 8 8 , p. 1512.
$ 1 ,0 0 0 e x c e p t o n e b o n d o f $ 1 1 , 0 0 0 . M a tu r it y $ 1 ,0 0 0 y e a r ly o n
M a rch 15 fr o m 1 9 2 0 t o 1 9 2 8 in c lu s iv e a n d $ 1 1 ,0 0 0 M a rch 15 1 9 2 9 .
Fisher County Common School Districts, Tex.— B o n d s
3 0 .0 0 0 f u n d in g b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 e x c e p t o n e b o n d o f $ 2 1 ,0 0 0 .
R e g i s t e r e d . —The following 5% bonds were registered by
M a tu r it y $ 1 ,0 0 0 y e a r ly o n M a rch 15 fr o m 1 9 2 0 t o 1 9 2 8 I n c lu siv e
a n d $ 2 1 ,0 0 0 M arch 15 1 9 2 9 .
the State Comptroller on Sept. 17:
$ 3 ,9 0 0
1 .0 0 0
1 ,1 0 0
1 ,5 0 0
1 .0 0 0
800
800
600

1 0 -2 0 -y c a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 2 4 .
10 -2 0 - y c a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 2 9 .
1 0 -2 0 -y e a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 4 1 .
1 0 -2 0 -y c a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 4 3 .
1 0 - 4 0 -y e a r (o p tio n a l) b o n d s o f D is tr ic t N o . 4 .
1 0 - 2 0 - y e a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 17.
1 0 -2 0 -y c a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 2 2 .
1 0 -2 0 -y c a r ( o p tio n a l) b o n d s o f D is tr ic t N o . 1 5 .

Flathead County School District No. 20, Mont.— B o n d
wiil be received until Oct. 23 by Sher­
man Robinson, Clerk of Trustees (P. O. Kalispcll) for$l,200
bonds. These securities were offered without success on
Sept. 18.
Floyd County (P. O. New Albany), Ind .— B o n d s A u t h o r i z e d . —The County Commissioners have been authorized,
it is stated, to issue $210,000 4% funding bonds.
Fort Wayne School City (P. O. Fort Wayne), Allen
County, Ind.— B o n d S a l e . —According to reports, the $225,­
000 4% coupon school-improvement bonds described in
V. 89, p. 738, were sold on Sept. 30 to Breed & Harrison of
Cincinnati and the Fletcher National Bank of Indianapolis
for $225,150 50 the price thus being 100.009. Maturity on
Oct. 1 as follows: $15,000 yearly from 1914 to 1918 inclu­
sive and $30,000 yearly from 1919 to 1923 inclusive.
Framingham, Middlesex County, Mass.— B o n d S a l e . — On
Sept. 30 the $40,000 3^ % coupon water-loan bonds de­
scribed in V. 89, p. 790, were purchased by E. M. Farns­
worth & Co. of Boston at 100.47. Maturity on Oct. 1 as
follows: $1,000 yearly from 1914 to 1925 inclusive and
$2,000 yearly from 1920 to 1939 inclusive.
Frederick, Brown County, So. Dak.— B o n d s N o t S o l d . —
All bids received on Sept. 17 for the $3,500 5% coupon fireprotection bonds described in V. 89, p. 738, were rejected.
The bonds will be re-advertised.
Fulton, Oswogo County, N. Y .— B o n d s N o t S o l d . — No bids
were received on Sept. 2 1 for the $20,000 4% registered
sewer-system bonds a description of which was given in
V. 89, p. 739.
Fulton County (P. O. Johnstown), N. Y .— B o n d O f f e r i n g
— Proposals will be received until 2 p. m. Oct. 11 by Charles
II. lleimensnyder, Clerk Board of County Supervisors, for
$70,000 4% coupon funding highway-improvement bonds.
O f f e r i n g . —Proposals

rw
i iS o,m l0 I\ S C h a l,tc r C,8 C ’ L a w s o f 1 8 9 2 - D e n o m in a tio n $ 1 ,0 0 0 .
D a t e O c t. 1 1 0 0 9 .
I n t e r e s t s e m i- a n n u a lly a t t h e P e o p le ’s B a n k in J o h n s ­
to w n .
M a tu r it y $ 1 0 ,0 0 0 y e a r ly o n F e b . 10 fro m 1 9 2 0 to 192 0 I n c lu siv e .
T h e s e b o n d s w e r e offered w i t h o u t s u c c e s s o n Aug*. 10.

Gardner, Worcester County, Mass.— B o n d O f f e r i n g . — Pro­
posals will be received until 0 p. m. Oct. 5 by John D. Edgcll, Town Treasurer, for $45,000 4% coupon water bonds.

1 5 .0 0 0 g e n e r a l s tr e e t - im p r o v e m e n t b o n d s .
D e n o m in a tio n $ 1 ,0 0 0 , e x c e p t
o n e b o n d o f $ 6 ,0 0 0 .
M a tu r it y $ 1 ,0 0 0 y e a r ly o n M arch 15 f r o m
1 9 2 0 to 1 9 2 8 I n c lu siv e a n d $ 6 ,0 0 0 M a rch 15 1 9 2 9 .
A u th o r ity S e c tio n 9 2 5 - 1 3 3 , W is c o n s in S t a t u t e s .
D a te , S e p t. 15 1 9 0 9 .
I n t e r e s t s e m i-a n n u a lly a t t h e C it y T r e a s u r e r ’s O ffic e a n d a t t n e o p t io n o f
t h e h o ld e r , In e x c h a n g e o n C h ic a g o , M ilw a u k e e o r N e w Y o r k . C e r tifie d
c h e c k fo r 1 % o f b o n d s b id fo r is r e q u ir e d .
O ffic ia l a d v e r t is e m e n t s t a t e s
t h a t th e c i t y h a s n e v e r d e f a u lt e d In t h e p a y m e n t o f a n y o f its o b lig a t io n s
a n d t h a t th e r e is n o c o n t r o v e r s y o r l it ig a t io n p e n d in g o r t h r e a t e n e d a U e c t in g
th e v a l id i t y o f t h e s e b o n d s , t h e c o r p o r a te e x is t e n c e o r t h e b o u n d a r ie s o f
s a id m u n i c i p a l it y , o r t h e t it le o f Its p r e s e n t o f fic ia ls t o t h e ir r e s p e c t iv e o f f ic e s .

Grayson County Common School District, Tex.— B o n d s
Sept. 16 an issue of $1,500 5% 5-15-year (op­
tional) bonds was registered by the State Comptroller.
j
Grayson County Common School District No. 96, Tex.—
B o n d S a l e . —The $6,000 5% 20-40-year (optional) bonds
registered by the State Comptroller last month (V. 89, p.
487) were sold on Aug. 1 0 to the Permanent School Fund of
Grayson County at 100.05.
Greentree (Borough), Allegheny County, Pa.— B o n d O f ­
f e r i n g . — Proposals will be received until 8 p. m. Oct. 5 by
Geo. Tranter, Clerk of Council (P. O. II. F. D. No. 1, Car­
negie), for $12,000 5% coupon bonds.
R e g i s t e r e d . — On

D e n o m in a tio n $ 1 ,0 0 0 .
D a t e O c t. 1 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
M a­
t u r it y $ 4 ,0 0 0 o n O c t. 1 in e a c h o f t h e y e a r s 1 9 1 9 , 1 9 2 5 a n d 1 9 2 9 .
Bonds
a r e e x e m p t fr o m S t a t e t a x .
C e r tlile d c h e c k fo r $ 2 5 0 is r e q u ir e d .

Hamilton, Butler County, Ohio.— B o n d O f f e r i n g s . — Propos­
als will be received until 1 2 m. Oct. 4 by II. A. Grimmer,
City Auditor, for the following 4% bonds:
$ 1 5 ,0 0 0 v ia d u c t im p r o v e m e n t b o n d s . " D e n o m in a tio n $ 5 0 0 . D a t e A u g . 1
1 9 0 9 . M a tu r it y $ 7 ,5 0 0 o n A u g . 1 191 4 a n d $ 7 ,5 0 0 o n A u g . 1 1 9 1 9 .
7 ,3 0 0 s to r m s e w e r b o n d s .
D e n o m in a tio n $ 5 0 0 , e x c e p t o n e b o n d o f $ 3 0 0 .
D a t e J u ly 1 1 9 0 9 .
M a tu r ity J u ly 1 1 9 2 4 .
C e r tifie d c h e c k fo r 5% o f b id , p a y a b le t o t h e C ity T r e a s u r e r , Is r tq u lr e d .

Proposals will also be received until 1 2 m. Oct. 19 by
II. A. Grunmer, City Auditor, for the following 4 )^% im­
provement bonds: $11,843 80 for the improvement of
Market St., $12,538 10 for the improvement of Wood St. and
$1,711 20 for the improvement of Court St. Alley.
D a te A u g . 1 1 9 0 9 .
I n t e r e s t s e m i-a n n u a l.
M a tu r ity o n e - t e n t h y e a r ly
fro m 19 1 0 to 1 9 1 9 in c lu s iv e .
C e r tifie d c h e c k fo r 5% o f a m o u n t b id , p a y ­
a b le to t h e T r e a s u r e r , Is r e q u ir e d .

Hancock County (P. O. Findlay), Ohio.— B o n d S a l e . — The
$18,000 5% coupon Price Stone lload improvement bonds
described in V. 89, p. 739, were sold on Sept. 20 to A. L.
Swinhart of Findlay, at 104.505.
A list of the bidders fol­
lows:
A . L . S w in h a r t , F l n d l a y - . $ 1 8 ,8 1 1 0 0 W e il, R o t h & C o ., C i n . . . $ 1 8 , 6 3 8 0 0
A m c r . N a t . B k ., F i n d l a y . 1 8 ,8 0 1 0 0 B r e e d & H a r r is o n , C in ___ 1 8 ,6 3 0 00
F ir s t N a t . B a n k , C le v e la n d 1 8 ,7 1 9 00 S e a s o n g o o d & M a y e r , C in . 1 8 ,6 1 0 20
D a v ie s & B e r tr a m C o .,C in . 1 8 ,7 0 1 0 0 O tis & H o u g h , C le v e la n d . 1 8 ,6 0 7 00
B a r t o ,S c o t t & C o ., C o lu m . 1 8 ,6 8 7 60 R . K le y b o lt e C o . I n c .,C in . 1 8 ,5 6 7 00
C. E . D e n is o n & C o .,C le v e 1 8 ,6 7 8 75 F ir s t N a t . B a n k , C o l u m .. 1 8 ,5 1 5 7 5
O h io S . B . & T r . C o ., T o l . 1 8 ,6 7 5 12 D a y t o n S a v .& T r .C o .,D a y . 1 8 ,4 1 5 00
I’r o v . S . B . & T r . C o .,C in . 1 8 ,6 6 9 60 C itiz e n s S a fe D e p o s it &
H a y d e n ,M llle r & C o .,C le v e . 1 8 ,6 6 3 00
T r u s t C o ., T o le d o _____ 1 8 ,3 9 8 00
M a tu r it y o n O c t. 1 a s fo llo w s : $ 2 ,0 0 0 y e a r ly fr o m 1 9 1 0 to m 5 I n c lu siv e
a n d $ 1 ,5 0 0 y e a r ly fr o m 1 9 1 6 t o 1 9 1 9 I n c lu siv e .

Harrisburg School District (P. O. Harrisburg) Dauphin
County, Pa .— B o n d S a l e . — On Sept. 30 the $56,000 4%
Garfield County (P. O. Burwell), Neb.— B o n d S a l e . — 'This coupon school building bonds described in V. 89, p. 796,
county has sold $ 1 0 , 0 0 0 4^ % 1 0 - 2 0 -year (optional) funding were awarded to the First Rational Bank of Harrisburg at
bonds dated Sept. 1 1909 to the State of Nebraska at par. 100.58 and accrued interest. The following bids were re­
ceived:
Denomination $1,000.
E d w . V . K a n e & C o ., P h i l a . . l 0 0 .4 5 I E d w . L . S t o k e s ____________ ______ 100
Georgia.— T e m p o r a r y Loan.— Arrangements have been A . B . R e a c h & C o ., P h l la ____ 100 .3 9 9 ]
r ity o n O c t. 1 a s fo llo w s : $ 6 ,0 0 0 in 19 1 4 a n d $ 2 ,0 0 0 y e a r ly f r o m
made with the Atlanta National Bank, the American Na­ 1 9 1M5 a tu
to 19 3 9 I n c lu siv e .



