The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
. . 1 , 1 . , ,1 finanrta INCLUDING Bank and and City Section (semi- Annually) Street Railway Section (^^4S^''); Qiiotation Section (MontMy) State Railway and Industrial Section (Quarterly) Entered according to Act of Oonsrress, A in the year 1904, by Willi a.m weefely newspaper entered ut Post OflBce, VOL. New B. Dana Compant, SATURDAY, OCTOBER 79. in the office of Librarian of Oon;^ess, Washington, D. Dana Compant, Publishers, 7ri>^ Pine St„ N. T. C, York, as secotid-class matter— William B. 22, NO. 1904. it'ce/c CUaHngs at— 1904 2052. ending October 15 1903. 1901. 1902. "&c"' PUBLISHED WEEKLY. Terms Subscription— Payable in Adrance ot For One Tear For Six Months Boston Providence Hartford $10 00 6 00 13 00 7 50 European Subscription (including postage) Kuxopean SubscnptSon Six Months (including postage) Annual Subscription in London (including postage) Six Months Subscription i?j London (including postage) £2 £1 — New Haven_ Sprinsfleld Worcester , Portland Fall River Lowell New Bedford 14s. lis. — Hubscription includes following Sections Statk and City (semi-annually) Bank and QnoTAXioN (monthly) RAILWAY AND Industrlal (quarterly) Stbeet Kailway (3 tunes yearly) Holyoke I Total New England. 139.038,414 8,724,600 2,717.454 1,849,560 1.589,165 1,475,801 1,801,771 667,888 542,608 580,918 491,456 188.400,851 6,632,300 2.555.606 1,761,303 1.528,56' 1.538.959 159,429,035 156.568,452 -fl-8 187,415,605 23,423.850 13,238.412 11.024,054 8.600,951 6,701.612 4,759,800 3,806,494 3,130.883 2,029,575 185 675,641 21,550,000 -f-0-9 -fO-5 -t-31-5 Advertising ot Transient matter per inch —Per Space Incli Chicago CI ncinnati (14 agate lines) Two Months (8 times) Three Mouths (13 times) Six Months (26tune8) Twelve Months (52 times) i 20 22 00 2Si UO 50 00 87 00 .«ipace .?4 LONDON AGENTS: Edwards & Messrs. scriptious each. Detroit Milwaukee Indiaaapolis , , Toledo , Peoria Grand Rapids Dayton Smith, 1 I^rapers' Gardens, E. C, will take sub of the paper at Is. COMPANY, Evansville Akron Publishers, Springfield, III Youngstown Kalamazoo Pjne Street, Corner of Pearl Street, Box » >S. NEW YORK. Office , Columbus and advertisements, and supply single copies WIL,L,IA»I B. DAINA Post Cleveland -4 1,601, ,865 Lexington Canton Rockford Springtleld. CLEARING HOUSE RETURNS. O Bloomington Quincy Decatur The following table, made up by telegraph, etc., indicates Mansfield Jacksonville that the total bank clearings of all the clearing houses of the Jackson United States for the week ending to-day, Oct, 22, have Ann Arbor Total Mid. Western been §2,912,049,161, against $2,449,157,985 last week and -)-3-2 -f4'9 -1-121 week 12,015,597,812 the corresponding San Francisco last year. Los Angeles CUarams— lletnr ns uy 'ielewnph. Week Kntlin'i Cctober 22 1904. New York Si ,594,279,778 122,358,294 115,174,445 21,263,373 186,818.369 50,971,879 16,246.792 i2,107, 11 2.830 *1,4(J5,51 5,951 Philadelphia Baltimore Chicago St. Louis New Orleans Total The all cities Tacoma -I-13-4 Helena +28-1 Fargo Sioux Falls Total PaciBc. -J-27-6 4-18-4 +499 318,008,647 305,097.862 +4-2 $2,125,121,477 $1,710.613 813 -fll-b 486,927,68-1 304,983,9119 •+-51-0 for week.. f2,912,019,161 5>2,015.59T.hl2 -t-44-5 Omaha St. St. Paul Joseph Denver Des Moines Sioux City week covered by the above will be We cannot furnish them to-day, clear- Topeka Davenport Wichita Colorado Springs... Birmingham per cent. Knoxvllle U luo:>. ILC. I Dec. I Pbllndelphta.. .. 630 1,125 4.">9, 183 19.002 4Uh 108.709.944 1 42,092,167 28,497,470 6.516.117 BHllliiuire Buffalo Washiuxton Albany 4,2i)2,No(; 4.22.) 9«4 K(»che.sier HCFHIltOIl 3,213,(l.-.4 44, .567, 927 26.'<;82,24U 6,427,467 4,329.554 3.769,813 2,651.371 tr-t —2-9 23.,58l.367 6.457, lil4 +121 3,802.069 3,623 l:i7 •4-22 -3 2,,558,878 — 5'6 1.600,000 1 ,342 3.H7 Wllmirmton 1.022..')37 Wilkes llarre 1,694 327 1,299.626 I.259.HS3 l,016.3'l.'-, 9.«),907 774,416 — rl HV(),157 o-s -f7-9 46l,2H<i -f3-.', -18> -I-9-2 (ireerml)urif 423 400 397 V,hf Chester 472.702 Erie 775.501 426.600 368.295 492,530 r>H6.9<;u 47 4.691 250,4,59 -f23-6 1H3.60(J -(-39-7 .., . Ifrnnklin, Pa....! Reading Total .MUlille. MH3f)3S Not .7 ln<-lii(1- 31,541.108 1,330, l«3,0.'>8 — -4-1 (1 ii, 201,214 1 ,,337,309 107,615, 210 -I-29-0 -f2-l —13-8 -1-18-5 —3-4 -f64 —28-3 -I-22-6 -2-9 167.335.169 21,662.850 16.314.530 9.869.852 8.204.944 5.823,756 4.180.050 2.970.852 2.997.433 1,870.44b 1,651,338 911,668 767,700 600,880 570,193 570,940 514,925 476.074 361 .642 359,924 392,510 271,589 233,313 214.418 179,926 loO.OOO 164,059,320 155,913.495 18,418.700 13.650,868, 13.457.519i 6.845.039, 4,3:30.766 3.994,200 2,484,610; 2,391,988! 1,340,399 l,S15,065i 851,971 6:J9,000 632.674 512,147 500.806' 490,8851 388.4521 398.236. :301.38l 288,393- 274.755 63,000; 153,303! 102..S07 155,518 89.901 229,854,269 35,001 .536 6,362. 24 5,159 ,55 33,951,65 6,554,556 4,884-514 3,178,921 27,788,2781 3,681,610! 4,115.817 4,178,257; 3,206.193 1,374,446 2,027 ,882 82,617,620 5,460,265 5.204.615 4,086.105 4.327.710 2,350.468 1,800,000 394, 93-i 640.623 650.000 360.160 615,403 345.925 568.913 516 241 280.443 63,236, ,28!i 59,505.560 57.333.483 46,978,063 23.768,560 23.285,580 8,640,859 26.452,84( 19,310,288 7,980,549 6,266,b54 19,257,299 17,655 456 6.972.550 2,281,840 23,697,169 21,894.703 8,102,506 6,784.075 5,030,042 3,000 1)00 2,099,577 1,371 ,878 1,624.161 1,466,225 -(-5-5 4,674.811 2.584.4:36 1,2.17,861, 526,36ti 3.225.(;7:. 2,204.2:!,' .viontreal 1.279,Mi;',. Winnipeg 321 74.H.0M, 345.,MI". ;kt2,60(i • 416.75; 388.351 342,706 618 1,705.02,'^ 901,86 998 7 12.5,55 018.201 591.055 158,929 374 338 180,1 .Vot include I50:> 5,43:3.106 4,772,480 5.768,513 1,669.701 1,641.315, 1,246.081 997.101 443.721 863,860 136,713 77.152,825 -t-2-8 78,146.073 66,857,908 59,412,774 18,545.984 10.628,154 8,080.839 5,906.000 4.853,54^ 6,618,748 6,476,040 4,462.240 2,914.500 2,189.837 2,102.361 1.469.911 52,813,599 -I-12-5 51.049.376 13.826.724 46,764,866 13.944,484 —3-4 40ii —13-4 19,.593,880 10,585,511 9,555.939 5,74K,500 4,483,795 5,514,489 9.838,:!32 8.,52 8,604.788 4,401,500 7,394.706 4-2-' 1,562 .5,2.54,000 +H-i 4.4:17,091 - -20-0 4,290,074 4.9.S4.183 - -299 5,:tN8.49:; 4,112.534 5,347.810 3.704.304 3.820.287 2,418.168 1,725,305 793,964 ,3.381.777 2.041.179 1.542 965 1.639.717 1.7,sO,3:36, 1,110,7.39 --16-8 - -20 5 - -26-9 --14(1 - -32-3 1,095.705 -I-6-3 1,834,741 ;i. 2,20il,l.'<4 1,100,59(1 9.il,424 8,194,0.85 — 8-6 + 164 2,2iK),914 1.4,)0.:32H 899,707: 67:3,933 2.4:13.275 914.3.34 l,i62,i;s:; 998.218 1,479,54(1 1.403.084 1,066,000 +5-4 -20-6 1,121.000 759,4.56 +5-.' (>60,00(l 024,700 864,326 352,800 15(1 142.105,7:^:. 1,189.86 856.0(16 res not aval labic. + 13-(i 796,624 ,Vr>t roronio Iliilifax 1 iitawa ',iii(>ber \ Include 32,548,167 2,449,157.9S.'' 2 027,395.485 .1 III to nl. + 7-. +20 120,102 714 8 2 602.494. !VM'.> +3-5 109.854.419 223.641 M41 933,290,3JJ 901.930.312 24.509.079 20.138.870 5,94007;; 1,802,920 2,077.926 20,427.107 •f200 23,748,65 i;i,95l,521 -|-44:t ia.7,"j:i797 4,612.017 4,142.102 !t.24 1.52:1.131 1,917.216 -h29(l +5-:. 4 8 3 1.609,,H37 1.91 I,,881 1.990 l.l48,7hl 1,047.416 + 14 1.69,H.5;i8 anooiiver 1, .567.757 Hamilton ^t. John London 1. Total Canada 196. 275 1.040.604 802 327 . i tal. 79,288,741; 900,141 424,017 Victoria l..')2:l .5,040,2,82 8Bl.32U,7&3 U03,U12.V31 Canada— 1.350,25,. 1,342.571 775 4.6,55.695 219,37i: Weekly Hgu Total Southern Total all Outside New York. I 22.555.: ;ii,. 7.054, 1,">. 2,855. |. J. 7.)r),.54.J 6.569.35; 4,552.547 5,030,211 2,349,641 1,444.86V 971,8tn 987,931 1,029.095 438,871 Inoksonvlllfi Columbus, (}* l.3.")h.M5i 1,933.130 9,52 -f9-9 —16-4 900.208 588,900 448.309 317.522 1-,' 34.162.2."! In -t-30-2 —1-2 060 —7-5 —5-5 -35-4 582,502 506.450 396,572 164.228,611 249.552.729 'haftanooga l,::4t,9l2 1 407,:^24 —45 104.22' 846.2 IVi 798,770 ISeaiimont SyrHciine Wbee.iiiu Ulnuliuiuion 1901. I +34-7 1.721,164,799 +9-4 12,5,008,1146 -5-6 40,3:19.2,58 5I.'5,867 Pittstmrifh 1902. ('harleston .Mhcoh % * New York in — 19-9 —0-8 1.740,773, 1,570,266 1,192.526 271.426,933 110,000 1.164,32!i 2,09:1,071 Augusta Little Rock cek endiTVj (ictober 15 aV— -f7-2 -fl6-l 1,.553,813 273,357,076 718 lOti Kansas City +4-1 full details for the UleaTiivjs -I-16-0 8,277.808 3,157.282 2.125,373 1,820,867 1,243,966 791,600 1,065,711 600,691 702,286 535,958 558,877 474,002 351,417 275,225 292,392 214,703 154,500 3,081, 977 2,998,.261 659 .71i given next Saturday. Fiemont ings being made up by the clearing houses at noon on Satur- Cedar Rapids Total other Weat'm day, and hence in the above the last day of the week has to St. Louis in be all cases estimated, as we go to press Friday night. Orleans We present below our usual detailed figures for the previous New Louisville Houston week, covering tlie returns for the period ending with Satur- (ialveston Richmond. day noon, Oct. 15, and the results for the corresponding Savannah week in 190;], 1902 and 1901 are also given. Contrasted with .Memphis Atlanta the week of 1903 the total for the whole country shows a gain .Nashville Norfolk of 20-8 per cent. Outside of New York the increase over 1903 I'ort Worth is 'd'o -91 143,794,473 8.926.900 2,518,596 1,633,370 -)-16-9 5 days. Iday All cities, +64-4 -i-5-1 4,4.38,100 150.00( 3,156 960 5.700, 000 Portland Spokane iMinneapolis Seven cities, 6 days, other cities. 5 days all cities, P. Cent. »970,019.08l 107,853,019 89.894,820 20,692.250 157,852.578 43.593.296 15.610,907 Boston Total 1903. Seattle Salt Lake City.. -+8-7 — 14-6 15,495,699 10.491,559 9,457.066 5,776,619 263.25f- 1.939,6ti8 — 438,048 .385 l,9U.36:i 1.774.303 1 997.394 1 -fl2-5 35-3 1,031,102 525.786 553,975 1,683.261 1,175,405 511,500 853,816 502,223 905,708 547,204 481.148 561,790 412,369 423,267 342,368 292,810 209.713 2,74:3,174 -f0 7 | Terms 142,483,059 8,699.600 -I-6-3 -I-5-0 l,7l2.6.s.'i 793,977 843.6'<8 61,067.406 48 621,100 1 ,7VS ],\'M (IS,'. 1.002,042 l.:io8,,76;i 2 15 3 942 679 tHH.^97 811,,473 829,,787 -J-21-:) 677.':46 l.:i2 902.719 735 9N2 l,r)87,2N9 ir.,917,,810 13.4.5<V,44fl + —5-9 +20-8 1,025,,120 987 -12,! i,2» 61.800.312 40,824.»dB 5lil — THE CHRONICLE. IG7() THE FINANCIAL SITUATION. A material rise In prices eign ports the for wheat movement of current month from the extremely small this week and that grain to for- the Atlantic sea- fVCL. LXXIX which the wheat yield of 1904 will be consumed. As we have already passed the first quarter in of that year, figures it be of Interest to separate the will three those for months and learn how the A preliminary board have been leading features in the produce mar- fact. Indicative of the exhaustion of old stock everykot. The September report of our foreign trade where, is that the visible supply can have little or lesued by the Bureau of Statistics likewise gave the nothing further to contribute to meet demand during question of wheat outflow to Europe the current fiscal 1904 C5. This is so inasmuch as that source of holdyear fresh interfst; for it enabled the investigator to ings had been reduced on July 2, when the year fix a clear and definite limit to the surplus which the opened, to 14,066,000 bushels. With that fact in crop as now estimated will aSord the current fiscal mind, the exports during the three months from July year for export. That report we received in full by 1 to October 1 for lour years which the subjoined telegraph last Friday night through the kindness of statement presents will be instructive. Mr. Austin, the head of the Bureau, and were thereWHEAT EXrORTS FBOM JDLT 1 TO OCTOBER 1. by enabled to publish our usual compilation of 190304. 1902-03 190102. 1900-01. the export and import figures a week ago (see Wheat, bushels 553,079 16,659,708 42,099,765 61,687,057 The October 16 1904). special data representing the wheat outflow will be found to-day in our breadstufis report, page 1726. There appears to be good reason for the strong and more active demand for wheat. Referring In this column last Saturday to the Agricultural Department's that cereal first of October condition report of which, according to our Interpretation, indicated a crop In 1904 of about 651,000,000 bushels— we showed that, assuming the estimate of yield as correct and home consumption of wheat unchanged, there would be left for export out of this season's crop only 33,000,000 bnshele. We added, however, that as the market price of that grain was ruling so much higher than last year and the corn crop was so abundant, it was reasonable to expect some economy In the home use of wheat, and that hence an exportable surplus to an extent higher than the above result allowed for was possible, though the amount of the addition to the Chronicle, page 1618, distributing Flour,r6duo'dtobU8h.lO,174,513 19,316,835 20,621,839 21,253,203 10,727.592 35,976,543 62,721,604 82,940,260 Total bustels The foregoing shows the severe contraction which has been in progress since July 1 1904 in the United States' contribution to the supply of the outside Those requirements appear have become large. The leading world's wants for wheat. same time to European authority, "Bulletin des Halles" (published in the Agricultural Department "Crop Reporter") has estimated the wheat crops of the world September at the 10 1904 at 2,960,000,000 bushels against 3,193,656,- OCO In 1903. Those results are probably approximately correct. They show a deficit in the world's supply of 200,000,000 bushels. That is a large Item to make up, especially In a year beginning with old stocks reduced by the high price prevailing We year. all last no way of making good the deficit except by enforced economy in the consumption of wheat. That is see of course simply a question of price, rendered easier surplus would of course depend materially upon the than market price. The wheat exports which were given by the Bureau of Statistics last week brought forward the official fig* ares of exports so as to Include Saptember and the nine months of the calendar year. Even as they stand they are Interesting and invite study. They show that the total exports for the whole nine months of 1904 have aggregated only 9f million bushels of wheat and 9 million barrels of flour (the latter equal to 40| million bushels of wheat), or a total of wheat since January 1 1904 of 60| million bushels. That represents, as we all know, a very small movement; for the corresponding nine months in 1903 the figures of million bushels and in the exports were 116} same nine months of 1902 they were 160f million Again, as the New York Produce Exchange busheltf. visible supply table showed that the stock at our trade centers and afioat December 26 1903 (virtually om the first of January 1904) was 36,384,000 bushels and on October 1 1904 (the close of the nine months) the oorresponding stock was only 17,665,000 bushels, there Is here a loss of about 18f million bushels, which substantially went towards helping supply the 50^ million bushels of exports. That Is to say, home consumption the last nine months appears to have taken all of the supplies which have come from farmers' hands, less about 31f million bushels, the amount which such movement has opened. yield, It otherwise would be by our bountiful corn It is of Interest to know that according to "George Dornbusoh's List" the shipments from other exporters, though falling short of last year's shipments, are fairly well maintained, Russia, India and Argentina coming to the rescue of European consumers from the dearth to which oar short crop exposed them. People who are belittling^ the actual demand been such a conspicuous feature all along, as everyjone knows. A new illustration is found in the eagerness of the demand for and the rapid distribution beiog made of the 40-milllon dollar Mexican loan fioated by Messrs. Spayer & Co. and a syndicate of American and Earopean bankers. Applications of parties seeking to participate in the operation are said to have been simply overwhelming, while very large advance sales Such Incidents are clearly are also announced. In keeping with the general spirit and confidence that prevail In financial and business So circles. far as our Wall Street Exchange is concerned, without doubt there are stocks of all degrees of value moving up on the swelling tide, many of them of little or no worth. But that is always the situation when general on tne up-grade for a series of weeks. buyers know how to discriminate. investment Those matters in the main refer to the past, though throwing considerable light on the future. With the bave been taking advantage of the chances of first of July the new crop season began. The fiscal purchases offering 3 class of people who can supplies have contributed towards exports. prices are Kdal They good — year ending with June 30 for from outside parties do not, as we have often remarked, find any support or encouragement for their views in the large sales of bonds which have securities 1905 covers the period their buylngs through good and bad report. It is hold not THE CHRONICLE Oct, 22, 1904.] 1671 While the rise In the price of gold in L3ndon has perience a setback; after such an awakening as we have reduced the gold-import point at New York about had, it is an inevitable event— a means for winnowing one cent and a half per pound sterling below the normal, or to 4 83, it has at the same time correspondthe false from the true. ingly lowered the gold-export point to about 4 87; On the therefore, at the moment, exchange is really nearer Industrial affairs give no sfgn of weakness. is evident, movement it is up the as far so contrary, A furthe gold-exporting than the importing point. by the shown continued chiefly is drift ther fall in exchange at Paris, if it were accompanied ward. This and more rapid development in the iron and steel bv unsettled conditions at that centre, might easily, it In reviewing the week's changes, the "Iron would seem, cause gold exports hence to Paris as an trades. Age" of this city said yesterday that in the East arbitration operation. Towards the end of April and "there have been large sales, ajjgregating probably in May, when shipments of gold were being made to upward of 100,000 tons of basic, forge and foundry Paris for account of the Panama payment, the pig iron, which have carried values up 25 cents per movement was profltable with exchange in New "The York at 4 87 because checks at Paris on London were ton, with some makers now asking 60 cents." upshot is that pig iron markets are decidedly stronger 25 francs 11 centimes, and even lower when some of and higher." 'the "Iron Trade Kevlew" of Cleveland, the gold went forward. It would appear quite posOhio, also states that "the increased activity in the sible, therefore, that if the price >f gold in London Iron market that set in with October has continued, and should be maintained at the present high figure and anrprlslng that the market should now and then ex- in pig iron the past week has seen the highest prices of the year." This new and more pronounced development is claimed above to have had its start with October, but an improvement has been evident for three months if there should be an urgent and at the York about 4 867, at demand for gold at Paris same time a firm tone for exchange at or, say, New one cent per pound higher than current rate?, gold exports to Paris might appeared to be a natural revival in reasonably be expected. There seems, however, to consumption of iron after the marvelously sudden sas- be little probability of such movement for the reason pension which occurred almost 'concurrently with the that if there were indications of an export of gold strike in the buildings trade nearly two years ago, and hence the price of the metal in London would most followed the economy in expenditures enforced upon likely decline to such figures as would cause a reour railroads by the large increased cost in running covery in the gold-export point on London, thereby Such an extreme cessation es came to pass eliminating any profit which might otherwise result expenses. In the consumption of iron and steel could not long from arbitration operations. or more. It has With the buildings trade differences subarranged, and with our large crops and The annual reports submitted the present week of high prices for them promising enlarged business for the minor iron and steel companies, with their large prevail. stantially our carriers, it is only in accord with a reasonable expectation that the trade in iron, the basis of industries, should show material signs of all revival. shrinkage in profits, have in one sense only a reminiscent interest, since they refiect entirely past conditions. Nevertheless it is important to observe that more severely The movements in the exchanges at Continental from the depression through which the iron and steel centres on London seemed early in the week to re- industry has passed daring the last twelve months The flect even a more urgent inquiry for gold from the than the United States Steel Corporation. these minor concerns have suffered even than was the case in the previous week. Exchange at Paris on London fell on Monday to 25 francs Hi centimes and at Berlin to 20 marks 35 pfennigs, which rates, had the|price of gold in London been normal, would probably have caused shipments of the metal thence to the Continent As a further obstruction to such in some volume. movement,{however, the price of gold was advanced In London on Monday | of a penny compared with last week, to 78 shillings per ounce, which had the Paris effect of reducing the gold-import point at and Barlin to figures so far below the normal as to prevent large withdrawals of the metal from London. Oa Tuesday exchange at Paris on the British capital reacted to 25 francs 12^ centimes and at Berlin to 20 marks 35^ pfennigs. This reaction at Paris seemed to reflect less strained conditions and at Berlin an Britieh capital matter is of significance chiefly because a contrary impression has prevailed, persons not conversant with the facts having argued that the Steel Corporation, by reason of its size, was unwieldy, and could hardly be expected to attain the best results. The fiscal year of the Sbeel Corporation corresponds with the calendar year, while the report issued this week by the Bepnblic Iron months June & Steel Company covers the twelve and that of the Crucible Steel Company covers the twelve months to August 31. to 30, As, however, the Steel Corporation furnishes regular possible to make up its figures months to June 30. We find that these twelve months the net earnings of the Steel quarterly returns, it is too for the twelve for Corporation in 1903 04 were $80,396,093, as against $130,642,263 in the corresponding period of 1902-03. In amount the loss here (which however still left the company sufficient income to pay the 7 per cent dividends on its preferred stock) is obviously of great magnitude, amounting to over 50 million dollars; but easier feeling as the result of an increase of 50,220,000 marks cash by the Imperial Bank of Germany. The discount rates at those centres were, however, firm, indicating that there was no material relaxation this is simply because the totals themselves are of exin monetary tension, while the markets seemed quite traordinary magnitude. In ratio the 60 mlllioa dollars sensitive to the war news from Manchuria. At the loss is less than forty per cent of the $130,642,263 net close of the week discounts at Paris and at Berlin and reported for 1902-03. Frankfort were ^@^ of 1 per cent higher than a week Now note that the Rjpubllo Iron & Steel Company ago. There was^also a exchange at Paris on for the same period of twelve months reports profits centimes and at Berlin to 20 of only $1,306,068, against $4,123,500 In the same fall in London to 25 francs 11 marks 35 pfennigF, the lowest of the week. twelve months of the previous fiscal year. In this THE CHRONICLE. 1072 oaae, therefore, the cent. shilDkage haa been almost. 70 per aotlona were manner the Crucible Steel Company the flacal year ending August 31 1904 net In like showB for earnings of only $488,160, as against 11,522,650 in The ahrinkthe fiscal year ending August 31 1903. age in this case, too, it will be observed, Is almost 70 per cent. Week before last we also had the report of the American Steel Foundries C Jmpanv, this being for the fiscal year ending July 31. It showed net in 1903-04 of tbe all It is maturities. Qaotations were 3 per cent for day and 3^@3} per cent for three to six months on good mixed S.ockEiohange collateral. CDmmerclal paper was quiet and rates were 4@4i per cent for sixty to ninety day endoreed bills receivable, i^(^{i percent for prime and 6^@9 per cent for good four to six months' single names. sixty certainly noteworthy that in these smaller companies the reduction and 70 per cent, whereas in the case of the Steel Corporation the falling ofi has been less than 40 per cent. The report of the Republic Iron & Steel Company goes into an analysis of the causes responsible for the shrinkage ia revenues. The facts are familiar to our readers. In the early part of November 1903 the price of steel declined $6 per ton, demand for iron and steel products dlminlBhed and output was reduced nearly 40 per cent. On the other hand, cost of production increased, as the dlmlshed demand prevented some of the company's works from operating full time and entirely suspended operations at others, and an extremely severe and long winter further added to the cost of output by enhancing cost of fuel in net should have been between 60 and increasing the amount of labor required. The encouraging feature for the future Is that in all these particulars tbe situation has now altogether changed. President Thompson of the Republic Iron & Steel Company states that at the beginning of March the volume of business began to increase and since then the operations of the company have been profitable, so that to-day the outlook is again very encouraging. The very decided Improvement in the iroQ and steel trades which has occurred recently is sketched in our remarks further above In this article. There was no change in official rates of discouat by any of the European banks this week; unofficial or open market rates were, compared with last week, steady at London at)d^@i of 1 percent higher at Paris, Berlin and Frankfort. Tne most notable features oi the statement of, the New York Associated Banks last week were the unexpectedly atuiW gain of $311,400 in cash reserve and the important decrease of $11, 976,800 in loans. The deposits fell o& $13,038,300, the largest decrease since May 31, as the result of which reserve requirements were reduced $3,009,675 and the surplus reserve was Increased $3,320,976. The bank statement of this week should reflect, among other items, the receipt through the Sub-Treasury of $1, 136,000 from San Francisco and the transfer hence of $500,000 to Boston and of 1300,000 to Chicago. Money on call, representing bankers' balances, loaned at the Stock Exchange during the week at 3^ per cent and at 1^ per cent, with the bulk of the business at 3 and the average about 1| per cent. Banks and trust companies loaned at 3(^2^ per cent. On Monday loans were at 3 per cent and at 1^ per cent, and chiefly at the higher^ rate. On Tuesday Oq Wednesday and month orly $817,544, contrasted with $2,078,000 for the 1903 and $2,322,618 for the four of 1903. majority at 3 per cent. transactions were reported in over-the-year and in sli- four months of the case of 2^ per cent and at If per rent, with at and at 1} per cent, with the bulk of the buainesa at 3 per cent. The low rates ruling for time loans Induced commlaalon houses to borrow with some freedom and quite large 70 per cent. Moreover, we have recently had the net earolngs of the American Oar & Foundry Co. for the four months ending August 31, showing for 1904 net months Vol. lxxii. thereafter loans were at 3 per cent only 1686,318, comparing with $1,760,938 in 1902 3, revealing in that case, likewise, a contraction of about of I trans- The Bank of Eagland minimum rate of discount remains unchanged at 3 per cent. The cable reports discounts of sixty to ninety day bank bills in London H®H V^r cent. The open market rate at Paris is 3f per cent and at Berlin and Frankfort it is 4^ per cent. According to our special cable from Lon- Bank England £198,414 bullion during the week and held £36,863,116 at the close of the week. Oar corre^poadent further advises us that the loss was due to the import of £200,000 (wholly from India), to exports of £500,000 (of which £460,000 to Egypt and £40,000 to South America), and to receipts of £103,000 net from the interior of Great Britain. don, the of lost The foreign exchange market has been atrorg this week, influenced by a demand to remit for securities sold for European account and also to cover short conmaturing obligations including The supply of exchange has been infinance bills. sufficient to meet these inquiries and consequently The inability of bankers profitrates have advanced. ably to employ their balances has caused them to refrain from drawing bills except for current needs; in some cases the proceeds of commercial drafts have been permitted to accumulate abroad, where they could earn more satisfactory rates than were obtainable here; and the unsettled discount markets in Europe have more or less affected those operations in exchange which are usual at this season. Thoue:h the advance In long sterling would seem to make advantageous the drawtracts and to discharge leg of finance bills, the uncertainty regarding the con- market at the time when such drafts would mature has discouraged the negotiation of these bills, and the prospect for con'cinued ease in domestic money seems to have effectually checked inWbile exquiries for sterling or franc loan drafts. change on London has been strong there has also been a good demand for francs and marks, resulting in an dition of the advance to the highest rates for the season. Grold received at the Custom House during the week, $346,703. for sterling exchange are 4 84^ day rand 4 86@4 87 for sight. The market was active and higher on Saturday of last week at an advance, compared with the previous day, of 10 points for short to 4 856r@4 8565 and of 30 points for On cables to 4 8610@4 8616; long was unchanged. Monday there was a rise in long of 16 points to 4 8346 @4 8365, of 10 points in short to 4 8570@4 8590 and On Tuesday of 6 points in cables to 4 8615@4 8625. of 6 points again strong advance was at an tne tone for long to 4 8360@4 8360 and of 6 points for short to 4 8676@4 8680; cables were 5 points lower at 4 8615® 4 8620. On Wednesday while long rose 6 points to Nominal quotations 4 84i for sixty . Oct. 22, . . . — . THE CHRONICLE. 19(»4. 1673 4 8365@4 8366, short fell 6 points to 4 8670@4 8676 and cables 10 points to 4 8606@4 8616; the market was Irregular. Oa Thursday the teadeacy was decidedly upward, long rising 10 points to 4 8365@ 4 8376, short 15 points to 4 8585® t 8590 and cables 15 points to 4 8620@4 8626. The tone was strong on Friday at an advance of 10 points for long and of 15 origin of the present ''bull market" and situation, and poicts for short and and to recall exactly what were the Influences which then governed the market's hopes and apprehensions. There was the saving fact, on the one hand, that the prolonged financial strain of 1903 had been endured without But on the other hand there reserious disaster. mained, early in the present year, some very positive elements of uncertainty. There was, first, a feeling Baring, FRI., MON., TUBS.. wkd., Thcb., Oct. It Oct. 17. Oct. X». Oct. 10. Oct. 60 days Sight.. 4 84 J < 60 days 4 i Brothers Magoun & 84 8d>^ 84^ 86^ Co. (Sight.. 4 60 days 4 64 J (Sight.. 4 84X America.. No. (60 days 4 84 Bank of 4 He Montreal } Sight.. Canadian Bank ( 60 days 4 81 4 86« of Commerce.. ( Sight Heldelbaoh.Iok- 1 6n days 4 84 4 8»>< Sight elhelmer & Co. ( 4 84 } 60 days Lacard (Sight.. 4 86^ Freres Herohants' Bk. < 60 days 4 8« (Sight.. 4 86^ of Canada Bank British . 84^ 84 84 84 b6^ 84H 8»>i 86>6 ii). FBI., Oct. -a. 84 }« 8a« 87 84H 8BH 86H 84H 86M 84 84 84 84 b4>6 ton 8e« son 86X 84 84 86 84 84 84 88 84 86 87 84 86 84 80 84 84 8e« 84 84 t6« 84^ 86« 86^ b7 84 84 8*H 80^ 84 rather striking its same time comments which have been present to some publicly by banking experts. We do not suppose that the cause of the recovery To underin stocks is now mysterious to any one. made on stand its it meaning it is necessary only to revert to the early days of the present year, cables. The following shows dally posted rates for exchange by some of the leading drawers. DAILT POBTBD RATES FOB FOmBION BXOHANOB. Frown to refer at the 84 8H« 81 84 8f« 80« mi sua 84 84 84 84 87 84 8e« 8«« 8«W 8«« prevalent in many classes of the community that the trade reaction had not run its course. To this misgiving the progressively poor showing of monthly railroad earnings, and the lapse of monthly iron pro- duction, after a brief recovery, to very discouraging figures, necessarily contributed. not a few people of There were, indeed, who were unable from doubt as to experience 8376@4 8386 for wholly to free their minds 8630@4 866 for might not follow last year's whether results Oommerclal on banks, 4 8350@4 8860 and cables. tboae which followed liquidation, similar to Cotton for documents for payment, 4 82|®4 83| The market 4 long, closed on Friday ao 4 86@4 8605 for short and 4 — the parallel episode In 1883 namely development, in payment, 4 82f ®4 82i; cotton for acceptance, 4 8350 the ensuing springtime, of some points of acute ®4 8360, and grain for payment, 4 83f @4 83f financial weakness Involving institutions. In addifollowing movements existed The ^Ives the week's of money tion to this three other elements of doubt to and from the interior by the New York banks. first, as to what would be the Infiaence of the Presidential canvass ; second, as to whether European Received bv Net Interior SMpped bv Week ending Oct. 21, 1904. Cf. T. Banks. S. T. Banks. MoveTnent. markets could escape demoralization as a consequeoce 16,115,000 Loss. $761,000 CorrencT tS.S64,000 of the Eastern war, and, third, as to how the coun157,000 1,104.000 Loss. Gold 947,000 try's crops would fare. Total gold and legal tenders. Loss. $6,801,000 $7,210,000 $918,000 Most of these elements of apprehension were With the Sub-Treasury operations the result is as at least reasonable, and it is not at all surprising follows: that the investment community should very largely have restrained its activities in the face of them Into Out of Net Ohangt 4n Wuk ending OcU 81, 1004. Banks. Banks. Bank Holdings, even when convinced that the really acute strain Banks Interior movement as above $6,301,000 $7,219,000 Loss. $918,000 on the How these markets had passed by. Bnb-Treasury operations 27.3(50,000 28.361,000 Gala. 1.000.000 several misgivings dispelled is known to were Total gold and legal tenders. $83,691,000 $33,660,000 Gain. $82,000 every one. Prudent investors began to see clear The following table indicates the amount of bullion light toward It was the middle of the year. in the principal European banks. then that bank exchanges and railway earnings Oetober 20, 1904. Oetober 28, 1903. began to show improvement, indicating that trade Bank of Nothing resemreaction had reached its limit. Oold. Silver. TotaU Oold. 7otdl. Silver. bling the panic of 1884 occurred in the interval. £ £ £ £ £ £ 3S,8&8,llli ngland... 80,853.116 32,026,870 82.628,270 Fears that the Presidential contest might revive 104.435.550 44,025,208 148,480.768 87,078,358 44,317,80) 141,386,891 France. 81,067,000 10,916,000 41.W83,000 32.663 000 11,438,000 13,991,000 Oermany.. the struggle of 1900 and 1896, over the cur07,T4fl.OOO| Rnssla 7,282.000 104,078,000 7e,89>!.000 6.8-0,000 83,772,000 rency standard, were dispelled by Judge Parker's us.-Han, 48,248,000 12,089,000 60,887,000 45,808,000 18,S44,OC0 68,147,000 Spain. 14,817,000 20,041,000 31,861,000 14,520,000 1H,244,000 33,764,000 famous telegram to the Sd. Louis Gonventlon on the Italy 82,011,000 8,424,600 26,4'56,600 20,!)12,000 2,399,200 82,711,200 NatherI'ds 6,491,900 6,056,800 11,660,200 9th of July. As to the two other factors of misgiving, 4,066,400 6,321,700 10,378,100 Nat. Belg. 3,860,687 1,626,933 4,876,000 8,108,000 1,664,000 4,682,000 no one could doubt, after the sprirg's experiences Tot. week.. 368,963,882 108,411,811 469,861,578 326.940,028 104,498,20,S 431,447,281 ToUprev... 862,221,038106,280,071 467.601, 10» 8')l,321,445 106.084.691 437.850,126 that a serious crash on Europe's markets, as a result either of Russian or Japanese victories, was most improbable this conviction being deepened by the THB 81 OCR IHE indifference with which the markets met the Rad Sea OF PROaPERITT. Incident of July. Regarding the crop uncertaiuty, it Early In the present week the stock market reached developed with the progress of the season that we a point in its movement of expansion which calls for should probably harvest this year the largest corn and some thoughtful consideration. That such consider- cotton crops in our history, while a highly remuneraation has been liberally given to it, and that both the tive price for wheat compensated the farmer for a ground for the prolonged advance and the dangers relatively small harvest. . . — . .. MARKET AND of a return of RETURN reckless speculation by the public genhave been freely canvassed are reassuring signs. These Incidents show, at any rate, that the erally — We repeat that these conclusions necessarily came only slowly and by degrees, even to the most experienced financial mind. They were preceded, and In a la not rushing blindly into cartaln way foreshadowed, by the operations of specu, dangerous speculative excesses. We think this time lators In the markets. It may be said, however, that pertinent, therefore, to say a few words regarding the the active movement to replace investment capital in financial public, as a whole, a THE CHRONICLE. 1674 the marketi started around the middle of the jear, and continued through the summer. Under Its Impulse prices rose 20 to 30 points above the low level of [Vol, Lxxix. ihls expansion was then offaet, not alone by hazardous currency experiments, but by severe depression in agriculture, of which those experiments were in part a consequence. It may be shown that ihat the earlier months; then, when Investment buying seemed to slacken as It naturally would with the the fiuitnclal prosperity of the early eighties was higher level of prices fixed the professional specula checked by these vicissitudes of fortune, to which the tor took the center of the stage. We need hardly present position, like that between 1878 and 1883, recall to the reader's mind the wild operations of a provides so striking an antithesis. Some will concede month ago which marked the activity of these people. that a reverse through more or less similar causes is For a time, even such financiers as were convinced of not inconceivable In the longer future. These are the soundness of the general situation indulged in some the counsels of prudence, and though Mr. Vanderlip misgiving as to the outcome If these wild perform- does not explicitly refer to them, they seem to be ances were to achieve their obvious purpose, through borne in mind. The following excerpt from his the attracting of an excited and reckless speculating speech is much In point, not only because of very public into the Stock Exchange. The return, this recent experiences, bat because of the hiflyory of a week and last, of a more conservative investment atti dozen years ago: tude, has largely relieved such apprehensions. "Daring the height of the last commercial expansion Bearing on all these points, an address made before people 80 lost their heads as to excuse their extravathe Illinois Bankers' Association at St. Louis last gant and foolish actions by saying that there was a the old laws no longer apTuesday, by Mr. Frank A. Vandeilip of the City new political economy; that plied under the new conditions. They were wrong, Bank, deserves attention. It impresses us as a very lamentably wrong." shrewd and conservative view of the present situation, To which is added the following warning, very perwith a forecast of the future, which, though perhaps tinent In the existing Stock Exchange situation: rather boldly optimistic, is none the less Interesting. "We are always in danger of overdoing, and may for Mr. Vanderlip first reviews the recent past. The the moment, perhaps, hnve already made that error, f naiclal reaction of last year he ascribes wholly to for prices have shown most substantial recovery financial excesses arising from imprudent "discount- recovery certainly in advance of what would be warEnranted by the present actual conditions. ing" of real prosperity. Of this episode he says couragement to a wild speculative boom at this time, "We ran into excesses, extravagances and miscalcu- when improvement is justified more by hopes and lations. Capital made mistakes of over capitallzAtlon; poBsibilitles than by Immediate actual conditions, labor made mistakes of arbitrary and unwise demands; might set the whole period of recovery back a month, everybody made mistakes of extravagance. Prodacers made errors in estimating the demand and made mis- six months, a year. A great speculative boom now is not what is needed. It is indeed one of the special calculations In the multiplication of their productive dangers. If bankers in the great centres are unconcapacity. servative in the Inducements they hold out to secure "The railroads were caught in much the same situdeposits, and accumulate great stocks of money which ation. They made huge engagements lor expenditures, loan at such low rates as to encourage unduly a which they felt were necessary in order to handle the will speculative spirit, they will strike a blow at this retraffic that was pressing on them. For the time being, turning prosperity which may long delay its coming." far too great a portion of liquid capital was absorbed It will hardly be necessary for us to express our enInto fixed forms of investment. Directly and indl rectly, bank credits which were payable on demand tire concurrence with this view of the matter; it is no were, in a dangerous proportion, converted Into new secret that the consideration thus set forth has been manufacturing plants and Into new railroad tracks, a source of uneasiness to conservative financiers durequipment and terminals." ing the occasional days of extravagant stock market The penalty wai Imposed, but It was not of a sort manipulation which we have recently witnessed. It to cripple. Now we are passing out of the season of is our hope, however, that the public is no longer In retribution. Mr. Vanderlip recites the elements of a mood to fall victim to the wilder illusions of a specpromise In the present situation: a population foot ulative craze, and while it may join for a season in the Ing up 68,000,000 ten years ago, 82,000,000 to-day exciting revel of the Stock Exchange, we believe that and likely to be 98,000,000 ten yeara hence; a stupendthe instinctive caution and restraint, borne of the ex- — — — : ous increase In material wealth; a money supply inperience of the past three years, will sat a bound to creased from 11,600,000,000 a decade ago to $2,600, its excesses. 000,000 now— all of it fixed at parity with gold— and promising, at the same rate of progress, to reach UNION PACIFIC'S PROSPERITY. $3,400,000,000 ten years hence; a sound bank position; our floating foreign debt liquidated, and a position The Union Pacific R«lroad Co. is one of the large reached where, at need, we can command inter- railroad properties in the United States which does national credits and bring gold to strengthen our re- not appear to ha\e suffered much from the period of serves. All this, Mr. VandersUp holds, creates con- trade inactivity that'characterlzed industrial affairs In ditions "favorable to a return of prosperity." "The the United States during the twelve months ending course of financial events seems likely to follow only June 30 1904 at least there is little indication of one general direction, and that is towards improve- the presence of that infiuence in the company's annual ment." In this the experreport, issued the present week. This is an interesting forecast with which, in the ience of the road has been rather unique, particularmain, experienced judgment will concur. Students ly among Western roads, which in their reports for of past economic history will no doubt point out that the same period of twelve months have nearly all this country's population Increased in as great a ratio shown curtailment of income as a result of this and during the decade preceding 1894 as in the decade the other adverse factors which marked the year. after it, and that the ratio of increase in circulatiofij Some of these other roads, indeed, sustained quite medium in the earlier period was nearly as great; but heavy losses, whereas the Union Pacific is able to — THE CHRONICLE. Oas. 22, 1904.] 1675 record a large Increase in gross and a hardly less note- new equipment and $50,000 was contributed to the Insurance Fund of the Oregon Railroad & Navigation worthy Under the present management the Union Pacific Company. This makes $3,650,000 altogether approIncome statements have been extremely favorable for priated In these ways, and even then a balance of $4,many years past. With the further additions to earn- 713,466 remained. The $3,560,000 is of course engain in net. ings established In 1903 4, the company's record in In truth it that regard becomes still more striking. independent of the $898,266 net proceeds of land same purpose under the provisis quite accurate to say that, though there are many ions of the first mortgage as already stated. The convery prosperous railroad properties in the United tribution for betterments, &c., in 1903 4 was only States, there are few that can present such a highly $2,000,000. In 1901-2, also, the appropriation for this encouraging income exhibit as does the Union Pacific. purpose was $2,000,000 ; in 1900 01, it was $1,600,000. Consider what the figures show. Over and above all We notice from the balance sheet that $3,000,000 of ezpeDses and fixed charges, and also above the 4 per these various contributions for betterments, additions cent dividends paid on both classes of stock, a surplus and new equipment were still unused June 30 1904 and of $8,333,636 remains on the operations of the twelve therefore remained available for the future. months. Put In another form, after paying 4 per cent We have stated that both gross and net earnings in on the stock, the company had left the equivalent of 1903-4 had been largely Increased as compared with 8 per cent more on the 1108,770,900 of common stock the twelve months preceding. In the gross earnings outstanding. The Importance and significance of this showing is tirely sales available for the the gain (eliminating from the 1903 results the earnings of the 512 miles of track sold July 7 1903 to the enhanced, since the result was obtained, as It appears. San Pedro Los Angeles & Salt Lake Rillroaa ComIn face of a reduction of income on one large invest- pany) amounted to no less than $5,162,277, or 10*30 ment and a complete absence of income from still an- per cent, and In the net earnings the Increase reached other very large investment. The Union Pacific owns $2,846,724, or 12-16 per cent. The feature which 182,491,871 of the capital stock of the Northern Securities Company. From this it received only $2,166,- 410 In the late fiscal year as against $3,574,645 received In the preceding fiscal year. In other words, Income for 1903-4 was credited with over 11,400,000 less than in the previous year from that source. The reason for the falling off is, of course, known. is the much Improvement in net earnings than in gross earnings, this being so different from the experience of other roads. A really striking advance In operating economy was effected during the year. larger ratio of The increase in expenses was $2,316,563, of which, The however, no leas than $1,676,062 was due to Increased Northern Securities Company was on March 14 last declared an Illegal combination by the United States Supreme Court, and'since then has been ei joined from paylrg any further dividends to the owners of Its Had the Union Pacific received as much in dividends on its holdings In that company's shares as shares. attracts chief attention In these figures maintenance outlays. Cost of conducting transporta- no more than $457,141, or only 3*38 per The larger maintenance outlays are explained by tion Increased cent. the fact that the company spent $530,791 for repairing damages caused by floods, Increased its expenditures for crossties by $508,619, and also heavily Increased income statement would have shown expenses for repairs of bridges, for renewals of rails, more earned on Union Pacific com- switches, &c., and for renewals of buildings, &c. The number of new crossties put In was equal to 851 But the Union Pacific also owns 190,000,000 of miles of continuous track, and formed 12*47 per cent Southern Pacific Company stock, and from this In- of all ties In track. Including sidings. The expendivestment no Income whatever was received either last tures for maintenance of way averaged altogether year or the previous year, the Southern Pacific Com- $1,192 per mile of main and second track operated, pany as yet having made no dividend distributions, as against $941 for the preceding year. As regards all of its large surplus income from year to year hav- the expenditures on maintenance of equipment, It Is ing been devoted to betterments and improvements. only necessary to say that they averaged $3,566 per The situation then is that the Union Pacific bad $8,- locomotive, $813 per passenger-train car and $76 per 333,636 of surplus Income above the 4 per cent divi- freight- train car. dends being paid on Union Pacific stock without any The small addition to cost of conducting transporreturn from Its Southern Pacific stock, and with a tation (namely $457,141, or 3*38 per cent,) in 1902 3, its nearly 1| per cent mon stock. is large slice cut off the dividends on its holdings of Northern Securities stock. We may add, too, that the Union Pacific Income statement never Includes the proceeds from the sale of lands (which for 1903 4 to $898,256), since these proceeds, under the provisions of the Union Pacific first mortgage, are amounted set apart and held by the ment and equipment fund for any expenditures for trustee as a cash improve- to reimburse the company betterments, improvements, equipment or other properties not paid for out of other funds or charged to operating expenses or cost more noteworthy as cost of all the fuel for locomotives in- creased $212,130, the company having been obliged to pay an average of 12 cents a ton more for the coal used by It during the year. Except for the enhanced cost of fuel, transportation expenses would have Increased only about $246,000, or less than 1| per cent. Yet the freight trafl&c of the system, as represented by the number of tons moved one mile, increased 872 per cent and the passenger trafilc, as represented by the passengers carried one mile. Increased 10-42 per cent. Such figures are the evidence of the enhanced of maintenance. economy In operations attained, and added sigWhat disposition. It may be asked, was made of the nificance is given to the further Improvement $8,333,636 surplus Income for the year ? The sum of by the fact that operating economy was very $1,600,000 was appropriated for betterments and addi- high before. As showing how the Improvement was tions made during the year, $600,000 was set aside as brought about, we may point out that the number of a reserve for future betterments and additions, $1,600,- tons of freight In each oar was Increased, that the per000 more was set aside as a reserve for the purchase of centage of loaded freight-car mileage to total freight- TllK GllRONICLK. 1676 car mileage wus also Increased, and tbat In boih tne passenger service and in the freight service the extra Yolnme of work was done with an actual decrease In were ran by engine mileage. Thus 360,168 mllas loccmotiyes attached to passenger trains aid 407,694 miles less by locomotives in freight trains, making a in total saving in engine mileage of 716,389 miles face of the considerable expansion already noted Id less — both the passenger and the freight traffic. Such resnlts obvloasly argue great attention to It is needless to say that there was a farther details. expansion in train-load, for that follows inevitably from the fignres just cited. As a matter of fact, the report tells as that the average train-load was the greatest in the history of the properties since their reorganize In the previous year the average load was only 413 tons, so tbat there was an improvement daring the twelve months of over 9 per cent. Going back to 1898, we find that the average load then was cot quite 278 tons. Let the reader It reached 461 tons. tion. overlook not the significance ling of the train-load in a period of this of six years. doub It Is an achievement of a high order, and it furnishes the key to the policy pursued by the present manaijement the affairs of the system. amount of buai Increased been to do an The aim has and to that work, ness at a decreased cost per unit of end perfectly enormous sums of money have been spent in the improvement of the various lines forming part of the system. The present prosperity is the fruit of these efforts and shows with what success la their administration of they have been crowned. As in previous years, the company's financial trans actions were on a large scale. Union 000, OCO lateral Pacific There were sold $10,- Railroad Co. 6 per cent col notes maturing Feb. 1 1905. This, with sur- plus earnings, would have been sufficient to entirely extinguish the floating debt which existed at the close of the preceding fiscal year— that Is the $14,350,000 The loans and bills payable reported June 30 1903. company, howeyer, made some large new investments and also I Vol. Lxiix new couipnuy, thereby averting the duplloAiion of a amount of mileage, it has never seemed likely that very serious harm to Union Pdclfio arid other large existing trans-continental routes was threatened. At appeared decidedly Improbable that the Union Pacific had not taken adeqaate measures to protect Itself before turning over the old mileage, so tbat In any event the lines would not be used as a weapon least it against itself. The more reasonable view was that a complete understanding had been reached between those in control of the Union Pacific and the promoters of the new road, and that this latter was designed mainly to occupy territory greatly in need of new mileage rather than to make inroads upon the business of the established systems. All doubt on the point is now removed by the definite announcement In the report that during the year the Oregon Sbort Line Riilroad purchased a half Interest, "which it now owns," in the Sdn Pedro Los Angeles & Salt Lake Riilroad. Moreover, it is stated that on account of this inyestment there was paid to June 30 1904 almost fifteen million dollars— $14,960,000. Hence, as against the $13, 128,0C0 fixating debt, the Uulon Pacific had $20,460,937 due it from the Southern Pacific Co. and also this $14,960,000 represented made for account of the San Pedro Los Lake Railroad. Besides these free assets, $12,593,815 had bean advanced to June 30 1904 for the construction of new lines, for the comby nayments Angeles & Salt and for additional rolling stock. company June 30 1904 held in its treasury unpledged $156,111,700 of stocks and bonds, the pletion of steamships Finally, the largest items in this latter total being the $90,000,000 Southern Paclfic^Co. stock;and $32,139,000 of Oregon Short Line Railroad 4 per cent and participating bonds. Evidently, therefore, the matter of its finances, as and operating and the Union Pacific, in in Its physical condition fiscal results, occapies a position of great strength. further advances to other companies, and hence the Item of loans and bills payable still exists and for June^SO 1904 was reported $13,128,000. Over $5,000,000 more was advanced to the Southern Pacific DEVELOPMENT OF WABASH RAILROAD. The Wabash Railroad may be said to entered upon the most Interesting period of have now growth its Company, making the total loans to that company and development. Far many years its traffic and June 30 1904^$20,460,927. This one item alone, it will revenues have been expanding in a most marked way. be seen, exceeds by over $7,000,000 the $13,128,- Now an entirely new source of traffic has been opened 000 of loans and bills payable of the Union Pacific. up to it in the completion of the line giving it con- — Southern Pacific Company nection with that important traffic centre Pittsan issue of $100,000,000 7 per cent pre- burgh. If progress has been yery rapid in the past, ferred stock, of which $40,000,000 Is to be issued Im- this new connection ought to ensure a continuance of mediately 60 per cent of the payments on account of that condition for the future always providing that this 140,000,000 having Indeed already been made. no serious reverse in the country's industries is experOut of the proceeds the Southern Pacific will be ienced. The Wabash will have a further advantage It will be recalled that the lately created — able to liquidate — Its Indebtedness to the Union Pacific. But perhaps the most Important transaction of the year was the investment in the San Pedro Los Angeles & Salt Lake Railroad Company. This is a new enterprise, providing for a road from Salt Like City, Utah, to Los Angeles and Saa Pedro, California, and is It is commonly reknown as Senator Clark's road. ferred to In the newspapers as a rival trans-conti- nental line and inimical to the Union Pacific Railroad As the Union Pacific or, to be on that account. more accurate, the Oregon Short Line Railroad, which forms part of the Union Pacific system had transferred 512 miles of road in Utah and Nevada to the — — be derived from the in the extra travel to Fair at St. Louis. The Wabash system is World's situated in the heart of the country, and with lines running into Loais from Kansas City, Omaha and Des Moines on the west, and from Chicago, Detroit, Toledo, Buffalo and Pittsburgh on the east, its share of the passenger travel to the Exposition will necessarily be la fact the report tells us that the paS' large. senger traffic at present Is enormous, and will remain so until the end of the Exposition on NovemSt. ber 30. President Ramsey defines clearly and at length the Wabash's relations to the Pittsburgh line. Through the arrangements made during the year this Pitts- Oct. THE CHRONICLE. 22, 1904.] burgli eitensloa passenger traffic the close of the — wntch was and through fiscal 1677 Hence the $24,000,000'millioa mark would not opened for tnrougJi $952,867. train service until after be reached If during the remainder of the fiscal year earnings should keep np only to the level of last year. As a matter of fact, It seems likely that they will go year, that Is not until July 2 1904— and also the Wheeling & L%ke Brie (which forms the connecting link between it and the Wabash liaes) considerably above this level, at least during the time have in effect become an Integral part of the Wabash up to the close of the Louisiana Purchase Exposition though their operations and accounts at St. Louis on November 30. system, The Pittsburgh road The further addition to gross earnings in the late kept separate. still are was originally known as the Pittsburgh Car- year, as has already been seen, was $1,882,798; but Ealiroad, bat through consolnegie & Western Creek Ballroad In West VirCross the idation with ginia and the Pittsburgh Toledo & Western Railroad In Ohio, it became the Wabash Pittsburgh Terminal Railway Company, which Is Its present name. Certain and trackage agreements exist between the new company and the Wabash and the Wheeling & Lake Erie companies whereby these latter agree, if it ahonld become necessary so to do, to pay 25 per cent of their gross earnings from traffic derived from the new line, or so much of such 25 per cent as may be required to meet any deficit on the Issue of bonds of the Wabash Pittsburgh Terminal Railway Company. As President Ramsey well says, this condition puts no burden on either company, as neither will be required to pay anything unless it gets additional earnings from the business of the new lines. But the Wabash's hold on this Pittsburgh outlet Is not llmltad to these traffic agreements, which indeed formed simply the earlier steps in the processgof binding the Pittsburgh line to the parent system. Daring the year the Wabash Company purchased the whole of the $10,000,000 stock of the Wabash Pittaburgh Terminal Rill way Company, giving In exchange therefor $10,000,000 Wabash common stock. The Pittsburgh Company had previously purchased a controlling Interest In the Wheeling & Lake Erie Railroad, so that through the acquisition of the Pittsburgh Company the Wabash obtains the ownership and control of some 650 miles of railway lines. These lines reach from Pittsburgh to Toledo, Cleveland, Wheeling, SteubenvlUe and Zanesvllle the greatest freight tonnage territory in the world, as Mr. Ramsey traffic — was attended by an augmentation of $1,867,847 In expenses, it brought with It scarcely any addition to net earnings. In this, however, the experience of the Wabash has been like that of most as this own other large systems, and also a good deal like its experience In the years Immediately preceding. We have on previous occasions given the reason for the augmentation In expenses in other years, and the report sets out the special causes explaining the further increase In operating cost In 1903-04, declaring that the conditions affecting expenses during that period were to a certain extent really abnormal. Here is what the report says on these points : wages of trainmen on the Western Diviand 15 per cent and promises made which resulted in a similar advance on the Middle Division, these two advances covering two- thirds of the system. In addition, wages of ens;ineers and firemen, shopmen and other classes of labor, were more or less advanced. The total increase in expenses dne to these changes in rates of pay and (a) In April 1903 sion were advanced 13 rales of service aggregated about $400,000. (b) April Daring January, February and March and part of the severest winter, with lowest temperature we had and worst storms, all over the system, ever known in the history of the company, not only reducing the earnings bat largely increasing the expenses of operation. (c) The cost of f ael for the first ten months of the year was higher than ever before, being nearly 30 per cent more than the previous year. (d) The work of preparing the line for the World's Fair traffic was pnsbed vigorously, and added largely to the expense account. In order to show the great expansion which has occurred in recent years In the company's traffic, both passenger and freight, and also In Its gross earnings, points out, the Pittsburgh district alone last year con- and the relatively much smaller Increase in net earnsuming and shipping over 86,000,000 tons of coal, ings, we reproduce a table given by us in our review of coke, ores, iron, steel and manufactures and mer- the previous year's report, adding the figures for Mr. Ramsey says It Is confidently expected 1904. chandise. Orofs Passengers Xet that the control of these properties and of the traffic Fear ended Tons Moved June 30. One mie. Earnings: One Mile. Earnings, secured to the Wabash thereby will add largely to 1897.. 135,963,860 .1,149,989,024 fll.526.787 43,547,628 .1,365,693,174 180,359,167 13,207,862 3,903,083 the revenues of the company which would appear to 1898 — be a moderate statement of the benefits to be conferred. should also be noted that the Wabash purchased 16,600,000 first mortgage bonds of the Wabash Pitts burgh Terminal Railway Company, paying $6,000, 000 therefor, payment being mada through the issu It ance of a three-year obligation secured by the $6,600,000 bonds as collateral. When the fiscal year covered by the present report 1899 1900 1901 1902 1903 1904 .1.666,830,054 .1,902,881,278 .1,978,952,4^;! .1,947,<.04,142 .2,198,073.383 .2,175,0^0,058 Increase 19 04 over 1897 .. 89*2 P.O. It will be seen 210,592,939 233.848,065 204,268,214 322,708,490 330,111,942 :369.283,8:U 171-6 p. 0. 14,393,974 16,440,990 17.554,465 19,05:1,493 3,982,500 4,493,573 4.802,420 5,206,057 21,140,829 5,;! 23,02:!,626 5.340,118 99-7 p. 0. -25,167 50 5 p. 0. from the foregoing that gross earn- ings for 1904 were just about double the amount for 1897, the comparison being $23,023,626, against $11,- began. President Ramsey estimated that gross earnings for the twelve months, which in 1903 3 had been •21,140,829, would reach $23,000,000. This estimate 526,787. has been fully realized, words, with $11,496,839 increase in gross earnings In the seven years, the gain In net earnings has been only slightly above the figure 627. Mr. Ramsey now the total for 1903 4 going named and reaching $23,023, ventures the prediction that gross In the case of the net earnings, however, the improvement has been only about 50 per cent, the tottil rising from $3,547,628 to $5,340,118. In other remaining $9,704,349 of increase In earnings for 1904 6 will exceed $24,000,000. This earnings having been consumed by augmented exis obviously a very conservative estimate, since for the penses. The passenger traffic of the road has period of the fiscal year thus far elapsed, that Is the increased over 171 per cent, rising from 135,963,880 three months and two weeks up to October passengers one mile in 1897 to 369,283,834 m 1904, and the freight traffic has Increased 89 per cent (notsum of 14, the gross earnings have already Increased In the large $1,792,490, the . . J THE CHRONICLE. 678 wlthstandiDg a email fttUing off in 1904 from 1903), having expanded from 1,149,989,024 tons one mile to 2,176,680,068. Tdeae latter figurea convey an Idea of how vastly the buslnesB of the ayatem, both In the pasaenger and In the freight department, haa already been extended, and they alao afford the promiae of contlnned farther development now a line to Pittsburgh. Moreover, it would likewise aeem reaaonable to expect that when oondiiions aa to expenses get back to a normal basis again, the company will be able to derive increased net earninga from the enlarged amount of transportation service that the road haa rendered. RAILROAD 0R0S8 AND NET EARNINGS FOR AUGUST. The August compilations of the United States railroads is the saving which thus meets the expecta effected in expenses tions in that regard entertained for so long, but not As a result of this realized until the last few months. saving net earnings for August ahow a fair amount of improvement, namely 12,264,781, or 6*61 per cent. The increase in gross earnings was very small, being feature of onr earnings of — Wh«n only 1166,892, or but a fraction of 1 per cent. August issued, onr preliminary statement for was shortly after the close of the month, it seemed as if the improvement in gross might reach larger propor- But the returns subsequently received were not so favorable as the earlier ones had been, and as a consequence the total of the gross for 1904 stands tions. same as for last year. As is well known, there were some favoring con- substantially the The ditions during the month. movement grain in the West was larger (except at some of the springwheat points), the high prices prevailing having [Vol. Lxxix. Oram Karnino». A r*ar ! Se.af Fear Ttar roadt. e<v«n. PrueAim. Ntt Bamint*. Ttar r*ar Inertatt or DtereM»t I Inertau I Pr*etdino. Dtertat* 10.088.80' —1,404 480 >4.888.ed0| 10.608,160 -M.639,451 -247,821 -K,530.9:e +8,1^8.768 +6,3S8.710 -1,847.737 +6.534.845 +8.864.781 e(r«n. I Attg i 17,416.05(1 —8 079,7»4 •»«(ia7) 68,840.107 69.819,991 •97(183 00.SU.713 6^,687.816 96(188) 77,816.918 76,39 1.949 +8.164.90» +1.5 {1,961 -99(118i 81.992.796 70,990,461 fl0,0»7,811 '00(189) 92,067,488 10i675.-H8l 89,191.126 '01(116) +6.876.89^ 88816.118 40,64S.77) +166,S»2 48.19S.850 •08(106) 106.890.629 •03(1141 18l.O50,78l> 96,410.678 +18.181.651 10i.lll.l2«! +3,?79.«01 106.867.41-* (-15.783.2p3 04(100) 119.821,633 119.665.718 Jan. O 1 •96(117) Aug. 81 S 883,873,176 •97(185) 893,208.000 488,880,079 '93(1881 687,836,201 491.579,818 •99(107) 916,901,578 472,609,134 ••0(119) 688.878.668 669.628.119 01(104) 669.681,141 6)6.189,615 409.682,016 •09 (99) 663.069.469 '03(104) 774.778.127 628.141,799 6*8.863.389 '04 (96) 804,883.S1« 818,688,917 87,9U.60l' 8e,l%9.88' 2«.780.9'1>-I 25.90t.0t9 86.028.40^ 1 1.848.819 31.038.860 84,210.061 87.776.149 85.747.171 40.018.469 $ t +9.989.881 U6,03l 688! 114 .890,011' +2.610.783 H8.749.031 188.836 on 10 ,348.68- +11.007.823 +46. 866 .88V 70.05 J 638.687; + 15.444.860 +14.896.44' 164.647. 8218791 -HI 7.8 10.189 +7S,850.9S« i04,4S6, 439,880; +28.90«.7e4 +61,891,62. 8J9,445, 778.611: +81.646.481 +40.687.658 214,936, 817.707 -(-8.069.478 +10168483- !m8.000. 608.701 +80.800.808 -18.803,978 (89,810, 144.087 -10.983,471 1 i I NOTB.— Neither the MexloEm roade nor the ooal-mlnlng oi>«r»tloiu of the anthraolte ooal roads are inoladed In any of these totals. la the caae of the aeparate roada there are many Inatancea of decreased expenses. Indeed, owing to the saving in expenses, some marked differences between gross and net are found, certain roads appearing at once at the head of the list of decreases In gross and near the head of the list of trtsreases in the net. The Pennsylvania Billroad furnishes the atrlking most conspicuous illustration of this kind. On the lines directly operated both east and west of Pittsburgh this system suffered a decrease in gross earnings in amount of 11,077,600, but expenses were at the same time reduced so much that the Pennsylvania has a larger Improvement In net (with one exception) than any other road contributing returns that is has $601,800 gain in net. There are many other companies where the feature of de- — creased expenses Is The also strikingly apparent. Illi- nois Central, with 1243,106 Increase In gross, reduced its expenses 1298,604, and therefore haa $641,709 gain The Loulaville & NaahvlUe, with $139,981 in- In net. stimulated shipments to market. The World's Fair creaae in groaa, cut expenaes down by $98,183, and at St. Louis was also an advantage to a good many roads Tae St. Louis & hence added $238,164 to its net. Besides San Francisco, with $214,502 gain In gross, inin furniahing increased passenger traffic. all this the month had an extra working day, August creased expenses only $7,020 ; the Union Pacific, with 1904 having contained only four Sundays as against $276,408 addition to gross, enlarged Its expenses by On the other hand, general only $6,700, and the Cleveland Cincinnati Chifive in August 1903. trade remained inactive and the volume of traffic fur- cago & St. Louis managed to add $124,832 to gross nished by the iron and steel industries was very much earnings with an increase in operating cost of but smaller than in the same month of 1903. $3,966. The Janvarv Attguat. (100 roads.) 1904. 1903. t t Oroflt earn's 110,821,635 119.686,743 1 to Auinut 81. (96 roadB.) Inc. orDec 1904. t t 1908. Inc. or Dec. t % +165,892 >-'0 1.883.344 81P,68e,917 -1SS03.673 Southern Pacific amount suffered a reduction of $129,391 but was able to its cut $380,644 off the expenses, thus giving $261,263 improvement in net. There are some roads which gross in of make a showing of the opposite character; that la, lost in gross while at the same time having have Net earn'8 43.168,860 40.913.46B +2,261.781 839.210,616 869,144,087 —19933,471 enlarged expenses. But the number of theae is very The fact that the addition to gross earnings has few. The Atchison Topeka & Sinta Fe Is perhaps most noteworthy instance; that road lost $150,been comparatively trifling is deprived of much of the 399 in gross and added $37,453 to expenses, producits significance by the circumstance that comparison The following ing a decrease in net of $237,862. is with figures in 1903 ^which had shown gains of table shows the principal changes on the separate extraordinary magnitude, so that, considering the in gross and net, whether increases or decreases. trade conditions that have prevailed, the roads must roads 0p«r.ezp... 76,033,385 78,762,274 -8.098,880 5t!5.678,7S8 559,642,830 +6,129,898 PRINCIPAL OHAMQBB be regarded as having done remarkably well in having Increases. maintained (speaking of them as a whole) the high Canadian Paollio level of earnings reached at that time. In the gross Wabash Son them Railway...... Union Paolflo our compilations for August last year showed 115.- Illinois Central St. L. <b San Fran... ) Chlo. dk£ast. 111... S 783,293 expansion and in the net there was an Chesapeake A Ohio... expanaion of 15,534,846. In the years immediately ChloaKO A Alton preceding, too, the record had been good as to groaa though not always to the net, as the following table will — very much so the same extent in make clear. A Nashville Lonls South west... Olev.Cln.Chlo.A St. L. Atlantic Coast Line.... Mo. Kansas ft. Texas.. Louisville SI. Oln. N.Orl.ATexasP.. III GROSS f 398,083 359.361 287,545 276,408 243,105 214,502 174.490 145,898 139,981 125.649 124,80:2 91,457 91,259 83,498 BASMIVOS IN AUGUST. Increases. Mobile <fc Ohio. Mo. Paolflo <b Ir. Mt. > Central Branch ... 5 Seaboard Air Line Tol. St. L. & Western. Nash.Uhat.&St.LoalB Phlla. Bait. & WasL. . Long Island Paoltto Coast Central of Georgia.... Norfolk* Western.... Yazoo & Miss. VaUey. Total $75,066 n\ m'. ' 63,151 60,680 59,146 54,000 51,871 47,387 40,305 34,297 30,732 (representing 26 roads) $3,352,288 — ).. Oct. . THE CHRONICLE. 22, 1904.] Deereaiie«. Pennsylvania Syst. i si (2 roads) t ) ^" Book Island Co Lehigh Valley KB.... Denver & Rio Grande. & Reading '.„ 184,2's6 Olilo. . RR.*. Great Western.. »r. Trunk Ft. Worth $105,546 92,463 67,745 62.970 53,800 31,751 8ye. (3 r'ds) & Denv. C. Colorado A Southern. A Seash.. .. Jersey W. Dalath So. Bh. & Atl. 160,399 129.391 119,096 118,124 Atoh.Top.&SantaFe. Phil. qqq ^^^-ii? 351.721 344,387 Brie Boathern Paolttc Co. Baltimore <k Ohio turns only as to the gross. * /jyy Total (representing 18 roads)... Coal ROADS REPORTING QROSS BUT NOT NET. August. 1904. 1903. Increase. Decrease, Reported above(100 $ $ 9 $ roads) --• •• Ala.N.O. &T.Pac.— a decrease of $569,738. directly operated east and west of t These figures cover only lines Pittsburgh and Erie. The gross on Eastern lines decreased $741,400 and the gross on Western Unes decreased $836,200. N,Orl.&No.Ea8t. These figures are for the Railroad PBINOrPAL OHAHOBS IN (3 r'ds)! Southern Pacific Louisville & NashvUle 8t.L. A Ban Fran... \ Chlo. & E. Illinois S Chesapeake & Ohio. .. Chicago & Alton Olev. Cln. Chlo. & Bt.L. Canadian Pacific Central of Georgia . . . Mo. Kans. & Texas... Mobile AOhio Northern Central Seaboard Air Line Yazoo A Miss. Valley. St. Louis Southwest... Mo. Pao. & Iron Mt. Central Branch . S N. Y. Ont. A West.... Bonthern Railway .... . . AWash Phil. Bait. Toledo Ohio Cent... Se Hash. Cbatt. A St. L.. Kan. City Southern.. Norfolk A Western $42,329 40,355 36,477 34,564 31,148 Wabash. Hocking VaUey Total (representing 89 roads) $3,451,098 Decreases. Book Island Co Lehigh VaUey Atoh.Top.ASantaFe. $385,637 263.939 237,852 79 266 ...... ..... Brie BulTaio Booh' API tts'. 72'.985 Denver & Rlo Grande Baltimore A Ohio Mlnn.St.P.AB.Ste.M. Ohio. Great Western.. Ft. Worth A Den. City WheeUng A 61.330 48.582 37.660 34.021 33.526 30.385 L. Erie... Atlanta Knoxv.&N. Ohio. & North West. AOm. Ohlc. St. P. M Total (representing 11 roads) $1,275,183 119,821,636 119,666,748 199,281 103.061 108,545 63,049 4,929,010 977.702 184,333 8,452,169 185.722 23,362 437,805 477,198 10.396 7.321.269 4,371.171 1,138,130 312.288 199.169 204,020 86,812 107,908 65.928 4,843,748 64,-^43 Ham. & Buft. 898,887 11,000 53,068 881,170 10.400 50,852 Total (122 roads). 145,292.493 144,558,478 Montana Central. ninols Southern... Intern afl & 6t. No. Lake Erie & West'n Maoon & BlrmlnKh. N. Y. Cent & Hud R. — Northern Paolflc... Pere Marquette Bt.L. Van (1. AT. H. & Terre Haute Terre Haute Ind. & Peo.. Texas & Paolflc Tex.8ab.Val.&N,W. Toron. Net 4,739 16,249 687 2,879 85,264 87,975 18.943 148,300 5,285 8,093 19,457 11,174 423 228,640 188,431 119,935 96,138 14,241 10,228 17,717 60O 2,216 968,738 229,718 734,020 inc. (0*51 p. o.) It will 155,892 l,01!i,677 153,276 3,600,469 191,007 15,269 418.848 488,372 10,819 7,092.629 4,182,740 1,018.195 216,150 184,928 54,015 Great Northern Increases. $541,709 601,800 269,708 251,253 289,164 207,482 143,581 128.499 120,836 93,827 83,963 80.993 76,373 68.800 67,344 63,710 61,704 60,052 55,303 54.449 61,500 46,876 Alab. & Vioksb... Vloks. Shrev.&P. Detroit Southern... NET BAKNINGS IN AUGUST. Increases. lUinols Central PennsyL BR. Union Pacific Co.; the total of the gross in the above. Co. reports • In the following table we show these roads and add their earnings to the $3,405,165 & Iron 1679 be seen from the foregoing that when we in- clude the roads which report only as to gross, the increase in gross for the month of August is $734,020, This follows $17,562,898 or 13-74 operated east of lines directly per cent improvement shown by our compilation for t On the Pennsylvania RR. the net on Pittsburgh and Erie increased $152,000 and the net on Western August 1903 over August 1902. or 0-61 per cent. lines increased $849,800. When the roads are arranged In groups according part played by decreased ex- to their location, the penses also is With one minor strongly manifest. exception the resalt for the different groups as to net Oatside of is relatively better than that as to gross. the Mexican group three of the seven groups into which we have divided the roads show diminished of gross; totals cases is and. in neither of these two the falling o£E very considerable. is summary by groups the however, only two of the groups, record diminished net, for Sabj lined August and months ending with August. the for be observed that for this latter period there is only one group which has not sastalned a loss in net, thus confirming what has already been said with reference to the returns being much batter now than they were eight It will in the earlier months. 1904. August. IStt JBaminos. 1«03. 1904. 1908. Inc. or 0«e. $ S lines. (10 88,412.679 34,e67,83( t 11,687.467 1 11,090.017 Anthr. Coal..'5 8.268,730 4.817.-37 8,709,840 8.607,641 8.828,111 4.768,00 8,494.319 2.435,381' 8,653,833 e,109,2U 3,0C8.e68 Trunk Bait. h. Mld.(13 Mid. West'n.il? Northwest era k North P»c.(l8 16.e89,687 18,219,61P Bontb western « South. Par. 17 Banttaem ...(2S Jan. 6,J P. r 1 + 547.450 4 6-7 6 2,299,04P —220,470 +68,980 +769.«07 38-C4 89,085 6,017.467 +a71,61S 4-61 17-57 29.77-' .881 30.369,89 10.389.69S 10.402,492 18,061,678 16.621,841' 6,691,48' 4.840,994 -12.897 +950,493 I19.S2 1,686 119.666.743 94 242 0-12 43,168,260 40,913,46H +2,254,781 6-61 3,629.43* 1.187.44S 853.06: +185.888 19-47 lines.. 10; 242,2B0,86S 2B3.826,Sefl TotaldOOr'ds Maxloan. (31 8,6E6,424 1 U> AViQ. 31 Tmnk Anthr. Coal 61,676,157 Mld.(12' 26,llfl,9fl9 65.646 8il 28,674,52- Mid. We8t'n.(16) Northwestern & North Pao. 13) Boath western & Booth Paa.(16i Southern ....(26; 57,627,318 58,212,200 East. (I; (4 65.836.620 76,960,635 -11,124,015 14-46 24,663,346 86,447,843 -1.781,"98 6-74 7.428,651 8,124,642 — B«7,991^ 8-59 16,617 419 17,11!9.981 -1,512.532 8-83 119,067,848 117,802.2)) 89,186,614 40,601.8(2 -1.816.278 8-26 157,066 628 168.216,012 46.185.18i 50,090 281 -4,714 15 (1*41 I41,i75.»&e 130.480,887 41.093,815 89,8b0.418 + 1.213,4J2 3-01 Total (96 r'ds) 4i04.8b8,844 818.686.917 !89,810,ei6 239,144,087 -19,9*3,471 769 Mexican (Z) 19,408,447 18,622,766 4,3^9.111 4,608.765 Besides the roads which contribute gross and sale having been made in March 1903 at 4305. Shares Banks— flTew For*. Price. Last previous sale. 5 Cbemtoal National Bank 4297-4325 Mar. 1903— 4305 *5 40 57 10 *60 Commoroe, Nat. Bank of Corn Exchange Bank 394''8 Fourth Na'lonal Bank 2I6-ZI914 231 Germanla Bank 600 Meohanlcs' National Bank 262ia Trust Compasies -UTew lork. 10 Bowling areen Trust Oo 210 10 Broadway Trust Oo 16iH 28 Mercantile Trust Oo 1000 15 U. 8 MortRage & Trust Co 404 Thubt Compasy— Brooklyn. 