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.

.

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

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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
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80
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SI"*
100
Do pref
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3 Sep
6
250
6 Mar31
576 Amer Pnou Serv
3 4 Feb 4
54
7
Mar
50
24 14 24 >4
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2478
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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
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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
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1,675
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144
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5 4 Oct
65
54 Jan 23 7 4 Oct 12
8^4 Jan
East Boston Land
7
251
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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
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42=8 42'>4
42=8
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84
8414
Do pref
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138 188
173 173 J 'lie 2 190 Oct 12 164'4 .Vug 190 Feb
190
190 -Hergenthaler Lino. .100
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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
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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
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25 24 4 Oct 21 25 Augl2 28 J'ly 2934 Jan
Do pref
25
244
244
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Jan 10
134 Jan
4
2
400
44 Oct 14
5 Apr
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1044 106
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454Feb26
38
Oct
Oct
19
55
56
554
4
53
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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
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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
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100
92^6
Feb
Oct
1034
6
9
28
Oct
19
200
4
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184
100
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33 Jly 674Jan
12 40 4 Jan
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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
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81
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14
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'b\i
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7 4 Not 28
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94
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100
95
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87
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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

:

:

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:

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

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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.