Harris County (P. O. Houston), Tex.— B o n d O f f e r i n g . —
Proposals will be received up to Oct. 11, according to local
papers, for the $500,000
road and bridge bonds voted
(V. 89, p. 487) on Aug. 3. Maturity 40 years, subject to call
after 1 0 years.
Harris County Common School District No. 7, Tex.—
B o n d s R e g i s t e r e d .—The State Comptroller on Sept. 8 regis­
tered $ 1 , 0 0 0 5 % 1 0 -2 0 -year (optional) bonds of this district.
Harris County Common School District No. 13, Tex.—
B o n d s R e g i s t e r e d . —An issue of $ 2 , 0 0 0 5% 10-20-year (op­
tional) bonds was registered by the State Comptroller on
Sept. 8 .
Harris County Common School District No. 21, Tex.—
B o n d s R e g i s t e r e d . —On Sept. 8 the State Comptroller regis­
tered $10,000 5% 10-40-year (optional) bonds.
Harris County Common School District No. 44, Tex.—
B o n d s R e g i s t e r e d . —Bonds to the amount of $2,000 were
registered by the State Comptroller on Sept. 8 . They carry
5 % interest and mature in twenty years.
Harris County Common School District No. 45, Tex.—
B o n d s R e g i s t e r e d . —On Sept. 8 $2,500 5% bonds were regis­
tered by the State Comptroller. Maturity 20 years, subject
to call after 1 0 years.
Harrison Township, Allegheny County, Pa.— B o n d O f f e r ­
i n g . — Proposals will be received until 12 m. Oct. 4 by W. 13.
Wiant, Township Clerk (P. O. Natrona), for $20,000 5%
coupon improvement bonds.
Harrington, Cedar County, Neb.— B o n d s V o t e d . — it is
reported that a proposition to issue $ 1 0 , 0 0 0 sewer bonds was
favorably voted upon Aug. 24.
Haskell Independent School District (P. O. Haskell),
Haskell County, Tex.— B o n d s R e g i s t e r e d . — We learn that the
State Comptroller registered $10,000 5% 10-40-year (op­
tional) bonds on Sept. 2 0 .
Hennessey, Kingfisher County, Okla.— B o n d s V o t e d — A
recent election re suited, it is stated, in favor of issuing $5,000
funding bonds, $7,000 water-works-extension bonds and $12,­
0 0 0 city-hall bonds.
Indiana.— B o n d S a l e s . —The bonds described below were
purchased recently by Miller, Adams & Co. of Indianapolis:
B la c k fo r d C o u n ty — $ 4 ,5 0 0 4 <A% g r a v e l- r o a d b o n d s , d a t e d M a y 3 1 0 0 0 .
D e n o m in a tio n $ 2 2 5 .
M a tu r it y $ 2 2 5 e a c h s ix m o n th s b e g in n in g M a y 15
1 9 1 0 . P r ic e p a id , p ar a n d a c c r u e d I n te r e s t.
t
,
C la y C i t y . C la y C o u n ty — $ 1 0 ,0 0 0 4 <A% 3 - 1 8 -y c a r (se r ia l) t a x - e x e m p t s c h o o l
b o n d s, d a te d S e p t. 1 1 9 0 9 .
D e n o m in a tio n $ 5 0 0 .
P r ic e p a id , p a r a n d
In terest.
,
,
C lin to n , V e r m ilio n C o u n ty — $ 5 ,0 0 0 5% 1 -1 0 -y c a r (seria l) t a x - e x e m p t s c h o o l
b o n d s, d a te d S e p t. 1 1 0 0 9 .
D e n o m in a tio n $ 5 0 0 .
P r ic e p a id , 1 0 1 .5 0 —
b a s is o f 4 .0 9 % .
D u d le y T o w n s h ip , H e n r y C o u n ty — $ 1 4 ,0 0 0 4 H % 1 -1 5 -y e a r (se r ia l) t a x e x e m p t sc h o o l b o n d s, d a te d A u g . 1 1 9 0 9 .
D e n o m in a tio n $ 5 0 0 .
P r ice
p a id , p a r a n d I n te r e s t.
,
D u g g e r , S u lliv a n C o u n ty — $ 3 ,4 0 0 5% 1 -7 -y e a r (seria l) t a x - x e m p t s c h o o l
b o n d s , d a t e d J u ly 15 1 9 0 9 .
D e n o m in a tio n $ 5 0 0 , e x c e p t o n e b o n d o f
$400.
P r ic e p a id , 1 0 1 .9 0 — b a s is o f 4 .4 7 % .
F a r m la n d ( T o w n ) , R a n d o lp h C o u n ty — $ 1 0 ,0 0 0 4 A % 1 - 1 0 -y e a r (se r ia l)
ta x -e x e m p t sc h o o l b o n d s, d a te d J u n e 30 1 9 0 9 .
D e n o m in a tio n $ 5 0 0 .
P r ice p a id , 1 0 1 .4 0 — b a s is o f 4 .2 0 % .
_______, _
,
G u ilfo r d ( T o w n s h ip ) , H e n d r ic k s C o u n ty — $ 1 0 ,0 0 0 4 % 1 - 1 0 -y c a r (seria l)
t a x - e x e m p t s c h o o l b o n d s , d a t e d S e p t . 18 1 9 0 9 .
D e n o m in a tio n $ 5 0 0 .
P r ic e p a id , 1 0 0 .4 5 — b a s is o f 3 .9 2 % .
„
J a y C o u n ty — $ 6 ,5 0 0 4 >4% g r a v e l-r o a d b o n d s , d a t e d M a y 15 1 9 0 9 .
D e­
n o m in a tio n $ 3 2 5 .
M a tu r ity $ 3 2 5 e a c h s ix m o n th s b e g in n in g M a y 15
1910.
P r ic e p a id , p a r a n d a c c r u e d I n te r e s t.
,
,
$ 1 2 ,5 0 0 4 'A % g r a v e l-r o a d b o n d s , d a t e d A u g . 16 1 9 0 9 .
D e n o m in a tio n
$025.
M a tu r ity $ 6 2 5 e a c h s ix m o n th s b e g in n in g M a y 15 1 9 1 0 .
P r ic e
p a id , p a r a n d a c c r u e d I n te r e s t.
L a k e C o u n ty — $ 3 ,2 0 0 5% g r a v e l-r o a d b o n d s , d a t e d M a y 14 1 9 0 9 .
D e­
n o m in a tio n $ 1 0 0 . M a tu r ity 5 1 0 0 e a c h s ix m o n th s b e g in n in g M a y 15
1910.
P r ic e p a id , p a r a n d a c c r u e d in te r e s t.
L e w is v ille , H e n r y C o u n ty — $ 4 ,6 0 0 4 'A % 5 - 1 9 -y e a r (se r ia l) t a x - e x e m p t
w a t e r -w o r k s b o n d s , d a t e d J u n e 1 1 9 0 9 .
D e n o m in a tio n $ 3 0 0 , e x c e p t o n e
b o n d fo r $ 4 0 0 .
P rice p a id , 1 0 1 .3 0 — b a s is o f 4 .3 5 % .
M o n r o e C o u n ty — $ 5 ,0 0 0 6 % g r a v e l-r o a d b o n d s , d a t e d J u ly 1 1 9 0 9 .
D e­
n o m in a tio n $ 2 5 0 . M a tu r ity $ 2 5 0 e a c h s ix m o n th s b e g in n in g M a y 15
1910.
P r ic e p a id , p a r a n d a c c r u e d I n t e r e s t .
P a r k e C o u n ty — $ 4 ,0 2 5 4
g r a v e l-r o a d b o n d s d a t e d M a rch 5 1 9 0 9 .
D e n o m in a tio n $231 2 5 .
M a tu r ity $2 3 1 2 5 e a c h s ix m o n th s b e g in n in g
M ay 15 1 9 1 0 .
P rice p a id , p a r a n d a c c r u e d I n te r e s t.
S u lliv a n C o u n ty — $ 1 7 ,9 6 0 4 A % g r a v e l-r o a d b o n d s , d a t e d M a rch 16 1 9 0 9 .
D e n o m in a tio n $ 4 1 9 .
M a tu r ity $ 4 4 9 e a c h s ix m o n th s b e g in n in g M a y 15
1910.
P r ic e p a id , p a r a n d I n t e r e s t .
V ig o C o u n tv
*18,4.00 -i •' „ g r a v e l-r o a d b o n d s , d a t e d S e p t . 15 1 9 0 9 .
D e­
n o m in a tio n $ 0 6 0 . M a tu r ity $ 6 0 0 e a c h s ix m o n th s b e g in n in g M ay 15
1910.
P r ic e p a id , p a r a n d I n t e r e s t .
W a r r e n C o u n ty — $ 5 ,0 8 4 2 0 6 % g r a v e l-r o a d b o n d s , d a t e d A p ril 5 1 9 0 9 .
D e n o m in a tio n $25 4 2 1 .
M a tu r ity $ 2 5 4 21 e a c h s ix m o n th s b e g in n in g
M a y 15 1 9 1 0 .
P r ic e p a id , 1 0 4 .3 4 a n d I n te r e s t— b a s is o f 5 .0 8 % .
$ 4 ,0 0 0 0% g r a v e l-r o a d b o n d s , d a t e d A p r i l s 1 9 0 9 . D e n o m in a tio n $ 2 0 0 .
M a tu r it y $ 2 0 0 e a c h s ix m o n t h s b e g in n in g iMay 15 1 9 1 0 .
P rice p a id ,
1 0 4 .3 4 a n d in te r e s t— b a s is o f 5 .0 8 % .

Jacksboro, Jack County, Tox.— B o n d s V o t e d . —An election
held Sept. 15 resulted in favor of a proposition to issue
$275,000 5% 10-40-year (optional) water-works bonds. The
vote was 8 6 “for” to 2 0 “against.”
Jay County (P. O. Portland), Ind.— B o n d S a l e . — We are
advised that the amount of William E. Richey gravel-road
bonds of Penn Township awarded on Sept. 15 to Miller,
Adams & Co. of Indianapolis was $7,600 and not $7,500,
as reported in V. 89, p. 796. The price paid was par and
accrued interest.
T h e b o n d s c a r r y 4 H % I n t e r e s t , p a y a b le M a y 15 a n d N o v . 1 5 .
D e n o m i­
n a t io n $ 3 8 0 .
D a t e J u ly 15 1 9 0 9 . M a tu r it y 3 8 0 e a c h s ix m o n th s fr o m M a y
15 191 0 to N o v . 15 1 9 1 9 i n c lu s iv e .

by the State Comptroller on July 28 (V. 89, p. 364) were
awarded to the Commissioners Court of Jones County at par.
D e n o m in a t io n $ 1 0 0 .
D a te J u ly 1 1 9 0 9 .
I n t e r e s t o n A p ril 1 0 .
t u r it y 4 0 y e a r s , s u b j e c t t o c a ll a f t e r 10 y e a r s .

M a­

Jones County (Tex.) Common School Districts.— B o n d s
State Comptroller on Sept. 21 registered
the following 5% 5-20-year (optional) bonds:

R e g i s t e r e d .—The
$ 1 ,0 0 0
1 ,0 0 0
1 ,5 0 0
1 ,2 0 0

School
School
S chool
School

D is tr ic t
D is tr ic t
D is tr ic t
D is tr ic t

N o.
N o.
N o.
N o.

43
35
32
29

b o n d s . $ 1 ,0 0 0 S o h o o l D is tr ic t N o . 5 5 b o n d s .
1 ,7 0 0 S c h o o l D is tr ic t N o . 18 b o n d s .
b o n d s.
1 ,0 0 0 S c h o o l D is tr ic t N o . 13 b o n d s .
b o n d s.
1 ,5 0 0 S c h o o l D i s t r i c t N o . 1 b o n d s .
b o n d s.

Kansas City, Wyandotte County, Kan.— P u r c h a s e r s o f
City Clerk informs us that the purchasers of
the $400,000 4
30-year water-works-extension bonds dis­
posed of on Sept. 21 at 103.875 and accrued interest (V. 89,
p. 796) were the Trowbridge & Niver Co. and the Thos. J.
Bolger Co., both of Chicago.’ Following is a list of the
bidders:

B o n d s .—The

T r o w b r id g e A N lv erC o .,1
T h o s . J . I lo lg e r C o ___J C h L $ 4 1 5 ,5 0 0
S p lt z e r A C o ., T o l e d o . . ------ 4 1 5 ,3 0 0
C o m m e r c e T r u s t C o ________ 4 1 4 ,9 0 0

W e il, R o t h & C o ., C ln c in . .$ 4 0 9 ,5 0 0
J o h n N u v o e n & C o ., C h i___ 4 0 8 ,0 0 0
N . W . H a ls c v A C o ., C h i___ 4 0 6 ,0 0 0
W o o d ln .M c N e a r A M o o r e .O h l 4 0 0 ,5 0 0

B o n d E l e c t i o n . — Local papers state that the City Council
has passed an ordinance providing for an election to vote
on the issuance of bonds as follows: $2 0 0 , 0 0 0 for a new
city-hall, $30,000 for a workhouse and $60,000 for three new
fire stations.
Kansas City, Mo.— B o n d S a l e . — On Sept. 20 an issue of
$26,556 64 7% park bonds was awarded to the Fidelity
Trust Co. of Kansas City at par and accrued interest.
D e n o m in a tio n $ 1 ,0 0 0 .
D a t e A p r il 3 1 9 0 9 .
I n t e r e s t In J a n u a r y a n d
J u ly .
.M a tu rity 2 0 y e a r s , s u b j e c t to c a ll a t a n y t im e .