252i4 25 Nassau Trust Oo 19041904— 1904— Apr. 1904— Oct 1994- Oct. Oct. Oct. 230 395J4 223 601 257 Sept 1904— 2101* 1904- 145 1904— 1000 Aug. 1904— 418i« Apr. Sept. Oct 1904- 255 —An increase has been made by the American Exchange National Bank of this city in its semi-annual dividend payment. Since 1901 4 per cent semi-annually, or 8 per cent per year, has been distributed. The declaration this week is 5 per cent, payable Nov. 1. BT OBOUPB. Qrot* JDarninof. QBOUF. which 55 shares were sold at the Stock Exchange and 112 shares at auction, Tae transactions in trust company stocks reach a total of 88 shares. A small lot of stock of the Chemical National Bank, whose shares command a higher price than those of any other New York bank, was sold at prices ranging from 4297 to 4325, the last previous shares, ot 'Sold at the Stock Exchange. BUMlf ABT Bionoif oB ITEMS ABOUT BANKS, BANKERS AND TRUST GO'S. —The pnblic sales of bank stocks this week aggregate 1&7 net, there are t —It is reported that three memberships in the New York Stock Exchange were transferred this week and the consideration in each case is said to have been 180,000. —Shares of the Pan-American Banking Company to the amount of 8,000 are being offered for subscription by the Mount Vernon National Bank of Boston. The stock is offered until November 3. The price is |20O per $100 share, payable 10 per cent on allotment, 20 per cent in one month, 20 per cent in two months, 25 per cent in three months and 25 per cent in four months. The authorized capital and surplus of the company are $500,OJO each, of which $300,000 each have been previously subscribed. The Pan-American Banking Company is one of two concerns organized to take over the affairs of the International Bank & Tr .st Company of America, which latter went into receiver's bands last December the other cjmpany is the Pan-American Securities Company. Aq stat^^^d in our issue of April 30, wherein full detail-) rt^gardiog the two institutions were given, the ; -109,664 2*43 reports sb to some others which make re- Pan-American Rinking Company is the active or operating company. OflBces have already been established in New York at No, 91 Wall Street and In Boston in the Old South Balldlng. Branches are also operated in Chicago at No. 185 , THE CHRONICLE. 1680 [Vol. Lxnx. Dearborn Street and in Mexico, and preparations are now of mlBapproprlating the bank's funds, leading to its sospenmade to open branches in New Orleans, San Francisco, sion in February 1903. Vera Crnz, Tampico, Gaadalajara, Santiago, Rio Janeiro, The Mechanlos' Trust Company, Bayonne, New Jersey, Bnenos Ayres and Lima. Mr. W. H. Hunt la the President is distributing a useful map, showing Bayonne's accessibility of the company, George E. Foeter is Chairman of the to New York audita proximity to Jersey City and Staten board, W. R. Travers is the Secretary and Robert Leslie Island. The company's bank building is situated opposite Moffett, connsel. the West Eighth Street Station of the Central RR. of New —The Chelsea Exchange Bank, 259 West 34th Street, which Jersey, a short ride of a few minutes from New York. The was recently granted the privileges of a non-member bank in Mechanics' Trust is the only company in New Jersey that the Clearing Honse Association, commenced to clear throngh clears through the New York Clearing House and maintains the Oriental Bank on the 10th inet. The Chelsea Exchange a cash reserve according to Clearing House rules. The inBank started business April 30, 1903. The officials are: stitution was organized March 1 1886, and has $50,000 Irving M. Shaw, President; H. H. Tyson and P. A. capital, $150,000 earned surplus and $2,321,203 total assets. Q-eoghegan, Vice-Presidents, and A. E. Stilger, Cashier. Its Its official staff Includes Charles S. Noe, President; George» W. Young, Vice-President; Do Witt Van Buskirk, Secrecapital is $100,000 and surplus $50,000. tary, and O. L. Gubelman, Treasurer, Brooklyn has lately been organized by being — : —A new institution —Authority and loan associatioas, to be called the Bank of the Commonwealth. The bank will open for business at 186 Montague Street, when one of the buildings now being erected on the old Academy of Music site is completed. The concern's capital stock of $100,000 was sold principally to building and loan interests at $110 per share, $10,000 going to the surplus account. The bank expects to act as the fiscal agent for all the local building and loan associations. The officers will be George L. Montgomery, President, Anthony J. Burger and A. C. Fischer, Vice-Presi dents, and Edwin T. Howell, Cashier. The board of directors includes all the officers and the following: Fred. Cyrus Leubuscher, David B. Hutton, Louis M. Pearsall, John B. Sabine, Thomas H. Mallon and Edward H. M. Roehr. interests prominent in local building Banking a meeting of the directors of the Central Trust & Savof Philadelphia on the 15th inst., $25,000 was added to the surplus, increasing the amount to $160,000, and $8,702 was credited to undivided profits out of the earnings of the past six months, The company has been In existence but a year and a half, having commenced on April IB 1903. It has a capital of $500,000. —At ings : —The Brooklyn for the conversion of the Freehold Company of Freehold, N. J., to the National Freehold Banking Company was granted at Washington on the 14th inst, Company —Preliminary steps have been taken to organize the Bel- mont Trust Company, a new Philadelphia institution. The company is to be capitalized at $250,000, the par value of the shares being $25. branch of the State Bank of this city It will locate in the vicinity of Forty- ninth Street and Baltimore Avenue. its new building in the Brownsville section, at the —Mr. David R. Locher has been elected President of the corner of Stone and Pitkin avenues, on Monday. The prop- City Savings Fund «fc Trust Company of Lancaster, Pa., to erty was purchased by the bank over a year ago and pend- succeed his father, the late Charles H. Locher. ing the construction of the present building the branch has committee, composed of [Messrs. Stein Brothers and made its headquarters on Stone Avenue. Mr. William Roth Hambleton Company of Baltimore and E. B. Smith Co., The institution, is the manager of the Brownsville branch, Philadelphia, has made an offer to purchase from the stockwhose main office is at 378 Grand Street, this borough, has reholders of the Baltimore Trust Guarantee Company of cently been making considerable progress. In its statement Baltimore a sufficient amount of the stock to constitute a to the New York Clearing House last Saturday the average controlling interest. The syndicate, which announces amount of net deposits was reported as $9,248,000, which that it represents a large interest in the stock of compares with $7,373,000 a year ago—that is, October 17 company, offers $300 per share in cash, or a the 1003. The capital is $100,000 and the surplus and profits participation in the profits, if any, of the liquidation $682,200. of the company or the sale of the deposited stock. The Under the caption of "Modem Banking Methods, as offer is to become binding upon the deposit of a majority Practiced by the North Side Bank of Brooklyn," that insti- of the stock with the Fidelity Deposit Company of Marytution has issued a neat booklet containing excellent maxims land. President Davidson of the Baltimore Trust Guarfor the safe conduct of business. antee Company is quoted as saying that he does not believe —The projectors of the Home Trust Company of New a majority of the stockholders will assent to the institution's York, which is to operate in this borough and Brooklyn, liquidation. He adds that the book value of the stock is held a meeting last week to further the company's organiza- approximately $340 per share, and if a proposition is made to tion. Messrs. J. Edward Swanstrom, James Noel Brown, purchase a majority of the stock the figures must be much Thomas P. Peters, Audley Clarke and James Weir Jr. higher than $300, The company's capital at present is $800.constitute the committee on organization. The institution 000, the amount having been reduced from $1,000,000 in the will have a capital of $500,000 and surplus of $250,000, and spring. This reduction, it is stated, was the outgrowth of t is expected to be ready for business about the first of the efforts to liquidate the company at that time, and $300 per year. The par value of the shares will be $100 and the share was paid for the stock retired. subscription price $150. Mr. Joseph C. Hendrix, former Several important events in banking circles occurred President of the National Bank of Commerce, this city, is to this week in Washington, D. C. A consolidation of the be Chairman of the allotment committee. It is understood National Metropolitan Bank, capital $300,000, and the Citithat the oompany will make a specialty of small loans. consummated on sens' National, capital $500,000, was opened in —A & & & — & & — —The North Adama Trust Company of North Adams, Wednesday, the union being effected under the name of the whose application for a charter was approved last National Metropolitan Citizens' Bank. The consolidated month, was formally organized at a meeting on the 15th bank has a capital of $800,000 and a surplus of $700,000. Mr. inst. Col. F. S. Richardson has been elected President George B. Appleton, who several weeks ago became PresiGeorge P. Lawrence, Vice-President, and George A. Mac- dent of the Citizens' National, when the bank went under Donald, Treasurer. The company is to have a capital stock new control, has been chosen as President of the enlarged of $200,000 and surplus of $50,000, consisting of 2,000 shares bank. The other officials are: John H. Moore and S. W. of $100 each, the subscription price of which is $125. The Woodward, Vice-Presidents; J. Gales Moore, Cashier, and Berkshire National Bank of North Adams (capital $200,000) William W. W. Parker, Assistant Cashier. The three last named were all prominently identified with the National is to be liquidated and its business taken over by the new Metropolitan Bank, while Mr. John H. Moore^was a Vicetrust company. Mass., • —Albert Twining of the First National Bank of Asbury Park, N. J., was sentenced on Monday to six years' Imprisonment by Judge Lanning of the United States District Court at Trenton. An order was subsequently granted to take the case to the United States Circuit Court of Appeals. Pending the new trial Twining has been released on additional bail to the amount of $6,000. Twining was convicted on the charge C. President of the Citizens' National. —Coincident with the merger of the National Metropoland the Citizens' National banks, the opening of the new Commercial National Bank of Washington took place. The organization of the latter, with $300,000 capital, was approved by the Comptroller on the 14th inst. The former President of the Citizens' National, Mr. Frederick C. Stevens, itan THE CHRONICLE. Oct. 22, 1904.] 1681 His associates are has an authorized capital of $1,090,000, one-half of which, it the President of the Commercial. George is stated, has been paid up. A general trust and safe deposit Robert A. Chester and N. H Shea, Vice-Presidents W. White, Cashier, and R. E Clauathton, Assistant Cashier. business will be conducted by the new institution. Mr. Shea was previously a Vice-President of the Citizens', An increase of $200,000 has been made in the capital of while Mr. Chester was its Cashier. the Second National Bank of St. Paul, raising the amount to The stockholders authorized the increase last transfer of the Tradesmen's Building has been made by $400,000. the Tradesmen's Land Company and the Tradesmen's National week, payment therefor being made by the declaration of a Bank of Pittsburgh, to the Columbia National Bank. The dividend of 100 per cent from an accumulated surplus fund of building is a six-story structure, corner of Wood Street and $200,000. An option was given the stockholders of accepting new stock or the cash dividend, and it is stated that all have Fourth Avenue. The property is valued at over $1,000,000. —The Capital Safe Deposit & Trust Company of Columbus, signified their intention of taking the additional stock. The directors have set aside $40,000 out of this year's earnings, -Ohio, has been incorporated with a capital of $200,000. Walter is ; — —A D. Guilbert, E. M. Fnllington, A. B. Steward, Joseph E. Blackburn and Lakin C. Taylor are the incorporators. —The Cleveland Trust Company of Cleveland, Ohio, as assignee, has sold for $47,500 the property of the Produce Exchange Banking Company, corner of Broadway, Woodland and Cen'rai avenues. hands in January. The institution went into receiver's —With %% per cent, payable November 10, the annual dividend rate of the Fifth National Bank of Cincinnati is increased from 8 to 10 per cent. Up to a few years ago but 5 per cent per annum was paid on the bank's stock. The institution continues to show advancement in other directions. Its aggregate resources now stand at $6,481,065. The deposits at the call of the Comptroller on September 6 were $5,079,866, as against on September 9 a year ago and $3,628,670 on September 15 1902. $4,710,319 —Mr. Charles A. Hlnsch, President of the Fifth National of Cincinnati, has disposed of a portion of his interest in the First^National go into the new surplus fund. —The new Denver bank, the United Bank of Elmwood Place, Ohio, to Mr. Alfred Hess, the latter thereby securing control. Mr. Hess will become President of the Elmwood bank on January 1, when the present head, Mr. Walter Laidlaw, will become Vice-President. —A movement to establish a new Cincinnati bank is nnd^r way. The name of the institution is to be the Stock Yards Bank, and it will have a capital of $100,000. Mr. E. B. Stanley is principally interested in the organization of the bank, which is to locate in the west end of the city, at Spring Grove Avenue and Hopple Street. States National, opened for business on the 10th inst. at the corner of SevenPrevious items concerning this teenth and Curtis streets. institution were published in our issues of September 8 and 24. —The effects of the declaration of a quarterly dividend of Bank to the American National Bank of Richmond, Va., were transferred several weeks ago to the bank's handsome new building at Tenth and Main streets, and on Mon- day the 3d the institution commenced business in its new quarters. The structure has been in course of erection for the past fourteen months. It is of steel and brick, making Mr Oliver J. Sands is President, Mr. it entirely fireproof. Chas. E. Wingo, Vice-President Mr. O. B. Hill, Cashier, and Mr. W. Holladay, Assistant-Cashier. ; —The Wake County Savings Bank is the latest financial N. C. The bank will quarters on Martin Street are available. institution to organize in Raleigh, open as soon as its The authorized capital —Mr. is $100,000. V. Grainger has been elected Vice-President of the Murchison National Bank of Wilmington, N. C. J. —The banking rooms of the City Savings Bank of Nashhave practically been remodeled, and the exterior of the bank's building has also recently undergone extensive improvements. Mr. H, L. Fox lately became Cashier of the ville institution. —A charter was granted on the 12kh inst. to the Trades Union Savings Bank & Trust Company of Memphis, Tenn. The institution is to have a capital of $50,000. —The Merchants' Trust Company of Los Angeles, Cal., announces the opening of a banking department. This financial institution began business only a few months ago, and is erecting an attractive seven-story building, which will be ready for occupancy January 1 1905. The company will occupy the main floor, and will be completely equipped for a trust and general banking business in all departments. Its authorized capital is $500,000, with $250,000 paid up— until corporation. the actual demands require the remaining 50 percent. W. —Mr. Frank A. Vanderlip, Vice-President of the National L. Brent Is President, and among the directors are W. F. City Bank of New York, was one of the principal speakers Botsford, President of American National Bank; John W. at this week's annual meeting of the Illinois Bankers' AssoA. Off, Cashier of State Bank & Trust Company; W. N. ciation held at St. Louis. Mr, Vanderlip reviewed the counHamaker of the First National Bank, and Mark 6. Jones, try's financial record for the last ten years, and o£fered the County Treasurer— all of Los Angeles. opinion that the next ten years is to see, to some —The International Savings &, Exchange Bank opened for extent, repetition of a the development of the past decade. This address is referred to more at business several weeks ago in Los Angeles at 226 North length in another column. The remarks of Hon, Spring Street. The officers of the institution are Mr. John William Barret Rldgeley, Comptroller of the Currency, on Lopizich, President; Jules Kauffman, A, Fusenot, Leon "Bank Examinations and Failures," also attracted considera- Escallier and Morris Orsatti, Vice-Presidents, and Charles ble attention. Other speakers at the Convention were: Mr. Ewing, Cashier. —President Smith, of the Northern Trust Co. of Chicago, has canceled the lease which he took during the the summer months of the banking floor of the Republic Building at Adams and State streets. This would seem to indicate that the intention to establish a branch of the institution had definitely been abandoned. It appears that the project could not be carried out without the formation of a separate George M. Reynolds, Vice President of the Continental National Bank of Chicago; J. C. Van Blarcom, Vice-President of the National Bank of Commerce, St. Louis; Seymour Walton, representing the Illinois Society of Certified Public Accountants, and Hartman Baker, Cashier of the Merchants' National Bank of Philadelphia. Mr. E D. Durham of the Onarga Bank, Oaarga, 111., is the new President of the Association. —The Citizens' Savings & Trust Company has been organ- ized in Eaet Bt. Louis, 111, with $100,000 capital. Officers have been elected as follows: President, Henry D. Sexton; —The Union Savings Bank of Riverside, which lately charter to the International Savings & Exchange Bank, has filed amended articles of incorporation under the new name. The plaoe of business has also been changed to Los Angeles. The institution has a capital of transferred its $50,000. — With the completion of its safe deposit and storage vaults, the Mercantile Trust Company of San Francisco takes occasion in a neatly prepared booklet to acquaint its patrons with the facilities possessed by it for the safe-keeping of The vaults are located in the company's building California Street, which was erected about a year ago valuables. Vice-Presidents, Ed. Wallace and W. H. Hauss; Secretary and Treasurer, L. B. Washburn, and Assistant Secretary and at 464 Treasurer, Paul S, Abt. The company has taken offices in the Sexton Building at 31 North Moore Street. —It Is reported that the Central Trust Company of San Francisco will absorb the Federal Trust Company of the same city, An item concerning the organization of the latter was published in the Chronicle on January 16. Of —The incorporation is announced of the American South. weatern Trust Company of Kansas City, Mo. The com pany for the sole use of the corporation. THE CHRONICLE. 1Gb!:: the authorized capltni of $6,OC0,00O, $1,000,000 was isened. The company engaged in a strictly traat baeiness, receiving DO deposits. The Central Trust Company has an anthorized to January IttOS Trust Company. " —The Bank weakening caased by Russian reverses. Of calculated to give courage to the French investor. But it is to be recollected that the Government is pledged to introduce an income tax in the coming serslon, ably this San Francisco has been granted a Board of Bank Commissioners. The of Italy of license by the State the itself this is The name of was the Qermania and what may happen, capital of 18,000,000, with $1,5CO,000 paid in. this Institntion prior events, Vol. lxxix. bank has an authorized capital of $300,000, which is paid in. —Mr. W. K. McNaught, who is one of the men in Canada, was recently elected a director one-half of best krown of the Sov- is therefore, cannot be foreseen. Probone of the reasons why, for the time being, the French investor In Germany is cautious. business is active. During the week ending with September there was an increase in the note circulation of the Imperial Bank of Germany of nearly 153^ millions sterling, almost all of which was subject to duty, showing an extraordinary demand for accommodation. This was, however, not entirely due to the trade demand, for the Imperial Bank has all through this year been financing the Bank of Canada. Mr. McNaught is President of the American Watch Case Company, President of the Toronto Government. Trade is decidedly active in Germany and Industrial Exposition, Chairman of the Tariff Committee of there has been a very considerable rise in the prices of all the Canadian Manufacturers Association and a director of bank and industrial securities. the Gore Mutual Fire Insurance Company and of several Here at home, owing to poor trade, many persons have other important concerns. been thrown out of employment, and grave fears are enterereign tained that there will be much distress during the coming winter. In consequence, the President of the Local Govern- ment Board has of Guardians to [From our own oorrespoiident.] hould be taken called a conference of Metropolitan Boards meet on the 14th and consider what steps to relieve distress. London, Saturday, October 8, 1904. There has been an undue fall in the rates of interest and The improvement that set in in the stock markets last discount during the week, partly due to the payment of the week has been continued throughout the present week. For interest on the national debt and partly to the scarcity of the past two or three days, it is true, there has been a set- bills. Bills have been as low as 2^ per cent. In consequence the foreign exchanges have turned against this country, and the French banks have reduced the balances they the tone is quite different to what it has been for a long time have been employing here for so long. It is said that they past, people now taking a more hopeful view. They are have done so partly because they find it much more profitable confident that there will ba no complications arising out of to employ those balances in Germany than in London at the the war, that money will continue abundant and cheap, and present time. The best opinion is that the fall in rates is that trade is about tu improve. The general public is not now arrested and that there will be a recovery, for the deacting very freely as yet, although the bona fide investor is mand for gold for Egypt and Argentina has set in. Some of moie in evidence than he has been for a long time past; bat the gold which was sent from India and was confidently exprofessional operators are dealing much more boldly than pected to go into the Bank of England has been stopped on the for years. For a long time there has been little dealing ex- way and sent to Egypt. Egypt just now is exceedingly proscept by members of the Stock Exchange. Now there Is perous. Business of every kind is very active, and theregood buying by professional operators, and there is a de- fore it is estimated that the demand for gold will be larger this year than In previous years, and last year it was very cidedly increased investment. For the time being, at all events, the opinion of leading considerable. Moreover, it is feared that the gold demand bankers and leading members of the Stock Exchange is that for Buenos Ayres will be very large. A shipment has taken the best business will be done in consols, Transvaal threes, place this week and others are expected to follow soon. The wheat harvest in Argentine does not begin until Delocal loans stock and Irish land stock, all stocks having the security of the British Government. These stocks are un- cember and therefore it is too early yet to form any opinion doubtedly cheap, and, though the interest yielded is small, as to what the crop will be, The area sown, however, is the prospect of a material appreciation of capital value Is larger this year than last year, and hence, if the weather is There has also been a good deal of invest- favorable, the crop ought to be unprecedentedly large. The very attractive. ment in British railway stocks. Trade for the moment is other crops will not be gathered in until later still, and connot very good, although there is undoubted improvement in sequently nobody can judge at present what the balance of cotton goods, and there are signs of improvement in other trade in favor of Argentina will be. Two years ago the directions. The best opinion here seems to be that we are balance was so large that in the course of six or seven about to witness a decided improvement in trade. If that months Argentina was able to take millions sterling in happens, railway traffics will of course largely increase and gold. Twelve months ago, although the balance of trade with them railway dividends, for the directors and managers was even larger than in the preceding year, the gold taken of our railways have for two or three years now been earn- emounted to only 5 millions sterling, the difference being estly endeavoring to work more economically than they did. made up partly by increased imports of goods and partly by Early in the week there was also a decided improvement purchases ot Argentine securities in London. It is impossiin mining shares, but in the latter half of the week they fell ble, therefor, to foresee what is likely to be taken. But the back. Perhaps, however, next to consols, the most active impression in London is that it will be something more than market was in Argentina Railway securities. The traflBlc re- last year and less than the year before. The main fear, however, is that the United States may returns are exceedingly good, and two of the principal ArgenThe Egyptian and Argentine demands reoar tin railway companies have just issued very satisfactory re- quire gold. every year, and therefore are more or less provided for. But ports; each paying 7 per cent for the year ended with Jane. In Paris there has not been a great deal doing, the un- the United States demand cannot be estimated, however favorable view taken of Russian chances of success in the roughly, and therefore cannot be provided for. Nobody in war causing a rather depressed feeling. The French public London is able to form any opinion worth repeating as to for the time being is, therefore, not inclined to act very whether gold will or will not be shipped to New York. But if freely. There is an impreseion in Paris, however, that bufci- the belief is very strong here that there is not a ness on the Bourse will improve unless on the meeting of large American demand for gold there will be no need to the Chambers the opposition to the Government should prove raise the rate of discount of the Bank of England. Whereas, unexpectedly large. The French Government has just con- if there is a strong American demand, the Bank^of England cluded a very satisfactory arrangement with Spain concern- rate will have to be put up. The India Council continues to sell its drafts well. It ing Morocco; and it is understood that the French bankers are about to co-operate with the Spanish Government to bring offered for tender on Wednesday 50 lacs, and the appliabout a steadiness in the Spanish exchange. This arrange- cations exceeded 368 lacs at prices ranging from Is. 4d, to Is. ment with Spain strengthens the political position of France, 4 l-82d. per rupee. Applicants for bills at Is. 4d. and for which is now on cordial terms with England, Italy and telegraphic transfers at Is. 4 l-32d. per rupee were allotted Spain, Const qaently it neutralizes, to some extent at all about 13 per cent of the amounts applied for. back in the mining department, and there has been a good deal of profit>taking in other departments. But for all that, : : position of the Bank of The following return shows the price of consols, &c. the disoount, England, the Bank rate of years three last compared with the : 29,271,770 7.402.447 44^401.825 20,0H6.C58 87,268.138 28,ae8.4Z4 83.110.194 28,676.146 circulation. 8,,i81,883 Publio deDOSlts ^qStI'hm Other deposits 18,044,983 securities Government 23.e'J7.503 other securities •• 87,683,777 coin. and uuiu.... notes anu of noies Reserve or Keserve ZVanSi)^ 91.9m,VM departm'ts Com & bullion, both ea** Prop, reserve to liabilities, p. c. ....percent. » Barirate «« per cent an 4 «fl9ai4 000 8fl8.4i4.w»J« ClearlnK-House returns * October 8. * 29,863.820 7,000,848 46,384,775 18.822.561 28,940.207 28,020.877 84,718,197 80,0Be,666 month*. 2r«(t«.Siili, 6 ~8 2M®2 8 Oct. 7-14 Days Call ~m Ik IM 1}4 2« IM IM rates at the rate of discount and open market as follows been have cities Continental chief The Bank Oct Inter $tt at Bank Open Bate, Marke Povfa ,,.. 8 Hambnrx 4 4 rrackfort 4 Ajniterdam 8 8 RAHIn Brniieli Bt.Peteribarit.. Madrid OoDenhagen. .. ""im" Bank ~8 3« i% i% iH 3M 6» 4M 4H nom 8 4 4 2M 2H 8 8 3 8H 5« 4« 4H 3>4 nom. 3 4 8^ 4 4 SV6 4 S 3 8 4 m 4 26% & Santa Fe. Baltimore SH 8X 2« 2H 3« nom. 4 SH 4 8 8 4 5« iH 4M nom. 87% 87% 87% 104^ 104 12 98 98 104% 97% 104% 97% 30 85 343a 71^8 49ifl 2d preferred 149 Central Louisville «6 Nashville. 136 15Jfl Mexican Central Mo. Kan. & Tex., com.. 2908 ttO Preferred 42 Nat. BB. of Mex.,lst pf 139 Hudson.. N. T. Cent. <& N. Y, Ontario & West-. 36% 7538 Norfolk & Western 95 Preferred Illinois 118 6908 37»« 2d preferred* Southern Pacific Southern Railw., com.. 3608 71% 49% 72 50 140% 16% 139% 138% 78% 96 118 69^8 117% 37 88 44% 41 64 Union Pacific 110>4 97 1« 2108 82''8 2238 84*8 21i« 22 44 68 1« 94 70% 38% 44% 41% 64% 35% 97% 98 110 98 22''8 85% 22% 45% 70% 44% 68% 74^8 51% 52 148% 139% 149 139% 17% 80% 30 117% 3538 85% 37% 74 3738 70 64% 36% 97% 110% 97% 21 176% 31% 17 87% 74% 95% 74% 20 81 85 3678 30% 59% 43% 138% 37 46 176% 17 17 99% 137% 46% 148% 139% 30% 59% 43% 30 60 42 97 'e 99 137 62 149% 139% 150 97% 84% 87% 73% 85 44% 97 "B" 30% 31 105% 105 137% 46% 20% 89% 88% 98% 176% 3414 98-02% "473" 4 'a 19 41 Preferred 5 173% 44ifl 85«B Wabash 47 19 174 «« 30 86 41 62ifl Preferred U. 8. Steel Corp., com.. Preferred.... 136% 88% 88iite 98-05 6% Preferred Debenture 8^ 8808 8S9,e 98% 136% 46% 2678 881118 2613,8 88% 8708 97 FH. Thun. 97-90 6J« — Preferred 8 SH 26^8 87^8 9714 Northern Securities Pennsylvania Phila. A Beading * Wed. 26"% 883,8 5ie & Ohio Preferred Tuei. 26% 88^ 88>4 Anaconda Mining Alch. Top. Preferred jifon. 86 14 88% 883j8 885,8 97-80 97-82^ 97-90 87 87 1st preferred* Open Bank Open Bank Bate. Market Bate. Marktt Batt. Mark* Open 4 3» 6M 4K 4» Sept .17. Sept . 24. Oct .1. S. BaU$of Fr'ch rentes (In Paris) f r. Spanish 4s Erie, common Ist preferred......... 89i®8 2M 2 0-16®! 116 3-ie®2M For account OU'tH'i Jo<ni 3®8M 2 11-16@25. 2M92M per ounce.... d. OonsolB, ,new, 2 »« p. ots Silver, Den.& Rio Gr.,com.... 8M 27^8 m@i 7-16 8aU LOHDOH. Int«r«it ailowM for Sepo$ittb% 8 2 6-16®T-16 6-16 166,407,000 Monthi 8Moi. 4Mof Banki 2T<@8 »-ia®<^ 2 Sept, 92 lB-16 26 Jl-lfla Stocl ilt Month* 4 3 as follows Bank suit. • 13608 Canadian Paclfle 461s Chesapeake & Ohio Ohio. Great Western... 19 174 Paul... Chlo. Mil. <k St. Ottn Market Bat*s. London 8,27.3.n33 44,771,655 l».51H.7f5 26.312.442 25,09l,«60 27,873,305 47)^ 83 1-16 28a. 190,770,000 211.789,000 .«ii,<»o,ww money have been i 1 88 16-16 27 9-ied. mmo Silver....,;. Oct. 8. » s rates for 1683 Enellsli FInanelal Ilmrfcets—Per €a«le. London The daily closing quotations for securities, etc., at Oct. ending 21 week the for are reported by cable as follows 1901, Oct. 9. 1902. 1903. Oct. 7. 1904. Oct. S. The — .. THE CHRONICLE. Oct. 22, 1904.] Consol s, — . 68% 42% 188% 87% 75% 95% 137% "76% 116% 117% 6978 70% 89% 46% 59 43 96% 89 45 41% 63% 35% 98% 48 6308 35% 98% 110 98 110% 10938 98 98 2208 21^8 2108 84% 83% 22% 88% 22H 45 69% 23 46 46% 70% 69% Price per share. 8 ^ommtxcinX aixct W^xsttllmicou^W^^^ 4 Messrs. Pixley & October 6, 1904: and the price has Gold—There has been a keen demand for gold, to Paris, where the rl8en to 778. lOd. The centre hae. however, shifted Bank ^SoS-OOO.lif ««"^« the At 2514ifl. as cheques have been as low for aooonnt of the India to hand m sovereigna, of which a 50 0.0 00 Is which of withdrawn, Against th 8 £605.000 have been Oonnoll. Boinbay. 4450 000 foes to Egypt. Arrlvale: Cape Town. *380,000; Africa, £236:000; Australia, £31.000; New Zealand, «12 OOO; WestBombay, Shipments: AIS.OOO; River Plate, 417,000; total, ii679,000. £79 800 Bllver-Partly owing to the scarcity of cash sliver for Immediate Ks. shipment to India, and partly to the fUllng of a French tender of round about 263id.. 17,500. the price of silver has kept fairly steady and the outside nntll to day, when the Indian demand being satisfied close dull. Inquiry being moderate, we have fallen to 269i6d.. and being due to discount the cash, ^d. under Forward has been about "s. otj^^. sales on Eastern account. The Indian price Is quoted at ArrlvaU: New York, *50,000; Australia £4 000; total «5t,000 A2,500; Madras, «10.000; Calcutta, Shipment*: Bombay, *130,000; Abell write as follows under date of , °Mexioan Dollars—There have been a few transactions In dollars at 'ed. under the rrlce of silver. The quotations for bullion are reported as follows: DIVIDBNDS. Jfome 0; Per When Cent Payable Company, Railroads (Steam). Northern Paolflc (quar.) do (extra) do 1% Nov Nov Mar 2 Beading, Ist pref Street Railways. 2>a Oct Brooklyn City BB. (qnar.) Cal. Gas & Electric, Han Fran, (mthly) 2BC. Oct California 81.. San Francisco (mthly).. 75c Oct Nov North. Texas Trao., Ft. Worth (qnar). Presidio & Ferries, San Fran, (mthly) 20c Oct Electric Co Tampa (Florida) Twin City R. T., Mlnneap., Nov 1^ Nov 6 com,(qnar.) Banks. American Exchange National Oermanla Ott. London Standard. 6. s. d. Sept. 2%. s. ' Nominal. Oct. 6 Sept. d. d. d. oz. 77 10 77 9»4 gold, fine 76 iH U. 8. gold ooln...oz. 76 5 Germ'n gold coln.oz. •76 6»4 *76 5>4 Fren oh gold ooln.c z. *76 5 •76 5 Japanese yen. ...oz. •76 6 •76 414 Bar 81LVEK. London Standard. Bar Do silver, fine... oz 2fc»is 26% 2 mo. delivery 2eBi6 26>« — — Bar silver.contaln'g 6 grs. gold rz. 27118 27 >4 371,6 cz 26's cz .ieiiie 26''« 2813,8 cz 28 »8 Mexican doUars.oz. 25* 26V 4 grs gold 5 grs. gold Cakefllver The following shows the Imports of cereal produce into the United Kingdom during the five weeks of the new season compared with previous seasons IMPORTS. 10046 Imp'ta of wheat, cwt. 9,942,800 3,091,600 Barley 1,101,000 Oats 234.796 Peas 310,561 Beans 4.649.600 Indian com 1,044,800 Flour on September 1902-3. 9.324.748 3,988,207 1,887.266 180,759 315,862 2,994.801 1,955,610 1904-6. 1,044,800 Imports of flour gales of home-grown. 1,686,621 12,673,721 Total vrr.prloe wheat,week.29a lOd Average price, season. 29s. lid. Wheat qrs. Flour, equal to qrs. MaJie...^ qrs. 2. 1903-4. 9,293,609 2.100.988 1,894,980 1902-8. 9,324.748 1.955,610 1,941.230 1901-2. 6,287.000 1,814,700 3,646,959 18,289.677 18.221.688 11,648.659 27b. 10»«d, 288. lOd. 26s. lOd. 27s. 6d, The following showa the quantities of wheat, afloat to the Onited Kingdom maize 1901 6,287,000 3,548.400 2,062.700 160.600 835,100 4.584,800 1.814,700 (exclusive of stock 1): Wheat Imported, cwt. 9.942,300 25s. 26s. 8d. flour and Od. 135.000 1,265,000 Latt teeek. 2.620.O0Q 135.000 1,260,000 Nov Nov Mar Oct 14 to Oct 16 Oct 21 to Oct 31 Nov Nov to to Nov 15 Nov 16 1 1 9 2 Holders of reo. Oct 18 Nov 2 to Oct 20 Oct 31 to Oct 19 10 Farmers' Loan & Trn8t(qnar.) Hamilton, Brooklyn (qnar.) (No. 50).. 2 3 Kings County, Brooklyn (quar.) Not Nov Nov Oct 22 Oct 26 Oct 2a to to to Oct 31 Oct 81 Oct 81 Nov Oct 28 to Nov 13 Pacific (quar.) Trust Companies. Amalgamated Copper (quar.) American Dist. Teleg. ot N. J. (quar.). Amer. Graphouh., pref. (qnar.) (No. 38) American Light A Traction, com do do do pref. (qu.) Anaconda Copper Mining Vj 1 1^4 1»« m & A U. S. Oct Nov Nov 1% Nov 500. Nov Nov l»a Nov Claflln (H. B.), let pret. (qnar.) 2d pref. (quar.) do do 1»4 National Fireprooflng, pref. (quar.) 3 Procter* Gamble, com. (qnar.) 1 Milling, pret Standard 2 RR., pref. (quar.) Tenn. C, Iron 2 (No. 27) pref. (qu.) Potteries, Trenton Shuttle, com. (qnar.).. $1 60 U. 8. Bobbin 75 $1 (quar.).. pret. do do do 2 Express (No. 142) Oct Nov Holders ot reo. Nov 1 Nov 2 10 Oct 23 Nov 2 to Oct 23 Oct 30 to Oct 23 Not 1 to Oct 23 Not 1 to Oct 23 Holders ot reo. Oct 18 Holders of reo. Oct 81* Oct Nov Oct Nov Nov Not to Oct 26 Holders ot reo. to 31 Oct to Oct 21 Nov 1 to Not 1 Oct 20* Not 1 Not 1 Nov 15 1908-4. 1,680.000 446.000 1,106,000 Anction Sales.— Among other securities the following not regularly dealt in at the Board, were recently sold at auction: By Messrs. Adrian H. Muller 67 Fourth Nat. Bank... 216-219% 20 Union Nat, Bank, Troy, N. 1902-8 1.660,000 290.0rO 720,000 & Son : Bondr. Stocks. Y 114% 40 Van Hensen Charles Co.. $20 per share 15 U. 8. MortgBRe A Tr. Co. 404 1000 38 Mercantile Trust Co. 20 Title Guar. A Trust Oo..6,'>5 6 fhcmloal Nat. Bk.. 4297-4825 600 10 Germacla Bank 10 Lawyers' Title Ins. Co.. .319% 262% 85 Naesaii Trust Oo 8,500 Perforated Music Roll lot §400 Oft Li^O Realtr Aiisrclates.142% 146 10 Bowling Green Tr. Oo. .210 40 Corn Exchange Bank...394"B 162^1 10 Broadway Trust Oo 200 CIn. North. RB, Oo. com. 7% Novelty 85 Aomn Metal fll Works . . . . : Thii wetk, 2.636.000 to to to Oct 22 Oct 22 'Transfer books not closed. : 1903-4. 9,293.609 4,945.161 1,801,967 390.449 314,418 6,641.908 2;i00,988 Supplies available for consumption Feb 22 Nov Nov Nov 6 10 lYIigcellaneous. Gold. Books Cloted. (Days Inclusive.) f 5.000 Hud. Rlv. Pulp A Pap. Co. 6s (underlying Hen of International 1918.. I &J $3,000 Lo^tans. ley t'aper Co.), lOfl^S & Wab Gas Co 6s Val- 39%-42% $2,000 Ind. Natural Allium. 88% Gas Co, es sii.ooOOhloA Indiana Gas oo.es $123,000 Grfcn Rlv. Asphalt Co., St. Louis. 6h, 1928. N. 88% MA May, 1904. COUPS, on.. 1 $26,000 CIn. North. RB. Op. SSOp Ist 4b. 1951 !^500 Newb. Dutch A Conn. 1 $65 BR Oo. Income bond lot 6 Newb. Dutch. A Oonn. t j RR. Oo. pref. stock.. J o 2 .. . 1684 THE CHRONICLE New York City Clearing IIoubo Banks. -Statement of oondition for tlie week ending Oct. 15, lliOl, based on average of daily results. **'* BANKS. o**<^ Capital. «w> eiphtri (OO) in all Surplut Loans. I^gaU. DepoHU > dBAjfm Capital Surpltii. Re. ^ve. N. Y. 9 Bk. of X. Y. Mauhat. Co. Mttrcliaiits' Mediuulcs". America Phoonix ... City Chemical .. Merch. Kx . Qallntiri Urov Mech.&Tra. Greenwich Amer.Exch. Commerce.. But. >Vi Mercautile Pacitic 42'2,7 625 1,087 ... 450,0 200,0 2,000,0 3,000,0 .. 1,000,0 2,550,0 Chatham ... ... People's N. America Hanover Irving Citizens' Nassau 8hoe&Lthr Corn Exch . Oriental Park ... & Trad East River fouxth Second First K.Y.Nt.Ei. Bowery ... N. Y. Co... Oerman Ani Chase Fifth Ave.. German Ex. Germania .. Lincoln Garfield Jifth Bk. of Met.. West Side.. Seaboard IstN.Bklyn . Xaberty iJ^. 1'. 408 2,035 6,645, 1,062, 615 321 500,0 Mar.dfc Fult Imp. 2,000,0 2,522 2.050,0 2,416 2,000,0 1.3U4 3.000,0 3,281, 1,600,0 3,65G, •^50 1,000,0 25,000,0 17,657 300,0 7,691 000,0 358 1,000,0 2,262 300,0 123 700,0 357 500,0 539 5,000,0 4,271 25,000,0 11,673 3,000,0 4,361 Ex Pr. New Amst. Astor Total ... 1,000,0 1,000,0 2,000,0 750,0 1,500,0 3,000,0 250,0 3,000,0 300,0 10,000,0 1,297 359 3,318 1.058 6,605, 7,064, 133, 2,943, 1.426 13,93 1,000,0 250,0 200,0 750,0 1,000,0 100,0 200,0 200,0 300,0 1,000,0 250,0 1,000,0 200,0 500,0 300,0 1,000,0 1,000,0 500,0 350,0 . 8(59, 773 667 617 4,034 1,785 682 873 1,370 1,284 379 1,456 528, 1,409 601, 1,932, 518, 554, 572, Sep 24 Oct 1 P.C. 20,756,0 27,702,0 18,219,9 2'2, 995,0 27,108,6 3.36K,0 182,748,4 24,810.0 6,154,5 8,862,2 2,264,0 4,790,0 2,592,6 80,451,6 164,197,7 24,671,0 3,129,5 6,148,5 2,206,9 17.126,7 50,372,2 6,957.0 17,237,2 2,661,1 6.796,1 7,412,9 27.634,0 7,656,2 24,671,0 75,782,0 1,137,4 22,075,3 9.528,0 108,549,3 7,708,7 3,088,0 4,661,2 3,694,2 49,881,3 9,432,8 2,742,5 2,810.9 12,008,6 7,704,5 2,590,1 8,273,1 3,589.0 15,225,0 4,172,0 11,464,7 5,523,9 6,102,7 4,570,0 3,604 6,356 4,250 4,t;25 5.4H7 605 4'2,414 6,492, 1.321 1,181 491 672 579 4.119, 28,416, 3,994 290 709 235 HoBton and Philadelphia Itankg.— Cliy, Below a foinimary of tlie weekly returns of the Clearing llonZ Banks of New \ ork City, Boston and Philadelphia. The New lork hgures do not include results for non-member banks. Wt omit tufo oiphtri (OU) in all tKese floure*. . 18 eatei. Specie. New \ork (Vol. Lxxix- 1,903,0 2.254.0 Liiant. Speti4. 9 Legal*. 1,199 4,159 362 1,345 1,820 4,777 1,018 4,027, 18,382 219 4,889 1,118 26,571 1,321 381 779 671 CiTCM^ latxon. CUaringt. 9 « « 250,016,2 11386018 261,967,5 77,804,3 12140831 250,616,2 11430339 244,367,1 78,746,6 12127971 40,719,2 1.199,072.9 4O,576,0 1,36.S,708,1 250,616,2 1145!i8'.t'2 237,50:i,5 76,462.4 12052760 791. 1,713,612,8 250,610,2 11840134 237.745,0 76,522,3 1193-2377 41, 42,288,0 1,516,867,6 62,635,4 175.098,0 15,82.J,0 6,690,0 218.019,0 52,035,4 176,342,0 : 0,208,0 6,222,0 221.3'29,0 7,386,0 113.373,2 7,42s,o 135,333,3 62,635,4 178,363,0 17,839,0 6,335,0 5,251,0 7,411,0 139,038,4 48,107,1 205,510,0 73,745,0 258,024,0 11.311.0 106,708,7 48.167,1 207,039,0 7'2,231,0 257,384,0 11,447,0 128,905,0 48,167,1 207,910,0 71,58.3,0 268.739,0 11,611,0 119,002.4 "'^* '"' Boston and Philadelphia the Item "due toother hank." 20,881,0 20-3 Oct H 32.921,0 .'61 Oct 16 1,334. 22,'284,8 25 Itos. 1,556,0 23,992,0 25-7 Oct 1 2,'-'8,i,5 30,666.4 26-3 Oct 8 220,0 '2,910,0 28-3 Oct 16 8,'293,8 183,365,4 27-6 Fklla. 1,848,4 26,666,6 32-6 Oct 1 656,9 6,881,6 27-2 Oct 8 561,3 6,860,0 25-4 Oct 15 24,4 2,188,7 _'3-5 480,0 5,169,0 22-2 ...^ »i 493,0 2,707,4 39-5 1,830,0 23,490,5 25-3 12,415,0 155,918,3 26-2 1,258,7 21,876,9 24-0 Imports and Exports for tlie 607,7 3,858,7 206 The foUowinir are 884,6 the imports at 6,164,8 25-8 York for the week ending for dry loodj 316.5 2,537,7 21-7 Uct. and 13 for the week ending for general merchandise 1,836,6 16,898,7 27-1 3,603,1 uct. 14 ; also totals since beginning first 63,856,9 28-4 week January. 396,7 6,474,0 24-6 1,402,4 21,230,9 261 FOREIGN IMPORTS. 265,8 3,086,4 20-3 675,0 7,082,5 28-6 Forv>ee}c. 1904. 1903. 377,0 1902. 8,834,3 4-8 1901. 4,055,0 34,032,0 25-9 Dtj Qoods $1,979,124 $1,931,603 405,0 7,403,2 19-2 $2,572,861 $1,912,708 Qeneral Merchandise 9,813,639 7,703,066 1,326,0 21,983,0 24-3 8,685,575 8,290,089 5,533,0 89,216,0 26-8 Total. $11,792,763 $9,634,659 $11,258,436 $10,202,797 175,4 1,355,0 29-1 Since Jan. 1. 1,986,5 25,556,4 26-9 Dry Goods $95,251,866 •$105,260,206 1,4S0,0 10,213,0 25-4 General Merchandise 370,581,008 361,586,000 $99,246,612 $84,624,651 2,163,2 110,079,0 26-1 343,397,555 363,302,074 470,3 7,046,1 25-4 Total 41 weeks $465,832,874 $466,84-5,206 $442,644,067 324,0 3,457,0 20-3 $437,926,725 389,6 6,305,7 220 "^P^j;^^ of dry goods for one week later will be found 203,1 3,574,6 24-4 inTJt our report of the dry goods trade. 1,956,6 60,455,9 26-0 211,2 10,276,3 25-1 The following is a statement of the exports (exclusive of 528,0 3,281,1 22-1 specie) from the port of 790,0 York to foreign ports for the 5,452,4 :2-3 1,840,1 week ending Oct. 17, and from January 1 to 12,651,7 23-9 312,3 8,059,4 26-9 171,8 2,576,0 24-3 EXPORTS FOR WEEK. 4H3,4 9,613.8 23-6 329,0 3,963,0 23-8 1904. 1903. 1902. 1,542,0 17,770,0 24-7 1901. 925, U 4,699,0 33-0 For the week $10,194,785 $11,343,060 249,0 10,093,0 25 5 $2,654,939 Previously reported.! 374,997,017 387,659,806 $10,170,455 373,440,746 408,274,602 322,0 5,947,9 24-2 622,4 Total 41 weeks 7,069.7 22-6 $385,191,802 $399,002,866 $383.611,201 1$410,929.541 200,0 4,411,0 23-9 the figures of exports as reported bv the New York rnst^m Ti^,?I^r-^^ 76,522,3 11932377 26-3 Week.— New 2,750, 14,668, De. poHU. t m 13,795, 2,375 200 429 New 1,186 1,856 456 dat^ THE FROM NEW YORK 1,844 615 2,860 627 2.334 1,122 975 855, 115,972,7 134,643,5 11340134 237,745,0 t t Total United States deposits included, $23,262,700. Reports of Non-Member Banks.—The following is the statement of condition of the non-member banks for the week ending Oct. 15, 1904, based on average of daily results. ^« on»i( BANKS. Capi- OOs omitted. Sur- tal. plus. two ciphers (00) in all Loans it invest- Specie. Zeg. T. ABank ments. Notes. EXPORTS AND IMPORTS OF SPECIE AT .. 14th Street. Gansevoort. Hamilton .. Mt. Morria Hutual 19th Ward Plaza Biverslde State 12th Ward . . . 23d Ward .. York\-ille ..I Fidelity Jefferson 100,0 300,0 100,0 200,0 200,0 250,0 200,0 200,0 100,0 100,0 100,0 200,0 100,0 100,0 243,1 291,8 116,7 81,9 123,3 118,9 1!)3,0 196,8 245,0 106,6 682,2 114,3 105,4 285,3 122,5 304,0 '200,0 . Century ... Wash. Hgts XTmted Nat. •Consul. Nat. Union Exch 400,0 100,0 100,0 ,000.0 ,000,0 750,0 63,3 135,2 130,2 1 ,129,9 517,4 2,306,9 4,982,0 1,924,4 1.988,1 3,160,3 2,'268,7 '2,764,5 Other Deposits Agent. Bks.dc 1,773,3 2,963,0 1,218,5 7,980,0 1,688,0 1,429,2 1,899,7 837,7 2,223,5 699,3 665,9 2,137.4 3,902,2 4,817,4 261,0 176,0 162,0 477,6 551,0 13,7 98,2 564,0 36,0 60,3 232,0 246,0 217,0 201,0 58,1 38,6 13,2 165,1 297.7 49,3 294,4 7,6 85,3 23,4 23,3 71,7 63,7 26,8 13,6 240,0 366,9 132,8 207,0 175,0 94,0 151,2 179,7 10.'i,4 227,9 3i!2,9 367,0 190,3 185,3 236.4 365,1 93,1 108,1 $ 533,3 3,5 93,3 87,1 258,3 55,6 55,5 433,1 203,7 789,0 290,7 228,4 75,1 230,3 41,3 '"6,9 47,8 89,5 74,8 381,5 554,7 125,0 300,0 '2,269,0 2,295,1 3,691,8 3,046,5 2,><18,7 2,581,0 3,509,0 1,439,9 9, '248,0 2,254,0 2,000,8 '2,453,'2 836,3 2,149,6 712,8 651,8 1,272,1 '2,596,2 6,248,1 . .. Mfrs.'Nat.. Mech.anics' Merchants'. Nassau Nat -Nat. City .. North Side. .Peoples 17th Ward . BpragueNat 'Union Wallabont . Borough ... Borough ol Sichmond. .l8tNat.,S.I. National . Second Nat. Third Nat.. 337,0 161,3 681,6 407,2 63,3- 741 589,9 162,2 184,7 89,6 2,248,8 l,ti56,<: 3,151,9 7,254,9 1,167,1 5,487,0 3,d3'2,0 20,2 110,0 331,2 214,9 10,3 207,0 133.0 , I 247,1 60.3 97,1 367,2 484.1 917,2 621,8 1,273,5 86,5 203,6 779,0 882,0 83,5 34,3 124,6 242,8 54,8 90.3 '25.0 296,0 91,1 79,6 22,3 51,2 72,0 401,0 416,0 316,0 3 '2, 6-2,7 121,1 151,7 87,9 30,0 628,6 177,1 104,2 64,4 3'2,0 2.632,6 2,060,0 4,104,4 9,286,8 1,382,1 5,774,0 4,523,0 1,303,8 1,829,8 116,0 84,4 91,8 1,283,7 1,444,6 652,0 1,193.0 1,125,1 779,8 1,671,6 110,8 742,8 00,6 400,0 1,067,6 3,666,6 193,6 250,0 250,0 200,0 2,260,2 1,269,4 1,405,1 71,0 70,2 43,2 71,5 208.8 197,1 616,8 11, '2 4,8 l,824,-2 193,6 49,6 59,2 34,0 103,6 1,021„S 84 3 75,6 3,092,3 1,187,5 100,0 2.^3,8 051,8 261,1 29'2,3 HOUOKEN. First Nat... feecoDd Nat. Total 1904 Total 1903.. Total 1902 Silver. Great Britain Prance Germany West Indies $676,500 190 11.500 1,610,395 4,140,275 3,000 3,156 18,039 4,000 $73,925,673 32,930,218 26,023,486 $713,385 61,462 476,350 $7,707,313 4,162,819 4,850,734 $3,529 9,1S5 10,511 135,612 430,096 194,922 32.573 „[ 8223,635 $28,309,633 287,150 1,596,369 25,800 1,249 205,743 48,600 *" [' Mexico South America."".'! 43','726 $535 1,765 3,692 14,337 18,826 1,399,8'25 other countries... 10.423 Total 1904. Total 1903. Total 1902. 17,4 81,3 10,7 134,0 45,5 56,1 24,5 $555,759 $31,596,393 606,975 24.217,598 671,312 26,837,471 •f4'2,149 $813,433 125,932 8.183 1,370,911 980,379 imports for the week in 1904, $10,000 were AmLlor^^T® ^^'^ ""^^ ^"'^ ^5,904 American silver coin. Of the ^^^« American gold coKnd1^s'7f.'^^ "^T^ *^^' ? com and 110,0 125.0 539,8 165,0 2,166,4 1,180,4 105,4 §43,725 were American silver coin. Auction Sales.—See page preceding. SanUiug and ^fiiuiuciul. 744,7 1.424,0 1,556,9 921.7 1,766,5 Spencer Trask Monthly Descriptive List & of Co. High-Grade INVESTMENT BONDS. 10,0 281,3 884,5 309,9 1,534,3 1.537,6 64,5 ii; 127,4 6,595,5 1,915,8 1,15U,5 Jot. Oct 15 l()l:i70 122185 98,761,5 4,526.0 6 .106,9 141614|7,iM2 6 115'2037 Tot. Oct 8 101370 122185|97.918,3 Tot. Oct 1 101370 1221S5|96,919,0 4,291,315, 9fJI,'2 155294 8,300.0 1158460 4,306,o!5 749,2 141940 7,660,1 1112210 1. 7,229i4b'i '.'. $74,500 Since Jan. $2,047,340 2,308,382 1,633.993 636,026 86,214 904,499 90,863 All other countries. •All Week. 1. T^^^^ 150,0 300,0 252,0 500,0 100,0 300,0 300,0 100,0 100,0 100,0 200,0 200,0 100,0 200,0 jEItSEYClTT i'lret Nat... .Hudson Co. Since Jan. [[' South America i IMPOBTS. $19,637,476 41,305,126 Mexico 3,139,8 5,229,0 Brooklyn. Brooklyn Week. Great Britain France Germany West Indies Morough ol Broadway Gold. Net Clear'y 63,5 279,0 102,0 29,2 105,0 124,7 21,6 37,9 175,0 NEW YORK Exports. Deposit with Man&Brnx Columbia and^oT" cases. N. Y. CITT. £oroughs o) Colonial The following table shows the exports and imports of specie at the port of New York for the week ending Oct 15 ^' ^^^' ^""^ ^""^ *^^ corresponding piriods in 1903 Transact a -general banking business and execute stock and bond orjers upon the New York Stock Exchange. Branch O ffice, Albany, y.Y. ^Vill iam and Pine St?., New York. Moffat nieniberg &" New York Wh i te , Stock ExcbaoKc. 1 NASSAU STREET, CORNER WALL, JDcalers in luvcstmcnt Securities. TeL 5820^1 Cortlandt. Telephone Stock, a 9peel.lt,. — ; .. OCT. 22, 1904. Uanlijers' ' For Ditidendi 1685 THE CHRONICLE. J ttt page United States Bonds.— No ©a^^tk^ sales of Government bonds The following have been reported at the Board this week. third are the daily closing quotations; for yearly range see page following: idSj. WALL, STREET. FRIDAY, OCT. il. 1904.-5 P. M. SItaation.- Such a The Money Market and Financialmight be expected to m SB, Oct. Oct. Oct. Get. Oct. PtrioAs IB 17 18 19 20 Q— J»a oonpon 1980 Ss, 1930,sm»J.regl8tere(l 28, 1930, email.. ..coupon registered ts, 1918 Q— Feb Q— Feb Q— Feb la, 1918, 8in»ll.regl8terea Q— Feb em«ll.."Oonpon ts,1918, rogl8terert Q— J»n 48, 1907 18. m *104ia '•104H *106>« *106"« ooppon 1918 1907 19J6 4a 1925 la ts' I 'Tblaia tne price ttid at tba V 1044 •1041a '104 lOS"* *106>4 '106V *i06' •io6" *i06" '106 *106 '1064 •1064 -106H •loein 106V*106>« *l6i' Q—J»n reglatered Q — Feb coupon Q—geb coupon OeU 104>4 '104*4 '104»4 '104*4 104*4 '104*4 *104«4 104»4 '104*4 * 104*4 104»4 '104»4 Q~J»n reglstorefi S8,1980 development iQ activity and prices as agricultural industrial occur in conjunction with present place this week in Wall taken has conditions financial and Upon only a few occasions in the history of the Street during an entire week Stock Exchange have the transactions prices is only a been on so lar|e a scale, and the advance addition to what This advance little less exceptional. past two or three had already been recorded during the places the total months, aggregates a very large amount, and market value of securities dealt in on the Exchange at a extent much higher level. That a movement of considerable warranted by the improved in the direction mentioned was that it may be general conditions there can be no doubt, but Int$r*8t *106'« *lC6Vi *106>ii *106>ii •loei^i'ioeia *1J0»8 ISQUg *180«» *130»t '1I;0»b'*1E0«, *181'\, •131" ISl"^ •131'% •181»8*181'9 mornlac board: aoMUwaa mtcie. Railroad and Miscellaneous Stocks.— The upward movement of prices has continued in the stock market with more been exor less irregularity. The volume of business has especially during the early part of the large, ceptionally true. carried too far is equally ^. „* w u and the activity extended to all departments. DurThe open market rates for oall loans on the Stock Exchange week last two or three days there has been a reactionary ranged have the collaterals ing Jurinff the week on stock and bond entire list, call were IM to 2 tendency, but this tendency did not include the on rates To-day's c to Crom IH 2M Pissues have recorded the highest quotasome dav each o. for at and quoted 4@4>^ p. paper commercial p c. Prime this advance tions of the year. In some important stocks endorsements and 43^@5 p. c. for best single names. to several points, inamounted has records previous on Thursday statement over weekly The Bank of England Southern St. Paul, Reading, Erie, Missouri Pacific, showed a decrease In bullion of £198,414 and the peroent- cluding Louisville preferred States Steel United Nashville, & week, last Pacific, against 5490 aRe of reserve to liabilities was 56-53, per cent. The and several less prominent stocks. New York Ontario & the discount rate remaining unchanged at 3 francs in Western sold up to 44%, an advance of nearly 9 points, on of 1,635,000 decrease a shows France Bank of the report that its control had been acquired by the New silver. in francs gold and 1,825,000 ^ . .^ , . . New Haven & Hartford. their statein York banks Clearing-House The New York City records by a A list of the issues that exceeded previous ment of Oct. 15 showed an Increase in the reserve held of PennsylvaCentral. York New include would more of or reserve point and a surplus over the required 1811,400 Hudson, United nia, Union Pacific, North West Delaware & $15.957,875, against $12.636.900 the previous week. States Steel common and others. jHfftr*net$ 1902 1903 1904 Local transportation shares have been strong and active, i:. , Oct. IB 17 Oct. prtvioits ¥f»tlt 18 Get. which especially Interborough in the outside market, of mention is made below. Metropolitan Street Railway ad- 116,972.700 134.643,600 IiiMAB * diaeounta 1,134,013.400 Deo 11,976.800 497,000 42,288.000 I»0 Olr eolation •1,198.237.700 Dec 12,038,300 Netdepoaita... 241.500 Ino 387,745.000 Specie 69,900 76,622,300 IBO Legal temders.. 116.572,700 129 874.30(i 908.265,500 171,870,800 68,606,800 100,672,700 117,687.000 866.450,800 37,856,100 863,125.800 164,112,000 67,277,700 CftpitAl Bnrplua 46.723,20ii 891.771, 4W vanced 5 and Manhattan Elevated and Metropolitan Securities 314,237,300 Ino 298,309,426 Deo 311,4)0 3,009,676 240,876,100 232,942,860 221,889,700 216,781,450 WttK Iniiing urplna reserre 16,957.876 Inc 3.320,975 17,433,260 5,608,250 A.lll8-Clialmer8 p. c. of S38 262 700 United Statea depoelta included, agalnat »23,218,600 1»?3week and $87,237,900 the corresponding week of would be^J"*^-"""® $21,773,660 United 8tate8depo»lt8eUmtnate(l,tbe8nrpluare8erve •n Oct. 16 and $18,441,525 on Oct. 8. MOTB.— Beturnaol separate banks appear ontnepreoedlng page. laat ' Salts /or Wtt}c 8TOOK8 depoaits Bcaerre held 16 Some over 3 points. Preferred Amer Agricul Oct. 21 2,87H 2,800 100 Co Ohem Amer Beet Sugar Preferred Am Steel Foundrlea Preferred & Cable Amer exchange market was Assoc Teleg Merchants. Ist prt Foreign Exchansre.- The foreign active and generally strong this week, influenced by a demand for remittance and to cover short contracts. To-day's (Friday's) nominal rates for sterling exchange were 4 84@4 84^^ for sixty day and 4 86@4 87 for sight. Today's (Friday's; actual rates for sterling exchange were 4 8375@4 8385 for long, 4 86@4 8605 for short and 4 8630(3 4 8640 for cables. Commercial on banks, 4 8350@4 8360, and documents for payment, 4 823^@4 83%. Cotton for payment, 4 82%@4 82^; cotton for acceptance, 4 8350@4 8360, and rrain for payment, 4 835.^@4 QS'i^. To-day's (Friday's) actual rates for Paris bankers' francs were 5 1S%*@5 \Q% for long and 5 16% @5 \%UX for short. (Jermany bankers' marks were 94 13-16@94% for long and 95^(a95 9 16t for short. Amsterdam bankers' guilders were 40 1-16(3401/8* for long and 40 5-16t@40 5-16 for short. Exchange at Paris on London to-day, 25 f. lie; week's range, 25 f. 12i^c. high and 25 f. lie. low. The week's range for exchange rates follows -Cablet. -Short.- -Long.Sterling Actual '3 4 8385 High... 4 8376 — 4 8630 H 4 8606 4 8666 4 8660 'a> 4 8340 4 4330 Parit Banker »' Franet— 'W 5 16>«t '3> 6 18*4 6 16^* Hlch... 6 18*4* 6 16T8» -ai 6 iB^s* -a 6 18*4 Low... 16 19^ Otrmany Banktri' Marie*— ® 05» 6l '3 94^8 96H High... 94>*i6 -3 96Ti« 94*4 -a 94i»n Low.... 95N Amtttrdam Banker*' OnildtrB— 40S|«t 9 40>iH 40ii* '9 AOH" High... 9 40>«{ •» 40IuT; Low.... 40iie <0>4T1 Less: • »,« of 1%. t ^tt of 1%. % 'si of 1%. Plus:11»i.of 1%. »»8« Of 1%. '9 Low ... 4«6 I I ® ® 4 8606 . i 8640 4 8615 I I 1 I I I I I I of 1%. industrial stocks fluctuated widely. For aaily volume of business see page 1694. The following sales have occurred this week of shares not represented In our detailed list on the pages which f oUow. 300 120 376 1,969 Bmngt /or ll^sOct 50 Got 19 Oct 20 Oct 74*4 Oct 8 Oct 36'eOot 18 15 16 IP 21 17 19 »l»sOctl>< 260 400 92 Oct 345 70 Oct 100 100 Oct 97 Oct 31 100 561^001 Homestake Mining 800 10 Oct Knlck Ice (Chicago) 400 64 Oct Preferred 29 100 Oct Laclede Qag, pret 4" 185 Oct Morris <fe Kssex Nat Enam <& citamplng.. 1,900 17 Oct ion 82 Oct Preferred 100 415 Oct New York & Harlem 107 157'40ct N Y * N J Telephone . Cleve Lorain & Wheel . Preferred H. B. Claflln Co . . RB Seonrltles 111 Cent'i stock trust certificates Ogdensb Onlted Fruit Co Coke Coal & Va Iron Rome Water <& 18 WUh 14 sang* Hn»t Jan. Oct 21 62 Oct 10 Oct 22 Oct 74*40ct S'QOct 37i20ot 93 Oct 17 17 17 1« 21 20 1 18 39>9Mar 15 13 19 21 21 17 17 17 Mar Sep 74 Sep 64T«Feb 19 Oct 22 Oct 74»40ot SWne 8^4 Sep 26 J'ly 39 Sep 82 Jan 93 Sep »2 Oct 924 Apr 60 J'ly 70 Oct 75 Sep 100 Oct 97 Oct 97 Oct Oct 18 Oct 18 Oct 18 Oct 21 49>iiMar sai^Oct 1'' 8 Sep 12 >aOct 20 48'«Jan 86 Oct 1 X 91 Mar 100 Oct 17 185 Oct 1'.1 \82>aApr 14 Sep 19 Oct n 76 J'ly S2 Oct 2(' 415 Oct 1' 100 J'ne lB7'aOct 21 140 Feb 92 87>«Oot 17 89>»Oct 19 60 132»r20ct21 132>i>Oct2l 100 104*4 Oct 20 104*4 Oct 20 100 24 Oct 21 24 Oct 21 990 Mar 16 Feb 21 70 IV Ih 100 .. 21 97 20 6 2. efi'sOot 12»aOct 66 Oct 104 Feb ISOViMBy 21 Jaa 83 Jan 416 Oct 153 Sep Feb 93 Hay Jan 133 J'ly 96 Feb 112 >a J'ne iSHiSep 24 Oct 86 131 Oatside Market.- Interborough Rapid Transit furnished the most conspicuous feature of the trading in the market for unlisted securities this week. The initial transactions on last Saturday were made around 147^. and from that figure the price moved up slowly to 1491^ on Wednesday; on Thursday, in sympathy with the strength of the Metropolitan issues on the Stock Exchange, and on a renewal of deal rumors, the price advanced sharply to 160, and 161i^, it reacted to 157^ to-day, after opening around and then rose to \^2%. Dealings in Northern Secuhave been on a somewhat larger scale rities stock than last week, more than 3 \000 shares changing hands during the six days; after nn advance of a point to 115% the price of these shares declined to 112, but subsequently there was a recovery to 114^. Wabash Pittsburgh Terminal bonds have been active and strong; the first 43 rose 2 points, to 891^, while the 2d 4s gained 2% points, to 44%. The following were the rates for domestic exchange on Vera Cruz & Pacific 4)^8 ran up from 93^ to 95. Standard Oil moved up 6 points, to 651, but later reacted to 647 the if ork at the under-mentioned cities to-day Savannah, American Can common adbuying, 50 j. per $1,000 discount; selling, 75c. per $1,000 pre- close to-day was at 648 1^. mium; ('harleston 12i^c. per $1,000 premium; New Orleans, vanced Yo, to 71^, then declined toS^^, and ended the week bank, 60c. per |1,000 discount; commercial, $1 00:a7Ic. per at &\i\ the preferred rose from 47i;s to 49'^ in the early to 48 $1,000 discount; Chicago, 10c. per $1,000 dieoount; St. Louts, trading and then, after a drop to 45»^, reacted Mergenthaler-Horton 10c. per $1,000 discount; San Francisco, 70c. per $1,000 the final sale to-day was at 47;^. premium. Basket Machine stock moved irregularly between t%&na Mackay Companies common, 11. State and Railroad Bonds.— Sales of State bonds at the 12%, closing to-day at the prefell back to 34'-'4 Board are limited to $30,000 Virginia 63 deferred trust rose from 341^ to 35^^, but later The price of Greene Con74'^ to 73;^. sank from ferred receipts at 7)^. irregularly between -20 The transactions in railway bonds have been much larger solidated Copper shares fluctuated British Columbia Cop2(i%. at week the ended and and on 21, than u.sual, amounting to nearly $10,000,000 par value to 6, and closed to day at 5?^. After Monday and averaging nearly $7,000,000 per day throughout per moved up from Phoenix Mining ran off to 18; th» the week. The market has been relatively st ady wlien a gain of 2 points to 25, compared with the stock maiket, although there was a close was at 20. New ; : , : i-^'t, notaole advance in a few issues. Outside quotations will be found on page 1094. 8 1 New York Stock Exchange— Stock <m;cui'yin«; Itondav Oct. 17 Saturtiay IS sa 63 85 U H5'4 101 lOlHi 1.H7 138 S; 94 >« i)5'4 »6 95 •130 •145 -SO 0)8 80 85 210 143 I8I4 85 5B''6 28 "u 2834 16834 169 "s •1H3 190 <i6'4 184 190 67Hi 158 159 146 165 •80 88 Si 182»8l34»u 6Siv 68 185 185 46 le 4534 168 165 •190 143 16»8 •SIHj 56»8 m^ "a ss"^ 13288 13234 67 •» 67 « 184»4 184^, 4434 45.\ * 39»8 Oct. 18 Oct. ly •28 •30 33 •69 •60 64 85 >4 84^8 101'4l0l'B 101 138 139'-^ 137'* 94 >« 94»e i'->^, 96 06 96 •28 *69 67^8 Wednetday Tur.idav 39'a ' •80 190 18»4 86 210 18>a •814 85 eoifl 633f, 28 Si 29«8 16838 16968 184 190 184 193 33 31 32 64 {69 64 84 7„ 86 Si 85 Si lOlSi 101 14 102 139 137S4l39Si 94 »8 93»8 95 96 96 Si 96 1« 66 14 68% 66\4 68=8 '150 159 '166 165 •83 486 87 88 Si 133 134 1327gl3378 68"^ 68'4 •68 68 Si 183 184 183 184 4538 45 44% 456), 3954 38 Si 387, •80 •80 86 85 190 210 •190 210 '130 146 ' I'/iuriday Oct. W HTOCK.S 7»4 17 7"8 150 8 17 TOg 85 >a 86^8 110 21 52 "^ 27>3 173 •290 2m 52 "a 277g 173'6 295 29>e 29I4 S2\i 82 "^ {24 ' 24 334 33^ 7 7 70 '4 71 Bl 9'8 1634 3339 10>4 18 338g •69% 69 >2 48 •58 *75 192 •76 48>2 60 85 150 140 185 .... •185 8 17 7 734 16 7% 15 7=8 86 8634 11134 111'4 2IS2 23 Si 5234 53 29'4 28 173>4 174Si 29434 2943, 29% 82 •24 3=8 7S2 7134 IOS2 17'8 293. 82 S, 25 4 7S2 74 IIS2 1938 33 Si 34 Si 691* 70 48 48Si *68 60 •75 85 7% •140 160 n85 8 le 718 15 7=8 85 >4 85''( 112 112 22 Si 23 Si 53 65 28Si 2938 17438 17538 293 295 29 "4 293< 82 82 •24 25 4ie 4 7Si 7334 11»8 18'8 7S2 7Sj 15S: 7', 85Si 86S> 28Sj 29Si 17334 17566 293I4293I4 2934 30'. 82 82% •24Sl 25 4% 4% 7Sj 7Si •30 •60 32 63 '140 '185 734 15 6S1 84% 150 140 185 .... 734 I6S1 V* 86 23% 54 29 547t 30% 174%175i4 294I4294I4 30% 82% 83% 30 4% •7 25 4% 7% 75 llSi 11% 12% 19Si 19 18 35% 3612 35% 36 71% 72I4 4914 50% 48 Si •58 •75 •40 497, 60 85 48 192 78 58 •75 •42 •188 •75 1634 laig 7 Lowest Highest "4 21 60 85 60 192 80 161a 16% I6I4 82 82 90 83 227 160 Chicago Burl OhicaKoA & }18l Jan Quincy.. Kast. Ill..prel. 100 124 \>- . & North Western & & Do pret Chic. Bock Isl'd Pacific Chic. St. P. Minn. Oxa Do pref 7 %)ChlcagoTemi'l Transfer Do pref 16'l 7% Chicago Union Do pref Traction 15 ,04f 161% Marl4 l93%Oct Feb 232 Sep nso 135 8 J165 Apr 2 8 .610 5% Aug31 ,425 11% Aug31 4 J'lyll ,500 29 Mfty24 L' 15% 60 85 Evansv. Do Ft. & Great Northern, pref Green BayifcW.,deb. Do 16% 54 72 Terre Haute.. pref Worth&Den. C.,stmp deb. ctf.A ctf. B 40 300 170 70 335 11 850 60 982 77 J'lyl5 Feb23 Mayl2 Marl 7 Aug 10 J'ne 1 Jm 69 897gJan 103%Jaii May 126 104 ti6\ 7 1 Jan Feb % Feb 150 160 Fell. 13834 Feb Feb 78% Jan Jan 53% Jan 37% Jaa 75% Dec 190 {184 Mar 138% Jan 29% Jan 907gJan 85% Jam 467eFeb 183% Jan 194% Jan Sep 224%Jao Au g 250 Jan Oct 200% Jan 21 ,153 15 190 J'ne 6 }152 Oct 10 1132 Mar22 146 Jan31 117 85 SjfCleve. Cm. Chic. 50 193 78 14 }170 J'ly Oct 15 105 J'ly Oct 21 13 Aug Apr 12 83 % Sep Jan 23 63 Oct Oct 21 24 Sep Oct 19 133% Aug Sep 27 168 Aug 110 207 2234 •58 •75 •42 •187 •76 a82 Jan Feb 11 143 Chlc.^Ko Ureal Western.. 98 ,150 Vl\ J'ne 8 22% 100 80% J'lyl3 86% Do 4 p. c. debentures 750 47% J'ne 6 71 Do 5 p. c. pref. "A'" ,73U 20 J'ne 6 33 Do 4 p. c. pret. "B' ChlcaBo Milw. <fe St. Paul. 381 ,767 137% Feb 24 173% 400 173 Mar _ 185 Do pref Chicago Jan 41 i ' 2'.' ,610 68% Mayl8 & St. L 300 100 Feb 8 Do pref 23% Colorado & So., vot. tru.si 38 ,7U0 13 Si J'ne 1 55 4 .560 48 J'ne 1 65% Do Istpf. vot. tr. els 29% 30 Do 2d pf. vot. tr. ctfs, 28, 00 1778 J'ne 7 175% 177% Delaware & H ud.son Marl'J 36, 140 149 294 78 295% 3 .741 250% Feb 23 elaw. Lack. & West'n. 30% 31% Denver & Rio Grande 4 .150 18 Marl4 82% 833. 4, 050 \>4% Feb 24 Do pref 25 430 19% Jan 25 Des Moines & Ft. Dodge. 4% 4% Detroit South, vot, tr. cttti 1 ;250 1% J'ne27 234 J'ne27 1 ,600 7% Xyo pref. vot. tr. ctfs. 74% 75% Detroit United 60% J'neie 9, 060 12% 12% Dulnth So. Shore & Atl 4 435 5% J'ne 3 20 13 ,495 20', 9% Aug 10 Do pref 547 .880 21% May 16 36% 3761 ITtne 72% 73% nJDo 1st pref 62 .972 55% May31 27 320 33 May 16 50% 52 Do 2d pref '110 .... 2234 •24 16 8434 llSi 19 72 49 Si 51 58 60 75 85 •42 47 190 195 Hig/utt LotBUt '^ 74 71 Week V/iaret 1 75 7038 Hanye tor JTevunu Hange lor Year 1904 On batU ol lUO-thare UiUi YearCiyOSj 861. 74 >4 69»8 the (; lllSiUlSi >110 22 14 23% 65 54 . S2% Ann Arbor 400 2S J'lyll 32 Oct 19 28 D«-c 64 Do pref 20|«4934 J'ne « 64 Hep 211 54%X>«c 8G% 87 Atch. Topeka <& Santa Fe 243 11 64 Feb 24 87 Oci 21 54 Aug 101 Si 102% 102 102% Do pref 26 637 87% Jan 102% Oct 20 84%Auv 137% 1381. 138% 139 Atlantic Coaxt Une BB.. 14, 201) 104% Feb 18 I39%(;ct 171 100 IX-c 93 1« 94 Si 94% 95% Baltimore <& Oluo 104 745 7278 Marl4 9.'<>H(ict 17 71% Sep 90 96 96 96 Do pref 1 ,702 87% Feb 19 96% Oct 19 >-2-'4 J'ly 6634 681* 6734 69% Brooklyn Rajnd Transit.. 249,,767 38 Feb24 09% Oct 21 29% Sep •150 159 '150 159 llsi. Mar 2 160 Butralo Boch. & Pitlab'K Oct 3| 121 Nov '156 165 '156 105 Do pref Oct 3 140 Sep i{ll'>% J'ne24 165 •83 86 88% Buffalo ic StuMiuu, prel. 150 85 Aug 89 Aug2o J86 132 Si 133 14 133% 133% / mnadlan Pacific ,818 109% Mar 12 i.i4%oci 17 in.';68 0ct •68 r»^, 6 8 Si •68 •00 64 Apr 69 Sep 15| 67% Sep 'anada Southern 182 Si 182 Sj 184% 184 Si Central of New Jersey.. 725 154% Feb 2b 185 Oct 17 153 Oct 4434 44 44% 45% Chesapeake <& Ohio ,300 28% Marl 4 4534 Oct 4 27% Nor •38 39 39 Glilo»KO<S) Alton 200 33 J an la 42 Aug29 18% Sep •80 •80 85 85 75 Jan 2 85% Jan 21 60 Sep Do pref •30 •69 85 "fi 74 12 34 14 3538 192 192 •74 80 16>4 leSi 16 16% I6S3 •32 8218 83 S2 82 8978 90 9014 14434 145 >4 14434 1463^ 144 •2534 26I4 2638 26I4 26 48 S* 4534 47 46S2 4714 •SSSi 37 35^8 35\ •3568 78=8 7334 78'4 79'4 79 26I4 26 '4 26I4 26 »e 26»4 49''8 51 4909 60 491s 7 160 185 . lUiUroaiU. '190 210 190 210 '128 145 '128 145 20 2034 22% 18'4 1978 1878 I8S2 19S! Si •82 •8438 80 85 •81 Si 85 85 85 •60 61 60 Si 60 Si 61 61 61 65 32 29 Si 30 29ifl 30 31 Si 31 33 16838l71'4 1707ei73% 170% 172Si 171% 173% '182 184 184 187 184 184 185 185 192 193% 19134 19334 191 192 Si 191 192 140 SaUtoi STOCK KXCHANUE Oct 227 •140 •185 NEW TOBK Friday 21 1 Record, Daily, Weekly aud Yearly two pa«;k- BTOCXBSJOIIEST AND LOWS8T 8AL£ PMIOSB Oct. 9 .. 162 Jan 187% Oct 4:}165 Not 194 Jan 1234 Jan 15 8 Aug 197«Jaa 26%Jan 15 15 Sep 36 Jan 8% Aug31 3 May 17%Jan 40 Aug31 30 May 6O34 Jan 8678 Oct 15 66 Aug 99% Jan 112 Oct 18 112 Dec 119 Jan 23% Oct 17 10 J'ly 31% Jan 68% Jan 25 44% Ang 72 J^an 30 % Oct 20 17 Ang 48 Jan 177% Oct 21 149 Aug 183% Feb 300 Sep 29 230 276% Jan 31% Oct 21 18 oa 43 Feb 8334 Oct 21 62 Nov 90% Feb 26 Oct 10 12 Sep 47% Jan 1434 Jan 23 734 Aug 20% Jan 29% Jan 25 14 Nov 3934 Jan 75% Oct 20 66 Oct 90 Jan 12% Oct 21 7 Aug 19% Feb 21 Oct 20 10 Nov 29% Feb Aug 42% Jan 37% Oct 21 73% Oct 21 62 % Apr 74 Feb 52 Oct 21 44 J'ly 6478 Feb 66%Jan2T 39% J'ly 72% Jan 80 Aug 18 78 Aug 91 Jan 54 Feb 3 31 Sep 74% Feb 192 Oct 15 160 Oct 209 Jan 7978 Jan 7 73 Dec 86 Jan 1634 Oct lb 10 Aug 27% Jan 8434 Sep 1 63 Sep 106% Feb , : May24 Marl2 91 AugSOl! •"• 77 Oct 99% Mar I4414I45S1 143% ,118 12534 Feb 24 14534 Oct 17' 125%J'ly 151 Jan 28% 29% ,540 14 J'ne 4 29%Oct 20 16 J'ly 48 Jan 28Si 29I4 4934 5118 49% 4934 49 Si ,370 32 Feb 25 61% Oct 19 30% Oct 77% Jan •3534 37 300 22% May 9 3634 Oct 20 25% Oct 47% Jan 37 35% 3634 7934 7934 80 79% Oct 19 62% Oct 8234 Feb 7934 ,935 64% J'ne 1 80 27% 16% Oct 36% Jan 27 ,675 16% Feb 24 28% Oct 21 27% 27I4 27 493. 49% Feb-.:9 51 15 29 Oct 61% Jan 48 501. Oct 50 49 ,615 31 49% Do pief. vot. tr. ctfs laog 1534 1534 1534 10 Oct 40 Mar 1578 17»4 18 16% 17% 17% 17% Keokuk & Des Moines.. 18 ,700 10% Jan 11 19% Apr 12 •47 -47 •47 •47 •47 •47 51 51 51 51 51 45% Apr 7 52 Ai)rl2 48 J'ly §55 Apr 51 Do pref •33 343. 35 33 35 35 ,191 26 Marll 35 Oct 21 23% Nov 63 Jan 35 Krie & Western... 32Sl 34 •34Sj 35S2 •33 Lake »95 106 96 110 100 105 102 106 100 100 •96 105 600 86 J'nel7 105 Oct 18 89 Nov 118 Feb Do pref •245 265 r245 265 245 265 245 265 t245 265 '245 265 li. Shore & Mich, South'n §250 J'ly 1 §27134 Feb 24 276 Dec 334% Jan •56 '59 -58 •59 60 57 5934 60 5934 60 593. 46 Mayl? 5934 Oct 17 49 Dec 83 Jan Si Long Island 1, 600 56>i 13134 137 135S2l37Si 13534 136 Si 134Sj137S( 134 135^ 13534 137 Louisville <fe NashviUe... 83, 95U LOl Feb 23 i37%Oct 17 95 Sep 130% Jan Marl 2 162 Oct 21 126% Sep 155% Jan I6834 isg'^B 158=8 15934 158 158«8 157Sjl58i4 158 159% 15834 162 13934 185 Manhattan Elevated... 22, S4I4 85 843, 70% J'ly 12878 Jan 83 83 8414 86% 86% 88 83 84 85 Si etrop. Secur., sub. rec. 58, 350 72% Marl4 96%Augll I2214I23J2 121 Si 122 S2 122 I23I4 12134 123 9 9 78 Sep 1427a Jan 12234 127 12634 130% Metropolitan Street 232, 850 10434 Marl4 130% Oct 21 16 Jan 15 17% Jan 4 17 Dec 38 Jan Met. West Side EL (Chic) 45 Mar 9 59% Sep 6j 5l%Dec 88 Jan Do pref I6I4 I7I4 1434 15. 16>8 166, 8% Nov 29 Mat 1534 16% 1634 17% Mexican Central I714 5 Apr 23 17% Oct 21 16 136, ,123 •131 139 130 130 *131 139 131 139 131 139 •131 139 Michigan Central 11 ni9% Feb 1 138 Feb 26 102 May 135 Jan •56 41 Oct 110 Jan 57 67 59 60 Si 60 Sj •59% -60% •59 ,270 40 J'ne 3 6734 Jau 18 60 58Si 60 Minneapolis & St, Louis *92 *92 •92 Feb •93 98 98 98 100 80 J'ly 29 96% Sop 16 83 Nov 118 _-_ 98 96% 96% •96 98 Do pref 8334 83 55 Jan 4 8334 Oct 18 42 Aug 79% Feb 83 "s 83 14 82 83S« 83«8 82 «8 83 Sj •81% S2% 3, 710 8J7, Minn, S. P. & S. S, Marie. »134 134S2 134 134 109%J'ne Feb May 13434 18 132% 2 2 Oct 131 13434 134Sj134S< 134 134 133 185 ,250 116 pref Do 15% Oct 30% Jan 28 Sj 29 29 2934 2834 29 Si 2934 28% 29% 29% 31% Mo. Kansas <& Texas 43, 265 14% Feb 24 31% Oct 21 29 Oct Feb 6738 58 1 21 33 5634 58 Sj J'ne Oct 63% 57 58 66% 57% 57 24, 335 69% 57 Sj pref 32% 56 Do 59% 101 Si 102 4, 317 935 87 Feb 27 105% Oct 18 8534 Aug 11578 Feb 1043g 1 OS's 10568 103 18 10568 103%104% 104% 105% Missouri Pacific Oct Deo 17 85 133% 134 134^8 136 137 • 135 137 900 Feb 2 4 137 Oct Gliatt. Loui.s 101% 135 135 •134 136 -133 135 & St. Nash. 4034 4 34% Mar 47% May il^ 42I4 41"^ 42% 41% 42 41% 4134 41% 4178 at.ol Hex, non^suin. jd 1.3, 210 343, Feb 25 42% Oct 18 22I4 22 17 Nov 28%J"ne •22 1578 Feb 25 22% Oct 21 22 »4 2214 22 22 22 22% 22% 22% 1 566 22 Do 2d pref 1343, 135S) 134S» 135', I34I4 13538 134 13514 13234 134% 133% 135 N. Y. Central <fe Hudson.. 48: 085 11278 Mar 12 1367^ Oct 17 112% J'ly 156 Jan 19% Sep 45 Jan 34 357, 34% 34% 38 N. Y. Chic. & St. Louis,.. 4, 370 25 Mayl6 38 Oct 2 34 34 Si 3434 35 34 34 >4 35 •110 116 »ll(i 116 •110 116 110 116 112 116 110 116 101% Mayl2 113 Oct 1 100 Oct 118 Jan Do Istpref "65 72 69 69^8 69 't *67 717^ •67 •69 500 00 J'nel4 7 178 Oct 19 50 Sep 87 Jan 72 70 73 Do 2d prof •193 19314 19314 193 S2 *1U2 193Sl 194 19534 ly5 19534 198 199 N. Y. N. Haven & Hartf 1 ,4'.>1 J18o% May 1 199 Oct 21 187% May 225% Jan 363 35»8 35'e 3534 30Si 3678 3638 36 36% 40% 40% 44% N, Y. Ontario & Western. 173 ,990 19% Mar 14 44% Oct 21 19 Sep 36% Feb 5334 Not 76% Feb 733 72 "4 72'fe 7178 7268 7134 73 43, ,260 53% Marl2 7334 Oct 19 72 73 73% Norfolk & Western 72S2 73 Si •92 94 •90 93 312 88 May 6 93 Oct 17 85 Aug 93% Feb 93 93 93 •93 93 93 Do adjustment pref. 95 J 93 150 J'nel4 195 Sep 2 7 190 Aug 90 Au« Northern Central 69 69 7g •68 70 •69 8,275 61 Feb 24 71%Oct 17 3934 Sep 72 Jan 6«Si 69 69Sj 7:14 a;703B 70% 70 Pacific Coast Co •98 105 •98 108 95 106 •95 7e 105 •95 105 •95 105 95 J'ly 26 101 Sep 28 80 J'ly 100 Feb Do Istpref 50% Ang 76 Jan •77 1 500 61% Jan 12 78% Oct 1' 77 76 Si 76'e 77 77 78 Do 2d pref 78 Sj a;78 78 Si 78 S< 78 135 S. 136 521: 720 111% Mar 12 137% Oct 21 11034 Not 167%Jan 135=8 1366e 13579 136S! 135 14 13634 135 136% 136% 137% Pennsylvania 16 J'ly 39 Jan 17 •24 Sj 26 Marie 26 25 Oct 25 25% Eastern 700 17 25 26 25% 26 Peoria <fe 2534 •25Sj •76 •75 •76 •75 80 80 •75 74% J'ne 9 81% Jan 23 74 J'ly 91% May •76 80 80 SO 80 Pore Marquette 260 {68 MaySl 73% Oct 21 574 Deo §76 Sop 71% 72% 72% 73% Do pref •75 •74 •74 77 600 56 Apr 20 77 Oct 14 65 Sep 9i Jan 75 77 76 74 76 74 74 Pittsb. Cin. Chic <& St. L. 74 Oct 115 Jan _ 200 90 April 105 Sep 15 90 103 Sj 105 *l«4Sil05 105 D3 pref 102 10514 •101 106% •103% 105% 72 Si 73 72 73^6 73% 7434 74% 76% 74% 75% 76% 7734 Reading, vot'g tr. ctfs.. 60, 670 3834 Marl4 773400121 37 % Nov 69% Jan 87 14 87 Sj 87 14 88 t5, 240 76 Mar 1 88% Oct 21 73 Sep 897sr6b 88 88% Istpref. vot, tc. ctfs.,. 86>-i 86S2 86 Si 87 88% 88% Jan •79 Si 79»4 4 150 55% Feb 26 82 Oct 21 6534 Nov 81 81 80 80 3134 81 2d pref, vot'g tr. ctfs. 80 81 81 z80 82 30 14 282 650 19% Marll 31% Oct 21 19% Aug 53% Jan 29 Sj 30 Sj 2878 29% 80 Si 30'6 30 307( 29 29% 31% Bock Island Company Jan 86 7434 751.^ x74 743. 7314 74 27, 806 573< Jan 6 75% Oct 15 65%Sev 7334 74 Do pref 72% 73 72% 7484 30 Apr 22 38% Feb 9 30 Avg 72 Jan Rutland, pref 83 Si 82 8978 14478 29I4 90 144^8 Hocking Valley 90 Do pref 144% 145 Illinois Central.„ 28% 29 owa Central 4934 60 '6 Do pref Kanawha <& Michigan 79% 79 7t C.Ft.S.&M.,tr. cts. pfd 27% 28 Si Kansas City So. vot, tr. ., 90 , - , 14 _ , BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS md Ask Banlis 140 Jeffersonll, UthStreetH, 300 500 510 Fourth taie 121914 Liberty ,., 1000 1100 Lincoln American ,.. 510 530 Gallatin 400 416 Maiden Laiio 105 AmerExoh.. 260 GansevoortD 140 326 Manhattan^l. 316 Astor 775 825 Garfield 500 Market&FuJ 260 260 Cons«lidat«<l 150 325 i55' German Ami] 165 Boweryli 165 +262% Mechanics' Bntch'8&Dr 150 160 C'mExcligell t3947g German Exil 375 Mech <fe Trail 130 140 Century 1] 180 Disoountll ,.. 166 (Jcnn.iiiiaTl .. t600 Mercantile., 246 250 East Biver,, 150 Chase 650 165 Greenwich 1) 260 Chatham Merch Exoh. 102% 326 3S6 PideUtyll,... 180 200 HamUtonTl .. 170 186' Merchants'.. 175 Fifth Avell.. 3450 3750 Hajiover ChelsoaKxcTl 175 540 565 376 425 Chemical MetropH 14297 t4335 FifUi 300 Imp <&Trad. t595 606 Cltliens' Ctrl 160 MtMorrislU. 216 230 First 160 Irving 686 660 220 230 • Bid and asked pncos; no sales were made on this day. auto ;Es:rignM. 4 Leds tnau 100 suare.'i. n h Assessment paid. « Tnut Co. cercificatad. t Sale at Stock Exchange or at aaotion this week. Mutual!].. Nassauli Uauks KKW TOBK Mid Atk Bnnks Bid Ask Banks Hid BanUs Ask City Coal & Iron. Colonial 11 ... Colnnibiali .. 280 283 190 200 450 350 400 Comnierco,., t231 . 1 -.i Now Ainster New York Co N Y Nat Ex. New York... £id !0d Phenii Plaiall Prod Exchn Biversidell Seaboard Second P;i«ifio1] Park . . 600 175 250 600 600 190 280 ShoeiSsLeth. 135 146 1000 StatoTJ 34th Street.. I.S5 i95* 12th Wartlli. 120 23d WardTi.- 125 Union ExchU 186 195 94 9« United 226 236 265 285 600 Poople'sll 286 300 UAuks. a Ex dividend and righCM. Orioutalll But Atie l.S2%137% Banks I WardH. North Anier. 195 Nortliern nl27 l<,»t,h Ask 290 326 190 200 406 416 1300 !26 210 !96 285 160 Sold at priTate sale at this price. t> New stock* J . ' . I " Stock Record—Concluded— Page 2 Oct. 22, 1904.] UTOCKS—MIQHEBT AND LOWEST SALS PBICES Saturdau Oct. 15 •16 *52 •27 •73 17 54 28 75 62^4 63 Hi 175 177 22>4 23 4 9 '8 6034 50I3 63 116 116 Si 9434 •73 18 Oct. 75 15 17 *52 *26 72 54 28 179 2238 23 5038 50 177 27% 73 75 61% 63>4 6338 181 178 22=8 22^8 49»4 227, 2238 50 6318 61% 627, 47% 493f 61% 63 llS'sliy"* 115-'4 1163e 6158 34^4 34»4 34 1« 34=8 95 95 95% 9434 '34"4'3'5"'4 3434 116% 3b\ 11534 3334 95% 96 9534 35 \ 130 24=8 25 34 *128 353e 129 65 «72% 72% 74 74 61% 62% 62% 63 181% 182 180 182 22 23 48% 49 22 49 6O34 6 134 6I34 115%116 23^ i07i^i07^e •94 95 10634 107^8 94=8 95 i06% l07"34 10538 10778 105=8 1063, 9479 96% 95% 95% 95 95 L. <feS.Fr.,l8t pref Do 2rl pref C.&E. I. com stock tr ctfs 23 St. Liouis Southwestern. Do pref 62% Soathern Pacific Co 116% Do pref. 2d instal. 34% 95% pd. 351. Sotithernv.tr. cfs. 8tnii>ed do Do pref. 95=8 & O. stock tr. ctfs... 35 3g 'I'^xas & Pacific 133 JL hird Aven ue (N. Y. 27% Toledo Bail ways & Light 32 ToL St. & W. V. tr. ctfs M. 34" '34\ "3434' 130% 130% 131 127 24 St ) . . 25 25 27 24% 31% 31% «31% 31% 30% 3034 31 li. 31^ 31 "v 6038 49% 4D34 4934 5138 50% 50% 50 Do pref. Tot. tr. ctfs •49% 6034 51 51 103 103% Twin City Rapid Transit. IC3I4IO3I4 103>4l03% 103% 10334 103 10334 1027el03 *22Vj Do blH, 2038 5734 2134 42% 43 18J8 2134 4534 64% 27 S4'4 31=8 27 14 22 27=8 2134 4534 28% 18% 46% 28% 23 46% 4534 •240 6434 27% 84% 65 Tg 27 273^ 84% 84=6 32% 33 214 -•26 •208 834 5", 734 538 •19% 20% 2038 8 SJ* 834 838 14 •34 2934 »7>4 6 23% 41 8*8 9 42 39 -4 30 3f 9734 5 2334 673b •3i 2334 13534 1367e , 83% 100 8334 85 32 32 9234 9234 26 28 210 '206 8% •7% 8% 6 534 6 22% 23% 23 8% 876 9 40% 35 14 36 143, 30% 28^4 5 67% 68 110 150 36 37% 29% 97% 98 96% 38 28% 29 434 5 2238 22=8 6678 67% 10933 10934 143 96% 13534 13678 84 100 85 32 14 135% 136 100 27% 85% 3878 9734 98 434 6 22% 23% 66% 67% 109 160 150 963, 96=8 109% 150 9534 135% 137^ 135% 13778 134 134% 137 134 •142 135 14134 143 140 '143 145 140 18% 21 17% 18^4 •134 •138 140 6534 15 23% 144 '144 145 143% 145% '143%145% 18% 18% i»% 18 841, 83 85 83% 83% 9934 95% 98% 228% 22» 229% 8% 8% 8% 49% 49=8 50 51% 99% 101 22234 22234 •222 224 8 8'4 8 ^\ •60% 52 •50% 51 38 '4 39 38^8 3t*3, 223 8 3734 •60 37 3l)% 3U3, 75 13% 14% 1334 137l 1334 14 12»4 14% 212%213'4 21338 216% 216% 218% 217% 220 124% 12334 124% 124% 124 124% 12334 124% 18 18 18% 17% 18% 17% 173. 761 76% 76 76 75 77% 75% 75% 3339 34% 3034 32 32% 343. 33% 34 17434 170 174% 175% 176% 178% 176% 178% Ib'^ 1878 18% 19% 18% 19% 18'-i 18^ 7834 783, 79 77 78 78 777,, 78% 69% 70% 63% 70% 62% 64 69% 70 37 37 78 37 86% 36% 37 38 38 •80 80 % 80% 81 81% 81% 82% 82% •9% 11 •9% 11 •9% 11 •9% 11 49% 49% 483+ 49% 49 49 »8 49=8 49% •109 110% 1097^ 1097, 24 '4 25% 24% 2434 23% 247i. 2479 26 95 95 97 97% 97 97 4963e 9538 135%137% 137% 138% 137% 138=8 136% 138=8 94% 9434 95 96 96^8 97% 96 97% 3734 38% 3634 38 37'% 3936 37% 38 106 'a lob's 106 107% IO634 107% 106% 107=8 42=8 44% 41% 43 41^4 4278 40 42 83 83% 84 8438 S134 83 » 8234 "-J 229^6 2-i9'8 26% 2738 85 85 12 12 62 >4 53 23 '8 24% •84% 85 V 44% 45 •80 85 230 230 26% 27 86% 86% 12% 13 62% 5434 23 24 86 86% 45% 45 •91 68% 6634 57=8 34 33 33 66% 57% 5634 34 65 143b 1438 64 V *33 7% 64 12o 7% 120 11% 11% fVt •1234 14 65 121 64 118 11 11% 89=8 90 62»8 64 7( 6214 2934 30 &4'« 2034 86% 27% 30 h3% 85 •1234 6478 119 11 8978 6534 U9 30 2 34 7% 213« 22% 8238 83=8 3534 3u 35% 35% 108% 108% 240 245 169 200 10M34 108% 109 (}243 240 247 92% 93 92*4 93 168 169% 169 171 190 200 2778 83% 84% 2234 8334 190 210 6434 119 12% 14% 90% 92% 63% 6434 1338 81% 92% 92% 6434 117 911, 2138 36 13% 13% 62 % 65 2.-)«8 28 2138 •190 91 55% 67 14 3 6 •8 16» •1% 7 80% 81% 10-> 16 1534 69% 60 «b 21 21% 42% 4318 18 46 183, 28 2134 22% 45 453, 28 '8 83% 83% 203* 22% 81 35 8278 3534 247 92=8 171% 173% }1»5 195 16% 62 22 23 4539 4634 Wisconsin Cent. Do v. tr. cfs. pref. vot. tr. ctfs. Industrial & Lowest Highest Maris 17 9 35 May 17 16 Jan 27(! J61 Mar 15,475 39% Jan 5,515 150 J an 5,535 9%J'ne 1 11,975 2538J'ue 1 394,815 41%Marl4 11,030 113 Sep 12 254,505 18%Feb24 14,875 77% Jan 90 Feb 25 65,360 20%J'ne 1,790 115 Marl4 1,250 17%J'ne21 2,625 21%May27 6,090 32 Feb 24 4,860 87% Feb 23 158 Augll 495.285 71 Marl4 4,048 z86%Feb25 1,700 9 Feb 17 6,600 42% Apr 19 36,035 16 Mayl6 42,750 3234 Feb 24 10,840 14%J'ly25 4,375 37 J'ly27 4,551 21%J'ne29 19,668 16 J'ne 6 6,050 37 J'ne Lowest AuglS 53% Oct 100 200 11 2734 Oct 11 75 Augl6 63>4 Oct Oct Oct Oct Oct Oct Oct Sep 182 23 50% 63 % 11678 35% 96 94 32 13 68 39 1 4 19 9 19 Aug30 16% Oct 21 Oct 21 22% Sep 21 4434 Oct 18 20% Oct 623, 2934 % J an Feb Fob Aug 88 21 Jan 22 Jan 27 23 Oct. 17 47 79 Jan 27 J'ly Jan Jau 68% Mar 16% Oct 69 % Oct 85 J'ne 96% Mat 20% Aug 43=8 Oct 21 100 Oct 2 17% Sep 19 15 Sep 19 24 10334 Oct 18 79 §159%J'lylH 155 108% Oct 21 6534 62 15 58 Jau 24 7s Jau 38=8 Sep 133 27 % 33 53 9534 Hifihest Oct Oct Oct 17 Dec 78 20 148% Sep 170 15 12 Aug 30 14 24 Aug 66 Augl9 35% Oct 7 3678 96 Jan Feb Feb Oct 12878 Jan Oct 3739 Jan Sep 317g Jan Sep 48 Jan Oct 122% Jan J'ne §159% Deo Aug 104<% Jan 83% Aug 95% Feb 9 35 Dec 2238 Jan 64% Jan 3234 Feb 27% Sep 55% Feb 12 J'ly 27% Feb 40% Nov 62 May 20 Sep 38% Feb 14% Oct 29% Feb 33 Nov 55 % Feb J'ly 16=8 Oct .Yliscell llll }220 Feb 240 Oct 20 §204 Jan 235 Feb Express 6578 Oct 17 33=8 Oct 76'% Mar malgamafed Copper.. 214,542 43% Feb 2734 Oct 17 17% Nov 4134 Jau 26% 2634 American Car & Foundry 11,275 1434 J 'ly Jan 4,090 67 84% 84% 8434 843, 85% Oct 18 60% Nov 93 Jan Do pref 4,928 21% J'nel4 3434 Aug X 26% Aug 46% Feb 31% 32 31% 31% Cotton Oil 92 95 92 95 American 338 8834 J'ne 6 93 % Sep 26 82 J'ly 98 Feb Do pref 26 27 American 100 22 Augl7 26%J'lyl8 24 Nov 41%Jan 26 26 DistTelegraph •207 210 209 209 American Express 200 180 J'ne 2 j215 Aug25 171 Aug 235 Feb 738 '8 American Grass Twine .. 834 Oct 14 2,410 5 Aug 3 7% 7% 6 J'ly •2939 Jan 53, 5=8 6 4,190 2=8 Jau 6 Oct 18 Amer Hide <fe Leather 2% Oct ll%Jaa 23 23 4,300 11% Jan 22% 23 23% Oct 19 10 Oct 3739 Jan De pref 838 834 11,440 6%Mar24 9% Jau 2 8% 8% American Ice 4 Oct 1134 Jan 3a % 38 7t 25,68 38 ^ 39% 24% Mar24 42 Oct 17 16% Oct 42% Jan Do pref •12% 143^ §14% 14% American Linseed 4,530 7 J'ne 2 15 Aug29 5 J'ly 1934 Jan 640 22%J'ne 1 37% Oct IS 23% Nov 48% Jan 37 «37% 37% *32 Do pref 93, American Locomotive... 283^ 2834 28 33,159 16% Jan 3038 Oct 1 10% Oct 31=8 Feb 9734 100 9734 973, 7,509 75% Jan 100 Oct 21 67% Oct 9534 Feb Do pref 5 5% 5% American Malting 6,300 2%J'uel6 5% 5% Oct 20 2 % Mar 5% Feb 2234 23% 6,435 16 J'ne 3 2334 ucl 13 14% Sep 24%Jan 23% 233, Do pref 66% 67% 67% 6&=8 Amer. Smelt'g & Refln'g. 37,805 46 Feb25 68=8 Oct 21 3634 Oct 62 7e Feb IO834 109% 109% 110% 8,055 8»34 Jan llO%Oct 21 80% Oct 99% Feb Do pref '140 155 200 110 Jan 21 155 Oct 20 90 Aug 126 Mar 155 155 American Snuff 750 85 Jau 96% 96% 96% 97 98% Sep 8 80 Sep 9838 Jan Do pref 13638 137% Americaji Sugar Reflninf; 116,650 122% Mar 7 13779 Oct 19 107% Oct 13439 Jan 135=8 1363, •135 136 135%13J% 685 123 Jan 136 Aug29 116 Aug 123 Deo Do pref 143 146 1145 145 Amer. Teleph. & Tele 462 121 Feb 16 143 Oct 17 117% Oct 169 Feb 143% 1451, 145% 145% American Tobacco, pref.. llu 130%Febll 147 Sep 10 130 Sep 146 Jan 17 1838 7,953 18% 10 Jan 4 21 Oct 17 18% American Woolen 7% Oct 14=8 Feb 85 805 69 Jan 2 84% Oct 17 65 Oct 80 Jan 583% 83% §86 Do pref a;94 95 Anaconda Copper 94 95 20 102 4,590 61 Feb Oct 10 68 Oct 126%Feb 4,550 185 Marl6 229% Oct 19 170 Sep 225 Jan 228% 22a % 227% 227% BrooklynXJnion Gas. •7% 8% 8% 8% 5 J'lyl>3 1,740 8% Oct 18 6 Oct 15% Jau ru uusw. Dock& C.Imp't 50% 51- •50% 61 Butterick Co 400 4779 Feb 19 60% Oct 13 40 Aug 55 Jan .^934 41% (Colorado Fuel<& Iron... 40 81,030 25 % Marl2 44 Sep 10 24 Nov 82 % Jan 36 680 63 Apr 5 65 Jan 27 65 Dec 122 Jan 68% 65 J Do pref 1334 1378 4,100 8 J'ue28 I634 Jan 26 9% Nov 22 % Feb 137e 137, Col. & Hock. Coal <fc Iron. 78,233 185 Feb 8 220 Oct 19 164 Aug 222 Jan 218 219% 218 2193r ConsoUdated Gas (N. Y.) 125 1V!6 124 124% 5.81 101%Jan 4 125% Sep 23 9434 .\ug 119 Jan Continental Tobacco, pref 17 17 17% Corn Products 934 May 9 2238 Jan 25 17% 8,338 15% Nov 35 Mar •73 76 76 75 3,120 66 Mar 9 77% Oct 17 60 Nov 85 % Jan Do pref 33=1 33% 34 Distillers Securit's Corp. 2»,450 19%J'ne 9 3434 Oct 17 20 J'ly 3434 Jan 33 10,368 cl51 J'ne20 179% Jan 23 136 Sep 204 Feb 175% 176% 176% 177 General Electric 18 1734 18% 18% International Paper 9,120 10%May26 19% Oct 14 9 J'ly 1979 Jan 7734 78 77% 78 6,653 64%Ft'ij y 79 Oct 15 57 % Nov 74% Feb Do pref 3,x26 26 Mar 1 70% Oct 17 23 Nov 73 Jan 63% 63% International Power 63 63 37% 38 *3V 38 luternat'l Steam Pump.. 1,420 28 Sl-p 2 40 Apr 7 28 Dec 46% May •79 80% a!78% 79 9i»0 71% Fob 9 82% Oct 19 70 Oct 89% Jan Do pref •9% 12 Manhattan Beach •9% 11 6%Mar21 14%J'ly23 6% Sep 13 May 49% 49% National Biscuit. «48»8 49% 1,460 36 Jau 4 4934 J'ly 20 32 Oct 47=8 Feb 111 11 10934 300 100% Jan 16 11 Oct 21 94 Oct 10678 May i^ Do pref.. 24% 26=8 2478 253,. National Lead. 37,385 14% Feb 25 26% Oct 3 10% Nov 29 % Feb 96 98% l,2o5 80% Jan 26 98 Oct 20 76 Oct 95 Feb 97% 98 Do pref 137 137% 13738 L3738 New York Air Brake 3,615 120 Feb 25 13934 Jan 22 106 Oct 77 Jan 96% 07% 96=8 9/ North American Co., new 6,265 80 Marl 2 97% Oct 18 68 Sep 124%Jan 3734 39 3J 40% Pacific MaU 14,770 24 Fob 27 40% Oct 21 17 Aug 4234 Jan 8734 Sep 10839 Feb 106% 1073e 107% 10934 eop. Ga8-L.<& C. (Chic.) 98,065 9234 Marl2 10934 Oct 21 40% Pressed Steel Car 4S,545 24%MByl6 44% Oct 17 22 % Nov 6534 Jan 40% 41% 38 235 Adams 245 6338 643. 6% ' 1 82 226 82 81 230 225 25% 86% 253, 8634 1178 12% 52 22 85 62% 97 22 •85 4534 •92 2 •178 28=8 8234 21% 80% 81»( 34% 34% 20 246 Rubber Goods Mfg Do pref Sloss-ShetUeld St. & Iron 120 450 40,270 200 750 412 45 68 237 246 91 % 92 91% 92% 170% 172=8 172 190 1,749 21,045 26.850 9,620 1,035 3,820 ... n 118 12% 13% 90% 92 63% 63=8 238 Steel Feb2-) 71% Sep '29 6%May!t. 1478 Oct 14 1,100 U. S. Caat 1. Pipe & Foun. 63% 64 Do pref 6,155 40 Mar24 6534 Oct lb 11/ 117 United States Exprens... 363 100 Feb 24 .23 Aug26 13 6% May27 4%Oct 19 137e United States Leather 197,465 91 7b 92 Do pref 13.174 75=8Jan 4 92% Oct 19 6334 63% U 8 Realty <fe Improve'nl 6,459 43 Jlyl3 65 Oct 18 28% 29% United States Rubber 19,080 10% Feb 6 30% Oct 14 83 84 Do pref 4,900 41 Jau 4 85% Oct 15 20<4 21% United States Steel 838Mayl;) 2234 Oct 17 _ 16,104 8UIJ 8-'% Do pref 708,081 61%Mayl3 8334 Oct 15 35 36 7p Virginia-Carolina Cheiu.. 11,555 2234 J'ne29 37% Sep 15 108% 110% Do pref 11,225 97=8 April) 11"0%Oct 21 13% 63% 63% 28 82 & pref 7% Union Bag & Paper Do pref 68 68 13 U8 Spring... & 7% 7% Do 325 209 6,205 16 Do pref 2 Standard Rope Twine.. 6738 Tenn. Coal, Iron & RU... 33 Texas Pacific Land Trust •30 33 7% :;2% 86 46 97 66% 56% 56% 30 12% Republic Iron 12 Maylb 84-'eOct 17 62 % Nov Marl4 231 Oct 14 196 J'ly Maylb 2778 Oct 14 16 sop 7134 Mario 87% Oct 19 67 Nov 6=8 Nov 6 Maylti 13 Oct 17 37 Mayl3 5479 Oct IS 36=4 Nov 1434 Apr 15 24=8 Oct 14 12 J'ly 7434 Jan 15 8834 Oct 12 60 J'ly 31% Jan 7 4634 Oct 19 22% Oct 77 Jan 5 91 Oct 14 67 Nov 34 Mar 4 34 Sep 2% Sep 19 3108Mayl6 5m % Oct 17 25 's Nov 25 May 10 34% Oct 13 22 Aug 379 Aug 19 b38 Sep 30 4%J'ly 67 8,535 pref Pullman Company 52% 52% 45% 45% -134 230 26 Railway Steel 86% 86% Do pref 22 7, 86 -90 Do 8I34 26=8 108% 108% 108% 108% •238 92 Pacific. pref. U nit Bys Inv't of SanFran Do pref.. Do 95 21% 22% Wabash 43% 44% Do pref. 19 20% Wheeling & Lake Brie 46 47% Do Istpref 27 Do 2d pref 28-V 46% 27 fi8 89»8 62 >4 •240 228 26 86% 87% 12% 12=6 52% 54 223, 23% 85 85% 45% 4'J34 91 1\ 178 65 228 25 26% 26% 86% 86% 12% 1278 63% 5478 2278 23% 85% 85% 45% 46% I's 1^8 •82 230 •90 134 134 }230 96 16 61 '240 250 {239 240 essg 6534 62 7e 64% 26 2638 26 27 250 534 22% 45% 46 41 6 •95 • 734 8% 22*% 109 22 46 28 40 97% 98 140 150 96 22% 4534 21 14% •13% 14% 66'8 IU8I4 109 •142 D6 8% 5% 21 44% 1834 1334 22 84 32 93 •26 22 46% 46% 47 93 28 209% 210 93 28 214 40% 4434 19 27 6434 2634 16 15 59% 60 21 4238 2834 240 250 64% 91% •26% 28% 37% 1434 69 22 2134 4378 4634 32 •91% 93 •210 14% 59 46% 250 •240 22 441% 43 1838 19 45^4 18 45 26 58 5734 21% pref 108% Union i0634 Mange lor Year 1904 Hange lor I-revUmi On basis o/100-share lots Year (1903) Week Shares 50 116 33 7^ 34=0 95 9538 the Island. St. Joseph <fcGr'd Do Istpref Do 2dpref •26% 27 1687 Sales of STOCK EXCHANGE Oct. 51 12S'i2l28% 23 's 23 's 31 31 129'ii lYiday 21 20 Oct. 53 63 27 179-'4 179 Thursday STOCKS KEW YORK •15% 17 Ti 62% 6334 6234 Wednesday Oct. 19 Tuesiiay Oct 17 34% 343? 34 •129 Monday 75 71 . 17234 i)i> 33 95 6 30% JiUi Feb Nov 65 Feb Aug 150% Feb Sep 15% Feb 71% Oct 7 15 7934 J.an J'ly J'ly 15 May 9634 19% Feb 58 Feb Nov 3979 Fob Nov 89 34 Jan 17% Sep 60=8 Fob 80 Aug 128% Feb Aug23 fl91 J'ly 249% Feb Oct 1 80% Sop 93 Jau Wells, Fargo <fe Co t<8l'ii Union Tele'gph West'gh'seKlc&Mfgassen 200 5734 Dec 6 Sep Feb Jau Feb 90 Feb 22=8 Feb 8038 Feb 30 Feb 84% Feb 72 Feb 97% Feb 6 % Feb 68»8Mar 4034 Jan 95 23534 37 10 4934 100 i200 J'nelb •2:>lO 5,270 85 May 19 93 16,346 153 May 2 1 3 7g J an 21 130 100 180 Augl7 194 Jan 19 160 IslpiMt Oct 221 Sep 224 Jmu Jan Bid Ask BANKS AND TRUST COMPANIES— BROKERS' QUOTATIONS UnnkM Bid Wash.H'ht^Tl 200 West Siilel,. 500 York ril lev 375 A$lc Uanks Bid. A$k BROOKLYN Maiiufactrs'. Median ic«^j . 300 Merchanta'.. 130 Nassau 400 Nat City 290 North Sldeli. 2'26 BKOOKLTM Boronghl). BroailwayTi. . Brooklynl . People'Bll 290 17tli WardTi. 150 135 160 300 120 Sprague 200 iio" Stuyvesanti 186 Coiiyl&BBI 140 . t Bid Attc :{2S Bowl'gUreen t210 Broatlway'J'r. 310 200 tlB'2>4 C'IR'tyH«tTr 53a atj.> Central Tr'st 1950 2000 2HS (Jity Trust... 280 Colouiai 320 330 65 (Jiimnionw'th 60 Kartlrru Tr.. 210 Empire KquitableTr 650 IVuat Co'a FamiLo A Tr Fifth Ave Tr Guaranty Tr Guardian Tr Kuick 'rb'k'r Lincoln Tr. .. Manhattan .. Bid Ask A$k Bid TruKt Co's Ask N Y Llfo&Tr 1300 526 610 165 900 340 475 1360 560 165 360 500 Mercantile .. tiooo MerchantB'.. 210 MelropolitAn 610 625 MortouTruRt 870 8S0 Mut.Alli.ance 206 225 UnfonTl •iaV)' 150 170 400 380 Wallaboutli 4(15 155 Bid and asked pnces; uo .iialeH on this ilay. { L/«tM Uian 100 .siianvi. t Kx rtgUui. 8*le at Stock Exctaan ge or at auctiou this week, o Ex stock divliloud. * Trust Oo. Flrii • CITY Bankers' Tr. V. Y. 345% 280 IVusl Co«. b:x diviilonil nnrilllo.kteii. 1 1 I" lilt Van ami 'i 1000 1060 N YSec&Tr 666 North Amer. 248 •26 J Real Est Tr't 325 StandardTr'l 330 Tr Co of Am. 472% 4 80 nlon Trust 350 14<»0 V S MtgitTr 1404 1426 1460 SUtC.H 207 N'.k-nTr 200 . Wiutlaugtou 390 Windsor 185 196 IVUBt Co'» BROOKLYN Brooklyn Tr 390 FlalbuHli 200 325 l">anklin 305 Hamilton 400 Eitign Co L Isl LATr. 280 I 325 300 tr,i% Naosaii People's 305 Wllliamsb'K. 235 240 rights. ilauns nnrki^ 350 with a paragraph (Tl) are Stat« baakj i New York Exchange— Bond Stock Record, Friday, ^ OCCUPYING FOLK ItOMIS STOCK EXCHANOK Werk Kmji.no Octobeb 21 N. V. S 48coupou S 48 rej?f8tere<1 S High Ltno A'o 107 105 104^1063^ loB'sOct '04 3 's Sep '04 131 »8 132' l31'iAug'04 lOU^a 111 Oct '04 192^ y-F X>llUippiue islands 48.1914-34 y-F 1 04 '8 107 'i IO8I4 10ttl4 106'v 107 130\ Kill 15)2: 108 J'ue'OV i 108 'b 132 'e 1311^134 1063s, 131 1 UC»«11P4 KorviKn (aovcriiincnt BYaukJort-on-Maiu 3 48 eer 1.. M-S t93>4 1 95 Hi Feb '02 These are price X on the t>a Hs 01 lour marks to o ne do liar. ctf8 full paid Oct 90^8 Sale 90 '4 91 1» 410 90 95 Bepub uf Cuba us clfs lull paid Sep 102 \ Sale lO'jas 102«8 90 y8Hil02-'.,Hi U a ol Mexico a I k 58 ol 1899 W-J t97'-iJ'ly '04 *97Hi 100 Hi (is Sitnte .SeciiriticM Alabama class 4 to 5 A J.J J-J 1900 J.J 1920 J-J 1924 FA 102 "s 102 "s cousol 48. .1914 J-J \i}-d\ Class BSs Class C 48 1 90l) 190(i Currency funding 48 Distot Columbia 3-t)56 Iioalsiana */ nese a re yr new Small Korth Carolina consol 4s. 1910 6s 1919 So Carolina 4 "28 20-40 1933 Tenn new settlement 3s.. 1913 Small Virginia fund debt 2-3h...199] 6s deferred Brown Bros ctfs. ice* o 1 1 Hi A-O 102 102'4J'ly'04 109 i-i Feu' 103 Hi 102>4 Sep '04 10234 102 M05 101 i02 Hi 136'-jJ'ly'01 Mar'Ol' J-J J-J J-J J-J »6 120 96 95 96 14 97 ae-'s. Oct '01 Aug'04 Sep '04 97 95 9514 95 91Hi 30 7«2 Kailroad Alabama Cent laba ilidl Hee Hee So Ry At Coast Line Albany & Suaq He* Uel & H ud Allegheuy Valley See Penu KK AUeg & West tiee Bull K <fe p Ann Arbor let g 4s /a995 Q-J 96»4 Atch T & S Fe gen g 4s. ..1995 A-O 102 12 Sale Registered 1995 A-O lol Adjustment g 48 A.1995 Nov ay's 97'i Registered A1995 Xov Stamped /il995 M.N "II." "9534 Debemures 48 Series D. 1906 F-A 99% Series E 1907 F-A 9934 lOO^s, ' F Series Series Series 1908 F-.\ 1910 F-A 1913 FA H K East Okla Div Ist g 4s. .1928 CU1C& St Louis 18168..1915 Atl Knox& Nor lstg53..194G Atlantic Coast Ist g 4S.A1952 Charles & Sav 1st g 7s.. 193ti Sav F" & 1st gold es..l934 Ist gold 58 1934 Ala Alid 1st gu gold 5s 192b Bruns & 1st gu g 4s 193« W W M S M-b J-D M-S J-J 99>8 1 96 102 Hi 163 10334 Sep '04 9934 9834 9934 9714 35 '04 Ill J -J 96 93 97>4 9734 Oct '04 & N W See Sou Pacific Bait & Ohio prior g 3 Hjs. 192 97 98^ 264 SS"* A-O A-C M-N SU Sp Oca <feQgug4sl918J-J Atlantic & Danv Hee South Ky Atlantic & Yadk See South Ry 9934 9334 98^ 112" Sep 98 Hj Sale 137 126 87H» 95H2 98 100 1. 9714 1121a 87 14 98 82 Hi 82 Hi 82 12 Jan '04 95 95 "4 99 Aug'04 971^,8016 •112'2 91^8 96 98^8 ^04 99 10334 97V 963* 9678 99 Iowa Div sink tuud5s..l919 A-O IO8I4 Sinkinglund4s 1919 A-O ItOHi Nebraska Extension 48.1927 M-N 1063e 10634 Registered 1927 M-N Southwestern Div 48 98 1921 M-S Joint bonds See Great North Detienture os 1913 M-N 108 ... Han <fc St Jos consol 68. .1911 M-S 114 ... Chic <fe E 111 Ists cur 6s. 1907 J-D 10778 1081* Ist consol g 6s 1934 A-O 132 1 96 10218 97 12 Sep '04 9534 Oct '04 98 9934 9S\ H; 97 Hi 9934 9214 9634 9914 112" il2" 91 General consol lsl5s 1937 Registered 193 Chic <fc Ind C Ky 1st 5s.l93U Chicago & Erie See Erie Chic In & Loui.sv ref 6s. ..194 Refundiug gold 5s 1947 Louisv N A <fe Ch Isl 6s. 1910 Ohic M il & St Paul con 7s 1905 Termmal gold 58 1914 General g 48 series A..el989 Registered el989 General g 3H28 series B.el989 Chic <fc L Su Div g5s. ...1921 Chic<feMoRiv Div 5s.. .1926 lOO'g <fe 112'^112S8 109 114 14 93 93 9734 98 J'ly04 Registered 1911 M-S *101Hj 10314 i ' < Registered Monon Riv Istgug5s..l9iy F-A 1st cgji-is.. 1930 vi-s Pitts Clev <fc Tol ist g 6s 1922 A-O Pitts West Ist g 48... 1917 J-J J P <fe Co certis Bat Creek S See Mich Cent & M 10334 I<fe 100 97 118 100 . .100 & Beech Creek See N Y C & H Bellev <fc Car See Illinois Cent Bklyn & Moutauk See Long 1 Briins & Buttalo Buflalo West a Y& See Atl Coast L Erie ^ee Erie R& Pgen g 6s.. .1937 A11& West Ist g 48 gu.. 1998 C1& Mah l8tgug5s 1943 Boch & Pitts Ist g 6s... 1921 Consol 1st g 68 1922 Boflalo & Buff _ M-S A-O J-J F-A J-D & Southwest See Erie Susq Isl ret g 4s.dl951 J-J I13>a... II712 ATig'04 100 110 122 103 Apr'97 12612 121HjMar'04 1237gl27'a 1231* Aug'04 .. 99 14 Oct '04 ... 1 03 Sep '04 II914 122 Sep '04 ; Registered 1934 A-O CRIF&N Wl8tgu68.1921 A-O M St Ist gu g 78 1927 J <fc L, 5s Registered Carb 110 112 Hi Sep '04 -L* Clanada South Istos -'2a I2OH2 Mar'03 & Shawn see 111 1908 J-J 1913 Nl-S 1913 M-S Cent 104 Sale >« 107 04 107 107 w, 104 S 107 S«e8eabAlrL See N Y c <fc H Ced R la F & N See B C R & A Cen Branch U Pl8tg4s... 1948 J-D P4>B 95 Sep '04 Cen Branch Ry See Mo Pao Cen RR <fc B or Ga col g 6s 1937 M-N lUiallS 112HjOct '04 Cent of Ga RR 1st g 68..pl945 F-A 119 1203< 12034 Sep '04 Consol gold 58 1945 M-N 113 Sale 113 11334 Carolina Cent Carthage <fe Ad Registered Ist pref income g 5s 2d pref income g 6s 3d pref income g 6s 1945 M-N pl945 Oct pl945 Oct pl945loct I 8708 Sale CO Sale 49 Sale 90 Bky Co& Soon gug 68.1941 M-N Bklyn Un El Ist g 4-68.1950 Kings Co El 1st g 48 1949 Nassau Elec gu g 48 1951 City & S Ry Ball Istg 58.192'.: Conn Ky<fc Llst<S; ref g4i9S '51 Den Con Tr Co 1st g us... 193s Den Tram Co con g 68..191ii MetRyCo 1st gu g 68. .1911 Del Cit StRy Istcon g6s.l90i FA FA J-J Sale Sale Bway<fc7thAv lstcg68 194; IO6H1 83 14 109 101 93 89 92 'b Sale Sale 88*4 J-D J-J J-J J-J 100*^ J-J loo . llC'-i •2io price Friday; latest price this week. Sep '04 1081 93 I & Sep J'ue'OO 103 Nov'Ol 1 6 Q9\ 107 C83 72 '6 85 1 10739110 100 106 '26 100 9(1 82 '04 118 S lOHiSep oDueJaa ll'i's 1908 1919 1910 1910 1909 J 177 J J 115'4 I0714 11134 108*^ 93 79I4 89^8 90 98 27 U Due Apr 112'Hi 1 I2I4 < Ret'islered trust gold 5s <fc G gen g 6s .01919 J-J Consol gold 58 1952 M-N Des M <k Ft D 1st 4s 1905 J-J l8t2Hj8 1905 J-J Extension 48 1905 J-J Keok & Des M Ist 58 1923 A-O on Next Third Ave Ry Ist g5s..l9;i7 .M et S El (Chic) Ist 1; 4s. 1 9S> .MU El Ky & L 30-yr g 5s. 1926 .Minn St Ky 1st con g 68..1919 .5t JoKy Lt HifeP l8tgo8.1937 .St Paul City Cab cou g 5s. 1937 Union Kl (Chic) 1st g 5s.. 194.') United RRs San Frs f 48.1927 United Rys St L Ist g 48.1934 Chic St 40.yr cons g 5s.l93t; W liklyn .May J-J FA FA a 99 Hi 103 91I4 ... ... 49 98Hi 96ii '954 elHi >'0i4 74Hi 8IH1 102 99 95>« 91 90Hi 91"^ 105 10534 10934 10?34 1 00 =e 10214 103 Hi 107 100*4 100 12 105 108 14 1121*115 10538 108 »s 129 129 114ial20 11214117 137HiJ'ly'99 II634 116^8 106 Aug'04 169 Mar'04 113 Aug'04 10739 1073t, U6»4 106'8 11134 lU 1113, 111 Sep '04 115»i,Sep'04 112 Sep '04 II8I4 II8I4 130 Hi Oct '04 104'8J'ne'04 102^8 May'04 100 Oct '04 103 Nov'98 117 J'ly '041111 Hi Dec '03 110 J'ne'04 107 Mai'04 105 J'ly '04 104 Mai-'04 II6H1 II318 II8I4 12838 130H, 100 116 109 10534 10434 10734 117»4 11634 IO634 104*4 11 UeasllSHa 106 lOH 169 169 112Hill3 106 107^% 110i4ll2i^ 10934 112 114 lieig 110*4 112 1141411814 127»8l30Hi 102*4 lOo -'102=8 10238 iViii 104 106 104 IO4I4 107i5ll0>a 108*4 108*4 UJHillS II418II6 Nov'02 106 12934 Sale 106 Hi 106 1« 109Hill2«a 123 Hi 1221* Sale 100 Hi 97 Hi , 96Hi 95 94 13134 Dec 'OS 103 109 Apr '04 1'25 J'ue'04 Sep 126't, 129*4 103 li.>3 H7i4ll8'8 118 118 142 Hi Feb '02 13034 130*4 101 Hi 105«8 iis" 108 1, llOHi 106 107 105 Hi May 04 10538 Nov'o3 109*4 J'ne'04 129*4 1293. 118 96H1IOOI4 I 114i8J'ue"04 105 104 llO^g no 115:«8ll9 109=8 11234 11434 117 109*4 111*4 llOHiOct '04 IO834 Jan'04 118 J'ly '04 106 105 10714 nil* Aug'04 112Hi 132 '03 121»8l-'5 120 1224 122 Hi Aug'04 105 lO.i 147 101 105>a 107 J»D'03 IOII4 IOII4 101'«Sep'04|. 97 J'ly '04. 97 97 96 MaV04 96 96 93 M»y'04 93 93 90 May'04l. 90 90 76^8 78 11744 664 78 76i-^Sep'04 .... 70*4 761, 86I4 8734474 73 89 105 Oct '04 104«8 105 1 OS's Jan '04 103'8l037g 95 14 Oct '03 95 Sep '04 95 96 98 Jan '04 93*4 98 . 7734 Sale 87 Sale 105 Hi , 104»4 99 '6 96'8 99 106 106*4 J'ly '04 Due rue AUuejly ic 92 Sale dl II7I4II9HJ 117 nsv 104 Hi 106*4 96*8 11734 J-J $334 84 96*. 117HiOct '04 94 J'ue'Ol 106 Oct '99 110 110*8 AO AO 96»8 9634 J-J J-J 92*4 92 I4SI 89 Oct "04 ....1154,119 n;"\Scp'04 M N S 117*4 114 93*g 9634 116 94 121 95 J'ue'O 10 J'ly '04 110 no 109 Hi Dec' 83 Hi 84 i« 299 75 Hi 85 86I4 Oct '0-1 79I4 S6>* 99 Dec '97 1 Sale M-N (•an and Electric LiKlit G L Co Ist g 5s... 1947 J-D U Gas Ist cou g 59.194;" Vl-N .\tlanta 109S UaiHvny St R.v—fCon^Ref g 4s2002 A.Q Col<fe9lhAvlstgu g 58.1093 .\l-S I.*x Av<fc P Fist gug 53 1993 M-S Third Ave RR con gu 4s 2000 J-J i'lS'i- 103 I'liwe. Met n6H Due MN M-N 2002 M N 1913 M-S W '04 .... M-N 10313 109 Hi 109 "s 9714 98'» Apr '04 Sep 'm D 100 621100 Hi 108 97i2 0ct '04 1 1 6 Hi Apr 116'8 J 10434 1091- J'ne'(i4 97Hi 1123< J -' 114 102 126-^131Hi lllHill6Hi 108 109 Hi 169 184 109 111 116 J 134', ---|lI09HilllH» 12' 11434 12oi« ---ill3 118 '04 116'8Sale RR 4s. .2002 Ohoc Ok BONOS—Continued ioy" Mar'98 118 ii 128 r.7Hl 133 1 131 Hi Oct '04 115'4ll6H: 116 116 II034 ... i 09 Hi J'ly '04 177 ... 1>4 18 11034 ... 111 111 lo9Hi... no Oct '04 1921 J-J 1916 J-J 1924 J-J 1910 J-J 1910 J-J 191S Pac CoU l06'^112Hi h9\ 230 98 95 A-C J-D V, 1081*, 10734 107 85 109 13134 ... 116Hi 11968 11218 191t; Street 107 84 109 103 Gr Rapids Ry 1st g58...ol91t J-1) I03»e. louis Ry Colstcon g 6s.. 1931 J-J Market St City Ist g 6s. .191;. J-J Met St Ky gen col tr g 68.1997 FA UnagSalt ^ 96 116iil20S 1U1SCE1.I..ANE01I!S Street Uailway Brooklyn Rap Tr g 6s 1945 A-O 1st refund conv g 48 2002 J-J BkCity 1st con 08.1916, 1941 J-J Sep J.J J-J J-J J-J J-J J-J FA 72 10334 11334 J'ne'04 105 Hi 107 89 i'u 6534 89 61 126 28 63 4934 113 18 81 107 87 59 47 Dec '02 104 107>4 1071 7jlllli, 107 Hi 12^ Apr '04 120 120 117 ChiCi&Northwcon8 7s N48 P4s Chic R logi^ Oct '04 Sep '04 120 Sale .- J'ly '04 112s -•i ••I 106', 120 . 97 >2... Bur Cedar R <fc No 1st 5s. 1906 J !> I0314 Con IstifecoltrustgSs.. 1934 A-O 117 1981, 92 13 92 la 104 Dec '03 Feb '04 1183fc FA ... 10034 U338 Extension 4s Registered General gold 312S Registered »1987 Q-F Sinking fund 68.. .1879-1929 A-O 105Hj105H2 108 109 H( Registered 1879-1929 A-O 119H2122 Sinking fund 5s. ..1879-1929 A-O 98 100 Registered 1879-1929 A-O 100 100 Debenture 58 1909 M-N Registered 1909 M-N Debenture 58 1921 A-O Registered 1921 A-O Sinking fund deb 5s 1933 M-N Registered 1933 M-N Des Mo & Minn Ist 78. .1907 Milw<fe Madison 1st 6s. .1905 M-S 113H^117»8 North Illinois 1st 5s 1910 M-S Ott C F & St Paul l8t 58 1909 M-S Winona & St Pet 2d 78 . 1 907 M-N 121Hil21Hi 121iel24 MU L S & West 1st g 68 1921 M-N Ext <fc Imp 8 fund g os 1929 F-A 97 Is 100 H, Ashland Div 1st g 6s. .1925 M-S IOII4 10378 Mich Div l8tg68 1924 J-J Convertible deb 6s 115H»122 1907 F-A Incomes 1911 M-N 110»2ll2Hi Ohio Bock Isl <fe Pac 68. ..1917 J-J Registered 1917 J-J 102 Hi 106 General gold 48 1988 J-J 1041^ 109 Registered 1988 J-J 106 107 H, Coll trust Series C 4s .. 1905 M-N H48 1910 M-N M48 1915 M-N 1 . Sep '04 1* J-J D 1913 1915 Q.F 1886-1926 FA 1886-1926 1987 M-N Ist consol 6s Apr '04 02 10614 105 M-N Wis& MiDnDivg5s 1921 MU & No Ist M L 6s.. ..1910 92 Hi 100 87 14 92 14 105'2Mar'u4 108 Sep '04 1 9 Hi Mai'04 100 Oct '04 100 Sep '04 . l8t78 9236 87Hj 9014 J'ly'02 107 108 14. 103 101 14 D Exten Lacrosse <feD Ist 5s Mineral PotntDivSs So Minn Div 1st 68 Southwest Div 1st 6s 92^8 96 Hi 92I4 95»4 47 IOOI4 10334 82 92 91 Os /tl925 Q-J Cen Ohio R '04 lOOWjOct '04 101i4Oct'04 923b Oct '04 99H2 100 102 W : 9534 Sep 93 lOSi^ Sale PJun<fcMDivl8tg3'38l925 M-N 9018 P L E & Va Sysref 4sl941 M-N 100 Sale Sonthw Div IslgSiaS... 1925 J-J 91^4 Sale ' ; 95 12 9534 Sale /il92o /tl94» A-O /il948 Q-J Gold 4s Registered Couv deb 4s Sou assu g 6s D Div 1st 7s Hastcfe 1st 58 Austin 1 & Far 1093, 1 !» High Ao.j^ov Hig\ Lou) .\I-N J-J 1910 J-J PacDiv6s Chic& P WlstgSs Dak Gt So g 58 Chic<fe 126i8NoT'03 11208 Jan '04 II4I4 II4I4 11434 Aik bid ^^—(ConHnued,) or Mb a.. Mar'02 Mar'03 1 IIH'2119\ 121 102 01 ifSito 1 02 14 Sep '04 109 '4 Oct '00 102'-2Mar'02 100^4 J-J n the Hanqe Latt Sale AO t Japanese Govt of Jtangt =« Since >^;i ><!|./anttary Wf^k-I tvoiav October 21 Chalt Div purniou g 48.1951 J-D 93>9 92HiMBy'04 Mac<& Nor Div lat g 6«.1946 J-J 104 Hi 104 Feb'04 Mid (ia <fc All Div 68 1947 J-J 103Hi 102 J'ne'99 Mobile Div iBtgus 107 '4 Aug'04 1940 J-J lO-^i* Cent of N J geu'l gold 58. 1987 J-J 134'4 131 ' Oct '04 Registered 132'4 KVJSl 132 '4 132 Am Dock& Imp gu 58.. 192) 11334 ll4Hi 114 114 De& Hud R geugug5s 1920 J-J 108 Leh & WUks B Coal 58. .1912 M-N 10434 ... 10434 104'« Con ext guar 4H4S (^1910 y-M 10218 102 N Y <fe Long Br gen g 48 1941 M-S 10134.,. 'a 102 Hi Oct '04 Cent Pacific See So Pacilic Co Clias & Sav See Atl Coast Line Ches <fe Ohio g 68 ser A.. A 1908 A-O 105 >9 108 J'ly '04 Gold 68 10914 01911 111 Hi J'ly '04 Ist consol g OS 1939 M-N 120 Sale lIiO 120'4 Registered 1939 M-N 114H; 117 Hi Oct '04 General gold 4Hi8 1992 M-S 105 Hi 106 IOoHj 106 Registered 1992 103 Apr'Ol Craig Valley Ist g 5s 1940 J-J 112^8 112 May'03 Rife A Div l8tcong48..198y J-J 102 Hi 103 102«8 102% 96 '2 2d cousol g4s 1989 J-J 9«HiSep '04 Warm Spr Val Ist g 08.. 1941 M-S 110 106H<<'ct '02 Greenbrier Ry Ist gu g Is '40 .M-N 9534 90 -i Sep '04 C)iic<fe Alt RR ref g 3a... 1949 A-C ^3 833, 8;-lHiOct '04 Uailway Ist lien 3i28...1950 J-J 80 Hi Sale 801-^ fclv Registered 1950 J-J B334 Apr '0'/ Chic B & Q— Cii & la D 08 1905 FA 10434 Apr'O Denver Div 48 1922 FA 1013 Sale 10134 10134 XUinois Div3H»8 1949 J-J 95 Sale 9434 fRegistered. 1943 J-J 90 Hi Apr '04 Gold 48 1949 J-J l05-'8 10534 Aug'04 lOS 10714 105i4l00'4 105«(,Sep'0-l lOii^ J'ly'04 10G41O7 N. y. 1 Low High Central 105 Pru* STOCK K.XCnANGE Wkkk EMiJiN(i Octobeb 21 Since 1 /tllto 48C<Ml|iuli A Ik Weekly and Yearly J J UUND8 Range January i(n\ 1051. 105 '4 Ang'04 104^< 10 j'. 106'4 .MaJ'04 104»8 1U5', 105 Ang'04 lU5-ibl06 0534 Oct '04 U S ;<8 rt-KisKTuil fcl91> U S ;{8c<>U|.()ii fclitl.s U b :i8 ren Mniiill b(>inlH..fcl'Jl^i U S 38 Cull siuhU bou(l8..fcl'.Uh U S48 rej,'istcicil /tli)0 V U V Weekfs Kantje or Last Sale Bid V. M. (»oTcrnment K '28 coiiNol ie(;iHierod.dl93U Q-J S 'Js couHol coiiiiun dl'JSO U V Price tVidav October 21 I'ACiElS . ...117i« 117i4 0ct '04 Da© Au« oDue Oct II214II714 p Due Nov «Option sal* 8 J 1 —Page Bond EeCOrd—Continued 22, 1904. Oct. IJOND* Price Weeic't STOCK EXCHANGK Week Ending October 21 Chic&StLi &ee Atcli T & Sa Fe N O 6'ee 111 Cent Ohio St L Pitts See Peun Co Chic St L Chic St P M & O con 6.S...1930 fVidav Range or October 21 Last Sale N. T. So* Bid Low A.*k Migti -a Range 1 No IMW High <fe J J-D M.N J.J A-O 80 .1- Cin S&C SeeCCCStb Mah See B B & P 123'2J>ly'04 120 1234 37 72 >« 8234 110 IIII4 80 Apr '04 l(>4SiDec'03 113 Oct '00 113'4 J'ly'04 3-1478 9618 W& 98 98 Oct J-J J-J WVal Div l8tg48...1940 J-J W C consoi 6s.. 1920 M-N C St in»4ii3'4 97 994 /C1936 Q-P .1928 1914 CCCcfc I consoi 78 1914 Consoi sink lund 78 General oonsol gold 6s. 1934 1934 Registered 1 8t pref 4s. 1940 Inrt Bl <fe 58...<a938 Istpf Ind& O Peo <fe East Ist con 48. ..1940 1990 Income 4s CI Lor <fe Wh con Ist g 6s. 1933 Cler <fe Marietta See Penn RK Clev & Mahon Val g 68...193S CleT & Pitts See Penn Co 1947 Col Midland Ist g 4s Colorado & Son Ist g4s... 1929 Colmu <fe Greenv Sa So Ry Col & Hock Val See Hock Va. W W & & 121'4. 115i4J'ne'04 120 J'ly'03 131 130 112 J-J JD J-D J-J J-J . A-0 95«8l02'4 993410114 98 98 4 9934 103 99 100 Q-J 11534 J-J 105 105 1004103 . Sep IIO4II61, '128" '04 116 Peb'04 116 68 6934 864 88 56 82 M-S M-N J-D J-D J-D MS 109 »8 Oct '04 130 J'ly'04 108»8. 129»8. 131'4. l-29 Ill's. 104 Si. 104^8. 114 4 J'ly'04 10534 Oct '04 1 08 >4 J'ly'04 102 Feb '03 92 ' 13734 13034 10334 102 1, . iso" let g348 Ist gold 38 8terUng Extended CoU Trust J'ne'04 105 Mar'9& 1104 8514 102»4 104 . , 142J8. IOOI4 10534 108i4l09'e 13334 1 37 »4 105 4108 104 106 103 103 142 146<^ J'ne'04 May'04 Apr '04 1465b Oct '04 147'uJ'ne'02 No Low Hig\ 116 1214 101 1074 1104 13 107 107 10234 1104 854 84 Oct '04 71 103 Oct '04 10134 994100 99^ 88^Saae 88 883< 37 Jan *02 24 May'04 gold 4s 1953 Registered 1950 Cairo Bridge gold 4s IiOmsvUle Div gold 348.1953 1921 Middle Divreg5s 1951 Omaha Div Istg 3s 1951 St Louis Div gold 38 1951 Registered 1951 Gold 348 1951 Registered ..1951 348. Spring Div Ist g Western Lines Ist g 48. .1951 Bellev&Car Carb & Shaw 1044 104 1044 104 108 10834 109 1044 10 102 10541074 10041004 116 Arr*04 113 4Mar'00 10414 125 114 11914 94 108 101 102 101 934 96»« 8434 80 85V, 85 "b 93 95 10634 1074 '99 Nov'OO 12441244 Nov'98 Nov'03 11934 Mar'04 93»8 May'04 90 119 ... ... ... 118 87 11934 984 106 ... 104 4 Sep '04 102 4103 4 102 4 Oct '04 10241044 10241024 109 109 106 106 98 101 106 ... ... 1214 100 Sale 70 65 114 87 Mar'04 107 4 Dec '02 99^8 100 4 Int& GreatNorl8tg68..1919 70 70 1024 106 1084 1074 J'ly'04 1274 1244 Apr'04 1244... 1951 1951 1951 Registered Memph Div 1st g 4s... 1951 St L Sou 1st gu g 4s.. ..1931 Ind Bl & West See G C C <fe St L 1935 IndDecifc Wist g 58 1935 Istguargold 58 1950 Ind lU & la Ist g 48 Gold 348 4 Oct 115 115 1014102 944 ADg'04 100 10694 1034110=^ 1034 102 101 98 90 109 105 4 J'ly'04 934... Registered 904 984 9638 Oct '04 Sale 98 4 Sep '04 122 Oct '04 994 100 70 Nov'03 11438 Oct '04 B7 86 118<!el22 16 97 1004 i09 86 4 1143^ 68 734 89 KalA&GR SeeLS&MS 100 Sep 98 4 385 98 96 1923 1st 6s Ist g 4s. ..1932 .1951 5s.. O g KC&MR&B 24 36 Kan C & Pacllic Kan CitySou Ist SeeStL&SF See M K T <fe 994110 '04 Sep '04 le Sep '04 Sep '04 80 80 1134 Oct '04 100 92 4 954 45 37 664 84 10934 113 4 100 95 43 98 11339. 113i4Sep'04 111 11314 M-N iie^B 116'4Sep'04 113 II6I4 714 71»8Sa]e gold 3s.. 1950 1950 Registered 110 Sale Aug'04 94 Mar'03 100 1034 994 Oct 'OS 70 70 103 106 103 103 105 102 Oct '01 io3' 104 Oct '04 101 Apr'04 1054 1064 Mar'03 964 96 Oct '04 108 123 May'99 86 854 854 7934 85 8538 Oct '04 1909 2d gold 58 1921 3d gold 4s Iowa Central 1st gold 5s. .1938 9634 1014 Relunding g4s 1951 1041410414 Jetterson RR See Erie 103 109 94 101 an <fc Mich See Tol & O C 91 K C Ft S & M See St L <fe S F 83 101 14 10034 104 14 J'ly'04 109 107 10034 Sale 10638 108 Sale 12934 98 100 ChicStL&N 127 IIII4II54 J-J 63 Kentucky Cent See L & N Keok & Des Mo See C R I & P KuoxviUe & Ohio See So Ry 118 ake Erie .few let g 58.. 1937 I 1.1 2d gold 5s 109 . Lehigh Val <Pa) coU g 5s. 1997 Leh Val N Y let gu g 44s. 1940 Registered 1940 Leh V Ter Ry Ist gu g 5s. 1941 Registered 1941 109'8 . V Coal Colstgug5s.l933 Leh* N Y Ist guar g 48.. 1945 11014 9734 11 84 11541204 44 J'ly'04 no 110 110Vjii44 10 110 1074 May'04 109 4 Oct '04 105 Jan '04 1094. 10334 72 Oct '00 120 4 Oct '04 . lil'4. 1941 North Ohio 1st gug 5s.. 1945 L Sho <«! Mich 8 See N Y Cent . 11538. 116 109 4 111 99 1114. Leh . . 116 1074 107 Augt04 Oct '99 Sep '04 Aug'04 10434 no 105 116 105 116 107 111 99 92 Registered 106 »8... 114 J'ne'04 11438... 11334 J 'ly '04 lOea.llO'a 1093eSep'04 11438 111 May'(l4 Erie l8teitgold48 1947 1919 1923 4th ext gold os 1920 6th ext gold 48 1928 1920 1st oonsol gold 78 Ist oonsol g fund 78 1920 Erie Ist con g 48 prior.. 1996 Registered 1996 1st consoi gen lien g 48.. 1996 Registered 1996 Penn coll tr g 48 1951 BnftN Erie Ist 78. .1916 Butt & S gold 68 1908 ChlcA Erie 1st gold 6s.. 1982 JeB RR Ist gu K 58....al909 Long Dock consoi g 6s.. 1935 Coal&RR Ist cur gu 68.1922 Dock <fe Imp l8l cur 68. .1913 N Y & Green L gu g 58.1946 N Y Stis & Ist ref 58.1937 2d gold 4128 1937 General gold 68 1940 Terminallstgold 58. ..1943 Regis $5,000 each. ..1943 2deitgold68 8d eit gold 4 48 102 Hj 92 Sale I26I4 104'* W 4 861 84 89 "77 8534 8834 8534 9514 1224 123 Oct '04 I25I4I2514 Apr '04 J'ly'04 30 116 123 103 103 130 132 113411834 1134Nov'03 113"^ '117 114Vi l8tg68.1910 108 4108 4 108 4 Jan '04 115 115 98 Aug'04 1094115 107 1034Aug'O4 Sale 117 1014 104 1134117 08 117 AC 69 1924 Sato Sale 99 9934 1024 K Co E Life P Xd E lU See N V (i <& E L H 1 Kq O LN Y Ist con g 5s. .1932 M-S 1114. Eq G Fuel See P G i C Co CtaaA ElecBergCoc g58.1949 J-D Oen Electric deb a 348..1942 F-A 894 90 Or Bap G LCo Istg 6s. ..1915 FA Hudson Co Gas Ist g 58. .1949 M N 106»4 Kan City Mo) (jas let g 58 1922 A-O 100 Klng«Co El Li Pg 68. ..1937 A O 1084. See 69 1914 99 105 694 9934 J'ue'oa . 1997 A-O E<1E1 llBkn Ist Cong 48 1939 J-J £>cOa»LofStLl8tg5».«1919 g-F 120 General gold 4s Ferry gold 44s Gold 4s Unified gold 4s Debenture goldSs NoT'03 '4 100 10734 Dec '00 109 100 Oct '04 100 96'4 0ct '04 11014 lOOOg J'ne'04 lOO'e 100'% l8t5s 1911 N iB&MBlstcoug5sl935 N Y<fc R B Ist gSs 1927 NorShB 1164117 1164 lOJ 101 .... 100 .... 984.... 100 101 99 100 100 1134 110 100"8 .... 1164 116 Sep '04 Oct '04 Oct '00 98 10034 100 1014 1004 1054 Mar'03 112 Mar'02 107 4 Sep '04 112 4 Apr 'OV 1(>34 103 4 103 14 1193^12014 118 J'ly'04 117 11534 Aug'Ol 102 Sale 102 102^ 1017eJ'no'04 ggur)sol932 Louisiana (ft Ark 1st g 58.1927 ijouisv <fc Nashv gen g 63. 1930 Gold 58 1937 Unified gold 4s 1940 Registered 1940 1st con Coll trust gold 58 1931 6-20-yr col tr deed g 48.1923 E 11 Nash 1st g 6s. ...1919 1004103 .... .... .... 1164 1164 97 4 Sale & 97 114 1144 1164 974 Sep '04 110 110 J'ne'04 1003, 100*4.... 11034 10834 10734 964101^8 101 1074.... 1044.... 118 10741074 16 1004 104 4 1 1 5 14 1 1 114411534 98 1024 10141014 109 116 4 964 994 1114 114 oa Next I'nse. iinn nnd Electric l^ifdit Milwaukee Gas List 4s.. 1927 M-N M at Fuel Gas Cu See I'eop Gas N Y G E L H & P g 58. ..1948 J D Purchase money g 48. ..1949 FA Ed El III Istconv g 5s. .1910 MS 9434 Sale 1 03 4 105 J 1184 l"eoGa«<feC let gu g Os.. 1904 M-N 2d guar gold 68 «2 1904 J D Ist con gold Os 90 4 88 1943 A-O Refunding gold 68 1947 ChQ.L<fcCkel8tgug5s 1937 1034109 Con G Coof Ch Istgu g5s.'36 100 100 Eq G <fe F Ch Ist gn g 68. 1905 Mu Fuel Gas ISt gug 58. 1947 M-N 1174122U 934 90 14 SyracuHe Lighting Ist g &s.'51 J-D 105 llOU Trenton O * El Istg 6s.. 1949 M-b 1024 1995 J , X Y<fey El 1,&V\ 8t con g osl 930 FA 1044 .\ Y & Rich Gas Ist g 68. 1921 M N 10134 124 125 110«8 11034 944 944 10534 J'ly'04 120 4 J'ne'04 101 MRy04 100 Mar'()4 1064 111 96 4 90 1 02 4 110 11514 1 1204 00 4 102 100 100 1014 J'ue'04 1014 1014 IOI34 Aug' 04 101 11834 125^ 103 104 12fi3, 10438 10538 103 lOH 108»4 109 10(;4 1074 107 1024 1024 Sal» 874 904 904JTy'04 914 93 111 Sep '04 Apr'04 OofOl 107 1024 Sep '04 1024 102 14 1 1094 03 106 4 1094 104 101 1074 1024 1014 106 97 109 Feb '01 1064 week. aDoeJan bOaeFeb dDaeApr eDueMay ADuaJ'lr JcDueAos oOueOot oDueDeo (Option 110>4 FrlAay; lat«stbld and asked this 61 4 Oct "01 »04J'ly'O4 122 4Ang'04 . 954. 704 64 95 ref gold 48 1938 1922 1932 1949 1934 1949 Bklyn& Mont Istg 68. .1911 Ist consoi gold 58. 112 <fc , 2! . 1034. See Erie Isl'il— l8tcong5s./il931 1st consoi gold 4s /il931 BONUS—Continued 19234 ion 171419234 <fc ( lll«e 10641114 iUl!!iC£ia.jiNK4)US Gas and Electric Linht Gas 1st g 5s 1947 Consoi Gaa con v<leb 6s 1909 J-J OoDsuni Gas See P U <S> C Co Detroit City Gas g58 1923 J.J Det Gas Co con Ist g 6s. ..1918 FA 1013(, no lOSTglia 110 110 Ill>all2i2 11140ct '04 gug&s. 1942 4100 4 984 9S4 96 Guar 122>ii 98 104 117 93 107 Long 125'4 J'ne'04 103'a]04>a 103 133 "8... 132 118 W 89 Feb '04 EIC&N Leh Leh 13141354 Long Dock Sep "04 Aug'03 8734 8634 1945 Ist g let pf 68.1914 Gold guar 5s 1914 & Hud R See Cent of N J & Wilkesb See Cent of N J 10341034 Leroy & Caney Val See Mo P 1004 22 984Jau'04 '88 '8 Sale" 93 114 114 1123811334 IO8I4III 111 1144 103 4 Sep '04 133 134'a 13218 13234 130 100 Hj Sale 100 Y& Xo price 107 111 1951 1951 1951 1951 1951 1952 1952 LNO&Tex gold 48. ...1953 89 4 <fe * Since January 1 \6%K ib3 4 1004 Apr '04 W 1st gold 348 Registered 6934 1916 J-J Porchase money Os 64 105 1999 H V 1st ext g 4s. .1948 Illinois Central 1st g48..1951 116 Aug'Ol 149 106 104 103 . . KdKlXllBku A Tex See So Pac Houst E <fe Hoast & Tex Cen See So Pac Co 128'8l33 13334 Mar'04 . , Buflalo S Higli 121 4 Sep '04 106 Oct '04 112 J'ne'02 844 NH Colife 1274130 4Aug'04 129 "8. ' 1st <fe Han 1094112»8 130iaAug'04 140 Oct '98 Des Moi AFtD Se«CR&IP Des M & Minn See CU & N W Des Moi Un Ry Ist g 58..1917 M-N 108 llOSi Det M & Tol See L S & M So .100 Det & Mack Ist lien g 4s. 1995 J-D 96 Hj. Gold 48 1995 J-D 43i<j. 1951 J-D Det Sou Istg 4s 80 Ohio Sou Div 1st g 48.. .1941 MS 11234 Dtil<ft Iron Range IstSa.. 1937 A-O Regis t«red 1937 A-O Ea Har Ask Low 1104... Hock Val l8tconsolg44s.l999 i04>4NoT'0i 69S4 Sale 87''8S»le J-J F-A 1917 Alb <fc Sns Ist con gu 78.1900 A-0 1906 A-0 Gtiar gold 63 1906 A-0 Registered Bens <& Saratoga 1st 7s. 1921 M-N 1921 M-N Registered Del Biv RR Bridge See Pa RR Denvdfc R Grist con g 4s. 1936 J-J 1936 J-J Consoi gold 4'<j8 Improvement gold 5s... 1928 J-D Bio Gr West 1st g 48. ...1939 J-J Consoi and col trust 43 1949 A-0 Utah Cent 1st gu g4s al917 A-0 Bio Gr So gu See Rio Gr So Den & S West gen s I g 58 1929 J-D WUk& al Registered . MldRRofN J ^ or Last Sale 1224 1064 1034 W 98I4 17 96 10034 98 98 A-0 69 Sale 70 125 58 69 70 Apr 114V, »2 112 Feb'04 11241124 A-O N YLack& W 1st 6s.. .1921 J-J 1923 FA Construction 58 1923 M-N Term & iniprove48 .1906 AG SjT Bing & N Y Ist 7s. Warren 1 st ref gu g 3 Hzs 2000 FA Del & Hud l8t Pa Div 78.1917 M-S & Atl g 5s. .1937 East of Minn SeeStPM<&M Mt Ten Va & Ga See So By Klgin Jol <& East let g 58.1941 Kbn Cort No See Leh & N \ D Registered 98 98 M 2d 68 DtU 80 Shore M A W Registered M See So Pac Co VlalH* Hofl882 1st 58.1913 A-O Line Georgia & Ala See Sea Ga Car & Nor See Sea A Line Georgia Pacific See So Ry GUa V G <fc Nor See So Pac Co Gouv & Oswegat See Y Cent Grand Rap & Ind See Penn RR Gray's Pt Term See St L S Gt Nor— C B <fe Q coll tr4s 1921 1921 Registered. /1 Greenbrier Ry See Ches & O bl952 <fetg58 J-J QnU&SIlstref See C B <fe Q <fe St Jo &H ousatonlc See N Y Col Conn <fc Term iSe« N <fe Conn & Pas Rivs Ist g 48.1943 A-0 Dak <fe Gt So See CM <fc St P K&T aUaa & Waco See Del Lack & Western 7s... 1907 Morri8& Essex Ist7s...l914 1915 let consoi guar 78 1915 Kegisteretl 2000 Ist refgug 3^28 T H But Penn Co See Pitts <fe Registered kl936 Q-F 58. 23 . Life Registered Cin S <fe CI con Ist g & Ist cons 6s. 1921 I'.i42 Ist general gold 5s Mt Vernon 1st gold 6s. .192:; SuU Co Branch 1st g 5s.l93U Ev<ft Ind Isicon gu g6s..l926 <fc St 1' So See Ch L''argo " Untcfe Pere See Pere .M ar Penin See Sea Air Line Fla C Co 1st g 4 4s. 1941 Fort St U Ft Wife Den C Ist g 6e.... 1921 Ft Wcfe RioGr Ist g 48... 1928 / '04 102 Sale lOlVj 102 luo^aioi^a 100 J'ly'()4 98'8J'ly'04 99 ... 102'4... 101 Vj Sep '04 100 Oct '04 93*8. 102 Dec '02 94'2.A.ng'03 93 107 "a. 105 Jan '04 101 la Sep '04 J-D M-N M-N Bpr*ColDiv l8tg48..1940 M-S let gold 4s Krle Range Rang* 3.W H'eeA;'* hruiay N <fe Cin C & St L gen g 48 1993 1939 Cairo Ulv l8t gold 4s MDiv Ist g4s. 1991 Cin St L Dlv l«t col tr g4s..l990 1990 Registered •Clev I 12934 12934 <fc <fc CiearlieW 130I4I31 Feb'04 Ill's 100 5s. 135V 25 130i8l35i4 Dec '03 129'4 Mar'()4 78 Sale 9934 I L, 93 131 q-M *H2'2 t I I35I4 94 133 1«. 121'4 2(1 <fc I3518. . W 78...190o AO Ctn BAD consoi 1937 J-J gold 4128 ..1941 M-K 1st pn g Gin D J-J 43.19o3 Cin & W Ist gu g C &<« C C C St L CI St e lYice October 21 Evans <fe Cons Cs reiluced to 3'-^8.Hi3ii ChStPcfe Minu l8tg6s 191« Nor Wisconsin 1st 6s...liK^(^ StP<fe SCity Istg 68...191'J Chicago T«r Trans p;is...VJii Chic& West Init sen g 68 91932 Mich See Pere Marq Clilc & Choc O & Gulf -See C K I <fe P BONUS STOCK E.XCHANGF. Wkek Ending octobee 21 N. Y. Since January 1689 2 sale ' ) Bond Record—CoDtinued— Page 8 1690 ItONDS STOCK KXOHANOK WKRK KXIjINI. OCTOnHB 21 ^-i; October — Jianye or Lail Salt !il AMk Hid LuuiMT (is NhmIiv (CotUinuetlJ LCIn.fc L«'XKolcU'-j«...UI.Sl M-N 107»4 130 19:50 J.J lHtKolil6H N(><fc.M 19H0 J J 122 .M '-M irolil tlH Pcuaaculn Dlv k<>1<1Uh...1()2U M-S 113W, i. 1)1 polil 3» H.-11.1.I »<lffPlstBf irfiH.lSKll KPiiliirkv Cent L<fe LA (folil MS 4m..19H7 J J N & M A- M 1 «t e 4 VjH 1940 M-S XSouth yi joint Is.l'.iji J J IOC) 1 1 107 1'.>:>'2 JJ K A K A 115 Ala c<in trii « os.-lCHii K A litlU A-O Sink fund p<il<l(i.s LAJett HilgeCoKU ^'4s..ll)40 M-S 11."> Ki"frlH«erc-(l AS Kin & PeiiN SAN Atl iNt L N A A Oil Malion Coal See C I See I. A SAMS AO AO W Moh A ^i Oct '04 95 97 14 10114 108 Si 107 Si 89 90S J'ly '04 Jan '04 .r'lv'04 115 116 112 101'. 117 Si 115 117 110 98 116 98-\ Mar'03 Oct '04 105 Hj Iowa Ex lstpold78 1909 J-D Ex 1st gold Us. ..1921 A-O South West Ex 1st g 7s. 1910 J-D Pacific 1934 Ist consol gold 5s 1st and refund gold 4s.. 1949 Minn A St L gu See B C R N A M-N M-S MStPASSMoong4intgii'38 J-J MAPlst588tpd4sintgu 1936 J-J 103 Hi 74 22 72 Rale Sale 14»4 Sale 1834 14 94 Hi 92 Si 92 115 117 Det KaA AO 106 140 1 1 2 . 121 117a. 117 . 95 9414 107 14! 10 32 61 91 98I4IOOI2 01990 F-A 1944 M-N LDivlst ret cr 4s. ...2001 A-O Ist gu g 5s.. .1940 .M-N Pac 1st g 4s.. .1990 P-A li Isl gug 58.. .1942 A-O & Wa MoK A MKATofTlstgug5s.l942 MS Sher Sh A So 1st gu g 58.1943 J-D 1906 1920 1st consol gold 6s Trust gold 5s stamped. ol917 ol917 Keglstered 1920 let coU gold 5s Gent Br Ry 1st gu g 4s. 1919 Leroy&C VALl.stg58 1926 PacKotMo Ist ex g 4s. 1938 2d extended gold 5s. ..1938 et L Ir MA Sgeu con g 581931 Gen con stamp gt<l g 58 1931 Missouri Pacltlc 3d 7s A ref gold 43. .1929 AG Eiv DiYlst g48..1933 1933 Registered Verdi V I A 1st g 58.1926 Mob A Blrm prior lien g 58 1945 1945 Mortgage gold 4s MobJ C Is; cons g 58.1953 Mob & Ohio new gold 68. .1927 l8t extension gold 68..A1927 1938 General gold 4s Montgom Div 1 st g 5s. .1947 St L. A Cairo coU g 48..el930 1931 Guaranteeil g 4s coll 4 s See Southern W AK MAO Mohawk A Mai 122^4 106^4 Sale F-A 108 FA J-J F-A J-J A-O A-O J-J M-N MN M-S J-J J-J J-J 954 100 112 95 98 Q-J 119 . 98 , W TAP 96S2 102 Si 75Si 87 98 Si 10514 80 102 86 88 102 New HAD SeeNYNHAH NJJuucRR Se«NY'Cent New A Cin Bdge See PennCo N O A N E prior lien g 68 pl915 A-O See L 1 N y Bkln A Man Bch3i2S.1997 J-J NY Cent A H Riv g 1997 J-J Regi.stered Debenture 5s ..1884-1904 Registered 1884-1904 Kegistdeb 58 of. ..1889-1904 Debenture g 48 1890-1905 1890-1905 Registered Debt cert« ext g 48 1905 Registered 1905 Lake Shore coll g 3 "as.. .1998 Registered 1998 Mich Cent coll g3»38.... 1998 Registered 1998 of. Beech Creek 1st gu g 48. 1936 Registered 1936 2d gu gold 58 1936 Beech Cr Ext Ist g 3 48 61951 122 128»8 12818 121 Apr "04 12334 12818 121 Sa Sep '04 113 >4 11334 113 Dec '99 113SiJ'ne'04 113 J'ly '04 11434 115 llyHa 116 lU^e 121 130 90 94 S) llSSillSis 88S! 92 Si FA FA FA FA J-J J-J J-J A-O l24Si 110Sill5'4 IOOI4IOOW2 IOOI4 lOOSi 9934 100 "v 100 Sep '04 J'ne'04 100'f,Apr'04 lOOi-iMar-OJ 101 Aug'04 101^.1 1001-2 100 Si , 101 987g 9931 89 91 Sale lOBBg. lOH^s. 10814. 91 Si. 113Sill3Si 113 113 Wha L E A PCC *No Isl Mar'04 83 66 0CATl8tgug58 Sj , 81% Sale 101 80 80 106% '04 StPatUADul A-O A-O A-O J-D M-N Ist 58.. ..1931 1917 J Q-J 99 Sj 101 86 Oswego A Rome See O C F A St P See C A Pac Coast Co 1st g 5s Panama N W1946 See Mo Pac Ist s fund g4Si8.. 1917 Sink fund subsidy g 6a.. 1910 Co—Guar Ist g4Sis. 1921 ^Registered 1921 Guar 3SiS coll trust reg.1937 Guar3SiSColltr ser B...1941 Tr Co certif'8 g-u g 3SiS.19i6 C St L A P Ist con g 58.1932 Registered 1932 CIA Pgengug4Sjsser A.'42 Series B 1942 Series C 3SiS 1948 Series D3SiS 1950 1021-iOft '03 IO6I4 Feb'O^ 86 8J«4 ioi" i06'4 102 102 Oct '00 96 Sep '04 Sep '04 Dei"03 A-O 94 108 J-J 112% 110 J-D FA 100 1(12 10434 M-S 76 104i4Oct 73 75 46 32 Jan '00 Sole 112 no '04 Hale price Friday; latest bid and asked this week, a Due Jan 101% Apr'04 103 107 132 130 130 .4.-0 Sep 101 104 llOSi 116% 115%119% 104 104% 10234 106 101 101 103 104 Dec '03 110% 101% 101% '03 100 130 127 18 100% 104 110% 10 110 112% Aug'03 Nov'03 13234 ATig'04 125i4l32»i .57 96%1023« 10034 Sale 100% 101 98 100>4 9934 J'ne'04 9934 9934 95 Sale 94% 95 i56 87% 95 108=4 112 ATig'04 112 112 10234 103 10234 103 99% 103 105 '"4 .Sale 104 Si Sale 7514 Sale 104% 10334 7434 105% 104% 111 75 S, Oct '04 125 132 122% 125 J'ly '99 112% J'ly '03 106%Apr'04 106 101%105% 104% 7014 75% 6334 75% 97% 97'fe "|101 741 75% 75% 97%Ang'04 72 9734 F-A 12334 Q-F 118 F-A 11234 105% 96S) 108%' 96% 86 111 115 116V4ll7% 117% II7I4 109 113% Sep '04 110 III 117% 113% 110% 9« J-D 110%. 110i4Sep'04 105 A M 10334 102% J'ne'04 102% 102% 103 102 110 Apr'02 J J 106 Nov'9s 92 14 96 9914100 118 120 102 92 14 99 14 120 lUSi 113% 108% Aug'U3 M M A 109% 110 92I4 Series Series Series C guar D E W 1942 J A m 9634 9534 F M 4s guar 1945 M 1949 F 3Si guar g C 1st 78. ..1912 J Ft A 2d7s 1912 J 3d 78 /a912 A Penn RR Ist real est g4s.l923 M Consol sterling g 6s 1905 J Con currency 6s reg...!7l905|Q Pitts 96 1* 9*34 Apr'04 9134 96 110 101% 110 loo'i-i 66% 6 Due 105% 75 t'eb 95% 99% lid 120 96 96 9834 11034 HI 34 10-.i Aug'04 1113^ 1113^ 1 Sale Ang'04 Oct '04 Si Sep '04 127% Oct '02 121 Mar'04 119 Apr '04 107 % Mar'04 110 104 93 11034 104 93% 120% 120% 118% 105% --J 108 98% 110% 10934 111»4 110 110 101% 104% 90 121 119 93% 121 119 104% 107% on Next l*a«e 2397 Q-J Registered Erie T A Tcoltr gs f 58.. 1926 J-J 1918 M-N MetT A T Ists f g58 N Y A N J Tel gen g 68..19'20 M-N NoWestnTeleg See West Un West Union col tr cur 6s. 1938 J-J Fd and real est g 4S>8...1950 M-N 94 Dae May ^DaeJ'ne A Dae J'ly J'ne'04 90 04 100% Apr '02 100% Oct. '00 109 111 . 10534 . 110% 105% 106 1(U5 100 86% 88 91 82 }? Sale X>ae 10934 10934 105 14 J'ly '03 II0I4...... 107 1023, 104% 103 99 Oct '99 10934 J'no'04 110 >lanutnclurtn2 Sz Industrial 1916 Q-F Am Cot Oil ext 4SiS Am Hide A L 1st s f g68..1919 M-S \m Suirita Mfg Istg 68.. 1915 MS, Am Thread 1st col tr 48. ..1919 J.J Bar A S Car Co 1st g 6a. ..1942 J-J e 110% 10534108% 107% Tclefri-aph nncl Telephouc Telep A Tel ooU tr 48 1929 JT-J Comm Cable Co 1st g 48. .2397 Q-J Mul Un Tel 8 fund 68. ..1911 M-N NorthwTelguf 4%sg..l934 J-J 102 108 Dec '03 Oct '04 Sep 04 Jan '04 Nov'OO 96 102 96% Am 107% 95% 101 106 Oct '04 10534 J'ne04 A- NACBdgegengug4Si8l945 J PCCAStLgu4SjsA...1940 A Series B guar 1942 A bonds—Continued Mav'97 105 94 13134 Apr'03 102%. 101%. Erie A PittfigugSiss B.1940 J Series C 1940 J Is 9SS» 91S! 9II4 69 80 82 14 548 69% 82 14 10 106% 10634 102 Si 102% 107 113 ... Mar'04 124 Si. 109 Si. Q-F Q-F J-D J-D A W See C C C A St L OInd hio River BR Istg 58.1936 101 Dot '04 J-D '02 IO4I4 Apr'04 IO414 105 Oct '04 101 1922 J-J 2d 58 100 100 101 J-D J-J J-J J-J Jau 98% 9B%.Vug'04 Ist consol gold 48 1968 J-D 91% 94 Aiig'04 Wash Cent 1st g48 1948 Q-M NorPacTerCo 1st g 6s. .1933 J-J 118 Bale 118 118 Nor Ry Cal See So Pac Nor Wis See C St P M A O Nor & Mont See N Y Cent 10238 10034 100'b 100 Si 100 Si 10634 l02i.iJ'ly'O4 AO '04 liy%Aug'04'--11334 , . F-A WW Q- 9634 10134 Nov'OO 107% Oct , F-A g58.1919 J-J A W 103 Si 79 Si 98 100 Muy04 10518 J'ly '04 102 116% Sep 90% 97% 105 Sj. 1905 J-J extg68..1934 1932 New River Ist g 6s N A Ry Ist con g 4s. 1996 Registered 1996 Pocah C A C Joint 4s. .1941 Dec '02 99SiNov'02 90 Si 91 893^ Oct '04 8834 89 91 Jan '03 90 4 Sale 89'4 99 '03 ac of Missouri W1SC"EL1.j1NEOU!^ FA 115 107 N Y A North See N Y C A H N YO A Wref I8tg48..jrl992 M-S Regis $5,000 only {^1992 M-S N Y A Pnt See N Y C A H N Y A B B See Long Island N Y S A W See Erie N Y Tex A M See So Pac Co Nor A South Ist g58 1941 M-N Norl A West gen g 68 1931 M-N 11238... OonI and Iron Col C A I Dev Co gu g 58.1909 J-J •105 Col Fuel Co gen gold 6s.. .1919 M-N •106 Coi M A 1 Co sen a 1 g 6s.. 1943 FA 101 Convertible deb g 08 1911 Trust Co elf8 Confin'talC Istsf gu68g.l952 Gr Kiv Coal A C Istg 6s.. 1919 Jell A Clear C A 1 1st g 5s. 1926 2d gold 5s 1920 KauAHCA; C Ist 8 f g58.1951 Pleas Val Coal Ist gsfes. 1928 Tenn Coal gen fis 1951 'Jenn Div 1st g 6s al917 Biwu Div Istconsol 68. .1917 C»ah C M Co Ist gu.e 6s. 1922 l>e HarC A 1 Co gu g 68.1910 Vlron Coal AC o Istg 5a. 1949 113«4 Sep NYC 120 IO214 Aug'04 100 7834 79 Si 133 73 79>4 8alt> 100 10034 con g 58. .1937 M-N Penn 103% MS M-N B AN lllSilllis 91 91 99% 96i4May'04 122 121 105% 106% See Erie Scio VANElstgug48 1989 North Illinois See Chi A N North Ohio See L Erie A Nor Pac— Prior Uen g 48. .1997 101 loaig Registered 1997 IO9S2IIG General lien gold 3s a2047 11138118 Registered a2047 StPaul-DulDiTg4s....l996 93 1< 84 Registered 1996 91 CBAQcolltr4s SeeGtNor 96 StP P gen g 6s.. ..1923 Registered certific's.. 1923 lllSiMar'04 91 Feb'04 -I 106%NoT'00 SeeCentofNJ NYANE SeeNYNHAH New York New Hav A Hart— Improvem't 109%112% 121 J'Iy'04 IO6I4 J'ne'04 95 97 68 1951 J-D General gold 5s 1937 A-O Ore A Cal See 80 Pac Co Ore RB A Nav See Un Pao Ore Short Line See Un Pao M-S -MS J-D J-D M-N 1940 1940 10334 108''8 9118 96 M LAN ..1:121 lst6e LAW McM M 6 121 121 Hoosatonic 91 106 Si 112 \ 67 99 106«8 100 105 14 loesg 109 i-i 118-<8 122 Si 37 104 1091. 94 Si J'ly '04 11434 Sep '04 92SaJly'04 98S»Nov'03 F-A 114'u. ii2 Q-F J-J 102S2 80 87 248 105 "4 15 88 84 Si 105 88 102 Jan '04 91 Oct '04 10834 Oct '04 I0418 106 104 Si Oct '04 109 Oct '04 122 Si Oct '04 106 Si 1063. 121 NYLEAW NY&LongBr 109% Nov'03 Jan'U3 121 139 109%Apr'04 N H 4 Derby con g 58. .1918 M-N 1905 J-J N Y AN E Ist 78 NoT'Ol Sale 109% 1962 gSSiR Bat C A 8tnrl8tgTig38.1989 N Y A Harlem g 3Sj«...20<>0 Registered 2000 N Y A North Ist g 68. ..1927 118 98 97 Sj 99 101 Si 102 Hi 103 Si 102SiAug'04 lloHi 116 116 115 >2 Sale 115S2 II6S2 10934 Oct '03 93 >4 Sale 9334 92 Si 96 Sale 96 96 128^4 129 MS 113 95 108 108 05 Si Oct '04 100 May'Ol Sale J-D Seei^ Y C A H Monongahela Kiv See B A O A Mont Cent See St P Morgan's La A T See S P Co Morris A Essex See Del Chat A St L 1st 78.1913 Nash consol gold 5s 1928 1st Jasper Branch Ist g 68.. 1923 & Al Ist 68. .1917 Branch Ist 68.. ..1917 Nash Flor A Shef See Nat of Mex prior lien 4'2S.1926 J-J 1951 A-O 1st consol 48 M 109 M-N M-N M-S MS lOlSi 86 K. Sale 104»al05 87 90 102 14 91 7e 92 »2 109 105 104 "u '02 117 95 98S2Oct'04 103 Minn Un See St P M AM Mo Kan A Tex 1st g 4s. ..1990 J-D 102 »2 Sale 111 113 120Sil20Si 10634 1(191, 129 120 Oswe May'OO 109 105% 109 101 OS 101 100% Oct -04 98 IOCS 99% 100 162 98%101T« 114 Feb'02' 120 132 R WAOconl8text58.W922A A R 2d gu g58...el915 F RWAOTRlstgug 58.1918 M Utica ABIkBlvgng48.1922 J N Y Chio A St L l8t g 48.1937 A Registered 1937 A N Y A Greenw La^e See Ene N Y A Har See N Y O A Had X Y Lack AW See D L A W 96 109% Ist 1515 6 109 121 121 IO6I4 JLA 12 105%Nov'01 1931 1931 4* Registered S Istg 3S»a 74S» Oct '02 105 Ist coDSol 68.1909 Registered >« 60 Jan Mich Cent 107% J'ly '00 12214 Rl8tguc6».1938 Mahon C'l RR Ist 5s.. 1934 .McK A Yl8tgn68.1932 2d guar 68 1934 107 ij Si Uifh 108»4 100 104 i92S M Tol Ist 7b. 1906 68 142 Dec '03 113 Oct '04 120 Si Feb '04 . Vj 1150b. II3I4 1997: J J Pitts 74 Si 29 22 Si 710 15Si 539 93 Si Mon A jLoto 109 lOOSilOlH. 100% J Debenture g 48 117Si 90«8J'ly'0] M S S M A A Ist g 4 int gu 1926 J-J 2d gold 48 Ist ext gold 68 2361 3S*»... .1997 Ao Apr'02 100 Ist 48 gu... 2361 J RcgiHtered Lake Shore gold Jiigh I lOOS 10438 104 lOlla Mckee«ABVl8tg68l918 101 AtkiLou) Range X-- J gu g 4H..1991 M Mftl iHl Weat Shore 91 Si P9 105 Si 105 103^8 Dec'02 loss* IO8S2 Sale Bid 95 N J June R fu 1st 4S...1986 F N YA Pu lHtcougng4ii 1993 A Nor A Mont iBtgu g 5«.1916 A 122 WW W Unified >4 07 gu g4»...1981 J l8t OoiivAOgweldtgugSti 1942 119 Week-M Hange or La$l Sale October il Cluarf Hlt(;oal l»t«f 40.1940 J Nov'99 101 1 1074 FA Int«rnatlst con s 48. 1977 1977 Stamped guaranteed Mei North iBt gold G8....1910 J-D Midi Cent See N Y Cent Mid of J See Erie See Chic & N MU L S A MU & Ma<l See Chic & N MU A North .See Ch M & St P Minn A St L Ist eold 78. .1927 J-D Kan C A JiigK 128>*126S. RegisU-red MS MS Mex Dal Low Cart* Ad Aug'04 Apr'(l4 J'ue'02 94% 96 llOSi MetroiM>litan El See Man Ky Mex Cent consol pold 4s.. 1911 J-J Ist consol Income p H8.al939 J'ly 2d consol income p 38..al939 JMy 1917 A-0 Equip* colltrold5« 1919 A-O 2d seneH pold 58 CoU tr L' 4H2H Ist Ser....l90' St i/o 1 U anhattan Kyconsol 48.1990 1990 li<'tristere<l Metropol Kl Isl k tis 190s J-J Man S Colonli! p 5s. ...1934 J-D McK'pt A B V See N Y Cent N Sale '4 94 1st LMi 8 5.«...Uta7 jrn p l>»..19'21 N >4 High January STOCK EXCHANGB Wbbk E.HUINO OOTOBEB 21 1^ N Y' CenlA H ii^-( Continued N. T. 11 (•,.>, .Mar'02 122 75 113 IfVil •Jil lA>v> Sinoe aqte \TZ\ Auit'03 M-S •llUTg IKHO M-S V 1st gold 68 I 126'-^ NO* Bt BU.NUS WeelCt fyiday N. Y. [Vol. lxxix. 86 Nor 100 fe634 90 84 105 « 110% 106 105 110% 101% 106 107 100 107 100 S7 95 100 70 91 3« 85 74 87 91 88 J'ne'04 J'ly '04.. Jan Option '00 sale. 103% — — J 1 BONOS Price Weelc's 5~ stock exchanok Week enuing October 21 Fridav Range or October 21 Lant Sale I? n. y. Ask Bid KK (Continued) 1121s 1919 Consol gold 5s 1943 M-N 108^2 Consol pold 4s Sale 191ii M N 1()3 Convertiljle g 3^s Alleg Val eeu gu g 4s. iy4'2 M-S 102'l2 "4 108 01<fc Marlst gu g 4^128. .19;i5 M-N 99'-2 DBRR<feBgel8tgu4sg.'36 F-A 109 '8 GrR<fe lexlst gug4>2sl941 J-J Sim<& Lewis Ist g 48. ..1986 J-J Dil»8 110^4 11334 U N J EE & Cau gee 4s. 1944 M-S Peosacola & Atl -See L. & JS'asli Peo & East See C C <fc St L 130 Peo & Pek Un 1st g 68.. ..1921 98 61921 M-K 2dgold4»2S 5s 1921 J-D 108 's PereManj— CI1& 120^1 1920 A-O i'Iint&PMg6s 1939 M-N 1 2 Is let consol goldos Pt Huron r)iv 1st g 58.1939 A-O 112 14 Sale SagTu8& Hlstgug 48.1931 F-A PhUa & Eeading cons 7s. 1911 J.D Pine Creek reg guar 68... 1932 J-D 126>4. Pitta Cln & St L See Penn Co Pitts Cleve <fc Tol See B & O Penn Low . 106 U)2 , W & & Penn Co See ' Apr '02 120 llliiiSep04 118 1-. 122 10734 lllia 1121. 109i4ll2«8 119^4 Apr'04 137 Nov'9'" 1191,11912 SPa«ofNMexl8tg6s..l911 J-J 1905 FA Tex <fe N O 1st 7s 1912 M-S Sabine Div IstgOs 1943 J-J Con gold 58 114>s 101 »2 Sale 114i9May'04 114i«lUi8 101 14 101 99 1-2 Sep '04 95 19 96 94S8IOII2 98 100 AlaCenR 120 . W M W 95 96 >a 91% llliilie 68 70 J-J *31 9712 lll'aJ'ly'04 68 J'ne'04 87 la Sep 'U4 llOVjlllii &A\ 68 10334 May'04 W 1915 Rich <fc Dan con g 68 1927 Deb5s8tamped Rich <fc Meek 1st g 4s. ..1948 1919 SoCarcfe Ga latgSs Virginia Mid serC 63.. .1916 1921 Series D 4-5s 1926 Series E 53 General 5s 1936 1936 Guar stamped Ist cy gu 4s.. 1924 O <fc WestN C Ist con g 68. .1914 871a i57ia 10334 104 101i4Nov'01 91% 92 13 92 92 84 W W M-N M-N J-J J-J J-J 103i«105 103s&J'ne'04 1031a 1035, 12234 127 97% A-O , b 638 Sale J-J 94 ' 122% 85 98 '8 Sep '04 1 1121a 1121a 981a Oct '04 Sale 110 96 100 100 Jan '04 613 791a 86 86-'''i 94 Oct '('4 94 122iaAug'04 119 la 84I4 86 222 78 A-O J-J J-J A-O M-N M-N M-S M-S M-S M-N M-N F-A J-J Falls <fc Nor 1st g 6s. 1939 J-J Stat Isl Ey 1st gu g 4ias..l943 J -D IO314 J'ne'04 IO6S2 126 112W2 6ale 99 126 J-J J-J J-J J-J J.J Spok 106 >a 113 98 '2 lOii 87 94 SyraBmgifeN Y SeeDh&W 'rerAolSt List g4ias.. 1939 list con gold 53.... 1894-1944 1953 Gen refund 8 t g 4s St L M Bge Ter gu g 58.1930 Tex & N O See So Pac Co Tex&PaoEDivlslg6s..l905 80 '2 =r 99 "4 99 12 99 99\ 83 84 Oct '04 79-'4 80 7934 /80 J-J J-D J-D A-O 109 'alio 1091a Oct '04 J-J J-J J-J J-J 1341a 134% Sep .M-N 113 10312104 140 111'4 J-D J-D A-O 102 la A-U 11234 . 43 '204 122 14. '04 Mav'()2 1I234 10334 J-J 12512 J-J 'I3412I35 J-J J-J 118 128 135 115 Apr'02 II634 J-D 117 Sep Jan 110 Jan '04 11334 Dec '01 118 Apr '04 118 ... 99 la 100 A-O U^ '04 '04 1 ... 53. ..1935 1935 Kan & M Ist gu g 4s. ...1990 T0IP& Wist gold 4s. ...1917 May'Ol 1301a 121 1 7 I2 & North See Un i'acilic Black R See N Y Cent Val Ind W See Mo i' Ver irginiaMid 6ee South Ry Va & Southw't Ist gu 5S.2003 J-J 1939 .Vl-X Wabash Isl gold os 2d gold 5s 1939 FA Debenture series A 1939 J-J 103 "a 10U% Sep '04 110 110 112141171a 98 100 la 110 11218 101 114 111 107 108 la 94 91 la 8li« 95^8 11218 931a 105 '4 35 1091a Aug'04 II418 A-O May'04 Sep '04 lOOia lOOia 11218 J'ly'04 10534 10534 Oct "04 A-O 110 J -1) J'ly'OO 100 115 SO 108 llOialie 1935 J-J Ist g 5s General gold 58 J-J no "a . FA Apr'97 117 109%... ] 106 May'Ol 104iaAug'04 . Tol&OC Western Div Ist g 84 80 130 121 104 la Sep '02 F-A J-J J-J TolStLcfe Wprlieng3'as.l925 J-J 10718 112 1950 A-O 50-year gold 48 130 134% Tor Ham & Buttlst g 4M./a946 J -D 107 la 11234 I lsler<fc Del 1st con a bs 1928 J-D y.) 1st refund g 48..".. ...1952 .4.-0 iu'g'i^iVii^ Un Pac RRifc 1 gr g 4s. ..1947 J-J Hegiatered 1947 J-J 100 104 Ist lien convert 4s 1911 M-N 104i2l04'2 Hegisterett 1911 M-X Ore Ry <te Nav con g 48.1946 J -D Ore Short Line Istg 68. .1922 F-A Istoonsol g5s 1946 J-J 133 135^ 4s & participating 1927 Utah & Nor l.st 78 1908 J-J 114iall6''4 Gohl 6s 1926 J -J 117 117 Uni N J RR cte C Co See Pa Kli Utah Central *«« Kio Gr Wes 116i«Apr'01 Sen '04 11134 10334 9912 911a 701a 651a 96 90itj r27ial''eb'02 Apr '04 121 11214 113 110 112 130 A-O 1931 J- 5s Low Hiqh Hinh Sep '1:4 Sep '04 100 Sep '04 104% 107 113 Jau'Ol loo 100 Jan '01 100 1(H) 89 14 8978iSalo 90% 394 76 90% 1081. ,1091, 109% Sep '04 105 109-'» 109', 110»GOot 'Oi 10534 11034 100 la 10038 Oct '04 10038 102 101 14 102 Oct '03 IO2I4 10434 Sep '04 102 10434 112 I4 11212 1121a 112 I2 115 14 II2I4 114iaApr'04 1141a lUia 11618 119 Feb '04 119 119 10934110% IIOI4 llOk, 107 IIOI4 108 14 108 Sep '04 108 IOS34 101 34 103 Oct '04 101 103 109 109 Sep '04 109 109 105 14 103 Jan '04 103 103 11334 Sale llSifc 1183^ 44 111 11834 116 110 Feb '04 108 110 9534 Oct 04 951a 9234 971a 1161a 1171- 11 5 "a Oct '04 114 II512 98 98 98 9 3 la 98 11734" 117i2Apr'04 115 1171a 95 Iq 96 13 961a Oct '04 9II4 96 I3 90 Sep '04 891a 91 90 90 88 11614 118 May'Ol 118 118 115 1161a 116 116 113 116 1211a Sale 1211a 12134 117 1213^ II2I4 lllkOct '04 109 112 12214 122 ig Aug'04 11834 123 124 125 Sep '04 120 125 118 Sale II714 118 114 118 IIOI4 112 la Sep '04 112 1121a *88 87iaJ'ly'04 87 8 7 la 10934 110 Oct '04 103'allO II4I4 123 Feb '02 107 14 110 J'ne'04 110 110 HII4 115 Jan '03 II4I2 117 Oct '04 110 117 110 la May'04 llOia 1121a 9034 93 Dec '03 11534 Sep '01 1151a. 112 la 117 WMinW<fcNWlstgu5s'30 F-A M-N 96 M.S 10078 100 2000 J-D 120 la!Sale 120 92OOO Mar 931a 93 Ist gold 58 2d goUl inoos La Div B L 1st 1221a Januarti 1 , Div g58..1930 J-J 1956 M-N Con Ist gold 58 1938 M-S E Ten reorlien g 5s 1922 J-J Ga Pac Ry 1st g 68 Knox & Ohio 1st g 68... 1925 J-J S&NAla «««L&N 96 92 90 96 92 12034 931.. 92 90 90 8O34 Sli, 112 11 11-2 4. 9334 11014 1061a II2I4II6 111 111 103 la 10734 91 96 92 86 81 90 "a S2ia 68 95 14 94 100 14 113 Sep '04 May'04 Sep '04 AnR'04 Sale 102 122 95i4Sep'04 Oct 'o-i 1 93 4 Sale 93 "a 9134 94'8 I05I4 137 100-'4 loo Sale 10434 '04 1003«104 10412 lOliHiOct Oil"! jo's lli'is Sine lOHia 10.) la Sep '01 9634 1051a 9S la IO3I4 Sale 103 Is 103 103 Is 125 !-iHle 117l4llV's 99 I4 Sale liOSi 1041a IL434 II714 120 14 1251-2 HI 1171a 1-J5 II7I2 9934 90'4 991. '.'8 '2 112 Dec '03 II4I2 Apr'Ol Uliih .U-S 110 Utica 110 <fc <fc J-J 104 AO 81 Sale 80^4 8114 10334 103'i2l03'e 103 14 9618... 92'4 Aug'04 M-M J-J J-J 105 100 106 J-J J-J ... ... ... J-J 'loo's ... J-J 110%. .. J-J llOia... 102 13 J- 0434 J 'ly '04 1091a 109 MN M-N 1033, Sep llli4May'03 109 Jan '03 9778 102 't. 871-2 95 8534 94^2 Oct '0-1 102 97 113'V 97 14 1021b 88 Vj 88^8 SS-'a 8H-'., 109 ^i Sale 109 la 109'v 103 Sep '04 1031a 112'„ 112^8 \VA\ 107 IIOI4 UOI4 106 IO7I4 107 '1 106 103iaJ'ly'O4 S834 84 10/ 109 la 100 la 103 105%113'-j 1131^8 101 99 14 Mai'03 'f. 105 IK1I4 106 14 107 '4 103'al03W. 106 119 109 "a HI no 11834 Sep '04 119 99 95 llOia J'ly'04 <i7 Sale 95 96 B 1939 J-J Ist lien equip s rdg63..1921 M-S Det&Ch Ext Istg 58.. 1941 J J Des Moin Div Ist g 43. .1939 J-.l Series 93 10434 1043j 10934 102 1051a 10» H) '04 102 109 4 102 Sale 83 la Sep 00 100 1 65 96 91 J-D 102 Sale 102 102 1« J-D 9434 Sale 94', 941a J-D 94 "a Aug'04 1931 M-X l8lgug58.1924 M-N <fc T l8t g 58.1933 lal guar 5s red 1933 H0U8 E 41q-58... 1996 1951 1918 1948 Atl& Danvl8tg4s 1948 2d 48 Atlife Yad Ist g guar 4s. 1949 1916 Col & Greenv let 68 A-O Mex<St PaclNtgos V'G&N Div 1st g St Louis div Ist g 48 1st g 66 J-J A Gila Mem ET Va<fc Ga 103 liegistered fcl949 VV Istgu g 5s.. ..1941 JA<fc Cent i'nc 1st rel gu g 4s 1949 F-A Regi8tore<l 194'J K-A Mori guar gold 3'-j8../<;1929 J -D Gal Har<S; S 1st g 68. .1910 F-A 2d gold 78 1905 J-D N 1994 J-J 1994 J-J Southern— Ist con g 5s ''^ VIOO ' J-J J-J J-D A-O A-O A-O A-O A-O M-N M-N Mob&OhiocoUtrg48..193.s M-S M M-N KCFtS&MEyref g48l93C A-O KC& M R&B 1st gu 5s. 1929 A-O Bt Loois So See Illinois Cent Ist g 4s bd otls.1989 8t L S 2d g 48 inc bond ctls...j)1989 Consol gold 48 1932 Gray'8PtTerl8lgiig5s 1947 St Paul & Dul See Nor PaciUc <& Man 2d 68.. .1909 St Paul let consol gold 6s 1933 Begistered 1933 Bednced to gold 4 Hss.. 1933 Registered 1933 Dakota ext gold 68 1910 193^ Houl ext Ist gold 48 Registered 193 E Minn 1st div I8tg5s..l90h Nor Div Ist gold 48 194b Minn Union Ist g Os 1922 Mont C IstgugOs 1937 Registered 1937 Ist guar gold 5s 1937 Will <fc S F Ist gold 58.. 193b St P «& Nor PiiC See Nor Pac St P & S'x City See C st P M &o Salt Lake C Ist g s I 68. ..1913 SFePrescfe PU I8tg5s...l942 S A <& A P See So I'ac Co S F <& N P Ist sink I g 58.1019 SaT F & West See Atl Coast L ttoioto Val & N E See Nor<k SaetxMtrd Air Line g 48 ...1950 Coll tr refund g 5s 1911 Car Cent Ist con g 48... 1949 FlaCenct; Pen ist g 58.1918 Ist laud gr ext g 08... 1930 Consol gold 5s 1943 Ga<fc AlaEylst con 5801945 Ga Car cfc No Islgugos 1929 Scab di, Roa let as 1926 Hher Shr & So See M K ck T 811 Su Oca <fc G See Atl Coast L Sod Bay & So l8t g 08 1924 So Car <$> Ga 6'ce Southern bo PacCo— CoU tr g4'u8..]905 Gold 48 (Cent Pac coll). /cl 949 E& J-J J-J j-j 114121151^ . ' J'ly'04 & St X, & S Fran 2d g 6s CI B 1906 1906 2d gold 6s Class C 1931 General gold 68 General gold 5s 1931 St Li <fe S F RR cons g 48. .'96 Southw Div Ist g 58. .1947 '. Refunding g48 1951 5-year gold notes 4 "u.. 1908 !• JK C Ft S <& cou g Os. 1928 10534 111^4 114'aSep'04 98 J'iy'97 Iron Mount See M P K C <& N See Wabash StLMBr SeeTER Aof StL I. 1. 12U34 & II2I4 98 1920 J-J SA<fe APasslstgug4s.l943 So Pol Argulslg68...cl9()9 cl910 1st guar g 6s 1903 8 P of Cal Ist g 68 1905 1st g 6s series B lstg6s86riesC<fc D...1906 F...1912 l.stg6s8Brie8 1912 1st gold 6s 1937 Ist con guar g 5s 1905-.. 1937 Stamped I2OI2I23I2 98 101 B R&P . St St iioi^iii" May'04 i-i 113 94 giilst g4s.] 912 A-O NoofCal 1st gu g 68. ...19117 J J 19;;s .\-0 Guaranteed goldos Cal Ist guar g 5s. 1927 J-J Ore N YT&Mex IO8I2IIO Registered & Pitts Oct '04 Sine r,r .Sale U2i4Ocf04 . . 110iaSep'04 121 101 109 120 Asli J.ovt 1121a. II0I4 W Haniie Week's Kanue l.ahl div 1st h 6.s '3o M-N 117^^. Waco<& N Morgan's La <fc T 1st 7s.l91.s AO I2714 11534. 113 & Borne Wat &Og SeeNYCent Batland 1st con g 4 i^s 1941 Bat-Canad 1st gu g 48.. 1949 Dag Tus <fe H See Pere Mara lot Jo <fe Gr lal 1st g 4s. ..1947 St Law & Adiron 1st g 58.1996 1996 2d gold 68 St L <& Cairo See Mob <fc Ohio 103 Oct '01 112 la Dec '02 Ill Eieh & Dan See South Ky Rich <fe Meek See Southern Bio Gr West See Den & Eio Gr Bio Gr Juno 1st gu g 53. ..1939 J-D 1940 J-J Blogr So l8tgold43 1940 J-J Guaranteed & 94 la . 122>4. Jersey Cent coll g 48... 1951 A Eenaselaer <fc Sar See D <fc H Booh 3 1st gold 6s 1 Hilt AO Consol p 68 int guar. ..1912 Gen gohl4s ml guar. .1921 A-O Nov'97 110 WM Pitts Ft 1922 J-J Pitts Juno Pitte Li Erie 2d g 5s...al928 A-O Y SeeHY Ceu Pitte McKees Pitts Sb <fe L E l8t g OS. ..1940 A-O 1943 J-J Ist eonsol gold 58 West See B <& O Pitta Ash Ist con 58.1927 M-N Pitta Y 1997 J-J Keaduig Co gen g 4s 1997 J-J Registered. High Ho Low HUih Southern PacCo (Contniveaj 1111211112 H &TClstg5sintgu..l9;i, J-j li 102 Price yriiiav October 21 STOCK EXCHA.VGK Week Ending October 21 N. Y. 1 112^4 Mar'OO , See <& 1st gold 6s 1691 BO^u^ Kanrie Since Janvary llli2Scp'04 A«g'03 MS Ch . Bond EeCOrQ— Concluded—Page 4 Oct. 22, 1904.J . J 1 Oni Div 1st g 3ias 1941 A-O Tol<ftChi)iv 1st g4.-<... 1941 Alb St Chas Brnlge Isl g 68.190M X-O Warren See Del Lac it West Wash Ci'Ut ifCe ^ior I'.ic Wash O <k W ,>i:e Soiitliern West Maryland Ist g4s...l9.V2 A-O West ^ i <l5 i:'a isl g OS.. S'.i J-J Gen gold 3-4s 1913 A-U Income 5s (tl943 Nov West No Car .V^Soutii llv W Va<Jeul<fe P lslg6s..l9U J -J Wheergcfc L K 1st g5s...l92il AC Wheel Div Isl koUI 03.. 1928 J Exleii it Imp pold 5s...r.i.io FA ( 1 106 UII4. 66% 20.year equip s Ist consol 48 I00I4 87'2 ilT34 9-14 1 1 h4»4 11734 91 92 88 20. Oct '04 '04 8S 84 115 11734- 93 96% .\lur'01 111 Sale 91 91 Sale 92 92 112 1091.1 1 14 11014 11014 11 09 1 1)034 90 79 'e &338 112 112 '2 (kSI^ 9ii Sep "04 Apr'04 11 '4 M.n'04 1U9 Apr'04 100 la Aug'04 ij 1949 M-b i l-eij'O 96% Sep 90 1111-2 . '0 95 98 .Mai'O 09 4 .Mar'O 40 19.'2 J-J 58 Oct 1 , Erie -See st f <fe M ireii In! 4s.l9 19 J-J f iSe(? 11014 94 56 102 102 IO6I4 no's 83-% Aug'i;4 ; Wilkes it KiiHt Wil <te Sioux F Wis rent 50-yr Jan 04 9il 10nl4 lltlla l.>2» 102 '82% n n 68 100 la 106 23 11412 119 109 103 92 li'9 2t! 100 86 12 88 M !« >, la 92 '« iUISCKIJ.AMiOUS IIO.NUS—Coiicliided. Mannlncliii-biK «.V: Induntrial Con8olTobacco50->-r g 4s. 1951 Registered 1 96 Distil Sec Cor cm v lslg5».'27 Distill of Aiiier coll tr g 58. 191 lU Steel Co deb 5s 1910 Nou-conv debeu 5« 1913 Ini Paper Co Ist con g lis. 1918 Int St I'uiiip lO-yr ooiiv. 6s "13 Knicker Ici; fChicj l.st g5s.'2s Lackaw Steel Ist g 5s 1923 N at Starch Mfg CO istg 68 1920 Kat SlArch Co s I dob 5s.. 1925 Stan Kopeifc T Ist g 68. ..1946 Income gold 5s 1946 M a Leath Co s fdeb g68..1913 tJS Realty A I couvdobg5s'24 V Registered 76 >e Sale 74 A-O 73 Sale 96 la 7.J>4Ocf04 72 74 '« 99 Sep '03 99 Jan '99 FA J-J J-J »3ia A-O 92 '2 FA J J A-O A O M-N J-J KA N J.J 97 3'a '0 83 63 401a Oct '01 4 4 .MX 84-% Sale aDueJan 1 2 00 87 la Oct '04 90 "a 88 14 »ij 84% b Dae Kob 771-, 73 14 74 la 92 1 09 "a 103 '2 97 la ICx col tr AuDkcklmp58 g4s 1948 M-S •S'feCeutNJ W A III SS Co of Va g 6s 1920 MN M'kl'n FerryCo Islcons g 5h '48 K-A CliicJcdc St Yard col g 58. 1915 JJ Del Al it .M ilolKikell Life .VI nd S(i A O Idgr incomes.. 191 1 Gaideii l.'^lg (•r..lU19 •!3 35 47 2 1 .17 .\ 414 1 1 2 la 88«4 <i«34 100 JOSSi 60 65 100 73 111 80 'a 8U 60 Mnt'Ol Sep '04 60 "o'e-ii 764 "83 »l): 50 Feb' 111 Oct '04 SJia »l\ i-2>i. 1 St ?<0 Duo Mar 103 10034 J'nc'02 M-r; J J 2 inoi 102 14 M N (2 IVj 10734 10234 Sale gold 5s.. .191(1 M-N Y Dock 60.yr l«t g4->..19.".l K A 901a st Joxi-ph Stk Yds 1 st 4 930 J.J 66 10 c Adams Man Beh H <% Lgen g 4h.. 1940 102% Newp No Shii) <k U D5n(/1990 87 1 (53 April 196;i and asked. '04 101% Sep 90 MX latest bid 103v Oft 53»4 5734 611a 92 15 105's 24 97 971a 23 :»2% 10914 la 101% 01% 90 64 .... '(0« Feb '04 10h:ivl09i2 .09 103% Sale .03 jH.(i'6;> VI 70% 4314' 92 113 90 Sale 87 la Sale S Steel Corp col Ir 2i; Moprlce Vriday; i>iiiicellii.neouii p. A L Ter Clippies Stat'ii* Prciji ("« 1st g 4 las 5-20 year.. 191 J I) .s Vuba Wat Co »;on g i1h..1923 J J S)) Val Wat Works Im 6h 19iii1 II S llcdit lief l«l Htg 6a. 1931 .' MB Usia. 112 Jly 04 ILHSilly'Oo 73 73 112 112 70'"*7T H6 rt Due Apr AUueJ'ly /c Duo .-Vng o Uun i)ct /< .»u« .\or 7UU0 l»ec s Option sale H 6 1 7 BOSTON STOCK EXOHANGE-Stock Shnre Oct. — Not rric«>i» Tuftdav Oct. 18 Monilav Baturilai/ 15 Oct. 17 Per C'eniuin I'ricew Wfdne$daii Thursday Oct. STOCKS OcU 20 19 Record, Daily, Oct. 01 Sange tor Year 1904 tKe lor /yeviout Year (1903) Week EXCHANOE :dl M»nge Bales B081K)N STOCK fYtday Weekly and Yearly Lowest Shares Jiighest HigKtat Loicetl I 8CU 86S4 85 '4 86 85 H. 85 >4 86 H) 102 lOOWilOl'4 1U1>4 102 86 101 101-\ 101 24tt'8 249''g 260 250 249 24!tHi '153 •240 163Hi 163 lOilHi 153 153 Hi 249 24'J 153 Hi 153 Hi .... 240 210 166 165 165 240 166 166 1C5 302 •802 X62 .... 166 165 302 Hi 302 H/ 153 153 ,163 185 •186 '240 302 1523« 152^4 163 »8 185 185 186 ' Itailroads 85-4 86 4 864 87 Atch Top <fe Santa FelOO 20,395 64 Marl4 87 Oct 21 541, Aug 89 7, Jan 102 1(I2'(, 102 IO214 714 88 Jan 7 1024 Oct 21 H5 Aug 1034 Jaa Do pref 100 250 249 4 250 260 Boston & jVlbany 128 23934 J'ne 7 251 Apr25l 244 J'ne 262 4 Feb 100 Ho.tton Elevat«<l 153 1534 153 153 100 62 zl37 Feb 5 154 4 Sep 'JOi 134 Auk|154 Jan 240 240 7 230 •J40 Boston* lx)well Marll 240 Apr 23 2.'.0 Aug|250 Apr 100 165 165 165 166 Boston <& Maine 100 268 158 Aug 3 1694 J'ly 13 161 J'neil95 Jan 170 170 1 100 10(5 Apr 1 174 Oct 71 170 J'ut-|l77 Apr Do pref 2 'J 5 302 ... 303 Feb24 303 Oct 2 290 J'ly 305 Mar 303 Boston <& ProTidencelOO 33" 130 J'nelr> 153 Oct 14| 133 S.-I 157 Jan 14S41524 OhicJancRvife U S YlOO 67 rllG4 J'nel5 1244 Jan li'i 110 Xov 125 Jan 1234 123 4 Do pref 100 185 14 10 1«0 J'lieU 185'4.Sep21'| 1K4 Nov 196 4 Mat 185 Con* MontCla88 4..100 16(j' Sep '04 Conn ife Pass Kiv pref 100 160 Apr 6 1624Jan 4; 160 Jau 170 Mai Last Hale J83 Oct "04 Connecticut Kiver...lOO 276 Jan 26 285 J'neUii 270 Aug im Feb 158 133 J'ne 6 141 Apr 7| 131 J'ly 143 4 Feb 137 137 Fitchburg pref 100 •48 •48 290 24 4 Jan 49 49 Qa RyJfc Electric... 100 433486? I2I 25 Oct 394 Jan •80 82 60 73 Jan 27 83 Aug 18; 75 Dec 83 4 Jan 814 814 Do pret 100 Last .Sale 42 Mar'03 Houston El'lric com. 100 42 Mai 42 Mar Last Sale 171 170 J'ne 7 lib Apri'C 1734 May 180 Feb Sep '04 Maine Central 100 420 114 Sep 10 24 Jan 21 17 Nov 3734 Feb 124 124 •13 134 Mass ElectTicCos 100 Dec 96 Jan 54 4 55 65 55 Do pref 100 1,"81 614 Oct 20 80 4 Jan 27 I6I4 Apr 25 1678 0ct21 167g 167j Mexican Central 687 5 Nov 28% Apr 16 100 1964 i;i8 S Y S H & Hart.. ..100 1,340 1854 .May 2 5 198 Oct 21 1IS34 .May 2-i 194»b196 J25 Jan Last Sale J 65 159 Aug 2 4 1 63 4 Apr 7 1614 Dec 173 4 Mar Aug'04 Northern X H 100 Last Sale 222 Jan 29 232 Apr21 220 Sep 232 Mar Sep '04 Norwich & Wor pref 100 202 202 111 198 J'nel3 207 Apr 21 196 Aug 2112 4 Feb 202 203 Old Colony 100 76 10 74 J'ly 26 804 Feb 1 74 J-ly 91 May 76 Pere Marqaette 100 713, 88^ 714 72 7134 68 Marl7 75 Jan 13 68 Sep 85 Jau Do pref 100 39 39 396 29 Aug 12 42 4 Oct 4 30 J'ly 71 Jan 39 39 Rutland pref 100 Last Sale 15\ Oct '03 .Savannah Elee com.. 100 J'ly 7 25 Jau Last Sale 40 40 Jan 15 42 Feb 3 75 Jan 8434 Jan Oct '04 Seattle Electric 100 •92 •92 May25 94 13 87 J'ly Oct 104 4 Jan 4 95 i94 914 Do pref 100 4 1(16410634 10678 108 Union Pacific 100 10,118 7ia8Marl4 108 Oct 21 6634 Aug i044Jan 94-8 95 95 88 86 14 Mar 95 96 4 AQg23 834 Oct 95 Jan Do pref 100 Last Sate 168 160 MaylB 168 Apr 21 zl62 Sep 17'8 Feb^ Oct '04 Vermont & Mass 100 212 89 Jan 4 93 Marie 87 4 Aug 97 Feb 914 914 91 914 West End St 50 110'4ll0'4 1104 1104 39 108 Jau 4 1134Apr26 108 Sep 1]16 Feb Do pref 50 Last Salf 164J'ly27 17 4 Feb 2 Aug'04 Wisconsin Central. ..100 154 Not 26% Jan Last Sale 37-'a Aug'04 37 4 J'ly 27 40 4 J'ly 18 384 J'ly 52 Jau Do pref 100 Last Sale 145 145 Jan 7 145 Jau 7 144 Sep 150 Jan Ang'U4 WorcNasliA Roch..lOO .>iiHcellaneous 9 Nov 26 Feb 19 193, Amer Agricul Chem.lOO 6,286 124Aprl4 204 Oct 18 lS7e 19 4 80 8138 Sli^ 616 71 Jan 5 8-2 Oct 18 66 4 Not 864 Feb SI"* 100 Do pref •5 3 Sep 6 250 6 Mar31 576 Amer Pnou Serv 3 4 Feb 4 54 7 Mar 50 24 14 24 >4 Feb27 27 4 Sep 16 12 Sep 24 Mar 2478 3lJ0 17 Do pret 50 24'i 13534 136'>b *136»8 137 AmerSugar Refin 100 21,027 1224 Feb 24 13734 Oct lb 107% Oct 1344 Jan lo5 136 •135 224 122 4 Jan 6 136 Aug30 116 Aug 123 4 Deo 136 Do pref 100 14334 144«8 1444 14434 Amer Telep & Teleg.lOO 13,237 liy'4 Feb 19 14476 0ct 19 11440ct 169 4 Feb 18 14 IS '4 1:" 634 Oct 9 Feb 19 20 Oct 17 l4 7eFeb 100 13.562 18 4 Amer Woolen 83 4 8334 65 Oct 83 100 2,530 684 Jau 19 84 4 Oct 1 794 Jan Do pret 83 4 Last Sale 4 3 4 Mar28 4 Sep 23 34 J'ly 534 Jan Sep '04 Boston Land 10 118 118 •117 20 1124 Janl6 1194 Sep ly 115 Oct 127 Jan 119 Cmnberl Telep & Tel 100 14 4 1514 74 J'nel3 15 4 Oct 3 1,675 6 4 Nov 624 Jan 144 14 4 Dominion Iron & St.. *6 4 T< *6 5 4 Oct 65 54 Jan 23 7 4 Oct 12 8^4 Jan East Boston Land 7 251 Feb20 Aug22 251 265 223 Dec 310 Feb 230 230 251 252 Edison Elec Illiun...lOO 831 al51 J'ne2-.' 1784Jau2-J 138 Sep 204 Feb 176 1764 1774 178 General Electric 100 42i% Mass'chusettsOaaCoslOO 7,941 3738 Mario 444 Augls 30 J'ly 4334 Feb 42=8 42'>4 42=8 »4 84 8414 Do pref 844 100 1,456 7734 Marl4 844 A.iglo 74 4 J'ly 8878 Feb 138 188 173 173 J 'lie 2 190 Oct 12 164'4 .Vug 190 Feb 190 190 -Hergenthaler Lino. .100 •134 •134 178 797 14 Apr 30 2 Jan 25 14 Oct 2 4 Jan Mexican Telephone.. >o 2 132 132 384 118 FebJ3 133 4 Oct 21 121 Nov 139 Jau 133 lOo 133 4 N E Telephone 9 Apr 20 Jan 350 4 Oct 11 4 Jau 28 PlantCom t'st stk comlOO Last Sale IS 8 Oct 10 17 J'ly 1 Do prel 100 Oct '04 229 229 2283. Pullman Co 131 208 Mar 15 230 Oct 13 197 J'ly 237 Jan 227 100 83. -8 595 64 Jan 19 84 Apr 14 64 Dec 10 Feb 834 Reece Button. Hole.. 10 1124 1134 11334 11334 Swift <fc Co 100 1,190 ^9934 Mar21 116 Oct 10 9^t J'ly 132 Jan Last Salt 22 4 Oct '04 TorrLngton Class A.. 25 224Jlyl8 22 4 J'ly 18 25 J'ne 2634 Jan •244 25 25 24 4 Oct 21 25 Augl2 28 J'ly 2934 Jan Do pref 25 244 244 •3 '4 Jan 10 134 Jan 4 2 400 44 Oct 14 5 Apr *34 4 Union Cop L'd <6 Mg. 25 1044 106 104 4 105 United Fruit 100 1,319 95 Feb 8 113 J'uelo 91 Aug 111 Jan 454Feb26 38 Oct Oct 19 55 56 554 4 53 Jan United Shoe Mach... 25 1,446 90'. 3134 32 28 Jam 28 32 Oct 20 27 Aug 31 4 Feb 3134 3134 26 Do pref May 12 Sep 1334 Oct ly 7 13 13 4 6 15 1389 100 1,245 4 Feb 1338 US Leather 7134 Oct 10 77 Jau 16 923b Oct 21 95 4.May 9238 Do pret 100 92^6 Feb Oct 1034 6 9 28 Oct 19 200 4 Feb Rubber 184 100 U S S434'Jct 17 33 Jly 674Jan 12 40 4 Jan Do prel 100 Nov 10 May 13 2234 17 Oct 3978 204 21 14 207^ 8% Feb 30,442 100 21% U S Steel Corp 80=8 81=8 Do pret 100 31,408 514Mayl3 83=8 Oct 17 4934 Nov 89% Jan 81 824 •50 •75 Jan •80 Aprl2 Jan 14 Last Sale 75 'b\i '04 Mar West End Land 25 Oct 64J'ue 3 ly40ct 13 7 4 Not 28 Jan 184 19 19 19 West Telep <fc Teleg.lOO i',359 951. 94 178 76 Marl4 99 Oct 12 71 Oct 102 Feb Do pret 100 95 95 •fc6 87 170 75<4 J'ne28 85 Jan 21 67 Oct 108 Feb •854 884 Westing El Jfc Mfg.. . 50 Last Sale 9i Do pret 60 t90 4Aug 8 100 Jan 16 80'4 Oct 110 Jan Oct '04 ,^ •138 47 •81 138 47 139 47 82 »202 » » *SS 203 76 914 »110 ! 7 ' 16>4 193 193 H) 202 203 76 •40 91 110 91>a 111 20 81 Hi *478 24'* 6 24Hi 19'4 134'8 13534 143«8 18'4 20 83 Hi 84Hi 141 131 181»alSl'a • la •8 .... 230 108 8 22 ' Hi 25 ' 2014 19=8 20 82 81 813( 5 5 Hj 81>« 30<^ 80H ,••70 •17 •95 Si's 81 Hi 1 229 •8 109 229 ' 224 25 • 34 4 3Hi 10534 544 5514 31^4 313, 12 Hj 1334 105 10534 5418 28*3 384 2218 82 83 Hi 814 «3 •a7 183« 18 95 99 64''e 1334 13^8 83Hi !?3Hi 100 334 6H1 Hj 32 ••70 -87 H ••70 -874 173» 18^4 184 19 •95 99 83 Hi 86 •93 100 96 95 •85 •94 87 100 334 334 6534 12^4 6434 1234 6534 11^8 6378 1234 65»8 14 13 133, 134 134 -90 • Hi 334 *-60 ••60 1 1 14i« 14 18»4 14 30>4 31 297s 30 \ •50 -55 ••60 ^65 OHi 8\ US'-. ' 21 64% 560 8 112 22-->8 13 6H, 229 '228 8434 12 •650 17t 1314 8434 21^8 8434 4 13 f 131Hi 84*4 4 •87'2 il l2Hi '94 I3S4 134 83. 423^ 139 111* lUO 121a 64>4 8334 31 84 •»4 8434 424 189 llli^ 22 H 25 74 251 177Hj 178 31 "^4 32 11H» llHi -87 Hi *-70 19 99 "6Hj 250 I'l 132 119 15 15 1514 7Hi 1 833. •3 '4 189 • 21 Hi 22^4 81 Hi 8:<»6 21>« 83 ai7 250 132 5 24 14 24 '4 135 Hi 13734 135 135'-. 14334 1447g 19 18 84Hi 119 4iia 4ii6 4 4"* 4 105 'i 106 106 106 Hi 106 •5334 54 63 Hj 64 Hi 'ftS I 914 110 110 81 Hi 5 24I4 134 81, 95 91Hi 112 189 110 109 -y5 95 91H; 177»2 42»8 83Hi 83H2 133 ... 93 Hi 93 Hi 10.i3, 107>4 20 14 •7 229Hj2:i9H2 8»4 109 •40 94 250 176 42 2 830 •8 Hi 39 •334 .... 71. 71 71 ' .... 117 IHi I'-. 203 75 83Hi '334 117Hi 117H< 15'. 15 7>4 203 75 71 39 25 135 Hi 137 H! 135 136 143 144^4 18 '4 18-'4 135 '8 137 7 203 76 110 81 16'4 71 9138 91*4 12 H? 203 10734 6H1 550 660 '^ 65'. l'J5 •40 •92 107 y5 ... Hi 194 •37 93'a 9312 106»4 107 'e 94^8 94^ 12 Hi 193>«194 ' 250 252 262 174>al74»a 174Hi 175 42 14 42 42 42 83 "a 83>2 83 83 Hi 190 189 190 190 l>a ' 55 I6H1 40 fll7 118 14 14 14=8 » 65 16>4 40 -S'* ' 13 55 16^4 40 •24 25 136 136»4 136 136 139 la 141 184 17 83 >4 833< ' 13Hi 66 71>4 I8H1 19'^4 80>i 81 *4W, 5 1 13Hj "a 71'4 111 137 137 47 Hi 43 H) •81 Hi 82 ISHj 71'2 943< 137 47 82 55 16>« •40 .... •93 94 107i«107»8 .94I4 47 82 80 •13>4 14'4 65>a bb^ 14'8 16H, »193 194 137 47 •30 ISSHi . ' Wa 8 334 33. 12 '« 64 4 12 63 1 555 656 27 27 ••40 ^46 11 13 61«4 62 18 13 •66 67 7H> 7H. ••40 45 •40 -40 14 61 14 27 "6i'i"62Hi 137, 13 57 57 555 550 27 Hi 552 550 •74 I3I4 •55 '•40 60^% 6214 I314 27 >4 27 814 '45 ••41 613. 134 134 •56'4 57 67 1114 1114 2*4 8»8 2^4 8's 2.'4 834 334 20Hi •I's l"ie 21Hj 6<a 6><i ••60 .... •7'^ 8 48^4 49 6^4 5^8 •21 •1 21»4 95 2 1H( 2 G 125 6 Hi « 3'p 9'4 9G34 2'4 •2 Hi 3'fc 334 2 21 20 Hi 20 'b I'a Hi 6 14 -70 7H2 60 534 1 Hi 24 •808 379 9 2 21 21 Hi 6I4 6I4 •70 •70 8 49^8 6='8 1'8 734 6'4 •1 IHi »4>-j 94 II4 l\ I's 2 IH; 2 5 '1 •1 5% 25 1134 1134 3^8 834 96 2% I'Bxo 6 124 534 93b 9 2534 12>4 24 42 >4 41 3'8 9 97 23^1 UHl 334 I"l6 5 •:^ 2 944 14 '4 2 5-\ 120 120 •1 878 14 94 H; 24 '4 25 11^. 4134 114 414 11^4 33, 3'e 9 25 9 96Hi 25 "I34 9*4 Hi 1>4 25 2 122 122 64 204 20 's 88 4 8334 94 Hi l"i6 61 97 2>4 #BeIore pay't of assess'ts called in 1903. 96 2-* c( 41»b 4 57 111 4 20 234 9 3»B 2 50 6»8 •2 •8 20 74 61 124 124 2 6'4 •60 8 513^, 5914 21 6 2 95I4 122 37l 27 8 -45 -55 111 2 2 95>4 134 9 •74 21 89 91 25 Hi 25 Hi 210b 24 2038 20 20 'b 2114 8!t h» Hi 25 Hj 251.J 87^ 24 Hi 26 >a 11^4 12 41 >a 42 V 334 9>A 96^4 t2>, 49 Hj 1 2ti S"* 7H» 21 25>a 2 6 »122 •70 m, 95 Hi 6 14 21'b 90 >a 90 >a •m 1'4 I's 21 234 834 2118 "63% '64'4 ••90 ••50 1 14>8 14 13«8 30I4 30»8 30 -63 ••50 •60 •53 -63 ••50 -bb 6 '4 64 6=8 04 64 63e 64 ••90 ••50 Hi 27 33< Miuing Adventure Con 26 25 Allouez '4 6 ••60 3'(. 204 2 2034 6 74 1 734 4934 •5 5034 64 Last Sale lU •I 20. b7'8 25 14 94 2034 88 4 25 13. 95 •1 •14 64 119 17, 5-V 120 Last Sale 834 9 Last Sale 23 4 24 4 114 414 1134 4134 3 "8 334 9 9 9 96 96 96 2', 2 2 lis 438 Sep 2S 590 •75 Aug 3 4,913 d3i'i8Mar 8 (15 4 Sep 27 Feb 8 6534 Oct 17 5 25 770 26 25 26 3,757 50 21,303 40U 10 64 BostonConC&G (rcts)£l 2,260 y3 25 557 4 560 Calumet <b Hecla 09 10 Sep '04 Catalpa (Silver) 25 4,027 27 28 Centennial »l4 Central Oil •74 26 240 ••38 •45 Cons .Mercur CTOld... 635 Continental Zinc 25 615 61'-. Copper Range Con ColOO 14,817 61 905* 20 124 124 Daly- West '564 Dominion Coal 100 20 57 100 10 Do prel •24 12 234 Elm River 235 25 450 834 834 Franklin 3»3ie 37i Granby Consolidated. 10 8.M2 2018 20=8 Greene Consolidated. 10 6,135 ii.'i'JO 2 2 Guanajuato Con.soi.. 2,6^0 2034 214 Isle Royale (Copper). •43« 1,110 54 Mass Cousol ••00 Mayrtower 215 1 8-'5 74 7 4 Michigan 5034 Mohawk 11.380 604 1,290 54 .VIoulunaCoali& Coke 54 Oct '04 .Mont (ft Boston ctfs.. /4 •1 oil 25 IH. Old Colony 26 2,8.S5 203, 21 Old Dominion 2.') 2,055 8834 89 Osceola 25 4 254 Parrott(Silv<fc Copp) 10 l,3-'l 4 75 13< PhOBUlx Consol *14 25 91 96 Quiucy 96 26 375 1"* Rhode Island 14 13, Santa Fe(Gold<fc Cop) 10 l,^.it>0 134 10 3.,^50 534 6 Sliannon 101 26 1184 119 Tamarack Tecuniseh 25 150 1 1 33 J'ly'03 Teuuessee 8,76^J Trinity 9 100 6 Mar'04 United Copper 24 '4 UnitedStatisMinina 2.' 42,><.»8 2234 1134 U nit States Coal <V;Oil 26 5,381' 114 41 'f Utah Con (Gold) 6 414 26 l,4li4 334 33, Victoria 334 834 Winona 25 1,180 205 25 96 96 Wolverine Wvandot 25 2,960 2 2 •55 Bonanza (Dev Co)... Before pay'totassess'ts called lu 19U4. •liidaud asked. H 2 Dec 2 34 Jan Jan 18 84 Mar 75% Mar •75 Mar21 Maris 1 14 Feb 1234 Mar 8 Feb23 14 Oct 14 1638 Feb 24 25 Oct lu 16% J'ly 314 Feb •26 Feb 2 6 4 Feb 14 J'ly 25 •75 Sep -20 J'ly 26 •75 Oct ; •25 Api •95 Mar Oct 14 4 Feb 7 7 Feb 11 1434 AugSO 19 Mar 2 3'.i4 0ct 21 20 Dec 39 4 Feb •39 M»yl4 •55 J'lylO •40 Dec •90 Mar 64 J'ly 26 7 4 Sep 1 J'lv 551 435 Jan 4 560 Oct 11 400 J'l Mar •03 Apr 23 •09 J'ly 15 •OS Feb 10 Feb d 14 4 Feb » t -29 4 Sep 7 12 J'ly 31^8 Feb 534 Sep 678 J'ly 25 10 May20 9 4 J'ly •20 J'ly 16 •76 Jan 5 •35 Nov l''73j Jan 104Sep Oct 18 7 4 Apr 6 14 16 Mar 38 F'eb23 62 4 Oct 17 37 Jly 75 Feb 31 Nov 48 4 May 1034 Aug 1 36 Jan 40 J'ue29 72 Jan 2 59 4 Oct 13178 Jan 103 J'ly 6 113 Jan 2;; 106 Oct 118 4 Feb Amalgamated CopperlOO 31,717 43 Last Salt 7a Mar'04 Amer Uold Dredging ri\ 1234 134 134 Am Zinc Lead <& Sm. Last Sale 25 Oct '04 Anaconda Last Sale •65 1 Oct '04 Arcailian Last Sace 60 1 Oct '04 Arnold 14 14 14's 144 144 Atlantic 31=8 304 31 32 '4 Bingham Con Mint& S 3138 Last Sail 27 "a 27»4 3'4 New stock. 333« Oct •50 Feb 6 Jan :: 134 J'ne27 J'ne 2 7 2-'>8 Maris Oct 19 •62 4 Feb 16 20 3 4 May 21 Feb 25 •45 J'ly 15 15 3 9=8 Sep Sep 2 7 44 Apr2V' 21 4 Oct 17 Apr 8 2 2234 5 Sep 26 4 Oct ', .\ug23 1 34 J'lielO 8 4 Oct 1 ( 34 >s Feb b 5138 Oct 18 2 '4 Jan 1'.' 6 Aug30 •40 J'ly 5 1=8 Sep Oct 5 J'ly 334 J'ly 14 2 7 54 J'ly 3 •50 434 J'ly 55 Nov J'ne 9 Feb 9 50 J'ne F'eb 43 4 J'ly 16 J'ly (1 y "4 53 •2"Jf (i-50 80 I'leAprUb 22 4 Oct 10 91 4 Oct 10 Feb 1 29 4 Feb Aug (13 Jan 25 FebJi luo Jan 5 8 -J 1' •50 MrtV_'3 l'eJui;-J4 3 4 -^ut' 1 - 85 •25 24Jly 15 94.'anl!'>';t Oct 2 Mai 25 l5 .Mat 19 2 4J'iiell 69 !^ .MujSl 128 33j •50 l'4.A.pr J'ue.'O 18 Jan 4 8 4 J an 4 30 Jau 2 5 Jly Dec Dec 31 ', •50 Dec •60 Feb 23 J an 5 FebJ3 1 1- 5 Nov 3 Jau 17 4 Feb 18 Feb 1 4 Jan 4 Feb 58 8 Mar 2 1 Feb Jly De.; 1476.^pr Oct Oct Nov Jly 100 Feb Nov l»ieFeb 3334 Mar 1734 Jau 44 J'ly 14 Feb 4 Dec 3134 Jau 75 25 9% Oct 17 6 Marl 263, Oct 1 7 '.I 164 J'ly 1'.' 1 Dec Jau 4 Dec 10=8 Aug2y 9634 Oct 15 (238 Oct 17 5 4 J'ly 61 J'ly •75 Oct 12 4 Aug3(i 43=8Sep 4=8 Sep Feb 2% Jan 2 4 Feb 23 4 Feb 79 Feb 34 Feb 7 4 Feb 126 4 Feb 4 Feb 3 Jan 27gDec 80 •76 1 7 Mar 5 4 Apr 7 8 22 27 4 Feb 17 Mar 33% May y Feb (1434 Mar 7 27f Mar Mar fAss'tpaid. ^Ex-rights. aE£-div'.i& rights D 5 Ogt. 22, 1904. Range — 9934 99'>4 Atch & Nebraska Ist Atch Top & S Fe gen g 4s. 1995 AG Adjustment g 48.... J'ly 1995 Not Boston Elect Light Ist 6s. 1908 M-S 1924 M-S Conaol 58 1907 J-D Boston* Lo-weU 48 1944 J-J Boston & Maine4V2S 1905 FA Improvement 4s Bost <fe Mon 3d issue 7s... 1904 M-N . January 1 9734 8SI4 99^4 109 1910 J-J deben 5s Non-oonvevtdeben 5s-..1913 A-O la Falls & Sioux C Ist 7s.. 1917 A-O Kan C Clin & Spr Ist 5s.-.192r) A-O Kan C Ft S <fe Gulf 1st 7s.. 1908 J-D 1928 M-N 6s Kan C Ft Scott ifc 1934 M-S & B gen 4s 1934 Assented income 5s 97»8 10258 110 Feb'04 104 »2 Apr '00 117 Feb'04 87 97 110 110 117 117 1st 5sl929 A-O 1st 78-. 1907 J-J L R Ft Sm Id gr 1st 78. .-1905 J-J Maine Cent cons 1st 7s-.-1912 A-O 1912 A-O Cons 1st 4s KanCStJo&CB & 9978 Jan '02 101 112 F-A Sj Mar'OH Jan '03 112-->8 112% 1918 J-J 100^4 Sep '01 1918 J-J II214. '04 Sep 99 J-J 1910 Sinking fund 48 100 J'ne'Ol 1917 A-0 Butte & Boston 1st 68 '04 Sep >8. 129 129 M-N ^a 1916 7s. 1st Cedar Bap & Mo R 117 14 Feb '03 1909 J-D 113 2d78..:. '04 80 Oct g4s..Mayl920 Cent Vermt Ist 100 Sep '04 Clue Burl cfe Q extend 48.1905 ?:! 107 Jan '04 A-O 1919 l8t 58 Iowa Div 100 >^4 Feb'04 1919 A-O loo's. lowaDjv l8t48 105 J'ne'04 1913 M-N Debenture 58 100 J'ne'04 1922 F-A Denver Exten4s 106 14 Dec '02 1927 M-N Nebraska Exten 48 99 Vj Sale 99 Hi 99 "a 1921 M-6 SW8I48 94 Sep '04 1949 J-J Illinois Div 3 i-js Joint bonds See Gt Northern 108 108 Oct '04 v/hlc JcKy & Stk Yds 5s. 1915 J-J 98-'j 98 la 981a 99 Coll trust refunding g 4sl940 AG 125>2J'ly'04 Ch MU & St P Dub D 68.. 1920 J-J 125 124^4 Apr '04 123 4 Ch M & St P Wis V div 6sl920 J-J 10434 Sep '04 Chic <fe No Mich Ist gu 58. 1931 M-N 104 >9 Sep '04 108 Mich gen 6s. ...1921 J-D 107 Chic <fe 109'4MAr'0'2 Concord & Mont cons 4s.. 1920 J-D 112 '03 Jan 14 Conn <fc Paas B 1st g 48... 1943 A-O 100 Oct '04 1927 A-O 100 Current P.iver 1st 58 98 Aug'04 97 98 Ist 4s... 1946 A-O PetGrKap& 107*4 Oct '04 1913 M-S 107 Sz Dominion Coal Ist 68 103^4 103»4 1906 M-S 103 "a Eaatem Ist gold Ss 102 Hj Apr '04 1915 Fitchbturg4s llli4May'02 M-S 1927 4s 137>2Aug'(>4 IPremt Elk & Mo V 1st 68. 1933 A-O 138 137 Feb'04 1933 A-O 138 Unstamped Ist 68 96^4 96^6 Sale 971s Bt Nor C B & Q coU tr 48 1921 J-J Q-J 96\ Oct '04 1921 Registered 4s 113 IOOI4I02 99 9i)34 112 — 128 12918 78 81 99I2IOO IOOI4 100^4 104 105 9914 100 B& Sliare Pricc«» Saturday Oct. 15 Oct. 17 16% 824 944 95 16% 16% 34 7%1 34 14 34*4 8 8 i8 24 12 48 49 24 24% 6*18 6I16 6*18 2434 6*16 95 82 •94 16 1614 8334 7% 4734 9% 9% 9% 8 8% •43 98 1051^109 10334 10488 10212 103 484 137 137 21 90 914 92 4734 48% 3% 87 67% 68»l8 43% 43% 67% 68 43% 434 7 7 16 16 iS'iB 437ie •39:'4 40 661* 66I4 97 3% 671619 683io 424 43 83ie 15 9634 9734 PHILADELPHIA 9734 .Bid Ask 10 Anier Iron & Steel 50 Bell Telephone 60 Cambria Iron 60 Central Coal & Coke. 100 Preferred 100 Consol Trac Pitta 50 Preferred 60 Danville Bessemer... 14 46 Hi 4 ..... "ii" 125 813l9 37% 96 4 97 14 98 424 15 38 44 a;40 5(!i4 97 14 *19 50 24 14 Cambria Steel 50 6% Consol Lake Superior^.lOO 11 100 Do pref.t 9% Electric Co of America 10 11 Gen Asphalt interim ctfs.. 323, Do pref interim ctfs.. 92 Lenigh Coal & Nav 50 4834 Lehigh Valley 50 334 .MarsdenCo 100 68% Penu.sylvauia BR 50 42% Pluladelp'aCo (Pittsb) 50 93ia I'hiladelpbia Electric. 25 16 Phila Rapid Transit... 50 39 Reading 60 44 14 Do 1st pref 50 40% Do 2d pref 50 56 4 Union Tracton 50 98'. United Gas Impt 50 WelsUucliCo 21 100 cfe gen 5s '19 J-J 1st con 6s 1932 of J l8t5s-'33 Con Trac N EcfcAlstMSs 1920 M-N Elec cfc Peo Tr stk tr ctfs Elm cfe Wll Ist 68 '10. J-J Eq II Gas-L 1st g 5s 1928 H cfe B Top con 5s '25 A-O 4s-1933 1014 11 Lehigh Nav 448 '14. Q-J RRs 4« g 1914. y-K Gen M 4 4s g. 1924. Q-K 12 60 100 Pliila(;o (Pitta) pref... 50 Phil German & Norrla.SO Phila Traction 60 Ballwny.i General 10 Snsqueh Iron <fc Steel.. Tidewater Steel 10 Preferred 10 United N J RR jfcC.lOO 89 8934 4634 47 14 155 160 97% 98 3 1% 2 134 903, 103 44 110 G Ry 25 50 50 "i" Warwick IronA Steel. 10 We«t Jersey & SeaSh.60 684 Weatnioreland Coal. ..50 ; " 154 10134 102% !02 103 IO21SIO4I4 100V;102i2 10038 101% 104 14 IO4I4 I0II2IOII2 I2012I2I lOBiglOSJ" 91 95 100 10334 107 Feb '03 1 05 Hi Oct '04 03 Aug'04 108 108 100% 1051.3 Apr '03 102 J'ly '04 112 112 94 103 IOOI2II3 71% "i 102 10134 IO212 9812 103 15 Sep'04j and asked. U2 .. 112% Trust Co. 1| (^0% 102^4 lOSmOoia 10234 103 87^4 J'ly '01 ctfs. Weekly, Yearly Range for Year 1904 Lowest Range tor Previous Year (1903) 574 Jan Highest 5 71 J'ne 2 J'ne21 1334 J'ne21 534 J'ne 1 7 Highest Lowest 83 4 Oct 20 97 Sep 29 16% Oct 17 34*4 Oct 17 y Sep 28 58 4 Dec 72 4 Jan 84 4 Oct 118 Jan F-A 1st 4s '36.. MN 787 4934 Aug! 6 24'4 Oct 17 634 Sep 19 4034 5,734 1(1,635 15,28'J 2% Mar 3 41 IB .tan 25 55%Marl2 68% Oct 21 37% May 17 43% Oct IT U7,17U 8,396 99,934 194Marl4 2S4 484 1,293 6,950 Rid 1034 Dec 28% Jan 20 Oct Oct 45 8 Jan 14% Jan 110 Welshach 84% 84 52 s : loi' 114 117 123 145 117 4 98*4 60 100 2d pref Unit Klec l.ct P pref. 50' 110 is ex-diviueuO. 5 5 38 39 4 107 Ii ' 1 Es-righu. .•.» ti^iOpauL t Rid 85 4 Ask 87 117 *>>>•• 114 ., no 10414 10434 117 110% ill' llbu 116% 109 111 109 4 111% 119 IIJ 115 iv.-;" lU no 1('5 263j .\retSt(Waah)lst5s'25FA Mt Ver Cot Duck Ist 5s. 117 68 4 18 A 58 1926 120 120 11;.' Scc.VvT(Pitt8) 5a'34 J-D Sav Fla cfe West 5s '34 A-O Seaboanl A L48 1950 A-(* Koau 5s 1926. J-J South BouihI 1st 5s.. A-O 274 69 19 106 110 J-J J-J B 58 1926 55 99 Pitt ITn Trac 5s 1997. J -J I'oto Val 1st .5s 1!>41..J-J 113 115 115 8II4 814 ...... ii'i" \.