Kaw Township, Wabaunsee County, Kan.— B o n d s D e ­
township recently voted down a proposition
to issue $ 6 , 0 0 0 bonds.
Kelso, Cowlitz County, W ash.— B o n d O f f e r i n g . — Pro­
posals will be received until 8 p. in. Oct. 5 by the City Treas­
urer for $25,000 5% gold registered city-hall and park bonds.

f e a t e d . —This

D e n o m in a tio n $ 5 0 0 .
D a t e O c t . 10 1 9 0 9 .
I n t e r e s t s e m i-a n n u a lly in
K e ls o .
.M a tu r ity $ 1 2 ,5 0 0 In 19 1 9 a n d $ 1 2 ,5 0 0 in 1 9 2 9 .
B on ds are e x em p t
fro m t a x e s . C e r tllle d c h e c k fo r 2% o f b id , p a y a b le to t h e C ity T r e a s u r e r ,
Is r e q u ir e d . A s s e s s e d v a l u a t io n $ 5 4 7 ,3 9 3 .

La Grange, Fayette County, Tex.— B o n d s R e g i s t e r e d —
On Sept. 3 the State Comptroller registered an issue of
$17,500 5% 10-40-year (optional) school-building bonds.
Leavenworth, Kan.— B o n d S a l e . — On Sept. 21 $4,565 07
5% street-improvement bonds were sold to Mr. Rice at 101
and accrued interest.
D e n o m in a tio n $ 5 0 0 , e x c e p t o n e b o n d o f $ 6 5 0 7 .
D a te A u g . 1 1909.
I n t e r e s t s e m i-a n n u a l.
M a tu r it y p a r t y e a r ly fr o m o n e t o t e n y e a r s I n c lu s i v e .

Lewisville Independent School District (P. O. Lewisville),
Denton County, Tex.— B o n d S a l e . —The $7,000 5% 5-30-yeai
(optional) school-house bonds, bids for which were reejeted
on Sept. 4 (V. 89, p. 797) were awarded on Sept. 24 to the
First National Bank of Lewisville at par and accrued interest.
Licking County (P. O. Newark), Ohio.— B o n d O f f e r i n g .—
Proposals will be received until 12 m. Oct. 6 by J. N. Wright.
County Auditor, for $36,000 4 J^% coupon bridge building
and repairing bonds.
A u t h o r it y , S e c tio n 8 7 1 , R e v is e d S t a t u t e s .
D e n o m in a tio n $ 5 0 0 .
D a te
S e p t. 1 1909.
I n t e r e s t s e m i-a n n u a lly a t t h e C o u n ty A u d it o r ’s O ffic e .
M a tu r it y $ 1 2 ,0 0 0 o n S e p t . 1 In e a c h o f th e y e a r s 1 9 1 2 , 1913 a n d 1 9 1 4 .
C e r tifie d c h e c k fo r 10% o f b o n d s b id fo r , p a y a b le t o t h e B o a r d o f C o m m is ­
s io n e r s , is r e q u ir e d .
B on d s are ta x -e x e m p t.

Logan County (P. O. Beliefontaine), Ohio.— B o n d O f f e r ­
will be received until l p. m. Oct. 5 by
W. S. Jones, County Auditor, for $35,000 4% ditch bonds.

i n g . — Proposals

D e n o m in a tio n $ 5 0 0 .
D a te O ct. 5 1009.
I n t e r e s t o n J a n . 1 a n d J u ly 1
a t t h e C o u n ty T r e a s u r e r ’s o f f ic e .
M a tu r ity $ 3 ,5 0 0 e a c h s ix m o n th s from
J u ly 1 1 9 1 0 t o J a n . 1 19 1 5 I n c lu s iv e .
A d e p o s it o f $ 2 6 0 In c a s h m u s t b e
m a d e w it h th e T r e a s u r e r .
O ffic ia l a d v e r t is e m e n t s t a t e s t h a t t h e c o u n t y
h a s n e v e r d e f a u lt e d In p a y m e n t o f p r in c ip a l o r I n te r e s t.

London, Madison County, Ohio.— B o n d S a l e . — On Sept. 24
the $7,000 4% coupon sewer bonds described in V . 89, p. 797,
were awarded to the London Exchange Bank in London for
$7,026 (100.371) and accrued interest. Maturity on March 1
as follows: $500 in each of the years 1911, 1913, 1915 and
$500 yearly from 1917 to 1927 inclusive.
Los Angeles City School District, L 03 Angeles County,
Cal.— B o n d O f f e r i n g .— Proposals will be received until 2 p. m.
Oct. 11 for the $240,000 4 % 1-40-year (serial) gold school
bonds offered but not sold on Sept. 13. V. 89, p. 797. Se­
curities are dated April 1 1909. Interest semi-annual.
Los Angeles City High School District, Los Angeles
County, Cal.— B o n d O f f e r i n g — Proposals for the $480,000
4 % 1-40-year (serial) gold school bonds offered without
success on Sept. 13 (V. 89, p. 797) will he received by the
i Supervisor until 2 p. in. Oct. 11. Bonds bear date ot
April 1 1909. Interest semi-annual.
Lowell, Middlesex County, Mass .— B o n d S a l e — On
Sept. 28 the $50,000 4% 1-10-year (serial) coupon municipal
bonds described in V. 89, p. 797, were awarded to Blodget.
Merritt & Co. of Boston at 102.197 and accrued interest—a
basis of about 3.556%. Following are the bids:

Jeanerette, Iberia Parish, La.— B o n d s V o t e d — The ques­
ta b r o o k & C o ., B o s t o n — 1 0 1 .6 1 9
tion of issuing school-building bonds was ratified by the B l o d g e t , M e rr itt A C o ., B o s . 1 0 2 .1 9 7 RK .sM
. F a r n s w o r t h A C o ., B o s . t 0 1 . 5 7 i )
M errill, O ld h a m A C o ., B o s
1 0 2 .0 8 5
voters on Sept. 2 1 .
N . W . H a r r is A C o ., B o s t o n . 1 0 2 .0 2 1 F e r r y , C o ffin A B u rr , B o s t o n . 101 ..>(>9
.. B o s t o n . -IO 1 ..I 8 0
Jellico, Campbell County, Tenn.— B o n d s N o t to B e O f fe r e d C ro e k e r A F is h e r , B o s t o n .1 0 1 .8 7 7 RA .mLe .r icDaany BAaCn ko in
g C o ., B o s 101.031)
E . 11. R o llin s A .Sons, B o s t o n .1 0 1 .7 7 0
a t P r e s e n t . — We are informed that the $90,000 water-works B
la k e B r o s . A C o ., B o s t o n . . 1 0 1 .7 7 0 K o u r ltz e B r o s ., N e w Y o rk
and sewer-system bonds voted on July 21 (V. 89, p. 303) A d a m s A C o ., l l o s t o n _______1 0 1 .6 9 0
“may possibly be issued the first of nextjyear.’V^:^ H&l
Lufkin, Angelina County, Tex. — B o n d s V o t e d .— On Sept.
JonesTCounty Common School District, Tex.— B o n d ' S a l e . 21 the voters of this city authorized the issuance of $8,000
•—On Aug. 13 tire $7,500/5% school-house bonds registered bonds.



Luling School District (P. O. Luling), Caldwell County,
Tex. — Bonds Voted. — A n e le c tio n h e ld r e c e n tly r e s u lte d in
fa v o r o f a p r o p o s itio n to is s u e 3 1 0 ,0 0 0 b o n d s fo r t h e e r e c tio n
o f a p u b lic free sc h o o l b u ild in g .
Lynchburg, Va.— Bonds Not to Be Re-Offered. — T h e C ity
A u d ito r in fo r m s u s u n d e r d a te o f S e p t . 27 t h a t h e d o e s n o ;
th in k t h a t th e 3 4 0 0 ,0 0 0 4 % 3 0 -y e a r c o u p o n p u b lic -im p r o v e ­
m e n t b o n d s , b id s for w h ic h w ere r e je c te d on A u g . 16 (V . 8 9 ,
p . 4 8 8 ) , w ill b e re-o ffered for sa le .
Lynn, Essex County, Mass.— Bonds Authorized. — O rd in ­
a n c e s p r o v id in g for th e issu a n c e of th e fo llo w in g 4 % b o n d s
w ere p a s se d b y th e C ity C ou n cil o n A u g . 24: 320^000 d u e
S e p t . 1 19 1 9 for s tr e e t im p r o v e m e n ts a n d 3 1 5 ,0 0 0 d u e
S e p t . 1 1929 to b u ild th e W e st L y n n sc h o o l-h o u s e .
McKinley, Oscoda County, Minn.— Bond Offering. — P ro ­
p o s a ls w ill b e r e c e iv e d u n til O c t. 5 fo r 3 5 ,0 0 0 0 % p e r m a n e n t
im p r o v e m e n t b o n d s .

M in n e a p o lis a t 1 0 3 .5 8 3 a n d
b id s w e r e r ec eiv e d :

accrued in t e r e s t .

F . li. M agraw , S t. P a u l___ 12,410
H arris T r. & S av . R ank, C hic 12,408
N . \V. H alsey & Co., Chicago 12,161
.M aturity $6,000 on O ct. 1 In each

The following

Coffin & C raw ford, C hicago..$12,150
U len, Sutherlln& C o., Chicago 1 2 ,1 2 8
C. H . Coffin, Chicago.............. 12,121
S. A . K ean & Co., C h icag o .- 12,025
of th e years 1020 a nd 1925.

Mount Kisco, Westchester County, N. Y .— Bond Offering.
— P r o p o sa ls w ill b e r e c e iv e d u n til 8 p . m . O c t. 4 b y T . J ,
C a r p e n te r, V illa g e C lerk , fo r $ 1 0 ,0 0 0 r e g iste r e d ro a d im p r o v e m e n t b o n d s .
In bid) je m l-annually in M ount Kisco. M atu rity $500 y e arly on N ov. 1
from 1914 to 1933 inclusive. Certified cheek (or cash) for 10% of a m o u n t
bid , payable to th e Village of M ount Klsoo, is required.

lut. Oliver, Allegheny County, P a. — Bond Offering. — P ro ­
p o s a ls w ill b e r e c e iv e d u n til 8 p . m . O c t. 10 b y P r a n k K r u se ,
C h airm an F in a n c e C o m m itte e , fo r th e 3 7 5 ,0 0 0 4 % c o u p o n
s a n ita r y -s e w e r b o n d s m e n tio n e d in V . 8 9 , p . 6 2 .

A u th o rity , vote of 18 " fo r” to 5 “ a g a in st" a t election held S ept. 20,
In te re st sem i-annual. M atu rity p a rt y early on O ct. 3 from 1910 to 1914
Inclusive.

D enom ination $1,000. In te re s t sem i-annual. M atu rity $15,000 on
J a n . 1 in each of th e years 1915, 1920, 1925, 1930 a n d 1935. Bonds are

Marble Falls Independent School District (P. O. Marble
Falls, Burnet County, Tex.— Bonds Registered. — T h e 3 8 ,0 0 0

w ir iZ deUv“ red J a n ! T i 9 l 0 e rt

5 % 1 0 -2 0 -y ea r (o p tio n a l) c o u p o n sc h o o l-b u ild in g a n d rep air
b o n d s p u rc h a sed b y J o h n H . S o n n ta g & C o. o f C h ica g o ,
o n A u g . 1 (V . 8 9 , p . 6 1 4 ), w ere r e g iste r e d on S e p t . 11 b y th e
S t a t e C o m p tro ller.
Marion, Marion County, Ohio.— Bond Offering.— P ro p o sa ls
w ill b e r e c e iv e d u n til 12 m . O c t. 5 b y H a r r y S . E llio t t , C ity
A u d ito r , for 3 6 ,8 0 0 4 % c o u p o n r e fu n d in g b o n d s .

U p to S e p t . 22 n o a w a r d h a d b e e n m a d e o f t h e $ 6 5 ,0 0 0 4 ]A%
w a te r -w o r k s b o n d s o ffered o n S e p t . 8 a n d d e sc r ib e d i n “V .
89, p . 488.