&l' lst4 4s'29M.N L"n livct i;i 1st 4s'49 M-S 95 95 '4 yo-f 91 J-D Income 48 1949 Va Mid Isl 6s l'.t06..M-8 4 46 4 4? UKI M S 191 1 series 6» 19Ui..M-S 4th ser 3-4-5s 1921 .MS 51 h serins 58 1926. M-S Va (Stale) 3s new '32. J-J Kiin.ldpl>t2-38l991.JJ West X V. con lis I'.IU J-J 2d series 68 . . . 3(1 ..... 116 102 4 M-N 2d incouR' 5s 1951 s.'abifc L I t 44lli8 F>!b Nov 40% Jan 40% Sep 4734 Feb 76 Oct 1164Jan 20 Aue 31 Mar iJAi;n.>i<)UK Series Series 10334 104 I Jan DfC 2734 Norfolk St 1st 5s '44. .J-J North Cent44s 1925 A-d JJ 68 1904 U1MhI<)5',;M.S| 98% 98% AtlCoasl L((;t)ctfs5s J.D! 117 119 Ctl.Hor indelit 4.S 91 92 -J Ball cl'asslsi 5s'll M-N 108 108 4 Atliili i; MN Lowest 137 300 95 27 4 97 loo 60 65 7% 8 100 100 100 lioudH AnacoHtia A I'ot 5s Atl cfc Ch I Ml 7... 1907 J.J 1 XptN€feOPlst58'38M-N 1 9 4 1 M-S General 08 90 Fla...lOO G-BS Brewing Mt Vernon Col Duck Sep 36 Incomes 15.^> LineRR lOo 135 L (Conn)!0() 290 cfe 1 Knoxv Trac 1st 5s '28A-0 101 116 LakeR K,l lstgu5s'42M liALTLtlOKE lat pref 145 4 Ask 1014 Dec Nov 36 J'ly 64 Aug 7934 Feb 34 4 Nov 45% Jau 4 Jau 1 4 Sep 55% Nov 7834 Jan 35 Oct 4734 Feb Aug 9 J an 5 734 Dec 17% Jan 1834 Nov MiiieJiiu 1 :t 03 tos 1930. J. Canton Co Georgia Sou 113 93ieOct 21 Sep 10 6 tl8 39 Oct 2 38 ilar 1 44 14 Oct 21 28 Marl 4 JOi^mOct 20 45*4 Jau 2 56% Oct 18 «1 May] 6 9934 !sep 26 1 934 Oct 1 22 J'uelS II6I4 Inactive Stocks Atlanta^ Charlotte. .100 Allan Coast Allan Coast 109 Jau 7iieOct 10 (Jeorgia P 1st 68. ..'22 J-J 122 4 104 1084 1104 GaSo cfc Fla 1st 5s 1945J-J 114 G-B-SBrow 3-4s 1951M-S 5434 tr RE U Trac Ind gen 58'lSi.J.J U I'rac Pit gen 5s '97 J-J 10834 May2o 8 Jan 26''4 % Nov 9«i8Jan %Dec 4034 Jan Chas Ry G cfc El 5s '99 M S 72I4 CharlCcfe Aexl5s.'09 J-J 72 2d 7s 1910 A-O 104 104 4 City cfc .Sub Ist 5s.. '22 J-D 1254 126 4 Citycfc Subl\Vas)l8t5s'48 I20I4 120^4 ColcfeGrnv IstOs. 1916 J-J Consol Gas 6a. ..1910 J-D ibVi" io'o" 1939 J-D 5s 104 14 10514 Gatfc Ala 1st cou 5s '45 J -J 12.-) Ga Car cfc N 1 st 5s g '29 J-J 4s '21.J.J Ry con 58 1930 Side 4s interim ctfs S 9934 100 5 524 Jan Dec 17I4N0V 103 Terminal 53gl941.Q-F cfc tIvii4Sep21 10 Sep 20 13 4 Feb 8 38 4 Feb 6 9 J Oct 17 20 M W B col Rociiester i 734 Feb 8 54J'lyl5 AuglO 624 Jau 14 21,880 3334 Feb 26 494001 13 6,653 Phil Elec gold trust ctfs. Trust certifs 4s P cfc E ger 5 g '20. A-O P % Mayl3 2,591 1,769 cfe 10034 J'ne 3 l%Mayi3 Gen M 4sgl920..AcfcO Ph Read 2<1 5s '33. A-O Con M 78 mil J-D CouM 6sgl911....JD 119% Ex Imp M 4s g '47. A.O 46 Con M ot '82 4s '37. J-J Income 4s 1939. ..M-N || Tifl 102 12 102 "2 93 97*2 Mar'02 Sep 'o4 10234 8i)0 Deben 6« 1905 M.S Hall liiiiilii 5.M.l!)l(iM.iNi Penn gen 6s r 1910..Var Vi-i" K.\(hMnvi':i4s 1930 J -J Consol 6s c 1905... Var Rciuniiiiiu ;;'..» I'.t52.i J Consul 58 r 1919... Var Hallit I'lsiCsnii'll .\.o\ Penn cfc Md .Steel con 6.m. 1:2 Halt 'ITaclM .".s..'29 .M-N Pa cfc N Y Can 78 '06. J-D 106" 107 No Hall l>iv.-.,Hl!lf.' J.D Con 6s 1939 AO 113^ t;oiivertil)lc- .".s.'Oi! M-X Con 4s 1939 A-(; Ce n Uy con 1 932 -M .N PennSteel IstSs'n Kxicfc Imp .")S.1932 .M-S People's Tr tr certs 4h '43 104 1044 ChasCiiy Ky Ist 5s '23 J J PColRtcfccoltr5s'49 MS no 111 no sales on tlus day. 22 10334 Oct '04 102*4 10234 Sale 18%May25 I 272 14 704 13 6'8 8038 Sep '04 102i4Sep'O4 105 Is May'04 105 12 102 le o'i'^ .... 1 10734 108 263 43 106 Newark Pass con 5s 1930 N Y Ph cfe No 1 St 48 '39 J -J No Penn 1 34 106 Is Mar'03 100 12 100 Hi 102 95 95 13,149 7,715 PHlLADEIiPHlA Ask £id Ry Leh V C Ist 5s g '33.. J-J '6614 Leh V ext 48 Ist 1948. J-D 64 2d 78 1910 M-S 14 3 Consol 6s 1923 J-D 103 103 4 Annuity 6s J-IJ Leh V Tracl«t48'29.J-D 100 Nat Asphalt 5s reels. New Con Gas 5s 1948 Jl) Steel. Bid and asked prices Col St 62 4 North Pennsylvania. .60 Penn Gas Coal 50 Penn«ylvania Salt 50 Pennsylvania Steel.. 100 * 91* 1514 3734 443i(j 443ie 40i6ig40i6ie 66 4 56^4 8% *15 Interstate Rys— 3-3 4-48 1943 19 KeystoneWatchCase.lOO Lit Brothers 10 Little Schuylkill 50 Mlnehill cfe Schuyl H..50 Preferred 683i8 IndianaiK)lis 18 50 Unit Pow <fe Trans United Trac Pitts 90 4 48 4 68 41% 42% 67 PHlLiAUEl.PUIA Ch Ok % Keystone Telephone ..50 I>ret(;rreil 904 91 47% 48 ' 1 <& 913l6 *9 Che & D Can Ist 5s 16 J-J Choc cfe Me 1st 5s 1949 J-J Pow A Cheni.50 Haven Iron 6 11 3234 Balls Ter 1st 58 1926. J-D 47 Preferre<l Nesqnehouing 934 BergjfcEBrwl8t68'21 J-J Bethle Steel 68 1998. Q-F Easton Con Electric. .. 50 Elec Storage Batt 100 Preferred 100 Germantown Pass 60 Harrison Bros pref. ..100 Indianapolis St 100 N 15 2,205 2,433 1,180 48% 48% American Railways 24 334 8% 81, 459 209 Seaboard Air Line 8 Al Val E ext 78 1910 A-O 1164 4% AmRy8Conv58 1911. J-D 102% 102 4 Atl City Ist 5s g '19. M-N 113 r« Steel Preferred 9% 67% 68% 4234 42% 97 63i8 4 334 93 103 118 118 70 22 6^8 May'04 121 J'ly '04 1031s Aug'04 10313. 104 10638 10818 100% 10134 I20I4 122 May '04 118 70 22 9II2 81 103 10038 1003h I04I4 J'ne'04 101 ij J'ue'04 Daily, ttie Shares 100 50 100 33I4 33% Do pref 100 7% 7% United By & Electric. 50 16*4 107 >2 110 117 12234 96 92 Week Stocks see below) Bonds American Cement Diamond State 6iia 47% 48 15 97 Inactive Stocks Inter Sm 91 484 23% 24% 11" 33 4 914 00 S Sale IOOI2 latest bid ; Sales 0/ (For Bonds and Inactive Priday Oct. 21 96 12818 100>4 Philadelphia 48 91 price Friday ACTIVE STOCKS Thursday Oct. 20 334 334 30 No Exchanges— Stock Record, 16*4 6% 29 92 48 14 " 34 6% 9% 114 114 94 934 Boston Bonds. 16% 37% 37 >4 383i6 •43% 434 434 434 4334 44 •40 40 40 40 4 40% 40% •664 5634 6634 56% 56% 56'. 9714 all 3334 661a 7ii« 7 71 15 15 15 36iia36iKie 36i3ie 9634 *16 24 14 34 9038 1534 48 4734 9816 834 2334 914 137 1534 8 90% 91 48% 48% I3712 83 48 1 MS 83 24 14 244 29 lOlitj Baltimore •814 83 Consobdated Gas 94% 94% Northern Central 83 16% 33% 34 9% 9834 125% addition to the purcliaae price for Wednesday Oct. 19 83 95 63l9 97 Per Centnm Prices Tuesday Oct 18 82 95 —Not 109 12434 100 95 Philadelphia and Baltimore Stock Monday Hi 1231q124H2 100 10434 10512 108 MS NOTB— Buyer pays accrued interest in 1915 A-O 1906 J-J 1905 J-J 1st 6s 1924 FA Old Colony gold 48 con 4s. 1946 J-D Nav Oreg By <fe g 1922 FA Oreg Sh Line 1st g 68 BepubVaUey 1st s f 6s... 1919 J-J Eutland 1st con gen 412S.194I J-J Rutland-Canadian Ist 4s 1949 J-J Savannah Elec 1st cons 5s. 1 952 J-J 1930 F-A Seattle Elec 1st g 5s 1918 M-S Torriugton 1st g 5s Union Pac RB & 1 gr g 4s-1947 J-J 1911 M-N 1st lienconv 48 United Fruit oonv gen 5s. 1911 M-S US Steel Corp 10-60 yr 5s. 1963 M-N 1915 F-A West End Street By 48 1914 Gold4i2S 1916 M-N Gold debenture 4s 1917 FA Gold 48 Western Teleph & Tel 58.1932 J-J Wisconsin Cent Ist gen 481949 J-J Wisconsin Valley Ist 7s.. 1909 J-J . 1053(1 W ! , Sale 5s 9018 94 W . 72 22 N Y&N Eng 1st 78 99 '04 1223, 90 99 9334 9II2 91 10334 Aup'04 10638 106\ 100^8 1005, Sep '04 12012 Sep '04 102 J'ue'03 100 Ha J'ly J'ly Oct 122 14 i Low Miqh 75 J'ne'03 Mich Telep cons 5s tr rec.1929 J-J 1024 Aug'04 Minne Gen Elec con g 5s 1929 J-J 1929 FA 93 93 Sale i)3 New Eng Cot Yarn 5s 1906 A-O 1023^ Sale 10238 1023, New Eng Teleph 6s 1907 A-O 103 Aug'04 6s 1908 A-O 103 Apr '04 6s . 98ii2 Jan 1939 Jan 1939 96 128 97 lu:i 10638 Mara Hough&Ont l8t68.1925 A-O Mexican Central cons 4s.. 1911 J-J 1st cons inc3s I'd cons inc 38 Oct '04 99 \ 12234 Sale 96 Sale 9 lis Sale MS Kan C & M By & Br 99 12Sis J'ne04 10014 10014 '2 100 107 12 M KanCM Hiah 99 99 Since January Ask Low 983^ Illinois Steel 99=4 9710 109 Ranne Week's Range or Last Sale Priday October 21 Bid Low Migh 95 's Sale 109 Oct '04 109 101\ lOl-^e 10134,102 96><j 97 S 96 'a 97 <fe S^as. 1947 Migh Ask Low Bid a; CO Price BOSTON STOCK EXCH'GE Week Endinq October 21 Since Last Sale October 21 ^a. or 1693 BONUS Range Week's Price Fridav 1908 J-J Am Bell Telephone 48 4s. 1929 J-J Am Telep Tel coU tr78.. 1908 M-S Non-exempt 68 1 Boston Bond Eecord. j BONDS boston stock exch'ge Week Ending October 21 Boston Terminal 1st Bur&MoBiv ex 6s 3 I WeaV'a Ccfc P Wll cfc Ist 6g' 1 1 JJ Weld 5S..1935.JJ lo.i in 11 -i"" 112 no 112 96 4 07 4 1:04 i>ll34 1 1 5 112 IDS iteorKanisatlon oertUlcatos $3 assessment paid. 1124 — . THE CHRONICLE. 1(>94 Volume of Business at Stock Exchanges Kort [Vol. i^ixix. (Ja* S('curiii«M Wayne tls 1925.. J J VA Bergen Co.. 100 <la»<fc XBA_NaAerioNs at THK NEW YOHK HTOCK liXCllANaK DAILY. WKKKLY AND YEABLY tt'efk Blocks ^ndino Hailrooil October 31 iytj4 881,681 1,836,280 Saturdiiy Monday 1,509,604 1,748,929 1,300,234 1,893,247 Tueatlay Wedneadiay Thursday Friday Total $83,947,500 169.216,000 140,M44,450 Sales at Stoek Wuk 6,633,500 f00,000 78,600 67,000 62,100 62,000 241,500 $89,267,000 $661,100 9,95 ,500 1 7.0.J-<,500 6.90(1, .^)00 4,i)t;7,000 ldt',951,450 ending October 21 January Sew York Exchange 1904 Stocks— No. shares Par Talue Bank shares, par.. Bonds $4,l»0(i,()00 121,734,700 170,629,860 0,168,876 $847,322,950 V S Bonds State <£e Bonds Par valu* Shares 1903 1903 6"6i"lo6 $'l6,506 BH. and mis. bonds 39,257,000 15,640,500 $592,680 13,426,940 636,461,900 $9,281,850 436,100 544,061,300 Total bonds.... *39.818,100 $15,656,000 $650,480,620 $553,779,250 DAILY TBANSACTION3 AT THE BOSTON AND PHILADELPHIA EXCHANGES Boston Week ending October 21 iyu4 Saturday Monilay ... Tuesday Wednesday Thursday..., Friday , Total. Philadelphia Listed shares Urauted Bond LisUd shares sales shares 30,132 65,555 47,749 47,957 39,852 33.356 13,782 37,068 25,371 19,505 16,476 11,166 264,601 128,428 $6,000 13,500 76.600 55,000 35,800 82,000 27,537 47,096 64.285 79,983 58,837 76,140 $267,900 Bond Unlisted shares 353,878, sales 13,662 31,375 22,916 17,701 14,953 18,912 $66,500 47,000 517,900 639,900 308,800 332,800 120,619 $1,812,900 Outside Securities A I Weekly BevUxo of Outside Street Kaiitiraya jjj^ NBW YORK ' ! Market will CITY Bleeck St& Ful F stk 100 Hist mort 48 1950 ..J-J TIB'y<fe7t.hAve3tk..l00 pdmort 58 1914 ...J-J Con 58 1943 See Stock B'way Surf l8t 58 ga 1924 2d 6s int as rental 1905 TICent'lCrosst'nstk..lOO Ask be found 07>. 34 98 245 107 Eich List n08 § 110 99'2 101 330 TIlstM 6s 1922 ...M-N 5117 lUCenPkN&EKstk.lOO 205 itChr't'r&lOthStstklOO 177 Col& 9th Ave 5s i&'ee Stock Exch 350 121 210 185 M-N Street Uailvrays Lake St Chic) El stk. 1 00 Isl 08 1928 J-J IJLoniav St58l930..J&J £in Ask 3 >. } 93 97 113\i 114 Lynn<fcB08l8t5s'24.J-D {112i2 1131a NewOrlKysCo 100 10 11 Preferred 26id 28 lOO 4128 1952 J-J 78 80 li North Chic Sir stock. 100 78 80 Pub Serv Corp of N JlOO 103 105 Tr ctfs 2% to 6% perpet 6734 6814 North J ersey St Ky 1 00 22 I8t4sl948 M-N ConsTiacof N J...100 Ist 5s 1933 J-D New'k Pas Ky 58 •30J-J Or & New Isl Os '05 A-O Essex Pas 68 1905 M-N Rapid Tran St Ky..lO0 1st 68 1921 A-O J C Hob & Paterson 100 4s g 1949 M-N So J GasEl&TraciOO 95 Exch 103 preferre<t TCoininiiii as Huck C0HI1& IstgSH 1917 Col 96 list 42 05 Hid f2 9S 100 100 I 2il I [if Ask 101 10s 105 95 65 10(1 80 J-J|J 85 Air Co. ..100 Cousolid (Jar ile^iing 100 llCons Firew'ks com .100 II Prelerreil 1 00 92 Conipre,itsed 66'* CO 40 15 65 106 Hi CoUBlty l.tctKefng.lOO 5 '4 Jackson Gas Co 60 81 CoMHol Rubber Tire. .100 '4 1 58 g 1937 A-O 5 98 102 Debenture 4h Siv 10 Kansas City Gas 100 12 20 CoUN Storage Battery lOo 10 1158 1922 A-O 598 99 ConlTobac deb 7i»'0.".A-O 5101 :o2>« IILaclede Gas 100 95 Cotton Oil<t:Kibre,pier.25 5 liPreferred loo 82 100 (Jranjps' Sh<feEu BlOglOO 211-/ LAfav'eGa8l8t68'24.M.N 68 63 HCrucible Steel 6 '4 100 638 U)gAWabVl8t6s'25.J-D 39 42 H Prelerred 391.. 100 .v.^\ Madison Gas 68 1926.A-0 5106 109 Cuban (js of 1896 loo lu2'a Newark Gas 68 1944. Q-J 5135 135 H, 11 Diamond Match Co.ioo 135 136 Newark Consol Gas.. 100 81 81 H, Dominion Securities. 100 5 20 HCon g58 1948 S-D 5108 109 Electric Boat 100 39 45 No Hudson L <& Pow— Preferred lOo 70 75 6s 1938 A-O 5105 Electric Lead Keduc'u.50 ** \ ! 1IO€feIndCN,at& lU .100 3 5 Preferred 50 t lia Ist 6s 1926 40 J-D 45 El ectrio Velucie 1 00 16 17 Pat & Pas Gas A Elec 100 63 05 Preferred 22 loo 234 11 Cong 58 1949 M-S 5103^4 105 Eleciro-Pneum'ic TranlO t '4 39 St Joseph Gas 58 1937.J-J 90 92 Empire Steel 41-., loO 6 Preferred loo 32 38 TelesT «& Telephone UGeneral Chemical ..100 48 55 1IAmerTeleg<S; Cable 100 92 94 H Preferred 94 1 00 96 BellTelephoflJullalolOO 100 Gold Hill Copper '4 1 f h HCentralifc So Amer. 100 106 109 Greene Con.sor Copper. 10 t SCj, 211llCommercial Cable ..100 200 Greene Consol Gold... 10 t IC Gommer Un Tel (N Y).25 115 8 12 Emp & Bay State Tel 100 78 82 HackensackMea<lowslOO Hackensack Water CoFranklin 47 52 lOO Kef g 48 52 op 12. ..J J 594 93 HGold & Stock 100 120 123 Hall Signal Co 80 100 84 1|4ias, 1905 Havana Commercial. 100 8 15 Hudson River Teleph 100 90 94 Preferred 15 100 35 UN J Teleph. ..100 1561a 158 Havana Tobacco Co.. 100 29 2934 5s 1920 See Stock Ex Chang e list Preferred 38 loO 41 UNorth western Teleg. 50 120 123 HeckerJonesJ^ew'I Mill Pacific & Atlantic 78 82 25 18168 1922 M-S 102 105 HSouthern & Atlantio 25 100 103 Herring-HaU-MarvinlOO >4 1 1st preferred 30 40 loo Electric Companies 2d preferred 2 loo 6 50 M-N 51(16 H Y&N Chicago Edison Co... 100 TlKingsCo El L<fcP Co 1 00 Narragan (Prov) El Co 50 NY<fe y El L&PowColOO Preferred 100 United Electric of N J 1 00 4a 1949 J.D Ferry Companies a preceding page. ( 32 95 243 104 F-A 5101 100 See Stock lU Gun— 58 K 1949 Indiana Nat & Isl 68 1908 Indianapolis Gas.. Ist 68 1920 3m, ^Cladln(H B) iHt pref 100 \ BONDS State bonds 1915 liKluHirin) mill >iiHcei 66 30 1 9,168376 3,225,668 114,881,693 133,018,967 $847,322,950 $304,078,100 $10632006,400 112,461,837.775 $1 7,000 $17,200 $626,300 $679,500 OoTernment bonds Gas— KaiiidD lllsl 6h Hudson Co Gas.. ASK 62 t 1 to October SI 1904 Grand Hid 79>2 80 7414 7434 IO8I4 1141a 101 Brooklyn Ferry stoeklOO B<fcNYl8t68 1911.J-J Con 5s 1948 See Stock NY&E K Ferry stk. 100 Ist 53 1922 II-M N Y<feHobcon 58 '46. J-D Hob Fy let 58 1946 M-N N Y<fe N J 18158 1946- J-J 10th & 23d Sis Ferry 100 1st mort 58 1919... J-D TfUnion Ferry stock .100 Hist 58 1920 M-N Railroad Hoboken 158 160 190 91 63 87 24 77 iv 7314 I,and<& 1158 1910 Houston Oil Preferred Hudson Realty ImplOO 2O0 M-N 5102 loO 100 1 10 90 165 105 3 14 4 100 175 Internat'lBankingCoioo 6I4 Int'n'l Merc Marine. 100 6 Preferred loo 201a 20 'g Col tr deb 4 ial922op'07 77 79 International Salt 19 100 21 1st g5s 1951 57 60 412 51a International Silver. 100 4 9 106 HI Preferred.. 30 35 100 Exch list 1st 6s 1948 J-D 5 99 100 "5 9I4 10 77 85 Lanston Monotype 20 t 5 87 90 Lawyers Mort lusur.lOO 1871a 19712 5107 Lawyers' Title Ins. ..100 310 320 5109 110 Lord & Taylor pref ..100 102 14 105 5104 HLorillard (P) pref ...100 130 45 60 Mackiy Companies ..lOo 33 li 34 5 95 Preferred 72 loO 73 32 34 Madison Sq Garden. .100 10 20 93 95 2d 68 1919 M-N 60 Manhattan Transit 20 Mex Nat Construe. pf'i 00 Monongahela R Coal. .50 1 43t 9 1- 8 415 10 Sia Chic Peo <fe St L pref. 100 Preferred 23 50 Deposited stock 21a Mont & Boston Consol .5 1 tJndeposited stock 2^2 Mosler Safe Co lllst gold 68 1932.. .J-D 111 102 1« 114 100 Prior lien g 4 i2S'30M&S 5102 UNat Enam <fe Stamp 100 i(iii 181a 99 101 TlScrip 68 1914 ....F-A Con mtg g 58 1930. J&J 88 90 1] Preferred 80 85 loo U Eighth Avenue at... 100 390 405 Income 5s 1930 121a 171a National Surety TlScrip 68 1914 ....F-A 105 106 125 loo 115 260 Chic B. 1& Pac— Ref g 48 UNew Central (3oal T142d<feQrStF'y8tk..l00 390 405 42 20 48 110 1934 op to lull 93 A-O N Y Biscuit 63 1911. M-S 105 42dStM<fc StNAv..lOO 50 70 Erieconv48Apri'53A<feO 891s 90 14 Y Mtge & Security. 100 135 145 Jlstniort 68 1910 .M-S 104>2 107 781s N Y Cent deb 48 99% '34.M-N il2d Income 6s 1915 J-J 80 99->t liNew York Dock 14 85 17 100 109 Northern Pacitic 100 UPreferreil IhterboronghRapTr.lOO 160 162 43 50 lOO CJu g 58 1953 M-S 104 When released 135 160 N Y Transportation. ..20 7^8 Lex Av & Pav F 58 See St k Exo list 8 No Hud Co Ryes' 14 J-J 113 Noriuern Securities.. io'o 115 II5I2 Nor Metropol Securities See Stk E X list Lum'r <fc PulplOO l"* l»4 5s 1928 J-J 110 Pitts Bess & L E 34 50 36 HOntario Silver Metropol Street Ky See Stk E X bst Ext 58 1924 100 41s 41a M-N 105 Preferred 74 50 77 Otis Elevator com Ninth Avenue slock. 100 185 192 89 40 Pat City con 68 '31.J-D 100 Seaboard Air Line Preferred Second Avenue stocklOO 208 212 97 loo 100 2d 68-... 1914 opt A-O Coll ir 58 1907 op... M-S 97 98 Phoenix Mining 19 Ustmort 6s 1909 M-2v iWI^^ 103 »2 BochesterRy jiref ...100 20 1 101 South Pac pref llOie i) .lot 25i« J3>9 (w II6I4 Pittsburg F-A illlUj 113 Con8ol6s 1948 Brewing'."."."."50 Con 5s 1930 See Phila list Va & Southwestern loo 35 Preferred 45^4 45 Si HSixth Avenue stock 100 172 176 2d 5s 1933 50 J-D 5.... Wabash Pitts Term Ry16 't 17 Pittsburg Coal Sou Boulev 68 1945. .J-J H02 106 So Side El (Chic) stk. 100 100 92 "a l8tg4sJuuel 1954.J-D Preferred So Fer l8t 58 1919. .-A-O n05 108 72 7214 100 Syracuse Rap Tr 58 1946 5105 2dg4sJuue 4334 1 1954 44 Pratt Third Avenue See Stock Excli list 100 14 & Whltn pref.. loo United Rys of SIL— Realty A.ssoc (Bklyn)lOO 1421a 147 -a Tarry P & M 53 1928 103 106 Com vol tr ctfs 100 22 24 Royal Bak Powd pref .100 106 107 Yker8StRKo8l946A-0 105 107 Industrial and Itliscel Preferred 100 68 Russell <fe Erwin 28th cfc 29th Sts l8t58'90 JU2Hi 114 61 03 Gen 48 li»34....SeeStk Exch liist" Alliance Realty 25 105 100 Safety liTwenty-Th'd St stk 100 390 -100 Car Heat <fc Lt 100 175 182 la UnilKysSanFran 6'«eSlk Excli list 12 1. loo 12 la^ Seminole Mining Deb 58 1906 J-J 9t3 99 Wash Ry & El Co.. ..100 20I4 2038 HAllis-Chalniers 6 'a 1j Preferred 61 ! 100 69 Singer Mfg Co Union Kylst 58 1942 F-A 109 112 100 560' 600 Preferred 100 76^, 77 IJAmer Bank Note Co- 50 155 57 Standard Coupler comlOO We8tche8tl8t58'43J-J 104 100 8' •18 1951 J.D SS"-! 835e American Can com. 61* ..loo Preferred 61a 100 110 125 HWest Clii&igoSt 100 61 Prelerred 47 14 4734 Standard Milling Co. 100 100 9 TJCon B 5s 1936 BHOOKiiTN M-N 5 80 85 American Chicle Co.. loo 102 105 Preferred 100 291a 30' tiaa Securitiett Preferred 92 100 Allan Ave 58 1909. .A-O J102 95 6s 79 81 American Elevated "4 Con 58 g 1931 A-O 110 113 OU of N J. .100 647 649 NEW YOEK Am MaltingOs 19U.J-D 1031., IO4I3 Standard Impt 5s Hee Stock Exc li list Storage Power r 14 t 50 Cent Union Gas 1st 58.. 5108 110 B B <fc E 53 1933. .A-U 102 104 Con Gas (N Y)8lk. See St k Exc h list Amer Press Assoc'n.lOO 85 100 Swift & Co See Boston St k Exc h'g« Amer Shipbuilding.. .100 37 Brooklyn City stock... lu 238 241 39 Ist 5s 1910-1914. ...JJ 51013^ 102 Conv deb 6m ctfs iveStk Exch list Preferred 1 00 Con 58 See Stock Exc)i list 943e Tennessee Copper 33 25 r 32 EquilGa8 0on5sl932 See Stk E X list Am Soda Foun com.'ioo 2 BkluCrosstu 58 1908. J J 102 4 llTexascfc Pacitic Coal 100 75 90 IIMutual Gas 100 290 310 Isl pref erred 67 100 BkuHgtslstos 1941 A-O 104 106 New Amslerilani Gas— 72 Ist 6s 1908 5105 110 A-O 2d preferred 11 loo 14 Bklny Co<fc Sub iee Stk Exch list Title Guar <fc Trust ...100 550 560 Isl consol 58 1948. .J-J 510914 110 American Surety 50 165 Bklyu Hap Tran See Stk Exch list 170 Title Ins Co of N Y..100 155 160 N Y G El, H JtP aee Slock Exch llHt Amer Tobacco (old).. 250 50 l8. 500 DCouey <fc Bklyn ..100 Tonapah 340 350 (Nevada). 1 10 N Y dt East Kiver Gas— 9"t. Preferred nee Stock Exch list l8t cons g 48 1948. -J -J 100>j 101 TreutouPotteriescomlOO 12 15 Ist OS 1944 J.J 5111ii 114 Amer Tobacco (new) Brk C <fc N OS 1939. J-J 113 116 Preferred new 82 f7 100 Cousol 58 1945 J-J 107 110 l^omiiiou («' 1) 225 GrSUfcNew Istus'OGF-A 100 Trow Directory new. . 1 Oo! 65 75 N Y & Riclimond Gas.lOO 35 Preferred (wi) 8834 89 Gr'pl ifeLorinier St 1st 6» 104 Union Copper "* lo|t Nor Uu Isl Ss 1927. M-N 5 104 Hi 1061a „ 4s (wl) 64 la 643, Union Typewr com..lOO| Kings Co. Elevated— 80 82 listamlard Gas com ..loo 130 150 6s (wi) lo7>< 108 Ist 48 1949 See Stock Excli list 1 St preferred 112 1 00 lii'reforred 100 155 170 Am Typefo'rs com...ib6 30 >iassau Elec pref 2(1 preferreil 100 75 ]oo 107 Vio Ist 08 1930 il-N 51101s 1121a Preferred loo 89 58 1944 UnilBoxboard& Pap. 100 A-O 110 113 1 Amer Writing Paper. 100 3*^ Isl 4s 1951 3'( Prelerred See St k Exc li list 1 00 11 OTHEB CITIES Preferred 100 18 N Wb'g<feFlatl8tex4'-28 101 10^ 19 U S Cotton Duck 4 100 5 58 1919 JJ 78 79*5 U S Envelope com... 100 Steiuway Isl lis 1922.J-J HIS 20 Amer Llglit A Tract. 100 63 >9 65 llBarney <fe Sm Car ...100 19 li Preferred 73 77 1 00 Prelerred 100 97 981a 100 1| Preferred US U S Realiyife Imp See Sfk Exch list Bay suite Gas OTIIKR CITIES 50 Bliss Company com 50 130 150 12 U S Shipbuilding (w 1).. 14 Biuifliamtoii Gns 58 1938i 94 97 Preferred 50 130 145 ButSalo Street KyPreterreil (w i^ 65 70 Biouklyn Union (+a8 deb Bond* iMtgGunr 100 480 510 lst consol 5s 1931.. F-A J112 5 certifs 32 <a 33 113 68 1909 conv M-S 196 197 Borden's Cond Milk., loo l-'2 Deb 6.S 1917 U S Steel Corp new 53 See Stk K X list A.O 111534 1 0? \ Bulliilo City Gas'07... StocklOO 4 5 Preferred 100 112 Chicago City l{y stk. 100 175 114 Col trs 158 '51 opt '11 .. 5111 112 178 Ist 58 1917 {iee Stock Exch list Camden Land ;; Chic UuiouTrac.SeeSl'ck Exch hst Col tr a 158 '51 not opt.. 111 112 Chicago Gas See N Y Slk Exch list 117" IK'S Universal Fire Exi'r. 100 Celluloid Co lOo Clevelaud Eleclr Ky.loo 6 7 74 75 Consol G!i-s of N J 100 Cent Fireworks com. loo 14 18 Columbus (O) SI Ky..lOO Universal Tobacco. ..100 1 95 07 Isl 58 193G .'.JJ i92 Preferred 100 57 Prelerred 63 Preferred 100 loo 108 6 Consumers' L H <& Pow— Central Fouudry 100 13, Colum Hy con Ss See Pli ila list 2 Westchester & Bronx 58 1938 II 5110 J. Preferred 13 100 Crosst'wn lsl5s'33.J-D {108 14 Title <fc Mort Guar Co. 130 150 TiUetroit City (^as.. 50 t Deb 6s 1919 op '01 M-N 59 Cirauu Kapi(l3 Uy 60 Westingh Air Brake. .50 tl30 loo 55 66 Elizabeth Gas l.t Co.. loo 220 Century Realty uml 105 Preferred 115 White Knob Mining. 1() loo 88 Essex & Hudson liiis 100 114 Cliesebrouifh Mfg Co 100 420 Worthing Pump pref. 100 121 126 Buyer i,.vys accrued interesu t Price per suare. « ; ^aie price, a Ex right.s. xEx div, '„ SeUs on Stock Exchange, but not a very active seoarlty. Dry D E B & B— I I list }108 5113 5100 5101 250 109 17 78 107 5102 5111 5109 5104 12 {122 5100 99 \ m N Am W . W Mm ; 1 ... . .. . . THE CHRONICLE. Oct. 22, 1904.] 1695 Inwstmettt un& ^ailr0ad luMIigence. RAILROAD GROSS EARNINGS. shows the gross earnings of every Steam railroad from which regular weekly or monthly returns jan be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two columns the earnings for the period from .July I to and including sucli 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 Jftly, but covers some other The returns of the street railivays are brought together separaieiu on a subsequent page. period. The following table Latest Gross Earnings ROADS Current Year Week o-r Month Previous Year July 1 to Latest Current Year l3t wkOct Ala<te Vicksb'g VicUsb Sb & P. Allegheny Valley BOADS Week or 53,938 830,611 Previous Year Year 201,883 113.94^ 118,176 199,241 99,681 579,795 312,783 325,266 - 413,621 8.101 8,111 135,007 191,512 174,980 20,48 2,323 3,832 7,250,540 7,056,151 702,570 6f30,890 211,510 218.104 1,961,58 1,927,290 919.236 919,036 4,680,106 4,611,213 19.547 20,228 614,740 567,353 . , Atl Coast Line... August.... 1.453,99ri 1,359,539 2,929,083 2,775,254 16,215 16,215 13,603 13,003 Bait ife Ann SI... July September 6,048,760 6,028.069 17,193,654 17,881,984 BaltA Ohio 481.983 144,724 205,09 217,021 26,918 116,692 September Dec. 142,862 Oec. August 33,404 571.926 34,8ri9 2d wk Oci 5,444,334 5,594,733 10,187.170 10,981,325 N Y C & Hud Riv September Atch Top & S Fe. August 317,285 260,262 N Y Out & West. August... 317,285 260,262 Atlanta & Thar.. July 55,890 N Y Susq & West August... Atlantic <feBtr... June Ann Arbor $ S Mo Kan & Texas 2d wk Oct Mob Jack & K C. Wk Oct 603,626 .Mobile <te Ohio... 2d wk Oct 271.254 Nash Oh & StL.. 2d wk Oct 319,010 INat'lRRof Mex 2d wk Oct 279.251 Ne,v-Cal-Oregon. September 000,954 .V e vada Central August. 815,862 Juiv I Current Month S 53,363 I'iicilic, NO & No East. September September OrOSS Jiarninys Latest i Previous Year S Ala Gt Southern Ala JM () <fe Texas- Date to Current Year Latest Dnt Previous Year 9 5,751,702 5,180 008 124.198 97, 419 2,243,046 2,133, 951 2,950,935 2.852, 444 3,121,235 3,1.58. 407 65,27^ 57, 177 4,069 6, 725 21,015.42 20,998, 245 1,349,376 1,364 087 391,771 482, 820 3,771,158 3.870, 814 1,757.551 1.842, 051 13,122.665 12,938 588 37,688 37, 813 1,215,505 1,127, 716 19,780,993 22.036 ,093 Dec. 05 9,4'_)0 <fe West'n August... .Vorthern Central August... North'n Pacltic.. September 329,828 328.974 Ohio Riv& West.. August... 176,010 166,368 £auKor & Ai'oosi August 6,421 10,682 4,770 17,957 Pacllic Coast Co. August „. Belief onte Ceut'i September 9 215 4,171 9,226 ePenn—EastP&E August 4,818 10299890 11041290 Bridgt ASaoo K. August 2,497.721 160,360 2,463!339 JJib. 33 0,200 163,622 wk Oct eWestP&E.... August. Butt Koch & .^i:t!s d 76.722 176,55 157,225 Pere Marquette.. 2d wk Oct 283.163 230,971 3,885,97: 3.509, 726 96,241 Bultalo (feSusq... August 74,100 1,068,800 922,700 PhilaBali&Wsh August.. 88,700 1.249,127 1,195,127 2.417,505 2,34i: 805 Canadian North. "d wk Oci 769.511 August. 780,104 1,489,050 1.550 126 Canadian Pacllic 'Jd wk Oct 1.031,000 1,026,000 15,132,071 14,018.500 Phila <k Erie.. Cent'lof Georgia lid wk Oct 249,200 208,300 2,876.049 2,000,245 Pittsb C C & St L September 2,140,584 2,232,723 6,133,524 6,619, ,318 1,979.575 1,983,260 3.901,230 3,869,847 Raleish&O Fear Seiitomber 11,565 3,63 Cent'lotN Jersey August 1.135 41.695 2,430 32,301 Reading Railway August 2.954,758 3,072,882 5,616,196 6.204 ,302 Chattau South'n. 2d wk Oct 1,819,781 1,645,291 3,491,284 3.210.060 Coal&IrOo.... Augusc... 2,281,211 2,850,949 1,619,150 5,876 ,517 Chesap & Ohio... August 1,193.064 1,047.160 2,140,204 2,000.073 Total Both Cos. August... 5,235,969 5,923.831 10,235.346 12,080 ,849 Chic & Alton Ry. August 231 ,700 238,929 110,940 107.442 ChloGt Western. 2d wk Oct 166,02-5 166.811 2.162.201 2,491,320 Ricli Fi-'ksb & P August 42,932 59 ,957 42,932 50,957 Chic lud itL'v... 2d 'Wk Oct 113,559 110.188 1.705.632 1.092.308 Rio Grande Jet.. Jmy 151 ,197 4,205,054 4,178,541 8,207.274 8,337.004 Kio Grande So... 2d wk Oct 131.703 9.486 8,116 ChicMilw (teStP August 14,940,714 14,743,479 5,133,331 S,351 ,041 September 5,386,624 August.. 3.896,814 6,930,812 4,413,261 North Rooklsl'dCo Chic & 226,84' 231 ,140 977,702 1,015,677 1,825,523 1.907,549 St Joa (teOr 1 August.. 135,052 1 19.268 <feO. August .. Chic St 33,342 464,000 48S.3'.>3 St L & San Fran 32,204 August. 3.412.431 3,197.932 6,195,93^ 6,083 ,159 Culo Term Tr K» 2a wk Oct 140,14' 126.212 1,963.252 1,884,205 St Ij Southwest 2d wk Oct 192.680 163,619 2,513,033 2,090 ,511 Oln N O & T Fac. ISt WK Oci 649 ,541 918.51( 2,126,098 2,001,296 3.^90,182 3,861,550 StL Vau&TH.. September 350,573 224.409 CI Ciu Ch & 8t L. August 4*6 ,481 493,842 481,837 San Fraji (teN P.. ::feptember 497.550 169,069 Peoria* liast'i August ... 260,127 258.561 135,532 137.790 1,758,004 1.945,886 Seaboard Air L.. 2(1 wkSept 235,282 229,995 2,487,719 2.408, ,983 125,490 Colorado <» Houtl 2d WJI Oct 322 ,557 15,973 17,357 31,884 33,820 Southern Ind 346,611 Col New b & Lau. August ... Septeuibei* 119,917 109.167 55,760 55.760 So Pacific Co b... August 56,490 56,490 Copper Range... July 7,779.376 7.908.707 14,909,935 15.632 ,891 August 5,S75 9,969 11,910 20,271 Southern Rallw'y 2d wk Oct 987,333 924,370 13,937,185 13,053 ,947 Cornwall 20,688 29,410 38,088 63.733 TerreH&Ind... September 215,827 554 ,115 579,988 Cornwall .fcLeb.. August 192.271 166, ,161 170,365 Denv. & Rio Gr. 2d wk Oat 358,700 348,800 4,962,615 5,431.394 Terre H&Peor.. September 53,526 62.572 79,686 170,780 163,517 Texas Central ... 2d wk Oct 220,742 177, ,50S 90,343 Det & Mackinac. August .. 19,500 17,367 512,659 Texas <te Pacilic.. 2d wk Oct 266,149 235.381 3,164,770 3,058, ,55,S Detroit Southern 2d wk Oct 31,993 33,733 425,680 DulSoSh&Atl.. 2d wk Oct 54,458 809.004 885,044 TexS 34, ,100 49,878 38,400 W .. Septembei 15,400 13,200 August Erie 4,103,880 4.455.601 8,034,325 8,883,852 Tol & Ohio Cent 2d wk Oct 78,580 71,874 1,275,11b 1,172 ,525 384, F'rchild & N'r'e'i August... 2,866 3,067 5,590 5,786 TolP&West .... 2d wk Oct 389,623 24,885 24,794 9(;8, 018 Farmv & Powhat July 7,987 6,067 7,987 6,067 TolStL&W 2d wk Oct 77,797 62,936 1,126.149 522,055 Tor Ham &Butt. 4tbwkSei)t 160,37'; li.o, 785 Ft Wife Denv City August... 191,373 259.118 383,046 15.387 14,648 August... Georgia RR 193.666 178,248 308.222 354.850 (Jn Pac System .. August.. 4,812.090 4,535.082 9,477.691 9,123, 840 lis, 408,562 Virtpnia&So vV'n AUi'Ust 943 Ga South & Fia.. September 140,879 130,581 407,523 97,523 50,832 58,023 Gila ValG A; N.. July.. 41,120 41,120 Wabash 2d wk Oct 584,831 498,7(>0 8.315,142 7,362, 285 Gr Xrunli Sj-Bteni 2,1 wk Oct 704,058 726,071 10,707,104 11,081 ,841 691,450 741,750 1,301,031 1,321), 831 Jersey .S; Sea f August. GrTr. West'n 1st wk Oct 122,942 124,271 1,277,407 1,491: ,809 Wheel til 90,870 87,714 1 ,332.000 1,417, 385 d wk Oct DetGr H&M. lat wk on 27,471 29.841 388: ,374 Wui'sportiteN.Br. Augu- 1. 454,017 37, 284 18.204 30,311 18.832 Great Northern. Soptembfci 3,701,674 4.017,(;20 10,645.823 11,018 ,185 Wisconsin Cent.. d wk Ooi 110,000 133,533 2,063.463 2.103, 851 JVlontauu Cent'l Septemboi 196,120 181,524 22,008 562,578 55s ,400 Wrii^htsv <Sc T'n.. August 24.051 12.530 11.203 Total system. September 3,897,794 4,199.144 11,208,401 11,576 ,645 Yazoo ife Miss. V. September 639.135 582, U( ].741,52e 1.640.893 GuimShipIslaud Ist wk Oof 42,544 508 ,759 41,585 500,101 Previous Current Uooklnjt Valley. 2d wk Oct 125,038 124,428 1.978.100 1,992, ,046 VARIOUS FISCAL YEARS Period Year Year Illinois Central. September 4,228,835 4,003,963 12,248.227 11,797 ,26o Illinois SoutherE September 24,002 16,022 74,420 44 ,045 Allegheny Valley Vcc. .f 50 3.615 Aug. Jan. Ind 111 & Iowa August 129.835 122,469 243 ,987 Atlanta & Charl Air Line 248,350 July Mar. $1 ,406,799 *1,321, 759 Int & GtNortli'i) 2d wk Oci 145,893 141,032 1,760,802 1,664 ,831 Atlantic & Birmingham 398,728 .fune Dec. tlnt«roo(Mex).. WkOct 1 55 ,083 111,300 107,150 1.417,970 1,357 ,930 Bellcfoute Central 40.137 Sept. Jan. Iowa Central... 2d wk Oct 7,564 ,567 Chic 58,969 700 ,671 St P Minn ,805.559 46,957 73S.227 & Omaha Aug. Jan. Kauawba &, Miob 2d wk Oct 33.969 484 ,924 International & (it North'n Jan. 29.623 521,526 ,106,239 4,216 ,791 Oct. Kan City South'u August.. 520,672 511,370 995.971 1,011 ,302 Lake Erie & AV'csteru ,671.(!1 1 3,891 ,362 Sept. Jan. LakeErie&Westn September 464,373 487,770 1,346,385 1,443 ,617 Manistee & North Eastern.. Jan. 217 ,678 250.043 JvUy Lehigh Val RR.. August.... 2,410,317 2,754,704 4,966.863 5,483 ,935 Maiiistique 55 ,046 62,721 Sept. JilU. Lexlug <fe Kaat'u. August .. 163 ,457 39,890 104 ,145 Maryland & fennsjlvauia.. Mar. 53,413 155,677 78,249 Aug. Long Inland August ,242 hlC. 51,871 4,800 .Mexican International .. .. Jan. X>ec. 43. 802 ,632,884 Aug. Louisiana & Ark. August 67,603 108 ,869 ; Mexican Railway 54,307 126,001 ,481.700 4,105, !200 Oct. Jan. Loulsv Hen&St L June 763, ,271 883.128 808, ,547 {Mexican Southern 895,970 Sept. Jau. Loulsv & Nanliv. ^d wk Oct 779,070 727",60'5 10,749,969 10,627 ,529 Missouri Pacllic ,258.231 32.311 ,963 Oct. Jan. Macon & Blrm... September Central Branch 11,761 ,337.000 1.135 ,000 9,884 32,413 31, ,758 Oct. J.in. Maa'tee<& Gr. liii p August Total 8,809 18 ,664 ,595,231 33,346, ,963 9,786 16,117 Oct. Ian. Manis & No Koai July 34,332 29,686 34,332 29, XiSIJ '.National RRof Mexico ,020,703 8.905, ,780 Jan. Oct. 2,'> .360 Manlstique September 7.894 Northern Central 8,638 ,636.045 6.882, ,245 26.759 Aug. Jan. Maryl'd tfe Penn.. August... 30,780 (>0 >31 cPennsy. East of P & E 32,201 55,615 ,476.069 82,191, 969 Aug. Jan. (Mexican Cent'l.. August eWe.'stot 2,089,896 2,052,815 4,066,710 4.055, 057 Dev. 2.0 34.400 E Aug. Jau. J Mexican litem. August 550,471 536,801 1,121.277 1.079, (>M9 Peru Marquette ,218.535 8,800, ,754 Oct. Jan. (Mexican Ry Wk Oct 1 112,500 100.700 1,442.800 1,305 ,700 Phila Baltimore & Wash ,990,210 8.965, 816 Aug. Jan. j Mexican 8oulh'L IthwkSept 31,054 26,132 273,112 251, ,537 Philadelphia & Erie ,959,722 5.104, 432 Aug. Jan. Millen & So'w'u. Aukust 711 Pitts Ciu Chic & St Louis 6,949 12,685 ,751.083 18,50(», 162 3,953 Sept. ,Iaii. Mineral Range.. d wk Oct 367, 039 12,737 166! 958 Rio Grande J unction 11,068 195.207 350.819 Dec. Jmy Miuueap <te 8t L. 2d wk Oct 72,623 911, 3.)1 St L Vandaiia & Terro 11 ... Nov. 642.132 2,23^', (i09 70,563 910.137 Sept M8t P dc H St M. 2d wk Oct 205,083 170,218 2,421.083 2,173, ,239 Terre Haute & Indiauap ,911.578 1,821, 4W5 Sciit. Nov. ..68, 709 MoPHc&IronMi 2d wk Oct 874.000 818,000 12,704,610 12,690, 481 Terre Haute & Peoria 578,035 Sriit. Nov. Central Branch 2d wk Oct 31,000 001.568 8,(i44, 080 39,000 532.000 533, 000 Texas & Pacilic Oct. Jan. Total 2d wk Oct 905,000 857,000 13,236,610 13,223, 481 West Jersey & Seasliorc 077.083 3,051. 683 Aug. Jan. Norfolk . PM W (J .'. . V&N . W LE . , AGCaKGAXUS OF OKOSS WBEKLT SUMMARIES Current Year PreviotisY'ar r (49 roads). (45 roads). (4(; roads). (4(i roads) (4(; roads). (52 roads) (50 roads) (•')0 roads). (49 roads). (51 roads). (46 roads) (42 roads). Inc. or Dec. P& KAItN IIVOS— \reekly and MONTHLY.SUMMABIBS ITIontrilr. Current Year Previous V ar r.c- •$ 8,414,620 11.61 1,72^ 8,299,353 8,484,122 «, 007,235 14,017,039 8,934,369 9.598,364 9,677,980 12,845,791 9,273.472 9,295,548 8.546, 634 12.140, 131 8,188, 5(!8 8,357, ,622 8,477, *'39 12,810, 025 8.563, 783 9.017, 197 8,928, 593 12.280. 423 8,708, 991 8,673, 547 -132,014 M. nth Sept. 1 I 1 +565,3(>»- 4-6(1 + 504,481 + 622,001 !? $ 1^3.019. 2!^0 +14,55.-). 156 1093 ;39.212.377 +11,252.059 8-OS 135,195.056 +5.727.777 4-24 1 131.146,421 +5.405.413 4' 121, 307, ,020 127.083.582 -5.776.5(i2 I ' I -51 1 ^n>.^ (1S.'> nis Moutli Oct. 1903 (130 rds.) 4110,785 :;.-. Month Nov. HI03 (129 rds.) + 120,500 -5 Mouth Dec. I<I03 (I j.-< rd<(.) + 129.396 1 -5.3 Month Jail. 1 904 (127 rds.) + 1,207.014 9-12 Month Feb. IDOI (129 rds.) + 370,586 4-33 Month Mar. 1904 (Iv5 rds.) iMonth Apr. 1904 (127 rds.) + 581.107 4 + 749,387 8-3it Month Miiy 1901 (12sr,|p.) I -52.><,407 1-35 0-48 7-17 Month June litOt (lOH Month July 1904 (125 Month Aug. 1904 (122 ) P.O. Inc. or Dec. 147 1 1 ,''#3»> 50, 101 ,430 10 !»22 ,833 36, 55 ,834 I '.i I ."..-. 11><, 4 15, ,MS«» 133, 218 ,21 li 1 |.'>.4 >8,sl'" 133.29 i,034 +2,9l»7.t',4 2Mi — 7.i.-'2:; C' » 8 32, 133, ,290 !3(!,7s:{,iy<i 130, 935, ((13 134,6(<(i.386 3 1 -4,3 —3,721.773 2"-7 491 1I4.2S0.175 621 139.712,599 493 144,558,473 5 3."> +734,0'20|0-.jI 1 rds.) 113, 351, 42, rds.) 13 rds.) 145, 292, JH.-^ 4)i — 928.(i-<4 — 7,4()9,978 () SI .. .. . iwn THE CHRONICLE. Latest tiroHB EaminiirB bj Weeks.— In the table whioh follows we sum up separately the earnings for the Btcond we^k of October, The table covers 42 roads and ihows 7-17 per cnntlnorease In the aggregate over the same week last year, 2d vDtek of October. 1904. S fim\ f^T\\nr ... .... Sailalo Rooh. A Flttab'w 34,889 163.622 88,700 , Canadian Northern Oananiaii i-Hoino OenLrai oroeoriria 1,031,<K)( 249,20c 2.480 ObaUanooga Honthem.. Ohioajro wreat W©Bt«rn Ohio. Indlan'llA&boalsv Chlo. Term. Transfflr <b Kio Graude Detroit Southern Daluth 80. Shore & Atl. Gr'nd Tmnk of Canada > Grand I'rnnk West .. > 5,00(i 20H.300 40,900 1.136 166,81 1,34S &4,45i! 704,058 726,071 125.038 International Iowa Central 145,««;- 124,428 141,03i 46,967 29.623 727,605 Kanawha Ijoolevllie <Sz & & Gt.No. »8,98& Mlohl^an.. 33,(»B9 Kashvlile. 779,67( 12.7H' Mineral Ran«re A St. Loals MUm. St. P. & S. Ste. M.. Mo. KanBMK & Texas. .. Mo. Paclflo A Iron Mt.. Mlnneapoilfi 72,623 205,03481,9.S3 8'4.00C 3l.00( Central Branoli Mobile <fe Ohio Naehv. Char. A St. Lonlfc National RR. of Mexico.. Pere Marauette Rio Grande Sonihem. 8i. Loo IB South western. Southern Railway...... 144.721 :i0,'>.097 217,021 283.163 9,48t . Texas Central..... Texas* Paolflo Tjiedo & Ohio Ontral. Toledo Peoria A West'n Toledo St. L. Total (42 roads) Net increase (7*17 ., 22,013 6ir 4.86! 12.012 4.346 52,06.'' 1.669 2.060 31.866 68,36V 56,000 .... 9.71': 1,370 29.061 62,96:- 28.'5,38i 80,76f- 71,874 24.794 62,93f 6,70< 9,295,548 498,760 87,714 133,'i3,- 8,673,517 -.. 8,000 13.585 a.os.s 52,192 163,«iSJ c, p. 170.218 413,621 818,000 3 -.OuO 135.00 1^1,512 174,88^ 230,971 8,llt 1.740 4.580 924.37C 17,367 77,797 584,831 90.870 140,000 Whoellcg A Lak e Erie. Wleooneln Central „ 11,06{70,56:^ • >•- 2.19- 81 14,861 86,071 3.15t 6,467 674,57b 622,001 • «•» ••••r 52,577 For the first week of October our final statement covers 46 roads, and shows 6*48 per cent increase in the aggregate over the same weak last year. 1904. let wtelt of October. St Previously rep'd (39f'df 8,79(3,523 AJahsma Gt. Qoathern & Texas Fao. Ship Island Mob. Jackson & K. City. National RR. of Mexico. Bio Grande Southern... 58,363 140,14" 42,544 CIn. N. O. Gulf <k Texas Central ( o /ncreoj*. S 8,278,586 53,938 126.212 959 8,111 20,87;i 19,87. 177,705 7,880 14.974 9,273,47:' 8,708,9»1 627,701 564,481 ... 63,210 4,425 13,935 41.58ft 8.101 . Dtcrf.aae. * 58 1,1 47 198.578 9.339 - Total 46 roads) Net Inoreane (6-48 p 1903 10 1,459 4,903 63,220 JNei EaraiagB Mouthly to Latest Oates.—The following shows the press and net earnings to latest dates of all Steam railroads furnishing monthly statements. The compilation includes every road from which we can get returns of this character, and in that form is given once a month. Early returns are published from week to week, as soon as issued, but for the convenience of our readers all the roads making returns are brought together here in the week in which we publish our monthly article on net earnings say about the 20th of the month. — —Currc^U Gross ^artil)i(/n. Tern; Roads. — Xfl Eur)ihif/s. Previims Giifrenl I'ri-rious I'car. Yeitr Year. , $ $ Alabama Great Southern—See under Southern Ry. System below. Allegheny Valley. ..Aug. Dec. 142.862 Deo. 129,630 Jan. 1 to Aug. 31 Deo. 503,615 Deo. 692,579 Ann ArDor.b.. 190.498 Aug. 177,983 64,293 68,605 July 1 to Aug. 3i 331,808 362,679 103.540 99,277 Atoh.X.4 8. Fe.b.Aug. 5,444.334 5,594,733 tl,913,850 t2,lM.702 July 1 to Aug. 31 10.187,170 10,981,3.5 t3,270,739 t4,114,938 Atrta& Char.A.L.aJuly 260,262 317.2d5 76.787 79,090 Atlantic & Blr. RR a June 55.890 18,736 Deo. 1 to Jane 30 397.728 119,597 Atlant Coast L. a.. Aug. 1.453.996 1.3.=>9,539 314,101 306,859 July 1 to Aug. 3 1 2,9ii9,033 2,775,254 720,538 755,176 Baltimore & AnnapolU July Short Line. a 13,603 16,215 7,599 4,141 Salt. A OhloCo.b Sept. 6,04*^,760 6.028.069 2,518.461 2.409,763 17.193,6)4 17,881.984 6,761,686 7.164.776 July 1 to Sept oo 176.010 67,821 Bangor AAroosfb I- Aug. 166.368 63.858 329.823 328,974 117.011 117,686 July 1 to Aug. 3i Bellefonte Cenir'l tSept. 4.770 6,422 2,955 1,981 40,137 55,083 22,288 10,790 Jan. 1 to Sept. 3o 4,818 4.171 1,945 1,807 Brldgt. <t Saon R.i. Aug. 9,215 9,226 3,649 4,425 July 1 to Aug. oi 782.274 735.216 308.203 381.188 Bull R. & Plttbb.b.Aug. 741,260 1,384,411 1,469,659 565,137 July 1 to Aug. 31 96.241 76,722 24.969 Bafialo &. S'sque.a. Aug. 37,389 61,614 176.557 137,225 68,667 July 1 to Aug. 31 250.800 81.700 802,700 99,500 Canadian Northern. Aug. 505,600 190,600 170.900 606,600 July 1 to Aug. 3i Canadian Paolho.a Aug. 4,474,237 4,076,154 1,527,930 1.434,108 July 1 to Aug. 31.... 8,873,0 ,'1 8,073,498 2,977,582 2,752.680 . . — — — GroHH —Current Karniiigii. I'reriu-us , Tear. Year. Roads. $ $ 0«nt. ofQeorgla.a.Aug. July 1 to Aug. 31 Cent.ofN Jersey. b.Aug. July 1 to Aug. 31.... Ohalt'n'ga South. aAug. July 1 to Aug. 31.... Chcsap. & Ohio. b.. Aug. July I to Aug. 31.... OhlcagoA Alton.a Aug. July 1 to Aug. 31 .. Ohio. Gt.Weer'n.b. Aug. July 1 to Aug. 31 725,992 1,171,643 686,687 . .Vet Karningg.—^ Current Year. $ 170,200 361,687 I'reriouM Year. $ 86.238 204,784 934,801 1,76H,423 1,400,662 1,988,260 960, =^14 3,869,847 1,S90,386 10,841 5,168 2.318 20,580 11,349 2,721 1,645,291 744,155 600,574 3,216,666 1,359,540 1,203,874 1,047.166 484,367 355.868 2,000,073 770,017 702,027 730,741 222,129 188,108 1,411,423 305,511 3i<5.e72 Chlj.Ind.&Lonls.a Aug. 492,508 213.936 210.771 380,C0^ July 1 to Aug. a. 974,621 968,875 4(9,113 Ohio. M. ABt. P.a. Aug. 4,205,054 4,178.541 1,445,003 1,458.141 July 1 to Aug. ai.... 8,207,274 8,337,604 2,889,817 8,094,926 Ohlo.Ter.Transr.b.Aug. 133,112 141,296 43.63 7 58.758 266,996 281,817 88.733 July 1 to Aug. .a.... 118,755 Cln. New 1. & Ter. Pac— See under Southern Ry. System below. Ol.cnn.Ohl. ASt.L bAug. 2,126,098 2,001,296 708.497 587.661 July 1 to Aug. 31.... 3,890,162 3,861,550 1,226.798 1,115,205 260.127 PeorlaAKao'n .b Aug. 258.561 75,173 73,136 481,837 121,121 493,842 120,468 July 1 tc Aug. 3 1.... Oolor'do&Sonth.h.Aug. 490.749 653,719 dl48,809 dl51,066 974,129 1,094,417 d299,662 d334,020 July 1 to Aug. 3i 15,973 17,857 4,063 Oolum.Newb.<v L.b.Aug. 6.051 31,834 33,820 8,224 13,024 July 1 to Aug. 3 > 56.490 55,760 28,512 82,075 Copper Range a .. July 4.63"> 5,875 9.969 2,571 Aug. Oomwall.a 31.... 11,810 20,271 5.159 8,98i July 1 to Aug. 29,410 8,301 20,688 16,403 Cornwall ALeliftD.. Aug. 38,088 63,733 13.906 86,025 July 1 to Aug. 3. ... 575,691 627,021 Den.&RloG'd^ r....Aug. 1,424,977 1,609,202 July 1 to Aug. 3 1.... 2,746,615 3,128,594 1,119,916 1,222,285 90.343 79.686 35,261 26.662 Detroit & Mapk'o.aAug. 170,780 163.517 56,733 51,850 July 1 to Aug. 3 1 .. 268,930 113.316 237,229 91,407 Onl. So. 8h.& An.b.Aug. 584,219 178,624 474,137 212,598 July 1 to Aug. 31.... Erle.a Aug. 4,103,880 4,455.601 1,415,045 1.494.311 July 1 to Aug. 3 L.... 8,034,325 8,883,852 2,802.888 3,117,891 def.891 3,057 de(.330 2,866 Palrohlld&N. East. Aug. def.397 98 6,786 5,590 July 1 to Aug. 3 L def.498 6,037 1,410 Farmv.&Powh't'naJuly 7,987 Fonda Johnst * Qlov.b. 199,776 111,031 111,264 200,395 July 1 to Sept. 30.... 57,363 90,889 191,373 259,118 Ft.W.<hDen.Cny.bAug. 199,427 115,943 383,046 522,055 July 1 to Aug. 31 32.666 178,248 46,137 193.666 Aug. Georgia RR.a... 86,211 72,248 363,222 354,856 July 1 to Aug. 31 .. Georgia South. & Florida— See under Southern By. System below. 41,126 n 13,603 Gila Val.Qlobe&N.. July 856,504 851,557 Gr. Trunk of Can... Aug. 2,580,705 2,659.542 July 1 to Aug. 3i-... 5,099,119 6,306.91S 1,652,177 1,652,663 6,813 419,492 4,380 367,421 Or. Trunk West... Aug. 6,813 58,398 731.922 865,750 July 1 to Aug. 31 ... 121,176 59,371 42,825 159,621 Det.Gr. H.& Mll.Aug. 96,843 63,131 219,479 289,556 July 1 to Aug. 31. -. 57,285 153.713 44,337 159,080 Gtilf &Shipl8l...a.Aug. 76,961 117,221 305.536 800,861 July 1 to Aug. 31.... 270,630 239,482 584,167 603,478 aooklng Valley. a..Aug. 500,292 465,844 July 1 to Aug. bl.... 1,164,949 1,153,554 1,430.429 888,720 3,971.103 4,214,208 minols Central... 8. Aug. July 1 to Aug. 31.... 8,019,392 7,793,305 2,514,255 1,731,884 31.920 122.469 16,871 129,835 [nd. 111. & lowa.a Aug. 60.044 30,925 243,987 248.350 July 1 to Aug. 3i.... 202,615 r25.608 r47,143 208,337 Aug. I>w» Central. a r88.3,^9 397,373 ro3,223 401,723 July Ito Aug. 3l 26,998 36,258 151,959 164,791 CanawhaA Mich. H Aug. 51.414 42.370 291,153 309,609 July 1 to Aug. 3i.... 105.697 511,370 145.952 530,672 Kan.Olty South.a .Aug. 215,039 248.166 995,971 1,011,302 July I to Aug. 3i Lehigh Valley B Kb Aug. 2.410.317 2,754,704 si .000.865 al.264.804 4,966,863 6,483.»35 112,082,423 s3,44l,3S2 July 1 to Aug. 31 14,239 11,010 63.413 39,890 Lexing'n AEas'.t.. Aug. 26,681 22.775 78,249 104,145 July 1 to Aug. 3 1.... Inc. 10,647 lie 51.871 Aug. Longlslandb DdO. 24,075 Dec. 43,802 July 1 to Aug. 3i.... 17.188 25,521 64.367 67,603 Loois'na* Arkan.aAug. 29,692 45,773 108,869 126.001 July 1 to Aug. 31.... 841,970 Louisv.A Nasiiv.*. Aug. 3, '57.920 3,017,939 1,080,134 July 1 to Aug. 31..^ 6,017,759 6,042,171 1,990,260 1.730,579 def.ieO 650 8,S09 9,786 Manistee &Gr. Rap. Aug. 18.6i4 678 def.1,813 16,117 July 1 to Aug. bl.... 13,411 15,343 34.332 29.686 Manistee* No. E.a. July 101,721 87,274 217.678 250,643 Jan. 1 to July 31.... 388 3.828 7.894 8.638 Sept Manistlque.b 1,926 11,039 62,721 86,046 Jan. 1 to Sept 30.... 13.085 11,379 32,201 30,780 Maryland* Penn-. Aug. 54,063 43,076 163,467 155,677 Mar. 1 to Aug. 3i. .. 614.974 478.389 o Mexican Cent. e. Aug. 2,089,896 2.052,815 754, 3b6 July Ito Aug. 31.... 4,0u6,710 4.055,657 1,130,597 215,583 213,256 636,801 550,471 cMex. Interniii'l...Aug. Jan. Ito Aug. 31--.. 4,682,884 4,800,242 1,951,635 1,879,308 1,2H4 1,454 3,953 6,949 MUlen&Southw a .Aug. 2,670 2,505 12,685 7,711 July Ito Aug. 31 ... 10.714 19,969 68,280 60,068 Mineral Range. b... Aug. 18.036 31.781 113,23a 9'i,571 July 1 to Aug. 31... 253,816 265,058 vl02,030 Tll3,194 Minn.&St.Lonls a.Aug. 511,285 Vl88,912 vl99,693 500,660 July Ito Aug. oi 302.9.13 265.272 603,560 609,578 M.Bt.P.4 8. B. M.b.Aug. 569.566 569,440 July 1 to Aug. 31.... 1.251,057 1,193,292 351.982 432,975 Mo.Kan.&Texas.a.Aug. 1,630,822 1.439,663 765,587 598,836 July Ito Aug. 31.... 2.919,219 2,765,665 1,474,978 1,535.080 Mo. Pac. System. b.. Aug. 4,091,945 4,020,830 Jan. 1 to Aug. 31. ...27,795.231 27,744,963 7.176,241 8,861,297 9.430 17,028 40,973 28,222 Mob. Jacks iK.C.bAug. 32,351 21,880 80,314 59,157 July 1 to Aug. al.... Mobile & Ohio—See uuder Boatbern Ry. System below. . . 9,900 19z.«8i 24,8H.'S & West.... Wabash 183 2,629 1,138 12,294 987.33S 19.5«0 266,149 7>*,580 •••••>>• 1 49.878 ^ 1.485 3,26? 14,600 l,02f,00< HooMnK VaUey Det.Gr.Hav.A MUw. Dtereate. S S 33.404 160.360 74.100 81,99- 12?.,.19t> 858.70 . tnerease. 116,18^ 83,312 137.790 348,800 33,733 32,204 * Southern ... Colorado Denver 166,6^J118,55<' 1903. (Vol. Lxxix. . . 1,979,575 3,901,230 13,431 27,536 1.819.781 3,491,284 1,193.064 2,140,204 625,195 1,163,9.9 510,525 — > THE CHRONICLE. Oct. 22, 1904.] —Current Gross Earnings. — Previous , Tear. $ Roads. Tear. Net Earnings. Current Previous Year. , Year. $ 829.615 Pennsylvania— Lines directly operated JEast of Pitts.AE Aug. 10,299,890 11,041.290 4.113.662 3,961.662 JJan? 1 to Aug. 31... 76,476,669 82,191.969 22,371.356 25,210,468 Ino. 349,800 Deo. 336,200 Westof Pitts. &E. Aug. Deo. 767.200 Deo. 2,034.400 Jan. 1 to Aug. 31.... 443.226 391,726 Phll.Balt.AWash.bAug. 1,249,127 1.195,127 Jan. 1 to Aug. 31.... 8,990,216 8,965,816 2,288,920 2,430.820 351,663 305,536 780,104 769.511 Aug. Phlla.&Erle.b Jan, 1 to Aug. 31.... 4,969,722 6.164,432 1,690.500 1,670,350 698.432 670,496 Pitts. C.O.&St.L.a Sept 2,140.584 2,232,723 Jan. 1 to Sept 30.:.. 17,761,683 18,500,162 4,490,04,2 4,698,829 1,659 4,047 Raleigh AO.Fear.a Aug. 1.464 3,^37 Month of Sept 3,903 ... 11,565 July 1 to Sept 30.... Beading company— Phlla.&Read'g.b Aug. 2,954,758 3.072,882 July 1 to Aug. 31.... 5,616.196 6,204,302 Coal & Iron Co. b. Aug. 2,281.211 2,860,949 July 1 to Au«. 31.... 4,619,150 5,876,547 Total both Co. 'B.bAug. 8,235,969 5.923,831 July 1 to Aug. 31. ...10,235,346 12,080,849 Reading Co. b.... Aug. July 1 to Aug. 31.7. Total all Co.'sh.. Aug. July 1 to Aug. 31 107,442 110,940 RlOh. Fred. & Pot. Aug. 231,700 238,929 July 1 to Aug 31 C0.9f>7 42.932 RlO Grande Junot.. July 367,63) 350,819 Dec. 1 to July 31.... 49,106 35,536 RloOrandeBonth.l Aug. 97,822 71.023 July 1 to Aug. 31.... Rook Island Co.*. ..Aug. 3,896.814 4,413,261 July 1 to Aug. 31... 6,930.812 8,351,041 135,052 119,268 8!). Jos. (SGd.Isl.b.Aug. 234,140 226,847 July 1 to Aug. 31 ... — li. 714,139 1,356,120 168,336 SanFr. & K.Pao.a.Aug. 328,481 July 1 to Aug. 31.... 1,014,770 Seaboard Air Line a Aug. July 1 to Aug. ai.... 1,986,015 121,875 Southern Indlana.bAug. 226,727 July 1 to Aug. 31.... ISonth. Pao. Co.a. Aug. 7,779,376 July 1 to Aug. 31. ...14,909,935 Bonthern Rail way Syst Southern Haliw a Aug. 4.041,851 July 1 to Aug. 3 1... 7,757.668 668,209 MobUe AFOhlo.a..Aug. July 1 to Aug. 31.... 1,263,606 626.126 Cln.N.O.&T P.a.Aug. July 1 to Aug. ai.... 1,183.567 274,820 Ala. Gt South a.. Aug. 511,a59 July 1 to Aug. a 1.... 134,-52 Ga. South.* Fia.a Aug. 266,644 Joly 1 to Aug. 31.... 61,989 Texas Central. a. ...Aug. 101,992 July 1 to Aug. 31.... 387.995 Toledo A O.Cent.a. Aug. 753,305 July 1 to Aug. 31.... 121.555 est. b Sept Tol. Peoria 341,138 July 1 to Sept 30.... 364,332 Tol. St L. A West. .Aug. Union Pao. Systa.. Aug. 4,812,090 July 1 to Aug. 31.... 9.477,692 60,832 VlriclniaASo'thw.bAug. 97,523 July 1 to Aug. 31.... Aug. 2,480.785 Wabash. b July 1 to Aug. 3i.... 4,562,937 691,460 W.Jersey A 8t-»Hh.t Aug. Jan. 1 to Aug. 3i.... 8,077,083 397,136 Wheel. AL. Erie bAug. 746.680 July 1 to Aug. 31 ... 18,832 W'msp'rtANo.Br.aAug. 3i ... 36,311 July 1 to Aug. 602.094 Wisconsin Cenir'l. bAug. July 1 to Aug. 31... 1,180,863 StLoulsS'west.b. Aug. July 1 to Aug. 31.... — A Texas Central and its aubsldiary lines are included. These figures Include results on the Buffalo A Allegheny Valley -*<( Division In both years. n Expenditures for betterments in July were $1,487 and balance'of "mit net earnings for July was $12,116. r For August additional income is $7,826 this year, against $9,462 From July 1 to Aug. 31 additional income Is $13,150last year. -^ this year, against «14.319 last year. 8 Including other Income, total Income (exclusive of results of coal companies) for Aug. is $1,093,954 In 1904, against $1,312,863 In 1903, and for period from July 1 to Aaeust 31 Is $2,228,650 In 1904, against $2,538,154 in 1903. Deductions from total inoome for additions and Improvements were $117,591 In August, 1901. against $57,900 in 1903, and from July 1 to August 31 were $230,987 in 1904, against $106,990 in 1903. T For August additional inoome is $10,750 this year, against $16,860 last year. From July 1 to Aug. 31 additional income is $20,532 this year asjalnst $31,729 last year. X Includes $380 "other Income" for August this year, against $425 last year and for period July 1 to Aug. 31 $763 this year, against 8869 last year. amounted to $190,463,. t For August, 1904, taxes and rentals against $149,216, after deducting which net for August, 1904, was $1.72',386, against $3,002,486. From Jaly 1 to August 31, 1904^ net after deducting axes and rentals is $2,884,169 this year, against $3,776,756 last year. Interest Charges and Sarplns.—The following roads, in addition to their gross and net earninas given in the foregoing, also report charges for interest, &o., with the sarplu& above or deficit below these charges. Int., Rentals, etc, ^Bal.of Net Earn'gs.—r Roads. Ann Arbor July /Atlantic Deo. 1 to Aug. 31.... A Blrm 1 to June June 30.... AW aNetuarningsaere K'veu areafterdeductlUK taxes. b «fti <inrisiiiit.i anr r /ivnii kr* uerorr dedaotinR taxes o These figures are In .Mexican currency, and are convertible into gold at the current rate of exchange. „ ,„„ . ,nnA dNet. after deducting taxes 18*128.432 and $122,537 for 1904 and 1903 respectively lor August and $269,898 and $284,434 for period from July 1 to Aug. 31. Bangor . Current Previous Current Tear. Tear. Tear. $ Aug. Jan. 1 to Sept. 80.... Brldgt. A Saco Rlv.Aug. July 1 to Aug. 31 Buffalo AS'squeh.. Aug. July 1 to Aug. 31.... 8,764,006 1,225,783 1,171,334 7,848,737 2,142,827 2.071,582 138,142 214.618 693,143 311.839 347,612 1,221.996 127.661 161,841 542,628 265.089 291,310 1.177,516 65,894 56,9^3 258,822 121,152 83.000 502,371 30,048 27.472 133.474 64,444 61,194 277,981 3,118 13,824 43,088 16,649 def.5.174 77.231 98.613 144.489 368,459 198,752 273.996 688.304 27,697 32,258 113.834 83,554 76,413 336,720 100,884 127,811 303.652 4,536,682 2.209,713 1.940.005 9,123,840 4,432.096 4,065.441 9,423 28,790 68,023 80.729 39,705 118.943 671,232 705.795 2,121,424 4,121,580 1,198,301 1,261.502 366,161 365,661 744.750 849,465 887,055 3.051,683 122,199 91.814 402,832 248,295 177,916 827,871 6,080 18,264 ,^'\^l 11.958 10,648 37,281, 246,326 243.907 618,639 474,542 475,592 1,243,950 2,363 49j xll.203 xl2.530 Wrlghtsv.ATenn bAug. 2,348 6,009 X2l,056 x22.668 July 1 to Aug. ai.... 39,8»1 103.601 581.646 660.814 Ya80o*M18S.V»1.« Aug. 78,129 135.209 July 1 to Aug. 31..-. 1,102,390 1,064,783 — , 758,730 1,369,418 1,637,960 2,618,862 3,402.120 115.355 115,395 235.426 234,193 1.484,773 1,753,355 2,853,060 3,637,546 34.719 27,420 71,610 75,262 f 15,287 f 12,879 f 105,245 f 110,291 25,371 14,058 51.507 28,668 1,399.516 1,785,153 2,163,693 2,996,243 21.815 42,342 44,298 60,430 3,197,932 1,369,187 1,161,705 6,083,169 2,231,906 2,175,161 180.098 241.802 688,490 325,421 428,043 1,142,026 81,031 46,491 158.624 113,282 114.938 310.949 213,441 280,785 946,619 444.2d6 506.579 1,931,279 57,362 56,689 113,420 112,440 99,849 213,390 7,908,767 2,483,883 2,232.630 16,632,891 4,485,141 4,312,612 & Houston A Aroosi'k.Aug. July 1 to Aug. 31..., Bellefonte Central Sept 232,717 and Cnemavaoa t 1,312,817 2,643,390 326.143 1,297,967 2,386,145 71,451 A San Fr. (Inolud. Ohio. &E. 111). a.. Aug. 3,412,434 July 1 to Aug. 31.... 6,195,938 St. e Includes resolte on Monterey A Mexican Gulf PaclAo, Rio Verde Branch, etc. f Thirty per cent of gross earnings. 1 266,649 221.320 Wash. Ch.&8t.L..b..Aug. 609,935 1,639.090 471,169 July 1 to Aug. 31... 309,215 263,080 939,818 CBraflBR.of Mex..Aa«. 2,447,276 2,629.462 7,722.623 Jan. 1 to Aug. 31^.. 11.054 18.755 8,676 Hev.-Oal.-Oregon.aAug. 16,5i7 15,740 36,695 July ItoWsi.f.. 610 1,376 3,832 BrevadaCentral....Aug. deM47 1,690 6,725 July 1 to Aug. 3 1!?.. 289.141 233.838 680.890 H Y. Out.* We8t.aAu«. 534.196 482.228 1,364.087 31^.. July ItD Aug. 58,854 218.104 81,850 N.y.8u8. AWesl.a.Aug. 118.858 201.379 482.820 jSy ito Aug. 31.... 846,029 809.552 1.927,290 Norfolk* W«8t'n.b Aug. 8,870,814 1,549,776 1.629,957 July 1 to Aug. 31„.. 302,876 231,576 919,036 Northern Central bAug. 6,883.245 1,493,492 1,577,692 Jan. 1 to Aug. 3l!?.. 4,341 20.228 3,920 Ohio River & West. Aug. 8,381 9,138 37,813 July 1 to Aug. 31.T.. Paolflo aoast Company -See MlscellaneouB Companies. 888,761 1,693,728 916,057 7.720.563 22.564 38.359 2.323 4,069 702.570 1,349.376 211,510 391.771 1.961.587 3,771,158 919.236 6,636.045 19,547 87,888 1697 $ $ 26,871 63.728 12,966 64,883 45,757 93,301 26.845 70,931 48,651 95,162 305 433 2,745 3,897 548 505 1,086 15,675 31,350 1,012 12.330 24,702 ^[597.557 July 1 to Aug. 31. ...111,160,923 11496,036 11996.853 Olev.Cin.Ch.ASt.L Aug. 311,831 July 1 to Aug. 31.... 618,020 Peoria A East... Aug. 41,688 July 1 to Aug. 31.... 83,376 Copper Range July 8,437 Cornwall A Leban.. Aug. 4,024 July 1 to Aug. 31... 8,004 Den. AR. GranUe Aug. 843,998 July 1 to Aug. 3 L.... 689,822 Oul. So. Sh. A Atl.. Aug. 89.142 July 1 to Aug. 31.... 178,283 Fonda Johns. A Qlov. juiy 1 to Sept 30.... 72,212 Georgia RR Aug. a52,105 July 1 to Aug. 31.... al04,900 Gulf A Ship Isl Aug, 20,157 July 1 to Aug. 31.... 40,303 aocklng Valley.... Aug. 70,672 July 1 to Aug. 31.... 141,436 (ndlanalU.A la. Aug. 17,874 July 1 to Aug. 31.... 40,998 Loulsi'naA Arhan.Aug. 11,350 July 1 to Aug. 31.... 22,7t0 Maryland A Pen n.. Aug. 2,875 Mar. 1 to Aug. 31... 17,250 Mineral Range Aug. 9.446 July 1 to Aug. 31 ... 18,893 Mo. Kan. A Texas.. Aug. 350,014 July 1 to Aug. 31.... 701,632 Nastiv. Chat.ASt.L.Aug. 150,502 July 1 to Aug. 31.... 301,005 305,090 607.108 41,688 83,376 8,875 4,019 8,052 331.948 656,938 88,642 177.286 Cent ofN.Jer8eiy..Aug. *38,104 *51,12d 5,770 84,714 22,064 23.710 1.676 8.045 1.402 2,563 *37.450 *68.709 863,257 739,463 396,666 608,773 33,485 40,745 20,078 4,277 8,902 1234,225 t4S2,043 *3,052 *2.120 *45,844 72,212 a51 ,680 *def. 5,968 al03,360 *df.l7,777 19,206 38,415 80,999 164,100 17,833 '40,706 8,817 17,633 2,875 17.250 9,696 19,393 823,666 644,406 149,982 299,963 2,192 4,383 *24,802 *3e,000 *212,949 '384,061 14,046 19,046 *16,772 '28,376 8,504 25.825 *10.627 '13,093 82,961 63,955 116,046 Previous Tear. $ *42,632 *29,63& 15,207 22.524 8.522 18.389 1.302 3,413 *22,60O *46,332 438,765 772,669 282,871 508,097 31,447 37,093 26,200 12,388 27,974 t298,199 1613,339 *28,799 *37,144 *43,856 *dM 8,929 •def.673 *39.00(X *80,758 *158.488 *314,20y def.962 def.9,781 *9,79S *14,653 10,210 36.803 '1,220-def.970 28,326 df.45,569 74,338 171,206 208,930 «ev.-Oal.-Oregon...Aug. 2,163 8.891 6,48* July 1 to Aug. 31.... 4,825 12,232 11,356 N. Y. On t A West... Aug. g57,772 231,869 g64,572 169,260 July 1 to Aug. 31.... £115,450 si31,383 418,746 350,848 .Norfolk A West'n....Aug. 298.230 262,891 552,799 546,661 July 1 to Aug. 31.... 586,460 625,985 963,316 1,104.002 cieading— All companies.. ..Aug. 865,500 885.264 619,273 868,091 July 1 to Aug. 31 ... 1,731,000 1,770,523 1,122,060 1,867,018 SioQrandeJnnct..July 8,333 7,708 4,546 7,679 Dea 1 to July 31.... 64,166 61,666 41,079 48,685 aioQrande South. Aug. '7,543 17,833 17,838 *def.3.770 '18,211 July 1 to Aug. 31.... 36,244 36,244 •def.4,667 los.AGr. at. Isrd..Aug. 22,745 18,959 19,597 2,886 July 1 to Aug. :U.... 48,000 37,883 16,430 6,418 S*nPran.ANo. Pac.Aug. 27,047 26,012 19,444 86,019 July 1 to Aug. 31... 59,989 61,289 54,949 62,028 '84,814 *df.l7.501 Seaboard Air Line.. Aug. 247,697 831,034 '21,083 'df.ll, 639 July 1 to Aug. 31 ... 462.500 495,268 11,241 686 Texas Central 2.588 2,583 Aug. 11,383 deM0,840 July 1 to Aug. 31 5,166 5,166 '116,091 '60,148 Tjlerto AOhlo<>n..Aug. 36.585 38,478 '213,578 '120.658 78,853 75,075 July 1 to Aug. 31.... 23,(J07 23.008 9,251 4,689 ToL Peo. A Wesi...Scpt 7,346 14,529 69.067 69,024 July I to Sept 3o.... 42,389 58,498 69,891 Tol St L. A West.. Aug. 67,917 2,767 2,297 2,783 3.354 WmsportANo.Br.Aug. 5..")38 5,533 5,010 6,425 July 1 to Aug. bl.... '100,573 '100,944 145.848 146,333 Wisconsin Central.. Aug. '186,62* '186,266 295,024 294,710 July 1 to Aug. 31... * t After allowing for other Inoome received. inese ngnres are after allowing for other Inoome andfor dlsoount and exchange. The sum of $10,000 Is deducted everj month from surplus and placed to credit of Renewal Fund. — . .. . . .. . . THE CHRONICLE. 1G98 T Inolnded In the fixed aharKee In this flaoal year »re ezpendltnree for renewala, addUlons and Improvementa Amounting to $112,269 for AiifCQ"t, and to $163,260 for period Jaly 1 to AaK- 31. There were no oliar^es to thle acooant the prevloua year. a Charges here Inolade road-rental (paid by leasees) and other dedaotlons. K These are net oharges after allowlnK for other Income reoelved. MiBcellaneona Companies. — Gross IC arinni/s. — — , Previous Current I'reviotis Year. Year. Year. Year. $ Uas Co Aug. Oct 1 to Aug. 31 Onmberland Telephone & Telegraph Co Aug. 333,508 Apr. 1 to Aug. 31 1,688,720 EdlBon Eleo. Ilium. Co. of Brochton, Mass.. Aug. 8,165 Jan. 1 to Aug. 31 72,322 rail Blver Gas Works Aug. Oo 26,453 Jnly 1 to Aug. 31 52,154 Hongbton Gonnty Net Earnings. Current Oompanie$. Baffalo — 14.268 247,692 16,287 318,667 1,433,668 124,276 583,988 117.777 527,174 7,256 66,186 2,606 31,666 1,581 16,179 24,771 50,544 8,459 18,962 9,452 20,934 11.873 176,298 10,990 165,982 4,128 79,328 4,081 76,486 17,279 84,418 25,890 146,859 16,470 32,922 22,876 135.924 6,811 13,705 10,992 65,826 61,750 5.766 12,479 11,838 66,904 49,876 469,118 291,236 El. Lt. (HoDKhton, Mloh.)Aug. Sept 1 to Aug. 81 Lowell Eleotrlc Light Corporation Aug. Jiily 1 to Aug. 31 Mexican Tel'phone.Aug. Mar. 1 to Aug. 31 Mllwauk. OasL. Co.Scpt. Jan. 1 to Sept 30 Minneapolis Oen. Electric Oo..„ Aug. 637,657 18,121 39,728 128,686 39,144 43,519 78,059 86,541 567,353 614,740 1,215.505 1,127,716 July 1 to Aug. 31 Paoidc Coast Co..aAug. July 1 to Aug. 31 256,524 16,396 32,981 113.976 231,898 Pocahontas Collieries Company Latiut BroMB Obou BABITIHOa. Mamingt. »,. .,--»,/> Our'nt to iMUtt Date Ourrenl Prewxout Ytar. Jan. 1 Prev'wt Ytar. Lexington t Ry 35,629 A.ngnst.... lyOadonSt. Ry.(C»n.) Mad. (Wis.) Traction Met West Side Elev.. Mil. Elec Ry.&LtCo S'^ptemberj 20,250 Heplemberi 8,497 September 161.860 MBptember 379,852 Mll.LtHeatATr.Oo Seuteuber 48,615 Montreal Street Ry.. August... 236,245 Muncie Hartford A Ft Wayne August... Mask. Tr. A. Ll^ht. Oo. Street By. Depart.. August Eleotrlc Light Dep. August Gas Department... August New London St. Ry August Norfolk Ry. &, Lt Oo. Railway July City Gas Co July Ror.OhloTr.&LtOo September Northern Texas Trac. Northwestern Kiev.. Olean St. Railway... Orange Oo. Traction. September September Juoe September Peeks. L't'g <fe RR. Oo. Philadelphia Oo.and Affiliated Corpor's. Pittsburgh MoKeesport <fe Green sb'g.. Pottsv. Union Tract. Bys Co. Oen.— Roads. Light Go's July June • t t 85.835 214,381 201,188 19,&86 187.108 132.516 6,637 76.499 67,889 169,489 t, 543 962 1,525,094 271,515 2,364,794 2,335,597 321,437 43,059 34>',461 311,816 1,638,427 1.468.847 17,647 14,019 116,947 18.459 2,691 8.848 12,758 18.321 2,295 8,301 10,798 64,177 21,810 28,581 64.804 23,432 29,079 74,237 71,428 9,446 7,742 80,785 84,014 46,031 41,949 99,610 102,160 9.105 7.436 12.402 11,687 10,807 872,025 90,708 669.714 405,864 941,828 47.741 90,924 160.889 843,040 78,916 666,301 835,396 913.817 88.488 85.384 . 1,167,018 1310,8M 7.928.694 7.728.667 June 15,876 13,361 September 18.799 19,700 Septembar 33,592 29,164 September 2,229 1.905 Eloohester Railway .. August 137.369 119,304 Roch. &East Rap. Ry. August 24,732 Bookford Beloit & JanesvlUe St Joseph (Mo.) Ry. Lt. Heat & Pow. Oo. St. Lotus Transit Sao Paulo (BrazU) Tram. L't & Po. CX). Savannah September 12,878 11,826 68.644 153,918 258,867 18,158 984,699 65,967 148,817 241,450 17,214 838,474 98,288 101.687 September 59,816 49.906 September 1051,462 636,110 7.298,308 6.401.814 July 106,000 100.587 August 49,933 50,756 365.040 840,472 Soranton Kallwav... September 77,545 78,622 647,912 619.677 Seattle Electric Co. August 192,368 188.541 1,612.870 1,362,929 South Side Elevated. September 112,680 122,631 1,128,957 1,140,110 Springfl'd & Xenla Tr Wk.Octl6 1,028 1,089 Syracuse Rap.Tr.Ry. August 71.328 68,569 660,622 622,690 11,024 148,331 Aug. Jan. 1 to Aug. 3i Vol. Lxxix. Elect. Oo. . a Net earnings here given are after deducting taxes. Interest Charges and Surplus. , Int., lientals, etc. Jam. 1 to Atig. 31.... Tampa -Bal.ofXet Earn'gs.—^ Ciirrent Previous Previous Year. Year. Year. $ $ $ OompaniM. Oamberland Telephone & Teleg. Co Aug. Edison Eleo. Ilium. Oo. of Brockton, Mass. .Aug. Jan. 1 to Aug. 31.... Fall River Gas Worts Aug. Oo July 1 to Aug. 31.... Houghton County El. Lt. (Houghton, Mlch.)Aug. Sept 1 to Aug. 31.... Lowell Eleotrlc Light Corporation Aug. July 1 to Aug. 31.... Minneapolis Gen. ElecAug. tric Oo July 1 to Aug. 31.... Pocahontas Collieries Aug. Company — Current Year. 22,706 22.758 101,569 95.019 863 8,000 1,056 6.666 1,748 23,666 9,513 215 473 85 94 8.244 18.489 9,367 20,840 2,187 26.450 2.187 26,250 1.941 52,873 49,236 1.157 2,308 1,112 2,220 5,654 11,397 4,654 10,259 9,225 18,172 9,511 18,909 dl4,502 dll5,819 8,610 20,814 625 1.894 7,171 14,809 det.3,478 , 32,512 d Charges Include sinking f and and preferred dividend. Electric Co. August.... . 30,009 26.507 Lattti ero$$ Barningt Gbosb eabnihob. WtelcorMo Our'ni Year. A.ngUBt 34.980 9 Albany & Hudson . American R'ys. Co.||. Aur. Elgin & Chic. Ry Bingham ton Ry Boston* Worcester.. . A.ugn8t August August. .. Burllngt'n (Vt.) Trac. September Gas & Eleotrlc. Angust Cent. Penn. Tract... \ngU8t & Mil. Prev'ut Ov,rrei\t tear. Year. 9 3 192,442 31.N62 Elec. September 730,268 682,391 September September September 2d wk Got Ft Wayne & Wabash Valley Traction... % 178.836 344.804 194,636 598.780 391,486 10.415 46,289 23,156 86,417 Dnlnth Street Ry.... 2d wk Oct. 10,871 East St. Louis & Sub. September 131,478 Elgin Aurora &, Boiu August 41,893 . Year. 53,553 293,390 27,379 25,372 170,102 55,866 60', 124 6,630 "7',7Yo 526,661 327,656 2,500,054 53,199 50,201 353,827 53.712 40,921 324.277 62,863 67,036 588,640 47,581 49,983 372,440 September Chic. <b Oak ParK Oln. Davton <k Tol.Tr. ieDtember <fe Coving. Oln. NeVp. Light & Traction... July. 121,410 103,007 OltUens' Ry. & Light (Muscatine, Iowa).. 01eve.<b So.W.xr.Co.. Oleve. Palnsv. A E. Detroit United Ry..n PrtvWHt September 132,568 132,513 1,082,502 1,027,105 Cal. Chicago lun. X to Late.sn r\i t July 67,664 Geary Street Ry System (BuHalo)... August Augast Ithaoa Street Ry JaokBonville Eloo.Oo. August Kansas City Ry.&u. July Lake Shore Elec. By August Lehigh Val. Trac. Oo. August Street Ry. Uep Eleotrlc Light Uep. August . . . . 22,^37 '68,055 9.719 77,747 73.602 43.159 353,071 330,231 23,023 173,188 164.834 82,3»2 3,557,861 3,471.366 12.VI74 484,284 489,276 9-, 243 980,292 755,024 47,423 302,211 805,694 59,932 'eptember 14,867 Havana Eleo. Ry.Oo. Wk.Ootiei 30.6691 28,5961 Honolulu Rapid Tr. September 26,741 24,867 A Land Co 18,810 20,H70 HouRhton Co. St. By Aagust 82.4^6 76.161 Illinois Traction Oo. September Indianap. &EHat Ky. August.... Indlanap.&i Martinsville Rapid Tran.. 4.UgUBt Indlanapo~ile& North western Traction.. September Intemat'l Tract. Oo 16i,669 17,966 326.576 291,919 Toledo & Ind. Ry.... Toledo & Western.... Toronto Railway iwln Oity Rap. Tran. United of San Fran . Wash. Alex. & Mt. V August. . 9,152 7.389 "'.'.'.'.'.'. lii'gos' 22,974 46,020 42,553 1.895,307 1.685,322 2d wk Oct 79,198 79.297 3,366,692 3,176,675 August 552.234 *572,a08 4,299,368 4,039,880 Sep tember 23,350 21,321 182,642 173,674 7 oungs town-Sharon August 38.617 302.9051 August Wk.Oot.15 Grand Army of the Republic annual encampment Spanish silver. U These are results for properties owned. n These earnings Include the Detroit United By., Detroit A Port Suron Shore Line and the Sandwich Windsor A AniherBtbarg By. * t Street Ballway Net Earningrs.—The following table giyes and net earnings reoelved The last general summary which we furnish once this week. a month, and in which we bring together all the roads from which monthly returns can be prooured, was given Oct. 1, the next will be given Oct. 29, Xet Earnings.—^-^ G)'oss Earnings. the returns of Street railway gross —Cut-rent Roads. Cincinnati Dayton — 1,160.048 242,940 129.322 7H0,976 139,0 ; 7 20l,''24 128,620 675,r)08 94.545 13,674 434,03& 429.980 2.739,831 2,624,877 13,161 11,337 23.828 21,789 188,376 i«6',6V6 365,379 2,324,333 78,615 77,326 423,707 464,414 56,150 12,931 54,633 11.932 409,173 106..'>50 428,515 99.762 , Current Previoua Year. Year. Year. Tear, $ $ $ S 47,581 197.404 23,156 172.188 49,983 204,661 23,023 161,884 24.807 92,238 10,455 70,030 26.583 105,076 10,050 70,877 properties) .a Sept 178.216 421,937 411,812 187,332 Jan. 1 to Sept 30.... 3,387,228 3,301,050 1.312,523 1,356,572 Oaluth Street Ry.b.Sept 23.483 50.953 51,577 27,481 Jan. 1 to Sept 30... 461.893 466,261 215,594 208,219 Elmlra Water L'ht & RR It— (Street Bailway Department only, j JtUr 1 to Sept 30... 60,601 63,120 25,565 14,314 Honolulu Rapid Transit dcLand.b Sept Jan. 1 to Sept 30 26,741 242,949 201,724 10,962 94,306 12.025 89,873 199,048 82.496 700,976 23,828 lb8,375 180,367 76,161 676,508 21,789 160,010 92,429 41,944 305,304 10.131 76,696 76,644 38,870 242.434 41,467 19,137 20,250 137,108 8,497 76,499 40,111 19,094 19,536 132.516 6,537 67,889 17,751 7,471 9.480 42,947 3,864 33,986 19,419 7,792 9,328 48,467 Sept 151,361 Light Co..b 279,852 271,516 2,364,794 2,236,597 1,171,685 Jan. 1 to Sept 30 136.056 1,107,118 24,'^67 Hudson Valley Ry.b— July 1 to Sept 30..-. ni IlUnoia Trac. Co.Sept Jan. 1 to Sept 30 Jaoksonv. Elec. Oo.Aug. Jan- 1 to Aug. 31 Kingston ConsoUd'd b— July Ito Sept 30.... Lond.8t.Ry((!an.)aAug. of Sept Jan. 1 to Sept 30.... Tiadison Traction.. Sept Jan. 1 to Sept 30 Milwaukee Elec. Ry. A Milwaukee Light, Heat & 48.615 Traction Co b . . Sept 43.059 348,461 821.437 Jan. 1 to Sept 30.... New York A Queens Co.b222,696 195,808 Joly 1 to Sept 30 46,021 41,949 North. Tex. Tract. bSept 405,864 336.296 Jan. 1 to Sept 30 ... 12,402 11.687 Orange Oo. Tract. ..Sept 42,121 40,914 juiy 1 to Sept 30 160.i44 150.011 Toledo Rys.&L'ht.aSept Jan. Ito Sept 30.... 1,289,947 1.226,929 . 37,801 . Previous & To- ledo Traction. b... Sept June 1 to Sept 80 01ev.Painesv.AE...Sept Jan. Ito Sept 30... Detroit United Ry.n (all Month l,333,6ia', 198,499 August 54,426 46,255 368.494 296,112 ToLBowLGr.&So.Tr. July 24,134 26.402 148,459 160.112 Toledo Bys. & Light, September 160.344 150.011 1,289,94711,226,929 / STREET RAILWAYS AND TRACTION COMPANIES. 231,5091 Terre Haute Eleo.Co . . 7.651 63.428 1,117 26,262 30,046 182,574 23,517 161,885 121,200 3U,875 179,064 4.810 17,100 70,936 697,796 104,888 19,916 167,129 4.104 18,117 71,775 694,766 — Oct. J 1 THE CHRONICLE. 22, 1904.] — — Oross Earnings. Previous > , Net Earnings. Current rremUfUi , Current ^[^""iTo^sfptSO^r Year. Year. Year. $ $ $ $ 5.692 3.468 13.974 15.090 a Net earnings here given are after dednotlng taxes. bBTet earnings here given are before deducting taxes. The lUlnola Traction Co. Is a consolidation of Danville TTrbana St Champaign, Urbana <fe Champaign Ry. Gas & Electric Co., Danville St. By. & Light Co. and Decatur Ry. & Light Oo. n These earnings include the Detroit United By., Detroit & Port Huron Shore Line and the Sandwich Windsor «& Amherstburg Ry. m Interest Cbarges and Surplus. Int., < A etc. — ^Bal.ofNelJEam'gs.—. Cui-rent - Previous Year, Year. Year. Year. $ $ $ $ Roads. dnoinnati Dayton Rentals, Current Previous To- 16.000 8.477 10,588 16.380 Sept 64,291 26,187 40,786 66,051 Sept 30..-. Detroit United By. (all *100,091 84,208 "gs.SSS 89,802 Sept properties).. '639,777 '642.382 743,762 803,069 Jan. 1 to Sept 30.... 10,973 16,832 16,809 7,661 Duluth Street Ry... Sept 139,085 67,124 148,470 69,134 Jan. 1 to Sept 30.... Elmlra Water L'ht & RR. -(Street Railway Department only.) •13,508 '2,267 12,374 12,463 July 1 to Sept 30.... Honolulu Rapid Transit *6.759 3.212 '8,848 4,657 Sept ALand '56,427 '61,278 28,910 41,277 Jan. 1 to Sept 30.... ledo Traction June fReport for the fiscal year ending June SO, 1904. The remarks of Presideat Ramsey are given at considerable length on pages 1714 and 1715. The comparative statistics, compiled in the usual form for the Chronicle, were published in last week's Chronicle on page 1638, and an editorial on the results for the year will be found on a preceding page of this issue.—V. 79, p. 1638, 1024. Union Paciflo Ballroad. (^Report for the fiscal year ending 62,143 3.017 24,733 July 1 to Sept 30.... Jaoksonv. Eleo. Co.Aug. Jan. 1 to Aug. 31. Lond.Bt.Ry.(Can.)..Ang. Month of Sept Ught Co Sept Lt. Heat 18,137 2.378 2.865 17,901 2,340 2,432 def.336 5,093 6,915 1,668 6,462 6,796 79,153 677,943 75,285 649,165 '73.871 '505,041 '61,601 '467,400 J ; TBAVFIC statistics. 1903-04. 5,353 Av. miles of road oper. 1902-03. 5,762 1901-02. 5,711 1900-01. 5,686 Equipment— Locomotives Passenger oars Freight oars Road service oars 856 557 824 566 787 580 22,048 2,439 21,071 2.431 21,081 2.702 832 568 22,500 2,189 Passenger traffle— 3,768,914 3.398.659 3,118,862 No. of rev. pass, oarr'd 8,868.352 Pass, oarrled 1 mlle...487.134.976 449.363,410 400,482,595 Becepts of pass, trains. p.mlleofmalntraok. $2,529 $2,217 23 $2,026 $1,834 Reo'ts of pass, trains. p. rev. train mlle.(a) $1-48 $1-31 $1-31 $1*20 53-30 45-93 45-38 18,653 150,345 16,360 124,725 11.393 '32.602 8.157 "37.188 & Sept Jan. 1 to Sept 30..-. New York & Queens Co.— July 1 to Sept 30.... North. Texas Tract. Sept Jan. 1 to Sept 30. Orange Oo. Traction— July 1 to Sept 30.... Toledo Bys. &Lt... Sept Jan. 1 to Sept 3u. Troy & New England— July 1 to Sept 80.... sengers per train.... Freight traffic— 89-32 Tons commeroial freight carried...... 10.264.811 <& Jan. 1 to Sept 30.... Milwaukee Trao. Oo '13.442 4.538 29,629 SO, 1904 pages 1707 to 1714 is given the report of Mr. Alexander Millar, Secretary also the consolidated income aocount, consolidated balance sheet, and other tables, prepared under the direction of Mr. William Mahl, Comptroller. Below are the traffic statistics, earnings, expenses, charges, etc., etc.. complied for the Chbonicle. Average No. of pas- Kingston Consolidated— July 1 to Sept 30.... MilTrauhee Eleo. Ry. '31,145 7.114 50,863 64,123 8.115 23,799 June On 1 to Hudson Valley Ry— * Wabash Railroad. . Year, Roads, 1699 49.760 9,673 82,490 *74,862 8,718 41,863 376,303 20,700 41.418 366,840 8,382 29.063 222.493 def.2,583 1,662 1,654 4,030 1,814 10.725 88.058 3.417,842 carried Ton miles per mile 49.601 10,150 91,006 *67,865 10.243 74,639 30.357 227.906 After allowing for other income received. 9.657,914 8,590.193 8,312,371 Tons carried 1 mile... 4053298460 8750435295 3474809943 Tons company freight road 903.175 (all freight) .... Receipts per mile of main track Receipts per revenue train mile (a) Tons per rev. fr't train mUe-all 3,111,701 3,202,202 3,200.789 of freight.. (a) -761,097 671,235 $7,370 $6,292 94 $5,951 S5.529 $8-68 $326 $3-31 $3*01 450-90 402-87 418 366 777,818 Based on revenae passengers and freight and all mixed train miles bat excluding locomotives light and helping— the methods prescribed by the Inter-Btate Commerce Oommlsslon. (a) Receipts— EABMIN08 AND EXPENSES. 1908-04. 190203. 1901-02. $ $ $ 1900-01. $ Pass, and extra baggage.10,508.897 Mail and express Freight All other sources ANNUAL REPORTS. — Annual Reports. The following is an index to all annual reports of steam railroads, street railways and miscellaneous companies which have been published since the last editions of the Railway and Industrial and Street Railway Sections. This index does not include reports in to-day's Chronicle. Page. Kailroads. Etc.— Page. RAILBOADS, Etc.— 1457, 1471 901 Louisville & Nashville Alabama Great Southern 1.328 781 Maine Central Amer. Agricultural Chemical 781 625 Manhattan Ry., New York American Glue 9h7 Massachusetts Gas Companies 1640 American Hide & Leather laso Metropolitan Coal Co., Boston American Light & Traction 499 1022 American liocomotl ve (balance sheet April 30) 1639 Mexican Central (statement for 3 American Shipbuilding 066 years ending June 30) American Smelt'p & Refln'K.1022, lOll 14t12 Assoc'd Merchants (half-year) ... '85 Minneapolis ft 3l. Louis Atchison Tooekai Santa Fe.l325, 1339 Atlantic St HirminnhHm Atlantic Co»st Line RK 1265 TS-'i Boston & Maine BnOalo Koch. & Pittsburgh. 1838 .,678, 684 73l & Susquehanna Calumet & llecia Mining.... ^,.. 498 Canadian (ieneral Electric. .... 732 Canadian Northern 1641 Canadian Paciflo 1020, 1027, 163H 784 Central Foundry Buffalo . Central of Oeurgia Central OH Central RR. of New Jerser Central Vermont 783 62a 18^6 164 Centnry Realty (bal. ah. Jalv 1)... e25 Chesapeake &Ohlo... HOC. 015 Chicago & Alton 1468 Chicago ft Uusiern II linols 1331 Chicago Great Western 1826, 1343 Cnloaao Indianapolis & Loulsvllle.1328 Chicago Milwaukee * St. Paul. 1021 Chicago * North West 965, 970 Chicago Terminal Transfer 900 Chesapeake ft Delaware Canal 782 . Clev. Cincln. Cnlc. ft Si. Louls.899. Oil 1459 Colorado ft Southern Consol.Gasof N.Y.(bal.8b.Jnne30)1022 Denver * Rio (irande 8»», 907 Uetr oil & Macki (lac 1*61 Distillers' Securities Corp 1639 Duluth South Shore & Atlantic... 1326 Kdison Elec. III. of Boston l»<43 ErIeRU 1635,164) Bvansvllle ft Terre llaute 1642 Fort Worth & Detroit Cltr 16.S7 Georgia Southern A Florida 788 Gila Valley Globe ft Northern 14i0 Great N .rlhern Gnlf ftShip Island Hocking Valley 10.36 1461 1298, lvi8a SO) ...1831 1261, 1878 Indiana llllnrili ft Iowa. 1642 Interb. Rap. Tr. (bnl. sh. June 30). 731 Illinois Brick (bal. sb. Illinois Cent r*l Jane International Paper 7rt« Kanawha ft Michigan 1828 Keystone Telephone Co., Phil a... 9ol Lehigh Valley 1262,1869 Lenigh ft Wlikesbarre Coal 1331 Long Island Louisiana LonlsTllle RK Arkansas Uendorson ft 1296 781 ft St. Louis. 068 Sault Ste. Marie. 1327 1263, 1280 Missouri Kansas & Texas Mobile Jackson ft Kansas City ... 1388 1028 Mobile &Ohio 1637 Nashville Chat. & St. Lonls 731 National Enam. & Stamping 1268 New Haven Iron ft Steel N. Y. Cent, ft Hud. Riv.1325, 1335, H68 1380 New York Dock New York New Haven & Hartford.l2fl3 New York Ontario & Western. 966, U77 New York Susquehanna & West..lt)4i Minn. St. Paul ft 14rtl Niagara Falls Power 066. 973 Norfolk & Western 1459 Northern Pacific 498 PaclBc Mail SS. Co 8<*0 Peoria & Eastern Pflster & Vogel Leather (balance 625 sheet Apr. 8j) Pittsburgh Shawraut & Northern..l024 679 Pocahontas Collieries 12-i7 Portland * Rumford Falls 1651 Pu llman Com pany Quebec Central. Heading Co Rutland RR, St. Jc seph ftGraud Island St. IjOuIs ft San Francisco 783 1019, 10.35 1*02 1462 lOJl 1467 St. Louis Sonthwestern 1460 Han FranciBCi) ft, North Paolflo IS27 Southern Indiana 1458,1465 Railway Southern I".i65 Standard Rope ft Twine Terminal RR. Ass'n (statement to 4W9 N. Y. Stock Exchange) 161^ Texas Central 1329 Toledo & Ohio Central United Gas Imp't Co. (oapltalliBtlon, etc.. of operating cos <9H 784 United States Envelope ....1283 U. S. Reduction ft HeHning United States Steel Corp. (quarter 407 and half-year) Wabash 1«W RR Welibach Company Western Maryland ment Aug 102rt (official slate- 1^) Western Union Telegraph Westlnghouie Air Brake. '^"8 1610 D!«6 Westliighcuso Elec. ft Mfg. (of624 ficial statem on t Aug. 2) 1036. 1660 Wisconsin Central Yazoo ft Mississippi Valley ..1080, 1031 9,760,552 9.011.231 7.924,690 3.015.731 2,559,970 2.504,255 ;.. 3,026.814 39.462,068 36,261.679 33.932.782 31,436,359 1.277.100 1.178,287 1,085,647 924.613 Total raU lines Water lines 54,264,378 50,216,248 46,639.62:4 42,789,918 1,014,352 858.940 8S0,<>50 849,347 Total 55,279.23151,075.189 47,500,279 43,639,264 Operating expenses— Maine, of way & struots. 6,497,270 5,293,475 5,947,906 5,429.782 Mttint. of equipment 6,111.5.52 6,025.640 4.568.699 4,471.242 Conducting transport'n.. 13,975.075 13,827,532 11,686,928 11,603,705 aeneral expenses 1,373,224 1,256.356 1,076,169 1,059,024 Total rail lines Water lines Total 27,957,122 26,403,002 23,279,702 22,963.754 1,069,485 936.882 909.764 835.294 29,026,607 27,339,881 24,189.466 23.399,048 P. 0. of exp. to earnings. (52-51) (53'58) (58'61) (50*92) Reo'ts over oper. exps... 26,252.624 23.735.305 23,310,814 20.240.217 INCOME ACCOUNT. 190304. s 1902-03. 1901-02. 1900-01. s s $ Av.milesof raininesop.. 5,762 5,762 5,710 5,643 Gross transp'n receipts.. 56,279, 231 .'>1.075.189 47,500,280 43,538,181 Operating expenses 29.026.607 27.339.884 24.189.406 23,336,854 Taxes 1,470,836 1,407,832 1.369,761 1,250,291 Total 30,497.443 28.747,216 25.559.226 24,587.145 Net receipts 24,781,788 22,327,973 21,941,053 18,961.036 Int. on bonds of cos. other than Oregon Short Line and Or. RR. & Nav. Oo. 311,406 322,282 237,242 309,562 DlvB. on Nor. tjeour. Co. stock and comp'les other than Oregon Short Llue andOr.RR. A Nav. Co. 2,490,520 3,887.615 4.063,031 326.635 Rentals, etc Bal. of int. on loans and open aooo'nts oth. than with auxiliary oomp's. 1.464.917 437.916 208.008 495.367 Available for charges and divlaends 29.048.632 26.975.816 26,521.655 20.010,279 Deduct— Interest on bonds 13,387,977 11,551,124 10,450,787 on loans, etc., other than with auxiliary 008 89,844 1.497,094 7,296,242 Int. SmhlDgfuDd&mlaoolL.. 63.568 58.205 70.524 178.980 Total 12.451.539 11.699,174 12.018.408 7,476.222 Surplus over charges.... 16,597,093 15,276.642 14.503,249 12,535.058 Deduct — DIv. on com. stock- (4%) 4,350.836 4,350,612 4.205,082 4,000.014 do pref. Rtook.. (4%) 3,982,248 3,982,064 3.981,5.'>2 8,979,580 492 644 654 MlBoellaneouB 1,376 Appro, for betls., linpr's insur. Preserve funds.. 3,550.000 2,000,000 2,000.000 1,509.000 , Balance, surplus 11.S83.628 10.333,168 10,187,288 4.713.466 4,948,474 4.316.9B1 9,480,970 3.054.0S8 . : J THE CHRONICLE. 700 BAULNOB SHEET JQNI 80— UHIOIf PACIFIO AND AUXILIABT OOMPAHIES. AueU- t 9 $ 853,637.197 358,6^9.786 353,603.180 910,000 1,220,313 151,608 Stocks and bondB owned 189,927,571 139,896,217 141,494,986 358.178 124,228 Trust funds 236,674 120,08^ Improvb'c and tqalpment funds. ei«.622 6i4,445 Agents and conductors 562.527 1,908, ft59 Cash 8,524,258 4,886 331 Ii.dlvldnnls BDil oompanles. 444.811 1,166,06 1,686,802 Material, fuel and supplies 4,245.9^3 4,680.182 8,635,115 Tmfllo balances 148,566 350,898 184,493 974,831 716,548 U. 8. Governnieiit transportation 805,908 Loans to Houibern Paolflo Oo 20,460,927 15,396,119 14,960,000 San Ped. I/Os An. & 8. L. RR Bills receivable. 550,000 884,655 Accrued Int. on June 30, 1902... 1.325,962 Dlv. accrued to J una 30 on a diy. Northern Co. on Secur. stoolc... 618,689 649,945 Miscellaneous 53,198 , ........ 7,366..'ie5 4,!)93,888 Advances for construction 4,357,277 181,951 For sundry proprietary com'ples. 331,222 731,207 For ocean steamships 3,799,896 5,055,311 RoUlntf stock 707,381 3,181,227 Unadjueted claims, etc 462,879 805,412 2,854,481 2,352,651 3,076,811 Land and town oontraott IS Total assets girders on concrete masonry. An important subway has been oonstrnoted at Summit. Ill to carry an Interurban oar line and hlghwaj traffic under the tracks of this company. Three concrete arches, having a total length of 135 feet, have been built, and 18 oast iron culverts have been pat in nlace; 13 1 high semaphore signals were erected at 8 witches, making a total of 383 switches so equipped. Three Interlocking plants were constructed, making a total of 33. At the date of this report 371 miles of single main track are protected by 293 electric block eignals. Twenty-eight derails, operating through pipe line from main track switches, have been installed at pa<>slng sidings, making a tottl of 130 switches so f qaipp<id. One new coaling station has been construoted at Varna. It is equipped with conveying machinery for handling coal and with welglilng device similar to the 12 stations prevluaaly oonstracted. , 556,712,644 540,388,745 519,057,216 — Common See comparative tables in V. 79, 108,770,900 108,770,900 104,057,900 99,558,900 99,551,900 99,531,900 stock Preferred stock C Report for the statistics for the & Mileage, etc.— Av'age miles of road operated Total train mileage fiscal General Results— The year ending June 30, 1904. J Tons p. train p.mlle (rev. Tons p. train p mile (c>. gross receipts from freight traffic In- ; Maintinaice of Wat, Etc—The total expenditures for malnte nance of way and structures increased $232,645, or 1917 p. o the expense per mile of road was $1,580; 10,166 tons of new rail were placed In the main track, making a total of 8424 miles of track relald during the year; 334,892 cross ties were placed in the main track, equal to 118-92 miles, or 11-78 p. c. of the total main track; 893 lineal feet of bridge flooring was renewed, and 1,017 feet of plate-girder bridges erected; 2 new stations were built and 152 repaired. During the last Ave years tie renewals in main track cover 62-38 p. ; of mileage; rail renewals, 59-40 p. c; ballast renewals, 33-53 p, c ; frogs renewals, 105-05 p. c; switches re- joints renewals, 72-78 p. c; newals. 83-64 At the date of this report the Branches Total 656 lb. rail -liail.10-lb. 60-15. 4 53 121 114 57 235 and ballast were as follows: Ballast. 7otaK Stone. Oravil. Oinders. Slag. Soil. 617 38 108 57 781 £34 65 100 48 re 29 59 57 1,005 655 163 143 85 59 Equipment —The total expenditures for maintenance of equipment or $1,^45 per mile of road, and 20-10 cents per train mile, being an inorease of 3-36 p. o. Fifty four locomotives received light and 155 h->avy repairs, the average repairs per locomotive being $2, S07; 2AH pasHenger-trq lipment cars receivel light and 229 heavy repairs. The average cost of repairs was $663 per oar; 15,767 freight cars reC'-ivel light and °>,943 heavy repairs. The averago cost of raiiairs whs .$ lO 4,=) per car for the entire eqntpment. There have been purchased and delivered during the year ending Jane 30, 1904, through the Chicago Alton Eqiipmenl Assoolatlon, were (rev. freight), STATISTICS. Inerecue. 190202. No. Earnings per ton per mile.... Earnings per train mile Earnings per mile of road creaeed $83.'>,240, or 12-63 p. c. notwithstanding a slight falling off In the tonnage hand ed; this result being the oonseqaence of the better average rate obtained. The number of tons m')ved one mile decreased I4 p. o. The revenue per ton per mile increased from '599 cents to '677 cents The percentage of foreign car mileage was increased from 4979 p. 0. to 52"53 p. 0. The total receipts from passenger traffic Increased 15-24 p. c. arising from a gain In business of $498,493, and a loss of $55,133. due to a decrease in average rate obtained. T^e number of passengers moved one mile Increased 17*11 p 0. The revenue per passenger per mile decreased from 0198 to -0195, or 1-52 p. 0. The passenger business 1r largely local, 90 p 0. originating on the line The cost of conducting transportation Increased $576,663, or 14-48 p. c. principally In the following Items: Baglne and ronndhonsemen, $37,072, or 5-65 p. 0.; fuel for locomotives, $191,13 i, or 33'8l p. c; train service. $tf9,349, or 16-54 p. c; station service, $71,339, or 18-97 p. c; switching charges, $65,301, or 96-19 p. c ; sleeping oar mileage, $1,936, or 32-92 p. c freight oar mileage, $38,146. or 7140 p. c. There were 1,095,703 tons of company freight moved, agalntt which no transportation charge was made. Since 1893 3,9 '-0,2*8 tons of company material have been moved, the cost of moving all of which has been charged to operating expenses. This work has natnrally increased the cost of conducting transportation. Qbowth of Teaffic— The development of the trafflj since the property was acquired by its present owners is best illustrated by the following statement Receiptt Per Qrost Passengers, Fiscal Tons, Receipts. Mile of Road. One Mile. Tear. One Mile. $7,765 105.873,965 1899 $6,546,590 519,191,291 7,796,449 9,118 120.360,463 1900 629,994,662 132,887,965 1901 9.036,655 9.826 823,069.718 1902 9,226.739 10,031 138,591.837 90^,745.440 I46,8f3,521 1,1(12,792,462 1903 10,071,092 11,001 11,425,853 1904 12,484 172,074,594 1,099,973,231 76 1903-04. 7,20514 6.978-43 226-71 28,731,757 28.091,723 xl,359.97l 13,567,817 13,300,893 266,919 3.2 8,333 (co. freight), No. 2.499,031 779,299 (rev. freight) No.3,250,750,267 2,987,577,497 263,172,770 do 1 mile (CO. freight) No.. 410,253,781 302,622,224 107,631,557 Passengers carried, No 11,536,847 10,595,130 941,717 Piseseng'rs carried 1 mile. No. 514,103,832 612,094,475 2,014,357 Tons moved Tons moved do 1 mile Alton KailTfaf. The usual comparative tables of earnings and balance sheet were given in the Chronicle of Oct. 8, p. 1458. President S. M. Felton says in substance: 80 lb. line ...666 year follow: Freight traffic - 'Report for the Miles. fiscal BOCK ISLAND ST8TBM—MILBAOE AHD TRAFFIC 556,712,644 840,388,745 519,057,216 Chicago Main year ending June 30, 1904) The report of the Rock Island system, signed by B. L. Winchell, President of Chicago Rock Island & Pacific Ry. '" Co together with the tystems income account, balauoe sheet, etc., will be found on pages 1716 and 1720. Various -V. 0. U61. p, 1458, Bock Island Company. Bonds, after deducting bonds of auxiliary companies owned... .289,741,500 279,272,000 243,098,000 Coupons due July 1 2,528,005 2,528,005 2,528,005 Interest ancraed on bonds and 1,<163,310 1,511,670 2,732,160 loans to Jane 30 Loans and bills payable 13,128.000 14,250.000 28,760.000 3,330.931 Vouchers and pay rolls 3,113,840 3,918,469 4,167.072 Dlvs. payable July 1 and Oct. 1. 4.388,680 4,331,936 780,534 719,847 730,473 Taxes asseseed but not due 247,349 Sundry proprietary companies.. 809,304 453,558 175,880 275,711 Trust aooounts 500,000 Reserve for hetts. and additions. 3,000,000 Reserve for flood damages 600,000 297,427 191,300 188.327 Insarance fund 114,442 113,809 76,851 Replacement funds Deferred pay'is on land contracts 2,352,651 2,854,481 3,076,811 205,198 252.040 223,181 Miscellaneous Profit and loss 26,005,682 21,132,240 21.361,692 Total liabilities 79, p. 1643, 1333. tyiy, to ,'S,4«0,445 loands, or 89-96 percent. The total capacity of the freight »(|al|iment In service hat been Increased from I J 1,890 tons to 306.250 tons, or 13^-20 p. c. The average capacity per car has been Inrr^-aBel within this period from 2152 to 81-72 tons. The rolUog sock on June 30, 1901, Incu led 23^ looomotlvei, aifainut 213 on June 30. 1903; pasnenge-- oars, 230, egalnst HI; freight cars, 9,855, agaln>-t 9,H05; road Kcvloe cars, 3^6, against 268 IMI'ROVKMEHTS Only slighc ch*nge8 in grade and alignment have been made during the past year; 7^ miles of additional side and yard tracks have been built; also 711 miles of lndu<«trr track'!. Of the latter 1-74 mile accommodates entirely new ItKlintrles. including two coal mines, one elevator and one large cement plant (Mississippi Valley Cement Oo ), at Louisiana, Mo. Temporary trestle. 2,445 feet In length, on Chicago track elevation, has been repla'^ed with steel RallWHyii, fqulpmenf, etc Ooet of extensions Liabilities t. Between June. 1899, and Jnne, 1904, the total tractive power of the locomotives In the service has been Increased from 2,074.520 pounds 1903. 1903. 1904. [Vol. $1,23'.'. 762, A 17 locomotives and 50 passenger oars. f r'ht) fr'ht) Density < f trafflo (rev. freight) Passenger traffic Eari'ings per pass'ger p. mile. Earnings per train mUe (incladlng mail and express).. Earnings per mile of road No. of passengers p. train mile Density of trafflo Other statistics— Total earnings p. mile of road Net earningrt per mile of road. Net Income per mile of road.. Total charges and taxes per mile of road Balance per mile of road $0096 $2162 $0104 xfOOOS $1-957 $4-325 225-48 28 46 451.171 $^430 $-205 z$-105 189-13 19 16 423,116 36-35 9 30 23,055 $001 $023 $-022 $1053 $1031 $-022 $1-891 $1-911 39-59 73,382 x$20 39 74 71,353 $1,241 $1,831 $2,016 $6,359 $2,338 $2,578 $1,179 $1,206 $1,371 $336 •15 x2,029 mi7 x$507 z^561 x$26 XJ535 X Decrease. RoUingstookofRck Island System on June 30, 1904: LooomotlveSr which 1,014 assigned to road service. Of these last 470 average from 45 18 to 6333 tons, 297 average 73 40 tons and 247 average from 88 65 to 96-50 tons Number of freight oars, 35,530; total capacity, 968,790 tons; average capacity, 54,639 pounds. Oars in passeniier service, 751. Cars, etc., in company's service, 2,029. Total all classes, 1,191, of cars, 38,310. OKNEBAL BALAHCB SHEET, BOCK ISLAND SYSTEM, JUNE 30. 1904. Assets— 1903. Property and franchises $216,321,270 $150,262,988 Stocks and bonds of constituent cos 32.322,270 *17,142,284 Advances for oonstrnotlon and equtpm't 34,911,054 Stocks and bonds of auxiliary companies. 581,812 680,038 Ist and ref. bonds in treasury 19.274,000 9,067,263 11,67 7,,'S 42 Oash. 1,644,-31 Ageuts and conductors 1.641,360 Oompanles and Individuals.. 2,271,881 2,338,597 4,246.6J9 663,425 Loans and bills reo>-ivable .. 314.961 United States Government.. 367,934 76,327 iCxpress companies 57,024 Treasury securliies 1,569,426 2,522.258 Material, fuel and supplies. 6,587,009 4,235,866 459,967 195,553 Unadjusted aocoants . $278,556,566 $244,825,900 $76,000,000 131.843.000 4.500 000 12,500,000 Temporary loan bonds issued (in 19,274,000 ref. treasury).... Ist and 2,580,^48 Unpaid vouchers and accounts 1,528,662 Unpaid wages mileage baUnces 328, S52 and Traffic 1,931,821 Matured Interest and rentals pay. July 1.. 1,309,250 Dividends payable August I 20,612 Unclaimed coupons and dividends (old) .. 459.694 Interest accrued (not due) 361.071 Taxes accrued (not due) 14ft, 897 Reiitals aoorued (not due) 1,222,941 Stuchholdertt' improvement loan 375,209 Insurance fuud 31.310 Hospital fund 640,341 Koidaoement fond Improvement fund Contingent account $90,796,346 112,098.000 4,500,000 Total LiabUilits— Capital stock Funded debt 1 Collateral trust notes Profit and Total less 24,500,8.'S8 4,589,138 1,912,747 264.320 1,901,936 935,166 20,012 2^6,366 496,161 856,307 1,222.941 350,000 28,669 46,871 1.104,644 5,265,357 18,667,160 $278,656,566 .$244,825,900 Principally for oonstrnotlon of St. Louis-Kansas City line. at time of par* t Notes of D. B Francis and John Soaliln assumed chase of St, Loa is Kansas City llne.-V. 79, p. 1643, 1462. " J Oct. . , THE CHRONICLE. 22, 190i.J Tlrgiula operations, eaenings, expenses and charges. & Southwestern Railwaj. year ending June SO, 1904.J President Henry K. McHarg says in substance : The past year has been a gratifying one, although the gross earnings have shown a decrease oJ $10,265. The Bristol farnaoe of the Virginia Iron Coal & Coke Co. has been In operation only for four months of the flsoal year, and as this furnace, when running, adds nearly $10,000 a month to the gross earnings of the railway, this alone accounts for the decrease In earnings, ..mm ^ ^ A large amount of money has been spent for Improvements and eanlpment, to wit 25 miles of track ballasted with furnace slag 500 tons of new 85-lb. steel rails purchased and laid; $27,000 paid for Bteel bridges contracted for during last year, and the following equipment purchased and paid for Three new locomotives. $48.000 three new coaches, $15,000; and 100 coke oars, $78,000. In addition, 250 coal oars, costing $860 each, were purchased on a oar trust running Ave years, with sixty payments, carrying Interest at 5 p. c, which securities have been sold at par. This additional pqulpment has CReport for the 1701 fiscal ; : : ; helped materially In the operation of the property, We have a large coal territory tributary to this line for which the Southern market, with Its cotton mills. Is the natural outlet, and this business has developed quite largely In the past year and Is susceptible of much further aevelopment. In making these Improvements we have created a floating debt, which, unless all signs fall, the company will be able to tak« care of easHy and urailually extinguish. The Virginia Iron, Coal & Coke Oo. owns a little more than half of the $2,000,000 capital stock, and with only $14,000 a mile mortgage debt ahead of this stock, it seems to me that In a few years it wUl be a most valuable asset for that company. VIRQINIA & SO.-\VE8T. BIESIKOS, KXPEN8B8 AKD CHARGES FOR 1903-4. Net earnings' $188,868 Earnings from— Deduct— $182,572 Freight...... $15,000 96,522 Accrued taxes Paesengers Accrued bond Interest. . 100,000 Maii,('xpres8 and misceland discount. Interest ... 10,793 26.383 laneous 499 Rentals, $604,482 Total Total $126,29 2 415,614 Operating expenses . Liabilities — Roadway & Capital stock. New equipment First mort. bonds Unpaid vouchers Unpaid pay rollB Btructure8.$3,595,284 113,209 Boiling stock Aeent8,Jndlvld'e & cos. Materials, etc Va. Iron, C. & C. Co.. .. Gush Bills payable Miscellaneous. lacome account 40 IMlBcellanoous $4,480,217 Total —V. 676,915 19,109 51.927 4,9f 3 18,779 $2,000,000 2,000,000 40.466 20,639 337,75V 18.736 62,575 $4,480,217 Total Bntlaud Railroad Compiny. ('Report for the fiscal year ending June 30, President W. Seward Webb says in substance 1.076,798 1,191,092 907,852 Passen. carried " Imlle. 37.868,462 57.912,853 81,924,359 26,766,898 2-34 cts. 2-387 ots 2 245 cts. 230 cts. 1,5^4,169 1,507.380 1,522,050 1,521,956 < 1 154.822.994 156,6.^6.793 115,609,376 136,661,403 90 cts. 0-79 ots. 0-84 cts. 87 <ts, Rate per ton per m. $5,356 Gross earns, per m. $5,308 $3,072 $5,591 m EarningsFreight.. Passenger... Express Malls Retnals Miscellaneous Gross earns $1,399,250 $1,370,589 $1,229,760 859.393 861,484 771,906 61,395 48,160 40,716 65,616 60,184 60,082 19,618 18,624 22,839 19,181 17,520 9,078 $1,168,053 645,172 32,914 54.151 20,810 12,036 $2,414,452 $2,376,561 $2,134,382 $1,933,133 $302,376 320.899 931,260 90,989 $297,016 284,917 1,022,436 104,427 $264,091 177,368 850,543 79,290 $223,773 180.282 798,150 56,542 $1,65^.796 $1,871,292 $1,258,747 Expenses— Malnt. of way, &o... Malnt. of equip Oond'g transporta'n General expenses . . Oper. expenses. $1,645,524 (6815) P. o. of exp. toearn. $768 928 Net earnings x 49.063 Dlv., Interest, Ac... Gross Income... duct — Interest on bonds... D Rentals Taxes Eq'C sinking fund... luterest on loans Special Improvm'ts. Dlv. on pref. stock.. X 1904. $317,991 $824,250 $923,016 $770,947 $513,432 19,000 70,957 100,000 $334,468 19,000 71,845 100,000 $491,041 19,000 67,548 33.000 49,012 $394,943 15.000 68,000 1,229 : with steel rail; 8.1 p. c with 801b. steel, 11 p. c. with 751b. and 6 p c. with 72 lb. Tha branches OhathAm to North HenDlngtonand thn Addison branch— with 60 1b. steel rail. Practically all wooden bridges on the main line have been replaced with steel laid structures. Locomotives, 87; cars in paspenger service, company's service, Sta<i8<tc«.— Operations, earnings, balance sheet have been as followB: 78. ezpeDse*, charges and 96,558 91,635 103,043 (] 9o)90,576 (S%)261,728 (4%)169,664 $921,330 $1,686 $817,118 $7,132 $739,142 $31,805 dividends on Addison RR. on Chatham & Lebanon Valley R8. bonds, $20,on Rutland & Noyan RR. bonds, $1,000; Int. on Ogdensburg Terminal Oo. bonds, $.',000; Int. on equipment bonds, $2,115; Int. on Rutland Can. bonds, $1.0 0; Int. on cash loaned, $5,028; premium on 41s p. 0. bonds exchanged, $43. consolidated balance sheet JUNE 30. Includes (compare V. 75, p. 1028) oOO; Int. 1904. A ssets— $ 1H03. $ Common Advances Katl'd Transit Co Cash on hand BoEds * .. supplies.. 310,8% 2'W,077 50,000 210,427 Traffic balances Sundry oollectlble accounts 293,227 SO.Oi'O 857.038 — 1904. stock 199,400 Liabilities Cons'n & equip. .20,540 324 20,502,449 Stocks and bonds. 1,382,110 xl,058,08U Preferred stock. (see . and pay-rolls AccMint.& rent's . . 60,-292 Uncl'd int. & div. 8. f not yet due.. 419,014 Track ipe, rent'ls, . 29?,185 Total ..22,712,422 2i,051,655 9,1,067,800 Total 1903. $ 199,400 9.067,600 Ry. t IND. Section).. 11,996,000 Audited voucb. taxes, etc., etc.. Profit and loss.... to (63-11) $ >74,389 : , : (64-25) $763,090 159,926 stock. $14,876; Int. Fuel the trackage arrangement nnd^r which trainer Troy and Albany was discontinued In October, 19U8, as nnprotitable. Tnere was no change In the capital stock; the total funded debt decreased $183,000, all In equipment bonds. Rutland Teansit Bonds Canceled.—There was In our treasury Jnlyl, 1903, $601,000 Ratland Transit Oo. first mortgage bonds. Under the mortgage the 'Iranslt Co. was required to deposit with the Insurance. To trustees $26,Oi)0 auaaaUy In seauntles in Ilea of avoid this deposit It was decided to cancel the mortgage and bond", which ha« been aocnmpHshed, the trustees taming over to the Ratland Transit Co. $i5,000 Rutland-Canadian first mortgage bonds and $25,000 Ratland TransU bonds, which had been deposited. These Bt-carltles were transferred to the Rutland RR. treasury to apply on the loan of $310,000, as slrown In last year's report, which had been advanced to the Rutland Transit Oo. to purchase these securities and the warehouse property in Ohlcauo. As the entire stock of the Rutland Transit Co. Is owned by the Ratland RR. Co., thlstraisaotlon has net only given the rtllroad company an unencumbered title to the Rutland Tranfcl!; Co. 's property, through the ownership of its stock. but has made it possible to adjust the stocks and bonds account, which has been done by rhirglng to that account the balance of the Ratland Transit loan, and i'lcreaslng the amount at which stocks and bonds owned by the Rutland RR. Oo. are carried upon Its books. EAEUiKGS.-The Increase In gross earnings was $37,889; $38,661 increase In freight earnings, due to Increased tonnage la freleht handled, and slightly Increased rate per ton mile. Decrease In pas8en».er train 0, $i!,091. Is acconnted for by the dlsoontlnaing of the trackuge arrangement, as above »>tated. The expenses of operation was 68 15 p. o. of the gross earnings, and show a decrease of $13,272, as compared with last year's figures. Maintenance of way and structures Increased $5,360. Maintenance of equipment Increased $86,983, owing to heavier repairs, bringing the eqilpment to a higher standard thnn heretofore. Conducting transportation shows a decrease of $91,177, principally due to the dlccontlnuance of trackage contract south of White Creek, the decreased train mileage and Increased earnings of eqalpment on foreign lines. General expenses show a decrea'ie of $13,438. Decrease In other Income accounted for as follows $1,028 no dividends received on preferred stock held In treasury; $16,234 decrease In Interest accruing on eqalpment bonds and cont^ollda'ed 4'« p. o. bonds sold and exchangea, a reduction of $24,695 In Interest received on cash loaned; (the improvement fund was entirely withdrawn prior to July 1,1903); $15,462. premium on bonds exchanged; this tx change was praetloally completed Nov. 1. m02. Ti;e report for the fiscal year ei iL d June 30, 1903, Inciudel all these extraordinary Items. I.mi'kovk.mknt8 —Expenditures for Improvements to the property aggregated $301,969, chlefiy as follows New bridges $168,305 Settlem'tof legal expenses, Newsteel 90,485 Ohamplaln Constr'u Co. $21,003 Alburghyard coatierlng 12,618 Remainder ^ On July 1, 1903. the Improvement fund amounted to $S7. 867. There has been expetded In excess of this amount $217,101 for Inoprovements. Income account has been charged with $lu:-<,04.H and construction account with «, 01,275. The main Une fro.n White Creek to Noyan Junction, Aibnigh to Ogdensburg and BellowH Falls to Rutland Eqalpment (69-80) $717,767 106,433 $806,482 $11,569 Total Surplus .. Gekeral.— The mileage operated was the same as the previous 106: in freight service, 8,038; 360 Rate per pass. p. m Tons freight oarr'd. year, except that now 1900-01. 416 1, 193,46'* f'ash loans is 1901-2. 415 . 76, p. 267, 273. were run through 1902-3. 415 Operations— . $62,576 $188,868 Surplus Net esmlngs In 1902-03 gross earnings were, $614,747; net, $238,594. VIRGINIA & 80.-WB8T. ET. B iLANCE SHEET J ONE 30, 1904. 1903-4. Miles oper'd J'ne 30 18,129,000 36t,~31 197,500 10.073 39,500 481,285 211,551 10,476 72,500 129.309 718.306 164.719 725,023 22.712.42a 23,051,565 X Includes Rut. Transit Co.'s stock, par value, $1,000,000; Addison RR. stock, Kut. RR. pref. stocli, $103,100; c im. stock. |500; binds. $800 »495,900; Rut. & Noyan RR stock, $100, OJO; bonds, $100,000; Rut. Can. bonds, $25,000; Ogd. Ter. Co bonds, «50,on0; equip bonds, $17,C00; Chatham & Lebanon Valley RR. bonds, $500.000.— V. 79. p. 1462. Galf & Ship iBlaiid Railroad. (Report for the fiscal year ending June SO, 1904 J President J. T. Jones savs in part: General REBT}LT8.-In the first six months of 1£04 there was a decided decline In tiie demand for lum ler ihrouehout the United States and a sympathetic weakening In the prices offered for export lumber also tended to decrease the output; but, notwithstanding these unfavorable conditions, we were able to keep our revenues up to the high level reached the year previous. Tbls was mainly due to the fact thatonr mills had an outlet to tortijin markets through Oalfport harbor and to the material Increase In passenger earnings. The gross earnings Increased $124,768, or 7-32 p. c; the net earuings decreased $24,849, or 3 97 p. o.; Interest) and sinking fond re> qulrements Increased $73,552. The expandltures for maintenance of way and structures Increased 6'44 per cent, the cost per mile charged to operating expenses being $1,061, as against $1,03:) the pre7lous year. AlthouKh the number of revenue tons of freight carried one mile Increased 13 ^>3 per cent, the mileage of revenue freight trains decreased from 343,224 les to o32,7l3 miles, or 2*78 per cent. The average number of revenue tons of freight per train mile Increased from 207 1 1 tons to 242-72 tons. Outlook.— We are oonndent that the demand for lumber, both for Interior consumption and for export, will be decidedly stronger and prices higher the coming fall. The cotton crop promises to b^ as good as last year or bettei; and, by reason of the opening of oar Silver Oreek branch, wh should handle fully 25 p o. more cotton In the coming year than in the past, as that branch traverses the richest cotton section In the State with th » exoeptlun of the Delta. We have encouraged the truck farmers along our line to plant early vegetables, and especially peach trees. We hope to handle nsxt spring from 300 to 4C0 cars of early vegetables. Our paBsenger business la being given attention. Not only Is our seclioM Inoreasiirg In populailon. but the Great Southern Hotel and the business of this port have advertised not only Oulfport, but the whole Gulf coast country, and there Is a large Immigration from the northtrn part of the State to this Ooast, nearly all via our road. Orders have been placed for four 70 ton ten wheel locomotives and m we will also purobase 250 box oars. By January we expect not only to flnlHh laying the heavy rail, but also to complete the balla^itlng of our main line with dnstlCH cement gravel. DrtlU't^rles of the heavy rail are to bo njaMei at the rate of 1,000 tons pernionlh. OCLiTORT Harbor. —But, for the advantages Hlf.jrded to our luni".)er pblppurs by Gnlfp, rt Harbor there would have been a decided decUue our revenues In the past year. Is lumner shipment-) are greater than those from any otiier port on the (} Jif of Mexio <, with tho exoep m tlon of Pr'nsaooia. We expect the first o*rgo of f iriign Imports to arrive at our docks within the next thirty days. It will consist of over .^.000 tuns of Iron pyrites for the Gulfport ('ofo.i Oil, FertlUeer & Mannfaotnrlng Oo iThe buslneRH that can be brought to this port U limited only by the facilities a(r)rded. The volume of lumber business through Qulfport harbor Is shown In the following table: Lumber, fl. Tear. Tonnage. Est. Value. Vesseis. 1901-02 1902-03 1903-04 10.5t>7 18,044,237 $156,000 65,409 47.232,765 846.000 248,845 193,275,500 2.645,000 We are now building about 800 feet of additional wharf and filling In that portion of oar pier which waa formerly a allp. Upon this we ai 56 198 • . THE CHRONICLE. 17»2 bDlld a warebonBe for the taandllnf; of ImportH and exports thkt need protection from weather. We need additional open wharvea. Nkw Road— Hlnoe our last report the Silver Oreek branch to Bash, about 10 miles. haH been put In operation; also !« miles at Sllrer Cre«k, at which point the branoh oonneots with the MlsalsBlppl Central RR. The entire road fronn Mendenhall to BUver Greek will be In operation by Sept. 30. adding 20 miles more to the Unlf A Ship Island system, maklnii a total of 281 miles. We expeoc to complete the branoh from BUrer Oreek to Colaiiibla within the next twelve months, which will make a loop from Meodenhall to Maxle (a station on the main line 44 miles north of Guirport), about 100 miles. This connection win cheapen materially the operation of the Colambla and Mens, and we think will Kreatly Increase the revenue. New Stock and Bonds.— Tn order to secure funds for extensions and Improvements not provided for by the bond leaue, the capital stock was Increased by 5,000 shares and the proceeds of the new stock, ftmoantlng to $500,000, were used In payluK otr lloatlne obligations. The fande<l deb: was increased from $4 607,000 to $4,835,000. Cost Roadway Imof road and equipment Increased *926,473, as follows: provements, $369,997; Silver Oreek branch, $400,000; Gulfport har- bor, 9153,698; additional equipment, $3,321, less credit $543. Statiatica of Operations. —Operations, earnings, charges: OI'BBATIORS ASD FISCAL BE8DLTB. 1902-03. 1901-02. 1903-04. 251 251 Average miles operated. 261 Operations — 420,547 Passengers carried 490,106 383,751 Passecgers carried one mile 9,837,148 12,315,883 11,18P,251 2-89« cts. 2849 cts. 2'575 ots. Rate per passenger mile 1,159,227 1,058,038 903,918 Tons freight moved* Tons freight moved one mile* 80,758,993 70.880,918 57,313,811 1-905 ots. l-743ot8. l-889ot8. Bate per ton per mile* 207 164 $101 $391 $084 Average train-load, revenue (tons) 242 $0-87 Earnings per passenger train mile $4-23 Earnings per freight train mile.. Gross earnings per mile $7,011 * Not including company's freight. BABNIN08, EXPBNSB8, CHABOE8, $3-13 $5,477 $6,793 1903-04. 1902-03. ETC, 1901-02. 356,941 1,407,777 65,098 324,003 1,338,861 42,182 257,921 1,091,598 25,165 195,466 816,015 19,367 1,829,815 1.705.C47 1,374,684 1,030,849 617,450 224,820 277,663 79,754 29,548 515,497 208,323 260,876 66,991 27,980 424,191 162,923 370,167 147,587 210,890 54,907 12,009 1,229,235 1,079,618 (6332) (6718) 625,429 600,580 11,801 3,719 940,514 434,170 795,560 (7718) 235.289 612.381 629,148 434,170 235,289 243,982 194,072 169,145 227,600 1900-01. Earnings— Passenger Freight Mall, express, etc k Company. fiscal year ending June SO, ISOi.J President Alexia W, Thompson says In eubstance Repoblfc Iron -will denhall branch) [Vol. Lxxix. Steel f Report for the : General Reiclts — The past year witnessed a depression in the iron and steel Industry of nnnsnal severity. In the early part of November, 1903, the price of steel dt-o.lned $6 per trjn, <lem^nd for Iron and steel tirodnots diminished and production was reduced nearly 40 p.c. On December 31, 1903, general conditions were such that It was deemt^d prudent to art)u»t our Inventory valnes and $6'i9.618 was written oil', thereby redncing stocks of raw and finished materials to figures oonslderably less than those by which they cou d be replaced. On the other hand, cost of production increased, although by rigid economy and a quite general redaction of salaries the expenses were reduced as far as oosslble. Odtlook.— At the beginning of March, however, the volame of business began to increase and our operations have'slnce been proOtable. To-day the ontlo >k Is again very enouuraging. With a tonnage of orders on our books engaging the capacity of our plants now in operation for the balance of the year, and operating at much lower costs than ever before, due to the new construction work now completed, we look (or favorable results In the Immediate future. Constbdotion.— The amonni expended for new construction was smaller than In any year since ortranlzatlon. This work consisted ohltlly In the Installation of new converters and a riew 40-lnch mill at our steel plant In Yonngstown, and increasing the capacity of our farnaces, coking and mining plants at Birmingham. This new work was absolutely necessary to reduce the cost of production to the lowest possible point. All new oonstraotlon work which was contracted for New is completed. Oil PBOPEHTIB8.— At organization and later the company acquired oil leases on 18,000 acres of land, for the purpose of supplying the Muncle mills with natural gas. As the gas pressure diminished, production of oil increased. The total oil production in 1903 was 35,107 barrels; in the first six months of 1904 it was 27,913 barrels in September, 1904, it was 41,88'> barrels. Present prodaotlon averages over 1,400 barrels per day. While It is too early to form a proper estimate of the value of oar oil property, we feel justified In carrying on vigorous development work. We now have 71 producing wells and are engaged in drilling 17 more. Collateral Notes.— [The statement regarding the $7,000,000 notes secured by deposit of $10,000,000 first mortgage bonds is precisely that given out by President Forgan of the First National Bank of Chicago two weeks ago. See Chhohiclb of Got. 8, 1904, page 1480; also see page 167 of this issue.- Ed.] Oee and Coal Owned in Bibmingiiam District,— A short time ago a committee of leading experts examined into the ore and coal properties of the oompany in the Birmingham district. Their report shows oonolasively that our holdings of ore and ooal In that districc are abundant to supply oar Southern fornaces for more than 50 years. Sfaftt*.— Results for four years have been as follows: gas and ; 1 Total Expen'es— Transportation Maintenance of eanlpm't.. Maintenance of way, etc.. General Taxes 287,4f>2 47,262 18,685 1903-04. Total P. 0. of expenses to earns. Net earnings Other Income Total (68-42) Profits (2%) 200,000 (2%) 100.000 25,CO0 , 10,086 1,359 "6. 1*66 "'3,242 296,481 833,717 175,311 268,859 230,742 4,547 479,068 133,313 Total Barplns. CORDEN8ED BALANCE SHEET JUNE 1904. $ 1903. ( Road and equip.. 11,065,549 10,139,076 180.226 1*4,779 Materials & suppl 36,632 82,767 Cash "^5,240 24.92t Cash in transit.... 121.451 116.479 Cash, flnan. agts.. 24,958 21,112 AKtB.A conduct'rs. 67,H58 100.434 Accts. receivable.. 10.571 7,542 Unexpired Insur 11,596 14,826 Claims in litlgat'n. 150,000 250,000 Reserve fund 100,000 Co's bonds in treas, 13,928 14,746 Mlsoellaneoas . Total assets —V. 11,803,818 10.918,870 79, p. 1461, 731. 30. 1904. $ 5,600,000 4,8H5,000 Fandea debt B'ds due for cons'n 14,734 1003. lAabiUttes- Capital stock < 6,000,000 4,607,000 22,>?77 Securities due for construction 400,000 79,769 121.454 192.182 11,067 69,000 25,000 51,678 192,300 150,000 178,691 11,943 Unpaid pay rolls... Interest on bonds. Voncners & accts. Accrued taxes Ulv'8 due July 15.. Sinking fund Res.for llabil. Res. for sun. assets Invested res.fund. Surplus Miscellaneous est. ToU 74,71-1 115,479 8b9,482 1 000 60,000 '46,266 90,704 850.000 317,934 15,480 liabllltles..ll,803,818 10,918.870 (The) Pnllman Company. CReport for the fiscal year ending July 31, 1904.) Preeident Lincoln gives the following general information: Daring the flsoal year contracts for the operation of cars have been made with the— Gulf & Ship Island RH. Co.. El Paso & Northeastern Ry. Co , Interooeanio Ry. Co. of Mexico, £1 Paso & Rook Island Ry. Co., West Jersey Seashore RR. Co. £1 Paso & Northeastern RR. Co., This year shows an increase of over 8 p. o. in the number of passengers carried and nearly 6 p. o. in the number of miles run. The average number of names on the pay-rolls at Pullman for the year was e,915and wages paid $4,996,997 31, making an average of $722 63 for each person employed. The total number of employees in all departments was 20,355 and the wages paid was $12,570,914. The number of employees for the prevluas year was 20,398, and the wages <fe paid $12,137,592. The results for several years are as below, sheet is No balance furuishtd. 1903-04. 1902-03. 190102. 1900 01. Cars made (valne)..$22,b38,400 $22,546,878 $19,416,021 $16,424,790 «338,81I $304,360 $316,089 Rentals received..,. $306,887 Tot. m. of Ry. under contract for oper. of Pullman oars... 180,036 175,761 169,830 165,283 9,618,438 Passen. oar'd (No.), 13,312,668 12,321,260 10,753,643 Miles ran by cars... 408,234,382 389,254,410 360,602,541 335,742,267 Total revenue $24,788,730 $23,120,713 $20,597,9t'3 $17,996,782 Disbursements— Operating expenBes.$ia,254,l 60 $10,3H9,460 2,739,314 Depreo'nonoars,&c. 2,318,874 Paid other sleep, oar 574,252 asBOClatlone 564,095 8% dlv. on cap. stock 5,919,976 5,919,968 $ Depreciation, impts., etc.. 890,640 1,382,600 Depreciation of material . 669,616 Het Dividends Sinking fund Misoellaneoae 1901-02. $ 4,123,500 Deduct— Deduct— Interest on bonds 1902-08. $ 1,306,068 $9,317,584 1,908,902 $7,378,200 1,485,601 435,742 6,919,924 346,760 6,919,886 Tot. dlsbarsem'U.f 21,047,1 05 $19,622,994 $17,582,152 $15,130,447 Bnrplus $3,741,625 $3,497,720 $3,016,751 $2,866,336 Total surplus July 31, 1S04, $18,017,375; capital stock, |74,000,000; net assets, $93,017,375.— V. 79, p. 1644, def.254,188 profits Dividend on pref. stock... 357,296 do do percent. 1% ~^ Surplus Previous surplus 2,740,900 1,427,082 7 1900-01. $ 8,260,077x1,034,248 666.622 158,527 1,011,245 309,099 2,248,832 1,424,107 1,421,483 7 7 def.611,484 1,813,818 824,725 yl, 112,384 3,248,206 1.934,339 1,109,666 2,222,050 Total surplus 2,638.722 3,248,207 1,934,391 1,109,666 xAfter deducting $256,196 for maintenance and repairs of plants while Idle during July, August and September, 1900. y Deficit. balance sheet JUNE 30. 1904. Aasttt— % 40,70«,.''99 Plant, etc New construction. e,6i:4,5>-9 538,53S St'k In sundry cos. Prod, oil prsp's ... 12(J,929 Prepaid royalties and Insurance. .. 466 836 Raw 1903. S 708.481 «. oee.tot 486.8] ft 144,3e0 S0l,957 and Qnished materials Accts. 4 bills Cash Total -v. 4 rec 1904. . Res'vefortax.&o. Reserve for pos- 4.407.652 n 507.561 1,018,532 sible loises Profit and loss 58.317,085 5d,5E9.670 1908. LiabUitiea— $ $ stock 87,191.000 27.191,000 Preferred stock. .20.416,900 20.416,900 Bills and accounts payable .. 5,664,098 4,931.F6a Div. paid July 1 S.57,20« Reserve for depr'n 251,808 i01,331 Common Total. 187,603 144,379 68.001 2.636.722 3,248,206 68 901 .66,S17,03S 66.569,570 79, p. 1914, 14*0. Crnclble Steel Company of America. (Report for the fiscal year ending Aug. SI, 1904.J President Frank B. Smith says In substance Obnebal Rbsdlts.- The net earnings for the year amount to $488,160 This result is shown after charging off $761,194, viz Acooants : : receivable (doubtful and disputed), $65,554, and depreciation in inventory, $695,640. These reduced earnings may be attributed largely to the heavy decline in prices of raw materials and in the prices of oar products sold on eompetltive lines, as well as the decrease in the volume of business generally. On Sept. 1, 1903, we had on hand an un usually large stock. The neccBsity of keeping the Clairton plant in fall operation compelled us to take from the Clairton Steel Co. its surplus product, and we gave them orders accordingly, which we would not have done with an outside concern. This material was charged to us and inventoried by us at the high market prices prevailing at that time. This seriously afi'eoted the profits during the earlier months of the year and until this stock was exh^iusted. In the inventory the flulehed product has been placed at a lower valuation than at any previous time In the exietenos of the company. We have disposed of the capital stock of the Consumers' Heating Co. for $50,000, being a loss of $si.494, which has been charged to profit and loss. The company has also charged off the sum of $200,000 upon its Investment in the Canton Steel Oo.'s stock. The repairs to the plants necessary to maintain their full operating efficiency have been charged to operatln/; expense account. Betterments made daring the year amount to $110,038. Clairton Steel Co —During the year the officers have been authorized to write olF the losses Incarred In the construction, operation and sale of the Clairton Steel Co. to Sept. 1,1904, amounting to $3,997.426. Full particulars concerning the same have already been submitted by Chairman Wm. a. Park under date of Sept. 20, 1904. (V. 79. p. 1'267.) The total loss shown in his statement Is $4,013,418. This difference Is due to the fact that the present report is made as of Aug. 31, 1904, at which date the exact amount of certain items of loss had not been definitely ascertained. Bonds— Yoa are asked to authorize an issue of $7,000,000 first mortgage 5 p. o. bonds, to be Issued in series, one of which shall mature (after five years) annually during 20 years, these bonds to be secured by mortgage upon all the property and franchises of the company. The objects are as follows ( 1) the retirement of the $5,000,000 short-time 6 p. o. collateral trast bonds Issaed Oct, 81, 1903; (3) the : : Oct. . THE CHRONICLE 22^ 1904.] cancellation of the bUla payable, aggregating $940,187; (3) to pnrohase the ontBtandlngatock of the Park Steel Co., amountlns: to $235,100 par valne; (4) to provide for future development and betterment of these bonds from time to It 1« the purpose of the board to dispose time as the needs of the company may require at not less than 95 net, the stooKholders to commlsilons, and expenses all above over and ^ have the first right to subscribe. ^^ , , volume of, ., bnslness the was September Outlook.— In the month of but so far the month of year, past of the average the eaual only to October shows considerable Improvement. Orders are coming In much more freely and we look for a steady gain both In amount of ales and In profit. 1703 VIBGINIA IRON COAL 1903. $ $ AisetB— Keal est. & OOKB 1904. & plant.. 14,322,246 22W.630 222,692 . . . 1903. $ Capital stock 10,.000,000 10.010,000 First mort. bonds. 6, 434,000 6,958,(100 75.0n0 Va.T.C.&L.Co.bds. Ca.C. & I.Co., bds. 557,000 672,000 Unpaid vouchers.. 10^,617 198,701 Unpaid pay rolls.. 48,673 88,165 Bills payable 65,68.1 1,333 18,N65 Taxes accrued 18,000 Interest accrued .. 114,418 6,821 Fund for deprec'n of coal land 3, etc. 427,000 Miscellaneous 64.039 81,862 Income account. 1,486,774 xf488,160 Net Income Pre/erred dividend' 7%.V 1902. y$3,202,467 1,000,000 1,750,000 l,75"d,6o6 None." X Afterdednotlng$65,S53 for doubtful and dlspnted accounts receivable and $695,640 for depreciation in Inventories, a total of $761,194, y After allowing for error ol $833,311 mentioned In report for 1902-3. PKOFIT AND LOSS ACCODNT TKAB 1903-04. DebU$— Consumers' Heat'g Co. Fire loss In Baltimore. $81,494 2,721 848 Sundry losses 3,997.426 Clalrton Steel Co 200,000 Canton Steel Co. stock.. Surplus Aug. 31. 1903. $1,638,692 Earnings for the year 1908-04 488,160 Balance, profit and loss deficit 2,165,632 BALANCE SHEET AUG 1904. 1,201,469 5,814,344 Park Co Due from Canton Steel Co Proat4 loss deficit Total 1904. 1903. % t UabilitiM— Preferred stock... 25,n00,000 25,000,000 Common stock .26,000,000 25,000,000 . . . Accounta and bills payable 708,086 Due ,809,221 Co to t4,603,767 4,403.806 Park Steel 27,920 487.500 Pref. dividend Collat. trust bonds 203.798 Steel 31. 1903. $ $ Aitet*— Real est.,plants.&c42,671},366 42, 351,681 326,858 110,038 Betterments ,810.312 Investm't secur'B.xl,857,813 ,911,350 Accts. & bills rec. 1.787,124 Cash Inventory Due from .$4,282,484 Total... .$4,282,484 Total. sold Profit 401,189 2,15S.633 1,800,000 and loss sur- 1,638.693 plus 56.203,707 66,508,007 Total 56.803.767 66,508,007 X Includes: Crucible Steel Co. stock at par $986,100 (|563.6f0 preferred and $421.P00 common), deposited at organization with Union Trust Co. of Pittsbureh as trastee, to be used for acquisition of certain outstanding interests and still so held; also Central Plow Steel Co,. Ltd., stock, $25,000; Park Steel Co., pref stock, $8'0,812J (purchases since organization, when f'4 p. c. of the issue was acquired); Canton Steel Co. stock. |ltO,610; Mortgage Portsmouth Iron & Steel Co., *1B0 000; M( rtgage Cumberland Steel Co., t32,5C0; Miscellaneous stocks, $4,290; U. S. Steel Corp. 10-60-year 6 p. c. bonds at 80, $160,000; total. . $1,867,813. y Includes $2.PCO,000 bills payable with collateral trust bonds as collateral, vli.: ''Notes for purchase of Park Steel Co. stock. $37u,000; notes given Clalrton Steel Co., $1,725,001 Canton Steel Co. notes (Crucible Steel Co, Indorser), $456,001 Crucible Steel Co. notes, $140.00' ; Park< Steel Co. notes, $2i0,000." Also $B40, 187 other bills payable, viz : "Crucible (purchase of collateral trust bonds). $13:1,381-1; notes in settlement of Clairton Steel Co.'s accounts, $456,637; Park Steel Co, notes, $361,317."— V. 79, p. 1383, 1267. ; ; Virginia Iron, Coal f Report for the fiscal & Coke Co. year ending June 30, 1904.) President Henry E. McHarg says in substance Oenbbal Kesults.— In the report Issued In September 1903, I referred to Iron as being sold below cost, since which time, with the price of Iron low, prices for coal and coke have continued to fall, so that our furnaces, coke ovens and coal mines have, all combined, had dlttlonlty In earning more than the operating expenses of the property. The coupons maturing Sept. 1, 1903, were funded into scrip, and this scrip was called and paid in cash on May 1, 1903. The company, therefore, did not have to begin to •tarn Interest on Its bonded debt for the year ending Jnne 30, 1904, until Sept. 1, 1903. The net earnings for the first six months of the year, after setting aside the Interest for the months of September, October, November and December, were in round figures about $92,000. Since Jan. 1, 1904, the deficiency has been abont $122,000; therefore, after paying our Interest, the company has run behind approximately $;jO,000 for the year's operations. At present we have only the Dora furnace at Palasbl and the CharReed laland In blast. [Press despatches have within a few days announced the reopening of additional plants.— Ed ] This company maintains as sinking fund a fixed charge against every ton of ore and coal mined and every ton of iron made also a charge to cancel improvements to owned and leased properties, to provide lor depredation. During ihe year this fund has been credited with $:^19, 003, out of which has beee expended $112,645 for repairs to (nrnaces. And in addition $30,120 has been spent out of earnings on improvements to owned and leased properties. These are book credits, and a surplus over the actual expenditures can be considered In the light of an asset, and with the addition of this balance our company will show a surplus for this year over operating expenses, taxes, interest and expenditures of every nature. The company had on hand July 1, 1904, 56.838 tons of pig iron valued at $644,532, none of which is pledged for loans. The net earnings for the fifteen months prior to June 30, 1903, were $1,480,000, or more than lonr years' interest on its bonded debt as now existing. Altbongn the price of iron reached $24 or $25 at times during this fifteen months, the average,prloe received by the company for its iron was $16 15 per ton. The outstanding bonds June 30, 1904, were $6,991,000. All prior liens ahead of the Virginia Iron, Coal & Coke Co, first mortgage 58, with the exception of $557,000 of Carter Coal A Iron Co. bonds, have been paid and the mortgages canceled of record. The total redaction of the bonded debt the past year has been coal fnrnaoe at ; $609,000. EMHRKhviLLB PROPERTY.— In the last report I spoke of the sale of EmbreevUie property to the Embree Iron Co. for $200,000. The Eurchasers paid S30,000 cash and were to pay $5,000 per month eginnlng Deo. 1, 1903. They spent over $100,000 on the plant, and when Just about ready to operate the fall in the price of iron made it Impossible for them to do so. They failed to pay the note on Oeo. 1, 18U3,and an extension was given them of one yuar on condition that the they pay the semi-annual Interest, which they have done to date. iMPauvKMBNTH.- It has seemed that this was the time to pot our plants In flrst-olass shape, and liberal expenditures were bf^giin upon the Bristol furnace as soon as It was closed down, and the plant is now In good condition and ready to start np at any moment. Likewise extensive improvements on the two Mlddlesboro furnaoes will be completed abont Nov. 1. We believe we shall be able to make cheaper iron than ever before. We expect to expend $150,000 on the Crczer furnaces, and it la believed by experts that the output can be lnutea«<ed 30 or 40 p. o. dally and the cost rednceil $1 00 per ton. At all events, with thn oouipeiltlon of the new, modern fornnoes. It seems best that our plants should be placed in as good condition as posBlble. Total 17,898,329 19,886,238 Total X Decrease due solely to 17,898,329 19,886,288 marking down of value of secnrltles owned ; no secnritles disposed of. American Type Founders Co. Bur.y$462,467 def.$227,450 Bnr.$488,160 S . 1903. $1,522,550 1904. 30. 1904. 118,381 846,237 131,547 14,456 Cash 1,112.797 Materials 62,005 Miscellaneous 85,228 Income account... BALANOB SHEBT JCNX LiabmUet- 14.708,749 108,393 2,800.933 833.708 254,336 118.958 Equipment Securities owned. xl,280.324 Sales ledger bal Bills receivable. .. J, W. Cure. Treas., CO. BABIOMQB FOB YIABS ENDIMO AUG. 31. Balance 4 . year ending Aiig, SI, 1904, J President R. W. Nelson, under date of Oct. 15, 1904, says: Obneral Bbsttltb— In the early part of the fiscal year the company felt the general depression In bnslness, but the latter part has shown a marked improvement, so that the volume of business has been less than l p. c. behind that of the previous year, which was by far the largest year in our history. The earnings show a moderate falling off, due chiefly to a strike, during which all oar foundries were partly, and. In some oases, entirely closed. The entire type-founding Industry was subjected to this strike, commencing in October. 1903, ^Report for the fiscal and continuing until January, 1904, the chief contention being the "closed shop." The company and Its competitors made no compromise, the union directing its men to return to work on the best terms obtainable. This was the first strike in 30 years, and as the employees work only nine hours a day and are paid liberal wages, we do not think there will be another serious strike for many years to come. The company has charged ofl to expenses $S7,038 for current repairs and replacements and $65,271 for Improvements, a total of $152,314, before showing the net earnings of the year. The policy of reducing prices wherever business conditions or reduced cost would permit has been continued during the past year, and material reductions have been made in a large number of items. The company has paid 7 p. c. cash dividends upon its preferred stock and 4 p. o. cash dividends npon its common stock, leaving to be added to surplus after such payments $75,514. The increase in bills payable Is due principally to final payments on the Central Foandry which were made during the fiscal year jast ended, and to Increased accounts and bills receivable dne to somewhat slower collections and longer time sales. The surplus for the year Is represented in the Increased merchandise. New Plant.—The strike seriously delayed the installing of the plants In the Central Foundry at Jersey City, but such Installation has rapidly progressed during the past few months, and it is now prodaclng about one-half of Its possible output. By the close of this fiscal year we expect It to be in complete operation, producing its maximum capacity. A materially Increased etflolenoy has already been established, and the present year will secure a liberal portion of the saving to be ultimately efieoted.' At no time since the Incorporation of the company has It been able to give the service to customers which it gives to-day. Outlook. —The high position which the company has attained, not only at home, bat abroad, has been materially Increased during the past year. Several of our reeent type faces have met with unprecedented sale, and the company's plans for the coming year along these lines are more extensive than for any other year In its history; and we are fully warranted in our belief that oar position in the trade will be very considerably Statistics. enhanced. —A comparative statement for four years shows the following: 1903-04. 1902-03. 1901-02. 1900 01$439,223 $434,974 $404,656 $419,038 92,274 103,139 97,587 95,568 Grosa earnings Interest charges $346,949 $337,387 $301,527 $328,470 Net earnings stock div. 4 p. c $160,000 $160,000 $160,000 $160,000 Preferred 8tockdlvldendB(7%)lll,438 (7)75,551(1%)16,225 Common $75,514 $101,836 Surplns BALANCE SHEET AUG. $126,802 1904. 1904. Assets— C 8,778,.tl» Plant Merch. & raw mat.. 2,225.656 Miscellaneous 20H.O>(0 . «86.2fl6 Cash Stocks and bonds.. Total. -V. . 189,207 831.945 7.962,893 1903. Liabilitie3( < Capltal stock, com.. ,000,000 4,000,000 Capital stock, pref..l ,648,800 1,648,800 9i 0,000 Debenture bonds .. 900.000 Accounts payable.. 176,7e5 171,026 Bills payable 650,000 3»4,09.S 46,428 Scrip 4^,428 Surplus 641.900 4«e,»t;6 Accounti recelv'ble 8u0,421 Bills receivable $163,470 31. 7.626,782 Total 7,968.898 7,686,788 78, p. 889. GENERAL INVESTMENT NEWS. RAILROADS, INCLUDING STREET ROADS. Alberta Railway A Coal Co.— Amalgamation.— See Alberta Railway & Irrigation Co. below.— V. 73, p. 1111. Alberta Railway & Irrigation Co.— Amalgamation, The Alberta Railway & Irrigation Co. was incorporated under Statutes of Canada, 1904, Chapter 43, an Act providing for the amalgamation of that company with the Alberta Railway & Coal Co., the Canadian North West Irrigation Co. and the St. Mary's River Railway Co. The amalgamation agreement came into effect on Sept. 80, 1904. The se- — curities, directors, etc., of the new company are: Common stock In $100 aharea $3,250,000 Prior lien 4 p. c. debenture atock, aub]eot to call at par at any time or from time to time on three months' notice by the company 1,260,000 Five p. c. debenture atock (interest non cumulative) subject to call like the prior lien debenture stock 3,250,000 Directors (until Nov. 2, 1904)— Elliott T. Gait of Lethhrldge. N. W. T.; K. R. B. Wodehonse, William Biirdott-Oontts, Edwin Waterhouse, J. Home Dodgaon, all of London, England; John Unit of Winnipeg, R. Ramsay of Montreal. The solioltora in Canada are Berwick, Ayleaworth, Wright A Moas, Toronto, Ont. Wm The Alberta Ry. & Coal Co. owns a narrow gauge road extending from Lethbridge, Albetta District, Canada, to Coutta, on the InternationAl Boundary, 65 milei, and at last accounts had ontatandine |100,000 ordinary stock, 11,000,000 preference stook, £350,000 4 p. c. debenture A — — THE CHRONICLE. 1704 Btcck and £650,000 5 p. c. debenture B stock. The St. Mary's River Ry. extends from Stirllnp to Bpriag Conlee, 80 miles. V. 73, p. 1111. Offi:e, 37 Oli Jewry, London, E, Aaetia (Tex.) Electric Ry.—3foWfli<i /e Ft/ed.— This company in 1908 aathorlzed a mortgage, bat it was tbonght probable that no bonds would be Issued thereunder. This mortgage has recently been filed of record securlug $850,000 V. 76, p. of 5 p. c. bonds, dated April 1, 1903, and du3 1933. C— — 1247. Aroostook RR.— Report.— The results for the year ending June 30 were: fiangror & Ntt. Fear. Oross. Oharget. BetVinrntt. Divs. Bal., $ur. 1903-04. .f2,01ft,S.S8 5!756,414 $580,070 ^TP.'iOO (3)|46,500 »70,344 1902-Oa.. 1,800,168 91,313 689,609 821.233 57,063 V. 79, p. 211. — Berkshire (Mass.) Street Rj.— New jBond«.— The directors voted on 0_t 7 to iesue |200,000 additional bonds to provide for floating debt incurred for improvements, equipment, etc., making in all |1, 0(0, 000 bonds outstanding. This action is subject to the approval of the State Railroad Commission. —V. 78, p. 819, Rj— Called Bonds.— See Baffalo Rochester & Pittsbnrgh Rochester & Pittsburgh Coal & Iron Co. under lodustrials" in last week's Chronicle, p. 1651.— V. 79, p. 678, 684. Chesapeake Transit Co.— Mtrger.— See Norfolk & Southern RR. below—V. 78, p. 2598. Coney Island & Brooklyn (Electric) RR.—Neto Director. Alvin W. Krech {not H. C. Frick) has been elected a director in place cf Thos. Clark Jr., deoeaeed,— V. 78, p. 1800 Denver Northwestern & Pacific Rj.— Terminal Line.See Northwestern Terminal RR. below.— V. 79, p. 102, Des Moines & Fort Dodge RR.— Sale of Ouiranteed Co. of this city have purchased th^ Bond*'. - Redmond entire new issue of |3,')72,000 first mortgage 4 p, c. gold bonds due Jan. 1, 1935, guaranteed principal and interest by the Minneapolis & St. Louis RB., which recently bought ' — & control of the company. The bonds maturing Jan. 1, 1905, frr a like aggregate amonnt, will be paid when due at the cffi je of Redmond & Co., unless the holders accept the privilege of exchanging the same for the new 43 on the bisis of par for the old issue and 97 for the naw. The new bonds are to be for $1,000 each, secured by an absolutely first mortgage to the Central Trust Co, as trustee, and will not be subject to call before maturity. The capital stock oonaists of $763,500 preferred and 11,283,000 common; $2,530,000 of the latter has been deposited by the Minneapolis & St. Louis as part security for its first and refuEding mortgage. See that company's report for the year 1908 4.— V. 79, p. 786, 268. Dnrango Central Ry. Default.— Beianlt having occurred payment of the July coupon on tQe first mortgage 53, holders of the bonds are requested to communicate with in the & Co,, of 15 Broad St., N. Y., and 30 ConHuoley, Learnard gress St., Boston, who are holders of bonds, and intend to take steps to protect their interests. The July interest was advertised as payable at the Guaranty Trust Co., but, it seems, was not actually paid. V. 79, p. 269. Erie Railroad.— iVeto Director.— George F. Biker, President of the First National Bank of New York, has been elected a director to succeed the late John Lowber Welsh. V. 79, — — p. 1645, 1635. Georgia RR. & Banking Co.— Favorable Dccisjon.— Judge in the United States Circuit Court at Atlanta, Gi., on Sept. 29, following generally the decision of the Georgia Supreme Court, held that this company's railroad and franchises are exempt from taxation aside from a tax of one-half of one per cent on net earnings. This exemption, however, does not extend to the reserve fund of the railroad if there is any fund which on investigation proves to be "surplus" and not a railroad investment, it would be taxable. He holds Newman, ; subj ct to taxation also the issue of $44,000 of stock made in 1868, the Legislature having in 1863 passed an Act forbidding further ex rmptions of corporation stock or property from taxation. The case, which will go to the United States Supreme Court, involves the following provision of the company's charter, passed in 1833: The Btoob ot said oompaDy and Its braBohes shall be exempt from taxation fur and durlog a term of seven years from and after the oompleilon or said railroads or any one of them; and after that shall be sal'jeot to a tax not exceeding one-half of 1 percent per annum on the net proceeds of their Investments. -V. 70, p. 125. Uunstoa (Texas) Electric Co.— Sfrtfce Bnds.—The strike whiou was begun on Jane 2, and which affected about one hundred motormen and conductors, and fifty employees at Highland Park, was formally declared off on Ojt. 11, having failed entirely.— V. 79, p. 50U. Houston & Texas Central RR.— Called Bonds —The numbers of coaooliJated mortgage bonds, aggregating $135 000, which will be redeemed at 110 and interest Dec. 16, will be found in anaivi-rtieem-^nt on another page of to-day's ChroxICE,-V. 79, p 1023. RR— Approved.— The shareholders at the annual meetirg this we-::k ratified the trackage, etc., propositions stated 79, p. 1642. Apphcatiox to Lt*i.— Application has been made to the New York Stock Excharga to list $3,148,000 Litchfield DiIllinois Central m vision firbt mcrcgage 3j ot 1951. -V. 79, p. 1641, 1331. Jackson (Mich.) Consolidated Traction Co —Important cfy stem.— Bonds Offered.— W. N. Color & Co. of this Trolley city, having sold $400,100 of the present issue of first mort- [Vol, Lxxix. gage 5 p. c. gold bonde, offer the remaining $200,000 at par and interest. Tae total amount of bonds authorized ia $l,00f>,000, but $400,000 are held in treasury and only to be issued UD to 90 p. c. of the cost of Improvemtn a or extensions. Th? bonds are dated 1, 1904, and due May 1, 1934, but subj c". to call for payment at 105 and Interest on Miy any interest day. Interest pavable May Guardian Trust Co., trustee. New York. 1 and Nov. A 1 at the circular says : The company was orKai.fzid to take over the properties of the Jaikson Buburban Traotiou Co., ibe Wolf Lake Railway A Kesort Co and to mak'^ numeroas t^xteoslons and liuprovemeutH. The Improvements made to date consist of 5 miles of new track (about <tc . half of which Is within the city limits, the other half belot; an nrban extension, past two cemeteries, to VaDdercnok Lake, a popalar local summer resort), re'aylng the entire system with 70 lb rail, aid the purobase of a large amount of new eqalpmen', rolling stook, etc placing the property lu the best of physical condition. The company operates 28 oars, six of whiah Wfire recently piiroha"ed. The prcparty of the Jackson ()z Hubaroan T. action Co. consisted of the fn Ire street railway system (^5 miles) of the city of Jackson, with practically perpetua' franfhises ooverlag all the streets of the city. The property of th<5 Wolf Lak-> Railway A Resort Co. c insisted or 21^ miles of tiack, a larxe casino and pier, laolndlng t>oat homes, dance hall, dining room, etc., and about 30 acres of land with lake frontage on which about 30 cottages have already been built by the company and leai-ed This Is one of the most popn ar resort-t In Central Michigan, and the snmtner business of this line l<i especially heavy. The earnln)2s of the ooDSOlldated system are showing a u^arked Increase over a year a*ro, notwlrh-tandlng the fact that lo prov^menw are going on which hinder traffij. The actual cost of operation has been d>ioreased about 25 p. o. sluoe consolidation. The comoanv la earning now at the rate of il20,0U0 a year, and we expect to see this Increa-ted to $150,000 or more during th-i preheat fiscal year. The Interest charges are only $30,000 per year and the operating expenses are aporoxlmately $f!}0,00j per year, leaving a sarpluj of $i0.000 upon the present basis of operation. In 1903 the gross Income $y 1,562; bet over fixed charges about $20,000. A contract was entered Into July i, 1904, whereby practically the entire capital stook of the Detroit YpsllantI Ann Aroor & Jackcoa Railway Co. and the Tajkaon Consolidated Traction Co. was pooled for a term of years, and the physical consollilatlon of the entire propperty running from Detroit to Jackson (130 miles) was brought about and put under the manaifemeut of J. P. Ciark ('he present minager of Jaokson CooeoUdated Traction Co.), to bd operated as one system, and under the control of the following well known eieotr'cal street railway and flDanolal men: Walter C. K«rr, New York; Gfiirge O. Smith, Pittsburgh, Pa. L. Hole and W. N. Coler Jr., New York J. D. Hawks and -«. F. Ani?ne, Detroit, Mich.; W. A. Boland of New York and Jackson, Mloh. The ultimate result will no doubt be the consolidation of the varlons ormpanles now In operation In this eestlon of Michigan Into one company oootroUing and opera jlng all coaneotlng properties, which would make a system of over 225 miles. By the combination already made. It is possible to run oars from the court house In Detroit to Jaokson, pasf-lng through the most Important cities, towns and villages of Southern Michigan Th'^ llmlt>)d service just established between Jaokson and Detroit will make the ran in less than three hours.— V. 79, p. 269. , wu H ; ; Kansas City Fort Scott & Memphis Rj.— Called Bonis.— Fort Scott Southeastern Memphis RR. first mortgage 7 per cent bonds to the amount of $3S,030, drawn for redemption, were payable on Sept. 24, 19 J4, at 105 fiit. by the trustees, at 50 State Street, Boston. Also $104,000 Marquette fquipment bonds were payable Oct. 1 at par (ex-interesc due that day) at the aforesaid offi je.— V. 79, p, 1642, 629, & Lehigh Valley RR.— New Bonds— Securities Called.— The directors on Oct. 19 approved the sale of |15,000,000 general consol. 43 to Drexel Co. and Edward B. Smith Co. Tney also authorized the calling for payment on jo. 1 of the |2,000,000 coal trrst certificates of 1932 at 102i^ and on May 1, 1905, of the $7,910,000 Mortgage and Cjllateral Trust bonds of 1897 at 107^. The coal trust certificates (also coal pledge bonds) are advertised to be paid on the date named at the Glrard Trust Co., Philadelphia. They were issued by the Lshigh Valley Coal Co. President Thomas informs U3 that the $15,003,000 general consols sold are all that will be issued at present. None will be rfqiired to replace the |2,511,000 Collateral Trust 58 held in tae company's treasury, as the bonds will be canThe proceed 1 from the sale of the |15,000,000 bonds celed. will suffice to pay off the securitiea called for redemption, as above recorded, and leave about $3,701,030 cash in the company's treasury.- V. 79, p. 1643, 1269, 1263. & D & Lehigh Yalley Traction Co.— Time Extended.—The time for deposit of securities, etc., under the plan of reorganization (V. 79, p 733) has been extended to Nov. 1, 1904, incluThe deposits of the company's bonds to Oct, 7 are resive. ported, apparently on good authority, as aggregating |1,255,000. -V. 79. p. 1463, 1266. HaryUnd Delaware & Tlr^rlnia Rj.— CapitalizationTerms of Exchinge. — We have been favored with the following statement touching this proposed consolidation of railway and steamboat interests (see last week's Chronicle, p. 1642) : The common stock Is to be $1,500,000; preferred stook, $1,500,000 non-oumulatlve; new bonds authorised, $2,000,000, of whleh be $l,760.ooo, suVjeot to the to ;ien of the $330,000 preference bonis of cj leen Anne's RR. The consolidated mortgage tionds of the Q leen Aune's RR. will receive #1,U00 per bond in preferred stock, ne Income bonds will receive $5 per hunlred for their holdings and the common stock wUi be paid $1 per hundred— all of the above to be i aid In iireferred stock. Praitloally all of the Q leen Anne's RR. security-holders have consented to the deal.— V.79, p. 1642. Metropolitan West Side Eierated BR,, Chicago.— xVew Terminal Station Cpened.-Oa Ootot)er 3 the large new central elevated station on the corner of Jackson Boulevard ^nd Fifth Ave. was formally opened. Compare V. 75, p, 1087 aad V. 78, p. 343.-V. 78, p. 1494 1 p. 0. Issue I Minneapolis & -See D.s Mnnes St. & Louis RR. Sale of \Quaranteed Bonds, Fort Dodge RR. above.— V, 79, p. 1462, 269. Muskogee Bridge Co.-Bonds OJtred.— Everfz& Co.,Chicag), are offering a block of the |100,iJUO firit 53 at l'J6 : Oct. THE CHRONICLE. 22, 1904.] 1705 Item of S14,9e:o,000 appears In the consolidated balance sheet These bonds are guaranteed principal and in- ofThis the Union Pacific system as a "deferred asset," while the tables ot \^hos^ is Central Ry., stock Cbemkee & Ozaik stocks aid bonds owned by the Union Paoiflo lines Include no secnritles of the San Pedro road, probably because they have not been disall ov^ned by the St. Louis & San Francisco. tributed The "cost of road" of the Union Paoiflo lines on the other has been reduced by $7,043,944 for "adjastments arlslni; from New York New Haren & Hartford RR.— See New York hand, the sale of prop-Arties to the 8au Pedro Ls 4.ne;ele8 & Salt Lake RR. Ontario & Western Ry. below. -V. 79, p. 1462, 13£2. Co., of which the cost was In part carried under capital assets and In New York Ontario & Western Ry.— Sale Pending —The part under free assets." Train Service Between Salt Lake and Los Ar.geles.-The "New York News Bnrean" of Oct. 30 said: Althoneh no definite Information on the 8Ub)eot oan be obtained at company's railroad between Salt Lake and Los Angeles, it is the offloPBof the New Fork Ontario & Western or the New York New stated, will be opened for traffij on Jan. 1, 1905.— V. 79, p. on excellent authority, Haven & Hartford oompanles, It can be stated 1024, 213. which we truet Impllcltv. th»f the control of the first named company Haven New & Hartford yesterday. York New the to S<'nth Pennsylvania Rj.— Successor. This projected line paeeel definitely The deal 18 not likely to be completed to the last detail until next in Westmoreland, Allegheny, Somerset, Huntingdon, Fulton, official sonroes. pnbllo from We week when the terms will be made Bedford and Dauphin counties. Pa., which was bid in at foreunderstand that the efforts of the New Haven to secure the New York closure sale on May 18th by representatives of the Baltimore Ontario & Western were opposed by two of the largest truok Ud* sys prominent that middle fdund a Westterns In the country until it was & Ohio RR. Co. has been transferred by deed to the Fulton, ern road was vigorously pnehtng neKotlatlone to secure the road. Bedford «& Somerset Ry. Co.— V. 78, p. 1963, 1499. of the New York Ontario & We are Informed thar. the stockholders Western will be ^Iven either a 2 p. o. or 2^ p c. Ruaranteed dividend Soath & Western Rj.— Sale.— The Union Trust Co. of Balor that a price will be paid for the stock probably from 45 to 80 per timore has disposed of its interests in the Crane's Nest (Coal) share, and that all stockholders will be treated alike. some 112,000 acres of coal lands in Wise and The New York New Haven & Hartford now controls the Co. (owningcounties, Va. V. 75, p. 908), and the South <fc Dickinson Centr&l New England Railway (the Poughkeepsie Bridge Railway Co. to a new holding company, to be Western Western would Ontario have & the N. Y. through and line), known as the Ciinchfield Corporation. The new company, not only direct connection with and large holdings in the it is said, will have $2,3C0,000 of capital stock, but no bonded anfhrsclte coal fields of Pennsylvania, but a lake connection debt. The directors will include, with others representing at Oswego, N. Y., and tracbage, etc., to Weehawken, N. J., and interest. terest, by the — opposite New York City. Western in our 1462, 1382. Railway See map of New York & Industrial Oatario Section,— V. 79, & New York and p. Oeorge L. Carter of Bristol, Tenn. (President of the Western Ry.), and Archer A, Pelegar of Virginia.— V. 77, p. of Baltimore, Ncrf.flk & Southern RR.— Mortgage— Merger.— The shareholders will vote Oct. 31: (1) on making a mortgage to retire the existing mortgage indebtedness, and to provide for additions and extensions; (2) on acquiring the Chesapeake Transit Co. with a view to merger. Compare V. 79, p. 1462. Co. Norfolk & Western Ry.— Bonds So/d.— Brown Bros. annonn ed on Monday that the entire block of $5,000,000 4 per cent bonds purchased by them last week had been sold. The price was 96^ and interest.— V. 79, p. 1642, 973. & Northern Pacific Ry.— Dividend.— The company has declared a quarterly dividend of IJ^ p. c. and an extra dividend of 3^ p. c both payable Nov. 1 '"to those lawfully entitled to receive the same," being the same amounts as distributed in May and Angnst. la February the 1^4 P- c. was paid with cut any extra, making the total payments in 1904 &% p. c, as against 7 p c. in 1903 and 5^ P.c in 1803.— V. 79, p. 1459, , 213. Northwestern Termiual RR.— Proposed Terminal Line in Denver. This company was incorporated in Colorado on July 81 with $2,600,000 of authorized capital stock to build a terminal railway in the city of Denver for the new Denver Northwestern & Pacific [the Moffat line], and any other load or roads that may wish to connect with it. Beside the right of way, snfficient ground, it is stated, will be acquired for papfenger aid freight depots, yards and terminal faciliThe directors are ties. David H Mofiat. Walter 8. Cheeseman, Charles J. Hughes Jr., W. G. Evans, 8. M. Ferry, A, C. tildgway, F. C. Moflat and Thomas Keeley. At present the D N. & P. road ends at the city limits, near Argo, whence the Burlington tracks are used to the D. N. & P. depot at 15th and Delgany streets. The prefeot Union Depot at Denver is controlled by the Union Pacific, the Denver &'liio Grande and the Colorado & Southern. The prospect of lower charges, it is suggested, may lead the Rock Island and the Burlington to become tenants of the new company. Track laying on the Denver Northwestern Pacific is reported to be progressing rapidly beyond Mnrnmoth, and before Dec. 1, it is thought, trains will be rcnning to the western side of the continental divide to a point on the Fraxer River, somewhat above what is known as the old Cozen ranch.— V. 79, p. 102. Oakland (Cai.) Traction Co.— New Mortgage.— The shareholders will vote Dec. 20 on making a mortgage to secure not exceeding $7,000,000 bonds, of which a pirt will be reserved to pay all existing bonded debt and for future capital requirements in the way of additions and extensions, and tne remainder will be applied to cotstructlng and completing the trolley system, discharging the floating debt incurred for construction and equipment.— V. 79, p. 1462. Oregon Short Llue RB. -Purchase of One- half Inter e A in the San Pedro Los Angeles <& Salt Lake RR.—See that compar y below.— V. 78, p lij93. — : & Ozark & Chen kee Central Rj.— Guaranteed Bonds Of /ered.— See Muck igee Bridge Co. above.— V. 78, p. 2385. St. Lonis Transit Vo.— Han Approved —At the special meeting held in 8t Louis Oct. 19, tte stockholders adopted the read jnstment plan submitted by Brown Brothers & Co. Out of 172,000 shares 162,(00 were voted; no dissents. The plan was outlined in V. 79, p. 13J2, 1842. San Pidro Los Angeles ft S.lt Like ER.— fJnion I acific Interest.— Tho report of the Union Pacific RR Co., wbich ifl pobllehed on substqnent pages of today's Chronicle (see pages 1707 and 17( 9), notes the aale to this ccmpany of fil<! miles ot track «,f the Oregon Short Line RR. Co., a subsidiary of the Uuion Pacific, and states that durli g Has Half the year the Short Line I urchaced a one'-hall' interest in tht; San Pedro Los Angeles & Salt Lake RR. Co., having to June 80, 1904, "paid on account of this investment the sum of 114,900,000." Philadelphia interests: James Clark. President of the Drovers' & Mechanics' National Bank of Baltimore, President; aiiles White Jr., and J. Sonthgate Lemmon & South Ifl34. Toronto Hamilton & Buffalo Ry.— Second Mortgage.— Oct. 13 a mortgage deed bearing date Jane 1, 1904, made to Nicol Kingsmill and Charles F. Cox, the trustees, for the purpose of securing $l,0O0,OCO second mortgage 4 p. c. bonds, was deposited in the office of the Secretary of On State of Canada. See V. 78, p. 2336. Union Pacific RR.— One- Ha?/ Interest in San Pedro Los Angeles & Salt Lake RR.—Bee that company above. Rport —See pages 1699 of to-day's Chronicle.— V. 79, p. 1643, 1333, United Railways Co. of St. Lonis.- Pian Approved.— At the special meeting held in St. Louis Ojt. 20, the stockholders voted in favor of the readjastment plan submitted by Brown Brothers Co. Oat of 372,000 shares 386,000 were voted; no dissents. See dig(=st of plan in V. 79, p. 1333. & WatsonTille (Cal.) Transportation Co.— Bonds.—This company, having built and eqnifped 5 miles of trolley road, has sold to Marshall A. Frank and Matthias Meyer, of the Daniel Meyer Co,, San Fiancieco, |200,OGO of 3C-year sinking fund bonds, and purposes to extend the road to Vega and Hollister, Cal. INDUSTRIAL, GAS AND MISCELLANEOUS. American Light & Traction Co.— Firs* Dividend on Common Stock.— The company has declarc^d with the regular quarterly dividend of l}>i p. c. on its $9,396,200 preferred stock a first [semi-annuil] dividend of IJ^p. c, on its |4,680,800 common stock. This is the first payment on the ordinary shares. Both dividends are payable Nov. 1 to holders of rer^ord Oct. 22. Compare report in Chronicle of Ocjt. 1, p. 1330 Americun (Sell) Telephone & Telegraph Co.— 0«/pu*.— The output of instruments for the month and nine months ending Sept. 30 were , Gross output (number) Net output (numher) Total ontstaiidlng (number) —V. 79, p. 1267, 788. Month 1904. 106,305 67,952 . . 1903. 79,406 35,968 9 Months. 1904. 19C3. 876,609 501,684 4,281,201 > 812.229 4,^3,;^98 3,603,718 [The] American Tob.iCCO Co.— Merger Company Incorporated.- At Newark, N. J., on Wednesday, Vlce-Ohancellor Pitney decile ed to continue the restraining order previously granted by him to Julius B. Ikelheimer and others in their suit to prevent the merger of the Consolidated, Continental and American Tobacco companies per plan in V, 79, p. 1034. Compare also decision under Consolidated Tobacco Co., V, 79. p. 1643. On 7 hursday the new American Tobacco Co., which will take over tl: e assets of the three old companies, was incorporated in New Jersey, with |160,000,0C0 of authorized capital stock, of whlcn |80,000.n00 is 6 p. c. cumulative preferred. The outstanding capitalization will be as follows, the four claeses of securities (stock and bonds) ranking in the order shown as regards the right to interest and dividends and the PHyment of princi^jal in case of liquidation 6 p. c. gold bonds (not mortgag. ) due Oct. 1, 1944, $')6.090.416; 4 p. c. gold bends (not mortgage) due Aug. 1, 19.^1, f78,6(-9.1C0; preferred : stock, $78,689,100; common stvck, $40,242,460. Compare earnings, etc., in V. 79, p. 1035, 1643. Ai-phalt Co. of America.— (7ompro7ntse.— William C. Bullitt of Philadelphia, who represented about §300,000 Asphalt Co. of America 5s not deposited under the reorganization plan, announced on Wtdneeday that a compromise had been reached hy which 54 p. c. of the par valne of the bonds will be piild therefor, wbioh, less the cost of the liMsration, will net the owner $!500 for each |1,000 bond. The "Ptjiladelphia News Burewu" urderstanda that there still remain oututanding |lt)7,()00 cn'ipsented 58, of which |180,000 is represented by Ormond Rambo.— V. 78, p. p. 881, — — THE CHRONICLE. 1706 [Vol. lxxix. Associated Merotaants Co.— Proposition to Preferred ShareTio/derx.— President John Claflin, under date of Oct. 15, Federal Mining ft Smelting Co. Application to List.makes The New York Stock Erchange has ^een requested to list the first preferred shareholders : Bevfiral larKO Btookholdern are oonslderliiK the poRRlble oonyerBlon of their llrst proforred atock Into oommon Btook. The comraon BtockholderH, buliiK deairous of mlnliutztng saoh oonveralon, make Uie fol the following proposition to the IowIdk propoBltlon : rate of dlBtrlbatlon on the oommon Btook shall exoeed (he present rate. 7 p. o. per annam, then for eaob Inorease of 1 p. c. beyond 7 p. 0. In the rate paid on the oommon stock the preferred Btocke shall be entitled at their next ensuloK dividend date to additional dividends at the rate of >« of 1 p. o. per annum beyond their tlxed raten. In other words, whenever the rate on the oommoa atook Is raised to 8 p. o., the rate on the first preferred stock shall be raised to5»«p. c, and the rate on the second preferred to 6>« p. o. Whenever the rate on the oommon Is raised to 9 p. o the rate on first preferred shall be raised to 6 p. c. and the rate on second preferred to 7 p. o., and so on Whenever the $5,000,000 common stock and $10 000.000 7 p. c. cumulative preferred stock, par of shares $100. The company's output Is stated as 100,000 tons concentrates and 8,000,000 ounces sliver annually. Compare V. 77, p. 403.— V. 78, p. 2337. Frederick ( Md.) Gas & Electric Co.— Rights of Preferred Sfocfc.- Treasurer C. L. Serrill, 314 Chestnut St., Philadelphia, informs us that the $100,000 preferred atock is 5 p, o. non-cumulative, thus amending the Item In V. 79, p. 272. General Asphalt V,o.— Settlement. See Asphalt Co. of America above.— V. 79, p, 786, 682. General Electric Co.— Allied Financing Company. Seo Indeflnltely. Electrical Securities Co. above.— V. 79, p. 1026, 272. ir this agreement were made, Itwonld not In any way Impair the existing preferences of the preferred stocks, either as to principal or as Greene Consolidated Copper Co.— Listed in Boston.— The to regnlar oamalatlve dividends; nor would It limit the exlstlni? rights $8,640,000 stock has been fisted on the Boston Stock Exof the first preferred stockholders to convert Into second preferred stock or Into common stock. It would simply offer the first preferred change.— V. 79, p. 1644, 1833. stockholders greater Inducements to remain In a preferred class. Hammond Ice Co., Baltimore.— i2eeetver«,—Ju3ge Dennis, The firat preferred shareholders who approve are requested in Circuit Court, No. 2, Baltimore, on Oct. 12, with the conto sign and return an enclosed form. No action will be sent of the company, appointed Edward C. Carrlngton Jr. taken unless there be practically unanimous assent. About and William H. Evans as receivers of the property, upon ap80 per cent of the preferred stockholders, we are informed, plication of the Assets Realization Co*, of Camden, N. J., have already expressed their approval of the plan.—V. 79, and other holders of the 5 p. o. bonds of 1902, of which , $423,000 are outstanding. Compare V. 79, p. 905. Beech Creek Coal & Coke Co.— Mortgage.— Thla company, Keystone Telephone Co., Phiiadeiphia.— Safe of Conduits which is controlled by the Pennsylvania Coal & Coke Co., and Franchises.— See Phlladelphii Electric Co. below.—V.79, Knickerbocker Trust Co., as mortgage the to recehtly made a p. 1464, 901. trustee, to secure $3,000,000 of first mortgage 5 per 6ent 40Mergenthaler Linotype Co.— £?a»^mg«.— The net profits p. 785. year sinking fund gold bonds. These bonds are dated June 1, 1904, and are dne June 1, 1944, bat are subject to call on June 1, 1907, or any subsequent Interest day, at par and Interest when drawn by lot for sinking fond, which, beginning June 1 1907, Is to receive 3 cents per ton of coal sold during preceding year, bnt not less than $75,000. Interest payable June 1 and Deo. I. , Denomination $1,000. Amount issued $2,748,000, remainder reserved to retire $262,000 of 4 per cent bonds of Chest Greek Land & Improvement Oo. dated April 1, 1898, and due Oct. 1, 1934, but subject to call, Knickerbocker Trust Co., trustee. See v. 78. p. 1909. The bonds bear the following guaranty: In consideration of the purchase of the within bond and for value reoelyed the original owner thereof, the Pennsylvania Goal & Ooke Oo. guarantees to the several and successive holders thereof the due, regular and punctual payment of the principal and interest of the within bond. In witness whereof the said Pennsylvania Coal & Ooke Oo. has caused Its corporate name to be signed hereto by its President and lis corporate seal to be hereunto affixed, attested by its Secretary, this 24ih day of August, 1904. Pennsylvania Goal & Coke Co. [Signed, W. A. Lathrop, President, and A. G. Edwards, Sec.]— V. 78, p. 1909. Batterick Company, New York.— Mortgage.— Thia company's subsidiary, the Butterick Pablishlng Co., recently mortgaged the new "Butterick Building" at the southwest corner of Spring and Macdougal streets, to the Republic of Panama, to secure a 5-year 43^ p. c. loan for $600,000, maturing Sept. 7, 1909, from which the building loan of $150,000 shown in the last annual statement has been paid off.— V. Chest Creek Land & ImproTeinent Co.—Bond«.— See Beech Creek Coal & Coke Co. above. Chicago Edison Co.— Bond Sale.—The company has sold to Russell, Brewster & Co., N. W. Halsey & Co. and the National City Bank of New York $500,000 first mortgage bonds, making $5,500,000 bonds outstanding. The issue is limited to $8,000,000. Compare pages 455 and 456 of Railway & Industrial Section and Chronicle V. 78, p. 1546.— V. 79, p. 272. Co.—Favorable Decision.-See CincluDati Telephone Qaeen City Telephone Co. below.—V. 77, p. 458. Colorado Fael & Iron Co.—Pian Approved.— The shareholders at the meeting in Denver on Oct. 17, more than 90 per cent of the stock being represented, ratified the refunding plan (V. 77, p. 2100, 2311 and V. 79, p. 786, 1267), and voted to increase the capital stock to $48,200,000 and to guarantee $45,000,000 bonds of the Colorado Industrial Co. V. 79, p. 1643, 1267. Consolidated ttas Co., New York,— Purchase Completed.— See New York & Westchester Lighting Co. below.— V. 79, p. 78, p. 990. 1022, 989. Consolidated Tobaceo Co.-Pian Ratified.-The shareholders on Oct. 17 ratified the proposed plan of merger by a vote of $39,719,100 stock of the total Issue of $40,000,000. See American Tobacco Co. above and compare plan in V, 79, p. 1024; also decision, etc., in last week's Chhoniole, p. 1613. Crane's Nest Co.—Soid.— See South & Western RR. under "Railroads" above.—V. 75, p. 908. Crnoible Steel Co.—Neio Director.— J. B. Lyon has been elected to the board to succeed W. P. Snyder, Report.— See page 1702 of to-day's Chronicle.— V. 79, p. 1883, 1267. Electrical Securities Corporation.— Financing Company. —The Electrical Securities Corporation was incorporated last week in New York with a paid-up capital of $1,000,000 5 per cent preferred and $2,000,000 common stock, The company will issue its bonds, limited to not more than four times its capital and surplus, and secured by first mortgage bonds as collateral, which latter have been Issued in payment for equipment, machinery, etc. The directors Include C, A. Cofian, President of the General Electric Co.; Q. M. Cummlng, of the United States Mortgage & Trust Co,, New York; E. T. Stotesbury of Philadelphia, Gordon Abbott of Boston, Sons (the company's financial Pliny Fisk of Harvey Fisk agents), and other well-known men. & for the year ended Oct. 1, 1904, were $2,383,298 (the largest in the company's history), contrasting with $3,323,833 the previous year. Dividends at the rate of 15 p. c, per annum (the quarterly rate being 2}^ p. c, and an extra 5 p. c. having been paid last December) call for $1,500,000,— V. 78, p. 2802. Matnal Electric Light Co., San Francisco.