A u th o rity , Section 2707, Revised S ta tu te s . D enom ination $300, except
one bond of $300. D ate S ep t. 1 1909. In te re s t sem i-annually a t the City
T rea su re r’s office. M atu rity as follows: $300 on M arch 1 1911, $300 each
six m onths from S ep t. 1 1911 to M arch 1 1913 Inclusive, $1,000 each six
m onths from S ep t. 1 1913 to S ep t. 1 1914 inclusive an d $500 each six
m onths from M arch 1 1915 to M arch 1 1910 Inclusive. Ilonds a re exem pt
from all tax es. Certified check for $500, p ay ab le to th e C ity T reasurer, Is
required.

Marshville Graded School District (P. O. Marshville)
Union County, N. C .— Bond Sale.— 'T h e 3 1 0 ,0 0 0 5% 2 0 -y e a r
sc h o o l b o n d s o ffered b u t n o t so ld on A u g . 18 (V . 8 9 , p . 4 8 8 )
w e r e r e c e n tly d isp o se d o f to th e S o u th e r n N a tio n a l B a n k of
W ilm in g to n , N . C ., a t p ar.
Marysville, Yuba County, Cal.— Bonds Voted. — T h is p la c e
is r ep o rte d a s h a v in g v o te d to issu e 3 8 0 ,0 0 0 h ig h -s c h o o l a n d
g r a m m a r -sc h o o l b o n d s .

Melissa Independent School District (P. O. Melissa),
Collin County, Tex.— Bonds Awarded in P a r t — Bond Offer­
ing.— O f th e 3 1 0 ,0 0 0 5% sc h o o l-b u ild in g b o n d s fa v o r a b ly
v o te d u p o n la s t J u n e (V . 8 8 , p . 1638) 3 4 ,5 0 0 h a v e b e e n d is­
p o s e d o f to fu n d s o f C ollin C o u n ty . T h e r e m a in in g $ 5 ,5 0 0
b o n d s a re n o w b e in g offered for sa le a t p a r a n d a c cr u e d
in te r e s t.
D enom ination $500. D ate Ju ly 1 1909. M atu rity Ju ly 1 1949, subject
to call a fte r Ju ly 1 1924. VV. N . Osborn Is P resident H oard of T rustees.

Memphis, Tenn.— Bond Award Rescinded. — T h e a w a r d o f
th e 3 2 6 0 ,0 0 0 4 % 4 0 -y e a r c o u p o n p o lic e -s ta tio n b o n d s w h ic h
to o k p la c e A u g . 31 h a s b een r e s c in d e d . A s r ep o rte d in Y .
8 9 , p . 6 1 4 , th e b o n d s w ere so ld to H . L . A r m str o n g of M em ­
p h is a t par a n d a c cr u e d in te r e s t, le s s a b ro k era g e c o m m is sio n
o f % o f 1% . T h e p r o c e e d in g s o f th e C o m m iss io n , s h o w in g
th e a w a r d , w ere fo r w a rd ed to D illo n & H u b b a r d o f N e w Y o rk
C ity , “ w h o fo u n d o b je c tio n in th e la w to th e d e d u c tio n o f th e
b ro k e r a g e o f % o f 1 % .”

d Che° ‘£ for ? 1 ’000 13 rc q u lre d ‘

Bonds

Mt. Pleasant, Maury County, T en n — Bonds Not Sold.—

Mt. Vernon Independent School District (P. O. Mt. Ver­
non), Franklin County, Tex.— R on d s Not Sold.— U p t o S e p t .
25 n o a w a r d h a d y e t b e e n m a d e o f t h e $ 8 ,2 5 0 5% 3 0 -4 0 -y c a r
(o p tio n a l) sc h o o l b o n d s , th e u n so ld p o r tio n o f th e is s u e o f
$ 1 5 ,0 0 0 b o n d s m e n tio n e d in V . 8 9 , p . 4 8 9 .
Napa, Napa County, Cal.—Bond Sale. — T h e $ 1 5 ,0 0 0 5 %
2 0 -y e a r b rid g e b o n d s, p r o p o s a ls fo r w h ic h w e re a s k e d u n til
S e p t. 14 (Y . 8 9 , p . 6 7 9 ), w ere a w a r d e d o n S e p t . 2 1 , i t is
s t a t e d , t o t h e B a n k o f N a p a fo r $ 1 5 ,7 0 0 , t h e p rice t h u s b e ­
in g 1 0 4 .6 6 6 .

Nelson, Nuckolls County, Neb.— Bonds Voted. — A p r o p o ­
s itio n to issu e $ 3 6 ,0 0 0 5 % 5 -2 0 -y e a r ( o p tio n a l) w a te r -w o r k se r e c tio n b o n d s carried b y a v o t e o f 2 1 7 to 18 a t a n e le c tio n
h eld S e p t . 3.
Netcong, Morris County, N. J .— Bond Sale. — T h e $ 3 5 ,0 0 0
b o n d s for th e p u rc h a se o f t h e p la n t o f t h e R o c k la n d W a te r
C o. w ere a w a r d e d on S e p t . 2 7 , it is s t a t e d , to th e S u s s e x N a ­
tio n a l B a n k o f N e w to n a t 1 0 1 .5 0 for 5 % b o n d s , m a tu r in g
3 1 ,0 0 0 y e a r ly for 29 y e a r s a n d $ 6 ,0 0 0 in 30 y e a r s . T h e se
b o n d s w e re o ffered a s str a ig h t 3 0 -y e a r 4 s o n A u g . 2 4 . S ee
V . 89, p . 365.
New Canaan, Faifrield County, Conn.— Bonds Awarded in
Part. — O f th e $ 5 5 ,0 0 0 4 % c o u p o n fu n d in g b o n d s offered o n
S e p t. 27 (V . 8 9 , p . 7 9 7 ), $ 4 5 ,0 0 0 w e re d isp o se d o f a t p ar a n d
a c cr u e d in te r e s t a s fo llo w s: $ 1 0 ,0 0 0 to th e S ta m fo r d T r u st
C o. o f S ta m fo r d , $ 2 0 ,0 0 0 to t h e C itiz e n s’ S a v in g s B a n k o f
S ta m fo r d a n d $ 1 5 ,0 0 0 to th e F a ir field C o u n ty S a v in g s B a n k
o f N o r w a lk .

New Martinsville, Wetzel County, W. Va.— Bonds Voted.

T h e p ro p o sed issu e o f 3 7 5 0 ,0 0 0 h ig h w a y b o n d s , m e n tio n of
w h ic h w a s m a d e in V . 8 9 , p . 6 7 9 , w a s d e fe a te d b y th e v o te r s
on S e p t. 20.

— T h e v o te r s o f th is to w n h a v e a u th o r iz e d th e issu a n c e o f th e
$ 1 2 ,0 0 0 w a te r -w o r k s-im p r o v e m e n t b o n d s m e n tio n e d in V . 8 9 ,
p. 427.
New Orleans, La.— Bonds Proposed. — T h e F in a n c e C o m ­
m itte e o f t h e S e w e ra g e a n d W a te r B o a r d a t a m e e tin g h eld
S e p t . 23 a d o p te d a r e s o lu tio n a s k in g t h e B o a r d o f L iq u id a tio n
to a d v e r tis e for s a le $ 3 ,0 0 0 ,0 0 0 b o n d s fo r t h e c o m p le tio n o f
se w e r a g e a n d r e-in a u g u r a tio n o f d r a in a g e w o r k . I t is s t a t e d
in lo c a l p a p er s th a t th e r e s o lu tio n w ill b e referred to t h e
B o a r d o f L iq u id a tio n a t a m e e tin g t o b e h e ld O c t. 14.

Merit Independent School District (P. O. Merit), Hunt
County, Tex, — Bond S a l e — The 3 2 ,0 0 0 5 % 1 0 -2 0 -y e a r (o p ­

New Rochelle, Westchester County, N. Y .— Bond Offer­
ing. — P ro p o sa ls w ill b e r ec eiv e d u n til 8 p . in . O c t. 5 b y W m .

Merced County (P. O. Merced), Cal.— Bonds Defeated —

tio n a l) b o n d s reg iste re d b y th e S t a t e C o m p tro ller o n A u g . 9
(Y . 8 9 , p . 4 8 9 ) w ere so ld a b o u t A u g . 1 to fu n d s o f H u n t
C o u n ty a t p a r. D e n o m in a tio n 3 2 5 0 .
D a te J u n e 15 1 9 0 9 .
in te r e s t a n n u a l.
Merkel, Taylor County, Tex.— Bond Offering. — P r o p o sa ls
w ill b e r e c e iv e d u n til 12 m . O c t. 9 for th e 3 2 5 ,0 0 0 5% 2 0 -4 0 y e a r (o p tio n a l) co u p o n w a te r-w o rk s b o n d s r eg iste re d (V . 8 9 ,
p . 4 2 7 ) o n A u g . 3 b y th e S t a t e C o m p tro ller.
_ A u th o rity A rticle 480, Revised S ta tu te s of 1895. D enom ination $1,000.
D ate Ju ly l 1909. In te re s t a n n u ally In M erkel a n d A ustin. No d e b t a t
p re sen t. A ssessed v alu atio n 1909, $894,407

Millersburg, Holmes County, Ohio.— Bid. — W e a re in ­
fo r m e d th a t th e J . & G . A d a m s B a n k o f M illersb u rg w a s th e
o n ly b id d er o n S e p t. 23 for t h e $ 2 ,5 0 2 4 % s tr e e t-im p r o v e ­
m e n t a s s e s s m e n t b o n d s a w a r d e d th e m a t p a r. S e e V . 89
i-v

707

n
t o°19

A

1

9

rCr S ° ff CC'

§ ?p t - 22 1909. In te re st sem i-annually a t
M atu rity $278 yearly on S ep t. 23 from 1911

Mingus Independent School District (P. O. Mingus), 1
Pinto County, Tex. Bond Offering. — P r o p o sa ls w ill b e
c e iv e d u n til 2 p . m . O ct. 4 b y H . S . R u ck er , D is tr ic t S e
ta r y , fo r $ 8 ,5 0 0 5 % sc h o o l-b u ild in g b o n d s .
_ A
. pril
.. 1.
.
Allir • 11 iI1909.
OOO iiitv.j
Internet
annim
li.. on
iJ'iio
D
ate *
Aug.
In te revov
s t mint
an
n u ally
M atu rity 40 yc

subject to call a fte r 20 years.
Cert
: G
R. M. Loflln, T reasu rer,1 Is required.
Assessed v aluation 1900, $305,000.

for 5%
u /o 6° fi b
u id
h i , payab!
payuoi
l ne d istric t has no d e b t a t pres

e nu r

t ' lv

Minot, Ward County, No. Dak.— Bond Sale.— A rra n g e­
m e n ts h a v e b een m a d e w ith th e S t a t e o f N o r th D a k o ta for
th e s a le o f $ 1 1 5 ,0 0 0 fu n d in g b o n d s .
Montevideo, Chippewa County, Minn.—Bond Sale. — On
S e p t . 2 5 th e $ 1 2 ,0 0 0 5 % c o u p o n w a te r -w o r k s b o n d s d e sc r ib ed
in V. 8 9 , p . 7 9 7 , w ere a w a rd ed to th e W e lls & D ic k e y C o. of



G. R a in s fo r d , C ity C lerk , for $ 1 2 ,5 0 0 4)/£% r e g iste r e d sc h o o l
bon ds.
D enom ination $1,000, except one bond of $1,500. In te re s t on May l an d
N ov. 1 a t the C ity T reasu rer’s olllce a n d , a t holder’s o ption, w illb c p a id in
New Y ork exchange. M atu rity on May 1 as follows: $5,000 In each of the
years 1929 a nd 1930 a nd $2,500 In 1931. Certified check on a bank or
tru s t com pany In New York S ta te for 5% of bonds bid for, payable to the
C ity Irea su re r, Is required. Bids m u st be m ade upon form furnished by
th e C ity Clerk. The legality of th e Issue will be approved by D clalleld &
Longfellow of New York C ity, a copy of whose opinion will be delivered to
purchaser. Bonds re a d y for delivery on O ct. 12. P u rch aser to p a y ac­
crued in terest.

New York City.—Bond Sales. — The Sinking Fund of this
city during the month of September purchased the following
bonds at par:
P urpose—
V arious m unicipal purposes. _ _ ____
W ater b o nds......................... ....................

T o tal - .-------- ---------------- ---------

R a te o f I n t . M a tu r i ty . A m o u n t.

.
..

3
3

1958
1958

$113,421
1,000

------------------------------------- ...$ 1 1 4 ,4 2 1

T h e fo llo w in g r e v e n u e b o n d s (te m p o r a r y se c u r itie s ) w e r e
a lso issu ed d u rin g S ep tem b er:
R evenue
R evenue
R evenue
R evenue
R evenue
R evenue

bonds,
bonds,
bonds,
bonds,
bonds,
bonds,

In te r e s t.

c u rre n t e x p e n s e s . .. -------------------------c u rre n t expenses----------- ----------- -------c u rren t expenses_____________________ 2
c u rre n t expenses-------------- -------- -------special_______________________________
special____________________ _____ _____

3
3%

15-16
2%

SH
3^

A m o u n t.

$150,000
1,750,000
1,100,000
2,000,000
lOOiOOO

200,000

T o t a l ............................................................................................................ $5,300,000

Niagara Falls, Niagara County, N. Y.— Bond Offering .—
P r o p o sa ls w ill b e r e c e iv e d u n til 10:30 a . m . O ct. 6 b y th e
B o a r d o f E s t im a t e a n d A p p o r tio n m e n t for $ 4 5 ,5 0 0 4
g o ld
r e g iste r e d (S eries “ C” ) se w e r b o n d s .
D enom ination 51,000, except one bond of $500. In te re s t on J a n . 1 an d
Ju ly 1 to registered holder in New York exchange. M atu rity J a n . 1 1929.
C ertilled check for $1,000, payable to Thos. H. Hogan, City Clerk, is re­
quired. P u rch aser to pay accrued Interest.

Pike, Wyoming County, N. Y. — Bonds Voted. — A n e le c ­
Niles, Ohio.— Bond Sale.— This place, it is stated, has sold
$1,500 5% bonds to William Hoffman of Southington for tio n h e ld S e p t. 27 r e s u lte d , i t is s t a t e d , in fa v o r of a p r o p o si­
tio n t o is s u e $ 1 5 ,0 0 0 w a te r -s y s te m b o n d s .
$1^540, the price thus being 102.666.
Pine Bluff Sidewalk District No. 4 (P. O. Pine Bluff),
Nocona Independent School District (P. O. Nocona),
Montague County, Tex.— Bond Offering.— Proposals were Jefferson County, Ark.— Bond Sale. — T h e M er ch a n ts’ &
asked for until 12 m. yesterday (Oct. 1) by J. C. Horton, P lan ters* B a n k o f P in e B lu ff p u r c h a se d o n S e p t. 9 a n is s u e of
President Board of Education, for the $15,000 5 % coupon $ 1 5 ,0 0 0 6% b o n d s a t p a r .
D enom ination $500. D ate O ct. 1 1909. In te re s t a n n u al. M atu rity
bonds registered by the State Comptroller on Sept. 16. (V.
p a rt yearly from one to five years. Inclusive.
89, p. 797.)
Polk County (P. O. Crookston), Minn.— Bond Sale. — A n
D enom ination $200. D ate J u ly 1 1909. In te re st on A pril 10 In A ustin,
T e x ., o r a t th e H an o v er N atio n al B ank In New York. M atu rity 40 years,
su b je c t to call a fte r 10 y ears. Assessed v alu atio n $649,842. T he result of
th is ottering was n o t know n to us a t th e h o u r of going to press.

is s u e of $ 1 6 ,0 0 0 D itc h N o . 72 b o n d s w a s r e c e n tly d isp o se d o f
to t h e S t a t e of M in n e so ta .
T h is c o u n ty h a s a lso so ld th e fo llo w in g 4 % b o n d s:

Normal, McLean County, 111.— Bonds Voted.— An elec­ $29,900 b o nds-due p a rt yearly on J u ly 1 from 1913 to 1917 Inclusive.
tion held Sept. 18 resulted in a vote of 416 “for” to 58 38,300 bonds tlu e p a rt yearly on Ju ly 1 from 1915 to 1919 Inclusive.
“against” a proposition to issue $36,000 5% paving coupon
Princeton, Mercer County, W. Va.— Bonds Voted. — A b o n d
(town’s portion) bonds. We are informed that they will is s u e for im p r o v in g th e s tr e e ts w a s fa v o r e d b y th e v o te r s a t
not be issued until next spring.
a n e le c tio n h e ld S e p t . 4 .
D en om ination $1,000. N ine bonds a re d a te d J a n . 2 1910 an d m a tu re
Q u in c y , Mass.— Temporary Loan. — A $ 2 5 ,0 0 0 5 -m o n th s
M arch 31 1911 a n d tw enty-seven bonds a re d ated J a n . 2 1911 and m a tu re
$9,000 on M arch 31 in each of th e years 1912, 1913 a n d 1914.
n u ally a t th e Tow n T rea su re r's office.

In te re s t a n ­

Northampton School District (P. O. Northampton),
Northampton County, Pa.— Bond Offering.— Proposals will
be received until 7 p. m. Oct. 6 by E. T. Diefenderfer, Dis­
trict Secretary, for $70,000 5% coupon school-building

bonds.
D enom inations: 100 bonds of $500 each a n d 100 bonds of $100 each.
D ate O ct. 1 1909. In te re s t sem i-annually a t th e Coplay N ational B ank in
Coplay. M atu rity on O ct. 1 as follows: $7,700 In each of the years 1911
an d 1912, $9,800 In each of th e years 1913 and 1914, $11,200 in each of the
years 1915 an d 1916 a n d $12,600 In 1917, all bonds being su b ject to call
a fte r O ct. 1 1914. Bonds are ex em p t from tax es. Certified check for 5%
of a m o u n t b id, p ayable to W . H . Y oung, T reasu rer, is req u ired. T o tal
d e b t, including th is Issue, $89,000.

North Brownsville School District, Ore.— Bond Sale .—

lo a n h a s b e e n n e g o tia te d w ith th e F ir s t N a tio n a l B a n k o f
B o sto n a t 5% .
Rayne, La.— Bond Offering. — P r o p o sa ls w ill b e r e c e iv e d
u n til 8 p . m . O cto b er 5 b y E . L . C ran d all, M ayor, for th e
$ 2 5 ,0 0 0 5 % sc h o o l a n d w a te r -m a in -e x te n s io n b o n d s v o t e d
(V . 8 9 , p . 2 4 3 ) on J u ly 15. M a tu r ity 22 y e a r s . C ertified
c h e ck for 5% o f issu e is r eq u ired .

Rock County School District No. 73, Minn.— Bond Offer­
ing. — P r o p o sa ls w ill b e r e c e iv e d u n til 2 p . m . to - d a y (O c t. 2 .)
b y G . A . H a g e d o r n , D is tr ic t C lerk ( P . O . L u v e r n e ), fo r $ 1 ,2 0 0
6 % c o u p o n s c h o o l-b u ild in g b o n d s .
D enom ination $200. In te re s t ann u ally on J a n .
yearly on J a n . I from 1914 to 1919, Inclusive.

1.

M atu rity $200

Rock River Township (P. O. Chatham), Alger County,
An issue of $15,800 5% school-building bonds was recently
Mich.— Bond Sale.— T h e F ir st N a tio n a l B a n k o f A lger C o u n ty
awarded to Morris Brothers of Portland at par.
D en o m in atio n $1,000, e x cep t one bond of $800. D ate O ct. 1 1909.
In te re s t sem i-an n u al. M atu rity O ct. 1 1929, su b jec t to call a fte r O c t.l 1919

p u r c h a se d $ 1 8 ,5 0 0 5% h ig h w a y -im p r o v e m e n t
S e p t . 1 a t p a r a n d a c c r u e d in te r e s t.

bonds

on

North Platte School District (P. O. North Platte), Lincoln
County, Neb.— Bond Sale.— An issue of $40,000 5% 10-20-

D ate S ept. 1 1909. In te re st a n n u ally In F e b ru ary .
yearly from 1910 to 1914, inclusive, and $3,500 In 1915.

bonds were awarded on Aug. 9 to the Harris Trust & Sav­
ings Bank of Chicago (V. 89, p. 489). We are advised that
the first sale was not consummated as the district was una­
ble to comply with the requirements of the attorneys of the
-Chicago firm.
Norwalk, Fairfield County, C onn— Bond Offering— Pro­
posals will be received until 2 p. m. Oct. 11 by John Cavanagh, Mayor, for $70,000 4% coupon (with option of regis­
tration) water-works bonds:

2 0 -4 0 -y e a r (o p tio n a l) s c h o o l-b u ild in g b o n d s v o te d la s t M ay
(V . 8 8 , p . 1389) w ere r eg iste re d b y th e S t a t e C o m p tro ller.

M atu rity $3,000

Roscoe Independent School District (P. O. Roscoe), Nolan
year (optional) registered school-building bonds was dis­
posed of on Sept. 9 to the State of Nebraska at 105. These County, Tex.— Bonds Registered. — O n S e p t. 2 0 th e $ 6 ,0 0 0 5 %

D ate J u ly 1 1909. In te re s t sem i-annually a t th e U . S. M ortgage &
T ru st Co. in New Y ork C ity. M atu rity Ju ly 1 1934. C ertified check for
$500 is req u ired . Bonds will be certified as to genuineness by the U. S.
M ortgage & T ru st Co. of New Y ork. Bids to be m ade on b lank form s fu r­
nished by city . P u rch aser to p ay accrued in te re st.

Rosebush (P. O. Grand Marais), Cook County, Minn.—
Bond S a l e — O n S e p t. 24 $ 1 0 ,0 0 0 6 % 1 0 -y e a r ro a d a n d b r id g e
b o n d s w ere a w a r d e d to C raw ford L iv in g s to n a t p a r . A
of p ar w a s a lso r e c e iv e d fr o m th e C o m m ercia l I n v e s t m e n t
o f D u lu th . D e n o m in a tio n $ 1 ,0 0 0 . D a t e S e p t . 1 1 9 0 9 .
te r e st se m i-a n n u a l. ■j , :
.
! ‘
'

b id
C o.
In ­
■ !

Rotterdam School District No. 14 (P. O. Schenectady),
Schenectady County, N . Y .—Bond Sale. — W . N . C oler & C o.
o f N e w Y o r k C ity h a v e p u r c h a se d $ 3 ,0 0 0 5% b u ild in g b o n d s .

Rowena Independent School District (P . O. Rowena),
Runnels County, Tex.— Bonds Not Sold. — U p to S e p t. 2 5
Onslow County (P. O. Jacksonville), N. C.— Bond Offer­ n o sa le h a d b e e n m a d e of th e $ 7 ,0 0 0 5 % sc h o o l-b u ild in g

ing.— Proposals will be received until Nov. 20 by the Board b o n d s o ffered on A u g . 2 8 . S e e V . 8 9 , p . 4 9 0 , for d e sc r ip tio n
of Commissioners, John A. Pittman, Chairman, for $40,000
coupon refunding bonds. Separate bids are requested for of th e s e se c u r itie s .
Saco, York County, Me.— Bond Sale. — A n issu e of $ 1 5 ,0 0 0
4%, 4V£% and 5% bonds.
A u th o rity , C h ap ter 184, Laws of 1907. D enom ination $500. In te re st
sem i-an n u al. M atu rity 30 years. Bonds to be delivered an d paid fo r on
J a n . 1 1910.

Oshkosh, Winnebago County, Wis.— Bond Sale.— This
city has disposed of $3,500 patrol-house and $26,500 mainsewer bonds. Maturity $1,000 of each issue yearly, begin­
ning 1910.
Palo Alto, Santa Clara County, Cal.— Bond Sale.— The
$14,000 5% 1-40-year (serial) gold coupon improvement
bonds offered on Sept. 13 (V. 89, p. 680) were awarded, it is
stated, to the Wm. R. Staats Co. of Pasadena at 102.23.
Paxton, Ford County, 111.— Bond Sale.— Local papers
report the sale of $8,000 5% sewer bonds to Farson, Son &
Co. of Chicago for $8,109 (101.362) and accrued interest.
Date Sept. 1 1909. Maturity part yearly on July 1 from
1911 to 1914, inclusive.
Paw Paw Township (P. O. Paw Paw), Sequoyan County,
Okla .— Bond Offering.— Proposals were asked for until 12
m. yesterday (Oct. 1) by Thos. J. Watts, Attorney (P. O.
Muldrow), for $5,000 6% coupon road-improvement bonds.
D enom ination $1,000. D ate Ju ly 1 1909. Iid e re s t sem i-annually a t
th e fiscal agency in New Y ork C ity. M atu rity Ju ly 1 1934, su b ject to call
a fte r 10 years. No bonded d e b t a t p resen t. Assessed valu ation 1909
$783,600. The re su lt of this offering was n o t know n to us a t the h o u ro f
going to press.

3^2% refu n d in g b o n d s w a s so ld o n S e p t . 1 to t h e S a c o S a v ­
in g s B a n k of S a c o a t 9 7 .

D enom ination $500.
tu rity $500 yearly.

D ate Sept. 1 1909.

In te re s t sem i-annual.