- iVei« Presi' dent.—B., H, Miller, who represents various interests of D. O. Mills on the Pacific Coast, has been elected President.V. 79, p. 107. National Asphalt Co.— Settlement with Non-assenting Bondholders. See Asphalt Co. of America above. V. 78, — — p. 345, 232. New York & Westchester Lighting Co.— afergrer—Iforigagre.— This company, recently organized as a subsidiary of the Consolidated Gas Co. of New York, has acquired by merger the property of the Westchester- Lighting Co. (compare V. 79, p. 160, 504, 1026), the control of which was held by the United Gas Improvement Co. of Philadelphia, and has made a general mortgage to the Central Trust Co. of New York, as trustee, to secure $10,000,000 of 100 year gold bonds dated July 12, 1904, and due July 1, 2004, but subject to call on or after Jaly 1, 1905, at company's option at par and interest; denomination, $1,000; interest graded, increasing gradually from }4 p. c. for the first year to 4 p. c. from July 1, 1914, to maturity. These bonds, which follow $8,939,000 Westchester Lighting Co. bonds and underlying Issues, will, it is understood, be given for the $10,000,000 common stock of the Westchester Lighting Co.; $2,500,000 of debenture 50-year 5s, it is said, will be given for the preferred shares (V. 79, p, 504). Both issues of the new bonds will be gnaranteed, principal and Interest, by the Consolidated Gas Co.—V. 79, p. 503, 216. Ontario Power Co.— -Descrtp Won of Plant.— The "Engineering Record" of October 8 contains the first of a series of articles regarding this company's plant. —V. 77, p. 2394. Pacific Coast Co.— Report,— The results for the year ending June 30 were : Tear. Orois. Net. Divi. Bal.. tur. 0th. inc. OKargen. 1903-01... $5,902,972 $1,185,029 $15,432 $i!>l,097 $626,250 $353,114 190203... 5,606,754 1,211,978 44,378 261,919 626,250 368,187 Dividends above Inclade 5 per cent yearly on each of the three classes of stock, viz on first pref. ($76,250), second preferred ($200,000) and oommon stock ($350,000).— V. 78, p. 2015. , Pacific Packing & Navigation Co.— Reduction of Capital Stock of Selling Company.— Notice la given by advertisement in New Jersey of the reduction of capital stock of thia company's selling agency, the Pacific Selling Co., from $1,000,000 to $100,000 by reduction of the number of shares from 10,000 to 1,000; par value $100 each.— V. 79, p. 1464, 633. Pennsylvania Coal & Coke Co.— Guaranteed Bonds.- See Beech Creek Coal Coke Co. above.—V. 78, p. 1910. Philadelphia Electric Co. — Purc/iase of Keystone Telephone Conduits.— The company has concluded negotiathe purchase of the conduits of the Keytions for stone Telephone Co. for $3,600,000 cash, the telephone company to pay a rental of $125,000.for the use of the conduits for telephone purposes. The sale will enable the Keystone Com- & A pany to pay its floating debt. (V. 79, p. 1464, 901.) director of the Pnlladelphla Electric Co. is quoted: There seems to be no need of maklnti; a new assessmeot on the stock to flaanoe the purchase. We have $,2,000,000 Philadelphia Electric 4s In the treasury, on which we could borrow, perhaps in the form of collateral trust notes, and also cash In hand remalnlog from the $1,250,000 paid in last Jane as the. first; Instalment on the present call; $1,250,000 more will oe payable next December. There are none of the Penna. Mfg. 58 In the treasury, the $2,000,000 of that issne having been canceled. The Philadelphia Electric Co., as it receives $125,u00 rental per annum from the Keystone Telephone Co., will be getting 5 p. c. ou the cost of the conduit property, $2,500,000, and so the Investment will be paying for itself.— V. 78, p. 2446. ^7* iDTcatment Neiva Concluded on Pa^e 1720. ,. Oct. . : . : . THE CHRONICLE. 22, 1904.1 je|3r0rt$ 1707 awd ^ocnmtnts. UNION PACIFIC RAILROAD COMPANY. SEVENTH ANNUAL REPORT— FOR THE YEAR ENDING JUNE 1904. 30, New Yobk, October 4, 1904. To the Stcckholdera cf the Union Pacific Railroad Company : The Board of Directors submit herewith their report of the operations and affairs of the Union Pacific Railroad Company and Auxiliary Companies for the fiscal year which ended June 30, 1904. The combined operations and affairs of the Union Pacific RR. Co., Oregon Short Line RR. Co. and The ©regon RR. & Navigation Co. are herein^ designated for convenience by the term of " Union Pacific Railroad Company and Auxiliary Companies." PROPERTIES AND MILEAGE. and Auxiliary Companies owned or controlled by ownership Pacific RR. Co. following miles of railway and water lines The Union 30, 1904, the Main Track. Oompanieg. Union Pacific Railroad Co.— Mileage of lines owned Obkgon Short Line Railroad Co.— Mileage of lines owned June of stock, and leased, on : - Mileage of lines of which the entire capital stock is owned by the Oregon Short Line RR. Co. and which are operated as apart of its lines Mileage of lines leased Oregon Railroad & Navigation Co.— Mileage of lines owned Second *3,128-39 9994 1,000-77 1,148-75 4-33 277-75 162-59 35-39 2-41 5,59417 Total mileage, June 30, 1904. Total mileage, June 30, 1903. 6,104-68 968-00 165-35 29-64 1,083-64 68-39 Mileage of lines leased Water Linet. Sidings. Track. 104-27 78-74 1,508 90 1,504-58 25*53 4-32 Increase.. 968-00 1,035-00 610-51 Decrease 67-00 & * Includes mileage of Leavenworth Kansas Western Ry. Co.. 16565 mllei of main track and 1090 miles of sidings. The entire capital stock of this company Is owned by the Union Paoiflc RR. Co., but it Is operated by its own organization; its earnings and expenses, other than the statement of earnings and expenses of the U. Pac. Ry. Co. and Auxiliary Companies. included in advances made for its operation, are not The details of the mileage of the railroad and water lines are shown in Table No. 1 of the Comptroller's report. Union Pacific RR. There has been no change in main track mileage, but there was an increase of 25'58 miles of ond track on the main line between Council Bluffs, Iowa, and Ogden, Utah. Oregon Short Line RR. Under an agreement with the San Pedro Los Angeles & Salt Lake RR. Co., there was to said Company on July 7, 1903, the following lines of railway of the Oregon Short Line RR. Co. — — sec- sold 226-07 miles* 115-45 " 4327 " 5-46 " Sandy to Frisco, Utah Salt Lake City to Leamington Junction, Utah Lehi Junction to Tintlc, Utah Ironton to Northern Spy Mine, Utah Mammoth Junction to Mammoth, Utah BUver City Junction to Eureka, Utah 1-82 S-19 " 395-26 " 1*99 74-61 40-47 " " o.... 512*33 " Also the railways and properties of the following companies Sew Katt Tintic Railway (Jo., Mammoth to Mammoth Mine, Utah Utah (& Pacific RR. Co., Milford to Utah-Nevada State Line Utah, Netaaa <t California RB. Co., Utah-Nevada State Line to Callentes, Nevada Total miles of main ti-ack - -' also 17 locomotives, 13 passenger train cars, 209 freight train oars and 27 road service oars. The mileage of main track wes reduced -59 miles by re-measurement. The average number of miles of railroad operated for the year, for which the accompanying statements of earnings and expenses are submitted, was 5,352-71. INCOME FOR THK TEAR. The gross receipts and disbursements were : Tear Ending June Average miles of rail lines operated during the year 30, 1904. Tear Ending June 30. 1903. 5,352-71 8.762-28 Gross transportation receipts $55,279,230 67 $51,075,188 86 Oi>eratlng expenses $29,026,607 01 1,470,835 62 $27,339,884 23 1,407,33176 $30. 497,442 63 $28,747,215 99 $24,781,788 04 311,406 83 $22,327,972 87 323,282 00 2,490,519 75 3.887,645 17 415,193 99 ., Rkgkipts Taxes Total operating expenses and taxes. Receipts over operating expenses and taxes , Interest on bonds owned of companies other than Oregon Short Line and Oregon RR. Dividends on stock owned of Northern Securities Co. and of companies other than Oregon RR. & Navigation Co Rentals and other Inoonje Balance of Interest on loans and open accounts other than with Auxiliary companies A Navigation Co Oregon Short Line and """.I"l..!l Total income available for fixed and contingent charges and dividends 1,464,917 04 $29,048,631 66 $26,953,094 03 $12,887,976 67 $11,551,124 44 89,843 79 12,013 S3 FIXBD Oharoes. Interest on funded debt outstanding in the hands of the Public Balance of Interest on loans and open accounts other than with Auxiliary Companies. Sinking fund requirements ............ Rentals and other expenses ....I"."Il!m"ri."II.'.I ','.', 12,013 33 39,604 85 Total fixed charges $12,489,594 85 $11,662,981 66 Surplus over fixed charges $16,619,036 81 $15,800,113 47 CONTDJOEMT CHARGES. Interest on Oregon Short Line RR. Co. Income A and B bonds outstanding Total contingent charges Snrplus over fixed and contingent charges. In the hands of the PubUo $21,946 00 $23,470 00 $21,946 00 $33,470 00 $16,697,091 81 $16,376,642 47 : : — : THE CHRONICLE. 1708 [Vol. Lixix. INCOME FOB THE YEA.R—Coucluded. Tear Ending June Brought foTv>ard Ytar Ending Jun* 30, 1904. %ibj(yi,oc)i 8 $/5 »76 642 47 APPLICATION OF BUBPLUS. DlyldendB on eto6k of Union Paolflo RR. Co.: Two per cent on common Btook, paid April 1, 1904 Two per cent on preferred stock, paid April 1, 1904 Two i)er ct^nt ou coiuiuou stock, payable October 1, 1901 Two ver cent on preferred stock, payalde October 1, 1904 Dividends on stock of OroKou RR. & Navljtatlon Co. In hands of the Public: Two per cent on preferred stock, paid January 1, 1904 Two per cent on preferred stock, payable July 1, 1901 $2,175,418 00 1,991,078 00 , $2,175.194 1,991,026 2,175,418 1,991,038 00 1,991,178 00 2,17.5,418 , , Appropriation for Insurance fund. Oregon RR. & Navigation Co... Appropriated for betterments and additions made during the year Appropriated for repairs of damages caused by floods Reserve for the purchase of new equipment Reserve for future betterments ana additions 00 00 00 00 272 00 272 00 276 00 216 00 $8,333,636 00 $8,333,168 00 , Total dlvldenda. 30, 1903. *50,000 00 1,500,000 00 $1,000,000 00 500,000 00 1,500,000 00 500,000 00 fd6,'66b"()6 Total appropriation $3,550,000 00 $2,000,000 00 Balanee—$urplus $4,713,455 81 $4,943,474 47 Compared with the preceding year: Average miles 403-57 miles or 7'11 per $4,204,011 81 or 8*23 1,686,722 78 or 617 63,503 86 or 451 2,453,815 17 or 10-99 1,320,449 84 or 864 of rail lines operated decreased. Gross transportation receipts increased Operating expenses Increased Taxes increased Receipts over operating expenses and taxes Increased. Surplus over fixed and contingent charges Increased... cent " " " The decree in the United States Government suit enjoining the Northern Securities Co. from receiving dividends on the Railway shares held by it was aflBrmed by the Supreme Court March 14, 1904. Since that date the Northern Securities Co. has been unable to collect the dividends declared by the Railway Companies and therefore unable to pay any dividends of its own. In consequence of this decision the dividend received by the Oregon Short Line RR. Co. ceased with the dividend declared by the Northern Securities Co. February 1, 1904. The dividends from July 1, 1903, to said date amounted to $3,165,409 75 aga'nst $3,574,644 67 received in the preceding year, a decrease of $1,409,234 92. Increase in other sources of income, however, reduced the decrease in receipts, interest, dividends, rentals, etc., to $358,277 54, as against the preceding year. Interest on funded debt outstanding in the hands of the Public increased $836,852 23. Of this increase §458,333 35 was for interest on Union Pacific RR. Co. Five Per Cent Collateral Notes, and the greater part of the remainder for interest on Oregon Short Line RR. Co. Four Per Cent and Participating Twenty-five- Year Gold Bonds, on which a full year's interest charge had accrued, and $180,000, dividend payment of one-half of one per cent over and above the regular semiannual coupon of two per cent, paid to the holders of said bonds February 1, 1904, from the dividends received during the calendar year 1903 in excess of four per cent on the face amount of the outstanding bonds. This increase in funded debt, however, was more than offset from the interest, amounting to $1,464,917 04, received on account of the advances by the Union Pacific RR. Co. to the Southern Pacific Co. and others. CAPITAL STOCK. There were outstanding in the hands of the Public at the beginning of the year, common and preferred stocks of the Union Pacific RR. Co. and AuxUlary Companies to the amount of $208,367,636 60 There was Issued during the year Union Pacific RR. Co. Preferred Stock exchanged for an equal amount of Oregon Short Line BR. Co. Income B Bonds 7,000 00 , : Less— Oregon RR. <ic Navigation Co. Preferred Stock BR. Co. and Auxiliary Companies Amount of stocks $208,374,686 60 but included in statement of stocks owned by the Union Paclflo 16 00 aco[ulred, .$208,374,670 60 outstanding In the hands of the Public, June 30, 1904 $6,984 00 Increase during the year The total amount of stocks issued and outstanding detail in Table No. 5. and the amount owned by the Union Pacific RR. Co. and Auxiliary Companies are shown in FUNDED DEBT. There were outstanding In the hands of the Public at the beginning of the year bonds of the Union Paolflo BR. Co. and Auxiliary Companies to the amount of $279,272,000 00 There were issued during the year Union Pacific RR. Co. Five Per Cent Collateral Notes (Doe Feb. 1, 1905) $10,000,000 00 Oregon RR. & Navigation Co. Consolidated Mortgage Four Per Cent Bonds, viz. In exchange for $4,000 face value Oregon Railway & Navigation Co. First Mortgage Six Per Cent Bonds purchased and canceled last year 4,000 00 Oreson Short Line BR, Co. Four Per Cent and Participating Twenty-five Year Gold Bonds 500,000 00 10.504 000 00 $289,776,000 00 Less bonds of AuxUlary Companies acquired during the year, bat Included in statement of bonds owned by the Union Pacific R R. Co and Auxiliary CompauieB Oregon Short Line RR. Co. Income A Bonds Oregon Short Line BR. Co Incomes Bonds $27,600 00 7,000 00 34,500 00 Amount of $289,741,600 00 bonds outstanding in the hands of the Public June 30, 1904 Increase duTlrg the year The total amount Companies are shown $10,469,600,00 of bonds issued and outstaoding in detail in Table No. 5. and the amounl owned by the Union Pacific RR. Co. and Auxiliary ASSETS AND LIABILITIES. The assets and liabilities of the Union Pacific RR. Co. and Auxiliary Companies are shown in detail in Table No. 4. The value of the lands belonging to the Union Pacific RR. Co. remaining unsold at the close of the fiscal year is not included in such statement of assets. The securities of the Auxiliary Companies owned, as well as all offseting accounts between the companies, are eliminated, thus dealing only with the securities in the hands of the public. There were sold during the year $10,000,(00 face value Union Pacific RR. Co.'s Five Per Cent Collateral Notes maturing February 1, 1905; the proceeds were used in further advances to the Southern Pacific Co., in the construction of and investment in new lines, in the completion of the steamships "Manchuria" and "Mongolia," referred to in the last Annual Report, and in the purchase of other equipment. In addition to the above-mentioned short-term notes, the companies have incurred loans to the amount of $13,128,000. Against these liabilities they have a large excess in demand loans to the Southern Pacific Co., which, on June 30, 1904, amounted to $20,460,927 43, in advances for the construction of and investment in new lines and equipment aggregating $27,553,814 98, and in other free assets in the form of unpledged stocks and bonds, as shown in detail in Tables Nos. 6 and?. LAND DEPABTMENT. The net proceeds from the belonging to the Union Pacific RR. Co. (after payment of expenses and taxes sums of money received on account of interest or principal of the bonds and dividends upon sale of lands appertaining thereto), and all the stock of the Union Paoific Lind Co., are under the provisions of the Mortgage of the Union Pacific RR. Co.'s First — — Oct. . — : THE CHRONICLE. 22, 190 J.] 1709 Land Grant Four Per Cent Q-old B3nds set apart and held by the Trustee as a Cash Improvement and Equipto reimburse the Railroad Company for any expenditures for betterments, improvements, equipment or other properties not paid for out of other funds or charged to operating expsnses or cost of maiatenance. For the year ending June 30, 1904, the transactions in respect of the above-mentioned lands were as follows: Railroad and ment Fund Net proceeds applied during the year under provisions of mortgage Number of acres sold Total amount received (cash and principal of deferred payments) Average price received per acre Numberof acres of land remaining unsold June 30, 1904 Estimated value of lands and town lots remaining unsold June 30, 1904 Landcontraotsoutstanding June 30, 1904. The details of the year's transactions and 18 of pamphlet report. $898,256 02 1,037,793-28 $2,256,166 94 $2 17 4.396,654 33 $3,541,684 80 $6,322,601 38 - and the account with Trustee in respect of said funds are shown in Tables Noe. 13, 15, 17 CAPITAL EXPENDITURES. The charges to capital account other than for bonds and stocks in companies other than the Union Pacific Railroad Company atd Auxiliary Companies were as as follows: Expenditures for accounts of extensions, viz. Union Pacific Railroad Oregon Short Line Railroad Oregon Railroad & Navigation Co Adjustment of old claims pending against property acquired in reorganization , $5,091 14,746 6,364 20,866 68 01 58 34 $47,068 61 Expenditures for Betterments, Improvements and Equipment (Table No. 20 of pamphlet re- port), viz. For ballasting For bridges, viaducts and culverts For shops, buildings and yards For real estate For fencing, telegraph lines, shop machinery and other minor expenses For additional side and passing tracks For changes of line, reducing grades, widening embankments and tunnel improvements For 1 dining car, 1 wrecking crane and additional cost of equipment added during the last $318,203 09 805,725 66 1,034,942 09 94,985 77 124,861 55 133 833 49 850,494 72 51,864 55 fiscal year... 3,414,9.0 92 of the following companies deposited under Oregon Short Line Railroad Company Consolidated First Mortgage Five Per Cent Gold Bonds, and credited to cost of property in 1897, satisfied of mortgage and canceled during the year Bonds Idaho Central Railway Company First Mortgage Six Per Cent Bonds Utah Central Railroad Company First Morteage Six Per Cent Bonds Utah Southern Railroad Company First Mortgage Seven Per Cent Bonds $131,000 00 7,000 00 422,000 00 560,000 00 Adjustment in amount deducted from cost of railways, equipment and appurtenances in last report, said amount being deducted for dlflference between face value of stocks and bonds of the auxiliary companies and the price at which they were taken over. .$4,023,111 36 Total Deduct 1,131 83 for Appropriations from Income Account for betterments, improvements and equipment $1,500,000 00 Proceeds from sale and lease of lands applied under provisions of mortgage toward the payments for improvements and equipment 991,696 43 Surveys and other charges written off S8,144 39 Expenditures for account of the construction of new lines transferred to free assets 180,257 61 Adjustments arising from the sale of properties to the San Pedro Los Angeles & Salt Lake Railroad Co., of which the cost was In part carried under capital assets and in part imder free assets 7,043,994 48 9,804,092 91 Credit to capital expenditures in exosss of charges $5,780,981 55 During the year the Oregon Short Line RR. Co. purchased a one-half interest, which it now owns, in the San Pedro Los Angeles & Salt Lake RR. Co. This Company has under construction a line of railroad from San Pedro and Los Angeles, Cal., to Salt Lake City, Utah, with various branches. On account of this investment there was paid to June 30, 1904, the sum of $14,960,000. In addition to this free asset the companies have advanced $12,593,814 98 for the construction of new lines, for the completion of steamships and for additional rolling stock, There is represented in this sum the cost of 271 miles of completed main track and 39 miles of sidings, 64 locomotives, 11 passenger train cars, 1,693 freight train cars, and the completion of the steamships "Mongolia" and "Manchuria," of a gross tonnage of 13,500 tons each. Upon their completion said steamships were chartered to the Pacific Mail Steamship Co. The character of the BETTERMENTS AND IMPROVEMENTS betterments and improvements made during the year was ' as follows: Total. Milea of track ballasted with gravel. rock... Total miles of track ballasted Lineal feet pile and timber trestle replaced with Iron and steel truss bridges. " " *' " " steel girder bridges " " *' " " embankment Total lineal feet pl'c and timber trestle replaced Lineal feet steel bridges built replacing embankment " steel girder bridges built (pile and stone abutments) " " " " (Of ncrete abutments) " steel truss bridges oullt (stone abutments) " " " " (concrete abutments) " iron and steel truss bridges replaced with heavier structures Total lineal feet of Iron and steel bridges built Lineal feet (transversely to tiack) stone and concrete arch culverts " (transversely to track) iron pl^e culverts Cubic yards of masonry put in place Miles of riKht of way fenced (track miles) Miles of snow fence built (fence miles) Miles of second trach built Miles of pidings and passing tracks built after deducting 26'44 m. of sidings taken up. Miles of roadl)ed widened Cubic yanlH material moved widening embankinentH and filling trestles Miles of additional telegraph wires strung on existing poles Miles of telegraph pole line and fixtures reconstructed Union Oregon Pacific RR. Co. Short Line RR. Oo. Oregon RR. I \<t .Navigation Oo. 230-35 7-22 123-55 81-80 25-00 23757 123-55 81-80 32-22 73500 201-00 2,650-10 5,58610 7,554 00 7-22 13,87510 2,851-10 24400 244-00 5,046*00 3,56200 1,48400 534 00 1,45200 2,294-00 5,260-00 3,778-00 7,246-00 1,484-00 1,452-00 1,45200 55200 55200 534-00 995-00 99506 8,82300 53400 1,484 00 1,98600 20400 4100 2.15900 924-00 31,931-92 124-32 5,353-00 492-00 3,038 00 18,972-00 27-21 6,800 00 6,169-92 51-90 918 813 100 '73700 6,12100 28-53 25 53 3106 7325 16-24 14-75 590,708-00 276 30 126-60 37,37400 30 10 45-21 7-77 27-50 233,321-00 7-05 31-00 320,013-00 246-20 126-60 There was a reduction in the total length of pile and timber bridges of 16,117 feet, and an increase in the total length of permanent bridges o' 6,480 feet. The expenditures include the cost of 13 new station buildings, 2 track scales, 7 stockyards, 6 ice houses, 4 turntables, 10 water tanks, 17 stand pipes, 17 pumping houses, 13 windmills, 28 w.ater softeners, 4 coaling stations, 32 section houses and 29 bunk houses. They also include extensive yard improvements at Salt Lake City, and the grading and part of the bridging on the line of the Union Pacific RR. for second track from Silver Creek to Lock wood. Neb., 3847 miles, and from Alda to Bnda, Neb., 29 27 miles. There was built on tlie lines of the Oregon Short Line RR. at Montpelier a 15-8tall 85foct engine house, a 72-foot turntable and a 53-ft. 3-in. x 111-ft. 3-in. machine shop; at Glenn's Ferry a 12-8tall 85-foot : : THE CHRONICLE. 1710 [Vol. lxjlii. fb. 8-ia. z 111 ft. 3-ia. machine shop, and at Ltma a 12-stall 85-foot engine house and a 53-ft. 8-in. z mvchine shop. The oost of those alditions amounted to $183,312 03. The followini; changes of line, which were in process of construction at the beginning of the year, have been completed and put in operation engine house and a 53 lll-ft. 3-in. : Maximdk New LiKK. Location. gtrucUd. Degrees. DiBlanee Saved, Mile$. 2-71 S-P3 5-69 Archer to Cheyenne. Borle to BuXord *£oho to Ogden * Ft. ouhvatuhe, HileM Oon- of Gbadb, SAvmoiN •12 •12 •05 Per Mile. Old Ifev) Line. Line. 40-7 37 82 47 128 547 343 910 74-0 September 7, 1903. October 6, 1903. Bee note. to Ogden 1b 40 miles. This line was changed at eight different points, luTolTlng the conBtraotion of 5^69 mllea track, each section of the work being opened for business as soon as oompleted. The dlRtance from Echo new The work of changing the line from Ellsworth to Dorrance, Kansas, by the construction of 1"13 miles of new road (involving a saving of '06 of a mile in distance and 103 degrees of curvature, but without a reduction in the maximum grade (which is 31 feet), was commenced during the year and was nearly completed at the close of the year. EQUIPMENT. The changes in the equipment during the year were as follows Sold to San Pedro Los Angeles <6 Salt Lake MR. Co. Locomotives Baggage and express cars Baggage, express and mail oars Baggage and passenger cars Business cars Chair oars Dining oars Passenger cars Passenger and caboose oars Replacement Charged the Tear. Charged to to RoUinf/titock Re- Capital Account Fund. 17 Added During placement Fund. and Total. Assets. 64 19 68 2 2 . 3 10 1 10 4 1 Postal cars Box oars Gondola cars Htook cars 1 140 199 66 75 114 131 36 9 33 27 Other freight cars Road Destroued or Oondemr,ed, and Orediiea to service cars Amount credited or charged $183,660 45 51 550 601 50 1,050 1,100 94 107 $3,225,030 07 $3,514,097 20 13 $259,284 29 $289,067 13 The locomotives added during the year averaged 99-57 tons total weight of engine without tender and The freight cars added during the year averaged 37-78 tons capacity. The locomotives and cars owned and their capacity at the close of the year were as follows: 73"00 tons upon drivers. This Tear. Locomotives, standard gauge..... " narrow gauge ..... ..... Last Tear. ............ 854 822 ...... 2 2 856 824 61,547 56,469 . Total Per Cent. Decrease. Increase. 32 3-89 32 3-88 5,078 3-38 3,847 2-43 8^99 4-92 8-45 4-39 Total weight, excluding tenders— standard-gauge locomotives (tons) total weight, excluding tenders (tons) .... 7207 6869 49,355 57-79 45,508 55-36 ................. 556 565 ...... 1 1 557 566 .... 23,008 21,027 ....................... 40 44 22,048 21,071 Average Total weight on drivers-Btandard-gauge locomotives (tons) Average total weight on drivers (tons). .. . .... Passenger train oars, standard gauge. " " " narrow gauge...... Total Freight train cars, standard gauge '" •* " narrow gauge ........ .. ' Total Average capacity of standard-gauge cars Road (tons) .......... service cars 2,439 1-59 9 1 59 4 4-67 9-09 981 4^64 977 2819 29-12 9 3^30 •93 2,431 •33 8 The equipment owned by the respective companies is shown in Table No. 19 of pamphlet report. The changes during the year, the capacity, and the service of all equipment are shown in Tables Nos. 24, 25 and 26 of pamphlet report. TRANSPORTATION OPERATIONS. The transportation operations for the year ending June 30, 1904, as compared with the operations for the year ending June 30, 1903 (after excluding the transportation operations of the lines sold to the San Pedro Los Angeles & Salt Lake Railroad Company), were as follows : Yeae Endwo Joke rear Ending June 30, 1904. Increase. Average miles of rail lines Reckiptb. Passenger, Including extra baggage Mail and express. ........... Freight Switching' rentals and all other soorces..... ............................ , Total rail lines ..................................... Water lines Total . ... 27-71 6,325 -00 5.35271 operated 30, 1904. Tear Ending Ju7ie 30, 1903. Decretie. Per Cent. •62 $972,844 62 66,725 48 3,839,817 75 127,477 19 10-20 2-25 10 78 $54,264,878 23 $49,258,013 19 $5,006,865 04 155,412 01 858,940 43 1,014,352 44 1016 $55,279,230 67 $50,116,953 62 $5,162,277 05 lO^SO $10,508,896 3,026,813 39,452,068 1,277,099 68 69 19 67 $9,536,052 2,960,088 35,612,250 1,149.622 06 21 44 48 1109 18-09 THE CHRONICLE. Oct, 22, 1904.] TRANSPORTATION OPERATIONS 1711 —OoncJuded. Year Ending June Tear Ending Tear Ending June 30, 1904. June 30, 1903. Increase. Brought forward General expenses. Total rail lines Water 10' 10 51 $1,413,008 53 163,043 46 457,141 47 150,756 31 27-79 2*74 3-38 12-33 $27,957,122 00 1,069,485 01 $25,773,172 23 $2,183,949 77 936,882 02 132,602 99 8-47 14-15 $29,026,607 01 $26,710,054 25 $2,316,552 76 8-67 $26,252,623 66 $23,406,899 37 $2,845,724 29 12*16 $6,497,270 6.111,552 13,975,075 1,373,224 Maintenance of Maintenance of equipment Oonducting transportation lines TotaL Receipts over operating expenses Per Cent. Decrease. ^S,'62,S77 oj • Opbhating Expenses. way and structures 30, 1904. 04 19 35 42 5,084,261 5,948,508 13,517,933 1,222,468 73 88 11 Passgnobr Tkaffic. 3,863,352 487,134.976 $2,628 76 3,606,154 441,167.923 2,346 69 $148 $133 $015 7'14 10-42 7-76 13*65 10,264,811 4,053.298,460 $7,370 48 $3 68 9,435,605 3,720,037,937 6,687 74 829,206 833,260,523 $62 74 $8 38 8-79 8-96 10*21 11*52 Number of passengers carried.. Number of passengers carried one mile Receipts of passenger trains per mile of main track Receipts of passenger trains per revenut train mile Freight Traffic. Tons commercial freight carried Tons commercial freight carried one mile Receipts per mile of main track ..... Receipts per revenue train mile 257,198 45,967,053 $182 07 $3 30 Way-bill tonnage. " rail lines were operated for 51 '53 per cent of their gross receipts against 53*32 per Expenses for rail and water lines was 52-51 per cent against 5330 per cent in 1903. and for "operation" 2S'IQ per cent of the gross receipts of the rail lines. The both cent The average for "maintenance" were 23-34 per cent in 1903. The transportation receipts and operating expenses are shown in detail in Table No. 31 of pamphlet report and the and freight traffic in Tables Nos. 22 and 23 of paaaphlet report. The increase or decrease in the operating expenses has been principally in the following items: Maintenance OP Way and-Structdres.— (Increase $1,413,008 53, or 27'79 per cent). Repair? of roadway increased Renewal of crossties in$393,513-69; these expenditures include $530,791*57 for repairing damages caused by floods. creased $503,619 66; this resulted from the greater number of crossties and tie plates put in the track and the cost of burnettizing 1,098,617 crossties. Repairs of bridges, culverts and viaducts increased $191,980 61; renewal of rails, frogs, switches and fastenings increased $93,038 10, and repairs and renewals of buildings other than docks and wharves increased details of passenger $213,042 06. The following rails, crossties and tie plates were used during the year in making renewals and the cost thereof charged to operating expenses: This Tear. Miles of new70-lb. fteel rails Miles of new 80-ib. steel laiis Total miles of new steel rails Total number of cross-tiea Equal to miles Of continuous track , Percentage of renewal of all ties In track. Including sidings Numl)er of new tie plates Equal to miles of continuous track The weight of rails per yard in Mileage of Owned and Leased Main and Second Track Operated main lines Total. 1-30 219-79 219-92 2,360,934 851-05 12-47 1,333.347 194*94 196*24 1,706,706 608-53 243 06 , and branches at the 90 Lb. Last Tear. •13 close of the year 80 Xb. 85 Lb. was 70 Lb. 75 i6. as follows: 67 L6. 60 Lb. 56 Lt). at the close of the year. Main and second track Branches Total Per cent of total miles of track. 3,661-a« 1,787-26 20-20 5,449 14 100-00 20 20 43-33 •37 -80 Expenditures for maintenance of 43-33 1,176*96 48811 1-81 way and as against $940 88 for the preceding year. At the two wood-preserving plants of the 1,176-96 21*60 489-92 8-99 1,325,580 crossties Under 56 Lb. 1,578-33 13-27 17-19 23-79 321-96 902-81 4-60 613-78 11-20 231-80 1,591-60 29-21 40*98 1,224-77 22-48 618*38 11-35 24300 *75 structures have averaged $1,192 per mile of Company 8-32 600,252 107-02 4-45 main and second track operated, were burnettized. Maintknance of Equipment.— (Increase, $163,043 46, or 8*74 per cent). Repairs and renewals of locomotives increased $153,367 99; repairs and renewals of passenger equipment, $46,168 15; repairs and renewals of freight equipment, $178,914 32; repairs and renewals of road service equipment, $20,403 43, and repair.'' of shop machiaery, $41,342 70. The greater part of the increase in these expenses has resulted from the greater number of locomotives and oars in service during the year. The charges to repairs and renewals of locomotives and cars include $166,889 58, the diflference between the original cost of inventory value of old locomotives or cars destroyed, broken up or condemned during the year, and the price obtained for them dismantled or otherwise disposed of. The average cost of repairs per locomotive and per car per annum and the average number of serviceable locomotives and cars maintained during the year were: Average cost per annum. Avir. Servieable Number. Including Charge for Locomotives and Oars Destroyed, Broken up or Condemned. This Tear. Locomotives Passenger train cars Freight train cars The equipment owned by the ....IIII , re.spective companies service and the average cost of maintenance are shown ... $3,564 86 813 10 74 73 Last Tear. $3,589 88 728 48 69 59 is shown in Table No. 19 of pamphlet report, in Tables 24, 25 and 26 of pamphlet report. This Tear. Last Tear. 823 660 786 676 21,799 21,038 and the capacity, the COKDUCTINO Transpoktation.—(Increase, $457,141 47, or 3-38 per cent). Fuel for locomotives increased $213,130 19; this resulted entirely from an average increase of about 12 cents per ton in the price of coal used during the year. Locomotive service, other than fuel, increased $22,.523 27; train service $32,243 51; station and terminal expenses $161,530 83, caused mainly by the increased traffic handled; payments for the use of cars and switching payments increased $18,807 48, and other expen.se8 appertaining to conducting transportation $84,552 83. There was a decrease in payments for injuries and for loss and damage of $72,706 13. Compared with the results of the preceding year, the work done by the transportation departments shows the following gain : : THE CHRONICLE. \712 [Vol. Lxxix. Decrease. Ineretue. | 95,006,865 04 $457,141 47 45.967.053 360,050 UroBB traneportatlon reot-lptfl ExpeneeH oouductlnK tranHportatlon PasspflKPrs car) led one mile Oar mllea—paHseiigor trains Locomotive miles— paHgenRer trains, Including light and helping Tons— oommerclal freight carried one mile ToiiH— commercial and company freight— carried one mile Car mllt-H— freight trainn Locomotive miles— freight and mixed trains, including light and helping Locomotive miles- In revenue service, Including light, helping and switching. Per Cent. 10 16 338 1042 -60 350,158 370 407,694 716,389 8-^6 8-72 5-79 3-30 2-86 333,260,523 387,843,395 18,420,195 to total freight-car mileage (including caboose), for the respective properties for the year were: Oommercial and Company Freight (Wan-Bill Tonnage). Tons carried " In each train, 1904............ " Increase Percent Tons per loaded " " Increase Percent 0. c. .. . Oregon Short Line. 38205 oar, 1904. ....................................... .................. ................ ...... - ...... .... .................. .. Increase ..... ... . .••••• ... . 450-90 412-55 38-35 38-31 1-40 19-08 iy-40 23-73 23-10 19 27 930 2011 1905 19*63 68 •63 •22 •48 3-70 71-22 71-82 2 73 1-15 68-12 79-65 6706 106 76 43 2-45 71-46 71-22 3-22 -24 1-53 4-21 -34 -60 •84 ............ . 429-86 435-98 All. ""8"o'i .... . Decreaee Per cent ... ATercgt 50-42 .., ,,.,., d a. "13-20 1903 of loaded freight car mileage to total freight car mileage (Incl. caboose), 1904 of loaded freight car mileage to total freight car mileage (Inol. caboose), 1903 0. S. 516^47 478-16 432 47 ...... ......................................................... .... .............................................. ................... Decrease P. P. . 1903 " Vnion Pacific. "6-12 The expenses for conducting transportation averaged 71 '76 cents per revenue train mile, against 68-39 cents in the preceding year. This increase was caused by the greater cost of fuel and station and terminal expenses incident to the increased A traflBc. review of the general operating results by which these expenses are let report. afifected will be found in Table No. 22 of pamph- — General Expenses. (Increase $150,756 31, or 12^33 per cent.) Expenses for general administration increased $48,112 75; for legal services and expenses, $83,963 11; for general office expenses, $3,763 93, and for insurance, $45,770 18. Rentals and other expenses decreased $27,561 08, and stationery and printing decreased $3,311 58. — Water Lines. (Increase $132,602 99, or 14^15 per cent.) Expenses for "maintenance" decreased $6,248 48, and expenses for "operation" increased $138, 8M 47. The increase in the latter was principally for fuel, $14,461 91; charter of steamers, $14,699 90; steamer, barge and lug service and expenses, $38,124 59, and wharf and dock service, $52,409 58. : GENERAL. The Insurance Fund shows a gain in the year's transactions of $50,648 75. The Oregon Railroad & Navigation CJompany appropriated $50,000 from the year's Income to establish an Insurance Fund for said Company. The operations of this Fund from its beginning to June 30, 1904, are shown in Table No. 16 in pamphlet report. The operations for the year show a gratifying improvement in receipts and in economy of operations. The excellent physical condition of the properties has been fully maintained, and the increased traffic has been moved with a decrease of 716,389 locomotive miles. The average train-load was the greatest in the history of these companies since their reorganization; it reached an average of 450-93 tons per train, against 277-82 tons in 1893, an increase of 6223 per cent. APPROVED BY THE BOARD OF DIRECTORS. Attest Alexander Millar, Secretary. UNION PACIFIC RAILROAD COMPANY AND AUXILIARY COMPANIES. NO. a.— INCOME ACCOUNT FOR THE YEAR ENDING JUNE 30, 1904. Operating expenses as shown in detail in Table No. 21 of pamphlet report $29,026,607 01 Taxes 1,470,835 62 -$30,497,442 63 Interest on mortgage bonds in hands of the public. .$12,387,976 67 Interest on income bonds in hands of the public 21,945 00 12,409,921 67 Sinking fund requirements 12,013 33 Miaoellaneous expenses 29,604 85 Balance carried to appropriation of income account below 16,597,09181 Gross transportation receipts, as shown in detail on Table No. 21 of pamphlet report $55,279,230 67 $59,546,074 29 $59,546,074 29 Interest on bonds owned of companies other than Oregon Short Line and Or egon RR. & Nav. Co Dividends on stock owned of Northern SecurltiesCo Dividends on stocks owned of companies other than Oregon Short Line and Oregon RR. & Nav. Co $311,406 83 2,165,409 75 325,110 00 2,801,926 58 Balance of interest on loans and open accounts other than with Auxiliary Companies 1,464,917 04 Appropbiation of Ikcome Account. Dividends on stock of Union Paoiflo RR. Co., viz.: Two per cent on common stock, paid April 1, 1904.. $2,175,418 00 Two per cent on preferred stock, paid April 1, 1904. 1,991,078 00 Two per cent on common stock, payable Oct. 1, 1904. 2,175,418 CO Two per cent on preferred stock, payable Oct.1,1904. 1,991,178 00 Dividends on stocks of Oregon RR. & Nav. Co., in hands of the public, viz.: Two per cent on preferred stock, paid Jan. 1, 1904.. 272 00 Two per cent on preferred stock, payable July 1,1904. 272 00 Balance from income aocountabove $16,597,091 81 Total dividends $8,333,636 00 Appropriation for insurance fand. Ore. RR & Nav. Co. 50,000 00 Approprlatedlfor betterments and aad. duiing the year 1,500.000 00 Reserve for the purchase of new equipment 1,500,000 00 Reserve for future betterments and additions 500,000 00 Balance to profit and lost (^0. 3j 4,713,455 81 $16.597,091 81 $16,597,091 81 NO. 3— PROFIT AND LOSS FOR THE YEAR ENDING JUNE Balance of unfunded discount and premium on capital Issues charged off $167,780 00 Surveys charged off 73,640 28 Balance June 30, 1904 26,005,681 71 Balance Jane 30, 1903, Income account Sinking funds 30, 1904. viz.: $20, ,297,988 84 834,251 34 $21 ,132.240 18 Balance from Income account (No. 2) 4, ,713,455 81 Sinking fund contributions and income from sinking fund investments 35,843 55 225,590 35 Proceeds from sales of unpledged lands and town sites Interest cjUeoted which had accrued on open accounts 75,907 54 prior to July 1, 1903 15,240 40 Other collections. 48,824 16 Adjustments in aoconnts.... $26,247,10199 $26,247,101 99 . .. Oct. THE CHRONICLE. 22. 1904.] 1713 NO. 4-A89ET8 AND LIABILITIES. LIABILITIES. Capital Liabilities$108,770,900 00 Union Pacific RR. Co. common stock 99,558,900 00 Union Pacific RR. Co. preferred stock Outstanding stocks of Auxiliary Companies viz.: 10,000 00 Oregon Short Line RR. Co common stock. 20,^10 00 Oregon RR. & Navigation Co. common stock 14,660 60 Oregon RR & Navigation Co. preferred stock Funded debt after deducting bonds of Auxiliary Companies owned (Table No. 10 of pamphlet report) .. 289,741,500 00 $498,116,170 60 ASSST8. OaptxaIj Assets^" .$353,637,196 93 Cost of railways, equipment and appurtenances 151,607 87 -•-• -••:• Cost of eK tensions "„ Stocks and bonds owned, as detaUed In tables No. 6 ,^„„„, ^„, ^^ 139,927.57150 and 7 of paa phlet report zdb,b76 bb Trust funds v.-u— $493,953,049 96 C0RKKNT Assets— fl,-«„ -„„ „„ .y^„.'^?SI: 3,524, ^57 64 1,686,801 69 Agents and conductors Cash Individuals' and companies Material, fuel and supolles 4,245,932 55?'^R? 805.905 20,460,927 884,655 $32,521,905 Traffic balances U.S. Government transportation Loans to Soutbern Pacific Co BUls receivable Advances for the construct, and acquis, of new lines. Payments for account of San Pedro Los Angeles & Salt Lake RB. Co Ocean steamships "Manchuria" and "Mongolia" Boiling stock Due from sundry proprietary companies Contingent assets— Land and town lot contracts.- Current Liabilities— Coupons matured but not presented Coupons due July 1, 1904 Interest accrued on bonds and loans to June 30,1904 Loans and bills payable Vouchers and pay rolls Dlvlaends payable July 1 and October 1, 1904 Unpaid dividends 6;-! ii^ 75 43 44 81 15 00 71 00 65 00 00 $:£5,050,562 51 Deferred Liabilities— Taxes assessed but not due Due to sundry proprietary companies $4,357,276 71 14.960.000 5,055.310 3,181,227 331,221 $27,886,036 $130,400 2,528,005 1,963.309 13 128,000 3,113,839 4,167,072 19,936 00 92 35 89 $780,534 25 809,303 72 $1,589,837 97 ~ Contingent Liabilities— Insurance Jund Trust accounts 8; $297,426 91 175,879 79 114,442 40 3,000,000 00 9,990 75 2,352,651 49 Replacement funds... Reserve fund for bett., additions and new equip Unadjusted claims and accounts Prln. of def. payments on land and town lot contracts $2,352,651 49 $6,950,391 34 Balance toeredit of profit and $556,712,644 13 T.tal assets NO. 5.— STOCKS $556,712,644 13 Total liabilities AND BONDS OF THE UNION PACIFIC RAILEOAD COMPANY AND AUXILIARY COMPANIES JUNE Owned by Union Total Issued Amount and in Ilands of Outstard'g. Public, Juneso,i(;o4 June jo,tgo4. ^nion Pacifle RR. Co. Pacific Railroad Oregon Short BR. Lne Co. Stocks. $ $ $ $ 108,772,900 108,770,900 2,000 Union Pacific RB Co (Common Stock ....... 99.567,100 99,558,900 ... 8,200 Union Pacific RR. Co Preferred Stock 10.000 27,340,700 ""169,400 27,460,100 Oregon Short Line BR. Co. Capital Stock. 20,210 23,979,300 24,000,000 Oregon RR. & Navigation Co. Common Stock 14,e60 Oregon RR. & Navigation Co. Preferred Stock... 11,000,000 9,885,473 976,900 . & Terminal Co. Capital Stock . St. Anthony RR. Co. Capital Stock Salmon River RR Cj. Capital Stock Wyoming Western BR. Co. Capital Stock Boise City Ry. $26,005,681 71 (N0.3) loss 22.900 40.000 110,000 50,000 271,023,000 208,374,670 61,215,673 Total dk Of the Tot. Owned there is Total. Nav. Co. $ $ Pledged. Unpledged. $ $ 22,900 40.000 110,000 50,000 2,000 8,200 27,450,100 27,S34,700 490 23,979.790 23,914,900 122,966 10,985.339 9,876,200 22,900 40,000 110.000 50,000 2,000 8,200 115,400 34,890 1,109.139 22.900 40,000 110.000 50,000 1,309,200 123,456 62,648,329 61,155,800 1,492,529 . .... Company and Auxiliary Companies Oregon RR. 30. 1904, Bonds Un. Pao. BB. Co. 1st M. RR. & Land Grant 4 p.o 100,000,000 100.000,000 Un. Pac RR. Co. First Lien Convertible 4 p. 0. 87,257,000 87,257,000 Union Pacific RR. Co. 5 p. c. Collateral Notes... 10,000 000 10,000,000 Oregon Short Line RR. Co. Consol. 1st M. 5 p. c 12,328,000 12,328,000 Oregon Short Line RR.Co. Non Cum. Income A 395,^00 "67751 ',600 '""38,506 7,185,000 Ore. Sh't Line RR. Co. Col. Tr. NonCum. In. B.. 14,841,000 53.000 14,788,000 Ore. Short Line RR Co. 4 p. c. and Participating 82,491,000 36,500,000 45,991,000 Oregon Short Line Ry. Co. Ist Mortgage 6 p. c. 14,931,000 14,931,000 Utah <k Northern By. Co. Ist Mortgage 7 p. 0.. 4.993.000 4,99^,000 Utah A Northern Ry. Co. Consol Mortg. 5 p. 1.802,000 1,802,000 "506,80'0 Ore. BR. * Nav. Co. 4 p. c. Consol. Mortg. Gold 21,958,800 21,479,000 Oregon Ry. & Navigation Co. Ist Mortg. 6 p. c. 3,000 3,000 . "6'.789',506 '6.789,560 6,312,000 14,788,000 8,476',006 45,991,000 13,852,000 32,139,000 '""5'66,8'66 *"806,8"00 Total 357,816.800 289,741, .500 67,530,000 38,500 506,800 68,075,300 22,328,000 46,747.300 Total stocks and bonds 628,839,800 498,116,170 128,745,673 1,347,700 630,256 130,723,629 83,483,800 47,239,829 NO. 6.— STOCKS OF OTHER COMPANIES JUNE 30, 1904. owned by Union Pacific Railroad Company and Auxiliary Companies, Total Issued Amotmt in Ilands of ani Public. Oulstand'g, Junejo,/go4 Tune3o,igo4. Union Oregon Pacific RR. Oo. Short Line BR. Co. Cascade RR. Co. Capital Stock Columbia & Palouse RB. Co. Capital Stock 300,000 1,000,000 Deseret Salt Co. Capita' Stock| 50 000 Green River Water Works Co. Capital Stock... 225,000 Leavenworth Kun. & West. Ry Co. Capital Stock 1,000,000 Leavenworth & Topeka Ry. Co. Capital Stock... 25,000 50,000 Leavenworth Depot <fe RR. Co. Capital Stock 100.000 150,000 Mill Creek Flume & Manufg Co. Capital Stock.. 200,000 Northern Securities Co. Capital StocK Occidental & Orient il SS. Co. Cdpltal Stock 1,250,000 10,000.000 Ogden Uulon Ry. <fe Depot Co. Capital Stock 150.000 300,000 Pacific Kxpress Co. Capital Stock 3,600,000 6,000,000 Portland (Oregon) Chamber of Commerce Rattlesnake Creek Water Co. Capital Stock 78,300 Short Line Land <fe Improvom'i Co. Capital Stock 60,000 100,000 Southern Pacific Co. Capital Stock 197,849.2iP 107,849,258 Spokane Union Depot Co. Capital Stock. 125.000 Topekalron Co. Capital Stock 55.00< 110,000 Union Depot A Ry. Co (Denver) Capital Stock.. 160,000 4 0,1.000 Union Depot Co. (Kansae City) Capital Stock ... 450,000 495,000 Union Land Co. Capital Stock 10.000 Union Pacific Coal Co. Capital Stock 5,000,000 Union PafiHc Land Co. Capital Stock 100,000 Union Pacific Water Co Capital Stock 500 Utah Lime A Cement Co. Capital Stock 25,000 Walla Walla & Columb. Rl v. RB. Co.Oapltal Stock 700,000 . Total Oregon RR. <t Nav. Co. 300,000 1,000,000 Of the Tot.Owned there is Total. Pledged, 300, 000 50,000 225,000 1,000 000 1,000,000 25 ,000 200.000 82,491,871 8,750,000 1.50,000 2.400,000 1,000 5o: ,000 200,000 200, ,000 82,491, ,871 82,491,000 8,750, ,000 150, ,000 2,400, ,000 1, 000 78, 300 50, 000 78,300 50,000 90,000,000 90,000, 000 12o, 000 125,000 00 65, 000 240.000 45,000 10,000 5,000,000 100,000 240, 000, 65,« 300,000 1,000 ,000 1,000,000 50 000 225 000 50,000 225,000 1,000,000 25,000 80,000 45, 000 10, 000 500 25,000 700.000 Unpledged. 5,000, 000' 100, 000 500, 25. 000; 70J, 000 25,000 50,000 871 8,750,000 150,000 2,400,000 1,000 78.300 50,000 90,000,000 125,000 55,000 240.000 45.000 10.000 6,000,000 100,000 5'o"6 25,000 700,000 18,263,800 172,617,871 2.200,000 193,071 ,671 86,791 ,000 107,280,671 . THE CHRONICLE. 1714 [Vol. lxxix. NO. 7.— BONDS OP OTHEB OOMPANIES JUNE 30, 1904. Ouned by Union Paex/U BaUroad Company and AiueUiary Oompaniet. Total Iiiued Amount in llandi of and Oulitand'g, Fublic, Junejo,igo4. June jo,igo4 AtohUon Union Depot & RR. Co Seo. Mtge. 5 p.o. Cheyenne County, Colorado, RefundlnK 5 p. o... City of Juno. City, Davis Co., Kan., Int Imp. 6 p.o. Co. First Mtge. 6 p. o... OolumblaA Palouso RR. Columbia Southern Ry. Co. First Mtjre. p. o Green River Water Works Co. First Mtge. 6 p. c. Leavenworth & Topeka Ry. Co. First Mtge. 4 p.o. Leavenworth Depot & RR. Co. First Mtge. 5 p c. Northern Pacific Terminal Co. First Mtge. 6 p.o. Ogden Union Ry. & Depot Co. First Mtge. 6 p. o. Rattlesnake Creek Water Co. First Mtge. 6 p. c. Sumpter Valley Ry. Co. First Mortgage, ti p. c... Union Paoltlc Coal Co. First Mortgage 5 p. c Union Paolflo Land Co. Fiist Mortgage 4 p. o ."> 8 Union Oregon Pacific RB. Co. Short Line RR. Of the Tot. Owmd tltereU Oregon BR.d: Nav. Co. Co. Total. Pledged. $ 36.000 26.200 5,000 2,829,000 700,000 208,000 169,000 150,000 3,697.000 326.000 146.000 150,000 5.000,000 10,000,000 31,500 4,500 26,200 5,000 4,500 26,200 5,000 2,829,000 2,829,000 700,000 208,000 79,500 63.000. 132,000. 2,829,000 700,000 79,500 87,000 3,565.000 163,000 88,000 628,000 Total. 208,000 79,500 63,000 132,000 163,000 146,000 146010 15,067,200 64,0003,661,000 18,792,200,17,201,000 1.591.200 64,000 OWNED JUNE 30. 1904. Of which Public June so, Total. iqo4. 9 Stocks of Un. Pac. RR. Co. and Auxiliary Cos.. as sho-wn In Table No. 5 271,023,000 208,374,670 60 62,648,329 40 193,071,671 00 Stocks of other companies fts shown in Table No. 6. ....... ..•..•••.... ... Total stocks and bonds ... remains Unpledged. $ 61,155,800 1,492,529 40 85,791,000 107,280,671 00 22.328,000 17,201,0C0 45,747,300 00 1,591,200 00 ........... 86,867,500 00 39,529,000 47.338,500 00 ..................................... 342,587,500 40 5. 357,816,800 289,741,500 FiBST Railkoad and Land Gbant Pacific Pacific Faice 4% Mortgage— Land Co. First Morti,age 4% Bonds Land Co. OapitalStock $10,000,000 $100,000 $10,000,000 First Lien Convertible 4«6 Mobtoagk— Union Pacific Coal Co. First Mortgage 5% Bonds .......... Leavenworth Kansas & Western Ry. Co. Capital Stock Railroad Capital Oregon Short Line Stock Co. Oregon Short Line Railroad Co. Income B. Bonds Oregon Short Line Railroad Co. 4% and Participating Bonds Oregon Railroad & Navigation Co. Common Stock Oregon Railroad & Navigation Co, Preferred Stock... Four Per Cent and Participating Northern Seountles Co. Capital Stock ..... $4,372,000 .. 8,476,000 352,000 $100,000 $1,000,000 27,334,700 23,944,900 9,876,200 $13,200,000 $62,155,800 $13,500,000 Mortgage— $82,491,000 Four Per Cent Coksolidated Mortgage— Columbia & Palouse Railroad Co. First Mortgage 6% Bonds Columbia & Palouse Railroad Co. Capital Stock Mill Creek Flume & Manufacturing Co. Capital Stock Walla Walla & Columbia River Railroad Co. Capital Stock $2,829,000 $1,000,000 200,000 600,000 .". TION COMPANY. Value of Bonds Pledged. Stocks Pledged. Five Per Cent Collateral Notes Trust Agreement— Oregon Short Line Railroad Co. 4% and Participating Bonds...... OREGON SHORT LINE RAILROAD SOO 156,111,700 40 Face Value of Character of Stocks and Bonds Pledged. Union Union UNION PACIFIC RAILROAD COMPANY. l«fi-4.7.«i AND BONDS OWNED PLEDGED AS SECURITY UNDER INDENTURES. Pledged under Indenture of OREGON RAILROAD & NAVIGA- there there is Pledged. 00 68,075,300 00 18,792,200 00 No. 9.-8T0CKS COMPANY, And Co. 255,720,000 40 146,946,800 108,773,200 40 ...... ..................... . 64,000 Owned hy Union Paeifie Railroad and AuMliary Companies. Amount in Hands of and Total bonds ......... 16:1,000 4,372,000 10,000,000 Outstand'g, June30,/go4. Bonds of Un. Pac. RR. Co. and Auxiliary Cos. as shown In Table No. Bonds of other companies as shown In Table No. 7 700,000 208,000 79.500 63.000 132.000 146,000. 64,OO0L 4,372,000 4,372.000 10,000.000 10,000,000 Isnied ..... .......... 4,500 26,200 5,000 163,000i NO. 8.— RECAPITULATION OF STOCKS AND BONDS Total stocks............... Unpledged. Oregon Railway A Navigation Co. First 6% Mortgage— $2,829,000 $1,800,000 Cascade Railroad Co. Capital Stock Walla Walla & Columbia River Railroad Co. Capital Stock. f300,000 100,000 $400,000 Total _ $39,529,000 $146,946,800 THE WABASH RAILROAD COMPANY. EXTRACTS FROM THE FIFTEENTH ANNUAL REPORT-FOR THE FISCAL YEAR ENDING JUNE St. Louis, Mo., October Ist, 1904. To the Board of Direct' J. rs. The Wabash RR. Co. Mr. George , Oould, Chairman: Dear Sir— The report for the year ending June 30, 1904, which I hare the honor of submitting herewith, while showing a large increase in gross earnings, $1,882,797 69 being the seventh year of continuous increases, 1904 of $11,496,839 27 over 1897), also shows that this increase in earnings was ofifset by a corresponding (this showing an increase increase in expenses. The conditions aflfecting operating expenses during the past year were to a certain extent unuaaal: in fact abnormal. 30, 1904. A. In April, 1903, wages of trainmen on the Western Division were advanced 12 and 15 per cent and promises made which resulted in a similer advance on the Middle Division, these two advances covering two-thirds of the System. In addition, wages of engineers and firemen, shopmen and other classes of labor, were more or less advanced. The total increase in expenses due to these changes in rates of pay and rules of service aggregated about $400,000. B. During January, February and March and a part of April we had the severest winter, with lowest temperature and worst storms, all over the System, than ever known in the history of the Company, not only reducing the earnings but largely increasing the expenses of operation. Oct. THE CHRONICLE. 22, 1904.] C The cost of fuel was higher than ever for the first ten months of the year before, being nearly 30 per cent more than the previous year. -.ir ^.i, ij, r. D. The work of preparmg the Ime for the World's Fair traffic was pushed vigorously and added largely to the expense account. The detailed statements of expenses will clearly show what was done in this line. During the past four years the reduction of grades and improvement of the line between St. Louis and Chicago have been under way and are now practically completed, so that trains north-bound can be made up for a ruling grade of 21 feet per mile, instead of from 50 to 60 feet per mile. The cost of the work to date has been $617,300 00. During the year, in order to comply with the requirements of the statutes of some of the States through which our • passes, it was necessary to increase the capital stock to such amount as would make it equal the authorized, and the stockholders, on March 22, 1904, $50,000,000 to the Common Stock. System of the bonds added Company THE WABASH PITTSBURGH TERMINAL RAILWAY COMPANY. In 1901 the stockholders of the Company authorized the officers of the Company to enter into certain trackage and Lake Erie RR. Co. traffic agreements with the Wheeling & 1715 The loaded cars per train decreased 016 cars; the loid per car decreased 0-68 tons and th^ revenue train-load was 286-31 tons, against 301-76 tons last year, a ^^ecrease of 15 '42 tons, 5-11 per cent. The actual train load, including company freight, was 315-94 tons, against 331-29 tons last year. " decrease of 1-02 per cent in ''services rendered, " tons carried one mile," there was an increase in freight revenue of $737,178 06 (5-53 per cent), with an increase of $1,435,666 58 (13'92 per cent) in expenses of freight traffic. While the increase in freight tonnage was 7,481 tons (0-08 per cent), the increase in freight train service was 4'31 per With a t. e,, 1 cent. PASSENGER TRAFFIC. " Passengers carried one mile " increased 39.171,893 (11-87 per cent) and in revenue $910,024 44 (14 83 per cent). There was an increase of $43,915 70 on the Buffalo Division and an increase of $866,108 74 on the Wabash proper. The rate per passenger per mile was 1-908 cents, an increase of 0-049 cents, and expenses per passenger per mile 1-607 cents, a decrease of 0-060 cents, leaving 0-301 cents per mile net, as against 0*192 cents last year, a gain of 56-77 per cent. Train earnings per mile were $1-0592, a gain of 9-08 cents; Western RR. Co. to secure the expenses were 73-26 cents per train mile, an increase of the construction of a line of railroad from a point on the 1*94 cents, and net earnings per train mile were 33 -68 cents, Wheeling & Lake Erie RR. near Jewett, Ohio, to Pittsagainst 25-53 cents in 1903. burgh, with necessary terminals and connecting railways in The "passengers carried one mile" increased 11 -87 per Pittsburgh, with a close traffic alliance between the three and the Pittsburgh Carnegie & contracting railroads, so as to practically make them agreement was afterwards modiThis one system. that the fied and the amended agreement provided Wabash and Wheeling & Lake Erie Companies should, if it became necessary so to do, pay 25 per cent (or so much thereof as might be required to meet any deficit on the bonds of The Wabash Pittsburgh Terminal Ry. Co.) of the gross earnings of either company from traffic which they received from or delivered to the Wabash Pittsburgh Terminal Ry. This condition puts no burden on either company, as they will not be required to pay anything unless they have increased earnings on account of the Wabash Pittsburgh Terminal Ry. lines. The Pittsburgh Carnegie & Western RR. Co., through consolidation with the Cross Creek RR. in West Virginia and the Pittsburgh Toledo & Western RR. in Ohio, became the Wabash Pittsburgh Terminal Ry. Co., and the latter Company has carried out or is carrying out, all the obligations assumed by the Pittsburgh Carnegie & Western RR. Co. On July 2, 1904, the line was opened for through passenger traffic and through train service between St. Louis, Chicago and Pittsburgh by Wabash trains. The Wabash Pittsburgh Terminal Ry. Co. also purchased a controlling stock interest in the Wheeling & Lake Erie RR., thus owning and controlling some 550 miles of raifway lines reaching from Pittsburgh to Toledo, Cleveland, Wheeling, Steubenville and Zanesville, the greatest freight tonnage territory in the world, the Pittsburgh district alone last year consaming and shipping over 86,000,000 tons of coal, coke, ores, iron, steel, manufactures and merchandise. A proposition was submitted to your Board for the pur chase by the Wabash Company of all the stock of the Wabash Pittsburgh Terminal Railway Co. ($10,000,000 00), by the issuance of $10,000,000 00 Wabash common stock in exchange therefor. As the ownership of the stock of the Wabash Pittsburgh Terminal Railway Co. carried with it the controlling interest in the Wheeling & Lake Erie Railroad, your Board authorized the purchase, and the exchange of stocks was made. Your Board at the same time authorized the purchase of cent, while the cost of passenger train service increased 7-85 per cent, and the actual number of passengers carried was 6,183,474, an increase of 234,561 (3 94 per cent). of The Wabash Pittsburgh Terminal Ry. Co. for $6,000,000 00. This purchase was made and paid for through the issuance of a three-year obligation, secured by the $6,600,000 00 of bonds as collateral. It is confidently expected that the control of these properties and of the traffic secured to the Wabash thereby will add largely to the revenues of the Company. The outlook for the fiscal year end ng June 30th, 1905, is excellent. Our passenger traffic is enormous and will remain HO until the end of the Exposition, November 30th, and the freight traffic, while below last year's (1903), is still above 1902, and I look for improvement in it before the end of the year. The gross earnings will exceed $24,000,000 00 for the year. The coLdition of the property— tracks, roadbed, bridges, stations, rolling stock and motive power has been greatly improved during the year. The extent of this work will be shown by the detailed statement herein of principal re- Conducting .$6,600,000 00 First Mortgage Bonds placements and improvements. FREIGHT TRAFFIC. The freiglit traffic statistics show a decrease of 22,:393.325 (1-02 per cent) in "tons revenue freight carried one mite." at an average rate of 0-6464 cents per mile, an increase of 00101 cents (6 61 per cent), at a cost per ton mileof0"5400 cents, an increase of 00708 cents (1509 per cent), leaving a net profit of 0-1061 cents as compared with0l37l cents last year, a decrease of 0-0307 cents (22-39 per cent). The average revenue per freight train mile was $1-8510; expense per mile $1-5463, and net earnings $0 3017, against $1-8297, $1-4159 and $0 41.38 respectively last year. The total freight train mileage was 7,598,295, an increase of 314,137, or 4-31 per cent. STATISTICS. The following statement gives in condensed form the revenues, expenses, charges, etc., for the fiscal year as compared with the previous year : 1903-04. Total revenue of the Company from all sources was $23,513,332 70 Expenses of Operation, including taxes, track rentals and miscella19,250,873 18 neous $21,608,756 88 $4,262,459 52 3,092,422 72 4,257,951 4S 3,034,512 60 $1,170.036 80 591,446 10 $1,223,438 88 253,132 15 $578,590 70 $970,306 73 Interest on Bonds Net Revenue Additions to Property 1902-03. 17,350,805 40 Sinking Fund Charges, account newequipment; steamers 459,299 54 664,156 65 Dividend on Debenture "A" Bonds. $119,291 16 105,000 00 $406,150 08 210,000 00 $14,291 16 $196,150 08 & Loss Surplus to Profit Account EARNINGS. Fer Per Gent. 1903-04. 1902 03, 6109 14,064,656 81 63 04 13.327,4-'8 75 30-60 7,045.525 29 2902 6,135,500 85 Freight Passenger Mails 3-61 Express 232 Miscellaneous... 3 38 830,928 23 533,703 85 548,812 45 3 39 2-20 235 Cent. 497,00106 $ 06 44 14 66 39 BXPGNSES. Per Per Maintenance of 716,200 09 464,645 19 Increase. 737,178 910,024 114,728 69,058 51,808 21,140,828 94 1,882,797 69 23,023.626 63 Total Way & Otnt. 1903-04. Oent. 1902-03. Increaae. $ $ Struct- 2340 3.700,961 69 •19,353 69 ..19-64 3,473,001 68 19 69 3,114,663 95 358,337 73 Transportat'n.? 6-43 General Exp'n's. 311 9,978,628 79 53-82 5!=,0,270 38 309 8,511,277 61 1 ,467,351 18 488,759 07 61,511 31 20-82 ures 3,681.603 00 Maintenance of Eqaipinent Total * 17,683,508 85 15,815,662 32 1,867,846 53 Decrease. The principal items of increase in Conducting Transportation were Fuel for locomotives, $456,427 23; engine and round-house men. $215,513 37; train men, $148,496 13; station : service, $108,6" 1 07; car mileage balance, $150,239 07; etc., $112,731 71. switch- men, watchmen, The total MOTIVE POWER DEPARTMENT. amount expended for repairs of engines was $1,508,614 14, e(iual to $2,857 22 per engine for 528 engines, the average number on hand during the year. CAR DEPARTMENT. The expenses of this department for the year ending Jun e 30th, 1904, were, as last year, above the normal, on account of application of air brakes to our freight cars, vestibules, steam heat and gas to our passenger cars, and new freight and passenger eciuipment purchased. We have a contract with the American Car & Foundry Co. for 500 box, 500 coal and 200 furniture cars, on a luileige basis, running to July, 1909, when the mileage payments will be complete and the cars belong to the Wabash Co. On this account the monthly mileage payments are .$7,194-70. On this contract there was paid during the j'ear ending June 30th, 1901, the sum of $66,337-12. Respectfully submitted, J. RAMSEY, Fraident : THE CHRONICLE. I71G [Vol. lxyix. CHICAGO ROCK ISLAND AND PACIFIC RAILWAY COMPANY. TWENTY-FOUR ni ANNUAL REPORT— FOR THE FISCAL YEAR ENDING JUNE To the Stcckhobferg of the Uaxlicay The increase in operating expenses, while largely due to the increased cost of wages and high prices for materials, has also been caused by exceptional conditions, the more notable being the coal strike in the Colorado fields and the increased mining rates in the Indian Territory and Kansas, which resulted in a material increase in the purchase price of fuel, as well as entailing additional expense in transporting company coal over long distances. The cost of fuel for locomotives consequently increased over last year $1,006,259.22, or 28.42 per cent. Conditions in the coal market being now more nearly normal, contracts for fuel recently made and now making are at more reasonable figures, and promise a better showing in this Chicago Rock Island and Pacific Company: The Board of Directors herewith submit their report of the operations aud affairs of The Chicago, Rock Island and Pacific Railway Company for the fiscal year ended June 30, 1904. They have included therein operations and ahairs of the operated lines and auxiliary companies forming the Rock Island System. The reports heretofore rendered have included only the operations of the lines owned or leased by The Chicago, Hock Island and Pacific Railway Company, exclusive of lines operated company under separate managements, in which your interested through ownership of at least a majority of the capital stock. In order to make exhibits comparative, the figures for the last preceding year have been restated to meet changed conditions, due to including in this report the operations of the auxiliary companies. The lines thus forming the Rock Island System are the follow ing is particular. The expenditures for maintenance of equipment increased over last year to the extent of $943,073.38, or 22.6 per cent. This, together with the increased cost of coal, constitutes the major part of the increase in operating expenses. During the year very considerable increases were made in the wages of train, engine and station men, the advances being approximately five to fifteen per cent., through new schedules and agreements, in accordance with existing conditions on lines throughout the west. In common with other lines, we have had a large increase in the "Loss and Damage" freight account $265,564.60. By better supervision, loading, checking, etc., it is hoped to reduce this expense. "Injuries to Persons" account increased $182,122.69. This is, to a considerable extent, accounted for by the catastrophe near Willard, Kan., in January, 1904. MILEAGE OPERATED. C, R. C, R. C, R. I. I. I. Miles & 3d Track. Miles of Road. & P. Ry & E. P. Ry & G. Ry Miles 2(1 Siding's. t,430.35 15.46 57.88 288.00 6,760.74 111. r,n 386.68 ' 288.00 7,258.92 Average mileage operated during the year, — 1.503.69 7,20."). 14. The operations of the lines forming the Rock Island System for the fiscal year as compared with the previous year were as follows: 1903-04. 1902-03. CAPITAL STOCK. Inc. or Dec. rhe capital stock of The Chicago, Rock Island and Pacific Railway Company outstanding at the close of the last fiscal year was $74,817,100, which has been increased during the year by issue of $1,000 in exchange for a like amount of capital stock of the Burlington, Cedar Rapids and Northern Railway Company. The remaining shares authorized but unissued are reserved to exchange for $172,200 stock of the Burlington, Cedar Rapids and Northern Railway Company and $9,700 stock of the Rock Island and Peoria Railway Company. Tihe amount shown as outstanding June 30, 1904, repre- Gross tr.xnsporta-tion receipts ..$44,969,491.42 exp e r ating penses 31,774,893.29 .$44,376,619.91 I.- O Net earnings. and rentals . . .$13, 194, 59S. 13 Balance Other income Surplus able for 8,500,233.4*5 . 28.059,164.65 1. $592,871.51 3,715,728.64 $16,317,455.26 D. $3,122,857.13 8.416,030.95 84.202.51 I. $4,694,364.67 1,333,833.05 $7,901,424.31. D. $3,207,059.64 337,653.55 1,671,487.20 D. $6,028,198.32 $9,572,911.51 D. $3,544,713.19 availdivi- dends sents: The Chicago, Rock Island and Pacific Railway Co., issued and outstanding. $74,818,100.00 Capital stock of the Burlington. Cedar Rapids During the year dividends were paid as follows: Capital stock of $1,496,250.00 % January, 1904, 1%% 935,163.75 April, 2,244,396.00 1904,3 % July, 1,309,250.25 1904, 1%% Total S $5,985,060.00 % EARNINGS AND EXPENSES. October, 1903, . 2 and Northern Railway Company and Rock Island and Peoria Railway Company outstanding, for the purpose of taking up which there is reserved a like amount of the capital stock of The Chicago. Rock Island and Pacific Rail- way Company , . . last 145,957 tons. » • *^^ . . FUNDED DEBT. As authorized by vote of the stockholders of The Chicago, Ro9k Islaud and Pacific Railway Company at special meeting March 21, 1904, the company has made a mortgage to Central Trust Company of New York and David R. Francis, Trustees, to secure an issue of bonds designated as "First and Refunding Mortgage Gold Bonds." These bonds are dated April 1. 1904, are authorized to be issued in an aggregate amount not exceeding $163,000,000, While the tonnage as a whole shows an increase over the previous year, an analysis shows that the principal increases have been in low-class freights (forest products, mineral products and miscellaneous commodities) and in grain, while the commodities yielding a higher rate (cattle, manufactures and general merchandise) have decreased materially. The serious demoralization of grain rates which prevailed throughout the winter and spring months resulted in our moving an increased tonnage (witli the consequent expense) without a compensating increase in receipts. In view of the fact that approximately twenty-two per cent, of system tonnage is derived from grain and grain products, the loss in both gross and net earnings on this account was material. The falling off in the tonnage, and consequent decrease in the earnings from transportation of cattle, is due very largely to the short corn crop in a considerable portion of our territory. Anothei- source of loss to your company has been the industrial hesitation, if not depression, which has prevailed in almost all branches of trade throughout the country. It is reflected in the very material decreases shown in the best paying class of commodities handled, our manufactured products decreasing from 1,891,767 tons in prior year to 1,591,073 tons in the current year, and merchandise traffic from 947,011 tons to 801,654 tons: a decrease in the first Instance of 300,694 tons and in the 181,900.00 Total authorized capital stock of The Chicago, $75.000„000.00 Rock Island and Pacific Railway Company. The increase in gross earnings was $592,871.51 or 1.34% The increase in freight earnings was. .$249,725.02, or 0.81% The increase in tons moved (excluding company freight) was 266,919. or 2.01% The increase in tons moved (including company freight) was 1.046,218. or 6.62% The increase in tons moved one mile (excluding company freight) was 263.172.770. or 8.81% The increase in tons moved one mile (including company freight) was 370.804.327. or 11.27% . 1904, 30, bear interest at a rate not to exceed four per cent, per annum, and mature April 1, 19^4, unless previously called for redemption at 105 and accrued interest at any time prior to April 1, 1911. The mortgage provides for the issuance of these bonds as follows: $1.', 000,000 on April 1. ]9ii4. in partial reimbursement for treasury funds heretofore expended in the construction and acquisition of new lines. These have been issued. : i $82,025,000 are reserved for retiring, taking up or acquiring, at or before maturitv. the following issues: $12,500,000 The Chicago. Rock Island and Pacific Railway Conipanv general mortgage fours, hereafter to be issued for retiring at maturity $12,500,000 Chicago. Rock Island and Pacific Railroad Company first mortgage sixes of 1917; $25,900,000 The Chicago. Rock Island and Pacific Railway Company general mortgage fours, hereafter to be issued at a rate not exceeding $1,000,000 per year, for additions, improvements and betterments to the property covered by the general mortgage; $8,106,000 Burlington. | i Company Cedar Rapids and Northern Railway hereafter to be fives, consolidated issued for retiring (a) $6,500,000 Burlington. Cedar Rapids and Northern Railway Company first mortgage fives of 1906. and (b) $1,905,000 Ced.Tr Rapids, Iowa Falls and Northwestern Railway Company first mortigage fives of 1921; —— — Oct. THE CHRONICLE 22, 19U4.J $5 500 000 PROPERTY AND FRANCHISES. Choctaw, Oklahoma and Gulf Railroad Company consolidated lives, hereafter to be issued for re- Choctaw, Oklahoma and Gulf Railroad Company general mortgage fives of 1919; tiring $22,410,000 During the year expenditures were made: For construction of extensions and completion $5,500,000 The Chicago, Rock Island and Pacific Railway gold fours of 1902 (for which there is deposited as collateral Choctaw, Oklahoma and Gulf stoc-k which will come under the new mortgage), maturing in equal annual instalments until Company 1918; 6% notes of 1905 of D. R. Francis, secured by pledge of one-half of all bonds and stock of St. Kansas City and Colorado Railroad Company; $2,250,000 67o notes of 1905 of John Scullin, secured by pledge of one-half of all bonds and stock of St. Louis, Kansas City and Colorado Railroad Company; $450,000 Rock Island and Peoria Railway Company con$2,250,000 Louis, C. R. have been issued between April 1904, as enumerated below. 1 $1,774,000 and June 30, $13,500,000 are reserved to be issued to provide funds to the amount of 75% of the purchase price of securities of other companies w^hich may hereafter be ac- quired by the Railway Company, and which are to be pledged as further security for the new issue. $27,475,000 are reserved to be issued (but not to exceed in the aggregate $2,500,000 per annum, from January 1, 1904, cumulative) to the amount, at the then market value of the new bonds so issued, of the cost of future improvements or betterments, including equipment, to the properties covered by the first and refunding mortgage. $25,000,000 are to be held by the Trustees, to be issued from time to time as the Company shall furnish to the Trustees certificates stating that it has, subsequent to January 1, 1904, expended an amount of cash equal to the then market value of the new bonds so issued, for the acquisition of property which the Railway Company may lawfully acquire, or in permanent improvements or better- ments, including equipment, of the railroads subject to the first and refunding mortgage. This issue of bonds will provide for the refunding quirements of the system tor the ensuing thirty years. The system funded debt as of June 30, 1903, was The Chicago, Rock Island and Pacific Rv. Co... Choctaw, Oklahoma and Gulf Railroad Co Total re- $95,176,000 16,922,000 $112,098,000 To which should be added— Bonded indebtedness of the Burling- & P. By. Co.— $184,884.28 14,666.76 21,107.13 18,024.29 M 8,826.73 Red River to Fort Worth, Tex Texhoma (Texas State Line) to Bravo, Tex. Texola (Texas State Line) to Yarnall, Tex. due 190G $6,500,000 Cedar Rapids and Ry. Co. consolidated mortgage fives, due 1934 11,000,000 Cedar Rapids, Iowa Falls and North Western Ry. Co. first mortgage fives, due 1921 1,905 000 Minneapolis and St. Louis R. R. Co. first mortgage sevens, due 1927. (Guaranteed by the Burlington, Cedar Rapids and Northern Ry. fives, Burlington, Northern 111,371.55 108,615.64 32,138.96 28,013.04 9,646.03 2,328.30 . . . $539,622.71 For building and equipping new shops at East Moline, 1,175,524.58 1,850,021.91 2,216,439.04 111 For new equipment For additions and improvements For terminals at Minneapolis and St. Paul, Minn For balance cost of Burlington, Cedar Rapids & Northern Ry For balance cost of Rock Island and Peoria Ry. For acquisition of stock of Choctaw, Oklahoma and Gulf R. R. Co 72,274.73 2,600.00 21,700.00 377,815.00 $6,255,997.97 In addition to the expenditures during the year as above, there has been transferred to property account sundry amounts expended prior to July 1, 1903, for construction of new lines and shops, and purchases of equipment which have heretofore been stated in the system assets as "Advances for Construction and Equipment;" the property represented by- such amounts having been deeded to The Chicago, Rock Island and Pacific Ry. Co., or Tlie Chicago^ Rock Island and Gulf Ry. Co.. There has also been transferred to this account tlie expenditures made prior to July 1, 1903, for the purchase of shares of capital stock of the Burlington. Cedar Rapids and Northern Ry. Co. and the Rock Island and Peoria Ry. CCK, also cost of the stock of the Choctaw, Oklahoma and Gulf R. R. Co. in excess of it.«i par value, and tlie value of bonds of The Chicago, Rock Island and Texas Ry. Co., owned by The Chicago. Rock Island and Pacific Ry. Co.; tlie value of said property appearing upon balance sheet shown in prior year's report as "Stocks and Bonds of Con. stituent Companies" There lias been transferred to this account the outstanding funded obligations of the Burlington, Cedar Rapids and Northern Ry. and Rock Island and Peoria Railway Companies, which were a lien on said properties at the time of their purchase by The Chicago, Rock Island and Pacific Ry. Co., viz.: Funded debt of Burlington, Cedar Rapids and Northern Ry. Co.. .$19,555,000 Cedar Rapids and Northern Railway Company, as follows: Burlington, Cedar Rapids and Northern Ry. Co. first mortgage ton, Co.) I. Guthrie, O. T., to Chandler, O. T De Vails Bluff, Ark., to Des Arc, Ark Wilburton, I. T., to Haileyville, L T Haileyville, I. T., to Ardmore, I. T C. R. I. & E. P. Ry. Co. Bravo, Tex., to Santa Rosa, N. C. R. I. & G. Ry. Co. Fort Worth, Tex., to Dallas, Tex Yarnall, Tex., to Amarillo, Tex Jacksboro, Tex., to Graham, Tex mortgage sixes of 1925; Choctaw, Oklahoma and Gulf Railroad Company equipment trust certificates maturing in series until 1910. Of the bonds reserved as foregoing, system of lines as follows: solidated $2,300,000 1717 23,169,373.83 16,446,009.73 . Funded debt of Rock Island and Peoria Ry. Co 450,000 Outstanding stock of Burlington. Cedar Rapids and Northern Ry. Co 172,200 Outstanding stock of Rock Island and Peoria Ry. Co 150,000 20,186,900.00 9,700 L Total $450 OOO Total additions to franchises and property during year $66,058,281.53 Value of franchises and property shown on balance sheet June 30, 1903 150,262,988.14 349 000 Value of franchises and property shown on balance sheet June 30, 1904 $216,321,269.67 $19,555,000 Bonded indebtedness oC the Rock Island and Peoria Ry. Co Bonds issued during fiscal year ended June 30, 1904: Choctaw, Oklahoma and Gulf R. R. Co. consolidated mortgage fives.. The Chicago. Rock Island and Pa- $ cific for The foregoing expenditures Ry. Co. gold fours of 1902, acquisition of stock of the Choctaw, R. R. Co Oklahoma and ments Gulf The Chicago, Rock Island and Pacific Ry. Co. general mortgage fours for additions and improve^.'"ents The Chicago, Rock Island and Pa- Fences Signal and interlocking plants Transportation department buildings and fixtures Road department buildings and fixtures Shops, engine-houses and turn-tables Fuel stations Water stations Miscellaneous structures Ballast Track elevation Second track Miscellaneous track improvements Right of way and real estate Xow telegraph linos R.Tils. fastenings, etc 1,000,000 Ry. Co. first and refunding fonrs issued and placed in treasury, viz.: expenditures made from treasurv funds for construction and acquisition of now lines $15,000,000 For additions and Improvements, 19 4 fund For retiring The Chicago, Rock and Pnclfic Island Ry. Co. gold bond.s Series "C" of trust note.s 2,500,000 Shop machinery and tools Additions and improvenif nts 1902 For retiring Choctaw, Oklahoma and Gulf R. R. Co. equipment and improve- Side tracks Bridges, trestles and culverts 325 QQQ cific For for additions are, in detail, as follows: 2,752.39 5,713.99 933.83 104.947.14 20,148.67 426.533.95 10.560.42 3,031.16 29.995.47 75.331.54 47.1 84.68 113.970.39 93..TS7.70 to mines Total 1,484,000 $671,902.60 280,312.60 15,823.27 15,339.06 205,455.29 The foregoing dishurscmicnfs 93.114.89 $2,216,439.04 for new equipment are, in detail, as follows: 290,000 19,274,000 40,943,000 $153,041,000 Less The Chicago, Rock Island and Pa- Ry. Co. gold fours of 1902 redeemed. Series "C" 11,494 00» Little Rock bridge bonds redeemed 20^000 Kqulpment trust notes redeemed. 410,000 I cific ' . . TiOcomotives I'ostal cars ninliig cars Haggagc cars lorso cars cars l-'la t Caboose cars Wrecking crane cars. Steam shovels 1,924,000 $1,409,174.19 6S.fi9S.42 45.fi72.80 77.539.64 17.036 03 127.74S.02 42.4.-9 10 45.600.00 17,093.71 Amount of system funded debt as of Juno 30, 1904 $151,117,000 Total $1,850,021.91 — — —— THE CHRONICLE. I7S8 NEW LINES OPENED FOR OPERATION. Additions have been made to the operated system mileage since the last report as follows: By The Chicago, Rock Island and Pacific Railway Company: 1904. Spurs to coal mines on line of former Choctaw, Oklahoma and Gulf Railroad, G.92 miles. Mileage increased through re-measurement of tracks, 3.80 miles. By The Chicago, Rock Island and Gulf Railway Company: Ft. Worth, Tex., to Dallas, Tex., 33.26 miles, opened for operation in December, 1903. Yarnall, Tex., to end of track west of Amarillo, Tex., 18.40 miles, opened for operation in November, 1903. Corrections in measurements, Red River to Ft. Worth, Tex., 83 miles. Operated system mileage was decreased 18.22 miles between Yarnall, Tex., and Amarillo, Tex. See statement following: CHICKASHA, I. T., TO LINDSAY, I. T.— This line extends in a southeasterly direction from Chickasha, on the main line, to Lindsay, a distance of 25.50 miles, where it connects with a branch of the Gulf, Colorado and Santa Fe Railway. It traverses a fine agricultural section and in addition to the local business gives a desirable connection for interchange of business with the Santa Fe System. It was completed in August, 1903. GUTHRIE, O. TO CHANDLER, T., O. T.