M a­

St. C la ir s v ille , O h io .— Bond Sale. — O n S e p t . 27 $ 7 ,5 0 0
4 J^% s tr e e t-p a v in g b o n d s o ffered o n t h a t d a y w e re a w a r d e d
to P . W . D ic k e y , P r e sid e n t of t h e D o lla r S a v in g s B a n k of
S t . C la irsv ille.
St. Petersburg, Hillsboro County, Fla.— Bond Sale.— T h e
$ 3 0 ,0 0 0 sc h o o l a n d $ 4 5 ,0 0 0 im p r o v e m e n t 5 % 3 0 -y e a r b o n d s
offered b u t n o t a w a r d e d o n J u ly 1 (V . 8 9 , p . 3 0 4 ), h a v e b e e n
s o ld , it is r e p o r te d , to t h e N e w F ir s t N a tio n a l B a n k o f Co­
lu m b u s , O h io .
•• -d ' 1 ' ^ ^
^
’4 ti
Salamanca, Cattaraugus County, N. Y .—Bond Sale.—
O n S e p t. 27 th e $ 1 0 ,0 0 0 1 -2 0 -y ea r (seria l) p a rk b o n d s d e ­
scrib ed in V . 8 9 , p . 7 4 1 , w ere a w a r d e d to J o h n J . H a r t ot
A lb a n y a t 1 0 0 .1 1 for 4 .4 0 s . T h e o th e r b id d e r s w ere:
U nion Savings B ank, Patchogue— for 4.40s.
A dam s & Co., New Y ork— $10,031 for 4.50s.
O tis & H ough, C leveland— $10,253 for 5s.

San Anselmo, Marin County, Cal.— Bonds Voted. — I t is
r e p o r te d t h a t th is c it y r e c e n tly v o t e d to is s u e $ 4 0 ,0 0 0 s tr e e tim p r o v e m e n t b o n d s .

San Bernardino City School District (P. O. San Bernar­
Petersburg, Lincoln County, Tenn.— Bond Sale.— The dino), San Bernardino County, C al— Bond Offering. —

$4,000 6% 5-15-year (optional) coupon school bonds offered P r o p o sa ls w ill b e r e c e iv e d u n til 11 a . m . O ct. 11 b y th e
on Sept. 1 and described in V. 89, p. 490, were awarded to the B o a rd of S u p e rv iso r s, C h arles P o s t , e x -o ffic io C lerk , for
Bank of Petersburg at 101.
$ 3 5 ,0 0 0 5 % g o ld sc h o o l b o n d s .

Phillipsburg School District (P. O. Phillipsburg), Mont­
gomery County, Ohio.— Bond Offering.— Proposals will be
received until 12 m. Oct. 9 by M. J. Zimmerman, Clerk
Board of Education, for $2,000 5% school-building and re­
pairing bonds.

A u th o rity , Sections 3991 an d 3992, R evised S ta tu te s , also election held
S ep t. 7 1909. D enom ination $400. D ate O ct. 9 1909. In te re st sem i­
a n n u al. M atu rity $400 yearly from 1912 to 1916, Inclusive. Certified
check on a n atio n al b an k for 5% of bid Is req u ired . P u rch a ser to p a y ac­
crued In terest.

Phoenix School District (P. O. Phoenix), Maricopa County
Ariz .— Bonds Voted.— The election held Sept. 18 (V. 89, p

A u th o rity , vote of 242 " fo r” to 62 “ a g a in st” a t election held Aug. 26.
D enom ination $500. D ate S ept. 20 1909. In te re s t sem i-annually a t tne
C ounty T reasu rer's office. M atu rity on S ept. 20 as follows: $3,500 yearly
from 1919 to 1921 Inclusive, $3,000 In 1925, $4,000 In 1926 and $ 3,50 0 in
each of the years 1927 and 1928. Certified check (or cash) for 5% of old,
payable to the C hairm an of th e B oard, is required.

San Diego County (P. O. San Diego), Cal.—Bond Sale. —•
O n S e p t. 2 0 th e $ 1 ,2 5 0 ,0 0 0 4 )^ % g o ld h ig h w a y b o n d s d e ­
sc r ib ed in V . 8 9 , p . 6 8 1 , w ere a w a r d e d to th e B a n k o f C o m ­
m erce & T r u st C o. o f S a n D ie g o a t 1 0 1 .0 8 8 a n d a c c r u e d in te r ­
est.
T h e o th e r b id s w e r e a s fo llo w s:

K .H .R oltlns& Sons,SanF_a$l,289,5051 J . II. A d a m s& C o .,L o sA .$ 1 .-5 4 ,7o0
San Diego Sav. B U ..S .D . 1 .257,902 | N .W .H alscy& C o., S a iil--- 5M 6 276

a Provided the to ta l Issue be delivered im m ediately,
b I’or $,>20,000
243) resulted in favor of the proposition to issue $125,000
5% 20-year school-building bonds.^The vote was 50 “for” b°MaStu rlty $31,000 yearly on O ct. 1 from 1910 to 1939 Inclusive and $32,000
yearly on O ct. 1 from 1940 to 1949 Inclusive.
•
to 8 “against.”
fasd&i




Saranac Lake, Franklin County, N. Y.— Bond\Offering .—
P ro p o sa ls w ill b e r e c e iv e d u n til 12 m . O c t. 4 b.y S e a v e r A .
M iller, V illa g e C lerk , for th e fo llo w in g r e g iste r e d or c o u p o n
b o n d s a t n o t e x c e e d in g 4J^ % in t e r e s t .

W

$0,000 surface-sew er bonds. A u th o rity , C h ap ter 414, Laws oil 1897, an d
a m en d m en ts th ereto . D enom ination $500. M atu rity $500 yearly
on S ep t. 1 from 1914 to 1931, Inclusive.
9,000 street-im p ro v em en t bonds. A u th o rity C h ap ter 414, Law s of 1897,
as am en d ed b y C h ap ter 308, Laws of 1904, an d C h ap ter 44, Laws of
1907. D enom ination $1,000. M a tu rity $1,000 y early on S ept. 1
from 1925 to 1933, Inclusive.
D ate S ep t. 1 1909. In te re st sem i-annually a t th e S aran ac Lake N ational
B ank In New Y ork exchange. C ertified check on a n atio n al b ank for 5%
of bid Is req u ired .

Sarasota, Manatee County, Fla. — Bond Sale;— W e h a v e
j u s t b e e n in fo r m ed t h a t th e $ 2 5 ,0 0 0 6 % 3 0 -y e a r c o u p o n
s tr e e t-p a v in g b o n d s d e sc r ib ed in V . 8 8 , p . 7 8 3 , w ere so ld
la s t A p ril to J o h n N u v e e n & C o . o f C h ica g o a t 1 0 0 .1 0 4 .
Sargent, Custer County, Neb.— Bond Offering. — P ro p o sa ls
w e re a sk ed for u n til y e s te r d a y (O c t. 1) fo r th e $ 2 1 ,0 0 0 w a te r ­
w o r k s b o n d s m e n tio n e d in V . 8 9 , p . 3 6 6 . T h e r e s u lt o f th is
o fferin g w a s n o t k n o w n to u s a t th e h o u r o f g o in g to p r e ss.

Scurry County Common School District No. 6, Tex.—
Bond Sale. — T h e $ 1 ,4 0 0 5 %

1 0 -4 0 -y e a r (o p tio n a l) b o n d s
r eg iste r e d b y th e C o m p tro ller o n A u g . 10 h a v e b e e n p u r­
c h a se d w ith c o u n t y fu n d s a t p a r a n d in te r e s t.

Shelbyville, Shelby County, Ind.— Bond Offering. — P ro p o s­
a ls w ill b e r e c e iv e d u n til 7:30 p . m . O c t. 5 b y H . J . C lark ,
C ity C lerk , fo r $ 1 5 ,5 0 0 4 % g o ld c o u p o n p a r k b o n d s .
D enom ination $500. D ate O ct. 5 1909. In te re s t In D ecem ber a t the
Shelby N atio n al B ank. M atu rity p a rt y early from 1911 to 1921 Inclusive.
Bonds are ex em p t from all tax es. C ertified check for 5% of bid, p ayable
to th e city of Shelbyville, Is req u ired . Bonded d e b t, n o t including this
Issue, $57,600. F lo atin g d e b t, $12,755. S ln k ln g fu n d , $15,027. Assessed
valu atio n 1909, $5,602,639.

Shelley School District No. 30 (P. O. Shelley), Bingham
County, Ida. — Bond O fering. — P r o p o sa ls w ill b e r e c e iv e d
u n til 2 :3 0 p . m . O c t. 9 b y A . E . C h r iste n s e n , D is tr ic t C le r k ,
fo r $ 6 ,0 0 0 c o u p o n r e fu n d in g a n d b u ild in g b o n d s a t n o t e x ­
c e e d in g 6 % in te r e s t
A u th o rity C h ap ter, o Sections 69-72, Session Law s 1899. D enom ina­
tion $500. D ate O ct
1909. In te re st sem i-annually a t th e C ounty
T rea su re r’s office. M a tu rl£ 10 y ears. B onded d e b t n o t Including p resent
Issue, $7,000. A ssesse
alu a tlo n $161,800.

in V. 89, p. 798, were awardedjto Ferris'^& 4White of New
York City at 101.734— a basis of about 4.08%. A list^of
the bidders follows:
$17,000
„
, „ „ T1 .
bonds.
F erris
W hite, New Y o rk ___________ $17,160
FrlrsJ , N atIonal ° a n k , C leveland........... 17,148 00
N . W. m r r l s & Co., New Y o rk _____ 17,118 83
R. L. D ay & Co., New Y o rk __________ 17,100
O Connor & K ahler, New Y ork_____ 17,097 75
A dam s & Co., B oston------------------------ 17,093
A,
L?ach * Co., New Y ork------------ 17,085
W . N . Color & Co., New Y o rk ------------- 17,075
N. W . H alsey & Co., New Y o rk ______ 17,066 13
Parkinson & B urr, New Y o rk ------------ 17,054 40
K ountze B ros.. New Y o rk ---------------------- for th ree
B lodget, M erritt & Co., B oston ------- -------for th re e
W . C. Langley & Co., New Y o rk ___ ________
M offatt & W hite, N ew <Y o rk __ _____ __________

$20,000

$120,000

bonds.

bo n d s.

00$20,188 00$122,375 00
20,175 00
122,310 00
20,139 80
122,072 80
47 20,058 20121,839 60
20,115 00
121,470 00
5020,110 00 121,959 60
0020,100 00122,000 00
00 20,085 00121,180 00
20,077 80
121,536 00
20,064 00
120,852 00
Issues, $158,789 80-----issues, 158,381 60-----__
_
122.254 80
________ ^ 1 2 1 .6 7 7 ;3 1

Terrace Park, Hamilton County" Ohio.— Bond Offering.—
Proposals will be received until 12 m. Oct. 8 by Wm. E.
Williamson, Village Clerk, for $7,500 4y 2 % coupon, waterpipe (village’s portion) bonds.
A u th o rity , Section 53, M unicipal Code. D enom ination $750. D ate
O ct. 1 1909. In te re s t sem i-annually a t th e W estern-G erm an B ank of Cin­
c innati. M atu rity $750 yearly from 1912 to 1921 Inclusive. Certified
check for 5% of bonds bid for, payable to th e "V illage of T errace P a rk ,” is
required. P u rch aser to pay accrued in te re st. T o tal d e b t, a t p re sen t.
$5,353 60. Assessed v a lu a tio n , $218,000.

Terre Haute, Vigo County, Ind.— Bond Offering.— Pro­
posals will be received until 4 p.m. Oct. 5 by Chas. R. Duffin,
City Comptroller, for $35,000 4% bonds.
D enom ination $1,000. D ate O ct. 1 1909. In te re s t p ay ab le a t H an o v er
N ational B ank In New Y ork C ity. M atu rity O ct. I 1929. Certified check
for $1,000, payable to th e “ City of T erre H a u te ,” is re q u ire d . P u rch a ser
to furnish blank bonds free of charge.

Thompsonville, Benzie County, Mich.— Bond Sale. —
This village has sold $3,000 water and $2,000 light bonds.
Toledo, Ohio.— Bond Offering. — P ro p o sa ls w ill b e r e c e iv e d
u n til 7:30 p . m . N o v . 3 b y A m o s M c D o n n a ll, C ity A u d ito r ,
for th e $ 1 0 0 ,0 0 0 4 % c o u p o n g e n e ra l s tr e e t-im p r o v e m e n t
b o n d s m e n tio n e d in V . 8 9 , p . 1 2 0 .
D enom ination $1,000. D ate S ep t. 1 1909. In te re s t sem i-annually a t
the U. S. M ortgage & T ru st Co. In New Y ork C ity. M atu rity $10,000
yearly on S ep t. 1 from 1919 to 1928 Inclusive. Certified check o n a n a tio n a l
ban k In Toledo for 5% of bonds bid for, p ayable to th e C ity A uditor, Is re ­
quired. P u rch aser to p a y accrued Interest.
..-vsl
r*
man <1

Trenton, N. J. — Bonds Authorized. — O rd in a n c es h a v e b e e n
Snyder Independent School District (P. O. Snyder), p a s se d a n d a p p r o v e d p r o v id in g for th e is s u a n c e o f th e fo llo w ­
Scurry County, Tex.— Bonds Awarded in Part.— Oi th e $ 2 5 ,­ in g 4 % b o n d s: $ 5 ,5 0 0 to im p r o v e c e r ta in sc h o o ls; $ 6 ,2 0 0 to

0 0 0 5 % 5 -2 0 -y e a r (o p tio n a l) s c h o o l-h o u se b o n d s r eg iste re d
b y th e S t a t e C o m p tro ller o n J u ly 24 (V . 8 9 , p . 3 0 4 ), $ 1 0 ,0 0 0
h a v e b e e n d isp o se d o f th r o u g h a b a n k o f F o r t W o r th to
c itiz e n s o f t h a t c it y a t p a r . D e n o m in a tio n $ 5 0 0 . D a t e
M ay 2 0 1 9 0 9 . I n t e r e s t a n n u a lly o n A p ril 10 .

Solano County (P. O. Fairfield), Cal.— Bonds Voted. — T h e
p r o p o s itio n to issu e th e $ 2 5 0 ,0 0 0 5 % 1 -2 5 -y ea r (se ria l) c o u r t­
h o u se b o n d s m e n tio n e d in V . 8 9 , p . 6 1 6 , ca rried b y a v o t e
o f 1 ,4 6 9 to 5 6 5 a t t h e e le c tio n h e ld S e p t . 18.
Bonds Defeated. — O n th e sa m e d a y ( S e p t . 18) th e v o te r s
d e fe a te d th e p r o p o s itio n to issu e th e $ 5 0 ,0 0 0 b r a n c h -c o u n ty ja il b o n d s . T h e v o t e w a s 1 ,1 2 9 “ fo r ” to 8 6 6 “ a g a in s t ” ,
a tw o -th ir d s m a jo r ity b e in g req u ire d .

South Haven, Mich.— Bonds Voted. — A t a n e le c tio n h e ld
S e p t . 27 t h e v o te r s fa v o r e d th e issu a n c e o f $ 2 0 ,0 0 0 riv erim p r o v e m e n t b o n d s . V o te is r ep o rte d 4 9 5 to 19.
Springfield, Hampden County, Mass.— Bond Offering .—
P r o p o sa ls w ill b e r e c e iv e d u n til 12 m . O c t. 12 b y E . T . T if f t ,
C ity T r ea su r er , for th e fo llo w in g g o ld b o n d s:
$600,000 3

coupon o r registered (Interchangeable) m unicipal-building
bonds. D ate N ov. 1 1909. In te re s t sem i-annually on
coupon bonds a t th e F irst N ational B ank of B oston, on
registered bonds a t th e C ity T reasu rer's office. M aturity
$15,000 y early on N ov. 1 from 1910 to 1949, Inclusive.
200.000 4% coupon N o rth S t. extension bonds. D ate O ct. 1 1909. In ­
te re st sem i-annually a t th e C ity T reasu rer’s office. M atur,
„„„
lty *20,000 yearly on O ct. 1 from 1910 to 1919, Inclusive.
100.000 4% coupon Lincoln Shcool bonds. D ate O ct. 1 1909. In te re st
sem i-annually a t th e C ity T rea su re r’s office. M atu rity
$5,000 yearly on O ct. 1 from 1910 to 1929, Inclusive.
D cnQm lnatlon $1,000. Bonds are e x em p t from ta x a tio n In M assachu­
se tts. Coupon bonds will be certified as to genuineness by th e C ity T ru st
Co. of B oston, a n d th e legality of all th e Issues will be ap p ro v ed by S torey,
T hornd ik e, P alm er & T h a y e r of B oston. Certified check for 1% of bonds
bid for. payable to th e C ity of Springfield, Is req u ired . P u rch aser to p ay
accrued In terest.

The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Springfield, Ohio.— Bond Sale.— T h e $ 7 ,5 3 8 5 0 5 % 1 -5 y e a r (seria l) c o u p o n se w e r a s s e s s m e n t b o n d s o ffered o n S e p t . 2 8
a n d d e sc r ib ed in V . 8 9 , p . 7 9 8 , w ere a w a r d e d , it is s t a t e d ,
to B r ee d & H a rr iso n o f C in c in n a ti for $ 7 ,6 4 4 7 9 , th e p rice
th u s b e in g 1 0 1 .4 0 9 .
m

Stevens County (P. O. Colville), Wash.— Bond Offering.—

P r o p o sa ls w ill b e r e c e iv e d u n til 10 a . m . O c t. 16 b y th e B o a r d
o f C o u n ty C o m m issio n er s, L . E . J e s s e p h , A u d ito r a n d C lerk,
a t th e C o u n ty T r e a s u r e r ’s o ffic e , fo r $ 2 0 0 ,0 0 0 c o u p o n fu n d in g
b o n d s a t n o t e x c e e d in g 5 % in te r e s t.
A u th o rity , election held S ep t. 7 1909. D enom ination $500 o r $1,000.
M atu rity 20 y e ars, su b jec t to call a fte r 10 y ears. “ Bidders are required
to nam e th e price a t w hich th e y will furnish said bonds a n d furnish th e
lithographed b lank bonds an d p ay th e expense of th e exchange th e re fo r.”
Certified check for $1,000 Is req u ired . These securities tak e th e place of
th e $219,500 bonds sold on M ay 14 to th e Trow bridge & N Iver Co. of Chi­
cago, th e aw ard of w hich was su b seq u en tly rescinded. See V. 89, p. 366.

Superior, Douglas County, W is .—Bond Sale.— T h is c it y
h a s d isp o se d o f $ 9 5 9 92 G a m cw ell F ire A la rm b o n d s d u e
$ 4 7 9 9 6 o n M ay 17 in e a c h of th e y e a r s 191 0 a n d 1911.
Syracuse, N. Y .—Bond Sale. — O n S e p t. 28 th e th ree issu e s
° f 4 H % r eg iste re d b o n d s , a g g r e g a tin g $ 1 5 7 ,0 0 0 , d e sc r ib ed




g r a d e s t r e e t s , a n d $ 7 6 ,7 0 0 to r efu n d te m p o r a r y im p r o v e m e n t
c e r tific a te s . T h e tw o fir s t-m e n tio n e d issu e s w ill b e r e g iste r e d
in fo r m , w h ile th e la s t-m e n tio n e d is s u e w ill b e c o u p o n or
r e g iste r e d , a s d e sir ed b y th e h o ld e r .
D enom ination $100 or m ultiples thereof. In te re s t sem i-annually a t th e
C ity T reasu rer's office. M atu rity te n years.

Tupper Lake, Franklin County, N. Y .—Bond Sale.— O n
S e p t. 27 th e $ 5 ,0 0 0 5 -1 4 -y e a r (se ria l) m a c a d a m road b o n d s
a n d th e $ 4 ,0 0 0 5 -1 2 -y e a r (se ria l) r o a d -b u ild in g m a c h in e r y
b o n d s d e sc r ib ed in V . 8 9 , p . 7 9 8 , w ere a w a r d e d a s 4J^s to
I s a a c W . S h errill o f P o u g h k e e p s ie for $ 9 ,0 1 2 ( 1 0 0 .1 3 3 ) , a c ­
cru ed in te r e s t a n d b la n k b o n d s . E d m u n d S e y m o u r & C o. o f
N e w Y o r k C ity offered to p a y $ 9 ,0 0 3 50 a n d fu r n ish b la n k
b o n d s fo r 4 j ^ s .
Twin Falls, Twin Falls County, Idaho.— Bond Offering .—
P r o p o sa ls w ill b e r e c e iv e d u n til 8 p . m . O c t. 4 b y S tu a r t H .
T a y lo r , C ity C lerk , for $ 3 5 ,0 0 0 p a v in g a n d $ 5 ,0 0 0 s e w e r -e x ­
te n s io n c o u p o n b o n d s v o t e d o n A u g . 2 4 .
D enom ination $1,000. D ate O ct. 1 1909. In te re s t (rate n o t to exceed
6% ) J a n . 1 and Ju ly 1. M atu rity O ct. 1 1929, su b jec t to call a fte r O ct. 1
1919. Certified check for $1,000, p yaable to W . E . N ixon, C ity T reasu rer,
Is required.

Wadsworth, Medina County, Ohio.— Bond Offering. — P ro ­
p o s a ls w ill b e r e c e iv e d u n til 12 in . O ct. 14 b y L o u is F . A lle n ,
V illa g e C lerk , for th e fo llo w in g 5 % c o u p o n s a n ita r y d is tr ic t
se w e r -c o n s tr u c tio n b o n d s:
$8,000 d istric t No. 1 (assessm ent) bonds. D enom ination $500. M atu rity
A a ^ follows: $1,500 In each of the years 1910, 1911 and
1912, $2,000 in 1013 an d $1,500 In 1914.
550 d istric t No. 1 (corporation’s portion) bonds. D enom ination $100,
except one bond of $150. M atu rity on Sept. 1 as follows: $100
y early from 1910 to 1913, Inclusive, and $150 In 1914.
9.000 d istric t No. 2 (assessm ent) bonds. D enom ination $500. M atu rity
$1,500 yearly on S ep t. 1 from 1910 to 1913, Inclusive, an d $3,000 in
1914.
610 d istric t No. 2 (corporation’s portion) bonds. D enom ination $100,
except one bond of $210. M aturity $100 y early on S ept. 1 from
1910 to 1913, Inclusive, a nd $210 S ept. 1 1914.
8.000 d istric t No. 3 (assessm ent) bonds. D enom ination $500. M atu rity
on S ep t. 1 as follows: $2,000 In each of th e years 1910, 1911 an d
1912 and $1,000 In each of th e years 1913 an d 1914.
610 d istric t No. 3 (corporation’s portion) bonds. D enom ination $100,
e xcept one bond of $210. M atu rity $100 yearly on S ept. 1 from
1910 to 1913, Inclusive, an d $210 Sept. 1 1914.
A u th o rity Section 95, M unicipal Code, and Section 2835, Revised S ta t­
u te s. D ate J u ly 1 1909. In te re s t sem i-annually a t the Village T reasu rer’s
office. JPotlds a re n o t tax ab le. Certified check for $200, payable to the
Village tre a s u r e r , Is required w ith bids for each Issue. P urchaser to fu r­
nish blank bonds. B onded d e b t, Including these Issues, $98,650. No
lloatlng d e b t. Assessed valu atio n 1909, $1,066,000.

Wakeeney, Trego County, Kan.— Bond Sale. — O n S e p t. 22
a n issu e o f $ 1 0 ,0 0 0 5% 1 0 -2 0 -y ea r (o p tio n a l) c o u p o n e le c tr ic lig h t b o n d s w a s a w a r d e d to R . C. W ilso n P r e s id e n t o f th e
W a k e e n e y S t a t e B a n k , a t p a r.
A u th o rity , C hapter 101, Session Laws 1905. D enom ination $500.
D ate A ug. 9 1909. In te re st sem i-annually In T opeka o r in New York.

Warren, Trumbull County, Ohio.— Bond Election Re­
scinded. — I t is s t a t e d in lo ca l p a p er s t h a t t h e e le c tio n w h ic h
w a s to b e h e ld O ct. 9 to v o t e o n th e issu a n c e o f $ 2 5 0 ,0 0 0
b o n d s for a m u n ic ip a l w a te r -w o r k s s y s t e m h a s b e e n c a lle d
off. I t is sa id t h a t a d e fe c t w a s d is c o v e r e d in th e e le c tio n
p r o c la m a tio n , j 1 <■* 1 » i .i J i? 1 4 4 4 i A i
4
Watertown, W is. — Bond Sale. — T h e fo llo w in g 4 % b o n d s
h a v e b e e n sold :
., . ,
jflS l si *

311,000

sewer bonds d u e $1,000 y early on J u ly 15 from 1910 to 1920 lnclu"

10.000 w ater-w orks bonds due $1,000 y early on Ju ly 15 from 1910 to
1919 Inclusive.
24.000 s c h . 1 b .u d s d u e p a rt y e arly cn J a n . 15 from 1911 to 1926 in ­
clusive.
_
2,000 school bonds due J a n . 15 1927.
In terest J a n u a ry an d J u ly a t th e C ity T rea su re r’s office. Honds are
ta x -e x e m p t.

D enom ination $1,000. D ate S ep t. 1 1909. In te re s t sem i-annually In
S t. Louis. M aturity p a rt yearly on S ept. 1 from 1915 to 1029 inclusive.
T o tal d e b t, this Issue.

Wilmington, Clinton County, Ohio;— Bond Offering. — Pro­
posals will be received until 12 m. Oct. 8 by Frank Babb,
Village Clerk, for $10,000 4% coupon street-improvement
bonds.