— This line, constructed by the Choctaw, Oldahoma and Western Railroad Company, is 38.45 miles in length, was completed October 25, 1903, and is operated for the account of The Chicago, Rock Island and Pacific Railway Company by the St. Louis and San Francisco Railroad Company. It traverses a territory that is very rich in cotton and other agricultural products. This line was purchased by The Chicago, Rock Island and Pacific Railway Company March 24, 1904, and, there being no funded debt, was taken over free of incumbrance. SEARCY, ARK., purchased, Island and to DES ARC, ARK.— This line was free of incumbrance, by the Chicago, Rock Pacific Railway Company on March 24, 1904, and its earnings and expenses included in the operations of the system from April 1, 1904. It is 23.96 miles in length, extending from Des Arc on the WHiite River to Searcy, the latter, a town of some three thousand inhabitants, being a general trading and distributing center for the surrounding country. The road has been operated for a number of years, and, notwithstanding its limited facilities, has been a paying property. Its value to the system will be increased when the connection with the main line at De Vails Bluff, Ark., now under construction, is completed. FORT WORTH, TEX., TO DALLAS, TEX.— This line was completed and the line opened for operation by The Chicago, Rock Island and Gulf Railway Company December 1, 1903. It is 33.26 miles in length, connecting with the line of the former The Chicago, Rock Island and Texas Railway at Fort Worth and extending to Dallas, where, by an arrangement with the Gulf, Colorado and Santa Fe Railway Company, it has the joint use of the latter company's terminal facilities. The opening of this line gives the Gulf Company direct entrance into Dallas, enabling it to compete for the traffic of that important commercial center. YARNALL, TEX., TO AMARILLO, TEX.— In Novem- The Chicago, Rock Island and Gulf Railway Company was completed between these points, and the use of the lines of the Santa Fe and the Fort Worth and Denver City companies was discontinued. ber. 1903, the line of HAILEYVILLE, I. T., TO WILBURTON, I. T.— Of the from Haileyville to Wilburton, I. T.', five and one-half miles at the easterly end and one and six-tenths miles at the westerly end have been completed and included in the mileage under operation. Work on the balance of the line is under progress, the track having been laid and, as soon as the work of surfacing and ballasting is completed, will be ready for operation. This line follows along the coal outcrop, parallel with and north of the main line. Rock Island and Pacific Ry. Co. Vnll's l^liiff. Ark., to Dos Arc. Ark 13.80 Hailoyvillo, I. T., to Wilburton. I. T. (C. O. & G.). 16.79 By the St. Tyouis. Knn.sps City and Colorado R. R. Co., and the Kansas City-Rook T.<5land Ry. Co. 298.20 St. liOiiis. Mo., to Kansas City. Mo By the Chicapro, Rock Island and Oiilf Railway Co. Amarillo. Tex., to Texas-New Mexico Boundary.... 69.87 By the Chicag-o. Rock Island and Kl Paso Ry. Co. 41.12 Texas-New Mexico Boundary to Tucumcari, N. M. the Chicago, De . . 439.78 DE VALLS BLUFF, ARK., ST. LOUIS-KANSAS CITY LINE.— This, the most important of the new lines under construction, extending from St. Louis to Kansas City, 298.2 miles, was opened for traffic on July 1, 1904, although not completed in every detail. The work of ballasting, compl^ion of station buildings, St. Louis terminals, etc., is still in progress and it is expected will be finished before the close of the calendar year. There has been expended on this line up to June 30, .1904, $16,923,990.75, and the estimated cost of completion from July 1 is $1,707,874.35. AMARILLO, TEX., TO TUCUMCARI, N. M.— The grading for a considerable portion of this line has been done from Amariilo westward. It was deemed advisable, however, to suspend active construction until such time as the business outlook would warrant the expenditure necessary to complete. LEASE AND PURCHASE OF SUBSIDIARY LINES. CHOCTAW, OKLAHOMA AND GULF RAILROAD COMPANY.— The Chicago, Rock Island and Pacific Railway Company having acquired the entire outstanding capital stock of the Choctaw, Oklahoma and Gulf Railroad Company, it was deemed desirable for economic reasons that the two properties be operated under one management, instead of maintaining a separate organization for each. Accordingly, on March 24, 1904, the latter company leased to the former all its railroad and other property, except its coal mining property and coal leases, for a term of nine hundred and ninety-nine years, in consideration of the Chicago, Rock Island and Pacific Railway Company assuming payment of the interest on the funded debt of the Choctaw, Oklahoma and Gulf Railroad Company. The funded debt, the interest on which is assumed by the lessee company, was, as of June 30, 1904: General mortgage bonds, due 1919. 5 per cent. ... 15,500,000.00 Clioctaw and Memphis first mortg'age bonds, due 1949. 5 per cent 3,525,000.00 Consolidated mortgage bonds, due 1952, 5 percent. 5,411.000.00 Little Rock Bridge bonds, due 1919, 6 per cent... 335,000.00 Equipment trust Equipment trust Equipment trust certificates, series "A." 5 p. c... certificates, series "B," 5 p. c. certificates, series "C," i% p. c. . Total . 100,000.00 650,000.00 1,320,000.00 $16,841,000.00 BURLINGTON, CEDAR RAPIDS AND NORTHERN RAILWAY. — This property, embracing lines extending northwesterly from Burlington and Davenport, Iowa, to St. Paul and Minneapolis, Minn., and Watertown and Sioux Falls, S. D., together with sundry branches, aggregating 1,372.95 miles of road, was, prior to its purchase, operated by The Chicago, Rock Island and Pacific Railway Company under lease, and its mileage and operations were included in the report for the last year. The Chicago, Rock Island and Pacific Railway Company in the deed by which it acquired title to the property, guaranteed to the holders of the outstanding capital stock of the Burlington, Cedar Rapids and Northern Railway Company, not owned by The Chicago, Rock Island and Pacific Railway Company the payment of the dividend of six per cent, per annum secured to such holders in the lease under which the property had previously been held. Such outstanding capital stock, as of June 30, 1904, amounted to $172,200.00 and the annual dividend on same to $10,332.00. $172,200.00 par value of the capital stock of The Chicago, Rock Island and Pacific Railway Company has been reserved for the redemption of the outstanding capital stock of the Burlington, Cedar Rapids and Northern Railway Company. SYSTEM MILEAGE UNDER CONSTRUCTION. By pected that connection between the main line of the former Choctaw, Oklahoma and Gulf road and the line from Searcy to Des Arc will be completed in the near future. line Chickasha, I. T., to Lindsay, I. T., 25.50 miles, opened for operation in August, 1903. Guthrie, O. T., to Chandler, O. T., 38.45 miles, opened for operation in October, 1903. El Reno cut-off, 2.01 miles, opened for operation in November, 1903. Searcy, Ark., to Des Arc, Ark., 23.96 miles, purchased from the Searcy and Des Arc Railroad Company, March 24, [Vol. Lxxii. TO DES ARC. ARK.—Work on this line was temporarily suspended in the fall of 1903, but active construction is now under way, and it is ex- ROCK ISLAND AND PEORIA RAILWAY.— The line of Peoria, this 111., main railway extends from Rock Island. 111., to with branches from Milan. 111., to Cable and 111., to Monmouth .Timction, 121.28 miles of main and branch lines, and 31.81 miles of side tracks. The Rook Island and Peoria Railway was leased to The Ctiicago, Rock Island and Pacific Railway Company June 1, 1902. and its mileage and operations were included in the Sherrard, 111., 111., and from Peoria, aggregating in all report for the last year. The capital stock of the Rock Island and Peoria Railway Company (other than that owned by The Chicago, Rock Island and Pacific Railway Company) was, as of .Tune 30, and Pa1904, $9,700, on which The Chicago, Rock Island ——— ——— Oct. cific THE CHRONICLE. 22, 1904.1 Railway Company, in like manner as stated of the Burlington, stock above Cedar concerning outstanding Rapids and Northern Railway Company, is obligated to pay a semi-annual dividend of three per cent. stock of The Chicago, $9 700 par value of the capital Rock Island and Pacific Railway Company has been reserved for the purchase of the outstanding shares of the Rock Island and Peoria Railway Company. ' ENID AND ANADARKO RAILWAY.— This line extends Ter., to Watonga, Okla. Ter.; from Gulf Okla. Ter., to Anadarko, Okla. Ter.; and from Okla. Ter., to Waurika, Okla. Ter., aggregating from Enid Okla. Junction Lawton 145 28 miles. It has been operated by The Chicago, Rock Island and Pacific Railway Company and the earnings and expenses included in reports for previous years. The property was conveyed to the latter company during the current year. ST. PAUL TERMINAL RAILMinneapolis and St. Paul Terminal Railway Company was incorporated under the laws of Minnesota St. to acquire and construct terminal properties in South Paul, St. Paul and Minneapolis, Minn., together with the bridge across the Mississippi River and other property owned by the South St. Paul Belt Railway Company. On March 24, 1904, all of said property was deeded to The Chicago, Rock Island and Pacific Railway Company. MINNEAPOLIS AND WAY.— The CONSOLIDATION OF TEXAS LINES. The legislature of the State of Texas, by an act passed March 27, 1903, authorized the sale of the railroads and properties of The Chicago, Rock Island and Texas Railway Company, extending from the Red River to Fort Worth, Tex., with a branch from Bridgeport, Tex., to Graham, The Chicago, Rock Island and Mexico Railway Company, extending from the Texas-Oklahoma line near Texhoma to the Texas-New Mexico line at Bravo; and The Choctaw, Oklahoma and Texas Railroad Company, extending from the Texas-Oklahoma line near Texola, Tex., to Amarillo, Tex., to the Chicago, Rock Island and Gulf Railway Company, which had constructed a line of railroad from Dallas, Tex., to Fort Worth, Tex., where it connected with the line first named above. In accordance with the authority granted, the properties referred to were, by appropriate corporate action, deeded to The Chicago, Rock Island and Gulf Railway Company on December 1, 1903. This consolidation permits the properties in question to be operated by one management instead of four separate sets of ofiicials as heretofore, resulting in economy of operation and greater efliciency in Tex.; SGrvic6. THE PHYSICAL CONDITION of your property has been well maintained. 1719 passenger engines, 50 consolidation and 7 switch engines. On June 30, 1904, 147 locomotives were out of service, white-leaded and in good condition; 65 awaiting shop and 31 condemned to be sold or scrapped. During the year the following cars were added to the equipment: 4 coaches, 2 baggage and mail cars, 15 baggage cars, 3 dining cars, 10 postal cars, 200 flat cars, 4 wrecking cranes and 2 steam shovels. On May 31, 1904, a careful and exhaustive inventory was taken of the stock of material and supplies owned by the company. The value of the material shown on this inventory has been written down to the current market prices of the material, and the adjustment due to change in prices included in operations for the year, so that the asset shown as "Material and Supplies" represents the actual cash value of the material, fuel and supplies on hand. In stating the assets and liabilities of the companies forming the system, the holdings of The Chicago, Rock Island and Pacific Railway Company in the bonds and capital stock of auxiliary lines, together with loans between system companies, have been eliminated from the liabilities and a like reduction made in the value of the assets the figures as stated therefore represent the value of the assets and the real liability without duplication. A large number of railroad companies having adopted the classification of operating expenses prescribed by the Interstate Commerce Commission, it has been deemed desirable, for the sake of uniformity anS comparison, to arrange the items of the company's classification in similar groupings. Cheerful acknowledgment is made of the faithful service and employees during the year. By order of the Board of Directors, of officers WINCHELL, President. ROCK ISLAND SYSTEM- GENERAL BALANCE SHEET JUNE 30, 1904. B. L. ASSETS. Capital Assets Property and franchises t Advances for construction and equipment Stocks and bonds of auxiliary companies $216,321,269.67 17,142, 284.0d 581,812.00 • $234,045,365.70 First and refunding the treasury mortgage bonds held ^^ ..$19,2.4.000.00 Current Assets $9,067,261.69 Cash Agents and conductors Companies and individuals Loans and bills receivable United States Government Express companies Treasury securities Material, fuel and supplies Vovt'ssolt foiifiooKi ^' i 3,294 lineal feet of timber bridges ccq'^o«4? c'rc-nns rq 5,5i>.,uu«.b3 386 track miles of new ballasting with stone, burnt clay, gravel and cinder has been done, and 134.5 track miles have been reballasted. ,f rofiofifi 7r'o9fifiA $24,777,234.22 Deferred Assets were replaced with Unadjusted accounts $459.966.57 steel. 2,761 feet of timber bridges have been filled. 992 feet of new timber bridges and 208 feet of steel bridging were built where none existed before. 2,132 feet of iron and steel bridges have been replaced with heavier structures, 2,841 feet of stone and concrete culverts and 22,200 cubic yards of concrete and stone bridge masonry have been constructed. 146 miles of roadbed have been widened, 9,688 tons of new 80-pound steel rails were laid to replace lighter steel in the main tracks, and 1,557,470 new ties were used in maintenance. 26.8 road miles of new fence were built, 15 new water treating plants were erected, at a cost of $85,000, and 120 miles of new side and passing tracks built, costing $671,902.60. at East Moline, the construction of which was April, 1903, were put in use February 1, 1904. The shops begun in thoroughly modern, being equipped with the latest and be.st tools and appliances for doing work of a maximum quality at a minimum cost. Of the buildings originally planned, there have been completed the machine shop (276 x 860 feet), blacksmith shop (99 x 375 feet), storehouse (100 x 500 feet), power house (105 x 154 feet), oil house (62 x 103 feet), oil house (20 x 40 feet), and engine house (30 stalls). Water for operation of shops and for locomotives is supplied from the company's water two one-hundred-thousand-gallon consisting of plant, tanks, one low service and one high; those furnish a full supply of good water for steam purposes and afford ample protection against fire. The expenditures for constructing and equipping the shops to .Tune 30, 1904, amounted to $1,763,764.93, which practically completes all the work which is now contemplated. The present capacity of (he plant is sixty locomotives per month for general repairs and a proportionate number for light or running repairs. The plant is EQUIPMENT.— The locomotive equipment has been increased during the year by the purchase of 30 Paclflc-type $278,556,566.49 LIABILITIES. Capital Liabilities capital stock Funded debt (exclusive of ••••••• first • • • • • and refunding *C^n"a'tyraV tiust 'Aote^! WWW''.'.'.'.'.'.'.'.'.'.''-'-'Temporary loan, due April 1, 1905 Temporary loan, due July 1, 1907 $75,000,000.00 ^^^ 843,000.00 ^[SOO.OOO.OO ! v'^nHnn'oo 7,500.000.00 $223,843,000.00 First and refunding mortgage bonds Issued held in the treasury and $ 19.274. ouu.uu Current Liabilities Unpaid vouchers and accounts T^npaid ^^'roo'rrl'?! wages and mileage balances Matured interest and rentals (payable July Traffic • 1904) Dividend's' payable 'jul'y' 'l, 1904 • Unclaimed coupons and dividends (old) • • • •qiss^ioe i2S,soi..'o 1, 1,934, 821.00 ^'^Sn'^JS?? zo.i.iz.ii $7,702,744.66 Deferred Liabilities Interest accrued (not due) Taxes accrued (not due) Uontals nccruod (not due) Stockholders' improvement loan *Qr?'n7MI ix-'joTnR ioo'o 11'nn i,z-<:,.'ji.uu $2,189,103.67 Insurance fund ITospltnl fund Uoplncomont fund Profit .Tnd loss *^I?nn2«7 aAniA ao ?nos^7(.86 S6 24.500,S.'S $278,556,566.49 •Notes of D. R. Francis .nnd John Srullln assumed at time of purchase of St. Loula-Knnsas City lino. tPrlnclpally for construction of St. I>ouls-Kansns City line. — — A THE CHRONICLE. 1720 ISLANDi SYSTEM— INCOM 12 ACCOUNT. ENDED JUNE 30, 1904, COMPAHED WITH ROPIC YEAR PREVIOUS YEAR. 1903-04. Operaihijj Expenses Maintenence of way and structures.. $6,848,127.02 T. $31,774,893.29 $28,059,164.65 I. $3,715,728.64 $1,437,577.76 7.062,655.70 rentals.. . gal'^iice $592,871.51 I. Net earnings... $13,194,598.13 $16,317,455.26 Total I. $25,570.12 943,673.38 2,534.062.05 212.417.09 5.119,993.98 Coiid. trans'p'tion. 18,345,418.93 Ooneral expenses. 1,461.353.36 !l'"xes Int. and $249,725.02 206,489.62 80,861.17 55,795.70 $6.822 550 90 4,176,320.60 15,811,356.88 1.248.936.27 Maint. of equipm't 'J'o^al 220.71 . $44,969,491.42 $44,376,619.91 $1,319,300.24 7,096.730.71 $8,500,233.46 $8,416,030.95 I. I. D.$3,122,857.13 I. D. I. $118,277.52 34.075.01 $84,202.51 $4,694,364.67 1,333,833.65 $7,901,424.31 1.671,487.20 D.$3,207,059.64 D. 337,653.55 Available for div.$6,028,198.32 Othtr income Dividends S"rplus $9,572,911.51 D.$3, 544,713.19 *$5,9S5,060.00 $4,080,766.50 I. $43,138.32 $4,892,145.01 D.$4, 849, 006.69 $1,304,293.50 stated in prior year'c; report as "Im- provement Fund" representing- additions and improvements provided for out of the income of year ended June 30, 1903 Amount stated in prior vear's report as "Contingent Fund," representing- value of securities acquired through lease of Burlington. Cedar Rapids and Northern Rail-way, profits on stock sold for the acquisition of the St. Louis, Kansas City and Colorado Railroad and sundry items of profit not creditable to current year's income account, less sundry adjustments during the year $18,667,150.26 43 133 32 1,104,544.39 per cent, paid October, 1903 per cent, paid January, 1904 3 per cent, paid April. 1904 1 % per cent, payable July. 1904 4,686,024.89 $1,496,250.00 935 163 75 2 244 396 00 1,309 250 25 $5,985,060.00 epring. Capital stock |3,13a,OO0; bonds about 8400 CO 3 p. V. 78, p. 1553. 5 c— Tafie Company of America, PIttBbargh.— Increase of Capital Stock.-The authorized issue of capital fltock has been increased from $5,000 to $1,000 000 The company, an ally of the Pittsburgh Steel Co., is building a plant at Moneesen, Pa., which will have a capacity of 100 tone per day, but will be laid out for a capacity of 400 tons See V. 79, p. 790. Seamleag Singer (Sewing Machine) Manufacturing Co.— Dividend /r-creaied.— This company, which paid on its capital stock as increased In December, 1900, dividends at the rate of 7 p. c. per annum from 1901 to June, 1902, and of 12 p c per annum from September, 1902, to December, 1903, and which March and June last paid quarterly dividends of 4 p. c, each, made at its last quarterly period, September 80 a cash distribution of 19 p. V. 79, p. 790. m c— ' Standard Milling Co.— Report.—The results for the year 31, 1904 (the fiscal year as changed), were Inoome of Standard Mill Interest on bonds *169,839 iQK Co $116,790 Dividend on preferred Net earnings N. C. M. Co. 488,796 (I'percent) 68.867 do D.S. Milling Co. 53,218 Insurance land 25,000 do H.J. J. M. Co... 425,409 Total earnings $1,084,213 Balance for year $820,507 total income for the year ending Sept. 30, 1903 as in the last report, corresponding with $1,084,213 for 190304 as given above, was $204,209. The latter amount, The shown ' Dividend Increased.— dividend of 1 per cent has been declared, payable Oct. 31, placine the stock on a 2 p. c. basis 1 p. c. having been paid in April last. The only previoua dividend paid was 1 p. c. in April, 1903.— V. 78, p. 2010. A United Box-Board & Paper Co.— New Proposition.— proposition to lease all except five of the company's milla to a syndicate composed of the leading independent companies IS reported under consideration, with the chances in favor of Its adoption. The lease, it is supposed, would be for a short period, with the privilege of renewals.-V. 79, p. 685, 5C4. Pocahontas Collieries Co.— New O^ce.— This company has its offices from Arcade Building, Philadelphia, to 30 Pine Street, New York.— V. 79, p. 679. p.eted.-Se6 Qaeen City Telephone Co.—No Franchise Rights.— At Cincinnati on Oct. 12 Judge Littleford of the Common Pleas Court reversed the decision of the Probate Court, which held that the independent telephone companies, having a State United Zinc Companies,- Proposed Re-incorporation.The franchise tax imposed by the State of New Jersey having been found burdensome, a meeting of the stockhold- moved charter, possessed franchise rights. The decision sustains the contention that, since the City Council denied the company a franchise, the Probate Court has no jurisdiction in the matter.— V . RlcbelJeo & Ontario Narlgratlon Co.— No November Dividend.— Th\R company, which has paid semi-annnal dividends at the rate of 6 p. c. per annam for more than ten years decided not to make a distribation this November, owlne to the fallinar cff In bnslnees on account of the competition of the World's Fair at St. Louis and the loasea snatained by accidents, notably the sinking of the steamer Canada last however, was a^^er deducting expenses bslonging to previous years, includicg the period of the receivership, amounting to several hundred thousand dollars, making a proper comparison impossible. $24,500,857.86 * 2 1 V4, "*''*'*^ condltloDB of boHlneM. which has heretofore not We have felt the if^-neral Improvement In ih"* Iron acd BtePl Induatry, and have now Rnlliclent bUHlueas booked to Insure fall pperatlonB for the balance of thia year, and with good proapeetVforthe comlnK year (compare report on pa^e 1702).— V. 79, p. 1644, 1480. ending Aug. PROFIT AND LOSS—ROCK ISLAND SYSTEM. Balance June 30, 1903 feurplus income for j'ear Amount ^nthorlze<l by th« board of dlreetorti. The addUloDai of thesteBipULt will provide for a full operation floliihinicc»p*o'tr of Northern bla-t rarnaoee, aa well an an eoonomloal operation of ore and o-ai mm*, Av. milcag-e op'ted 7.205.14 Earning's Freight J31. 167,006.12 $30,917,281.10 Pa.ssenger 11. 097. 033. 11,490 '543 .'.3 Mail and express. 1,926,638.15 1,845, 776. 9S Miscellaneous ... 178,814.00 123,018 30 '^<>tal Vol. lxjqx. h^fn"".!* been the oa«e. Inc or Dec. 1902-03. 0,978.13 l."-, 1 77, p. 2102, Repnblic Iron & Steel Co.—iVcw Director.— Charles L. Guthrie of this city has been elected a director to succeed E N. Ohl. Report —See page 1702 of to-day's Chronicle. Notes Offered.—The First National Bank of Chicago, under date of Oct. 12, offered for sale any part of $1,600,000 of the new 5 p. c. Gold Collateral Note?, those maturing 2 years from date at 991^ and interest and those due In 3 years at 99 and interest. These notes are dated Oct. 1, 1904: denominations of $1,000, 15,000 and $10,000; interest payable quarterly from October; principal and interest payable at the First Trust & Savings Bank, Chicago. They are part of a total issue of $7,000,000 of notes, secured by the deposit of $10,000,000 of first mortgage 5 p. c. bonds of the Republic Company. The trust agreement provides that during the life of these notes the Republic Company will always have net cash and quick assets equal in amount to the outstanding notes. The $10,000,000 first mortqage bonds are secured by a mortgage on all the company's properties (except its oil and gas leases), whose value President Thompson estimates at $35,608,001), viz.: Northern ore property. 20.000,000 tons, $10,000,000: Northern ooal blast' farnaoes and 49,000.000 tons, $3 ^ ..?^^Ri?°o®' 4B0.000; Southern ooal properties, 175,000,000 tons, $8,760,000: sundry other properties, $1,900,000. **-'750.000; Northern Yf^Jl^T\^^'^?%'P^V''^' *• "^8,900; Southern ore property, An On official - statement follows: Sept. 30 the available quick assets exceeded $7,500,000. The y®*'" * P- 0- notes already subscribed provide t^l^^^'^^J*', ^^^^ *°^ ^ tloatlng '"^^ debt which, on Sept. 30. was i. Q/?«®}J^°'®°,**°^*^®°P additional working capital for present ?«t;„?i^'^"^'. *^*5.. ^J^F^^ reqairenaente. The balance, up to $7,000,000. will be sold as needed jgJBsemer Steel plant for a sheet and tin bar mill aud for a rail Ini *^ ^®" ** ^''^' Inorease of our coke capacity In «.i ConnellsvUle ^«;^®n® ^f,\^^J}^^?wie district, to provide our own necessities, have all been United Gas ImproTement New York & Co., Philadelphia,— Sa/e Com- Westchester Lighting Co. above.— been called for Nov. 3 to authorize re-incorporation under the laws of Mfcioe, with capital stock of $1,000,000 ers has (half preferred), to be issued, share for share, for the stock of the New Jersey corporation. Westchester Lighting Co.—Sale Consummated, -Sf^e New York & Westohesier Lighting Co. above.— V. 79, p. 1026. 504. —Four gold medals and awarded eighteen other medals have been & to the Baltimore Ohio RR. and those connected with it for its exhibit at the St. Louis Exposition, The company received the highest award of the Exposition, viz., the gold medal, for the best, most complete and most attractive exhibit in the transportation department also the gold medal and grand prize for its section as a whole; in connection with which were awarded eighteen collaborators' medals to those who had contributed to the success of the exhibit. Another gold medal waa awarded to J. G. Pangborn, director of the exhibit, and the fourth was a gold medal and grand priza for the model of the new station at Washington, which was exhibited in the group of engineering and architecture. ; —The American & British Securities Company, Ltd., has established an office in New York at No. 49 Wall St. This company was organi7.ed a few years a?o by London, Edinburgh and Chicago interests, with an experimental capital of 20,000 pounds sterling; its present capital is 100,000 pounds sterling, and a further increase, it is stated, is planned lor the near luture. Messrs. Northcote, Dudley Maitland, who are successors of the late firm of Aldis, Aldis, Northcote Watson of Chicago, and whose business is that of representing the interests of British investors in American securities, are the agents and managers of the company, Mr. Northcote being in charge of the London office of the & & company and firm and Mr. Dudley and Mr. Maitland respectively in charge of the New York and Chicago offices. The cards of the two concerns are printed among our advertise- ments. . Oct. 23, 1904. 1 THE CHRONICLE. J 1721 col TON. Fbidat Night, October ^^""^r^irM rTTaL E EP I The Movement of the Crop T O mTe Fbidat Night, Oatober 21, 1904. volume of business has been transacted in many The reports from the pig iron market have been broadenespecially encouraging. The buying has continued has demand active an week past the ing and during A good advancing. An improving demand also has continued to be experienced for steel and manufactured iron. Optimistic reports are quite generally heard relative to the out- with experienced, prices from the South to-night is given below. For the week ending evening the total receipts have reached 393,639 bales, against 381,830 bales last week and 401 721 bales the previous this lines. been 21, 1904. as indicated by our telegrams steadily look for business, many anticipating exceptional activity during the coming year, which is being reflected in the spirit of confidence that marks the operations of many merchants and dealers. In the speculative market there has been a slight yielding of cotton values, due to the continued favor able crop indications. Daring the latter part of the week corn prices yielded slightly under the first arrivals of newcrop corn. Lard on the spot has had only a small sale, the demand from eioorters being light, and refiners have been slow buyOfferings have not been heavy, but prices have yielded. ers. waa steidier at 7'80c. for prime Western and 7 40® prime City. The demand for refined lard has been quiet and prices have been easier, closing at 8c. for re- The close 7"50c. for Speculation in lard for future defined for the Continent. livery has been quiet, and under pressure from packers and a slow cash trade, prices have yielded. The close was firmer, with packers buying. wt'ek, mjiftiug the total r«oeM'te since the Ist of Sept., 1904, 2,250,891 bales, against 1,580,629 bales for the same period of i903, shpwing an increase since Sept. 1, 1904, of 670,263 bales. at— Receipts Mon. Bat. Thun. Wed. Tue$. 1 Toua. Iri. 14,081 17,635 28,466 17.858 13,723 18,555 110,318 QalTCBton 1,9'»4 Pt.Arthux,&c 1,984 crew Orleans... 10,188 15.044 26,630 16.707 16,430 10,633 95.632 990 1,437 13,045 1,695 4,610 1,838 2,475 Mobile 7,839 7,839 Penaaoola, &o. 12,970 10,885 21,121 11,037 12,916 13,097 81,626 Savannah 7,188 Bnmaw'k, &e 7,188 1,257 2,668 1,945 1,769 1,989 2,098 11,716 Oharleston 76 75 Pt. Royal, 40. Wilmington.... 4,296 7,163 6,607 3,136 4,406 2,469 27,077 18 18 Waah'ton,Ac. Sorfolk 5,007 4,674 6,147 6,731 7,036 5,866 35,460 468 468 N'p'tNew8,Ao. New York. 6 12 36 43 Boston......... 1,027 1,027 Baltimore 105 43 76 228 Phlladelp'a,Ao Tot this week. 49,519 62.222 91 754 69,808 67 498 72,841 393.639 The following shows the we<-k's total receipts, the total since Septi 1, 1904, and the atosbs to-night, compared with last year. 1903. 1904. ReceipU to ThU Since Sep. This week. Stock. Since Sep. 1, 1903. 1904. 1903. week. OAILT OLrSIRO PBIOBB OV LABD VDTIIBBa IN OHIOAOO. 1, 1904. Thurp Wed. 9ri Hon. TU€M Bat. Galveston... 110,318 782.612 103,532 516,682 155,399 115,460 712i« 7l7ifl 7-22ifl 7-36 7-22>« 7-30 Oct. del'y 707i« 717i« 7-25 7-20 7 17»« 7-22ifl 1,424 7,849 5,372 Jan, aery Pt Ar.,&o, 1,984 7S2J« 7-32ia 7-26 725 715 7'27>fl Maylel'y New Orleans 95.632 383,264 67,364 268,740 208,419 108,206 Pork has bad a moderate sale but at a slightly lower basis MobUe 6e,841 70,282 11,105 33,490 13,045 29,274 of valnes. The close was steady at $13 5f'@13 00 for mess, P'saoolo, &c. 15,263 6,349 13.004 7,839 $15 00@16 50 for short clear and |15 50@16 00 for family. Savannah... 81,526 555,220 71,818 372.ti56 125,064 107.197 Cut meats have been quiet but steady, closing at 73^c. for Br'wlok, Ac. 7,188 36,122 20,767 4,965 6,823 11,072 pickled shoulders, 10(aiiOi^c. for pickled hams and 9@!0i>^c. Charleston.. 11,716 96.062 25,424 70,371 9,360 8,889 B-^ef has had a for pickled bellies, 14(g) 10 lbs. average. 93 113 581 75 P. Royal, &o. fair sale at firm prices, closing at $8 50 for mess, Wilmington. 27,077 130,222 28,761 138,948 31,934 18,347 $9 50@10 00 for packet, $10 00@11 00 for family and $15 5(@ 18 146 78 23 Wash'n, &o. Tallow has been quiet and unchanged, 16 50 for short clear, Norfolk 28,898 36,460 169,499 21.740 117,714 13,779 at 4^^c. Stearines have been easier for oleo stearine, moder468 1,124 138 1,174 N'portN.,&o made lower prices, closing eing at at S^^c. for lard sales ate 1,791 69.655 90.216 New York... stearine and 83^@8i^o. for oleo stearine. Cotton seed oil has 509 1,086 B 1,408 43 12 000 had a moderate sale at lower prices, closing at 27@273^c. for Boston 825 2,221 2,062 297 1,027 6.433 prime yellow. Butter has been fairly active and higher for Baltimore... 649 128 1,409 5,856 223 5,241 choloe grades, olosiog at I3(g21^c. for creamery, Cheese Phnad6l,&c. has been in full supply and easier, closing at 73>^@10c. for Totals 393.639 «,250,»91 324,2801,580,629 692.409 526,116 Fresh eggs have been firmer, State factory, fnll cream order In that a comparison may be made with other years, closing at 28^@24c. for best Western. Brazil graOrs of coffee have been in better demand and on we give below the totals at leading ports for six seasons. unfavorable crop news from Brazil the tone of the market Receiptt at— 1901. 1904. 1903. 1902. 1900. 1899. has been firmer. The close was steady at 8J^o. for Rio No. 7 and 8^c'. for Santos No. 4. West India growths have had a Galves'n, &o. 112,302 104.956 98,856 121,5X8 96,637 79.733 67,364 91,803 103,989 110,014 slightly better sale and the close was steady at 9J^@tt^c. for New Orleans 95.632 66,978 MobUe go. d Cucuta and llj^@113^c. for good average Bogota. 13,045 14,105 18,987 6,856 9,878 8,499 Speculation In the market for contracts has been more active. Savannah 49.828 44,871 81.526 71,818 71,549 32,261 Investment buying has increased, induced by reports of a poor Ohas'ton, &o. 7,773 16,373 12,338 11,791 9,091 13,143 flowering for the growing Santos crop and expectations of a mim'ton &o 11.612 23,784 16,366 21,626 27,095 15,599 falling off in the crop movement. The close was steady. Norfolk 36.019 35,460 21,740 25,264 15,748 14,250 The following are the closing asked prices: 590 862 N. News, *o. 629 468 138 206 Oct....—..„ 6 850. Jan 7*)Oo. June 7'5°;o. Ail others... 12.164 30,797 20.069 16,320 12,602 13,766 Oct. 21. ^ . . ; Nov e*85o. 7 000. Deo Raw March May 7-26o. .^.... 7'45e. puears have been in better / I July Sept demand and ^ 760 i. 7-75o. steady, clos' ing at i}4c. for centrifugal, 96 deg. test, and S^^c. for mus oovado, 89 deg. test. Refined sugar prices have been cut 10 points, but toe close of the market was steady at 4 8^c. for granulated. Teas have been more active and higher for Formosa. Spices have been firm. K^ mucky tot)acco has been firmly held; business locally has been limited. Seed-leaf tobacco has been ih fair demand; 1908 Pennsylvania broad leaf has had a good Sbile and there has been some trading in 1903 Zimmers Spanish. Suiuatra tobacco has be«n in fair demand anl firm. Havana tobacco has been in small supply and firm. Offeiirgi of Straits tin have continued limited, due to small supplies, and prices have advanced to 28-65@28 95c. Ingot copper has been in fair demand and prices have advanced Slightly, closing at 13i^^l33|c. for Like and 13@ 18^;ic. for electrolytic. Lead has Deen firm and higher, closing at 4 3'i@4'37i^c. Spelter has advanced, closing at 6'26@5'30c. Pig iron has been in active demand and higher, closing at S;i4 50@l4 75 for No. 2 Northern and |14 75 lor No. 2 Southern. R-fioed petroleum for export has been steady, closing at 7'96c. In bbls.. 10'65c. in cases and 5-05c. in bulk. Naphtha has been steady at llj^c. for 71 degrees and 12c. for 78 degrees. Credit balances have been firm, closing at l"56c. Spirits turpentine has been quiet and easier, closinK at 54^.( @ft6;4c. Rosius have been qnlet but steady at $2 S^}i(§'^ 9u for Common and good supply and firm. strained. Wool has been In limited Hops have been in fair demand and firm. Tot. this wk. 393 639 324,280 313,879 420,447 319, 02 244,435 Since Sept. 1 £250,891 1680,629 1952,245 1660,822 1920.280 1790.797 The exports for the week ending this evening reach a total of 235,521 bales, of which 130,465 were to Great Britain, 28,581 to France and 81,475 to the rest of the Continent, Below are the exports for the week and since Sept. 1, 1904. Week Endinv Oct. 21, 1901. from aepi. BaworUd to— Bxportt from— Great flrit'n. lialTeston..... «6,2)i6 Oonti- '^'•«" nent. 16.156 1, 1904, to Oct 21. 1904 Exported to— lotal Great Francf Week. Britain. 81,681 urleani.. S0.702 Mobile Peniaooi8.&o. 6.019 saTannah Brnniwlok 0,226 lU&.UOi! 664,690 28.612 6,384 62.15 e.884 186.888 16.700 12,716 12,738 39.666 111.093 1,000 55,2i9 7.019 11,646 66.229 7t-.fl94 4,871 22,460 e.6.0 10.060 4,S71 Total. 368.801 100,097 PUArthur, 4o. New Continent. 1.06H 21,162 Charleston... 806.434 208 278 22.460 9,800 0,<i00 43.268 1.0-2 fie,scs PortBoral.... WUmlnHton... 10.000 Norfom Ac 8.103 18.105 ^09 600 ',00 8,499 6.V99 2,863 i2,&84 101.4 80 N'port N., New York... 2.809 7.-81 Boston Baltimore 3.762 8.752 1,900 49.367 96 9. 9 «00 49.868 760 B.81.6 6.000 fl.OOO 19.809 Philadelphia.. a,£ie 2,216 12,144 rran„ ... -<an Total... ... Ao.. 260 3,662 7,819 260 809 10,28!« 1.08S e,88» 168.667 Si.SSB 26,706 12.848 10.988 180.466 23.681 81476 835.5ai 909.860 166 774 4Ht>.474 1,466,806 Total. IW8.... IOn.769 6v>,ni7 Hi.8<^o ase.i^n 4I8.K66 IB 4. 184 449.8H7 1.<>14J)H8 .. g .. . . ; . 1 . THE CHRONICLE. 1722 Vol. lxxjjl I 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 for New York, which are prepared for our special use by Messrs. Lambert & Barrows, Produce Exchange Building. ON BUIPBOAKD, NOT CLKARBD FOH — Oct. Leaviny 21 ot— Great Other Ooa»t*'*'" Fr'»we' 7t«6 Britain rr fnany. For'gn wise. Kew Orleans. Qalveston.. .. Savannah.. .. Charleston . . Mobile Horfolk Hew York.... Other ports 16,993 30,712 4,052 25,750 25,331 12,757 32,734 5,667 5,890 21,228 9.600 2",506 14,885 160O 600 •/,000 1,700 5,500 14.300 i',8o6 6,200 6',io6 S'.TO'O slodo 13,000 . itoek. Total. 500 791 78,328 8f',120 1,500 1,000 7',6o6 8,000 125,091 7.'S,27!) 80,179 23.424 24,1»0 16000 J2,89fl 14,000 25,000 55,6.'>5 21.060 Total 1904.. 72,191 58,589 79,411 53,145 10,991 274,633 417,776 Total 1903.. Total 1903.. 82,264 31,993 53,827 12,539 16,005 225,618 65,893 27,728 57.191 53.298 19,007 223,112 300,197 410,089 Specalation in cotton for future delivery has been on a moderate scale only and the tendency of prices has been towards a lower basis. The movement of the crop has con- tinned heavy, the amount of cotton in sight for the week be iner the high record thus far this season. The reports received from the South have indicated that cotton was accumulating at the various stations, and with the increasing stocks there has developed more of a willingnefs on the part of holders to sell at a lower basis of values. Factors, however, are reporting that, considering the season of the year, the volume of new business being transacted in actual cotton is of only very moderate proportions. Many buyers, it is understood, are holding off for prices to yield to slightly below their present level before again entering the market as free buyers. Some of the selling which has been done during the week has been in the nature of hedges against supplies of actual cotton held at the South. Comparatively little bull support has been given to the market and under the selling that developed, prices yielded. To day there was a steadier market at the opening. As, however, the day progressed there developed increased pressure to sell and it was believed to be for the account of an interest which last week accumulated a considerable line of cotton, but becoming discouraged over the situation were endeavoring to unload prices declined and the cloee was at a net loss for the day of 6@12 point. Cot4on on the spot has declined, closing at 10*05c. for middling uplands. The rates on and off middling, as established Nov. 18, 1903, by the Revision Committee, at which grades other than middling may be delivered on contract, are as follows. Fair 0.1-30 on Good Middling Tinged ..0. Even Middling Fair 096 on Strict MlddliDg Tinged.... 006 off Strlot Good Middling 0'62 on Middling Tinged 0-12 off Good Middling 0'44 on Strict Low Mid. Tinged ... 31 off Low Middling O-lloff Low Middling Tinged 0-60 oft Middling 0'38 off Strict Good Ord. Tinged .. 84 off Good Ordinary 072 off Middling Stained 0-50 off Good Ordinary l-oo off Strict Low Mid. Stained... 1 06 off Strlot Good Mid. Tinged.. 0-30 on Low Middling Stained 1-50 off On this basis the official prices for a few of the grades for the past week— Oct. 15 to Oct. 21— would be as follows. Strict Low Strict UPLANDS. Sat. Qood Ordinary 9-35 9-97 mon Tnes Wed Tb. Frl. 9-20 9'35 9-25 9 15 9 05 fl-82 9-97 fl'87 9-77 9 67 1035 1020 10-35 10-25 1015 1005 1079 10-64 10-79 10-69 10-59 10 49 ll'Sl 1116 11-31 11-21 1111 11-01 Low Middling Middling Good Middling Middling Fair GULF. Sat. Good Ordinary. inon Taes \¥ed Th. Frl. 9-60 9*60 9-50 9 45 940 930 1022 1007 1022 10-12 1002 9-9 10 60 1045 10-60 1050 10-10 10 30 1104 10-89 H-01 10-94 ly 84 110-74 11-56 11 41 1156 11-46 11-36 |ll-26 Low Middling.. Middling Good Middling. Middling Fair.. '. STAINED. Sat. Low Middling 885 Mom Tnes 8-70 8-85 Middling 9-85 9-70 9-85 Strlot Low Middling Tinged... 10-01 9-66 1001 Good Middling Tinged 1036 10-20 10-35 IVed Th. Frl. 8-75 9-75 9-91 8-65 9-65 9*81 8-55 9-55 9-71 1025 1015 10 05 The quotations for middling upland at New York on Oct. 21 for each of the past 3Z years have been as follows. 1904. ...0.10-05 1896....0. 71B16 1888. ...0. 9\ 1880. ...0.11^16 10-00 1903 1895 808 1887 9*8 Ill* 1979 8-70 iy02 1894 5'8 1886 9Bia 9^8 1878 1901 888 1893 1885 913,8 1877 115, 87,e 1900 »% 1892 8j4 1884. 1876 lO-'e g-'e 1899 738 1891 1883 b7ia 1875 14»8 10»ie 5i« 1898 IOI4 1890 1882 1874 15 lUifl 1897 1889 1881 63iB ll>i 1873 16% 109io NoTB.— On Oot. 1, 1874, grades of cotton as quoted were changed. Aooordlng to the new olasslfloatlon Middling was on that day anoted %o. lower (han Middling of the old olasslfloatlon. MARKET AND Spot Market Olosbd. Saturday unlet Monday.... (jalet.l5pt8. do. Tuesday Qulet.lSpts. ad. Wednesday Ciulet, 10 pt«. do. Thursday.. (julet, 10 pts. do. Friday Qolet.lOpts.do . . . Total ... Fdtuees Mabkkt Closed. steady Steady steady Steady B'rly steady, steady ~*—=^ SALES. Saxes of Spot & Oontbaot. Ex- Oon- Oon- port, tump. tract. 2,400 .... Total. 2,400 33 500 500 500 633 '28 1,500 1,6U0 1,500 1,628 61 6.500 6.561 lOP-i I « I I 19 « I 00 00 00 CO too M© h^O »^© 060 co> ov *.© 00 aw ODoi aw a « « • 10 • ©o 00 o© 00 © «o ce« cc«o tots -© o'i-' MIO MW M i—oa od;o t^i^ to (0 Wfc3 « I ' I I 00 II I ' ts I o I I o I I (^ 03 I « I « I « I o I I • I I « I I I ' 19 I I II II 19 19 It II I I I 19 I 9 I I I 9 10 06 viv © W 00 o 00 «^ 1^o 00 00 C(SM CO CO OD '9 '« la ' I ' >A 00 © o© 6 wrf^ o o coco coco la con obob WO) I o o I I I I « to oa I I I ® « to o 'O 19 9 " I ' 1 I*? «o ,0 to CO CO CD .a^ cbOK COOD ooi .4...) 19 I 1 9 ' oa V 9 9 (DCD COCO ! QD9 ^t^ OP-J QBvl .J^ co«D •j-j COCO didt coco d«e» o<at 00 19 coco >Jab H-». e o CO I ' 9 M 00 to ««0 coco •jco ooto ^ la I ' o to i CO«D ©» ad 09 0« III • CC CD coco obco ! I OOH 19 • ^3 coco •a*! tax « >J«D cpta 9 1 CO CO a I 00 I <CCD CO© |4 • coo Qoo »j© *? , ' a*, cots coco CO (C to W •j-j 19 M coco coco 00 ©6 00 00 O «cO coo ceo 9 I O© ©O ©6 UOl eto OiO ©o 00 6>- 00 I COCD obob I ' 10 19 00 o o*-" 6' I I < ^ 00 © I I I tOtO O I oo 1 o© o I i • o O oa (^9 9 19 coco 6<>j 0)^^ co« I M I '^^ • 3 si oi<i a» iS w 19 , ' CO CO 06 I I 9 9 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 consequently all foreign figures are brought down to Thursday evening. But to make the total the complete figures for to-night (Oct. 81), we add the Item of exports from the United States including in it the exports of Friday only. 1904. 1908. 1902. 1901. Stock at .Liverpool ,~j>aie». 252,000 133.000 245.000 152,000 Stock at ^on<'nr 15.000 18,000 13,000 7,000 Stock at Manchester. 10.000 10,687 Total Great Britain stock. 277,000 161,587 258,000 159,000 Stock at danipaig ..-.., 33.000 33.000 14 000 18,000 Stock at Bremen ...^ ...... ..^« 83,000 82,000 89,000 61,000 Stock at Antwerp ........ 4,000 5.000 5.000 3,000 stock at Havre.. _ .... ..... .^^ 40.000 52,000 53.000 44,000 Stock at iJftirseUleB...^ 3,000 2000 ..^ 3,000 2.000 Stock at Barcelona... .^...^... 5,000 6,000 30,000 16,000 Stock at Genoa...^ .. .™"~ 17,000 9,000 12,000 5,000 Stock at '''''•»<^»'.. .«..>. 9,000 8000 3.000 7,200 Total Oontlnental stocks.. 194,000 197,000 209,000 156,200 Total European stocks 471000 358.587 467.000 315.200 India cotton .»auaiior uurope 8000 28,000 24.000 17,000 Amer. cotton »flo«tfor E'rope. 739.000 634,000 589,000 652,000 Egypt, BrazU.&e., »fl[t.for E'pe 32.000 S8 000 48,000 43,000 Stock In Alexandria, Egypt... 90.000 67,000 84.000 96.000 Stock in Bombay, Indlfc. ....... 205.000 199.000 182,000 165,000 Stock In United states ports.. 692,109 526.115 633 201 673.127 Stock In U. 8. interior towns.. 422,250 239 634 487.261 473 193 United SUtes xxports to-day. 58.006 46,820 S9.699 43.239 Total Visible supply 2.717.665 2,137,206 2,504,061 2,477;759 OX the ADOTe. totau or American and other desoripi iob s are as louowg: Am»rt$aH— til verpool Stock Hanehester stock bales. 206.000 64,000 189,000 94,000 8.000 8,748 Jontlnental stocikr. ,...„. „„. 111,000 123,000 172.000 113.000 Imerloan afloat for Europe... 739.000 634,000 589.000 652.000 Jnlted Btatte stock ..., 692,409 526,11'a 633201 673,127 muted States Interior stocks. 422.250 239.684 437.261 473.19.^ armtedBtatesezporti to-day. 58,006 46,820 39,599 48,239 XOtai American 2,235^665 1.642,367 2^060,061 2,048.559 Ma$t Indian, Bratil, lie.— JJverpool stock.. ..« 47,000 69.000 66.000 58,000 ...„ Londom stock _ 15.000 18,000 13,000 7,000 Manchester stock 2,000 1,839 jonlluentaistooKB.._ ..^.... 83.000 74,000 37,000 43,200 Cndla afloat for Europe . ..._ 8,000 28,000 34,000 17,000 Igypt.Braill, Ac, afloat... 32,000 38.000 18.000 13.000 Stock In Alexandria, Egypt... 90.000 67,000 84,000 96,000 Steek Bombay, India. .,.._ 205,000 199,000 182,000 165,000 Total East India, Ae..._ 482 000 494.839 444,000 429,200 Total American.. ..>_.. ...^ 2,235.665 1,6 42,367 2,06U,061 2.048,559 Total Visible supply 2.717.6B5 2,137,206 2,504.061 2,477.759 Clddllng Upland, Liverpool 4-ti8d. 5*36d, 5 74d. 4iiifld. Clddllng Upland, New fork. 8-700. 10 05e. lO-lOo. 8380. igJVt GkxMl Brown, Liverpool 8>9d. 7ii«d. 6%d. .'era?. Bough Good, Llveri>ool 10-<6d. 900d. 6-90d. 7d. Moaeh F)ne, Liverpool S\d 67„d. 4^d. 4^d. Innevelly Good, Liverpool... 5i«d. 42B3ad. 4eBd. 57i8d. m Continental Imports past week have oeen 87,000 bales. figures for 1904 show an increase over last week of 283.184 bales, h gain of 580,459 bales over 1903, an increase of 218,6C4 bales over 1902 and a gain of 239,908 bales over 1901. The above 6 . . 1723 THE CHRONICLE. Oct. 22, 1904.] Quotations for Middling Cotton at Other Markets.— are closing quotations of middling cotton at Southern Below the shipments for the eceipts for the week and since Sept. 1, and other principal cotton markets for each day of the week. and the same items for the sreek and the stocks to-night, CLOBING QUOTATIONS FOB MTODLING COTTON ON— elow. Week ending period of 1903-is set out in detail b At the Interior Towns movement-that the the is jorrespondlng ©o 00 o » October 21. 2, 80 b P - ® 5 * p 2W B prfg B _ t3 New Orleans • ^'T,-,. • ltd Mobile Savannah... Charleston Wilmington. Norfolk Boston H O OH ^"z-, 9B8 91I16 9% 9iii« 934 908 9»8 91*8 'bo<J«ia<lf»W<if^05l-'i-'l^» " 913i6 Memphis 10 8t. Louis.... Idle Houston Little Rook 10 The 9S8 911,6 958 99,6 9»8 9i8ia 988 Angusta..... V1K1 riilJo'U''J-''cDO 000505 9'8 9^8 9i»ie 9% 10-35 10-12 10-60 PbUadelph'a ( Monday. Tuesday. Wed'day. Thurgd'y Friday 9% \o"" Baltimore... 4o\ §1 t^ . 9i5ie . t-H ?m 10 Galveston... _ 45? W Sat'day. 9^ 9I>8 9% 9«fl 913,6 10-35 10-12 10-45 9i3,a 91»16 101,6 10-20 10-12 10-60 10-35 10-12 10-50 9 '8 913j« 9'8 938 958 10 00 10-15 10-00 10-40 1030 10-25 911, e«% 988 911,8 99, 913,6 10 10 "gis'i's 9S8 938 9% 938 914 closing quotations to-day (Friday) at other important Southern markets were as follows. is &SSKSSm-So.00,..^0cK^^1^m!^2 |;5S,V,<»®05C^0500*^ 9^8 9^4 938 Atlanta. Columbus, Ga.. Oolumbus.Miss 9 Ss Natchez Raleigh 93^ Shreveport.... LouisvUle Montgomery . . Nashville 99,8 938 G'la highest, lowest and New closing quotations for leading options in the New Orleans cotton market the past week have been as follows. Orleans Option Market.— The 5, T. Vi'Jrt'V" tno -1 ' "cj< |fi®05l^lf'50(P'WWO<l* Oi'o Ol to w'abO WtS CO' Sat'day, _ 0» WMtO OD^^WOSWtO MM Mit'MM bS )-'l-' M MtO <I0005-00505M; W!0 M » K) 05 *^ pj0 05<l^>!^ M M 050 aoVj otV m'* O 0V3 W 05 <1 Octob'h— Range .. coaDt3ai*^05to<lWMOW Sir SSM^O'SSSlfJ^SMOJlf'ODtaOOWtOQD- OQD (MO if^flB 01^^00501 t-ilj>>V5 • Closing.. Oct. 17. Oct. 18. Oct. 19. Oct. 20. Oct. 21. 9-74-'80 9'78--79 9-659-65- 9-65--80 9-78--80 9-75--83 9-68--70 9-58--67 9-60--62 9-50--e3 9-49 --50 9-79--86 9-84--85 9-70--90 9-71--72 9-69--90 9-83--84 9-73-90 9-62--75! 953 68 9-74--75 9-66--67 9-64-'55 9-79-00 9-76- -99 9-81--99 9-92--93; 9-83--84 9-71--82 9-74--75 9-61--77 9-62--63 9-88--98 9-91--92 9-76--94 9-77--78 Dbc'beb— Range . M Closing. Jan' ART— Range £SSno*.MMMM*^aOOC»U<Ol«'M-a'0|f^CHIf^(6-05W.O»OQOWl(^03 wooSMfetoSoMSgog^woowrf^tau'co-^ooi^MNitooouatato Makch— Range 9-88--04 Range.. 10-21--27 10-10--32 10-10--28 10-10--28 1000--08 9-88--89 1011--12 1002-04 Closing.. 10-24--25 10-09-- 11 il0^20-^21 TONE— S M Spot. K>Wb3tOb3MMM«0 ^MM<IC5*«.MMMW00M Options. Si^SSKSli.aiJ-.COCOOOOWCOWObOtOlf^MCOMOCOOllf'WOStP'-OJOOCO *©§WMSw5£wOOo"cn?:oSo5cjOOCO»05 05WatP-QOift^ CO CiJOJ COtOM "ri^rtsfrTft-cJi Jk CO M yi ^_ M{C<1CO<J-301AOO ,..,.,,.---,..,,.,.^, C0CCcr05Oi*J<lMC^Mt0O Mtt O 03 CJl CO C;» O CD CO O »*- to <1 k.,C» 3S^-3MOWtOMOC»<ea*-MCoooo5it^o:i^!Ott'tf^««Oi^OMMM05 ooS The above totals show that the interior stocks have increased during the week 93,175 bales, and are to-night 182,566 bales mcyre than same period last year. The receipts at all the towns have been 88,187 bales more than same week last year. Week and Since Sept. 1.— give below a statement showing the overland movement for the week and since Sept. 1, as made up from telegraphic The results for the week ending reports Friday night. Oct. 21 and since Sept. 1 in the last two years are as follows. Overland Movement for the We 1903. 1904. Shipped Wuh. Sept. 1. (Since Sept. 1. Week. — Via St. Louis Via Cairo Rock Island Via Via Louisville 4,368 2,986 1,772 3,373 11,669 26,919 77,798 15,404 42,540 1,293 3,210 430 5,433 117 625 314 4,657 89 641 356 7,156 1,975 885 interior towns Inland, &o., from South Between Total to be deducted. movement by rail 24,884 to Canada. 200 323 8^7 250 8,181 1,160 12,945 69,615 14,244 29,595 2,035 Leaving total net overland* Including 2,789 8,279 661 Total lyposs overland Deduct shipments— Overland to N. Y., Boston, Ac, 10,485 14,991 26,119 22,904 1,411 5,619 3.225 18,518 8,096 10,934 Via Cincinnati Via other routes, &o * Since The foregoing shows that the week's net overland movement this year has been 24 884 bales, against 14,244 bales for the week in 1903, and that for the season to date the aggregate net overland exhibits an increase over a year ago of 40,0'.i0 bales. 1903. 1904. In Sight and Spinners' Takings. Since Week. Sept. 1. Week. Since Sept. 1. Receipts at ports to Got. 21 393.639:2,250,891324,280 1,580,629 29,595 Net overland to Oct. 21 24,8841 69,615 14,244 Southern consiunptton Oct. 21... 42,000 275,000 42,000 285,000 , , Total marketed 460,553 Interior stocks lu excess Came Into [ North. BplnDe rs'tak'g stoOot Week— 1902 -Oct 21 1901-Oct. 25 1900-Oct 26 1899-Oot 27 359,990 Bight during week. 563,698 Total in sight Oct. 21 Movement 2,595,.*-06 93,175{ . 21.! 880,534 1,8.95,224 65,263 228,082 445,787 2,123,306 [2,955.496 58,063: 268.860 83,4 04 229.533 into sight in previous years 1— 452,445 Bales. 2.773.9.S2 339,488 2,367.876 2.711,418 2,631,484 liat^M. Since Sept. 1902-Oct 24 5.'i7,036 IPOl-Oct 25 471,438 1800-Oct 26 1899-Oct. 27 Quiet. Quiet. Easy Steady. Steady. Steady. Easier B'rly st'y Steady. Steady. Weather Reports by Telegraph.— Advices M tOUlC;iW_CBWMUl<jp<IJO October 21. 9-95- •16 9^999-97--98 10-09 •10 10-01- Mat— M3.§®QDiSJo®<ICO<II»OQOW«lll>-0"000505<lMMtOODCO^O*'05 0t3 mSmWM 9-79--80 1005-'14 9-97--19 .. Closing.. 10'11-'12 Mlf^ 'Hi''.t^'fri S 9-88--96 9-94--96 .. Closing.. tOMMKllOMMMMW UM M O aw(M«acB<y>Ki<ooiw«o<i>:i-'WM to mm << os w «,- .«"i'"Pi«."i" * ui VaVa'»a a) o'oo CO J» O^lfflW MW O O oocn®*>-MMif»Mtoit»<loow f^^y^^i^t-t Monday, Tuesday, Wed'day, Thursd'y Friday, Oct. 15. Steady. Steady. to us by telegraph this evening indicate that during the week over practically the whole Soath the conditions have continued favorable for gathering the crop. In the Southwest rain has fallen in some districts, but the precipitation has as a rule been light, and elsewhere dry weather has been quite gen- Picking has mads excellent progress and marketing has been quite liberal. Oalveaton, Texas.— R&\n has fallen on two days during the week, the precipitation reaching eight hundredths of an inch. The thermometer has ranged from 58 to 80, averaging 69, Abilene, Texas.— We have had no rain this week. Average thermometer 62, highest 84, lowest 40. Brenham, Texaa.—We have had rain on one day of the week, to the extent of twenty-seven hundredths of an Inch. The thermometer has averaged 66, the highest being 85 and eral. the lowest 47. Corpus Christi, Texas,— There has been rain on four days of the week, to the extent of twenty-five hundredths of an inch. The thermometer has averaged 69, ranging from 56 to 82. Cuero, Texas.— B.ain has fallen on two days during the week, the rainfall being fifty-eight hundredths of an inch. The ihermometer has ranged from 46 to 87, averaging 67. Dallas, Texas.— Vfe have had rain on one day of the week, the rainfall reaching twenty-nine hundredths of an inch. Average thermometer 65, highest 88, lowest 42. Henrietta, Texas.— We have had no rain the past week. The thermometer has averaged 65, the highest being 89 and the lowest 40. Huntsville, Tejcaa.—There has been rain on one day of the week, to the extent of seventy-nine hundredths of an inch, The thermometer has averaged 65, ranging from 44 to 86. Longview, Texas.— There has been rain on one day of the week, to the extent of six hundredths of an inch. The ther- mometer has averaged est 40. Palestine, week. 62, the highest being 83 and the low- ... Tcaaa.—There has been no rain during tne 65, ranging from The thermometer has averaged 46 to 84. Paris, , ^ Texas.-Dry all the week. The thermometer has 69, ranged from 40 to 87, averaging San Antonio, Texas,— We have had rain on one day of the past week, the precipitation being one inch and twenty-four hundredths. Average thermometer 67, highest 88, lowest 48. Weatherford, Texas.— We have had rain on one day of the week, to the extent of twenty-four hundredths of an Inch. 64, the highest being 85 and The thermometer has averaged the lowest 42 Kerrville, Texaa.-Vfe have had a trace of rain on one day of the past week. The thermometer has ranged from 33 to 85, averaRing 69. j « iu Lampascu, Texas.— We have had rain on one day of the Inch. of an hundredths six being Itatlon past week, the precii Average thermometer 68, highest 87, lowest 84. , . THE chroniclp: 1724 Kew Orleans, Louiaxana. week. — Thfre Tne thermometer has averaged from— 67, mometer 70. highest 83, lowest 54. Montgomery, Alabama.— The drought still continues; for over six weeks everything has been drying up, bat picking has been hastened. There has been no rain the past week. The thermometer has averaged 67, the highest being 83 and 1^04.... 1903... 1902. Ualoutta 1904.... Madison, Florida.— We have had no rain during the week. 50 to 78, averaging 64. Savannah, Georgia. We have had rain on one day of the week, the rainfall reaching one hundredth of an inch. Average therniometer 66, highest 77, lowest 50. Smyrna, Oeort^ia —The weather is extremely dry. Practically no rain has fallen since Aug. 37. Light frost 'his week, bat no damage. The thermometer has ranged from 43 to 77, averaging 61. Augusta, Oeorgia.—SaXeB of cotton have been checked by weaker market. We have had no rain the past week. Average thermometer 65, highest 83, lowest 48. Charleatoa, South Ooirolina.-Wa have had rain on one day of the week, to the extent of three inches and eighty-two hundredths. The thermometer has averaged 68, the highest being 76 and the lowest 50. Stateburg, South Carolina.— The remnant of cotton bolls in th3 firild is openiog slowly. Light frost in places on two mornings on low grounds. There has been no rain daring the week and it is greatly needed. The thermometer has averaged 62'5, ranging from 44 to 81. Greenwood, South Carolina,— We have had no rain thp past week. The thermometer has ranged from 44 to 72, averaging 58 Charlotte, North Carolina.— Excellent weather for picking Farmers are holding cotton for ten cents. We have had rain on one day of the week, the rainfall reachng two han dredths of an ineh. Average thermometer 64, highest 79, lowest 42 The following statement we have also received by telegraph, showing the height of the rivers at the points named, at 8 A. M. Oct. 21, 1904, and Oct. 23, 1903. The thermometer has ranged from — Oreal Britain. Total. Oonlir nent. 2,0 --o . . ...... 1903... 1902... 3006 3.000 1,000 1,000 i'.odo 1,000 Madrus— 1904. 1,000 1. Total. 1,000 20,000 I7,0o0 22,000 lU.OOO 3.000 4.000 5,000 3,000 4.000 ^,ooo 1,000 1,000 1,000 1,000 1,000 21,000 19,000 17,000 21.000 19,000 17,000 26.000 44.000 40.000 26,000 46,000 41.000 . 1903 1902 1,' \ll others 1903 1902 1.000 00 - 1904.... 8,000 3,000 2,000 3,000 3,000 2,0U0 .. 4.000 3,000 6,000 4,000 3,000 6,000 I 1 2,0 1,000 ' Alexandrli Receipts and Shipments op Cotton.— Through arrangements we made with Messrs. Choremi, Benachi & Co., of Alexandria, we now receive a weekly movements cable of the of cotton at Alexandria, Egypt. The following are the receipts and shipments for the past week and for the corresponding week of the previous two years. Alexand- ia, Egypt, October 19. 1904. 1903. 215,000 767,484 974, 1902. Receipt* (oantars*)- Thls week Since Sept. 1 This Since week. Sept. 1. Exports (bales) — To Liverpool... To Manoneeter 2,-50 ToCJontlnent 5",6o6 .. To America the lowest 60. Selma, Alabama,—There has been no rain during the week. The thermometer has averaged 65, ranging from 45 to 90. Continent, 8omt)ay— to 82. with light frosts in some sections this morning. Cotton picking makes excellent progress, bat the movement to Mobile Is still checked by low stage of rivers. Average ther- Oreal Britain. ranging from 47 Little Rock, ^rfcansas.— Weather ideal. Crops are doing splendidly a'^^d picking makes raoid progress. We have had no rain this week. Average thermometer 64, highest 79, lowest 44. Helena, .4rfcan*xs.— Weather fine for pickine; no frost and cotton is Ptill making. There has been no rain since Oct. 11. The thermometer has averaged 61, the highest being 79 and the lowest 45. Memphis, Tennesaee.—Dry all the week. With the oontlnned fine weather piok'n^ and mirk^Hng are active. Light frost reported at several points in the M-mphis territory thts morning The thermometer has averaged 68"8, ranging from 48'2to81'2. Nashville, Tennessee,— With ideal weather, picking is being rushed and cotton marketed freely. The thermometer hae ranged from 48 to 80, averaging 63. Mobile, Alabama. —Weather dry aod cool in the interior, Since September MMporla 10. —We —We (Vol. Lixii. For the Week. has been no rain the past The tbercaomfter has avfTBged Shreveport L0uiinana.- Rain has falUn on one day daring the week to »n inappreciable ex'ent. The thermometer has ranned from 48 to 82, averaeing 6"). Columbus. Mit<$ifiaippi have had no rain dur'ng the week. Averas<- therm )m-'ter 60, highest 75. lowest 4'). Leland, UiHsissippi. have Had oo rain the p^st w^ek. The thermometer hag averaged 65'7, the highest being 89 and the lowes 41. Vtck, burg, MisfiiHsippi.— There ha-i be«n no rain the pss*^ week. . * 8,150 1,260,662 Since This voeek. 314,500 U6 Sept. 1. ThU Since week. Sept. 1, 500 27,641 11,212 7,934 4.947 33,974 10,194 1,776 2.393 35.222 13,346 36.750 6,682 65,088 15,500 71.324 28,746 92,000 19,517 10,908 30.969 3,694 400 Total exports. A cantar Is 98 lbs. 265,000 7,000 8,600 — Manchester Market. Our report received by cable to-night from Manchester states that the market is quiet for yarns and firm for shirtings. The demand for both yarn and cloth is good. give the prices for to-day below and leave those for previous weeks of this and last year for We comparison. 1904. 32« Oop. Twist. d. d. 8p. 16 9H 1903. lbs. Snirt- ings, common Mid. d. 8. e9 6 23 9ie «3i3,g 6 tt9 " ao 816,6»9«8 5 1Hfi®9 • Oct. 7 •• •' 14 858 «9a8 21 Uplds to finest. 8. Oott'n 5 11>u09 5 11»fl®9 '^9 6 d. 3 3 3 3 3 3 d. 32» Oop. 8>4 lbs. Shirt- Ootrn inqs, common Mitt Tufist. d. d. ®9B8 6-82 9 6-62 8'8 «9^ 5-80 8% "938 5 62 811, ^^PH 5S0 8",6®9"4 5-36 8>a '3i9ie Vplds to finest. 8. 5 5 d. 9 ®8 d. 41a 7isa8 3 5 7 6 5 6 5 5 5 8. d. 6-58 6-20 ®8 2 604 ®8 Ok 5-80 ^8 li« 5-94 «8 lifl 5-74 Cotton Movement and Fluctuations, 1899-1904,— New York: Latham, Alexander & Co. (Thirty-first Annual Elltion). We have been favored t his week by Mesprs. Latham, Alexander & Co. with a copy of their publication, "Cotton Movement and Fluctuations," which is now in its thirty first annual edition. All the features of former editions have been retained and much new matter introduced, including articles by Mr, Alfred B. Shepperson of New York and Messrs. Ellison & Co. of Liverpool, and an article on the srate of the cotton industry reprinted from the New York 'Evening Post." The statistical matter, which covers acreage, production, <vement, consumption, etc., is brought Qown to the close of the cotton year of 1903 4. As a book of m ready reference to those interested in cotton, the pnblication of undoubted value. IS Oct. 21, '04. Oct. 23, 03. Feet. New Orleans Above eero of gauge. Above zero of gauge. Above zero of gauge. Above zero of gauge. Above zero of gauge. Memphis Nashville Shreveport. Vlckaburg Government Weekly Cotton Feet. 3-9 3-2 6-6 0-2 5 4-8 11-3 1-2 1-5 17-6 Report.— The regular weekly cotion report issued by the Cllmite and Crop Division of the U. 8. Weather Bureau through the New Orleans Weather Offlse for the week ended October 17 was summarized as follows: Favorable weather for picking prevailed. Picking is well advanof>d generally and pr»otloally oompleted In many seotlons. In Texan p ok Ings nears Its completion as far north as the middle portions, while about one-fonrth of the crop remains In UhI-I.^ In northern counties Arkansas reports abont one-half picked. Picking delayed la some parts of Lonuiana and Mlsslselppl by scarcity of pickers. India Cotton Movement from all Ports.—The receipts of cotton at Bombay and the shipments from all India ports for the week ending Oct. 2 and for the season from Sept. 1 to Oct. 20 for three years have been as follows. ' 1904. Seeeiptt atr- Week. Bombay. .. 6.000 190S. Since Sept. 1. 48^000 '•^*- 4.000 Sept. 1. 38,000 1902. Week. 3.000 Since Sept. 1. 20.000 Egyptian Crop. — Messrs. Choremi, Benachi & Co. of Boston, and Alexandria, Egypt, write under date of Alexandria, October 1st, as follows: Some light fogs have been reported from most districts of the Interior and thece have been responsible for rather exaggerated reports of damage to the plant. Some damai^e might have been done to the bolls of these0'>Dd liokinK aod top crop which aresti 1 maturing, bat thU will only be dlfceruible in a few days. On the whole, the crop may be said to be doln^ fairly well, and the final onttarn so far promiees not to be Inferior to that of last year. Qaalliy as far as etapl'* Is concerned Is satlcfaotory but there are lndio*iioDS of a probable falling off in class sooner than nxUHl, h» behldes tbe damage done to the plant by worms during the months ol Jui-e and July, the weather has been very warm of late nearly all over the Delta, forcing maturity, umi causing ihe bolls of the sec nl crop to open before the first crop ir> plokt-d, mixing to some extent both crops and most likely lowering the class For this H«>a«on in sev>-rdi parts the first picking is larger than usual to the detriment of ihe second crop. Jute Butts, Bagging, &o. — The market for jute bigging has bfCu vny duii during the week und»r review, but prices are unchanged at 6^^' .^ for \^ lbs. aad ij^ :. for 2 lbs., sandard grade. Ju'e huits continue dull at l^@l%c. for paper quality and 2\^'i,]4,<i ior bagging quality. BtXPORTS op JOTTON QOODS from liRBAT BRITAIN.— BelOW we give the exports of cotton yarn, goods, Sec, from Great month of September and since October 1 in and 1902-03, as compiled by us from the British Board It will be noticed that we have reduced of Trade returns. the movement all to pounds. Britain for the 1908-04 . 1 Oct. 22, 1904. THE CHRONICLE. | Total bales. lotalof A.U. Cloth. rorn* Thread. 000« omitted. October November... December... Lb». 16,298 \ 13,707 1902-03 1908-Oi 1903-01 1902.03 1903-04 1902-03 1903-04 1902-03 Lh$. 84,289 80,654 Lb$. 90.146 83,60! 83,944 95,999 Lbi. 101,644 98,726 99,627 1,196,496 1,311,291 222,472 248,387 269,647 299,997 Td>. Tdi. Lbt. 17,866 402.549 444.088 18,073 375,368 418,578 424,934 448,869 Lb». 74,846 69,795 77,829 18,170 16,883 Tot.lst qnar 47,1751 Sl.UO January 16,367 17,864 458,143 475,395 85,157 89,933 101.52 February.... 17,015 16.647 481,47t' 89.491 88,191 106.500 March 14,063 17,480 437,818 463.016 486,477 81,879 90,458 66,442 106.197 102,638 107,883 Tot. 2d quar 51.211 1,377,439 l,4«4,88t' 258,080 265,477 803,4751 818,718 Total 6 mos. 91,620 102,851 2,673,934 2.786,1'; 9 478,602 514,864 678,122 616,715 77.74f 89,713 77,91>- 76,0031 e8,86( 88 278 89,382 75,184 April 14,549 16,402 May 13,595 16,811 402,762 418,120 419,049 Jnne 13,379 12,943 408,902 359,630 Tot. 8d quar. 41.52.S 46,216 1,217,045 1.196.699 225,850 222,511 3,790,97fc 3,932.878 704,352 736,876 Total 9 mos.. 136,143 148,667 July AnsTist September... rot.4thquar. Total year. . 13,991 11.095 405,381 474,62i 631,049 47l,84h 74,683 1 482,711 90,232 89,75i 481,016 872,480 9-(,708 HO,O00 87,797 69,26' 15,693 14.698 15,800 11,875 4S,38« 40,688 1,477,019 1,339,167 278.78; 249,021 94.206 94,729 104,123 114,401 103,819 104,693 953 877 87,008 1,201,697 l.il2,989 The foregoing shows that there has been exDorted f roir the United Kingdom during the twelve months 1,201,^)97,000 lbs. of manufactured cotton, against 1,812,9S6,000 lbs. last year, or a decrease of 11,389,000 lbs. A further matter of interest is the destination of these exports, and we have therefore prepared the following statements, showing the amounts taken by the principal oountries during September and since October 1 in each of the last three years. BXfOBTR OF PIBOB aOODS AND TA.BN8 TO PBIHCIPAL CODNTKIES IK BBPTEMBBR AND FBOU OCTOBER 1 TO SEPTEMBER 30. September. Piee» Ooodt—Tardi. (OOOt omitted.) KMt 1904. Indies Turkey, Egypt and Africa., China and Japan Garope (except Turkey).... douth America North America All other oonntrles Total yards. Total Talue. 1903. Oct. 1903. 1903-04 York. 886,442 38,028 1 to Sept. 1902-03 SO lbOl-02 213.402 1*16,244 199,51t> 2,413.048 2,862,294 8,317,0"8 b71,Ho6 9i 8,40U 819 04h ^3,8*3 f 8.902 44,06 5i'3 5't» f68 49B 731,2W0 58 9ta aO.lbf 36.497 !t71,976 275,7atf 19,67P 1H,4B0 61.646 324,291 4'2 lu9 49,v0u 36.84H 63a, i7K 3o.' 44 27.22>' 26.75' 26.399 817.159 317,291 296,228 29 708 23,7l3 27,7t8 874.;i02 86i5,056 ii2,y*81 Qreat French Qer- ^Oth.B'rope—^ Mexico, ports, many. North. South, die. Japan. 650 745 7,781 I,90O 1,488 20.702 6,225 6,768 5,970 66.225 15.456 1,000 6,019 40,105 7,313 7,811 4,871 10,000 8,106 Brit'n, New 840,495 81,142 377 250 arranged in our usual form, are as follows. Savannah Brunswick 289.669 233 6,0(i0 1,839 235.521 Total 268.727 103,597 600 3,519 The particulars of the foregoing shipments for the week 867,373 322.121 2 899 Boston To Liverpool- Oct. 14 -Steamer Sagamore, 1,500 Oct. 18— Steamer Devonian, 2,0i9 To Manchester-Oct. 14 Steamer Iberian, 233 Baltimore— To Liverpool -Oct. 14 - Str. Quernmore, 6,000 PHILADELPHIA—To Liverpool - Oot 14— Str. vvesternland, 1,839 To Manchester- Oct. 13-Str. Manchester Exchange, 377.. Taooma—To Japan— Oot. 15— Steamer Inverness, 250 N. Orleans, Galveston. Pensaoola. 181,527 lisg,205 4,267,998 5,272,036 081,089 986,896 1,162,616 1,175,101 Total exports ot cotton manufactures. Newport News—To Liverpool— Oot. 14— Steamer Rappahannock 2 899. ................................................. To Barcelona- Oct. 20— Bteamer uiriken, 600.'. 79,793 Stooklncrs and socks Sundry arttoies 1725 WllmVt'n.. Norfolk N'p'tJSewB Boston Baltimore. Total. 12,534 39.665 81,681 7,019 65,229 4,871 18,105 700 700 600 3,499 8,752 6,000 2,216 8,663 16,126 250 235,251 been 10,288 2,8S9 3,752 6,000 2,216 Phll'delp'a Tacoma 250 Total....lS0.465 23,581 56,436 The exports to Japan since Sept. 1, 1904, bales from Pacific ports. Cotton freights at New York the past as follows. aatur. 15 15 15 16 15 13i« 26* 18»« 28» 13ifl ISifl 25* I3I3 25* 22ifl 22]fl 20 20 20 86 15 26 15 85 16 22ifl 22i« 22ifl 17 15 15 S2is 82>« 221s 21i« 21ifl 21ifl 26 28 20 20 26 28 20 20 26 28 20 20 26 28 26 28 20-3)26 20^25 23«25 23925 23925 26 28 20 20 23 20 23 20 23 e. H»yre Bremen ,Ootober.c. c. .... .c. A.ntwerp 9hent,v.Antw'p.e. Beval, Indirect.. e. Seval, via Oanal.e. Barcelona, Nov.. e. 9enoA c Trieste e. Japan (via Buez).e Quotations are cents per 100 IbB. LiVEEPOOL. Wednet. r*i«rf. 15 c Hunborg lutt. week have been 13>i 25* 22is Liverpool. .......C. Manchester Mon. have 250 * And 25* 5 per cent. —By cable from Liverpool we have the following statement of the week's sales, stocks, &c., at that port. 471..S18 372,480 422,B'<5 6,287.9i<9 6,271.208 6,S9^,'^63 £5,452 £1.083 ;t4,375 £cO,016 Ji55,77l £66,752 30 Sept. Tarni—Lbt. (OOOf omitttd.) Holland 1,''40 2,127 Sermany 8,200 2.0^2 2.4 3 l.Hi, Oth. Burope (except Turkey East Indies China and Japan Turkey and BKypt All other oountries 897 29V 1.966 1,904 1,U9 1,393 1,8 IB 13.820 9,531 14 471 £740 £608 £617 , Total lbs Total Talue 1,15« 1,B«7 3.2flC l.>-51 28,654 •28,594 25,P35 3S.9.-9 2, OSS 22,2I» 80.448 3.9H0 16 026 20.461 8^.6^8 23,477 2H,.S36 2.S,2H8 ;52,-e8 2,917 607 1.935 165,770 £8,589 at',45t- R.1C3 21,935 11.806 33,462 18,842 154.883 169.514 1.7,251 J.7,605 20,«(38 week Oct. 14 bales. 25 000 47.000 43 000 Of which exporters took. .. Of which speculators took. Sales American 1,000 1,000 1,000 1,000 18 000 37.000 3 00C 58 000 35000 Sales of the Forwarded Total stock— Estimated Of which American— EBt'd. Total imnort of the week..... 55 000 146,000 89,000 96 000 83,000 247 000 235,000 21 Oct. 45,000 1,000 139O0t 000 150 000 90 000 107,01.0 37,000 5,000 83,000 252,000 205,000 520C0 95 000 89 000 190 000 172,000 4,000 Actual export Of which American — Oct. 7. 51,000 3 000 8'2 424 000 463 000 411.000 News. As shown on a previona page, the &.mount afloat ..... Of which American 385 OOb 430 000 389,000 exports of cotton from the United States the past week have reached 235,531 bales. The shipments in detail, as made np The tone of the Liverpool market for spots and futures from mall and telegraphic returns, are as follows: each day of the week ending Oct. 21 and the daily closing Total bale*. of spot cotton, have been as follows. Nbw York—To Liverpool, per steamer Victorian, 7,881 7,581 prices Sbippinq To Hull, per steamer Idaho, 200 To Havre, per Bteamers Bordeanx, 1,850 upland and 50 200 Sea Island To Bremen, per Bteamer Bremen (additional), 1,458 To Antwerp, per steamers Brliish Prinoeee, 550 Finland, 100 To Genoa, per steamer Hohenzollern, 212 To Naples, percteamer Hohenzollern, 4»7 To Trieste, per stfamer Unonla, 36 New OBLBAN8 To Llv<<rpool— Oot. i4-8tr Dictator, 8,177 Oct. 19 - Steamer Piorldlan, 4,200 ToManchPSter Oot. 18--8teamer Cuhan, 3.500 To Self aHt— Oct 18-8teamer Ramore Head, 4,825 To Marseilles -Oc^ 13— Steamer TlKer. 20 ). To Dnnkirk-Oot. ai-atfamttrStanfleld 8,0 5k To Bremen Oot. i6— Steamer Lugano, e..-" 16 To HambuFK-Oot. 21 Bteamer Valencia, 252 To Oenoa Oot. 15 Bteamer Albion, 5,970 Qalvbbton-To Liverpool -Oot. 15 Steamer Norseman, 26,865 ...Oct. 17-8teBmer Colonial, 12,305. ...Oot. 18 Steamer Roval, 13,583 To Manohe-ter-Oot. 18 Str. MiKuel de Larrlnaga, 13,47i To Havre Oct. 18- Steamer Mohawk. 15,4=.6 Pbh«aoola-To Liverpool Oct. 20-8teamer Oraota, 6,0l6 To Genoa— Oot. l,')-8teamer Marianne, l,ooo 1,900 1,453 BATANNAH-To Bremen-Oot. 16-»teamere 650 Sat'day. Spot. Market, 12:30 P. ( (inlet. H. ^ 12,377 3,500 4,><25 Mid. Upl'ds, Sales Spec. A exp, Qood demand. 5-48 5-36 5 44 5 42 5 36 7.000 7,000 8,000 200 300 300 300 7 000 300 Basy at Market 3®5 Market, On let at 6®7 pta. 4 M. p. Dall at pta. aea on. deoMne. advance. decline. 600 oniet, nnch. to dec 3 pta. BasT at 7 pts. decline. IrreR. at Qntet at Steady at 1®3 3i34 pta. tdTanoe. pta. decline. 3 pts. decline. Onlet, Firm at Br'lyat'dy Br'lyat'dy nnch. to 2 pts. a®4 pts. 6(SH pta. decline. advance. decline. dec. 1 pt. The prices of futures at Liverpool for each day are given below. Prices are on the basis of Uplands, Qood Ordinary clause, unless otherwise stated, The prices are given in pence and 100th. Thus: 688 means mr 5 38-100<l. 1,850 3,428 350 15-8teamer Guernsey, 985 Oot. 21StramtT Ljrd Diiff^rln, 200 1185 To Autw«rp- Oct. 17 Steamer Hermlston, 500 500 To Ouorto- Oct. 15— Steamer Florida, 200 20i> To Harcelona Oct. 15 SteHiner MafKherlta, 4.316 4,^16 To Gt-noa Oct. l^ Bteamer Mar«liHr ita, :^,h95 2,805 To irieme— Oct. 15 Mtt^amer Marirherlta, lOO 4()0 Bhoubwiok- To Liverpool— Oot. 19-8teamer Oalrn-sit, 1,7.8. 1.7:^8 To Manchester - Oot. l»-8teamer CalrncBk, ;<,14,< 3,i43 WIlMiN.M(.r. To LIverpool-Ooc. 4 Steamer Tolosa, 10,000. 10 000 To Bremen Oct l5-8teamer Huelva. 8 105 8,103 noaFuL&— To Antwerp -Oot. 13—Bteamer Maria, "/OO 700 Fair bnslneas doing. 8,000 opened. — Oot. Fair bualneea dolnR. 5 48 200 To Reval Oct 1'^— Steamers Florida, i60; Guernsey, 600 Oct. 17— Hteamer iiiswlck Tower, 400 Oot. 21— To Rlxa doing. 6,000 6 025 6,516 252 5,97u 52.753 13,47/ 15.456 6.019 1,000 Pair bnslneas PulureM. Guernsey 7,445 Oot. 17-8teamer Klswiok Tower, 8 99S ...Oct. 21-8teamer Lord Dufferln, 13.110 40.105 Oct. 18 -Steamf^r Voorbnrg. 2,928 ToSr, Pe'ersburg-Oci. 15- Steamers Florida, 150; Ouerney. iOO Oood demand. 21'2 497 36 Florida. Il,fi55; St«amer Lord Diifferin. 7oO To Rorterdam Oct l7-8teamer Hermlston. 500 Monday. Tuesday. Wed' day. Thursd'y Friday. I Sat. IVon. Tnes. TTed. Oct. 15. Oct. 17. Oct. 18. Oct. d. d. d. d. d. 5 88 5 36 5 ;-<8 5 34 5 25 6 3hI5 3.^ 5 37 5 34 5 24 Nov. -Dee.... 6 37 5 35 87 6 34 5 24 37 5?65 38 6 aft 5 '.?7 Deo. -Ian... Jan. -Feb 5 38 6 37 5 89 6 87 5 29 Feb. Moh. .. 5 «U 5 .S8 5 40 6 3R B HO Moh. -April. A 40 5 3U5 41 5 39 r^ 81 April Hay 5 42 5 40 5 42 6 40 5 88 May- June.., 6 41i6 405 43 6 41 6 83 ,«) Oct. 20. FrI. Oct. 12 d. d. d. d. 33 5 82 5 30 33 5 32 6 30 83 6 32 530 36 5 3'' 5 32 88 5 37 5 34 5 3* 5 39 5 88 5 3% 5 H7 ^ 40 5 89 6 36 5 38 5 4 1 6 40 6 37 5 3P 5 42,6 41 6 37 5 30 5 5 30 .i 6 3< 5 6 3? S 5 3.' 5 d. i. I d 6 27 6 25 5 27 6 27 6 2ft 6 V7 5 27 5 25 5 26 5 29 5 27 5 28 5 30 5 28,5 5 81 5 2n 5 6 32 .^ 30 .^ 6 33 6 81 5 6 83 5 31 5 29 .^0 31 32 83 6 30 6 38 June- luly. Jaly-Aog -Hept Thnrs. ISHi 1 121a 4 12i«| i 12>a 4 12>« 4 I211 4 P.M. P.M P.M. P.M P.M.IP.M. P.M. P.M P.M. P.M. P.M. {p.m. October. Out Nov.. Ang 19 . . ..[6 32 . . THE CHRONICLE. 17i>G BREADSTUPPS. Friday. Oct 21, 1904. A fair volame of baelnegs has been transacted in the market for wheat Hour. Jobbers and dealers as a general rnle are not bnyinK mnch In advance of current wants, and this keeps them in the market as steady buyers. Prices have ruled firm, in sympathy with the strontjer turn to the mar ktt for the grain. Uity mills h-ive had a miderate sale at firm prices. Olferlnga of rye fl)ar have been limited, and as there has b'>ea a moderate j jibing buBlness, prices have ruled firm. The demand for buckwheat flaur has been limited and prices have yielded slightly. Cjrn meal has been in [Vol. Lxxix. to United Kicgdoin, 149,000 bushels wheat, and to variona South Pacific ports, ll,'i5« bbls. flour, 300 butlu-ls corn and HO bushels wheat. Combining these figures with those for previous weeks, we aave the following, which covers the exports to foreign countries for the period since July 1, 1904, comparison being made with the corresponding period of 1908. Mxporti Flour, fro'm— 4«n Fran. Paget H'd. Portland.. Total &6tf. Wheal, Corn, Oait, tfush. buth. 5,416 6,188 buth. 326 877 386.069 165,000 252,149 175,520 119,689 876.986 546,358 Barley, Jive. bush. 823 7,693 buth. 860,678 24.050 422 346 884,723 768 8 11,654 8,523 rot 1903. 890.966 l,389.d00 14.793 16C,850 4.001.000 moderate demand and firm. 363 Speculation in wheat for future delivery has been fairly Exports of Breadstupps, Provisions, Cotton and active and there has been a moderate advance in prices, those for December delivery showing the greatest gain. Shorts of Petroleuji.— The exports of these articles during tne month this delivery have shown from time to time increasing un- of September, and the nine months, for the past three years easiness. The advices received from the interior have re- *iave been as follows: ported only a comparatively email percentage of the re1901. 1008. 1002. Export! ceipts of wheat coming up to contract grades, and from O. 8. September. the extreme prices millers are paying for choice Month*. September. Months Septtmler. 9 Months grades was taken as additional evidence of the limQuantities. ited supply of good grades of wheat. Buying to Wheat.busb S22.i8» 9,768.728 e.830.29; 6<,665377 IT.eSO.SlC 09.818.101 cover ehort sales of December delivery han been the nour...bblB 810,760 9.048.011 1.8M.77» 13.624,76b 1.708,458 12.870,:01 feature of trading during the week and as the offerings have Wheat... .bu 4.006.013 50.478.772 14.550.776 llfi.717.3S8 85,308.100 l£0.8ei.S48 been limited, prices have advanced to within a small fraction Corn... bush 8.205.769 31,431,968 8,679,847 78.608,e8<' 825.04» 6,T88JM4 of the high price for the season. Attention also was called to a falling of in the receipts in the Southwest and this had Tot.bush.. 7,801,702 81,910,740 18,280,6^2 18i>,821.024 86,631,048 l57.66«iH Its itfiuences in favor of the market. European cable advices Valuei. t t t t have been quiet but they received comparatively little atten- Wh'tAflonr, 8.976,016 46.810.330 12.823 ,883.636 10,811 104 117.««0,671 tion. The spot market has been firmer but quiet. Today Corn& meal. i.ooa.asH 19,111,467 8,278, 272,364 6,887.310 .813.345 the market was firmer on decreasing receipts. The spot Rye 59,471! 883 22, 614,784 ,518.82^ 1,746,7U market was firmer but quiet. Oats & meal. 57.^168 81.766 115, ,818.407 781,541 8,C50,eM \ DAILT OLOaiNO PKI0E8OF WHB1.T FUTCBBS IK NE1¥ YORK, Sat Mon. Tues. Wed. Thurt. ^ri. No.2red winter, f.o. b... 130i« 119 120«8 121\ I2lifl 12338 Deo. deUvery In elev.... 117i« 116 11788 118% 118 llS'^a 114i« 112B8 HS'^s May delivery In elev H^h 114»4 115 DAILT 0LO8IHQ PRI0B8 OF WHEAT FDTTJBE8 IN OiHOAOO. Sat Mon. Tuts. Wed. Thurg. fri. Deo. deUv. In el»v May delivery In elev July aeuv. in eiev iiaag lia?8 112i4 111 98''8 97J4 II414 112»i 11638 lUSa 113"'8 llSOs 11538 114.H 99>4 Barley Br'dstuffs... 869,206 1,962,365 860, ,676.900 6,419.905 69,376.708 15.690, ,191.106 1,160,740 2,812.188 81,070.488 180,505.481 Provisions*. 15.103.648 141,80e,3P8 16,574, 200.513 13.138.t'2» 140.880,080 Cotton 43.74?.3«6 107,015.093 21,170, ,608.^08 58.722,477 6.370, ,652,801 Petrol'm.Ac. 7,160,505 Tot. value. * 20.OSOSU 165,036,880 4,812,9861 48,771,487 72.6<6.2'7 465.423.':66 69.733.891|517.142.r0~| 70.153.106 186.161,880 Including oattle and hogs In months and yesrs. all The movement of breadstuff s to market as Indicated in the ludian corn futures have received a moderate amount of •tatements below la prepared by us from figures collected speculative attention but the change in prices for the week by the New York Produce Exchange. The receipts at has been only a slight one. Weather conditions in the corn Western lake and river ports for the week ending Oct. 16 98 99 9914 have been reported generally favorable, but, in sympathy with the advancing tendency to values for wheat, the market held fairly steady. On Thursday, however, the market developed weakness, particularly for the near-by deliveries. Advices received from the interior reported receipts of new-crop corn and St. Louis reported that new corn received was grading No. 2. The gathering of the new crop, it is reported, will soon be under fairly active progress, and the evidences of good quality are maintained. The spot market has been quiet and easier. To-day there was a steadier market. DAILY 0LO8IMO PBIOEI OF NO. 2 MIXED OORM IN NE^T YORK. belt Gash 00m Jfon Sat. f. o. b Deo. delivery In elev May delivery In elev 68 66% 5688 5538 Ttie*. Wed. 57% 58% 58 56"»8 56ie 56i« Thurt. Fn. 58H 56U 51^ 51 61 51% 5138 51% DAILY CLOSING P&ICE8 OF NO 2 MIXED OOBN IN CHICAGO. Sat. Mon. Tuet. Wed. Thurt. Fri. Deo. delivery in elev 48 <9H 48>a 48% 491s 483b 45i« May delivery In elev 45*8 4478 46''8 4568 4638 Jnly delivery in elev 45^8 44^8 4538 44»a 45»« 4538 Oats for future delivery have been quiet. Early in the week prices yielded under the full-crop movement. Duricg the week, however, there was a considerable falling off in the receipts, and with stocks gaining less rapidly than expectad, the market turned steadier and prices advanced. The spot market has been quiet but steady. To-day the market was firmer on the lighter receipts. DAILY CLOBINO PRICES OF OATS IN YORK. NEW Mon. Sat. Tuet. No. 2 mixed in elev Ko. 2 wlilte In elev Wed. Thura. Fri. Nom. Nom. Nom. Nom. Nom. Norn. Nom. Nom. Nom. Nom. Nom. Nom. DAILY OLOBINQ PRICES OF NO. 2 MIXED OATS IN CHICAGO: Oot. deltT^ry In "lev Deo. delivery in elev May delivery in elev Sat. Mon. Tues. Wed. 28»« 28i« SO^e 28^4 28>« 3088 28»4 28I4 29 29>« 29 88% SCa 31»4 SO'e 29^ 31^ Thurt. 29H Fri. Following are the closing quotations: Wears StralKhta Patent, spring Nominal. $3 76 ®3 85 4 00 -34 10 4 26 '94 50 4 50 «& 40 5 35 '815 75 5 85 It? 05 Corn meal- Brandy wine 75 '3)6 00 75 ®7 00 40 '94 90 15 '92 40 N. DuL.No. 1..... N. Dnl., No. 2: Red winter, No. 2.. Hard winter, No. 2. Oats— Mixed, p. bash. White No. 2 mixed.. No. 2 white f.o.b.l28''8 X.o.b.J23'8 f.O.b. 12238 f.o.b.ll8''8 34l«935l9 85 '939»s Nominal. NomlnaL 3 10 3 15 Com, per bashWeatem mixed No. 2 mixed No. 2 yeUow No. 2 white Rye, per boshWestern State and Jersey.... Barley— West Feedlnsr WhtaU Bbi(.igPIb> Chloago Ullwankee . 016,009 16.160, 80. '00 8.200 253,330 16,861 78,780 0,110 16.118' 78.856 583,832 831.800 503.660 ao.8co 143,000 81.106 81,200 eao.ioo 308.000 870.000 888,60( 106.600 4,800 8,900.677 818.030 106,060 8.486.813 S88450 Toledo Detroit . . 38,£00 Kansas CityTot. wk. 1904 Same wk. '08. Same wk. '03. Sine* aug. 1. 1004 1903 1902 Bvt. 338,610 1,541,870 3.887,860 Minneapolis. Cleveland St. LOQlS .... Peoria B%HSM. 0at>. 1,04'',531 104,000 Dnltith Vorn, BU(H.60(M BMUhJK lbs Bu<h.32 Ih Bu*h.*Slbr B\tMlbs. 309,662 82.076 623.878 478.488 587,630 4,280,182 1.754.000 218.40< 1,883,508 1.038,880 860.960 609.667 483,009 47,000 67,600 800 51.803' 126.482 049.858 1 10.150 83.200 40,031 66.395 04,310 8.600 •••••• 105,700 8,398.101 2,119,219 6.^47,67^ ~3.898.625 7,293.677 8,812,193 4,410.517 8,l»3,0ll 2,138,357 3,093,86e 70.919,987 35,806.121 58.597,605 63,301,578 42,658.355 40.871. 18P 91.14«,317 20.310.572 64.052.«*<n 4,717.002 5.871.647 81.916.820 3,101.480 10 0)8.185 1.807,874 15. til. 470 3,361.080 The receipts of flour and grain at the seaboard ports for the week ended Oct. 15, 1904, foUow: iour. oarn, 0«l«, ti^rllt Ar., 'this Receipts at— bns\ brut. New York ,,.....,-«.. 1S0,6S7 68,000 340.676 681.590 154.100 Boston Montreal Baltimore »». ^^^ Richmond. New Orleans* Newport News....— . Norfolk Galveston Portland, 008 41,398 17,158 29,172 85,614 4,766 11.641 21,403 4,i87 .«... -.— Pnlladelphla 09 02.824 18.717 87,828 36.478 17.000 101.761 100,703 B.'MO 8.666 23,008 7.000 33.113 lOO.'O 61,167 29.a70 01. 9.800 49.820 16,800 Me 1,100 10.8 J ( 19.100 16,000 'i',666 'soo 16,583 0,411 Total week...„», 818.84 2 807,173 982.058 958.961 1»9,104 18.883 Week 1903 416.783 8.200.191 1,711,836 783.583 93.680 51,183 • Reo«lpti do not Include eraln passing throogh New Jrleans for foreiKU oorit on through bills of lading. M4*H9lt»f- from Jan. 1901. '1ou„ 1 to Oct. 15 compare as .bask. .. Oats .. Barley aye. ... . ^3 25 , • Totaigraln ..— 0. o. 64 !»B8>4 t.o.h.SSH t. o. f. o. b.6 1 83 '985 Nominal. 53 '964 39i«a42>« Exports of tlrain and Floar from Pacific Ports.— The exports of grain and flour from Pacific porta for the week ending Oct. 20, as received by telegraph, have been as follows: From San Francisco to Japan and China, 39,000 bbls. flour, 1908 16.014.097 1001. 17,748,808 83.266.241 43.462.788 87.b8O.206 80.816,265 107.280 383 132,655.181 a.flSS.OlO t!«9.863 " 117,701,052 83.120.1! 88 13.98<!.18» K8.l'11.873 4.M79.636 2.830.900 3.530,379 41.1-4.167 1,809 '0> 3,700 037 6i,lu6,804 8,0s6.752 3,3:4,261 212,(.36.193 167,004,751 300.017.C61 The exports from the several seaboard ports tor the week eading Oct. 15, 1004 are shown in the annexed statement: , % b.69% 1903. 16.6(33.887 bblf* 18.663.620 Wheat Corn Its 15 OBAIN. Wheat, per bush— now. at— have been: oUows Patent, winter $5 City mills, patent. 6 Rye flour, snperflne 4 Buckwheat Hoar.. 2 Western, eto Receipts for each of the last three years 1, Total receipts at port! for four years: FLOUR. Fine. Saperllne Extra, No. 2 Extra, No. 1 and since Aug. fVhsnt, Mattrts from— hush, 4«w York loston 'ortiand. v« kliaCelphla. 0»rn, Ilour, bbU. Oats, busk. Fims, B*rln, 8S0,»'2O 60.C89 ^2,189 83.805 8,710 9,411 7.737 kiuk. 37.869 300 10.620 ""ood (altlmor* '•wOrlMns 5.181 lorfolk law^'rcNaws 81.493 17.807 716.935 '08.1,918,495 8,003,193 15J.6Sd 310,770 watk Sam* tima 3.0.-0 4.-127 269.911 iontrcal Total '82.142 16.081 21 1.8:8 133.211 74,848 18.786 2,000 le.oso 9.737 14,180 66,870 83,09T .. : THE CHRONICLE. Oct. 22, 1904] 1, — Hour, WKk end lin** /«!« 1 t»Onltad Kinsdom ^ Oontlnant A 0. AmarlH. wait IndlM...« r.M.Am.Oolo'i demand -< 1, 1804. 985,101 464.812 193,718 313.887 17,768 •tktr •oaatrlai 1, qpotll 95,8';a 4,705,157 1U04. 1,613.485 Corn, Wttk_ 0<n(*J«lt . Oct. 15. 1904. 1, bu$h bu«h. hvth. 4,186,447 5.030,987 28,478 319.7S4 377.99* 1,193 16,(50 300 1,C64 4,736,997 26,101,518 716,935 2,003,493 617.317 8,860 156656 ~2l)71,088 Total 1B03-08.... 316.770 -^ Sin** Ju'v bu(h. bUt. 8?,2B1 83.684 i4,8«e 3,263 7,099 Wtik Oct. 16. bbU. ltf.684 W*««t. f~ ainttJuly Tr««fc Oct. 16. 4,09rt.2l6 51,261 301.808 57,861 24.618 9597,944 17,482.986 The visible supply of grain, comprising the stocks in nanary at the principal points of accnmalatlon at lake and Seaboard ports, Oct. 15, 19C4, was as follows:, Oati, »«(» 0*r», »tt*k. iiiit«r*«»- 801.000 16,000 New Tork......... Do afloat.. Borton , Pklladelphia Baltimore Hew Orloani.. 171000 978.000 ..« 168 boo 000 US ,^„„„ aaiTMton Montraal •oionto SiCalO i*-""" -. 1.262 000 Do afloat «• DO afloat Detroit Do afloat OUiagO Do afloat...... MUwankoa Do afloat •„•,•„„• Z68,00J ,"•-.«489.000 ;,..„._ 8.S65.000 Toledo :ivv„v — I'^-OOO Wmiam Fort »ti*> 181O0O 163 bod 6,000 77,000 142 000 53,00U 404,000 269,000 2.000 686,000 230.a00 243.000 1,53J.010 7,000 1,000 67 000 887,000 44,000 29,000 l,751.6bb 4,848 000 (64,000 42,000 2.000 743 000 4,000 664,000 "8,000 69,000 6000 653,000 8,099,000 136,000 2,056 000 3.74e.0C0 S,l9j,000 10.000 2,000 6,859 066 1.073.000 117.000 7,000 736.000 82.C00 a.oda.'coo "49,000 2 000 47,000 1,694.000 271,060 l,823,bo6 ai 2,000 23,419.000 16, 1904 8. 1904.. 20,797.000 23.806.000 17, 1003 18, 1902. 27.654,000 19, 1901.. .39 393,000 3,61(6.000 Do afloat IClimaapolli St.Lonli afloat. ..^• KaniaiOttr Paoria ^. DKianayolli on MiMiiiippl Blrar •Lakai OiaanalandrlTar. Got. Oct. Oct. Oct, Oct. 96 000 as oco "'^""P DaJath Total Total Total Total Total dan* iit*. 156 000 '.868200 PortAnkBT _ Do 1,604 000 26.000 4»7,Ou0 ' . 8*4.600 2 'sr.r. 111 000 2,000 1.066,000 86,000 8S1 000 513,000 '79.000 & 5.000 4.199.000 4,556,000 8.412.000 a.231.000 13,449,000 28,788 000 22,588,000 7 889.000 7.765,000 8.014.000 1,618.000 1,49U,000 961,000 1.040.000 1.866.000 4.000 P65,000 491,0i)0 5,665, 0( 5,3ii<!,0' 4,8S9,Olo 3,' 1727 The export has resulted in the market being well sold up. sine below: 1904, ia as maperti f»f week and of these expatts for the Tbe destination July ' , 89.000 a,58lJ,OOo THE DRY GOODS TRADE. for light-weights continues, several inquiries for 8'50 and 4-yard sheetings having been received. No business in this direction is possible, however, except for future delivery, and sellers remain fiim In their demai da. There has been some improvt-ment in the demand for bleached gocds and there is a growing scarcity of supplies, particuInquiries have been received for larly of low-grade goods. delivery ahead. Sheets and pillow cases are in moderate request and hold steady. The export demand for cotton duck has been of fair proportions. Denims, ticks, plaids, cheviots and other similar goods are quiet at recent figures. There is an awakening interest in kid-tinished cambrics but prices are unchanged. Staple and fine grades of ginghams show an improvement and more business has been done in staple and fancy prints. Canton flannels and cotton blankets have been inquired for for export and the prospects of business are good. Print cloths remain unchanged, and, with the exception of one sale of 50,000 regulars, the volume of business during the week has been inconsiderable. Woolen Goods, —A steady advance in prices marks the course of the woolen goods market, and all lines are being firmly held. Buyers are raising no serious objection to this, as they fully realize that the courte of the wool market leaves the manufacturers no alternative, The demand therefore keeps up and business is generally in a satisfactory conIn the men's-wear division the principal feature dition. during the past two weeks has been a continued demand for heavy weights for this season's wear. The policy of mills in accepting this business is being criticized in certain directions, as it Is feared that it may seriously interfere with the Initial business in lightdeliveries of light-weight goods. weights has been fairly well taken care of, but the time is approaching when duplicate orders will be received in large quantities and deliveries may not be readily obtainable. This demand, however. Is leading agents to expect a good season for the new heavy-weights, and it is probable that this will open earlier than usual and that prices will be higher, Dress goods continue satisfactory, and in the anticipation of higher prices in the near future the cutting-up trade and jobbers have bought spring lines with considerable freedom, Overcoatings and cloakings have been in moderate demand at full prices. Dry Goods.— Imported woolen and worsttd Yoek, Friday, P. M. October 21. 1904. dress goods have shared in the improved general demand and The cotton gocds market during the past week has been the tendency now seems to be towards plain staple fabrics. marked by decided firmness in nearly all lines, altbongh Ribbons have been in moderate request during the week at actual changes in quotations have been few. Bayers seem recent prices. Silks have been firm, with an improving deat last to have realized that the market is in a very strong mand. Linens continue to show activity and are firmly held. FoEEiGN New atatistical position, and the increasing difficulty in securing deliveries, owing to the scarcity of supplies, has induced buying on a considerably larger scale. This applies not only to Burlaps are steady at recent figures. Importation* and UTarelioase W^ltlidrawala of Dry the business for immediace delivery but also to future coatracts, whereas a week ago thirty days ahead was as far as any home buyer would go in anticipating his wants; orders have been placed during tbe week extending to next January. Sellers have had no difficulty in obtaining full prices, but any attempt to advance values would be met with strong opposition on the part of buyers, in view of the declining cotton market and the prospects of an excellent crop. Oa the other hand, the continued curtailment of manufacture and the small stocks in first hands constitute the principal strength of the situation. The export demand has again been comparatively small, but It is expected to revive shortly. China and Japan have been in tbe market to a moderate extent but business in otber directions has been unimportant. The com in aed strength of the wool market has caused further advances in the woolen-goods market, but this has in no way checked the normal demand, and business is therefore satisfactory to the agents. Theimportationsand warehouse withdrawalsof dry goods at this port for the week ending Oct. 20, 1904, and since January 1, 1904, and for the corresponding periods of last Domestic Cotton Ooods.—The exports of cotton goods from this v-ort for the week ending Oct. 17 were 1,929 packages, valued at |I43,3I3, their destination being to the points specified in the tables below year are as follows: S| 0', m f. , 0 GO K-M I J^ <k I S; c. o i : I I i i • : : : : : : S » o ® : : . : : Oreat Britain Other Earopean.. China 32 a 8 India Mexico Central Amerloa. Boath America... Other OoantrleB. Total. 981 678 69,822 16 501 43 101 701 518 5,932 14.857 8,211 16,371 1,845 11,623 43,552 17,037 1,929 190,909 Arabia Atrlea West Indies Since Jan. St* 2 I 1. Week. 22 2 319 263 ""l2 498 45 231 1,691 330 3,418 Since Jan, 1 1,543 1,120 112,702 11,883 81,925 8,095 23.160 2,463 9,621 48.250 8,647 , i : ! 0, p B , • . , • . c ! a. , I , ^ ' Wi^tOil^ to QDO 0) 0< ACTION S '" to<ipp<x> QDCM Sicn RjOO 00 1^ CO 00 to O (A^OOOO 03 I »o_<l~l®p I I-" to The value ' M_ »a COOltOOttr* ! MtO^OtCO I I poo I <i 1 MOai-iOii-i h-^ i^M aav . I WW OOMM^w todito^a too'tooooa *^ta\ I i WtO I ' w'o ^00 <o<» '-o a 00 to a -J t qIm a o — <^coco^-a «»• M *. aWio'to to tOM MM 53 10 « p to wtooa'-)*'WM yioo-4 to CO O)*' CO o ©'to O <1 00 WACO© iccoawM « 00 00 ottnootooo oiaMioeo ob>Vibo"i^ ©©CRl^OD cDOcowoD ao^ 0000 M ^V •iatao'O , 0D)»*C^OQ0 14 00O>OC0O a o to ^g) -1 -si a o** W too ~j^ i—'O 00 to «o y> Vo'a>Vo>'-j Oi-i tl 60 «a'<c"<i woo <ito "> O^OSI—OO I , tSi ooVj'itkOoj I M 00 ex 00 uTf.Oo'oQO oeojoocooo tOi(>. OS V" 00 oou^^ho «»• ^oa<aoeo woi 0"J 00— ;>JaD^ w o o» MUl-aoicn MOwaw-efB I oi^ooo'Vo Is 00 00 00 ODCO^COCO (^ Mi».MtOOJ ^ODOO " eoio ' toft- Phi WCOCOOM »>-• _^_wao_oto -' ^ 009 ! o^aoco cDta a 00 a» to JO i O5'«O5'Vj00 oaoco*o oo aw wccaow-a gi«l wwcotooo tococo^ M »0 -co ! 1^ S9 ©to looj St » ; • "I 50C5 -0 prices. Buyers, however, are experiencing considerable difficulty in getting agents to guarantee shipment. Business in light weiKhts has been comparatively large and prices show a distinct advancing tendency. Four-yard sheetings are particulaily firm, and the recent large export demand : a> f M 259,409 of these New York exports since Jan. 1 has been $11.573, fl79 in 1901, against $11,794,771 in 1903. Both ji)bb-rs and converters have been operating more freely during the week and the improved demand has com prised a large variety of goods. Heavy brown drills and sheetings have been in moderate request and some fair sized orders have been placed for immediate delivery at fnll 3E »: © 1903. 1904. 17, Week. B EH oai-. K«w ToBK TO Oct, Gooda r'l 00 ocdoeoco Mtocotoccse COM- MCoVioa^ ?--4 a>©0:©ii^ aoD^eoi-' aoonoeo « pp ooosViVm ao to © OQ 0> Ob w^c«:toco -,J I j o «. ^ «. ^ CO ^oxsoaxi a to _» to toVn'V'-' OJOD'OO'-J ooww-jgo •J tow :^(j< tOCOCO»-J ——— : THE CHRONICLE. 1728 STi4T£ /^TJB [Vol. Lxiix. Bond Calls and Redemptions. City liitfAnrwrnr, Colorado.— PTarrunf Call.— Hon Whitney Newton, Stat© Treasurer, caUs for payment thirty days from the dLate of notice (Ojtober 10) the following warrants : Uevenne warrantg of 1!»0S. No«. 40«3 to 40T7, InoluslTe. Ucvi-iiiK; warrmitB of 1901. Non. 1420 to 15»l, Inclusive. Cupllol UuildlUK wurruiits, Nos. 37U» to 3'Z5, iDclunlve. PUBLISHED WEEKLY. San Mlgaei Cuanty (P. 0. Las Vegas), N. Mex.— Bond CaH. —Engenio Romero, County Treaeurer, calls for payfor One Year, Inoladlng all Bdpplkmbnts f 10 00 ment November 1 at the Chemical National Bank, New York For Six Months 6 00 Knropean SabBorlptlon (Inoludlng postage) 13 00 City, all funding bonds of this county dated July 1, 1889. oropean ijubBorlptlon Blx Months (liusladlng postage) 7 50 Accrued interest;, will be paid on bonds from July 1, 1904, to Nov. 1, 1904, after which date all interest will cease. The Railway and Inddsteial Section, Isanedqaarterlf, Is fumlBhed without extra charge to every annual sabsorlberof tbeCOMMEBCiAXAND TTie official notice of this bond call v>ill be found among Financial Curoniclb. The 8TATK AND CiTY Soctlon, Issued semi-annually, Is also famished the advertisements elsewhere in this Department, Terms of Sabscrlptlon— Payable in Adrance: without extra -/large to every subscriber of the Chkoniclk. The 8TBKKT Railway Section, Issued throe times a year. Is Ukevrtse furnished without extra charge to every subscriber of the Cheoniclb. The Bank and Quotation Section, Issued monthly. Is also faralahed without extra charge to every subscriber of the Chboniolb. Bond Proposals and Negotiations tbii week fcave been as follows: Aberdeen, M.Ib».— Bonds Not Sold— Bond Offering,— The Terms of AdTertising—(Per Inch Space). $70,000 5% 20-year water and sewer bonds offered on OctoProposals are again asked for, this time Transient matter (each time) 94 20 Three Months (13 times)... $29 00 ber 5 were not sold. STANDINO BUSINESS CAED8. Six Months Address J. M.. Acker, Mayor. (26 times)... 50 00 until 7:30 P. M. November 2. Two Months $22 00 Twelve Months (52 times) ... 87 00 (8 times) TTILIilAin B. BANA COMPANY, .Pabliithers, Pine Street, corner of Pearl Street, FosT Office Box 958. NET*' YORK. Index. An the news matter appearing in this Department for the period from Jaly 2, 1904, to Oct. 8, 1904, inclusive, was published in the Chronicle of Oct. 16, 1904, pages 1664, 1665, 1668 and 1667. index to all See V. 79, p. 7tf8, for description of securities. Aitkin, Minn. Bond O^ertngr.— Proposals will be received until 8 P. M., November 7, by A. O. Vachon, Village Recorder, for $24,000 4« bonds. Authority, Chapter 864, Laws of 1903. Denomination, $1,000. Date. Dec. 1, 1904. Interest, semiannual. Maturity, 10 years. Either draft or certificate of deposit for $!00 required. AkroB, Ohio.— Bond Sate.— The $3'^.f500 43^« coupon refunding bonds described in V. 79, p. 1049, have been sold to Spifzer Co. of Toledo for $38,221. Dduomination, $1,000, except one bond for $500. Date, Sept. 1. 1904. Interest, semi-annual. Maturity, $6,000 Sept. 1, 1914; $8,000 Sept. 1. & 1915; $7,n00 Sept. 1, 1918. 1, 1916; $7,000 Sept. 1, 1917, and $7,500 Sept. News Franklin County, III items. —Judgment.— The County Clerk writes us that the XJoited States Circuit Court in Illiaois recently gave judgrm-nt to Mrs. Emm* P. Farry of New York in the sum of |23,773 20, beiog prinsipal and interest on the bonds issued by the county in aid of the Belleville & Eldorado Railroad, and which have been in default for someyeiirs. The bonds sued upon ara part of an issue of $149,000 Sa, a portion at least of which wa believe haa been declared invalid by the courts. We are not informed as to the grounds on which the above judgment was granted. The Board of Supervisors on Oetooer 8 passed a resolution diref,ting the attorneys tor the county to tatee the case to the U. S. Circuit Court of Appeals, and, if the judgment is therein affirmed, to the U. S. Supreme Coart. {ieorgia.—Constituiional Amendment Ratified. Fr om returns received by the Secretary of State all the Cons'itutional amendments submitted to the voters at the election October 5 carried by majorities ranging from 10,391 to These amendments were outlined briefly i n the 19.020. — Chronicle Aug. 20, page 746. Mexico.— L-oaw —The new $40,000,000 Uoited Spates of Mexico 4 per cent gold bonds have bpen secured by a syndicate formed by Speyer & Co. of New York City and composed of Spever & Co., the Matual Life losura^ce Co the Equitable Life Insurance Co., the Gaaranty Trust Co., the Union Trust Co, the Central Trust Co tbe National City Bank, Hirvey Fisk & Sons, Lazard Freres and others of New York Citv; the First National Bank of Chicago, the Girard Trust Co. of Philadelphia and the Old Colony Trust , , Co. of Boston. Spsyer Bros, of London, L Speyer Ellissen of Frankfort-on-the-Matn, the Dautsche Bank of Berlin and Teixeira de Mattos Bros, of Amsterdam, throagh whom tbe bonds will be placed in Europe, are also interested. Of the loan about $2l,000;000 is to be u^ed to retire the 4}4l Treasury notes of the Mexican Governm'^nt maturing in 19().'> and 1906, about $7,500,000 to pay flf outstanding Vera Cruz Pacific & Oaxama Railway subsidy hoads, leaving about $11,500,000 for various public improvements The bonds are in denomination of |l,0fl0, both principal and interest payable in gold coin of the United States of America in New York, also payable in ponnds sterling, reichs( & marks and francs. A sinking fund provides for the gradual retirement of tne in fifty years, and durini? the first five years of its operation the bonds retired are to be drawn at par and interest. bonds After that time a certain , proportion must be purotiased annually in the open market, if obtainable at or below par and interest; if bonds are not obtainable at par and interest, they must be drawn for tbe sinking fund at par and interest. The bonds are beiig ofif-sred at 93^^ and interest, and wa are ad vised that more than half the issue has been sold. North Carolina— South Diki>i a,— Re-hearing ^.Denied.— The United States Supreme Coart on O -.cober 17 denied the motion of counsel for the State of North (Jarolina for a rehearing In the suit brought by the S'ate of South Dt^ota to recover on bonds and coupons issued by North Caro'iQa and secured by 100 shares of the srook of the North Caroliia Railroad Co. See V. 78, p. 594, for decision of the U S. Supreme Court in favor of the State of South Dakota. Bonds AutJiorized.— The City Council on September 19 passed an ordinance providing for the ifeuanr-e of $3,150 5% Conger Avenue sewer assessment bonds. Denomination, Maturity, one bond yearly on N.-vember 1 from 1905 §450. Interest, semi-annual. to 1911, Inclusive. Bond Offering. — ProposHls will be received until 13 M., November 11, by W. A. Durand, City Auditor, for $58,050 5^ street- improverapnt bonds, as follows: 144,700 6% bonds, dated Nov, 11, IPOl. Maturity yearly on Not. 11 as follows): tS.UOo in 1U05, $U,4uU In 19.6, |9,V0U In 1U07, »c,2J0 in lb08 and tU,20U m 1909. 8,950 5* bonds, dated Nov. 1, lf04. Maturity yearly on Nov. 1 as follows $ 1,250 iQ 190i>and t4d0 each year from I9u« tu 1911, inclusive, 9,400 5* bonds, dated Oct. 1. I9i'4. Maturity. 11.400 Oct. 1, 1906, and $2,000 yearly on Oct. 1 Irom 19u8 to l«i09, iDClosive. : Interest semi-annually at the National Park Bank, New City. Certified check for 5^ of the bonds bid for, drawn on a national bank in favor of the Treasurer of the city of Akron, required. Albion (N. ¥.) School District No. 1.— Bond Election,An election on the issuance of $42,500 high-school building bonds will be held on November 11. The proposition has already been voted upon twice and defeated in each instance. Areola, Assa. Debenture U/fertng.— Proposals will be received until December 1 by Jss. J. Murison, Town Secretary-Treasurer, for $12,000 debentures, maturing part yearly Proposals are to ntate rate of interest at for twenty years. which the bidder will take the securities. Argyle(Minn,) Sthool District No. B. -Bonds Not Sold.— are informed thut the sale of $7,600 5% bonds to C. C. Gowran Co. of Grand Forks was never consummated. No securities will now be issued for ab^ ut six months, when $20,000 bonds to build a new school house will probably be York We & i;ffered. Austin, Minn.— iSond SaZe.— The Royal Trust Co. of Cbioago was awarded on September 13 $6,000 4i refunding Date. Nov. 1. 1904. bonds at 98"50. Denomination, $1.0oO Maturity, Nov. 1, 1934, subject to Interest, semi-arnnal. call after Nov. 1, 1914. ATon-by-t he-Sea, N. J.— Bond Offering —Proposals will be received until October 24 by John Tn< mpson. Mayor, for 25-year bonds. Certified check for 2% of bid re$37,000 H quired. Bee County, Texas. -Bo»d« Registered.- On October 14 an 4« 5-40-year (optional) oridge-repair bonds, issue of $1,9 dated Sept. 1, 1904, was registered l-y tht" State Comptroller. Berkeley, Cal.— Bond Election Proposed.— The qa-^stion of holding an election to vote on the issuance of $5l7,000 im- provement bonds is being considered. Bishop, In*o Coonty, Cal.— Bond U^'^rinflf.- Proposals will Watterson, Chairbe received until D-cember 1 by W. man Finance Committee, for $44,000 Q% water, sewer and W drainage bond?. Boonton, N. J. ceived until Bond Ojferinflr,— Proposals will be reNovember 7, by A. Proctor Jr., Chair- 8pm, man Finance Committee, for $16 000 it street-improvement bonds. Denomination, $5u0. Date, Nov. 1, 1904. Interest Hemi-annually at tbe Boonton National Bank. Maturity, 20 years, subj-^jt to call not exceeding $4,000 yearly. Certified check for 5? of bid rfqnired. Bristol CoDDty (P. 0. Tannton), Mass.— Bond .<^a2e.—0a Oc ober 20 the $4ii,()00 4$ building notes depcribed in V. 79, Co. of Boston at p 14i)0, were awarded to Blodget, Merriit 101-083. Following are the bids & : THE CHRONICLK 0CT. 22, 1904.] 100-91 ni/i^oat Mprrttt A Ca Boston.. 101038 Blake Bros. & Co., Boston W.J. Hayes* Sons. Boston.... 100 30 ."lOlOl Adamf&cSrBofto^;. Cairo, Ga.— Bond EieettoH JNot Yet Ordered— The report held Oct. 20 in some of tbe papers that an election would be to vote on the Issaance of water-works and electrio-light bonds is not correct. The election has not yet been ordered, bat will be at an early date. „ ,^ , ^ ,, ,. ^ Canon, Ga.— «o»<* 0/ering.— Farther details are at hand of oonpoa 18 $5,000 Novemtier 5% on relative to the offerlag Proposals for these bmda will be reschool-baildinar bonds. ceived until 6 P M on that day by Dr. A.. N. B 3 (vers, Mayor Denomination, $100. Di'e. D^c. 1, 1904. Interest annually Maturity, |1,000 at the local bank in New York exchange on December 1 of each of the years 1909. 1914, 1919, 1924 and Certified check for 2}4% of bid, payable to the above1939. named Mayor, required. Tne town has no indebtedness at present. AssessecJ valuation in 1903 $6!i,000. C&Trolltoa, Msfi.- Bonds Not Yet 8old.— No sale has yet been made of tbe $10 000 5% coupon water-works bonds offered without success on September 13. Proposals for these bonds will be entertained at any time by the Mayor. See V. 79, p. 798, for description of securities. Cedar Falls. I«»wa —Bond OJ%ringf.— Proposals will be re November 1, by H. W. Johnson, City ceived until Denomination, Treasurer, for $4,600 5% cemetery bonds. Maturity, one bond yearly, beginning five years after $500. I . I . i. 8pm, date. Cejlon, Minn.— Bond Sate.— On October 13 the $3 900 6^ 10 year water-works bonds, dated Nov. 1, 1904, were awardbid of $3,904 wi.8 received ed to W. D. Lovell at par. from C. H. Coffin of Chicago. See V. 79, p. 1392, for description of bonds. Cheviot, Ohio.- Bond O^eringr.— Proposals will be received until 12 m, November 14, by Charles Craig, Village Clerk, for the toUowing bonds A 93,650 69 25- year Harrison Avenae sidewalk bonds. Denomination, $600, except one bond for It550. Avenue Improvement bonds. Denomination, C600, 9,000 5X •ib-yenT Harris. 2,000 fi$ 25-year Cruokshank Road sidewalk bonds. Denomination, f 500. 700 5% 25-year Soutb Street sldeiralk bonds. Denomination. $700. m The above bonds are to meet the cost ot the village's proportion of the cost of the improvements. All issues are dated Nov. 1, 1904. Interest, semi-annual. Accrued interest to paid by purchaser. Certified check for $50, payable to the Village Treasurer, required with bids for each issue. Clay Coantj (P.O. Bruzli), Ind.— Bond Sale— Oa Oct. 3 the $23,381 14 %i Wm. H. Qairl et al. ditch bonds were awarded to tbe Brazil Tiust Co. at par. Denomination, forty bonds of $500 each, nine of $338 11 each and one for $388 15. Date, Oct 5, 1904, Interest, May 15 and Nov. 15. Maturity, one-twnth yearly, beginning Nov. 15. 1906. Coldvfater, Mercer Coanty, Ohio.— Bowd O/feringr. — Proposals will be received nntii 12 M. to-day (October 22), by H. D. Carmack, Villag-^ Clerk, for $1,500 5$ sewer bonds. Denomination, $')00. Date, Oct. 1, 1904. Interest, semi-annual. Maturity, one bond in ten, one in eleven and one in twelve years. Certified check for 10$ of bonds bid for, payable to the Vlllagti Treasurer, required. Coliin8Tllle(rex.) ladependent School District.- Bonds Regititered.—An issue of $1,500 4| 5 40-year (optional) schoolhouse bonds, dated S'-pr. 28, 1904, was registered by the State Comptroller on October 13 Colambas, Ohio.— Bonds Authorized —On October 10 ordinances Were passed providing for the issuance of the follow lowing bonds : Ordinance No. 22.032— $1,^00 iii% Fourth Street improvement bonds, maturlUK Sept, 1. IM07, DeaomlaUlon, «i,0iJO. i^i Hi«h Street improvemeot bonds, matur- subject to call after *ept. Ordirnuce No. -/a. :i Sept. I. 1W7, nubjeClto >— $ltl,00'i ln)r call after Sept. >. 19)6. 1. IH08. Ordinance No. 2a. "3 •— tl,60) 4V6% Looif Street improvement bonds, maturlPK Sept I, l»/7, suoject tocali after Seut. i,19)t5. DenomlnatlOQ. tauO. Ordinine No. 2i.0.S7-$n.iJo0 i% Second Avenue bonds, maturing Sept. 1, 191B, subject to call after Sept. 1, i»o3. Ordinance No. •.;i(,C'3«—Ji,5a 4* Micbiean Avenue improvement bonds, maturlne Sept. 1. 1915. subject to call aa^r'Sept. 1, iao5. Oraliiance xo. 2 .040 $:i,oi o 4% Br?den Alley bonds, maturini? Sept. 1, 1B15, subject to cnll after Sept 1, 19ii5. Deoommatlon, |5ui). Ordiuuuce No. i-d.m -|2, On i% Benton Stri*et bonds, maturing Sept. 1, 1916. subject to call after Sept. I, 1905. Den.imlnatlon, I.SOO. Ordinance Mo 2ain7—»l,)0i) *^$Mt. Vernon Avenue bonds, maturing Sept. 1, 1907, subject to call after Sept. »,|i9i)6. Deuomcnaiion, »5oo. I i All the above is-ues are to be dared n 1905. Intertsl, March 1 jt and September 1 later than Jan. 1, at the office of the City Treafurer. Counersvilie, lod.— Bonds Authorized,— The City Council has auinoilzid the issuance of $13,230 80 street- improvement bonds according lo reports. — Cro8Well,M eh. tfond dale.— Oa October 3 an issue of |9,0U0 A]4% rntuudlog water-works bonds was awarded to Noble, M.^s-A Co., 01 Ddtrolt. Denomin-ition, $1 OOD Date, Oct. 15, 1904. Interest, semi-annual. Maturity, Oct. 15, " 1914. We DanTllle, Pa.— Bond Sale.— are advised that the Borough Council has up to date authorized tbe issaance of but $10,000 of th« $50,000 bonds vot«d at tbe election hyld some weeks ago and th^t ibn $10,0 lO so authorized hns nearly all been tak. n r.y local investors. Date, Nov. 1. 1904. Interest, M-itunty, 20 y^-ars. 8J^«. J)aTiHon Couiiij (P. 0. Mitchell), 8. Dik.—Boad ya/c— On October II ih- $<J8,000 4i^« 10-20-ye>ir (optional) coupon refunding bonds dt-ecnbid in V. 79, p 1490, were awarded to John Nuveen & Co. ot Cblcngofor $28 62J and inlerf-st. DawHon (M nu.) Indept-udeot School District.— flond Sa/e. -Thlf* dlBtnci has koU an issue ot $30,000 5| achoolhonse bonds to D M. Stoddard & Co. of Minneapolis at 1(I3. Denomination, $1,0 H). Date, Ucf. 1, 1904, Interest, Jannary and Joly. Maturity, $2,(i00 yearly ..n October 1 from 1914 lo 1918, inclusive, — — . and |30,000 Oct. 1, 1919. 1729 — Delaware, Ohio. Bond Offering, Proposals will be received until 12 M., November 14, by F. D King, City Auditor, for $5,lu0 5« West William Street assessment bonds. Interest semiDenomination, $170. Date, Sept. 1, 1904. annually at offije of Sinking Fund Trustees. Maturity, one bond each six months from March 1, 1905, to Sspt. 1, 1919, inclusive. De Pere, Wis.— Bond SaJe.— Only $3,000 of the $27,800 ^^i coupon water works bonds offered on Oct. 15 were awarded and the remaining $24 300 bonds are re- advertised as below. Tbe purctiaser of tbe $3,000 paid lOO'lO for the same. Bond Offering.— PropoasilB will be received until 4 P. M, to- day (Oct. 32) by M. J. Maes, City Clerk, for $24,300 4* coupon water- works bonds— the unsold portion of the $27,800 S^i bonds offered on Oct. 15, the rate of interest having meanwhile been raised to ii. Proceeds of the sale of these bocds will be used in purchasing the plants, etc., of the Artesian Water Supply Co, of De Pere and the West De Pere Artesian Water Supply Co. Danomination, $500, except one bond for $3 lO. Interest annually on Feb. 1 in Dd Pere. Mayearly on Feb. 1 from 1910 to 1913, irclusive; turity, $2,0' $1,500 yearly from 1913 to 1918, inclusive; $2,000 yearly from 1919 to 1922, inclusive, and $1,800 Feb. 1, 1928. Certified check for $100 required. Dover Township, Cayahoga Township, Ohio.— Bond Sale, — Oj October 8 the $2,500 5i road-improvement bonds described in V. 79, p. 1354, were awarded to the Rocky River Savings & Banking Co. of Rocky River at 101 and interest. Follnwin? are th« bids: Par Rocky River Sav. & Bank Co.t2.625 00 S. A. Kean, Chicago 1 Boiigersdc Sous, Cbag. Falls.. 2,517 00 Downe) High Schtol I Los Angeles Coanty, Cal. election held September 27 to vote on the question of issuing $20,000 5i 1 20 year (serial) highschool-building bonds resulted in the defeat of tbe proposition by two votes. The question will again be submitted to the people. Eagle Grove, Iowa.— Bond Sale.—Oa October 17 the $10,000 4% water-works bonds described in V. 79, p, 1660, were Co. of Davenport at par less awarded to G-co. M. Bechtel $125 for blank bonds and attorney's fees. The bids follow : Geo. M. Bechtel & Co., Davenport, par less $125 for blank bonds and attor- —Bonala Defeated. Dii^trict, — Tbe & ney's fees. Denison, Prior & N.'w. Halseyft Co., Cleveland, par less $145 for blank Co., Chicago, par less $160 for bonds and attorney's blank bonds and attorney's kitzmanris, par less a commission. Other bids were received for i^% bonds but not considered. J. East Liverpool, Ohio.— ttond Election.— Oa November 8 the question of issuing $150,000 i}4^ water and filtration bonds will be submitted to vote, E^st St. Loais (III.) Union School District, No. 10.— Savings Bank of East St. Bond Sale.— The Union Trust Louis was the successful bidder on October 3 for the $125,900 5^ 20-year school building bonds, offering a premium of $19,114 for tbe same. Edna, Texas.— tfond* Registered.—The State Comptroller on October 10 registered an issue of $12,500 5^ 5 20-year (optional) school house bonds, dated April 15, 1904. Elberlon, Sa.— Bond .E/ection.— An election will beheld November 10 o vote on tbe question of issuing $20,000 i^i 20 year gold sewer bonds. Interest semi-annually on January 1 and July 1. Denomination, $500. El Paso de Kobles (P. 0. Paso Rubles), San Luis Ohispo Coauty. ral. Bond Offering.— Propos&ls will be received until 7:31 P M October 31 (postponed from October 17), by L. E, Williams, City Clerk, for $25,000 5i gold coupon bathhouse bonds. Ddnooilnation, $1,000, Interest, semi-annually at the office of tbe City Treasurer. Maturity, one bond yearly. Certified check on same bank in California for Bonds were $1 250, or else cash to that amount, required. authorized at election held July 29, 1904. The city has no & i , debt a*; present. Eissex Coanty (P. 0. Salem), Mass.—Bond O^er ing.— Proposals will be received until 10 a, M , October 24, by the County Commissioners of Essex County, for the following loans : $60,000 notes Issned under Chapter 314. Laws of 1001, and Chapter 74, Laws of 1902. Date, Nov. 10, 1»04. Interest, nnnual. Maturity, $5 OiO yearly. 126,000 renewal notes issued under Chapter 4t;3, Laws of 1H90. Date. Nov. 10, IMi, Maturity, six months. (JenPTH, Ala.— Bouds Not &'o/d.— No sale has yet been made bonds described in V. 79, p. 1051. Georgetown, Mass.— Bond «aie.— Tbi^ town recently awarded to Estabro )k Co. of Boston an issue of $30,000 i% 1 10 year (serial) school bonds. Following are the bide of tbe $32,000 6% water & : Bstabrook k Co., Boston N. W. Harris & Co.. Boston A .m» X Co., Boston * 102*05 I Blodeet. Merritt 10f7H5 I Merrill, 101 04 I Jose, Parker I And blank bonds. A Co., Boston. 101-6S Uldhum & Co.. Boston.. 101*389 & Co., Boston.... •lOl'SH W.J. Hayes* Sons, Boston.... 100-66 Uirard (Uhlo) Srhool District.- Bond Election.— At the coming election November 8 the ques ion of issuing bonds for a school building will ple. A similar be tubmitted to a vote of the peowas submitted to a vote last May, proposiiion but failed, Ulag^fow, Ky.— Bond Election,— An election, it is stated, will be held in this place to vote on the question of issuing $20,000 bon^s to pay off present indebtedness. Hreeley, Neb. -Bond iiaie.— This city has sold an issue o: $10,000 w-iter bonds. «r..Te CItv, Pa.— Bond Sale.-On October 14 $6,000 i% funding bonds were awardei to Fuller, Parsons & Snyder of Cleveland at 102. D-'nomination, $1,000. D*te, Nov. 1, 1904. Ititerest, semi annual. Maturity, $l,0OJ vearly on Nov. irom 1909 to 1914, inclusive. —— : 1 THE CHRONICLE. 730 — . [Vol. Lxxix, Huncdck County (P. 0. Greenfield), lad.— Bond Offering. Lancaster Connty (P. U. Lancaster), S. C— Bond Offering. win be received nntU 11 a. M., October 24, by —Proposals will be received until 12 m November 7, by the Wm. G. Qarrlott, County Auditor, for $10,000 6% conpon Board of Connty Commissioners, for |75,000 4< coupon re- — Propoeala , bridge bonds. Denomination, $1,000. Date, Oct. 24, 1904. Bonds are exempt from all taxes. Bonded debt, not Inclnd- Assessed valnation 1904, $15,000,000. Hancock County, Ohio.— No Bond Election are in formed that the report in some of the papers that an election will be h*>ld on November 8 to vote on the question of issuinp: $125,001 road improvement bonds is not correab. Hanfitrd School District. KInar Goanty. Cal.— Bond Sale. Oq October 1 an issue of $7,000 school binds was awarded to the Oakland Bink of Havings for $7,553. Haskins, Ohio.— &ond8 Not Sold.— tfo sale has vet been made of the $3,000 5* street improvement bonds offered on October 3, although we are informed negotiations are now pending looking to the sale of the same. See V. 79, p. 1051, for description of bonds, \ne this issue, $242,000. —We — H Hayivards School District, Alameda County, Cal.— Bonds Fofed.— This district on 03tober 10, by a vote of 122 to 9, authorized the issuance of bonds to complete the new school building. We Hebron, Wis.— iVo Bonds to be Issued.— are informed that the report that this town was to issue $6,000 bonds for a water system is not correct. Hemet School District, Biverside County, Cal.— Bond Sale.— Oa October 5 $2,600 bonds of this district were awarded to Mrs, E Young of Hemet at 108. Denomination, Date, Sept. 7, 1904. Interest, annual. Maturity, 10 1500. years. H Hollidaysbnrg, Pa.—Bond Sale.— On October 14 an issue of $6,000 S^i city-building bonds was awarded to John Or. Shape for |8,0a7— 100118. Denominations, $500 and $1,000. funding railroad-aid bonds. Denomloation, |l,000. Date, Feb. 1, 1905. Interest, annual. Maturity, $25,000 In 20 years, |2.'5 000 in 30 years and $25,000 in 40 years after date of Usae. Certified check for $1,000 required. Toe above bonds represent the only debt of the connty. Assessed valuation, |2,750,000. L, J. Perry, County Supervisor. Lawrence," Mass.— Sonet 0^«ri7ig.— Proposals will ba received until 12 M October 28, by Diniel F. Murray, City Treasurer, for $200,000 A% coupon city debt bonds. DanomlnatloD, tl,000. Date, Nov. 1, 1004. Interest semi-annually at the Ediot National Bank of Boston. Maturity, |20,00J yearly on Nov. 1 from 1905 to 1914, Inclusive. Lawrencebarg, Tenn. Bonds Not Yet Authorized. No action has yet been taken looking to the issaance of water bonds, mention of which was made in V. 7i), p. 1355. Lebauon, Pa.— Bond Election.— Oa November 8 the question of issuing |165,030 bonds to construct an additional pipe line from the city to the sapply dams will be submitted to a vote of the people. Interest not to exceed 3}^<. Ligonier, Noble County, Ind.— Bond Sale.— O a Oa^oher 18 the |17,000 i^i funding water bonds described in V. 79, p. 1298, were awarded to Rudolph Kleybolte Co. of Cincinnati at 105-106 and interest. Following are the bids , — & : i Co., Clncln. .$17,869 00 B. D. Bash & Co., indian'lls.. •17,960 00 W. K.Todd & Co. .Clncln.... 17,806 00 E.M. Campbell 4 Co., Ind'lls. 17.fc01 6U Seasomiood & Mayer. Cincin. 17,78^ 50 Weil. Koth & Co., Cincinnati. 17.725 60 Union Sav. B'k A Tr. Co ,»-;in. 17,726 On Meyer & Kiser. Indianapolis. 17.710 00 W.J. Hayes & Sons. Cleve.. 17,65'> Ou 17.628 90 J. F. wild & Co.. Ind'apolls. R. Klevbolte . . I I | I | , : 3.800 00 6% Detroit Street sidewalk bonds. matnrlnK «T00 rearlr on April 1 from 1905 to 1908, Inclusive. 6,619 27 6% Larchraont Avenue water-matc-lmprovetnent bondi. maturlne leiM^? Oct. 1,1905; «600 yearly on Oct. 1 f rom 1906 to 1918, Inclusive. and $1,000 Oct. 1. 1914. 5,155 07 6$ Marlowe Street sewer bonds, maturing 1156 07 Oft. 1, 1805, and |l.0>0 1n llioe and $r>00 yearly from 19i)7 to 1914, Inclusive. 6,467 10 6% Cordova Avenue water main-Improvement bonds, maturing $167 10 Oct. I, 19)6; $500 yearly on Oct, 1 from 1908 to 1918, Inclusive, and $1.0 Oct. 1,1914. 8,6U76 6% Roycrott Ave. water-maln-lmprovemenl bonds, maturing Oct. 1814 76 1. 1905; $300 yearly on Oct. 1 from 190b to 1912, Inclusive, and on Oct. 1 of the years 1913 and 1«14. 4,871 36 6* Winton Avenue watermaln-lraprovement bonds, matnrlni; tS"! 38 Oct. 1. 1906, and $50 yearly on Oct. 1 from 1906 to 1914, Inclusive. 4,420 43 t% Marlowe Street water-main improvement bonds, maturiDX $120 43 Oct. I, 1906; $4('o yearly on Oci. 1 from 1908 to Iwis, inclusive, and $saoon Oct. 1, 1914. 4.185 C9 5t Edward Street water-main-Improvement bonds, maturing $^85 09 Oct, 1, 1905, and $J0o yearly on Oct. I from 1906 to lbl4. Inclusive. Bonds will be dated day of sale. Interest semi-annuHlly on April 1 and October 1. Certified check on a Lakewood or Cleveland bank for 10^ of bonds bid for, payable to the Village Treasurer, rrquired with bids for each issue, and the pnrcshaser must pay accrued interest. Separate bids to be made for each issue. $flnii ) | * Co., Cblcafro, $17.560 Larson, beacd * Co.. Chle 17.515 Third Nat. Bank, Clnclonatl 17,500 MacDonald, McCoy*Co..Ctil, 17,811 N. W. Harris A Co., Cbicago. 17,258 A. Kleybnlte * Co., Cincin... 17,256 Trowbridge ft NIver Co.. Chi., 17.256 Fuller, Parsons Snyder, , . Date, Oct. 1, 1904. Interest, eeml-annual. Maturity, 20 years, subject to call after 10 years. Holly Beach (N. J.) School District.— Bond Offering.— The Board of Education has authorized the Ismanceof $7,000 5% 3-16-year (serial) school-improvement bonds. Proposals for these bonds will be received until Oct. 25 by E. Yenney, District Clerk. Holly Springs, Miss— Bond Election Proposed.—The Town Council Is considering the advisability of calling an election to vote on the question of issuing bonds for a sewerage system. Indiana, Pa.— Bond ^/eciion.—This borough on Nov. 8 will vote on the question of issuing $40,000 street-improvement bonds. If the bonds are authorized they will not be issued atones, but "ooly when property owners on a street indicate their willingness to pay two-thirds of the cost of paving." Jackson County, Texas.- Bond Election Proposed,— Petitlons are being circulated requesting that an election be held to vote on the question of issuing $50,000 court-house bonds. Kalamaz lO, Mich.— Bond Sa*e.- Oa Oct. 17 $2,975 4% Henrietta Street paving bonds were awarded to J. J. Knight of Kalamazoo at par and interest. Denomination, $425. Date, Nov. 1, 1904. Interest, semi-annual. Maturity, from one to seven years after date. Kel^ey, St. Louis County, Minn.— Bonds Not Yet Sold.— No sale has yet been made of the $2,000 road bonds offered without success on September 7. See V. 79, p. 749, for description of bonds. Kent, Portage Connty, Ohio.— Bond O^eringr.— Proposals will be received until 12 m.. November 7, by Fred. Baohtle, Village Clerk, for $3,000 6% Main Street improvement bonds. Dsnomination, $300. Date, November 1, 1904. Interest, annual. Maturity, ore bind yearly. Accrued interest to be paid by purchaser. Cdrtified check for $200 required. Purchaser furnishes bond blanks free of charge. Kill Hnck School District. Cattarangas County, N. Y.— Bond Sale.— On October 10 ar issue or }3,000 5^ 6-year school bonds was awarded to the First National Bank of Barnesvllle for $8,029, Denomination, $500. Date, Oct. 15, 1904. Interest annually. Klickitat Connty (Wash.) School District No. 28.— Bond Safe.-Oo O.^tober 8 the$2,000 Q% school-house bonds were awarded to Roberts Bros, of Spokane at 10035. Dsnomination, $500. Date, Nov. 1, 1904. Interest, annual. Maturity, $500 on Nov. 1 of the years 1913, 1915, 1917, 1919. Lakewood, Ohio.— Bond OJ^crmg.— Proposals will be received until 12 M November 12, by Henrv J. Sensel, ViUage Clerk, for the following bonds John Nnveen & A Cleveland Albert C. Case, New 00 00 00 00 00 75 CO 17.86S00 York.... 17.250 00 Chas. H. Coffin. Chlcajfo 17.15100 Accrued interest not allowed. Lockland, Ohio.— A'b Action on Bond Issue.— The Village Council has ae yet taken no action in the matter of issuing the $13,000 street-repair bonds mentioned in V. 79, p. 927. London, Ohio.— Bond Offering. Proposals will be received — until 12 M., November 11, by J. W. Byers, Village Clerk, Denomination, $500. Date, day for $3,000 ^% bridge bonds. Maturity. $500 on January 1 of sale. Interest, semi-annual. of each of the years 1907, 1909, 1911 and 1913. Certified check on a London (Ohio) bank for 5^ of the amount of bonds bid for, payable to ihe Village Clerk, required. Long Branch, N. J. Bond Election. It is stated that the City Council has decided to submit to the voters at the election next month the question of issuing $400,003 ocean-front- — improvement, convention-hall and park bonds. Manistee County, Mich. Bo .id Election.— On November 8 the question of issuing $80,000 1-10-year (serial) bridge bonds will be submitted to a vote of the people. Marion, Ohio. —Bond Ofermg.— Proposals will be received until 12 M November 1, by S. T. Qaigley, City Auditor, for — , $11,000 41^* street-paving (city's proportion) bonds. DenomDate, Nov. 1, 1904. Interest, semi-aaaual. ination, $550. Maturity, $550 each six months from March 1, 1905, to Sept. 1, Certified check for 5^ of the amount of 1914, inclusive. bonds required. Minnesota.— Loans, According to the St. Paul "Pioneer Press," the State Investment Board on October 12 granted Ransom, Nobles the following applications for loans County, $1,000 for construction of roads; Lilly Dile, $500 for construction of roads; Independent School District No. 1, Becker County, $4,000 for refundment of bonds; Independent School District No. 29, Pine Connty, $1,200 for erection of school house. Moran, Allen County, Kan.— Bonds Fo/ed.— By a vote of 105 to 18 this city on October 11 authorized the Issuance of $5,000 gas-plant bonds at not exceeding ^% interest and to mature in not more than twenty years. Date of sale not yet — : determined. Mount Pleasant (Town) School District No. 9, Westchester Co., N. Y.—Bond Award.— We are advised tnat the $10,100 4^ school bonds, bids for which were opened on Sept. 27, were awarded to the Mount Pleasant Bank for $10,126. The local bank was the lowest bidder at the sale but received the award, we are informed, for the reason that the difference between their bid and that of the highest bidders Geo. M. Hahn of New York— was so small that it was thought advisable to sell the bonds to the home institution. Muscatine (Iowa) School District.— Bond SuZc— We are informed that an issue of $44,000 43^2 refunding school bonds has been sold to the First Trust & tiavlngs Bank of Chicago Denomination, $1,000. Date, Oct. 1, 1934. Interest, at par. semi-annual. Maturity, Ojt. 1, 1914, subject to call after Oit. 1, 1909. Newbargh, N.T.— Bond Sa^e.- On October 17 the $12,000 i% 1-10 year (serial) registered fire-department bonds described in V. 79, p. 1662, were awarded to Isaac W. SherrlU FoUowiag are the of Poughkeepsie at 101*27 and interest. bids 101-12& Albert C. Case. New York. I. W. ShetTlll, Pou(fhkeepsle....l01*27 101"25 Newbur^h Savings Bank New Castle, Neb.— Bond Bid.— The only bid received October 12 for the $8,600 ^% 10-20-year (optional) water-worksbonds described In V. 79, p. 1358, was one of par from S. A, Kean of Chicago. This bid has not as yet been accepted. Newoan, Coweta County, Ga.— Bond Blection,—Kn elec- tion will be held October 29 to vote on the question of issuelectric-light-plant bonds. D^te, Jan. 1, 1906. ing $20,000 Maturity on Jan, 1 as follows: $2,000 Interest, semiannual. H : — : THE CHRONICLE. Oct. 22, 1904.] in 1921 and also in 1925, $1,000 in 1927, $3,000 yearly from 1929 to 1984, inclusive, and |3,000 in 1935. Newport, Ky. -Bond Sale.-Oa Oit. 15 this city sold $9,500 Qi sewer bonds to the Newport National Bink for $10,101 50 and interest. Dinomination, $500, Date, July 1, 1904. Interest, semi-annual. Maturity, from 4 to 13 years Norfolk County, Mass.-Bjnd Sale.— Oa October 18 the Co. of $20,000 4^ loan was awarded to H. C. Wainwright Boston at 106'26 and interest. Foilowin? are the bids : 10=i"07 Jackson & Curtlg, Boston ^ S. C. Wainwright & Co.. Bo8t..l06-2« Merrill. Oldham &Co., BoBton.105'019 105-:i3 Blake Bros. * <J0.. Boston. & R.L.D»y& Co., K. U. Rollins Boston & Sons, Boston... l(i4-6 6 104 "52 105-17 Parkinson & liurr, Boston CCBoston..\^^'\'^J Interest, 1904. semi-anof Laws 297, Chapter Authority, nual. Maturity, .July 1, 1916. Blodget, MerrlttdS Norwood, St. Lawrence Coucty, N. Y.—Bond Sale.— This village recently sold $2,000 sidewalk construction bonds. These bonds are part of an issue of $5,000, of which only the $2,000 now placed will b9 put out this year. Omaha, Neb.— Bond Election.— At the coming election November 8 propositions to issue SSOl.OOO electric- streetlighting-plant, §100,000 sewer and $60,000 fire-engine-house bonds will be submitted to a vote of the people. Orange, Texas.— Bonds Fo<ed.— This city on Ojt. 11 authorized $5,000 5% 40 year city-hall bonds by a vote of 40 to 7. We are Informed Osceola, ^eh.— Description of Bonds.— that the $25,000 water-works bonds voted at the election held September 3 will be issued in denomination of $500, dated Jan. 2, 1905. Interest 6i, payable annually in New York The City. Maturity, Jan. 2, 1935, optional after five years. village has no debt at present. Aesessed valuation 1904, $161,854. Date of sale not determined. Otsego, Mich.— Bonds iVbi Soid.— The Village Treasurer writes us that the report in some of the papers that this village has sold an issue of $3,500 5% water-works bonds to Co. of Detroit is not correct. Noble, Moss Oxford, Miss.- Bonds Not Sold.-lhe $8,000 5% electriclight bonds offered on October 4 have not yet been sold. Proposals for these bonds will be received at any time by R. 8. & Adams, Mayor. Oxford County (P. ing. 0. Woodstock), Oa%.— Debenture Offerwill be received until 18 m., November 15, White, County Clerk, for $35,000 4^ debentures part yearly for twenty years, — Proposals by James maturing PainesvUle, Ohio.— Bond Saie.- Following are the bids received October 10 for $20,000 paving bonds Beasongood & Mayer, Cincln.$20,883 20 Hayden, Miller & Co., Cleve. .120,670 00 W. J. Hayes & Sons, Cleve... 80,882 00 Fuller, Parsons & Snyder, : I I Denlson, Prior & Co., Cleve20,816 75 land and Boston : Cleveland 20,500 00 Dollar Sav. Bank, Painesv'e. 20,423 00 P. 8. BrlKKS & Co.. Clncin.. 20.410 00 PainesvUle Nat. Bank 20,189 60 I ! LamprechtBros. &Co., Clev. S0.8i>S 00 Union Sav. Bk. & Tr. Cc.Cln.. 2O,'60 00 New IBI Nat. B'k.ColnmDus. 20,705 00 Pasadena School District, Los Angeles County, Cal.— Bond Opertngf.— Proposals will be received until 3 p, m , October 24, by the Board of Supervisors— C. G. Keyes, Clerk for the $65,000 i'^% bonds voted at the election held Sept, Denomination, $5,0C0. Date, Oct. 24, 1904. Inter22, 1904. Maturity, $5,000 yearly on October 24 from est, annual. 1906 to 1918, inclusive. Certified check for 3« of the amount of bonds, payable to the Chairman of the Board of Supervisors, required. Plttsbnrch (Pa.), Lincoln Sub-School District.— Bond Offering. -Proposals will be received until 8 p. M., November 11, by George B. Roessing, Secretary, No. 622 Lincoln Avenue, tor $50,030 4^ coupon bonds, free from tax. Denomination, $1,000. Date, Dec. 1, 1904. Maturity, $5,000 yearly on Ddc. 1 from 1918 to 1927, inclusive. Certified check for 1% of the par value of the bonds bid for, payable to Lincoln Sub-Sahool District, required. . . . — . 1731 bank for $1,000 required with bids. Accrued interest to be paid by purchaser. Successful bidder must furnish blank bonds. —We Karenna, Ohio. Bonds Not Yet Ready for Issuance. are informed that no action has yet be^^n taken in the matter of issuing the $40,000 trunk-sewer bonds voted at the election held June 18, 1904. Betiding (Pa.) School Di8trict.—i2epor?ed -SaZe o/" Bonds are advised that the report in some of the Incorrect.papers that this district recently sold another $75,000 of the $300,000 high-school issue is not correct. The district has issued only one block of $75,000 bonds, and the sale of this block was given In the Chronicle last January. The second These lot of $75,000 will probably be put out in December. $300,000 bonds were authorized a year ago for the building of the Boys High Scnool. They will all be dated April 1, 1904, but only issued as the work progresses. We Red Lake County, Minn.— Bond Sale.— Oa October 1 this county awarded to the First State Bank of Red Lake Falls, acting for U. M. Stoddard & Co. of Minneapolis, an issue of Denomination prob$6,000 5}4i drainage bonds at 101 "75. ably $1,000. Date, Jan. 1, 1905. Interest, semiannual. Maturity, Jan. 1, 1915. Bidge wood Township School District, Bergen County, ' N. 3.—Bond Sale.~Oa October 17 the $60,000 i% coupon school bonds described in V. 79, p. 1492, were awarded to the First National Bank of Ridgewood at 100'50 and interest. Ridley Park, Pa.— Bond Sale. This borough has awardei to Dick & Robinson of New York City $8,000 4^ 80- year — bonds at 101-05. Boxton Independent School District, Texas.— Bond Sale. —On October 4 the $10,000 5% 10-40-year (optional) bonds offered but not sold on September 1 were awarded to J. B. Oldham of D iUas at par and accrued interest. See V. 79, p. 801, for description of bonds. Bush (Texas) School District.-Bonds Not Yet Sold.— No sale has yet been made of the $14,000 5% 5-40-year (optional) school-building bonds offered but not sold on August 1. Proposals for these bonds may be addressed at any time to L. W. Tittle, District Secretary. See V. 79, p. 523, for description of securities. Sacramento, Cal.— Bond O^eringr.— Proposals will be received until 8 P. M., December 12, by C. M. Prodger, City Treasurer, for $200,000 i% coupon high-school bonds. Denomination, $1,000. Date, Jan. 1, 1905. Interest payable at the office of the City Treasurer. Maturity, $5,000 yearly on January 1 from 1906 to 1945, inclusive. Bonds will be certified to as to genuineness by the United States Mortgage Trust Co., New York City. Certified check for 2% of the bonds bid for, payable to the Treasurer of the city of Sacramento, required. St. Paul, Minn.— Bond Sale.— Oa October 19 the $100,000 i% coupon school bonds described in V. 79, p. 1857, were awarded to N. W. Halsey & Co. of Chicago at 111 '058. Following are the bids N. W. Halsey A Co., Chic... 1111,053 00 Kountze Bros., New York.. .$109,062 00 111,<'30 00 oenison. Prior & Co., CleveB Seymour* Co., N. y 108,612 75 110.700 00 landand Boston W. B. Todd & Co., N. Y U. Lee Anstey, New York. 110,630 00 Seasoniiood & Mayer, Cln... 108,566 00 Domlnlck* Domlniok, N. Y. 110.680 00 B. H. Rollins & Sons, Chic, Blodget, Merrltt & Co.. Bos. 110,570 00 & G. A. Kernald & CcBos. Ice.lfiO 00 R. L. Day & Co., New York. 110.310 00 W.J. Hayes &, Sons. Cleve.. 105.964 00 Minn. L'n & Tr.Co.,Mlnn'lis. 1 10,800 00 TrowbrldKe 4 NlverCo..Chl. 103,126 00 109,781 00 First Nat. Bank, Shakopee. 10,600 00 N. W. Harris & Co., Chic, & I . I . . . Bstabrook & Co., Boston. . . . . 109,ai6 00 Sandy Hill, Washington County, N. Y.—Bond Sale.— The following bids were received on Oct. 17 for the two issues of paving bonds, aggregating $36,774, described in V. 79, p. 1668: Premium. N. W. Harris & Co., for 3-88 Geo, M. Hahn, for 18 $108 OJ 746 61 Premium. I I W.J. Hayes & Sods, for 48 Rhoades & Richmond, for $723 00 4s... 105 00 Plqua, Ohio.— Bond O^eringr.— Proposals will be received until 12 M November 10, by Bart A. Reed, City Auditor, for $6,000 5% coupon street-assessment bonds. Denomination, Date, Oct. 1, 1904. Interest semi-annually at the Im$600. porters' Traders' National Bank, New York City. Maturity, $500 yearly on Oct. 1 from 1906 to 1915, inclusive. Certified check on a national bank for 5^ of the amount of bonds bid for, payable to the Treasurer of the city of Piqua, required. Plymouth, Mass.— Bond Sale.— Thia town has sold to Jose, Parker Co, of Boston an issue of $8,000 d^i macadamizing bonds at par. Securities are dated Oct. 1, 1904. Interest, semi-annual. Maturity, $800 yearly for ten years. Santa Ana, Cal.— Bond Blection.-lhe City Council has voted to call a special election to vote on the question of issuing $100,000 water-extension bonds. Seattle, Wash.- Bond Election.— The City Council has postponed the election to vote on the issuance of $500,000 ing are the bids Continental Mfe Ins. Co and accrued , & and $175,000 jail bonds from December 6. Ordinances have been prepared and are ready for the city-hall, $150,000 city- hall site November 8, as at first proposed, to to that effect Mayor's signature. — »ebewaing(Micb.) School District No. I.— Bond Sale. The $20,000 4.}^% 1-10-year (serial) coupon scnool-building & bonds described in V. 79, p. 929, were sold on October 17 to Frank W. Hubbard of Bad Axe at 100 375. Sebring Special School District, Mahoning County, Ohio. Portage La Prairie School District No. 10, man— Debenture Sale.— On September 30 the $20,000 5% 20-year debentures — Bond Sate. — We have just been informed that the $3,000 5% described in V. 79, p. 1294, were awarded to the Continental bonds (two issues) of this district offered on September 2 Life ItjBurance Co. of Toronto at par and interest. Follow- were awarded to the Citizens' Banking Co. of Sebring at par 120,000 National Trust Co., WInnipcK.. 20,065 1 I W. W. Winnipeg Brent, Toronto T. KIrby, C. $20,oro 19.40rt Providence, R. 1.— Bond 6'aie,— The following bonds have betn placed at par and interest in the sinking funds of the city 88 an investmpnt ISOu.OOO K^-'^^ ^00,OuO lOO.OtO 8Hf fc'okl reglgtcred school bonds, raatnrine Nov. 1, 1934. 5iH* K Id reKlstored walor bonds, nmturlnK Nov. 1, 1W07. a^% Kold rcKl;,! ered sewer bonds. inulurinK Nov. 1, 1931. '.iVii K'M reKlBlercd bnduc bonds. lualurlnK Nov. 1, 1934. interest. — Sae V. 79, p. 752, for description of We are advised that the Skaneateles, N. T. Bond Sale.— |6,U00 A% water bonds voted at the election held September 28 have been sold at par to the Skaneateles Savings Bank. Somerset County, Pa.— Bond Q^/'ertnfli.-Pittsbnrgh papers Btate that proposals will be received until October 27 for $260,000 A% court-house bonds. Denomination, $1,000. Date, Maturity, Nov. 1, 1934. 1, 1904. Sonris, N. Dak.— Bond Q/Terinflr.— Proposals will be received until 8 p. M, October 25, by the Village Clerk, for Total debt at pres$5,000 7% 10-year fire-department bonds. ent, $4,411. Assessed valuation 1904, $102,534. Nov. Securities are dated Nov. 1, 1904. Interest. May and Nov. Putnam County (P. 0. Ottawa), Ohio.—Bond Offering Proposals will be received until 12 M., October zQ, by L juis N, Welde, County Auditor, for $33,000 coupon road bonds. Denomination, $1 000. Date, $<!l,000 Oct, 1, 1904, and $12,000 May 1, 1905, Interpst payub e at the office of the County Treasurer. Maturity, $7,000 yearly for four years and $5,000 in five years. Either cash or a certified check on an Ottawa — H bonds. South Pasadena School District, Los Angeles County, Cal.— Bonds l^o<ed.— This distritit has authorized the issuance of $6,000 school-improvement bonds by a vote of 188 to 28. — —— THE CHRONICLE. 1732 Sonth SbaroD, Pa.— Bond EUetion.— An election has been called for Novembers to vote on the qnfstlon of leaning $100 000 ilit 30 year street and sewer bondH. These are the Co. of Cinsame bonds awarded last Jnly to P. 8. Briugs cinnati and snbsf qnently re-awarded to Haydea, Miller Co. of Cleveland. The reason for the new election is that the attorney for the Cleveland firm rendered an adverse opinion as to the legality of the bonds. This opinion has been snstained by some attorneys, while still others have agreed with the contention of the Borongh's sollf^itor that the bonds were valid, among the latter being John (Jt. Johnson of Philadelphia, Becaape, however, of the diversity of views, the new election has been callnd to remove all donbta. & Starke County (P.O. Knox), lud— Bond & Sale.-On Oc- tober 13 the $14,127 60 6? drainage bonds described in V. 79, were awarded to W. J. Hayes & Sons, Cleveland, for p. 1295 $14,135, Talbert Urainnge District, Orange County, Cal.— Bor.ds Not Sold.— Litigation.— We are inlormed that the 5% gold drainage bonds voted at the election July 30 have not been sdd, for the reason that the directors of the district have deemed it best to have the courts pass upon the validity of The bonds will not, therefore, be ready for sale for some six weeks. The amount of bonds voted was $20,See 000, but it is only proposed to issue $10,000 at this time. V. 79, p. 696, for description of bonds. Thomagyllle, Wa. tend Election.— This place will vote next month on the question of issuing $25,000 sewer and $35,000 electric-light plant bonds. Tifton, Ga.—Bond Election.— An election has been called for November 15 to vote on the question of issuing $15,000 school and $80,000 water-works 5 per cent SO-yesr the issue. bonds. Topeka, Kan.— Bond Q^eringr.— Proposals will be received until 5 p. M. November 7 by J. H. Squires, City Cierk, for $55,000 (more or less) 5% sewer bonds. Denomination, $1,000 Date, Jan. 1, 1905. Interest semi-annually at the fiscal agency of the State in New York City. Certified check for $1,000, payable to the City Treasurer, required. Bond Elect on. The City Council has decided to submit to the voters on November 8 the question of issuing $15,000 — bridge bonds, NEW NEW LOANS. [Vol. lxxix. Trlnmph, Martin Connty, HILlno.— Bonds Not Sold.— Ho bids wtre received on tober 8 Oc for the three ietu'-s of 5< bonds aggregating $2, .^00, described in V. 79, p. 1054. are advised that the interest rate will now probably be raised to (a and the bonds re advertised. Tanica, MIbb.— Bo/( i OJJfcriiuj.-PrnpoB&lB will be received until November 7, by C. H. Block, Mavor, for $5,000 Qi gold coupon electric-litfht plant bonds. Denomination, 8500, Date, Nov. 7, 1904. Interest payable at the Bank of Tunica. Maturity Nov. 7, 1924, Eubject to call after 5 years. Certified check for $100, payable to the town of Tunica, C. H. Block, Mayor, required. Tarlock Irrigation District, Cal.— Bond Safe.— are informed that on October 4 and October 11 this district sold to C. F. McCarty and E, U. Cogswell, at par, $200,000 5% Improvement bonds. Denominations, $100 and $400. Interest, January and July. Maturity, 20 years and 40 years. Utica, Miss. Bonds Defeated. are informed that the election held some weeks ago on the proposition to issue $19,000 water bonds resulted against the issue, and not in favor as was at first reported. Vailsburg, N. 3.— Bond Sale.— The $10,000 4^ir 30-year sewer bonds mentioned in V. 79, p. 1663, have been sold to R. M. Grant & Co., New York City, at 107. Victoria, B. Dtbentures Not Sold. -The $12,497 20 street-improvement debentures offered on October 10 were We Ham, We — We C- « not awarded. Waco, Tex. — Bond Proposals will be received Offering. for f3C6,000 water- works and $59,000 school 5% bonds. Securities were authorized by a vote of 427 to 25 and 407 to 34, respectively, at the election held Oct. 8. Interest, semi-annual. Maturity, Nov. 1, 1934, Certified check for 5i of the par value of the bonds required. R. B. nntil 8 p. Dickey is M., Nov. 3, City Secretary. BOND CALLS. BOND CALL. LOANS. #soo,ooo HUDSOiNF COUNTY, N. PARK COUPON BONDS. J., virtue of resolutions of tne Board of Chosen Freeholders of the County of Hudson, State of New Jersey, pas.oed at the meeting held on Thursday October 6, 1904, sealed bids and proposals will be received and opened at the meeting of said Board to e held In the Court House, Jersey City, N. J., MONDAY, OCTOBEE 24, 1904. at 4 o'clock P. M., Hudson Co. Park Coupon Bonds, In accordance with an Act of the Legltlature of the State of New Jersey, entitled an "Act to establish Public Parks in certain countlesof this State and to regulate the same," approved May 6, 1902 for the sale of $800,000 (Laws of 10U2, p. 811). Said Bonds to be Coupon Bonds of the County of Hudson, of the denomination of tl,' CO each, to run for a period of flity jears, to beccme due and payable on the first day of November, 1954, to bear date November 1, 1904, with interest at four (4) per cent per annum, payable ?emi annually on the tlrst days of May and November in each year, and to be sold and accrued interest. Kach proposal mutt be enclosed in a sealed envelope endorsed "Proposals for Bonds" and to be accompanied by a CEKTIKIED CHECK enclosed therein drawn totheorder of STEPHEN M. EQAN, COUNTY COLLECTOR, on some NATIONAL for not less than par BANK or TRUST COMPANY, or cash in the sum FIVE THOUSAND DOLLARS. Bidders may bid for the whole or of any part of the iSBoe. The Board reserves the rlpht to reject any or all bids If deemed for the best Interest of the county 80 to do. By order of the Board of Chosen Freeholders. JOHN P. KGAN. Cascade County, Montana, COUPON BONDS. By Clerk. Bidders will please furnish certified checks Instead of cash If possible. MUNICIPAL hereby given that, In pursuance of the provisions of Article 3. Chapter 2. Title i. Part 4, of the Political Code of the State of Montana and of the order duly made by the Board of County Commissioners of Cascade County, State of Montana, at a meeting of said Board held on the 28th day of September, 1904, the said Board of County Commissioners will, on the 1904, at 10 o'clock A. M. of said day, at their office in the District Court House, In the City of (ireat Fulls Cascade County. Montana, under and by virtue ot the order aforesaid and authorized by the resolution du'y adopted by said Board at a regular meeting thereof held on the 28th d>^ y of September, 18c'4, at the office of said Board in the District Court House, in the Cltv of Great Falls, Cascade County, Montana, sell coupon bonds of said County of Cascade to the amount of TEN THOUSAND DOLLARS, drawing interest at the rate of four per cent per annum, payable semi-ar.nuaily on the first day of January and the tirst day of Jnly of each year, which bonds will be of the denomination of one thousand dollars each, and shall be redeemable and payable twenty years after the date of their Issue; provided, however, that said bonds shall be redeemable at he option of the obligor at any time after ten years from the date thereof. The said coupon b'nds will be made payable at any National bank designated by the purchaser thereof, and the said Ccjunly of Cascade will deliver such bonds at said bank to the order of said purchaser. The Interest on said bonds will be payaole at the office of the Treasurer of said County of Cascade. Sealed proposals for the purchase of said bonds, subject to legaliiy, will be received up to the time of sale, and the uarty or parties oflerlng the highest bid and P' ice therefor will receive the said bonds. A New York draft or check, certified by a Great Falls bank, paynble to the order of the County Treasurer of Cascade County aforesaid to the amount of f 500 00, must be deposited with the County Treasurer aforesaid by each bidder as a guaranty of good faith. The said Board of County Commissioners reserves the right to reject any or all bids Bids should be marked "Bids on Bonds" and addressed to red. L. Hill. County Clerk, Great Falls, Cascade County. .Montana. By order of the Board of County Commlsdoners, Notice Service Mexico, dated July 1889, that all or said 1. bonds which remain outstanding and unpaid are hereby called for redemption, and should, togei her with all unmatured ouprns thereunto attached, be deposited with the Chemical National Bank, in the City and State of New York, for such purpose. Interest on said bonds will cease on the 1st day of November, 1904. Both principal of said bonds and accrued interest there* n from Julv 1, 1904. to said 1st day of November, 1904. will be paid by said bank upon surrender to It of said t'onds. All unpaid coupons which matured July 1, 1904, will be paid on < presentation. This call for redemption is made pursuant to an order of the Board of County Coramiisloners of .San Miguel County, New Mexico, under. the option reserved on the face of the said bonds and in the law whereunder they were issued, and the undersigned has been dulyautbrrized to make the same. Dated at Las Vegas, t'an Miguel County, New Mexico, this 16th day of October. 1904. KUGENIO ROMERO, County Treasurer. Defaulted ard Compromieed Municipals of Kansas Specialists in srd other H. C. Cascade County, Montana. KKEl). L. HILL, County Clerk. First publication Dclober 8th. 1904. Rudolph Kleybolte&Co. BANKERS, CO., InacilTe Bonds, 27 State Street, • • Boston. EHtablliihrd 1883. H. C. Speer & Company 159 Lu Salle CITY^ St., COUNTY AMD TOWNSHIP Chicago. BONDS. ^z=^= MUNICIPAL BONDS. E. C. Stanwood & 95 DBAI.SKS IN St;»t€S. SPILLER & Specialist!^ ia !• Co.. BANKKKH. Milk Street, boston STREET RAILWAY &. SONS, BOSTON. Chicago. Notice Is hereby given to the owners of Fundlnir Bonds of the County ot San Miguel. Territory of New MUNICIPAL, RAILROAD and BONDS. DesTer. County of San Miguel, NEW MEXICO. i CorporatioD E.H.ROLLINS is MTU UAYOFNOVEMBEK, AND Public — Sale. On October 17 the $3,000 ditch bonds described in V. 79, p. 1663, were awarded to John Feioet of Hastings at par for 5 per cents. Washington County (P. 0. Salem), Ind.— Bond Offering. —Proposals will be received until 1 p. m., October 28, by Frank E. Morris, County Auditor, for $5,000 ii coupon poorasylum bondi-. Denomination, $5C0. Da^e, Oct, 15, 1904. Interest, May 15 and November 15 at the office of the County Wadena County, Minn.— Bond San Francisco. 1 BONDS. NASSAU STREET, NEW YORK. Interest Paid on Dailv anci Tirr.e Deposits. BONDS s^SBk certificates Also Handsomely ergraved; steel plate effect. the chea-.ier liind, pan It litliogranhed and partly printed from type. 100 Stoclt CcMitlcates, t.S to 125: the latter ei uraved with stecl-plaie borders — elegant. Seal Press, if with Cert itlcaies, (1 50. ALBERT B. KING & CO., 105 WilUam St., N.Y. Engravers and Lithographers. (Telephone.) 1 Oct. THE CHRONICLE 22, 1904. Treasurer. Maturity, $500 yearly on November 15 from 1906 to 1915, inclusive. Bonds are exempt from all taxes. Bonded debt at present, |13.466. Assessed valuation 1904, |7,861,955. Certified cbeck for d%, payable to the Board of Commissioners, required. , .,. „ Wellington, Ohio.— Bond 0#ertnsr.— Proposals will be reVillage Clerk, ceived until 12 M., Oct, 29, by F. A. Chapman, for the following bonds , . : t J ,000 5^ coupon East Main street improvement bonds. Denomination, J500. Denomination, |50O. 1,600 b% coupon Public Square iDDprovement bonds. Maturity. $1,000 Sept. 10. 1W08, and J500 Sept. 10, H09. bonds. Denomination. »600. Improvement Main Street 2 • 600 5% coopon West Matiirity, $500 Sept. 10, 1909; $1,000 Sept. 10, 1910. and *l,00O Sept. 10, • 1911 1 000 6% coupon South Main Street improvement bonds.i,Denomination, $500. Maturity, Sept. lu, 1907. Proposals will also bs received by the Village Clerk until 12 31., Nov. 12, for the following assessment bonds : 170S 30 5« coupon South Main Street improvement bonds. Denomination, $70 88. Maturity, one bond yearly on Sept. 10 from 1906 to 1W16, inclu326 58 558 coupon East Main Street improvement bonds. Denomination, .Maturity, one bond yearly on Sept. 10 from 1906 to 1915, inclu- $:U 66. 1.293 40 b% coupon Public Square improvement bonds. Denomination, 8129 34. Maturity, one bond yearly on Sept. 10 from 190fi to 1915, Inclusive. 4,893 23 b% coupon West Main Street improvement bonds. Denomination, $439 32. Maturity, one bond yearly on Sept. 10 from 1806 to 1915, inclusive. All the above issues are dated Sept. 10, 1904. Interest semiannually at the Home Savings Bank of Wellington. Accrued interest to be paid by purchaser. Certified check for 10^ of the amount of bonds bid for, payable to the Village Treasurer, required with bids for each issue, whioh must be made separately. West Palm Beaeh, Fla.—Bond SaZe.- On October 15 the $9,000 Q% 10-20-year (optional) street improvement bonds deCo. scribed in V. 79, p. 1664, were awarded to Kleybolte of Cincinnati at 105"055. Following are the bids : 103*50 105-055 Dade Co. State Bank Kleybolte & Co., Cincinnati & I 104'444 Mr. Franke, a local visitor White Plains, NEW YORK $50,000 3% due 1919. $200,000 3^% due 1954. Winona County, Minn.— Bond Election,— The County Commissioners have decided to submit to the voters at the coming election a proposition to issue $17,500 poor-bcuse bonds. Wintlirop, Sibley County, Minn.— Bond 0,^crtngr.— Proposals will be received until 7 p, m , Nov, 5, by C. A. Schilling, Village Recorder, for $7,000 5;^ water-works and electriclight bonds. Denomination, $1,000. Date, Feb. 1, 1905. Interest annually at the National Park Bank, New York City. Maturity, Feb. 1, 1920. Certified check for 10^ of the amount of bid required. Woodbine (Borougli), Cape May County, N. 3.— Bond Sale.—Oa October 18 the $5,000 5% school bonds described in V. 79, p. 1664, were awarded to the Vineland National Bank of Vineland. Woodward, Olcla.— Bond OjTerrngf.— Proposals will be received until October 22 by F. H. Racer, Town Treasurer, for bonds. Interest, semi-annually, at the fiscal $50,000 agency of the Territory in New York City. Maturity, 30 years, subject to call after 10 years. Certified check for $500, payable to the Town Treasurer, required. Yon b era, N. Y.— Bond Sale,— Oa October 19 $6,950 i% bridge and $6,380 4% 27- year street-paving bonds were awarded to the People's Savings Bank of Yonkers at 101'295 and 105-85, respectively. Following are the bids H 16,950 Bridge Bonds. 101-^95 People's Savings Bank. Yonkerg W.J. Haves & Sons, Cleveland Geo. M. ll^hn, New York Yonkers Savings Bank 2 Wall Street, New York. & Burr, INVESTMENT BONDS Offers & MISCELLANEOUS. Railroad, CORDAGE. Municipal and Cor- 65 Wall Street, New York. yielding investors i% to b%%. Printed R. and prices application. upon DAY & CO., llsta L. The Mutual LIFE INSURANCE 8 Nassau Street, NEW YORK. MEMBERS NEW YORK AND BOSTON Oo., CO., Benefit NEWARK. M. J. Frederick Frelinqhuysen, President: BANKERS, A.8BKT8 (Market Values) Jan. 1, 1901 .tS7.458,8S9 18 fclABILITIBS- 80.748,046 91 aUBPLUS 6,710,842 21 MUTUAL BENEFIT POLICIES STOCK EXCHANGES. CONTAIN STATE, MUNICIPAL, AND HIGU GRADE RAILROAD SECURITIES. Special and Peculiar Advantao^es Which are not combined In the POLICIES OF ANY OTHER COMPANY. CORPORATIOM BONDS 100-29 100*17 104-13 100-82 Illinois. 40 Water Street, BOSTON. MacDonald, McOoy 106"!-5 103-72 ' Proposals said to have been unsigned and therefore rejected. poration Bonds, conservatively issued, 60 State Street, BOSTON. $6,r80 Strert Bds. THE AMERICAN TRUST The AiviERicAN Mfg. Co. & SAVINGS BANK, MANILA SISAL AND JUTE Perry, Coffin AND * Chicago, T.W.STEPHENS & CO., Salle Street, Cbica^o. Blodget, Merritt & BANKERS. T. B. POTTER, Co., MUNICIPAL and nriMnc D^'^LIJi. 16 Congress Street, Boston. 36 MAHSAO HTRKET. MEW TURK. CORPORATION FULTON & CO., Municipal Bonds, 171 LA SALLE STREET, CHICAGO. ENGI[NEERS^ H. M. ByUesby 172 Washington Street, CIIICAOO, - MUNiriPAL AND PUBLIC FKAN( niSK CORPORATION KONDS lloiiulil iin<l Sniil. W. J. HAYES & SONS, IILEVKL.ANI). OHIO. & Co., INCOKPOKATlCn. ILL»^ - ENGINEERS. LIST ON APPLICATION. gTATE. CITY k RAILROAD B0N1) ^ R. ation, $241,900. BOND DEPARTMENT. CITY TAX EXEMPT BONDS. F. Wilmington, Yt.— Bond O^erinflf.— Proposals will be rep, M., November 16, bv I H, Goulding, Chairman Bond Committee, for the $20,0C0 i% coupon water-supply bonds mentioned in last week's Chronicle. DenominaDate, Deo. 1, 1904. Interest, January 1 and July tion, $500. 1, at the Wilmington Savings Bank, in New York exchange. Maturity, $1,000 yearly on ^January 1 from 1915 to 1934, inAssessed valuclusive. The village has no debt at present. ceived until 6 INVESTMENTS. INVESTMENTS. La Clerk. : | Y.— Bond O/erfngr.— Proposals will be m November 15, by the Board of Trus, I7X check on a State or national bank or trust company, for 5% of the amount of bid, required. Peter Paulding is" Village N. received until 8 p. tees, for 117,000 i% deficiency tax and assessment bonds and a |1,0G0 4% fire department bond. Denomination, |l,000. Maturity, Nov. 1, 1924. Certified Interest, semi-annual. MUKICIPAL 1733 liONTON, MASS. CONSTRUCT AND OPERATB RAILWAY LIGHT, POWER AND HYDRAULIC PLANTS. DESIGN, Examlnatlonfi and Reports. New York Life Buiidincr, CHICAUO, ILL. 1 : CHRONICLE. rilE 1734 ^tnst [Vol.. LX51X. (£>ompVinits. I^itianctal. 1904. llftO. The United States Life Insurance Co. THE CITY OF NE W YORK. IN OF MliW^^i>- NASSAU STREET 15 TKUSTEE8 C. 0. B. Alexander, Hubbard, Gage E. Tarbell, John F. T. F. Geo. H. Sqnlre, Bradlah Johnson, William Alexander, Alvln W. Krech, M. Hartley Dodge, H. M. Alexander, 8. M. Inman, Frederic R. Coadert, H. H. Porter Jr. W. H. Crocker, O. r. Adffms 2nd, John M. HaU, Edward M Houb^. W. FuUe, and Treas. 8eo. D. H. Moffat, Lawrence James Henry Smith, Vloe-Fresident. Ouyler, Lyraan Rhoades L. Gillespie, Jr., Aest. Secretary. Clarence H. Maokay, WlUlain H. Baldwin Jr., SU William O. Van Home, H. M. Walker, Chaunoey M. Depew, W. B. Ranklne, W. Alexander, Otto H. Kahn, L. L. Gillespie, Dryden, De Witt TRUHTEES Vice-President. Aest. Treaaorer. Munn, M.I),, President. Finance Committee: P. JAMES R. PLUM Leather CLARENCE H. KELSEY,Pr.Tlt.Gnar.(kTr.Oo. WILLIAM H. PORTER. Pre*. Chem. Nat. Bank V. P. Snyder, President. WUllam H. Molntyre, ;^ J. James H. Hyde, Fnok, T. H. ^4x s,\ Krech, H. C. Demlng, £. H. HaiTlman, H. ;- EQUITABLE BUILDING. W. Alvin Junes H. Hyde, John Active and Buooessfiil Agents who desire to make DIREfT with this wellestabllshtid and proKresslve Company, thereby •eonrlnK for themselves not only an immediate rettim for their work, but also an in creasing annual income commensurate with their nooess, are invited to communieate th E. 3d Vlce-I lesldent, at the Company's Office, 277 Brosul^fcy, New York City. CONTRACTS RICHARD w COCHRAN, Auets, over $8,750,000, Paid to FoUcyholderi in 1903, $1,060,956 70 TTHITING'S PAPERS. L. F. Loree. ot Individuals and Corporations. Interest on Dailv Bai&nces. Deposits Solicits SURPLUS. £9,000.000 CAPITAL, $3,000,000. ^twatLcial. For Bnslness Correapondence, the office: of letter written with your own hand, or by:the typewriter, are UNEQUALED. Their qnallty la asBiired and they have won highest honors at all the great World's Fairs. For high grade writing papers of all kinds, for bond papers, and for ledger papers, Insist on having them made by the Whether for ATLANTIC MUTUAL INSURANCE COMPANY. New York, January 20th, 1904. The Trustees, in Conformity with the Charter of the Company, submit the following statement of its affairs on thesisl of Decembtr, /(/jji Premiums on Marine Risks from let January, 1903, to 3l5t December, 1903.. Premiums on Policies not marked oflflst January, 1903 Total Marine J,174,147 73 800,368 56 Premiums Premiums marked $3,974,516 29 from ofi December, 1903 $3,250,-364 45 $336,185 20 111,923 77 $448,108 97 WHITING PAPER COMPANY, HOLY O HE. MASS. New York. ' Interest received during the year " " " lessTaxes Rent HLAIVD-BOOIi. Losses paid during the year which were estimated in 1902 andiuevlous years... $322,490 79 Losses occurred, estimated and paid In 1903 1,065,141 83 OF $1,387,632 62 Less Salvages Re-insnrances $146,587 55 64,028 75 ., Betums of Premiums and Expenses, $467,841 97 210,616 30 $1,177.016 32 Railroad Securities. (iBBued Semi- Annually by the Publishers JULY EDITION. . Cash in the hands of foreign countries Bill Receivable 1,107,221 88 . European Bankers to pay losses under policies payable In 182,001 68 ash in Bank 89,46172 Amount $12,025,021 81 interest on the outstanding certificates of oroflts will be paid to the holders aereof, or their legal ^<:^preseDtatlve8, on and after Tuesday ,'the second of February next. The outstandintr certificates of the issue of 1 898 will be redeemed and paid to the holders thereof, or tlielr lega. representatives, on and after Tuesday, the second of February next, from which dale all i uteres* thereon will cease. The certificates to be i)roduced at the time of payment, atid CHUceled. dividend of Forty per cent is declared on the net earned premiums of the Company for the year ending 3l8t December, 1903, tor which, upon application, certificates will be issuea on and after Tuesday, the thiid of May next. By order of the Board, S!x per cent A G. GU3TAV AMSINCK, FrtANCIS M BACkN. JOHN N. BKACIJ. WILI.IA.M U. BOUI.TON VEKMlN H. HKOWN, WALDItON BltOWN, .TOSKIMC 1H-HA)'.MAN, G'COKGK CLAUK, COiiNKLIUS KI.DKilT, P. ('.. EWAL ) FJ.KlTilANN, STANTON FLO YD- JONES, Secretary. TRUSTEES. IIERRKHT I.. P. MORTON. HKNRV I'ARISH. FREDEIUC A. I'ARSONf LEVI CIUGOS. OLKiMKiNT A. GHlbCoM, ANSON W. IIAKI), of the OOHMEBCLU. & FmAMCIAL CHROMICUC.) The Company has the following Assets, viz.: United States and State of New York .^took; Oity,Bankand other Securities $5,170,084 00 Special deposits in Banks and Trust Comiianies 1,612,252 53 Real Estate corner Wall and William Streets and Exchange Place... $3,789,000 Other Real Estate and Claims due the Company.. 75,000 3,864,000 00 Premium Notes and Chicao'O. Philadelphia. let January, 1903, to 3l8t IMciKlUS K. JKSIIP. UAbliAS B. PRATT, LKDVAUD. GEORGE W. gUlNTAIlI FRANCIS II. I^EGGKTT, A. A. HAVEN. niAKLKS I), LKVEKICH, JOHN L. RIKER, IjEANDER N. l.OVKLL, DOUGI-AS KOBlNSOrr. GKOHGK U. MACV. QUSTAV n. SCHWAB. CHAUhES H. MAUSnALL. WILLIAM C STUUQKS, W.U.U. MOORE, A. A. nxVK'S, President. F. A I'AHSONS, Yire-Fres'L l.KWIS CASS CORNKLIUS ELUERT, 2d Viee-Pre^t, THEO. p. JOHNSON, jd Tiee-Pveft. CONTENTS : Railroad Secnrltles.—Statement showing outstandtag Stocks and Bonds and also the Income for a series of years past, as well as the amount applicable to Interest charges, or Railroads whose securities are commonly sold in the markets of New York, Boston, Philadelphia and Baltimore. Hleltest and Lo^vemt Pricea— NEW YORK— Railroad and Miscellaneous Bonds and Stocks. Monthly for 1903 and to July 1, 1904. PHILADELPHIA — Railroad and Miscellaneous Bonds and Stocks. Monthly for year ending June 30, 1904 BOSTON— Railroad and Miscellaneous Bonds and Stocks. Monthly for year ending June 30, 1904. Vearly Range of PrlceB— Yearly Range of Active Stocks made In the years 1898, 1899, 1900. 1901, 1902, 1903, and to July 1, 1904. Dividends.—Dividends on Railroad Stocks sold at the Exchanges In New York, Boston, Philadelphia and Baltimore, paid during each of the years 1897 to 1903, Inclusive. Dividends on Leading Industrial Stocks during each of the years 1897 to 1903, Inclusive. INVESTMENT BONDS. SEND FOR LIST. OENISON, PRIOR & OO CLEVELAND. BOSTON. 4tlantle Mntnal Inaarano* Company Berl» Yvara Bonffht and 8old. of All fOHN M. GILLESPIE, Kooiii No. 518 Atlantic BDlIding, 49-51 Wall Street, NEW YOBS. TEUniSi $1 00 Price of Sln£;le Copied, To Subncrlbers ot tlie Chronicle, TA To Bankers and Brokers In quantities, with their •ards lettered in gilt on the cover, at special rates. WILLIAM B.DANA COMPANY Pine treet, coi . Pearl Street New York.