W a v e r ly , P ik e C o u n ty , O h io .— Bonds Voted.— A p r o p o si­
tio n to is s u e $ 3 5 ,0 0 0 w a te r -w o r k s b o n d s carried b y a v o t e of
2 4 9 “ fo r ” to 7 2 “ a g a in s t ” a t a n e le c tio n h e ld S e p t . 27 1 9 0 9 .
W e a th e r fo r d , O k la .— Price Paid for Bonds.— W e a re a d ­
v is e d t h a t t h e p r ice p a id fo r th e $ 1 0 0 ,0 0 0 6% se w e r, w a te r ,
lig h t a n d c it y - h a ll b o n d s a w a r d e d r e c e n tly to J o h n N u v e e n
& C o. o f C h ic a g o (V . 8 9 , p . 7 9 9 ) w a s 1 0 3 .3 7 5 .

A u th o rity Section 2835, R evised S ta tu te s . D enom ination $500. D ate
Aug. 1 1909. In te re s t sem i-annual. M atu rity $500 on M arch 1 1911,
$1,000 on S ept. 1 1911 and M arch 1 1912, $1,500 S ept. 1 1012 and $500
each six m o n th s from M arch 1 1913 to S ept. 1 1918 inclusive. Bonds are
e x em p t from all tax es. Certified check for 10% of bonds bid for, payable
to th e Village T reasurer, Is req u ired . P u rch aser to p a y accrued Interest.

w ill b e r e c e iv e d b y F r a n k C. V a n H o r n , P r e sid e n t S c h o o l
B o a r d , for $ 3 ,0 0 0 5 % c o u p o n s c h o o l-im p r o v e m e n t b o n d s .

D enom ination $1,000. D ate O ct. 11 1909. In te re st on M arch 1 and
S ep t. 1 a t the C ounty T rea su re r's orilce. M aturity $5,000 each six m onths
from M arch 1 1910 to S ep t. 1 1914 Inclusive. Certified check fo r $1,000
on a b a n k In Bowling G reen Is required. P urchaser to pay accrued Interest.

Winston, Forsyth County, No. Caro.—Bond Election .—
An election will be held on Oct. 12 to vote upon a proposition
to issue $140,000 coupon refunding bonds at not exceeding
D enom ination $1,000.
D ate S ep t. 1 1909.
In te re s t sem i-annual. 5% interest.
Interest semi-annual. Maturity 30 years.
M atu rity S ep t. 1 1934.
W e llin g t o n I n d e p e n d e n t S c h o o l D is t r ic t ( P . O. W e llin g ­
Woodbury County (P. O. Sioux City), Iow a.— Bond Sale.
t o n ) , C o llin g s w o r th C o u n ty , T e x .— Bonds Registered.— —This county has sold $22,000 5% bridge bonds dated
B o n d s to t h e a m o u n t of $ 7 ,2 0 0 w ere r e g iste r e d o n S e p t. 24 May 1 1909 and due Nov. 1 1910.
b y th e S t a t e C o m p tro ller . T h e y carry 5% in te r e s t a n d
Wood County (P. O. Bowling Green), Ohio.— Bond Offer­
m a tu r e in 2 0 y e a r s , b u t are s u b je c t to call a fte r 10 y e a r s .
in g .— Proposals will be received until 11 a. m. Oct. 4 by the
W e s tb r o o k I n d e p e n d e n t S c h o o l D is t r ic t ( P . O . W e s t ­ County Commissioners for $50,000 5% coupon highwayb r o o k ), M itc h e ll C o u n ty , T e x .— Bond Offering.— P r o p o sa ls improvement fund bonds.
D enom ination $100. D ate Aug. 1 1909. In te re st an n u ally a t the
S ta te T rea su re r's office. M atu rity 10 years, su b jec t to call, how ever, le forc th a t d a te . Certified check for $100, payable to th e President of the
School H oard, 13 req u ired . T he d istric t has no d e b t a t p resen t. Assessed
v alu atio n 1909. $400,000.

W h ite P la in s , N . Y .—Bond Offering.— P ro p o sa ls w ill bo
r e c e iv e d u n til 8 p . m . O c t. 12 b y th e B o a r d o f V illa g e T r u s te e s
F r e d e r ic S . B a r n u m , P r e s id e n t, a n d E a rl P. H ite , C lerk , for
$ 3 3 ,0 0 0 4

yfflo

ta x - d e f ic ie n c y b o n d s .

In addition to the above, proposals will also be received
until 11 a. m. Oct. 11 by the County Commissioners for
$50,000 5% coupon highway-improvement fund bonds.
D enom ination $1,000. D ate O ct. 15 1009. In te re s t on M arch 1 and
Sept 1 a t the C ounty T rea su re r’s olflcc. M atu rity $6,000 each six m onths
from M arch 1 1910 to S ept. 1 1914 Inclusive. CcrtMod check for $1,000
on a b a n k In Bowling G reen Is required. Official circular s ta te s there
has n e v er b e en an y d efault In th e p a y m e n t of 'principal or In terest. P u r­
chaser to pay accrued In terest. F. U’. T oan Is C ounty A uditor.

Woodward School District No. 1 (P. O. Woodward),
Woodward County, Okla.—Bond Offering .— Proposals will be
The official notice of this bond offering will be found among received until Oct. 5 by H. It. Kent, District Treasurer, for
$70,000 5% coupon school bonds.

D enom ination $1,000. D ate O ct. 1 1909. In te re s t sem i an n u al. Ma­
tu rity O ct. l 1917. C ertified check on a S ta te o r n atio n al b ank or tru s t
com pany for !>% of bid Is req u ired .

the advertisements elsewhere in this Department.

W h ite a n d C a ch e R iv e r s L e v e e D is t r ic t , W o o d r u ff C o u n ty ,
A r k . — Bond Sale.— T h e W illia m R . C o m p to n B o n d & M ort­
g a g e C o. o f S t . L o u is h a s p u rc h a sed $ 1 0 0 ,0 0 0 6% b o n d s .
NEW

A u th o rity Section 26, Article 10. C o nstitution of O klahom a. D ate
O ct. 5 1909. D enom ination $1,000. In te re st sem i-annually a t the
Used agency In New Y ork C ity. M aturity 25 years. Certified cheek
for 1 % of Issue, p ayable to the D istrict T reasu rer, is required. T o tal
d e b t. Including this Issue, $82,000. Assessed valuation $2,086,000.
NEW

LO A N S.

8 3 0 ,0 0 0

$ 9 0 0 ,0 0 0

C IT Y

OF

S P R IN G F IE L D ,

LOANS

C O R N IN G . N. Y .

M A S S .,

Coupon and Registered Gold Serial
314% AND 4 % BONDS
$100,000
C ITY T R E A S U R E R 'S O F F I C E .O ct. 1.1909.
In pursuance of orders of th e C ity Council,
LINCOLN SCHOOL LOAN, 1909
app ro v ed by th e M ayor, th e undersigned, tre a s ­
T he bonds for this loan will be d a te d O cto­
urer of th e C ity of Sprlnglleld, will ^ ° ,!L e
b er 1st, 1909, and will be p ayable in an n u al
tw elve o ’clock M ., T U E SD A Y , O C T O B E R T 2 . p ro p o rtio n ate paym ents of five thousand dollars
1909, sealed proposals for th e following described ($5,000) each, beginning w ith O ctober 1, 1910,
bonds:
w hen th e ilrst p a y m e n t shall be due, u n til O cto­
$600,000
b e r 1, 1929, w hen th e la st p a y m e n t shall be m ade.
Said bonds will b e ar Interest a t the ra te of four
SPRINGFIELD MUNICIPAL BUILDING LOAN
p er c en t (4% ) per a n n u m , payable sem i-annually
Act of 1909.
on the Ilrst days of A pril and O ctober of each year.
T h e bonds for this loan will bo d a te d N ovem ­
This loan will be Issued In registered bonds of
ber 1st, 1909, a n d will be p ay ab le In an n u al p ro ­ one thousand dollars ($1,000) each or any m ultiple
po rtio n ate p a y m e n ts of fifteen thousand dollars thereof, th e principal and In te re st being m ade
($15,000) each, beginning w ith N ovem ber 1. payable a t the City T rea su re r’s Office.
1 9 1 0 , when th e first p a y m e n t shall be due, until
N ovem ber 1, 1949, w hen th e la st p a y m e n t shall
B oth th e principal and in te re st on all of the
he m ade.
.
.
,
Said honds will b ear In terest a t th e ra te or above loans will be payable In Gold Coin of the
th re e an d one-half p er cen t (a '4% ) per a n n u m , U nited S ta te s of A m erica of th e present stan d a rd
payable sem i-annually on th e first days of May of w eight and Oneness or Its e q u ivalent.
and N ovem ber of each year.
The C ity T rea su re r now tra n sm its by mail
This loan will be Issued In e ith e r coupon bonds
of one th o u san d dollars ($1,000) each, w ith In terest on all registered bonds.
These honds a re exem pt from ta x a tio n In
in te re st w a rra n ts a tta c h e d , both principal anu
In terest being m ade p ay ab le a t th e F irst N ational M assachusetts.
B ank, B oston, M assachusetts: o r In registered
The coupon bonds will be certillcd as to th e ir
bonds of ono th o u san d dollars ($1,000) each or genuineness by the C ity T ru st C om pany of
a n y m ultiple th ereof, the principal an d In terest Boston, an d the legality of all th e Issues will be
being m ade p ay ab le a t th e C ity T reasu rer s Office. approved by Messrs. S torey, T h orndike, P alm er
H olders of coupon honds m ay a t a n y tim e more & T hayer.
th a n one y e a r beforo m a tu rity exchange sam e for
Proposals m ust Include accrued In terest to d a te
registered bonds.
of delivery of bonds, a nd m ust be accom panied
$200,000
by a certillcd bank check for one p er cent (1% )
NORTH STREET EXTENSION LOAN. 1909
of th e am o u n t of loan bid for, m ade payable
T he bonds for this loan will bo d a te d O ctober 1, to the City of Springfield.
1909, and will be p ayable In an n u al pro p o rtio n ate
All proposals will be opened In th e M ayor’s
pay m en ts of tw e n ty tho u san d dollars ($20,000) Office T u esday, O ctober 12, 1909, a t tw elve
each, beginning w ith O ctober 1, 1910, when th e o ’clock M., and th e right Is reserved to reject
Ilrst p a y m e n t sh all be du e, u n til O ctober 1, 1919, an y o r all bids.
when the la st p a y m e n t shall be made.
A ddress proposals to the undersigned, indorsed
Said honds will b ear In terest a t th e rate of four
p er cen t (4% ) p er an n u m , payable sem i-annually “ Proposals for Sundry Loans, 1909.’’
Descriptive Circular Sent On Application.
on th e Ilrst days of April an d O ctober of each y ear.
This loan will be Issued In registered bonds of
E L IP H A L E T T . T I F F T ,
one thousand dollars ($1,000) each o r an y m ultiple
C ity T reasurer.
thereof, th e principal an d In terest being m ade
Springfield, Mass.
payable a t th e C ity T reasu rer’s Office,

SCHOOL BONDS
The B oard of E ducation of the Vlllago (now
City) of Corning, New York, will receive an d
open a t 4:30 P . M., O C TO BER F IF T H , 1909,
hlds for th irty $1,000 bonds d a te d Septem ber
first, 1909, principal a nd Interest payable a t th e
K nickerbocker T ru st Co. In the C ity of New
Y ork, authorized b y resolution of the B oard
J u ly n in th , 1909. These bonds will bear 4%
Interest, payable sem i-annually on the Ilrst days
of March and Septem ber In each year. Two of
said bonds become due and payable ann u ally on
M arch Ilrst from 1911 to 1925 Inclusive. B ids
m ust be accom panied w ith a certified cheque,
w hich will be re tu rn e d to unsuccessful bidders,
for 3% of the p a r value of the bid. The B oard
reserves the rig h t to reject an y and all bids.
By order of the Board of E ducation.
Corning, N. Y ., S eptem ber 21, 1909.
L E IG H R . H U N T , Secretary.

Biodget, Merritt & Co.
BANKERS
STATE, C IT Y
AND

R A IL R O A D BONDS
60 State Street,

-

Boston

30 Pine Street, - New York

ESTABLISHED 1885

H. C. Speer 6c Sons Co.
First Nat. Hank B ld g , Chicago
C IT Y , C O U N T Y
A N D SCH O O L b o n d

s

& COM PANY Charles M. Smith & Co.
P. J. G00DHART & CO., McCOY
Formerly MaoDonald, M0C0 7 & Co
C O R P O R A TIO N AN D

lta iilio rg

37 B R O A D W A Y
N E W Y()
Telephone 2240 Rector
3'£ti W». l o u t S t . , C i n